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NOVEMBER 1998
11
«-=!>• VOLUME 78 NUMBER
SURVEY of CURRENT BUSINESS
IN THIS ISSUE ...
Manufacturing Earnings in BEA Component
Economic Areas, 1996
U.S. DEPARTMENT OF COMMERCE ^ ECONOMICS AND STATISTICS
BUREAU OF ECONOMIC ANALYSIS
ADMINISTRATION
NOVEMBER 1998
VOLUME 78
NUMBER
11
SURVEY of
CURRENT BUSINESS
SURVEY OF CURRENT BUSINESS (ISSN
0039-6222). Published monthly by the
Bureau of Economic Analysis of the U.S.
Department of Commerce. Editorial
correspondence should be addressed to the
Editor-in-Chief, SURVEY OF CURRENT
BUSINESS, Bureau of Economic Analysis,
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AND STATISTICS
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THIS ISSUE of the SURVEY went to the printer on November 10,1998,
ItincorporatesdatafromthefollowingmonthlyBEAnewsreieases:
U.S. International Trade in Goods and Services {October 20),
Gross Domestic Product (October 30), and
Personal Income and Outlays (November 2).
November 1998
SURVEY OF CURRENT BUSINESS
TABLE
OF
CONTENTS
(Special in this issue
55
Manufacturing Earnings in BEA Component Economic Areas, 1996
Among BEA component economic areas (CEA'S), the CEA'S with the highest average manufacturing earnings per job are those that have a greater proportion
of manufacturing jobs, have a large, well-educated workforcet and have higher
concentrations of industry clustering. The results from a regression analysis
show that industry mix is the most important factor associated with average
manufacturing earnings per job and that the education level of the workforce
and the extent of industry clustering are also significant.
l\egular features
1
Business Situation
U.S. economic activity picked up in the third quarter of 1998: Real GDP increased 3.3 percent after increasing 1.8 percent in the second quarter. The price
index for gross domestic purchases increased 0.5 percent after increasing 0.4
percent.
6
Motor Vehicles, Model Year 1998
In model year 1998, sales of motor vehicles increased to 15.7 million units from
15.4 million units in model year 1997. The increase was more than accounted
for by another strong increase in sales of new trucks, which reached a record
7.6 million units. Sales of new cars declined for the fourth consecutive year.
13
Comparison of BEA Estimates of Personal Income and IRS Estimates of Adjusted Gross Income: New Estimates for 1996 and
Revised Estimates for 1982-95
BEA'S measure of personal income and the IRS measure of adjusted gross income are reconciled through a series of adjustments for definitional differences
between the two measures. This year's reconciliation reflects the recent annual
revision of the NIPA'S, including the redefinition of dividend payments and the
incorporation of revised IRS tabulations of capital gains distributions.
— Continued on next page —
If
SURVEY OF CURRENT BUSINESS
20
Gross Product by Industry, 1995-97
The estimates of gross product by industry for 1995-96 have been revised to
incorporate the results of this year's annual revision of the NIPA'S and newly
available source data, and new estimates for 1997 have been prepared. In
1997, durable goods manufacturing and services were the largest contributors
to the ^-percent increase in real GDP; finance, insurance, and real estate and
services were the largest contributors to the i.y-percent increase in the GDP
price index.
41
Reconciliation of the U.S.-Canadian Current Account, 1996 and
1997
For both 1996 and 1997, the reconciliation of the U.S.-Canadian current account results in a U.S. current-account deficit with Canada that is larger than
the deficit shown in the U.S. published accounts. The annual reconciliation
shows how the current-account estimates would appear if both countries used
the same definitions, methodologies, and data sources.
66
Personal Income by State and Region, Second Quarter 1998
Personal income in the Nation increased $78.0 billion, or 1.1 percent, in the
second quarter 0/1998. By region, the largest increase was in the Southeast,
which accounted for 22 percent of the growth. By State, the fastest growth in
personal income was in Nevada, Arizona, South Carolina, Utah, and Vermont.
The slowest growth was in South Dakota, Hawaii, New Jersey, and Michigan.
l\eports and statistical presentations
D-l
BEA Current and Historical Data
Inside back cover: BEA Information
(A listing of recent BEA publications available from GPO)
Back cover: Schedule of Upcoming BEA News Releases
LOOKING AHEAD
New Structures and Equipment by Using Industries. An article that presents the 1992
capital flow table for the United States will be published in the December SURVEY. The
capital flow table, which shows the using industries for each type of new structure and
equipment in gross private fixed investment, is an extension of the 1992 benchmark
input-output accounts for the U.S. economy.
Evaluation of the GDP Estimates. An article that presents the results of a periodic
evaluation of the estimates of gross domestic product (GDP) will be published in the
December SURVEY. The article will examine the record of revisions to the annual and
quarterly estimates of GDP and of national income in order to assess the reliability of
these estimates.
November 1998
SURVEY OF CURRENT BUSINESS
November 1998
This article was
prepared by Daniel
Larkins, Larry R.
Moran, Ralph W.
Morris, and
Deborah Y. Sieff.
BUSINESS
SITUATION
CONOMIC GROWTH accelerated in the third
quarter of 1998, according to the "advance"
estimates of the national income and product
accounts (NIPA'S), as real gross domestic product (GDP) increased 3.3 percent after increasing
1.8 percent in the second quarter (chart i and
table i).1 Prices increased at about the same rate
as in the second quarter; for example, the price
index for gross domestic purchases increased 0.5
percent after increasing 0.4 percent. Real dispos-
able personal income (DPI) increased 2.6 percent,
the same as in the second quarter, and the
personal saving rate (current-dollar saving as a
percentage of cur rent-dollar disposable personal
income) continued its downtrend, decreasing to
o.i percent from 0.4 percent.
i. Quarterly estimates in the NIPA'S are expressed at seasonally adjusted
annual rates unless otherwise specified. Quarter-to-quarter dollar changes
are differences between the published estimates. Quarter-to-quarter percent
changes are annualized and are calculated from unrounded data. Real estimates are calculated using a chain-type Fisher formula with annual weights
and are expressed both as index numbers (1992=100) and as chained (1992)
dollars. Price indexes (1992=100) also are calculated using a chain-type Fisher
formula.
Table 1.—Real Gross Domestic Product, Real Gross Domestic Purchases, and Real
Final Sales to Domestic Purchasers
[Seasonally adjusted at annual rates]
Billions of chained (1992) dollars
Level
Change from preceding
quarter
REAL GROSS DOMESTIC PRODUCT
1998
1998
1997
III
IV
I
Gross domestic product
7,559.5
53.4
100.1
33.9
60.9
3.0
Less\ Exports of goods and services
Plus' Imports of goods and services
965.0
1,227.5
10.7
17.3
-6.9
42.6
-19.8
26.9
-7.1
10.2
4.4 -2.8
6.3 15.7
Equals: Gross domestic purchases
7,794.5
59.0
142.8
73.7
75.9
3.2
24.9
23.2
Less: Change in business inventories
Nonfarm
Farm
1998
IV
II
-53.2
-56.0
3.4
1.6
I
II
III
III
5.5
1.8
-7.7
3.3
9.3
3.4
7.8
3.9
4.0
6.6
6.7
3.0
8.5
Equals: Final sates to domestic purchasers
7,734.1
44.1
120.1
124.2
57.7
2.4
Personal consumption expenditures
Durable goods
. . <.
...
Nondurable goods
Services . .
Gross private domestic fixed investment
Nonresidentia! fixed investment
Structures
Producers' durable equipment . .
Residential investment
Government consumption expenditures and
gross investment
<
Federal
National defense
Nondefense
..
State and local
5,179.3
729.4
1,549.6
2,905.4
1,267.8
958.1
198.6
773.3
314.3
34.0
75.1
19.1
19.7
37.5
39.2
28.5
-1.2
32.5
10.6
49.1
4.0
.5
3.8
5.6
74.1
25.5
26.9
24.5
55.4
45.7
-2.6
52.4
10.6
6.1 6.1 3.9
2.8
3.1 15.8 11.2
0
-.4 7.4 5.3
2.3
4.3
3.5 5.4 5.5
1.2
3.6 20.4 13.4
1.8 222 12.8 -1.0
.9 -4.9 -2.3 -6.5
2.2 34.3
18.8
1.1
8.2 15.6 15.0
6.8
.3
-6.2
11.8
Addendum: Final sales of domestic product
7,499.2
1,299.4
452.1
303.4
148.1
847.5
5.2
-1.4
29.4
10.2
-10.4
-15.4
4.6
-.9
4.2
2.8
-2.4
-1.5
38.5
77.7
8.0
7.0
1.0
3.8
83.9
10
illllljlllI
REAL GROSS DOMESTIC PURCHASES
19.0
19.3
-.2
0
8.7
38.6
3.7
-2.3
^3.3
2.0
5.2
4.6
-2.0
3.1
-4.8
6.6
42.8
.1 -1.9
1.3
2.1
3.7
1.4
7.3 -1.7
9.9 4.2
2.6 -12.1
3.2
1.8
2.1
4.3
4.6
-2.1
-2.0
-2.3
-8.8
-18.5
13.1
2.3
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992 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 usually are not additive. Chained (1992) dollar levels and residuals,
which measure the extent of nonadditivity in each table, are in NIPA tables 1.2, 1.4, and 1.6. Percent changes are calculated from
unrounded data. Percent changes in major aggregates are in NIPA table 8.1.
I
-2.9
15.5
18.7
-3.6
57.2
49.2
Selected Measures:
Change From Preceding Quarter
Percent
10
Percent change from
preceding quarter
1997
The acceleration in real GDP growth from 1.8
percent to 3.3 percent was more than accounted
for by inventory investment. Inventory stocks
increased $57.2 billion in the third quarter after increasing $38.2 billion in the second; in
the first quarter, stocks had increased $91.4 billion. This pattern of inventory investment added
0.96 percentage point to the third-quarter change
•jilllillll
GROSS DOMESTIC PURCHASES PRICE INDEX
l l l l l l l l l . i l ...
1095
1996 199?
Note—Percent change at annual rate from preceding quarter;
based on seasonally adjusted estimates.
U.S. Department of Commerce, Bureau of Economic Analysis
SURVEY OF CURRENT BUSINESS
2 • November 1998
in real GDP after subtracting 2.66 percentage
points from the second-quarter change. Real final sales of domestic product—GDP less change in
business inventories—decelerated to a 2.3-percent
increase, following a 4.6-percent increase.
The largest contributors to the 3.3-percent
third-quarter increase in real GDP were personal
consumption expenditures (PCE) and inventory
investment.2 PCE increased 3.9 percent and con-
tributed 2.64 percentage points to GDP growth;
purchases of services and of nondurable goods
rose.3 The o.p6-percentage-point contribution
2. The level of GDP was not affected by the privatization in late July of the
United States Enrichment Corporation (USEC) by the Federal Government,
3. NIPA table 8.2 shows the contributions of the major components of
GDP to the quarter-to-quarter percent change in real GDP.
but the composition of GDP was affected. (The USEC performed commercial
nuclear enrichment activities.) Proceeds of the sale totaled $3.1 billion (current dollars), $1.5 billion of which was treated as a sale of financial assets and,
consequently, was excluded from GDP. The remaining $1.6 billion ($6.4 billion
at an annual rate) was the market value of uranium inventories and machinery and equipment. The inventory portion was deducted from government
consumption expenditures and added to the change in business inventories;
the machinery and equipment portion was deducted from government gross
investment and was added to gross private domestic fixed investment.
Third-Quarter 1998 Advance GDP Estimate: Source Data and Assumptions
The "advance" GDP estimate for the third quarter
is based on preliminary and incomplete source data;
as more and better data become available, the estimate will be revised. The advance estimate is based
on the following major source data. (The number
of months for which data were available is shown in
parentheses.)
Personal consumption expenditures'. Sales of retail stores
(3) and unit auto and truck sales (3);
Nonresidential fixed investment Unit auto and truck
sales (3), construction put in place (2), manufacturers'
shipments of machinery and equipment other than aircraft (3), aircraft shipments (2), and exports and imports
of machinery and equipment (2);
Residential investment Construction put in place (2)
and single-family housing starts (3);
Change in business inventories: Manufacturing and
trade inventories (2) and unit auto and truck inventories
(3);
Net exports of goods and services: Exports and imports
of goods and services (2);
Government consumption expenditures and gross investment Department of Defense outlays (3), other Federal
outlays (3), State and local construction put in place (2),
and State and local employment (3);
GDP prices: Consumer Price Index (3), Producer Price
Index (3), U.S. Import and Export Price Indexes (3), and
values and quantities of petroleum imports (2).
BEA made assumptions for source data that were not
available. Table A shows the assumptions for key series;
a more comprehensive listing of assumptions is available
on the Department of Commerce's Economic Bulletin
Board or from BEA.
Table A.—Summary of Major Data Assumptions for Advance Estimates, 1998:111
[Billions of dollars, seasonally adjusted at annual rates]
19 98
April
Fixed investment:
Nonresidential structures:
Buildings, utilities, and farm:
Value of new nonresidential construction put in place
Producers' durable equipment:
Manufacturers' shipments of complete civilian aircraft
Residential structures:
Value of new residential construction put in place:
1-unit structures
2-or-more-unit structures
Change in business inventories, nonfarm:
Change in inventories for manufacturing and trade (except nonmerchant
wholesalers) for industries other than motor vehicles and equipment in trade
1694
May
1663
June
1696
July
1652
August
1643
September
1
1646
41 0
431
444
524
420
182.1
181.4
185.0
188.2
188.4
24.8
22.9
23.0
23.5
22.3
225
36.6
23.9
44.3
20.4
35.2
26.9
6640
6605
6566
6522
6572
6524
6459
6432
6444
6378
6687
927.6
922.0
898.3
893.1
-2524
-2499
9228
913.6
-2784
-2758
9283
9209
-2596
-2588
131.6
133.9
132.7
458
1907
2
Net exports:
Exports of goods:
U S exports of goods balance-of-payments basis
Excluding nonmonetary gold
Imports of goods:
U S imports of goods balance-of-payments basis
Excluding nonmonetary gold
Net exports of goods (exports less imports)
Excluding nonmonetary gold
Government consumption expenditures and gross investment:
State and local:
Structures:
Value of new construction out in olace
1. Assumed.
2. Nonmonetary gold is included in balance-of-payments-basis exports and imports but is
not used directly in the estimation of NIPA exports and imports.
9200
914.8
-2560
-2543
-2698
903.6
897.9
-2464
-2455
132.3
126.0
132.9
-271 0
6621
SURVEY OF CURRENT BUSINESS
by inventory investment largely reflected a sharp
reduction in the pace of inventory liquidation
in the motor vehicle industry. (Though inventory investment in the motor vehicle industry
boosted third-quarter GDP, total motor vehicle
output decreased, restraining GDP; inventory investment and output were both affected by a
strike in the industry.) Residential investment
and government spending also contributed to the
third-quarter increase in real GDP. The increase in
real GDP was damped by an increase in imports
and by decreases in exports and in nonresidential
fixed investment.
November 1998
favorable than in the second quarter. As mentioned earlier, real disposable personal income
increased 2.6 percent, the same as in the second quarter. The Index of Consumer Sentiment
(prepared by the University of Michigan Survey
Research Center) decreased but remained high.
The unemployment rate increased from 4.4 percent to 4.6 percent. In addition, motor vehicle
manufacturers continued to offer attractive salesincentive programs, and interest rates on new-car
loans changed little.
Exports and imports of motor vehicles both
decreased substantially more than in the second
quarter.
Motor vehicle inventories decreased $3.7 billion
after decreasing $22.6 billion; in the first quarter,
they had increased $2.6 billion. For new domestic
autos, the inventory-sales ratio (calculated from
units data) increased to 2.3 at the end of the third
quarter from 1.9 at the end of the second; the
traditional industry target is 2.4.
Motor vehicles.—Real motor vehicle output decreased 6.0 percent in the third quarter after decreasing 11.2 percent in the second; both decreases
partly reflected the strike at a motor vehicle manufacturer from June 5 to July 29. Truck output
accounted for the third-quarter decrease; auto
output increased after three consecutive decreases
(table 2).
Final sales of motor vehicles to domestic purchasers decreased 23.0 percent after increasing
22.9 percent.4
Purchases by consumers, by
businesses, and by governments all turned down.
Consumer purchases turned down sharply even
though the factors frequently considered in analyses of consumer spending were only a little less
Prices
The price index for gross domestic purchases,
which measures the prices of the goods and services purchased by U.S. residents, increased 0.5
percent in the third quarter after increasing 0.4
percent in the second (table 3). The price index
for gross domestic purchases less food and energy
4. For a longer term perspective on motor vehicle output and sales, see
"Motor Vehicles, Model Year 1998" in this issue.
Table 2.—Motor Vehicle Output, Sales, and Inventories
[Seasonally adjusted at annual rates]
Billions of chained (1992) dollars
Level
Percent change from preceding
quarter
Change from preceding quarter
1997
1998
1997
III
IV
Output
Autos
Trucks
Less'. Exports
Autos
Trucks
Plus: Imports
Autos
Trucks
II
I
1.8
8.4
-12.4
15.2
-2.2
31.9
-17.5
-.4
21.0
12.8
.8
-.1
.1
-.2
-.9
-.8
-.1
-5.1
-2.1
-3.0
13.1
-2.3
0
35.2
9.6
-.7
.8
-^3.3
Equals'. Gross domestic purchases
Autos
.
Trucks
315.0
169.1
145.6
5.5
Less: Change in business inventories
Autos
Trucks
-3.7
2.6
-6.0
Equals'. Final sales to domestic purchasers
Autos
Trucks
318.7
166.6
151.8
Addenda:
Personal consumption expenditures
Producers' durable equipment
Gross government investment
189.8
122.4
7.6
IV
III
10.2
79.4
66.7
12.6
NOTE.—See note to table 1 for an explanation of chained (1992) dollars. Truck output includes
new trucks only; auto output includes new cars and used cars. Chained (1992) dollar levels for
II
I
256.7
115.3
140.9
8.2
.
1998
1998
-6.2
-5.7
-7.8
-9.7
-4.0
6.4
6.1
.3
-1.1
-8.1
-5.1
-2.7
8.2
.5
.4
.1
0
-9.0
9.5
3.7
5.5
-7.7
-4.3
-3.4
-25.2
-12.2
-12.7
18.9
14.9
-4.2
-6.4
8.2
4.6
3.5
-2.2
-1.1
-2.8
2.3
-1.7
-.6
-1.9
3.6
5.4
-.7
.8
-1.9
-3.6
-4.0
.3
6.4
-8.6
-1.0
III
-11.2
-29.2
4.8
.6
-12.2
-17.0
-6.2
-5.2
-71.3
-15.5
-12.8
-26.5
37.5
44.7
-4.9
-16.4
-20.7
7.5
^3.3
12.0
7.0
.6
1.0
.1
-9.5
-3.3
16.7
-.3
-6.5
24.6
4.8
-17.7
.1
-58.3
^5.9
-21.5
4.2
-21.5
-5.1
3.8
-S.1
13.3
-13.4
-14.2
6.4
9.1
6.3
1.9
-9.2
-9.8
-2.9
-5.5
-1.9
19.1
20.5
21.3
-53.5
-24.4
121.8
17.1
-6.0
35.2
-28.5
10.8
11.5
10.0
7.9
22.9
9.2
39.7
-23.0
-17.3
-28.7
-17.2
-26.4
-72.4
motor vehicle output, auto and truck output, and residuals, which measure the extent of
nonadditivity in each table, are in NIPA tables 1.4, 8.5, and 8.7.
SURVEY OF CURRENT BUSINESS
November 1998
increased 0.6 percent, about the same as in the
second quarter (chart 2).
PCE prices increased i.o percent after increasing 0.9 percent. PCE energy prices decreased
5.8 percent after decreasing 7.5 percent, as prices
of gasoline and oil decreased less than in the
second quarter. PCE food prices increased 2.8 percent after increasing 1.3 percent, partly reflecting
step-ups in the prices of poultry and of processed dairy products. Prices of PCE less food and
energy increased i.o percent after increasing 1.3
percent; prices of furniture and household equipment decreased more than in the second quarter,
and prices of housing increased less than in the
second quarter.
Prices of nonresidential fixed investment decreased 3.6 percent after decreasing 3.1 percent.
Prices of structures increased 0.7 percent after increasing 3.1 percent. Prices of producers' durable
equipment decreased 5.1 percent, about the same
as in the second quarter; prices of computers
and peripheral equipment decreased about the
same as in the second quarter, prices of industrial
equipment slowed, and prices of transportation
equipment turned up. Prices of private residential investment increased 2.3 percent after
increasing 1.7 percent.
Prices of government consumption expenditures and gross investment increased 1.1 percent
Table 3.—Price Indexes
[Percent change at annual rates; based on seasonally adjusted index numbers
(1992=100)]
1997
IV
Gross domestic product
Less* Exports of goods and services
Plus: Imports of goods and services
Equals: Gross domestic purchases
1998
I
II
1.1
0.9
-1 6
-34
-2.3
-10.4
III
0.9
0.8
-1 8
-29
-4.5
-4.8
1.0
-.2
.4
.5
1.0
-.1
.5
.5
1.1
.9
13
1.0
2.8
2.3
0
11
-202
-75
10
11
1.3
Less: Change in business inventories
Equals: Final sales to domestic purchasers
Personal consumption expenditures
Food
Energy
Personal consumption expenditures less
food and energy
Private nonresidential fixed investment
Structures
Producers' durable equipment
12
-1.6
3.3
-0.3
-3.0
2.7
-5.0
-3.1
3.1
-5.2
1.0
Current-dollar DPI increased 3.6 percent after increasing 3.5 percent. The personal saving rate
decreased to o.i percent from 0.4 percent, reflecting a larger increase in personal outlays than
in DPI (chart 3). The third-quarter saving rate
was the lowest since the quarterly series began
in 1946. (Personal saving and the saving rate
need not be greater than zero; negative personal
Gross Domestic Purchases Prices:
Change From Preceding Quarter
Percent
1 Total
Less Food and Energy
-3.6
.7
-5.1
Private residential investment
24
0
17
2.3
2.2
1.4
1.2
1.8
27
1.1
2.7
2.9
2.2
2
.8
0
.3
-.6
1.1
.1
.2
0
1.6
12
Personal income
-5.8
Government consumption expenditures and
gross investment
Federal
National defense
Nondefense
State and local
Addendum: Gross domestic purchases
less food and energy
after increasing 0.8 percent.
Prices paid by
the Federal Government increased o.i percent
after no change; nondefense prices were unchanged after decreasing, and national defense
prices increased about as much as in the second
quarter. Prices paid by State and local governments increased 1.6 percent after increasing 1.2
percent.
The GDP price index, which measures the prices
of goods and services produced in the United
States, increased 0.8 percent after increasing 0.9
percent. This index, unlike the index for gross
domestic purchases, includes the prices of exports and excludes the prices of imports. Export
prices decreased 2.9 percent after decreasing 1.8
percent; prices of industrial supplies and materials and prices of nonautomotive capital goods
decreased more than in the second quarter. Import prices decreased 4.8 percent after decreasing
4.5 percent; prices of foods, feeds, and beverages,
of industrial supplies and materials, and of autos
decreased more than in the second quarter, but
prices of petroleum products and of nonautomotive consumer goods decreased less than in the
second quarter.
Hill n
II I"".. 1
1
1995
1996
1
1997
.6
Note—Percent change at annual rate from preceding Quarter;
based on seasonally adjusted Index numbers (1992=100).
NOTE—Percent changes in major aggregates are in NIPA table 8.1. Index number levels are
in tables 7.1. 72. and 7.4.
U.S. Department of Commerce, Bureau of Economic Analysis
1.0
.7
.7
1998
November 1998
SURVEY OF CURRENT BUSINESS
saving, or dissaving, may occur when outlays are
financed by borrowing, by selling investments or
other assets, or by using savings from previous
periods.)
Personal income increased $73.7 billion in the
third quarter after increasing $78.0 billion in the
second (table 4). In both quarters, the increase
was mainly accounted for by wage and salary disbursements, which increased $57.8 billion after
increasing $55.7 billion. Private wages and salaries
increased $51.1 billion after increasing $49.4 billion. In both quarters, about two-thirds of the
increase was accounted for by service industries,
and the remaining third was accounted for by
distributive industries; manufacturing decreased
slightly after increasing slightly. Government
CHARTS
wages and salaries increased $6.6 billion, about
the same as in the second quarter.
Transfer payments increased $6.4 billion after
increasing $6.8 billion.
Personal interest income increased $4.6 billion
after increasing $6.0 billion. Proprietors' income
increased $3.2 billion after increasing $7.5 billion;
most of the slowdown was accounted for by a
downturn in farm proprietors' income, as crop
prices decreased more than in the second quarter
and livestock prices decreased after increasing.
Personal contributions for social insurance,
which is subtracted in the calculation of personal
income, increased $4.3 billion, about the same as
in the second quarter.
Personal tax and nontax payments increased
$20.3 billion after increasing $26.1 billion. The
slowdown was primarily accounted for by a
downturn in estate and gift tax collections, l^ejj
Selected Personal Income and
Saving Measures
Table 4.—Personal Income and Its Disposition
Billions $
140
[Billions of dollars; seasonally adjusted at annual rates]
CHANGE IN PERSONAL INCOME
Level
120
Change from preceding
quarter
1998
1998
1997
100
III
li
80
60
40
20
Percent
10
Wage and salary disbursements
Private industries
Goods-producing industries
Manufacturing
Distributive industries
Service industries
Government
CHANGE IN REAL DPI
I lllll.lllllll
Percent
10
PERSONAL SAVING RATE
1995
1996
Note—Changes are from preceding quarter;
1997
US. Department of Commerce, Bureau of Economic Analysis
1998
II
III
74.4
69.5
24.3
19.0
18.2
27.0
72.0
64.0
15.3
55.7
49.4
57.8
51.1
3.6
-.5
13.8
33.7
8.1
6.3
6.6
5.8
2.9
2.6
6.2
7.5
.3
7.2
574.9
550.7
6.4
Rental income of persons with CCAdj
Personal dividend income
Personal interest income
163.6
263.0
767.6
.2
.9
2.5
1,152.2
6.5
349.4
5.4
Transfer payments to persons
4.2
.4
13.3
31.9
3.4
Proprietors' income with IVA and CCAdj
Farm
Nonfarm
24.2
9.1
14.4
34.3
4.7
408.3
1.5
-4.9
-4.0
10.2
-.5
.3
4.0
18.5
7.3
3.2
-3.5
6.7
2.7
.5
6.0
2.6
.9
4.6
6.8
6.4
4.2
4.3
Personal income
7,155.6
84.0
99.0
78.0
73.7
Less: Personal tax and nontax payments
1,113.2
26.5
41.3
26.1
20.3
Equals: Disposable personal Income
6,042.4
57.6
57.7
51.8
53.5
Less' Personal outlays
6,036.4
57.9
82.8
99.3
73.1
Equsls". Personal saving
Illillllllll,.
I
Other labor income
Less' Personal contributions for social insurance
-5
4,175.4
3,482.9
1,026.8
750.3
946.0
1,510.1
692.4
IV
Addenda: Special factors in personal income:
In wages and salaries:
Federal Government and Postal Service pay adjustments, including
"buyouts"
Strike in the motor vehicle industry
In personal tax and nontax payments:
Recent tax law changes
Nom-Most dollar levels are in NIPA table 2.1.
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
5.9
-.3 -25.2
4.0
-2.5
0
0
-^5.1
0
3.5
0
-7.9
-47.4 -19.7
.1
-1.2
-.5
0
-1.3
-.6
SURVEY OF CURRENT BUSINESS
November 1998
Motor Vehicles, Model Year 1998
By Ralph W. Morris
OALES OF new motor vehicles in the United
O States totaled 15.7 million units in model year
1998 (chart i).1 This level of sales was the highest
in the current economic expansion, which began in 1991. Sales increased 2.2 percent in model
i. The data on unit sales, inventories, and production in this article
are mainly from Wanfs Automotive Reports and the American Automobile
Manufacturers Association, Inc., and the data on prices are mainly from the
Bureau of Economic Analysis (BEA). These data underlie the estimates of
auto and truck output in the national income and product accounts. The
quarterly data for domestic and imported cars and light trucks are seasonally
adjusted by BEA using seasonal factors from the Federal Reserve Board.
For this article, the model year is defined as beginning on October i
and ending on the following September 30. Thus, model year 1998 covers
the fourth calendar quarter of 1997 and the first, second, and third calendar
quarters of 1998. All years mentioned in this article are model years unless
otherwise stated.
year 1998 after decreasing 0.5 percent in model
year 1997. Sales of domestic trucks and sales of
both imported cars and trucks increased; sales of
domestic cars decreased (table i).2
The share of total sales of new motor vehicles
that is accounted for by trucks increased to 48.7
percent in 1998 from 46.2 percent in 1997. This
share has increased every year since 1991, when
2. Sales of domestic vehicles consist of the sales in the United States
of domestic-nameplate vehicles and "transplant" vehicles manufactured
in North America—that is, in Canada, the United States, and Mexico.
Domestic-nameplate vehicles are manufactured at factories owned by U.S.
companies, and transplant vehicles are manufactured at factories owned
by foreign companies.
Sales of imported vehicles consist of vehicles
manufactured outside North America and sold in the United States.
New Motor Vehicle Sales
Million units
20
Million units
20
" ni 111 iv i ii w iv i n 111 iv i ii HI iv i n in iv i ii 111 iv i ii 111 iv i ii 111 iv i ii yi iv i ii ui iv i»111 iv i ii in iv i a 111 iv i « i n iv i ii 111 iv i n »i iv 11111 iv 11 in iv i u HI iv i inn iv
1979
80
81
8 2 8 3 8 4 8 5 8 6 8 7 8 8 8 9 9 0
Seasonally Adjusted at Annual Rates
91
9 2 9 3 9 4 9 5
96
Note.— Peak (P) Mfcates ttw end of bushes* cycle expansion and the beginning of recession (shaded area). Trough fH Indicates Bie end <rf business cycle reeesskw and Ito
expansion. Business cycle peaks and troughs designated by the National Bureau ot Economic Research, Inc.
Data: Amerkw AiJtor»b«e Manufacture AsaoctaBon, Inc. and WwrtArtomotta Reports, wasonaHy adjusted by BEA.
U.S. Department of Commerce, Bureau ot Economic Analysis
97
98
SURVEY OF CURRENT BUSINESS
truck sales accounted for 34.4 percent of total
sales.
The relative strength of truck sales reflects the
continuation of a trend in which truck purchases
have been substituted for car purchases. Most
of these purchases are of light truck models—
such as sport-utility vehicles, pickup trucks, and
vans—that include the additional equipment and
refinements usually found in cars but that also
retain many of the functional aspects of trucks,
such as greater passenger, load-carrying, and towing capacity and four-wheel drive capability. The
composition of truck sales has continued to shift
toward upscale models that offer more power,
luxury, and options than the basic models. In
recent years, gasoline prices have remained relatively low and thus have not constrained the sales
of trucks, most of which are fuel inefficient.
The high level of motor vehicle sales in 1998
reflected favorable developments in many of the
factors that are usually considered in analyses
of consumer spending. The unemployment rate
decreased for the sixth consecutive year and
dropped below 5 percent for the first time in
more than 20 years. Real disposable personal
income increased 3.0 percent. The Index of
Consumer Sentiment (prepared by the University
of Michigan's Survey Research Center) increased
to its highest level in more than 30 years. In
addition, consumer spending may have been
November
stimulated in recent years by the considerable additions to consumer wealth that resulted from
rising stock market prices.
Several factors that are specific to the motor
vehicle industry also helped boost sales. Manufacturers offered sales-incentive programs to
consumers throughout the year. Many of these
programs, particularly those offered beginning
in the spring, were more attractive than those
offered in 1997. In addition, several programs
were expanded to cover a broader selection of car
and truck models. Manufacturers' incentives included rebates and below-market-rate financing.
For selected models, manufacturers improved incentives by offering consumers both a rebate
and low-interest financing on the same purchase.
Other incentives included discounts on optional
equipment, such as air conditioning, automatic
transmissions, and power windows and door
locks.
The consumer price index (CPI) for new cars
decreased 1.1 percent in 1998, the first decrease
in 25 years, after increasing 1.1 percent in 1997;
the CPI for new trucks decreased 0.3 percent after
increasing 2.7 percent.3 The decreases in both
3. The data are from the fixed-weighted indexes that presently constitute the official consumer price index (CPI), which is prepared by the Bureau
of Labor Statistics (BLS). BLS also publishes geometric-mean-type CPI'S as
experimental series and plans to incorporate these indexes into the official CPI when the data for January 1999 are released. BEA currently uses
the geometric-mean-type CPI'S to deflate many of the detailed categories of
Table 1.—Selected Motor Vehicle Indicators
Model year1
Seasonally adjusted at annual rates
1997
1991
1992
1993
1994
1995
1996
1997
1998
1998
III
IV
I
II
III
Thousands of units
New motor vshiclo sales
12,756
12,868
13,913
15,179
15,231
15,458
15,380
15,719
15,618
15,441
15,587
16,578
15,099
New-car sales
Domestic
U S nameplates
Transplants
Import
8,373
6,276
5,137
1,140
2,097
8,160
6,195
5,048
1,146
1,966
8,428
6,595
5,348
1,247
1,833
8,936
7,173
5,707
1,466
1,763
8,736
7,167
5,518
1,649
1,570
8,654
7,361
5,428
1,933
1,293
8,259
6,924
4,964
1,960
1,335
8,071
6,704
4,665
2,039
1,367
8,323
6,928
8,001
6,627
8,027
6,646
8,440
7,065
7,716
6,378
1,396
1,374
1,381
1,375
1,338
New-truck sales
Light
Domestic
Import
Other
4,384
4,131
3,582
549
253
4,707
4,446
4,026
421
261
5,486
5,167
4,789
378
320
6,243
5,868
5,499
369
375
6,495
6,068
5,666
402
427
6,804
6,387
5,976
411
417
7,118
6,704
6,155
550
414
7,648
7,155
6,549
606
493
7,294
6,864
6,271
593
431
7,440
6,983
6,435
548
457
7,560
7,089
6,504
585
471
8,138
7,644
7,026
618
494
7,383
6,841
6,170
671
542
5,454
5,643
5,827
6,548
6,466
6,194
5,879
5,570
6,088
5,859
5,616
5,059
5,748
1,320
1,342
1,354
1,097
1,207
2.29
2.43
2.45
1.86
2.27
20,578
18,789
29,455
20,535
18,490
30,396
20,928
18,767
31,326
20,855
18,652
32,171
Domestic-car production
Domestic-car inventories2
Domestic-car inventory-sales ratio 3
Dollars
Average expenditure per new car4
Domestic
Import
15,892
15,499
17,067
16,893
16,281
18,861
17,526
16,595
20,998
18,431
17,406
22,598
1. A model year begins on October 1 and ends on September 30. Thus, it covers the fourth
quarter of one calendar year and the first three quarters of the next calendar year. Model year
1998, for example, encompasses the fourth quarter of 1997 and the first, second, and third quarters of 1998.
2. End of quarter, not at annual rate.
3. Ratio of end-of-quarter inventories to average monthly sales for the quarter.
18,751
17,591
24,038
19,275
17,943
26,852
20,273
18,520
29,412
20,787
18,632
31,313
20,828
18,618
31,359
4. BEA estimate, using average base price and adjustments for options, transportation charges,
taxes, discounts, and rebates for each model, weighted by that model's share of sales; not at
annual rate.
Source: American Automobile Manufacturers Association, Inc., and Ward's Automotive Reports;
data are seasonally adjusted by BEA.
SURVEY OF CURRENT BUSINESS
8 • November 1998
car and truck prices were partly a result of the
extensive sales-incentive programs.
Finance terms on new-vehicle loans remained
favorable in 1998. Interest rates on new-car loans
decreased for the third consecutive year: Rates
for new-car loans made by motor vehicle finance
companies averaged 6.3 percent in 1998, down
from 7.9 percent in 1997, and rates for loans made
by commercial banks averaged 8.8 percent, down
from 9.0 percent (chart 2). The sharper drop
personal consumption expenditures, including new autos and trucks. In addition, effective with the release of the January 1999 data, the CPI will no
longer make quality adjustments for changes in vehicles that are made in
response to air-pollution mandates.
CHART 2
Finance Terms on 48-Month
New Car Installment Loans
INTEREST RATES
10
- Commercial Banks
Auto Finance Companies -
in the finance companies' rates partly reflected
the effect of the below-market rates offered by
manufacturers' sales-incentive programs through
their financial subsidiaries.
However, new-vehicle sales may have been constrained by developments in the used-vehicle
sales market. A growing number of 2- and 3-yearold vehicles that had been leased as new vehicles
became available for sale as leasing arrangements expired; this growth reflects the sharp
increase in new-vehicle leasing in previous years.
These used vehicles provide a particularly attractive alternative to new cars because they tend
to have low mileage, to be well equipped with
options, and to be well maintained. The CPI
for used cars and trucks decreased 4.1 percent
in 1998.
Motor vehicle sales may also have been dampened by a tendency for owners to keep their
cars and trucks for longer periods; according to
estimates by R.L. Polk and Company, the average age of cars on the road reached 8.7 years
in calendar year 1997, compared with 7.9 years
in 1991 (data for 1998 are not yet available).
The average age of trucks on the road has increased less dramatically, 8.3 years in calendar
year 1997, compared with 8.1 years in 1991. The
smaller increase in the average age of trucks may
reflect the shift to new-truck purchases from
new-car purchases.
4 I i i i I i i i I i i i I i i i I i i i I i i i
AVERAGE LENGTH TO MATURITY
New Cars
54
52
50
Percent
95
LOAN-TO-VALUE RATIO
93
91
Auto Finance Companies-
87
85
1993
1994
1995
1996
1997
1998
1 • Most common htonntfatst (annual psfcanlajB rate) at reputing institutions.
US, Department of Commie*, Bumu of Economic Analyds
Sales of new cars decreased 2.3 percent to 8.1 million units in 1998 after decreasing 4.6 percent in
1997- The 1998 decrease was more than accounted
for by the decrease in sales of domestic cars;
a decrease in the sales of domestic-nameplate
cars more than offset an increase in the sales
of "transplant" cars. Sales of imported cars
increased.
Sales of domestic cars decreased 3.2 percent to
6.7 million units, the lowest level since 1993. Sales
of domestic-nameplate cars decreased 6.0 percent
after decreasing 8.5 percent. Sales of transplant
cars increased 4.0 percent after increasing 1.4
percent.
Sales of imported cars increased 2.4 percent
to 1.4 million units. Sales of cars imported
from Europe more than accounted for the increase. Despite a strengthening of the U.S.
dollar against the Japanese yen, sales of cars
imported from Japan continued to decrease,
as Japanese firms transfer production of some
SURVEY OF CURRENT BUSINESS
models from overseas plants to plants in North
America.
The market share (the percent of total new-car
sales) of sales of domestic-nameplate cars decreased to 57.8 percent in 1998 from 60.1 percent
in 1997 (chart 3). The share of transplant-car
sales increased to 25.3 percent from 23.7 percent,
and the share of imported-car sales increased to
16.9 percent from 16.2 percent.
Sales of small cars decreased to 2.1 million
units, and their market share decreased to 25.6
percent from 27.1 percent. Sales of middle-sized
cars increased to 4.1 million, and their market
share increased to 50.8 percent from 48.2 percent.
Sales of large cars decreased to 0.6 million, and
their market share decreased to 8.0 percent from
10.0 percent. Sales of luxury cars increased to 1.3
million, and their market share increased to 15.6
percent from 14.6 percent (chart 4).
November 1998
The average expenditure per new car increased
2.5 percent to $20,787 in I9p8.4 The increase
partly reflected the shift in the market toward
imported cars, which have a larger average expenditure than domestic cars. For imported
cars, the average expenditure increased 6.5 percent to $31,313; the increase was partly attributable
to a shift in the composition of imported-car
sales from small cars to middle-sized cars and
luxury cars. For domestic cars, the average expenditure increased o.i percent to $18,632; the
increase partly reflected increased sales of models equipped with optional equipment, such as
air conditioning, antilock brakes, and power
windows and door locks.
Domestic-car production—that is, cars manufactured in the United States—declined to 5.6
million units in 1998, the lowest level in 7 years.
This low level at least partly reflected strikes by
workers at the plants of a major motor vehicle
CHART 3
Share of New Cars by Source
Percent
80
Transplants
• Domestic Nameplates
Imports
4. Using data mainly from the Automotive Invoice Service and BLS, BEA
derives the average expenditure per new car by using average base price and
adjustments for options, transportation charges, taxes, discounts, and rebates
for each model, weighted by that model's share of sales. Movements in the
average expenditure differ from movements in the new-car component of the
CPI for at least two reasons: First, the average expenditure, unlike the CPI
(which is a fixed-weighted price index), reflects changes in the mix of models
and options sold and includes cars sold to businesses and to governments
as well as cars sold to consumers; and second, because the CPI, unlike the
average expenditure, is adjusted to remove the influence of quality change on
prices.
The upcoming change in the CPI for the treatment of pollutionabatement devices will reduce the difference between these two measures (see
footnote 3).
CHART 4
Share of New Car Sales by Size Class
40
Model Year 1998
Percent
20
1
1993
1994
,, .
1995
1996
1997
1998
Model Years
1. Domestic nameplates we can manufactured In North America at
tadonBJS ownod by JwiwUki cooipa/ws.
2.Transptenls are can manufactured in North America at factories
owned by foreign companies.
Date Motor Vehicle Manufacturers Association, Inc.
and Ward's Automotw Reports, seasonal? adjusted by BEA.
Note-Based on data tor Octobwl, 1997 through September 30,1998.
Data: Wants ManoHa Reports
U.S. Department of Commerce, Bureau of Economic Analysis
U.S. Department of Commerce, Bureau of Economic Analysis
SURVEY OF CURRENT BUSINESS
1O • November 1998
manufacturer; the strikes began in early June and
ended in late July.
Domestic-car inventories were 1.2 million units
at the end of model year 1998, slightly lower than
at the end of 1997. The inventory-sales ratio was
2.3 at the end of 1998; the traditional industry
target is 2.4.
By quarter, new-car sales decreased in the first
quarter of the model year and changed little in
the second quarter. In the third quarter, new-car
sales increased sharply as a result of very attractive manufacturers' incentives, and in the fourth
quarter, they decreased sharply (chart 5).
New Trucks
Sales of new trucks increased 7.4 percent to a
record 7.6 million units in 1998 after increasing 4.6 percent in 1997. Sales of light domestic
trucks, light imported trucks, and "other" trucks
all increased.5
Sales of light trucks increased 6.7 percent in
1998 after increasing 5.0 percent in 1997. The
5. Light trucks have a gross vehicle weight of up to 10,000 pounds; these
trucks include light conventional pickups, compact pickups, sport-utility vehicles, and passenger vans. "Other" trucks have a gross vehicle weight of over
10,000 pounds; these trucks range from medium-duty general delivery trucks
to heavy-duty diesel tractor-trailers.
strength in sales of pickup trucks and sportutility vehicles—especially luxury sport-utility
models—continued in 1998. Sales of vans
contributed slightly to the increase.
Sales of light domestic trucks increased 6.4 percent to 6.5 million units in 1998 after increasing
3.0 percent to 6.2 million units in 1997. Sales of
domestic-nameplate trucks increased 5.5 percent
to 6.0 million units after increasing 2.7 percent
to 5.7 million units, and their share of total lighttruck sales decreased to 83.6 percent. Sales of
transplant trucks increased 16.4 percent to 0.6
million units, and their market share increased
to 7.9 percent.
Sales of light imported trucks increased 10.2
percent to 0.6 million units, and their market
share increased to 8.5 percent of light trucks.
Sales of imported sport-utility vehicles increased
substantially; in recent years, sales of these vehicles may have been boosted by the introduction
of several new models into the small-vehicle segment of the U.S. market. Sales of imported
pickups decreased, largely reflecting shifts in production by foreign manufacturers from plants
overseas to plants in North America.
Sales of "other" trucks increased 19.1 percent to
0.5 million units. Nearly all of these trucks are
purchased by businesses, and domestic models
CHART 5
CHART 6
Retail Sales of New Cars
Millions Units
Retail Sales of New Trucks
12
Millions Units
10
Alight Domestic
Import
, Ught Imports
i i i I i
1993
i I i i i I i i i
I
I
1994
1995
1996
1997 1998
Seasonally Adjusted at Annual Rates
Seasonal? Adjusted at Annual Rates
Data: American Automobile Manufacture™ AwocWon, Inc.
and Htaft Automate flapcrts, ttnonaly aftuM by BEA.
Note-fleW sal* of domestic trucks am drafted by gross wNde
migN as lohi (up to 10,000 pounds) and 'other1 (ow 10,000 pounds).
Imported trucks Include Imports by US, manufactures.
Data: American AutomoMe Manufacturers Association, Inc.
and MbnftAAxmtto fleports, seasonally adjusted by BEA.
U.S. Department of Comnwce, Bureau of Economic Analysis
U.S. Department of Commerce, Bureau of Economic Andy*
1993
1994
1995
1996 1997
1998
SURVEY OF CURRENT BUSINESS
accounted for almost 95 percent of total sales.
One factor contributing to the high level of
demand for heavy trucks in recent years has
been the growth in spending on durable goods;
these trucks are used extensively to transport
goods—such as computers, machine tools, motor
vehicles, and appliances—and the parts for'these
goods.
By quarter, new-truck sales increased in the
first and second quarters of the model year,
jumped in the third quarter, and then fell in the
fourth quarter (chart 6). kjjjjj
November 1998 • 11
Now available!
Updated data on the structure of the U.S. Economy
BENCHMARK INPUT-OUTPUT ACCOUNTS
OF THE UNITED STATES, 1992
Presents the detailed 1992 benchmark input-output accounts, including estimates for 97
industry groups and for 498 industries.
Trace the flows of industry production
• The production, or make, of goods and
services, or commodities, by industry
• The consumption, or use, of commodities by
industry and by the final consumer
Estimate the effects of demand on industries and
commodities
• The output of each industry or commodity that
is directly and indirectly required to deliver a
dollar of a commodity to final users
Get a microperspective of the national income and
product accounts
• The commodity composition of gross domestic
product
• The commodity composition of personal
consumption expenditures by type
• The commodity composition of the private
purchases of producers' durable equipment by
type
• The industry distribution of value added
MARK INPUT-OUTPUT ACCOUNTS
UNITED STATES, 1992
m&ummosvf •
This publication also includes
• The concepts underlying the accounts
• The methods used to prepare the accounts
• The input-output industry classification system used in the accounts
To order this publication for $40 (stock number 003-010-00275-1), call the
Superintendent of Documents of the U.S. Government Printing Office at 202-512-1800,
fax your order to 202-512-2250, send Email to orders@gpo.gov, or go to
<wvvrw.access.gpo.gov/su_docs/sale/prf/prf.html>.
SURVEY OF CURRENT BUSINESS
November 1998
Comparison of BEA Estimates of Personal Income
and IRS Estimates of Adjusted Gross Income
• New Estimates for 1996
• Revised Estimates for 1982-95
By Thae S. Park
HIS ARTICLE presents a comparison of the
and investment. It includes income that is genBureau of Economic Analysis (BEA) measerally taxed—such as wages and salaries, income
ure of personal income and the Internal Revenue
from rent, self-employment earnings, dividends,
Service (IRS) measure of adjusted gross income interest, and government employee retirement
(AGI) of individuals by type of income. The
benefits—and income that is partly taxed, such
as social security benefits. It also includes sevarticle explains the major definitional and statistical differences between the BEA and the IRS
eral types of income that are not taxed, such
as tax-exempt interest and nontaxable transfer
measures, describes the various uses of the two
measures, and presents a partial reconciliation of
payments, including medicare, medicaid, and
the two measures that is prepared by convertwelfare benefits. Personal income includes ining BEA'S measure of personal income by type
come whether or not it is properly reported to
of income to the same definitional basis as the
IRS. In order to provide a comprehensive measIRS measure. It also discusses the sources of the
ure of personal saving, personal income also
"AGI gap"—the unexplained difference remainincludes other types of income, such as employer
ing between a BEA estimate of AGI and the IRS
contributions to employee pension plans, the inAGI, the trends in the AGI gap for 1947-96, and
vestment income of these plans, and imputed
the sources of the revision to the AGI gap for
income related to home ownership and to im1982-95.1
puted financial service charges. Personal income
excludes net gains from sale of assets, private
BEA'S measure of personal income and the IRS
pension benefits, and personal contributions for
measure of AGI are two widely used measures of
social insurance.
household income. In general, personal income,
AGI, on the other hand, is an income concept
which is prepared as an integral part of the nadefined by tax law, so AGI consists only of taxable
tional income and product accounts (NIPA'S), is
sources of income net of special adjustments as
the more comprehensive measure. Personal inreported on Form 1040. Therefore, it excludes
come is a measure of the current incomes earned
many
of the types of income that are included in
by households and by nonprofit institutions servthe BEA measure.
ing individuals, and thus, it is often used in
Although the two series are based on differassessing trends in consumer spending, saving,
ent concepts and serve different purposes, they
i. Annual and quarterly estimates of BEA personal income are published
are often used in conjunction with one another.
monthly in table 2.1 of the national income and product accounts (NIPA'S) in
In
particular, personal income, which is available
the section "BEA Current and Historical Data" of the SURVEY OF CURRENT
BUSINESS (monthly estimates are shown in table B.i). Estimates of IRS AGI are
much sooner than AGI, is frequently used as an
published annually in Statistics of Income—Individual Income Tax Returns.
extrapolator for AGI, and this article provides inThe estimates of the relationship between total personal income and total AGI
are presented annually in NIPA table 8.26, most recently for 1982-94 on page
formation that enables users to adjust the BEA
146 of the August 1998 SURVEY and for 1995-96 on page 13 of the September
measure to bring it closer in definition to AGI. In
1998 SURVEY. The estimates for 1947-81, which are not revised, are published
in U.S. Department of Commerce, Bureau of Economic Analysis, National
addition, the AGI gap is used as a rough indicaIncome and Product Accounts of the United States for 1929-94: Volume 2
tor of the noncompliance by individuals with the
(Washington, DC: U.S. Government Printing Office, 1998): 354-355. All estimates are available through the Commerce Department's STAT-USA Economic
Federal tax code.
Bulletin Board and Internet services; for information, call 202-482-1986, or
The new and revised estimates in this article reaccess the STAT-USA Internet site at <www.stat-usa.gov>. The reconciliation
by type of income for 1947-94 is also available in printed form on request; for
flect
the incorporation of the results of this year's
information, write to the Government Division (BE-57), Bureau of Economic
Analysis, U.S. Department of Commerce, Washington, DC 20230.
annual revision of the NIPA'S, which included a
T
SURVEY OF CURRENT BUSINESS
14 • November 1998
redefinition of dividend payments in personal income, and updated estimates of AGI from the
Statistics of Income Bulletin? As a result of the redefinition, capital gains dividends is no longer a
reconciliation item in tables i and 2, which show
the reconciliation between personal income and
AGI.
2. As part of the 1998 annual revision, dividend payments were revised
back to 1982 to exclude distributions that reflect capital gains income. In practice, the redefinition meant that the capital gains distributions of regulated
investment companies—that is, mutual funds- were excluded from personal
dividend income. The estimates of personal income were also revised back
to 1995 to reflect the usual annual NIPA revisions. For more information,
see Eugene P. Seskin, "Annual Revision of the National Income and Product
Accounts," SURVEY 78 (August 1998): 7-32. For AGI data, see Internal Revenue Service, Statistics of Income Bulletin (Washington, DC: U.S. Government
Printing Office, Summer 1998).
BEA Estimates of AGI
The preparation of BEA estimates of AGI, "BEAderived AGI," begins with NIPA personal income.
Personal income consists of the income received
by persons from all sources—that is, from participation in current production, from both government and business transfer payments, and from
government interest (which is treated like a transfer payment).3 It is calculated as the sum of wage
and salary disbursements, other labor income,
proprietors' income with inventory valuation and
capital consumption adjustments, rental income
of persons with capital consumption adjustment,
3. "Persons" consists of individuals, nonprofit institutions that primarily
serve individuals, private noninsured welfare funds, and private trust funds.
Table 1.—Comparison of Personal Income with AGI, by Type of Income, 1995
[Billions of dollars]
Wage
and
Personal
salary
income disbursements
Line
1 Personal income
2
Less: Portion of personal income not included in adjusted
aross income ..
.
3
Transfer payments except taxable military
retirement, taxable government pensions, taxable
social security benefits, and unemployment
compensation benefits
Other labor income except fees
Imputed income in personal income4
Investment income of life insurance carriers and
private noninsured pension plans5
Investment income received by nonprofit institutions
or retained by fiduciaries
Differences in accounting treatment between NIPA's
and tax regulations net
Other personal income exempt or excluded from
adjusted gross income
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Plus: Portion of adjusted gross income not included in
personal income
Personal contributions for social insurance
Gains net of losses from sale of property
Taxable private pensions7
Small business corporation income
Other types of income
Plus: Inter component reallocation
Fees in other labor income
Fiduciaries' share of partnership income 8
Interest received by nonfarm proprietors
Interest distributed by regulated investment
companies
Taxable disability income payments
Rental
Income
income Personal Personal Taxable
Taxable
not
Taxable
Other
pensions
of
social personal included
unemployment security
interest
and
persons dividend
in
3
income income annuities 1 compensation benefits2 income
with
personal
Nonfarm CCAdj
income
Proprietors'
income with IVA
and CCAdj
Farm
6,072.8
3,428.5
22.4
465.6
133.7
192.8
704.9
122.2
21.9
54.5
925.4
0
2,022.9
81.2
-7.7
4.1
86.2
111.8
492.1
0
0
0
1,214.1
41.1
817.3
396.4
240.3
0
0
10.4
0
0
.4
0
0
5.6
0
0
64.8
0
0
0
0
0
159.1
0
0
0
0
0
0
0
0
0
817.3
396.4
0
0
0
0
227.7
0
0
0
0
0
227.7
0
0
0
0
0
53.1
0
0
51.2
0
-8.1
.3
5.3
17.9
29.0
0
0
0
-1.9
16.1
14.1
31.0
0
0
0
79.8
45.4
0
0
0
0
.4
0
0
0
6
237.1
70.8
0
0
0
739.4
9.8
0
2.0
2.8
0
0
169.0
0
0
293.6
262.2
293.6
167.4
169.0
79.2
30.3
0
0
0
0
9.8
0
0
0
0
0
0
0
0
0
2.0
0
0
0
0
2.8
0
0
0
0
0
0
0
0
0
0
0
0
169.0
0
0
0
0
0
0
0
0
0
0
0
0
293.6
0
0
0
0
0
167.4
0
79.2
15.7
41.1
0
11.7
0
-.4
0
74.5
-74.5
-6.4
0
0
-4.8
0
0
0
0
5.3
0
0
0
0
0
0
-.4
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-5.3
.4
0
0
0
0
0
0
0
6.4
0
0
0
0
0
0
74.5
0
-74.5
0
0
-6.4
0
0
0
0
0
0
0
0
Equdls: BEA-derived adjusted gross income
4,788.5
3,368.8
30.2
463.1
50.3
155.6
138.2
284.8
21.9
54.5
0
221.1
23 Adjusted gross income of IRS (as reported)
4,189.4
3,201.5
-7.9
169.3
17.2
94.6
154.8
221.1
19.3
45.7
52.7
221.1
.3
47.8
4.6
0
0
0
0
0
-52.7
0
0
.3
0
1.5
46.3
0
4.6
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-6.1
-46.6
0
0
0
0
22
24
25
26
27
Plus: Intercomponent reallocation
Estate or trust income
Partnership income
Other reallocations
28 Adjusted gross income of IRS (reallocated)
29 Adjusted gross income gap
30
31
Percent distribution of AGI gap
Relative AGI qap 9
.
32 Addendum: Misreporting adjustments included in personal
income
See the footnotes at the end of table 2.
0
0
0
0
0
0
0
0
4,189.4
3,201.5
-7.6
217.1
21.8
94.6
154.8
221.1
19.3
45.7
0
221.1
599.1
167.4
37.7
246.0
28.5
61.0
-16.6
63.7
2.6
8.8
0
0
100.0
12.5
27.9
5.0
6.3
125.1
41.1
53.1
4.8
56.7
10.2
39.2
-2.8
-12.0
10.6
22.4
.4
11.7
1.5
16.2
284.3
78.9
213.7
1.0
-9.3
SURVEY OF CURRENT BUSINESS
personal dividend income, personal interest income, and transfer payments to persons, less
personal contributions for social insurance.
The IRS measure of AGI is defined as the sum
of all the items of "gross income" less a set of
specific adjustments to gross income that are authorized by legislation. Gross income includes all
income that is received in the form of money,
property, and services and that is not expressly
exempt from taxation; it excludes, for example,
interest on tax-exempt State and local govern-
November 1998 • 15
ment bonds, voluntary contributions to thrift
savings plans, and nontaxable social security benefits. The specific adjustments to gross income
include subtractions for contributions to individual retirement accounts, for alimony paid, for
moving expenses, and for several items related to
self-employment income.
NIPA personal income is converted to AGI by
first deducting those items that are included in
personal income but not in AGI. These items include nontaxable transfer payments, other labor
Table 2.—Comparison of Personal Income with AGI, by Type of Income, 1996
[Billions of dollars]
Wage
and
Personal
salary
income disbursements
Line
1 Personal income
...
2 /.ess: Portion of personal income not included in adjusted
gross income
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Transfer payments except taxable military
retirement, taxable government pensions, taxable
social security benefits, and unemployment
compensation benefits
Other labor income except fees
Imputed income in personal income4
investment income of life insurance carriers and
private noninsured pension plans5
Investment income received by nonprofit institutions
or retained by fiduciaries
Differences in accounting treatment between NIPA's
and tax regulations, net
Other personal income exempt or excluded from
adjusted gross income
Plus: Portion of adjusted gross income not included in
personal income
Personal contributions for social insurance
Gains, net of losses, from7 sale of property
Taxable private pensions
Small business corporation income .
Other types of income
...
Plus: Intercomponent reallocation
Fees in other labor income
Fiduciaries' share of partnership income 8 . . .
Interest received by nonfarm proprietors
Interest distributed by regulated investment
companies
Taxable disability income payments
Proprietors'
income with IVA
and CCAdj
Farm
Rental
Income
income Persona Persona Taxable
Taxable
not
Taxable
Other
pensions unemploymen
social persona included
of
dividend interest
and
security
in
3
income income annuities ' compensation benefits2 income
with
personal
Nonfarm CCAdj
income
6,425.2
3,631.1
38.9
488.8
150.2
248.2
719.4
128.8
22.4
60.4
2,092.8
87.2
8.5
-23.3
96.8
136.2
506.5
0
0
856.3
381.5
260.1
0
0
10.8
0
0
.4
0
0
6.2
0
0
75.2
0
0
0
0
0
167.5
0
0
0
230.0
0
0
0
0
0
230.0
0
n
936.9
0
0
1,238.3
42.6
0
0
0
0
0
0
856.3
381.5
0
0
0
0
0
0
0
0
17.7
26.7
0
0
0
15.0
36.8
0
0
0
0
103.5
45.4
0
0
0
0
0
0
184.6
0
0
306.3
365.0
0
0
0
0
0
0
0
0
0
0
0
0
184.6
0
0
0
0
0
0
0
0
0
0
0
0
306.3
0
0
0
0
0
249.5
0
0
81.6
-81.6
-6.7
0
0
-4.9
0
0
-.6
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-5.5
0
0
0
0
0
0
0
0
0
0
81.6
0
-81.6
0
0
-6.7
0
0
0
0
0
0
0
0
51.3
0
0
45.8
0
8.1
267.9
76.4
873.1
12.0
0
2.5
2.8
306.3
249.5
184.6
89.3
43.4
0
0
0
0
12.0
0
0
0
0
0
0
0
0
0
2.5
0
0
0
0
2.8
0
12.2
0
-.6
0
0
0
5.5
0
0
0
0
0
0
0
0
6.7
0
-29.8
0
6.0
15.7
0
0
.6
.6
0
6
42.6
89.3
26.1
22
Equals: BEA-derived adjusted gross income
5,205.6
3,568.1
30.4
514.0
56.2
193.7
131.3
306.7
22.4
60.4
0
322.3
23
Adjusted gross income of IRS (as reported)
4,536.0
3,376.9
-7.1
176.9
20.6
104.3
165.7
238.8
19.3
53.2
65.2
322.3
24
Plus: Intercomponent reallocation
25
26
27
Estate or trust income
Partnership income
Other realiocations
28
Adjusted gross income of IRS (reallocated)
29
Adjusted gross income gap
30
31
32
Percent distribution of AGI gap
Relative AGI qap9
....
Addendum: Misreporting adjustments included in personal
income
0
0
.3
59.2
5.6
0
0
0
0
0
-65.2
0
0
0
0
0
0
0
0
.3
0
2.1
57.2
0
5.6
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-7.7
-57.5
0
0
0
0
4,536.0
3,376.9
-6.8
236.1
26.2
104.3
165.7
238.8
19.3
53.2
0
322.3
669.6
191.2
37.2
277.9
30.0
89.4
-34.4
67.9
3.1
7.2
0
0
100.0
12.9
28.6
5.4
5.6
122.3
41.5
54.1
13.4
46.2
-5.1
-26.2
10.1
22.1
.5
13.8
1.1
12.0
299.5
84.0
1. Consists of the taxable portion of government employee pension payments included in personal income—nondisability military retirement pay and the taxable portion of Federal Government and of State and local government
employee pension payments.
2. Taxable social security benefits also include a small amount of taxable railroad retirement benefits.
3. Consists primarily of other labor income and the nontaxable portion of government and business transfer payments to persons, less personal contributions for social insurance.
4. Consists of the imputations included in personal income shown in NIPA table 8.19 (line 58), except for employer-paid health and life insurance premiums (line 115). In this table, these premiums are included in line 4.
5. Consists of imputed interest received by persons from life insurance carriers and private noninsured pension
plans as shown in NIPA table 8.18 (line 51).
224.4
4.5
53.3
1.0
-10.0
6. Statutory adjustments.
7. Consists of the taxable portion of private pension payments received by individuals.
8. Consists of partnership income retained by fiduciaries.
9. Adjusted gross income gap (line 30) as a percentage of the BEA-derived AGI (line 23).
AGI Adjusted gross income
BEA Bureau of Economic Analysis
CCAdj Capital consumption adjustment
IVA Inventory valuation adjustment
IRS Internal Revenue Service
NIPA National income and product accounts
SURVEY OF CURRENT BUSINESS
l6 • November 1998
income, imputations, and other sources of income excluded from the IRS definition of AGI;
they also include adjustments for differences between the accounting treatment used in the NIPA'S
and the treatment specified by Federal tax regulations (tables i and 2, lines 3-9). Next, those
items that are excluded from personal income but
that are included in AGI, such as net capital gains
and personal contributions for social insurance,
are added to personal income (lines 11-15). Finally, an adjustment is made to reallocate certain
income components to make the BEA-derived AGI
comparable with IRS AGI by type of income (lines
17-21 and 25-27) .4
The AGI Gap
The estimates of the BEA-derived AGI differ significantly from the IRS estimates of AGI. The
"AGI gap" is the difference between the total BEAderived AGI (line 22) and total IRS AGI (line 23),
and the AGI gap for each type of income (line 29)
is the difference between the BEA-derived AGI for
that type of income (line 22) and the reallocated
IRS AGI for that type of income (line 28). The
percent distribution of the AGI gap by type of income is shown in line 30, and the relative AGI gap
for each type of income, which is the AGI gap for
that type of income (line 29) as a percentage of
the BEA-derived AGI for that type of income (line
22), is shown in line 31.
The AGI gap results from several sources. First,
there are errors in the source data used to estimate those personal income components that
are not based on IRS AGI data, primarily because
of sampling and other statistical errors. (AGI
data are used only for the estimates of nonfarm
proprietors' income and royalty payments.) Second, there are errors in the reconciliation items
because reliable data are unavailable to estimate
some known items, such as income earned by individuals who are not required to file income tax
returns; because some of the source data used to
estimate known items contain errors; and because
some of the differences between the definition of
personal income and AGI are unknown. Third,
there are errors in the IRS measure of total AGI
and its components because the estimates are
based on a probability sample. Fourth, the estimates of BEA-derived AGI include both explicit
4. For a detailed description of the reconciliation items, see Thae S. Park,
"Relationship Between Personal Income and Adjusted Gross Income: New
Estimates for 1993-94 and Revisions for 1959-92," SURVEY 76 (May 1996):
80-84. However, this article's description of the method used to prepare estimates of the reconciliation items does not reflect the redefinition of dividends
payments (see footnote 2).
and implicit adjustments for tax return misreporting (noncompliance). Explicit adjustments
are made for the effects of tax return misreporting on the source data used to prepare the
estimates of wage and salary disbursements, nonfarm proprietors' income, royalty income, and
personal interest income (line 32).5 Implicit adjustments are also embedded in the source data
used for some components of personal income
because the source data are from the payers of
the income.6 The IRS estimates of AGI are based
on unaudited tax returns that are not adjusted
for misreporting. (However, the sample returns
are edited for consistent statistical definitions and
for incorrect or missing entries in order to make
them consistent with other entries on the returns
and with accompanying schedules.)
Overall, BEA believes that the explicit and implicit adjustments for misreporting account for a
major part of the AGI gap. In 1996, the explicit
adjustments accounted for $299.5 billion of the
$669.6 billion gap. Thus, the AGI gap can be considered a rough indicator of noncompliance with
the Federal tax code, and the relative AGI gap—
the AGI gap as a percentage of the BEA-derived
AGI—can be considered a rough indicator of the
noncompliance rate in the reporting of income
included in the IRS measure of AGI/
The AGI Gap by Type of Income
for 1947-96
Table 3 shows the estimates of the AGI gap for
total income and for each type of income for
1947-96, and table 4 shows the relative AGI gap
for total income and for each type of income for
1947-96. Over this period, the relative AGI gap
for total income declined from about 13 percent
in 1947 to about 9 percent in 1968, and then it increased to about 13 percent in 1993 and remained
at that level through 1996. The relative AGI gap
for wage and salary disbursements is the smallest
5. The major source data for these adjustments are the 1988 Taxpayer
Compliance Measurement Program and Census Bureau "exact-match" files
for 1990. For additional information about the calculation of these adjustments, see Robert P. Parker, "Improved Adjustments for Misreporting of Tax
Return Information Used To Estimate the National Income and Product Accounts, 1977," SURVEY 64 (June 1984): 17-25; "The Comprehensive Revision
of the U.S. National Income and Product Accounts: A Review of Revisions
and Major Statistical Changes," SURVEY 71 (December 1991): 39-40; and "Improved Estimates of the National Income and Product Accounts for 1959-95:
Results of the Comprehensive Revision," SURVEY 76 (January/February 1996):
24-25.
6. For detailed information about the principal source data and estimating methods used to prepare personal income and its components, see
"Updated Summary NIPA Methodologies," SURVEY 78 (September 1998): 14-35
and the text on the CD-ROM State Personal Income, 1929-97; this information
is also available on BEA'S Web site at <www.bea.doc.gov>.
7. The AGI gap does not include adjustments for the misreporting of
types of income excluded from personal income, such as net gains from the
sale of assets, income from small business corporations, and alimony.
SURVEY OF CURRENT BUSINESS
November 1998 • 17
For nonwage incomes subject to the requirements for filing information returns, the trend in
the combined relative AGI gap is generally downward (the first addenda item in table 4).9 This
trend is largely offset by a generally upward trend
among the types of income, primarily because income tax withholding at the source is required for
wage and salary disbursements. The relative AGI
gap for wage and salary disbursements declined
from about 3 percent in 1947 to about i percent
in 1982 and then increased to about 5 percent in
1996. The trends in the relative AGI gaps for nonwage incomes largely offset each other (see the
addenda in table 4).
9. The primary examples of these incomes are personal dividend income
and personal interest income. An AGI gap for personal dividend and personal
interest income combined is shown in the table because of the difficulty in
recent years of accurately deriving separate gaps for these incomes. The difficulty is related to the reconciliation item for distributions from regulated
investment companies, which are classified as interest in personal income.
Although the IRS instructs taxpayers to report these distributions as dividends
rather than as interest, some taxpayers may have inadvertently reported them
as interest. Because the amount of this misreporting is not known and because the entire amount of the distributions in personal income is reallocated
to personal dividend income in reconciliation (tables i and 2, line 20), the AGI
gap for personal dividend income is overstated, and the AGI gap for personal
interest income is understated.
8. Wage and salary disbursements accounts for 68.5 percent of the BEAderived AGI, whereas the AGI gap for wage and salary disbursements accounts
for 28.6 percent of total AGI gap for 1996. In contrast, nonwage incomes
subject to the requirements for filing information returns account for 13.7
percent of the BEA-derived-AGi and 19.9 percent of the total AGI gap. For
incomes not subject to the requirements for filing information returns, excluding capital gains and other types of income for which the AGI gaps are
not estimated, the respective percentages are 11.5 percent and 51.5 percent.
Table 3.—The BEA and IRS Measures of AGI and the AGI Gap by Type of Income, 1947-96
[Billions of dollars]
Proprietors' income
BEA-derived
AGI
Year
171.0
184.3
182.1
203.3
230.0
242.4
257.0
258.2
279.9
300.9
1947
1948
1949 . . ..
1950
1951
1952 .
1953
1954
1955
1956
IRS AGI
149.7
163,5
160.6
179.1
202.3
215.3
228.7
229.2
248.5
267.7
AGI gap
21.3
20.8
21.6
24.1
27.7
27.1
28.3
29.0
31.4
33.1
Wage and
salary
disbursements
Nonfarm
Farm
3.9
5.2
6.1
5.4
6.6
6.0
6.5
6.7
7.1
9.0
10.5
7.4
9.2
7.8
8.9
7.6
5.6
5.1
7.2
6.4
5.7
6.2
6.9
6.3
6.9
7.2
8.5
7.8
7.9
8.8
7.6
6.2
6.7
6.3
6.3
314.3
317.4
341.9
354.1
368.4
390.3
411.7
445.0
482.8
524.6
280.3
281.2
305.1
315.5
329.9
348.7
368.8
396.7
429.2
468.5
34.0
36.2
36.8
38.6
38.5
41.6
42.9
48.4
53.6
56.1
558.9
612.2
667.4
703.7
749.5
829.9
931.8
1,009,3
1,051.8
1,172.4
504.8
554.4
603.5
631.7
673.6
746.0
827.1
905.5
947.8
1,053.9
54.1
57.8
63.9
72.0
75.9
83.9
104.6
103.8
104.0
118.5
13.9
13.6
11.8
18.8
18.6
13.3
11.8
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1,300.6
1,473.1
1,662.0
1,832.1
2,021.8
2,099.4
2,234.8
2,488.5
2,651.7
2,878.9
1,158.5
1,302.4
1,465.4
1,613.7
1,772.6
1,852.1
1,942.6
2,139.9
2,306.0
2,481.7
142.1
170.7
196.6
218.4
249.2
247.3
292.2
348.6
345.8
397.3
19.7
25.0
20.0
20.8
21.4
16.4
24.6
29.5
44.5
59.3
10.2
14.1
17.3
19.2
23.4
18.3
27.7
31.7
28.4
31.9
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
3,156.5
3,430.7
3,666.5
3,821.5
3,864.1
4,101.7
4,254.6
4,488.5
4,788.5
5,205.6
2,773.8
3,083.0
3,256.4
3,405.4
3,464.5
3,629.1
3,723.3
3,907.5
4,189.4
4,536.0
382.7
347.6
410.2
416.0
399.6
472.6
531.3
581.0
599.1
669.6
80.6
84.1
112.6
119.0
106.2
133.3
146.6
158.8
167.4
191.2
36.1
38.5
35.2
1957
1958
1959
1960
1961
1962
1963
1964 ..
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
.
,
AGI Adjusted gross income
BEA Bureau of Economic Analysis
IRS Internal Revenue Service
-9.3
8.4
10.3
11.8
13.6
11.2
137
12.6
13.3
13.5
11.1
16.8
9.1
5.5
5.3
8.1
9.8
8.7
317
32.4
34.8
41.5
33.5
377
37.2
Rental
income of
persons
Personal dividend and personal interest
income
Total
Personal
interest
income
1.2
1.3
2.1
3.8
4.8
5.6
7.0
7.0
8.2
7.3
2.1
2.2
1.6
1.9
2.2
2.3
2.3
3.0
3.2
3.3
3.3
3.4
37
4.8
4.9
5.1
5.7
5.0
5.8
6.1
13
1.3
1.3
1.9
1.7
1.8
2.0
.8
.9
7
2.0
2.1
2.4
2.9
3.2
3.2
37
4.2
4.8
5.4
9.3
9.2
9.7
3.7
4.0
2.3
2.3
2.5
2.4
2.8
3.0
3.3
3.3
6.8
7.4
8.1
9.0
9.1
97
9.8
11.9
14.0
12.6
7
7
.9
1.3
1.4
1.5
1.6
2.4
2.9
1.0
6.2
6.7
7.2
7.6
77
8.2
8.2
9.5
3.9
3.2
3.6
4.0
4.0
4.2
4.1
3.2
2.8
2.4
13.0
14.4
15.9
18.4
18.9
19.9
24.1
25.4
21.1
25.3
1.0
1.4
1.3
17
2.1
2.7
4.1
2.9
1.3
4.0
4.3
4.6
6.3
9.6
34.4
38.8
49.5
55.5
67.1
60.0
64.1
66.1
45.5
64.2
6.4
7.6
9.8
10.1
11.4
11.8
12.6
14.1
14.4
15.9
16.5
16.9
187
20.4
23.6
28.7
32.2
38.1
42.1
53.5
61.2
73.4
84.5
89.1
90.5
95.2
1097
17.0
21.9
24.2
141.7
147.5
147.3
29.4
26.8
121.5
122.8
127.2
134.2
138.9
164.6
200.0
223.1
246.0
277.9
287
22.5
17.1
14.3
157
18.8
20.7
22.3
24.7
28.5
30.0
Taxable
Taxable
unemployment
compensation
Taxable
social
security
benefits
1.1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1.2
1.3
1.7
1.9
2.1
2.2
2.4
2.8
3.2
3.5
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
4.0
4.3
5.0
6.1
7.1
8.2
8.6
9.5
10.7
11.9
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
12.2
14.9
18.5
23.4
28.8
33.5
39.2
45.0
46.0
63.4
0
0
.4
.8
.9
2.0
2.6
1.3
1.4
1.2
0
0
0
0
0
0
0
4.6
3.2
3.1
52.6
40.0
52.2
51.6
47.2
54.2
54.6
52.5
2.6
2.0
2.5
2.9
3.9
8.3
7.3
3.8
2.6
3.1
2.8
2.8
3.0
3.0
3.2
4.5
6.1
8.0
8.8
7.2
npncJOnC
Personal
dividend
income
64.0
40.4
63.2
57.9
49.0
52.1
52.8
767
44.4
55.1
14.2
25.5
23.0
26.3
32.8
26.6
24.5
34.8
32.3
55.2
56.2
557
457
46.9
68.8
61.0
89.4
11.1
11.6
12.0
13.0
14.6
167
16.9
17.2
20.1
22.4
19.8
21.3
28.0
31.2
397
41.3
417
37.1
37.8
33.3
18.9
397
29,1
8.2
7.9
1.7
-67
6.3
5.9
7.9
-16.6
-34.4
and
annuities
r
.O
n
.2
3
£
C
!e
7
.9
637
67.9
SURVEY OF CURRENT BUSINESS
i-8 • November 1998
about 34 percent in 1947 to about 81 percent in
1984, decreased to about 50 percent in 1990, and
then increased to about 58 percent in 1996.
The relative AGI gap for total income for 1996
is slightly higher than that for 1995 largely due to
increases in the AGI gaps for wage and salary disbursements, nonfarm proprietors' income, and
personal dividend income.
in the combined relative AGI gap for incomes
not subject to the requirements for filing information returns (the second addenda item). The
combined relative AGI gap for nonwage incomes
subject to the filing requirements declined from
about 39 percent in 1947 to about 17 percent in
1988, increased to about 23 percent in 1994, and
then declined to about 19 percent in 1996,,10
The combined relative AGI gap for incomes not
subject to the filing requirements increased from
Sources of the Revision to the AGI Gap
Table 5 shows the revisions to BEA-derived AGI
and to the AGI gap for 1982-95. For 198294, the revisions reflect the incorporation of the
10. Beginning in 1984, taxes have been withheld on taxable pensions unless
the recipient elects not to have the tax withheld and on interest and dividends
if the recipient fails to furnish a correct taxpayer identification number or
has interest or dividends that were underreported on past returns.
Table 4.—The Relative AGI Gap by Type of Income, 1947-96
[Percent]
Year
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
74.0
68.1
69.8
68.6
68.9
66.0
60.9
64.7
62.3
60.4
10.8
11.4
10.8
10.9
10.5
10.7
10.4
10.9
11.1
10.7
10.1
3.1
3.9
3.1
3.4
2.8
3.2
2.7
3.1
3.3
3.5
2.6
2.9
2.5
2.4
2.3
1.8
2.4
1.2
1.7
1.5
10.9
11.6
11.8
11.9
12.3
11.8
13.1
14.0
13.0
13.8
12.1
10.1
11.2
10.9
10.3
11.5
12.5
12.9
12.5
12.9
2.0
2.2
1.6
1.5
1.4
1.0
1.5
1.6
2.3
2.8
3.6
3.5
4.4
4.4
3.8
4.5
4.8
5.0
5.0
5.4
9.9
1977
......
Farm
3.3
3.9
4.7
3.7
3.9
3.3
3.3
3.5
3.4
4.0
10.2
10.1
10.1
11.2
10.3
1976
Wage and
salary
disbursements
12.5
11.3
11.8
11.9
12.0
11.2
11.0
11.2
11.2
11.0
9.7
9.4
9.6
1972
1973
1974
1975
1978.
Total
Nonfarm
5.6
5.9
Rental
income of
persons
Total
10.1
15.5
18.1
20.5
24.5
24.0
25.4
21.7
44.7
41.0
31.2
33.0
35.8
36.0
35.1
46.3
48.9
47.9
37.9
35.1
35.0
38.1
38.5
39.6
42.1
34.6
35.6
34.8
59.2
53.9
69.2
66.4
59.1
61.5
67.8
66.4
63.4
60.1
58.5
58.4
65.7
74.0
76.4
70.8
68.3
74.7
73.8
72.3
26.2
26.3
25.7
27.1
29.0
28.4
29.4
30.3
29.2
30.1
29.8
28.5
30.5
32.9
35.3
38.5
39.7
43.2
45.5
48.5
51.3
53.4
39.7
38.9
41.6
39.2
43.3
45.2
48.1
47.5
51.6
45.2
48.7
51.5
50.1
47.6
41.5
32.8
30.9
25.6
35.4
37.3
37.0
38.0
37.0
35.3
32.1
35.1
36.5
31.7
30.9
31.0
30.9
32.7
31.9
31.0
32.2
29.6
24.4
25.7
90.0
74.8
85.5
49.1
51.6
54.7
57.4
62.6
64.7
64.5
68.2
66.4
64.8
51.9
45.2
44.3
43.9
44.6
46.0
50.4
51.5
53.1
54.1
39.5
38.5
48.4
59.4
75.0
86.1
97.7
29.7
29.8
31.5
28.3
27.4
22.3
24.1
22.7
16.1
21.9
21.3
13.3
17.3
15.9
14.6
17.8
20.0
26.9
15.1
16.9
106.9
148.4
215.8
150.9
182.4
180.3
132.0
101.8
100.9
96.7
96.6
104.8
103.4
107.2
126.1
125.1
122.3
113.1
121.5
149.4
122.3
90.3
78.2
69.2
69.7
61.7
56.9
55.1
56.7
53.3
1, Consists of personal dividend income, personal interest income, taxable pensions, taxable unemployment compensation, and taxable social security benefits. These types of income have been subject to varying degrees of
withholding since 1984.
2. Consists of farm proprietors' income, nonfarm proprietors' income, and rental income of persons.
Addenda
Personal dividend and interest
income
Proprietors' income
Taxable
pensions
and
annuities
Taxable
unemployment
compensation
Taxable
social
security
benefits
Incomes, except
wages and
salaries, subject
to filing
requirements l
Incomes not
subject to filing
requirements *
0
0
0
0
0
0
0
0
0
0
38.9
36.0
35.0
38.4
39.1
40.2
42.6
35.6
37.0
36.9
34.3
29.8
30.8
32.6
34.7
34.4
34.2
36.3
36.2
33.2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
37.1
38.9
39.1
40.1
39.3
37.2
34.3
36.9
38.1
33.7
33.2
32.9
33.1
34.9
34.4
33.7
33.8
31.1
27.0
27.6
35.7
35.2
35.6
35.6
35.7
35.4
37.5
37.3
36.7
36.8
35.8
33.7
37.5
41.1
42.1
44.7
46.5
48.8
48.6
49.8
0
0
0
0
0
0
0
0
0
29.6
30.2
31.9
30.0
29.4
25.7
27.5
26.8
21.6
27.1
24.0
16.6
20.2
18.7
16.9
19.8
20.9
23.0
18.2
18.7
51.5
53.2
57.6
62.3
71.5
74.8
75.8
80.7
78.4
76.5
62.6
54.2
51.7
50.3
51.4
51.8
55.6
55.8
57.4
57.5
Personal
dividend
income
Personal
interst
income
23.2
20.7
19.4
23.1
21.8
23.7
25.7
64.1
61.9
61.0
64.6
65.1
63.6
64.4
64.0
65.2
65.2
56.1
49.8
35.1
44.2
47.4
47.0
48.5
45.8
50.2
54.4
0
0
0
0
0
0
0
0
0
0
65.0
64.6
62.0
60.1
57.6
53.4
47.0
48.5
49.6
46.8
44.7
43.6
42.6
43.2
40.6
38.6
38.4
36.2
31.4
30.5
51.3
50.3
53.3
54.1
53.5
48.5
47.4
47.2
47.0
44.0
44.2
41.8
42.1
43.5
43.2
42.7
39.5
36.1
33.9
32.6
33.9
33.7
35.0
28.8
24.0
19.1
19.7
15.9
29.5
31.3
33.1
35.0
35.7
35.8
36.0
35.9
32.6
37.0
29.7
22.4
26.2
24.5
21.1
22.5
22.0
20.3
22.4
22.1
30.7
26.9
27.3
21.8
27.1
17.8
17.6
15.0
17.2
14.4
17.2
16.0
14.3
20.9
20.8
15.8
11.7
13.8
9.7
10.7
8.0
6.7
7.6
9.0
12.3
12.4
12.4
12.4
16.8
18.1
6.6
6.3
8.5
7.5
9.7
11.7
13.7
17.9
12.3
5.6
14.0
19.2
20.1
22.6
26.8
35.5
30.6
35.1
40.3
32.6
28.4
34.3
29.4
40.5
41.2
41.9
37.0
37.0
45.5
39.2
46.2
9.4
19.1
14.7
4.2
3.5
.7
-3.3
3.8
4.3
5.9
-12.0
-26.2
36.7
25.0
22.6
18.1
16.4
14.5
13.2
13.1
16.2
19.9
17.2
16.2
12.0
NOTE.—The relative AGI gap is the AGI gap as a percentage of the BEA-derived AGI and is shown in line
32 of tables 1 and 2.
AGI Adjusted gross income
BEA Bureau of Economic Analysis
SURVEY OF CURRENT BUSINESS
redefinition of dividend payments. For 1995, the
revisions reflect the annual revision to the NIPA'S,
including the redefinition of dividend payments.
In addition, for 1991-94, the revisions reflect the
incorporation into personal dividend income of
revised IRS tabulations of capital gains distributions from regulated investment companies,
which are used by BEA to prepare the estimates
of personal dividend income.
In general, revisions to the AGI gap result from
three sources: Revisions to personal income that
carry through to the AGI gap, revisions to the
reconciliation items that are unrelated to the revisions to personal income or to AGI, and revisions
to AGI that carry through to the AGI gap. For
1995, the AGI gap was revised down $31.2 billion,
reflecting a downward revision of $45.5 billion to
personal income that carried through to reduce
November 1998 •
19
the AGI gap and net revisions of $14.2 billion to
the reconciliation items that are unrelated to the
revisions to personal income (lines 7, 8, 13, 14,
and 15), which carried through to increase the
AGI gap.11 There was no revision to AGI for 1995.
In general, the incorporation of the results of
this year's annual NIPA revision did not change
the trend in the relative AGI gaps for 1982-95.
However, the level of the relative AGI gap for
nonwage incomes subject to the requirements
for filing information returns was revised down
about 3 to 4 percentage points for 1993,1994, and
1995. E2
11. Personal income was revised down $78.7 billion; $33.6 billion of this
downward revision was offset by revisions to reconciliation items directly
affected by the personal income revisions (lines 3-6, most of line 9, line 11,
and line 12), primarily by the redefinition of capital gains distributions from
regulated investment companies. Thus, the revisions to personal income that
carried through to reduce the AGI gap were $45.4 billion.
Table 5.—Sources of Revision to the AGI Gap for 1982-95
[Billions of dollars]
1
1 Personal income
2 Less: Portion of personal income not included in
adjusted gross income
3
4
5
6
7
8
9
10
11
12
13
14
15
Transfer payments except taxable military
retirement, taxable government
pensions, and taxable social security
benefits
Other labor income except fees
Imputed income in personal income
Investment income retained by life
insurance carriers and private
noninsured pension funds
. ..
Investment income received by nonprofit
institutions or retained by fiduciaries ....
Differences in accounting treatment
between NIPA's and tax regulations,
net
Other personal income exempt or
excluded from adjusted gross income
Plus: Portion of adjusted gross income not
included in personal income
Personal contributions for social
insurance
Gains, net of losses, from sales of
property
Taxable private pensions
Small business corporation income
Other types of income
.
1984
1986
1987
1988
1992
1993
1994
-4.0
-8.9
-18.8
-10.9
-5.8
-4.6
-8.0
-16.0
-21.6
-38.2
-33.8
0
0
0
0
0
0
0
0
0
0
0
o
o
o
0
0
0
o
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
o
o
0
0
0
0
0
25
0
0
o
0
0
0
0
0
0
-5.2
.1
0
o
o
o
o
o
o
o
o
0
o
o
o
1
0
0
0
0
0
0
0
0
0
0
0
0
0
-.9
o
o
o
o
o
o
o
o
o
o
o
o
o
-32
0
0
0
0
0
0
0
0
0
0
0
0
0
-1.7
3.1
6.4
4.0
8.9
18.8
10$
5.8
4.8
8.1
6.3
6.5
15.3
9.3
390
1985
1990
0
0
0
0
0
0
0
0
0
0
0
0
o
3.1
0
0
0
6.4
0
4.0
0
0
0
8.9
0
0
0
18.8
0
0
0
10,9
5.8
0
4.8
0
0
0
8.1
0
0
0
6.3
0
0
0
6.5
0
0
0
15.3
0
0
0
o
0
o
.2
-5.6
-15.0
-22.8
-24.6
0
0
0
-9.6
-15.0
-22.8
-.2
-.3
-.5
0
0
o
o
0
0
0
16
Equals: BEA-derived adjusted gross income
0
0
0
0
0
0
0
Adjusted gross income of IRS .
o
o
0
0
o
0
0
o
o
0
0
0
0
0
0
0
0
0
18
Adjusted gross income (AGI) gap
o
o
19
Relative AGI aao
0
1991
-6.4
1983
17
1. Line numbers in this table correspond to those in table 1.
AGI Adjusted gross income
BEA Bureau of Economic Analysis
1989
»3.1
1982
Line
.2
0
0
.2
.2
0
IRS Internal Revenue Service
NIPA's National income and product accounts
0
9.3
0
-24.6
-.5
1995
-78.7
-84
5
285
94
0
7
-51.2
o
-31.2
-.6
SURVEY OF CURRENT BUSINESS
20
November 1998
Gross Product by Industry, 1995-97
By Sherlene K.S. Lum and Brian C. Moyer
HIS ARTICLE presents new estimates of gross
product, or gross product originating (GPO),
by industry for 1997 and revised estimates for
1995-96; it also presents new and revised estimates of gross output and intermediate inputs by
industry.1 The new and revised estimates incorporate the results of the annual revision of the
national income and product accounts (NIPA'S)
released in July 1998 and newly available source
data.2 In addition, this article includes the tables
of GPO prices and unit costs that were first introduced in March 1998 to provide insight into the
sources of change in the aggregate price level by
industry and to identify the sources of GPO price
change among the cost components of GPO.3
i. For the previously published estimates of gross product by industry
for 1995-96, see Sherlene K.S. Lum and Robert E. Yuskavage, "Gross Product
by Industry, 1947-96," SURVEY OF CURRENT BUSINESS 77 (November 1997):
20-34.
2. For more information, see Eugene P. Seskin, "Annual Revision of the
National Income and Product Accounts," SURVEY 78 (August 1998): 7-35.
3. See Robert E. Yuskavage, "Gross Product by Industry Price Measures,
1977-96," SURVEY 78 (March 1998): 17-25.
T
Gross Product Originating: Definition and Relationship to Gross Domestic Product
Gross product, or gross product originating (GPO), by
industry is the contribution of each private industry and
government to the Nation's output, or gross domestic
product (GDP). An industry's GPO, often referred to as its
"value added," is equal to its gross output (sales or receipts and other operating income, commodity taxes, and
inventory change) minus its intermediate inputs (consumption of goods and services purchased from other
industries or imported).
For the national income and product accounts
(NIPA'S), GDP is measured as the sum of expenditure
components. Gross domestic income (GDI) measures
output as the sum of the costs incurred and the incomes
earned in the production of GDP. In concept, GDP and
GDI should be the same; in practice, they differ because
their components are estimated using largely independent and less-than-perfect source data. BEA views GDP as
the more reliable measure of output because the source
data underlying the estimates of expenditures are considered to be more accurate.1 The difference between
GDP and GDI is called the "statistical discrepancy"; it is
recorded in the NIPA'S as an "income" component that
reconciles GDI with GDP.
Current-dollar GPO by industry is measured as the sum
of distributions by industry of the components of GDI
attributable to labor and property located in the United
States. Consequently, the sum of the current-dollar GPO
estimates also differs from current-dollar GDP by the statistical discrepancy. In presenting the GPO estimates,
the statistical discrepancy is included in the GPO of private industries because of BEA'S view that most of the
measurement problems with the components of GDI affect the GPO of private industries rather than the GPO of
general government or government enterprises.
Real GDP in the NIPA'S is also measured as the sum
of the expenditure components. Real GPO estimates for
most industries are derived using separate estimates of
gross output and intermediate inputs.2 The sum of
the real GPO estimates differs from real GDP by the real
statistical discrepancy, which is shown as part of privateindustry GPO, and by the category entitled "not allocated
by industry," which is the difference between real GDP
and the sum of real GPO for the detailed industries and
of the statistical discrepancy. The value of the category
"not allocated by industry" reflects the lack of additivity
of detailed real GPO estimates that results from the formula used to calculate real output and from differences
in the source data (both current dollars and prices) used
to estimate industry GPO and the expenditures measure
of real GDP. As with the current-dollar measures, BEA
views the source data used to estimate the components
of real GDP to be more reliable. In addition, the amount
of detailed expenditures data available to calculate real
GDP is greater than that for the gross output and intermediate inputs available to calculate real GPO. For some
industries, no source data are available to measure gross
output, and the resulting real GPO estimates are prepared
using less reliable methodologies.
i. For additional information on the accuracy of the two measures,
see the box "The Statistical Discrepancy" in Robert P. Parker and Eugene P. Seskin, "Annual Revision of the National Income and Product
Accounts," SURVEY OF CURRENT BUSINESS 77 (August 1997): 19.
2. For information about the computation of the real GPO estimates, see the box "Computation of the Chain-Type Quantity Indexes
for Double-Deflated Industries" in Robert E. Yuskavage, "Improved Estimates of Gross Product by Industry, 1959-94," SURVEY 76 (August 1996):
142.
SURVEY OF CURRENT BUSINESS
This comprehensive presentation of these integrated estimates of GPO, gross output, intermediate inputs, and GPO prices and unit costs is the
latest step in the continuing efforts by the Bureau
of Economic Analysis (BEA) to make the industry accounts data more useful. Last November,
BEA presented new GPO estimates for 1996, which
represented a speedup in the availability of estimates for the most recent complete year, and BEA
presented and discussed annual estimates of gross
output and intermediate inputs by industry for
the first time. Future improvement efforts will
focus on the development of measures of gross
output for the industries for which the doubledeflation method is not used to prepare the GPO
estimates and on integrating the GPO estimates
with the benchmark input-output accounts and
with other BEA industry estimates.
This article is presented in five parts. The first
part discusses the relative performance of industries for 1995-97 in terms of real growth rates,
contributions to real GDP growth, industry shares
of cur rent-dollar gross domestic product (GDP),
and the composition of cur rent-dollar GPO. The
second part describes the revisions to the GPO estimates, and the third part discusses gross output
and intermediate inputs by industry. The fourth
part describes GPO prices and unit costs, and the
fifth part discusses the changes to the source data
and estimation methods. The new and revised
estimates for 1995-97 for detailed industries are
presented in tables after the text.
November
Real growth rates
From 1992, the start of the current cyclical expansion, through 1997, the most recent year for
which GDP estimates by industry are available,
real GDP increased at an average annual rate
of 3.1 percent; private industries increased 3.6
percent, and government increased 0.2 percent
(table i). The real gross product of all private
industry groups increased; the increases ranged
from 7.9 percent in durable goods manufacturing
to 1.9 percent in nondurable goods manufacturing. Manufacturing as a whole increased 5.2
percent. Excluding manufacturing, the largest
increases were in trade—5.6 percent in retail
trade and 5.5 percent in wholesale trade—and the
smallest increase was in finance, insurance, and
real estate (FIRE), 2.3 percent.
In 1992-97, at the 66-industry level of detail,
the changes in real GDP varied widely. Seventeen industries recorded average annual increases
of 5 percent or more in real gross product.
Three of these industries recorded especially large
increases: Electronic and other electric equipment (21.5 percent) and industrial machinery and
equipment (14.6 percent) in durable goods manufacturing and security and commodity brokers
(19.5 percent) in FIRE.4 Nine industries recorded
4. Annual and average annual growth rates for detailed industries are
computed from the chain-type indexes that are shown in table 12. Percent
changes in quantity indexes and chained dollars at all levels are the same
and chained dollars are calculated from the quantity indexes. Real GPO estimates in chained (1992) dollars for detailed industries and industry groups
Table 1.—Percent Changes in Real Gross Domestic Product
by Industry Group, 1993-97
Industry Growth, Shares,
and Composition
The relative performance of particular industries
or industry groups can be assessed by comparing real GPO growth rates, contributions to real
GDP growth, the shares of GDP across industries, and the composition of cur rent-dollar GPO.
Comparisons of the growth rates of real gross
product indicate an industry's performance relative to other industries. Contributions to real
GDP growth indicate the extent that each industry
affected the growth of GDP. Changes in the share
of cur rent-dollar GDP that is accounted for by
an industry's gross product indicate whether that
industry's claim on the economy's resources is
increasing or decreasing. Changes in the composition of an industry's cur rent-dollar GPO indicate
whether the labor and capital shares for that
industry are changing.
[Percent change from preceding period]
Average
annual
1993 1994 1995 1996 1997 rate of
change,
1992-97
Gross domestic product
Private industries
Agriculture, forestry, and fishing
Minina . . .
2.3
3.5
2.3
3.4
3.9
3.1
?7
45
2.3
38
45
3.6
7.6 11.7
2.6
67
36
52
79
19
4.0
4.6
-9.0
.
16.4 -10.9
46
63
4 8 -4?
Construction
?0
66
i.8
56
Manufacturing
Durable aoods
Nondurable goods
35
61 104
4 60
66
83
44
18
58
59
91
19
Transportation and public utilities
Transportation
Communications
Electric, gas, and sanitary services
4.4
43
5.8
66
1.4
.8
5.8
63
2.9
51
60
?6
4.0
7.9
1.3
5.0
.5
3.4
66
2.5
3.6
Wholesale trade
?5
77
1.6
68
93
55
Retail trade
40
6?
4.2
63
7?
56
Finance, insurance, and real estate
2.3
1.9
.8
3.3
3.2
2.3
Services
19
?7
39
34
37
31
.3
.3
-.2
.1
.7
.2
Government
• 21
SURVEY OF CURRENT BUSINESS
22 • November 1998
decreases in real growth. The largest decreases
were also in durable goods manufacturing: Instruments and related products, down 7.7 percent,
and "other transportation equipment," down 4.9
percent. Real growth in instruments and related
products decreased each year.
In 1995, real GDP slowed to a 2.3-percent increase from a 3.5-percent increase in 1994. The
growth in private-industry real GPO slowed to a
2.3-percent increase from a 4.5-percent increase;
all private industry groups except services contributed to the deceleration. Agriculture, forestry,
and fishing declined 10.9 percent after increasing 16.4 percent. Services increased 3.9 percent
after increasing 2.7 percent. Although manufacturing grew at a slower rate than in 1994,
two of the fastest growing industry groups were
durable goods manufacturing (8.3 percent) and
nondurable goods manufacturing (4.4 percent).
By detailed industry, the fastest growing industries in 1995 were in manufacturing and
services. In manufacturing, industrial machinery
and equipment increased 23.8 percent; electronic
and other electric equipment increased 22.6 percent; food and kindred products increased 18.1
percent, and petroleum and coal products increased 10.2 percent. In services, motion pictures
grew 11.8 percent. Two industries decreased substantially: Farms in agriculture, forestry, and
fishing, down 15.2 percent, and paper and allied
products in manufacturing, down 14.8 percent.
In 1996, real GDP growth accelerated to 3.4 percent from 2.3 percent in 1995. The acceleration
was mainly in agriculture, forestry, and fishing;
construction; transportation and public utilities;
wholesale trade; and retail trade. All industry groups except mining and nondurable goods
manufacturing increased. Agriculture, forestry,
are shown in table 13. For information about the computation of the real GPO
estimates, see the box "Computation of the Chain-Type Quantity Indexes for
Double-Deflated Industries" in Robert E. Yuskavage, "Improved Estimates of
Gross Product by Industry, 1959-94," SURVEY 76 (August 1996): 142.
Acknowledgments
Robert E. Yuskavage, Chief of the GDP by Industry
Branch of the Industry Economics Division, supervised
the preparation of the estimates. Sumiye Okubo, Associate Director for Industry Accounts, and Ann M.
Lawson, Chief of the Industry Economics Division,
provided overall guidance. Felicia V. Candela, Christine M. Fitch, Peter J. Lee, Tameka R. Lee, Sherlene
K.S. Lum, Jeffrey I. Matsu, Fritz Mayhew, Kimberly A.
Mourey, Brian C. Moyer, John Sporing, and Robert A.
Sylvester prepared the estimates.
and fishing grew the fastest (7.6 percent), followed by wholesale trade (6.8 percent); mining
declined 4.2 percent, and nondurable goods manufacturing declined 3.2 percent. The growth in
agriculture, forestry, and fishing reflected large
increases in the gross output and the gross
product of farms. Transportation increased 6.3
percent after increasing 0.8 percent, and wholesale trade increased 6.8 percent after increasing
1.6 percent.
By detailed industry, the fastest growing industries in 1996 were in FIRE and in transportation
and public utilities, and the slowest growing industries were in manufacturing. In FIRE, real GPO
for security and commodity brokers increased
32.8 percent, and in transportation and public
utilities, "pipelines, except natural gas" increased
29.0 percent. The two biggest declines in real
GPO were in food and kindred products, down
16.0 percent, and in leather and leather products,
down 12.9 percent.
In 1997, real GDP growth increased to 3.9 percent from 3.4 percent. The increase reflected
increases in all industry groups. Agriculture,
forestry, and fishing grew the fastest (11.7 percent), followed by wholesale trade (9.3 percent),
Table 2.—Contributions to Percent Change in Real Gross
Domestic Product by Industry Group, 1993-97
1993
1994
1995
Average
annual
1996 1997
rate,
199297
Percent change:
Gross domestic product . .
73
35
73
34
39
31
Percentage points:
Private industries
73
38
70
33
39
3.1
Agriculture, forestry, and fishing
-.2
.3
-.2
.1
.2
Mining
1
1
1
-1
1
1
Construction
1
?
1
?
1
1
Manufacturing
Durable goods
Nondurable goods
8
8
10
10
q
"i
3
1?
8
8
3 -?
i
9
8
1
.4
1
.5
?
.1
0
1
.5
9
9
.1
.2
2
1
0
.3
•j
1
.1
14
0
Transportation and public utilities
Transportation
Communications
Electric, gas, and sanitary services
?
1
.1
.2 0
Wholesale trade
Retail trade
....
0
?
5
1
5
8
4
4
5
4
8
6
5
.4
Finance, insurance, and real estate
.4
.4
.1
.6
.6
Services
4
5
8
7
7
6
Statistical discrepancy *
1 -8 -8 -1 —3
_3
Government
2
Not allocated bv industry
0
0
0
-.4
n
.3
0
1
.1 -.1
0
-.1
1. Equals GDP measured as the sum of expenditures less gross domestic income.
2. Equals GDP less the statistical discrepancy and the sum of GPO of the detailed industries.
NOTE.—For information on the calculation of the contributions to percent change, see footnote
5 in the text.
SURVEY OF CURRENT BUSINESS
November 1998
real GDP. In 1996, services contributed 0.7 percentage point, and durable goods, retail trade,
and FIRE each contributed 0.6 percentage point.
In 1997, durable goods manufacturing was again
the largest contributor, 0.9 percentage point, and
services was next, 0.7 percentage point.
durable goods (9.1 percent), retail trade (7.2 percent), and mining (6.7 percent). Electric, gas,
and sanitary services (0.5 percent) and nondurable goods manufacturing (1.9 percent) grew
the slowest.
By detailed industry, the fastest growing industries in 1997 were in durable goods manufacturing: Electronic and other electric equipment, up
22.5 percent, and industrial machinery and equipment, up 17.5 percent. These two industries were
also among the fastest growing industries in 1995
and in 1996.
Shares of current-dollar GDP
Shares in current dollars are a better indicator
of an industry's relative size in the economy in
any one period than shares in real dollars, because industry shares in real dollars—whether
using weights from the period being measured
(chained dollars) or weights from a single period
(constant dollars)—depend on the choice of the
base year and therefore are not good indicators
of relative size in years other than the base year.
The share of GDP that is accounted for by private services-producing industries rose relative to
that by goods-producing industries and by government. The share of private goods-producing
industries increased from 24.0 percent in 1992
to 24.2 percent in 1997, and the share of private
services-producing industries increased from 61.3
percent to 63.9 percent (table 3).6 The share accounted for by government fell from 14.0 percent
Contributions to real GDP growth.—An industry's
contribution to the growth of real GDP depends
both on the industry's rate of growth and on
the industry's relative size. (See the box "Using
Chained-Dollar Estimates for Computing Contributions to Economic Growth: A Cautionary
Note.") In 1992-97, durable goods manufacturing was the largest contributor, accounting for
0.8 percentage point of the 3.i-percent growth
in real GDP; services was the next largest, 0.6
percentage point (table 2).5 In 1995, durable
goods manufacturing and services each contributed 0.8 percentage point to the growth in
5. For a description of the calculation of these contributions, see "Note
on Computing Alternative Chained Dollar Indexes and Contributions to
Growth" in J. Steven Landefeld and Robert P. Parker, "BEA'S Chain Indexes,
Time Series, and Measures of Long-Term Economic Growth," SURVEY 77
(May 1997): 63.
6. Private-goods producing industries consist of agriculture, forestry, and
fishing; mining; construction; and manufacturing. Private-services producing
industries consist of transportation and public utilities; wholesale trade; retail
trade; finance, insurance, and real estate; and services.
Table 3.—Gross Product by Industry Group in Current Dollars and As a Percentage of Gross Domestic Product, 1992-97
Percent
Billions of dollars
1992
Gross domestic product . .
Private industries
Agriculture, forestry, and fishing
Mining
1993
1994
1995
1996
1997
1992
1993
1994
1995
1996
1997
6,244,4
6,558.1
6,947.0
7,269.6
7,661.6
8,110.9
100.0
100.0
100.0
100.0
100.0
100.0
5,370.8
5,655.4
6,013.5
6,306.9
6,667.9
7,083.3
86.0
86.2
86.6
86.8
87.0
87.3
106.1
119.2
130.4
131.7
98.7
112.4
109.5
1.8
1.6
1.7
1.5
1.7
1.6
92.2
94.6
94.9
113.8
120.5
1.5
1.4
1.4
1.4
1.5
1.5
229.7
242.4
268.7
286.4
311.9
328.8
3.7
3.7
3.9
3.9
4.1
4.1
1,063.6
573.4
490.3
1,116.5
615.7
500.8
1,216.1
679.2
536.9
1,282.2
711.6
570.5
1,309.1
737.3
571.8
1,378.9
784.0
594.9
Transportation and public utilities ..
Transportation
Communications
Electric, gas, and sanitary services
528.7
192.8
161.1
174.7
561.7
203.3
175.6
182.8
598.7
219.9
184.6
194.2
616.4
226.1
193.3
197.0
649.3
237.0
207.5
204.9
Wholesale trade
406.4
423.3
468.0
491.4
519.8
Construction
Manufacturing
Durable goods
Nondurable goods
Retail trade
17.0
17.0
17.5
17.6
17.1
17.0
9.2
7.9
9.4
7.6
9.8
7.7
9.8
7.8
9.6
7.5
9.7
7.3
676.3
255.5
211.6
209.2
8.5
3.1
2.6
2.8
8.6
3.1
2.7
2.8
8.6
3.2
2.7
2.8
8.5
3.1
2.7
2.7
8.5
3.1
2.7
2.7
8.3
3.2
2.6
2.6
562.8
6.5
6.5
6.7
6.8
6.8
6.9
544.3
573.2
615.3
673.0
712.9
Finance insurance and real estate
1,147.9
1,218.1
1,267.6
1,362.3
1,448.6
1,570.3
18.4
18.6
18.2
18.7
18.9
19.4
Services
1,200.8
1,267.0
1,350.4
1,445.4
1,544.2
1,656.8
19.2
19.3
19.4
19.9
20.2
20.4
Statistical discrepancy *
Government
Addenda:
Private goods-producing industries2
Private services-oroducina industries3
8.7
8.7
8.9
8.8
8.8
8.8
44.8
52.6
14.6
-26.5
-02.2
-55.8
873.6
902.7
933.5
962.7
993.7
1,027.6
14.0
13.8
13.4
13.2
13.0
12.7
1,497.9
3.828.1
1,559.6
4.043.2
1,698.9
4.300.0
1,776.8
4.556.6
1,865.1
4.835.0
1,959.9
5.179.1
24.0
61.3
23.8
61.7
24.5
61.9
24.4
62.7
24.3
63.1
24.2
63.9
1. Equals GDP measured as the sum of expenditures less gross domestic income.
2. Consists of agriculture, forestry, and fishing; mining; construction; and manufacturing.
641.0
.7
.8
.2
-.4
-.4
-.7
3. Consists of transportation and public utilities; wholesale trade; retail trade; finance, insurance,
and real estate; and services.
SURVEY OF CURRENT BUSINESS
24 • November
to 12.7 percent; the fall was concentrated in
Federal general government (table io)7
The increase in the share of private servicesproducing industries was mostly accounted for by
"services" and by FIRE; the share of services rose
1.2 percentage points, and that of FIRE rose i.o
percentage point. In FIRE, the shares of security
and commodity brokers and of insurance carriers
both increased 0.5 percentage point. The share of
wholesale trade increased from 6.5 percent to 6.9
percent. Manufacturing's share of GDP increased
from 17.0 percent in 1992 to 17.6 percent in 1995,
primarily reflecting durable goods, and then fell
7. In addition, the statistical discrepancy as a share of current-dollar GDP
fell from 0.7 percent to —0.7 percent.
back to 17.0 percent by 1997, primarily reflecting
nondurable goods.
Composition of GPO
Current-dollar GPO is measured as the sum of
costs incurred and incomes earned in production
in each industry. It is equal to gross domestic income, whose components can be grouped
into categories that approximate shares of labor
and of capital. Differences over time and among
industry groups in shares of labor and capital can be observed using these approximations.
The labor share of production can be approximated using compensation of employees, which
Using Chained-Dollar Estimates for Computing Contributions to Economic Growth: A Cautionary Note
The Bureau of Economic Analysis (BEA) measures real output
and prices using chain-type annual-weighted indexes computed with
a Fisher formula. These measures, which were introduced in the
most recent comprehensive revisions of the national income and
product accounts and of the gross product originating by industry (GPO) estimates, allow for the effects of changes over time in
relative prices and quantities. By eliminating the substitution bias
inherent in the previously featured fixed-weighted measures of real
output and prices, these new indexes provide significantly more
Exhibit 1.—Alternative Measures of Contributions to Real GDP
Growth Based on Chained Dollars, 1977-82
[Percent]
Contri- PercentContriage
bution to bution to
change in change in points
differGDP,
GDP,
1992=100 1977=100 ence
Line
1
100.0
Gross domestic product
2 Agriculture, forestry, and fishing
4.2
3 Mining
4 Construction
5 Manufacturing
6
Durable goods
Nondurable goods ....
1
R
9
10
11
Transportation and public utilities .. .
Transportation
Communications
Electric gas and sanitary services
12 Wholesale trade
13
. . .
. . . .
Retail trade
14
Finance insurance and real estate
15
Services
16
Government
17
Residual1
. .
100.0
7.3
0
-3.1
-1 0
-1 4
4
-119
-11 0
-.9
4.0
-21
7.1
4.9
-28
7.7
-.9
.7
-.6
9.6
.1
10.3
-1 9
10.4
.2
13.6
-1 6
-.8
-1
-3.3
-.3
13.2
19.7
-6.5
6.8
7.5
-.7
388
31.4
7.4
36.5
27.6
8.9
103
89
14
-10.4
-7.1
-3.3
1. The residual line is the difference between the first line and the sum of the most detailed lines.
NOTE.—Contributions to change are calculated by dividing the change in chained dollars for 1977-32 for
each industry group by the change in chained dollars for GDP. This calculation is performed using chained
(1992) dollars and chained (1977) dollars. This procedure differs from that used for the calculations of contributions to growth shown in NIPA table 8.2.
accurate measures of growth in real GDP and other major economic
aggregates.1
As a convenience for data users, BEA also prepares dollardenominated real output series that are consistent with the chaintype indexes and that retain some of the computational advantages
of constant-dollar series. The real chained (1992) dollar estimates
for a GDP expenditure component or for a GPO industry are derived
as the product of the chain-type quantity index (divided by 100) and
the corresponding 1992 current-dollar value. 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 many analytical purposes, these chained-dollar estimates are
appropriate and informative. Growth rates and percent changes
based on chained dollars are always equivalent to those derived from
the quantity indexes and can be used confidently over any time period. Contributions to change computed from published chained
dollars are usually appropriate for periods close to the reference
year, especially for components or industries whose prices have not
changed substantially relative to GDP prices.
However, if relative prices for individual GDP expenditure components or for GPO industries have changed substantially, then
calculations of contributions to economic growth based on published chained-dollar estimates may be misleading and inappropriate
even for short periods close to the reference year. Even for highly
aggregated expenditure categories or for industry groups, the calculations will usually be misleading over long periods, because relative
prices are likely to change substantially.
The accompanying exhibit shows the contributions of industry
groups to the change in real GDP for 1977-82 based on chained (1992)
dollars and on chained (1977) dollars. (The period 1977-82 was
chosen for illustrative purposes because it is relatively far from the
1. For more information, see J. Steven Landefeld and Robert P, Parker, "BEA'S
Chain Indexes, Time Series, and Measures of Long-Term Economic Growth," SURVEY
OF CURRENT BUSINESS 77 (May 1997): 58-68.
2. Comparisons among the chained (1992) dollar estimates of components or industries may be particularly misleading for periods before 1982. For example, during the
World War n era, the share of GDP accounted for by government consumption expenditures and gross investment increased substantially, and prices throughout the economy
were tightly controlled and very different from postwar levels. These changes in the
structure of the economy, while relatively short lived, seriously affect computations of
contributions to GDP growth in this period.
SURVEY OF CURRENT BUSINESS
consists of wage and salary accruals, employer
contributions for social insurance, and other labor income. The capital share of production
(property-type income) can be approximated using all the remaining components of GPO except
indirect business tax and nontax liability, which
is treated as a separate cost component because it
is part of the pre-tax return to capital that accrues
to government rather than to business.8 In levels,
these cost components increased for all industry
8. Property-type income is the sum of corporate profits, proprietors' income, rental income of persons, net interest, capital consumption allowances,
business transfer payments, and the current surplus of government enterprises less subsidies. Proprietors' income is included in property-type income
as a capital share of production; however, an unknown portion of proprietors'
income represents a labor share of production.
November 1998 •
groups, so the changes in shares reflect differences
in growth rates among the cost components.
For the total economy, the share of GDP accounted for by compensation of employees decreased slightly, from 58.4 percent in 1992 to 57.8
percent in 1997, while the share of property-type
income increased from 32.8 percent to 35.2 percent (table 11). The share of indirect business
tax and nontax liability decreased from 8.1 percent to 7.7 percent. In 1992-97, the labor and
capital shares of GPO and the change in these
shares varied among industry groups. For manufacturing, the labor share of GPO declined 4.4
percentage points despite increases in full-time
equivalent employment and compensation per
Using Chained-Dollar Estimates for Computing Contributions to Economic Growth:
A Cautionary Note, Continued
reference year for published chained (1992) dollars.) Contributions
to the change in real GDP were computed by dividing the change
in chained dollars for an industry group by the change in chained
dollars for GDP for the period. For many industry groups, the contributions are very similar using either 1977 or 1992 as the reference year,
but for some industry groups, they differ substantially. As measured
using chained (1992) dollars, services account for 37 percent of real
GDP growth in 1977-82; as measured using chained (1977) dollars—
a more appropriate (contemporaneous) reference period—services
account for 28 percent. Similarly, the contribution of finance, insurance, and real estate (FIRE) is 39 percent based on chained (1992)
dollars and 31 percent based on chained (1977) dollars. These differences arise because the GPO prices of services and of FIRE increased
substantially relative to GDP prices from 1977 to 1992, whereas the
GPO prices of most other industry groups declined relative to GDP
prices. Thus, using the relative prices of 1992 for services and
FIRE overstates their contribution to real economic growth in the
earlier period.
The contributions to real GDP growth computed from chaineddollar estimates can be misleading not only for industry groups over
long time periods, but also for detailed industries during periods of
rapid changes in relative prices, even for periods that are relatively
close to the chained-dollar reference year. To illustrate, the contributions of detailed industries to the change in GDP for 1997 were
computed using the published chained (1992) dollars and using an
alternative measure based on chained (1996) dollars. For most industries, the alternative measure yields the same or similar estimates
of contributions to real GDP growth. However, for two industries
for which GPO prices have increased much slower relative to GDP
prices—industrial machinery and equipment (which includes computers) and electronic and other electric equipment (which includes
semiconductors)—the contributions are substantially overstated using chained (1992) dollars: For industrial machinery and equipment,
11.6 percent, compared with 8.6 percent using chained (1996) dollars; and for electronic and other electric equipment, 17.5 percent,
compared with 10.6 percent. Conversely, the contribution of the
insurance carriers industry is somewhat understated—2.1 percent,
compared with 2.7 percent—because the GPO price for this industry
increased much faster than GDP prices.
For analyses of contributions to the change in real GDP, BEA
strongly recommends the use of the published contribution-to-
growth tables. Table 2 in the monthly GDP news release and NIPA
table 8.2, which is on page D-25 of this issue, provide accurate measures of the contributions of the major GDP expenditure components
to the percent change in real GDP for all periods; these tables use
exact formulas for attributing growth to the components of GDP.
Table 2 in this article provides estimates of annual contributions to
the percent change in real GDP for industry groups based on approximations to the exact formula. The estimates for each year are
based on the prior year's current-dollar estimates, and the average
annual contribution for 1992-97 is computed as the average of the
annual percentage-point contributions.
For some analytical purposes, it may be desirable to compute contributions to growth for more than a single period or for aggregates
other than GDP. Users can prepare close approximations of these
contributions using chain-type annual-weighted indexes. In effect,
users compute a chained-dollar series for a particular period using
the percent changes in the chain-type annual-weighted indexes to
compute chained-dollar series indexed to the current dollars of the
reference period appropriate for the analysis (see footnote i for a
reference to additional information on these calculations). Another
alternative is to use the same procedure as that used for table 2 in
this article. In table 2, the contributions of industry groups to real
GDP growth for 1993 were computed by (i) extrapolating the 1992
estimates of current-dollar GDP and GPO by the percent changes in
the corresponding GDP and GPO chain-type quantity indexes from
1992 to 1993, (2) calculating each industry group's percentage contribution to the change in real GDP for 1993 based on chained dollars,
and (3) multiplying these percentages by the percent change in real
GDP for 1993. The contributions for 1994 were computed by extrapolating the 1993 current-dollar estimates by the percent changes in the
chain-type quantity indexes from 1993 to 1994. These estimates were
then used to calculate the contribution of each industry group to the
change in real GDP for 1994 based on chained (1993) dollars. As with
the calculations for contributions to real GDP growth for 1993, these
percentage contributions to growth for 1994 were then multiplied by
the percent change in real GDP for 1994. This procedure was repeated
to calculate each industry group's percentage-point contribution to
real GDP growth for each year (1993,1994,1995,1996, and 1997). The
average annual contribution for 1992-97 was then computed for each
industry group as the simple average of each year's percentage-point
contribution.
25
SURVEY OF CURRENT BUSINESS
26 • November 1998
full-time equivalent employee.9 Despite a longterm decline in labor's share of manufacturing
GPO, labor's share increased 0.2 percentage point
in 1997, the first increase since 1992. In 1992-97,
the capital share of manufacturing GPO increased
5.0 percentage points. For durable goods manufacturing, the labor share dropped 7.0 percentage
points, and the capital share increased by 7.3
percentage points.
The shifts in the labor and capital shares in
mining, in agriculture, forestry, and fishing, and
in wholesale trade were relatively large. In mining, the labor share decreased from 35.2 percent
in 1992 to 29.9 percent in 1997, and the capital
share rose from 53.2 percent to 61.1 percent. In
agriculture, forestry, and fishing, the labor share
increased from 27.3 percent to 32.0 percent, and
the capital share decreased. In wholesale trade,
the labor share decreased from 58.8 percent to
55.2 percent, and the capital share increased from
18.5 percent to 23.2 percent.
Revisions to the GPO Estimates
The revisions to cur rent-dollar GPO and to real
GPO growth rates by industry group for 1995 and
1996 are presented in table 4. The estimates reflect the revisions to the annual NIPA estimates
and the incorporation of new and revised source
data for gross output and prices. The revisions to
the 1995 estimates were smaller than those to the
1996 estimates: GDP was revised up $4.2 billion
for 1995 and $25.6 billion for 1996. The revisions to the 1996 current-dollar estimates reduced
manufacturing's share of GDP by 0.4 percentage
point; this reduction was offset by an increase
in the share accounted for by the statistical discrepancy.10 The real GDP growth rate was revised
up 0.3 percentage point for 1995 and up 0.6 percentage point for 1996. The revisions to real
GPO growth rates for some industry groups were
substantial, but the effects of these revisions on
industry contributions to real GDP growth were
generally small.
Current-dollar estimates
9. For some analytical purposes, the labor and capital shares of gross
output are more appropriate than the labor and capital shares of GPO. For
most industries, particularly for manufacturing, the labor and capital shares
of GPO are larger than the labor and capital shares of gross output, because
gross output also includes intermediate inputs. For example, labor's share of
manufacturing gross output was 22.6 percent in 1997, whereas labor's share
of manufacturing GPO was 63.6 percent.
The revisions to cur rent-dollar GPO largely reflect
the annual NIPA revisions to the components of
10. The share increased because the value of the statistical discrepancy was
revised from —$59.9 billion to —$32.2 billion.
Table 4.—Revisions to Gross Domestic Product by Industry Group, 1995-96
Current-dollar gross product
Real gross product
Billions of dollars
Percent change from preceding period
1995
Previously
published
Gross domestic product
1995
1996
PreRevised Revision viously
published
PreRevised Revision viously
published
1996
PreRevised Revision viously
published
Revised Revision
7,265.4
7,269.6
4.2
7,636.0
7,661.6
25.6
2.0
2.3
0.3
2.8
3.4
0.6
6,301.3
6,306.9
5.6
6,639.8
6,667.9
28.1
2.7
2.3
-.4
2.9
3.8
.9
111.0
109.5
7.6
7.3
99.8
98.7
286.4
286.4
1,286.3
716.8
569.5
1,282.2
711.6
570.5
-4.1
-5.2
Transportation and public utilities
Transportation
Communications
Electric gas and sanitary services
622.4
228.7
191.6
202.0
616.4
226.1
193.3
197.0
-6.0
-2.6
Wholesale trade
484.4
491.4
Retail trade
637.6
641.0
Private industries
Agriculture, forestry, and fishing
Mining
.
Construction
Manufacturing
Durable goods .
Nondurable ooods .
129.8
130.4
.6
1.1
113.6
113.8
.2
5.7
4.8
-.9
0
306.1
311.9
5.8
1.8
1.8
0
4.0
1,332.1
749.0
583.1
1,309.1
737.3
571.8
-23.0
-11.7
-11.3
6.7
8.9
4.1
6.6
8.3
4.4
-1
.6
.3
3.9
7.4
-.4
645.3
235.1
200.3
210.0
649.3
237.0
207.5
204.9
4.0
1.9
7.2
1.7
.8
.9
3.4
1.4
.8
2.1
1.3
-.3
0
1.2
2.5
2.2
1.8
3.7
5.8
6.3
6.0
5.0
7.0
516.8
519.8
3.0
2.0
1.6
-.4
7.8
6.8
3.4
667.9
673.0
5.1
3.5
4.2
.7
4.2
6.3
-1.5
1.0
1.7
-5.0
-5.1
-6.5
-10.9
^.4
-2.1
.3
-5.9
-4.2
5.6
1.8
5.8
-3.2
1.7
1.6
-2.1
-1.6
-2.8
3.3
4.1
4.2
1.3
-1.0
2.1
Finance insurance, and real estate
1,361.3
1,362.3
1.0
1,448.5
1,448.6
.1
2.9
.8
2.2
3.3
1.1
Services
1,440.3
1,445.4
5.1
1,539.5
1,544.2
4.7
3.4
3.9
.5
3.4
3.4
0
-28.2
-26.5
1.7
-59.9
-32.2
27.7
964.1
962.7
996.3
993.7
-2.6
-.1
-.2
-.1
-.4
.1
Statistical discrepancy 1
Government
1. Equals GDP measured as the sum of expenditures less gross domestic income.
-1.4
-2.1
.5
SURVEY OF CURRENT BUSINESS
gross domestic income and to the industry distributions of these components. Several of the
income components with larger revisions mostly
offset one another. The revisions to gross domestic income for 1995 include upward revisions
to corporate profits before tax and corporate
capital consumption allowances and downward
revisions to supplements and net interest. The revisions to gross domestic income for 1996 include
downward revisions of $24.6 billion to supplements and of $16.8 billion to net interest and
smaller upward revisions to most of the other
components.
For 1995, by industry group, the largest upward
revisions were to wholesale trade, $7.0 billion,
and services, $5.1 billion. The upward revision
to wholesale trade mainly reflected an upward
revision to indirect business tax and nontax liability, and the upward revision to services mainly
reflected revisions to corporate capital consumption allowances. The largest downward revisions
were to manufacturing, $4.1 billion, and to electric, gas, and sanitary services, $5.0 billion. The
downward revision to manufacturing reflected a
$5.2 billion revision to durable goods, mainly to
net interest and supplements; the revision to net
interest was concentrated in electronic and other
electric equipment and in motor vehicles and
equipment, and the revision to supplements was
concentrated in motor vehicles and equipment.
The downward revision to electric, gas, and sanitary services reflected revisions to noncorporate
and corporate capital consumption allowances.
For 1996, the largest upward revisions were to
communications, $7.2 billion, and to construction, $5.8 billion. The revision to communications reflected upward revisions to net interest
and to indirect business tax and nontax liability. The revision to construction reflected upward
revisions to corporate profits before tax and to
corporate capital consumption allowances.
The largest downward revision for 1996 was
to manufacturing, down $23.0 billion, reflecting large downward revisions to supplements
and to corporate profits before tax and smaller
downward revisions to noncorporate income and
to business transfer payments. These revisions
were partly offset by small upward revisions to
noncorporate and corporate capital consumption
allowances. Durable goods manufacturing was
revised down $11.7 billion, reflecting the large
downward revision to supplements and smaller
downward revisions to net interest, noncorporate
income, and corporate profits before tax; these
revisions were partly offset by upward revisions to
November 1998 •
corporate and noncorporate capital consumption
allowances. Nondurable goods manufacturing
was revised down $11.3 billion, mainly reflecting
downward revisions to corporate profits before
tax, noncorporate income, and business transfer
payments.
In durable goods manufacturing, fabricated
metal products were revised down $5.1 billion, reflecting a downward revision to corporate profits
before tax, and instruments and related products were revised up $3.2 billion, reflecting an
upward revision to corporate profits before tax.
In nondurable goods manufacturing, food and
kindred products were revised down $6.6 billion
and chemicals and allied products were revised
down $2.0 billion; both revisions reflected large
downward revisions to corporate profits before
tax.
Real growth rates
The revisions to real GPO growth rates for 1995
and 1996 primarily reflected the revisions to
current-dollar GPO, and they also reflected the incorporation of new and revised source data for
gross output and prices. By industry, the revisions to real GPO growth rates in both years were
generally offsetting. However, the growth rate for
Data Availability
This article presents the summary estimates of gross
product by industry. These estimates and more detailed estimates for 1947-97 are available on BEA'S Web
site; go to <www.bea.doc.gov>, and click on Industry and Wealth data. They are also available online
to subscribers to STAT-USA'S Economic Bulletin Board
and Internet services (call 202-482-1986, or go to
<www.stat-usa.gov>).
In addition, the estimates will be available on
diskettes for $20.00 each from BEA in late November.
• Gross Product by Industry, 1947-97—product
number NDN-0219.
• Gross Output by Detailed Industry, 1977-97—
product number NDN-0220.
• Manufacturing Industry Shipments, 1977-97—
product number NDN-0221.
• Manufacturing Product Shipments, 1977-96—
product number NDN-0222.
To order using Visa or MasterCard, call the BEA Order Desk at 1-800-704-0415 (outside the United States,
call 202-606-9666). To order by mail, send a check
made payable to "Bureau of Economic Analysis, BE-53,"
to BEA Order Desk, BE-53, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC
20230.
27
SURVEY OF CURRENT BUSINESS
28 • November 1998
Table 5.—Percent Changes in Chain-Type Quantity Indexes
by Industry Group, 1993-97
[Percent change from preceding period]
1993
1994
1995
1996
Average
annual
1997 rate of
change,
199297
2.3
3.5
2.3
3.4
3.9
3.1
?7
4.5
2.3
3.8
45
3.6
Agriculture, forestry, and fishing:
Gross output
Intermediate inputs
Gross product
-?4
40
-90
83
1.2
-00
4.8
-10.9
4.0 6 5
1.0 ?0
7.6 11 7
2.6
2.6
2.6
Mining:
Gross output
Intermediate inputs
Gross product
7
-43
48
Construction:
Gross output
Intermediate inputs
Gross product
Manufacturing:
Gross output
Intermediate inputs
Gross product
Gross domestic product
Private industries l
Durable goods:
Gross output
. .
Intermediate inputs
Gross product
Nondurable goods:
Gross output
Intermediate inputs
Gross product
16.4
6.3
4.8
11.8
-4.2
?9
-30
67
?•}
31
?n
4.1
1.3
66
.6
-.8
18
4.8
3.8
56
37
56
??
3.1
2.6
36
35
35
35
5.7
42
84
5.0
41
66
3.4
44
1.8
68
73
59
4.9
47
52
57
54
61
83
7.1
104
7.6
7.2
83
6.5
6.9
58
96
99
91
7.5
7.3
79
13
17
4
2.8
1.2
60
2.0
.8
4.4
0
1.7
-3.2
36
45
19
1.9
2.0
1.9
44
43
58
6.6
1.4
.8
5.8
6.3
?9
51
40
4.6
50
19
45
7.6
3.0
2.3
-3.5
-.8
-9.3
1.6
1.3
-1.9
3.6
Transportation and public
utilities *
Transportation l
Communications:
Gross output
Intermediate inputs
Gross product
Electric, gas, and sanitary
services:
Gross output
Intermediate inputs
Gross product
9 -1.3
-19 -19.0
25
79
Wholesale trade:
Gross output
Intermediate inputs
Gross product
4fl
101
?5
6.0
23
7.7
15.2
Retail trade:
Gross output
Intermediate inputs
Gross product
43
48
40
5.1
3.2
62
3.0
.9
4.2
4.3
.9
6.3
Finance, insurance, and real
estate l
?3
1.9
.8
3.3
3?
2.3
Services1
19
2.7
3.9
3.4
37
3.1
.3
-2
.1
7
.2
?7
31
?0
5.5
3.5
85
3.8
3.4
42
3.6
4.4
2.4
63
66
57
4.4
4.2
45
2.9
3.9
2.4
4.4
4.5
3.6
Government 1
Addenda:
Private goods-producing
industries2:
Gross output
Intermediate inputs
Gross product
Private services-producing
industries13
fifi
^
R5
177
6.0 ?6
11.3
-?
0
1.1
.6 -12.6 -?3
5
50
13
-7.4
63
13.9
2.1
5.9
1.6
9.7
15.9
6.8
4.0
.1
34
3.1 4 4
-39 -57
6.8 93
4.8
3.3
5.5
4?
-9
7?
4.2
1.8
5.6
1. Gross product quantity index. Estimates for gross output and for intermediate inputs are
not shown for this industry group, because data are not available. See footnote 11 in the text.
2. Consists of agriculture, forestry, and fishing; mining; construction; and manufacturing.
3. Consists of transportation and public utilities; wholesale trade; retail trade; finance, insurance, and real estate; and services.
agriculture, forestry, and fishing GPO was revised
down 4.4 percentage points for 1995 and up 7.3
percentage points for 1996; and the growth rate
for transportation and public utilities GPO was
revised up 3.3 percentage points for 1996. For
agriculture, forestry, and fishing, the 1995 revision
reflected downward revisions to both farms and
agricultural services, forestry, and fishing, and
the 1996 revision reflected an upward revision to
farms. For transportation and public utilities,
the 1996 upward revision reflected upward revisions of 4.1 percentage points to transportation
and of 4.2 percentage points to communications. The revision to transportation reflected
an upward revision to trucking and warehousing, transportation by air, and "pipelines, except
natural gas," and the revision to communications
reflected an upward revision to telephone and
telegraph.
Gross Output and Intermediate Inputs
by Industry
This section presents new estimates of gross
output and intermediate inputs by industry for
1997 and revised estimates for 1995-96. First, it
presents current-dollar estimates of gross output
and intermediate inputs and their relationship
to cur rent-dollar GPO. Second, it presents chaintype quantity indexes for gross output and intermediate inputs and discusses how these indexes
are related to the GPO quantity indexes.
The estimates of gross output and intermediate inputs by industry, which are shown in
tables 14-16, are prepared for those industries
for which the double-deflation method is used
to compute real GPO.11 Gross output by industry measures an industry's total output (sales,
receipts, and other operating income). Intermediate inputs by industry measures an industry's
total use of secondary factors of production (the
energy, raw materials, semifinished goods, and
services that are purchased from other industries
or imported).
Current-dollar GPO by industry is the difference
between an industry's cur rent-dollar gross output
and its cur rent-dollar intermediate inputs. It represents the return to an industry's primary factors
of production (labor and capital), as measured by
its compensation of employees, indirect business
tax and nontax liability, and property-type income. Because GPO excludes intermediate inputs,
11. For other industries, the source data are not adequate for preparing gross output estimates. For more information on the double-deflation
method, see Yuskavage, "Improved Estimates " 142-145.
SURVEY OF CURRENT BUSINESS
it avoids double-counting in measuring industry
output.
Real growth in an industry's gross output and
intermediate inputs is measured using a chaintype quantity index. Quantity indexes for gross
output and intermediate inputs are computed
from detailed data on sales, purchases, and prices
using a Fisher chain-type quantity-index-number
formula. (Percent changes in the indexes and in
the chain-type quantity index for GPO are presented by industry group in table 5.) Because
industry gross output is produced using both primary and secondary factors of production, the
percent change in an industry's GPO quantity index depends positively on the percent change in
its gross output quantity index and negatively
on the percent change in its intermediate inputs quantity index. The weights of these gross
output and intermediate inputs growth rates are
determined by the relative levels of an industry's
current-dollar gross output and intermediate inputs.12 For example, the 1992-97 average annual
growth rate for telephone and telegraph GPO,
4.4 percent, lags the relatively strong growth in
this industry's gross output quantity index, 8.0
percent, because its intermediate inputs quantity index increased 14.5 percent, reflecting falling
prices for intermediate inputs. Similarly, the
average annual decline of 7.7 percent for instruments and related products GPO results from a
3.o-percent increase in this industry's gross output quantity index that was more than offset by
a 9.8-percent increase in its intermediate inputs
quantity index, partly reflecting falling prices for
semiconductor inputs.
GPO Prices and Unit Costs
This section presents new estimates of GPO prices
and unit costs by industry for 1997 and revised
estimates for 1995-96. First, it presents GPO price
indexes, including a discussion of contributions
to GPO price change and a discussion of the
relationship among GPO, gross output, and intermediate inputs price indexes. Second, it defines
and presents estimates of unit costs by industry.
GPO prices
The GPO price index for an industry represents
the implicit price of its primary factors of production (labor and capital). For most industries
and industry groups, the GPO price index is
12. For the Fisher chain-type quantity index, these weights change each
period.
November 1998 • 29
computed using a Fisher chain-type price-indexnumber formula. For some industries, the index
is an implicit price deflator because of data limitations. The GPO price index estimates are
presented in table 12, and the percent changes by
industry group, in table 6.
Table 6.—Percent Changes in Chain-Type Price Indexes by
Industry Group, 1993-97
[Percent change from preceding period]
Average
annual
1993 1994 1995 1996 1997 rate of
change,
199297
Gross domestic product
Private industries l
Agriculture, forestry, and fishing:
Gross output
Intermediate inputs
Gross product
Mining:
Gross output
Intermediate inputs
Gross product
2.6
2.4
2.3
1.9
1.9
2.2
2,5
18
2.5
1.9
1.7
2.1
26 -6
19 22
37 -35
?o
1n
31
83 -36
6? 22
107 -96
17
27
6
164
1 8 104
— 7 POP
—.2
7
—7
2.2
25
1.9
3.2
3.1
32
3.3
2.8
37
-.8
_5
.7
1.0
1
1 -?4 -1 6
?? -9* -1.1
-33 -21 -25
—3
.3
-1 3
_r
-39
1 3 -1 2
-1 9 -57
Construction:
Gross output
Intermediate inputs
Gross product ..
3.2
30
35
35
3.0
40
40
3?
47
?•>
16
31
Manufacturing:
Gross output
Intermediate inputs
Gross product
1.0
.8
14
1 2 ?3
1.7 4 ?
5 -1 1
__c
11
1.1
12
13
21
.9
5
1.7
12
12
11
48
65
18
?•>
19
3*)
.1
-9
2.1
1.9
18
20
1.8
11
.7
15
1.6 -.4
?0 -1 3
1.3
25
1.0
11
Durable goods:
Gross output
Intermediate inputs
Gross product
Nondurable goods:
Gross output
Intermediate inputs
Gross product
Transportation and public utilities l ...
Transportation 1
Communications:
Gross output
Intermediate inputs
Gross product
Electric, gas, and sanitary
services:
Gross output
Intermediate inputs
Gross product
o
6
13
-.5 -22
2.2 22
/;
-1.0
?? -1 1 -20
99 -48 -3.0
?•> 1 3 -.6
2.6 -7 -7 14
37 1 0 -?9 83
9 -1 0
2.1 -1 5
2
-1.7
15
1.7
19
1.6
.9
23
.3
Wholesale trade:
Gross output
Intermediate inputs
Gross product
18
2.3
16
27
2.6
27
34
36
33
1 -1
99 1.9
-9 -1 0
16
2.5
11
Retail trade:
Gross output
Intermediate inputs
Gross product
15
2.1
1?
16
25
11
11
1
.1
?9 ?•) 2.5
0 -13 -1.1
.9
2.5
0
Finance, insurance, and real estate l
3.7
2.1
6.6
2.9
5.0
4.1
Services l
36
38
30
34
3<S
3.4
Government '
3.1
3.1
33
31
2.7
3.1
Addenda:
Private goods-producing industries 2:
Gross output
Intermediate inputs
Gross product
Private services-producing
industries 1 3
15
12
21
12
18
4
?4
39
3
1?
3
PS
-5
-5
-6
11
13
9
2.6
2.4
3.5
1.6
2.5
2.5
1. Gross product price index. Estimates for gross output and for intermediate inputs are not
shown for this industry group, because data are not available. See footnote 11 in the text.
2. Consists of agriculture, forestry, and fishing; mining; construction; and manufacturing.
3. Consists of transportation and public utilities; wholesale trade; retail trade; finance, insurance, and real estate; and services.
3O • November 1998
SURVEY OF CURRENT BUSINESS
For those industries for which the GPO price
index is computed using a Fisher chain-type
price-index-number formula, an industry's price
index can be used in combination with its quantity index to separate changes in cur rent-dollar
GPO into price changes and quantity changes. For
example, the 1992-97 average annual growth of
5.3 percent in cur rent-dollar manufacturing GPO
can be viewed as the product of a o.i-percent
growth in the manufacturing GPO price index
(table 6) and a 5.2-percent growth in the manufacturing GPO quantity index (table 5)—that is,
1.053 = 1.001x1.052.
The chain-type price index for gross domestic product (GDP) increased at an average annual
rate of 2.2 percent in 1992-97; private industries
increased 2.1 percent, and government increased
3.1 percent (table 6). Among the private industry groups, the GPO price index for durable
goods manufacturing declined 1.3 percent. The
increases in the GPO price indexes for all industry groups except manufacturing and retail trade
ranged from 0.3 percent for electric, gas, and
sanitary services to 4.1 percent for FIRE.
The average annual 1992-97 GPO price change
for private services-producing industries (2.5 percent) exceeded the GDP price change, and the
GPO price change for private goods-producing
industries (0.9 percent) was less than the GDP
price change. The slower growth in the index for
private goods-producing industries than in the
index for private services-producing industries
continues a trend that began in 1982. Exceptions
to this trend were in 1989 and 1996.
In 1997, the GPO price index for private industries increased 1.7 percent, slightly less than the
i.9-percent increase in the GDP price index. The
price index for manufacturing declined, as a decrease in durable goods prices was partly offset
by an increase in nondurable goods prices. The
price indexes for three other industry groups that
are involved in the distribution of goods to customers increased less than the GDP price index
or decreased: Electric, gas, and sanitary services
(1.6 percent), wholesale trade (-1.0 percent), and
retail trade (-1.1 percent). FIRE (5.0 percent) and
services (3.5 percent) were among the industry
groups for which the GPO price index increased
more than the GDP price index.13
Contributions to change.—GPO prices can be used
to assess an industry's contribution to the change
in GDP prices. This contribution depends on
13. The price indexes for FIRE and services are implicit price deflators
because of data limitations.
the industry's size relative to GDP and on the
growth rate of its GPO price index.14 In 1992-97,
the largest contributors to the change in the
GDP price index were FIRE (0.8 percentage point)
and services (0.7 percentage point), both of
which were large and rapidly growing industry
groups (table 7). Government contributed 0.4
percentage point.15 Manufacturing prices were
unchanged, so their contribution to the GDP
price change was o.o percentage point. Durable
goods manufacturing contributed -o.i percentage point; since 1995, the contribution of durable
goods manufacturing to GDP price change has
been negative, partly reflecting the rapid decline in prices for computers, digital telephone
switching equipment, and semiconductors.
14. For a description of the calculation of these contributions, see the reference in footnote 5. The procedure described in the reference was modified
to replace the chain-type quantity index with the chain-type price index.
15. The GPO price index for government is an implicit price deflator computed as current-dollar GPO divided by real (chained-dollar) GPO. For general
government, which includes most of government, current-dollar GPO consists
of compensation of employees and the consumption of fixed capital, which
measures the services of general government fixed assets. Real consumption of fixed capital is estimated by direct deflation using price indexes from
the NIPA'S. Real compensation of employees is estimated by extrapolating
base-year current-dollar values by an indicator of labor input.
Table 7.—Contributions to Percent Change in the ChainType Price Index for Real Gross Domestic Product
by Industry Group, 1993-97
1993 1994
Percent change:
Gross domestic product
2.6
Percentage points:
Private industries
1996
1997
2.4
2.3
1.9
??
1 *>
2.2
16
14
1.8
.1
-1
.1
.2
-.2
0
3
0
o
Agriculture, forestry, and fishing ....
Mining
1995
Average
annual
rate,
199297
-1
0
0
1.9
Construction
1
1
.2
.1
1
Manufacturing
Durable goods
Nondurable goods
?
1
1
.1
-2
-.3
.1
1
-?
3
-1
-?
?
Transportation and public utilities
Transportation
Communications
Electric, gas, and sanitary
services
Wholesale trade
Retail trade
n
1
.1
.1
.1 .1 0
1
.1
0
n
0
1
1 .1 0 0
1 n
o n o
9
1
2 -1 -1
-1 -1
1 .1 0
2.2
.1
o
-1
.2
.1
0
o
o
1
o
Finance, insurance, and real
estate
7
4
12
6
10
8
Services
7
7
6
7
7
7
Statistical discrepancy 1
o
4
Government
Not allocated bv industrv2
fl
0
0
o
0
o
4
.4
4
3
,4
.4
-,4
-.?
.1
-.1
1. Equals GDP measured as the sum of expenditures less gross domestic income.
2. Equals GDP less the statistical discrepancy and the sum of GPO of the detailed industries.
NOTE.—For information on the calculation of the contributions to percent change, see footnote
14 in the text.
SURVEY OF CURRENT BUSINESS
Gross output prices and intermediate inputs prices.
—Price indexes for gross output and intermediate inputs, which are presented in tables 15 and
16, are computed from detailed data on sales,
purchases, and prices using a Fisher chain-type
price-index-number formula. Like the relationship among percent changes in the chain-type
quantity indexes for GPO, gross output, and intermediate inputs, the percent change in an
industry's GPO price index depends positively on
the percent change in its gross output price index and negatively on the percent change in its
intermediate inputs price index. The weights
of these gross output and intermediate inputs
growth rates are determined by the relative levels
of an industry's cur rent-dollar gross output and
intermediate inputs.16 For example, the 1992-97
average annual decline of 4.0 percent in the GPO
price index for "pipelines, except natural gas" is
attributable to a i.4-percent decline in this industry's gross output price index and a 2.5-percent
increase in its intermediate inputs price index.
Similarly, the average annual growth of 9.0 percent in the GPO price index for instruments and
related products is attributable to a o.9-percent
increase in this industry's gross output price index and a 3.3-percent decline in its intermediate
inputs price index, partly reflecting falling prices
for semiconductor inputs.
Unit costs
The GPO chain-type price index for an industry
represents the implicit price of its primary factors of production; therefore, an industry's GPO
price index can be used in combination with
its cur rent-dollar GPO components to assess each
component's contribution to total industry labor
and capital costs.17
The GPO measures of unit costs are computed by dividing cur rent-dollar GPO and its
components by real (chained-dollar) GPO.18 The
resulting quotients are the GPO chain-type price
index and the part of the price index that is associated with each component. GPO unit-cost
measures by private industry group are presented
in table 8.19 When the percent change in the unit
cost for a component is greater than the percent
16. For the Fisher chain-type price index, these weights change each
period.
17. See the section "Composition of GPO."
18. Current-dollar cost per unit of real GPO equals the GPO price index
divided by 100.
19. These unit cost measures differ from the unit labor cost and unit
nonlabor cost series published by the Bureau of Labor Statistics (BLS) because
of differences in the definition of output. See Department of Labor, Bureau
of Labor Statistics, BLS Handbook of Methods, Bulletin 2490 (Washington, DC:
U.S. Government Printing Office, April 1997).
November 1998 • 31
change in the GPO price index, the relative importance of that component in the industry cost
structure has increased. Percent changes in unit
costs by private industry group are presented in
table 9.
The cost per unit of GPO for private industries
increased 2.1 percent in 1992-97. Compensation
Table 8.—Current-Dollar Cost Per Unit of Real Gross
Product Originating by Private Industry Group, 1992-97
[Dollars]
1992
1993
1994
1995
1996
1997
1.000
1.025
1.043
1.070
1.090
1.108
.543
.556
.559
.572
.579
.592
095
097
099
098
099
097
.362
.371
.386
.400
.412
.419
Agriculture, forestry, and fishing
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
1.000
1.037
1.001
1.031
1.141
1.032
.273
.321
.292
.349
.347
.329
.053
.058
.054
.064
.062
.058
674
658
655
618
732
645
Mining
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
. .
1.000
Total
Compensation of
employees
Indirect business tax and
nontax liability
Property-type income
.925
.318
.919
.306
1.105
1.097
.353
.981
.335
.327
.328
.116
.110
.102
.094
.107
099
531
536
505
519
671
670
Construction
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
1.000
1.035
1.076
1.126
1.162
1.198
.691
.705
.729
.761
.778
.829
.024
345
Manufacturing
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
1000
.680
.022
.023
.023
.024
.024
287
307
324
341
360
042
.278
1 014 1019
.684
.664
.042
.288
.316
040
Durable goods
. .. .
Compensation of employees
Indirect business tax and
nontax liability
Property-type income
1 000 1 012 1 012
1008
.640
1 012 1007
.641
.641
.037
.331
.038
.333
.330
979
036
935
.766
.755
.725
.692
.959
.666
.651
.026
.026
024
.023
.023
022
208
231
262
264
270
262
Nondurable goods
Compensation of employees
Indirect business tax and
nontax liability
Property-type income
1.000
1.017
1.029
1.047
1.083
1.107
.580
.597
.585
.571
.602
.618
060
062
059
056
059
058
.360
.359
.384
.420
.422
.431
Transportation and public utilities ...
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
1.000
1.018
1.025
1.041
1.037
1.050
.454
.455
.455
.467
.458
.472
.445
.462
.467
.104
.470
.480
.474
Wholesale trade
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
1.000
1.016
1.043
1.078
1.068
.588
.588
.579
.606
.595
1058
.584
.227
.185
.238
.191
.248
.216
.252
.220
.245
.228
.229
.245
Retail trade
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
1.000
1.012
1.024
1.023
1.011
.610
.609
.608
.611
.600
.999
.591
.185
.206
.188
.215
.189
.226
.192
.220
.190
.221
.184
.224
Finance, insurance and real estate
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
1.000
1.037
1.059
1.129
1.163
1.221
.242
.256
.259
.269
.284
.299
.142
.616
.146
.636
.148
.651
.147
.713
.150
.729
.149
.773
Services
.. .
Compensation of employees
Indirect business tax and nontax
liability
Prooertv-tvoe income
1 000 1 036
101
101
104
099
104
1 145 1 185
1 075
1.107
.716
.749
.773
.805
.832
025
027
028
029
029
.260
.274
.028
.274
.284
.292
.259
.864
NOTE.—Current-dollar cost per unit of real gross product originating (GPO) equals the GPO
price index divided by 100.
SURVEY OF CURRENT BUSINESS
32 • November-1998
of employees per unit of GPO (unit labor costs)
increased 1.7 percent. Unit costs for indirect
business tax and nontax liability increased 0.4
percent, and unit costs for property-type income
increased 3.0 percent. The larger increase in the
unit costs for property-type income indicates that
Table 9.—Percent Changes in Current-Dollar Cost Per Unit
of Real Gross Product Originating for Private Industry
Groups, 1993-1997
1993 1994 1995 1996
Total
Compensation of employees
Indirect business tax and
nontax liability
Property-type income
Agriculture, forestry, and fishing
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
Mining
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
?s
1997
2.4
18
.5
2.5
2.4
19
1.3
2.1
2.5
2.1
4.0
-.7
3.6
.5
3.1
-1.3
3.1 10.7
-.5
-9.6
-5.1
3.7 -3.5
17.6
-9.0
19.6
1.7
2.1
1.8
9 4 -69 187 -39 -65
-?4 -5 -5.6 185 -12.0
-1 9 -57
-5.1
-5.1
-7 ?0?
6.8
-4.0
-.7
.4
Average
annual
rate of
change,
199297
2.1
1.7
.4
3.0
.6
3.8
18
-.9
1.9
-1.5
-5? -73 -8.0 143
9 -58 2.9 ?9?
-7.8
-.2
-31
4.8
Construction
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
35
?0
40
34
4.7
45
31
??
3.2
66
3.7
37
45
70
0
55
3.6
5.4
-1
54
3.0
-4.2
1.8
3.8
Manufacturing
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
*> -1.1
1.4
.6 -2.9 -3.6
3
.2
n
fi
ft
-5.4
-33 -?1
-2.5
-2.3
-1.3
-3.2
-4.2
-3.3
-29
2.1
2.6
47
2.0
1.3
47
7
-.8
1.9
-7
3.7
.7
1.6 -.4
2.7 -1 8
1.3
3.0
1.0
.8
30
11
6 -5?
.7 ?1
5.1
-1.2
.6
1.3
16 ?7
0 -1.5
33 -9
4.6 -1.8
-1.0
-1.8
1.1
-.1
4 8 4?
3.2 13.1
1 3 -?5
2.3 3.3
-6.7
.2
5.8
0
-1.1
-1.5
0
-.6
-2.9
Durable goods
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
Nondurable goods
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
Transportation and public utilities
Compensation of employees ...
Indirect business tax and nontax
liability
Property-type income
Wholesale trade
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
36
1?
-1.4
-48 -6.0
97 4 8
0
-4.0
-4.6
-3.8
0 -77 -4.9 -1 6
7 ?4
11 1 134
1 7 1 1 1.8 35
2.9 -2.0 -2.4
5.5
33 -48 -55
-3 70 9?
1.8
?
n
38
0
-.5
-.1
-10
7.4
.1
-1.2
-3.0
35
capital costs became a larger part of GPO unit
costs during the period—that is, the return to
capital per unit of gross product increased.
By industry, unit labor costs declined in four
private industry groups: Mining, durable goods
manufacturing, wholesale trade, and retail trade.
Unit labor costs increased in all the other private industry groups. In agriculture^ forestry, and
fishing, in FIRE, and in services, the increases in
unit labor costs were larger than the increases in
total unit costs.
The largest declines in unit labor costs were in
industry groups engaged in the production and
distribution of goods. In manufacturing, unit labor costs declined at an average annual rate of
1.2 percent, compared with a o.i-percent increase
in total unit costs. Unit labor costs in durable
goods manufacturing declined 3.2 percent, while
total unit costs declined 1.3 percent. In transportation and public utilities, the percent changes
in unit labor costs were smaller than the percent
changes in total unit costs; in wholesale trade,
unit labor costs declined, while total unit costs
increased; and in retail trade, unit labor costs
declined, while total unit costs were unchanged.
In 1997, unit labor costs increased 2.1 percent
in all private industries, while total unit costs increased 1.7 percent. Unit labor costs increased
in all private industry groups except agriculture,
forestry, and fishing; durable goods manufacturing; wholesale trade; and retail trade. Unit
labor costs in manufacturing declined o.i percent:
Durable goods manufacturing fell 2.3 percent,
marking the fifth consecutive year that unit labor
costs fell in this industry group, but nondurable
goods manufacturing increased. The largest increases in unit labor costs were in construction,
FIRE, and services. In construction, unit labor
costs rose faster than total unit costs for the first
time since 1992, while unit costs for propertytype income decreased (4.2 percent) for the first
time since 1992.
Changes in the Methodology
Retail trade
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
1?
-.2
11
-.2
16
44
*> 15 -1 ?
4
51 -2.6
1.4
-1
1.7
Finance, insurance, and real estate ....
Compensation of employees
Indirect business tax and nontax
liability
Property-type income
3.7
58
2.1
1?
6.6
39
2.9
55
5.0
5.3
4.1
4.3
?8
3?
14 -1.0
?4 9.5
19
??
-4
6.0
1.0
4.6
NIPA sources
3fi
4.6
38
3.2
30
4.2
34
3.3
35
3.9
3.4
3.8
The GPO estimates incorporate several changes
in methodology from the annual revision of the
80
.4
37
5.4
15
.1
33
3.5
2
2.6
3.0
2.4
Services
Compensation of employees
Indirect business tax and nontax
liability
Prooertv-tvoe income
-13
.5 -1.9
This section of the article describes changes in
source data and estimating methods that affect
the GPO estimates.20
20. For a detailed description of the GPO methodology, see Yuskavage,
"Improved Estimates," 143-149.
SURVEY OF CURRENT BUSINESS
NIPA'S released in July 1998. These changes include an improved adjustment to remove capital
gains from the trading-account activity of security brokers and dealers, and new gross output
price measures for several services components of
personal consumption expenditures (pcs).21 The
capital gains adjustment affected the estimates
of current-dollar GPO and gross output of security and commodity brokers. The new PCE price
measures incorporated the new geometric-meantype consumer price indexes from the Bureau of
Labor Statistics (BLS). These new PCE deflators
affected the estimates of gross output and prices.
For example, the PCE price index for "auto rental,
leasing, and other," which now incorporates the
BLS prices at a more detailed level, was used to
21. See Seskin, "Annual Revision of the National Income and Product
Accounts," 20 and 31.
November 1998 • 33
derive real gross output estimates for the auto
repair, services, and parking industry.
GPO sources
The GPO estimates of real gross output and real
intermediate inputs incorporate BEA'S price indexes for semiconductors and extend them to
1997 using producer price indexes from BLS.22 For
digital telephone-switching equipment, the BEA
price index was extended to 1997 using the price
index developed for the NIPA'S. The new price index that was developed for PCE cellular telephone
services was used to separately deflate cellular
telephone services in the telephone and telegraph
industry.
Tables 10 through 16 follow. £3
22. Semiconductor prices also affect exports and imports in the NIPA'S.
SURVEY OF CURRENT BUSINESS
34 • November 1998
Table 10.—Gross Domestic Product by Industry in Current Dollars and As a Percentage of Gross Domestic Product, 1992-97
Billions of dollars
Percent
Line
1992
1
2
3
4
5
Gross domestic product
Private industries
Agriculture, forestry, and fishing
Farms
Agricultural services, forestry, and fishing
6
7
8
9
10
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals except fuels
11
Construction
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products ....
Tobacco products
Textile mill products
Apparel ana other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics products
Leather and leather products
36
37
38
39
40
41
42
43
44
45
46
47
48
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
Transportation services
. .
Communications
Telephone and telegraph
.
.
Radio and television ;
Electric gas and sanitary services
1992
1993
1994
1995
1996
1997
6,947.0
7,269.6
7,661.6
8,110.9
100.0
100.0
100.0
100.0
100.0
100.0
5,370.8
5,655.4
6,013.5
6,306.9
6,667.9
7,083.3
86.0
86.2
86.6
86.8
87.0
87.3
112.4
106.1
119.2
109.5
130.4
131.7
80.5
31.9
73.0
33.1
83.5
35.7
72.3
37.2
91.6
38.8
41.5
92.2
94.6
94.9
98.7
113.8
6.1
120.5
5.8
12.9
84.3
10.4
13.2
90.1
11.4
5.0
12.4
69.1
5.9
13.1
66.7
6.7
12.0
70.5
8.2
8.1
9.2
9.4
229.7
242.4
268.7
286.4
1,063.6
573.4
1,116.5
615.7
1,216.1
679.2
1,282.2
711.6
32.0
16.2
25.1
39.0
70.1
34.6
17.7
25.1
42.0
73.7
38.4
18.5
28.8
46.3
84.2
40.9
19.4
30.2
51.7
108.6
110.9
114.6
122.3
132.9
20.1
71.5
53.5
50.9
21.1
490.3
102.1
18.4
25.4
27.2
45.8
79.7
311.9
1,309.1
737.3
90.2
328.8
1,378.9
784.0
42.8
22.1
33.7
87.6
39.1
20.5
31.3
51.5
93.1
141.5
136.7
148.8
141.6
158.9
157.3
87.4
49.5
48.7
22.2
85.2
82.4
46.1
49.1
23.3
49.0
55.5
24.6
85.4
50.7
55.9
24.8
500.8
103.2
536.9
109.6
570.5
123.2
571.8
116.0
594.9
118.5
15.2
25.5
27.4
47.7
80.0
16.3
25.4
28.2
51.3
86.0
17.3
24.5
27.4
58.9
84.7
17.0
24.7
26.7
56.6
92.4
18.4
25.5
28.4
120.5
124.6
140.6
156.1
155.8
158.8
28.2
38.1
31.3
41.3
30.4
44.4
28.3
44.9
29.6
48.6
35.2
52.0
98.6
52.8
56.5
54.2
53.2
99.3
55.0
98.4
4.8
4.5
4.7
5.2
4.4
4.8
528.7
192.8
561.7
203.3
598.7
219.9
616.4
226.1
649.3
237.0
676.3
255.5
22.1
10.9
82.2
10.3
43.0
22.1
11.2
87.0
10.1
47.8
24.2
11.4
95.0
10.9
51.7
22.9
12.2
98.0
10.9
53.9
23.4
13.0
92.9
11.7
65.2
24.1
13.8
97.9
12.8
74.4
1.8
1.3
.5
1.6
1.1
.5
1.7
1.2
.5
1.5
1.0
1.7
1.2
.5
1.6
1.1
.5
1.5
.1
.2
1.0
.1
1.4
.1
.2
1.1
.1
1.4
.1
.2
1.0
.1
1.4
.1
.2
1.0
.1
1.5
.1
.2
1.1
.1
1.5
.1
.2
1.1
.1
3.7
17.0
9.7
.5
.3
.4
.7
1.2
2.0
1.9
1.1
.6
.7
.3
7.3
1.5
.2
.3
.4
.7
1.2
2.0
.4
.6
.1
8.6
3.1
.3
.2
1.3
.2
.7
.1
.3
2.7
2.1
.6
2.8
8.6
3.2
.3
.2
1.4
.2
.7
.1
.3
2.7
2.0
.6
2.8
8.5
3.1
.3
.2
1.3
.1
.7
.1
.3
2.7
2.0
.7
2.7
8.5
3.1
.3
.2
1.2
.2
.9
.1
.3
2.7
2.0
.7
2.7
8.3
3.2
.3
.2
1.2
.2
.9
.1
.3
2.6
2.0
.7
2.6
42.5
48.1
50.4
53.1
194.2
197.0
204.9
209.2
5.6
25.5
26.8
207.5
157.0
211.6
158.6
4.1
17.0
9.6
.5
.3
.4
.7
1.2
1.9
1.8
1.1
.6
.7
.3
7.5
1.5
.2
.3
.3
.7
1.2
2.0
.4
.6
.1
41.0
5.2
23.2
193.3
145.2
4.1
17.1
9.8
.6
.3
.4
.7
1.2
1.9
1.9
1.2
.6
.7
.3
7.8
1.7
.2
.3
.4
.8
1.2
2.1
.4
.6
.1
182.8
4.9
22.1
184.6
142.1
3.9
17.6
9.8
.6
.3
.4
.7
1.2
1.8
1.9
1.3
.7
.7
.3
7.7
1.6
.2
.4
.4
.7
1.2
2.0
.4
.6
.1
31.5
4.6
20.3
175.6
134.6
3.9
17.5
9.4
.5
.3
.4
.6
1.1
1.7
1.7
1.1
.8
.8
.3
7.6
1.6
.2
.4
.4
.7
1.2
1.9
.5
.6
.1
174.7
4.8
19.6
161.1
129.7
3.7
17.0
9.2
.5
.3
.4
.6
1.1
1.7
1.6
.8
.9
.9
.3
7.9
1.6
.3
.4
.4
.7
1.3
1.9
.5
.6
.1
8.5
3.1
.4
.2
1.3
.2
.7
.1
.3
2.6
2.1
.5
2.8
4.9
. . . .
1997
1996
6,558.1
5.5
. . .
1995
6,244.4
13.6
65.0
. . .
1994
1993
49
Wholesale trade
406.4
423.3
468.0
491.4
519.8
562.8
6.5
6.5
6.7
6.8
6.8
6.9
50
Retail trade
544.3
573.2
615.3
641.0
673.0
712.9
8.7
8.7
8.9
8.8
8.8
8.8
51
52
53
54
55
56
57
58
59
60
Finance insurance and real estate
Depository institutions
Nondepository institutions
Security and commodity brokers
Insurance carriers
Insurance agents brokers and service
Real estate
Nonfarm housing services
Other real estate
Holding and other investment offices
1,147.9
200.1
1,218.1
203.0
1,267.6
207.4
1,362.3
229.1
1,448.6
240.6
1,570.3
266.4
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
Services
Hotels and other lodging places
Personal services
Business services
Auto repair services and parking
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
Legal services
Educational services
Social services
Membership organizations
.
Other services
Private households
76
Statistical discrepancy!
77
Government
.
.
. .
28.3
49.5
83.4
39.5
734.9
553.5
181.4
12.3
1,200.8
.
.
37.6
63.9
106.6
36.1
78.5
108.8
39.7
73.4
118.5
44.3
96.5
122.0
56.3
106.6
146.0
41.5
45.0
46.7
48.0
50.7
802.9
607.3
195.6
-11.1
843.8
643.1
200.7
892.2
675.8
216.4
5.1
935.0
712.7
222.4
9.4
11.8
1,267.0
1,350.4
1,445.4
1,544.2
1,656.8
19.2
11.0
53.8
44.3
57.4
45.8
61.3
47.4
65.6
47.8
69.0
51.5
218.9
233.5
256.0
284.9
322.1
364.7
51.1
17.5
20.0
47.9
54.3
19.0
23.4
59.3
19.2
47.8
63.6
20.5
26.3
56.6
68.3
21.7
28.4
61.3
73.3
23.2
23.0
51.4
369.1
386.6
410.2
428.9
90.1
46.3
36.9
38.9
91.6
48.9
39.8
42.2
93.8
52.3
43.2
96.6
55.3
46.4
445.5
100.7
460.1
106.6
45.1
47.0
58.1
49.0
49.2
61.5
52.2
50.8
162.2
171.1
182.6
198.8
214.6
234.6
10.1
10.7
11.0
11.8
11.9
12.0
44.8
52.6
14.6
-26.5
-32.2
-55.8
873.6
902.7
933.5
962.7
993.7
1,027.6
30.5
66.7
78
79
80
Federal
General government
Government enterprises
321.4
274.4
323.4
276.9
324.9
275.2
327.7
275.4
334.8
279.2
338.1
281.3
47.0
46.5
49.7
52.3
55.5
56.8
81
82
83
State and local
General government
Government enterprises
552.2
506.6
579.3
531.6
608.6
557.5
6350
582.2
658.9
604.4
689.6
631.7
45.6
47.6
51.1
52.8
54.5
57.9
3.2
.5
.8
1.3
.6
759.0
568.7
190.2
6.7
51.0
41.0
1. Equals GDP measured as the sum of expenditures less gross domestic income.
18.4
8.9
2.9
.2
.8
.7
3.5
.8
.3
.3
.8
5.9
1.4
.7
.6
.6
2.6
.2
.7
14.0
18.6
3.1
.6
1.0
1.6
.6
11.6
8.7
2.9
.1
19.3
.8
.7
3.6
.8
.3
.4
.7
5.9
1.4
.7
.6
.6
2.6
.2
.8
13.8
18.2
3.0
.5
1.1
1.6
.6
11.6
8.7
2.8
-.2
19.4
.8
.7
3.7
.9
.3
.3
.7
5.9
1.4
.8
.6
.6
2.6
.2
.2
13.4
18.7
3.2
.5
1.0
1.6
.6
11.6
8.8
2.8
.2
19.9
.8
.7
3.9
.9
.3
.4
.8
5.9
1.3
.8
.6
.6
2.7
.2
-.4
13.2
18.9
3.1
.6
1.3
1.6
.6
11.6
8.8
2.8
.1
20.2
.9
.6
4.2
.9
.3
.4
.8
5.8
1.3
.8
.6
.6
2.8
.2
-.4
13.0
19.4
3.3
.7
1.3
1.8
.6
11.5
8.8
2.7
.1
20.4
.9
.6
4.5
.9
.3
.4
.8
5.7
1.3
.8
.6
.6
2.9
.1
-.7
12.7
5.1
4.4
.8
4.9
4.2
.7
4.7
4.0
.7
4.5
3.8
.7
4.4
3.6
.7
4.2
3.5
.7
8.8
8.1
.7
8.8
8.1
.7
8.8
8.0
.7
8.7
8.0
.7
8.6
7.9
.7
8.5
7.8
.7
SURVEY OF CURRENT BUSINESS
November
35
Table 11.—Components of Gross Product and As a Percentage of Gross Domestic Product by Industry Group, 1992-97
1992
1
2
3
4
5
6
7
8
9
10
Percent
Billions of current dollars
Line
Gross domestic product
Compensation of employees
Indirect business tax and nontax liabilities
Property-type income
Statistical discrepancy '
....
44.8
Private industries
Compensation of employees
Indirect business tax and nontax liabilities
Property-type income
Statistical discrepancy '
11
12
13
14
Agriculture forestry and fishing
Compensation of employees
Indirect business tax and nontax liabilities
Prooertv-tvoe income
15
16
17
18
Mining
.
Compensation of employees
Indirect business tax and nontax liabilities
Property-type income
.
19
20
21
22
Construction
Compensation of employees
Indirect business tax and nontax liabilities
Property-type income
23
24
25
26
Manufacturing
Compensation of employees
Indirect business tax and nontax liabilities
Property-type income
6,244.4
3,645.0
505.6
2,049.0
5,370.8
2,893.2
505.6
1,927.2
...
6,558.1
3,817.0
532.5
2,156.0
52.6
5,655.4
3,041.2
532.5
2,029.1
1994
1995
1996
1997
1992
1994
1993
1995
1996
1997
6,947.0
4,014.5
568,5
2,349.4
1.4.6
7,269.6
4,211.6
581.2
2,503.3
-26.5
7,661.6
4,411.8
606.4
2,675.6
-32.2
8,110.9
4,690.3
627.2
2,849.2
-55.8
100.0
100.0
100.0
100.0
100.0
100.0
58.4
58.2
57.8
57.9
57.6
57.8
6,013.5
3,213.8
568.5
2,216.6
6,306.9
3,388.0
581.2
2,364.2
-26.5
6,667.9
3,563.3
606.4
2,530.4
-32.2
7,083.3
3,812.9
627.2
2,699.0
-55.8
.8
.9
8.1
32.*
8.1
32.9
8.2
33.J
8.0
34.5
7.9
34.9
7.7
35.2
.8
.2
—A
-A
-.7
100.0
100.0
100.0
100.0
100.0
100.0
53.9
53.8
53.4
53.7
53.4
9.4
35.9
9.4
35.9
9.5
36.9
9.2
37.5
9.1
38.0
53.8
8.9
38.1
-8
44.8
52.6
14.6
112.4
106.1
119.2
109.5
130.4
131.7
100.0
100.0
100.0
100.0
100.0
100.0
30.7
32.9
34.8
37.1
39.7
42.1
27.3
31.0
29.2
33.9
30.4
32.0
6.0
....
1993
5.9
6.5
75.7
67.3
77.9
92.2
32.5
10.7
94.9
32.7
10.4
49.0
94.6
32.3
10.6
51.7
229.7
158.7
5.0
66.0
1,063.6
723.4
6.8
7.1
7.4
5.3
5.6
5.5
6.2
5.4
5.6
65.6
83.6
82.2
67.4
63.4
65.3
59.9
64.2
62.4
98.7
113.8
120.5
100.0
100.0
100.0
100.0
100.0
100.0
33.6
11.0
69.2
36.0
10.8
73.7
35.2
11.6
53.2
34.1
11.2
54.7
34.5
11.0
54.5
33.3
10.2
56.5
29.5
29.9
51.8
32.9
10.1
55.7
60.8
61.1
242.4
165.2
5.3
268.7
182.0
5.7
286.4
193.6
6.0
311.9
208.9
6.3
328.8
227.6
6.6
100.0
100.0
100.0
100.0
100.0
100.0
69.1
68.2
67.7
67.6
67.0
71.9
81.0
86.8
96.7
94.6
28.7
29.6
30.2
30.3
31.0
28.8
100.0
100.0
100.0
100.0
100.0
iOO.O
68.0
67.5
65.1
63.5
63.4
1,116.5
753.3
1,216.1
792.0
1,282.2
813.9
1,309.1
829.6
1,378.9
877.6
2.2
4.2
2.2
4.1
2.1
3.9
2.1
3.7
9.7
2.0
3.7
9.0
69.2
2.0
63.6
3.6
44.6
46.0
47.4
47.5
48.6
49.7
295.6
317.2
376.7
420.8
430.9
451.6
27.8
28.4
31.0
32.8
32.9
32.8
100.0
100.0
100.0
100.0
100.0
100.0
76.6
74.6
71.7
70.7
69.4
27
28
29
30
Durable goods
Compensation of employees
Indirect business tax and nontax liabilities
Property-type income
573.4
439.1
615.7
459.5
679.2
486.8
711.6
502.8
737.3
511.9
784.0
545.6
15.0
15.6
16.4
16.8
17.5
18.3
119.3
140.6
176.0
192.0
207.9
220.1
20.8
22.9
25.9
26.9
28.2
28.1
31
32
33
34
Nondurable goods
Compensation of employees
',
Indirect business tax and 'nontax liabilities
Property-type income
.
490.3
284.3
500.8
293.8
536.9
305.2
570.5
311.1
571.8
317.7
594.9
332.1
100.0
100.0
100.0
100.0
100.0
100.0
58.0
58.7
56.8
54.5
55.6
29,6
30.4
31.0
30.6
31.1
31.4
176.4
176.6
200.7
228.8
223.0
231.4
36.0
35.2
37.4
40.1
39.0
38.9
35
36
37
38
Transportation and public utilities
Compensation of employees
Indirect business tax and nontax liabilities . .
Property-type income
528.7
240.0
561.7
251.3
598.7
265.6
616.4
276.4
649.3
287.0
676.3
304.2
100.0
100.0
100.0
100.0
100.0
100.0
61.7
61.9
66.9
235.3
254.8
272.6
278.3
300.4
305.2
45.4
44.8
10.0
45.2
45.0
60.5
44.4
10.1
45.5
44.2
55.6
45.4
10.1
44.5
44.7
53.4
46.3
45.1
39
40
41
42
Wholesale trade
Compensation of employees
Indirect business tax and nontax liabilities
Property-type income
406.4
239.1
423.3
244.7
519.8
289.4
119.4
111.0
562.8
310.7
121.7
130.4
100.0
100.0
100.0
100.0
58.8
22.7
18.5
57.8
23.4
18.8
55.5
23.8
20.7
56.2
23.3
20.5
55.7
96.8
491.4
276.1
114.7
100.6
100.0
99.0
79.6
468.0
259.8
111.4
100.0
92.1
75.2
23.0
21.3
55.2
21.6
23.2
43
44
45
46
Retail trade
Compensation of employees
. .
Indirect business tax and nontax liabilities
Property-type income
. .
544.3
331.8
100.6
111.9
573.2
344.7
106.5
122.0
615.3
365.7
113.9
135.7
641.0
382.9
120.4
137.7
673.0
399.5
126.4
147.1
712.9
421.5
131.5
159.9
100.0
100.0
100.0
100.0
100.0
100.0
61.0
18.5
20.5
60.1
18.6
21.3
59.4
18.5
22.1
59.7
18.8
21.5
59.4
18.8
21.8
59.1
18.4
22.5
47
48
49
50
Finance insurance and real estate
Compensation of employees
Indirect business tax and nontax liabilities
Property-type income
1,147.9
277.2
163.6
707.1
1,218.1
300.5
171.0
746.6
1,267.6
310.2
177.6
779.8
1,362.3
324.7
177.1
860.5
1,448.6
353.8
186.4
908.4
1,570.3
384.6
191.5
994.2
100.0
100.0
100.0
100.0
100.0
100.0
24.1
14.3
61.6
24.7
14.0
61.3
24.5
14.0
61.5
23.8
13.0
63.2
24.4
12.9
62.7
24.5
12.2
63.3
51
52
53
54
Services
Compensation of employees
...
Indirect business tax and nontax liabilities
Property-type income
1,200.8
859.8
1,267.0
916.3
1,350.4
971.0
1,445.4
1,050.5
1,544.2
1,121.8
1,656.8
1,208.6
100.0
100.0
100.0
100.0
100.0
100.0
71.6
72.3
71.9
72.7
72.6
55
56
57
58
Government
Compensation of employees
Indirect business tax and nontax liabilities
Property-type income
.".
.
.
29.6
32.6
35.0
36.9
39.4
41.0
311.4
318.1
344.4
358.0
383.0
407.2
873.6
751.9
0
121.7
902.7
775.8
0
126.9
933.5
800.7
0
132.8
962.7
823.6
0
139.1
993.7
848.5
0
145.2
1,027.6
877.5
0
150.1
1. Equals GDP measured as the sum of expenditures less gross domestic income.
2.6
6.0
2.5
2.5
6.1
9.9
2.6
2.4
5.8
2.6
2.4
5.4
2.6
2.4
5.4
9.5
2.6
69.6
2.3
55.8
5.3
9.9
72.9
2.5
25.9
25.1
25.5
24.7
24.8
24.6
100.0
100.0
100.0
100.0
100.0
100.0
86.1
85.9
85.8
85.6
85.4
85.4
0
0
0
0
0
0
13.9
14.1
14.2
14.4
14.6
14.6
36 • November 1998
SURVEY OF CURRENT BUSINESS
Table 12.—Chain-Type Quantity and Price Indexes for Gross Domestic Product by Industry, 1992-97
Quantity indexes (1992=1 00)
Price indexes (1992=100)
Line
1
Gross domestic product
Private industries . . . .
1992
1993
1994
1995
1996
1997
1992
1993
1994
1995
1996
1997
100.00
102.32
105.87
108.28
112.02
116.42
100.00
102.64
105.09
107.51
109.53
111.57
100.00
102.73
107.31
109.79
113.95
119.07
100.00
102.50
104.34
106.96
108.95
110.76
Agriculture, forestry, and fishing
Farms
Agricultural services forestry and fishing
100.00
100.00
100.00
91.06
88.13
98.97
106.02
105.49
109.55
94.48
89.49
108.70
101.67
97.60
113.59
113.59
112.15
119.17
100.00
100.00
100.00
103.70
102.96
104.84
100.08
98.34
102.29
103.14
100.35
107.42
114.13
116.63
107.08
103.21
99.93
109.31
6
7
8
9
10
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals except fuels
100.00
100.00
100.00
100.00
100.00
104.46
102.06
102.07
105.50
101.35
111.16
103.53
114.13
111.07
112.49
116.48
99.94
113.33
119.02
113.54
111.63
103.45
126.89
108.53
124.81
119.10
113.31
133.30
115.92
132.47
100.00
100.00
100.00
100.00
100.00
98.14
89.03
89.57
100.76
97.27
92.52
104.13
84.72
92.33
99.63
91.90
123.21
78.38
91.12
101.52
110.49
108.35
75.10
119.47
101.83
109.69
93.95
73.08
119.49
105.14
11
Construction
119.84
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone clay and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products
Tobacco products .
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics products
Leather and leather products
36
37
38
39
40
41
42
43
44
45
46
47
48
2
3
4
5
.
.
100.00
102.03
108.76
110.70
116.91
119.47
100.00
103.45
107.58
112.65
116.16
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
103.50
106.10
89.15
110.23
97.60
110.70
104.75
105.91
120.00
126.17
92.51
89.74
101.83
100.46
101.62
87.88
102.13
100.14
109.44
94.39
100.12
98.56
108.33
93.61
112.18
117.08
93.13
111.25
107.59
115.42
120.69
121.08
147.85
147.61
84.19
83.19
106.84
106.47
104.24
121.46
107.52
104.23
113.75
97.80
108.93
97.87
119.18
93.48
119.55
126.80
99.08
115.14
108.58
113.01
125.36
149.93
181.28
146.95
76.60
77.37
113.34
111.18
123.12
129.52
103.92
105.08
96.86
96.74
115.89
107.86
123.53
99.47
121.64
134.12
98.06
115.06
110.16
120.37
126.53
168.60
216.22
138.57
77.67
74.13
115.45
107.66
103.47
122.29
100.51
99.24
101.30
95.48
116.43
114.61
130.01
86.69
128.79
146.26
103.23
121.37
117.03
123.04
132.68
198.04
264.94
147.20
77.94
66.88
114.59
109.65
104.48
116.16
101.20
103.66
106.74
96.17
117.23
114.85
140.99
91.13
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
101.42
101.21
121.37
98.98
102.72
97.34
100.41
96.42
96.83
107.27
102.26
104.52
102.83
101.70
99.46
93.98
98.15
100.75
95.05
106.31
103.35
112.66
100.05
101.75
101.92
101.17
128.93
102.80
106.65
102.76
99.63
92.98
91.18
111.98
103.91
107.96
103.04
102.86
102.91
72.93
92.92
99.65
98.48
110.27
107.16
109.98
97.75
105.72
100.83
97.88
128.87
103.77
110.99
117.39
99.73
86.84
76.47
109.72
106.46
116.92
102.13
104.67
97.93
72.68
92.88
95.84
132.74
109.75
111.82
93.08
95.49
109.40
101.18
100.66
95.87
93.48
124.51
129.37
112.41
109.80
113.22
114.67
109.80
110.86
105.02
106.79
81.24
73.85
60.21
66.40
112.48
109.75
111.61
115.04
137.96
154.09
105.57
107.62
108.34
110.67
109.73
111.01
75.73
86.30
96.77
99.21
99.13
100.78
121.83
112.42
121.32
128.28
111.10 - 112.46
91.59
108.56
98.05
96.73
106.82
109.34
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
.
Pipelines, except natural gas
Transportation services
Communications
Telephone and telegraph
Radio and television
Electric gas and sanitary services
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
104.40
104.29
104.35
100.68
104.88
102.39
102.88
107.05
107.35
106.65
103.01
121.20
102.45
110.50
111.17
117.35
101.45
108.02
104.79
119.67
98.51
110.74
109.78
106.36
123.45
110.49
112.02
112.09
118.15
105.02
108.44
106.59
117.68
100.38
118.36
112.14
106.88
132.83
111.91
118.48
119.12
127.62
103.93
105.25
104.20
147.70
129.44
122.60
118.82
117.49
125.69
117.48
121.88
125.25
127.72
104.15
106.24
107.19
168.95
140.37
128.53
121.92
123.88
118.63
118.04
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
101.76
101.12
95.98
101.95
100.96
96.14
108.15
92.57
96.65
102.17
100.78
107.44
102.11
102.49
102.60
93.51
103.38
107.01
100.86
100.57
95.69
102.12
104.38
103.06
109.43
100.57
104.09
104.61
87.99
106.44
109.97
99.88
106.56
100.33
100.37
107.00
104.76
115.21
100.77
103.67
103.19
83.21
115.12
107.40
109.09
102.77
82.87
106.47
108.37
103.08
127.51
99.79
104.97
105.80
85.69
122.03
112.21
116.38
102.50
81.37
106.45
107.73
98.70
142.20
101.42
49
Wholesale trade
100.00
102.48
110.37
112.14
119.73
130.90
100.00
101.62
104.34
107.82
106.82
105.78
50
Retail trade
100.00
104.02
110.44
115.07
122.34
131.09
100.00
101.24
102.36
102.35
101.07
99.91
51
52
53
54
55
56
57
58
59
60
Finance insurance, and real estate
Depository institutions
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
102.30
99.25
113.83
132.00
109.75
100.61
100.25
99.80
101.59
104.72
104.27
98.45
119.75
167.57
109.50
105.46
103.20
103.59
102.00
105.15
105.08
96.66
115.06
158.38
109.37
106.59
105.69
106.32
103.75
102.57
108.55
95.96
124.94
210.29
105.08
105.78
108.79
108.40
110.08
101.72
112.03
95.91
138.76
243.32
112.19
109.32
110.88
111.32
109.54
99.14
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
103.73
102.18
116.64
97.74
116.51
104.49
103.03
102.96
103.22
51.86
105.91
105.25
106.32
94.69
119.19
108.21
105.88
105.93
105.72
-85.81
112.94
118.46
121.89
93.65
129.97
111.00
108.65
109.30
106.63
87.55
116.26
125.29
125.00
92.72
139.32
114.97
111.60
112.64
108.37
40.77
122.11
138.79
143.23
88.47
156.08
117.52
114.75
115.68
-111.91
76.88
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
Services
Hotels and other lodoina olaces
Personal services
Business services
Auto repair services and parking
Miscellaneous repair services
Motion pictures . .
Amusement and recreation services
Health services
Legal services
Educational services
Social services
Membership organizations
Other services
Private households
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
101.89
101.62
104.02
106.99
100.03
97.50
116.08
96.12
98.96
96.73
102.75
106.05
104.76
103.44
102.52
104.64
106.64
103.90
112.89
104.33
95.54
109.29
99.12
100.17
95.45
105.84
112.92
108.11
108.15
102.91
108.70
110.23
105.59
123.95
110.54
96.27
122.16
105.39
101.14
95.10
106.01
117.77
109.35
113.27
106.98
112.34
112.87
103.50
135.08
117.77
86.67
125.98
110.09
102.25
95.40
106.74
120.98
111.35
118.85
104.40
116.47
111.42
107.72
147.60
125.94
84.01
132.97
117.30
102.69
96.46
108.89
125.55
113.39
124.14
101.11
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
103.55
103.89
103.95
99.68
106.16
111.46
100.91
103.86
105.85
105.02
102.88
101.81
103.49
102.02
103.17
107.47
105.59
107.69
103.60
111.22
114.85
105.39
108.31
110.97
109.04
106.83
103.69
107.09
104.08
106.30
110.73
109.07
109.67
105.00
112.52
121.64
108.00
112.09
114.89
112.65
112.70
106.94
110.46
108.20
109.54
114.47
113.95
112.84
108.94
113.45
142.71
112.82
116.22
118.07
117.13
117.65
109.78
113.46
111.35
113.41
118.46
121.52
116.84
112.88
113.85
157.52
114.76
118.74
121.40
122.60
122.17
112.84
115.14
116.55
117.56
Nondepository institutions
Security and commodity brokers
Insurance carriers
Insurance agents, brokers, and service
Real estate
Nonfarm housing services
Other real estate
Holding and other investment offices
.
;....
. .
. .
100.00
100.25
100.53
100.33
100.48
101.19
100.00
103.07
106.29
109.83
113.21
116.24
77
78
79
Federal
General government
Government enterprises
100.00
100.00
100.00
98.03
97.58
100.80
95.50
94.18
103.40
92.35
90.44
103.90
90.31
87.71
106.00
89.26
85.80
110.40
100.00
100.00
100.00
102.64
103.41
98.21
105.87
106.49
102.31
110.42
110.99
107.12
115.35
116.02
111.48
117.85
119.48
109.51
80
81
82
State and local
General government
Government enterprises
100.00
100.00
100.00
101.54
101.56
101.30
103.45
103.47
103.20
104.97
105.04
104.20
106.40
106.74
102.70
108.17
108.83
101.20
100.00
100.00
100.00
103.31
103.33
103.12
106.52
106.35
108.52
109.54
109.40
111.06
112.14
111.76
116.42
115.43
114.57
125.42
76
Government
SURVEY OF CURRENT BUSINESS
November
Table 13.—Real Gross Domestic Product by Industry, 1992-97
[Billions of chained (1992) dollars]
Line
Private industries
;
Agriculture, forestry, and fishing
Farms
:
,
Agricultural services, forestry, and fishing .
Mining
,
Metal mining
Coal mining •
Oil and gas extraction
Nonmetallic minerals, except fuels .
Construction
4
Manufacturing
Durable goods
Lumber and wood products .
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products ...
Industrial machinery and equipment
Electronic and other electric equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products .
Tobacco products
Textile mill products
Apparel and other textile products •
Paper and allied products ...
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics products
Leather and leather products
1994
1993 ,
1992
Gross domestic product .
1995
1996
1997
6,244.4
6,389.6
6,610.:
6,761.7
6,994.8
7,269.8
5.37Q.8
5,517.4
5,763.6
5,896.5
6,119.9
6,395.3
112.4
102.3
119.1
106.2
114.2
127.6
80,5
31,9
70.9
31.6
84.9
34.9
72.0
34.7
78.6
36.2
90.3
38.0
92.2
96.4
102.5
5.7
107.4
5.5
15.4
77.4
9.3
103.0
5.7
17.2
70.6
10.2
109.9
6.2
15.5
72.!
5.5
ia.e
65.0
5.6
13.8
68.6
9.;
18.1
75.4
8.2
8.3
229.7
234.3
249.8
254.2
268.5
274.4
1,063.6
573.4
1,100.8
608.3
1,193.2
671.3
1,271.6
727.0
1,293.8
769,0
31.4
18.6
27.6
46.9
88.6
„ 183.2
213.2
73.2
43.9
40.2
23.3
527.8
105.7
22.5
25.6
27.0
46.4
76.1
140.3
32.3
49.5
4.1
1,369.9
838.6
644.3
32.0
16.2
25.1
39.0
70.1
28.5
17.9
24.5
43.2
73.4
29.8
18.0
27.0
45.0
84.5
108.6
115.1
118.3
131.5
145.8
66.7
20.1
52.3
48.7
20.5
78.0
47.6
45.1
21.5
77.7
43.3
42.0
22.8
490.3
102.1
492.5
103.8
522.0
106.5
545.1
125.8
18.4
25.4
27.2
45.8
79.7
16.1
26.0
27.2
50.2
75.3
22.3
27.3
28.3
52.1
78.0
23.8
26.4
28.6
44.4
77.1
120.5
120.6
131.2
139.6
28.2
38.1
27.8
41.3
27.6
45.4
30.4
47.1
98.6
52.8
56.5
54.2
31.7
18.7
27.2
44.1
87.8
162.9
178.7
4.8
4.5
4.5
4.7
528.7
192.8
551.9
201.1
584.1
214.3
592.2
216.1
22.1
10.9
82.2
10.3
43.0
23.0
11.0
86.2
10.5
44.2
25.9
11.0
88.7
10.8
51.4
26.1
11.4
37
38
39
40
41
42
43
44
45
46
47
48
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing ...
Water transportation
Transportation by air
Pipelines, except natural gas
Transportation services
Communications
Telephone and telegraph ....
Radio and television
Electric, gas, and sanitary services
31.5
38.1
38.8
174.7
179.0
193.1
195.5
626.4
229.7
28.2
11.3
86.5
10.7
63.5
6.3
24.0
191.5
152.4
39.5
205.3
4.9
5.2
4.8
89.1
11.0
50.6
4.9
19.6
21.0
21.7
23.2
161.1
129.7
171.8
133.6
176.9
137.9
180.7
138.6
41.8
10.8
33.1
19.7
29.3
48.0
93.0
215.2
261.2
77.8
44.1
36.3
23.1
537.6
106.7
21.3
25.7
28.2
48.9
76.7
141.2
32.4
53.7
4.3
241.5
28.2
11.3
87.3
11.0
72.6
6.8
25.1
196.4
160.6
37.3
206.3
49
Wholesale trade
406.4
416.5
448.6
455.8
486.6
532.0
50
Retail trade
544.3
566.2
601.2
626.4
665.9
713.5
51
52
53
54
55
56
57
58
59
Finance, insurance, and real estate .
Depository institutions ..
Nondepository institutions
Security and commodity brokers
Insurance carriers
Insurance agents, brokers, and service
Real estate
Nonfarm housing services
Other real estate
Holding and other investment offices
1,147.9
200.1
1,174.3
198.6
1,196.9
197.0
1,206.2
193.4
1,246.0
192.0
1,286.0
191.9
61
1,200.8
69
70
71
72
73
74
75
Services.
Hotels and other lodging places
.Personal services
Business services
Auto repair, services, and parking
Miscellaneous repair services
Motion pictures .
Amusement and recreation services
Health services
Legal services
Educational services .
Social services....
Membership organizations
Other services
Private households .
76
Statistical discrepancy'
63
64
65
67
28.3
49.5
83.4
39.5
32.3
65.3
91.5
39.7
33.9
83.0
91.3
41.6
32.6
78.4
91.2
42.1
734.9
553.5
181.4
736.7
552.4
184.3
758.3
573.3
185.0
776.6
588.4
188.2
12.3
12.9
1,223.5
12.9
1,256.5
12.6
1,305.3
35.4
39.3
104.1
120.5
87.6
41.7
799.5
600.0
199.7
12.5
1,349.1
93.5
43.1
814.8
616.1
198.7
12.2
1,398.6
51.8
42.6
54.4
42.6
56.2
43.2
57.5
42.4
56.8
44.1
234.2
247.1
271.3
295.7
323.1
51.1
17.5
20.0
47.9
51.1
17.1
23.2
46.0
53.3
16.7
21.8
47.5
56.5
16.9
24.4
50.5
60.2
15.2
25.2
52.7
64.4
14.7
26.6
56.2
369.1
365.2
369.7
379.0
87.2
47.5
39.1
40.8
86.0
48.9
41.6
42.1
373.3
85.7
49.0
43.4
42.6
377.3
90.1
46.3
36.9
38.9
86.0
49.4
44.6
43.3
87.0
50.4
46.3
44.1
51.0
41.0
218.9
162.2
167.8
175.4
183.7
192.8
201.3
10,1
10.3
10.4
10.8
10.5
10.2
44.8
51.3
13.9
-23.1
-27.1
-45.4
77 Government....
873.6
875.8
878.3
876.5
877.8
884.0
78
79
80
Federal.
General government.
Government enterprises .
321.4
274.4
315.1
267.7
306.9
258.4
296.8
248.2
290.2
240.7
47.0
47.4
48.6
48.8
286.9
235.4
51.9
81
82
83
State and local ....
General government.
Government enterprises .
552.2
506.6
560.7
514.5
571.3
524.2
579.7
532.1
587.6
540.8
45.6
46.2
47.1
47.5
46.8
597.4
551.3
46.2
-7.8
-€0,4
-53.7
-€8.8
84
Not allocated by industry2
1. Equals the current-dollar statistical discrepancy deflated by the implicit price deflator for gross
domestic business product.
2. Equals GDP less the statistical discrepancy and the sum of GPO of the detailed industries.
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity
index and the 1992 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.
-114.3
SURVEY OF CURRENT BUSINESS
38 • November 1998
Table 14.—Gross Output and Intermediate Inputs by Industry, 1992-97
[Billions of dollars]
1992
1
Intermediate inputs
Gross output
Line
Gross domestic product
1993
1994
1995
1996
1997
1992
1993
1994
1995
1996
1997
l
2 Private industries l
Agriculture forestry and fishing
Farms
Agricultural services, forestry, and fishing
224.5
187.7
36.8
224.9
186.5
38.4
242.1
202.9
39.2
239.6
196.7
42.9
269.9
222.1
47.8
277.2
225.3
51.9
112.1
107.2
4.9
118.8
113.5
5.3
122.9
119.4
3.5
130.1
124.4
5.6
139.5
130.5
9.0
145.4
135.1
10.3
6
7
8
9
10
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
160.0
11.4
28.9
105.5
14.1
160.2
10.6
26.0
109.4
14.2
157.5
12.0
27.8
102.0
15.6
156.5
13.2
26.8
100.2
16.4
185.1
12.4
27.2
128.5
17.0
190.2
11.8
27.6
132.7
18.0
67.7
5.9
15.4
40.5
5.9
65.7
5.6
13.6
40.2
6.2
62.6
6.1
14.7
35.3
6.4
57.8
6.4
14.8
29.6
7.0
71.4
6.3
14.3
44.2
6.6
69.7
6.0
14.4
42.6
6.6
11
Construction
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone clay and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment
Motor vehicles and equipment
.-.
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products
Tobacco products
Textile mill products
Apparel ana other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics products
Leather and leather products
36
37
38
39
40
41
42
43
44
45
46
47
48
Transportation and
public utilities '
Transportation l
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation *
Transportation by air
Pipelines, except natural gas
Transportation services '
Communications
Telephone and telegraph
. .
Radio and television
Electric gas and sanitary services
49
Wholesale trade
585.8
625.2
680.1
744.6
768.4
801.5
179.4
50
Retail trade
864.8
916.1
977.9
1,017.6
1,062.3
1,108.3
320.5
51
52
53
54
55
56
57
58
59
60
Finance insurance and real estate '
Depository institutions '
Nondepository institutions l
Security and commodity brokers
Insurance carriers ,
Insurance agents brokers and service .
Real estate'
Nonfarm housing services
Other real estate '
Holding and other investment offices 1
96.1
164.5
59.6
118.0
191.2
63.0
128.6
202.6
69.1
144.9
215.5
72.6
182.3
221.6
73.8
219.7
239.7
76.2
46.6
81.1
20.1
615.2
639.7
677.6
713.7
748.7
789.8
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
Services '
Hotels and other lodging places
Personal services
Business services '
Auto repair services and parking
Miscellaneous repair services
Motion pictures
Amusement and recreation services ..
Health services ..
Legal services
Educational services
Social services l
Membership organizations '
Other services '
Private households '
.
.
85.5
73.5
90.6
77.2
97.8
81.6
103.0
87.2
108.8
91.0
93.9
39.9
49.2
75.5
580.8
118.7
84.7
100.6
40.8
54.1
83.4
614.3
122.3
89.3
109.5
44.3
58.5
89.9
645.8
124.5
95.1
118.2
49.2
62.5
101.5
682.7
126.1
101.3
126.9
50.5
65.9
112.2
713.4
135.4
107.7
3
4
5
.
.
.
.
.
....
. . . . . . . '.
432.1
457.4
493.1
516.2
554.3
592.7
202.5
215.0
224.4
229.8
242.4
263.9
2,961.2
1,510.3
84.3
43.2
61.5
138.0
164.9
251.2
210.2
235.6
149.1
131.0
41.3
1,450.9
398.3
39.9
70.5
70.9
131.9
170.0
299.5
148.1
112.2
9.5
3,096.6
1,613.6
97.4
46.2
64.4
142.8
172.7
272.2
228.6
265.0
146.2
133.8
44.3
1,483.0
412.8
33.6
74.0
73.0
132.2
176.0
307.1
143.3
121.2
9.9
3,313.3
1,770.3
106.6
49.7
70.0
161.1
188.8
305.8
261.9
312.5
132.9
134.4
46.6
1,543.0
420.6
35.3
77.7
76.1
141.9
180.7
325.8
142.1
133.5
9.4
3,558.0
1,907.5
108.6
52.9
75.1
180.4
202.5
347.5
296.8
325.0
128.8
140.8
49.1
1,650.5
436.6
38.3
79.4
76.7
172.8
192.0
352.2
149.6
143.9
9.0
3,674.5
1,983.0
109.6
55.2
81.3
178.6
212.0
371.4
313.8
326.6
135.9
147.3
51.3
1,691.5
450.9
39.5
79.7
75.6
159.3
199.6
358.4
171.2
148.1
9.0
3,891.1
2,137.3
114.7
60.6
88.8
188.1
224.2
399.5
344.2
343.3
156.9
159.0
58.1
1,753.9
460.4
43.7
83.6
77.5
160.5
209.0
379.9
175.6
154.3
9.2
1,897.6
937.0
52.3
27.0
36.5
99.1
94.8
142.5
111.6
182.8
92.6
76.7
21.1
960.6
296.2
21.6
45.1
43.7
86.1
90.3
179.0
119.8
74.1
4.7
1,980.1
997.9
62.8
28.5
39.3
100.7
99.0
161.2
114.0
193.5
92.8
82.9
23.2
982.2
309.5
18.4
48.6
45.6
84.5
96.0
182.4
112.0
79.9
5.3
2,097.2
1,091.1
68.2
31.2
41.2
114.9
104.5
183.4
129.0
225.2
83.4
85.7
24.4
1,006.1
311.0
19.0
52.3
47.8
90.6
94.7
185.2
111.7
89.2
4.7
2,275.8
1,195.9
67.7
33.5
44.9
128.7
114.9
206.1
160.1
239.7
82.7
91.7
25.8
1,079.9
313.5
21.0
54.9
49.3
113.8
107.3
196.1
121.3
98.9
3.8
2,365.4
1,245.8
70.5
34.7
50.0
127.1
118.9
222.6
172.2
244.2
86.9
91.8
26.8
1,119.6
334.9
22.5
55.0
48.9
102.7
107.3
202.6
141.6
99.6
4.6
2,512.3
1,353.3
71.9
38.5
55.2
134.9
124.9
240.6
186.9
257.9
106.3
103.1
33.2
1,159.0
341.9
25.3
58.1
49.1
105.5
110.6
221.1
140.4
102.3
4.4
33.0
15.9
167.9
33.6
16.7
178.3
35.8
17.4
196.0
37.5
18.4
204.5
38.1
19.7
218.1
38.9
20.8
238.8
10.9
5.0
85.8
11.5
5.6
91.3
11.6
6.0
101.0
14.6
6.2
106.5
14.6
6.7
125.3
14.7
7.0
140.9
92.7
8.4
100.2
8.2
104.6
8.6
111.9
9.0
116.8
8.6
128.2
8.4
49.8
3.5
52.4
3.4
52.9
4.0
58.0
4.1
51.6
3.3
53.8
2.9
247.6
188.5
59.1
264.9
263.3
196.8
66.5
274.5
277.0
207.4
69.5
269.1
300.8
225.4
75.4
270.3
326.1
242.0
84.1
274.2
347.1
258.0
89.1
278.2
86.5
58.8
27.7
90.2
87.7
62.2
25.5
91.7
92.3
65.3
27.0
75.0
107.5
80.2
27.3
73.2
118.7
85.0
33.7
69.3
135.4
99.5
36.0
69.0
201.9
212.1
253.2
248.6
238.7
342.9
362.6
376.6
389.3
395.4
54.1
84.7
21.5
49.5
93.8
24.0
71.5
97.0
26.0
85.8
99.6
25.8
113.1
93.8
25.6
61.8
70.9
70.3
70.6
73.0
77.1
112.2
95.5
34.6
32.5
36.8
33.0
40.4
35.8
41.7
39.8
43.2
43.2
43.2
43.9
134.4
52.8
72.9
119.4
749.6
142.5
115.8
42.8
22.4
29.2
27.6
211.8
28.5
38.5
46.4
21.8
30.7
35.6
227.7
30.7
40.5
50.2
25.1
35.5
38.5
235.6
30.7
42.8
54.6
28.7
36.2
44.9
253.8
29.5
46.0
58.6
28.9
37.6
50.9
267.9
34.6
49.6
61.1
29.6
42.4
52.6
289.5
35.9
54.3
76 Government '
77
78
79
Federal1
General government '
Government enterprises '
80
81
82
State and local '
General government1 J
Government enterprises
. .
1. Estimates for gross output and for intermediate inputs are not shown for this item, because
data are not available. See footnote 11 in the text.
SURVEY OF CURRENT BUSINESS
November 1998 •• 39
Table 15.—Chain-Type Quantity and Price Indexes for Gross Output by Industry, 1992-97
Quantity indexes (1992=100)
Line
1
n
C
1992
1993
Price indexes (1992=100)
1994
1995
1996
1997
1992
1993
1994
1995
1996
1997
Gross domestic product '
Private industries '
3
4
Agriculture, forestry, and fishing
Farms
.
Agricultural services forestry and fishing
100.00
100.00
100.00
97.61
97.16
99.67
105.70
106.26
103.73
102.56
101.61
108.05
106.71
104.25
119.91
113.69
111.00
128.11
100.00
100.00
100.00
102.64
102.28
104.66
102.04
101.72
102.87
104.07
,103.14
107.90
112.69
113.53
108.38
108.62
108.15
110.10
6
7
8
g
10
Mning
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals except fuels
100.00
100.00
100.00
100.00
100.00
100.72
98.83
94.92
102.35
101.57
103.03
101.60
103.91
102.18
108.81
102.16
99.87
103.22
100.80
111.78
103.79
100.60
106.38
102.08
114.27
106.82
102.70
109.03
105.14
118.31
100.00
100.00
100.00
100.00
100.00
99.46
94.55
94.73
101.27
99.11
95.55
104.02
92.57
94.62
101.52
95.80
116.00
89.79
94.15
103.86
111.52
108.54
88.52
119.31
105.13
111.31
101.48
87.49
119.62
107.86
11
c
Construction
100.00
102.51
106.75
107.41
112.57
116.70
100.00
103.25
106.89
111.21
113.94
117.53
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
3,1
32
33
34
35
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures ...
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment
Motor vehicles and equipment .
Other transportation equipment ...
Instruments and related products
Miscellaneous manufacturing industries .
Nondurable goods
Food and kindred products
Tobacco products
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing ..
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics products
Leather and leather products
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
103.52
105.66
99.74
104.89
102.43
104.88
103.97
110.56
110.56
109.72
96.40
100.72
105.35
101.30
101.86
86.23
105.19
102.00
101.61
100.28
100.27
100.24
106.92
102.22
109.40
114.44
104.91
109.10
107.39
111.38
111.73
125.68
130.22
126.28
86.12
100.17
108.90
104.14
102.60
100.74
110.08
105.91
105.67
100.33
103.01
102.59
116.24
94.96
114.87
123.19
107.24
112.87
110.72
112.91
115.50
146.47
161.76
129.90
81.61
104.01
112.49
106.25
105.55
106.22
109.11
106.07
106.49
100.96
106.28
104.52
119.20
87.52
118.83
131.16
109.12
115.02
118.04
116.38
119.51
164.81
188.72
129.67
84.58
108.14
115.81
106.28
103.77
107.74
108.26
102.97
104.69
101.32
107.80
106.20
123.14
88.72
126.91
143.72
110.36
124.42
127.24
121.64
124.96
187.82
220.89
137.37
96.54
116.20
129.80
110.07
105.62
113.84
113.13
104.75
109.67
104.14
113.16
111.07
128.57
88.75
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
101.02
101.12
115.88
102.00
102.21
98.61
100.72
98.01
98.36
102.51
101.73
101.41
101.90
100.91
101.74
97.61
99.83
100.91
98.60
103.22
102.26
96.56
100.98
101.93
102.28
102.42
120.53
105.52
105.95
104.79
102.45
96.85
95.69
105.04
103.47
102.46
103.64
102.13
102.90
87.72
100.08
101.30
101.82
105.91
105.61
93.56
102.36
104.71
104.60
102.52
120.05
108.53
110.27
115.74
106.32
94.46
87.30
106.18
105.85
103.35
105.83
107.07
103.85
90.34
103.22
101.96
122.99
111.83
110.65
96.69
107.53
,108.56
104.42
10011
119.14
111.11
111.93
111.16
107.55
89.71
79.11
106.91
107.75
104.00
107.40
109.70
109.07
91.81
104.45
103.57
115.34
115.88
111.03
108.89
107.19
107.22
103.54
98.47
123.27
112.71
113.42
111.99
108.79
84.67
74.13
106.06
109.01
104.52
108.40
109.82
109.43
96.15
104.84
104.37
110.98
118.03
112.11
106.80
106.93
109.30
36
37
38
39
40
41
42
43
44
45
46
47
48
Transportation and public utilities '
Transportation '
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation '
Transportation by air
Pipelines except natural gas
Transportation services '
Communications
Telephone and telegraph
Radio and television
Electric gas and sanitary services
100.00
100.00
100.00
103.74
104.20
105.64
111.85
107.11
111.41
120.97
109.43
113.01
124.77
109.99
119.27
124.80
111.17
129.33
100.00
100.00
100.00
98.15
101.30
100.52
97.03
102.76
104.78
93.96
105.89
107.76
92.46
113.14
108.93
94.38
117.98
109.98
100.00
100.00
103.84
100.97
112.06
103.12
114.98
104.15
118.10
108.71
129.99
107.66
100.00
100.00
104.09
96.59
100.67
99.14
104.96
103.06
106.63
93.65
106.37
93.38
100.00
100.00
100.00
100.00
105.00
104.37
106.96
100.95
109.75
109.92
109.27
99.68
116.61
117.54
113.83
100.76
127.87
131.26
118.04
100.80
138.80
147.02
116.23
100.57
100.00
100.00
100.00
100.00
101.26
100.06
105.05
102.65
101.92
100.13
107.6,0
101.92
104.18
101.74
112.04
101.25
103.00
97.83
120.47
102.68
100.99
93.11
129.56
104.42
49
Wholesale trade
100.00
104.81
111.07
117.57
121.20
126.54
100.00
101.82
104.53
108.11
108.22
108.12
50
Retail trade
100.00
104.31
109.59
112.84
117.67
122.58
100.00
101.55
103.19
104.28
104.39
104.55
51
52
53
54
55
56
57
58
59
60
Finance, insurance, and real estate l
Depository institutions '
Nondepository institutions '
Security and commodity brokers
Insurance carriers . . .
Insurance agents brokers and service
Real estate* '
'
Nonfarm housing services
Other real estate '
Holding and other investment offices '
100.00
100.00
100.00
123.79
105.48
101.77
136.26
108.98
108.11
154.34
109.23
110.64
194.83
106.65
108.84
239.65
106.90
109.94
100.00
100.00
100.00
99.16
110.22
103.87
97.75
112.99
107.20
97.68
119.94
110.18
97.35
126.34
113.73
95.38
136.33
116.38
100.00
101.23
104.28
106.54
108.47
111.21
100.00
102.71
105.62
108.89
112.19
115.42
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
Services '
Hotels and other lodging places
Personal services
Business services l
Auto repair services and parking
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
. .
Legal services
Educational services . .
Social services *
Membership organizations '
Other services * l
Private households
100.00
100.00
102.63
101.86
108.49
104.36
110.76
109.02
112.84
110.81
110.96
112.75
100.00
100.00
103.23
103.23
105.40
106.45
108.73
108.91
112.71
111.79
118.21
115.24
100.00
100.00
100.00
100.00
100.00
100.00
100.00
102.88
96.99
108.35
107.06
101.18
98.78
102.85
108.10
103.37
112.49
111.48
102.36
97.33
106.30
114.67
113.11
116.69
121.82
104.75
95.49
108.37
121.05
111.51
117.89
130.29
107.09
99.03
111.81
126.95
113.72
127.15
135.25
109.86
100.17
116.64
100.00
100.00
100.00
100.00
100.00
100.00
100.00
104.12
105.40
101.50
103.12
104.53
104.31
102.56
107.82
107.24
105.76
106.77
108.63
107.82
105.66
109.69
109.02
108.99
110.30
112.20
111.27
110.35
111.61
113.41
113.74
113.95
114.70
115.17
113.74
112.66
116.25
116.58
116.82
117.47
119.83
117.24
76
Government '
77
78
79
Federal1
General government!
Government enterprises '
80
81
82
State and local '
General government1
Government enterprises '
1. Estimates of gross output are not shown for this item, because data are not available. See
footnote 11 in the text.
40
SURVEY OF CURRENT BUSINESS
» November 1998
Table 16.—Chain-Type Quantity and Price Indexes for Intermediate Inputs by Industry, 1992-97
Quantity indexes (1992=100)
Price indexes (1992=100)
Line
1992
1993
1994
1995
1996
1997
1992
1993
1994
1995
1996
1997
Agriculture, forestry, and fishing
Farms
Agricultural services forestry and fishing
100.00
100.00
100.00
103.99
103.98
104.25
105.27
107.06
66.69
110.31
110.51
103.20
111.39
109.03
157.59
113.64
110.24
181.53
100.00
100.00
100.00
101.88
101.81
103.59
104.12
103.99
107.58
105.21
105.04
111.84
111.74
111.66
116.96
114.18
114.32
116.42
6
7
8
9
10
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals except fuels
100.00
100.00
100.00
100.00
100.00
95.73
96.03
88.96
97.33
101.87
92.37
99.91
95.55
88.32
103.99
83.82
100.00
94.96
73.16
109.46
93.75
98.02
91.16
92.36
100.66
90.90
93.50
91.37
88.45
100.05
100.00
100.00
100.00
100.00
100.00
101.31
99.81
99.58
102.10
101.65
100.09
103.79
100.21
98.78
104.11
101.84
109.07
101.19
100.00
107.09
112.45
108.63
102.20
118.18
109.86
113.21
109.24
102.45
119.04
111.52
1
2
3
4
5
Gross domestic product '
Private industries '
. . . . .
11
Construction
100.00
103.06
104.45
103.63
107.56
113.54
100.00
103.02
106.10
109.53
111.30
114.80
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone clay and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products
Tobacco products
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics products
Leather and leather products
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
103.53
105.38
106.40
101.78
105.76
102.62
103.40
114.05
102.33
104.80
98.79
108.65
108.73
101.72
101.94
84.87
106.90
103.15
97.58
105.63
100.37
100.64
106.20
110.96
107.84
112.84
112.36
107.81
107.24
109.80
105.29
129.16
115.11
119.88
87.31
112.63
110.90
102.94
102.05
86.24
111.53
106.95
101.51
102.50
98.92
103.87
114.77
96.39
112.27
121.01
112.21
111.53
112.18
112.85
108.44
144.48
144.56
124.83
84.68
124.00
111.84
103.72
99.78
90.08
111.87
106.71
111.81
104.67
99.62
103.78
117.12
75.10
117.22
129.34
116.03
114.95
123.50
114.82
114.38
162.64
165.46
127.07
88.84
134.58
116.25
105.51
103.86
96.66
112.27
105.18
106.37
106.49
101.79
104.49
119.93
90.56
125.79
142.12
114.67
126.17
134.33
121.07
119.30
181.62
186.39
134.51
108.39
159.38
144.05
110.22
106.00
110.45
119.27
105.42
111.08
111.41
110.22
110.32
122.88
86.12
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.79
101.07
112.85
103.87
101.88
99.12
100.96
99.17
99.84
101.00
101.41
99.44
101.05
100.51
102.52
100.73
100.75
101.01
100.59
100.65
101.53
92.84
101.45
102.11
102.48
103.20
116.01
107.21
105.48
105.62
104.67
99.64
100.41
102.76
103.20
99.18
104.18
101.75
102.89
102.26
103.96
102.29
103.67
102.29
104.56
89.77
104.78
103.78
106.83
105.48
115.32
111.47
109.81
115.10
111.73
100.07
99.27
105.09
105.50
96.40
109.25
108.39
106.07
108.25
108.80
105.69
118.28
113.53
109.97
97.53
113.94
107.84
106.35
102.80
116.22
111.95
111.10
111.72
109.58
96.00
93.30
105.17
105.65
88.92
109.06
110.47
108.86
107.88
108.67
106.28
112.18
111.56
111.21
113.08
112.01
107.88
105.25
101.63
119.96
112.96
112.61
112.45
110.39
92.92
89.86
104.92
105.87
84.36
109.20
109.46
108.91
106.19
108.06
106.57
110.38
109.97
112.06
106.23
112.35
109.53
36
37
38
39
40
41
42
43
44
45
46
47
48
Transportation and
public utilities1
Transportation J
Railroad transportation . . .
Local and interurban passenger transit
Trucking and warehousing
Water transportation l
Transportation by air
Pipelines except natural gas
Transportation services '
Communications
Telephone and telegraph
Radio and television
Electric gas and sanitary services
100.00
100.00
100.00
102.55
111.96
106.38
101.63
119.65
114.72
125.16
119.20
117.51
120.00
123.47
132.88
119.93
126.89
151.66
100.00
100.00
100.00
102.58
99.96
100.10
104.40
101.50
102.71
106.47
104.73
105.70
111.55
109.28
109.94
112.27
110.34
108.34
100.00
100.00
104.70
93.01
105.29
108.58
112.49
108.55
93.21
85.30
97.50
72.12
100.00
100.00
100.61
102.50
100.96
104.26
103.67
107.33
111.15
110.46
110.89
113.09
100.00
100.00
100.00
100.00
101.90
107.36
90.34
98.07
109.69
117.72
92.71
79.40
124.98
140.91
91.53
79.85
144.89
161.42
110.04
69.81
170.57
197.12
115.38
68.20
100.00
100.00
100.00
100.00
99.50
98.54
101.92
103.71
97.32
94.32
105.34
104.72
99.43
96.78
107.69
101.68
94.69
89.52
110.56
110.12
91.81
85.80
112.70
112.23
49
Wholesale trade
100.00
110.09
112.66
129.81
124.73
117.57
100.00
102.25
104.94
108.74
111.09
113.18
50
Retail trade
100.00
104.81
108.16
109.16
110.11
109.15
100.00
102.08
104.60
107.62
110.31
113.03
51
52
53
54
55
56
57
58
59
60
Finance, insurance, and real estate '
Depository institutions 1
Nondepository institutions '
Security and commodity brokers
Insurance carriers
Insurance agents, brokers, and service
Real estateT
Nonfarm housing services
Other real estate l
Holding and other investment offices '
100.00
100.00
100.66
115.21
100.73
104.08
104.49
108.55
113.38
149.12
109.26
118.73
178.32
108.79
114.92
233.62
99.94
111.11
100.00
100.00
100.00
i 66.76
103.58
102.67
101.59
106.45
105.28
102.83
109.45
108.61
103.22
112.84
111.39
103.90
115.64
114.24
100.00
111.22
109.10
108.15
108.99
110.47
100.00
103.26
104.29
105.65
108.35
112.94
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
Services '
Hotels and other lodging places
Personal services
Business services '
Auto repair, services, and parking
Miscellaneous repair services ....
Motion pictures .
Amusement and recreation services
Health services
Legal services
Educational services
Social services l
Membership organizations l
Other services *
Private households '
100.00
100.00
104.14
99.12
111.23
104.99
ill. 56
113.46
112.80
120.25
110.25
119.24
100.00
100.00
102.27
102.30
105.11
104.87
108.21
107.90
110.89
110.46
113.32
113.28
100.00
100.00
100.00
100.00
100.00
100.00
100.00
106.34
96.56
103.09
126.06
105.10
105.34
102.98
112.73
110.23
114.64
132.91
106.22
103.35
106.87
119.74
128.06
112.99
150.48
111.25
96.56
111.30
125.06
134.48
112.41
165.68
115.90
110.98
118.18
128.18
142.44
123.21
166.53
123.04
112.39
126.51
100.00
100.00
100.00
100.00
100.00
100.00
100.00
101.76
100.66
101.93
102.11
102.30
102.16
102.18
i 03.95
101.36
106.04
104.77
104.73
104.17
104.26
106.44
100.09
109.69
108.00
107.73
107.15
107.57
109.47
95.66
114.39
111.06
109.15
109.36
109.22
111.25
92.74
117.89
114.34
111.09
111.84
111.63
76
.
. .
.
Government1
77
78
79
Federal1
General government1
Government enterprises '
80
81
82
State and local!
General government1
Government enterprises J
1. Estimates for intermediate inputs are not shown for this item, because data are not available.
See footnote 11 in the text.
SURVEY OF CURRENT BUSINESS
November 1998
Reconciliation of the U.S.- Canadian
Account, 1996 and 1997
Current
By Anthony J. DiLullo and Hugh Henderson
Anthony DiLullo is
the assistant chief
of BEA'S Balance of
Payments Division.
Hugh Henderson
is Chief, Current
Account, in
Statistics Canada's
Balance of
Payments and
Financial Flows
Division. This
article will also be
published in
Canada's Balance of
International
Payments, Third
Quarter 1998.
N THE reconciled basis, the U.S.-Canadian
current account shows a larger U.S. deficit,
or Canadian surplus, than on the U.S.-published
basis for both 1996 and 1997. Compared with
the Canadian published estimates, however, the
reconciled current account shows a smaller U.S.
deficit, or Canadian surplus. The U.S.-published
current-account balance with Canada is a U.S.
deficit of $7.0 billion for 1996 and a U.S. deficit
of $0.8 billion for 1997.1 The corresponding
Canadian-published balance is a Canadian surplus (U.S. deficit) of $13.9 billion for 1996 and
a Canadian surplus of $6.7 billion for 1997. On
the reconciled basis, the U.S. deficit, or Canadian
surplus, is $12.9 billion for 1996 and $4.4 billion
for 1997 (chart i, table i).2
This article presents the results of the reconciliation of the bilateral cur rent-account estimates
of Canada and the United States for 1996 and
O
1. In this article, all values are expressed in U.S. dollars.
2. The reconciled estimates are intended to show how the currentaccount estimates would appear if both countries used the same definitions,
methodologies, and data sources. The reconciliation of the U.S.-Canadian
current account does not necessarily result in revisions to the published
accounts.
Table 1.—Major U.S.-Canadian Balances
1997.3 The details of the cur rent-account reconciliation for 1996 and 1997 are presented in the tables
that follow this article. Tables 2.1 and 2.2 show
the major types of reconciliation adjustments—
definitional, methodological, and statistical—that
were made to the major current-account components. Tables 3.1 and 3.2 present the published estimates, the reconciled estimates, and the
amounts of the adjustments for each major component. Tables 4-8 present the reconciliation
details for each current-account component.4
3. The reconciliation of the current account has been undertaken each
year since 1970. Summary results of the reconciliations were published in
the United States in the following issues of the SURVEY OF CURRENT BUSINESS: June 1975, September 1976 and 1977, December 1979, June 1981, and
December 1981 through 1991. Complete details of the reconciliations for 1990
forward were published in the following issues of the SURVEY: November
1992, October 1993 through 1995, and November 1996 and 1997. In Canada,
the results were published in the following issues of Canada's Balance of International Payments (catalogue 67-001), a publication of Statistics Canada:
Fourth Quarter 1973, Second Quarter 1976 and 1977, Third Quarter 1978 and
1979, First Quarter 1981, and Third Quarter 1981 through 1997.
4. For reconciliation purposes, some of the details in the tables in this
article differ from those in balance-of-payments tables regularly published by
BEA and Statistics Canada.
CHART 1
[Billions of U.S. dollars]
Published
estimates
U.S.-Canadian Current-Account Balance1
Reconciled
estimates
United Canada United Canada
States
States
1996
Goods
Services
Investment income
Goods services and income
-24.2
7.1
10.4
30.9
-5.9
-12.5
-31.7
6.6
12.6
31.7
-6.6
-12.6
-6.6
12.5
-12.5
12.5
-.3
1.4
-.4
.4
-7.0
13.9
-12.9
12.9
-19.0
6.4
12.2
23.5
-4.5
-13.8
-25.3
5.9
15.5
25.3
-5.9
-15.5
Goods services and income
-.4
5.2
-4.0
4.0
Unilateral transfers net
-.4
1.5
-.4
-.4
-.8
6.7
-4.4
4.4
Unilateral transfers, net
Current account
Current account
0
PUBLISHED
•U.S. estimates
Canadian estimates
RECONCILED
-3
-6
*9
1997
Goods
Services
Investment income
BIBton U.&$
NOTE.—:A U.S. surplus (+) is a Canadian deficit (-), and a Canadian surplus (+) is a U.S.
deficit (-). Details may not add to totals because of rounding.
-12
-15
I
_L
1996
1997
1996
1997
1. Balance shown is net northbound-a U.S. surplus is a Canadian deficit, and a
U.S. deficit is a Canadian surplus..
U.S. Department of Commerce, Bureau of Economic Analysis
42 • November 1998
SURVEY OF CURRENT BUSINESS
Reconciled Current-Account Balances
for 1996 and 1997
In the U.S. current account, the reconciliation
adjustments resulted in increases of $5.9 billion in the 1996 U.S. deficit and $3.6 billion
in the 1997 U.S. deficit. In both years, the
changes reflect larger adjustments to the U.S.
southbound estimates (U.S. payments) than to
the northbound estimates (U.S. receipts) (tables
2.1 and 2.2).5 The largest increases in the U.S.
southbound estimates result from the addition
of Canadian reexports to U.S. goods imports
(a definitional adjustment), from an increase
for undercoverage in the U.S. inland freight adjustment to U.S. goods imports (a statistical
adjustment), and from an increase for undercoverage of some services payments (a statistical
adjustment). The largest increases in the U.S.
northbound estimates result from upward adjust5. In this article, the term "northbound" refers to U.S. receipts, or Canadian payments; the term "southbound" refers to U.S. payments, or Canadian
receipts.
ments to investment income for undercoverage
of income on U.S. holdings of Canadian bonds
(a statistical adjustment).
In the Canadian current account, the reconciliation adjustments resulted in decreases of $1.0
billion in the 1996 Canadian surplus and $2.3 billion in the 1997 Canadian surplus. In both years,
the changes reflect larger downward adjustments
to the Canadian southbound estimates (Canadian receipts) than to the Canadian northbound
estimates (Canadian payments). The Canadian
southbound estimates were adjusted downward
to account for definitional differences, mainly
in unilateral transfers; for methodological differences, mainly in investment income; and for statistical differences, mainly in "other" services. In
the Canadian northbound estimates, downward
adjustments for definitional and methodological
differences, mainly in "other" investment income,
were partly offset by upward adjustments for statistical differences, mainly in direct investment
income.
Note on the U.S.-Canadian Current-Account Reconciliation
The U.S.-Canadian current-account reconciliation is
undertaken because of the extensive economic links
between the two countries and the need to explain differences in the published Canadian and U.S. estimates of
the bilateral current account. In principle, the bilateral
current account of one country should mirror the bilateral current account of the other country.
Differences occur in the bilateral U.S. and Canadian
current accounts as published by the Bureau of Economic
Analysis (BEA) and by Statistics Canada because of differences in the definitions, methodologies, and statistical
sources used by each agency. In addition, some of the
differences for 1997 are in components of the current account for which data are still preliminary and subject to
revision; these differences may be eliminated when final
data for these components become available. The reconciled estimates are intended to assist analysts who use
both countries' statistics and to show how the currentaccount estimates would appear if both countries used
common definitions, methodologies, and data sources.
The longstanding Canadian-U.S. current-account reconciliation is among the leading examples of the benefits
that can be derived from international data sharing. The
reconciliation process and the exchange of data have
i. A detailed article on the methodology used to reconcile the U.S.Canadian current account was published by BEA in "Reconciliation of the
U.S.-Canadian Current Account" in the November 1992 SURVEY and by
Statistics Canada in Reconciliation of the Canadian-United States Current
Account, 1990-91. Statistics Canada also published a shortened version in
the December 1992 Canadian Economic Observer and in Canada's Balance
of International Payments, Third Quarter 1992.
resulted in greater accuracy of the published estimates of
transactions between Canada and the United States and
in increased efficiency in producing the estimates. The
exchange of data between Canada and the United States
for transactions such as trade in goods, travel, passenger fares, Canadian and U.S. Government transactions,
and some transportation transactions cover more than 80
percent of the value of the Canadian and U.S. current account and has led to the elimination of some differences
in the Canadian- and U.S.-published estimates. Wider
opportunities for international data sharing may result
from the 1997 yearend coordinated benchmark survey of
international portfolio investment that was undertaken
by more than 30 countries, including Canada and the
United States, under the auspices of the International
Monetary Fund.
Although the U.S.- and Canadian-published estimates
are reconciled and there is extensive exchange of data between Canada and the United States, differences in the
published estimates remain. Complete substitution of
reconciled estimates for published estimates and complete exchange of data are not feasible for several reasons.
For trade in goods, imports in the U.S. accounts would
be affected because the United States attributes Canadian reexports to the country of origin rather than to
Canada, the last country of shipment. For some accounts, protection of the confidentiality of source data
bars the exchange of data. Finally, some requirements,
such as valuation adjustments, differ when integrating
the international and national (domestic) accounts in
each country.
SURVEY OF CURRENT BUSINESS
Effect of Annual Revisions
on the Reconciliation
Once each year, BEA and Statistics Canada revise their published estimates of international
transactions to incorporate methodological and
statistical revisions. Some of the revisions eliminate or reduce differences in the U.S.- and
Canadian-published estimates and thus have a direct impact on the reconciliation process. For
example, changes in the Canadian-published estimates last year to make them conform more
closely to the International Monetary Fund's Balance of Payment Manual (fifth edition) resulted
in the elimination of four major reconciliation
adjustments.6 This year, several of the revisions
to the U.S.-published estimates have further reduced the number of adjustments needed for
reconciliation.
First, one of the major statistical adjustments
to U.S. southbound estimates of U.S. Government income payments was virtually eliminated,
as a result of the incorporation of the results of
the U.S. Treasury Department's 1994 benchmark
survey of foreign investment in U.S. long-term
securities and a new methodology for estimating
interest payments on U.S. Government agency
securities. Last year, this adjustment accounted
for $1.3 billion of the reconciliation adjustments
for 1996; this year, the adjustment was only $35
million for 1996 and $4 million for 1997.
Second, in the U.S. accounts, the need for
the methodological adjustment (reclassification)
required to reconcile operational leasing was
eliminated. More complete coverage of opera6. See Anthony J. DiLullo and Lucie Lalibert£, "Reconciliation of the
U.S.-Canadian Current Account* 1995 and 1996," in SURVEY 77 (November
1997): 87 and in Canada's Balance of International Payments, Third Quarter
1997- 22-23.
November
Acknowledgments
The reconciliations were carried out under the direction of Hugh Henderson, Chief, Current Account,
in Statistics Canada's Balance of Payments and Financial Flows Division, and Anthony DiLullo, assistant
chief of BEA'S Balance of Payments Division. At Statistics Canada, Lucie Laliberte, Robert Theberge, Denis
Caron, Rick Murat, and Linda Tasse participated in the
reconciliation of the Canadian accounts; Denis Caron
was responsible for the production and coordination
of the reconciliation tables. At BEA, Russell Scholl, assisted by Jane Newstedt, was responsible for reconciling
the U.S. portfolio income accounts; Mark New, for the
accounts related to U.S. direct investment in Canada;
Gregory M. Fouch, for the accounts related to Canadian direct investment in the United States; Kwok Lee,
for goods; and Michael Mann, for services.
tional leasing and the reclassification of leasing
of transportation equipment without crew to the
"other" private services account from the "other"
transportation account have brought the U.S.
treatment of operational leasing closer to the
current Canadian treatment.
Finally, revisions in 1997 to the Canadian
methodology for compiling data on inland freight
for northbound shipments of goods, which are
the source data for the U.S.-published estimates,
resulted in a reduction in the U.S.-published estimates. These revisions reduced the amount
of statistical adjustment needed to reconcile the
northbound goods account. Last year, the Canadian estimate of northbound inland freight for
1996 was adjusted upward $1.3 billion to reconcile
with the U.S. estimate. This year, the upward adjustment was $0.4 billion for 1996 and $0.5 billion
for 1997.
Tables 2.1 through 8.2 follow. £3
43
SURVEY OF CURRENT BUSINESS
44 * November
Table 2.1.—Summary of Reconciliation Adjustments, Northbound
[Millions of U.S. dollars]
Definitional
Methodological
Reclassification
United
States
Canada
United
States
Canada
Statistical
Total
Gross or net
United
States
Canada
United
States
Canada
United
States
Canada
1996
Goods
Services
.
-342
186
-1,864
1,065
-1,678
723
-91
-186
542
-699
356
-790
554
-66
Transfers under U.S military agency sales contracts
146
Travel
Passenger fares
91
-213
Other transportation
-91
-41
-50
Other services
Affiliated . . . .
Unaffiliated
Government
Investment income
Direct
Other
-1,002
Unilateral transfers
-182
-740
-280
-460
Total adjustments
91
-213
174
46
67
46
241
-174
775
-226
990
11
-1,003
-1,290
271
16
35
-506
530
11
-1,268
-1,331
47
16
2,934
-362
3,296
906
1,792
-886
2,391
-362
2,753
-1,763
1,315
-3,078
-174
-74
74
-279
-723
146
488
-543
-543
-1,667
-124
-1,543
-50
319
-224
-1,617
-1,667
269
-182
1,562
1,272
1,339
-2,011
1997
Goods
-249
138
26
190
164
-59
Services
-152
-138
234
90
96
-62
93
Transfers under U S military agency sales contracts
575
Travel
-83
-214
Passenger fares
Other transportation
Other services
Affiliated
Unaffiliated
Government
Investment income
Direct
Other
.
Unilateral transfers
Total adjustments
84
-152
-79
-73
-713
-255
-458
-223
-1,761
84
-214
180
57
29
57
209
-180
474
-228
694
8
-116
-435
323
-4
-239
-483
236
8
-448
-514
70
-4
-2,534
-137
-2,397
3,551
-267
3,818
2,082
2,680
-598
2,785
-267
3,052
-1,589
2,120
-3,709
271
-223
-2,534
3,765
2,362
3,316
-1,932
-180
-766
-1,137
-358
-779
93
492
-65
65
-766
318
-448
-46
November 1998 •
SURVEY OF CURRENT BUSINESS
Table 2.2.—Summary of Reconciliation Adjustments, Southbound
[Millions of U.S. dollars]
Definitional
Canada
United
States
Statistical
Methodological
Reclassification
Canada
Total
Gross or net
United
States
Canada
United
States
Canada
United
States
Canada
United
States
1996
-28
Goods
4,378
-143
Services . . .
Direct defense expenditures
307
20
1,250
1,480
1,529
-307
-20
-1,039
936
-1,489
916
32
-20
-5
27
-20
10
Travel
76
Passenger fares
5,878
86
1
Other transportation
-SO
97
Other services
Affiliated
Unaffiliated
Government
-63
-6
-57
-436
Investment income
Direct
Other
-404
-32
-10
-65
55
:
^6
-54
Unilateral transfers
-543
-1,667
-124
-1,543
-543
-1,667
-224
319
-1,447
4,378
625
5,004
61
-1,078
1,023
-1,577
-722
-324
-1,146
Total adjustments
-164
^32
-130
1
44
-68
191
1,010
13
689
-728
-785
-64
-164
1,013
-65
1,065
13
797
-1,865
21
-1,886
-1,161
319
128
3,105
-2,984
7,259
1,465
1,745
6,509
-259
-108
-15
147
-108
254
1997
Goods
Services
-142
Direct defense expenditures
Travel . . .
.
.
298
40
822
-298
-40
-1,010
41
^0
-24
12
.
622
-1,450
581
17
-40
72
84
Passenger fares
Other transportation
-84
100
Other services
Affiliated .
Unaffiliated
Government
-58
-1
-57
-439
.
Investment income
Direct
Other
-1,165
-1 073
-92
Unilateral transfers
Total adjustments
-398
-41
. . .
22
-12
-73
61
-1,008
-769
-228
-2,534
-137
-2,004
5,004
767
-11
754
13
502
304
198
284
-49
333
-2,397
-765
318
-4
-2,534
-448
310
-1,322
. .
-765
-217
2,371
38
-1,505
-770
-683
-52
-3,197
-906
-2,291
-217
755
73
815
13
-481
-49
-432
-1,326
318
-4,228
6,926
45
SURVEY OF CURRENT BUSINESS
November 1998
Table 3.1.-4J.S.-Canadian Current-Account Reconciliation, Northbound
[Millions of U.S. dollars]
Published estimates
U.S.
receipts
Canadian
payments
Reconciled estimates
Difference
U.S.
receipts
Canadian
payments
Remaining
difference
Adjustments to
published estimates
United
States
Canada
1996
Goods and servic6S
Goods
Servic0s
Transfers under U.S. military agency sales contracts
Travel
Passenger fares
Other transportation
Royalties and license fees
Other services
Investment income
Direct investment
Other private assets/liabilities
U S. Government assets
154,600
153,345
1,255
153,278
153,278
-1,322
-67
134,516
132,115
2,401
132,838
132,838
-1,678
723
20,084
146
6,842
1,331
2,394
1,541
7,830
21,230
-1,146
146
20,440
146
7,330
1,118
2,440
20,440
146
7,330
1,118
2,440
»S
«8
18,119
9,024
9,095
22,273
7,347
14,926
(3)
20,510
8,662
11,848
(3)
20,510
8,662
11,848
(3)
172,719
176,069
7,239
1,118
2,199
1,468
9,206
Unilateral transfers, net
Unilateral transfers gross
451
Current account, northbound
-397
213
195
73
-1,376
-4,154
1,677
-5,831
-451
-3,350
356
488
-213
46
-1,541
1,576
2,391
-362
2,753
269
269
269
174,058
174,058
1,339
-790
146
91
241
-1,468
200
-1,763
1,315
-4,078
-182
-2,011
1997
Goods and services
Goods .
Services
Transfers under U.S. military agency sales contracts
Travel
Passenger fares
Other transportation
Royalties and license fees
Other services
Investment income
Direct investment
Other private assets/liabilities
U S Government assets
Unilateral transfers net
Unilateral transfers gross
..
.
Current account, northbound
172,692
173,073
-881
172,952
172,952
260
152,047
152,270
-223
152,211
152,211
164
-59
20,741
93
7,316
1,195
2,441
(2)
9,696
20,741
93
7,316
1,195
2,441
(2)
9,696
96
-62
93
84
23,325
10,425
12,900
(3)
23,325
10,425
12,900
(3)
20,645
93
6,824
1,409
2,384
1,561
8,374
20,803
-158
7&
-408
20,540
10,692
9,848
24,914
8,305
16,609
(3)
193,232
198,480
93
1,195
2,232
1,574
8,570
.
494
1. In the Canadian published accounts, transactions of U.S. military agencies are not shown
jparately.
2. Royalties and license fees are included in "other" services for reconciliation.
214
152
-13
-196
-4,374
2,387
-6,762
-494
-6,248
492
-121
-214
57
-1,561
1,322
209
-1,574
1,126
2,785
-1,589
2,120
-3,709
-267
3,052
271
271
271
196,548
196,548
3,316
-223
-1,932
3. Income on U.S. Government assets is included in income on "other" private assets in the
Canadian published accounts.
SURVEY OF CURRENT BUSINESS
November 1998 •
Table 3.2.—U.S.-Canadian Current-Account Reconciliation, Southbound
[Millions of U.S. dollars]
Published estimates
Canadian
receipts
U.S.
payments
Reconciled estimates
Difference
Canadian
receipts
U.S.
payments
Adjustments to
published estimates
Remaining
difference
Canada
United
States
1996
Goods and sorvices
Goods
Services
.
Direct defense expenditures
Travel
Passenger fares
Other transportation
Royalties and license fees
Other services
Investment income
Direct investment
Other private assets/liabilities
U S Government liabilities
178,365
171,611
6,754
178,405
178,405
40
6,794
163,018
158,669
4,349
164,547
164,547
1,529
5,878
15,347
2,405
-47
86
1
-224
58
2,532
13,858
27
4,756
392
2,626
(2)
6,057
13,858
27
4,756
392
2,626
-1,489
27
2,565
275
7,359
12,942
47
4,670
391
2,790
217
4,827
61
-275
-1,302
916
-20
86
1
-164
-217
1,230
9,747
3,166
5,504
1,077
7,724
3,295
3,387
1,042
2,023
-129
2,117
35
7,882
3,187
3,636
1,059
7,870
3,187
3,624
1,059
-1,865
21
-1,868
-18
147
-108
237
17
348
-348
1,827
666
666
-1,161
-348
666
-2,984
7,259
295
7,090
«£!
392
...
Unilateral transfers net
Unilateral transfers gross
1,827
Current account, southbound
«£
12
12
12
189,938
179,683
10,255
186,954
186,942
192,080
185,285
6,795
192,375
192,375
175,788
171,024
4,764
177,533
177,533
1,745
6,509
16,292
2,032
-57
84
14,842
17
4,985
470
2,821
581
-40
84
-255
-67
2,327
14,842
17
4,985
470
2,821
(2)
6,550
-1,450
17
2,783
250
7,805
14,260
57
4,901
470
3,037
317
5,478
38
-250
-1,255
-217
-317
1,072
11,081
4,072
5,950
1,059
8,353
3,215
4,083
1,055
2,728
857
1,867
4
7,884
3,166
3,658
1,059
7,872
3,166
3,651
1,055
-3,197
-906
-2,291
-481
-49
-432
366
-366
2,010
684
684
-1,326
-566
684
11,169
200,944
200,932
-4,228
6,926
1997
Goods and services
Goods
Services
Direct defense expenditures
Travel
Passenger fares
Other transportation
Royalties and license fees
Other services
Investment income
Direct investment
Other private assets/liabilities
U.S Government liabilities
Unilateral transfers net
Unilateral transfers gross
Current account, southbound
«Q
470
2,010
205,172
194,003
1. In the Canadian published accounts, transactions of U.S. military agencies are not shown
separately.
2. Royalties and license fees are included in "other" services for reconciliation.
6,550
12
8
4
12
47
SURVEY OF CURRENT BUSINESS
48 • November 1998
Table 4.1 .—Trade in Goods, Northbound
[Millions of U.S. dollars]
Canadian
U.S.
receipts payments
1996
Balance of payments basis, published
Reconciliation adjustments:
Inland freight
Repair of equipment
Other balance of payments adjustments
Statistical adjustments
134,516
-1 867
132,115
436
186
4
-342
Reconciled
132,838
132,838
1997
Balance of payments basis, published
152,047
152,270
Reconciliation adjustments:
Inland freight
Repair of equipment
Other balance of payments adjustments
Statistical adjustments
Reconciled
Type of adjustment
630
Statistical
Reclassification
Definitional
Statistical
522 Statistical
138
26
152.211
-249
-331
Reclassification
Definitional
Statistical
152,211
Table 4.2.—Trade in Goods, Southbound
[Millions of U.S. dollars]
U.S.
Canadian
receipts payments
Type of adjustment
1996
Balance of payments basis, published
Reconciliation adjustments:
Canadian reexports
Inland freight
Other balance of payments adjustments
Statistical adjustments
Reconciled
163,018
978
139
412
158,669
4,314 Definitional
1 341 Statistical
223 Definitional and reclassification
Statistical
164,547
164,547
175,788
171,024
1997
Balance of payments basis, published
Reconciliation adjustments:
Canadian reexports
Inland freight
Other balance of payments adjustments
Statistical adjustments
Reconciled
913
789
43
177,533
4945 Definitional
1,264 Statistical
300 Definitional and reclassification
Statistical
177,533
SURVEY OF CURRENT BUSINESS
November 2998 •
Table 5.1.—Travel, Passenger Fares, and Other Transportation, Northbound
[Millions of U.S. dollars]
Reconciled estimates
Published estimates
U.S. Canadian
U.S. Canadian Remaining
receipts payments Difference receipts payments difference
1996
Travel
Business and personal
Education
Medical
6,842
6,842
7,239
6,776
402
61
-397
66
-402
-61
7,330
6,776
425
129
Adjustments to published estimates
United
States
488
-66
425
129
7,330
6,776
425
129
91
23
68
1,331
1,118
213
1,118
1,118
2,394
2,199
195
2,440
2,440
46
241
1,816
32
23
( )
200
(D)
1,837
139
(D)
1,258
(D)
1,837
139
J3( )
21
107
(D)
>)
1,793
191
(D)
1,193
(D)
44
-52
(D)
65
(D)
579
61
358
160
389
29
357
3
190
32
1
157
587
29
358
200
587
29
358
200
8
-32
17
-17
17
17
17
-64
7,316
6,741
443
132
7,316
6,741
443
132
492
-83
443
132
214
1,195
1,195
Port services
Vessel operators
Airline operators
Other
1
Other
-159
D
-213
-135
D
(D)
40
198
1
197
6,824
6,824
Passenger fares
1,409
1,195
Other transportation
2,384
2,232
152
2,441
2,441
57
209
1,880
54
(D)
1,435
(D)
1,894
208
(D)
1,272
(D)
-14
1,912
155
32
101
(D)
18
-53
(D)
38
(D)
504
64
287
153
Freight
(jcean
Air
Land
Other
Port services
Vessel operators
Airline operators
Other
Other
D
83
i(SD)
1$
(D)
1,912
155
(D)
1,310
(D)
320
29
287
4
184
35
0
149
511
29
287
195
511
29
287
195
18
-18
18
18
Data suppressed to avoid disclosure of data of individual companies.
-408
-427
-154
(
(D)
7
-35
:::::
42
18
Statistical
Statistical
Reciassification and statistical
84
16
68
Statistical
Reciassification and statistical
Reciassification and statistical
Statistical
-214
-125
Statistical
Statistical
Statistical
Statistical
Statistical
1997
Travel .
Business and personal
Education
Medical
7,232
6,741
427
64
Statistical
Rectification and statistical
Rectification and statistical
Statistical
Passenger fares
Other transportation
Freight
Ocean
Air
Land
Other
Type of adjustment
Canada
Statistical
Statistical
Statistical
Statistical
191
Statistical
Statistical
191 Reciassification and statistical
Statistical
49
SURVEY OF CURRENT BUSINESS
JO • November 1998
Table 5.2.—Travel, Passenger Fares, and Other Transportation, Southbound
[Millions of U.S. dollars]
Published estimates
Adjustments to published estimates
Reconciled estimates
Canadian
U.S.
Canadian
U.S.
Remaining
receipts payments Difference receipts payments difference Canada
United
States
Type of adjustment
1996
Travel
Business and personal
Education
Medical
....
Passenger fares
Other transportation
Freight
Ocean
Air
Land
Other
Port services
Vessel operators
Airline operators
Other
. ..
4,756
4,651
61
43
4,670
4,670
1
4,756
4,651
61
43
86
-19 Statistical
61 Rectification and statistical
43 Rectification and statistical
4,756
4,651
61
43
1 Statistical
392
391
392
392
2,565
2,790
-224
2,626
2,626
61
-164
2,125
101
(D)
1,896
(D)
2,249
113
(D)
2,054
(D)
-124
2,136
113
(D)
1,896
(D)
2,136
113
(D)
1,896
(D)
11
12
(D)
-113
346
28
262
56
541
131
328
82
-195
-103
480
65
262
153
480
65
262
153
134
37
-66
-26
95
11
11
-84
84
-18
57
44
4,985
4,883
57
44
4,985
4,883
57
44
95
Other
86
-19
61
43
-12
(D)
-158
(D)
(D)
97
:s( )
D
Statistical
Statistical
Statistical
Statistical
-61
-66 Statistical
-66 Statistical
71 Rectification and statistical
11 Definitional and statistical
1997
Travel
Business and personal
Education
Medical
Passenger fares
Other transportation
Freiqht
Ocean
Air
.
.
Land
Other . ..
Port services
Vessel operators
Airline operators
Other
Other
D
4,985
4,883
57
44
4,901
4,901
470
470
2,783
3,037
2,325
100
(D)
2,074
(D)
2,415
131
(D)
2,178
(D)
359
27
275
57
623
165
373
85
99
Data suppressed to avoid disclosure of data of individual companies.
84
-18 Statistical
57 Rectification and statistical
44 Rectification and statistical
470
470
2,821
2,821
38
-216
2,298
131
(D)
2,016
(D)
2,298
131
(D)
2,016
(D)
-27
31
(D)
-58
(D)
-117
512
80
275
157
153
53
-111
-98
-28
512
80
275
157
100
99
11
11
-68
-255
-90
-31
(D)
-104
(D)
-264
-138
Statistical
P) Statistical
Statistical
(D) Statistical
-162
-85 Statistical
-98 Statistical
72 Rectification and statistical
11 Definitional and statistical
SURVEY OF CURRENT BUSINESS
November 1998 • Jl
Table 6.1 .—Other Services, Northbound
[Millions of U.S. dollars]
Published estimates
Canadian
U.S.
receipts payments
Reconciled estimates
Difference
U.S.
Canadian Remaining
receipts payments difference
Adjustments to published estimates
United
States
Type of adjustment
Canada
1996
Total
9,371
10,675
-1,304
9,406
9,406
35
5,371
6,196
-325
4,865
4,865
-506
1,279
4,092
1,277
4,919
-827
PI
8
8
3,846
4,330
-484
4,377
4,377
531
659
343
599
443
295
1,309
198
506
519
555
19
637
1,107
788
199
25
174
659
408
599
18
349
1,576
768
659
408
599
18
349
1,576
768
-1,268
Private:
Affiliated
Royalties and license fees
Other services
Unaffiliated
Royalties, license fees, and selected services
Insurance
Financial services
Education
Communications
Business services
.
Sports and entertainment
Other
Commissions
Railway port services
Government:
United States
Canada
63
91
47
102
9,935
10,145
5,647
5,678
1,332
4,315
4,145
1,369
4,309
4,312
994
353
571
461
272
1,311
183
605
590
533
17
539
1,083
738
207
27
180
2
153
-176
44
424
^342
202
-590
-199
8
47
153
65
-425
54
267
570
-111
44
-1
-288
469
-20
Statistical
Statistical
Statistical
Reclassification
Reclassification
Reclassification
Reclassification
and
and
and
and
statistical
statistical
statistical
statistical
-199
-25
-25
-174
16
-11
-1,331 Definitional, reclassification,
and statistical
-174
Definitional
Reclassification
16 Statistical
63
102
63
102
9,696
9,696
-239
-448
5,164
5,164
-483
-514
Statistical
11
1997
Total
-210
Private:
Affiliated
Royalties and license fees
Other services
Unaffiliated
.. .
Royalties, license fees, and selected services
Insurance
Financial services
Education
Communications
Business services
Sports and entertainment
..
Other
Commissions
Railway port services . . .
Government:
United States
Canada
51
92
55
100
1. Royalties and license fees are combined with "other" services for reconciliation.
-31
-37
6
-167
389
-237
38
444
-267
228
-555
-207
.
886
400
571
21
296
1,506
702
4,382
886
400
571
21
296
1,506
702
8
237
47
-440
24
195
519
-190
38
4
-243
423
-36
Statistical
Statistical
Statistical
Reclassification
Reclassification
Reclassification
Reclassification
-207
-27
-27
-180
-4
-8
i
281
-108
Definitional, reclassification,
and statistical
-180
51
100
51
100
Definitional
Reclassification
-4 Statistical
8
Statistical
and
and
and
and
statistical
statistical
statistical
statistical
SURVEY OF CURRENT BUSINESS
52 • November 1998
Table 6.2.—Other Services, Southbound
[Millions of U.S. dollars]
Reconciled estimates
Published estimates
Adjustments to published estimates
Canadian
Canadian
U.S.
Remaining
U.S.
receipts payments Difference receipts payments difference Canada
United
States
Type of adjustment
1996
Total
,
7,634
5091
2543
6,084
6084
-1,550
3,377
2714
663
2,649
2649
-728
185
3,192
128
2586
57
606
PI
(')
0)
4,109
2230
3,293
3293
690
287
316
22
737
1,270
611
176
47
97
32
351
459
178
31
350
735
126
681
400
178
22
360
1,151
501
681
400
178
22
360
1151
501
993
Private:
Affiliated
Royalties and license fees
Other services . .
Unaffiliated
Royalties, license fees, and selected services
Insurance
Financial services
Education
Communications
Business services
Sports and entertainment
Other
Commissions
Railway port services
U S defense expenditures
Government:
Canada
United States
1879
339
-172
138
-9
387
535
485
176
47
97
32
0)
I1)
-816
-9
113
-138
-377
-119
-110
-176
-65 Definitional, ^classification,
and statistical
8
1063
330 Statistical
-59 Statistical
Statistical
-9 Rectification and statistical
10 Rectification and statistical
416 Rectification and statistical
375 Statistical
Definitional
Rectification
Rectification
-47
-97
-32
13
133
148
13
-15
13
128
13
128
-5
8,055
5,852
2,203
6,567
6,567
-1,488
3,692
2995
697
2,922
2922
-770
169
3,523
200
2795
-31
728
4,200
2658
741
309
389
24
643
389
534
244
34
352
939
166
13
-20 Statistical
1997
Total
715
Private:
Affiliated
Royalties and license fees
Other services
. . . .
Unaffiliated
Royalties, license fees, and selected services
Insurance
Financial services
Education
Communications
Business services
Sports and entertainment
Other
Commissions
Railway port services
U S defense expenditures
Government:
Canada
United States
.
...
1298
601
195
54
100
41
13
150
197
1. Royalties and license fees are combined with "other" services for reconciliation.
PI
PI
1542
3,475
3475
352
739
317
244
24
352
1,298
501
739
317
244
24
352
-225
145
-10
291
359
435
195
54
100
41
13
-47
8
-725
-2
8
145
-291
1298
501
-100
-195
-54
-100
-41
13
157
13
157
7
-73 Definitional, ^classification,
and statistical
8
817
350 Statistical
Statistical
Statistical
-10 Rectification and statistical
Rectification and statistical
359 Rectification and statistical
335 Statistical
-217
Definitional
Rectification
Reclassification
13 Statistical
-40 Statistical
SURVEY OF CURRENT BUSINESS
November
Table 7.1 .—Direct Investment Income, Northbound
[Millions of U.S. dollars]
Published estimates
1996
Direct investment income
Earnings of incorporated affiliates
Dividends
Reinvested earnings
Earnings of unincorporated affiliates
Net interest
9,024
8,117
2,218
5,899
507
400
7,347
6,367
2,805
3,562
245
735
1997
Direct investment income
Earnings of incorporated affiliates
Dividends ,
Reinvested earnings
Earnings of unincorporated affiliates
Net interest
.
10,692
9,868
4,536
5,332
521
303
8,305
7,349
3,784
3,565
263
693
Adjustments to published estimates
Reconciled estimates
U.S. Canadian
receipts payments Difference
1,677
1,750
-587
2,337
262
-335
2,387
2,519
752
1,767
258
-390
U.S.
receipts
Canadian Remaining United
payments difference States Canada
8,662
7,632
2,307
5,325
507
523
8,662
7,632
2,307
5,325
507
523
10,425
9,435
4,536
4,899
521
469
10,425
9,435
4,536
4,899
521
469
-362
Type of adjustment
1,315
1,265
-485
89
Definitional, reclassification, and statistical
Statistical
Definitional, reclassification, and statistical
Reclassification, net to gross, and
statistical
-498
1,763
262
-574
123
-212
2,120
2,086
752
1,334
258
-267
-433
^33
166
Definitional, reclassification, and statistical
Statistical
Definitional, reclassification, and statistical
Reclassification, net to gross, and
statistical
-224
Table 7.2.—Direct Investment Income, Southbound
[Millions of U.S. dollars]
U.S.
Canadian
receipts payments
1996
Direct investment income
Earnings of incorporated affiliates
Dividends
Reinvested earnings
Earnings of unincorporated affiliates
Net interest
3,166
1,943
422
1,521
974
248
3,295
2,612
308
2,304
534
148
1997
Direct investment income
Earnings of incorporated affiliates
Dividends
Reinvested earnings
Earnings of unincorporated affiliates
Net interest
4,072
2,939
1,323
1,616
913
221
3,215
3,012
539
2,473
-80
283
Adjustments to published estimates
Reconciled estimates
Published estimates
Difference
-129
-669
114
-783
440
100
857
-73
784
-657
993
-62
Remaining Canada
difference
United
States
3,187
2,399
347
2,052
640
148
21
456
-75
531
^334
-107
-213
3,166
2,571
399
2,172
312
283
-906
-368
-924
Canadian
receipts
payments
3,187
2,399
347
2,052
640
148
3,166
2,571
399
2,172
312
283
U.S.
39
-252
106
-100
556
-601
62
Type of adjustment
Statistical
Statistical
Definitional and statistical
Gross to net and statistical
-49
-441
-140
-301
392
Statistical
Statistical
Definitional and statistical
Gross to net and statistical
53
SURVEY OF CURRENT BUSINESS
54 • November 1998
Table 8.1 .—Other Investment Income, Northbound
[Millions of U.S. dollars]
Published estimates
U.S. Canadian
receipts payments
1996
Other investment income
Adjustments to published estimates
Reconciled estimates
Difference
Canadian Remaining United
payments difference States
U.S.
receipts
Type of adjustment
Canada
9,095
14,926
-5,831
11,848
11,848
2,753
-3,078
Securities
Dividends
Interest on bonds
6,147
1,051
5,096
9,886
805
9,081
-3,739
246
-3,985
9,114
1,051
8,063
9,114
1,051
8,063
2,967
-772
2,967
246
-1,018
U.S. claims/ Canadian liabilities
U S. bank claims
Other private U S claims
2,948
1,213
1,735
5,039
2,690
2,349
-2,091
-1,477
2,734
1,023
1,711
-214
-190
-2,305
-1,667
-614
2,734
1,023
1,711
1997
Other investment income
9,847
16,609
-6,762
12,900
12,900
3,052
-3,709
Securities
Dividends
Interest on bonds
6,115
1,222
4,893
10,554
846
9,708
-4,439
376
-4,815
9,725
1,222
8,503
9,725
1,222
8,503
3,610
-329
3,610
376
-1,205
U.S. claims/ Canadian liabilities
U S bank claims
Other orivate U.S. claims
3,732
3,055
677
6,055
3,544
2.511
-2,323
3,175
1,255
1.920
3,175
1,255
1.920
-1,800
1.243
-489
-1.834
-24
-557
-638
-2,880
-2,289
-591
Definitional, ^classification, and statistical
Definitional and statistical
Net to gross, gross to net, and statistical
Net to gross and statistical
Definitional, reclassification, and statistical
Definitional and statistical
Net to gross, gross to net, and statistical
Net to aross and statistical
Table 8.2.—Other Investment Income, Southbound
[Millions of U.S. dollars]
Published estimates
Canadian U.S. Difference Canadian
receipts
receipts payments
U.S.
payments
1996
Other investment income
6,581
4,429
2,152
4,695
4,683
Securities
Dividends
Interest on bonds
1,624
1,220
404
1,737
1,268
469
-113
^8
-65
1,703
1,268
435
1,703
1,268
435
Canadian claims/ U.S. liabilities
Canadian bank claims
Other Canadian claims
3,879
3,490
389
1,650
1,428
222
2,229
2,062
167
1,933
1,716
217
1,921
1,704
217
U S Government liabilities
1,077
1,042
35
1,059
1,059
1997
Other investment income
Adjustments to published estimates
Reconciled estimates
Remaining Canada United
States
difference
12
12
12
254
79
48
31
-34
-34
Definitional and statistical
Definitional and statistical
-1,946
-1,774
271
276
-5
Net to gross, gross to net, and statistical
Net to gross and statistical
-18
11
7,009
5,138
1,871
4,717
4,706
1,823
1,192
631
2,101
1,320
781
-278
-128
150
2,028
1,320
708
2,028
1,320
708
Canadian claims/ U.S. liabilities
Canadian bank claims
Other Canadian claims
4,127
3,712
415
1,982
1,704
278
2,145
2,008
137
1,630
1,397
233
1,623
1,390
233
7
7
U S Government liabilities
1,059
1,055
4
1,059
1,055
4
-1,886
-172
Securities
Dividends
Interest on bonds
Type of adjustment
-2,291
205
128
77
17
Statistical
-432
-73
-73
-2,497
-2,315
^359
-182
-45
-314
Definitional and statistical
Definitional and statistical
Net to gross, gross to net, and statistical
Net to gross and statistical
Statistical
November 1998
SURVEY OF CURRENT BUSINESS
55
Manufacturing Earnings in BEA
Component Economic Areas, 1996
By G. Andrew Bernat, Jr.
CONOMISTS HAVE long been interested in why
there is so much geographical variation in
E
wages and salaries in the United States. This
article takes a new look at this question by analyzing manufacturing earnings per job among
BEA component economic areas (CEA'S) in 1996,
the most recent year for which data are available
from BEA'S regional accounts.1
The key findings of this analysis follow:
• High-earnings CEA'S—the one-fifth of CEA'S
with the highest average manufacturing earnings per job—have a greater proportion of
manufacturing jobs than do low-earnings
CEA'S—the one-fifth of CEA'S with the lowest average manufacturing earnings per job.
High-earnings CEA'S also have a higher proportion of their manufacturing jobs in industry clusters, allowing establishments in
these CEA'S to take advantage of benefits associated with clustering, such as economies
in transportation and access to common input suppliers. These CEA'S also have large,
well-educated, and diverse populations from
which to draw their workers.
• Results from regression analysis show that
industry mix is the most important factor
associated with average manufacturing earnings per job in CEA'S. The results suggest
that high-wage industries tend to locate in
regions with clusters of similar industries
and with a large, well-educated workforce.
The association between average manufacturing earnings per job and the mix of
i. CEA'S are the counties or groups of counties that make up BEA'S economic areas. The CEA'S were defined during the 1995 redefinition of the BEA
economic areas. The redefinition procedure consisted of three major elements. The first was the identification of "economic nodes," which are the
metropolitan areas or similar areas that serve as centers of economic activity.
The second was the assignment of counties to CEA'S, where a CEA consists of
a single economic node and the surrounding counties that are economically
related to the node; the primary criterion for determining whether counties
were economically related to a node was the level of commuting between
counties. The third was the aggregation of the CEA'S to the economic areas. For more information, see Kenneth Johnson, "Redefinition of the BEA
Economic Areas," SURVEY OF CURRENT BUSINESS 75 (February 1995): 75-81.
regional amenities in CEA'S is weaker, though
significant.2
The remainder of this introduction discusses
why manufacturing was chosen as the focus of the
article and why CEA'S are used in the analysis. The
second section discusses the geographic variation
of manufacturing earnings per job and the factors
associated with manufacturing earnings per job.
The third section discusses the regression analysis. The three appendixes at the end of the article
provide supplementary technical information.
The article focuses on manufacturing because
manufacturing continues to play an important
role in the economy in many areas, despite a
long-run decline in manufacturing's share of the
Nation's earnings and jobs. As measured by share
of total earnings for 1996, manufacturing was the
largest of the n industry groups in 105 of the 348
CEA'S and the second largest in another 87 CEA'S,
and it accounted for at least 25 percent of total
earnings in 94 CEA's.3 Manufacturing's importance to regional economies goes beyond its share
of earnings because it is part of the economic
base in many regions.4 As part of the economic base, manufacturing industries support a
substantial number of jobs in nonmanufacturing
industries through local spending by manufacturing workers and through local purchases by
manufacturing establishments.
Also as part of the economic base, manufacturing may play a unique role in the process of
regional economic growth. Other industries—
such as farming, mining, and producer services—
are often part of the economic base of a region,
2. A regional amenity is a characteristic of a region or location that
people value but that is neither bought nor sold—for example, a pleasant
climate.
3. The other 10 industry groups are farming; agricultural services,
forestry, fishing, and other; mining; construction; transportation and public utilities; finance, insurance, and real estate; wholesale trade; retail trade;
services; and government and government enterprises.
4. The economic base of a region consists of the industries that export
their products outside the region. See Charles M. Tiebout, The Community
Economic Base Study (New York: Committee for Economic Development,
1962) and Gordon F. Mulligan, "Multiplier Effects and Structural Change:
Applying Economic Base Analysis to Small Economies," Review of Urban and
Regional Development Studies 6 (1994): 3-21.
56 • November 1998
SURVEY OF CURRENT BUSINESS
but manufacturing is viewed by some regional
economists as having the greatest potential to lead
a region's growth because many manufacturing
industries have extensive interindustry linkages,
exhibit increasing returns to scale, and have the
ability to innovate.5
Because of the importance of manufacturing
as an employer of local workers, as part of the
economic base, and as a potential source of economic growth, manufacturing is often the focus
of local economic development efforts. For this
reason, identifying the factors most closely associated with regional manufacturing earnings per
job is relevant to the formulation of local and regional economic development policies. However,
policy prescription is beyond the scope of this
article, which attempts only to provide a broad
overview of some of the key factors associated
with the geographic variation in manufacturing
earnings per job.
Manufacturing earnings is the most widely
used measure of the income generated from participation in current manufacturing production
within CEA's.6 Because manufacturing earnings
per job is correlated relatively strongly with per
capita income (the correlation coefficient between manufacturing earnings per job in CEA'S
and per capita income is 0.60 for 1996), a better
understanding of its variation among CEA'S may
help explain why per capita income varies among
regions, a question of longstanding interest in
economics.7
CEA'S are used in this analysis because they are
large enough to encompass most of the economic
activity in a local area yet small enough to permit
the measurement of relatively local phenomena
that may be important in determining the level
of earnings. Counties are inappropriate for this
analysis because a significant number of workers
commute across county boundaries. As a result
of commuting, the correspondence between per
capita income and manufacturing earnings per
5. R.I.D. Harris, "The Role of Manufacturing in Regional Growth," Regional Studies 21 (1987): 301-312. For similar arguments in a national context,
see Stephen S. Cohen and John Zysman, Manufacturing Matters: The Myth
of the Post-Industrial Economy (New York: Basic Books, 1987).
6. Manufacturing earnings is the sum of three components of personal
income—wage and salary disbursements, other labor income, and proprietors' income. Each of these components is measured before the deduction
of personal contributions for social insurance, which is excluded from personal income. For more information, see U.S. Department of Commerce,
Bureau of Economic Analysis, State Personal Income, 1929-93 (Washington,
DC: U.S. Government Printing Office, June 1995): M-53; and Bureau of Economic Analysis, State Personal Income, 1958-96 [CD-ROM] (Washington, DC:
September 1998).
7. See, for example, Daniel H. Garnick and Howard L. Friedenberg, "Accounting for Regional Differences in Per Capita Personal Income Growth,
1929-79," SURVEY 62 (September 1982): 24-34 and Daniel H. Garnick, "Accounting for Regional Differences in Per Capita Personal Income Growth:
An Update and Extension," SURVEY 70 (January 1990): 29-40.
job at the county level is relatively low because
per capita income is measured on a place-ofresidence basis, but manufacturing earnings per
job is measured on a place-of-work basis. In
contrast, CEA'S are defined in such a way that relatively few workers commute across CEA borders,
so the correspondence between per capita income
and manufacturing earnings per job is relatively
high.
States and BEA economic areas are inappropriate for this analysis because they often include
more than one center or node of economic activity. Recent research indicates that industry
clusters—groups of establishments in the same
industry or in related industries located in close
proximity to each other—play an important role
in local economic growth and in determining the
level of average wages. Using either of the large
geographic units would increase the difficulty
of measuring the association between industry
clusters and manufacturing earnings per job.
Factors associated with the geographic variation
in manufacturing earnings per job
One of the most striking aspects of the U.S.
economy is the wide and persistent variation in
wages and earnings per job among regions, the
subject of many studies over the years.8 Wages
and earnings per job vary substantially among
regions for most major industry groupings, but
for manufacturing, the variation is particularly
large. As shown in chart i, high-earnings and
low-earnings CEA'S are found in every BEA region. In 1996, average manufacturing earnings
per job for high-earnings CEA'S was $51,600, 43.7
percent higher than the average for the middlequintile CEA'S, while the average for low-earnings
CEA'S was $27,100, 24.5 percent lower than the
middle-quintile average (table i).
In theory, such a large range between high- and
low-earnings CEA'S would not exist, because if either capital or labor is mobile among regions, the
mobile factor(s) will move from regions with low
returns to regions with high returns and thereby
reduce the differences in earnings per job.9 While
there is by no means a consensus on all the factors
that contribute to regional variation in earnings
per job, most recent studies have identified three
8. While this study examines earnings per job, most other studies examined hourly wages. See, for example, Edward Montgomery, "Evidence on
Metropolitan Wage Differences Across Industries and Over Time," Journal
of Urban Economics 31 (1992): 69-83 and Stephen C. Farber and Robert J.
Newman, "Accounting for South/Non-South Real Wage Differentials and for
Changes in Those Differentials Over Time," The Review of Economics and
Statistics 69 (May 1987): 215-223.
9. Farber and Newman, "Accounting for South/Non-South Real Wage
Differentials and for Changes in Those Differentials Over Time," 216.
SURVEY OF CURRENT BUSINESS
broad groups of factors: Worker characteristics,
regional amenities, and various demand factors.
Over all but relatively short periods of time,
the variation in regional manufacturing earnings
per job is the result of a complex growth process
that involves the interactions among these factors
and among a host of other factors, such as technological change, economic policy, and historical
circumstances. Thus, many of these factors can
be said to contribute to average manufacturing
earnings per job at a point in time, but over
longer periods of time they will be affected by
the level of average manufacturing earnings per
job and by each other. Analysis of this process is
beyond the scope of this article.
Worker characteristics.—Previous studies found
that the most important factors are characteristics of individual workers, such as education, experience, gender, race, health, and
occupation.10 Some of these characteristics—
10. See, for example, Patricia Beeson, "Amenities and Regional Differences
in Returns to Worker Characteristics," Journal of Urban Economics 30 (1991):
224-241; Jennifer Roback, "Wages, Rents, and Amenities: Differences Among
Workers and Regions," Economic Enquiry 26 (January 1988): 23-41: Glenn C.
Blomquist, John P. Hoehn, and Mark C. Berger, "New Estimates of Quality
Manufacturing Earnings Per Job, 1996
|
| High-earnings CEA's
Li Low-earnings CEA's
r
~! All other CEA's
U.S. Department of Commerce, Bureau ol Economic Analysis
November 1998 •
particularly education—relate directly to a
worker's productivity.11 Occupation, experience,
and health also have clear relationships to an individual's productivity and, therefore, to wages
and earnings. Other characteristics, such as gender and race, have no direct relationship to an
individual's productivity but have nevertheless
been shown to be systematically related to an
individual's wages and earnings.
Regional amenities.—The second group of factors is regional amenities. While many of the
earliest studies of regional wage variation focused primarily on worker characteristics, most
of the recent research follows a hedonic approach,
first used by Sherwin Rosen, in which regional
of Life in Urban Areas?American Economic Review 78 (1988): 89-107; John
P. Hoehn, Mark C. Berger, and Glenn C. Blomquist, "A Hedonic Model of
Interregional Wages, Rents, and Amenity Values," Journal of Regional Science
27 (1987): 605-620; and Richard Voith, "Capitalization of Local and Regional
Attributes into Wages and Rents: Differences Across Residential, Commercial,
and Mixed-Use Communities," Journal of Regional Science 31 (1991): 127-145.
11. There is some disagreement over whether the strong relationship
between education and earnings is due to education providing skills that increase the productivity of an individual or whether the educational level is a
screening device for identifying more capable individuals.
57
SURVEY OF CURRENT BUSINESS
5$ • November
amenities play an important explanatory role.12
Climate is perhaps the most obvious example of
a regional amenity; other examples include proximity to beaches and mountains or proximity
to cultural and entertainment facilities, such as
museums, theaters, and shopping districts.13
According to Rosen's hedonic model, workers choose a location for their residence based
on their preferences for the bundle of characteristics associated with each location. A worker
who places a relatively high value on a particular amenity will favor locations with a high value
of the amenity, even if wages are lower than at
other locations. For example, a location with a
warm climate will attract workers with a strong
preference for warm weather. If enough workers
are attracted to the location because of its warm
climate, labor supply will rise relative to colder
but otherwise similar locations, resulting in lower
wages than at the colder locations.14 In the case
12. Sherwin Rosen, "Wage-Based Indexes of Urban Quality of Life," in
Current Issues in Urban Economics, ed. P. Meiszkowski and M. Strazheim
(Baltimore, MD: Johns Hopkins University Press, 1979): 74-104.
13. Economists distinguish between pure amenities, such as natural characteristics of a location that do not change, and produced amenities, such as
good schools, which may change. See Joseph Gyourko and Joseph Tracy, "The
Importance of Local Fiscal Conditions in Analyzing Local Labor Markets,"
Journal of Political Economy 91 (1988): 1208-1231.
14. High-amenity locations may also tend to have higher land rents than
low-amenity locations because the additional population attracted to a location by the amenity leads to a bidding up of land rents. There is some
evidence that ignoring the effect of amenities on land rents may bias estimates
of the value of the amenities downward; see Philip E. Graves and Donald
M. Waldman, "Multimarket Amenity Compensation and the Behavior of the
Elderly," American Economic Review 81 (1991): 1374-1381. However, this bias
may only be important for smaller geographic areas such as cities and coun-
of a disamenity—for example, a high crime rate
or air pollution—wages will tend to be higher
in locations with high disamenities than in other
locations because employers will have to offer relatively high wages to compensate workers for the
presence of the disamenities.
Regional amenities contribute to regional variation in earnings per job because amenities are
distributed unevenly across the country and are
valued unequally by workers. Workers with a
given set of characteristics who value a particular amenity will accept lower earnings per job to
work in an area with high levels of that amenity,
while workers who do not value the amenity
will tend to work for higher earnings per job in
locations with lower values of the amenity. Consequently, earnings per job are expected to be
lower in high-amenity areas than in low-amenity
areas, all other factors being equal.15
Demand factors.—The third group of factors is
included to account for regional differences in
the demand for workers that have different characteristics. One of the most important demand
factors is the mix of industries in the region. Because earnings per job differ substantially among
industries, regions with a high proportion of jobs
in high-wage industries will have higher overall
ties; for example, see J. Vernon Henderson, "Evaluating Consumer Amenities
and Interregional Welfare Differences," Journal of Urban Economics 11 (1982):
32-5915. The regional difference in wages for workers of similar characteristics
is often used as a measure of the value of amenities.
Table 1.—Characteristics of CEA's
Quintiles
Units
(Highearnings
CEA's)
2
3
4
5
(Lowearnings
CEA's)
Manufacturing earnings per job
Thousands of dollars
51.6
40.8
35.9
32.2
27.1
Worker characteristics:
Percentage of workforce with college degree
Percentage of workforce that did not finish high school
Percentage of population that is nonwhite
Percentage of the labor force that is female
Percent
Percent
Percent
Percent
21.0
22.7
16.2
45.5
17.9
24.6
15.8
45.4
16.7
26.1
13.6
45.6
16.6
27.1
14.4
151
297
168
457
Regional amenities:
Cooling degree days
Average January temperature
Average July temperature
Average precipitation
Average elevation
Average commuting time
Crime rate
Hundreds
Degrees
Degrees
Inches
Feet
Minutes
Rate x 100
49.2
31.4
44.6
33.1
43.9
34.2
43.7
34.3
738
379
748
357
747
380
756
374
465
327
758
347
741.0
932.8
1,239.4
1,0654
1 6565
21.1
19.6
Demand factors:
Industry-mix wages and salaries
Manufacturing share of total jobs
Unemployment rate
Population
Population density
Percentage of manufacturing jobs in clusters
Thousands of dollars
Percent
Rate x 100
Thousands
People per square mile
Percent
6.0
5.0
19.0
5.0
455
50
168
40
336
150
63
2896
18.0
5.3
5.6
5.9
346
160
61
1 4147
5505
1 0061
4450
6363
4630
1383
1123
489
357
21 2
38.5
25.0
36.2
22.0
35.6
19.0
145
561
62
SURVEY OF CURRENT BUSINESS
earnings per job than will regions with a large
proportion of jobs in low-earnings industries.
Previous studies used highly aggregated industry
groups to account for industry mix and found
a significant relationship between an individual's
wages and the industry in which the individual
worked.16
A second demand factor is the unemployment
rate. It is often assumed that a high unemployment rate in a region indicates that labor
supply exceeds labor demand, implying a negative relationship between earnings per job and the
unemployment rate. At any given time, however,
the relationship between earnings per job and the
unemployment rate may be positive because labor markets adjust slowly.17 One reason regional
labor markets adjust slowly is that it takes time
for workers to find new jobs or to move to another region. In addition, a region will have
high average wages and a high unemployment
rate if recently unemployed workers remain unemployed in the hope that a high-wage job will
become available, rather than taking a low-wage
job or migrating to another region, as economic
theory suggests.18
A third demand factor is the relative productivity of the regional labor force. One potential
source of productivity differences is the quality
of the regional labor force, which reflects the
characteristics of the workers. Another source
of productivity differences is the agglomeration
of economic activity, which is defined as the
geographic concentration of a large number of
establishments. For example, a city is an agglomeration of establishments in a wide variety of
industries. Another type of agglomeration is an
industry cluster, which is defined as an agglomeration of establishments in the same or related
industries. To the extent that agglomerations
raise output per worker, agglomeration will affect
the regional variation in earnings per job because
of the positive relationship between productivity
and earnings.19
Regression analysis
This section describes the regression analysis
used to measure the association between aver16. For example, Beeson, in "Amenities and Regional Differences" used
three broad industries (manufacturing, government, and construction) to
represent industry mix.
17. For example, see the discussion in Olivier Jean Blanchard and
Lawrence F. Katz, "Regional Evolutions," Brookings Papers on Economic
Activity i (1992).
18. This is called wait unemployment; see Blanchard and Katz, "Regional
Evolutions," 30.
19. See appendix A for a more detailed discussion of agglomeration and
industry clustering.
November 1998 •
age manufacturing earnings per job in CEA'S and
characteristics of CEA'S. The analysis largely follows earlier studies, with three major differences.
First, only manufacturing is examined, rather
than all industries. Second, the dependent variable in the regression is average earnings per job
for each CEA rather than hourly wages for workers, as in most previous studies. Earnings per
job is a more comprehensive measure of labor
compensation than wages per hour because it
includes proprietors as well as wage and salary
workers. In addition, data on earnings per job
are available for all CEA'S, whereas data on hourly
wages are unavailable for many sub-State regions.
The disadvantages of earnings per job are that it
does not account for differences in hours worked
and that it includes both full-time and part-time
jobs.
Third, the unit of analysis for this article is
the CEA, whereas the unit of analysis in most
previous studies was the individual worker. As
a result, all regions of the United States can
be included in the analysis. In contrast, most
previous studies use data only for metropolitan areas because the survey data that must be
used in order to focus on individual workers are
available only for metropolitan areas and States.
However, use of the CEA'S means that it is not
possible to match the characteristics of individual workers with their earnings. Consequently,
the variables representing individual characteristics do not have as much explanatory power as
in previous studies.
The remainder of this section describes the
variables used in estimating the regression model.
Worker characteristics.—Four variables representing worker characteristics are used in this analysis. The first two, the proportion of the
working-age population (persons 25 years or
older) without a high school education and the
proportion with a college degree, relate directly
to the educational attainment of workers. The
other two variables, the percentage of the CEA'S
population that is nonwhite and the percentage
of the CEA'S civilian workforce that is female, are
included because previous studies of individual
workers have shown these two variables to be
significantly related to a worker's wages.
Table i shows that high-earnings CEA'S have a
slightly better educated work force than other
CEA's.20 The average proportion of working-age
adults without a high school education ranged
20. The data are from USA Counties, 1996 [CD-ROM] (Washington, DC:
Bureau of the Census, May 1997).
59
6o • November 1998
SURVEY OF CURRENT BUSINESS
from 22.7 percent in high-earnings CEA'S to 29.7
percent in low-earnings CEA'S. The proportion
of working-age adults with a college education
showed a relatively stronger contrast: 21.0 percent in high-earnings CEA'S, compared with 15.1
percent for low-earnings CEA'S. The proportion
of total population that is nonwhite declines from
the top quintile to the middle quintile and then
increases from the middle quintile to the bottom
quintile. The proportion of the workforce that
is female shows little or no systematic variation
among the five quintile averages.
Regional amenities.—Because economic theory
gives little guidance on which amenity variables
should be included in this type of study, many
different amenity variables have been used in previous studies. The amenity variables included
in this study, representing five pure amenities and two produced amenities, were chosen
based on the availability of data for all CEA'S
and on the results of previous studies. The
pure amenities are cooling-degree days, average
January temperature, average July temperature,
average annual precipitation, and average elevation.21 Of these variables, only average elevation
exhibits a systematic relationship with the average
manufacturing earnings by quintile.
The produced-amenity variables are average
number of serious crimes per 10,000 population
and average commuting time. The quintile with
the highest average manufacturing earnings per
job had the highest crime rate, and the lowest
quintile had the lowest crime rate. The average
length of commute declined with quintile, with
the highest quintile having the longest average
commuting time.
Demand factors.—The six variables representing
demand factors are industry mix, manufacturing's share of total jobs, the unemployment rate,
population, population density, and the share of
manufacturing jobs in industry clusters. The
industry-mix variable is constructed in the following way. First, average wages and salaries per
job by manufacturing industry at the national
level is calculated using data on employment and
on wages and salaries for four-digit Standard
21. A cooling-degree day is a day in which the average temperature is one
degree above the reference temperature of 65 degrees. Cooling degree days
are commonly used in studies of regional wage variation as a broad measure
of climate throughout the year, while average January and July temperatures
are included to account for seasonal extremes. The data for cooling degree
days, average annual rainfall, serious crimes per 10,000 people, and average
commuting time are from the Bureau of the Census' USA Counties, 1996.
Average January and July temperatures and average elevation were calculated
from historical climate data from the U.S. Historical Climatology Network,
National Oceanic and Atmospheric Administration.
Industrial Classification (sic) industries.22 The
earnings-per-job estimates from BEA'S regional
accounts are not used, because these estimates are
available only for two-digit sic industries.
Second, for each CEA, the number of jobs in
each manufacturing industry is multiplied by the
national-average rate for wages and salaries per
job in that industry. The results are summed to
arrive at an estimate of what total manufacturing
wages and salaries would have been for the CEA if
the national-average rate for each industry were
paid. This estimate is divided by total manufacturing jobs in the CEA to arrive at an estimate
of average wages and salaries per job at nationalaverage rates (henceforth called the industry-mix
wages and salaries per job).
Table i shows that high-earnings CEA'S have
higher average industry-mix wages and salaries
than low-earnings CEA'S. However, the range in
industry-mix wages and salaries between highand low-earnings CEA'S is much narrower than
the range in earnings per job, indicating that
industry mix does not explain all the regional
variation in earnings per job.
Manufacturing's share of total jobs in a CEA is
included to account for the industry composition
of the overall CEA economy and is similar to the
industry-mix variables used in previous studies.
Manufacturing industries employed a larger share
of the labor force in high-earnings CEA'S than in
low-earnings CEA'S: 25 percent of total jobs in
high-earnings CEA'S compared with 15 percent in
low-earnings CEA'S.
The unemployment rate is included to account
for imbalances in labor supply and demand. The
average unemployment rate increases from a low
of 5.3 percent in high-earnings CEA'S to a high of
6.3 percent in low-earnings CEA'S.
The remaining three variables are intended to
measure the effects of agglomeration on manufacturing earnings per job. Following relatively standard practice, population is used to
22. The data used in constructing the industry-mix variable are based on
special internal tabulations of data provided by the Bureau of Labor Statistics (BLS) for BEA'S use in constructing its regional accounts. The data are
summarized by county and by four-digit sic industry on form £8-202 by
the State employment security agencies (ESA'S). Each quarter, the ESA'S send
these data to BLS, which edits the data and makes the tabulations available to
BEA. The summarized data are from quarterly State unemployment insurance
(ui) contribution reports, which are filed with an ESA by the employers in
the industries that are covered by, and subject to, that State's ui laws. Under
most of these laws, wages and salaries include bonuses, tips, and the cash
value of meals and lodging provided by the employer—that is, pay-in-kind.
Unlike the earnings-per-job data, these data do not cover proprietors. For
more information, see Bureau of Economic Analysis, State Personal Income,
1929-93, M-8—M-2i; and Bureau of Economic Analysis (BEA), Regional Economic Information System, 1969-96 [CD-ROM] (Washington, DC: BEA, May
1998).
SURVEY OF CURRENT BUSINESS
account for urbanization economies.23 As expected, high-earnings CEA'S were more populous
than low-earnings CEA'S: High-earnings CEA'S
had an average population of 1,414,700, compared with an average of 289,600 for low-earnings
CEA'S. In order to account for the wide range
in both population and geographic size of CEA'S,
population per square mile is also included;
as expected, high-earnings CEA'S had substantially higher average population density than
low-earnings CEA'S.
Localization economies are represented by the
share of CEA manufacturing employment in
an industry cluster, where clusters were identified using the local Moran statistic.24 As
table i shows, high-earnings CEA'S have a substantially higher proportion of manufacturing
jobs in clusters than low-earnings CEA'S: For
high-earnings CEA'S, the average is 48.9 percent;
for low-earnings CEA'S, it is only 6.2 percent.
The final group of variables included in the
regression are dummy variables representing the
location of each CEA in terms of the eight BEA
regions. These variables are included to account
for differences unaccounted for by the other variables but that are systematically related to the
broad geographic location of each CEA.
CEA characteristics associated with
manufacturing earnings per job
Table 2 summarizes the regression results, presenting only the variables that were statistically
23. Many researchers use population and population density in studies
of agglomeration economies, though some researchers have criticized their
use. For a discussion, see Ronald Moomaw, "Is Population Scale a Worthless
Surrogate for Business Agglomeration Economies?" Regional Science and
Urban Economics 13 (1983): 525-545.
24. See appendix B for a discussion of the process of identifying clusters
using the local Moran statistic.
November 1998
significant (for more detailed results, see appendix C). The third column shows the value
of the estimated coefficient for each explanatory
variable. These coefficients indicate the change
in average manufacturing earnings per job in a
CEA that would be associated with a one-unit
change in the row variable, holding all other
variables constant. For example, an increase
of i percentage point in the proportion of the
working-age population with at least a college
degree is associated with an increase of $192 in
average manufacturing earnings per job. Because
the dependent variables are measured in different
units, the estimated coefficients do not provide a
good basis for comparison.
One way to assess the relative effects of the dependent variables is to calculate elasticities from
the regression coefficients. An elasticity shows
the percent change in one variable that is associated with a i-percent change in another variable.
The elasticities of average manufacturing earnings per job with respect to the explanatory
variables, evaluated at the average values of the
explanatory variables, are presented in the fourth
column. Industry mix has by far the largest
elasticity: A i-percent change in industry-mix
wages and salaries is associated with a 2.3-percent
change in average manufacturing earnings per
job. However, even though the elasticities are
in the same units (percent), comparisons may
be misleading because some of the explanatory
variables have a much larger range (difference between the highest and lowest value) than others.
Consequently, a i-percent change in a variable
with a small range represents a much larger proportionate change than does a i-percent change
in a variable with a large range. For example, a
i-percent increase in the industry-mix wages and
Table 2.—Summary of Regression Results
Coefficient
Explanatory variables
Elasticity
Beta
rnpffiripnt
Units
Dollars
Percent
Dollars
Worker characteristics:
Percentage of workforce with college degree
Percentage of workforce that did not finish high school
Percentage of population that is nonwhite
Percent
Percent
Percent
192
-148
100
0089
-103
041
1 030
-1 050
1,170
Regional amenities:
Average January temperature
Average elevation
Crime rate
Degrees
Hundreds of feet
Rate x 1QO
-120
-100
329
-.106
-.029
044
-1,540
-1,340
710
2452
273
2333
141
.317
.005
.016
5380
2680
890
570
760
Demand factors:
Industry-mix wages and salaries
.
Manufacturing share of total jobs
Population
.
Population density
Percentaae of manufactured iobs in clusters
. . . . Thousands of dollars
Percent
Thousands
People per square mile
Percent
917
1
24
6l
62 • November 1998
SURVEY OF CURRENT BUSINESS
salaries for a CEA with the all-CEA average is equal
to 2.7 percent of its total range while a i-percent
change in the proportion of manufacturing jobs
in clusters for a CEA with the all-CEA average is
equal to only 0.3 percent of this variable's total
range.
To account for these very different variances,
"beta coefficients" were calculated. Beta coefficients indicate the effect that a change of i
standard deviation in an explanatory variable has
on the dependent variable, in this case manufacturing earnings per job.25 The beta coefficients
are presented in the fifth column, in dollars of
manufacturing earnings per job.
Worker characteristics.—Both education variables
were statistically significant and had the expected
signs. The coefficient of 0.192 on the percent of
the working-age population with a college degree
indicates that an increase of i percentage point
in this proportion is associated with a $192 increase in average manufacturing earnings per job,
while a i-percent increase in the percent of the
work-age population that did not complete high
school is associated with a $148 decrease in average manufacturing earnings per job. However,
the positive association between manufacturing
earnings per job and the percent of the labor force
that is nonwhite is the opposite of what other
studies have found.
The beta coefficients indicate relatively larger
effects than the estimated coefficients. For instance, a i-standard-deviation increase in the
college proportion would be associated with a
$1,030 increase in average manufacturing earnings per job, compared with a $1,050 decrease for
a i-standard-deviation increase in the proportion
of the working-age population without a high
school education.
Regional amenities.—The results on regional
amenities, consistent with previous studies, indicates that warmer climates are associated with
lower earnings per job. Average January temperature and average elevation are the two pure
amenities that were statistically significant. A
higher average January temperature is associated
with lower average manufacturing earnings per
job ($120 lower for a i-degree increase and $1,540
for a i-standard-deviation increase). A loo-foot
increase in average elevation is associated with a
25. The standard deviation is the most widely used statistical measure of
the variation of a variable. A variable has a large standard deviation if many
observations are much greater or much smaller than the average value. A
variable has a small standard deviation if all observations are close to the
average value. For more information about beta coefficients, see Robert
Pindyck and Daniel Rubinfeld, Econometric Models and Economic Forecasts
(New York: McGraw-Hill Book Company, 1976).
$100 decrease in manufacturing earnings per job,
while a i-standard-deviation increase is associated
with a $1,340 decrease.
As expected, higher crime rates are associated
with higher earnings per job. A i-percentagepoint increase in the crime rate is associated with
a $329 increase in average manufacturing earnings
per job, and a i-standard-deviation increase in
the crime rate is associated with a $710 increase.
Demand factors.—The results of this study, unlike
those of studies of individual workers, indicate
that industry mix is the factor most strongly associated with average manufacturing earnings per
job. The regression coefficient on the industrymix variable indicates that a $1,000 increase
in industry-mix wages and salaries would be
associated with a $2,452 increase in manufacturing earnings per job. The associated elasticity
is 2.3, and the beta coefficient indicates that
a i-standard-deviation increase in industry-mix
wages and salaries would be associated with a
$5,380 increase in manufacturing earnings per
job.
The regression coefficients for all the other
demand factors except the unemployment rate
were also statistically significant. The population
variables indicate that larger, more densely populated CEA'S have higher earnings per job, even
after accounting for other factors. Manufacturing earnings per job are also higher in CEA'S in
which manufacturing accounts for a large share
of total jobs. A i-percentage-point increase in the
share of manufacturing jobs is associated with
a $273 increase in manufacturing earnings per
job, while a i-standard-deviation increase is associated with a $2,680 increase in earnings per
job. Industry clusters are also associated with
higher average earnings per job; a i-percentagepoint increase in the share is associated with
a $24 increase in earnings per job, while a istandard-deviation increase is associated with a
$760 increase in earnings per job.
Regional effects.—None of the regional dummy
variables were statistically significant, indicating
that no statistically significant regional variation
remains after accounting for the other variables
included in the regression analysis.
Appendix A: Agglomeration and industry
clusters
Agglomerations exist for a variety of reasons. Establishments may cluster near input suppliers to
reduce the transportation costs associated with
acquiring inputs or near customers to reduce
SURVEY OF CURRENT BUSINESS
transportation costs related to the distribution of
their products to customers. Establishments may
also locate in clusters if establishments located
in clusters are more productive than establishments outside of clusters. Productivity will be
higher in clusters if there are external economies
associated with clustering or "clustering-related
externalities," which are factors that are beyond
the control of the establishment but that affect
the productivity of capital, labor, or both. To the
extent that clustering-related externalities raise
output per worker, clustering will affect the regional variation in earnings per job because of the
positive relationship between productivity and
earnings.
Economists distinguish two types of clusteringrelated externalities: Those associated with the
size and diversity of the local economy, called
urbanization economies, and those associated
with the clustering of similar industries, called
localization economies.
Urbanization economies raise the productivity
of establishments because a large local economy
will tend to have a large, diverse labor force
and a wide range of services and input suppliers. The availability of a diverse labor force raises
average labor productivity by increasing the likelihood that the demands for different types of
labor can readily be satisfied from the local labor
market. A large local market makes it possible
for input suppliers to specialize, raising overall
productivity.
Localization economies raise productivity in at
least two ways. First, the local labor market for
an industry cluster is more likely to have a pool of
workers with specialized skills than would the labor market for a relatively isolated establishment.
The larger pool of skilled labor increases the likelihood that an establishment in the cluster will
be able to hire workers with exactly the needed
skills, when the workers are needed. The better
matching of workers and jobs results in higher
average labor productivity, all other things being equal. In addition, recent research indicates
that the higher the quality of the overall labor
force, the faster workers gain skills they need.27
To the extent this is true, workers in clusters will
26. See John M. Quigly, "Urban Diversity and Economic Growth," Journal
of Economic Perspectives 12 (Spring 1998): 127-138 and Francisco L. RiveraBatiz, "Increasing Returns, Monopolistic Competition, and Agglomeration
Economies in Consumption and Production," Regional Science and Urban
Economics 18 (1988): 125-153.
27. E.L. Glaeser and D.C. Mar£, "Cities and Skills," NBER Working Paper
No. 4728 (1994) and Robert Gibbs and G. Andrew Bernat, Jr., "Rural Industry Clusters Raise Local Earnings," Rural Development Perspectives 12 (1998):
18-25.
November 1998 •
be more skilled and hence more productive than
otherwise similar workers not in clusters.
Second, establishments located in clusters are
likely to have better access to information about
markets and technology than are establishments
located in relative isolation because of what are
called "knowledge spillovers" from nearby establishments. The term "knowledge spillover"
refers to the spread from one firm or establishment to another of information about technology
or markets. For example, suppose a firm develops an improved method of producing a
particular product. A knowledge spillover occurs when other firms find out about the new
method and use it to improve their production process. Because many knowledge spillovers
occur informally—for example, when workers
employed by the innovating firm take jobs at
other firms—they are more likely to occur among
establishments located in clusters than among
isolated establishments.
When knowledge spillovers occur, innovations
spread among establishments, raising the productivity of both capital and labor throughout the
cluster. Commonly cited examples of this type
of clustering are the computer and related establishments in the Silicon Valley of California
and the Route 128 corridor in Massachusetts, the
financial district in New York City, and carpet
manufacturers in Dalton, Georgia.
Appendix B: Measuring dusters
The concept of an industry cluster involves the
establishments' proximity to one another, while
the concept of agglomeration economies involves
both proximity and the extent to which establishments are affected by nearby establishments. The
local Moran statistic, or "local Moran," which
measures whether "neighbors" of a given spatial
unit have higher or lower values than would be
expected from a random distribution of values,
was used to measure the proximity of establishments.28 The local Moran for a given industry is
calculated using the following formula:
i - x)
where LMi is the local Moran for county i\
X{ and Xj are the number of establishments in
counties i and j, respectively; Jc is the mean
28. For more information on the local Moran statistic, see Luc Anselin,
"Local Indicators of Spatial Association—LISA," Geographical Analysis 2 (1995):
93-115-
SURVEY OF CURRENT BUSINESS
64 • November
number of establishments for all counties; and
w is the spatial weights matrix. A spatial
weights matrix has a row and a column for each
county. If two counties are "neighbors/5 defined as having geographic centers 100 miles or
less apart, the corresponding element of iv is
equal to one. If the counties are not neighbors,
the element of w is zero. The spatial weights
matrix used in calculating the local Moran is normalized so that the sum of each row is equal
to one.
Table 3.—Regression Results
Coefficient
Intercept
-56.7383
t-value
p-value
-4.0292 0.0001
Worker characteristics:
Percentage of workforce with college degree
Percentage of workforce that did not finish high school
Percentage of population that is nonwhite
Percentage of the labor force that is female
.1917
-.1478
0999
-.3162
2.8613
-2.2074
3.3221
-1.5984
.0045
.0280
.0010
.1109
Regional amenities:
Cooling degree days
Average January temperature
Average July temperature
Average precipitation
Average elevation
Average commuting time
Crime rate
-0151
-.1195
0011
.0143
-.0010
.1366
.3287
-.4611
-2.4387
1.5413
.1504
-3.4438
1.2415
2.6279
.6450
.0153
1242
.8806
.0006
.2153
.0090
Demand factors:
Unemployment rate
Population
Population density
Manufacturing share of total jobs .
Percentage of manufacturing jobs in clusters
Industry-mix wages and salaries
.1922
.9169
0007
.2728
.0242
2.4519
1.6706 .0958
3.1349 .0019
22330 .0262
8.7338 0
2.3127 .0214
18.6565 0
Regional dummy variables:
New England
Mideast
Southeast .
Plains
Southwest
Rocky Mountain
Far West
-3153
1.6486
-.8418
-.8653
-.8136
-.3311
1.1051
-.2342
1.8048
-.7048
-.8432
-.6279
-.2109
.7611
.8149
.0720
.4815
.3998
.5305
.8331
.4472
Measuring the extent to which nearby establishments affect each other is a more difficult task
because there are so many ways this can occur.
Input-output accounts show which industries are
closely linked in terms of input purchases, but as
yet no satisfactory measure has been developed
that combines this information with a measure
of spatial proximity.
The cluster variable used in the regression was
constructed in the following way. First, the local Moran was calculated for each county and
industry. If the local Moran for a given county
and industry was statistically significant, then the
county was considered part of a cluster for that
industry, and all jobs in the county for that industry were considered to be in the cluster. Second,
the total number of jobs in clusters in all counties within a given CEA were summed. Third,
this sum was divided by the number of manufacturing jobs in the CEA to yield the share of
total manufacturing jobs for that CEA that are in
clusters.
Appendix C: Regression results
The regression equation was estimated using ordinary least squares. The adjusted R-squared
was 0.83, and the F-statistic was 71.1, which is
significant at the i-percent level. One regional
dummy variable—for the Great Lakes region—is
omitted, as required for regressions with dummy
variables. Even though many of these variables are interrelated, standard tests indicated
that the results were not significantly affected by
either multicollinearity or spatial autocorrelation,
two commonly encountered problems with this
type of regression analysis. The results of the
regression are summarized in table 3. £3
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SURVEY OF CURRENT BUSINESS
66
November 1998
Personal Income by State and Region,
Second Quarter 1998
By Duke Tran
The quarterly
estimates of State
personal income
are prepared by the
Regional Economic
Measurement
Division.
N THE second quarter of 1998, U.S. personal
income increased $78.0 billion, or 1.1 percent
(table A).1 By region, the largest increase was in
the Southeast, which accounted for 22 percent of
the growth (chart i). This increase was largely
accounted for by Florida, Georgia, Virginia, and
North Carolina. By State, California accounted
for the largest share (16 percent) of the increase
in U.S. personal income.
By type of income, most of the increase in U.S.
personal income was accounted for by a $62.1
billion increase in net earnings.2 Dividends, interest, and rent increased $9.1 billion, and transfer
payments increased $6.8 billion.
U.S. earnings by place of work increased $66.3
billion (table B). Earnings increased in all the
industries except manufacturing; the largest increases were in services ($27.6 billion) and finance, insurance, and real estate ($10.7 billion).
The decline in manufacturing earnings partly reflected the effects of a strike in the motor vehicle
industry.
Table i at the end of this article presents the
quarterly estimates of personal income for each
State and region, beginning with the first quarter
of 1995. Table 2 presents the quarterly estimates of personal income by major source and
of earnings by Standard Industrial Classification
division, beginning with the first quarter of 1997.
The quarterly estimates of State personal income have been revised back to the first quarter
of 1982 to incorporate the results of the annual
revision of the State estimates that were presented in the October 1998 SURVEY OF CURRENT
BUSINESS.3
Growth rates by type of income, by industry,
and by region
The second-quarter growth in personal income
of 1.1 percent was smaller than the i.4-percent
growth rate in the first quarter.4 By type of income, growth decelerated in transfer payments
(from 1.6 percent to 0.6 percent) and in net earnings (from 1.7 percent to 1.3 percent); growth
accelerated in dividends, interest, and rent (from
0.3 percent to 0.8 percent). In the first quarter,
transfer payments had been boosted by costof-living adjustments to benefits under social
3. See Bailey, "State Personal Income," 20-41.
4. In this article, the percent changes are expressed at quarterly rates.
CHART 1
Regional Shares of the U.S. Dollar Change
in Personal Income, 1998:1-1998:11
(U.S. dollar change=$78 billion)
1. This estimate of personal income for the Nation is derived as the
sum of the State estimates; it differs from the estimate of personal income
in the national income and product accounts (NIPA'S) because of differences
in coverage, in the methodologies used to prepare the estimates, and in the
timing of the availability of source data. For a detailed description of the
differences, see the box "Relation of Personal Income in the National Income
and Product Accounts (NIPA'S) and in the State Personal Income Series" in
Wallace K. Bailey, "State Personal Income, Revised Estimates for 1982-97,"
SURVEY OF CURRENT BUSINESS 78 (October 1998): 21.
2. Net earnings are by place of residence and are calculated as earnings
by place of work less personal contributions for social insurance plus an adjustment that converts these earnings to a place-of-residence basis. Earnings
by place of work is the sum of wage and salary disbursements (payrolls),
other labor income, and proprietors' income.
Net earnings is often used to analyze changes in the composition of
personal income; earnings by place of work is often used to analyze changes in
the industrial structure of earnings. For the definitions of the components of
earnings, see U.S. Department of Commerce, Bureau of Economic Analysis,
State Personal Income, 1929-93 (Washington, DC: U.S. Government Printing
Office, 1995), or go to BEA'S Web site at <www.bea.doc.gov/bea/mp.htm>,
and look under Regional programs for State Personal Income, 1929-93.
Southwest (12.5%)
Great Lakes (13.9%)
Plains (6.6%)
New England
(6.1%)
Rocky
Mountain
(3.8%)
Mideast
(14.4%)
Southeast (22.1%)
Far West (20.6%)
U.S. Department ol Commwce, Bureau <* Economic Analysis
SURVEY OF CURRENT BUSINESS
security and other Federal retirement and income
support programs.
By industry, growth in earnings by place of
work decelerated in the second quarter in all the
industries except farms and retail trade.
By region, the deceleration in personal income
growth was widespread: Personal income grew
more slowly in all the regions except New England. In all these regions, growth decelerated in
transfer payments and, except in the Plains and
Southeast, in net earnings. In New England, personal income grew 1.1 percent after growing 0.5
percent; growth accelerated in net earnings and
in dividends, interest, and rent.
Growth rates by State
In the second quarter, the growth rates in personal income in all the States and the District
of Columbia exceeded the o.2-percent increase
in the prices paid by U.S. consumers (as measured by the price index for personal consumption
expenditures).
The States with the fastest rates of growth in
personal income were Nevada (2.0 percent), Ari-
November 1998 •
zona (1.8 percent), South Carolina (1.7 percent),
Utah (1.6 percent), and Vermont (1.6 percent)
(chart 2). By type of income, net earnings accounted for most of the personal income growth
in all these States, but transfer payments and
dividends, interest, and rent also contributed
(table A). By industry, earnings in services was
the major contributor to growth in earnings by
place of work in all these States (tables C and D).
In Nevada, earnings in construction, retail trade,
and government also contributed substantially;
the rapid growth in construction earnings reflected new construction of hotels and casinos.
In Arizona, earnings in government and in finance, insurance, and real estate also contributed
substantially; in South Carolina, earnings in
manufacturing, retail trade, and government; and
in Utah and Vermont, earnings in manufacturing and construction. In Utah, the rapid
growth in construction earnings reflected new
road construction.
The States with the slowest rates of growth in
personal income were South Dakota (0.4 percent), Hawaii (0.5 percent), New Jersey (0.5
Personal Income: Percent Change, 1998:1-1998:11
NH 1.2
L WA 0.9
/ I—.
.
/
V
MA 1.3
UNITED STATES 1.1%
HI 0.5
Q Fastest growing States
Q Slowest growing States
[n All other States
U.a Department of Commerce, Bureau of Economic Analysis
67
68 • November 1998
SURVEY OF CURRENT BUSINESS
percent), and Michigan (0.6 percent). By industry, the growth in earnings in all these States was
slowed by declines in manufacturing earnings.
In South Dakota, the decline in manufacturing
earnings mainly reflected a stepdown in lumpsum payments from a high level in the first
quarter, and in Michigan, it mainly reflected the
effects of a strike in the motor vehicle industry
in the second quarter. In South Dakota, a de-
cline in earnings in farms also contributed to the
slow growth in earnings. In Hawaii, declines in
earnings in government, construction, and transportation and public utilities also contributed.
In New Jersey, a decline in earnings in finance,
insurance, and real estate, mainly reflecting a
stepdown in lump-sum payments from a high
level in the first quarter of 1998, also contributed.
Tables A through D and i and 2 follow. Q
SURVEY OF CURRENT BUSINESS
November 1998
69
Table A.—Personal income by Component, 1998:1-1998:11
[Seasonally adjusted]
Percent change l
Personal
income
1.1
United States
1.1
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
c
1.0
1c
l!2
1.1
1.6
.
.8
1.3q
Mideast
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania
.
....
.7
c
i!i
Contribution to percent change
in personal income
(percentage points)
, , Percent
Net earnDivichange in Net earnings by
Divipersonal ings by
Transfer
dends,
place of interest, payments income l
dends, Transfer
place of interest,
resi- 2 and rent
payments
residence
dence2 and rent
Personal
income
0.1
0.1
77,986
62,053
9,137
6,796
4,786
3,920
•j
.1
.1
.1
.1
.1
.1
0
1,035
282
2,569
396
286
217
806
232
2,113
330
252
187
588
168
29
300
45
23
23
278
61
21
156
22
11
8
11,253
8,640
278
66
1,100
1,291
6,256
2,262
230
43
784
847
5,134
1,602
1,406
28
11
179
301
568
320
1,206
20
12
138
143
555
340
10,809
4,422
8,585
3,694
1,329
1,587
1,046
1,170
1,515
1,160
1,459
481
171
325
300
182
765
247
112
91
239
76
546
62
107
143
167
32
16
20
337
48
33
40
158
40
1
17
2,112
114
69
586
278
102
108
57
275
106
164
223
30
1,934
138
67
548
165
130
122
87
208
110
156
166
37
862
185
44
80
554
954
174
61
87
631
339
191
42
23
62
19
182
88
24
19
40
11
1,825
15
1,284
41
112
140
233
1,140
36
791
41
55
100
117
1.J
0.8
0.6
1.1
1.4
1.0
1.4
1.6
1.4
15
.1
Ji
t
A
1.1
.9
1.0
1.3
1.2
1.1
1.6
.*
.7
.8
1.2
!e
.7
2.'l
1.0
1.6
/
.8
c
{A
!e
.9
5
!s
.6
.7
4
.7
.6
.6
.6
c
c
r
.£.
<3
£
0.9
§<
is
1.1
1.0
1.0
1.3
.6
1.1
r
.£.
C
r
.£.
.1
.1
.1
.1
C
r
c
.0
i!i
'\
.6
.7
5
.8
.8
.8
.8
.7
.8
.4
.5
c
.9
1.3
9
.8
1.1
.7
2
.5
.4
'.B
.7
1.1
e
.1
c
.1
!9
.1
.7
c
1.1
1.1
1.0
1.3
1.2
1.0
.7
.4
.9
.9
.8
1.1
1.0
.8
.6
.1
.1
.2
.1
.1
.1
.1
.1
.4
.1
.1
.1
.1
.1
.1
.1
.1
.1
.1
.1
.1
.1
.1
.7
.8
Great Lakes
Illinois
Indiana
Michigan
Ohio
Wisconsin
.9
1.3
.9
.6
.7
1.1
1.1
Plains
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
1.1
1.1
1.0
1.3
1.2
1.0
.7
.4
1.4
1.3
1.2
1.6
1.5
1.2
1.0
.2
'.B
.7
.7
.4
.7
.7
.5
.5
.3
.2
.7
.7
0
.6
1.1
1.0
.8
1.4
1.4
1.0
.8
1.0
.9
1.7
.7
1.0
.8
1.3
1.0
.8
2.0
1.6
1.1
.9
1.1
1.0
2.1
.7
1.1
1.0
.8
.9
.9
.7
1.0
.8
.8
.9
1.1
.9
1.0
.7
.6
.7
.7
.6
.8
.6
.8
.6
.7
.7
.7
.7
.6
.4
1.1
1.0
.8
1.4
1.4
1.0
.8
1.0
.9
1.7
.7
1.0
.8
.9
.7
.5
1.1
1.1
.7
.6
.7
.7
1.4
.5
.8
.6
.1
.1
.1
.2
.1
.1
.1
.1
.2
.1
.1
.1
.1
.2 |
.1
.1
.1
.2
.1
.2
.1
.1
.1
.1
.1
1.4
1.8
1.0
1.0
1.4
1.6
2.2
1.1
1.2
1.6
.9
1.1
.8
.8
.8
.9
1.0
.9
.6
.9
1.4
1.8
1.0
1.0
1.4
1.1
1.5
.7
.8
1.2
.1
.2
.1
.1
.1
1.4
1.5
1.5
.9
1.6
.9
1.7
1.8
1.8
1.1
1.9
1.0
1.0
1.0
1.0
.7
1.1
.8
.6
.6
.6
.5
.7
.6
1.4
1.5
1.5
.9
1.6
.9
1.2
1.2
1.2
.6
1.4
.6
1.3
1.2
1.4
.5
2.0
1.5
.9
1.6
1.3
1.7
.3
2.3
1.8
.9
.9
.8
.8
.8
1.4
1.0
.9
.6
1.2
.6
.8
.9
.8
.5
1.3
1.2
1.4
.5
2.0
1.5
.9
1.1
.9
1.2
.2
1.6
1.2
.6
,
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
. . . .
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
.
Virginia .
West Virginia
.
.
Southwest
Arizona
New Mexico
Oklahoma
Texas
Rocky Mountain
Colorado
...
Idaho
Montana
Utah
Wyoming
Far West
Alaska
California
Hawaii ...
Nevada
Oregon
Washinoton
.
.
.
. . ..
1.6
1.1
.7
.8
1.3
1. Percent changes are expressed at quarterly rates and are calculated from unrounded data.
2. Net earnings by place of residence is earnings by place of work—the sum of wage and salary disbursements
(payrolls), other labor income, and proprietors' income—less personal contributions for social insurance plus an ad-
Dollar change (millions)
.1
.1
.1
0
.1
.1
.1
.1
.1
2,054
1,418
Net earn
ings by
place of
residence 2
5,159
708
640
1,655
1,600
398
98
60
4,277
17,205
13,159
872
404
5,287
2,567
819
760
503
1,655
1,326
937
1,799
276
620
269
4,152
2,125
588
530
359
1,172
1,109
617
1,409
209
.1
.2
.2
.1
.1
9,712
1,914
336
690
6,773
7,896
1,554
231
523
5,588
.2
.2
.2
.1
.1
.2
.1
.1
.1
.1
.1
.1
2,978
2,457
1,650
378
157
690
102
1,371
312
115
588
72
.2
.1
.1
.1
.2
.2
2
.1
.2
.1
.1
.1
.1
.1
16,083
13,118
.1
0
.1
.1
0
.1
.1
187
136
12,362
10,286
144
916
1,167
1,307
62
750
928
957
justment to convert earnings by place of work to a place-of-residence basis.
NOTE.—Estimates may not add to totals because of rounding.
598
501
1,472
1,276
325
82
23
Dividends, Transfer
interest, payments
and rent
SURVEY OF CURRENT BUSINESS
JO • November 1998
Table B.—Earnings by Place of Work: Dollar Change by Industry Group, 1998:1-1998:11
[Millions of dollars, seasonally adjusted]
Private services-producing industries
Private goods-producing industries
Earnings
by place
of work l
Total2
Farms
Construc- Manufaction
turing
Total
Transportation
and public utilities
Wholesale
trade
Retail
trade
Finance,
insurance,
and real
estate
Services
Government
66,278
6,573
995
5,321
-46
52,958
1,206
5,033
8,458
10,688
27,574
6,747
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
4,074
748
246
2,333
292
251
203
341
146
24
52
7
24
87
26
8
0
14
1
1
2
98
-40
4
16
25
56
38
163
162
14
_-j
-24
-36
48
3,378
561
213
2,100
224
168
113
-318
-426
13
84
4
6
1
283
112
17
110
32
5
7
392
47
39
209
50
24
22
830
333
46
348
43
44
16
2,193
495
97
1,350
96
88
67
355
41
9
181
61
60
3
Mideast
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania
9,166
289
-61
819
422
6,003
1,695
-13
59
14
78
61
6
0
16
6
12
22
491
-31
-6
168
15
387
294
-669
82
13
215
-299
-276
-403
8,544
196
-100
675
599
5,414
1,761
-88
2
-26
9
75
-74
-75
815
1
3
27
244
368
171
1,357
17
8
92
305
517
418
1,708
92
30
201
-1,200
2,134
451
4,753
83
347
1,175
2,469
794
635
34
25
66
77
425
7
Great Lakes
Illinois
Indiana
Michiaan
Ohio
Wisconsin
9,084
3,967
1,074
1,228
1,618
1,197
-81
-34
-11
20
-37
-19
914
143
27
264
342
139
-1,204
632
-20
-1,109
-689
-18
8,168
2,897
891
1,767
1,704
909
94
170
-31
25
-69
0
911
299
97
207
203
104
1,403
372
183
398
293
157
1,581
668
142
232
362
176
4,179
1,388
500
904
915
472
1,223
299
188
269
286
181
-113
-93
49
-30
-23
28
2
-46
403
126
76
119
99
-55
30
7
224
25
-140
179
129
109
6
-34
3,599
519
466
1,215
939
255
63
141
86
48
22
3
10
0
1
3
386
62
23
116
160
10
0
16
659
86
113
167
201
50
8
34
757
93
70
258
213
81
13
28
1,711
231
238
672
355
115
41
61
523
65
44
119
284
6
-11
15
1,414
128
87
301
125
92
116
32
88
132
151
170
-8
-706
-145
-30
153
241
-114
-184
7
-408
200
-337
-163
74
11,566
530
49
3,660
1,467
657
622
252
1,321
705
595
1,595
114
279
-15
27
68
74
58
67
1
-55
32
-13
51
-15
964
44
33
261
115
45
53
43
127
79
26
134
4
1,765
131
524
272
115
105
53
201
180
197
198
31
2,101
106
50
697
351
78
73
40
256
123
98
213
17
6,457
264
182
2,110
655
360
324
116
792
291
285
999
78
1,288
61
64
197
217
5
76
81
145
166
210
14
52
United States
.
Plains
Iowa
Kansas
Minnesota
Missouri .
Nebraska
North Dakota
South Dakota
4,676
654
496
1,611
1,443
355
89
27
.
-255
164
-73
-307
770
-5
-807
-373
108
554
70
-13
276
219
94
37
-129
-115
14,150
641
271
4,449
2,263
643
560
384
1,243
1,206
641
1,632
217
1,297
50
158
592
579
-19
23
50
532
72
92
70
179
14
9
15
75
-6
11
-1
2
Southwest
Arizona
New Mexico
Oklahoma
Texas
8,444
1,662
246
561
5,974
1,002
207
-24
-36
854
38
58
-29
-61
70
758
65
42
46
605
383
92
-35
4
322
6,518
1,098
229
526
4,664
642
35
21
39
547
548
81
16
22
429
901
153
60
83
605
1,137
243
27
66
801
3,290
586
105
315
2,283
924
357
41
71
455
Rocky Mountain
Colorado
Idaho
Montana
Utah
Wyoming
2,625
1,464
336
123
626
75
692
257
182
10
217
26
85
23
26
25
5
7
60
-5
-20
-22
85
23
535
226
162
7
138
1
1,685
1,104
135
81
324
40
71
67
-9
-15
29
1
121
103
2
5
9
0
345
199
50
22
62
12
293
176
38
16
56
6
855
558
54
54
167
22
248
103
19
32
84
9
14,059
157
11,019
63
815
1,044
960
3,007
-7
1,467
-36
198
339
1,046
446
0
371
6
2
21
45
1,183
25
805
-6
141
17
201
1,229
-32
167
-58
65
286
781
9,500
143
8,349
120
518
606
-236
439
38
302
-26
20
50
55
1,006
2
766
3
12
72
151
1,635
31
1,124
14
96
122
248
2,282
20
1,808
28
87
106
234
4,137
52
4,349
100
303
256
1,552
22
1,204
-21
100
98
150
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia .
West Virginia
Far West
Alaska
California
Hawaii
Nevada
Oregon
Washington
.
,
...
-138
51
-223
336
-163
1. Earnings by place of work is the sum of wage and salary disbursements (payrolls), other labor income, and
proprietors' income.
-243
2. Also includes mining and agricultural services, forestry, and fishing.
NOTE.—Estimates may not add to totals because of rounding.
-923
November 1998 • Jl
SURVEY OF CURRENT BUSINESS
Table C.—Earnings by Place of Work: Percent Change by Industry Group, 1998:1-1998:11
[Seasonally adjusted at quarterly rates]
Private goods-producing industries
Earnings
by place
of work l
United States
New England
.
Connecticut
Maine
Massachusetts
New Hampshire ....
Rhode Island
Vermont
. . . .
.
.
Total2
1.5
0.5
1.4
.9
\A
1.6
1.3
1.5
2.1
t
.7
a
f
.c
.1
.6
3.0
Farms
2.5
5.1
6.C
Private services-producing industries
Construc- Manufaction
turing
1.8
0
f
Total
Transpor- Wholetation
sale
and pub- trade
lic utilities
Retail
trade
Finance,
insurance,
and real
estate
Services
Government
1.8
0.4
1.6
1.9
2.5
1.9
0.9
-1.9
-9.0
1.2
1.1
.3
.7
.2
1.5
2.0
1.8
1.1
2.0
.7
1.4
1.5
.7
1.8
1.7
2.0
1.6
2.2
2.7
2.9
3.7
2.4
2.7
3.4
3.1
2.3
2.0
1.9
2.7
1.6
1.6
2.5
1.0
.5
.3
1.1
2.6
2.2
.2
.7
-1.0
A
.2
1.8
6.7
5.3
-12
2.4
1.8
1.1
2.0
2.2
1.7
1.7
2.2
8.0
3.0
3.5
3.8
1.1
-2.6
-1.4
-2.6
.2
2.5
2.5
-.5
1.8
1.3
2.4
-1.1
-.6
-.9
1.4
2.1
_5
l!2
5
l!9
1.4
-.1
.3
-1.8
.2
.5
-.3
-.5
1.4
.2
1.0
.5
1.5
1.6
1.4
1.9
1.2
.9
1.0
2.1
1.9
2.1
1.3
3.8
1.5
2.7
-6.8
2.6
2.6
1.6
2.1
-.8
1.1
2.1
1.9
1.2
.4
1.7
.2
.3
.3
.8
0
.£.
9.4
2.4
3.0
2.2
i!c
.4
0
_c
Mideast
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania
1.0
1.7
r\
—.C.
9
2
1.5
.8
Great Lakes
Illinois
Indiana
Michigan
Ohio
Wisconsin
1.1
1.6
1.0
.7
.8
1.3
1.2
0
-1.1
-.5
.3
-1.8
-2.2
-1.1
3.7
-2.7
-26.1
1.9
1.1
.4
2.7
3.0
2.4
-.5
1.3
-.1
-1.9
-1.3
-.1
1.8
1.9
1.8
1.9
1.6
2.0
.2
.9
-.5
.3
-.6
0
1.6
1.6
1.7
1.7
1.5
1.8
1.9
1.9
1.9
2.5
1.5
1.9
2.6
2.6
2.4
2.3
2.7
2.9
2.0
1.9
2.3
2.0
1.8
2.2
1.2
1.0
1.6
1.1
1.1
1.5
Plains
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
1.4
1.4
1.1
1.6
1.5
1.2
.9
.2
.6
.4
-.1
1.0
.8
1.2
1.9
-3.7
-1.5
-3.9
4.3
-3.2
-2.3
2.2
1.1
-5.9
1.9
4.3
2.7
2.0
1.6
^.0
4.2
1.0
.3
.2
-1.6
.9
.7
2.6
.7
-5.0
1.9
2.1
1.9
2.1
1.7
1.5
1.1
2.3
.3
1.6
.6
0
.1
0
.1
.4
1.6
1.9
.7
1.5
2.5
.5
0
2.3
2.1
1.9
2.5
1.9
2.2
1.8
.9
2.7
3.0
2.7
2.6
3.1
2.9
3.8
2.5
3.8
2.0
2.2
2.2
2.6
1.4
1.5
1.6
2.1
1.1
.9
.6
1.0
2.2
.1
-.6
.8
1.3
1.0
.8
2.0
1.6
1.1
.9
1.1
.9
2.2
.7
1.3
1.0
.5
.3
1.3
1.5
1.7
-.1
-.8
.5
-.5
1.8
-.6
.1
.8
4.9
9.1
7.0
4.2
10.7
1.3
2.0
2.5
3.3
-1.5
4.1
-.2
2.1
3.2
4.1
2.1
1.5
2.6
2.3
1.4
1.0
3.4
2.6
2.2
-.6
-.4
-1.1
-.4
.8
1.1
-.9
-2.1
.1
-1.3
1.5
-1.7
-1.0
2.2
1.9
1.6
.3
2.4
1.7
2.2
1.8
1.5
2.0
2.6
1.1
2.1
1.0
.4
-.4
.9
.5
.6
1.3
1.3
0
-.7
1.0
-.2
.6
-.9
1.5
1.2
1.8
1.8
.9
1.4
1.5
2.5
1.6
2.7
.4
1.9
.4
1.6
2.1
-5.7
2.0
2.1
1.9
1.7
1.5
1.6
2.9
2.0
1.8
1.4
2.9
2.8
2.8
3.3
3.3
2.7
2.3
2.6
3.1
4.0
1.7
2.3
1.9
2.2
1.7
2.4
2.7
1.8
2.7
1.9
1.4
2.6
2.4
1.1
2.6
1.4
.7
.5
1.2
.6
1.0
.1
.7
1.2
.7
1.7
1.8
.1
1.3
1.6
2.2
1.0
1.2
1.6
.7
1.2
-.5
-.3
.8
.9
10.6
-7.4
-7.1
2.9
2.3
1.2
2.5
2.1
2.6
.5
.9
-1.8
.1
.5
2.2
2.4
1.8
2.1
2.1
1.5
.8
1.4
1.0
1.6
1.6
1.7
1.6
1.0
1.7
1.8
1.9
2.2
1.8
1.8
3.1
3.7
2.3
2.8
3.0
2.4
2.7
1.6
2.8
2.3
1.2
3.3
.7
.8
.9
Rocky Mountain
Colorado
Idaho
Montana
Utah
Wyoming
1.7
1.8
1.9
1.1
1.9
1.0
1.8
1.4
3.1
.4
2.6
1.1
4.4
3.7
3.8
7.2
2.7
6.8
.5
-.1
-1.3
-2.1
3.1
3.6
2.8
2.3
5.1
.8
2.8
.3
1.8
2.1
1.4
1.2
1.6
1.2
.5
.8
-.7
-1.7
1.2
-.1
1.4
2.1
.2
.8
.5
.2
2.2
2.5
2.6
1.5
1.7
1.5
2.6
2.6
4.1
2.4
2.3
1.9
2.0
2.3
1.3
1.7
1.8
1.6
1.0
.9
.6
1.4
1.5
.6
Far West
Alaska
California
Hawaii
Nevada
Oregon
Washington
1.6
1.3
1.7
.3
2.4
1.8
.9
1.5
-.3
1.0
-1.4
2.9
2.0
3.8
5.6
3.7
6.1
3.7
4.4
3.5
4.2
2.3
2.5
2.4
-.4
3.5
.4
2.9
.9
-5.1
.2
-4.6
3.9
2.5
4.2
1.8
2.4
2.1
.9
2.2
1.8
-.4
.8
2.8
.7
-1.4
1.0
1.4
.7
1.9
.6
1.9
.4
.8
1.6
2.2
2.0
2.6
2.0
.5
2.8
1.9
2.4
3.3
4.1
3.3
1.6
3.5
2.7
3.6
1.5
2.0
2.1
1.5
2.1
1.7
-2.8
1.2
.6
1.3
-.4
2.3
1.2
.8
.
.
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
Southwest
Arizona
New Mexico
Oklahoma
Texas
..
.
0
1.0
.8
c
—.7
n
.£
-.1
-.1
4.5
8.4
1. Earnings by place of work is the sum of wage and salary disbursements (payrolls), other labor income, and
proprietors' income.
2. Also includes mining and agricultural services, forestry, and fishing.
NOTE—Percent changes are calculated from unrounded data.
SURVEY OF CURRENT BUSINESS
72 • November 1998
Table D.—Earnings by Place of Work: Contribution to Percent Change by Industry Group, 1998:1-1998:11
[Seasonally adjusted]
Percentage points
Percent
change in
earnings
by place
of work l
Private services-producing industries
Private goods-producing industries
Total
Total2
Farms
Construc- Manufaction
turing
Transportation
and public utilities
Wholesale
trade
Finance,
insurance,
and real
estate
Retail
trade
Services
Government
1.3
0.1
0
0.1
0
1.1
0
0.1
0.2
0.2
0.5
0.1
1.4
.9
1.4
1.6
1.3
1.5
2.1
.1
.2
.1
0
0
.1
.9
0
0
0
0
0
0
0
0
0
0
0
.1
.3
.4
.1
.2
.1
0
-.1
-.2
.5
1.2
.7
1.2
1.5
1.0
1.0
1.2
-.1
-.5
.1
.1
0
0
0
.1
.1
.1
.1
.1
0
.1
.1
.2
.1
.2
.1
.2
.3
.4
.3
.2
.2
.3
.2
.7
.6
.5
.9
.4
.5
.7
.1
0
1.0
1.7
-.2
.9
.2
1.5
.8
0
.3
0
.1
-.1
0
0
0
0
0
0
0
0
0
.1
-.2
0
-.2
0
.1
.1
-.1
.5
0
.2
-.2
-.1
-.2
.9
1.1
-.3
.7
.3
1.3
.8
0
0
.1
.1
0
.1
.2
.1
.2
.2
.5
.1
.2
-.7
.5
.2
.5
.5
-.3
.4
.7
.6
.4
.1
.2
.1
.1
0
.1
0
1.1
0
.3
0
-.4
-.2
.1
0
0
0
0
0
0
.1
.1
0
.1
.2
.2
-.1
.3
0
-.6
-.3
0
1.0
1.2
.9
.9
.8
1.0
0
1.6
1.0
.7
.8
1.3
.2
.1
.2
.2
.1
.2
.2
.3
.1
.1
.2
.2
.5
.6
.5
.5
.5
.5
.1
.1
.2
.1
.1
.2
1.4
1.4
1.1
1.6
1.5
1.2
.9
.2
.2
.1
0
.3
.2
.3
.4
-1.1
0
-.2
.1
.3
.2
.1
.1
-.2
.3
.1
.1
.1
-.3
.2
.1
.4
.1
-.7
1.1
1.1
1.0
1.2
1.0
.9
.7
1.2
0
.2
.2
.3
.2
.2
.2
.1
.3
.2
.2
.2
.3
.2
.3
.1
.2
.5
.5
.5
.7
.4
.4
.4
.5
.2
.1
.1
.1
.3
0
-.1
.1
1.3
1.0
.8
2.0
1.6
1.1
.9
1.1
.9
2.2
.7
1.3
1.0
.1
.1
.4
.3
.4
0
-.2
.1
-.2
.6
-.2
0
.2
.1
.2
.2
.1
.1
.2
.2
.1
.1
.2
.2
.1
0
-.1
-.2
-.1
.1
.2
-.2
-.3
0
-.3
.4
-.4
-.1
.3
1.1
.8
.1
1.6
1.0
1.1
1.0
.7
1.0
1.3
.6
1.2
.5
0
0
.2
.2
-.7
.2
.2
.2
.2
.2
.2
.3
.2
.2
.1
.2
.2
.1
.3
.2
.1
.1
.1
.2
.2
.1
.2
.1
.6
.4
.5
.9
.5
.6
.5
.3
.6
.5
.3
.8
.4
.1
.1
.2
.1
.2
0
.1
.2
.1
.3
.2
0
.2
Southwest
Arizona
New Mexico
Oklahoma
Texas
1.6
2.2
1.0
1.2
1.6
.2
.3
-.1
-.1
.2
.1
.1
.2
.1
.2
.1
.1
-.1
0
.1
1.3
1.5
1.0
1.1
1.3
.2
.2
.3
.2
.2
.2
.3
.1
.1
.2
.6
.8
.4
.7
.6
.2
.5
.2
.2
.1
Rocky Mountain
Colorado
Idaho
Montana
Utah
Wyoming
1.7
1.8
1.9
1.1
1.9
1.0
.4
.3
1.0
.1
.6
.3
-.2
.3
.3
.3
.3
.9
.1
.4
0
1.1
1.3
.7
.7
1.0
.5
.2
.2
.3
.2
.2
.2
.2
.2
.2
.1
.2
.1
.6
.7
.3
.5
.5
.3
.2
.1
.1
.3
.2
.1
1.6
1.3
1.7
.3
2.4
1.8
.9
.3
-1
.2
-.2
.6
.6
.9
.1
.2
.1
0
.4
0
.2
.1
-.3
0
-.2
.2
.5
.7
1.1
1.1
1.3
.5
1.5
1.0
-.2
.2
.2
.2
.1
.3
.2
.2
.3
.2
.3
.1
.2
.2
.2
.5
.4
.7
.5
.9
.4
-.8
.2
.2
.2
-.1
.3
.2
.1
United States
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
. . .
Mideast
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania
. ..
. ..
Great Lakes
Illinois
Indiana
Michigan
Ohio
Wisconsin
Plains
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
. .
,
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
Far West
Alaska
California
Hawaii
Nevada
Oregon
Washington
. . . .
. . . .
. .
.. .
.. .
. .
.
.. .
0
0
.1
.1
0
-.4
.1
.1
.3
0
.1
0
0
0
.1
0
0
0
0
.1
-.1
-.1
0
.1
.1
0
.2
0
.1
.1
0
.1
0
0
0
0
1. Earnings by place of work is the sum of wage and salary disbursements (payrolls), other labor income, and
proprietors' income.
Percent changes are expressed at quarterly rates and are calculated from unrounded data.
0
0
-.1
-.1
0
0
0
0
.1
.1
0
0
0
.1
.1
.1
.1
.1
.1
.1
.1
.1
.1
.1
.1
.1
.1
0
0
0
0
.1
0
0
0
0
0
0
.1
0
.1
.1
.1
0
0
.1
0
0
-.1
.1
0
.1
.1
.1
0
.1
-.1
-.1
.1
0
0
.3
0
-.1
.1
.1
0
.2
0
0
.1
.1
.1
.1
.1
.1
.1
.1
.1
.1
.1
0
.1
0
.1
.1
.1
0
.1
.1
.1
0
0
0
0
.1
0
.1
0
0
.1
.1
2. Also includes mining and agricultural services, forestry, and fishing.
NOTE.—Estimates may not add to totals because of rounding.
.1
.1
.3
.4
0
SURVEY OF CURRENT BUSINESS
November 1998
Table 1.—Personal Income by State and Region
[Millions of dollars, seasonally adjusted at annual rates]
1995
Area name
United States
I'-
. .
If
1997
1996
UK
IV
r
\
II'-
1
III "
IV
l
r
II
r
Percent change
1998
III'-
IV
I-
\\P
1997:IV1998:1
1998:11998:11
1.4
1.1
422,811
122,398
27,944
198,083
33,904
26,334
14,148
.5
1.0
-.2
.4
-.1
.4
.4
1.1
.9
1.0
1.3
1.2
1.1
1.6
1,168,773 1,177,598 1,186,970 1,200,728 1,221,822 1,240,073 1,252,618 1,268,123 1,286,623 1,294,001 1,307,359 1,325,111 1,338,687 1,349,940
20,984
21,253
21,571
19,557
20,461
20,535
19,894
20,338
21,849
18,040
18,399
18,228
18,809
19,188
18,810
19,109
18,041
18,518
18,556
18,785
19,174
18,304
18,516
17,685
17,900
18,114
17,769
17,776
150,167
143,530
146,626
149,076
137,271
140,885
145,008
151,267
129,789
131,621
132,996
135,367
139,168
130,755
256,574
264,072
269,107
257,195
260,425
246,138
251,583
270,398
232,328
234,314
238,649
242,577
248,770
236,056
543,202
551,121
558,018
562,848
525,046
535,929
545,785
569,104
494,307
502,044
528,586
497,847
507,533
517,969
306,921
304,338
309,418
313,883
315,885
276,624
294,019
297,896
300,872
318,147
278,684
284,840
288,607
281,073
1
1.5
1.6
.7
1.9
.9
.6
.8
1.3
.3
.7
.5
1.1
.7
Great Lakes
Illinois ...
Indiana .
Michigan
Ohio
Wisconsin
998,966 1,002,627 1,010,742 1,024,339 1,033,924 1,050,139 1,063,992 1,072,260 1,089,826 1,102,775 1,112,544 1,128,280 1,144,562 1,155,371
338,659
342,221
325,755
330,778
333,773
313,159
317,533
320,850
346,643
294,780
303,621
308,925
296,221
298,855
133,922
135,332
138,446
140,370
129,059
136,081
141,699
123,304
123,464
124,202
125,446
126,961
130,819
131,890
248,308
255,184
233,247
240,721
242,939
245,346
226,291
229,018
229,192
235,191
236,881
256,771
225,155
224,581
275,434
266,513
269,357
271,661
278,952
256,422
260,150
281,005
244,240
248,230
251,428
252,533
261,335
246,168
122,915
124,369
125,683
127,433
111,487
118,252
120,299
121,304
127,836
129,254
113,164
114,825
116,312
112,191
1.4
1.1
1.4
2.8
1.3
.3
.9
1.3
.9
.6
.7
1.1
Plains
Iowa
Kansas ..
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
392,184
57,353
54,620
107,683
113,349
33,965
11,574
13,639
465,711
68,045
64,881
129,837
133,230
40,284
13,355
16,080
1.2
.3
1.1
2.1
1.2
.6
.8
1.3
1.1
1.1
1.0
1.3
1.2
1.0
.7
.4
1,300,230 1,311,781 1,326,883 1,350,262 1,367,913 1,394,180 1,415,301 1,429,538 1,458,543 1,473,455 1,489,403 1,507,310 1,524,915 1,542,120
90,682
88,320
88,980
89,630
84,773
85,991
86,601
91,485
92,357
80,324
81,688
82,531
83,276
80,839
49,646
50,281
47,100
47,670
47,867
48,605
49,280
50,780
51,185
44,114
44,547
45,539
45,853
43,776
357,042
369,115
341,387
346,580
350,981
361,288
365,944
372,556
322,644
335,661
377,843
318,709
328,319
315,990
167,154
176,047
177,802
181,816
185,692
170,174
171,867
179,814
156,577
160,632
162,790
188,259
152,731
154,021
79,137
80,111
81,836
82,772
73,702
75,097
76,466
77,071
80,926
73,014
83,591
70,812
71,358
71,860
87,634
90,825
88,603
91,797
92,557
82,317
82,701
83,507
84,830
85,778
86,350
89,315
80,091
80,884
48,574
50,240
47,678
49,183
49,548
50,902
46,178
47,045
47,790
51,405
44,227
44,788
45,538
43,939
175,072
171,247
177,401
156,392
160,437
165,042
169,423
154,837
162,905
172,550
179,056
150,975
148,051
149,658
78,017
79,083
72,985
76,399
77,101
79,116
69,709
70,904
71,575
74,191
74,876
80,442
69,021
68,399
124,373
116,739
120,220
121,295
122,656
125,169
110,972
113,205
115,098
117,933
126,106
109,794
112,809
108,673
173,447
177,257
179,640
165,494
167,897
174,637
182,660
159,004
184,459
157,517
163,260
169,745
155,952
161,233
34,346
32,781
33,696
33,233
33,414
33,926
34,099
34,585
34,861
32,515
31,492
31,639
31,803
32,206
1.2
.9
1.0
.9
2.1
1.1
1.1
1.3
1.3
0
.6
1.7
.7
1.1
1.0
.8
1.4
1.4
1.0
.8
1.0
.9
1.7
.7
1.0
.8
New England
Connecticut
Maine ...
Massachusetts
New Hampshire ,
Rhode Island
Vermont
Mideast ....
Delaware
District of Columbia ,
Maryland
New Jersey
New York
Pennsylvania
Southeast .
Alabama
Arkansas
Florida ...
Georgia .
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia ..
West Virginia
5,967,461 6,018,892 6,082,265 6,171,934 6,269,149 6,373,076 6,459,289 6,534,446 6,652,349 6,729,607 6,807,743 6,893,137 6,992,622 7,070,608
357,442
103,187
24,297
166,446
28,365
22,905
12,243
361,896
103,982
24,588
168,846
29,039
23,166
12,275
395,297
57,628
54,976
108,739
114,487
34,086
11,702
13,680
366,184
105,285
24,670
171,309
29,136
23,380
12,404
399,104
58,241
55,579
109,627
115,559
34,599
11,681
13,818
371,417
106,653
25,027
173,963
29,665
23,517
12,591
405,533
59,271
56,296
111,755
116,874
35,307
11,955
14,077
375,401
108,076
25,357
175,454
30,109
23,602
12,801
416,904
61,593
57,616
114,644
118,805
36,779
12,728
14,740
381,684
109,850
25,742
178,711
30,502
23,935
12,945
424,059
62,644
58,354
116,850
120,589
37,550
12,985
15,087
386,940
111,408
26,130
181,154
30,954
24,168
13,126
430,228
63,596
59,244
118,705
122,100
37,990
13,286
15,308
392,636
112,865
26,516
184,185
31,373
24,530
13,167
434,037
63,687
59,959
119,487
123,703
38,644
13,204
15,354
400,057
115,568
26,860
187,604
31,770
24,886
13,368
439,487
65,011
60,909
120,635
126,407
38,546
12,720
15,260
404,197
116,716
27,117
189,401
32,264
25,235
13,465
445,613
65,973
62,031
122,568
127,403
39,103
12,901
15,634
408,687
117,801
27,250
191,843
32,863
25,404
13,527
450,253
66,344
62,753
124,079
128,724
39,473
13,050
15,828
416,018
120,173
27,718
194,783
33,536
25,939
13,869
454,888
67,110
63,555
125,545
130,068
39,656
13,146
15,808
418,025
121,364
27,662
195,514
33,508
26,047
13,931
460,552
67,337
64,241
128,182
131,630
39,887
13,256
16,020
Southwest
Arizona .
New Mexico
Oklahoma
Texas ....
563,435
84,131
29,882
59,845
389,576
571,717
85,251
30,109
60,369
395,988
579,757
87,244
30,525
60,839
401,149
590,088
89,193
30,916
61,820
408,160
600,186
91,126
31,338
62,584
415,138
610,071
92,654
31,706
63,506
422,205
619,471
94,329
32,014
64,167
428,961
628,078
95,380
32,251
64,978
435,469
644,274
97,701
32,771
66,605
447,197
655,280
99,266
33,242
67,061
455,712
666,804
100,940
33,449
67,492
464,924
674,515
102,821
33,724
67,052
470,919
690,059
104,457
34,018
68,288
483,296
699,771
106,370
34,353
68,978
490,069
2.3
1.6
.9
1.8
2.6
1.4
1.8
1.0
1.0
1.4
Rocky Mountain
Colorado
Idaho
Montana
Utah
Wyoming
171,069
88,965
21,642
15,723
34,955
9,783
172,633
89,774
21,810
15,795
35,386
9,868
175,474
91,545
22,083
15,959
35,965
9,922
179,473
93,252
22,750
16,148
37,283
10,039
182,156
95,225
22,926
16,252
37,632
10,121
185,753
97,008
23,428
16,473
38,577
10,268
188,626
,98,654
23,612
16,665
39,266
10,429
191,109
100,169
23,753
16,837
39,825
10,525
195,137
102,352
24,225
17,042
40,785
10,734
198,256
104,256
24,563
17,226
41,423
10,787
201,525
106,213
24,905
17,392
42,109
10,905
203,850
107,813
25,029
17,603
42,440
10,965
207,808
110,448
25,469
17,784
43,026
11,081
210,786
112,098
25,847
17,941
43,715
11,183
1.9
2.4
1.8
1.0
1.4
1.1
1.4
1.5
1.5
.9
1.6
.9
1,015,361 1,025,344 1,037,152 1,050,092 1,070,844 1,087,117 1,102,112 1,118,664 1,138,403 1,156,030 1,171,168 1,183,167 1,208,014 1,224,097
15,352
15,750
14,482
14,627
14,631
14,751
14,837
14,986
15,229
15,230
14,418
15,936
14,417
14,358
861,047
793,055
881,275
781,805
802,404
814,814
828,319
841,373
853,328
757,627
766,298
893,636
743,198
749,955
30,659
30,864
29,342
29,642
30,390
30,704
29,495
29,570
29,824
30,162
31,008
29,134
29,360
29,756
40,990
39,971
41,977
42,754
44,297
45,470
46,152
37,922
43,660
38,798
44,670
47,069
36,373
36,955
72,387
79,090
68,237
70,917
75,017
76,524
77,276
80,253
69,837
73,855
78,275
81,420
66,186
67,026
136,412
151,549
153,722
131,182
133,954
139,368
147,465
148,960
129,605
141,418
144,753
155,029
126,054
127,690
2.1
2.6
2.3
.7
1.5
1.5
1.4
1.3
1.2
1.4
.5
2.0
1.5
.9
Far West ..
Alaska ...
California
Hawaii ....
Nevada ..
Oregon ...
Washington
pr Preliminary.
Revised
NOTE.-The personal income level shown for the United States is derived as the sum of the State estimates.
It differs from the national income and product accounts (NIPA) estimate of personal income because, by definition,
it omits the earnings of Federal civilian and military personnel stationed abroad and of U.S. residents employed
* *" *°
*""
SURVEY OF CURRENT BUSINESS
November 1998
Table 2.—Personal Income by Major Source
[Millions of dollars, seasonally
New England
United States
Item
Line
Income by Place of Residence
Personal income (lines 4-11) ,
Nonfarm personal income .,
Farm income (line 17)
1997
6,652,349
6,606,242
1997
408,687
408,055
632
416,018
415,444
574
418,025
417,511
514
422,811
422,271
540
292,076
19,012
5,731
278,796
74,643
62,580
1,336
61,243
292,911
19,102
5,792
279,602
74,892
63,531
1,373
62,158
296,986
19,353
74,197
61,444
1,398
60,046
285,001
18,538
5,656
272,119
74,469
62,098
1,377
60,721
283,522
75,480
63,809
1,309
62,500
225,469
23,141
29,280
221
29,059
228,512
23,131
29,710
257
29,453
231,690
23,143
30,169
280
29,889
238,107
23,496
30,473
225
30,248
238,386
23,485
31,041
156
30,884
241,887
23,666
31,432
168
31,264
575
277,315
243,895
611
280,743
247,080
1,537
233
13,720
52,830
35,671
17,158
15,314
18,319
24,867
28,990
91,270
632
284,369
250,449
1,595
236
13,932
53,830
36,498
17,333
15,464
18,527
25,207
29,208
92,450
33,920
5,414
1,244
27,262
574
291,502
257,280
1,617
242
14,397
55,456
37,804
17,652
15,948
19,022
26,080
29,468
95,050
34,222
5,437
1,223
27,562
514
292,397
258,529
1,703
244
14,919
540
296,445
262222
1,757
244
15,016
54,971
37,219
17,752
16,150
19,636
26,141
31,485
96,821
34,224
5,528
1,196
27,499
46,108
6,729,607
6,682,096
47,510
6,807,743
6,761,224
46,519
6,893,137
6,850,451
42,687
6,992,622
6,953,573
39,049
7,070,608
7,030,564
40,044
400,057
399,481
575
Derivation of Personal Income
Earnings by place of work (lines 12-16 or 17-34)
Less: Personal contributions for3 social insurance 2
Plus: Adjustment for residence
Equals: Net earnings by place of residence
Plus: Dividends, interest, and rent4
Plus: Transfer payments
State unemployment insurance benefits
Transfers excluding State unemployment insurance benefits .
4,717,528
319,056
-3,694
4,394,777
1,157,256
1,100,316
20,448
1,079,868
4,786,270
323,224
-3,776
4,459,271
1,163,612
1,106,724
19,444
1,087,280
4,855,971
327,692
-3,852
4,524,427
1,169,428
1,113,888
19,172
1,094,716
4,936,687
333,088
-3,925
4,599,673
1,173,016
1,120,448
18,944
1,101,504
5,021,193
340,434
^,031
4,676,728
1,176,971
1,138,923
19,195
1,119,728
5,087,471
344,592
-4,098
4,738,781
1,186,108
1,145,719
19,183
1,126,536
277,890
18,097
5,541
265,333
73,912
60,812
1,494
59,318
Earnings by Place of Work
Components of earnings:
Wage and salary disbursements
Other labor income 5
Proprietors' income
Farm proprietors' income
Nonfarm proprietors' income
3,793,352
389,432
534,744
30,648
504,096
3,850,864
391,312
544,094
32,018
512,076
3,911,348
393,340
551,283
31,051
520,232
3,985,992
396,764
553,931
27,291
526,640
4,058,597
402,519
560,077
23,262
536,815
4,114,394
405,438
567,639
23,618
544,021
46,108
4,671,420
3,963,644
47,510
4,738,760
4,026,308
29,920
42,232
272,492
847,236
520,296
326,940
327,072
302,776
435,356
406,528
1,362,696
712,452
134,600
47,528
530,324
46,519
4,809,452
4,091,856
30,848
42,832
275,820
859,788
529,200
330,588
334,120
307,672
441,152
415,356
1,384,268
717,596
133,684
47,652
536,260
42,687
4,894,000
4,171,680
31,208
43,748
282,400
881,272
545,140
336,132
339,984
313,892
448,384
423,048
1,407,744
722,320
133,544
47,424
541,352
39,049
4,982,144
4,251,317
32,006
44,095
290,434
891,712
551,776
339,935
343,500
319,498
455,939
435,477
1,438,657
730,827
135,582
48,081
547,164
40,044
5,047,427
4,309,853
33,012
43,391
295,755
Earnings by Industry
Farm
Nonfarm
Private
Agricultural services, forestry, fishing, and other6
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
Government and government enterprises
Federal, civilian
Military
State and local
41,620
268,364
835,404
511,392
324,012
321,328
297,152
432,060
400,736
1,337,984
707,776
135,264
47,832
524,680
549,561
342,105
344,706
324,531
464,397
446,165
1,466,231
737,574
136,216
47,517
553,842
1,499
225
13,740
52,216
35,082
17,135
14,907
17,803
24,719
28,869
89,917
33,420
5,519
1,256
26,644
404,197
403,586
611
281,354
18,313
5,515
268,556
33,663
5,465
1,254
26,943
New Hampshire
Item
Line
Income by Place of Residence
Personal income (lines 4-11)
Nonfarm personal income
Farm income (line 17)
Derivation of Personal Income
Earnings by place of work (lines 12-16 or 17-34)2
Less: Personal contributions for3 social insurance
Plus: Adjustment for residence
Equals: Net earnings by place of residence
Plus: Dividends, interest, and rent4
Plus: Transfer payments
State unemployment insurance benefits
Transfers excluding State unemployment insurance benefits ,
Earnings by Place of Work
Components of earnings:
Wage and salary disbursements .
Other labor income 5
Proprietors' income
Farm proprietors' income
Nonfarm proprietors' income
Earnings by Industry
Farm
Nonfarm
Private
Agricultural services, forestry, fishing, and other 6 .
Mining
Construction
,
Manufacturing
Durable goods
Nondurable goods
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
Government and government enterprises
Federal, civilian
Military
State and local
See footnotes at end of table.
1998
37,080
17,727
16,468
19,354
25,749
30,656
94,629
5,481
1,204
27,183
5,889
Rhode Island
1997
1997
1998
32,264
32,219
45
32,863
32,817
45
33,536
33,494
42
33,508
33,468
40
33,904
31,727
43
33,863
41
24,886
24,854
32
25,235
25,201
34
25,404
25,370
34
25,939
25,908
30
26,047
26,021
26
26,334
26,306
27
20,444
1,437
2,711
21,718
5,936
4,116
34
4,082
20,916
1,469
2,711
22,157
5,961
4,147
31
4,116
21,482
1,510
2,725
22,697
5,984
4,182
33
4,149
22,114
1,555
2,765
23,325
5,999
4,213
37
4,176
21,995
1,548
2,779
23,226
6,018
4,264
31
4,233
22,287
1,567
2,836
23,556
6,062
4,286
31
4,255
15,761
1,251
1,001
15,510
4,316
5,060
169
4,892
16,043
1,266
1,005
15,782
4,325
5,128
142
4,985
16,076
1,262
1,029
15,843
4,335
5,227
158
5,069
16,576
1,299
1,040
16,318
4,341
5,280
151
5,128
16,607
1,304
1,047
16,350
4,348
5,349
151
5,199
16,858
1,322
1,067
16,602
4,371
5,360
135
5,225
16,283
1,756
2,405
17
16,693
1,779
2,444
18
2,426
17,196
1,809
2,478
19
2,459
17,747
1,847
2,520
15
2,505
17,603
1,822
2,570
13
2,557
17,850
1,835
2,603
13
2,590
13,038
1,259
1,464
21
1,442
13,294
1,260
1,490
23
1,466
13,325
1,242
1,509
23
1,485
13,790
1,271
1,516
20
1,496
13,796
1,267
1,544
16
1,528
14,006
1,278
1,574
16
1,558
43
20,400
18,068
111
19
1,202
4,614
3,288
1,326
1,226
1,413
2,403
1,380
5,699
2,332
381
44
1,907
45
20,870
18,505
113
19
1,226
4,801
3,442
1,359
1,248
1,449
2,439
1,416
5,794
2,365
376
44
1,946
45
21,437
19,007
117
42
22,072
19,660
120
21
1,288
5,197
3,790
1,407
1,310
1,557
2,574
1,542
6,051
2,413
390
44
1,979
40
21,955
19,570
41
32
15,728
13,127
100
8
754
3,100
1,914
1,187
806
796
1,456
1,115
4,991
2,602
533
230
34
16,009
13,327
103
34
16,042
13,455
108
30
16,546
13,903
111
10
780
3,131
2,031
1,099
850
852
1,548
1,284
26
16,580
13,877
109
10
834
27
16,831
14,067
112
5,339
5,326
2,704
537
221
1,946
31,770
19
1,230
4,967
3,596
1,371
1,262
1,564
2,480
1,449
5,918
2,430
380
44
2,006
134
18
1,354
4,966
3,533
1,433
1,332
1,568
2,563
1,551
6,084
2,385
398
42
1,945
22,246
19,800
139
19
1,379
4,942
3,518
1,424
1,336
1,600
2,613
1,593
6,180
2,446
399
42
2,005
9
753
3,023
1,914
1,109
830
807
1,482
1,198
5,121
2,682
536
231
1,916
9
768
3,022
1,927
1,095
821
818
.1,518
1,183
5,208
2,586
536
224
1,826
2,643
532
219
1,892
3,089
2,074
1,015
846
814
1,549
1,300
10
890
3,053
2,064
989
852
819
1,573
1,344
5,414
2,764
544
223
1,997
SURVEY OF CURRENT BUSINESS
November 1998 •
75
and Earnings by Industry, 1997:M998:111
adjusted at annual rates]
I'-
1997
1998
\r
IV
Hi-
l|r
I'-
II"
IIr
1997
1998
IV
III'
lr
\\p
I'"
II r
Line
1998
\r
IV
III''
II"
ll 5,568
115,413
116,716
116,549
ll 7,801
117,627
120,173
120,017
121,364
121,224
122,398
122,251
26,860
26,794
27,117
27,051
27,250
27,187
27,718
27,660
27,662
27,601
27,944
27,883
187,604
187,437
189,401
189,216
191,843
191,645
194,783
194,603
195,514
195,366
198,083
197,921
155
166
173
157
139
148
66
66
62
58
61
61
168
185
198
180
148
162
78,278
5,020
4,864
78,122
22,207
15,240
79,314
5,077
4,831
79,068
22,273
15,375
80,081
5,118
4,970
79,933
22,338
15,529
82,384
5,266
5,022
82,139
22,381
15,653
83,267
5,335
5,057
82,988
22,451
15,924
84,016
5,377
5,156
83,795
22,619
15,985
17,648
1,261
17,848
1,275
17,915
1,278
18,359
1,310
18,178
1,298
18,425
1,315
228
237
251
261
260
263
16,615
4,699
5,546
16,810
4,712
5,594
16,888
4,725
5,637
17,309
4,734
5,675
17,140
4,744
5,777
17,373
4,774
5,797
136,643
8,502
-3,339
124,801
34,073
28,730
138,045
8,595
-3,350
126,100
34,237
29,064
140,230
8,738
-3,412
128,080
34,391
29,372
143,079
8,924
-3,449
130,706
34,485
29,592
143,279
8,956
-0,440
130,883
34,618
30,013
145,612
9,098
-0,518
132,996
34,919
30,169
383
347
339
332
344
308
116
110
100
95
104
90
740
719
701
674
694
700
14,857
15,028
15,190
15,321
15,580
15,677
5,431
5,485
5,537
5,580
5,673
5,707
27,990
28,345
28,671
28,919
29,319
29,469
63,219
6,587
8,471
64,092
6,593
8,628
64,738
6,573
8,770
66,790
6,706
8,887
67,419
6,780
9,068
68,044
6,791
9,180
14,058
1,526
2,063
14,245
1,522
2,081
14,306
1,502
2,107
14,708
1,524
2,127
14,514
1,499
2,166
14,728
1,512
2,184
111,677
11,215
13,751
112,937
11,186
13,922
114,855
11,233
14,142
117,487
11,341
14,251
117,473
11,308
14,498
119,512
11,427
14,673
59
70
77
61
42
46
-10
-10
8,413
8,558
8,693
8,826
9,026
9,134
2,074
2,091
-17
-16
-19
72
89
102
85
51
61
2,144
2,182
2,203
13,679
13,833
14,040
14,165
14,447
14,612
-13
2,120
155
166
173
157
139
148
66
66
62
58
61
61
168
185
198
180
148
162
78,122
69,426
79,147
70,412
79,908
70,953
82,227
73,412
83,128
74,589
83,868
75,287
17,582
14,656
17,782
14,856
17,853
14,939
18,301
15,339
18,118
15,221
18,364
15,458
136,475
121,028
137,860
122,286
140,032
124,367
142,899
126,970
143,131
127,195
145,450
129,333
396
99
404
101
423
101
432
103
465
109
481
110
167
5
175
6
183
5
185
5
195
6
201
6
668
71
681
75
702
78
708
79
732
78
754
78
3,690
16,082
11,309
4,773
4,052
5,039
6,145
10,418
23,504
8,696
1,087
3,706
16,362
11,524
4,838
4,063
5,376
6,143
10,319
23,938
8,735
1,059
3,725
16,421
11,542
4,878
4,185
5,309
6,216
10,337
24,237
8,955
1,035
3,873
16,929
12,009
4,920
4,269
5,570
6,508
10,807
24,921
8,815
1,029
3,952
16,940
11,833
5,107
4,755
5,631
6,346
11,422
24,968
8,539
1,032
3,911
17,102
11,971
5,130
4,329
5,743
6,393
11,755
25,462
8,581
1,040
1,210
3,324
1,626
1,698
1,037
1,155
3,351
1,633
1,718
1,072
1,138
3,329
1,602
1,727
1,071
1,130
3,451
1,675
1,776
1,094
1,006
2,198
1,189
5,082
2,962
1,160
3,298
1,597
1,701
1,143
1,164
3,312
1,614
1,699
1,156
6,268
23,202
15,564
7,638
7,271
9,158
11,632
14,321
48,437
15,447
2,666
6,254
23,423
15,800
7,622
7,574
9,263
11,694
14,371
48,950
15,574
2,656
6,444
24,215
16,474
7,741
7,591
9,387
11,836
14,559
49,556
15,665
2,632
6,672
24,799
16,880
7,919
7,878
9,551
12,238
14,111
50,935
15,929
2,651
6,912
24,493
16,545
7,948
7,827
9,929
12,084
14,605
50,535
15,936
2,675
6,928
24,493
16,521
7,972
7,911
10,039
12,293
14,952
51,885
16,117
2,698
934
958
973
2,109
1,137
4,733
2,926
2,125
1,167
4,847
2,926
2,162
1,161
4,916
2,914
950
967
2,203
1,257
5,010
2,897
2,242
1,303
5,107
2,906
386
388
387
374
356
349
614
207
603
203
597
202
601
204
602
204
605
202
7,223
7,288
7,534
7,412
7,151
7,191
2,106
2,119
2,115
2,157
2,092
2,099
\r
IIr
346
346
342
340
340
12,572
12,687
12,936
12,921
13,079
lr
IV
\r
II*
13,368
13,257
13,465
13,350
13,527
13,407
13,869
13,761
13,931
13,831
14,148
14,046
111
115
119
107
100
102
9,117
9,189
9,217
9,564
9,585
9,789
626
76
630
81
632
92
658
93
660
88
674
85
8,567
2,682
2,119
8,640
2,690
2,136
8,678
2,697
2,151
8,999
2,702
2,167
9,014
2,713
2,204
9,200
2,736
2,212
52
50
47
47
49
44
2,067
2,086
2,104
2,120
2,154
2,167
7,194
7,251
7,270
7,585
7,581
7,748
797
791
783
808
808
822
1,126
1,146
1,164
1,172
1,196
1,219
IIr
IV
I'"
1997
1998
III'-
IV
V
II"
\r
20,461
20,368
20,535
20,444
20,984
20,890
21,253
21,177
21,571
21,500
21,849
21,772
93
91
94
76
71
77
15,923
15,986
1,001
-1,243
13,743
3,889
2,903
16,536
1,036
-1,322
14,177
3,905
2,902
16,834
1,056
-1,347
14,431
3,915
2,907
17,130
1,079
-1,380
14,671
3,927
2,973
17,419
1,098
-1,420
14,901
3,955
2,993
1,294,001
1,292,500
1,501
1,307,359
1,305,850
1,509
1,325,111
1,323,707
1,403
1,338,687
1,337,325
1,362
1,349,940
1,348,517
1,423
904,991
60,630
-12,744
831,617
230,661
224,345
4,992
219,353
911,119
60,924
-12,614
837,582
231,373
225,046
4,746
220,299
923,974
61,721
-12,911
849,343
232,058
225,958
4,634
221,324
941,320
62,859
-12,888
865,573
232,513
227,025
4,636
222,389
951,981
63,786
-13,107
875,088
233,099
230,500
4,572
225,929
961,147
64,317
-13,101
883,728
234,505
231,707
4,456
227,251
-1,240
13,688
3,873
2,900
70
68
60
53
66
65
2,830
2,835
2,843
2,854
2,908
2,928
733,908
73,149
97,933
739,387
72,844
98,888
750,769
73,129
100,075
766,663
73,857
100,800
775,047
74,469
102,465
782,746
74,708
103,692
12,548
1,415
1,961
12,629
1,405
1,953
13,093
1,445
1,999
13,370
1,457
2,007
13,608
1,482
2,040
13,864
1,503
2,051
995
67
72
60
51
51
342
359
371
276
206
221
65
62
66
48
1,079
1,092
1,112
1,145
1,167
97,591
98,530
99,705
100,524
102,259
103,471
1,896
1,890
1,933
1,959
1,482
903,508
764,381
3,811
2,112
41,182
129,886
65,101
64,786
58,265
54,774
69,501
121,867
282,983
139,127
34,747
4,167
100,214
1,501
909,618
767,611
3,839
2,186
41,162
131,034
65,438
65,596
59,470
55,623
69,768
118,344
286,185
142,007
34,764
4,184
103,060
1,509
922,465
780,968
3,971
2,228
41,291
132,110
65,536
66,574
60,954
56,362
70,590
123,224
290,238
141,497
34,750
4,194
102,553
1,403
939,916
797,202
4,136
2,256
42,278
135,930
67,958
67,972
61,818
57,481
71,951
125,494
295,859
142,714
34,724
4,188
103,803
1,362
950,619
807,333
4,173
2,226
43,761
137,267
68,418
68,849
61,715
58,324
72,263
128,323
299,281
143,286
35,175
4,240
103,871
1,423
959,724
815,803
4,287
2,216
44,252
136,598
67,312
69,286
61,628
59,138
73,620
130,030
304,034
143,921
35,222
4,194
104,505
115
119
107
100
102
9,074
7,694
9,098
7,728
9,457
7,995
9,486
8,078
9,687
8,276
58
21
617
59
23
625
61
23
627
62
24
655
68
23
707
69
21
745
1,894
1,381
1,870
1,358
1,877
1,356
1,950
1,418
2,021
1,498
2,069
1,531
513
515
462
974
498
512
527
466
984
519
520
534
476
997
519
532
547
487
523
564
462
539
565
468
1,013
1,005
535
522
538
2,552
1,417
2,620
1,380
2,616
1,369
2,723
1,461
2,706
1,408
2,773
1,410
238
41
237
41
236
41
234
40
238
41
243
40
' 1,137
1,103
1,093
•1,187
1,128
1,027
1,127
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
II*
1,286,623
1,285,141
1,482
63
111
4
5
6
7
8
9
10
11
Line
1998
mr
II'
1,063
9,006
7,590
1
2
3
Delaware
1997
1998
III'-
347
12,434
Mideast
Vermont
1997
;
Massachusetts
Maine
Connecticut
1997
42
1,999
47
2,004
93
91
94
76
71
77
15,830
13,866
15,896
13,940
16,442
14,462
16,758
14,775
17,059
15,019
17,342
15,268
64
8
66
9
68
9
70
9
72
9
75
9
1,207
4,316
1,090
4,189
1,141
4,398
1,153
4,376
1,218
4,476
1,187
4,558
859
823
923
968
989
991
3,458
3,367
3,476
3,408
3,488
3,567
696
607
710
616
733
624
758
649
785
637
788
638
1,340
2,007
3,620
1,964
1,332
2,249
3,679
1,956
1,355
2,296
3,838
1,980
1,375
2,446
3,940
1,983
1,383
2,438
4,000
2,040
1,400
2,530
4,083
2,074
253
166
248
164
246
162
246
160
1,546
1,544
1,572
1,576
250
162
1,629
252
159
1,664
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
SURVEY OF CURRENT BUSINESS
• November
Table 2.—Personal Income by Major Source
[Millions of dollars, seasonally
Maryland
District of Columbia
Line
Item
1997
r
r
1997
1998
\r
r
1998
III'-
IV
I'
II*
18,556
18,556
0
18,785
18,785
0
18,810
18,810
0
19,109
19,109
0
19,174
19,174
0
143,530
143,297
234
145,008
144,773
235
146,626
146,388
238
149,076
148,859
216
150,167
149,964
203
151,267
151,048
219
34,810
2,250
-21,097
11,464
3,157
3,897
69
3,828
34,600
2,235
-20,896
11,470
3,139
3,947
73
3,874
35,318
2,285
-21,355
11,678
3,125
3,982
67
3,915
35,079
2,266
-21,132
11,681
3,118
4,010
64
3,946
36,070
2,341
-21,795
11,935
3,120
4,054
64
3,990
36,009
2,332
-21,699
11,978
3,131
4,065
60
4,006
89,519
6,117
13,880
97,282
25,174
21,075
344
20,731
90,843
6,200
13,754
98,398
25,284
21,326
332
20,994
91,829
6,258
14,081
99,652
25,388
21,586
346
21,240
94,311
6,425
13,958
101,844
25,455
21,776
343
21,433
94,529
6,458
14,458
102,530
25,528
22,109
328
21,782
95,348
6,506
14,471
103,313
25,707
22,247
335
21,912
29,929
2,642
2,240
0
2,240
29,734
2,601
2,265
0
2,265
30,397
2,632
2,289
0
2,289
30,192
2,582
2,304
0
2,304
31,074
2,658
2,338
0
2,338
31,008
2,639
2,362
0
2,362
74,489
7,010
8,020
119
7,901
75,667
7,036
8,140
120
8,019
76,531
7,036
8,262
123
8,138
78,784
7,178
8,349
103
8,246
78,883
7,166
8,480
87
8,393
79,592
7,199
8,557
98
8,459
0
34,810
20,762
331
17
412
953
126
827
1,357
309
883
1,971
14,530
14,049
11,476
727
1,846
0
34,600
20,492
298
13
400
957
107
849
1,302
289
868
1,970
14,395
14,109
11,559
726
1,824
0
35,318
21,039
339
18
426
989
115
874
1,332
323
869
2,039
14,705
14,278
11,635
727
1,916
0
35,079
20,951
424
18
428
961
124
837
1,396
324
850
2,014
14,536
14,127
11,579
733
1,816
0
36,070
21,755
312
15
408
998
129
869
1,451
320
882
2,033
15,335
14,316
11,702
742
1,871
0
36,009
21,668
319
15
403
1,010
120
890
1,426
323
889
2,063
15,220
14,341
11,705
739
1,897
234
89,285
70,359
500
80
6,194
8,163
4,381
3,782
5,172
5,023
8,573
7,119
29,534
18,927
7,809
1,328
9,789
235
90,608
71,339
507
82
6,219
8,240
4,430
3,810
5,237
5,126
8,557
7,309
30,061
19,270
7,897
1,357
10,016
238
91,591
72,246
516
80
6,206
8,376
4,544
3,832
5,320
5,230
8,672
7,432
30,413
19,345
7,932
1,357
10,056
216
94,095
74,628
535
82
6,343
8,934
4,970
3,964
5,460
5,330
8,897
7,936
31,111
19,468
7,948
1,354
10,165
203
94,327
74,668
544
91
6,469
9,154
5,095
4,059
5,407
5,332
8,927
7,348
31,396
19,658
8,160
1,377
10,122
219
95,129
75,405
559
90
6,301
9,369
5,265
4,104
5,416
5,359
9,019
7,549
31,742
19,724
8,145
1,353
10,226
IV
V
\
II
18,518
18,518
0
II
IV
III'-
I'
II*
Income by Place of Residence
1
2
3
Personal income (lines 4-11)
Nonfarm personal income
Farm income (line 17)
Derivation of Personal Income
4
5
&
7
8
9
10
11
Earnings by place of work (lines 12-16 or 17-34)
Less* Personal contributions for social insurance2
Plus: Adjustment for residence 3
Equals1 Net earnings by place of residence
Plus: Dividends interest and rent4
Plus: Transfer payments
State unemployment insurance benefits
Transfers excluding State unemployment insurance benefits ....
12
13
14
15
16
Components of earnings:
Wage and salary disbursements
Other labor income
Proprietors' income5
Farm proprietors' income
Nonfarm proprietors' income
Earnings by Place of Work
Earnings by Industry
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Farm
Nonfarm
Private
Agricultural services, forestry, fishing, and other6
Mining
Construction
Manufacturing
Durable goods
Nonduraole goods
Transportation and public utilities
Wholesale trade
Retail trade
Finance insurance and real estate
Services
Government and government enterprises
Federal civilian
Military
State and local
Illinois
Great Lakes
Item
Line
1997
1998
1997
1998
\r
II '
III'-
IV
\r
1,089,826
1,084,513
5,313
1,102,775
1,097,258
5,517
1,112,544
1,107,270
5,274
1,128,280
1,123,201
5,079
1,144,562
1,140,079
4,483
1,155,371
1,150,969
4,402
325,755
323,903
1,852
330,778
328,873
1,905
333;773
331,896
1,877
338,659
336,957
1,701
342,221
340,644
1,577
346,643
345,100
1,543
782,786
52,481
3,059
733,364
186,341
170,121
3,694
166,427
794,891
53,231
3,086
744,746
186,863
171,167
3,477
167,689
803,523
53,795
3,120
752,848
187,370
172,326
3,413
168,913
818,925
54,804
3,156
767,277
187,689
173,314
3,356
169,959
833,310
56,045
3,195
780,459
188,333
175,769
3,379
172,391
842,394
56,614
3,265
789,045
189,792
176,534
3,235
173,299
235,642
15,229
240,570
15,543
243,224
15,716
248,082
16,043
250,965
16,300
254,932
16,549
219,888
59,628
46,239
1,224
45,015
224,437
59,894
46,447
1,154
45,293
226,905
60,142
46,726
1,152
45,575
231,406
60,293
46,960
1,124
45,836
234,031
60,503
47,687
1,124
46,563
237,725
60,984
47,934
1,100
46,834
644,713
68,512
69,560
3,461
66,099
654,841
69,434
70,617
3,668
66,948
662,547
69,932
71,044
3,422
67,622
676,402
70,957
71,565
3,213
68,352
689,136
72,036
72,138
2,570
69,569
697,208
72,323
72,863
2,411
70,452
190,418
19,976
25,248
1,524
23,724
194,669
20,245
25,656
1,576
24,080
197,099
20,284
25,841
1,546
24,295
201,656
20,547
25,880
1,370
24,510
204,113
20,656
26,195
1,237
24,958
207,549
20,894
26,488
1,189
25,299
5,313
777,473
677,638
3,541
2,472
44,439
206,573
143,089
63,485
47,114
51,393
68,943
56,038
197,124
99,835
14,386
2,485
82,964
5,517
789,374
689,187
3,654
2,546
45,361
209,143
145,029
64,114
48,355
52,243
69,299
57,879
200,707
100,188
14,241
2,441
83,505
5,274
798,249
696,975
3,753
2,473
45,187
211,527
146,846
64,681
49,056
52,879
70,211
58,275
203,613
101,274
14,109
2,523
84,641
5,079
813,846
711,826
3,826
2,566
46,559
217,062
151,243
65,818
49,948
54,133
71,462
59,225
207,046
102,020
14,050
2,485
85,484
4,483
828,827
725,085
3,905
2,553
47,558
220,607
152,723
67,884
49,835
55,474
72,783
61,295
211,075
103,742
14,306
2,538
86,898
4,402
837,992
733,027
4,032
2,490
48,473
219,403
150,714
68,689
49,929
56,385
74,186
62,875
215,254
104,965
14,389
2,481
88,094
1,852
233,790
204.649
1,081
747
12,873
45,871
27,678
18,193
17,044
16,964
19,323
23,229
67,517
29,141
4,670
1,192
23,279
1,905
238,665
209,192
1,116
751
13,320
47,195
28,683
18,512
17,676
17,243
19,348
23,842
68,702
29,473
4,615
1,157
23,701
1,877
241,348
211,721
1,142
713
12,915
48,435
29,564
18,871
17,948
17,339
19,712
24,036
69,481
29,627
4,579
1,235
23,812
1,701
246,381
216,506
1,170
731
13,503
49,632
30,340
19,292
18,399
17,802
19,867
24,540
70,863
29,875
4,569
1,211
24,095
1,577
249,387
219,325
1,196
689
13,464
49,207
29,677
19,530
17,974
18,432
20,061
25,521
72,781
30,062
4,658
1,260
24,145
1,543
253,388
223,027
1,233
681
13,607
49,839
29,963
19,876
18,144
18,731
20,433
26,190
74,169
30,361
4,691
1,219
24,452
\\P
lr
IIr
III'
II*
Income by Place of Residence
1
2
3
Personal income (lines 4-1 1 )
Nonfarm personal income
Farm income (line 17)
Derivation of Personal Income
4
5
6
7
3
9
10
11
Earnings by place of work (lines 12-16 or 17-34)
Less* Personal contributions for social insurance2
Plus1 Adjustment for residence 3
Equals: Net earnings by place of residence
Plus1 Dividends interest and rent4
Plus' Transfer payments
State unemployment insurance benefits
Transfers excluding State unemployment insurance benefits ....
12
13
14
15
16
Components of earnings:
Wage and salary disbursements
Other labor income
Proprietors' income5
Farm proprietors' income
Nonfarm proprietors' income
-525
-590
-603
-633
-634
-657
Earnings by Place of Work
Earnings by Industry
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Farm
Nonfarm
.. ..
Private
Agricultural services forestry fishing and other6
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
Transportation and public utilities
Wholesale trade
Retail trade
Finance insurance and real estate
.
. ..
Services
Government and government enterprises
Federal civilian
Military
State and local
See footnotes at end of table.
November 1998 •
SURVEY OF CURRENT BUSINESS
77
and Earnings by Industry, 1997:1-1998:111—Continued
adjusted at annual rates]
New Jersey
New York
1997
llr
lr
1998
lllr
lr
IV
Pennsylvania
1998
1997
\r
II*
III'-
IK
lr
IV
1997
lr
II*
Line
1998
III'-
II'-
\r
IV
II*
256,574
256,369
257,195
256,988
260,425
260,217
264,072
263,879
269,107
268,923
270,398
270,209
543,202
542,848
545,785
545,420
551,121
550,755
558,018
557,680
562,848
562,516
569,104
568,761
304,338
303,741
306,921
306,318
309,418
308,814
313,883
313,303
315,885
315,312
318,147
317,553
205
207
208
194
184
189
354
365
365
338
332
343
597
603
604
580
573
595
169,637
11,890
14,801
172,548
49,420
34,606
169,629
11,832
14,943
172,740
49,632
34,824
172,326
11,993
15,175
175,508
49,828
35,090
175,475
12,192
15,497
178,780
49,953
35,339
180,418
12,597
15,269
183,090
50,073
35,944
180,840
12,605
15,702
183,938
50,374
36,087
390,340
25,207
-20,850
344,283
94,983
103,935
392,871
25,319
-20,879
346,672
95,305
103,808
398,649
25,659
-21,293
351,698
95,609
103,814
406,001
26,127
-21,686
358,188
95,804
104,025
409,076
26,391
-21,636
361,049
96,044
105,755
415,079
26,758
-22,138
366,183
96,612
106,310
204,761
14,170
207,190
14,338
209,316
14,490
213,619
14,792
214,757
14,921
216,452
15,019
1,708
194,560
54,124
58,238
1,415
56,823
1,804
196,630
54,204
58,583
1,410
57,174
1,822
200,649
54,267
58,967
1,479
57,488
1,977
201,813
54,407
59,665
1,361
58,303
1,982
203,415
54,727
60,005
1,397
58,608
165,316
18,414
23,460
167,349
18,391
23,576
171,257
18,631
23,732
172,101
18,652
24,004
173,493
18,673
24,286
1,217
1,119
1,084
1,083
1,147
1,088
1,830
1,740
1,668
1,614
1,606
1,511
33,389
33,705
34,006
34,256
34,797
34,999
102,105
102,068
102,146
102,412
104,150
104,799
1,762
192,352
54,053
57,933
1,462
56,470
139,190
13,902
16,545
139,201
13,720
16,708
141,690
13,787
16,849
144,619
13,892
16,964
148,863
14,259
17,296
149,173
14,182
17,484
314,707
29,798
45,835
316,839
29,668
46,363
321,710
29,838
47,101
328,440
30,118
47,443
330,519
30,250
48,307
335,615
30,512
48,952
163,046
18,382
23,332
63
65
66
53
40
39
-60
^8
-47
-70
-86
-91
155
160
162
142
124
128
16,482
16,643
16,783
16,912
17,257
17,445
45,894
46,411
47,147
47,513
48,393
49,043
23,177
23,300
23,414
23,590
23,880
24,158
205
207
208
194
184
189
354
365
365
338
332
343
597
603
604
580
573
595
169,432
145,457
169,422
145,337
172,118
148,020
175,282
150,923
180,234
155,315
180,651
155,654
389,987
335,491
392,505
336,028
398,284
342,637
405,663
348,973
408,744
352,575
414,736
358,142
204,163
178,447
206,587
180,476
208,712
182,563
213,039
186,953
214,184
188,000
215,857
189,666
718
227
731
232
7,745
26,644
9,582
17,062
14,932
15,005
13,533
14,275
52,241
24,085
3,347
509
20,228
752
235
760
244
810
243
8,390
27,709
9,618
18,091
15,393
16,193
14,516
16,368
56,033
24,996
3,316
510
21,170
1,263
320
13,738
47,667
25,266
22,401
22,369
22,292
25,995
79,185
122,661
54,496
6,648
895
46,954
1,279
327
13,871
47,883
25,173
22,711
23,153
22,701
26,264
76,597
123,953
56,477
6,568
892
49,017
1,332
335
7,878
27,382
9,805
17,577
15,347
15,517
13,901
15,800
54,094
24,359
784
244
8,375
28,009
9,921
18,088
15,317
15,948
14,211
17,568
54,858
24,919
3,309
518
21,092
1,309
362
7,725
26,942
9,602
17,340
15,214
15,221
13,705
15,214
53,012
24,098
14,004
48,194
25,173
23,021
23,991
22,908
26,575
80,294
125,002
55,647
6,508
14,474
49,344
26,142
23,202
24,233
23,267
27,276
81,055
127,656
56,691
6,492
1,407
322
15,320
50,075
26,272
23,802
24,007
23,624
27,220
81,796
128,806
56,169
6,568
912
48,689
1,016
1,568
12,003
44,933
25,948
18,985
14,624
12,393
19,651
16,242
64,522
26,087
5,145
526
20,415
1,054
1,545
11,971
44,555
26,012
18,544
14,747
12,461
19,640
17,140
64,886
26,184
5,186
529
20,469
12,264
44,152
25,501
18,652
14,673
12,633
20,059
17,591
65,681
26,191
5,243
IV r
\r
7,747
26,226
9,469
16,756
14,707
14,858
13,536
15,812
51,627
23,975
3,377
503
20,095
3,315
516
3,313
516
20,268
20,530
898
898
48,242
49,300
Ind ana
II r
133,922
132,883
135,332
134,216
IV
136,081
135,021
958
1,524
986
1,524
11,837
43,120
25,323
17,797
14,136
11,886
19,214
15,944
61,856
26,111
11,789
43,212
25,180
18,032
14,363
12,055
19,414
15,950
63,269
26,150
6,561
915
5,184
549
5,144
536
5,114
534
49,118
19,984
20,431
20,501
138,446
137,343
\r
lr
II*
140,370
139,421
141,699
140,760
llr
240,721
240,178
1997
1998
lllr
1,084
1,529
518
20,430
\r
IV
242,939
242,391
245,346
244,798
248,308
247,767
541
llr
lr
II*
256,771
256,211
266,513
264,906
269,357
267,720
271,661
270,169
275,434
273,866
278,952
277,608
281,005
279,698
539
559
1,606
1,637
1,492
1,568
1,344
1,307
190,785
13,366
-1,404
176,016
43,026
47,471
193,380
13,530
-1,434
178,416
43,205
47,735
195,381
13,669
-1,458
180,254
43,373
48,034
199,058
13,907
-1,504
183,648
43,480
48,306
202,119
14,196
-1,533
186,390
43,609
48,953
203,737
14,296
-1,535
187,906
43,908
49,192
255,184
254,645
1,116
1,060
1,103
949
938
543
548
97,157
6,602
2,342
92,897
20,923
20,102
98,405
6,676
2,405
94,133
21,014
20,185
98,962
101,318
6,862
2,484
96,940
21,148
20,358
103,031
104,105
172,689
11,622
174,701
11,737
176,931
11,874
179,786
12,051
186,477
12,564
187,705
12,636
20,491
717
161,784
41,164
37,773
975
36,797
728
163,692
41,110
38,136
932
37,204
736
165,794
41,077
38,476
893
37,582
760
168,496
41,061
38,752
876
37,876
746
174,660
41,203
39,321
925
38,396
760
175,830
41,529
39,412
822
38,590
85,102
9,280
9,724
145,891
15,779
11,019
147,366
16,138
11,196
149,117
16,456
11,359
151,570
16,727
11,489
157,437
17,368
11,672
158,575
17,317
11,813
703
9,021
63
71
71
58
43
43
1,334
1,365
1,218
1,294
1,062
1,014
10,956
11,126
11,288
11,432
11,629
11,770
16,195
16,355
16,493
16,664
16,954
17,186
254
246
19,848
19,939
79,025
8,780
9,352
80,028
8,879
9,497
80,534
8,904
9,524
820
896
8,601
840
882
8,684
8,803
8,532
236
20,123
82,549
9,085
9,685
84,117
9,243
9,671
723
8,948
7,091
2,544
99,559
21,399
20,740
249
759
687
658
648
627
616
46,713
47,049
47,376
47,658
48,326
48,575
157,426
15,830
17,529
159,674
15,987
17,720
161,591
16,078
17,712
164,799
16,301
17,958
167,605
16,499
18,016
169,035
16,502
18,200
1,040
1,116
1,060
1,103
949
938
543
548
548
541
539
559
1,606
1,637
1,492
1,568
1,344
1,307
96,118
84,526
97,288
85,554
97,901
86,151
100,215
88,246
102,082
90,138
103,167
91,035
172,146
149,675
174,153
151,807
176,383
153,491
179,245
156,213
185,938
161,660
187,146
162,600
189,179
164,125
191,743
166,744
193,889
168,601
197,490
172,353
200,776
175,043
202,430
176,411
439
399
6,431
30,826
21,948
8,878
5,900
5,629
9,229
5,813
21,485
11,750
1,699
226
9,826
403
387
426
402
6,396
30,458
21,604
8,853
5,765
5,502
6,435
30,673
21,947
8,726
5,866
5,582
9,123
5,565
20,928
11,591
1,766
226
9,599
9,164
5,740
21,265
11,734
1,725
224
9,785
450
424
454
417
470
400
763
423
776
433
801
427
816
437
825
478
856
465
836
791
853
832
874
806
889
841
926
834
954
817
6,760
31,726
22,767
8,959
6,052
6,973
32,778
23,160
7,000
32,757
23,007
9,618
6,110
5,822
9,513
5,988
22,083
11,944
1,711
225
10,008
9,751
6,078
5,920
9,696
6,130
22,583
12,132
1,731
222
10,179
8,993
54,196
43,037
11,159
8,664
11,017
14,623
9,208
54,433
43,349
11,084
8,853
11,172
14,834
9,782
42,318
22,345
2,558
9,383
54,997
43,848
11,149
8,892
11,388
14,973
9,547
43,085
22,892
2,535
9,564
55,971
44,620
11,351
8,983
11,642
15,539
9,706
43,555
23,032
2,498
9,936
58,762
47,163
11,599
9,089
11,952
15,945
10,152
44,522
24,278
2,622
10,200
57,653
45,719
11,934
10,652
51,543
35,567
15,976
10,589
12,587
18,009
12,007
47,112
25,054
10,783
51,862
35,634
16,227
10,841
12,866
18,029
12,559
48,120
24,999
4,094
10,850
52,102
35,831
16,271
11,072
13,021
18,290
12,653
48,933
25,288
4,059
11,003
53,760
37,275
16,485
11,232
13,279
18,511
12,959
49,879
25,137
4,045
11,277
54,047
36,727
17,320
11,419
13,592
19,031
13,471
50,446
25,733
4,057
11,619
53,358
36,059
17,299
11,350
13,796
19,325
13,833
51,360
26,019
5,781
9,378
5,922
21,753
11,970
1,694
224
10,052
9,410
41,585
22,471
2,587
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
II*
1,040
7,019
2,501
98,513
21,228
20,628
237
20,391
12
13
14
15
16
Line
1998
III'
548
6,710
2,441
94,693
21,098
20,291
259
20,032
4
5
6
7
8
9
10
11
Ohio
1997
1998
III'
934
1,460
11,884
42,561
24,999
17,562
13,963
11,686
19,174
15,773
61,011
25,717
Michigan
1997
\"
1,440
330
15,707
49,798
25,818
23,981
23,933
23,992
27,736
83,930
131,275
56,594
1
2
3
9,114
12,159
16,343
10,384
45,426
24,547
2,628
253
252
252
250
249
249
4,113
628
19,632
19,535
20,104
20,284
21,406
21,669
20,313
620
618
608
610
4,071
598
20,286
20,612
20,485
21,066
21,350
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
SURVEY OF CURRENT BUSINESS
November 1998
Table 2.—Personal Income by Major Source
[Millions of dollars, seasonally
Plains
Wisconsin
Line
1997
Item
l
Income by Place of Residence
1 Personal income (lines 4-11)
2
Nonfarm personal income
3
Farm income (line 17)
r
1997
1998
IV
Ilk
II'-
\r
II*
\r
IK
1998
IV
III''
lr
Ik
122,915
122,643
272
124,369
124,059
310
125,683
125,386
297
127,433
127,268
165
127,836
127,762
73
129,254
129,200
54
439,487
429,875
9,611
445,613
435,812
9,802
450,253
440,715
9,538
454,888
446,495
8,393
460,552
452,878
7,674
465,71 1
458,150
7,561
4
5
6
7
8
9
10
11
Derivation of Personal Income
Earnings by place of work (lines 12-16 or 17-34)2
Less: Personal contributions for3 social insurance
Plus: Adjustment for residence
Equals: Net earnings by place of residence
Plus: Dividends, interest and rent4
Plus: Transfer payments
State unemployment insurance benefits
Transfers excluding State unemployment insurance benefits ....
86,512
5,662
1,929
82,779
21,599
18,536
483
18,054
87,835
5,745
1,977
84,067
21,639
18,663
459
18,204
89,025
5,826
2,004
85,203
21,681
18,800
452
18,348
90,680
5,941
2,050
86,788
21,707
18,938
472
18,466
90,717
5,966
2,114
86,865
21,790
19,180
465
18,715
91,915
6,042
2,153
88,025
21,972
19,257
448
18,809
318,899
22,583
-3,688
292,628
78,050
68,809
1,067
67,742
324,291
22,965
-5,731
297,595
78,793
69,226
1,019
68,206
328,179
23,263
-5,779
301,137
79,447
69,668
1,002
68,666
332,468
23,641
-3,851
304,976
79,849
70,063
988
69,075
337,395
24,145
-5,924
309,326
80,081
71,145
1,026
70,119
342,071
24,477
-3,991
313,603
80,627
71,481
973
70,509
12
13
14
15
16
Earnings by Place of Work
Components of earnings:
Wage and salary disbursements
Other labor income 5
Proprietors' income
Farm proprietors' income
Nonfarm proprietors' income
71,954
8,146
6,412
-280
6,692
73,103
8,185
6,548
-238
6,786
74,206
8,210
6,609
-253
6,861
75,828
8,297
6,554
-390
6,944
75,863
8,269
6,584
-496
7,080
76,947
8,330
6,638
-538
7,176
253,811
27,189
37,899
7,964
29,935
258,261
27,367
38,662
8,160
30,502
261,796
27,461
38,922
7,900
31,022
266,520
27,680
38,268
6,754
31,514
271,226
28,024
38,145
5,994
32,151
275,399
28,276
38,396
5,813
32,584
272
86,240
74,663
457
124
5,525
24,505
15,202
9,303
5,053
5,323
7,866
5,828
19,982
11,577
1,250
186
10,141
310
87,525
75,890
484
128
5,615
24,981
15,416
9,565
5,120
5,381
7,924
5,955
20,303
11,635
1,250
188
10,197
297
88,728
77,011
497
128
5,608
25,168
15,655
9,513
5,244
5,503
8,007
6,226
20,630
11,717
1,238
192
10,287
165
90,515
78,509
502
133
5,729
25,973
16,242
9,731
5,281
5,630
8,167
6,097
20,996
12,006
1,245
193
10,568
73
90,644
78,919
505
136
5,909
25,813
15,997
9,817
5,242
5,675
8,233
6,163
21,244
11,725
1,258
194
10,274
54
91,860
79,954
519
127
6,048
25,796
15,967
9,828
5,242
5,779
8,390
6,338
21,715
11,906
1,269
193
10,444
9,611
309,287
263,253
1,875
1,558
19,313
61,195
35,865
25,330
24,388
22,866
29,879
22,710
79,469
46,035
7,822
2,487
35,725
9,802
314,489
267,919
1,945
1,623
19,746
61,873
36,665
25,208
24,242
23,313
30,261
23,838
81,079
46,570
7,816
2,461
36,293
9,538
318,641
271,711
2,015
1,613
19,928
62,909
37,147
25,762
24,477
23,554
30,691
24,124
82,400
46,930
7,746
2,455
36,729
8,393
324,075
277,427
2,041
1,652
20,507
64,765
38,542
26,223
24,701
24,121
31,104
24,528
84,008
46,648
7,700
2,435
36,513
7,674
329,721
282,463
2,106
1,610
21,174
64,903
38,634
26,268
24,916
24,590
32,019
25,095
86,050
47,258
7,863
2,452
36,943
7,561
334,510
286,729
2,175
1,582
21,576
65,127
38,393
26,733
25,003
24,976
32,679
25,852
87,761
47,781
7,928
2,410
37,442
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Earnings by Industry
Farm
Nonfarm
Private
Agricultural services, forestry, fishing, and other6
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
Transportation and public utilities
Wholesale trade ..
Retail trade
Finance, insurance, and real estate
Services
Government and government enterprises
Federal, civilian ...
Military
State and local
Missouri
Item
Line
\r
Income by Place of Residence
1 Personal income (lines 4-11)
2
Nonfarm personal income
3
Farm income (line 17)
4
5
6
7
8
9
10
11
Derivation of Personal Income
Earnings by place of work (lines 12-16 or 17-34)
Less11 Personal contributions for3 social insurance2
Plus Adjustment for residence
Equals: Net earnings by place of residence
Plus' Dividends interest and rent4
Plus: Transfer payments
State unemployment insurance benefits .
Transfers excluding State unemployment insurance benefits ....
Earnings by Place of Work
Components of earnings:
12
Wage and salary disbursements
Other labor income 5
13
14
Proprietors' income
15
Farm proprietors' income
16
Nonfarm proprietors' income
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Earnings by Industry
Farm
Nonfarm
Private
Agricultural services, forestry, fishing, and other6
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
Government and government enterprises
Federal, civilian
Military
State and local
See footnotes at end of table.
Nebraska
1998
1997
IIr
III'-
IV
\r
1997
II*
1998
\"
IK
III''
IV
\r
II*
126,407
125,311
1,096
127,403
126,274
1,129
128,724
127,608
1,116
130,068
129,034
1,035
131,630
130,642
988
133,230
132,265
965
38,546
36,978
1,568
39,103
37,437
1,666
39,473
37,858
1,616
39,656
38,254
1,402
39,887
38,604
1,283
40,284
38,973
1,311
91,208
6,242
-5,411
81,554
23,182
21,671
263
21,408
91,860
6,283
-3,364
82,213
23,324
21,866
246
21,620
92,944
6,359
-3,396
83,188
23,453
22,084
262
21,822
94,178
6,446
-3,422
84,310
23,531
22,227
240
21,988
95,443
6,566
-5,459
85,418
23,610
22,601
263
22,338
96,886
6,665
-3,527
86,694
23,777
22,759
290
22,469
28,460
2,035
-534
25,890
6,906
5,749
45
5,704
28,883
2,058
-533
26,293
7,024
5,786
40
5,747
29,135
2,081
-539
26,515
7,126
5,833
45
5,788
29,244
2,105
-540
26,599
7,189
5,869
43
5,825
29,399
2,129
-542
26,728
7,200
5,959
41
5,919
29,754
2,153
-548
27,053
7,232
5,999
46
5,953
74,027
8,105
9,075
895
8,180
74,581
8,083
9,195
928
8,266
75,542
8,123
9,279
915
8,363
76,715
8,173
9,289
833
8,456
77,857
8,248
9,338
781
8,557
79,151
8,337
9,398
750
8,648
21,952
2,344
4,164
1,284
2,880
22,190
2,331
4,363
1,383
2,980
22,426
2,325
4,384
1,334
3,050
22,708
2,325
4,210
1,123
3,088
22,884
2,327
4,187
996
3,192
23,174
2,345
4,235
1,012
3,223
1,096
90,111
77,594
434
229
5,970
17,898
9,973
7,925
7,728
6,250
8,501
6,541
24,042
12,517
2,817
637
9,063
1,129
90,730
78,073
451
241
5,958
17,718
9,995
7,722
7,674
6,334
8,596
6,720
24,380
12,657
2,829
629
9,198
1,116
91,828
79,124
463
240
5,983
18,151
10,163
7,989
7,743
6,364
8,704
6,798
24,678
12,703
2,769
637
9,298
1,035
93,143
80,474
468
244
6,091
18,504
10,471
8,033
7,856
6,466
8,783
6,939
25,123
12,669
2,702
626
9,341
988
94,455
81,474
479
255
6,103
18,273
10,334
7,938
7,882
6,526
8,992
7,247
25,718
12,981
2,782
614
9,585
965
95,921
82,656
494
253
6,202
18,402
10,383
8,018
7,892
6,686
9,194
7,460
26,073
13,265
2,819
604
9,842
1,568
26,891
22,277
267
62
1,617
3,978
1,994
1,984
2,980
1,843
2,604
1,970
6,956
4,614
669
390
3,556
1,666
27,217
22,560
281
65
1,711
4,085
2,050
2,035
2,741
1,875
2,620
2,087
7,094
4,657
666
385
3,606
1,616
27,519
22,859
297
64
1,707
4,177
2,078
2,098
2,742
1,885
2,653
2,083
7,251
4,661
669
381
3,611
1,402
27,841
23,195
299
65
1,660
4,300
2,162
2,138
2,751
1,958
2,686
2,110
7,365
4,647
675
380
3,592
1,283
28,116
23,411
311
64
1,833
4,199
2,126
2,073
2,644
1,973
2,738
2,112
7,539
4,705
683
385
3,636
1,311
28,443
23,732
322
65
1,778
4,308
2,166
2,142
2,644
1,984
2,788
2,193
7,653
4,711
679
378
3,653
November 1998 •
SURVEY OF CURRENT BUSINESS
79
and Earnings by Industry, 1997:1-1998:111—Continued
adjusted at annual rates]
Kansas
Iowa
1997
r
Minnesota
1997
1998
1997
1998
IV
K
II*
\r
IK
UK
IV
K
II*
K
IK
Line
1998
UK
IV
K
II*
K
II
IIK
65,011
61,633
3,378
65,973
62,656
3,318
66,344
63,199
3,145
67,110
64,413
2,697
67,337
64,964
2,373
68,045
65,765
2,280
60,909
59,666
1,243
62,031
60,735
1,296
62,753
61,463
1,290
63,555
62,348
1,207
64,241
63,088
1,153
64,881
63,679
1,202
120,635
119,406
1,228
122,568
121,377
1,191
124,079
122,948
1,131
125,545
124,484
1,060
128,182
127,244
129,837
128,930
937
907
46,133
3,251
47,011
3,321
47,236
3,348
47,985
3,439
48,106
3,485
48,760
3,539
-803
-827
-842
-860
-910
-932
43,188
11,633
10,189
43,984
11,769
10,221
44,189
11,887
10,268
44,828
11,961
10,321
44,912
11,980
10,445
45,510
12,042
10,493
45,784
3,292
1,209
43,701
11,633
9,547
99,864
7,224
289
45,287
3,262
1,176
43,201
11,526
9,514
98,253
7,109
292
44,752
3,206
1,166
42,711
11,472
9,372
95,664
6,881
283
43,997
3,148
1,168
42,018
11,409
9,326
94,267
6,783
301
43,400
3,105
1,161
41,456
11,302
9,273
92,827
6,673
294
42,342
3,031
1,208
40,519
11,181
9,209
90,946
6,531
306
83,613
20,146
16,876
85,327
20,308
16,934
86,641
20,452
16,986
87,923
20,541
17,080
90,235
20,598
17,348
91,708
20,741
17,388
191
175
173
177
162
158
142
143
136
128
142
127
379
366
343
359
373
318
9,998
10,046
10,096
10,143
10,283
10,335
9,068
9,130
9,191
9,244
9,372
9,420
16,497
16,567
16,643
16,721
16,975
17,070
34,830
3,810
7,493
3,094
4,399
35,595
3,855
7,560
3,033
4,527
35,900
3,847
7,489
2,861
4,628
36,937
3,919
7,129
2,412
4,717
37,291
3,938
6,877
2,082
4,795
37,923
3,980
6,856
1,977
4,879
33,245
3,665
5,432
34,579
3,742
5,676
1,025
4,651
35,287
3,786
5,678
35,772
3,808
5,707
36,150
3,818
5,815
74,907
7,733
8,307
76,641
7,823
8,363
77,995
7,874
8,398
79,291
7,922
8,452
81,603
8,126
8,524
83,055
8,218
8,591
943
882
920
837
4,457
34,088
3,724
5,588
1,029
4,559
4,735
4,825
4,895
7,470
7,561
3,378
42,755
35,941
3,318
43,693
36,879
3,145
44,091
37,252
2,697
45,288
38,409
2,373
45,732
38,696
2,280
46,480
39,378
1,243
41,098
34,210
1,296
42,104
35,064
1,290
42,707
35,615
1,207
43,544
36,400
1,153
44,134
37,027
1,202
44,582
37,431
1,228
89,718
78,012
1,191
91,636
79,757
336
82
348
85
357
89
365
91
388
91
400
91
266
436
271
454
281
444
287
452
290
455
300
447
387
448
2,872
8,429
5,361
3,068
3,517
3,453
4,643
2,773
10,997
7,151
1,189
5,187
19,605
11,446
8,159
5,880
7,127
8,213
7,370
23,796
11,706
1,558
2,758
9,615
5,946
3,669
2,762
3,071
4,244
3,179
9,895
6,814
2,854
9,841
6,096
3,745
2,831
3,160
4,275
3,373
10,112
6,814
2,857
9,964
6,196
3,768
2,854
3,174
4,340
3,375
10,242
6,839
2,914
10,449
6,510
3,939
2,881
3,267
4,404
3,562
10,477
6,879
2,948
10,371
6,408
3,963
2,956
3,277
4,543
3,455
10,666
7,037
3,074
10,396
6,360
4,036
3,004
3,338
4,629
3,548
10,896
7,102
854
126
847
127
835
129
835
131
851
133
867
132
5,834
5,840
5,875
5,914
6,053
6,103
975
2,546
7,885
5,033
2,852
3,471
3,171
4,198
2,476
9,760
6,888
1,149
2,637
8,171
5,242
2,929
3,411
3,201
4,278
2,601
10,041
7,040
1,142
IK
2,796
8,568
5,535
3,033
3,496
3,430
4,529
2,703
10,759
7,108
1,169
415
460
422
478
427
445
440
441
5,392
19,956
11,751
8,205
6,157
7,392
8,453
7,969
24,823
12,118
1,546
5,705
20,516
12,164
8,352
6,177
7,575
8,624
7,967
25,348
11,792
1,555
6,042
21,001
12,501
8,500
6,360
7,879
8,973
8,318
26,029
11,842
1,578
6,161
21,180
12,480
8,700
6,363
7,995
9,140
8,576
26,701
11,961
1,584
675
661
196
195
196
194
194
194
5,264
5,301
9,952
10,129
10,376
10,042
10,070
10,184
K
IK
K
II*
1997
1998
IV
UK
II*
K
13,256
13,095
13,355
13,192
15,260
14,378
15,634
14,661
15,828
14,853
15,808
15,039
16,020
15,240
16,080
15,347
223
161
163
881
974
975
768
780
734
8,952
9,113
9,254
9,345
9,425
9,515
10,858
11,198
11,346
11,300
11,482
11,509
740
754
760
780
-286
-290
-294
-299
-300
-301
-168
7,953
2,317
2,450
8,100
2,323
2,478
8,229
2,329
2,493
8,306
2,332
2,507
8,372
2,338
2,547
8,454
2,353
2,548
9,910
2,686
2,664
801
812
823
839
844
-174
-176
-179
-181
-181
10,223
2,743
2,668
10,358
2,792
2,678
10,298
2,822
2,688
10,461
2,829
2,730
10,484
2,849
2,747
31
35
28
25
30
18
16
14
16
15
14
15
2,419
2,443
2,465
2,482
2,517
2,530
2,648
2,654
2,662
2,672
2,716
2,732
7,148
7,267
7,352
7,459
7,572
7,640
7,900
8,002
7,703
8,123
8,248
8,305
680
683
692
695
856
868
869
872
885
883
1,221
1,204
1,162
1,180
2,299
2,430
2,475
2,305
2,349
2,321
104
118
155
114
48
46
774
867
869
663
671
621
1,024
1,046
1,067
1,090
1,114
1,134
1,525
1,563
1,606
1,643
1,678
1,700
216
229
265
223
161
163
881
974
975
768
780
734
8,737
6,945
8,885
7,069
8,989
7,191
9,122
7,330
9,264
7,441
9,352
7,539
9,976
8,274
10,224
8,516
10,371
8,653
10,532
8,807
10,702
8,939
10,775
8,998
64
190
588
732
449
283
840
759
945
484
66
202
616
747
458
289
837
781
942
511
66
200
637
762
472
290
818
788
976
523
68
208
686
783
486
297
811
800
982
528
74
192
703
819
512
306
822
808
997
530
76
189
733
825
510
314
823
808
121
112
646
128
114
663
137
115
693
133
114
733
137
107
749
142
96
756
1,482
1,025
1,545
1,089
1,553
1,088
1,563
1,095
457
727
645
456
737
680
465
740
694
468
746
712
2,344
1,792
2,367
1,816
2,420
1,797
2,466
1,792
2,497
1,824
345
329
345
323
346
317
343
309
1,118
1,148
1,135
1,140
354
311
1,159
1,005
1,174
1,204
1,209
1,227
1,672
1,217
454
756
697
1,247
1,588
1,133
455
759
713
1,281
543
690
722
743
754
730
758
2,537
1,813
2,677
1,703
2,724
1,708
2,768
1,719
2,825
1,725
2,844
1,762
2,905
1,777
344
303
431
141
431
138
1,166
1,131
1,138
430
138
1,151
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
Southeast
1997
13,146
12,923
399
462
5,305
19,767
11,736
8,031
6,011
7,281
8,346
7,823
24,362
11,879
1,555
657
265
682
907
98,957
flft QQC
oo,yyo
5,331
13,050
12,786
1,164
937
97,316
85,474
659
229
676
1,060
94,604
82,813
5,284
12,901
12,672
1,129
1,131
93,136
81,018
South Dakota
IV
731
487
8,104
663
216
724
534
7,991
5,234
12,720
12,504
713
667
7,786
667
1998
UK
2,719
8,650
5,654
2,996
3,478
3,342
4,398
2,669
10,404
7,145
1,157
741
7,656
5,072
North Dakota
1997
K
2,658
8,345
5,398
2,947
3,423
3,256
4,356
2,633
10,218
7,092
1,150
802
1
2
3
434
137
1,154
446
140
1,176
445
139
1,194
Line
1998
lr
IK
UK
IV
K
II*
1,458,543
1,444,754
13,789
1,473,455
1,459,251
14,204
1,489,403
1,475,788
13,615
1,507,310
1,494,950
12,359
1,524,915
1,514,034
10,880
1,542,120
1,530,708
11,412
1
2
3
1,000,669
68,995
5,851
937,524
253,228
267,790
3,067
264,723
1,012,920
69,768
5,753
948,905
254,705
269,844
2,995
266,850
1,026,162
70,688
5,914
961,388
256,051
271,965
2,998
268,966
1,042,789
71,872
5,791
976,709
256,875
273,726
2,858
270,868
1,055,401
73,116
5,992
988,276
257,859
278,780
2,964
275,816
1,069,550
73,992
5,877
1,001,435
259,971
280,715
3,050
277,665
4
5
6
7
8
9
10
11
815,602
85,461
99,605
10,928
88,677
825,862
85,563
101,495
11,339
90,156
837,857
85,744
102,561
10,761
91,800
853,674
86,437
102,679
9,533
93,146
865,348
87,192
102,860
7,982
94,878
877,078
87,818
104,654
8,397
96,257
12
13
14
15
16
13,789
986,879
819,426
6,473
8,849
62,412
171,205
89,577
81,628
71,167
62,578
102,401
66,497
267,844
167,453
33,467
18,920
115,066
14,204
998,716
831,550
6,615
9,010
62,990
172,900
91,043
81,857
72,563
63,293
102,572
69,247
272,359
167,166
33,133
18,842
115,191
13,615
1,012,547
843,362
6,921
9,117
64,311
173,593
91,229
82,365
74,243
64,373
104,188
69,663
276,953
169,184
32,823
18,928
117,433
12,359
1,030,430
859,705
6,877
9,324
65,989
178,006
94,441
83,565
75,981
65,508
105,543
71,234
281,244
170,725
32,800
18,972
118,953
10,880
1,044,520
871,961
7,054
9,333
66,990
178,454
95,060
83,394
75,938
65,886
107,260
72,469
288,577
172,559
33,332
19,128
120,099
11,412
1,058,138
884,292
7,289
9,156
68,404
177,748
94,417
83,331
76,217
66,850
109,025
74,570
295,034
173,847
33,500
18,924
121,423
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
SURVEY OF CURRENT BUSINESS
So • November 1998
Table 2.—Personal Income by Major Source
[Millions of dollars, seasonally
Arkansas
Alabama
1997
Item
Line
Income by Place of Residence
1 Personal income (lines 4-11)
.
Nonfarm
personal
income
2
Farm income (line 17)
3
\r
II'
88,320
87,188
1,131
1997
1998
1998
\\P
I'
II'
lllr
IV
V
II"
91,485
90,690
794
92,357
91,490
867
48,605
46,858
1,747
49,280
47,476
1,804
49,646
47,933
1,713
50,281
48,773
1,508
50,780
49,468
1,313
51,185
49,780
1,404
III'-
IV
I'
88,980
87,832
1,148
89,630
88,593
1,037
90,682
89,776
907
4
5
6
7
8
9
10
11
Derivation of Personal Income
Earnings by place of work (lines 12-16 or 17-34) 2
Less'1 Personal contributions for3 social insurance
Plus Adjustment for residence
Equals' Net earnings by place of residence
Plus* Dividends interest and rent4
Plus* Transfer payments
State unemployment insurance benefits
Transfers excluding State unemployment insurance benefits ....
61,577
4,499
694
57,771
12,435
18,114
208
17,906
62,040
4,530
708
58,218
12,485
18,277
200
18,077
62,505
4,573
721
58,653
12,533
18,444
201
18,242
63,444
4,650
737
59,531
12,560
18,591
207
18,384
63,891
4,707
760
59,943
12,615
18,927
210
18,717
64,531
4,743
774
60,562
12,729
19,065
224
18,841
33,869
2,317
-328
31,223
7,080
10,302
208
10,094
34,453
2,352
-337
31,764
7,136
10,381
199
10,182
34,703
2,375
-332
31,995
7,186
10,465
197
10,268
35,320
2,434
-348
32,537
7,215
10,529
187
10,342
35,678
2,486
^363
32,828
7,247
10,706
189
10,517
35,949
2,494
-358
33,096
7,315
10,773
191
10,582
12
13
14
15
16
Earnings by Place of Work
Components of earnings:
Wage and salary disbursements
Other labor income 5
Proprietors' income .
...
Farm proprietors' income
Nonfarm proprietors' income
49,850
5,352
6,375
997
5,378
50,223
5,342
6,476
1,011
5,464
50,720
5,336
6,449
900
5,549
51,664
5,387
6,393
771
5,622
52,102
5,404
6,385
656
5,730
52,577
5,414
6,540
723
5,817
25,988
2,869
5,012
1,516
3,495
26,395
2,888
5,170
1,576
3,594
26,665
2,885
5,153
1,486
3,667
27,374
2,935
5,011
1,281
3,729
27,853
2,960
4,865
1,081
3,784
27,977
2,964
5,007
1,163
3,844
1,131
60,445
49,313
338
632
3,858
13,312
7,431
5,882
4,074
3,518
5,907
3,459
14,215
11,132
2,584
846
7,701
1,148
60,892
49,775
340
638
3,891
13,432
7,511
5,921
4,051
3,575
5,956
3,535
14,356
11,117
2,556
835
7,726
1,037
61,468
50,269
351
632
3,904
13,381
7,432
5,949
4,123
3,606
6,028
3,680
14,565
11,199
2,531
840
7,828
907
62,538
51,179
353
- 616
3,962
13,831
7,737
6,094
4,197
3,692
6,154
3,632
14,743
11,359
2,533
839
7,987
794
63,096
51,926
374
624
4,052
13,805
7,779
6,026
4,153
3,687
6,200
3,786
15,246
11,170
2,542
847
7,781
867
63,664
52,434
387
605
4,180
13,660
7,701
5,958
4,138
3,731
6,331
3,892
15,510
11,231
2,558
833
7,840
1,747
32,122
26,983
242
169
1,925
7,603
4,212
3,391
2,746
1,727
3,805
1,634
7,132
5,139
905
283
3,950
1,804
32,649
27,491
247
177
2,012
7,732
4,285
3,447
2,807
1,772
3,766
1,686
7,292
5,157
895
285
3,977
1,713
32,990
27,767
257
177
2,033
7,744
4,264
3,479
2,852
1,789
3,811
1,673
7,433
5,223
890
286
4,047
1,508
33,812
28,469
266
181
2,086
8,081
4,508
3,574
2,898
1,790
3,893
1,709
7,565
5,344
899
288
4,157
1,313
34,365
29,108
282
183
2,108
8,025
4,470
3,555
2,953
1,873
4,242
1,803
7,639
5,256
922
298
4,037
1,404
34,544
29,223
291
183
2,195
7,995
4,400
3,595
2,980
1,906
3,999
1,853
7,821
5,321
929
296
4,097
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Earnings by Industry
Farm
Nonfarm
Private
Agricultural services forestry fishing, and other6
Mining
Manufacturing
Durable goods
Nondurable goods
Transportation and public utilities
Wholesale trade
Retail trade
Finance insurance and real estate
Services
Government and government enterprises
Federal civilian
Military
State and iocal
.
.
...
Mississippi
Louisiana
Income by Place of Residence
1 Personal income (lines 4-11)
Nonfarm personal income
2
Farm income (line 17)
3
4
5
6
7
8
9
10
11
Derivation of Personal Income
Earnings by place of work (lines 12-16 or 17-34)
Less: Personal contributions for3 social insurance2
Plus: Adjustment for residence
Equals: Net earnings by place of residence
Plus: Dividends, interest, and rent4
Plus* Transfer payments
State unemployment insurance benefits
Transfers excluding State unemployment insurance benefits ....
Earnings by Place of Work
Components of earnings:
wage and salary disbursements
12
13
Other labor income 5
14
Proprietors' income ....
15
Farm proprietors' income
Nonfarm proprietors' income
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
1997
Item
Line
Earnings by Industry
Farm
Nonfarm
Private
Agricultural services forestry fishing and other6
Mining
Construction ....
. . .
.
Manufacturing
Durable goods
Nondurable goods
Transportation and public utilities
Wholesale trade
Retail trade
Finance insurance and real estate
Services
Government and government enterprises
Federal civilian .
Military
State and local
See footnotes at end of table.
1997
1998
1998
\r
II'-
III'
IV
I'
II"
I'
IIr
III'
IV
V
II"
87,634
87,132
501
88,603
88,098
505
;89,315
88,781
535
90,825
90,360
465
91,797
91,354
443
92,557
92,105
452
48,574
47,842
732
49,183
48,446
737
49,548
48,818
730
50,240
49,602
638
50,902
50,307
595
51,405
50,795
610
60,136
3,977
-173
55,985
12,882
18,766
145
18,621
61,086
4,036
-175
56,875
12,934
18,794
126
18,668
61,727
4,072
-172
57,483
12,982
18,851
124
18,727
63,258
4,180
-185
58,893
13,011
18,921
120
18,801
63,928
4,238
-174
59,516
13,056
19,225
116
19,109
64,489
4,270
-172
60,046
13,164
19,347
124
19,224
32,654
2,520
1,014
31,148
6,126
11,300
128
11,172
33,212
2,567
1,022
31,667
6,161
11,355
118
11,237
33,471
2,588
1,045
31,928
6,193
11,427
122
11,305
34,126
2,649
1,065
32,543
6,211
11,486
113
11,373
34,604
2,700
1,064
32,969
6,237
11,696
110
11,586
34,988
2,727
1,067
33,328
6,294
11,782
117
11,665
48,133
5,304
6,698
344
6,354
48,964
5,318
6,804
349
6,455
49,498
5,307
6,922
380
6,543
50,936
5,395
6,927
310
6,617
51,457
5,428
7,044
284
6,760
51,923
5,440
7,126
287
6,839
26,024
2,854
3,776
558
3,217
26,497
2,873
3,842
565
3,277
26,706
2,866
3,899
559
3,340
27,371
2,905
3,850
468
3,382
27,795
2,934
3,875
420
3,456
28,119
2,951
3,919
428
3,491
501
59,634
49,349
293
3,109
4,347
8,340
3,381
4,960
4,663
3,352
5,683
3,138
16,424
10,286
1,576
771
7,939
505
60,581
50,219
302
3,128
4,499
8,428
3,486
4,942
4,769
3,441
5,711
3,282
16,660
10,362
1,552
773
8,037
535
61,193
50,739
310
3,200
4,555
8,582
3,545
5,037
4,853
3,493
5,763
3,264
16,720
10,454
1,542
782
8,130
465
62,793
52,274
328
3,371
4,692
8,908
3,805
5,102
5,042
3,601
5,899
3,343
17,092
10,518
1,540
783
8,195
443
63,485
52,799
326
3,558
5,024
8,845
3,763
5,082
4,934
3,629
6,082
3,228
17,174
10,686
1,576
775
8,336
452
64,036
53,274
336
3,469
5,139
8,661
3,596
5,065
5,000
3,682
6,187
3,301
17,497
10,763
1,584
753
8,426
732
31,922
25,659
214
276
1,910
7,129
4,401
2,728
2,200
1,534
3,361
1,457
7,576
6,263
1,124
677
4,462
737
32,475
26,165
211
300
1,969
7,223
4,468
2,756
2,224
1,565
3,387
1,542
7,743
6,310
1,119
669
4,522
730
32,741
26,344
214
300
2,068
7,201
4,447
2,754
2,284
1,587
3,436
1,514
7,739
6,397
1,104
662
4,631
638
33,488
27,089
227
317
2,149
7,472
4,675
2,797
2,319
1,648
3,506
1,548
7,905
6,399
1,105
656
4,639
595
34,009
27,426
241
322
2,254
7,536
4,741
2,795
2,252
1,703
3,588
1,549
7,982
6,583
1,125
694
4,765
610
34,378
27,714
249
310
2,285
7,543
4,720
2,823
2,252
1,746
3,641
1,589
8,097
6,664
1,131
695
4,839
SURVEY OF CURRENT BUSINESS
November 1998 •
8l
and Earnings by Industry, 1997:M 998:11!—Continued
adjusted at annual rates]
K
IV
IK
K
II"
K
1998
1997
1998
UK
II'-
Kentucky
Georgia
Florida
1997
UK
IV
K
1997
II"
Line
1998
K
IK
UK
IV
K
II"
357,042
355,171
1,871
361,288
359,339
1,949
365,944
364,053
1,891
369,115
367,409
1,706
372,556
370,892
1,664
377,843
376,109
1,733
176,047
173,830
2,217
177,802
175,516
2,286
179,814
177,578
2,236
181,816
179,833
1,983
185,692
184,023
1,669
188,259
186,412
1,848
79,137
77,923
1,214
80,111
78,807
1,304
80,926
79,607
1,319
81,836
80,618
1,217
82,772
81,649
1,123
83,591
82,454
1,137
1
2
3
215,380
14,618
218,713
14,847
222,560
15,122
225,099
15,295
227,120
15,483
231,569
15,774
132,312
8,683
133,854
8,770
135,691
8,893
137,600
9,027
141,188
9,333
143,451
9,462
55,554
4,019
56,281
4,058
56,835
4,089
57,612
4,146
58,307
4,221
58,951
4,264
519
514
519
539
562
557
-480
-484
-483
-473
-477
-490
201,281
87,358
68,403
204,380
87,849
69,059
207,956
88,298
69,690
210,343
88,586
70,186
212,200
88,859
71,497
216,352
89,445
72,046
51,055
11,913
16,169
51,739
11,981
16,391
52,264
12,043
16,619
52,992
12,080
16,763
53,610
12,129
17,033
54,197
12,231
17,163
4
5
6
7
8
9
10
11
-264
123,365
26,638
26,044
-264
124,819
26,845
26,138
-264
-267
126,531
27,031
26,252
128,309
27,141
26,366
-331
131,525
27,278
26,890
-339
133,649
27,556
27,055
687
691
687
635
643
704
288
276
268
246
274
254
222
222
245
229
217
242
67,717
68,368
69,003
69,551
70,854
71,341
25,756
25,862
25,984
26,120
26,616
26,801
15,947
16,169
16,375
16,535
16,816
16,921
177,204
18,671
19,505
183,549
18,772
20,239
185,980
18,783
20,336
187,562
18,885
20,674
191,382
19,163
21,025
959
784
718
750
20,275
112,378
11,180
14,042
1,747
12,295
115,752
11,455
13,981
1,427
12,553
117,531
11,573
14,347
1,597
12,750
44,900
4,930
5,724
1,019
4,705
45,442
4,973
5,865
1,110
4,755
45,874
4,991
5,970
1,127
4,843
46,643
5,047
5,922
1,028
4,895
935
19,955
110,482
11,135
14,074
1,999
12,075
928
19,551
108,837
11,099
13,917
2,049
11,869
47,855
5,109
5,987
19,279
107,613
11,103
13,596
1,982
11,614
47,304
5,089
5,914
18,557
180,104
18,698
19,910
1,018
18,892
4,986
5,052
1,871
213,510
180,001
2,192
1,949
216,764
183,507
2,236
1,891
220,669
186,753
2,405
1,706
223,393
188,767
2,236
1,664
225,456
190,602
2,270
1,733
229,836
194,785
2,336
2,217
130,095
110,373
2,286
131,568
111,787
2,236
133,455
113,433
1,983
135,617
115,364
1,669
139,520
118,837
1,848
141,603
120,704
1,214
54,340
45,099
1,304
54,977
45,915
1,319
55,516
46,338
1,217
56,394
47,218
1,123
57,185
47,964
1,137
57,814
48,588
340
354
373
362
347
350
708
348
729
376
751
369
772
382
793
385
824
388
12,767
19,121
11,993
7,128
14,262
14,396
25,405
19,229
72,288
33,509
5,534
3,033
24,942
13,041
19,454
12,327
7,127
14,641
14,643
25,344
20,160
73,634
33,257
5,498
3,080
24,680
13,483
19,615
12,411
7,203
14,884
14,900
25,767
20,414
74,913
33,916
5,460
3,085
25,371
13,807
20,037
12,763
7,274
14,930
14,930
25,789
21,230
75,446
34,626
5,455
3,112
26,059
14,094
20,234
13,054
7,180
14,974
14,281
25,987
21,028
77,387
34,854
5,564
3,077
26,214
14,396
20,387
13,095
7,293
15,041
14,542
26,511
21,725
79,497
35,051
5,573
3,031
26,446
7,404
21,967
9,853
12,114
12,352
11,467
12,401
9,462
34,264
19,721
4,263
2,231
13,227
7,566
21,881
10,023
11,858
12,647
11,469
12,461
9,950
34,708
19,781
4,217
2,209
13,355
7,651
21,946
10,054
11,892
13,163
11,687
12,649
9,904
35,314
20,022
4,177
2233
13,612
7,956
22,058
10,107
11,951
13,328
11,947
12,920
10,019
35,982
20,253
4,181
2,269
13,804
8,109
22,337
10,152
12,185
13,388
12,650
13,187
10,676
37,312
20,682
4,256
2,311
14,116
8,234
22,578
10,293
12,285
13,462
12,765
13,459
11,027
37,968
20,899
4,336
2,273
14,291
949
IK
402
415
1,315
3,509
12,874
7,980
4,894
4,406
3,183
6,016
2,894
13,364
9,221
1,520
1,131
6,570
1,292
3,601
12,760
7,908
4,852
4,464
3,228
6,131
2,972
13,724
9,226
1,508
1,125
6,593
IV
K
II"
1997
\r
IK
UK
77,101
76,591
78,017
77,500
79,083
78,642
441
IVr
II"
79,116
78,710
80,442
80,042
120,220
119,924
121,295
120,980
122,656
122,344
124,373
124,077
125,169
124,890
126,106
125,816
406
400
296
315
312
296
278
290
88,695
5,791
89,631
5,844
90,890
5,922
93,534
6,100
-972
-599
-993
-987
81,947
16,599
21,674
82,815
16,645
21,835
83,969
16,691
21,996
92,573
6,029
-1,027
85,517
16,717
22,139
92,893
6,070
-957
85,830
16,796
22,543
86,447
16,960
22,699
K
172,550
169,583
2,967
175,072
172,199
2,873
177,401
175,115
2,286
179,056
176,696
2,360
76,399
75,892
508
511
517
125,489
8,941
126,979
9,031
127,940
9,111
130,322
9,278
132,115
9,489
133,358
9,564
53,644
3,978
54,225
4,017
55,040
4,076
56,041
4,151
55,671
4,137
56,877
4,225
-922
-920
-942
-968
827
837
840
855
909
901
117,025
25,722
28,500
117,909
25,915
28,727
50,493
11,262
14,645
51,045
11,300
14,757
51,805
11,336
14,876
52,745
11,358
14,979
52,443
11,408
15,265
53,552
11,515
15,375
120,103
26,030
28,939
121,657
26,164
29,580
-965
122,829
26,439
29,788
Line
1998
UK
IK
V
171,247
167,966
3,281
115,639
25,507
28,277
396
1,345
3,422
12,901
7,875
5,025
4,322
3,124
5,860
2,867
12,982
9,176
1,523
1,119
6,534
1998
169,423
166,203
3,220
-909
386
1,309
3,429
12,423
7,525
4,899
4,242
3,090
5,779
2,852
12,828
9,178
1,523
1,119
6,536
K
IV
II"
368
364
361
361
410
397
186
173
167
160
165
170
318
316
314
309
320
328
27,909
28,136
28,365
28,579
29,170
29,391
14,458
14,584
14,709
14,820
15,100
15,204
21,356
21,519
21,682
21,830
22,223
22,370
101,502
10,472
13,515
2,850
10,665
102,724
10,469
13,785
2,912
10,873
103,797
10,448
13,695
2,602
11,093
105,951
10,553
13,818
2,514
11,304
107,963
10,703
13,448
1,917
11,531
108,976
10,719
13,663
1,977
11,686
44,635
4,692
4,318
45,154
4,702
4,369
45,879
4,717
4,445
46,837
4,769
4,435
46,505
4,712
4,454
47,570
4,795
4,511
70,793
7,608
10,294
71,560
7,626
10,445
72,619
7,652
10,619
74,092
7,757
10,724
74,319
7,739
10,835
74,801
7,730
11,003
3,220
122,269
102,300
3,281
123,698
103,627
2,967
124,973
104,649
2,873
127,449
106,955
2,286
129,829
108,758
2,360
130,998
109,781
404
406
412
336
299
288
163
183
181
166
145
151
3,914
3,964
4,033
4,099
4,155
4,223
10,131
10,263
10,438
10,558
10,690
10,852
508
511
517
441
406
400
296
315
312
296
278
290
53,137
43,485
53,714
44,030
54,523
44,609
55,601
45,647
55,265
45,403
56,477
46,450
88,399
76,695
89,316
77,611
90,577
79,004
92,278
80,647
92,615
80,832
93,245
81,253
715
192
730
197
753
197
769
205
782
204
812
196
315
78
331
80
337
82
339
83
349
75
360
74
404
300
415
261
433
331
442
269
461
315
478
309
8,358
30,248
14,751
15,497
7,765
7,577
12,001
7,965
27,478
19,969
2,554
3,028
14,387
8,489
30,289
14,748
15,541
7,874
7,682
12,126
8,111
28,128
20,071
2,531
3,033
14,507
8,586
30,234
14,742
15,493
7,998
7,808
12,399
8,200
28,473
20,325
2,520
3,039
14,765
8,812
30,932
15,220
15,711
8,164
7,976
12,543
8,307
29,247
20,494
2,532
3,005
14,957
8,929
31,307
15,499
15,809
8,132
8,004
12,570
8,329
30,501
21,071
2,567
3,071
15,433
9,017
30,899
15,399
15,500
8,077
8,131
12,772
8,584
31,293
21,216
2,573
3,047
15,596
3,835
13,140
5,393
7,747
2,942
2,656
5,976
2,814
11,729
9,651
1,220
1,156
7,275
3,800
13,327
5,512
7,815
2,983
2,725
5,967
2,993
11,824
9,685
1,225
1,119
7,341
3,853
13,412
5,534
7,878
3,053
2,786
6,062
2,994
12,030
9,914
1,225
1,172
7,518
3,951
13,779
5,767
8,012
3,147
2,877
6,167
3,029
12,274
9,954
1,228
1,147
7,579
3,893
13,540
5,659
7,881
3,100
2,876
6,208
3,080
12,282
9,862
1,239
1,148
7,475
4,025
13,740
5,805
7,935
3,132
2,955
6,388
3,202
12,573
10,027
1,249
1,133
7,645
5,537
19,256
11,003
8,252
6,628
5,732
9,537
5,367
23,933
11,705
2,552
5,559
19,435
11,117
8,318
6,740
5,794
9,529
5,595
24,283
11,706
2,486
5,796
19,553
11,180
8,374
6,674
5,931
9,687
5,655
24,944
11,574
2,443
6,033
20,025
11,492
8,533
7,195
6,096
9,778
5,799
25,011
11,631
2,393
5,824
19,839
11,537
8,302
7,115
6,038
9,979
5,828
25,433
11,782
2,469
5,975
19,502
11,246
8,255
7,102
6,065
10,176
5,926
25,719
11,992
2,526
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Tennessee
1997
1998
IIK
370
1,349
3,334
12,352
7,501
4,851
4,151
3,044
5,721
2,893
12,700
9,062
1,528
1,101
6,433
South Carolina
North Carolina
1997
K
358
1,301
3,378
12,102
7,321
4,781
4,078
2,958
5,689
2,768
12,468
9,241
1,547
1,116
6,578
12
13
14
15
16
271
267
260
251
251
263
8,881
8,953
8,870
8,987
9,062
9,203
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
SURVEY OF CURRENT BUSINESS
82 • November 1998
Table 2.—Personal Income by Major Source
[Millions of dollars, seasonally
West Virginia
Vrginia
Item
Line
1997
K
Income by Place of Residence
1 Personal income (lines 4-11)
.. .
2
Nonfarm personal income
Farm income (line 17)
3
1997
1998
UK
IK
IV
K
\\p
1998
K
IK
UK
IV
K
\\p
173,447
173,079
368
174,637
174,261
376
177,257
176,888
369
179,640
179,298
343
182,660
182,330
330
184,459
184,130
329
33,696
33,711
-16
33,926
33,937
-11
34,099
34,109
-10
34,346
34,363
-17
34,585
34,604
-19
34,861
34,878
-18
4
5
6
7
8
9
10
11
Derivation of Personal Income
Earnings by place of work (lines 12-16 or 17-34)2
Less* Personal contributions for3 social insurance
Plus* Adjustment for residence
Equals' Net earnings by place of residence
Plus' Dividends interest and rent4
Plus' Transfer payments
State unemployment insurance benefits
Transfers excluding State unemployment insurance benefits ....
120,194
8,068
5,671
117,798
30,418
25,231
168
25,063
121,103
8,120
5,582
118,565
30,641
25,431
165
25,266
123,346
8,269
5,700
120,777
30,841
25,638
171
25,467
125,749
8,424
5,549
122,874
30,964
25,802
157
25,646
128,271
8,632
5,693
125,333
31,058
26,269
168
26,101
129,903
8,733
5,572
126,742
31,281
26,436
164
26,271
21,166
1,583
238
19,820
5,012
8,864
140
8,724
21,343
1,594
244
19,993
5,006
8,927
145
8,783
21,453
1,598
261
20,116
5,002
8,981
141
8,840
21,645
1,609
286
20,322
5,000
9,023
134
8,890
21,734
1,621
310
20,423
5,012
9,149
141
9,008
21,951
1,636
317
20,632
5,042
9,187
134
9,053
12
13
14
15
16
Earnings by Place of Work
Components of earnings:
Wage and salary disbursements
Other labor income 5
Proprietors' income
Farm proprietors' income
Nonfarm proprietors' income
101,727
9,726
8,740
188
8,552
102,550
9,691
8,862
197
8,665
104,560
9,769
9,018
191
8,826
106,755
9,860
9,135
168
8,966
108,983
10,027
9,262
151
9,111
110,423
10,094
9,386
143
9,243
17,232
1,880
2,053
-42
2,095
17,411
1,884
2,048
-37
2,085
17,508
1,868
2,077
-36
2,113
17,693
1,866
2,086
-42
2,128
17,755
1,857
2,123
-45
2,168
17,945
1,867
2,140
^4
2,184
368
119,826
93,039
621
638
7,643
15,763
8,058
7,705
7,795
6,596
10,537
8,355
35,091
26,787
8,704
5,410
12,672
376
120,727
94,142
631
645
7,509
15,988
8,189
7,799
8,002
6,525
10,513
8,613
35,716
26,585
8,607
5,374
12,603
369
122,978
96,057
649
661
7,599
16,159
8,242
7,917
8,424
6,633
10,712
8,631
36,589
26,921
8,477
5,351
13,093
343
125,406
98,489
667
683
7,774
16,560
8,557
8,003
8,741
6,759
10,915
8,861
37,528
26,917
8,470
5,407
13,039
330
127,941
100,654
685
614
7,799
16,750
8,602
8,147
8,766
6,882
11,038
9,407
38,713
27,288
8,601
5,426
13,260
329
129,574
102,273
708
608
7,969
16,587
8,376
8,211
8,817
7,016
11,236
9,621
39,712
27,301
8,581
5,377
13,343
-16
21,181
17,131
72
1,466
1,450
3,223
1,780
1,443
1,663
1,065
2,098
848
5,246
4,050
904
96
3,050
-11
21,354
17,280
72
1,505
1,320
3,358
1,876
1,482
1,675
1,059
2,091
887
5,315
4,074
919
96
3,058
-10
21,463
17,402
75
1,487
1,354
3,344
1,854
1,490
1,694
1,063
2,097
882
5,406
4,061
931
97
3,033
-17
21,662
17,608
83
1,511
1,346
3,423
1,934
1,489
1,698
1,068
2,121
889
5,469
4,054
941
97
3,016
-19
21,754
17,651
89
1,391
1,396
3,362
1,825
1,537
1,766
1,079
2,163
861
5,544
4,103
954
99
3,051
-18
21,969
17,814
92
1,372
1,388
3,436
1,878
1,558
1,751
1,083
2,194
877
5,622
4,155
953
97
3,105
IV
K
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Earnings by Industry
Farm
Nonfarm
Private ..
Aoricultural services forestry fishino and other6
Mining
.. ' .
...
Construction
Manufacturing
. . .
Durable goods
Nondurable goods
Transportation and public utilities
Wholesale trade
Retail trade
Finance insurance and real estate
Services
Government and government enterprises
Federal civilian
.
Military
State and local .
Line
Income by Place of Residence
1 Personal income (lines 4-11)
2
Nonfarm personal income
3
Farm income (line 17)
4
5
6
7
8
9
10
11
Derivation of Personal Income
Earnings
by place of work (lines 12-16 or 17-34)2
1
Less Personal contributions for3 social insurance
Plus' Adjustment
for residence
Equals1 Net earnings by place of residence
Plus' Dividends interest and rent4
Plus: Transfer payments
State unemployment insurance benefits
Transfers excluding State unemployment insurance benefits ....
Earnings by Place of Work
Components of earnings:
12
wage and salary disbursements
13
Other labor income 5
14
Proprietors' income .
.
Farm proprietors' income
15
16
Nonfarm proprietors' income
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Earnings by Industry
Farm
Nonfarm
Private
Agricultural services forestry fishing and other6 .
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
.
Transportation and public utilities
Wholesale trade
Retail trade
Finance insurance, and real estate
Services
Government and government enterprises
Federal civilian ..
Military
State and local
See footnotes at end of table.
Oklahoma
Texas
1997
Item
1997
1998
IK
1998
K
IK
UK
IV
K
\\P
66,605
65,827
778
67,061
66,179
881
67,492
66,634
858
67,052
66,231
821
68,288
67,425
864
68,978
68,176
802
447,197
444,367
2,830
455,712
452,795
2,917
464,924
461,950
2,974
470,919
468,348
2,571
483,296
480,895
2,401
490,069
487,598
2,471
45,449
3,235
755
42,969
10,277
13,359
107
13,252
45,744
3,242
773
43,276
10,333
13,452
99
13,353
46,035
3,260
786
43,561
10,383
13,547
94
13,453
45,393
3,202
815
43,005
10,413
13,634
92
13,542
46,424
3,289
836
43,971
10,447
13,870
101
13,770
46,985
3,333
841
44,494
10,527
13,958
103
13,855
338,761
21,327
-911
316,523
63,921
66,753
1,020
65,733
346,645
21,799
-948
323,898
64,565
67,249
979
66,270
355,337
22,335
-995
332,007
65,135
67,782
971
66,811
360,949
22,685
-1,011
337,253
65,480
68,186
880
67,307
372,723
23,589
-1,083
348,052
65,733
69,511
864
68,647
378,698
23,948
-1,110
353,640
66,286
70,143
994
69,148
34,986
3,967
6,496
627
5,868
35,102
3,922
6,720
729
5,991
35,338
3,900
6,797
705
6,092
34,779
3,803
6,811
671
6,140
35,588
3,885
6,951
710
6,241
36,112
3,918
6,955
642
6,312
256,795
25,755
56,211
2,070
54,141
263,110
26,013
57,522
2,148
55,374
270,114
26,359
58,864
2,204
56,661
275,064,
26,512
59,372
1,814
57,558
284,964
27,416
60,343
1,624
58,719
289,730
27,712
61,256
1,663
59,594
778
44,671
36,072
235
2,186
2,217
7,322
4,752
2,570
3,820
2,305
4,552
2,321
11,114
8,599
2,029
944
5,625
881
44,863
36,316
237
2,211
2,203
7,322
4,750
2,572
3,693
2,331
4,569
2,464
11,286
8,546
1,990
934
5,622
858
45,177
36,536
245
2,203
2,184
7,323
4,771
2,552
3,803
2,349
4,551
2,418
11,460
8,641
1,962
949
5,730
821
44,572
35,988
238
2,226
2,115
7,319
4,777
2,543
3,811
2,316
4,510
2,335
11,117
8,585
1,953
945
5,687
864
45,561
36,692
238
2,221
2,165
7,517
4,850
2,667
3,900
2,303
4,596
2,346
11,406
8,868
1,994
956
5,918
802
46,183
37,244
245
2,189
2,211
7,522
4,820
2,702
3,939
2,326
4,678
2,412
11,721
8,939
1,999
943
5,997
2,830
335,931
288,111
1,830
15,059
20,562
54,385
29,663
24,722
30,939
22,535
30,993
23,316
88,491
47,820
8,274
4,064
35,482
2,917
343,728
295,529
1,898
15,030
21,151
56,112
31,113
24,999
31,424
23,273
31,382
24,161
91,099
48,198
8,277
4,047
35,875
2,974
352,363
303,617
1,998
15,528
21,886
57,692
32,212
25,481
32,235
23,978
31,946
24,943
93,412
48,746
8,302
4,039
36,406
2,571
358,377
309,241
2,025
15,975
22,425
58,656
32,719
25,938
33,012
24,526
32,433
25,205
94,983
49,137
8,276
4,009
36,851
2,401
370,323
320,402
2,083
16,669
23,298
61,382
34,988
26,394
33,737
25,300
33,347
26,665
97,921
49,920
8,409
4,163
37,348
2,471
376,227
325,851
2,153
16,456
23,904
61,704
35,314
26,389
34,284
25,729
33,952
27,466
100,204
50,376
8,496
4,113
37,767
K
UK
\\P
November 1998 • 83
SURVEY OF CURRENT BUSINESS
and Earnings by Industry, 1997:1-1998:11l—Continued
adjusted at annual rates]
Southwest
\r
II'
IV
\\P
!r
lr
llr
1997
1998
1997
1998
III'
New Mexico
Arizona
1997
IV
III'-
\r
II"
1998
Line
\r
IIr
UK
IV
\r
II"
644,274
639,667
4,607
655,280
650,417
4,863
666,804
661,914
4,890
674,515
670,159
4,357
690,059
685,852
4,207
699,771
695,526
4,245
97,701
97,072
630
99,266
98,608
658
100,940
100,276
664
102,821
102,232
589
104,457
103,906
551
106,370
105,761
609
32,771
32,402
369
33,242
32,836
407
33,449
33,054
395
33,724
33,348
376
34,018
33,626
391
34,353
33,991
362
1
2
3
474,939
31,105
189
444,024
96,539
103,711
1,362
102,349
484,937
31,711
180
453,406
97,429
104,445
1,301
103,144
495,582
32,385
152
463,349
98,221
105,235
1,290
103,945
502,596
32,828
167
469,934
98,699
105,882
1,197
104,685
516,875
33,949
136
483,062
99,104
107,894
1,182
106,712
525,319
34,484
123
490,958
99,966
108,848
1,379
107,469
68,207
4,821
261
63,647
17,133
16,921
157
16,765
69,561
4,915
266
64,912
17,298
17,055
149
16,906
71,055
5,021
265
66,299
17,446
17,195
150
17,046
72,851
5,152
264
67,963
17,534
17,324
153
17,171
74,186
5,268
273
69,191
17,633
17,633
139
17,494
75,849
5,381
277
70,745
17,819
17,807
193
17,614
22,523
1,722
84
20,885
5,208
6,678
78
6,600
22,987
1,755
88
21,321
5,233
6,688
74
6,615
23,154
1,768
96
21,482
5,257
6,711
75
6,636
23,402
1,789
100
21,714
5,272
6,738
73
6,666
23,541
1,803
110
21,848
5,290
6,879
78
6,801
23,787
1,823
115
22,079
5,334
6,941
89
6,852
4
5
6
7
8
9
10
11
365,840
37,131
71,968
3,290
68,678
373,771
37,398
73,767
3,523
70,244
382,439
37,766
75,378
3,543
71,835
388,714
37,915
75,966
3,020
72,946
400,623
38,992
77,260
2,836
74,424
407,549
39,431
78,339
2,818
75,521
55,796
5,533
6,878
374
6,504
56,951
5,571
7,038
395
6,644
58,231
5,619
7,205
396
6,809
59,875
5,711
7,266
319
6,947
60,989
5,798
7,399
274
7,125
62,388
5,896
7,565
321
7,244
18,263
1,876
2,384
218
2,166
18,609
1,892
2,486
252
2,234
18,755
1,888
2,511
237
2,274
18,996
1,889
2,518
216
2,301
19,082
1,893
2,567
228
2,339
19,319
1,905
2,562
192
2,370
12
13
14
15
16
4,607
470,332
397,783
2,829
18,725
29,210
72,900
43,317
29,583
40,224
30,089
45,641
32,639
125,527
72,550
13,562
6,326
52,662
4,863
480,074
407,006
2,933
18,830
30,061
74,814
44,862
29,951
40,560
30,998
46,130
33,829
128,851
73,068
13,544
6,282
53,242
4,890
490,691
416,870
3,068
19,309
30,920
76,662
46,238
30,425
41,603
31,876
46,875
34,717
131,839
73,822
13,520
6,274
54,029
4,357
498,239
424,079
3,097
19,814
31,537
78,117
47,147
30,970
42,497
32,544
47,645
35,161
133,667
74,161
13,482
6,231
54,447
4,207
512,669
437,237
3,178
20,331
32,619
81,377
49,783
31,594
43,421
33,327
48,715
36,819
137,449
75,431
13,681
6,414
55,337
4,245
521,074
444,719
3,287
20,046
33,377
81,760
50,121
31,639
44,063
33,876
49,616
37,956
140,739
76,355
13,821
6,325
56,209
630
67,577
57,109
610
678
4,908
9,376
7,574
1,802
4,095
4,304
7,554
5,891
19,692
10,468
1,912
794
7,763
658
68,903
58,328
641
763
5,056
9,557
7,681
1,876
4,094
4,429
7,615
6,039
20,133
10,576
1,939
788
7,848
664
70,391
59,716
662
760
5,192
9,777
7,893
1,884
4,187
4,568
7,779
6,182
20,610
10,676
1,935
785
7,955
589
72,263
61,591
664
777
5,353
10,224
8,268
1,955
4,307
4,704
8,047
6,412
21,104
10,672
1,940
784
7,947
551
73,635
62,735
679
631
5,494
10,514
8,525
1,988
4,364
4,747
8,083
6,629
21,594
10,901
1,950
795
8,156
609
75,239
63,982
704
599
5,559
10,605
8,612
1,993
4,399
4,828
8,236
6,872
22,180
11,258
2,008
781
8,469
369
22,154
16,491
155
802
1,522
1,817
1,327
489
1,369
945
2,542
1,111
6,229
5,662
1,347
523
3,792
407
22,580
16,832
158
826
1,651
1,822
1,318
504
1,349
964
2,565
1,165
6,332
5,748
1,339
512
3,897
395
22,759
17,001
163
818
1,658
1,870
1,362
508
1,378
982
2,600
1,174
6,357
5,758
1,321
501
3,937
376
23,027
17,259
170
835
1,644
1,918
1,383
535
1,368
998
2,655
1,208
6,463
5,767
1,313
493
3,962
391
23,150
17,408
179
809
1,662
1,965
1,420
544
1,420
977
2,689
1,179
6,529
5,742
1,328
499
3,915
362
23,425
17,642
185
801
1,704
1,929
1,374
555
1,440
993
2,749
1,206
6,634
5,782
1,317
489
3,976
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Rocky Mountain
\r
\\r
1997
1998
III'-
IV
Idaho
Colorado
1997
\r
II"
lr
IIr
1997
1998
III''
IV
I'-
II"
1998
Line
lr
llr
lllr
IV
\r
II"
195,137
193,166
1,971
198,256
196,207
2,049
201,525
199,442
2,083
203,850
201,831
2,019
207,808
205,883
1,925
210,786
208,775
2,010
102,352
101,711
641
104,256
103,576
680
106,213
105,526
687
107,813
107,152
661
ll 0,448
109,832
616
112,098
111,460
638
24,225
23,521
705
24,563
23,836
727
24,905
24,159
746
25,029
24,307
721
25,469
24,792
677
25,847
25,144
703
1
2
3
142,861
9,668
280
133,473
33,473
28,191
453
27,738
145,660
9,844
287
136,103
33,737
28,415
422
27,993
148,653
10,047
283
138,889
33,975
28,661
418
28,243
150,742
10,182
296
140,855
34,117
28,877
418
28,459
154,248
10,457
296
144,087
34,288
29,433
452
28,981
156,874
10,625
296
146,545
34,626
29,615
439
29,176
75,589
4,924
65
70,730
18,229
13,393
173
13,219
77,311
5,028
64
72,347
18,383
13,526
153
13,373
79,103
5,145
61
74,020
18,521
13,672
153
13,520
80,600
5,240
60
75,421
18,604
13,789
148
13,641
83,059
5,424
55
77,691
18,701
14,057
156
13,901
84,523
5,516
54
79,062
18,892
14,145
147
13,998
17,142
1,226
237
16,153
4,108
3,964
108
3,856
17,436
1,247
245
16,434
4,151
3,978
104
3,874
17,746
1,273
245
16,718
4,190
3,997
103
3,895
17,816
1,280
256
16,792
4,213
4,024
107
3,917
18,174
1,315
259
17,118
4,233
4,117
122
3,995
18,511
1,339
259
17,430
4,276
4,141
117
4,024
4
5
6
7
8
9
10
11
113,053
11,360
18,448
1,046
17,403
115,301
11,431
18,928
1,095
17,833
117,858
11,541
19,254
1,108
18,146
119,715
11,576
19,451
1,031
18,419
122,551
11,821
19,876
913
18,963
124,720
11,968
20,186
957
19,229
60,328
5,897
9,364
358
9,006
61,730
5,941
9,640
390
9,250
63,275
6,017
9,811
391
9,420
64,602
6,064
9,934
361
9,573
66,622
6,247
10,190
308
9,881
67,855
6,328
10,340
318
10,022
12,817
1,324
3,001
379
2,622
13,017
1,328
3,091
390
2,701
13,273
1,338
3,134
401
2,734
13,359
1,328
3,129
370
2,759
13,673
1,357
3,144
317
2,827
13,949
1,379
3,183
328
2,855
12
13
14
15
16
1,971
140,890
117,571
963
3,512
10,941
18,025
12,314
5,711
12,245
8,159
14,901
9,999
38,825
23,319
5,279
1,781
16,260
2,049
143,611
120,053
1,001
3,535
11,316
18,267
12,384
5,883
12,336
8,371
15,111
10,429
39,687
23,558
5,266
1,762
16,529
2,083
146,570
122,785
1,046
3,536
11,401
18,674
12,739
5,935
12,876
8,524
15,382
10,654
40,693
23,785
5,233
1,771
16,780
2,019
148,723
124,889
1,067
3,575
11,624
18,990
12,954
6,036
13,019
8,724
15,588
10,904
41,400
23,834
5,238
1,781
16,815
1,925
152,323
128,076
1,101
3,596
12,333
19,290
13,224
6,066
13,465
8,840
15,734
11,100
42,617
24,247
5,389
1,828
17,030
2,010
154,863
130,368
1,143
3,566
12,393
19,825
13,498
6,327
13,536
8,961
16,079
11,393
43,472
24,495
5,441
1,804
17,250
641
74,948
63,482
478
1,475
5,546
9,036
6,183
2,854
7,070
4,578
7,484
5,868
21,948
11,466
2,579
1,064
7,823
680
76,631
65,084
498
1,433
5,716
9,139
6,215
2,924
7,170
4,697
7,595
6,199
22,637
11,548
2,572
1,049
7,927
687
78,416
66,770
510
1,463
5,766
9,340
6,412
2,928
7,618
4,802
7,683
6,381
23,207
11,647
2,560
1,055
8,032
661
79,939
68,231
523
1,456
5,918
9,587
6,573
3,014
7,729
4,924
7,826
6,571
23,697
11,708
2,555
1,068
8,086
616
82,443
70,509
557
1,519
6,396
9,818
6,733
3,085
8,140
5,001
7,927
6,673
24,480
11,934
2,609
1,101
8,223
638
83,885
71,848
579
1,510
6,391
10,044
6,838
3,206
8,207
5,104
8,126
6,849
25,037
12,037
2,632
1,084
8,321
705
16,437
13,613
225
177
1,486
3,050
2,096
954
1,154
941
1,844
837
3,900
2,825
556
176
2,093
727
16,709
13,856
230
184
1,553
3,064
2,081
983
1,174
960
1,869
860
3,961
2,854
544
178
2,132
746
16,999
14,161
252
180
1,523
3,190
2,199
991
1,208
974
1,884
876
4,074
2,838
536
179
2,123
721
17,095
14,252
248
179
1,516
3,141
2,148
993
1,209
991
1,928
900
4,139
2,842
533
180
2,129
677
17,497
14,554
248
183
1,566
3,208
2,250
958
1,253
990
1,968
924
4,213
2,944
567
188
2,189
703
17,808
14,845
256
189
1,546
3,371
2,354
1,017
1,243
991
2,019
962
4,268
2,963
577
184
2,202
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Now available on a CD-ROM
STATE PERSONAL INCOME FOR 1929-97
The latest State estimates are now available on this CD-ROM from the Regional Economic
Information System of the Bureau of Economic Analysis.
This CD-ROM contains the following detailed annual
estimates for all States:
• Personal income by major source
• Per capita personal income
• Earnings by industry
• Wage and salary disbursements by
industry
• Full- and part-time employment by
industry for 1969-97
• Wage and salary employment by
industry for 1969-97
• Transfer payments by major program
• Farm income and expenses
• Personal tax and nontax payments
This CD-ROM includes
• Gross state product for 1977-96
• State economic profiles
• BEA Regional Fact Sheet (BEARFACTS)
• The sources and methods used to prepare the estimates
This CD-ROM features
• Windows retrieval software you can use to display, print,
or export tables
• Easy-to-use help menus
• The Catalog of Products
• Telephone contacts
To order your copy now for $35 (product number RCN-0208), call the Order Desk at
1-800-704-0415 (outside the United States, call 202-606-9666). Visa and MasterCard
are accepted. To order by mail, send a check payable to the "Bureau of Economic Analysis,
BE-53" to the BEA Order Desk, BE-53, Bureau of Economic Analysis,
Washington, DC 20230.
The Catalog of Products is also available on our Web site at <www.bea.doc.gov>.
Contents
SURVEY OF CURRENT BUSINESS
November 1998
D-l
BEA C U R R E N T AND H I S T O R I C A L DATA
National, International, and Regional Estimates
This section presents an extensive selection of economic statistics prepared by the Bureau of Economic Analysis and a much
briefer selection of collateral statistics prepared by other Government agencies and private organizations. Series originating
in Government agencies are not copyrighted and may be reprinted freely. Series from private sources are provided through
the courtesy of the compilers and are subject to their copyrights.
BEA makes its economic information available on three World Wide Web sites. The BEA Web site <www.bea.doc.gov>
contains data, articles, and news releases from BEA'S national, international, and regional programs. The Federal Statistical
Briefing Room (FSBR) on the White House Web site <www.whitehouse.gov/fsbr> provides summary statistics for GDP and
a handful of other NIPA aggregates. The Commerce Department's STAT-USA Web site <www.stat-usa.gov> provides detailed
databases and news releases from BEA and from other Federal Government agencies by subscription; information about
STAT-USA'S Economic Bulletin Board (EBB) and Internet services may be obtained at the Web site or by calling (202) 482-1986.
The tables listed below present annual, quarterly, and monthly estimates, indicated as follows: [A] Annual estimates only;
[Q] quarterly estimates only; [QA] quarterly and annual estimates; [MA] monthly and annual estimates.
E. Charts:
Selected NIPA series
Other indicators of the domestic economy
National Data
A. Selected NIPA Tables: [QA]
1. National product and income
2. Personal income and outlays
3. Government receipts, current expenditures,
and gross investment
-.-.
4. Foreign transactions
5. Saving and investment
6. Income and employment by industry
7. Quantity and price indexes
8. Supplementary tables
D-2
D-6
D-27
D-2J
Annual estimates: [A]
B.3. GDP by industry
(*)
6.4. Personal consumption expenditures by type of
expenditure
D-29
B.5. Private purchases of structures by type
D-3O
B.6. Private purchases of producers' durable
equipment by type
D-3O
B./. Compensation and wage and salary accruals
by industry
D-31
B.8. Employment by industry
D-32
6.9. Wage and salary accruals and employment
by industry per full-time equivalent
D-33
B.io. Farm sector output, gross product,
and national income
D-34
B.n. Housing sector output, gross product,
and national income
D-34
B.12. Net stock of fixed private capital, by type... D-35
C. Historical tables: [A]
C.i. Historical estimates for major NIPA
aggregates
C.2.-C.7. Growth rates of selected components
of real GDP
D-36
D. Domestic perspectives [MA, QA]
0-41
F.i. U.S. international transactions in goods
and services [MA]
F.2. U.S. international transactions [QA]
F.3. Selected U.S. international transactions,
by area [Q]
F.4. Private service transactions [A]
D-SI
D-52
D-53
D-s6
G. Investment tables:
G.i. International investment position of the United
States [A]
0-57
G.2. USDIA: Selected items [A]
D-58
G.3. Selected financial and operating data for nonbank
foreign afiiliates of U.S. companies [A]
^-59
G.4. FDIUS: Selected items [A]
D-6o
G.5. Selected financial and operating data of nonbank
U.S. affiliates of foreign companies [A]
D-6i
H. International perspectives [MA, QA]
D-62
I. Charts
D-64
Regional Data
J. State and regional tables:
J.i. Total and nonfarm personal income [QA]....D-65
J.2. Percent of personal income for selected
components [A]
D-66
J.3. Per capita personal income and
disposable personal income [A]
D-67
J.4. Gross state product [A]
D-68
K. Local area table
D-6p
L Charts
D-71
Appendixes
D-39
* This table is not included this month because it would duplicate data
shown elsewhere in the issue; see the headnote on page D-28.
International Data
F. Transactions tables:
D-/
D-u
D-13
D-i6
D-i/
D-24
B. Other NIPA and NiPA-related tables:
Monthly estimates: [MA]
B.i. Personal income
B.2. Disposition of personal income
D-49
Appendix A: Additional information about
BEA'S NIPA estimates:
Statistical conventions
Reconciliation tables [QA]
D-73
D-74
Appendix B: Suggested reading
D-J5
SURVEY OF CURRENT BUSINESS
D-2 • National Data
November 1998
National Data
A. Selected NIPA Tables
The tables in this section include the most recent estimates of gross domestic product and its components;
these estimates were released on October 30,1998 and include the "advance" estimates for the third quarter of
1998.
The selected set of NIPA tables shown in this section presents quarterly estimates, which are updated monthly.
In most tables, the annual estimates are also shown. Most of the "annual only" NIPA tables were presented in
the August 1998 SURVEY OF CURRENT BUSINESS; table 8.26 was presented in the September 1998 SURVEY; and
the remaining "annual only" tables—tables 3.15-3.20 and 9.1-9.6—were presented in the October 1998 SURVEY.
The news release on gross domestic product (GDP) is available at the time of release, and the "Selected
NIPA Tables" are available later that day, on STAT-USA'S Economic Bulletin Board and Internet services; for
information, call STAT-USA on 202-482-1986. In addition, the GDP news release is available the afternoon of the
day of the release, and the "Selected NIPA Tables" a day or two later, on BEA'S Web site <www.bea.doc.gov>.
The "Selected NIPA Tables" are also available on printouts or diskettes from BEA. To order NIPA subscription products using Visa or MasterCard, call the BEA Order Desk at 1-800-704-0415 (outside the United States,
202-606-9666).
i. National Product and IncomeTable 1.1.—Gross Domestic Product
Table 1.2.—Real Gross Domestic Product
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1996
1997
Gross domestic product
Personal consumption
expenditures
Durable goods
Nondurable goods
Services
Gross private domestic
investment
Fixed investment
Nonresidential
Structures
Producers' durable
equipment
Residential
Change in business
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
III
IV
I
II
1997
1997
II
III
III
1998
IV
I
II
III
6,994.8 7,269.8
7,236.5 7,311.2 7,364.6 7,464.7 7,498.6 7,559.5
5,215.7 5,493.7 5,438.8 5,540.3 5,593.2 5,676.5 5,773.7 5,843.0
Personal consumption
expenditures
4,752.4 4,913.5
4,872.7 4,947.0 4,981.0 5,055.1 5,130.2 5,179.3
643.3 673.0 659.9 681.2 682.2 705.1 720.1 715.5
1,539.2 1,600.6 1,588.2 1,611.3 1,613.2 1,633.1 1,655.2 1,670.7
3,033.2 3,220.1 3,190.7 3,247.9 3,297.8 3,338.2 3,398.4 3,456.8
Durable goods
Nondurable goods
Services
626.1 668.6
1,450.9 1,486.3
2,676.7 2,761.5
653.8 679.6 684.8 710.3 729.4 729.4
1,477.1 1,495.7 1,494.3 1,521.2 1,540.9 1,549.6
2,743.6 2,775.4 2,804.8 2,829.3 2,866.8 2,905.4
1,131.9 1,256.0 1,259.9 1,265.7 1,292.0 1,366.6 1,345.0 1,361.8
Gross private domestic
investment
1,084.1 1,206.4
1,211.3 1,215.8 1,241.9
1,127.0 1,159.3 1,169.5
848.2 882.2 886.2
199.3 205.2 205.7
7,661.6 8,110.9 8,063.4 8,170.8 8,254.5 8,384.2 8,440.6 8,526.5
1,099.8 1,188.6 1,176.4 1,211.1 1,220.1 1,271.1 1,305.8 1,303.0
941.9 931.1
787.9 860.7 850.5 882.3 882.8 921.3
216.9 240.2 234.3 243.8 246.4 245.0 245.4 241.7
571.0
311.8
620.5
327.9
616.2
325.9
638.5
328.8
636.4
337.4
676.3
349.8
696.6
363.8
689.4
372.0
32.1
67.4
83.5
54.6
71.9
95.5
39.2
58.7
-91.2
-93.4
-56.8
-94.7
-98.8 -123.7 -159.3 -168.7
873.8 965.4 961.1 981.7 988.6 973.3 949.6 935.7
618.3
688.3 682.9 700.2 708.9 694.5 668.8 661.4
255.5 277.1 278.2 281.5 279.7 278.8 280.8 274.3
965.0 1,058.8 1,047.9 1,076.4 1,087.4 1,097.1 1,108.9 1,104.4
809.0 888.3 879.2 902.7 912.4 920.9 931.8 928.5
170.4 168.7 173.6 174.9 176.2 177.1 175.9
156.0
1,405.2 1,454.6 1,451.5 1,459.5 1,468.1 1,464.9 1,481.2 1,490.5
518.4
351.0
167.4
886.8
520.2
346.0
174.3
934.4
522.9
349.1
173.8
928.6
521.0
347.1
173.9
938.5
520.1
346.5
173.6
947.9
511.6
331.6
180.0
953.3
520.7
339.8
180.9
960.4
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
1996
1998
1997
II
518.7
343.5
175.2
971.8
Gross domestic product
Fixed investment
Nonresidential ..
Structures
Producers' durable
equipment
Residential
Change in business
inventories
Net exports of goods and
services
Exports
Goods
Services
Imports
Goods
Services
Government consumption
expenditures and gross
investment
Federal
National defense
Nondefense
State and local
Residual
1,050.6 1,138.0
776.6 859.4
189.7 203.2
1,321.8 1,306.5 1,330.0
1,224.9 1,264.1 1,267.8
931.9 960.4 958.1
203.1 201.9 198.6
589.8
275.9
660.9
282.8
653.8
282.5
682.6
282.3
686.4
287.9
738.8
298.5
771.3
309.1
773.3
314.3
30.0
63.2
79.0
51.0
66.5
91.4
38.2
57.2
-111.2 -136.1
-131.6 -142.4 -149.0 -198.5 -245.2 -262.5
860.0 970.0
629.4 726.5
231.8 247.0
971.2 1,106.1
824.7 945.7
147.3 161.8
963.6 988.1 998.8 991.9 972.1 965.0
719.1 740.6 754.9 748.5 726.3 725.5
247.5 251.1 248.6 247.8 248.8 243.3
1,095.2 1,130.5 1,147.8 1,190.4 1,217.3 1,227.5
937.4 966.7 981.8 1,021.0 1,048.8 1,060.3
159.2 165.2 167.5 171.3 171.0 170.1
1,268.2 1,285.0
1,284.4 1,288.9 1,289.2 1,283.0 1,294.8 1,299.4
460.4 458.9 456.5 446.1 454.1 452.1
311.7 310.2 308.7 293.3 300.3 303.4
148.2 148.2 147.3 151.9 152.9 148.1
824.2 830.1 832.9 837.1 840.9 847.5
465.6
319.1
146.2
802.7
458.0
308.9
148.6
827.1
-1.5
-7.3
-6.7
-5.9
-8.9
-14.2
-5.4
-5.7
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
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.
Percent changes from preceding period for selected items in this table are shown in table 8.1; contributions to
the percent change in real gross domestic product are shown in table 8.2.
Chain-type quantity indexes for the series in this table appear in table 7.1.
D-3
National Data
SURVEY OF CURRENT BUSINESS
November 1998
Table 1.3.—Gross Domestic Product by Major Type of Product
Table 1.4.—Real Gross Domestic Product by Major Type of Product
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1996
1997
1997
II
Gross domestic product
Final sales of domestic
product
Change in business
inventories
Goods
Final sales
Change in business
inventories
Durable goods
Final sales
Change in business
inventories
Nondurable goods
Final sales
Change in business
inventories
Services
Structures
Addenda:
Motor vehicle output
Gross domestic product less
motor vehicle output
III
1996
1998
IV
I
II
7,661.6 8,110.9 8,063.4 8,170.8 8,254.5 8,384.2 8,440.6 8,526.5
7,629.5 8,043.5 7,979.9 8,116.2 8,182.6 8,288.7 8,401.3 8,467.8
32.1
67.4
83.5
54.6
71.9
95.5
39.2
58.7
2,812.4 2,978.5 2,967.0 2,998.9 3,020.5 3,101.3 3,064.5 3,083.1
2,780.3 2,911.1 2,883.6 2,944.3 2,948.7 3,005.8 3,025.3 3,024.3
32.1
67.4
83.5
54.6
71.9
95.5
58.7
39.2
1,249.5 1,343.8 1,342.5 1,357.0 1,368.2 1,426.9 1,385.4 1,391.8
1,228.7 1,310.1 1,293.6 1,337.1 1,334.3 1,376.9 1,380.8 1,365.9
20.8
33.6
48.8
34.0
49.9
4.5
25.9
19.9
1,562.9 1,634.8 1,624.5 1,641.8 1,652.3 1,674.4 1,679.1 1,691.2
1,551.6 1,601.0 1,589.9 1,607.2 1,614.4 1,628.8 1,644.4 1,658.4
11.4
33.8
34.6
34.7
37.9
45.6
34.7
32.8
4,179.5 4,414.1 4,386.9 4,448.0 4,501.2 4,538.4 4,619.5 4,678.9
669.7 718.3 709.4 723.9 732.7 744.6 756.6 764.6
277.1
293.7
280.7
299.7
306.4
300.3
1997
289.7
288.8
7,384.4 7,817.2 7,782.7 7,871.0 7,948.1 8,083.9 8,150.9 8,237.8
1997
II
III
Gross domestic product
Final sales of domestic
product
Change in business
inventories
Residual
Goods
Final sales
Change in business
inventories
Durable goods
Final sales
Change in business
inventories
Nondurable goods
Final sales
. ...
Change in business
inventories
Services
Structures
Residual
Addenda:
Motor vehicle output
Gross domestic product less
motor vehicle output
III
1998
IV
I
II
III
6,994.8 7,269.8 7,236.5 7,311.2 7,364.6 7,464.7 7,498.6 7,559.5
6,961.6 7,203.7 7,155.5 7,256.3 7,294.8 7,372.5 7,456.4 7,499.2
30.0
63.2
79.0
51.0
66.5
91.4
38.2
57.2
3.2
2.0
2.9
.8
3.3
3.9
3.1
4.0
2,708.8 2,867.9 2,852.6 2,890.2 2,917.0 3,000.8 2,969.7 2,991.4
2,675.6 2,799.7 2,768.7 2,834.0 2,844.8 2,904.3 2,927.7 2,929.8
30.0
63.2
79.0
51.0
66.5
91.4
38.2
57.2
1,247.7 1,364.8 1,359.4 1,384.8 1,404.8 1,470.3 1,437.1 1,455.0
1,227.7 1,331.9 1,311.2 1,365.8 1,371.4 1,420.4 1,434.1 1,429.4
32.2
18.7
45.8
31.6
19.5
4.2
47.3
24.7
1,464.2 1,509.6 1,499.7 1,512.7 1,520.4 1,541.6 1,541.6 1,546.4
1,451.5 1,475.1 1,463.9 1,477.1 1,482.4 1,495.2 1,505.4 1,511.3
10.5
31.5
33.2
32.3
34.2
44.1
34.1
32.7
3,701.7 3,798.7 3,784.9 3,816.4 3,841.1 3,854.8 3,907.3 3,942.3
588.5 612.5 607.9 614.6 617.2 625.2 632.1 636.1
-10.4
-13.7
-11.5
-4.6
-13.9
-22.3
-18.6
-17.0
246.3
260.8
249.6
265.1
274.7
268.5
260.7
256.7
6,748.4 7,008.8 6,986.8 7,046.0 7,089.7 7,195.9 7,237.6 7,302.3
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive.
The residual line following change in business inventories is the difference between gross domestic product and
the sum of final sales of domestic product and of change in business inventories; the residual line following structures is the difference between gross domestic product and the sum of the detailed lines of goods, of services,
and of structures.
Percent changes from preceding period for selected items in this table are shown in table 8.1.
Chain-type quantity indexes for the series in this table appear in table 7.17.
Table 1.5.—Relation of Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
Table 1.6.—Relation of Real Gross Domestic Product, Real Gross
Domestic Purchases, and Real Final Sales to Domestic Purchasers
[Billions of dollars]
[Billions of chained (1992) dollars]
Gross domestic product
Less: Exports of goods and
services
Plus: Imports of goods and
services
Equals: Gross domestic
purchases
Less: Change in business
inventories
Equals: Final sales to
domestic purchasers
7,661.6
873.8
965.0
8,110.9 8,063.4 8,170.8 8,254.5 8,384.2 8,440.6 8,526.5
965.4
961.1
981.7
988.6
973.3
949.6
935.7
1,058.8 1,047.9 1,076.4 1,087.4 1,097.1 1,108.9 1,104.4
7,752.8 8,204.3 8,150.2 8,265.5 8,353.3 8,508.0 8,599.9 8,695.2
39.2
58.7
7,720.7 8,136.9 8,066.7 8,210.9 8,281.4 8,412.5 8,560.6
8,636.5
32.1
67.4
83.5
54.6
71.9
95.5
Gross domestic product
Less: Exports of goods and
services
Plus: Imports of goods and
services
Equals: Gross domestic
purchases
Less: Change in business
inventories
6,994.8 7,269.8 7,236.5 7,311.2 7,364.6 7,464.7 7,498.6 7,559.5
860.0
970.0
963.6
988.1
998.8
991.9
971.2 1,106.1 1,095.2 1,130.5 1,147.8 1,190.4 1,217.3 1,227.5
7,101.1
30.0
7,396.5 7,359.4
63.2
79.0
7,443.1 7,502.1 7,644.9 7,718.6 7,794.5
51.0
66.5
91.4
domestic purchasers
Table 1.8.—Real Gross Domestic Product by Sector
[Billions of chained (1992) dollars]
Private households
Nonprofit institutions
General government2
Federal
State and local
7,661.6 8,110.9 8,063.4 8,170.8 8,254.5 8,384.2 8,440.6 8,526.5
6,432.9 6,836.5 6,792.9 6,890.9 6,967.0 7,083.1 7,126.3 7,198.6
6,341.3 6,746.3 6,700.6 6,799.7 6,880.0 6,999.3 7,041.47,116.2
5,679.2 6,047.2 6,004.4 6,096.8 6,170.6 6,285.4 6,315.0 6,377.2
662.1 699.1 696.2 702.9 709.4 713.9 726.4 739.1
91.6
345.0
90.2
92.2
361.4
359.8
91.2
87.0
363.5 366.9
83.8
371.1
84.9
82.3
377.9
383.9
11.9
12.0
12.0
12.0
12.0
11.8
12.0
12.2
333.1
349.4
347.8
351.5
912.9
910.7
916.3
281.3
631.7
282.4
628.3
281.0
635.3
359.2
930.1
282.1
648.0
365.9
936.3
281.2
655.2
371.7
883.6
279.2
604.4
355.0
920.5
278.8
641.7
944.1
281.7
662.4
1. Gross domestic business product equals gross domestic product less gross product of households and institutions and of general government. Gross nonfarm product equals gross domestic business product less gross farm
product.
2. Equals compensation of general government employees plus general government consumption of fixed capital
as shown in table 3.7.
57.2
7,068.0 7,330.2 7,278.3 7,388.0 7,432.1 7,552.2 7,676.4 7,734.1
[Billions of dollars]
Households and institutions ...
38.2
Equals: Final sales to
Table 1.7.—Gross Domestic Product by Sector
Nonfarm1
Nonfarm less housing
Housing
Farm
965.0
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
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.
Percent changes from preceding period for selected items in this table are shown in table 8.1.
Chain-type quantity indexes for the series in this table appear in table 7.2.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Gross domestic product
Business1
972.1
Gross domestic product
Business1
Nonfarm!
Nonfarm less housing
Housing
Farm
Households and institutions ...
Private households
Nonprofit institutions
General government2
Federal
State and local
Residual
6,994.8 7,269.8 7,236.5 7,311.2 7,364.6
5,903.5 6,164.9 6,133.3 6,203.0 6,255.6
5,824.3 6,074.3 6,042.3 6,109.2 6,165.8
5,236.0 5,470.5 5,438.9 5,504.4 5,559.6
588.7 604.5 604.0 605.6 607.3
311.8
90.3
321.5
7,464.7 7,498.6 7,559.5
6,352.3 6,382.6 6,438.8
6,260.4 6,290.5 6,344.8
5,655.9 5,680.5 5,729.1
606.2 611.5 617.2
90.7
93.7
88.8
91.1
91.4
93.4
320.2
323.1
325.1
326.7
329.4
10.5
10.2
10.3
10.2
10.0
301.3
781.2
240.7
540.8
311.3
786.2
235.4
551.3
310.0
785.7
236.3
549.9
313.0
788.1
235.5
553.2
315.1
787.3
232.5
555.5
327.7
9.9
317.9
792.2
231.9
561.1
232.3
564.1
-3.6
-4.4
-4.2
-5.6
-6.1
78.6
-1.8
9.8
316.9
789.6
232.4
557.9
-5.5
10.0
319.5
795.5
1. Gross domestic business product equals gross domestic product less gross product of households and institutions and of general government. Gross nonfarm product equals gross domestic business product less gross farm
product.
2. Equals compensation of general government employees plus general government consumption of fixed capital
as shown in table 3.8.
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
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.
Chain-type quantity indexes for the series in this table appear in table 7.14.
SURVEY OF CURRENT BUSINESS
D-4 • National Data
November 1998
Table 1.9.—Relation of Gross Domestic Product, Gross National Product,
Net National Product, National Income, and Personal Income
Table 1.10.—Relation of Real Gross Domestic Product, Real Gross
National Product, and Real Net National Product
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
1996
II
Gross domestic product
Plus: Receipts of factor income
from the rest of the world
Less: Payments of factor income
to the rest of the world
Equals: Gross national
product .
Less: Consumption of fixed
capital
Private
Capital
consumption
allowances
Less: Capital
consumption
adjustment
Government
General
government
Government
enterprises
Equals: Net national product
Less: Indirect business tax and
nontax liability
Business transfer
payments
Statistical discrepancy ...
Plus: Subsidies less current
surplus of government
enterprises
Equals: National income
7,661.6 8,110.9
III
IV
II
1996
265.5
268.3
274.3
266.3
270.3
270.6
223.1
273.5
269.4
283.0
285.9
285.1
289.3
871.8
720.2
866.5
714.9
877.0
725.2
887.6
734.7
894.5
741.1
902.3
748.5
91 1 5
756.7
719.7
760.5
754.3
765.8
778.2
790.5
803.2
818.8
I
II
III
214.8
238.0
241.0
245.6
237.6
241.0
241.0
200.9
240.7
237.5
248.9
250.5
249.6
252.8
7,008.4 7,266.2 7,239.3 7,307.0 7,350.7 7,455.2 7,485.9
777.2
642.4
135.5
808.8
672.2
137.4
799.2
668.7
137.2
814.0
676.0
137.7
829.3
683.1
138.1
841.1
694.4
138.6
854.4
707.2
139.0
867.8
719.8
139.8
114.8
116.1
116.0
116.3
116.6
116.9
117.2
117.8
20.6
20.7
20.9
21.0
21.1
21.3
151.6
40.6
151.8
43.5
152.9
49.4
153.4
54.7
153.7
J54J8
Equals: Net national product
128.3
128.3
128.3
129.1
129.4
129.6
130.3
24.2
23.7 24.0
23.5
23.3
7,195.8 7,285.1 7,347.3 7,474.9 7,519.6
24.4
Addenda:
Gross domestic income 1
Gross national income2
Net domestic product
7,024.1 7,319.7 7,279.3 7,369.5 7,424.7 7,512.9 7,574.8
7,037.7 7,316.2 7,282.1 7,365.2 7,410.8 7,503.4 7,562.1
6,217.4 6,460.8 6,434.3 6,497.6 6,539.4 6,627.8 6,649.0 6,697.0
647.7
6557
36.0
35.4
35.6
35.6
35.0
-47.7 -65.1 -67.3 -64.1 -55.7
nDft o
^ -°
23.9
22.0
23.4
23.5
21.0
6,604.5 6,704.8 6,767.9 6,875.0 6,945.5
24.5
147.7
125.3
22.4
23.4
6,842.0 7,231.1
22.0
IV
7,236.5 7,311.2 7,364.6 7,464.7 7,498.6 7,559.5
39.4
151.6
40.4
33.8
Less: Consumption of fixed
capital
Private
Government
General
government
Government
enterprises
6,994.8 7,269.8
III
1998
20.1
20.6
6,230.9 6,457.3
35.4
-32.2
Gross domestic product
Equals: Gross national
product
832.0
684.3
606.4
II
Plus: Receipts of factor income
from the rest of the world
Less: Payments of factor income
to the rest of the world
8,062.3 8,162.0 8,234.9 8,369.4 8,421.8
1997
1997
III
8,063.4 8,170.8 8,254.5 8,384.2 8,440.6 8,526.5
627.2
35.1
-55.8
21.9
6,256.0 6,646.5
625.0
632.0
634.5
Less: Corporate profits with
inventory valuation and capital
750.4 817.9
consumption adjustments
815.5 840.9 820.8
418.6
432.0 431.8 433.3 432.4
Net interest
Contributions for social
688.0 727.0 722.1 730.8 740.9
insurance
Wage accruals less
3.7
disbursements
3.7
3.7
3.7
9.3
Plus: Personal interest income ... 719.4 747.3 745.7 750.5 753.0
Personal dividend
248.2 260.3 259.9 260.4 261.3
income
Government transfer
payments to persons 1,041.5 1,083.3 1,079.7 1,086.7 1,093.1
Business transfer
26.4
27.2
27.1
27.5
payments to persons
27.3
6,425.2 6,784.0 6,743.6 6,820.9 6,904.9
Equals: Personal income
Addenda:
Gross domestic income
Gross national income
Net domestic product
I
235.5
7,674.0 8,102.9
Seasonally adjusted at annual rates
1998
1997
1997
7,693.8 8^1 66.7
7,706.2 8,158.7
6,829.6 7,239.1
641.9
CO -1
6,437.3 6,493.3 6,525.1 6,617.8 6,635.8
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.
NOTE.—Except as noted in footnotes 1 and 2, chained (1992) dollar series are calculated as the product of
the chain-type quantity index and the 1992 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 chaineddollar estimates are usually not additive.
Chain-type quantity indexes for the series in this table appear in table 7.3.
Table 1.11.—Command-Basis Real Gross National Product
[Billions of chained (1992) dollars]
Gross national product
829.2
440.5
820.6
447.1
755.0
762.9
771.4
4.0
757.0
4.0
763.0
4.0
767.6
261.6
262.1
peo n
1,111.2 1,117.7 1.123.9
28.1
27.8
283
7,003.9 7,081.9 7 155 6
' '
8,111.1 8,235.9 8,321.8 8,438.4 8,526.3
8,110.0 8,227.1 8,302.2 8,423.6 8,507.6 7 iiii; V
7,196.9 7,293.8 7,366.9 7,489.8 7,538.3 /.Dlo.l
7,008.4 7,266.2 7,239.3 7,307.0 7,350.7 7,455.2 7,485.9
Less* Exports of poods and
services and receipts of factor
income from the rest of the
,075.2 1,208.2 1,205.2 1,234.2 1,235.8 1,232.8 1,213.7
world
Plus: Command-basis exports of
goods and services and
1,095.2 1,246.7 1,246.0 1,277.2 1,280.2 1,296.5 1,283.4
receipts of factor income *
Equals: Command-basis gross
national product
7,028.3 7,304.7 7,280.1 7,350.1 7,395.1 7,518.9 7,555.6
Addendum:
2
Terms of trade
101.9 103.2 103.4 103.5 103.6 105.2 105.7
1
- Exports of goods and services anc receipts of factor income deflated by the implicit price deflator for imports
of goods and services and payments ofactor income,
2. Ratio of the implicit price deflator for exports of goods and services and receipts of factor income to the
corresponding implicit price deflator for irnports with the decimal point shifted two places to the right,
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
current-dollar value of the corresponds g 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,
percent cnanges irom preceding period for selected items in this table are shown in table 8.1.
Chain-type quantity indexes for the series in this table appear in table 7.3.
SURVEY OF CURRENT BUSINESS
November 1998
D-5
National Data
Table 1.16.—Gross Domestic Product of Corporate Business in Current
Dollars and Gross Domestic Product of Nonfinancial Corporate Business in Current and Chained Dollars
Table 1.14.—National Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
1996
1997
1997
II
National income
Compensation of employees ...
Wage and salary accruals
Government ....
Other
Supplements to wages and
salaries
Employer contributions for
social insurance
Other labor income
Proprietors' income with
inventory valuation and
capital consumption
adjustments
Farm
Proprietors' income with
inventory valuation
adjustment
Capital consumption
adjustment .
Nonfarm
Proprietors' income
Inventory valuation
adjustment
Capital consumption
adjustment
Rental income of persons with
capital consumption
adjustment
Rental income of persons
Capital consumption
adjustment
Corporate profits with
inventory valuation and
capital consumption
adjustments
Corporate profits with
inventory valuation
adjustment
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits ...
Inventory valuation
adjustment
Capital consumption
adjustment
Net interest
Addenda:
Corporate profits after tax with
inventory valuation and
capital consumption
adjustments
Net cash flow with inventory
valuation and capital
consumption adjustments ...
Undistributed profits with
inventory valuation and
capital consumption
adjustments
Consumption of fixed
capital
Less: Inventory valuation
adjustment
Eauals: Net cash flow
I
IV
III
Seasonally adjusted at annual rates
1998
II
1996
III
1997
II
6,256.0 6,646.5 6,604.5 6,704.8 6,767.9 6,875.0 6,945.5
4,409.0 4,687.2 4,649.2 4,715.5 4,798.0 4,882.8 4,945.2 5,009.7
3,640.4 3,893.6 3,859.2 3,919.3 3,993.6 4,065.9 4,121.6 4,179.4
640.9 664.2 661.6 666.7 671.4 679.5 685.8 692.4
2,999.5 3,229.4 3,197.6 3,252.6 3,322.2 3,386.4 3,435.8 3,487.0
768.6
793.7
790.0
796.2
804.4
816.8
823.5
830.3
381.7
387.0
400.7
392.9
398.4
391.5
402.7
393.6
407.4
397.0
414.1
402.8
417.9
405.7
422.0
408.3
527.7
551.2
549.9
556.5
558.0
564.2
571.7
574.9
38.9
35.5
37.8
36.3
31.4
27.4
27.7
24.2
46.7
43.0
45.4
43.8
38.8
34.7
35.0
31.3
-7.8
-75
515^8
485.3
-7.6
-7.5
-7.4
-7.3
-7.2
-7.1
488.8
461.6
512.1
481.5
520.2
489.8
526.6
495.5
536.8
502.9
544.0
511.6
550.7
516.4
-.6
.6
1.0
.4
c
2.4
-.1
.8
27.8
29.9
29.6
30.0
30.6
31.5
32.4
33.4
150.2
198.4
158.2
208.6
158.0
208.0
158.6
209.4
158.8
210.2
158.3
209.5
161.0
212.2
163.6
215.2
-48.1
-50.4
-50.0
-50.8
-51.4
-51.2
-51.3
-51.6
750.4
817.9
815.5
840.9
820.8
829.2
820.6
679.0
680.2
226.1
454.1
261.9
192.3
741.2
734.4
246.1
488.3
275.1
213.2
740.1
729.8
241.9
487.8
274.7
213.2
763.7
758.9
254.2
504.7
275.1
229.5
740.7
736.4
249.3
487.1
276.4
210.6
744.3
719.1
239.9
479.2
277.3
201.8
731.3
723.5
241.6
481.8
278.1
203.7
4.8
4.3
-1.2
6.9
10.3
25.3
76.6
75.5
77.2
80.1
84.9
89.4
418.6
432.0
431.8
433.3
432.4
440.5
447.1
524.3
571.8
573.6
586.7
571.4
589.3
579.0
714.4
774.1
772.6
792.3
782.6
804.5
798.7
262.4
296.7
299.0
311.5
295.0
312.0
300.9
452.0
477.3
473.7
480.8
487.7
492.5
497.8
-1.2
6.9
767.2
10.3
4.8
787.5
4.3
778.4
25.3
7.8
790.9
715.7
762.3
779.2
"27ao
7.8
71.4
1997
96.8
503.1
III
1998
IV
I
II
III
Billions of dollars
Gross domestic product
of corporate business
Consumption of fixed capital
Net domestic product . ..
Indirect business tax and
nontax liability plus
business transfer payments
less subsidies
Domestic income
Compensation of
employees
Wage and salary
, accruals
Supplements to wages
and salaries
Corporate profits with
inventory valuation and
capital consumption
adjustments
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation
adjustment
Capital consumption
adjustment
Net interest
Gross domestic product
of financial corporate
business
Gross domestic product
of nonfinancial
corporate business
Consumption of fixed capital
Net domestic product
Indirect business tax and
nontax liability plus
business transfer payments
less subsidies
Domestic income
Compensation of
employees
Wage and salary
accruals
Supplements to wages
and salaries
Corporate profits with
inventory valuation and
capital consumption
adjustments
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation
adjustment
Capital consumption
adjustment
Net interest
4,607.8 4,960.9 4,911.3 5,015.5 5,090.8 5,160.6 5,210.0
452.0
477.3
473.7
480.8
487.7
492.5
497.8
503.1
4,155.8 4,483.5 4,437.6 4,534.7 4,603.2 4,668.0 4,712.2
477.8 474.5 484.7 489.1 495.0 499.2
4501
3,705.7 4,005.7 3,963.1 4,049.9 4,114.0 4,173.0 4,213.0
506.2
2,926.5 3,139.8 3,109.1 3,160.8 3,228.8 3,283.2 3,327.8 3,373.9
2,449.1 2,644.4 2,615.0 2,664.1 2,728.3 2,773.3 2,813.7 2,855.5
477.4
495.5
494.1
496.7
500.5
509.9
514.1
654.0
583.8
226.1
357.7
224.8
132.9
718.9
635.4
246.1
389.3
234.7
154.5
710.2
624.4
241.9
382.4
230.0
152.4
738.6
656.6
254.2
402.3
229.7
172.7
728.8
644.5
249.3
395.1
244.0
151.2
730.6
620.5
239.9
380.6
240.6
140.0
723.3
626.2
241.6
384.5
259.9
124.6
4.8
4.3
-1.2
6.9
10.3
25.3
7.8
71.4
76.6
75.5
77.2
84.9
89.4
125.2
147.1
143.9
150.5
156.4
159.2
161.9
473.4
546.4
535.6
553.6
577.7
586.4
591.2
80.1
518.3
96.8
4,134.4 4,414.5 4,375.7 4,461.9 4,513.2 4,574.2 4,618.8
393.4
415.4
412.2
418.4
424.4
428.5
433.1
437.4
3,741.0 3,999.1 3,963.5 4,043.4 4,088.8 4,145.7 4,185.7
445.0 450.5 454.2
436.8 434.5 442.1
411.6
3,329.4 3,562.3 3,529.0 3,601.4 3,643.8 3,695.2 3,731.4
460.7
2,679.7 2,871.2 2,843.4 2,889.8 2,952.6 3,002.3 3,043.1 3,085.2
22407 24166 2 389.7 2,434.3 2,494.2 2,534.5 2,571.4 2,609.6
439.0
454.6
453.7
455.5
458.4
467.8
471.7
548.5
473.1
151.5
321.5
217.1
104.4
594.2
505.4
169.8
335.6
229.3
106.3
586.7
495.6
166.4
329.2
224.6
104.6
615.2
528.0
178.1
349.9
226.1
123.8
599.3
509.8
170.1
339.6
239.6
100.1
599.3
484.2
159.7
324.5
237.3
593.2
491.8
162.1
329.6
254.3
87.2
75.3
-1.2
76.7
101.2
6.9
81.9
96.9
10.3
80.7
99.0
4.8
82.5
96.3
4.3
85.3
91.9
25.3
89.8
93.6
475.6
7.8
93.7
100.5
952
Billions of chained (1992) dollars
Gross domestic product
of nonfinancial
corporate business ' ...
3,914.8 4,154.4 4,117.0 4,198.5 4,247.5 4,309.2 4,352.0
Consumption of fixed 3capital 2 ....
Net domestic product
374.3 394.6 392.2 397.2 402.1 409.3 417.7
3,540.5 3,759.8 3,724.9 3,801.3 3,845.5 3,899.9 3,934.3
426.6
1. Chained-dollar gross domestic product of nonfinancial corporate business equals the current-dollar product deflated by the implicit price deflator for goods and structures in gross domestic product.
2. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product
of the chain-type quantity index and the 1992 current-dollar value of the corresponding series, divided by 100.
3. Chained-dollar net domestic product of nonfinancial corporate business is the difference between the gross
product and the consumption of fixed capital.
SURVEY OF CURRENT BUSINESS
JD-6 • National Data
November
2. Personal Income and Outlays.
Table 2.2.—Personal Consumption Expenditures by Major Type of
Product
Table 2.1.—Personal Income and Its Disposition
[Billions of dollars]
Seasonally adjusted at annual rate s
1996
1997
1997
II
Personal income
Wage and salary
disbursements
Private industries
Goods-producing
industries
Manufacturing
Distributive industries
Service industries
Government
Other labor income
Proprietors' income with
inventory valuation and
capital consumption
adjustments
Farm
Nonfarm
III
Seasonally adjusted at annual rates
1998
IV
I
II
1996
III
41754
3,482.9
Personal consumption
expenditures
Durable goods
909.0 975.0 965.4 979.4 1,003.7 1,019.0 1,023.2
712.0 722.3 741.3
750.4 750.8
674.6 719.5
932.2
823.3 879.8 870.2 886.3 904.5 918.9
1,257.9 1,370.8 1,358.3 1,383.2 1,410.2 1,444.5 1,476.4
666.7 671.4
640.9 664.2 661.6
679.5 685.8
1,026.8
750.3
946 0
15101
Motor vehicles and parts
Furniture and household
equipment
Other
. ...
405.7
408 3
3,631.1 3,889.8 3,855.5 3,915.5 3,989.9 4,061.9 4,117.6
2,990.2 3,225.7 3,193.9 3,248.9 3,318.4 3,382.4 3,431.8
387.0
392.9
391.5
393.6
397.0
402.8
692.4
'
571.7
574.9
38.9
35.5
37.8
36.3
31.4
27.4
27.7
488.8
515.8
512.1
520.2
526.6
536.8
544.0
24-2
550.7
527.7
551.2
549.9
556.5
558.0
564.2
150.2
158.2
158.0
158.6
158.8
158.3
161.0
Personal dividend income ...
248.2
260.3
259.9
260.4
261.3
261.6
262.1
2630
Personal interest income
719.4
747.3
745.7
750.5
753.0
757.0
763.0
767.6
1,068.0 1,110.4 1,106.8 1,114.0 1,120.5 1,139.0 1,145.8
1,152.2
Less: Personal
contributions for social
insurance
Less: Personal tax and nontax
payments
Equals: Disposable personal
income
Less: Personal outlays
Personal consumption
expenditures
Interest paid by persons
Personal transfer payments to
the rest of the world (net)
Equals: Personal saving
Addenda:
Disposable personal income:
Total, billions of chained
(1992) dollars2
Per capita:
Current dollars
Chained (1992) dollars
Population (mid-period,
millions)
Personal saving as a
percentage of disposable
personal income
538.0
565.9
563.9
568.3
572.2
581.6
585.0
21.9
21.6
19.9
22.4
19.9
22.4
19.6
22.6
19.3
22.3
19.6
23.3
19.5
23.2
141.3
345.0
151.4
350.8
150.7
349.9
152.2
351.3
153.8
352.9
156.8
357.6
158.4
359.6
21.6
19.7
19.9
19.5
19.1
18.7
18.0
323.5
331.1
330.0
331.8
333.8
338.9
341.6
306.3
890.5
326.2
989.0
323.7
975.8
328.2
333.6
340.9
345.1
163g
349.4
58430
169.8 '172*9
5,215.7 5,493.7 5,438.8 5,540.3 5,593.2 5,676.5 5,773.7
16.9
18.9
18.2
19.5
19.8
19.2
19.9
20.5
158.5
121.0
151.9
98.5
98.2
73.0
25.6
5-9
Nnnriiirahlo nnnrfc
Food
Plnthinn anH chnpQ
Gasoline and oil
Fuel oil and coal
Other
.
Services
Housing
Household operation
Electricity and gas
Other household operation
Transportation
Medical care
Other
Residual
5,043.0 5,183.1 5,167.5 5,198.4 5,235.8 5,287.1 5,321.5 5,356.0
20,840 21,633 21,558 21,709 21,871 22,046 22,192 22,336
18,989 19,349 19,315 19,385 19,478 19,632 19,719 19,799
265.6
267.9
267.5
268.2
268.8
269.3
269.9
270.5
2.9
2.1
2.6
1.7
1.7
1.2
.4
.1
1. Consists of aid to families with dependent children and, beginning with 1996, assistance programs operating
under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996.
2. Equals disposable personal income deflated by the implicit price deflator for personal consumption expenditures.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
II
III
5,215.7 5,493.7 5,438.8 5,540.3 5,593.2 5,676.5 5,773.7 5,843.0
643.3
673.0
659.9
681.2
682.2
705.1
720.1
715.5
264.8
269.5
260.7
274.5
271.6
277.0
288.8
278.6
256.0
271.4
132.1
269.2
273.8
276.0
288.5
288.9
293.7
130.0
132.8
134.6
139.6
142.3
143.1
122.5
1,539.2 1,600.6 1,588.2 1,611.3 1,613.2 1,633.1 1,655.2 1,670.7
755.0
265.7
124.5
780.9
278.0
126.5
775.8
275.6
123.7
785.3
280.9
125.7
787.1
280.7
125.9
12.2
11.2
11.5
11.2
10.7
381.8
403.9
401.5
408.1
408.8
796.9
291.0
116.2
9.5
419.4
810.2
295.3
111.6
9.8
428.3
817.6
295.7
112.1
9.8
435.4
3,033.2 3,220.1 3,190.7 3,247.9 3,297.8 3,338.2 3,398.4 3,456.8
787.4
314.5
125.5
189.0
222.3
806.8
902.3
829.8
327.3
824.0
323.6
835.4
330.4
847.0
337.0
859.1
871.9
327.6
339.2
883.8
345.3
126.2
201.1
240.3
843.4
979.3
125.4
198.1
238.4
837.7
967.1
127.0
129.2
116.8
124.1
127.5
203.4
242.2
848.7
207.8 210.9
215.1 217.8
246.3 249.5 253.2 252.7
857.9 871.5
884.2 893.1
991.3 1,009.5 1,030.5 1,049.8 1,081.9
Pr dUCt
°
[Billions of chained (1992) dollars]
Motor vehicles and parts
Furniture and household
equipment
Other
6,036.4
168.3
IV
Table 2.3.—Real Personal Consumption Expenditures by Major Type of
olo'l
343 6
-
999.0 1,025.5 1,066.8 1,092.9 1,113.2
168.2
Housing
Household operation
Electricity and gas
Other household operation
Transportation
Medical care
other
Personal consumption
expenditures
expencmures
Durable goods
i -no o
163.5
services
160.0
360 7
6,042.4
159.0
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
III
1998
I
195
23 4
5,376.2 5,674.1 5,616.0 5,723.3 5,781.2 5,864.0 5,963.3
161.5
MnnHuraMn /in/irio
588.7
5,534.7 5,795.1 5,767.9 5,821.8 5,879.4 5,937.1 5,988.9
143.6
1997
II
6,425.2 6,784.0 6,743.6 6,820.9 6,904.9 7,003.9 7,081.9 7,155.6
Rental income of persons
with capital consumption
adjustment
Transfer payments to
persons
Old-age, survivors,
disability, and health
insurance benefits
Government unemployment
insurance benefits
Veterans benefits
Government employees
retirement benefits
Other transfer payments ....
Family assistance 1
Other
1997
4,752.4 4,913.5 4,872.7 4,947.0 4,981.0 5,055.1 5,130.2 5,179.3
626.1
668.6
653.8
679.6
684.8
710.3
729.4
729.4
235.0
239.3
230.8
244.4
242.7
247.8
258.9
248.3
277.5
307.7
303.7
339.3
127.7
125.9
318.1
130.8
335.8
117.1
312.7
128.5
135.1
138.6
351.5
140.1
1,450.9 1,486.3 1,477.1 1,495.7 1,494.3 1,521.2 1,540.9 1,549.6
692.6
276.1
116.0
699.3
288.4
697.3
283.3
117.9
118.3
700.6
291.9
118.4
699.9
292.3
706.8
307.4
118.1
118.5
9.2
383.5
11.2
10.3
10.4
10.7
10.1
356.7
373.0
369.9
377.0
376.8
716.3
311.4
118.4
9.7
389.2
717.9
312.0
121.5
10.0
392.7
2,676.7 2,761.5 2,743.6 2,775.4 2,804.8 2,829.3 2,866.8 2,905.4
291.4
118.0
173.3
200.5
686.6
798.6
717.4
301.3
116.0
185.1
212.2
701.7
830.5
715.1
297.8
116.0
181.6
210.7
698.6
823.0
719.5
305.0
117.2
187.7
213.7
704.2
834.8
311.1
118.4
192.5
215.9
709.4
846.6
110.5
195.6
217.9
714.9
862.9
316.5
117.4
198.9
221.4
721.6
876.7
121.6
201.8
221.5
725.4
900.3
-7.7
-13.0
-11.9
-14.3
-14.5
-19.5
-20.3
-22.3
700.9
723.9
728.7
306.3
732.7
737.0
323.5
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
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. Chain-type quantity
indexes for the series in this table appear in table 7.4.
National Data
SURVEY OF CURRENT BUSINESS
November 1998
3. Government Receipts, Current Expenditures, and Gross Investment.
Table 3.1.—Government Receipts and Current Expenditures
[Billions of dollars]
Seasonally adjusted at annual rates
1996
1997
1997
III
II
1998
IV
II
I
III
2,411.0 2,589.2 2,564.9 2,616.0 2,650.3 2,703.6 2,745.2
Receipts
999.0 1,025.5 1,066.8 1,092.9 1,113.2
254.2 249.3 239.9 241.6
632.0 634.5 641.9 647.7 655.7
730.8 740.9 755.0 762.9 771.4
2,398.7 2,476.1 2,469.6 2,479.8 2,506.7 2,504.6 2,529.5 2,534.8
1,175.5 1,219.2 1,218.8 1,222.3 1,231.6 1,227.5 1,248.7 1,251.6
1,057.7 1,096.0 1,089.6 1,096.6 1,114.6 1,121.1 1,126.7 1,132.7
1,041.5 1,083.3 1,079.7 1,086.7 1,093.1 1,111.2 1,117.7 1,123.9
9.9
9.9 21.5
9.9
12.7
9.0
8.8
16.2
Personal tax and nontax r8C8ipts
Corporate profits tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance
Current expenditures
Consumption expenditures
Transfer payments (net)
To persons
To the rest of the world (net)
.
Net interest paid
Interest paid
To persons and business
To1 the rest of the world .
Less Interest received by government
..
975.8
241.9
625.0
722.1
890.5
226.1
606.4
688.0
989.0
246.1
627.2
727.0
157.1
315.7
2483
153.8 154.9
316.9 317.7
2294 230.1
153.7
317.7
226.9
152.3
317.2
226.5
148.2
314.3
224.4
146.2
314.5
2234
141.9
312.0
67.4
87.5
87.6
90.8
90.7
89.9
91.0
158.6
163.1
162.8
164.0
164.9
166.1
168.3
Less; Dividends received by government
13.7
14.8
14.7
14.8
15.2
15.7
16.0
16.0
Subsidies less current surplus of government enterprises
Subsidies
Less* Current surplus of government enterprises
22.0
34.0
12.0
21.9
33.4
11.5
21.0
33.6
12.6
22.0
33.3
11.3
23.4
32.7
23.5
31.8
23.9
31.4
24.5
31.0
9.3
8.4
7.5
6.5
0
0
0
0
0
0
0
0
12.3
113.1
95.3
Less: Wage accruals less disbursements
Current surplus or deficit (-), national income and product accounts
Social insurance funds
Other
.
125.0 138.5 135.2
-112.7 -?54 -399
136.2
143.6
199.0
215.7
140.8
-46
148.5
-49
152.0
158.3
47.0
57.4
170.1
164.3
D-7
SURVEY OF CURRENT BUSINESS
D-8 • National Data
November
Table 3.3.—State and Local Government Receipts and Current
Expenditures
Table 3.2.—Federal Government Receipts and Current Expenditures
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
1996
II
Receipts
Personal tax and nontax receipts
Income taxes
Estate and gift taxes
Nontaxes
Corporate profits tax accruals ....
Federal Reserve banks
Other
Indirect business tax and nontax
accruals
Excise taxes
Customs duties
Nontaxes ....
Contributions for social insurance
Current expenditures
Consumption expenditures
Transfer payments (net)
To persons
To the rest of the world (net)
Grants-in-aid to State and local
governments
Net interest paid
Interest paid
To persons and business
To the rest of the world
Less: Interest received by
government
Subsidies less current surplus of
government enterprises
Subsidies
Less: Current surplus of
government enterprises
Less: Wage accruals less
disbursements
Current surplus or deficit
(-), national income
and product accounts
Social insurance funds
Other
IV
III
Seasonally adjusted at annual rates
1998
1997
1997
I
1996
III
II
II
1,584.7 1,719.9 1,703.6 1,739.6 1,765.5 1,809.1 1,838.3
687.0
666.9
769.1
745.8
759.1
735.8
776.9
753.7
798.6
774.2
836.5
810.0
855.7
826.3
868.9
842.1
17.5
20.6
20.6
20.5
21.6
23.5
26.2
23.3
2.6
2.7
2.6
2.7
2.8
3.0
3.2
193.0
210.0
206.5
217.0
212.8
204.8
206.2
20.1
20.6
20.2
20.8
21.2
21.6
21.5
172.9
189.5
186.3
196.2
191.6
183.2
184.7
94.5
55.9
19.2
19.4
93.8
59.5
19.6
14.6
95.5
60.5
20.4
14.6
95.1
59.7
20.5
14.9
93.8
60.8
18.9
14.2
93.9
60.7
19.1
14.1
95.2
61.9
19.3
13.9
610.2
647.0
642.4
650.6
660.3
673.9
681.2
3.5
97.3
63.2
20.4
13.7
689.0
1,695.0 1,741.0 1,738.4 1,739.9 1,763.4 1,750.3 1,763.9 1,760.2
450.9
460.4
764.2
748.0
791.9
779.2
16.2
12.7
464.8
787.1
777.3
9.9
460.0
791.2
781.2
9.9
460.1
805.9
784.4
21.5
450.9
808.5
798.6
9.9
464.0
811.1
802.1
9.0
458.5
814.5
805.6
8.8
218.9
225.0
223.2
224.4
231.8
228.7
226.9
227.6
228.4
252.4
185.0
231.2
253.6
166.1
231.6
254.5
166.9
231.9
254.4
163.6
231.8
253.8
163.1
228.8
250.7
160.7
228.3
250.6
159.6
225.6
248.0
67.4
87.5
87.6
90.8
90.7
89.9
91.0
24.0
22.4
22.8
22.5
22.0
21.8
22.3
22.4
32.7
33.7
32.5
33.0
31.6
33.3
32.5
32.9
33.7
32.4
33.4
31.5
33.5
31.0
33.9
30.6
-1.4
-1.9
-2.5
-3.4
0
0
0
1.0
0
-110,3
54.6
-164.9
.5
0
-21.1
70.3
1.7
0
-34.8
66.7
-91.4 -101.5
.4
0
-.3
2.2
58.8
0
74.4
72.9
80.9
84.5
90.6
-73.3
-78.7
-25.7
-16.2
1997
1997
96.7
Receipts ...
Personal tax and nontax receipts
Income taxes
Nontaxes
Other
Corporate profits tax accruals ....
Indirect business tax and nontax
accruals
Sales taxes
Property taxes
Other
Contributions for social insurance
Federal grants-in-aid
Current expenditures
Consumption expenditures
Transfer payments to persons ...
Net interest paid
Interest paid ..
Less: Interest received by
government
Less: Dividends received by
government
Subsidies less current surplus of
government enterprises
Subsidies
Less: Current surplus of
government enterprises
Less: Wage accruals less
disbursements
Current surplus or deficit
(-), national income
and product accounts
Social insurance funds
Other
III
1998
IV
II
I
III
1,045.2 1,094.3 1,084.5 1,100.8 1,116.5 1,123.3 1,133.8
203.5
151.9
219.9
164.3
216.7
161.6
222.1
166.1
226.9
169.9
230.4
172.3
237.2
178.3
244.3
184.4
29.5
22.1
32.0
23.6
31.7
23.4
32.3
23.8
32.9
24.1
33.6
24.5
34.2
24.7
34.9
25.0
33.1
36.0
35.4
37.3
36.5
35.1
35.4
511.9
252.0
202.7
533.4
261.5
209.1
529.5
259.1
208.3
536.9
261.9
209.9
540.7
265.7
211.5
548.0
268.4
213.9
552.5
270.4
216.3
558.4
271.4
218.3
57.2
62.8
62.1
65.1
63.5
65.7
65.9
68.7
77.8
79.9
79.7
80.2
80.6
81.1
81.7
82.4
218.9
225.0
223.2
224.4
231.8
228.7
226.9
227.6
922.6
960.1
954.4
964.3
975.1
983.0
992.5 1,002.2
724.7
758.8
754.0
762.2
771.5
776.7
784.7
793.1
293.5
304.1
302.5
305.5
308.6
312.6
315.6
318.2
-71.3
-77.4
-76.7
-78.2
-79.5
-80.7
-82.2
-83.7
63.3
63.3
63.2
63.3
63.4
63.6
63.8
64.0
134.5
140.6
140.0
141.5
142.9
144.3
146.0
147.7
13.7
14.8
14.7
14.8
15.2
15.7
16.0
16.0
-10.7
.4
-10.6
.4
-10.6
.4
-10.5
.4
-10.3
.4
-9.9
-9.6
-9.4
11.0
10.9
11.0
10.9
10.7
10.3
10.0
9.8
0
0
0
0
0
0
0
0
.4
.4
122.6
134.1
130.1
136.6
141.4
140.2
141.3
70.4
52.2
68.1
66.0
68.5
61.6
67.9
68.7
67.6
73.8
67.5
72.7
67.7
73.6
.4
67.6
D-9
National Data
SURVEY OF CURRENT BUSINESS
November
Table 3J.—Government Consumption Expenditures and Gross
Investment by Type
Table 3.8.—Real Government Consumption Expenditures and Real Gross
Investment by Type
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1996
1997
1998
1997
II
III
IV
I
II
1996
National defense
Consumption expenditures
Durable goods2
Nondurable goods
Services
Compensation of
general government
employees, except
force-account3
construction
Consumption of
general government
fixed capital4
Other services
Gross investment
Structures
Equipment
Nondefense .
Consumption expenditures
Durable goods2
Nondurable goods
Commodity Credit
Corporation
inventory change ...
Other nondurables
Services
Compensation of
general government
employees, except
force-account3
construction ....
Consumption of
general government
fixed capital4
Other services
Gross investment
Structures
Equipment
State and local
Consumption expenditures
Durable goods2
Nondurable goods
Services
Compensation of general
government
employees, except
force-account
construction3
Consumption of general
government fixed
capital4
Other services
Gross investment
Structures
Equipment
Addenda:
Compensation of general
government employees 3 ....
Federal
State and local
518.4 520.2
351.0 346.0
304.1 306.3
21.1
20.7
7.4
7.6
2753 2782
133.8
133.3
522.9
349.1
310.4
21.7
7.2
2814
521.0
347.1
306.0
19.6
7.4
2791
511.6
520.7 518.7
346.5 331.6
304.8 293.3
20.4
20.8
6.5
7.2
2767 266.4
339.8 343.5
303.0 303.0
20.8
22.4
6.4
6.9
275.8 273.7
133.5
133.1
131.9
520.1
133.4
132.2
132.3
56.7
54.8
54.4
56.8
56.3
56.0
55.7
55.3
77.7 88.9
87.0
84.7
88.6
91.2
90.0
89.1
39.7 38.7 41.1 41.7
38.3
36.8
40.5
46.9
5.7
5.4
4.9
54
6.7
5.6
5.7
5.7
40.2
33.2
35.4
31.9
350
34.0
36.1
32.9
167.4 174.3 173.8 173.9 173.6 180.0 180.9 175.2
146.8 154.2 154.4 154.0 155.3 157.6 160.9 155.5
9
c
1.2
1.3 -4.8
1.0
1.0
1.3
74
7.6
5.8
6.7
7.3
8.2
6.8
67
-.4
6.2
140.0
77.5
r
-.1
—.£
6.9
6.8
146.3 146.5
80.2
80.7
6.9
146.4
.1
7.3
147.0
0
7.3
149.1
/
.£.
7.4
152.0
.8
7.3
152.1
80.3
79.5
81.5
82.3
82.7
—.e.
11.5
11.9
12.2
11.1
11.7 11.8
11.5
11.5
57.9
51.5
54.7
54.4
54.6
55.8 55.8
57.3
22.4
20.6
20.1
19.3
19.8
20.0
19.7
18.3
10.4
11.1
10.9 10.0 10.0
10.8
8.7 10.6
9.4
9.8 10.0
9.1
9.6 11.8
9.6
86
886.8 934.4 928.6 938.5 947.9 953.3 960.4 971.8
724.7 758.8 754.0 762.2 771.5 776.7 784.7 793.1
16.7
15.6
16.2
16.1
16.4
16.6
16.9
16.3
77.7 79.7 79.1
78.0
78.4
79.2
80.1
78.4
631.4 662.9 658.8 666.8 675.0 682.1 689.6 697 8
542.9
566.7
563.7 570.1
575.4
581.1
587.8
594.2
57.4
31.1
162.1
130.9
31.2
60.5
35.7
175.6
142.4
33.2
60.1
35.0
174.6
141.6
32.9
61.8
37.8
176.4
142.6
33.9
62.4
38.6
176.6
142.0
34.6
62.9
38.9
175.7
140.6
35.2
63.7
39.9
178.7
1429
35.8
60.8
36.0
176.3
142.8
33.4
782.5
214.3
568.2
788.0
213.4
574.6
791.4
211.5
579.9
800.6 806.8
215.0 214.6
585.6 592.2
81 3Q
A-JC'-J
598 7
1. Gross government investment consists of general qovernment and Government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
2. Consumption expenditures for durable goods excludes expenditures classified as investment, except for goods
transferred to foreign countries by the Federal Government.
3. Compensation of government employees engaged in new force-account construction and related expenditures
for goods and services are classified as investment in structures. The compensation of all general government employees is shown in the addenda.
4. Consumption of fixed capital, or depreciation, is included in government consumption expenditures as a partial
measure of the value of the services of general government fixed assets; use of depreciation assumes a zero
net return on these assets.
1998
I
IV
III
II
III
Government consumption
expenditures and
gross investment 1
1,268.2 1,285.0 1,284.4 1,288.9 1,289.2 1,283.0 1,294.8 1,299.4
Federal
National defense
Consumption expenditures
Durable goods2
Nondurable goods
Services
Compensation of
general government
employees, except
force-account3
construction
Consumption of
general government
fixed
capital4 .
Other services
Gross investment
Structures
Equipment ...
Nondefense
Consumption expenditures
Durable goods 2
Nondurable goods
Commodity Credit
Corporation
inventory change ...
Other nondurables
Services
Compensation of
general government
employees, except
force-account3
construction
Consumption of
general government
fixed capital4
Other services
Gross investment
Structures
Equipment
State and local
Consumption expenditures
Durable goods 2
Nondurable goods
Services
Compensation of general
government
employees, except
force-account
construction3
Consumption of general
government fixed
capital4
Other services ..
Gross investment
Structures
Equipment
Residual
758.3 784.7
211.3 213.5
547.0 571.2
1997
II
III
Government consumption
expenditures and
gross investment *
1,405.2 1,454.6 1,451.5 1,459.5 1,468.1 1,464.9 1,481.2 1,490.5
Federal . . . .
1997
Addenda:
Compensation of general
government employees 3 ....
458.0
319.1 308.9
276.6 272.4
20.4
20.8
7.0
7.0
248.6 244.9
460.4
311.7
276.2
21.4
6.8
247.8
454.1
456.5 446.
310.2 308.7 293.3 300.3
272.3 270.0 257.9 266.
19.2
20.7
20.6
20.
7.1
6.7
6.9
6.7
245.7 242.4 231.
238.7
7.3
236.0
117.2
113.2
112.9
109.5
109.6
50.3
50.0
49.3
49.6
82.9
81.5
80.3
70.8
37.9 38.7
35.4
34.1
45
45
4.3
3.8
3&3 342 31.0
30.3
148.2 147.3 151.9 152.9
128.5 129.0 130.0 132.9
13
1.7
1.3
1.5
6.0
6.6
6.6
6.9
49.0
77.7
38.1
465.6
112.9
50.5
50.6
51.5
81.8
80.1
84.6
36.5
35.4
42.6
4.4
4.5
5.5
31.9 30.9
37.0
146.2 148.6 148.2
126.1 128.7 129.0
1.4
1.6
1.2
6.1
5.2
5.9
458.9
111.4
110.6
452.1
303.4
265.4
22.3
4.3
33.9
148.1
128.3
^3.3
7.6
•j
6.2
121.4
A
A
A
5.5
119.6
6.1
121.6
6.2
121.3
6.5
121.2
0
6.5
122.0
124.5
1.0
6.6
124.4
61.2
60.8
61.3
61.0
59.9
60.7
61.4
61.6
A
e!i
11.0
10.6
11.1
11.3
11.4
11.0
11.2
11.7
50.3
48.3
50.0
50.0
51.1
51.0
52.8
52.0
20.2
19.8
19.1
19.6
18.1
22.2
19.7
19.9
8.6
9.6
8.5
9.2
7.3
8.8
8.6
9.1
10.7
11.6
10.8
10.6
11.3
14.1
11.7
10.7
802.7 827.1 824.2 830.1 832.9 837.1 840.9 847.5
656.8 672.3 670.1 674.7 678.5 682.8 687.3 691.5
15.1
15.1
14.6
15.2
15.3
15.4
15.7
15.6
73.4
73.2
71.1
73.7
74.3
74.9
75.4
76.0
571.3 583.9 582.0 586.0 589.1 592.7 596.5 600.0
484.5
492.8
491.7
494.4
496.2
498.1
500.9
52.7
35.0
145.8
114.9
31.1
-1.7
54.8
37.7
154.8
121.0
34.3
-2.9
54.5
37.1
154.0
120.6
33.9
-2.7
55.0
38.0
155.3
121.0
34.8
-2.6
55.6
38.9
154.3
119.5
35.5
56.1
40.2
154.2
118.5
36.7
-3.9
56.7
40.7
57.2
41.5
153.5
117.0
155.9
118.4
37.7
38.8
-4.3
-5.0
666.5 670.2
178.7 174.2
488.1 496.7
669.8
174.9
495.5
671.9
174.3
498.3
670.8 672.8
171.7 171.8
500.0 501.9
675.1
171.5
504.6
677.9
171.9
507.0
-4.0
503.3
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
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, excluding the
lines in the addenda.
Chain-type quantity indexes for the series in this table appear in table 7.11.
See footnotes to table 3.7.
SURVEY OF CURRENT BUSINESS
D-10 • National Data
November 1998
Table 3.10.—National Defense Consumption Expenditures and Gross
Investment
Table 3.11.—Real National Defense Consumption Expenditures and Real
Gross Investment
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1996
II
National defense
consumption
expenditures and
gross investment '
Consumption expenditures
Durable goods2
Aircraft
Missiles
Ships
Vehicles
Electronics
Other durable goods
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods ....
Services
Compensation of general
government employees,
except force-account
construction 3
Military
Civilian
Consumption of general
government
fixed
capital4
Other services
Research and
development
Installation support
Weapons support
Personnel support
Transportation of
material
Travel of persons
Other
Gross investment
Structures
Equipment
Aircraft
Missiles
Ships
Vehicles
Electronics
Other equipment
Addendum:
Compensation of general 3
government employees ....
III
1996
1998
1997
1997
IV
I
II
347.1 346.5 331.6 339.8 343.5
310.4 306.0 304.8 293.3 303.0 303.0
22.4
21.1
21.7
20.8 20.4
20.7
20.8
19.6
9.7
10.4
9.3 10.1
8.7
9.6
9.0
10.3
2.4
2.2
2.7
22.88
2.6
2.6
3.0
2.5
.7
.77
.7
.7
.6
.9
.7
.7
1.0
.99
.9
.8
1.0
.9
.9
.9
2.4
2.5
2.6
2.7
2.6
2.5
2.5
2.7
5.0
4.4
4.6
4.1
4.3
4.9
4.5
4.4
7.2
6.4
7.4
66.99
6.5
7.6
7.2
7.4
2.0
2.5
2.0
2.0
3.4
3.1
2.9
3.1
2.0
1.7
1.4
1.2
1.3
1.5
1.2
1.5
2.9
2.7
3.1
3.1
3.1
2.9
3.2
3.0
275.3 278.2 281.4 279.1 276.7 266.4 275.8 273.7
349.1
351.0
346.0
304.1
306.3
133.8
133.3
84.3
49.5
84.2
49.1
133.5
84.1
49.4
133.1
84.1
48.9
131.9
83.7
48.2
133.4
85.0
48.4
132.2
84.4
47.8
132.3
84.44
84
47.9
56.8
84.7
56.3
88.6
56.7
91.2
56.0
90.0
55.7
89.1
55.3
77.7
54.8
88.9
54.4
87.00
87
25.9
27.2
28.9
26.3
31.3
26.8
6.3
19.7
29.3
26.9
6.9
20.4
28.6
25.7
7.0
21.0
22.0
25.1
5.6
18.6
27.5
25.8
6.4
21.5
286
28.6
25.1
5.8
20.22
20
4.5
3.6
-1.0
38.7
5.6
33.2
3.7
2.9
6.7
1.5
3.8
14.7
4.5
3.6
-1.5
41.1
5.7
35.4
7.1
3.1
6.4
1.5
3.6
13.6
4.7
3.6
-1.4
41.7
5.7
36.1
8.3
3.1
5.8
1.4
3.2
14.3
4.6
3.5
-1.8
38.3
5.4
4.7
3.5
-.6
36.8
4.9
31.9
4.3
2.7
6.0
1.8
3.6
13.5
44.77
3.5
-8
-.8
40.5
5.4
35.0
66.11
22.77
66.55
11.55
3.4
14.9
149
5.7
18.8
4.9
4.0
6.4
20.1
4.6
3.6
-1.9
-1.3
46.9
39.7
6.7
40.2
9.2
4.3
6.8
1.1
3.5
15.3
5.7
34.0
6.0
3.0
6.1
1.5
3.6
13.9
32.9
5.1
3.2
6.3
1.3
3.4
13.6
,090
132.3
133.8 133.3 133.5 133.1 131.9 133.5 132.2 1<w
"*
or fixed
fixed
1. Gross government investment consists of general government and government enterpn'se expenditures for
assets; inventory investment is included in government consumption expenditures.
2. Consumption expenditures for durable goods excludes expenditures classified as investment, except for goods
transferred to foreign countries.
3. Compensation of government employees engaged in new force-account construction and related expenditures
for goods and services are classified as investment in structures. The compensation of all general government employees is shown in the addendum.
measure of the value of the services of general government fixed assets; use of depreciation assumes a zero
net return on these assets.
1997
1997
II
III
National defense
consumption
expenditures and
gross investment '
Consumption expenditures ......
Durable goods2
Aircraft
Missiles
Ships
Vehicles
Electronics
Other durable goods
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods ....
Services
Compensation of general
government employees,
except force-account
construction3
Military
Civilian
....
Consumption of general
government fixed
capital4
Other services
Research and
development
Installation support
Weapons support
Personnel support
Transportation of
material
Travel of persons
Other
Gross investment
Structures
Equipment
Aircraft
Missiles
Ships
Vehicles
Electronics
Other equipment
Residual
Addendum:
Compensation of general 3
government employees ....
III
1998
IV
I
II
III
319.1 308.9 311.7 310.2 308.7 293.3 300.3 303.4
276.6 272.4 276.2 272.3 270.0 257.9 266.1 265.4
20.8
20.4
21.4
19.2
20.6
20.7
20.1
22.3
8.7
9.4 10.0
8.5
9.6
9.9 10.3
9.1
3.2
2.7
2.8
2.6
2.8
2.5
2.3
3.0
.7
.8
.7
.7
.6
.7
.6
.7
.7
.8
.8
.8
.8
.7
.8
.8
2.6
2.8
2.9
2.9
2.6
2.7
2.8
2.8
4.7
4.1
4.2
4.2
3.8
4.2
4.4
4.7
7.0
7.0
7.1
6.8
6.9
6.7
6.7
7.3
2.8
3.2
3.1
3.0
2.7
2.5
2.5
2.8
1.2
1.4
1.4
1.1
1.6
1.3
1.2
1.9
2.8
2.8
2.6
3.0
2.9
2.9
2.9
2.7
248.6 244.9 247.8 245.7 242.4 231.1 238.7 236.0
117.2
76.9
40.4
112.9
74.8
38.3
113.2
74.7
38.6
112.9
74.9
38.2
111.4
74.3
37.3
110.6
73.8
37.0
109.5
73.1
36.7
109.6
73.1
36.7
51.5
80.1
50.5
81.8
50.6
84.6
50.3
82.9
50.0
81.5
49.6
70.8
49.3
80.3
49.0
77.7
26.2
24.9
5.2
17.0
28.5
23.8
5.6
17.5
31.0
24.4
5.5
17.2
28.7
24.3
6.1
17.8
27.9
23.1
6.1
18.0
21.4
22.6
4.9
15.8
26.6
23.1
5.6
18.1
27.5
22.1
5.0
16.6
4.9
3.8
-1.7
42.6
5.5
37.0
6.9
4.6
6.1
1.0
4.4
14.4
-.7
4.5
3.4
-1.1
36.5
4.5
31.9
4.9
3.1
5.4
1.3
4.9
13.0
-1.5
4.4
3.4
-.9
35.4
4.4
30.9
2.9
2.9
5.9
1.4
5.2
13.7
-2.0
4.3
3.3
-1.3
37.9
4.5
33.3
5.9
3.3
5.6
1.4
5.1
12.7
4.5
3.1
-1.5
35.4
4.3
31.0
4.2
3.2
5.6
1.2
5.0
12.7
-.9
4.5
3.1
-.5
34.1
3.8
-1.5
4.6
3.3
-1.2
38J
4.5
34.2
7.0
3.2
5.1
1.3
4.6
13.4
-1.4
30.3
3.5
2.8
5.4
1.6
5.4
12.6
-1.8
4.4
3.1
-.7
38.1
4.3
33.9
5.4
2.8
5.8
1.4
5.3
13.9
-2.0
117.2
112.9
113.2
112.9
111.4
110.6
109.5
109.6
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. i
The residual line is the difference between the first line and the sum of the most detailed lines, excluding the '
line in the addendum.
i
Chain-type indexes for the series in the table appear in table 7.12.
See footnotes to table 3.10.
D-ll
National Data
SURVEY OF CURRENT BUSINESS
November
4. Foreign TransactionsTable 4.1.—Foreign Transactions in the National Income and Product
Accounts
Table 4.2.—Real Exports and Imports of Goods and Services and
Receipts and Payments of Factor Income
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1996
1997
1997
II
III
1998
IV
Receipts from the rest of
1,109.3 1,230.9 1,229.4 1,256,0 1,254.9
the world
Exports of1 goods and services ... 873.8 965.4 961.1 981.7 988.6
618.3 688.3 682.9 700.2 708.9
Goods
421.6 483.0 478.7 495.3 498.7
Durable
196.7 205.3 204.2 204.9 210.2
Nondurable
255.5 277.1 278.2 281.5 279.7
Services 1 .
235.5 265.5 268.3 274.3 266.3
Receipts of factor income
Capital grants received by the
0
0
0
0
0
United States (net)
Payments to the rest of
1,109.3 1,230.9 1,229.4 1,256.0 1,254.9
the world . .
Imports ofl goods and services ... 965.0 1,058.8 1,047.9 1,076.4 1,087.4
Goods
809.0 888.3 879.2 902.7 912.4
533.6 589.5 583.7 600.5 608.7
Durable
275.4
298.8 295.5 302.3 303.7
Nondurable
156.0 170.4 168.7 173.6 174.9
Services l
Payments of factor income
223.1 273.5 269.4 283.0 285.9
40.4
39.5 36.0 37.6 49.4
Transfer payments (net)
19.8
16.9 18.9 18.2 19.5
From persons (net)
12.7
9.9
9.9 21.5
16.2
From government (net)
8.0
8.1
8.1
8.0
From business
7.3
Net foreign investment
;... -119.2 -140.9 -123.9 -141.0 -167.8
I
II
1,243.6
973.3
694.5
495.4
199.2
278.8
270.3
0
1,243.6
1,097.1
920.9
625.6
295.2
176.2
285.1
37.0
19.2
9.9
7.9
-175.6
1997
860.0
629.4
464.1
169.3
231.8
214.8
971.2
824.7
571.7
253.4
147.3
200.9
970.0
726.5
554.5
180.8
247.0
238.0
III
1,220.2
949.6
668.8
474.3
194.5
280.8
270.6
0
1,220.2
1,108.9
931.8
634.1
297.7
177.1
289.3
36.8
19.9
9.0
7.9
-214.8
935.7
661.4
471.5
189.9
274.3
0
1,104.4
928.5
633.0
295.5
175.9
37.6
20.5
8.8
8.2
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods
to services.
1996
Exports !of goods and services
Goods
Durable
Nondurable
Services l
Receipts of factor income
Imports of
goods and services
Goods 1
Durable
Nondurable
Services1
Payments of factor income
1,106.1
945.7
667.7
280.3
161.8
240.7
1997
II
III
963.6
719.1
548.6
179.2
247.5
241.0
1,095.2
937.4
659.2
280.0
159.2
237.5
988.1
740.6
570.4
180.4
251.1
245.6
1,130.5
966.7
681.2
287.7
165.2
248.9
1998
IV
998.8
754.9
578.1
186.3
248.6
237.6
1,147.8
981.8
696.6
288.1
167.5
250.5
I
II
III
991.9
748.5
577.9
181.1
247.8
241.0
1,190.4
1,021.0
726.9
297.6
171.3
249.6
972.1
726.3
556.2
179.3
248.8
241.0
1,217.3
1,048.8
745.5
306.7
171.0
252.8
965.0
725.5
557.1
178.0
243.3
1,227.5
1,060.3
753.6
310.2
170.1
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.
NOTE.-Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
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.
Chain-type quantity indexes for the series in this table appear in table 7.9.
SURVEY OF CURRENT BUSINESS
D-12 • National Data
November 1998
Table 4.3.—Exports and Imports of Goods and Services by Type of
Product
Table 4.4.—Real Exports and Imports of Goods and Services by Type of
Product
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1996
Exports of goods and
serviCGS
Exports of goods l
Foods, feeds, and beverages
Industrial supplies and
materials
Nondurable goods
Capital goods, except
automotive
Civilian aircraft, engines,
and Darts
Computers, peripherals,
Other
Automotive vehicles, engines,
1997
II
III
IV
I
II
873.8
965.4
961.1
981.7
988.6
973.3
949.6
618.3
688.3
682.9
700.2
708.9
694.5
668.8
49.8
44.9
148.6
144.2
Nondurable ooods
Nlnnfii irshlp nofvic!
Transfers under U.S. military
agency sales contracts
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Other
Imports of goods and
services
Imports of goods!
Foods, feeds, and beverages
industrial supplies and
materials, except petroleum
and products
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except
automotive
Civilian aircraft, engines,
and parts
Computers, peripherals,
and parts
Other
Automotive vehicles, engines,
and parts
Consumer goods, except
automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Imports of services *
Direct defense expenditures ...
Travel
Passenoer fares
Other transportation
Royalties and license fees
Other private services
Other
Addenda:
Exports of agricultural goods2
Exports of nonagricultural
goods
Imports of nonpetroleum
goods
.p-7
C7Q
«i A
Q«
Royalties and license fees
Other private services
22-5
Residual
Imports of goods and
50.1
49.4
54.0
141.0
152.5
153.3
155.1
154.4
51.0
90.1
55.1
97.5
55.6
97.7
55.7
99.4
55.8
98.6
56.4
92.1
53.6
90.5
1395
51*8
8/7
253.1
295.3
290.4
305.7
306.5
302.0
288.4
2958
30.8
41.4
39.0
42.8
43.6
48.9
44.8
565
43.7
49.4
49.6
51.9
49.1
45.5
44.8
178.6
204.6
201.8
211.0
213.9
207.7
198.9
45 o
1943
65.0
74.0
73.5
74.8
76.6
77.7
72.2
640
70.1
35.8
34.3
33.4
16.7
16.7
77.4
39.9
37.6
37.5
18.8
18.8
78.2
40.5
37.7
37.4
18.7
18.7
77.5
40.3
37.2
37.7
18.9
18.9
78.8
40.5
38.3
38.5
19.2
19.2
78.3
40.2
38.1
38.1
19.1
19.1
80.1
40.5
39.6
39.1
19.6
19.6
255.5
277.1
278.2
281.5
279.7
278.8
280.8
799
40-8
39'l
004
192
19*2
274 3
14.6
69.8
20.4
27.0
32.8
70.8
20.0
17.5
73.3
20.9
27.9
33.7
82.2
21.6
19.0
74.2
20.8
27.9
33.6
81.0
21.7
18.9
73.3
20.8
27.7
34.3
84.7
15.8
72.8
21.5
28.3
33.5
86.0
21.8
17.9
72.8
21.4
27.2
33.1
84.4
21.9
15.6
73.9
21.8
26.9
33.9
86.4
22.2
67.9
Ic7.0
1 ma A
965.0 1,058.8 1,047.9 1,076.4 1,087.4 1,097.1 1,108.9 1 , 1 lw.*f
809.0 888.3 879.2 902.7 912.4 920.9 931.8 928.5
39.7
39.9
40.5
40.3
41.7
41.8
40.6
125.2
135.4
133.7
137.8
139.0
141.3
144.4
63.1
62.1
72.7
69.3
66.2
71.8
68.9
64.8
70.7
70.4
67.4
70.3
71.8
67.2
68.6
73.4
67.9
54.9
77.2
67.2
53.9
146.1
78.5
67.6
49.3
229.1
254.2
251.7
260.9
264.8
268.9
270.5
269.9
12.7
16.6
15.6
19.0
18.1
17.9
22.4
22.8
70.7
1 76.4
35.7
61.5
70.2
70.4
72.8
70.9
72.4
71.7
165.7
169.1
175.8
178.7
176.4
154.9
167.4
128.9
140.8
139.0
141.7
141.0
148.0
146.0
141.6
171.1
193.0
191.7
196.0
89.4
81.7
46.3
23.1
23.1
98.5
94.5
53.4
26.7
26.7
97.9
93.8
52.5
26.2
26.2
99.6
96.3
55.5
27.8
27.8
202.3
102.9
209.3
107.0
102.3
217.5
111.6
105.9
56.7
28.4
28.4
57.7
28.9
28.9
156.0
170.4
168.7
173.6
174.9
176.2
177.1
11.1
48.0
15.8
27.7
11.5
51.2
18.2
29.3
10.8
51.1
18.7
29.6
11.8
51.6
18.8
29.1
10.2
45.0
12.2
51.3
18.2
29.9
10.3
45.9
12.6
52.7
18.3
29.1
11.5
44.9
12.2
53.2
18.5
29.6
10.0
46.4
218.0
111.5
106.5
62.9
31.5
31.5
175.9
12.2
523
18 1
29 9
10.0
46 1
73
7.9
38.8
6.7
9.4
43.8
7.0
8.7
43.0
6.9
7.2
99.4
56.5
28.2
28.2
7.1
7.2
7.2
61.5
58.4
57.3
57.3
60.5
56.4
52.0
50.7
556.8
629.9
625.6
642.9
648.4
638.1
616.8
610.7
736.3
816.6
808.4
832.4
843.8
865.9
877.8
879.2
ment, 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.
1997
II
Exports of goods and
services
Exports of goods l
Foods, feeds, and beverages
Industrial supplies and
materials
Durable goods
Nondurable goods
Capital goods, except
automotive
Civilian aircraft, engines,
and parts
Computers, peripherals,
and parts
Other
Automotive vehicles, engines,
and parts
Consumer goods, except
automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Exports of services 1
Transfers under U.S. military
agency sales contracts
Travel
935.7
661.4
43 3
51.5
2.1.7
1997
III
55.5
Consumer goods, except
nth or
1996
1998
1997
Pacconnor fa roc
Hthpr transnnrtfltinn
corvipoc
Imports of ooods 1
Foods, feeds, and beverages
Industrial supplies and
materials, except petroleum
and products
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except
automotive
Civilian aircraft, engines,
and parts
Computers, peripherals,
and parts
Other
Automotive vehicles, engines,
and parts
Consumer goods, except
automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Imports of services l
Direct defense expenditures ...
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Other
Residual
Addenda:
Exports of agricultural goods2
Exports of nonagricultural
goods
Imports of nonpetroleum
III
1998
IV
I
II
III
860.0
629.4
43.9
970.0
726.5
963.6
719.1
988.1
740.6
998.8
754.9
991.9
748.5
972.1
726.3
965.0
725.5
43.9
41.9
42.3
47.4
45.6
41.7
41.4
121.9
44.8
77.1
132.4
133.0
130.7
129.2
48.8
83.6
49.1
83.9
49.1
85.1
50.2
84.6
51.4
81.5
49.2
81.6
48.2
81.1
310.8
388.6
381.5
404.7
408.7
405.5
389.7
403.2
134.2
134.7
132.8
27.0
35.0
33.2
36.1
36.7
41.0
37.4
47.2
98.1
203.3
143.9
242.8
143.1
239.0
156.2
250.7
152.4
254.9
146.2
248.4
149.2
238.3
156.8
233.4
62.4
70.4
69.9
71.1
72.9
73.9
68.7
60.8
67.3
34.9
32.4
32.3
16.1
16.1
231.8
73.7
38.5
35.3
37.2
18.6
18.6
74.6
39.0
35.5
37.0
18.5
18.5
73.7
38.8
34.9
37.5
18.7
18.7
74.8
39.0
35.8
38.3
19.2
19.2
74.4
38.7
35.6
38.3
19.2
19.2
76.3
39.2
37.0
39.5
19.8
19.8
76.2
39.5
36.7
39.2
19.6
19.6
247.0
247.5
251.1
248.6
247.8
248.8
243.3
16.1
64.0
19.7
26.3
30.2
75.0
16.1
17.2
64.9
19.1
26.3
30.2
74.1
16.1
17.7
64.1
19.3
26.3
30.7
77.3
16.1
14.9
62.8
20.4
26.6
29.9
78.2
16.1
16.7
62.5
20.3
26.4
29.5
76.7
16.2
14.6
62.7
21.2
26.2
30.2
78.3
16.2
15.4
57.4
19.1
27.0
30.4
78.5
16.2
-56.8
-55.9
-65.1
-62.4
-57.1
-59.2
13.2
62.9
18.6
25.5
29.9
65.7
16.2
-28.1
-63.3
971.2 1,106.1 1,095.2 1,130.5 1,147.8 1,190.4 1,217.3 1,227.5
824.7 945.7 937.4 966.7 981.8 1,021.0 1,048.8 1,060.3
32.3
35.5
35.3
36.3
36.3
114.2
123.7
123.0
125.9
57.3
56.8
63.8
61.8
61.8
66.7
61.2
61.7
68.1
62.4
63.5
69.1
296.6
373.3
367.0
11.2
14.1
13.3
121.8
177.5
163.5
217.6
118.8
165.4
38.2
38.3
37.9
127.3
132.8
137.3
141.5
64.5
62.7
66.9
67.2
65.6
68.3
71.4
65.6
74.5
74.1
67.2
72.7
385.0
396.7
413.6
424.7
431.3
16.1
15.2
15.0
18.8
19.1
160.8
214.8
171.9
220.2
173.1
231.1
187.9
238.5
197.7
237.2
201.0
240.7
129.4
128.2
130.2
129.1
135.5
133.9
130.5
188.8
187.3
191.9
86.7
78.7
43.0
21.5
21.5
97.7
91.1
49.9
24.9
24.9
96.9
90.3
49.0
24.5
24.5
99.0
92.8
51.9
25.9
25.9
198.6
102.9
206.3
107.8
95.7
52.8
26.4
26.4
98.5
53.4
26.7
26.7
215.5
113.4
102.2
216.9
114.2
102.8
53.9
27.0
27.0
59.1
29.6
29.6
147.3
161.8
159.2
165.2
167.5
171.3
171.0
170.1
10.3
43.9
15.0
26.1
11.6
47.2
16.3
28.1
10.8
46.5
16.6
28.3
12.2
47.6
16.6
28.1
12.6
48.4
16,2
29.0
13.1
50.7
16.4
29.1
12.7
50.8
15.8
29.1
39.0
44.1
43.2
45.4
46.1
13.7
50.6
16.3
28.9
10.3
45.3
46.7
46.6
6.0
-24.2
6.3
-44.9
6.2
-43.8
6.5
-48.4
6.4
-50.4
6.5
-57.1
6.5
-61.1
6.6
-62.4
48.5
49.3
47.6
48.6
52.2
50.9
47.6
47.3
7.2
8.4
7.8
9.2
9.2
8.9
8.9
582.5
681.1
675.6
696.3
706.4
701.5
682.9
682.4
759.4
878.3
868.5
896.9
914.5
952.2
974.6
987.3
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive.
The residual line following the detail for exports is the difference between the aggregate "exports of goods and
services" and the sum of the detailed lines for exports of goods and export of services. The residual line following
the detail for imports is the difference between the aggregate "imports of goods and services" and the detailed
lines for imports of goods and imports of services.
Chain-type quantity indexes for the series in this table appear in table 7.10.
See footnotes to table 4.3.
,'
j
|
{
j
|
j
'
D-13
National Data
SURVEY OF CURRENT BUSINESS
November 1998
5. Saving and InvestmentTable 5.1 .—Gross Saving and Investment
[Billions of dollars]
Seasonally adjusted at annual rates
1996
1997
1997
II
Gross saving
III
1998
IV
II
I
III
1,274.5 1,406.3 1,416.3 1,427.0 1,428.0 1,482.5 1,448.5
Gross private saving
Personal saving
Undistributed corporate profits with inventory valuation and capital consumption adjustments
Undistributed profits
.
Inventory valuation adjustment
Capital consumption adjustment
Corporate consumption of fixed capital
Noncorporate consumption of fixed capital
Wage accruals less disbursements
Gross government saving . .
Federal
Consumption of fixed capital
Current surplus or deficit (-) national income and product accounts
State and local
Consumption of fixed capital
Current surplus or deficit (— ) national income and product accounts
Capital grants received by the United States (net)
Gross investment
.
Gross private domestic investment
Gross government investment
Net foreign investment
Statistical discrepancy
Addendum:
Gross saving as a percentage of gross national product
1,114.5 1,141.6 1,169.5 1,139.0 1,131.6 1,130.1 1,079.0
98.2
98.5
73.0
25.6
121.0 151.9
158.5
295.0 3120
2624 2967 2990 3115
3009
1923
2132
213.2 229.5 210.6 201.8 203.7
25.3
7.8
4.8
4.3
6.9
10.3
-1.2
53
71.4
76.6
75.5
77.2
80.1
84.9
89.4
96.8
452.0
232.3
9.3
477.3
242.8
3.7
473.7
241.3
3.7
480.8
244.4
3.7
487.7
247.0
3.7
492.5
248.6
4.0
497.8
250.7
4.0
503.1
253.6
4.0
160.0
-59.6
264.7
246.9
288.0
296.4
49.5
70.6
36.1
70.9
70.0
70.3
72.3
70.2
352.4
128.7
369.4
143.9
-110.3
199.6
-21.1
215.2
-34.8
210.7
-.3
218.0
2.2
224.1
69.9
58.8
69.5
74.4
223.7
225.6
77.1
1226
81.1
80.6
81.4
134.1
130.1
136.6
70.6
0
0
0
82.7
141.4
83.5
140.2
0
0
84.3
6&6
85.2
141.3
0
0
0
1,242.3 1,350.5 1,368.6 1,361.9 15360.7 1,428.4 1,362.7
1,131.9 1,256.0 1,259.9 1,265.7 1,292.0 1,366.6 1,345.0 1,361.8
229.7 235.4 232.6 237.3 236.5 237.4 232.5 238.9
-119.2 -140.9 -123.9 -141.0 -167.8 -175.6 -214.8
-32.2
-55.8
-47.7
-*5.1
-67.3
-54.1
-85.7
16.6
17.4
17.6
17.5
17.3
17.7
17.2
Table 5.4.—Private Fixed Investment by Type
Table 5.5.—Real Private Fixed Investment by Type
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
1996
1997
1997
II
Private fixed investment
Nonresidential
Structures
Nonresidential buildings,
including farm
Utilities
Mining exploration, shafts,
and wells
Other structures
Producers' durable
equipment
Information processing and
related equipment
Computers and
peripheral equipment l
Other
Industrial equipment .. . .
Transportation and related
equipment
Other
Residential
Structures
Single family
Multifamily
Other structures
Producers' durable
equipment
1996
1998
IV
I
II
1997
III
1997
II
III
1998
IV
I
II
III
114.9
131.7
125.5
138.6
122.7
138.9
129.0
140.7
129.9
142.1
134.7
145.4
136.8
146.8
139.5
148.1
137.2
112.7
152.0
123.3
151.9
122.8
158.8
126.0
155.9
124.8
172.4
132.0
181.2
137.0
168.9
138.9
Private fixed investment
Nonresidential
Structures
Nonresidential buildings,
including farm . . .
Utilities
Mining exploration, shafts,
and wells
Other structures
Producers' durable
equipment
Information processing and
related equipment
Computers and
peripheral equipment l
Other
Industrial equipment
Transportation and related
equipment
Other .
311.8
327.9
325.9
328.8
337.4
349.8
363.8
372,0
Residential
275.9
282.8
282.5
282.3
287.9
298.5
309.1
314.3
304.3
159.1
319.9
164.4
317.9
163.5
320.8
164.0
329.4
168.7
341.5
175.8
355.4
183.8
363.4
190.0
Structures
Single family
Multifamily
Other structures
Producers' durable
equipment
Residual
268.6
136.6
275.1
137.2
274.9
137.2
274.5
136.1
280.1
139.0
290.5
145.2
300.9
151.3
306.1
155.5
1,099.8 1,188.6 1,176.4 1,211.1 1,220.1 1,271.1 1,305.8 1,303.0
787.9
860.7
850.5
882.3
882.8
921.3
941.9
931.1
216.9
240.2
234.3
243.8
246.4
245.0
245.4
241.7
160.9
177.3
172.9
180.0
178.9
180.6
181.8
178.7
31.7
33.5
33.4
34.1
34.1
34.2
34.7
35.1
18.1
22.7
23.8
24.3
23.5
22.4
21.5
6.1
9.2
6.6
6.5
6.4
6.2
6.7
222
5.8
571.0
620.5
616.2
638.5
636.4
676.3
696.6
689.4
189.4
206.6
202.6
213.0
213.6
226.5
231.6
233.5
81.1
79.9
84.0
83.7
91.8
94.8
94.0
74.4
20.3
124.8
7.6
22.6
22.7
22.0
23.8
25.1
23.5
22.7
132.8
131.8
134.7
136.8
140.6
148.1
150.7
8.0
8.0
8.0
8.0
8.3
1. Includes new computers and peripheral equipment only.
III
Seasonally adjusted at annual rates
8.5
8.5
1,050.6 1,138.0 1,127.0 1,159.3 1,169.5 1,224.9 1,264.1 1,267.8
776.6
859.4
848.2
882.2
886.2
931.9
960.4
958.1
189.7
203.2
199.3
205.2
205.7
203.1
201.9
198.6
141.0
150.5
147.8
152.0
149.5
150.1
149.8
146.3
27.8
28.7
28.6
29.1
29.2
29.2
29.5
29.8
15.3
17.9
17.6
18.6
18.9
17.9
17.0
17.0
5.5
5.8
5.1
5.2
7.8
5.6
5.5
5.4
589.8
660.9
653.8
682.6
686.4
738.8
771,3
773.3
245.4
298.0
288.1
311.5
320.7
353.4
376.8
396.2
151.3
115.4
120.5
214.8
126.6
125.9
203.9
123.7
126.4
229.9
130.0
127.7
242.9
131.5
128.6
292.2
136.7
131.5
331.5
139.7
132.5
362.6
142.9
133.6
127.6
104.2
140.3
113.0
140.5
112.4
145.9
115.6
143.8
114.1
159.6
120.2
167.9
124.6
156.4
125.9
18.7
20.2
20.3
19.5
21.0
22.1
20.7
19.9
113.8
118.5
118.0
119.7
120.9
123.8
129.6
131.2
7.8
8.0
8.2
8.2
7.3
7.7
7.6
-04.4
-69.1
-62.1
7.8
-77.8
-85.5 -117.2 -143.7 -166.9
1. Includes new computers and peripheral equipment only.
NOTE.-Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
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.
Chain-type quantity indexes for the series in this table appear in table 7.6.
SURVEY OF CURRENT BUSINESS
D-14 • National Data
November 1998
Table 5.10.—Change in Business Inventories by Industry Group
Table 5.11.—Real Change in Business Inventories by Industry Group
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
1996
1997
II
Change in business inventories ....
Farm
Nonfarm
Change in book value 1 .
Inventory valuation adjustment2
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Motor vehicle dealers 3 . . . .
Other3
Nondurable goods
Other
Durable goods
Nondurable goods
32.1
7.6
24.5
28.7
-4.2
12.8
9.9
2.9
3.7
4.3
-.6
2.7
3.4
-.7
1.1
1.0
.1
6.3
4.4
2.2
2.2
1.9
1.6
2.1
-.5
67.4
4.3
63.1
52.1
11.0
21.4
12.5
8.9
23.3
13.8
9.5
19.6
11.4
8.2
3.8
2.4
1.4
7.3
5.1
1.3
3.9
2.2
11.0
2.2
8.8
III
83.5 54.6
6.2 7.3
77.2 47.3
63.2 41.8
14.0
5.5
28.4 16.9
19.2 8.8
9.2 8.0
29.9 17.5
25.7
4.6
4.1 12.9
23.0 15.6
20.7 3.7
2.3 11.9
6.9 1.9
.9
5.1
1.8 1.0
6.5 5.5
1.6 3.7
-3.8
.8
5.5 2.9
4.9 1.7
12.4
7.4
2.2 2.7
10.2 4.7
IV
71.9
4.9
66.9
61.1
5.9
18.7
8.4
10.4
21.5
8.9
12.6
19.0
7.3
11.7
2.5
1.6
.9
17.8
15.3
11.7
3.5
2.5
8.9
1.4
7.5
1996
I
II
III
95.5
5.0
90.5
56.3
34.3
31.8
21.9
9.9
28.1
25.8
2.3
26.0
23.3
2.7
2.0
2.4
-.4
18.3
1.8
-4.1
5.9
16.5
12.3
.4
11.9
39.2
7.7
31.5
21.2
10.3
25.1
19.9
5.3
7.9
1.6
6.2
4.8
-.1
5.0
3.0
1.8
1.2
-12.7
-17.8
-15.3
-2.5
5.1
11.2
.8
10.4
58.7
7.0
51.7
17S
22.9
13.1
9.8
20.1
10.9
9.2
18.7
9.6
9.1
1.4
!l
4.6
2.1
-3.5
5.6
2.5
4.1
-.1
4.2
1. Beginning with 1982, this series is derived from the Census Bureau series "current cost inventories." For
earlier periods, it is derived from the Census Bureau "book value inventories" series. The series differ in the treatment of inventories reported on a last-in, first-out (LIFO) basis: The series prior to 1982 is a mix of LIFO and
non-LIFO inventories; the series beginning with 1982 is entirely on a non-LIFO basis.
2. Beginning with 1973; 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 (first-in, first-out; last-in, first-out; etc.)
underlying inventories derived primarily from Census Bureau statistics (see footnote 1). This mix differs from that
underlying business income derived primarily from Internal Revenue Service statistics. Prior to 1973, the two IVA's
are the same because information required for separate estimates is not available.
3. Prior to 1981, inventories of auto and home supply stores are included in motor vehicle dealers. Beginning
with 1981, these inventories are included in "other durable goods."
Seasonally adjusted at annual rates
1998
1997
1997
1997
II
Change in business inventories ....
Farm
Nonfarm
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
. .
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Motor vehicle dealers
Other
Nondurable goods
Other
Durable goods
Nondurable goods
Residual
III
1998
IV
I
II
III
30.0 63.2 79.0 51.0 66.5 91.4 38.2 57.2
7.1 4.3 6.8 7.3 3.7 5.3 8.7 8.5
23.2 58.8 72.1 44.0 62.7 85.9 29.9 49.2
12.0 20.1 26.7 15.8 17.7 30.2 23.9 21.9
9.5 12.0 18.4
8.4 8.1 21.0 19.1 12.7
2.6 8.1 8.4 7.4 9.5 9.2 4.9 9.2
4.1 22.0 28.3 16.7 20.2 27.0 7.6 19.4
4.2 13.3 24.9
4.5 8.6 25.1 1.6 10.7
.1 8.7 3.9 11.8 11.4
2.3 5.9 8.7
3.1 18.5 21.8 14.9 17.8 24.8 4.7 18.0
3.2 11.0 20.0 3.6 7.0 22.6
9.4
0
7.5 2.2 10.9 10.5 2.6 47 8.5
1.8 2.4 2.1 3.0 1.4
1.0 3.6 6.6
.9 2.3 4.9
.9 1.5 2.4 1.8 1.3
.1 1.2 1.7
.9
.9 -.3 1.2
.1
5.9 6.8 6.0 5.0 16.9 17.3 -11.9 4.3
4.0 4.7 1.4 3.4 14.1 1.6 -16.3
1.9
1.9 1.1 -3.5
.7 10.5 -5.7 -13.8 -3.2
2.1 3.6 5.1 2.7 3.3 5.5 -2.3 5.2
4.9 2.5
1.8 2.1 4.7 1.6 2.5 16.1
1.3 9.9 11.1 6.5 8.1 11.5 10.4
3.8
1.8
.4
.7 -.1
1.9 1.9 2.3 1.2
-.6 8.1 9.3 4.2 6.9 11.5 10.0
4.1
.1
—4
0
-.9
.9 -1.2 -1.5 -1.0
NOTE.—Chained (1992) dollar series for real change in business 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 quantjty 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-15
SURVEY OF CURRENT BUSINESS
November 1998
Table 5.12.—Inventories and Domestic Final Sales of Business by
Industry Group
Table 5.13.—Real Inventories and Real Domestic Final Sales of Business
by industry Group
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted quarterly totals
Seasonally adjusted quarterly totals
1997
II
1
III
1997
1998
IV
I
II
Inventories
. . . . 1,323.3 1,339.9 1,348.4 1,363.6 1,366.5
109.2 110.5 109.1 110.8 108.9
Farm
Nonfarm
.
. . . . . . . 1,214.1 1,229.4 1,239.3 1,252.8 1,257.6
700.6 704.1 711.0 721.5 720.0
Durable goods
Nondurable goods
.... 513.5 525.2 528.3 531.3 537.6
454.1 458.6 462.0 466.1 469.1
Manufacturing
284.2 286.0 287.9 292.1 295.4
Durable goods
169.9 172.7 174.1 174.0 173.7
Nondurable goods
311.9 317.8 321.0 324.8 326.0
Wholesale trade
198.3 199.1 200.5 206.2 205.6
Durable goods
113.6 118.8 120.5 118.6 120.4
Nondurable goods
. ..
267.7 272.9 276.0 280.2 280.7
Merchant wholesalers
Durable goods
171.8 172.4 173.6 178.7 177.9
95.8 100.4 102.5 101.4 102.8
Nondurable goods
44.2
45.0
45.2
44.9
44.6
Nonrnerchant wholesalers
27.4
27.7
26.4
26.6
26.9
Durable goods
18.4
17.2
17.8
18.0
17.5
Nondurable goods
316.3 318.1 321.4 325.3 323.6
Retail trade
171.5 172.1 175.3 175.8 171.3
Durable goods
83.2
85.4
85.6
86.9
Motor vehicle dealers
88.0
86.5
87.4
88.1
Other
.. .
86.0
88.8
Nondurable goods
144.9 146.0 146.0 149.5 152.3
Other
131.9 134.8 135.0 136.6 138.9
47.4
47.6
46.7
47.1
47.3
Durable goods
87.7
85.2
87.8
89.2
91.3
Nondurable goods
Final sales of domestic business2
559.1 569.7 574.6 582.3 590.6
Final sales of goods and structures of
2
299.4 305.7 306.8 312.5 315.2
domestic business
Ratio of inventories to final sales of domestic
business
2.34
2.31
2.37
2.35
2.35
Inventories to final sales
2.17
2.15
2.13
2.16
2.16
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods and
4.04
4.02
4.01
3.99
4.05
structures
III
1,368,5
102.5
1 ,265.9
724.4
541.6
471.9
2970
1749
3292
2075
121.8
283.8
1795
1043
45 4
27 9
174
325.2
1722
827
89.5
1530
139.6
47 7
920
595.0
315.7
2.30
2-13
4-01
1. Inventories are as of the end of the Quarter. The auarter-to-auarter chanae in inventories calculated from current-dollar inventories in this table is not the current-dollar change in business inventories (CBI) component of GDP.
The former is the difference between two inventory stocks, each valued at their respective end-or-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, CBI is stated at annual rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less
gross product of households and institutions and of general government and includes a small amount of final sales
by farm.
l
Inventories
Farm
Nonfarm
Durable goods
Nondurable goods
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
,
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Motor vehicle dealers
Other
Nondurable goods
Other
Durable goods
Nondurable goods
Residual
Final sales of domestic business2
pjnai sales of goods and structures of
domestic business2
Ratio of inventories to final sales of domestic
business
Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods and
structures
1998
II
III
IV
I
II
1,248.1
106.8
1,140.7
659.7
481.0
426.8
271.7
155.3
295.6
191.2
104.8
253.1
165.3
88.2
42.5
25.9
16.6
297.5
156.8
76.8
80.0
140.3
120.8
40.1
80.7
.4
504.3
1,260.8
108.6
1,151.7
664.4
487.3
430.8
273.8
157.1
299.8
192.4
107.7
256.8
166.2
90.9
43.0
26.2
16.9
298.7
157.6
77.0
80.7
140.7
122.4
40.7
81.8
.2
512.3
1,277.5
109.6
1,167.4
672.4
494.9
435.2
275.8
159.5
304.9
194.5
110.6
261.3
168.0
93.5
43.6
26.5
17.1
302.9
161.2
79.6
81.5
141.3
124.4
41.0
83.5
.6
515.5
1,300.3
110.9
1,188.9
684.2
504.6
442.8
281.1
161.8
311.6
200.8
111,2
267.5
173.6
94.1
44.1
27.1
17.0
307.3
161.6
78.7
82.9
145.3
127.3
41.0
86.4
.4
521.6
1,309.9
113.1
1,196.4
685.3
.5.11.0
448.7
285.9
163.0
313.5
201.2
112.6
268.7
.173.6
95.3
44.8
27.6
17.3
304.3
157.5
75.3
82.3
146.6
129.9
41.2
88.9
_2
281.3
287.3
288.4
294.0
296.5
297.1
2.47
2.26
2.46
2.25
2.48
2.26
2.49
2.28
2.48
2.26
2.49
2.27
4.05
4.01
4.05
4.04
4.03
4.07
III
1,324.2
115.2
1,208.7
691.5
517.1
454.2
289.1
165.3
318.3
203.8
114.8
273.1
175.9
97.4
45.2
27.9
17.3
305.3
157.9
74.5
83.7
147.2
130.8
41.2
89.9
-.4
528.4 531.5
1. Inventories are as of the end of the quarter. Quarter-to-quarter changes calculated from this table are at quarterly rates, whereas, the change in the business 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 product of households and institutions and of general government and includes a small amount of final sales
by farm.
NOTE.—Chained (1992) dollar inventory series are calculated as the product of the chain-type quantity index and
the average of the end-of-year fixed-weighted inventories for 1991 and 1992, divided by 100. Chained (1992) dollar
final sales series are calculated as the product of the chain-type index and the 1992 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 for inventories.
SURVEY OF CURRENT BUSINESS
D-16 • National Data
November
6. Income and Employment by IndustryTable 6.16C.—Corporate Profits by Industry Group
Table 6.1 C.—National Income Without Capital Consumption Adjustment
by Industry Group
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1996
1997
1997
II
National income without
capital consumption
adjustment
Domestic industries
Private industries
Agriculture, forestry, and
fishing
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
Transportation and public
utilities
Transportation
Communications
Electric, gas, and
sanitary services
Wholesale trade
Retail trade
Finance, insurance, and
real estate
Services
Government
Rest of the world
III
IV
I
6,200.3 6,606.0 6,558.1 6,664.5 6,735.4 6,832.2 6,901.3
5,351.8 5,728.5 5,683.5 5,783.9 5,849.7 5,937.2 5,999.1
106.0
108.0
107.5
103.0
47.9
52.5
52.3
52.8
53.8
99.9
54.9
289.2
305.1
302.4
306.0
312.5
320.1
102.0
326.7
51.2
1,085.9 1,151.0 1,142.8 1,168.8 1,175.1 1,170.9 1,169.3
617.9 659.4 650.7 674.1 680.0 678.8 680.2
489.1
468.0 491.6 492.2 494.6 495.1 492.1
464.7
195.0
137.0
480.9
208.0
139.3
476.3
205.3
136.5
484.4
210.6
141.4
489.4
213.6
142.0
497.3
213.7
148.5
495.1
214.9
147.3
132.7
133.6
134.4
132.4
133.8
135.0
132.9
350.9
509.6
384.2
543.2
382.4
537.5
389.4
546.6
390.3
552.8
400.9
567.0
408.5
576.5
1,089.2 1,192.0 1,181.3 1,201.9 1,223.0 1,245.4 1,264.4
1,407.9 1,513.6 1,500.6 1,526.5 1,549.8 1,580.6 1,605.4
848.5
12.4
877.5
-*.o
874.6
-1.1
880.6
-8.7
885.7
-19.6
895.0
-14.8
NOTE.—Estimates in this table are based on the 1987 Standard Industrial Classification (SIC).
II
6,212.7 6,598.0 6,557.0 6,655.8 6,716.0 6,817.1 6,882.3
106.4
1996
902.2
-18.8
1997
1997
1998
II
III
Corporate profits with inventory
valuation and capital
consumption adjustments
Domestic industries
Financial
Nonfinancial
Rest of the world
Receipts from the rest of the world
Less: Payments to the rest of the world
Corporate profits with inventory
valuation adjustment
Domestic industries
Financial
Federal Reserve banks
Other
Nonfinancial
Manufacturing
Durable goods
Primary metal industries
Fabricated metal products
Industrial machinery and
equipment
Electronic and other electric
equipment
Motor vehicles and equipment
Other
Nondurable goods
Food and kindred products
Chemicals and allied products
Petroleum and coal products ....
Other . . .
Transportation and public utilities
Transportation
Communications
Electric, gas, and sanitary services
Wholesale trade
Retail trade
Other
Rest of the world
III
1998
IV
I
II
750.4 817.9 815.5 840.9 820.8 829.2 820.6
654.0 718.9 710.2 738.6 728.8 730.6 723.3
105.5 124.7 123.5 123.3 129.5 131.3 130.1
548.5 594.2 586.7 615.2 599.3 599.3 593.2
96.4
99.0
105.4 102.3
134.5 149.5 153.3
38.1
50.4
47.9
92.0
98.6
97.3
157.2 142.5
146.1
146.0
50.6
47.5
48.7
54.8
679.0 741.2 740.1 763.7 740.7 744.3 731.3
582.6 642.2 634.7 661.4 648.7 645.8 633.9
110.7 130.0 128.7 128.6 134.7 136.3 134.4
21.8
88.9
23.3
106.6
471.8 512.3
195.6 214.4
97.2 107.3
5.6
5.4
23.0
23.6
105.8
506.0
215.5
105.7
5.5
105.0
532.8
2289
120.0
6.6
24.1
24.5
24.4
110.6 111.8 110.0
514.0 509.4 499.5
2123
1971
1946
107.5 100.8 104.5
5.7
6.3
5.8
14.2
15.5
14.9
17.3
15.7
12.6
15.5
26.1
27.6
26.6
31.5
30.1
23.2
28.5
20.1
24.8
24.4
27.6
24.0
21.9
2.4
29.0
98.5
22.0
28.8
3.8
30.0
2.6
31.7
107.1 109.8
6.0
31.0
2.1
29.8
109.0 104.8
222 259
6.2
19.8
4.9
30.7
96.2
30.1
90.2
206
21 4
39.7
88.3
18.0
32.3
38.0
52.7
62.7
28.4
14.9
35.7
88.6
17.0
31.3
40.3
47.6
62.2
27.0
10.9
37.8
91.7
17.3
34.1
40.3
51.5
67.4
100.1
103.4
101.8
18.9
10.0
39.8
87.5
17.5
32.5
37.5
53.5
67.4
96.5
105.4 102.3
92.0
98.6
97.3
22.7
28.1
21.4
27.2
109
180
?07
18?
36.7
92.7
14.8
35.8
42.1
37.9
51.8
93.8
38.3
88.4
17.6
31.2
39.7
49.8
61.2
98.5
40.5
87.0
18.3
28.9
39,8
50.5
59.1
93.8
96.4
99.0
28.9
NOTE— Estimates in this table are based on the 1987 Standard Industrial Classification.
III
National Data • D-17
SURVEY OF CURRENT BUSINESS
November 1998
7. Quantity and Price IndexesTable 7.1.—Quantity and Price Indexes for Gross Domestic Product
[Index numbers, 1992=100]
Seasonally adjusted
1996
Gross domestic product:
Current dollars
Chain-type quantity index
Chain-type price index ...
Implicit price deflator
Personal consumption
expenditures:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Durable goods:
Current dollars
Chain-type quantity index ...
Chain-type price index
Implicit price deflator
Nondurable goods:
Current dollars
Chain-type quantity index ...
Chain-type price index
Implicit price deflator
Services:
Current dollars
Chain-type quantity index ...
Chain-type price index
Implicit price deflator
Gross private domestic
investment:
Current dolfars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Fixed investment:
Current dollars
Chain-type quantity index ...
Chain-type price index
Implicit price deflator
Nonresidential:
Current dollars
Chain-type quantity index
Chain-type price index ...
Implicit price deflator
Structures:
Current dollars
Chain-type quantity
index
Chain-type price index
Implicit price deflator
Producers' durable
equipment:
Current dollars
Chain-type quantity
index
Chain-type price index
Implicit price deflator
Residential:
Current dollars
Chain-type quantity index
Chain-type price index ...
Implicit price deflator
1997
1997
Seasonally adjusted
1998
1996
II
III
IV
I
II
III
122.69
112.02
109.54
109.53
129.89
116.42
111.57
111.57
129.13
115.89
111.45
111.43
130.85
117.08
111.77
111.76
132.19
117.94
112.09
112.08
134.27
119.54
112.33
112.32
135.17
120.09
112.57
112.56
136.55
121.06
112.80
112.79
123.60
112.62
109.75
109.75
130.19
116.44
111.81
111.81
128.89
115.47
111.63
111.62
131.29
117.23
112.00
111.99
132.55
118.04
112.30
112.29
134.52
119.79
112.30
112.29
136.82
121.58
112.55
112.54
138.47
122.74
112.82
112.82
131.68
128.16
102.75
102.75
137.77
136.86
100.66
100.66
135.08
133.82
100.96
100.94
139.43 139.64 144.34 147.39 146.46
139.12 140.17 145.39 149.30 149.31
100.23 99.62 99.27 98.72 98.08
100.23 99.63 99.28 98.73 98.09
116.44
109.77
106.08
106.08
121.09
112.44
107.69
107.69
120.15
111.75
107.52
107.52
121.90
113.16
107.72
107.72
122.04
113.05
107.95
107.96
123.55
115.09
107.35
107.36
125.22
116.57
107.41
107.42
126.39
117.24
107.80
107.81
125.89
111.09
113.32
113.32
133.64
114.61
116.61
116.61
132.43
113.87
116.30
116.29
134.80
115.19
117.04
117.03
136.87
116.41
117.59
117.58
138.55
117.42
118.00
117.99
141.04
118.98
118.55
118.54
143.47
120.58
118.99
118.98
143.20
137.15
104.46
104.41
158.90
152.62
104.10
104.11
159.39
153.24
104.08
104.02
160.13
153.82
104.12
104.10
163.46
157.12
103.99
104.03
172.90
167.22
103.39
103.39
170.16
165.29
102.92
102.95
172.28
168.26
102.36
102.39
140.38
134.10
104.68
104.68
151.72
145.25
104.45
104.45
150.16
143.85
104.40
104.39
154.59
147.98
104.50
104.47
155.74
149.28
104.37
104.33
162.25
156.36
103.81
103.77
166.67
161.36
103.33
103.29
166.33
161.83
102.82
102.78
141.24
139.21
101.46
101.46
154.28
154.04
100.15
100.15
152.46
152.04
100.28
100.28
158.16 158.24 165.14 168.85 166.90
158.13 158.86 167.04 172.15 171.74
100.04 99.64 98.90 98.12 97.22
100.02 99.61 98.86 98.08 97.18
128.23 141.97 138.51 144.13 145.64 144.79 145.02 142.87
II
Exports of goods and
services:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Exports of goods:
Current dollars
Chain-type quantity index ...
Chain-type price index
Implicit price deflator
III
1998
IV
I
II
III
136.65 150.98 150.31 153.52 154.61 152.22 148.51 146.33
134.50 151.70 150.70 154.53 156.21 155.12 152.03 150.92
101.60 99.53 99.76 99.36 98.97 98.13 97.68 96.96
101.60 99.53 99.74 99.35 98.97 98.13
97.68 96.96
137.81 153.42 152.20 156.05 157.99 154.79 149.06 147.41
140.28 161.92 160.28 165.07 168.25 166.82 161.87 161.70
98.23 94.75 94.98 94.54 93.89 92.78 92.07 91.15
98.23 94.75 94.96 94.54 93.90 92.79 92.09 91.16
Exports of services:
Chain-type quantity index ...
Chain-type price index
Implicit price deflator
Imports of goods and services:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Imports of goods:
Current dollars
Chain-type quantity index ...
Chain-type price index
Implicit price deflator
Imports of services:
Current dollars
Chain-type quantity index ...
Chain-type price index
Implicit price deflator
Government consumption
expenditures and gross
investment:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Federal:
Current dollars
Chain-type quantity index ...
Chain-type price index
Implicit price deflator
133.95
121.50
110.24
110.24
145.25
129.48
112.18
112.18
145.86
129.77
112.41
112.40
147.58
131.64
112.11
112.11
146.64
130.32
112.53
112.53
146.17
129.91
112.52
112.52
147.21
130.46
112.84
112.84
143.78
127.57
112.72
112.71
144.25 158.27 156.65 160.90 162.55 164.00 165.76 165.09
145.19 165.35 163.72 169.00 171.59 177.95 181.97 183.49
99.36 95.72 95.66 95.16 94.62 92.05 90.98 89.86
99.36 95.72 95.68 95.21 94.73 92.16 91.09 89.97
148.48 163.04 161.35 165.68 167.46 169.01 171.02 170.41
151.36 173.56 172.05 177.43 180.19 187.38 192.49 194.61
98.10 93.94 93.76 93.32 92.81 90.07 88.72 87.45
98.10 93.94 93.79 93.38 92.94 90.19 88.84 87.56
125.69
118.65
105.93
105.93
137.34
130.39
105.33
105.33
135.97
128.32
105.95
105.97
139.92
133.11
105.10
105.12
140.97
135.01
104.40
104.42
141.98
138.03
102.85
102.87
142.70
137.82
103.52
103.54
141.72
137.06
103.37
103.39
111.19
100.35
110.80
110.80
115.10
101.68
113.20
113.20
114.85
101.63
113.01
113.01
115.49
101.99
113.24
113.24
116.17
102.01
113.87
113.87
115.91
101.53
114.17
114.17
117.20
102.45
114.39
114.40
117.94
102.82
114.70
114.70
98.19 98.53 99.03 98.68 98.51 96.90 98.63 98.24
88.19 86.75 87.20 86.92 86.46 84.50 86.00 85.63
111.35 113.58 113.57 113.52 113.91 114.66 114.66 114.69
111.34 113.58 113.57 113.52 113.93 114.67 114.68 114.72
112.16 120.09 117.81 121.29 121.56 120.06 119.36 117.37
114.33 118.22 117.59 118.83 119.79 120.58 121.49 121.70
114.33 118.22 117.57 118.83 119.81 120.60 121.51 121.72
National defense:
Current dollars
Chain-type quantity index
Chain-type price index ...
Implicit price deflator
93.41 92.07 92.90 92.38 92.21 88.24 90.43 91.41
84.93 82.20 82.94 82.56 82.15 78.06 79.93 80.75
109.98 112.00 112.01 111.90 112.23 113.04 113.12 113.17
109.98 112.00 112.02 111.90 112.25 113.05 113.14 113.21
146.90 159.64 158.53 164.27 163.72 174.00 179.21 177.36
Nondefense:
Current dollars
Chain-type quantity index
Chain-type price index ...
Implicit price deflator
110.01 114.50 114.16 114.22 114.07 118.26 118.87 115.09
96.03 97.64 97.39 97.36 96.79 99.83 100.48 97.28
114.57 117.27 117.21 117.32 117.83 118.46 118.30 118.30
114.57 117.27 117.22 117.32 117.85 118.46 118.31 118.30
151.75 170.04 168.20 175.62 176.58 190.08 198.43 198.96
96.80 93.88 94.23 93.54 92.75 91.57 90.35 89.18
96.80 93.88 94.25 93.53 92.72 91.54 90.32 89.15
138.25
122.32
113.03
113.02
145.37
125.36
115.96
115.96
144.48
125.26
115.35
115.34
145.77
125.14
116.50
116.49
149.58
127.64
117.20
117.19
155.10
132.34
117.21
117.20
161.30
137.05
117.71
117.69
164.90
139.33
118.37
118.36
NOTE.— Chain-type quantity and price indexes are calculated from weighted averages of the detailed output and
prices used to prepare each aggregate and component. Implicit price deflators are weighted averages of the detailed
price indexes used to prepare each aggregate and component and are calculated as the ratio of current- to chained-
1997
1997
State and local:
Current dollars
Chain-type quantity index ...
Chain-type price index
Implicit price deflator
120.52
109.09
110.48
110.48
126.99
112.42
112.96
112.96
126.21
112.01
112.68
112.67
127.55
112.82
113.07
113.06
128.83
113.19
113.83
113.82
129.56
113.77
113.89
113.88
130.54
114.28
114.23
114.22
132.08
115.18
114.68
114.67
dollar output multiplied by 100. Percent changes from preceding period for items in this table are shown in table
8.1. (Contributions to the percent change in real gross domestic product are shown in table 8.2).
SURVEY OF CURRENT BUSINESS
D-18 • National Data
November 1998
Table 7.2.—Quantity and Price Indexes for Gross Domestic Product,
Final Sales, and Purchases
Table 7.4.—Chain-Type Quantity and Price Indexes for Personal
Consumption Expenditures by Major Type of Product
[Index numbers, 1992=100]
[Index numbers, 1992=100]
Seasonally adjusted
1996
Gross domestic product:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Final sales of domestic
product:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Gross domestic purchases:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Final sales to domestic
purchasers:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Addenda:
Chain-type price indexes for
gross domestic purchases:
Energy
Gross domestic purchases
less food and energy
1997
Seasonally adjusted
1998
1997
1996
II
III
IV
I
II
III
129.89
116.42
111.57
111.57
129.13
115.89
111.45
111.43
130.85
117.08
111.77
111.76
132.19
117.94
112.09
112.08
134.27
119.54
112.33
112.32
135.17
120.09
112.57
112.56
136.55
121.06
112.80
112.79
122.32
111.61
109.59
109.59
128.95
115.49
111.66
111.66
127.94
114.72
111.53
111.52
130.12
116.33
111.87
111.85
131.19
116.95
112.19
112.17
132.89
118.20
112.45
112.43
134.69
119.54
112.69
112.67
135.76
120.23
112.94
112.92
123.57
113.18
109.18
109.18
123.20
112.78
109.24
109.23
130.77
117.89
110.92
110.92
129.84
116.97
111.00
111.00
129.90
117.30
110.76
110.74
128.72
116.14
110.84
110.83
131.74
118.63
111.06
111.05
131.02
117.89
111.15
111.14
133.14
119.57
111.34
111.35
132.14
118.59
111.44
111.43
135.61
121.85
111.29
111.29
134.23
120.51
111.40
111.39
137.07
123.03
111.42
111.42
136.60
122.49
111.53
111.52
138.59
124.24
111.55
111.56
137.81
123.41
111.68
111.67
108.82 111.24 110.87 111.62 111.95 112.18 112.50 113.18
106.94 107.69 106.24 106.54 107.09 100.84 98.80 97.17
109.35 111.05 110.98 111.23 111.49 111.69 111.88 112.04
Table 7.3.—Quantity and Price Indexes for Gross National Product and
Command-Basis Gross National Product
[Index numbers, 1992=100]
12268
11204
109.51
109.50
12953
116.16
111.51
111.52
12888
11573
111.39
111.37
13048
11681
111.72
111.70
131 64
11751
112.04
112.03
133.79
119.18
112.28
112.26
13463
119.67
112.51
112.50
13832 15543 15505 15877 158.99 158.60 156.14
14087 16036 16028 16429 16*67 16677 16508
112.35 116.77 116.38 117.50 118.22 120.19 120.78
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
II
III
1998
IV
I
II
III
Chain-type quantity indexes
122.69
112.02
109.54
109.53
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
Gross national product:
Current dollars
Chain-type quantity index ....
Chain-type price index
Implicit price deflator
Less: Exports of goods and
services and receipts of
factor income:
Chain-type quantity index
Plus: Command-basis exports
of goods and services and
receipts of factor income:
Chain-type quantity index
Equals: Command-basis gross
national product:
Chain-type quantity index
1997
1997
Personal consumption
expenditures
Durable goods
Motor vehicles and parts
Furniture and household
equipment
Other
Nondurable goods
Food
Clothing and shoes .
Gasoline and oil
Fuel oil and coal
Other
..
Services
Housing
Household operation
Electricity and gas
Other household operation
Transportation
Medical care
Other
Chain-type price indexes
Personal consumption
expenditures
Durable goods
Motor vehicles and parts
Furniture and household
equipment
Other
Nondurable goods . .
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services
Housing
Household operation
Electricity and gas
Other household operation
Transportation
. ..
Medical care
Other
Addenda:
Price indexes for personal
consumption expenditures:
Food ]
Energy
Personal consumption
expenditures less food
and energy
112.62 116.44
115.47 117.23 118.04 119.79 121.58 122.74
128.16 136.86
113.58 115.66
133.82 139.12 140.17 145.39 149.30 149,31
146.55 162.50
126.88 138.41
109.77 112.44
160.39 165.15 168.01 177.34 179.20 185.63
136.37 139.26 141.74 146.43 150.12 151.75
104.94
122.43
108.80
102.90
111.88
111.09
108.36
117.40
110.73
122.35
126.86
106.17
112.52
105.96
127.87
110.59
93.96
116.99
114.61
110.92
121.36
108.85
130.63
134.28
108.52
117.02
111.56 118.15 117.33 119.77 125.13 120.05
111.75 113.16 113.05 115.09 116.57 117.24
105.66
125.62
110.97
95.72
116.01
106.15
129.44
111.08
97.69
118.25
106.06
129.62
110.79
92.27
118.17
107.10
136.29
111.18
84.48
120.30
108.54
138.07
111.10
89.08
122.06
108.79
138.33
114.00
91.63
123.17
113.87 115.19 116.41 117.42 118.98 120.58
110.56
119.96
108.89
128.16
133.30
108.03
115.97
111.24
122.87
109.94
132.46
135.22
108.90
117.63
111.93
125.31
111.09
135.87
136.61
109.70
119.29
112.67
123.38
103.67
138.04
137.85
110.55
121.58
113.28
127.48
110.13
140.42
140.09
111.60
123.53
113.95
130.33
114.15
142.42
140.15
112.18
126.85
109.75 111.81
102.75 100.66
112.72 112.65
111,63 112.00 112.30 112.30 112.55 112.82
88.20
103.41
107.69
111.67
96.39
107.33
109.60
108.30
116.61
115.66
108.65
108.79
108.68
113.23
120.18
117.91
88.66 87.57 86.75 85.92 85.14
83.56
103.24 103.34 102,92 103.29 102.74 102.21
92.25
104.60
106.08
109.02
96.21
107.34
108.61
107.04
113.32
112.34
107.91
106.34
109.04
110.85
117.51
112.99
100.96 100.23
99.62
99.27
98.72
98.08
112.96 112.31 111.88 111.79 111.55 112.18
107.52 107.72 107,95 107.35 107.41 107.80
111.25
97.28
104.61
109.61
108.57
112.10
96.20
106.11
105.38
108.26
112.45 112.74 113.10 113.88
96.00 94.68 94.84 94.79
106.60 98.05 94.17 92.19
106.02 103.44 101.20 98.32
108.52 109.36 110.06 110.90
116.30 117.04 117.59 118.00 118.55 118.99
115.23
108.65
108.10
109.11
113.16
119.91
117.52
116.11
108.31
108.38
108.38
113.32
120.52
118.77
117.00
108.33
109.12
107.95
114.06
120.95
119.28
117.90
106.96
105.69
107.80
114.51
121.92
119.45
119.00
107.19
105.76
108.12
114.35
122.54
119.78
119.92
106.73
104.86
107.92
114.09
123.13
120.20
109.02 111.67
106.92 108.13
111.25 112.10 112.45 112.74 113.10 113.88
106.50 107.17 107.79 101.89 99.93 98.44
110.09 112.10
112.05 112.32 112.59 112.89 113.25 113.55
1. Consists of prices for gasoline and oil, fuel oil and coal, and electricity and gas.
National Data • D-19
SURVEY OF CURRENT BUSINESS
November 1998
Table 7.6.—Chain-Type Quantity and Price indexes for Private Fixed
Investment by Type
[Index numbers, 1992=100]
Table 7.9.—Chain-Type Quantity and Price Indexes for Exports and Imports of Goods and Services and for Receipts and Payments of Factor Income
[Index numbers, 1992=100]
Seasonally adjusted
1996
1997
II
Chain-type quantity indexes
Private fixed
investment
Nonresidential
Structures
Nonresidential buildings,
including farm
Utilities
Mining exploration, shafts,
and wells
;
Other structures
Producers' durable
equipment
Information processing and
related equipment
Computers and
peripheral equipment 1
Other
Industrial equipment
Transportation and related
equipment
Other
Residential
Structures
Single family
Multifamily
Other structures
Producers' durable
equipment . .
Chain-type price indexes
Private fixed
investment
Nonresidential
Structures
Nonresidential buildings,
including farm
Utilities .
Mining exploration, shafts,
and wells
Other structures . ..
Producers' durable
equipment
Information processing and
related equipment
Computers and
peripheral equipment *
Other
Industrial equipment
Transportation and related
equipment
Other
Residential
Structures
Single family
Multifamily
Other structures
Producers' durable
equipment
IV
I
II
139.21 154.04 152.04 158.13 158.86 167.04 172.15 171.74
112.16 120.09 117.81 121.29 121.56 120.06 119.36 117.37
124.58 132.99 130.56 134.27 132.12 132.62 132.32 129.25
80.67 83.31 82.91 84.35 84.59 84.77 85.64 86.42
114.88 134.77 132.50 139.96 141.90 134.72 127.70 127.50
67.12 70.12 61.85 63.73 95.34 68.64 67.01 65.75
151.75 170.04 168.20 175.62 176.58 190.08 198.43 198.96
182.88 222.13 214.73 232.17 239.04 263.41 280.84 295.25
344.37 488.82 463.97 523.22 552.78 664.79 754.21 825.09
127.94 140.28 137.09 144.09 145.72 151.52 154.79 158.35
134.93 140.93 141.48 143.00 144.03 147.28 148.36 149.60
148.11 162.83 163.01 169.27 166.94 185.27 194.89 181.46
131.86 142.95 142.26 146.25 144.39 152.09 157.63 159.28
122.32 125.36 125.26 125.14 127.64 132.34 137.05 139.33
122.37
117.24
142.79
126.61
125.33
117.72
154.04
131.79
125.24
117.77
155.40
131.29
125.07
116.78
149.30
133.12
127.62
119.34
160.01
134.47
132.34
124.67
169.09
137.71
137.10
129.88
158.07
144.15
1996
III
134.10 145.25 143.85 147.98 149.28 156.36 161.36 161.83
139.43
133.51
151.85
145.92
120.47 126.88 126.48 128.14 128.56 132.40 135.23 135.43
Chain-type quantity indexes
Exports of1 goods and services
Goods
Durable
Nondurable
Services 1
Receipts of factor income
Imports of1 goods and services
Goods
Durable
Nondurable
Services l
Payments of factor income
Chain-type price indexes
Exports of1 goods and services
foods
Durable
Nondurable
Services l
Receipts of factor income
Imports of1 goods and services
Goods
Durable
Nondurable
.'.
Services1
Payments of factor income
134.50
140.28
154.24
114.58
121.50
1997
1997
151.70
161.92
184.30
122.31
129.48
1998
II
III
IV
I
II
III
150.70
160.28
182.32
121.24
129.77
154.53
165.07
189.57
122.04
131.64
156.21
168.25
192.15
126.07
130.32
155.12
166.82
192.06
122.56
129.91
152.03
161.87
184.87
121.32
130.46
150.92
161.70
185.15
120.42
127.57
155.75 172.59 174.78 178.10 172.29 174.77 174.79
145.19
151.36
165.01
127.72
118.65
165.35
173.56
192.73
141.26
130.39
163.72
172.05
190.29
141.14
128.32
169.00
177.43
196.63
144.99
133.11
171.59
180.19
201.07
145.23
135.01
177.95
187.38
209.81
149.97
138.03
181.97
192.49
215.18
154.59
137.82
183.49
194.61
217.53
156.32
137.06
158.39 189.82 187.25 196.25 197.50 196.82 199.34
101.60 99.53 99.76 99.36 98.97 98.13 97.68 96.96
98.23 94.75 94.98 94.54 93.89 92.78 92.07 91.15
90.86 87.10 87.30 86.84 86.23 85.69 85.23 84.61
116.14 113.58 113.90 113.58 112.85 109.99 108.54 106.74
110.24 112.18 112.41 112.11 112.53 112.52 112.84 112.72
109.65 111.56 111.34 111.70 112.09 112.16 112.27
99.36 95.72 95.66 95.16 94.62 92.05 90.98 89.86
98.10 93.94 93.76 93.32 92.81 90.07 88.72 87.45
93.34 88.29 88.55 88.14 87.33 86.02 85.01 83.94
108.67 106.63 105.41 104.91 105.15 98.99 96.82 95.05
105.93 105.33 105.95 105.10 104.40 102.85 103.52 103.37
111.06 113.61 113.47 113.74 114.15 114.23 114.46
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.
104.68 104.45 104.40 104.50 104.37 103.81 103.33 102.82
101.46 100.15 100.28 100.04
99.64
98.90
98.12
97.22
114.33 118.22 117.59 118.83 119.79 120.58 121.49 121.70
114.14 117.79 117.02 118.41 119.57 120.29 121.38 122.13
114.03 116.62 116.72 1-17.05 116.73 117.13 117.36 117.91
118.62 126.85 126.26 127.82 128.91 131.00 131.83 126.67
111.73 115.51 115.11 115.87 117.39 117.66 117.60 118.09
96.80
93.88
94.23
93.54
92.75
91.57
90.35
89.18
77.17
69.31
70.19
68.31
66.63
64.12
61.49
58.96
49.18
28.40 25.74
37.75 38.86 36.25 34.25 31.23
99.56 99.14 99.19 99.24 98.84 98.58 98.04 97.71
109.26 110.12 109.95 110.17 110.46 110.52 110.77 110.82
107.53 108.35 108.15 108.87 108.37 107.99 107.91 108.04
108.17 109.15 109.19 109.01 109.34 109.84 109.97 110.34
113.03 115.96 115.35 116.50 117.20 117.21 117.71 118.37
113.27
116.50
108.70
109.64
116.29
119.90
112.20
112.11
115.66
119.14
111.53
111.63
116.85
120.52
112.79
112.59
117.58
121.36
113.49
113.19
117.58
121.04
113.25
113.59
118.10
121.45
113.62
114.27
118.76
122.18
114.31
114.85
103.97 104.03 104.12 103.54 103.18 103.92 103.41 103.92
1. Includes new computers and peripheral equipment only.
III
Seasonally adjusted
1998
1997
D-20 • National Data
SURVEY OF CURRENT BUSINESS
November
Table 7.10.—Chain-Type Quantity and Price Indexes for Exports and Imports of Goods and Services by Type of Product
[Index numbers, 1992=100]
Seasonally adjusted
Seasonally adjusted
1996
1997
1997
II
Chain-type quantity indexes
Exports of goods and
services
Exports of goods 1
Foods, feeds, and beverages
Industrial supplies and
materials
Durable goods
Nondurable goods
Capital goods, except
automotive
Civilian aircraft, engines,
and parts
Computers, peripherals, and
parts
Other
Automotive vehicles, engines,
and parts
Consumer goods, except
automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Exports of services l
Transfers under U.S. military
agency sales contracts
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Other
.
, .
Imports of goods and
services
Imports of goods l
Foods, feeds, and beverages
Industrial supplies and
materials, except petroleum
and products
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except
automotive
Civilian aircraft, engines,
and parts
Computers, peripherals, and
parts
Other
Automotive vehicles, engines,
and parts
Consumer goods, except
automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable ooods
Imports of services 1
Direct defense expenditures ...
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Other
Addenda:
Exports of2 agricultural
goods
Exports of nonagricultural
goods
Imports of nonpetroleu.m
ooods .
NoiE.-See footnotes to table 4.3.
III
1996
1998
IV
I
II
134.50 151.70 150.70 154.53 156.21 155.12 152.03 150.92
140.28 161.92 160.28 165.07 168.25 166.82 161.87 161.70
108.86 108.86 103.88 104.84 117.42 112.93 103.30 102.52
116.03 126.02 126.59 127.73 128.26 126.37 124.42 122.99
121.61 132.60 133.30 133.37 136.26 139.53 133.62 130.90
113.08 122.56 123.05 124.76 124.05 119.48 119.62 118.87
176.54 220.70 216.65 229.84 232.10 230.31 221.33 228.98
71.57
92.90
88.08
95.72
97.25 108.63
99.20 125.23
341.06 500.14 497.43 542.94 529.93 508.13 518.86 545.25
185.56 221.55 218.13 228.74 232.61 226.64 217.43 213.00
132.62 149.78 148.64 151.26 154.96 157.10 146.00 129.31
130.80
131.20
130.37
112.14
112.15
112.14
143.37
144.74
141.93
129.34
129.34
129.33
145.02
146.94
143.01
128.64
128.64
128.64
143.24
146.08
140.26
130.34
130.34
130.33
145.41
146.71
144.04
133.18
133.18
133.18
144.58
145.75
143.35
133.29
133.29
133.29
148.30
147.63
148.97
137.45
137.45
137.45
148.16
148.68
147.60
136.34
136.35
136.34
121.50 129.48 129.77 131.64 130.32 129.91 130.46 127.57
120.86
114.83
111.77
107.65
149.47
131.69
108.25
148.15
116.82
118.43
111.02
150.73
150.52
107.75
158.28
118.57
114.82
111.08
150.81
148.60
107.60
162.54
117.01
116.43
111.13
153.42
155.06
108.04
137.13
114.80
122.84
112.39
149.34
156.81
108.17
153.02
114.23
122.28
111.43
147.50
153.83
108.35
133.79
114.53
127.59
110.38
150.86
157.10
108.42
141.33
104.88
114.96
114.00
151.99
157.40
108.45
145.19 165.35 163.72 169.00 171.59 177.95 181.97 183.49
151.36 173.56 172.05 177.43 180.19 187.38 192.49 194.61
116.82 128.72 127.80 131.31 131.58 138.43 138.70 137.23
138.73
146.44
131.61
123.73
150.31
157.94
143.27
129.39
149.41
156.40
142.97
131.97
152.87
159.28
147.00
133.93
154.60
164.62
145.31
129.65
161.33
171.48
151.91
132.43
166.75
182.43
152.05
144.40
171.92
189.23
155.66
140.94
220.93 278.05 273.38 286.75 295.47 308.05 316.31 321.23
88.71 111.94 105.50 127.70 121.20 119.07 149.04 151.64
384.26 515.96 507.51 542.54 546.41 593.05 623.78 634.35
197.28 241.80 238.66 244.71 256.88 265.09 263.60 267.47
129.38 140.97 139.63 141.80 140.64 147.58 145.91 142.18
134.86
135.69
133.96
124.04
124.04
124.04
153.94
152.86
155.06
143.99
143.99
143.99
152.68
151.63
153.78
141.54
141.54
141.54
156.43
154.92
158.01
149.71
149.71
149.71
161.90
160.95
162.89
152.39
152.39
152.39
168.17
168.64
167.69
154.04
154.04
154.04
175.70
177.35
173.98
155.65
155.65
155.65
176.86
178.64
175.02
170.69
170.69
170.69
118.65 130.39 128.32 133.11 135.01 138.03 137.82 137.06
74.40
113.87
141.93
102.33
141.07
155.65
107.70
84.16
122.50
154.42
110.19
166.13
176.15
112.75
78.23
120.58
157.15
111.30
153.43
172.65
110.81
88.07
123.34
157.21
110.41
180.51
181.45
115.18
91.30
125.49
153.25
113.78
181.22
184.40
114.22
98.95
131.26
154.12
113.68
202.68
180.90
116.08
94.55
131.60
155.69
114.09
175.60
186.59
116.05
1997
92.02
131.82
149.93
114.26
175.01
186.07
117.42
110.09 111.85 108.13 110.41 118.52 115.46 108.01 107.42
143.96 168.32 166.97 172.10 174.59 173.38 168.77 168.66
153.95 178.06 176.07 181.83 185.39 193.04 197.57 200.15
1997
II
III
Chain-type price indexes
Exports of goods and
services
Exports of goods l
Foods, feeds, and beverages
Industrial supplies and
materials
Durable goods
Nondurable goods
Capital goods, except
automotive
Civilian aircraft, engines,
and parts
Computers, peripherals, and
parts
Other
Automotive vehicles, engines,
and parts
. . . .
Consumer goods, except
automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Exports of services 1
Transfers under U.S. military
agency sales contracts
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Other
Imports of goods and
services
Imports of goods l
Foods, feeds, and beverages
Industrial supplies and
materials, except petroleum
and products
Durable goods
. . . .
Nondurable goods
Petroleum and products
Capital goods, except
automotive
Civilian aircraft, engines,
and parts . .
Computers, peripherals, and
parts
Other
Automotive vehicles, engines,
and parts
Consumer goods, except
automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Imports of services l
Direct defense expenditures ...
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Other
t
Addenda:
Exports of2 agricultural
goods
Exports of nonagricultural
goods
Imports of nonpetroleum
goods .
III
1998
IV
I
II
III
101.60
99.53
99.76
99.36
98.97
98.13
97.68
96.96
98.23
94.75
94.98
94.54
93.89
92.78
92.07
91.15
126.48 117.30 119.30 116.76 114.31 109.56 107.87 106.16
115.71 115.23 115.29 115.59 114.60 111.90 110.29 108.00
113.74 112.74 113.28 113.34 111.17 109.79 109.01 107.50
116.78 116.60 116.38 116.82 116.52 113.02 110.89 108.14
81.44
75.99
76.16
75.52
74.93
74.40
73.93
73.28
114.05 118.02 117.49 118.43 118.73 119.11 119.52 119.46
44.57
87.85
34.31
84.26
34.50
84.44
33.04
84.19
32.01
83.85
30.94
83.57
29.83
83.41
28.51
83.20
104.25 105.10 105.14 105.18 105.17 105.17 105.16 105.22
104.27
102.72
105.94
103.62
103.62
103.62
105.05
103.71
106.48
100.84
100.84
100.84
104.87
103.76
106.07
101.03
101.04
101.04
105.18
103.77
106.70
100.65
100.65
100.65
105.32 105.35 104.98 104,86
103.91 103.79 103.22 103.17
106.84 107.04 106.88 106.68
100.50 99.46 99.01 97.97
100.48 99.43 98.99 97.95
100.48 99.43 98.99 97.95
110.24 112.18 112.41 112.11 112.53 112.52 112.84 112.72
111.11
110.96
109.90
105.87
109.70
107.89
124.01
108.28
114.57
106.17
106.20
111.61
109.51
134.50
109.92
114.27
108.78
106.10
111.40
109.39
135.32
107.00
114.43
107.75
105.34
111.76
109.58
134.33
105.95
115.87
105.11
106.11
112.15
110.05
135.34
107.77
116.46
105.51
102.90
112.22
110.12
135.46
99.36
95.72
95.66
95.16
94.62
92.05
90.98
89.86
98.10
93.94
93.76
93.32
92.81
90.07
88.72
87.45
107.67
117.86
102.80
102.85
112.33
110.35
137.30
102.46
118.32
102.08
102.61
112.52
110.46
138.86
110.73 111.70 112.96 111.82 110.85 109.24 109.13 107.31
109.59
110.05
109.23
113.98
109.45
112.02
106.97
107.54
108.64
112.49
104.88
103.90
109.39
112.91
105.95
101.78
77.23
68.09
68.54
67.72
109.15 106.32 105.09 103.17
111.40 109.30 108.11 105.97
106.99 103.40 102.12 100.44
102.62 80.40 72.43 67.76
66.63
64.90
63.58
62.46
113.54 117.86 117.43 118.31 118.78 119.41 119.73 119.60
50.52
87.24
42.92
76.94
43.71
77.14
42.24
76.79
40.78
75.96
38.37
74.81
36.12
74.27
35.03
73.20
108.57 108.80 108.44 108.87 109.25 109.24 109.01 108.53
103.44
103.06
103.87
107.71
107.71
107.71
102.24
100.86
103.76
107.14
107.14
107.14
102.36
101.00
103.85
107.01
107.01
107.01
102.12
100.59
103.80
107.05
107.05
107.05
101.85
99.99
103.88
106.90
106.90
106.90
101.45
99.22
103.89
106.26
106.26
106.26
100.92
98.38
103.68
107.03
107.03
107.03
100.49
97.60
103,65
106.41
106.41
106.41
105.93 105.33 105.95 105.10 104.40 102.85 103.52 103.37
107.65
109.45
105.59
106.46
109.71
99.56
110.59
98.67
108.45
111.88
104.30
111.64
99.33
111.47
99.65
109.83
112.47
104.39
111.40
99.60
111.92
96.36
108.49
113.43
103.47
111.76
99.03
111.32
96.66
106.03
112.74
103.10
112.15
99.48
110.86
91.97
104.17
112.26
100.30
112.22
99.14
109.98
93.35
104.80
112.56
101.87
112.33
99.33
110.87
95.90
102.99
114.46
102.65
112.52
98.93
110.31
126.79 118.59 120.07 117.75 116.08 111.07 109.55 107.34
95.59
92.49
92.63
92.34
91.77
90.94
90.30
89.47
96.95
92.97
93.08
92.79
92.21
90.88
90.02
89.00
D-21
National Data
SURVEY OF CURRENT BUSINESS
November 1998
Table 7.11.—Chain-Type Quantity and Price Indexes for Government Consumption Expenditures and Gross Investment by Type
[Index numbers, 1992=100]
Seasonally adjusted
Seasonally adjusted
1996
1997
1997
II
Chain-type quantity indexes
Government consumption
expenditures1 and gross
investment
Federal
National defense
Consumption expenditures
Durable goods 2
Nondurable goods
Services
Compensation of
general government
employees, except
force-account
construction3
Consumption of
general government
fixed capital4
Other services
Gross investment
Structures
Equipment
Nondefense
Consumption expenditures
Durable goods2
Nondurable goods
Commodity Credit
Corporation
inventory change
Other nondurables
Services
Compensation of
general government
employees, except
force-account3
construction
Consumption of
general government
fixed capital4
Other services
Gross investment
Structures
Equipment
State and local . .
Consumption expenditures
Durable goods 2
Nondurable goods .
Services
Compensation of general
government
employees, except
force-account
construction3
Consumption of general
government fixed
capital4
Other services
Gross investment
Structures
Equipment
Addenda:
Compensation of general 3
government employees ....
Federal
State and local
III
1996
1998
IV
I
II
88.19
86.75
87.20
86.92
86.46
84.50
86.00
85.63
84.93
86.52
69.11
74.08
88.76
82.20
85.20
67.69
73.78
87.41
82.94
86.40
71.11
72.30
88.48
82.56
85.20
63.92
75.60
87.72
82.15
84.48
68.51
73.04
86.55
78.06
80.68
66.85
70.67
82.50
79.93
83.25
68.76
70.54
85.21
80.75
83.01
74.07
77.76
84.25
81.87
78.91
79.08
78.87
77.81
77.29
76.52
76.60
93:02 93.31 92.78
98.89 102.16 100.20
65.05 63.11 67.53
86.49 84.72 86.11
62.69 60.72 65.51
92.18
98.45
68.89
85.60
67.11
91.52
85.52
63,03
81.96
60.95
90.92
96.98
60.76
73.21
59.47
90.26
93.87
67.97
81.34
66.59
96.03
95.94
97.64
97.99
97.39
98.21
97.36
97.82
96.79
98.17
99.83 100.48
98.96 101.14
97.28
97.66
76.41
95.98
86.09
97.40
85.19
97.61
86.27
97.38
90.44
97.28
91.27
97.95
92.77
99.91
92.00
99.80
90.45
89.88
90.60
90.11
88.53
89.68
90.69
91.01
95.00
96.76
75.98
105.23
72.72
114.30 118.62 118.13 119.13 120.19
101.32 105.56 105.02 105.02 107.23
96.78 95.18 91.52 94.22 86.82
89.17 71.25
93.56 83.49 83.11
101.09 110.14 102.23 100.36 107.12
109.09
108.82
117.92
116.69
107.72
112.42
111.38
122.03
120.55
110.11
112.01
111.01
121.62
120.13
109.74
112.82
111.78
122.60
120.95
110.50
113.19
112.41
123.36
122.00
111.08
121.32 122.27 126.31
106.99 110.76 109.16
106.68 95.76 94.74
85.90 83.93 88.48
133.92 110.55 101.45
113.77
113.12
124.47
122.94
111.76
114.28
113.86
125.59
123.88
112.48
115.18
114.57
126.71
124.83
113,14
106.09 107.91 107.66 108.26 108.65 109.07 109.68 110.20
113.04
129.70
110.31
106.31
129.43
117.41
139.74
117.11
111.88
142.55
116.83
137.55
116.55
111.52
140.85
117.97
140.80
117.49
111.95
144.55
119.13
144.16
116.72
110.52
147.45
120.31
149.08
116.71
109.60
152.56
121.50
151.07
116.15
108.20
156.83
122.70
153.76
117.95
109.52
161.35
99.35 99.90 99.85 100.16 100.00 100.29 100.64 101.05
81.33 81.51
84.75 82.61 82.97 82.68 81.42 81.48
106.12 107.98 107.73 108.33 108.71 109.11 109.70 110.23
1. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
2. Consumption expenditures for durable goods excludes expenditures classified as investment, except for goods
transferred to foreign countries by the Federal Government.
3. Compensation of government employees engaged in new force-account construction and related expenditures
II
III
100.35 101.68 101.63 101.99 102.01 101.53 102.45 102.82
1997
1997
Chain-type price indexes
Government consumption
expenditures and gross
investment *
Federal
National defense
Consumption expenditures
Durable goods2
Nondurable goods
.=...
Services
Compensation of
general government
employees, except
force-account3
construction
Consumption of
general government
fixed capital4
Other services
Gross investment
Structures
Equipment
Nondefense
Consumption expenditures
Durable goods 2
Nondurable goods
Commodity Credit
Corporation
inventory change
Other nondurables
Services
Compensation of
general government
employees, except
force-account
construction3
Consumption of
general government
fixed capital4
Other services
Gross investment
Structures
Equipment
State and local
Consumption expenditures
Durable goods2
Nondurable goods
Services
Compensation of general
government
employees, except
force-account3
construction
Consumption of general
government
fixed
capital4
Other services
Gross investment
Structures
Equipment
Addenda:
Compensation of general 3
government employees ....
Federal
State and local
III
1998
IV
I
II
III
110.80 113.20 113.01 113.24 113.87 114.17 114.39 114.70
111.35 113.58 113.57 113.52 113.91 114.66 114.66 114.69
109.98
109.95
101.43
108.83
110.76
112.00
112.45
101.39
106.50
113.61
112.01
112.38
101.41
105.60
113.55
111.90
112.38
101.64
103.41
113.59
112.23
112.86
101.05
104.81
114.13
113.04
113.74
101.27
97.81
115.30
113.12
113.88
100.78
95.53
115.57
113.17
114.18
100.45
93.73
115.98
114.17 118.01 117.99 117.88 118.43 120.65 120.72 120.71
110.37
105.81
110.08
121.69
108.74
111.51
108.31
108.78
126.09
106.61
111.94
107.92
109.39
125.93
107.31
111.36
108.55
108.41
126.85
106.07
111.36
109.41
107.72
126.60
105.33
111.45
109.72
108.04
126.74
105.67
111.06
110.72
107.59
127.27
105.08
111.18
111.91
105.91
128.09
103.09
114.57 117.27 117.21 117.32 117.83 118.46 118.30 118.30
116.47 119.76 119.68 119.84 120.42 121.20 121.12 121.22
112.67 112.06 112.47 112.55 112.30 111.36 110.86 110.94
117.06 120.57 120.47 120.63 121.24 122.14 122.09 122.34
126.58 131.80 131.59 131.65 132.70 134.30 134.06 134.23
104.30
106.59
102.45
113.01
91.73
104.37
108.69
101.35
116.95
86.56
104.49
108.69
101.45
116.40
87.16
104.13
109.08
101.18
117.46
85.82
104.62
109.16
101.29
118.82
84.99
104.48
109.44
100.98
120.10
83.67
104.27 104.05
109.65 110.10
100.29 99.61
120.56 121.32
82.23 80.41
110.48
110.33
106.40
109.37
110.53
112.96
112.86
106.77
108.52
113.53
112.68
112.54
106.49
108.18
113.21
113.07
112.98
106.91
107.49
113.80
113.83
113.71
107.29
107.73
114.60
113.89
113.76
107.40
104.14
115.10
114.23
114.18
107.43
103.87
115.63
114.68
114.69
107.71
103.07
116.30
112.05 114.99 114.66 115.30 115.97 116.68 117.36 118.07
108.86 110.45 110.34 110.47 111.19 111.13 111.08 111.27
88.84 94.83 94.30 94.78 97.37 96.11 95.48 96.31
111.18 113.46 113.35 113.53 114.37 114.51 114.49 114.66
113.90 117.75 117.47 117.99 119.27 119.82 120.13 120.68
100.17 96.79 97.29 96.23 95.57 94.35 93.28 92.29
113.78 117.09 116.82 117.28 117.97 119.00 119.50 120.05
118.25 122.57 122.48 122.43 123.15 125.15 125.10 125.16
112.06 115.00 114.67 115.31 115.99 116.69 117.37 118.09
for goods and services are classified as investment in structures. The compensation of all general government employees is shown in the addenda.
4. Consumption of fixed capital, or depreciation, is included in government consumption expenditures as a partial
measure of the value of the services of general government fixed assets; use of depreciation assumes a zero net
return on these assets.
D-22 • National Data
SURVEY OF CURRENT BUSINESS
November
Table 7.14.—Chain-Type Quantity and Price indexes for Gross Domestic
Product by Sector
Table 7.16.Hmplicit Price Deflators for Inventories of Business by
Industry Group
[Index numbers, 1992=100]
[Index numbers, 1992=100]
Seasonally adjusted
1996
1997
1997
II
Chain-type quantity indexes
Gross domestic
product
Business1
Nonfarm l
Nonfarm less housing
Housing
Farm
Households and institutions ...
Private households
Nonprofit institutions
General government2
Federal
State and local
Chain-type price indexes
Gross domestic
product
Business 1
Nonfarm l
Nonfarm less housing
Housina .
Farm
Households and institutions ...
Private households
Nonprofit institutions
General government2
Federal
State and local
III
Seasonally adjusted
1998
IV
I
1997
II
l
112.02
113.87
114.12
114.81
108.38
97.50
111.72
104.40
112.00
100.02
87.71
106.75
116.42 115.89
118.91 118.30
119.02 118.39
119.95 119.26
111.29 111.20
112.04 112.60
115.20 114.74
101.12 101.81
115.74 115.23
100.66 100.60
85.80 86.11
108.83 108.55
117.94 119.54
120.66 122.53
120.81 122.66
121.90 124.02
111.81 111.60
110.25 113.12
116.49 117.06
99.38 97.46
117.15 117.82
100.91 100.81 101.10
85.82 84.75 84.71
109.20 109.64 110.12
120.09
123.11
123.25
124.56
112.58
113.40
117.43
98.19
118.17
101.44
109.54
108.98
108.89
108.48
112.46
116.63
110.67
113.41
110.57
113.12
116.04
111.76
111.57
110.89
111.06
110.54
115.66
99.93
112.42
117.56
112.24
116.12
111.77
111.11
111.32
110.78
116.07
97.13
112.50
118.17
112.30
116.28
112.33
111.52
111.83
111.16
117.76
91.17
113.59
120.13
113.36
117.80
121.38
116.16
112.57
111.66
111.96
111.19
118.79
92.03
115.33
121.10
115.13
118.19
121.25
116.77
111.45
110.78
110.91
110.42
115.26
102.08
112,37
116.77
112.22
115.92
119.48 119.51
114.57 114.26
117.08
119.65
119.70
120.70
111.50
116.25
115.79
100.63
116.38
112.09
111.38
111.60
111.01
116.81
96.93
112.88
119.63
112.64
116.92
119.33 119.89
114.85 115.53
121.06
124.20
124.32
125.62
113.62
115.98
118.02
98.78
118.77
101.86
84.51 84.65
110.76 111.34
112.80
111.81
112.18
111.33
119.76
87.31
116.55
122.21
116.35
118.68
121.31
117.43
1. Gross domestic business product equals gross domestic product less gross product of households and institutions, and of general government. Gross nonfarm product equals gross domestic business product less gross farm
product.
2. Equals compensation of general government employees plus general government consumption of fixed capital.
Table 7.15.—Current-Dollar Cost and Profit Per Unit of Real Gross
Domestic Product of Nonfinancial Corporate Business
[Dollars]
Current-dollar cost and
profit per unit of real
gross domestic
product l , . .
Consumption of fixed capital
Net domestic product . . .
Indirect business tax and
nontax liability plus
business transfer payments
less subsidies . .
Domestic income
Compensation of
employees
Corporate profits with
inventory valuation and
capital consumption
adjustments
Profits tax liability
Profits after tax with
inventory valuation
and capital
consumption
adjustments
Net interest
1.056
.100
.956
1.063
.100
.963
1.063
.100
.963
1.063
.100
.963
1.063
.100
.963
1.061
.099
.962
1.061
.100
.962
105
850
105
857
106
857
105
858
105
858
105
.858
104
.857
.685
.691
.691
.688
.695
.697
.699
140
039
143
041
143
040
147
042
141
040
139
.037
136
.037
.101
.026
.102
.023
.102
,024
.104
.023
.101
.022
.102
.022
.099
.022
1. Equals the deflator for gross domestic product of nonfinancial corporate business with the decimal point shifted
two places to the left.
II
III
Inventories
Farm .
. . . .
Nonfarm
Durable goods
Nondurable goods
Manufacturing
Durable goods . .
Nondurable goods
Wholesale
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Motor vehicle dealers . .
Other
Nondurable goods
Other
.. .
Durable goods
Nondurable goods
106.02
. . . 102.21
106.43
106.20
106.75
106.37
. 104.57
109.40
105.49
103.68
108.41
105.74
103.94
108.69
103.99
101.97
106.93
106.34
109.36
111.20
107.50
103.25
109.19
116.50
105.50
III
1998
IV
106.27 105.55
101.73 99.58
106.74 106.16
105.99 105.74
107.78 106.74
106.46 106.15
104.43 104.38
109.89 109.13
106.02 105.29
103.48 103.07
110.25 108.97
106.24 105.65
103.74 103.33
110.49 109.57
104.68 103.15
101.77 101.37
109.03 105.72
106.49 106.08
109.15 108.80
111.11 110.44
107.18 107.16
103.79 103.32
110.15 108.48
115.75 115.40
107.30 105.00
I
II
III
104.86
99.90
105.37
105.45
105.29
105.28
103.93
107.53
104.23
102.68
106.70
104.74
102.94
107.74
101.12
101.00
101.08
105.87
108.79
110.42
107.14
102.88
107.33
115.55
103.23
104.33
96.34
105.12
105.06
105.21
104.54
103.34
106.53
103.98
102.21
106.85
104.49
102.47
107,88
100.89
100.52
101.26
106.36
108.78
110.62
106.95
103.90
106.97
115.50
102.72
103.34
89.01
104.74
104.76
104.73
103.90
102.76
105.78
103.41
101.78
106.06
103.92
102.03
107,05
100.41
100.13
100.62
106.49
109.01
111.08106.97
103.94
106.72
115.70
102.27
1. Implicit price deflators are as of the end of the quarter and are consistent with the inventory stocks shown
in tables 5.12 and 5.13.
SURVEY OF CURRENT BUSINESS
November 1998
Table 7.17.—Chain-Type Quantity Indexes for Gross Domestic Product
by Major Type of Product
National Data • D-23
Table 7.18.—Chain-Type Quantity Indexes for Auto Output
[Index numbers, 1992=100]
[Index numbers, 1992=100]
Seasonally adjusted
Seasonally adjusted
1996
1997
1997
II
Gross domestic product
Final sales of domestic
product . .
Change in business
inventories
.-. >.
Goods
Final sales .
Change in business
inventories
Durable goods
Final sales
Change in business
inventories
Nondurable goods
Final sales . ..
Change in business
inventories
Services
Structures
Addenda:
Motor vehicle output
Gross domestic product less
motor vehicle outout
112.02 116.42
115.89
III
1996
1997
98.56
98.92
95.56 101.19 100.64
95.91
87.97
94.86
101.86
98.12
95.09 100.34
95.55
97.46
92.41
1998
IV
I
II
1997
II
III
117.08 117.94 119.54 120.09 121.06
111.61 115.49 114.72 116.33 116.95 118.20 119.54 120.23
116.71 123.56 122.90 124.52 125.68 129.29 127.95 128.88
115.63 120.99 119.65 122.47 122.94 125.51 126.52 126.61
130.65 142.91 142.35 145.00 147.10 153.95 150.48 152.35
127.09 137.89 135.75 141.40 141.97 147.05 148.46 147.98
107.19 110.51 109.79 110.74 111.30 112.85 112.86 113.21
107.67 109.42 108.60 109.57 109.97 110.92 111.67 112.11
108.52 111.36 110.96 111.88 112.61 113.01 114.55 115.57
114.88 119.55 118.65 119.96 120.47 122.03 123.37 124.15
120.00 127.05 121.62 129.15 133.81 130.82 126.99 125.06
111.74 116.06 115.69 116.67 117.40 119.15 119.85 120.92
Auto output
Final sales
Personal consumption
expenditures
New autos
Net purchases of used
autos
Producers' durable equipment
New autos
.
Net purchases of used
autos
Net exports
•.
Exports
Imports
Gross government investment
Change in business
inventories of new and used
autos
New
. .
Used
Addenda:
Domestic1 output of new
autos .
.. ... . .
Sales of imported new autos 2
III
1998
IV
96.83
I
II
III
103.35 105.24 102.08 107.51 104.46 106.90 108.92 105.97
97.93 104.40 96.81
95.26 95.62 90.28 98.73 96.21
119.60 124.47 125.55 125.06 120.99 124.86 118.13 124.24
126.64 125.32 124.93 126.61 118.10 123.90 127.06 114.37
125.81 127.54 127.34 128.25 121.98 126.51 129.83 115.99
122.93 128.69 128.68 128.55 125.58 128.18 131.70 116.44
112.16 110.27 114.88 109.64 109.57 109.74 104.74 89.84
126.62 139.33 139.77 140.27 135.54 148.67 150.41 141.92
103.21 89.31 80.80 92.71 91.78 79.51 96.67 78.17
110.84 110.36 108.04 113.34 110.46 105.39 97.38 106.68
98.05 106.63 103.37 108.62 106.69 115.47 121.68 108.67
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and gross government investment.
Table 7.19.—Chain-Type Quantity Indexes for Truck Output
[Index numbers, 1992=100]
1
Truck output
... 150.72
153.94
Final sales
Personal consumption
127.21
expenditures ..
Producers' durable equipment 187.13
Net exports
15623
Exports
116.46
Imports
Gross government investment 102.20
Change in business
inventories
1. Includes new trucks only.
167.41 158.99 169.26 181.39 180.93 183.04 168.32
166.62 159.20 171.77 176.79 180.63 19882 17860
130.57 122.66 134.74 138.92 14051 15509 14266
209.96 203.84 213.92 220.36 229.67 243.87 229.07
18482 17005 19225 20730 20399 201 28 14735
13435 131.35 14097 13051 13289 11533 11864
122.69 124.99 141.46 112.14 106.46 130.04 91.67
SURVEY OF CURRENT BUSINESS
D-24 • National Data
November
8. Supplementary TablesTable 8.1 .—Percent Change From Preceding Period in Selected Series
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1996 1997
1997
II
Personal consumption expenditures:
Current dollars
Chain-type quantity index
Chain-tvoe orice index
Implicit price deflator
5.4
3.4
1.9
1.9
5.9
3.9
1.9
1.9
5.6
4.0
1.7
1.6
5.4
4.2
1.2
1.2
5.3
3.2
2.0
2.0
5.3
3.4
1.9
1.9
2.7
1.6
1.1
1.1
7.7
6.2
13
14
Durable goods:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
5.3 4.6
6.3 6.8
-.9 -2.0
— 9 -2.0
Nondurable goods:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
4.4
2.4
2.0
2.0
Services:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
5.7
3.0
2.7
2.7
Gross private domestic investment:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Fixed investment:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Nonresidential:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
8.5
8.8
-.3
-.3
8.6
8.8
-.1
-.1
. . .
Structures:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Producers' durable equipment:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Residential:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
4.0
2.4
1.5
1.5
6.2
3.2
2.9
2.9
-5.2
-1 5
-3.4
-3.8
-A
F
—.£.
-.2
—.2
6.1
3.2
2.8
2.8
11.0 19.0
11.3 20.3
-.3 _g
-.3 -i!i
13.5
16.8
-2.8
-2.8
5.9
5.1
.8
.8
7.4
4.7
25
2.5
11.8
14.0
-1.5
-1.9
15.8
17.0
-1.0
-1.0
10.7
7.1
3.4
3.4
-3.1
-6.2
17.2
12.4
8.5 8.7
10.9 12.1
-2.2 -3.0
-2.2 -3.0
18.2
22.8
-3.2
-3.8
9.5
7.4
1.9
1.9
5.2
2.5
2.6
2.6
8.2
6.1
1.9
1.9
123
12X)
.4
.3
4.3
4.3
15.3
18.8
-2.9
-3.0
3.6
-.4
4.0
4.0
6.6 10.5
8.5 12.8
-1.7 -2.0
-1.7 -2.0
13.9
15.5
-1.0
-1.4
10.6
-1.6
-1.6
Exports of goods:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
5.9 11.3
9.7 15.4
-3.5 -3.5
-3.5 -3.5
13.6
17.1
-2.5
-2.9
10.5
12.5
-1.8
-1.8
8.4
6.6
1.8
14.7
11.8
8.4
5.6
2.7
2.7
-2.4
-2.4
c
-A
c
.2
6.3
4.3
1.9
1.9
-!s
8.3 9.2
9.3 10.7
-.9 -1.3
-.9 -1.3
3.3
3.4
.6
3.1
3
r
.C
10.8
11.8
7.8
5.0
2.6
2.6
3.9
2.8
1.1
1.1
8.6
8.9
8.1
8.3
-.2
-.2
-.5
-.9
4.2
3.0
1.1
1.2
1.9
1.5
Exports of goods and services:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Exports of services:
Current dollars
Chain-type quantity index
Chain-type price index
I
II
6.4
5.5
c
2.7
1.8
c
!9
4.1
3.3
.8
.8
7.0
6.1
c
4.9
3.9
1.0
1.0
8.8
4.8
5.9
-1.0
c
!s
6.1
6.1
0
0
14.1
15.8
-1.4
-1.4
5.0
7.4
-2.2
-2.2
5.0
3.5
1.4
1.4
25.2
28.3
-2.3
-2.4
3.0 17.8
3.6 20.4
_5 -2.1
!s
8.7 -2.5
0
11.2
-2.2
-2.2
5.5
5.3
.2
.2
7.4
5.4
1.9
1.9
-6.2
-4.5
-1.8
-1.7
_c
-2.1
11.4
13.4
-1.8
-1.8
.2
1.8
18.6
22.2
-3.0
-3.0
12.8
-3.1
-3.1
-1.6
-1.6
-2.5
-2.5
3.8
2.3
1.5
1.5
7.1
5.5
1.5
1.5
5.1
7.4
-2.2
-2.1
-.8
1.2
-2.0
-2.0
9.3 -4.5
-1.0
-3.6
-3.6
.7 -5.8
4.3 -2.3
g ^.9 -2.3
-6.5
.7
3.1
2.7
13
2.7
.7
3.1
3.3
-1.3
2.2
-5.3
-3.5
10.9
8.2
2.4
2.4
27.6
34.3
-5.0
-5.0
12.5
18.8
-5.2
-5.3
-4.1
15.6
15.6
17.0
15.0
9.2
6.8
2.3
2.3
0
0
2.9 -6.0
4.4 -2.8
1.7
1.7
1.1
-5.1
-5.1
-9.4
-7.7
-1.8
-1.8
-5.7
-2.9
-2.9
-2.9
5.1 -7.9 -14.0
7.9 -3.4 -11.3
-4.4
-1.6
-1.5
-3.4
^3.4
-2.7
-2.7
-4.7
-4.7
-2.5
-4.0
-1.3
-1.2
1.5
0
NOTE.— Contributions to the percent change in real gross domestic product are shown in table 8.2.
II
III
-3.0
-.4
-3.9
•^3.0 -4.0
2.9 -9.0
1.7 -8.6
1.1 -.5
2.7
III
1998
IV
I
2.6
-1.0
1.5
0
Imports of goods and services:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
6.8 9.7 9.9
9.2 13.9 17.9
-2.2 -3.7 -7.1
-2.2 -3.7 -6.8
11.3
13.5
-2.1
-1.9
4.1
6.3
15.7
Imports of goods:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
6.8 9.8 9.7
10.0 14.7 19.4
-29 -4.2 -6.5
-2.9 -4.2 -6.1
11.2
13.1
-1.9
-1.7
12.1
15.8
-3.2
-3.2
Implicit price deflator
Gross domestic product:
Current dollars
Chain-type quantity index
1997
1996 1997
1998
IV
III
Imports of services:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Government consumption expenditures
and gross investment:
Current dollars
Chain-type quantity index
Chain-type price index
ImnliHt nrirp ripftatnr
Federal:
Current dollars
Chain-type quantity index
Chain-type price index
National defense:
Current dollars
Chain-type quantity index
Chain-type price index
Nondefense:
Current dollars
Chain-type quantity index
Chain-type price index
1.8
7.1
5.4
1.6
1.6
9.3
9.9
-.6
-.6
10.9
10.6/j
3.6
1.1
2.5
2.5
3.5
1.3
2.2
2.2
3.4
2.1
1.2
1.2
3
4.6
3.6
.9
1.0
1.8
/;
-1.1
-1.6
2.9
2.9
2.0
2.0
1.9
-1.3
-1.4
-3.2
3.3
3.3
1.8
1.8
1.7
—5
2!2
2.2
4.1
1.7
2.4
2.4
4.7
2.4
2.2
2.2
5.4
3.1
2.2
2.2
2.7
1.3
1.4
1.4
5.4
3.4
1.9
1.9
5.4
3.5
1.9
1.9
5.4
3.6
1.8
1.8
2.2
1.4
.8
.8
-1.4
-1.2
r
—.c.
—.2
9.7 -2.2
9.1 -1.8
c
-.4
!e -.4
-2.3
-2.0
4.4
6.4
-2.2
-1.9
3.0
5.8
-2.6
-2.6
2.4
.1
2.2
2.3
-.7
-2.1
1.4
1.5
3.6
-10.4
-10.4
3.8
17.0
-11.3
-11.3
2.9
9.3
-5.8
-5.8
-.9
-1.9
1.1
1.1
-6.4
-8.8
2.7
2.6
-.7 -16.1
-18.5
1.2
2.9
1.3
2.9
-2.0
.2 _5
-.1 -23
A
1.8
II
III
1.1
-.5
4.4
9.3
^.5
-4.5
4.8
11.4
-5.9
-5.9
2.0
-.6
2.7
2.7
4.5
3.7
.8
.8
70
73
0
0
10.3
9.S
.c
-1.6
3.4
-4.8
-4.8
-1.4
4.5
-5.6
-5.6
-2.7
-2.2
-.6
-.6
2.5
1.4
1.1
1.1
-1.6
-1.7
.1
.1
4.4
4.2
.2
.2
1.8
2.2
2.1
2.1 -12.1
2.6 -12.1
-.6
0
_5
0
4.3
2.9
1.4
1.4
4.1
1.3
2.7
2.7
2.3
2.1
.2
.2
3.0
1.8
1.2
1.2
4.8
3.2
1.6
1.6
4.4
2.7
1.8
1.6
7.0
5.8
1.2
1.2
3.3
2.1
1.2
1.1
5.3
4.3
.9
.9
5.5
4.6
.9
.9
3.2
2.3
.9
.9
5.8
4.2
1.6
1.6
5.2
4.4
.9
.8
5.8
4.6
1.1
1.1
4.3
3.2
1.0
1.1
7.6
7.8
-.2
-.2
4.4
3.9
.4
.5
4.5
4.0
.5
.5
5.4
3.6
1.8
1.8
5.4
3.7
1.6
1.6
4.0
3.1
.9
.8
7.3
6.2
1.1
1.1
3.5
2.4
1.0
1.0
6.5
6.6
-.1
-.1
7.2
6.7
.5
.5
3.6
3.0
.5
.5
Gross national product:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
5.3
3.4
19
1.9
5.6
3.7
18
1.8
5.6
4.1
17
1.5
5.0
3.8
1?
1.2
3.6
2.4
11
1.2
6.7
5.8
9
.8
2.5
1.7
8
.9
Command-basis gross national product:
Chain-type quantity index
3.5
3.9
4.9
3.9
2.5
6.9
2.0
Disposable personal income:
Current dollars
Chained (1992) dollars
. .
4.9
2.8
4.7
2.8
4.0
2.9
3.8
2.4
4.0
2.9
4.0
4.0
3.5
2.6
Imnlirit nrirp ripftator
State and local:
Current dollars
Chain-type quantity indsx
Chain-type price index
Addenda:
Final sales of domestic product:
Current dollars
Chain-type quantity index
Implicit price deflator
Gross domestic purchases:
Current dollars
Chain-type quantity index
Implicit price deflator
Final sales to domestic purchasers:
Current dollars
Chain-type quantity index
ImnliHt nripp ripflntnr
-4.7
-6.4
1.7
1.8
,<J
15.5
13.1
3.6
2.6
Table 8.2.—Contributions to Percent Change in Real Gross Domestic
Product
D-25
National Data
SURVEY OF CURRENT BUSINESS
November 1998
Table 8.3.—Selected Per Capita Product and Income Series in Current
and Chained Dollars
[Dollars]
Seasonally adjusted at annual rates
1996
1997
1997
II
Percent change at annual rate:
Gross domestic product
Percentage points at annual rates:
Personal consumption expenditures
Durable goods
Nondurable goods
Services
Gross private domestic investment ...
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Change in business 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
III
Seasonally adjusted at annual rates
1998
IV
I
II
1996
III
1997
1997
II
3.4
2.17
.52
.48
3.9
2.31
.56
.49
4.0
1.08
1.18
1.26
-.13
-.04
1.26
1.26
1.65
2.92
1.21
1.18
1.08
1.63
1.39
-.19
1.58
.92
.14
.78
.29
.04
-.19
.20
.88
.10
.47
-.27
.24
1.27
-.45
4.2
4.19
1.30
1.00
1.85
.23
1.66
1.67
.35
1.32
-.02
-1.41
-.47
.95 1.43
1.76
1.22
.76 1.21
1.37
1.02
.22
.18
.38
.20
-1.13 -1.71 -2.21 -1.69
-1.02 -1.51 -1.99 -1.38
-.11
.20
-.08
-.06
-.01
.28
-.20
.24
-.11
-.15
.04
.35
-.21
.38
.23
.38
-.15
.15
-.31
.25
-.08
-.08
.00
.33
3.0
1.88
.26
5.5
4.09
1.8
4.09
.91
3.3
2.64
.00
.45
-.08
1.70
1.23
1.41
1.40
1.01
2.14
2.19
1.34
4.07
-.75
1.15
2.82
2.21
-.15
2.36
1.95
1.35
-.07
1.42
-.11
-.19
.48
.16
.03
.13
.32
.85
-.30
.53
.67
-.14
-.83
-.71
-.12
.02
-.14
-.09
-.05
.15
.60
1.22
.60
-2.66
.18
.09
.29
.96
-2.24
-2.08
-.76
-.33
-.29
-.04
-.92
-.98
-.33
-.03
-.29
-.44
-.48
-1.94
-1.75
-.19
.06
-1.18
-1.19
.01
-.34
.64
-.57
-.84
.44
.38
.06
.20
.26
.24
.05
.25
-.11
.17
-.27
.36
Current dollars:
Gross domestic
product
Gross national
product
Personal income
Disposable personal
income
Personal
consumption
expenditures
Durable goods ....
Nondurable
goods
Services
III
1998
IV
I
II
III
28,849
30,278
30,138
30,468
30,707
31,132
31,277
31,519
28,895
24,193
30,248
25,325
30,134
25,206
30,436
25,435
30,634
25,686
31,077
26,007
31,207
26,242
26,451
20,840
21,633
21,558
21,709
21,871
22,046
22,192
22,336
19,639
2,422
20,508
2,512
20,329
2,467
20,660
2,540
20,807
2,538
21,078
2,618
21,394
2,668
21,599
2,645
5,795
11,421
5,975
12,021
5,936
11,926
6,008
12,111
6,001
12,268
6,064
12,396
6,134
12,593
6,176
12,778
26,338
27,138
27,048
27,263
27,397
27,718
27,786
27,944
26,389
27,125
27,058
27,248
27,345
27,683
27,739
18,989
19,349
19,315
19,385
19,478
19,632
19,719
19,799
17,894
2,358
18,342
2,496
18,213
2,444
18,447
2,534
18,529
2,547
18,770
2,637
19,010
2,703
19,145
2,696
5,463
10,079
5,548
10,309
5,521
10,255
5,578
10,349
5,559
10,434
5,649
10,506
5,710
10,623
5,728
10,740
Chained (1992)
dollars:
Gross domestic
product
Gross national
product
Disposable personal
income
Personal
consumption
expenditures
Durable goods ....
Nondurable
goods
Services
Population (mid-period,
thousands)
265.579 267.880 267.545 268,171 268.815 269.309 269.867 270.524
SURVEY OF CURRENT BUSINESS
D-26 • National Data
November 1998
Table 8.4.—Auto Output
Table 8.5.—Real Auto Output
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
1998
1997
1996 1997
III
II
IV
I
II
1996
139.8 134.8 131.4 137.5 131.8 130.1 132.5 127.0
141.6 143.5 139.9 145.7 141.0 144.2 146.9 143.9
85.8
55.8
44.8
78.8
-04.0 -34.2
-48.9 -56.4
17.0
65.9
2.3
Change in business inventories of new
and used autos
New
Used
Addenda:
Domestic output of new autos1
Sales of imported new autos2
86.2
57.3
45.7
79.9
-5.2
-5.5
.2
16.8
73.1
2.0
81.5
58.4
45.2
79.9
-34.7
-55.6
17.5
73.1
1.8
89.0
56.6
46.9
80.4
-33.5
-57.2
16.7
73.9
2.1
-.1 -1.8
.2 -.9
-.3 -.9
1.3
1.4
-.1
86.3
54.7
43.7
76.1
-82.4
-55.0
16.7
71.7
2.1
87.7
56.5
45.8
78.8
-33.0
-61.7
16.7
78.5
1.8
93.3
53.6
46.7
80.7
-34.0
-63.3
16.0
79.3
2.2
86.8
57.1
42.0
72.3
-30.4
-60.8
13.7
74.5
1.8
3.4
.4 -14.4
3.6
7.7
3.0 1.8 -17.4
.4 -1.4
3.0 -4.1
120.6 120.0 116.4 124.5 119.3 114.8 104.8 116.7
58.0
63.1
61.3
64.3
62.9
67.9
71.4 64.0
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and gross government investment.
Change in business inventories
69.2
82.3
65.0
80.0
71.4
83.9
-47 -49 -54 -52
9.0 10.9 10.0 11.3
137 158 154 166
9.2 10.4
9.0
7.6
-.7
3.3
2.3
.4
73.5
85.7
-3.1
12.3
155
8.2
7.0
74.0
81.4
75.1
888
94?
887
-3.6
12.2
15.8
-1.7
12.0
-5.4
138
94
14.2
3.0 -11.7
-3.9
7.7
88
6.7
II
III
Change in business inventories of new
and used autos
New
Used
Residual
Addenda:
Domestic output of new autos l
Sales of imported new autos2
124.3 119.8 116.1 122.5 118.2 116.6 119.0 112.8
121.5 123.7 120.0 126.4 122.8 125.7 128.1 124.6
78.2
42.4
44.7
71.8
78.5
44.1
44.2
72.8
-26.9 -28.1
-43.6 -49.8
16.0
59.6
15.7
65.5
2.1
1.8
-4.7
-5.1
.2
.4
.7
-.2
.7
.4
74.1
44.5
44.0
72.7
-28.1
-49.3
16.4
65.7
1.6
81.1
44.3
44.6
73.2
-28.1
-50.3
15.6
66.0
1.9
0
.9
-.8
.5
.5
.6
-.1
.5
79.0
42.9
41.6
69.7
-27.4
-48.1
15.6
63.8
1.9
80.4 85.7 79.5
44.3 41.9 44.0
43.7 44.8 40.3
72.2 74.1 66.2
-28.0 -28.8 -25.4
-54.3 -55.8 -53.9
15.7 14.9 12.8
69.9 70.7 66.7
1.6 2.0 1.6
4.2 -.1 -12.3
2.6
4.0 1.3 -15.8
6.7
.3 -1.2
2.6 -3.4
.1
.2 1.0
0
110.8 110.3 108.0 113.3 110.4 105.3
52.9
57.5
55.7
58.6
57.5
62.3
97.3 106.6
65.6 58.6
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and gross government investment.
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
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, excluding the
lines in the addenda.
Chain-type quantity indexes for the series in this table appear in table 7.18.
[Billions of chained (1992) dollars]
66.5
73.8
I
119.8 120.2 116.1 123.0 122.3 116.6 106.9 115.3
Auto output
Final sales
Personal consumption expenditures
New autos
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
Net exports
Exports
Imports
Gross government investment
Table 8.7.—Rea! Truck Output
14? fi 158.9 151.1 1610 171.3 1699 171.5 158,?
143.3 155.6 148.8 160.6 164.3 166.9 183.3 165.1
1998
IV
III
[Billions of dollars]
Truck output1
II
Table 8.6.—Truck Output
Final sales
Personal consumption expenditures
Producers' durable equipment
Net exports
Exports
Imports
Gross government investment
1. Includes new trucks only.
1997
1997
III
134.5 134.7 129.6 138.8 135.2 130.4 118.1 130.6
Auto output
Final sales
Personal consumption expenditures
New autos
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
Net exports
Exports
Imoorts
Gross government investment
Seasonally adjusted at annual rates
Truck output 1
Final sales
Personal consumption expenditures
Producers' durable equipment
Net exports
Exoorts
Imports
Gross government investment
Change in business inventories
Residual
126.2 140.2 133.1 141.7 151.9 151.5 153.3 140.9
126.9 137.3 131.2 141.6 145.7 148.9 163.9 147.2
58.3
65.7
59.8
73.7
56.2
71.5
61.7
75.1
63.6
77.4
64.4
80.6
71.1
85.6
65.4
80.4
-37 -40 -45 -43 -24 -28 -1 1 -44
87 103
95 107 11 5 11 3 11 2
82
12.4
14.0
14.3
150 139 142 123 126
81 82
67
74 70
93
60
86
-.6
-2
2.8
-2
1.9
-2
.4
5.9
-5
o
2.5 -10.2 -6.0
_7 -5
-1
1. Includes new trucks only.
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
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.
Chain-type quantity indexes for the series in this table appear in table 7.19.
National Data • D-27
SURVEY OF CURRENT BUSINESS
November
B. Other NIPA and NiPA-Related Tables.
Monthly Estimates:
Tables B.i and B.2 include the most recent estimates of personal income and its components; these estimates were
released on November 2, 1998 and include "preliminary" estimates for September 1998 and "revised" estimates
for July and August 1998.
Table B.1.—Personal Income
[Billions of dollars; monthly estimates seasonally adjusted at annual rates]
1997
1996
Aug.
Personal income
Wage and salary disbursements
Private industries
Goods-producing industries .
Manufacturing
Distributive industries
Service industries
Government
Other labor income
Proprietors' income with IVA and CCAdj
Farm
.
Nonfarm
Rental income of persons with CCAdj
Personal dividend income
:
Personal interest income
Transfer payments to persons
Old-age, survivors, disability, and health insurance benefits
Government unemployment insurance benefits
Other
Less: Personal contributions for social insurance
.. ..
. .
1998
1997
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.r
Sept./'
6,425.2
3,631.1
29902
909.0
674.6
8233
1,257.9
6409
6,784.0
3,889.8
3225.7
975.0
719.5
879.8
1,370.8
6642
6,826.7
3,922.7
3 255.9
980.9
723.7
889.1
1,386.0
666.8
6,850.1
3,937.1
3,268.8
985.3
726.6
892.7
1,390.7
668.3
6,875.5
3,964.0
3,294.0
995.2
735.1
898.7
1,400.2
6700
6,910.9
3,998.0
3,326.3
1,004.0
741.8
908.7
1,413.7
671.6
6,928.3
4,007.7
3,335.0
1,012.1
746.8
906.3
1,416.7
672.7
6,970.5
4,040.0
3,362.9
1,016.7
748.7
915.3
1,430.8
6772
7,007.3
4,066.4
3,386.5
1,020.2
750.8
920.8
1,445.5
6800
7,033.9
4,079.3
3,397.9
1,020.1
751.8
920.5
1 ,457.3
681.4
7,055.3
4,097.6
3,414.0
1,022.8
750.8
926.4
1,464.7
683.6
7,085.9
4,124.3
3,438.6
1,025.5
753.2
935.6
1,477.5
685.7
7,104.4
4,131.0
3,442.8
1,021.3
748.3
934.4
1,487.1
688.1
7,131.8
4,153.5
3,463.4
1,020.8
743.7
941.5
1,501.0
690.1
7,161.4
4,183.7
3,491 1
1,030.7
752.5
9464
1,514.0
6927
7,173.5
4,189.0
34944
1,029.1
754.7
9500
1,515.4
6946
3870
527.7
389
488.8
3929
551,2
3935
555.6
3953
559.7
3944
558.9
396.9
557.7
399.7
557.5
401 7
559.8
4028
563.9
4038
568.8
404.7
570.2
405.7
570.2
4066
574.8
4075
576.3
4092
574.5
35.5
36.4
35.1
33.5
515.8
519.2
524.5
525.4
1502
1582
1586
1587
1587
248.2
10680
538.0
21 9
508.0
306.3
1 1104
565.9
199
524.6
326.2
260.3
7506
1,114.1
569.2
193
525.6
328.6
260.7
751.7
1,116.8
569.2
261.0
7194
260.3
7473
19.9
527.7
329.7
752.5
1,117.5
570.8
183
528.4
331.7
31.5
29.1
526.2
158.8
261.3
753.0
1,119.3
570.7
528.4
158.9
261.4
753.3
1,124.7
575.1
28.2
27.3
531.6
536.6
1583
1584
261.5
754.7
261.6
7570
1,138.4
581.2
1,133.8
579.3
26.6
542.2
158.3
261.8
759.3
1,144.7
584.4
27.7
27.2
543.0
159.4
262.0
761.2
1,143.8
583.7
542.5
160.9
262.1
762.8
1,145.3
585.1
28.2
26.2
546.6
550.2
4083
573.8
243
549.6
1626
1631
1635
1641
262.3
7650
1,148.3
586.2
262.4
766.5
1,150.2
588.0
195
542.7
347.7
262.8
7675
1 151 7
588.7
193
543.8
350.0
263.7
7687
1 1547
589.6
196
5456
350.5
19.8
19.9
19.6
19.5
19.7
19.6
19.4
19.6
528.9
334.1
529.7
334.9
534.9
339.3
537.7
341.2
540.6
342.2
540.5
343.6
540.8
345.5
542.5
346.2
22.3
552.3
IVA Inventory valuation adjustment
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
p Preliminary.
r
Revised.
CCAdj Capital consumption adjustment
Table B.2.—The Disposition of Personal Income
[Monthly estimates seasonally adjusted at annual rates]
1998
1997
1996
1997
Sept.
Aug.
Nov.
Oct.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Aug.'
Sept.'
7,085.9
1,094.9
5,990.9
5,970.4
5,782.1
724.3
1,657.9
3,399.9
168.4
7,104.4
1,100.5
6,004.0
6,005.2
5,815.0
737.3
1,661.0
3,416.7
170.4
7,131.8
1,105.3
6,026.5
6,007.6
5,815.4
705.6
1,669.9
3,440.0
171.6
7,161.4
1,116.0
6,045.5
6,034.5
5,840.8
713.4
1,670.3
3,457.1
173.2
7,173.5
1,118.3
6,055.2
6,067.2
5,872.7
727.5
1,671.8
3,473.4
174.0
Billions of dollars, unless otherwise indicated
Personal income
Less' Personal tax and nontax payments
Equate'. Disposable personal income
Less' Personal outlays
Personal consumption expenditures
Durable goods
Nondurable goods
Services
Interest paid by persons
Personal transfer payments to the rest of the world (net)
Equals'. Personal saving
Addenda:
Disposable personal income:
Billions of chained (1992) dollars1
Per capita:
Current dollars
Chained (1992) dollars
Population (thousands)
Personal consumption expenditures:
Billions of chained (1992) dollars
Durable goods
Nondurable goods
Services
Implicit price deflator 1992=100
Personal saving as percentage of disposable personal income2
6,425.2
890.5
5,534.7
5,376.2
5,215.7
643.3
1,539.2
3,033.2
143.6
6,784.0
989.0
5,795.1
5,674.1
5,493.7
673.0
1,600.6
3,220.1
161.5
6,826.7
1,000.3
5,826.4
5,720.5
5,537.7
683.5
1,610.8
3,243.5
163.3
6,850.1
1,006.7
5,843.4
5,739.6
5,554.0
677.1
1,614.4
3,262.5
166.0
6,875.5
1,015.5
5,860.0
5,752.7
5,565.8
671.7
1,614.6
3,279.5
167.2
6,910.9
1,026.9
5,884.0
5,783.4
5,596.4
684.8
1,614.8
3,296.7
167.2
6,928.3
1,034.1
5,894.2
5,807.4
5,617.4
690.1
1,610.2
3,317.1
170.2
6,970.5
1,058.7
5,911.8
5,837.3
5,649.3
709.6
1,623.8
3,315.9
168.8
7,007.3
1,069.4
5,937.9
5,870.0
5,682.7
708.2
1,636.7
3,337.8
168.1
7,033.9
1,072.4
5,961.5
5,884.7
5,697.5
697.6
1,638.8
3,361.0
168.0
7,055.3
1,083.3
5,972.0
5,914.4
5,723.9
698.6
1,646.8
3,378.5
170.6
16.9
18.9
19.5
19.5
19.8
19.8
19.8
19.2
19.2
19.2
19.9
19.9
19.9
20.5
20.5
20.5
158.5
121.0
105.8
103.8
107.2
100.6
86.8
74.5
67.9
76.8
57.6
20.5
-1.2
18.9
11.0
-12.0
5,043.0
5,183.1
5,203.2
5,210.7
5,221.4
5,239.7
5,246.5
5,264.9
5,287.0
5,309.5
5,311.7
5,318.8
5,334.0
5,345.3
5,356.1
5,366.6
20,840 21,633 21,726 21,772 21,814 21,888 21,912 21,965 22,049 22,122 22,145 22,200 22,231 22,296 22,347 22,364
19,697 19,709 19,751 19,776 19,799 19,820
18,989 19,349 19,403 19,415 19,437 19,491 19,504 19,562 19,632 19,703
265,579 267,880 268,171 268,391 268,633 268,823 268,989 269,143 269,302 269,482 269,669 269,862 270,069 270,289 270,524 270,761
4,983.6
687.9
1,495.7
2,803.3
112.30
1.7
5,000.1
693.3
1,492.6
2,817.3
112.35
1.5
5,074.3
703.8
1,531.4
2,843.8
112.28
1.3
4,913.5
668.6
1,486.3
2,761.5
111.81
2.1
4,945.4
682.6
1,495.4
2,771.7
111.98
4,952.6
676.9
1,494.6
2,784.1
112.14
1.8
1.8
5.8
5.6
0.6
0.3
0.4
0.5
0.3
0.6
0.5
0.4
4.9
2.8
4.7
2.8
.5
.4
.3
.1
.3
.2
.4
.4
.2
.1
.3
.4
.4
.4
5.3
3.2
5.3
3.4
.2
.1
.3
.1
.2
.1
.5
.5
.4
.3
.6
.6
.6
.6
4,959.3
673.0
1,494.4
2,794.0
112.23
1.8
5,031.1
713.8
1,508.6
2,814.9
112.29
1.3
5,059.7
713.1
1,523.7
2,829.0
112.31
4,752.4
626.1
1,450.9
2,676.7
109.75
2.9
1.1
5,091.1
704.2
1,536.8
2,854.3
112.43
1.0
5,133.4
734.0
1,540.7
2,866.1
112.64
5,158.1
716.6
1,551.2
2,894.5
112.74
.3
5,166.1
749.8
1,545.2
2,880.0
112.56
0
0.3
0.4
.4
.4
.2
0
.3
.3
.5
.3
.3
5,174.8
727.0
1,547.4
2,905.2
112.87
.2
5,204.9
744.6
1,550.3
2,916.5
112.83
-.2
0.3
0.4
0.4
0.2
.3
.1
.2
.3
.4
.2
.3
.2
.2
.2
1.0
.8
.6
.6
0
-.2
.4
.3
.5
.6
Percent change from preceding period, monthly changes at monthly rates
Personal income, current dollars
Disposable personal income:
Current dollars
Chained (1992) dollars
Personal consumption expenditures:
Current dollars
.
Chained (1992) dollars
... .
p Preliminary.
r
Revised.
1. Disposable personal income in chained (1992) dollars equals the current-dollar figure divided by the implicit
price deflator for personal consumption expenditures.
2. Monthly estimates equal personal saving for the month as a percentage of disposable personal income for
that month.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
D-28
• National Data
SURVEY OF CURRENT BUSINESS
November 1998
Annual Estimates:
Except as noted, these tables are derived from the NIPA tables published in the August 1998 SURVEY OF CURRENT
BUSINESS; they are consistent with the most recent comprehensive and annual revisions.
Table B.3 is not included in "Other NIPA and NiPA-Related Tables" this month. The data in table B.3 are
presented in more detail in "Gross Product by Industry, 1995-97" elsewhere in this issue.
National Data • D-29
SURVEY OF CURRENT BUSINESS
November 1998
Table B.4.—Personal Consumption Expenditures by Type of Expenditure
1995
Personal consumption expenditures
1996
I
Billio ns of chained
/i 992) dollars
Billions of dollars
1997
1995
1996
832.3
494.2
277.2
9.1
.4
736.8
434.9
246.1
8.0
.4
740.0
436.6
247.4
8.1
A
745.7
442.3
248.4
8.2
.4
Food and tobacco
Food purchased for off-premise consumption (n.d.)
Purchased meals and beverages * (n.d.)
Food furnished to employees (including military) (n.d.)
Food produced and consumed on farms (n.d.)
Tobacco products (n d )
Addenda: Food excluding alcoholic beverages (n.d.)
Alcoholic beverages purchased for off-premise
consumption (n d )
Other alcoholic beverages (n.d.)
780.4
461.9
261.0
8.5
5
48^6
649.1
50.2
51.4
47.4
47.5
46.4
669.0
692.4
609.4
611.4
617.5
54.8
27.9
57.1
28.9
58.6
30.0
54.4
25.7
55.4
25.8
56.1
25.9
Clothing accessories and jewelry
Shoes' (nd)
Clothing and accessories except shoes2
....
Women's and children's (n d )
Men's and boys' (n d )
Standard clothing issued to military personnel (n.d)
Cleaning, storage, and repair of clothing and shoes (s.) ...
Jewelry
'and watches (d)
. .
Other 3 (s)
321.8
338.0
353.3
324.2
345.7
36.9
38.5
39.8
37.2
39.0
216.8
140.5
226.9
146.5
237.9
152.9
222.7
145.4
236.9
155.7
76.4
80.4
85.0
77.2
81.2
.3
.3
.3
.3
.3
12.2
39.4
16.1
12.7
41.4
18.2
13.1
43.1
19.2
11.4
37.7
15.0
11.7
41.2
16.7
Personal care
,
Toilet articles and preparations /n d )
Barbershops, beauty parlors, and health clubs (s.)
71.8
47.2
24.6
75.0
49.7
25.3
79.4
52.6
26.8
68.1
45.3
22.8
70.1
47.4
22.7
Housing
Owner-occupied nonfarm. dwellingsspace5 rent4 (s.)
Tenant-occupied nonfarm dwellingsrent (s )
Rental value of farm dwellings (s )
Other6 (s)
750.4
532.4
184.8
5.9
787.4
559.1
193.2
6.1
829.8
590.3
203.2
6.3
688.6
487.4
171.4
5.2
700.9
496.0
174.7
5.1
27.3
29.1
30.0
24.7
25.2
Transportation
User-operated transportation
..
New autos (d )
247.7
Net purchases of used autos (d.)
162.5
Other motor vehicles (d.)
85.3
Tires, tubes, accessories, and other parts (d.)
.3
Repair, greasing, washing, parking, storage, rental, and
11.7
leasing (s.)
44.5
Gasoline and oil (n.d.)
17.2
Bridge, tunnel, ferry, and road tolls (s.)
Insurance 19 (s.)
73.0
!
Purchased local transportation
49.8
Mass transit systems (s.)
23.3
Taxicab (s.)
Purchased intercity transportation
717.4
Railway (s.)
508.9
Bus (s.)
178.7
Airline2 6(s.)
5.0
Other (s)
40.4
592.8
620.7
533.0
555.6
578.4
47.7
27.2
25.2
54.6
28.7
50.6
28.5
27.0
57.9
30.7
54.8
29.7
28.6
61.8
32.8
44.3
26.7
25.2
53.7
26.8
46.4
27.9
27.3
56.8
28.7
50.4
29.3
29.1
60.4
30.6
Medical care
Drug preparations and sundries ll (n d )
Ophthalmic products and orthopedic appliances (d.)
Physicians (s )
Dentists (s.)
Other professional services 12 13(s.)
Hospitals and nursing homes ...
52.3
15.8
54.6
16.8
56.5
18.0
50.3
14.4
51.2
14.7
52.5
15.0
168.0
176.6
178.5
159.0
161.9
160.1
87.9
31.3
37.9
10.9
87.7
12.8
39.3
90.3
35.2
38.9
12.2
97.1
12.5
40.4
90.2
36.0
41.1
11.2
85.1
32.9
32.8
11.2
94.7
11.0
35.5
84.6
31.5
33.8
10.3
13.2
42.7
84.3
30.5
33.1
11.2
85.5
11.7
35.8
875.0
912.4
957.3
766.9
782.6
105.0
11.2
36.4
85.5
13.3
91.1
14.6
98.1
15.7
79.6
12.3
83.0
13.3
88.2
14.1
198.2
205.2
166.2
170.8
174.5
47.6
49.5
52.6
40.8
41.5
104.9
374.3
310.8
206.4
111.9
389.8
321.7
212.9
119.4
408.1
334.3
220.0
41.1
95.9
336.9
280.4
188.5
100.5
341.1
283.3
189.7
103.3
350.2
289.6
192.2
34.7
69.8
63.5
57.9
45.6
36.6
72.2
68.1
57.4
45.0
40.7
73.5
73.9
58.0
46.1
30.5
61.4
56.4
37.1
34.8
31.4
62.0
57.9
36.2
34.0
34.6
62.6
60.5
35.8
33.6
2.3
2.6
9.8
2.8
9.2
2.5
1.8
2.7
1.7
2.9
1.6
1. Consists of purchases (including tips) of meals and beverages from retail, service, and amusement establishments, hotels, dining and buffet cars, schools, school fraternities, institutions, clubs, and industrial lunchrooms. Includes meals and beverages consumed both on- and off-premise.
2. Includes luggage.
3. Consists of watch, clxk, and jewelry repairs, costume and dress suit rental, and miscellaneous personal services.
4. Consists of rent for space and for heating and plumbing facilities, water heaters, lighting fixtures, kitchen cabinets, linoleum, storm windows and doors, window screens, and screen doors, but excludes rent for appliances and
furniture and purchases of fuel and electricity.
5. Consists of space rent (see footnote 4) and rent for appliances, furnishings, and furniture.
6. Consists of transient hotels, motels, clubs, schools, and other group housing.
7. Consists of refrigerators and freezers, cooking ranges, dishwashers, laundry equipment, stoves, room air conditioners, sewing machines, vacuum cleaners, and other appliances.
8. Includes such house furnishings as floor coverings, comforters, quilts, blankets, pillows, picture frames, mirrors,
art products, portable lamps, and clocks. Also includes writing equipment and hand, power, and garden tools.
9. Consists largely of textile house furnishings, including piece goods allocated to house furnishing use. Also
includes lamp shades, brooms, and brushes.
10. Consists of maintenance services for appliances and house furnishings, moving and warehouse expenses,
postage and express charges, premiums for fire and theft insurance on personal property less benefits and dividends, and miscellaneous household operation services.
11. Excludes drug preparations and related products dispensed by physicians, hospitals, and other medical services.
12. Consists of osteopathic physicians, chiropractors, private duty nurses, chiropodists, podiatrists, and others providing health and allied services, not elsewhere classified.
13. Consists of (1) current expenditures (including consumption of fixed capital) of nonprofit hospitals and nursing
homes, and (2) payments by patients to proprietary and government hospitals and nursing homes.
14. Consists of (1) premiums, less benefits and dividends, for health, hospitalization, and accidental death and
dismemberment insurance provided by commercial insurance carriers, and (2) administrative expenses (including con15. Consists of premiums, less benefits and dividends, for income loss insurance.
16. Consists of premiums, less benefits and dividends, for privately administered workers' compensation.
17. Consists of (1) operating expenses of life insurance carriers and private noninsured pension plans, and (2)
premiums, less benefits and dividends, of fraternal benefit societies. Excludes expenses allocated by commercial
carriers to accident and health insurance.
18. Consists of current expenditures (including consumption of fixed capital) of trade unions and professional associations, employment agency fees, money order fees, spending for classified advertisements, tax return preparation
services, and other personal business services.
1996
1997
1995
1996
1997
416.2
459.1
354.3
364.6
377.2
39il
46.6
54.4
42.1
51.1
61.2
33.9
37.3
41.5
27.9
29.0
30.8
159.1
167.5
190.9
144.2
145.3
148.1
75.7
49.4
12.2
19.4
77.4
53.0
13.3
21.1
80.2
55.9
13.8
22.4
68.8
44.4
10.5
17.3
66.2
46.1
10.9
18.3
65.2
46.7
10.7
18.9
574.1
531.9
611.6
567.3
636.4
588.3
531.5
491.1
551.7
509.0
569.7
525.3
86.6
53.0
79.7
36.2
85.8
55.8
84.7
38.5
86.2
57.3
87.2
38.8
80.2
41.4
72.0
36.7
78.2
42.4
75.0
39.1
78.5
44.1
76.5
39.7
128.7
115.6
2.8
143.6
124.5
2.8
154.9
126.5
3.0
117.5
114.3
2.5
128.6
116.0
2.5
137.0
117.9
2.5
29.4
31.5
10.0
34.4
10.4
26.0
26.7
28.3
9.1
6.0
3.2
33.0
.8
1.1
27.9
6.5
3.5
34.3
.8
1.1
28.5
6.8
3.6
37.7
.8
1.2
31.5
8.5
5.5
3.0
31.9
7
12
27.2
8.4
5.5
3.0
34.4
.7
1.2
29.2
8.6
5.7
3.0
35.9
.7
1.2
30.4
3.3
3.9
4.1
2.8
3.3
3.4
Recreation
. ...
Books and maps (d.)
Magazines, newspapers, and sheet music (n.d.)
Nondurable toys and sport supplies (n.d.)
Wheel goods, sports and photographic equipment, boats,
and pleasure aircraft (d.)
Video and audio products, computing equipment, and
musical instruments (d.)
Radio and television repair (s )
Flowers seeds and potted plants (n d ) . .
Admissions to specified spectator amusements
Motion picture theaters (s.)
Legitimate theaters and opera, and entertainments of
nonprofit institutions (except athletics) (s.)
Spectator sports21 (s.)
Clubs and fraternal organizations22 (s23 )
Commercial participant amusements (s.)
Pari-mutuel net receipts (s.)
.
Other 2 4 (s)
404.2
432.3
462.9
399.1
429.9
466.9
22.4
25.7
42.3
24.2
27.6
45.1
25.2
29.1
47.8
21.0
23.1
41.9
21.8
23.9
44.5
22.5
25.0
47.6
39.3
42.3
48.1
38.0
40.9
46.8
86.4
92.0
96.5
103.6
4.4
123.8
4.4
146.8
4.6
13.3
18.2
14.8
18.9
16.5
19.6
92.1
98.3
3.5
105.1
Education and research
Higher education25 (s.)
Nursery, elementary, and secondary schools26 (s.)
Other27 (s )
112.0
119.7
129.4
62.4
22.9
26.7
65.7
23.5
30.4
69.6
25.7
34.1
4.9
13.8
20.1
5.0
14.8
21.9
5.8
6.2
8.7
5.5
9.3
6.4
12.7
41.3
3.3
13.0
44.7
3.4
5.4
15.9
23.3
6.6
10.0
6.7
13.8
49.1
5.3
5.3
5.6
7.9
5.0
8.0
5.6
8.4
5.6
11.5
37.9
3.0
11.6
40.0
2.9
12.1
42.9
2.9
85.9
88.6
91.4
98.7
53.7
20.7
24.4
102.0
106.8
54.0
20.9
27.3
54.8
22.4
30.0
803.6
191.5
10.0
Billio ns of chained
H
992) dollars
24.9
559.4
Proprietary (s.)
Government (s.)
Nursing homes (s.)
Health insurance
Medical care15and hospitalization H (s.)
Income loss (s.)
Workers' compensation 16 (s.)
Personal business
Brokerage charges and investment counseling (s.)
Bank service charges, trust services, and safe deposit
box rental (s.)
Services furnished without payment by financial
intermediaries except life insurance carriers and private
noninsured pension plans (s ) ...
Expense of handling life insurance 17 (s.)
Legal services (s )
.
Funeral and burial expenses (s.)
Other 1 8 (s)
361.8
Household operation
Furniture, including mattresses and bedsprings (d.)
Kitchen and other household appliances ^(d.)
China glassware, tableware and8 utensils (d.)
Other durable house furnishings
(d.)
Semidurable house furnishings9 (n d )
Cleaning and polishing preparations, and miscellaneous
household supplies and paper products (n.d)
Stationery and writing supplies (n d )
Household utilities
Electricity (s )
Gas (s )
Water and other sanitary services (s.)
Fuel oil and coal (n d ) .
Telephone and telegraph (s )
Domestic
service (s )
Other 10 (s )
104.2
1995
1997
4,953.9 5,215.7 5,493.7 4,605.6 4,752.4 4,913.5
805.2
477.0
268.8
8.8
.4
Billions of dollars
Religious and welfare activities 28(s.)
.
Foreign travel and other, net
Foreign travel by U.S. residents29 (s.)
Expenditures abroad by U.S. residents (n.d.)
Less: Expenditures
in the United States by
nonresidents30 (s.)
Less: Personal remittances in kind to nonresidents (n.d.)
Residual
138.6
151.1
157.6
127.8
137.0
140.4
-22.7
-26.1
-24.4
-20.1
-21.4
-17.7
51.2
54.7
59.9
48.3
50.5
54.5
2.7
75.2
1.4
2.5
82.0
1.3
3.0
86.0
1.3
2.4
69.6
1.3
-11.1
2.3
73.0
1.2
-20.7
3.1
74.1
1.2
-33.5
19. Consists of premiums, less benefits and dividends, for motor vehicle insurance.
20. Consists of baggage charges, coastal and inland waterway fares, travel agents' fees, and airport bus fares.
21. Consists of admissions to professional and amateur athletic events and to racetracks.
22. Consists of dues and fees excluding insurance premiums.
23. Consists of billiard parlors; bowling alleys; dancing, riding, shooting, skating, and swimming places; amusement
devices and parks; golf courses; sightseeing buses and guides; private flying operations; casino gambling; and other
commercial participant amusements.
24. Consists of net receipts of lotteries and expenditures for purchases of pets and pet care services, cable
TV, film processing, photographic studios, sporting and recreation camps, video cassette rentals, and recreational
services, not elsewhere classified.
25. For private institutions, equals current expenditures (including consumption of fixed capital) less receiptssuch as those from meals, rooms, and entertainments—accounted for separately in consumer expenditures, and
less expenditures for research and development financed under contracts or grants. For government institutions,
equals student payments of tuition.
26. For private institutions, equals current expenditures (including consumption of fixed capital) less receiptssuch as those from meals, rooms, and entertainments—accounted for separately in consumer expenditures. For government institutions, equals student payments of tuition. Excludes child day care services, which are included in
religious and welfare activities.
27. Consists of (1) fees paid to commercial, business, trade, and correspondence schools and for educational
services, not elsewhere classified, and (2) current expenditures (including consumption of fixed capital) by research
organizations and foundations for education and research.
28. For nonprofit institutions, equals current expenditures (including consumption of fixed capital) of religious, social welfare, foreign relief, and political organizations, museums, libraries, and foundations. The expenditures are
net of receipts—such as those from meals, rooms, and entertainments—accounted for separately in consumer expenditures, and excludes relief payments within the United States and expenditures by foundations for education
and research. For proprietary and government institutions, equals receipts from users.
29. Beginning with 1981, includes U.S. students' expenditures abroad; these expenditures were $0.3 billion in
1981.
30. Beginning with 1981, includes nonresidents' student and medical care expenditures in the United States; student expenditures were $2.2 billion and medical expenditures were $0.4 billion in 1981.
NOTE.—Consumer durable goods are designated (d.), nondurable goods (n.d.), and services (s.).
Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992 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.
SURVEY OF CURRENT BUSINESS
D-30 • National Data
Table B.6.—Private Purchases of Producers' Durable Equipment by Type
Table B.5.—-Private Purchases of Structures by Type
Billions of chained
(1992) dollars
Billions of dollars
Private purchases of structures ....
Nonresidential
New
Nonresidential buildings, excluding farm
Industrial
Commercial
Office 2buildings1
Other
Religious
Educational
Hospital and institutional
Other3
Utilities
Railroads
Telecommunications
Electric light and power
Gas
Petroleum pipelines
Farm
Mining exploration, shafts, and wells
Petroleum and natural gas
Other
Other4
Brokers' commissions on sale of
structures
Net purchases of used structures
Residential
New
New housing units
Permanent site
Single-family structures
Multifamily structures
Mobile homes
Improvements
Other5
Brokers' commissions on sale of
structures
Net purchases of used structures ..,
Residual
Billions of dollars
1995
1996
1997
478.8
521.2
201.3
216.9
200.9
216.6
140.8
157.1
173.3
126.1
137.7
147.2
32.5
70.8
29.8
41.0
32.7
78.8
32.4
46.3
31.4
87.0
38.2
48.8
29.1
63.4
26.7
36.7
28.6
69.0
28.4
40.5
26.7
73.8
32.4
41.4
4.2
6.2
4.4
7.7
5.7
9.5
3.8
5.6
1995
1996
1997
560.1
430.5
458.4
478.4
240.2
180.7
189.7
203.2
238.9
180.3
189.4
202.0
3.9
6.7
4.9
8.1
12.5
14.5
13.1
20.5
15.3
24.4
11.2
13.0
11.5
18.0
13.0
20.7
33.9
31.7
33.5
30.6
27.8
28.7
3.5
11.0
12.3
6.2
.9
4.4
11.7
9.8
4.8
1.0
3.0
3.8
16.3
14.8
18.1
16.5
1.5
6.9
1.6
5.8
1.6
1.8
-1.3
-1.5
277.5
304.3
5.1
11.5
11.1
4.8
1.0
4.0
22.7
20.8
1.9
5.4
2.0
-7
319.9
3.1
10.1
11.0
5.6
.8
2.7
14.4
13.1
1.3
6.3
1.5
3.7
10.2
8.7
4.3
.9
3.3
15.3
13.8
1.4
5.1
1.7
-1.1
-1.3
249.8
268.6
4.1
9.9
9.7
4.2
.8
3.4
17.9
16.3
1.6
4.6
1.8
-.6
275.1
246.7
269.7
282.7
220.6
236.0
240.4
174.2
162.9
145.0
192.1
179.4
159.1
200.4
187.1
164.4
152.9
143.4
126.8
165.3
154.9
136.6
167.7
156.9
137.2
17.9
11.3
72.0
20.3
12.6
77.0
22.6
13.3
81.5
16.9
18.7
10.3
70.2
20.2
10.7
72.0
.5
.6
.8
32.1
-1.3
36.4
-1.8
39.7
-2.5
9.5
67.3
.5
.4
30.3
-1.1
-.1
34.2
-1.5
0
.7
37.1
-2.0
-.5
1. Consists of office buildings, except those constructed at industrial sites and those constructed by utilities for
their own use.
2. Consists of stores, restaurants, garages, service stations, warehouses, mobile structures, and other buildings
used for commercial purposes.
3. Consists of hotels and motels, buildings used primarily for social and recreational activities, and buildings not
elsewhere classified, such as passenger terminals, greenhouses, and animal hospitals.
4. Consists primarily of streets, dams and reservoirs, sewer and water facilities, parks, and airfields.
5. Consists primarily of dormitories and fraternity and sorority houses.
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
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.
November 1998
Private purchases of producers'
durable equipment
Nonresidential equipment
Information processing and related
equipment
Office, computing, and accounting
machinery
Computers and peripheral
equipment ]
Other
Communication equipment
Instruments
Photocopy and related equipment
Billions of chained
(1992) dollars
1995
1996
1997
533.7
578.6
526.4
1995
1996
1997
628.5
538.7
597.1
668.5
571.0
620.5
531.7
589.8
660.9
173.0
189.4
206.6
201.5
245.4
298.0
73.4
83.0
90.3
107.1
154.1
212.7
64.9
74.4
81.1
100.8
8.2
151.3
8.4
214.8
9.0
59.1
22.8
17.7
64.1
24.5
17.7
71.1
26.1
19.1
61.9
21.6
16.8
68.5
22.8
16.4
76.5
24.3
17.6
Industrial equipment
Fabricated metal products
Engines and turbines
Metalworking machinery
Special industry machinery, n.e.c
General industrial, including materials
handling, equipment
Electrical transmission, distribution, and
industrial apparatus
123.8
131.7
138.6
115.4
120.5
125.9
11.8
12.9
13.4
11.1
11.8
8.5
4.2
8.6
4.7
4.0
26.0
30.2
26.8
30.5
28.6
30.3
24.2
26.2
27.4
22.2
24.4
19.9
20.9
23.0
126.2
137.2
152.0
119.4
127.6
140.3
63.6
41.6
13.4
71.3
44.8
13.0
79.9
45.7
17.9
56.9
42.7
12.2
63.4
44.7
11.5
71.5
44.2
15.6
1.8
5.8
2.3
5.8
2.4
6.1
1.7
5,2
2.1
5.1
2.2
5.4
108.2
117.1
107.8
116.9
29.7
10.8
11.5
15.8
128.3
33J
101.4
28.2
10.4
10.8
13.4
26.2
27.0
10.1
10.4
14.2
30.1
10.8
11.0
15.6
1.9
1.9
2.3
1.7
1:8
2.0
14.9
12.9
19.6
15.1
14.0
21.7
13.1
11.3
16.7
13.7
12.5
18.1
13.7
13.8
19.9
4.7
4.4
5.0
3.5
3.6
4.0
7.3
7.6
8.0
7.0
7.3
7.7
29.7
33.5
26.0
20.9
Transportation and related equipment
Trucks, buses, and truck trailers ...
Autos
Aircraft
Ships and boats
Railroad equipment
Other equipment
Furniture and fixtures
Tractors
Agricultural machinery, except tractors
Construction machinery, except tractors
Mining and oilfield machinery
Service industry machinery
Electrical equipment, n.e.c
Other
Residential equipment
14.0
11.7
17.7
11.7
12.3
17.6
Residual
Addenda:
Private purchases of producers' durable
equipment
Less: Dealers' margin on used equipment
Net purchases of used equipment from
government
Plus'. Net sales of used equipment
Net exports of used equipment
Sale of equipment scrap
Equals: Private purchases of new
equipment
12.0
3.8
32.7
34.0
28.3
32.5
Less: Sale of equipment scrap, excluding
autos
9.2
9.8
10.0
12.4
-9.4
533.7
6.1
1.0
578.6
6.6
-29.1
3.4
29.3
30.7
-59.0
628.5
6.8
1.2
1.2
39.5
39.9
.5
4.8
.4
4.5
.6
5.1
569.8
615.2
666.0
37.8
4.3
1. Includes new computers and peripheral equipment only.
NOTE,—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
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.
n.e.c. Not elsewhere classified.
National Data • D-31
SURVEY OF CURRENT BUSINESS
November 1998
Table B.7.—Compensation and Wage and Salary Accruals by Industry
[Millions of dollars]
1996
1997
1995
1996
1997
Total
4,208,870 4,409,048 4,687,227 3,441,903 3,640,421 3,893,552
Domestic industries
4,211,572 4,411,780 4,690,309 3,444,605 3,643,153 3,896,634
Private industries
3,387,953 3,563,288 3,812,807 2,821,887 3,002,276 3,232,458
Agriculture, forestry, and fishing
Farms
Agricultural services forestry, and
fishing
36,988
15,627
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric
equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products ...
Miscellaneous manufacturing
industries
Nondurable goods
Food and kindred products
Tobacco products
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics
products
Leather and leather products
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger
transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines, except natural gas
Transportation services
34,535
14,203
36,611
14,408
18,605
20,332
22,203
26,809
2,515
4,847
15,635
3,812
27,658
2,705
4,739
16,257
3,957
29,935
2,684
4,750
18,292
4,209
157,729
172,253
189,068
877,630
545,567
26,227
16,788
23,959
38,722
63,405
114,334
651,191
397,941
19,399
12,583
17,650
27,962
46,796
82,178
676,711
417,035
20,458
12,986
18,560
28,845
48,517
86,683
720,554
447,678
21,756
13,921
19,575
29,866
51,797
95,263
80,699
57,115
46,843
47,940
87,277
59,791
50,630
50,404
62,580
44,871
36,125
36,963
66,392
46,678
37,255
39,428
72,555
48,708
40,635
41,746
12,979
311,088
60,983
2,932
18,924
20,960
32,886
60,325
65,201
10,744
13,352
317,693
62,316
2,993
18,787
20,350
33,561
62,415
67,460
10,669
14,030
332,063
64,563
3,030
19,457
20,308
34,808
65,957
71,577
11,026
10,834
253,250
49,508
2,209
15,691
17,290
27,039
50,084
52,485
7,804
11,233
259,676
50,745
2,281
15,629
16,800
27,649
51,995
54,617
7,861
11,856
272,876
52,843
2,316
16,196
16,817
28,797
55,218
58,427
8,165
35,262
2,871
36,423
2,719
38,620
2,717
28,771
2,369
29,852
2,247
31,845
2,252
276,425
150,390
15,335
287,024
157,500
15,677
304,209
166,582
15,974
222,041
119,055
11,286
232,331
125,919
11,568
247,490
133,889
11,815
9,303
66,708
7,831
35,720
1,050
14,443
10,002
59,865
7,961
48,000
1,000
14,995
10,559
63,109
8,541
51,066
1,012
16,321
7,662
52,526
6,324
28,408
868
11,981
8,287
47,032
6,485
39,214
828
12,505
8,794
50,493
6,939
41,309
847
13,692
39,623
16,457
42,006
16,849
21,361
23,166
25,157
32,857
3,148
6,138
18,932
4,639
33,639
3,352
5,965
19,544
4,778
36,046
3,321
5,939
21,742
5,044
193,550
208,925
227,550
813,922
502,834
23,790
15,441
22,040
37,102
58,501
100,778
829,590
511,897
24,811
15,756
22,871
37,598
59,883
105,029
77,006
63,604
46,080
45,513
31,941
13,336
1. Consists of museums, botanical and zoological gardens; engineering and management services; and services,
not elsewhere classified.
2. Includes Coast Guard.
. . . . .
3. Beginning with 1993, includes estimates of foreign professional workers and undocumented Mexican migratory
Compensation
Wage and salary accruals
Compensation
1995
Communications .
Telephone and telegraph
Radio and television
Electric, gas, and sanitary services ....
Wage and salary accruals
1995
1996
1997
1995
1996
1997
71,435
53,990
17,445
54,600
74,923
55,989
18,934
54,601
81,661
61,698
19,963
55,966
59,282
44,650
14,632
43,704
62,430
46,500
15,930
43,982
68,416
51,605
16,811
45,185
Wholesale trade
276,103
289,402
310,690
234,475
246,964
266,289
Retail trade
382,895
399,459
421,469
329,863
346,009
366,696
Finance, insurance, and real estate ....
Depository institutions
Nondepository institutions
Security and commodity brokers
Insurance carriers
Insurance agents, brokers, and
service
Real estate
Holding and other investment offices
324,678
80,121
21,684
59,440
72,682
353,791
84,098
25,075
72,090
75,941
384,579
88,915
29,586
81,931
79,931
273,048
65,613
18,319
51,922
60,182
300,194
69,512
21,307
63,625
63,383
327,555
73,794
25,387
72,330
66,907
30,988
42,175
17,588
32,787
44,988
18,812
35,180
48,891
20,145
26,363
35,423
15,226
28,025
37,990
16,352
30,184
41,486
17,467
1,050,535 1,121,835
37,432
35,640
24,872
23,836
193,807
221,435
27,784
30,242
12,059
11,239
16,864
18,613
37,277
34,578
344,286
357,093
58,219
60,101
54,476
51,938
1,208,628
39,606
26,058
256,237
32,184
12,493
20,060
40,646
372,635
63,231
57,683
894,790
30,319
20,757
165,266
23,798
9,646
14,412
29,223
289,645
49,738
44,001
965,621 1,048,260
32,135
34,275
21,831
23,021
190,945
223,291
26,180
28,054
10,445
10,875
17,444
16,030
31,843
34,980
303,770
319,192
51,862
54,852
46,704
49,737
Services
Hotels and other lodging places
Personal services . . .
Business services
Auto repair, services, and parking
Miscellaneous repair services
Motion pictures
Amusement and recreation services ...
Health services
Legal services
Educational services
Social services and membership
organizations
Social services
Membership organizations
Other services *
Private households
Government
Federal
General government
Civilian 2
Military
Government enterprises
State and local
General government
Education
Other
Government enterprises
Rest of the world
Receipts from the rest of the world
Less. Payments to the rest of the world3
Addenda:
Households and institutions
Nonfarm business
91,106
45,464
45,642
149,417
11,821
95,523
47,864
47,659
160,769
11,943
100,368
51,087
49,281
175,437
11,990
78,026
37,970
40,056
128,396
11,563
82,766
40,468
42,298
139,425
11,685
87,633
43,581
44,052
153,175
11,731
823,619
258,024
207,395
124,063
83,332
50,629
565,595
527,777
278,320
249,457
37,818
848,492
263,137
211,310
125,217
86,093
51,827
585,355
546,998
290,385
256,613
38,357
877,502
266,971
213,508
127,483
86,024
53,464
610,531
571,175
304,733
266,442
39,356
622,718
174,778
140,441
84,825
55,616
34,337
447,940
417,438
218,026
199,412
30,502
640,877
175,633
140,449
85,622
54,827
35,184
465,244
434,225
228,386
205,839
31,019
664,176
177,508
141,405
86,375
55,030
36,103
486,668
454,783
240,476
214,307
31,885
-2,702
1,284
3,986
-2,732
1,298
4,030
-3,082
1,252
4,334
-2,702
1,284
3,986
-2,732
1,298
4,030
-3,082
1,252
4,334
345,034
361,412
331,370
3,129,403 3,291,981 3,527,365
workers employed temporarily in the United States.
NOTE.—Estimates in this table are based on the 1987 Standard Industrial Classification (SIC).
Compensation equals wage and salary accruals plus supplements to wages and salaries. "Supplements" are listed
;n table 8.15 of the August 1998 SURVEY OF CURRENT BUSINESS.
SURVEY OF CURRENT BUSINESS
D-32 • National Data
November 1998
Table B.8.—Employment by Industry
[Thousands]
Full-time and part-time
employment
1995
1996
1997
Full-time and part-time
employment
Persons engaged in
production '
1995
1996
124,576
127,015
129,980
121,660
123,917
126,751
Domestic industries
125,146
127,567
130,567
122,148
124,390
127,254
Private industries
103,188
105,606
108,498
103,795
106,057
108,851
2,004
868
1,136
2,079
870
1,209
2,133
876
1,257
3,403
2,000
1,403
3,360
1,859
1,501
3,345
1,846
1,499
Agriculture, forestry, and fishing
Farms
Agricultural services, forestry, and fishing
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals except fuels
Construction
Manufacturing . . .
Durable goods
Lumber and wood products
Furniture and fixtures
Stone clay and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and eQuipment
Electronic and other electric equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
. .
Food and kindred products
Tobacco products
. ...
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics
products
Leather and leather products
Transportation and public utilities
,
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
587
52
106
321
108
583
54
99
321
109
600
53
97
340
110
590
52
103
327
108
586
54
97
327
108
603
53
95
346
109
5,386
5,671
5,951
6,657
6,956
7,247
18,591
10,722
790
512
541
707
1,444
2,070
1,625
970
817
842
404
7,869
1,688
41
664
945
692
1,570
1,039
143
18,575
10,835
801
506
546
709
1,452
2,116
1,659
967
821
855
403
7,740
1,697
41
630
874
682
1,565
1,032
139
18,758
11,054
819
513
555
710
1,485
2,173
1,690
983
858
864
404
7,704
1,694
41
616
829
685
1,577
1,036
137
18,636
10,822
866
525
549
700
1,442
2,084
1,615
963
816
835
427
7,814
1,659
41
661
951
686
1,560
1,036
142
18,583
10,915
859
521
564
707
1,446
2,095
1,654
960
820
850
439
7,668
1,664
40
632
881
677
1,536
1,027
138
18,773
11,134
865
530
565
706
1,481
2,171
1,680
976
855
859
446
7,639
1,676
40
618
831
677
1,560
1,026
135
978
109
981
99
997
92
967
111
971
102
987
89
6,176
3,961
232
420
1,912
178
781
6,294
4,063
224
440
1,658
177
1,119
6,462
4,170
220
457
1,704
183
1,139
6,178
4,048
220
431
2,051
178
734
6,320
4,182
212
444
1,854
174
1,050
6,469
4,279
208
480
1,877
179
1,066
1. Equals the number of full-time equivalent employees plus the number of self-employed persons. Unpaid family
workers are not included.
2. Consists of museums, botanical and zoological gardens; engineering and management services; and services,
not elsewhere classified.
1995
1997
Total
Pipelines, except natural gas
Transportation services
Communications
Telephone and telegraph
Radio and television
Electric, gas, and sanitary services
....
Wholesale trade
Retail trade
Finance, insurance, and real estate
Depository institutions
Nondepository institutions
Security and commodity brokers
Insurance carriers
. . .
Insurance agents, brokers, and service
Real estate
Holding and other investment offices
Services
Hotels and other lodging places
Personal services
Business services
Auto repair, services and parking
Miscellaneous repair services
Motion pictures
.
Amusement and recreation services
Health services
Legal services
Educational services
Social services and membership
organizations
Social services
Membership organizations
Other services2
Private households
Government
Federal
General government
Civilian 3 ..
Military
Government enterprises
State and local
General government
Education
Other
Government enterprises
Rest of the world4
. .
15
423
1,309
916
393
906
1996
14
431
1,349
937
412
882
1997
14
453
1,422
1,004
418
870
Persons engaged in
production '
1995
15
419
1,221
852
369
909
1996
14
434
1,260
874
386
878
1997
14
455
1,325
939
386
865
6,476
6,561
6,740
6,563
6,595
6,735
21,867
22,255
22,620
19,487
19,877
20,272
6,929
2,023
463
553
1,500
732
1,410
248
7,052
2,018
513
581
1,505
746
1,442
247
7,243
2,028
573
630
1,522
767
1,481
242
7,218
1,937
466
621
1,451
856
1,648
239
7,316
1,923
506
647
1,449
873
1,681
237
7,420
1,922
562
680
1,459
877
1,689
231
35,172
1,757
1,300
6,935
1,132
374
507
1,517
9,572
1,056
2,073
36,536
1,794
1,317
7,484
1,205
389
539
1,591
9,813
1,063
2,134
37,991
1,828
1,323
8,161
1,245
389
563
1,668
10,033
1,083
2,196
35,063
1,594
1,783
7,116
1,362
593
544
1,327
8,909
1,173
1,913
36,464
1,631
1,812
7,671
1,480
575
572
1,422
9,174
1,147
1,980
37,987
1,673
1,802
8,293
1,507
588
594
1,513
9,404
1,203
2,017
4,618
2,435
2,183
3,050
1,281
4,759
2,515
2,244
3,202
1,246
4,925
2,622
2,303
3,344
1,233
4,490
2,675
1,815
3,440
819
4,624
2,758
1,866
3,580
796
4,802
2,887
1,915
3,803
788
21,958
5,552
4,570
2,026
2,544
982
16,406
15,482
8,383
7,099
924
21,961
5,386
4,398
1,952
2,446
988
16,575
15,662
8,536
7,126
913
22,069
5,263
4,282
1,899
2,383
981
16,806
15,905
8,751
7,154
901
18,353
4,564
3,764
2,026
1,738
800
13,789
12,903
6,765
6,138
886
18,333
4,415
3,614
1,952
1,662
801
13,918
13,042
6,880
6,162
876
18,403
4,307
3,513
1,899
1,614
794
14,096
13,230
7,044
6,186
866
-570
-552
-587
-488
-473
-503
3. Includes Coast Guard.
4. Beginning with 1993, includes estimates of foreign professional workers and undocumented Mexican migratory
workers employed temporarily in the United States.
NOTE.—Estimates in this table are based on the 1987 Standard Industrial Classification (SIC).
D-33
National Data
SURVEY OF CURRENT BUSINESS
November 1998
Table B.9.—Wage and Salary Accruals Per Full-Time Equivalent Employee and Full-Time Equivalent Employees by Industry
Wages and salaries per
full-time equivalent
Dollars
Total '
Domestic industries . . . .
Private industries
Agriculture forestry and fishing
Farms
Agricultural services, forestry, and fishing
Wages and salaries per
full-time equivalent
Full-time equivalent
employees
Dollars
Thousands
1995
1996
1997
31,014
32,143
33,557
110,980
113,256
116,029
30,902
32,034
33,438
111,468
113,729
116,532
30,305
31,472
32,941
93,115
95,396
98,129
18,200
17,925
18,403
19,017
19,039
19,002
19,951
19,185
20,482
1,755
744
1,011
1,816
746
1,070
1,835
751
1,084
1995
1996
46,624
48,365
47,058
49,635
36,305
48,353
50,093
48,856
51,610
37,330
50,910
50,642
50,000
54,931
39,336
Construction
30,444
31,641
32,944
5,181
5,444
5,739
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures ..
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products
Tobacco products
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics
products
Leather and leather products
35,803
37,684
25,128
25,066
33,302
40,118
32,932
40,067
38,966
46,692
44,654
44,695
28,214
33,200
30,151
53,878
23,992
18,814
39,531
34,541
51,105
54,958
37,256
39,118
26,161
26,129
34,887
40,973
34,047
41,815
40,384
48,724
45,712
46,771
28,951
34,610
30,680
57,025
25,046
19,858
40,901
35,983
53,546
56,964
39,291
41,170
27,470
27,786
35,983
42,363
35,453
44,536
43,420
50,008
47,806
49,113
30,636
36,554
32,007
57,900
26,551
20,943
42,726
37,743
57,338
60,481
18,188
10,560
772
502
530
697
1,421
2,051
1,606
961
809
827
384
7,628
1,642
41
654
919
684
1,450
1,027
142
18,164
10,661
782
497
532
704
1,425
2,073
1,644
958
815
843
388
7,503
1,654
40
624
846
676
1,445
1,020
138
18,339
10,874
792
501
544
705
1,461
2,139
1,671
974
850
850
387
7,465
1,651
40
610
803
674
1,463
1,019
135
29,907
22,140
30,935
23,653
32,462
25,303
962
107
965
95
981
89
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
38,402
32,264
51,300
19,953
29,377
37,868
39,022
39,479
33,285
54,566
20,614
30,343
39,066
37,597
41,030
34,507
56,803
21,038
31,717
40,579
38,934
5,782
3,690
220
384
1,788
167
728
5,885
3,783
212
402
1,550
166
1,043
6,032
3,880
208
418
1,592
171
1,061
572
54
97
315
106
588
53
95
333
107
1. Full-time equivalent employees equals the number of employees on full-time schedules plus the number of
employees on part-time schedules converted to a full-time basis, the number of full-time equivalent employees in
each industry is the product of the total number of employees and the ratio of average weekly hours per employee
for all employees to average weekly hours per employee on full-time schedules.
2. Consists of museums, botanical and zoological gardens; engineering and management services; and services,
Thousands
1995
1996
1997
57,867
30,879
49,525
53,282
40,758
48,831
59,143
31,578
50,756
54,386
42,480
50,438
60,500
32,913
52,872
56,461
44,239
52,663
Wholesale trade
37,812
39,319
41,272
6,201
6,281
6,452
Retail trade
18,296
18,823
19,562
18,029
18,382
18,745
Finance, insurance, and real estate
Depository institutions
Nondepository institutions
Security and commodity brokers
Insurance carriers .
Insurance agents, brokers, and services
Real estate
Holding and other investment offices
41,674
33,909
41,074
97,598
41,476
37,824
28,293
63,707
45,237
36,185
43,395
114,228
43,743
39,639
29,819
68,996
48,283
38,414
46,496
120,349
45,858
41,691
31,863
75,615
6,552
1,935
446
532
1,451
697
1,252
239
6,636
1,921
491
557
1,449
707
1,274
237
6,784
1,921
546
601
1,459
724
1,302
231
Services
Hotels and other lodging places
Personal services ..
Business services .
Auto repair, services, and parking
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
Legal services
Educational services
Social services and membership
organizations
Social services ..
Membership organizations
Other services2 ....
Private households
29,003
19,920
18,224
25,936
22,430
28,122
36,579
23,778
34,092
53,082
24,459
29,973
20,586
18,787
27,774
23,046
29,176
38,076
24,589
34,606
54,939
25,083
31,184
21,435
19,863
29,622
23,795
30,208
39,466
25,664
35,529
57,019
26,013
30,852
1,522
1,139
6,372
1,061
343
394
1,229
8,496
937
1,799
32,216
1,561
1,162
6,875
1,136
358
421
1,295
8,778
944
1,862
33,615
1,599
1,159
7,538
1,179
360
442
1,363
8,984
962
1,912
19,839
17,927
22,069
45,725
14,118
20,361
18,403
22,668
47,055
14,680
20,771
18,915
23,004
49,252
14,887
3,933
2,118
1,815
2,808
819
4,065
2,199
1,866
2,963
796
4,219
2,304
1,915
3,110
788
Federal
General government
Civilian 3
Military
Government enterprises
State and local
General government
Education
Other
Government enterprises
33,930
38,295
37,312
41,868
32,000
42,921
32,485
32,352
32,229
32,488
34,427
34,958
39,781
38,862
43,864
32,989
43,925
33,428
33,294
33,196
33,405
35,410
36,091
41,214
40,252
45,484
34,095
45,470
34,525
34,375
34,139
34,644
36,819
18,353
4,564
3,764
2,026
1,738
800
13,789
12,903
6,765
6,138
886
18,333
4,415
3,614
1,952
1,662
801
13,918
13,042
6,880
6,162
876
18,403
4,307
3,513
1,899
1,614
794
14,096
13,230
7,044
6,186
866
-488
-473
-503
1997
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
575
52
103
315
105
Full-time equivalent
employees
Pipelines except natural gas
Transportation services
Communications ...
Telephone and telegraph
Radio and television
Electric, gas, and sanitary services
Rest of the world4
1995
15
388
1,197
838
359
895
1996
14
396
1,230
855
375
872
1997
14
416
1,294
914
380
858
not elsewhere classified,
3. Includes Coast Guard,
4. Beginning with 1993, includes estimates of foreign professional workers and undocumented Mexican migratory
workers employed temporarily in the United States.
NOTE.—Estimates in this table are based on the 1987 Standard Industrial Classification (SIC).
D-34
SURVEY OF CURRENT BUSINESS
• National Data
Table B.11.—Housing Sector Output, Gross Product, and National
Income
Table B.10.—Farm Sector Output, Gross Product, and National Income
Billions of dollars
1995
Farm output
;
Cash receipts from farm marketings
Crops
Livestock
Farm housing
Farm products consumed on farms
Other farm income
Change in farm inventories
Crops
Livestock
Less: Intermediate goods and services
purchased
Intermediate goods and services, other
than rent
. ...
Rent paid to nonoperator landlords
Equals: Gross farm product
Less' Consumption of fixed capital
Equals: Net farm product
Less: Indirect business tax and nontax
liability
Plus: Subsidies to operators
Equals'. Farm national income . .
Compensation of employees
Wage and salary accruals
Supplements to wages and salaries
Proprietors' income and corporate profits
with IVA and CCAdj
Proprietors' income
Corporate profits
Net interest
196.7
Billions of chained
(1992) dollars
1996
1997
222.1
225.3
194.1
107.2
201.7
108.7
207.2
110,6
87.0
93.0
96.5
5.9
.5
5.5
-9.3
-9.6
.2
6.1
.4
6.3
7.6
8.8
-1.1
6.3
.5
7.1
4.3
5.1
-.7
Billions of dollars
1995
1996
1997
190.7
195.7
208.3
188.8
177.3
191.0
97.1
91.3
87.1
90.6
96.0
95.1
5.2
.5
5.0
-11.0
-9.2
.3
5.1
.4
5.3
7.1
6.5
-1.3
5.0
.4
6.2
4.3
4.2
-.8
124.4
130.5
135.1
118.5
116.9
118.2
109.9
113.5
119.6
104.0
100.7
103.6
14.5
17.0
15.5
14.5
16.4
14.6
72.3
91.6
90.2
72.0
78.6
90.3
24.8
25.8
26.6
22.8
23.2
23.7
47.5
65.9
63.6
49.0
55.2
66.6
5.1
6.1
48.4
15.7
13.3
5.1
6.1
66.9
16.5
14.2
2.4
2.3
40.6
38.9
23.3
22.4
8
17
9.5
9.8
5.5
6.2
64.4
16.9
14.4
Housing output *
Nonfarm housing
Owner-occupied
Tenant-occupied
Farm housing
Less: Intermediate goods and services
consumed
Equals: Gross housing product
Nonfarm housing
Owner-occupied
Tenant-occupied
Farm housing .
.
. ..
Billions of chained
(1992) dollars
1995
1996
1997
1995
1996
1997
723.1
758.4
799.8
663.9
675.8
692.6
717.2
532.4
184.8
5.9
752.3
559.1
193.2
6.1
793.5
590.3
203.2
6.3
658.7
487.4
171.4
5.2
670.7
496.0
174.7
5.1
687.6
508.9
178.7
5.0
88.5
91.1
95.3
82.1
82.7
83.8
634.6
629.6
463.0
166.5
5.0
667.2
662.1
486.4
175.6
5.2
704.5
699.1
513.4
185.8
5.3
581.8
577.4
423.3
154.2
4.4
593.0
588.7
430.5
158.3
4.4
608.7
604.5
441.9
162.6
4.2
126.2
103.7
104.6
107.2
478.3
488.7
501.7
119.6
Less: Consumption of fixed capital
Capital consumption allowances
Less- CCAdj
59.7
63.0
-56.2
-56.5
-59.1
Equals: Net housing product
518.7
547.7
578.3
Less: Indirect business tax and nontax
liability plus business transfer payments ...
116.0
119.9
123.5
20.8
21.9
22.3
423.5
449.6
477.1
8.1
8.5
Plus: Subsidies less current surplus of
government enterprises
Equals: Housing national income
Compensation of employees
Proprietors' income with IVA and CCAdj ...
Rental income of persons with CCAdj
Corporate profits with IVA and CCAdj
Net interest
2.5
37.3
35.5
1.8
115.9
67.1
9.1
25.0
26.5
27.9
105.2
5.0
280.1
119.7
5.2
289.7
127.7
5.5
306.9
10.2
NOTE.-Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
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.
CCAdj Capital consumption adjustment
IVA Inventory valuation adjustment
November
1. Equals personal consumption expenditures for housing less expenditures for other housing as shown in table
2.4.
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
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.
CCAdj Capital consumption adjustment
IVA Inventory valuation adjustment
SURVEY OF CURRENT BUSINESS
November 1998
National Data • D-35
Table 6.12.—Net Stock of Fixed Private Capital, by Type
[Yearend estimates]
Current-cost valuation (billions of dollars)
1992
Fixed private capital .. .
Private producers' durable equipment
Nonresidential equipment
Information processing and related equipment
Office, computing, and accounting machinery
Computers and peripheral equipment
Other office equipment
Communication equipment
Instruments
Photocopy and related equipment
Industrial equipment
Fabricated metal products
Engines and turbines
Steam engines
Internal combustion engines
...
Metalworking machinery
Special industry machinery n e e
General industrial, including materials handling, equipment
Electrical transmission, distribution, and industrial apparatus
Transportation and related equipment
;
Trucks, buses, and truck trailers
Autos
Aircraft
Ships and boats
Railroad equipment .
Other equipment
Furniture and fixtures
Household furniture
Other furniture
Tractors
Farm tractors
Construction tractors
Agricultural machinery, except tractors
Construction machinery, except tractors
Mining and oilfield machinery
Service industry machinery
..:
Electrical equipment, n.e.c
;....
Household appliances
Other
Other nonresidential equipment
Residential equipment
Private structures
Nonresidential structures
Nonresidential buildings excluding farm . . .
Industrial buildings
Office buildings!
Commercial buildings
Mobile structures
Other commercial 2
Religious buildings
Educational buildings
Hospital and institutional buildings
Other
Hotels and motels
Amusement and recreational
buildings
Other nonfarm buildings3
Utilities
Railroad
Telecommunications
Electric light and power
Gas
Petroleum pipelines
Farm related buildings and structures
Mining exploration, shafts, and wells
Petroleum and natural gas
Other mining
Other nonfarm structures4 .
1994
1993
1995
1996
Chain-type quantity indexes (1992=100)
1997
1992
1993
1994
1995
1996
1997
112.54
13,484.1
14,198.8
15,064.5
15,736.1
16,496.7
17,316.3
100.00
101.94
104.15
106.66
109.50
2,642.7
2,742.1
2,881.7
3,040.9
3,180.1
3,322.9
100.00
102.74
106.62
111.65
117.49
124.22
2,590.0
2,686.7
2,823.1
2,980.2
3,116.5
3,257.8
100.00
102.72
106.61
111.67
117.55
124.32
629.0
120.7
101.0
650.4
128.3
107.9
673.8
138.5
118.0
691.7
149.3
128.4
724.0
159.1
138.2
768.3
170.9
149.4
100.00
100.00
100.00
100.00
100.00
100.00
100.00
106.40
120.18
124.20
101.27
102.41
105.34
104.27
113.96
144.51
154.49
101.08
106.50
109.32
109.02
124.85
187.01
208.02
103.44
112.65
112.62
112.48
139.04
253.74
295.81
104.23
120.48
116.24
114.89
155.94
345.30
419.64
107.17
,129.70
120.90
118.15
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
101.38
100.07
102.12
102.13
102.06
100.48
101.85
100.70
102.57
103.55
100.95
104.56
104.33
106.76
102.74
104.03
102.25
105.65
106.41
102.07
105.22
104.65
110.74
106.22
107.82
104.43
108.97
109.17
103.43
105.88
104.99
114.51
109.57
110.85
107.17
112.09
112.33
104.89
105.19
103.91
117.60
113.95
113.94
110.34
115.96
100.00
100.00
100.00
100.00
100.00
100.00
102.30
105.33
100.93
102.25
98.25
99.65
106.91
115.39
109.20
100.57
95.33
100.79
111.71
126.93
112.47
101.75
92.92
102.33
117.10
140.35
116.34
102.22
91.48
103.55
123.22
154.34
118.77
106.08
90.14
105.16
101.19
103.04
100.43
103.21
99.71
100.28
97.68
98.79
99.09
93.67
99.38
104.87
101.98
105.20
103.18
103.29
105.84
101.74
106.12
101.34
102.61
96.85
99.07
100.51
87.79
103.02
107.43
104.43
107.77
106.40
106.40
110.44
104.11
110.86
103.29
105.77
94.52
100.63
102.97
83.98
107.23
110.80
108.68
111.04
109.67
110.23
115.22
107.37
115.73
105.24
108.05
95.31
102.46
106.75
80.12
112.34
116.00
113.47
116.28
114.50
114.82
120.87
110.86
121.53
108.10
111.31
96.82
104.81
111.41
79.64
116.49
122.92
118.62
123.41
120.05
19.7
20.4
20.6
20.9
20.9
21.5
330.8
109.9
333.0
117.9
335.3
124.1
332.2
130.5
346.8
135.8
372.7
140.8
67.5
71.2
75.8
916.8
945.7
991.4
86.7
51.8
47.1
87.0
53.2
48.2
90.3
56.8
51.5
96.1
58.3
52.5
99.1
59.7
53.7
4.7
168.8
199.4
189.0
221.0
5.0
174.4
207.5
194.9
228.7
5.4
183.0
218.2
202.5
240.5
5.7
196.9
232.9
211.8
256.5
6.0
205.6
243.2
220.5
262.1
6.2
214.6
251.2
228.6
269.4
510.0
169.1
107.6
121.2
538.9
185.5
111.7
127.1
581.2
210.1
124.6
129.2
626.6
236.2
130.5
136.3
661.8
260.6
137.0
140.1
692.3
282.3
138.8
146.2
45.1
67.1
45.6
69.0
44.7
72.7
44.8
78.7
45.3
78.7
45.5
79.4
534.2
146.1
9.1
137.0
551.8
153.8
9.4
144.4
576.6
163.0
9.7
153.3
609.4
175.7
640.6
186.5
670.2
196.7
10.6
11.0
165.5
175.9
185.7
54.1
42.4
11.7
64.9
66.0
15.3
60.3
44.6
55.1
43.2
11.9
65.6
66.8
14.6
61.0
47.2
57.2
45.1
12.1
67.1
69.6
14.0
64.5
48.9
59.2
47.2
12.0
70.4
73.0
13.8
69.1
50.8
60.7
48.4
12.4
72.7
77.3
13.5
73.5
52.6
62.6
49.8
12.8
74.9
82.2
13.5
77.0
55.0
79.7
1,052.5
82.4
1,090.1
83.9
1,127.0
102.9
60.3
54.1
40.1
83.0
42.5
87.7
44.0
92.4
45.6
97.5
47.2
49.5
103.8
108.2
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
52.6
55.4
58.6
60.6
63.6
65.1
4.6
4.7
4.9
10.2
5.2
5.4
5.6
100.00
103.36
107.18
111.08
115.01
119.30
10,841.4
11,456.7
12,182.8
12,695.2
13,316.6
13,993.3
100.00
101.75
103.57
105.50
107.67
109.92
4,302.7
4,528.9
4,775.6
4,976.9
5,194.7
5,467.5
100.00
101.16
102.20
103.64
105.29
107.09
2,686.1
613.0
625.4
678.7
6.6
672.1
123.5
108.0
259.8
277.6
139.2
2,834.9
636.2
670.1
717.2
7.2
710.1
129.4
114.7
276.7
290.6
145.9
3,011.3
673.6
707.8
765.0
7.9
757.1
136.6
123.5
297.9
307.0
153.7
3,145.6
700.9
735.3
803.6
8.3
795.3
141.4
130.2
314.6
319.5
161.0
3,306.1
730.0
768.9
851.2
8.7
842.5
147.0
138.9
330.5
339.7
173.4
3,512.9
763.0
816.0
909.1
9.1
900.1
155.3
150.9
351.8
366.8
189.5
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
101.38
100.17
101.51
101.96
101.54
101.97
101.10
102.47
102.72
100.79
101.03
101.25
99.84
102.97
101.44
102.54
103.93
103.27
103.94
102.06
105.40
105.71
101.88
101.79
103.20
100.73
105.07
103.06
104.07
106.60
105.22
106.62
103.23
108.63
109,12
103.73
104.22
106.80
99.59
107.51
104.48
105.99
109.91
107.71
109.94
104.46
112.85
111.58
107.33
109.23
111.56
99.09
110.20
105.37
108.47
113.27
110.77
113.30
106.47
118.26
114.56
111.81
115.14
117.76
98.86
100.00
100.00
100.00
100.00
100.00
100.00
100.59
99.08
101.66
100.86
101.42
100.18
100.76
98.22
103.71
100.77
101.99
100.25
101.39
97.40
105.97
101.42
103.47
100.10
101.98
96.83
108.19
102.12
104.02
100.13
102.25
96.42
110.18
102.14
104.18
100.00
102.10
99.14
98.97
100.48
104.32
101.29
98.31
97.82
101.99
107.95
100.41
97.06
96.42
101.90
111.12
99.99
96.20
95.44
102.08
113.15
99.50
96.38
95.55
102.87
115.61
70.2
68.2
1,062.0
272.4
185.3
423.8
143.1
73.7
71.0
1,120.2
290.1
194.0
443.4
153.0
78.6
74.7
1,159.7
294.0
204.8
459.6
160.0
83.2
75.3
1,204.1
300.3
221.6
476.8
163.8
89.3
77.0
1,235.7
312.4
233.1
482.3
166.1
97.7
79.6
1,269.3
315.5
239.2
496.5
174.2
37.5
39.6
41.2
41.6
41.9
43.8
183.5
259.0
229.3
194.3
260.1
229.2
201.6
274.5
241.6
204.6
284.2
250.6
209.2
299.0
264.4
215.8
316.3
280.1
29.7
31.0
112.1
119.4
32.9
128.4
33.7
34.6
36.2
138.4
144.7
153.3
100.00
100.00
100.00
100.00
100.00
Residential structures
6,538.7
6,927.8
7,407.2
7,718.3
8,121.9
8,525.9
100.00
102.14
104.47
106.72
109.25
111.79
Housing units
Permanent site
1-to-4-unit
5-or-more-unit
Mobile homes
Improvements
Other residential 5
5,327.0
5,226.1
4,465.3
760.7
100.9
1,185.1
5,667.3
5,557.9
4,796.1
761.9
109.4
1,232.6
6,078.4
5,956.2
5,182.3
773.8
122.2
1,299.8
6,320.3
6,187.9
5,395.1
792.8
132.4
1,368.8
6,641.2
6,499.9
5,673.3
826.6
141.3
1,450.8
6,965.1
6,815.5
5,960.2
855.3
149.6
1,529.9
100.00
100.00
100.00
100.00
100.00
100.00
100.00
102.00
102.00
102.37
99.78
102.02
102.83
99.67
104.20
104.17
105.01
99.05
105.56
105.87
98.53
106.34
106.27
107.35
99.61
110.08
108.67
97.93
108.79
108.66
110.00
100.39
115.22
111.64
97.58
111.29
111.10
112.69
101.31
120.49
114.46
97.88
26.6
27.8
1. Consists of office buildings, except those occupied by electric and gas utility companies.
2. Consists primarily of stores, restaurants, garages, service stations, warehouses, and other buildings used for
commercial purposes.
3. Consists of buildings not elsewhere classified, such as passenger terminals, greenhouses, and animal hospitals.
4. Consists primarily of streets, dams, reservoirs, sewer and water facilities, parks, and airfields.
5. Consists primarily of dormitories and fraternity and sorority houses.
29.0
29.3
29.9
30.8
NOTE.—The data in this table are from "Fixed Reproducible Tangible Wealth in the United States: Revised Estimates for 1995-97 and Summary Estimates for 1925-97" in the September 1998 SURVEY OF CURRENT BUSINESS.
n.e.c. Not elsewhere classified.
D-36
SURVEY OF CURRENT BUSINESS
• National Data
November 1998
C. Historical Tables.
The tables in this section are derived from the "Summary National Income and Product Series" tables that were
published in the August 1998 issue of the SURVEY OF CURRENT BUSINESS and from the "Selected NIPA Tables"
that are published in this issue. (Changes in prices are calculated from indexes expressed to three decimal
places.)
Table C.1.—Historical Measures of Real Gross Domestic Product, Real Gross National Product, and Real Gross Domestic Purchases
[Quarterly estimates are seasonally adjusted at annual rates]
Percent change from preceding
npr od
per
Billions of chained (1992) dollars
Year and
quarter
Gross domestic Final sales of Gross national
domestic
product
product
product
Chain-type price indexes
Implicit price deflators
Percent change from preceding period
Implicit price deflators
sales of Gross domestic Gross domestic Gross domestic Gross national
Gross domestic Final
Gross domestic Gross domestic Gross domestic Gross national
domestic
product
product
product
purchases
product
product
product
purchases
product
product
Chain-type price index
1959
2,210.2
2,206.9
2,222.0
22.95
22.44
22.95
22.96
1.0
1.0
1.0
1.0
2,262.9
2,314.3
2,454.8
2,559.4
2,708.4
2,264.2
2,318.0
2,445.4
2,552.4
2,705.1
2,276.0
2,329.1
2,471.5
2,577.3
2,727.8
7.4
2.4
2.3
6.1
4.3
5.8
6.5
1960 .
1961
1962
1963
1964
2.6
2.4
5.5
4.4
6.0
23.27
23.54
23.84
24.12
24.48
22.75
23.00
23.28
23.58
23.94
23.27
23.54
23.84
24.12
24.48
23.28
23.55
23.85
24.13
24.49
1.4
1.2
1.3
1.2
1.5
1.4
1.1
1.2
1.3
1.6
1.4
1.2
1£
12
1.5
1.4
1.2
1.3
1.2
1.5
1965
1966
1967
1968
1969
2,881.1
3,069.2
3,147.2
3,293.9
3,393.6
2,860.4
3,033.5
3,125.1
3,278.0
3,377.2
2,901.4
3,087.8
3,166.4
3,314.5
3,413.3
6.4
6.5
2.5
4.7
3.0
5.7
6.1
3.0
4.9
3.0
24.95
25.66
26.48
27.64
28.94
24.39
25.07
25.83
26.95
28.21
24.96
25.67
26.49
27.64
28.94
24.97
25.68
26.50
27.66
28.96
1.9
2.8
3.2
4.4
4.7
1.9
2.8
3.0
4.2
47
2.0
2.8
3.2
4.4
4.7
2.0
2.8
3.2
4.4
4.7
1970
1971
1972
1973
1974
3,397.6
3,510.0
3,702.3
3,916.3
3,891.2
3,406.5
3,499.8
3,689.5
3,883.9
3,873.4
3,417.1
3,532.1
3,726.3
3,950.1
3,930.2
.1
3.3
5.5
5.8
-.6
.9
2.7
5.4
5.3
-.3
30.48
32.05
33.42
35.30
38.46
29.73
31.32
32.71
34.64
38.17
30.48
32.06
33.42
35.30
38.47
30.50
32.08
33.44
35.32
38.49
5.3
5.2
4.2
5.6
8.9
5.4
5.3
4.5
5.9
5.3
5.2
4.2
5.6
9.0
5.3
5.2
4.2
5.6
8.9
1975
1976
1977
1978
1979
3,873.9
4,082.9
4,273.6
4,503.0
4,630.6
3,906.4
4,061.7
4,240.8
4,464.4
4,614.4
3,903.3
4,118.8
4,314.5
4,543.7
4,687.4
-.4
5.4
4.7
5.4
2.8
.9
4.0
4.4
5.3
3.4
42.09
44.55
47.42
50.88
55.22
41.72
44.15
47.18
50.65
55.22
42.09
44.55
47.43
50.89
55.23
42.11
44.58
47.46
50.92
55.26
9.4
5.8
6.5
7.3
8.5
9.4
5.8
6.5
7.3
8.5
9.4
5.9
6.5
7.3
8.5
1980
1981
1982
1983
1984
4,615.0
4,720.7
4,620.3
4,803.7
5,140.1
4,641.9
4,691.6
4,651.2
4,821.2
5,061.6
4,670.8
4,769.9
4,662.0
4,844.8
5,178.0
-.3
2.3
4.0
7.0
.6
1.1
-.9
3.7
5.0
60.34
66.01
70.18
73.16
75.92
61.10
66.72
70.64
73.31
75.90
60.33
66.01
70.17
73.16
75.92
60.36
66.05
70.21
73.20
75.97
9.3
9.4
6.3
4.3
3.8
9.2
5.9
3.8
3.5
9.2
9.4
6.3
4.3
3.8
9.2
9.4
6.3
4.3
3.8
1985
1986
1987
1988
1989
5,323.5
5,487.7
5,649.5
5,865.2
6,062.0
5,296.9
5,480.9
5,626.0
5,855.1
6,028.7
5,346.7
5,501.2
5,658.2
5,878.5
6,075.7
3.6
3.1
2.9
3.8
3.4
4.6
3.5
2.6
4.1
3.0
78.53
80.58
83.06
86.10
89.72
78.34
80.40
83.11
86.13
89.78
78.53
80.58
83.06
86.09
89.72
78.57
80.62
83.09
86.12
89.75
3.4
2.6
3.1
3.7
4.2
3.2
2.6
3.4
3.6
4.2
3.4
2.6
3.1
3.7
4.2
3.4
2.6
3.1
3.7
4.2
1990
1991
1992
1993
1994
6,136.3
6,079.4
6,244.4
6,389.6
6,610.7
6,126.7
6,082.6
6,237.4
6,368.9
6,551.2
6,157.0
6,094.9
6,255.5
6,408.0
6,619.1
1.2
-.9
2.7
2.3
3.5
1.6
-.7
2.5
2.1
2.9
93.64
97.32
100.00
102.64
105.09
93.83
97.30
100.00
102.48
104.85
93.60
97.32
100.00
102.64
105.09
93.63
97.33
100.00
102.63
105.08
4.4
3.9
2.8
2.6
2.4
4.5
3.7
2.8
2.5
2.3
4.3
4.0
2.8
2.6
2.4
4.3
4.0
2.7
2,6
2.4
1995
1996
1997
6,761.7
6,994.8
7,269.8
6,731.7
6,961.6
7,203.7
6,779.5
7,008.4
7,266.2
2.3
3.4
3.9
2.8
3.4
3.5
107.51
109.54
111.57
107.28
109.18
110.92
107.51
109.53
111.57
107.49
109.50
111.52
2.3
1.9
1.9
2.3
1.8
1.6
2.3
1.9
1.9
2.3
1.9
1.8
2,165.0
2,223.3
2,221.4
2,231.0
2,165.5
2,204.2
2,232.6
2,225.3
2,176.2
2,234.5
2,233.5
2,243.9
8.6
9.2
7.3
5.3
22.86
22.92
22.96
23.05
22.35
22.41
22.45
22.53
22.92
22.91
22.94
23.03
22.93
22.91
22.95
23.04
.8
1.1
.7
1.5
1.1
1.1
.7
1.5
.8
-.3
.6
1.6
.8
-.3
.6
1.6
1960: 1
11
Ill
IV
2,279.2
2,265.5
2,268.3
2,238.6
2,248.5
2,268.4
2,265.1
2,274.7
2,291.6
2,278.2
2,281.6
2,252.7
4.2
3.6
-.6
1.7
23.10
23.21
23.32
23.44
22.57
22.69
22.80
22.92
23.13
23.22
23.32
23.40
23.14
23.23
23.33
23.41
.9
2.0
2.0
2.1
.8
2.1
2.0
2.1
1.8
1.5
1.7
1.4
1.9
1.5
1.7
1.4
1961: 1
II
Ill
IV
2,251.7
2,292.0
2,332.6
2,381.0
2,277.7
2,301.1
2,320.4
2,372.8
2,266.8
2,306.3
2,347.1
2,395.9
2.4
7.4
7.3
8.6
.5
4.2
3.4
9.3
23.48
23.51
23.55
23.61
22.96
22.97
23.01
23.06
23.45
23.51
23.56
23.63
23.46
23.52
23.57
23.64
.7
.5
.7
1.1
.6
.2
.7
.9
.9
1.0
.8
1.2
.9
1.0
.8
1.2
1962: 1
||
Ill
IV
2,422.6
2,448.0
2,471.9
2,476.7
2,400.3
2,440.7
2,462.0
2,478.7
2,437.4
2,464.4
2,488.4
2,495.9
7.2
4.3
4.0
.8
4.7
6.9
3.5
2.7
23.73
23.80
23.86
23.96
23.17
23.24
23.31
23.41
23.75
23.81
23.87
23.94
23.76
23.81
23.87
23.95
2.0
1.1
1.1
1.7
1.9
1.4
1.1
1.8
2.0
1.0
1.0
1.2
2.0
1.0
1.0
1.2
1963: 1
II
Ill . .. .
IV
2,508.7
2,538.1
2,586.3
2,604.6
2,492.4
2,533.8
2,578.0
2,605.3
2,526.9
2,555.5
2,604.0
2,622.9
5.3
4.8
7.8
2.9
2.2
6.8
7.2
4.3
24.03
24.07
24.11
24.26
23.48
23.53
23.58
23.72
24.00
24.07
24.12
24.29
24.01
24.08
24,13
24.30
1.2
.6
.7
2.4
1.3
.8
.9
2.5
1.1
1.1
.8
3.0
1.1
1.1
.8
3.0
1964: 1
II
Ill
IV
2,666.7
2,697.5
2,729.6
2,739.7
2,663.1
2,695.0
2,727.6
2,734.5
2,686.8
2,716.8
2,749.5
2,758.1
9.9
4.7
4.8
1.5
9.2
4.9
4.9
1.0
24.33
24.41
24.53
24.64
23.80
23.89
23.99
24.09
24.35
24.41
24.52
24.64
24.36
24.42
24.53
24.65
1.2
1.3
1.9
1.8
1.3
1.5
1.8
1.6
.9
.9
1.8
2.1
.9
.9
1.8
2.1
1965: 1
II
Ill
IV
2,808.9
2,846.3
2,898.8
2,970.5
2,777.2
2,826.7
2,879.8
2,957.8
2,830.0
2,868.2
2,918.9
2,988.6
10.5
6.4
7.3
7.7
24.76
24.88
25.01
25.16
24.19
24.31
24.44
24.61
24.77
24.88
25.01
25.17
24.78
24.89
25.02
25.18
2.0
2.0
2.1
2.5
1.6
2.0
2.2
2.8
2.0
1.9
2.1
2.6
2.0
1.9
2.1
2.6
1966: 1
II
Ill
IV
3,042.4
3,055.5
3,076.5
3,102.4
3,008.8
3,023.1
3,047.2
3,054.8
3,061.1
3,074.2
3,094.7
3,121.4
10.0
1967: 1
||
III
IV
3,127.2
3,129.5
3,154.2
3,178.0
3,085.6
3,119.0
3,134.2
3,161.5
3,145.9
3,147.7
3,174.4
3,197.5
1959: I
I!
Ill
IV
.
-2.1
11.2
-.3
1.7
8.9
-2.4
.5
-5.1
5.4
7.6
10.3
-1.3
11.3
10.2
9.3
5.8
6.9
7.4
9.0
10.7
1.7
2.8
3.4
7.1
1.9
3.2
1.0
25.30
25.50
25.82
26.03
24.73
24.93
25.22
25.41
25.32
25.53
25.79
26.02
25.34
25.54
25.81
26.03
2.2
3.2
5.1
3.4
1.9
3.2
4.8
3.1
2.5
3.2
4.2
3.5
2.5
3.3
4.2
3.5
3.2
.3
3.2
3.1
4.1
4.4
2.0
3.5
26.16
26.32
26.57
26.87
25.52
25.67
25.92
26.21
26.14
26.31
26.60
26.90
26.15
26.32
26.61
26.91
2.0
2.5
3.9
4.6
1.6
2.5
3.9
4.5
1.9
2.5
4.5
4.6
2.0
2.5
4.5
4.6
SURVEY OF CURRENT BUSINESS
November 199$
National Data •
D-37
Table C.1.—Historical Measures of Real Gross Domestic Product, Real Gross National Product, and Real Gross Domestic Purchases—Continued
[Quarterly estimates are seasonally adjusted at annual rates]
Percent change from preceding
pe iod
Billions of chained (1992) dollars
Year and
quarter
Gross domestic
product
Final sales o
domestic
product
Chain-type price indexes
Implicit price deflators
Percent change from preceding period
Chain-type price index
Gross nationa
product
Gross domestic
product
Final sales o
domestic
product
Gross domestic Gross domestic Gross domestic Gross nationa
purchases
product
product
product
Gross domesti
product
Implicit price deflators
Gross domesti
purchases
Gross domesti
product
Gross nationa!
product
1968' I
II
Ill
IV '".'"".""
3,236.2
3,292.1
3,316.1
3,331.2
3,225.3
3,258.0
3,303.9
3,325.1
3,256.2
3,312.5
3,337.3
3,352.2
7.5
7.
3.0
1.8
8.3
4.
5.8
2.6
27.19
27.50
27.75
28.12
26.52
26.80
27.06
27.43
27.21
27.49
27.75
28.12
27.22
27.50
27.76
28.13
4.8
4.5
3.
5.5
4.
4.
4.
5.
4.
4.
3.
5.
4.8
4.1
3.8
5.5
1969: 1
II
III
IV
3,381.9
3,390.2
3,409.7
3,392.6
3,357.5
3,373.0
3,389.6
3,388.9
3,402.8
3,410.3
3,428.5
3,411.4
6.2
1.0
2.3
4.0
1.9
2.0
28.38
28.74
29.14
29.51
27.66
28.02
28.40
28.77
28.39
28.73
29.14
29.51
28.40
28.75
29.16
29.52
3.7
52
5.7
5.2
3.
5.
5.
5.
3.
5.
5.
5.
3.9
5.0
5.8
5.1
1970: 1
II
Ill
IV
3,386.5
3,391.6
3,423.0
3,389.4
3,397.6
3,391.9
3,421.9
3,414.8
3,406.0
3,411.9
3,442.9
3,407.4
1.(
29.92
30.36
30.60
31.02
29.18
29.59
29.87
30.29
29.94
30.36
30.61
31.02
29.95
30.37
30.63
31.03
5.7
6.0
3.2
5.6
5.
5.8
3.8
5.7
6.
5.7
3.4
5.4
6.0
5.7
3.4
5.4
1971: 1 .
II
Ill
IV
3,481.4
3,500.9
3,523.8
3,533.8
3,458.9
3,481.2
3,509.4
3,549.5
3,503.3
3,524.3
3,544.7
3,556.0
1972: 1
II
Ill
IV
3,604.7
3,687.9
3,726.2
3,790.4
3,608.0
3,665.7
3,700.0
3,784.3
1973: 1
II
Ill
IV
3,892.2
3,919.0
3,907.1
3,947.1
1974: 1
II
III
IV
-2.0
.1
3.7
3J
-3.9
2.3
2.6
1.1
5.3
2.6
3.3
4.7
31.50
31.93
32.25
32.53
30.75
31.18
31.52
31.81
31.50
31.93
32.27
32.54
31.52
31.94
32.29
32.55
6.3
5.7
4.1
3.5
6.2
5.7
4.5
3.7
6.4
5.5
4.4
3.3
6.4
5.5
4.4
3.3
3,627.9
3,710.7
3,751.2
3,815.3
8.3
9.6
4.2
7.1
6.8
6.5
3.8
9.4
33.01
33.23
33.50
33.93
32.28
32.53
32.82
33.23
33.02
33.20
33.49
33.95
33.03
33.22
33.51
33.97
6.0
2.6
3.3
5.2
6.0
3.1
3.6
5.1
6.0
2.2
3.5
5.6
6.1
2.2
3.5
5.6
3,867.0
3,884.5
3,890.9
3,893.1
3,921.5
3,950.4
3,944.1
3,984.4
2.8
—1 £
4^2
9.0
1.|
34.38
34.96
35.63
36.24
33.69
34.33
34.95
35.60
34.36
34.94
35.61
36.29
34.38
34.96
35.63
36.31
5.5
6.9
7.8
7.0
5.6
7.8
7.5
7.6
5.0
6.9
7.9
7.8
5.0
6.9
7.9
7.8
3,908.1
3,922.6
3,880.0
3,854.1
3,889.1
3,899.7
3,882.5
3,822.2
3,952.4
3,964.3
3,917.6
3,886.1
—/
1.1
-1.8
-6.1
36.98
37.79
38.93
40.14
36.55
37.59
38.71
39.84
37.01
37.79
38.96
40.13
37.03
37.81
38.98
40.15
1975: 1 . .
II
Ill
IV
3,800.9
3,835.2
3,907.0
3,952.5
3,848.3
3,887.9
3,922.7
3,966.7
3,827.3
3,861.8
3,936.1
3,987.9
3.7
7.7
4.7
2.8
4.2
3.6
4.6
41.04
41.67
42.44
43.21
40.69
41.34
42.05
42.79
41.05
41.66
42.41
43.19
41.07
41.68
42.44
43.22
1976: I
II
Ill
IV
4,044.6
4,072.2
4,088.5
4,126.4
4,027.0
4,039.1
4,061.7
4,119.0
4,078.8
4,107.9
4,124.8
4,163.7
9.7
2.8
1.6
3.8
6.2
1.2
2.3
5.8
43.68
44.17
44.78
45.56
43.26
43.76
44.42
45.16
43.69
44.15
44.77
45.57
1977: 1
II
Ill
IV
4,176.3
4,260.1
4,329.5
4,328.3
4,161.4
4,228.4
4,270.0
4,303.3
4,219.4
4,302.2
4,371.2
4,365.0
4.9
8.3
6.7
_ -i
4.2
6.6
4.0
3.2
46.31
47.08
47.74
48.55
45.99
46.81
47.55
48.36
1978: 1
II
HI
IV
4,345.5
4,510.7
4,552.1
4,603.7
4,306.0
4,474.6
4,511.6
4,565.4
4,388.6
4,546.1
4,591.1
4,649.0
1.6
1979- I
II
Ill
IV
4,605.7
4,615.6
4,644.9
4,656.2
4,579.0
4,577.0
4,639.2
4,662.5
4,652.6
4,668.7
4,708.8
4,719.5
1980: 1
II . .
Ill
IV
4,679.0
4,566.6
4,562.3
4,651.9
4,675.3
4,579.0
4,637.1
4,676.1
4,743.0
4,625.6
4,617.8
4,696.6
1981: 1
II
Ill
IV
4,739.2
4,696.8
4,753.0
4,693.8
4,692.9
4,699.0
4,702.5
4,672.0
4,787.7
4,742.6
4,801.4
4,747.9
1982: 1
II
Ill
IV
4,615.9
4,634.9
4,612.1
4,618.3
4,655.4
4,651.2
4,616.9
4,681.3
4,658.5
4,682.9
4,651.1
4,655.6
.5
1983: 1
II
Ill
IV
4,663.0
4,763.6
4,849.0
4,939.2
4,719.4
4,785.3
4,860.7
4,919.5
4,700.1
4,804.4
4,891.3
4,983.5
3.9
8.9
7.4
7.7
1984: 1
II
Ill
IV
5,053.6
5,132.9
5,170.3
5,203.7
4,961.0
5,050.0
5,085.6
5,149.9
5,092.6
5,172.4
5,209.5
5,237.5
1985: 1
II
Ill
IV
5,257.3
5,283.7
5,359.6
5,393.6
5,231.7
5,261.0
5,336.9
5,358.0
1986: 1
II
Ill
IV
5,460.8
5,466.9
5,496.3
5,526.8
1987: 1
II
III
IV
1988: I
II
Ill
IV
11.3
11.2
-3.9
1.5
-4'
-2.B
-5.4
8.4
9.0
8.2
8.7
8.2
8.7
11.1
11.9
12.5
12.2
12.9
12.6
9.2
6.3
7.6
7.4
8.8
6.5
7.0
7.2
9.5
6.1
7.4
7.6
9.5
6.1
7.4
7.6
43.72
44.18
44.80
45.60
4.4
4.6
5.7
7.2
4.5
4.7
6.1
6.9
4.7
4.2
5.7
7.3
4.7
4.2
5.7
7.3
46.32
47.07
47.66
48.63
46.34
47.10
47.69
48.66
6.7
6.8
5.7
7.0
7.6
7r
e!5
7.1
6.8
6.6
5.1
8.4
6.7
6.7
5.1
8.4
49.19
50.22
51.11
52.08
49.42
50.41
51.27
52.35
49.45
50.44
51.30
52.39
7.1
8.6
7.3
8.4
7.0
8.6
72
73
6.7
8.2
7.0
8.7
6.7
8.2
7.1
8.7
9.0
9.1
8.8
8.9
8.1
9.1
8.8
8.9
8.1
12.7
13.0
12.9
12.5
3.7
4.6
3.4
4.9
49.39
50.43
51.32
52.37
.2
.9
2.6
1.0
1.2
-.2
5.5
2.0
53.46
54.70
55.82
56.92
53.21
54.52
55.89
57.25
53.51
54.65
55.82
56.92
53.54
54.68
55.85
56.95
8.6
9.6
8.5
8.1
1.1
58.25
59.59
60.93
62.57
58.89
60.41
61.77
63.33
58.18
59.55
61.01
62.59
58.22
59.58
61.05
62.64
9.7
9.6
9.3
11.2
64.19
65.35
66.65
67.85
64.96
66.15
67.27
68.48
64.15
65.37
66.65
67.87
64.20
65.42
66.69
67.91
10.7
7.4
8.2
7.4
7.5
7.0
7.3
7.8
8.0
7.5
5.7
68.85
69.71
70.69
71.46
69.42
70.17
71.10
71.85
68.86
69.72
70.66
71.44
68.91
69.77
70.70
71.47
6.0
5.1
5.7
4.5
5.6
4.4
5.4
4.3
6.0
5.1
5.5
4.4
5.1
5.5
4.4
3.3
5.7
6.4
4.9
72.12
72.84
73.50
74.19
72.33
73.03
73.65
74.24
72.08
72.83
73.48
74.19
72.12
72.87
73.52
74.24
3.7
4.1
3.7
3.8
2.7
3.9
3.4
3.2
3.7
4.2
3.7
3.9
3.7
4.2
3.7
3.9
9.6
6.4
3.0
2.6
3.4
7.4
2.9
5.2
75.00
75.62
76.25
76.82
75.04
75.65
76.19
76.71
75.02
75.58
76.25
76.81
75.06
75.63
76-.29
76.85
4.4
3.3
3.4
3.0
4.4
3.3
2.9
2.7
4.5
3.1
3.5
3.0
4.5
3.1
3.6
2.9
5,280.3
5,310.8
5,378.4
5,417.5
4.2
2.0
5.9
2.6
6.5
2.3
5.9
1.6
77.64
78.25
78.80
79.44
77.38
78.02
78.58
79.37
77.63
78.25
78.76
79.45
77.67
78.29
78.80
79.49
4.3
3.2
2.8
3.3
3.6
3.3
2.9
4.1
4.4
3.3
2.6
3.5
4.3
3.2
2.6
3.5
5,410.5
5,448.4
5,518.2
5,546.6
5,481.1
5,480.1
5,510.4
5,533.1
5.1
.4
2.2
2.2
4.0
2.8
5.2
2.1
79.81
80.26
80.81
81.44
79.77
79.97
80.60
81.25
79.81
80.22
80.84
81.45
79.85
80.26
80.88
81.49
1.9
2.2
2.8
3.2
2.0
1.0
3.2
3.3
1.8
2.1
3.1
3.1
1.8
2.1
3.1
3.0
5,561.8
5,618.0
5,667.4
5,750.6
5,535.8
5,608.4
5,671.5
5,688.3
5,568.7
5,628.7
5,676.0
5,759.6
2.6
4.1
3.6
6.0
-.8
5.4
4.6
1.2
82.11
82.68
83.35
84.08
82.07
82.74
83.44
84.19
82.09
82.68
83.33
84.09
82.12
82.71
83.36
84.12
3.3
2.8
3.3
3.6
4.1
3.3
3.4
3.6
3.2
2.9
3.2
3.7
3.2
2.9
3.2
3.7
5,785.3
5,844.0
5,878.7
5,952.8
5,774.2
5,840.1
5,869.2
5,937.0
5,802.3
5,857.5
5,889.4
5,964.9
2.4
4.1
2.4
5.1
6.2
4.6
2.0
4.7
84.69
85.56
86.67
87.46
84.81
85.68
86.58
87.44
84.67
85.56
86.66
87.44
84.69
85.59
86.69
87.47
2.9
4.2
5.3
3.7
3.0
4.2
4.3
4.0
2.7
4.3
5.2
3.7
2.8
4.3
5.2
3.7
16.1
2.0
-9.3
16.6
-6.0
-.4
8.1
5.2
3.4
7.7
1.4
.5
.3
-3.5
4.9
-4.9
-2.6
-S.5
-1.4
1.7
-2.0
-.4
-2.9
10.2
10.4
10.2
12.0
10.7
9.3
9.2
9.7
9.2
9.7
10.5
10.2
10.8
10.2
10.8
10.7
10.3
10.4
7.8
8.0
7.5,
6.0'
D-38
• National Data
SURVEY OF CURRENT BUSINESS
November 1998
Table C.1.—Historical Measures of Real Gross Domestic Product, Real Gross National Product, and Real Gross Domestic Purchases—Continued
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (1992) dollars
Year and
quarter
6,011.0
6,055.6
6,088.0
6,093.5
1990: 1
II
Ill
IV
6,152.6
6,171.6
6,142.1
6,079.0
1991: 1
II
Hi
IV
1992: 1
II
Ill
IV
6,047.5
6,074.7
6,090.1
6,105.3
6,175.7
6,214.2
6,260.7
6,327.1
1993: 1
II
Ill
IV
6,327.9
6,359.9
6,393.5
6,476.9
1994: 1
II
Ill
IV
6,524.5
6,600.3
6,629.5
6,688.6
1995: 1
II
Ill
IV
6,717.5
6,724.2
6,779.5
6,825.8
6,882.0
6,983.9
7,020.0
7,093.1
7,166.7
7,236.5
7,311.2
7,364.6
7,464.7
7,498.6
7,559.5
1998: 1
II
Ill
....
Chain-type price indexes
Implicit price deflators
Percent change from preceding period
Chain-type price index
Implicit price deflators
sales of Gross national
Gross domestic Final
sales of Gross domestic Gross domestic Gross domestic Gross national
domestic
Gross domestic Final
purchases
product
Gross domestic Gross domestic Gross domestic Gross national
product
domestic
product
product
product
product
product
product
purchases
product
product
product
1989: 1
II
III
IV
1996: 1
II
HI
IV
1997: |
II
III
IV
Percent change from preceding
period
6,023.1
6,065.5
6,101.8
6,112.3
4.0
3.0
2.2
.4
2.2
2.8
3.5
.5
6,172.8
6,188.0
6,155.7
6,111.3
3.9
1.2
-1.9
-4.0
5.0
-1.1
-1
-1.2
88.44
89.40
90.13
90.91
92.01
93.20
94.19
95.14
6,074.3
6,086.4
6,099.2
6,119.5
-2.1
1.8
1.0
1.0
-2.8
2.0
-7
-.1
96.26
97.02
97.70
98.30
6,175.8
6,203.8
6,249.5
6,320.7
6,192.0
6,225.2
6,270.3
6,334.6
6.2
1.8
3.0
4.6
99.14
99.81
100.17
100.88
6,297.3
6,344.9
6,379.3
6,453.8
6,473.0
6,526.7
6,580.4
6,624.8
6,351.3
6,375.9
6,415.3
6,489.7
4.7
2.5
3.0
4.3
.1
2.0
2.1
5.3
-1.5
3.1
2.2
4.8
101.85
102.38
102.83
103.52
6,540.5
6,609.3
6,635.6
6,691.2
3.0
4.7
1.8
3.6
1.2
3.4
3.3
2.7
104.16
104.74
105.39
106.07
6,661.8
6,700.0
6,761.7
6,803.3
6,863.6
6,954.7
6,970.3
7,057.9
7,108.1
7,155.5
7,256.3
7,294.8
6,735.9
6,746.3
6,788.9
6,846.8
6,902.1
6,999.0
7,027.1
7,105.3
7,167.8
7,239.3
7,307.0
7,350.7
1.7
.4
3.3
2.8
2.2
2.3
3.7
2.5
3.3
6.1
2.1
4.2
3.6
5.4
.9
5.1
4.2
4.0
4.2
3.0
2.9
2.7
5.8
2.1
106.74
107.26
107.76
108.30
108.90
109.28
109.77
110.21
110.97
111.45
111.77
112.09
7,372.5
7,456.4
7,499.2
7,455.2
7,485.9
5.5
1.8
3.3
4.3
4.6
2.3
112.33
112.57
112.80
5,970.0
6,010.9
6,063.1
6,070.8
6,144.6
6,127.5
6,126.6
6,108.1
6,065.4
6,095.9
6,085.4
6,083.8
88.47
89.52
90.14
90.98
92.17
93.14
94.32
95.68
96.42
96.95
97.58
98.27
88.45
89.39
90.13
90.88
92.00
93.18
94.14
95.11
88.48
89.42
90.16
90.91
92.04
93.21
94.17
95.13
4.5
4.4
3.3
3.5
4.8
4.8
2.8
3.8
4.7
4.3
3.3
3.4
4.7
4.3
3.3
3.4
4.9
5.2
4.3
4.1
5.4
4.2
5.2
5.9
5.0
5.2
4:2
4.2
5.1
5.2
4.2
4.2
96.27
97.00
97.70
98.31
96.29
97.01
97.71
98.32
4.8
3.2
2.8
2.5
3.1
2.2
2.6
2.9
5.0
3.1
2.9
2.5
4.9
3.1
2.9
2.5
99.04
99.76
100.28
100.92
101.71
102.28
102.64
103.28
103.80
104.46
105.24
105.88
106.47
107.11
107.52
107.99
108.56
108.94
109.34
109.90
99.13
99.79
100.17
100.88
101.84
102.35
102.83
103.51
104.13
104.71
105.39
106.09
99.13
99.79
100.17
100.88
101.84
102.34
102.83
103.50
104.14
104.71
105.38
106.06
3.4
2.8
1.4
2.8
3.2
2.9
2.1
2.6
3.4
2.7
1.5
2.9
3.4
2.7
1.5
2.9
3.9
2.1
1.8
2.7
3.2
2.3
1.4
2.5
3.9
2.0
1.9
2.7
3.8
2.0
, 1.9
2.6
2.5
2.2
2.5
2.6
2.0
2.6
3.0
2.5
2.4
2.2
2.6
2.7
2.5
2.2
2.6
2.6
106.73
107.22
107.72
108.26
108.88
109.21
109.70
110.19
110.95
111.37
111.70
112.03
2.5
2.0
1.9
2.0
2.2
2.4
1.6
1.8
2.5
1.8
1.9
2.0
2.6
1.8
1.9
2.0
2.2
1.4
1.8
1.6
2.1
1.4
1.5
2.1
2.3
1.2
1.8
1.8
2.3
1.2
1.8
1.8
110.51
110.76
111.06
111.34
106.75
107.24
107.75
108.29
108.91
109.24
109.74
110.23
111.00
111.43
111.76
112.08
2.8
1.7
1.2
1.1
2.2
.9
1.1
1.0
2.8
1.6
1.2
1.2
2.8
1.5
1.2
1.2
111.29
111.42
111.55
112.32
112.56
112.79
112.26
112.50
.9
.9
.8
-.2
.4
.5
.8
.9
.8
.8
.9
D-39
National Data
SURVEY OF CURRENT BUSINESS
November 1998
Table C.2.—Real Gross Domestic Product
[Average annual percent change, based on chain-type quantity indexes (1992=100)]
Initial year
Terminal year
1971
1997
..
1996
1995
1994
1993
,
1992
1991
1990
1989
1988
1987
1.
1986
1985
1984
1983
1982
1981
1980
1979
1978
1977
. . . .
1976
1975
1974
1973
1972
2.8
2.8
2.8
2.8
2.8
2.8
2.8
3.0
3.1
3.1
3.0
3.0
3.0
3.0
2.6
2.5
3.0
3.1
3.5
3.6
3.3
3.1
2.5
3.5
5.6
5.5
1972
2.7
2.7
2.7
2.7
2.6
2.6
2.6
2.8
2.9
2.9
2.9
2.9
2.8
2.8
2.4
2.2
2.7
2.8
3.2
3.3
2.9
2.5
1.5
2.5
5.8
1973
2.6
2.6
2.5
2.5
2.5
2.5
2.5
2.7
2.8
2.7
2.7
2.6
2.6
2.5
2.1
1.9
2.4
2.4
2.8
2.8
2.2
1.4
-.5
-.6
1974
2.8
2.7
2.7
2.7
2.6
2.7
2.7
2.9
3.0
3.0
2.9
2.9
2.9
2.8
2.4
2.2
2.8
2.9
3.5
3.7
3.2
2.4
—4
1975
2.9
2.9
2.8
2.9
2.8
2.8
2.9
3.1
3.3
3.2
3.2
3.2
3.2
3.2
2.7
2.5
3.3
3.6
4.6
5.1
5.0
5.4
1976
2.8
2.7
2.7
2.7
2.7
2.7
2.7
3.0
3.1
3.1
3.0
3.0
3.0
2.9
2.3
2.1
2.9
3.1
4.3
5.0
4.7
1977
2.7
2.6
2.6
2.6
2.5
2.6
2.5
2.8
3.0
2.9
2.8
2.8
2.8
2.7
2.0
1.6
2.5
2.6
4.1
5.4
1978
1979
2.6
2.5
2.4
2.4
2.4
2.4
2.3
2.6
2.7
2.7
2.6
2.5
2.4
2.2
1.3
.6
1.6
1.2
2.8
2.5
2.5
2.4
2.4
2.3
2.3
2.3
2.6
2.7
2.7
2.5
2.5
2.4
2.1
.9
-.1
1.0
-.3
1980
2.7
2.6
2.6
2.6
2.5
2.6
2.5
2.9
3.1
3.0
2.9
2.9
2.9
2.7
1.3
.1
2.3
1981
2.7
2.7
2.6
2.6
2.6
2.6
2.6
3.0
3.2
3.1
3.0
3.1
3.1
2.9
.9
1982
3.1
3.0
3.0
3.0
3.0
3.1
3.1
3.6
4.0
4.1
4.1
4.4
4.8
5.5
4.0
1983
1984
3.0
2.9
2.9
2.9
2.9
3.0
3.0
3.6
4.0
4.1
4.1
4.5
5.3
7.0
2.7
2.6
2.5
2.5
2.4
2.5
2.4
3.0
3.4
3.4
3.2
3.3
3.6
1985
2.6
2.5
2.4
2.4
2.3
2.3
2.2
2.9
3.3
3.3
3.0
3.1
1986
2.6
2.5
2.3
2.4
2.2
2.2
2.1
2.8
3.4
3.4
2.9
1987
1988
2.4
2.2
2.1
2.0
1.7
1.6
1.2
2.3
3.4
2.6
2.4
2.3
2.3
2.1
2.0
1.9
2.8
3.6
3.8
1989
1990
2.3
2.1
1.8
1.7
1.3
1.0
.1
1.2
2.5
2.2
2.0
1.9
1.4
.9
-.9
1991
3.0
2.8
2.7
2.8
2.5
2.7
1992
3.1
2.9
2.7
2.9
2.3
1993
3.3
3.1
2.9
3.5
1994
1995
3.2
2.9
2.3
1996
3.9
3.7
3.4
-2.1
Table C.3.—Price Index for Gross Domestic Product
[Average annual percent change, based on chain-type price indexes (1992=100)]
Initial year
Terminal year
1971
4.9
5.0
5.2
5.3
5.4
5.6
5.7
5.8
5.9
6.0
6.1
6.3
6.6
6.9
7.1
7.4
7.5
7.3
7.0
6.8
6.7
6.8
7.0
6.3
4.9
4.2
1997
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
1972
1972
4.9
5.1
5.2
5.3
5.5
5.6
5.8
5.9
6.0
6.1
6.3
6.5
6.8
7.1
7.4
7.7
7.9
7.7
7.4
7.3
7.3
7.5
8.0
7.3
5.6
1973
4.9
5.0
5.2
5.3
5.5
5.6
5.8
5.9
6.0
6.1
6.3
6.6
6.9
7.2
7.6
7.9
8.1
8.0
7.7
7.6
7.7
8.1
9.2
8.9
1974
4.7
4.9
5.0
5.2
5.3
5.5
5.6
5.7
5.8
5.9
6.1
6.4
6.7
7.0
7.4
7.8
8.0
7.8
7.5
7.2
7.2
7.6
9.4
1975
4.5
4.7
4.8
4.9
5.1
5.2
5.4
5.5
5.6
5.7
5.8
6.1
6.4
6.8
7.2
7.6
7.8
7.5
7.0
6.5
6.1
5.8
1976
4.5
4.6
4.7
4.9
5.0
5.2
5.3
5.4
5.5
5.6
5.8
6.1
6.5
6.9
7.3
7.9
8.2
7.9
7.4
6.9
6.5
1977
4.4
4.5
4.7
4.8
4.9
5.1
5.3
5.4
5.5
5.6
5.8
6.1
6.5
7.0
7.5
8.2
8.6
8.4
7.9
7.3
1978
1979
4.2
4.4
4.5
4.6
4.8
4.9
5.1
5.2
5.3
5.4
5.6
5.9
6.4
6.9
7.5
8.4
9.1
8.9
8.5
4.0
4.1
4.3
4.4
4.5
4.7
4.8
4.9
5.0
5.1
5.2
5.5
6.0
6.6
7.3
8.3
9.3
9.3
1980
3.7
3.8
3.9
4.0
4.2
4.3
4.4
4.5
4.5
4.5
4.7
4.9
5.4
5.9
6.6
7.8
9.4
1981
3.3
3.4
3.5
3.6
3.7
3.8
4.0
4.0
3.9
3.9
3.9
4.1
4.4
4.8
5.3
6.3
1982
3.1
3.2
3.3
3.4
3.5
3.6
3.7
3.7
3.6
3.5
3.4
3.5
3.8
4.0
4.3
1983
1984
3.1
3.2
3.3
3.3
3.4
3.5
3.6
3.6
3.5
3.3
3.2
3.3
3.6
3.8
3.0
3.1
3.2
3.3
3.4
3.5
3.6
3.6
3.4
3.2
3.0
3.0
3.4
1985
3.0
3.1
3.2
3.3
3.4
3.5
3.6
3.6
3.4
3.1
2.8
2.6
1986
3.0
3.1
3.3
3.4
3.5
3.7
3.8
3.8
3.6
3.4
3.1
1987
3.0
3.1
3.3
3.4
3.6
3.8
4.0
4.1
3.9
3.7
1988
2.9
3.1
3.2
3.4
3.6
3.8
4.2
4.3
4.2
1989
2.8
2.9
3.1
3.2
3.4
3.7
4.1
4.4
1990
2.5
2.6
2.8
2.9
3.1
3.3
3.9
1991
2.3
2.4
2.5
2.6
2.7
2.8
1992
2.2
2.3
2.4
2.5
2.6
1993
2.1
2.2
2.3
2.4
1994
2.0
2.1
2.3
1995
1.9
1.9
1996
1.9
Table C.4.—Real Gross Domestic Purchases
[Average annual percent change, based on chain-type quantity indexes (1992=100)]
Initial year
Terminal year
1971
1997
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
1972
.
2.8
2.8
2.7
2.7
2.7
2.7
2.7
2.9
3.0
3.0
3.0
3.1
3.0
3.0
2.5
2.3
2.7
2.7
3.3
3.5
3.2
2.7
1.8
2.9
5.2
5.7
1972
2.7
2.6
2.6
2.6
2.6
2.5
2.5
2.7
2.9
2.9
2.9
2.9
2.8
2.8
2.3
2.0
2.4
2.3
3.0
3.1
2.7
2.0
.6
1.6
4.8
1973
2.6
2.5
2.5
2.5
2.4
2.4
2.4
2.6
2.7
2.7
2.7
2.7
2.7
2.6
2.0
1.6
2.1
2.0
2.7
2.8
2.2
1.1
-1.4
-1.5
1974
2.8
2.7
2.7
2.7
2.7
2.6
2.6
2.9
3.0
3.1
3.1
3.1
3.1
3.0
2.4
2.0
2.6
2.6
3.5
3.9
3.4
2.5
-1.3
1975
3.0
2.9
2.9
2.9
2.9
2.9
2.9
3.2
3.4
3.4
3.4
3.5
3.5
3.5
2.9
2.5
3.2
3.4
4.8
5.7
5.9
6.4
1976
2.8
2.8
2.7
2.7
2.7
2.7
2.6
3.0
3.1
3.2
3.2
3.2
3.2
3.1
2.4
1.9
2.6
2.7
4.3
5.3
5.4
1977
2.7
2.6
2.6
2.6
2.5
2.5
2.5
2.8
2.9
3.0
3.0
3.0
2.9
2.8
1.9
1.2
1.9
1.8
3.7
5.3
1978
2.6
2.5
2.4
2.4
2.3
2.3
2.2
2.6
2.7
2.7
2.7
2.7
2.6
2.4
1.2
.2
.9
.1
2.2
1979
2.6
2.5
2.4
2.4
2.3
2.3
2.2
2.6
2.8
2.8
2.8
2.8
2.7
2.5
1.0
-.4
.2
-2.0
1980
2.9
2.8
2.7
2.8
2.7
2.7
2.6
3.1
3.3
3.4
3.5
3.6
3.7
3.6
2.0
.4
2.4
1981
2.9
2.8
2.7
2.8
2.7
2.7
2.7
3.1
3.4
3.5
3.6
3.8
4.0
4.0
1.8
-1.6
1982
3.2
3.1
3.1
3.2
3.1
3.1
3.1
3.7
4.2
4.4
4.7
5.2
5.9
6.9
5.3
1983
3.0
3.0
2.9
3.0
2.9
2.9
2.9
3.5
4.0
4.2
4.6
5.2
6.2
8.5
1984
2.6
2.5
2.4
2.4
2.3
2.2
2.1
2.7
3.1
3.2
3.3
3.6
3.9
1985
2.5
2.4
2.3
2.3
2.1
1.9
1.8
2.5
2.9
3.0
3.0
3.3
1986
2.5
2.3
2.1
2.1
1.9
1.7
1.5
2.3
2.8
2.8
2.7
1987
2.4
2.2
2.1
2.1
1.8
1.5
1.2
2.1
2.8
2.9
1988
2.4
2.2
2.0
1.9
1.5
1.2
.6
1.8
2.7
1989
2.3
2.1
1.8
1.8
1.2
.7
-.4
.8
1990
2.6
2.3
2.0
2.0
1.4
.6
-1.6
1991
3.3
3.1
3.0
3.2
2.9
2,8
1992
3.3
3.1
3.0
3.4
2.9
1993
3.4
3.2
3.0
3.9
1994
3.3
2.9
2.1
1995
3.9
3.6
1996
4.2
SURVEY OF CURRENT BUSINESS
D-40 • National Data
November 1998
Table C.5.—Price Index for Gross Domestic Purchases
[Average annual percent change, based on chain-type price indexes (1992=100)]
Initial year
Terminal year
1971
1997
1996
1995
1994
5.0
5.1
5.3
5.4
5.5
5.7
5.8
5.9
6.0
6.1
6.3
6.5
6.8
7.0
7.3
7.7
7.9
7.7
7.3
7.1
7.1
7.1
7.4
6.8
5.2
4.5
1993
1992
1991
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
1972
1972
1973
5.0
5.2
5.3
5.4
5.6
5.7
5.9
6.0
6.1
6.2
6.4
6.6
6.9
7.3
7.6
8.0
8.2
8.1
7.8
7.6
7.6
7.8
8.4
8.0
5.9
5.0
5.1
5.3
5.4
5.6
5.7
5.9
6.0
6.1
6.3
6.5
6.7
7.0
7.4
7.8
8.2
8.5
8.4
8.1
7.9
8.0
8.4
9.7
10.2
1974
4.7
4.9
5.0
5.2
5.3
5.5
5.7
5.8
5.9
6.0
6.2
6.4
6.8
7.1
7.5
8.0
8.3
8.2
7.7
7.3
7.3
7.5
9.3
1975
4.5
4.7
4.8
5.0
5.1
5.3
5.4
5.6
5.6
5.7
5.9
6.1
6.5
6.9
7.3
7.8
8.1
7.9
7.3
6.7
6.3
5.8
1976
4.5
4.6
4.8
4.9
5.1
5.2
5.4
5.5
5.6
5.7
5.9
6.2
6.6
7.0
7.5
8.1
8.6
8.5
7.7
7.1
6.9
1977
1978
4.4
4.5
4.7
4.8
5.0
5.1
5.3
5.4
5.5
5.6
5.8
6.1
6.5
7.0
7.6
8.4
9.0
9.0
8.2
7.4
4.2
4.4
4.5
4.7
4.8
5.0
5.2
5.3
5.3
5.5
5.7
5.9
6.4
7.0
7.7
8.7
9.6
9.8
9.0
1979
4.0
4.1
4.2
4.4
4.5
4.7
4.8
4.9
5.0
5.1
5.2
5.5
6.0
6.6
7.3
8.6
9.9
10.7
1980
3.6
3.7
3.8
3.9
4.1
4.2
4.3
4.4
4.4
4.4
4.5
4.7
5.1
5.6
6.3
7.5
9.2
1981
3.2
3.3
3.5
3.5
3.6
3.7
3.8
3.9
3.8
3.7
3.7
3.8
4.1
4.4
4.8
5.9
1982
3.1
3.2
3.3
3.3
3.4
3.5
3.6
3.6
3.5
3.4
3.3
3.3
3.5
3.7
3.8
1983
1984
3.0
3.1
3.2
3.3
3.4
3.5
3.6
3.6
3.4
3.3
3.2
3.1
3.4
3.5
3.0
3.1
3.2
3.3
3.4
3.5
3.6
3.6
3.4
3.2
3.1
2.9
3.2
1985
2.9
3.1
3.2
3.3
3.4
3.5
3.7
3.7
3.5
3.2
3.0
2.6
1987
1986
3.0
3.1
3.3
3.4
3.5
3.7
3.9
3.9
3.7
3.5
3.4
2.9
3.1
3.2
3.4
3.6
3.8
4.0
4.1
3.9
3.6
1988
2.9
3.0
3.2
3.3
3.5
3.8
4.1
4.4
4.2
1989
2.7
2.8
3.0
3.2
3.4
3.7
4.1
4.5
1990
2.4
2.6
2.7
2.8
3.0
3.2
3.7
1991
2.2
2.3
2.5
2.5
2.6
2.8
1992
1993
2.1
2.2
2.4
2.4
2.5
2.0
2.1
2.3
2.3
1994
1.9
2.0
2.3
1995
1.7
1.8
1996
1.6
Table C.6.—Real Final Sales of Domestic Product
[Average annual percent change, based on chain-type quantity indexes (1992=100)]
Initial year
1971
1997
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
1972
. .
2.8
2.8
2.8
28
2.8
2.8
28
3.0
3.1
3.1
3.0
3.0
3.0
2.9
27
2.6
30
32
35
35
33
3.0
28
3.4
5.3
5.4
1972
2.7
27
2.6
26
2.6
2.7
27
2.9
2.9
2.9
2.9
2.9
2.8
2.7
25
2.3
27
2.9
32
32
28
2.4
1.9
2.5
5.3
1973
2.6
26
2.5
25
2.5
2.5
25
2.7
2.8
2.8
2.7
2.7
2.6
2.4
22
2.0
24
26
29
28
22
1.5
3
-.3
1974
2.7
27
2.7
27
2.7
2.7
27
2.9
3.0
3.0
2.9
2.9
2.9
2.7
25
2.3
28
31
36
36
31
2.4
9
1975
2.8
28
2.8
28
2.8
2.8
28
3.0
3.1
3.2
3.1
3.1
3.1
2.9
27
2.5
31
35
43
46
42
4.0
1976
2.8
27
2.7
27
2.7
2.7
27
30
3.1
3.1
3.0
3.0
3.0
2.8
25
23
29
34
43
48
44
1977
1979
1978
2.7
26
2.6
26
2.6
2.6
26
2.9
3.0
3.0
2.9
2.9
2.8
2.6
22
1.9
26
3.1
43
5.3
2.6
2.5
2.4
24
2.4
2.4
2.4
2.7
2.8
2.7
2.6
2.6
2.5
2.1
1.5
1.0
17
2.0
34
2.5
2.4
2.4
2.4
2.3
2.3
2.3
2.6
2.7
2.7
2.5
2.5
2.3
1.9
1.1
.3
8
.6
1980
2.6
2.6
2.5
25
2.5
2.5
2.5
2.8
2.9
2.9
2.8
2.8
2.7
2.2
1.3
.1
1.1
1981
2.7
2,7
2.6
26
2.6
2.6
2.6
3.0
3.2
3.2
3.1
3.2
3.1
2.6
1.4
-.9
1982
3.0
2.9
2.9
29
2.9
3.0
3.0
3.5
3.8
3.9
3.9
4.2
4.4
4.3
3.7
1983
1984
2.9
2.9
2.8
28
2.8
2.9
29
3.5
3.8
4.0
3.9
4.4
4.8
5.0
2.8
2.7
2.6
26
2.6
2.6
2.7
3.2
3.6
3.7
3.6
4.1
4.6
1985
2.6
2.5
2.4
24
2.3
2.4
2.3
3.0
3.3
3.4
3.1
3.5
1986
1987
2.5
2.4
2.3
2.3
2.2
2.2
2.1
2.8
3.2
3.4
2.6
2.5
2.4
2.3
2.2
2.1
2.1
2.0
2.9
3.5
4.1
1988
2.3
2.2
2.0
1.9
1.7
1.6
1.3
2.3
3.0
1989
2.3
2.1
1.9
1.7
1.4
1.1
.4
1.6
1990
2.3
2.2
1.9
1.7
1.3
.9
-.7
1991
2.9
2.7
2.6
2.5
2.3
2.5
1992
2.9
2.8
2.6
2.5
2.1
1993
3.1
3.0
2.8
2.9
1994
3.2
3.1
2.8
1995
3.4
3.4
1996
3.5
Table C.7.—Real Disposable Personal Income
[Average annual percent change, based on chained (1992) dollar estimates]
Initial year
lermmai year
1997
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986.
1985
1984
1983
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
1972
1971
2.7
2.7
2.7
2.7
2.8
2.8
2.8
3.0
3.1
3.1
3.1
3.1
3.1
3.2
2.8
2.8
3.0
3.1
3.4
3.5
3.3
3.3
3.1
3.6
5.8
4.6
1972
2.7
2.7
2.7
2.6
2.7
2.7
2.7
2.9
3.0
3.0
3.0
3.0
3.0
3.0
2.7
2.7
2.9
2.9
3.3
3.4
3.0
3.0
2.6
3.1
7.1
1973
2.5
2.5
2.5
2.4
2.5
2.5
2.5
2.7
2.7
2.8
2.7
2.7
2.7
2.7
2.2
2.2
2.4
2.4
2.7
2.6
2.0
1.6
.5
-.7
1974
2.6
2.6
2.6
2.6
2.6
2.7
2.7
2.9
2.9
3.0
2.9
3.0
3.0
3.0
2.6
2.5
2.8
2.9
3.4
3.5
3.0
2.8
1.7
1975
2.7
2.7
2.7
2.7
2.7
2.8
2.8
2.9
3.0
3.1
3.0
3.1
3.2
3.2
2.7
2.7
3.0
3.1
3.8
4.1
3.6
3.9
1976
2.6
2.6
2.6
2.6
2.6
2.7
2.7
2.9
3.0
3.0
2.9
3.1
3.1
3.1
2.5
2.5
2.8
2.9
3.7
4.2
3.2
1977
2.6
2.6
2.6
2.5
2.6
2.6
2.6
2.9
2.9
3.0
2.9
3.0
3.0
3.1
2.4
2.3
2.7
2.8
3.9
5.2
1978
2.4
2.4
2.4
2.4
2.4
2.5
2.4
2.7
2.7
2.8
2.7
2.8
2.7
2.7
1.8
1.6
1.9
1.7
2.7
1979
2.4
2.4
2.4
2.4
2.4
2.4
2.4
2.7
2.7
2.8
2.7
2.8
2.7
2.7
1.6
1.2
1.5
.6
1980
2.5
2.5
2.5
2.5
2.5
2.6
2.6
2.9
3.0
3.1
3.0
3.1
3.2
3.3
1.9
1.5
2.3
1981
2.5
2.5
2.5
2.5
2.5
2.6
2.6
2.9
3.1
3.2
3.1
3.3
3.4
3.6
1.7
.8
1982
2.7
2.7
2.7
2.6
2.7
2.8
2.8
3.2
3.4
3.6
3.5
4.0
4.3
5.0
2.7
1983
2.7
2.7
2.7
2.6
2.7
2.8
2.8
3.3
3.5
3.8
3.8
4.4
5.1
7.4
1984
2.3
2.3
2.2
2.2
2.2
2.3
2.2
2.6
2.8
3.0
2.6
2.9
2.9
1985
2.3
2.2
2.2
2.1
2.1
2.2
2.1
2.5
2.7
3.0
2.4
2.9
1986
2.2
2.1
2.1
2.0
1.9
2.1
1.9
2.4
2.7
3.0
1.9
1987
2.2
2.2
2.1
2.0
2.0
2.1
1.9
2.6
3.0
4.1
1988
2.0
1.9
1.8
1.7
1.5
1.6
1.2
1.9
2.0
1989
2.0
1.9
1.8
1.6
1.4
1.4
.8
1.8
1990
2.1
2.0
1.8
1.5
1.3
1.3
-.1
1991
2.4
2.4
2.3
2.1
2.0
2.7
1992
2.4
2.3
2.1
1.8
1.3
1993
2.7
2.6
2.5
2.3
1994
2.8
2.8
2.8
1995
2.8
2.8
1996
2.8
D-41
National Data
SURVEY OF CURRENT BUSINESS
November 1998
D. Domestic Perspectives.
This table presents data collected from other government agencies and private organizations, as noted. Quarterly
data are shown in the middle month of the quarter.
Table D.1.—Domestic Perspectives
1998
1997
1997
1996
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
May
Apr.
June
July
Aug.
Sept.
!
Consumer and producer prices, (seasonally adjusted)
Consumer price index for all urban consumers,
1982-34=100:
All items .
Less food and energy
Services
156.9
165.6
174.1
160.5
169.5
179.4
160.9
170.1
180.0
161.3
170.4
180.4
161.6
170.8
181.0
161.8
171.0
181.4
161.9
171.4
181.7
161.9
171.7
181.9
162.0
172.2
182.3
162.0
172.4
182.7
162.4
172.9
183.4
162.9
173.3
183.9
163.0
173.5
184.1
163.3
173.8
184.4
163.6
174.2
184.8
163.6
174.5
185.2
Producer price index, 1982=100:
Finished goods
Less food and energy
Finished consumer gooas
Capital equipment
Intermediate materials
Crude materials
131.3
142.0
129.5
138.3
125.7
113.8
131.8
142.4
130.2
138.2
125.6
111.1
131.3
142.2
129.5
138.1
125.3
106.8
131.8
142.7
130.1
138.4
125.5
108.2
131.8
142.6
130.3
138.0
125.4
113.2
131.6
142.5
130.0
137.9
125.6
115.0
131.4
142.4
129.8
137.7
125.3
108.6
130.6
142.4
128.8
137.6
124.5
102.3
130.5
142.5
128.6
137.6
124.1
100.4
130.4
143.2
128.5
137.7
123.6
130.6
143.4
128.9
137.6
123.7
100.5
130.7
143.4
129.0
137.4
123.6
100.1
130.4
143.4
128.6
137.4
123.1
130.7
143.6
129.0
137.5
123.1
130.2
143.5
128.4
137.1
122.7
130.6
144.1
128.9
137.6
122.5
98.4
96.6
94.0
92.5
-0.04
.80
-0.28
.24
-0.30
.44
-0.27
.39
-0.30
.69
0.27
1.21
99.2
Money, interest rates, and stock prices
Money stock (seasonally adjusted):2
Percent change:
M1
M2
Ratio:
Gross domestic product to M1
Personal income to M2
Interest rates (percent, not seasonally adjusted):2
Federal funds rate
Discount rate on new 91 -day Treasury bills
Yield on new high-grade corporate bonds
10-Year U.S. Treasury bonds
Yield on municipal bonds, 20-bond average
Mortgage commitment rate
Average prime rate charged by banks
Index of stock prices (not seasonally adjusted):3
500 common stocks 1941-43=10
.82
-0.71
.55
-0.16
.50
0.51
.60
.56
-0.22
.62
0.68
0.63
0.26
.81
0.42
.70
6.925
1 715
7.580
1 725
7.660
1 725
1 721
1 719
7.722
1 718
1 712
1 712
1707
1702
1693
1696
1693
1693
7966
1.688
1.671
5.30
5.02
7.62
6.44
5.76
7.80
8.27
5.46
5.07
7.40
6.35
5.52
7.60
8.44
5.54
5.13
7.30
6.30
5.41
7.48
8.50
5.54
4.97
7.04
6.21
5.39
7.43
8.50
5.50
4.95
6.90
6.03
5.38
7.29
8.50
5.52
5.15
6.79
5.88
5.33
7.21
8.50
5.50
5.16
6.68
5.81
5.19
7.10
8.50
5.56
5.09
6.62
5.54
5.06
6.99
8.50
5.51
5.11
6.66
5.57
5.10
7.04
8.50
5.49
5.03
6.63
5.65
5.21
7.13
8.50
5.45
5.00
6.59
5.64
5.23
7.14
8.50
5.49
5.03
6.63
5.65
5.20
7.14
8.50
5.56
4.99
6.43
5.50
5.12
7.00
8.50
5.54
4.96
6.35
5.46
5.14
6.95
8.50
5.55
4.94
6.34
5.34
5.10
6.92
8.50
5.51
4.74
6.27
4.81
4.99
6.72
8.49
670.83
872.72
927.74
937.02
951.16
938.92
962.37
7.833
7.784
963.36 1,023.74 1,076.83 1,112.20 1,108.42 1,108.39 1,156.58 1,074.62 1,020.64
Labor markets (thousands, seasonally adjusted, unless otherwise noted) J
Civilian labor force
Labor force participation rates (percent):
Males 20 and over
*
Females 20 and over
16—19 years of age
Civilian employment
Ratio, civilian employment to working-age
population (percent)
Persons engaged in nonagricultural activities
Employees on nonagricultural payrolls
Goods- producing industries
Services-producing industries
Average weekly hours, manufacturing (hours)
Average weekly overtime hours, manufacturing
(hours)
Number of persons unemployed
Unemployment rates (percent):
Total
..
15 weeks and over
Average duration of unemployment (weeks)
Nonfarm business sector, 1992=100:
Output per hour of all persons
Unit labor costs
Hourly compensation
See footnotes at the end of the table.
133,943 136,297 136,404 136,439 136,406 136,864 137,169 137,493 137,557 137,523 137,242 137,364 137,447 137,296 137,415 138,075
76.8
59.9
52.3
77.0
60.5
51.6
76.9
60.6
51.0
76.8
60.6
51.0
76.8
60.5
50.9
77.0
60.4
51.8
77.0
60.7
51.6
77.1
60.6
53.1
76.9
60.6
53.3
76.7
60.7
53.5
76.9
60.3
51.8
76.8
60.4
52.3
76.7
60.4
53.0
76.9
60.1
51.9
76.5
60.4
52.4
76.7
60.4
53.8
126,708 129,558 129,747 129,761 129,910 130,575 130,777 131,083 131,163 130,994 131,383 131,453 131,209 131,067 131,168 131,765
63.2
63.8
63.8
63.7
63.8
64.0
64.1
64.2
64.2
64.0
64.2
64.2
64.0
63.9
63.8
64.1
123,264 126,159 126,368 126,339 126,583 127,191 127,392 127,764 127,829 127,862 128,033 128,118 127,867 127,626 127,640 128,247
119,608 122,690 122,894 123,280 123,568 123,944 124,289 124,640 124,832 124,914 125,234 125,562 125,751 125,869 126,178 126,247
24,493 24,934 24,972 24,993 25,032 25,099 25,193 25,297 25,314 25,276 25,339 25,301 25,304 25,135 25,255 25,219
95,115 97,756 97,922 98,287 98,536 98,845 99,096 99,343 99,518 99,638 99,895 100,261 100,447 100,734 100,923 101,028
41.6
42.0
41.9
41.9
42.0
42.1
42.2
42.1
42.0
41.8
41.4
41.8
41.8
41.7
41.7
41.7
4.5
4.8
4.8
4.7
4.8
4.9
4.9
4.9
4.8
4.8
4.5
4.6
4.6
4.6
4.6
4.5
7,236
6,739
6,657
6,678
6,496
6,289
6,392
6,409
6,393
6,529
5,859
5,910
6,237
6,230
6,247
6,310
5.4
1.7
4.9
1.5
4.9
1.5
4.9
1.5
4.8
1.5
4.6
1.4
4.7
1.4
4.7
1.3
4.6
1.3
4.7
1.3
4.3
1.0
4.3
1.1
4.5
1.2
4.5
1.2
16.7
15.8
15.8
103.7
106.5
110.4
105.1
109.0
114.5
105.6
108.8
114.9
15.9
16.3
15.6
1059
109.9
116.3
16.3
15.6
15.6
106.8
110.2
117.6
14.3
14.3
14.6
106.8
111.2
118.8
13.8
14.3
4.5
1.2
13.5
4.6
1.2
14.3
SURVEY OF CURRENT BUSINESS
D-42 • National Data
November 1998
Table D.1.—Domestic Perspectives—Continued
1997
1996
1998
1997
Aug.
Sept.
Nov.
Oct.
Jan.
Dec.
Mar.
Feb.
Apr.
May
June
July
Aug.
Sept.
Construction (seasonally adjusted at annual rates)4
Total new private construction put in
place (billions of dollars)
Residential
Nonresidential
446.3
256.5
150.4
471.2
265.6
165.1
475.5
263.5
170.0
475.9
266.1
167.3
477.5
268.6
166.4
475.3
268.9
164.8
478.4
273.0
164.9
487.8
279.0
167.6
490.9
282.5
167.0
494.3
286.0
165.4
500.1
289.7
169.4
496.5
288.0
166.3
503.6
291.9
169.6
510.6
299.2
169.1
511.7 511.7
299.5 302.7
169.2 166.0
Housing starts (thousands of units):
Total
1-unit structures
1,477
1,161
1,474
1,134
1,383
1,076
1,501
1,174
1,529
1,124
1,523
1,167
1,540
1,130
1,545
1,225
1,616
1,263
1,585
1,239
1,546
1,237
1,538
1,224
1,620
1,269
1,704
1,300
1,616 1,576
1,253 1,246
757
804
799
809
805
875
805
878
836
892
919
873
New 1 -family houses sold
(thousands of units)
853
892
830
822
Manufacturing and trade, inventories and sales (millions of dollars, seasonally adjusted)4
Inventories:
Total manufacturing and trade
Manufacturing
Merchant wholesalers
Retail trade
1,009,647 1,053,078 1,035,510 1,043,131 1,046,871 1,050,183 1,053,078 1,055,034 1,062,460 1,068,754 1,070,555 1,070,022 1,070,515 1,070,875 1,074,001
436,729 456,133 451,737 452,224 455,553 457,766 456,133 458,197 461,178 461,948 464,668 465,729 466,701 467,636 468,399
256,442 273,298 264,516 268,772 269,182 270,955 273,298 272,130 275,750 277,624 275,933 277,699 277,518 277,466 280,007
316,476 323,647 319,257 322,135 322,136 321,462 323,647 324,707 325,532 329,182 329,954 326,594 326,296 325,773 325,595
Sales:
Total manufacturing and trade
Manufacturing
Merchant wholesalers
Retail trade
8,578,039
3,715,460
2,401,383
2,461,196
8,995,737
3,929,419
2,500,109
2,566,209
751,509
328,250
206,868
216,391
759,616
333,422
210,706
215,488
757,474
332,321
210,040
215,113
755,731
331,404
208,413
215,914
763,107
336,424
209,816
216,867
761,165
331,937
210,224
219,004
768,061
335,883
211,312
220,866
773,877
338,991
213,781
221,105
772,160
335,553
213,900
222,707
772,405
333,622
213,413
225,370
774,639
335,110
213,904
225,625
773,762
335,380
214,229
224,153
772,524
336,692
211,585
224,247
I
Industrial production indexes and capacity utilization rates (seasonally adjusted)2
Industrial production indexes,
1992=100:
Total
By industry:
Durable manufactures
Nondurable manufactures ....
By market category:
Consumer goods
Capacity utilization rates (percent):
Total industry
Manufacturing
118.5
124.5
125.2
125.6
126.5
127.5
127.9
127.8
127.3
128.0
128.4
128.8
127.5
127.0
129.0 128.7
131.7
108.0
142.3
111.1
144.3
111.0
144.4
111.3
145.5
112.2
147.7
112.6
148.6
112.9
148.3
113.6
147.8
113.0
148.6
112.6
149.7
113.2
150.2
112.9
147.6
112.0
146.3
112.2
152.1 151.1
111.6 111.3
111.8
114.4
114.6
114.5
115.9
116.7
115.9
116.6
115.1
116.0
116.5
116.7
115.3
114.4
116.6 116.1
82.4
81.4
82.7
81.7
82.8
81.8
82.7
81.6
83.0
81.9
83.3
82.3
83.3
82.3
82.2
81.4
82.4
81.2
82.4
81.4
82.4
81.1
81.2
79.7
82.9
82.1
:
2
Credit market borrowing (billions of dollars, seasonally adjusted at annual r ates)
All sectors, by instrument:
Total
Open market paper
U.S. government securities
Municipal securities
Corporate and foreign bonds ...
Bank loans nee
Other loans and advances
Mortgages
Consumer credit
Sources:
1. Bureau of Labor Statistics
2. Federal Reserve Board
1,358.9
102.6
376.5
2.6
308.0
1,469.7
184.1
235.9
71.4
1,516.2
171.7
191.3
88.9
1,985.1
257.7
3389
1032
325.9
345.5
129.7
101.8
348.8
113.3
422.0
452.6
186.4
195.3
413.1
88.8
52.5
50.3
37.8
92.1
62.5
416.6
62.2
1,828.2
347.3
196.0
116.7
487.5
2,019.6
116.6
343.8
86.1
106.4
442.3
627.4
185.3
106.1
495.8
51.7
58.6
80.4
3. Standard and Poor's, Inc.
4. Bureau of the Census
n.e.c. Not elsewhere classified
80.6
79.1
81.6
80.3
81.1
79.6
National Data
SURVEY OF CURRENT BUSINESS
November
D-43
E. ChartSPercent changes shown in this section are based on quarter-to-quarter changes and are expressed at seasonally
adjusted annual rates; likewise, levels of series are expressed at seasonally adjusted annual rates as appropriate.
SELECTED NIPA SERIES
Chained (19%) dollars
Apr Feb
Dec Nov
30000
RESbGROSS DOMESTIC PRODUCT PER CAPfR
Nov
Mar
Jly Mar
30000
28000-
-28000
26000-
-26000
24000-
-24000
22000-
-22000
20000
-20000
18000-
-18000
16000-
-16000
14000-
-14000
12000
|6i| lea] [es]
59]
\67\
\e9\
(711 |73| \75
Apr Feb
Dec Nov
Nov Mar
REifeSROSS DOMESTIC PRODUCT (PERCENTCHANGE)
IT/! |»| Isil |as|
JanJyJIy
Nov
12000
85
•I
91 I
|93|
|95|
Jy Mar
20
15 -
-15
10 -
-10
5-
- 5
illi
IlllJlillJlllllllllll - 0
- -5
it/:
-10
59|
J6l|
-10
(63|
|65|\G7\\69\
\71\
U.S. Department of Commerce, Bureau of Economic Analysis
\73\
\7S
93
96
97
D-44 • National Data
SURVEY OF CURRENT BUSINESS
November 1998
SELECTED NIPA SERIES
P8fC6nt
60
Apr Feb
Dee Nov
Nov
JanJy Jty
Mar
Nw
Jy Mar
60
OF FEDERAL GOVERNMENT
Personal tax and nontax
50 -
- 50
40 -
-40
30 -
- 30
20
-20
10
- 10
Indirect business ttxes
59]
70
60
1 61 1 leal
jest
|67J
lea!
|?i| ITS!
|?s| IT?! \79\
Apr Feb
Dec Nov
Nov Mar
SHAH OF FEDERAL GOVERNMENT CURRENf EXPENDITURES
P
. $?
|si| Iss
JanJy Jy
la?!
lasl
Nov
|ai|
\S3\ \K\
\sr\
Jy Mar
70
-•>
-60
50 -
-50
40 -
-40
30 -
-30
20 -
-20
GMHto State and local governments
10 -
-10
Net interest
0
79
81|
JanJtyJIy
|83|
|8s|
|S7|
\89\
Nov_
|91 |
1 93 1
Jy Mar
RAnHdVERNMENT SURPLU&DEFICIT (NIPAjfS GROSS DOMKIK PRODUCT
fell
leal
jesl
fe?!
fral
[TI]
U& Department of Commerce, Bureau of Economic Analysis
[73]
|75|
IT?! [79f
|ei| lesj
|ss| W
89|
|9l|.
|93|
|95|
1971
National Data •
SURVEY OF CURRENT BUSINESS
November 1998
D-45
SELECTED NIPA SERIES
Percent ADT Fab
25
RA1
Dec N o v N o v
JanJIvJIv
Mai
V';
-"' ~
20-
Nov
\
Jv Mar
25
-20
/'X Gross saving
15-
-15
Corporate and other private saving .
• "
__
''
10-
Gross government saving
59|
61
63
65
67
Percent
Anr Fab
25
71
Dae No»
73
Nov
75
77
79
81
JanJIvJIv
Mar
83
85
|93|
87
|95|
|97|
Nov
25
RAI^PNVESTMENT TO GROSS NATIONAL PH&OUCT
^^-^^
20-
-20
Gross investment
-15
15-
Gross private domestic investment
10-
-10
Gross government investment
71
Percent
60
73
to Feb
Dec Nov
Nov
SHAf«S OF GROSS PRIVATE DOMESTIC FIXEBWESTMENT ' •
75
77
79
81
JanJyJy
Mar
1831
85
|93|
87
|95|
|97|
Jv Mar
Nov
60
-50
50 -I
Producers' durable equipment, nomsidential
40-
-40
Residential investment
30-
-30
20
-20
10
-10
I |63| |65|
|671 |60|
|71
U.S. Department at Convnerce, Bureau of Economic Analysis
73|
|75|
|77|
|79|
|83|
|85|
|87|
91
93
95
97
SURVEY OF CURRENT BUSINESS
D-46 • National Data
November 1998
SELECTED NIPA SERIES
SHARES OF NATIONAL INCOME
1959
1997
Wage and salary
accruals, 58.6%
Net interest, 2.5%
Net interest 6.5%
Corporate profits
with IVA and CCAdj, 12.8%
Corporate profits
with IVA and CCAdj, 12.3%
Supplements to
wages and salaries, 5.2%
Rental Income of persons
wthlVA,2.4%
with IVA and CCAdj, 8.3%
Proprietors' income
with IVA and CCAdj, 12.5%
SHARES OF GROSS DOMESTIC PRODUCT BY SECTOR
1959
1997
Business, 86.1%
Business, 84.3%
General
government 11.4%
General
government 11.3%
Households and
institutions, 2.4%
Households and
institutions, 4.5%
SHARES OF GROSS DOMESTIC PURCHASES
1959
Personal
consumption
experxftures, 62.5%
Nonresidential
investment, 10.0%
Residential investment 5.5%
1997
Government consumption
expenditures and gross
investment, 17.7%
Government consumption
expenditures and gross
investment 22.0%
U.S. Department of Comrmrc*. Bureau of Economic Analytic
Personal
consumption
expenditures, 67.0%
Nonresidential
investment 11.3%
Residential investment 4.0%
SURVEY OF CURRENT BUSINESS
November 1998
National Data •
D-47
SELECTED NIPA SERIES
Percent
Dec Nov
60
JanJIyJIy
Nw Mar
Nw
Jy Mar
60
3 OF GROSS DOMESTIC PRODUCT BYlpE OF PRODUCT^
Output of services ,v.
50-
-50
40-
-40
30-
-30
20-
-20
Output of structures--,
10-
-10
ei|
[esl
fes]leT][eg]ITI]\73\
Dee Nw
AS SHARE OF GROSS DOMESTIC
AS SHARE OF GROSS DOMESTIC
Apr Fab
14
Nw
ITS]
ITT]
Mar
[79]
M [ s s l I B S ] | 8 7 | fwl
JanJIyJIy
Nw
|9i[
(93)
J95J
J97J
Jly Mar
12 10 8 -
6 _
-6
4 _
-4
OT| fei]
60
lea]
TI I ITS! |TS|
ra IT?! (791 |ai| leal |ss| IB?! lag] |9ii |ga| Issl (97!
fesl
Nw Mar
Apr Fab
Dec Nw
SHAH OF PERSONAL CONSUMPTION EXPENOTURES BY TYPE OF PRODUCT
T
«
50-
'>
JanJIyJIy
Nw
Jy Mar
60
- '
-50
40-
-40
30-
-30
•v-M*.
tf
20'
Durable goods
10
20
10
59|
1611
|63|
1651
|67|
r''i i— r-t —|—I—I—
|711
|73|
|?i| |73|
Izsl \rr\ \n\
|69||
US. Departmant o( Comnwrc*, Bureau of Economic Analysis
v- i—i i i i i i i T i i i i i i i
|si| IBS) jasl Is?! leg] |si| |93| |95| .|97|
D-48
• National Data
SURVEY OF CURRENT BUSINESS
November
SELECTED NIPA SERIES
Psfcont
20
*iv Fah
Nay
JanJhf.lK/
Mar
Nnii
20
IN, DOMESTIC NONFINANCIALOnrORATIONS* -' .
16-
-16
12-
-12
'Ratio of corporate profteper unit to cost and profit per unit
9|
1611
1631
1651
[671
Aor Feb
|69|
|71 |
Dae Nov
|73|
|75|
\T7\
Nov Mar
|79|
|8l|
JanJv Jv
|83|
|85|
|87|
189|
Nov
|9l|
|93|
J95J
197|
.an ifar
Nonfarniinventotfesto
final sales of gOWb and structures
4-
-4
Inventories to
final sales o( domestic business
3-
-3
Nonfamn inventories to
final sales of ttrnestic business
"Based on currBnt-dollpsslimates of inventories and sales
»|
Ratio
S
1611
|63|
1651
|67|
Aor Feb
|69|
|71 |
Dee Nov
|73|
Nev
\TS\
\77\
Mar
\79\
|8l|
JanJIvJtv
\B3\
\ 851
|87|
Nov
189|
|911
193|
|9S|
Jlv Mar
INVHORY/SALES RATIOS, REAL1
Nonfarrn inveitQries to
final sales of jpods and structures
4-
-4
3-
Nonfarminvintoriesto
final sales of;domestic business
2-
-2
•Based on chained (1992) dolljgysliniales of inventories and sates
|63|
1 65 [
|67|
|73|
|75|
|77|
|79|
|83|
|85|
|87|
911
93
95
97
National Data
SURVEY OF CURRENT BUSINESS
November 1998
OTHER INDICATORS OF THE DOMESTIC ECONOMY
JvMar
JvMar
pfwoucER PRICE IDEX'^ERCENT CHANGE)
MER PRICE iO^ERCENT CHANGE)
I
II
I I I I I I I I I I I I I I I I I I I I I I
73 75 77 79 81 83 85 87 89 91 93 95 97
I 1 I I I I I I 71 I- I I I I I IT I I I
73 75
Hours
WEEKLY MOIM MANUFACTURING
-D NovMar
77 79 81
83 85 87
89
JanJhJhNny
JhUtt
w
AVERAGE WEEKLY O/EBftWE HOURS, MANUFACWlING
4-
3-
7 I I I I I I I I I II
73 75
US. DapwftMnt of Commere*. Burew ol Economic Analysis
77 79 81
83 8
89
III
91 93 95 97
D-49
D-50 • National Data
SURVEY OF CURRENT BUSINESS
November
OTHER INDICATORS OF THE DOMESTIC ECONOMY
18
JyMar
JanJtyJIyNov
INTEREST RATES
1510-Year Treasury Bonds
12-
9-
6-
3-
wwwwyyy
IKMEY SUPPLY (PEhcENT CHANGE)
SALES OF NEW ONE-FAMttY HOUSES
200-
uwy
De^rtmentolCqnxiwre*. Bureau of Economic Analytic
I I I I I I I I I I I I I I I I I I I I I I I I I
73 75 77 79 81 83 85 87 89 91 93 95 97
D-51
International Data
SURVEY OF CURRENT BUSINESS
November 1998
International Data
F. Transactions Tables.
Table F.i includes the most recent estimates of U.S. international trade in goods and services; the estimates were
released on October 20, 1998 and include "preliminary" estimates for August 1998 and "revised" estimates for
July. The sources for the other tables in this section are as noted.
Table F.1.—U.S. International Transactions in Goods and Services
[Millions of dollars; monthly estimates seasonally adjusted]
1998
1«)97
1996
Exports of goods and services
Goods
Foods feeds and beverages
industrial supplies and materials . . .
Capital goods except automotive
Automotive vehicles engines and parts
Consumer goods (nonfood), except automotive
Other goods
Adjustments!
Services
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Transfers under U S military agency sales contracts2
U S Government miscellaneous services
Imports of goods and services
.
Goods
Foods, feeds, and beverages
Industrial supplies and materials
Capital goods, except automotive
Automotive vehicles, engines, and parts ...:
Consumer goods (nonfood) except automotive
Other goods:
Adjustments
Services
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Direct defense expenditures2
U.S. Government miscellaneous services
Memoranda:
Balance on goods
Balance on services
Balance on goods and services
. ...
,
1997
May
June
July
850,775
937,593
79,099
79,126
79,705
80,589
79,088
79,784
79,668
77,813
79,058
77,515
76,399
76,375
75,101
74,839
611,983
55,534
147,652
252 895
65,021
70,138
33,836
-13,092
679,325
51,507
158,226
294 470
74,029
77,446
33,505
-9,858
57,455
3,907
13,103
25692
6,307
6,426
3,061
-1,041
57,100
4,164
13,391
24898
6,216
6,504
2,973
-1,047
57,747
4275
13,136
25409
6,180
6,437
3,049
58,467
4,503
13,304
25614
6,448
6,752
2,896
-1,050
57,482
4,533
13,064
24883
6,576
6,521
2,575
58,336
4,476
13,087
25755
6,138
6,416
2,978
57,902
4,238
13,040
25459
6,497
6,609
2,695
56,350
4,220
12,553
24,807
6,350
6,425
2,802
57,217
3,995
12,861
24,881
6,578
6,550
3,233
54,719
3,664
12,562
23,799
5,983
6,562
2,905
54,767
3,794
12,052
24369
5,601
6,864
2,985
53825
53698
-670
-613
-636
-807
-682
55,335
3,758
12,471
23,790
6,468
6,590
2,913
•455
21,463
5,994
1,737
2,120
2,893
7,263
1,391
21,841
5,720
1,658
2,103
2,919
7,423
1,953
22,180
6,404
1,823
2,149
2,943
7,458
1,338
21,680
5,965
1,745
2,117
2,960
7,413
1,414
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
238,792
69,751
20,413
26074
32,823
73,073
15765
258,268
73,268
20,895
26911
33,676
84,465
18269
21,644
5,927
1,698
893
-739
-898
3716
3571
11,864
24843
4732
6,658
2,977
12086
23913
5550
6665
3,225
-965
-1 312
21 141
21,958
6,320
1,797
2,860
7,210
1,666
22,026
6,078
1,717
2246
2,865
7,294
1 759
784
67
67
66
959,349 1,047,799
87,697
88,401
803,320
35,710
204,482
229,050
128,938
171,007
26,102
8,031
877,279
39,694
213,767
254,175
140,779
192,918
29,338
6,609
73,318
3,406
17,480
21,639
11,923
16,171
2,470
74,009
3,370
18,137
21,779
11,735
16,222
2,522
228
245
266
255
242
423
578
226
508
322
288
355
358
702
156,029
48,048
15,818
27403
7,854
43,138
1 1 ,081
2,687
170,520
51,220
18,235
28949
9,411
48,421
11,488
2,796
14,379
4,271
1,561
2368
14,392
4,287
1,556
2354
14,669
4,339
1,587
2480
14,502
4,173
1,482
2,499
14,601
4,337
1,541
2,369
14,691
4,313
1,534
2,530
14,588
4,452
1,545
2,355
14,835
4,408
1,542
2,550
14,993
4,605
1,613
2,417
14,879
4,460
1,564
2,492
14,717
4,357
1,532
2,480
14,794
4399
14714
848
848
863
861
860
857
832
819
820
818
829
857
807
4,129
4,121
4,160
997
243
4,250
1,011
4,202
1,024
4,123
1,047
4,234
1,047
4,279
1,023
4,295
1,015
4,272
1,012
4,255
981
245
4,230
1,020
4,269
960
242
14,957
4,449
1,563
2,346
1,199
4,114
1,051
1 012
1 015
231
234
235
235
236
235
235
236
235
-191 337
82,763
-108574
-197,955
87,748
-110207
-15,864
7,265
-8599
-16,909
7,634
-9275
-16524
7,289
-9235
-16,962
6,757
-10,205
-17,076
7,178
-9,898
-18,120
6,506
-11,614
-20504
7,006
-13,498
-21,335
7,187
-14,148
-22,578
6,801
-15,777
-20 530
6,891
-13639
-21 029
-23 201
6482
-14547
6427
-16774
2216
21,606
6,083
1,799
2,226
2,793
7,348
1,294
21,448
5,959
1,753
2,246
2,776
7,302
21,766
6,253
1,803
2,237
2,863
7,217
1351
1328
66
63
61
65
65
65
65
66
66
65
66
88,940
89,240
88,688
89,989
89,565
89,427
92,555
91,663
92,176
90,014
89,648
91,614
74,271
3,357
17,990
21,812
11,769
16,566
2,511
74,738
3,306
18,191
22,207
11,594
16,472
2,713
74,087
3,263
18,088
21,543
11,738
16,778
2,435
75,298
3,493
17,198
22,438
11,929
17,269
2,548
74,977
3,375
17,277
21,898
11,834
17,200
2,815
74,470
3,511
16,829
22,236
12,188
16,871
2,609
77,720
3,546
16,733
23,090
12,974
18,213
2,657
76,670
3,398
17,294
22,307
12,183
18,274
2,892
77,297
3,455
17,448
23,132
12,542
17,893
2,539
75,297
3,590
16,610
22,179
11,774
18,174
2,615
74,854
3,436
16,629
22,284
10,677
18267
3,204
76900
3,337
16,863
22327
12332
18042
3297
2216
2,855
7,246
1 458
pr Preliminary.
Revised.
1. Reflects adjustments necessary to bring the Census Bureau's component data in line with the concepts and
22,122
6,162
1,812
2,337
2,812
7,420
-756
Aug.*
1513
237
m
-16270
7,620
-6,650
-16,605
7,005
-9,600
21,608
21,276
5,866
5,550
1,719
1,559
2,126
2194
2,969 " 2975
7,528
7,519
1414
1334
1,550
2471
definitions used to prepare BEA's international and national accounts.
2. Contains goods that cannot be separately identified.
Source: U.S. Department of Commerce, Bureau of Economic Analysis and Bureau of the Census.
5546
1583
2203
2984
7451
1 308
4377
1,525
2500
SURVEY OF CURRENT BUSINESS
D-52 • International Data
November 1998
Table F.2.—U.S. International Transactions
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
1997
1997
(Credits +; debits -) >
1 Exports of goods services and income
1997
1998
I
II
1,179,380
281,972
296,689
298,106
302,613
296,986
III
IV
\r
1998
III
IV
I
II
294,171
283,765
295,287
300,481
299,843
299,061
292,591
\\P
f
\\P
2
Goods adjusted excluding military2
679,325
162,695
172,420
166,214
177,996
170,589
168,175
163,499
169,240
172,302
174,284
171,469
164,666
3
4
Services3
Transfers under U S military agency sales contracts4
258,268
18,269
61,009
4,338
62,807
4,890
69,984
4,883
64,468
4,158
63,344
4,672
63,359
4,086
62,685
4,338
64,776
4,890
65,628
4,883
65,175
4,158
65,070
4,672
65,467
4,086
73,268
20,895
26,911
16,072
4,808
6,574
18,157
5,027
6,719
21,890
5,988
6,721
17,149
5,072
6,897
15,817
4,877
6,290
17,825
5,114
6,379
18,197
5,130
6,698
18,542
5,189
6,724
18,325
5,212
6,678
18,204
5,364
6,809
17,967
5,198
6,460
18,235
5,287
6,392
33,676
84,465
784
8,086
20,928
203
8,158
19,665
191
8,483
21,819
200
8,949
22,053
190
8,443
23,050
195
8,572
21,186
197
8,306
19,813
203
8,407
20,833
191
8,580
21,750
200
8,381
22,069
190
8,675
21,903
195
8,872
22,398
197
241,787
109,407
128,845
3,535
58,268
27,293
30,018
957
61,462
28,671
32,041
750
61,908
28,157
32,717
1,034
60,149
25,286
34,069
794
63,053
26,828
35,302
923
62,637
26,881
35,001
755
57,581
26,716
30,018
847
61,271
28,286
32,041
944
62,551
28,935
32,717
899
60,384
25,470
34,069
845
62,522
26,391
35,302
829
62,458
26,525
35,001
932
5
6
7
8
9
10
11
12
13
14
. .
Travel
Passenger fares
Other transportation
Royalties and license fees5
Other private services 5
U S Government miscellaneous services
....
Income receipts on U S assets abroad
Direct investment receipts
Other private receipts
U S Government receipts
. .
15
Imports of goods, services, and income
-300,949 -321,456 -336,982 -335,517 -324,587 -339,535
-311,881 -321,342 -329,130 -332,549 -336,316 -339,782
16
Goods adjusted excluding military2
-877,279 -205,351 -217,227 -225,472 -229,229 -218,744 -228,038
-213,222 -218,336 -221,598 -224,123 -227,167 -229,497
17
18
Services 3
Direct defense expenditures
-170,520
-11,488
-38,372
-2,796
-43,026
-2,699
-46,952
-2,938
-42,170
-3,055
-41,417
-3,145
-45,410
-3,050
-41,092
-2,796
-42,195
-2,699
-43,437
-2,938
-43,795
-3,055
-44,379
-3,145
44,589
-3,050
-51,220
-18,235
-28,949
-10,868
-3,953
-6,894
-13,601
-4,975
-7,288
-15,667
-5,304
-7,330
-11,084
-4,003
-7,437
-11,290
-4,260
-7,066
-14,271
-5,027
-7,351
-12,736
-4,311
-7,034
-12,764
-4,663
-7,317
-12,897
-4,704
-7,200
-12,823
-4,557
-7,397
-13,309
4,650
-7,250
-13,422
4,709
-7,389
^9,411
-48,421
-2,796
-2,086
-11,089
-2,045
-11,739
-2,573
-12,410
-2,707
-13,183
-2,835
-12,117
-2,330
-12,675
-2,106
-11,423
-2,168
-11,905
-2,559
-12,409
-2,578
-12,684
-2,850
-12,471
-2,467
-12,846
-247,105
-45,674
-113,959
-87,472
-57,226
-10,323
-26,705
-20,198
-39,691
-12,090
-4,193
-23,408
19
20
21
Travel
Passenger fares
Other transDOrtation
22
23
24
Royalties and license fees5
Other private services 5
U S Government miscellaneous services
25
26
27
28
29
30
31
32
-1,294,904
.
Income payments on foreign assets in the United States
Direct investment payments
Other private payments
U S Government payments
Unilateral transfers, net
U S Government grants4
U S Government pensions and other transfers
Private remittances and other transfers6
-686
-679
-730
-701
-704
-706
-686
-679
-730
-701
-704
-706
-61,203
-11,279
-28,023
-21,901
-64,558
-13,011
-28,849
-22,698
-64,118
-11,061
-30,382
-22,675
-64,426
-10,458
-31,285
-22,683
-66,087
-11,661
-31,466
-22,960
-57,567
-10,664
-26,705
-20,198
-60,811
-10,887
-28,023
-21,901
-64,095
-12,548
-28,849
-22,698
-64,631
-11,574
-30,382
-52,675
-64,770
-10,802
-31,285
-22,683
-65,696
-11,270
-31,466
-22,960
-9,151
-8,626
-9,346
-12,568
-5,617
-6,911
-6,874
-9,035
-9,445
-12,337
-9,480
-9,334
-2,241
-1,067
-5,843
-2,274
-2,362
-2,266
-1,019
-6,332
-2,060
-5,949
-2,241
-1,013
-5,620
-2,274
-1,055
-5,706
-2,362
-1,056
-6,027
-5,213
-1,069
-6,055
-2,266
-1,126
-6,088
-2,060
-1,130
-6,144
-48,591
-86,606 -123,317 -123,441
-45,648
-97,490
-478,502 -147,756
-836
-931
-5,516
-6,053
-5,213
-1,359
-5,996
-88,005 -124,276
-118,465
-902
-98,696
-145,139
34
35
36
37
38
US official reserve assets, net7
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
-1,010
4,480
-236
-730
-4,524
-444
-1,945
4,480
-236
-730
-4,524
-444
-1,945
^350
-0,575
2,915
72
1,055
3,353
-133
-139
-463
-128
-150
-182
-182
-4,221
72
-1,031
-177
-986
-139
-463
-128
-150
-153
72
1,055
3,353
-133
-4,221
72
-1,031
-153
-177
-986
39
40
41
42
U S Government assets other than official reserve assets net
U S. credits and other long-term assets
Repayments on U.S. credits and other long-term assets8
U.S. foreign currency holdings and U.S. short-term assets, net
174
-5,302
5,504
-28
-22
-1,168
1,171
-25
-269
436
-1,421
1,878
-21
29
-1,097
1,097
29
-388
-496
-1,159
721
-58
436
-1,421
1,878
-21
29
-1,097
1,097
29
-388
-1,189
1,177
-22
-1,168
1,171
-25
-1,189
1,177
496
-1,159
721
-58
43
44
45
46
U S private assets, net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns
U S claims reported by U S. banks, not included elsewhere
-37,500 -123,982 -113,970
-27,787 -28,447 -30,494
-8,030
-23,263 -41,167
-47,759
-37,264
-6,973
-96,255
-41,467
-23,446
-149,597
-32,498
-15,521
-86,101 -123,023 -118,946
-26,388 -27,488 -35,470
-23,263 -41,167
-8,030
44,816
-34,321
-6,973
-95,049
40,261
-23,446
-47,907
-27,539
-6,596
3,074
-6,363
-24,979
-37,880
-63,698
-9,825
-26,625
-24,791
-29,577
47,907
-27,539
-6,596
3,074
-6,363
-24,979
33
47
48
U.S. assets abroad, net (increase/capital outflow (-))
Foreign assets in the United States, net (increase/capital inflow (+)) ....
49
50
51
52
53
54
55
Foreign official assets in the United States net
.
U S Government securities9
US Treasury securities
Other 10
Other U S. Government liabilities u
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets 12
56
57
58
59
60
61
Other foreign assets in the United States net
Direct investment
U S Treasury securities
U S currency
U S securities other than U.S. Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns
U.S. liabilities reported by U.S. banks, not included elsewhere
62
63
64
64a
-477,666 -152,214
-121,843 -35,115
-87,981 -15,521
54
-157
-1,616
1,358
-11
-85
-376
54
-157
-269
-1,616
1,358
-11
-85
-376
-120,403
-147,439
-37,880
-63,698
-9,825
-26,625
-24,791
-29,577
733,441
181,302
150,160
182,507
219,472
95,172
163,943
181,735
149,773
181,438
220,491
95,529
163,425
15,817
-2,936
-7,270
4,334
-2,521
21,928
26,949
23,065
22,311
754
-5,411
-10,862
-11,689
827
-26,979
-24,492
-24,578
86
-10,483
-20,063
-20,317
254
26,949
23,065
22,311
754
-5,411
-10,862
-11,689
827
-26,979
-24,492
-24,578
86
-244
11,324
13,946
11,336
2,610
-1,059
-244
11,324
13,946
11,336
2,610
-1,059
-3,250
1,007
-607
-956
-3,250
1,007
-607
-956
-10,483
-20,063
-20,317
254
422
9,170
832
-422
-587
-523
9,170
832
7,696
-3,225
5,043
931
21,258
9,353
6,686
2,667
-1,167
12,439
633
83,848
25,574
-1,701
746
77,019
174,426
22,554
25,715
2,349
69,531
154,786
25,879
33,363
3,484
45,477
155,184
20,149
42,614
4,822
54,258
160,180
18,964
35,432
6,576
60,327
247,470
28,453
35,301
9,900
36,783
84,205
25,931
-1,701
746
77,019
173,908
22,036
25,715
2,349
69,531
47,390
89,643
32,707
-50,497
13,389
40,888
28,840
17,743
5,274
28,067
26,275
12,606
47,390
89,643
32,707
-50,497
13,389
40,888
-10,009
-55,535
-9,363
-10,972
394
5,812
-28,077
685
-20,027
-10,018
-52,007
3,528
-3,146
6,217
-9,410
1,562
-44,807
19,781
-25,026
259
-59,258
23,032
-36,226
-2,650
-51,233
22,298
-28,935
-3,969
-48,155
21,927
-26,228
-1,373
-59,863
17,949
-41,914
-3,450
-49,723
21,593
-28,130
14
-49,096
22,581
-26,515
460
-49,296
22,191
-27,105
-1,544
-49,839
21,380
-28,459
-4,247
-55,698
20,691
-35,007
-2,248
-64,831
20,878
43,953
-3,238
-24,767
-8,626
-33,393
•^38,876
-9,346
-48,222
-32,904
-12,568
-45,472
-27,601
-9,617
-37,218
-45,364
-8,911
-54,275
-28,116
-8,874
-36,990
-26,055
-9,035
-35,090
-28,649
-9,445
-38,094
-32,706
-12,337
-45,043
-37,255
-9,480
46,735
47,191
-9,334
-56,525
-587
-523
7,696
-3,225
5,043
931
21,258
9,353
6,686
2,667
-1,167
12,439
633
717,624
93,449
146,710
24,782
196,845
154,353
25,446
33,363
3,484
45,477
155,571
20,536
42,614
4,822
54,258
161,249
20,033
35,432
6,576
60,327
246,451
27,434
35,301
9,900
36,783
107,779
148,059
28,840
17,743
5,274
28,067
26,275
12,606
-49,724
-5,418
-28,762
-197,954
87,748
-110,206
-5,318
-42,656
22,637
-20,019
1,042
-115,524
-39,691
-155,215
-18,977
-9,151
-28,128
-654
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
Of which seasonal adjustment discrepancy
65
66
67
68
69
Memoranda:
Balance on goods (lines 2 and 16)
Balance on services (lines 3 and 17)
Balance on goods and services (lines 65 and 66)
Balance on investment income (lines 1 1 and 25)
Balance
on goods, services, and income (lines 1 and 15 or lines 67 and
13
70
71
Unilateral transfers net (line 29)
Balance on current account (lines 1, 15, and 29 or lines 69 and 70) 13
68)
See footnotes to table F.3.
International Data • D-53
SURVEY OF CURRENT BUSINESS
November
Table F.3.—U.S. International Transactions, by Area
[Millions of dollars]
European Union 14
Western Europe
1
(Credits +; debits-)
Line
1997
IV
1 Exports of goods services and income
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
Goods adjusted excluding military2
Services3
Transfers under U.S. military agency sales contracts4
Travel
Passenger fares
Other transportation .
Royalties and license fees 5
Other private services 5
U.S. Government miscellaneous services
Income receipts on U.S. assets abroad
Direct investment receipts
Other private receipts
U.S. Government receipts
Imports of goods, services, and income
Goods, adjusted, excluding military2
Services 3
Direct defense expenditures
Travel
Passenger fares
Other transportation .
Royalties and license fees5
Other private services5
U.S. Government miscellaneous services
Income payments on foreign assets in the United States
Direct investment payments
Other private payments
U.S. Government payments
Unilateral transfers, net
U.S. Government grants4
U.S. Government pensions and other transfers
Private remittances and other transfers6
U.S. assets abroad, net (increase/capital outflow (-})
U.S. official reserve assets, net7
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
U.S. Government assets, other than official reserve assets, net
U.S. credits and other long-term assets
Repayments on U.S. credits and other long-term assets8
U.S. foreign currency holdings and U.S. short-term assets, net
U.S. private assets net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns
U.S. claims reported by U.S. banks, not included elsewhere
Foreign assets in the United States, net (increase/capital inflow (+))
Foreign official assets in the United States, net
U.S. Government securities9
U.S. Treasury securities
Other 10
Other U.S. Government liabilities11 .
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets 12
Other foreign assets in the United States, net
Direct investment
U.S. Treasury securities
U S currency
U S securities other than U S Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns
...
U.S. liabilities reported by U.S. banks, not included elsewhere
Allocations of special drawing rights
Statistical discrepancy, and transfers of funds between foreign areas, net
(sum of above items with sign reversed)
Memoranda:
Balance on goods (lines 2 and 16)
Balance on services (lines 3 and 17)
Balance on goods and services (lines 65 and 66)
Balance on investment income (lines 11 and 25)
Balance on goods, services, and income (lines 1 and 15 or lines 67 and 68) 13
Unilateral transfers net (line 29)
Balance on current account (lines 1, 15, and 29 or lines 69 and 70) 13
1997
1998
\r
88,202
91,028
90,255
1997
\r
IV
\\P
1998
IV
II*
\r
II*
79,996
83,138
81,767
25,152
26,341
26,509
42,105
43,343
42,428
39,160
41,590
39,606
36,283
38,711
36,491
8,888
10,070
9,848
21,714
22,473
21,125
22,695
1,108
21,582
1,066
22,763
1,099
20,251
699
19,257
675
20,386
696
6,508
88
6,129
89
6,756
91
9,940
165
9,325
160
9,629
165
5,491
1,616
1,966
4,883
1,541
1,873
5,655
1,796
5,051
1,555
1,652
4,502
1,489
1,619
5,159
1,742
1,637
1,858
532
431
1,655
585
405
2,091
682
418
2,298
814
785
1,999
713
784
2,157
830
790
4,388
8,086
40
4,252
7,927
40
4,345
40
4,134
7,125
35
4,002
6,935
35
4,108
7,009
35
933
2,653
13
809
2,573
13
855
2,606
13
2,455
3,406
17
2,315
3,337
17
2,345
3,325
17
26,347
11,945
14,209
193
27,856
12,970
14,606
280
27,886
13,685
14,022
179
23,462
10,141
13,151
170
25,170
11,385
13,549
236
24,910
11,851
12,900
159
9,756
3,033
6,697
26
10,142
3,234
6,908
9905
3,144
6,761
10,451
5,677
4,645
129
11,545
6,669
4,731
145
11,674
7,171
4,360
143
-94,544
-93,117
-99,807
-85,848
-64,530
-30,573
-31,562
-30,897
-32,098
-42,798
-42,504
-45,571
-46,610
-44,938
-48,201
-42,304
-40,618
-43,997
-8,838
-6,111
-8,667
-26,430
-25,671
-27,714
-16,047
-1,731
-15,721
-1,734
-18,894
-1,670
-14,113
-1,355
-14,067
-1,436
-16,579
-1,320
-5,412
-5,348
-6,002
-135
-131
-130
-6,760
-1,106
-6,850
-1,218
-6,190
-1,100
-3,199
-1,721
-2,620
-3,267
-1,904
-2,517
-5282
-2,645
-2,680
-2,912
-1,568
-2,121
-3,002
-1,728
-2,090
-4,584
-2,402
-2,187
-1,055
-1,006
-1,391
-1,444
-1,496
-602
-575
-736
-664
-960
-573
-673
-689
-1,089
-1,063
-2,368
-1,026
-1,103
-1,661
-4,821
-1,572
-4,433
-1,561
-4,760
-1,397
-4,508
-1,364
-4,195
-1,329
-4,503
-294
-294
-296
-552
-552
-254
-31,887
-7,394
-14,990
-9,503
-32,458
-7,606
-15,120
-9,732
-63
-41
-58
-70
1914
7914
.
-514
-541
•481
-660
-690
-2,346
-24
-2,441
-26
-686
-2,507
-24
-1,601
-1,507
-1,720
-187
-187
-187
-32,712
-7,369
-15,451
-9,892
-29,431
-6,836
-13,813
-8,782
-29,845
-6,868
-13,938
-9,039
-29,997
-6,617
-14,261
-9,119
-17,312
-2,786
-9,585
-4,941
-17,438
-2,322
-9,882
-5,234
-17,429
-2,239
-10,036
-5,154
-9,608
-3,489
-3,501
-2,618
-9,983
-3,979
-3,405
-2,599
-9,667
-3,402
-3,537
-2,728
-84
133
171
226
279
346
373
59
30
60
-1
-196
-028
-4
362
440
433
460
523
-49
328
-50
396
-48
421
-172
362
-43,492
-42,410
-56,773
-42,199
-38,517
-52,270
-40,838
-7,058
-42,288
-597
-387
-134
-333
-151
-289
-299
-1,351
-148
-293
-420
151
148
-1,351
420
187
-93
273
7
-12
-59
130
-83
119
-45
160
4
136
-77
204
9
-18
-38
37
-17
127
7
-43,563
-17,346
-7,475
-42, 446
-22, 106
-56, 613
-26, 632
-38, ?33
-20, 309
-9,975
-52,117
-24,383
-12,096
-40,972
-9,667
-7,597
-7,058
-9,247
-1,060
-40,967
-16,742
-7,656
-22,553
3,811
-5,201
-14, 079
-20; 006
-21,132
4,563
-4, 28
-13, 48
"-i'5"638
-16,246
-7,462
146,863
78, 157
94, 169
128,072
75, 369
84,710
-5,517
-3, 511
5, 378
y i?
fi "!
3%
PI
-97
-i 348
-135
a
(18)
47,178
48,767
51,675
55,397
34,465
C7)
23,367
-96,946
-33,617
-27,760
-80,154
-36,131
-23,880
-7,450
6,648
-3,348
5,861
2,513
-4,602
-2,089
-41
-2,130
-8,595
3,869
-4,726
^,826
-9,552
-84
-9,636
-6,021
6,138
117
-5,969
-5,852
133
-5,719
-1,907
5,190
3,283
-4,675
-1,392
171
-1,221
-7,506
3,807
-3,699
-5,087
-8,786
226
-8,560
-802
-5,540
-6,342
-33
-6,425
n
17
)
(i.)
14*3
21,649
18
28,359
63,396
28,307
-1 6,287
18
18
22,434
-420
-135
-2
9
-16
-3,670
6,428
-21, 001
-3,828
9, 006
4,272
-11,643
4,767
71,247
61,970
43, 593
47, 541
10,785
35,779
R
<::>
3 3a
3
ii?j
10, 315
6,404
-569
45
n
,8)
-1,351
-16
i»l
ft
n
26,768
-135
-4,423
-6,532
li
C8)
13,341
-420
9
%
s
-1,351
-14,226
-7,151
296
R
16,i
-4,574
-2
HQ
88, 791
14, 318
17
)
226
-14,637
756
-5,593
1, 171
i°!
i«!
81, ;68
20, 141
1?
)
-166
189
-42,288
-14,352
-6,935
18
'«
10
152,380
18,819
n
134
M
M
155
H
-159
231
-135
205
-63
259
9
-134
*r Preliminary.
Revised.
1. Credits, +: Exports of goods, services, and income; unilateral transfers to United States; capital inflows (increase in foreign assets (U.S. liabilities) or decrease in U.S. assets); decrease in U.S. official reserve assets; increase in foreign official assets in the United States.
Debits, -: Imports of goods, services, and income; unilateral transfers to foreigners; capital outflows (decrease
in foreign assets (U.S. liabilities) or increase in U.S. assets); increase in U.S. official reserve assets; decrease in
foreign offical assets in the United States.
2. Excludes exports of goods under U.S. military agency sales contracts identified in Census export documents,
excludes imports of goods under direct defense expenditures identified in Census import documents, and reflects
various other adjustments (for valuation, coverage, and timing) of Census statistics to balance of payments basis;
see table 2 in "U.S. International Transactions, Second Quarter 1998" in the October 1998 SURVEY.
1998
1997
1998
\r
IV
II*
European Union (6) 15
United Kingdom
13
(18)
(18)
(18)
8,302
(18)
11,599
9,167
49,702
30,946
6,
n
*
,8)
18)
30,198
I!
139
U
(18)
18\
2
-658
5,931
(18)
7,930
(18)
13,261
16,103
25,486
-2,777
'"i'«7"i89
-24,278
-50,702
3,911
-46,310
2,983
-28,122
50
1,096
1,146
-7,556
-6,410
279
-6,131
1,959
781
2,740
-7,296
•4,556
346
-4,210
1,181
754
1,935
-7,524
-5,589
373
-5,216
-4,716
3,180
-1,536
843
-3,198
2,475
-6,589
1,439
-5,150
2,007
-3,143
60
-3,083
18
18
18
18,303
11,199
-693
59
-634
1,718
-1 0,635
18
-723
1,562
839
30
869
18
13,599
3. Includes some goods: Mainly military equipment in line 4; major equipment, other materials, supplies, and petroleum products purchased abroad by U.S. military agencies in line 18; and fuels purchased by airline and steamship
operators in lines 7 and 21.
4. Includes transfers of goods and services under U.S. military grant programs.
5. Beginning in 1982, these lines are presented on a gross basis. The definition of exports is revised to exclude
U.S. parents' payments to foreign affiliates and to include U.S. affiliates' receipts from foreign parents. The definition
of imports is revised to include U.S. parents' payments to foreign affiliates and to exclude U.S. affiliates' receipts
from foreign parents.
6. Beginning in 1982, the "other transfers" component includes taxes paid by U.S. private residents to foreign
governments and taxes paid by private nonresidents to the U.S. Government.
7. For all areas, amounts outstanding June 30, 1998, were as follows in millions of dollars: Line 34, 71,162;
line 35,11,047; line 36,10,001; line 37,18,946; line 38,31,169. Data are preliminary.
SURVEY OF CURRENT BUSINESS
D-54 • International Data
November 1998
Table F.3.—U.S. International Transactions, by Area—Continued
[Millions of dollars]
Eastern Europe
1
8,019
109
4,309
1,200
836
4,223
1,312
829
2,467
1,233
790
2,085
1,159
717
2,580
1,083
760
584
3,574
38
535
3,507
38
570
3,418
38
1,766
1,887
11
1,614
2,232
11
1,540
1,936
11
4,834
2,329
2,505
15,052
4,628
10,317
107
15,538
4,651
10,818
69
15,954
4,532
11,326
96
1,934
344
1,566
24
2,709
740
1,940
29
2,191
581
1,600
10
-48,896
-51,227
-57,019
-55,814
-58,185
-45,014
-42,280
-42,290
-43,891
-44,922
-36,480
^34,847
-36,767
-31,428
-30,353
-30,000
-3,375
-12
-3,127
-12
-4,135
-15
-6,525
-93
-6,357
-93
-8,440
-82
-4,252
-3,764
-295
-362
-3,699
-^350
-633
-109
-772
-1,593
-3,777
-3,802
-3,815
-726
-143
-750
-648
-599
-772
-571
-631
-603
-707
-198
-600
-625
-181
-090
-1,012
-91
-1,494
-36
-94
-1,504
-36
-50
-3,247
-51
-2,957
-49
-3,149
•^397
-1,377
-36
-111
-111
-111
-1,713
-1,878
-2,170
-12,014
-467
-618
-997
-263
-954
-993
-223
-474
-684
-694
-8,720
-2,820
-9,080
-2,846
-132
-111
-2,932
-125
-357
-174
61,402
62,209
37,500
35281
35,691
969
112
950
89
971
67
4,840
24
5,258
23
5,070
24
11,415
156
10,583
158
Travel
Passenger fares
Other transportation
282
36
112
254
39
79
379
45
73
1,282
345
605
1,823
444
580
1,780
354
588
4,779
1,262
1,022
Royalties and license fees 5
Other private services 5
U S Government miscellaneous services
61
356
10
61
418
10
65
332
10
390
2,190
4
343
2,041
4
365
1,955
4
285
53
199
33
490
231
173
86
330
107
180
43
4,843
2,417
2,426
4,992
2,493
2,499
-3,138
-3,273
-3,933
-49,298
-2,247
-2,418
-2,848
-44,210
-487
-493
-669
Income receipts on U S assets abroad
Direct investment receipts
Other private receipts
U S Government receipts
,
-84
Travel
Passenger fares
Other transportation
22
23
24
Royalties and license fees 5
Other private services5
.
U S Government miscellaneous services
-106
-63
-44
-4
-171
-15
Income payments on foreign assets in the United States
Direct investment payments
Other private payments
U S Government payments
Unilateral transfers, net
-404
-3
.
US Government grants4
U.S. Government pensions and other transfers
Private remittances and other transfers 6
U.S. assets abroad, net (increase/capital outflow (-))
34
35
36
37
38
U S official reserve assets net 7
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U.S. Government assets, other than official reserve assets, net
U S credits and other long-term assets
Repayments on US credits and other long-term assets8
U o foreign currency holdings and U S short-term assets net
43
44
45
46
U.S. private assets, net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns
U S claims reported by U S banks not included elsewhere
. ..
Foreign assets in the United States, net (increase/capital inflow (+))
Foreign official assets in the United States net
U S Government securities9
U S Treasury securities
Other I0
Other U S Government liabilities l '
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets 12
56
57
58
59
60
61
Other foreign assets in the United States net
Direct investment
U S Treasury securities
U S currency
.
...
U S securities other than U S. Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns
U.S. liabilities reported by U.S. banks, not included elsewhere
63
Allocations of special drawing rights
64
Statistical discrepancy, and transfers of funds between foreign areas,
net (sum of above items with sign reversed)
-60
-41
-262
-137
-99
-60
-51
-67
-5
-4
-179
-177
-15
-15
-416
-362
-1
-2
-142
-259
-120
-241
-129
-285
-1,006
-641
-671
-810
-84
-292
-296
-454
-10
49
50
51
52
53
54
55
70
71
8,456
638
63,967
40,679
19
20
21
65
66
67
68
69
8,266
112
50,583
39,575
Services 3
Direct defense expenditures
62
14,084
10,564
174
49,825
39,643
17
18
48
24,294
14,782
49,326
2,308
Goods adjusted, excluding military2
47
25,947
15,859
3,609
2,008
Imports of goods, services, and income
33
26,059
3,448
15
30
31
32
II*
2,090
16
29
\r
IV
\\P
-9
-10
-365
-347
2,202
-165
-1,450
-7
-56
47
2
-27
-174
147
2, 209
382
07
138
703
4
14
2, 348
136
425
-7, 151
-1,303
d3
3
372
:*!
2
18)
-99
-105
-2,953
-2,903
-19
-75
-21
-315
-160
-243
-149
-34
-639
-5,593
-65,653
-16,386
-48,422
3,375
14,884
21,344
-19
-26
-838
-19
-26
-838
2
10
1
-1,485
-511
-428
-6, 15
-1, 310
357
-4,665
-3,440
46
-546
-2,,
-2,<
94
102
245
347
0
-250
>37
325
-662
-609
354
-10
-816
-65,747
-6,770
-3,200
-2,509
-21,400
-34,377
49,519
-5,593
-2,268
14
458
4,535
-2, 176
1,531
a
-679
!3
17
8
3
H
2,( 362
2, )29
17
)
-1,073
791
C7)
-33
-1,560
3,982
6,273
-4,567
1,465
-3,102
3,130
-410
-2,354
-5,170
-6,591
-1,633
-1,985
-4,973
-12,978
-4,664
1,703
-157
-8,163
-9,349
-2,935
-9,334
-1,702
-2,158
-5,474
-12,610
-6,103
913
1,964
-986
-22
1
583
17
)
5,684
-602
-1,070
-34
-24
-51
8
18
-666
-1,255
-34
-23
4
199
64
38
18
-1,509
-713
-207
-2,511
(18)
41
-1,097
-2,478
18)
-63
18
-7,439
II*
-2,401
12
(i.)
\
14
1
( )
(8)
IV
IV
-12
-120
12
1
r
18
-102
35
-10
10
35
-1,398
:*i
3
II*
(17)
R
R
R
R
5
-54
5,414
2,278
1,951
(.7)
(17)
17
(
)
178
-132
311
-1
2
10
488
-5, 300
1, 927
-48,600
-2,670
-10,446
3, 392
458
5, 364
14,900
-3,972
1, 247
362
-9,700
-25,784
'46
-2, 284
-1,572
20,938
19,945
10, 925
76,296
16, 769
-20,119
-17,877
j
P
i"
(
l
R
-16,
-14,
(18)
}
3
1,911
(18)
18)
J
i
(18)
22,182
-1,822
4,059
-494
1
R
(18)
R
(18)
489
$
(18)
2, 53?
(18)
,8)
3,569
2,ffi
(18)
(18)
8,805
22,842
10,299
18
-2,583
3,637
)
11,665
18
27,1 52
9,729
18
-22,153
5,200
18
58,955
1,912
12,438
-1,855
18
-1 8,625
'is-24,003
3,409
1,813
12,118
2,826
-28,995
-1,170
21,643
14,550
-4,316
2,131
-2,185
3,114
-4,243
935
-3,308
2,664
1,020
2,890
3,910
3,038
434
2,226
2,660
2,928
-1,076
2,124
1,048
2,978
-15,569
4,014
-11,555
-7,400
-15,571
4,692
-10,879
-5,454
-15,916
4,320
-11,596
-6,400
6,948
-2,932
4,016
5,588
-2,953
2,635
4,024
-2,903
1,121
-18,955
-19
-18,974
-16,333
-75
-16,408
-17,996
-21
-18,017
I7
( )
-537
(
17
18
.
Memoranda:
Balance on goods (lines 2 and 16)
Balance on services (lines 3 and 17)
Balance on goods and services (lines 65 and 66)
Balance on investment income (lines 1 1 and 25)
Balance on goods, services, and income (lines 1 and 15 or lines 67 and
68) 13
Unilateral transfers net (line 29)
Balance on current account (lines 1, 15, and 29 or lines 69 and 70) 13
482
325
-119
206
457
47
128
175
-540
302
-238
-86
-641
-671
-324
-610
-435
-496
-1,134
8. Includes sales of foreign obligations to foreigners.
9. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible and nonconvertible
bonds and notes.
10. Consists of U.S. Treasury and Export-Import Bank obligations, not included elsewhere, and of debt securities
of U.S. Government corporations and agencies.
11. Includes, primarily, U.S. Government liabilities associated with military agency sales contracts and other transactions arranged with or through foreign official agencies; see table 4 in "U.S. International Transactions, Second
Quarter 1998" in the October 1998 SURVEY.
12. Consists of investments in U.S. corporate stocks and in debt securities of private corporations and State
and local governments.
-240
-339
1998
1998
3,344
Services 3
Transfers under U S military agency sales contracts4
25
26
27
28
1997
Exports of goods, services, and income
3
4
11
12
13
14
1997
1998
\r
f
Goods adjusted excluding military2
8
9
10
1997
1998
Japan
Latin America and Other Western
Hemisphere
IV
2
5
6
7
1997
(Credits +; debits -) '
Line
Canada
28
-84
-56
929
-132
797
-644
-111
-755
13. Conceptually, the sum of lines 71 and 63 is equal to "net foreign investment" in the national income and
product accounts (NIPA's). However, the foreign transactions account in the NIPA's (a) includes adjustments to the
international transactions accounts for the treatment of gold, (b) includes adjustments for the different geographical
treatment of transactions with U.S. territories and Puerto Rico, and (c) includes services furnished without payment
by financial pension plans except life insurance carriers and private noninsured pension plans. A reconciliation of
the balance on goods and services from the international accounts and the NIPA net exports appears in the "Reconciliation and Other Special Tables" section in this issue of the SURVEY OF CURRENT BUSINESS. A reconciliation
of the other foreign transactions in the two sets of accounts appears in table 4.5 of the full set of NIPA tables
(published annually in the August issue of the SURVEY).
D-55
International Data
SURVEY OF CURRENT BUSINESS
November
Table F.3.—U.S. International Transactions, by Area—Continued
[Millions of dollars]
Other countries in Asia and Africa
Australia
Line
1997
(Credits +; debits -) '
lr
IV
1 Exports of goods, services, and income
1998
1997
1998
II*
IV
I'
Internal onal organizations
and
unallocated 16
1997
II*
1998
lr
IV
5,734
5,698
5,550
60,062
53,789
51,664
2
Goods, adjusted, excluding military2
2,899
3,109
2,863
40,845
34,244
32,944
3
4
Services 3
Transfers under U.S. military agency sales contracts4
1,523
221
1,306
212
1,367
219
13,304
2,425
13,706
2,486
13,119
2,394
\\p
5,919
5,849
6,007
1,456
1,503
1,486
5
6
7
Travel
Passenger fares ....
Other transportation
443
161
87
337
117
76
361
123
78
2,405
419
2191
2,126
377
1,999
2,847
401
1,990
124
130
147
a
Royalties and license fees 5
Other private services5
U.S. Government miscellaneous services
182
425
4
158
402
4
174
406
6
1,119
4,662
83
1,046
5,584
88
1,071
4,328
88
459
873
434
939
442
897
1,312
604
708
1,283
508
775
1,320
556
764
5,913
2,840
2,786
287
5,839
2,916
2,646
277
5,601
2,627
2,742
232
4,463
2,455
1,858
150
4,346
2,319
1,845
182
4,521
2,464
1,862
195
-2,355
-2,748
-2,464
-669
-1,054
-653
9
10
11
12
13
14
Income receipts on U.S. assets abroad
Direct investment receipts
Other private receipts
U.S. Government receipts
15
Imports of goods, services, and income
-2,455
-2,441
-2,434
-61,694
-76,018
-79,195
16
Goods adjusted excluding military2
-1,261
-1,262
-1,430
-66,993
-61,035
-63,870
17
18
Services3
Direct defense expenditures
-719
-12
-722
-11
-573
-12
-8,096
-828
-6,179
-892
-6,347
-671
-251
-148
-63
-260
-150
-67
-158
-112
-42
-2,211
-1,116
-1,942
-2,427
-1,103
-1,796
-2,448
-1,190
-1,842
-272
-332
-362
-9
-224
-12
-17
-205
-12
-11
-226
-12
-42
-1,758
-199
•^38
-1,721
-202
-41
-1,753
-202
-184
-213
-545
-177
-173
-118
-475
-215
-148
-112
-^57
-190
-172
-55
-431
-194
-161
-76
-6,605
121
-2,460
-4,266
-6,804
182
-2,653
-4,333
-6,978
148
-2,563
-4,563
-1,686
-927
-758
-1,694
-902
-789
-3
-1,811
-963
-635
-13
-24
-40
-32
-6,173
-3,433
-2,772
-2,612
-2,272
-2,178
-1,338
-122
-1,973
-928
-122
-1,722
-137
-532
-1,943
-247
-241
-1,784
-239
-138
-1,801
4,618
-1,463
-6,453
-3,037
-133
-4,371
-267
-959
-150
-4,221
-182
-85
72
-1,031
19
20
21
Travel
Passenger fares
Other transportation
22
23
24
Royalties and license fees5
Other private services5
U.S. Government miscellaneous services
25
26
27
28
29
30
31
32
.
.
.
Income payments on foreign assets in the United States
Direct investment payments
Other private payments
U S Government payments
Unilateral transfers, net
U S Government grants4
U S Government pensions and other transfers
Private remittances and other transfers 6
33 U.S. assets abroad net (increase/capital outflow (—))
34
35
36
37
38
U.S. official reserve assets, net7
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U.S. Government assets, other than official reserve assets, net
U.S. credits and other long-term assets
Repayments on U S credits and other long-term assets8
U o foreign currency holdings and U S short-term assets net
43
44
45
46
47
U S private assets net
.
Direct investment
Foreign securities
U S claims on unaffiliated foreigners reported by U S nonbanking concerns
U S claims reported by U S banks not included elsewhere
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
Foreign assets in the United States net (increase/capital inflow (+))
Foreign official assets in the United States net
U S. Government securities9
US. Treasury securities
Other 10
Other U.S. Government liabilities n . . . .
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets 12
Other foreign assets in the United States net
Direct investment
U S Treasury securities
U S currency
U.S. securities other than U S Treasury securities
.. .
U S liabilities to unaffiliated foreigners reported by U S nonbanking concerns
U.S. liabilities reported by U S. banks, not included elsewhere
-9
-15
-9
-31
-9
-23
-^,369
-122
-1,682
-1,966
-1,431
-6,206
-375
1
-1
3
_H
-24
-474
437
13
374
391
410
393
-383
-641
270
-12
-254
-254
-286
-286
-317
-317
4, 992
-2, 78
-3, 778
-A390
11, 338
-1,080
-1,608
-4,747
-2,484
-1,727
-125
18
-650
1,143
-2,326
158
3,337
-26
1
-1
3
-1,967
-542
-566
-687
-172
-1,430
-1,316
-15
128
-227
-6,209
-3,630
-1,251
-1, 328
-351
-2,375
-4,439
-155
6,618
5,275
-1,828
-2,391
936
-15
-358
1,275
-674
1, 121
2,565
19, )74
-1,570
10,046
7,754
8,667
18)
18)
(18)
18)
,8
£2
10,046
771
7,754
811
8,667
838
647
-1,773
9,900
38
19
18
-682
-74
57
18
6,21 4
2,349
215
8,189
18
-2,924
13
-13
li
a
(18)
n
ft
n
18
18)
17
-178
(ls8)
:
-2, 16
,8)
18)
1,129
373
-1,103
18
2,290
3,217
1,563
18
17,477
1,475
L
(18)
18)
(18)
67
-649
18)
R
£2
\
3
0)
M
(.8)
Pi
")
,8)
(18)
(18)
£2
(18)
-173
-88
I8
1,392
175
-159
18
-1,987
-2,564
-1,112
2,001
25,615
1,070
33,336
-4,545
-5,546
-9,899
1,638
804
2,442
837
3,279
-24
3,255
1,847
584
2,431
826
3,257
-40
3,217
1,433
794
2,227
889
3,116
-32
3,084
-26,148
5,208
-20,940
-692
-21,632
-6,173
-27,805
-26,791
5,527
-21,264
-30,926
4,772
-26,154
-1,377
-27,531
-2,772
-30,303
787
787
2,777
3,564
-2,612
952
449
449
2,652
3,101
-2,272
829
833
833
2,710
3,543
-2,178
1,365
-326
18
I8
63 Allocations of special drawing rights
64 Statistical discrepancy, and transfers of funds between foreign areas, net (sum of
above items with sign reversed)
65
66
67
68
69
70
71
Memoranda:
Balance on goods (lines 2 and 16)
Balance on services (lines 3 and 17)
Balance on goods and services (lines 65 and 66)
Balance on investment income (lines 11 and 25)
Balance on goods services and income (lines 1 and 15 or lines 67 and 68) n
Unilateral transfers, net (line 29)
Balance on current account (lines 1 15 and 29 or lines 69 and 70) 13
14. The "European Union" includes the "European Union (6)," United Kingdom, Denmark, Ireland, Greece, Spain,
and Portugal. Beginning with the first quarter of 1995, the "European Union" also includes Austria, Finland, and
Sweden.
15. The "European Union (6)" includes Belgium, France, Germany (includes the former German Democratic Republic (East Germany) beginning in the fourth quarter of 1990), Italy, Luxembourg, Netherlands, European Atomic
Energy Community, European Coal and Steel Community, and European Investment Bank.
16. Includes, as part of international and unallocated, the estimated direct investment in foreign affiliates engaged
in international shipping, in operating oil and gas drilling equipment internationally, and in petroleum trading. Also
_QOC
vJDCJ
-22,229
-3,433
-25,662
includes taxes withheld; current-cost adjustments associated with U.S. and foreign direct investment; small transactions in business services that are not reported by country; and net U.S. currency flows, for which geographic
source data are not available.
17. Details not shown separately; see totals in lines 49 and 56.
18. Details not shown separately are included in line 62.
NOTE.—The data in tables F.2 and F.3 are from tables 1 and 10 in "U.S. International Transactions, Second
Quarter 1998" in the October 1998 issue of the SURVEY OF CURRENT BUSINESS, which presents the most recent
estimates from the balance of payments accounts.
SURVEY OF CURRENT BUSINESS
D-56 • International Data
November 1998
Table F.4.—Private Service Transactions
[Millions of dollars]
Seasonally adjusted
1996
Line
1997
1997
I
1
Exports of privatG services
II
1998
III
IV
\"
II*
222,134
239,215
58,144
59,695
60,545
60,827
60,203
61,184
Travel (table F2 line 5)
Passenger fares (table F2, line 6)
Other transportation (table F 2 line 7)
Freight
Port services
69,751
20,413
26,074
11,146
14,929
73,268
20,895
26,911
11,773
15,137
18,197
5,130
6,698
2,913
3,785
18,542
5,189
6,724
2,910
3,814
18,325
5,212
6,678
2,919
3,759
18,204
5,364
6,809
3,031
3,778
17,967
5,198
6,460
2,901
3,559
18,235
5,287
6,392
2,754
3,638
7
8
9
10
11
12
13
Royalties and license fees (table F 2 line 8)
Affiliated
U S parents' receipts
U S affiliates' receipts
Unaffiliated
Industrial processes 1
Other2
32,823
24,710
22,781
1,929
8,113
3,488
4,625
33,676
25,515
23,457
2,058
8,161
3,272
4,889
8,306
6,267
5,905
362
2,039
832
1,207
8,407
6,373
5,897
476
2,034
819
1,215
8,580
6,543
5,929
614
2,037
812
1,225
8,381
6,330
5,724
606
2,051
809
1,242
8,675
6,600
5,905
695
2,075
811
1,264
8,872
6,767
6,103
664
2,105
815
1,290
14
15
16
17
18
19
20
21
22
23
24
25
26
Other private services (table F 2 line 9)
Affiliated services
U.S parents' receipts
U.S. affiliates' receipts
Unaffiliated services
Education
Financial services ...;
Insurance net
Premiums received
Losses paid
Telecommunications
Business professional and3 technical services
Other unarfiliated services
73,073
23,779
14,772
9,007
49,295
7,888
8,382
1,971
5,978
4,007
3,270
17,599
10,185
84,465
26,336
16,164
10,172
58,128
8,278
11,064
2,391
5,952
3,561
3,771
21,304
11,321
19,813
6,250
3,794
2,456
13,563
2,013
2,395
578
1,494
916
889
4,946
2,742
20,833
6,579
4,045
2,534
14,254
2,052
2,598
592
1,485
892
938
5,293
2,780
21,750
6,791
4,128
2,663
14,959
2,108
2,914
605
1,483
879
956
5,500
2,876
22,069
6,717
4,198
2,519
15,352
2,105
3,157
616
1,491
875
987
5,564
2,923
21,903
6,644
4,101
2,543
15,259
2,100
2,891
629
1,508
880
969
5,669
3,001
22,398
6,867
4,097
2,770
15,531
2,096
3,170
642
1,531
890
895
5,756
2,973
142,261
156,236
37,610
38,817
39,769
40,039
40,530
40,833
48,048
15,818
27,403
16,539
10,864
51,220
18,235
28,949
17,644
11,305
12,736
4,311
7,034
4,201
2,833
12,764
4,663
7,317
4,581
2,736
12,897
4,704
7,200
4,408
2,792
12,823
4,557
7,397
4,454
2,943
13,309
4,650
7,250
4,461
2,789
13,422
4,709
7,389
4,674
2,715
7,854
5,506
766
4,740
2,347
1,233
1,115
9,411
7,087
955
6,132
2,324
1,265
1,060
2,106
1,566
217
1,349
540
320
221
2,168
1,600
220
1,380
568
315
253
2,559
1,941
235
1,706
618
313
305
2,578
1,980
284
1,696
598
317
282
2,850
1,877
247
1,630
973
324
649
2,467
1,862
260
1,602
605
335
270
43,138
16,668
8,089
8,579
26,469
1,247
2,995
3,773
14,652
10,879
8,304
5,550
4,600
48,421
18,324
9,407
8,917
30,098
1,347
3,906
5,208
15,036
9,828
8,113
6,571
4,952
11,423
4,414
2,179
2,235
7,009
318
846
1,115
3,683
2,568
2,006
1,543
1,181
11,905
4,473
2,355
2,118
7,432
333
1,002
1,261
3,735
2,474
1,999
1,615
1,221
12,409
4,635
2,427
2,208
7,774
346
1,093
1,381
3,787
2,406
2,028
1,676
1,251
12,684
4,801
2,445
2,356
7,883
349
965
1,452
3,832
2,380
2,080
1,737
1,299
12,471
4,419
2,324
2,095
8,052
348
999
1,477
3,869
2,392
2,121
1,832
1,275
12,846
4,788
2,472
2,316
8,058
364
989
1,471
3,900
2,429
2,049
1,905
1,280
-191,337 -197,954
82,979
79,873
-111,464 -114,975
-49,723
20,534
-29,189
-49,096
20,878
-28,218
-49,296
20,776
-28,520
-49,839
20,788
-29,051
-55,698
19,673
-36,025
-64,831
20,351
-44,480
2
3
4
5
6
27
Imoorts of private services
.
28
29
30
31
32
Travel (table F2 line 19)
Passenger fares (table F.2 line 20)
Other transportation (table F.2, line 21)
Freight
Port services
33
34
35
36
37
38
39
Royalties and license fees (table F 2 line 22)
Affiliated
U.S. parents' payments
U S affiliates' payments
Unaffiliated
Industrial processes *
Other2
.
.
40
41
42
43
44
45
46
47
48
49
50
51
52
Other private services (table F 2 line 23)
Affiliated services
U.S. parents' payments
U S affiliates' payments
Unaffiliated services
Education ...
Financial services
Insurance net
Premiums paid
Losses recovered
Telecommunications
Business professional and technical services
Other unafiliated services3
53
54
55
Memoranda:
Balance on goods (table F 2 line 65)
Balance on private services (line 1 minus line 27)
Balance on goods and private services (lines 53 and 54)
p Preliminary.
r
Revised.
1. Patented techniques, processes, and formulas and other intangible property rights that are
"|
f^ises, «* ,ofroadcas.live events, and other intake prop-
unafflliated servicesreceipts(exports) include main* expenditures of foreign govern-
ments and international organizations in the United States. Payments (imports) include mainly
wages of foreign residents temporarily employed in the United States and Canadian and Mexican
commuters in U.S. border areas.
J
most
«" estimates ^ ttie ««• of «""* accounts'
SURVEY OF CURRENT BUSINESS
November 1998
International Data •
G. Investment Tables.
Table G.1.—International Investment Position of the United States at Yearend, 1996 and 1997
[Millions of dollars]
Changes in position in 1997 (decrease (-))
Attributable to:
Line
Type of investment
Position
1996
Valuation adjustments
r
Capital
flows
Price
changes
(a)
1
2
3
4
Net international investment position of the United States:
With direct investment positions at current cost (line 3 less line 24)
With direct investment positions at market value (line 4 less line 25)
(a+b+c+d)
(d)
(c)
Position
1997^
-767,076
-743,656
-254,939
-254,939
-51,669 -127,725
-116,094 -197,805
-22,159
-9,961
U.S. assets abroad:
With direct investment positions at current cost (lines 5+10+15) .... 3,767,018
With direct investment positions at market value (lines 5+10+16) ... 4,347,148
478,502
478,502
175,135 -155,352
416,045 -224,102
-27,992
-10,474
470,293
659,971
4,237,311
5,007,119
-7
-7
-25,903
-20,769
134,836
75,929
10,027
18,071
30,809
5
6
7
8
9
U S official reserve assets
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
10
11
12
13
14
U S Government assets other than official reserve assets
US credits and other long-term assets5
Repayable in dollars
Other6
U S foreign currency holdings and U.S. short-term assets
15
16
U.S. private assets:
With direct investment at current cost (lines 17+19+22+23)
With direct investment at market value (lines 18+19+22+23)
Direct investment abroad:
At current cost
At market value
Foreign securities
Bonds
. .
Corporate stocks
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns
U.S. claims reported by U.S. banks, not included elsewhere
17
18
19
20
21
22
23
24
25
(b)
Exchange Other
2
rate
changes 1 changes
Total
Foreign assets in the United States:
With direct investment at current cost (lines 26+33)
With direct investment at market value (lines 26+34)
160,739
96,698
10,312
15,435
38,294
81,677
79,786
79,114
672
1,891
1,010
3
-20,762
-20,762
350
3,575
-2,915
-6,144
4
-285
-635
-939
2,636
-7,485
-4,570
-17
-8
-174
-202
-168
-456,492 -1,223,568
-578,799 -1,322,455
-3
-3
-4
1
-41
19
81,483
79,573
78,942
631
1,910
-27,982
-10,464
496,390
686,068
4,020,992
4,790,800
-15,252
2,266
86,918
276,596
166,142
41,676
124,466
1,023,872
1,793,680
1,446,301
445,049
1,001,252
112,418
130,912
562,396
988,423
926,785
1,238,770
5,460,879
6,329,574
32,839
1,734
-3,041
4,775
-2,522
21,928
11,699
833,901
614,390
589,850
24,540
20,577
135,026
63,908
893,946
1,205,931
4,626,978
5,495,673
-34
28
-S
-9
3,524,602
4,104,732
477,666
477,666
195,897 -149,191
436,807 -217,941
936,954
1,517,084
1,280,159
403,373
876,786
121,843
121,843
87,981
46,723
41,258
9,325 -28,998
250,235 -97,748
186,572 -108,411
8,671 -13,718
177,901 -94,693
449,978
857,511
120,403
147,439
-7,724
-4,058
-12,469
4,534,094
5,090,804
733,441
733,441
226,804
532,139
-27,627
-26,297
-5,833
-261
-513
54
55
55
-194
-213
-172
26
27
28
29
30
31
32
Foreign official assets in the United States
U S Government securities
U S Treasury securities
Other
Other U S Government liabilities7
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets
801,062
612,656
592,891
19,765
23,099
113,098
52,209
15,817
-2,936
-7,270
4,334
-2,521
21,928
16,968
4,615
4,174
441
-654
12,353
33
34
Other foreign assets:
With direct investment at current cost (lines 35+37+38+39+42+43) ... 3,733,032
With direct investment at market value (lines 36+37+38+39+42+43)
4,289,742
717,624
717,624
209,836
515,171
-27,627
-26,297
-5,887
666,962
1,223,672
504,792
186,843
1,199,460
588,043
611,417
93,449
93,449
146,710
24,782
196,845
130,879
65,966
-2,680
302,655
10,459
-1,330
-4,556
764
202,057
19,532
182,525
-20,378
-20,378
84,883
396,868
157,169
24,782
378,524
130,033
248,491
751,845
1,620,540
661,961
211,625
1,577,984
718,076
859,908
346,727
828.248
107,779
148.059
-1,331
106,828
141,760
453,555
970.008
35
36
37
38
39
40
41
42
43
Direct investment in the United States:
At current cost . . .
At market value
U S Treasury securities
U S currency
,
U.S. securities other than U.S. Treasury securities
Corporate and other bonds
Corporate stocks
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns
U.S. liabilities reported bv U.S. banks, not included elsewhere
* Preliminary.
1. Represents gains or losses on foreign-currency-denominated assets due to their revaluation
at current exchange rates.
2. Includes changes in coverage, statistical discrepancies, and other adjustments to the value
3. Reflects changes in the value of the official gold stock due to fluctuations in the market
price of gold.
4. Reflects changes in gold stock from U.S. Treasury sales of gold medallions and commemorative and bullion coins; also reflects replenishment through open market purchases. These demonetizations/monetizations are not included in international transactions capital flows.
-1
380
-6,299
-567
5. Also includes paid-in capital subscriptions to international financial institutions and outstanding
amounts of miscellaneous claims that have been settled through international agreements to be
payable to the U.S. Government over periods in excess of 1 year. Excludes World War I debts
that are not being serviced.
6. Includes indebtedness that the borrower may contractually, or at its option, repay with its
currency, with a third country's currency, or by delivery of materials or transfer of services.
7. Primarily U.S. Government liabilities associated with military sales contracts and other transactions arranged with or through foreign official agencies.
NOTE.—The data in this table are from table 1 in "International Investment Position of the United States in 1997" in the July 1998 issue of the SURVEY OF CURRENT BUSINESS.
D-57
D-58 • International Data
SURVEY OF CURRENT BUSINESS
November 1998
Table G.2.-4J.S. Direct Investment Abroad: Selected Items, by Country and by Industry of Foreign Affiliate, 1995-97
[Millions of dollars]
Direct investment position on a
historical-cost basis
Capital outflows (inflows (-))
1995
1996
Income
1995
1997
1996
1997
1995
1996
1997
699,015
777,203
860,723
92,074
74,833
114,537
87,346
92,105
100,703
83,498
91,301
99,859
8,602
7,260
10,734
8,799
9,024
10,692
Europe
Of which:
France
Germany
Netherlands
United Kingdom
344,596
382,366
420,934
52,275
35,992
60,558
40,853
43,179
47,869
33,358
44,242
42,113
106,332
33,746
44,651
54,437
122,692
34,615
43,931
64,648
138,765
5,196
3,349
9,386
13,830
4,750
1,467
6,914
12,080
3,166
3,002
14,329
22,435
2,707
4,215
7,456
10,921
3,389
3,842
8,667
12,016
2,637
4,117
10,240
12,898
Latin America and Other Western Hemisphere
Of which:
Brazil
Mexico
131,377
147,535
172,481
16,040
16,081
23,784
16,210
17,810
19,992
25,002
16,873
28,699
19,900
35,727
25,395
6,954
2,983
3,812
2,713
6,545
5,933
3,759
1,585
4,104
2,862
4,551
3,969
6,017
6,832
10,253
352
739
3,790
1,797
1,797
1,887
All countries, all industries
By country
Canada
Africa
Middle East
Asia and Pacific
Of which:
Australia
Japan
International
7,198
7,793
8,959
879
538
1,111
1,373
1,411
1,562
122,711
136,481
142,704
14,342
12,190
13,815
18,146
18,562
18,325
24,328
37,309
28,409
35,684
26,125
35,569
5,537
2,336
3,071
1,101
781
2,769
4,091
2,846
3,414
3,288
3,198
3,618
4,896
5,533
-416
2,034
746
167
322
376
-326
By industry
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricateo metals .. .
Industrial machinery and equipment
Electronic and other electric equipment
Transportation equipment
Other manufacturing
68,639
74,499
85,726
675
5,058
11,455
9,036
11,692
12,114
243,954
28,896
61,374
11,555
29,626
27,514
34,076
50,913
272,244
32,998
72,209
14,178
31,597
31,623
33,839
55,801
288,290
38,380
73,487
14,732
33,563
33,833
36,439
57,855
44,472
3,718
16,924
1,570
4,408
7,060
5,888
4,903
25,149
2,700
5,657
5,283
2,565
3,883
561
4,500
32,280
6,325
8,026
1,054
4,529
3,930
3,846
4,570
34,325
4,480
8,614
1,380
4,251
4,466
3,709
7,425
34,365
4,826
9,525
1,353
4,555
4,217
3,182
6,707
37,532
5,116
9,415
1,535
5,083
4,861
4,842
6,679
Wholesale trade
68,102
69,638
69,080
8,880
5,701
3,403
9,118
8,488
9,041
Depository institutions
29,181
33,673
34,359
1,032
1,488
2,935
3,242
3,083
2,953
218,313
240,972
280,920
22,001
23,035
45,410
24,589
27,817
29,815
Finance (except depository institutions), insurance, and real
estate
Services .
29,721
35,793
40,874
4,014
3,343
5,464
4,136
3,588
5,258
Other industries
41,105
50,384
61,475
11,000
11,061
13,591
2,902
3,072
3,991
NOTE.—In this table, unlike in the international transactions accounts, income and capital outflows are shown without a current-cost adjustment, and income is shown net of withholding taxes,
In addition, unlike in the international investment position, the direct investment position is valued
at historical cost.
The data in this table are from tables 17 and 18 in "U.S. Direct Investment Abroad: Detail
for Historical-Cost Position and Related Capital and Income Flows, 1997" in the October 1998
issue of the SURVEY OF CURRENT BUSINESS.
International Data
SURVEY OF CURRENT BUSINESS
November 199$
Table G.3.—Selected Financial and Operating Data for Nonbank Foreign Affiliates of U.S. Companies, by Country and by
Industry of Affiliate, 1996
Number of
affiliates
AH countries, all industries
Millions of dollars
Total assets
Sales
Net income
Thousands of
employees
21,901
3,075,516
2,227,014
135,108
2,027
276,622
253,783
10,866
921.8
10,745
1,751,550
1,178,077
68,478
3,194.2
1,257
1,374
761
1,051
520
2,447
141,315
222,802
60,524
161,889
81,964
813,742
134,816
244,658
72,170
122,760
61,964
310,685
4,549
7,766
2,049
13,823
7,336
14,998
451.5
607.9
186.1
160.8
976.4
3,366
370,529
223,869
24,112
1,529.2
417
847
60,037
67,437
56,026
71,739
4,101
7,021
318.2
733.9
7,616.5
By country
Canada
Europe
a which:
France
Germany
Italy
Netherlands
Switzerland
United Kingdom
,...,
Latin America and Other Western Hemisphere
Of which:
Brazil
Mexico
52.4
Africa
522
28,979
23,170
2,475
122.0
MiqldleEast
346
34,991
23,667
3,309
79.1
4,791
592,420
517,020
24,869
1,756.9
878
1,005
94,457
248,312
70,036
204,364
3,322
5,684
275.1
405.4
104
20,424
7,427
999
Asia and Pacific
Of which:
Australia
Japan
,
,..
International
13.2
By industry
Petroleum
1,575
295,592
380,364
18,166
236.0
Manufacturing
Food and kindred products
Chemicals and allied products
,
Primary and fabricated metals
Industrial machinery and equipment
Electronic and other electric equipment
Transportation equipment
Other manufacturing
8,162
778
1,990
733
1,012
859
526
846,555
111,189
204,573
42,238
110,215
77,154
133,225
167,960
1,041,357
121,167
199,326
43,005
167,313
99,884
233,763
176,900
54,026
6,973
16,417
1,594
6,782
5,841
4,970
11,449
4,477.9
557.1
611.1
244.7
527.2
838.5
707.5
991.9
563.3
,
2,264
Wholesale trade
4,976
210,485
393,052
14,229
Finance (except depository institutions), insurance, and real estate
2,940
1,333,484
117,435
35,223
196.2
Services
2,676
131,702
115,569
4,950
829.1
Other industries
1,572
257,698
179,235
8,514
1,314.0
NOTE.—The data in this table are from "U.S. Multinational Companies: Operations in 1996"
in the September 1998 issue of the SURVEY OF CURRENT BUSINESS.
D-59
D-60 • International Data
SURVEY OF CURRENT BUSINESS
November 1998
Table G.4.—Foreign Direct Investment in the United States: Selected Items, by Country of Foreign Parent and by Industry of
Affiliate, 1995-97
[Millions of dollars]
Direct investment position on a
historical-cost basis
1995
AH countries, all industries
535,553
1997
1996
594,088
681,651
Income
Capital inflows (outflows {-))
1995
1996
1997
1995
1996
1997
58,772
765453
90,748
30,931
31,970
42,502
By country
Canada
Europe
Of which:
France
,-.
Germany
Netherlands
United Kingdom
Latin America and Other Western Hemisphere
Of which:
Brazil
Mexico
45,618
54,799
64,022
4,824
8,235
9,411
3,658
3,295
3,215
332,374
368,322
425,220
39,686
51,672
60,021
21,745
24,759
31,245
36,167
46,017
65,116
116,272
41,132
59,863
74,320
121,288
47,088
69,701
84,862
129,551
2,725
7,908
-1,526
16,255
5,983
18,995
11,487
11,000
8,728
10,712
10,274
8,582
1,729
1,642
5,003
10,630
2,570
2,283
6,592
9,593
3,037
3,003
7,175
11,700
27,873
29,180
35,701
2,886
3,266
5,921
1,206
1,566
2,003
750
1,850
689
1,436
698
1,723
116
-263
-60
38
48
145
91
23
48
28
44
180
Africa
1,113
645
1,608
-117
-460
942
31
Middle East
5,801
5,977
6,882
-360
538
866
140
166
607
122,774
135,166
148,218
11,854
13,202
13,587
4,152
2,303
5,537
10,356
104,997
13,877
114,534
16,229
123,514
2,003
8,118
3,739
10,214
2,557
9,430
435
3,611
362
3,159
61
6,363
Asia and Pacific
Of which:
Australia
Japan
-118
-105
By industry
34,907
43,770
47,679
3,863
8,842
4,462
3,274
4,369
4,721
214,504
27,032
72,125
14,193
37,098
64,056
242,320
27,897
76,708
17,364
39,114
81,238
267,070
27,473
88,767
20,454
46,027
84,349
28,739
5,652
11,771
403
3,516
7,398
34,500
1,829
6,692
4,968
2,429
18,583
36,228
14,494
2,235
7,400
12,233
15,431
1,736
5,806
1,245
2,209
4,435
16,220
1,983
5,159
1,046
1,207
6,824
19,172
1,838
6,125
1,487
2,836
6,886
Wholesale trade
66,871
75,115
87,564
6,556
8,247
11,275
3,847
2,448
3,617
Retail trade
12,533
13,733
16,093
1,336
2,506
1,320
538
513
669
37,099
3,489
Petroleum . .
.
Manufacturing
Food and Kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery
Other manufacturing
-133
Depository institutions
33,883
32,161
6,879
555
5,840
4,578
2,883
Finance except depository institutions
34,803
37,658
42,526
4,009
4,443
5,078
472
1,182
2,108
Insurance
50,647
54,715
69,092
3,807
7,409
11,090
1,837
2,794
5,050
Real estate
30,170
33,179
34,118
-639
541
658
-609
-69
511
32,058
32,358
45,604
1,551
3,838
7,164
-132
404
974
25,176
29,080
34,806
2,672
5,572
7,632
1,695
1,225
2,191
Services
...
Other industries
..
. .
NOTE.—In this table, unlike in the international transactions accounts, income and capital inflows
are shown without a current-cost adjustment, and income is shown net of withholding taxes. In
addition, unlike in the international investment position, the direct investment position is valued
at historical cost.
The data in this table are from tables 16 and 17 in "Foreign Direct Investment in the United
States: Detail for Historical-Cost Position and Related Capital and Income Flows, 1997" in the
September 1998 issue of the SURVEY OF CURRENT BUSINESS.
SURVEY OF CURRENT BUSINESS
November 1998
International Data • D-61
Table G.5.—Selected Financial and Operating Data of Nonbank U.S. Affiliates of Foreign Companies, by Country of Ultimate
Beneficial Owner and by Industry of Affiliate, 1996
Millions of dollars
Number of
affiliates Total assets
All countriGS, sll indusfriGS
Sales
Millions of dollars
Net income
Gross
product
Thousands of
employees
12,626
2,613,985
1,596,022
21,110
339,485
4,977.5
1,289
263,862
121,650
5,035
30,026
U.S.
U.S.
exports of
goods
shipped by
affiliates
imports of
goods
shipped to
affiliates
136,588
252,990
618.6
5,658
14,123
86,533
By country
Canada
Europe
Of which:
France
Germany
Netherlands
Switzerland
United Kingdom
.
...
.
Latin America and Other Western Hemisphere
Of which:
Brazil
Mexico
Africa
.
.
. .
Middle East
Asia and Pacific
Of which:
Australia
Japan
.
.
.
.
.
United States
5,411
1,507,678
881,931
15,885
218,174
3,103.9
63,104
667
1,328
397
623
1,203
274,775
249,891
180,292
275,890
413,966
127,434
168,151
111,395
96,026
277,026
3,120
3,096
2,785
310
5,890
32,584
40,467
29,299
19,461
73,960
411.8
610.2
378.8
306.2
972.6
18,386
13,493
4,468
6,457
12,354
12,888
28,304
8,969
7,550
13,267
1,088
57,482
53,767
147
12,699
155.4
5,725
10,621
78
275
10,652
8,454
4,462
7,982
160
283
1,439
4.5
35.8
1,192
688
1,241
2,248
-643
2,555
22.7
522
560
-258
5,292
61.8
607
5,481
487,580
-3,370
65,469
972.9
60,077
134,416
23,013
418,320
243
-2,271
5,539
54,560
77.4
776.4
1,268
52,555
1,375
117,433
19,466
2,938
5,270
42.2
894
1,255
74
11,708
10,605
430
26,501
21,024
4,249
635,683
171
3,240
44,617
549,408
85
111,071
733
By industry
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery
Other manufacturing
Wholesale trade
. .
236
114,735
152,832
5,586
32,733
111.8
9,984
21,080
2,950
257
338
407
736
1,212
578,886
58,624
180,996
60,804
95,234
183,228
552,023
49,562
134,451
62,902
124,066
181,042
7,153
3,591
549
1,010
2,738
156,354
11,783
42,095
16,079
31,863
54,534
2,213.6
205.4
409.8
233.3
536.8
828.4
58,821
2,848
15,656
4,066
20,575
15,677
78,531
3,379
14,254
7,390
28,733
24,776
2,230
233,829
466,700
2,839
41,973
488.6
62,792
147,958
-737
Retail trade
352
50,063
94,028
377
24,544
821.0
1,507
3,408
Finance except depository institutions
907
705,181
58,230
64
6,001
49.3
15
21
Insurance
161
575,947
89,625
5,306
10,658
152.0
0
0
3,507
100,549
13,903
-1,718
4,984
27.1
7
1
Services
1,283
105,297
56,247
-3,402
21,840
633.8
738
1,173
Other industries
1,000
149,497
112,434
4,907
40,398
480.3
2,725
818
Real estate
D
Suppressed to avoid disclosure of data of individual companies.
NOTE.—The data in this table are from "Foreign Direct Investment in the United States: New
Investment in 1997 and Affiliate Operations in 1996" in the June 1998 issue of the SURVEY OF
CURRENT BUSINESS.
SURVEY OF CURRENT BUSINESS
D-62 • International Data
November 1998
H. International Perspectives.
Quarterly data in this table are shown in the middle month of the quarter.
Table H.1.—International Perspectives
1998
1997
1996
1997
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Exchange rates per U.S. dollar (hot seasonally adjusted)
Canada (Can.$/US$)
France (FFr/US$)
Germany (DM/US$
Italy (L/US0)
Japan (¥/US0)
Mexico (Peso/US$)
United Kingdom (US$/£)
Addendum:
Exchange value of the U.S. dollar l ...
1.3638 1.3849 1.3775
1.3872 1.3872 1.3869 1.4128 1.4271 1.4409 1.4334 1.4166 1.4298 1.4452 1.4655 1.4869 1.5346
5.1158 5.8393 6.0511 6.2010 6.0031 5.8954 5.8001 5.9542 6.0832 6.0744 6.1257 6.0782 5.9528 6.0118 6.0280 5.9912
1.5049 1.7348 1.7939 1.8400 1.7862 1.7575 1.7323 1.7788 1.8165 1.8123 1.8272 1.8132 1.7753 1.7928 1.7976 1.7869
15.4276 17.0381 17.4591 17.9712 17.4322 17.2109 16.9708 17.4386 17.8787 17.8828 17.9907 17.9124 17.5079 17.6632 17.7242 17.6301
1.0878 1.2106 1.1538 1.1793 1.2089 1.2106 1.2538 1.2973 1.2955 1.2585 1.2908 1.3175 1.3490 1.4033
1.4079
1.4468
7.6004 7.9177 7.8679 7.7818 7.7809 7.8708 8.2716 8.1271 8.2272 8.5021 8.5681 8.5017 8.5848 8.9200 8.8990 9.3712
1.5607 1.6376 1.6694 1.6035 1.6013 1.6330 1.6889 1.6597 1.6350 1.6408 1.6619 1.6723 1.6382 1.6504 1.6437 1.6342
87.34
96.38
97.48
99.96
98.29
97.07
96.37
98.82
100.52
99.93
100.47
100.30
99.61
100.90
101.38
101.80
Unemployment rates (percent, seasonally adjusted)
japan
Mexico
United Kingdom
9.7
12.3
10.4
12.1
3.4
5.5
7.3
Addendum:
United States
5.4
Canada . .
France
Germany
~/
9.2
12.5
11.5
12.3
9.0
12.6
11.6
9.0
9.0
9.1
9.0
8.6
12.5
11.7
12.1
12.5
11.7
12.5
11.8
12.4
11.8
12.2
12.3
11.8
8.9
12.2
11.5
8.5
8.6
12.1
11.5
12.0
12.0
11.5
8.4
11.9
11.3
8.4
11.9
11.2
12.4
8.4
11.8
11.0
8.4
11.8
10.9
8.3
11.8
10.9
3.4
3.7
5.5
3.4
3.8
5.4
3.4
3.5
5.3
3.4
3.3
5.2
3.5
3.3
5.1
3.5
3.4
5.0
3.5
3.4
4.9
3.5
3.5
4.9
3.6
3.5
4.8
3.9
3.4
4.8
4.1
3.3
4.8
4.1
3.2
4.8
4.3
3.3
4.8
4.1
3.0
4.7
4.6
4.9
4.9
4.9
4.9
4.8
4.6
4.7
4.7
4.6
4.7
4.3
4.3
4.5
4.5
4.5
4.3
Consumer prices (seasonally adjusted, 1990=100)
Canada
France
Germany (1991=100)
Italy
Japan
Mexico
United Kingdom ....
113.5
113.8
116.5
133.2
107.1
301.7
121.1
115.3
115.2
118.6
136.0
109.0
364.0
124.9
115.5
115.0
119.2
136.0
109.3
365.3
124.9
115.7
115.3
119.3
136.1
109.5
368.6
125.7
115.6
115.5
119.0
136.2
109.7
373.2
126.3
115.7
115.5
118.9
136.6
109.9
376.2
126.5
115.5
115.7
118.9
137.1
109.7
380.4
126.5
115.4
115.7
119.1
137.1
109.6
385.7
126.9
116.0
115.3
119.1
137.5
109.6
394.1
126.5
116.1
115.7
119.4
137.9
109.7
401.0
127.1
116.2
115.9
119.2
138.3
109.9
405.7
127.5
116.1
116.2
119.5
138.4
109.6
409.5
128.9
116.5
116.3
119.9
138.6
109.6
412.7
129.6
116.7
116.4
120.0
138.8
109.5
417.6
129.6
116.7
115.9
120.3
138.8
109.2
421.7
129.2
116.7
116.1
120.2
138.9
109.1
425.6
129.8
Addendum:
United States
120.0
122.9
122.9
123.1
123.5
123.7
123.8
123.9
123.9
124.0
124.0
124.3
124.7
124.8
125.0
125.2
Real gross domestic product (percent change from preceding quarter, seasonally adjusted at annual rates)
Canada
FrancG
Germany
Italy
Japan
Mexico
United Kingdom
1.2
1.5
1.3
.7
3.9
5.2
2.6
3.7
2.3
2.3
1.5
.9
7.0
3.5
4.3
38
23
23
3.2
4.9
40
Addendum:
United States
3.4
3.9
4.2
See footnotes at the end of the table.
2.8
3.1
1.2
11
3.4
2.5
5.9
—6
1.8
2.8
.4
2.0
-5.2
-3.3
2.9
6.2
3.1
7.8
1.9
30
55
18
-1.5
-1.7
3.3
International Data • D-63
SURVEY OF CURRENT BUSINESS
November 1998
Table H.1.—International Perspectives—Continued
1998
1997
1996
1997
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Short-term, 3-month, interest rates (percent, not seasonally adjusted)
Canada
France
Germany
Italy
Japan
Mexico . . .
United Kingdom
.
.-....;
. .
....
.
Addendum:
United States
4.43
3.94
3.31
8.82
.59
32.91
6.02
5.02
3.53
3.46
3.33
6.88
3.51
3.39
3.14
6.89
3.63
3.43
3.26
6.87
3.60
3.41
3.31
6.67
3.76
3.59
3.58
6.65
3.99
3.69
3.74
6.49
4.58
3.69
3.74
6.08
4.62
3.62
3.57
6.09
.60
21.26
.67
19.40
.59
20.15
.56
20.51
.53
19.91
.55
22.01
.89
19.88
.95
19.37
6.83
6.95
7.15
7.20
7.25
7.54
7.62
7.48
5.07
5.07
5.13
4.97
4.95
5.15
5.16
5.09
4.85
3.57
3.52
5.62
4.88
3.63
3.63
5.23
5.00
3.61
3.63
5.11
5.00
3.57
3.56
5.12
5.02
3.56
3.54
4.88
19.63
.81
2076
.70
19.47
.59
18.85
.58
20.99
.74
21.82
7.45
7.48
7.44
7.41
7.62
7.70
7.66
5.11
5.03
5.00
5.03
4.99
4.96
4.94
4.96
3.57
3.51
6.13
1.10
5.15
3.56
3.50
4.89
.73
Long-term interest rates, government bond yields (percent, not seasonally adjusted)
Canada
France
Germany . .
Italy ..
Japan
Mexico
United Kingdom
7.54
6.51
6.20
9.40
3.10
6.47
5.67
5.70
6.86
2.37
6.30
5.50
5.60
6.52
2.51
6.30
5.65
5.70
6.66
2.35
6.19
5.55
5.60
6.36
2.21
5.94
5.80
5.60
6.20
1.99
5.76
5.66
5.60
6.13
1.94
5.85
5.45
5.30
5.74
1.94
5.58
5.26
5.10
5.43
1.95
5.60
5.11
5.00
5.38
2.00
5.64
5.04
4.90
5.20
1.86
5.50
5.12
4.90
5.15
1.87
5.52
5.05
5.00
5.21
1.66
5.45
4.95
4.80
5.08
1.54
5.46
4.91
4.70
4.97
1.68
5.65
4.61
4.40
4.79
1.10
7.82
7.04
7.04
7.08
6.80
6.50
6.61
6.36
6.08
6.03
5.95
5.79
5.83
5.73
5.75
5.54
6.44
6.35
6.22
6.30
6.21
6.03
5.88
5.81
5.54
5.57
5.65
5.64
5.65
5.50
5.46
5.34
. . . .
Addendum:
United States
Share price indices (not seasonally adjusted, 1990=100)
Canada
France
.
Germany . . . . . .
Italy
Japan .
Mexico
United Kingdom
Addendum:
United States
.
.
.
.
.
154
118
116
96
74
555
167
189
152
158
131
64
779
189
201
161
175
138
70
889
190
193
161
176
139
68
815
194
206
160
170
145
65
933
198
200
159
171
149
62
815
203
190
151
161
145
57
873
194
196
157
171
154
55
917
200
196
163
177
175
56
801
205
207
175
188
189
58
839
216
221
195
201
214
58
880
226
224
208
214
238
56
894
232
222
216
219
232
56
795
237
215
223
227
225
55
751
236
203
228
237
239
58
745
238
162
211
215
224
54
195
249
262
262
267
272
268
275
275
290
306
315
313
311
320
294
222
1. Index of weighted average exchange value of U.S. dollar against currencies of other G-10 countries. March
NOTE.—All exchange rates are from the Board of Governors of the Federal Reserve System. U.S. interest rates,
1973=100. Weights are 1972-76 global trade of each of the 10 countries. Series revised as of August 1978. For unemployment rates, and GDP growth rates are from the Federal Reserve, the Bureau of Labor Statistics, and
description and back data, see: Index of the weighted-average exchange value of the U.S. dollar: Revision" on BEA, respectively. All other data (including U.S. consumer prices and U.S. share prices, both of which have been
page 700 of the August 1978 Federal Reserve Bulletin.
rebased to 1990 to facilitate comparison) are © OECD, October 1998, OECD Main Economic Indicators and are
reproduced with permission of the OECD.
D-64 • International Data
SURVEY OF CURRENT BUSINESS
November 1998
I. Charts.
THE U.S. IN THE INTERNATIONAL ECONOMY
Blllion$
BALANCE ON CURRENT ACCOUNT
COMPONENTS OF CURRENT ACCOUNT BALANCE
82'83'84 I 85 I 86'87'88 I 89 I 90'91'92 I 93 I 94 I 95'96'97'98
Billion $
120
FINANCIAL INVESTMENT
US. DIRECT INVESTMENT ABROAD AND
FOREIGN DIRECT INVESTMENT IN THE U.S.
100-
Foreign purchases of U.S. securities I
80604020-
0-10
-20
82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 9?'i
BMon$
300
EXPORTS AND IMPORTS
Billion$
7000
6000250-
NET INTERNATIONAL INVESTMENT POSITION
VALUED AT CURRENT COST
50004000Foreign assets in the United States
200-
30002000-
150-
Exports
1000100-
-1000-
50.
-2000
82
US. Dtpartment of Commerce. Bureau of Economic Analysis
Net investment position
'as' Be'a? W" sr'w'srre'as ^94*95,'de' 97*5
Regional Data •
SURVEY OF CURRENT BUSINESS
November 1998
D-65
Regional Data
J. State and Regional Tables.
The tables in this section include the most recent estimates of State personal income and gross state product.
The sources of these estimates are noted.
The quarterly and annual State personal income estimates and the gross state product estimates are
available on diskettes or CD-ROM. For information on personal income, E-mail reis.remd@bea.doc.gov; write
to the Regional Economic Information System, BE-55, Bureau of Economic Analysis, U.S. Department of
Commerce, Washington, DC 20230; or call 202-606-5360. For information on gross state product, E-mail
gspread@bea.doc.gov; write to the Regional Economic Analysis Division, BE-6i, Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, DC 20230; or call 202-606-5340.
Table J.1.—Quarterly Personal Income for States and Regions
[Millions of dollars, seasonally adjusted at annual rates]
1995
Area name
I
II
1996
III
IV
I
II
III
IV
1
II
Percent change
1998
1997
III
IV
I
II
United States ... 5,967,461 6,018,892 6,082,265 6,171,934 6,269,149 6,373,076 6,459,289 6,534,446 6,652,349 6,729,607 6,807,743 6,893,137 6,992,622 7,070,608
1997:111997:111
1997:1111997:IV
1997:IV1998:1
1998:11998:11
1.2
1.3
1.4
1.1
422,811
122,398
27,944
198,083
33,904
26,334
14,148
1.1
.9
.5
1.3
1.9
.7
.5
1.8
2.0
1.7
1.5
2.1
2.1
2.5
.5
1.0
-.2
.4
-1
.4
.4
1.1
.9
1.0
1.3
1.2
1.1
1.6
Mideast
1,168,773 1,177,598 1,186,970 1,200,728 1,221,822 1,240,073 1,252,618 1,268,123 1,286,623 1,294,001 1,307,359 1,325,111 1,338,687 1,349,940
21,571
21,849
19,557
19,894
20,461
20,984
21,253
19,188
20,338
20,535
Delaware
18,228
18,399
18,040
18,809
19,174
18,114
18,041
18,810
19,109
18,304
18,516
18,518
18,556
18,785
17,776
District of Columbia
17,769
17,900
17,685
150,167
151,267
135,367
137,271
145,008
146,626
149,076
139,168
140,885
143,530
Maryland
131,621
132,996
129,789
130,755
256,574 257,195
264,072 269,107 270,398
260,425
234,314
236,056 238,649 242,577 246,138
248,770 251,583
New Jersey
232,328
517,969
525,046 528,586
535,929
543,202
545,785
551,121 558,018 562,848 569,104
New York
494,307 497,847 502,044 507,533
294,019
300,872 304,338 306,921
309,418
313,883
315,885 318,147
278,684 281,073
297,896
Pennsylvania
276,624
284,840 288,607
1.0
2.2
1.2
1.1
1.3
1.0
.8
1.4
1.3
.1
1.7
1.4
1.3
1.4
1.0
1.5
1.8
.7
1.9
.9
.6
.8
1.3
.3
.7
.5
1.1
.7
Great Lakes
Illinois
Indiana
Michigan
Ohio
Wisconsin
998,966 1,002,627 1,010,742 1,024,339 1,033,924 1,050,139 1,063,992 1,072,260 1,089,826 1,102,775 1,112,544 1,128,280 1,144,562 1,155,371
294,780 296,221 298,855 303,621 308,925 313,159 317,533 320,850 325,755 330,778 333,773 338,659 342,221 346,643
133,922
135,332
138,446 140,370
141,699
123,464
126,961
129,059
130,819
131,890
136,081
123,304
124,202 125,446
233,247 235,191 236,881
240,721
242,939
248,308 255,184 256,771
245,346
224,581
226,291 229,018 229,192
225,155
269,357 271,661 275,434
278,952 281,005
261,335 266,513
244,240 246,168 248,230 251,428 252,533 256,422 260,150
116,312 118,252 120,299
121,304
122,915
124,369
127,433
127,836
129,254
125,683
111,487
112,191 113,164 114,825
.9
.9
.6
1.0
.9
1.1
1.4
1.5
1.7
1.2
1.4
1.4
1.4
1.1
1.4
2.8
1.3
.3
.9
1.3
.9
.6
.7
1.1
Plains
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
392,184
57,353
54,620
107,683
113,349
33,965
11,574
13,639
465,711
68,045
64,881
129,837
133,230
40,284
13,355
16,080
1.0
.6
1.2
1.2
1.0
.9
1.2
1.2
1.0
1.2
1.3
1.2
1.0
.5
.7
-.1
1.2
.3
1.1
2.1
1.2
.6
.8
1.3
1.1
1.1
1.0
1.3
1.2
1.0
.7
.4
1,300,230 1,311,781 1,326,883 1,350,262 1,367,913 1,394,180 1,415,301 1,429,538 1,458,543 1,473,455 1,489,403 1,507,310 1,524,915 1,542,120
90,682
88,320
88,980
91,485
92,357
83,276
85,991
86,601
89,630
80,324
80,839
84,773
81,688
82,531
44,114
45,853
44,547
45,539
47,100
47,670
47,867
49,280
43,776
48,605
49,646
50,281
50,780
51,185
357,042 361,288
341,387
365,944 369,115 372,556 377,843
315,990, 318,709 322,644 328,319 335,661
346,580 350,981
167,154 170,174 171,867 176,047
177,802
179,814
181,816 185,692 188,259
160,632
162,790
152,731 154,021 156,577
75,097
79,137
81,836
73,702
76,466
77,071
80,111
80,926
82,772
83,591
70,812
71,358
73,014
71,860
87,634
83,507
88,603
91,797
84,830
85,778
86,350
89,315
90,825
92,557
80,884
82,317
80,091
82,701
48,574
47,678
49,183
50,240
44,227
47,045
47,790
49,548
50,902
51,405
43,939
44,788
45,538
46,178
156,392
160,437
169,423
171,247
175,072 177,401
154,837
162,905
165,042
172,550
179,056
148,051
149,658
150,975
69,021
72,985
76,399
77,101
78,017
79,083
80,442
68,399
70,904
71,575
74,191
74,876
79,116
69,709
115,098
116,739
120,220
121,295
122,656
124,373
113,205
117,933
125,169
126,106
108,673 109,794 110,972 112,809
173,447
165,494 167,897
174,637
159,004 161,233
163,260
169,745
177,257 179,640 182,660
155,952
157,517
184,459
33,414
33,696
34,346
32,781
33,233
33,926
34,099
34,585
34,861
31,492
31,803
32,206
32,515
31,639
1.1
.7
.7
1.3
1.1
1.0
.8
.7
.8
1.2
1.1
1.5
.5
1.2
1.2
1.3
.9
1.1
1.1
1.7
1.4
1.5
1.4
1.4
1.3
.7
1.2
.9
1.0
.9
2.1
1.1
1.1
1.3
1.3
0
.6
1.7
.7
1.1
1.0
.8
1.4
1.4
1.0
.8
1.0
.9
1.7
.7
1.0
.8
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
357,442
103,187
24,297
166,446
28,365
22,905
12,243
361,896
103,982
24,588
168,846
29,039
23,166
12,275
395,297
57,628
54,976
108,739
114,487
34,086
11,702
13,680
366,184
105,285
24,670
171,309
29,136
23,380
12,404
399,104
58,241
55,579
109,627
115,559
34,599
11,681
13,818
371,417
106,653
25,027
173,963
29,665
23,517
12,591
405,533
59,271
56,296
111,755
116,874
35,307
11,955
14,077
375,401
108,076
25,357
175,454
30,109
23,602
12,801
416,904
61,593
57,616
114,644
118,805
36,779
12,728
14,740
381,684
109,850
25,742
178,711
30,502
23,935
12,945
424,059
62,644
58,354
116,850
120,589
37,550
12,985
15,087
386,940
111,408
26,130
181,154
30,954
24,168
13,126
430,228
63,596
59,244
118,705
122,100
37,990
13,286
15,308
392,636
112,865
26,516
184,185
31,373
24,530
13,167
434,037
63,687
59,959
119,487
123,703
38,644
13,204
15,354
400,057
115,568
26,860
187,604
31,770
24,886
13,368
439,487
65,011
60,909
120,635
126,407
38,546
12,720
15,260
404,197
116,716
27,117
189,401
32,264
25,235
13,465
445,613
65,973
62,031
122,568
127,403
39,103
12,901
15,634
408,687
117,801
27,250
191,843
32,863
25,404
13,527
450,253
66,344
62,753
124,079
128,724
39,473
13,050
15,828
416,018
120,173
27,718
194,783
33,536
25,939
13,869
454,888
67,110
63,555
125,545
130,068
39,656
13,146
15,808
418,025
121,364
27,662
195,514
33,508
26,047
13,931
460,552
67,337
64,241
128,182
131,630
39,887
13,256
16,020
Southwest
Arizona
New Mexico
Oklahoma
Texas
563,435
84,131
29,882
59,845
389,576
571,717
85,251
30,109
60,369
395,988
579,757
87,244
30,525
60,839
401,149
590,088
89,193
30,916
61,820
408,160
600,186
91,126
31,338
62,584
415,138
610,071
92,654
31,706
63,506
422,205
619,471
94,329
32,014
64,167
428,961
628,078
95,380
32,251
64,978
435,469
644,274
97,701
32,771
66,605
447,197
655,280
99,266
33,242
67,061
455,712
666,804
100,940
33,449
67,492
464,924
674,515
102,821
33,724
67,052
470,919
690,059
104,457
34,018
68,288
483,296
699,771
106,370
34,353
68,978
490,069
1.8
1.7
.6
.6
2.0
1.2
1.9
.8
-.7
1.3
2.3
1.6
.9
1.8
2.6
1.4
1.8
1.0
1.0
1.4
Rocky Mountain
Colorado
Idaho .. ..
Montana
Utah
Wyoming
171,069
88,965
21,642
15,723
34,955
9,783
172,633
89,774
•21,810
15,795
35,386
9,868
175,474
91,545
22,083
15,959
35,965
9,922
179,473
93,252
22,750
16,148
37,283
10,039
182,156
95,225
22,926
16,252
37,632
10,121
185,753
97,008
23,428
16,473
38,577
10,268
188,626
98,654
23,612
16,665
39,266
10,429
191,109
100,169
23,753
16,837
39,825
10,525
195,137
102,352
24,225
17,042
40,785
10,734
198,256
104,256
24,563
17,226
41,423
10,787
201,525
106,213
24,905
17,392
42,109
10,905
203,850
107,813
25,029
17,603
42,440
10,965
207,808
110,448
25,469
17,784
43,026
11,081
210,786
112,098
25,847
17,941
43,715
11,183
1.6
1.9
1.4
1.0
1.7
1.1
1.2
1.5
.5
1.2
.8
.5
1.9
2.4
1.8
1.0
1.4
1.1
1.4
1.5
1.5
.9
1.6
.9
1,015,361 1,025,344 1,037,152 1,050,092 1,070,844 1,087,117 1,102,112 1,118,664 1,138,403 1,156,030 1,171,168 1,183,167 1,208,014 1,224,097
14,837
15,229
15,352
14,627
14,751
14,986
15,230
15,750
15,936
14,631
14,482
14,417
14,358
14,418
828,319
841,373
853,328 861,047 881,275 893,636
793,055 802,404 814,814
749,955 757,627 766,298 781,805
743,198
30,704
29,824
30,162
30,390
30,659
30,864
31,008
29,756
29,642
29,570
29,360
29,342
29,495
29,134
44,297
42,754
44,670
45,470
46,152
47,069
41,977
43,660
39,971
40,990
36,955
37,922
38,798
36,373
76,524
72,387
75,017
77,276
78,275
79,090
73,855
80,253
81,420
70,917
68,237
69,837
67,026
66,186
141,418
144,753
147,465
148,960
151,549
153,722 155,029
139,368
126,054
127,690 129,605 131,182 133,954 136,412
1.3
0
1.4
1.0
.8
1.3
1.0
1.0
.8
.9
-.1
1.8
1.0
1.7
2.1
2.6
2.3
.7
1.5
1.5
1.4
1.3
1.2
1.4
.5
2.0
1.5
.9
Far West
Alaska
California
Hawaii
Nevada
Oregon
Washington
NOTE.—The personal income level shown for the United States is derived as the sum of the State estimates,
It differs from the national income and product accounts (NIPA) estimate of personal income because, by definition,
it omits the earnings of Federal civilian and military personnel stationed abroad and of U.S. residents employed
abroad temporarily by private U.S. firms. It can also differ from the NIPA estimate because of different data sources
and revision schedules.
Source: Table 1 in "Personal Income by State and Region, Second Quarter 1998" in the November 1998 SURVEY
OF CURRENT BUSINESS.
D-66 • Regional Data
SURVEY OF CURRENT BUSINESS
November 1998
Table J.2.—Annual Personal Income and Disposable Personal Income for States and Regions
Personal income
Millions of dollars
Area name
1995
United States .
1996
Disposable personal income
Percent change '
1997
1995-96
Percent change '
Millions of dollars
1996-97
1995
1996
1997
1995-96
1996-97
6,060,138
6,408,990
6,770,709
5.8
5.6
5,266,018
5,519,456
5,782,771
4.8
4.8
364,235
104,777
24,646
170,141
29,051
23,242
12,378
384,165
110,550
25,936
179,876
30,734
24,059
13,010
407,240
117,564
27,236
190,908
32,608
25,366
13,557
5.5
5.5
5.2
5.7
5.8
3.5
5.1
6.0
6.3
5.0
6.1
6.1
5.4
4.2
310,142
87,710
21,767
143,513
25,780
20,444
10,928
322,864
91,150
22,775
149,655
26,933
21,014
11,338
338,807
95,844
23,664
157,289
28,316
21,968
11,725
4.1
3.9
4.6
4.3
4,5
2.8
3.7
4.9
5.2
3.9
5.1
5.1
4.5
3.4
Mideast
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania
1,183,517
18,369
17,783
131,290
235,337
500,433
280,305
1,245,659
19,744
18,244
138,173
247,267
526,883
295,349
1,303,273
20,808
18,667
146,060
259,567
549,531
308,640
5.3
7.5
2.6
5.2
5.1
5.3
5.4
4.6
5.4
2.3
5.7
5.0
4.3
4.5
1,014,319
15,762
15,274
112,283
201,584
425,229
244,187
1,058,161
16,818
15,403
117,199
210,077
442,766
255,898
1,096,276
17,561
15,599
122,404
218,716
457,170
264,826
4.3
6.7
.8
4.4
4.2
4.1
4.8
3.6
4.4
1.3
4.4
4.1
3.3
3.5
Great Lakes
Illinois
Indiana
Michigan
Ohio
Wisconsin
1,009,168
298,369
124,104
226,261
247,517
112,917
1,055,079
315,117
129,682
233,628
257,610
119,042
1,108,356
332,241
135,945
244,329
270,741
125,100
4.5
5.6
4.5
3.3
4.1
5.4
5.0
5.4
4.8
4.6
5.1
5.1
870,278
256,666
107,496
195,048
214,290
96,779
902,634
268,591
111,768
199,665
221,498
101,113
940,038
280,555
116,286
206,863
231,071
105,263
3.7
4.6
4.0
2.4
3.4
4.5
4.1
4.5
4.0
3.6
4.3
4.1
398,029
58,123
55,368
109,451
115,067
34,489
11,728
13,803
426,307
62,880
58,793
117,421
121,299
37,741
13,051
15,122
447,560
66,110
62,312
123,207
128,151
39,195
12,954
15,632
7.1
8.2
6.2
7.3
5.4
9.4
345,678
50,916
48,213
92,684
100,814
30,136
10,454
12,462
367,590
54,944
50,806
97,903
105,563
32,991
11,687
13,695
382,544
57,369
53,437
101,664
110,663
33,887
11,458
14,065
6.3
7.9
5.4
5.6
4.7
9.5
4.1
4.4
5.2
3.8
4.8
2.7
9.6
5.0
5.1
6.0
4.9
5.6
3.9
-.7
3.4
1,322,289
81,346
44,494
321,415
155,990
71,761
81,498
44,623
150,880
69,508
110,562
158,426
31,785
1,401,733
85,160
47,122
343,652
167,996
75,584
85,117
47,173
161,194
73,407
115,744
166,599
32,986
1,482,178
89,403
49,453
363,347
178,870
80,503
89,094
49,386
172,073
77,650
122,136
176,245
34,017
6.0
4.7
5.9
6.9
7.7
5.3
4.4
5.7
6.8
5.6
4.7
5.2
3.8
5.7
5.0
4.9
5.7
6.5
6.5
4.7
4.7
6.7
5.8
5.5
5.8
3.1
1,163,967
72,328
39,567
282,893
135,874
62,812
73,270
40,617
131,204
61,397
99,137
136,427
28,441
1,225,611
75,505
41,797
298,779
145,240
65,909
76,078
42,850
139,857
64,517
103,038
142,556
29,486
Southwest
Arizona
New Mexico
Oklahoma
Texas
576,249
86,455
30,358
60,718
398,718
614,451
93,372
31,827
63,809
425,443
660,218
100,182
33,297
67,052
459,688
6.6
8.0
4.8
5.1
6.7
7.4
7.3
4.6
5.1
8.0
513,740
75,760
27,095
53,722
357,162
Rocky Mountain
Colorado
Idaho
Montana
Utah .
Wyoming
174,662
90,884
22,071
15,906
35,897
9,903
186,911
97,764
23,430
16,557
38,825
10,336
199,692
105,158
24,681
17,316
41,689
10,848
7.0
7.6
6.2
4.1
8.2
4.4
6.8
7.6
5.3
4.6
7.4
5.0
1,031,987
14,419
754,269
29,333
37,512
67,822
128,633
1,094,684
14,711
798,020
29,698
41,423
73,044
137,788
1,162,192
15,199
846,017
30,479
44,524
77,791
148,182
6.1
2.0
5.8
1.2
6.2
3.3
6.0
2.6
7.5
6.5
7.5
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
Plains .
Iowa .
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
Far West
Alaska
California
Hawaii
Nevada
Oregon
Washington
1. Percent changes are calculated from unrounded data.
NOTE.—The personal income level shown for the United States is derived as the sum of the
State estimates. It differs from the national income and product accounts (NIPA) estimate of personal income because, by definition, it omits the earnings of Federal civilian and military personnel
11.3
10.4
7.7
7.1
11.8
-2.0
9.9
2.7
1,286,299
78,864
43,698
313,157
153,501
69,816
78,930
44,646
148,185
67,823
107,991
149,438
30,250
5.3
4.4
5.6
5.6
6.9
4.9
3.8
5.5
6.6
5.1
3.9
4.5
3.7
5.0
4.4
4.5
4.8
5.7
5.9
3.7
4.2
6.0
5.1
4.8
4.8
2.6
543,549
81,022
28,250
56,117
378,160
580,867
86,140
29,335
58,582
406,809
5.8
6.9
4.3
4.5
5.9
6.9
6.3
3.8
4.4
7.6
151,139
78,112
19,280
14,052
30,947
8,748
160,589
83,279
20,432
14,557
33,403
8,917
170,127
88,701
21,377
15,103
35,665
9,281
6.3
6.6
6.0
3.6
7.9
1.9
5.9
6.5
4.6
3.8
6.8
4.1
896,754
12,346
654,979
25,652
32,371
57,945
113,460
938,457
12,566
682,407
25,826
35,352
62,094
120,213
987,813
12,903
717,166
26,363
37,669
65,389
128,322
4.7
1.8
4.2
.7
9.2
7.2
6.0
5.3
2.7
5.1
2.1
6.6
5.3
6.7
stationed abroad and of U.S. residents employed abroad temporarily by private U.S. firms. It can
also differ from the NIPA estimate because of different data sources and revision schedules.
Source: Tables 1 and 3 in "State Personal Income, Revised Estimates for 1982-97" in the
October 1998 issue of the SURVEY.
SURVEY OF CURRENT BUSINESS
November 1998
Regional Data •
Table J.3.—Per Capita Personal Income and Per Capita Disposable Personal Income for States and Regions
Per capita personal income '
Dollars
Area name
1995
United States
Per capita disposable personal incomel
Rank in U.S.
1996
1997
23,063
24,169
25,298
27,426
32,073
19,970
28,073
25,341
23,480
21,237
28,828
33,835
20,941
29,559
26,490
24,344
22,184
30,440
35,954
21,928
31,207
27,806
25,689
23,018
26,630
25,666
32,197
26,115
29,581
27,578
23,270
27,993
27,291
33,830
27,305
30,901
29,055
24,530
29,245
28,443
35,290
28,671
32,233
30,299
25,678
Great Lakes
Illinois
Indiana
Michigan
Ohio .
Wisconsin
23,208
25,297
21,442
23,434
22,233
22,084
24,136
26,603
22,251
24,009
23,078
23,132
Plains ..
Iowa .
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
21,686
20,462
21,547
23,759
21,610
21,078
18,287
18,782
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
1997
Dollars
1995
1996
Rank in U.S.
1997
1997
20,041
20,814
21,607
23,353
26,849
17,638
23,680
22,487
20,653
18,750
24,228
27,898
18,388
24,593
23,214
21,263
19,333
25,325
29,311
19,053
25,711
24,146
22,248
19,908
i"
36
3
5
12
32
5
2
4
17
22,823
22,024
27,655
22,334
25,338
23,434
20,271
23,779
23,246
28,563
23,161
26,254
24,416
21,254
24,600
24,005
29,490
24,028
27,160
25,206
22,033
6
2
4
16
25,253
27,929
23,183
24,998
24,203
24,199
7
29
18
21
22
20,014
21,761
18,573
20,201
19,249
18,927
20,649
22,675
19,178
20,519
19,842
19,648
21,418
23,584
19,830
21,165
20,657
20,362
8
33
20
22
27
23,083
22,078
22,796
25,260
22,615
22,891
20,308
20,503
24,100
23,177
24,014
26,295
23,723
23,656
20,213
21,183
30
23
12
26
27
45
37
18,834
17,925
18,763
20,119
18,933
18,417
16,300
16,956
19,904
19,292
19,699
21,061
19,681
20,011
18,187
18,567
20,599
20,113
20,594
21,697
20,485
20,452
17,878
19,060
30
23
17
25
26
41
35
20,817
19,086
17,935
22,665
21,689
18,609
18,828
16,585
20,994
18,871
21,118
24,000
17,446
21,800
19,864
18,802
23,833
22,906
19,470
19,608
17,402
22,054
19,751
21,808
24,992
18,120
22,776
20,699
19,602
24,795
23,893
20,599
20,473
18,087
23,174
20,651
22,752
26,172
18,734
38
47
20
25
40
41
50
31
39
33
14
49
18,324
16,971
15,949
19,949
18,892
16,288
16,927
15,096
18,256
16,669
18,936
20,667
15,610
19,061
17,612
16,677
20,721
19,803
16,978
17,526
15,807
19,135
17,359
19,414
21,385
16,198
19,766
18,259
17,321
21,370
20,504
17,864
18,138
16,351
19,957
18,037
20,117
22,192
16,660
38
45
18
24
42
39
50
31
40
29
15
49
Southwest
Arizona
New Mexico
Oklahoma
Texas
20,578
20,068
18,003
18,560
21,279
21,535
21,057
18,599
19,363
22,285
22,734
21,994
19,249
20,214
23,647
35
48
44
28
18,346
17,585
16,068
16,422
19,061
19,050
18,271
16,508
17,029
19,808
20,002
18,911
16,959
17,661
20,927
37
48
44
21
Rocky Mountain
Colorado
Idaho .
Montana
Utah ..
Wyoming
21,227
24,290
18,947
18,310
18,182
20,695
22,310
25,618
19,729
18,886
19,244
21,532
23,436
27,015
20,393
19,704
20,246
22,611
9
42
46
43
34
18,369
20,877
16,551
16,175
15,675
18,281
19,168
21,823
17,205
16,605
16,556
18,577
19,967
22,787
17,663
17,186
17,320
19,347
10
43
47
46
34
Far West
Alaska
California
Hawaii
Nevada
Oregon
Washington
23,753
23,965
23,901
24,883
24,525
21,579
23,664
24,901
24,318
25,050
25,105
25,876
22,852
24,964
26,061
24,945
26,218
25,686
26,553
23,984
26,412
19
13
16
10
24
11
20,640
20,520
20,755
21,761
21,164
18,436
20,872
21,347
20,771
21,421
21,832
22,084
19,427
21,780
22,151
21,177
22,225
22,217
22,465
20,160
22,872
19
13
14
11
28
9
New England
Connecticut . . ..
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont .
Mideast
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania . . . .
:
.
.
1. Per capita personal income and per capita disposable personal income were computed using
midyear population estimates from the Bureau of the Census.
NOTE.—The personal income level shown for the United States is derived as the sum of the
State estimates. It differs from the national income and product accounts (NIPA) estimate of personal income because, by definition, it omits the earnings of Federal civilian and military personnel
1
36
3
8
15
32
6
7
stationed abroad and of U.S. residents employed abroad temporarily by private U.S. firms. It can
also differ from the NIPA estimate because of different data sources and revision schedules.
Source: Tables 2 and 4 in "State Personal Income, Revised Estimates for 1982-97" in the
October 1998 issue of the SURVEY.
D-67
SURVEY OF CURRENT BUSINESS
D-68 • Regional Data
November
Table J.4.—Gross State Product for States and Regions by Industry, 1996
[Millions of dollars]
AgriRank of
Total
culture,
total gross
gross state
state
forestry,
product
product
and fishing
State and region
United States1
Plains
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia .
West Virginia
.
. .
.
Southwest
Arizona
New Mexico
Oklahoma
Texas
. . ..
...
Rocky Mountain
Colorado
Idaho
Montana
.
Utah
Wyoming
Far West
Alaska
California
Hawaii
Nevada
Oregon
Washington
. ..
Finance,
insurance,
and real
estate
Services
Government
1,332,093
648,280
516,777
667,903
1,445,535
1,539,525
931,384
435,880
124046
28894
208,591
34108
25629
14,611
3,409
14,686
4,055
1,297
6,606
1,198
72,794
20712
5,333
32,265
7557
4,282
2,645
28,636
7,698
2,151
13,128
2,590
1,835
1,234
29,226
8,229
1,723
14,845
2,113
1,426
35,538
9,211
3,197
16,373
3,098
2,242
1,416
107,237
35041
5,340
50,880
7,566
5,802
2,607
101,792
27029
42,271
252
208
332
292
52
15
130
31
19
46
3043
1,762
9,244
2,464
48,440
290
14
6
12
100
128
471
970
442
7,216
9,675
17629
12,509
197,808
5,993
1,285
12,317
37,985
72154
68,074
121,614
1,509
2,769
11,307
27,540
49,518
28,971
92,909
1,124
17
8
2
6
1,440,922
28,331
51,197
143190
276,377
613287
328 540
9,046
25,132
37,741
19,286
106,168
1,698
1,369
12,514
20,221
42,056
28,310
358,390
10,026
8,863
30,573
64,187
182389
62352
324,047
4042
16,684
33229
60211
140228
69654
179,839
2673
19,180
25552
29,773
68323
34338
4
15
9
7
20
1,233,424
370 778
155,797
263,336
304 353
139,160
16,660
5052
2,735
2,526
50,574
15476
7,228
10,131
11,753
5,986
313,739
71444
49,338
71,683
82669
38,605
97,437
34,029
12,578
17,509
23,506
9,816
87,053
28,507
9,382
18,874
21,535
8,756
107,524
29,877
14,212
23,420
27,984
12,030
201,866
71,023
20,426
41,538
46511
22,367
226,610
76832
23*893
48,791
53989
23,105
127,292
37257
15289
27,691
22,473
3,138
2838
6,195
6,697
2,097
764
745
99,777
18,292
12,451
27,115
31,122
6,662
1,184
2,951
47,400
6,123
7,340
10,876
14,920
4,853
1,695
1,591
39,066
5,213
5,311
11,776
10,659
3,495
1,377
1,236
45,461
6,296
6,540
12,275
13,223
3,906
1,427
1,795
79,404
10,915
8,608
25,352
21,345
7,007
1,989
4,188
92,293
11,655
11 360
27,558
27,768
8,055
2,741
3,156
61,367
8,735
9597
15,374
16,246
6,669
2,374
2,373
315,211
22,131
13,898
29,286
39,079
26,833
22,989
13,208
55,075
23,768
32244
29,986
6,716
152,763
9,301
6,163
32,296
24,166
7,933
10,690
6,003
16,135
7,107
11,076
17,021
4,873
111,941
6,259
3,469
26,417
18,940
5,565
6,451
3,150
13,094
5,172
10,396
11,068
1,960
161,015
9,781
5,729
40,362
19,333
8,472
9,502
5,630
18,242
9,180
15,368
16,168
3,248
265,718
12,694
6,453
78,695
35,515
10,733
14,709
6,474
29,719
11,861
19,450
35,268
4,147
308,111
15,996
8,344
84,406
38,919
14,293
19,054
9,032
31 418
13,505
27633
39,364
6,147
228,041
15395
6,664
44696
27019
12,944
13,201
893
513
1,212
1338
1,524
2780
3298
1,748
4,670
1,282
715
895
635
890
580
5410
53,879
6617
5814
11 126
3915
19,273
3088
3106
3331
1,173
1 134
3,016
365
23,553
5,771
2986
3,406
29
31
18
16
36
49
46
514,201
76,315
68014
141,573
145,123
47,187
15,701
20,289
1,674,519
99190
56,417
360 496
216,033
95,410
121,143
56,406
204,229
89,476
140750
197,809
37,160
30,754
25
32
5
10
26
22
33
12
27
19
13
38
240
2,980
71,440
4,144
2,240
17,031
8,356
3,752
5,086
2,192
8,563
4,195
5,527
8,635
1,720
24
37
30
3
778,815
111,520
42,698
72,767
551,830
11,565
1,899
49,688
1,480
3,050
3,879
41,278
34,892
6,442
1,979
2,332
24,138
125,482
16,143
7,027
12,587
89,725
77,631
8,644
3,262
7,289
58,436
53,480
6,997
1,823
4,421
40,239
70,763
11,743
3,800
7,267
47,953
115,141
21,120
5,937
9,064
79,020
141,929
22,546
7,468
12,634
99,282
98,243
14,505
7,545
11,762
64,431
23
43
47
35
48
229,833
116,227
27,898
18,509
50,352
16,847
5,684
2,053
1,744
9,956
1,936
12,246
6,219
1,653
29,427
14,226
5,754
1,430
7,051
13,873
7,355
1,689
1,192
3,094
22,154
11,274
2,774
1,839
5,167
1,101
35,767
19,815
3,431
2,473
8,304
1,744
44,767
25,161
4,548
3,557
9,892
1,610
31,430
15,231
28,973
89,229
45
1
39
34
28
14
1,323,429
24,161
962,696
36,317
53,687
86,967
159,602
119,281
1,576
85,443
4,192
5,053
7,586
15,432
282,013
2,584
218,439
7,768
9,877
14,140
29,205
299,977
2,871
222,748
8077
17336
15,939
33,006
162,901
4,728
110,900
7752
5339
4174
2,621
4330
1,668
2,003
2016
2,886
6520
3,801
2,438
1,488
1,798
4,757
1,208
1 651
1,952
808
1,531
7,327
177
983
877
522
114
482
251
29,524
1,474
570
787
906
2,448
17,973
507
259
223
399
997
1,620
5,323
2,858
622
967
24,530
12,957
2,442
2,331
4,400
2,400
51,301
20,564
13,631
5,424
5,776
445
406
1,969
2,590
4,612
104
332
177,855
1,161
134,179
1,123
2,589
17,868
20,934
98,269
3,770
67,135
3,732
4,146
6,711
12,775
943
583
361
355
174
903
28
1. The GSP estimates for transportation and public utilities and for finance, insurance, and real estate differ from
BEA's November 1997 estimates of gross product originating (GPO) for the Nation for these industries because
of the incorporation of source data that were not available when the GPO estimates were published.
NOTE.—Totals shown for the United States differ from the national income and product account estimates of gross
domestic product (GDP) because GSP is derived from gross domestic income, which differs from GDP by the statistical discrepancy. In addition, GSP excludes and GDP includes the compensation of Federal civilian and military
Retail
trade
306,052
42
Great Lakes
Illinois
Indiana
Michigan
Ohio
Wisconsin
Wholesale
trade
113,631
44
50
. ..
Transportation and
public
utilities
129,842
21
41
11
40
Mideast
Delaware
District of Columbia
Maryland .
New Jersey
New York
Pennsylvania
Manufacturing
7,631,022
'.
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
Construction
Mining
893
983
31,656
1,753
4,495
4,731
7,683
543
710
65,857
1,446
2,478
6,937
11,802
31 941
15,114
8,410
26968
13,258
17005
37,351
5,129
3,691
2,948
7,383
2,177
10361
23823
personnel stationed abroad and government consumption of fixed capital for military structures located abroad and
for military equipment, except office equipment. Also, GSP and GDP have different revision schedules,
Source: Tables 6 and 7 in "Gross State Product by Industry, 1977-96" in the June 1998 issue of the SURVEY
OF CURRENT BUSINESS.
SURVEY OF CURRENT BUSINESS
November 2998
Regional Data •
D-69
K. Local Area Table.
Table K.1.—Personal Income and Per Capita Personal Income by Metropolitan Area, 1994-96
Personal income
Area name
Millions of dollars
Percent
change2
1995
1995-96
1994
United States l
Metropolitan portion
Nonmetropolitan portion
. .
Consolidated Metropolitan
Statistical Areas
Chicago-Gary-Kenosha, IL-IN-WI ...
Cincinnati-Hamilton, OH-KY-IN
Cleveland-Akron, OH
Dallas-Fort Worth, TX
Denver-Boulder-Greeley, CO
Detroit-Ann Arbor-Flint, Ml
Houston-Galveston-Brazoria, TX ....
Los Angeles-Riverside-Orange
County CA
Miami-Fort Lauderdale FL
Milwaukee-Racine Wl
New York-No. New Jersey-Long IsPhiladelphia-Wilmington-Atlantic
City, PA-NJ-DE-MD
Sacramento-Yolo, CA
San Francisco-Oakland-San Jose,
CA
Seattle-Tacoma-Bremerton, WA
Washington-Baltimore, DC-MD-VA-
wv
Metropolitan Statistical Areas4
Abilene TX
Akron OH*
Albany GA
Albany-Schenectady-Troy, NY
Albuquerque, NM
Alexandria, LA
.....
Allentown-Bethlehem-Easton, PA ...
Altoona PA
Amarillo TX
Anchorage, AK
Ann Arbor Ml*
Anniston, AL
Appleton-Oshkosh-Neenah, Wl
Asheville NC
Athens GA
Atlanta GA
Atlantic-Cape May NJ*
Augusta-Aiken GA-SC
Austin-San Marcos TX
Bakersfield, CA
Baltimore MD*
Bangor ME (NECMA)
Barnstable-Yarmouth, MA
(NECMA)
Baton Rouge LA
Beaumont-Port Arthur, TX
Bellingham WA
Benton Harbor Ml
Bergen- Passaic NJ*
Billings MT
Biloxi-Gulfport-Pascagoula, MS
Binohamton NY
Birmingham AL
Bismarck, ND
Bloomington, IN
Bloomington-Normal, IL
Boise City, ID
Boston-Worcester-Lawrence-LowellBrockton, MA-NH (NECMA)
Boulder-Longmont CO*
Brazoria, TX*
Bremerton WA*
Brownsville-Harlingen-San Benito,
Bryan-College Station, TX
Rnffaln Mianara Pallc MV
Burlington, VT (NECMA)
Canton-Massillon OH
Casper, WY
Cedar Rapids IA
Champaign-Urbana IL
Charleston-North Charleston, SC ...
Charleston WV
Charlotte-Gastonia-Rock Hill, NC-
sc
Charlottesville, VA
Chattanooga TN-GA
Cheyenne WY
Chicago IL*
Chico-Paradise CA
Cincinnati OH-KY-IN*
Clarksville-Hopkinsville, TN-KY
See footnotes at the end of the table.
Per capita personal income 3
5,774,875 6,137,87
4,883,837 5,201,69
891,038 936,18
1996
6,480,03
5,490,33
989,693
5.6
5.5
5.7
Rank in
Dollars
U.S.
1994
1995
1996
22,18
23,49
16,99
23,35
24,79
17,67
24,43
25,92
18,53
Cleveland-Lorain-Elyria, OH*
Colorado Springs CO
Pnlnmhia MD
238,058
45,357
72,543
114,31o
60,77
141,283
105,839
250,787
47,786
75,712
122,834
65,084
147,044
112,597
5.3
5.4
4.4
7.5
7.1
4.1
6,4
26,242
22,51
23,485
24,294
25,657
24,802
24,046
341,769
75,283
39,656
360,329
80,181
42,156
378,298
84,660
44,087
5.0
5.6
4.6
22,417 23,533 24,522
22,150 23,294 24,341
24,268 25,768 26,923
590,202
626,539
659,399
5.2
29,970 31,732 33,303
152,556
44,697
35,322
161,128
48,636
37,783
169,717
52,531
39,619
5.3
8.0
4.9
25,587 26,989 28,413
22,508 24,000 25,343
22,283 23,518 24,288
188,817
81,292
203,046
87,159
217,884
93,546
7.3
7.3
28,990 30,989 32,933
25,287 26,716 28,269
195,280
205,681
215,836
4.9
27,766 29,018 30,204
2,161
14,721
2,066
20,327
13,132
2,303
13,828
2,391
3,930
6,907
2,333
15,812
2,187
21,010
14,255
2,413
14,551
2,488
4,211
7,057
2,452
16,562
2,305
21,708
14,943
2,477
15,228
2,616
4,377
7,209
5.1
4.7
5.4
3.3
4.8
2.7
4.7
5.1
4.0
2.2
17,824
21,873
17,768
23,069
20,331
18,294
22,649
18,079
19,776
27,471
19,057
23,386
18,790
23,850
21,598
19,048
23,804
18,849
20,610
28,129
20,198
24,371
19,688
24,695
22,353
19,656
24,866
19,919
21,215
28,908
228
90
247
82
146
249
77
239
187
28
13,561
1,921
7,201
4,119
2,424
81,442
8,582
8,442
20,642
10,255
14,687
2,034
7,730
4,430
2,623
89,020
9,060
8,868
22,704
10,671
15,464
2,107
8,158
4,706
2,802
96,193
9,413
9,134
24,632
11,073
5.3
3.6
5.5
6.2
6.8
8.1
3.9
3.0
8.5
3.8
26,441
16,553
21,704
20,205
18,187
24,451
26,067
18,848
21,350
16,790
28,165
17,439
23,026
21,407
19,487
25,938
27,360
19,604
22,615
17,335
29,137
18,082
24,030
22,454
20,463
27,241
28,266
20,161
23,669
17,810
25
290
98
142
218
37
31
230
109
295
59,932
2,615
62,952
2,706
65,994
2,805
4.8
3.7
24,429 25,558 26,731
17,909 18,728 19,495
44
261
5,115
11,251
6,996
2,760
3,234
42,747
2,510
5,814
5,515
11,880
7,354
2,956
3,422
44,777
2,674
6,061
5,870
12,404
7,598
3,170
3,523
46,943
2,791
6,291
6.4
4.4
3.3
7.2
3.0
4.8
4.4
3.8
26,188
20,176
18,729
18,938
20,063
32,518
20,468
17,259
27,700
21,135
19,621
19,828
21,168
33,920
21,482
17,775
29,009
21,910
20,292
20,827
21,861
35,371
22,235
18,440
26
164
225
203
166
5
153
287
5,152
19,172
1,710
2,037
3,067
7,804
5,255
20,521
1,816
2,154
3,226
8,555
5,403
21,659
1,914
2,277
3,420
8,983
2.8
5:5
5.4
5.7
6.0
5.0
19,680
21,787
19,440
17,933
22,483
22,408
20,403
23,101
20,386
18,687
23,271
23,693
21,274
24,227
21,227
19,646
24,504
24,096
180
94
185
251
85
97
154,929
6,705
3,990
4,330
166,492
7,217
4,235
4,560
175,769
7,705
4,498
4,812
5.6
6.8
6.2
5.5
27,095
26,897
18,798
20,024
28,925
28,448
19,631
20,193
30,366
29,914
20,405
20,815
16
19
221
204
3,505
1,986
25,457
4,035
8,083
1,468
4,105
3,238
9,195
5,465
3,684
2,083
26,750
4,369
8,558
1,578
4,354
3,405
9,501
5,653
3,911
2,202
27,677
4,632
8,890
1,620
4,592
3,580
9,889
5,889
6.1
5.7
3.5
6.0
3.9
2.6
5.5
5.1
4.1
4.2
11,734
15,207
21,464
21,673
20,133
23,008
23,237
9,495
7,709
21,513
12,029
15,862
22,659
23,279
21,278
24,733
24,323
20,400
18,643
22,225
12,461
16,748
23,588
24,445
22,077
25,454
25,521
21,312
19,678
23,149
313
306
114
88
157
62
61
178
248
124
28,714
3,354
8,926
1,604
205,523
3,349
36,190
2,851
31,350
3,607
9,538
1,685
219,619
3,482
38,440
3,091
33,556
3,826
10,009
1,729
231,378
3,682
40,465
3,287
7.0
6.1
4.9
2.6
5.4
5.8
5.3
6.3
22,819
23,926
20,357
20,588
26,897
7,453
22,925
5,486
24,350
25,338
21,571
21,518
28,587
18,040
24,216
6,465
25,446
26,461
22,517
21,974
29,948
19,084
25,359
6,933
63
49
138
159
18
276
65
304
27,86
23,78
24,957
25,663
27,262
26,264
25,424
Area name
1996
222,978
42,644
68,194
106,085
56,092
132,287
98,543
29,195
24,90
26,025
26,906
28,650
27,113
26,556
Per capita personal income3
Personal income
Percent
change2
Millions of dollars
1995-96
Rank in
LJ.S.
Dollars
1994
1995
1996
1994
1995
1996
53,47
56,730
9,812
59,15
10,54
4.3
7.5
23,97
19,87
25,43
21,11
26,52
22,32
46
148
2,82
20,28
20,33
17,665
22,738
17,38
16,63
25,59
16,97
21,50
21,51
18,77
23,91
18,12
17,24
27,14
17,80
22,42
22,52
19,89
24,86
19,03
18,05
28,51
18,40
144
137
243
78
277
292
29
288
9,00
1996
35,96
7,285
74,328
1,862
2,655
10,556
5,098
34,293
6,866
1,739
80,498
1,947
86,785
2,005
6.4
6.2
5.9
4.9
6.1
3.9
7.8
3.0
7,332
20,870
7,729
22,184
8,122
23,017
5.1
3.8
20,54
21,88
21,63
23,29
22,74
24,23
132
93
7,903
2,626
2,438
46,819
10,016
109,265
2,364
2,162
1,770
4,539
8,460
2,788
2,546
50,815
10,669
116,667
2,508
2,318
1,866
4,775
8,959
2,911
2,719
54,449
11,339
121,458
2,579
2,481
1,952
5,024
5.9
4.4
6.8
7.2
6.3
4.1
2.8
7.0
4.6
5.2
17,892
18,998
20,902
26,119
23,996
24,897
17,669
18,123
20,088
18,863
18,78
19,98
21,90
27,81
25,24
26,37
18,70
19,15
21,13
20,06
19,56
20,70
23,58
29,23
26,55
27,25
19,33
20,374
22,09
21,14
255
210
116
24
45
36
268
223
156
191
6,133
2,587
9,004
3,632
1,769
1,071
5,541
5,782
6,146
3,179
6,479
2,768
9,491
3,823
1,848
1,110
5,758
6,217
6,384
3,373
6,823
2,921
9,919
3,958
1,933
1,161
5,989
6,601
6,748
3,680
5.3
5.5
4.5
3.5
4.6
4.6
4.0
6.2
5.7
9.1
23,519
18,271
13,536
22,170
18,749
18,897
19,775
19,351
21,478
19,654
24,79
19,46
14,02
22,948
19,630
19,419
20,552
20,520
22,247
20,622
25,94
20,45
14,48
23,44
20,65
20,417
21,389
21,534
23,430
22,335
55
219
312
118
212
220
176
172
119
147
4,892
4,711
1,829
9,461
2,401
2,194
4,449
34,500
8,340
6,428
5,251
5,124
1,965
9,929
2,567
2,303
4,855
36,990
8,966
6,868
5,549
5,449
2,105
10,121
2,668
2,441
5,280
39,081
9,578
7,321
5.7
6.3
7.1
1.9
3.9
6.0
8.8
5.7
6.8
6.6
17,261
19,346
16,049
21,892
17,744
18,136
20,959
24,883
22,706
23,110
18,468
20,217
16,885
22,875
18,884
18,808
22,378
26,167
23,903
24,281
19,556
20,856
17,847
23,240
19,508
19,808
23,841
27,129
25,144
25,269
256
202
294
123
259
245
103
40
71
68
3,249
3,071
10,391
31,757
14,666
1,743
3,681
4,759
12,795
2,242
3,449
3,211
11,017
33,817
15,260
1,834
3,936
5,046
13,435
2,347
3,599
3,514
11,513
36,048
16,097
1,867
4,140
5,322
14,151
2,436
4.3
9.4
4.5
6.6
5.5
1.8
5.2
5.5
5.3
3.8
17,576
19,109
22,205
21,710
17,526
17,096
19,039
20,270
20,725
18,418
18,311
19,666
23,400
22,711
18,043
17,978
20,131
21,256
21,676
19,181
18,841
21,218
24,281
23,690
18,727
18,248
20,968
22,154
22,783
19,902
281
186
92
106
284
289
200
155
130
242
1,751
1,793
1,889
1,881
1,880
2,016
1,990
2,026
2,145
5.8
7.8
6.4
16,111 17,004 17,798
17,206 18,081 19,583
18,257 18,999 19,806
296
254
246
21,577
1,524
2,568
4,645
23,213
1,627
2,739
4,984
24,508
1,701
2,931
5,234
5.6
4.5
7.0
5.0
21,807
18,803
17,776
22,421
24,139
21,051
19,328
24,638
95
195
269
83
24,599
2,165
26,488
2,342
28,025
2,478
5.8
5.8
22,212 23,578 24,597
18,671 19,877 20,800
84
205
16,753
18,099
19,030
5.1
19,233 20,511 21,267
182
Hrvnnliiln Ml
Houma, LA
Houston, TX*
Huntington-Ashland, WV-KY-OH ....
2,303
6,454
13,782
31,062
1,646
5,988
22,372
2,952
89,794
5,330
2,427
6,917
14,551
32,492
1,775
6,291
23,200
3,110
96,557
5,499
2,535
7,321
15,343
33,713
1,876
6,598
23,507
3,310
102,778
5,663
4.5
5.8
5.4
3.8
5.7
4.9
1.3
6.4
6.4
3.0
18,255
20,438
22,635
27,916
15,912
19,574
25,768
15,781
24,593
16,852
19,119
21,652
23,816
29,322
16,763
20,280
26,693
16,541
26,028
17,385
19,917
22,640
25,002
30,473
17,386
20,988
27,040
7,476
^7,195
7,922
240
134
74
15
300
197
41
299
39
293
Huntsville, AL
Indianapolis, IN
Iowa City, IA
Jackson, Ml
Jackson, MS
Jackson, TN
Jacksonville, FL
Jacksonville, NC
Jamestown, NY
Janesville-Beloit, Wl
6,799
34,870
2,200
2,890
8,000
1,841
20,826
2,027
2,494
3,038
7,172
36,666
2,278
3,073
8,655
1,979
22,486
2,152
2,568
3,288
7,456
38,557
2,406
3,188
9,105
2,068
24,041
2,313
2,652
3,402
4.0
5.2
5.6
3.8
5.2
4.5
6.9
7.4
3.3
3.5
20,769
23,915
21,903
8,967
9,440
9,191
21,452
4,194
7,598
20,808
21,884
24,884
22,495
20,025
20,831
20,355
22,828
5,118
8,175
22,184
22,595
25,898
23.687
20^44
21,592
21,029
23,679
6,184
8,793
2,685
135
56
107
213
169
196
108
308
282
133
Jersey City, NJ*
Johnson City-Kingsport-Bristol, TNVA
Johnstown PA
12,244
12,879
13,433
4.3
22,305 23,465
4,456
87
7,943
4,211
8,499
4,394
8,902
4,569
4.7
4.0
9,482
9,105
264
274
Columbia, SC
Columbus GA-AL
Columbus OH
Corpus Christi TX
Cumberland MD-WV
Dallas TX*
Danville VA
Davenport-Moline-Rock Island, IAIL
Davton-SDrinofield OH
Daytona Beach, FL
Decatur AL .
Decatur, IL
:
Denver CO*
Des Moines, IA
Detroit, Ml*
Dothan, AL
Dover DE
Dubuque, IA
Duluth-Superior, MN-WI
Dutchess County, NY*
Eau Claire, Wl
El Paso, TX
Elkhart-Goshen IN
Elmira, NY .
. .
Enid OK
Erie, PA
Eugene-Springfield, OR
Evansville-Henderson, IN-KY
Fargo-Moorhead, ND-MN
Fayetteville, NC
Fayetteville-Springdale-Rogers, AR
Flagstaff, AZ-UT
Flint, Ml*
Florence, AL ..,
Florence, SC
Fort Collins-Loveland, CO
Fort Lauderdale, FL*
Fort Myers-Cape Coral, FL
Fort Pierce-Port St. Lucie, FL
Fort Smith, AR-OK
Fort Walton Beach, FL
Fort Wayne, IN ...
Fort Worth-Arlington, TX*
Fresno, CA
Gadsden, AL
Gainesville, FL ....
Galveston-Texas City, TX*
Gary, IN*
Glens Falls, NY ..
Goldsboro NC
Grand Forks, ND-MN
Grand Junction, CO
Grand Rapids-Muskegon-Holland,
Ml
Great Falls MT
Greeley, CO*
Green Bay, Wl
Greensboro-Winston-Salem-High
Pnint MP
Greenville-Spartanburg-Anderson,
SC
Hagerstown, MD*
Hamilton-Middletown, OH*
Harrisburg-Lebanon-Carlisle, PA ....
Hartford, CT (NECMA)
Hattiesburg, MS
Hickory-Morganton-Lenoir, NC
2,45
9,84
4,82
32,31
6,52
1,68
11,21
5,39
1,80
7,671
7,511
23,158
20,120
18,475
23,706
8,742
8,291
SURVEY OF CURRENT BUSINESS
D-70 • Regional Data
November 1998
Table K.1.—Personal Income and Per Capita Personal Income by Metropolitan Area, 1994-96—Continued
Per capita personal income3
Personal income
Area name
1994
Jonesboro AR
Joplin, MO
Kalamazoo-Batlle Creek, Ml
Kankakee, IL* ....
Kansas City, MO-KS
Kenosha, Wl* ....
Killeen-Temple, TX
Knoxville, TN
Kokomo, IN
La Crosse, WI-MN
Lafayette, LA
Lafayette, IN
Lake Charles, LA
Lakeland-Winter Haven, FL
Lancaster, PA ...
Lansing-East Lansing, Ml
Laredo, TX
Las Cruces, NM
Las Vegas, NV-AZ
Lawrence, KS
Lawton, OK
Lewiston-Auburn, ME (NECMA)
Lexington, KY ....
Lima, OH
Lincoln, NE
Little Rock-North Little Rock, AR
Lonoview-Marshall TX
Los Angeles-Long Beach, CA*
Lubbock, TX
Lynchburg, VA
Macon, GA
Mansfield OH
McAllen-Edinburg-Mission, TX
Medford-Ashland OR
Melbourne-Titusville-Palm Bay, FL
Memphis, TN-AR-MS
Merced, CA
Miami
PI *
Middlesex-Somerset-Hunterdon,
NJ*
Milwaukee-Waukesha, Wl*
Minneapolis-St. Paul, MN-WI
Mnhib Al
Modesto CA
Monmouth-Ocean NJ*
Monroe LA
Muncie, IN
Myrtle Beach, SC
Naples, FL
Nashville, TN
Maccaii Qnffnlk
MV*
New Haven-Bridgeport-StamfordDanbury-Waterbury, CT*
New London-Norwich, CT
(NECMA)
New Orleans LA
New York NY*
Newark, NJ*
Newburgh, NY-PA*
Norfolk-Virginia Beach-Newport
News, VA-NC
Oakland, CA*
Ocala FL
Odessa-Midland TX
Oklahoma City OK
Olympia WA* '
Omaha, NE-IA
Orange County CA*
Hrlanrlrt PI
Owensboro KY
. . .
Panama City, FL
Parkersburg-Marietta, WV-OH
Pensacola FL
Peoria-Pekin !L
Philadelphia PA-NJ*
Phoenix-Mesa, AZ
Pine Bluff AR
Pittsburgh PA
Pittsfield, MA (NECMA)
Pocatello ID
Portland, ME (NECMA)
Portland-Vancouver, OR-WA*
Providence-Warwick-Pawtucket, Rl
(NECMA)
Provo-Orem UT
Pueblo CO
Punta Gorda FL
Racine Wl*
Percent
change2
Millions of dollars
1995-96
Rank in
Dollars
1994
U.S.
1996
1,337
2,754
9,771
2,040
41,353
2,964
4,875
1,415
2,942
10,204
2,159
43,810
3,098
5,114
13,906
2,418
2,554
6,481
3,343
3,390
8,278
10,287
9,697
2,007
14,420
2,512
2,705
6,916
3,531
3,577
8,797
10,870
10,092
2,160
2,295
26,739
1,627
1,904
1,992
9,805
3,122
5,136
11,850
3,886
2,383
29,588
1,717
1,965
2,071
10,522
3,222
5,451
12,531
4,114
216,269
23,298
4,586
4,133
6,127
10,510
3,379
5,303
3,392
9,412
226,592
24,487
4,874
4,309
6,487
11,080
3,517
5,680
3,605
9,836
25,603
2,999
43,190
26,826
3,294
45,579
33,091
35,578
70,644
9,038
7,149
28,071
2,537
6,217
2,311
2,800
5,820
25,676
82,459
35,459
37,815
75,469
9,608
7,404
29,758
2,728
37,473
39,526
80,878
10,156
7,884
31,199
2,881
6,620
2,411
3,092
6,073
27,852
85,472
6,956
2,491
3,318
6,577
29,266
89,919
55,291
59,964
63,249
5.5
34,063 36,964 38,962
2
6,289
26,769
253,351
6,643
28,209
270,487
6,927
29,021
285,207
24,956 26,228 27,385
20,474 21,527 22,179
29,498 31,474 33,177
34
154
11
59,212
7,383
62,635
7,739
65,787
8,069
4.3
2.9
5.4
5.0
4.3
30,675 32,401 33,952
20,814 21,583 22,279
9
150
29,902
59,219
3,830
4,840
19,537
3,984
14,997
67,828
31,397
62,872
4,114
5,121
20,515
4,253
16,094
71,734
32,726
66,728
4,392
5,392
21,620
4,538
17,206
75,793
19,616
26,910
17,460
20,520
19,429
21,279
22,641
26,534
20,507
28,405
18,217
21,607
20,244
22,114
24,021
27,735
21,311
29,842
18,975
22,493
21,148
23,068
25,291
28,936
179
20
278
140
190
127
67
27
27,897
1,671
2,488
2,867
6,521
7,451
126,715
53,320
1,327
54,830
29,832
1,747
2,563
2,992
6,913
7,776
133,692
58,994
1,397
57,665
31,987
1,824
2,819
3,114
7,409
8,207
140,791
64,359
1,456
60,194
20,455
18,552
17,832
18,925
17,568
21,670
25,588
20,911
15,763
22,880
21,437
19,301
18,060
19,740
18,282
22,486
26,993
22,166
16,732
24,167
22,425
20,104
19,487
20,581
19,146
23,701
28,447
23,377
17,567
25,359
143
233
262
215
273
105
30
121
298
65
3,146
1,186
5,945
39,034
3,329
1,261
6,291
42,504
3,470
1,326
6,614
45,997
4.2
6.1
6.8
5.3
5.4
6.7
6.9
5.7
7.2
4.4
10.0
4.1
7.2
5.6
5.3
9.1
4.3
4.4
4.2
5.1
5.1
8.2
23,203
16,476
24,059
23,252
24,635
17,269
25,391
24,809
25,759
18,073
26,479
26,228
59
291
47
53
20,364
4,305
2,209
2,456
4,077
21,480
4,772
2,416
2,645
4,341
22,173
5,156
2,520
2,827
4,561
3.2
8.0
4.3
6.9
5.1
22,368
14,260
17,320
19,518
22,342
23,668
15,352
18,674
20,469
23,617
24,478
16,099
19,235
21,535
24,721
86
309
270
171
80
5.8
6.8
4.4
5.8
5.9
4.5
4.9
3.7
3.9
5.9
6.7
5.6
5.5
6.3
5.7
4.1
7.6
3.9
10.7
5.6
3.2
4.0
7.3
3.2
6.1
5.7
5.9
4.8
5.1
6.3
4.3
5.9
5.4
4.1
7.1
6.3
4.5
4.8
9.8
5.5
5.7
4.5
7.2
5.7
6.5
4.8
5.6
5.1
3.3
7.3
8.3
5.1
5.2
1995
1996
16,638
18,024
20,967
18,783
23,281
20,102
15,816
17,891
19,182
22,078
20,142
24,738
21,268
16,744
18,590
20,195
22,962
21,261
25,949
21,913
17,117
286
229
128
183
54
162
301
20,588
22,372
20,395
17,042
19,040
18,336
18,061
22,147
20,747
11,732
21,740
24,258
21,175
17,779
19,690
19,287
18,977
22,997
21,784
11,675
22,247
25,053
22,320
18,785
20,640
20,084
19,905
24,138
22,587
12,199
152
72
148
283
214
234
241
96
136
314
13,627
22,244
17,350
15,436
18,718
21,061
19,200
21,305
20,541
18,234
14,378
23,481
18,431
16,525
19,416
22,579
20,069
22,413
21,878
19,086
14,529
24,706
19,147
17,090
20,385
23,929
20,727
23,591
22,882
19,950
311
81
272
302
222
101
209
113
129
238
22,584
22,418
19,000
19,435
18,771
25,161
18,340
10,680
19,447
20,245
23,885
23,666
19,824
20,256
19,853
26,798
19,275
11,032
20,502
20,922
24,945
24,764
21,065
20,962
20,791
28,087
20,067
11,478
21,410
21,640
75
79
193
201
206
32
236
315
175
168
22,492 24,048 24,945
15,641 15,505 17,064
20,268 21,292 22,370
75
303
145
31,051
24,510
26,246
17,664
17,602
27,162
17,398
32,928
26,040
27,682
18,627
18,037
28,359
18,619
34,366
27,202
29,299
19,508
18,953
29,343
19,621
7
38
23
259
279
22
252
19,989
19,435
18,407
32,737
24,040
31,187
21,088
20,304
19,626
33,204
25,507
32,237
21,973
21,063
20,271
34,830
26,262
33,837
161
194
226
6
51
10
1. The personal income level shown for the United States is derived as the sum of the county estimates; it
differs from the national income and product accounts (NIPA) estimate of personal income because, by definition,
it omits the earnings of Federal civilian and military personnel stationed abroad and of U.S. residents employed
abroad temporarily by private U.S. firms. It can also differ from the NIPA estimate because of different data sources
and revision schedules.
2. Percent change was calculated from unrounded data.
3. Per capita personal income was computed using Census Bureau midyear population estimates. Estimates for
1994-96 reflect county population estimates available as of March 1998.
4. Includes Metropolitan Statistical Areas, Primary Metropolitan Statistical Areas (PMSA's designated by *), and
Raleigh-Durham-Chapel Hill, NC ...
Reading, PA
Redding, CA
Reno NV
Richland-Kennewick-Pasco, WA ....
Richmond-Petersburg, VA
Riverside-San Bernardino, CA*
Roanoke VA
Rochester, MN
Rochester, NY
Rockford IL
. ..
Rocky Mount NC
Sacramento CA*
Saginaw-Bay City-Midland, Ml
St. Cloud, MN
St Joseph MO
St Louis MO-IL
Salem OR*
Salinas CA
Salt Lake City-Ogden UT
San Angelo TX
. .
San Antonio, TX
San Diego CA
San Francisco CA*
San Jose CA*
San Luis Obispo-Atascadero-Paso
Robles, CA
Santa Barbara-Santa MariaLompoc, CA
Santa Cruz-Watsonville, CA*
Santa Fe, NM
Santa Rosa, CA*
Sarasota-Bradenton, FL
Savannah GA
Scranton-Wilkes-Barre-Hazleton,
PA
Seattle-Bellevue-Everett, WA*
Sharon, PA
Sheboygan, Wl
Sherman-Denison, TX
Shreveport-Bossier City, LA
Sioux City IA-NE
Sioux Falls, SD
South Bend, IN
Spokane WA
Springfield, IL
Springfield, MO
Springfield, MA (NECMA)
Steubenville-Weirton, OH-WV
Sumter, SC
Syracuse, NY
Tacoma WA*
Tallahassee, FL
Tampa-St. Petersburg-Clearwater,
FL
Terre Haute, IN
Texarkana, TX-Texarkana, AR
Toledo OH
Topeka KS
Trenton', NJ*
Tucson AZ
. ..
Tulsa, OK
Tuscaloosa AL
Tyler, TX
Utica-Rome, NY
Vallejo-Fairfield-Napa, CA*
Ventura, CA*
Victoria, TX
Vineland-Millville-Bridgeton, NJ*
Visalia-Tulare-Porterville, CA
Waco TX
Washington, DC-MD-VA-WV*
Waterloo-Cedar Falls, IA
Wausau Wl . .. .
. . .
West Palm Beach-Boca Raton, FL
Wheeling, WV-OH
Wichita KS
Wichita Falls TX
Williamsport, PA
Wilmington-Newark, DE-MD*
Wilmington NC
Yakima WA
Yolo CA*
York, PA
Youngstown-Warren, OH
Yuba City, CA
Yuma AZ
Percent
change 2
Millions of dollars
Area name
1996
1995
1,219
2,554
9,241
1,898
38,562
2,761
4,555
12,954
2223
2,448
6,143
3,201
3,184
7,756
9,804
9,213
1,930
2,136
23,990
1,511
1,814
1,931
9,063
2,993
4,817
11,025
3,668
204,873
21,942
4,373
3,942
5,755
9,797
3,214
4,954
3,150
8,961
23,677
3,068
40,783
Per capita personal income 3
Personal income
1994
1995
1996
22,796
24,901
26,843
1,630
8,085
3,053
7,495
3,581
22,776
52,445
5,192
2,652
25,426
1,734
8,481
3,137
8,178
3,709
23,991
54,696
5,566
2,792
26,696
1,805
8,890
3,262
8,819
3,808
25,213
57,446
5,804
2,996
27,751
7,421
2,472
32,231
8,497
2,765
1,800
60,119
5,663
8,021
22,195
7,931
2,635
34,506
9,014
2,921
1,881
64,142
6,132
8,477
24,130
8,293
2,801
36,201
9,426
3,132
1,971
67,118
6,534
8,761
26,085
1,843
27,806
58,191
57,102
46,175
1,947
29,887
61,380
61,301
51,238
2,040
31,553
65,008
65,512
56,218
4,397
4,652
4,941
9,415
5,835
3,113
10,196
9,874
6,207
3,421
10,761
10,395
6,631
3,535
11,524
14,472
5,596
15,575
5,952
16,443
6,320
12,364
60,298
2,156
2,331
1,751
7,310
2,325
3,500
12,924
64,801
2,267
2,478
1,880
7,630
2,492
3,719
13,398
69,844
2,370
2,581
2,014
7,865
2,659
4,018
5,472
7,803
4,403
5,704
12,639
2,389
2,441
9,456
1,552
15,479
5,782
8,303
4,579
6,139
13,451
2,538
2,531
9,885
1,638
16,133
5,943
8,701
4,819
6,444
13,949
2,662
2,615
10,410
1,743
16,581
12,680
4,813
13,544
5,169
14,353
5,450
46,279
2,686
2,082
13,336
3,561
10,220
13,838
15,668
49,670
2,805
2,198
14,094
3,770
10,891
14,828
16,525
52,738
2,872
2,306
14,628
3,936
11,296
15,766
17,456
2,850
3,242
5,849
10,291
16,624
1,605
2,785
5,417
3,535
133,045
3,011
3,469
6,006
10,666
17,630
1,696
2,882
5,569
3,793
140,302
3,159
3,706
6,101
11,271
18,467
1,801
2,964
5,918
3,960
147,306
2,401
2,366
32,694
2,835
10,952
2,507
2,169
14,474
3,774
3,718
2,522
2,519
35,409
2,917
11,630
2,716
2,239
15,494
4,083
3,885
2,624
2,656
37,933
3,023
12,430
2,849
2,325
16,548
4,388
4,204
3,090
7,838
11,660
2,249
1,726
3,278
8,301
12,306
2,344
2,025
3,418
8,686
12,670
2,446
1,946
Rank in
U.S.
Dollars
1994
1995
1996
1996
23,643
18,848
23,198
19,111
26,468
20,597
24,860
17,979
22,730
23,486
23,399
21,479
17,606
22,397
21,101
17,662
18,399
23,733
18,441
23,304
18,731
18,276
19,457
22,111
34,932
29,757
25,061
19,917
24,209
19,499
28,126
20,690
25,909
18,453
24,382
24,834
24,588
22,738
18,510
23,661
22,394
18,425
19,311
25,238
19,578
24,580
20,015
19,193
20,499
23,201
37,391
32,707
26,255
20,770
25,248
20,144
29,528
21,120
26,974
19,090
25,387
26,478
25,543
23,523
19,474
24,444
23,390
19,594
20,298
26,337
20,480
25,032
21,271
19,996
21,237
24,282
39,746
35,395
52
207
69
231
21
192
43
275
64
48
60
117
265
89
120
253
224
50
217
73
181
237
184
91
1
4
6.2
19,645 20,515 21,483
173
5.3
6.8
3.3
7.1
5.6
6.2
24,589
24,846
23,714
24,813
27,937
20,299
25,764
26,288
25,255
25,860
29,674
21,343
27,003
27,896
25,774
27,353
30,931
22,477
42
33
58
35
14
141
3.7
7.8
4.5
4.2
7.1
3.1
6.7
8.0
2.8
4.8
5.3
5.0
3.7
4.9
3.3
5.3
6.4
2.8
6.0
5.4
19,470
27,736
17,695
21,729
17,998
19,395
19,475
22,632
21,468
19,712
21,779
19,766
21,240
18,435
17,445
18,274
14,616
20,622
19,895
18,891
20,462
29,494
18,579
22,811
19,159
20,156
20,693
23,724
22,543
20,691
22,556
20,884
22,687
19,460
18,165
18,845
15,357
21,552
20,928
20,069
21,363
31,372
19,386
23,583
20,080
20,756
21,974
25,246
23,095
21,555
23,633
21,702
23,601
20,135
18,919
19,531
16,298
22,253
21,913
20,985
177
13
267
115
235
208
159
70
126
170
110
167
112
232
280
258
307
151
162
199
6.2
2.4
4.9
3.8
4.4
3.7
6.3
5.6
4.9
6.8
1.6
5.7
4.7
6.2
2.8
6.3
4.4
5.0
4.0
5.4
7.1
3.6
6.9
4.9
3.8
6.8
7.5
8.2
4.3
4.6
3.0
4.4
-3.9
21,503
18,002
16,981
21,804
21,620
31,114
18,840
21,182
18,277
20,316
18,573
21,419
23,714
20,066
19,672
15,712
18,267
29,874
19,419
19,700
34,066
17,991
21,317
18,961
17,986
26,844
19,518
17,751
21,158
21,780
19,351
16,695
14,357
22,817
18,772
17,916
23,066
22,883
33,078
19,647
22,170
19,003
21,457
19,511
22,197
24,937
21,048
20,409
16,035
19,099
31,192
20,565
20,864
36,213
18,657
22,470
20,081
18,689
28,429
20,389
18,216
22,104
22,773
20,515
17,196
16,627
23,984
19,226
18,666
23,955
23,888
34,292
20,535
23,141
19,887
22,506
20,220
23,267
25,839
22,065
20,987
16,905
19,655
32,376
21,463
21,865
38,081
19,483
23,753
20,706
19,538
30,103
21,187
19,454
22,747
23,610
21,192
17,739
15,520
99
271
285
100
102
8
216
125
244
139
227
122
57
158
198
305
250
12
174
165
3
263
104
210
257
17
189
266
131
111
188
297
310
1995-96
7.8
4.1
4.8
4.0
7.8
2.7
5.1
5.0
4.3
7.3
4.0
4.6
6.3
4.9
4.6
7.2
4.8
4.6
6.6
3.4
8.1
4.8
5.6
5.9
6.9
9.7
New England County Metropolitan Areas (NECMA's). The New Haven-Bridgeport-Stamford-Danbury-Waterbury, CT
NECMA is presented as a PMSA (part of the New York CMSA).
Source: Table 1 in "Local Area Personal Income, 1969-96" in the May 1998 issue of the SURVEY OF CURRENT
BUSINESS.
SURVEY OF CURRENT BUSINESS
November 1998
Regional Data • D-71
L. Charts_
SHARES Or US. rtnSUNAL INOOMc BY HbUION
1997
1969
Great Lakes
16.4%
Mideast
23.6%
Great Lakes
20.8%
New England
6.4%
Far West
15.2%
Southeast
17.3%
New England
6.0%
Rocky Mountain
2.2%
Southwest
7.0%
Far West
17.2%
Southeast
21.9%
Southwest
9.8%
Rocky Mountain
2.9%
SHARES OF U.S. GROSS STATE PRODUCT BY REGION
1977
Great Lakes
19.6%
Great Lakes
16.2%
Mideast
20.1%
1996
Mideast
18.9%
New England
5.2%
Plains
7.5%
New England
5.7%
Far West
15.7%
Far West
17.3%
Rocky Mountain
2.8%
Rocky Mountain
3.0%
AVERAGE ANNUAL GROWTH RATE OF PERSONAL INCOME, 1969-97
STATES WITH FASTEST GROWTH
U.S. average
8.1%
STATES WITH SLOWEST GROWTH
U.S. average
8.1%
Nevada
II
Percent
US. Department of Commerce, Bureau of Economic Analysis
12
Percent
D-72 • Regional Data
SURVEY OF CURRENT BUSINESS
November 1998
SELECTED REGIONAL ESTIMATES
PER CAPITA PERSONAL INCOME.1997
NH
$27,806
VT
ND
$20,213
\
$23,018
MN
• $26,295 ,
f
*»
------
Wl I 'i
]
\$24,199"/ / Ml tr\
S
: > $24,998 J
•, 523,177 ^
V"T""ofr
---V
IL
IN \ $24,203
\$27,929 123,1831
^DgOjP IN ART]7^
MS
'$18,0871
$23,647
UNITED STATES $25,298
0
I
I
7
J
x
LJ States with highest levels
HI
$25,686
AL \
GA
$20,699 } $23,893
\ FL\
§24,795^
I States with lowest levels
] All other States
PERSONAL INCOME GROWTH: AVERAGE QUARTERLY PERCENT CHANGE, 1997:11-1998:11
NH 1.2
VT 1.2
N
\ ) ME X
0.8^/
MA 1.1
\
UNITED STATES 1.2%
States with largest percent change
States with smallest percent change
HI 0.5
All other States
U.S. Department of Commerce, Bureau of Economic Analysis
.
AL 0.9 \ GA 1.4 /
November 1998
SURVEY OF CURRENT BUSINESS
Appendixes • D-73
Appendix A
Additional Information About BEA'S NIPA Estimates
Statistical Conventions
Changes in current-dollar GDP measure changes in the
market value of goods and services produced in the
economy in a particular period. For many purposes,
it is necessary to decompose these changes into quantity and price components. To compute the quantity
indexes, changes in the quantities of individual goods
and services are weighted by their prices. (Quantity
changes for GDP are often referred to as changes in
"real GDP") For the price indexes, changes in the prices
for individual goods and services are weighted by
quantities produced. (In practice, the current-dollar
value and price indexes for most GDP components are
determined largely using data from Federal Government surveys, and the real values of these components
are calculated by deflation at the most detailed level
for which all the required data are available.)
The annual changes in quantities and prices are
calculated using a Fisher formula that incorporates
weights from 2 adjacent years. (Similar formulas
are used to calculate the quarterly indexes for the
most recent quarters, called the "tail" period, and
for the indexes for the other quarters, called the
"historical period") For example, the 1996-97 annual percent change in real GDP uses prices for 1996
and 1997 as weights, and the 1996-97 annual percent
change in price uses quantities for 1996 and 1997 as
weights. These annual changes are "chained" (multiplied) together to form time series of quantity and
price. Because the Fisher formula allows for the effects
of changes in relative prices and in the compostion
of output over time, lie resulting quantity or price
changes are not affected by the substitution bias that
is associated with changes in quantities and prices calculated using a fixed-weighted formula. The Fisher
formula also produces changes in quantites and prices
that are not affected by the choice of base periods. In
addition, because the changes in quantities and prices
calculated in this way are symmetric, the product of
a quantity index and the corresponding price index is
generally equal to the current-dollar index.
In addition, BEA prepares measures of real GDP
and its components in a dollar-denominated form,
designated "chained (1992) dollar estimates" These estimates are computed by multiplying the 1992 currentdollar value of GDP, or of a GDP component, by the
corresponding quantity index number. For example,
if a current-dollar GDP component equaled $100 in
1992 and if real output for this component increased
by 10 percent in 1993, then the "chained (1992) dollar"
value of this component in 1993 would be $110 ($100
X 1.10). Note that percentage changes in the chained
(1992) dollar estimates and the percentage changes calculated from the quantity indexes are identical, except
for small differences due to rounding.
Because of the formula used for calculating real GDP,
the chained (1992) dollar estimates for detailed GDP
components do not add to the chained-dollar value of
GDP or to any intermediate aggregates. A "residual"
line is shown as the difference between GDP and the
sum of the most detailed components shown in each
table. The residual generally is small close to the base
period but tends to become larger as one moves further from it. NIPA table 8.2 provides accurate measures
of the contributions of the major components to the
percentage change in real GDP for all periods.
BEA also publishes the "implicit price deflator
(IPD)," which is calculated as the ratio of currentdollar value to the corresponding chained-dollar value,
multiplied by 100; the values of the IPD and of the
corresponding "chain-type" price index are very close.
For quarters and months, the estimates are presented at annual rates, which show the value that would
be registered if the rate of activity measured for a
quarter or a month were maintained for a full year.
Annual rates are used so that time periods of different lengths—for example, quarters and years—may be
compared easily. These annual rates are determined
simply by multiplying the estimated rate of activity by
4 (for quarterly data) or 12 (for monthly data).
Percent changes in the estimates are also expressed
at annual rates. Calculating these changes requires a
variant of the compound interest formula:
r=
xlOO,
where r is the percent change at an annual rate;
Xt is the level of activity in the later period;
X0 is the level of activity in the earlier period;
m is the yearly periodicity of the data (for
example, i for annual data, 4 for quarterly,
or 12 for monthly); and
n is the number of periods between the
earlier and later periods (that is, t - 0).
Quarterly and monthly NIPA estimates are seasonally
adjusted, if necessary. Seasonal adjustment removes
from the time series the average impact of variations that normally occur at about the same time and
in about the same magnitude each year—for example, weather, holidays, and tax payment dates. After
seasonal adjustment, cyclical and other short-term
changes in the economy stand out more clearly.
D-74 • Appendixes
SURVEY OF CURRENT BUSINESS
November 1998
Reconciliation Tables
Table 1.—Reconciliation of Changes in BEA-Derived Compensation Per Hour with BLS Average Hourly Earnings
[Percent change from preceding period]
Seasonally adjusted at annual rates
1995
1997
1997
1996
IV
III
BEA-derived compensation per hour of all persons in the nonfarm business sector (less
housina)
2.3
Less: Contribution of supplements to wages and salaries per hour
-.7
Plus: Contribution of wages and salaries per hour of persons in housing and in nonprofit institutions
-.1
Less: Contribution of wages and salaries per hour of persons in government enterprises, unpaid
family workers and self-employed
0
Equals: BEA-derived wages and salaries per hour of all employees in the private nonfarm
sector
Less: Contribution of wages and salaries per hour of nonproduction workers in manufacturing
1998
I
II
3.7
3.9
5.0
4.6
4.0
4.4
-.6
-.5
-.8
-1
-.4
-.4
-.1
-.2
-.6
-.6
-.2
-.2
.1
.1
.2
.3
.1
.1
-.2
.3
2.9
4.4
3.9
3.5
5.2
4.5
4.4
4.6
.1
-.2
.2
.6
.5
.1
-.1
-.3
0
.5
-.1
1.6
3.3
3.5
-1.1
Less' Other differences ]
0
1.2
-.1
Equals: BLS average hourly earnings of production or nonsupervisory workers on private
nonfarm payrolls
2.8
3.4
3.9
4.0
4.6
3.9
4.6
Addendum:
BLS estimates of compensation per hour in the nonfarm business sector2
2.4
3.5
3.7
3.9
4.9
4.6
4.0
p Preliminary.
1. Includes BEA use of non-BLS data and differences in detailed weighting. Annual estimates
also include differences in BEA and BLS benchmark procedures; quarterly estimates also include
differences in seasonal adjustment procedures.
III*
-1.1
2. These estimates differ from the BEA-derived estimates (first line) because the BLS estimates
include compensation and hours of tenant-occupied housing.
BEA Bureau of Economic Analysis
BLS Bureau of Labor Statistics
Table 2.—Relation of Net Exports of Goods and Services and Net Receipts of Factor Income in the NIPA's to Balance on
Goods, Services, and Income in the BPA's
[Billions of dollars]
Seasonally adjusted at annual rates
Line
1996
1997
1997
I
1998
I
IV
III
II
II
Exports of goods, services, and income, BPA's
1
1,064.0
1,179.4
1,135.1
1,181.1
1,201.9
1,199.4
1,196.2
1,170.4
Less- Gold BPA's
Statistical differences1
Other items
2
3
4
6.9
0
1.1
5.7
0
.8
6.7
0
1.1
9.3
0
.6
3.4
0
.6
3.4
0
.9
5.3
4.8
.8
4.2
4.1
.7
Plus' Adjustment for grossing of parent/affiliate interest payments
Adjustment for U S territories and Puerto Rico
Services furnished without payment by financial intermediaries except life
insurance carriers and private noninsured pension plans
5
6
Equals: Exports of goods and services and receipts of factor income, NIPA's
8
1,109.3
1,230.9
1,183.3
1,229.4
1,256.0
1,254.9
1,243.6
1,220.2
Imports of goods, services, and income, BPA's
9
1,158.3
1,294.9
1,247.5
1,285.4
1,316.5
1,330.2
1,345.3
1,359.1
Less' Gold BPA's
Statistical differences l
Other items
10
11
12
7.7
0
0
6.6
0
0
8.7
0
0
3.0
0
0
3.8
0
0
6.7
1.8
0
5.5
2.7
0
Plus: Gold, NIPA's
Adjustment for grossing of parent/affiliate interest payments
Adjustment for U S territories and Puerto Rico
Imputed interest paid to rest of world
13
14
15
16
Equals: Imports of goods and services and payments of factor income,
NIPA's
17
1,188.1
1,332.3
1,279.1
1,317.3
1,359.4
1,373.3
1,382.2
1,398.2
-115.5
-112.4
-104.3
-114.6
-130.8
-149.1
-188.7
-5.5
-5.5
-3.0
-3.7
-4.6
-4.3
0
.6
0
.6
0
.9
3.0
.8
1.4
.7
12.3
11.6
8.8
9.6
9.6
8.7
-95.8
-87.9
-103.4
-118.4
-138.6
-178.0
7
3.4
34.4
15.5
-3.8
3.4
22.4
15.5
Balance on goods, services, and income, BPA's (1-5)
18
-94.3
Less: Gold (2-10+13)
Statistical differences (3-11) l
Other items (4-12)
19
20
21
-4.6
Plus: Adjustment for U S territories and Puerto Rico (6-15)
22
12.0
23
-78.8
0
1.1
3.9
37.0
17.1
-3.5
3.9
26.5
17.1
-4.4
0
.8
10.5
3.3
3.6
4.2
4.6
36.0
37.4
36.8
37.9
16.8
17.2
11.0
0
0
17.1
17.3
3.9
37.0
17.3
-0.5
-0.8
-3.4
^3.3
-3.2
3.3
3.6
4.2
4.6
3.9
23.7
16.8
25.8
17.2
0
1.1
28.0
17.1
28.3
17.3
27.4
17.3
4.2
37.2
17.6
-3.0
4.2
28.5
17.6
Equals: Net exports of goods and services and net receipts of factor income,
1. Consists of statistical revisions in the NIPA's that have not yet been incorporated into the
BPA's (1998:11) and statistical revisions in the BPA's that have not yet been incorporated in the
NIPA's (1998:1-1998:11).
BPA's Balance of payments accounts
NIPA's National income and product accounts
-101.4
Appendixes
SURVEY OF CURRENT BUSINESS
November 1998
Appendix B
Suggested Reading
Mid-Decade Strategic Plan
BEA has published the following articles in the SURVEY OF CURRENT BUSINESS on the development and
implementation of its strategic plan for improving
the accuracy, reliability, and relevance of the national,
regional, and international accounts.
"Mid-Decade Strategic Review of BEA'S Economic
Accounts: Maintaining and Improving Their
Performance" (February 1995)
"Mid-Decade Strategic Review of BEA'S Economic
Accounts: An Update" (April 1995)
"BEA'S Mid-Decade Strategic Plan: A Progress
Report" (June 1996)
Mid-Decade Strategic Review of BEA'S Economic
Accounts: Background Papers (1995) presents seven
background papers that evaluate the state of the U.S.
economic accounts and that identify the problems and
the prospects for improving the accounts.
Methodology
BEA has published a wealth of information about the
methodology used to prepare its national, regional,
and international estimates.
National
National income and product accounts (NIPA'S)
NIPA Methodology Papers: This series documents
the conceptual framework of the NIPA'S and the
methodology used to prepare the estimates.
An Introduction to National Economic Accounting
(NIPA Methodology Paper No. i, 1985) [Also
appeared in the March 1985 issue of the SURVEY]
Corporate Profits: Profits Before Tax, Profits Tax
Liability, and Dividends (NIPA Methodology Paper
No. 2,1985)
Foreign Transactions (NIPA Methodology Paper
No. 3,1987) [Revised version forthcoming]
GNP: An Overview of Source Data and Estimating
Methods (NIPA Methodology Paper No. 4, 1987)
[Largely superseded by "A Guide to the NIPA'S"
(March 1998 SURVEY)]
Government Transactions (NIPA Methodology
Paper No. 5,1988)
Personal Consumption Expenditures (NIPA Methodology Paper No. 6, 1990)
The methodologies described in these papers are
subject to periodic improvements that are typically
introduced as part of the annual and comprehensive revisions of the NIPA'S; these improvements are
described in the SURVEY articles that cover these
revisions.
"Annual Revision of the U.S. National Income and
Product Accounts": This series of SURVEY articles,
the latest of which was published in the August 1998
issue, describes the annual NIPA revisions and the
improvements in methodology.
"Completion of the Comprehensive Revision of the
National Income and Product Accounts, 1929-96"
(May 1997) is the last in a series of SURVEY articles
that describe the most recent comprehensive revision
of the NIPA'S.
"A Guide to the NIPA'S" (March 1998 SURVEY) provides the definitions of the major NIPA aggregates and
components; discusses the measures of real output and
prices; explains how production is classified and how
the NIPA'S are presented; describes the statistical conventions that are used; and lists the principal source
data and methods used to prepare the estimates of
gross domestic product (GDP),
Information on the sources and methods used to
prepare the national estimates of personal income,
which provide the basis for the State estimates of personal income, can be found in State Personal Income,
1929-93 (1995).
"Gross Domestic Product as a Measure of U.S. Production" (August 1991 SURVEY) briefly explains the
difference between GDP and gross national product.
"BEA'S Chain Indexes, Time Series, and Measures
of Long-Term Economic Growth" (May 1997) is the
most recent in a series of SURVEY articles that describe
the conceptual basis for the chain-type measures of
real output and prices used in the NIPA'S.
"Reliability and Accuracy of the Quarterly Estimates
of GDP" (October 1993 SURVEY) evaluates GDP estimates by examining the record of revisions in the
quarterly estimates.
Availability
Most of the items listed here are available on BEA'S
Web site at <www.bea.doc.gov>. In addition, see the
inside back cover of this issue for the availability of
some of the publications.
The Catalog of BEA Products is available on BEA'S Web
site; a printed copy can be obtained by writing to the
Public Information Office, BE-53, Bureau of Economic
Analysis, U.S. Department of Commerce, Washington,
DC 20230, or by calling 202-606-9900.
• D-75
D-76
• Appendixes
SURVEY OF CURRENT BUSINESS
Wealth and related estimates
"Improved Estimates of Fixed Reproducible Tangible
Wealth, 1929-95" (May 1997 SURVEY) describes the
most recent comprehensive revision of the estimates
of fixed reproducible tangible wealth.
Gross product by industry
"Improved Estimates of Gross Product by Industry,
1959-94" (August 1996 SURVEY) describes the most recent comprehensive revision of the estimates of gross
product by industry.
"Gross Product by Industry, 1947-96" (November 1997 SURVEY) and "Gross Product by Industry,
1995-97" (November 1998 SURVEY) present the most
recent revisions to the estimates of gross product by
industry and briefly describe changes in methodology.
Input-output accounts
"Benchmark Input-Output Accounts for the U.S.
Economy, 1992" (November 1997 SURVEY) describes
the preparation of the 1992 input-output accounts
and the concepts and methods underlying the U.S.
input-output accounts.
Satellite accounts
Satellite accounts that extend the analytical capacity of
the national accounts by focusing on a particular aspect of activity are presented in the following SURVEY
articles.
"Integrated Economic and Environmental Satellite
Accounts" and "Accounting for Mineral Resources:
Issues and BEA'S Initial Estimates" (April 1994)
"A Satellite Account for Research and Development" (November 1994)
"U.S. Transportation Satellite Accounts for 1992"
(April 1998)
"U.S. Travel and Tourism Satellite Accounts for
1992" (July 1998)
International
Balance of payments accounts (BPA'S)
The Balance of Payments of the United States: Concepts, Data Sources, and Estimating Procedures (1990)
describes the methodologies used in preparing the
estimates in the BPA'S and of the international investment position of the United States. These methodologies are subject to periodic improvements that are
typically introduced as part of the annual revisions of
the BPA'S.
"U.S. International Transactions, Revised Estimates": This series of SURVEY articles, the latest of
which was published in the July 1998 issue, describes
November 1998
the annual BPA revisions and the improvements in
methodology.
Direct investment
The coverage, concepts, definitions, and classifications
used in the benchmark surveys of U.S. direct investment abroad and of foreign direct investment in the
United States are presented in the publications of the
final results of the following benchmark surveys.
U.S. Direct Investment Abroad: 1994 Benchmark
Survey, Final Results (1998)
Foreign Direct Investment in the United States: 1992
Benchmark Survey, Final Results (1995)
The types of data on direct investment that are collected and published by BEA and the clarifications of
the differences between the data sets are presented in
the following SURVEY articles.
"A Guide to BEA Statistics on U.S. Multinational
Companies" (March 1995)
"A Guide to BEA Statistics on Foreign Direct
Investment in the United States" (February 1990)
Surveys of international services
U.S. International Transactions in Private Services: A
Guide to the Surveys Conducted by the Bureau of Economic Analysis (1998) provides information on the
11 surveys that BEA conducts on these transactions—
including classifications, definitions, release schedules,
and methods used to prepare the estimates—and
samples of the survey forms.
Regional
Personal income
State Personal Income, 1929-93 (1995) includes a description of the methodology used to prepare the
estimates of State personal income. [Also available on
the CD-ROM State Personal Income, 1929-97}
Local Area Personal Income, 1969-92 (1994) includes
a description of the methodology used to prepare the
estimates of local area personal income. [Also available on the CD-ROM Regional Economic Information
System, 1969-96}
Gross state product
"Comprehensive Revision of Gross State Product by
Industry, 1977-94" (June 1997 SURVEY) summarizes
the sources and methods for BEA'S estimates of gross
state product.
"Gross State Product by Industry, 1977-96" (June
1998 SURVEY) presents the most recent revision to the
estimates of gross state product by industry and briefly
describes changes in methodology. £2
BEA INFORMATION
The economic information prepared by the Bureau of Economic Analysis (BEA)
is available in news releases, in publications, on diskettes, on CD-ROM'S, and on the
Internet. For a description of these products in the free Catalog of Products, write to
the Public Information Office, BE-53, Bureau of Economic Analysis, U.S. Department
of Commerce, Washington, DC 20230, or call 202-606-9900. The catalog and other
information are also available on BEA'S Web site at <www.bea,doc.gov>*
The free publication U.S. International Transactions in Private Services: A Guide
to the Surveys Conducted by the Bureau of Economic Analysis provides information
about n surveys. For each survey, it details the frequency of the survey, the transactions covered, and the methods used to prepare the estimates that are derived from the
survey data; it includes a sample of each survey. To receive your copy, write to Sylvia
Bargas, BE-50, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, BC 20230, or call 202-606-9804.
In addition, the following publications are available from the Superintendent of
Documents of the Government Printing Office (GPO). To order, write to Superintendent of Documents, P.O. Box 371954, Pittsburgh, PA 15250-7954, call 202-512-1800
or fax 202-512-2250. Pay by check to the Superintendent of Documents or charge to a
GPO deposit account, to Visa, or to MasterCard.
National Income and Product Accounts of the United States, 1929-94.
(1998) This two-volume set presents the estimates of the national income and product accounts (NIPA'S) that reflect the most recent comprehensive revision and the 1997 annual revision. The text describes the
definitions and classifications that underlie the NIPA'S and the statistical
conventions used in the NIPA'S^ an appendix lists the principal source
data and methods that are used in preparing the estimates. $58.00, stock
no. 003-010-00272-7.
Benchmark Input-Output Accounts of the United States, 1992. (1998)
This publication presents the summary and detailed make and use tables
for industries and commodities and the total output multipliers for 1992
for the U.S. economy. It includes a discussion of the concepts and
classifications underlying the accounts, the methods used to prepare the
accounts, and the uses of the accounts. It also includes appendixes that
present the measures of output and of the commodity composition of
personal consumption expenditures by type and of purchases of producers' durable equipment by type in the national income and product
accounts. $40.00, stock no. 003-010-00275-1,
Regional Multipliers: A User Handbook for the Regional
Input-Output Modeling System (RIMS n), Third Edition. (1997) This
handbook describes the five types! of RIMS u multipliers that are available
for nearly 500 industries and for any county or for any group of counties.
It details the information that the users need in order to effectively use the
RIMS ii multipliers to analyze the economic and industrial impact of
public and private projects and programs on State and local areas. The
handbook also includes case studies that illustrate the uses of the RIMS n
multipliers and a description of the methodology that the Bureau of
Economic Analysis uses to estimate the multipliers, $6.00, stock no. 003010-00264-6.
Foreign Direct Investment in the United States: 1992 Benchmark Survey, Final Results, (1995) Presents detailed data on the financial structure and operations of U.S. affiliates of foreign direct investors, on the
foreign direct investment position in the United States, and on the balance-of-payments transactions between U.S. affiliates and their foreign
parent companies in 1992. Includes data for items, such as employment
covered by collective bargaining agreements and merchandise trade by
product and country of destination and origin, that are only collected in
comprehensive benchmark surveys. The data are classified by industry
of affiliate and by country of ultimate beneficial owner, and selected
data are classified by State. The text describes the coverage, the concepts
and definitions, and the classifications used in the survey. $20.00, stock
no. 003-010-00259-0.
Foreign Direct Investment in the United States: Operations of U.S.
Affiliates of Foreign Companies. (1998) Two publications: One presents the revised estimates for 1995, and the other, the preliminary
estimates for 1996 from BEA'S annual surveys of the financial structure
and operations of nonbank U.S. affiliates of foreign direct investors.
The estimates are presented by industry of the U.S. affiliate and by
country of the ultimate beneficial owner (UBO) and for selected estimates, by industry of UBO and by State. Revised 1995 Estimates, $9.50,
stock no. 003-010-00274-3; Preliminary 1996 Estimates, $9.50, stock
no. 003-010-00273-5.
Foreign Direct Investment in the United States: Establishment Data
for 1992. (1997) This publication, which presents the results of a project
by BEA and the Bureau of the Census, provides the most recently available
data on the number, employment, payroll, and shipments or sales of
foreign-owned U.S. establishments in more than 800 industries at the
Standard Industrial Classification four-digit level and by State and by
country of owner. Presents additional information—such as data on
value added, employee benefits, hourly wage rates of production workers, and expenditures for plant and equipment—for manufacturing
establishments. $28.00, stock no. 003-010-00265-4.
U.S. Direct Investment Abroad: 1994 Benchmark Survey, Final Results. (1998) This publication presents the data on the worldwide operations of U.S. multinational companies in 1994 from the most recent
comprehensive survey of U.S. direct investment abroad. It contains 243
tables that present data on the financial structure and operations of U.S.
parent companies and their foreign affiliates and data on the direct
investment position and balance of payments between the parents and
their affiliates. The data are presented by industry of the parent and by
industry and country of the affiliate. The text describes the coverage, the
definitions and concepts, and the classifications used in the survey.
$37.00, stock no. 003-010-00271-9.
U.S. Direct Investment Abroad: Operations of U*S. Parent Companies
and Their Foreign Affiliates, Preliminary 1995 Estimates. (1997) This
publication provides preliminary results for 1995 from BEA'S annual survey of the worldwide operations of U.S. multinational companies. It
contains information on the financial structure and operations of U.S.
parent companies and their foreign affiliates. Data are classified by
country and industry of affiliate and by industry of U.S. parent $9.00,
stock no. 003-010-00270-1.
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Schedule of Upcoming BEA News Releases
Subject
U.S. International Trade in Goods and Services, September 1998
Gross Domestic Product, 3rd quarter 1998 (preliminary) and Corporate Profits, 3rd quarter 1998
(preliminary).
Personal Income and Outlays, October 1998
Release
Date
*Nov. 18
Nov. 24
Nov. 25
U.S. International Transactions, 3rd quarter 1998
Dec. 9
U.S. International Trade in Goods and Services, October 1998
*Dec. 17
Gross Domestic Product, 3rd quarter 1998 (final) and Corporate Profits, 3rd quarter 1998 (revised) Dec. 23
Personal Income and Outlays, November 1998
Dec. 24
* Joint release by the Bureau of the Census and BEA.
For information, call (202) 606-9900, Bureau of Economic Analysis, U.S. Department of Commerce.
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