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MAY 201 3
SURVEY OF CURRENT BUSINESS
BEA’s MONTHLY JOURNAL
In This Issue . . .
Preview o f the 201 3 Comprehensive NIPA Revision
Statistical Changes
NIPA Translation o f the Fiscal Year 2014 Federal Budget
Annual Industry Accounts, 2009-2012
BEA Briefing
A Progress Report on Modernizing the International
Accounts
s a iB E A
BUREAU OF ECONOMIC ANALYSIS
U.S. DEPARTMENT OF COMMERCE
ECONOMICS AN D STATISTICS AD M IN IS TR A TIO N
U.S. Department of Commerce
E conom ics and S tatistics A d m in istratio n
Mark Doms, Under Secretary fo r Economic Affairs
B ureau of E conom ic A nalysis
J. Steven Landefeld, Director
Brian C. Moyer, Deputy Director
Ana M. Aizcorbe, C hief Economist
Brian M. Callahan, C h ief Information Officer
Dennis J. Fixler, C hief Statistician
Kathleen James, C h ief Administrative Officer
Brent R. Moulton, Associate Director fo r National Economic Accounts
Carol E. Moylan, Associate Director for Industry Accounts
Joel D. Platt, Associate Director fo r Regional Economics
Sarahelen Thom pson, Associate Director fo r International Economics
B EA A d viso 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, academicians,
researchers, and experts in government and international affairs.
Ernst R. Berndt, Chair, Massachusetts Institute of Technology
Alan J. Auerbach, University of California, Berkeley
Barry R Bosworth, The Brookings Institution
Susan M. Collins, University of Michigan
Karen Dynan, The Brookings Institution
Jeffrey A. Frankel, Harvard University
Robert J. Gordon, Northwestern University
Maurine A. Haver, Haver Analytics, Inc.
Charles R. Hulten, University of Maryland
Dale W. Jorgenson, Harvard University
Ellen R. McGrattan, Federal Reserve Bank of Minneapolis
Therese J. McGuire, Northwestern University
William D. Nordhaus, Yale University
Joel L. Prakken, Chairman, Macroeconomic Advisers, LLC
Andrew D. Reamer, George Washington University
James Kim, Editor-in-Chief
M. Gretchen Gibson, Managing Editor
Kristina L. Maze, Production Manager
Wm. Ronnie Foster, Graphic Designer
Colby Johnson, Graphic Designer
Danielle M. Wittenberg, Editor
The S u r v e y o f C u r r e n t b u s in e s s (ISSN 0 0 3 9 - 6 2 2 2 ) is pub
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required by law of the Department.
SURVEY OF CURRENT BUSINESS
M ay 2013
1
Volum e 93 • N u m b er 5
G D P and the Econom y: A dvance Estim ates for th e First Q u arter of 2013
Real GDP rose 2.5 percent after rising 0 .4 percent in the fourth quarter o f 2 0 12. Inventory
investment and exports turned up, and consum er spending picked up.
6
P review of th e 2013 C o m p reh en sive R evision of th e N ational Inco m e and
Product A ccounts: Statistical C hanges
As p art o f the 14th comprehensive NIPA revision to be released in July, various statistical changes
will update the accounts to m ore accurately portray the evolving U.S. economy.
15
NIPA Translation of the Fiscal Year 2014 Federal B udget
BEA prepares federal governm ent estimates that are based on the proposed budget o f the U.S.
governm ent. This analysis is often used to gauge the effects o f the federal budget on U.S.
econom ic activity.
26
A nnual Industry A ccounts: A dvance S tatistics on G D P by Industry for 2012
The durable-goods m anufacturing, finance and insurance, and wholesale trade industries were
the largest contributors to econom ic growth in 2 0 12. Overall, 19 o f 22 industry groups
contributed to growth.
44
B EA Briefing
M o dern izing and E nhancing B E A ’s Intern atio nal E conom ic A ccoun ts
A Progress R ep ort and Plans for Im plem entation
An update on BEA’s efforts to m odernize these accounts to better align them with updated
international guidelines.
w w w .b ea.g o v
May 2013
D-1
B EA C urren t and H istorical Data
1/7
D ire cto r’s M essage
iv
Taking A cco u n t
B E A ’s W eb S ite and C on tacts (inside back cover)
S ch ed u le of U pcom ing B EA N ew s R eleases (back cover)
Looking A head
U.S. Travel and Tourism Satellite Accounts. Updated output, em ploym ent, and other
statistics for travel and tourism for 2 0 0 9 -2 0 1 2 .
Preview of the 2013 Comprehensive Revision of the Industry Accounts. Features the
integration o f the 2 0 0 7 benchm ark input-output accounts with the annual industry
accounts and the national incom e and product accounts.
iii
M ay 2 0 1 3
Director’s M essage_________________
— ............................................................................... ......................................
.............................................. ■■■■■■■»■■................................. ■■■.............................. ■■■
In this issue, we continue ou r series looking at the upcom ing
com prehensive revision o f the national incom e and produ ct ac
counts (NIPAs). This article previews the statistical changes: in
corporating the 2 0 0 7 benchm ark input-output accounts,
incorporating new source data for employers’ contributions to
state and local governm ent-sponsored defined contribution pen
sion plans, im proving the treatm ent o f capital gains and losses at
tributable to corp orate partners, and updating adjustm ents for
the underreporting and nonreporting o f incom e using newly
available source data.
Elsewhere, we present a translation o f the President’s budget
for fiscal year 2 0 1 4 into a fram ew ork consistent with the NIPAs.
This annual translation provides a tool to help gauge how p ro
posed federal spending m ight affect gross dom estic product
(G D P) and other measures.
A nother article takes a look at the advance statistics on GDP
by industry, which were released recently. These statistics provide
a first look at the distribution o f grow th in real GDP and infla
tion by industry in 20 1 2 .
W e’re also pleased to publish a BEA Briefing that previews
changes to be m ade as p art o f the June 2 0 1 3 annual revision o f
the international transactions accounts and the international in
vestm ent position accounts. It also outlines changes planned for
June 2 0 1 4 and describes longer term efforts to im plem ent m ore
com plex changes in definitions and m ethodologies.
In addition, the “GDP and the Econ om y” article takes a look
at the advance estimates o f the GDP accounts for the first quarter
o f 2013.
J. Steven Landefeld
D irector, Bureau o f E con om ic Analysis
iv
May 2013
T a k in g A c c o u n t...
Summary estimates of
2011 MNC activity released
Em ploym ent by U.S. m ultina
tional
com panies
(M N C s)
worldwide increased 1.5 percent
in 2011 to 34.5 million workers,
prim arily reflecting increases
abroad. In the United States,
em ploym ent by U.S. parent
com panies increased 0.1 per
cent to 22.9 million workers,
com pared with a 1.8 percent in
crease in total private-industry
em ploym ent in the United
States.
In April, as is custom ary, the
Bureau o f Econ om ic Analysis
(BEA ) released advance sum
m ary statistics on em ploym ent,
capital spending, and sales by
U.S. parent com panies, their for
eign affiliates, and U.S. affiliates
o f foreign M N Cs. Statistics
based on m ore com plete source
data, including cou ntry and in
dustry detail, will be released
later this year.
F or both U.S. M N Cs and U.S.
affiliates o f foreign M N Cs, em
ploym ent covers the total n u m
ber o f full-tim e and p art-tim e
employees at the end o f the fiscal
year. Sales are defined as gross
operating revenues— gross sales
minus returns, allowances, and
discounts. Capital expenditures
are defined as total expenditures
on property, plant, and equip
m ent.
The
statistics were
co n
structed from data collected in
two surveys: (1) a survey o f U.S.
M N Cs that covers the opera
tions o f both U.S. parent com p a
nies and their foreign affiliates
and (2) a survey o f the opera
tions o f U.S. affiliates o f foreign
M NCs.
Additional details for U.S.
M NCs:
• The total em ploym ent by U.S.
parents
accounted
for
roughly one-fifth o f total U.S.
em ploym ent in private indus
tries. Abroad, em ploym ent by
m ajority-ow ned foreign affil
iates o f U.S. M N Cs increased
4 .4 percent to 11.7 million
workers.
• The U.S. parent share o f
worldwide em ploym ent o f
U.S. M N Cs fell nearly 1 per
centage point in 2011 to 66
percent.
•W orldwide capital expendi
tures by U.S. M N Cs increased
16.7 percent in 2011 to $7 0 6
billion. Capital expenditures
in the United States by U.S.
parent com panies increased
17.1 percent to $ 5 1 4 billion.
Capital expenditures abroad
by m ajority-ow ned foreign
affiliates increased 15.4 p er
cent to $192 billion.
• The U.S. parent share o f
worldwide capital expendi
tures o f U.S. M N Cs in 2011
was 73 percent, little changed
from 2010.
• Sales by U.S. parent com p a
nies increased 9.4 percent in
2011 to $ 1 0 ,6 9 6 billion. Sales
by their m ajority-ow ned for
eign affiliates increased 15.8
percent to $5 ,9 8 5 billion.
Details regarding U.S. opera
tions o f foreign M NCs:
• Em ploym ent in the United
States by m ajority-ow ned
affiliates o f foreign M N Cs
rose 3.3 percent to 5.6 million
workers in 2 0 1 1 . U.S. affili
ates accounted for 5.0 percent
of
U.S.
private-industry
em ploym ent in 2 0 1 1 , about
0.1 percentage point higher
than in 2 0 10.
• Capital expenditures by U.S.
affiliates rose 12.3 percent in
2011 to $17 3 billion.
• Sales by U.S. affiliates rose
11.9 percent in 2011 to $3,491
billion.
For m ore inform ation, please
see the news release on the BEA
Web site at www.bea.gov/
new sreleases/international/m nc/
2 0 1 3 /m n c 2 0 11 .htm .
BEA offers new multimedia
tools for users
BEA has launched a new m ultimedia tool that provides an ar
ray o f videos and TV clips to
help users navigate the Bureau’s
vast interactive statistical d ata
base, learn how to use the eFile
system to subm it inform ation
for econ om ic surveys, learn
about the B E - 12 benchm ark
survey o f foreign direct invest
m ent in the United States, and
simply find inform ation relevant
to specific needs.
The m ultim edia content is
organized on the BEA Web site
as follows:
• TV shows featuring BEA data
• Help finding econ om ic data
• Using BEA’s interactive data
system
• Help with filing BEA surveys
To access the new tool, visit
w w w .bea.gov/video/index.htm .
May 2013
1
GDP and the Economy
A dvance Estim ates for the First Q uarter of 2013
R EAL GROSS dom estic product (GD P) increased
.2 .5 percent at an annual rate in the first quarter o f
2013, according to the advance estimates o f the national
incom e and product accounts (NIPAs) (chart 1 and ta
ble l ) . 1 In the fourth quarter o f 2012, real GDP in
creased 0.4 percent.
The acceleration in real GDP in the first quarter p ri
m arily reflected an upturn in private inventory invest
m ent, an acceleration in consum er spending, an upturn
in exports, and a smaller decrease in federal govern
m ent spending that were partly offset by an upturn in
im ports and a deceleration in nonresidential fixed in
vestm ent.2
• Prices o f goods and services purchased by U.S. resi
dents increased 1.1 percent in the first quarter after
increasing 1.6 percent in the fourth quarter. Energy
prices turned down, and food prices decelerated.
Excluding food and energy, gross dom estic purchases
prices increased 1.3 percent after increasing 1.2 per
cent (see page 3).
• Real disposable personal incom e (D PI) decreased 5.3
percent in the first quarter after increasing 6.2 percent
in the fourth quarter. C urrent-dollar DPI decreased
4.4 percent in the first quarter after increasing 7.9 per
cent in the fourth quarter. The sharp dow nturn in
DPI reflected a sharp dow nturn in personal incom e
that was partly offset by a deceleration in personal
current taxes (see page 4).
• The personal saving rate, personal saving as a percent
age o f current-dollar DPI, was 2.6 percent in the first
quarter; in the fourth quarter, the rate was 4.7 percent.
1. Real estimates are in chained (2005) dollars, and price indexes are
chain-type measures. Each GDP estimate for a quarter (advance, second,
and third) incorporates increasingly comprehensive and improved source
data; for more information, see “Revisions to GDP, GDI, and Their Major
Components” in the July 2011 S u rvey o f C u r r e n t Business. Quarterly esti
mates are expressed at seasonally adjusted annual rates, which assumes that
a rate of activity for a quarter is maintained for a year.
2. In this article, “consumer spending” refers to “personal consumption
expenditures,” “inventory investment” refers to “change in private invento
ries,” and “government spending” refers to “government consumption
expenditures and gross investment.”
Chart 1. GDP, Prices, Disposable Personal Income (DPI)
Real GDP: Percent change from the preceding quarter1
5
I
J ___ L
2009
J ___ I___ L
2012
J ___ I___ I___ I___ L
2010
2011
Consumer spending
Nonresidential fixed investment
■
iResidential fixed investment
inventory investment
Exports
Imports
Government spending
-
2
-
1
0
1
Percentage points at an annual rate
2
Prices: Percent change from the preceding quarter1
4
Prices of gross domestic purchases
2009
2010
2011
2012
2013
Real DPI: Percent change from the preceding quarter1
I
J ___ I___ I___ I___ I___ I___ I___ I___ L
2011
2009
2010
Teresita D urem des Teensma prepared this article.
2013
Contributions to the percent change in real GDP in 2013:1
1. Seasonally adjusted at annual rates
U.S. Bureau of Economic Analysis
2012
2013
G DP and the Econom y
2
M ay 2 0 1 3
Real G D P O verview
Consumer spending accelerated in the first quarter, re
flecting a pickup in spending for services that was
partly offset by a slowdown in spending for goods.
Table 1. Real Gross Domestic Product (GDP) and Components
[Seasonally adjusted at annual rates]
Share of
currentdollar
GDP
(percent)
Change from
preceding period
(percent)
2012
2013
I
Contribution to percent
change in real GDP
(percentage points)
2013
2012
II
III
IV
I
II
III
IV
I
1.3
3.1
0.4
2.5
1.3
3.1
0.4
2.5
3.2
1.06
1.12
1.28
2 .2 4 '
3.3 0.08
8.1 -0.02
1.0 0.10
3.1 0.99
0.85
0.66
0.19
0.26
1.02
1.00
0.02
0.27
0.78
0.62
0.16
1.46 -
0.85
0.17
1.56
Gross dom estic p ro d u c t1.....
Personal consum ption
expenditures..................................
100.0
71.0
1.5
1.6
1.8
Goods............................................
Durable goods..........................
Nondurable goods....................
Services.........................................
24.1
8.0
16.2
46.8
0.3
-0.2
0.6
2.1
3.6
8.9
1.2
0.6
4.3
13.6
0.1
0.6
Gross private dom estic
investm ent......................................
13.5
0.7
6.6
1.3
12.3
Fixed investment..........................
Nonresidential..........................
Structures..............................
Equipment and software
Residential................................
Change in private inventories.....
13.1
10.5
3.0
7.5
2.7
0.4
4.5
3.6
0.6
4.8
8.5
0.9
-1.8
0.0
-2.6
13.5
14.0
13.2
16.7
11.8
17.6
4.1
2.1
-0.3
3.0
12.6
Net exports of goods and
s e rv ic e s ..............................................
-3 .4
Exports...........................................
Goods.........................................
Services....................................
Imports...........................................
13.8
9.7
4.1
17.3
5.3
7.0
1.1
2.8
1.9
1.1
4.0
-0 .6
-2.8
-5.0
2.5
-4.2
2.9 0.72
3.5 0.67
1.5 0.05
5.4 -0.49
Goods.........................................
Services....................................
14.4
2.9
2.9
2.3
-1.2
2.6
-3.9
-5.6
5.2 -0.42 0.18
6.0 -0.07 -0.07
3.9
-7 .0
G overnm ent consum ption
expenditures and gross
investm ent......................................
Federal...........................................
National defense......................
Nondefense...............................
State and local..............................
18.9
7.4
4.8
2.6
11.6
2013
0.09
0.56 0.12 1.69 0.53
0.36 -0.19 1.28 0.22
0.02 0.00 0.46 -0.01
0.35 -0.19 0.82 0.23
0.19 0.31 0.41 0.31
-0.46 0.73 -1 .5 2 1.03
0.23
-0 .7
-0 .2
-0.2
-0.4
-1 .0
-4.1 -0 .1 4
9.5 -14.8 -8.4 -0.02
12.9 -22.1 -11.5 -0.01
3.0
1.7 -2 .0 -0.01
0.3 -1.5 -1.2 -0.12
0.38
0.33 -0 .5 0
0.27 -0.40 0.40 ^
0.11 -0.50 0.34
0.16 0.10 0.06
0.11 0.73 -0.90 ^
0.57 -0.73
0.17 -0.17
The slowdown in spending for goods reflected wide
spread slowdowns in the durable-goods categories, but
especially motor vehicles (new and used), that were
partly offset by a pickup in nondurable goods, primar
ily food and nonalcoholic beverages for off-premises
consumption, clothing and footwear, and fuel oil and
other fuels.
The pickup in spending for services reflected an up
turn in electricity and gas and a pickup in financial ser
vices and insurance that was partly offset by a
slowdown in food services and accommodations,
mainly in food services.
Private fixed investment slowed, reflecting a slowdown
in equipment and software, primarily information
processing equipment and software and transportation
equipment, and a downturn in structures, primarily
power and communication structures.
Inventory investment turned up, reflecting an upturn
in nonfarm inventory investment (mainly in manufac
turing and wholesale trade industries) and a pickup in
farm inventory investment that primarily reflected a
pickup in crop output in the first quarter.
0.75 -1.41 -0 .8 0
0.71 -1.23 -0.65 ^
0.64 -1.28 -0.60
0.08 0.04 -0.05
0.04 -0.18 -0.14
1. The estimates of GDP under the contribution columns are also percent changes.
Note. Percent changes are from NIPA table 1.1.1, contributions are from NIPA table 1.1.2, and shares are from
NIPA table 1.1.10.
Table 2. Real Gross Domestic Product (GDP) and Related Measures
Exports turned up; the upturn was more than ac
counted for by widespread upturns in goods exports.
Imports turned up, reflecting upturns in imports of
both goods and services.
Federal government spending decreased less than in
the fourth quarter; the smaller decrease was more than
accounted for by a smaller decrease in national defense
spending.
[Seasonally adjusted at annual rates]
Share of
currentdollar
GDP
(percent)
Change from
preceding period
(percent)
2012
2013
I
Gross dom estic p ro d u c t1.............
Final sales of domestic product
Change in private inventories
G oods............................................
Services.........................................
Structures......................................
Contribution to percent
change in real GDP
(percentage points)
2013
2012
2013
Real final sales of domestic product, real GDP less in
ventory investment, increased 1.5 percent in the first
quarter after increasing 1.9 percent.
II
III
IV
I
100.0
1.3
3.1
0.4
3.1
0.4
17
2.4
1.9
2.5
1.5
1.3
99.6
1.71
2.37
1.89
2.5
1.47
0.4
28.6
64.1
7.3
1.3
1.2
1.7
6.1
1.7
3.9
1.4
-1 .3
12.1
4.9
1.4
2.8
-0.46
0.38
0.76
0.12
0.73 -1.52
1.73 0.40
1.11 -0.84
0.27 0.82
1.03
1.40
0.90
0.20
Motor vehicle output accelerated, adding 0.24 per
centage point to the change in real GDP after adding
0.18 percentage point.
2.8
7.3
97.2
1.1
0.4 -19.9
-8.6
3.5
29.b
6.8
0.2
26.b
0.18 0.24
0.20 2.26
0.10 -0.01
Final sales of computers turned down, subtracting
0.01 percentage point from the change in real GDP af
ter adding 0.10 percentage point.
1.4
3.0
0.3
II
III
IV
I
Addenda:
Motor vehicle ou tp ut........................
GDP excluding motor vehicle output
Final sales of computers..................
GDP excluding final sales of
computers.....................................
99.6
9.1 0.20 -0.25
2.3 1.06 3.36
-1 .9 -0.10 0.11
2.5
1.35
2.99
0.28
2.51
1. The estimates under the contribution columns are also percent changes.
N o t e . For GDP and its components, percent changes are from NIPA table 1.2.1, contributions are from NIPA
table 1.2.2, and shares are calculated from NIPA table 1.2.5.
M ay 2 0 1 3
S urvey
of
C u r r e n t B u s in e s s
3
Prices
Table 3. Prices for Gross Domestic Purchases
[Percent change at annual rates; based on seasonally adjusted index numbers (2005=100)]
Contribution to percent
change in gross
domestic purchases prices
(percentage points)
Change from
preceding period
(percent)
2012
Gross dom estic purchases1 .....................
2013
II
III
IV
0.7
1.4
1.6
2012
2013
I
II
III
IV
I
1.1
0.7
1.4
1.6
1.1
0.9
0.47
1.09
1.09
0.62
Personal consum ption exp end itures..........
0.7
1.6
1.6
Goods.............................................................
Durable goods...........................................
Nondurable goods....................................
Services.........................................................
-1.8
-1.2
-2.2
2.0
1.9
-2.3
4.0
1.4
1.1
-2.0
2.6
1.9
Gross private dom estic investm en t............
1.3
0.6
1.5
1.5
0.17
Fixed investment...........................................
Nonresidential...........................................
Structures..............................................
Equipment and software......................
Residential.................................................
Change in private inventories......................
1.2
1.2
3.2
0.4
1.2
1.3
0.8
1.0
0.7
3.3
1.5
1.2
1.4
1.1
3.0
1.5
0.6
1.5
0.3
5.2
0.14 0.16
0.12 0.08
0.09 0.03
0.03 0.05
0.03 0.08
0.02 -0.08
0.19 0.19
0.12 0.06
0.04 0.04
0.08 0.02
0.07 0.13
0.01 -0.01
Governm ent consum ption expenditures
and gross inve s tm e n t..................................
0.6
1.4
1.6
1.7
0.11
0.26
0.30
0.31
Federal...........................................................
National defense.......................................
Nondefense...............................................
State and loca l..............................................
1.2
0.9
2.0
0.1
0.9
0.9
1.0
1.6
1.6
1.9
0.8
1.6
2.4
3.0
1.3
1.2
0.09
0.04
0.05
0.02
0.07
0.05
0.02
0.19
0.12
0.10
0.02
0.18
0.170.14
0.03
0.14
-0.6
10.3
1.2
1.8
9.9
1.2
1.6 0.03 -0.03
-4.4 -0.55 0.40
1.3 1.26 1.06
0.6
10.5
1.1
1.8
9.9
1.0
1.3
-3.8
1.2
2.7
0.0
-6 .5
1.0
1.5
5.3
1.2
1.5
1.1
-0.9 -0.43 0.44 0.25 -0.21
-1.1 -0.09 -0.18 -0.15 -0.08
-0.8 -0.34 0.62 0.40 -0.13
1.9 0.90 0.65 0.85 0.84
0.08
0.20
0.19
Prices paid by U.S. residents, as measured by the gross
domestic purchases price index, increased 1.1 percent
in the first quarter after increasing 1.6 percent. The
pay raise for military personnel added less than 0.1
percentage point to the first-quarter change in the
price index.
Consumer prices slowed, increasing 0.9 percent after
increasing 1.6 percent. The slowdown was more than
accounted for by a downturn in nondurable goods,
primarily gasoline and other motor fuel.
Prices paid for nonresidential fixed investment decel
erated, reflecting a deceleration in equipment and
software prices.
Prices paid for residential investment accelerated, in
creasing 5.2 percent after increasing 3.0 percent.
Prices paid by the federal government picked up, in
creasing 2.4 percent after increasing 1.6 percent. The
pickup was primarily in prices for national defense
consumption expenditures, specifically military com
pensation.
Addenda:
Gross domestic purchases;
Food...............................................................
0.7
Energy goods and services......................... -13.1
Excluding food and energy..........................
1.4
Personal consumption expenditures (PCE):
Food and beverages for off-premises
consumption..............................................
0.7
Energy goods and services......................... -13.6
Excluding food and energy..........................
1.7
Gross domestic product (GDP).......................
Exports...............................................................
Imports...............................................................
1.6
0.5
-3.9
0.09 0.08
0.39 -0.17
1.11 1.22
1. The estimates under the contribution columns are also percent changes.
N o t e . Most percent changes are from NIPA table 1.6.7; percent changes for PCE for food and energy goods
and services and for PCE excluding food and energy are from NIPA table 2.3.7. Contributions are from NIPA table
1.6.8. GDR export, and import prices are from NIPA tablel .1.7.
Prices paid by state and local governments increased
1.2 percent, after increasing 1.6 percent.
Consumer prices excluding food and energy, a mea
sure of the “core” rate of inflation, picked up, increas
ing 1.2 percent after increasing 1.0 percent.
The GDP price index increased 1.2 percent, 0.1 per
centage point more than the percent change in the
price index for gross domestic purchases, reflecting
differences between the movements in import prices
and in export prices. Export prices increased 1.5 per
cent, the same increase as in the fourth quarter. Im
port prices decelerated, increasing 1.1 percent after
increasing 5.3 percent.
Note on Prices
BEA’s gross domestic purchases price index is the most
comprehensive index of prices paid by U.S. residents for all
goods and services. It is derived from the prices of personal
consumption expenditures (PCE), private investment, and
government consumption expenditures and gross invest
ment.
BEA also produces price indexes for all the components
of GDP. The PCE price index is a measure of the total cost
of consumer goods and services, including durable goods,
nondurable goods, and services. PCE prices for food,
energy goods and services, and for all items except food and
energy are also estimated and reported.
Because prices for food and energy can be volatile, the
price measure that excludes food and energy is often used
as a measure of underlying, or “core,” inflation. The core
PCE price index includes purchased meals and beverages,
such as restaurant meals. (See the FAQ “What is the core
PCE price index?” on BEA’s Web site.)
BEA also prepares a supplemental PCE price index, the
“market-based” PCE price index, that is based on market
transactions for which there are corresponding price mea
sures. This index excludes many imputed expenditures,
such as financial services furnished without payment, that
are included in PCE and the PCE price index. BEA also pre
pares a market-based measure that excludes food and
energy.
GDP and the Econom y
4
M ay 2 0 1 3
Personal Incom e
Table 4. Personal Income and Its Disposition
[Billions of dollars; quarterly estimates are seasonally adjusted at annual rates]
Change from preceding period
Level
2012
2013
2012
IV
Personal in c o m e .
13,668.5 13.559.4
99.9
79.2
262.3
32.0
23.3
22.6
17.8
21.2
4.9
15.1
0.2
10.3
7.5
34.4
14.3
49.9
39.3
35.9
0.3
1.9
35.5
6.8
28.7
3.5
10.6
10.5
6.9
3.6
18.2
-18.0
-30.8
84.5
70.8
70.3
3.0
0.4
67.4
15.2
52.3
0.4
13.7
19.3
1.3
18.0
10.5
145.9
21.9
739.8 20.0
2.431.3 17.2
2.384.1 16.8
6.2
790.0
580.4
1.0
426.5 16.3
64.3 -10.4
2.7
78.5
0.9
444.5
12.9
22.8
22.3
5.7
9.3
10.3
-8.9
2.5
3.5
124.0
0.3
0.5
Compensation of employees, received............
Wage and salary disbursements...................
Private industries.........................................
Goods-producing industries...................
Manufacturing.....................................
Services-producing industries..............
Trade, transportation, and utilities....
Other services-producing industries.
Government..................................................
Supplements to wages and salaries............
Proprietors’ income with IVA and CCAdj..........
Farm..................................................................
Nonfarm ..............................................
Rental income of persons with C C A dj.
Personal income receipts on assets....
Personal interest income...................
8,662.1
6.959.3
5.755.6
1.165.1
746.6
4.590.5
1.120.4
3.470.2
1.203.7
1.702.8
1.224.7
60.7
1,164.0
481.5
1.858.7
997.2
8.734.2
7,013.5
5.806.9
1.181.4
756.3
4.625.5
1.135.6
3.489.9
1.206.6
1.720.7
1.258.1
72.3
1.185.8
499.5
1.733.3
993.5
Personal dividend income................................
Personal current transfer receipts.......................
Government social benefits to persons..........
Social security...............................................
Medicare.........................................................
Medicaid.........................................................
Unemployment insurance.............................
Veterans benefits...........................................
O ther...............................................................
Other current transfer receipts from business,
n e t...................................................................
Less: Contributions for government social
861.5
2.399.2
2.352.6
771.0
569.1
425.4
70.7
74.7
441.7
Less: Personal current taxes.........................
Equals: Disposable personal income (D P I).
Less: Personal outlays...................................
Equals: Personal saving................................
Personal saving as a percentage of DPI................
2013
IV
-
10.2
0.7
8.7
10.6
v e y .)
1.2
-4.2
0.7
4.3
957.6
1.097.1
1.8
4.3
8.9
1.510.8 1,538.0
12.157.7 12.021.4
11.591.7 11,708.0
566.0
313.3
14.4
85.4
57.4
28.0
11.3
67.9
88.6
- 20.6
34.3
228.0
97.0
130.9
4.7
The sharp downturn in personal dividend income fol
lowed a large increase that reflected the payment of ac
celerated and special dividends by many companies in
the fourth quarter. (See “The Effects of Special and Ac
celerated Dividends on the NIPAs” in the March S u r
10.8
5.9
2.9
47.2
0.5
The downturn in personal interest income primarily
reflected a downturn in the interest payments associ
ated with Treasury Inflation-Protected Securities.
11.2
46.6
0.6
2.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-0.3
0.0
Personal current taxes slowed, reflecting slowdowns in
federal government taxes and in state and local gov
ernment income taxes.
105.6 -132.6
0.0
2.3
0.0
The acceleration in government social benefits to per
sons primarily reflected pickups in social security and
in Medicare payments. The pickup in social security
payments reflected a January cost-of-living adjustment
of 1.7 percent for beneficiaries.
The acceleration in contributions for government so
cial insurance primarily reflected the effect of the expi
ration of the “payroll tax holiday,” which increased the
social security contribution rate for employees and
self-employed workers by 2.0 percentage points.
Addenda: The effects of special factors on
changes in disposable personal incom e
In government wages and salaries:
Federal military pay raise.....................................
In supplements to wages and salaries:
FICA increase in maximum taxable w ages........
State unemployment insurance changes in tax
rates and taxable wage b a se ..........................
Federal Unemployment Tax Act credit reduction
In personal dividend income:
Accelerated dividends...........................................
In government social benefits to persons:
Cost-of-living adjustments (COLAs)1.................
Automatic Earnings Reappraisal O peration.....
Refundable tax credits..........................................
In employee contributions for government social
insurance:
FICA and SECA increase in maximum taxable
wages..................................................................
SMI premium increase..........................................
Additional hospital insurance ta x ........................
Expiration of the “payroll tax holiday” ..................
In personal current taxes:
Refunds, settlements, and back taxes...............
Personal income, which is measured in current dol
lars, turned down in the first quarter, decreasing
$109.1 billion after increasing $262.3 billion. The
downturn primarily reflected a sharp downturn in
personal dividend income, a sharp acceleration in
contributions for government social insurance (a sub
traction in the calculation of personal income), and a
downturn in personal interest income that were partly
offset by a pickup in government social benefits to
persons.
Personal saving— disposable personal income less per
sonal outlays— decreased $252.7 billion after increas
ing $130.9 billion.
15.2
-2 .3
2.0
2.1
4.0
6.7
114.1
Chart 2. Personal Saving Rate
-3 .4
Seasonally adjusted annual rates
Percent
1. Includes COLAs for social security, veterans benefits, railroad retirement, and supplemental security income.
In the first quarter, the social security COLA boosted benefits $13.2 billion.
Note. Dollar levels are from NIPA tables 2.1 and 2.2B.
CCAdj Capital consumption adjustment
IVA Inventory valuation adjustment
FICA Federal Insurance Contributions Act
SECA Self-Employed Contributions Act
2009
2010
U.S. Bureau of Economic Analysis
2011
2012
2013
M ay 2 0 1 3
S u rvey
of
C
urren t
B
5
u s in e s s
S ource Data for the A dvance Estim ates
Table 5. Source Data and Key Assumptions for the Advance Estimates of GDP for the First Quarter of 2013
[Billions of dollars, seasonally adjusted at annual rates]
2012
Oct. Nov. Dec. Jan.
2013
Feb. March1
Private fixed investment:
Nonresidentialstructures:
Valueofnewnonresidentialconstructionputinplace..........................
Residentialstructures:
Valueofnewresidentialconstructionputinplace:
Singlefamily.........................................................
M
ultifamily...........................................................
Change in private inventories:
Changeininventoriesfornondurablemanufacturing............................
Changeininventoriesformerchantwholesaleandretailindustriesotherthanmotor
vehiclesandequipment.................................................
Net exports:2
Exportsofgoods:
U.S.exportsofgoods, international-transactions-accountsbasis.................
Excludinggold.......................................................
Importsofgoods:
U.S. importsofgoods, international-transactions-accountsbasis.................
Excludinggold.......................................................
Netexportsofgoods.....................................................
Excludinggold........................................................
State and local government structures:
Valueofnewconstructionputinplace........................................
1. Assumption.
2. Nonmonetary gold is included in balance-of-payments exports and imports, but it is
302.1 318.6 327.5 308.3 309.6 309.0
141.5
23.9
-16.7
52.2
144.5 146.3 151.6 158.1 162.4
24.4 26.0 27.6 27.0 27.7
-8.8 5.1 31.1 -5.0 6.2
40.3 30.8 116.2 2.6 19.9
1,531.3 1,553.0 1,593.8 1,570.2 1,586.2 1,582.9
1,504.0 1,519.1 1,544.8 1,529.8 1,542.5 1,544.2
2,239.6 2,338.9 2,266.7 2,310.6 2,308.9 2,298.2
2,221.6 2,316.0 2,247.9 2,290.2 2,294.9 2,279.3
-708.3 -785.9 -672.9 -740.4 -722.7 -715.3
-717.6 -796.9 -703.1 -760.4 -752.4 -735.1
248.3 249.7 244.2 245.3 248.1 246.7
not used directly in estimating exports and imports in the national income and product
accounts.
Source Data and Key Assum ptions for the Advance Estim ates of GDP
The advance estimates of many components of GDP are
based on 3 months of source data, but the estimates of
some components are based on only 2 months of data. For
the following items, the number of months for which data
are available is shown in parentheses.
Personal consumption expenditures: sales of retail stores
(3), unit auto and truck sales (3), consumers’ shares of auto
and truck sales (2), motor vehicle fuels data (3), and elec
tricity and gas usage and unit-value data (3);
Nonresidential fixed investment: unit auto and truck sales
(3), construction spending (value put in place) (2), manu
facturers’ shipments of machinery and equipment (3), and
exports and imports of machinery and equipment (2);
Residential fixed investment: construction spending (value
put in place) (2), single-family housing starts (3), sales of
new homes (3), and sales of existing houses (3);
Change in private inventories: trade and nondurablegoods manufacturing inventories (2), durable-goods man
ufacturing inventories (3), and unit auto and truck invento
ries (3);
Net exports of goods and services: exports and imports of
goods and services (2);
Government consumption expenditures and gross invest
ment: federal government outlays (3), state and local gov
ernment construction spending (value put in place) (2),
and state and local government employment (3);
Compensation: employment, average hourly earnings, and
average weekly hours (3); and
Prices: consumer price indexes (3), producer price indexes
(3), and values and quantities of petroleum imports (2).
Key assumptions
When source data were unavailable, BEA made various
assumptions for March, including the following (table 5):
• A decrease in nonresidential structures,
• An increase in residential structures,
• An increase in nondurable-goods manufacturing invento
ries,
• An increase in nonmotor vehicle merchant wholesale and
retail inventories,
• An increase in exports of goods excluding gold,
• A decrease in imports of goods excluding gold, and
• A decrease in state and local government structures.
A more comprehensive list is available on BEA’s Web site.
6
May 2013
Preview of the 2013 Comprehensive Revision of
the National Income and Product Accounts
Statistical Changes
By Nicole M. Mayerhauser and Sarah J. Pack
I N JULY 2 013, the Bureau o f E conom ic Analysis
(BEA) will release the results o f the 14th com prehen
sive, or benchm ark, revision o f the national incom e
and produ ct accounts (NIPAs). The last such revision
was released in July 2009.
This article, which describes statistical changes, is
the third in a series o f S u r v e y o f C u r r e n t B u s in e s s arti
cles about the comprehensive revision. An article in
the February 2013 issue o f the S u r v e y described new
m ethods for m easuring implicitly priced services p ro
duced by com m ercial banks.1 An article in the M arch
2013 issue o f the S u r v e y covered changes in definitions
and in the presentation o f data, including a change in
the reference year to 20 0 9 for the chain-type quantity
and price indexes and for the chained-dollar estimates;
currently, the reference year is 2 0 0 5 .2 Following the re
lease of the com prehensive revision results in July, an
article in the September 201 3 S u r v e y will describe the
revised NIPA estimates and present and discuss the ef
fects o f the changes in definitions and statistical
changes.
Statistical changes are changes in estim ation p roce
dures that are generally m ade to incorporate new data
from sources or m ethodologies that address data gaps
and other shortcom ings. M ajor statistical changes in
this com prehensive revision include the following:
• Incorporating the 200 7 benchm ark input-output
(I-O ) accounts, which provide the m ost thorough
and detailed inform ation on the structure o f the
U.S. econom y. These accounts are used to bench
m ark m ost expenditure com ponents o f gross
dom estic produ ct (G D P) as well as som e o f the
incom e com ponents.
1. Kyle K. Hood, “Measuring the Services of Commercial Banks in the
National Income and Product Accounts: Changes in Concepts and Methods
in the 2013 Comprehensive Revision,” Survey o f C urrent Business 93 (Feb
ruary 2013): 8 -1 9 .
2. “Preview of the 2013 Comprehensive Revision of the National Income
and Product Accounts: Changes in Definitions and Presentations,”
93 (March 2013): 1 3 -39.
Survey
• Im proving estimates o f em ployers’ contributions to
state and local governm ent-sponsored defined co n
tribution pension plans by incorporating new
source data.
• Im proving the estimates o f proprietors’ incom e by
m ore accurately accounting for the capital gains and
losses attributable to corp orate partners.
• Im proving estimates o f proprietors’ incom e by
updating adjustm ents for the underreporting and
n onreporting o f incom e using updated data from
the Internal Revenue Service (IRS).
The rem ainder o f this article describes the newly
available and revised source data and the m ajor m eth
odological changes that will be incorporated in this
comprehensive revision.
N ew ly A vailable and R evised S ou rce D ata
W ith the upcom ing comprehensive revision, estimates
for all years, 1 9 2 9 -2 0 1 2 , are open for revision in order
to incorporate changes in definitions and classifica
tions as well as statistical changes. Source data that
have becom e available since the 2 0 0 9 comprehensive
revision and that were not fully incorporated as part o f
the 2 0 1 0 , 2 0 1 1 , or 2 0 1 2 annual NIPA revisions are re
ferred to as “regular benchm ark source data.” These
data are usually available w ith a long lag, but they gen
erally go back no further than 10 years, which is typi
cal, for example, o f the data from the decennial and
quinquennial censuses.
This com prehensive revision will also include the
data that are regularly incorporated in annual NIPA re
visions and cover 2 0 1 0 -2 0 1 2 ; these source data are re
ferred to as “regular source data for 2 0 1 0 -2 0 1 2 .” An
example is the 2011 Statistics o f Incom e (SO I) data for
business tax returns from the IRS.
Regular benchmark source data
The revised NIPA estimates will incorporate the fol
lowing regular benchm ark source data: data from
May 2013
S urvey
of
C u r r e n t B u s in e s s
BEA’s 2 0 0 7 benchm ark 1 - 0 accounts; selected data
from the m ost recent quinquennial econom ic cen
suses; housing data from the 201 0 decennial Census o f
Population and Housing; and annual source data that
were n ot available in tim e for incorporation during
previous annual NIPA revisions.
The 2007 benchmark 1 -0 accounts. The bench
m ark 1 - 0 accounts are the m ost im p ortan t data source
for comprehensive revisions o f the NIPAs. They are
used as benchm arks because they are based on detailed
industry and com m odity data collected by the Census
Bureau in the quinquennial econom ic censuses and
because they are prepared within an internally consis
tent fram ew ork that tracks the flows o f inputs and o u t
puts in the economy.
These accounts are used to establish the level o f
GDP for the benchm ark year; they also provide essen
tial inform ation for estimating GDP in periods follow
ing the benchm ark year.3 For NIPA benchm ark year
estimates, the 1 - 0 accounts provide inform ation on
the p ortion o f gross output that is consum ed as final
uses, o r final dem and.4 As a result, the estim ate o f GDP
avoids double-counting (of, for example, the sem icon
ductors that are used to produce com puters or the
flour that is used to produce bread).
The 2 0 0 7 1 - 0 accounts provide the benchm ark for
the estimates o f personal consum ption expenditures
(PC E ) and private fixed investment as well as several
com ponents o f incom e. They also provide the co m
m odity weights for the estimates o f change in private
inventories and for the product detail o f state and local
governm ent consum ption expenditures and gross in
vestment.
The incorporation o f the 20 0 7 benchm ark 1 - 0 ac
counts will result in revisions to NIPA estimates o f se
lected com ponents for 2003 forw ard.5 This year’s
comprehensive revision o f the NIPAs will be released
in advance o f BEA’s benchm ark 1 - 0 accounts, which
are scheduled to be released in D ecem ber 2 0 1 3 . In the
past, the benchm ark 1 - 0 accounts were released before
the comprehensive NIPA revisions. The published 1 - 0
estimates were used to benchm ark the level o f GDP
3. Benchmark years occur at 5-year intervals and end in a 2 and a 7, corre
sponding to quinquennial census years; benchmark estimates are prepared
using data from these censuses.
4. Gross output is a measure of what is produced in the domestic econ
omy. It reflects the value of intermediate inputs (energy, materials, and pur
chased services) and the value added created by an industry’s labor and
capital. Gross output includes both the value of what is produced and then
used by others in their production processes as well as the value of what is
produced and sold to final users. Gross output for the economy reflects
double-counting and is therefore much higher than GDP.
5. The estimates from the 2002 benchmark 1-0 accounts were incorpo
rated as part of the 2009 comprehensive revision of the NIPAs.
7
and related com ponents in the NIPAs. However, the
comprehensive NIPA revisions introduced changes in
definitions and m ethodologies that had n ot been in
corporated in the published 1 - 0 estimates, so the tim
ing o f this process resulted in inconsistencies between
the benchm ark 1 - 0 accounts and the NIPAs.
This new release schedule will im prove the integra
tion o f the NIPAs and the benchm ark 1 - 0 accounts as
well as the annual industry accounts.6 Specifically, the
benchm ark 1 - 0 accounts will include the changes in
definitions and classifications, such as the capitaliza
tion o f business and governm ent research and devel
opm ent, that will be included in the revised NIPA
estim ates.7 W ith the release o f the benchm ark 1 - 0 and
annual industry accounts in D ecem ber 2 0 1 3 , users will
have access to the three accounts and will be able to
easily m ove from one set o f accounts to another to a c
cess various levels o f inform ation. For exam ple, a user
interested in a particular com ponent o f consum er
spending in the NIPAs will be able to access m ore de
tailed and consistent inform ation on that com ponent
in the benchm ark 1 - 0 accounts.
Other regular benchmark source data. This co m
prehensive revision will incorporate data from the
2 0 0 7 E con om ic Census, including data for the follow
ing categories: inventories; the receipts and expenses o f
business establishments and o f governm ents; sales by
detailed com m od ity and product line; final industry
and product shipments; and trade m argins from both
the 2 0 0 7 E con om ic Census and from the 2 0 0 7 annual
surveys o f m erchant wholesale and retail trade. In ad
dition, revised m onthly and annual Census Bureau in
dustry data on m anufacturing, wholesale trade, and
retail trade will affect estimates o f P C E for goods and
food services, o f private fixed investment in equip
m ent, and o f the change in private inventories for 2003
forward. The 2 0 1 0 decennial Census o f Population and
Housing will be used for estimates o f PC E housing ser
vices and for rental incom e o f persons.
Annual series that were n ot available in tim e for the
2 0 1 0 -2 0 1 2 annual NIPA revisions will also be in corp o
rated. NIPA estimates that are based on BEA’s interna
tional transactions accounts (ITAs)— prim arily net
exports o f goods and services and rest-of-the-w orld in
com e receipts and paym ents— will be revised to reflect
im provem ents to the ITAs that have been introduced
since the 2 0 0 9 comprehensive NIPA revision and that
affected years outside the periods open for revision
6. Brian C. Moyer, “BEA Briefing: Future Directions for the Industry
Accounts,” Survey 89 (March 2009): 29-32.
7. For more details, see “Changes in Definitions and Presentations,”
13-39.
8
Preview of the 2013 C om prehensive Revision of the NIPAs
during the subsequent annual NIPA revisions.8 In ad
dition, revised Census Bureau governm ent finances
data on the expenditures and receipts o f state and local
governm ents for fiscal years 2 0 0 6 -2 0 0 9 will be incor
porated.
Regular source data for 2010-2012
The revised estimates for 2 0 1 0 -2 0 1 2 will also reflect
the incorporation o f newly available and revised
source data that becam e available after the last annual
NIPA revision in July 2012. These data include the fol
lowing Census Bureau annual surveys: o f state and lo
cal governm ents finances for fiscal year 201 0 (revised)
and fiscal year 2011 (prelim inary), o f m anufacturers
for 20 1 0 (revised) and 2011 (prelim inary), o f m er
chant wholesale trade and retail trade for 2 0 1 0 (re
vised) and 2011 (prelim inary), o f services and o f the
value o f con struction put-in-place for 201 0 and 2011
(revised) and 2012 (prelim inary). The data also in
clude the following: Office o f M anagem ent and Bud
get’s federal governm ent budget data for fiscal years
2012 and 2013 (revised), BEA’s ITAs for 2 0 1 0 -2 0 1 2
(revised), Bureau o f Labor Statistics (BLS) Q uarterly
Census o f Em ploym ent and Wages for 2 0 1 0 -2 0 1 2 (re
vised), IRS tabulations o f corporate tax returns for
20 1 0 (revised) and 2011 (prelim inary) and o f sole p ro
prietorship and partnership tax returns for 2 0 1 1 , and
U.S. D epartm ent o f Agriculture farm statistics for
2 0 1 0 -2 0 1 2 (revised ).9
C h an g es in M ethod ology
This section describes the new and improved m eth od
ologies that will be introduced in this comprehensive
revision.10 The discussion includes changes to produ ctside and incom e-side com ponents and extensions of
several m ethodologies that were incorporated in the
2 0 1 0 -2 0 1 2 annual NIPA revisions (table 1).
Product-side changes
Measures of implicit services of commercial banks.
Banks are com pensated for some o f the services that
8. The annual revisions of the ITAs are released each June; see Jeffrey R.
Bogen and Jessica M. Hanson. “Annual Revision of the U.S. International
Transactions Accounts” S u rv ey 92 (July 2012): 35-46 for a discussion of the
most recent update.
9. The 2013 annual ITA revision will be released in June 2013 and may
include revisions for years before 2010. This year’s comprehensive NIPA
revision will incorporate currently published ITA data through 2009.
Because of production constraints, the NIPAs will only incorporate esti
mates from the 2013 annual ITA revision for 2010-2012. For periods before
2010, differences between the ITAs and the NIPAs will be shown in the “sta
tistical differences” lines of the NIPA table 4.3B.
10. These changes update the methodologies that are described in
“Updated Summary NIPA Methodologies” Survey 92 (November 2012):
8-26 and in the NIPA Handbook of Concepts and Methods at www.bea.gov.
May 2013
they provide to their custom ers with a portion o f the
interest that they charge on loans or by a reduction in
the interest they pay on deposits rather than by charg
ing explicit fees. BEA refers to these services as “finan
cial services furnished w ithout paym ent” or as
“implicitly priced services.” Beginning with 1985, BEA
will im prove the m ethods for com puting implicitly
priced services provided by com m ercial banks to es
tablish a m ore realistic picture o f bank output, p articu
larly in light o f the recent financial crisis. Three m ajor
changes in the m ethods for com puting these implicit
services will be introduced: (1) the boundaries o f assets
and liabilities included in the im plicit services calcula
tions will be modified; (2 ) a new treatm ent o f losses
from borrow er defaults will be introduced; and (3) the
com putation o f the reference rate will be refined to
avoid unnecessary volatility in the m easures o f implicit
services consum ed by borrow ers and depositors.11
The first o f these changes reflects the recom m en d a
tions o f the 2008 System o f National Accounts (SNA
2 0 0 8 ).12 Based on these guidelines, the NIPAs will n ar
row the scope o f assets and liabilities for which flows of
implicit services are im puted to include only those as
sets and liabilities involving direct custom er contact.
Im plicit services will be calculated using loans, depos
its, and securities repurchase agreem ents; com m ercial
banks’ trading assets and liabilities will also be in
cluded because it is believed that in m any cases, these
are associated with direct custom er contact. Securities
and bank borrow ings that do n ot involve custom er
con tact will be excluded. O n average, this change will
have a m in or im pact on the level o f bank output, be
cause the interest rates on the excluded balance sheet
items tend to be close to the reference rate.
The new treatm ent o f losses due to borrow er de
faults addresses a conceptual concern relating to the
interest charged to cover defaults, which is n ot a charge
for services. A p ortion o f the interest that banks charge
on loans is used to cover losses o f principal due to b o r
rower defaults and is therefore not available to cover
production costs. As a result, that p ortion should not
be included in the calculation o f output. Accordingly,
the revised NIPA procedure for valuing im plicit ser
vices provided to borrow ers will subtract a measure o f
expected credit losses due to borrow er defaults from
the actual interest banks earn on loans.
11. For a detailed description of the methodological changes for bank
output, see Hood, “Measuring the Services of Commercial Banks.”
12. The SNA provides widely followed international guidelines for
national accounts on measuring implicitly priced services of financial inter
mediaries, including banks, and terms these services “financial intermedia
tion services indirectly measured,” or FISIM (SNA 2008, paragraph 6.163,
115).
May 2013
S urvey
of
9
C u r r e n t B u s in e s s
The improved calculation o f the reference rate, the
third change, will reduce spurious fluctuations in the
relative levels o f borrow er and depositor services that
are caused by differences between the tim ing and the
m atu rity o f banks’ loans and deposits and the assets
used to com pute the reference rate. S h ort-ru n shifts in
borrow er and depositor services due to swings in loan
or deposit rates relative to the reference rate, such as
those occurring at turning points in the interest-rate
environm ent, m ay n ot be meaningful measures o f a c
tual price changes, because m aturities o f the loans and
deposits m ay lock consum ers into these instrum ents
Table 1. Major Methodological Changes
Changes
Components affected
Initial
yearof
change
Product side
Improve estimates of implicit services of commercial banks
1985
Personal consumption expenditures, exports, and
federal and state and local government consump
tion expenditures for services
Improve estimates of employers’ contributions to state and
State and local government consumption expendi
local government-sponsored defined contribution pension
tures
plans
Improve classifications of wind and solar power structures
1966
Private fixed investment for nonresidential structures 1993
Seasonally adjust estimates of petroleum and natural gas struc Private fixed investment for nonresidential structures 2003
tures
Improve measures of wages paid by Indian tribal governments State and local government consumption expendi
tures
1990
Income side
Improve estimates of implicit services of commercial banks
Net interest paid by business, personal interest pay 1985
ments, personal interest income, federal and state
and local government interest payments and re
ceipts, and interest received and paid by the rest of
the world
Improve estimates of employers’ contributions to state and
Compensation of state and local government
local government-sponsored defined contribution pension
employees
plans
1966
Improve methodology for estimating the corporate partners’
adjustment made to nonfarm proprietors’ income
Nonfarm proprietors’ income
1993
Update measures of misreporting
Wages and salaries and nonfarm proprietors’ income 2002
Improve methodology for distributing the income of regulated Corporate profits, net interest paid by business, net 1992
investment companies by type
dividends paid by business, personal dividend in
come, and personal interest income
Improve measures of wages paid by Indian tribal governments Compensation of state and local government em
ployees
1990
Incorporate new data on supplemental unemployment
insurance
Compensation of employees
1996
Expand coverage of federal government rents and royalties
Federal government miscellaneous receipts and in
terest and miscellaneous payments
1947
Reclassify interest paid to the rest of the world by government- Federal interest paid and net interest paid by business 1970
sponsored enterprises
Changes from previous annual revisions carried back
Improve estimates of mortgage interest paid
Rental income of persons and net interest paid by
business
1993
Improve estimates of medical and hospitalization insurance
and income loss insurance
Personal consumption expenditures
1992
Improve deflation of fixed investment for new light trucks
Personal consumption expenditures
1987
10
Preview of the 2013 Com prehensive Revision of the NIPAs
for m any quarters. The NIPAs will stabilize this spuri
ous volatility by reducing the variation in the split be
tween borrow er and depositor services. The revised
reference rate will yield a similar average level o f b or
rower and depositor services, com pared with the one
used previously, but it will better m atch fluctuations in
the rates that banks pay on liabilities and earn on as
sets. Based on this new reference rate, user costs and
output will be com puted in the usual way.
State and local government-sponsored defined
contribution pension plans. For m any years, state and
local governm ents have offered defined contribution
pension plans to their employees, either in place o f de
fined benefit plans or as part o f hybrid plans.13 C ur
rently, the NIPA m easure o f state and local governm ent
com pensation only accounts for TIA A /C R EF plans,
which have long been available to teachers.
Beginning with 1996, com pensation shares are
available from the BLS Em ployer Costs for Employee
C om pensation (EC E C ) survey. Using these data, state
and local com pensation will now include con trib u
tions to TIA A /C R EF and to other defined contribution
plans. F or 1996 forward, the estimates o f state and lo
cal em ployer contributions will be derived using the
E C EC share o f employer contributions to defined co n
tribution plans and the EC EC share o f wages relative to
total com pensation and NIPA wages. The estimate of
other defined contributions will be m easured as the
difference between the derived m easure o f employer
contributions to defined contribution plans and the
existing estim ate o f employer contributions for TIAA/
CREF. For 1 9 6 6 -1 9 9 6 , BEA will estimate con trib u
tions for other defined contribution plans using a de
clining ratio relative to TIA A /C R EF contributions; for
1 9 5 9 -1 9 6 6 , all contributions are assumed to be to
TIAA/CREF.
Because BEA prepares its estimates o f state and local
governm ent purchases o f interm ediate goods and ser
vices residually by subtracting items that are n ot in
cluded in interm ediate goods and services from
current operating expenditures o f state and local gov
ernm ents, which are based on Census Bureau data, the
contributions to defined contribution plans other than
TIA A /C R EF are currently included in the NIPA esti
m ates o f interm ediate goods and services. This m eth
odological change will reallocate these contributions to
com pensation from interm ediate goods and services,
resulting in no effect on overall governm ent consum p-
May 2013
tion expenditures or cu rrent-d ollar GDP. Total co m
pensation and gross dom estic incom e will increase as a
result o f the reallocation.
Classification of wind and solar power structures
in private fixed investment. Beginning with 1993, in
vestm ent in wind and solar power structures will be re
classified from “oth er” power structures to electric
structures. Currently, wind and solar power structures
are estimated residually by subtracting electric, gas,
and oil power structures from total power structures,
which are provided by the Census Bureau’s Value o f
C onstruction Put in Place survey. In 1999, the Census
Bureau reclassified con stru ction spending on wind and
solar power structures from the “other power co n
struction” category to the “electric power co n stru c
tion” category. BEA will also directly measure
investment in wind and solar power structures using
the Census Bureau construction spending data avail
able for these types o f structures rather than as a resid
ual.
Seasonal adjustment of petroleum and natural gas
structures. Q uarterly estimates o f real private fixed in
vestm ent in petroleum and natural gas structures are
based on a com posite index o f data on footage drilled
and on m onthly oil and natural gas rotary rig counts
from a trade source. This index is currently n ot season
ally adjusted, but an exam ination o f the data revealed
strong seasonality. As a result, BEA will seasonally ad
just the data. The seasonal adjustm ent will result in re
visions to the quarterly estimates o f private investm ent
in petroleum and natural gas structures beginning
with the first quarter o f 2003.
Income-side changes
Adjustment to nonfarm proprietor’s income for cor
porate partners. The incom e attributable to corporate
partners is included in the SO I tax-based source data
on incom e o f both corporations and partnerships.14 To
prevent double-counting, BEA removes corporate
partner incom e from the NIPA m easure o f partnership
incom e that is included in nonfarm proprietors’ in
com e. The adjustm ent is included in line 3 o f “Table
7.14. Relation o f N onfarm Proprietors’ Incom e in the
National Incom e and Product A ccounts to C orre
sponding M easures as Published by the Internal Reve
nue Service.” However, the tax-based partnership
incom e attributable to corporate partners includes
capital gains and losses. In order to be consistent with
other NIPA incom e m easures, the capital gains and
13. As part of the 2013 comprehensive revision of the NIPAs, BEA will
also improve the transactions of defined benefit pension plans by moving
to an accrual-based accounting approach and by recognizing the imputed
14. This issue is discussed by Dylan Rassier, “The Role of Corporate Prof
its and Income in the Statistical Discrepancy,” Su rvey 92 (February 2012):
costs related to unfunded liabilities. See “Changes in Definitions and Pre
8- 2 2 .
sentations,” 21-25.
May 2013
S urvey
of
C u r r e n t B u s in e s s
losses m ust be removed from the corporate share of
tax-based partnership incom e. Unfortunately, the SO I
tabulations used by BEA do not provide inform ation
to directly measure the am ou nt o f corporate partners’
capital gains and losses included in the partnership in
co m e.15 BEA currently assumes that approxim ately 90
percent o f all capital gains and losses earned by p art
nerships with at least one corporate partner is attribut
able to the corporate partners. This estimated value,
along with estimates o f other nonoperating incom e
such as portfolio interest, is then subtracted from the
SO I data on total corporate partners’ incom e to derive
an estimate o f the corporate share o f tax-based p art
nership incom e excluding capital gains and losses.
BEA conducted research using IRS 1065 K - l forms
that provide inform ation on incom e by type and by
type o f partner within a partnership. The data from
this sample suggests that the share o f capital gains in
com e and losses earned by partnerships with at least
one corporate partner is closer to 50 percent than to
the 90 percent currently assumed. As a result, BEA will
revise up its estimate o f the incom e attributable to co r
porate partners that it removes from the SO I data on
total partnership operating incom e. This will have the
effect o f revising down the estimate o f nonfarm p ro
prietors’ incom e in years that saw capital gains. The
NIPAs will incorporate this new assum ption beginning
with 1998 and interpolate these estimates back to 1993
to transition the new m ethodology into the tim e series.
Misreporting adjustments. Estim ates o f nonfarm
proprietors’ incom e and o f wages and salaries will in
corporate updated underreporting adjustm ents. C ur
rently, these estimates are based on the IRS National
Research Program data for 2001 and judgm entally
trended after 2001. D ata for 20 0 6 will be incorporated
in the comprehensive revision, and the estimates for
2 0 0 2 -2 0 0 5 will be interpolated based on the newly
available data. The estimates for 20 0 7 forward will
continue to be based on judgm ental trend.
Regulated investment companies (RICs) distribu
tions. Beginning with 1992, BEA will introduce an im
proved m ethod for allocating the distribution o f the
investment incom e o f regulated investment companies
by type o f incom e. This m ethod is designed to m ore
accurately reflect differences between the tim ing o f
each type o f incom e and its distribution to sharehold
ers.
11
RICs (prim arily m utual funds) receive investment
incom e (in the form s o f interest, dividends, and real
ized capital gains), which after deducting expenses,
they are required to distribute to shareholders. In the
NIPAs, BEA assumes that each type o f incom e is dis
tributed to shareholders separately. BEA relies on SO I
data on the type o f incom e received by these com p a
nies and the total distributions paid by RICs to esti
mate interest and dividend paym ents to persons
recorded in the NIPAs. Currently, total distributions
are allocated by type based on incom e shares derived
from the SO I data on incom e receipts o f these co m p a
nies. This m ethod results in volatility due to both the
nature o f the incom e and the timing differences be
tween the recognition o f incom e (losses) by the RICs
and the distribution o f that incom e to shareholders,
m uch o f which is capital gains (losses). Tax law does
n ot allow regulated investment com panies to “distrib
ute” capital losses; instead, these com panies are al
lowed to carry forward capital losses and use the losses
to offset capital gains in future years. As a result, distri
butions o f capital gains are often poorly aligned with
reported capital gains receipts because o f the volatility
in the tim ing o f reporting losses. Under BEA’s current
methodology, these timing issues contribute to volatil
ity in the measures o f interest and dividend payments.
The new m ethodology is intended to m ore accu
rately estimate the distributions o f interest and divi
dend incom e, which are conceptually less volatile, by
deriving the capital gains distribution residually after
subtracting interest and dividend paym ents from total
distributions. BEA will calculate a 2-year m oving aver
age o f the shares o f interest and dividend incom e to to
tal incom e received by RICs (reflecting the lags
applicable to these types o f incom e) and apply these
shares to total deductions instead o f distributions. For
interest and dividends, the estim ated deductions will
then be subtracted from the reported incom e received
to derive interest and dividend paym ents; capital gains
distributions will then be derived residually by sub
tracting these estimated interest and dividend pay
m ents from total reported distributions. This approach
will reduce the spurious volatility in interest and divi
dend distributions that is currently caused by calculat
ing them together with the m ore volatile capital gains.
Indian tribal government compensation. In the
2003 comprehensive NIPA revision, BEA began classi
fying Indian tribal governments as local governments,
15. BEA has information on total corporate partners income (including and Indian casinos were reclassified as governm ent en
capital gains and other nonoperating income). BEA also has information
terprises from private businesses. Since then, addi
on the type of income of partnerships that have at least one corporate part
tional industry data on wages paid by tribal
ner, but it does not have information on how much a particular type of
income, such as capital gains, is earned by the corporate partners.
governm ents has becom e available from the BLS Q uar
12
Preview of the 2013 C om prehensive Revision of the NIPAs
terly Census o f Em ploym ent and Wages that allows for
an improved allocation o f wages paid by tribal govern
m ents to general governm ent and to casinos. As a re
sult, beginning with the estimates for 1990, wages for
state and local governm ent-sponsored enterprises will
be revised up, and general governm ent wages will be
revised down.
Supplemental unemployment insurance. Supple
m ental unem ploym ent insurance is a com p onen t o f
employer contributions for pension and insurance
funds. Currently, the estimates for 1997 forward have
been based on a judgm ental trend because o f the dis
continuation o f the source data. The IRS has made
available supplemental unem ploym ent insurance data
for the years 2 0 0 1 -2 0 0 9 , which will be incorporated.
For 1 9 9 6 -2 0 0 1 , the estimates will be interpolated to
com plete the tim e series.
Rents and royalties. This com prehensive revision
will expand the current NIPA definition o f rents and
royalties paid to the federal governm ent to include
conceptually similar transactions that are currently
classified as current transfer receipts from business.
The NIPA definition o f rents and royalties follows the
SNA classification o f natural resource royalties, which
are considered to be a form o f property incom e.16 Roy
alties are defined as paym ents m ade to the owners o f
land or subsoil assets in exchange for the right to lease
such assets for various productive uses. The new classi
fication will begin with the estimates for 1947 and will
prim arily use data from the C om bined Statement o f Re
ceipts and Expenditures published annually by the D e
p artm ent o f Treasury. The NIPAs will reclassify certain
federal receipts generated from natural resource leas
ing program s as rents and royalties rather than as cu r
rent transfers from business; in addition, other
accounts will be reclassified to rents and royalties
rather than being treated as reductions to current ex
penditures. Rents and royalties will include onshore
and land lease royalties in addition to the receipts from
the O uter Continental Shelf, which are offshore leases
already included in the NIPAs. The m ajority o f the new
receipts in rents and royalties will be from onshore
m ineral leases for oil and gas extraction.
Federal interest paid by government-sponsored
enterprises (GSEs). G overnm ent-sponsored enter
prises are private com panies that were established and
chartered by the federal governm ent. In the NIPAs,
governm ent-sponsored enterprises, such as Fannie
Mae and Freddie M ac, are treated as financial corp ora16. See System of National Accounts 2008, paragraph 7.110, 160.
May 2013
tions in the business sector.17 Beginning with 1970, in
terest paid by GSEs to the rest o f the world will be
excluded from the estimates o f governm ent interest
paid to the rest o f the world and will be included in
corporate business interest paid to the rest o f the
w orld.18 Although interest paid by GSEs to the rest of
the world is currently included in governm ent interest
paid to the rest o f the world, the NIPA estimate o f total
interest paid by governm ent is based on source data
that do n ot include interest paid by these enterprises;
thus, the new measure will improve the consistency o f
the accounts by m aking paym ents to the rest o f the
world consistent with total interest paid. The largest
GSEs issue debt to fund business activities in the pri
vate sector and to guarantee asset-backed securities
held by private banks. Accordingly, the debt issued to
finance business activities o f GSEs are considered p ri
vate sector activities and are classified as corporate
businesses in the NIPAs. This change will better align
the m easures o f business net interest and governm ent
interest paid with the NIPA classification o f GSEs in
the corporate business sector. Total federal interest
paym ents will n ot be revised as a result o f this reclassi
fication (because as noted above, the total is based on
source data that do n ot include paym ents by these en
terprises), but the distribution o f interest paid between
dom estic entities and the rest o f the w orld will be re
vised.
Changes from previous annual NIPA revisions
carried back
Mortgage interest paid for nonfarm permanent-site
housing. As part o f the 2011 annual NIPA revision,
BEA im proved its m ethodology for calculating the ef
fective rate o f interest on m ortgage debt outstanding,
beginning with the estimates for the first quarter o f
2 0 0 8 .19 As part o f this com prehensive revision, BEA
will incorporate this im proved m ethodology back to
2 0 05. In addition, BEA will further improve its esti
mates o f m ortgage interest by incorporating source
data from the IRS Inform ation Returns Program on
loan discount points for ow ner-occupied perm anent17. GSEs include the Federal National Mortgage Association (Fannie
Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), Fed
eral Home Loan banks, Federal Farm Credit banks, and the Federal Agri
cultural Mortgage Corporation.
18. The value added of government-sponsored enterprises is recorded in
the business sector, and their profits (or losses) are included in corporate
profits.
19. For more information on the 2011 NIPA annual revision, see Eugene
P. Seskin and Shelly Smith, “Annual Revision of the National Income and
Product Accounts,” Su rvey 91 (August 2011): 6-30.
May 2013
S urvey
of
C u r r e n t B u s in e s s
site housing, beginning with 1993, and by phasing out
h om e im provem ent loans for nonfarm ow ner-occupied perm anent-site housing. The effective rate o f in
terest is applied to the value o f m ortgage debt
outstanding published in the Federal Reserve B oard ’s
flow o f funds accounts to derive estimates o f m ortgage
interest paid. BEA’s improved m ethodology relies on
m onthly m ortgage servicing data on detailed loan
characteristics, including loan type, loan perform ance,
cu rrent interest rate, and unpaid balance. BEA will use
this data to co n stru ct an effective rate o f m ortgage in
terest, beginning with the first quarter o f 2005. In o r
der to avoid breaks in the historical tim e series, the
revised m ortgage rate will be interpolated between the
fourth quarter o f 2001 and the first quarter o f 2 0 0 5 . As
a result o f incorporating this change, BEA’s estimate of
the effective rate o f m ortgage interest will be lower
than the currently assumed rate, will lower the level of
m ortgage interest paid, and will increase the level of
rental incom e o f persons.
The 2013 comprehensive revision also provides an
opportunity for BEA to replace its current m ethodol
ogy for calculating loan discounts for m ortgage inter
est paid, which includes con tract interest and
m ortgage loan discounts, or “points.” Points represent
the present discounted value o f 1 percent o f the total
loan value over the life o f the loan. Currently, BEA’s es
tim ates o f points are trend extrapolations based on
data on origination fees and total fees and charges
from the Federal Housing A dm inistration and on his
torical data from the D epartm ent o f Housing and U r
ban Development (H U D ).20 BEA will use data on loan
discount points from the IRS Inform ation Returns
Program , beginning with 1999; to avoid breaks in the
tim e series o f m ortgage interest, these estimates will be
interpolated for 1 9 9 3 -1 9 9 9 .
Finally, BEA will adjust the estimate o f m ortgage in
terest to remove a double-count o f the interest paid on
hom e im provem ent loans. The Federal Reserve B oard ’s
flow o f funds data on m ortgage debt outstanding in
cludes hom e im provem ent loans. However, BEA cu r
rently estimates the interest paid on these loans, and as
a result, these loans have been double counted in the
estimates o f m ortgage interest paid. Beginning with
2000, BEA will m odify its estim ate o f m ortgage interest
paid by rem oving this double-counting.
PCE insurance estimates. The estimates o f medical
and hospitalization insurance, incom e loss insurance,
and property incom e insurance in PC E that were in20. The tabulations from HUD were discontinued in 1997.
13
troduced in the 2011 annual revision o f the NIPAs will
be im proved.21 For medical and hospitalization insur
ance services, im provem ents were incorporated back
to 2 0 0 4 in the 2011 annual revision o f the NIPAs. For
the 20 1 3 comprehensive revision, BEA will estimate
prem ium -to-benefit ratios from annual data on private
health insurance, M edicare Advantage plans, and M ed
icaid M anaged Care program s from A.M . Best for 2002
forward; for the estimates before 2 0 0 2 , this ratio is u n
revised and is based on available E con om ic Census
data. Beginning with 1992, BEA will also add the value
o f the A.M . Best data on M edicare Advantage plans
and on M edicaid M anaged Care program s to its data
from the Agency for Healthcare Research and Quality’s
M edical Expenditure Panel Survey on private health
insurance plans and from the U.S. Office o f Personnel
M anagem ent on federal health insurance plans in o r
der to estimate total medical and hospitalization insur
ance prem ium s.22 BEA will then apply the prem ium to-benefits ratio to its estimate o f total m edical and
hospitalization insurance prem ium s to derive esti
mates o f insurance benefits.
For incom e loss insurance, im provem ents were in
corp orated back to 2003 as part o f the 2011 annual
NIPA revision. As part o f the 20 1 3 comprehensive
NIPA revision, data from JH A M arket Survey for
Group Disability Prem ium s from General Re Life C o r
poration will be carried back in the estimate o f PC E for
incom e loss insurance beginning with 1997.
Finally, im provem ents to the deflators used to de
rive real PC E insurance services were incorporated
back to 20 0 8 as p art o f the 2011 annual NIPA revision.
As p art o f the 201 3 com prehensive revision, BEA will
extend the use o f specific producer price indexes (PPIs)
from BLS to deflate prem ium s and expected losses in
household insurance, m o to r vehicle insurance, and
w orkers’ com pensation insurance back to 20 0 2 and in
m edical and hospitalization insurance back to 2003.
H ousehold insurance will replace a weighted average o f
multiple consum er price indexes (CPIs) for expected
losses and the CPI for tenants’ and household insur
ance for prem ium s with the PPI for hom eow ner m ulti
ple peril insurance to deflate both prem ium s and
expected losses. M otor vehicle insurance will begin to
use the PPI for private passenger auto insurance as the
21. See Seskin and Smith, “Annual Revision of the National Income and
Product Accounts.”
22. The A.M. Best data have been available since 2002 and were incorpo
rated beginning with 2002 in the 2011 annual NIPA revision. National
Health Expenditure Accounts data from the Centers for Medicare and Med
icaid Services will be used to derive estimates for 1992-2001.
14
Preview of the 2013 C om prehensive Revision of the NIPAs
deflator for both prem ium s and expected losses, re
placing the CPI for m o to r vehicle insurance as the de
flator for prem ium s and an implicitly derived deflator
for expected losses. F or w orkers’ com pensation insur
ance, the PPI for w orkers’ com pensation will be used
to deflate both prem ium s and expected losses. Finally,
m edical and hospitalization insurance prem ium s and
benefits will now use a single deflator, the PPI for
health insurance, beginning with 2 0 0 3 ; this will replace
a BEA com posite index o f PPIs and CPIs for m edical
care goods and services used to deflate benefits and an
implicitly derived deflator for prem ium s based on ben
efits.
Improved deflation of fixed investment for new
light trucks. As p art o f the 2 0 0 7 annual NIPA revision,
BEA replaced the use o f PPIs with CPIs in its deflation
o f private fixed investment and governm ent new light
trucks. This im provem ent was then incorporated be
ginning with the estimates for the first quarter o f
2 0 0 4 .23 As part o f the 2013 com prehensive revision,
BEA will extend this im proved m ethodology back to
1987. The C PI, unlike the PPI, includes retail and
wholesale m argins. In addition, the CPI treats special
financing incentives as financial transactions that do
not affect prices; whereas the PPI treats such incentives
as a price change. Thus, the CPI provides a better m ea
sure o f the actual transaction price, which is m ore
23.
See Eugene P. Seskin and Shelly Smith, “Annual Revision of the
National Income and Product Accounts” S u rv e y 87 (August 2007): 6-30.
M ay 2 0 1 3
closely aligned with BEA’s m easure o f current-dollar
investment and will therefore produce a m ore accurate
estimate o f real m o to r vehicle output.
Updated Depreciation Rate
for Movie O riginals
In the March 2013 S urvey , an article described the
major changes in definitions and presentations that
will be implemented as part of the upcoming 2013
comprehensive revision of the national income and
product accounts.1 In that article, BEA stated that it
would use an annual rate of 3.8 percent to depreciate
the value of movie originals. Since then, additional
analysis of the data of sales of film libraries has
resulted in BEA’s increasing the annual depreciation
rate to 9.3 percent. The depreciation rates for the
other types of entertainment, literary, and artistic
originals have not been modified.
BEA also stated that the prices used to deflate theat
rical movies and long-lived television programs would
include an adjustment for productivity growth. How
ever, after additional analysis, BEA has decided that
the prices used for deflation of these components will
not include a productivity adjustment.
l .“Preview of the 2013 Comprehensive Revision of the National
Income and Product Accounts: Changes in Definitions and Presen
tations,” S u rv ey 93 (March 2013): 18-20.
15
May 2013
NIPA Translation of the Fiscal Year 2014
Federal Budget
B y M a r k S . L u d w ic k a n d K y le D. M u lg r e w
N APRIL 10, 2013, President Obama submitted
the Budget o f the United States Government, Fiscal
Year 2014 to Congress. The Analytical Perspectives vol
ume of this budget includes a presentation of federal
government transactions on a national income and
product account (NIPA) basis for fiscal years 2003
through 2014. These estimates are prepared by the Bu
reau of Economic Analysis (BEA) and are consistent
with the projected and proposed receipts and outlays
defined in the budget for the current fiscal year of 2013
and for the budget year of 2014. They are included in
the federal budget to assist readers in gauging the im
pact of the budget on aggregate economic activity.
This article presents fiscal year and quarterly NIPA
estimates for 2012, 2013, and 2014 that are more de
tailed than the estimates shown in the budget. Differ
ences between the fiscal year NIPA estimates presented
in this article and those presented in the budget are the
result of further analysis and the incorporation of data
that have become available since the publication of the
budget. Projected quarterly NIPA estimates will be
used by BEA in the development of estimates of federal
government transactions, including the federal gov
ernment component of gross domestic product
(GDP). These projections also provide users with
source data for making more detailed analyses and
forecasts of the macroeconomic effects of the budget.
The remainder of this article consists of four sec
tions. The first section compares budget receipts and
outlays to NIPA receipts and expenditures, showing
O
the various adjustments made to “translate” budget es
timates into NIPA estimates. The second section sum
marizes the budget and reviews the effects of major
legislative proposals and program changes. The third
section presents detailed annual and quarterly NIPA
estimates for fiscal years 2013 and 2014. The fourth
section explains the methodology that was used in
translating the budget projections into a NIPA frame
work.
C o m p ariso n of B u d g et
and NIPA E s tim ates
The results of the budget translation can be summa
rized by comparing the budget surplus or deficit with
the NIPA measure of net federal government saving
(chart 1, table 1). For 2013 and 2014, net federal gov
ernment saving is negative and larger in absolute value
than the budget deficit. Net federal government sav
ing for 2014 is -$803.7 billion, up $192.7 billion from
-$996.4 billion in 2013. The budget deficit for 2014 is
Chart 1. Federal Fiscal Position, Budget Surplus or
Deficit (-) and NIPA Net Saving
Billions of dollars
0
-2 0 0
-40 0
-600
Note on Quarterly Projections
The estimates in table 10 are consistent with actual
federal spending through the first quarter of 2013,
including reductions in spending to enforce the deficit
reduction targets defined by the loint Committee on
Deficit Reduction. The estimates for the second quar
ter of 2013 forward reflect quarterly patterns that are
consistent with budget proposals to replace the
enforcement of these deficit reduction targets with
alternate deficit reduction policies.
-80 0
-1 ,0 0 0
-1 ,2 0 0
-1,400
-1,600
2003
04
05
06
07
08
09
Fiscal years
10
Sources: Office of Management and Budget and Bureau of Economic Analysis
11
12
13
14
16
NIPA Translation of the Federal Budget
-$744.2 billion, down $228.7 billion from -$972.9 bil
lion in 2013.
NIPA current receipts are projected to be greater
than budget receipts for 2013 and 2014, as they have
been for all but two fiscal years since 1947. NIPA cur
rent expenditures are projected to be greater than bud
get outlays for 2013 and 2014, as they have been for
Table 1. Budget Receipts and Outlays and NIPA
Federal Government Current Receipts and Expenditures
[Billions of dollars]
Level for fiscal year
Actual
2012
Change
from preceding
fiscal year
Estimates
2013
2014
2013
2014
2,712.0 3,033.6
3,684.9 3,777.8
-972.9 -744.2
261.9
147.8
114.1
321.6
92.9
228.7
2,850.0 3,203.5
3,846.3 4,007.2
-996.4 -803.7
195.4
141.3
54.1
353.6
160.8
192.7
May 2013
every fiscal year since 1992 except 2009. The coverage,
netting and grossing, and timing adjustments that BEA
makes to translate the budget estimates into NIPA esti
mates are detailed in table 2 and table 3. Differences
between NIPA and budget estimates of spending on
national defense are shown in table 4.
For more information about the types of adjust
ments that contribute to the differences between NIPA
measures and budget measures, see the box “NIPA Es
timates of the Federal Sector and the Federal Budget
Estimates” on page 24.
Table 3. Relation of NIPA Federal Government
Current Expenditures to Budget Outlays
[Billions of dollars]
Budget:
2,450.2
Receipts..............................................
Outlays.................................................
3,537.1
Surplus or deficit ( - ) ...................... -1,087.0
Fiscal year
2012
NIPAs:
Current receipts.................................
Current expenditures........................
Net federal government saving
2,654.6
3,705.0
-1,050.5
Differences
Budget receipts less NIPA current
receipts............................................
Budget outlays less NIPA current
expenditures...................................
Budget deficit less NIPA net
federal government saving
-204.4
-138.0
-169.9
66.4
-31.9
-167.9
-161.4
-229.4
6.5
-68.0
-36.5
23.5
59.5
60.0
36.0
Budget of theUnitedStates, Fiscal Year2014and the Bureau of Econom ic Analysis.
Sources:
NIPAs National incom e and product accounts
Table 2. Relation of NIPA Federal Government
Current Receipts to Budget Receipts
[Billions of dollars]
Fiscal year
2012
2013
2014
Budget receipts................................................................... 2,450.2 2,712.0 3,033.6
Less: Coverage differences....................................................
27.2
26.1
26.6
Contributions received by federal employee retirement
plans 1.................................................................................
3.7
3.7
4.5
Capital transfers received 2.................................................
13.8
12.7
12.8
Financial transactions..........................................................
0.0
0.0
0.0
Other3....................................................................................
9.6
9.6
9.3
Less: Netting and grossing differences................................. -157.0 -152.3 -213.2
Supplementary medical insurance premiums.................. -64.5 -69.4 -72.3
Income receipts on assets.................................................
-37.6 -33.2 -51.3
Current surplus of government enterprises......................
12.0
37.0
17.7
O ther4....................................................................................
-67.0 -86.7 -107.3
Plus: Timing differences...........................................................
74.6
11.8 -16.7
8.2
Taxes on corporate income.................................................
37.3
-0.8
Federal and state unemployment insurance taxes
-0.7
-3.5
1.0
Withheld personal current tax and social security
contributions......................................................................
22.5
4.1 -12.1
Excise taxes..........................................................................
-1.2
4.5
-1.5
Other......................................................................................
0.0
13.8
-1.9
Equals: NIPA federal government current receipts.......... 2,654.6 2,850.0 3,203.5
1. included in the NIPA personal sector.
2. Consists of estate and gift taxes.
3. Beginning with 1996, consists largely of Universal Service Fund receipts. Includes certain reve
nues collected from and repaid to U.S. territories and the C om m onwealths of Puerto Rico and
N orthern M ariana Islands.
4. Includes proprietary receipts that are netted against outlays in the budget and that are classified
as receipts in the NIPAs and som e transactions that are not reflected in the budget but that are added
to both receipts and expenditures in the NIPAs.
Sources:
and the Bureau of Econom ic
Analysis.
NIPAs National incom e and product accounts
Budget of the UnitedStates Government, Fiscal Year2014
2013
2014
Budget outlays................................................................
3,537.1
3,684.9 3,777.8
Less: Coverage differences...............................................
96.2
14.2
18.7
-140.0
135.3
0.2
-98.6
9.1
14.2
97.7
58.8
0.5
-37.1
-43.0
-142.4
148.0
0.2
-141.1
9.6
0.7
88.0
79.2
-1.6
-32.4
-42.1
-143.7
153.2
0.2
-150.0
9.8
-17.8
88.4
99.3
58.0
4.1
0.0
-3.4
0.1
0.0
0.1
0.8
-157.0
-64.5
-37.6
12.0
-67.0
107.1
8.4
75.1
16.3
7.3
94.5
25.9
0.0
-41.2
0.1
0.0
0.1
1.1
-152.3
-69.4
-33.2
37.0
-86.7
9.7
1.1
0.2
9.2
-0.7
100.3
15.8
0.0
-16.8
0.1
0.0
0.1
0.9
-213.2
-72.3
-51.3
17.7
-107.3
14.6
-1.6
0.2
16.2
-0.1
Federal employee retirement plan transactions1........
Interest received...........................................................
Contributions received (employer).............................
Benefits paid................................................................
Administrative expenses.............................................
Financing disbursements from credit programs2........
Other differences in funds covered3.............................
Net investment4..............................................................
Capital transfers paid 5....................................................
Financial transactions.....................................................
Loan disbursements less loan repayments and
sales..........................................................................
Deposit insurance.......................................................
Net purchases of foreign currency............................
Other.............................................................................
Net purchases of nonproduced assets........................
Outer Continental Shelf..............................................
Land and other6.........................................................
O ther7..............................................................................
Less: Netting and grossing differences............................
Supplementary medical insurance premiums.............
Interest receipts...............................................................
Current surplus of government enterprises.................
O ther8..............................................................................
Plus: Timing differences.....................................................
Purchases (increase in payables net of advances)....
Interest..............................................................................
Current transfer payments.............................................
Other timing 9..................................................................
Equals: NIPA federal government current
expenditures................................................................
3,705.0 3,846.3 4,007.2
1. These transactions are included in the NIPA personal sector and include the Uniform ed Services
Retiree Health Care Fund.
2. C onsists of transactions (not included in the budget totals) that record all cash flow s arising from
post-1991 direct loan obligations and loan guarantee com m itm ents. Many of these flows are for new
loans or loan repayments; therefore, related entries are included in “Loan disbursem ents less loan
repayments and sales.”
3. C onsists largely of agencies or accounts, such as the Postal Service and the Federal Financing
Bank, that were not included in the budget in som e periods, and the Universal Service Fund. Includes
repayments of certain collections from the U.S. territories and the Com m onwealths o f Puerto Rico and
N orthern M ariana Islands.
4. Net investm ent is gross investm ent less consum ption of fixed capital for governm ent enterprises
and general government.
5. Consists of investm ent grants to state and local governm ents and m aritim e construction subsi
dies. Excludes the forgiveness of debts owed by foreign governm ents to the U.S. governm ent or
paym ents to the Uniformed Services Retiree Health Care Fund to am ortize unfunded liability; both are
classified as capital transfers paid by the United States and are excluded from both budget outlays and
NIPA current expenditures.
6. Consists of net sales of land other than the O uter C ontinental Shelf and includes auctions of
licenses for the electrom agnetic spectrum .
7. C onsists largely of net expenditures of foreign currencies.
8. Includes proprietary receipts that are netted against outlays in the budget and that are classified
as receipts in the NIPAs and som e transactions that are not reflected in the budget data but that are
added to both receipts and expenditures in the NIPAs.
9. Prim arily includes tim ing on subsidies and governm ent enterprises.
Sources:
and the Bureau of Econom ic
Analysis.
NIPAs National incom e and product accounts
Budget of the UnitedStates Government, Fiscal Year2014
May 2013
17
S u r v e y o f C u r r e n t B u s in e s s
Table 4. Relation of National Defense Consumption
Expenditures and Gross Investment
to National Defense Outlays
[Billions of dollars]
Fiscal year
2012
2013
2014
Budget outlays for national defense................................................ 677.9 660.0 626.8
Department of Defense, military................................................... 650.9 633.3 597.6
Military personnel........................................................................ 152.3 161.4 146.0
Operation and maintenance...................................................... 282.3 268.5 271.2
Procurement................................................................................ 124.7 116.9 99.5
37.1 37.1 30.4
Aircraft......................................................................................
6.4
6.8
6.8
Missiles.....................................................................................
12.4 13.5 12.9
Ships.........................................................................................
7.5
6.0
5.3
Weapons...................................................................................
2.1
2.1
2.3
Ammunition..............................................................................
59.1 51.5 42.1
Other1.......................................................................................
70.4 69.6 66.1
Research, development, test, and evaluation.........................
21.2 16.8 14.7
Other............................................................................................
27.0 26.8 29.2
Atomic energy and other defense-related activities...................
Plus: Consumption of general government fixed capital...........
97.8 100.3 99.6
Additional payments to military and civilian retirement funds 53.4 55.0 56.5
Less: Grants-in-aid to state and local governments and net
interest paid
Timing differences......................................................................
Other differences.........................................................................
Equals: NIPA national defense consumption expenditures
and gross investment............................................................
Less: National defense gross investment2.................................
3.8
-9.7
20.1
4.1
-2.1
22.1
B u d g et E stim ates
The budget projects that federal receipts will increase
$261.9 billion in 2013 and $321.6 billion in 2014 (table
5). Excluding the effects of legislative proposals, which
will be discussed in the next section, the acceleration in
federal receipts in 2014 can be largely attributed to the
introduction of penalties and excise taxes established
by the Patient Protection and Affordable Care Act of
2010 and to a projected increase in economic activity,
including a projected acceleration in real GDP. Eco
nomic growth would result in an increased tax base
that would increase individual and corporate income
taxes and employment taxes.
Federal outlays are projected to increase $147.8 bil
lion in 2013 and $92.9 billion in 2014 (table 6). This
Table 5. Budget Receipts by Source
[Billions of dollars]
3.8
0.8
17.8
814.9 791.3 760.4
106.2 102.0
Change from
preceding year
Level for
fiscal year
2012
2013
2014
Budget receipts.......................... 2,303.5 2,450.2 2,712.0 3,033.6
146.7
261.9
321.6
Individual income taxes............. 1,091.5 1,132.2 1,234.0 1,383.2
Corporation income taxes......... 181.1 242.3 287.7 332.8
Social insurance taxes and
contributions............................ 818.8 845.3 951.1 1,030.7
72.4
79.1
85.3 104.9
Excise taxes................................
7.4
12.9
13.0
14.0
Estate and gift taxes...................
29.5
30.3
33.6
38.8
Customs duties..........................
102.8 107.0 107.3 130.3
Miscellaneous receipts..............
40.7
61.2
101.8
45.4
149.2
45.1
26.5
6.7
6.6
0.8
4.2
105.8
6.3
-1.0
3.3
0.3
79.6
19.6
0.1
5.1
22.9
2011
2012
2013
2014
87.3
Equals: NIPA national defense consumption expenditures... 708.7 689.3 673.1
1. Includes outlays tor m ilitary construction, fam ily housing, and anticipated funding for war opera
tions.
2. G ross investm ent consists of general governm ent expenditures for fixed assets; inventory invest
m ent is included in federal governm ent consum ption expenditures.
Sources: Budget of the United States Government, Fiscal Year 2014 and the Bureau of Economic
Analysis.
NIPAs National incom e and product accounts
Source: Budget of the United States Government, Fiscal Year 2014.
Timing Adjustment to Interest Paid
Budget outlays for Treasury interest on the public debt
decreased by $75 billion in 2012, reflecting a change
from an accrual-based method to a cash-based
method of accounting for interest transactions with
defense retirement funds. In the accrual-based
method, differences between the face value and the
purchase price of a security due to discounts or premi
ums are amortized as positive or negative interest over
the life of the security. In the cash-based method, pre
miums are recorded as negative interest collections by
the investing account at the time the security is pur
chased and discounts are recorded as interest collec
tions at the time the security is redeemed. Because
defense retirement funds hold large amounts of Trea
sury securities that were purchased at a premium, this
accounting change resulted in the recording of large
negative interest outlays by Treasury in 2012. The
amount of these negative outlays reflects the premi
ums that would have been recorded at the time that
these Treasury securities were purchased under cashbased accounting rules. For 2012, a timing adjustment
of $75 billion was made to budget outlays for Treasury
interest in order to produce a consistent presentation
of federal interest paid over time in the NIPAs.
Table 6. Budget Outlays by Function
[Billions of dollars]
Change from
preceding year
Level for
fiscal year
2011
2012
2013
2014
2012
Budget outlays.............................. 3,603.1 3,537.1 3,684.9 3,777.8 -65.9
Social security................................
National defense...........................
Income security..............................
Medicare.........................................
Health..............................................
Net interest.....................................
Veterans benefits and services....
Education, training, employment,
and social services....................
Transportation................................
Administration of justice...............
International affairs........................
Natural resources and
environment................................
Community and regional
development...............................
General science, space, and
technology..................................
General government......................
Agriculture.......................................
Energy.............................................
Allowances1...................................
Commerce and housing credit....
Undistributed offsetting receipts 2
2013
147.8
2014
92.9
47.2
45.1
-17.8 -33.3
22.7 -22.2
38.8
20.3
71.0
24.9
2.3
0.1
8.7
15.0
730.8
705.6
597.4
485.7
372.5
230.0
127.2
773.3
677.9
541.3
471.8
346.7
220.4
124.6
818.4
660.0
564.0
510.5
371.7
222.8
139.6
865.6
626.8
541.8
530.9
442.7
222.9
148.2
42.5
-27.7
-56.0
-13.9
-25.8
-9.6
-2.6
101.2
93.0
56.1
45.7
90.8
93.0
56.3
47.2
84.6
94.5
60.6
56.9
129.0
103.8
58.7
55.9
-10.4
0.1
0.2
1.5
-6.3
1.5
4.3
9.7
44.5
9.4
-1.8
-1.0
45.5
41.6
37.7
40.2
-3.8
-4.0
2.5
23.9
25.1
38.0
34.7
1.2
12.9
-3.3
29.1
29.5
27.5
28.0
20.7
17.8
12.2
14.9
0.0
0.0
-12.6
40.8
-88.5 -103.5
30.7
30.5
27.0
15.1
-0.2
17.7
-95.1
30.2
28.9
23.5
12.7
4.1
-30.1
-92.6
-0.4
0.6
-2.9
2.7
0.0
53.4
-15.1
1.7
2.4
9.3
0.2
-0.2
-23.1
8.4
-0.6
-1.5
-3.6
-2.4
4.3
-47.9
2.5
1. Allowances are included in budget totals to cover certain budgetary transactions that are expected to
increase or decrease outlays, receipts, or budget authority but are not reflected in the program details.
2. Undistributed offsetting receipts are tw o categories of collections that are governm ental in nature and that
are not credited to expenditure accounts: Receipts from performing business-like activities, such as proceeds
from selling federal assets or leases, and shifts from one account to another, such as agency paym ents to retire
m ent funds.
Source: Budget of the United States Government, Fiscal Year 2014.
NIPA Translation of the Federal Budget
18
projected pattern of outlays is primarily the result of
proposed legislation, including the replacement of
broad spending cuts that were mandated by the Budget
Control Act of 2011 (BCA) with alternate deficit re
duction policies for both 2013 and 2014.
Proposed legislative and program changes
Budget estimates include projections of receipts and
outlays that are based on current law as well as on
policy proposals. Policies that are not in the currentlaw baseline but that the administration believes are
needed to better represent the deficit outlook under
current policy and to serve as a more appropriate
benchmark for measuring policy changes are included
in the budgets adjusted baseline. In the FY 2014 bud
get, the current-law baseline includes reductions in
discretionary spending caps for 2013 and mandatory
sequestration cuts for 2013 and 2014 that are required
to enforce the deficit reduction targets defined by the
Joint Committee on Deficit Reduction, as established
by the BCA. The adjusted baseline also includes reduc
tions in discretionary spending caps for 2014 through
2021 and mandatory sequestration cuts for 2015
through 2021. The adjusted baseline also includes a
postponement of scheduled reductions in Medicare
payments for physician services.
Additional policies that are included in the budget
but that are not in the adjusted baseline are treated as
proposed legislation. If enacted, proposed legislation
would, relative to the adjusted baseline, reduce federal
receipts $0.1 billion in 2013 and increase federal re
ceipts $33.3 billion in 2014. Proposed legislation would
increase federal outlays $53.4 billion in 2013 and
$150.4 billion in 2014. The resulting net effect of pro
posed legislation would be to increase the federal defi
cit $53.5 billion in 2013 and $117.1 billion in 2014
(table 7).
Acknowledgments
Translation of fiscal year 2014 federal budget data into
the framework of the national income and product
accounts (NIPAs) was conducted under the general
direction of Pamela A. Kelly, Chief of the Government
Division, and Benjamin A. Mandel, Chief of the Fed
eral Branch of the Government Division. The follow
ing economists contributed to the preparation of the
NIPA federal government statistics presented in this
article: Peter G. Beall, Stan J. Bellotti, Andrew P.
Cairns, Andrea L. Cook, Mark S. Ludwick, Ann W.
Miller, Kyle D. Mulgrew, Farah Naz, Michael D. Ran
dall, Michelle D. Robinson, Mary L. Roy, Benyam M.
Tsehaye, Andrew E. Vargo, Bryan A. Williams, and
Keith P. Zipay.
May 2013
Table 7. Proposed Legislative and Program Changes in the Budget
[Billions of dollars]
Fiscal Year
2013
2014
Receipts
Current-services estimates1.
2,712.2 3,000.3
Plus: Proposed legislation excluding proposals assumed in the baseline 2
- 0 .1
Effects of December Compromise Deficit Reduction Package................
Reduce the value of certain tax expenditures.........................................
Implement the Buffett Rule by imposing a new “Fair Share Tax” .........
Other.............................................................................................................
Increase tobacco excise taxes.....................................................................
Tax carried interest as ordinary income.......................................................
Suspend repayment of state unemployment insurance debt...................
Introduce a small-business tax credit for new jobs and wage increases.
Other.................................................................................................................
- 0 .1
33.3
31.2
24.6
5.3
1.3
7.7
3.4
-2.5
-1 0 .2
3.7
Equals: The budget..
2,712.0 3,033.6
Outlays
Current-services estimates1...........................................................................
3,631.5 3,627.4
Plus: Program changes excluding proposals assumed in the baseline2..
By function:
National defense.......................................................................................
Education, training, employment, and social services........................
Allowances3 ..............................................................................................
Income security..........................................................................................
Commerce and housing credit................................................................
Medicare.....................................................................................................
Transportation............................................................................................
Health.........................................................................................................
General government.................................................................................
Community and regional development..................................................
Net interest................................................................................................
Agriculture..................................................................................................
Energy........................................................................................................
General science, space, and technology..............................................
Social security............................................................................................
Veterans benefits and services...............................................................
International affairs...................................................................................
Natural resources and environment.......................................................
Undistributed offsetting receipts.............................................................
Administration of justice...........................................................................
By proposal:
Replace Joint Committee enforcement with alternative deficit reduction
proposals........................................................................................................
Fund new job creation initiatives....................................................................
Reform student loan interest rates.................................................................
Invest in infrastructure......................................................................................
Provide financial relief to the Postal Service.................................................
Consolidate job training and employment service programs.....................
Align Medicare drug rebate policies with Medicaid......................................
Other...................................................................................................................
53.4
150.4
21.7
-4.8
45.0
44.5
28.3
8 .0
1 1 .8
1.3
6.3
0.7
3.7
9.1
5.6
5.4
4.1
2.5
2.3
1 2 .8
1.1
0 .8
0 .8
1.1
0.5
0.5
0.7
0.4
0.5
0.5
0 .2
0 .0
- 1 .1
-0.7
0.9
-0.5
-3.4
3.0
- 1 .2
48.2
-1.3
-3.2
-4.1
1 .6
87.1
30.8
8.5
1 2 .0
0 .0
1 .6
0 .0
0 .0
5.6
4.7
4.0
-3.1
9.4
-£.4
Equals: The budget.........................................
3,684.9 3,777.8
Current-services surplus or deficit (-)..........
Proposed changes, receipts less outlays....
Administration budget surplus or deficit (-).
-919.4 -627.1
-53.5 -117.1
-972.9 -744.2
Addenda:
Budget Enforcement Act current-services baseline surplus or deficit (-).
Plus: Adjustments to reflect current tax policies...........................................
Plus: Adjustments to reflect current spending policies................................
Reflect Joint Committee enforcement4......................................................
Set discretionary budget authority at cap levels in Budget Control Act.,
Prevent reduction in Medicare physician payments.................................
Other...............................................................................................................
Equals: Current-services surplus or deficit (-)..............................................
-912.2 -687.2
-7.2
60.1
50.3
-0 .2
19.9
-15.4
-7.0
5.3
-919.4 -627.1
1. These current-services estim ates reflect proposed adjustm ents to the Balanced Budget and Em ergency
D eficit C ontrol Act current-services baseline. For inform ation on these adjustm ents, see “Budget Process" in
Analytical Perspectives, 164-166.
2. Consistent w ith the budget, the proposed legislation excludes those proposals that are included in the base
line.
3. Allowances are included in budget totals to cover certain budgetary transactions that are expected to
increase or decrease outlays, receipts, or budget authority but that are not reflected in the program details.
4. Includes the effects of discretionary cap reductions for 2014.
Source:
Budget of theUnitedStatesGovernment, Fiscal Year2014
May 2013
Receipts
The following legislative proposals would increase re
ceipts in fiscal year 2014:
•A proposal to limit the tax rate at which taxpayers
can itemize deductions to reduce their tax liability
to a maximum of 28 percent would increase federal
receipts by a projected $24.6 billion.
•A proposal to implement the “Buffett Rule” by
imposing a new “Fair Share Tax” for high-income
taxpayers would increase federal receipts by a pro
jected $5.3 billion.
•A proposal to increase tobacco excise taxes would
increase federal receipts by a projected $7.7 billion.
•A proposal to tax carried interest as ordinary
income would increase federal receipts by a pro
jected $3.4 billion.
The following legislative proposals would reduce re
ceipts in fiscal year 2014:
•A proposal to provide a temporary 10 percent tax
credit to small businesses for any increase in wages
resulting from new hires or for wage increases for
existing employees would reduce federal receipts by
$10.2 billion.
•A proposal to suspend the collection of debts and
the accrual of interest on debts owed by state gov
ernments to the federal Unemployment Insurance
Trust Fund would reduce federal receipts by $2.5
billion.
Outlays
The following legislative proposals would increase
budget outlays in fiscal years 2013 and 2014:
•Replacing the enforcement of deficit reduction tar
gets related to the Joint Committee on Deficit
Reduction with alternative deficit reduction policies
would increase outlays by $48.2 billion in 2013 and
$87.1 billion in 2014.
•Job creation initiatives would increase outlays by
$1.6 billion in 2013 and $30.8 billion in 2014.
•Reforming student loan interest rates would
increase outlays by $8.5 billion in 2013 and $12.0
billion in 2014.
•A proposal to invest in infrastructure projects to
improve roads, bridges, transit systems, border
crossings, railways, and runways would increase
outlays by $5.6 billion in 2014.
•Proposals to provide financial relief to the U.S.
Postal Service, including a plan to restructure the
financing of health benefits and changes to opera
tions, would increase outlays by $1.6 billion in 2013
and $4.7 billion in 2014.
19
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 establish a Universal Displaced
Worker program that would consolidate federal job
training and employment service programs would
increase outlays by $4.0 billion in 2014.
The following legislative proposal would reduce
budget outlays in fiscal year 2014:
•A proposal that would require pharmaceutical com
panies to provide rebates for prescription drugs to
private Medicare insurers would reduce outlays by
$3.1 billion in 2014. These rebates would be equiva
lent to the rebates currently provided to Medicaid
insurers.
NIPA E stim ates
Fiscal year estimates
Receipts. Total NIPA federal government current re
ceipts are projected to increase $195.4 billion in 2013
and $353.6 billion in 2014 (table 8 and chart 2). This
acceleration is the result of projected increases in the
tax base, which are based on economic assumptions
defined in the budget, and the impacts of proposed
legislation.
Contributions for government social insurance are
projected to increase $125.9 billion in 2013 and $79.2
billion in 2014. The larger increase in 2013 is the result
of the expiration of the “Payroll Tax Holiday,” which
Table 8. Sources of Change in NIPA
Federal Government Current Receipts
[Billions of dollars]
Change from
preceding fiscal year
2012
2013
2014
Total current receipts...................................................
153.1
195.4
353.6
Current tax receipts..........................................................
Personal current taxes..................................................
Due to tax bases.......................................................
Due to proposed legislation.....................................
Taxes on production and imports................................
Due to tax bases.......................................................
Due to proposed legislation.....................................
Taxes on corporate income..........................................
Due to tax bases.......................................................
Due to proposed legislation.....................................
Taxes from the rest of the world..................................
Contributions for government social insurance............
Due to tax bases...........................................................
Due to proposed legislation.........................................
Income receipts on assets..............................................
159.8
100.9
100.9
0.0
14.6
14.6
0.0
43.3
43.3
0.0
1.0
9.3
9.3
0.0
94.5
71.9
72.0
-0.1
3.7
3.7
0.0
17.2
17.2
0.0
1.6
125.9
125.9
0.0
-4.9
-3.9
206.9
136.8
111.7
25.1
25.6
14.1
11.5
45.1
47.4
-2.3
-0.5
79.2
79.2
0.0
18.5
Current transfer receipts...................................................
Current surplus of government enterprises...................
-10.1
-1.0
4.0
-25.0
29.6
19.3
168.1
0.0
218.8
-0.1
252.4
34.3
Addenda:
Total due to tax bases......................................................
Total due to proposed legislation....................................
Budget of the UnitedStates Government, Fiscal Year2014and the Bureau of Econom ic
Sources:
Analysis.
NIPAs National incom e and product accounts
NIPA Translation of the Federal Budget
20
temporarily reduced social security contribution rates
for employees and the self-employed in calendar years
2011 and 2012.
Chart 2. Federal Government Current Receipts
Billions of dollars
4.500
4.000
3.500
[ 1 O th er receipts
□ Incom e receipts on assets
Expenditures. Total NIPA federal government cur
rent expenditures are projected to increase $141.3 bil
lion in 2013 and $160.8 billion in fiscal 2014 (table 9
and chart 3). This acceleration reflects an acceleration
in grants-in-aid to state and local governments, which
is largely the result of increased federal funding for
Medicaid benefits provided in the Patient Protection
and Affordable Care Act.
Quarterly pattern
BEA prepares seasonally adjusted quarterly NIPA esti
mates of federal government current receipts and cur
rent expenditures for 2013 and 2014 that are consistent
■ Current transfer receipts
□
□
■
□
M ay 2 0 1 3
Taxes on production and imports
Taxes on corporate incom e
C ontributions for governm en t social insurance
Personal current taxes
3.000
Table 9. Sources of Change in
NIPA Federal Government Current Expenditures
2,500
[Billions of dollars]
2 ,0 0 0
Change from
preceding fiscal year
1,500
2012
Total current expenditures..................................................
1 ,0 0 0
2003
04
05
06
07
08
09
10
Fiscal years
11
12
13
14
Sources: Office of Management and Budget and Bureau of Economic Analysis
Chart 3. Federal Government Current Expenditures
Billions of dollars
4.500
4.000
3.500
3.000
2.500
2 .0 0 0
1.500
1 ,0 0 0
Other current transfer payments paid to the rest of the
world...............................................................................
500
0
2003
Consumption expenditures.................................................
National defense...............................................................
Pay raise and locality pay............................................
Other..............................................................................
Nondefense......................................................................
Pay raise and locality pay............................................
Other..............................................................................
Current transfer payments...................................................
Government social benefits to persons........................
Social Security..............................................................
Medicare........................................................................
Supplemental security income...................................
Refundable tax credits.................................................
Veterans benefits..........................................................
Unemployment benefits...............................................
Supplemental Nutrition Assistance Program............
Other..............................................................................
Government social benefits to the rest of the world....
Grants-in-aid to state and local governments..............
General public service.................................................
National defense..........................................................
Public order and safety................................................
Economic affairs...........................................................
Transportation...........................................................
Space..........................................................................
Other economic affairs.............................................
General economic and labor affairs...................
Agriculture..............................................................
Energy....................................................................
Natural resources..................................................
Housing and community services..........................
Health.........................................................................
Medicaid.................................................................
Prescription drug plan clawback........................
Other......................................................................
Recreation and culture.............................................
Education...................................................................
Income security........................................................
Disability.................................................................
Welfare and social services.................................
Unemployment......................................................
Other......................................................................
04
05
06
07
08
09
Fiscal years
10
11
Sources: Office of Management and Budget and Bureau of Economic Analysis
12
13
14
Federal interest paid............................................................
Subsidies...............................................................................
Agriculture..........................................................................
Housing..............................................................................
Other...................................................................................
Source: Bureau of Economic Analysis.
NIPAs National income and product accounts
2013
2014
160.8
-61.8
8.6
-4.2
0.0
-4.2
12.8
0.0
12.8
-59.4
3.6
42.1
-0.9
2.8
-14.6
-0.8
-20.4
3.0
-7.6
1.4
141.3
4.5
-19.4
1.4
-20.8
23.9
0.0
23.9
126.8
97.2
44.2
44.3
2.4
1.8
12.8
-11.8
0.9
2.6
1.1
-1.8
-16.2
3.3
-19.5
14.4
1.3
13.2
158.4
90.0
46.3
23.1
2.4
2.5
11.3
-24.8
-6.6
35.8
0.7
-56.8
0.4
-0.2
-0.3
-3.2
0.0
0.0
-3.2
-1.9
-0.3
-1.5
0.5
-3.3
-24.9
-24.2
-1.8
1.1
-0.1
-17.8
-7.3
-0.1
-6.1
-0.2
-0.9
21.5
0.0
0.4
0.1
-1.2
0.0
0.0
-1.2
0.7
0.3
-2.5
0.3
1.3
18.0
16.0
-0.4
2.4
0.0
-1.1
4.1
-0.1
2.9
-0.9
2.2
72.7
2.6
-0.4
0.3
14.0
0.0
0.0
14.0
14.4
0.1
-0.7
0.3
6.7
36.3
37.0
-0.3
-0.4
0.0
7.6
5.6
0.1
2.1
1.6
1.9
-7.6
-11.6
0.6
-0.2
-0.4
1.2
6.9
-1.1
11.1
0.0
0.5
10.6
-5.0
4.1
0.1
0.0
1.7
-1.5
May 2013
21
S u r v e y o f C u r r e n t B u s in e s s
with the federal budget and that reflect the quarterly
patterns that would result from enacted and proposed
legislation (table 10) (see the “Note on Quarterly Pro
jections”). These estimates are extrapolated from pub
lished NIPA estimates for the first quarter of 2013,
which were released on April 26, 2013.
In general, because of the limited information avail
able to estimate quarterly patterns, the estimates in this
article should be viewed as approximations that will be
superseded by more reliable quarterly estimates that
will be published monthly in NIPA table 3.2.
Receipts. The quarterly NIPA estimates of current
receipts are also based on the administrations pro
jected pattern of wages and reflect BEA’s methodology
Table 10. NIPA Federal Government Current Receipts and Expenditures— Continues
[Billions of dollars; calendar year and quarters at seasonally adjusted annual rates]
C alendar year
Q uarter
Fiscal year e s tim a te s1
P u b lish e d 2
Estim ated
Published 2 Estim ated
2012
2012
2013
2014
2012
2013
2014
2013
I
II
III
IV
I
II
III
IV
I
II
III
C u rre n t re c e ip ts ............................................
2,654.6
2,850.0
3,203.5
2,675.7
2,923.9
2,664.9
2,659.5
2,673.4
2,705.0
2,890.7
2,882.4
2,914.9
3,007.7
3,165.9
3,221.4
3,282.6
C urrent tax re ce ip ts....................................................................
Personal current taxes
W ithheld incom e taxes
Declarations and final settlem ents less refun ds........
Proposed legislation.....................................................
O th e r...............
1,625.7
1,131.9
1,035.7
96.2
1,720.2
1,203.8
1,063.8
140.0
-0 .1
140.1
1,927.1
1,340.6
1,074.8
265.8
25.0
240.7
1,645.6
1,140.0
1,037.5
102.5
1,712.3
1,200.0
1,061.6
138.4
6.2
132.2
1,629.2
1,124.9
1,027.1
97.7
1,631.2
1,131.0
1,030.7
100.3
1,650.1
1,141.4
1,037.6
103.8
1,671.7
1,162.8
1,054.7
108.1
97.7
100.3
103.8
108.1
1,686.4
1,180.2
1,061.6
118.6
0.0
118.6
1,689.1
1,193.0
1,061.5
131.4
0.0
131.4
1,707.9
1,199.8
1,061.6
138.3
- 0 .4
138.6
1,765.9
1,226.9
1,061.7
165.2
25.0
140.2
1,882.4
1,313.6
1,058.0
255.6
25.0
230.6
1,918.2
1,328.3
1,073.4
254.9
25.0
229.9
1,963.7
1,361.4
1,104.0
257.5
25.0
232.4
Taxes on production and im p o rts .......................................
Proposed legislation
O th e r....................
118.6
122.3
0.0
122.3
147.9
11.5
139.9
116.0
125.6
2.9
123.6
113.3
115.2
116.1
119.4
113.3
115.2
116.1
119.4
118.3
0.0
118.3
120.9
0.0
120.9
124.3
0.0
124.3
138.9
11.5
130.8
144.1
11.5
136.1
148.5
11.5
140.4
151.8
11.5
143.7
420.7
92.5
328.2
-2 .3
330.5
372.3
78.8
293.5
375.7
84.3
291.4
368.1
83.3
284.8
375.5
75.9
299.5
369.7
71.5
298.2
298.2
369.7
71.5
298.2
0.0
298.2
357.1
74.3
282.7
0.0
282.7
365.6
77.8
287.8
-0.1
287.9
381.9
82.6
299.4
-2 .3
301.7
406.5
84.7
321.8
-2 .3
324.1
423.2
84.2
339.1
-2 .3
341.4
432.2
81.0
351.2
-2 .3
353.5
96.2
118.6
102.5
116.0
Taxes on corporate incom e 3...............................................
Federal Reserve B a n k s....................................................
O ther corporate profit tax a ccru als................................
Proposed legislation................................................
O th e r..........
358.4
82.3
276.1
276.1
375.7
83.4
292.3
0.0
292.3
293.5
368.6
76.6
292.0
-0 .6
292.6
291.4
284.8
299.5
Taxes from the rest of the w o rld .........................................
16.7
18.4
17.9
17.3
18.2
15.4
16.9
17.1
19.9
18.2
18.2
18.2
18.2
18.2
18.2
18.2
C ontributions for social in su ra n ce ..........................................
D o m e stic ..................................................................................
Old age, survivors, disability, and hospital insurance
Tax on wages and salaries (FICA, gross)...............
Proposed legislation................................................
Rate chan ge...............................................................
Base increases
January 2013
January 2 0 1 4 ........................................................
O th e r..........
FICA refunds.,
V oluntary hospital in su ra n ce ......................................
Tax on self-em ploym ent earnings (S E C A ).............
Base increases..........................................................
O th e r............................................................................
S upplem entary m edical insurance................................
U nem ploym ent insurance................................................
O th e r...................
Rest of the w o rld ...
931.1
926.1
787.5
740.6
1,057.0
1,051.2
909.2
856.6
1,136.2
1,130.1
987.4
927.6
935.5
930.9
794.3
747.9
1,098.8
1,093.4
950.6
899.1
929.3
924.8
787.7
741.7
931.5
926.9
790.4
744.0
936.0
931.3
795.2
748.6
945.1
940.4
804.1
757.4
89.0
0.9
0.9
1,094.8
1,089.4
946.5
895.7
00
1186
3.7
3.7
1,103.0
1,097.5
955.7
903.9
00
1186
3.7
3.7
1,112.4
1,106.8
964.9
912.0
00
1186
3.7
3.7
747.9
-1 .7
3.4
44.7
0.0
44.7
60.7
61.1
14.8
4.6
118.6
3.7
3.7
0.0
776.8
- 1 .9
3.5
49.9
5.7
44.2
65.4
61.5
16.1
5.4
1,085.1
1,079.9
935.1
884.8
00
118.6
3.7
3.7
741.7
-1 .7
3.3
44.4
0.0
44.4
60.4
61.9
14.7
4.6
744.0
-1 .7
3.4
44.7
0.0
44.7
60.6
61.2
14.8
4.6
748.6
-1 .7
3.4
44.8
0.0
44.8
60.7
60.7
14.8
4.6
757.4
- 1 .7
3.4
44.9
0.0
44.9
60.9
60.6
14.9
4.7
762.5
-1 .9
3.5
48.7
5.7
43.1
65.1
64.2
15.5
5.3
773.4
-1 .9
3.5
49.3
5.7
43.6
65.3
61.7
15.9
5.4
781.6
-1 .9
3.5
50.2
5.7
44.5
65.4
60.2
16.2
5.5
789.7
-1 .9
3.5
51.3
5.7
45.6
65.6
59.7
16.6
5.5
1,133.6
1,128.1
985.2
928.3
00
124 4
5.9
3.7
2.2
798.0
-2.1
3.5
55.5
8.4
47.1
68.5
57.6
16.9
5.5
1,143.4
1,137.9
994.3
936.3
00
124 4
5.9
3.7
2.2
806.0
-2 .1
3.5
56.5
8.4
48.2
68.5
58.0
17.0
5.6
1,153.3
1,147.7
1,003.7
945.0
00
124 4
5.9
37
2.2
814.8
-2 .1
3.5
57.3
8.4
48.9
68.6
58.3
17.1
5.6
740.6
-2 .3
3.4
45.8
0.0
45.8
60.0
64.9
13.7
5.0
766.7
-2 .5
3.5
51.6
4.3
47.4
63.9
62.9
15.2
5.8
123.0
4.2
3.7
0.6
800.4
-2 .7
3.5
59.0
7.7
51.3
67.5
58.8
16.4
6.1
Incom e receipts on assets
Interest receipts.....
Dividends.................
Rents and royalties
50.5
23.2
20.7
6.6
46.6
23.1
16.8
6.8
65.2
28.4
29.9
6.8
53.3
25.7
20.7
6.9
62.7
26.5
29.4
6.8
54.7
27.4
20.5
6.7
53.2
25.6
20.7
6.9
53.0
25.3
20.7
7.0
52.4
24.4
21.0
7.0
72.9
24.5
41.5
6.9
53.7
25.6
21.3
6.8
58.4
27.1
24.6
6.7
65.8
28.9
30.1
6.7
71.4
30.4
34.2
6.8
75.1
31.3
36.9
6.8
77.0
31.8
38.3
6.9
C urrent transfer receipts............................................................
From b u sin e ss.......
From p e rs o n s ..........................................................................
59.2
38.1
21.1
63.2
43.8
19.5
68.3
48.3
20.0
61.6
41.2
20.4
53.1
32.5
20.6
70.0
50.8
19.2
71.6
52.4
19.2
86.0
66.4
19.6
95.7
75.7
20.0
98.5
78.4
20.1
99.6
79.4
20.2
-3 7 .0
-1 1 .0
-2 5 .8
1.3
-1 .5
-24.1
-9 .1
-1 7 .8
1.1
1.6
-1 6 .7
-8 .2
-1 3 .2
1.1
3.6
-1 8 .0
-8 .6
-1 4 .4
1.1
3.9
-1 8 .8
-9 .8
-1 3 .7
1.0
3.8
53.2
32.9
20.3
-1 7 .4
-1 0 .2
-1 1 .3
0.8
3.3
69.0
49.5
19.5
-1 2 .0
-10.1
-4 .2
0.6
1.6
59.1
38.7
20.3
-1 7 .7
-9 .2
-1 3 .2
1.0
3.7
74.2
54.8
19.4
C urrent surplus of governm ent ente rprises..........................
Postal S e rv ic e .........................................................................
Federal Housing A dm in istration.........................................
Tennessee Valley Authority..................................................
O th e r..........................................................................................
92.8
72.9
19.9
-1 7 .7
-8 .8
- 7 .7
1.0
-2 .2
-2 2 .6
-9.1
-1 6 .9
1.0
2.3
-25.1
-8 .5
-1 9 .4
1.1
1.7
-2 6 .2
-9 .6
-1 9 .0
1.1
1.3
-2 2 .4
-9 .0
-1 5 .7
1.0
1.2
-1 7 .2
-1 0 .2
-9 .3
0.9
1.4
-1 3 .8
-1 0 .8
-5 .6
0.8
1.8
-1 0 .9
-9 .4
-4 .6
0.7
2.4
Current expenditures..
3,705.0
3,846.3
4,007.2
3,757.7
3,819.9
3,723.6
3,774.8
3,760.6
3,771.6
3,730.5
3,799.1
3,863.0
3,886.8
3,960.4
3,965.7
3,990.9
Consum ption expenditures......................
National defense....
Pay raises and locality p a y .............
January 2 0 1 3 ................................
January 2014
O th e r....................
N ond efense.............
Pay raises and locality p a y .............
January 2 0 1 3 ................................
January 2014 .
O th e r....................
1,073.0
708.7
0.0
0.0
0.0
708.7
364.3
0.0
0.0
0.0
364.3
1,077.5
689.3
1.4
1.4
0.0
687.9
388.2
0.0
0.0
0.0
388.2
1,075.7
673.1
4.7
1.9
2.8
668.4
402.6
1.3
0.0
1.3
401.4
1,059.7
703.6
0.0
0.0
0.0
703.6
356.1
0.0
0.0
0.0
356.1
1,054.1
686.6
1.9
1.9
0.0
684.6
367.6
0.0
0.0
0.0
367.6
1,055.6
703.5
0.0
0.0
0.0
703.5
352.1
0.0
0.0
0.0
352.1
1,054.8
701.1
0.0
0.0
0.0
701.1
353.7
0.0
0.0
0.0
353.7
1,086.3
728.1
0.0
0.0
0.0
728.1
358.2
0.0
0.0
0.0
358.2
1,041.9
681.8
0.0
0.0
0.0
681.8
360.2
0.0
0.0
0.0
360.2
1,032.7
672.7
1.9
1.9
0.0
670.8
360.0
0.0
0.0
0.0
360.0
1,052.8
687.4
1.9
1.9
0.0
685.5
365.4
0.0
0.0
0.0
365.4
1,069.6
697.9
1.9
1.9
0.0
696.0
371.7
0.0
0.0
0.0
371.7
1,061.3
688.2
1.9
1.9
0.0
686.3
373.1
0.0
0.0
0.0
373.1
1,059.5
679.9
4.7
1.9
2.8
675.2
379.6
1.6
0.0
1.6
378.0
1,053.5
672.6
4.7
1.9
2.8
667.9
380.9
1.7
0.0
1.7
379.2
1,058.1
676.8
4.7
1.9
2.8
672.1
381.3
1.7
0.0
1.7
379.6
Current transfer paym ents
G overnm ent social ben e fits.....................
To perso ns...............................................
Social S e c u rity ..................................
2,263.0
1,750.8
1,732.4
749.9
2,389.7
1,849.1
1,829.6
794.1
2,548.1
1,939.9
1,919.6
840.4
2,319.2
1,792.8
1,775.0
762.2
2,422.5
1,876.6
1,857.6
813.5
2,301.0
1,786.0
1,768.4
753.2
2,310.8
1,785.6
1,767.9
759.4
2,326.1
1,796.2
1,778.1
765.1
2,338.7
1,803.3
1,785.4
771.0
2,357.1
1,832.8
1,814.7
790.0
2,403.6
1,870.7
1,851.8
812.7
2,449.2
1,892.9
1,873.3
821.6
2,480.0
1,910.0
1,890.6
829.8
2,555.0
1,945.9
1,926.6
854.2
2,566.4
1,960.2
1,940.6
858.3
2,587.2
1,967.7
1,947.6
860.4
See the footnotes at the end of the table.
NIPA Translation of the Federal Budget
2 2
for deriving quarterly estimates of withheld income tax
payments and of “final settlements less refunds.”
Expenditures. The quarterly NIPA estimates of cur
rent expenditures reflect fiscal year changes in program
outlays and a cost-of-living increase for social security
May 2013
and other programs in the first quarter of 2013 and in
2014.
Net saving. NIPA estimates of net federal govern
ment saving reflect the differences between receipts
and expenditures. Net saving is projected to become
Table 10. NIPA Federal Government Current Receipts and Expenditures—Table Ends
[Billions of dollars; calendar year and quarters at seasonally adjusted annual rates]
C alendar year
Q uarter
Fiscal year estim ates1
Published
Estim ated
P u b lish e d 2 Estim ated
2012
2012
2013
2014
2012
2013
R egular.............................................................................
Benefit incre ases...........................................................
January 2013..............................................................
January 2014..............................................................
M edicare.......
U nem ploym ent b ene fits....................................................
Veterans benefits
Railroad retirem ent.............................................................
M ilitary m edical insurance................................................
Supplem ental Nutrition Assistance Program benefits
Black lung b e n e fits .............................................................
Supplem ental security in c o m e .......................................
Refundable tax cre d its.......................................................
All o th e r.................................................................................
To rest of the w o rld .................................................................
749.9
0.0
0.0
0.0
537.4
94.1
61.1
11.2
11.6
74.5
0.3
48.4
83.9
60.0
18.4
784.1
10.0
10.0
0.0
581.7
82.3
74.0
11.7
12.3
75.5
0.3
50.8
85.7
61.2
19.5
813.4
27.0
13.3
13.6
604.7
57.5
85.3
11.8
12.9
68.9
0.3
53.2
88.2
96.4
20.2
762.2
0.0
800.2
13.3
13.3
562.0
80.9
72.2
11.4
12.2
74.9
0.4
48.2
86.1
64.4
17.9
G rants-in-aid to state and local gove rnm ents.......................
General public se rv ic e ...........................................................
National defense......................................................................
Public order and sa fe ty..........................................................
Econom ic a ffa irs......................................................................
Transportation 4..................................................................
S p a c e ....................................................................................
O ther econom ic a ffa irs .....................................................
General econom ic and labor affairs..........................
A g ricu ltu re .......................................................................
E n e rg y..............................................................................
Natural resou rces..........................................................
H ousing and com m unity services.......................................
H e a lth .........................................................................................
M edicaid...............................................................................
Prescription drug plan claw back.....................................
O th e r......................................................................................
R ecreation and c u ltu re ..........................................................
E d u c a tio n .........
Incom e security
D isab ility.......
W elfare and social se rvic e s.............................................
U nem ploym ent
O th e r......................................................................................
461.6
2.8
3.9
6.7
16.5
0.1
0.1
16.3
5.5
0.9
5.1
4.8
20.1
274.6
250.0
- 8 .3
32.9
0.4
48.4
88.0
2.6
76.8
3.3
5.4
483.1
2.8
4.3
6.8
15.3
0.1
0.1
15.1
6.3
1.2
2.6
5.1
21.4
292.6
266.0
-8 .8
35.3
0.4
47.3
92.2
2.5
79.7
2.3
7.6
555.8
5.4
3.9
7.1
29.3
0.1
0.1
29.1
20.6
1.2
1.9
5.4
28.1
328.9
303.0
-9 .0
34.9
0.5
54.9
97.8
2.6
81.8
3.9
9.5
468.1
3.0
4.0
7.6
16.5
0.1
0.0
16.4
6.6
1.1
4.3
4.5
19.3
279.3
254.7
-8 .5
33.0
0.5
47.0
91.1
2.6
79.4
2.1
7.0
I
II
2013
III
IV
I
II
2014
III
IV
I
II
III
593.0
54.5
83.6
11.7
12.5
74.7
0.3
50.4
88.1
75.3
19.0
753.2
0.0
0.0
0.0
555.9
94.2
68.8
11.4
12.0
74.5
0.4
47.6
86.1
64.3
17.7
759.4
0.0
0.0
0.0
556.9
83.8
71.5
11.4
12.2
73.8
0.4
48.0
86.1
64.4
17.7
765.1
0.0
0.0
0.0
566.2
74.9
74.0
11.4
12.3
74.8
0.4
48.4
86.1
64.5
18.1
771.0
0.0
0.0
0.0
569.1
70.7
74.6
11.5
12.3
76.4
0.4
48.9
86.1
64.4
17.9
776.7
13.3
13.3
0.0
580.4
64.3
78.4
11.6
12.2
76.9
0.3
49.2
88.1
63.3
18.1
799.4
13.3
13.3
0.0
590.4
59.5
82.0
11.7
12.4
76.0
0.3
50.0
88.1
68.7
18.9
808.2
13.3
13.3
0.0
597.9
52.7
85.4
11.8
12.6
74.3
0.3
50.7
88.1
77.9
19.5
816.5
13.3
13.3
0.0
603.2
41.6
88.6
11.8
12.8
71.6
0.3
51.5
88.1
91.3
19.5
822.7
31.5
13.3
18.2
606.9
35.9
91.0
11.8
12.9
69.6
0.3
52.0
90.6
101.4
19.3
826.8
31.5
13.3
18.2
609.4
35.8
92.6
11.8
13.0
68.3
0.3
52.3
90.6
108.2
19.5
828.9
31.5
13.3
18.2
610.7
35.8
93.4
11.8
13.1
67.7
0.3
52.5
90.6
111.3
20.1
491.0
3.2
3.7
7.5
15.7
0.1
0.0
15.7
10.4
0.9
0.5
3.9
21.8
297.4
271.3
-9.1
35.2
0.4
42.7
98.8
2.5
83.4
1.8
11.1
455.3
2.9
4.0
6.4
17.4
0.1
0.0
17.3
6.7
0.8
5.5
4.3
21.1
266.6
242.4
-8 .2
32.4
0.4
46.5
90.0
2.6
78.5
2.3
6.6
466.9
3.5
3.9
7.2
18.3
0.1
0.0
18.2
6.2
1.6
4.9
5.5
19.7
282.2
257.9
- 8 .3
32.6
0.5
44.2
87.4
2.6
76.3
2.3
6.1
470.6
2.8
4.0
8.6
16.1
0.1
0.0
15.9
6.6
1.2
4.1
4.0
17.7
282.0
256.1
- 8 .7
34.5
0.5
48.4
90.6
2.7
79.6
2.3
6.0
479.4
2.8
3.9
8.1
14.2
0.1
0.0
14.0
6.7
0.9
2.5
4.0
18.8
286.2
262.4
-8 .6
32.4
0.5
48.7
96.2
2.5
83.1
1.4
9.2
464.8
2.3
3.7
7.3
11.0
0.1
0.0
10.9
5.4
0.8
1.0
3.7
19.3
284.9
258.8
-8 .9
35.0
0.4
39.8
96.1
2.5
82.1
1.4
10.1
479.4
2.7
3.8
7.4
13.0
0.1
0.0
12.9
7.7
0.9
0.6
3.8
20.6
292.2
265.9
-9 .0
35.4
0.4
41.3
98.1
2.5
83.2
1.5
10.9
498.8
3.3
3.7
7.5
16.7
0.1
0.0
16.7
11.5
0.9
0.3
3.9
22.4
301.5
275.3
-9.1
35.3
0.4
43.4
99.8
2.5
83.9
1.8
11.5
521.0
4.3
3.5
7.6
22.1
0.1
0.0
22.1
16.9
0.9
0.2
4.0
24.8
310.9
285.1
-9 .2
34.9
0.4
46.1
101.3
2.6
84.2
2.5
11.9
543.4
5.1
3.3
7.6
26.2
0.1
0.0
26.1
21.0
0.9
0.2
4.1
26.6
323.6
298.2
-9 .2
34.6
0.4
48.1
102.4
2.6
84.5
3.0
12.3
557.4
5.6
3.2
7.7
28.9
0.1
0.0
28.8
23.7
0.9
0.1
4.1
27.7
331.2
306.1
-9 .3
34.5
0.4
49.5
103.2
2.7
84.6
3.4
12.5
567.1
5.8
3.2
7.7
30.2
0.1
0.0
30.2
25.0
0.9
0.1
4.1
28.3
337.7
312.7
-9 .3
34.4
0.4
50.1
103.5
2.7
84.7
3.6
12.6
65.8
284.7
O ther current transfer paym ents paid to the rest of the
w o rld .......................................................................................
50.6
57.5
52.4
58.4
54.9
59.7
58.4
59.3
56.0
59.4
53.5
57.5
49.0
Federal interest p a id ....................................................................
308.5
307.4
311.6
281.4
306.7
348.7
288.1
330.6
280.3
S ubsidies........................................................................................
Agricultural.................................................................................
H o u s in g .....................................................................................
O th e r..........................................................................................
60.6
10.7
33.5
16.4
71.7
10.7
34.0
27.0
71.8
10.7
35.7
25.5
318.5
60.4
11.1
33.9
15.4
61.9
11.1
34.6
16.2
60.4
10.7
34.1
15.5
0.0
60.6
11.1
33.9
15.6
0.0
60.1
11.2
33.8
15.2
60.4
11.2
33.7
15.5
0.0
60.5
11.2
34.0
15.4
280.5
62.3
11.1
34.3
16.9
281.5
62.7
11.1
34.8
16.8
283.3
62.1
11.1
35.4
15.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-8 9 5 .9 -1 ,0 5 8 .7 -1,115.4 -1,087.2 -1,066.7
-839.8
-916.7
-948.1
-879.1
-794.4
-744.3
-708.3
Less: W age accruals less disbursem ents..............................
0.0
0.0
0.0
0.0
Net federal government saving.............. -1,050.5
-996.4
-803.7
-1,082.0
0.0
0.0
61.1
11.1
35.8
14.2
48.8
52.4
285.6
60.3
11.2
36.1
13.0
286.1
59.6
11.2
36.2
12.2
Addenda:
Gross in ve s tm e n t5......................................................................
National defense......................................................................
N ond efense ..............................................................................
154.5
106.2
48.3
146.6
102.0
44.6
128.5
87.3
41.2
154.6
105.5
49.1
139.1
91.7
47.4
152.1
102.9
49.2
155.9
106.7
49.2
155.1
106.4
48.6
155.4
106.1
49.3
145.7
97.1
48.6
139.5
91.5
48.1
138.8
91.5
47.3
132.3
86.6
45.6
123.2
78.8
44.4
122.3
77.9
44.4
121.4
77.4
44.0
Consum ption expenditures and gross investm ent..............
National defense......................................................................
N ond efense..............................................................................
1,227.5
814.9
412.6
1,224.1
791.3
432.8
1,204.2
760.4
443.8
1,214.3
809.2
405.1
1,193.2
778.2
415.0
1,207.7
806.4
401.3
1,210.7
807.8
402.9
1,241.4
834.5
406.8
1,197.3
787.9
409.4
1,178.4
769.7
408.6
1,192.3
778.8
413.5
1,208.4
789.4
419.0
1,193.6
774.8
418.8
1,182.8
758.7
424.1
1,175.8
750.5
425.3
1,179.5
754.2
425.3
Total re c e ip ts .........
2,668.4 2,862.7
Current receipts
2,654.6 2,850.0
13.8
12.8
Capital transfer receipts.........................................................
Total expenditures........................................................................
3,846.2 3,962.2
Current expenditures
3,705.0 3,846.3
Gross governm ent investm ent.............................................
154.5
146.6
Capital transfer paym ents.....................................................
126.9
115.1
Net purchases of nonproduced a sse ts..............................
0.1
0.1
Consum ption of fixed ca p ita l.....................................
140.4
145.9
Net lending or net borrowing ( - ) .............................................. -1 ,1 7 7 .8 -1 ,0 9 9 .4
3,216.4
3,203.5
12.9
4,101.0
4,007.2
128.5
111.5
0.1
146.3
-8 8 4 .6
2,696.1
2,675.7
20.4
3,889.1
3,757.7
154.6
117.7
0.7
141.5
-1,193.1
2,941.3 2,683.8 2,682.1 2,695.0 2,723.4
2,923.9 2,664.9 2,659.5 2,673.4 2,705.0
17.4
18.4
18.9
22.6
21.5
3,915.8 3,856.3 3,894.5 3,882.6 3,923.1
3,819.9 3,723.6 3,774.8 3,760.6 3,771.6
139.1
152.1
155.4
155.9
155.1
98.8
120.8
104.9
107.0
137.8
1.7
-0 .2
-0 .5
1.9
1.6
143.7
139.7
141.0
142.0
143.3
-9 7 4 .5 -1 ,1 7 2 .5 -1 ,2 1 2 .4 -1 ,1 8 7 .7 -1 ,1 9 9 .8
2,908.5
2,890.7
17.7
3,832.3
3,730.5
145.7
99.4
1.7
144.9
-9 2 3 .9
2,899.7 2,932.0
2,882.4 2,914.9
17.3
17.2
3,894.5 3,960.8
3,799.1
3,863.0
139.5
138.8
96.3
99.4
1.7
1.7
142.1
142.1
-9 9 4 .8 -1 ,0 2 8 .8
3,025.0
3,007.7
17.3
3,975.4
3,886.8
132.3
100.2
1.9
145.7
-9 5 0 .4
3,183.5
3,165.9
17.6
4,043.3
3,960.4
123.2
103.2
2.0
145.5
-8 5 9 .8
3,239.3
3,221.4
17.9
4,050.0
3,965.7
122.3
105.2
2.0
145.3
-8 1 0 .7
3,300.9
3,282.6
18.3
4,075.5
3,990.9
121.4
106.2
2.1
145.2
-7 7 4 .6
Less:
1. The fiscal year estimates are the sum of quarterly estimates that are not seasonally adjusted and that are consistent
with the budget proposals.
2. These estimates are published in the NIPA tables 3.2 and 3.9.5 in this issue.
3. The NIPA estimate of corporate profits tax accruals for the first quarter of 2013 will not be available until the release
of the second estimate of gross domestic product on May 30,2013. The value shown is derived from the budget.
4. Most transportation grants-in-aid to state and local governments are classified as capital transfers paid (see the
addenda), but water and railroad transportation grants are still classified as current-account transactions.
5. Gross investment consists of general government and government enterprise expenditures for fixed assets; inventory
investment is included in federal government consumption expenditures.
Sources:
and the Bureau of Economic Analysis.
N ote. The fiscal year and quarterly estimates of NIPA receipts and expenditures differ from the fiscal year and quarterly
estimates displayed in
because addi
tional data were incorporated after the budget was released.
FICA Federal Insurance Contributions Act
NIPAs National income and product accounts
SECA Self-Employment Contributions Act
BudgetoftheUnitedStatesGovernment, Fiscal Year2014
Analytical Perspectives: Budget of theUnitedStatesGovernment, Fiscal Year2014
May 2013
S u rv ey
of
C u rren t B usiness
$54.1 billion less negative in 2013 and $206.4 billion
less negative in 2014, reflecting a larger acceleration in
current receipts than in current expenditures.
T ran slatio n into a NIPA F ram ew o rk
BEA uses a detailed analytical process to translate fed
eral budget receipts and outlays into a NIPA frame
work.
Receipts
Fiscal year budget data for receipts are supplemented
by information on the effects of budget proposals
from the Department of the Treasury’s Office of Tax
Analysis and information included in the budget’s Ap
pendix. These data are translated into the following
major components of the NIPA federal government
current receipts: current tax receipts, contributions for
government social insurance, income receipts on as
sets, current transfer receipts, and current surplus of
government enterprises.
Quarterly projections are based on the economic as
sumptions from the federal budget. When monthly
and quarterly NIPA estimates are released by BEA,
these initial quarterly projections of receipts are reeval
uated and revised to incorporate newly available data
from the Department of the Treasury, including from
the Monthly Treasury Statement.
Outlays
Fiscal year budget outlays are organized by appropria
tion in the federal budget’s Appendix. These data and
supplemental data from the Office of Management and
Budget are used to allocate federal budget outlays to
the following NIPA categories: current transfer pay
23
ments, interest payments, subsidies, and consumption
expenditures and gross investment. The quarterly pro
jections 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. Supplemental data are
also used. A detailed reconciliation of defense con
sumption expenditures and gross investment with out
lays is prepared, using extensive financial, delivery, and
other information from the Department of Defense. In
order to prepare seasonally adjusted estimates of non
defense consumption expenditures and gross invest
ment, data from the budget are used to extrapolate
portions of nondefense expenditures (for durable
goods, “other nondurable goods,” services, and equip
ment) for which no quarterly source data are available.
These extrapolated estimates of expenditures incorpo
rate quarterly data for certain expenditures, such as
those for construction from the Census Bureau and for
compensation from the Office of Personnel Manage
ment and the Bureau of Labor Statistics.
Updated estimates
BEA’s initial quarterly projections of federal govern
ment receipts and expenditures that are presented in
this article will likely differ from later estimates. The
initial estimates are prepared from budget data, which
are based on various economic assumptions about the
budget year. These estimates are then updated during
the year as new laws are enacted, as actual spending oc
curs, as economic conditions change, and as more
source data become available.
24
NIPA Translation of the Federal Budget
M ay 2 0 1 3
NIPA E stim ates o f th e Federal S ecto r and th e Federal B u d g et E stim ates
unfunded liability of the Department of Defense MedicareThe Bureau of Economic Analysis (BEA) prepares estimates of
Eligible Retiree Health Care Fund and the Postal Service
the federal sector in the framework of the national income and
Retiree Health Benefits Fund, payments to retroactively
product accounts (NIPAs). Unlike the federal budget, which is a
reimburse veterans for the costs of some past medical treat
financial plan of the government, the NIPA federal sector esti
ments, the implied subsidy costs of financial stabilization
mates are designed to facilitate macroeconomic analyses of the
equity purchases, the payment of insurance benefits related
effects of federal government activity on economic activity.1
to catastrophes, and estate and gift taxes.
In translating budget estimates into the framework of the
NIPAs, three primary types of adjustments are made. These •Transactions involving nonproduced assets. In the NIPAs,
purchases and sales of nonproduced assets, such as land and
adjustments result in NIPA estimates of current receipts and
radio spectrum licenses, are reflected in “capital account
expenditures that differ from corresponding estimates of
transactions (net)” in the domestic capital account.
receipts and outlays in the budget.
The NIPA estimates also differ from the budget estimates
•Coverage adjustments are necessary because certain transac
tions that are included in the budget are excluded from the because of different definitions of the scope and coverage of the
federal government sector. Examples include the following:
NIPAs (and vice versa).
•Netting and grossing adjustments are necessary because •Retirement plans. NIPA federal government receipts exclude
government employee contributions to retirement plans,
certain transactions that are recorded as offsets to outlays in
which are included in budget receipts, because these contri
the budget are recorded as receipts in the NIPAs.
butions are included in NIPA personal income as part of the
•Timing adjustments are necessary because certain receipts
income of employees. Similarly, NIPA current expenditures
and outlays that are recorded on a cash basis in the budget
exclude federal employee retirement benefits, which are
are recorded on an accrual basis in the NIPAs.
included in budget outlays, because these benefits are paid
The arrangement of federal transactions in the federal sector
from assets that represent equity belonging to the personal
NIPA statistics differs from that in the budget estimates because
sector.
of different treatments of capital transactions. Unlike the fed
eral budget estimates, the NIPAs distinguish current transac •Other differences. The NIPA federal government sector also
excludes other transactions, such as contributions by tele
tions from capital transactions, which include expenditures to
communications providers into the Federal Communication
acquire, improve, or dispose of nonfinancial assets such as
Commission Universal Service Fund and outlays from this
property or equipment. In the NIPAs, current transactions for
Fund. In the NIPAs, this fund is treated as a nonprofit insti
production, income, and consumption are presented in sum
tution serving business, and these transactions are included
mary NIPA accounts one through five, while capital transac
in the NIPA business sector.
tions are presented in summary NIPA accounts six and seven.2
Because of this organization, the following types of transac
tions are not included in NIPA federal government current Receipts
receipts and current expenditures but are shown in account six For most years, the differences between NIPA current receipts
and as items in NIPA table 3.2:
and budget receipts primarily reflect capital transfers received,
•Government investment in fixed assets. In the NIPAs, gov supplementary medical insurance premiums, and personal and
ernment consumption expenditures exclude investment in business current transfer receipts. (Personal and business cur
fixed assets and include consumption of fixed capital, a rent transfer receipts are classified as receipts in the NIPAs, but
depreciation charge on fixed assets that are used in produc some are netted against outlays in the budget.)
tion.
•Transfers involving the acquisition or disposal of assets. In Expenditures
the NIPAs, these transactions are classified as capital transfer For most years, the differences between NIPA current expendi
receipts and payments and are presented in the domestic tures and budget outlays primarily reflect capital transfers paid,
capital account.3Capital transfers include certain investment federal employee retirement plan transactions, personal and
grants-in-aid to state and local governments, investment business current transfer receipts, and net investment.
subsidies to businesses, lump-sum payments to amortize the
In the NIPAs, budget outlays for national defense and nonde
fense are reflected in both consumption expenditures and gross
1. For a comparison, see tables 4 and 5 and NIPA table 3.18B. See also investment. For national defense, the budget outlays differ
“National Income and Product Accounts” in Analytical Perspectives: Budget of
from the NIPA estimates for several reasons:
the U.S. Government, 469-474.
2. Current transactions are presentedinthe “Domestic Income andProduct •The NIPA measure includes general government consump
Account,” “Private Enterprise Income Account,” “Personal Income and Outlay
tion of fixed capital.
Account,” “Government Receipts and Expenditures Account,” and “Foreign •The NIPAs include cash payments to amortize the unfunded
Transactions Current Account.” Capital transactions are presented in the
liability for military and civilian retirement benefits as
“Domestic Capital Account” and the “Foreign Transactions Capital Account.”
defense consumption expenditures; the budget records these
See “Summary National Income and Product Accounts,” Survey of Current
payments as intergovernmental transactions.
Business 91 (August 2011): 38-39. The federal government components of the
domestic capital account are often shown as addenda intables presenting fed •NIPA expenditures are recorded on a delivery (accrual) basis,
eral government current receipts andexpenditures.
and budget outlays are recorded on a cash basis; thus, in the
3. The flowof funds accounts of the Federal Reserve Board present detailed
NIPAs,
all work in progress except ships and structures are
information onthe acquisitionanddisposal offinancial assets andliabilities by
U.S. economic sectors, includingthe federal government.
included as part of change in private inventories.
BEA on the Web
U.S. Economy at a Glance
Latest statistics
Interactive tables and charts
FAQs
News releases and publications
Resources
www.bea.gov
M ay 2 0 1 3
26
A n n u a l In d u s try
A c c o u n ts
Advance Statistics on GDP by Industry for 2012
B y A a r o n A . E lr o d , B r ia n M . L in d b e r g , a n d E d w a r d T. M o r g a n
URABLE-GOODS manufacturing, finance and
insurance, and wholesale trade were the leading
contributors to U.S. economic growth in 2012, accord
ing to advance statistics on the breakout of real gross
domestic product (GDP) by industry from the Bureau
of Economic Analysis (BEA). Overall, 19 of the 22 ma
jor industry groups contributed to a 2.2 percent in
crease in real GDP (chart 1).
The advance statistics on GDP by industry were re
leased by BEA on April 25, 2013. These statistics pro
vide a first look at the distribution of growth in real
GDP and inflation by industry in 2012.
Highlights for 2012 include the following:
•Manufacturing real value added— a measure of an
industry’s contribution to GDP— rose 6.2 percent
in 2012 after increasing 2.5 percent in 2011. Durable-goods manufacturing, the largest contributor to
overall growth in the economy for the third consec
utive year, increased 9.1 percent in 2012 after
•The private services-producing sector grew 2.4 per
cent in 2012, matching its 2011 growth rate. Finance
and insurance increased 3.6 percent in 2012 after
decreasing for 2 consecutive years. Wholesale trade
increased 4.8 percent in 2012 after increasing 3.0
percent in 2011.
•The GDP price index decelerated in 2012, increasing
1.8 percent after increasing 2.1 percent in 2011
(chart 2). The leading contributors to the decelera
tion were decelerations in nondurable-goods man
ufacturing and mining that were partly offset by an
acceleration in value-added prices for the servicesproducing sector; this acceleration reflected acceler
ations in prices for finance and insurance and for
accommodation and food services.
These advance statistics were prepared for major in
dustry groups using a methodology that incorporates
Chart 1. Annual Growth in Real GDP_____________
Chart 2. Annual Growth in Value-Added Prices
D
Percent
U.S. Bureau of Economic Analysis
increasing 6.8 percent in 2011 and 13.3 percent in
2 0 1 0 .
Percent
U.S. Bureau of Economic Analysis
M ay 2 0 1 3
S urvey
of
C urren t B
summary source data from the March 2013 update of
the national income and product accounts (NIPAs).
(See “Methodology for the Advance Statistics.”)
The advance statistics provide reliable information
on the direction of change in growth for major indus
try groups and an indication of whether industries’
real growth was well-above, well-below, or about aver
age with respect to overall GDP growth.
The statistics presented in this article will be revised
in December 2013 as part of the comprehensive revi
sion of the annual industry accounts. This revision will
incorporate more detailed industry source data as well
as the results from the comprehensive revision of the
NIPAs.
u s in e s s
27
Data Availability
The advance statistics on value added by industry are
presented in current dollars, chained (2005) dollars,
chain-type quantity indexes, and chain-type price
indexes. Annual input-output accounts for 2012 will
be available in December 2013. The statistics for
2012 and the full set of annual industry accounts
are available interactively on BEA’s Web site. For more
information, visit www.bea.gov.
For a guide to the annual industry accounts, see
Measuring the Nation’s Economy: An Industry Perspec
tive: A Primer on BEA’s Industry Accounts at www.bea.
gov/industry/pdf/industry_primer.pdf.
Acknowledgments
Edward T. Morgan, Chief of the Inter-Industry Statistics
Branch of the Industry Applications Division (IAD),
supervised the preparation of the statistics. Carol E.
Moylan, Associate Director for the Industry Economic
Accounts, Erich H. Strassner, Chief of IAD, and David B.
Wasshausen, Chief of the Industry Sector Division (ISD),
provided overall guidance. Thomas F. Howells III, Chief
of the Input-Output Statistics Branch in IAD, managed
the economic information systems used to produce and
review the statistics.
The statistics for 2012 were prepared by Brian M. Lindberg. The following staff provided guidance and contrib
uted to the preparation of the industry statistics and
analysis: Paul V. Kern, Chief of the Information and Busi
ness Services Branch in ISD, Kevin J. Muck, Chief of the
Goods and Distributive Services Branch in ISD, and
Patricia A. Washington, Chief of the Personal Services
and Government Branch in ISD. Robert I. McCahill, Pro
gram Coordinator in ISD, Maxine V. Tiggle, and Pat A.
Wilkinson provided administrative and program assis
tance.
The following staff also contributed to the preparation
of the advance statistics:
Agriculture, mining, construction, and manufacturing:
Aaron A. Elrod, Donald D. Kim, Mariana Matias, and
Simon N. Randrianarivelo.
Distributive services: Ricky L. Stewart, Anna M. lacob-
son, Patrick H. Martin, and Justin H. Settles.
Information, professional, and management services:
Robert I. Corea, Olympia Belay, Benjamin J. Hobbs, Erin
M. Ludlow, and Mandy C. Roberts.
Transportation: William H. Nicolls IV.
Finance, insurance, real estate, rental and leasing: Mat
thew B. Schroeder, James M. Green, Lolita V. Jamison,
and Ricci L. Reber.
Government enterprises, arts, entertainment, accommo
dation and food services, and health services: Daniel W.
lackson and Alexander M. Eisenmann.
Education, general government, and other services:
Tameka R.L. Harris, Katharine E. Hamilton, and Darlene
C. Robinson-Smith.
Value added and research and development: Jennifer
Lee, Teresa L. Gilmore, William A. Jolliff, and Brian M.
Lindberg.
International trade and inventory: Matthew Russell,
Peter D. Kuhbach, Gregory R. Linder, and Sarah B.
Osborne.
Balancing, Reconciliation, and Operations: Amanda S.
Lyndaker, Ahmad Z. Yusuf, Gabriel W. Medeiros, Rajeshwari R. Bhosale, Matthew E. Calby, Douglas B. Leung,
and Jeffrey A. Young.
Travel and Tourism Satellite Accounts: Paul V. Kern, and
Steven L. Zemanek.
Annual Industry Accounts
28
M ay 2 0 1 3
Real Value Added
Table A. Percent Changes in Real Value Added by Industry Group
2009 2010 2011 2012
Gross domestic product..........................................
-3.1
Private industries...............................................................
-3.8
Agriculture, forestry, fishing, and hunting.....................
Mining.................................................................................
Utilities................................................................................
Construction......................................................................
Manufacturing....................................................................
Durable goods...............................................................
Nondurable goods........................................................
Wholesale trade...............................................................
Retail trade........................................................................
Transportation and warehousing...................................
Information........................................................................
13.0
25.2
-9.0
-12.9
-9.2
-16.3
-0.4
-13.4
-1.9
- 1 0 .2
-5.5
Finance, insurance, real estate, rental, and leasing....
1.2
Finance and insurance...............................................
Real estate and rental and leasing............................
Professional and business services..............................
Professional, scientific, and technical services........
Management of companies and enterprises...........
Administrative and waste management services....
Educational services, health care, and social
assistance......................................................................
Educational services....................................................
8.5
Health care and social assistance.............................
Arts, entertainment, recreation, accommodation, and
food services.................................................................
Arts, entertainment, and recreation..........................
Accommodation and food services...........................
Other services, except government...............................
Government.........................................................................
Federal..............................................................................
State and local..................................................................
Addenda:
Private goods-producing industries1............................
Private services-producing industries 2........................
Information-communications-technology-producing
industries3....................................................................
2.4
2.7
-2 .8
0 .0
2 .6
6.9
13.3
0.4
3.4
7.0
6 .6
3.2
0.4
-2 .2
0 .2
-9.0
2 .0
3.2
- 1 .8
1 .8
1.7
-6 .2
6.4
-3.3
-7.1
-4.3
0.9
3.0
6 .2
6.5
0.7
0 .6
3.7
-0.3
2.9
-0.4
-5.7
-3.3
2.9
2.7
-0.9
11.4
Durable-goods manufacturing exhibited the strongest
growth of any of the 22 industry groups, increasing 9.1
percent in 2012.
0 .2
4.8
5.9
0.3
Nondurable-goods manufacturing turned up, increas
ing 3.0 percent after decreasing 2.1 percent in 2011.
-0 .6
1.7
2 .6
Manufacturing rose 6.2 percent in 2012 after increas
ing 2.5 percent in 2011.
6 .8
1.3
2 .2
Construction rose 3.2 percent after 8 consecutive years
of contraction.
- 2 .1
-4.8
5.5
2 .0
-5.8
2010.
-0.3
2.5
0.9
4.8
5.4
-0.5
6.9
-2 .8
-6 .0
2 .0
-13.6
10.1
-1 .2
Agriculture, forestry, fishing, and hunting declined for
the third consecutive year, falling 3.7 percent in 2012
after declining 13.6 percent in 2011 and 2.8 percent in
1 .8
-9.2
Wholesale trade increased 4.8 percent in 2012 after in
creasing 3.0 percent in 2011.
Information services increased 5.8 percent in 2012, its
third consecutive year of growth.
1 .2
Finance, insurance, real estate, rental, and leasing rose
2.1 percent, its strongest growth since 2006.
1 .8
5.4
5.5
5.3
1.3
Health care and social assistance rose 0.4 percent, its
slowest growth since 1994.
Arts, entertainment, recreation, accommodation, and
food services continued its deceleration since 2010, in
creasing 3.5 percent in 2012 after increasing 5.4 per
cent in 2011 and 6.4 percent in 2010.
-0.7
-0.3
-1 .0
0 .6
2.4
4.3
6.5
1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
2. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance,
insurance, real estate, rental, and leasing; professional and business services; educational services, health care,
and social assistance; arts, entertainment, recreation, accommodation, and food services; and other services,
except government.
3. Consists of computer and electronic products; publishing industries (includes software); information and
data processing services; and computer systems design and related services.
Real GDP increased 2.2 percent in 2012, reflecting in
creases in 19 of the 22 major industry groups.
The private goods-producing industries growth accel
erated, increasing 4.7 percent in 2012 after increasing
0.6 percent in 2011.
The private services-producing industries grew 2.4
percent in 2012, matching its increase in 2011.
M ay 2 0 1 3
S u rvey
of
C
urren t
B
u s in e s s
29
Real Value Added
Table B. Contributions to Percent Change in
Real GDP by Industry Group
The leading contributors to the 2.2 percent growth in
real GDP in 2012 were durable-goods manufacturing,
finance and insurance, and wholesale trade.
[Percentage points]
2009
Gross domestic product1....................................
Private industries.........................................................
-3.1
-3.35
Agriculture, forestry, fishing, and hunting......................
Mining................................................................................
Utilities...............................................................................
Construction......................................................................
Manufacturing...................................................................
0.13
0.44
-0.17
-0.55
-1.07
Durable goods...............................................................
-1 .0 5
2010
2.4
2011
2012
1.8
2.2
2.48
-0.04
0.07
0.02
0.11
0.71
2.35
1.76
-0.03
-0.16
0.19
-0.04
0.75
0.73
-0.17
0.00
0.05
-0.01
0.28
0.40
0.55
Nondurable goods........................................................
-0.02
0.02
-0.11
Wholesale trade................................................................
-0.79
0.16
0.27
Retail trade.......................................................................
Transportation and warehousing....................................
-0.12
0.19
0.42
0.23
0.04
0.25
0.43
0.28
Information.........................................................................
Finance, insurance, real estate, rental, and leasing....
Finance and insurance................................................
Real estate and rental and leasing............................
Professional and business services...............................
Professional, scientific, and technical services........
Management of companies and enterprises............
Administrative and waste management services....
Educational services, health care, and social
assistance.....................................................................
Educational services....................................................
Health care and social assistance..............................
Arts, entertainment, recreation, accommodation, and
food services.................................................................
Arts, entertainment, and recreation............................
Accommodation and food services............................
Other services, except government...............................
-0.30
0.19
0.01
0.14
-0.25
0.24
0.13
0.09
0.25
0.07
0.16
0.60
-0 .1 8
-0.36
-0.73
-0.46
0.00
-0.27
0.26
0.26
0.20
-0.09
0.16
-0.05
0.12
0.59
0.40
-0.01
0.20
0.17
0.03
0.13
0.11
-0.02
0.13
0.15
0.01
0.13
0.04
0.00
0.03
-0.24
-0.03
-0.21
-0.10
0.24
0.06
0.18
0.02
0.20
0.05
0.15
0.03
0.14
0.03
0.11
0.00
Government..................................................................
0.12
0.09
-0.10
-0.04
Federal...............................................................................
State and local..................................................................
0.15
-0.03
0.13
-0.04
-0.01
-0.09
-0.02
-0.02
-1.06
-2.29
0.51
1.83
0.11
1.65
0.85
1.63
-0.04
0.47
0.18
0.28
0.15
0.23
0.09
0.07
0.07
Addenda:
Private goods-producing industries 2.............................
Private services-producing industries 3........................
Information-communications-technology-producing
industries4....................................................................
1. The estim ates of gross dom estic product under the contributions colum ns are percent changes.
2. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
3. C onsists of utilities; w holesale trade; retail trade; transportation and w arehousing; inform ation; finance,
insurance, real estate, rental, and leasing; professional and business services; educational services, health care,
and social assistance; arts, entertainm ent, recreation, accom m odation, and food services; and other services,
except governm ent.
4. C onsists of com puter and electronic products; publishing industries (includes software); inform ation and
data processing services; and com puter system s design and related services.
N ote . Percentage-point contributions do not sum to the percent change in real gross dom estic product because
the contribution of the “Not allocated by industry^ line is excluded.
Durable-goods manufacturing accounted for 25 per
cent of the growth in real GDP in 2012, contributing
0.55 percentage point to the 2.2 percent increase in
real GDP. This is the third consecutive year that it led
GDP growth.
Nondurable-goods manufacturing contributed 0.16
percentage point to the increase in real GDP in 2012,
the sector’s strongest contribution since 2007. The up
turn in growth was a leading contributor to the accel
eration in real GDP growth.
Wholesale trade accounted for 12 percent of real GDP
growth in 2012, contributing 0.27 percentage point to
real GDP growth. The strong growth in wholesale
trade is consistent with the strong growth in manufac
turing.
Information contributed 0.25 percentage point to the
growth in real GDP in 2012, matching its contribution
in 2011.
Finance and insurance accounted for 13 percent of the
increase in real GDP in 2012, contributing 0.28 per
centage point to real GDP growth. This industry was
the largest contributor to the acceleration in real GDP
growth.
Annual Industry Accounts
30
M ay 2 0 1 3
Value-Added Prices
Table C. Percent Changes in Chain-Type Price Indexes
for Value Added by Industry Group
2009
2010
2011
2012
Gross domestic product.......................................
Private industries..........................................................
0.9
0.8
1.3
1.2
2.1
2.3
1.8
1.5
Agriculture, forestry, fishing, and hunting......................
-20.9
13.9
27.4
0.9-
Mining..................................................................................
-4 4 .5
12.9
1.5
4.1
25.0
-2.4
-2.5
-1.0
15.1
Utilities.................................................................................
Construction.......................................................................
Manufacturing.....................................................................
Durable goods................................................................
Nondurable goods..........................................................
Wholesale trade................................................................
4.0
4.4
7.3
1.7
6.4
-2.8
1.0
0.9
-3.3
2.1
1.5
3.6
-1.7
9.8
2.7
-5.1
1.2
2.3
1-5
0.7
2.5
1.4
3.2
1.1
1.0
3.4
-0.3
0.9
1.0
1.5
-1.1
2.3
1.0
11.2
0.4
0.8
0.9
1.6
0.8
8.5
-0.7
3.5,
0.3
1.8
2.3
0.6
1.1
1.6
3.5
1.3
2.2
3.0
3.7
2.3
3.9
2.0
4.3
2.1
5.0
5.0
-0.2
0.5
-0.5
2.6
0.5
0.6
0.5
2.6
Government....................................................................
2.4
2.0
2.1
2.0
Federal................................................................................
State and local...................................................................
1.8
2.8
2.6
1.6
1.9
2.2
2.1
1.9
-4.6
2.3
1.8
1.0
5.6
1.5
0.9
1.7
-0.8
-3.2
-2.2
-0.4
Retail trade.........................................................................
Transportation and warehousing.....................................
Information.........................................................................
Finance, insurance, real estate, rental, and leasing....
Finance and insurance.................................................
Real estate and rental and leasing.............................
Professional and business services...............................
Professional, scientific, and technical services.........
Management of companies and enterprises............
Administrative and waste management services.....
Educational services, health care, and social
assistance.......................................................................
Educational services.....................................................
Health care and social assistance..............................
Arts, entertainment, recreation, accommodation, and
food services..................................................................
Arts, entertainment, and recreation............................
Accommodation and food services.............................
Other services, except government................................
0.5
-0.3
-3.2
1.4
0.8
1.2
-5.9
4.5
4.1
7.1
-0.1
-1.9
2.3
8.2
2.0
2.1
0.3
2.7
1.7
Addenda:
Private goods-producing industries 1.............................
Private services-producing industries 2 ........................
Information-communications-technology-producing
industries 3.....................................................................
1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
2. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance,
insurance, real estate, rental, and leasing; professional and business services; educational services, health care,
and social assistance; arts, entertainment, recreation, accommodation, and food services; and other services,
except government.
3. Consists of computer and electronic products; publishing industries (includes software); information and
data processing services; and computer systems design and related services.
Growth in the GDP price index decelerated in 2012,
reflecting a deceleration in value-added prices for
nondurable-goods manufacturing and a downturn in
value-added prices for mining.
Value-added prices for agriculture, forestry, fishing,
and hunting decelerated, rising 0.9 percent in 2012 af
ter rising 27.4 percent in 2011.
Value-added prices for mining decreased 5.1 percent
after increasing 15.1 percent in 2011.
Value-added prices for manufacturing decelerated, in
creasing 1.5 percent in 2012 after increasing 3.6 per
cent in 2011.
Value-added prices for nondurable-goods manufac
turing increased 2.5 percent in 2012 after increasing
9.8 percent in 2011.
Value-added prices for retail trade slowed, increasing
1.0 percent in 2012 after increasing 3.2 percent in
2011.
Value-added prices for information turned up, in
creasing 1.0 percent in 2012, the fastest growth since
1997, after decreasing 0.3 percent in 2011.
Value-added prices for finance and insurance acceler
ated, increasing 3.5 percent in 2012 after increasing 0.8
percent in 2011.
Value-added prices for educational services slowed,
increasing 3.0 percent in 2012, the slowest growth
since 1995, after increasing 3.5 percent in 2011.
Value-added prices for private services-producing in
dustries picked up, reflecting the acceleration in fi
nance and insurance prices.
May 2013
S urvey
of
C u r r e n t B u s in e s s
31
Value-Added Prices
Table D. Contributions to Growth in the Chain-Type Price Index
for Gross Domestic Product by Industry Group
[Percentage points]
2009
G ro ss d o m e s tic p r o d u c t1 ..........................................
P rivate in d u s trie s ...................................................................
Agriculture, forestry, fishing, and hu nting.......................
M in in g ......................................................................................
U tilities.....................................................................................
C onstruction...........................................................................
M anufacturing........................................................................
Durable go o d s...................................................................
Nondurable go ods............................................................
W holesale trad e....................................................................
Retail tra d e ............................................................................
Transportation and w arehousing......................................
Inform ation.............................................................................
Finance, insurance, real estate, rental, and le a s in g ....
Finance and insurance....................................................
Real estate and rental and leasing..............................
Professional and business services.................................
Professional, scientific, and technical s e rvice s........
M anagem ent of companies and enterprises.............
Adm inistrative and waste management se rvice s....
Educational services, health care, and social
assistance.........................................................................
Educational se rvice s......................................................
Health care and social assistance...............................
Arts, entertainment, recreation, accommodation, and
food se rvice s....................................................................
Arts, entertainment, and recreation............................
Accom m odation and food se rvice s ............................
O ther services, except governm ent................................
G o v e rn m e n t.............................................................................
Federal...................................................................................
State and lo ca l.....................................................................
0.9
0.72
2010
1.3
1.03
-0.25 0.14
-1.14 0.38
0.23 -0.05
0.06 -0.09
0.46 - 0 .1 1
0.24 -0.16
0.23 0.05
0.40 0.05
0 .1 0
0.18
0 .0 2
-0.07
-0.25
0.18
0 .1 0
0.09
- 0 .1 1
0.13
0.34
0.08
0.26
0.16
0 .0 2
0.14
- 0 .2 1
0 .0 0
-0.08
0.48
0.63
-0.15
0.28
0.07
0.19
0.01
0 .2 0
0.04
0.15
2011
2.1
2 .0 0
0.28
0.26
0.04
0.05
0.41
0.51
0.15
0.19
0.03
0.18
0.06
Finance and insurance contributed 0.27 percentage
point in 2012 after contributing 0.06 percentage point
in 2011.
0 .1 2
0.19
0.06
0.15
Professional, scientific, and technical services contrib
uted 0.18 percentage point to GDP price growth in
2012 after contributing 0.06 percentage point in 2011.
-0 .0 2
0.14
0.04
0 .1 0
0 .0 2
0.01
0.01
- 0 .0 1
0.0 1
0.06
0.06
0.32
0.27
0.29
0.15
Nondurable-goods manufacturing contributed 0.13
percentage point to the growth in GDP prices in 2012
after contributing 0.51 percentage point, the largest
contribution to growth in 2011.
-0 .0 1
- 0 .0 1
0 .1 2
Private services-producing industries contributed over
60 percent, or 1.13 percentage point, to GDP price
growth in 2012.
Value-added prices for information-communicationstechnology-producing industries have subtracted
from GDP price growth for 21 consecutive years.
0.09
0 .2 0
A dd end a:
Private services-producing in d u strie s3.........................
-0.87
1.58
Information-communications-technology-producing
industries 4........................................................................
-0.04
Private goods-producing industries 2.............................
0.31
0.72
-0.14
0.99
1 .0 0
-0 .1 0
-0 .0 2
1. The estim ates of gross dom estic product under the contributions colum ns are percent changes.
2. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
3. Consists of utilities; w holesale trade; retail trade; transportation and w arehousing; inform ation; finance,
insurance, real estate, rental, and leasing; professional and business services; educational services, health care,
and social assistance; arts, entertainm ent, recreation, accom m odation, and food services; and other services,
except governm ent.
4. Consists of com puter and electronic products; publishing industries (includes software); inform ation and
data processing services; and com puter system s design and related services.
N ote . Percentage-point contributions do not sum to the percent change in the chain-type price index for gross
dom estic product because the contribution of the “Not allocated by industry” line is excluded.
The largest contributors to the 1.8 percent increase in
the GDP price index in 2012 were finance and insur
ance and professional, scientific, and technical ser
vices.
Mining was the only industry group to subtract from
GDP price growth, subtracting 0.10 percentage point
in 2012 after contributing 0.26 percentage point in
2011.
-0 .1 0
0 .1 2
0.08
0.25
2012
Annual Industry Accounts
32
M ay 2 0 1 3
Current-Dollar Value Added
Table E. Value Added by Industry Group
as a Percentage of Current-Dollar GDP
2009
2010
2011
2012
Gross domestic product.......................................
Private industries..........................................................
100.0
100.0
86.4
100.0
86.3
86.8
100.0
87.1
Agriculture, forestry, fishing, and h u n tin g ........................
M ining........................................................................................
U tilities......................................................................................
C onstruction............................................................................
1.0
1.6
1.9
3.9
1.1
1.7
2.0
3.6
1.2
1.9
2.0
3.5
1.1
1.8
1.9
3.6
M anufacturing.........................................................................
11.0
11.2
11.5
1 1 .9 /
Durable goods.....................................................................
Nondurable goods.............................................................
5.6
5.4
6.0
5.3
6.0
5.4
6.4
5.5
W holesale tra d e .....................................................................
5.5
5.5
5.6
5.7
Retail tra d e ..............................................................................
6.1
6.0
6.0
6.1
Transportation and w arehousing.......................................
Inform ation..............................................................................
Finance, insurance, real estate, rental, and leasing.....
2.8
4.3
21.1
2.9
4.2
20.8
3.0
4.3
20.3
3.0
4.4
20.2
Finance and in su ra n ce ....................................................
7.8
8.0
7.7
7.9
Real estate and rental and le a s in g ...............................
13.2
12.9
12.6
12 .3 -
Professional and business se rvice s .................................
Professional, scientific, and technical se rvice s.........
M anagem ent of companies and e n te rp ris e s.............
Adm inistrative and waste managem ent services......
Educational services, health care, and social
assistance............................................................................
Educational services.........................................................
Health care and social assistance ................................
Arts, entertainment, recreation, accommodation, and
food services.......................................................................
Arts, entertainment, and recreation..............................
Accom m odation and food se rvice s...............................
Other services, except governm ent..................................
12.1
7.5
1.8
2.9
12.2
7.5
1.8
2.9
12.5
7.6
1.9
3.0
12.4
7.6
1.9
3.0
8.8
1.2
7.6
8.8
1.1
7.6
8.7
1.2
7.5
8.6
1.1
7.4
3.8
0.9
2.8
2.5
3.8
1.0
2.9
2.5
3.9
1.0
2.9
2.5
4.0
1.0
3.0
2.4
Government....................................................................
13.7
13.6
13.2
12.9
F ed era l.....................................................................................
State and local........................................................................
4.4
9.3
4.5
9.1
4.4
8.9
4.3
8.7
Addenda:
Private goods-producing industries 1...............................
17.5
17.7
18.1
18.4
Private services-producing industries 2 ..........................
68.8
68.8
68.7
68.7
Information-communications-technology-producing
industries 3 .........................................................................
4.2
4.4
4.3
4.4
1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
2. C onsists of utilities; wholesale trade; retail trade; transportation and w arehousing; inform ation; finance,
insurance, real estate, rental, and leasing; professional and business services; educational services, health care,
and social assistance; arts, entertainm ent, recreation, accom m odation, and food services; and other services,
except government.
3. Consists of com puter and electronic products; publishing industries (includes software); inform ation and
data processing services; and com puter system s design and related services.
Private industries’ share of current-dollar GDP in
creased to 87.1 percent in 2012, its highest share since
2007.
Manufacturing’s share of current-dollar GDP in
creased for the third consecutive year, to 11.9 percent
in 2012, primarily reflecting an increase in the share of
durable-goods manufacturing.
Wholesale and retail trade’s combined share of current-dollar GDP increased to 11.8 percent in 2012,
from 11.6 percent in 2011.
Finance and insurance’s share of current-dollar GDP
increased to 7.9 percent in 2012, after declining to 7.7
percent in 2011.
Real estate and rental and leasing’s share of currentdollar GDP fell for the third consecutive year in 2012
to 12.3 percent, its lowest share since 1999.
Government’s share of current-dollar GDP fell below
13 percent for the first time since 2007, reflecting de
creases in the shares of both federal and state and local
government industry groups.
Private goods-producing industries’ share of currentdollar GDP increased for the third consecutive year, to
18.4 percent in 2012.
The information-communications-technology-producing industries’ share of current-dollar GDP
matched its 2010 peak level of 4.4 percent.
May 2013
S u rvey
of
C u r r e n t B u s in e s s
33
Methodology for the Advance Statistics
The advance statistics for 2012 were prepared for broad
industry groups using a methodology that was developed
to incorporate summary source data. The advance statis
tics are published at approximately the two-digit sector
level of the 2002 North American Industry Classification
System (NAICS). The preparation of the statistics uses a
methodology that draws heavily on data from the na
tional income and product accounts (NIPAs) for both
current-dollar and real value added by industry statistics.
This methodology and level of industry detail differ from
the methodology and level of detail found in the annual
industry accounts.1
Current-dollar statistics
The advance statistics on current-dollar value added by
industry for 2012 are prepared by extrapolating the ma
jor components of value added by industry— compensa
tion of employees, taxes on production and imports, less
1.
T h e a n n u a l i n d u s try a c c o u n ts f o r
1998-2011 a re p u b lis h e d
a t th e N A IC S
th r e e -d ig it in d u s try level u s in g a m o r e c o m p r e h e n s iv e m e th o d o lo g y . F o r m o r e
in f o r m a tio n , see P a tr ic ia A . W a s h in g to n , Je ff M . B e llo n e , A n n a M . J a c o b
so n ,
a n d Je n n ife r L e e ,
“A n n u a l I n d u s tr y A c c o u n ts : R e v ise d S ta tis tic s fo r
2009-2011,”Survey of C urrent B usiness 92 ( D e c e m b e r , 2012): 14.
subsidies, and gross operating surplus— using published
and unpublished industry source data from the NIPAs,
other government agencies, and private institutions. Sta
tistics for farms and general government are obtained di
rectly from the NIPAs.
Real statistics
The advance statistics on chain-type price and quantity
indexes and the advance statistics on chained-dollar
value added by industry are prepared using the single
deflation method. An industry’s current-dollar valueadded statistics are deflated using the industry’s gross
output price index.2 A Fisher aggregation of the detailed
industries yields the chain-type price and quantity in
dexes for industry groups. The gross output price in
dexes for detailed industries are implicit price deflators
that are computed as current-dollar gross output divided
by chained-dollar gross output.
2. Single deflation approximates the results obtained by double deflation
when the prices of an industry’s intermediate inputs increase at about the
same rate as its output prices. For more information, see Robert E. Yuskavage,
“Gross Domestic Product byIndustry: AProgress Report onAcceleratedEsti
mates,”Survey 82 (June 2002): 21.
Tables 1 through 9 follow.
34
Annual Industry Accounts
May 2013
Table 1. Percent Changes in Chain-Type Quantity Indexes for Value Added by Industry, 2009-2012
Line
2009
1
2010
2011
Gross domestic product...............................................................
2 Private industries........................................................................................
3
Agriculture, forestry, fishing, and hunting...................................
-3.1
-3.8
13.0
2.4
2.7
-2.8
1.8
2.0
-13.6
4
5
15.5
3.7
-5 .0
5.9
-1 7 .7
3.8
7
fi
9
10
11
12
13
14
15
16
17
1ft
19
20
21
22
23
24
25
26
27
28
2y
30
31
32
33
34
3b
36
3/
38
39
40
41
42
43
44
45
46
4/
48
49
F a rm s........................................................................................................
Forestry, fishing, and related a c tiv itie s.............................................
2012
2.2
2.9
-3.7
Mining....................................................................................................
25.2
-9.2
0.0
Oil and gas extraction............................................................................
Mining, except oil and g a s ....................................................................
S upport activities for m in in g ................................................................
50.3
-0 .8
-1 5 .9
-2 0 .0
-1 .0
28.3
-4 .1
-0 .7
15.8
Utilities..................................................................................................
Construction........................................................................................
Manufacturing.....................................................................................
-9.0
-12.9
-9.2
10.1
-1.2
6.9
2.6
-0.3
2.5
0.9
3.2
6.2
Durable g o o d s.........................................................................................
W ood p ro d u cts...................................................................................
N onm etallic mineral prod ucts.........................................................
P rim ary m e ta ls...................................................................................
Fabricated metal prod ucts...............................................................
M a c h in e ry ...........................................................................................
C om puter and electronic p ro d u cts...............................................
Electrical equipm ent, appliances, and com p onents.................
M otor vehicles, bodies and trailers, and p a rts...........................
O ther transportation e q u ip m e n t....................................................
Furniture and related products
M iscellaneous m anufacturing
13.3
7.6
2.6
- 7 .7
9.4
14.0
17.7
-0 .6
174.7
-1 .5
4.4
0.1
0.4
5.2
5.4
0.3
-1 3 .4
0.4
-3 .1
0.2
3.4
6.8
12.3
6.0
1.0
6.0
13.3
1.1
12.5
30.7
6.6
6.0
-3 .3
-2.1
-1 .4
-1 0 .4
-1 .7
- 0 .6
6.2
-7 .7
-0 .5
-0 .1
9.1
Food and beverage and tobacco pro d u cts .................................
Textile m ills and textile product m ills.............................................
Apparel and leather and allied prod ucts......................................
Paper p rod ucts................
Printing and related supp ort activ ities..........................................
Petroleum and coal prod ucts..........................................................
Chem ical p ro d u c ts ............................................................................
Plastics and rubber products..........................................................
-1 6 .3
-1 6 .7
-2 1 .6
3.3
-2 4 .7
-2 3 .3
3.0
-2 0 .7
-7 2 .7
-7 .7
-2 6 .0
0.6
-0 4
5.6
-2 2 .5
-1 2 .4
5.2
-1 6 .2
-12.1
5.1
1.3
Wholesale trade..................................................................................
Retail trade...........................................................................................
Transportation and warehousing....................................................
-13.4
-1.9
-10.2
3.4
7.0
6.6
3.0
0.2
4.8
A ir transportation....................................................................................
Rail transportation..................................................................................
W ater transportation..............................................................................
Truck transportation...............................................................................
Transit and ground passenger transportation .................................
Pipeline tra n s p o rta tio n ..........................................................................
O ther transportation and support a c tiv itie s.....................................
W arehousing and s to ra g e ....................................................................
-6 .8
-1 3 .7
4.2
-1 3 .5
-2 .6
-2 5 .6
-1 3 .3
2.3
8.4
1.3
-5 .8
8.6
-1 .6
19.1
8.5
4.3
0.8
5.2
26.0
4.2
- 2 .4
19.7
3.3
8.3
information...........................................................................................
-5.5
3.2
5.9
Publishing industries (includes s o ftw a re )........................................
Motion picture and sound recording in d u s trie s ..............................
Broadcasting and telec om m unica tions............................................
Inform ation and data processing services.......................................
-1 1 .0
-4 .2
-4 .4
-1 .4
10.3
3.0
0.2
4.3
3.6
1.7
8.0
4.1
3.7
3.0
2009
2012
1.2
0.4
0.3
2.1
51
52
Finance and insurance..................................................................
8.5
-2.2
-0.6
3.6
53
64
55
Federal Reserve banks, credit interm ediation, and related
activities............................................................................................
Securities, com m odity contracts, and investm ents...................
Insurance carriers and related activ itie s......................................
Funds, trusts, and other financial vehicles..................................
6.9
39.9
8.1
-5 3 .5
-4.1
6.0
-3 .6
3.9
-1 .0
-6.1
0.8
18.6
56
57
58
-2.8
2.0
0.9
Real e s ta te ..........................................................................................
Rental and leasing services and lessors of intangible assets
-2 .2
-7 .8
2.2
0.3
0.6
4.0
59
Professional and business services..............................................
4.8
Professional, scientific, and technical services.....................
-5.8
-6.0
2.2
60
61
62
63
2.6
5.4
Legal s e rv ic e s ....................................................................................
Com puter system s design and related servic es........................
M iscellaneous professional, scientific, and technical services
-1 3 .7
3.4
-5 .8
-2 .2
7.8
2.8
-1 .7
9.0
6.5
64
Management of companies and enterprises............................
0.2
6b
6b
b/
Administrative and waste management services...................
-9.0
-4.8
5.5
-0.5
6.9
Adm inistrative and support servic es.............................................
W aste m anagem ent and rem ediation s e rv ic e s .........................
-9 .7
-2 .5
5.2
7.8
7.5
1.4
68
/U
Educational services, health care, and social assistance........
Educational services.....................................................................
Health care and social assistance.............................................
2.0
3.2
1.8
1.3
-1.8
1.7
1.7
1.2
1.8
72
/3
Am bulatory health care s e rv ic e s ...................................................
Hospitals and nursing and residential care facilitie s.................
Social assistance................................................................................
1.3
2.5
1.9
4.3
-1 .3
2.6
2.0
2.1
-1 .0
Arts, entertainment, recreation, accommodation, and food
services............................................................................................
Arts, entertainment, and recreation...........................................
-6.2
-3.3
6.4
6.2
5.4
5.5
Performing arts, spectator sports, museums, and related
a ctivities............................................................................................
Am usem ents, gambling, and recreation indu stries...................
-1 .7
-5 .4
3.9
9.2
5.0
6.3
n
75
76
77
78
79
80
Accommodation and food services...........................................
-7.1
6.5
5.3
A ccom m odation..................................................................................
Food services and drinking p la c e s ...............................................
-1 3 .5
- 4 .6
10.5
5.2
9.1
4.0
81
Other services, except government...............................................
0.7
0.6
2.9
1.3
-0.7
-0.3
0.8
-1 0 .9
83
84
85
Federal...................................................................................................
-4.3
0.9
3.7
General gove rnm ent..............................................................................
Governm ent en te rp rise s.......................................................................
5.9
-1 3 .9
3.7
-4 .6
86
87
88
State and local....................................................................................
-0.3
-0.4
-1.0
General gove rnm ent..............................................................................
Governm ent ente rprises.......................................................................
0.3
-8 .7
-0 .7
2.9
-1 .2
1.3
-5 .7
-3 .3
-0 .9
2.9
2.7
11.4
0.6
2.4
4.3
82 Government...................................................................................................
5.8
2011
Finance, insurance, real estate, rental, and leasing...................
74
4.8
3.8
1.3
2010
50
69
1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
2. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance,
real estate, rental, and leasing; professional and business services; educational services, health care, and social assis-
Line
1.2
1.8
1.2
3.6
2.4
0.4
0.2
0.4
3.5
3.3
3.6
0.1
-0.3
-0.5
-0.2
Addenda:
89
90
91
Private goods-producing industries 1......................................................
Private services-producing industries 2.................................................
Inform ation-com m unications-technology-producing industries 3....
4.7
2.4
6.5
tance; arts, entertainment, recreation, accommodation, and food services; and other services, except government.
3. Consists of computer and electronic products; publishing industries (includes software); information and data
processing services; and computer systems design and related services.
May 2013
Su rvey
of
C
urren t
B
35
u s in e s s
Table 2. Contributions to Percent Change in Real Gross Domestic Product by Industry, 2009-2012
Line
2009
Percent change:
Gross domestic product......................................................................
Percentage points:
2
Private industries..................................................................................
3
Agriculture, forestry, fishing, and hunting..................................
1
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
F a rm s.......................................................................................................
Forestry, fishing, and related a c tiv itie s............................................
Mining..................................................................................................
Oil and gas e xtra ctio n .........................................................................
Mining, except oil and g a s..................................................................
Support activities for m inin g...............................................................
Utilities................................................................................................
Construction......................................................................................
Manufacturing...................................................................................
Durable g ood s..............
W ood p rod ucts........
N onm etallic mineral products........................................................
Prim ary m eta ls........
Fabricated metal products
M a ch in e ry...............
C om puter and electronic p rod ucts..............................................
Electrical equipm ent, appliances, and com p onents................
M otor vehicles, bodies and trailers, and p a rts..........................
O ther transportation equipm ent.....
Furniture and related products.......
M iscellaneous m anufacturing.........
Nondurable go o d s..................................
Food and beverage and tobacco prod ucts................................
Textile m ills and textile product mills
Apparel and leather and allied p ro a u c ts ...................................
Paper prod ucts.................................................................................
Printing and related support activities........................................
Petroleum and coal p ro d u c ts ........................................................
C hem ical p ro d u cts..........................................................................
Plastics and rubber p ro d u c ts ........................................................
Wholesale trade.................................................................................
Retail trade..........................................................................................
Transportation and warehousing.................................................
A ir transportation...................................................................................
Rail transportation................................................................................
W ater transportation.............................................................................
Truck transportation..............................................................................
Transit and ground passenger transportation................................
Pipeline transportation........................................................................
O ther transportation and support activ ities...................................
W arehousing and sto ra g e ..................................................................
Information........................................................................................
Publishing industries (includes softw are).......................................
M otion picture and sound recording in d u strie s............................
Broadcasting and te lecom m unica tions...........................................
Inform ation and data processing s e rv ic e s .....................................
2010
2011
2012
50
-3 .1
2.4
1.8
2.2
-3 .3 5
0.13
0.12
0.01
0.44
0.50
0.00
-0 .0 6
-0 .1 7
-0 .5 5
-1 .0 7
-1 .0 5
-0 .0 3
-0 .0 6
0.01
-0 .2 4
-0.21
0.04
-0 .0 8
-0 .3 8
-0 .0 5
-0 .0 6
0.00
-0 .0 2
0.08
-0 .0 4
-0.01
0.02
-0 .0 4
-0.11
0.08
0.01
-0 .7 9
-0 .1 2
-0 .3 0
-0 .0 3
-0 .0 3
0.00
-0 .1 2
0.00
-0 .0 3
-0 .1 0
0.01
2.35
-0 .0 3
-0 .0 4
0.01
-0 .1 6
-0 .2 3
0.00
0.07
0.19
-0 .0 4
0.75
0.73
0.01
0.01
-0 .0 2
0.07
0.10
0.26
0.00
0.30
-0.01
0.01
0.00
0.02
0.08
0.01
0.00
-0 .0 6
0.00
-0 .0 3
0.00
0.02
0.19
0.42
0.19
0.04
0.00
-0.01
0.07
0.00
0.02
0.06
0.01
1.76
-0 .1 7
-0 .1 8
0.01
0.00
-0 .0 5
0.00
0.05
0.05
-0.01
0.28
0.40
0.02
0.01
0.00
0.05
0.11
0.02
0.04
0.13
0.04
0.01
-0 .0 2
-0.11
-0 .0 2
-0.01
0.00
0.00
0.01
-0 .0 8
-0.01
0.00
0.16
0.01
0.14
0.00
0.01
0.02
0.03
0.00
0.02
0.02
0.02
2.48
-0 .0 4
-0 .2 5
-0.11
-0 .0 2
-0.11
-0.01
0.13
0.09
0.01
0.01
0.02
0.25
0.03
0.01
0.18
0.02
0.25
0.07
53
54
55
56
57
58
60
61
62
63
64
65
66
6/
68
69
0.16
70
71
7?
73
74
75
76
77
0.27
0.23
0.04
78
79
80
81
82
83
84
85
86
87
1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
2. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance,
real estate, rental, and leasing; professional and business services; educational services, health care, and social assis
tance; arts, entertainment, recreation, accommodation, and food services; and other services, except government.
51
52
59
0.02
0.11
0.71
0.55
2009
Line
89
90
91
Finance, insurance, real estate, rental, and leasing................
Finance and insurance.........................................................
Federal Reserve banks, credit intermediation, and related
activities.........................................................................
Securities, commodity contracts, and investments................
Insurance carriers and related activities...............................
Funds, trusts, and other financial vehicles............................
Real estate and rental and leasing.......................................
Real estate.........................................................................
Rental and leasing services and lessors of intangible assets
Professional and business services.........................................
Professional, scientific, and technical services...................
Legal services.....................................................................
Computer systems design and related services...................
Miscellaneous professional, scientific, and technical services
Management of companies and enterprises........................
Administrative and waste management services................
Administrative and support services....................................
Waste management and remediation services.....................
Educational services, health care, and social assistance.......
Educational services............................................................
Health care and social assistance........................................
Ambulatory health care services..........................................
Hospitals and nursing and residential care facilities..............
Social assistance................................................................
Arts, entertainment, recreation, accommodation, and food
services.................................................................................
Arts, entertainment, and recreation.....................................
Performing arts, spectator sports, museums, and related
activities.........................................................................
Amusements, gambling, and recreation industries...............
Accommodation and food services......................................
Accommodation..................................................................
Food services and drinking places.......................................
Other services, except government.........................................
Government..................................................................................
Federal.......................................................................................
General government................................................................
Government enterprises..........................................................
State and local..........................................................................
General government................................................................
Government enterprises..........................................................
Addenda:
Private goods-producing industries 1...........................................
Private services-producing industries 2........................................
Information-communications-technology-producing industries 3....
2010
2011
2012
0.24
0.09
0.07
0.43
0.60
-0.18
-0.05
0.28
0.23
0.37
-0 .1 6
0.07
0.20
-
0.20
0.01
-0 .0 4
-0 .0 8
0.02
0.04
-0.36
0.26
0.12
-0 .2 5
0.11
0.26
0.00
0.07
0.05
-0.73
0.26
0.59
0.23
-0.46
0.20
0.40
0.09
0.22
0.04
-0 .2 8
-0 .0 3
0.09
0.13
-
-
-
-
-
0.10
0.15
0.02
0.11
0.31
0.00
-0.09
0.01
0.07
-0.27
0.16
0.20
0.07
-0 .2 6
0.13
0.02
0.19
0.00
-
0.01
0.11
0.15
0.04
0.02
0.01
0.00
0.13
0.13
0.13
0.03
0.04
0.08
0.08
0.07
0.01
0.16
-0 .0 4
0.02
-0.24
0.24
0.20
0.14
-0.03
0.06
0.05
0.03
-
0.01
-
0.02
0.02
0.04
0.03
0.03
- 0.21
0.18
0.15
0.11
-0 .0 9
0.07
0.11
0.07
0.08
0.10
0.02
0.03
0.00
0.12
0.09
-
0.10
-0.04
0.15
0.13
-
0.01
-
0.02
0.21
-0 .0 6
0.15
-
0.02
0.03
-0 .0 4
-0.03
-0.04
-0.09
-
0.02
0.03
-0 .0 6
-0 .0 6
-
-1 .0 6
-2 .2 9
-0 .0 4
0.51
1.83
0.47
0.17
0.03
-
-
-
0.02
-
0.01
0.10
0.11
0.01
0.11
1.65
0.18
0.85
1.63
0.28
3.
Consists of computer and electronic products; publishing industries (includes software); information and data
processing services; and computer systems design and related services.
N o t e . Percentage-point contributions do not sum to the percent change in real gross domestic product because the
contribution of the “Not allocated by industry” line is excluded.
36
Annual Industry Accounts
May 2013
Table 3. Chain-Type Quantity Indexes for Value Added by Industry, 2009-2012
[2005=100]
2009
2010
2011
2012
101.069
99.908
114.472
103.486
102.626
111.233
105.356
104.711
96.068
107.687
107.703
92.490
115.219
108.331
109.474
114.672
90.114
119.048
M in in g ................................................................................
Oil and gas extraction................................................
Mining, except oil and g a s ........................................
Support activities for m in in g .....................................
134.267
121.976
133.077
79.763
131.503
122.020
127.555
79.225
152.301
126.526
166.363
80.560
102.506
U tilitie s ..............................................................................
98.997
74.490
92.209
109.020
73.620
98.564
111.834
73.388
101.039
112.822
75.703
107.290
91.138
82.512
61.069
80.148
75.242
84.973
165.574
103.223
88.809
62.657
73.943
82.310
96.857
194.917
110.238
99.703
66.399
74.667
87.251
109.715
197.102
120.306
89.803
21.014
106.711
59.822
112.231
92.674
107.887
71.478
73.489
87.116
83.309
76.820
100.982
83.218
89.293
57.728
105.147
62.466
112.392
93.049
113.475
75.311
73.716
75.439
83.625
74.470
101.208
86.018
100.423
75.425
112.080
66.189
108.663
91.132
111.928
67.475
72.463
74.979
88.813
68.721
100.671
85.890
93.075
94.746
95.382
96.225
101.361
101.721
99.098
101.521
106.590
93.528
86.578
240.945
88.951
109.315
97.073
87.298
111.287
101.345
87.739
227.071
96.635
107.593
115.596
94.679
116.070
102.124
92.339
286.048
100.718
105.060
138.403
97.847
125.650
104.993
108.313
114.722
84.215
95.516
115.717
112.087
92.895
98.384
115.973
116.867
96.206
100.042
125.305
121.638
Line
G ro s s d o m e s tic p ro d u c t.......................................
P rivate in d u s tr ie s ...................................................................
A g ric u ltu re , fo re s try , fis h in g , a n d h u n tin g ..........
F a rm s.............................................................................
Forestry, fishing, and related a c tiv itie s .................
C o n s tru c tio n ...................................................................
M a n u fa c tu rin g
Durable g o o d s .............................................................
W ood pro d u cts.......................................................
Nonm etallic mineral prod ucts.............................
Prim ary m e ta ls.......................................................
Fabricated metal products...................................
M a c h in e ry ................................................................
C om puter and electronic p ro d u cts....................
Electrical equipm ent, appliances, and
com ponents.........................................................
M otor vehicles, bodies and trailers, and parts.
O ther transportation e q u ip m e n t.........................
Furniture and related p rod ucts...........................
M iscellaneous m anufacturing.............................
N ondurable g o o d s ......................................................
Food and beverage and tobacco pro d u cts......
Textile m ills and textile product m ills..................
Apparel and leather and allied prod ucts..........
Paper p rod ucts........................................................
Printing and related supp ort activ itie s..............
Petroleum and coal products...............................
Chem ical p ro d u c ts .................................................
Plastics and rubber products...............................
W h o le sa le tra d e ..............................................................
R etail tra d e .......................................................................
T ra n s p o rta tio n a nd w a re h o u s in g ............................
Air transportation.........................................................
Rail transportation.......................................................
W ater transportation...................................................
Truck transportation....................................................
Transit and ground passenger transportation......
Pipeline tra n s p o rta tio n ..............................................
O ther transportation and support a c tiv itie s.........
W arehousing and s to ra g e ........................................
In fo rm a tio n .......................................................................
Publishing industries (includes s o ftw a re ).............
Motion picture and sound recording in d u s trie s ...
Broadcasting and telec om m unica tions.................
Inform ation and data processing services............
93.822
103.848
105.364
108.012
121.336
1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
2. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance,
real estate, rental, and leasing; professional and business services; educational services, health care, and social assis-
2009
Line
Finance, insurance, real estate, rental, and leasing............
Finance and insurance......................................................
Federal Reserve banks, credit intermediation, and related
activities.......................................................................
Securities, commodity contracts, and investments...........
Insurance carriers and related activities...........................
Funds, trusts, and other financial vehicles........................
Real estate and rental and leasing....................................
Real estate......................................................................
Rental and leasing services and lessors of intangible
assets..........................................................................
Professional and business services.....................................
Professional, scientific, and technical services..............
Legal services.................................................................
Computer systems design and related services...............
Miscellaneous professional, scientific, and technical
services.......................................................................
Management of companies and enterprises....................
Administrative and waste management services............
Administrative and support services.................................
Waste management and remediation services................
Educational services, health care, and social assistance...
Educational services.........................................................
Health care and social assistance...................................
Ambulatory health care services......................................
Hospitals and nursing and residential care facilities.........
Social assistance.............................................................
Arts, entertainment, recreation, accommodation, and food
services..............................................................................
Arts, entertainment, and recreation..................................
Performing arts, spectator sports, museums, and related
activities.......................................................................
Amusements, gambling, and recreation industries...........
Accommodation and food services..................................
Accommodation...............................................................
Food services and drinking places...................................
Other services, except government......................................
Government....................................................................................
Federal....................................................................................
General government............................................................
Government enterprises......................................................
State and local.......................................................................
General government............................................................
Government enterprises......................................................
Addenda:
Private goods-producing industries 1........................................
Private services-producing industries 2....................................
Information-communications-technology-producing industries 3
2010
2011
2012
105.607 106.040 106.391 108.626
104.024 101.752 101.112 104.728
108.217 103.802 102.796
89.397 94.758 88.945
110.591 106.602 107.495
73.070 75.918 90.010
106.680 108.835 109.844 111.147
105.981 108.326 108.962
113.215 113.573 118.076
103.846 106.089 111.203 113.233
107.000 109.799 115.679 117.064
84.987 83.154 81.748
134.553 144.995 158.002
108.922 111.919 119.209
101.654 96.773 96.336 99.769
97.651 103.036 110.101 112.692
97.546 102.657 110.398
98.387 106.097 107.579
112.056 113.472 115.397 115.862
107.717 105.766 106.993 107.215
112.699 114.659 116.698 117.204
113.017 117.902 120.301
112.536 111.086 113.371
111.640 114.589 113.423
94.050 100.114 105.492 109.215
98.893 104.995 110.791 114.461
100.520 104.452 109.626
96.663 105.601 112.209
92.510
98.561 103.807 107.544
85.566 94.542 103.155
95.318 100.280 104.288
93.221 93.916 95.105 95.246
103.940 104.589 103.820 103.469
106.343 109.384 109.110 108.524
110.775 114.835 115.730
76.291 72.756 64.839
102.848 102.404 101.408 101.164
103.908 103.188 101.999
90.450 93.115 94.320
92.363 95.059 95.631 100.131
102.135 104.860 107.386 109.934
125.542 139.836 145.851 155.362
tance; arts, entertainment, recreation, accommodation, and food services; and other services, except government.
3. Consists of computer and electronic products; publishing industries (includes software); information and data
processing services; and computer systems design and related sen/ices.
May 2013
S u rvey
of
C
u rren t
B
37
u s in e s s
Table 4. Percent Changes in Chain-Type Price Indexes for Value Added by Industry, 2009-2012
Line
2009
Gross domestic product..
Private industries......................
2010
A g ric u ltu re , fo re s try , fis h in g , a nd h u n tin g ......................
F a rm s .........................................................................................
Forestry, fishing, and related activ itie s .............................
-20.9
1.3
1.2
13.9
-2 4 .9
-2 .7
16.0
6.5
M in in g ............................................................................................
O il and gas extraction............................................................
Mining, except oil and g a s....................................................
S upp ort activities for m in in g ................................................
-44.5
25.0
-5 8 .0
1.8
-1 7 .8
41.2
14.4
-9 .3
12.9
1.5
4.1
-2.4
-2.5
- 1.0
- 2.8
2.8
0.9
0.8
U tilitie s ........
C o n s tru c tio n
M a n u fa c tu rin g
Durable g o o d s.........................................................................
W ood products
N onm etallic mineral prod ucts.........................................
Prim ary m e ta ls...................................................................
Fabricated metal products...............................................
M a ch in e ry...........................................................................
Com puter and electronic pro d u cts................................
Electrical equipm ent, appliances, and com ponents.,
M otor vehicles, bodies and trailers, and p a rts............
O ther transportation equip m e n t....................................
Furniture and related products
M iscellaneous manufacturing..
N ondurable g ood s..........................
Food and beverage and tobacco prod ucts.................
Textile m ills and textile product m ills.............................
Apparel and leather and allied products.....................
Paper prod ucts...................................................................
Printing and related support a ctivities..........................
Petroleum and coal products...
Chem ical p ro d u cts....................
Plastics and rubber p ro d u c ts .........................................
4.0
-
1.6
10.3
-4 2 .0
14.6
13.3
-3 .2
12.9
46.7
5.9
11.9
4.8
4.4
16.4
5.9
1.9
11.6
2.4
-
22.8
8.6
10.0
-5 .3
29.3
-7 .2
-5 .1
-3 .7
-4.1
-1 3 .4
- 0.6
-3 .9
-
0.8
1.0
-9 .0
- 1 .4
- 1 .4
2.7
- 2.6
28.3
2011
2.1
2.3
27.4
35.0
2.1
15.1
10.6
2.1
1.5
3.6
-1 .7
-7 .9
-2 .7
15.8
0.2
1.0
-4 .8
-
-1.7
-9 .6
1.1
0.3
0.1
9.8
-0 .5
1.9
-0 .7
-3 .3
44.9
0.8
8.0
3.4
Retail trade...............................................................
Transportation and warehousing........................
0.9
-3.3
2.7
3.2
1.1
A ir transportation......................................................
Rail transportation
W ater transportation................................................
Truck transportation..................................................
Transit and ground passenger transportation....
Pipeline tra n s p o rta tio n ............................................
O ther transportation and support activ itie s .......
W arehousing and sto ra g e ..........................
6.3
2.3
-6 .4
8.5
8.1
10.6
8.5
1.4
2.8
Information....................................................
Publishing industries (includes software)
Motion picture and sound recording in d u strie s.
Broadcasting and telecom m unica tions...
Inform ation and data processing s e rv ic e s ........
-
0.1
2.5
5.3
- 4 .0
3.7
9.2
0.0
- 2.6
-1.9
-0.3
2.5
1.1
-3 .7
-0 .5
0.4
0.2
-1 .4
-2 .4
0.3
3.4
1.0
1.6
1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
2. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance,
real estate, rental, and leasing; professional and business services; educational services, health care, and social assis-
2009
Finance, insurance, real estate, rental, and leasing..................
Finance and insurance...........................................................
Federal Reserve banks, credit intermediation, and related
activities...........................................................................
Securities, commodity contracts, and investments.................
Insurance carriers and related activities................................
Funds, trusts, and other financial vehicles.............................
Real estate and rental and leasing.........................................
Real estate..........................................................................
Rental and leasing services and lessors of intangible assets..
Professional and business services..........................................
Professional, scientific, and technical services....................
Legal services.....................................................................
Computer systems design and related services.....................
Miscellaneous professional, scientific, and technical services.
Management of companies and enterprises..........................
Administrative and waste management services..................
Administrative and support services......................................
Waste management and remediation services......................
Educational services, health care, and social assistance.........
Educational services..............................................................
Health care and social assistance.........................................
Ambulatory health care services...........................................
Hospitals and nursing and residential care facilities...............
Social assistance..................................................................
Arts, entertainment, recreation, accommodation, and food
services..................................................................................
2010
2011
-0.3
-3.2
2.3
8.2
0.9
- 4 .8
-1 4 .8
3.8
6.3
15.0
-1 .5
2.6
25.9
-1 .7
5.5
2.7
^ t.1
1.1
-1 .3
0.5
0.9
- 0 .9
0.8
2.3
1.6
1.2
3.7
1.0
0.8
4.3
-0 .7
1.4
1.6
-
1.0
0.9
0.8
-
3.9
-2 .4
1.1
-5.9
4.5
11.2
4.5
4.1
0.2
2.6
4.1
2.3
3.9
0.4
2012
1.5
3.5
0.3
0.8
1.4
1.8
2.3
0.2
8.5
-0.7
-
0.6
1.1
1.1
2.5
1.6
2.2
3.5
1.3
3.0
7.1
3.7
2.0
3.3
4.3
2.5
1.9
2.1
1.9
2.6
2.0
1.1
1.2
0.2
0.5
2.1
Arts, entertainment, and recreation......................................
2.1
0.5
0.6
0.3
Performing arts, spectator sports, museums, and related
activities......................................................................................
Am usem ents, gambling, and recreation industries..............
2.3
1.8
0.9
0.1
0.3
0.9
5.0
-0.5
0.5
2.0
7.8
-2 .8
0.3
0.5
0.5
Other services, except government..........................................
Government.........................................................................................
Federal.............................................................................................
5.0
2.4
2.6
2.6
1.7
2.0
2.0
1.8
General governm ent........................................................................
Governm ent ente rprises.................................................................
0.9
9.8
2.6
2.7
1.6
2.1
1.9
2.2
4.3
Accom m odation............................................................................
Food services and drinking p la c e s .........................................
-
2.8
State and local............
0.0
-
Line
Accommodation and food services......................................
4.6
8.3
-1 6 .7
0.9
4.0
2.5
0.5
-3 .2
0.5
0.0
2.5
6.8
-3 .0
-
-5.1
16.5
15.0
7.3
1.7
6.4
W h o le sa le tra d e .........................................................................
2012
General governm ent.
Governm ent ente rprises.................................................................
2.1
12.1
-
-
2.1
1.0
2.2
1.6
1.8
-1 .2
2.7
1.9
2.2
2.1
Addenda:
Private goods-producing industries 1...............................................
Private services-producing industries 2...........................................
Inform ation-com m unications-technology-producing industries !
-4 .6
2.3
-
0.8
1.8
1.0
-3 .2
5.6
1.5
-
2.2
0.9
1.7
-0 .4
tance; arts, entertainment, recreation, accommodation, and food services; and other services, except government.
3. Consists of computer and electronic products; publishing industries (includes software); information and data
processing services; and computer systems design and related services.
38
Annual Industry Accounts
May 2013
Table 5. Contributions to Percent Change in the Chain-Type Price Index for Gross Domestic Product by Industry, 2009-2012
Line
2009
Percent change:
Gross domestic product..................................................................
Percentage points:
2
Private industries..............................................................................
Agriculture, forestry, fishing, and hunting..............................
3
1
4
0.9
0.72
-0.25
2010
1.3
2011
2.1
1.03
0.14
2.00
0.28
0.27
0.00
2012
0.48
Finance and insurance..............................................................
-0.25
0.63
0.06
1.30
0.01
Federal Reserve banks, credit interm ediation, and related
a ctivities.......................................................................................
Securities, com m odity contracts, and investm ents..............
Insurance carriers and related a c tiv itie s .................................
Funds, trusts, and other financial ve hicles..............................
-0 .1 8
-0 .1 8
0.10
0.01
0.53
-0 .0 2
0.07
0.05
-0 .0 6
0.07
0.07
-0.01
Real estate and rental and leasing.........................................
0.18
-0.15
0.12
Real estate.......................................................................................
Rental and leasing services and lessors of intangible
a s s e ts ..........................................................................................
0.19
-0 .1 5
0.10
0.01
0.01
0.02
0.10
0.28
0.19
0.22
Professional, scientific, and technical services........
0.09
0.07
0.06
0.18
Legal services.......................................................................
C om puter system s design and related se rvic e s .........
M iscellaneous professional, scientific, and technical
s e rv ic e s .............................................................................
0.05
-0.01
0.05
-0 .0 3
0.06
-0.01
0.01
0.12
0.01
-1.14
0.38
0.26
7
8
9
O il and gas extraction......................................................................
Mining, except oil and g a s..............................................................
Support activities for m inin g..........................................................
-1 .0 8
0.01
-0 .0 6
0.36
0.05
-0 .0 3
0.17
0.05
0.04
10
Utilities............................................................................................
Construction..................................................................................
Manufacturing...............................................................................
0.23
0.06
0.46
-0.05
-0.09
-0.11
0.04
0.05
0.41
0.02
0.08
0.18
Durable goods...
W ood p rod ucts.............................................................................
Nonm etallic mineral prod ucts...................................................
P rim ary metals
Fabricated m etal prod ucts.........................................................
M a c h in e ry ......................................................................................
C om puter and electronic p ro d u c ts .........................................
Electrical equipm ent, appliances, and com p onents...........
M otor vehicles, bodies and trailers, and p a rts .....................
O ther transportation e q u ip m e n t..............................................
Furniture and related prod ucts.................................................
M iscellaneous m anufacturing...................................................
Nondurable g o o d s............................................................................
Food and beverage and tobacco prod ucts...........................
Textile mills and textile product m ills.......................................
Apparel and leather and allied products................................
Paper prod ucts.............................................................................
Printing and related support activ ities....................................
Petroleum and coal products....................................................
C hem ical p ro d u c ts ......................................................................
Plastics and rubber p ro d u c ts ...................................................
0.24
0.00
0.02
-0 .1 8
0.12
0.10
-0 .0 5
0.04
0.09
0.04
0.02
0.03
0.23
0.22
0.01
0.00
0.04
0.01
-0 .2 3
0.13
0.04
-0 .1 6
0.00
-0.01
0.07
-0 .0 6
-0 .0 4
-0 .0 6
-0.01
-0 .0 4
0.00
-0.01
0.00
0.05
-0 .1 5
0.00
0.00
0.01
-0.01
0.20
0.01
-0.01
-0 .1 0
-0.01
-0.01
0.05
0.00
-0.01
-0 .0 8
-0.01
-0 .0 5
0.01
0.00
0.00
0.51
-0.01
0.01
0.00
0.00
-0.01
0.37
0.13
0.02
0.04
Wholesale trade.............................................................................
Retail trade......................................................................................
Transportation and warehousing..............................................
0.40
0.10
0.18
0.05
-0.21
A ir transportation..............................................................................
Rail transportation............................................................................
W ater transportation........................................................................
Truck transportation..........................................................................
Transit and ground passenger transportation...........................
Pipeline tran s p o rta tio n ....................................................................
O ther transportation and support activ itie s...............................
W arehousing and s to ra g e ..............................................................
0.03
0.01
-0.01
0.07
0.01
0.01
0.06
0.00
0.00
0.01
0.01
0.01
-0 .0 3
0.01
0.01
0.00
-0.01
0.15
0.19
0.03
0.02
0.02
-0 .0 2
0.01
0.01
0.00
0.00
-0.01
Information......................................................................................
0.02
-0.08
-0.01
Publishing industries (includes so ftw a re )..................................
M otion picture and sound recording in d u s trie s ........................
Broadcasting and telec om m unica tions......................................
Inform ation and data processing s e rv ic e s ................................
0.02
0.00
-0.01
0.00
-0 .0 4
0.00
-0 .0 3
-0.01
0.00
0.00
0.00
-0.01
36
37
38
39
40
41
42
43
44
45
46
4/
48
49
-0.10
0.13
0.08
0.06
0.10
0.04
1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
2. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance,
real estate, rental, and leasing; professional and business services; educational services, health care, and social assistance; arts, entertainment, recreation, accommodation, and food services; and other services, except government.
2012
Finance, insurance, real estate, rental, and leasing..............
-0 .2 4
-0.01
35
2011
1.8
F a rm s..................................................................................................
Forestry, fishing, and related a c tiv itie s.......................................
34
2010
0.18
Mining..............................................................................................
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
2009
-0.07
5
6
11
Line
Professional and business services.
Management of companies and enterprises....................
Administrative and waste management services............
Administrative and support services.................................
Waste management and remediation services.................
Educational services, health care, and social assistance . ..
Educational services........................................................
Health care and social assistance...................................
Ambulatory health care services.....................................
Hospitals and nursing and residential care facilities..........
Social assistance............................................................
Arts, entertainment, recreation, accommodation, and food
services............................................................................
Arts, entertainment, and recreation.................................
Performing arts, spectator sports, museums, and related
activities......................................................................
Amusements, gambling, and recreation industries...........
Accommodation and food services.................................
Accommodation..............................................................
Food services and drinking places...................................
Other services, except government.....................................
Government..............................................................................
Federal..................................................................................
General government...........................................................
Government enterprises.....................................................
State and local........
General government
Government enterprises
Addenda:
Private goods-producing industries 1..........................................
Private services-producing industries 2.......................................
Information-communications-technology-producing industries 3....
-
0.30
0.27
0.03
0.05
0.05
-0.11
0.19
0.15
0.01
0.13
-0 .0 2
-0 .0 3
0.01
0.03
0.11
0.01
0.01
0.01
0.01
0.34
0.20
0.04
0.14
0.04
0.19
0.08
0.26
0.12
0.13
0.02
0.07
0.07
0.01
0.16
-0.01
0.02
0.08
0.02
0.01
0.01
0.00
0.15
0.01
0.01
0.10
0.04
0.04
0.02
0.00
0.00
0.00
0.00
0.01
0.01
-0 .0 2
0.15
-0 .0 2
0.01
0.00
0.01
0.12
0.06
0.27
0.06
0.29
0.09
0.14
0.32
0.08
-
0.12
0.03
0.15
0.08
0.04
0.26
0.09
0.04
0.04
0.11
0.25
0.15
0.16
-0.01
0.20
0.19
0.01
0.17
0.17
0.08
-0 .8 7
1.58
-0 .0 4
0.31
0.72
-0 .1 4
0.99
1.00
-0 .1 0
0.17
1.13
-0 .0 2
0.01
0.09
0.00
3. Consists of computer and electronic products; publishing industries (includes software); information and data
processing services; and computer systems design and related services.
N o t e . Percentage-point contributions do not sum to the percent change in the chain-type price index for gross domestic
product because the contribution of the “Not allocated by industry” line is excluded.
May 2013
S u rvey
of
C
urren t
B
39
u s in e s s
Table 6. Chain-Type Price Indexes for Value Added by Industry, 2009-2012
[2005=100]
Line
2009
Gross domestic product.........................................
Private industries...........................................................
Agriculture, forestry, fishing, and hunting.................
Farms......................................................................
Forestry, fishing, and related activities.......................
Mining.........................................................................
Oil and gas extraction...............................................
Mining, except oil and gas.........................................
Support activities for mining......................................
Utilities.......................................................................
Construction...............................................................
Manufacturing............................................................
Durable goods.........................................................
Wood products.....................................................
Nonmetallic mineral products................................
Primary metals.....................................................
Fabricated metal products.....................................
Machinery...........................................................
Computer and electronic products........................
Electrical equipment, appliances, and components
Motor vehicles, bodies and trailers, and parts........
Other transportation equipment...........................
Furniture and related products..............................
Miscellaneous manufacturing...............................
Nondurable goods...................................................
Food and beverage and tobacco products............
Textile mills and textile product mills......................
Apparel and leather and allied products................
Paper products....................................................
Printing and related support activities...................
Petroleum and coal products................................
Chemical products...............................................
Plastics and rubber products...............................
Wholesale trade.........................................................
Retail trade.................................................................
Transportation and warehousing..............................
Air transportation.....................................................
Rail transportation...................................................
Water transportation.................................................
Truck transportation.................................................
Transit and ground passenger transportation............
Pipeline transportation.............................................
Other transportation and support activities...............
Warehousing and storage........................................
information.................................................................
Publishing industries (includes software)..................
Motion picture and sound recording industries.........
Broadcasting and telecommunications.....................
Information and data processing services................
2010
2011
2012
109.529 110.993 113.359 115.387
109.338 110.642 113.194 114.893
97.871 111.507 142.110 143.452
96.336 111.709 150.835
107.321 114.335 116.727
85.894 107.397 123.569 117.217
64.525 91.093 106.112
154.180 176.379 202.854
137.721 124.888 138.140
93.998 94.657
69.617
109.012
124.433
116.372
109.691
62.774
116.714
90.225
109.787
113.911
105.864
130.429 133.653
111.647
114.891
101.847
131.673
95.228
122.122 177.001
127.322 137.446
117.543 121.570
95.595
75.603
112.076
107.409
116.158
110.785
65.944
118.679
99.810
108.610
113.549
105.756
118.796
112.256
107.556
99.924
132.578
98.522
113.478 114.451 117.540 119.172
106.704 103.184 106.518 107.545
112.546 112.450 113.728 117.582
113.986
132.640
65.160
107.936
115.277
131.383
118.050
110.527
117.128
135.980
68.610
103.662
119.596
143.459
118.003
107.623
122.462
147.296
57.161
104.591
124.385
147.079
118.543
104.187
98.225
96.373
96.112
Federal Reserve banks, credit interm ediation, and related
a c tiv itie s.........................................................................................
Securities, com m odity contracts, and investm ents.................
Insurance carriers and related a c tiv itie s ....................................
Funds, trusts, and other financial veh ic le s................................
2010
2011
2012
107.190 109.654 110.606 112.243
103.124 111.566 112.471 116.363
100.014
105.750
105.189
102.288
115.039
104.141
107.925
128.792
113.119
109.842
110.881
123.464
Real esta te......................................................................................... 109.930 108.506 109.427
Rental and leasing services and lessors of intangible assets 107.664 108.180 109.682
Professional and business services............................................ 111.661 114.238 116.021 118.082
Professional, scientific, and technical services.................... 112.305 113.431 114.371 117.026
Legal se rvic e s...................................................................................
C om puter system s design and related s e rv ic e s .....................
M iscellaneous professional, scientific, and technical
services..........................................................................................
Management of companies and enterprises....................
Administrative and waste management services...........
Adm inistrative and support se rvic e s.....................................
W aste m anagem ent and rem ediation servic es..................
Educational services, health care, and social assistance.
Educational services.............................................................
Health care and social assistance...............................
Am bulatory health care services...................................
H ospitals and nursing and residential care fa c ilitie s .
Social a s sis ta n ce ...............................................................
Arts, entertainment, recreation, accommodation, and food
services.........................................................................................
Arts, entertainment, and recreation.....................................
Performing arts, spectator sports, museums, and related
a c tiv itie s.....................................................................................
Am usem ents, gambling, and recreation in d u s trie s.............
Accommodation and food services.....................................
A cco m m odatio n............................................................................
Food services and drinking places...........................................
Other services, except government.........................................
Government.........................................................................................
Federal........................
General governm ent
Governm ent enterprises
State and local...........
97.051
104.427 100.554 100.092
108.380 108.337 108.719
94.773 93.483 93.471
94.837 92.606 91.166
1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
2. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance,
real estate, rental, and leasing; professional and business services; educational services, health care, and social assis-
Finance, insurance, real estate, rental, and leasing................
Finance and insurance...............................................................
Real estate and rental and leasing........................................... 109.698 108.472 109.452 109.733
129.853 126.752 129.391 130.985
118.985 116.054 117.802 120.498
106.430 105.413 109.198 110.867
98.310
73.513
118.367
83.096
125.128
116.707
68.477
123.723
115.190
109.314
118.141
106.656
117.610
123.424
109.101
101.334
129.040
101.139
95.188
126.297
121.184
2009
Line
General governm ent
G overnm ent enterprises
123.624 128.435 133.977
98.702 96.317 95.657
112.380 113.579 113.863
111.780 124.264 134.789 135.651
110.042 110.535 109.748 110.966
109.757 109.968 108.767
112.750 115.688 118.551
114.703 117.299 119.155 121.718
126.019 130.924 135.495 139.594
113.126 115.408 116.902 119.260
111.190 113.339 114.640
115.512 117.976 119.405
112.395 114.554 117.479
115.090 114.833 115.432 117.870
111.130 111.733 112.379 112.677
114.189 115.184 115.583
107.488 107.602 108.548
116.423 115.870 116.452 119.630
107.284 104.329 104.882
120.158 120.549 121.141
118.023 121.084 124.255 126.353
116.295 118.566 121.096 123.480
114.868 117.901 120.191 122.716
113.827 116.953 119.540
124.205 126.195 124.966
116.956 118.855 121.503 123.817
116.582 118.738 121.396
122.099 120.648 123.176
Addenda:
Private goods-producing industries 1...............................................
Private services-producing in d u s trie s 2............................................
Inform ation-com m unications-technology-producing industries :
105.928 107.812 113.901 114.963
110.226 111.376 112.995 114.861
87.682 84.913 83.005 82.662
tance; arts, entertainment, recreation, accommodation, and food services; and other services, except government.
3. Consists of computer and electronic products; publishing industries (includes software); information and data
processing services; and computer systems design and related services.
Annual Industry Accounts
40
May 2013
Table 7. Value Added by Industry, 2009-2012
[Billions of dollars]
Line
1
2009
2010
2011
2012
Gross domestic product....................................................... 13,973.7 14,498.9 15,075.7 15,684.8
2 Private industries............................................................................
12,056.7 12,532.3 13,081.8 13,657.6
3
Agriculture, forestry, fishing, and hunting...........................
142.4
157.6
173.5
4
5
F a rm s ................................................................................................
Forestry, fishing, and related a c tiv itie s .....................................
113.2
29.2
124.8
32.9
138.7
34.9
168.6
6
M ining............................................................................................
221.7
251.9
289.9
7
8
9
Oil and gas extraction.
Mining, except oil and g a s ...........................................................
Support activities for m in in g ........................................................
138.1
45.1
38.5
156.0
51.1
44.8
174.2
58.4
57.3
10
Utilities..........................................................................................
264.7
284.5
297.9
304.3
11
Construction................................................................................
542.9
523.3
529.5
558.7
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Manufacturing..............................................................................
1,540.1
1,630.5
1,731.5
1,866.7
Durable goods
W ood p ro d u cts...........................................................................
Nonm etallic mineral prod ucts.................................................
Prim ary m e ta ls...........................................................................
Fabricated metal prod ucts.......................................................
M a c h in e ry ...................................................................................
C om puter and electronic p ro d u c ts .......................................
Electrical equipm ent, appliances, and co m p o n e n ts........
M otor vehicles, bodies and trailers, and p a rts ...................
O ther transportation e q u ip m e n t............................................
Furniture and related p rod ucts..............................................
M iscellaneous m anufacturing.................................................
Nondurable g o o d s ..........................................................................
Food and beverage and tobacco pro d u cts.........................
Textile m ills and textile product m ills.....................................
Apparel and leather and allied products..............................
Paper pro d u cts...........................................................................
P rinting and related support activ itie s .................................
Petroleum and coal products..................................................
Chem ical p ro d u c ts ....................................................................
Plastics and rubber products..................................................
787.0
20.0
32.8
35.8
113.4
108.6
208.0
44.4
27.2
89.0
24.3
83.4
753.2
229.1
18.3
11.9
60.6
31.6
101.9
233.6
66.3
866.7
22.2
31.8
42.7
115.2
117.5
235.8
42.3
64.8
87.1
24.3
82.9
763.8
219.1
19.0
11.8
53.9
30.9
126.7
236.0
66.4
910.1
22.9
32.8
49.9
122.3
131.8
227.0
46.8
76.5
93.9
25.9
80.2
821.3
215.0
18.2
11.8
53.2
31.7
169.4
253.5
68.6
1,000.2
34
Wholesale trade...........................................................................
766.3
799.0
845.1
897.9
35
Retail trade...................................................................................
846.8
876.0
905.7
949.1
36
37
38
39
40
41
42
43
44
Transportation and warehousing............................................
396.6
422.6
447.9
469.3
A ir transportation............................................................................
Rail transportation..........................................................................
W ater transportation......................................................................
Truck transportation.......................................................................
Transit and ground passenger transportation.........................
Pipeline tra n s p o rta tio n .................................................................
O ther transportation and support a c tiv itie s ............................
W arehousing and s to ra g e ...........................................................
59.4
31.0
13.9
114.8
26.7
13.2
94.9
42.8
66.1
32.2
13.8
119.8
27.2
17.2
102.8
43.5
69.6
36.7
14.5
126.0
27.7
21.1
106.8
45.6
45
46
47
48
49
Information...................................................................................
604.8
612.2
646.6
Publishing industries (includes so ftw a re )................................
Motion picture and sound recording in d u s trie s .....................
Broadcasting and telecom m unications.....................................
Inform ation and data processing services...............................
131.8
57.3
340.7
75.0
140.0
58.9
336.8
76.4
144.3
60.2
363.9
78.2
285.2
866.5
690.6
1. The NIPA reconciliation item shows the differences between the Annual Industry Accounts (AlAs) and the National
Income and Product Accounts (NIPAs) that result from the incorporation of source data in the AlAs that were not available
to be incorporated in the NIPAs. These differences do not indicate future revisions to the NIPAs, which will reflect the incor
poration of additional key source data.
2. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
Line
F inan ce, in s u ra n c e , real esta te , re n ta l, a nd le a s in g ................
Fin a n ce a nd in s u r a n c e ..................................................................
Federal Reserve banks, credit interm ediation, and related
activities........................................................................................
Securities, com m odity contracts, and investm ents...............
Insurance carriers and related a ctivities..................................
Funds, trusts, and other financial v e h ic le s ..............................
Real e sta te a n d re n ta l and le a s in g ............................................
Real e s ta te ......................................................................................
Rental and leasing services and lessors of intangible
asse ts...........................................................................................
P ro fe s s io n a l and b u s in e s s s e rv ic e s ..............................................
P ro fe 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 ic e s ...................
Legal s e rv ic e s .................................................................................
Com puter system s design and related s e rv ic e s ...................
M iscellaneous professional, scientific, and technical
se rvic e s........................................................................................
M ana gem ent o f c o m p a n ie s a nd e n te r p r is e s .........................
A d m in is tra tiv e and w a ste m a n a g e m e n t s e r v ic e s ................
Adm inistrative and support s e rv ic e s ........................................
W aste m anagem ent and rem ediation s e rv ic e s ......................
E d u c a tio n a l s e rv ic e s , h e a lth care, a nd s o c ia l a s s is ta n c e .....
E d u c a tio n a l s e rv ic e s .......................................................................
H ealth ca re a nd s o c ia l a s s is ta n c e .............................................
Am bulatory health care s e rv ic e s ................................................
Hospitals and nursing and residential care facilities.............
Social assistance............................................................................
A rts , e n te rta in m e n t, re c re a tio n , a cc o m m o d a tio n , a n d fo o d
s e rv ic e s ................................................................................................
A rts , e n te rta in m e n t, and re c re a tio n ...........................................
Performing arts, spectator sports, museums, and related
activities........................................................................................
Am usem ents, gambling, and recreation industries................
A c c o m m o d a tio n a n d fo o d s e rv ic e s ...........................................
Accom m odation..............................................................................
Food services and drinking p la ce s............................................
O th e r s e rv ic e s , e x c e p t g o v e rn m e n t...............................................
G o v e rn m e n t.................................................................................................
F e d e ra l.....................
General governm ent...........................................................................
G overnm ent ente rprises....................................................................
S tate a nd lo c a l......
General governm ent...........................................................................
G overnm ent ente rprises....................................................................
NIPA re c o n c ilia tio n ite m 1.......................................................................
Addenda:
Gross dom estic product, N IPAs...........................................................
Less: Value added, all ind u strie s.........................................................
NIPA reconciliation ite m 1.......................................................................
Private goods-producing industries 2 .................................................
Private services-producing industries 3.............................................
Inform ation-com m unications-technology-producing in d u s trie s 4
2009
2010
2011
2012
2.941.8
1.093.6
3.021.8
1,157.3
3,058.1
1.159.3
3,168.6
1,242.3
506.4
173.0
388.1
26.2
558.7
180.6
383.8
34.2
544.0
178.8
397.6
38.9
1.848.3
1.864.5
1.898.8
1,662.0
1.676.8
1.701.0
186.2
187.7
197.9
1,693.2
1.045.8
1.769.6
1,084.0
1.883.9
1,151.5
200.7
174.1
204.0
183.1
209.2
198.1
671.1
696.9
744.1
248.2
399.1
262.7
423.0
283.6
448.8
357.3
41.9
376.7
46.3
400.7
48.1
1.225.6
163.1
1.062.4
1,269.2
166.4
1.102.7
1.311.1
174.2
1.136.9
509.8
461.3
91.3
542.1
465.1
95.6
559.5
480.4
97.0
525.4
130.6
558.0
139.4
591.1
148.0
1,926.3
1,952.4
1,192.3
295.6
464.5
1.344.7
179.9
1.164.8
624.9
153.3
75.2
55.4
78.8
60.6
83.0
65.0
394.8
418.6
443.1
101.1
293.7
108.6
310.0
119.1
324.0
344.4
1.917.0
613.0
356.0
1,966.6
647.2
369.9
1.993.8
658.1
553.2
59.8
589.2
57.9
607.0
51.1
1.304.0
1.319.5
1.335.8
1.208.6
95.4
1.222.5
97.0
1.235.4
100.3
2,447.1
9,609.6
588.9
2,563.4 2,724.4 2,879.2
9,968.9 10,357.4 10,778.3
647.7
687.1
635.3
471.6
376.7
2,026.2
668.3
1,357.9
3. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance,
real estate, rental, and leasing; professional and business services; educational services, health care, and social assis
tance; arts, entertainment, recreation, accommodation, and food services; and other services, except government.
4. Consists of computer and electronic products; publishing industries (includes software); information and data
processing services; and computer systems design and related services.
May 2013
Su rvey
of
C
u rren t
B
41
u s in e s s
Table 8. Value Added by Industry as a Percentage of Gross Domestic Product, 2009-2012
[P ercent]
Line
2009
2010
2011
2012
Gross domestic product..............................................................
100.0
100.0
100.0
100.0
2 Private industries........................................................................................
86.3
86.4
86.8
87.1
1.1
1
3
4
5
Agriculture, forestry, fishing, and hunting...................................
1.0
1.1
1.2
F a rm s........................................................................................................
Forestry, fishing, and related a c tiv itie s.............................................
0.8
0.2
0.9
0.2
0.9
0.2
Mining....................................................................................................
1.6
1.7
1.9
7
fl
9
Oil and gas e xtra ctio n ..........................................................................
Mining, except oil and g a s ...................................................................
S upp ort activities fo r m inin g................................................................
1.0
0.3
0.3
1.1
0.4
0.3
1.2
0.4
0.4
10
Utilities.................................................................................................
1.9
2.0
2.0
11
Construction.......................................................................................
3.9
3.6
3.5
3.6
12
13
14
15
16
17
18
19
20
21
22
23
24
2b
26
2/
28
29
30
31
32
33
Manufacturing....................................................................................
11.0
11.2
11.5
11.9
Durable goods.
W ood p ro d u cts...................................................................................
Nonm etallic m ineral products.........................................................
Prim ary metals
Fabricated metal products..............................................................
M a ch in e ry...........................................................................................
C om puter and electronic pro d u cts...............................................
Electrical equipm ent, appliances, and com p onents.................
M otor vehicles, bodies and trailers, and parts...........................
O ther transportation equip m e n t....................................................
Furniture and related prod ucts......................................................
M iscellaneous m anufacturing.........................................................
Nondurable g ood s.................................................................................
Food and beverage and tobacco products.................................
Textile m ills and textile product m ills ............................................
Apparel and leather and allied p ro d u c ts ....................................
Paper prod ucts.....................
Printing and related support activities.........................................
Petroleum and coal producls
C hem ical pro d u cts..............
Plastics and rubber p ro d u c ts .........................................................
5.6
0.1
0.2
0.3
0.8
0.8
1.5
0.3
0.2
0.6
0.2
0.6
5.4
1.6
0.1
0.1
0.4
0.2
0.7
1.7
0.5
6.0
0.2
0.2
0.3
0.8
0.8
1.6
0.3
0.4
0.6
0.2
0.6
5.3
1.5
0.1
0.1
0.4
0.2
0.9
1.6
0.5
6.0
0.2
0.2
0.3
0.8
0.9
1.5
0.3
0.5
0.6
0.2
0.5
5.4
1.4
0.1
0.1
0.4
0.2
1.1
1.7
0.5
6.4
1.8
1.9
Line
2011
20.8
8.0
20.3
7.7
Federal Reserve banks, credit interm ediation, and related
activities...............................................................................................
Securities, com m odity contracts, and investm ents.......................
Insurance carriers and related activ itie s..........................................
Funds, trusts, and other financial vehicles......................................
3.6
1.2
2.8
0.2
3.9
1.2
2.6
0.2
3.6
1.2
2.6
0.3
56
57
b8
Real estate and rental and leasing................................................
13.2
12.9
12.6
Real e s ta te ..............................................................................................
Rental and leasing services and lessors of intangible a s s e ts ...
11.9
1.3
11.6
1.3
11.3
1.3
b9
Professional and business services.................................................
Professional, scientific, and technical services........................
12.1
7.5
12.2
7.5
12.5
7.6
Legal s e rv ic e s ........................................................................................
Com puter system s design and related servic es...........................
M iscellaneous professional, scientific, and technical services
1.4
1.2
4.8
1.4
1.3
4.8
1.4
1.3
4.9
Management of companies and enterprises...............................
Administrative and waste management services......................
1.8
2.9
1.8
2.9
1.9
3.0
Adm inistrative and support services................................................
W aste m anagem ent and rem ediation s e rv ic e s ............................
2.6
0.3
2.6
0.3
2.7
0.3
Educational services, health care, and social assistance...........
Educational services........................................................................
Health care and social assistance................................................
8.8
1.2
7.6
8.8
1.1
7.6
8.7
1.2
7.5
Am bulatory health care se rv ic e s .......................................................
Hospitals and nursing and residential care fa cilitie s....................
Social assistance...................................................................................
3.6
3.3
0.7
3.7
3.2
0.7
3.7
3.2
0.6
Arts, entertainment, recreation, accommcdation, and food
services...............................................................................................
Arts, entertainment, and recreation..............................................
3.8
0.9
3.8
1.0
3.9
1.0
77
Performing arts, spectator sports, museums, and related
activities...............................................................................................
Am usem ents, gambling, and recreation indu stries.......................
0.5
0.4
0.5
0.4
0.6
0.4
53
54
55
60
61
62
63
64
68
69
/O
71
12
/3
74
75
76
/8
Accommodation and food services..............................................
2.8
2.9
2.9
/y
8(1
A ccom m odation.....................................................................................
Food services and drinking p la c e s ...................................................
0.7
2.1
0.7
2.1
0.8
2.1
81
Other services, except government..................................................
2.5
13.6
4.5
2.5
13.2
4.4
4.1
0.4
4.0
0.3
34
Wholesale trade..................................................................................
5.5
5.5
5.6
5.7
35
Retail trade...........................................................................................
6.1
6.0
6.0
6.1
82 Government......................................................................................................
36
37
38
39
40
41
42
43
44
Transportation and warehousing..................................................
2.8
2.9
3.0
3.0
Federal......................................................................................................
A ir transportation....................................................................................
Rail transportation
W ater transportation
Truck transportation...............................................................................
Transit and ground passenger transportation.................................
Pipeline trans portation.........................................................................
O ther transportation and support activ ities.....................................
W arehousing and sto ra g e ...................................................................
0.4
0.2
0.1
0.8
0.2
0.1
0.7
0.3
0.5
0.2
0.1
0.8
0.2
0.1
0.7
0.3
0.5
0.2
0.1
0.8
0.2
0.1
0.7
0.3
83
84
8b
2.5
13.7
4.4
General governm ent
G overnm ent ente rp rise s..........................................................................
4.0
0.4
86
87
88
State and local......
45
46
47
48
49
Information..........................................................................................
4.3
4.2
4.3
Publishing industries (includes softw are)........................................
Motion picture and sound recording in d u strie s..............................
Broadcasting and telecom m unica tions............................................
Inform ation and data processing s e rv ic e s ......................................
0.9
0.4
2.4
0.5
1.0
0.4
2.3
0.5
1.0
0.4
2.4
0.5
General gove rnm ent..................................................................................
G overnm ent e n te rp rise s..........................................................................
9.3
9.1
8.9
8.6
0.7
8.4
0.7
8.2
0.7
17.5
68.8
4.2
17.7
68.8
4.4
18.1
68.7
4.3
2012
20.2
7.9
12.3
12.4
7.6
1.9
3.0
8.6
1.1
7.4
4.0
1.0
3.0
2.4
12.9
4.3
8.7
89 NIPA reconciliation item 1............................................................................
Addenda:
4.4
1. The NIPA reconciliation item shows the differences between the Annual Industry Accounts (AlAs) and the National
Income and Product Accounts (NIPAs) that result from the incorporation of source data in the AlAs that were not available
to be incorporated in the NIPAs. These differences do not indicate future revisions to the NIPAs, which will reflect the incor
poration of additional key source data.
2. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
2010
21.1
7.8
65
66
67
5.5
2009
Finance, insurance, real estate, rental, and leasing......................
Finance and insurance.....................................................................
50
51
52
90
91
92
93
94
95
Gross dom estic product, N IP A s..................................................................
Less: Value added, all in d u strie s................................................................
NIPA reconciliation ite m 1..............................................................................
Private goods-producing industries 2.........................................................
Private services-producing in d u s trie s 3.....................................................
Inform ation-com m unications-technology-producing industries 4.......
18.4
68.7
4.4
3. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance,
real estate, rental, and leasing; professional and business services; educational services, health care, and social assis
tance; arts, entertainment, recreation, accommodation, and food services; and other services, except government.
4. Consists of computer and electronic products; publishing industries (includes software); information and data
processing services; and computer systems design and related services.
42
Annual Industry Accounts
May 2013
Table 9. Real Value Added by Industry, 2009-2012
[Billions of chained (2005) dollars]
Line
2009
Gross domestic product.........................................
Private industries...........................................................
Agriculture, forestry, fishing, and hunting.................
Farms......................................................................
Forestry, fishing, and related activities.......................
Mining.........................................................................
Oil and gas extraction...............................................
Mining, except oil and gas.........................................
Support activities for mining......................................
Utilities.......................................................................
Construction...............................................................
Manufacturing.............................................................
Durable goods..........................................................
Wood products.....................................................
Nonmetallic mineral products................................
Primary metals.....................................................
Fabricated metal products.....................................
Machinery............................................................
Computer and electronic products.........................
Electrical equipment, appliances, and components,
Motor vehicles, bodies and trailers, and parts........
Other transportation equipment.............................
Furniture and related products...............................
Miscellaneous manufacturing................................
Nondurable goods....................................................
Food and beverage and tobacco products.............
Textile mills and textile product mills.......................
Apparel and leather and allied products.................
Paper products.....................................................
Printing and related support activities....................
Petroleum and coal products.................................
Chemical products...............................................
Plastics and rubber products.................................
Wholesale trade..........................................................
Retail trade..................................................................
Transportation and warehousing...............................
Air transportation......................................................
Rail transportation....................................................
Water transportation..................................................
Truck transportation...................................................
Transit and ground passenger transportation.............
Pipeline transportation..............................................
Other transportation and support activities................
Warehousing and storage.........................................
Information..................................................................
Publishing industries (includes software)...................
Motion picture and sound recording industries..........
Broadcasting and telecommunications.......................
Information and data processing services..................
2010
2011
2012
12.757.9 13,063.0 13,299.1 13.593.2
11.026.9 11,326.9 11,557.0 11.887.2
145.5
141.4
111.7
28.8
122.1
91.9
29.9
117.6
117.5
27.2
243.3
258.2
234.5
234.6
214.1
29.3
27.9
171.3
29.0
35.8
164.1
28.8
41.5
203.8
224.5
230.3
232.3
456.3
450.9
449.5
463.7
1,447.1
1,546.8
1,585.6
1.683.7
800.5
27.3
27.7
43.1
90.6
93.1
303.8
35.9
23.6
81.4
20.5
78.2
640.4
185.6
16.8
11.7
46.9
31.2
107.0
185.0
54.7
906.6
29.3
28.4
39.7
99.2
106.1
357.6
35.7
64.9
80.2
21.4
78.3
643.0
195.2
17.7
11.8
40.6
31.4
103.7
185.4
56.5
968.2
32.9
30.1
40.1
105.1
120.2
361.6
40.1
84.8
85.5
22.7
75.7
629.7
192.6
15.8
11.6
40.4
33.3
95.7
184.4
56.4
1.056.7
675.3
698.1
719.0
753.4
793.6
849.0
850.3
882.5
352.4
375.9
393.8
399.1
52.1
23.3
21.4
106.4
23.1
10.1
80.4
38.7
56.4
23.7
20.2
115.6
22.8
12.0
87.1
40.4
56.9
24.9
25.4
120.4
22.2
14.4
90.1
43.7
615.7
635.2
672.8
126.2
52.8
359.5
79.1
139.3
54.4
360.3
82.5
144.2
55.3
389.3
85.8
648.3
711.6
1. Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The value of the
“Not allocated by industry” line reflects the difference between the first line and the sum of the most detailed lines, as well
as the differences in source data used to estimate GDP by industry and the expenditures measure of real GDP.
2. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
Line
2009
2010
2011
2012
Finance, insurance, real estate, rental, and leasing..............
Finance and insurance..............................................................
2.744.5
1.060.5
2.755.8
1.037.3
2,764.9
1.030.8
2,823.0
1,067.6
Federal Reserve banks, credit interm ediation, and related
a ctivities.......................................................................................
Securities, com m odity contracts, and investm ents..............
Insurance carriers and related activ itie s.................................
Funds, trusts, and other financial vehicles..............................
506.3
163.6
368.9
25.6
485.6
173.4
355.6
26.6
480.9
162.8
358.6
31.5
Real estate and rental and leasing..................................
1.684.9
1.718.9
1.734.8
Real e s ta te ..............................................................................
Rental and leasing services and lessors of intangible
a s s e ts ...................................................................................
1.511.9
1.545.4
1.554.4
173.0
173.5
180.4
Professional and business services.
Professional, scientific, and technical services........
1.516.3
931.2
1.549.1
955.6
1.623.8
1.006.8
Legal s e rv ic e s ......................................................................
Com puter system s design and related servic es.........
M iscellaneous professional, scientific, and technical
se rv ic e s .............................................................................
162.3
176.4
158.8
190.1
156.1
207.1
597.1
613.6
653.5
222.0
210.4
408.9
Management of companies and enterprises....................
Administrative and waste management services............
362.7
211.4
382.7
Adm inistrative and support servic es......................................
Waste m anagem ent and rem ediation s e rv ic e s ..................
325.5
37.1
342.6
40.0
368.4
40.6
Educational services, health care, and social assistance.
Educational services..............................................................
Health care and social assistance..............................
1.068.5
129.5
939.2
1,082.0
127.1
955.5
1.100.3
128.6
972.5
Am bulatory health care s e rv ic e s ...................................
H ospitals and nursing and residential care facilities.
Social assistance................................................................
458.5
399.4
81.3
478.3
394.2
83.4
488.0
402.3
82.6
Arts, entertainment, recreation, accommodation, and food
services........................................................................................
Arts, entertainment, and recreation......................................
456.5
117.5
485.9
124.8
512.1
131.7
Performing arts, spectator sports, museums, and related
activities......................................................................................
Am usem ents, gambling, and recreation indu stries..............
65.9
51.6
68.4
56.3
71.8
59.8
Accommodation and food services......................................
339.1
361.3
380.5
A ccom m odation.............................................................................
Food services and drinking p la c e s ..........................................
94.2
244.4
104.1
257.2
113.6
267.4
Other services, except government...........................................
Government...............
Federal...................
291.8
1.648.4
533.6
294.0
1,658.7
548.9
297.7
1.646.5
547.5
General gove rnm ent.........................................................................
G overnm ent enterprises
486.0
48.1
503.8
45.9
507.8
40.9
State and local................................................................................
1.115.0
1.099.4
G eneral gove rnm ent.........................................................................
G overnm ent ente rp rise s..................................................................
1,036.7
78.1
1.110.2
1.029.5
80.4
Not allocated by industry 1..............................................................
Addenda:
Private goods-producing industries 2 ...............................................
Private services-producing industries 3............................................
Inform ation-com m unications-technology-producing industries 4
1,755.4
1,653.4
1,018.8
217.9
418.6
1,104.8
128.9
976.7
530.1
136.0
394.2
298.2
1,640.9
544.6
1,096.7
1,017.7
81.5
40.6
26.9
27.5
2,310.2
8.718.1
671.6
2.377.6
8.950.7
748.1
2,391.9
9,166.3
780.3
2,504.5
9,383.8
831.2
3. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance,
real estate, rental, and leasing; professional and business services; educational services, health care, and social assis
tance; arts, entertainment, recreation, accommodation, and food services; and other services, except government.
4. Consists of computer and electronic products; publishing industries (includes software); information and data
processing services; and computer systems design and related services.
Available online!
wbush
In This Issue . . .
NIPA Translation of the Fiscal Year 2011 Federal Budget
Preview of the 2010 Comprehensive Revision
of the Annual Industry Accounts
S3 B E A
TheonlineSurvey gf Current Business fe
■Themost recent articles
■Linkstointeractivetables andcharts
■Searchbydatefor past issues
■Keywordsearch
www.bea.
44
■
M ay 2 0 1 3
b e a
M o d e rn iz in g
a n d
E n h a n cin g
B E A ’s
In te rn a tio n a l
E c o n o m ic A c c o u n ts
A Progress Report and Plans for Implementation
B y K r is t y L . H o w e ll a n d K y le L . W e s t m o r e la n d
I N 2009, the International Monetary Fund (IMF)
released updated statistical standards for compiling
balance of payments and international investment po
sition (IIP) statistics. The sixth edition of the IMF’s
(NIPAs) that is more consistent with SNA 2008. In ad
dition, a new treatment of disaster-related insurance
settlements that recognizes the distinctions between
current transfers and capital transfers was incorpo
Balance o f Payments and International Investment Posi rated into both the NIPAs and the international trans
tion M anual ( BPM6 ) was developed in coordination actions accounts (ITAs).2 In July 2013, BEA will
with the System o f National Accounts 2008 (SNA 2008), incorporate additional changes reflecting the updated
the statistical standards for compiling national eco guidelines for national accounts into the NIPAs as part
nomic accounts, in order to promote statistical inte of the 14thcomprehensive revision of the NIPAs. Major
gration within and across countries and to ensure that revisions to be introduced into the NIPAs include the
economic statistics remain relevant and informative.1 recognition of research and development (R&D) ex
The introduction of these new international standards penditures as fixed investment and the use of the achas provided an opportunity for the Bureau of Eco crual-based approach to measure defined benefit
nomic Analysis (BEA) to make changes to its economic pension plans.3
accounts to increase the overall quality and usefulness
Several improvements relating to the new interna
of the accounts.
tional standards for the international accounts have
Some recommendations of the new international been introduced into the ITAs and the IIP accounts as
guidelines have already been incorporated into the U.S. part of a multiyear effort to modernize and enhance
economic accounts. In 2009, BEA introduced a new the U.S. international accounts. One of the most sig
classification system for personal consumption expen nificant changes was the introduction of quarterly IIP
ditures in the national income and product accounts statistics in March 2013 (see “Quarterly International
1. Balance of Payments and International Investment Position Manual, 6th 2. The U.S. international transactions accounts are alsoknownas the U.S.
ed. (Washington, DC: International MonetaryFund, 2009).
balance ofpayments accounts.
European Commission, International Monetary Fund, Organisation for
3. See “Preview of the 2013 Comprehensive Revision of the National
Economic Co-operation and Development, United Nations, and World Income and Product Accounts: Changes in Definitions and Presentations,”
Bank, System of National Accounts 2008 (NewYork: UnitedNations, 2009). Survey of C urrent B usiness 93 (March 2013): 13-39.
Quarterly International Investment Position
On March 26, 2013, BEA released quarterly international tions from December 2005 to December 2012. These
investment position (IIP) statistics for the first time. Pre data contain the same account components as the cur
viously, BEA had released only annual IIP statistics each rently published annual IIP statistics and are fully consis
June. The new quarterly IIP statistics complement the tent with the currently published ITAs. The quarterly IIP
annual statistics and provide more frequent and more statistics will provide only position data, unlike the more
timely information on the U.S. external position. These detailed annual IIP statistics, which also include transac
statistics also satisfy the new statistical guidelines from tions and detailed valuation adjustments. Every June, the
the IMF Executive Board, which prescribe quarterly IIP quarterly data will be part of a broader release that also
reporting for members participating in its Special Data includes revised annual IIP statistics and changes in valu
ation, including revised annual and quarterly statistics
Dissemination Standard.
The first release included data on end-of-quarter posi for previous periods.
May 2013
S urvey
of
C urren t B
Investment Position”). BEA is working with its source
data providers to develop the information needed to
implement the new standards. For example, BEA has
worked closely with the U.S. Department of the Trea
sury to implement an accelerated collection of data on
financial derivatives, which is necessary for the timely
release of the quarterly IIP statistics. In June 2014, BEA
will implement many of the remaining recommenda
tions and will introduce changes to its standard pre
sentation of the ITAs and the IIP accounts.
This article is the fourth in a series that has provided
updates on BEA’s progress towards modernizing and
enhancing the U.S. international economic accounts.
The first, published in the May 2010 Survey of Current
Business, summarized the new international standards
and provided an overview of BEA’s implementation
strategy.4 Updates in May 2011 and May 2012 reported
on BEA’s progress towards implementation and pre
sented prototypes for several key tables.5 This article
previews changes that will be made as part of the June
2013 annual revisions of the ITAs and the IIP accounts,
outlines presentation and other changes planned for
June 2014, describes longer term efforts to implement
more complex changes in definitions and methodolo
gies, and provides further information on BEA’s plans
for implementation in 2014. The article also presents
prototypes for ITA tables that BEA is developing as
part of the new standard presentation of the accounts.
P rog ress R eport
C h a n g e s s c h e d u le d fo r J u n e 2 0 1 3
This section describes changes in definitions, classifi
cations, and methodology that are scheduled to be in
troduced in the ITAs and the IIP accounts with the
upcoming June 2013 annual revision.
Reclassify and adjust reporting of certain military
transactions in goods and services. To align BEA’s
trade in goods and services statistics with international
standards and to improve the comparability of statis
tics for trade and production, BEA has previously re
classified certain transactions from trade in services to
trade in goods. Historically, BEA classified exports and
imports of military-related goods on a transactor basis
in the services account. Therefore, exports of goods
under the U.S. Foreign Military Sales (FMS) program
were classified as services under “transfers under U.S.
4. KristyL. Howell and Robert E. Yuskavage, “Modernizing and Enhanc
ing BEA’s International Economic Accounts: Recent Progress and Future
Directions,”S urvey 90 (May2010): 6-20.
5. Kristy L. Howell and Ned G. Howenstine, “Modernizing and Enhanc
ing BEA’s International Economic Accounts: AProgress Report,” Survey 91
(May 2011): 26-38 and Kristy L. Howell, “Modernizing and Enhancing
BEA’s International Economic Accounts: A Progress Report,” S urvey 92
(May2012): 37-50.
u s in e s s
45
military agency sales contracts,” and military imports
of goods were classified as services under “direct de
fense expenditures.” With the 2010 annual revision of
the ITAs, exports of goods related to the FMS program
and petroleum purchases abroad by the U.S. military
were reclassified from services to goods. However,
some goods remain classified in services because they
are commingled in BEA’s source data.
With the 2013 annual revision, BEA plans to refine
further the separation of goods and services by incor
porating an improved classification of exports related
to the FMS program and by reclassifying military im
ports of major equipment and nonpetroleum goods
from the services account to the goods account. Begin
ning with statistics for 2007, exports under the FMS
program will be classified as goods or services using a
more accurate, item-specific classification of the data
from the U.S. Department of Defense (DOD). As a re
sult, exports of goods under the FMS program that
have remained in the services account in “transfers un
der U.S. military agency sales contracts” will be moved
to the goods account in “exports, n.e.c.” (not elsewhere
classified), and certain services transactions that had
previously been classified as goods will be reclassified
to the services account. Military purchases of major
equipment and nonpetroleum goods by DOD will be
reclassified to the goods account in “imports, n.e.c.,”
beginning with statistics for 1999. Imports, n.e.c. and
exports, n.e.c. will be renamed “other goods” under
the new presentation. This name change is reflected in
the prototype tables presented later in this article.6
A related outcome of the research undertaken to im
prove the classification of military imports is that BEA
determined that a balance of payments adjustment
that had been used to deduct imports of military goods
from U.S. Census Bureau data to avoid double-count
ing with the imports reported in the DOD data is no
longer necessary. After reexamining the source data,
BEA determined that as a result of definitional changes
since the original methodology was implemented, the
two data sources no longer overlap. These reclassifica
tions and the change to the adjustment for military
imports are reflected in the prototype tables presented
at the end of this article.7
Improve the estimates of expenditures by border,
seasonal, and other short-term workers. BEA will im
plement an improved methodology for estimating ex
penditures by short-term workers employed outside
their countries of residence that is more rigorous and
6. See for example, table 1, lines 10 and44.
7. BEAismaintainingasupplemental presentationthat shows transfers of
total goods andservices under the FMS programanddirect defense expen
ditures on goods and services to assist customers who use these series to
obtaina complete picture ofthe contribution ofthe U.S. militaryto trade.
Modernizing and Enhancing BEA’s International Economic Accounts
46
uses higher quality source data. Currently, these ex
penditures are estimated as a fixed percentage of com
pensation based on historical studies. Baseline
expenditures for short-term seasonal workers and for
eign professionals will now be derived from the U.S.
Department of Labor’s Consumer Expenditure Survey.
This survey provides detailed statistics on expenditures
by income group that BEA will use to calculate average
expenditures as a percentage of compensation for each
income group. BEA will use the percentages for the
compensation levels of seasonal agricultural and non
agricultural workers, border workers, and foreign pro
fessionals working less than a year in the United States
to calculate baseline estimates for the expenditures of
these workers. These baseline estimates will be refined
using information from the Department of Labor’s
National Agricultural Workers Survey (NAWS), H-4
visa statistics from the U.S. State Department, and
other studies. The NAWS provides employment and
migration profiles for seasonal farm workers that BEA
will use to estimate expenditures by seasonal agricul
tural and nonagricultural workers. The H -4 visa statis
tics will be used to adjust the baseline estimate for
expenditures by foreign professionals (such as engi
neers, doctors, and computer programmers) who visit
the United States to perform high-skilled work. Expen
ditures by U.S. residents employed abroad for less than
a year will be estimated using the same expenditure
share of compensation calculated for foreign profes
sionals working in the United States. This method
ological change is not reflected in the prototype tables
presented at the end of this article.
International
The Bureau of Economic Analysis (BEA) continues its
commitment to international cooperation by participat
ing in committees organized by various international
organizations to improve the reporting of international
economic statistics. For example, BEA participates in the
International Monetary Fund’s Balance of Payments
Committee and the United Nations Interagency Task
Force on Statistics of International Trade in Services.
These international institutions are responsible for pro
ducing standards for international economic accounts,
including the Balance o f Payments and International
Investment Position Manual and the Manual on Statistics
M ay 2 0 1 3
Incorporate new estimates for fines and penalties.
BEA will introduce estimates of cross-border fines and
penalties in the “unilateral current transfers” account
of the ITAs, beginning with statistics for 1999. The es
timates use publicly available information— including
court documents, press releases, and news reports— to
identify cross-border transfers associated with U.S. and
foreign government fines related to anti-trust viola
tions and U.S. government fines related to bribery. The
estimates will also include cross-border transfers asso
ciated with private class action lawsuits related to anti
trust violations. On average, the impact on transfers
will be small, but the new estimates close a gap in the
ITAs and in general, will reduce the statistical discrep
ancy for historical periods. In the new presentation of
the ITAs, “unilateral current transfers” will be renamed
“secondary income” and will be shown on a gross basis
rather than on a net basis. This change in presentation
is reflected in the prototype tables at the end of this ar
ticle, but the new estimates of fines and penalties are
not.8
Incorporate new source data from the Treasury
Department. BEA recently began receiving new
monthly data on cross-border holdings of U.S. and
foreign long-term securities collected by the Treasury
Department on its Treasury International Capital
(TIC) form Aggregate Holdings of Long-Term Securi
ties by U.S. and Foreign Residents (SLT). The SLT sur
veys U.S. custodians, issuers of U.S. securities, and U.S.
end-investors for cross-border holdings of U.S. and
foreign equity and long-term debt securities by
8. Seetable 1, lines 34 and66.
Cooperation
o f International Trade in Services 2010} The Balance of
Payments Committee and the Interagency Task Force are
both currently developing compilation guides to assist
nations in their efforts to implement the new guidelines
introduced in the latest updates of these manuals, and
BEA has reviewed and contributed content to the guides
to both manuals.
1. United Nations, International Monetary Fund, Organisation for
Economic Co-operation and Development, Statistical Office of the
European Union, United Nations Conference on Trade and Develop
ment, World Tourism Organization, and World Trade Organization,
Manual onStatistics ofInternational Trade inServices 2010 (NewYork:
UnitedNations, 2011).
May 2013
S urvey
of
C urren t B
country. With the June 2013 annual revisions of the
ITAs and the IIP, the new source data will be incorpo
rated, beginning with statistics for 2012. The new data
will improve quarterly IIP estimates for long-term se
curities that BEA currently projects using transactions
data and price changes. The new source data also pro
vide new information that will allow BEA to improve
its coverage of financial flows.
Changes planned for June 2014
In June 2014, BEA will introduce changes to its stan
dard table presentations and related data tables. BEA
will also introduce changes in definitions and classifi
cations that could have been introduced earlier but
that required a change in presentation. BEA has de
cided to introduce major changes in presentation at
one time to minimize disruptions for users and so that
they can be introduced on a consistent time series ba
sis. This section gives an overview of these planned
changes in presentation and provides an update on
changes in definitions, classifications, and methodolo
gies that will be introduced in June 2014.
Changes in presentation
BEA first introduced plans to bring its standard pre
sentations of the international accounts into closer
alignment with the presentation recommended by the
BPM6 in the May 2010 article in this series. That article
described in detail the characteristics of the BPM6 pre
sentation that represent major changes from BEA’s
standard presentation of the accounts and introduced
prototype tables that presented the accounts as they
will appear in the new presentation.9
The new presentation reflects significant changes to
the presentation of the financial account and the IIP
accounts. Financial account transactions and positions
in the IIP accounts are classified according to five func
tional categories— direct investment, portfolio invest
ment, other investment, reserve assets, and financial
derivatives and employee stock options— and then ac
cording to the type of instrument. Investment income
in the current account is also classified by functional
category.
The new presentation also introduces additional de
tail on portfolio investment and other investment by
sector. The BPM6 defines four main sectors— central
bank, deposit-taking corporations except the central
bank, general government, and “other sectors,” which
includes the two subsectors “other financial corpora
tions” and “nonfinancial corporations, households,
and nonprofit institutions serving households
u s in e s s
47
(NPISHs).” BEA has eliminated the summary category
“other sectors” and presents the two subsectors in its
place. Two basic changes to the names in the new pre
sentation will be made. First, the term “corporations”
is replaced with the term “institutions” in order to in
clude enterprises such as partnerships that belong in
this category but that are not organized as publicly
held corporations. Second, because BEA has little
source data on the international transactions of house
holds and NPISHs directly with foreigners, BEA uses
the label “nonfinancial institutions” without house
holds and NPISHs.
The new SLT data from the Treasury Department
provide detailed information that will allow BEA to
present portfolio investment by type of instrument
and by U.S. sector. Investment fund shares are identi
fied at the aggregate level, which allows dividend in
come and financial flows attributable to investment
fund shares to be distinguished from other equity. The
SLT also provides new instrument detail on state and
local government securities that can be used to identify
financial flows for municipal bonds. Expanded infor
mation on the sector of the U.S. holder of foreign secu
rities and the U.S. issuer of U.S. securities allows BEA
to attribute financial flows and income to deposit-taking institutions, other financial institutions, nonfinan
cial institutions, and general government. This new
instrument and sector detail for income and financial
flows available from the SLT is presented in the proto
type tables shown at the end of this article.10
Changes in definitions, classifications, and m eth
odologies
This section provides an update on two additional
changes that BEA plans to introduce in June 2014 that
are related to changes in presentation but also involve
changes in definitions, classifications, and methodolo
gies.
Improve methodology for travel statistics. BEA
currently estimates cross-border travel expenditures by
multiplying the number of travelers by an estimate of
average travel expenditures. Although this methodol
ogy is fundamentally sound, some limitations of the
source data have raised questions about the precision
of the statistics. Over the last few years, BEA has exam
ined several alternatives to this approach, including a
survey of credit, debit, and charge card issuers to esti
mate travel expenditures and a onetime survey of in
ternational travelers to determine spending by method
of payment. Each alternative has a set of limitations.
--------------------10. Seefor example, table 6, lines A3 andB3. Detail that was not available
9. For more information, see the section “Major differences” in Howell until the introduction of the SLTdata is denoted “n.a.” (not available) for
andYuskavage, 14-16.
years before 2011.
48
Modernizing and Enhancing BEA’s International Economic Accounts
Therefore, BEA now plans to develop improved esti
mates of average expenditures using a combination of
information from (1) the Survey of International Air
Travelers administered by the U.S. Department of
Commerce International Trade Administration, (2) an
improved survey of credit, debit, and charge card issu
ers conducted by BEA, and (3) other sources of infor
mation on travel expenditures. These sources may also
allow business travel expenditures to be distinguished
from personal travel expenditures.
The definition of travel in the BPM6 is broader than
the definition of travel currently used by BEA. The
BPM6 definition includes health-related travel and ed
ucation-related travel and encompasses expenditures
on goods and services by border, seasonal, and other
short-term workers. These transactions, which are cur
rently included in the services account under “other”
private services, will be reclassified to travel in the new
presentation. These changes in presentation are illus
trated in the prototype tables at the end of this article.11
In preparation for introducing this broader defini
tion of travel, BEA is improving the methodology for
estimating two of the components. The methodology
for estimating expenditures by border, seasonal, and
other short-term workers will be revised in June 2013,
and an improved methodology for estimating healthrelated travel will be implemented in June 2014. BEA
uses a model-based approach to measure health-related travel (or medical services), which covers medical
treatment provided to foreigners who travel to the
United States for treatment (exports) and medical
treatment provided to U.S. residents who travel abroad
for treatment (imports). Medical services are currently
classified under “business, professional, and technical
services.” BEA is evaluating several potential sources of
information on medical services to update its estima
tion methodology.
Reclassify merchanting transactions from services
to goods. U.S. exports of merchanting are the purchase
and subsequent resale of goods abroad without sub
stantial transformation and without the goods enter
ing or exiting the United States. BEA currently
measures merchanting as the margin between proceeds
from the sale and the cost of acquiring the goods sold
and records it in the services account. The BPM6 rec
ommends classifying merchanting as a component of
trade in goods under the new category “net exports of
goods under merchanting.” BEA currently collects net
receipts from merchanting on its surveys of selected
services. In 2014, the net receipts from merchanting
11. See fo r exa m p le , ta b le 3, lin e s 1 5 -2 2 a n d 6 6 -7 3 .
M ay 2 0 1 3
will be reclassified from services to the new merchant
ing category under goods. This change is reflected in
the prototype tables introduced at the end of this arti
cle.12
Longer term research
While the changes that will be introduced by June 2014
will bring BEA into close alignment with the BPM6,
additional methodological work and data sources will
be required for some accounts. New or more detailed
source data will be required to fully meet the BPM6
guidelines for some accounts. In the prototype tables,
these accounts are denoted “n.a.” (not available) and
include items such as “manufacturing services on
physical inputs owned by others” (goods for process
ing).13 Other accounts, such as “charges for the use of
intellectual property,” are shown in the prototype ta
bles using statistics based on existing definitions be
cause it is not yet possible to adjust the accounts to
match the BPM6 definitions and concepts. This section
provides an update on research being conducted at
BEA to determine the feasibility of implementing sev
eral major changes in definitions and methodologies
that remain outstanding. These and other improve
ments that BEA may identify in the future will be con
sidered for implementation in a future annual revision.
For some of these changes, it is not certain whether
implementation will prove feasible.
12. See for example, table 1, line 11.
13. See for example, table 1, lines 14 and47.
Acknow ledgm ents
BEA’s International Economic Accounts Moderniza
tion and Enhancement Steering Committee contrib
uted significantly to this article. Steering committee
members include Sarahelen Thompson, Associate
Director for International Economics, Paul W. Farello,
Chief of the Balance of Payments Division (BPD),
Maria Borga (chair), Assistant BPD Chief for Research
and Analysis, Christopher A. Gohrband, Chief of
BPD’s Private Capital Branch, Daniel R. Yorgason,
Chief of BPD’s Methodology and Special Studies
Branch, and Kristy L. Howell, Chief of BPD’s Mer
chandise Trade Branch. Other staff who contributed
to the article include Christopher L. Bach, Barbara H.
Berman, Anne Flatness, Chi Hoang, Elena L. Nguyen,
Douglas B. Weinberg, Cavan J. Wilk, and Erin M.
Whitaker.
May 2013
S urvey
of
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Introduce financial intermediation services indi
rectly measured (FISIM). FISIM captures the fees im
plicitly received by financial intermediaries for their
lending and deposit-taking services through the mar
gin between interest payable for loans and deposits and
a reference rate that represents the cost of funds. BEA
continues to evaluate methods for estimating FISIM in
the international accounts by incorporating FISIM ex
ports already estimated in the NIPAs and by creating
estimates of FISIM imports from data on U.S. loans
from, and U.S. deposits placed with, banks abroad. FI
SIM estimates for the ITAs will result in changes to the
BEA estimation methodology for income payments
and receipts in the ITAs so that the implicit service and
pure interest components sum to the estimated nomi
nal interest flows. BEA plans to introduce FISIM into
the international accounts in 2015 or later so that the
new methodology can be informed by forthcoming
guidance from a panel of international experts on sev
eral outstanding measurement issues.14 In the proto
type tables, “FISIM” is denoted “n.a.”15
Reclassify transactions related to intellectual
property. The new international standards recognize
expenditures on research and development (R&D) and
on artistic originals as investment.16 Under the new
guidelines, transactions for the rights to use intellec
tual property, the rights to reproduce or distribute in
tellectual property, and outright sales and purchases of
intellectual property should be identified and treated
differently in the international accounts. Rights to re
produce or distribute intellectual property and some
rights to use intellectual property should be classified
under “charges for the use of intellectual property,” a
services category that replaces “royalties and license
fees.”17 Transactions related to the outright sale of in
tellectual property and certain transactions related to
its use should be reclassified to the respective services
categories.18 For example, outright sales of the out
comes of R&D, such as the outright sale of a patent or a
14. The UnitedNations Statistical Commission’sIntersecretariat Working
Group on the Systemof National Accounts has identified FISIMas an area
of further research and is expected to provide additional guidance on
amongother topics, the selectionofareference rate. For more information,
seeunstats.un.org.
15. See for example, table 3, lines 37 and88.
16. Artistic originals include motion pictures, television and radio pro
grams, musical recordings, andmanuscripts.
Previously, the standards recommended that such intellectual property
should be treated as nonproduced, nonfinancial assets and that the pur
chase or sale of these assets should be recorded in the capital account.
Receipts andpayments for the use ofthese assets shouldhavebeenrecorded
as services under “royalties andlicense fees.”
17. This name change is reflectedinthe prototype tables, but the statistics
arebasedonexistingdefinitions. See for example, table 1, lines 21 and 54.
18. However, the outright sales of marketing assets—such as trademarks,
brands, logos, andfranchises—will still be recordedinthe capital account.
u s in e s s
49
copyright, should be recorded in R&D services, while
the rights to use the outcomes of R&D should be re
corded as charges for the use of intellectual property.
Treating outright sales and purchases of the outcomes
of R&D as trade in R&D services also enables the rec
ommended measurement of domestic R&D invest
ment in the NIPAs, which is defined as domestic R&D
output plus imports of R&D services less exports of
R&D services. Currently, transactions for the use of in
tellectual property and some transactions for the sale
of intellectual property are commingled in BEA’s
source data and are recorded indistinguishably under
“royalties and license fees.”
To determine the feasibility of implementing this
new treatment, BEA added questions related to intel
lectual property to its 2011 Benchmark Survey of
Transactions in Selected Services and Intellectual
Property with Foreign Persons. Companies were asked
to provide their total receipts and total payments for
rights to each of the various types of intellectual prop
erty, such as industrial processes and products, books
and music, and general use computer software. Com
panies were then asked to disaggregate these totals into
three categories as appropriate: rights to use intellec
tual property, rights to reproduce or distribute, and
outright sales and purchases. BEA is in the process of
tabulating these results. However, an initial review of
the data indicates that for the companies that were able
to divide their total receipts and payments into the
three categories, transactions for the rights to use intel
lectual property (and for some types of intellectual
property, rights to reproduce or distribute) were much
more prevalent than outright sales and purchases of
intellectual property. BEA will continue to evaluate the
survey responses to determine if they can be used to al
locate total reported receipts and payments for intel
lectual property across the three categories.
Introduce new financial assets. The BPM6 intro
duces a new class of instruments— “insurance, pen
sion, and standardized guarantee schemes”—which
includes insurance technical reserves (prepayments of
premiums and reserves against outstanding insurance
claims), pension entitlements (the claims of pensioners
on their employers or pension funds), and provisions
for calls under standardized guarantees (prepayments
of net fees and provisions to meet outstanding calls
under standardized loan guarantees). BEA is working
with the Treasury Department to improve the existing
source data for transactions in insurance technical re
serves between U.S. residents and unaffiliated foreign
residents in order to obtain sufficient coverage so that
estimates can be published. Currently, however, the insurance-related transactions cannot be distinguished
50
Modernizing and Enhancing BEA’s International Economic Accounts
from other changes in claims and liabilities reported
on Treasury surveys. It is unlikely that BEA will be able
to estimate transactions related to pension entitle
ments and standardized guarantee schemes because of
insufficient source data. However, because cross-bor
der transactions in pension entitlements and standard
ized guarantees are believed to be negligible, their
omission does not significantly affect the ITAs. In sev
eral of the prototype tables, “insurance, pension, and
standardized guarantee schemes” are either denoted
“n.a.” or include statistics related to insurance only.19
Identify gross goods transactions related to merchanting. In addition to reclassifying merchanting
from trade in services to trade in goods, the BPM6 rec
ommends presenting the gross transactions in goods
associated with merchanting. BEA’s current source
data on trade in goods do not cover the gross transac
tions associated with merchanting, because these
goods do not cross the U.S. customs frontier. To deter
mine the feasibility of collecting information on the
gross transactions, BEA added questions to the 2011
benchmark survey to identify the value of purchases
and subsequent sales of goods under merchanting.
BEA is currently tabulating the information and will
determine if it can be used to estimate gross transac
tions. Currently, these transactions are denoted “n.a.”
in prototype table 2, lines 13 and 14.
Introduce manufacturing services on physical in
puts owned by others (goods for processing). BEA
continues to investigate options for implementing the
new treatment of goods sent abroad for processing
without a change in ownership that is recommended
in the BPM6. Under the BPM6 treatment, goods sent
abroad for processing without a change in ownership
should be excluded from statistics on trade in goods;
the processing fee charged by the manufacturing ser
vices provider should be recorded as trade in services.
In addition, goods sent abroad for processing and sub
sequently sold abroad should be recorded as U.S. ex
ports of goods at the time they are sold, and any inputs
purchased abroad by the U.S. firm and processed
abroad should be recorded as U.S. imports of goods.20
Detailed information on the processing fees received
and paid by U.S. firms for manufacturing services and
on the underlying goods transactions currently either
are not available in the U.S. statistical system or are not
19. Seefor example, table 1, lines 90 and 119, for whichdata are not avail
able, and table 4, lines 19 and 43, for which data currently reflect only
income attributable to insurance policyholders.
20. For more information, see BPM6, chapter 10, “Goods and Services
Account,” section 10.65-10.66. For a discussion of the measurement issues
relatedto goods for processing, see chapter 5, “Goods Sent Abroadfor Pro
cessing,” in Impact of Globalization on National Accounts (NewYork and
Geneva: UnitedNations, 2011).
M ay 2 0 1 3
identifiable in any of the source data. In the absence of
this information, implementing this new standard will
be challenging, a situation faced by many other coun
tries.
Despite these challenges, BEA continues to conduct
research to determine feasible approaches for imple
menting this new treatment. BEA has begun evaluating
information related to goods for processing and manu
facturing services collected on several surveys. To un
derstand the activity of U.S. multinationals with
respect to manufacturing services, BEA added ques
tions on purchases and performance of manufacturing
services to its 2009 Benchmark Survey of U.S. Direct
Investment Abroad. The questions were added to iden
tify a group of firms engaged in manufacturing ser
vices that could be used either as a sample frame for a
special survey or as a way to identify firms engaged in
manufacturing services that could be examined
through a data link project with the Census Bureau. In
addition, BEA is in the process of tabulating data col
lected on its 2011 benchmark survey to determine
whether respondents can identify the costs of the man
ufacturing services they provided or purchased as well
as the destination of the goods after processing.21
To determine the feasibility of adjusting the mer
chandise trade statistics to remove goods that cross the
border without a change in ownership, BEA is also
continuing to work with the Census Bureau to explore
options for identifying the merchandise trade transac
tions of U.S. firms that purchase manufacturing
services from overseas contractors or that provide
manufacturing services to foreigners. The Census Bu
reau has also added special inquiries to the 2012 Eco
nomic Census (1) to collect information at the
establishment level to identify “factoryless goods pro
ducers,” which are defined as business units that con
trol the entire manufacturing process but that
21. For example, for goods processed in the United States, respondents
are asked if the goods remain in the United States after processing, if the
goods are exportedfromthe UnitedStates, ifsome ofthe goods remainand
some are exported, or ifthe destinationofgoods isunknownto the respon
dent.
Feedback on Planned Changes
Customers can find the latest updates and other back
ground information on the modernization efforts
on BEA’s Web site at www.bea.gov/international/
modern.htm. BEA encourages its customers to look
closely at the proposed changes and to provide com
ments and suggestions to help guide its efforts. Com
ments can be sent to internationalaccounts@bea.gov.
May 2013
S urvey
of
C u r r e n t B u s in e s s
outsource all manufacturing transformation activities,
and (2) to assess whether sufficient data can be col
lected on the value of the manufacturing services and
associated revenue on sales of goods produced by man
ufacturing services providers.22A change in the treat
ment of goods for processing would also have
important implications for BEA’s national and indus
try accounts. The treatment of goods for processing is
closely connected with an ongoing effort by U.S. statis
tical agencies to improve the industry classification of
factoryless goods producers in the U.S. economic sta
tistics. Because of these implications, BEA is taking a
coordinated approach to ensure that changes are made
consistently throughout the economic accounts and
throughout the U.S. statistical system.23
51
icantly changed from those presented in last year’s arti
cle are discussed below, along with two new tables that
are being introduced in this article that provide infor
mation supplemental to the “core” tables presented in
previous articles, including more detailed information
on one or more of the accounts.
International transactions accounts (table 1). The
structure of this prototype ITA table has been revised
to define more clearly the balances derived from the
accounts and to bring the presentation into closer
alignment with the U.S. national accounts. “Net errors
and omissions” are renamed “statistical discrepancy,”
returning to current practice. In addition, the balance
“net financial flows”— calculated as the difference be
tween the acquisition of assets and the incurrence of li
abilities— has been renamed “net lending or
P r o t o t y p e T a b le s
borrowing derived from the financial account.”25 A
The current set of prototype tables presents annual sta second measure of net lending or borrowing, “net
tistics for 2006-2011 that are based on statistics pub lending or borrowing derived from the current ac
lished in the June 2012 annual revision of the ITAs. count and capital account,” is now presented. This al
These tables present the accounts according to the lows the statistical discrepancy to be derived as the
standard components introduced by the IMF in the difference between the two measures of net lending or
BPM6 and thus represent what BEA’s new presentation borrowing.
would look like if all changes were implemented.
Primary income (tables 4 and 4.1). The prototype
Whenever possible, adjustments based on current data table for primary income, table 4, has been reformat
have been made to existing statistics to align them with ted, and some instrument detail has been added as a
the definitions and classifications recommended by the result of the introduction of the SLT data. In particular,
new standards. For some accounts with data cells de dividend income attributable to investment fund
noted “n.a.”, the required source data are not currently shares is now available, beginning with statistics for
available or transactions included in existing accounts 2011. A new supplemental primary income table, table
cannot be separately identified. When the new presen 4.1, provides additional information on income by sec
tation is introduced in 2014, the items that remain un tor within two of the functional categories of invest
available will not be presented.
ment— portfolio investment and other investment.
The main ITA table (table 1) summarizes the cur Sector breakdowns for dividend and interest income
rent account, capital account and financial account. attributable to deposit-taking institutions, other finan
Additional detail tables provide information on trade cial institutions, nonfinancial institutions, and general
in goods (table 2), trade in services (table 3), primary government are available for both receipts and pay
income (table 4), direct investment (table 5), portfolio ments, beginning with statistics for 2011. Interest in
investment (table 6), other investment (table 7), and come on banks’ own claims and liabilities are included
transactions with foreign official institutions (table 8). under deposit-taking institutions and interest income
The structures of prototype tables 2, 3, and 5 have not on banks’ customer claims and liabilities are included
changed from those in last year’s article; these tables under nonfinancial institutions.
will replace the current ITA tables 2, 3, and 7 when the
Portfolio investment (table 6). The structure of the
new presentation is introduced.24 Tables that are signif prototype table for portfolio investment has been
changed; it now incorporates new information from
22. For more information, see Fariha Kamal, Brent R. Moulton, and Jen
nifer Ribarsky, “Measuring ‘Factoryless’ Manufacturing: Evidence from the SLT, beginning with statistics for 2011. The sum
U.S. Surveys,”presentedat the conference “Measuringthe Effects ofGlobal mary category “other sectors” was removed, and “non
ization,”Washington, DC, February28-March 1, 2013.
23. For more information, see “Economic Classification Policy Commit financial institutions” was renamed to exclude general
tee (ECPC) Recommendation for Classification of Outsourcing in North
American Classification System (NAICS) Revisions for 2012” at
25. Under the BPM6, “net lending or borrowing derived fromthe finan
www.bea.gov.
cial account” takes the opposite sign of “net financial flows” that is cur
24. For the current, official presentation of the ITAs, see for example, rentlypublished inthe ITAs. Net lending will be positive whenever the net
tables 1-12 in Sarah R Scott, “U .S . International Transactions Accounts: acquisitionoffinancial assets exceeds thenet incurrence ofliabilities, asitu
Fourth Quarter andYear 2012,”Survey 93 (April 2012): 38-63.
ationthat currentlyresults innegative net financial flows.
52
Modernizing and Enhancing BEA’s International Economic Accounts
government. The table now shows instrument detail
for investment fund shares and state and local govern
ment securities in part A and complete sector detail in
part B. The general government sector now includes
transactions for municipal bonds.
Other investment (tables 7 and 7.1). The prototype
table for other investment, table 7, has been reformat
ted, but the content remains the same. “Other sectors”
has been relabeled “other financial institutions and
nonfinancial institutions, except general government.”
A new supplemental table presenting data for other in
vestment, table 7.1, provides additional detail for each
sector by instrument, by type of institution, and by
currency, similar to data presented in current ITA ta
bles 9, 10, and 11. The table now provides a more com
prehensive view of financial intermediation by banks
and other sectors. Table 7.1 also identifies interbank
activity for the deposit-taking sector and presents re
sale and repurchase agreements as a component of de
posits for the deposit-taking sector and as a
component of loans for the “other financial institu
tions and nonfinancial institutions, except general gov
ernment” sector, as recommended in the BPM6.
Portfolio and other investment liabilities to for
eign official agencies (table 8). The prototype for this
supplemental table presents transactions in U.S. port
folio and other investment liabilities to foreign official
institutions, a subset of U.S. liabilities to all foreigners,
and incorporates new data from the SLT, beginning
with statistics for 2011. In part A, which shows liabili
ties by instrument, new detail on investment fund
shares is presented and state and local government se
curities have been included in “other securities, includ
ing corporate bonds.” In part B, liabilities by sector of
U.S. issuer, complete sector detail for transactions in li
abilities to foreign official agencies is presented. The
sector information has also been reformatted to be
consistent with the changes to tables 6 and 7.
Other tables. The prototype tables presented in this
article are part of a broader set of tables that BEA is de
veloping as part of its plans for implementing the new
international standards. Two additional tables for the
ITAs are currently being developed: (1) a table with
geographic detail similar to current ITA table 12, U.S.
International Transactions, by Area, and (2) a table re
porting selected U.S. federal government transactions
that will replace current ITA table 6, Selected U.S. Gov
May 2013
ernment Transactions. New presentations are also be
ing developed for the IIP accounts tables and the
detailed services tables published in the October Sur
vey and on BEA’s Web site. Changes to the ITA presen
tation of goods and services statistics will also affect
the tables included in the monthly news release “U.S.
International Trade in Goods and Services,” which is
published jointly with the Census Bureau.
I m
p le m
e n t a t io n
T im
in g
a n d
O
u tr e a c h
BEA will implement most of the BPM6 recommenda
tions and will introduce the new presentation of the
international accounts in June 2014. In early June,
goods and services statistics will be published on the
new basis in the monthly release, “U.S. International
Trade in Goods and Services, April 2014” and in “U.S.
International Trade in Goods and Services, Annual Re
vision for 2013” released jointly by BEA and the Cen
sus Bureau. In mid-June, the new presentation of the
ITAs will be introduced in BEA’s “U.S. International
Transactions: First Quarter of 2014” and with the an
nual revision of the ITAs. Quarterly and annual statis
tics for the first quarter of 2003 to first quarter of 2014
will be released on the new BPM6 basis.
Statistics based on the previous edition of the stan
dards will also be published through 2013. This will
provide users with a statistical overlap period, or
bridge, that will allow them to evaluate relationships
between series on the old and new bases. The release of
the IIP statistics at the end of June 2014 will also be
published on the new basis with a similar overlap pe
riod.
BEA will conduct additional outreach efforts before
the new presentation is introduced to ensure that the
major changes in the accounts are well understood by
stakeholders. These outreach efforts will include pub
lishing a series of Survey articles in early 2014 describ
ing the new presentations and explaining major
changes, meeting with key stakeholders, and providing
access to redesigned table templates to data users in ad
vance of each release. As changes are made to the ac
counts, BEA will continue to update the
documentation of its methodology in U.S. Interna
tional Transactions Accounts: Concepts and Estimation
Methods, which is available at www.bea.gov.
Tables 1 through 8 follow.
May 2013
S urvey
of
C urren t B
53
u s in e s s
Table 1. U.S. International Transactions (Prototype)— Continues
[Billions of dollars]
Line
2006
C urrent account
Credits:
1 Exports of goods and services and incom e receipts........................................................................
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Exports of goods and services...................................................................................................
Goods, balance of payments basis.........................................................................................
General merchandise..........................................................................................................
Foods, feeds, and beverages..........................................................................................
Industrial supplies and materials....................................................................................
Capital goods...................................................................................................................
Automotive vehicles, parts, and engines.........................................................................
Consumer goods..............................................................................................................
Other goods.....................................................................................................................
Net exports of goods under merchanting............................................................................
Nonmonetary gold...............................................................................................................
Services...................................................................................................................................
Manufacturing services on physical inputs owned by others.............................................
Maintenance and repair services, n.i.e...............................................................................
Transport..............................................................................................................................
Travel....................................................................................................................................
Construction........................................................................................................................
Insurance and pension services 1......................................................................................
Financial services 2.............................................................................................................
Charges for the use of intellectual property 3.....................................................................
Telecommunications, computer, and information services.................................................
Other business services.....................................................................................................
Personal, cultural, and recreational services 4...................................................................
Government goods and services, n.i.e................................................................................
Primary income receipts..............................................................................................................
Investment income...................................................................................................................
Direct investment.................................................................................................................
Portfolio investment..............................................................................................................
Other investment..................................................................................................................
Reserve assets....................................................................................................................
Compensation of employees..................................................................................................
Other primary income..............................................................................................................
Secondary income (current transfer) receipts............................................................................
2007
2008
2009
2011
2010
2,221.7
2,570.5
2,752.2
2,276.1
2,614.1
2,953.9
1,460.8
1,042.2
1,030.6
66.0
279.1
404.0
107.3
129.1
45.2
2.8
8.8
418.5
n.a.
8.2
57.8
111.3
1.9
9.4
47.9
83.6
17.2
61.2
1.7
18.4
693.0
688.0
333.2
166.2
187.5
1.2
5.0
n.a.
67.9
1,656.4
1,167.9
1,150.3
84.3
316.3
433.0
121.3
146.0
49.5
4.2
13.3
488.5
n.a.
10.0
66.2
123.3
2.7
10.8
61.4
97.8
20.2
74.3
1.8
19.9
843.9
838.8
380.8
221.6
235.0
1.4
5.1
n.a.
70.3
1,845.2
1,312.5
1,288.6
108.3
386.9
457.7
121.5
161.3
53.0
5.2
18.7
532.7
n.a.
10.6
75.5
139.1
3.9
13.4
63.0
102.1
23.1
82.1
2.2
17.7
823.5
818.3
423.4
241.3
152.1
1.5
5.2
n.a.
83.5
1,581.7
1,072.9
1,055.5
93.9
293.5
391.5
81.7
149.5
45.4
3.4
13.9
508.8
n.a.
12.9
62.7
123.4
4.0
14.6
64.4
98.4
23.8
82.9
2.4
19.2
609.2
603.7
365.4
184.4
53.2
0.8
5.5
n.a.
85.3
1,844.1
1,292.4
1,271.1
107.7
388.5
447.8
112.0
165.2
50.0
3.7
17.6
551.8
n.a.
14.6
72.3
134.2
2.6
14.5
70.3
107.2
25.1
89.7
3.0
18.3
683.4
677.8
451.2
190.3
35.6
0.7
5.6
n.a.
86.5
2,104.9
1,499.7
1,461.9
126.2
484.4
493.2
133.1
175.0
50.0
3.5
34.3
605.2
n.a.
16.1
80.4
149.3
3.1
15.5
74.1
120.8
28.2
94.5
2.9
20.5
751.3
745.5
486.9
219.6
38.1
0.8
5.8
n.a.
97.7
3,023.6
3,282.5
3,431.2
2,660.4
3,058.5
3,422.2
2,215.3
1,878.5
1,872.9
76.1
613.6
422.6
256.0
447.9
56.8
5.6
336.8
n.a.
4.6
82.0
78.5
1.7
39.4
14.7
25.0
19.8
41.6
1.0
28.6
648.9
633.3
159.2
304.9
169.2
15.5
n.a.
159.5
2,354.7
1,986.6
1,977.7
83.0
648.6
449.1
258.5
480.0
58.5
8.8
368.2
n.a.
5.2
83.5
83.0
2.5
47.5
19.2
26.5
22.4
47.9
1.0
29.5
742.4
727.7
136.3
381.8
209.7
14.7
n.a.
185.4
2,545.5
2,141.6
2,129.2
90.4
799.1
458.7
233.2
486.7
61.0
12.5
403.8
n.a.
5.7
88.5
86.9
3.5
58.9
17.2
29.6
24.7
57.6
1.1
30.1
676.4
660.5
139.1
400.0
121.4
15.9
n.a.
209.3
1,963.2
1,580.0
1,571.2
82.9
469.6
374.1
159.2
431.4
54.0
8.8
383.2
n.a.
5.9
67.7
80.6
3.6
63.8
14.4
31.3
25.8
56.0
1.3
32.8
489.5
476.1
112.4
332.5
31.3
13.3
n.a.
207.7
2,341.3
1,938.4
1,925.8
92.5
610.4
450.3
225.6
486.5
60.5
12.6
402.9
n.a.
6.6
78.5
82.5
2.4
61.0
14.8
33.4
29.1
59.7
1.5
33.3
499.5
486.7
153.3
313.5
20.0
12.8
n.a.
217.6
2,667.1
2,239.9
2,223.5
108.2
765.7
513.4
255.2
517.4
63.6
16.4
427.2
n.a.
8.1
85.8
86.2
2.4
56.6
16.2
36.6
32.2
68.8
1.6
32.6
524.3
510.5
165.2
324.5
20.8
13.8
n.a.
230.8
Debits:
35 Im ports of goods and services and incom e paym ents....................................................................
36 Imports of goods and services...................................................................................................
37
Goods, balance of payments basis.........................................................................................
38
General merchandise..........................................................................................................
39
Foods, feeds, and beverages..........................................................................................
40
Industrial supplies and materials......
41
Capital goods.....................................
42
Automotive vehicles, parts, and engines
43
Consumer goods................................
44
Other goods.......................................
45
Nonmonetary gold.................................
46
Services...................................................................................................................................
47
Manufacturing services on physical inputs owned by others.............................................
48
Maintenance and repair services, n.i.e...............................................................................
49
Transport..............................................................................................................................
50
Travel....................................................................................................................................
51
Construction........................................................................................................................
52
Insurance and pension services 1......................................................................................
53
Financial services 2............................................................................................................
54
Charges for the use of intellectual property 3.....................................................................
55
Telecommunications, computer, and information services.................................................
56
Other business services.....................................................................................................
57
Personal, cultural, and recreational services 4 ...................................................................
58
Government goods and services, n.i.e................................................................................
59 Primary income payments...........................................................................................................
60
Investment income...................................................................................................................
61
Direct investment.................................................................................................................
62
Portfolio investment..............................................................................................................
Other investment..................................................................................................................
63
64
Compensation of employees..................................................................................................
65
Other primary income..............................................................................................................
66 Secondary income (current transfer) payments.........................................................................
Capital account
67
68
69
70
71
72
0.0
0.5
6.2
0.0
0.0
0.0
Gross disposals of nonproduced nonfinancial assets................................................................
Capital transfer receipts..............................................................................................................
0.0
0.0
0.5
0.0
0.0
6.2
0.0
0.0
0.0
0.0
0.0
0.0
1.8
0.1
0.2
0.1
0.2
1.2
Gross acquisitions of nonproduced nonfinancial assets...........................................................
Capital transfer payments............................................................................................................
0.1
1.7
0.0
0.1
0.0
0.2
0.0
0.1
0.0
0.2
0.1
1.2
n.a. Data are not currently available.
n.i.e. Not included elsewhere
1. Statistics currently cover only insurance services.
2. Statistics currently cover only explicit charges for financial services.
3. Statistics currently include transactions for the outright sale, rights to use, and rights to distribute intellectual property.
4. Statistics currently cover only sports, performing arts, and training services.
5. Statistics currently cover only financial derivatives transactions.
54
Modernizing and Enhancing BEA’s International Economic Accounts
May 2013
Table 1. U.S. International Transactions (Prototype)—Table Ends
[Billions of dollars]
Line
2007
2006
2008
2009
2010
2011
Financial account
73 Net acquisition of financial assets, excluding financial derivatives.............................................
74 Direct investment.........................................................................................................................
75
Equity and investment fund shares.........................................................................................
76
Equity other than reinvestment of earnings.........................................................................
77
Reinvestment of earnings.....................................................................................................
78
Debt instruments......................................................................................................................
79
U.S. parents’ claims on their foreign affiliates
U.S. affiliates’ claims on their foreign parent groups...........................................................
80
81 Portfolio investment......................................................................................................................
82
Equity and investment fund shares.........................................................................................
83
Debt securities.........................................................................................................................
84
Short term............................................................................................................................
85
Long term.............................................................................................................................
86 Other investment..........................................................................................................................
87
Other equity.............................................................................................................................
88
Currency and deposits.............................................................................................................
89
Loans........................................................................................................................................
90
Insurance, pension, and standardized guarantee schemes...................................................
91
Trade credits and advances.....................................................................................................
92
Other accounts receivable.......................................................................................................
93 Reserve assets............................................................................................................................
94
Monetary gold..........................................................................................................................
95
Special drawing rights..............................................................................................................
96
Reserve position in the International Monetary Fund.............................................................
97
Other reserve assets................................................................................................................
98
Currency and deposits.........................................................................................................
99
Securities......
Financial derivatives
100
101
Other claims...
102 Net incurrence of liabilities, excluding financial derivatives...........................................................
103 Direct investment.........................................................................................................................
104
Equity and investment fund shares.........................................................................................
105
Equity other than reinvestment of earnings.........................................................................
106
Reinvestment of earnings.....................................................................................................
107
Debt instruments......................................................................................................................
108
U.S. affiliates’ liabilities to their foreign parent groups.........................................................
U.S. parents’ liabilities to their foreign affiliates...................................................................
109
110 Portfolio investment......................................................................................................................
111
Equity and investment fund shares.........................................................................................
112
Debt secunties
113
Short term............................................................................................................................
114
Long term
115 Other investment
116
Other equity
117
Currency and deposits
118
Loans........................................................................................................................................
119
Insurance, pension, and standardized guarantee schemes...................................................
120
Trade credits and advances.....................................................................................................
121
Other accounts payable...........................................................................................................
122
Special drawing rights..............................................................................................................
123 Financial derivatives and em ployee stock options, net transactions (credit (+) or
debit ( - ) ) 5.......................................................................................................................................................
1,336.9
1,572.5
-3 0 9 .5
108.7
1,004.6
507.2
296.1
266.3
49.0
217.3
29.7
11.7
18.0
493.7
137.3
356.4
116.1
240.3
549.5
n.a.
298.6
247.3
n.a.
3.5
n.a.
-2.4
0.0
0.2
-3.3
0.7
0.3
0.3
0.0
0.1
532.9
431.4
200.9
230.5
101.6
22.7
78.9
379.7
147.8
231.9
14.6
217.3
659.8
n.a.
358.9
290.2
n.a.
10.7
n.a.
0.1
0.0
0.2
-1.0
1.0
0.5
0.3
0.0
0.2
351.7
360.1
127.0
233.1
-8.4
-29.0
20.6
-285.7
-38.5
-247.2
-84.0
-163.2
-380.3
n.a.
265.8
-642.4
n.a.
-3.7
n.a.
4.8
0.0
0.1
3.5
1.3
0.6
0.4
0.0
0.2
278.6
247.5
18.2
229.3
31.1
32.0
-0.9
375.1
63.7
311.4
135.5
175.9
-597.3
n.a.
-413.6
-184.2
n.a.
0.5
n.a.
52.3
0.0
48.2
3.4
0.7
0.1
0.5
0.0
0.1
393.0
356.4
41.1
315.3
36.6
28.2
8.4
174.9
79.1
95.8
44.4
51.4
434.9
n.a.
178.7
250.1
n.a.
6.0
n.a.
1.8
0.0
0.0
1.3
0.5
0.1
0.4
0.0
0.0
442.9
401.0
52.4
348.6
41.8
51.9
-10.1
83.0
89.0
-6.1
-60.4
54.3
-34.5
n.a.
-80.7
43.6
n.a.
2.6
n.a.
15.9
0.0
-1.8
18.1
-0.5
-0.9
0.4
0.0
0.0
2,116.3
2,183.5
454.0
303.5
1,373.4
1,024.5
294.3
184.1
115.0
69.1
110.1
77.1
33.1
1,126.7
145.5
981.3
25.4
955.9
695.3
n.a.
301.3
388.4
n.a.
5.7
n.a.
0.0
340.1
190.4
142.3
48.2
149.6
109.6
40.0
1,156.6
275.6
881.0
166.6
714.4
686.9
n.a.
240.7
425.6
n.a.
20.6
n.a.
0.0
332.7
294.9
255.7
39.1
37.9
35.9
2.0
523.7
126.8
396.9
297.3
99.6
-402.4
n.a.
111.8
-520.9
n.a.
6.7
n.a.
0.0
139.6
148.5
126.8
21.7
-8.9
1.1
-10.0
357.4
219.3
138.1
-122.5
260.5
-193.4
n.a.
-98.5
-148.9
n.a.
6.4
n.a.
47.6
271.0
199.2
131.6
67.5
71.8
15.1
56.7
808.9
177.6
631.3
-60.3
691.6
293.6
n.a.
93.5
180.5
n.a.
19.6
n.a.
0.0
257.5
180.6
93.2
87.4
76.9
43.3
33.6
336.6
27.4
309.3
-81.6
390.9
430.4
n.a.
457.3
-43.6
n.a.
16.7
n.a.
0.0
-29 .7
-6 .2
32.9
-4 4 .8
-14.1
-39 .0
-801.9
-754.5
-836.3
81.8
44.2
-91.5
-1.8
-712.0
-698.4
-818.7
120.3
101.5
-115.1
0.4
-679.1
-700.3
-829.1
128.9
147.1
-125.9
6.0
-384.3
-381.6
-507.1
125.6
119.7
-122.5
-0.1
-444.4
-497.2
-646.0
148.8
183.9
-131.1
-0.2
-468.3
-562.2
-740.2
178.0
227.0
-133.1
-1.2
-803.6
-809.1
-5.5
-711.6
-617.3
94.4
-673.1
-730.6
-57.5
-384.5
-239.7
144.8
-444.6
-382.9
61.7
-469.5
-556.3
-86.8
Balances (surplus (+) or deficit (-))
124 Current account (line 1 less line 35)................................................................................................
125 Goods and services (line 2 less line 36).....................................................................................
126
Goods (line 3 less line 37).......................................................................................................
127
Services (line 13 less line 46)..................................................................................................
128 Primary income (line 26 less line 59)..........................................................................................
129 Secondary income (line 34 less line 66).....................................................................................
130 Capital account (line 67 less line 70)...............................................................................................
Net lending or net borrowing and statistical discrepancy
Net lending (+) or net borrowing (-) derived from:
131 Current account and capital account (line 124 plus line 130)....................................................
132 Financial account (line 73 less line 102 plus line 123)................................................................
133 Statistical discrepancy (line 132 less line 131)...............................................................................
n.a. Data are not currently available.
n.i.e. Not included elsewhere
1. Statistics currently cover only insurance services.
2. Statistics currently cover only explicit charges for financial services.
3. Statistics currently include transactions for the outright sale, rights to use, and rights to distribute intellectual property.
4. Statistics currently cover only sports, performing arts, and training services.
5. Statistics currently cover only financial derivatives transactions.
May 2013
55
S u r v e y o f C u r r e n t B u s in e s s
Table 2. U.S. Trade in Goods (Prototype)—Continues
[Billions of dollars]
Line
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
2007
2006
1 Exports of goods, balance of paym ents basis (table 1, line 3 )......................................................
2 Exports of general merchandise, balance of paym ents ba s is ...................................................
3
Exports of goods, Census basis.............................................................................................
4
Balance of payments adjustments for general merchandise, net
5
Exports under U.S. military agency sales contracts............
6
Goods procured in U.S. ports by foreign carriers.................
7
Low-value transactions..........................................................
8
Nonmonetary gold.................................................................
9
Private gift parcel remittances..............................................
10
Repair of equipment............................................................................................................
11
Other adjustments, net........................................................................................................
12 Net exports of goods under m erchanting..........................................................................................
13
Goods acquired under merchanting.......................................................................................
14
Goods sold under merchanting..............................................................................................
15 Nonm onetary g o ld .....................................................................................................................................
2008
2009
2010
2011
1,042.2
1,030.6
1,167.9
1,150.3
1,312.5
1,288.6
1,072.9
1,055.5
1,292.4
1,271.1
1,499.7
1,461.9
1,026.0
4.7
1.0
11.8
3.5
-8.8
0.9
-3.8
(*)
1,148.2
2.1
0.7
13.2
4.4
-13.3
1.1
-4.0
(*)
1,287.4
1.2
-0.4
17.5
5.7
-18.7
1.1
^ .0
1,056.0
-0.5
0.6
10.9
5.0
-13.9
1.0
-4.4
0.2
1,278.3
-7.2
-1.0
14.5
1,480.4
-18.5
-0.1
18.1
-17.6
1.1
-4.5
0.3
-34.1
1.5
-4.2
0.3
2.8
4.2
n
5.2
3.4
3.7
3.5
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
8.8
13.3
18.7
13.9
17.6
34.3
Exports of general m erchandise by end-use comm odity
Exports of general m erchandise, balance of payments basis (line 2 ) ...................................
1,030.6
1,150.3
1,288.6
1,055.5
1,271.1
1,461.9
Agricultural products............................................................................................................
Nonagricultural products......................................................................................................
72.9
957.8
92.1
1,058.2
118.0
1,170.7
101.0
954.6
119.0
1,152.1
140.0
1,321.9
Foods, feeds, and b e v erag e s ............................................................................................................
66.0
84.3
108.3
93.9
107.7
126.2
Agricultural..........
Grains and preparations
Wheat..........
Corn............
Soybeans........
Meat products and poultry
Vegetables, fruits, nuts, and preparations.......................................................................
Other agricultural foods, feeds, and beverages..............................................................
Nonagricultural (fish, distilled beverages, etc.)...................................................................
Fish and shellfish.............................................................................................................
59.6
18.3
4.3
8.2
7.3
7.8
12.6
13.5
6.4
4.4
77.6
26.9
8.5
11.2
10.4
9.8
14.0
16.4
6.7
4.4
101.5
35.8
11.4
14.6
16.0
13.5
16.1
20.0
6.9
4.4
87.4
24.5
5.5
9.7
16.9
12.1
16.0
17.9
6.5
4.1
100.4
27.8
6.9
10.9
19.0
13.6
18.1
21.8
7.3
4.6
117.4
36.2
11.3
14.8
18.1
17.1
20.5
25.4
8.9
5.7
Industrial supplies and m aterials.....................................................................................................
279.1
316.3
386.9
293.5
388.5
484.4
Agricultural...........................................................................................................................
Raw cotton.......................................................................................................................
Tobacco, unmanufactured...............................................................................................
Hides and skins, including furskins.................................................................................
Other agricultural industrial supplies
Nonagricultural......................................
Energy products...............................
Coal and related products............
Petroleum and products..............................................................................................
Natural gas...................................................................................................................
Paper and paper base stocks.........................................................................................
Textile supplies and related materials.............................................................................
Chemicals, except medicinals.........................................................................................
Building materials, except metals....................................................................................
Other nonmetals..............................................................................................................
Metals and nonmetallic products....................................................................................
Steelmaking materials.................................................................................................
Iron and steel products................................................................................................
Nonferrous metals........................................................................................................
Precious metals, except nonmonetary gold............................................................
Other nonferrous metals..........................................................................................
Other metals and nonmetallic products.......................................................................
12.9
4.5
1.1
2.1
5.2
266.2
52.4
3.9
43.4
2.2
16.5
13.0
83.0
10.5
26.8
63.9
6.8
12.4
25.6
7.0
18.6
19.1
14.1
4.6
1.2
2.2
6.1
302.2
62.2
4.6
50.9
3.2
18.7
13.0
94.5
11.4
27.3
75.3
9.9
14.6
29.9
8.4
21.5
20.9
16.1
4.8
1.2
2.1
8.0
370.8
101.7
8.6
84.7
4.9
20.4
12.8
107.3
11.8
28.1
88.7
14.2
18.7
33.0
10.6
22.4
22.8
13.2
3.4
1.1
1.5
7.2
280.3
72.8
6.5
60.1
3.3
17.6
10.0
84.0
9.6
24.1
62.2
8.5
12.5
23.6
8.0
15.6
17.6
18.2
5.9
1.1
2.3
8.9
370.3
103.3
10.5
85.3
4.9
21.4
12.5
108.0
12.2
29.4
83.5
11.1
16.4
34.2
12.6
21.5
21.8
22.2
8.5
1.1
2.7
10.0
462.2
157.8
16.9
131.4
6.4
23.6
14.4
123.1
13.7
32.6
97.0
14.8
19.6
38.0
11.2
26.9
24.4
Capital goods, except auto m o tive...................................................................................................
404.0
433.0
457.7
391.5
447.8
493.2
Machinery and equipment, except consumer-type............................................................
Electric generating machinery, electric apparatus, and parts........................................
Oil drilling, mining, and construction machinery............................................................
Industrial engines, pumps, and compressors.................................................................
Machine tools and metalworking machinery...................................................................
Measuring, testing, and control instruments...................................................................
Other industrial, agricultural, and service industry machinery.......................................
Computers, peripherals, and parts..................................................................................
Semiconductors...............................................................................................................
Telecommunications equipment......................................................................................
Other office and business machines...............................................................................
Scientific, hospital, and medical equipment and parts...................................................
335.2
39.3
24.4
16.0
9.5
20.1
66.1
47.6
52.4
27.2
2.7
29.9
355.3
41.3
29.4
19.1
6.7
21.6
76.2
45.5
50.4
30.3
2.8
31.9
378.3
43.0
35.0
21.8
7.4
20.8
82.6
43.9
50.6
32.9
4.2
36.0
312.6
36.4
24.4
21.9
5.3
16.9
64.2
37.7
38.5
28.7
3.0
35.6
371.4
44.5
27.0
24.4
6.5
21.2
80.9
43.8
48.4
31.9
3.1
39.8
407.6
48.3
32.9
28.1
7.8
23.8
91.6
48.4
45.0
35.9
3.2
42.7
(*) Transactions are less than $50,000,000 (±).
n.a. Data are not currently available.
........Not applicable
56
Modernizing and Enhancing BEA’s International Economic Accounts
May 2013
Table 2. U.S. Trade in Goods (Prototype)— Continues
[Billions of dollars]
Civilian aircraft, engines, and parts....................................................................................
66
Civilian aircraft, complete, all types.................................................................................
67
68
Other transportation equipment..........................................................................................
69
Autom otive vehicles, parts, and engines......................................................................................
70
To Canada............................................................................................................................
71
Passenger cars, new and used.......................................................................................
Trucks, buses, and special purpose vehicles..................................................................
72
73
Engines and engine parts................................................................................................
Other parts and accessories...........................................................................................
74
To other areas......................................................................................................................
75
Passenger cars, new and used.......................................................................................
76
77
Trucks, buses, and special purpose vehicles..................................................................
Engines and engine parts................................................................................................
78
Other parts and accessories...........................................................................................
79
Consum er goods (nonfood), except autom otive........................................................................
80
Nondurable goods...............................................................................................................
81
82
Apparel, footwear, and household goods........................................................................
Medicinal, dental, and pharmaceutical products............................................................
83
84
Other nondurable goods..................................................................................................
85
Durable goods.....................................................................................................................
Televisions, video receivers, and other video equipment...............................................
86
Radio and stereo equipment, including records, tapes, and disks.................................
87
Toys and sporting goods, including bicycles...................................................................
88
Household and kitchen appliances and other household goods...................................
89
90
Household furnishings and related products...............................................................
Household and kitchen appliances.............................................................................
91
Other household goods, including cell phones...........................................................
92
Gems, jewelry, and collectibles.......................................................................................
93
94
Other durable goods.........
O ther g o o d s .................................
95
96 Im ports of goods, balance of payments basis (table 1, line 3 7 )....................................................
97 Im ports of general m erchandise, balance of payments ba s is ...................................................
98
Imports of goods, Census basis
Balance of payments adjustments for general merchandise, net..........................................
99
Goods procured in foreign ports by U.S. carriers...............................................................
100
Imports by U.S. military agencies.......................................................................................
101
Inland freight in Canada and Mexico..................................................................................
102
103
Locomotives and railcars.....................................................................................................
104
Nonmonetary gold...............................................................................................................
105
Repair of equipment............................................................................................................
106
Software revaluation............................................................................................................
107
108
Other adjustments, net........................................................................................................
109 Nonm onetary g o ld ......................................................................................................................................
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
2007
2006
Line
2008
2009
2010
2011
64.5
30.2
4.4
73.0
34.5
4.7
74.0
31.3
5.4
74.8
35.2
4.2
72.0
29.6
4.5
80.2
33.4
5.4
107.3
121.3
121.5
81.7
112.0
133.1
57.0
13.1
11.8
6.9
25.2
50.3
20.8
3.3
5.5
20.6
60.3
15.1
12.6
6.9
25.7
61.0
28.6
4.5
6.6
21.3
53.5
14.7
10.8
6.1
22.0
68.0
34.9
5.0
6.8
21.3
36.8
8.4
8.8
3.4
16.1
45.0
19.1
3.6
5.3
16.9
49.5
11.3
12.4
4.7
21.2
62.5
27.1
4.2
7.8
23.3
54.5
12.3
13.8
5.1
23.3
78.6
35.1
5.5
9.7
28.4
129.1
146.0
161.3
149.5
165.2
175.0
58.0
7.6
30.9
19.4
71.1
4.0
6.0
8.1
26.4
3.2
6.6
16.5
12.3
14.3
63.2
7.3
35.2
20.8
82.7
3.9
7.4
10.6
28.5
3.6
6.8
18.1
14.7
17.6
70.6
7.8
40.4
22.4
90.7
3.7
7.4
11.6
31.1
4.0
7.2
19.8
16.0
20.9
74.0
7.4
46.1
20.5
75.4
3.9
5.3
9.8
27.8
3.2
5.9
18.7
13.9
14.6
77.5
8.3
46.6
22.6
87.7
5.2
5.4
10.5
32.0
3.8
6.6
21.6
15.0
19.7
77.7
9.4
44.9
23.3
97.3
5.7
5.5
10.5
34.1
4.1
6.9
23.0
17.3
24.2
45.2
1,878.5
1,872.9
49.5
1,986.6
1,977.8
53.0
2,141.6
2,129.2
45.4
1,580.0
1,571.2
50.0
1,938.4
1,925.8
50.0
2,239.9
2,223.5
1,853.9
18.9
9.6
5.9
5.2
1.7
1.0
-5.6
-2.3
3.5
(*)
1,957.0
20.8
10.0
6.9
4.8
1.5
1.1
-4.7
-2.6
3.6
(*)
2,103.6
25.5
13.8
10.2
4.6
1.5
0.9
-6.1
-2.6
3.1
0.1
1,559.6
11.6
8.0
7.2
4.0
0.4
1.1
-8.8
-2.6
2.6
-0.3
1,913.2
12.7
10.7
7.9
5.9
0.4
2,207.8
15.7
14.5
9.0
6.8
2.0
-12.6
-2.4
3.1
-0.3
-16.4
-3.1
3.2
-0.2
5.6
8.8
12.5
8.8
12.6
16.4
Im ports of general m erchandise by end-use com m odity
Im ports of general m erchandise, balance of payments basis (line 9 7 ).................................
1,872.9
1,977.8
2,129.2
1,571.2
1,925.8
2,223.5
Petroleum and products.......................................................................................................
Nonpetroleum products.......................................................................................................
316.7
1,556.2
346.7
1,631.1
476.1
1,653.1
267.7
1,303.5
353.8
1,572.1
462.3
1,761.2
Foods, feeds, and b everages.............................................................................................................
76.1
83.0
90.4
82.9
92.5
108.2
Agricultural...........................................................................................................................
Coffee, cocoa, and sugar.................................................................................................
Green coffee................................................................................................................
Meat products and poultry...............................................................................................
Vegetables, fruits, nuts, and preparations.......................................................................
Wine, beer, and related products....................................................................................
Other agricultural foods, feeds, and beverages..............................................................
Nonagricultural (fish, distilled beverages, etc.)
Fish and shellfish.............................................................................................................
Whiskey and other alcoholic beverages..........................................................................
57.4
4.9
2.8
7.5
15.7
8.0
21.4
18.7
13.3
5.0
63.3
4.7
3.2
8.1
18.0
8.5
24.1
19.7
13.6
5.6
70.1
5.8
3.8
7.5
19.5
8.5
28.8
20.4
14.1
5.5
64.0
5.8
3.4
6.4
18.8
7.6
25.5
18.8
13.1
5.1
71.5
7.3
4.1
7.2
21.0
8.0
28.0
21.0
14.7
5.7
84.6
11.1
6.9
7.7
23.6
8.6
33.5
23.7
16.6
6.3
Industrial supplies and m a te ria ls ....................................................................................................
613.6
648.6
799.1
469.6
610.4
765.7
Agricultural...........................................................................................................................
Nonagricultural....................................................................................................................
Energy products...............................................................................................................
Petroleum and products..............................................................................................
Natural gas...................................................................................................................
8.1
605.4
354.4
316.7
28.3
8.8
639.8
390.2
346.7
31.9
10.9
788.2
525.6
476.1
34.4
8.1
461.5
293.5
267.7
16.1
10.3
600.0
382.3
353.8
18.5
14.2
751.5
488.4
462.3
15.3
(*) Transactions are less than $50,000,000 (±).
n.a. Data are not currently available.
........Not applicable
M ay 2 0 1 3
Survey
of
C u r r e n t B u s in e s s
57
Table 2. U.S. Trade in Goods (Prototype)—Table Ends
[Billions of dollars]
Line
130
Paper and paper base stocks.........................................................................................
131
Textile supplies and related materials.............................................................................
132
Chemicals, except medicinals.........................................................................................
133
Building materials, except metals...................................................................................
134
Other nonmetals..............................................................................................................
135
Metals and nonmetallic products....................................................................................
136
Steelmaking materials.................................................................................................
137
Iron and steel products................................................................................................
138
Nonferrous metals........................................................................................................
139
Precious metals, except nonmonetary gold...........................................................
140
Bauxite and aluminum.............................................................................................
141
Other nonferrous metals..........................................................................................
142
Other metals and nonmetallic products.......................................................................
143
Capital goods, except a u to m o tive...................................................................................................
144
Machinery and equipment, except consumer-type............................................................
145
Electric generating machinery, electric apparatus and parts.........................................
146
Oil drilling, mining, and construction machinery............................................................
147
Industrial engines, pumps, and compressors................................................................
148
Machine tools and metalworking machinery...................................................................
149
Measuring, testing, and control instruments..................................................................
150
Other industrial, agricultural, and service industry machinery.......................................
151
Computers, peripherals, and parts.................................................................................
152
Semiconductors...............................................................................................................
153
Telecommunications equipment......................................................................................
154
Other office and business machines...............................................................................
155
Scientific, hospital, and medical equipment and parts...................................................
156
Civilian aircraft, engines, and parts....................................................................................
157
Civilian aircraft, complete, all types.................................................................................
158
Other transportation equipment..........................................................................................
159
Automotive vehicles, parts, and engin es......................................................................................
160
From Canada.........................................................................................................................
161
Passenger cars, new and used.......................................................................................
162
Trucks, buses, and special purpose vehicles.................................................................
163
Engines and engine parts...............................................................................................
164
Other parts and accessories...........................................................................................
165
From other areas.................................................................................................................
166
Passenger cars, new and used.......................................................................................
167
Trucks, buses, and special purpose vehicles.................................................................
168
Engines and engine parts...............................................................................................
169
Other parts and accessories...........................................................................................
170
Consum er goods (nonfood), except autom otive........................................................................
171
Nondurable goods...............................................................................................................
172
Apparel, footwear, and household goods........................................................................
173
Medicinal, dental, and pharmaceutical products............................................................
174
Other nondurable goods.................................................................................................
175
Durable goods.....................................................................................................................
176
Televisions, video receivers, and other video equipment...............................................
177
Radio and stereo equipment, including records, tapes, and disks.................................
178
Toys and sporting goods, including bicycles...................................................................
179
Household and kitchen appliances and other household goods....................................
180
Household furnishings and related products..............................................................
181
Household and kitchen appliances.............................................................................
182
Other household goods, including cell phones..........................................................
183
Gems, jewelry, and collectibles.......................................................................................
184
Other durable goods........................................................................................................
185
O ther g o o d s .............................................................................................................................................
186 Balance on goods, balance of payments basis (surplus (+) or deficit (-), table 1, line 126)
(*) Transactions are less than $50,000,000 (±).
n.a. Data are not currently available.
........Not applicable
2007
2006
2008
2009
2010
2011
14.8
13.0
54.2
35.7
28.5
105.0
6.6
38.8
40.2
8.3
14.6
17.3
19.4
14.4
13.2
56.6
30.6
27.3
107.5
7.3
35.9
44.2
11.1
13.5
19.6
20.1
14.4
12.6
68.5
24.5
27.2
115.4
10.8
40.9
41.6
11.4
13.1
17.1
22.1
10.1
9.5
46.4
17.3
21.9
62.7
3.8
20.4
23.8
5.8
8.4
9.6
14.7
12.2
11.9
60.1
19.5
26.3
87.8
7.4
28.6
34.0
9.5
10.5
14.0
17.8
12.6
13.4
75.4
19.9
29.2
112.6
9.1
37.3
44.8
15.7
11.6
17.5
21.5
422.6
449.1
458.7
374.1
450.3
513.4
389.7
50.5
19.1
14.2
9.6
13.8
78.0
101.6
27.5
40.3
8.7
26.4
28.5
10.6
4.4
410.1
55.8
19.3
15.9
8.7
15.1
83.4
105.5
26.7
44.4
6.7
28.6
34.5
13.3
4.5
418.9
57.3
23.6
18.5
9.6
15.0
86.1
101.2
25.8
45.1
5.4
31.3
35.5
12.4
4.3
340.9
44.4
12.4
13.8
5.8
11.7
65.3
94.2
23.5
37.6
4.1
28.3
30.7
9.5
2.4
416.4
53.7
15.4
16.8
6.4
14.8
76.5
117.3
31.5
47.6
4.4
31.9
31.2
8.8
2.7
473.1
59.5
21.8
21.4
9.7
17.5
94.1
119.7
40.4
48.5
4.6
35.9
35.5
9.9
4.7
256.0
258.5
233.2
159.2
225.6
255.2
69.9
36.7
12.6
4.0
16.5
186.0
99.0
11.8
16.1
59.2
69.0
36.8
11.4
4.4
16.4
189.5
97.2
12.0
16.5
63.8
54.4
31.5
6.1
3.5
13.3
178.8
94.3
10.0
15.7
58.8
36.5
22.8
2.6
2.5
8.6
122.7
58.3
9.5
10.6
44.3
52.4
35.9
1.6
3.5
11.4
173.2
79.1
14.8
15.7
63.7
56.5
38.5
2.1
3.5
12.5
198.7
84.1
18.1
20.9
75.5
447.9
480.0
486.7
431.4
486.5
517.4
203.0
114.0
64.4
24.6
244.9
35.9
15.2
33.6
106.5
24.7
18.6
63.2
22.3
31.4
215.5
117.5
71.8
26.2
264.5
39.8
15.1
38.6
112.4
25.2
19.7
67.5
24.9
33.7
219.4
113.7
78.9
26.8
267.4
41.0
12.7
40.3
117.1
23.8
19.3
74.0
22.2
34.0
204.8
100.4
81.5
22.9
226.6
36.2
8.2
34.0
107.8
19.0
17.3
71.4
17.1
23.3
226.0
115.5
85.5
25.0
260.6
37.8
9.8
36.6
125.3
23.0
19.9
82.3
20.2
30.8
243.9
125.7
91.8
26.4
273.5
33.5
9.8
35.6
136.4
23.7
21.0
91.8
23.7
34.5
56.8
58.5
61.0
54.0
60.5
63.6
-8 3 6 .3
-8 1 8 .7
-829.1
-507.1
-64 6 .0
-74 0 .2
58
Modernizing and Enhancing BEA’s International Economic Accounts
May 2013
Table 3. U.S. Trade in Services (Prototype)— Continues
[Billions of dollars]
2006
Line
1 Exports of services (table 1, line 1 3 ) ........................................................................................................
2 Manufacturing services on physical inputs owned by others......................................................
3 Maintenance and repair services, n.i.e........................................................................................
4 Transport.......................................................................................................................................
5
Sea transport...........................................................................................................................
6
Passenger
7
Freight..
8
Port......
Air transport
9
10
Passenger
11
Freight..
12
Port........................................................................................................................................
13
Other modes of transport.........................................................................................................
14
Postal and courier services 1...................................................................................................
15 Travel2..........................................................................................................................................
16
Business...................................................................................................................................
17
Expenditures by border, seasonal, and other short-term workers......................................
18
Other business travel............................................................................................................
19
Personal....................................................................................................................................
20
Health related.......................................................................................................................
21
Education related.................................................................................................................
22
Other personal travel............................................................................................................
23 Construction..................................................................................................................................
24
Construction abroad.................................................................................................................
25
Foreign contractors’ expenditures in the United States...........................................................
26 Insurance and pension services 3...............................................................................................
27
Direct insurance.......................................................................................................................
28
Reinsurance..............................................................................................................................
29
Auxiliary insurance services.....................................................................................................
30
Pension and standardized guarantee services.......................................................................
31 Financial services 4.....................................................................................................................
32
Explicitly charged and other financial services.......................................................................
33
Securities brokerage, underwriting, and related services..................................................
34
Financial management, financial advisory, and custody services......................................
35
Credit card and other credit-related services......................................................................
36
Securities lending, electronic funds transfer, and other services.......................................
37
Financial intermediation services indirectly measured...........................................................
38 Charges for the use of intellectual property6.............................................................................
39
Industrial processes.................................................................................................................
40
Software licensing fees............................................................................................................
41
Other charges for the use of intellectual property...................................................................
42 Telecommunications, computer, and information services..........................................................
43
Telecommunications services..................................................................................................
44
Computer services...................................................................................................................
Information services.................................................................................................................
45
46 Other business services..............................................................................................................
47
Research and development services......................................................................................
48
Professional and management consulting services................................................................
49
Technical, trade-related, and other business services............................................................
50 Personal, cultural, and recreational services 6............................................................................
51 Government goods and services, n.i.e........................................................................................
n.a. Data are not currently available,
n.i.e. Not included elsewhere
1. Statistics currently cover only postal services. Courier services are included in “Airtransport, freight" (lines
11 and 62) but are not separately identifiable.
2. Total travel does not equal the sum of the components because data for “other business travel” and “other
personal travel” are not separately identifiable. Data for the two components combined are included in the total.
2007
2008
2009
2010
2011
418.5
488.5
532.7
508.8
551.8
605.2
n.a.
8.2
57.8
14.6
n.a.
3.4
11.2
38.9
21.6
10.1
7.1
4.0
0.3
111.3
n.a.
8.2
n.a.
n.a.
2.2
14.6
n.a.
1.9
1.9
n.a.
9.4
3.1
5.5
0.9
n.a.
47.9
47.9
15.6
19.4
4.9
8.0
n.a.
83.5
32.4
22.7
28.5
17.2
7.1
5.7
4.3
61.2
12.8
31.2
17.2
1.7
18.4
n.a.
10.0
66.2
16.4
n.a.
4.2
12.2
45.3
25.2
11.3
8.8
4.2
0.3
123.3
n.a.
7.6
n.a.
n.a.
2.4
16.0
n.a.
2.7
2.7
n.a.
10.8
3.2
6.7
0.9
n.a.
61.4
61.4
19.0
26.6
5.7
10.0
n.a.
97.8
36.2
29.5
32.2
20.2
8.2
7.2
4.8
74.3
15.6
38.9
19.8
1.8
19.9
n.a.
10.6
75.5
17.8
n.a.
4.9
12.9
52.8
31.0
13.5
8.4
4.5
0.3
139.1
n.a.
8.2
n.a.
n.a.
2.5
18.0
n.a.
3.9
3.9
n.a.
13.4
3.8
8.1
1.5
n.a.
63.0
63.0
19.3
25.0
7.7
11.1
n.a.
102.1
37.7
31.4
33.0
23.1
10.0
8.5
4.6
82.1
17.3
42.7
22.0
2.2
17.7
n.a.
12.9
62.7
13.6
n.a.
3.2
10.4
44.6
26.1
10.9
7.5
4.3
0.2
123.4
n.a.
6.8
n.a.
14.6
72.3
15.9
n.a.
4.2
11.7
51.7
31.0
12.4
8.3
4.4
0.2
134.2
n.a.
6.9
n.a.
n.a.
2.9
21.0
n.a.
2.6
2.6
n.a.
14.5
4.2
8.9
1.4
n.a.
70.3
70.3
19.8
27.5
9.4
13.6
n.a.
107.2
37.0
35.5
34.7
25.1
11.1
8.9
5.1
89.7
21.4
44.5
23.8
3.0
18.3
n.a.
16.1
80.4
16.5
n.a.
4.1
12.3
59.0
36.6
13.6
8.8
4.7
0.2
149.3
n.a.
7.4
n.a.
n.a.
3.0
22.7
n.a.
3.1
3.1
n.a.
15.5
4.4
9.5
1.6
n.a.
74.1
74.1
18.4
28.8
11.7
15.1
n.a.
120.8
44.0
39.2
37.7
28.2
12.7
10.1
5.4
94.5
23.4
44.7
26.4
2.9
20.5
n.a.
n.a.
2.7
19.7
n.a.
4.0
4.0
n.a.
14.6
4.1
8.9
1.6
n.a.
64.4
64.4
18.9
23.6
9.4
12.5
n.a.
98.4
34.9
31.0
32.5
23.8
10.1
8.8
4.9
82.9
18.1
42.3
22.5
2.4
19.2
3. Statistics currently cover only insurance services.
4. Statistics currently cover only explicit charges for financial services.
outright sale, rights to use, and rights to distribute intellec
5. Statistics currently include
tual property.
6. Statistics currently cover only sports, performing arts, and training services.
transactionsforthe
May 2013
59
S u r v e y o f C u r r e n t B u s in e s s
Table 3. U.S. Trade in Services (Prototype)—Table Ends
[Billions of dollars]
Line
2007
2006
2009
2008
2010
2011
52 Im ports of services (table 1, line 4 6 )........................................................................................................
336.8
368.2
403.8
383.2
402.9
427.2
53 Manufacturing services on physical inputs owned by others.....................................................
54 Maintenance and repair services, n.i.e.......................................................................................
55 Transport.....................................................................................................................................
Sea transport
56
57
Passenger
Freight
58
Port...
59
Air transport
60
Passenger............................................................................................................................
61
62
Freight..................................................................................................................................
Port......................................................................................................................................
63
64
Other modes of transport.......................................................................................................
65
Postal and courier services 1..................................................................................................
66 Travel2.........................................................................................................................................
67
Business..................................................................................................................................
Expenditures by border, seasonal, and other short-term workers.....................................
68
69
Other business travel...........................................................................................................
70
Personal...................................................................................................................................
71
Health related......................................................................................................................
Education related.................................................................................................................
72
Other personal travel...........................................................................................................
73
74 Construction................................................................................................................................
75
Construction in the United States...........................................................................................
U.S. contractors’ expenditures abroad....................................................................................
76
77 Insurance and pension services 3..............................................................................................
78
Direct insurance.......................................................................................................................
Reinsurance............................................................................................................................
79
80
Auxiliary insurance services....................................................................................................
81
Pension and standardized guarantee services.......................................................................
82 Financial services4.....................................................................................................................
83
Explicitly charged and other financial services.......................................................................
84
Securities brokerage, underwriting, and related services..................................................
Financial management, financial advisory, and custody services.....................................
85
Credit card and other credit-related services......................................................................
86
87
Securities lending, electronic funds transfer, and other services.......................................
88
Financial intermediation services indirectly measured..........................................................
89 Charges for the use of intellectual property5.............................................................................
90
Industrial processes................................................................................................................
91
Software licensing fees............................................................................................................
92
Other charges for the use of intellectual property..................................................................
93 Telecommunications, computer, and information services........................................................
94
Telecommunications services.................................................................................................
95
Computer services..................................................................................................................
96
Information services................................................................................................................
97 Other business services..............................................................................................................
Research and development services.....................................................................................
98
99
Professional and management consulting services..............................................................
Technical, trade-related, and other business services...........................................................
100
101 Personal, cultural, and recreational services 6...........................................................................
102 Government goods and services, n.i.e.......................................................................................
103 Balance on services (surplus (+) or deficit (-), table 1, line 1 2 7 )..................................................
n.a.
4.6
82.0
36.0
n.a.
34.3
1.7
41.9
26.6
6.3
9.0
3.4
0.6
78.5
n.a.
0.4
n.a.
n.a.
0.6
4.5
n.a.
1.7
0.5
1.1
39.4
4.3
34.6
0.5
n.a.
14.7
14.7
2.9
5.9
0.8
5.1
n.a.
25.0
16.5
3.0
5.5
19.8
6.3
12.8
0.6
41.6
9.3
23.2
9.1
1.0
28.6
n.a.
5.2
83.5
34.8
n.a.
32.9
1.9
44.6
27.7
6.4
10.6
3.5
0.6
83.0
n.a.
0.5
n.a.
n.a.
0.7
4.7
n.a.
2.5
0.6
2.0
47.5
4.2
42.8
0.5
n.a.
19.2
19.2
3.8
7.1
0.8
7.5
n.a.
26.5
16.7
4.8
5.0
22.4
7.3
14.3
0.8
47.9
13.0
24.9
9.9
1.0
29.5
n.a.
5.7
88.5
34.5
n.a.
32.5
2.0
50.0
31.8
6.2
12.0
3.4
0.6
86.9
n.a.
0.5
n.a.
n.a.
0.8
5.1
n.a.
3.5
0.8
2.7
58.9
3.7
53.7
1.5
n.a.
17.2
17.2
4.6
5.2
0.8
6.6
n.a.
29.6
16.2
6.1
7.3
24.7
7.8
15.9
1.0
57.6
16.3
29.1
12.1
1.1
30.1
n.a.
5.9
67.7
23.2
n.a.
21.7
1.6
41.0
25.1
4.7
11.2
3.1
0.5
80.6
n.a.
0.5
n.a.
n.a.
0.9
5.1
n.a.
3.6
0.7
2.9
63.8
3.4
59.0
1.3
n.a.
14.4
14.4
4.3
4.2
2.1
3.9
n.a.
31.3
17.9
6.2
7.2
25.8
7.6
16.8
1.4
56.0
16.6
26.6
12.8
1.3
32.8
n.a.
6.6
78.5
29.5
n.a.
27.9
1.6
45.3
27.3
6.4
11.6
3.4
0.4
82.5
n.a.
0.5
n.a.
n.a.
1.0
5.5
n.a.
2.4
0.5
1.9
61.0
4.4
55.2
1.4
n.a.
14.8
14.8
4.0
4.1
2.9
3.7
n.a.
33.4
19.4
5.2
8.9
29.1
8.0
19.4
1.6
59.7
18.9
27.7
13.1
1.5
33.3
n.a.
8.1
85.8
31.4
n.a.
29.7
1.7
50.4
31.1
6.6
12.6
3.7
0.4
86.2
n.a.
0.5
n.a.
n.a.
1.1
5.9
n.a.
2.4
0.6
1.8
56.6
4.5
50.5
1.6
n.a.
16.2
16.2
3.8
4.4
3.9
4.1
n.a.
36.6
22.6
5.6
8.4
32.2
7.7
22.6
1.9
68.8
22.4
31.8
14.7
1.6
32.6
81.8
120.3
128.9
125.6
148.8
178.0
n.a. Data are not currently available,
n.i.e. Not included elsewhere
1. Statistics currently cover only postal sen/ices. Courier services are included in “Air transport, freight" (lines
11 and 62) but are not separately identifiable.
2. Total travel does not equal the sum of the components because data for “other business travel" and “other
personal travel" are not separately identifiable. Data for the two components combined are included in the total.
3. Statistics currently cover only insurance services.
4. Statistics currently cover only explicit charges for financial services.
5. Statistics currently include transactions for the outright sale, rights to use, and rights to distribute intellec
tual property.
6. Statistics currently cover only sports, performing arts, and training services.
Modernizing and Enhancing BEA’s International Economic Accounts
60
May 2013
Table 4. Primary Income (Prototype)
[Billions of dollars]
2007
2006
Line
1 Prim ary incom e receipts (table 1, line 2 6 )..............................................................................................
2 Investment income...........................................
Direct investment.........................................
3
4
Income on equity and investment fund shares....................................................................
Dividends and withdrawals..................
5
6
Reinvested earnings.............................
7
Interest.....................................................
8
U.S. parents’ receipts from their foreign affiliates............................................................
U.S. affiliates’ receipts from their foreign parent groups.................................................
9
10
Portfolio investment..................................................................................................................
11
Income on equity and investment fund shares....................................................................
Dividends on equity excluding investment funds shares................................................
12
Income attributable to investment fund shareholders.....................................................
13
14
Interest..................................................................................................................................
Short term........................................................................................................................
15
Long term.........................................................................................................................
16
Other investment......................................................................................................................
17
Interest1...............................................................................................................................
18
Income attributable to policyholders in insurance, pension schemes, and standardized
19
guarantee schemes 2.......................................................................................................
20
Reserve assets........................................................................................................................
21
Income on equity and investment fund shares....................................................................
22
Interest1................................................................................................................................
23 Compensation of employees.......................................................................................................
24 Other primary income..................................................................................................................
25 Prim ary incom e payments (table 1, line 5 9 )...........................................................................................
26 Investment income.......................................................................................................................
Direct investment.....................................................................................................................
27
28
Income on equity and investment fund shares....................................................................
29
Dividends and withdrawals...............................................................................................
30
Reinvested earnings.........................................................................................................
Interest..................................................................................................................................
31
32
U.S. affiliates’ payments to their foreign parent groups..................................................
U.S. parents' payments to their foreign affiliates.............................................................
33
34
Portfolio investment..................................................................................................................
35
Income on equity and investment fund shares....................................................................
36
Dividends on equity excluding investment funds shares................................................
37
Income attributable to investment fund shareholders......................................................
Interest.................................................................................................................................
38
39
Short term........................................................................................................................
Long term.........................................................................................................................
40
41
Other investment......................................................................................................................
42
Interest1................................................................................................................................
43
Income attributable to policyholders in insurance, pension schemes, and standardized
guarantee schemes 2.......................................................................................................
44 Compensation of employees.......................................................................................................
45 Other primary income..................................................................................................................
46 Balance on primary incom e (surplus (+) or deficit (-), table 1, line 128).....................................
2008
2009
2010
2011
693.0
843.9
823.5
609.2
683.4
751.3
688.0
333.2
319.0
101.7
217.3
14.2
9.6
4.6
166.1
84.3
n.a.
n.a.
81.8
17.9
63.9
187.5
180.5
838.8
380.8
363.4
132.8
230.5
17.5
11.3
6.2
221.6
116.1
n.a.
n.a.
105.5
22.7
82.8
235.0
226.7
818.3
423.4
405.5
172.4
233.1
17.8
12.2
5.6
241.3
143.9
n.a.
n.a.
97.4
12.5
85.0
152.1
141.8
603.7
365.4
351.6
122.3
229.3
13.8
9.3
4.4
184.4
108.6
n.a.
n.a.
75.8
3.3
72.6
53.2
42.8
677.8
451.2
438.5
123.2
315.3
12.7
8.4
4.3
190.3
111.8
n.a.
n.a.
78.4
1.9
76.5
35.6
27.0
745.5
486.9
473.3
124.6
348.6
13.6
9.3
4.3
219.6
137.3
120.8
16.5
82.3
1.6
80.7
38.1
29.5
6.9
1.2
0.0
1.2
5.0
n.a.
8.3
1.4
0.0
1.4
5.1
n.a.
10.4
1.5
0.0
1.5
5.2
n.a.
10.3
0.8
0.0
0.8
5.5
n.a.
8.6
0.7
0.0
0.7
5.6
n.a.
8.6
0.8
0.0
0.8
5.8
n.a.
648.9
742.4
676.4
489.5
499.5
524.3
633.3
159.2
132.3
63.2
69.1
26.8
23.0
3.8
304.9
44.9
n.a.
n.a.
260.1
28.9
231.2
169.2
167.1
727.7
136.3
101.8
53.6
48.2
34.5
30.6
3.9
381.8
54.9
n.a.
n.a.
326.9
34.1
292.7
209.7
207.7
660.5
139.1
104.9
65.7
39.1
34.2
30.2
4.0
400.0
70.1
n.a.
n.a.
329.9
22.2
307.7
121.4
119.2
476.1
112.4
80.9
59.3
21.7
31.5
28.3
3.1
332.5
59.7
n.a.
n.a.
272.8
5.9
266.9
31.3
29.1
486.7
153.3
122.7
55.1
67.5
30.6
27.8
2.8
313.5
60.0
n.a.
n.a.
253.5
2.1
251.3
20.0
18.0
510.5
165.2
132.9
45.5
87.4
32.3
30.0
2.3
324.5
73.3
58.6
14.7
251.2
1.3
249.9
20.8
18.6
2.1
15.5
n.a.
2.0
14.7
n.a.
2.2
15.9
n.a.
2.2
13.3
n.a.
2.0
12.8
n.a.
2.2
13.8
n.a.
44.2
101.5
147.1
119.7
183.9
227.0
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
Memoranda:
47 Other investment income receipts interest before FISIM................................................................
48 Other investment income payments interest before FISIM.............................................................
n.a. Data are not currently available.
1. Interest receipts and payments are not currently adjusted to exclude interest that represents charges for
services. These charges are often referred to as implicit service fees or financial intermediation services indirectly measured. BEA plans to develop estimates of the portion of interest that represents such charges and
adjust the accounts to remove them from interest and include them in services.
2. Statistics currently reflect only income attributable to insurance policyholders,
FISIM Financial intermediation services indirectly measured
May 2013
S urvey
of
61
C u r r e n t B u s in e s s
Table 4.1. Primary Income by Sector (Prototype)
[Billions of dollars]
Line
2006
2007
1 Prim ary incom e receipts (table 1, line 2 6 ) .............................................................................................
2 Investment income......................................................................................................................
3
Direct investment.....................................................................................................................
4
Portfolio investment.................................................................................................................
5
Income on equity and investment fund shares...................................................................
Deposit-taking institutions, except central bank..............................................................
6
Other financial institutions...............................................................................................
7
8
Nonfinancial institutions, except general government....................................................
9
Interest.................................................................................................................................
10
Short term........................................................................................................................
11
Deposit-taking institutions, except central bank.........................................................
Other financial institutions...........................................................................................
12
13
Nonfinancial institutions, except general government................................................
14
Long term.........................................................................................................................
15
Deposit-taking institutions, except central bank.........................................................
Other financial institutions...........................................................................................
16
17
Nonfinancial institutions, except general government................................................
18
Other investment...................................................
19
Interest1.............................................................
Deposit-taking institutions, except central bank.............................................................
20
21
Other financial and nonfinancial institutions...
22
General government......................................
23
Income attributable to policyholders in insurance, pension schemes, and standardized
guarantee schemes 2.......................................................................................................
24
Reserve assets........................................................................................................................
25 Compensation of employees.......................................................................................................
26 Other primary income.................................................................................................................
693.0
843.9
823.5
609.2
683.4
751.3
688.0
333.2
166.1
84.3
n.a.
n.a.
n.a.
81.8
17.9
0.6
16.9
0.4
63.9
n.a.
n.a.
n.a.
187.5
180.5
113.9
65.2
1.5
838.8
380.8
221.6
116.1
n.a.
n.a.
n.a.
105.5
22.7
1.3
21.3
0.1
82.8
n.a.
n.a.
n.a.
235.0
226.7
142.1
83.4
1.2
818.3
423.4
241.3
143.9
n.a.
n.a.
n.a.
97.4
12.5
1.0
11.5
(*)
85.0
n.a.
n.a.
n.a.
152.1
141.8
86.7
51.5
3.6
603.7
365.4
184.4
108.6
n.a.
n.a.
n.a.
75.8
3.3
0.1
3.2
(*)
72.6
n.a.
n.a.
n.a.
53.2
42.8
25.2
13.6
4.0
677.8
451.2
190.3
111.8
n.a.
n.a.
n.a.
78.4
1.9
0.1
1.7
0.1
76.5
n.a.
n.a.
n.a.
35.6
27.0
19.0
7.2
0.8
745.5
486.9
219.6
137.3
2.7
116.7
17.9
82.3
1.6
0.1
1.5
(*)
80.7
7.2
59.0
14.5
38.1
29.5
20.9
7.5
1.1
6.9
1.2
5.0
n.a.
8.3
1.4
5.1
n.a.
10.4
1.5
5.2
n.a.
10.3
0.8
5.5
n.a.
8.6
0.7
5.6
n.a.
8.6
0.8
5.8
n.a.
27 Prim ary incom e payments (table 1, line 5 9 ) ..........................................................................................
28 Investment income......................................................................................................................
29
Direct investment.....................................................................................................................
30
Portfolio investment.................................................................................................................
31
Income on equity and investment fund shares...................................................................
32
Deposit-taking institutions, except central bank.............................................................
33
Other financial institutions...............................................................................................
34
Nonfinancial institutions, except general government....................................................
Interest.................................................................................................................................
35
Short term........................................................................................................................
36
37
Deposit-taking institutions, except central bank.........................................................
Other financial institutions...........................................................................................
38
39
Nonfinancial institutions, except general government................................................
40
General government (Treasury securities)..................................................................
Longterm.........................................................................................................................
41
42
Deposit-taking institutions, except central bank.........................................................
Other financial institutions...........................................................................................
43
44
Of which: Federally sponsored agency securities..................................................
45
Nonfinancial institutions, except general government................................................
46
General government....................................................................................................
47
Treasury securities..................................................................................................
48
State and local government securities....................................................................
49
Other investment.....................................................................................................................
50
Interest1..............................................................................................................................
Deposit-taking institutions, except central bank..............................................................
51
52
Other financial and nonfinancial institutions....................................................................
53
General government (interest payments on SDR allocations).......................................
54
Income attributable to policyholders in insurance, pension schemes, and standardized
guarantee schemes 2.......................................................................................................
55 Compensation of employees......................................................................................................
56 Other primary income.................................................................................................................
648.9
742.4
676.4
489.5
499.5
524.3
633.3
159.2
304.9
44.9
n.a.
n.a.
n.a.
260.1
28.9
1.9
15.0
0.4
11.5
231.2
n.a.
n.a.
49.9
n.a.
73.6
73.6
n.a.
169.2
167.1
123.5
43.3
0.3
727.7
136.3
381.8
54.9
n.a.
n.a.
n.a.
326.9
34.1
2.7
18.7
0.3
12.5
292.7
n.a.
n.a.
66.3
n.a.
85.6
85.6
n.a.
209.7
207.7
147.7
59.7
0.3
660.5
139.1
400.0
70.1
n.a.
n.a.
n.a.
329.9
22.2
2.6
10.2
0.2
9.2
307.7
n.a.
n.a.
70.5
n.a.
86.9
86.9
n.a.
121.4
119.2
79.7
39.2
0.2
476.1
112.4
332.5
59.7
n.a.
n.a.
n.a.
272.8
5.9
0.4
0.9
486.7
153.3
313.5
60.0
n.a.
n.a.
n.a.
253.5
2.1
0.2
0.4
4.5
266.9
n.a.
n.a.
56.1
n.a.
83.7
83.7
n.a.
31.3
29.1
14.8
14.2
0.1
1.5
251.3
n.a.
n.a.
45.0
n.a.
90.5
90.5
n.a.
20.0
18.0
8.0
9.8
0.2
510.5
165.2
324.5
73.3
2.9
18.3
52.0
251.2
1.3
0.2
0.3
(*)
0.8
249.9
15.4
72.1
34.2
62.6
99.8
97.5
2.4
20.8
18.6
8.9
9.5
0.2
2.1
15.5
n.a.
2.0
14.7
n.a.
2.2
15.9
n.a.
2.2
13.3
n.a.
2.0
12.8
n.a.
2.2
13.8
n.a.
(*) Transactions are less than $50,000,000 (±).
n.a. Data are not currently available.
1. Interest receipts and payments are not currently adjusted to exclude interest that represents charges for
services. These charges are often referred to as implicit service fees or financial intermediation services indi-
2008
2009
2011
2010
n
O
rectly measured. BEA plans to develop estimates of the portion of interest that represents such charges and
adjust the accounts to remove them from interest and include them in services.
2. Statistics currently reflect only income attributable to insurance policyholders,
SDR Special drawing rights
62
Modernizing and Enhancing BEA’s International Economic Accounts
May 2013
Table 5. Direct Investment Income and Financial Flows (Prototype)— Continues
[Billions of dollars]
2006
Line
2007
2008
2009
2010
2011
Current account: Prim ary incom e
1 Incom e receipts on direct investm ent assets, asset/liability basis (table 1, line 28 and
table 4, line 3 ) 1 .............................................................................................................................................
333.2
380.8
423.4
365.4
451.2
486.9
Less: U.S. parents’ interest payments to their foreign affiliates......................................................
Less: U.S. affiliates’ interest receipts from their foreign parent groups..........................................
3.8
4.6
3.9
6.2
4.0
5.6
3.1
4.4
2.8
4.3
2.3
4.3
Equals: Incom e receipts on U.S. direct investm ent abroad (USDIA), directional basis 2.....
324.8
370.8
413.7
357.8
444.0
480.2
Income on equity and investment fund shares (table 4, line 4)..................................................
Dividends and withdrawals.......................................................................................................
Reinvested earnings................................................................................................................
Reinvested earnings without current-cost adjustment.........................................................
Current-cost adjustment.......................................................................................................
Interest, net receipts (line 11 - line 12).......................................................................................
U.S. parents’ receipts from their foreign affiliates....................................................................
U.S. parents’ payments to their foreign affiliates.....................................................................
Income receipts on USDIA without current-cost adjustment (line 4 - line 9).................................
Manufacturing...........................................................................................................................
Wholesale trade.......................................................................................................................
Finance (including depository institutions) and insurance......................................................
Holding companies, except bank holding companies.............................................................
Other.........................................................................................................................................
Income on equity and investment fund shares without current-cost adjustment (line 5 - line 9)
Manufacturing..........................................................................................................................
Wholesale trade.......................................................................................................................
Finance (including depository institutions) and insurance.....................................................
Holding companies, except bank holding companies.............................................................
Other.........................................................................................................................................
Interest, net receipts....................................................................................................................
Manufacturing..........................................................................................................................
Wholesale trade.......................................................................................................................
Finance (including depository institutions) and insurance.....................................................
Holding companies, except bank holding companies.............................................................
Other.........................................................................................................................................
319.0
101.7
217.3
196.6
20.7
5.8
9.6
3.8
304.1
57.7
24.3
33.0
120.9
68.2
298.3
56.2
23.9
33.3
118.9
66.0
5.8
1.4
0.4
-0.3
2.0
2.2
363.4
132.8
230.5
210.0
20.5
7.4
11.3
3.9
350.2
66.4
28.5
34.9
146.6
73.8
342.8
65.3
28.2
34.6
144.1
70.7
7.4
1.1
0.4
0.3
2.5
3.1
405.5
172.4
233.1
212.3
20.8
8.2
12.2
4.0
393.0
60.1
28.8
44.6
179.7
79.7
384.8
59.1
28.5
43.8
176.4
77.0
8.2
1.1
0.3
0.8
3.4
2.7
351.6
122.3
229.3
206.8
22.5
6.2
9.3
3.1
335.3
40.3
18.3
46.8
165.7
64.3
329.1
39.5
18.0
46.5
162.9
62.1
6.2
0.7
0.3
0.2
2.7
2.2
438.5
123.2
315.3
291.8
23.5
5.6
8.4
2.8
420.6
62.0
25.4
40.8
217.5
74.9
415.0
61.3
25.1
40.5
215.1
72.9
5.6
0.7
0.3
0.2
2.3
2.0
473.3
124.6
348.6
326.0
22.7
7.0
9.3
2.3
457.6
73.8
30.0
43.8
221.3
88.7
450.6
73.2
29.7
43.4
217.5
86.8
7.0
0.6
0.3
0.4
3.8
1.9
Incom e paym ents on direct investm ent liabilities, asset/liability basis (table 1, line 61 and
table 4, line 2 7 ) 1...........................................................................................................................................
159.2
136.3
139.1
112.4
153.3
165.2
3.8
4.6
3.9
6.2
4.0
5.6
3.1
4.4
2.8
4.3
2.3
4.3
directional b a s is 3........................................................................................................................................
150.8
126.2
129.4
104.8
146.1
158.6
35 Income on equity and investment fund shares (table 4, line 28)................................................
36
Dividends and withdrawals.......................................................................................................
37
Reinvested earnings................................................................................................................
38
Reinvested earnings without current-cost adjustment.........................................................
39
Current-cost adjustment.......................................................................................................
40 Interest, net payments (line 41 - line 42)....................................................................................
41
U.S. affiliates’ payments to their foreign parent groups...........................................................
42
U.S. affiliates' receipts from their foreign parent groups..........................................................
43 Income payments on FDIUS without current-cost adjustment (line 34 - line 39)..........................
44
Manufacturing..........................................................................................................................
45
Wholesale trade.......................................................................................................................
46
Finance (including depository institutions) and insurance......................................................
47
Other.........................................................................................................................................
Income
on equity and investment fund shares without current-cost adjustment (line 35 - line
48
39).............................................................................................................................................
49
Manufacturing..........................................................................................................................
50
Wholesale trade.......................................................................................................................
51
Finance (including depository institutions) and insurance.....................................................
52
Other.........................................................................................................................................
53 Interest, net payments.................................................................................................................
54
Manufacturing..........................................................................................................................
55
Wholesale trade.......................................................................................................................
56
Finance (including depository institutions) and insurance......................................................
57
Other.........................................................................................................................................
132.3
63.2
69.1
63.1
6.0
18.4
23.0
4.6
144.8
55.3
25.3
15.4
48.8
101.8
53.6
48.2
43.0
5.2
24.4
30.6
6.2
121.0
46.9
24.2
10.6
39.3
104.9
65.7
39.1
35.4
3.7
24.6
30.2
5.6
125.7
36.3
22.7
29.8
36.9
80.9
59.3
21.7
14.8
6.8
23.9
28.3
4.4
98.0
38.3
4.4
21.9
33.4
122.7
55.1
67.5
59.6
7.9
23.5
27.8
4.3
138.2
59.0
14.3
27.6
37.3
132.9
45.5
87.4
80.3
7.1
25.7
30.0
4.3
151.5
64.9
16.3
21.8
48.6
126.3
46.5
24.3
14.5
41.0
18.4
8.8
1.0
0.9
7.8
96.6
36.2
22.9
8.5
28.9
24.4
10.6
1.4
2.0
10.4
101.1
27.7
21.1
27.5
24.8
24.6
8.6
1.6
2.3
12.0
74.1
29.4
3.2
19.5
22.0
23.9
8.9
1.2
2.4
11.4
114.7
51.1
12.9
26.0
24.7
23.5
7.9
1.3
1.6
12.6
125.8
55.4
14.7
20.4
35.4
25.7
9.5
1.6
1.4
13.2
Financial account
Net acquisition of direct investm ent assets, asset/liability basis (table 1, line 7 4 ) 4 .............
296.1
532.9
351.7
278.6
393.0
442.9
Less: U.S. parents' liabilities to their foreign affiliates.....................................................................
Less: U.S. affiliates’ claims on their foreign parent groups.............................................................
33.1
18.0
40.0
78.9
2.0
20.6
-10.0
-0.9
56.7
8.4
33.6
-10.1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32 Less: U.S. parents’ interest payments to their foreign affiliates......................................................
33 Less: U.S. affiliates’ interest receipts from their foreign parent groups..........................................
34 Equals: Incom e payments on foreign direct investm ent in the United States (FDIUS),
58
59
60
61
62
63
Equals: Financial flow s for USDIA, directional basis 5......................................................................
244.9
414.0
329.1
289.5
327.9
419.3
Equity and investment fund shares..............................................................................................
Equity other than reinvestment of earnings.............................................................................
266.3
49.0
431.4
200.9
360.1
127.0
247.5
18.2
356.4
41.1
401.0
52.4
1. These income receipts (line 1) and income payments (line 31) are presented on an asset/liability basis;
that is, data are organized according to whether the investment relates to an asset or a liability regardless of
whether the investment is U.S. direct investment abroad (USDIA) or foreign direct investment in the United
States (FDIUS). Income receipts primarily result from USDIA, but also include interest receipts associated with
U.S. affiliates’ claims (assets) on their foreign parent groups. Income payments primarily result from FDIUS, but
also include interest payments associated with U.S. parents’ liabilities to their foreign affiliates.
2. Compared with line 1, line 4 nets U.S. parents’ interest payments to their foreign affiliates against their
interest receipts from their foreign affiliates and excludes interest receipts associated with foreign direct invest
ment in the United States by subtracting U.S. affiliates’ receipts from their foreign parent groups to derive
income based on the direction of the direct investment relationship.
3. Compared with line 31, line 34 nets U.S. affiliates’ interest receipts from their foreign parent groups
against their interest payments to their foreign parent groups and excludes interest payments associated with
U.S. direct investment abroad by subtracting U.S. parents’ payments to their foreign affiliates to derive income
based on the direction of the direct investment relationship.
4. These financial flows are presented on an asset/liability basis; that is, data are organized according to
whether the investment relates to an asset or a liability regardless of whether the investment is U.S. direct
investment abroad (USDIA) or foreign direct investment in the United States (FDIUS). Direct investment assets
(line 58) consist primarily of transactions associated with USDIA, but also include flows associated with U.S.
affiliates’ claims (assets) on their foreign parent groups. Direct investment liabilities (line 96) consist primarily of
transactions associated with FDIUS, but also include flows associated with U.S. parents’ liabilities to their
foreign affiliates.
5. Compared with line 58, line 61 nets flows associated with U.S. parents’ liabilities to their foreign affiliates
against flows associated with their U.S. assets and excludes flows associated with foreign direct investment in
the United States by subtracting flows associated with U.S. affiliates’ claims on their foreign parent groups to
derive financial flows based on the direction of the direct investment relationship.
6. Compared with line 96, line 99 nets flows associated with U.S. affiliates’ claims (assets) on their foreign
parent groups against flows associated with their U.S. liabilities and excludes flows associated with U.S. direct
investment abroad by subtracting flows associated with U.S. parents’ liabilities to their foreign affiliates to derive
financial flows based on the direction of the direct investment relationship.
May 2013
63
S u r v e y o f C u r r e n t B u s in e s s
Table 5. Direct Investment Income and Financial Flows (Prototype)—Table Ends
[Billions of dollars]
Line
2006
64
Increases.............................................................................................................................
65
Decreases............................................................................................................................
66
Reinvestment of earnings........................................................................................................
67
Reinvestment of earnings without current-cost adjustment...............................................
68
Current-cost adjustment......................................................................................................
69 Debt instruments (line 70 - line 71)...........................................................................................
70
U.S. parents’ claims on their foreign affiliates.........................................................................
71
U.S. parents’ liabilities to their foreign affiliates......................................................................
72 Financial flows for USDIA without current-cost adjustment (line 61 - line 68)..............................
73
Manufacturing..........................................................................................................................
74
Wholesale trade.......................................................................................................................
75
Finance (including depository institutions) and insurance.....................................................
76
Holding companies, except bank holding companies............................................................
17
Other................................................
78 Equity other than reinvestment of earnings
79
Manufacturing..................................
80
Wholesale trade...............................
81
Finance (including depository institutions) and insurance.....................................................
82
Holding companies, except bank holding companies............................................................
83
Other.........................................................................................................................................
84 Reinvestment of earnings without current-cost adjustment.......................................................
85
Manufacturing..........................................................................................................................
86
Wholesale trade.......................................................................................................................
87
Finance (including depository institutions) and insurance.....................................................
88
Holding companies, except bank holding companies............................................................
89
Other.........................................................................................................................................
90 Debt instruments.........................................................................................................................
91
Manufacturing..........................................................................................................................
92
Wholesale trade.......................................................................................................................
93
Finance (including depository institutions) and insurance.....................................................
94
Holding companies, except bank holding companies............................................................
9b
Other.........................................................................................................................................
96 Net incurrence of direct investm ent liabilities, asset/liability basis (table 1, line 1 0 3 )4......
97 Less: U.S. parents’ liabilities to their foreign affiliates....................................................................
98 Less: U.S. affiliates’ claims on their foreign parent groups............................................................
99 Equals: Financial flows for FOIUS, directional basis 6......................................................................
100 Equity and investment fund shares............................................................................................
101
Equity other than reinvestment of earnings............................................................................
102
Increases.............................................................................................................................
103
Decreases............................................................................................................................
104
Reinvestment of earnings........................................................................................................
105
Reinvestment of earnings without current-cost adjustment...............................................
106
Current-cost adjustment.....................................................................................................
107 Debt instruments (line 108 - line 109).......................................................................................
108
U.S. affiliates’ liabilities to their foreign parent groups...........................................................
109
U.S. affiliates’ claims on their foreign parent groups..............................................................
110 Financial flows for FDIUS without current-cost adjustment (line 99 - line 106)............................
111
Manufacturing..........................................................................................................................
112
Wholesale trade.......................................................................................................................
113
Finance (including depository institutions) and insurance.....................................................
114
Other........................................................................................................................................
115 Equity other than reinvestment of earnings................................................................................
116
Manufacturing..........................................................................................................................
117
Wholesale trade.......................................................................................................................
118
Finance (including depository institutions) and insurance.....................................................
119
Other........................................................................................................................................
120 Reinvestment of earnings without current-cost adjustment.......................................................
121
Manufacturing..........................................................................................................................
122
Wholesale trade.......................................................................................................................
123
Finance (including depository institutions) and insurance.....................................................
124
Other........................................................................................................................................
125 Debt instruments.........................................................................................................................
126
Manufacturing..........................................................................................................................
127
Wholesale trade.......................................................................................................................
128
Finance (including depository institutions) and insurance.....................................................
Other........................................................................................................................................
129
1. These income receipts (line 1) and income payments (line 31) are presented on an asset/liability basis;
that is, data are organized according to whether the investment relates to an asset or a liability regardless of
whether the investment is U.S. direct investment abroad (USDIA) or foreign direct investment in the United
States (FDIUS). Income receipts primarily result from USDIA, but also include interest receipts associated with
U.S. affiliates’ claims (assets) on their foreign parent groups. Income payments primarily result from FDIUS, but
also include interest payments associated with U.S. parents’ liabilities to their foreign affiliates.
2. Compared with line 1, line 4 nets U.S. parents’ interest payments to their foreign affiliates against their
interest receipts from their foreign affiliates and excludes interest receipts associated with foreign direct invest
ment in the United States by subtracting U.S. affiliates' receipts from their foreign parent groups to derive
income based on the direction of the direct investment relationship.
3. Compared with line 31, line 34 nets U.S. affiliates’ interest receipts from their foreign parent groups
against their interest payments to their foreign parent groups and excludes interest payments associated with
U.S. direct investment abroad by subtracting U.S. parents’ payments to their foreign affiliates to derive income
based on the direction of the direct investment relationship.
4. These financial flows are presented on an asset/liability basis; that is, data are organized according to
2007
2008
2009
131.3
82.4
217.3
196.6
20.7
-21.4
11.7
33.1
224.2
42.4
14.8
19.4
97.5
50.1
49.0
12.6
0.8
7.7
27.4
0.5
196.6
39.1
15.1
19.4
85.6
37.5
-21.4
-9.3
-1.1
-7.6
-15.5
12.2
291.1
90.3
230.5
210.0
20.5
-17.3
22.7
40.0
393.5
72.0
12.9
93.0
153.6
62.2
200.9
29.8
1.8
92.3
62.3
14.7
210.0
46.0
16.0
9.8
99.6
38.5
-17.3
-3.8
-4.9
-9.2
-8.3
8.9
198.6
71.6
233.1
212.3
20.8
-31.0
-29.0
2.0
308.3
35.9
31.7
62.9
118.6
59.2
127.0
12.9
2.5
50.6
29.2
31.8
212.3
34.8
20.3
18.7
96.1
42.5
-31.0
-11.8
8.9
-6.4
-6.8
-15.1
294.3
340.1
33.1
18.0
40.0
78.9
243.2
184.1
115.0
174.8
59.8
69.1
63.1
6.0
59.0
77.1
18.0
237.1
98.5
20.9
51.4
66.3
115.0
48.7
14.1
32.6
19.6
63.1
22.1
6.7
5.8
28.5
59.0
27.8
0.0
13.0
18.2
2010
2011
92.8
74.6
229.3
206.8
22.5
42.0
31.9
-10.0
267.0
38.6
13.4
29.5
140.3
45.0
18.2
8.2
1.7
-6.7
11.4
3.5
206.8
19.3
10.9
21.6
116.6
38.4
42.0
11.2
0.8
14.6
12.3
3.1
121.1
80.0
315.3
291.8
23.5
-28.5
28.2
56.7
304.4
46.3
11.6
20.4
175.8
50.4
41.1
12.3
0.9
9.0
21.8
-2.8
291.8
36.4
17.8
24.0
161.6
52.0
-28.5
-2.4
-7.1
-12.6
-7.7
1.2
96.7
44.3
348.6
326.0
22.7
18.3
51.9
33.6
396.7
59.2
24.3
28.0
207.6
77.6
52.4
10.3
0.2
-3.0
29.3
15.6
326.0
55.5
23.3
24.2
156.8
66.2
18.3
-6.6
0.8
6.8
21.5
-4.2
332.7
139.6
271.0
257.5
2.0
20.6
-10.0
-0.9
56.7
8.4
33.6
-10.1
221.2
310.1
150.4
205.8
234.0
190.4
142.3
236.7
94.4
48.2
43.0
5.2
30.7
109.6
78.9
216.0
102.8
31.8
8.7
72.7
142.3
67.2
6.8
22.7
45.5
43.0
14.7
17.4
-2.9
13.7
30.7
20.8
7.5
-11.1
13.5
294.9
255.7
339.7
84.0
39.1
35.4
3.7
15.2
35.9
20.6
306.4
77.1
32.9
120.1
76.3
255.7
96.8
22.8
95.4
40.8
35.4
-0.8
15.5
15.5
5.2
15.2
-18.8
-5.4
9.2
30.3
148.5
126.8
171.1
44.3
21.7
14.8
6.8
2.0
1.1
-0.9
143.6
53.4
11.6
45.1
33.5
126.8
37.2
13.9
39.3
36.4
14.8
4.8
-4.1
11.8
2.3
2.0
11.4
1.8
-6.0
-5.2
199.2
131.6
180.1
48.5
67.5
59.6
7.9
6.7
15.1
8.4
197.9
86.1
29.6
48.2
34.0
131.6
46.9
10.2
40.4
34.2
59.6
23.5
7.6
15.8
12.7
6.7
15.7
11.8
-8.0
-12.9
180.6
93.2
132.9
39.7
87.4
80.3
7.1
53.4
43.3
-10.1
226.9
90.9
25.7
26.5
83.9
93.2
35.3
-0.1
24.0
34.0
80.3
39.9
9.6
5.5
25.3
53.4
15.6
16.2
-3.0
24.6
whether the investment relates to an asset or a liability regardless of whether the investment is U.S. direct
investment abroad (USDIA) or foreign direct investment in the United States (FDIUS). Direct investment assets
(line 58) consist primarily of transactions associated with USDIA, but also include flows associated with U.S.
affiliates’ claims (assets) on their foreign parent groups. Direct investment liabilities (line 96) consist primarily of
transactions associated with FDIUS, but also include flows associated with U.S. parents’ liabilities to their
foreign affiliates.
5. Compared with line 58, line 61 nets flows associated with U.S. parents’ liabilities to their foreign affiliates
against flows associated with their U.S. assets and excludes flows associated with foreign direct investment in
the United States by subtracting flows associated with U.S. affiliates’ claims on their foreign parent groups to
derive financial flows based on the direction of the direct investment relationship.
6. Compared with line 96, line 99 nets flows associated with U.S. affiliates’ claims (assets) on their foreign
parent groups against flows associated with their U.S. liabilities and excludes flows associated with U.S. direct
investment abroad by subtracting flows associated with U.S. parents’ liabilities to their foreign affiliates to derive
financial flows based on the direction of the direct investment relationship.
64
Modernizing and Enhancing BEA’s International Economic Accounts
May 2013
Table 6. Portfolio Investment (Prototype)
[Billions of dollars]
2007
2006
Line
2008
2009
2010
2011
Assets and liabilities by instrum ent
A1 Net acquisition of portfolio investm ent assets (table 1, line 8 1 )....................................................
2
Equity and investment fund shares.............................................................................................
Of which: Investment fund shares...........................................................................................
3
4 Debt securities..............................................................................................................................
Short term.................................................................................................................................
5
6
Negotiable certificates of deposit........................................................................................
7
Commercial paper................................................................................................................
Other short-term securities..................................................................................................
8
Longterm..................................................................................................................................
9
10
Of which: Negotiable certificates of deposit........................................................................
11 Net incurrence of portfolio investm ent liabilities (table 1, line 1 1 0 ).............................................
12 Equity and investment fund shares.............................................................................................
13
Of which: Investment fund shares...........................................................................................
14 Debt securities.......................................
Short term..........................................
15
16
Treasury securities.........................
17
Federally sponsored agency securities...............................................................................
18
Negotiable certificates of deposit...
Other securities, including commercial paper.....................................................................
19
Longterm..................................................................................................................................
20
21
Treasury securities...............................................................................................................
22
Federally sponsored agency securities...............................................................................
Negotiable certificates of deposit........................................................................................
23
24
Corporate securities.............................................................................................................
25
State and local government securities................................................................................
493.7
379.7
-2 8 5 .7
375.1
174.9
83.0
137.3
n.a.
356.4
116.1
66.3
18.9
30.9
240.3
12.5
147.8
n.a.
231.9
14.6
-3.1
-1.7
19.4
217.3
-1.4
-38.5
n.a.
-247.2
-84.0
-29.9
-12.9
-41.3
-163.2
-4.4
63.7
n.a.
311.4
135.5
62.2
64.8
8.6
175.9
12.6
79.1
n.a.
95.8
44.4
-20.7
17.1
48.0
51.4
-8.5
89.0
10.7
-6.1
-60.4
-32.0
-22.0
-6.4
54.3
-3.4
1,126.7
1,156.6
523.7
357.4
808.9
336.6
145.5
n.a.
981.3
25.4
-11.4
-22.9
10.3
49.3
955.9
161.7
245.6
2.2
546.3
n.a.
275.6
n.a.
881.0
166.6
49.4
87.4
28.7
1.1
714.4
115.9
162.7
0.5
435.3
n.a.
126.8
n.a.
396.9
297.3
455.3
-98.8
3.5
-62.7
99.6
256.3
-129.9
-10.9
-16.0
n.a.
219.3
n.a.
138.1
-122.5
-7.6
-49.2
-17.3
-48.4
260.5
562.0
-176.8
-5.1
-119.6
n.a.
177.6
n.a.
631.3
-60.3
-40.2
-9.7
-4.3
-6.1
691.6
780.0
-62.6
-1.9
-23.9
n.a.
27.4
5.5
309.3
-81.6
-62.0
-11.7
-7.6
-0.2
390.9
474.1
-12.4
-1.0
-68.4
-1.4
493.7
n.a.
379.7
n.a.
-2 8 5 .7
n.a.
375.1
n.a.
174.9
n.a.
83.0
3.3
n.a.
n.a.
3.2
n.a.
n.a.
n.a.
30.0
n.a.
n.a.
n.a.
-28.5
n.a.
n.a.
n.a.
-1.5
n.a.
n.a.
n.a.
4.2
n.a.
1.8
1.5
-0.2
1.8
n.a.
n.a.
n.a.
n.a.
n.a.
60.9
n.a.
n.a.
104.1
n.a.
n.a.
n.a.
-13.9
n.a.
n.a.
n.a.
-55.5
n.a.
n.a.
n.a.
133.7
n.a.
n.a.
n.a.
37.7
n.a.
75.7
-14.8
-57.0
42.2
n.a.
n.a.
n.a.
n.a.
n.a.
18.8
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
11.6
7.2
-3.2
10.4
1,126.7
n.a.
1,156.6
n.a.
523.7
n.a.
357.4
n.a.
808.9
n.a.
336.6
-1 5 .5
n.a.
n.a.
26.9
n.a.
n.a.
n.a.
44.3
n.a.
n.a.
n.a.
-19.8
n.a.
n.a.
n.a.
-16.5
n.a.
n.a.
n.a.
-21.2
n.a.
1.1
-16.6
-6.7
-9.9
n.a.
n.a.
n.a.
n.a.
n.a.
20.8
n.a.
n.a.
222.7
-22.9
245.6
n.a.
37.6
n.a.
n.a.
n.a.
250.1
87.4
162.7
n.a.
-11.6
n.a.
n.a.
n.a.
-228.6
-98.8
-129.9
n.a.
-27.8
n.a.
n.a.
n.a.
-226.0
-49.2
-176.8
n.a.
-21.5
n.a.
n.a.
n.a.
-72.3
-9.7
-62.6
n.a.
7.8
n.a.
6.8
13.9
-24.2
-11.7
-12.4
38.1
60.0
-21.9
n.a.
n.a.
n.a.
n.a.
n.a.
-7 9 .3
n.a.
n.a.
-4.9
n.a.
n.a.
n.a.
-2.8
n.a.
n.a.
n.a.
-11.7
n.a.
n.a.
n.a.
-27.7
n.a.
n.a.
n.a.
3.0
n.a.
19.4
-98.7
-61.1
-37.6
150.3
165.3
711.6
554.4
739.8
410.7
150.3
-11.4
161.7
165.3
49.4
115.9
711.6
455.3
256.3
554.4
-7.6
562.0
739.8
-40.2
780.0
410.7
-62.0
472.7
Assets by sector of U.S. holder
B1 Net acquisition of portfolio investm ent assets (table 1, line 8 1 )....................................................
2 Deposit-taking institutions, except central b a n k .............................................................................
Equity and investment fund shares.........................................................................................
3
4
Debt securities.........................................................................................................................
Short term............................................................................................................................
5
6
Long term..............................................................................................................................
7 O ther financial in stitu tio n s......................................................................................................................
8
Equity and investment fund shares.........................................................................................
Debt securities.........................................................................................................................
9
Short term............................................................................................................................
10
11
Long term..............................................................................................................................
12 Nonfinancial institutions, except general governm ent.................................................................
13
Equity and investment fund shares.........................................................................................
14
Debt securities.........................................................................................................................
15
Short term............................................................................................................................
16
Long term.............................................................................................................................
Liabilities by sector of U.S. issuer
17 Net incurrence of portfolio investm ent liabilities (table 1, line 1 1 0 ).............................................
18 Deposit-taking institutions, except central b a n k .............................................................................
19
Equity and investment fund shares.........................................................................................
20
Debt securities.........................................................................................................................
21
Short term............................................................................................................................
22
Long term..............................................................................................................................
23 O ther financial in stitu tio n s ......
24
Equity and investment fund shares.........................................................................................
25
Debt securities........................
26
Federally sponsored agencies
Short term.......................
27
28
Long term........................
Other.....................................................................................................................................
29
Short
term........................................................................................................................
30
Long term.........................................................................................................................
31
32 Nonfinancial institutions, except general g o vernm ent.................................................................
33
Equity and investment fund shares.........................................................................................
34
Debt securities.........................................................................................................................
Short term............................................................................................................................
35
36
Long term.............................................................................................................................
37 General governm ent...................................................................................................................................
38
Debt securities.........................................................................................................................
39
Short term............................................................................................................................
40
Long term.............................................................................................................................
n.a. Data are not available for these transactions prior to 2011.
May 2013
S urvey
of
C urren t B
65
u s in e s s
Table 7. Other Investment (Prototype)
[Billions of dollars]
Line
2006
Assets and liabilities by instrum ent
A1 Net acquisition of other investm ent assets (table 1, line 8 6 )..........................................................
2007
2008
2009
2010
2011
549.5
659.8
-3 8 0 .3
-5 9 7 .3
434.8
-3 4 .5
n.a.
298.6
247.3
n.a.
3.5
n.a.
n.a.
358.9
290.2
n.a.
10.7
n.a.
n.a.
265.8
-642.4
n.a.
-3.7
n.a.
n.a.
-413.6
-184.2
n.a.
0.5
n.a.
n.a.
178.7
250.1
n.a.
6.0
n.a.
n.a.
-80.7
43.6
n.a.
2.6
n.a.
695.3
686.9
-40 2 .4
-19 3 .4
293.6
430.4
n.a.
301.3
388.4
n.a.
5.7
n.a.
0.0
n.a.
240.7
425.6
n.a.
20.6
n.a.
0.0
n.a.
111.8
-520.9
n.a.
6.7
n.a.
0.0
n.a.
-98.5
-148.9
n.a.
6.4
n.a.
47.6
n.a.
93.5
180.5
n.a.
19.6
n.a.
0.0
n.a.
457.3
-43.6
n.a.
16.7
n.a.
0.0
B1 Net acquisition of other investm ent assets (table 1, line 8 6 )..........................................................
2 Central b a n k .................................................................................................................................................
3
Currency and deposits.............................................................................................................
4
Loans.......................................................................................................................................
5
Trade credits and advances....................................................................................................
6 Deposit-taking institutions, except central b a n k ...........................................................................
7
Of which: Interbank transactions........................................................................................
Currency and deposits.............................................................................................................
8
Loans.......................................................................................................................................
9
m
Trade credits and advances....................................................................................................
549.5
0.0
659.8
24.0
-38 0 .3
529.7
-59 7 .3
-54 3 .5
434.8
-1 0 .2
-3 4 .5
99.7
0.0
24.0
529.7
-543.5
-10.2
99.7
244.7
327.0
-13 1 .3
124.1
168.5
46.9
212.7
176.9
67.8
270.0
38.6
288.4
-147.5
33.4
-164.7
182.7
246.7
-122.6
150.7
81.2
87.3
-51.5
-41.0
87.9
11
310.1
310.5
-7 7 8 .7
-180.1
273.9
-185.1
121.7
184.9
n.a.
3.5
296.3
3.5
n.a.
10.7
-297.3
-477.6
n.a.
-3.7
-116.9
-63.7
n.a.
0.5
107.7
160.1
n.a.
6.0
-139.5
-48.2
n.a.
2.6
-5 .3
-1 .7
-0.1
2.1
2.7
3.9
-5.3
-1.7
-0.1
2.1
2.7
3.9
695.3
2.2
686.9
-1 0 .7
-4 0 2 .4
29.2
-1 9 3 .4
12.6
293.6
28.3
430.4
55.0
2.2
-10.7
29.2
12.6
28.3
55.0
298.5
285.3
235.5
-1 5 7 .2
104.6
339.1
235.2
261.6
36.9
206.3
173.1
112.2
267.5
107.4
128.1
-55.8
-56.9
-100.3
114.6
30.1
74.5
161.5
396.4
-57.3
391.8
406.8
-676.1
-107.1
148.3
27.2
37.5
351.5
n.a.
2.9
78.3
313.4
n.a.
15.1
-24.8
-649.0
n.a.
-2.3
-54.2
-48.6
n.a.
-4.2
35.2
105.9
n.a.
7.3
5.9
13.7
n.a.
7.6
2.8
5.4
9.0
58.2
12.3
9.1
2.8
0.0
5.4
0.0
9.0
0.0
10.6
47.6
12.3
0.0
9.1
0.0
2 Other equity.................................................................................................................................
3 Currency and deposits................................................................................................................
4 Loans ..........................................................................................................................................
5 Insurance, pension, and standardized guarantee schemes......................................................
6 Trade credits and advances........................................................................................................
7 Other accounts receivable...........................................................................................................
8 Net incurrence of other investm ent liabilities (table 1, line 1 1 5 )..................................................
9 Other equity.................................................................................................................................
10 Currency and deposits................................................................................................................
11 Loans ..........................................................................................................................................
12 Insurance, pension, and standardized guarantee schemes......................................................
13 Trade credits and advances........................................................................................................
14 Other accounts payable...............................................................................................................
15 Special drawing rights.................................................................................................................
Assets by sector of U.S. holder
12
13
14
15
16
17
18
19
O ther financial institutions and nonfinancial institutions, except general government
Currency and deposits.............................................................................................................
Loans....................................
Insurance, pension, and standardized guarantee schemes..................................................
Trade credits and advances.
General go vern m en t..............
Currency and deposits.........
Loans....................................
Trade credits and advances....................................................................................................
Liabilities by sector of U.S. issuer
20 Net incurrence of other investm ent liabilities (table 1, line 1 1 5 )..................................................
21 Central b a n k .................................................................................................................................................
22
Currency and deposits............................................................................................................
Loans.......................................................................................................................................
?3
94
Trade credits and advances....................................................................................................
25 Deposit-taking institutions, except central b a n k ...........................................................................
Of which: Interbank transactions........................................................................................
26
27
Currency and deposits.............................................................................................................
28
Loans.......................................................................................................................................
?9
Trade credits and advances....................................................................................................
30 O ther financial institutions and nonfinancial institutions, except general governm ent
Currency and deposits.............................................................................................................
31
32
Loans.......................................................................................................................................
33
Insurance, pension, and standardized guarantee schemes..................................................
34
Trade credits and advances....................................................................................................
35 G eneral g o ve rn m en t.................................................................................................................................
3fi
Currency and deposits.............................................................................................................
37
Loans.......................................................................................................................................
Trade credits and advances....................................................................................................
38
39
Special drawing rights............................................................................................................
n.a. Data are not currently available.
........Not applicable
66
Modernizing and Enhancing BEA’s International Economic Accounts
May 2013
Table 7.1. Other Investment by Sector, Instrument, Institution Type, and Currency (Prototype)
[Billions of dollars]
Line
1 Net acquisition of other investm ent assets (table 1, line 8 6 ) ..........................................................
2 Central b a n k ..................................................................................................................................................
By instrument:
3
Currency and deposits, denominated in foreign currencies...............................................
4 Deposit-taking institutions, except central b a n k .............................................................................
By instrument:
Currency and deposits.........................................................................................................
5
6
Of which: Resale agreements.........................................................................................
7
Loans ....................................................................................................................................
By type of institution:
8
U.S.-owned banks................................................................................................................
9
Transactions with foreign banks (interbank)....................................................................
10
Transactions with official and other foreigners.................................................................
11
Foreign-owned banks...........................................................................................................
Transactions with foreign banks (interbank)....................................................................
12
13
Transactions with official and other foreigners.................................................................
By currency:
14
Denominated in U.S. dollars.................................................................................................
Denominated in foreign currencies......................................................................................
15
16 O ther financial institutions and nonfinancial institutions, except general governm ent...
By instrument:
17
Currency and deposits.........................................................................................................
18
Loans ....................................................................................................................................
19
Of which: Resale agreements.........................................................................................
20
Insurance, pension, and standardized guarantee schemes...............................................
21
Trade credits and advances..................................................................................................
By type of institution:
22
Securities brokers and dealers.............................................................................................
Financial and bank holding companies...............................................................................
23
24
Insurance companies...........................................................................................................
Other.....................................................................................................................................
25
By currency:
26
Denominated in U.S. dollars.................................................................................................
27
Denominated in foreign currencies......................................................................................
28 G eneral governm ent...................................................................................................................................
By instrument:
29
Loans ....................................................................................................................................
30 Net incurrence of other investm ent liabilities (table 1, line 115 )....................................................
31 Central b a n k ...................................................................................................................................................
By instrument:
Currency and deposits, denominated in U.S. dollars..........................................................
32
33 Deposit-taking institutions, except central b a n k .............................................................................
By instrument:
34
Currency and deposits.........................................................................................................
Of which: Repurchase agreements.................................................................................
35
36
Loans ....................................................................................................................................
By type of institution:
37
U.S.-owned banks................................................................................................................
Transactions with foreign banks (interbank)....................................................................
38
39
Transactions with official and other foreigners.................................................................
40
Foreign-owned banks...........................................................................................................
41
Transactions with foreign banks (interbank)....................................................................
42
Transactions with official and other foreigners.................................................................
By currency:
Denominated in U.S. dollars.................................................................................................
43
44
Denominated in foreign currencies......................................................................................
45 O ther financial institutions and nonfinancial institutions, except general governm ent...
By instrument:
46
Currency and deposits.........................................................................................................
47
Loans....................................................................................................................................
48
Of which: Repurchase agreements.................................................................................
Insurance, pension, and standardized guarantee schemes...............................................
49
50
Trade credits and advances..................................................................................................
By type of institution:
51
Securities brokers and dealers............................................................................................
Financial and bank holding companies...............................................................................
52
53
Insurance companies...........................................................................................................
Other.....................................................................................................................................
54
By currency:
Denominated in U.S. dollars................................................................................................
55
Denominated in foreign currencies......................................................................................
56
57 G eneral governm ent...................................................................................................................................
By instrument:
Trade credits and advances, denominated in U.S. dollars..................................................
58
Special drawing rights..........................................................................................................
59
n.a. Data are not currently available.
2006
2007
549.5
0.0
2008
659.8
24.0
2009
2010
2011
-3 8 0 .3
529.7
-5 9 7 .3
-5 4 3 .5
434.8
-1 0 .2
-3 4 .5
99.7
0.0
24.0
529.7
-543.5
-10.2
99.7
244.7
327.0
-1 3 1 .3
124.1
168.5
46.9
176.9
12.5
67.8
38.6
11.2
288.4
33.4
-6.2
-164.7
246.7
-14.2
-122.6
81.2
0.3
87.3
-41.0
24.6
87.9
86.2
31.8
54.4
158.5
180.9
-22.4
111.5
67.5
44.0
215.5
202.5
13.0
61.5
30.3
31.2
-192.7
-177.8
-15.0
-87.9
32.5
-120.4
212.0
150.2
61.8
134.2
159.4
-25.1
34.3
-8.7
43.0
172.0
152.1
19.9
-125.0
-203.7
78.6
234.1
10.6
312.3
14.8
-88.6
-42.7
162.8
-38.7
160.4
8.1
7.3
39.6
310.1
310.5
-7 7 8 .7
-180.1
273.9
-185.1
121.7
184.9
62.0
n.a
3.5
296.3
3.5
96.3
n.a
10.7
-297.3
-477.6
-363.0
n.a
-3.7
-116.9
-63.7
61.0
n.a
0.5
107.7
160.1
203.6
n.a
6.0
-139.5
-48.2
57.3
n.a
2.6
68.4
9.9
n.a
231.9
103.1
71.0
n.a
136.4
-530.1
205.1
n.a
-453.6
41.0
19.4
n.a
-240.5
262.8
3.6
n.a
7.4
59.3
-190.2
n.a
-54.2
291.5
18.6
254.1
56.4
-781.7
3.0
-184.4
4.3
265.7
8.2
-182.9
-2.3
-5 .3
-1 .7
-0 .1
2.1
2.7
3.9
-5.3
-1.7
-0.1
2.1
2.7
3.9
695.3
2.2
686.9
-1 0 .7
-4 0 2 .4
29.2
-1 9 3 .4
12.6
293.6
28.3
430.4
55.0
2.2
-10.7
29.2
12.6
28.3
55.0
298.5
285.3
235.5
-15 7 .2
104.6
339.1
261.6
9.8
36.9
173.1
9.1
112.2
107.4
34.3
128.1
-56.9
-17.2
-100.3
30.1
-8.1
74.5
396.4
49.8
-57.3
168.6
145.0
23.6
129.8
90.2
39.7
241.4
162.8
78.6
43.9
43.5
0.4
166.2
172.7
-6.5
69.3
94.8
-25.5
-55.7
-45.1
-10.6
-101.5
-10.8
-90.7
-6.1
65.5
-71.6
110.7
49.1
61.7
-109.2
-127.2
18.0
448.3
288.6
159.7
267.4
31.0
251.9
33.4
299.8
-64.2
-96.3
-60.8
111.5
-6.9
295.4
43.7
391.8
406.8
-676.1
-107.1
148.3
27.2
37.5
351.5
65.6
n.a
2.9
78.3
313.4
64.4
n.a
15.1
-24.8
-649.0
-597.8
n.a
-2.3
-54.2
-48.6
-45.5
n.a
-4.2
35.2
105.9
74.4
n.a
7.3
5.9
13.7
79.0
n.a
7.6
61.3
-15.4
n.a
345.9
159.0
30.3
n.a
217.5
-741.5
148.5
n.a
-83.2
-52.2
-55.4
n.a
0.5
122.5
-14.6
n.a
40.4
67.3
-41.0
n.a
0.9
350.1
41.7
313.1
93.7
-653.7
-22.4
-83.1
-24.0
150.4
-2.1
-18.1
45.3
2.8
5.4
9.0
58.2
12.3
9.1
2.8
0.0
5.4
0.0
9.0
0.0
10.6
47.6
12.3
0.0
9.1
0.0
May 2013
67
S u r v e y o f C u r r e n t B u s in e s s
Table 8. Portfolio and Other Investment Liabilities to Foreign Official Agencies (Prototype)
[Billions of dollars]
Line
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
2007
2006
Liabilities by instrum ent
A1 Net incurrence of liabilities to foreign official agencies (part of table 1, line 1 0 2 ).................
2 Portfolio investm ent (part o f table 1, line 110)..................................................................................
Equity and investment fund shares.
Of which: Investment fund shares
Debt securities................................
Shortterm...................................
Treasury securities...........................................................................................................
Federally sponsored agency securities...........................................................................
Negotiable certificates of deposit....................................................................................
Other securities, including commercial paper.................................................................
Long term............................................................................................................................
Treasury securities...........................................................................................................
Federally sponsored agency securities...........................................................................
Negotiable certificates of deposit....................................................................................
Other securities, including corporate bonds....................................................................
O ther investm ent (part of table 1, line 115)
Currency and deposits...............................
Loans.........................................................
Trade credit and advances.........................
Special drawing rights.............................................................................................................
2008
2009
2010
2011
487.9
444.0
481.0
441.9
554.6
576.9
480.3
452.9
398.2
395.8
211.8
160.0
5.8
n.a.
438.2
-43.7
-25.0
-23.0
0.2
4.1
481.9
233.6
219.8
-0.1
28.6
45.1
n.a.
396.8
96.3
21.7
60.2
6.5
8.0
300.4
76.7
171.5
0.7
51.6
68.9
n.a.
508.0
155.6
272.4
-98.3
-5.0
-13.6
352.4
276.2
42.7
-1.6
35.0
55.9
n.a.
396.9
19.7
57.1
-30.9
-2.6
-3.9
377.2
512.8
-132.6
-0.6
-2.3
39.7
n.a.
356.0
-63.1
-64.9
-0.3
1.8
0.3
419.1
506.9
-88.7
0.1
0.8
15.0
1.5
145.1
-116.2
-103.4
-10.1
-1.4
-1.2
261.2
274.6
-12.4
(*)
-0.9
43.9
39.2
-2 2 .2
27.4
2.4
51.8
14.2
26.9
2.8
0.0
10.0
23.7
5.4
0.0
51.0
-82.2
9.0
0.0
-22.2
-8.6
10.6
47.6
-16.8
6.9
12.3
0.0
48.1
-5.4
9.1
0.0
487.9
444.0
n.a
481.0
441.9
n.a
554.6
576.9
n.a
480.3
452.9
n.a
398.2
395.8
n.a
211.8
160.0
-1.1
n.a
n.a
1.2
n.a
n.a
n.a
10.1
n.a
n.a
n.a
-8.9
n.a
n.a
n.a
-3.2
n.a
n.a
n.a
1.6
n.a
0.7
-1.8
-1.7
-0.1
n.a
n.a
n.a
n.a
n.a
-2 1 .6
n.a
n.a
196.8
-23.0
219.8
n.a
3.1
n.a
n.a
n.a
231.6
60.2
171.5
n.a
4.4
n.a
n.a
n.a
-55.6
-98.3
42.7
n.a
-9.6
n.a
n.a
n.a
-163.5
-30.9
-132.6
n.a
-3.3
n.a
n.a
n.a
-89.0
-0.3
-88.7
n.a
0.5
n.a
2.2
-23.8
-22.5
-10.1
-12.4
-1.3
-0.9
-0.3
n.a
n.a
n.a
n.a
n.a
11.5
n.a
n.a
n.a
n.a
n.a
n.a
n.a
n.a
n.a
n.a
n.a
n.a
n.a
n.a
n.a
n.a
n.a
n.a
n.a
n.a
12.0
-0.5
0.0
-0.5
208.6
98.4
548.7
569.9
442.0
171.2
208.6
-25.0
233.6
98.4
21.7
76.7
548.7
272.4
276.2
569.9
57.1
512.8
442.0
-64.9
506.9
171.2
-103.4
274.6
43.9
16.7
39.2
7.6
-22 .2
49.0
27.4
-1 8 .0
2.4
-1 6 .4
51.8
44.3
14.1
2.6
10.1
-2.5
50.8
-1.8
-21.9
4.0
-16.9
0.5
47.9
-3.6
24.5
26.1
-8 0 .3
-1 2 .8
6.5
-1 .5
0.2
24.3
-0.1
26.2
0.2
-80.4
-0.2
-12.6
0.1
6.4
0.3
-1.8
2.8
5.4
9.0
58.2
12.3
9.1
2.8
0.0
5.4
0.0
9.0
0.0
10.6
47.6
12.3
0.0
9.1
0.0
Liabilities by sector o f U.S. issuer
B1 N et incurrence o f liabilities to foreign official agencies (part of table 1, line 1 0 2 ).................
2 Portfolio investm ent (part of table 1, line 110).................................................................................
3
Deposit-taking institutions, except central b ank........................................................................
4
Equity and investment fund shares.....................................................................................
Debt securities.....................................................................................................................
5
6
Shortterm........................................................................................................................
7
Long term.........................................................................................................................
8
O ther financial institutions.................................................................................................................
Equity and investment fund shares.....................................................................................
9
10
Debt securities.....................................................................................................................
11
Federally sponsored agency securities...........................................................................
12
Short term....................................................................................................................
13
Longterm.....................................................................................................................
14
Other.....
Short term
15
Long term
16
17
Nonfinancial institutions, except general governm ent............................................................
18
Equity and investment fund shares.....................................................................................
19
Debt securities
Short term........................................................................................................................
20
21
Long term.........................................................................................................................
22
General governm ent (Treasury securities)....................................................................................
23
Debt securities.....................................................................................................................
Short term........................................................................................................................
24
Longterm.........................................................................................................................
25
26 O ther investm ent (part of table 1, line 115).......................................................................................
27
Deposit-taking institutions, except central b ank........................................................................
28
Currency and deposits.........................................................................................................
29
Loans...................................................................................................................................
30
O ther financial institutions and nonfinancial institutions, except general governm ent
Currency and deposits.........................................................................................................
31
32
Loans...................................................................................................................................
G eneral governm ent..............................................................................................................................
33
34
Trade credit and advances...................................................................................................
35
Special drawing rights..........................................................................................................
(*) Transactions are less than $50,000,000 (±).
n.a. Data are not currently available.
D-1
May 2013
B E A
A
C u rre n t
s e le c tio n
A n a ly s is
o f e s tim a te s f r o m
a n d
th e
( B E A ) a re p re s e n te d in
H is to ric a l
D a ta
n a t io n a l, in d u s t r y , in t e r n a t io n a l, a n d
r e g io n a l a c c o u n ts
t h i s s e c t i o n . B E A ’s e s t im a t e s a r e n o t c o p y r i g h t e d
o f th e
B u re a u
o f E c o n o m ic
a n d m a y b e r e p r i n t e d w i t h o u t B E A ’s
Survey of C u r r e n t B u s i n e s s a n d B E A a s t h e s o u r c e i s a p p r e c i a t e d .
More detailed estimates from BEA’s accounts are available on BEA’s Web site at www.bea.gov. These estimates are
available in a variety of formats. In addition, news releases, articles, and other information, including methodologies
and working papers, are available.
p e r m is s io n . C it in g th e
The tables present annual [A], quarterly [Q], and monthly [M] data.
N
a tio n a l
D a ta
A. Selected NIPA tables [A,Q]
1. Domestic product and income............................D-2
2. Personal income and outlays...............................D-22
3. Government current receipts and expenditures ...D-27
4. Foreign transactions............................................ D-3 8
5. Saving and investment........................................ D-42
6. Income and employment by industry................. D-49
7. Supplemental tables............................................. D-50
B. NIPA-related table
B.l Personal income and its disposition [A, M]......D-54
C. Historical measures [A, Q]
C.l GDP and other major NIPA aggregates............ D-55
D. Charts
Selected NIPA series................................................ D-59
I n d u s t r y
D a ta
E. Industry table
E.l Value added by industry [A]..............................D-65
I n t e r n a t io n a l
D a ta
F. Transactions tables
F.l U.S. international transactions in goods
and services [A, M ]........................................ D-66
F.2 U.S. international transactions [A, Q]............... D-67
F.3 U.S. international transactions by area [Q]........D-68
F.4 Private services transactions [A]........................D-71
G. Investm ent tables [A]
G.l U.S. international investment position............ D-72
G.2 USDIA: Selected items......................................D-73
G.3 Selected financial and operating data of foreign
affiliates of U.S. companies..........................D-74
G.4 FDIUS: Selected items...................................... D-75
G.5 Selected financial and operating data of U.S.
affiliates of foreign companies.....................D-76
H. Charts
The United States in the international economy.....D-77
R e g io n a l D a ta
I. State and regional tables
1.1 Personal income [Q].......................................... D-78
1.2 Personal income and per capita
personal income [A]....................................... D-79
1.3 Disposable personal income and per capita
disposable personal income [A]..................... D-80
1.4 Gross domestic product by state [A].................. D-81
J. Local area tables
J. 1 Personal income and per capita personal income
by metropolitan area [A]................................D-82
J.2 Gross domestic product by metropolitan area
for industries [A]............................................ D-8 7
K. Charts
Selected regional estimates...................................... D-91
A p p e n d ix e s
A. Additional information about the NIPA estim ates
Statistical conventions............................................. D-93
Reconciliation table [A, Q]..................................... D-94
B. Suggested read in g ............................................ D-95
D-2
May 2013
National Data
A .
S e le c te d
N IP A
T a b le s
The selected set of NIPA tables presents the most recent estimates of gross domestic product (GDP) and its
components, which were released on April 26, 2013. These estimates include the advance estimates for the first
quarter of 2013.
The selected set presents quarterly estimates that are updated monthly. Annual estimates are presented in
most of the tables. Estimates for all NIPA series for 1929 forward are on BEA’s Web site at www.bea.gov.
The GDP news release is available on BEA’s Web site within minutes after the release. To receive an e-mail no
tification of the release, go to www.bea.gov and subscribe. The “Selected NIPA Tables” are available later that
day.
1. Domestic Product and Income
Table 1.1.1. Percent Change From Preceding Period in Real
Gross Domestic Product
Table 1.1.2. Contributions to Percent Change
in Real Gross Domestic Product
[P erc ent]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Gross domestic product........
Personal consumption
expenditures.................................
G oo ds..................................................
Durable g o o d s ..............................
N ondurable g o o d s .......................
S e rv ic e s .............................................
Gross private domestic
investment.....................................
Fixed investm ent...............................
N onre sidentia l..............................
S tructures..................................
Equipm ent and softw are.......
R esidential.....................................
E x p o rts ...............................................
G oo ds.............................................
S e rv ic e s ........................................
Im p o rts...............................................
G oo ds.............................................
S e rv ic e s ........................................
Government consumption
expenditures and gross
investment.....................................
F e d e ra l................................................
National defense..........................
N ond efense...................................
State and local...................................
1
II
IV
III
2.0
1.3
3.1
0.4
2.5
2.5
1.9
1.5
1.6
1.8
3.2
3.8
7.2
2.3
1.9
3.1
7.8
0.9
1.2
4.7
11.5
1.6
1.3
0.3
-0 .2
0.6
2.1
3.6
8.9
1.2
0.6
4.3
13.6
0.1
0.6
3.3
8.1
1.0
3.1
6.6
1.3
12.3
0.9
-1 .8
0.0
-2 .6
13.5
14.0
13.2
16.7
11.8
17.6
4.1
2.1
-0 .3
3.0
12.6
-2 .8
-5 .0
2.5
-4 .2
-3 .9
- 5 .6
2.9
3.5
1.5
5.4
5.2
6.0
/
8
9
10
11
12
13
5.2
9.8
6.1
0.7
6.6
8.6
2.7
11.0
-1 .4
8.7
8.0
10.8
6.9
12.1
9.8
7.5
12.9
5.4
20.5
4.5
3.6
0.6
4.8
8.5
6.7
7.2
5.6
4.8
5.2
2.8
3.4
4.2
1.5
2.4
2.1
4.2
4.4
4.0
5.2
3.1
2.0
9.0
5.3
7.0
1.1
2.8
2.9
2.3
1.9
1.1
4.0
-0 .6
-1 .2
2.6
21
22
23
24
25
-3.1
-1.7
-3.0
-0.7
3.9
-7.0
-4.1
-2 .8
-2 .6
-3 .1
-3 .4
- 2 .2
-3 .1
-0 .3
- 1 .4
-7 .1
1.8
-2 .2
-0 .2
- 0 .2
-0 .4
-1 .0
9.5
12.9
3.0
0.3
-1 4 .8
-22.1
1.7
- 1 .5
-8 .4
-1 1 .5
-2 .0
-1 .2
26
4.0
4.0
4.2
2.8
5.9
1.3
3.7
-4.2
Addendum:
Gross dom estic product, current
d olla rs.............................................
2011
2012
Percent change at annual rate:
Gross domestic product........
Percentage points at annual rates:
Personal consumption
expenditures.................................
G o o d s ..................................................
Durable g o o d s ..............................
Nondurable g o o d s .......................
S ervices..............................................
Gross private domestic
investment.....................................
Fixed investm ent...............................
Nonresidential...............................
S tru c tu re s.................................
Equipm ent and so ftw a re .......
R esidential.....................................
C hange in private in ve n to rie s.......
Net exports of goods and services
E x p o rts ................................................
G o o d s .............................................
S ervic es..........................................
Im ports.................................................
G o o d s .............................................
S ervices..........................................
Government consumption
expenditures and gross
investment.....................................
Federal.................................................
National defe nse..........................
N o nd efense..................................
State and lo c a l..................................
1.3
IV
I
1.8
2
3
4
5
6
1.79
1.32
1.72
0.89
0.53
0.36
0.90
0.74
0.58
0.15
0.58
1.11
0.85
0.26
0.61
0.62
1.19
0.78
0.76
0.80
0.07
0.72
-0 .0 3
-0 .1 4
1.05
0.78
0.29
0.49
0.27
0.14
1.18
0.74
0.35
0.39
0.43
-0 .3 9
0.07
0.04
0.06
0.23
0.87
0.65
0.22
-0 .8 0
-0 .7 2
-0 .0 8
0.47
0.41
0.06
-0 .4 3
-0.31
-0 .1 2
0.60
0.39
0.21
-0 .5 4
-0 .2 9
-0 .2 5
0.72
0.67
0.05
-0 .4 9
-0 .4 2
-0 .0 7
-0.67
-0.34
-0.60
-0.14
0.75
-1.41
-0.80
-0 .2 3
-0 .1 5
-0 .0 9
-0 .4 3
-0 .1 8
-0 .1 7
-0.01
-0 .1 7
-0 .3 4
-0 .3 9
0.05
-0 .2 6
-0 .0 2
-0.01
-0.01
-0 .1 2
0.71
0.64
0.08
0.04
-1 .2 3
-1 .2 8
0.04
-0 .1 8
-0 .6 5
-0 .6 0
-0 .0 5
-0 .1 4
21
22
23
24
25
2.0
III
1
7
8
9
10
11
12
13
14
15
16
17
18
19
20
2.2
2013
2012
II
I
2.4
3
4
5
6
Line
I
2.2
1.8
2
14
15
16
17
18
19
20
Seasonally adjusted at annual rates
2013
3.1
0.4
1.06
1.12
1.28
2.24
0.08
-0 .0 2
0.10
0.99
0.85
0.66
0.19
0.26
1.02
1.00
0.02
0.27
0.78
0.62
0.16
1.46
0.09
0.85
0.17
1.56
0.56
0.36
0.02
0.35
0.19
-0 .4 6
0.12
-0 .1 9
0.00
-0 .1 9
0.31
0.73
1.69
1.28
0.46
0.82
0.41
-1 .5 2
0.53
0.22
-0.01
0.23
0.31
1.03
0.38
0.33
-0.50
0.27
0.11
0.16
0.11
0.18
-0 .0 7
-0 .4 0
-0 .5 0
0.10
0.73
0.57
0.17
0.40
0.34
0.06
-0 .9 0
-0 .7 3
-0 .1 7
2.5
May 2013
S urvey
C urren t B
of
D-3
u s in e s s
Table 1.1.3. Real Gross Domestic Product, Quantity Indexes
Table 1.1.4. Price Indexes for Gross Domestic Product
[Index numbers, 2005=100]
[Index numbers, 2005=100]
Seasonally adjusted
Line
2011
2012
I
Gross domestic product
Personal consumption
expenditures........................
G o o d s........................................
Durable g o o d s ....................
N ondurable g o o d s .............
S e rv ic e s ...................................
Gross private domestic
investment............................
Fixed investm ent.....................
N onre sid e n tia l....................
S tructures........................
Equipm ent and software
R esidential...........................
Change in private inventories
Net exports of goods and
services.................................
E x p o rts ......................................
Goods
Services
Im p o rts .
G oo ds....................................
Services
Government consumption
expenditures and gross
investment............................
F e d e ra l......................................
National defense................
N ond efense.........................
State and local.........................
Seasonally adjusted
2012
2013
II
III
IV
1
105.356
107.103 109.085 108.443 108.849
109.276 109.773 110.638
108.263
112.395
106.236
106.543
110.812
118.866
107.096
107.882
111.796
121.423
107.413
108.031
/
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
111.578
121.148
107.223
107.854
110.722
118.937
106.938
107.318
108.156
108.259 108.929
112.981
125.364
107.445
108.186
Gross domestic product
Personal consumption
expenditures........................
113.895
127.838
107.711
109.027
G o o d s ........................................
Durable g o o d s ....................
Nondurable g o o d s .............
S ervic es.....................................
Gross private domestic
investment............................
80.284
88.127
87.241
87.394
88.793
89.079
91.690
87.313
110.431
100.506
114.890
47.371
85.785
109.108
99.421
113.460
45.433
86.724
110.065
99.560
114.790
46.364
86.923
109.557
99.558
114.049
47.855
89.820
112.996
103.484
117.262
49.832
90.725
113.580
103.419
118.143
51.332
136.152
137.695
132.793
107.746
106.561
114.630
140.785
143.514
134.720
110.369
108.793
119.410
139.356
141.961
133.573
110.179
108.652
118.950
141.152
144.389
133.940
110.936
109.422
119.637
141.824
144.774
135.259
110.766
109.084
120.394
140.808
142.930
136.109
109.593
108.012
118.658
141.814
144.157
136.620
111.033
109.401
120.386
E x p o rts ......................................
G o o d s ....................................
S ervices................................
Im ports.......................................
G o o d s ...................................
S ervices................................
106.497 104.692
104.804
104.622 105.620 103.721
102.644
Government consumption
expenditures and gross
investment.............................
119.480
118.683
121.114
99.224
116.751
115.031
120.317
98.103
116.685
114.987
120.205
97.858
112.196
107.997
120.974
97.264
Federal.......................................
National d efe nse................
N ond e fe n se.........................
State and lo c a l.........................
Fixed investm ent.....................
N onresidential.....................
S tru c tu re s........................
E quipm ent and software
R esid ential...........................
Change in private inventories
Net exports of goods and
services.................................
119.359
118.518
121.082
97.932
114.679
111.362
121.599
97.565
2012
I
80.311
102.288
90.733
107.473
42.268
116.869
114.975
120.801
97.865
2012
I
2
3
4
5
6
107.687 106.999 107.333
2011
Line
1 113.369
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
2013
II
III
IV
115.388 114.608 115.050 115.807 116.085 116.423
113.790 115.790 115.300 115.496 115.952 116.412 116.675
108.822
90.799
119.430
116.435
110.203
89.576
122.427
118.779
110.550
88.900
123.439
119.553
110.297
88.660
123.181
120.105
106.439 107.747 107.292 107.647 107.818 108.231
108.624
110.256
90.157
122.136
117.989
109.743
89.888
121.472
118.576
110.261
89.358
122.659
118.997
106.680
107.359
126.850
100.445
103.406
108.175
108.993
131.222
101.236
104.288
107.661
108.562
130.167
101.001
103.439
107.977
108.878
131.198
101.094
103.754
108.324
109.104
131.540
101.282
104.593
108.739
109.428
131.982
101.567
105.364
109.154
109.601
132.487
101.636
106.719
117.860
118.182
116.972
121.851
122.482
118.126
118.871
118.642
119.298
122.618
123.356
118.376
118.652
118.617
118.609
124.156
125.262
118.117
118.802
118.511
119.385
122.942
123.743
118.399
118.792
118.549
119.255
120.907
121.346
118.133
119.237
118.892
119.945
122.465
123.074
118.855
119.680
119.282
120.515
122.810
123.364
119.468
121.233 123.443 122.979 123.157 123.574 124.063 124.582
116.721
117.411
115.337
124.001
118.565
119.483
116.725
126.462
118.038
119.008
116.096
126.042
118.403
119.268
116.664
126.089
118.679
119.541
116.948
126.605
119.141
120.115
117.193
127.110
Table 1.1.5. Gross Domestic Product
Table 1.1.6. Real Gross Domestic Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Gross domestic product
Personal consumption
expenditures........................
G oo ds........................................
Durable g o o d s ....................
Nondurable g o o d s .............
S e rv ic e s ...................................
Gross private domestic
investment............................
Fixed investm ent.....................
N o nre sidentia l....................
S tructures........................
Equipm ent and software
Residential...........................
Change in private inventories
Net exports of goods and
services.................................
E xp o rts......................................
G oo ds...................................
S e rv ic e s ...............................
Im p o rts ......................................
G oo ds....................................
S e rv ic e s ...............................
Government consumption
expenditures and gross
investment............................
F e d e ra l......................................
National defense.................
N ond efense .........................
State and local.........................
II
IV
2 10,729.0 11,119.6 11,007.2 11,067.2 11,154.4 11,249.6 11,363.9
3 3,624.8 3,783.2 3,755.9 3,741.5 3,792.5 3,842.8 3,865.0
4 1,146.4 1,218.9 1,204.6 1,200.3 1,218.9 1,252.0 1,273.2
5 2,478.4 2,564.2 2,551.3 2,541.2 2,573.6 2,590.8 2,591.8
6 7,104.2 7,336.5 7,251.3 7,325.7 7,361.9 7,406.9 7,498.9
14
15
16
17
18
19
20
21
22
23
24
25
Line
2011
2012
Gross domestic product
Personal consumption
expenditures........................
G o o d s ........................................
Durable g o o d s ....................
Nondurable g o o d s .............
S ervices.....................................
Gross private domestic
investment............................
1,854.9
2,062.3
2,032.2
2,041.7
2,080.1
2,095.1
2,165.6
1,818.3
1,479.6
404.8
1,074.7
338.7
36.6
2,004.2
1,621.3
463.4
1,157.9
382.9
58.1
1,959.7
1,595.5
454.7
1,140.8
364.2
72.6
1,986.9
1,614.1
458.9
1,155.2
372.8
54.8
1,997.9
1,610.0
460.1
1,149.9
387.9
82.3
2,072.4
1,665.5
479.9
1,185.6
406.9
22.7
2,101.3
1,676.7
481.4
1,195.3
424.5
64.3
Fixed investm ent.....................
N onresidential.....................
S tru c tu re s ........................
Equipm ent and software
R esid ential...........................
Change in private inventories
-568.1
-559.9
-615.8
-576.9
-516.8
-530.2
-549.9
Net exports of goods and
services.................................
2,094.2
1,474.5
619.7
2,662.3
2,229.2
433.0
2,184.0
1,542.8
641.2
2,744.0
2,291.9
452.1
2,157.9
1,525.8
632.1
2,773.7
2,324.3
449.3
2,188.5
1,550.5
637.9
2,765.4
2,312.4
453.0
2,198.7
1,555.1
643.5
2,715.5
2,260.6
454.9
2,191.1
1,539.8
651.3
2,721.3
2,270.3
451.0
2,215.0
1,558.1
656.9
2,764.9
2,304.9
460.0
E x p o rts ......................................
G o o d s ....................................
S ervic es................................
Im ports.......................................
G o o d s ....................................
Services................................
Government consumption
expenditures and gross
investment............................
3,059.8
3,062.8
3,054.6
3,053.7
3,093.3
3,049.7
3,030.6
1,222.1
820.8
401.3
1,837.7
1,214.3
809.1
405.1
1,848.5
1,207.7
806.4
401.3
1,846.9
1,210.7
807.8
402.9
1,843.0
1,241.4
834.5
406.8
1,851.9
1,197.3
787.9
409.4
1,852.3
1,178.4
769.7
408.6
1,852.2
2012
I
I
1 15,075.7 15,684.8 15,478.3 15,585.6 15,811.0 15,864.1 16,010.2
7
8
9
10
11
12
13
119.852
121.004
117.572
127.497
Seasonally adjusted at annual rates
2013
III
I
Federal.......................................
National defe nse.................
N ond e fe n se .........................
State and lo c a l.........................
R esidual..........................................
II
2013
III
IV
I
1 13,299.1 13,593.2 13,506.4 13,548.5 13,652.5 13,665.4 13,750.1
2
3
4
5
6
9,428.8
9,603.3
9,546.8
9,582.5
9,620.1
9,663.9
9,740.0
3,331.0
1,262.6
2,075.2
6,101.5
3,432.9
1,360.9
2,094.5
6,176.6
3,406.6
1,336.1
2,088.9
6,145.9
3,409.4
1,335.3
2,092.0
6,178.2
3,439.7
1,364.0
2,098.2
6,186.7
3,476.1
1,408.3
2,098.8
6,195.6
3,504.2
1,436.1
2,104.0
6,243.7
7
8
9
10
11
12
13
1,744.0
1,914.4
1,895.1
1,898.4
1,928.8
1,935.1
1,991.8
1,704.5
1,378.2
319.2
1,070.0
327.6
31.0
1,853.1
1,487.9
353.5
1,143.8
367.1
43.0
1,820.6
1,470.0
349.7
1,129.6
352.1
56.9
1,840.6
1,482.9
350.2
1,142.8
359.3
41.4
1,844.8
1,476.1
350.2
1,135.4
370.9
60.3
1,906.3
1,522.4
364.0
1,167.4
386.2
13.3
1,925.5
1,530.3
363.8
1,176.2
397.8
50.3
14
15
16
17
18
19
20
21
22
23
24
25
26
-408.0
-400.7
-415.5
-407.4
-395.2
-384.7
-400.8
1,776.9
1,247.6
529.8
2,184.9
1,820.0
366.6
1,837.3
1,300.4
537.5
2,238.0
1,858.2
381.9
1,818.7
1,286.3
532.9
2,234.2
1,855.8
380.4
1,842.1
1,308.3
534.4
2,249.6
1,868.9
382.6
1,850.9
1,311.8
539.6
2,246.1
1,863.1
385.0
1,837.6
1,295.1
543.0
2,222.3
1,844.8
379.5
1,850.8
1,306.2
545.1
2,251.5
1,868.6
385.0
2,523.9
2,481.1
2,483.7
2,479.4
2,503.1
2,458.1
2,432.6
1,047.0
699.1
347.9
1,482.0
-7 .8
1,024.1
677.3
347.0
1,461.7
-3 0 .0
1,023.1
677.6
345.6
1,465.3
-2 4 .3
1,022.5
677.3
345.3
1,461.6
-26.1
1,045.9
698.1
347.8
1,462.7
-25.1
1,004.9
656.0
349.3
1,457.2
-4 4 .5
983.2
636.2
347.5
1,452.7
-5 5 .9
N o t e . Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is
the difference between the first line and the sum of the most detailed lines.
May 2013
National Data
D-4
Table 1.1.7. Percent Change From Preceding Period
in Prices for Gross Domestic Product
Table 1.1.8. Contributions to Percent Change in the
Gross Domestic Product Price Index
[Percent]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Gross domestic product
Personal consumption
expenditures.....................
Goods................................
Durable goods................
Nondurable goods..........
Services.............................
Gross private domestic
investment.........................
Fixed investment.................
Nonresidential................
Structures...................
Equipment and software
Residential......................
Change in private inventories
Net exports of goods and
services.............................
Exports..............................
Goods.............................
Services.........................
Imports..............................
Goods.............................
Services.........................
Government consumption
expenditures and gross
investment.........................
Federal..............................
National defense.............
Nondefense....................
State and local....................
Addenda:
Gross national product........
Implicit price deflators:
Gross domestic product1
Gross national product1
II
2013
IV
III
2.7
1.2
2
3
4
5
6
2.4
1.8
2.5
0.7
1.6
1.6
0.9
3.8
-0 .9
6.0
1.8
1.3
-1 .3
2.5
2.0
2.5
-1 .0
4.2
2.5
-1 .8
-1 .2
-2 .2
2.0
1.9
-2 .3
4.0
1.4
1.1
-2 .0
2.6
1.9
-0 .9
-1.1
-0 .8
1.9
1.5
1.2
1.0
1.3
0.6
1.5
1.5
1.6
1.7
4.7
0.6
0.9
1.4
1.5
3.4
0.8
0.9
1.2
1.8
2.7
1.4
- 1 .4
1.2
1.2
3.2
0.4
1.2
1.3
0.8
1.0
0.7
3.3
1.5
1.2
1.4
1.1
3.0
1.5
0.6
1.5
0.3
5.2
6.4
7.6
3.8
7.8
8.9
3.0
0.9
0.4
2.0
0.6
0.7
0.2
2.8
2.4
3.8
5.6
6.4
1.7
0.5
-0 .4
2.6
-3 .9
- 4 .8
1.0
0.0
0.1
- 0 .4
-6 .5
-7 .5
-0 .9
1.5
1.2
2.3
5.3
5.8
2.5
1.5
1.3
1.9
1.1
0.9
2.1
21
22
23
24
25
3.3
1.8
3.6
0.6
1.4
1.6
1.7
2.8
3.0
2.2
3.7
1.6
1.8
1.2
2.0
3.2
4.2
1.2
3.8
1.2
0.9
2.0
0.1
0.9
0.9
1.0
1.6
1.6
1.9
0.8
1.6
2.4
3.0
1.3
1.2
26
2.1
1.8
2.0
1.5
2.6
1.0
27
28
2.1
2.1
1.8
1.8
2.2
2.2
1.5
1.5
2.7
2.7
1.0
1.0
14
15
16
17
18
19
20
1.6
2011
2012
1.0
2012
II
I
2.1
1.8
Line
I
1
7
8
9
10
11
12
11
2.0
S easonally adjusted at annual rates
1.2
Percent change at annual
rate:
Gross domestic product
Percentage points at annual
rates:
Personal consumption
expenditures........................
G o o d s ........................................
Durable g o o d s ....................
Nondurable g o o d s .............
S e rvic e s.....................................
Gross private domestic
investment............................
Fixed investm ent.....................
N onresidential.....................
S tru c tu re s ........................
Equipm ent and software
R esidential...........................
Change in private inventories
Net exports of goods and
services.................................
E x p o rts ......................................
G o o d s ....................................
Services................................
Im po rts.......................................
G o o d s ....................................
S ervic es................................
Government consumption
expenditures and gross
investment.............................
Federal.......................................
National defe nse.................
N o nd efense.........................
State and lo c a l.........................
1.8
2013
IV
III
1.6
1.2
1
2.1
2
3
4
5
6
1.72
1.24
1.76
0.49
1.13
1.12
0.64
0.89
-0 .0 7
0.96
0.83
0.30
-0.11
0.41
0.94
0.61
-0 .0 8
0.68
1.15
-0 .4 5
-0 .0 9
-0 .3 6
0.94
0.46
-0 .1 8
0.64
0.67
0.25
-0 .1 6
0.41
0.87
-0 .2 2
-0 .0 9
-0 .1 4
0.87
2.0
2.7
I
1.0
7
8
9
10
11
12
13
0.18
0.17
0.14
0.17
0.08
0.20
0.19
0.19
0.17
0.12
0.04
0.02
0.00
0.17
0.15
0.10
0.06
0.02
-0.01
0.15
0.18
0.08
0.10
-0 .0 3
-0.01
0.15
0.12
0.09
0.03
0.03
0.02
0.17
0.09
0.03
0.06
0.08
-0 .0 8
0.20
0.12
0.04
0.08
0.07
0.01
0.20
0.07
0.05
0.02
0.13
-0.01
14
15
16
17
18
19
20
-0.46
0.01
-0.59
0.78
1.17
-0.67
0.01
0.84
0.69
0.15
-1 .2 9
-1.21
-0 .0 8
0.12
0.04
0.08
-0.11
-0 .1 0
-0.01
0.38
0.23
0.15
-0 .9 8
-0 .9 3
-0 .0 5
0.07
-0 .0 3
0.11
0.70
0.73
-0 .0 3
0.00
0.02
-0 .0 2
1.18
1.15
0.03
0.21
0.11
0.09
-0 .8 8
-0.81
-0 .0 7
0.21
0.13
0.08
-0 .1 9
-0 .1 3
-0 .0 6
21
22
23
24
25
0.68
0.36
0.70
0.11
0.27
0.31
0.32
0.23
0.17
0.06
0.46
0.12
0.09
0.03
0.24
0.25
0.22
0.03
0.45
0.10
0.05
0.05
0.02
0.07
0.05
0.03
0.19
0.12
0.10
0.02
0.19
0.18
0.14
0.03
0.14
1. The percent change for this series is calculated from the implicit price deflator in NIPA table 1.1.9.
Table 1.1.9. Implicit Price Deflators for Gross Domestic Product
Table 1.1.10. Percentage Shares of Gross Domestic Product
[Index numbers, 2005=100]
[Percent]
2012
Seasonally adjusted
Line
Line
2011
2012
2012
I
Gross domestic product
Personal consumption
expenditures........................
G oo ds........................................
Durable g o o d s ....................
Nondurable g o o d s .............
S e rv ic e s ...................................
Gross private domestic
investment.............................
Fixed investm ent.....................
N onre sid e n tia l....................
S tructures........................
Equipm ent and software
R esidential...........................
Change in private inventories
II
IV
I
113.359 115.387 114.599 115.035 115.810 116.089 116.437
2
3
4
5
6
113.790 115.789 115.297 115.493 115.949 116.409 116.672
7
8
9
10
11
12
13
110.202
89.567
122.429
118.778
110.254
90.158
122.138
117.986
109.741
89.889
121.473
118.573
110.258
89.360
122.661
118.995
110.548
88.901
123.440
119.550
110.294
88.661
123.182
120.103
106.362 107.727 107.234 107.545 107.845 108.270 108.727
106.680
107.359
126.850
100.445
103.406
108.156
108.966
131.075
101.230
104.306
107.636
108.532
130.014
100.992
103.431
107.951
108.847
131.044
101.085
103.746
108.299
109.073
131.386
101.273
104.585
108.713
109.397
131.827
101.558
105.355
109.129
109.570
132.332
101.627
106.711
Net exports of goods and
E x p o rts ......................................
G oo ds....................................
S e rv ic e s ...............................
Im p o rts ......................................
G oo ds....................................
S e rv ic e s ...............................
Government consumption
expenditures and gross
investment............................
F e d e ra l......................................
National defense.................
N ond efense.........................
State and local.........................
14
15
16
17
18
19
20
117.860
118.182
116.972
121.851
122.482
118.126
118.870
118.646
119.296
122.605
123.343
118.375
118.651
118.622
118.604
124.145
125.249
118.117
118.801
118.515
119.379
122.931
123.730
118.399
118.791
118.553
119.249
120.896
121.333
118.134
119.235
118.896
119.939
122.454
123.062
118.855
119.678
119.286
120.509
122.799
123.352
119.467
123.579 124.067 124.586
21
22
23
24
25
121.233 123.446 122.983 123.161
116.721
117.411
115.337
124.001
118.567
119.474
116.749
126.465
118.042
119.004
116.117
126.046
118.406
119.264
116.685
126.093
118.683
119.537
116.970
126.609
119.145
120.110
117.215
127.114
26
113.353
115.387
114.600
115.035
115.807
116.090
Addendum:
Gross national p ro d u c t..........
I
119.855
120.999
117.594
127.501
Gross domestic product
Personal consumption
expenditures........................
G o o d s ........................................
Durable g o o d s ....................
Nondurable g o o d s .............
S ervic es.....................................
Gross private domestic
investment............................
Fixed investm ent.....................
N onresidential.....................
S tru c tu re s........................
Equipm ent and software
R esid ential...........................
C hange in private inventories
Net exports of goods and
services.................................
E x p o rts ......................................
G o o d s ....................................
S ervices................................
Im po rts.......................................
G o o d s ....................................
S ervices................................
Government consumption
expenditures and gross
investment............................
Federal.......................................
National defe nse.................
N ond e fe n se .........................
State and lo c a l.........................
2013
2012
I
II
III
IV
100.0
100.0
100.0
100.0
100.0
100.0
71.2
70.9
71.1
71.0
70.5
70.9
71.0
24.0
7.6
16.4
47.1
24.1
7.8
16.3
46.8
24.3
7.8
16.5
46.8
24.0
7.7
16.3
47.0
24.0
7.7
46.6
24.2
7.9
16.3
46.7
24.1
8.0
16.2
46.8
7
8
9
10
11
12
13
12.3
13.1
13.1
13.1
13.2
13.2
13.5
12.1
9.8
2.7
7.1
2.2
0.2
12.8
10.3
3.0
7.4
2.4
0.4
12.7
10.3
2.9
7.4
2.4
0.5
12.7
10.4
2.9
7.4
2.4
0.4
12.6
10.2
2.9
7.3
2.5
0.5
13.1
10.5
3.0
7.5
2.6
0.1
13.1
10.5
3.0
7.5
2.7
0.4
14
15
16
17
18
19
20
-3.8
-3.6
-4.0
-3.7
-3.3
-3.3
-3.4
13.9
9.8
4.1
17.7
14.8
2.9
13.9
9.8
4.1
17.5
14.6
2.9
13.9
9.9
4.1
17.9
15.0
2.9
14.0
9.9
4.1
17.7
14.8
2.9
13.9
9.8
4.1
17.2
14.3
2.9
13.8
9.7
4.1
17.2
14.3
2.8
13.8
9.7
4.1
17.3
14.4
2.9
21
22
23
24
25
20.3
19.5
19.7
19.6
19.6
19.2
18.9
8.1
5.4
2.7
12.2
7.7
5.2
2.6
11.8
7.8
5.2
2.6
11.9
7.8
5.2
2.6
11.8
7.9
5.3
2.6
11.7
7.5
5.0
2.6
11.7
7.4
4.8
2.6
11.6
2013
III
1
108.822
90.799
119.430
116.435
2011
1
100.0
2
3
4
5
6
16.3
May 2013
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 1.1.11. Real Gross Domestic Product: Percent Change From Quarter One Year Ago
[P ercent]
2012
2013
Line
I
Gross domestic product......................................................................................................
Personal consumption expenditures
G o o d s ...........................................
Durable g ood s........................
N ondurable g ood s................
S e rv ic e s ...................................................................................................................................................
Gross private domestic investment
Fixed investm ent........................
N onre sidentia l........................
S tru c tu re s..........................
Equipm ent and s o ftw a re ............................................................................................................
R esid ential.............................
Change in private inventories..
Net exports of goods and services
E xpo rts.........................................
G o o d s .................................................................................................................................................
S e rvic e s..............................................................................................................................................
Im ports
G o o d s .................................................................................................................................................
Services
Government consumption expenditures and gross investment.......................................
Fede ral.....................................................................................................................................................
National d e fe n se ..............................................................................................................................
Nondefense.
State and local
III
II
IV
I
2.4
1.8
2.1
1.9
2.6
1.9
1.7
1.8
1.8
2.0
2.6
6.9
0.7
1.3
2.9
7.5
0.9
1.4
3.5
8.4
1.3
1.1
3.2
8.3
0.9
1.1
2.9
7.5
0.7
1.6
14.1
10.9
11.1
3.6
5.1
11.9
12.5
19.7
10.0
9.3
9.9
9.7
11.2
9.2
10.4
6.2
4.6
6.1
4.0
13.6
7.2
5.4
7.3
4.7
14.9
5.8
4.1
4.0
4.1
13.0
4.0
5.0
1.7
3.2
2.6
6.2
4.3
5.8
0.7
3.9
3.5
5.7
3.2
4.5
0.2
2.5
2.4
3.0
2.1
1.7
3.2
0.2
-0.1
1.9
1.8
1.5
2.3
0.8
0.7
1.2
-2.2
-2.2
-0.5
-1.8
-2.1
-2 .6
-2 .0
-3 .8
-2 .0
-3 .3
-4 .0
-2 .0
-1 .5
0.0
-1 .6
3.6
-0 .9
-2 .8
-5 .0
1.5
-1.1
-3 .9
-6.1
0.5
-0 .9
2.0
2.1
2.0
2.1
1.1
2.0
2.5
1.9
2.4
1.6
2.1
1.4
1.8
1.6
3.2
1.9
1.6
1.7
30
2.2
2.4
2.1
2.2
0.2
0.9
31
32
33
34
35
36
37
38
2.3
2.0
2.0
2.0
2.4
1.9
2.5
2.0
1.6
1.7
1.7
1.7
1.6
1.8
1.7
1.9
1.4
1.5
1.6
1.5
1.5
1.6
1.5
1.7
1.6
1.5
1.8
1.6
1.6
1.5
1.6
1.6
1.2
1.3
1.6
1.4
1.2
1.3
1.3
1.4
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Addenda:
Final sales of dom estic p ro d u c t........................................................................................................
G ross dom estic p u rch a se s ....
Final sales to dom estic purchasers
G ross national pro d u ct............
Real disposable personal in c o m e ....................................................................................................
26
27
28
Price indexes (Chain-type):
G ross dom estic p u rch a se s...........................................................................................................
G ross dom estic purchases excluding food and energy 1......................................................
G ross dom estic pro d u ct.................................................................................................................
G ross dom estic product excluding food and energy 1 ...........................................................
Personal consum ption expe nditures........................
Personal consum ption expenditures excluding food and energy 1 .....................................
M arket-based PCE 2.......................................................................................................................
M arket-based PCE excluding food and energy 2.....................................................................
1. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
2. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
N o t e . Percent changes for real estimates are calculated from corresponding quantity indexes presented in NIPA tables 1.1.3,1.2.3,1.4.3, and 1.7.3. Percent changes in price estimates are calculated from corre
sponding price indexes presented in NIPA tables 1.1.4,1.6.4, and 2.3.4.
Table 1.2.1. Percent Change From Preceding Period in Real
Gross Domestic Product by Major Type of Product
[P ercent]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Gross domestic product......................................................................................................
Final sales of dom estic p ro d u c t...............................................................................................
C hange in private inventories...................................................................................................
Goods...........................................
Final sa le s..............................
Durable go o d s...........................
Final s a le s..........................................................................................................................................
Change in private inventories 1.....................................................................................................
Nondurable g ood s....................
Final sale s...........................................................................................................................................
Change in private inventories 1.....................................................................................................
1
2
3
4
5
fi
7
8
q
10
11
II
2013
III
IV
I
1.8
2.2
2.0
1.3
3.1
0.4
2.5
2.0
2.1
2.4
1.7
2.4
1.9
1.5
5.1
5.4
3.9
1.3
6.1
1.4
4.9
5.7
4.9
5.4
3.0
3.5
7.0
1.3
7.5
7.9
7.1
5.9
9.8
4.7
4.1
0.7
6.9
6.0
2.8
10.8
1.1
2.4
2.7
3.5
3.7
4.0
-1 .9
6.2
-1 .5
5.5
5.3
1.1
-0.1
3.3
9.1
0.2
1?
Services 2.........................................................................................................................................
Structures........................................................................................................................................
Addenda:
13
14
0.9
-2.7
0.5
6.0
0.6
7.4
1.2
1.7
1.7
3.9
-1.3
12.1
1.4
2.8
M otor vehicle ou tp u t.............................................................................................................................
G ross dom estic product excluding m otor vehicle outp u t............................................................
Final sales of com puters 3 ..................................................................................................................
G ross dom estic product excluding final sales of c o m p u te rs.....................................................
Gross dom estic purchases excluding final sales of com puters to dom estic purchasers
Final sales of dom estic product, current dollars............................................................................
15
16
17
18
19
20
11.0
1.6
35.3
1.7
1.6
4.1
12.4
1.9
11.8
2.2
2.0
3.9
30.9
1.3
4.5
1.9
1.7
4.4
7.3
1.1
-1 9 .9
1.4
1.1
3.3
-8 .6
3.5
29.5
3.0
2.8
5.2
6.8
0.2
26.5
0.3
-0 .3
2.9
9.1
2.3
-1 .9
2.5
2.9
2.7
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard Industrial Classification (SIC); later estimates for these industries are based on the North Amer
ican Industry Classification System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense) produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
D-6
National Data
Table 1.2.2. Contributions to Percent Change in Real
Gross Domestic Product by Major Type of Product
May 2013
Table 1.2.3. Real Gross Domestic Product by
Major Type of Product, Quantity Indexes
[Index numbers, 2005=100]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Percent change at annual rate:
Gross domestic product.......
Percentage points at annual
rates:
Final sales of dom estic
p ro d u c t................................
Change in private
inven tories..........................
Goods................................................
Final s a le s ....................................
C hange in private inventories
Durable g o o d s .................................
Final s a le s ....................................
Change in private inventories 1
Nondurable g o o d s ..........................
Final s a le s ....................................
Change in private inventories 1
II
Seasonally adjusted
2013
III
IV
Line
1.8
2.2
2.0
1.3
0.4
3.1
2012
I
2.5
2
1.95
2.07
2.35
1.71
2.37
1.89
1.47
3
-0 .1 4
0.14
-0 .3 9
-0 .4 6
0.73
-1 .5 2
1.03
4
5
6
7
8
9
10
11
12
1.37
1.50
1.09
0.38
1.73
0.40
1.40
1.52
-0 .1 4
1.01
1.05
-0 .0 4
0.36
0.47
-0 .1 0
1.36
0.14
1.00
0.81
0.19
0.50
0.55
-0 .0 5
1.48
-0 .3 9
1.35
0.65
0.70
-0 .2 7
0.83
-1 .1 0
0.84
-0 .4 6
0.58
0.10
0.48
-0.21
0.73
-0 .9 4
1.00
0.73
0.99
0.83
0.16
0.73
0.16
0.57
1.91
-1 .5 2
0.41
1.45
-1 .0 4
-0.01
0.46
-0 .4 8
0.37
1.03
0.17
0.34
-0 .1 7
1.23
0.03
1.20
Services 2..........................................
Structures.........................................
Addenda:
13
14
0.62
-0.19
0.31
0.41
0.38
0.50
0.76
0.12
1.11
0.27
-0.84
0.82
0.90
0.20
Motor vehicle o u tp u t.......................
G ross dom estic product excluding
m otor vehicle o u tp u t..................
Final sales of com puters 3............
G ross dom estic product excluding
final sales of com puters............
15
0.25
0.31
0.72
0.20
-0 .2 5
0.18
0.24
16
17
1.56
0.12
1.90
0.05
1.23
0.02
1.06
-0 .1 0
3.36
0.11
0.20
0.10
2.26
-0.01
18
1.68
2.16
1.94
1.35
2.99
0.28
2.51
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification
System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
2013
II
III
IV
Final sales of dom estic
product.................................
Change in private
inve n to rie s..........................
2 105.506 107.686 106.897 107.356 107.988 108.503 108.898
‘A
G oods................................................
4 117.713 124.099 122.762 123.169 125.016 125.451 126.975
Final sales.....................................
5
fi
7
8
q
10
Durable g o o d s .................................
Final sales.....................................
Change in private inventories 1
Nondurable g o o d s ..........................
Final sales.....................................
C hange in private inventories 1
11
118.430 124.268 122.506 123.428 124.508 126.631 127.038
118.121 126.489 124.267 125.518 127.637 128.535 128.885
118.277 125.198 123.306 123.533 125.353 128.601 129.350
117.406 121.759 '121.320 120.863 122.438 122.414 125.106
118.547 123.294 121.647 123.275 123.617 124.637 124.706
1?
Services 2..........................................
Structures..........................................
Addenda:
13 107.778 108.279 107.899 108.215 108.676 108.323 108.700
14 63.793 67.598 66.584 66.857 67.495 69.455 69.932
M otor vehicle o u tp u t......................
G ross dom estic product
excluding m otor vehicle output
Final sales of com puters 3............
Gross dom estic product
excluding final sales of
com p uters.....................................
G ross dom estic purchases
excluding final sales of
com puters to dom estic
purch asers....................................
15
86.127
96.769
96.182
97.893
95.704
18 104.980 107.259 106.574 106.934 107.728 107.803 108.475
19 102.006 104.084 103.536 103.815 104.535 104.452 105.193
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification
System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
Table 1.2.5. Gross Domestic Product by Major Type of Product
[In d e x num b e rs, 2 0 0 5 = 1 0 0 ]
[B illio n s o f do lla rs]
Seasonally adjusted
2011
2012
2012
I
II
Seasonally adjusted at annual rates
IV
1 113.369 115.388 114.608 115.050 115.807 116.085 116.423
Final sales of dom estic
p ro d u c t................................
Change in private
2 113.371 115.417 114.628 115.065 115.849 116.126 116.467
u
Final s a le s ....................................
Durable g o o d s .................................
Final s a le s ....................................
C hange in private inventories 1
Nondurable g o o d s ..........................
Final s a le s ....................................
Change in private inventories 1
Services 2..........................................
Structures.........................................
Addenda:
Motor vehicle o u tp u t.......................
Gross dom estic product
excluding m otor vehicle output
Final sales of c o m p u te rs 3............
G ross dom estic product
excluding final sales of
com puters.....................................
Im plicit price deflator for final
sales of dom estic product
4 102.313 103.361
5 102.240 103.364
fi
7 94.408 94.391
8 94.335 94.309
q
111.839 114.229
111.823 114.338
?
10
11
1
102.488 102.752 104.281 103.936 103.743
Final sales...........................
Change in private
in ve n to rie s.....................
Durable g o o d s ........................
Final sales...........................
Change in private
inventories 1...................
Nondurable g o o d s ................
Final sales...........................
Change in private
inventories 1...................
94.395
94.313
94.185
94.098
94.171
94.079
112.270 112.753 116.193 115.699 115.272
112.340 112.789 116.365 115.860 115.452
13 117.656 120.026 119.316 119.798 120.217 120.771 121.319
14 117.337 120.484 119.417 120.209 120.851 121.457 122.379
15 105.034 106.901 106.360 106.994 106.938 107.313 107.575
16 113.671 115.696 114.909 115.346 116.128 116.403 116.744
17 42.682 39.775 41.101 40.470 39.428 38.101 37.222
18 113.974 116.049 115.245 115.699 116.477 116.775 117.128
19 113.371 115.417 114.624 115.061
115.845 116.122 116.463
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification
System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
Final sales of dom estic
product........................
C hange in private
inven tories.................
G oods.......................................
94.554
94.468
2012
2012
I
Gross domestic product
102.517 102.800 104.232 103.896 103.700
94.431
94.356
2011
I
Gross domestic product.......
G oods................................................
Line
2013
III
99.427
97.296
16 105.951 108.017 107.326 107.616 108.535 108.590 109.214
17 200.079 223.772 222.335 210.355 224.403 237.996 236.830
Table 1.2.4. Price Indexes for Gross Domestic Product
by Major Type of Product
Line
I
1 105.356 107.687 106.999 107.333 108.156 108.259 108.929
Gross domestic product.......
1
2012
2011
I
II
2013
III
IV
I
1 15,075.7 15,684.8 15,478.3 15,585.6 15,811.0 15,864.1 16,010.2
2 15,039.0 15,626.7 15,405.7 15,530.8 15,728.8 15,841.4 15,945.9
3
36.6
58.1
72.6
54.8
82.3
22.7
64.3
4
5
4,184.7
4,458.5
4,373.5
4,399.3
4,530.0
4,531.3
4,579.0
4,148.0
4,400.5
4,301.0
4,344.5
4,447.7
4,508.6
4,514.7
6
7
8
36.6
2,128.3
2,090.7
58.1
2,279.1
2,212.4
72.6
2,240.0
2,180.1
54.8
2,265.5
2,186.7
82.3
2,300.0
2,215.3
22.7
2,310.9
2,267.5
64.3
2,316.9
2,280.2
9
10
11
37.6
2,056.3
2,057.3
66.7
2,179.4
2,188.1
59.9
2,133.6
2,120.9
78.8
2,133.8
2,157.9
84.8
2,230.0
2,232.5
43.5
2,220.4
2,241.1
36.7
2,262.1
2,234.5
- 1 .0
- 8 .7
12.7
-24.1
-2 .5
-2 0 .7
27.7
12
Services 2 .................................
Structures.................................
Addenda:
13
M otor vehicle o u tp u t.............
Gross dom estic product
excluding m otor vehicle
o utp ut....................................
Final sales of com puters 3...
Gross dom estic product
excluding final sales of
com p uters...........................
15
14
9,870.4 10,116.1 10,021.0 10,090.9 10,169.3 10,183.0 10,264.7
1,020.5 1,110.2 1,083.7 1,095.4 1,111.8 1,149.8 1,166.5
379.0
433.4
428.6
438.8
428.7
437.4
448.1
16 14,696.6 15,251.4 15,049.7 15,146.8 15,382.3 15,426.7 15,562.1
17
65.9
68.8
70.7
65.8
68.4
70.1
68.2
18 15,009.7 15,616.0 15,407.6 15,519.7 15,742.6 15,794.0 15,942.0
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification
System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
May 2013
S urvey
of
C urren t B
D-7
u s in e s s
Table 1.2.6. Real Gross Domestic Product by
Major Type of Product, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Gross domestic product.................................................................................................
Final sales of dom estic p ro d u c t..........................................................................................
Change in private inventories...............................................................................................
R e sid ual....................................................................................................................................
Goods...........................................................................................................................................
Final sale s ............................
Change in private inventories
Durable g ood s.........................
Final sale s ...........................
C hange in private inventories ' ................................................................................................
Nondurable g ood s............................................................................................................................
Final s a le s.....................................................................................................................................
Change in private inventories 1................................................................................................
Services 2....................................................................................................................................
Structures...................................................................................................................................
R esid u a l...................................................................................................................................................
II
1
2
3
4
13,299.1
13,593.2
13,506.4
13,548.5
13,265.3
31.0
2.8
13,539.4
43.0
10.8
13,440.1
56.9
9.4
13,497.9
41.4
9.2
5
6
7
8
9
10
11
12
13
4,091.4
4,313.4
4,266.9
4,057.2
31.0
2,255.0
2,216.3
33.2
1,839.4
1,839.8
0.6
4,257.2
43.0
2,414.7
2,346.0
58.0
1,907.6
1,913.5
-8 .3
4,196.8
56.9
2,372.3
2,310.5
52.0
1,900.7
1,887.9
9.5
14
8,389.3
869.8
8,428.2
921.6
8,398.7
907.8
-4 9 .9
-6 5 .8
-6 0 .0
360.8
12,930.3
154.5
13,170.6
405.4
13,182.4
172.7
13,456.5
402.9
13,098.1
171.6
13,370.5
15
16
2013
III
I
IV
13,652.5
13,665.4
13,750.1
13,577.4
60.3
14.8
13,642.0
13.3
10.1
13,691.8
50.3
8.0
4,281.0
4,345.2
4,360.3
4,413.3
4,228.4
41.4
2,396.2
2,314.8
68.2
1,893.6
1,913.2
-1 8 .6
4,265.4
60.3
2,436.6
2,348.9
73.8
1,918.3
1,918.5
-5 .5
4,338.1
13.3
2,453.8
2,409.7
37.8
1,917.9
1,934.3
-1 8 .7
4,352.0
50.3
2,460.4
2,423.8
31.8
1,960.1
1,935.4
20.3
8,423.3
911.5
8,459.2
920.2
8,431.7
946.9
8,461.0
953.4
-6 3 .9
-6 2 .6
-7 6 .3
-7 5 .6
410.1
13,133.4
162.4
13,415.6
400.9
13,245.6
173.2
13,515.3
407.6
13,252.4
183.7
13,524.6
416.5
13,328.5
182.8
13,609.1
Addenda:
M otor vehicle o utp ut.........................................................................................................................
G ross dom estic product excluding m otor vehicle ou tp u t........................................................
Final sales of com puters 3 .............................................................................................................
G ross dom estic product excluding final sales of c o m p u te rs.................................................
17
18
19
20
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard Industrial Classification (SIC); later estimates for these industries are based on the North American
Industry Classification System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense) produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
N ote . Chained ( 2 0 0 5 ) dollar series are calculated as the product of the chain-type quantity index and the 2 0 0 5 current-dollar value of the corresponding series, divided by 1 0 0 . Because the formula for the chain-type
quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line following change in private inventories is the difference between gross
domestic product and the sum of final sales of domestic product and of change in private inventories; the residual line following structures is the difference between gross domestic product and the sum of the detailed
lines of goods, of services, and of structures.
Table 1.3.1. Percent Change From Preceding Period
in Real Gross Value Added by Sector
[Percent]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Gross domestic product.................................................................................................
Business 1
Nonfarm 2...........................................................................................................................................
Farm..
Households and institutions..................................................................................................
H ouseholds........................................................................................................................................
Nonprofit institutions serving households 3...............................................................................
General governm ent4 .............................................................................................................
State and lo c a l..................................................................................................................................
1
2
3
4
5
6
7
8
9
10
II
2013
III
IV
I
1.8
2.4
2.2
3.0
2.0
2.7
1.3
1.9
3.1
4.2
0.4
0.5
2.5
3.3
2.6
-1 7 .7
3.1
-4 .4
2.7
3.5
2.1
-1 0 .3
4.7
-3 1 .8
0.7
-1 7 .8
2.5
100.6
0.8
0.0
-0.3
-1.0
-1.1
0.6
0.1
0.0
1.8
-1 .4
1.8
-2 .0
1.9
-2.1
0.3
-2 .6
0.7
0.3
1.1
-1 .0
1.5
-0.5
-0.3
-0.2
-0.7
0.5
-0.5
-0.3
0.8
-1 .2
-0 .4
-0 .3
-0 .9
0.1
-1 .5
-0 .3
-0 .6
1.1
-0 .5
- 0 .4
-1.1
0.1
0.6
-0 .8
-1 .2
-1 .4
-1 .8
0.6
-0 .2
Addendum:
Gross housing value a d d e d ...........................................................................................................
11
1. Equals gross domestic product excluding gross value added of households and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and used by nonprofit institutions serving households, and rental income of persons for tenantoccupied housing owned by nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
D-8
National Data
May 2013
Table 1.3.3. Real Gross Value Added by Sector, Quantity Indexes
[Index numbers, 2005=100]
S easonally adjusted
Line
2011
2012
2012
I
Gross domestic product..................................................................................................
Business 1
Nonfarm 2............................................................................................................................................
Farm.
4
Households and institutions...................................................................................................
H ouseholds........................................................................................................................................
N onprofit institutions serving households 3...............................................................................
General governm ent4 .......................
F ede ral...................................................
State and lo c a l.....................................
II
2013
III
IV
I
105.356
104.580
107.687
107.710
106.999
106.735
107.333
107.250
108.156
108.365
108.259
108.492
108.929
109.386
104.742
90.114
107.971
86.154
106.884
93.160
107.441
90.652
108.686
82.369
108.873
78.433
109.544
93.346
5
6
7
109.380
109.368
109.690
109.407
109.100
109.274
109.306
109.699
108.849
108.152
110.773
108.918
110.533
108.343
110.619
107.639
110.816
107.708
111.123
107.431
111.548
8
9
10
106.141
105.797
105.899
105.713
105.850
105.727
105.641
115.730
101.999
115.217
101.730
115.652
101.688
115.228
101.604
115.067
101.871
114.919
101.758
114.589
101.778
11
114.182
113.243
113.756
113.358
112.850
113.007
112.953
1
2
3
Addendum:
G ross housing value a d d e d ...........................................................................................................
1. Equals gross domestic product excluding gross value added of households and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and used by nonprofit institutions serving households, and rental income of persons for tenantoccupied housing owned by nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
Table 1.3.4. Price Indexes for Gross Value Added by Sector
[Index numbers, 2005=100]
Seasonally adjusted
Line
2011
2012
2012
I
Gross domestic product..................................................................................................
Business 1 ................................
Nonfarm 2.................................
F arm ..........................................
Households and institutions
H ouseholds........................................................................................................................................
Nonprofit institutions serving households 3...............................................................................
General governm ent4
Fede ral........................
State and lo c a l.........
II
2013
III
IV
I
113.369
112.043
115.388
113.968
114.608
113.185
115.050
113.615
115.807
114.459
116.085
114.613
116.423
114.846
111.678
150.835
113.620
151.777
112.887
144.834
113.334
143.450
114.102
153.038
114.157
165.784
114.326
173.695
5
6
7
114.830
117.101
116.420
116.722
117.205
118.056
118.793
111.282
119.751
114.142
121.224
113.263
120.804
113.802
120.794
114.236
121.341
115.268
121.957
116.188
122.458
8
9
10
120.838
123.234
122.370
123.046
123.507
124.013
124.652
119.540
121.396
121.995
123.761
120.985
122.971
121.784
123.584
122.338
123.998
122.873
124.491
123.725
125.022
11
112.339
115.307
114.391
114.919
115.439
116.480
117.393
1
2
3
4
Addendum:
Gross housing value a d d e d ...........................................................................................................
1. Equals gross domestic product excluding gross value added of households and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and used by nonprofit institutions serving households, and rental income of persons for tenantoccupied housing owned by nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
Table 1.3.5. Gross Value Added by Sector
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
15,075.7
11,341.2
15,684.8
11,882.6
15,478.3
11,693.0
15,585.6
11,793.3
15,811.0
12,006.8
15,864.1
12,037.3
16,010.2
12,162.6
11,202.5
138.7
11,749.6
133.1
11,555.7
137.3
11,662.7
130.6
11,876.7
130.1
11,903.1
134.2
11,993.8
168.7
5
6
7
1,892.1
1,929.3
1,923.7
1,923.7
1,926.3
1,943.3
1,956.0
1,055.2
836.9
1,067.0
862.2
1,066.4
857.4
1,065.8
858.0
1,062.9
863.4
1,073.2
870.2
1,079.0
877.1
8
9
10
1,842.4
1,872.9
1,861.5
1,868.5
1,878.0
1,883.5
1,891.6
607.0
1,235.4
616.7
1,256.2
613.9
1,247.6
615.7
1,252.8
617.6
1,260.3
619.5
1,263.9
622.0
1,269.6
11
1,352.0
1,376.3
1,371.5
1,373.1
1,373.1
1,387.4
1,397.6
I
Gross domestic product..................................................................................................
Business 1 ...................................................................................................................................
Nonfarm 2............................................................................................................................................
Farm..
4
Households and institutions
H o useholds........................................................................................................................................
N onprofit institutions serving households 3...............................................................................
General governm ent4 ...........
F ede ral......................................
State and lo c a l..................................................................................................................................
1
2
3
II
2013
III
IV
I
Addendum:
G ross housing value a d d e d ...........................................................................................................
1. Equals gross domestic product excluding gross value added of households and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and used by nonprofit institutions serving households, and rental income of persons for tenantoccupied housing owned by nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
May 2013
D-9
S urv ey of C urrent B usiness
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
Table 1.3.6. Real Gross Value Added by Sector, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
2011
Line
2012
I
Gross domestic product
Business 1..............................
[Percent]
2012
2013
II
III
IV
Seasonally adjusted at annual rates
I
1 13,299.1 13,593.2 13,506.4 13,548.5 13,652.5 13,665.4 13,750.1
2 10,123.4 10,426.4 10,332.0 10,381.9 10,489.8 10,502.1 10,588.7
3 10,032.3 10,341.5 10,237.4 10,290.7 10,409.9 10,427.9 10,492.2
4
91.9
95.0
92.5
95.2
87.9
84.0
80.0
5 1,647.7 1,647.5 1,652.4 1,648.1 1,643.5 1,646.1 1,646.6
6
948.2
936.5
930.4
928.6
934.9
941.5
931.0
Nonfarm 2..............................
Farm ......................................
Households and institutions
Households..........................
Nonprofit institutions serving
households 3....................
7
8
9
10
11
General government4..........
Federal..................................
State and local......................
Residual....................................
698.8
711.2
709.7
710.2
711.5
713.4
716.2
1,524.7
1,519.8
1,521.2
1,518.5
1,520.5
1,518.7
1,517.5
507.8
1,017.7
2.4
505.5
1,015.0
-2.8
507.4
1,014.6
0.8
505.6
1,013.7
-0.7
504.8
1,016.4
-4.5
504.2
1,015.3
-6.4
502.8
1,015.5
-0.4
1,203.5
1,193.6
1,199.0
1,194.8
1,189.4
1,191.1
1,190.5
Addendum:
Gross housing value added
12
1. Equals gross domestic product excluding gross value added of households and institutions and of general govern
ment.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and
used by nonprofit institutions serving households, and rental income of persons for tenant-occupied housing owned by
nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
N o te . Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is
the difference between the first line and the sum of the most detailed lines.
Line
2012
2011
2012
Gross domestic product.................
Equals: Gross domestic purchases
Less: Change in private inventories....
Equals: Final sales to domestic
purchasers.....................................
Addenda:
Final sales of domestic product.....
Gross domestic purchases, current
dollars............................................
Final sales to domestic purchasers,
current dollars...............................
III
IV
I
1.8
2.2
2.0
1.3
3.1
0.4
2.5
6.7
4.8
3.4
2.4
4.4
3.1
5.3
2.8
1.9
-0.6
-2.8
-4.2
2.9
5.4
1.7
2.1
1.8
1.0
2.6
0.0
2.9
6
1.8
2.0
2.2
1.4
1.9
1.5
1.9
7
2.0
2.1
2.4
1.7
2.4
1.9
1.5
8
4.2
3.8
4.6
1.7
4.2
1.6
4.1
9
4.4
3.7
4.8
2.2
3.5
3.1
3.1
1
2
3
4
5
Less: Exports of goods and services
Plus: Imports of goods and services
2013
II
I
Table 1.4.3. Real Gross Domestic Product, Real Gross Domestic Purchases,
and Real Final Sales to Domestic Purchasers, Quantity Indexes
Table 1.4.4. Price Indexes for Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
[Index numbers, 2005=100]
[Index numbers, 2005=100]
Seasonally adjusted
Seasonally adjusted
Line
2012
2011
2012
I
Gross domestic product.................
Less: Exports of goods and services
Plus: Imports of goods and services
Equals: Gross domestic purchases
Less: Change in private inventories...
1
2
3
4
5
Line
2013
II
III
IV
2012
2011
105.356 107.687 106.999 107.333 108.156 108.259 108.929
Gross domestic product.................
136.152 140.785 139.356 141.152 141.824 140.808 141.814
107.746 110.369 110.179 110.936 110.766 109.593 111.033
Less: Exports of goods and services
Plus: Imports of goods and services
102.646 104.796 104.261 104.517 105.197 105.209 105.968
Equals: Gross domestic purchases
Less: Change in private inventories...
Equals: Final sales to domestic
purchasers....................................
Addendum:
6 102.771 104.780 104.150 104.523 105.023 105.422 105.923
Final sales of domestic product,,
7 105.506 107.686 106.897 107.356 107.988 108.503 108.898
Equals: Final sales to domestic
purchasers....................................
Addenda:
1
2
3
4
S
2013
2012
I
I
III
II
IV
I
113.369 115.388 114.608 115.050 115.807 116.085 116.423
117.860 118.871 118.652 118.802 118.792 119.237 119.680
121.851 122.618 124.156 122.942 120.907 122.465 122.810
114.208 116.154 115.674 115.888 116.298 116.758 117.084
6 114.219 116.192 115.703 115.911 116.346 116.806 117.134
7 113.371 115.417 114.628 115.065 115.849 116.126 116.467
Final sales of domestic product.....
Implicit price deflator for final sales
to domestic purchasers..............
8 114.219 116.189 115.699 115.907 116.342 116.802 117.130
Table 1.4.5. Relation of Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
Table 1.4.6. Relation of Real Gross Domestic Product, Real Gross Domestic
Purchases, and Real Final Sales to Domestic Purchasers, Chained Dollars
[Billions of dollars]
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Gross domestic product.......
Less: Exports of goods and
services..................................
Plus: Imports of goods and
services..................................
II
Seasonally adjusted at annual rates
2013
III
IV
Line
2011
2012
I
I
1 15,075.7 15,684.8 15,478.3 15,585.6 15,811.0 15,864.1 16,010.2
2012
Gross domestic product.......
II
2013
III
IV
I
1 13,299.1 13,593.2 13,506.4 13,548.5 13,652.5 13,665.4 13,750.1
2
2,094.2
2,184.0
2,157.9
2,188.5
2,198.7
2,191.1
2,215.0
3
2,662.3
2,744.0
2,773.7
2,765.4
2,715.5
2,721.3
2,764.9
Less: Exports of goods and
services..................................
Plus: Imports of goods and
services..................................
Equals: Gross domestic
purchases...........................
4 15,643.7 16,244.7 16,094.0 16,162.5 16,327.8 16,394.4 16,560.1
Equals: Gross domestic
purchases............................
4 13,698.8 13,985.8 13,914.4 13,948.5 14,039.3 14,040.8 14,142.2
Less: Change in private
inventories.............................
5
Less: Change in private
inventories..............................
5
Equals: Final sales to
domestic purchasers........
Addendum:
Final sales of domestic
product...............................
36.6
58.1
72.6
54.8
82.3
22.7
64.3
6 15,607.1 16,186.6 16,021.5 16,107.8 16,245.6 16,371.6 16,495.8
7 15,039.0 15,626.7 15,405.7 15,530.8 15,728.8 15,841.4 15,945.9
Equals: Final sales to
domestic purchasers.........
Addendum:
Final sales of domestic
product................................
2
1,776.9
1,837.3
1,818.7
1,842.1
3
2,184.9
2,238.0
2,234.2
2,249.6
31.0
43.0
56.9
41.4
1,850.9
1,837.6
1,850.8
2,246.1
2,222.3
2,251.5
60.3
13.3
50.3
6 13,664.2 13,931.2 13,847.5 13,897.1 13,963.6 14,016.6 14,083.3
7 13,265.3 13,539.4 13,440.1 13,497.9 13,577.4 13,642.0 13,691.8
Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
weights of more than one period, the corresponding chained-dollar estimates are usually not additive.
N o te .
National Data
D-10
May 2013
Table 1.5.2. Contributions to Percent Change in Real
Gross Domestic Product, Expanded Detail
Table 1.5.1. Percent Change From Preceding Period in Real
Gross Domestic Product, Expanded Detail
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
.ine
2011
2012
2012
I
G ross dom estic p ro d u ct..........
Personal consum ption
expen d itu res...................................
Goods................................................
Durable goods..............................
Motor vehicles and parts........
Furnishings and durable
household equipment.........
Recreational goods and
vehicles................................
Other durable goods...............
Nondurable goods.......................
Food and beverages
purchased for off-premises
consumption........................
Clothing and footwear............
Gasoline and other energy
goods ...................................
Other nondurable goods.........
S ervices............................................
Household consumption
expenditures (for services)....
Housing and utilities...............
H ealthcare...............................
Transportation services..........
Recreation services................
Food services and
accommodations................
Financial services and
insurance..............................
Other services.........................
Final consumption expenditures
of nonprofit institutions serving
households (N PISH s)1..........
Gross output of nonprofit
institutions 2 ........................
Less: Receipts from sales of
goods and services by
nonprofit institutions 3 ........
Gross private dom estic investm ent
Fixed investment...............................
Nonresidential..............................
Structures.................................
Equipment and software.........
Information processing
equipment and software
Computers and
peripheral equipment
Software 4 .......................
O ther................................
Industrial equipment...........
Transportation equipment
Other equipm ent................
Residential....................................
Change in private inventories.........
Farm..............................................
Nonfarm.........................................
Net exports o f goods and services
Exports..............................................
Goods............................................
S ervices........................................
Im ports..............................................
Goods............................................
S ervices........................................
Governm ent consum ption
expenditures and gross
investm ent........................................
Federal..............................................
National defense..........................
Consumption expenditures....
Gross investment.....................
Nondefense..................................
Consumption expenditures....
Gross investment.....................
State and local..................................
Consumption expenditures.........
Gross investment.........................
1
2
3
4
5
II
2.2
2.0
2.5
1.9
2.4
3.8
7.2
5.5
3.1
7.8
7.5
4.7
11.5
13.0
1.8
III
IV
0.4
2.5
1.5
1.6
1.8
3.2
0.3
-0.2
-9.8
3.6
8.9
10.1
4.3
13.6
22.5
3.3
8.1
10.5
5.8
5.8
8.6
-0.7
5.7
4.3
3.4
7
8
9
11.7
4.1
2.3
10.9
5.5
0.9
13.1
9.8
1.6
7.2
8.6
0.6
11.5
6.2
1.2
11.6
12.6
0.1
8.9
8.2
1.0
10
11
2.5
3.5
0.1
1.1
0.0
5.9
-0.5
-4.9
0.2
5.3
-0.1
-1.5
0.9
1.3
12
13
14
-3.5
4.3
1.9
-1.1
2.6
1.2
-2.5
3.5
1.3
8.5
0.3
2.1
-2.9
2.4
0.6
-6.0
4.0
0.6
-3.4
3.1
3.1
15
16
17
18
19
1.8
0.5
3.4
2.2
2.5
1.1
0.0
1.9
1.5
1.2
1.4
-2.2
3.7
1.6
-0.6
1.5
5.5
-1.3
2.9
2.9
0.8
1.3
2.7
1.5
0.7
0.6
-4.2
2.3
0.6
-1.0
3.6
4.3
2.1
3.4
4.2
20
3.7
3.4
4.8
1.1
1.3
8.0
2.5
21
22
-0.3
1.7
0.5
0.8
3.8
1.1
-0.1
-0.1
-4.8
0.4
2.6
1.5
5.9
3.5
23
3.8
3.6
-1.2
16.3
-4.1
-0.9
-6.1
24
2.7
2.6
4.1
0.6
4.6
-0.2
-0.4
2.3
2.2
5.9
-4.1
7.7
0.0
1.5
5.2
9.8
6.1
0.7
6.6
1.3
12.3
6.6
8.6
2.7
11.0
8.7
8.0
10.8
6.9
9.8
7.5
12.9
5.4
4.5
3.6
0.6
4.8
0.9
-1.8
0.0
-2.6
14.0
13.2
16.7
11.8
4.1
2.1
-0.3
3.0
31
5.0
3.8
5.9
-2.4
-2.5
15.9
3.6
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
12.3
6.9
-0.5
13.3
31.1
12.4
-1.4
3.7
5.7
0.9
7.1
17.1
6.6
12.1
14.7
1.9
8.5
-13.6
20.0
11.8
20.5
-19.6
6.1
-6.9
13.6
15.8
6.9
8.5
-33.2
3.8
3.0
0.1
-16.1
9.4
13.5
73.4
9.2
7.8
9.7
7.3
7.4
17.6
5.6
2.8
3.9
-0.9
-8.7
17.4
12.6
6.7
7.2
5.6
4.8
5.2
2.8
3.4
4.2
1.5
2.4
2.1
4.2
4.4
4.0
5.2
3.1
2.0
9.0
5.3
7.0
1.1
2.8
2.9
2.3
1.9
1.1
4.0
-0.6
-1.2
2.6
-2.8
-5.0
2.5
-4.2
-3.9
-5.6
2.9
3.5
1.5
5.4
5.2
6.0
49
50
51
52
53
54
55
56
57
58
59
-3.1
-1.7
-3.0
-0.7
3.9
-7.0
-4.1
-2.8
-2.6
-1.8
-7.3
-3.1
-3.4
-1.7
-3.4
-2.3
-8.1
-2.2
-3.1
-3.1
-3.4
-0.3
0.6
-6.3
-1.4
-0.9
-3.8
-4.2
-7.1
-4.7
-21.3
1.8
3.6
-10.0
-2.2
-0.5
-9.8
-0.2
-0.2
-2.1
13.8
-0.4
-0.2
-1.3
-1.0
-1.1
-0.7
9.5
12.9
15.0
-0.6
3.0
4.1
-4.9
0.3
0.2
0.6
-14.8
-22.1
-24.9
-0.2
1.7
1.2
5.9
-1.5
-1.3
-2.6
-8.4
-11.5
-8.3
-30.3
-2.0
-1.4
-6.7
-1.2
-0.5
-4.4
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the
world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world;
includes membership dues and fees.
4. Excludes software “embedded,” or bundled, in computers and other equipment.
2012
2012
II
I
6
25
26
27
28
29
30
2011
I
3.1
1.3
Line
2013
Percent change at annual rate:
G ross d om estic p ro d u c t..........
Percentage poin ts at annual rates:
Personal consum ption
e xp e n d itu re s...................................
Goods..........
Durable g oods..............................
Motor vehicles and p a rts........
Furnishings and durable
household equipment.........
Recreational goods and
vehicles.................................
Other durable goods...............
Nondurable g oods.......................
Food and beverages
purchased for off-premises
consumption........................
Clothing and footwear.............
Gasoline and other energy
goods....................................
Other nondurable goods.........
Services.............................................
Household consumption
expenditures (for services)....
Housing and utilities...............
Health ca re ...............................
Transportation services...........
Recreation services................
Food services and
accommodations................
Financial services and
insurance..............................
Other services.........................
Final consumption expenditures
of nonprofit institutions serving
households (N PISH s)1..........
Gross output of nonprofit
institutions 2.........................
Less: Receipts from sales of
goods and services by
nonprofit institutions 3.........
Gross private dom estic investm ent
Fixed investment...............................
Nonresidential...............................
Structures.................................
Equipment and software.........
Information processing
equipment and software
Computers and
peripheral equipment
Software 4........................
Other.................................
Industrial equipment...........
Transportation equipment
Other equipment.................
Residential....................................
Change in private inventories.........
Farm ..............................................
Nonfarm.........................................
Net exports o f goods and services
Exports..............................................
G oods............................................
Services........................................
Imports...............................................
G oods............................................
Services.........................................
Government consum ption
expenditures and gross
investm ent........................................
Federal...............................................
National defense..........................
Consumption expenditures....
Gross investment.....................
Nondefense..................................
Consumption expenditures....
Gross investment.....................
State and local..................................
Consumption expenditures.........
Gross investment.........................
2.2
2013
III
I
3.1
0.4
1.06
1.12
1.28
2.24
0.08
-0.02
-0.26
0.85
0.66
0.25
1.02
1.00
0.53
0.78
0.62
0.27
-0.01
0.09
0.07
0.06
0.16
0.10
0.10
0.25
0.07
0.19
0.25
0.15
0.02
0.19
0.10
0.16
0.00
0.13
-0.03
-0.12
0.01
0.12
-0.01
-0.04
0.05
0.03
-0.03
0.15
0.58
-0.07
0.20
0.61
0.23
0.02
0.99
-0.08
0.14
0.26
-0.17
0.23
0.27
-0.10
0.18
1.46
0.82
0.07
0.39
0.04
0.07
0.51
0.00
0.22
0.03
0.03
0.64
-0.28
0.42
0.03
-0.02
0.69
0.68
-0.15
0.06
0.07
0.35
0.16
0.31
0.03
0.02
0.28
-0.54
0.26
0.01
-0.03
1.58
0.53
0.24
0.07
0.11
20
0.16
0.15
0.21
0.05
0.06
0.35
0.12
21
22
-0.02
0.11
0.03
0.05
0.20
0.07
-0.01
-0.01
-0.26
0.03
0.14
0.09
0.31
0.22
1
1.8
2.0
2
3
4
5
1.79
1.32
1.72
0.89
0.53
0.13
0.74
0.58
0.19
1.11
0.85
0.31
6
0.10
0.10
0.14
7
8
9
0.25
0.05
0.36
0.24
0.07
0.15
0.28
0.11
0.26
10
11
0.13
0.08
0.00
0.03
12
13
14
-0.09
0.25
0.90
15
16
17
18
19
1.3
IV
2.5
23
0.07
0.07
-0.02
0.29
-0.08
-0.02
-0.12
24
0.20
0.20
0.31
0.05
0.35
-0.02
-0.03
25
26
27
28
29
30
0.13
0.13
0.33
-0.24
0.43
0.00
0.09
0.62
1.19
0.78
0.09
0.85
0.17
1.56
0.76
0.80
0.07
0.72
1.05
0.78
0.29
0.49
1.18
0.74
0.35
0.39
0.56
0.36
0.02
0.35
0.12
-0.19
0.00
-0.19
1.69
1.28
0.46
0.82
0.53
0.22
-0.01
0.23
31
0.18
0.14
0.21
-0.09
-0.09
0.52
0.13
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
0.06
0.12
-0.01
0.14
0.26
0.14
-0.03
-0.14
0.02
-0.17
0.02
0.10
0.01
0.09
0.19
0.08
0.27
0.14
-0.06
0.20
0.07
0.04
0.10
-0.18
0.22
0.14
0.43
-0.39
-0.03
-0.37
-0.12
0.11
-0.08
0.16
0.19
0.09
0.19
-0.46
-0.17
-0.29
-0.19
0.07
0.04
0.00
-0.22
0.12
0.31
0.73
-0.38
1.11
0.27
0.16
0.09
0.12
0.09
0.10
0.41
-1.52
0.14
-1.66
0.03
0.05
0.04
-0.01
-0.11
0.22
0.31
1.03
0.78
0.25
0.07
0.04
0.06
0.23
0.38
0.33
-0.50
0.87
0.65
0.22
-0.80
-0.72
-0.08
0.47
0.41
0.06
-0.43
-0.31
-0.12
0.60
0.39
0.21
-0.54
-0.29
-0.25
0.72
0.67
0.05
-0.49
-0.42
-0.07
0.27
0.11
0.16
0.11
0.18
-0.07
-0.40
-0.50
0.10
0.73
0.57
0.17
0.40
0.34
0.06
-0.90
-0.73
-0.17
49
50
51
52
53
54
55
56
57
58
59
-0.67
-0.34
-0.60
-0.14
0.75
-1.41
-0.80
-0.23
-0.15
-0.09
-0.06
-0.09
-0.08
-0.01
-0.43
-0.24
-0.19
-0.18
-0.17
-0.14
-0.02
-0.01
0.01
-0.02
-0.17
-0.09
-0.08
-0.34
-0.39
-0.22
-0.16
0.05
0.08
-0.03
-0.26
-0.05
-0.21
-0.02
-0.01
-0.10
0.09
-0.01
-0.01
0.00
-0.12
-0.10
-0.01
0.71
0.64
0.64
0.00
0.08
0.09
-0.02
0.04
0.02
0.01
-1.23
-1.28
-1.27
0.00
0.04
0.03
0.02
-0.18
-0.12
-0.05
-0.65
-0.60
-0.37
-0.23
-0.05
-0.03
-0.02
-0.14
-0.05
-0.09
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the
world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world;
includes membership dues and fees.
4. Excludes software “embedded,” or bundled, in computers and other equipment.
May 2013
D -11
S u rv ey o f C urrent B usiness
Table 1.5.3. Real Gross Domestic Product,
Expanded Detail, Quantity Indexes
Table 1.5.4. Price Indexes for Gross Domestic Product,
Expanded Detail
[Index numbers, 2005=100]
[Index numbers, 2005=100]
Seasonally adjusted
Line
2011
2012
2012
I
Gross domestic product.........
Personal consumption
expenditures.................................
Goods................................................
Durable goods..............................
Motor vehicles and parts........
Furnishings and durable
household equipment.........
Recreational goods and
vehicles................................
Other durable goods...............
Nondurable goods.......................
Food and beverages
purchased for off-premises
consumption........................
Clothing and footwear............
Gasoline and other energy
goods ...................................
Other nondurable goods.........
S ervices............................................
Household consumption
expenditures (for services)....
Housing and utilities...............
Health care...............................
Transportation services..........
Recreation services................
Food services and
accommodations................
Financial services and
insurance..............................
Other services.........................
Final consumption expenditures
of nonprofit institutions serving
households (NPISHs)1..........
Gross output of nonprofit
institutions 2 ........................
Less: Receipts from sales of
goods and services by
nonprofit institutions 3 ........
Gross private domestic investment
Fixed investment...............................
Nonresidential..............................
Structures.................................
Equipment and software.........
Information processing
equipment and software
Computers and
peripheral equipment
Software 4 .......................
O ther................................
Industrial equipment...........
Transportation equipment
Other equipm ent................
Residential....................................
Nonfarm........................................
Net exports of goods and services
Exports..............................................
Goods............................................
S ervices........................................
Im ports..............................................
G oods............................................
S ervices.......................................
Government consumption
expenditures and gross
investment.....................................
Federal..............................................
National defense..........................
Consumption expenditures....
Gross investment.....................
Nondefense..................................
Consumption expenditures....
Gross investment.....................
State and local..................................
Consumption expenditures.........
Gross investment.........................
II
Seasonally adjusted
2013
III
IV
1 105.356 107.687 106.999 107.333 108.156 108.259 108.929
2 107.103 109.085 108.443 108.849 109.276 109.773 110.638
3 108.263 111.578 110.722 110.812 111.796 112.981 113.895
4 112.395 121.148 118.937 118.866 121.423 125.364 127.838
5 85.117 91.461 90.938 88.628 90.778 95.501 97.910
6 104.304 110.381 109.473 109.288 110.801 111.962 112.910
7 162.589 180.246 174.233 177.288 182.197 187.268 191.290
8 112.309 118.474 114.886 117.291 119.061 122.658 125.107
9 106.236 107.223 106.938 107.096 107.413 107.445 107.711
10 106.326 106.415 106.497 106.355 106.418 106.390 106.628
11 111.445 112.692 113.140 111.721 113.169 112.739 113.098
12 89.387 88.411 87.727 89.529 88.874 87.513 86.753
13 112.498 115.429 114.739 114.816 115.505 116.657 117.551
14 106.543 107.854 107.318 107.882 108.031 108.186 109.027
15
16
17
18
19
105.426
106.010
113.724
87.031
105.379
106.615
106.011
115.882
88.322
106.599
106.165
105.064
115.617
87.648
106.001
106.573
106.484
115.239
88.279
106.753
106.776
106.823
116.006
88.612
106.950
106.946
105.672
116.666
88.748
106.690
107.884
106.785
117.266
89.493
107.785
20 105.871 109.455 108.537 108.821 109.174 111.289 111.982
21 97.617 98.131 98.593 98.568 97.365 97.996 99.421
22 103.735 104.552 104.423 104.397 104.503 104.885 105.783
23 137.017 142.015 138.843 144.189 142.679 142.348 140.108
24 115.612 118.570 117.775 117.960 119.303 119.243 119.110
25 109.037 111.422 111.258 110.096 112.162 112.172 112.580
26 80.284 88.127 87.241 87.394 88.793 89.079 91.690
27 80.311 87.313 85.785 86.724 86.923 89.820 90.725
28 102.288 110.431 109.108 110.065 109.557 112.996 113.580
29 90.733 100.506 99.421 99.560 99.558 103.484 103.419
30 107.473 114.890 113.460 114.790 114.049 117.262 118.143
31 126.294 131.119 130.924 130.124 129.289 134.141 135.326
Gross domestic product.........
Personal consumption
expenditures.................................
G oods................................................
Durable goods..............................
Motor vehicles and p arts........
Furnishings and durable
household equipment.........
Recreational goods and
vehicles.................................
Other durable goods...............
Nondurable goods.......................
Food and beverages
purchased for off-premises
consumption........................
Clothing and footwear.............
Gasoline and other energy
goods....................................
Other nondurable goods.........
Services.............................................
Household consumption
expenditures (for services)....
Housing and utilities...............
Health c a re ...............................
Transportation services...........
Recreation services................
Food services and
accommodations................
Financial services and
insurance..............................
Other services.........................
Final consumption expenditures
of nonprofit institutions serving
households (N PISHs)1..........
Gross output of nonprofit
institutions 2.........................
Less: Receipts from sales of
goods and services by
nonprofit institutions 3.........
Gross private domestic investment
Fixed investment...............................
Nonresidential...............................
Structures.................................
Equipment and software.........
Information processing
equipment and software
Computers and
peripheral equipment
Software 4........................
Other.................................
Industrial equipment...........
Transportation equipment
Other equipment..................
Residential....................................
165.101
127.154
110.248
95.562
86.247
94.208
42.268
171.282
134.412
111.256
102.314
101.009
100.415
47.371
180.984
131.563
111.804
99.283
100.004
97.602
45.433
171.374
133.533
109.830
102.504
103.729
99.239
46.364
154.957
134.780
110.649
102.531
99.273
101.494
47.855
177.812
137.773
112.740
104.937
101.032
103.326
49.832
180.258
138.744
113.819
104.700
98.766
107.555
51.332
136.152
137.695
132.793
107.746
106.561
114.630
140.785
143.514
134.720
110.369
108.793
119.410
139.356
141.961
133.573
110.179
108.652
118.950
141.152
144.389
133.940
110.936
109.422
119.637
141.824
144.774
135.259
110.766
109.084
120.394
140.808
142.930
136.109
109.593
108.012
118.658
141.814
144.157
136.620
111.033
109.401
120.386
E xports..............................................
Goods............................................
Services........................................
Imports...............................................
Goods............................................
Services.........................................
49
50
51
52
53
54
55
56
57
58
59
106.497 104.692 104.804 104.622 105.620 103.721 102.644
Government consumption
expenditures and gross
investment.....................................
Net exports of goods and services
119.480
118.683
116.338
135.354
121.114
118.884
137.535
99.224
101.434
90.054
116.869
114.975
112.759
130.717
120.801
119.648
128.846
97.865
100.569
86.636
116.751
115.031
113.213
127.695
120.317
119.015
129.524
98.103
100.818
86.829
116.685
114.987
112.619
131.887
120.205
118.946
129.088
97.858
100.552
86.669
119.359
118.518
116.631
131.676
121.082
120.142
127.469
97.932
100.612
86.806
114.679
111.362
108.571
131.611
121.599
120.490
129.300
97.565
100.292
86.239
2011
2012
112.196
107.997
106.235
120.247
120.974
120.071
127.067
97.264
100.154
85.266
2012
I
32
33
34
35
36
37
38
39
40
41
4?
43
44
45
46
47
48
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the
world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world;
includes membership dues and fees.
4. Excludes software “embedded,” or bundled, in computers and other equipment.
Line
I
Federal...............................................
National defense..........................
Consumption expenditures....
Gross investment.....................
Nondefense..................................
Consumption expenditures....
Gross investment.....................
State and local..................................
Consumption expenditures.........
Gross investment.........................
II
2013
III
IV
I
1 113.369 115.388 114.608 115.050 115.807 116.085 116.423
2 113.790 115.790 115.300 115.496 115.952 116.412 116.675
3 108.822 110.203 110.256 109.743 110.261 110.550 110.297
4 90.799 89.576 90.157 89.888 89.358 88.900 88.660
5 107.528 108.994 108.293 109.425 109.125 109.135 109.378
6
92.359
92.179
92.497
92.443
92.114
91.663
91.648
7 66.873 62.771 64.219 63.258 62.263 61.343 60.593
8 114.252 114.980 115.851 114.447 114.743 114.881 114.947
9 119.430 122.427 122.136 121.472 122.659 123.439 123.181
10 118.230 120.887 120.497 120.720 120.901 121.430 121.836
11 99.778 103.382 102.208 103.457 103.799 104.063 104.408
12 157.728 163.843 165.192 157.431 164.016 168.732 165.447
13 114.571 116.471 116.108 116.244 116.818 116.713 116.622
14 116.435 118.779 117.989 118.576 118.997 119.553 120.105
1b
16
17
18
19
117.164
115.037
117.675
121.355
114.064
119.646
117.175
119.866
123.834
117.248
118.810
116.391
118.975
123.445
116.300
119.427
116.801
119.566
124.011
116.871
119.901
117.328
120.255
123.781
117.681
120.444
118.179
120.668
124.098
118.139
121.025
118.920
121.286
124.728
118.695
20 118.699 122.112 120.894 122.045 122.517 122.993 123.671
21 118.374 120.969 120.166 120.690 121.361 121.659 120.905
22 118.613 121.291 120.609 121.435 121.304 121.815 123.045
23 100.644 100.239 100.339 100.337
99.745 100.533 100.521
24 115.204 117.254 116.389 117.020 117.503 118.106 118.838
25
26
27
28
29
30
120.770 123.815 122.556 123.443 124.367 124.893 125.922
106.439 107.747 107.292 107.647 107.818 108.231 108.624
106.680
107.359
126.850
100.445
108.175
108.993
131.222
101.236
107.661
108.562
130.167
101.001
107.977
108.878
131.198
101.094
108.324
109.104
131.540
101.282
108.739
109.428
131.982
101.567
109.154
109.601
132.487
101.636
31
89.903
89.120
89.396
89.250
89.042
88.792
88.842
32
33
34
35
36
37
38
V)
40
41
4?
43
44
45
46
47
48
60.104
100.546
92.868
118.784
105.059
112.253
103.406
58.668
100.118
92.068
120.950
107.289
115.849
104.288
58.959
100.465
92.216
120.377
106.581
114.630
103.439
58.632
100.356
92.151
120.928
106.388
115.440
103.754
58.754
99.950
92.021
121.022
107.231
116.399
104.593
58.327
99.703
91.884
121.474
108.954
116.926
105.364
58.085
100.176
91.505
121.764
108.890
116.990
106.719
117.860
118.182
116.972
121.851
122.482
118.126
118.871
118.642
119.298
122.618
123.356
118.376
118.652
118.617
118.609
124.156
125.262
118.117
118.802
118.511
119.385
122.942
123.743
118.399
118.792
118.549
119.255
120.907
121.346
118.133
119.237
118.892
119.945
122.465
123.074
118.855
119.680
119.282
120.515
122.810
123.364
119.468
49
50
51
52
53
54
55
56
57
58
59
121.233 123.443 122.979 123.157 123.574 124.063 124.582
116.721
117.411
118.894
108.212
115.337
117.100
103.961
124.001
123.474
126.079
118.565
119.483
121.213
108.803
116.725
118.533
105.041
126.462
125.587
130.230
118.038
119.008
120.695
108.582
116.096
117.848
104.769
126.042
125.320
129.051
118.403
119.268
120.921
109.054
116.664
118.451
105.114
126.089
125.170
130.082
118.679
119.541
121.260
108.922
116.948
118.769
105.186
126.605
125.665
130.699
119.141
120.115
121.976
108.652
117.193
119.065
105.096
127.110
126.193
131.088
119.852
121.004
122.997
108.759
117.572
119.443
105.484
127.497
126.549
131.628
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the
world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world;
includes membership dues and fees.
4. Excludes software “embedded,” or bundled, in computers and other equipment.
National Data
D-12
May 2013
Table 1.5.5. Gross Domestic Product, Expanded Detail
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Gross domestic product.................................................................................................
Personal consumption expenditures
G oods................................................
Durable goods...............................
Motor vehicles and parts.........
Furnishings and durable household equipment................................................................
Recreational goods and vehicles........................................................................................
Other durable goods...............
Nondurable goods.....................................................................................................................
Food and beverages purchased for off-premises consumption.....................................
Clothing and footwear..........................................................................................................
Gasoline and other energy goods....................
Other nondurable goods...................................
Services.......................................................................
Household consumption expenditures (for services)...........................................................
Housing and utilities...........................................
Health care.............................................................................................................................
Transportation services...........
Recreation services................
Food services and accommodations.................................................................................
Financial services and insurance........................................................................................
Other services........................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (N PISH s)1
Gross output of nonprofit institutions 2...............................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3...............
Gross private domestic investment.......................................................................................
Fixed investment..................
Nonresidential..................
Structures.....................
Equipment and software......................................................................................................
Information processing equipment and software.........................................................
Computers and peripheral equipm ent....
Software 4.....................................................................................................................
O ther....................
Industrial equipment
Transportation equipm ent...............................................................................................
Other equipment...............................................................................................................
Residential.................................................................................................................................
Change in private inventories.......................................................................................................
Farm...................................
Nonfarm............................
Net exports of goods and services
Exports............................................................................................................................................
G oods.........................................................................................................................................
Services......................................................................................................................................
Imports............................................................................................................................................
G oods.........................................................................................................................................
Services......................................................................................................................................
Government consumption expenditures and gross investment.......................................
Federal...............................................
National defense..........................
Consumption expenditures
Gross investment.....................
Nondefense...................................
Consumption expenditures ,
Gross investment.....................
State and local..................................
Consumption expenditures.........
Gross investment......................................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
II
2013
III
IV
15,075.7
10,729.0
15,684.8
11,119.6
15,478.3
11,007.2
15,585.6
11,067.2
15,811.0
11,154.4
15,864.1
11,249.6
16,010.2
11,363.9
3,624.8
1,146.4
373.6
251.7
340.1
181.0
2,478.4
810.2
349.2
428.3
890.7
7,104.2
6,812.3
1,929.9
1,751.6
302.0
394.5
670.9
807.1
956.2
291.9
1,164.5
872.5
3,783.2
1,218.9
407.0
265.8
354.0
192.1
2,564.2
829.1
365.9
440.3
929.1
7,336.5
7,035.1
1,965.9
1,818.1
312.8
410.2
713.6
829.1
985.5
301.4
1,215.5
914.1
3,755.9
1,204.6
402.1
264.6
350.2
187.7
2,551.3
827.0
363.1
440.5
920.6
7,251.3
6,956.4
1,935.2
1,800.4
309.4
404.6
700.5
827.5
978.7
295.0
1,198.4
903.5
3,741.5
1,200.3
396.0
264.0
351.0
189.4
2,541.2
827.5
363.0
428.5
922.3
7,325.7
7,019.4
1,968.3
1,803.5
313.0
409.5
709.0
830.9
985.2
306.3
1,206.8
900.5
3,792.5
1,218.9
404.5
266.7
355.1
192.7
2,573.6
829.2
368.9
443.1
932.4
7,361.9
7,060.6
1,983.5
1,825.9
313.6
413.1
714.1
825.3
985.1
301.3
1,225.6
924.3
3,842.8
1,252.0
425.5
268.1
359.5
198.8
2,590.8
832.6
368.4
448.9
940.9
7,406.9
7,103.9
1,976.4
1,842.6
314.9
413.7
730.7
832.7
992.9
303.0
1,231.3
928.3
3,865.0
1,273.2
437.2
270.4
362.8
202.9
2,591.8
837.3
370.8
436.3
947.4
7,498.9
7,200.7
2,009.7
1,861.6
319.2
419.9
739.3
839.5
1,011.5
298.2
1,237.5
939.3
1,854.9
2,062.3
2,032.2
2,041.7
2,080.1
2,095.1
2,165.6
1,818.3
1,479.6
404.8
1,074.7
539.6
78.3
278.7
182.6
181.2
164.7
189.2
338.7
36.6
-6.1
42.7
2,004.2
1,621.3
463.4
1,157.9
555.4
79.3
293.4
182.7
197.5
196.9
208.1
382.9
58.1
-16.1
74.1
1,959.7
1,595.5
454.7
1,140.8
556.3
84.3
288.1
183.9
190.7
193.6
200.1
364.2
72.6
-4.1
76.7
1,986.9
1,614.1
458.9
1,155.2
552.0
79.3
292.1
180.5
197.8
200.5
204.9
372.8
54.8
-12.7
67.5
1,997.9
1,610.0
460.1
1,149.9
547.2
71.9
293.7
181.6
198.0
193.4
211.3
387.9
82.3
-26.5
108.7
2,072.4
1,665.5
479.9
1,185.6
566.1
81.9
299.5
184.8
203.4
200.0
216.1
406.9
22.7
-21.0
43.7
2,101.3
1,676.7
481.4
1,195.3
571.4
82.7
303.0
185.8
203.4
195.4
225.1
424.5
64.3
11.7
52.7
-568.1
-559.9
-615.8
-576.9
-516.8
-530.2
-549.9
2,094.2
1,474.5
619.7
2,662.3
2,229.2
433.0
2,184.0
1,542.8
641.2
2,744.0
2,291.9
452.1
2,157.9
1,525.8
632.1
2,773.7
2,324.3
449.3
2,188.5
1,550.5
637.9
2,765.4
2,312.4
453.0
2,198.7
1,555.1
643.5
2,715.5
2,260.6
454.9
2,191.1
1,539.8
651.3
2,721.3
2,270.3
451.0
2,215.0
1,558.1
656.9
2,764.9
2,304.9
460.0
3,059.8
3,062.8
3,054.6
3,053.7
3,093.3
3,049.7
3,030.6
1,222.1
820.8
712.1
108.7
401.3
349.4
51.8
1,837.7
1,518.0
319.7
1,214.3
809.1
703.6
105.6
405.1
356.0
49.1
1,848.5
1,530.8
317.7
1,207.7
806.4
703.5
102.9
401.3
352.1
49.2
1,846.9
1,531.4
315.5
1,210.7
807.8
701.1
106.7
402.9
353.7
49.2
1,843.0
1,525.5
317.5
1,241.4
834.5
728.1
106.4
406.8
358.2
48.6
1,851.9
1,532.4
319.5
1,197.3
787.9
681.8
106.1
409.4
360.2
49.3
1,852.3
1,534.0
318.3
1,178.4
769.7
672.7
97.1
408.6
360.0
48.6
1,852.2
1,536.2
316.1
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Excludes software “embedded,” or bundled, in computers and other equipment.
I
May 2013
D-13
S u rv ey of C urrent B usiness
Table 1.5.6. Real Gross Domestic Product, Expanded Detail, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
13,299.1
9,428.8
13,593.2
9,603.3
13,506.4
9,546.8
13,548.5
9,582.5
13,652.5
9,620.1
13,665.4
9,663.9
13,750.1
9,740.0
3,331.0
1,262.6
347.4
272.5
508.6
158.4
2,075.2
685.3
350.0
271.5
777.4
6,101.5
5,814.3
1,677.7
1,488.5
248.9
345.9
565.2
681.8
806.1
290.1
1,010.8
722.5
3,432.9
1,360.9
373.3
288.4
563.8
167.1
2,094.5
685.8
353.9
268.6
797.7
6,176.6
5,879.9
1,677.7
1,516.8
252.6
349.9
584.4
685.4
812.5
300.7
1,036.7
738.3
3,406.6
1,336.1
371.2
286.0
545.0
162.1
2,088.9
686.4
355.3
266.5
792.9
6,145.9
5,855.1
1,662.7
1,513.3
250.6
347.9
579.5
688.6
811.5
293.9
1,029.7
737.2
3,409.4
1,335.3
361.8
285.5
554.6
165.5
2,092.0
685.4
350.8
272.0
793.5
6,178.2
5,877.6
1,685.2
1,508.4
252.4
350.4
581.0
688.4
811.3
305.3
1,031.3
729.5
3,439.7
1,364.0
370.5
289.5
569.9
168.0
2,098.2
685.9
355.4
270.0
798.2
6,186.7
5,888.8
1,690.6
1,518.4
253.4
351.0
582.9
680.0
812.1
302.1
1,043.1
743.2
3,476.1
1,408.3
389.8
292.5
585.8
173.0
2,098.8
685.7
354.0
265.9
806.2
6,195.6
5,898.2
1,672.3
1,527.0
253.8
350.2
594.2
684.4
815.1
301.4
1,042.5
743.2
3,504.2
1,436.1
399.7
295.0
598.4
176.5
2,104.0
687.2
355.2
263.5
812.4
6,243.7
5,949.9
1,689.9
1,534.9
255.9
353.8
597.9
694.4
822.0
296.6
1,041.4
745.9
1,744.0
1,914.4
1,895.1
1,898.4
1,928.8
1,935.1
1,991.8
1,704.5
1,378.2
319.2
1,070.0
600.2
1,853.1
1,487.9
353.5
1,143.8
623.2
1,820.6
1,470.0
349.7
1,129.6
622.2
1,840.6
1,482.9
350.2
1,142.8
618.4
1,844.8
1,476.1
350.2
1,135.4
614.5
1,906.3
1,522.4
364.0
1,167.4
637.5
1,925.5
1,530.3
363.8
1,176.2
643.2
277.2
196.7
152.6
156.7
168.6
327.6
31.0
-3.8
36.5
293.0
198.5
163.3
183.6
179.7
367.1
43.0
-11.2
59.6
286.8
199.4
158.5
181.7
174.7
352.1
56.9
-2.6
62.0
291.1
195.9
163.6
188.5
177.6
359.3
41.4
-7.9
53.2
293.8
197.4
163.7
180.4
181.6
370.9
60.3
-19.2
88.2
300.4
201.1
167.5
183.6
184.9
386.2
13.3
-15.2
34.8
302.5
203.0
167.1
179.5
192.5
397.8
50.3
6.7
42.6
I
Gross domestic product.................................................................................................
Personal consumption expenditures
G oods.................................................
Durable goods................................
Motor vehicles and parts..........
Furnishings and durable household equipment................................................................
Recreational goods and vehicles.......................................................................................
Other durable goods................
Nondurable goods.........................
Food and beverages purchased for off-premises consumption.....................................
Clothing and footwear..........................................................................................................
Gasoline and other energy goods......................................................................................
Other nondurable goods......................................................................................................
Services..........................................................................................................................................
Household consumption expenditures (for services)...........................................................
Housing and utilities.............................................................................................................
Health care.................................
Transportation services............
Recreation services..................
Food services and accommodations.................................................................................
Financial services and insurance........................................................................................
Other services.......................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (N PISH s)1
Gross output of nonprofit institutions 2...............................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3 ...............
Gross private domestic investment......................................................................................
Fixed investment............................................................................................................................
Nonresidential...................
Structures.....................
Equipment and software
.................................................................
Information processing equipment and software.........................................................
Computers and peripheral equipm ent4....................................................................
Software 5...................................................
Other............................................................
Industrial equipm ent........................................................................................................
Transportation equipment...............................................................................................
Other equipment......
Residential........................
Change in private inventories
Farm...................................
Nonfarm............................
Net exports of goods and services.......................................................................................
Exports............................................................................................................................................
Goods
Services.....................................................................................................................................
Imports............................................................................................................................................
G oods.........................................................................................................................................
Services.....................................................................................................................................
Government consumption expenditures and gross investment.......................................
Federal............................................................................................................................................
National defense.......................................................................................................................
Consumption expenditures.................................................................................................
Gross investment..................................................................................................................
Nondefense.......................
Consumption expenditures.................................................................................................
Gross investment.........
State and local......................
Consumption expenditures......................................................................................................
Gross investment.............
Residual.....................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
II
2013
III
IV
I
-408.0
-400.7
-415.5
-407.4
-395.2
-384.7
-400.8
1,776.9
1,247.6
529.8
2,184.9
1,820.0
366.6
1,837.3
1,300.4
537.5
2,238.0
1,858.2
381.9
1,818.7
1,286.3
532.9
2,234.2
1,855.8
380.4
1,842.1
1,308.3
534.4
2,249.6
1,868.9
382.6
1,850.9
1,311.8
539.6
2,246.1
1,863.1
385.0
1,837.6
1,295.1
543.0
2,222.3
1,844.8
379.5
1,850.8
1,306.2
545.1
2,251.5
1,868.6
385.0
2,523.9
2,481.1
2,483.7
2,479.4
2,503.1
2,458.1
2,432.6
1,047.0
699.1
599.0
100.4
347.9
298.4
49.9
1,482.0
1,229.4
253.6
-57.4
1,024.1
677.3
580.5
97.0
347.0
300.3
46.7
1,461.7
1,218.9
243.9
-90.4
1,023.1
677.6
582.9
94.8
345.6
298.7
47.0
1,465.3
1,221.9
244.5
-83.5
1,022.5
677.3
579.8
97.9
345.3
298.6
46.8
1,461.6
1,218.7
244.0
-83.2
1,045.9
698.1
600.5
97.7
347.8
301.6
46.2
1,462.7
1,219.4
244.4
-85.5
1,004.9
656.0
559.0
97.7
349.3
302.4
46.9
1,457.2
1,215.6
242.8
-109.6
983.2
636.2
546.9
89.2
347.5
301.4
46.1
1,452.7
1,213.9
240.1
-115.1
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. The quantity index for computers can be used to accurately measure the real growth of this component. However, because computers exhibit rapid changes in prices relative to other prices in the economy, the
chained-dollar estimates should not be used to measure the component’s relative importance or its contribution to the growth rate of more aggregate series; accurate estimates of these contributions are shown in table
1.5.2 and real growth rates are shown in table 1.5.1.
5. Excludes software “embedded,” or bundled, in computers and other equipment.
N o te . The residual line is the difference between the first line and the sum of the most detailed lines.
National Data
D-14
May 2013
Table 1.6.4. Price Indexes for
Gross Domestic Purchases
Table 1.6.7. Percent Change From Preceding Period in
Prices for Gross Domestic Purchases
[Index numbers, 2005=100]
[Percent]
Seasonally adjusted
Line
2011
2012
2012
I
Gross domestic purchases..........
Personal consumption expenditures
Goods..................................................
Durable goods................................
Motor vehicles and parts..........
Furnishings and durable
household equipment...........
Recreational goods and
vehicles..................................
Other durable goods..................
Food and beverages purchased
for off-premises consumption
Clothing and footwear..............
Gasoline and other energy
Other nondurable goods...........
S ervices..............................................
Household consumption
expenditures...............................
Housing and utilities..................
Healthcare.................................
Transportation services............
Recreation services...................
Food services and
accommodations...................
Financial services and
insurance................................
Other services...........................
Final consumption expenditures of
nonprofit institutions serving
households (NPISHs)...............
Gross private domestic investment
Fixed investment.................................
Nonresidential................................
Structures...................................
Equipment and software...........
Information processing
equipment and software...
Computers and peripheral
equipment.....................
Software 1.........................
O ther..................................
Industrial equipment.............
Transportation equipment....
Other equipm ent...................
Residential......................................
Change in private inventories...........
Nonfarm...........................................
Government consumption
expenditures and gross
investment.......................................
Federal................................................
National defense.............................
Consumption expenditures.......
Gross investment.......................
Nondefense....................................
Consumption expenditures.......
Gross investment.......................
State and local....................................
Consumption expenditures.......
Gross investment.......................
1 114.208
2 113.790
3 108.822
4
90.799
5 107.528
II
2013
III
IV
110.203
89.576
108.994
110.256
90.157
108.293
109.743
89.888
109.425
110.261
89.358
109.125
110.550
88.900
109.135
110.297
88.660
109.378
6
92.359
92.179
92.497
92.443
92.114
91.663
91.648
7
8
q
66.873
114.252
119.430
62.771
114.980
122.427
64.219
115.851
122.136
63.258
114.447
121.472
62.263
114.743
122.659
61.343
114.881
123.439
60.593
114.947
123.181
10
11
118.230
99.778
120.887
103.382
120.497
102.208
120.720
103.457
120.901
103.799
121.430
104.063
1'r> 157.728
13
14
114.571
116.435
163.843
116.471
118.779
165.192
116.108
117.989
157.431
116.244
118.576
164.016
116.818
118.997
168.732
116.713
119.553
15
16
17
18
19
117.164
115.037
117.675
121.355
114.064
119.646
117.175
119.866
123.834
117.248
118.810
116.391
118.975
123.445
116.300
119.427
116.801
119.566
124.011
116.871
119.901
117.328
120.255
123.781
117.681
120.444
118.179
120.668
124.098
118.139
20
118.699
122.112
120.894
122.045
122.517
122.993
21
22
118.374
118.613
120.969
121.291
120.166
120.609
120.690
121.435
121.361
121.304
121.659
121.815
100.644
100.239
100.339
100.337
99.745
100.533
23
24
25
26
27
28
106.439 107.747 107.292 107.647 107.818 108.231
106.680
107.359
126.850
100.445
108.175
108.993
131.222
101.236
107.661
108.562
130.167
101.001
107.977
108.878
131.198
101.094
108.324
109.104
131.540
101.282
108.739
109.428
131.982
101.567
29
89.903
89.120
89.396
89.250
89.042
88.792
30
31
32
33
34
35
36
37
3fl
39
60.104
100.546
92.868
118.784
105.059
112.253
103.406
58.668
100.118
92.068
120.950
107.289
115.849
104.288
58.959
100.465
92.216
120.377
106.581
114.630
103.439
58.632
100.356
92.151
120.928
106.388
115.440
103.754
58.754
99.950
92.021
121.022
107.231
116.399
104.593
58.327
99.703
91.884
121.474
108.954
116.926
105.364
40
41
42
43
44
45
46
47
48
49
50
Gross domestic purchases...........
Personal consumption expenditures
Goods..................................................
Motor vehicles and p arts..........
Furnishings and durable
household equipment...........
Recreational goods and
vehicles..................................
108.624
Gross private domestic investment
109.154
Fixed investment.................................
109.601
Nonresidential................................
132.487
Structures...................................
101.636
Equipment and software...........
Information processing
88.842
equipment and software...
Computers and peripheral
equipm ent.....................
58.085
100.176
Software 1.........................
91.505
O ther..................................
121.764
Industrial equipment.............
108.890
Transportation equipment....
116.990
Other equipment....................
106.719
Residential......................................
Chanae in orivate inventories...........
..............
Farm ................................................
Government consumption
expenditures and gross
121.233 123.443 122.979 123.157 123.574 124.063 124.582
investment.......................................
116.721
117.411
118.894
108.212
115.337
117.100
103.961
124.001
123.474
126.079
118.565
119.483
121.213
108.803
116.725
118.533
105.041
126.462
125.587
130.230
118.038
119.008
120.695
108.582
116.096
117.848
104.769
126.042
125.320
129.051
118.403
119.268
120.921
109.054
116.664
118.451
105.114
126.089
125.170
130.082
118.679
119.541
121.260
108.922
116.948
118.769
105.186
126.605
125.665
130.699
119.141
120.115
121.976
108.652
117.193
119.065
105.096
127.110
126.193
131.088
51
54.725
51.885
52.604
52.127
51.901
50.909
52
53
54
114.993
117.760
140.730
117.026
120.114
143.150
116.523
119.923
144.313
116.750
120.118
139.316
117.172
119.938
142.777
117.658
120.478
146.195
55
56
112.995
113.369
114.899
115.388
114.348
114.608
114.745
115.050
115.077
115.807
115.426
116.085
57
58
59
113.974
119.199
98.230
116.049
122.954
98.215
115.245
121.328
92.319
115.699
122.175
93.460
116.477
123.808
105.480
116.775
124.505
101.601
60
61
62
113.317
113.371
114.219
115.285
115.417
116.192
114.704
114.628
115.703
115.104
115.065
115.911
115.475
115.849
116.346
115.856
116.126
116.806
63
114.198
116.152
115.665
115.873
116.301
116.762
2011
2012
119.852
121.004
122.997
108.759
117.572
119.443
105.484
127.497
126.549
131.628
2012
I
Food and beverages purchased
121.836
for off-premises consumption
104.408
Clothing and footwear...............
Gasoline and other energy
165.447
116.622
Other nondurable goods...........
120.105
Services...............................................
Household consumption
121.025
expenditures...............................
118.920
Housing and utilities..................
121.286
Health care.................................
124.728
Transportation services............
118.695
Recreation services...................
Food services and
123.671
accommodations...................
Financial services and
120.905
insurance................................
123.045
Other services............................
Final consumption expenditures of
nonprofit institutions serving
100.521
households (NPISHs)...............
Federal.................................................
National defense.............................
Consumption expenditures.......
Gross investment.......................
Nondefense....................................
Consumption expenditures.......
Gross investment.......................
State and local....................................
Consumption expenditures.......
Gross investment.......................
II
2013
III
IV
I
1
2
3
4
5
2.5
2.4
1.7
1.8
2.5
2.5
0.7
0.7
1.4
1.6
1.6
1.6
1.1
0.9
3.8
-0.9
3.4
1.3
-1 3
1.4
2.5
-1.0
-0.3
-1.8
-1 2
4.2
1.9
-2 3
-1.1
1.1
-2.0
0.0
-0.9
-1 1
0.9
6
-1.5
-0.2
2.0
-0.2
-1.4
-1.9
-0.1
7
8
q
-6.8
3.0
6.0
-6.1
0.6
25
-5.3
1.6
42
-5.9
-4 8
-2 2
-6.1
1.0
40
-5.8
0.5
26
-4.8
02
-0 8
10
11
4.0
1.7
2.2
3.6
1.3
2.4
0.7
5.0
0.6
1.3
1.8
1.0
1.3
1.3
1?
13
14
25.9
1.6
1.8
39
1.7
2.0
15.6 -1 7 5
2.6
0.5
2.5
2.0
178
2.0
1.4
120
-0.4
1.9
-7 6
-0.3
1.9
15
16
17
18
19
1.8
1.5
1.8
2.7
1.7
2.1
1.9
1.9
2.0
2.8
2.5
1.5
1.9
2.8
5.1
2.1
1.4
2.0
1.8
2.0
1.6
1.8
2.3
-0.7
2.8
1.8
2.9
1.4
1.0
1.6
1.9
2.5
2.1
2.0
1.9
20
2.5
2.9
3.5
3.9
1.6
1.6
2.2
21
22
1.6
1.9
2.2
2.3
3.6
3.1
1.8
?.8
2.2
-0.4
1.0
1.7
-2.5
4.1
23
24
25
26
27
28
0.6
-0.4
0.7
0.0
-2.3
3.2
0.0
1.5
1.2
1.0
1.3
0.6
1.5
1.5
1.6
1.7
4.7
0.6
1.4
1.5
3.4
0.8
1.2
1.8
2.7
1.4
1.2
1.2
3.2
0.4
1.3
0.8
1.0
0.7
1.5
1.2
1.4
1.1
1.5
0.6
1.5
0.3
29
-0 ./
-0.9
-0.1
-0.7
-0.9
-1.1
0.2
30
31
32
33
34
35
36
V
38
39
-4.2
-0.1
-0.2
3.0
2.0
1.4
0.9
-2.4
-0.4
-0.9
1.8
2.1
3.2
0.9
-0.7
-0.2
0.4
2.4
4.1
1.9
-1.4
-2.2
-0.4
-0.3
1.8
-0.7
2.9
1.2
0.8
-1.6
-0.6
0.3
3.2
3.4
3.3
-2.9
-1.0
-0.6
1.5
6.6
1.8
3.0
-1.6
1.9
-1.6
1.0
-0.2
0.2
5.2
40
41
42
43
44
45
46
47
48
49
50
3.3
1.8
3.6
0.6
1.4
1.6
1.7
2.8
3.0
3.2
1.7
2.2
2.3
1.3
3.7
3.9
2.8
1.6
1.8
2.0
0.5
1.2
1.2
1.0
2.0
1.7
3.3
3.2
4.2
4.6
1.7
1.2
1.2
0.8
3.8
4.0
3.1
1.2
0.9
0.8
1.8
2.0
2.1
1.3
0.1
-0.5
3.2
0.9
0.9
1.1
-0.5
1.0
1.1
0.3
1.6
1.6
1.9
1.6
1.9
2.4
-1.0
0.8
1.0
-0.3
1.6
1.7
1.2
2.4
3.0
3.4
0.4
1.3
1.3
1.5
1.2
1.1
1.7
51
-6.7
-5.2
-3.8
-3.6
-1.7
-7.4
-4.9
52
53
54
2.6
3.6
16.1
1.8
2.0
1.7
2.6
0.8
1.2
0.7
7.6 -13.1
1.5
-0.6
10.3
1.7
1.8
9.9
1.2
1.6
-4.4
55
56
1.9
2.1
1.7
1.8
2.4
2.0
1.4
1.6
1.2
2.7
1.2
1.0
1.3
1.2
57
58
59
2.2
4.2
4.4
1.8
2.0
3.2
1.4
0.0 -17.7
1.6
2.8
5.0
60
61
62
2.0
2.1
2.5
1.7
1.8
1.7
2.6
2.0
2.5
1.4
1.5
0.7
1.3
2.8
1.5
1.3
1.0
1.6
1.5
1.2
1.1
63
2.5
1.7
2.7
0.7
1.5
1.6
1.2
Addenda:
Final sales of computers to domestic
purchasers 2...................................
Gross domestic purchases excluding
final sales of computers to
118.003
domestic purchasers.....................
120.947
Food 3..................................................
144.560
Energy goods and services..............
Gross domestic purchases excluding
food and energy..............................
115.810
116.423
Gross domestic product.....................
Gross domestic product
excluding final sales of
117.128
computers...............................
124.938
Food 3..........................................
98.914
Energy goods and services.....
Gross domestic product
excluding food and energy...
116.278
116.467
Final sales of domestic product........
117.134
Final sales to domestic purchasers
Implicit price deflator for gross
117.097
domestic purchases 4....................
50.271
1. Excludes software “embedded," or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
3. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
Line
I
116.154 115.674 115.888 116.298 116.758 117.084
115.790 115.300 115.496 115.952 116.412 116.675
Addenda:
Final sales of computers to domestic
purchasers 2...................................
Gross domestic purchases excluding
final sales of computers to
domestic purchasers.....................
Food 3...................................................
Energy goods and services..............
Gross domestic purchases excluding
food and energy.............................
Gross domestic p roduct....................
Gross domestic product
excluding final sales of
com puters..............................
Food 3 .........................................
Energy goods and services......
Gross domestic product
excluding food and energy...
Final sales of domestic product........
Final sales to domestic purchasers
Implicit price deflator for gross
domestic purchases......................
Seasonally adjusted at annual rates
2.7
1.2
1.0
1.4
5.5
2.3
62.2 -13.9 -10.2
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
3. Food excludes personal consumption expenditures for purchased meals and beverages, which are classi
fied in food services.
4. The percent change for this series is calculated from the implicit price deflator in NIPA table 1.6.4.
May 2013
D-15
S u rv ey of C urrent B usiness
Table 1.7.1. Percent Change from Preceding Period in Real Gross Domestic
Product, Real Gross National Product, and Real Net National Product
Table 1.6.8. Contributions to Percent Change in
the Gross Domestic Purchases Price Index
[Percent]
Seasonally adjusted at annual rates
Line
2011
2012
2012
II
I
Percent change at annual rate:
Gross d om estic p u rch a se s...........
Percentage points at annual rates:
Personal consum ption expenditures
Goods..................................................
Durable goods................................
Motor vehicles and parts..........
Furnishings and durable
household equipment...........
Recreational goods and
vehicles..................................
Other durable goods..................
Nondurable goods.........................
Food and beverages purchased
for off-premises consumption
Clothing and footwear..............
Gasoline and other energy
goods .....................................
Other nondurable goods...........
S ervices..............................................
Household consumption
expenditures...............................
Housing and utilities..................
H ealthcare.................................
Transportation services............
Recreation services...................
Food services and
accommodations...................
Financial services and
insurance................................
Other services...........................
Final consumption expenditures of
nonprofit institutions serving
households (NPISHs)...............
Gross private dom estic investm ent
Fixed investment.................................
Nonresidential................................
Structures...................................
Equipment and software...........
Information processing
equipment and software...
Computers and peripheral
equipment.....................
Software 1.........................
O ther..................................
Industrial equipment.............
Transportation equipment....
Other equipment...................
Residential......................................
Change in private inventories...........
Farm ................................................
Nonfarm...........................................
G overnm ent consum ption
expenditures and gross
investm ent..........................................
Federal................................................
National defense............................
Consumption expenditures.......
Gross investment.......................
Nondefense....................................
Consumption expenditures.......
Gross investment.......................
State and local....................................
Consumption expenditures.......
Gross investment.......................
Addenda:
Final sales of computers to domestic
purchasers 2...................................
Gross domestic purchases excluding
final sales of computers to
domestic purchasers.....................
Food 3..................................................
Energy goods and services..............
Gross domestic purchases excluding
food and energy............................
Seasonally adjusted at annual rates
2013
III
IV
2011
2012
2012
Gross domestic product...........
1
2.5
1.7
2.5
0.7
1.4
1.6
1.1
2
3
4
5
1.66
1.20
1.70
0.47
1.09
1.09
0.62
0.86
-0.07
0.08
0.29
-0.10
0.03
0.59
-0.07
-0.01
-0.43
-0.09
0.10
0.44
-0.18
-0.03
0.25
-0.15
0.00
-0.21
-0.08
0.02
6
-0.02
0.00
0.03
0.00
-0.02
-0.03
0.00
7
8
9
-0.15
0.03
0.92
-0.14
0.01
0.39
-0.12
0.02
0.66
-0.13
-0.06
-0.34
-0.14
0.01
0.62
-0.13
0.01
0.40
-0.11
0.00
-0.13
10
11
0.20
0.04
0.12
0.08
0.07
0.05
0.04
0.11
0.03
0.03
0.09
0.02
0.07
0.03
12
13
14
0.59
0.09
0.81
0.10
0.09
0.90
0.40
0.15
1.11
-0.52
0.03
0.90
0.44
0.11
0.65
0.31
-0.02
0.85
-0.21
-0.02
0.84
15
16
17
18
19
0.79
0.18
0.20
0.05
0.04
0.91
0.23
0.21
0.04
0.07
1.10
0.18
0.21
0.05
0.13
0.90
0.17
0.22
0.04
0.05
0.69
0.22
0.26
-0.01
0.07
0.79
0.35
0.15
0.02
0.04
0.84
0.30
0.23
0.04
0.05
20
0.11
0.12
0.15
0.17
0.07
0.07
0.10
21
22
0.09
0.12
0.11
0.14
0.19
0.19
0.09
0.17
0.11
-0.03
0.05
0.10
-0.13
0.25
23
24
25
26
27
28
0.01
-0.01
0.01
0.00
-0.04
0.06
0.00
0.18
0.16
0.13
0.17
0.08
0.20
0.19
0.18
0.16
0.12
0.04
0.17
0.15
0.09
0.06
0.14
0.17
0.08
0.10
0.14
0.12
0.09
0.03
0.16
0.08
0.03
0.05
0.19
0.12
0.04
0.08
0.19
0.06
0.04
0.02
Plus: Income receipts from the
rest of the w orld.........................
Less: Income payments to the rest
of the w orld .................................
Equals: Gross national product
Less: Consumption of fixed capital
Private...........................
Government...................
General government
Government
enterprises...........
Equals: Net national product....
Addenda:
Gross national income 2 ...........
Net domestic product................
Net domestic income 3 .............
Net domestic purchases...........
Gross national product, current
2.2
2013
II
I
IV
III
I
2.0
1.3
3.1
0.4
-1.9
-10.9
2.1
-1.2
16.0
-0.2
23.5
-18.6
2.4
5.5
0.6
2.1
2.9
0.9
2.1
2.3
1.5
1.5
2.2
2.3
1.6
1.5
2.1
2.2
1.7
1.6
2.4
2.3
2.5
2.4
2.5
2.6
2.1
2.0
2.6
1
1.8
?
6.7
M
4
5
6
7
8
2.4
2.0
2.1
1.5
1.4
2.3
2.2
2.1
2.2
1.8
1.7
9
10
2.4
2.1
1.9
2.0
2.2
2.6
2.1
2.1
0.4
2.0
3.0
0.7
11
1?
13
14
15
1.8
2.0
1.8
1.8
1.7
2.0
1.9
2.2
2.0
2.1
3.8
2.4
1.9
4.1
1.8
-0.7
0.1
1.1
-1.1
0.8
1.6
1.4
3.3
1.5
2.7
2.6
3.2
0.1
2.7
-0.3
16
4.2
3.9
2.8
3.6
5.7
1.9
2.5
2.5
3.0
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
2. Gross national income deflated by the implicit price deflator for gross national product.
3. Net domestic income deflated by the implicit price deflator for net domestic product.
Table 1.7.3. Real Gross Domestic Product, Real Gross National Product,
and Real Net National Product, Quantity Indexes
[Index numbers, 2005=100]
29
-0.03
-0.03
30
31
32
33
34
35
36
37
38
39
-0.02
0.00
0.00
0.03
0.02
0.02
0.02
0.00
-0.01
0.01
-0.01
-0.01
-0.01
0.02
0.03
0.04
0.02
-0.01
-0.01
0.00
0.00
0.00
0.00
0.00
0.03
0.05
0.02
-0.03
-0.01
0.00
-0.01
-0.02
-0.03
-0.04
0.01
-0.01
-0.01
0.00
0.02
-0.01
0.04
0.03
0.02
0.00
0.03
0.00
-0.03
-0.01
0.00
0.04
0.04
0.08
-0.08
-0.06
-0.02
-0.01
-0.02
-0.01
0.02
0.08
0.02
0.07
0.01
0.00
0.01
-0.01
0.03
-0.02
0.01
0.00
0.00
0.13
-0.01
0.00
-0.01
Seasonally adjusted
Line
40
41
42
43
44
45
46
47
48
49
50
0.66
0.35
0.68
0.11
0.26
0.30
0.31
0.22
0.16
0.15
0.01
0.06
0.05
0.00
0.44
0.38
0.06
0.12
0.09
0.09
0.00
0.03
0.03
0.00
0.23
0.16
0.07
0.24
0.21
0.20
0.01
0.03
0.03
0.00
0.44
0.38
0.06
0.09
0.04
0.03
0.01
0.05
0.04
0.00
0.02
-0.05
0.06
0.07
0.05
0.05
0.00
0.02
0.02
0.00
0.19
0.15
0.04
0.12
0.10
0.10
-0.01
0.02
0.02
0.00
0.18
0.16
0.02
0.17
0.14
0.14
0.00
0.03
0.03
0.00
0.14
0.11
0.03
2011
2012
2012
I
II
2013
III
IV
I
Gross domestic product...........
1 105.356 107.687 106.999 107.333 108.156 108.259 108.929
Plus: Income receipts from the
rest of the w orld.........................
Less: Income payments to the rest
2 120.100 117.783 116.402 117.004 116.655 121.073
Equals: Gross national product
Less: Consumption of fixed capital
Private...........................
Government...................
General government
Government
enterprises...........
Equals: Net national product....
Addenda:
Net domestic product................
Net domestic purchases...........
a
4
5
6
7
8
97.853
97.633 100.808
95.764
96.333
97.626
106.304 108.520 107.655 108.204 108.984 109.237
115.244
114.609
118.129
118.720
117.683
117.124
120.217
120.737
116.735
116.142
119.421
119.974
117.365
116.805
119.901
120.430
117.971
117.433
120.405
120.908
118.663
118.115
121.139
121.636
119.410
118.885
121.783
122.253
9 115.196 117.622 116.674 117.264 117.895 118.656 119.423
10 105.066 107.251 106.397 106.935 107.738 107.932
11 103.978 106.293 105.640 105.934 106.786 106.810 107.470
12 101.008 103.121 102.638 102.847 103.536 103.463 104.224
Table 1.7.4. Price Indexes for Gross Domestic Product,
Gross National Product, and Net National Product
[Index numbers, 2005=100]
Seasonally adjusted
51
-0.06
-0.05
-0.03
-0.03
-0.01
-0.07
Line
-0.04
2011
2012
52
53
54
2.56
0.18
0.61
1.75
0.10
0.08
2.55
0.07
0.31
0.78
0.03
-0.55
1.44
-0.03
0.40
1.65
0.09
0.39
1.17
0.08
-0.17
55
1.71
1.52
2.14
1.26
1.06
1.11
1.22
2013
2012
I
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
3. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food
services.
Line
I
II
III
IV
I
Gross domestic product...........
1 113.369 115.388 114.608 115.050 115.807 116.085 116.423
Plus: Income receipts from the
rest of the w orld.........................
Less: Income payments to the rest
2 113.871 115.897 115.383 115.610 116.062 116.534
Equals: Gross national product
Less: Consumption of fixed capital
Private...........................
Government...................
General government
Government
enterprises...........
Equals: Net national product....
Addenda:
Net domestic product................
Net domestic purchases...........
H
4
5
6
7
8
114.200 116.054 115.615 115.796 116.189 116.617
113.363 115.387 114.609 115.050 115.804 116.086
109.032
107.300
118.042
117.439
110.905
108.993
120.823
119.976
110.317
108.459
119.965
119.211
110.825
108.910
120.760
119.960
111.080
109.130
121.193
120.307
111.397
109.474
121.372
120.425
111.953
110.056
121.800
120.821
9 121.129 125.157 123.828 124.854 125.727 126.218 126.811
10 114.024 116.072 115.265 115.695 116.525 116.802
11 114.040 116.082 115.272 115.704 116.539 116.810 117.115
12 114.971 116.928 116.463 116.634 117.067 117.548 117.839
National Data
D-16
May 2013
Table 1.7.5. Relation of Gross Domestic Product, Gross National Product,
Net National Product, National Income, and Personal Income
Table 1.7.6. Relation of Real Gross Domestic Product, Real Gross National
Product, and Real Net National Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
II
Seasonally adjusted at annual rates
2013
IV
III
Line
2011
2012
I
2012
I
2013
II
III
IV
I
Gross domestic product..........
1 15,075.7 15,684.8 15,478.3 15,585.6 15,811.0 15,864.1 16,010.2
Gross domestic product..........
1 13,299.1 13,593.2 13,506.4 13,548.5 13,652.5 13,665.4 13,750.1
Plus: Income receipts from the
rest of the world........................
Less: Income payments to the
?
Plus: Income receipts from the
rest of the w orld........................
Less: Income payments to the
2
Equals: Gross national product
Less: Consumption of fixed
capital........................................
Private..........................
Domestic business
Capital
consumption
allowances.....
Less: Capital
consumption
adjustm ent......
Households and
institutions...........
Government..................
General government
Government
enterprises..........
Equals: Net national product. ..
Less: Statistical discrepancy...
Equals: National income..........
Less: Corporate profits with
inventory valuation and capital
consumption adjustments
Taxes on production and
imports less subsidies
Contributions for
government social
insurance, dom estic....
Net interest and
miscellaneous
payments on assets....
Business current transfer
payments (net)............
Current surplus of
government
enterprises...................
Wage accruals less
disbursements.............
Plus: Personal income receipts on
assets........................................
Personal current transfer
receipts.........................
Equals: Personal income.........
Addenda:
Gross national factor income 1
Net domestic product..............
Net national factor income 2....
Net domestic purchases..........
783.7
782.3
769.6
775.1
775.8
808.5
3
554.7
532.7
539.3
527.8
541.8
531.8
4 15,327.5 15,927.8 15,693.2 15,832.9 16,054.2 16,130.8
Equals: Gross national product
5
6
7
1,936.8
1,587.4
1,285.7
2,011.7
1,647.8
1,339.0
1,984.9
1,625.9
1,321.3
2,004.8
1,642.0
1,335.1
2,019.8
1,654.2
1,344.0
2,037.4
1,669.0
1,355.6
2,060.5
1,688.8
1,371.3
8
1,509.5
1,257.6
1,240.2
1,251.9
1,263.2
1,275.1
1,307.5
Less: Consumption of fixed
capital........................................
P rivate..........................
Government..................
General government
Government
enterprises..........
Equals: Net national product. ..
Addenda:
9
223.8
-81.4
-81.1
-83.1
-80.8
-80.5
-63.7
10
11
12
301.7
349.4
291.0
308.8
363.9
302.3
304.6
359.0
298.5
306.9
362.8
301.5
310.2
365.6
303.5
313.4
368.4
305.7
317.6
371.6
308.2
60.5
62.1
62.7
13
58.4
61.6
61.3
14 13,390.8 13,916.1 13,708.3 13,828.1 14,034.4 14,093.4
1.1
15
31.9
67.2
77.7
138.5
51.7
1fi 13,358.9 13,848.8 13,707.2 13,750.5 13,895.9 14,041.7
63.4
17
1,827.0
1,950.6
1,900.1
1,921.9
1,967.6
2,013.0
18
1,036.2
1,069.2
1,067.7
1,069.8
1,067.8
1,071.3
1,082.6
19
919.3
948.3
942.6
944.4
948.7
957.6
1,097.1
20
527.4
504.3
515.6
489.5
518.2
493.8
537.0
21
132.6
128.0
130.5
127.9
123.8
129.7
147.2
22
-26.5
-34.0
-32.0
-34.1
-35.5
-34.5
-39.9
Net domestic product...............
Net domestic purchases..........
674.9
667.0
670.5
668.5
465.7
464.6
479.7
455.7
458 4
1,776.3
1,479.4
296.0
247.8
1,813.9
1,511.8
301.2
252.0
1,799.3
1,499.2
299.2
250.4
1,809.0
1,507.7
300.4
251.3
1,818.4
1,515.8
301.7
252.3
5
6
7
8
1,829.0
1,524.6
303.5
253.8
1,840.6
1,534.6
305.1
255.1
48.2
9
49.3
48.9
49.1
49.4
49.7
10 11,745.0 11,989.3 11,893.9 11,954.0 12,043.7 12,065.5
50.0
11
1?
13
14
15
13,270.9
13,493.8
11,522.4
11,494.4
11,923.3
13,534.9
13,745.5
11,778.9
11,721.0
12,172.7
13.505.5
13,692.9
11.706.6
11.705.6
12.115.7
0.0
0.0
0.0
0.0
0.0
0.0
1,685.1
1,749.7
1,696.4
1,730.8
1,712.8
1,858.7
15,043.8
15,295.7
14,153.4
13,138.9
13,107.0
12,216.6
13,707.0
15,617.5
15,860.5
14,697.4
13,673.1
13,605.8
12,685.7
14,233.0
15.477.1
15.692.1
14,525.9
13,493.4
13,492.3
12,541.0
14,109.1
15,507.9
15,755.3
14,591.6
13,580.8
13,503.1
12,586.8
14,157.7
15.672.6
15.915.7
14,759.6
13,791.3
13,652.8
12,739.8
14,308.1
13,621.0
13,850.5
11,836.3 11,909.4
11 792.0
12,213.1 12,302.9
[Index numbers, 2005=100]
Seasonally adjusted
2011
2012
2012
II
2013
III
IV
I
0.0
1,733.3
25 2,319.2 2,375.1 2,348.0 2,365.2 2,388.0 2,399.2 2,431.3
26 12,947.3 13,407.2 13,227.1 13,327.0 13,406.2 13,668.5 13,559.4
?7
?H
29
30
31
32
33
13,533.0
13,743.3
11,833.6
11,7148
12,221.7
Table 1.8.3. Command-Basis Real Gross Domestic Product
and Gross National Product, Quantity Indexes
Gross domestic product............
24
13,481.0
13,696.0
11,739.2
11,672.0
12,140.4
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
2. Gross national income deflated by the implicit price deflator for gross national product.
3. Net domestic income deflated by the implicit price deflator for net domestic product.
N ote. Except as noted in footnotes 1, 2 and 3, chained ( 2 0 0 5 ) dollar series are calculated as the product of the chaintype quantity index and the 2 0 0 5 current-dollar value of the corresponding series, divided by 1 0 0 . 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.
I
23
693.8
464.6
4 13,522.0 13,803.8 13,693.8 13,763.6 13,862.9 13,895.0
Line
15.812.5
16,079.1
14.912.5
13,826.7 13,949.7
13,775.0
12,875.1
14,356.9 14,499.6
1. Consists of compensation of employees, proprietors’ income with inventory valuation adjustment (IVA) and capital
consumption adjustment (CCAdj), rental income of persons with CCAdj, corporate profits with IVA and CCAdj, net interest
and miscellaneous payments, and consumption of fixed capital.
2. Consists of gross national factor income less consumption of fixed capital.
Gross domestic income 1 ........
688.2
Less: Exports of goods and
services.......................................
Plus: Imports of goods and
services.......................................
Equals: Gross domestic
purchases.................................
Plus: Exports of goods and
services, command basis 1........
Less: Imports of goods and
services, command basis 1........
Equals: Command-basis gross
domestic product12...............
1 105.356 107.687 106.999 107.333 108.156 108.259 108.929
2 136.152 140.785 139.356 141.152 141.824 140.808 141.814
3 107.746 110.369 110.179 110.936 110.766 109.593 111.033
4 102.646 104.796 104.261 104.517 105.197 105.209 105.968
5 140.505 144.076 142.963 144.720 144.882 143.816 144.977
6 114.956 116.498 118.281 117.712 115.178 114.972 116.486
7 104.573 106.975 106.011 106.549 107.709 107.645 108.334
Plus: Income receipts from the rest
of the world, command basis 1
Less: Income payments to the rest
of the world, command basis 1
8 119.746 117.524 116.166 116.780 116.476 120.899
Equals: Command-basis gross
national product1'3.................
Addenda:
10 105.508 107.802 106.661 107.412 108.529 108.617
Command-basis net domestic
p roduct4..................................
Net domestic product..................
Command-basis net national
9
97.846
97.555 100.852
95.778
96.333
97.601
11 103.126 105.522 104.557 105.080 106.313 106.151 106.831
12 103.978 106.293 105.640 105.934 106.786 106.810 107.470
13 104.190 106.464 105.298 106.063 107.246 107.257
14 105.066 107.251 106.397 106.935 107.738 107.932
Percent change from
preceding period
(seasonally adjusted at
annual rates):
Real gross domestic product
Command-basis gross
domestic product...............
Real gross national product...
Command-basis gross
national product..................
15
1.8
2.2
2.0
1.3
3.1
0.4
2.5
16
17
1.4
2.0
2.3
2.1
1.6
0.6
2.0
2.1
4.4
2.9
-0.2
0.9
2.6
18
1.7
2.2
0.3
2.8
4.2
0.3
1. Deflator is the gross domestic purchases price index.
2. This measure is called “real gross domestic income” in the System of National Accounts, 2008.
3. This measure is called “real gross national income” in the System of National Accounts, 2008.
4. Deflator is the net domestic purchases price index.
May 2013
D-17
S u rv ey of C urrent B usiness
Table 1.8.6. Command-Basis Real Gross Domestic Product and Gross National Product, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
II
2013
III
IV
I
Gross domestic product.......................................................................................................
1
13,299.1
13,593.2
13,506.4
13,548.5
13,652.5
13,665.4
13,750.1
Less: Exports of goods and services............................................................................................
Plus: Imports of goods and services.............................................................................................
2
3
4
5
6
7
1,776.9
2,184.9
1,837.3
2,238.0
1,818.7
2,234.2
1,842.1
2,249.6
1,850.9
2,246.1
1,837.6
2,222.3
1,850.8
2,251.5
13,698.8
13,985.8
13,914.4
13,948.5
14,039.3
14,040.8
14,142.2
1,833.7
2,331.1
1,880.3
2,362.3
1,865.5
2,397.8
1,888.4
2,386.3
1,890.5
2,334.9
1,876.6
2,330.7
1,891.8
2,361.4
13,200.2
13,503.4
13,381.0
13,448.8
13,595.2
13,587.2
13,674.2
Equals: Gross domestic purchases...................................................................................
Plus: Exports of goods and services, command basis 1............................................................
Less: Imports of goods and services, command basis 1...........................................................
Equals: Command-basis gross domestic product12.......................................................
Plus: Income receipts from the rest of the world, command basis 1........................................
Less: Income payments to the rest of the world, command basis 1.........................................
a
q
686.2
465.6
673.5
464.3
665.3
479.5
668.8
455.4
667.1
458.0
692.4
464 1
Equals: Command-basis gross national product13.........................................................
Addenda:
m
13,420.7
13,712.6
13,566.7
13,662.3
13,804.3
13,815.6
Command-basis net domestic product4..................................................................................
Net domestic product..................................................................................................................
Command-basis net national product4....................................................................................
Net national product....................................................................................................................
11
12
13
14
11,428.0
11,522.4
11,647.1
11,745.0
11,693.6
11,778.9
11,901.4
11,989.3
11,586.0
11,706.6
11 770.5
11 893.9
11,644.0
11,739.2
11,856 0
11 954 0
11,780.6
11,833.6
11 988.3
12,043.7
11,762.6
11,836.3
11 989 5
12 065 5
11,837.9
11,909.4
15
16
17
18
99.265
96.725
96.489
107.600
99.340
96.944
96.179
107.941
99.079
95.567
94.695
107.832
99.277
96.633
95.772
107.719
99.578
98.251
97.695
108.206
99.424
97.364
96.602
108.007
99.436
97.451
96.690
108.282
Trade indexes (seasonally adjusted):
Trading gains index 5..............................................................................................................
Terms of trade in de x6............................................................................................................
Terms of trade, goods 7......................................................................................................
Terms of trade, nonpetroleum goods 8.............................................................................
1. Uses gross domestic purchases price index as deflator.
2. This measure is called “real gross domestic income” in the System of National Accounts, 2008.
3. This measure is called “real gross national income” in the System of National Accounts, 2008.
4. Uses net domestic purchases price index as deflator.
5. Ratio (multiplied by 100) of price index for gross domestic product to the price index for gross
domestic purchases.
6. Ratio (multiplied by 100) of the price index for exports of goods and services to the price index for
imports of goods and services.
7. Ratio (multiplied by 100) of the price index for goods exports to the price index for goods imports.
8. Ratio (multiplied by 100) of the price index for goods exports to the price index for nonpetroleum
goods imports.
Table 1.10. Gross Domestic Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Gross domestic income...............................................................................................
Compensation of employees, paid.....................................................................................
Wage and salary accruals..........................................................................................................
Disbursements......
To persons........
To the rest of the world.......................................................................................................
Wage accruals less disbursements
Supplements to wages and salaries.........................................................................................
Taxes on production and imports
Less: Subsidies..........
Net operating surplus...........................................................................................................
Private enterprises......................................................................................................................
Net interest and miscellaneous payments, domestic industries.......................................
Business current transfer payments (net)............................................................................
Proprietors’ income with inventory valuation and capital consumption adjustments......
Rental income of persons with capital consumption adjustment.....................................
Corporate profits with inventory valuation and capital consumption adjustments,
domestic industries............................................................................................................
Taxes on corporate income...............................................................................................
Profits after tax with inventory valuation and capital consumption adjustments
Net dividends..................................................................................................................
Undistributed corporate profits with inventory valuation and capital consumption
adjustments................................................................................................................
Current surplus of government enterprises.............................................................................
Consumption of fixed capital...............................................................................................
Government.................................................................................................................................
1
II
2013
IV
III
I
15,043.8
8,303.2
15,617.5
8,573.3
15,477.1
8,503.2
15,507.9
8,535.3
15,672.6
8,585.2
15,812.5
8,669.5
6,669.3
6,669.3
6,655.5
13.8
0.0
1,633.9
6,888.2
6,888.2
6,874.8
13.5
0.0
1,685.1
6,833.4
6,833.4
6,819.9
13.4
0.0
1,669.8
6,856.8
6,856.8
6,843.3
13.5
0.0
1,678.5
6,896.1
6,896.1
6,882.6
13.6
0.0
1,689.1
6,966.7
6,966.7
6,953.3
13.4
0.0
1,702.8
7,020.9
7,020.9
1,097.9
61.6
3,767.6
1,130.0
60.8
3.963.4
1,128.5
60.8
3.921.4
1,130.9
61.0
3.898.0
1,128.4
60.6
3,999.8
1,132.2
60.9
4,034.2
1,143.5
60.9
13
14
15
16
3,794.1
706.4
132.6
1,157.3
409.7
3.997.4
683.8
128.0
1,202.3
462.6
3.953.4
696.0
130.5
1,184.3
445.3
3.932.1
671.1
127.9
1,194.9
452.8
4,035.3
695.9
123.8
1,205.4
471.0
4,068.7
672 2
129.7
1,224.7
481.5
17
18
19
?n
1,388.1
379.0
1,009.0
554 0
1,520.6
449.3
1,071.3
643 8
1 497.2
453.6
1,043.7
581 9
1 485 3
443 3
1,042.0
622 3
1,539.3
452 4
1,086.8
618.3
1 560 6
448 0
1,112.6
752.7
?1
22
23
24
25
455 0
-26.5
427 5
-34.0
461 8
-32.0
419 7
-34.1
468 5
-35.5
359.9
-34.5
-39.9
1,936.8
2,011.7
1,984.9
2,004.8
2,019.8
2,037.4
2,060.5
1,587.4
349.4
1,647.8
363.9
1,625.9
359.0
1,642.0
362.8
1,654.2
365.6
1,669.0
368.4
1,688.8
371.6
26
31.9
67.2
1.1
77.7
138.5
51.7
2
3
4
6
7
8
9
10
11
1?
Addendum:
Statistical discrepancy............................................................................................
......
8,741.6
0.0
1,720.7
147.2
1,258.1
499.5
National Data
D-18
May 2013
Table 1.12. National Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
2011
2012
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
13,358.9
8,295.2
13,848.8
8,565.8
13,707.2
8,495.7
13,750.5
8,527.7
13,895.9
8,577.6
14,041.7
8,662.1
8,734.2
6,661.3
1,195.3
5,466.0
1,633.9
1,139.0
494.9
6,880.7
1,201.5
5,679.2
1,685.1
1,172.1
512.9
6,825.9
1,199.1
5,626.8
1,669.8
1,159.6
510.2
6,849.2
1,199.8
5,649.4
1,678.5
1,167.7
510.8
6,888.5
1,203.3
5,685.3
1,689.1
1,176.2
512.9
6,959.3
1,203.7
5,755.6
1,702.8
1,185.1
517.8
7,013.5
1,206.6
5,806.9
1,720.7
1,193.1
527.5
1,157.3
1,202.3
1,184.3
1,194.9
1,205.4
1,224.7
1,258.1
54.6
1,102.8
56.2
1,146.1
52.3
1,132.1
52.5
1,142.4
59.4
1,146.0
60.7
1,164.0
72.3
1,185.8
409.7
1,827.0
462.6
1,950.6
445.3
1,900.1
452.8
1,921.9
471.0
1,967.6
481.5
2,013.0
499.5
379.0
1,447.9
697.2
750.7
449.3
1,501.3
779.9
721.4
453.6
1,446.6
727.1
719.4
443.3
1,478.5
747.5
731.0
452.4
1,515.2
760.3
754.8
448.0
1,565.0
884.6
680.5
527.4
1,097.9
61.6
132.6
504.3
1,130.0
60.8
128.0
515.6
1,128.5
60.8
130.5
489.5
1,130.9
61.0
127.9
518.2
1,128.4
60.6
123.8
493.8
1,132.2
60.9
129.7
537.0
1,143.5
60.9
147.2
44.9
94.8
-7.1
45.9
84.4
-2.4
45.3
93.6
-8.4
45.8
86.7
-4.6
46.1
78.3
-0.7
46.6
79.0
4.1
47.2
95.9
4.1
-26.5
-34.0
-32.0
-34.1
-35.5
-34.5
-39.9
W
71
28
29
1,850.7
750.7
1,061.9
-38.1
1,834.1
721.4
1,107.5
-5.2
1,835.8
719.4
1,092.6
-23.8
1,841.8
731.0
1,104.3
-6.5
1,874.3
754.8
1,111.6
-7.9
1,784.5
680.5
1,121.4
17.4
30
31
32
33
34
35
36
3/
38
39
40
41
47
43
44
4S
46
47
48
49
1,157.3
54.6
60.5
-5.9
1,102.8
902.6
-8.9
209.0
409.7
424.4
-14.7
1,827.0
1,791.6
1,854.1
379.0
1,475.1
697.2
777.9
-62.6
35.4
1,202.3
56.2
62.2
-6.0
1,146.1
1,008.1
-2.0
140.0
462.6
477.4
-14.7
1,950.6
2,151.3
2,162.2
449.3
1,712.9
779.9
933.0
-10.9
-200.6
1,184.3
52.3
58.2
-6.0
1,132.1
996.0
-4.1
140.2
445.3
459.9
-14.6
1,900.1
2,100.8
2,124.5
453.6
1,670.9
727.1
943.7
-23.7
-200.7
1,194.9
52.5
58.5
-6.0
1,142.4
999.3
3.2
139.9
452.8
467.5
-14.7
1,921.9
2,124.3
2,108.2
443.3
1,664.9
747.5
917.4
16.0
-202.4
1,205.4
59.4
65.4
-6.0
1,146.0
1,011.3
-5.2
140.0
471.0
485.7
-14.8
1,967.6
2,167.5
2,194.4
452.4
1,742.0
760.3
981.6
-26.8
-200.0
1,224.7
60.7
66.6
-6.0
1,164.0
1,026.0
-1.8
139.8
481.5
496.4
-14.9
2,013.0
2,212.5
2,221.7
448.0
1,773.7
884.6
889.2
-9.2
-199.5
Line
I
Compensation of employees...............................................................................................
Wage and salary accruals..........................................................................................................
Government.............................................................................................................................
O ther.........................................................................................................................................
Supplements to wages and salaries.........................................................................................
Employer contributions for employee pension and insurance funds................................
Employer contributions for government social insurance...................................................
Proprietors’ income with IVA and CCAdj...........................................................................
Nonfarm........................................................................................................................................
Rental income of persons with CCAdj................................................................................
Net dividends...........................................................................................................................
Net interest and miscellaneous payments........................................................................
Taxes on production and imports........................................................................................
Less: Subsidies......................................................................................................................
Business current transfer payments (net).........................................................................
To persons (net)...........................................................................................................................
To government (net)....................................................................................................................
To the rest of the world (net)......................................................................................................
Current surplus of government enterprises......................................................................
Addenda for corporate cash flow:
Consumption of fixed capital..................................................................................................
2013
2012
III
II
IV
I
783.3
1,134.6
Addenda:
Proprietors’ income with IVA and CCAdj..................................................................................
Farm..........................................................................................................................................
Proprietors’ income with IVA..
Capital consumption adjustment
Nonfarm........................................
Proprietors’ income (without IVA and CCAdj).................................................................
Inventory valuation adjustment.........................................................................................
Capital consumption adjustment.......................................................................................
Rental income of persons with CCAdj.......................................................................................
Rental income of persons (without CCAdj)..........................................................................
Capital consumption adjustment
Corporate profits with IVA and CCAdj
Profits before tax (without IVA and CCAdj).....................................................................
Net dividends..............................................................................................................
Undistributed profits (without IVA and CCAdj).......................................................
Capital consumption adjustment...........................................................................................
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
1,258.1
72.3
78.1
-5.8
1,185.8
1,045.4
-3.3
143.7
499.5
514.7
-15.2
783.3
-186.4
May 2013
D-19
S u rv ey of C urrent B usiness
Table 1.14. Gross Value Added of Domestic Corporate Business in Current Dollars and Gross Value Added of Nonfinancial
Domestic Corporate Business in Current and Chained Dollars
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
G ross value added o f corporate business 1......................
Consumption of fixed capital.............................................................
Net value added..................................................................................
Compensation of employees.........................................................
Wage and salary accruals.........................................................
Supplements to wages and salaries.......................................
Taxes on production and imports less subsidies
Net operating surplus........................................
Net interest and miscellaneous payments..
Business current transfer payments (net)...
Corporate profits with IVA and CCAdj.........
Taxes on corporate income......................
Profits after tax with IVA and CCAdj....................................
Net dividends.....................................................................
Undistributed profits with IVA and CCAdj.......................
G ross value added o f financial corporate business 1 ....
G ross value added o f nonfinancial corporate business
Consumption of fixed capital.............................................................
Net value added...............
Compensation of employees
Wage and salary accruals
Supplements to wages and salaries.......................................
Taxes on production ana imports less suDsiaies........................
Net operating surplus.....................................................................
Net interest and miscellaneous paym ents.............................
Business current transfer payments (net)...............................
Corporate profits with IVA and CCAdj
Taxes on corporate income.........
Profits after tax with IVA and CCAdj
Net dividends...........................
Undistributed profits with IVA and CCAdj.......................
Addenda:
Corporate business:
Profits before tax (without IVA and CCAdj)............................
Profits after tax (without IVA and CCAdj)................................
Undistributed profits after tax (without IVA and CCAdj)........
Inventory valuation adjustment................................................
Capital consumption adjustment..............................................
N onfinancial corporate business:
Profits before tax (without IVA and CCAdj)............................
Profits after tax (without IVA and CCAdj)................................
Inventory valuation adjustment................................................
Capital consumption adjustment..............................................
II
2013
III
IV
I
8,493.4
8,865.5
8,784.3
8,793.7
8,894.3
8,989.9
1,061.9
7,431.5
5,057.8
4,173.2
884.6
694.1
1,679.6
183.4
108.1
1,388.1
379.0
1,009.0
554.0
455.0
1,107.5
7,758.1
5,248.9
4,335.4
913.5
705.6
1,803.5
178.5
104.4
1,520.6
449.3
1,071.3
643.8
427.5
1,092.6
7,691.7
5,201.3
4,295.5
905.8
705.1
1,785.3
181.3
106.7
1,497.2
453.6
1,043.7
581.9
461.8
1,104.3
7,689.4
5,222.4
4,312.7
909.7
705.9
1,761.0
175.4
100.3
1,485.3
443.3
1,042.0
622.3
419.7
1,111.6
7,782.7
5,255.3
4,340.1
915.2
704.4
1,823.1
181.5
102.4
1,539.3
452.4
1,086.8
618.3
468.5
1,121.4
7,868.5
5,316.8
4,393.6
923.3
707.1
1,844.5
175.8
108.1
1,560.6
448.0
1,112.6
752.7
359.9
1,126.8
7,366.7
1,183.1
7,682.5
1,178.8
7,605.5
1,122.9
7,670.8
1,200.6
7,693.7
1,230.0
7,759.9
893.7
6,473.0
4,472.7
3,687.5
785.2
645.8
1,354.5
255.9
91.5
1,007.1
246.8
760.3
425.3
334.9
933.5
6,748.9
4,659.6
3,848.7
810.9
657.4
1,431.9
258.9
84.7
1,088.3
307.6
780.7
467.5
313.2
920.8
6,684.7
4,607.1
3,803.0
804.1
656.1
1,421.6
263.2
90.0
1,068.3
304.3
764.0
432.8
331.2
930.8
6,740.1
4,644.8
3,837.2
807.6
657.8
1,437.5
254.2
87.1
1,096.1
304.6
791.6
454.9
336.7
937.1
6,756.5
4,673.7
3,861.3
812.4
656.9
1,425.9
263.4
80.5
1,082.0
307.9
774.1
455.7
318.4
945.5
6,814.4
4,712.9
3,893.3
819.6
658.8
1,442.7
254.7
81.2
1,106.8
313.6
793.1
526.6
266.5
32
33
34
35
36
1,415.2
1,036.2
482.2
-62.6
35.4
1,732.2
1,282.8
639.0
-10.9
-200.6
1,721.6
1,268.0
686.1
-23.7
-200.7
1,671.7
1,228.4
606.1
16.0
-202.4
1,766.1
1,313.7
695.3
-26.8
-200.0
1,769.3
1,321.3
568.6
-9.2
-199.5
-186.4
37
38
39
40
1,007.0
760.2
-62.6
62.7
1,247.5
939.9
-10.9
-148.2
1,240.4
936.1
-23.7
-148.4
1,229.8
925.3
16.0
-149.7
1,256.5
948.6
-26.8
-147.7
1,263.2
949.5
-9.2
-147.1
-135.1
41
42
43
6,595.6
6,779.4
6,768.5
6,803.6
6,738.6
6,807.0
819.7
5,776.0
843.6
5,935.9
834.5
5,934.0
840.7
5,963.0
846.4
5,892.1
852.7
5,954.3
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
1,134.6
5,367.8
4,432.7
935.1
714.8
122.7
956.3
4,779.3
3,949.2
830.1
666.4
92.7
Value-added, in billions of chained (2005) dollars
Gross value added of nonfinancial corporate business 2..
Consumption of fixed capital3................................................
Net value added 4.....................................................................
859.7
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 aoods and structures is used.
3. C h a in e d -d o lla r consum ption of fixed capital of nonfinancial c o rp o rate business is c alcu lated as th e product of the c h ain -typ e quantity index an d th e 2 0 0 5 cu rren t-d o llar valu e of th e correspondin g 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
National Data
D-20
May 2013
Table 1.15. Price, Costs, and Profit Per Unit of Real Gross Value Added of Nonfinancial Domestic Corporate Business
[Dollars]
Seasonally adjusted
Line
2012
2011
2012
2013
II
Price per unit of real gross value added of nonfinancial corporate business 1.......................
Compensation of employees (unit labor cost)
Unit nonlabor cost....................................
1.117
0.678
0.286
1.133
0.687
0.285
1.124
0.681
0.285
1.127
0.683
0.283
1.142
0.694
0.287
1.140
0.692
0.285
Consumption of fixed capital....................
Taxes on production and imports less subsidies plus business current transfer payments (net).
Net interest and miscellaneous payments................................................................................ .....
0.135
0.138
0.109
0.038
0.136
0.039
0.137
0.109
0.037
0.139
0.109
0.039
0.139
0.109
0.037
0.153
0.161
0.158
0.161
0.161
0.163
0.037
0.115
0.045
0.115
0.045
0.113
0.045
0.116
0.046
0.115
0.046
0.117
0.112
Corporate profits with IVA and CCAdj (unit profits from current production).........................
Taxes on corporate incom e....................................................................................................................
Profits after tax with IVA and CCAdj......................................................................................................
0.110
0.039
1. The implicit price deflator for gross value added of nonfinancial corporate business divided by 100. Estimates for nonfinancial corporate business for 2000 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification System (NAICS).
N o te . 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
Table 1.17.1. Percent Change From Preceding Period in Real Gross Domestic Product,
Real Gross Domestic Income, and Other Major NIPA Aggregates
[Percent]
Seasonally adjusted at annual rates
Line
2012
2011
2012
II
I
2013
III
IV
I
Production in the United States:
Gross domestic product...........................................................................................................................
Gross domestic income
Net domestic pro d u ct1
Net domestic income 1
1
2
3
4
1.8
1.8
1.8
1.8
2.2
2.0
2.2
2.0
2.0
3.8
1.9
4.1
1.3
-0.7
1.1
-1.1
3.1
1.6
3.3
1.5
0.4
2.6
0.1
2.7
5
6
7
2.0
2.0
2.1
2.1
1.9
2.1
0.6
2.4
0.4
2.1
0.1
2.0
2.9
1.4
3.0
0.9
3.2
0.7
8
9
1.7
1.8
2.1
2.0
1.8
2.2
1.0
1.4
2.6
1.9
0.0
1.5
2.9
1.9
10
11
12
13
1.4
1.4
1.7
1.7
2.3
2.3
2.2
2.2
1.6
1.5
0.3
0.0
2.0
2.0
2.8
2.9
4.4
4.8
4.2
4.5
-0.2
-0.6
0.3
0.0
2.6
2.6
14
1.3
1.5
3.7
2.2
0.7
6.2
-5.3
2.5
2.5
Production by labor and capital supplied by U.S. residents:
Gross national product.............................................................................................................................
Gross national income
Net national pro d u ct1.
Final expenditures by U.S. residents:
Gross domestic purchases.....................................................................................................................
Final sales to domestic purchasers 2..
Purchasing power of income:3..............
Command-basis gross domestic product..............................................................................................
Command-basis net domestic p ro d u ct1...............................................................................................
Command-basis gross national product...............................................................................................
Command-basis net national p ro d u ct1 ................................................................................................
After-tax income received by the personal sector:
Disposable personal income...................................................................................................................
1. In this table, the net measures are the corresponding gross measures less the depreciation of fixed assets as measured by the consumption of fixed capital.
2. Equals gross domestic purchases less change in private inventories.
3. The command-basis estimates (lines 10-13) measure the purchasing power of the income generated by the sale of goods and services produced; they reflect gains or losses in real income resulting from changes
in the terms of trade for exports and imports. For more detail on the command-basis measures, see NIPA tables 1.8.3 and 1.8.6.
May 2013
D-21
S u rv ey o f C u rrent B usiness
Table 1.17.5. Gross Domestic Product, Gross Domestic Income, and Other Major NIPA Aggregates
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
II
2013
III
IV
I
Production in the United States:
Gross domestic product..........................................................................................................................
Gross domestic income
Net domestic p ro d u ct1............................................................................................................................
Net domestic income 1.............................................................................................................................
1
2
3
4
15,075.7
15,043.8
13,138.9
13,107.0
15,684.8
15,617.5
13,673.1
13,605.8
15,478.3
15,477.1
13,493.4
13,492.3
15,585.6
15,507.9
13,580.8
13,503.1
15,811.0
15,672.6
13,791.3
13,652.8
15,864.1
15,812.5
13,826.7
13,775.0
16,010.2
5
6
7
8
15,327.5
15,295.7
13,390.8
13,358.9
15,927.8
15,860.5
13,916.1
13,848.8
15,693.2
15,692.1
13,708.3
13,707.2
15,832.9
15,755.3
13,828.1
13,750.5
16,054.2
15,915.7
14,034.4
13,895.9
16,130.8
16,079.1
14,093.4
14,041.7
9
10
15,643.7
15,607.1
16,244.7
16,186.6
16,094.0
16,021.5
16,162.5
16,107.8
16,327.8
16,245.6
16,394.4
16,371.6
16,560.1
16,495.8
11
11,549.3
11,931.4
11,776.4
11,861.8
11,929.7
12,157.7
12,021.4
13,949.7
Production by labor and capital supplied by U.S. residents:
Gross national product.............................................................................................................................
Gross national income.............................................................................................................................
Net national p ro d u ct1..............................................................................................................................
National income 2 ...
Final expenditures by U.S. residents:
Gross domestic purchases.....................................................................................................................
Final sales to domestic purchasers 3.....................................................................................................
After-tax income received by the personal sector:
Disposable personal income...................................................................................................................
1. In this table, net measures are the corresponding gross measures less the depreciation of fixed assets as measured by the consumption of fixed capital.
2. Equals gross national income less the depreciation of fixed assets as measured by the consumption of fixed capital.
3. Equals gross domestic purchases less change in private inventories.
Table 1.17.6. Real Gross Domestic Product, Real Gross Domestic Income, and Other Major NIPA Aggregates, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
II
2013
III
IV
I
Production in the United States:
Gross domestic product...........................................................................................................................
Gross domestic incom e..........................................................................................................................
Net domestic p roduct1............................................................................................................................
1
?
3
4
13,299.1
13,270.9
11,522.4
11,494.4
13,593.2
13.534.9
11.778.9
11,721.0
13,506.4
13.505.5
11.706.6
11,705.6
13,548.5
13,481.0
11,739.2
11,672.0
13,652.5
13,533.0
11,833.6
11.714.8
13,665.4
13,621.0
11,836.3
11,792.0
5
7
fi
13.522.0
13.493.8
11.745.0
13,803.8
13,745.5
11,989.3
13.693.8
13.692.9
11.893.9
13,763.6
13.696.0
11.954.0
13.862.9
13,743.3
12,043.7
13,895.0
13.850.5
12.065.5
8
9
13.698.8
13,664.2
13,985.8
13,931.2
13,914.4
13,847.5
13,948.5
13,897.1
14,039.3
13,963.6
14,040.8
14,016.6
14,142.2
14,083.3
10
11
1?
13
13,200.2
11,428.0
13,420.7
11,647.1
13,503.4
11,693.6
13,712.6
11,901.4
13,381.0
11,586.0
13,566.7
11,770.5
13,448.8
11,644.0
13,662.3
11,856.0
13,595.2
11,780.6
13.804.3
11.988.3
13,587.2
11,762.6
13,815.6
11,989.5
13,674.2
11,837.9
14
10,149.7
10,304.4
10,213.9
10,270.6
10,288.8
10,444.0
10,303.6
13,750.1
11,909.4
Production by labor and capital supplied by U.S. residents:
Gross national product.............................................................................................................................
Gross national incom e.............................................................................................................................
Final expenditures by U.S. residents:
Gross domestic purchases.....................................................................................................................
Final sales to domestic purchasers 2
Purchasing power of income:3.........
Command-basis gross domestic product..............................................................................................
Command-basis net domestic p roduct1...............................................................................................
After-tax income received by the personal sector:
Disposable personal income...................................................................................................................
1. In this table, net measures are the corresponding gross measures less the depreciation of fixed assets as measured by the consumption of fixed capital.
2. Equals gross domestic purchases less change in private inventories.
3. The command-basis estimates (lines 10-13) measure the purchasing power of the income generated by the sale of goods and services produced; they reflect gains or losses in real income resulting from changes
in the terms of trade for exports and imports. For more detail on the command-basis estimates, see NIPA tables 1.8.3 and 1.8.6.
National Data
D-22
May 2013
2. Personal Incom e and O utlays
Table 2.1. Personal Income and Its Disposition
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Personal income.............................................................................................................................
Compensation of employees, received
Wage and salary disbursements
Private industries..................
Government..........................
Supplements to wages and salaries
Employer contributions for employee pension and insurance funds....................................
Employer contributions for government social insurance.......................................................
Proprietors’ income with inventory valuation and capital consumption adjustments...................
Farm...................................................................................................................................................
Nonfarm............................................................................................................................................
Rental income of persons with capital consumption adjustment....................................................
Personal income receipts on assets...................................................................................................
Personal interest income.................................................................................................................
Personal dividend income...............................................................................................................
Personal current transfer receipts
Government social benefits to persons.........................................................................................
Social se cu rity' ........
Medicare 2 ................
Medicaid.....................
Unemployment insurance..........................................................................................................
Veterans' benefits.........................................................................................................................
O ther..............................................................................................................................................
Other current transfer receipts, from business (net)....................................................................
Less: Contributions for government social insurance, dom estic....................................................
Less: Personal current taxes.......................................................................................................
Equals: Disposable personal income.........................................................................................
Less: Personal outlays.................................................................................................................
Personal consumption expenditures
Personal interest payments 3.......
Personal current transfer payments
To governm ent..........................
To the rest of the world (net)..........................................................................................................
Equals: Personal saving...............................................................................................................
Personal saving as a percentage of disposable personal income......................................
Addenda:
Personal income excluding current transfer receipts, billions of chained (2005) dollars 4
Disposable personal income:
Total, billions of chained (2005) dolla rs4 ......................................................................................
Per capita:
Current d ollars.............................................................................................................................
Chained (2005) dollars................................................................................................................
Population (midperiod, thousands)....................................................................................................
Percent change from preceding period:
Disposable personal income, current dollars...................................................................
Disposable personal income, chained (2005) dollars.......................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
II
2013
III
IV
I
12,947.3
13,407.2
13,227.1
13,327.0
13,406.2
13,668.5
13,559.4
8,295.2
6,661.3
5,466.0
1,195.3
1,633.9
1,139.0
494.9
1,157.3
54.6
1,102.8
409.7
1,685.1
1,008.8
676.3
2,319.2
2,274.3
713.3
545.1
403.9
108.0
63.3
440.8
44.9
919.3
8,565.8
6,880.7
5,679.2
1,201.5
1,685.1
1,172.1
512.9
1,202.3
56.2
1,146.1
462.6
1,749.7
992.6
757.0
2,375.1
2,329.2
762.2
562.0
415.3
80.9
72.3
436.5
45.9
948.3
8,495.7
6,825.9
5,626.8
1,199.1
1,669.8
1,159.6
510.2
1,184.3
52.3
1,132.1
445.3
1,696.4
991.8
704.6
2,348.0
2,302.7
753.2
555.9
397.6
94.2
68.8
433.0
45.3
942.6
8,527.7
6,849.2
5,649.4
1,199.8
1,678.5
1,167.7
510.8
1,194.9
52.5
1,142.4
452.8
1,730.8
1,006.1
724.6
2,365.2
2,319.5
759.4
556.9
413.9
83.8
71.5
433.9
45.8
944.4
8,577.6
6,888.5
5,685.3
1,203.3
1,689.1
1,176.2
512.9
1,205.4
59.4
1,146.0
471.0
1,712.8
975.3
737.5
2,388.0
2,341.8
765.1
566.2
424.2
74.9
74.0
437.4
46.1
948.7
8,662.1
6,959.3
5,755.6
1,203.7
1,702.8
1,185.1
517.8
1,224.7
60.7
1,164.0
481.5
1,858.7
997.2
861.5
2,399.2
2,352.6
771.0
569.1
425.4
70.7
74.7
441.7
46.6
957.6
8,734.2
7,013.5
5,806.9
1,206.6
1,720.7
1,193.1
527.5
1,258.1
72.3
1,185.8
499.5
1,733.3
993.5
739.8
2,431.3
2,384.1
790.0
580.4
426.5
64.3
78.5
444.5
47.2
1,097.1
1,398.0
11,549.3
11,059.9
1,475.8
11,931.4
11,460.3
1,450.8
11,776.4
11,348.7
1,465.2
11,861.8
11,406.1
1,476.5
11,929.7
11,494.7
1,510.8
12,157.7
11,591.7
1,538.0
12,021.4
11,708.0
10,729.0
168.0
162.8
88.9
73.9
11,119.6
172.7
168.0
91.5
76.4
11,007.2
175.4
166.1
90.5
75.5
11,067.2
171.2
167.7
91.3
76.4
11,154.4
171.6
168.6
92.0
76.6
11,249.6
172.6
169.4
92.3
77.1
11,363.9
175.1
169.0
92.0
77.0
489.4
4.2
471.1
3.9
427.7
3.6
455.7
3.8
435.1
3.6
566.0
4.7
313.3
2.6
36
9,340.0
9,527.8
9,435.7
9,491.3
9,502.6
9,680.8
9,537.9
37
10,149.7
10,304.4
10,213.9
10,270.6
10,288.8
10,444.0
10,303.6
38
39
40
37,013
32,527
312,036
37,964
32,788
314,278
37,573
32,588
313,425
37,781
32,713
313,960
37,925
32,708
314,564
38,576
33,138
315,162
38,082
32,640
315,671
41
42
3.8
1.3
3.3
1.5
6.3
3.7
2.9
2.2
2.3
0.7
7.9
6.2
-4.4
-5.3
1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.
Table 2.2B. Wage and Salary Disbursements by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Wage and salary disbursements.........................................................................................
Private industries...........................................................................................................................
Goods-producing industries................................................................................................................
Manufacturing...............
Services-producing industries.............................................................................................................
Trade, transportation, and utilities..................................................................................................
Other services-producing industries ' ..........................................................................................
Government....................................................................................................................................
1
2
3
4
5
6
7
8
II
2013
III
IV
I
6,661.3
5,466.0
6,880.7
5,679.2
6,825.9
5,626.8
6,849.2
5,649.4
6,888.5
5,685.3
6,959.3
5,755.6
7,013.5
5,806.9
1,108.6
706.6
4,357.4
1,050.1
3,307.3
1,158.3
740.0
4,521.0
1,101.8
3,419.2
1,144.0
723.1
4,482.7
1,083.3
3,399.4
1,161.8
744.3
4,487.6
1,098.4
3,389.2
1,162.1
746.2
4,523.1
1,105.2
3,417.9
1,165.1
746.6
4,590.5
1,120.4
3,470.2
1,181.4
756.3
4,625.5
1,135.6
3,489.9
1,195.3
1,201.5
1,199.1
1,199.8
1,203.3
1,203.7
1,206.6
1. Other services-producing industries consists of information; finance and insurance; real estate and rental and leasing; professional, scientific, and technical services; management of companies and enterprises,
administrative and support and waste management and remediation services; educational services; health care and social assistance; arts, entertainment, and recreation; accommodation and food services; and other
services.
N o te . Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).
May 2013
D-23
S u rv ey o f C u rrent B usiness
Table 2.3.1. Percent Change From Preceding Period in Real Personal Consumption Expenditures by Major Type of Product
[Percent]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Personal consumption expenditures (PCE)................................................................
Goods.......................................................................................................................................
Durable goods.......................
Motor vehicles and parts.,
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles
Other durable goods.......
Nondurable goods................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear......
Gasoline and other energy goods
Other nondurable goods..
Services...................................................................................................................................
Household consumption expenditures (for services)................................................................
Housing and utilities..................................................................................................................
Healthcare...........
Transportation services
Recreation services
Food services and accommodations.....................................................................................
Financial services and insurance............................................................................................
Other services.....
Final consumption expenditures of nonprofit institutions serving households (N PISH s)1
Gross output of nonprofit institutions 2...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3....................
II
2013
III
IV
I
2.5
3.8
1.9
3.1
2.4
4.7
1.5
0.3
1.6
3.6
1.8
4.3
3.2
3.3
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
7.2
5.5
5.8
11.7
4.1
2.3
2.5
3.5
-3.5
4.3
7.8
7.5
5.8
10.9
5.5
0.9
0.1
1.1
-1.1
2.6
11.5
13.0
8.6
13.1
9.8
1.6
0.0
5.9
-2.5
3.5
-0.2
-9.8
-0.7
7.2
8.6
0.6
-0.5
-4.9
8.5
0.3
8.9
10.1
5.7
11.5
6.2
1.2
0.2
5.3
-2.9
2.4
13.6
22.5
4.3
11.6
12.6
0.1
-0.1
-1.5
-6.0
4.0
8.1
10.5
3.4
8.9
8.2
1.0
0.9
1.3
-3.4
3.1
1.9
1.2
1.3
2.1
0.6
0.6
3.1
1.8
0.5
3.4
2.2
2.5
3.7
-0.3
1.7
3.8
2.7
2.3
1.1
0.0
1.9
1.5
1.2
3.4
0.5
0.8
3.6
2.6
2.2
1.4
-2.2
3.7
1.6
-0.6
4.8
3.8
1.1
-1.2
4.1
5.9
1.5
5.5
-1.3
2.9
2.9
1.1
-0.1
-0.1
16.3
0.6
-4.1
0.8
1.3
2.7
1.5
0.7
1.3
-4.8
0.4
-4.1
4.6
7.7
0.6
-4.2
2.3
0.6
-1.0
8.0
2.6
1.5
-0.9
-0.2
0.0
3.6
4.3
2.1
3.4
4.2
2.5
5.9
3.5
-6.1
-0.4
1.5
25
26
27
28
2.9
-2.8
2.8
3.3
2.2
-1.5
1.9
2.4
3.5
-8.7
2.3
3.5
0.3
23.7
1.5
0.1
1.7
1.4
2.0
2.3
3.4
-16.3
2.1
3.9
3.0
9.9
3.1
2.8
1
2
Addenda:
PCE excluding food and energy 4...............................................................................................
Energy goods and services 5.......................................................................................................
Market-based PCE 6.....................................................................................................................
Market-based PCE excluding food and energy6......................................................................
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas services.
6. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
Table 2.3.2. Contributions to Percent Change in Real Personal
Consumption Expenditures by Major Type of Product
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Percent change at annual rate:
Personal consumption expenditures (PCE)................................................................
Percentage points at annual rates:
Goods.......................................................................................................................................
Durable goods................................................................................................................................
Motor vehicles and parts.
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles
Other durable goods.......
Nondurable goods...............
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear....
Gasoline and other energy goods
Other nondurable goods.
Services.................................
Household consumption expenditures (for services)................................................................
Housing and utilities........
Health care.......................
Transportation services............................................................................................................
Recreation services..................................................................................................................
Food services and accommodations
Financial services and insurance
Other services...............................
Final consumption expenditures of nonprofit institutions serving households (N PISH s)1
Gross output of nonprofit institutions 2...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3....................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
2.5
1.9
II
2.4
2013
IV
III
1.5
1.6
I
1.8
3.2
1.26
1.03
1.57
0.11
1.20
1.45
1.12
0.74
0.18
0.14
0.36
0.07
0.51
0.18
0.11
-0.13
0.35
0.82
0.26
0.14
0.33
0.09
0.22
0.01
0.04
-0.04
0.22
1.20
0.45
0.20
0.39
0.16
0.38
0.00
0.19
-0.10
0.29
-0.02
-0.37
-0.02
0.22
0.14
0.14
-0.04
-0.17
0.32
0.02
0.93
0.35
0.13
0.35
0.10
0.27
0.02
0.17
-0.12
0.20
1.41
0.75
0.10
0.35
0.21
0.03
-0.01
-0.05
-0.25
0.33
0.88
0.39
0.08
0.27
0.14
0.23
0.07
0.04
-0.14
0.26
1.27
0.82
0.87
1.39
0.37
0.39
2.07
1.17
0.10
0.56
0.06
0.09
0.23
-0.02
0.15
0.10
0.29
0.19
0.72
0.00
0.31
0.04
0.04
0.21
0.04
0.07
0.10
0.28
0.18
0.90
-0.39
0.59
0.04
-0.02
0.30
0.28
0.10
-0.03
0.44
0.47
0.98
0.95
-0.21
0.08
0.10
0.07
-0.01
-0.01
0.41
0.07
-0.34
0.49
0.23
0.43
0.04
0.03
0.08
-0.36
0.04
-0.11
0.50
0.61
0.41
-0.77
0.37
0.02
-0.04
0.50
0.19
0.13
-0.02
-0.02
0.00
2.24
0.75
0.34
0.09
0.15
0.16
0.44
0.31
-0.17
-0.05
0.12
2.52
-0.17
2.45
2.44
1.94
-0.09
1.68
1.77
2.97
-0.53
2.05
2.58
0.30
1.24
1.29
0.08
1.48
0.08
1.80
1.70
2.89
-1.05
1.85
2.91
2.57
0.56
2.75
2.13
Addenda:
PCE excluding food and energy4...............................................................................................
Energy goods and services 5.......................................................................................................
Market-based PCE 6.....................................................................................................................
Market-based PCE excluding food and energy6......................................................................
25
26
27
28
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas services.
6. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
National Data
D-24
May 2013
Table 2.3.3. Real Personal Consumption Expenditures by Major Type of Product, Quantity Indexes
[Index numbers, 2005=100]
Seasonally adjusted
Line
2011
2012
2012
I
Personal consumption expenditures (PCE)................................................................
Goods........................................................................................................................................
Durable goods..........
Motor vehicles and parts..........................................................................................................
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles............................................................................................
Other durable goods.................................................................................................................
Nondurable goods....
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear...............................................................................................................
Gasoline and other energy goods
Other nondurable goods.............
Services.............................................
Household consumption expenditures (for services)................................................................
Housing and utilities..................................................................................................................
Health care...........
Transportation services.............................................................................................................
Recreation services..................................................................................................................
Food services and accommodations......................................................................................
Financial services and insurance............................................................................................
Other services.....
Final consumption expenditures of nonprofit institutions serving households (N PISH s)1
Gross output of nonprofit institutions 2...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3....................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
II
2013
III
IV
I
107.103
108.263
109.085
111.578
108.443
110.722
108.849
110.812
109.276
111.796
109.773
112.981
110.638
113.895
112.395
85.117
104.304
162.589
112.309
106.236
106.326
111.445
89.387
112.498
121.148
91.461
110.381
180.246
118.474
107.223
106.415
112.692
88.411
115.429
118.937
90.938
109.473
174.233
114.886
106.938
106.497
113.140
87.727
114.739
118.866
88.628
109.288
177.288
117.291
107.096
106.355
111.721
89.529
114.816
121.423
90.778
110.801
182.197
119.061
107.413
106.418
113.169
88.874
115.505
125.364
95.501
111.962
187.268
122.658
107.445
106.390
112.739
87.513
116.657
127.838
97.910
112.910
191.290
125.107
107.711
106.628
113.098
86.753
117.551
106.543
107.854
107.318
107.882
108.031
108.186
109.027
105.426
106.010
113.724
87.031
105.379
105.871
97.617
103.735
137.017
115.612
109.037
106.615
106.011
115.882
88.322
106.599
109.455
98.131
104.552
142.015
118.570
111.422
106.165
105.064
115.617
87.648
106.001
108.537
98.593
104.423
138.843
117.775
111.258
106.573
106.484
115.239
88.279
106.753
108.821
98.568
104.397
144.189
117.960
110.096
106.776
106.823
116.006
88.612
106.950
109.174
97.365
104.503
142.679
119.303
112.162
106.946
105.672
116.666
88.748
106.690
111.289
97.996
104.885
142.348
119.243
112.172
107.884
106.785
117.266
89.493
107.785
111.982
99.421
105.783
140.108
119.110
112.580
108.181
93.071
107.547
108.888
110.606
91.713
109.598
111.468
110.072
88.930
108.881
110.862
110.166
93.796
109.276
110.891
110.634
94.111
109.831
111.519
111.553
90.015
110.405
112.600
112.367
92.167
111.258
113.391
Addenda:
PCE excluding food and energy 4...............................................................................................
Energy goods and services 5.......................................................................................................
Market-based PCE 6......................................................................................................................
Market-based PCE excluding food and energy 6......................................................................
25
26
27
28
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas services.
6. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
Table 2.3.4. Price Indexes for Personal Consumption Expenditures by Major Type of Product
[Index numbers, 2005=100]
Seasonally adjusted
Line
2011
2012
2012
I
Personal consumption expenditures (PCE)................................................................
Goods.............................................................
Durable goods................................................
Motor vehicles and parts..........................
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles............
Other durable goods.................................
Nondurable goods..........................................................................................................................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear...............................................................................................................
Gasoline and other energy goods...........................................................................................
Other nondurable goods..........................................................................................................
Services....................................................................................................................................
Household consumption expenditures (for services)................................................................
Housing and utilities..................................................................................................................
Health care.....................................
Transportation services................
Recreation services......................
Food services and accommodations
Financial services and insurance.
Other services............................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (N PISH s)1
Gross output of nonprofit institutions 2...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3 ....................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
II
2013
III
IV
I
113.790
108.822
115.790
110.203
115.300
110.256
115.496
109.743
115.952
110.261
116.412
110.550
116.675
110.297
90.799
107.528
92.359
66.873
114.252
119.430
118.230
99.778
157.728
114.571
89.576
108.994
92.179
62.771
114.980
122.427
120.887
103.382
163.843
116.471
90.157
108.293
92.497
64.219
115.851
122.136
120.497
102.208
165.192
116.108
89.888
109.425
92.443
63.258
114.447
121.472
120.720
103.457
157.431
116.244
89.358
109.125
92.114
62.263
114.743
122.659
120.901
103.799
164.016
116.818
88.900
109.135
91.663
61.343
114.881
123.439
121.430
104.063
168.732
116.713
88.660
109.378
91.648
60.593
114.947
123.181
121.836
104.408
165.447
116.622
116.435
118.779
117.989
118.576
118.997
119.553
120.105
117.164
115.037
117.675
121.355
114.064
118.699
118.374
118.613
100.644
115.204
120.770
119.646
117.175
119.866
123.834
117.248
122.112
120.969
121.291
100.239
117.254
123.815
118.810
116.391
118.975
123.445
116.300
120.894
120.166
120.609
100.339
116.389
122.556
119.427
116.801
119.566
124.011
116.871
122.045
120.690
121.435
100.337
117.020
123.443
119.901
117.328
120.255
123.781
117.681
122.517
121.361
121.304
99.745
117.503
124.367
120.444
118.179
120.668
124.098
118.139
122.993
121.659
121.815
100.533
118.106
124.893
121.025
118.920
121.286
124.728
118.695
123.671
120.905
123.045
100.521
118.838
125.922
111.802
140.957
113.641
111.311
113.711
143.543
115.741
113.321
113.122
144.815
115.231
112.693
113.603
139.624
115.407
113.196
113.912
143.155
115.944
113.576
114.208
146.577
116.381
113.819
114.546
145.176
116.722
114.259
Addenda:
PCE excluding food and energy 4...............................................................................................
Energy goods and services 5........................
Market-based PCE 6.....................................................................................................................
Market-based PCE excluding food and energy6......................................................................
25
26
27
28
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas.
6. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
May 2 0 1 3
S u rv ey of C urrent B usiness
D -2 5
Table 2.3.5. Personal Consumption Expenditures by Major Type of Product
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2012
2011
2012
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
10,729.0
3,624.8
11,119.6
3,783.2
11,007.2
3,755.9
11,067.2
3,741.5
11,154.4
3,792.5
11,249.6
3,842.8
11,363.9
3,865.0
1,146.4
373.6
251.7
340.1
181.0
2,478.4
810.2
349.2
428.3
890.7
1,218.9
407.0
265.8
354.0
192.1
2,564.2
829.1
365.9
440.3
929.1
1,204.6
402.1
264.6
350.2
187.7
2,551.3
827.0
363.1
440.5
920.6
1,200.3
396.0
264.0
351.0
189.4
2,541.2
827.5
363.0
428.5
922.3
1,218.9
404.5
266.7
355.1
192.7
2,573.6
829.2
368.9
443.1
932.4
1,252.0
425.5
268.1
359.5
198.8
2,590.8
832.6
368.4
448.9
940.9
1,273.2
437.2
270.4
362.8
202.9
2,591.8
837.3
370.8
436.3
947.4
7,104.2
7,336.5
7,251.3
7,325.7
7,361.9
7,406.9
7,498.9
6,812.3
1,929.9
1,751.6
302.0
394.5
670.9
807.1
956.2
291.9
1,164.5
872.5
7,035.1
1,965.9
1,818.1
312.8
410.2
713.6
829.1
985.5
301.4
1,215.5
914.1
6,956.4
1,935.2
1,800.4
309.4
404.6
700.5
827.5
978.7
295.0
1,198.4
903.5
7,019.4
1,968.3
1,803.5
313.0
409.5
709.0
830.9
985.2
306.3
1,206.8
900.5
7,060.6
1,983.5
1,825.9
313.6
413.1
714.1
825.3
985.1
301.3
1,225.6
924.3
7,103.9
1,976.4
1,842.6
314.9
413.7
730.7
832.7
992.9
303.0
1,231.3
928.3
7,200.7
2,009.7
1,861.6
319.2
419.9
739.3
839.5
1,011.5
298.2
1,237.5
939.3
25
26
27
28
9,271.1
647.7
9,454.8
7,997.2
9,640.6
649.9
9,813.1
8,334.4
9,544.2
636.0
9,705.7
8,243.0
9,593.0
646.8
9,755.8
8,281.9
9,659.9
665.3
9,851.0
8,356.8
9,765.4
651.6
9,939.8
8,455.9
9,865.9
660.8
10,045.9
8,548.2
I
Personal consumption expenditures (PCE)................................................................
Goods.............................
Durable goods.............
Motor vehicles and parts
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles............................................................................................
Other durable goods.............................................................
Nondurable goods.......................................................................
Food and beverages purchased for off-premises consumption
Clothing and footwear...........................................................
Gasoline and other energy goods.......................................
Other nondurable goods......................................................
Services...................................................................................................................................
Household consumption expenditures (for services)................................................................
Housing and utilities..................................................................................................................
Health care..............
Transportation services............................................................................................................
Recreation services
Food services and accommodations.....................................................................................
Financial services and insurance............................................................................................
Other services............................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (N PISH s)1
Gross output of nonprofit institutions 2...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions3 ....................
II
2013
III
IV
I
Addenda:
PCE excluding food and energy4...............................................................................................
Energy goods and services 5.......................................................................................................
Market-based PCE 6.....................................................................................................................
Market-based PCE excluding food and energy 6......................................................................
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas.
6. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
Table 2.3.6. Real Personal Consumption Expenditures by Major Type of Product, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
III
IV
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
9,428.8
3,331.0
9,603.3
3,432.9
9,546.8
3,406.6
9,582.5
3,409.4
9,620.1
3,439.7
9,663.9
3,476.1
9,740.0
3,504.2
1,262.6
347.4
272.5
508.6
158.4
2,075.2
685.3
350.0
271.5
777.4
1,360.9
373.3
288.4
563.8
167.1
2,094.5
685.8
353.9
268.6
797.7
1,336.1
371.2
286.0
545.0
162.1
2,088.9
686.4
355.3
266.5
792.9
1,335.3
361.8
285.5
554.6
165.5
2,092.0
685.4
350.8
272.0
793.5
1,364.0
370.5
289.5
569.9
168.0
2,098.2
685.9
355.4
270.0
798.2
1,408.3
389.8
292.5
585.8
173.0
2,098.8
685.7
354.0
265.9
806.2
1,436.1
399.7
295.0
598.4
176.5
2,104.0
687.2
355.2
263.5
812.4
6,101.5
6,176.6
6,145.9
6,178.2
6,186.7
6,195.6
6,243.7
5,814.3
1,677.7
1,488.5
248.9
345.9
565.2
681.8
806.1
290.1
1,010.8
722.5
-44.7
5,879.9
1,677.7
1,516.8
252.6
349.9
584.4
685.4
812.5
300.7
1,036.7
738.3
-73.0
5,855.1
1,662.7
1,513.3
250.6
347.9
579.5
688.6
811.5
293.9
1,029.7
737.2
-65.2
5,877.6
1,685.2
1,508.4
252.4
350.4
581.0
688.4
811.3
305.3
1,031.3
729.5
-65.5
5,888.8
1,690.6
1,518.4
253.4
351.0
582.9
680.0
812.1
302.1
1,043.1
743.2
-75.6
5,898.2
1,672.3
1,527.0
253.8
350.2
594.2
684.4
815.1
301.4
1,042.5
743.2
-85.3
5,949.9
1,689.9
1,534.9
255.9
353.8
597.9
694.4
822.0
296.6
1,041.4
745.9
-92.2
26
27
28
29
8,292.4
459.5
8,319.9
7,184.5
8,478.3
452.8
8,478.6
7,354.8
8,437.3
439.1
8,423.0
7,314.8
8,444.6
463.1
8,453.6
7,316.7
8,480.4
464.7
8,496.6
7,358.2
8,550.8
444.4
8,541.0
7,429.5
8,613.2
455.1
8,606.9
7,481.7
I
Personal consumption expenditures (PCE)................................................................
Goods.......................................................................................................................................
Durable goods................................................................................................................................
Motor vehicles and parts.............................
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles...............
Other durable goods....................................
Nondurable goods............................................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear..............................................................................................................
Gasoline and other energy goods...........................................................................................
Other nondurable goods.............................
Services...........................................................
Household consumption expenditures (for services)................................................................
Housing and utilities..................................................................................................................
Health care.................................................................................................................................
Transportation services...................
Recreation services........................
Food services and accommodations.....................................................................................
Financial services and insurance...
Other services............................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (N PISH s)1
Gross output of nonprofit institutions 2...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3 ....................
Residual..............................................................................................................................................
2013
2012
II
I
Addenda:
PCE excluding food and energy4...............................................................................................
Energy goods and services 5.......................................................................................................
Market-based P C E 6.....................................................................................................................
Market-based PCE excluding food and energy 6......................................................................
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas.
6. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
N o te . Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type
quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed
lines.
National Data
D -2 6
May 2 0 1 3
Table 2.3.7. Percent Change from Preceding Period in Prices for Personal Consumption Expenditures by Major Type of Product
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Personal consumption expenditures (PCE)................................................................
Goods........................................................................................................................................
Durable goods................................................................................................................................
Motor vehicles and parts..........................................................................................................
Furnishings and durable household equipment....................................................................
Recreational goods and vehicles............................................................................................
Other durable goods.................
Nondurable goods..........................
Food and beverages purchased for off-premises consumption..........................................
Clothing and footwear...............
Gasoline and other energy goods...........................................................................................
Other nondurable goods...........
Services...........................................
Household consumption expenditures (for services)................................................................
Housing and utilities..................................................................................................................
Health care..................................
Transportation services.............
Recreation services..................
Food services and accommodations
Financial services and insurance
Other services............................................................................................................................
Final consumption expenditures of nonprofit institutions serving households (N PISH s)1
Gross output of nonprofit institutions 2...................................................................................
Less: Receipts from sales of goods and services by nonprofit institutions 3 ....................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
II
2013
IV
III
I
2.4
3.8
1.8
1.3
2.5
2.5
0.7
-1.8
1.6
1.9
1.6
1.1
0.9
-0.9
-0.9
3.4
-1.5
-6.8
3.0
6.0
4.0
1.7
25.9
1.6
-1.3
1.4
-0.2
-6.1
0.6
2.5
2.2
3.6
3.9
1.7
-1.0
-0.3
2.0
-5.3
1.6
4.2
1.3
2.4
15.6
2.6
-1.2
4.2
-0.2
-5.9
-4.8
-2.2
0.7
5.0
-17.5
0.5
-2.3
-1.1
-1.4
-6.1
1.0
4.0
0.6
1.3
17.8
2.0
-2.0
0.0
-1.9
-5.8
0.5
2.6
1.8
1.0
12.0
-0.4
-1.1
0.9
-0.1
-4.8
0.2
-0.8
1.3
1.3
-7.6
-0.3
1.8
2.0
2.5
2.0
1.4
1.9
1.9
1.8
1.5
1.8
2.7
1.7
2.5
1.6
1.9
0.6
1.9
2.3
2.1
1.9
1.9
2.0
2.8
2.9
2.2
2.3
-0.4
1.8
2.5
2.5
1.5
1.9
2.8
5.1
3.5
3.6
3.1
0.7
2.1
2.5
2.1
1.4
2.0
1.8
2.0
3.9
1.8
2.8
0.0
2.2
2.9
1.6
1.8
2.3
-0.7
2.8
1.6
2.2
-0.4
-2.3
1.7
3.0
1.8
2.9
1.4
1.0
1.6
1.6
1.0
1.7
3.2
2.1
1.7
1.9
2.5
2.1
2.0
1.9
2.2
-2.5
4.1
0.0
2.5
3.3
1.4
16.1
2.5
1.4
1.7
1.8
1.8
1.8
2.2
8.1
2.5
2.2
1.7
-13.6
0.6
1.8
1.1
10.5
1.9
1.3
1.0
9.9
1.5
0.9
1.2
-3.8
1.2
1.6
Addenda:
PCE excluding food and energy 4...............................................................................................
Energy goods and services 5.......................................................................................................
Market-based PCE 6.....................................................................................................................
Market-based PCE excluding food and energy6......................................................................
25
26
27
28
1. Net expenses of NPISHs, defined as their gross operating expenses less primary sales to households.
2. Gross output is net of unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; excludes own-account investment (construction and software).
3. Excludes unrelated sales, secondary sales, and sales to business, to government, and to the rest of the world; includes membership dues and fees.
4. Food consists of food and beverages purchased for off-premises consumption; food services, which include purchased meals and beverages, are not classified as food.
5. Consists of gasoline and other energy goods and of electricity and gas.
6. Market-based PCE is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most imputed transactions (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
May
2013
D-27
S u rv ey o f C urrent B usiness
3. Government Current Receipts and Expenditures
Table 3.1. Government Current Receipts and Expenditures
[Billions o f dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Current receipts............................................................................................................
Current tax receipts.........................................................................................................................
Personal current ta xe s................................................................................................................
Taxes on production and im ports..............................................................................................
Taxes on corporate income........................................................................................................
Taxes from the rest of the world
Contributions for government social insurance............................................................................
Income receipts on a ssets.......
Interest and miscellaneous receipts
Dividends...............................
Current transfer receipts...........
From business (net).............
From persons...............................................................................................................................
Current surplus of government enterprises
Current expenditures................
Consumption expenditures..................
Current transfer payments....................
Government social benefits........................................................................................................
To persons................................................................................................................................
To the rest of the world...........................................................................................................
Other current transfer payments to the rest of the world (ne t)..............................................
Interest payments.............................................................................................................................
To persons and business
To the rest of the world
Subsidies.......................
Less: Wage accruals less disbursements....................................................................................
Net government saving
Social insurance funds.
O ther.................................................................................................................................................
Addenda:
Total receipts.....................................................................................................................
Current receipts......................................................................................................................
Capital transfer receipts.........................................................................................................
Total expenditures.............
Current expenditures........
Gross government investment
Capital transfer payments
Net purchases of nonproduced assets................................................................................
Less: Consumption of fixed capital......................................................................................
Net lending or net borrowing (-)......................................................................................
1
?
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
an
?1
32
33
34
35
36
37
38
39
2013
II
III
IV
1
4,086.1
4,277.2
4,260.1
4.259.3
4,272.0
4.317.5
2,863.5
1,398.0
1,097.9
351.8
15.9
923.8
141.7
120.8
20.9
183.7
94.8
88.9
-26.5
3 043.6
1,475.8
1,130.0
420.5
17.3
952.9
138.8
115.9
22.8
176.0
84.4
91.5
-34.0
3,020.5
1,450.8
1,128.5
425.9
15.4
947.1
140.3
117.8
22.6
184.2
93.6
90.5
-32.0
3.027.3
1,465.2
1,130.9
414.4
16.9
949.0
139.0
116.1
22.8
178.1
86.7
91.3
-34.1
3,045.8
1,476.5
1,128.4
423.9
17.1
953.3
138.0
115.2
22.8
170.4
78.3
92.0
-35.5
3.080.6
1,510.8
1,132.2
417.8
19.9
962.3
137.7
114.6
23.1
171.3
79.0
92.3
-34.5
5,425.5
5,488.2
5,446.5
5,498.3
5,499.2
5,508.7
5,487.1
2,579.5
2,350.1
2,291.4
2,274.3
17.1
58.7
434.2
301.5
132.7
61.6
0.0
2,590.5
2,405.4
2,347.0
2,329.2
17.8
58.4
431.5
301.2
130.3
60.8
0.0
2,586.9
2,380.1
2,320.4
2,302.7
17.7
59.7
418.6
287.1
131.5
60.8
0.0
2,580.3
2,395.5
2,337.1
2,319.5
17.7
58.4
461.5
330.7
130.8
61.0
0.0
2,618.7
2,419.2
2,359.9
2,341.8
18.1
59.3
400.7
270.6
130.1
60.6
0.0
2,575.9
2,426.5
2,370.5
2,352.6
17.9
56.0
445.4
316.4
129.0
60.9
0.0
2,568.9
2,461.6
2,402.2
2,384.1
18.1
59.4
395.6
-1,339.4
-1,211.0
-1,186.4
-1,239.0
-1,227.2
-1,191.2
-274.9
-1,064.5
-282.0
-928.9
-285.2
-901.2
-281.3
-957.7
-283.4
-943.8
-278.2
-913.0
4,100.6
4,303.8
4,283.7
4,286.7
4,298.4
4,346.6
4,086.1
14.5
4,277.2
26.6
4,260.1
23.6
4,259.3
27.5
4,272.0
26.3
4,317 5
29.1
23.1
5,642.9
5,661.4
5,622.8
5,659.1
5,661.1
5,702.6
5,628.8
5,425.5
480.2
75.2
11.4
349.4
5,488.2
472.3
53.2
11.6
363.9
5,446.5
467.6
56.9
10.7
359.0
5,498.3
473.4
39.4
10.8
362.8
5,499.2
474.5
40.2
12.8
365.6
5,508.7
473.7
76.3
12.2
368.4
5,487.1
461.7
39.5
12.1
371.6
-1,542.3
-1,357.6
-1,339.1
-1,372.4
-1,362.7
-1,356.0
1,538.0
1,143.5
18.2
1,102.3
157.6
114.2
43.5
188.0
95.9
92.0
-39.9
60.9
0.0
-276.4
National Data
D -2 8
May 2 0 1 3
Table 3.2. Federal Government Current Receipts and Expenditures
Table 3.3. State and Local Government Current Receipts and Expenditures
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Personal current taxes.....
Taxes on production and
im ports..........................
Excise ta xe s.................
Customs duties.............
Taxes on corporate
Taxes from the rest of the
world...............................
Contributions for government
social insurance.................
Income receipts on assets....
Interest receipts................
Dividends...........................
Rents and royalties...........
Current transfer receipts.......
From business...................
From persons....................
Current surplus of
government enterprises....
Current expenditures
Consumption expenditures...
Current transfer payments ....
Government social
benefits..........................
To persons.....................
To the rest of the world
Other current transfer
payments.......................
Grants-in-aid to state
and local
governments.............
(net)
Interest payments..................
To persons and business
To the rest of the w orld ....
Subsidies................................
Less: Wage accruals less
disbursements...................
Net federal
government saving
Social insurance funds.........
O th er......................................
2013
II
III
IV
2,705.0
1
?
3
2,519.6
2,675.7
2,664.9
2,659.5
2,673.4
1,502.7
1,075.2
1,645.6
1,140.0
1,629.2
1,124.9
1,631.2
1,131.0
1,650.1
1,141.4
1,671.7
1,162.8
1,180.2
4
5
6
107.4
75.6
31.9
116.0
82.5
33.5
113.3
81.2
32.1
115.2
81.5
33.7
116.1
82.0
34.1
119.4
85.2
34.2
118.3
83.4
35.0
7
8
q
304.2
75.4
228.8
372.3
78 8
293.5
375.7
84.3
291.4
368.1
83 3
284.8
375.5
75.9
299.5
369.7
71.5
298.2
10
15.9
17.3
15.4
16.9
17.1
19.9
11
12
13
14
15
16
17
18
905.5
55.3
30.3
18.7
6.4
68.8
49.3
19.5
935.5
53.3
25.7
20.7
6.9
59.1
38.7
20.3
929.3
54.7
27.4
20.5
6.7
68.3
48.3
20.0
931.5
53.2
25.6
20.7
6.9
61.6
41.2
20.4
936.0
53.0
25.3
20.7
7.0
53.1
32.5
20.6
945.1
52.4
24.4
21.0
7.0
53.2
32.9
20.3
19
20
21
22
-12.7
-17.8
-16.7
-18.0
-18.8
-17.4
-22.6
3,757.0
3,757.7
3,723.6
3,774.8
3,760.6
3,771.6
3,730.5
1,061.5
2,309.4
1,059.6
2,319.2
1,055.6
2,301.0
1,054.8
2,310.8
1,086.3
2,326.1
1,041.9
2,338.7
1,032.7
2,357.1
23
24
25
1,752.9
1,735.8
17.1
1,792.8
1,775.0
17.8
1,786.0
1,768.4
17.7
1,785.6
1,767.9
17.7
1,796.2
1,778.1
18.1
1,803.3
1,785.4
17.9
1,832.8
1,814.7
18.1
26
556.5
526.4
515.0
525.2
529.9
535.4
524.2
Social insurance funds.......................
Addenda:
Contributions for government social
insurance
........................................
Income receipts on assets................
Interest receipts..............................
1,085.1
Dividends........................................
72.9
Rents and royalties........................
Current transfer receipts....................
24.5
Federal grants-in-aid......................
41.5
6.9
From business (net).......................
69.0
From persons..................................
Current surplus of government
49.5
19.5
enterprises......................................
497.8
468.0
455.3
466.9
470.6
479.4
464.8
28
29
30
31
32
58 7
325.0
192.2
132.7
61.1
584
318.5
188.2
130.3
60.4
59 7
306.7
175.2
131.5
60.4
58 4
348.7
217.9
130.8
60.6
59 3
288.1
158.0
130.1
60.1
56 0
330.6
201.6
129.0
60.4
59 4
280.3
33
0.0
0.0
0.0
0.0
0.0
0.0
0.0
34 -1,237.4 -1,082.0 -1,058.7 -1,115.4 -1,087.2 -1,066.7
-285.7
-280.7
-277.7
-284.4
-287.7
35
-283.6
-786.0
36
-959.7
-771.0
-831.7
-801.5
-797.6
Total expenditures.........
Current expenditures....
Gross government
investment................
Capital transfer
payments...................
Net purchases of
nonproduced assets
Less: Consumption of
fixed capital..............
Net lending or net
borrowing (-)..............
60.5
-279.3
Consumption expenditures...............
Government social benefit payments
to persons.......................................
Interest paym ents...............................
Subsidies.............................................
Less: Wage accruals less
disbursements................................
2012
2012
2,683.8
2,682.1
2,695.0
2,723.4
2,519.6
9.6
2,675.7
20.4
2,664.9
18.9
2,659.5
22.6
2,673.4
21.5
2,705.0
18.4
17.7
3,923.2
3,889.1
3,856.3
3,894.5
3,882.6
3,923.1
3,832.4
3,757.0
3,757.7
3,723.6
3,774.8
3,760.6
3,771.6
3,730.5
42
160.5
154.6
152.1
155.9
155.1
155.4
145.7
99.4
43
142.8
117.7
120.8
104.9
107.0
137.8
44
-0.1
0.7
-0.5
-0.2
1.9
1.6
1.7
45
137.0
141.5
139.7
141.0
142.0
143.3
144.9
II
2013
III
I
IV
1 2,064.4 2,069.5 2,050.4 2,066.7 2,069.2 2,091.9
? 1,360.8 1,398.0 1,391.2 1,396.1 1,395.7 1,408.9
3
322.8
335.8
325.9
334.2
335.0
348.0
357.8
291.2
325.2
4
293.8
301.9
302.7
315.5
303.5
5
31.6
32.1
32.3
32.5
32.6
32.3
32.3
990.4 1,014.0 1,015.2 1,015.7 1,012.3 1,012.8 1,025.2
6
7
461.5
476.4
476.3
473.3
483.5
475.3
475.1
439.8
447.7
446.5
447.3
448.2
448.8
449.4
8
q
89.2
92.4
92.1
90.7
92.3
91.0
88.9
10
47.6
48.2
46.2
48.4
50.1
48.1
11
12
13
14
15
16
17
18
19
18.3
86.4
73.0
2.2
11.2
612.7
497.8
45.5
69.4
17.5
85.4
72.1
2.1
11.2
584.9
468.0
45.7
71.2
17.8
85.7
72.4
2.1
11.2
571.1
455.3
45.3
70.5
17.5
85.8
72.4
2.2
11.2
583.4
466.9
45.5
71.0
17.3
85.0
71.7
2.1
11.2
587.8
470.6
45.8
71.4
17.2
85.3
72.0
2.1
11.2
597.5
479.4
46.1
72.0
17.2
84.7
71.6
2.0
11.2
583.8
464.8
46.5
72.6
-13.8
-15.4
-17.2
20
-16.3
-16.1
-16.7
-17.0
?1 2,166.3 2,198.5 2,178.1 2,190.3 2,209.2 2,216.4 2,221.4
22 1,518.0 1,530.8 1,531.4 1,525.5 1,532.4 1,534.0 1,536.2
23
24
25
538.5
109.2
0.5
554.2
113.0
0.5
534.4
111.9
0.5
551.6
112.8
0.5
563.7
112.6
0.5
567.2
114.8
0.5
569.4
115.4
0.5
26
0.0
0.0
0.0
0.0
0.0
0.0
0.0
?7
28
?q
-102.0
-129.0
-127.6
-123.7
-140.0
-124.5
2.8
-104.7
2.4
-131.4
2.5
-130.1
2.3
-126.0
2.3
-142.3
2.5
-127.1
10
31
32
33
34
35
36
2,136.9 2,140.2 2,119.0 2,137.1 2,140.8 2,164.1
Net state and local
Current receipts.........................
Capital transfer receipts............
Current expenditures................
Gross government investment
Capital transfer payments.........
Net purchases of nonproduced
assets.....................................
Less: Consumption of fixed
capital.....................................
Net lending or net borrowing (-)
2,696.1
Current expenditures............
Total expenditures.....................
2,529.2
46 -1,394.1 -1,193.1 -1,172.5 -1,212.4 -1,187.7 -1,199.8
Personal current taxes...................
Income ta xe s..............................
Other............................................
Taxes on production and imports
Sales taxes.................................
Property taxes...........................
Other............................................
18.2
27
17
38
39
40
41
2011
I
Addenda:
Capital transfer receipts
Line
I
2,064.4 2,069.5 2,050.4 2,066.7 2,069.2 2,091.9
72.5
70.7
68.5
70.4
72.2
71.6
2.9
65.2
2,285.1 2,304.7 2,285.6 2,297.1 2,315.9 2,320.3 2,321.1
2,166.3 2,198.5 2,178.1 2,190.3 2,209.2 2,216.4 2,221.4
319.7
317.7
315.5
317.5
318.3
316.1
319.5
0.0
0.0
0.0
0.0
0.0
0.0
0.0
3/
11.5
10.9
11.2
11.0
10.8
10.6
10.4
38
39
212.4
222.4
219.2
221.7
223.6
225.1
226.8
-148.2
-164.5
-166.6
-160.0
-175.1
-156.2
May 2013
S urvey
of
D-29
C u r r e n t B u s in e s s
Table 3.9.1. Percent Change From Preceding Period in Real Government
Consumption Expenditures and Gross Investment
Table 3.9.2. Contributions to Percent Change in Real Government
Consumption Expenditures and Gross Investment
[Percent]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Government consumption
expenditures and gross
investment........................
Consumption expenditures 1
Gross investm ent2..............
Structures.........................
Equipment and software
Federal............................................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software.....
National defense.......................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software......
Nondefense................................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software......
State and local..............................
Consumption expenditures..........
Gross investment..........................
Structures..................................
Equipment and software
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
-3.1
-2.3
-7.3
-10.6
-2.0
-2.8
-2.3
-5.6
-13.5
-3.6
-2.6
-1.8
-7.3
-21.2
-5.0
-3.1
-3.4
-1.7
-5.8
0.2
-3.4
-2.3
-8.1
-10.2
1.5
-1.7
-1.3
-4.0
-8.0
2.0
-2.2
-1.9
-4.4
-30.1
1.5
-3.1
-3.1
-3.4
-39.1
1.7
-0.3
0.6
-6.3
-22.6
1.1
-1.4
-0.9
-3.8
-5.4
2.9
-3.0
-1.1
-12.5
-14.8
-9.0
-4.2
-2.1
-17.9
-37.0
-13.7
-7.1
-4.7
-21.3
-45.7
-18.1
1.8
3.6
-10.0
-29.7
-0.9
-2.2
-0.5
-9.8
-12.4
1.5
II
2013
III
-0.7
-1.2
2.3
-5.3
13.8
-0.2
-1.5
8.7
-26.5
16.1
-0.2
-2.1
13.8
-43.5
21.5
-0.4
-0.2
-1.3
-12.3
3.0
-1.0
-1.1
-0.7
-3.1
9.1
Seasonally adjusted at annual rates
3.9
4.6
-0.2
-2.0
2.2
9.5
11.3
-2.0
-32.9
3.8
12.9
15.0
-0.6
-46.4
4.3
3.0
4.1
-4.9
-23.0
2.4
0.3
0.2
0.6
1.1
-1.0
IV
-7.0
-8.0
-1.2
-2.6
0.7
-14.8
-17.0
1.7
46.1
-3.8
-22.1
-24.9
-0.2
119.8
-6.4
1.7
1.2
5.9
12.7
3.6
-1.5
-1.3
-2.6
-5.8
10.5
Line
2011
2012
1
-4.1
-2.8
-11.0
-5.6
-18.0
-8.4
-6.0
-23.4
-29.5
-22.4
-11.5
-8.3
-30.3
-42.8
-29.1
-2.0
-1.4
-6.7
-19.0
-2.1
-1.2
-0.5
-4.4
-3.3
-8.7
1. Government consumption expenditures are services (such as education and national defense) produced by govern
ment that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
Percent change at annual rate:
Government consumption
expenditures and gross
investment.........................
Percentage points at annual
rates:
Consumption expenditures 1
Gross investm ent2..............
Structures.........................
Equipment and software
Federal............................................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software.....
National defense.......................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software......
Nondefense................................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software......
State and local...............................
Consumption expenditures..........
Gross investment..........................
Structures..................................
Equipment and software
2012
I
II
2013
III
IV
I
1
-3.1
-1.7
-3.0
-0.7
3.9
-7.0
-4.1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
-1.95
-1.19
-1.07
-0.13
-1.10
-0.80
-0.30
-0.15
-0.16
-0.69
-0.42
-0.27
-0.12
-0.16
-0.42
-0.39
-0.03
-0.03
0.00
-2.04
-1.15
-0.89
-0.92
0.03
-1.07
-0.62
-0.75
0.13
-0.87
-0.65
-0.22
-0.29
0.07
-0.83
-0.71
-0.12
-0.17
0.06
-0.04
0.07
-0.11
-0.12
0.01
-0.82
-0.42
-0.40
-0.46
0.06
-0.95
-2.05
-1.45
-0.59
-1.69
-0.70
-0.99
-0.36
-0.62
-1.92
-1.10
-0.82
-0.20
-0.61
0.23
0.40
-0.17
-0.16
-0.01
-1.31
-0.25
-1.06
-1.09
0.03
-1.04
0.35
-0.49
0.83
-0.09
-0.51
0.42
-0.22
0.65
-0.04
-0.48
0.44
-0.17
0.61
-0.05
-0.03
-0.02
-0.06
0.04
-0.60
-0.53
-0.08
-0.26
0.19
3.89
-0.02
-0.17
0.15
3.68
3.77
-0.09
-0.26
0.17
3.28
3.30
-0.01
-0.16
0.15
0.39
0.47
-0.08
-0.11
0.03
0.20
0.13
0.07
0.09
-0.02
-6.87
-0.13
-0.21
0.08
-6.13
-6.25
0.12
0.26
-0.14
-6.37
-6.39
0.02
0.21
-0.18
0.24
0.14
0.10
0.05
0.04
-0.87
-0.62
-0.25
-0.47
0.22
-2.33
-1.75
-0.50
-1.25
-3.36
-2.06
-1.29
-0.23
-1.06
-3.09
-1.91
-1.18
-0.15
-1.03
-0.27
-0.16
-0.11
-0.08
-0.02
-0.73
-0.27
-0.46
-0.26
-0.20
1. Government consumption expenditures are services (such as education and national defense) produced by govern
ment that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
Table 3.9.3. Real Government Consumption Expenditures
and Gross Investment, Quantity Indexes
Table 3.9.4. Price Indexes for Government Consumption Expenditures
and Gross Investment
[Index numbers, 2005=100]
[Index numbers, 2005=100]
Seasonally adjusted
Line
Government consumption
expenditures and gross
investment........................
Consumption expenditures 1
Gross investm ent2..............
Structures.........................
Equipment and software
Federal............................................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software.....
National defense.......................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software.....
Nondefense................................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software.....
State and local...............................
Consumption expenditures..........
Gross investment..........................
Structures..................................
Equipment and software..........
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
2011
106.497
107.407
101.921
87.966
129.828
119.480
117.171
135.978
155.435
132.254
118.683
116.338
135.354
150.219
133.401
121.114
118.884
137.535
159.774
129.718
99.224
101.434
90.054
83.598
125.145
2012
104.692
106.047
97.862
80.944
132.417
116.869
114.994
130.054
108.661
134.275
114.975
112.759
130.717
91.494
135.651
120.801
119.648
128.846
123.741
131.131
97.865
100.569
86.636
79.053
128.824
2012
Seasonally adjusted
2013
I
II
III
IV
I
104.804
106.242
97.555
82.110
128.831
116.751
115.098
128.218
117.952
130.254
115.031
113.213
127.695
104.194
130.616
120.317
119.015
129.524
129.992
129.721
98.103
100.818
86.829
79.716
126.086
104.622
105.916
98.104
81.003
133.054
116.685
114.674
130.927
109.199
135.214
114.987
112.619
131.887
90.344
137.121
120.205
118.946
129.088
125.783
130.697
97.858
100.552
86.669
79.083
128.874
105.620
107.123
98.044
80.598
133.770
119.359
117.775
130.265
98.831
136.471
118.518
116.631
131.676
77.308
138.567
121.082
120.142
127.469
117.808
131.466
97.932
100.612
86.806
79.293
128.541
103.721
104.907
97.746
80.065
134.015
114.679
112.430
130.808
108.661
135.163
111.362
108.571
131.611
94.131
136.299
121.599
120.490
129.300
121.382
132.641
97.565
100.292
86.239
78.122
131.794
102.644
104.172
94.941
78.923
127.542
112.196
110.711
122.381
99.566
126.876
107.997
106.235
120.247
81.866
125.075
120.974
120.071
127.067
115.138
131.931
97.264
100.154
85.266
77.473
128.836
1. Government consumption expenditures are services (such as education and national defense) produced by govern
ment that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
Line
Government consumption
expenditures and gross
investment.........................
Consumption expenditures 1
Gross investm ent2..............
Structures.........................
Equipment and software
Federal............................................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software.....
National defense.......................
Consumption expenditures.....
Gross investment......................
Structures ..............................
Equipment and software.....
Nondefense................................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software......
State and local...............................
Consumption expenditures..........
Gross investment..........................
Structures..................................
Equipment and software
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
2011
121.233
121.426
120.187
131.899
102.792
116.721
118.300
106.873
121.271
104.467
117.411
118.894
108.212
120.794
106.868
115.337
117.100
103.961
121.952
98.414
124.001
123.474
126.079
132.886
99.621
2012
123.443
123.503
123.105
136.882
103.335
118.565
120.322
107.624
124.757
104.770
119.483
121.213
108.803
124.018
107.198
116.725
118.533
105.041
125.657
98.658
126.462
125.587
130.230
138.032
100.643
2012
2013
I
II
III
IV
I
122.979
123.107
122.267
135.452
103.147
118.038
119.748
107.388
123.544
104.662
119.008
120.695
108.582
122.711
107.056
116.0%
117.848
104.769
124.497
98.636
126.042
125.320
129.051
136.581
100.298
123.157
123.168
123.084
136.666
103.511
118.403
120.102
107.818
124.371
105.035
119.268
120.921
109.054
123.491
107.500
116.664
118.451
105.114
125.359
98.830
126.089
125.170
130.082
137.832
100.647
123.574
123.595
123.451
137.414
103.470
118.679
120.434
107.751
125.258
104.847
119.541
121.260
108.922
124.629
107.282
116.948
118.769
105.186
126.093
98.719
126.605
125.665
130.699
138.568
100.894
124.063
124.142
123.619
137.995
103.210
119.141
121.006
107.540
125.853
104.534
120.115
121.976
108.652
125.240
106.953
117.193
119.065
105.096
126.680
98.448
127.110
126.193
131.088
139.148
100.735
124.582
124.679
124.038
138.785
103.228
119.852
121.800
107.740
126.860
104.627
121.004
122.997
108.759
126.461
106.975
117.572
119.443
105.484
127.547
98.707
127.497
126.549
131.628
139.918
100.613
1. Government consumption expenditures are services (such as education and national defense) produced by govern
ment that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
National Data
D-30
May 2013
Table 3.9.5. Government Consumption Expenditures
and Gross Investment
Table 3.10.1. Percent Change From Preceding Period in Real Government
Consumption Expenditures and General Government Gross Output
[Billions of dollars]
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Government consumption
expenditures and gross
investment........................
Consumption expenditures 1
Gross investm ent2..............
Structures.........................
Equipment and software
II
2013
III
IV
1 3,059.8 3,062.8 3,054.6 3,053.7 3,093.3 3,049.7 3,030.6
2 2,579.5 2,590.5 2,586.9 2,580.3 2,618.7 2,575.9 2,568.9
473.4
461.7
480.2
472.3
467.6
474.5
473.7
3
4
273.2
274.3
273.0
272.4
270.1
286.0
273.1
194.2
199.1
193.4
200.4
201.4
201.3
191.6
5
6 1,222.1 1,214.3 1,207.7 1,210.7 1,241.4 1,197.3 1,178.4
7 1,061.5 1,059.6 1,055.6 1,054.8 1,086.3 1,041.9 1,032.7
152.1
155.9
155.4
145.7
8
160.5
154.6
155.1
21.4
29.6
21.3
22.9
19.5
21.5
19.9
9
129.2
134.6
125.8
10
130.9
133.3
135.6
133.9
806.4
807.8 834.5
787.9
769.7
11
820.8
809.1
12
712.1
703.6
703.5
701.1
728.1
681.8
672.7
102.9
106.7
97.1
108.7
105.6
106.4
106.1
13
9.5
8.3
7.2
7.7
14
13.5
8.5
8.8
98.4
97.1
93.4
99.2
89.3
15
95.2
97.3
401.3
402.9
406.8
409.4
408.6
16
401.3
405.1
349.4
352.1
353.7
358.2
360.2
360.0
17
356.0
49.1
49.2
49.2
48.6
18
51.8
48.6
49.3
12.9
13.4
13.1
12.7
12.2
19
16.1
12.3
35.7
36.2
35.8
36.1
36.4
20
36.3
36.5
21 1,837.7 1,848.5 1,846.9 1,843.0 1,851.9 1,852.3 1,852.2
22 1,518.0 1,530.8 1,531.4 1,525.5 1,532.4 1,534.0 1,536.2
319.7
317.7
315.5
317.5
319.5
318.3
316.1
23
251.3
251.6
250.2
24
256.3
251.9
253.6
250.9
64.2
65.9
67.4
65.8
25
63.3
65.9
65.9
Nondefense................................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software......
State and local...............................
Consumption expenditures..........
Gross investment..........................
Structures..................................
Equipment and software
1. Government consumption expenditures are services (such as education and national defense) produced by govern
ment that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
Table 3.9.6. Real Government Consumption Expenditures
and Gross Investment, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Government consumption
expenditures and gross
investment.........................
Consumption expenditures 1
Gross investm ent2..............
Structures.........................
Equipment and software
Federal............................................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software......
National defense.......................
Consumption expenditures.....
Gross investment......................
Structures..............................
Equipment and software......
Nondefense................................
Consumption expenditures......
Gross investment......................
Structures..............................
Equipment and software......
State and local...............................
Consumption expenditures..........
Gross investment..........................
Structures..................................
Equipment and software..........
R esidual.............................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
II
2013
III
IV
I
2,523.9 2,481.1 2,483.7 2,479.4 2,503.1 2,458.1 2,432.6
2,124.4 2,097.5 2,101.3 2,094.9 2,118.8 2,074.9 2,060.4
382.4
384.6
372.2
399.5
383.6
384.3
383.2
202.4
199.7
198.7
194.5
216.8
199.5
197.3
192.7
193.6
189.0
187.5
194.7
195.0
185.6
1,047.0 1,024.1 1,023.1 1,022.5 1,045.9 1,004.9
880.7
143.7
17.1
127.2
881.5
141.6
18.5
123.4
878.2
144.6
17.2
128.1
699.1
677.3
677.6
599.0
100.4
11.2
89.1
580.5
97.0
6.8
90.6
582.9
94.8
7.8
87.2
347.9
347.0
298.4
49.9
13.2
36.3
300.3
46.7
10.2
36.7
897.3
150.2
24.4
125.3
983.2
902.0
143.9
15.5
129.3
861.0
144.5
17.1
128.1
847.9
135.2
15.7
120.2
677.3
698.1
656.0
636.2
579.8
97.9
6.7
91.5
600.5
97.7
5.8
92.5
559.0
97.7
7.0
91.0
546.9
89.2
6.1
83.5
345.6
345.3
347.8
349.3
347.5
298.7
47.0
10.7
36.3
298.6
46.8
10.4
36.6
301.6
46.2
9.7
36.8
302.4
46.9
10.0
37.1
301.4
46.1
9.5
36.9
1,482.0 1,461.7 1,465.3 1,461.6 1,462.7 1,457.2 1,452.7
1,229.4 1,218.9 1,221.9 1,218.7 1,219.4 1,215.6 1,213.9
244.0
253.6
243.9
244.5
244.4
242.8
240.1
192.9
182.4
184.0
182.5
183.0
180.3
178.8
65.4
65.5
65.4
63.6
64.0
65.3
66.9
-10.7
-9.8
-10.9
-11.5
-11.2
-9.8
-9.2
1. Government consumption expenditures are services (such as education and national defense) produced by govern
ment that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
N o te . Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is
the difference between the first line and the sum of the most detailed lines.
2012
2012
I
Government consumption
expenditures 1................................
Consumption expenditures.....
Gross investment......................
Structures.............................
Equipment and software.....
Consumption expenditures......
Gross investment......................
Structures.............................
Equipment and software.....
2011
I
Federal............................................
National defense.......................
Line
Gross output of general government
Value added....................................
Compensation of general
government employees........
Consumption of general
government fixed ca p ita l2....
Intermediate goods and services
purchased 3................................
Durable goods............................
Nondurable goods.....................
Services......................................
Less: Own-account investm ent4......
Sales to other sectors...........
Federal consumption expenditures 1..........
Gross output of general government....
Value added.........................................
Compensation of general
government employees............
Consumption of general
government fixed c a p ita l2........
Intermediate goods and services
purchased 3....................................
Durable goods................................
Nondurable goods.........................
Services...........................................
Less: Own-account investm ent4..........
Sales to other sectors...............
Defense consumption expenditures 1
Gross output of general government....
Value added.........................................
Compensation of general
government employees............
Consumption of general
government fixed c a p ita l2........
Intermediate goods and services
purchased 3....................................
Durable goods................................
Nondurable goods.........................
Services...........................................
Less: Own-account investm ent4..........
Sales to other sectors...............
Nondefense consumption
expenditures 1.....................................
Gross output of general government....
Value added.........................................
Compensation of general
government employees............
Consumption of general
government fixed c a p ita l2........
Intermediate goods and services
purchased ;
Durable goods
Nondurable goods.........................
Commodity Creait Corporation
inventory change...................
Other nondurable goods...........
Services...........................................
Less: Own-account investm ent4..........
Sales to other sectors...............
State and local consumption expenditures 1
Gross output of general government....
Value added.........................................
Compensation of general
government employees............
Consumption of general
government fixed c a p ita l2........
Intermediate goods and services
purchased 3....................................
Durable goods................................
Nondurable goods.........................
Services...........................................
Less: Own-account investm ent4..........
Sales to other sectors................
Tuition and related
educational charges.........
Health and hospital charges
Other sales.............................
II
2013
III
IV
I
1
2
3
-2.3
-1.3
-1.1
-1.2
4.6
-8.0
-2.8
-1.9
-O.b
-1.1
-0.3
-1.0
-0.2
-0.7
-0.7
4.0
0.5
-6.8
-0.5
-2.1
-0.3
4
-1.0
-0.7
-0.6
-1.1
0.3
-1.0
-0.8
5
2.2
1.7
1.5
1.5
1.6
2.4
2.0
6
7
8
9
10
11
12
13
14
-4.0
-4.2
-2.7
-4.5
-6.7
1.6
-2.3
-2.3
-0.9
-2.9
-3.3
0.3
-2.1
-24.2
0.1
-0.6
-6.9
0.6
-0.6
2.4
-1.6
-0.4
-1.4
3.1
9.8
12.1
-2.7
15.2
0.9
0.0
-16.3
-2.1
1.1
-23.8
-4.2
1.1
-4.9
-25.4
-0.6
-4.6
-4.6
2.6
-2.3
-1.9
-2.1
-1.5
11.3 -17.0
-6.0
-2.2
0.8
-2.2
-0.4
-2.5
-0.9
-1.0
-1.5
10.3
-0.6
-16.9
-0.5
-5.5
-1.1
15
0.1
-1.2
-1.7
-2.4
-1.3
-1.7
-2.3
16
3.2
2.3
1.8
1.9
2.1
4.0
3.1
-5.7 -4.6
-4.9 -2.5
-1.3 -1.2
-6.5 -5.4
-3.9 -11.2
16.1 -30.4
-4.6
-33.6
1.0
-0.7
-15.2
-37.4
-0.4
4.8
-4.3
-0.4
-4.3
62.6
26.5
20.0
-10.6
34.8
-3.8
-54.4
-34.8
-2.0
10.0
-43.6
-10.2
-10.3
-11.5
-35.5
0.3
-9.5
-9.3
72.3
17
18
19
20
21
22
23
24
2b
-1.8
-3.1
-4.7
-2.1
15.0 -24.9
-8.3
-1.8
1.4
-3.1
-1.0
-4.8
-3.6
-2.1
-1.7
14.9
-0.9
-24.8
-1.7
-8.3
-1.9
26
0.9
-1.9
-5.1
-2.8
-1.7
-3.2
-3.3
27
3.0
1.9
1.4
1.7
1.8
3.0
2.6
28
29
30
31
32
33
-5.5 -5.7
-4.8 -2.7
3.7 -2.9
-6.6 -6.7
-4.9 -11.7
5.1 -2.6
-6.4
-35.9
-2.4
0.2
-15.7
-10.0
-2.6
5.1
-13.8
-2.2
-8.8
-0.9
38.4
21.5
-20.6
52.1
-8.1
-0.9
-47.0
-2.2
20.7
-58.1
-7.2
-5.2
-16.8
-37.7
-9.6
-12.9
-7.7
3.2
34
35
36
-3.4
0.6
3.6
-0.2
4.1
1.2
-1.4
-2.9
-0.3
-0.5
0.6
2.1
4.2
1.1
-0.9
1.9
0.1
0.8
1.8
-0.1
0.2
37
-1.1
0.0
4.5
-1.6
-0.5
0.8
-0.7
38
3.7
3.3
2.8
2.6
2.9
6.7
4.6
39
40
41
-6.2
-4.9
-2.0
-0.2
-0.8
3.1
4.1
1.6
4.5
3.3
-0.5
1.1
-0.7
-4.7
-7.1
0.6
-6.2 -2.8
-3.2 -10.9
21.5 -41.9
3.5
-2.4
-14.8
-50.4
12.6
3.1
-0.6
121.7
-4.5
5.2
-0.3
-72.7
i.o
-0.5
-12.3
-14.1
14.5
-3.5
-10.6
148.8
42
43
44
45
46
47
48
49
-2.3
-0.9
-0.5
-1.1
0.2
-1.3
-0.5
-1.7
-1.2
-0.4
-0.3
-0.1
0.1
-0.5
-0.3
0.6
1.1
-0.7
-0.4
-0.2
0.1
50
-1.5
-0.5
-0.1
-0.6
1.0
-0.7
-0.1
51
1.5
1.2
1.2
1.2
1.2
1.2
1.2
52
53
54
55
56
57
-2.7
-2.9
-3.0
-2.6
-7.5
1.2
-0.7
-1.9
-0.8
-0.6
-1.0
1.3
-0.4
-1.9
-0.1
-0.6
-4.6
1.8
-0.7
-2.1
-1.0
-0.4
-0.6
1.9
-0.2
-1.7
-0.8
0.2
2.2
1.9
-1.3
-2.2
-0.9
-1.5
-2.7
1.4
-0.7
-2.0
-0.8
-0.5
-3.4
1.4
58
59
60
0.2
2.3
0.2
0.6
1.9
1.0
2.0
2.0
1.3
2.0
2.0
1.7
2.0
2.0
1.6
1.6
1.6
0.9
1.6
1.6
0.9
1. Government consumption expenditures are services (such as education and national defense) produced by govern
ment that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. 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.
May 2013
S urvey
of
C urren t B
D-31
u s in e s s
Table 3.10.3. Real Government Consumption Expenditures and General Government Gross Output, Quantity Indexes
[Index numbers, 2005=100]
Seasonally adjusted
Line
2011
2012
2012
I
Government consumption expenditures 1............................................................
Gross output of general government..........................................................................
Value added................................................................................................................
Compensation of general government employees............................................
Consumption of general government fixed capital2.........................................
Intermediate goods and services purchased 3......................................................
Durable goods........................................................................................................
Nondurable goods.................................................................................................
Services..................................................................................................................
Less: Own-account investment4.................................................................................
Sales to other sectors......................................................................................
Federal consumption expenditures 1.................................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed ca p ita l2.............................................
Intermediate goods and services purchased 3..........................................................
Durable goods............................................................................................................
Nondurable goods
Services....
Less: Own-account investment4.....................................................................................
Sales to other sectors
Defense consumption expenditures 1.......................................................................
Gross output of general government...............................................................................
Value added...
Compensation of general government employees................................................
Consumption of general government fixed capital2.............................................
Intermediate goods and services purchased 3..........................................................
Durable goods............................................................................................................
Nondurable goods......................................................................................................
Services......................................................................................................................
Less: Own-account investment4.....................................................................................
Sales to other sectors...........................................................................................
Nondefense consumption expenditures 1.................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital2.............................................
Intermediate goods and services purchased 3..........................................................
Durable goods............................................................................................................
Nondurable goods......................................................................................................
Commodity Credit Corporation inventory change.............................................
Other nondurable goods......................................................................................
Services......................................................................................................................
Less: Own-account investment4 .....................................................................................
Sales to other sectors...........................................................................................
State and local consumption expenditures 1....................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital2.............................................
Intermediate goods and services purchased 3..........................................................
Durable goods............................................................................................................
Nondurable goods......................................................................................................
Services......................................................................................................................
Less: Own-account investment4 .....................................................................................
Sales to other sectors...........................................................................................
Tuition and related educational charges........................................................
Health and hospital charges............................................................................
Other sales........................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
4?
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
II
2013
III
IV
I
107.407
106.047
106.242
105.916
107.123
104.907
104.172
107.158
106.141
104.031
118.720
108.869
127.596
105.030
108.679
93.791
106.464
106.004
105.797
103.299
120.737
106.395
124.691
104.112
105.566
90.742
106.789
106.083
105.899
103.544
119.974
106.436
122.531
104.717
105.550
91.115
106.105
105.908
105.713
103.252
120.430
106.280
123.253
104.288
105.440
90.801
106.913
106.945
105.850
103.332
120.908
108.793
126.819
103.583
109.230
91.013
106.915
105.079
105.727
103.069
121.636
104.069
126.162
103.860
102.046
90.039
107.221
104.531
105.641
102.868
122.253
102.762
117.258
103.698
100.862
88.991
107.904
117.171
114.994
115.098
114.674
117.775
112.430
110.711
117.127
115.730
113.215
125.348
118.909
144.528
114.193
116.584
105.676
119.757
114.495
115.217
111.878
128.207
113.485
140.945
112.795
110.279
93.802
83.301
114.618
115.652
112.686
127.104
113.196
136.678
114.635
110.060
95.660
84.125
114.322
115.228
112.012
127.713
113.070
138.303
113.375
109.943
94.614
95.001
117.164
115.067
111.651
128.374
119.909
144.758
110.256
118.461
93.705
78.082
111.875
114.919
111.163
129.635
107.766
144.039
112.915
102.652
91.229
75.994
110.303
114.589
110.514
130.630
104.538
129.059
112.999
100.114
89.022
87.067
116.338
112.759
113.213
112.619
116.631
108.571
106.235
116.166
115.792
113.024
124.860
116.549
144.962
108.864
113.016
103.018
97.443
112.559
114.670
110.901
127.254
109.864
141.098
105.695
105.447
90.959
94.932
113.024
115.300
111.967
126.337
110.125
136.564
110.496
105.763
93.938
95.505
112.427
114.794
111.170
126.866
109.413
138.279
106.459
105.186
91.803
95.299
116.388
114.539
110.683
127.429
118.680
145.178
100.495
116.822
89.885
95.093
108.397
114.046
109.784
128.384
101.239
144.368
105.330
94.016
88.211
93.829
106.082
113.512
108.875
129.196
96.680
128.286
102.707
90.834
86.462
94.561
118.884
119.648
119.015
118.946
120.142
120.490
120.071
119.067
115.597
113.522
126.660
124.181
140.425
118.436
116.240
113.551
130.835
121.638
140.207
117.856
116.306
113.911
129.206
120.095
139.125
118.179
116.037
113.450
130.043
121.299
139.678
118.731
116.054
113.307
130.982
122.653
140.824
118.978
116.564
113.537
133.111
122.505
141.200
118.935
116.625
113.347
134.626
122.305
139.522
117.077
124.534
107.827
133.408
117.767
121.065
96.103
77.491
115759
119.645
97.033
78.453
119.242
120.557
96.888
95.729
117.885
122.100
96.814
69.179
118.180
121.956
93.677
66.603
122.261
120.862
91.092
83.650
101.434
100.569
100.818
100.552
100.612
100.292
100.154
102.209
101.999
100.438
113.756
102.646
103.289
103.022
102.394
90.940
106.110
103.517
111.796
100.251
101.779
101.730
99.946
115.161
101.929
101.351
102.206
101.806
90.029
107.515
104.179
113.867
101.300
101.838
101.688
99.967
114.642
102.170
102.107
102.550
101.952
90.044
106.788
103.427
113.045
100.720
101.722
101.604
99.826
114.988
101.996
101.578
102.299
101.848
89.906
107.295
103.944
113.610
101.141
101.873
101.871
100.082
115.334
101.936
101.142
102.100
101.899
90.390
107.800
104.464
114.178
101.549
101.685
101.758
99.908
115.679
101.612
100.576
101.877
101.525
89.778
108.178
104.882
114.634
101.788
101.639
101.778
99.885
116.025
101.446
100.067
101.663
101.410
89.010
108.553
105.301
115.093
102.014
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.
National Data
D-32
May 2013
Table 3.10.4. Price Indexes for Government Consumption Expenditures and General Government Gross Output
[Index numbers, 2005=100]
Seasonally adjusted
Line
2011
2012
2012
I
Government consumption expenditures 1............................................................
Gross output of general government..........................................................................
Value added................................................................................................................
Compensation of general government employees............................................
Consumption of general government fixed capital2.........................................
Intermediate goods and services purchased 3......................................................
Durable goods.................................................
Nondurable goods...........................................
Services...........................................................
Less: Own-account investment4..........................
Sales to other sectors................................
Federal consumption expenditures 1..................................................................................
Gross output of general government........................
Value added.............................................................
Compensation of general government employees................................................
Consumption of general government fixed capital2.............................................
Intermediate goods and services purchased 3..........................................................
Durable goods.............................................................................................................
Nondurable goods......................................................................................................
Services............
Less: Own-account investm ent4......................................................................................
Sales to other sectors...........................................................................................
Defense consumption expenditures 1.......................................................................
Gross output of general government
Value added...................................
Compensation of general government employees................................................
Consumption of general government fixed capital2.............................................
Intermediate goods and services purchased 3..........................................................
Durable goods............................
Nondurable goods......................
Services......................................
Less: Own-account investment4 .....
Sales to other sectors...........
Nondefense consumption expenditures 1.................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital2.............................................
Intermediate goods and services purchased 3....
Durable goods......................................................
Commodity Credit Corporation inventory change.............................................
Other nondurable goods.......................................................................................
Services.........................
Less: Own-account investm ent4
Sales to other sectors
State and local consumption expenditures 1....................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital2.............................................
Intermediate goods and services purchased 3..........................................................
Durable goods.........................................
Nondurable goods..................................
Services..................................................
Less: Own-account investment4......................................................................................
Sales to other sectors.......................
Tuition and related educational charges........................................................
Health and hospital charges........
Other sales....................................
1
2
3
4
b
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
2/
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
62
53
54
55
56
57
58
59
60
II
2013
III
IV
I
121.426
123.503
123.107
123.168
123.595
124.142
124.679
121.782
120.838
121.464
117.439
123.295
105.097
138.943
119.558
119.558
124.447
124.041
123.234
123.833
119.976
125.325
106.288
141.818
121.379
121.564
127.928
123.522
122.370
122.950
119.211
125.378
105.905
143.966
120.710
120.948
126.601
123.692
123.046
123.611
119.960
124.708
106.363
139.529
121.293
121.364
127.472
124.192
123.507
124.094
120.307
125.272
106.473
140.991
121.585
121.850
128.458
124.759
124.013
124.678
120.425
125.941
106.410
142.787
121.926
122.096
129.182
125.383
124.652
125.365
120.821
126.538
106.769
143.115
122.652
122.782
130.359
118.300
120.322
119.748
120.102
120.434
121.006
121.800
118.311
119.540
122.316
109.974
116.786
103.600
130.795
116.626
119.779
118.079
120.340
121.995
125.206
111.008
118.267
104.302
132.597
118.181
121.104
120.844
119.764
120.985
124.017
110.576
118.257
104.119
136.516
117.578
120.296
120.285
120.119
121.784
124.908
111.075
118.028
104.355
130.312
118.218
120.989
120.570
120.454
122.338
125.586
111.230
118.084
104.488
129.970
118.322
121.428
121.157
121.022
122.873
126.314
111.153
118.697
104.245
133.590
118.606
121.702
121.365
121.815
123.725
127.328
111.494
119.409
104.590
134.676
119.315
121.913
122.375
118.894
121.213
120.695
120.921
121.260
121.976
122.997
118.899
120.366
123.287
111.704
117.212
104.559
146.703
116.462
122.909
117.347
121.215
123.394
127.028
112.728
118.644
105.338
147.847
118.047
123.895
119.947
120.696
122.307
125.725
112.239
118.836
105.128
155.772
117.424
123.063
119.414
120.924
123.154
126.674
112.800
118.282
105.361
143.599
118.052
123.805
119.799
121.264
123.744
127.413
112.978
118.317
105.539
142.172
118.211
124.281
120.059
121.976
124.370
128.300
112.895
119.143
105.325
149.847
118.502
124.434
120.515
122.993
125.578
129.832
113.226
119.899
105.695
151.846
119.191
124.474
121.374
117.100
118.533
117.848
118.451
118.769
119.065
119.443
117.145
118.036
120.709
105.398
115.913
92.704
118.614
119.436
122.186
106.460
117.486
92.536
117.930
118.566
121.184
106.174
117.062
92.660
118.527
119.278
121.980
106.512
117.497
92.911
118.853
119.766
122.556
106.607
117.598
92.563
119.147
120.135
123.024
106.545
117.787
92.011
119.534
120.348
123.200
106.912
118.418
92.087
115.074
117.020
117.360
117.580
117.312
118.513
118.950
120.273
117.342
117.953
118.162
119.716
116.861
118.615
118.818
119.937
117.503
118.606
119.228
120.713
117.544
118.877
119.591
120.724
117.801
119.621
119.932
121.841
123.474
125.587
125.320
125.170
125.665
126.193
126.549
123.627
121.396
121.104
123.704
127.821
107.860
140.887
122.007
119.453
124.597
140.968
119.410
121.308
126.018
123.761
123.245
127.599
130.257
110.032
144.029
124.080
121.645
128.102
147.757
122.176
123.785
125.532
122.971
122.495
126.533
130.350
109.253
145.724
123.351
121.078
126.756
145.593
120.911
122.858
125.594
123.584
123.055
127.508
129.363
110.146
141.743
123.883
121.423
127.642
147.257
121.781
123.253
126.190
123.998
123.454
128.029
130.303
110.210
143.657
124.348
121.921
128.637
148.424
122.792
124.106
126.757
124.491
123.975
128.326
131.012
110.519
144.994
124.739
122.159
129.373
149.756
123.219
124.925
127.284
125.022
124.521
128.770
131.532
110.907
145.129
125.480
122.962
130.554
152.058
124.255
125.587
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.
May 2 0 1 3
S urvey
of
D -3 3
C u r r e n t B u s in e s s
Table 3.10.5. Government Consumption Expenditures and General Government Gross Output
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Government consumption expenditures 1............................................................
Gross output of general government.........................
Value added..............................................................
Compensation of general government employees............................................
Consumption of general government fixed capital2........................................
Intermediate goods and services purchased 3.....................................................
Durable goods........................................................................................................
Nondurable g oods........
Services..................................................................................................................
Less: Own-account investment4.................................................................................
Sales to other sectors
Federal consumption expenditures 1...................................
Gross output of general government...............................................................................
Value added..................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital2.............................................
Intermediate goods and services purchased 3..........................................................
Durable goods
Nondurable goods......................................................................................................
Services .................................................................................................................
Less: Own-account investment4 .....................................................................................
Sales to other sectors...........................................................................................
Defense consumption expenditures 1
Gross output of general government...............................................................................
Value added...........................
Compensation of general government employees................................................
Consumption of general government fixea ca p ita l2.............................................
Intermediate goods and services purchased 3..........................................................
Durable goods....................
Nondurable goods.............
Services......................................................................................................................
Less: Own-account investment4.....................................................................................
Sales to other sectors...
Nondefense consumption expenditures1.................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital2.............................................
Intermediate goods and services purchased 3..........................................................
Durable goods............................................................................................................
Nondurable goods......................................................................................................
Commodity Credit Corporation inventory change.............................................
Other nondurable goods......................................................................................
Services....................................................................
Less: Own-account investment4 ...................................
Sales to other sectors........................................
State and local consumption expenditures 1....................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital2 .............................................
Intermediate goods and services purchased 3..........................................................
Durable goods............................................................................................................
Nondurable goods.............
Services......................................................................................................................
Less: Own-account investment4 .....................................................................................
Sales to other sectors...........................................................................................
Tuition and related educational charges........................................................
Health and hospital charges............................................................................
Other sales........................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
II
2013
III
IV
I
2,579.5
2,590.5
2,586.9
2,580.3
2,618.7
2,575.9
2,568.9
3,000.8
1,842.4
1,551.4
291.0
1,158.3
73.2
317.5
767.6
26.7
394.5
3,023.5
1,872.9
1,570.6
302.3
1,150.6
72.4
321.2
757.0
26.2
406.8
3,013.1
1,861.5
1,563.1
298.5
1,151.6
70.8
328.0
752.7
26.2
400.0
3,012.3
1,868.5
1,567.0
301.5
1,143.7
71.6
316.6
755.6
26.2
405.8
3,054.0
1,878.0
1,574.4
303.5
1,176.1
73.7
317.7
784.6
26.4
408.9
3,014.5
1,883.5
1,577.8
305.7
1,131.0
73.3
322.6
735.1
26.1
412.4
3,013.7
1,891.6
1,583.4
308.2
1,122.1
68.3
322.9
730.9
26.0
418.8
1,061.5
1,059.6
1,055.6
1,054.8
1,086.3
1,041.9
1,032.7
1,080.3
607.0
477.0
130.0
473.3
48.4
60.7
364.2
5.9
12.9
1,074.1
616.7
482.5
134.2
457.4
47.5
60.8
349.1
5.3
9.2
1,070.1
613.9
481.4
132.5
456.2
46.0
63.6
346.7
5.3
9.2
1,070.5
615.7
481.9
133.8
454.8
46.7
60.0
348.2
5.3
10.4
1,100.2
617.6
483.0
134.6
482.6
48.9
58.2
375.5
5.3
8.6
1,055.5
619.5
483.7
135.9
436.0
48.5
61.3
326.2
5.2
8.4
1,047.5
622.0
484.7
137.3
425.4
43.6
61.8
320.0
5.0
9.7
712.1
703.6
703.5
701.1
728.1
681.8
672.7
718.5
396.4
300.6
95.8
322.1
44.8
33.4
244.0
2.6
3.8
709.7
402.4
303.9
98.5
307.3
43.9
32.7
230.7
2.3
3.8
709.6
401.0
303.6
97.4
308.6
42.4
35.9
230.2
2.4
3.8
707.2
402.1
303.8
98.3
305.1
43.0
31.9
230.2
2.3
3.8
734.1
403.1
304.2
98.9
331.1
45.3
29.8
256.0
2.3
3.8
687.8
403.4
303.8
99.6
284.4
44.9
33.0
206.5
2.3
3.7
678.7
405.4
304.9
100.5
273.3
40.1
32.6
200.7
2.2
3.8
349.4
356.0
352.1
353.7
358.2
360.2
360.0
361.8
210.6
176.4
34.2
151.2
3.6
27.3
0.0
27.3
120.3
3.3
9.1
364.4
214.3
178.6
35.7
150.1
3.6
28.1
0.1
28.0
118.4
3.0
5.4
360.5
212.9
177.7
35.1
147.7
3.6
27.6
0.1
27.5
116.5
3.0
5.4
363.3
213.6
178.2
35.5
149.7
3.6
28.1
-0.2
28.2
118.0
3.0
6.7
366.1
214.5
178.8
35.8
151.5
3.6
28.4
0.3
28.1
119.5
3.0
4.8
367.7
216.1
179.8
36.3
151.6
3.6
28.3
0.2
28.2
119.7
2.9
4.7
368.8
216.6
179.8
36.9
152.1
3.6
29.2
0.1
29.2
119.3
2.8
5.9
1,518.0
1,530.8
1,531.4
1,525.5
1,532.4
1,534.0
1,536.2
1,920.5
1,235.4
1,074.4
161.0
685.0
24.8
256.8
403.4
20.8
381.7
89.3
176.6
115.8
1,949.4
1,256.2
1,088.1
168.1
693.2
24.8
260.5
407.9
21.0
397.6
94.2
184.1
119.4
1,943.0
1,247.6
1,081.7
165.9
695.3
24.8
264.4
406.1
20.9
390.8
92.1
180.8
117.8
1,941.7
1,252.8
1,085.1
167.7
688.9
24.9
256.6
407.4
20.9
395.4
93.6
183.0
118.7
1,953.8
1,260.3
1,091.4
168.9
693.5
24.8
259.5
409.2
21.1
400.3
94.8
185.5
120.0
1,959.0
1,263.9
1,094.1
169.8
695.1
24.8
261.4
408.9
21.0
404.0
96.1
186.9
121.1
1,966.3
1,269.6
1,098.7
170.9
696.7
24.7
261.1
410.9
20.9
409.1
97.9
189.2
122.0
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
software in table 3.9.5.
National Data
D-34
May 2013
Table 3.10.6. Real Government Consumption Expenditures and General Government Gross Output, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
II
2013
III
IV
I
Government consumption expenditures 1............................................................
1
2,124.4
2,097.5
2,101.3
2,094.9
2,118.8
2,074.9
2,060.4
Gross output of general government...........................................................................
Value added................................................................................................................
Compensation of general government employees............................................
Consumption of general government fixed ca p ita l2.........................................
Intermediate goods and services purchased 3......................................................
Durable goods............
Nondurable goods.....
Services..................................................................................................................
Less: Own-account investment4.................................................................................
Sales to other sectors.......................................................................................
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
2,464.0
1,524.7
1,277.3
247.8
939.5
69.7
228.5
642.1
22.3
317.0
2,437.5
1,519.8
1,268.3
252.0
918.1
68.1
226.5
623.7
21.6
318.0
2,439.3
1,521.2
1,271.3
250.4
918.5
66.9
227.8
623.6
21.7
316.0
2,435.3
1,518.5
1,267.7
251.3
917.1
67.3
226.9
622.9
21.6
318.4
2,459.1
1,520.5
1,268.7
252.3
938.8
69.2
225.4
645.3
21.6
318.4
2,416.2
1,518.7
1,265.5
253.8
898.1
68.9
226.0
602.9
21.4
319.3
2,403.6
1,517.5
1,263.0
255.1
886.8
64.0
225.6
595.9
21.2
321.3
897.3
880.7
881.5
878.2
902.0
861.0
847.9
913.1
507.8
390.0
118.2
405.3
46.7
46.4
312.3
4.9
10.9
892.6
505.5
385.4
120.9
386.8
45.6
45.8
295.4
4.4
7.6
893.5
507.4
388.1
119.9
385.8
44.2
46.6
294.8
4.4
7.6
891.2
505.6
385.8
120.4
385.4
44.7
46.0
294.5
4.4
8.6
913.4
504.8
384.6
121.1
408.7
46.8
44.8
317.3
4.4
7.1
872.1
504.2
382.9
122.2
367.3
46.6
45.9
275.0
4.2
6.9
859.9
502.8
380.7
123.2
356.3
41.7
45.9
268.2
4.1
7.9
599.0
580.5
582.9
579.8
600.5
559.0
546.9
604.3
329.3
243.8
85.8
274.8
42.8
22.7
209.5
2.1
3.2
585.5
326.1
239.2
87.4
259.1
41.7
22.1
195.5
1.9
3.1
587.9
327.9
241.5
86.8
259.7
40.4
23.1
196.0
1.9
3.2
584.8
326.5
239.8
87.1
258.0
40.9
22.2
195.0
1.9
3.1
605.4
325.7
238.8
87.5
279.9
42.9
21.0
216.5
1.8
3.1
563.9
324.3
236.8
88.2
238.7
42.7
22.0
174.3
1.8
3.1
551.8
322.8
234.9
88.7
228.0
37.9
21.5
168.4
1.8
3.1
298.4
300.3
298.7
298.6
301.6
302.4
301.4
308.8
178.4
146.2
32.4
130.4
3.9
23.7
0.0
23.7
102.8
2.8
7.7
307.2
179.4
146.2
33.5
127.8
3.9
23.9
0.0
23.9
99.9
2.5
4.5
305.7
179.5
146.7
33.1
126.1
3.9
23.5
0.0
23.5
98.7
2.5
4.5
306.5
179.1
146.1
33.3
127.4
3.9
24.1
-0.1
24.2
99.5
2.5
5.5
308.0
179.1
145.9
33.5
128.8
3.9
24.0
0.1
23.9
100.8
2.5
4.0
308.6
179.9
146.2
34.1
128.7
3.9
24.0
0.1
23.9
100.6
2.4
3.9
308.5
180.0
145.9
34.5
128.5
3.9
24.8
0.0
24.8
99.7
2.4
4.8
1,229.4
1,218.9
1,221.9
1,218.7
1,219.4
1,215.6
1,213.9
1,553.4
1,017.7
887.2
130.1
535.9
23.0
182.3
330.6
17.4
306.3
63.3
147.9
95.5
-2.5
1,546.9
1,015.0
882.9
131.7
532.2
22.6
180.8
328.7
17.2
310.4
63.7
150.7
96.5
-2.4
1,547.8
1,014.6
883.0
131.1
533.5
22.7
181.5
329.2
17.2
308.3
63.3
149.6
95.9
-1.8
1,546.0
1,013.7
881.8
131.5
532.6
22.6
181.0
328.9
17.2
309.8
63.6
150.3
96.3
-2.4
1,548.3
1,016.4
884.1
131.9
532.2
22.5
180.7
329.0
17.3
311.2
63.9
151.1
96.7
-3.8
1,545.5
1,015.3
882.5
132.3
530.5
22.4
180.3
327.8
17.2
312.3
64.2
151.7
96.9
-2.0
1,544.8
1,015.5
882.3
132.7
529.7
22.3
179.9
327.5
17.0
313.4
64.4
152.3
97.1
-1.6
Federal consumption expenditures 1..................................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed c a p ita l2.............................................
Intermediate goods and services purchased 3..........................................................
Durable goods.............................................................................................................
Nondurable goods......................................................................................................
Services.............
Less: Own-account investm ent4 ......................................................................................
Sales to other sectors...........................................................................................
Defense consumption expenditures 1.......................................................................
Gross output of general government.
Value added.....................................
Compensation of general government employees................................................
Consumption of general government fixed ca p ita l2.............................................
Intermediate goods and services purchased 3..........................................................
Durable goods....................................................................
Nondurable goods..........
Services..........................
Less: Own-account investment4 ......................................................................................
Sales to other sectors
Nondefense consumption expenditures 1.................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed capital2.............................................
Intermediate goods and services purchased 3..........................................................
Durable goods.............................................................................................................
Nondurable goods
Commodity Credit Corporation inventory change.............................................
Other nondurable goods
Services.......................................................................................................................
Less: Own-account investment4 ......................................................................................
Sales to other sectors
State and local consumption expenditures 1....................................................................
Gross output of general government...............................................................................
Value added....................................................................................................................
Compensation of general government employees................................................
Consumption of general government fixed c apital2.............................................
Intermediate goods and services purchased 3..........................................................
Durable goods.............................................................................................................
Nondurable goods..........
Services......................................................................................................................
Less: Own-account investm ent4
Sales to other sectors
Tuition and related educational charges........................................................
Health and hospital charges
Other s ales.....................7.................................................................................
Residual............................................................................................................................................
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in
software in table 3.9.5.
N ote. Chained (2 0 0 5 ) dollar series are calculated as the product of the chain-type quantity index and the 2 0 0 5 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.
May 2013
S urvey
of
D-35
C u r r e n t B u s in e s s
Table 3.11.1. Percent Change From Preceding Period in Real National Defense Consumption
Expenditures and Gross Investment by Type
[Percent]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
National defense consumption expenditures and gross investment....................
Consumption expenditures 1...............................................................................................
Gross output of general government..........................
Value added..............................................................
Compensation of general government employees
M ilitary..............................................................
Civilian..............................................................
Consumption of general government fixed capital2
Intermediate goods and services purchased 3 ...................................................................
Durable goods.....................................................................................................................
Aircraft..............................................................................................................................
Missiles
Ships..
Vehicles
Electronics
Other durable goods
Nondurable goods..............................................................................................................
Petroleum products........................................................................................................
Ammunition................
Other nondurable goods
Services..........................
Research and development
Installation support.
Weapons support......
Personnel support
Transportation of m aterial.............................................................................................
Travel of persons,
Less: Own-account investment4
Sales to other sectors
Gross investment5.................
Structures.....................................................................................................................................
Equipment and software
Aircraft.....................
Missiles...................
Ships.......................
Vehicles...................
Electronics and software
Other equipment....
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
II
2013
III
IV
I
-2.6
-1.8
-3.1
-3.1
-7.1
-4.7
-0.2
-2.1
12.9
15.0
-22.1
-24.9
-11.5
-8.3
-1.8
1.4
0.9
-0.4
3.6
3.0
-5.5
-4.8
12.3
-18.0
-18.6
-16.5
-19.9
-4.4
3.7
4.2
-3.6
6.2
-6.6
-9.4
-6.6
-7.5
-3.0
-12.5
-11.6
-4.9
5.1
-3.1
-1.0
-1.9
-2.6
-0.3
1.9
-5.7
-2.7
7.6
-7.3
4.5
-16.7
-14.0
-5.4
-2.9
-6.7
-0.6
3.1
-6.7
-7.3
-3.7
-12.9
0.4
-39.0
-15.4
-11.7
-2.6
-4.8
-3.6
-5.1
-5.8
-3.8
1.4
-6.4
-35.9
-25.1
-50.9
-54.8
-62.3
-57.1
-15.9
-2.4
8.4
-48.4
2.5
0.2
19.0
-1.4
-6.8
6.1
-56.7
-12.9
-15.7
-10.0
-2.1
-1.7
-2.8
-3.4
-1.6
1.7
-2.6
5.1
1.7
-15.1
152.7
87.7
25.3
-13.9
-13.8
-26.3
19.7
2.8
-2.2
23.0
-7.1
-13.6
0.3
-45.9
-26.4
-8.8
-0.9
14.9
-0.9
-1.7
-2.1
-1.0
1.8
38.4
21.5
34.9
103.7
40.1
-19.8
-2.7
9.7
-20.6
-46.9
98.2
1.2
52.1
-3.1
65.5
219.2
60.4
-25.1
-11.4
-8.1
-0.9
-24.8
-1.7
-3.2
-3.6
-2.5
3.0
-47.0
-2.2
24.1
6.5
-43.8
-37.6
-17.0
-23.2
20.7
65.7
-37.0
-3.6
-58.1
-33.8
-57.0
-89.7
-53.6
-27.0
-26.5
-7.2
-5.2
-8.3
-1.9
-3.3
-3.7
-2.4
2.6
-16.8
-37.7
-44.4
-18.1
-66.6
-71.7
-50.7
1.1
-9.6
16.7
-69.7
-16.6
-12.9
-0.2
-11.7
-43.8
-8.4
-24.1
-24.2
-7.7
3.2
-7.3
-3.4
-21.3
13.8
-0.6
-0.2
-30.3
-21.2
-5.0
13.7
-7.0
-6.0
-26.4
-8.5
-5.6
-39.1
1.7
26.1
17.6
1.5
-22.2
-6.2
-6.1
-45.7
-18.1
51.0
38.1
-57.7
-65.7
-33.9
-17.0
-43.5
21.5
40.5
6.9
89.1
49.6
12.3
-5.2
-46.4
4.3
30.1
-5.7
-24.4
-6.1
-0.4
5.0
119.8
-6.4
-33.0
132.2
54.7
-20.7
-7.5
-15.0
-42.8
-29.1
11.6
-65.9
-59.1
-81.9
-23.1
-15.3
1. National defense consumption expenditures are defense services produced by government that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in
software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed assets; inventory investment is included in government consumption expenditures.
National Data
D -3 6
M ay 2 0 1 3
Table 3.11.3. Real National Defense Consumption Expenditures
and Gross Investment by Type, Quantity Indexes
Table 3.11.4. Price Indexes for National Defense Consumption
Expenditures and Gross Investment by Type
[Index numbers, 2005=100]
[Index numbers, 2005=100]
Seasonally adjusted
Seasonally adjusted
Line
2011
2012
2012
I
National defense
consumption expenditures
and gross investment
Consumption expenditures 1
Gross output of general
government................................
Value a dded...............................
Compensation of general
government employees....
Military................................
Civilian................................
Consumption of general
government fixed c a p ita l2
Intermediate goods and
services purchased 3 ...........
Durable goods.......................
Aircraft................................
M issiles..............................
S hips..................................
Vehicles..............................
Electronics.........................
Other durable goods.........
Nondurable goods.................
Petroleum products..........
Ammunition.......................
Other nondurable goods...
S ervices.................................
Research and
development..................
Installation support...........
Weapons support.............
Personnel support............
Transportation of material
Travel of persons..............
Less; Own-account investm ent4
Sales to other sectors
Gross investment5.........................
Structures........................................
Equipment and software...............
Aircraft.........................................
Missiles........................................
Ships
Vehicles......................................
Electronics and software.........
Other equipment........................
II
2013
III
IV
1 118.683 114.975 115.031 114.987 118.518 111.362 107.997
2 116.338 112.759 113.213 112.619 116.631 108.571 106.235
3 116.166 112.559 113.024 112.427 116.388 108.397 106.082
4 115.792 114.670 115.300 114.794 114.539 114.046 113.512
5 113.024 110.901 111.967 111.170 110.683 109.784 108.875
6 110.328 107.410 108.641 107.704 107.129 106.164 105.169
7 118.847 118.501 119.191 118.711 118.426 117.678 116.971
8 124.860 127.254 126.337 126.866 127.429 128.384 129.196
109.864
141.098
175.824
97.854
44.155
202.612
139.633
123.173
105.695
101.713
85.914
128.524
105.447
110.125
136.564
166.309
91.633
36.643
190.122
135.822
127.260
110.496
112.562
78.236
127.955
105.763
109.413
138.279
167.023
87.956
46.200
222.526
143.706
122.580
106.459
104.278
81.835
128.850
105.186
118.680
145.178
179.987
105.073
50.260
210.609
142.741
125.439
100.495
89.015
97.096
129.237
116.822
101.239
144.368
189.976
106.752
43.519
187.190
136.263
117.413
105.330
100.996
86.487
128.055
94.016
9
10
11
12
13
14
15
16
17
18
19
20
21
116.549
144.962
163.439
105.509
42.239
243.101
162.338
130.186
108.864
108.989
86.408
124.707
113.016
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
83.122 77.027 76.250 80.305 79.683 71.869 71.832
108.095 104.103 104.178 102.282 116.016 93.937 91.052
121.257 105.661 106.139 102.322 136.771 77.413 67.016
140.348 140.862 138.887 139.006 156.430 129.124 126.318
148.361 90.557 106.757 91.568 85.172 78.732 73.484
92.246 78.037 85.362 79.060 76.702 71.025 66.264
103.018 90.959 93.938 91.803 89.885 88.211 86.462
97.443 94.932 95.505 95.299 95.093 93.829 94.561
96.680
128.286
164.053
101.555
33.083
136.566
114.206
117.729
102.707
104.978
64.179
122.388
90.834
135.354 130.717 127.695 131.887 131.676 131.611 120.247
150.219
133.401
138.113
124.150
92.438
168.332
156.674
132.677
91.494
135.651
174.107
145.994
93.837
130.967
147.025
124.632
104.194
130.616
161.831
137.207
83.684
124.079
144.620
126.378
90.344
137.121
176.187
139.526
98.129
137.225
148.883
124.700
77.308
138.567
188.159
137.504
91.493
135.095
148.744
126.244
94.131
136.299
170.252
169.738
102.043
127.471
145.854
121.207
81.866
125.075
174.985
129.747
81.598
83.190
136.598
116.276
1. National defense consumption expenditures are defense services produced by government that are valued at their
cost of production. Excludes government sales to other sectors and government own-account investment (construction
and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial m easure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and
related expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
Line
2011
2012
I
2012
I
National defense
consumption expenditures
and gross investment
Consumption expenditures 1
Gross output of general
government.................................
Value added................................
Compensation of general
government employees....
M ilitary................................
Civilian................................
Consumption of general
government fixed c a p ita l2
Intermediate goods and
services purchased 3............
Durable goods.......................
Aircraft................................
Missiles...............................
Ships...................................
Vehicles..............................
Electronics.........................
Other durable goods
Nondurable goods................
Petroleum products...........
Ammunition........................
Other nondurable goods...
Services..................................
Research and
development..................
Installation support...........
Weapons support.............
Personnel support............
Transportation of material
Travel of persons...............
Less; Own-account investm ent4
Sales to other sectors
Gross investment5........................
Structures.......................................
Equipment and software...............
A ircraft.........................................
Missiles.......................................
Ships............................................
Vehicles......................................
Electronics and software...........
Other equipment........................
II
2013
III
IV
I
1 117.411 119.483 119.008 119.268 119.541 120.115 121.004
2 118.894 121.213 120.695 120.921 121.260 121.976 122.997
3 118.899 121.215 120.696 120.924 121.264 121.976 122.993
4 120.366 123.394 122.307 123.154 123.744 124.370 125.578
5 123.287 127.028 125.725 126.674 127.413 128.300 129.832
6 124.543 129.411 127.918 128.978 129.825 130.923 133.150
7 120.739 122.270 121.338 122.069 122.598 123.076 123.267
8 111.704 112.728 112.239 112.800 112.978 112.895 113.226
9
10
11
12
13
14
15
16
17
18
19
20
21
117.212
104.559
101.815
108.546
111.341
107.435
101.516
107.597
146.703
176.347
124.035
114.071
116.462
118.644
105.338
102.483
110.142
111.814
109.226
101.814
108.460
147.847
177.204
124.854
115.779
118.047
118.836
105.128
102.255
109.734
112.340
109.033
101.807
108.122
155.772
193.716
125.045
115.356
117.424
118.282
105.361
102.420
110.566
111.690
109.002
101.922
108.504
143.599
168.433
124.840
115.509
118.052
118.317
105.539
102.680
111.065
111.319
109.081
101.776
108.735
142.172
164.865
124.415
116.115
118.211
119.143
105.325
102.576
109.204
111.909
109.789
101.751
108.477
149.847
181.802
125.114
116.135
118.502
119.899
105.695
102.866
109.733
113.036
109.801
102.169
108.939
151.846
185.677
126.531
116.008
119.191
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
117.999
119.301
113.609
113.187
120.573
125.343
122.909
117.347
120.193
119.842
115.999
114.797
121.364
126.679
123.895
119.947
119.578
119.595
115.324
114.231
119.514
125.440
123.063
119.414
120.021
119.929
115.792
114.535
123.849
128.895
123.805
119.799
120.447
119.808
116.451
115.024
121.012
125.603
124.281
120.059
120.728
120.035
116.430
115.398
121.080
126.778
124.434
120.515
121.388
121.002
116.882
115.903
122.020
128.816
124.474
121.374
108.212 108.803 108.582 109.054 108.922 108.652 108.759
120.794
106.868
106.893
113.341
128.687
109.032
92.946
106.572
124.018
107.198
105.099
116.395
129.781
112.559
92.644
107.295
122.711
107.056
104.921
116.243
130.151
111.286
92.910
106.935
123.491
107.500
105.610
117.241
130.481
112.298
92.821
107.351
124.629
107.282
105.154
118.095
129.381
112.004
92.440
107.533
125.240
106.953
104.711
114.002
129.112
114.648
92.406
107.362
126.461
106.975
103.905
114.392
129.829
113.803
92.576
107.814
1. National defense consumption expenditures are defense services produced by government that are valued at their
cost of production. Excludes government sales to other sectors and government own-account investment (construction
and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and
related expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
May 2 0 1 3
S urvey
C urren t B
of
D -3 7
u s in e s s
Table 3.11.5. National Defense Consumption Expenditures
and Gross Investment by Type
Table 3.11.6. Real National Defense Consumption Expenditures
and Gross Investment by Type, Chained Dollars
[Billions of dollars]
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
National defense
consumption expenditures
and gross investment.......
Consumption expenditures 1
Gross output of general
government................................
Value a dded...............................
Compensation of general
government employees....
Military................................
Civilian................................
Consumption of general
government fixed ca p ita l2
Intermediate goods and
services purchased 3 ...........
Durable goods.......................
Aircraft................................
Missiles..............................
Ships..................................
Vehicles.............................
Electronics.........................
Other durable goods.........
Nondurable goods................
Petroleum products..........
Ammunition.......................
Other nondurable goods...
Services.................................
Research and
development..................
Installation support...........
Weapons support.............
Personnel support............
Transportation of material
Travel of persons..............
Less: Own-account investment4
Sales to other sectors......
Gross investment5........................
Structures.......................................
Equipment and software...............
A ircraft........................................
Missiles.......................................
S hips...........................................
Vehicles......................................
Electronics and software..........
Other equipment........................
1
2
820.8
712.1
809.1
703.6
806.4
703.5
II
807.8
701.1
834.5
728.1
IV
787.9
681.8
2011
2012
769.7
672.7
2012
I
I
National defense
consumption expenditures
and gross investment........
Consumption expenditures 1........
3
4
718.5
396.4
709.7
402.4
709.6
401.0
707.2
402.1
734.1
403.1
687.8
403.4
678.7
405.4
b
6
7
300.6
202.0
98.5
303.9
204.4
99.5
303.6
204.4
99.3
303.8
204.3
99.5
304.2
204.5
99.7
303.8
204.4
99.4
304.9
205.9
99.0
8
95.8
98.5
97.4
98.3
98.9
99.6
100.5
9
10
11
12
13
14
15
16
17
18
19
20
21
322.1
44.8
17.9
3.7
0.6
2.9
8.9
10.7
33.4
19.4
4.3
9.7
244.0
307.3
43.9
19.3
3.5
0.7
2.5
7.6
10.2
32.7
18.3
4.3
10.2
230.7
308.6
42.4
18.3
3.3
0.6
2.3
7.4
10.5
35.9
22.0
3.9
10.1
230.2
305.1
43.0
18.4
3.2
0.7
2.7
7.9
10.2
31.9
17.7
4.1
10.2
230.2
331.1
45.3
19.8
3.8
0.8
2.6
7.8
10.5
29.8
14.8
4.8
10.2
256.0
284.4
44.9
20.9
3.8
0.7
2.3
7.4
9.8
33.0
18.5
4.3
10.2
206.5
273.3
40.1
18.1
3.6
0.5
1.7
6.3
9.8
32.6
19.7
3.2
9.7
200.7
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
52.9
45.6
33.6
88.7
13.8
9.5
2.6
3.8
49.9
44.1
29.9
90.3
8.5
8.1
2.3
3.8
49.2
44.0
29.8
88.6
9.8
8.8
2.4
3.8
52.0
43.3
28.9
88.9
8.7
8.4
2.3
3.8
51.8
49.1
38.8
100.4
7.9
7.9
2.3
3.8
46.8
39.8
22.0
83.2
7.3
7.4
2.3
3.7
47.0
38.9
19.1
81.7
6.9
7.0
2.2
3.8
Gross output of general
government.................................
Value added................................
Compensation of general
government employees....
M ilitary................................
Civilian................................
Consumption of general
government fixed c a p ita l2
Intermediate goods and
services purchased 3............
Durable goods.......................
Aircraft................................
Missiles...............................
Ships...
Vehicles..............................
Electronics.........................
Other durable goods.........
Nondurable goods................
Petroleum products...........
Ammunition........................
Other nondurable goods...
Services..................................
Research and
development.................
Installation support...........
Weapons support.............
Personnel support............
Transportation of material
Travel of persons...............
Less: Own-account investm ent4
Sales to other sectors.......
108.7
105.6
102.9
106.7
106.4
106.1
97.1
Gross investment5........................
13.5
95.2
20.0
5.6
11.7
7.1
18.4
32.4
8.5
97.1
24.8
6.8
11.9
5.7
17.2
30.6
9.5
93.4
23.0
6.4
10.7
5.3
17.0
31.0
8.3
98.4
25.2
6.6
12.6
6.0
17.5
30.7
7.2
99.2
26.8
6.5
11.6
5.9
17.4
31.1
8.8
97.3
24.1
7.8
12.9
5.7
17.0
29.8
7.7
89.3
24.6
6.0
10.4
3.7
16.0
28.7
Structures...................
Equipment and software...............
Aircraft.........................................
Missiles.......................................
Ships
Vehicles......................................
Electronics and software...........
Other equipment........................
1. National defense consumption expenditures are defense services produced by government that are valued at their
cost of production. Excludes government sales to other sectors and government own-account investment (construction
and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial m easure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and
related expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
Line
2013
III
II
2013
III
IV
I
1
2
699.1
599.0
677.3
580.5
677.6
582.9
677.3
579.8
698.1
600.5
656.0
559.0
636.2
546.9
3
4
604.3
329.3
585.5
326.1
587.9
327.9
584.8
326.5
605.4
325.7
563.9
324.3
551.8
322.8
5
6
7
243.8
162.2
81.6
239.2
157.9
81.4
241.5
159.8
81.8
239.8
158.4
81.5
238.8
157.5
81.3
236.8
156.1
80.8
234.9
154.6
80.3
8
85.8
87.4
86.8
87.1
87.5
88.2
88.7
9
10
11
12
13
14
15
16
17
18
19
20
21
274.8
42.8
17.6
3.5
0.6
2.7
8.7
10.0
22.7
11.0
3.4
8.5
209.5
259.1
41.7
18.9
3.2
0.6
2.3
7.5
9.4
22.1
10.3
3.4
8.8
195.5
259.7
40.4
17.9
3.0
0.5
2.1
7.3
9.8
23.1
11.4
3.1
8.7
196.0
258.0
40.9
17.9
2.9
0.6
2.5
7.7
9.4
22.2
10.5
3.3
8.8
195.0
279.9
42.9
19.3
3.4
0.7
2.4
7.7
9.6
21.0
9.0
3.9
8.8
216.5
238.7
42.7
20.4
3.5
0.6
2.1
7.3
9.0
22.0
10.2
3.4
8.7
174.3
228.0
37.9
17.6
3.3
0.5
1.5
6.1
9.0
21.5
10.6
2.5
8.4
168.4
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
44.8
38.2
29.6
78.4
11.4
7.6
2.1
3.2
41.5
36.8
25.8
78.6
7.0
6.4
1.9
3.1
41.1
36.8
25.9
77.5
8.2
7.0
1.9
3.2
43.3
36.1
24.9
77.6
7.1
6.5
1.9
3.1
43.0
41.0
33.3
87.3
6.6
6.3
1.8
3.1
38.8
33.2
18.9
72.1
6.1
5.8
1.8
3.1
38.7
32.2
16.3
70.5
5.7
5.4
1.8
3.1
100.4
97.0
94.8
97.9
97.7
97.7
89.2
11.2
89.1
18.7
5.0
9.1
6.5
19.8
30.4
-1.9
6.8
90.6
23.5
5.9
9.2
5.1
18.6
28.5
-2.5
7.8
87.2
21.9
5.5
8.2
4.8
18.3
28.9
-1.4
6.7
91.5
23.8
5.6
9.6
5.3
18.8
28.6
-2.2
5.8
92.5
25.4
5.5
9.0
5.2
18.8
28.9
-4.2
7.0
91.0
23.0
6.8
10.0
4.9
18.4
27.8
-2.2
6.1
83.5
23.7
5.2
8.0
3.2
17.3
26.6
-0.9
1. National defense consumption expenditures are defense services produced by government that are valued at their
cost of production. Excludes government sales to other sectors and government own-account investment (construction
and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial m easure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and
related expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
N o t e . Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is
the difference between the first line and the sum of the most detailed lines.
National Data
D-38
May 2013
4. Foreign Transaction s
Table 4.1. Foreign Transactions in the National Income and Product Accounts
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Current receipts from the rest of the world...............................................................
Exports of goods and services............................................................................................
Goods 1....................
Durable................
Nondurable..........
Services 1...............
Income receipts........
Wage and salary receipts
Income receipts on assets
Reinvested earnings on U.S. direct investment abroad.....................................................
Current payments to the rest of the world.................................................................
Goods 1.........................................................................................................................................
Durable....
Nondurable
Services 1...
Income payments
Wage and salary payments........................................................................................................
Income payments on assets
Interest.............................
Dividends.........................
Reinvested earnings on foreign direct investment in the United States..........................
Current taxes and transfer payments to the rest of the world (net)................................
From persons (net).......................................................................................................................
From government (net)................................................................................................................
From business (net)
Balance on current account, NIPAs...........................................................................
Addenda:
Less: Capital account transactions (n e t)2...........................................................................
II
2013
III
IV
1
2,927.5
2,877.9
2,966.3
2,963.6
2,974.5
2,999.6
2,157.9
2
2,094.2
2,184.0
2,198.7
2,188.5
2,191.1
1,474.5
3
1,542.8
1,525.8
1,550.5
1,555.1
1,539.8
4
947.1
898.1
948.5
951.3
949.8
938.7
595.7
577.3
599.2
605.4
5
576.3
601.1
619.7
641.2
632.1
6
637.9
643.5
651.3
7
769.6
783.7
782.3
775.1
775.8
808.5
8
5.8
6.0
5.9
6.0
5.9
6.0
763.7
9
777.9
776.3
769.2
769.8
802.5
10
132.7
124.1
121.1
132.2
126.3
127.6
11
262.0
260.6
262.2
264.4
257.2
258.6
12
389.4
369.3
424.1
383.2
383.0
381.3
13
3.480.7
3,408.2
3,343.7
3,440.4
3,448.5
3,424.0
14
2.773.7
2,662.3and services............................................................................................
2,744.0
2,765.4
2,715.5
Imports
of goods
2,721.3
15
2,229.2
2,291.9
2,324.3
2,312.4
2,260.6
2,270.3
16
1,231.8
1,320.0
1,316.6
1,329.8
1,314.0
1,319.6
17
997.4
971.9
1,007.7
982.6
946.6
950.7
18
433.0
452.1
449.3
454.9
453.0
451.0
554.7
532.7
19
531.8
539.3
527.8
541.8
13.4
20
13.8
13.5
13.6
13.4
13.5
21
518.0
541.2
519.1
525.8
514.3
528.4
??
312.7
311.7
305.8
309.3
301.8
299.5
?3
118.8
124.5
117.0
133.3
122.4
125.4
24
111.6
71.7
87.5
95.5
95.0
103.5
25
149.6
157.1
152.3
155.4
160.0
160.8
26
76.4
75.5
76.4
76.6
77.1
73.9
27
57.4
55.7
55.5
54.3
54.6
49.4
20.2
26.5
19.3
24.4
27.8
28
34.3
-474.1
-553.2
-433.7
29
-465.8
-485.0
-424.4
30
31
32
-467.4
-465.8
1.7
-467.3
-474.1
-6.7
-553.6
-553.2
0.5
-485.4
-485.0
0.5
-434.2
-433.7
0.5
I
2,215.0
1,558.1
953.7
604.4
656.9
2,764.9
2,304.9
1,343.2
961.7
460.0
164.0
77.0
54.1
32.9
-396.1
-424.4
-28.3
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the federal government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassi
fied from goods to services.
2. Consists of capital transfers and the acquisition and disposal of nonproduced nonfinancial assets. Prior to 1982, reflects only capital grants paid to the U.S. territories and the Commonwealths of Puerto Rico and
Northern Mariana Islands.
May 2013
S urvey
C urren t B
of
Table 4.2.1. Percent Change From Preceding Period in Real Exports and in
Real Imports of Goods and Services by Type of Product
D-39
u s in e s s
Table 4.2.2. Contributions to Percent Change in Real Exports and in
Real Imports of Goods and Services by Type of Product
[Percent]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Exports o f goods and
se rvice s.................................
E xports o f goods 1..........................
Foods, feeds, and beverages........
Industrial supplies and materials
Durable goods............................
Nondurable goods.....................
Capital goods, except automotive
Civilian aircraft, engines, and
parts........................................
Computers, peripherals, and
parts........................................
O ther...........................................
Automotive vehicles, engines, and
parts............................................
Consumer goods, except
automotive..................................
Durable goods............................
Nondurable goods.....................
O ther...............................................
Exports o f services 1 ......................
Transfers under U.S. military
agency sales contracts.............
Travel...............................................
Passenger fares..............................
Other transportation......................
Royalties and license fees............
Other private services...................
O th er...............................................
Im ports o f goods and
se rvices.................................
Im ports of goods 1..........................
Foods, feeds, and beverages........
Industrial supplies and materials,
except petroleum and products
Durable goods...........................
Nondurable goods.....................
Petroleum and products...............
Capital goods, except automotive
Civilian aircraft, engines, and
p arts.......................................
Computers, peripherals, and
p arts.......................................
O ther...........................................
Automotive vehicles, engines, and
parts............................................
Consumer goods, except
automotive..................................
Durable goods...........................
Nondurable goods.....................
O th er...............................................
Im ports o f services 1.......................
Direct defense expenditures.........
Travel...............................................
Passenger fares..............................
Other transportation......................
Royalties and license fees............
Other private services...................
O th er...............................................
Addenda:
Exports of durable goods.............
Exports of nondurable goods.......
Exports of agricultural goods 2....
Exports of nonagricultural goods
Imports of durable goods..............
Imports of nondurable goods........
Imports of nonpetroleum g oods...
IV
2012
2012
I
3.4
4.2
4.4
4.0
5.3
7.0
1.9
1.1
-2.8
-5.0
2.9
3.5
-0.5
6.4
3.5
7.8
9.3
0.8
2.1
-0.1
3.1
5.9
-10.2
-6.3
7.9
-11.6
12.5
32.1
9.1
0.2
13.1
-0.8
13.5
-6.3
-8.4
-5.4
7.6
-35.2
0.7
-12.3
6.5
-9.1
4.3
7.1
14.2
4.4
1.8
8
7.5
14.1
35.0
-23.9
63.0
-12.0
-1.8
9
10
16.6
8.8
1.4
4.7
13.9
7.5
-S.2
6.7
-10.2
-0.3
-7.9
-8.5
6.8
2.2
11
16.9
8.0
24.3
9.3
-10.0
-5.5
7.8
12
13
14
15
16
4.5
9.6
-1.2
0.5
2.2
0.1
4.8
11.4
-7.0
-0.9
-14.2
51.4
13.7
-0.1
33.6
-9.1
-1.3
-8.9
8.6
14.1
1.1
3.6
-1.7
63.1
2.4
22.6
-17.7
-12.9
5.6
1.5
5.2
1.1
4.0
2.5
1.5
17
18
19
20
21
22
23
25.9
6.8
6.5
-1.1
10.1
2.9
8.4
1.7
5.0
1.9
-1.3
1.6
0.0
5.2
-18.0
17.9
17.9
-1.2
4.8
1.0
5.5
-15.6
2.9
-8.1
-2.3
6.0
1.0
3.9
38.4
3.1
6.3
-4.2
4.0
4.2
-4.1
48.0
-3.0
6.3
-2.1
1.6
3.5
0.3
-9.2
-0.4
6.9
1.5
1.6
2.8
-5.0
24
25
26
4.8
5.2
2.4
2.1
3.1
2.0
2.8
2.9
-0.6
-1.2
-4.2
-3.9
5.4
5.2
2.0
3.9
-2.9
-5.0
8.3
3.7
13.2
27
28
29
30
31
6.5
8.9
4.2
-1.9
13.7
2.9
5.4
0.2
-8.2
7.1
12.3
43.6
-14.0
-21.7
11.5
0.3
-3.8
5.2
-3.0
7.5
4.5
-13.7
27.8
-5.1
-8.8
-12.3
-3.3
-20.6
-7.6
1.1
8.5
29.8
-10.8
-10.7
6.5
32
9.5
6.5
-46.9
27.6
8.9
67.3
-32.1
33
34
7.3
16.6
4.0
8.1
16.5
18.5
-2.5
9.1
-32.2
-1.9
38.3
-13.1
14.6
9.3
35
9.8
14.8
36.0
4.3
7.8
-11.9
-4.1
36
37
38
39
40
41
42
43
44
45
46
47
4.5
3.8
5.3
-13.5
-1.1
1.0
-3.3
7.4
-7.3
-9.1
-5.2
33.8
6.2
7.2
5.0
1.6
-0.1
1.9
-2.3
1.0
6.4
21.1
-8.5
-24.4
12.3
5.1
21.4
61.8
2.8
4.2
9.0
2.3
2.6
-5.6
6.0
-10.8
1.5
6.4
1.7
6.9
5.1
-4.9
-3.8
5.3
2.9
3.8
12.6
4.0
-3.6
3.2
22.1
24.6
8.2
10.9
3.8
-17.4
8.2
3.8
-0.7
-5.2
6.7
2.9
1.3
-7.6
-11.7
-9.4
0.3
52.2
4.5
5.0
-21.8
-14.2
-16.0
0.7
-26.4
5.8
0.5
-10.8
11.6
20.8
21.5
2.1
1.4
-8.8
48
49
50
51
52
53
54
9.1
4.1
-1.5
8.1
8.9
0.6
7.0
4.8
3.3
2.2
4.4
7.1
-4.0
4.9
13.1
-9.0
-2.5
4.7
15.5
-13.1
9.2
0.7
18.2
26.8
5.2
5.1
0.0
4.4
0.6
1.7
14.2
-0.3
-3.3
1.7
-0.3
-5.7
-3.9
-35.9
-0.8
0.4
-9.5
-3.0
5.8
-0.1
8.6
3.0
7.6
2.1
9.1
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the federal government,
are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to
services.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable
nonautomotive consumer goods.
2011
I
6.7
7.2
1
2
3
4
5
6
7
Line
2013
III
II
Seasonally adjusted at annual rates
Percent change at annual rate:
Exports of goods and
services...............................
Percentage points at annual rates:
Exports of goods 1........................
Foods, feeds, and beverages........
Industrial supplies and materials
Durable goods............................
Nondurable g oods.....................
Capital goods, except automotive
Civilian aircraft, engines, and
p arts........................................
Computers, peripherals, and
p arts........................................
Other............................................
Automotive vehicles, engines, and
parts.............................................
Consumer goods, except
automotive..................................
Durable goods............................
Nondurable goods.....................
Other................................................
II
1
6.7
3.4
2
3
4
5
6
7
5.00
-0.03
1.42
0.24
1.18
2.20
8
0.29
0.54
1.26
9
10
0.37
1.54
0.03
0.82
0.31
1.30
2013
IV
III
4.4
5.3
2.97
2.89
4.92
0.03
0.50
0.00
0.51
1.40
-0.62
-1.47
0.52
-1.99
2.87
1.67
2.02
0.02
2.00
-0.16
-1.13
-0.20
1.17
I
-2.8
2.9
0.77
-3.57
2.44
0.83
-1.43
-0.56
-0.86
1.78
-2.80
0.17
-0.81
0.98
-2.28
0.27
1.51
0.83
0.68
0.44
2.08
-0.57
-0.08
-0.24
-0.06
-0.18
-1.54
0.14
0.38
1.9
11
1.00
0.51
1.45
0.62
-0.71
-0.37
0.50
0.39
0.44
-0.05
0.02
0.18
0.00
0.18
0.34
-0.60
-0.04
-0.56
1.26
1.08
0.00
1.08
-0.30
-0.11
-0.42
0.31
0.41
0.09
0.16
-0.07
1.62
0.20
0.94
-0.73
-0.48
Exports of services 1.....................
12
13
14
15
16
1.68
0.44
1.49
0.33
1.15
0.74
0.45
Transfers under U.S. military
agency sales contracts.............
Travel................................................
Passenger fares..............................
Other transportation.......................
Royalties and license fe e s............
Other private services....................
Other................................................
17
18
19
20
21
22
23
0.18
0.38
0.11
-0.02
0.57
0.40
0.07
0.01
0.28
0.03
-0.03
0.10
0.00
0.04
-0.15
0.93
0.30
-0.02
0.27
0.13
0.04
-0.12
0.16
-0.15
-0.05
0.34
0.12
0.03
0.24
0.17
0.11
-0.08
0.23
0.52
-0.03
0.32
-0.17
0.11
-0.04
0.09
0.44
0.00
-0.08
-0.02
0.12
0.03
0.09
0.35
-0.04
24
4.8
2.4
3.1
2.8
-0.6
-4.2
5.4
25
26
4.30
1.76
1.68
2.40
-1.03
-3.21
4.39
0.08
0.16
-0.12
-0.21
0.32
0.15
0.52
27
28
29
30
31
0.70
0.47
0.22
-0.32
2.53
0.30
0.30
0.01
-1.48
1.35
1.24
2.00
-0.76
-4.24
2.15
0.04
-0.22
0.25
-0.51
1.46
0.47
-0.80
1.27
-0.80
-1.85
-1.38
-0.18
-1.20
-1.18
0.24
0.88
1.46
-0.57
-1.71
1.29
32
0.12
0.09
-0.89
0.33
0.12
0.80
-0.61
33
34
0.34
2.06
0.18
1.08
0.69
2.35
-0.11
1.24
-1.69
-0.28
1.41
-1.97
0.63
1.27
35
0.91
1.41
3.18
0.45
0.83
-1.39
-0.45
36
37
38
39
40
41
42
43
44
45
46
47
0.90
0.41
0.50
-0.50
-0.21
0.10
-0.31
0.22
-1.43
-0.95
-0.47
0.89
1.12
0.69
0.43
0.05
-0.02
0.19
-0.21
0.03
1.21
1.98
-0.77
-0.87
2.31
0.55
1.76
1.55
Percent change at annual rate:
Imports of goods and
services...............................
Percentage points at annual rates:
Imports of goods 1.........................
Foods, feeds, and beverages........
Industrial supplies and materials,
except petroleum and products
Durable goods............................
Nondurable g oods.....................
Petroleum and products.................
Capital goods, except automotive
Civilian aircraft, engines, and
p a rts .......................................
Computers, peripherals, and
p a rts.......................................
Other............................................
Automotive vehicles, engines, and
parts.............................................
Consumer goods, except
automotive..................................
Durable g oods...........................
Nondurable goods.....................
Other................................................
Imports of services 1.....................
Direct defense expenditures.........
Travel................................................
Passenger fares..............................
Other transportation.......................
Royalties and license fe e s ............
Other private services....................
Other................................................
0.47
0.68
1.41
0.38
0.42
-0.96
0.97
-0.14
0.05
0.07
0.04
0.10
0.38
-0.02
-0.03
0.15
0.03
0.08
0.17
0.29
-0.01
0.03
0.60
0.27
0.16
0.15
0.27
-0.07
0.08
0.11
-0.01
-0.11
0.09
0.20
0.00
-0.08
-0.38
-0.12
0.01
0.66
0.32
0.02
-0.24
-0.45
-0.21
0.01
-0.49
0.42
0.00
-0.11
0.33
0.24
0.41
0.03
0.11
-0.03
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.
National Data
D-40
May 2013
Table 4.2.3. Real Exports and Imports of Goods and Services
by Type of Product, Quantity Indexes
Table 4.2.4. Price Indexes for Exports and Imports
of Goods and Services by Type of Product
[Index numbers, 2005=100]
[Index numbers, 2005=100]
Seasonally adjusted
Line
2011
2012
2012
I
Exports of goods and
services............................
Exports of goods 1.....................
Foods, feeds, and beverages....
Industrial supplies and
materials..................................
Durable goods........................
Nondurable goods..................
Capital goods, except
automotive...............................
Civilian aircraft, engines, and
parts....................................
Computers, peripherals, and
parts....................................
O ther........................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive...............................
Durable goods........................
Nondurable goods..................
O th er............................................
II
Seasonally adjusted
Line
2013
III
IV
1 136.152 140.785 139.356 141.152 141.824 140.808 141.814
2 137.695 143.514 141.961 144.389 144.774 142.930 144.157
3 131.176 132.177 126.742 135.876 140.245 125.845 127.189
Exports of goods and
services..........................
Exports of goods 1 ....................
145.039
156.650
132.417
126.281
Exports of services 1.................
12
13
14
15
16
132.793 134.720 133.573 133.940 135.259 136.109 136.620
Transfers under U.S. military
agency sales contracts..........
Travel............................................
Passenger fares..........................
Other transportation...................
Royalties and license fees.........
Other private services...............
O th er............................................
17
18
19
20
21
22
23
81.354
121.090
128.976
86.451
164.527
146.693
104.312
Imports of goods and
services............................
Imports of goods 1.....................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products............................
Durable goods........................
Nondurable goods..................
Petroleum and products............
Capital goods, except
automotive...............................
Civilian aircraft, engines, and
parts....................................
Computers, peripherals, and
parts....................................
O ther........................................
Automotive vehicles, engines,
and p arts.................................
Consumer goods, except
automotive...............................
Durable goods........................
Nondurable goods..................
O ther............................................
Imports of services 1..................
Direct defense expenditures......
Travel............................................
Passenger fares..........................
Other transportation...................
Royalties and license fees.........
Other private services...............
O th er............................................
7 136.318 144.393 144.132 143.856 146.521 143.063 143.716
8 112.638 128.466 128.111 119.646 135.180 130.926 130.347
9 152.691 154.875 160.271 156.898 152.729 149.601 152.076
10 140.555 147.185 146.266 148.663 148.536 145.274 146.054
11 127.012 137.119 137.111 140.201 136.539 134.624 137.171
142.984
149.647
135.696
118.238
82.758
127.087
131.481
85.312
167.210
146.678
109.785
139.704
151.078
127.263
114.628
79.871
126.169
132.033
86.255
164.407
145.349
109.547
144.258
151.052
136.819
111.914
76.546
127.066
129.291
85.752
166.826
145.696
110.613
143.791
147.574
139.655
115.678
83.031
128.037
131.284
84.848
168.475
147.198
109.450
144.184
148.884
139.044
130.732
91.586
127.074
133.316
84.392
169.134
148.468
109.530
89.410
126.937
135.543
84.701
169.802
149.479
108.146
24 107.746 110.369 110.179 110.936 110.766 109.593 111.033
25 106.561 108.793 108.652 109.422 109.084 108.012 109.401
26 106.026 110.204 109.923 108.510 110.687 111.697 115.214
27
28
29
30
86.184
79.718
93.607
88.605
88.661
84.047
93.764
81.358
88.840
86.393
91.335
82.754
88.908
85.558
92.510
82.125
89.899
82.466
98.359
81.067
86.994
81.770
92.850
79.488
88.779
87.279
90.244
77.273
31 139.235 149.131 148.726 151.427 147.985 148.389 150.729
32 105.732 112.617 102.769 109.227 111.572 126.898 115.208
33 176.179 183.225 189.221 188.037 170.612 185.031 191.424
34 132.194 142.957 142.220 145.342 144.633 139.635 142.789
2013
III
IV
I
1 117.860 118.871 118.652 118.802 118.792 119.237 119.680
2 118.182 118.642 118.617 118.511 118.549 118.892 119.282
3 163.210 173.845 162.994 168.336 181.600 182.449 181.783
4 141.746 138.289 141.330 138.891 136.106 136.829 137.698
5 130.110 127.245 128.983 127.461 125.275 127.263 126.186
6 147.532 143.795 147.449 144.572 141.501 141.658 143.395
7 100.949 101.781 101.601 101.846 101.746 101.933 102.528
8 127.364 131.038 129.927 130.642 131.677 131.905 132.308
9 69.612 69.950 71.019 70.406 69.474 68.900 68.787
10 100.949 101.344 101.104 101.423 101.267 101.583 102.343
11 106.503 108.433 108.124 108.756 108.529 108.325 108.897
Exports of services 1.................
12
13
14
15
16
116.972 119.298 118.609 119.385 119.255 119.945 120.515
Transfers under U.S. military
agency sales contracts.........
Travel............................................
Passenger fares.........................
Other transportation...................
Royalties and license fe e s........
Other private services...............
Other............................................
17
18
19
20
21
22
23
111.375
117.229
135.441
120.666
114.055
115.083
127.648
Imports of goods and
services..........................
Imports of goods 1.....................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products..........................
Durable g oods.......................
Nondurable g oods................
Petroleum and products............
Capital goods, except
automotive..............................
Civilian aircraft, engines, and
p a rts ...................................
Computers, peripherals, and
p a rts...................................
Other.......................................
35
98.048 112.560 111.513 112.680 114.814 111.232 110.083
36
37
38
39
40
41
42
43
44
45
46
47
118.922 117.646 115.892 117.636 117.604 119.451 122.958
118.895 120.060 116.786 118.837 119.388 125.230 126.792
118.965 114.996 114.911 116.316 115.642 113.113 118.738
73.841 79.313 80.346 80.658 80.858 75.389 85.031
and parts.................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable goods................
Other............................................
114.630 119.410 118.950 119.637 120.394 118.658 120.386
Imports of services 1.................
78.323 75.351 76.110 77.627 76.104 71.564 69.550
94.453 99.412 101.199 102.140 99.010 95.298 97.943
81.066 83.456 85.503 85.346 83.262 79.713 83.575
81.212 84.286 85.065 83.937 83.998 84.142 88.332
130.442 146.906 140.224 142.512 158.293 146.595 147.359
168.301 175.095 172.595 173.824 175.732 178.227 178.854
87.699 84.553 83.813 84.079 85.105 85.215 83.267
Direct defense expenditures....
Travel............................................
Passenger fares.........................
Other transportation...................
Royalties and license fe e s ........
Other private services...............
Other............................................
108.435
104.771
112.797
123.983
110.059
106.691
114.008
124.535
112.449
120.326
140.612
123.415
116.023
117.281
123.397
109.508
105.996
113.662
124.435
111.980
119.692
140.635
122.582
115.535
116.228
125.747
110.072
106.876
113.799
124.369
112.484
120.247
144.236
124.070
115.743
117.055
124.484
110.220
107.049
113.916
124.462
112.679
120.444
139.342
122.905
116.177
117.331
122.289
110.436
106.844
114.656
124.872
112.654
120.921
138.235
124.102
116.636
118.512
121.068
109.494
105.511
114.232
125.300
113.169
121.276
141.228
124.367
116.964
119.211
118.753
24 121.851 122.618 124.156 122.942 120.907 122.465 122.810
25 122.482 123.356 125.262 123.743 121.346 123.074 123.364
26 149.924 148.133 149.708 149.192 147.104 146.529 146.231
27
28
29
30
127.845
138.316
117.618
207.160
122.714
131.300
114.261
213.001
122.888
133.649
112.330
229.426
122.862
131.315
114.561
215.670
121.200
128.811
113.688
197.693
123.906
131.425
116.464
209.215
124.795
131.905
117.748
211.248
31
96.839
96.959
97.215
97.005
96.918
96.698
96.656
32 130.566 137.398 136.367 136.919 137.996 138.310 139.064
33 72.819 71.352 71.606 71.214 71.511 71.077 70.898
34 103.523 103.900 104.243 104.069 103.726 103.561 103.516
35 108.709 110.767 110.152 110.695 110.773 111.447 111.498
36
37
38
39
40
41
42
43
44
45
46
47
105.719
102.674
109.345
119.392
107.315
103.301
112.107
120.182
107.392
103.791
111.678
119.792
107.407
103.418
112.164
120.330
107.048
102.897
112.005
119.984
107.414
103.099
112.579
120.622
107.313
102.694
112.874
120.815
118.126 118.376 118.117 118.399 118.133 118.855 119.468
125.277
120.733
146.754
108.769
114.062
116.608
116.536
120.924
120.387
156.408
107.966
116.015
116.457
117.512
122.055
120.228
158.549
106.193
115.527
116.170
116.942
119.876
120.024
156.783
108.591
115.735
116.615
117.364
118.464
120.012
153.356
108.763
116.169
116.503
117.504
123.301
121.284
156.944
108.316
116.628
116.540
118.237
124.871
121.793
162.755
107.775
116.956
116.868
118.544
Addenda:
48 134.604 141.108 141.336 141.566 141.794 139.736 141.735
49 143.307 147.965 143.431 149.544 150.189 148.697 148.648
50 130.492 133.334 128.838 136.729 141.332 126.437 129.063
51 138.386 144.535 143.284 145.112 145.010 144.731 145.789
52 113.294 121.389 120.737 122.251 121.226 121.340 123.572
53 97.590 93.723 94.113 94.102 94.499 92.176 92.655
54 110.479 115.922 115.262 116.505 116.407 115.514 118.068
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.
2012
II
Autom otive vehicles, engines,
Addenda:
Exports of durable g oods..........
Exports of nondurable g oods....
Exports of agricultural goods 2
Exports of nonagricultural
goods........................................
Imports of durable goods...........
Imports of nondurable goods....
Imports of nonpetroleum goods
2012
I
Foods, feeds, and beverages....
Industrial supplies and
materials.................................
Durable g oods.......................
Nondurable g oods................
Capital goods, except
automotive..............................
Civilian aircraft, engines, and
p a rts...................................
Computers, peripherals, and
p arts...................................
Other.......................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable g oods................
Other............................................
4 150.217 153.406 152.067 155.426 152.926 153.204 155.843
5 133.969 133.829 136.337 136.404 133.441 129.134 133.478
6 159.130 163.986 160.720 165.731 163.450 166.041 167.835
139.956
149.539
129.460
106.161
2011
I
Exports of durable goods..........
Exports of nondurable goods....
Exports of agricultural goods 2
Exports of nonagricultural
goods......................................
Imports of durable goods..........
Imports of nondurable goods....
Imports of nonpetroleum goods
48 106.785 107.420 107.410 107.549 107.203 107.518 107.692
49 143.004 143.116 143.068 142.434 143.280 143.683 144.530
50 165.369 170.563 161.608 165.468 177.177 177.998 178.427
51
52
53
54
114.634
106.040
149.721
109.835
114.758
106.058
151.909
109.914
115.385
106.355
156.853
110.002
114.996
106.093
152.958
110.018
114.171
105.720
146.734
109.559
114.481
106.064
151.091
110.077
114.867
106.014
152.046
110.158
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.
May 2 0 1 3
S u rvey
D -4 1
C u r r e n t B u s in e s s
of
Table 4.2.5. Exports and Imports of Goods and Services
by Type of Product
Table 4.2.6. Real Exports and Imports of Goods and Services
by Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2011
2012
2012
1
Exports o f goods and
se rvice s..............................
E xports o f goods 1.......................
Foods, feeds, and beverages....
Industrial supplies and
materials..................................
Durable goods........................
Nondurable goods..................
Capital goods, except
automotive...............................
Civilian aircraft, engines, and
p arts....................................
Computers, peripherals, and
p arts....................................
O th er.......................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive...............................
Durable goods........................
Nondurable goods..................
O th er............................................
Exports o f services 1 ...................
Transfers under U.S. military
agency sales contracts..........
Travel............................................
Passenger fares..........................
Other transportation..................
Royalties and license fees.........
Other private services...............
O th e r............................................
Im ports o f goods and
se rvice s.............................
Im ports o f goods 1.......................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products...........................
Durable goods........................
Nondurable goods.................
Petroleum and products............
Capital goods, except
automotive..............................
Civilian aircraft, engines, and
parts....................................
Computers, peripherals, and
parts....................................
O ther.......................................
Automotive vehicles, engines,
and p arts................................
Consumer goods, except
automotive..............................
Durable goods........................
Nondurable goods.................
O th er...........................................
Im ports o f services 1...................
Direct defense expenditures.....
Travel...........................................
Passenger fares..........................
Other transportation..................
Royalties and license fees........
Other private services...............
O th er............................................
Addenda:
Exports of durable g oods..........
Exports of nondurable goods
Exports of agricultural goods 2
Exports of nonagricultural
goods.......................................
Imports of durable goods...........
Imports of nondurable goods....
Imports of nonpetroleum goods
II
2013
III
IV
1 2,094.2 2,184.0 2,157.9 2,188.5 2,198.7 2,191.1 2,215.0
2 1,474.5 1,542.8 1,525.8 1,550.5 1,555.1 1,539.8 1,558.1
126.2
3
135.6
121.9
134.9
150.3
136.4
135.5
4
5
6
484.4
143.3
341.2
482.8
140.0
342.8
489.1
144.5
344.6
491.3
142.9
348.4
473.7
137.4
336.3
477.1
135.1
342.0
488.4
138.4
349.9
7
493.2
526.7
524.8
525.1
534.3
522.6
528.1
8
80.2
94.0
93.0
87.3
99.4
96.5
96.3
9
10
48.4
364.7
49.4
383.3
51.8
380.0
50.3
387.5
48.3
386.6
46.9
379.2
47.6
384.1
11
133.1
146.3
145.9
150.0
145.8
143.5
147.0
12
13
14
15
16
175.0
97.3
77.7
62.5
181.4
99.1
82.3
70.0
176.4
99.4
76.9
67.8
183.1
100.2
82.8
66.1
182.7
98.1
84.6
68.4
183.6
98.8
84.8
77.6
183.1
102.6
80.5
75.2
619.7
641.2
632.1
637.9
643.5
651.3
656.9
17
18
19
20
21
22
23
16.4
116.1
36.6
43.1
120.8
270.2
16.5
16.8
125.1
38.8
43.5
124.9
275.4
16.8
16.2
123.5
38.9
43.6
122.3
270.4
17.1
15.6
125.0
39.1
43.9
124.3
273.0
17.1
16.9
126.1
38.4
43.0
126.0
276.4
16.6
18.7
125.7
38.6
43.2
127.0
281.6
16.4
18.3
125.9
40.1
43.5
127.9
285.2
15.9
24
25
26
2,662.3 2,744.0 2,773.7 2,765.4 2,715.5 2,721.3 2,764.9
2,229.2 2,291.9 2,324.3 2,312.4 2,260.6 2,270.3 2,304.9
111.4
114.7
27
28
29
30
293.1
150.0
143.1
462.3
289.3
150.1
139.2
436.7
290.4
157.0
133.3
478.2
290.5
152.8
137.7
446.1
289.8
144.5
145.3
403.6
286.7
146.2
140.5
418.8
294.7
156.6
138.1
411.1
31
513.4
550.6
550.5
559.3
546.1
546.3
554.7
32
35.5
39.8
36.0
38.5
39.6
45.1
41.2
33
34
119.7
358.1
122.1
388.7
126.5
387.9
125.0
395.8
113.9
392.6
122.8
378.4
126.7
386.8
35
255.2
298.5
294.1
298.6
304.5
296.8
293.9
36
37
38
39
40
41
42
43
44
45
46
47
517.4
273.5
243.9
79.6
519.6
277.8
241.8
86.1
512.2
271.5
240.7
86.9
520.0
275.3
244.7
87.6
518.1
275.2
242.9
87.6
528.1
289.2
238.8
82.1
543.0
291.7
251.4
92.7
433.0
452.1
449.3
453.0
454.9
451.0
460.0
29.5
78.7
31.1
54.7
36.6
192.0
10.5
27.4
82.5
34.1
56.4
42.0
199.5
10.2
27.9
83.9
35.5
56.0
39.9
196.1
10.0
28.0
84.6
35.0
56.5
40.6
198.3
10.1
27.1
82.0
33.4
56.6
45.3
200.3
10.3
26.5
79.7
32.7
56.5
42.1
203.2
10.3
26.1
82.3
35.6
59.0
42.4
204.5
10.1
48
49
50
898.1
576.3
140.0
947.1
595.7
147.7
948.5
577.3
135.2
951.3
599.2
146.9
949.8
605.4
162.6
938.7
601.1
146.1
953.7
604.4
149.5
51
52
53
54
1,334.5
1,231.8
997.4
1,766.9
1,395.1
1,320.0
971.9
1,855.2
1,390.6
1,316.6
1,007.7
1,846.1
1,403.6
1,329.8
982.6
1,866.3
1,392.6
1,314.0
946.6
1,857.0
1,393.7
1,319.6
950.7
1,851.4
1,408.6
1,343.2
961.7
1,893.8
108.2
111.2
112.1
110.2
110.9
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the federal government,
are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to
services.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable
nonautomotive consumer goods.
Line
2011
2012
I
2012
I
Exports o f g oods and
s e rvice s ............................
Exports o f goods 1 ......................
Foods, feeds, and beverages....
Industrial supplies and
materials.................................
Durable goods.......................
Nondurable g oods................
Capital goods, except
automotive..............................
Civilian aircraft, engines, and
p a rts...................................
Computers, peripherals, and
parts 2.................................
Other.......................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable goods................
Other............................................
Exports o f services 1...................
Transfers under U.S. military
agency sales contracts.........
Travel............................................
Passenger fares.........................
Other transportation...................
Royalties and license fe e s.......
Other private services...............
Other............................................
Residual...........................................
Im ports o f goods and
se rv ic e s ............................
Im ports o f goods 1.......................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products..........................
Durable goods.......................
Nondurable g oods................
Petroleum and products............
Capital goods, except
automotive..............................
Civilian aircraft, engines, and
p a rts...................................
Computers, peripherals, and
parts 2.................................
Other........................................
Automotive vehicles, engines,
and parts.................................
Consumer goods, except
automotive..............................
Durable goods.......................
Nondurable goods................
Other............................................
Im ports o f services 1...................
Direct defense expenditures....
Travel............................................
Passenger fares.........................
Other transportation...................
Royalties and license fe e s........
Other private services...............
Other............................................
Residual...........................................
Addenda:
Exports of durable goods..........
Exports of nondurable goods....
Exports of agricultural goods 3
Exports of nonagricultural
goods......................................
Imports of durable goods..........
Imports of nondurable goods....
Imports of nonpetroleum goods
1 1,776.9
2 1,247.6
3
77.3
II
2013
III
IV
I
1,837.3 1,818.7 1,842.1 1,850.9 1,837.6 1,850.8
1,300.4 1,286.3 1,308.3 1,311.8 1,295.1 1,306.2
77.9
74.7
80.1
82.7
74.2
75.0
4
5
6
341.8
110.1
231.2
349.0
110.0
238.3
346.0
112.1
233.6
353.6
112.1
240.8
347.9
109.7
237.5
348.6
106.1
241.3
354.6
109.7
243.9
7
488.6
517.5
516.6
515.6
525.2
512.8
515.1
8
63.0
71.8
71.6
66.9
75.6
73.2
72.8
q
10
361.2
378.3
375.9
382.1
381.7
373.4
375.4
11
125.0
134.9
134.9
138.0
134.4
132.5
135.0
12
13
14
15
16
161.3
92.8
68.9
50.4
164.8
92.9
72.2
56.2
161.1
93.8
67.7
54.5
166.3
93.8
72.8
53.2
165.8
91.6
74.3
55.0
166.2
92.4
74.0
62.1
167.2
97.3
70.4
60.0
529.8
537.5
532.9
534.4
539.6
543.0
545.1
17
18
19
20
21
22
23
24
14.7
99.1
27.0
35.7
105.9
234.8
12.9
-2.6
15.0
104.0
27.6
35.2
107.7
234.8
13.6
-3.6
14.5
103.2
27.7
35.6
105.9
232.6
13.6
-6.2
13.9
103.9
27.1
35.4
107.4
233.2
13.7
-3.7
15.0
104.7
27.5
35.0
108.5
235.6
13.6
-1.0
16.6
103.9
28.0
34.8
108.9
237.6
13.6
-3.1
16.2
103.8
28.4
35.0
109.3
239.2
13.4
-3.3
25
26
27
2,184.9 2,238.0 2,234.2 2,249.6 2,246.1
1,820.0 1,858.2 1,855.8 1,868.9 1,863.1
2,222.3 2,251.5
1,844.8 1,868.6
72.2
75.0
74.9
73.9
75.4
76.1
78.5
28
29
30
31
229.3
108.4
121.7
223.2
235.9
114.3
121.9
204.9
236.3
117.5
118.8
208.4
236.5
116.4
120.3
206.8
239.2
112.2
127.9
204.2
231.4
111.2
120.7
200.2
236.2
118.7
117.3
194.6
32
530.1
567.8
566.3
576.5
563.4
565.0
573.9
33
27.2
29.0
26.5
28.1
28.7
32.7
29.7
34
35
345.9
374.1
372.2
380.3
378.5
365.4
373.7
36
234.8
269.5
267.0
269.8
274.9
266.3
263.6
37
38
39
40
41
42
43
44
45
46
47
48
49
489.4
266.3
223.1
66.7
484.2
269.0
215.6
71.6
476.9
261.6
215.5
72.5
484.1
266.2
218.1
72.8
484.0
267.4
216.9
73.0
491.6
280.5
212.1
68.1
506.0
284.0
222.7
76.8
366.6
381.9
380.4
382.6
385.0
379.5
385.0
23.6
65.1
21.2
50.3
32.1
164.6
9.0
-34.9
22.7
68.6
21.8
52.2
36.2
171.3
8.7
-59.4
22.9
69.8
22.4
52.7
34.5
168.8
8.6
-57.0
23.3
70.4
22.3
52.0
35.1
170.0
8.6
-60.3
22.9
68.3
21.8
52.0
39.0
171.9
8.7
-56.8
21.5
65.7
20.8
52.1
36.1
174.3
8.7
-62.9
20.9
67.6
21.9
54.7
36.3
175.0
8.5
-71.6
50
51
52
841.1
403.0
84.7
881.7
416.1
86.5
883.2
403.4
83.6
884.6
420.6
88.7
886.0
422.4
91.7
873.2
418.2
82.0
885.6
418.0
83.7
53
54
55
56
1,164.1
1,161.7
666.2
1,608.7
1,215.8
1,244.7
639.8
1,688.0
1,205.3
1,238.0
642.4
1,678.4
1,220.7
1,253.5
642.4
1,696.5
1,219.8
1,243.0
645.1
1,695.0
1,217.5
1,244.2
629.2
1,682.0
1,226.4
1,267.1
632.5
1,719.2
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the federal government,
are included in sen/ices. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to
services.
2. The quantity index for computers can be used to accurately m easure the real growth of this component. However,
because computers exhibit rapid changes in prices relative to other prices in the economy, the chained-dollar estimates
should not be used to m easure the component’s relative importance or its contribution to the growth rate of more aggre
gate series; accurate estimates of these contributions are shown in table 4.2.2 and real growth rates are shown in table
4.2.1.
3. Includes parts of foods, feeds, and beverages, ot nondurable industrial supplies and materials, and of nondurable
nonautomotive consumer goods.
N o t e . Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
weights of more than one period, the corresponding chained-dollar estimates are usually not additive. For exports and for
imports, the residual line is the difference between the aggregate line and the sum of the most detailed lines.
National Data
D-42
May 2013
5. Saving and Investm ent
Table 5.1. Saving and Investment by Sector
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Net saving.................................................................................................................................
Net private saving...........................
Undistributed corporate profits
Inventory valuation adjustment, corporate
Capital consumption adjustment, corporate.....................................................................
Households and institutions.......
Personal saving.......................
Wage accruals less disbursements
Net government saving..................
1
2
3
4
5
6
/
8
9
10
11
1?
1,837.5
-99.3
n
Consumption of fixed capital
Private..................................
Domestic business.........
Households and institutions
Government....................................................................................................................................
Federal........................................................................................................................................
State and local...........................................................................................................................
Gross domestic investment, capital account transactions, and net lending, NIPAs
Gross domestic investment...................................................................................................
Gross private domestic investment.............................................................................................
Domestic business.........
Households and institutions.....................................................................................................
Gross government investment.....................................................................................................
Federal............................
State and local...............
Households and institutions.....................................................................................................
Net lending or net borrowing (-), NIPAs
2013
II
III
IV
I
1,993.3
-18.4
1,945.6
-39.3
1,952.4
-52.3
1,982.5
-37.3
2,092.7
55.3
1,240.1
1,192.5
750.7
721.4
777.9
933.0
-62.6
-10.9
35.4
-200.6
489.4
471.1
489.4
471.1
0.0
0.0
-1,339.4
-1,211.0
-1,237.4
-1,082.0
-102.0 -129.0
1,147.1
719.4
943.7
-23.7
-200.7
427.7
427.7
0.0
-1,186.4
-1,058.7
-127.6
1,186.7
731.0
917.4
16.0
-202.4
455.7
455.7
0.0
-1,239.0
-1,115.4
-123.7
1,189.9
754.8
981.6
-26.8
-200.0
435.1
435.1
0.0
-1,227.2
-1,087.2
-140.0
1,246.5
680.5
889.2
-9.2
-199.5
566.0
566.0
0.0
-1,191.2
-1,066.7
-124.5
-186.4
313.3
313.3
0.0
14
15
16
17
18
19
20
1,936.8
2,011.7
1,984.9
2,004.8
2,019.8
2,037.4
2,060.5
1,587.4
1,285.7
301.7
349.4
137.0
212.4
1,647.8
1,339.0
308.8
363.9
141.5
222.4
1,625.9
1,321.3
304.6
359.0
139.7
219.2
1,642.0
1,335.1
306.9
362.8
141.0
221.7
1,654.2
1,344.0
310.2
365.6
142.0
223.6
1,669.0
1,355.6
313.4
368.4
143.3
225.1
1,688.8
1,371.3
317.6
371.6
144.9
226.8
21
22
23
24
25
26
27
28
1,869.4
2,335.1
2,060.5
2,534.6
1,946.7
2,499.9
2,030.1
2,515.1
2,121.0
2,554.7
2,144.4
2,568.8
2,627.3
1,854.9
1,456.5
398.4
480.2
160.5
319.7
2,062.3
1,628.8
433.5
472.3
154.6
317.7
2,032.2
1,615.0
417.2
467.6
152.1
315.5
2,041.7
1,616.0
425.7
473.4
155.9
317.5
2,080.1
1,643.5
436.7
474.5
155.1
319.5
2,095.1
1,640.6
454.5
473.7
155.4
318.3
2,165.6
1,693.3
472.3
461.7
145.7
316.1
1.7
-6.7
0.5
0.5
0.5
-28.3
30
31
32
33
34
35
36
37
38
39
40
41
4?
-70.4
-41.7
-28.7
72.1
133.1
-61.0
-52.1
-21.0
-31.2
38.2
98.0
-59.8
-43.6
-25.8
-17.8
44.0
101.4
-57.4
-22.3
-8.7
-13.6
22.7
82.1
-59.4
-26.2
-12.2
-14.0
26.6
87.4
-60.8
-87.8
-8.4
-79.4
59.4
121.0
-61.6
-467.4
-467.3
-553.6
-485.4
-434.2
-396.1
1,074.8
653.5
421.3
-1,542.3
-1,394.1
-148.2
897.4
519.9
377.6
-1,357.6
-1,193.1
-164.5
785.5
452.6
332.9
-1,339.1
-1,172.5
-166.6
887.0
536.4
350.5
-1,372.4
-1,212.4
-160.0
928.6
606.0
322.6
-1,362.7
-1,187.7
-175.1
959.9
455.6
504.3
-1,356.0
-1,199.8
-156.2
43
31.9
67.2
1.1
77.7
138.5
51.7
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
2,827.4
2,036.4
791.1
-990.0
-1,100.4
110.4
398.4
267.6
170.8
96.7
130.8
23.5
107.3
2,840.3
2,060.4
779.9
-847.0
-940.5
93.5
522.9
414.5
289.8
124.7
108.4
13.1
95.3
2,773.0
2,040.7
732.3
-827.4
-919.0
91.6
515.0
406.3
293.7
112.6
108.7
12.4
96.3
2,828.7
2,066.1
762.6
-876.3
-974.3
98.1
510.3
399.7
281.0
118.7
110.6
14.9
95.7
2,844.1
2,098.8
745.3
-861.6
-945.2
83.6
534.9
426.0
299.5
126.5
108.9
13.1
95.9
2,915.5
2,036.1
879.4
-822.8
-923.4
100.5
531.4
426.1
284.9
141.1
105.4
12.1
93.3
566.8
476.8
322.1
154.7
90.1
0.8
89.3
12.0
-0.6
0.0
12.6
-0.1
44.9
12.4
-0.3
0.0
12.4
-0.3
0.0
12.5
-0.2
0.0
13.0
0.3
179.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
35.8
15.5
20.3
9.1
0.3
8.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
143.4
62.0
81.3
36.4
1.3
35.1
0.0
0.0
0.0
0.0
0.0
0.0
Addenda:
Gross private saving.....................................................................................................................
Domestic business....................................................................................................................
Households and institutions.....................................................................................................
Gross government saving.............................................................................................................
State and local...
Net domestic investment
Private.........................................................................................................................................
Domestic business....
Households and institutions................................................................................................
Government....................
Federal........................
State and local...........
Gross saving as a percentage of gross national income...............................................
Net saving as a percentage of gross national income...................................................
Disaster losses 2.................................................
Private.................
Domestic business................................................................................................................
Households and institutions................................................................................................
Government....................
Federal........................
State and local......................................................................................................................
630.9
1. Consists of capital transfers and the acquisition and disposal of nonproduced nonfinancial assets. Prior to 1982, reflects only capital grants paid to the U.S. territories and the Commonwealths of Puerto Rico and
Northern Mariana Islands.
2. Consists of damages to fixed assets.
May
2013
D-43
S u rv e y o f C u r r e n t Business
Table 5.3.1. Percent Change From Preceding Period in Real Private Fixed Investment by Type
[Percent]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
II
2013
III
I
IV
Private fixed investment...............................................................................................
Nonresidential.......................................................................................................................
Structures..........................................................................................................................
1
2
3
6.6
8.6
2.7
8.7
8.0
10.8
9.8
7.5
12.9
4.5
3.6
0.6
0.9
-1.8
0.0
14.0
13.2
16.7
4.1
2.1
-0.3
Commercial and health care
Manufacturing....................
Power and communication
Mining exploration, shafts, and wells
Other structures 1 ...................................................................................................................
4
-2.3
0.4
-9.1
22.6
-6.7
7.8
17.4
21.9
5.7
7.4
11.1
-7.8
94.3
-8.4
3.0
10.3
26.2
-19.5
-4.1
13.5
8.5
-8.9
-9.1
3.6
0.1
6.9
24.4
69.9
1.9
-0.7
2.8
6.0
-24.1
23.0
-17.4
11.0
6.9
5.4
4.8
-2.6
11.8
3.0
5.0
12.3
6.9
-0.5
13.3
31.1
12.4
3.8
3.7
5.7
0.9
7.1
17.1
6.6
5.9
14.7
1.9
8.5
-13.6
20.0
11.8
-2.4
-19.6
6.1
-6.9
13.6
15.8
6.9
-2.5
-33.2
3.8
3.0
0.1
-16.1
9.4
15.9
73.4
9.2
7.8
9.7
7.3
7.4
3.6
5.6
2.8
3.9
-0.9
-8.7
17.4
-1.4
-1.5
12.1
12.3
20.5
21.2
8.5
8.8
13.5
13.7
17.6
17.9
12.6
12.7
-3.8
-4.6
2.5
-0.2
20.8
18.0
41.3
7.3
30.9
26.9
61.7
15.6
25.4
17.6
87.9
-0.6
29.7
28.8
35.4
4.1
39.3
37.3
51.5
4.8
35.8
33.3
51.3
-2.3
4.9
2.4
-1.6
-2.5
7.3
4.2
8.7
0.8
10.9
0.6
2.7
-2.3
11.4
6.9
10.9
10.7
11.4
16.5
5.4
16.1
12.7
21.4
4.1
4.7
1.4
0.6
2.6
5.9
-2.5
5.0
0.0
12.9
17.3
11.7
18.5
16.6
21.3
5.5
3.1
7.0
-0.2
17.9
Equipment and software..................................................................................................
Information processing equipment and software................................................................
Computers and peripheral equipment..............................................................................
Software 2.........
O th e r3..............
Industrial equipment
Transportation equipment
Other equipm ent4 ..................................................................................................................
Residential.............................................................................................................................
Structures..........................................................................................................................
Permanent site
Single family
Multifamily
Other struclures 5
Equipment.........................................................................................................................
Addenda:
Private fixed investment in structures........................................................................................
Private fixed investment in equipment and software..............................................................
Private fixed investment in new structures 6 ............................................................................
Nonresidential structures.......................................................................................................
Residential structures............................................................................................................
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational structures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery, service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers' commissions on the sale of residential structures.
6. Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
Table 5.3.2. Contributions to Percent Change in Real Private Fixed Investment by Type
Seasonally adjusted at annual rates
Line
2012
2011
2012
I
Percent change at annual rate:
Private fixed investment...............................................................................................
Percentage points at annual rates:
Nonresidential.......................................................................................................................
Structures..........................................................................................................................
Commercial and health care.................................................................................................
Manufacturing.........................................................................................................................
Power and communication.....................................................................................................
Mining exploration, shafts, and wells
Other structures 1............
Equipment and software...
Information processing equipment and software................................................................
Computers and peripheral equipment..............................................................................
Software 2......................
O th e r3...........................
Industrial equipment..........
Transportation equipment
Other equipm ent4 ...........
Residential.............................................................................................................................
Structures..........................................................................................................................
Permanent site
Single family
Multifamily
Other structures 5
Equipment.........................................................................................................................
Addenda:
Private fixed investment in structures........................................................................................
Private fixed investment in equipment and software..............................................................
Private fixed investment in new structures 6 ............................................................................
Nonresidential structures.......................................................................................................
Residential structures............................................................................................................
II
2013
III
I
IV
1
6.6
8.7
9.8
4.5
0.9
14.0
4.1
2
3
6.90
0.63
6.48
2.41
6.25
2.93
2.92
0.14
-1.50
0.00
10.72
3.76
1.71
-0.04
0.40
0.42
0.94
0.42
0.23
0.54
-0.21
3.16
-0.67
0.11
0.49
0.62
-1.05
-0.32
0.40
0.42
-0.25
-0.44
0.27
0.00
0.38
0.60
2.65
0.15
-0.02
0.14
0.16
-1.34
1.56
-0.57
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
-0.12
0.01
-0.44
1.42
-0.24
6.27
4.07
3.32
2.77
-1.50
6.95
1.76
1.52
0.52
1.06
-0.05
1.24
2.28
1.23
1.12
0.17
0.87
0.09
0.71
1.54
0.70
1.69
0.60
0.29
0.79
-1.45
1.91
1.17
-0.68
-0.91
0.88
-0.66
1.27
1.48
0.70
-0.71
-1.53
0.55
0.27
0.01
-1.74
0.94
4.25
2.18
1.33
0.74
0.98
0.90
0.83
0.97
0.22
0.41
0.35
-0.08
-0.85
1.72
-0.28
-0.31
2.24
2.23
3.53
3.54
1.54
1.55
2.42
2.39
3.29
3.27
2.38
2.34
-0.28
-0.31
0.02
-0.02
1.40
1.06
0.34
0.82
1.87
1.44
0.43
1.67
1.61
0.99
0.62
-0.06
1.94
1.62
0.32
0.45
2.73
2.23
0.50
0.54
2.60
2.08
0.52
-0.26
0.03
0.01
-0.01
-0.01
0.03
0.02
0.04
0.32
6.30
0.24
0.62
-0.38
4.64
4.08
4.14
2.39
1.75
6.47
3.31
5.93
2.89
3.05
1.69
2.76
0.54
0.14
0.40
2.38
-1.46
1.90
0.00
1.89
7.04
6.97
6.96
3.74
3.22
2.30
1.79
2.71
-0.03
2.74
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational structures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. Excludes software “embedded," or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery, service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers’ commissions on the sale of residential structures.
6. Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
National Data
D-44
May 2013
Table 5.3.3. Real Private Fixed Investment by Type, Quantity Indexes
[Index numbers, 2005=100]
Seasonally adjusted
Line
2011
2012
2012
I
Private fixed investment...............................................................................................
Nonresidential.......................................................................................................................
Structures.........................
Commercial and health care..................................................................................................
Manufacturing.................
Power and communication.....................................................................................................
Mining exploration, shafts, and wells....................................................................................
Other structures 1..........
Equipment and software.
Information processing equipment and software...............................................................
Computers and peripheral equipment..............................................................................
Software 2............................................................................................................................
O th e r3............
Industrial equipment................................................................................................................
Transportation equipm ent......................................................................................................
Other equipm ent4 ..................................................................................................................
Residential
Structures..
Permanent site .........................................................................................................................
Single family.........................................................................................................................
Multifamily............................................................................................................................
Other structures 5 ...................................................................................................................
Equipment..........................................................................................................................
Addenda:
Private fixed investment in structures........................................................................................
Private fixed investment in equipment and software...............................................................
Private fixed investment in new structures 6 ............................................................................
Nonresidential structures........................
Residential structures.............................
1.
2.
3.
4.
5.
6.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
II
2013
III
IV
I
80.311
102.288
90.733
87.313
110.431
100.506
85.785
109.108
99.421
86.724
110.065
99.560
86.923
109.557
99.558
89.820
112.996
103.484
90.725
113.580
103.419
57.090
123.614
125.791
122.958
79.352
61.557
145.107
153.360
129.977
85.200
59.559
138.557
156.170
130.273
83.223
61.034
146.859
147.934
128.909
85.896
62.298
143.480
144.441
130.062
85.921
63.339
151.532
164.896
130.665
85.762
63.780
153.740
153.887
137.613
81.752
107.473
114.890
113.460
114.790
114.049
117.262
118.143
126.294
165.101
127.154
110.248
95.562
86.247
94.208
131.119
171.282
134.412
111.256
102.314
101.009
100.415
130.924
180.984
131.563
111.804
99.283
100.004
97.602
130.124
171.374
133.533
109.830
102.504
103.729
99.239
129.289
154.957
134.780
110.649
102.531
99.273
101.494
134.141
177.812
137.773
112.740
104.937
101.032
103.326
135.326
180.258
138.744
113.819
104.700
98.766
107.555
42.268
41.553
47.371
46.681
45.433
44.731
46.364
45.679
47.855
47.164
49.832
49.149
51.332
50.639
24.990
25.212
25.684
69.737
30.197
29.742
36.302
74.810
27.362
27.340
30.034
74.299
28.955
28.470
35.164
74.191
30.901
30.328
37.929
74.933
33.568
32.828
42.082
75.815
36.236
35.271
46.675
75.372
100.960
103.424
102.727
102.083
103.909
104.977
107.183
58.023
107.413
58.821
90.990
40.069
64.658
114.786
65.243
100.686
44.626
63.067
113.362
63.982
99.605
43.198
63.702
114.674
64.197
99.742
43.473
64.618
113.957
64.988
99.746
44.808
67.244
117.150
67.806
103.652
47.025
68.146
118.043
68.964
103.604
49.006
Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational structures, net purchases of used structures, and brokers' commissions on the sale of structures.
Excludes software “embedded", or bundled, in computers and other equipment.
Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and related equipment, and office and accounting equipment.
Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery, service industry machinery, and electrical equipment not elsewhere classified.
Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers' commissions on the sale of residential structures.
Excludes net purchases of used structures and brokers' commissions on the sale of structures.
Table 5.3.4. Price Indexes for Private Fixed Investment by Type
[Index numbers, 2005=100]
Seasonally adjusted
Line
2011
2012
2012
I
Private fixed investment...............................................................................................
Nonresidential.......................................................................................................................
Structures...........................................................................................................................
Commercial and health care..................................................................................................
Manufacturing..............................
Power and communication.........
Mining exploration, shafts, and wells....................................................................................
Other structures 1 .......................
Equipment and software..................................................................................................
Information processing equipment and software................................................................
Computers and peripheral equipment...........
Software 2.........................................................
O th e r3...............................................................
Industrial equipment.............................................
Transportation equipm ent...................................
Other equipm ent4 ...............................................
Residential..............................................................................................................................
Structures...........................................................................................................................
Permanent site.........................................................................................................................
Single family...,
Multifamily......
Other structures 5 ...................................................................................................................
Equipment............
Addenda:
Private fixed investment in structures........................................................................................
Private fixed investment in equipment and software..............................................................
Private fixed investment in new structures 6 ............................................................................
Nonresidential structures.......................................................................................................
Residential structures............................................................................................................
1.
2.
3.
4.
5.
6.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
II
2013
III
IV
I
106.680
107.359
126.850
108.175
108.993
131.222
107.661
108.562
130.167
107.977
108.878
131.198
108.324
109.104
131.540
108.739
109.428
131.982
109.154
109.601
132.487
117.938
119.609
134.840
143.137
112.565
121.071
122.372
139.806
150.055
114.798
120.093
121.988
139.075
148.341
113.862
120.870
122.478
140.081
150.086
114.471
121.405
122.303
139.998
150.603
115.138
121.916
122.719
140.072
151.188
115.722
122.882
123.513
140.128
151.258
116.711
100.445
101.236
101.001
101.094
101.282
101.567
101.636
89.903
60.104
100.546
92.868
118.784
105.059
112.253
89.120
58.668
100.118
92.068
120.950
107.289
115.849
89.396
58.959
100.465
92.216
120.377
106.581
114.630
89.250
58.632
100.356
92.151
120.928
106.388
115.440
89.042
58.754
99.950
92.021
121.022
107.231
116.399
88.792
58.327
99.703
91.884
121.474
108.954
116.926
88.842
58.085
100.176
91.505
121.764
108.890
116.990
103.406
103.701
104.288
104.569
103.439
103.670
103.754
104.004
104.593
104.902
105.364
105.698
106.719
107.106
102.329
98.978
121.600
104.269
103.298
99.812
123.814
105.083
102.427
98.760
124.368
104.169
102.683
99.127
123.731
104.553
103.726
100.330
123.534
105.349
104.357
101.033
123.622
106.261
105.799
102.672
123.623
107.635
90.752
91.985
92.916
92.558
91.322
91.145
90.582
113.347
100.353
115.667
127.106
106.422
115.941
101.148
118.463
131.499
107.361
114.977
100.923
117.540
130.450
106.558
115.650
101.012
118.263
131.479
106.935
116.262
101.187
118.797
131.816
107.729
116.875
101.468
119.251
132.250
108.223
117.829
101.532
120.154
132.751
109.617
Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational structures, net purchases of used structures, and brokers’ commissions on the sale of structures.
Excludes software “embedded,” or bundled, in computers and other equipment.
Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and related equipment, and office and accounting equipment.
Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery, service industry machinery, and electrical equipment not elsewhere classified.
Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers’ commissions on the sale of residential structures.
Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
May 2 0 1 3
S urvey
of
C urren t B
D -4 5
u s in e s s
Table 5.3.5. Private Fixed Investment by Type
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2012
2011
2012
I
Private fixed investment...............................................................................................
Nonresidential.......................................................................................................................
Structures..........................................................................................................................
Commercial and health care
Manufacturing.......................
Power and communication..
Mining exploration, shafts, and wells....................................................................................
Other structures 1....................................................................................................................
Equipment and software
Information processing equipment and software................................................................
Computers and peripheral equipment..............................................................................
Software 2 ...........................................................................................................................
Other 3....
Industrial equipment...............................................................................................................
Transportation equipment.......................................................................................................
Other equipm ent4...................................................................................................................
Residential.............................................................................................................................
Structures..........................................................................................................................
Permanent site
Single fam ily........................................................................................................................
Multifamily
Other structures 5....................................................................................................................
Equipment..........................................................................................................................
Addenda:
Private fixed investment in structures.......................................................................................
Private fixed investment in equipment and software..............................................................
Private fixed investment in new structures6............................................................................
Nonresidential structures........................................................................................................
Residential structures.............................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
II
2013
III
I
IV
1,818.3
1,479.6
404.8
2,004.2
1,621.3
463.4
1,959.7
1,595.5
454.7
1,986.9
1,614.1
458.9
1,997.9
1,610.0
460.1
2,072.4
1,665.5
479.9
2,101.3
1,676.7
481.4
91.5
44.2
76.6
135.6
56.9
101.3
53.1
96.8
150.0
62.3
97.2
50.5
98.0
148.6
60.4
100.2
53.8
93.5
148.8
62.6
102.8
52.4
91.3
150.6
63.0
104.9
55.6
104.2
151.9
63.2
106.5
56.8
97.3
160.1
60.8
1,074.7
1,157.9
1,140.8
1,155.2
1,149.9
1,185.6
1,195.3
539.6
78.3
278.7
182.6
181.2
164.7
189.2
555.4
79.3
293.4
182.7
197.5
196.9
208.1
556.3
84.3
288.1
183.9
190.7
193.6
200.1
552.0
79.3
292.1
180.5
197.8
200.5
204.9
547.2
71.9
293.7
181.6
198.0
193.4
211.3
566.1
81.9
299.5
184.8
203.4
200.0
216.1
571.4
82.7
303.0
185.8
203.4
195.4
225.1
338.7
329.7
382.9
373.6
364.2
354.8
372.8
363.5
387.9
378.5
406.9
397.5
424.5
415.0
123.0
108.2
14.8
206.8
150.0
128.8
21.3
223.6
134.7
117.1
17.7
220.1
142.9
122.3
20.6
220.6
154.1
131.9
22.2
224.5
168.4
143.8
24.6
229.1
184.3
157.0
27.3
230.7
9.0
9.4
9.4
9.3
9.3
9.4
9.6
734.6
1,083.7
685.3
405.2
280.1
837.0
1,167.2
778.1
463.3
314.7
809.5
1,150.2
757.0
454.7
302.3
822.4
1,164.5
764.2
458.9
305.3
838.7
1,159.2
777.1
460.1
317.1
877.3
1,195.0
813.9
479.7
334.3
896.4
1,204.9
834.1
481.3
352.8
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational structures, net purchases of used structures, and brokers' commissions on the sale of structures.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery, service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers' commissions on the sale of residential structures.
6. Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
Table 5.3.6. Real Private Fixed Investment by Type, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Private fixed investment..............................................................................................
Nonresidential.......................................................................................................................
Structures..........................................................................................................................
Commercial and health ca re .................................................................................................
Manufacturing..........................................................................................................................
Power and communication....................................................................................................
Mining exploration, shafts, and wells....................................................................................
Other structures 1....................................................................................................................
Equipment and software...................................................................................................
Information processing equipment and software.................................................................
Software 3 ...........................................................................................................................
O th e r4..................................................................................................................................
Industrial equipment...............................................................................................................
Transportation equipment.......................................................................................................
Other equipm ent5...................................................................................................................
Residential.............................................................................................................................
Structures..........................................................................................................................
Permanent s ite ........................................................................................................................
Single fam ily........................................................................................................................
Multifamily...........................................................................................................................
Other structures 6....................................................................................................................
Equipment..........................................................................................................................
Residual............................................................................................................................................
2013
III
II
IV
1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1,704.5
1,378.2
319.2
1,853.1
1,487.9
353.5
1,820.6
1,470.0
349.7
1,840.6
1,482.9
350.2
1,844.8
1,476.1
350.2
1,906.3
1,522.4
364.0
1,925.5
1,530.3
363.8
77.6
36.9
56.8
94.8
50.6
83.7
43.4
69.2
100.2
54.3
81.0
41.4
70.5
100.4
53.0
83.0
43.9
66.8
99.3
54.7
84.7
42.9
65.2
100.2
54.8
86.1
45.3
74.5
100.7
54.7
86.7
45.9
69.5
106.1
52.1
1,070.0
1,143.8
1,129.6
1,142.8
1,135.4
1,167.4
1,176.2
600.2
623.2
622.2
618.4
614.5
637.5
643.2
277.2
196.7
152.6
156.7
168.6
293.0
198.5
163.3
183.6
179.7
286.8
199.4
158.5
181.7
174.7
291.1
195.9
163.6
188.5
177.6
293.8
197.4
163.7
180.4
181.6
300.4
201.1
167.5
183.6
184.9
302.5
203.0
167.1
179.5
192.5
327.6
318.0
367.1
357.2
352.1
342.3
359.3
349.5
370.9
360.9
386.2
376.1
397.8
387.5
120.2
109.3
12.1
198.3
145.2
128.9
17.2
212.7
131.6
118.5
14.2
211.3
139.2
123.4
16.6
211.0
148.6
131.5
17.9
213.1
161.4
142.3
19.9
215.6
174.2
152.9
22.1
214.3
9.9
10.2
10.1
10.0
10.2
10.3
10.5
-23.8
-19.9
-23.7
-20.0
-14.8
-20.9
-21.4
25
26
27
28
29
648.1
1,079.9
592.5
318.8
263.2
722.2
1,154.1
657.2
352.7
293.1
704.4
1,139.7
644.4
349.0
283.8
711.5
1,152.9
646.6
349.4
285.6
721.7
1,145.7
654.6
349.4
294.3
751.1
1,177.8
683.0
363.1
308.9
761.1
1,186.8
694.6
363.0
321.9
Addenda:
Private fixed investment in structures........................................................................................
Private fixed investment in equipment and software..............................................................
Private fixed investment in new structures 7.............................................................................
Nonresidential structures........................................................................................................
Residential structures..............................................................................................................
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational structures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. The quantity index for computers can be used to accurately measure the real growth rate of this component. However, because computers exhibit rapid changes in prices relative to other prices in the economy, the chained-dollar estimates should
not be used to measure the component’s relative importance or its contribution to the growth rate of more aggregate series; accurate estimates of these contributions are shown in table 5 .3 .2 and real growth rates are shown in table 5.3 .1 .
3. Excludes software “embedded,” or bundled, in computers and other equipment.
4. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and related equipment, and office and accounting equipment.
5. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery, service industry machinery, and electrical equipment not elsewhere classified.
6. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers’ commissions on the sale of residential structures.
7. Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
Note. Chained (2 0 0 5 ) dollar series are calculated as the product of the chain-type quantity index and the 2 0 0 5 current-dollar value of the corresponding series, divided by 1 0 0 . 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.
National Data
D-46
May 2013
Table 5.6.5B. Change in Private Inventories by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Change in private inventories......................................................................................
Farm...................................................................................................................................................
Mining, utilities, and construction
Manufacturing.........................
Durable goods industries...
Nondurable goods industries
Wholesale trade......................
Durable goods industries...
Nondurable goods industries.....................................................................................................
Retail trade...............................
Motor vehicle and parts dealers
Food and beverage stores.,
General merchandise stores
Other retail stores..............
Other industries.......................
II
2013
III
IV
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
36.6
58.1
72.6
54.8
82.3
22.7
64.3
-6.1
1.4
23.1
24.9
-1.8
22.4
22.3
0.1
-5.3
-7.0
1.1
1.3
-0.8
1.1
-16.1
4.3
14.8
18.3
-3.5
25.7
24.9
0.8
26.8
20.3
0.5
1.6
4.4
2.6
^ .1
18.8
15.1
14.6
0.5
25.2
25.2
0.0
24.4
21.7
3.0
-1.2
0.9
-6.8
-12.7
3.8
-2.0
16.9
-18.9
19.0
28.5
-9.5
34.3
23.9
0.0
2.1
8.3
12.3
-26.5
-5.9
45.8
33.6
12.3
41.9
25.9
15.9
22.4
22.6
-0.2
-1.9
1.9
4.5
-21.0
0.5
0.1
7.9
-7.9
16.8
19.9
-3.1
25.9
13.2
-0.9
7.3
6.3
0.4
11.7
-9.6
15.5
10.5
5.0
14.0
14.2
-0.2
28.4
5.2
1.1
10.1
12.0
4.4
16
17
18
19
20
21
22
23
24
25
26
36.6
37.6
-1.0
42.7
125.1
-82.3
22.4
17.0
17.9
-0.8
5.4
58.1
66.7
-8.7
74.1
87.9
-13.8
25.7
22.7
21.4
1.3
3.0
72.6
59.9
12.7
76.7
96.7
-20.0
25.2
26.3
24.2
2.1
-1.2
54.8
78.8
-24.1
67.5
42.7
24.8
19.0
22.4
22.4
0.1
-3.4
82.3
84.8
-2.5
108.7
142.5
-33.7
41.9
29.1
20.9
8.3
12.8
22.7
43.5
-20.7
43.7
69.8
-26.2
16.8
12.9
18.3
-5.4
3.9
64.3
36.7
27.7
52.7
81.8
-29.1
14.0
16.1
18.2
-2.1
-2.1
Addenda:
Change in private inventories.....................................................................................................
Durable goods industries.......................................................................................................
Nondurable goods industries.................................................................................................
Nonfarm industries.......................................................................................................................
Nonfarm change in book value ' ...........................................................................................
Nonfarm inventory valuation adjustm ent2...........................................................................
Wholesale trade..................
Merchant wholesale trade
Durable goods industries
Nondurable goods industries
Nonmerchant wholesale trade..............................................................................................
1. This series is derived from the Census Bureau series “current cost inventories."
2. The inventory valuation adjustment (IVA) shown in this table differs from the IVA that adjusts business incomes. The IVA in this table reflects the mix of methods (such as first-in, first-out and last-in, first-out) under
lying inventories derived primarily from Census Bureau statistics (see footnote 1). This mix differs from that underlying business income derived primarily from Internal Revenue Service statistics.
N o te . Estimates in this table are based on the North American Industry Classification System (NAICS).
Table 5.6.6B. Change in Real Private Inventories by Industry, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Change in private inventories......................................................................................
Farm...................................................................................................................................................
Mining, utilities, and construction
Manufacturing.........................
Durable goods industries...
Nondurable goods industries
Wholesale trade......................
Durable goods industries...
Nondurable goods industries
Retail trade...............................
Motor vehicle and parts dealers
Food and beverage stores..
General merchandise stores
Other retail stores..............
Other industries................................................................................................................................
Residual............................................................................................................................................
II
2013
III
IV
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
31.0
43.0
56.9
41.4
60.3
13.3
50.3
-3.8
1.1
18.9
21.2
-0.9
18.0
19.3
0.6
-4.3
-6.5
0.9
1.1
-0.3
1.0
-2.7
-11.2
3.6
11.6
15.6
-2.5
19.4
21.3
0.4
22.9
18.7
0.4
1.3
3.7
2.2
-10.5
-2.6
15.7
11.9
12.4
0.4
19.1
21.5
0.0
21.1
20.1
2.4
-1.0
0.8
-5.7
-7.1
-7.9
3.1
-1.8
14.3
-13.6
13.8
24.4
-7.0
29.4
21.9
0.0
1.8
7.0
10.3
-12.9
-19.2
-4.9
36.4
28.8
8.8
32.1
22.2
10.7
19.2
20.6
-0.1
-1.6
1.8
3.8
-10.6
-15.2
0.4
0.0
6.8
-5.6
12.6
17.0
-2.0
22.1
12.2
-0.7
6.0
5.3
0.3
-11.2
6.7
-7.4
12.5
8.9
3.8
10.7
12.1
0.1
24.1
4.8
0.8
8.4
10.0
3.6
-1.5
17
18
19
20
21
22
23
24
25
31.0
33.2
0.6
36.5
18.0
13.9
15.4
-0.1
4.2
43.0
58.0
-8.3
59.6
19.4
17.1
18.3
0.7
2.3
56.9
52.0
9.5
62.0
19.1
20.0
20.6
1.4
-0.8
41.4
68.2
-18.6
53.2
13.8
16.6
19.1
-0.5
-2.8
60.3
73.8
-5.5
88.2
32.1
22.3
17.8
5.5
9.9
13.3
37.8
-18.7
34.8
12.6
9.6
15.6
-3.5
3.0
50.3
31.8
20.3
42.6
10.7
12.2
15.5
-1.3
-1.5
Addenda:
Change in private inventories.....................................................................................................
Durable goods industries
Nondurable goods industries
Nonfarm industries.............
Wholesale trade..................
Merchant wholesale trade
Durable goods industries
Nondurable goods industries
Nonmerchant wholesale trade..............................................................................................
N o te . Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (2005) dollar series for real change in private inventories are calculated as the period-to-period change in chained-dollar end-of-period inventories. Quarterly changes in end-of-period inventories are stated
at annual rates. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference
between the first line and the sum of the most detailed lines.
May 2013
S urvey
of
C urren t B
D-47
u s in e s s
Table 5.7.5B. Private Inventories and Domestic Final Sales by Industry
[Billions of dollars]
Seasonally adjusted quarterly totals
Line
2013
2012
II
I
III
IV
I
Private inventories 1.....................................................................................................
1
2,286.1
2,272.5
2,320.9
2,338.1
2,366.7
Farm..................................................................................................................................................
Mining, utilities, and construction..................................................................................................
Manufacturing..................................................................................................................................
Durable goods industries
Nondurable goods industries
Wholesale trade..............
Durable goods industries
Nondurable goods industries
Retail trade.......................
Motor vehicle and parts dealers................................................................................................
Food and beverage stores..........................................................................................................
General merchandise stores
Other retail stores......
Other industries...............
2
3
4
5
6
7
8
9
10
11
12
13
14
15
242.8
99.4
711.3
404.2
307.1
574.1
303.5
270.6
498.4
131.9
48.3
86.3
231.9
160.1
238.3
98.6
694.8
404.5
290.3
570.2
308.9
261.4
507.9
139.6
48.6
87.1
232.6
162.7
236.6
98.1
710.7
410.1
300.6
594.5
315.5
279.1
517.2
144.7
49.5
87.4
235.7
163.8
236.3
103.2
711.2
413.3
297.9
598.6
322.4
276.2
523.3
146.7
49.9
89.4
237.3
165.6
238.0
102.3
723.5
418.6
304.9
602.9
325.7
277.2
531.8
147.8
50.3
91.9
241.8
168.1
16
17
18
19
20
21
22
23
24
25
26
2,286.1
924.9
1,361.2
2,043.3
574.1
492.3
264.6
227.6
81.8
2,272.5
940.8
1,331.7
2,034.2
570.2
492.4
268.6
223.8
77.8
2,320.9
959.0
1,361.9
2,084.3
594.5
511.4
273.9
237.5
83.1
2,338.1
971.9
1,366.2
2,101.8
598.6
514.7
280.2
234.5
83.9
2,366.7
983.5
1,383.2
2,128.7
602.9
518.7
284.5
234.3
84.2
855.6
446.5
865.6
451.1
877.7
461.1
889.2
469.4
896.8
471.3
27
28
29
2.67
2.39
4.58
2.63
2.35
4.51
2.64
2.37
4.52
2.63
2.36
4.48
2.64
2.37
4.52
Addenda:
Private inventories.......................................................................................................................
Durable goods industries.......................................................................................................
Nondurable goods industries
Nonfarm industries..................
Wholesale trade......................
Merchant wholesale trade..
Durable goods industries
Nondurable goods industries
Nonmerchant wholesale trade..............................................................................................
Final sales of domestic business 2............................................................................
Final sales of goods and structures of domestic business 2..................................
Ratios of private inventories to final sales of domestic business:
Private inventories to final sales............................................................................................
Nonfarm inventories to final sales.........................................................................................
Nonfarm inventories to final sales of goods and structures..............................................
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated from current-dollar inventories in this table is not the current-dollar change in private inventories component of
GDR The former is the difference between two inventory stocks, each valued at its respective end-of-quarter prices. The latter is the change in the physical volume of inventories valued at average prices of the quarter.
In addition, changes calculated from this table are at quarterly rates, whereas, the change in private inventories is stated at annual rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross output of general government, gross value added of nonprofit institutions, compensation paid to
domestic workers, and imputed rental of owner-occupied nonfarm housing. It includes a small amount of final sales by farm and by government enterprises.
N o te . Estimates in this table are based on the North American Industry Classification System (NAICS).
Table 5.7.6B. Real Private Inventories and Real Domestic Final Sales by Industry, Chained Dollars
[Billions of chained (2005) dollars]
Seasonally adjusted quarterly totals
Line
Private inventories 1.....................................................................................................
Farm..................................................................................................................................................
Mining, utilities, and construction..................................................................................................
Manufacturing..................................................................................................................................
Durable goods industries...........................................................................................................
Nondurable goods industries....................................................................................................
Wholesale trade.
Durable goods industries...........................................................................................................
Nondurable goods industries
Retail trade..........
Motor vehicle and parts dealers................................................................................................
Food and beverage stores
General merchandise stores
Other retail stores
Other industries..
Residual............................................................................................................................................
2013
2012
II
I
III
IV
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
1,773.8
1,784.2
1,799.2
1,802.5
1,815.1
144.8
82.0
550.7
340.4
212.6
434.6
258.6
177.2
427.6
122.0
37.7
72.7
193.6
132.7
-0.5
142.8
82.8
550.2
344.0
209.2
438.0
264.7
175.5
434.9
127.5
37.7
73.1
195.3
135.3
-3.7
138.1
81.6
559.3
351.2
211.4
446.0
270.3
178.1
439.7
132.6
37.7
72.7
195.8
136.3
-6.6
134.3
81.6
559.3
352.8
210.0
449.2
274.6
177.6
445.3
135.7
37.5
74.3
197.1
136.4
-9.4
135.9
79.8
562.4
355.1
210.9
451.9
277.6
177.6
451.3
136.9
37.7
76.3
199.6
137.2
-9.5
17
18
19
20
21
22
23
24
25
26
27
1,773.8
799.4
976.8
1,631.8
434.6
373.9
224.6
150.3
60.7
1,784.2
816.4
972.1
1,645.1
438.0
378.1
229.3
150.2
60.0
1,799.2
834.9
970.7
1,667.2
446.0
383.6
233.8
151.5
62.5
1,802.5
844.3
966.1
1,675.8
449.2
386.0
237.7
150.7
63.2
1,815.1
852.3
971.1
1,686.5
451.9
389.1
241.5
150.4
62.8
765.2
418.3
770.5
421.2
775.0
425.0
784.3
433.3
789.4
435.0
28
29
30
2.32
2.13
3.90
2.32
2.14
3.91
2.32
2.15
3.92
2.30
2.14
3.87
2.30
2.14
3.88
Addenda:
Private inventories.......................................................................................................................
Durable goods industries.......................................................................................................
Nondurable goods industries.....................
Nonfarm industries...........................................
Wholesale trade...............................................
Merchant wholesale trade..........................
Durable goods industries.......................
Nondurable goods industries............................................................................................
Nonmerchant wholesale trade..............................................................................................
Final sales of domestic business 2............................................................................
Final sales of goods and structures of domestic business2..................................
Ratios of private inventories to final sales of domestic business:
Private inventories to final sales................................................................................................
Nonfarm inventories to final sales.............................................................................................
Nonfarm inventories to final sales of goods and structures..................................................
1. Inventories are as of the end of the quarter. The quarter-to-quarter changes calculated from this table are at quarterly rates, whereas the change in private inventories component of GDP is stated at annual rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross output of general government, gross value added of nonprofit institutions, compensation paid to
domestic workers, and imputed rental of owner-occupied nonfarm housing. It includes a small amount of final sales by farm and by government enterprises.
N o te . Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (2005) dollar inventory series are calculated to ensure that the chained (2005) dollar change in inventories for 2005 equals the current-dollar change in inventories for 2005 and that the average of the 2004
and 2005 end-of-year chain-weighted and fixed-weighted inventories are equal.
National Data
D -4 8
May 2 0 1 3
Table 5.7.9B. Implicit Price Deflators for Private Inventories by Industry
[Index numbers, 2005=100]
Seasonally adjusted
Line
2012
I
Private inventories 1.....................................................................................................
Farm...................................................................................................................................................
Mining, utilities, and construction...................................................................................................
Manufacturing........................
Durable goods industries..
Nondurable goods industries.....................................................................................................
Wholesale trade.....................
.........................................
Durable goods industries..
Nondurable goods industries....................................................................................
Retail trade........................................................................................................................................
Motor vehicle and parts dealers................................................................................................
Food and beverage stores.
General merchandise stores
Other retail stores........................................................................................................................
Other industries......................
...............
II
2013
III
IV
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
128.884
127.373
128.995
129.710
130.385
167.694
121.261
129.170
118.748
144.460
132.105
117.341
152.707
116.560
108.109
128.174
118.734
119.783
120.620
166.841
119.088
126.271
117.591
138.771
130.187
116.663
148.967
116.782
109.558
128.813
119.059
119.101
120.261
171.364
120.230
127.064
116.793
142.182
133.289
116.706
156.661
117.623
109.082
131.462
120.087
120.404
120.226
175.985
126.343
127.157
117.126
141.873
133.255
117.426
155.471
117.527
108.114
132.987
120.451
120.421
121.450
175.064
128.229
128.643
117.884
144.558
133.424
117.333
156.045
117.848
108.017
133.365
120.432
121.148
122.476
16
17
18
19
20
21
22
23
24
128.884
115.709
139.358
125.218
132.105
131.648
117.847
151.482
134.845
127.373
115.234
136.994
123.653
130.187
130.238
117.117
149.055
129.757
128.995
114.866
140.297
125.023
133.289
133.310
117.153
156.755
133.053
129.710
115.105
141.421
125.418
133.255
133.319
117.889
155.631
132.749
130.385
115.393
142.429
126.218
133.424
133.316
117.776
155.802
133.978
Addenda:
Private inventories........................................................................................................................
Durable goods industries
Nondurable goods industries................................................................................................
Nonfarm industries............
Wholesale trade................
Merchant wholesale trade......................................................................................................
Durable goods industries......
Nondurable goods industries
Nonmerchant wholesale trade
1. Implicit price deflators are as of the end of the quarter and are consistent with inventory stocks.
N o te . Estimates in this table are based on the North American Industry Classification System (NAICS).
May 2013
S urvey
of
C urren t B
D-49
u s in e s s
6. Incom e and E m ploym en t by Industry
Table 6.1 D. National Income Without Capital Consumption Adjustment by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
II
I
National income without capital consumption adjustment...................................
Domestic industries......................................................... ...................
Private industries
Agriculture, forestry, fishing, and hunting...............................................................................
M ining........
Utilities.......
Construction
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Retail trade.
Transportation and warehousing
Information.
Finance, insurance, real estate, rental, and leasing.............................................................
Professional and business services 1....................................................................................
Educational services, health care, and social assistance...................................................
Arts, entertainment, recreation, accommodation, and food services.................................
Other services, except government.......................................................................................
Government.....................................
Rest of the world.................................
1
?
3
4
5
fi
7
8
9
10
11
12
13
14
15
16
17
18
19
?n
21
2013
III
IV
13,135.1
12,883.2
11,239.4
13,930.2
13,687.2
12,030.9
13,788.3
13,573.4
11,922.7
13,833.6
13,586.3
11,933.2
13,976.7
13,733.6
12,075.0
14,122.2
13,855.6
12,192.5
131.6
202.8
180.4
552.0
1,372.0
768.8
603.2
771.8
893.3
387.4
441.0
2,175.7
1,889.5
1,343.5
508.9
389.5
135.8
209.8
213.2
590.5
1,545.5
886.5
659.0
845.1
957.4
415.6
495.2
2,305.3
1,989.8
1,385.0
541.3
401.3
134.0
211.0
211.9
585.6
1,521.9
865.2
656.6
831.6
947.5
416.5
486.7
2,301.3
1,955.0
1,380.8
541.1
397.9
131.7
208.3
214.6
583.7
1,548.1
894.3
653.8
853.5
951.9
414.5
499.1
2,237.5
1,971.7
1,378.1
540.4
400.0
138.6
205.3
216.6
589.3
1,548.9
892.8
656.1
837.8
957.4
415.5
504.4
2,330.6
2,003.4
1,385.6
539.4
402.3
138.9
214.7
209 5
603.5
1,563.1
893.8
669.3
857.8
972.8
415.8
490.5
2,352.0
2,029.0
1,395.5
544.4
405.1
1,643.8
251.9
1,656.3
243.0
1,650.7
214.9
1,653.0
247.3
1,658.6
243.1
1,663.0
266.6
I
1. Consists of professional, scientific, and technical services; management of companies and enterprises; and administrative and waste management services.
Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).
N o te .
Table 6.160. Corporate Profits by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
Corporate profits w ith inventory valuation and capital consum ption adjustm ents
Dom estic industries........................................................................................................................
Financial1......................................................................................................................................
Nonfinancial...................................................................................................................................
Rest o f the w o rld ..............................................................................................................................
Receipts from the rest of the w orld.............................................................................................
Less: Payments to the rest of the world.....................................................................................
Corporate profits w ith inventory valuation adjustm ent.................................................
Dom estic industries........................................................................................................................
Financial.....................
Federal Reserve banks
Other financial2....
Nonfinancial..............
Utilities...................
Manufacturing.......
Durable goods...
Fabricated metal products
Machinery....
Computer and electronic products.................................................................................
Electrical equipment, appliances, and components....................................................
Motor vehicles, bodies and trailers, and p a rts.............................................................
Other durable goods 3 ............................ ........................................................................
Nondurable goods.................................................................................................................
Food and beverage and tobacco products....................................................................
Petroleum and coal products
Chemical products...........................................................................................................
Other nondurable g oo d s4
Wholesale trade................
Retail trade.........................
Transportation and warehousing
Information.................................’ ..............................................................................................
Other nonfinancial5..................................................................................................................
Rest o f the w o rld ..............................................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
2013
II
III
IV
1,827.0
1,388.1
1,950.6
1,520.6
1,900.1
1,497.2
1,921.9
1,485.3
1,967.6
1,539.3
2,013.0
1,560.6
381.0
1,007.1
432.3
1,088.3
428.9
1,068.3
389.2
1,096.1
457.3
1,082.0
453.8
1,106.8
438.9
430.0
402.9
436.5
428.3
452.4
645.2
206.3
650.0
220.0
631.5
228.6
641.5
205.0
645.7
217.4
681.4
229.0
1,791.6
1,352.7
2,151.3
1,721.2
2,100.8
1,697.9
2,124.3
1,687.7
2,167.5
1,739.2
2,212.5
1,760.1
408.3
75.9
332.3
944.4
17.7
244.9
100.3
16.4
21.5
27.6
5.1
-12.7
42.4
144.6
34.6
40.8
50.1
19.1
96.3
108.9
45.5
85.5
345.7
484.7
73.4
411.3
1,236.5
39.1
371.7
181.2
23.9
31.8
43.9
9.6
3.9
68.0
190.5
45.5
48.7
61.6
34.7
139.3
140.0
54.4
112.4
379.7
481.2
74.5
406.6
1,216.8
38.3
363.5
174.9
23.6
30.2
42.2
10.2
3.3
65.4
188.6
47.5
45.4
63.3
32.4
134.6
138.6
56.7
109.8
375.3
441.9
74.2
367.6
1,245.8
41.3
372.8
185.7
24.4
33.3
46.2
7.6
5.0
69.2
187.1
44.8
46.2
65.0
31.1
149.6
136.4
55.0
118.6
372.2
509.6
69.4
440.1
1,229.6
42.0
367.6
181.0
23.9
34.1
43.9
9.0
3.7
66.4
186.6
45.0
48.5
57.5
35.6
130.2
138.3
54.6
118.1
378.7
506.2
75.5
430.7
1,253.9
34.6
382.9
183.1
23.7
29.8
43.3
11.7
3.7
70.9
199.9
44.8
54.7
60.6
39.8
142.7
146.4
51.3
103.2
392.6
438.9
430.0
402.9
436.5
428.3
452.4
I
1. Consists of finance and insurance and bank and other holding companies.
2. Consists of credit intermediation and related activities; securities, commodity contracts, and other financial investments and related activities; insurance carriers and related activities; funds, trusts, and other finan
cial vehicles; and bank and other holding companies.
3. Consists of wood products; nonmetallic mineral products; primary metals; other transportation equipment; furniture and related products; and miscellaneous manufacturing.
4. Consists of textile mills and textile product mills; apparel; leather and allied products; paper products; printing and related support activities; and plastics and rubber products.
5. Consists of agriculture, forestry, fishing, and hunting; mining; construction; real estate and rental and leasing; professional, scientific, and technical sen/ices; administrative and waste management services;
educational services; health care and social assistance; arts, entertainment, and recreation; accommodation and food services; and other services, except government.
N o te . Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).
National Data
D-50
May 2013
7. Supplemental Tables
Table 7.1. Selected Per Capita Product and Income Series in Current and Chained Dollars
[Dollars]
Seasonally adjusted at annual rates
Line
2012
2011
2013
2012
I
II
III
IV
I
42,954
38,082
35,999
12,244
4,033
8,210
23,755
Current dollars:
Gross domestic product.....................................................................................................
1
Personal income............................
Disposable personal income........
Personal consumption expenditures
G oods.........................................
Durable goods............................................................................................................
Nondurable goods......................................................................................................
Services...........................................................................................................................
?
3
4
5
6
7
8
9
48,314
49,121
41,493
37,013
34,384
11,617
3,674
7,943
22,767
49,907
50,680
42,660
37,964
35,381
12,038
3,879
8,159
23,344
49,384
50,070
42,202
37,573
35,119
11,983
3,843
8,140
23,136
49,642
50,430
42,448
37,781
35,250
11,917
3,823
8,094
23,333
50,263
51,036
42,618
37,925
35,460
12,056
3,875
8,182
23,404
50,336
51,182
43,370
38,576
35,695
12,193
3,972
8,220
23,502
10
11
12
13
14
15
16
17
18
42,620
43,335
32,527
30,217
10,675
4,046
6,651
19,554
312,036
43,252
43,922
32,788
30,557
10,923
4,330
6,664
19,653
314,278
43,093
43,691
32,588
30,460
10,869
4,263
6,665
19,609
313,425
43,154
43,839
32,713
30,522
10,859
4,253
6,663
19,678
313,960
43,401
44,070
32,708
30,582
10,935
4,336
6,670
19,668
314,564
43,360
44,088
33,138
30,663
11,030
4,468
6,659
19,658
315,162
50,718
Chained (2005) dollars:
Gross domestic product.....................................................................................................
Gross national product.......................................................................................................
Disposable personal income.............................................................................................
Personal consumption expenditures................................................................................
G oods..............................................................................................................................
Durable goods
Nondurable goods
Services............
Population (midperiod, thousands)........................................................................................
43,558
32,640
30,855
11,101
4,549
6,665
19,779
315,671
Table 7.2.1 B. Percent Change from Preceding Period in Real Motor Vehicle Output
[Percent]
Seasonally adjusted at annual rates
Line
2012
2011
2012
II
I
Motor vehicle output.........................................................................................
Auto output..............................................................................................................
Truck output.........
Final sales of domestic product
Personal consumption expenditures.....................................................................
New motor vehicles......
Autos............................................................................................................................
Light trucks (including utility vehicles).....................................................................
Net purchases of used autos and used light trucks..................................................
Used autos..................................................................................................................
Used light trucks (including utility vehicles)............................................................
Private fixed investment...........................................................................................
New motor vehicles
Autos.............
Trucks...........................................................................................................................
Light trucks (including utility vehicles).................................................................
O ther.......................................................................................................................
Net purchases of used autos and used light trucks..................................................
Used autos..................................................................................................................
Used light trucks (including utility vehicles)............................................................
Gross government Investment
Autos..............................
Trucks............................
Exports.............................................................................................................................
Autos.
Trucks
Imports..
Autos.
Trucks...........................................................................................................................
Change in private inventories
Foreign.........................................................................................................................
Foreign........................................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
1/
18
19
20
21
22
23
?4
2b
26
27
28
29
30
31
V
3?
34
35
SK
37
38
39
40
41
2013
III
IV
I
11.0
12.4
30.9
7.3
-8.6
6.8
9.1
4.5
14.2
24.9
6.6
89.9
8.6
-13.9
20.2
12.5
-17.9
33.4
-5.5
-4.4
17.4
17.0
5.8
6.4
8.6
7.5
14.9
-1.9
-10.6
-2.9
11.8
21.5
26.4
18.2
11.6
11.1
12.6
10.1
-2.4
-1.2
-3.3
12.7
18.7
8.7
1.5
0.2
2.5
16.4
54.7
-4.1
12.1
13.7
11.0
-6.7
-16.4
0.9
-17.9
-24.8
-12.2
7.8
11.2
5.5
20.2
17.0
22.7
21.7
33.1
14.2
36.1
40.9
32.6
11.7
-1.4
22.0
11.4
0.7
20.2
42.7
15.5
21.3
9.2
-3.4
-13.6
1.0
17.0
3.2
27.2
17.5
58.2
-12.7
-8.1
-16.6
13.6
21.6
8.9
6.6
14.4
10.5
11.3
9.7
23.2
87.6
-5.4
-11.0
7.7
27.2
87.9
-14.2
2.7
-19.2
20.1
23.7
13.0
-9.6
-28.4
15.3
3.3
14.9
-3.4
5.5
-20.2
18.9
2.1
37.4
19.3
55.2
-0.3
11.9
-24.4
117.5
81.9
154.5
8.0
-4.2
17.5
25.5
-1.0
20.8
-5.2
46.4
-2.2
-11.3
-11.9
34.9
1.7
-25.9
-10.1
-5.2
-1.6
-8.9
-11.8
-31.0
-7.5
18.9
38.0
80.7
-9.3
-30.3
-25.0
-23.5
-7.0
19.1
19.8
18.3
7.2
9.0
4.8
8.6
14.4
2.6
18.3
19.4
16.7
39.9
55.4
24.3
52.7
44.5
65.2
3.6
-0.7
8.8
-6.0
-1.5
-11.9
-19.1
-21.4
-16.6
19.2
10.5
32.8
4.9
29.6
-17.6
-11.6
-0.4
-25.6
25.2
16.1
36.7
-9.2
9.1
-32.1
13.5
10.5
9.0
8.7
9.7
13.5
35.3
10.4
15.9
27.4
82.6
60.9
-4.0
0.4
-6.4
-18.5
6.8
9.9
34.0
-8.1
11.6
31.4
17.6
54.3
7.9
9.9
10.6
-12.6
Addenda:
Final sales of motor vehicles to domestic purchasers....................................................
Private fixed investment in new autos and new light tru cks..........................................
Domestic output of new autos 2........................................................................................
Sales of imported new autos 3..........................................................................................
42
43
44
45
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of sales of imported new autos in personal consumption expenditures, in private fixed investment, and in gross government investment.
S u rvey
May 2 0 1 3
C urren t B
of
D -5 1
u s in e s s
Table 7.2.3B. Real Motor Vehicle Output, Quantity Indexes
Table 7.2.4B. Price Indexes for Motor Vehicle Output
[Index numbers, 2005=100]
[Index numbers, 2005=100]
Seasonally adjusted
Seasonally adjusted
2011
2012
1
2
3
4
86.127
74.425
92.931
87.418
96.769
92.970
99.077
93.018
96.182 97.893
92.466 89.076
98.423 103.050
92.547 92.104
95.704
91.739
98.105
91.431
97.296 99.427
98.599 97.488
96.730 100.695
95.992 100.083
6
7
fa
84.151
79.553
78.220
91.361
89.626
92.847
90.633
88.819
93.003
88.122
87.302
88.939
90.616
88.957
91.339
96.074
93.427
98.107
98.749
96.045
97.760
8
80.608
87.630
86.173
86.362
87.521
90.467
95.071
9
10
95.240
83.544
96.663
83.702
96.067
84.668
91.437
78.832
95.743 103.407 106.247
81.984 89.322 89.467
Line
2012
I
Motor vehicle output.....
Auto output....................
Truck output...................
Final sales of domestic product
Personal consumption
expenditures......................
New motor vehicles..............
A utos..................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light tru cks........
Used autos........................
Used light trucks
(including utility
vehicles)........................
Private fixed investment.......
New motor vehicles..............
A utos..................................
Trucks.................................
Light trucks (including
utility vehicles)..........
O ther..............................
Net purchases of used autos
and used light trucks........
Used autos........................
Used light trucks
(including utility
vehicles)........................
Gross government
investment..........................
A utos......................................
Trucks.....................................
Exports...................................
A utos..................................
Trucks.................................
Im ports...................................
Autos..................................
Trucks.................................
Change in private inventories...
D omestic...........................
II
III
IV
92.025
94.712
87.174
96.799
86.338
82.825
18
19
98.005 108.280 102.394
94.078 104.665 106.844
20 101.975 111.903
91.934
99.792
93.165
94.316
95.826 101.433
87.942 87.717
99.849 104.260 126.618 132.732
98.294 98.795 114.729 113.206
97.836 101.388 109.761 138.629 152.492
21
22
23
?4
25
26
27
28
29
30
11
1?
11
14
15
16
17
If i
19
4n
41
99.130
73.223
106.859
87.893
66.677
94.243
84.438
61.155
91.359
90.992
63.861
99.026
91.374
74.040
96.641
84.770
67.653
89.946
82.551
63.271
88.335
142.927
159.849
128.161
92.312
112.376
74.153
155.197
182.840
131.540
109.211
134.232
86.541
157.798
185.582
133.978
108.899
132.980
87.095
159.209
185.236
136.830
107.238
132.464
84.375
150.984
174.435
130.771
112.058
135.802
90.571
152798
186.107
124.582
108.650
135.680
84.124
161.624
193.195
134.719
106.070
138.662
76.372
42
84.020
Auto o utput....................
Truck output...................
Final sales of domestic product
Personal consumption
expenditures......................
New motor vehicles...............
Autos...................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks.........
Used a uto s........................
Used light trucks
(including utility
vehicles)........................
Private fixed investment........
New motor vehicles...............
Autos...................................
Trucks.................................
Light trucks (including
utility vehicles)..........
Other...............................
Net purchases of used autos
and used light trucks.........
Used a uto s........................
Used light trucks
(including utility
vehicles)........................
Gross government
investment..........................
Autos.......................................
Trucks.....................................
Exports...................................
Autos...................................
Trucks.................................
Imports....................................
Autos...................................
Trucks.................................
Change in private inventories. ..
Autos............................................
2012
1
2
3
4
105.034
107.039
103.841
105.041
106.901
107.780
106.244
106.899
2013
2012
I
II
III
IV
I
106.360
107.791
105.426
106.351
106.994
108.231
106.157
107.039
106.938
107.378
106.501
106.914
107.313
107.721
106.893
107.290
107.575
108.223
107.021
107.563
b 105.257 106.474 105.764 107.009 106.569 106.555 106.865
6 102.540 104.390 103.397 104.382 104.752 105.027 105.219
7 105.133 106.711 105.920 106.862 106.854 107.207 107.681
8 100.671 102.707 101.582 102.595 103.217 103.437 103.438
9 109.234 109.130 109.013 110.779 108.662 108.067 108.606
10 110.269 109.707 110.027 111.324 108.474 109.003 109.621
11
12
13
14
15
108.538
100.322
105.050
105.153
105.164
108.780
102.366
107.001
106.749
107.312
108.334
101.704
106.166
105.961
106.446
110.456
101.340
107.021
106.898
107.250
108.877
102.241
107.257
106.890
107.641
107.452
104.179
107.561
107.245
107.910
107.933
103.964
107.806
107.717
107.995
16 100.809 102.851 101.726 102.744 103.353 103.580 103.579
17 119.331 121.811 121.570 121.871 121.706 122.098 122.449
18 106.493 107.713 106.435 109.946 108.672 105.799 106.806
19 106.630 107.788 106.600 109.935 108.694 105.923 106.829
20 106.381 107.686 106.308 110.004 108.698 105.734 106.821
21
22
23
?4
25
26
27
28
29
30
11
V
13
14
15
Ifi
17
18
19
40
41
111.728 113.907 113.328 113.835 113.896 114.568 115.474
108.309 108.913 107.783 110.165 108.898 108.806 113.442
112.371 114.893 114.408 114.550 114.886 115.728 115.823
106.211
104.030
108.649
105.931
105.676
106.163
108.149
105.140
111.495
106.740
107.311
105.972
107.937
105.401
110.721
105.891
106.452
105.138
108.559
105.944
111.436
106.716
107.232
106.028
108.080
104.971
111.534
106.767
107.195
106.200
108.020
104.245
112.288
107.585
108.365
106.521
108.878
104.873
113.433
107.814
108.826
106.389
Addenda:
92.203
91.517
90.577
92.074
94.643
96.469
43 87.724 99.553 96.583 96.676 98.978 105.975 108.502
44 76.737 103.800 100.189 98.546 106.035 110.429 113.249
45 103.751 114.575 116.996 111.164 108.838 121.304 117.279
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of sales of imported new autos in personal consumption expenditures, in private fixed investment, and in
gross government investment.
Motor vehicle output.....
Net exports.............................
Addenda:
Final sales of motor vehicles to
domestic purchasers............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos 2
Sales of imported new autos 3
2011
I
11 106.564 109.230 107.093 103.664 109.095 117.067 122.571
12 85.620 98.903 98.591 100.780 99.910 96.331 96.568
13 87.133 99.016 97.013 97.673 98.473 102.904 104.907
14 89.229 108.511 107.834 102.231 105.840 118.139 116.888
15 85.784 93.410 90.647 94.894 94.086 94.012 97.875
16
17
Line
2013
Final sales of motor vehicles to
domestic purchasers.............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos 2
Sales of imported new autos 3
42 105.282 106.817 106.121 106.866 106.850 107.431 107.610
43 102.626 104.456 103.493 104.469 104.788 105.076 105.303
44 104.325 105.828 105.435 106.050 105.839 105.987 106.452
45 105.097 106.670 105.881 106.820 106.812 107.165 107.637
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of sales of imported new autos in personal consumption expenditures, in private fixed investment, and in
gross government investment.
National Data
D-52
May 2013
Table 7.2.5B. Motor Vehicle Output
Table 7.2.6B. Real Motor Vehicle Output, Chained Dollars
[Billions of dollars]
[Billions of chained (2005) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2011
2012
2012
I
428.7
437.4
448.1
150.6
282.8
149.8
278.8
144.9
293.9
148.0
280.7
159.6
277.8
158.5
289.5
Auto output....................
Truck output...................
388.0
420.2
415.9
416.6
413.0
435.2
454.9
5
6
7
320.3
351.8
346.7
341.1
349.3
370.3
381.7
Final sales of domestic product
Personal consumption
expenditures......................
203.0
80.1
232.9
96.6
228.6
96.0
226.8
92.6
231.9
95.1
244.2
102.5
251.5
102.6
8
122.9
136.3
132.6
134.2
136.8
141.7
148.9
9
10
117.3
51.3
118.9
51.2
118.1
51.9
114.3
48.9
117.3
49.6
126.0
54.3
130.2
54.7
379.0
433.4
Auto output....................
Truck output...................
2
3
4
119.7
259.3
New motor vehicles..............
A utos..................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks........
Used autos........................
Used light trucks
(including utility
vehicles)........................
Private fixed investment.......
New motor vehicles..............
A utos..................................
Trucks.................................
Light trucks (including
utility vehicles)..........
O ther..............................
Net purchases of used autos
and used light trucks........
Used autos........................
Used light trucks
(including utility
vehicles)........................
Gross government
investment..........................
Autos......................................
Trucks .....................................
Net exports..............................
Exports...................................
A utos..................................
Trucks.................................
Im ports...................................
A utos..................................
Trucks.................................
Change in private inventories...
A utos...........................................
N ew .........................................
Domestic...........................
Foreign...............................
Used........................................
Trucks..........................................
N ew .........................................
D omestic...........................
Foreign...............................
Used 1....................................
75.5
127.1
149.8
148.4
151.1
151.1
148.5
148.5
Private fixed investment........
194.9
73.0
122.0
225.5
90.1
135.5
219.2
88.8
130.4
222.5
85.0
137.5
224.8
88.0
136.9
235.6
98.5
137.1
240.7
97.9
142.8
16
17
86.0
36.0
93.5
42.0
87.6
42.8
93.3
44.2
95.1
41.8
98.0
39.1
103.8
39.1
18
19
-67.8
-32.8
-75.8
-36.9
-70.9
-37.3
-71.4
-35.4
-73.7
-35.2
-87.1
-39.8
-92.2
-39.6
20
-35.0
-38.9
-33.6
-36.0
-38.5
-47.3
-52.6
New motor vehicles...............
Autos...................................
Trucks.................................
Light trucks (including
utility vehicles)..........
Other...............................
Net purchases of used autos
and used light trucks.........
Used a uto s........................
Used light trucks
(including utility
vehicles)........................
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
66.0
67.8
66.2
65.4
67.8
71.8
16.7
15.1
14.5
15.6
15.7
14.7
14.4
Gross government
investment..........................
2.7
14.0
2.5
12.6
2.3
12.2
2.4
13.2
2.8
12.9
2.5
12.1
2.5
11.9
Autos.......................................
Trucks.....................................
-76.1
-96.6
-93.6
-91.3
-103.1
-98.3
-89.8
Net exports..............................
66.7
33.9
32.8
142.8
82.6
60.2
73.8
39.2
34.5
170.4
100.2
70.2
74.9
39.9
34.9
168.5
98.5
70.1
76.0
40.1
35.9
167.2
98.8
68.4
71.7
37.4
34.4
174.8
101.3
73.6
72.6
39.6
33.0
170.8
102.3
68.6
77.4
41.4
36.0
167.1
105.0
62.2
Exports...................................
Autos...................................
Trucks.................................
Imports....................................
Autos...................................
Trucks.................................
-9.0
13.2
12.7
22.2
15.7
2.2
-6.8
Change in private inventories ...
-5.9
-0.5
0.8
-1.3
-5.4
-3.1
3.1
3.5
-0.4
-6.1
8.1
9.5
7.5
2.0
-1.4
5.1
9.2
8.1
1.1
-4.1
6.6
7.4
5.6
1.8
-0.8
6.1
13.4
9.5
3.8
-7.3
10.1
12.3
7.9
4.4
-2.2
12.2
17.4
15.3
2.1
-5.2
11.6
13.4
9.5
3.9
-1.7
4.0
9.1
8.1
1.0
-5.1
4.2
4.9
6.9
-2.0
-0.7
-2.0
-3.1
-0.6
-2.5
1.0
4.1
6.9
5.7
1.2
-2.8
-10.9
-11.6
-12.6
1.0
0.7
Autos............................................
New..........................................
Domestic............................
Foreign................................
U sed......
Trucks.........
New........
Domestic............................
Foreign
Used 1.....................................
Residual...........................................
42
464.1
516.7
509.5
507.8
516.2
533.4
544.6
43
44
45
158.9
86.3
94.2
183.6
118.3
105.6
176.4
113.8
107.0
178.3
112.6
102.6
183.1
120.9
100.5
196.5
126.1
112.3
201.7
129.9
109.1
Addenda:
Final sales of motor vehicles to
domestic purchasers............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos 2
Sales of imported new autos 3
2012
III
IV
400.9
407.6
416.5
133.8
276.9
137.8
263.6
148.1
259.9
146.5
270.6
389.2
386.4
405.6
422.9
327.7
318.6
327.7
347.4
357.1
221.1
90.6
217.3
86.7
221.4
89.0
232.5
95.6
239.1
95.3
130.5
130.8
132.5
137.0
144.0
108.3
47.1
103.1
43.9
107.9
45.6
116.5
49.7
119.7
49.8
402.9
410.1
111.8
249.7
139.7
266.2
138.9
264.4
369.4
393.1
391.1
360.8
5
6
7
304.3
330.4
198.0
76.2
223.1
90.5
8
122.1
132.7
9
10
107.3
46.5
108.9
46.6
11
12
13
14
15
II
405.4
1
2
3
4
60.8
62.3
2013
61.1
59.1
62.2
I
66.8
69.9
126.7
146.3
145.9
149.1
147.8
142.5
142.9
185.6
69.4
116.0
210.9
84.4
126.3
206.6
83.9
122.5
208.0
79.5
128.3
209.7
82.3
127.2
219.1
91.9
127.1
223.4
90.9
132.3
16
17
85.3
30.2
90.9
34.5
86.1
35.2
90.8
36.3
92.0
34.3
94.7
32.0
100.2
31.9
18
19
-63.7
-30.8
-70.4
-34.3
-66.6
-35.0
-64.9
-32.2
-67.8
-32.3
-82.3
-37.6
-86.3
-37.1
20
-32.9
-36.1
-31.6
-32.7
-35.4
-44.7
-49.2
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
15.0
13.3
12.7
13.7
13.8
12.8
12.5
2.5
12.4
2.3
11.0
2.1
10.6
2.2
11.5
2.6
11.3
2.3
10.5
2.2
10.3
-72.0
-91.3
-89.7
-86.6
-97.3
-91.5
-83.9
62.8
32.6
30.2
134.8
78.2
56.7
68.2
37.3
31.0
159.5
93.4
66.2
69.4
37.9
31.6
159.1
92.5
66.6
70.0
37.8
32.2
156.6
92.1
64.6
66.4
35.6
30.8
163.7
94.5
69.3
67.2
38.0
29.3
158.7
94.4
64.4
71.1
39.4
31.7
154.9
96.5
58.4
-8.4
12.4
12.0
21.0
14.7
2.1
-6.3
-5.6
-0.5
0.8
-1.2
-5.1
-2.8
3.0
3.4
-0.4
-5.8
-0.5
7.6
9.0
7.2
1.9
-1.3
4.8
8.8
7.7
1.1
-3.8
-0.9
6.2
7.1
5.4
1.7
-0.8
5.8
12.8
9.1
3.6
-6.8
-0.3
9.5
11.7
7.6
4.1
-2.0
11.5
16.5
14.5
2.0
-4.7
-0.6
10.9
12.7
9.1
3.6
-1.6
3.8
8.6
7.7
1.0
-4.7
-0.9
4.0
4.7
6.7
-1.8
-0.6
-1.9
-2.9
-0.5
-2.3
1.0
-1.6
3.9
6.6
5.5
1.1
-2.6
-10.1
-10.9
-11.8
0.9
0.7
-1.7
43
440.8
483.8
480.2
475.2
483.1
496.6
506.1
44
45
46
154.9
82.7
89.6
175.8
111.9
98.9
170.5
108.0
101.0
170.7
106.2
96.0
174.7
114.3
94.0
187.1
119.0
104.8
191.6
122.1
101.3
Addenda:
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of sales of imported new autos in personal consumption expenditures, in private fixed investment, and in
gross government investment.
Motor vehicle output.....
New motor vehicles...............
Autos...................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks.........
Used a uto s........................
Used light trucks
(including utility
vehicles)........................
11
12
13
14
15
2012
I
IV
438.8
1
2011
I
III
428.6
Motor vehicle output.....
Final sales of domestic product
Personal consumption
expenditures......................
II
Line
2013
Final sales of motor vehicles to
domestic purchasers.............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos 2
Sales of imported new autos 3
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of sales of imported new autos in personal consumption expenditures, in private fixed investment, and in
gross government investment.
N o te . Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is
the difference between the first line and the sum of the most detailed lines, excluding the lines in the addenda.
May 2 0 1 3
S u rvey
of
D -5 3
C u r r e n t B u s in e s s
Table 7.5. Consumption of Fixed Capital by Legal Form of Organization and Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
Consumption of fixed capital.......................................................................
Private.........................................................................................................................
Domestic business...............................................................................................
Corporate business
Financial...................................................................................................................
Nonfinancial
Noncorporate business
Sole proprietorships and partnerships.................................................................
Farm...
Nonfarm
Other private business...........................................................................................
Rental income of persons.....
Nonfarm tenant-occupied housing
Farm tenant-occupied housing
Farms owned by nonoperator landlords......................................................
Nonfarm nonresidential properties..............................
......................
Proprietors’ income............................................................................................
Households and institutions................................................................................
Owner-occupied housing...........................................................................................
Nonprofit institutions serving households...............................................................
Government................................................................................................................
General government
Federal.......
State and local
Government enterprises
Federal.......
State and local
2011
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
1fi
17
18
19
20
21
22
23
24
25
26
27
1,936.8
1,587.4
1,285.7
1,061.9
168.2
893.7
223.8
190.7
25.2
165.5
33.0
30.6
28.0
0.3
0.3
2.0
2.5
301.7
209.5
92.2
349.4
291.0
130.0
161.0
58.4
7.0
51.4
28
1,307.5
2012
2012
2013
I
II
III
IV
I
2,011.7
1,647.8
1,339.0
1,107.5
173.9
933.5
231.5
198.1
26.5
171.7
33.4
30.9
1,984.9
1,625.9
1,321.3
1,092.6
171.8
920.8
228.7
195.6
26.1
169.5
33.2
30.6
2,004.8
1,642.0
1,335.1
1,104.3
173.6
930.8
230.7
197.5
26.4
171.1
33.3
30.8
2,019.8
1,654.2
1,344.0
1,111.6
174.4
937.1
232.4
198.9
26.6
172.3
33.5
31.0
2,037.4
1,669.0
1,355.6
1,121.4
175.9
945.5
234.2
200.5
26.7
173.8
33.7
31.2
2,060.5
1,688.8
1,371.3
1,134.6
178.3
956.3
236.7
202.6
26.8
175.8
34.1
31.5
2.5
308.8
213.2
95.6
363.9
302.3
134.2
168.1
61.6
7.3
54.3
2.5
304.6
210.2
94.4
359.0
298.5
132.5
165.9
60.5
7.2
53.3
2.5
306.9
211.7
95.2
362.8
301.5
133.8
167.7
61.3
7.3
54.0
2.5
310.2
214.2
96.0
365.6
303.5
134.6
168.9
62.1
7.3
54.7
2.5
313.4
216.7
96.7
368.4
305.7
135.9
169.8
62.7
7.4
55.3
2.6
317.6
220.1
97.5
371.6
308.2
137.3
170.9
63.4
7.5
55.9
1,361.9
1,343.7
1,357.8
1,367.0
1,379.1
1,395.2
...........
...........
...........
...........
Addendum:
Nonfarm business...........................................................................................................
D-54
May 2013
B. N IPA -R elated Table
Table B. 1 presents the m ost recent estimates o f personal incom e and its disposition. These estimates were released on April
29, 2013.
Table B.1 Personal Income and Its Disposition
2012
2011
2013
2012
Feb.
March
April
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
J a n .r
Feb.r
March
p
Personal income.................................................................. 12,947.3 13,407.2 13,234.7 13,298.3 13,302.9 13,322.3 13,355.9 13,376.9 13,395.7 13,446.0 13,452.4 13,597.6 13,955.5 13,448.3 13,599.5 13,630.4
Compensation of employees, received....................................
Wage and salary disbursements..........................................
Private industries................................................................
Goods-producing industries.........................................
Manufacturing............................................................
Service-producing industries.......................................
Trade, transportation, and utilities..........................
Other services-producing industries......................
Government........................................................................
Supplements to wages and salaries....................................
Employer contributions for employee pension and
insurance funds.............................................................
Employer contributions for government social
insurance........................................................................
Proprietors’ income with IVA and CC Adj.................................
Farm .........................................................................................
Nonfarm...................................................................................
Rental income of persons with CCAdj.....................................
Personal income receipts on assets.........................................
Personal interest income.......................................................
Personal dividend incom e.....................................................
Personal current transfer receipts.............................................
Government social benefits to persons...............................
Social security1............................
Medicare2......................................
Medicaid........................................
Unemployment insurance............
Veterans’ benefits.........................
O ther..............................................
Other current transfer receipts, from business (net)..........
Less: Contributions for government social insurance............
Less: Personal current taxes..............................................
8,295.2
6,661.3
5,466.0
1,108.6
706.6
4,357.4
1,050.1
3,307.3
1,195.3
1,633.9
8,565.8
6,880.7
5,679.2
1,158.3
740.0
4,521.0
1,101.8
3,419.2
1,201.5
1,685.1
8,501.7
6,831.5
5,632.1
1,145.6
723.5
4,486.4
1,086.4
3,400.0
1,199.4
1,670.2
8,544.6
6,869.4
5,669.2
1,153.0
729.2
4,516.2
1,088.7
3,427.5
1,200.2
1,675.2
8,525.2
6,848.9
5,648.7
1,160.2
740.3
4,488.5
1,093.6
3,394.9
1,200.1
1,676.3
8,518.2
6,840.3
5,640.6
1,158.2
742.3
4,482.4
1,097.3
3,385.2
1,199.6
1,678.0
8,539.7
6,858.5
5,658.7
1,166.9
750.3
4,491.8
1,104.2
3,387.6
1,199.7
1,681.2
8,557.7
6,872.5
5,671.8
1,167.9
751.0
4,503.9
1,100.8
3,403.1
1,200.7
1,685.2
8,572.1
6,883.4
5,679.5
1,158.2
744.0
4,521.2
1,104.9
3,416.3
1,203.9
1,688.7
8,603.2
6,909.7
5,704.5
1,160.3
743.6
4,544.2
1,109.9
3,434.3
1,205.2
1,693.5
8,588.7
6,893.4
5,690.1
1,154.3
740.1
4,535.8
1,109.4
3,426.4
1,203.4
1,695.2
8,670.3
6,967.1
5,763.7
1,165.3
746.5
4,598.4
1,124.2
3,474.2
1,203.4
1,703.3
8,727.4
7,017.3
5,813.0
1,175.6
753.3
4,637.4
1,127.6
3,509.9
1,204.4
1,710.0
8,693.4
6,977.6
5,772.2
1,171.4
749.8
4,600.8
1,129.6
3,471.2
1,205.4
1,715.8
8,745.3
7,023.8
5,816.8
1,186.5
759.6
4,630.3
1,136.8
3,493.5
1,207.1
1,721.5
8,763.9
7,039.2
5,831.7
1,186.4
759.3
4,645.3
1,140.3
3,505.0
1,207.5
1,724.7
1,139.0
1,172.1
1,159.5
1,162.3
1,164.9
1,167.7
1,170.4
1,173.2
1,176.3
1,179.3
1,182.2
1,185.0
1,188.0
1,190.8
1,193.3
1,195.3
494.9
1,157.3
54.6
1,102.8
409.7
1,685.1
1,008.8
676.3
2,319.2
2,274.3
713.3
545.1
403.9
108.0
63.3
440.8
44.9
919.3
512.9
1,202.3
56.2
1,146.1
462.6
1,749.7
992.6
757.0
2,375.1
2,329.2
762.2
562.0
415.3
80.9
72.3
436.5
45.9
948.3
510.6
1,188.6
52.3
1,136.3
445.3
1,695.8
991.8
704.0
2,346.5
2,301.2
752.1
555.7
397.7
94.1
68.5
433.1
45.3
943.2
512.9
1,190.4
51.4
1,139.0
451.3
1,703.2
994.9
708.3
2,356.2
2,310.9
758.2
557.9
400.3
91.0
70.7
432.8
45.4
947.4
511.4
1,192.3
51.9
1,140.3
451.7
1,717.3
1,000.5
716.8
2,361.2
2,315.4
756.8
556.2
408.1
89.5
71.1
433.8
45.8
944.8
510.3
1,196.5
52.5
1,144.0
452.8
1,733.6
1,006.1
727.4
2,364.7
2,319.0
756.8
557.4
415.7
83.6
71.9
433.7
45.7
943.5
510.8
1,196.0
53.1
1,142.9
454.1
1,741.4
1,011.8
729.7
2,369.7
2,323.9
764.6
557.2
417.8
78.4
71.6
434.3
45.8
945.0
512.0
1,197.9
56.2
1,141.7
462.1
1,723.0
993.6
729.5
2,383.0
2,337.0
762.1
564.1
421.8
78.0
73.8
437.3
46.0
946.9
512.4
1,203.6
59.4
1,144.2
470.9
1,713.8
975.3
738.5
2,383.3
2,337.2
759.7
566.4
425.2
74.4
74.7
436.8
46.1
948.0
514.2
1,214.8
62.6
1,152.2
479.9
1,701.7
957.1
744.6
2,397.6
2,351.3
773.6
568.0
425.7
72.4
73.6
438.1
46.3
951.1
513.1
1,216.0
61.6
1,154.4
480.1
1,728.1
977.2
750.9
2,389.1
2,342.7
763.3
566.9
425.1
70.7
75.1
441.7
46.4
949.5
518.3
1,225.9
60.7
1,165.3
481.9
1,783.3
997.2
786.1
2,394.7
2,348.2
768.0
567.5
425.4
71.7
74.4
441.1
46.6
958.5
522.0
1,232.1
59.7
1,172.4
482.5
2,064.6
1,017.2
1,047.4
2,413.7
2,367.0
781.7
572.9
425.8
69.8
74.5
442.3
46,7
964.9
525.0
1,243.8
66.0
1,177.8
490.3
1,690.3
1,005.4
684.9
2,422.5
2,375.5
785.0
576.8
425.0
66.9
77.3
444.6
47.0
1,092.0
528.2
1,260.9
72.3
1,188.6
499.4
1,758.5
993.5
765.0
2,433.8
2,386.7
789.3
581.8
426.6
65.1
79.5
444.2
47.2
1,098.4
529.4
1,269.7
78.6
1,191.1
508.9
1,751.2
981.7
769.5
2,437.5
2,390.2
795.7
582.7
427.8
60.9
78.5
444.6
47.3
1,100.8
1,398.0
1,475.8
1,452.0
1,460.6
1,461.6
1,464.1
1,470.0
1,472.7
1,475.4
1,481.3
1,487.6
1,508.1
1,536.7
1,523.2
1,540.3
1,550.5
Equals: Disposable personal income................................ 11,549.3 11,931.4 11,782.7 11,837.7 11,841.3 11,858.2 11,885.9 11,904.2 11,920.3 11,964.7 11,964.8 12,089.5 12,418.8 11,925.1 12,059.1 12,079.8
Less: Personal outlays........................................................ 11,059.9 11,460.3 11,367.2 11,400.8 11,423.6 11,400.7 11,394.1 11,440.2 11,477.4 11,566.4 11,562.7 11,597.1 11,615.2 11,645.1 11,728.2 11,750.8
Personal consumption expenditures......................................... 10,729.0 11,119.6 11,025.8 11,054.1 11,080.3 11,061.7 11,059.5 11,102.6 11,137.2 11,223.4 11,219.9 11,255.1 11,273.9 11,302.5 11,384.1 11,405.1
Goods....................................................................................... 3,624.8 3,783.2 3,765.7 3,780.2 3,769.3 3,734.1 3,721.0 3,741.6 3,785.8 3,850.2 3,834.6 3,843.2 3,850.5 3,846.8 3,890.5 3,857.7
Durable goods....................................................................
1,146.4 1,218.9 1,208.8 1,207.1 1,202.0 1,199.1 1,199.7 1,202.8 1,214.3 1,239.5 1,225.4 1,259.3 1,271.3 1,272.8 1,274.9 1,271.9
Nondurable goods.............................................................
2,478.4 2,564.2 2,556.9 2,573.1 2,567.3 2,535.0 2,521.3 2,538.8 2,571.5 2,610.7 2,609.1 2,583.9 2,579.2 2,574.0 2,615.5 2,585.7
Services.................................................................................. 7,104.2 7,336.5 7,260.1 7,273.9 7,311.0 7,327.6 7,338.4 7,361.1 7,351.4 7,373.3 7,385.3 7,411.9 7,423.4 7,455.7 7,493.6 7,547.4
Personal interest payments3 .....................................................
168.0
172.7
175.4
180.4
175.8
171.2
166.7
171.6
174.1
173.4
169.1
172.6
175.1
176.7
171.9
173.5
Personal current transfer payments..........................................
166.1
162.8
168.0
166.3
167.5
167.7
168.4
168.6
168.8
168.0
169.5
169.4
169.4
169.0
169.1
169.0
To government........................................................................
90.5
88.9
91.5
90.8
91.1
91.3
91.6
92.1
91.8
92.3
92.3
92.3
92.2
92.1
92.1
92.0
To the rest of the world (net).................................................
73.9
76.4
75.5
75.5
76.4
76.4
76.4
77.1
76.6
76.6
76.6
77.1
77.1
77.0
77.0
77.0
Equals: Personal saving.....................................................
Personal saving as percentage of disposable personal
income...............................................................................
489.4
4.2
471.1
415.4
436.8
3.9
3.5
3.7
417.7
3.5
457.5
491.8
3.9
4.1
464.1
442.8
398.3
402.2
492.4
803.6
280.0
330.9
329.1
3.9
3.7
3.3
3.4
4.1
6.5
2.3
2.7
2.7
Addenda:
Personal income excluding current transfer receipts:
Billions of chained (2005) dollars .......................................
9,340.0 9,527.8 9,440.8 9,465.6 9,463.9 9,496.6 9,513.5 9,514.1 9,496.6 9,497.4 9,495.1 9,628.1 9,919.2 9,471.0 9,553.4 9,589.3
Disposable personal income:
Billions of chained (2005) dollars4........................................ 10,149.7 10,304.4 10,216.4 10,240.4 10,242.0 10,277.2 10,292.6 10,301.9 10,279.6 10,285.1 10,268.9 10,390.1 10,672.9 10,243.4 10,317.9 10,349.2
Per capita:
Current dollars....................................................................
37,749 37,738 37,770 37,835 37,869
37,013 37,964 37,594
37,895
38,010 37,986 38,359
39,382
37,797 38,202
38,247
Chained (2005 dollars)......................................................
32,527 32,788 32,596 32,655
32,641
32,734 32,763 32,772
32,679
32,674
32,602 32,967 33,846
32,686
32,767
32,467
Population (midperiod, thousands)5......................................... 312,036 314,278 313,422 313,593 313,773 313,957 314,150 314,353 314,562 314,777 314,981 315,165 315,341 315,507 315,668 315,839
Personal consumption expenditures:
Billions of chained (2005) d ollars......................................... 9,428.8 9,603.3 9,560.1 9,562.5 9,583.8 9,586.9 9,577.0 9,608.2 9,604.3 9,647.8 9,629.5 9,673.0 9,689.0 9,708.7 9,740.3 9,771.1
Goods..................................................................................
3,331.0 3,432.9 3,412.4 3,415.1 3,415.3 3,410.3 3,402.6 3,420.6 3,432.5 3,465.9 3,447.8 3,481.8 3,498.7 3,501.7 3,510.2 3,500.8
Durable goods................................................................ 1,262.6 1,360.9 1,340.2 1,340.2 1,336.8 1,333.2 1,335.8 1,343.5 1,358.7 1,389.8 1,376.1 1,416.0 1,432.7 1,433.8 1,437.5 1,436.9
Nondurable goods......................................................... 2,075.2 2,094.5 2,091.0 2,093.5 2,096.2 2,094.3 2,085.4 2,096.0 2,095.6 2,103.0 2,096.7 2,098.4 2,101.4 2,103.3 2,108.3 2,100.4
Services.............................................................................. 6,101.5 6,176.6 6,153.5 6,153.3 6,173.9 6,181.6 6,179.0 6,192.8 6,177.9 6,189.5 6,188.4 6,199.2 6,199.3 6,215.6 6,238.5 6,277.1
Implicit price deflator, 2005=100.......................................... 113.790 115.789 115.331 115.598 115.615 115.384 115.480 115.553 115.961 116.331 116.515 116.356 116.358 116.417 116.876 116.723
Percent change from preceding period:
Personal income, current dollars.......................................
Disposable personal income:
Current dollars........................................................................
Chained (2005) dollars..........................................................
Personal consumption expenditures:
Current dollars.............................................................................
Chained (2005) dollars..............................................................
5.1
3.6
0.7
0.5
0.0
0.1
0.3
0.2
0.1
0.4
0.0
1.1
2.6
-3.6
1.1
0.2
3.8
1.3
3.3
1.5
0.6
0.3
0.5
0.2
0.0
0.0
0.1
0.3
0.2
0.2
0.2
0.1
0.1
-0.2
0.4
0.1
0.0
-0.2
1.0
1.2
2.7
2.7
-4.0
-4.0
1.1
0.7
0.2
0.3
5.0
2.5
3.6
1.9
0.8
0.4
0.3
0.0
0.2
0.2
-0.2
0.0
0.0
-0.1
0.4
0.3
0.3
0.0
0.8
0.5
0.0
-0.2
0.3
0.5
0.2
0.2
0.3
0.2
0.7
0.3
0.2
0.3
p Preliminary
r Revised
CCAdj Capital consumption adjustment
IVA Inventory valuation adjustment
1. Social security benefits include old-age, survivors, and disability insurance benefits that are distributed
from the federal old-age and survivors insurance trust fund and the disability insurance trust fund.
2. Medicare benefits include hospital and supplementary medical insurance benefits that are distributed from
the federal hospital insurance trust fund and the supplementary medical insurance trust fund.
3. Consists of nonmortgage interest paid by households.
4. Equals disposable personal income deflated by the implicit price deflator for personal consumption expen
ditures.
5. Population is the total population of the United States, including the Armed Forces overseas and the insti
tutionalized population. The monthly estimate is the average of estimates for the first of the month and the first
of the following month; the annual estimate is the average of the monthly estimates.
Source: U.S. Bureau of Economic Analysis.
D-55
May 2013
C. Historical Measures
This table is derived from the “Selected NIPA Tables” that are published in this issue and from the “GDP and Other
Major NIPA Series” tables that were published in the August 2012 issue. (The changes in prices are calculated from
indexes expressed to three decimal places.)
Table C.1. GDP and Other Major NIPA Aggregates—Continues
[Q uarterly estim ates are seasonally adjusted at annual rates]
Billions of chained (2005) dollars
Year
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Percent change from
preceding period
Real gross
domestic
product
Chain-type price indexes
[2005=100]
Real final
sales of
domestic
product
Implicit price deflators
[2005=100]
Percent change from preceding period
Chain-type price index
Gross
domestic
product
Gross
domestic
purchases
Gross
domestic
product
Gross
national
product
Gross
domestic
product
Gross
domestic
purchases
Implicit pric e deflators
Gross
domestic
product
Gross
national
product
1959
......................
2,760.1
2,761.6
2,778.1
7.2
6.3
18.363
17.987
18.355
18.336
1.1
1.2
1.2
1.2
1960
1961
1962
1963
1964
......................
......................
......................
......................
......................
2,828.5
2,894.4
3,069.8
3,204.0
3,389.4
2,834.2
2,902.1
3,062.3
3,199.9
3,390.8
2,848.2
2,916.1
3,094.1
3,230.1
3,417.5
2.5
2.3
6.1
4.4
5.8
2.6
2.4
5.5
4.5
6.0
18.620
18.830
19.087
19.290
19.589
18.235
18.428
18.670
18.887
19.191
18.612
18.821
19.078
19.281
19.580
18.592
18.802
19.060
19.264
19.563
1.4
1.1
1.4
1.1
1.6
1.4
1.1
1.3
1.2
1.6
1.4
1.1
1.4
1.1
1.6
1.4
1.1
1.4
1.1
1.6
1965
1966
1967
1968
1969
......................
......................
......................
......................
......................
3,607.0
3,842.1
3,939.2
4,129.9
4,258.2
3,587.6
3,803.4
3,920.0
4,115.8
4,245.0
3,636.4
3,869.8
3,967.7
4,160.6
4,288.0
6.4
6.5
2.5
4.8
3.1
5.8
6.0
3.1
5.0
3.1
19.945
20.511
21.142
22.040
23.130
19.524
20.071
20.654
21.526
22.582
19.936
20.502
21.133
22.031
23.119
19.920
20.486
21.116
22.015
23.101
1.8
2.8
3.1
4.2
4.9
1.7
2.8
2.9
4.2
4.9
1.8
2.8
3.1
4.2
4.9
1.8
2.8
3.1
4.3
4.9
1970
1971
1972
1973
1974
......................
......................
......................
......................
......................
4,266.3
4,409.5
4,643.8
4,912.8
4,885.7
4,284.3
4,403.6
4,636.7
4,884.0
4,870.0
4,295.8
4,442.2
4,678.9
4,960.3
4,939.8
0.2
3.4
5.3
5.8
-0.6
0.9
2.8
5.3
5.3
-0.3
24.349
25.567
26.670
28.148
30.695
23.798
25.021
26.134
27.647
30.484
24.338
25.554
26.657
28.136
30.690
24.320
25.537
26.639
28.121
30.669
5.3
5.0
4.3
5.5
9.0
5.4
5.1
4.4
5.8
10.3
5.3
5.0
4.3
5.5
9.1
5.3
5.0
4.3
5.6
9.1
1975
1976
1977
1978
1979
......................
......................
......................
......................
......................
4,875.4
5,136.9
5,373.1
5,672.8
5,850.1
4,922.1
5,115.9
5,340.3
5,634.9
5,836.2
4,917.2
5,186.8
5,429.1
5,728.4
5,925.2
-0.2
5.4
4.6
5.6
3.1
1.1
3.9
4.4
5.5
3.6
33.606
35.535
37.796
40.447
43.811
33.328
35.238
37.617
40.286
43.833
33.591
35.519
37.783
40.435
43.798
33.570
35.502
37.767
40.419
43.782
9.5
5.7
6.4
7.0
8.3
9.3
5.7
6.8
7.1
8.8
9.5
5.7
6.4
7.0
8.3
9.5
5.8
6.4
7.0
8.3
1980
1981
1982
1983
1984
......................
......................
......................
......................
......................
5,834.0
5,982.1
5,865.9
6,130.9
6,571.5
5,873.6
5,954.4
5,918.2
6,167.6
6,490.0
5,908.3
6,047.3
5,934.0
6,197.1
6,634.1
-0.3
2.5
-1.9
4.5
7.2
0.6
1.4
-0.6
4.2
5.2
47.817
52.326
55.514
57.705
59.874
48.448
52.909
55.906
57.865
59.904
47.791
52.270
55.459
57.652
59.817
47.769
52.251
55.438
57.635
59.800
9.1
9.4
6.1
3.9
3.8
10.5
9.2
5.7
3.5
3.5
9.1
9.4
6.1
4.0
3.8
9.1
9.4
6.1
4.0
3.8
1985
1986
1987
1988
1989
......................
......................
......................
......................
......................
6,843.4
7,080.5
7,307.0
7,607.4
7,879.2
6,833.1
7,092.7
7,289.9
7,601.3
7,860.8
6,888.0
7,110.4
7,335.9
7,643.9
7,917.3
4.1
3.5
3.2
4.1
3.6
5.3
3.8
2.8
4.3
3.4
61.686
63.057
64.818
67.047
69.579
61.605
63.000
64.978
67.215
69.765
61.628
62.991
64.819
67.046
69.577
61.614
62.973
64.804
67.031
69.570
3.0
2.2
2.8
3.4
3.8
2.8
2.3
3.1
3.4
3.8
3.0
2.2
2.9
3.4
3.8
3.0
2.2
2.9
3.4
3.8
1990
1991
1992
1993
1994
......................
......................
......................
......................
......................
8,027.1
8,008.3
8,280.0
8,516.2
8,863.1
8,025.8
8,027.9
8,277.2
8,508.0
8,801.7
8,075.0
8,048.8
8,319.4
8,556.0
8,893.0
1.9
-0.2
3.4
2.9
4.1
2.1
0.0
3.1
2.8
3.5
72.274
74.826
76.602
78.288
79.935
72.601
74.980
76.788
78.404
80.029
72.262
74.824
76.598
78.290
79.940
72.260
74.819
76.586
78.291
79.942
3.9
3.5
2.4
2.2
2.1
4.1
3.3
2.4
2.1
2.1
3.9
3.5
2.4
2.2
2.1
3.9
3.5
2.4
2.2
2.1
1995
1996
1997
1998
1999
......................
......................
......................
......................
......................
9,086.0
9,425.8
9,845.9
10,274.7
10,770.7
9,065.4
9,404.4
9,774.2
10,208.3
10,706.5
9,121.7
9,463.1
9,873.4
10,295.3
10,802.9
2.5
3.7
4.5
4.4
4.8
3.0
3.7
3.9
4.4
4.9
81.602
83.154
84.627
85.580
86.840
81.743
83.220
84.468
85.034
86.377
81.606
83.159
84.628
85.584
86.842
81.611
83.166
84.630
85.581
86.840
2.1
1.9
1.8
1.1
1.5
2.1
1.8
1.5
0.7
1.6
2.1
1.9
1.8
1.1
1.5
2.1
1.9
1.8
1.1
1.5
2000
2001
2002
2003
2004
......................
......................
......................
......................
......................
11,216.4
11,337.5
11,543.1
11,836.4
12,246.9
11,158.0
11,382.0
11,533.6
11,820.5
12,181.3
11,259.2
11,395.0
11,597.1
11,909.9
12,341.6
4.1
1.1
1.8
2.5
3.5
4.2
2.0
1.3
2.5
3.1
88.724
90.731
92.192
94.134
96.784
88.537
90.198
91.498
93.584
96.415
88.723
90.727
92.196
94.135
96.786
88.720
90.725
92.191
94.131
96.782
2.2
2.3
1.6
2.1
2.8
2.5
1.9
1.4
2.3
3.0
2.2
2.3
1.6
2.1
2.8
2.2
2.3
1.6
2.1
2.8
2005
2006
2007
2008
2009
......................
......................
......................
......................
......................
12,623.0
12,958.5
13,206.4
13,161.9
12,757.9
12,573.0
12,899.3
13,177.5
13,200.5
12,899.7
12,720.1
13,028.3
13,322.0
13,316.9
12,889.0
3.1
2.7
1.9
-0.3
-3.1
3.2
2.6
2.2
0.2
-2.3
100.000
103.237
106.231
108.565
109.532
100.000
103.354
106.402
109.858
109.620
100.000
103.231
106.227
108.582
109.529
100.000
103.234
106.230
108.589
109.529
3.3
3.2
2.9
2.2
0.9
3.7
3.4
2.9
3.2
-0.2
3.3
3.2
2.9
2.2
0.9
3.3
3.2
2.9
2.2
0.9
2010
2011
2012
......................
......................
......................
13,063.0
13,299.1
13,593.2
13,010.3
13,265.3
13,539.4
13,253.4
13,522.0
13,803.8
2.4
1.8
2.2
0.9
2.0
2.1
111.002
113.369
115.388
111.421
114.208
116.154
110.993
113.359
115.387
110.977
113.353
115.387
1.3
2.1
1.8
1.6
2.5
1.7
1.3
2.1
1.8
1.3
2.1
1.8
National Data
D-56
May 2013
Table C.1. GDP and Other Major NIPA Aggregates—Continues
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (2005) dollars
Year and Quarter
Gross
domestic
product
............
1959:
I
II ....................
I ll...................
IV...................
1960:
I
I I ....................
I ll...................
IV...................
1961:
I
I I
II I
IV...................
1962:
I
II....................
II I
I V
1963:
I
I I ....................
I ll...................
IV...................
1964:
I
I I
II I
IV...................
1965:
I
II ....................
II I
I V
1966:
I
I I
II I
IV...................
1967:
I
II....................
I ll...................
IV...................
1968:
I
II....................
I ll...................
IV...................
1969:
I
I I
II I
IV...................
1970:
I
II....................
I ll...................
IV...................
1971:
I
II....................
I ll...................
IV...................
1972:
I
I I ....................
I ll...................
IV...................
1973:
I
II....................
I l l ...................
IV...................
1974:
I
I I
II I
IV...................
1975:
I
I I
II I
IV...................
1976:
I
II....................
I ll...................
IV...................
1977:
I
II....................
I ll...................
IV...................
............
............
............
............
............
............
............
............
............
............
............
............
............
............
............
............
............
............
Final sales of
domestic
product
Gross
national
product
Chain-type price indexes
[2005=100]
Percent change from
preceding period
Real gross
domestic
product
Real final
sales of
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
[2005=100]
Gross
domestic
product
Gross
national
product
Percent change from preceding period
Chain-type price index
Implicit price deflators
Gross
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
national
product
2.708.0
2,776.4
2.773.1
2,782.8
2,712.4
2.759.1
2,792.7
2.782.2
2,725.1
2,793.6
2,791.5
2,802.2
8.3
10.5
-0.5
1.4
8.5
7.1
5.0
-1.5
18.283
18.325
18.385
18.461
17.907
17.952
18.007
18.081
18.297
18.314
18.366
18.443
18.277
18.295
18.347
18.423
1.5
0.9
1.3
1.7
1.6
1.0
1.2
1.7
0.6
0.4
1.1
1.7
0.6
0.4
1.1
1.7
2,845.3
2,832.0
2,836.6
2,800.2
2,812.6
2,839.4
2,835.4
2,849.3
2.864.0
2.851.1
2,856.5
2.821.2
9.3
-1.9
0.7
-5.0
4.4
3.9
-0.6
2.0
18.499
18.577
18.662
18.742
18.115
18.193
18.276
18.356
18.521
18.579
18.648
18.700
18.502
18.560
18.628
18.680
0.8
1.7
1.8
1.7
0.8
1.7
1.8
1.8
1.7
1.3
1.5
1.1
1.7
1.3
1.5
1.1
2,816.9
2,869.6
2,915.9
2,975.3
2,851.6
2,882.2
2.904.4
2.970.4
2,839.0
2,890.6
2,937.5
2,997.3
2.4
7.7
6.6
8.4
0.3
4.4
3.1
9.4
18.766
18.802
18.851
18.900
18.376
18.398
18.447
18.489
18.743
18.785
18.843
18.908
18.723
18.765
18.824
18.890
0.5
0.8
1.0
1.0
0.4
0.5
1.1
0.9
0.9
0.9
1.2
1.4
0.9
0.9
1.3
1.4
3,028.7
3,062.1
3,090.4
3,097.9
3,006.7
3.057.9
3,081.6
3.102.9
3.050.5
3,086.0
3.114.6
3,125.4
7.4
4.5
3.7
1.0
5.0
7.0
3.1
2.8
19.009
19.057
19.108
19.175
18.585
18.643
18.691
18.760
19.020
19.047
19.092
19.152
19.002
19.029
19.074
19.135
2.3
1.0
1.1
1.4
2.1
1.3
1.0
1.5
2.4
0.6
0.9
1.3
2.4
0.6
0.9
1.3
3,138.4
3,177.7
3,237.6
3,262.2
3,123.5
3.176.5
3,232.9
3.266.5
3,164.7
3,203.2
3,263.5
3,288.9
5.3
5.1
7.7
3.1
2.7
7.0
7.3
4.2
19.229
19.248
19.283
19.399
18.819
18.843
18.884
19.002
19.196
19.233
19.272
19.418
19.179
19.216
19.255
19.401
1.1
0.4
0.7
2.4
1.3
0.5
0.9
2.5
0.9
0.8
0.8
3.1
0.9
0.8
0.8
3.1
3.335.4
3,373.7
3.419.5
3,429.0
3,337.9
3,377.6
3,419.4
3,428.3
3,364.4
3,401.6
3,448.3
3,455.9
9.3
4.7
5.5
1.1
9.0
4.8
5.1
1.0
19.469
19.534
19.631
19.721
19.076
19.146
19.232
19.312
19.477
19.529
19.607
19.703
19.459
19.512
19.590
19.686
1.5
1.3
2.0
1.8
1.6
1.5
1.8
1.7
1.2
1.1
1.6
2.0
1.2
1.1
1.6
2.0
3,513.3
3,560.9
3,633.2
3,720.8
3,482.6
3,545.5
3.612.1
3.710.2
3,543.6
3,592.2
3,662.4
3,747.6
10.2
5.5
8.4
10.0
6.5
7.4
7.7
11.3
19.805
19.893
19.980
20.103
19.380
19.466
19.557
19.691
19.801
19.887
19.960
20.088
19.785
19.871
19.944
20.073
1.7
1.8
1.8
2.5
1.4
1.8
1.9
2.8
2.0
1.7
1.5
2.6
2.0
1.8
1.5
2.6
3,812.2
3,824.9
3,850.0
3,881.2
3.772.1
3.789.2
3,820.7
3,831.5
3,839.9
3,852.6
3,877.2
3,909.5
10.2
1.3
2.7
3.3
6.8
1.8
3.4
1.1
20.227
20.418
20.608
20.790
19.801
19.990
20.163
20.329
20.218
20.391
20.601
20.791
20.203
20.375
20.585
20.775
2.5
3.8
3.8
3.6
2.3
3.9
3.5
3.3
2.6
3.5
4.2
3.7
2.6
3.4
4.2
3.7
3,915.4
3,916.2
3.947.5
3.977.6
3,870.3
3,911.6
3,931.6
3,966.4
3.943.4
3.943.5
3,977.4
4,006.7
3.6
0.1
3.2
3.1
4.1
4.3
2.1
3.6
20.892
21.020
21.212
21.445
20.410
20.535
20.725
20.948
20.886
20.997
21.203
21.438
20.870
20.981
21.187
21.421
2.0
2.5
3.7
4.5
1.6
2.5
3.8
4.4
1.8
2.1
4.0
4.5
1.8
2.1
4.0
4.5
4,059.5
4,128.5
4,156.7
4,174.7
4,049.4
4,090.1
4,148.7
4,175.1
4,089.4
4,158.9
4,188.1
4,205.9
8.5
7.0
2.8
1.7
8.6
4.1
5.9
2.6
21.676
21.918
22.130
22.437
21.173
21.395
21.618
21.919
21.672
21.899
22.115
22.426
21.656
21.883
22.099
22.409
4.4
4.5
3.9
5.7
4.4
4.3
4.2
5.7
4.4
4.3
4.0
5.7
4.5
4.3
4.0
5.7
4,240.5
4,252.8
4,279.7
4,259.6
4,218.2
4,239.0
4,260.9
4,261.7
4,271.7
4,283.0
4,308.6
4,288.5
6.5
1.2
2.6
-1.9
4.2
2.0
2.1
0.1
22.663
22.966
23.299
23.591
22.128
22.426
22.743
23.032
22.660
22.952
23.280
23.581
22.642
22.934
23.262
23.562
4.1
5.5
5.9
5.1
3.9
5.5
5.8
5.2
4.2
5.3
5.8
5.3
4.2
5.3
5.8
5.3
4,252.9
4,260.7
4,298.6
4,253.0
4,273.3
4,265.1
4.303.3
4.295.3
4,282.5
4,291.2
4.328.7
4.280.7
-0.6
0.7
3.6
-4.2
1.1
-0.8
3.6
-0.7
23.918
24.261
24.453
24.763
23.366
23.690
23.912
24.225
23.915
24.247
24.438
24.752
23.897
24.229
24.420
24.733
5.7
5.9
3.2
5.2
5.9
5.7
3.8
5.3
5.8
5.7
3.2
5.2
5.8
5.7
3.2
5.2
4,370.3
4,395.1
4,430.2
4,442.5
4,348.5
4,378.5
4,417.1
4,470.3
4,402.9
4.429.4
4.461.4
4,475.3
11.5
2.3
3.2
1.1
5.0
2.8
3.6
4.9
25.136
25.473
25.727
25.932
24.584
24.915
25.187
25.399
25.126
25.455
25.711
25.918
25.108
25.437
25.694
25.900
6.2
5.5
4.0
3.2
6.1
5.5
4.4
3.4
6.2
5.3
4.1
3.3
6.2
5.3
4.1
3.2
4,521.9
4,629.1
4.673.5
4.750.5
4,532.4
4,607.7
4,649.2
4,757.4
4,556.1
4,662.9
4,710.0
4,786.8
7.3
9.8
3.9
6.8
5.7
6.8
3.7
9.6
26.356
26.508
26.751
27.064
25.797
25.974
26.229
26.536
26.319
26.475
26.731
27.083
26.301
26.457
26.713
27.067
6.7
2.3
3.7
4.8
6.4
2.8
4.0
4.8
6.3
2.4
3.9
5.4
6.3
2.4
3.9
5.4
4.872.0
4,928.4
4.902.1
4,948.8
4,861.7
4.885.5
4.891.6
4,897.2
4.913.7
4.972.8
4,953.7
5,000.8
10.6
4.7
-2.1
3.9
9.1
2.0
0.5
0.5
27.418
27.875
28.407
28.894
26.885
27.391
27.895
28.415
27.403
27.828
28.370
28.932
27.388
27.813
28.354
28.917
5.3
6.8
7.9
7.0
5.4
7.7
7.6
7.7
4.8
6.3
8.0
8.2
4.8
6.4
8.0
8.2
4,905.4
4,918.0
4,869.4
4,850.2
4,891.2
4,896.6
4.881.5
4.810.6
4,966.3
4,975.6
4,921.9
4,895.5
-3.5
1.0
-3.9
-1.6
-0.5
0.4
-1.2
-5.7
29.491
30.151
31.090
32.050
29.170
30.006
30.929
31.832
29.488
30.192
31.085
32.015
29.470
30.172
31.064
31.991
8.5
9.3
13.1
12.9
11.1
12.0
12.9
12.2
7.9
9.9
12.4
12.5
7.9
9.9
12.4
12.5
4,791.2
4,827.8
4,909.1
4,973.3
4,848.2
4.897.9
4.941.9
5,000.3
4,829.3
4,866.2
4,950.6
5,022.6
-4.8
3.1
6.9
5.3
3.2
4.2
3.6
4.8
32.788
33.265
33.886
34.484
32.528
33.019
33.591
34.173
32.757
33.245
33.864
34.463
32.734
33.222
33.843
34.442
9.5
5.9
7.7
7.2
9.0
6.2
7.1
7.1
9.6
6.1
7.7
7.3
9.6
6.1
7.7
7.3
5,086.3
5.124.6
5.149.7
5,187.1
5,069.4
5,086.5
5,118.0
5,189.5
5.134.3
5.174.4
5,200.0
5,238.6
9.4
3.0
2.0
2.9
5.6
1.4
2.5
5.7
34.871
35.238
35.710
36.322
34.560
34.934
35.437
36.019
34.837
35.208
35.686
36.331
34.818
35.190
35.670
36.315
4.6
4.3
5.5
7.0
46
44
5.9
6.7
44
4.3
5.5
7.4
44
43
5.6
7.4
5.247.3
5,351.6
5.447.3
5,446.1
5,238.2
5,322.4
5,378.4
5,422.3
5.306.1
5.409.2
5.504.3
5,496.9
4.7
8.2
7.4
-0.1
3.8
6.6
4.3
3.3
36.933
37.523
38.042
38.685
36.698
37.326
37.896
38.550
36.943
37.470
37.927
38.758
36.925
37.454
37.913
38.742
6.9
6.5
5.6
6.9
7.8
7.0
6.2
7.1
6.9
5.8
5.0
9.1
69
5.9
50
9.0
S urvey
May 2 0 1 3
of
D -5 7
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 uarterly estim ates are seasonally adjusted at annual rates]
Billions of chained (2005) dollars
Year and Quarter
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Percent change from
preceding period
Real gross
domestic
product
Chain-type price indexes
[2005=100]
Real final
sales of
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
[2005=100]
Gross
domestic
product
Gross
national
product
Percent change from preceding period
Chain-type price index
Implicit prio s deflators
Gross
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
national
product
1978:
I .....................
II....................
I ll...................
IV...................
5,464.7
5,679.7
5,735.4
5,811.3
5,429.2
5,644.6
5,696.4
5,769.5
5,523.4
5,728.7
5,788.8
5,872.6
1.4
16.7
4.0
5.4
0.5
16.8
3.7
5.2
39.324
40.082
40.776
41.607
39.178
39.934
40.627
41.404
39.326
40.050
40.716
41.575
39.309
40.035
40.701
41.560
6.8
7.9
7.1
8.4
6.7
7.9
7.1
7.9
6.0
7.6
6.8
8.7
6.0
7.6
6.8
8.7
1979:
I
II....................
Ill...................
IV...................
............
5,821.0
5,826.4
5,868.3
5,884.5
5,787.8
5,787.5
5,871.4
5,898.2
5,883.8
5,896.8
5,952.3
5,967.8
0.7
0.4
2.9
1.1
1.3
0.0
5.9
1.8
42.370
43.401
44.298
45.175
42.204
43.280
44.382
45.467
42.318
43.362
44.301
45.194
42.303
43.344
44.283
45.174
7.5
10.1
8.5
8.2
8.0
10.6
10.6
10.1
7.3
10.2
8.9
8.3
7.3
10.2
9.0
8.3
1980:
I
II....................
I ll...................
IV...................
............
5,903.4
5,782.4
5,771.7
5,878.4
5,909.6
5,793.8
5,869.3
5,921.8
5,988.3
5,860.9
5,845.6
5,938.6
1.3
-7.9
-0.7
7.6
0.8
-7.6
5.3
3.6
46.165
47.196
48.273
49.633
46.717
47.867
48.955
50.253
46.144
47.178
48.256
49.593
46.125
47.157
48.235
49.571
9.1
9.2
9.4
11.8
11.5
10.2
9.4
11.0
8.7
9.3
9.5
11.6
8.7
9.3
9.5
11.5
1981:
I
II....................
Ill...................
IV...................
............
6,000.6
5,952.7
6,025.0
5,950.0
5,950.9
5,962.7
5,969.6
5,934.4
6,064.8
6,013.2
6,089.3
6,022.1
8.6
-3.2
4.9
-4.9
2.0
0.8
0.5
-2.3
50.937
51.847
52.799
53.720
51.577
52.504
53.316
54.238
50.851
51.813
52.730
53.692
50.831
51.791
52.711
53.674
10.9
7.3
7.5
7.2
11.0
7.4
6.3
7.1
10.5
7.8
7.3
7.5
10.6
7.8
7.3
7.5
1982:
I
II....................
Ill...................
IV...................
............
5,852.3
5,884.0
5,861.4
5,866.0
5,917.7
5,915.2
5,876.5
5,963.5
5,920.6
5,960.6
5,926.3
5,928.6
-6.4
2.2
-1.5
0.3
-1.1
-0.2
-2.6
6.1
54.477
55.152
55.918
56.511
54.952
55.540
56.278
56.853
54.421
55.080
55.864
56.470
54.402
55.059
55.842
56.449
5.8
5.0
5.7
4.3
5.4
4.3
5.4
4.1
5.5
4.9
5.8
4.4
5.5
4.9
5.8
4.4
1983:
I
II....................
I ll..................
IV..................
............
5,938.9
6,072.4
6,192.2
6,320.2
6,026.5
6,111.8
6,225.2
6,307.0
6,000.8
6,138.3
6,259.3
6,389.9
5.1
9.3
8.1
8.5
4.3
5.8
7.6
5.4
56.995
57.411
57.997
58.416
57.205
57.599
58.161
58.496
56.929
57.345
57.929
58.355
56.909
57.328
57.913
58.340
3.5
3.0
4.1
2.9
2.5
2.8
4.0
2.3
3.3
3.0
4.1
3.0
3.3
3.0
4.1
3.0
1984:
I
II....................
Ill...................
IV...................
............
6,442.8
6,554.0
6,617.7
6,671.6
6,349.2
6,465.6
6,525.2
6,620.3
6,507.2
6,618.8
6,681.9
6,728.7
8.0
7.1
3.9
3.3
2.7
7.5
3.7
6.0
59.141
59.675
60.163
60.517
59.222
59.749
60.163
60.482
59.096
59.602
60.081
60.465
59.079
59.585
60.063
60.446
5.1
3.7
3.3
2.4
5.1
3.6
2.8
2.1
5.2
3.5
3.3
2.6
5.2
3.5
3.2
2.6
1985:
I
II....................
I ll..................
IV..................
............
6,734.5
6,791.5
6,897.6
6,950.0
6,732.5
6,783.8
6,894.0
6,922.1
6,780.0
6,840.0
6,937.6
6,994.5
3.8
3.4
6.4
3.1
7.0
3.1
6.7
1.7
61.209
61.524
61.816
62.195
61.060
61.408
61.730
62.221
61.136
61.483
61.736
62.140
61.114
61.467
61.729
62.131
4.7
2.1
1.9
2.5
3.9
2.3
2.1
3.2
4.5
2.3
1.7
2.6
4.5
2.3
1.7
2.6
1986:
I
II....................
I ll...................
IV...................
............
7,016.8
7,045.0
7,112.9
7,147.3
6,993.4
7,046.1
7,145.3
7,185.8
7,055.9
7,073.0
7,144.3
7,168.5
3.9
1.6
3.9
1.9
4.2
3.1
5.8
2.3
62.511
62.823
63.219
63.676
62.563
62.690
63.133
63.615
62.456
62.786
63.143
63.567
62.444
62.769
63.124
63.545
2.0
2.0
2.5
2.9
2.2
0.8
2.9
3.1
2.0
2.1
2.3
2.7
2.0
2.1
2.3
2.7
1987:
I .....................
II....................
Ill...................
IV..................
7,186.9
7,263.3
7,326.3
7,451.7
7,166.6
7,262.2
7,348.9
7,382.0
7,210.9
7,293.5
7,355.6
7,483.8
2.2
4.3
3.5
7.0
-1.1
5.4
4.9
1.8
64.177
64.537
65.046
65.512
64.244
64.699
65.245
65.723
64.160
64.526
65.033
65.530
64.142
64.513
65.019
65.516
3.2
2.3
3.2
2.9
4.0
2.9
3.4
3.0
3.8
2.3
3.2
3.1
3.8
2.3
3.2
3.1
1988:
I
II....................
I ll..................
IV...................
............
7,490.2
7,586.4
7,625.6
7,727.4
7,491.1
7,581.4
7,617.4
7,715.3
7,530.3
7,623.1
7,658.6
7,763.7
2.1
5.2
2.1
5.5
6.0
4.9
1.9
5.2
66.039
66.675
67.466
68.010
66.276
66.910
67.536
68.138
66.068
66.689
67.442
67.953
66.053
66.674
67.426
67.940
3.3
3.9
4.8
3.3
3.4
3.9
3.8
3.6
3.3
3.8
4.6
3.1
3.3
3.8
4.6
3.1
1989:
I .....................
II....................
I ll..................
IV..................
7,799.9
7,858.3
7,920.6
7,937.9
7,752.5
7,827.8
7,926.4
7,936.3
7,835.6
7,892.6
7,957.7
7,983.3
3.8
3.0
3.2
0.9
1.9
3.9
5.1
0.5
68.720
69.405
69.876
70.316
68.893
69.639
70.017
70.510
68.723
69.399
69.855
70.317
68.710
69.390
69.849
70.314
4.2
4.0
2.7
2.5
4.5
4.4
2.2
2.8
4.6
4.0
2.7
2.7
4.6
4.0
2.7
2.7
1990:
I .....................
II....................
Ill..................
IV...................
8,020.8
8,052.7
8,052.6
7,982.0
8,022.4
8,025.9
8,041.7
8,013.2
8,063.5
8,096.6
8,089.6
8,050.1
4.2
1.6
0.0
-3.5
4.4
0.2
0.8
-1.4
71.170
71.997
72.666
73.265
71.465
72.130
72.946
73.863
71.166
71.993
72.655
73.239
71.164
71.987
72.651
73.239
4.9
4.7
3.8
3.3
5.5
3.8
4.6
5.1
4.9
4.7
3.7
3.3
4.9
4.7
3.7
3.3
1991:
I
I I ....................
Ill...................
IV...................
............
7,943.4
7,997.0
8,030.7
8,062.2
7,981.1
8,038.5
8,049.6
8,042.3
7,994.7
8,033.4
8,062.6
8,104.4
-1.9
2.7
1.7
1.6
-1.6
2.9
0.6
-0.4
74.049
74.567
75.131
75.557
74.371
74.707
75.198
75.642
74.026
74.553
75.133
75.569
74.025
74.551
75.127
75.562
4.3
2.8
3.1
2.3
2.8
1.8
2.7
2.4
4.4
2.9
3.1
2.3
4.4
2.9
3.1
2.3
1992:
I
II....................
Ill...................
IV..................
............
8,150.7
8,237.3
8,322.3
8,409.8
8,166.6
8,225.0
8,315.4
8,401.9
8,192.3
8,278.3
8,359.1
8,447.8
4.5
4.3
4.2
4.3
6.3
2.9
4.5
4.2
75.984
76.436
76.776
77.212
76.115
76.589
77.032
77.418
75.954
76.423
76.778
77.214
75.942
76.411
76.765
77.204
2.3
2.4
1.8
2.3
2.5
2.5
2.3
2.0
2.1
2.5
1.9
2.3
2.0
2.5
1.9
2.3
1993:
I
II....................
Ill...................
IV...................
8,425.3
8,479.2
8,523.8
8,636.4
8,396.4
8,466.8
8,533.2
8,635.4
8,472.8
8,518.0
8,570.1
8,663.0
0.7
2.6
2.1
5.4
-0.3
3.4
3.2
4.9
77.687
78.109
78.476
78.883
77.838
78.270
78.568
78.942
77.677
78.106
78.466
78.897
77.673
78.106
78.468
78.901
2.5
2.2
1.9
2.1
2.2
2.2
1.5
1.9
2.4
2.2
1.9
2.2
2.5
2.2
1.9
2.2
1994:
I
II....................
Ill...................
IV...................
............
8,720.5
8,839.8
8,896.7
8,995.5
8,681.6
8,754.7
8,849.6
8,920.7
8,755.9
8,870.0
8,924.0
9,022.1
4.0
5.6
2.6
4.5
2.2
3.4
4.4
3.2
79.318
79.701
80.149
80.572
79.331
79.761
80.312
80.713
79.311
79.689
80.163
80.576
79.314
79.692
80.164
80.578
2.2
1.9
2.3
2.1
2.0
2.2
2.8
2.0
2.1
1.9
2.4
2.1
2.1
1.9
2.4
2.1
1995:
I .....................
II....................
Ill..................
IV..................
9,017.6
9,037.0
9,112.9
9,176.4
8,958.7
9,011.7
9,119.0
9,172.2
9,056.1
9,078.7
9,137.3
9,214.6
1.0
0.9
3.4
2.8
1.7
2.4
4.9
2.4
81.054
81.416
81.760
82.180
81.178
81.608
81.908
82.277
81.038
81.397
81.780
82.195
81.042
81.403
81.787
82.202
2.4
1.8
1.7
2.1
2.3
2.1
1.5
1.8
2.3
1.8
1.9
2.0
2.3
1.8
1.9
2.0
1996:
I .....................
II....................
I ll..................
IV..................
9,239.3
9,399.0
9,480.8
9,584.3
9,251.4
9,384.0
9,425.0
9,557.2
9,285.0
9,434.1
9,511.9
9,621.4
2.8
7.1
3.5
4.4
3.5
5.9
1.8
5.7
82.625
82.929
83.340
83.721
82.711
82.990
83.357
83.823
82.670
82.987
83.250
83.710
82.678
82.996
83.257
83.716
2.2
1.5
2.0
1.8
2.1
1.4
1.8
2.3
2.3
1.5
1.3
2.2
2.3
1.5
1.3
2.2
............
National Data
D-58
May 2013
Table C.1. GDP and Other Major NIPA Aggregates—Table Ends
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (2005) dollars
Year and Quarter
Gross
domestic
product
............
1997:
I
II....................
I ll...................
IV...................
1998:
I
I I ....................
III...................
IV...................
1999:
I
I I ....................
I ll...................
IV...................
2000:
I
I I ....................
II I
I V
2001:
I
II....................
I ll...................
IV...................
2002:
I
II....................
I ll...................
IV...................
2003:
I
II ....................
II I
I V
2004:
I
I I ....................
I ll...................
IV...................
2005:
I
I I ....................
II I
I V
2006:
I
I I ....................
I ll...................
IV...................
2007:
I
II....................
I ll...................
IV...................
2008:
I
I I ....................
II I
I V
2009:
I
I I ....................
II I
I V
2010:
I
I I ....................
II I
I V
2011:
I
II....................
I ll...................
IV...................
2012:
2013:
I
Final sales of
domestic
product
Gross
national
product
Chain-type price indexes
[2005=100]
Percent change from
preceding period
Real gross
domestic
product
Real final
sales of
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
[2005=100]
Gross
domestic
product
Gross
national
product
Percent change from preceding period
Chain-type price index
Implicit price deflators
Gross
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
national
product
9,658.0
9.801.2
9.924.2
10,000.3
9.624.4
9.701.0
9.854.1
9.917.5
9,685.0
9,837.4
9,951.3
10,019.8
3.1
6.1
5.1
3.1
2.8
3.2
6.5
2.6
84.147
84.522
84.758
85.080
84.189
84.344
84.534
84.806
84.251
84.447
84.742
85.055
84.256
84.450
84.744
85.054
2.1
1.8
1.1
1.5
1.8
0.7
0.9
1.3
2.6
0.9
1.4
1.5
2.6
0.9
1.4
1.5
10,094.8
10.185.6
10,320.0
10.498.6
9,979.8
10,148.4
10.265.5
10.439.6
10,124.7
10.212.5
10.331.5
10,512.2
3.8
3.6
5.4
7.1
2.5
6.9
4.7
7.0
85.207
85.417
85.736
85.962
84.760
84.882
85.125
85.369
85.198
85.402
85.729
85.988
85.197
85.399
85.726
85.986
0.6
1.0
1.5
1.1
-0.2
0.6
1.2
1.2
0.7
1.0
1.5
1.2
0.7
1.0
1.5
1.2
10,592.1
10,674.9
10.810.7
11.004.8
10,508.3
10,639.1
10,770.5
10,908.1
10,619.0
10.707.5
10,839.7
11.045.6
3.6
3.2
5.2
7.4
2.7
5.1
5.0
5.2
86.326
86.689
86.993
87.350
85.706
86.172
86.581
87.048
86.371
86.675
86.998
87.305
86.368
86.673
86.996
87.303
1.7
1.7
1.4
1.7
1.6
2.2
1.9
2.2
1.8
1.4
1.5
1.4
1.8
1.4
1.5
1.4
11,033.6
11,248.8
11,258.3
11,325.0
11,018.2
11,148.4
11,196.8
11,268.5
11,069.2
11,288.1
11.292.8
11.386.8
1.1
8.0
0.3
2.4
4.1
4.8
1.7
2.6
88.015
88.462
88.984
89.435
87.852
88.227
88.791
89.278
88.000
88.446
88.979
89.447
87.997
88.442
88.977
89.444
3.1
2.0
2.4
2.0
3.7
1.7
2.6
2.2
3.2
2.0
2.4
2.1
3.2
2.0
2.4
2.1
11,287.8
11,361.7
11,330.4
11,370.0
11,325.6
11,375.7
11,364.1
11,462.6
11.333.9
11.416.9
11,360.3
11,468.8
-1.3
2.7
-1.1
1.4
2.0
1.8
-0.4
3.5
90.052
90.679
90.969
91.225
89.811
90.216
90.350
90.416
90.054
90.666
90.952
91.232
90.051
90.662
90.950
91.230
2.8
2.8
1.3
1.1
2.4
1.8
0.6
0.3
2.7
2.7
1.3
1.2
2.7
2.7
1.3
1.2
11.467.1
11.528.1
11.586.6
11.590.6
11.485.7
11,518.2
11,569.9
11.560.8
11,523.3
11,564.5
11.638.7
11.661.7
3.5
2.1
2.0
0.1
0.8
1.1
1.8
-0.3
91.555
91.958
92.361
92.894
90.725
91.305
91.698
92.265
91.555
91.965
92.363
92.894
91.551
91.960
92.356
92.887
1.5
1.8
1.8
2.3
1.4
2.6
1.7
2.5
1.4
1.8
1.7
2.3
1.4
1.8
1.7
2.3
11,638.9
11.737.5
11,930.7
12.038.6
11.609.6
11.742.6
11.928.6
12,001.1
11,694.9
11,808.1
12,000.8
12,136.0
1.7
3.4
6.7
3.7
1.7
4.7
6.5
2.5
93.548
93.819
94.337
94.833
93.152
93.214
93.744
94.225
93.543
93.815
94.337
94.818
93.538
93.810
94.332
94.814
2.8
1.2
2.2
2.1
3.9
0.3
2.3
2.1
2.8
1.2
2.2
2.1
2.8
1.2
2.2
2.1
12.117.9
12.195.9
12,286.7
12,387.2
12,066.5
12,118.4
12,224.2
12,316.1
12.234.0
12.285.1
12.386.7
12.460.7
2.7
2.6
3.0
3.3
2.2
1.7
3.5
3.0
95.640
96.455
97.163
97.876
95.168
96.016
96.782
97.693
95.643
96.450
97.149
97.874
95.639
96.448
97.146
97.872
3.4
3.5
3.0
3.0
4.1
3.6
3.2
3.8
3.5
3.4
2.9
3.0
3.5
3.4
2.9
3.0
12,515.0
12,570.7
12.670.5
12.735.6
12.424.1
12.555.2
12,658.5
12.654.2
12.623.4
12,667.7
12,776.9
12.812.4
4.2
1.8
3.2
2.1
3.6
4.3
3.3
-0.1
98.784
99.444
100.467
101.305
98.571
99.333
100.539
101.558
98.776
99.437
100.458
101.302
98.774
99.436
100.461
101.306
3.8
2.7
4.2
3.4
3.6
3.1
4.9
4.1
3.7
2.7
4.2
3.4
3.7
2.7
4.2
3.4
12.896.4
12,948.7
12.950.4
13,038.4
12,831.9
12.877.3
12,882.8
13.005.3
12,974.7
13.021.6
13.009.6
13,107.3
5.1
1.6
0.1
2.7
5.7
1.4
0.2
3.9
102.055
102.955
103.731
104.206
102.259
103.147
103.878
104.133
102.055
102.948
103.724
104.186
102.060
102.952
103.729
104.186
3.0
3.6
3.0
1.8
2.8
3.5
2.9
1.0
3.0
3.5
3.0
1.8
3.0
3.5
3.1
1.8
13,056.1
13,173.6
13,269.8
13,326.0
13,038.2
13,126.2
13,231.8
13,314.0
13,122.6
13,248.4
13,405.8
13,511.0
0.5
3.6
3.0
1.7
1.0
2.7
3.3
2.5
105.396
106.116
106.457
106.956
105.275
106.099
106.626
107.609
105.380
106.098
106.453
106.958
105.382
106.098
106.453
106.963
4.6
2.8
1.3
1.9
4.5
3.2
2.0
3.7
4.7
2.8
1.3
1.9
4.7
2.7
1.3
1.9
13.266.8
13.310.5
13.186.9
12.883.5
13,277.8
13,325.9
13,225.6
12,972.9
13,431.7
13,476.6
13,367.4
12,991.9
-1.8
1.3
-3.7
-8.9
-1.1
1.5
-3.0
-7.4
107.623
108.282
109.107
109.247
108.703
109.893
110.982
109.852
107.591
108.302
109.162
109.300
107.600
108.312
109.176
109.295
2.5
2.5
3.1
0.5
4.1
4.5
4.0
-4.0
2.4
2.7
3.2
0.5
2.4
2.7
3.2
0.4
12.711.0
12.701.0
12,746.7
12.873.1
12,870.3
12,890.0
12,928.3
12,910.2
12.819.5
12,806.8
12,895.3
13.034.5
-5.3
-0.3
1.4
4.0
-3.1
0.6
1.2
-0.6
109.526
109.318
109.463
109.820
109.188
109.235
109.706
110.350
109.539
109.325
109.457
109.793
109.534
109.327
109.460
109.791
1.0
-0.8
0.5
1.3
-2.4
0.2
1.7
2.4
0.9
-0.8
0.5
1.2
0.9
-0.8
0.5
1.2
12.947.6
13.019.6
13,103.5
13,181.2
12,914.7
12.985.4
13.005.5
13.135.6
13,121.9
13,216.5
13.301.1
13.374.2
2.3
2.2
2.6
2.4
0.1
2.2
0.6
4.1
110.234
110.686
111.248
111.838
110.920
111.110
111.488
112.165
110.216
110.706
111.238
111.795
110.210
110.690
111.217
111.775
1.5
1.7
2.0
2.1
2.1
0.7
1.4
2.5
1.6
1.8
1.9
2.0
1.5
1.8
1.9
2.0
13.183.8
13,264.7
13.306.9
13,441.0
13.154.4
13.234.1
13.311.2
13.361.4
13,394.3
13,486.1
13,534.7
13,672.9
0.1
2.5
1.3
4.1
0.6
2.4
2.3
1.5
112.389
113.109
113.937
114.041
113.099
114.067
114.709
114.958
112.372
113.109
113.950
113.987
112.362
113.106
113.940
113.985
2.0
2.6
3.0
0.4
3.4
3.5
2.3
0.9
2.1
2.6
3.0
0.1
2.1
2.7
3.0
0.2
I
II....................
I ll...................
IV....................
13.506.4
13.548.5
13.652.5
13,665.4
13,440.1
13,497.9
13,577.4
13,642.0
13,693.8
13,763.6
13,862.9
13,895.0
2.0
1.3
3.1
0.4
2.4
1.7
2.4
1.9
114.608
115.050
115.807
116.085
115.674
115.888
116.298
116.758
114.599
115.035
115.810
116.089
114.600
115.035
115.807
116.090
2.0
1.6
2.7
1.0
2.5
0.7
1.4
1.6
2.2
1.5
2.7
1.0
2.2
1.5
2.7
1.0
............
13,750.1
13,691.8
2.5
1.5
116.423
117.084
116.437
1.2
1.1
1.2
............
............
............
............
............
............
............
............
............
............
............
............
............
............
............
D-59
May 2 0 1 3
D. Charts
All series are seasonally adjusted at annual rates. The percent changes in real gross domestic product are based on quarter-toquarter changes. The shaded areas mark the beginning and end of recessions as determined by the Business Cycle Dating Com
mittee of the National Bureau of Economic Research.
SELECTED NIPA SERIES
-4 0
-3 0
P e rc e n t
Dec Nov
Nov
Mar
J a n J Iy J ly
REAL G ROSS DO MESTIC PRODUCT (PERCENT CHANGE)
U.S. Bureau of Economic Analysis
Nov
Jly Mar
n r
Mar Nov
Dec
Jun
National Data
D-60
May 2013
SELECTED NIPA SERIES
Percent
Dec Nov
Nov
Mar
J a n JIyJ ly
Nov
Mar Nov
Jly Mar
Dec
Jun
60
SHARES O F FEDERAL G OVERNM ENT CURRENT RECEIPTS
50-
- 50
Personal current taxes
y ' N‘' ’V
/-■V
A
u
40-
/'f v W
v
XT'
- 40
V
C ontributions for governm ent social insurance
- 30
30-
-
20
-
10
Taxes on corporate income
Taxes on production and im ports
0
P ercent
Dec Nov
Nov
Mar
J a n JIyJ ly
Nov
Mar Nov
Jly Mar
Dec
Jun
70
SHARES O F FEDERAL G O V E R H P g N T C URRENT EXPENDITURES
- 60
C urrent transfer paym ents
- 50
- 40
'- A ,
- — •% •
C onsum ption expenditures
- 30
-
20
-
10
Interest payments
0
Percent
Dec Nov
Nov
Mar
J a n JIyJ ly
Nov
Jly Mar
Mar Nov
Dec
Jun
4
4
-
2-
-
2
0-
-
0
2-
---- 2
------4
-
-
6-
---- 6
-
8-
---- 8
10-
— 10
-1 2
U.S. Bureau of Economic Analysis
-1 2
May 2013
S urvey
of
D-61
C u r r e n t B u s in e s s
SELECTED NIPA SERIES
P ercent
Dec Nov
Nov
Mar
J a n JIyJ ly
Nov
Mar Nov
Jly Mar
Dec
Jun
RATIO, SAVINGS TO GROSS NATIONAL INCOME
'v S
20
-
G ross saving
15 -
10
-
^
t.
<«■..
Ǥ' \
*
/• *
J>
*"** ,
w
V
i!
'
* /•
Gross business saving*"
-
20
-
15
-
10
Personal saving
I
* » '. / * — v - | r *
v
u .
vV
.
' *•--------- I
^
"*%
i f t
1b |
*
1
■
’■
,
G ross governm ent saving
5 Gross saving less personal saving and gross
Percent
Dec Nov
Nov
Mar
Ja n JIyJ ly
Nov
Jly Mar
Mar Nov
Dec
Jun
RATIO, IN V E S T N ||fT T O GROSS NATIONAL PRODUCT
\« —x *
20
fif
/A.
a
//
x V VV\ j
G ross dom estic investment plus balance on current account (NIPAs)
-
w
I II
i./
v
10
-
■
\
11
Gross private dom estic investment f
.’■ « $
‘
|
«
T
IE
Gross government investment
r N ^ ^ / \ N/K .
„
1
a
I
I
—
V~
■
Balance on current account
-5 -
Percent
Dec Nov
Nov
Mar
Ja n JIyJ ly
Nov
Jly Mar
Mar Nov
Dec
Jun
SHARES OF GROSS PRIVATE DOM ESTIC FIXED INVESTM ENT
60
60 _______ ••
50
__ J ~
'H __
Nonresidential equipm ent and software
-
50
-
30
-
20
40
Residential investment
30
J §
<
^
| / >
* x
.
" ' f t - - " '
"•
20
Nonresidential structures ’
U.S. Bureau of Economic Analysis
National Data
D-62
May 2013
SELECTED NIPA SERIES
SHARES O F NATIONAL INCOME
Supplem ents to wages
and salaries, 5.5%
W age and salary
accruals, 55.8%
Supplem ents to wages
and salaries, 12.2%
W age and salary
accruals, 49.7%
P roprietors’ income, 9.8%
P roprietors’ income,
8.7%
Rental income
of persons, 3.1%
Rental income
of persons, 3.3%
Corporate profits, 13.3%
interest and misc. payments,
3.6%
Net interest and misc. payments, 3.0%
Other, 0.3%
Taxes on production and imports, 9.3%
SHARES O F GROSS DO MESTIC PRODUCT BY SECTOR
A
Other, 0.2%
Taxes on production and imports, 8.2%
-
1965
Business 75.8%
Business, 79.4%
H ouseholds, 6.8%
Households, 6.1%
N onprofit institutions serving
households, 2.5%
N onprofit institutions
serving households,
5.5%
General government,
federal, 3.9%
G eneral government,
federal 5.9%
government,
state and local, 8.0%
General governm ent,
state and local 6.1%
SHARES O F G ROSS DO M ESTIC PURCHASES
Personal consum ption
expenditures, 61.7%
Personal consum ption
expenditures, 68.5%
Private nonresidential
investment, 10.4%
Private residential
investment, 4.8%
Private nonresidential
investment, 10.3%
Private residential
investment, 2.4%
Federal governm ent,*
7.5%
Federal governm ent,* 11.2%
State and local
governm ent,* 11.4%
State and local governm ent,* 9.9%
C o n s u m p tio n expenditures and gross investm ent
U.S. Bureau of Economic Analysis
May 2013
S urvey
of
D-63
C u r r e n t B u s in e s s
SELECTED NIPA SERIES
Percent
Dec Nov
Nov
Mar
Ja n JIyJ ly
Nov
Jly Mar
Mar Nov
Dec
Jun
70
60-
-6 0
50-
-50
40-
-4 0
30-
-2 0
2 0 -
10-
Percent
Dec Nov
Nov
Mar
Ja n JIyJ ly
Nov
Jly Mar
Mar Nov
Nov
Mar
J a n JIyJ ly
Nov
Jly Mar
Mar Nov
Dec
Jun
Dec
Jun
18
EXPORTS AS SI
IM PORTS AS SI-
16 -
12
-
Percent
Dec Nov
70
70
SHARES OF PERSONAL CONSUMPTION EXPENDITU
E OF PRODUCT
Services
60 -
- 60
- 50
50 Goods
- 40
40 -
30 -
20
-
10
-
Nondurable goods
Durable goods
- 30
-2 0
—s -
10
0
U.S. Bureau of Economic Analysis
National Data
D -6 4
May 2 0 1 3
SELECTED NIPA SERIES
Percent
Dec Nov
Nov
Ja n JIyJ ly
Mar
Mar Nov
Jly Mar
Nov
Dec
Jun
20
PROFIT M ARGIN, DO M ESTIC NO NFINANCIAL CORPORATIONS
Before tax
'R a tio of corporate profits per unit to cost and profit per unit
Ratio
Dec Nov
Nov
Mar
J a n JIyJ ly
Jly Mar
Nov
Mar Nov
Dec
6
Jun
INVENTORY/SALES RATIOS, CURRENT DOLLAR*
Ratio of private nonfarm inventories to
final sales of goods and structures
„
E \
Rat i o of private inventories to
final sales of dom estic business
)
Ratio of private nonfarm inventories to
final sales of dom estic business
'B a se d on current-dollar estim ates of sw entories and sales
1
65
Ratio
6
I
67
I
1 1
69
I
71
Dec Nov
I
INVENTORY/SAI
I
I
73
I
Nov
I
75
Mar
I
I
77
I
I
79
I
I
81
J a n JIyJ ly
I
I
83
Nov
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
Mar Nov
I
03
I
I
05
I
I
07
I
Dec
I
09
I
I
11
I
T
13
Jun
RATIOS,
Ratio of private nonfarm inventories to
final sales of goods and structures
Ratio of private inventories to
final sales of dom estic business
Ratio of private nonfarm inventories to
final sales of dom estic business
'Based on chained !005) dollar estim ates
Bureau of Economic Analysis
____j and sales
May 2013
D-65
In d u stry Data
E. Industry Table
The statistics in this table were published in tables 1 and 4 in “Annual Industry Accounts: Advance Statistics on GDP
by Industry for 2012” in the May 2013 S u r v e y o f C u r r e n t B u s i n e s s .
Table E.1. Percent Changes in Chain-Type Quantity and Price Indexes for Value Added by Industry for 2010-2012
Chain-type
quantity indexes
Line
2010
Gross domestic product..
2011
Chain-type
price indexes
2012
2010
2011
2012
2.4
1.8
2.2
1.3
2.1
1.8
2.7
2.0
2.9
-3.7
1.2
13.9
2.3
27.4
1.5
0.9
16.0
6.5
35.0
2.1
25.0
15.1
41.2
14.4
-9.3
16.5
15.0
10.6
Private industries....................
Agriculture, forestry, fishing, and hunting..
-2.8 -13.6
Farm s..............................................................
Forestry, fishing, and related activities........
-5.0 -17.7
5.9
3.8
Mining.............................................................
-9.2
0.0
Oil and gas extraction....................................
Mining, except oil and gas............................
Support activities for m ining.........................
-20.0
-1.0
28.3
-4.1
-0.7
15.8
Utilities...........................................................
10.1
2.6
0.9
-2.4
2.1
1.2
Construction.
-1.2
-0.3
3.2
-2.5
1.5
2.3
M anufacturing.......................................................................
Durable goods...................................................................
Wood products..............................................................
Nonmetallic mineral products......................................
Primary metals..............................................................
Fabricated metal products...........................................
M achinery......................................................................
Computer and electronic products.............................
Electrical equipment, appliances, and components
Motor vehicles, bodies and trailers, and parts...........
Other transportation equipment.................................
Furniture and related products....................................
Miscellaneous manufacturing
Nondurable goods................
Food and beverage and tobacco products...............
Textile mills and textile product mills...........................
Apparel and leather and allied products....................
Paper products.............................................................
Printing and related support activities.......................
Petroleum and coal products......................................
Chemical products......................................................
Plastics and rubber products......................................
6.9
3.7
2.5
6.2
13.3
6.8
7.6
12.3
2.6
6.0
-7.7
1.0
9.4
6.0
14.0
13.3
17.7
1.1
-0.6
12.5
174.7 30.7
-1.5
6.6
4.4
6.0
0.1
-3.3
0.4 -2.1
5.2 -1.4
5.4 -10.4
0.3 -1.7
-13.4 -0.6
0.4
6.2
-7.7
-3.1
0.2 -0.5
3.4 -0.1
9.1
-5.1
-1.0
3.6
1.5
-2.8
2.8
-5.3
29.3
-7.2
-5.1
-3.7
-4.1
-13.4
-0.6
-3.9
-0.8
3.0
1.0
-9.0
-1.4
-1.4
2.7
-2.6
28.3
0.8
-3.0
-1.7
-7.9
-2.7
15.8
0.2
-1.0
-4.8
-1.7
-9.6
1.1
0.3
0.1
9.8
-0.5
6.8
1.9
-0.7
-3.3
44.9
8.0
3.4
0.7
2.5
3.4
3.0
4.8
0.9
2.7
1.4
Retail trade..
7.0
0.2
3.8
-3.3
3.2
1.0
Transportation and warehousing....................
6.6
4.8
1.3
-0.1
1.1
3.4
Air transportation................................................
Rail transportation..............................................
Water transportation..........................................
8.4
1.3
-5.8
8.6
-1.6
19.1
8.5
4.3
0.8
5.2
26.0
4.2
-2.4
19.7
3.3
8.3
Transit and ground passenger transportation..
Pipeline transportation......................................
Other transportation and support activities....
Warehousing and storage.................................
Information...........................................................
3.2
5.9
Publishing industries (includes software)..........
Motion picture and sound recording industries.
Broadcasting and telecommunications.............
Information and data processing services.........
10.3
3.0
0.2
4.3
3.6
1.7
8.0
4.1
4.6
2.8
2.5
8.3
5.3 -16.7
-4.0
0.9
3.7
4.0
9.2
2.5
0.5
0.0
-3.2
-2.6
5.8
-1.9
-0.3
-3.7
0.0
-1.4
-2.4
-0.5
0.4
0.0
-1.6
1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
2. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance,
real estate, rental, and leasing; professional and business services; educational services, health care, and social
2011
0.4
-2.2
0.3
-0.6
Federal Reserve banks, credit intermediation, and
related activities........................................................
Securities, commodity contracts, and investments...
Insurance carriers and related activities....................
Funds, trusts, and other financial vehicles................
-4.1
6.0
-3.6
3.9
-1.0
-6.1
0.8
18.6
Real estate and rental and leasing...........................
2.0
0.9
Real estate.....................................................................
Rental and leasing services and lessors of intangible
assets........................................................................
2.2
0.6
0.3
4.0
59
60
61
62
63
Professional and business services............................
Professional, scientific, and technical services.....
2.2
2.6
4.8
5.4
Legal services...............................................................
Computer systems design and related services.......
Miscellaneous professional, scientific, and technical
services.....................................................................
-2.2
7.8
-1.7
9.0
2.8
6.5
64
65
66
67
68
Management of companies and enterprises...........
Administrative and waste management services. ..
-4.8
5.5
-0.5
6.9
Administrative and support services..........................
Waste management and remediation services.........
5.2
7.8
7.5
1.4
Educational services, health care, and social
assistance...................................................................
Educational services..................................................
Health care and social assistance...........................
1.3
-1.8
1.7
1.7
1.2
1.8
Ambulatory health care services................................
Hospitals and nursing and residential care facilities
Social assistance..........................................................
4.3
-1.3
2.6
2.0
2.1
-1.0
Arts, entertainment, recreation, accommodation, and
food services...............................................................
Arts, entertainment, and recreation.........................
6.4
6.2
5.4
5.5
Performing arts, spectator sports, museums, and
related activities........................................................
Amusements, gambling, and recreation industries...
3.9
9.2
5.0
6.3
53
54
55
56
57
58
69
70
71
72
73
74
75
76
W holesale trade...................................................................
Truck transp ortation......................................................
2010
Finance, insurance, real estate, rental, and leasing. ..
Finance and insurance...............................................
50
51
52
77
Accommodation and food services.........................
78
79
Accommodation............................................................
Food services and drinking places.............................
80
Other services, except government.............................
81
82 Government.........................................................................
Federal.............................................................................
83
84
General government....
Government enterprises..................................................
85
86
State and local..............
87
General government....
Government enterprises..................................................
88
1.0
Chain-type
price indexes
Chain-type
quantity indexes
Line
6.5
5.3
10.5
5.2
9.1
4.0
0.7
0.6
2.9
1.3
-0.7
-0.3
2012
2.1
3.6
1.2
1.8
1.2
3.6
2.4
0.4
0.2
0.4
3.5
3.3
3.6
0.1
-0.3
-0.5
3.7
0.8
-4.6 -10.9
-0.2
2010
2011
2.3
8.2
0.9
0.8
15.0
-1.5
2.6
25.9
-1.7
5.5
2.7
-4.1
-1.1
0.9
-1.3
0.8
0.5
1.4
2.3
1.0
1.6
0.8
3.9
-2.4
4.3
-0.7
1.1
0.2
11.2
0.4
8.5
-0.7
0.2
2.6
-1.1
2.5
2.3
3.9
2.0
1.6
3.5
1.3
1.9
2.1
1.9
1.1
1.2
2.6
-0.2
0.5
0.5
0.6
0.9
0.1
0.3
0.9
-0.5
0.5
-2.8
0.3
0.5
0.5
2.6
2.0
2.6
2.6
2.1
1.9
2.7
1.6
2.2
-1.0
1.6
2.2
1.8
-1.2
2.2
2.1
2012
1.5
3.5
0.3
1.8
2.3
0.6
1.1
2.2
3.0
2.0
2.1
0.3
2.7
1.7
2.0
2.1
-0.4
-1.0
-0.7
2.9
-1.2
1.3
1.9
2.9
2.7
0.6
2.4
4.7
2.4
1.8
1.0
5.6
1.5
0.9
1.7
11.4
4.3
6.5
-3.2
-2.2
-0.4
Addenda:
89
90
91
Private goods-producing industries1...................................
Private services-producing industries2...............................
Information-communications-technology-producing
industries3..........................................................................
assistance; arts, entertainment, recreation, accommodation, and food services; and other services, except government.
3. Consists of computer and electronic products; publishing industries (includes software); information and data
processing services; and computer systems design and related services.
May 2013
D-66
International Data
F. Transaction s Tables
Selected U.S. international transactions tables are presented in this section. For BEA’s full set o f detailed estimates o f U.S.
international transactions, visit BEA’s Web site at www.bea.gov.
Table F.1. U.S. International Transactions in Goods and Services
[Millions of dollars, m onthly estim ates seasonally adjusted]
2012
2011
2013
2012
Feb.
March
April
May
June
July
Aug.
Sep.
Oct.
Nov.
Dec.
Jan.
Feb. r
March
p
Exports of goods and services........................................ 2,103,367 2,194,491 180,166 184,685 182,468 183,109 185,550 182,689 181,117 186,653 180,279 182,526 186,630 184,401 185,975 184,276
Goods.............................................................................
Foods, feeds, and beverages........................................
Industrial supplies and materials...................................
Capital goods, except autom otive.................................
Automotive vehicles, parts, and engines......................
Consumer goods (nonfood), except automotive..........
Other goods......................................................................
Adjustments 1
Services
Travel ,, ,
Passenger fares...............................................................
Other transportation........................................................
Royalties and license fees..............................................
Other private services.....................................................
Transfers under U.S. military agency sales contracts 2
U.S. government miscellaneous services.....................
1,497,406 1,564,104 128,217 131,964 130,362 130,576 132,592 130,481 128,527 133,782 127,610 129,418 132,818 130,848 132,175 130,345
12,694
11,002 11,367 11,263 10,210
10,782 12,621
11,261
10,908
126,220
132,860
9,592
9,978 10,676 11,583
11,556
14,924
4,807
1,127
42,598
44,198
12,906
15,789
5,055
1,264
40,220
44,123
12,279
15,362
4,474
1,401
39,024
44,522
12,193
14,937
4,813
1,483
42,435
44,928
11,904
15,426
4,933
1,461
39,613
43,067
11,533
15,352
5,288
1,495
40,151
43,998
12,276
15,414
5,313
1,358
44,124
43,573
11,988
15,174
5,589
1,369
41,479
44,249
12,159
15,441
4,667
1,487
43,176
43,491
12,392
15,130
5,198
1,526
42,888
43,221
12,061
14,869
5,367
1,728
52,106
52,533
52,958
52,208
52,589
52,872
52,669
53,108
53,813
53,553
53,800
53,930
10,621
3,302
3,619
10,050
22,996
1,414
105
10,750
3,369
3,646
9,972
23,280
1,411
104
10,986
3,494
3,680
9,979
23,271
1,442
105
10,678
3,288
3,586
10,104
23,005
1,443
105
10,914
3,280
3,585
10,206
23,020
1,480
104
11,079
3,219
3,549
10,253
23,131
1,538
103
10,579
3,168
3,527
10,262
23,438
1,594
10,901
3,278
3,511
10,264
23,428
1,626
100
11,078
3,412
3,730
10,284
23,585
1,623
10,824
3,420
3,540
10,317
23,751
1,598
103
10,927
3,403
3,663
10,346
23,779
1,576
106
10,984
3,439
3,646
10,362
23,817
1,573
500,342
492,988
133,116
174,957
52,809
16,974
500,988
526,665
145,995
181,621
59,154
16,821
42,140
43,347
12,051
14,794
4,764
1,529
43,921
44,653
11,891
14,891
5,262
1,368
,922
43,194
12,315
15,101
4,610
1,543
42,051
43,873
605,961
630,387
51,948
52,721
116,115
36,631
43,064
120,836
270,193
17,946
1,176
128,555
39,521
43,294
121,810
277,975
17,976
1,255
10,380
3,246
3,610
10,170
22,964
1,469
10,703
3,347
3,719
23,173
1,448
110
111
10,220
12,210
101
101
110
Imports of goods and services........................................ 2,663,247 2,734,005 224,751 236,412 232,194 230,118 226,471 224,634 223,668 226,998 222,325 230,753 224,774 228,862 229,604 223,105
Goods.............................................................................
2,235,819 2,299,417 188,318 199,515 195,693 193,780 190,058 188,329 187,478 191,136 186,635 194,912 188,891 192,549 192,933 186,489
2,000
8,845
59,931
45,153
24,035
40,711
5,855
2,105
9,419
61,347
45,543
25,442
45,204
5,979
1,978
9,366
56,975
45,360
24,523
45,315
5,402
1,948
9,339
61,101
45,868
23,731
44,495
6,126
1,889
9,613
58,726
46,212
25,165
45,208
5,794
2,216
9,623
57,309
44,707
24,394
41,802
6,674
1,980
35,862
35,690
35,841
35,883
36,313
36,670
36,616
6,971
2,820
4,621
3,112
15,878
2,089
371
6,776
2,711
4,550
3,182
16,009
2,082
379
6,767
2,731
4,630
3,225
16,040
2,068
380
6,680
2,821
4,627
3,235
16,087
2,055
378
6,825
2,913
4,757
3,241
16,160
2,043
373
6,982
3,030
4,878
3,243
16,139
2,033
366
7,127
3,081
4,621
3,244
16,163
2,024
356
107,460
755,807
510,737
254,609
514,061
65,150
27,995
110,232
731,086
548,282
297,721
516,381
71,450
24,266
8,992
61,828
44,680
24,603
40,271
5,886
2,058
9,183
65,543
47,836
24,573
43,841
6,375
2,163
9,204
64,997
45,883
24,260
43,502
5,867
1,981
9,129
61,307
47,265
24,750
43,246
6,146
1,938
8,979
58,932
46,043
25,450
42,452
6,231
1,971
9,092
56,996
45,471
26,193
42,905
5,814
1,857
9,171
58,500
44,933
25,310
41,625
5,964
1,977
9,266
59,544
45,520
24,422
44,244
6,140
.....................................................................
427,428
434,569
36,433
36,897
36,501
36,338
36,413
36,305
36,190
Travel
Passenger fa re s...............................................................
Other transportation........................................................
Royalties and license fees..............................................
Other private services.....................................................
Direct defense expenditures 2........................................
U.S. government miscellaneous services.....................
78,651
31,109
54,711
36,620
191,973
29,510
4,854
83,651
34,443
55,170
40,037
190,706
26,118
4,464
7,116
3,010
4,437
3,293
15,931
2,277
370
7,289
3,058
4,607
3,318
15,988
2,270
368
7,146
2,985
4,634
3,344
15,765
2,260
367
7,132
2,871
4,589
3,368
15,767
2,243
367
7,124
2,961
4,585
3,379
15,771
2,223
370
7,007
2,861
4,696
3,491
15,736
2,147
368
6,804
2,751
4,523
3,835
15,795
2,113
369
Foods, feeds, and beverages........................................
Industrial supplies and materials...................................
Capital goods, except automotive.................................
Automotive vehicles, parts, and engines......................
Consumer goods (nonfood), except automotive..........
Other goods......................................................................
Adjustments 1...................................................................
Services
Memoranda:
Balance on goods.................................................................
Balance on services............................................................
Balance on goods and services.........................................
-738,413
178,533
-559,880
-735,313 -60,101 -67,551 -65,332 -63,205 -57,466 -57,848 -58,951 -57,354 -59,025 -65,495 -56,073 -61,700 -60,758 -56,143
16,979 17,267 17,930
17,240 17,129 17,315
195,799 15,515 15,824 15,606 16,195 16,545 15,904 16,399 17,010
-539,514 -44,586 -51,726 -49,726 -47,009 -40,921 -41,944 -42,552 -40,345 -42,046 -48,228 -38,144 -44,460 -43,629 -38,829
p Preliminary
to prepare international and national accounts,
r Revised
2. Contains goods that cannot be separately identified.
1. Reflects adjustments necessary to bring Census Bureau data in line with the concepts and definitions used by BEA
Source: U.S. Bureau of Economic Analysis and U.S. Census Bureau.
May 2013
S urvey
of
D-67
C u r r e n t B u s in e s s
Table F.2. U.S. International Transactions
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
(Credits +; debits -)
2011
2012
III
Current account
1 Exports of goods and services and income receipts....................
2,847,988 2,936,512
2012
2011
p
728,410
IV
I
721,593
II
2011
III r
IV p
III
2012
IV
I'
II r
III r
IV p
722,503
738,200
730,686
745,124
724,800
720,095
727,956
734,927
733,290
740,340
2
Exports of goods and services.......................................................... 2,103,367 2,194,491
539,773 538,401
538,595
3
Goods, balance of payments basis..............................................
1,497,406 1,564,104 378,454 387,237 385,722
4
Services........................................................................................
151,164
605,961
630,387 161,319
152,873
5
Transfers under U.S. military agency sales contracts..............
4,664
4,615
4,406
17,946
17,976
6
Travel........................................................................................
27,137
116,115
128,555
35,289
27,179
7
Passenger fares.......................................................................
36,631
39,521
10,843
9,139
9,204
8
Other transportation.................................................................
43,064
43,294
11,025
10,910
10,699
9
Royalties and license fees........................................................
120,836
121,810
30,207
31,500
29,675
10
Other private services..............................................................
68,982
71,382
270,193
277,975
67,578
11
U.S. government miscellaneous services................................
284
327
1,176
1,255
309
12
Income receipts.................................................................................
188,637 183,192 183,908
744,621
742,021
13
Income receipts on U.S.-owned assets abroad...........................
738,810
736,068 187,182 181,742 182,429
14
Direct investment receipts........................................................
480,238
461,668 120,297 115,321
115,660
15
Other private receipts...............................................................
256,649
272,406
66,361
65,903
66,146
16
U.S. government receipts.........................................................
1,923
1,994
524
624
518
17
1,479
Compensation of employees........................................................
5,811
5,952
1,455
1,450
18 Imports of goods and services and income payments................. -3,180,861 -3,277,420 -824,058 -807,410 -796,209
19
Imports of goods and services......................................................... -2,663,247 -2,734,005 -693,354 -680,481 -662,714
20
Goods, balance of payments basis.............................................. -2,235,819 -2,299,417 -580,607 -573,569 -558,734
21
Services.......................
-427,428 -434,589 -112,747 -106,912 -103,980
22
-7,052
Direct defense expenditures....................................................
-29,510
-26,118
-7,343
-6,838
23
Travel.......................
-78,651
-83,651
-22,808 -17,181
-18,430
24
Passenger fares......
-31,109
-34,443
-8,229
-7,435
-8,263
25
Other transportation.................................................................
-54,711
-55,170 -14,148 -13,819 -13,337
26
Royalties and license fees........................................................
-36,620
-40,037
-9,274
-9,955
-9,856
27
Other private services..............................................................
-191,973 -190,706 -49,661
-50,246 -46,140
U.S. government miscellaneous services................................
28
-4,854
-4,464
-1,284
-1,225
-1,115
29
Income payments..............................................................................
-517,614 -543,414 -130,703 -126,929 -133,496
30
Income payments on foreign-owned assets in the United States
-123,310
-130,262
-503,796 -529,826 -127,193
Direct investment payments..................................................... -158,559 -173,098 -39,946 -36,272 -41,962
31
32
Other private payments
-212,506 -226,210 -54,157 -53,655 -55,396
33
U.S. government payments......................................................
-132,731 -130,518 -33,090 -33,383 -32,904
34
Compensation of employees
-13,817
-3,510
-3,620
-3,233
-13,588
35 Unilateral current transfers, net
-133,053 -134,076 -32,525 -32,135 -33,271
36
U.S. government grants.....................................................................
-11,910
-47,350
-46,145 -11,176 -11,551
37
U.S. government pensions and other transfers................................
-8,947
-1,864
-10,354
-2,833
-2,542
38
Private remittances and other transfers...........................................
-76,756
-77,576 -18,516 -18,042 -19,497
551,104
396,221
154,883
4,267
33,359
9,985
11,014
30,064
65,880
314
187,096
185,614
115,223
69,893
498
1,482
546,740
382,857
163,882
4,461
38,061
10,795
10,791
29,686
69,776
313
183,946
182,452
113,563
68,409
479
1,494
558,053
399,304
158,749
4,843
29,956
9,537
10,790
32,384
70,937
302
187,071
185,574
117,222
67,958
393
1,498
537,351
382,161
155,190
4,664
30,194
9,889
10,956
31,055
68,123
309
187,449
185,994
119,106
66,361
527
1,455
533,204
382,167
151,037
4,615
29,254
9,287
10,827
30,033
66,736
284
186,891
185,441
119,094
65,903
444
1,450
543,471
387,939
155,532
4,406
30,969
9,711
10,860
30,437
68,821
327
184,485
183,007
116,116
66,146
745
1,479
551,128
393,530
157,598
4,267
32,357
10,165
10,945
30,002
69,548
314
183,799
182,317
111,953
69,893
470
1,482
550,458
392,790
157,668
4,461
32,671
9,787
10,721
30,561
69,154
313
182,832
181,338
112,463
68,409
466
1,494
549,435
389,846
159,590
4,843
32,558
9,858
10,768
30,809
70,452
302
190,905
189,407
121,136
67,958
313
1,498
-830,898 -828,856 -821,457 -801,143 -806,512 -829,021 -820,500 -811,542 -816,358
-697,849
-585,511
-112,338
-6,726
-24,034
-9,448
-13,803
-9,978
-47,244
-1,104
-133,049
-129,727
-40,418
-56,568
-32,741
-3,322
-690,764
-579,094
-111,670
-6,349
-23,661
-8,758
-14,136
-10,167
-47,491
-1,107
-138,092
-134,639
-46,479
-55,586
-32,574
-3,453
-682,679
-576,078
-106,601
-6,205
-17,526
-7,974
-13,894
-10,035
-49,830
-1,137
-138,778
-135,198
-44,239
-58,660
-32,299
-3,580
-672,173
-562,778
-109,395
-7,343
-19,895
-7,946
-13,767
-9,503
-49,656
-1,284
-128,971
-125,508
-38,261
-54,157
-33,090
-3,463
-679,489
-571,421
-108,068
-7,052
-19,871
-7,923
-13,769
-9,652
-48,576
-1,225
-127,022
-123,590
-36,552
-53,655
-33,383
-3,433
-31,207
-34,771
-34,827
-31,815
-11,471
-1,920
-17,816
-11,821
-3,042
-19,908
-10,943
-3,528
-20,355
-11,176
-2,250
-18,389
-291
-470
7,198
-675,302
-566,943
-108,359
-6,349
-20,782
-8,432
-13,841
-10,438
-47,409
-1,107
-136,239
-132,822
-44,662
-55,586
-32,574
-3,417
-692,069
-582,503
-109,567
-6,838
-21,244
-8,931
-13,715
-9,866
-47,858
-1,115
-136,951
-133,561
-45,261
-55,396
-32,904
-3,390
-688,781
-579,532
-109,249
-6,726
-21,402
-8,817
-13,807
-10,090
-47,303
-1,104
-131,719
-128,314
-39,005
-56,568
-32,741
-3,404
-677,853
-570,439
-107,414
-6,205
-20,223
-8,263
-13,807
-9,643
-48,136
-1,137
-138,505
-135,129
-44,170
-58,660
-32,299
-3,376
-32,240
-32,703
-32,780
-34,194
-34,398
-11,551
-2,269
-18,419
-11,910
-2,541
-18,253
-11,471
-2,574
-18,735
-11,821
-2,622
-19,751
-10,943
-2,617
-20,837
-300
-55
-1
-291
-470
7,198
-26,231
Capital account
39 Capital account transactions, net..................................................
-1,212
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives
(increase/financial outflow (-))..................................................
-483,653
41
42
43
44
45
46
47
48
49
50
51
52
53
-55
-1
17,918 -103,788
1,743
98,207
238,081 -230,575
-87,795
-91,896
107,001
248,566 -217,157 -120,493
-4,079
-1,912
-1,233
0
0
0
-27
-11
-23
-3,909
-1,768
-1,078
-143
-121
-144
-1,137 -100,624
51,076
-1,396
-2,267
-2,631
812
352
653
-553 -99,010
53,356
-98,572
104,279
48,364
-82,216 -83,234 -124,436
-40,110
35,980
3,604
-3,289
-833
0
0
-10
-10
-744
-3,179
-100
-79
15,204
16,650
-1,037
-2,538
844
680
15,397
18,508
224,720 -244,946
-73,453 -104,345
2,142
6,519
895
0
-6
969
-68
2,180
-2,140
595
3,725
-90,870
-49,212
-64,783
-1,912
-4,079
-1,233
0
0
0
-11
-27
-23
-3,909
-1,768
-1,078
-144
-143
-121
-1,137 -100,624
51,076
-2,267
-1,396
-2,631
812
653
352
-553 -99,010
53,356
-86,679
76,305
57,159
-70,323 -111,208 -115,641
^10,110
35,980
3,604
-3,289
-833
895
0
0
0
-10
-10
-6
-744
-3,179
969
-100
-79
-68
15,204
16,650
2,180
-2,538
-1,037
-2,140
844
680
595
18,508
15,397
3,725
235,206 -231,528 -123,568
-62,967 -90,927 -81,910
6,519
2,142 -64,783
1,582
24,608
267,046 -144,325
-7,642
30,767
9,326
14,428
U.S. official reserve assets
Gold.............................
Special drawing rights...
Reserve position in the International Monetary Fund..................
Foreign currencies........................................................................
U.S. government assets, other than official reserve assets.............
U.S. credits and other long-term assets......................................
Repayments on U.S. credits and other long-term assets............
U.S. foreign currency holdings and U.S. short-term assets.........
U.S. private assets............................................................................
Direct investment..........................................................................
Foreign securities.........................................................................
U.S. claims on unaffiliated foreigners reported by U.S.
nonbanking concerns...............................................................
U.S. claims reported by U.S. banks and securities brokers.........
-15,877
0
1,752
-18,079
450
-103,666
-7,307
3,333
-99,692
-364,110
-419,332
-146,797
-4,460
0
-37
-4,032
-391
85,110
-8,347
2,470
90,987
-62,732
-351,446
-52,518
-11,608
213,627
-30,635
371,867
9,326
14,428
derivatives (increase/financial inflow (+))..................................
1,000,990
384,902
271,532
48,612
60,760 -139,288
296,016
167,414
266,397
57,067
60,501 -142,149
290,599
175,951
Foreign official assets in the United States......................................
U.S. government securities...........................................................
U.S. Treasury securities............................................................
Other........................................................................................
Other U.S. government liabilities..................................................
U.S. liabilities reported by U.S. banks and securities brokers......
Other foreign official assets..........................................................
Other foreign assets in the United States........................................
Direct investment..........................................................................
U.S. Treasury securities................................................................
U.S. securities other than U.S. Treasury securities......................
U.S. currency................................................................................
U.S. liabilities to unaffiliated foreigners reported by U.S.
nonbanking concerns...............................................................
U.S. liabilities reported by U.S. banks and securities brokers......
211,826
158,735
171,179
-12,444
9,063
30,010
14,018
789,164
233,988
240,878
-56,442
54,996
373,642
347,872
354,781
-6,909
7,887
1,714
16,169
11,260
174,680
123,632
76,681
57,141
19,889
11,249
28,115
-16,866
2,287
5,121
1,232
251,643
68,357
120,918
-20,396
9,614
-2,859
-17,417
-17,573
156
1,826
12,215
517
51,471
67,665
82,519
-35,276
18,817
69,711
79,772
71,093
85,431
85,068
85,239
363 -14,146
2,833
2,661
2,404
-19,305
3,614
752
-8,951 -219,060
23,398
52,337
43,834
5,992
3,654 -43,065
18,057
7,116
131,111
115,425
104,914
10,511
1,652
8,007
6,027
164,905
47,225
47,820
47,556
16,156
93,048
75,923
79,560
-3,637
741
10,608
5,776
74,366
51,720
25,986
68,536
15,812
19,889
11,249
28,115
-16,866
2,287
5,121
1,232
246,508
63,222
120,918
-20,396
9,614
-2,859
-17,417
-17,573
156
1,826
12,215
517
59,926
76,120
82,519
-35,276
18,817
69,711
79,772
85,431
71,093
85,068
85,239
363 -14,146
2,833
2,661
2,404
-19,305
752
3,614
-9,210 -221,921
23,139
49,476
43,834
5,992
3,654 -43,065
18,057
7,116
131,111
115,425
104,914
10,511
1,652
8,007
6,027
159,488
41,808
47,820
47,556
16,156
93,048
75,923
79,560
-3,637
741
10,608
5,776
82,903
60,257
25,986
68,536
15,812
6,567
309,177
-24,952
-395,922
-19,670
92,820
24,212 -27,008
-39,989
-42,265 -122,106 -214,432
-4,943
11,091
-17,213
-70,475
-19,670
92,820
24,212 -27,008
-39,989
-42,265 -122,106 -214,432
-4,943
11,091
-17,213
-70,475
39,010
-89,208
-3,074
68,801
-3,949
-35,323
-5,127
73,097
2,985
21,357
-3,949
-62,094
32,613
55,263
-1,396
-32,338
464
11,763
-5,127
44,601
2,985
44,775
-26,771
20,223
18,254
-13,176
-28,496
23,417
54
55 Foreign-owned assets in the United States, excluding financial
56
57
58
59
60
61
62
63
64
65
66
67
-300
6,436
68
69
70 Financial derivatives, net...............................................................
71 Statistical discrepancy (sum of above items with sign reversed)
71a
Of which: Seasonal adjustment discrepancy...................................
65,122
86,411
32,613
35,040
-49,183
218,379
-1,396
-50,592
464
24,939
65,122
86,411
-49,183
218,379
24,608
1,582
267,046 -144,325
-7,642
30,767
Memoranda:
72
73
74
75
76
77
Balance on goods (lines 3 and 20)........................................................
Balance on services (lines 4 and 21)....................................................
Balance on goods and services (lines 2 and 19)..................................
Balance on income (lines 12 and 29)....................................................
Unilateral current transfers, net (line 35)...............................................
Balance on current account (lines 1,18, and 35 or lines 74,75, and 76)
p Preliminary
r Revised
1. Calculated excluding financial derivatives, net (line 70).
-738,413
178,533
-559,880
227,007
-133,053
-465,926
-735,313 -202,153 -186,332 -173,012 -189,290 -196,236 -176,774 -180,617 -189,254 -194,564 -186,002 -174,154 -180,593
48,571
44,252
52,212
52,148
45,795
42,969
45,965
48,349
49,309
52,176
195,799
48,893
42,545
-539,514 -153,581 -142,080 -124,119 -146,745 -144,024 -124,626 -134,822 -146,286 -148,599 -137,653 -124,845 -128,417
47,534
52,080
52,399
54,047
45,854
48,293
58,478
59,869
46,593
57,934
56,263
50,412
198,606
-31,207 -34,771
-34,827 -31,815 -32,240 -32,703 -32,780 -34,194 -34,398
-134,076 -32,525 -32,135 -33,271
-474,983 -128,172 -117,952 -106,978 -123,905 -132,941 -111,159 -108,158 -118,656 -133,768 -118,353 -112,446 -110,416
International Data
D-68
May 2013
Table F.3. U.S. International Transactions, by Area— Continues
[Millions of dollars]
European Union
Europe
Line
Euro area
United Kingdom
(Credits +; debits - )
2012:IV
2012:111r
Current account
1 Exports of goods and services and income receipts.....................................
2
Exports of goods and services............................................................................
3
Goods, balance of payments basis.................................................................
4
Services..........................................................................................................
5
Transfers under U.S. military agency sales contracts................................
6
Travel..........................................................................................................
7
Passenger fares.........................................................................................
8
Other transportation...................................................................................
9
Royalties and license fees..........................................................................
10
Other private services..
11
U.S. government miscellaneous services..................................................
12
Income receipts...................................................................................................
13
Income receipts on U.S.-owned assets abroad..............................................
14
Direct investment receipts..........................................................................
15
Other private receipts...
16
U.S. government receipts...........................................................................
17
Compensation of employees..........................................................................
18 Imports of goods and services and income payments..................................
19
Imports of goods and services............................................................................
20
Goods, balance of payments basis.................................................................
21
Services..........................................................................................................
22
Direct defense expenditures.......................................................................
23
Travel...............
24
Passenger fares.........................................................................................
2b
Other transportation...................................................................................
26
Royalties and license fees..........................................................................
2/
Other private services................................................................................
28
U.S. government miscellaneous services...................................................
29
Income payments................................................................................................
30
Income payments on foreign-owned assets in the United States..................
31
Direct investment payments.......................................................................
32
Other private payments..............................................................................
33
U.S. government payments........................................................................
34
Compensation of employees..........................................................................
35 Unilateral current transfers, net......................................................................
36
U.S. government grants.......................................................................................
3/
U.S. government pensions and other transfers...................................................
38
Private remittances and other transfers..............................................................
2012:1111
p
2012:1V
2012:111'
p
2012:IV
2012: IV
2012:111r
p
p
221,098
225,058
183,515
186,561
126,139
128,604
46,463
46,596
140,361
79,818
60,543
377
10,794
3,408
4,334
14,488
27,058
83
80,738
80,598
53,413
27,000
185
140
141,713
81,737
59,976
387
8,296
2,748
4,380
15,471
28,611
84
83,345
83,207
55,931
27,187
89
138
114,472
64,304
50,168
174
9,623
2,994
3,771
11,686
21,851
69
69,043
68,938
45,177
23,589
172
105
115,387
66,031
49,356
175
7,372
2,430
3,736
12,477
23,097
69
71,174
71,072
47,254
23,740
79
102
78,583
46,783
31,800
88
5,828
1,854
2,104
9,034
12,844
48
47,555
47,505
35,557
11,785
163
51
79,487
48,317
31,171
67
4,349
1,423
2,088
9,594
13,600
49
49,117
49,066
37,005
11,987
74
51
27,783
13,473
14,310
33
2,900
880
1,010
2,051
7,420
15
18,680
18,650
8,341
10,301
8
30
27,232
13,025
14,207
76
2,254
772
997
2,223
7,870
15
19,364
19,339
9,039
10,295
4
26
-231,065
-228,163
-192,711
-191,032
-135,311
-132,500
-43,563
-45,166
-162,740
-114,873
-47,867
-2,907
-7,924
-4,126
-6,067
-5,708
-20,610
-525
-68,325
-68,116
-32,419
-29,163
-6,534
-209
-159,950
-115,550
-44,400
-2,800
-4,093
-3,102
-5,837
-6,246
-21,762
-560
-68,213
-67,950
-30,900
-30,476
-6,574
-263
-136,331
-96,705
-39,627
-2,619
-7,005
-3,752
-4,855
-4,290
-16,757
-349
-56,380
-56,247
-26,635
-25,464
-4,148
-133
-133,708
-97,273
-36,435
-2,550
-3,664
-2,881
-4,653
-4,638
-17,687
-362
-57,324
-57,158
-26,564
-26,451
-4,143
-166
-99,009
-74,737
-24,272
-2,324
-4,983
-2,413
-2,909
-2,618
-8,730
-295
-36,303
-36,259
-17,876
-15,776
-2,607
-44
-97,133
-75,500
-21,633
-2,247
-2,635
-1,721
-2,728
-2,872
-9,127
-303
-35,367
-35,300
-16,359
-16,356
-2,585
-67
-25,979
-13,857
-12,122
-272
-1,490
-1,154
-824
-1,261
-7,093
-28
-17,583
-17,525
-7,500
-8,875
-1,150
-59
-25,807
-13,984
-11,823
-275
-793
-1,043
-805
-1,317
-7,559
-30
-19,358
-19,296
-8,906
-9,203
-1,187
-62
-3,258
-3,612
-679
-546
-2,034
-675
-545
-2,392
-61
-509
-333
-808
-489
-74
-221
-159
-75
-508
-225
-5
-365
-119
-12
0
-62
(*)
-83
-138
0
-85
-74
39 Capital account transactions, net...................................................................
0
4,431
0
3,179
0
n.a.
0
1,616
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives (increase/
financial outflow (-))...................................................................................
-159,881
-33,237
-153,743
-48,374
-14,012
-47,401
-135,035
-9,222
-71
0
-47
0
-71
0
-47
0
-71
0
-41
0
0
0
0
0
-903
Capital account
41
U.S. official reserve assets..................................................................................
42
Gold.................................................................................................................
43
44
45
46
U.S. government assets, other than official reserve assets...............................
47
U.S. credits and other long-term assets.........................................................
48
Repayments on U.S. credits and other long-term assets..............................
49
U.S. foreign currency holdings and U.S. short-term assets...........................
50
U.S. private assets..............................................................................................
61
Direct investment............................................................................................
52
Foreign securities...........................................................................................
53
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
54
U.S. claims reported by U.S. banks and securities brokers...........................
55 Foreign-owned assets in the United States, excluding financial derivatives
(increase/financial inflow (+))......................................................................
56
Foreign official assets in the United States.........................................................
57
U.S. government securities.............................................................................
68
U.S. Treasury securities..............................................................................
59
Other..........................................................................................................
60
Other U.S. government liabilities....................................................................
61
U.S. liabilities reported by U.S. banks and securities brokers........................
62
Other foreign official assets............................................................................
63
Other foreign assets in the United States...........................................................
64
Direct investment.............
65
U.S. Treasury securities..................................................................................
66
U.S. securities other than U.S. Treasury securities.........................................
6/
U.S. currency..................................................................................................
68
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns.....................................................................................................
69
U.S. liabilities reported by U.S. banks and securities brokers........................
70 Financial derivatives, net................................................................................
71 Statistical discrepancy (sum of above items with sign reversed)..................
Memoranda:
72 Balance on goods (lines 3 and 20)..........................................................................
/3 Balance on services (lines 4 and 21)......................................................................
/4 Balance on goods and services (lines 2 and 19).....................................................
75 Balance on income (lines 12 and 29)......................................................................
76 Unilateral current transfers, net (line 35).................................................................
77 Balance on current account (lines 1,18, and 35 or lines 74,75, and 7 6)..............
p Preliminary
r Revised
(*) Transactions are less than $500,000 (+/-)
1. Details not shown separately; see totals in lines 56 and 63.
-71
-47
-71
15,424
-44
56
15,412
-175,234
-59,751
-30,046
-9,245
-76,192
3,601
-104
36
3,669
-36,791
-13,512
-65,406
-2,087
44,214
15,397
-39
33
15,403
-169,069
-53,963
-32,665
-8,422
-74,019
-47
3,588
-101
8
3,680
-51,915
-21,432
-68,762
-1,395
39,674
-71
15,415
-22
32
15,405
-29,356
-34,367
-2,824
-7,478
15,313
-47
3,630
-58
8
3,680
-50,984
-14,400
-38,251
-2,749
4,416
-35
-34
0
-1
-135,000
-18,857
-33,002
-817
-82,324
-41
-43
(*)
2
-9,181
-6,747
-38,261
1,466
34,361
207,203
50,398
123,321
37,975
49,848
28,762
77,594
5,406
51,652
( 1)
(1)
( ’)
11
( 1)
( 1)
155,551
32,615
13,935
( 1)
( 1)
(')
-321
( ’)
( 1)
36,463
36,488
5,111
33,111
(2)
(2)
(2)
I 2)
33
(2)
(2)
(2)
35,746
(2)
11,509
(2)
(2)
(2)
(2)
187
(2)
(2)
(2)
13,780
(2)
n.a.
29,171
(2)
(2)
(2)
( 2)
-14
(2)
(2)
(2)
13,115
(2)
n.a.
25,646
(2)
(2)
(2)
( 2)
-83
(2)
(2)
(2)
36,742
(2)
(2)
(2)
(2)
( 2)
38,243
32,742
(2)
(2)
(2)
( 2)
138
(2)
(2)
(2)
27,199
(2)
19,872
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
-8,922
-8,194
-8,511
-8,400
-4,392
-4,167
247,922
-6,292
2-3,714
4,637
(2)
(2)
(2)
85
(2)
15,328
60,873
-30,053
278,849
2-19,455
2 36,502
-2,233
2-16,293
-6,845
-27,252
-1,238
-13,638
-5,661
46,183
-280
12,779
8,707
-34,882
-4,728
-14,145
4,113
427,337
68,907
-3,185
-35,055
12,675
-22,380
12,413
-3,258
-13,225
-33,814
15,577
-18,237
15,132
-3,612
-6,717
-32,401
10,542
-21,859
12,663
-903
-10,099
-31,242
12,921
-18,321
13,851
-808
-5,278
-27,954
7,528
-20,426
11,253
-489
-9,661
-27,183
9,538
-17,646
13,750
-74
-3,970
-384
2,187
1,803
1,097
-221
2,679
-960
2,384
1,425
6
-159
1,271
2. Details not shown separately are included in line 69.
3. Estimates of financial derivatives for Mexico are included in Latin America and Other Western Hemisphere; and for
China and India, in Asia and Pacific. Estimates for the Middle East are combined with estimates for Asia and Pacific.
4. Calculated excluding financial derivatives, net (line 70).
May 2013
S urvey
D-69
C u r r e n t B u s in e s s
of
Table F.3. U.S. International Transactions, by Area—Continues
[Millions of dollars]
Latin America and
Other Western Hemisphere
Canada
Line
(Credits +; debits - )
2012:111r
Current account
1 Exports of goods and services and income receipts.....................................
2
Exports of goods and services............................................................................
3
Goods, balance of payments basis.................................................................
4
Services....................................
5
Transfers under U.S. military agency sales contracts................................
6
Travel.......................................................................................
7
Passenger fares......
8
Other transportation.
9
Royalties and license fees..........................................................................
10
Other private services................................................................................
11
U.S. government miscellaneous services..................................................
12
Income receipts...................................................................................................
13
Income receipts on U.S.-owned assets abroad..............................................
14
Direct investment receipts................
1b
Other private receipts.......................
16
U.S. government receipts.................
1/
Compensation of employees................
18 Imports of goods and services and income payments..................................
19
Imports of goods and services............................................................................
20
Goods, balance of payments basis.................................................................
21
Services..........................................................................................................
22
Direct defense expenditures.......................................................................
23
Travel.......................
24
Passenger fares......
2b
Other transportation.
26
Royalties and license fees..........................................................................
27
Other private services......................
28
U.S. government miscellaneous services..................................................
29
Income payments...............................
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