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NOVEMBER 2008
B E A ’s M O N T H L Y J O U R N A L
S u r v e y o f C u r r e n t B u s in e s s
In This Issue . . .
Operations of U.S. Multinational Companies in 2006
Research Spotlight: Regional Price Parities
a BEA
BUREAU OF ECONOMIC ANALYSIS
U.S. DEPARTMENT OF COMMERCE
ECONOMICS AND STATISTICS ADMINISTRATION
U.S. D e p a rtm e n t o f C o m m e rc e
C arlos M. G utierrez, Secretary
E c o n o m ic s a n d S ta tis tic s A d m in is tra tio n
C ynthia A. G lassm an, U nder Secretary fo r Econom ic Affairs
B u re au o f E c o n o m ic A n a ly s is
J. Steven Landefeld, D irector
R osem ary D. M arcuss, D e p u ty D irector
A na M. A izcorbe, C h ief E conom ist
B rian M. C allahan, C h ief Inform ation Officer
D ennis J. Fixler, C h ief S tatistician
B rent R. M ou lto n , Associate D irector fo r N a tio n a l Econom ic Accounts
Brian C. Moyer, A ssociate D irector fo r In du stry Accounts
Joel D. Platt, A ssociate D irector fo r Regional Economics
O bie G. W hichard, A ssociate D irector fo r In ternational Economics
B E A A d v is o ry C o m m itte e
The BEA Advisory Committee advises the Director of BEA on matters related to the development and improvement of BEA’s national,
regional, industry, and international economic accounts, especially in areas of new and rapidly growing economic activities arising from
innovative and advancing technologies, and it provides recommendations from the perspective of business economists, academicians,
researchers, and experts in government and international affairs.
Dale W. Jorgenson, Chair, Harvard University
Alan J. Auerbach, University o f California, Berkeley
Richard B. Berner, Morgan Stanley
Michael J. Boskin, Stanford University
Barry R Bosworth, The Brookings Institution
Susan M. Collins, University o f Michigan
Robert J. Gordon, Northwestern University
M aurine A. Haver, Haver Analytics, Inc.
Charles R. Hulten, University o f M aryland
Therese J. McGuire, Northwestern University
William D. Nordhaus, Yale University
Joel L. Prakken, Chairman, Macroeconomic Advisers, LLC
Andrew D. Reamer, The Brookings Institution
James Kim, Editor-in-Chief
M. Gretchen Gibson, Managing Editor
Kristina L. Maze, Production Manager
Wm. Ronnie Foster, Graphic Designer
Colby Johnson, Graphic Designer
Robert E. Wehausen, Production Editor
Danielle M. Wittenberg, Editor
Elizabeth M. Terroni, Intern
Joshua M. Thomas, Intern
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Survey of C urrent B usiness
N ovem ber 2008
1
V o lu m e 88 • N u m b e r 11
G D P a n d th e E c o n o m y : A d v a n c e E s tim a te s fo r th e T h ird Q u a rte r o f 2 0 0 8
Real G D P d ecreased 0.3 p e rc e n t after increasing 2.8 p e rc e n t in th e second q u arter. Prices p a id by
U.S. resid en ts increased 4.8 p e rc e n t after increasing 4.2 p ercen t, reflecting accelerating fo o d prices.
6
N e w ly A v a ila b le N IPA T a b le s
F ro m th e a n n u a l N IPA revision: statistics o n p erso n a l in co m e by ho u seh o ld s a n d n o n p ro fit in stitu tio n s
serv in g h o u seh o ld s a n d a c o m p a riso n o f BEA a n d IRS statistics o n n o n p ro fits.
8
U p d a te d S u m m a ry o f N IPA M e th o d o lo g ie s
T h e source d a ta a n d m e th o d s u sed to p re p a re c u rre n t-d o lla r a n d real estim ates o f G D P a n d
c u rre n t-d o lla r estim ates o f gross d o m estic in co m e have b e en u p d a te d as p a rt o f th e a n n u a l N IPA
revision.
26
U .S. M u ltin a tio n a l C o m p a n ie s : O p e ra tio n s in 2 0 0 6
T he value a d d e d o f U.S. m u ltin a tio n a l co m p an ies increased 8.4 percen t. T he value ad d e d o f U.S.
p a re n ts in creased 8.1 p ercen t, a n d th e value o f th e ir foreign affiliates increased 9.2 p ercent.
48
R e c o n c ilia tio n o f th e U n ite d S ta te s -C a n a d ia n C u rre n t A c c o u n t, 2 0 0 6 an d 2 0 0 7
Each year, th e b ilateral c u rre n t-a c c o u n t estim ates o f th e U n ite d States an d C an ad a are reconciled to
show h o w th e estim ates w o u ld ap p e a r if b o th c o u n trie s u sed th e sam e d efinitions, m e th o d o lo g ies,
a n d d a ta sources.
w w w .b e a .g o v
//'
64
N ovem ber 2 0 0 8
R e s e a rc h S p o tlig h t
R e g io n a l P rice P a rities: C o m p a rin g P rice L evel D iffe re n c e s A c ro s s
G e o g ra p h ic A re a s
A lo o k at BEA’s research in to reg ional price parities, w h ich show price level differences across
v ario u s reg io n s in th e U n ite d States. T hese p arities are u sed to a d ju st reg io n al p e rso n a l in co m e a n d
G D P m easu res fo r 2005 a n d 2006.
75
S c h e d u le o f B E A N e w s R e le a s e s in 2 0 0 9
D -1
B E A C u rre n t a n d H is to ric a l D ata
iii
D ire c to r’s M e s s a g e
iv
T a k in g A c c o u n t
B E A ’s W e b S ite a n d C o n ta c ts (in s id e b a c k c o v e r)
S c h e d u le o f U p c o m in g N e w s R e le a s e s (b a c k c o v e r)
L o o k in g A h e a d to D e c e m b e r. . .
Annual Industry Accounts. R evised statistics fo r 2005-2007.
N ovem ber 2008
D irector’s M essage_________________
...........
'
.......
'
'
............. — —
^ ^ —
^ — 1111 . ...,1 .........................
...MU
........
In th is issue, a Research S p o tlig h t discusses regional price parities,
ex p e rim e n ta l m easures th a t ca p tu re price level differences across
regions. W hile th e B ureau o f E co n o m ic A nalysis (BEA) c u rre n tly
has n o p lans to p ro d u ce such statistics officially, we are c o n tin u
ing research in a jo in t d a ta -sh a rin g p ro je c t w ith th e B ureau o f La
b o r Statistics. T he article d e m o n stra te s ho w regional price
p arities m ig h t be c o n stru c te d for m e tro p o lita n a n d n o n m e tro
p o lita n areas. It also applies these m easures to ad ju st 2005 an d
2006 p e rso n a l in co m e a n d gross d o m estic p ro d u c t (G D P ) sta tis
tics fo r reg ional price level differences.
Also in clu d e d in th is issue is o u r a n n u a l ta b u la r p re se n ta tio n
o f th e m e th o d o lo g ie s a n d source d a ta u sed to c o n stru c t th e n a
tio n a l G D P accounts. Separately, th e advance estim ates o f th ird q u a rte r G D P are p re sen te d in an easy -to -read fo rm at.
R egarding in te rn a tio n a l statistics, an article discusses o p e ra
tio n s o f U.S. m u ltin a tio n a l co m p an ies in 2006, lo o k in g at th ree
m easu res in d ep th : value ad d ed , e m p lo y m en t, a n d capital ex p en
d itu res. A separate article presen ts o u r a n n u a l reco n ciliatio n o f
U.S. a n d C a n a d ia n c u rre n t-a c c o u n t statistics.
I ’d like to m e n tio n th a t BEA held an advisory c o m m itte e
m eetin g in early N ovem ber, in w h ich w e received advice a n d
c o m m e n ts o n several issues, such as h o w th e recen t financial
m ark ets u pheaval affected th e econom y, h o w o u r G D P acco u n ts
m ig h t b e helpful for business cycle analysis, a n d ho w th e te rm s o f
tra d e affect v ario u s eco n o m ic m easures. We w elcom e m o re c o m
m en ts.
iv
N ovem ber 2 0 0 8
Taking Account...
A Look at Productivity and
the Terms of Trade
Since 1995, g ro w th in aggregate
la b o r p ro d u c tiv ity in th e U n ite d
States has accelerated m a rk e d ly
F ro m 1973 to 1995, o u tp u t p e r
w o rk er h o u r in th e n o n fa rm
bu sin ess secto r grew o n average
1.40 p e rc e n t p e r year, acco rd in g
to th e B u reau o f L ab o r Statistics.
F ro m 1995 to 2007, how ever,
o u tp u t p e r w o rk er h o u r aver
aged 2.55 p e rc e n t p e r year.
D eclin in g p rices o f in fo rm a
tio n tech n o lo g y p ro d u c ts in th e
late 1990s are o ften cited as a
m a jo r reaso n fo r th is p ro d u c tiv
ity sp eed u p . A recen t p a p e r by
M arsh all B. R e in sd o rf o f th e B u
re a u o f E co n o m ic A nalysis
(BEA), R o b ert C. F een stra o f th e
U n iversity o f C alifornia-D avis,
a n d M a tth e w J. S lau g h ter o f th e
T uck School o f B usiness a t D a r t
m o u th U n iversity explores a n
o th e r
p o te n tia l
reason:
in te rn a tio n a l tra d e , in p a rtic u
lar th e g lo b alizatio n o f th e in fo r
m a tio n tech n o lo g y sector.
T h e actu al d ire c t effects o f
changes in th e te rm s o f tra d e
(d efin ed as change in e x p o rt
p rices relative to change in im
p o r t prices) o n gross d o m estic
p ro d u c t (G D P ) a n d p ro d u c tiv ity
are negligible. Yet th e p a p e r
fo u n d th a t u n m easu red im
p ro v e m e n ts in th e te rm s o f tra d e
m ay be c o u n te d as g ro w th in
real G D P a n d p ro d u ctiv ity .
T h u s, if re d u c tio n s in im p o rt
prices are u n d e rsta te d , p ro d u c
tiv ity g ro w th ten d s to b e o v er
stated.
T he stu d y fo u n d th a t u n m e a
su re d te rm s-o f-tra d e gains can
a c c o u n t for close to 0.2 p e rc e n t
age p o in ts o f th e p o s t- 1995 in
crease in p ro d u c tiv ity g ro w th for
th e U.S. econom y. C o m p a rin g
th a t a m o u n t to th e increase in
m u ltifa c to r pro d u ctiv ity , th e
te rm s o f tra d e acco u n ts for
a b o u t 20 p erc en t o f th e speed u p
in p ro d u c tiv ity grow th.
BEA Meets with Regional
Data User Groups
BEA m e t w ith nearly 30 re p re
sentatives o f regional d a ta user
g ro u p s at a conference last
m o n th sp o n so red by th e M e tro
p o lita n Policy P ro ject at th e
B rookings In stitu tio n .
T h e R egional U ser R o u n d
tab le p ro v id ed an o p p o rtu n ity
fo r BEA to h ea r fro m cu sto m ers
a n d p ro v id e an u p d a te o n im
p ro v em en ts, accelerations, a n d
plans. BEA in te n d s to c o n tin u e
m e e tin g w ith u ser g ro u p s across
all p ro g ra m areas.
BEA representatives, in c lu d
ing D irecto r Steve L andefeld a n d
D e p u ty D ire cto r R o sem ary M arcuss, ex plained th e ratio n a le a n d
im p lica tio n s o f recen t cuts to
BEA budgets.
T he recently passed C o n so li
d a te d A p p ro p ria tio n s Act d id
n o t p ro v id e fo r full fu n d in g for
BEA’s base p ro g ra m s for fiscal
year 2008. In o rd e r to align base
p ro g ra m s w ith th e b u d g et, BEA
w ill red u ce som e regional statis
tical p ro g ram s.
W hile BEA does n o t see any
im p a c t o n its G D P -by-state or
state p erso n a l in co m e statistics,
o th e r p ro g ra m s w ill be affected,
in clu d in g local area p e rso n al in
com e,
G D P -b y -m etro p o litan
area statistics, a n d RIM S m u lti
pliers.
New FAQs Posted on BEA
Web Site
Several tim ely item s have b een
recently p o ste d o n th e “F re
q u e n tly A sked Q u e stio n s” fea
tu re o n th e BEA W eb site,
in clu d in g th e follow ing:
•W h e re do g o v e rn m e n t-sp o n
so red en terp rises, like F annie
M ae a n d F reddie M ac, a p p e a r
in th e G D P accounts?
• H o w d o federal financial
in te rv e n tio n s, such as th e
E m ergency E co n o m ic S tabili
zatio n Act o f 2008, affect th e
G D P accounts?
• W h a t are th e recen t changes
to th e U.S. in te rn a tio n a l ser
vices statistics?
• W h a t are th e sources o f recen t
g ro w th in U.S. ex p o rts o f
goods?
• R ecently th e re have b een d if
ferences in th e G D P a n d gross
d o m e stic pu rch ases indexes.
W h ich o n e sh o u ld y o u use?
Since th e FAQ feature w as
la u n c h e d in M arch 2006, it has
b eco m e a valuable to o l for BEA
c u sto m ers in n e ed o f q u ick a n
swers a b o u t BEA’s accounts.
It allows users to search for
answ ers by categ o ry a n d key
w ord. It’s also regularly u p d a te d
w ith tim ely new qu estio n s. In
ad d itio n , th e featu re allows cu s
to m ers to suggest q u estio n s for
BEA staff to answ er. T h e service
is available at w w w .bea.gov by
clicking o n FAQ.
N ovem ber 2 0 0 8
1
GDP and the Economy
Advance Estimates for the Third Quarter of 2008
T
H E E C O N O M Y c o n tra c te d in th e th ird q u a rte r o f
2008, acco rd in g to th e “adv an ce” estim ates o f th e
n a tio n a l in co m e a n d p ro d u c t acco u n ts (N IPA s).1 Real
gross d o m estic p ro d u c t (G D P) d ecreased 0.3 p erce n t
after increasin g 2.8 p e rc e n t in th e second q u a rte r
(c h a rt 1 a n d table l ) . 2
T he th ird -q u a rte r d o w n tu rn in real G D P p rim a rily
reflected a sh a rp d o w n tu rn in c o n su m e r sp en d in g , a
sm aller decrease in im p o rts, a d eceleratio n in exports,
a d o w n tu rn in n o n re sid e n tia l fixed in v estm en t, an d a
larger decrease in resid en tial in v e stm e n t (see page 2).
In co n trast, in v e n to ry in v estm en t tu rn e d u p, a n d fed
eral g o v e rn m e n t sp en d in g accelerated.3
• Prices o f g oods a n d services p u rc h a se d by U.S. resi
d en ts in creased 4.8 p e rc e n t after increasing 4.2 p e r
cen t (see page 3). F o o d p rices accelerated, a n d energy
prices decelerated in th e th ird q u arter. E xcluding
fo o d a n d energy, gross d o m estic p u rch ases prices
increased 3.1 p e rc e n t in th e th ird q u a rte r after
in creasin g 2.2 p e rc e n t in th e second.
• Real disp o sab le p e rso n a l in co m e (D P I) decreased 8.7
p e rc e n t in th e th ird q u a rte r after increasin g 11.9 p e r
cen t in th e seco n d q u arter, reflecting a d o w n tu rn in
c u rre n t-d o lla r D PI a n d an acceleratio n in th e p e r
son al c o n su m p tio n ex p e n d itu re s im p licit price defla
to r u sed to deflate D PI. C u rre n t-d o lla r D P I tu rn e d
d o w n sharply, reflecting a sh arp d e c e le ratio n in p e r
son al in co m e a n d a sh a rp u p tu r n in p e rso n a l c u rre n t
taxes (see page 4); b o th p rim a rily reflected th e sec
o n d -q u a rte r effects o f th e reb ate p a y m en ts to in d iv id
uals fro m th e E co n o m ic S tim u lu s Act o f 2008.4
• T h e p e rso n a l saving rate was 1.3 p e rc e n t in th e th ird
q u a rte r; in th e seco n d q u arter, it w as 2.7 percent.
1. Each GDP estimate for a quarter (advance, preliminary, and final)
incorporates increasingly comprehensive and improved source data. More
information can be found at www.bea.gov/bea/about/infoqual.htm and
www.bea.gov/bea/faq/national/gdp_accuracy.htm. Quarterly estimates are
expressed at seasonally adjusted annual rates, which assumes that a rate of
activity for a quarter is maintained for a year.
2. “Real” estimates are in chained (2000) dollars, and price indexes are
chain-type measures.
3. In this article, “consumer spending” refers to the NIPA series “personal
consumption expenditures,” “inventory investment” refers to “change in
private inventories,” and “government spending” refers to “government
consumption expenditures and gross investment.”
4. For more information about these rebate payments, see FAQ 490 on
BEA’s Web site.
C hristopher Swann prepared this article.
Chart 1. GDP, Prices, Disposable Personal Income (DPI)
Real GDP: Percent change from the preceding quarter
2004
2005
2006
2007
2008
C ontributions to the percent change in real GDP in 2008:lll
C onsum er spending
______ Nonresidential fixed investment
R esidential fixed investm ent
Inventory investment
Exports
■
Im ports
G overnm ent spending
-1
0
1
Percentage points at an annual rate
-3
Prices: Percent change from the preceding quarter
2004
2005
2006
2007
2008
Real DPI: Percent change from the preceding quarter
2004
2005
U.S. Bureauof EconomicAnalysis
2006
2007
2008
G D P a n d th e E c o n o m y
2
N ovem ber 2 0 0 8
R eal G D P O v e rv ie w
Table 1. Real Gross Domestic Product and Components
[Seasonally adjusted at annual rates]
Share of
currentdollar
GDP
(percent)
Change from
preceding period
(percent)
2008
2007
III
IV
100.0
70.6
7.1
21.1
42.4
Gross private domestic
investment...................................
Fixed investment.....................
13.9 -11.9
14.3 -6.2
Nonresidential.....................
Structures........................
Equipment and software....
Residential..........................
-0.4
Exports..................................
Goods.................................
Services.............................
13.7
9.6
4.1
Federal..................................
National defense..................
Nondefense.........................
State and local........................
2007
2008
I
II
III
IV
I
II
III
0.9
2.8
-0.3
-0.2
0.9
2.8
-0.3
1.0
0.9
1.2 -3.1
0.4 -4.3 -2.8 -14.1
0.3 -0.4
3.9 -6.4
1.4 2.4 0.7 0.6
-5.8 -11.5
-5.6 -1.7
0.67 0.61 0.87 -2.25
0.03 -0.33 -0.21 -1.10
0.05 -0.08 0.80 -1.41
0.59 1.02 0.28 0.26
-1.9 -1.93 -0.89 -1.74 -0.27
-5.6 -0.97 -0.86 -0.25 -0.83
11.0 3.4 2.4 2.5 -1.0 0.36 0.26 0.27 -0.11
4.0 8.5
8.6 18.5 7.9 0.29 0.30 0.64 0.30
7.0
1.0 -0.6 -5.0 -5.5 0.07 -0.04 -0.37 -0.40
3.3 -27.0 -25.1 -13.3 -19.1 -1.33 -1.12 -0.52 -0.72
Change in private inventories....
Net exports of goods and
services.....................................
Imports..................................
Goods.................................
Services.............................
Government consumption
expenditures and gross
investment...................................
2008
-0.2
Gross domestic product1....
Personal consumption
expenditures................................
Durable goods.........................
Nondurable goods...................
Services.................................
Contribution to percent
change in real GDP
(percentage points)
-0.96 -0.02 -1.50
-4.9
4.4
5.1
2.7
18.6 -2.3
15.7 -2.6
3.0 -0.9
20.4
12.3
16.3
3.8
5.9
7.5
2.3
-0.8 -7.3
-2.0 -7.1
5.5 -8.0
-1.9
-2.8
3.5
5.1
4.5
6.4
1.9
3.9
5.8
7.6 -0.5
5.3 -0.9
7.3
2.3 0.4 2.9
12.8
1.6 -0.3
0.8
6.6
7.3
5.0
2.5
0.56-
0.94
0.77
2.93
1.13
0.53
0.43
0.10
0.63
0.39
0.24
1.54
1.39
0.15
0.78
0.68
0.09
0.40 0.14
0.38 0.29
0.02 -0.15
5.8 0.16 0.38
13.8 -0.04 0.41
18.1 -0.04 0.34
4.8 0.01 0.06
1.4 0.19 -0.03
1.39 0.35,
1.14 0.45
0.25 -0.10
0.78
0.47
0.36
0.11
0.31
1.15
0.97
0.86
0.11
0.18
1. The estimates of GDP under the contribution columns are also percent changes.
Note. Percent changes are from NIPA table 1.1.1, contributions are from NIPA table 1.1.2, and shares
are from NIPA table 1.1.10.
[Seasonally adjusted at annual rates]
Gross domestic product1 ..............
Final sales of domestic product
Change in private inventories....
Goods.....................................
Services..................................
Structures.................................
Addenda:
Motor vehicle output.....................
GDP excluding motor vehicle output
Final sales of computers................
GDP excluding final sales of
computers................................
Change from
preceding period
(percent)
2008
2007
III
IV
100.0 -0.2
0.9
100.4 0.8 0.9
-0.4
30.0 0.0 0.9
1.3 2.7
60.5
9.4 -9.3 -10.1
II
2007
III
IV
-0.2
0.79
-0.96
4.9 -3.7 0.01
1.7 2.0 0.79
3.3 -3.5 -0.97
Exports slowed, mainly reflecting a deceleration in
goods exports. “O ther” goods exports turned down,
and both industrial supplies and materials and nonau
tomotive capital goods decelerated. Exports of services
slowed.
Im ports decreased less than in the second quarter,
mainly reflecting a much smaller third-quarter de
crease in petroleum and petroleum products. Im ports
of services turned up.
II
III
Real final sales of domestic product, real GDP less in
ventory investment, decreased 0.8 percent, the largest
decrease since the first quarter of 1991. In the second
quarter, final sales increased 4.4 percent.
2.3 -25.7 -14.2 -33.8
97.7 0.7
1.3
4.0
0.6 23.7 8.2 28.4
4.1 -0.86 -0.41 -1.01 0.09
-0.3 0.69 1.28 3.84 -0.34
10.2 0.14 0.05 0.17 0.06
99.4 -0.3
-0.3 -0.31
M otor vehicle output turned up, increasing 4.1 per
cent after decreasing 33.8 percent. It added 0.09 per
centage point to the change in real GDP after
subtracting 1.01 percentage points.
2.7
-0.3
-0.8
2008
I
0.82 2.66 -0.31
1. The estimates of GDP under the contribution columns are also percent changes.
Note. Percent changes are from NIPA table 1.2.1, contributions are from NIPA table 1.2.2, and shares
are calculated from NIPA table 1.2.5.
Inventory investment turned up, adding 0.56 percent
age point to the change in real GDP after subtracting
1.50 percentage points.
0.9
2.8 -0.3
0.89 4.32 -0.81
-0.02 -1.50 0.56
0.29 1.49 -1.14
1.62 1.02 1.22
-1.03 0.32 -0.33
0.8
2.8
4.4
Residential investment decreased more than in the
second quarter, subtracting 0.72 percentage point
from the change in real GDP after subtracting 0.52
percentage point.
Contribution to percent
change in real GDP
(percentage points)
2008
I
Nonresidential fixed investment turned down, prim a
rily reflecting a deceleration in structures.
Government 'spending picked up, mainly reflecting an
acceleration in federal defense spending. State and lo
cal government spending slowed.
Table 2. Real Gross Domestic Product (GDP) by Type of Product
Share of
currentdollar
GDP
(percent)
Consumer spending turned down sharply in the third
quarter, reducing the change in real GDP by 2.25 per
centage points. The dow nturn was the largest since the
second quarter of 1980. A dow nturn in nondurable
goods reflected downturns in food, clothing and
shoes, and “other” nondurable goods. A larger de
crease in durable goods reflected a dow nturn in furni
ture and household equipm ent and a larger decrease
in m otor vehicles and parts. Spending for services
grew about the same rate as in the second quarter.
Final sales of computers slowed, increasing 10.2 per
cent after increasing 28.4 percent.
Novem ber 2008
Su r v e y of C u r r e n t B usiness
3
P rice s
Table 3. Prices for Gross Domestic Purchases
The price index for gross domestic purchases in
creased 4.8 percent in the third quarter after increas
ing 4.2 percent in the second quarter. Food prices
accelerated and energy prices decelerated. Excluding
food and energy, gross domestic purchases prices in
creased 3.1 percent after increasing 2.2 percent.
[Percent change at annual rates; based on seasonally adjusted index numbers (2000=100)]
Contribution to percent
change in gross
domestic purchases prices
(percentage points)
Change from
preceding period
(percent)
2007
2008
2007
Gross domestic purchases1..............
3.5
4.8
Personal consumption expenditures....
Durable goods...................................
Nondurable goods..............................
Services...........................................
3.6
-0.1
6.7
2.8
5.4
-0.6
10.3
4.0
Gross private domestic investment......
Fixed investment................................
Nonresidential................................
Structures..................................
Equipment and software...............
Residential.....................................
Change in private inventories...............
Government consumption expenditures
and gross investment.......................
Federal.............................................
National defense.............................
Nondefense...................................
State and local..................................
-0.5
-0.2
0.6
2.7
-0.4
-2.6
2.3
2.9
4.2
7.2
2.5
-1.2
Addenda;
Gross domestic purchases:
Food................................................
Energy goods and services..................
Excluding food and energy..................
Personal consumption expenditures (PCE):
Food.................................................
Energy goods and services..................
Excluding food and energy...................
“Market-based” PCE..........................
Excluding food and energy...............
Gross domestic product..........................
4.0
2008
Consumer prices accelerated, mainly reflecting an ac
celeration in the prices of nondurable goods. Prices
paid for gasoline, fuel oil, and other energy goods ac
celerated, prices paid for clothing and shoes turned
up, and food prices picked up.
3.5
Prices of nonresidential fixed investment accelerated,
reflecting pickups in prices paid for both structures
and equipm ent and software.
Prices paid for residential fixed investment decreased
less than in the second quarter.
1.32
0.36
0.29
0.06
0.96
4.3
35.1
2.4
4.7
24.2
2.2
6.1
35.5
2.2
8.4
25.1
3.1
3.8
32.2
2.5
4.4
2.2
2.8
4.9
19.0
2.3
3.7
2.1
2.6
6.5
27.4
2.2
4.3
1.8
1.1
8.5
31.6
2.9
5.6
2.6
4.2
0.41
1.58
2.03
Prices paid by government slowed, reflecting decelera
tions in prices paid by state and local government and
by the federal government (mainly defense).
0.79
1.35
2.63
1. The estimates under the contribution columns are also percent changes.
Note. Most percent changes are from NIPA table 1.6.7; percent changes for PCE for food and energy
goods and services and for PCE excluding food and energy are calculated from index numbers in NIPA
table 2.3.4. Contributions are from NIPA table 1.6.8.
Consumer prices excluding food and energy, a m ea
sure of the “core” rate of inflation, picked up, increas
ing 2.9 percent after increasing 2.2 percent.
The GDP price index increased 4.2 percent in the third
quarter, 0.6 percentage point less than the increase in
the gross domestic purchases price index, reflecting a
larger increase in im port prices than in export prices.
(For more inform ation about GDP prices and gross
domestic purchase prices, see FAQ 499 on BEA’s Web
site.)
Note on Prices
BEA’s gross domestic purchases price index is the most
comprehensive index o f prices paid by U.S. residents for
all goods and services. It is derived from the prices of per
sonal consum ption expenditures (PCE), private invest
ment, and government consum ption and investment.
BEA also produces price indexes for all components of
GDP. The PCE price index is a measure o f the total cost of
consumer goods and services, including durable goods,
nondurable goods, and services. PCE prices for food,
energy goods and services, and for all items except food
and energy are also estimated and reported. Because
prices for food and energy can be volatile, the price m ea
sure that excludes food and energy is often used as a m ea
sure of underlying, or “core,” inflation.
BEA also prepares a supplemental PCE price index,
the “market-based” PCE price index, which is based on
market transactions for which there are corresponding
price measures. This index excludes the prices of many
im puted expenditures, such as services furnished w ithout
charge by financial intermediaries, that are included in
PCE and the PCE price index. BEA also prepares a m ar
ket-based price measure that excludes food and energy.
For more inform ation about these measures, see FAQ 83
“W hat is the Market-Based PCE Price Index?” on BEA’s
Web site.
See also “Comparing the Consumer Price Index and
the Personal Consum ption Expenditures Price Index” in
the November 2007 S u rv e y o f C u r r e n t B usiness.
4
G D P a n d th e E c o n o m y
N ovem ber 2008
P e rso n al In c o m e
Table 4. Personal Income and Its Disposition
[Billions of dollars; quarterly estimates are seasonally adjusted at annual rates]
Level
Personal incom e.................................................................
Change from preceding period
2008
2007
III
IV
2008
I
II
12,219.9
8,135.6
6,623.2
5,485.1
1,223.7
749.2
4,261.4
1,051.3
3,210.1
1,138.2
1,512.4
1,080.0
31.2
1,048.8
141.7
101.7
87.8
76.4
13.9
6.8
62.7
13.0
49.5
11.3
13.9
10.0
-0.3
10.3
Rental income of persons with CCAdj.....................
64.3
-3.2
Personal income receipts on assets........................
Personal interest income....................................
Personal dividend income..................................
Personal current transfer receipts...........................
Less: Contributions for government social insurance
Less: Personal current taxes......................................
Equals: Disposable personal income..........................
Less: Personal outlays..............................................
Equals: Personal saving...........................................
2,070.6
1,232.3
838.3
1,871.6
1,002.2
1,487.5
10,732.4
10,592.7
139.7
25.3
6.5
18.8
17.2
9.3
18.9
122.7
127.2
-4.4
8.1
7.4
0.0
0.0
7.8
6.2
-0.4
0.0
2.7
0.0
-2.9
0.0
-8.9
0.0
Compensation of employees,
....................
received
Wage and salary disbursements.........................
Private industries...........................................
Goods-producing industries..........................
Manufacturing........................................
Services-producing industries......................
Trade, transportation, and utilities..............
Other services-producing industries..........
Government..................................................
Supplements to wages and salaries....................
Proprietors’ income with IVA and CCAdj...................
Farm................................................................
Nonfarm..........................................................
Addenda: Special factors in personal income
In government wages and salaries:
Federal pay raise...............................................
Reservists’ pay..................................................
In private wages and salaries:
Strikes.............................................................
In supplements to wages and salaries:
Employer contributions for social insurance..........
In nonfarm proprietors’ income:
Disasters.........................................................
In rental income of persons:
Disasters.........................................................
In personal current transfer receipts:
Social security retroactive payments....................
Cost-of-living adjustments under federal transfer
programs......................................................
Emergency unemployment compensation............
Disasters..........................................................
Economic Stimulus Act of 2008 rebate payments....
In contributions for government social insurance:
Increase in taxable wage base............................
Changes in premium for supplementary medical
insurance......................................................
In personal current taxes:
Federal tax law changes....................................
Refunds, settlements, and other.........................
Economic Stimulus Act of 2008 rebate payments....
Note. Dollar levels are from NIPA tables 2.1 and 2.2B.
IVA Inventory valuation adjustment
III
88.4
68.7
52.5
34.9
-0.5
-1.8
35.2
2.1
33.3
17.6
16.2
-2.1
-5.5
3.4
228.4
62.1
50.6
37.0
-1.4
0.1
38.5
-1.1
39.5
13.7
11.4
5.2
-3.6
8.9
31.0
63.8
54.6
39.8
7.4
0.7
32.4
2.0
30.4
14.8
9.3
3.1
-6.8
9.8-
0.5
19.5
5.7
-2.1
-1.8
18.3.
-18.1 -15.9
23.6'
14.1
16.0
-5.3
40.3 148.2 -54.7
5.2'
16.9
4.8
14.5 -180.9 133.4
74.0 409.3 -102.4
95.7 133.3
54.5
-21.8 276.0 -156.9
0.3
0.6
0.0
0.6
0.0
0.0
-0.4
2.7
0.0
0.0
0.0
0.0
-2.9
0.0
0.0
0.0
-8.9
2.3
-2.3
0.0
0.0
15.5
13.7
9.0
4.4
0,0
0.0
0.0
0.0
15.5
0.0
0.0
0.0
5.7
0.0
5.7
0.0
0.0
2.5
0.0
0.0
-4.1
0.0
6.7
0.0
0.0 -199.3
0.0
0.0
142.3
2.5
0.0
-4.1
6.7
-57.0
0.0
0.0
0.0
0.0
0.0
13.7
0.0
0.0
9.0
112.3 -107.8
Personal income, which is only measured in current
dollars, increased $31.0 billion in the third quarter af
ter increasing $228.4 billion in the second quarter. The
sharp deceleration primarily reflected a dow nturn in
personal current transfer receipts and a deceleration
in rental income of persons. In contrast, personal in
terest income turned up.
Wage and salary disbursements increased $54.6 billion
after increasing $50.6 billion, primarily reflecting an
upturn in wages and salaries of goods-producing in
dustries.
Nonfarm proprietors’ income increased $9.8 billion
after increasing $8.9 billion. The third-quarter esti
mate reflected damages to uninsured business prop
erty as a result of Hurricane Ike (see the addenda to
table 4).
Rental income of persons decelerated, increasing $5.7
billion after increasing $19.5 billion. Much of the de
celeration reflected damages to uninsured residential
property as a result of Hurricane Ike (see the addenda
to table 4).
Personal income receipts on assets turned up, increas
ing $18.3 billion after decreasing $1.8 billion. The u p
turn reflected an upturn in personal interest income.
Personal current transfer receipts turned down, de
creasing $54.7 billion, after increasing $148.2 billion.
The dow nturn primarily reflected the rebates to indi
viduals made in the second quarter. However, the
third-quarter receipts were boosted by payments to
individuals for the loss of personal property and em er
gency unem ploym ent compensation (see the addenda
to table 4).
Personal current taxes turned up sharply, following
the large decrease in the second quarter that primarily
reflected the second-quarter rebate payments that
were treated as an offset to taxes.
CCAdj Capital consumption adjustment
Chart 2. Personal Saving Rate
Seasonally adjusted annual rates
The Effects of Natural Disasters on Personal Income
Natural disasters, like hurricanes, affect personal and business
income and trigger payments of insurance benefits. BEA esti
mates o f the affected net income flows are included in its esti
mates of proprietors’ income, rental income of persons,
corporate profits, and business current transfer payments. For
estimates of damages and insurance settlements from H urri
cane Ike, see FAQ 57 on BEA’s Web site.
U.S. Bureauof EconomicAnalysis
Novem ber 2008
5
Su r ve y of C ur r e n t B usiness
S o u rc e D ata fo r th e A d v a n c e E s tim a te s
Table 5. Monthly Advance Estimates of Key NIPA Components Based on Partial Data, 2008:111
[Billions of dollars, seasonally adjusted at annual rates]
2008
Private fixed investment:
Nonresidential structures:
Value of new nonresidential construction put in place.....................................................
Equipment and software:
Manufacturers’ shipments of complete aircraft................................................................
Residential structures:
Value of new residential construction put in place:
Single family.................................................................................................................
Multifamily.....................................................................................................................
Change in private inventories:
Change in inventories for nondurable manufacturing.........................................................
Change in inventories for merchant wholesale and retail industries other than motor
vehicles and equipment...................................................................................................
Net exports:2
Exports of goods:
U.S. exports of goods, international-transactions-accounts basis..................................
Excluding gold..............................................................................................................
Imports of goods:
U.S. imports of goods, international-transactions-accounts basis..................................
Excluding gold..............................................................................................................
Net exports of goods...........................................................................................................
Excluding gold.................................................................................................................
State and local government structures:
Value of new construction put in place................................................................................
1. Assumption.
2. Nonmonetary gold is included in balance-of-payments exports and im-
April
May
August
Sept.1
400.2
412.8
424.0
419.3
416.0
415.6
41.6
45.9
41.9
41.9
47.9
14.0
203.6
44.3
198.2
45.8
191.4
45.7
184.7
46.6
176.9
44.6
168.4
42.4
-24.0
20.1
49.2
4.6
10.3
-42.0
80.0
39.8
54.6
91.3
31.7
-8.2
1,332.0 1,395.1 1,450.0
1,312.7 1,381.8 1,427.8
1,411.7
1,400.4
1,331.7
1,309.5
1,320.7
1,296.1
June
July
2,196.1 2,197.3 2,250.3 2,339.4 2,262.5 2,167.9
2,177.3 2,187.7 2,240.8 2,325.9 2,255.6 2,151.9
-875.4 -865.3 -855.2 -889.4 -850.8 -836.2
-881.2 -875.0 -859.0 -898.1 -855.1 -842.5
278.9
281.5
283.3
286.2
288.5
287.3
ports, but it is not used directly in estimating exports and imports in the
national income and product accounts.
Summary of the Source Data for the Advance Estimates of GDP
The advance estimates of m any com ponents of GDP are
based on 3 m onths of source data, but the estimates of
some com ponents are based on only 2 m onths of data. For
the following items, the num ber of m onths for which data
are available is shown in parentheses.
Personal consumption expenditures: Sales o f retail stores
(3), unit auto and truck sales (3), and consumers’ shares
of auto and truck sales (2);
Nonresidential fixed investment: Unit auto and truck
sales (3), construction spending (value put in place) (2),
m anufacturers’ shipments of machinery and equipment
other than aircraft (3), shipments of civilian aircraft (2),
and exports and im ports of m achinery and equipment
(2 );
Residential investment: Construction spending (value
put in place) (2), single-family housing starts (3), sales of
new homes (3), and sales of existing houses (3);
Change in private inventories: Trade and nondurablegoods m anufacturing inventories (2), durable-goods
m anufacturing inventories (3), and unit auto and truck
inventories (3);
N et exports o f goods and services: Exports and im ports of
goods and services (2);
Government consumption expenditures and gross invest
ment: Federal outlays (3), state and local government con
struction spending (value put in place) (2), and state and
local government employment (3);
Compensation: Employment, average hourly earnings,
and average weekly hours (3);
GDP prices: Consumer price indexes (3), producer price
indexes (3), and values and quantities of petroleum
im ports (2).
E f f e c t s o f H u r r i c a n e Ik e o n e c o n o m i c a c t i v i t y
During the third quarter, Hurricane Ike struck the Gulf
Coast region, especially impacting coastal Texas and Loui
siana. Because the effects of storms are not separately
identified in BEA’s source data, it is not possible to esti
mate their overall effect on GDP, but their impact is
included in the GDP estimates. In particular, disruptions
to oil and gas extraction and to petroleum and petro
chemical production are reflected in BEA’s estimates for
inventory change in the nondurable m anufacturing and
wholesale trade industries. For more inform ation, see also
FAQ 55 “How is GDP Affected by a Disaster?” on BEA’s
Web site.
6
N ovem ber 2 0 0 8
N e w ly A v a ila b le N I P A T a b le s
As p a rt o f the 2008 annual revision o f the
national incom e and p ro d u ct accounts (NIPAs),
this rep o rt presents NIPA tables 7.20 and 2.9.
The A ugust 2008 S u r v e y includes m ost o f the
revised NIPA tables. It also includes an article th at
sum m arizes the results o f the annual revision and
describes changes in the data and m ethods used to
prepare the estim ates.
The Septem ber issue presented newly available
NIPA tables 3.15.1-3.15.6, 3.16, 3.17, 5.9, and
7.15. Tables 3.18B, 3.19-3.21, 8.3, and 8.4 appeared
in the O ctober issue. The presentation o f tables 7.20
and 2.9 in this issue com pletes the publication o f
the set o f NIPA tables from the 2008 annual revi
sion.
The NIPA tables published in the August, Sep
tem ber, and O ctober issues and in this issue are
available on BEA’s Web site at www.bea.gov.
Table 7.20. Comparison of Income and Outlays of Nonprofit Institutions Serving Households
With Revenue and Expenses as Published by the Internal Revenue Service
[Billions of dollars]
Line
Revenue of nonprofit institutions, IRS 1..............................................................................................................................
Less: Nonprofit revenue recorded by the IRS not included in nonprofit institution income and receipts from sales............................
Capital gains or losses...............................................................................................................................................
Adjustment for different accounting periods...................................................................................................................
Nonresident institutions......................
Government hospitals and schools 2....
Other out-of-scope activity 3..............................................................................................................................................
Transfer receipts from nonprofit institutions 4...
Plus: Nonprofit institution income not recorded by the IRS...............................................................................................................
Religious organizations 5..............................
Other organizations.....................................
Other accounting differences 6..........................................................................................................................................
Equals: IRS-derived nonprofit institution income and receipts from sales.................................................................................
Nonprofit institution income, NIPAs 7.......................................................................................................................................
Plus: Receipts from sales of goods and services by nonprofit institutions, NIPAs 8.............................................................................
Equals: BEA-derived nonprofit institution income and receipts from sales.................................................................................
Gap, IRS less BEA nonprofit institution income and receipts from sales.............................................................................
Expenses of nonprofit institutions, IRS 1..................................................................................................................................
Less: Nonprofit institution expenses recorded by the IRS not included in nonprofit institution gross consumption expenditures and current
transfer payments...................................................................................................................................................................
Adjustment for different accounting periods.........................................................................................................................
Nonresident institutions....................................................................................................................................................
Government hospitals and schools 2..................................................................................................................................
Other out-of-scope activity 3..............................................................................................................................................
Transfer payments to nonprofit institutions 4........................................................................................................................
Capital consumption adjustment9........
Plus: Nonprofit institution gross consumption expenditures and current transfer payments not recorded by the IRS................................
Religious organizations 5..................................................................................................................................................
Other organizations.........................................................................................................................................................
Adjustment for other accounting differences 10.....................................................................................................................
Equals: IRS-derived nonprofit institution gross consumption expenditures and current transfer payments................................
Nonprofit institution gross consumption expenditures, NIPAs 11...............................................................................................
Plus: Nonprofit institution current transfer payments, NIPAs 12.........................................................................................................
Equals: BEA-derived nonprofit institution gross consumption expenditures and current transfer payments...............................
Gap, IRS less BEA nonprofit institution gross consumption expenditures and current transfer payments...........................
1. For 1996, includes an adjustment to account for some classes of tax-exempt institutions not included in
the IRS statistics.
2. Primarily reflects adjustment for differences between IRS and BEA in sector definitions and in treatment
of scholarships and fellowships.
3. Includes activities of nonprofit institutions serving business, unrelated sales, secondary sales, and sales
to business, government, and the rest of the world.
4. Includes grants and allocations made by nonprofit institutions that indirectly support households through
the support of other nonprofit institutions, plus their payments to affiliates.
5. Reflects partial coverage in the IRS statistics.
6. Consists of imputed interest received for depositor and insurance services, net insurance settlements,
and capital consumption adjustment for rental income.
2004
2005
1,495.6
521.6
61.9
16.1
11.4
125.7
242.5
64.0
41.9
41.8
2.1
-2.0
1,015.9
272.5
619.7
892.3
123.6
1,362.8
1,614.9
562.7
83.5
23.0
9.4
130.3
248.7
67.8
44.3
44.1
2.2
-2.0
1,096.5
296.2
662.2
958.4
138.2
1,455.3
444.8
11.5
10.0
131.9
236.0
64.0
-8.6
33.7
40.9
2.0
-9.1
951.8
799.4
70.8
870.2
81.6
480.5
21.4
8.3
136.1
253.6
67.8
-6.7
36.1
43.3
2.0
-9.1
1,011.0
844.1
71.6
915.7
95.2
2006
2007
73.0
307.7
700.0
1,007.8
314.0
736.4
1,050.3
73.0
900.7
74.9
975.6
952.0
80.2
1,032.2
7. Estimates of income and outlays of nonprofit institutions serving households are provided in table 2.9.
8. Equals table 2.9, line 64.
9. IRS-reported capital consumption allowance less BEA-estimated consumption of fixed capital for struc
tures and for equipment and software of nonprofit institutions serving households.
10. Consists primarily of services furnished without payment by financial intermediaries except life insur
ance carriers for depositor and insurance services, less expenditures for computer software investment.
11. Equals table 2.9, line 58.
12. Equals table 2.9, line 70.
IRS Internal Revenue Service
NIPAs National income and product accounts
N ovem ber 2 0 0 8
S ur v e y of C u r r e n t B usiness
7
Table 2.9. Personal Income and Its Disposition by Households and by Nonprofit Institutions Serving Households
[Billions of dollars]
Line
Personal income......................................................................................................................................
Compensation of employees, received.......................................................................................................
Proprietors' income with inventory valuation and capital consumption adjustments...............................................
Rental income of persons with capital consumption adjustment........................................................................
Personal income receipts on assets.........................
Personal interest income...................................
Personal dividend income..................................
Personal current transfer receipts...........................
Government social benefits to persons.................
Other current transfer receipts, from business (net)...
Less: Contributions for government social insurance
Less: Personal current taxes....................................................................................................................
Equals: Disposable personal income..........................................................................................................
Less: Personal outlays............................................................................................................................
Personal consumption expenditures....................................................................................................
Personal interest payments 1 .,,,
Personal current transfer payments
To government.....................
To the rest of the world (net)
Equals: Personal saving...........................................................................................................................
Personal saving as a percentage of disposable personal income............................................................
Household income..................................................................................................................................
Compensation of employees, received.......................................................................................................
Proprietors’ income with inventory valuation and capital consumption adjustments...............................................
Rental income of households with capital consumption adjustment.............
Household income receipts on assets........................................................................................................
Household interest income
Household dividend income....
Household current transfer receipts...........................................................................................................
Government social benefits...................................................................................................................
From business (net)...............................
From nonprofit institutions 2.....................
Less: Contributions for government social insurance......................................................................................
Less: Household current taxes.....................
Equals: Disposable household income......................................................................................................
Less: Household outlays..........................................................................................................................
Household consumption expenditures,
Purchases from business and government........................................................................................
Purchases from nonprofit institutions3..
Household interest payments 1...........................................................................................................
Household transfer payments............................................................................................................
To government............
To the rest of the world (net)...........................................................................................................
To nonprofit institutions 4................................................................................................................
Equals: Household saving........................................................................................................................
Household saving as a percentage of household disposable Income.......................................................
Nonprofit institution income
............................................................................................. .................
Rental income of nonprofit institutions with capital consumption adjustment........................................................
Nonprofit institution income receipts on assets.............................................................................................
Nonprofit institution interest income........................................................................................................
Nonprofit institution dividend income......................................................................................................
Nonprofit institution transfer receipts...........................................................................................................
From government...............................................................................................................................
From business (net)............
From households 4.............................................................................................................................
Less: Nonprofit institution outlays...................................
Final consumption expenditures of nonprofit institutions ...
Nonprofit institution gross consumption expenditures 5
Medical care............................................................................................................................
Recreation..............................................................................................................................
Education and research.............................................................................................................
Religious and welfare activities....................................................................................................
Personal business
Less: Receipts from sales of goods and services by nonprofit institutions 3...............................................
Medical care............................................................................................................................
Recreation..............................................................................................................................
Education and research.............................................................................................................
Religious and welfare activities....................................................................................................
Personal business
Nonprofit institution current transfer payments........................................................................................
To government6..........................................................................................................................
To the rest of the world (net)...........................................................................................................
To households 2..........................................................................................................................
Equals: Nonprofit institution saving
Nonprofit institution saving as a percentage of nonprofit income and receipts from sales..........................
Addenda:
Nonprofit institution income included in personal income 7...............................................................................
Transfer payments between nonprofit institutions 8........................................................................................
Nonprofit institution income and receipts from sales.......................................................................................
1. Consists of nonmortgage interest paid by households.
2. Includes benefits paid to members, specific assistance to individuals, and grants and allocations.
3. Excludes unrelated sales, secondary sales, and sales to business, government, and the rest of the
world; includes membership dues and fees.
4. Includes individual contributions and bequests from households.
5. Expenditures are net of unrelated sales, secondary sales, and sales to business, government, and the
rest of the world.
2004
2005
2006
2007
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
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
72
73
74
75
9,727.2
6,671.4
911.6
118.4
1,432.1
895.1
537.0
1,422.5
1,396.1
26.4
828.8
1,046.3
8,680.9
8,499.2
8,195.9
191.3
112.1
68.9
43.1
181.7
2.1
9,720.7
6,671.4
911.6
116.2
1,394.7
872.7
522.0
1,455.6
1,377.9
16.2
61.5
828.8
1,046.3
8,674.4
8,514.8
8,016.3
7,396.5
619.7
191.3
307.2
68.5
34.3
204.5
159.6
1.8
272.5
2.2
37.4
22.3
15.1
232.9
18.2
10.2
204.5
250.4
179.6
799.4
464.1
28.2
120.3
163.8
22.9
619.7
454.0
22.0
68.5
54.1
21.1
70.8
0.5
8.9
61.5
22.1
2.5
10,269.8
7,025.8
959.8
40.9
1,596.9
1,022.0
574.9
1,520.7
1,481.9
38.8
874.3
1,207.8
9,062.0
9,029.5
8,694.1
215.0
120.4
72.5
47.9
32.5
0.4
10,248.6
7,025.8
959.8
38.9
1,551.8
995.7
556.2
1,546.6
1,463.3
23.4
59.9
874.3
1,207.8
9,040.8
9,051.0
8,512.2
7,850.0
662.2
215.0
323.8
71.9
36.8
215.1
-10.2
-0.1
296.2
2.0
45.0
26.3
18.7
249.1
18.6
15.4
215.1
253.6
181.9
844.1
497.6
29.5
127.1
166.1
23.8
662.2
488.2
23.3
73.0
56.1
21.6
71.6
0.6
11.0
59.9
42.6
4.4
10,993.9
7,432.6
1,014.7
44.3
1,824.8
1,125.4
699.4
1,603.0
1,578.1
24.9
925.5
1,353.2
9,640.7
9,570.0
9,207.2
235.4
127.4
76.2
51.1
70.7
0.7
10,971.7
7,432.6
1,014.7
42.1
1,774.0
1,095.2
678.9
1,633.7
1,558.6
12.1
63.0
925.5
1,353.2
9,618.5
9,579.9
9,006.5
8,306.5
700.0
235.4
338.0
75.5
39.9
222.5
38.6
0.4
307.7
2.1
50.8
30.3
20.5
254.8
19.5
12.8
222.5
275.6
200.7
900.7
531.4
32.0
134.2
177.7
25.2
700.0
516.6
25.1
76.5
59.0
22.8
74.9
0.7
11.2
63.0
32.1
3.2
11,663.2
7,818.6
1,056.2
40.0
2,000.1
1,214.3
785.8
1,713.3
1,681.4
31.9
965.1
1,492.8
10,170.5
10,113.1
9,710.2
265.4
137.5
81.2
56.3
57.4
0.6
11,642.0
7,818.6
1,056.2
37.7
1,949.2
1,183.3
765.9
1,745.4
1,660.9
18.8
65.7
965.1
1,492.8
10,149.3
10,110.0
9,494.5
8,758.1
736.4
265.4
350.1
80.5
42.6
227.1
39.3
0.4
314.0
2.4
50.9
31.0
19.9
260.6
20.5
13.1
227.1
295.8
215.7
952.0
567.7
32.7
141.7
183.2
26.7
736.4
544.4
26.3
80.6
61.5
23.5
80.2
0.7
13.8
65.7
18.1
1.7
76
77
78
68.0
64.0
892.3
81.1
67.8
958.4
85.2
73.0
1,007.8
86.9
80.6
1,050.3
6. Consists of excise taxes paid by nonprofit institutions serving households.
7. Consists of rental income of nonprofit institutions (line 48), income receipts on assets (line 49), transfer
receipts fromgovernment (line 53), and transfer receipts from business (line 54).
8. Includes grants and allocations made by nonprofit institutions that indirectly support households through
the support of other nonprofit institutions, plus their payments to affiliates.
Note. Estimates in this table exclude nonprofit institutions serving business and government.
8
N ovem ber 2 0 0 8
Updated Summary of NIPA Methodologies
The Bureau o f Econom ic Analysis (BEA) has recently
im proved its estim ates o f cu rren t-d o llar gross dom estic
p ro d u ct (G D P), cu rren t-d o llar gross dom estic incom e
(G D I), an d real GDP as p a rt o f the 2008 annual revision
o f the national incom e an d p ro d u ct accounts (N IPA s).1
The sources o f data and the m ethodologies th at are now
used to prepare the NIPA estim ates are sum m arized in
this re p o rt.2
Current-dollar estimates of GDP and GDI
T he curren t-d o llar estim ates o f GDP and GDI for 2007
are presented in table 1. The com ponents and subcom po
nents o f GDP and GDI are listed according to the estim a
tio n m eth o d used by BEA (colum n 1). In fo rm ation about
the sources o f data and the m ethods th at are used to p re
pare the estim ates for the com prehensive benchm ark
revisions and for the annual revisions in n o n b enchm ark
years are also presented, and th e m ajor differences
betw een the data and the m ethods used in benchm ark
revisions an d those used in the annual revisions are noted
(colum n 2). For exam ple, for “m ost durable and n o n d u
rable goods” in personal consu m p tio n expenditures
(PCE) (the first item in table 1), the table indicates th at
one m ethodology (com m odity flow) is used to prepare
estim ates for ben ch m ark years, and an o th er m eth o d o l
ogy (retail control) is used to prepare the estim ates for all
the o th er years.
Additionally, info rm atio n ab o u t the advance quarterly
estim ates, w hich are prepared ab o u t a m o n th after the
end o f the quarter, are presented (colum n 3). In fo rm a
tio n ab o u t the advance quarterly estim ates rather than
about the prelim inary o r final quarterly estim ates are
provided because m ore atten tio n tends to be focused on
this “first look” at th e estim ate for a quarter. O nly the
source data and m ethods are listed; the nu m b er o f
m o n th s o f available source data o r w hether the source
data will be revised by the source agency are n o t listed.3
1. The concepts and methodologies that underlie the NIPAs are subject to
periodic improvements as part of the comprehensive and annual NIPA
revisions, and these improvements are described in a series of articles in the
S u r v e y o f C u r r e n t B u s i n e s s ; for a list of these articles, see appendix B at the
back of this issue. See also Eugene P. Seskin and Shelly Smith, “Annual Revi
sion of the National Income and Product Accounts,” S u r v e y 88 (August
2008): 6-22.
2. For descriptions of the fundamental concepts, definitions, classifica
tions, and accounting framework that underlie the NIPAs and of the gen
eral sources and methods that are used to prepare the estimates, see
Concepts and Methods of the U.S. National Income and Product Accounts on
BEA’s Web site at www.bea.gov/national/pdf/NIPAhandbookchl-4.pdf.
3. For information on the key monthly source data, see “GDP and the
Economy” in the S u r v e y .
Source data
The source data include a variety o f econom ic measures,
such as sales or receipts, wages and salaries, u n it sales,
housing stock, insurance prem ium s, expenses, interest
rates, m ortgage debt, and tax collections.
For m ost com ponents, the estim ates are derived from
source data that are “value data”: They encom pass bo th
the q uantity data and the price data required to prepare
current-dollar estim ates. For these com ponents, the value
data are adjusted to derive estim ates th at are consistent
w ith NIPA definitions and coverage (see table 1).
For the estim ates th at are n o t derived from value data,
the sources o f the q uantity and price data th a t are used to
prepare value estim ates are indicated, and the m ajor
adjustm ents that are needed to derive estim ates th a t are
consistent w ith NIPA definitions and coverage are speci
fied.
For the current-dollar estim ates o f GDP, a “physical
quantity tim es price” m eth o d is used for several co m p o
nents. For exam ple, the annual estim ate o f expenditures
on new autos in a nonb en ch m ark year is calculated as
un it sales tim es expenditure per auto (the average tra n s
actions price th at reflects all discounts and custom er
rebates).
For the current-dollar estim ates o f GDI, two m ethods
are used for several com ponents— an “em ploym ent tim es
earnings tim es h o u rs” m eth o d and variations o f a “stock
o f assets/liabilities tim es an effective interest rate”
m ethod.
Some o f the source data are used as indicators to in ter
polate or extrapolate annual estimates. In som e cases,
extrapolation and interpolation m ay be based on trends;
in th at case, the use o f “judgm ental tre n d ” is indicated.4
Estimation methods
In som e cases, BEA also uses four m ethods to estim ate
values: The com m odity-flow m ethod, the retail control
m ethod, the perpetual inventory m ethod, and the fiscal
year analysis m ethod.
The commodity-flow method involves estim ating val
ues based on various m easures o f ou tp u t. For example,
the estim ates o f personal expenditures on new autos in
benchm ark years are based on data on m anufacturers’
shipm ents from the Census Bureau, and BEA adjusts the
data for im ports and exports. In general, this m eth o d is
used to derive estim ates o f various com ponents o f PCE,
equipm ent and software, and o f the com m odity detail for
state and local governm ent co n sum ption expenditures
4. For a few components, the final quarterly estimates are based on newly
available source data that replace judgmental trends.
N ovem ber 2 0 0 8
Su r v e y of C u r r e n t B usiness
and gross investm ent.5 An abbreviated form o f this
m eth o d is used to prepare estim ates o f eq uipm ent and
software in n o n b en ch m ark years, and an even m ore
abbreviated form is used to prepare the cu rren t quarterly
estim ates o f eq uipm ent and software.
The retail control method uses retail sales data, u su
ally com piled by the Census Bureau, to estim ate expendi
tures.6 It is used to prepare estim ates o f m any
subcom ponents o f durable and nondu rab le goods in
n o n b en ch m ark years.
The perpetual inventory method is used to derive
estim ates o f fixed capital stock, w hich are used to esti
m ate consu m p tio n o f fixed capital. This m eth od is based
on investm ent flows and a geom etric depreciation for
m ula.7
The fiscal year analysis method is used to estim ate
annual and quarterly estim ates o f consu m p tion expendi
tures and gross investm ent by the Federal G overnm ent.
The estim ates o f expenditures are calculated by program ,
th at is, by activity for a single line item or for a group of
line item s in the Budget o f the U.S. Governm ent. For m ost
program s, BEA adjusts budget outlays so th a t they co n
form to the NIPAs and classifies the expenditures in the
appropriate NIPA category— such as cu rrent transfer
paym ents and interest paym ents— w ith nondefense con
su m p tio n expenditures and gross investm ent th at are
determ ined residually. W hen a fiscal year analysis is com
pleted, the detailed array o f NIPA expenditures by p ro
gram an d by type o f expenditure provides a set o f control
totals for the quarterly estim ates.8
International transactions accounts
The source data for th e foreign transactions th at are
reflected in m ost NIPA com ponents— such as net exports
o f goods and services, net incom e receipts and rest-ofthe-w orld corporate profits— are from the international
transactions accounts (ITAs) th a t are prepared by BEA.9
5. For additional information on the commodity-flow method, see “Esti
mating Methods” in Concepts and Methods of the U.S. National Income and
Product Accounts at www.bea.gov/national/pdf/NIPAhandbookchl-4.pdf
(July 2008): 4-8—4-9.
6. See “Estimating Methods,” 4-9.
7. For additional information, see “Estimating Methods,” 4-11
8. For details, see the methodology paper Government Transactions at
www.bea.gov/bea/mp.htm.
9. See The Balance of Payments of the United States: Concepts, Data
Sources, and Estimating Procedures at www.bea.gov/bea/mp/htm. Improve
ments in methodology are usually introduced as part of annual ITA revi
sion; see Christopher L. Bach, “Annual Revision of the U.S. International
Transactions Accounts” Survey 88 (July 2008): 36-52.
9
As noted in table 1, for som e NIPA com ponents, the ITA
estim ates are adjusted to conform to NIPA concepts and
definitions. For the annual estim ates o f these adjustm ents
and their definitions, see NIPA table 4 .3 B in the August
2 0 0 8 S u rv ey o f C u r r e n t B usiness (page 109); for sum m ary
quarterly estim ates, see the reconciliation table in app en
dix A in the Survey.
Reconciliation tables. In preparing the annual esti
m ates o f several com ponents o f GDI, BEA adjusts the
source data to conform to the NIPA concepts and cover
age. For each subcom ponent, an annual NIPA table rec
onciles the value published by the source agency w ith the
NIPA value published by BEA, an d the adjustm ents are
listed. Reconciliation tables for the following subcom po
nents were published in “N ational Incom e and Product
Accounts Tables” in the August 2 0 0 8 S urvey: con su m p
tion o f fixed capital in table 7 .13; n o nfarm p ro p rieto rs’
incom e in table 7 .1 4 ; corporate profits in table 7.16; net
m onetary interest in table 7.17; and wages and salaries in
table 7 .18.
Real estimates of GDP
BEA uses three m ethods to estim ate real GDP: The defla
tio n m ethod, the q u antity extrapolation m ethod, and the
direct valuation m ethod. These m ethods and the source
data th at are used are presented in table 2.
The deflation method is used for m ost com ponents of
GDP. The q uantity index is derived by dividing the c u r
rent-dollar index by an appropriate price index th a t has
the base year— currently 2 0 0 0 — equal to 100. The result
is then m ultiplied by 100.
The quantity extrapolation method uses quantity
indexes th at are obtained by using a qu an tity indicator to
extrapolate from the base-year value o f 100.
The direct valuation method uses q uantity indexes
th a t are obtained by m ultiplying the base-year price by
actual q uantity data for the index period. The result is
th en expressed as an index w ith the base year equal to
100.
The subcom ponents in table 2 are the same as those
show n in table 1, b u t the detail differs to highlight the
alternative m ethodologies th at are used to calculate the
real estim ates.10
10. For real estimates, the distinction between annual and quarterly
methodologies is less important than it is for the current-dollar estimates.
For the relatively few cases in which the annual and quarterly source data
differ, the major differences are noted.
Tables 1 an d 2 follow.
10
S u m m a r y N IP A M e th o d o lo g ie s
N ovem ber 2 0 0 8
Table 1. Source Data and Methods for Current-Dollar GDP and Current-Dollar GDI—Continues
Component
Annual estimates:
Source data and methods used to determine level for benchmark
and other years or used to prepare an extrapolator or interpolator
Advance quarterly estimates:
Source data and methods used
to prepare an extrapolator
Gross domestic product of $13,807.5 billion for 2007
Personal consumption expenditures ($9,710.2 billion)
Durable and nondurable goods
($ 3 ,9 1 5 .8 b illio n ) 1
M o s t d u r a b le a n d
n o n d u r a b le g o o d s e x c e p t
t h o s e lis te d b e lo w
( $ 3 ,1 9 3 .0 b i llio n ) 2
B e n c h m a r k y e a rs . C o m m o d ity - flo w m e th o d , s t a r t in g w ith
m a n u fa c tu r e r s ’ s h ip m e n ts fr o m C e n s u s B u r e a u q u in q u e n n ia l c e n s u s
a n d in c lu d in g a n a d ju s t m e n t fo r e x p o r ts a n d im p o r ts fr o m C e n s u s
B u r e a u fo r e ig n tr a d e d a ta .
O th e r y e a r s . R e ta il- c o n tr o l m e th o d , u s in g re ta il s a le s fr o m C e n s u s
B u r e a u a n n u a l s u r v e y o f r e ta il tr a d e o r, fo r th e m o s t r e c e n t y e a r,
m o n th ly s u r v e y o f re ta il tr a d e .
S a m e a s th e a n n u a l e s tim a te s
fo r o th e r y e a rs .
N e w a u to s ( $ 1 0 2 . 0 b illio n )
B e n c h m a r k y e a r s . C o m m o d it y - f lo w m e th o d , s t a r t in g w ith
m a n u fa c tu r e r s ’ s h ip m e n ts fr o m C e n s u s B u r e a u q u in q u e n n ia l c e n s u s
a n d in c lu d in g a n a d ju s t m e n t fo r e x p o r ts a n d im p o r ts fr o m C e n s u s
B u r e a u fo r e ig n tr a d e d a ta .
O th e r y e a r s . P h y s ic a l q u a n tity p u r c h a s e d tim e s a v e r a g e re ta il p r ic e :
U n it s a le s , in fo r m a t io n to a llo c a te s a le s a m o n g c o n s u m e r s a n d o th e r
p u r c h a s e r s , a n d a v e r a g e lis t p r ic e w ith o p tio n s , a ll fr o m tr a d e
s o u r c e s . T r a n s p o r ta tio n c h a r g e s , d e a le r d is c o u n ts , a n d r e b a te s fr o m
B u r e a u o f L a b o r S ta tis tic s ( B L S ) m o n th ly s u r v e y o f a u to s a le s p r ic e s .
S a le s ta x r a te fr o m C e n s u s B u r e a u a n n u a l s u r v e y o f r e ta il tra d e .
S a m e a s th e a n n u a l e s tim a te s
fo r o th e r y e a rs .
N e t p u rc h a s e s o f u se d
a u to s a n d u s e d lig h t
tr u c k s ( $ 1 2 1 . 2 b illio n )
B e n c h m a r k y e a r s . F o r n e t t r a n s a c tio n s , r e s id u a l b a s e d o n n e t s a le s b y
o t h e r s e c to r s . F o r d e a le r s ’ m a r g in , r e ta il s a le s fr o m C e n s u s B u r e a u
q u in q u e n n ia l c e n s u s a n d m a r g in r a te fr o m C e n s u s B u r e a u a n n u a l
s u r v e y o f re ta il tr a d e .
O t h e r y e a r s e x c e p t th e m o s t r e c e n t y e a r. F o r n e t t r a n s a c tio n s , c h a n g e
in c o n s u m e r s to c k o f a u to s fr o m tr a d e s o u r c e s . F o r d e a le r s ’ m a r g in ,
f o r fr a n c h is e d d e a le r s , u n it s a le s a n d s a le s p r ic e fr o m tr a d e s o u r c e s
t im e s m a r g in ra te fo r in d e p e n d e n t d e a le r s fr o m C e n s u s B u r e a u
a n n u a l s u r v e y o f re ta il tr a d e ; f o r in d e p e n d e n t d e a le r s , m a r g in fr o m
C e n s u s B u r e a u a n n u a l s u r v e y o f re ta il tr a d e .
M o s t r e c e n t y e a r. F o r n e t t r a n s a c tio n s , s a m e a s o th e r y e a r s e x c e p t th e
m o s t r e c e n t. F o r d e a le r s ’ m a r g in , fo r fr a n c h is e d d e a le r s , u n it s a le s
a n d s a le s p r ic e fr o m t r a d e s o u r c e s ; fo r in d e p e n d e n t d e a le r s , s a le s
fr o m C e n s u s B u r e a u m o n th ly s u r v e y o f re ta il tra d e .
F o r n e t tr a n s a c tio n s ,
e x tr a p o la te d b y r e ta il s a le s o f
u s e d v e h ic le d e a le r s fr o m
C e n s u s B u r e a u m o n th ly
s u r v e y o f r e ta il tr a d e . F o r
d e a le r s ’ m a r g in , ju d g m e n ta l
tr e n d .
N e w lig h t tr u c k s ( in c lu d in g
u tility v e h ic le s ) ( $ 1 3 8 . 3
b illio n )
B e n c h m a r k y e a rs . C o m m o d it y - f lo w m e th o d , s ta r tin g w ith
m a n u fa c tu r e r s ’ s h ip m e n ts fr o m C e n s u s B u r e a u q u in q u e n n ia l c e n s u s
a n d in c lu d in g a n a d ju s t m e n t fo r e x p o r ts a n d im p o r ts fr o m C e n s u s
B u r e a u f o r e ig n tr a d e d a ta .
O th e r y e a r s . P h y s ic a l q u a n t it y p u r c h a s e d tim e s a v e r a g e re ta il p r ic e :
U n it s a le s , in fo r m a t io n to a llo c a te s a le s a m o n g c o n s u m e r s a n d o th e r
p u r c h a s e r s , a n d a v e r a g e tr a n s a c tio n s p r ic e s t h a t r e fle c t a ll d is c o u n ts
a n d c u s t o m e r r e b a te s , a ll fr o m tr a d e s o u r c e s . S a le s t a x ra te fr o m
C e n s u s B u r e a u a n n u a l s u r v e y o f re ta il tra d e .
S a m e a s th e a n n u a l e s tim a te
fo r o th e r y e a r s .
G a s o lin e a n d o il ( $ 3 4 0 . 6
b illio n ) 2
B e n c h m a r k y e a rs . P h y s ic a l q u a n tity p u r c h a s e d tim e s a v e r a g e re ta il
p r ic e : G a llo n s c o n s u m e d fr o m th e D e p a r tm e n t o f T r a n s p o r ta tio n ;
in fo r m a t io n to a llo c a te th a t to t a l a m o n g c o n s u m e r s a n d o th e r
p u r c h a s e r s fr o m F e d e r a l a g e n c ie s a n d tr a d e s o u r c e s ; a v e r a g e re ta il
p r ic e fr o m th e E n e r g y In f o r m a tio n A d m in is tr a tio n (E IA ).
O t h e r y e a r s e x c e p t th e m o s t r e c e n t y e a r. S a m e a s b e n c h m a r k y e a rs .
M o s t r e c e n t y e a r. P h y s ic a l q u a n t it y p u r c h a s e d t im e s a v e r a g e re ta il
p r ic e : G a llo n s c o n s u m e d a n d a v e r a g e p r ic e fr o m E IA .
S a m e a s th e a n n u a l e s tim a te
f o r th e m o s t r e c e n t y e a r.
F o o d f u r n is h e d to
e m p lo y e e s ( in c lu d in g
m ilita r y ) ( $ 1 4 .7 b illio n )
B e n c h m a r k y e a r s . F o r c o m m e r c ia l e m p lo y e e s , n u m b e r o f e m p lo y e e s
o f r e le v a n t in d u s tr ie s fr o m B L S ta b u la tio n s tim e s B E A e s tim a te o f p e r
c a p it a e x p e n d itu r e s fo r fo o d ; fo r m ilita r y p e r s o n n e l, o u tla y s fr o m th e
Budget of the United States p r e p a r e d b y th e O ffic e o f M a n a g e m e n t
a n d B u d g e t (O M B ).
O th e r y e a rs . S a m e a s b e n c h m a r k y e a r s e x c e p t p e r c a p it a
e x p e n d itu r e s fo r fo o d b a s e d o n B L S c o n s u m e r p r ic e in d e x (C P I) fo r
fo o d .
F o r c o m m e r c ia l e m p lo y e e s ,
s a m e a s th e a n n u a l e s tim a te s
f o r o t h e r y e a r s ; fo r m ilita r y
p e r s o n n e l, ju d g m e n t a l tr e n d .
E x p e n d itu r e s a b r o a d b y
U .S . r e s id e n ts ($ 9 .1
b illio n ) le s s p e r s o n a l
r e m itta n c e s in k in d to
n o n r e s id e n ts ($ 3 .1 b illio n )
E s tim a te d a s p a r t o f th e in te r n a t io n a l tr a n s a c tio n s a c c o u n ts ; s e e th e
e n t r y fo r e x p o r ts a n d im p o r ts o f s e r v ic e s u n d e r n e t e x p o r ts o f g o o d s
a n d s e r v ic e s .
J u d g m e n ta l tr e n d .
See the footnotes at the end of the table.
N ovem ber 2 0 0 8
Su r v e y of C u r r e n t B usiness
11
Table 1. Source Data and Methods for Current-Dollar GDP and Current-Dollar GDI—Continues
Component
Services
Annual estimates:
Source data and methods used to determine level for benchmark
and other years or used to prepare an extrapolator or interpolator
Advance quarterly estimates:
Source data and methods used
to prepare an extrapolator
( $ 5 , 7 9 4 . 4 b illio n )
N o n f a r m d w e llin g s : S p a c e
r e n t fo r o w n e r - o c c u p ie d
d w e llin g s a n d r e n t fo r
te n a n t- o c c u p ie d
d w e llin g s ( $ 1 ,3 6 2 .4
b illio n )
B e n c h m a r k y e a r s . B a s e d o n d a ta o n h o u s in g s to c k a n d a v e r a g e
a n n u a l r e n t fr o m C e n s u s B u r e a u d e c e n n ia l c e n s u s o f h o u s in g a n d
s u r v e y o f r e s id e n tia l fin a n c e , a d ju s te d fo r u tilitie s in c lu d e d in re n t.
O t h e r y e a r s . B a s e d o n d a ta o n h o u s in g s to c k a n d a v e r a g e a n n u a l re n t
f r o m C e n s u s B u r e a u b ie n n ia l h o u s in g s u r v e y o r o n th e n u m b e r o f
h o u s in g u n its fr o m C e n s u s B u r e a u m o n th ly c u r r e n t p o p u la tio n s u r v e y
a n d B L S C P I fo r re n t.
F o r h o u s in g s to c k , ju d g m e n ta l
tr e n d ; fo r a v e r a g e re n t, B L S
C P I fo r re n t.
R e n ta l v a lu e o f fa r m
d w e llin g s ( $ 1 5 .2 b illio n )
U .S . D e p a r tm e n t o f A g r ic u lt u r e ( U S D A ) d a ta o n g r o s s r e n ta l v a lu e o f
fa r m d w e llin g s .
J u d g m e n ta l tr e n d .
M o to r v e h ic le re p a ir, r e n ta l,
a n d o t h e r s e r v ic e s ; o th e r
r e p a ir s e r v ic e s ; o t h e r
p u r c h a s e d in te r c ity
tr a n s p o r t a t io n ; le g a l a n d
fu n e r a l s e r v ic e s ; b a r b e r
s h o p s , b e a u ty p a r lo r s ,
a n d h e a lth c lu b s ; n u r s in g
h o m e s ; la u n d r ie s ;
e m p lo y m e n t a g e n c y fe e s ;
a c c o u n t in g a n d t a x r e tu r n
p r e p a r a tio n s e r v ic e s ;
r e c r e a t io n ( e x c e p t c a b le
T V , p a r im u tu e l n e t
r e c e ip ts , lo tte r ie s , a n d
c o m p u te r o n lin e
s e r v ic e s ) ; h o te ls a n d
m o te ls ; c o m m e r c ia l
b u s in e s s , tr a d e , a n d
c o r r e s p o n d e n c e s c h o o ls ;
e d u c a tio n a l s e r v ic e s n o t
e ls e w h e r e c la s s ifie d ;
r e s e a r c h o r g a n iz a tio n s
a n d f o u n d a tio n s ( $ 9 9 1 . 0
b illio n )
B e n c h m a r k y e a r s . R e c e ip ts a n d e x p e n s e s fr o m C e n s u s B u r e a u
q u in q u e n n ia l c e n s u s a d ju s te d fo r r e c e ip ts fr o m b u s in e s s a n d
g o v e r n m e n ts .
O th e r y e a rs . F o r e d u c a tio n a l s e r v ic e s n o t e ls e w h e r e c la s s ifie d a n d
fo u n d a tio n s , B L S ta b u la tio n s fr o m th e Q u a r t e r ly C e n s u s o f
E m p lo y m e n t a n d W a g e s ( Q C E W ) ; fo r o th e r s in th is g r o u p , r e c e ip ts
a n d e x p e n s e s f r o m C e n s u s B u r e a u s e r v ic e a n n u a l s u r v e y .
F o r n u r s in g h o m e s , r e s e a r c h
o r g a n iz a tio n s a n d
fo u n d a tio n s , e m p lo y m e n t
a g e n c y fe e s , a n d c lu b s a n d
fr a te r n a l o r g a n iz a tio n s , w a g e s
a n d s a la r ie s d e r iv e d fr o m B L S
m o n th ly e m p lo y m e n t t im e s
e a r n in g s tim e s h o u r s ; fo r
c o m m e r c ia l b u s in e s s , tr a d e ,
a n d c o r r e s p o n d e n c e s c h o o ls ,
a n d fo r e d u c a tio n s e r v ic e s n o t
e ls e w h e r e c la s s ifie d ,
e m p lo y m e n t tim e s B L S C P I
fo r te c h n ic a l a n d b u s in e s s
s c h o o l tu itio n a n d fe e s ; fo r
l e g itim a te th e a te r s a n d m o tio n
p ic tu r e s , r e c e ip ts fr o m tr a d e
s o u r c e s ; fo r r a d io a n d T V
r e p a ir, n u m b e r o f T V s b a s e d
o n s to c k a n d s a le s fr o m tr a d e
s o u r c e tim e s B L S C P I fo r
v id e o a n d a u d io ; fo r h o te ls
a n d m o te ls , r o o m s r e n te d
tim e s a v e r a g e p r ic e p e r ro o m
fr o m tr a d e s o u r c e ; fo r c a s in o
g a m b lin g , r e c e ip ts fr o m s ta te
a g e n c ie s ; fo r o t h e r s in th is
g r o u p , ju d g m e n t a l tr e n d .
P h y s ic ia n s , d e n tis ts , h o m e
h e a lth c a r e , m e d ic a l
la b o r a to r ie s , e y e
e x a m in a tio n s , a ll o th e r
p r o fe s s io n a l m e d ic a l
s e r v ic e s ( $ 7 4 4 . 8 b illio n )
B e n c h m a r k y e a r s . F o r n o n p r o fit p r o fe s s io n a l s e r v ic e s , e x p e n s e s , a n d
fo r o th e r s in t h is g r o u p , r e c e ip ts , a d ju s te d f o r g o v e r n m e n t
c o n s u m p t io n , a ll f r o m C e n s u s B u r e a u q u in q u e n n ia l c e n s u s .
O t h e r y e a r s . R e c e ip ts a n d e x p e n s e s , a d ju s te d fo r g o v e r n m e n t
c o n s u m p t io n , fr o m C e n s u s B u r e a u s e r v ic e a n n u a l s u rv e y .
F o r h o m e h e a lth c a r e , w a g e s
a n d s a la r ie s d e r iv e d fr o m B L S
m o n th ly e m p lo y m e n t tim e s
e a r n in g s tim e s h o u r s ; fo r
o th e r s in th is g r o u p ,
ju d g m e n t a l tr e n d .
P r iv a te n u r s e r y s c h o o ls ,
e le m e n t a r y a n d
s e c o n d a r y s c h o o ls , d a y
c a re , m u s e u m s a n d
lib r a r ie s , w e lfa r e
a c tiv itie s , p o litic a l
o r g a n iz a tio n s ,
fo u n d a tio n s , a n d tr a d e
u n io n s a n d p r o fe s s io n a l
a s s o c ia tio n s ($ 2 6 3 .1
b illio n )
B e n c h m a r k y e a r s . F o r e le m e n t a r y a n d s e c o n d a r y s c h o o ls , e x p e n s e s
fr o m th e D e p a r t m e n t o f E d u c a tio n ; fo r n u r s e r y s c h o o ls a n d d a y c a r e ,
e x p e n d itu r e s fr o m B L S c o n s u m e r e x p e n d itu r e s u r v e y ; fo r o th e r s in
th is g r o u p , r e c e ip ts a n d e x p e n s e s fr o m C e n s u s B u r e a u q u in q u e n n ia l
census.
O th e r y e a r s . F o r n u r s e r y s c h o o ls a n d d a y c a r e , s a m e a s b e n c h m a r k
y e a r s ; fo r w e lfa r e a c tiv itie s , r e c e ip ts a n d e x p e n s e s fr o m C e n s u s
B u r e a u s e r v ic e a n n u a l s u r v e y ; fo r o th e r s in th is g r o u p , B L S
ta b u la tio n s fr o m t h e Q C E W .
F o r p o litic a l o r g a n iz a tio n s a n d
fo u n d a tio n s , ju d g m e n t a l tr e n d ;
fo r e le m e n t a r y a n d s e c o n d a r y
s c h o o ls , e m p lo y m e n t tim e s
B L S C P I fo r a ll ite m s le s s fo o d
a n d e n e r g y ; fo r o th e r s in th is
g r o u p , w a g e s a n d s a la r ie s
d e r iv e d fr o m B L S m o n th ly
e m p lo y m e n t t im e s e a r n in g s
tim e s h o u rs .
F in a n c ia l s e r v ic e s
fu r n is h e d w ith o u t
p a y m e n t b y b a n k s , o th e r
d e p o s it o r y in s titu tio n s ,
a n d in v e s tm e n t
c o m p a n ie s ( $ 2 2 7 .6
b illio n ) 3
S e e th e e n t r y fo r b a n k s , c r e d it a g e n c ie s , a n d in v e s t m e n t c o m p a n ie s
u n d e r n e t in te r e s t a n d m is c e lla n e o u s p a y m e n ts .
J u d g m e n ta l tr e n d .
See the footnotes at the end of the table.
12
Summary NIPA Methodologies
November 2008
Table 1. Source Data and Methods for Current-Dollar GDP and Current-Dollar GDI— Continues
A n n u a l e s tim a te s :
S o u r c e d a ta a n d m e th o d s u s e d to d e te r m in e le v e l fo r b e n c h m a r k
a n d o th e r y e a r s o r u s e d to p r e p a r e a n e x tr a p o la to r o r in te r p o la to r
A d v a n c e q u a r t e r ly e s tim a te s :
S o u r c e d a ta a n d m e th o d s u s e d
to p r e p a r e a n e x tr a p o la to r
B ro k e ra g e c h a rg e s a n d
in v e s t m e n t c o u n s e lin g ,
b a n k s e r v ic e c h a r g e s ,
in te r c ity t r a n s p o r ta tio n
e x c e p t “ o th e r,” a n d
p r iv a te h ig h e r e d u c a tio n
($ 3 4 2 . 4 b illio n )
A ll y e a r s e x c e p t th e m o s t r e c e n t y e a r. F o r p r iv a te h ig h e r e d u c a tio n ,
e x p e n s e s , a n d fo r o th e r s in th is g r o u p , r e c e ip ts fr o m a n n u a l r e p o r t s o f
g o v e r n m e n t a d m in is tr a tiv e a g e n c ie s .
M o s t r e c e n t y e a r. F o r b r o k e r a g e c h a r g e s , b a n k s e r v ic e c h a r g e s , a n d
in te r c ity t r a n s p o r ta tio n , r e c e ip ts fr o m a n n u a l r e p o r t s o f g o v e r n m e n t
a d m in is tr a tiv e a g e n c ie s ; fo r in v e s t m e n t c o u n s e lin g , r e c e ip ts fr o m
C e n s u s B u r e a u s e r v ic e a n n u a l s u r v e y ; fo r p r iv a te h ig h e r e d u c a tio n ,
e n r o llm e n t fr o m th e D e p a r tm e n t o f E d u c a tio n tim e s p r ic e in d e x fo r
h ig h e r e d u c a tio n fr o m tr a d e s o u r c e .
F o r s to c k b r o k e r a g e c h a r g e s ,
s to c k e x c h a n g e tr a n s a c tio n s
fr o m tr a d e s o u r c e s ; fo r in c o m e
fr o m s a le s o f in v e s t m e n t c o m
p a n y s e c u r itie s , s a le s o f o p e n e n d in v e s t m e n t c o m p a n y
s h a r e s fr o m tr a d e s o u r c e ; fo r
im p u te d c o m m is s io n s o n d e b t
s e c u r itie s , d e a le r tr a n s a c tio n s
in U .S . g o v e r n m e n t a n d a g e n
c y s e c u r itie s fr o m F e d e r a l
R e s e r v e B a n k o f N e w Y o rk ; fo r
c o m m o d itie s c o m m is s io n s ,
fu t u r e s c o n tr a c ts fr o m tr a d e
s o u r c e ; f o r in v e s t m e n t c o u n
s e lin g , w a g e s a n d s a la r ie s
d e r iv e d fr o m B L S m o n th ly
e m p lo y m e n t tim e s e a r n in g s
tim e s h o u r s ; fo r o th e r b r o k e r
a g e c h a r g e s a n d in v e s t m e n t
c o u n s e lin g a n d fo r b a n k
s e r v ic e c h a r g e s , ju d g m e n ta l
tr e n d ; fo r in te r c ity t r a n s p o r
ta t io n , r e c e ip ts fr o m tr a d e
s o u r c e s ; fo r p r iv a te h ig h e r
e d u c a tio n , e m p lo y m e n t tim e s
B L S C P I fo r a ll ite m s le s s fo o d
a n d e n e rg y .
D o m e s tic s e r v ic e ( $ 2 2 .4
b illio n )
B e n c h m a r k y e a rs . F o r c le a n in g s e r v ic e s , r e c e ip ts fr o m C e n s u s B u r e a u
q u in q u e n n ia l c e n s u s ; fo r o t h e r d o m e s tic s e r v ic e s , n u m b e r o f w o r k e r s
tim e s w e e k ly h o u r s tim e s e a r n in g s fr o m B L S .
O th e r y e a r s . N u m b e r o f w o r k e r s tim e s w e e k ly h o u r s tim e s e a r n in g s
fr o m B L S .
J u d g m e n ta l tr e n d .
P u b lic e d u c a tio n a n d
h o s p ita ls , w a te r a n d
o t h e r s a n it a r y s e r v ic e s ,
a n d lo tte r ie s ( $ 2 9 9 . 5
b illio n )
A ll y e a r s e x c e p t th e m o s t r e c e n t y e a r. F o r lo tte r ie s , n e t r e c e ip ts fr o m
C e n s u s B u r e a u q u in q u e n n ia l c e n s u s a n d a n n u a l s u r v e y s o f s ta t e a n d
lo c a l g o v e r n m e n ts , a d ju s te d to a c a le n d a r y e a r b a s is fr o m a fis c a l
y e a r b a s is ; fo r o th e r s in th is g r o u p , r e c e ip ts fr o m th e s a m e s o u r c e s .
M o s t r e c e n t y e a r. J u d g m e n ta l tr e n d .
J u d g m e n ta l tr e n d .
In s u r a n c e , p r iv a te
h o s p ita ls , r e lig io u s
a c tiv itie s , c a b le T V ,
e le c tr ic ity , n a tu r a l g a s ,
te le p h o n e , a n d lo c a l
t r a n s p o r t ( $ 1 ,3 7 8 .5
b illio n )
B e n c h m a r k y e a r s . F o r life in s u r a n c e , e x p e n s e s fr o m tr a d e s o u r c e s ; fo r
m e d ic a l a n d h o s p ita liz a tio n in s u r a n c e , p r e m iu m s fr o m t h e A g e n c y fo r
H e a lth c a r e R e s e a r c h a n d Q u a lit y a n d b e n e fits b a s e d o n ra tio o f
b e n e fits to p r e m iu m s fr o m C e n s u s B u r e a u q u in q u e n n ia l c e n s u s ; fo r
o t h e r in s u r a n c e , p r e m iu m s a n d d iv id e n d s to p o lic y h o ld e r s fr o m tr a d e
s o u r c e , n o r m a l lo s s e s a n d e x p e c te d in v e s t m e n t in c o m e d e r iv e d u s in g
in c u r r e d lo s s e s a n d in v e s t m e n t g a in s , re s p e c tiv e ly , fr o m tr a d e s o u r c e ;
f o r p r iv a te h o s p ita ls , r e c e ip ts a n d e x p e n s e s fr o m C e n s u s B u r e a u
q u in q u e n n ia l c e n s u s ; fo r c a b le T V a n d t e le p h o n e , r e c e ip ts fr o m
C e n s u s B u r e a u q u in q u e n n ia l c e n s u s ; fo r r e lig io u s a c tiv itie s , e x p e n s e s
b a s e d o n c o n t r ib u t io n s a n d m e m b e r s h ip fr o m tr a d e s o u r c e s ; fo r
e le c t r ic it y a n d g a s , r e c e ip ts fr o m E IA ; fo r lo c a l tr a n s p o r t, r e c e ip ts fr o m
tra d e s o u rc e .
O th e r y e a r s e x c e p t th e m o s t r e c e n t y e a r. F o r p r iv a te a n d n o n p r o fit
h o s p ita ls , e x p e n s e s fr o m tr a d e s o u r c e ; fo r p r iv a te p r o p r ie ta r y
h o s p ita ls a n d c a b le T V , r e c e ip ts fr o m C e n s u s B u r e a u s e r v ic e a n n u a l
s u r v e y ; fo r te le p h o n e , r e c e ip ts fr o m th e F e d e r a l C o m m u n ic a tio n s
C o m m is s io n ; fo r o th e r s in th is g r o u p , s a m e a s b e n c h m a r k y e a rs .
M o s t r e c e n t y e a r. F o r life in s u r a n c e , w a g e s a n d s a la r ie s fr o m B L S
t a b u la tio n s fr o m Q C E W ; fo r m e d ic a l a n d h o s p ita liz a tio n in s u r a n c e ,
B L S e m p lo y e r c o s ts fo r e m p lo y e e h e a lth in s u r a n c e a n d w a g e s a n d
s a la r ie s fr o m B L S t a b u la tio n s o f e m p lo y e e s fr o m Q C E W ; fo r o th e r
in s u r a n c e , ju d g m e n t a l tr e n d ; fo r p r iv a te h o s p ita ls , r e c e ip ts a n d
e x p e n s e s fr o m C e n s u s B u r e a u s e r v ic e a n n u a l s u r v e y ; fo r r e lig io u s
a c tiv itie s , e x p e n s e s b a s e d o n p o p u la tio n fr o m th e C e n s u s B u r e a u a n d
p e r c a p it a d is p o s a b le p e r s o n a l in c o m e fr o m B E A ; fo r lo c a l tr a n s p o r t,
p a s s e n g e r t r ip s fr o m tr a d e s o u r c e s tim e s B L S C P I fo r in tr a c ity m a s s
tr a n s it; fo r e le c t r ic ity a n d n a tu r a l g a s , s a m e a s b e n c h m a r k y e a r s ; fo r
c a b le T V , r e c e ip ts fr o m C e n s u s B u r e a u s e r v ic e a n n u a l s u r v e y ; fo r
t e le p h o n e , r e c e ip ts fr o m c o m p a n y r e p o r t s a n d tr a d e s o u r c e s .
F o r life in s u r a n c e a n d p r iv a te
h o s p ita ls , w a g e s a n d s a la r ie s
d e r iv e d fr o m B L S m o n th ly
e m p lo y m e n t tim e s e a r n in g s
tim e s h o u r s ; fo r c a b le T V ,
n u m b e r o f c a b le T V a n d d ir e c t
b r o a d c a s t s a te llite s u b s c r ib e r s
fr o m tr a d e s o u r c e ; fo r
e le c t r ic ity a n d g a s , p r o je c te d
q u a n titie s b a s e d o n d e g r e e d a y d a ta fr o m th e N a tio n a l
O c e a n ic a n d A t m o s p h e r ic
A d m in is tr a tio n tim e s p r ic e s
b a s e d o n B L S C P Is fo r
e le c t r ic ity a n d g a s ; fo r c e llu la r
t e le p h o n e , n u m b e r o f
s u b s c r ib e r s fr o m tr a d e s o u r c e
tim e s B L S C P I fo r c e llu la r
t e le p h o n e s e r v ic e ; fo r o th e r s
in th is g r o u p , ju d g m e n ta l
tr e n d .
C om ponent
See the footnotes at the end of the table.
November 2008
Survey of C urrent Business
13
Table 1. Source Data and Methods for Current-Dollar GDP and Current-Dollar GDI—Continues
A n n u a l e s tim a te s :
S o u r c e d a ta a n d m e th o d s u s e d to d e t e r m in e le v e l fo r b e n c h m a r k
a n d o th e r y e a r s o r u s e d to p r e p a r e a n e x t r a p o la t o r o r in t e r p o la t o r
A d v a n c e q u a r t e r ly e s tim a te s :
S o u r c e d a ta a n d m e th o d s u s e d
to p r e p a r e a n e x tr a p o la to r
F o r e ig n tr a v e l b y U .S .
r e s id e n ts ( $ 1 1 3 . 6 b illio n )
le s s e x p e n d itu r e s in th e
U n ite d S ta te s b y n o n
r e s id e n ts ( $ 1 2 2 . 6 b illio n )
E s tim a te d a s p a r t o f th e in te r n a t io n a l tr a n s a c tio n s a c c o u n ts ; s e e th e
e n t r y fo r e x p o r ts a n d im p o r t s o f s e r v ic e s u n d e r n e t e x p o r ts o f g o o d s
a n d s e r v ic e s .
S a m e a s th e a n n u a l e s tim a te s .
O th e r s e r v ic e s : M o to r
v e h ic le le a s in g ; p a r im u tu e l
n e t r e c e ip ts ; o t h e r h o u s in g
e x c e p t h o te ls a n d m o te ls ;
b r id g e , e tc . to lls ; o t h e r
h o u s e h o ld o p e r a t io n
e x c e p t r e p a ir s a n d
in s u r a n c e ; tr a v e l a n d
e n t e r t a in m e n t c a r d fe e s ;
s t e n o g r a p h ic a n d
r e p r o d u c tio n s e r v ic e s ;
m o n e y o rd e rs a n d
c la s s ifie d a d v e r tis in g ; a n d
c o m p u t e r o n lin e s e r v ic e s
( $ 1 5 6 . 3 b illio n )
V a r io u s s o u r c e d a ta .
F o r m o t o r v e h ic le le a s in g ,
n u m b e r o f le a s e d v e h ic le s
b a s e d o n r e g is tr a t io n s a n d
te r m s fr o m tr a d e s o u r c e , a n d
le a s e p a y m e n t s b a s e d o n
n e w v e h ic le p r ic e s , B E A
d e p r e - c ia t io n s c h e d u le s , a n d
F e d e ra l R e s e rv e B o a rd
( F R B ) in te r e s t r a te s o n n e w
m o t o r v e h ic le lo a n s ; fo r
o th e r s in t h is g r o u p ,
ju d g m e n t a l tr e n d .
C om ponent
Fixed investment ($2,134.0 billion)
Nonresidential structures ($480.3 billion)
C o m m e r c ia l a n d h e a lth c a r e
( $ 1 4 7 . 4 b illio n )
B e n c h m a r k y e a r s . B E A ’s b e n c h m a r k in p u t- o u tp u t ta b le .
O t h e r y e a rs . C o n s t r u c tio n s p e n d in g (v a lu e p u t in p la c e ) fr o m C e n s u s
B u r e a u m o n th ly c o n s tr u c tio n s u rv e y .
S a m e a s th e a n n u a l e s tim a te s
fo r o t h e r y e a rs .
M a n u fa c tu r in g ( $ 3 3 .0 b illio n )
C o n s t r u c tio n s p e n d in g ( v a lu e p u t in p la c e ) fr o m C e n s u s B u r e a u
m o n th ly c o n s tr u c tio n s u rv e y .
S a m e a s th e a n n u a l e s tim a te s .
P o w e r a n d c o m m u n ic a tio n
( $ 6 2 .3 b illio n )
C o n s t r u c tio n s p e n d in g (v a lu e p u t in p la c e ) fr o m C e n s u s B u r e a u
m o n th ly c o n s tr u c tio n s u r v e y .
S a m e a s th e a n n u a l e s tim a te s .
M in in g e x p lo r a tio n , s h a fts ,
a n d w e lls ( $ 1 1 8 .1 b illio n )
B e n c h m a r k y e a r s . E x p e n d itu r e s fr o m C e n s u s B u r e a u q u in q u e n n ia l
census.
A ll y e a r s e x c e p t th e m o s t r e c e n t y e a r. F o r p e tr o le u m a n d n a tu r a l g a s ,
p h y s ic a l q u a n t it y tim e s a v e r a g e p r ic e : F o o ta g e d r ille d a n d c o s t p e r
fo o t fr o m tr a d e s o u r c e s ; fo r o t h e r m in in g , e x p e n d itu r e s f r o m C e n s u s
B u r e a u a n n u a l c a p it a l e x p e n d itu r e s u rv e y .
M o s t r e c e n t y e a r. F o r p e tr o le u m a n d n a tu r a l g a s , p h y s ic a l q u a n tity
tim e s a v e r a g e p r ic e : F o o ta g e d r ille d a n d c o s t p e r fo o t fr o m tr a d e
s o u r c e s e x tr a p o la te d b y B L S p r o d u c e r p r ic e in d e x fo r o il a n d g a s w e ll
d r illin g .
F o r p e tr o le u m a n d n a tu r a l g a s ,
s a m e a s t h e a n n u a l e s tim a te
fo r t h e m o s t r e c e n t y e a r ; fo r
m in in g , ju d g m e n ta l tr e n d .
O th e r s t r u c tu r e s ( $ 9 2 .6
b illio n )
B e n c h m a r k y e a r s . B E A ’s b e n c h m a r k in p u t- o u tp u t ta b le .
O t h e r y e a r s . C o n s t r u c tio n s p e n d in g (v a lu e p u t in p la c e ) fr o m C e n s u s
B u r e a u m o n th ly c o n s tr u c tio n s u rv e y .
S a m e a s th e a n n u a l e s tim a te s
fo r o t h e r y e a rs .
Nonresidential equipment and software ($1,023.5 billion)
E q u ip m e n t e x c e p t n e w
a u to s , n e w lig h t tr u c k s ,
a n d n e t p u rc h a s e s o f u s e d
a u to s a n d u s e d lig h t tr u c k s
( $ 6 9 6 . 6 b illio n )
B e n c h m a r k y e a r s . C o m m o d ity - flo w m e th o d , s ta r tin g w ith
m a n u fa c tu r e r s ’ s h ip m e n ts fr o m C e n s u s B u r e a u q u in q u e n n ia l c e n s u s
a n d in c lu d in g a n a d ju s tm e n t fo r e x p o r ts a n d im p o r ts fr o m C e n s u s
B u r e a u f o r e ig n t r a d e d a ta .
O th e r y e a r s . A b b r e v ia te d c o m m o d ity - flo w m e th o d , s t a r t in g w ith
m a n u fa c tu r e r s ’ s h ip m e n ts fr o m C e n s u s B u r e a u a n n u a l s u r v e y or, fo r
th e m o s t r e c e n t y e a r ( e x c e p t a ir c r a ft, c o m p u te r s , a n d h e a v y tr u c k s ) ,
m o n th ly s u r v e y o f m a n u fa c tu r e r s a n d in c lu d in g a n a d ju s tm e n t fo r
e x p o r ts a n d im p o r ts fr o m C e n s u s B u r e a u fo r e ig n tr a d e d a ta . F o r
a ir c r a ft, m a n u fa c tu r e r s ’ s h ip m e n ts fr o m C e n s u s B u r e a u c u r r e n t
in d u s tr ia l r e p o r t , a d ju s te d fo r e x p o r ts a n d im p o r ts . F o r c o m p u te r s ,
m a n u fa c tu r e r s ’ s h ip m e n ts fr o m F R B in d u s tr ia l p r o d u c t io n in d e x a n d
C e n s u s B u r e a u m o n th ly s u r v e y o f m a n u fa c tu r e r s , a d ju s te d fo r
e x p o r ts a n d im p o r ts . F o r h e a v y tr u c k s , p h y s ic a l q u a n tity p u r c h a s e d
tim e s a v e r a g e p r ic e : U n it s a le s a n d in fo r m a t io n to a llo c a te s a le s
a m o n g b u s in e s s a n d o t h e r p u r c h a s e r s , fr o m tr a d e s o u r c e s ; fo r tr u c k
tr a ile r s , s h ip m e n t s fr o m tr a d e s o u r c e .
S a m e a s th e a n n u a l e s tim a te s
fo r o t h e r y e a r s b u t w ith le s s
d e ta il.
N e w a u to s , n e w lig h t tr u c k s ,
a n d n e t p u rc h a s e s o f u s e d
a u to s a n d u s e d lig h t t r u c k s
( $ 9 9 .6 b illio n )
S e e th e e n tr ie s u n d e r p e r s o n a l c o n s u m p t io n e x p e n d itu r e s .
S e e th e e n tr ie s u n d e r p e r s o n a l
c o n s u m p t io n e x p e n d itu r e s .
See the footnotes at the end of the table.
14
S u m m a r y N IP A M e th o d o lo g ie s
N ovem ber 2 0 0 8
Table 1. Source Data and Methods for Current-Dollar GDP and Current-Dollar GDI—Continues
Com ponent
S o ftw a r e ( $ 2 2 7 . 3 b illio n )
A n n u a l e s tim a te s :
S o u r c e d a ta a n d m e th o d s u s e d to d e t e r m in e le v e l fo r b e n c h m a r k
a n d o th e r y e a r s o r u s e d to p r e p a r e a n e x tr a p o la to r o r in t e r p o la t o r
A d v a n c e q u a r t e r ly e s tim a te s :
S o u r c e d a ta a n d m e th o d s u s e d
to p r e p a r e a n e x tr a p o la to r
B e n c h m a r k y e a r s . F o r p u r c h a s e d s o ft w a r e , c o m m o d it y - f lo w m e th o d ,
s t a r t in g w ith in d u s t r y r e c e ip ts d a ta fr o m C e n s u s B u r e a u q u in q u e n n ia l
c e n s u s a n d in c lu d in g a n a d ju s tm e n t fo r e x p o r ts a n d im p o r ts fr o m
C e n s u s B u r e a u f o r e ig n tr a d e d a ta ; fo r o w n - a c c o u n t s o ftw a r e ,
p r o d u c t io n c o s ts b a s e d o n B L S e m p lo y m e n t d a ta a n d o n C e n s u s
B u r e a u q u in q u e n n ia l c e n s u s .
O th e r y e a r s . F o r p u r c h a s e d s o ftw a r e , c o m m o d it y - f lo w m e th o d , s ta r tin g
w ith in d u s t r y r e c e ip ts d a ta fr o m C e n s u s B u r e a u s e r v ic e a n n u a l
s u r v e y a n d in c lu d in g a n a d ju s tm e n t fo r e x p o r ts a n d im p o r ts fr o m
C e n s u s B u r e a u fo r e ig n tr a d e d a ta ; fo r o w n - a c c o u n t s o ftw a r e ,
p r o d u c t io n c o s ts b a s e d o n B L S e m p lo y m e n t d a ta .
F o r p u r c h a s e d s o ft w a r e ,
r e c e ip ts fr o m c o m p a n y r e p o r t s
to th e S e c u r it ie s a n d
E x c h a n g e C o m m is s io n ; fo r
o w n - a c c o u n t s o ft w a r e , p r iv a te
fix e d in v e s t m e n t in c o m p u te r s
a n d p e r ip h e r a l e q u ip m e n t.
Residential investment ($630.2 billion)4
P e r m a n e n t- s ite n e w s in g le C o n s t r u c tio n s p e n d in g ( v a lu e p u t in p la c e ) b a s e d o n p h a s e d h o u s in g
fa m ily h o u s in g u n its
s t a r t s a n d a v e r a g e c o n s tr u c tio n c o s t fr o m C e n s u s B u r e a u m o n th ly
( $ 3 0 5 . 2 b illio n )
c o n s tr u c tio n s u rv e y .
S a m e a s th e a n n u a l e s tim a te s .
P e r m a n e n t- s ite n e w m u lt i
fa m ily h o u s in g u n its
( $ 4 8 .2 b illio n )
C o n s t r u c tio n s p e n d in g ( v a lu e p u t in p la c e ) fr o m C e n s u s B u r e a u
m o n th ly c o n s tr u c tio n s u r v e y .
S a m e a s th e a n n u a l e s tim a te s .
M a n u fa c tu r e d h o m e s ($ 6 .1
b illio n )
B e n c h m a r k y e a r s . S e e th e e n tr y fo r “ E q u ip m e n t e x c e p t n e w a u to s ,
n e w lig h t tr u c k s , a n d n e t p u r c h a s e s o f u s e d a u to s a n d u s e d lig h t
tr u c k s ” u n d e r n o n r e s id e n tia l e q u ip m e n t a n d s o ftw a r e .
O th e r y e a r s . P h y s ic a l q u a n tity s h ip p e d t im e s p r ic e : S h ip m e n ts fr o m
tr a d e s o u r c e a n d a v e r a g e r e ta il p r ic e fr o m C e n s u s B u r e a u m o n th ly
s u rv e y .
S a m e a s th e a n n u a l e s tim a te s
fo r o t h e r y e a rs .
Im p r o v e m e n t s ( $ 1 7 4 . 9
b illio n )
B e n c h m a r k y e a rs . F o r 1 9 9 7 , C o n s t r u c tio n s p e n d in g ( v a lu e p u t in
p la c e ) fr o m C e n s u s B u r e a u c o n s tr u c tio n s u r v e y b a s e d o n
e x p e n d itu r e s b y o w n e r - o c c u p a n ts fr o m B L S q u a r t e r ly c o n s u m e r
e x p e n d itu r e s u r v e y a n d b y la n d lo r d s fr o m C e n s u s B u r e a u q u a r t e r ly
s u r v e y o f la n d lo r d s .
O th e r s y e a r s . A w e ig h te d 3 - y e a r m o v in g a v e r a g e o f th e im p r o v e m e n ts
e s tim a te s fr o m C e n s u s B u r e a u c o n s tr u c tio n s p e n d in g (v a lu e p u t in
p la c e ) c o n s tr u c tio n s u rv e y .
J u d g m e n ta l tr e n d .
B r o k e r s ’ c o m m is s io n s
( $ 8 6 .4 b illio n )
P h y s ic a l q u a n tity tim e s p r ic e tim e s B E A e s tim a te o f a v e r a g e
c o m m is s io n ra te : N u m b e r o f s in g le - fa m ily h o u s e s s o ld a n d m e a n
s a le s p r ic e fr o m C e n s u s B u r e a u m o n th ly c o n s tr u c tio n s u r v e y a n d
tr a d e s o u r c e .
S a m e a s th e a n n u a l e s tim a te s .
E q u ip m e n t ( $ 9 .5 b illio n )
S e e th e e n tr y fo r “ M o s t d u r a b le a n d n o n d u r a b le g o o d s ” u n d e r p e r s o n a l
c o n s u m p t io n e x p e n d itu r e s .
S a m e a s t h e a n n u a l e s tim a te s .
Change in private inventories (-$3.6 billion)
M a n u fa c tu r in g a n d tr a d e
( - $ 7 . 5 b illio n )
B e n c h m a r k y e a r s . I n v e n to r ie s fr o m C e n s u s B u r e a u q u in q u e n n ia l
c e n s u s r e v a lu e d to c u r r e n t r e p la c e m e n t c o s t, w ith in fo r m a t io n o n th e
p r o p o r t io n s o f in v e n to r ie s r e p o r t e d u s in g d iffe r e n t a c c o u n tin g
m e th o d s , o n th e c o m m o d it y c o m p o s itio n o f g o o d s h e ld in in v e n to ry ,
a n d o n th e t u r n o v e r p e r io d , a ll fr o m C e n s u s B u r e a u q u in q u e n n ia l
c e n s u s e s a n d a n n u a l s u r v e y s , c o m b in e d w ith p r ic e s , la r g e ly b a s e d
o n B L S p r o d u c e r p r ic e in d e x e s . ( T h e d iffe r e n c e b e tw e e n C e n s u s
B u r e a u c h a n g e in in v e n to r ie s a n d B E A c h a n g e in p r iv a te in v e n to r ie s
is th e in v e n to r y v a lu a tio n a d ju s tm e n t.)
O t h e r y e a r s e x c e p t th e m o s t r e c e n t y e a r. In v e n to r ie s fr o m C e n s u s
B u r e a u a n n u a l s u r v e y s , re v a lu e d a s d e s c r ib e d a b o v e .
M o s t r e c e n t y e a r. F o r r e ta il a u to d e a le r s , q u a n titie s tim e s a v e r a g e
p r ic e s fr o m tr a d e s o u r c e s ; fo r a ll o th e r, in v e n to r ie s fr o m C e n s u s
B u r e a u m o n th ly s u r v e y s , re v a lu e d a s d e s c r ib e d a b o v e .
S a m e a s th e a n n u a l e s tim a te
fo r th e m o s t r e c e n t y e a r.
M in in g , u tilitie s , c o n s tr u c tio n ,
a n d o t h e r n o n fa r m
in d u s tr ie s ( $ 2 .3 b illio n )
B e n c h m a r k y e a rs . M in in g a n d c o n s tr u c tio n in v e n to r ie s fr o m C e n s u s
B u r e a u q u in q u e n n ia l c e n s u s re v a lu e d to c u r r e n t r e p la c e m e n t c o s t a s
d e s c r ib e d a b o v e fo r m a n u fa c tu r in g a n d tr a d e .
O t h e r y e a r s e x c e p t th e m o s t r e c e n t. In te r n a l R e v e n u e S e r v ic e (IR S )
ta b u la tio n s o f b u s in e s s ta x r e tu r n s , re v a lu e d a s d e s c r ib e d a b o v e .
M o s t r e c e n t y e a r. C e n s u s B u r e a u q u a r t e r ly s u r v e y o f m in in g
c o r p o r a tio n s , m o n th ly p h y s ic a l q u a n titie s fr o m E IA c o m b in e d w ith
B L S p r o d u c e r p r ic e in d e x e s fo r e le c t r ic u tilitie s , a n d fo r a ll o th e r s ,
ju d g m e n t a l tr e n d , re v a lu e d a s d e s c r ib e d a b o v e ( e x c e p t w h e n n o te d
a s p h y s ic a l q u a n t it y tim e s p r ic e ) .
F o r e le c t r ic u tilitie s , s a m e a s th e
a n n u a l e s tim a te fo r th e m o s t
r e c e n t y e a r ; fo r a ll o th e r s ,
ju d g m e n t a l tr e n d .
See the footnotes at the end of the table.
November 2008
Survey of Current Business
15
Table 1. Source Data and Methods for Current-Dollar GDP and Current-Dollar GDI—Continues
A n n u a l e s tim a te s :
C o m p o n e n t
S o u rc e
a n d
F a rm
($ 1 .6
b illio n )
d a ta
a n d
o th e r y e a rs
U S D A
c h a n g e
C o r p o r a tio n
in
m e th o d s
o r
u s e d
u s e d
to
to
p re p a re
in v e n t o r ie s
a n
a d ju s te d
( C C C ) f o r fe itu r e s
a n d
A d v a n c e
d e te r m in e
S o u rc e
to
e x tr a p o la to r o r in t e r p o la t o r
to
to
le v e l f o r b e n c h m a r k
e x c lu d e
in c lu d e
C o m m o d ity
n e t C C C
m a r k e t v a lu e .
u s e d
e x tr a p o la to r
q u a r te r ly
o f U S D A
p r o je c tio n s
c a s h
e s tim a te s :
m e th o d s
a n
B E A
a llo c a tio n
a t
a n d
p re p a re
F o r c ro p s ,
C r e d it
lo a n s
q u a r te r ly
d a ta
o f c ro p
a n n u a l
o u tp u t a n d
r e c e ip ts ; fo r liv e s to c k ,
U S D A
q u a r te r ly
d a ta .
N e t e x p o r t s o f g o o d s a n d s e r v i c e s (-$707.8 billion)
E x p o rts
g o o d s ,
a n d
im p o r ts
o f
n e t (-$ 8 3 6 .0
b illio n )
E s tim a te d
a n d
a s
p a rt o f th e
a d ju s tm e n ts
a
b y
B E A
C e n s u s
d a ta
a n d
im p o r ts
o f
n e t ($ 1 2 8 .2
b illio n )
o f
B u re a u ,
fro m
E s tim a te d
th e
a s
a n d
tr a v e l,
fe e s ),
fro m
a d ju s te d
th e
re p o rts
q u a r te r ly
in c lu d e
b y
d a ta
a n d
fo r th e
P u e rto
c r e d it a g e n c ie s ,
u n d e r n e t in te r e s t m is c e lla n e o u s
in
to
d a ta
B u re a u
a n d
f o r e ig n
tra d e
ju d g m e n t a l tr e n d ; fo r
g o ld , ju d g m e n t a l t r e n d ; f o r a ll
o th e rs , s a m e
th e
a s
th e
a n n u a l
e s tim a te s .
th e
a d ju s te d
C e n s u s
w ith
a c c o u n ts :
th is
o n
F o r te r r it o r ia l a d ju s tm e n t,
F o r
ju d g m e n t a l t r e n d ; f o r a ll
th e ir
g ro u p
r o y a ltie s
( in c lu d in g
o th e rs ,
a n d
e s tim a te s .
( s u p p le m e n te d
s a m e
a s
th e
a n n u a l
b y
b a la n c e - o f- p a y m e n ts
R ic o
(s e e
fu r n is h e d
a n d
d a ta
s o u rc e s .
F e d e r a l a g e n c ie s
o r a n n u a l s u rv e y s
A d ju s te d
fro m
Is la n d s , a n d
tra d e
m o s t o th e rs
w ith
b a la n c e - o f- p a y m e n ts
tr a n s a c tio n s
a n d
F o r te r r ito r ia l a d ju s tm e n t,
E x p o rt
B u re a u
c o n v e rt th e
w ith
U .S . V ir g in
fin a n c ia l s e r v ic e s
fo r b a n k s ,
to
o th e r tr a n s p o r ta tio n , a n d
o f U .S . te r r ito r ie s
to
e n try
B E A
R ic o
o f g o ld
a b ro a d ; fo r
o th e r s o u rc e s ).
c o v e ra g e
R ic o , t h e
C e n s u s
in te r n a tio n a l tr a n s a c tio n s
p a s s e n g e r fa re s ,
lic e n s e
d a ta
s a le s
fo r th e
P u e rto
c o v e ra g e
p a rt o f th e
a n d
a n d
a c c o u n ts :
b y th e
v a lu a t io n
G e o lo g ic a l S u r v e y
g o v e r n m e n t t r a n s a c tio n s ,
p u rc h a s e s
a n d
b a s is . A d ju s t e d
P u e rto
U .S .
m o n th ly
fo r c o v e ra g e
o f U .S . te r r ito r ie s
C o m m o n w e a lth
s e r v ic e s ,
c o m p ile d
b a la n c e - o f- p a y m e n ts
c o v e ra g e
E x p o rts
in t e r n a t io n a l t r a n s a c t io n s
im p o r t d o c u m e n ts
th e
a b o v e
e n try );
w ith o u t p a y m e n t ( s e e
in v e s tm e n t c o m p a n ie s
p a y m e n ts ).
G o v e r n m e n t c o n s u m p t i o n e x p e n d i t u r e s a n d g r o s s i n v e s tm e n t ($2,674.8 billion)
F e d e ra l G o v e r n m e n t ($979.3 billion)
N a tio n a l d e fe n s e
c o n s u m p tio n
e x c e p t
o f g e n e ra l
g o v e r n m e n t fix e d
($ 5 8 5 .6
c a p ita l
W ith in
a
c o n tr o l to ta l e s ta b lis h e d
c o m p e n s a tio n ,
S ta t e s , c iv ilia n
m ilita r y
w a g e s
w a g e s
a n d
e m p lo y e e
th e
fro m
e n try
fro m
o u tla y s
th e
O ffic e
fro m
c o m p e n s a tio n
D e p a r tm e n t o f D e fe n s e
fo r s o ftw a re
fro m
u n d e r
b y
(D O D )
F o r
B u d g e t o f th e
e m p lo y e r c o n t r ib u t io n s
r e tir e m e n t p la n s
S ta te m e n t; fo r o th e r th a n
d a ta
O M B ’s
b e n e fits
M a n a g e m e n t (O P M ), a n d
b illio n )
b y fis c a l y e a r a n a ly s is :
fro m
b a s e d
c iv ilia n
T re a s u ry
m a in ly
o n
s o ftw a re .
c o n s u m p tio n
o f g e n e ra l
g o v e r n m e n t f ix e d
($ 7 6 .6
o n
a t c u r r e n t c o s t,
a s th e
fo r s o ftw a re ,
s o ftw a re
o n
g ro s s
S a m e
a s
B L S ;
a n n u a l e s tim a te s ;
s e e
th e
e n try
fo r
u n d e r n o n r e s id e n tia l
th e
s o ftw a re .
a n n u a l e s tim a te s .
in v e s t m e n t p r ic e s .
c a p ita l
e x c e p t
c o n s u m p tio n
W ith in
o f g e n e ra l
g o v e r n m e n t fix e d
c a p ita l
b illio n )
a
c o n tr o l to ta l e s ta b lis h e d
in v e n to r y
c h a n g e , b o o k v a lu e s
o f d is p o s itio n s fr o m
a g e n c y
b y fis c a l y e a r a n a ly s is :
o f a c q u is itio n s
re p o rts
U S D A ; fo r c o m p e n s a tio n , c iv ilia n
e m p lo y e r c o n t r ib u t io n s
o u tla y s
fro m
d is tr ib u tio n
re s e a rc h
p u t in
p r ic e
d a ta
tim e s
w a g e s
a v e ra g e
a n d
F e d e r a l e m p lo y e e
fro m
d is b u r s e m e n ts
p la c e ) fr o m
s e e
th e
C e n s u s
e n try
th e
th e
fro m
fo r
b a n k s ,
n e t in te r e s t a n d
c o n s u m p tio n
o f g e n e ra l g o v e rn m e n t
c a p ita l ( $ 2 8 .9
b illio n )
Seethefootnotesat theendof thetable.
m a r k e t p r ic e s fr o m
fro m
b e n e fits
c r e d it a g e n c ie s , a n d
m is c e lla n e o u s
P e r p e tu a l- in v e n to r y
in v e s t m e n t a n d
o n
fro m
O P M
r e tir e m e n t p la n s
c a lc u la tio n s
a n d
fro m
s a le s ,
th e
c o n s tr u c tio n
B L S ; fo r s o ftw a re ,
e n try
fo r s o ftw a re
s e e
u n d e r
n o n r e s id e n tia l e q u ip m e n t a n d
s o ftw a re ; fo r o th e r th a n
c o m p e n s a tio n
s a m e
N a tio n a l S c ie n c e
s p e n d in g
th e
o f
e m p lo y m e n t
a s
th e
a n d
s o ftw a re ,
a n n u a l e s tim a te s .
a n d
( v a lu e
s u rv e y ; fo r
u n d e r n o n r e s id e n tia l e q u ip m e n t
fro m
th e
S ta t e m e n t . F o r fin a n c ia l s e r v ic e s f u r n is h e d
N o n d e fe n s e
c o m p e n s a tio n ,
N a tio n a l A e r o n a u t ic s
m o n th ly
fo r s o ftw a re
o u tla y s
F o r c o m p o n e n ts
D e p a r tm e n t o f E n e rg y ; fo r
fro m
B u re a u
s o f t w a r e ; f o r a ll o t h e r s ,
e n try
F o r C C C
p h y s ic a l q u a n titie s
T r e a s u r y S t a t e m e n t ; fo r p e tr o le u m
d e v e lo p m e n t, o b lig a tio n s
a n d
a n d
A d m in is tr a tio n ; fo r c o n s tr u c tio n , c o n s t r u c t io n
s o ftw a re ,
a n d
a n d
fo r
M o n th ly
th e
a n d
F o u n d a tio n
S p a c e
fix e d
b a s e d
a n d
b illio n )
N o n d e fe n s e
($ 2 8 8 .3
in v e s t m e n t a n d
c a lc u la tio n s
D O D
c o m p e n s a tio n ,
e q u ip m e n t a n d
P e r p e tu a l- in v e n to r y
N a tio n a l d e fe n s e
m ilita r y
e m p lo y m e n t fr o m
fo r o th e r th a n
s a m e
re p o rts ; fo r s o ftw a re , s e e
n o n r e s id e n tia l e q u ip m e n t a n d
o f
e m p lo y m e n t fr o m
F e d e ra l
M o n th ly
ty p e ,
c o m p e n s a tio n ,
o f P e rs o n n e l
fo r
th e
F o r c o m p o n e n ts
U n it e d
M o n th ly
T re a s u ry
w ith o u t p a y m e n t, s e e
in v e s tm e n t c o m p a n ie s
th e
u n d e r
p a y m e n ts .
a t c u r r e n t c o s t,
in v e s t m e n t p r ic e s .
b a s e d
o n
g ro s s
S a m e
a s
th e
a n n u a l e s tim a te s .
16
S u m m a r y N IP A M e th o d o lo g ie s
N ovem ber
2008
Table 1. Source Data and Methods for Current-Dollar GDP and Current-Dollar GDI—Continues
Annual estimates:
Source data and methods used to determine level for benchmark
and other years or used to prepare an extrapolator or interpolator
Component
Advance quarterly estimates:
Source data and methods used
to prepare an extrapolator
S ta te a n d lo c a l g o v e r n m e n t ($1,695.5 billion)
C o n s u m p tio n
a n d
g ro s s
e x p e n d itu r e s
in v e s t m e n t
e x c e p t th o s e
b e lo w
ite m s
($ 2 8 9 .2
lis t e d
b illio n )
A ll y e a r s
e x c e p t th e
C e n s u s
a n d
B u re a u
a p p r o p r ia te
c o v e ra g e ; fo r
a
fro m
ite m s
n o t d ir e c tly
C o m p e n s a tio n
o f g e n e ra l
g o v e r n m e n t e m p lo y e e s
($ 9 6 3 .1
3
F o r w a g e s
a n d
in
s o u rc e
d a ta
f o llo w s :
F o r
d iffe r e n c e s ; t o
G D P
( in te r e s t,
a
J u d g m e n ta l tre n d .
th a t a re
c a le n d a r y e a r
d iffe r e n c e s ; to
s u b s id ie s ,
e x c lu d e
n e t
b e lo w .
B L S
ta b u la tio n s
fo r g o v e r n m e n t s o c ia l
A d m in is tr a tio n
a n d
a n d
fro m
th e
o t h e r a g e n c ie s
in s u r a n c e
fu n d s , d a ta
M e d ic a id
fro m
tra d e
lo c a l g o v e r n m e n t r e t ir e m e n t f u n d s ,
fro m
a
o f s ta te
fro m
a
S e r v ic e s ,
C e n s u s
fis c a l y e a r b a s is ,
a n d
fo r e m p lo y e r
a n d
C e n te rs
to
B u re a u
lo c a l g o v e r n m e n t s , a d ju s t e d
to
a
a
a n d
B L S
s a la r ie s , d e r iv e d
m o n th ly
e m p lo y m e n t tim e s
fro m
B L S
e a r n in g s
e m p lo y m e n t c o s t
in d e x ; f o r o t h e r c o m p e n s a t io n ,
fo r
a n n u a l s u rv e y s
a d ju s te d
F o r w a g e s
fro m
th e
fo r e m p lo y e e
s o u rc e s ,
B u re a u
C e n s u s
fro m
a d m in is te r in g
p r o g r a m s ; fo r e m p lo y e r c o n tr ib u tio n s
s ta te
a n d
Q C E W
in s u r a n c e , ta b u la tio n s
o f
ju d g m e n t a l tr e n d .
c a le n d a r
a n n u a l
c a le n d a r y e a r
f is c a l y e a r b a s is .
P e r p e tu a l- in v e n to r y
in v e s tm e n t a n d
c a lc u la tio n s
o n
a t c u rre n t c o s t,
b a s e d
g ro s s
S a m e
a s
th e
a n n u a l e s tim a te s .
B u re a u
S a m e
a s
th e
a n n u a l e s tim a te s .
S a m e
a s
th e
a n n u a l e s tim a te s .
S a m e
a s
th e
a n n u a l e s tim a te s .
o n
in v e s t m e n t p r ic e s .
b illio n )
S tru c tu re s
($ 2 8 1 .0
b illio n )
C o n s tr u c tio n
m o n th ly
S o ftw a re
a s
a n d
b a s is
($ 1 3 5 .9
w ith
a d ju s te d
M e d ic a r e
s u rv e y s
c a p ita l
g r o s s in g
d e s c r ib e d
s a la r ie s ,
c o n tr ib u tio n s
y e a r b a s is
o f g e n e ra l
r e p la c e d
a n d
fro m
o f s ta te
m o s t re c e n t y e a rs . J u d g m e n ta l tre n d .
p e n s io n
g o v e r n m e n t fix e d
a n n u a l s u rv e y s
o f g o v e r n m e n t e n te r p r is e s , a n d tr a n s f e r p a y m e n ts ) ; a n d
s o c ia l in s u r a n c e
C o n s u m p tio n
a n d
in c lu d e d
ite m s
S o c ia l S e c u r it y
b illio n )
N IP A s
a n d
fis c a l y e a r b a s is ; fo r o t h e r t im in g
e x p e n d itu r e s
e x c lu d e
fo r th e
n e ttin g
b a s is
T h e
m o s t r e c e n t y e a r s . T o ta l e x p e n d itu r e s
lo c a l g o v e r n m e n t s , s e le c t iv e ly
m o re
to
3
q u in q u e n n ia l c e n s u s
($ 1 3 .0
b illio n )
S e e
th e
s p e n d in g
c o n s tr u c tio n
e n try
( v a lu e
p u t in
p la c e ) fr o m
C e n s u s
s u rv e y .
fo r s o ftw a re
u n d e r n o n r e s id e n tia l e q u ip m e n t a n d
s o ftw a re .
B ro k e ra g e
c h a rg e s
a n d
fin a n c ia l s e r v ic e s
f u r n is h e d
S e e
th e
e n tr ie s
fo r b ro k e ra g e
c h a rg e s
a n d
fin a n c ia l s e r v ic e s
w it h o u t p a y m e n t u n d e r p e r s o n a l c o n s u m p tio n
fu r n is h e d
e x p e n d itu r e s .
w ith o u t
p a y m e n t ($ 1 3 .3
b illio n )
G r o s s d o m e s t i c i n c o m e o f $ 1 3 ,8 8 9 .0 b illio n f o r 2 0 0 7
C o m p e n s a t i o n o f e m p l o y e e s , p a id ($7,819.4 billion)5
W a g e a n d s a la r y a c c r u a l s ($6,362.8 billion).
P r iv a te
in d u s t r ie s
($ 5 ,2 8 7 .5
b illio n )
F o r m o s t in d u s tr ie s ,
w a g e s
fro m
R a ilr o a d
a
B L S
v a r ie ty
ta b u la tio n s
o f s o u rc e s
R e tir e m e n t B o a r d
u n d e r s ta te m e n t o f in c o m e
fro m
(s u c h
fo r r a ilr o a d
o n
ta x
th e
a s
Q C E W ; fo r o th e rs ,
U S D A
fo r fa rm s
tr a n s p o r ta tio n ) ,
re tu rn s
a n d
a n d
F o r m o s t in d u s tr ie s , w a g e s
th e
a d ju s te d
fo r
fo r c o v e ra g e
d iffe r e n c e s .
F e d e ra l G o v e rn m e n t
($ 2 8 2 .5
b illio n )
d e r iv e d
m o n th ly
e m p lo y m e n t tim e s
e a r n in g s
tim e s
fro m
a n d
s a la r ie s
h o u rs ;
B L S
fo r
o th e r s , ju d g m e n ta l tr e n d .
F o r c iv ilia n s , w a g e s
p e r s o n n e l, w a g e s
fro m
B L S
fro m
ta b u la tio n s
fro m
B u d g e t o f th e
O M B ’s
th e
Q C E W ; fo r
m ilita r y
U n it e d S ta te s .
F o r c iv ilia n s ,
B L S
a n d
m ilita r y
e m p lo y m e n t fr o m
ju d g m e n ta l tr e n d ; fo r
p e r s o n n e l,
e m p lo y m e n t a n d
D O D
ju d g m e n ta l
tre n d .
S ta te
a n d
B L S
lo c a l
g o v e rn m e n ts
ta b u la tio n s
fro m
th e
Q C E W .
D e r iv e d
fro m
B L S
b illio n )
fro m
B L S
in d e x .
h e a lth
($ 5 3 2 .1
in s u r a n c e
b illio n )
A ll y e a r s
e x c e p t th e
2
m o s t re c e n t y e a rs .
lo c a l g o v e r n m e n t s , t o t a l c o n t r ib u t io n s
a n d
M e d ic a id
S e r v ic e s
c o n s u m e r e x p e n d itu r e
T h e
(C M S )
a n d
e m p lo y e e
a n d
C e n te rs
s ta te
fo r
c o n tr ib u tio n s
F o r p r iv a te ,
p r e lim in a r y
lo c a l g o v e r n m e n t s , ju d g m e n t a l t r e n d .
M o s t re c e n t y e a r. J u d g m e n ta l tre n d .
Seethefootnotesat theendof thetable.
th e
a n d
M e d ic a r e
fro m
B L S
s u rv e y .
2 nd m o s t r e c e n t y e a r .
s ta te
le s s
F o r p r iv a te
fro m
C M S
ta b u la tio n s ; fo r
e a r n in g s
e m p lo y m e n t c o s t
E m p lo y e r c o n tr ib u tio n s fo r e m p lo y e e p e n s io n a n d in s u r a n c e f u n d s ($991.9 billion)
G ro u p
m o n th ly
e m p lo y m e n t tim e s
($ 7 9 2 .7
J u d g m e n ta l tre n d .
November 2008
17
Survey of Current Business
Table 1. Source Data and Methods for Current-Dollar GDP and Current-Dollar GDI—Continues
A d v a n c e
A n n u a l e s tim a te s :
S o u rc e
C o m p o n e n t
a n d
P r iv a te
p e n s io n
s h a r in g
fu n d s
a n d
p r o fit-
($ 1 9 9 .9
b illio n )
d a ta
o th e r y e a rs
A ll y e a r s
2
b illio n )
2
u s e d
to
to
d e te r m in e
p re p a re
a n
le v e l f o r b e n c h m a r k
e x tr a p o la to r o r
m o s t r e c e n t. T a b u la tio n s fr o m
m o s t re c e n t y e a rs .
/.II y e a r s
($ 1 8 3 .7
o r u s e d
e x c e p t th e
G u a ra n ty
r e tir e m e n t p la n s
m e th o d s
in te r p o la to r
th e
D e p a rtm e n t o f
C o r p o r a tio n
e x c e p t th e
M o n th ly
th e
p la n s ,
T a b u la tio n s
a n d
fro m
c o rp o ra te
th e
m o s t re c e n t y e a r.
C e n s u s
B u re a u
a n n u a l s u rv e y s
a d ju s te d
to
a
P e n s io n
a n d
o u tla y s
fro m
p re p a re
e s tim a te s :
m e th o d s
a n
u s e d
e x tr a p o la to r
J u d g m e n ta l tre n d .
o f s ta te
a n d
c a le n d a r y e a r b a s is
re c e n t; fo r s ta te
a n d
r e tir e m e n t fu n d s , a d ju s te d
a
th e
m o s t
lo c a l g o v e r n m e n t
re c e n t y e a r; fo r s ta te
fro m
g o v e r n m e n t p la n s , ju d g m e n t a l
a
fis c a l y e a r
a n d
lo c a l
o f s ta te
a ll y e a r s
e x c e p t th e
lo c a l g o v e r n m e n t p la n s , C e n s u s
to
a
B u re a u
m o s t
a n n u a l
c a le n d a r y e a r b a s is
f is c a l y e a r b a s is .
A ll y e a r s
tra d e
a s
fo r th e
tre n d .
a s
s u rv e y s
fro m
F o r F e d e r a l p la n s , s a m e
a n n u a l e s tim a te
lo c a l g o v e r n m e n t
b a s is .
b illio n )
a n d
B e n e fit
F o r F e d e r a l p la n s ,
M o s t r e c e n t y e a r . F o r F e d e r a l p la n s , s a m e
($ 5 7 .2
to
q u a r te r ly
d a ta
f in a n c ia l d a ta .
T re a s u r y S ta te m e n t; fo r s ta te
r e tir e m e n t fu n d s ,
W o r k e r s ’ c o m p e n s a tio n
S o u rc e
L a b o r.
T h e
G o v e r n m e n t e m p lo y e e
a n d
e x c e p t th e
m o s t re c e n t y e a r.
E m p lo y e r c o n t r ib u t io n s
fro m
J u d g m e n ta l tre n d .
s o u rc e s .
M o s t r e c e n t y e a r. J u d g m e n ta l tre n d .
G ro u p
life
in s u r a n c e
($ 1 7 .3
A ll y e a r s
e x c e p t th e
m o s t re c e n t y e a r. G ro u p
o f e m p lo y e r s h a r e
b illio n )
fro m
tra d e
p r e m iu m s
a n d
e s tim a te s
J u d g m e n ta l tre n d .
s o u rc e s .
M o s t r e c e n t y e a r. J u d g m e n ta l tre n d .
E m p lo y e r c o n t r ib u t io n s
fo r
g o v e r n m e n t s o c ia l
in s u r a n c e
($ 4 6 4 .7
T a b u la tio n s fr o m
th e
a d m in is te r in g
s o c ia l
S o c ia l S e c u r ity A d m in is tr a tio n
in s u r a n c e
a n d
o t h e r a g e n c ie s
p ro g ra m s .
F o r F e d e ra l p ro g ra m s ,
d e r iv e d
w a g e s
e m p lo y e e s
b illio n )
a n d
B E A -
s a la r ie s
c o v e re d
b y
p ro g ra m s ; fo r s ta te
o f
th e
a n d
lo c a l
g o v e rn m e n t p ro g ra m s ,
ju d g m e n t a l tr e n d .
T a x e s o n p r o d u c t i o n a n d i m p o r t s ($1,015.5 billion)
F e d e ra l G o v e rn m e n t ($ 9 7 .7
b illio n )
F o r e x c is e
ta x e s , c o lle c tio n s
A lc o h o l a n d
c u s to m s
T o b a c c o
d u tie s ,
fro m
ta x
a n d
r e c e ip ts
fro m
th e
O ffic e
T ra d e
M o n th ly
th e
o f T a x
B u re a u ,
a n d
A n a ly s is , fr o m
fro m
th e
th e
IR S ; fo r
T re a s u r y S ta te m e n t.
F o r c u s to m s
fro m
d u tie s ,
M o n th ly
th e
r e c e ip ts
T re a s u ry
S t a t e m e n t ; fo r m o s t e x c is e
ta x e s , d e r iv e d
o f a c tiv ity
fro m
(s u c h
p r o d u c tio n
in d ic a t o r s
a s
g a s o lin e
fo r g a s o lin e
ta x );
fo r o th e r s , ju d g m e n ta l tre n d .
S ta te
a n d
($ 9 1 7 .8
lo c a l g o v e r n m e n ts
b illio n )
R e c e ip ts
fro m
s u rv e y s ,
C e n s u s
a d ju s te d
to
B u re a u
a
q u in q u e n n ia l c e n s u s
c a le n d a r y e a r b a s is
fro m
a
a n d
a n n u a l
J u d g m e n ta l tre n d .
fis c a l y e a r b a s is .
L e s s : S u b s i d i e s ($52.3 billion)
F e d e ra l G o v e rn m e n t ($ 4 5 .2
b illio n )
S ta te
a n d
($ 7 .1
P a y m e n ts
b y
a g e n c ie s ,
lo c a l g o v e r n m e n ts
b illio n )
F o r r a ilr o a d
th e
a n d
e x p e n d itu r e s
b a s is
a n d
C C C
o u tla y s
fro m
fro m
e le c tr ic
a d ju s te d
C a lifo r n ia
a g e n c y
p o w e r,
to
re p o rts
M o n th ly
th e
a
a n d , fo r m o s t o th e r
C e n s u s
B u re a u
fro m
a
re p o rts
a n d
ju d g m e n ta l
tre n d .
a n n u a l s u rv e y s
c a le n d a r y e a r b a s is
a d m in is tr a tiv e
C C C
T re a s u r y S ta te m e n t.
o f
J u d g m e n ta l tre n d
fis c a l y e a r
a d m in is tr a tiv e
a n d
C a lifo r n ia
re c o rd s .
re c o rd s .
N e t o p e r a t i n g s u r p l u s ($3,386.0 billion)
P r iv a te e n t e r p r i s e s ($3,393.9 billion)
N et in te r e s t a n d m is c e lla n e o u s p a y m e n ts ($899.6 billion)6
D o m e s tic
in te r e s t,
m o n e ta ry
n e t ($ 3 7 3 .4
b illio n )
A ll y e a r s
e x c e p t th e
s u rv e y s ; fo r
d e c e n n ia l s u r v e y
tim e s
b y
a
B E A
b u s in e s s ,
m is r e p o r tin g
IR S
o n
ta b u la tio n s
re tu rn s
a n d
F o r fa rm
o f b u s in e s s
a n d
in t e r e s t p a id ,
C e n s u s
m o rtg a g e
a n d
fro m
In s u ra n c e
C o r p o r a tio n ) , fr o m
r e g u la to r y
in te r e s t r a te s
a c c o u n ts .
to
ta x
re tu rn s ,
U S D A
d e b t fro m
a n d
F R B
r e c e iv e d
a d ju s te d
m o rtg a g e
a g e n c ie s
tra d e
in t e r e s t p a id ,
in te r e s t,
(s u c h
a s
s o u rc e s ,
fo r
in t e r e s t - b e a r in g
th e
s a m e
a s s e ts /lia b ilitie s
fro m
p e rs o n s ,
a s
a ll
a n d
a p p ly in g
(3 )
F R B
flo w -
r e c e iv e d ,
b y
(2 ), d a ta
fro m
th e
T re a s u ry S ta te m e n t
B u re a u
D e b t fo r
o f th e
P u b lic
F e d e ra l a n d
ju d g m e n t a l t r e n d
lo c a l;
b y
F o r ( 1 ) , ju d g m e n t a l
M o n th ly
th e
le s s
in t e r e s t p a id
tre n d ; fo r
a n d
e s tim a te s
(2 ) g o v e rn m e n t
in te r e s t p a id
a n d
F e d e r a l D e p o s it
b y
b y c o m b in in g
in te r e s t r e c e iv e d
p e rs o n s .
in t e r e s t r e c e ip t s
o r d e r iv e d
D e r iv e d
o f (1 )
B u re a u
fo r c o n c e p tu a l d iffe r e n c e s .
m o s t re c e n t; fo r o th e r
p a y m e n ts
B E A
F o r fa rm
in t e r e s t p a id ,
o f r e s id e n tia l fin a n c e
ta x
e x c e p t th e
o f-fu n d s
Seethefootnotesat theendof thetable.
m o rtg a g e
in t e r e s t r a te ; f o r m o s t o t h e r in t e r e s t p a id
M o s t re c e n t y e a r.
y e a rs
m o s t re c e n t y e a r.
r e s id e n tia l
a n d
fo r
fo r s ta te
a n d
(3 ), c o n s u m e r
d e b t fro m
F R B
e s tim a te s
o f in t e r e s t r a te s .
tim e s
B E A
18
S um m ary NIPA M ethodologies
November 2008
T ab le 1. S o u r c e D ata a n d M e th o d s fo r C u rre n t-D o lla r G D P a n d C u rre n t-D o lla r GDI— C ontinues
Annual estimates:
Source data and methods used to determine level for benchmark
and other years or used to prepare an extrapolator or interpolator
Component
D o m e s tic
Advance quarterly estimates:
Source data and methods used
to prepare an extrapolator
im p u te d
in te r e s t,
n e t ($ 5 0 6 .2
b illio n )
B a n k s ,
a n d
c r e d it a g e n c ie s ,
in v e s t m e n t
c o m p a n ie s
($ 2 5 0 .3
b illio n )
D e p o s ito r s e r v ic e s
($ 2 2 1 .7
b illio n )
F o r c o m m e r c ia l b a n k s , d a ta
E x a m in a tio n
s p re a d
ra te
b e tw e e n
p a id
to
a
r is k - fr e e
d e p o s ito r s
D e p o s ito r s e r v ic e s
a llo c a te d
b a s is
w o r ld
o n
th e
e a rn e d
o n
(a n d
o f b u s in e s s
to
($ 2 8 .5
b illio n )
F R B .
th e
in s u r a n c e
a n d
in s u r a n c e
($ 7 .9
c a r r ie r s
b illio n )
P ro p e rty
ta x
b e tw e e n
P ro p e rty
tra d e
c a s u a lty
c o m p a n ie s
re tu rn s )
w o r ld
th e
fro m
in c o m e
th e
le s s
o n
th e
b a s is
fro m
th e
to
e a rn e d
ra te
o n
a n d
fro m
p a id
b y
th e
re s t
in c o m e
IR S
to
ta b u la tio n s
o f r e g u la to r y
ta b u la tio n s
a g e n c ie s
g o v e rn m e n t,
fro m
a n d
F R B .
o f F e d e r a l F in a n c ia l
c a lc u la te
th e
b o rro w e rs
b a la n c e
to
in te r e s t p a id
p e rs o n s ,
to
in t e r e s t
F R B .
o f d e p o s it lia b ilitie s
F R B
a v e ra g e
a v e ra g e
p ro p e rty
p r o fits
J u d g m e n ta l tre n d .
in te r e s t ra te
o f d e p o s its .
fro m
m o n e ta ry
a llo c a te d
th e
g o v e rn m e n t,
a n n u a l re p o rts
a v e ra g e
tim e s
a n d
b a la n c e
p e rs o n s ,
C a ll R e p o r ts u s e d
C o u n c il
ra te
ra te
a v e ra g e
o f F e d e r a l F in a n c ia l
c a lc u la te
in v e s tm e n t c o m p a n ie s ,
F o r c o m m e r c ia l b a n k s , d a ta
re fe re n c e
($ 2 4 8 .0
to
to
o f d e p o s it lia b ilit ie s
D e p o s ito r s e r v ic e s
E x a m in a tio n
ta b u la tio n s
fo r m u tu a l d e p o s ito r ie s ,
re s t o f th e
s p re a d
L ife
a n d
th e
in v e s t m e n t o f d e p o s it s
d e p o s ito r s
a n d
F R B
re fe re n c e
tim e s
o f th e
F o r c r e d it a g e n c ie s
B o r r o w e r s e r v ic e s
fro m
C a ll R e p o r t s u s e d
C o u n c il
J u d g m e n ta l tre n d .
in te r e s t ra te
a n d
th e
o f b o rro w e rs .
in v e s t m e n t o f p o lic y h o ld e r s ’ r e s e r v e s
fro m
J u d g m e n ta l tre n d .
s o u rc e .
E x p e c te d
in v e s tm e n t in c o m e
in v e s tm e n t g a in s
fro m
d e r iv e d
tra d e
u s in g
in c u r r e d
lo s s e s
a n d
p e rs o n s
fo r
J u d g m e n ta l tre n d .
s o u rc e .
b illio n )
B u s i n e s s c u r r e n t tr a n s f e r p a y m e n ts (n e t) ($ 100.2 billion)
T o
p e rs o n s
(n e t)
($ 3 1 .9
b illio n )
A ll y e a r s
e x c e p t th e
c h a r ita b le
m o s t re c e n t y e a r.
c o n tr ib u tio n s ,
o th e r c o m p o n e n ts
n e t in s u r a n c e
re p o rts
a n d
IR S
(s u c h
a s
s e ttle m e n ts ) ,
tra d e
P a y m e n ts
ta b u la tio n s
lia b ility
p a y m e n ts
in f o r m a t io n
to
o f b u s in e s s
fro m
ta x
J u d g m e n ta l tre n d .
re tu rn s ;
fo r
fo r p e r s o n a l in ju r y
a n d
g o v e rn m e n t a g e n c y
s o u rc e s .
M o s t re c e n t y e a r. J u d g m e n ta l tre n d .
T o
g o v e r n m e n t (n e t)
($ 6 1 .4
b illio n )
F o r F e d e r a l,
a n d
lo c a l,
r e c e ip ts
r e c e ip ts
fro m
O M B ’s
fro m
C e n s u s
a n n u a l s u r v e y s , a d ju s te d
b a s is
T o
th e
(n e t)
re s t o f th e
($ 6 .9
w o r ld
a n d
E s tim a te d
n e t in s u r a n c e
a s
p a rt o f th e
to
a
B u d g e t o f th e
B u re a u
U n it e d S ta t e s ; fo r s ta te
q u in q u e n n ia l c e n s u s
c a le n d a r y e a r b a s is
s e ttle m e n ts ,
a s
d e s c r ib e d
in t e r n a tio n a l t r a n s a c t io n s
fro m
a
J u d g m e n ta l tre n d .
a n d
fis c a l y e a r
a b o v e .
S a m e
a c c o u n ts .
a s
th e
a n n u a l e s tim a te s .
b illio n )
P r o p r ie to r s ’ in c o m e w ith in v e n to ry v a lu a tio n a d ju s tm e n t (IVA) a n d c a p ita l c o n s u m p tio n a d ju s tm e n t
(C C A dj) ($ 1 ,0 5 6 .2 billion)
F a rm
w ith
p r o p r ie to r s ’ in c o m e
IV A
($ 5 1 .5
b illio n )
U S D A
d a ta
r e c e ip ts
o n
fro m
o th e r c a s h
U S D A
m a r k e tin g ,
in c o m e ,
p r o d u c tio n
o n
n e t in c o m e ,
a n d
o b ta in e d
b y
in v e n t o r y
n o n m o n e y
e x p e n s e s , a d ju s te d
q u in q u e n n ia l c e n s u s
to
d e r iv in g
c h a n g e ,
in c o m e )
e x c lu d e
a n d
g ro s s
in c o m e
(c a s h
F o r c ro p s ,
a n d
s u b tr a c tin g
c o rp o ra te
a n n u a l s u rv e y
in c o m e
B E A
a llo c a t io n
g o v e rn m e n t p a y m e n ts ,
p r o je c tio n s
liv e s to c k ,
b a s e d
d a ta .
(-$ 7 .5
N o n fa rm
in c o m e
S e e
th e
e n try
“ L e s s : C a p ita l c o n s u m p tio n
c o n s u m p tio n
o f fix e d
liv e s t o c k ,
p r o p r ie to r s ’
($ 8 9 3 .5
b illio n )
A ll y e a r s
e x c e p t th e
b u s in e s s
re tu rn s
a c tiv ity
o f U S D A
a n n u a l
o f g o v e rn m e n t
p a y m e n ts
a n d
e x p e n s e s .
a d ju s tm e n t” u n d e r
c a p ita l.
ta x
a n d
m o s t re c e n t y e a r.
r e tu r n s , a d ju s te d
fo r
In c o m e
fro m
IR S
ta b u la tio n s
u n d e r s ta te m e n t o f in c o m e
o n
p r o p r ie to r s ’
w ith
IV A
(-$ 6 .8
b illio n )
Seethefootnotesat theendof thetable.
S e e
th e
p r o fits .
(s u c h
e n try
o f
ta x
fo r c o n c e p tu a l d iffe r e n c e s .
a s
F o r c o n s tr u c tio n , tr a d e ,
a n d
v a lu e
p la c e ) ; fo r
o f h o u s in g
p u t in
s e r v ic e s ,
in d ic a to r s
m o s t o th e rs ,
ju d g m e n ta l tr e n d .
in c o m e
c ro p s
q u a r te r ly
b illio n )
M o s t re c e n t y e a r.
N o n fa rm
r e c e ip ts
a n d
p r o d u c tio n
C C A d j
q u a r te r ly
o f c a s h
in v e n to r ie s ; f o r b o th
s u b s id y
p r o p r ie t o r s ’ in c o m e
a n n u a l
o u tp u t; fo r
a n d
p r o je c tio n s
w ith
o f c ro p
U S D A
p r o je c tio n s
a llo c a tio n
F a rm
q u a r te r ly
o f U S D A
fo r in v e n to r y
v a lu a tio n
a d ju s tm e n t u n d e r c o r p o r a te
o f
S a m e
a s
fo r th e
th e
a n n u a l e s tim a te
m o s t re c e n t y e a r.
N ovem ber 2 0 0 8
19
S urvey of C urrent B usiness
T able 1. S o u r c e D ata a n d M e th o d s fo r C u rre n t-D o lla r G D P a n d C u rre n t-D o lla r GDI— C ontinues
A n n u a l e s tim a te s :
C o m p o n e n t
S o u rc e
a n d
N o n fa rm
in c o m e
($ 1 2 5 .5
p r o p r ie to r s ’
w ith
C C A d j
S e e
d a ta
a n d
o th e r y e a rs
th e
e n try
m e th o d s
o r
u s e d
u s e d
to
to
p re p a re
a n
o f fix e d
le v e l f o r b e n c h m a r k
e x tr a p o la to r o r in te r p o la to r
“ L e s s : C a p ita l c o n s u m p tio n
c o n s u m p tio n
A d v a n c e
d e te r m in e
S o u rc e
to
q u a r te r ly
d a ta
a n d
p re p a re
e s tim a te s :
m e th o d s
a n
u s e d
e x tr a p o la to r
a d ju s tm e n t” u n d e r
c a p ita l.
b illio n )
R e n ta l in c o m e o f p e r s o n s w ith c a p ita l c o n s u m p tio n a d ju s tm e n t ($40.0 billion)
O w n e r - o c c u p ie d
h o u s in g
n o n fa rm
(-$ 2 3 .8
b illio n )
B e n c h m a rk
y e a rs .
d w e llin g s
e x p e n s e s ,
in c lu d in g
m o rtg a g e
s u rv e y
T e n a n t- o c c u p ie d
h o u s in g
($ 2 7 .4
n o n fa rm
b illio n )
s p a c e
re n t (s e e
in s u r a n c e
p ro p e rty
th e
e n try
e x p e n d itu r e s )
fro m
ta x e s fro m
tra d e
fo r n o n fa rm
le s s
s a m e
a n d
fo r d e p r e c ia tio n ,
s o u rc e
C e n s u s
o n
S a m e
a s
B u re a u
d e c e n n ia l
d e b t fro m
fro m
C e n s u s
y e a rs ,
F R B
e x c e p t m o rtg a g e
tim e s
B u re a u
a
B E A
in t e r e s t ,
in te r e s t ra te , a n d
a n n u a l s u rv e y s
o f s ta te
a n d
lo c a l
c o lle c tio n s .
S a m e
a s
e s ta te
c lo s in g
s p a c e
re n t,
a n n u a l e s tim a te s ;
c o s ts ,
in t e r e s t ,
re a l e s ta te
ta x e s ,
b a s e d
e s tim a te s
o n
N IP A
o f th o s e
c o m p o n e n ts ; fo r o th e r
e x p e n s e s , ju d g m e n ta l tr e n d .
o w n e r - o c c u p ie d
r e n ta l in c o m e
a s th e
d e a le r s ’ c o m m is s io n s , a n d
b e n c h m a rk
m o rtg a g e
F o r o w n e r - o c c u p ie d
r e la te d
o f r e s id e n tia l fin a n c e .
p ro p e rty ta x e s
ta x
a s
p ro p e rty
in te r e s t a n d
O th e r y e a rs .
b a s e d
D e r iv e d
u n d e r p e r s o n a l c o n s u m p tio n
a c c r u in g
b u s in e s s
fro m
n o n fa rm
to
h o u s in g ,
p e rs o n s
C e n s u s
a d ju s te d
n o t p r im a r ily
B u re a u
to
c o v e r o n ly
e n g a g e d
d e c e n n ia l s u r v e y
in
th e
S a m e
re a l
a s
o w n e r - o c c u p ie d
n o n fa rm
h o u s in g .
o f r e s id e n tia l
fin a n c e .
F a rm
h o u s in g
($ 8 .2
b illio n )
B e n c h m a rk
s p a c e
y e a rs .
re n t (s e e
c o n s u m p tio n
in te r e s t a n d
O w n e r- a n d
th e
e n try
e x p e n d itu r e s )
p ro p e rty
S p a c e
d e r iv e d
re n t (s e e
p e r s o n a l c o n s u m p tio n
F a rm s
N o n fa rm
n o n r e s id e n tia l
p r o p e r tie s
($ 0 .2
b illio n )
o w n e d
B e n c h m a rk
t a b u la tio n s
($ 2 8 .0
b illio n )
A ll y e a r s
F a rm s
U S D A
e n try
B E A
a
ra te
ta x
d e r iv e d
e x p e n s e s , s u c h
U S D A .
fro m
th e
h o u s in g
J u d g m e n ta l tre n d .
o w n e d
a s
m o rtg a g e
b y
d a ta .
fo r fa rm
d w e llin g s
e x p e n s e s
o n
u n d e r
fro m
U S D A
d a ta .
fro m
U S D A
d a ta .
a s s e ts
fro m
d e r iv e d
o f re tu rn
a s
u n d e r p e rs o n a l
n o n r e s id e n t ia l fix e d
tim e s
o f b u s in e s s
o n
r e la te d
e x p e n d itu r e s ) ;
N o n fa rm
s e r ie s
c a p ita l b a s e d
B E A
o n
J u d g m e n ta l tre n d .
IR S
re tu rn s .
c a p ita l s to c k
e x c e p t th e
re p o rte d
d w e llin g s
n o n o p e r a t o r la n d lo r d s
y e a rs .
c a p ita l s to c k
O th e r y e a rs .
R o y a ltie s
b y
le s s
ta x e s , fro m
n o n o p e r a t o r la n d lo r d s
O th e r y e a rs .
te n a n t- o c c u p ie d
fo r fa rm
s e r ie s
a n d
m o s t re c e n t y e a r.
in d iv id u a l in c o m e
ta x
ju d g m e n ta l tr e n d .
IR S
t a b u la tio n s
o f r o y a ltie s
J u d g m e n ta l tre n d .
re tu rn s .
M o s t re c e n t y e a r. J u d g m e n ta l tre n d .
C o r p o r a t e p r o f it s w ith i n v e n to r y v a l u a t i o n a d j u s t m e n t (IVA) a n d c a p ita l c o n s u m p t i o n a d j u s t m e n t
(C C A d j) ($ 1 ,2 9 7 .8 billion)
D o m e s tic
ta x
p r o fits
($ 1 ,5 4 1 .6
b e fo re
b illio n )
A ll y e a r s
IR S
e x c e p t th e
ta b u la tio n s
o f in c o m e
o n
ta x
M o s t re c e n t y e a r.
R e p o rt,
m o s t re c e n t y e a r.
o f b u s in e s s
re tu rn s
P r o fits
r e g u la to r y
a v a ila b le
a n d
fro m
a g e n c y
c o rp o ra te
ta x
R e c e ip ts
re tu rn s ,
le s s
a d ju s te d
d e d u c tio n s
fro m
fo r u n d e rs ta te m e n t
fo r c o n c e p tu a l d iffe r e n c e s .
C e n s u s
B u re a u
re p o rts , a n d
Q u a r te r ly
c o m p ila tio n s
F o r s o m e
F in a n c ia l
s a m e
o f p u b lic ly
a s th e
fo r th e
fin a n c ia l s ta te m e n ts .
( R e le a s e d
a n d
th e
fo u rth
v a lu a tio n
(-$ 5 1 .2
b illio n )
T h e
IV A
o n
th e
in c o m e
p r o p r ie to r s h ip s
(s e e
th e
s o u rc e
e n try
d a ta
a n d
IV A
is
“C h a n g e
b a s e d
r e la tio n s h ip
b u s in e s s
( fo r c o r p o r a tio n s
in
p r iv a te
a n d
th e
ta x
m e th o d s
o n
b e tw e e n
re tu rn s
th e
fo r n o n fa rm
o n
th e
p r o d u c t- s id e
o f in v e n t o r ie s
IV A , a d ju s t e d
in v e n t o r ie s
n o n - L lF O
fro m
in v e n t o r ie s
fin a n c e ,
s o le
S a m e
a n n u a l e s tim a te s
w ith
th e
o f G D P
a n d
th ir d
p r e lim in a r y
fo r th e
fir s t,
q u a rte rs
fin a l e s tim a te
fo r th e
q u a rte r.)
a s
th e
a n n u a l e s tim a te s .
p r o d u c t s id e
th e
re p o rte d
( la s t- in - fir s t o u t ( L IF O ) ) . T h e
n o n -U F O
a n d
a n d
IV A
in v e n to r ie s ” ) d iffe r b e c a u s e
r e fle c t d iffe r e n t p r o p o r t io n s
d iffe r e n t a c c o u n tin g
s id e
s id e
p a r tn e r s h ip s )
in
in
m o s t re c e n t y e a r.
s e c o n d ,
a d ju s tm e n t (IV A )
a n d
ju d g m e n ta l tr e n d ; fo r o th e r s ,
e s tim a te
In v e n to ry
in d u s tr ie s
tr a n s p o r ta tio n
u s in g
in c o m e -
b y th e
IR S
fro m
ta b u la tio n s
th e
o f
C e n s u s
B u re a u .
C a p ita l c o n s u m p tio n
a d ju s t m e n t ( C C A d j)
(-$ 1 9 2 .7
S e e
th e
e n try
c o n s u m p tio n
“ L e s s :
C a p ita l c o n s u m p tio n
o f fix e d
a d ju s tm e n t” u n d e r
c a p ita l.
b illio n )
C u rr e n t s u r p l u s o f g o v e r n m e n t e n t e r p r i s e s (-$ 7 .9 billion)
F e d e ra l
(-$ 2 .2
G o v e rn m e n t
b illio n )
M a in ly
re p o rts
c o n s u m p tio n
in v e n to r y
o n
Seethefootnotesat theendof thetable.
o f v a r io u s
o f fix e d
c a lc u la tio n s
in v e s t m e n t p r ic e s .
a g e n c ie s , s u c h
c a p ita l ( C F C )
a s
th e
e s tim a te s
a t c u r r e n t c o s t, b a s e d
P o s ta l S e r v ic e ,
d e r iv e d
o n
g ro s s
w ith
a n d
p e r p e tu a l-
in v e s t m e n t a n d
J u d g m e n ta l tre n d ; fo r C F C
e s tim a te s , th e
s a m e
a n n u a l e s tim a te s .
a s
th e
20
November 2008
S u m m a r y N IP A M e th o d o lo g ie s
Table 1. Source Data and Methods for Current-Dollar GDP and Current-Dollar GDI—Table Ends
A d v a n c e
A n n u a l e s tim a te s :
S o u rc e
C o m p o n e n t
a n d
S ta te
a n d
d a ta
a n d
o th e r y e a rs
m e th o d s
o r
u s e d
F o r c u r r e n t o p e r a tin g
lo c a l
g o v e rn m e n ts
B u re a u
(-$ 5 .7
e x p e n d itu r e s , s e e
g ro s s
to
a n
a n d
S o u rc e
to
e x tr a p o la to r o r in te r p o la t o r
re v e n u e
d a ta
fro m
C e n s u s
lo c a l g o v e r n m e n t s , a d ju s t e d
fo r “ C o n s u m p tio n
“ C o n s u m p tio n
a n d
le v e l f o r b e n c h m a r k
q u a r te r ly
d a ta
p re p a re
a n d
a n
e s tim a te s :
m e th o d s
u s e d
e x tr a p o la to r
J u d g m e n ta l tre n d .
to
a
fis c a l y e a r b a s is ; fo r c u r r e n t o p e r a t in g
e n tr ie s
in v e s tm e n t” a n d
c a p ita l” u n d e r s ta te
a
d e te r m in e
m a in ly
o f s ta te
fro m
th e
to
p re p a re
r e c e ip ts ,
a n n u a l s u rv e y s
c a le n d a r y e a r b a s is
b illio n )
u s e d
e x p e n d itu r e s
a n d
o f g e n e r a l g o v e r n m e n t fix e d
lo c a l g o v e r n m e n t.
C o n s u m p t i o n o f fix e d c a p i t a l ($1,720.5 billion)
G o v e r n m e n t ($289.4 billion)
G e n e ra l g o v e rn m e n t
($ 2 4 1 .4
P e r p e tu a l- in v e n to r y
b illio n )
P e r p e tu a l- in v e n to r y
G o v e r n m e n t e n te r p r is e s
($ 4 8 .0
m e th o d ,
b a s e d
o n
g ro s s
in v e s t m e n t a n d
o n
S a m e
a s
th e
a n n u a l e s tim a te s .
m e th o d ,
b a s e d
o n
g ro s s
in v e s t m e n t a n d
o n
S a m e
a s
th e
a n n u a l e s tim a te s .
m e th o d ,
b a s e d
o n
g ro s s
in v e s t m e n t a n d
o n
S a m e
a s
th e
a n n u a l e s tim a te s .
in v e s t m e n t p r ic e s .
in v e s t m e n t p r ic e s .
b illio n )
P riv a te ($1,431.1 billion)
D o m e s tic
P e r p e tu a l- in v e n to r y
b u s in e s s
($ 1 ,1 4 7 .0
in v e s t m e n t p r ic e s .
b illio n )
A ll y e a r s
C a p ita l c o n s u m p tio n
a llo w a n c e s
a n d
($ 1 ,0 5 5 .5
e x c e p t th e
o f n o n fa rm
ta b u la tio n s
b illio n )
m o s t re c e n t y e a r.
s o le
o f b u s in e s s
ta x
re tu rn s ,
d iffe r e n c e s ; fo r o t h e r d e p r e c ia t io n
p a r tn e r s h ip s
c a lc u la tio n s
d a m a g e
to
to
a n d
o t h e r p r iv a te
b a s e d
fix e d
o n
b u s in e s s ) ,
F o r d e p r e c ia tio n
a n d
p a r tn e r s h ip s ,
J u d g m e n ta l tre n d .
IR S
fo r c o n c e p tu a l
fa rm
p r o p r ie to r s h ip s
a n d
p e r p e tu a l- in v e n to r y
to
c o s t; fo r a c c id e n ta l
in s u r a n c e
o f c o r p o r a tio n s
B E A
d e p r e c ia tio n ; fo r o t h e r d e p r e c ia tio n
c a p ita l, s a m e
T h e
C a p ita l
a d ju s te d
( in c lu d in g
re p o rte d
o f c o r p o r a tio n s
p a r tn e r s h ip s ,
c o m p a n ie s
a n d
g o v e r n m e n t a g e n c ie s .
p r o p r ie to r s h ip s
d iffe r e n c e
c o n s u m p tio n
c o n s u m p tio n
a n d
in v e s t m e n t a t a c q u is it io n
c a p it a l, lo s s e s
M o s t re c e n t y e a r.
L e s s :
F o r d e p r e c ia tio n
p r o p r ie to r s h ip s
a s
e s tim a te s
a n d
a n d
o f n o n fa rm
s o le
o f ta x -re tu rn -b a s e d
a c c id e n ta l d a m a g e
to
fix e d
a b o v e .
b e tw e e n
o f fix e d
c a p ita l c o n s u m p tio n
a llo w a n c e s
a n d
S a m e
a s
th e
a n n u a l e s tim a te s .
S a m e
a s
th e
a n n u a l e s tim a te s .
c a p ita l.
a d ju s tm e n t ( - $ 9 1 . 5
b illio n )
H o u s e h o ld s
in s titu tio n s
P e r p e tu a l- in v e n to r y
a n d
m e th o d ,
b a s e d
o n
g ro s s
in v e s t m e n t a n d
o n
in v e s t m e n t p r ic e s .
($ 2 8 4 .1
b illio n )
3 . T h i s lin e it e m is a l s o r e f e r r e d t o a s “s e r v i c e s f u r n is h e d w it h o u t p a y m e n t b y f in a n c ia l i n t e r m e
N IP A s N a t i o n a l in c o m e a n d p r o d u c t a c c o u n t s
1 . P e r s o n a l c o n s u m p t io n e x p e n d i t u r e s ( P C E ) f o r d u r a b le a n d n o n d u r a b le g o o d s in c lu d e s $ 1 . 0
b illio n
fo r fo o d
p ro d u c e d
and
consum ed
on
fa rm s
and
s ta n d a rd
c l o t h in g
is s u e d
to
m il it a r y
p e r s o n n e l.
2 . T h e C e n s u s B u r e a u d a t a f o r r e ta il s a l e s in c lu d e s a l e s o f g a s o l i n e s e r v i c e s t a t io n s . T h e e s t i
m a t e s o f P C E f o r g a s o l i n e a n d o il a r e d e r i v e d f r o m t h e s o u r c e s lis t e d a n d a r e d e d u c t e d f r o m t h e
r e t a il- c o n t r o l e s t i m a t e s o f m o s t d u r a b le a n d n o n d u r a b l e g o o d s .
d ia r ie s , e x c e p t life i n s u r a n c e c a r r ie r s .”
4 . R e s i d e n t i a l in v e s t m e n t in c lu d e s - $ 0 . 2 b illio n f o r d o r m it o r ie s a n d n e t p u r c h a s e s o f u s e d s t r u c
tu re s .
5 . C o m p e n s a t i o n o f e m p l o y e e s in c lu d e s $ 1 . 7 b illio n f o r s u p p l e m e n t a l u n e m p l o y m e n t .
6 . N e t in te re s t a n d
r o y a lt ie s .
m i s c e l l a n e o u s p a y m e n t s in c lu d e s $ 2 0 . 1
b illio n f o r g o v e r n m e n t r e n t s a n d
N ovem ber
Survey o f C urrent Business
2008
21
Table 2. Methodology Used in Preparing Estimates of Real GDP—Continues
Deflation, using price based on
Component
CPI or PPI
Using quantity for
extrapolation or direct valuation
Other index
P e rs o n a l c o n s u m p tio n e x p e n d itu re s
D u ra b le a n d n o n d u r a b le g o o d s
M o s t d u r a b le
g o o d s
a n d
n o n d u r a b le
e x c e p t th o s e
lis te d
C P I
b e lo w
P P I, fo r
m ilita r y
c lo th in g
N e w
a u to s
C P I
N e t p u rc h a s e s
u s e d
o f u s e d
a u to s
a n d
lig h t t r u c k s
C P I, fo r n e t
D ir e c t v a lu a tio n .
t r a n s a c tio n s
a n d
u s e d
s a le s
F o r u s e d
lig h t tr u c k s
fro m
tra d e
s o u rc e s
d e a le r s ’ m a r g in s
B u re a u
N e w
tru c k s
G a s o lin e
F o o d
a n d
tra d e
fro m
a u to s
m a r g in s , u n it
w ith
C e n s u s
s o u rc e s .
C P I
a n d
o il
f u r n is h e d
( in c lu d in g
C P I
to
e m p lo y e e s
C P I
m ilita r y )
E x p e n d itu r e s
r e s id e n ts
a b ro a d
le s s
r e m itta n c e s
b y
U .S .
F o r e ig n
C P Is 1
p e rs o n a l
in
k in d
to
n o n r e s id e n ts
S e rv ic e s
N o n fa rm
d w e llin g s : S p a c e
o w n e r - o c c u p ie d
re n t fo r
d w e llin g s
C P I
a n d
r e n t fo r te n a n t- o c c u p ie d
d w e llin g s
R e n ta l v a lu e
o f fa rm
d w e llin g s
Q u a n tity
e x tr a p o la tio n .
n e t s to c k
B E A
M o to r v e h ic le
r e p a ir ,
r e n ta l,
a n d
o t h e r s e r v ic e s ; o t h e r r e p a ir
s e r v ic e s ;
in te r c ity
a n d
o th e r p u rc h a s e d
tr a n s p o r ta tio n ;
f u n e r a l s e r v ic e s ;
s h o p s ,
h e a lth
b e a u ty
c lu b s ;
la u n d r ie s ;
fe e s ;
p a r lo r s ,
n u r s in g
a n d
C o m p o s ite
P P I, fo r p r o p r ie ta r y
a n d
g o v e rn m e n t
n u r s in g
h o m e s
a n d
a c c o u n tin g
a n d
ta x
( e x c e p t c a b le
th e
in d e x
o f in p u t p r ic e s
C e n te r s fo r M e d ic a r e
M e d ic a id
S e r v ic e s
n o n p r o fit n u r s in g
h o m e s ; fo r c lu b s
fe e s
fo r n o n p r o fit r e s e a r c h
a n d
f o u n d a tio n
e x p e n s e s ,
B E A
c o m p o s ite
in d e x e s
fr a t e r n a l o r g a n iz a tio n s ,
a n d
o f in p u t p r ic e s .
re tu rn
r e c r e a tio n
T V , p a r im u tu e l n e t
r e c e ip ts , lo tte r ie s , a n d
s e r v ic e s ) ;
c o m p u te r
h o te ls
a n d
m o te ls ; c o m m e r c ia l b u s in e s s ,
tra d e ,
a n d
s c h o o ls ;
c o rre s p o n d e n c e
e d u c a tio n a l s e r v ic e s
n o t e ls e w h e r e
re s e a rc h
c la s s ifie d ;
o r g a n iz a tio n s
a n d
fo u n d a tio n s
P h y s ic ia n s , d e n tis ts ,
a n d
o th e r
p r o fe s s io n a l m e d ic a l s e r v ic e s
C P I
P P I, fo r p h y s ic ia n s ,
h o m e
a n d
h e a lth
c a re ,
m e d ic a l
la b o r a t o r ie s
P r iv a te
n u rs e ry
e le m e n t a r y
s c h o o ls ,
d a y
s c h o o ls ,
a n d
B E A
s e c o n d a ry
c a r e , w e lfa r e
a c tiv itie s , p o litic a l o r g a n iz a tio n s ,
fo u n d a tio n s ,
a n d
a n d
tra d e
u n io n s
p r o fe s s io n a l a s s o c ia tio n s
Seethefootnotesat theendof thetable.
c o m p o s ite
p r ic e s .
a n d
fo r p r iv a te
a n d
h o m e s ;
s e r v ic e s ;
fro m
e m p lo y m e n t a g e n c y
e m p lo y m e n t a g e n c y
p r e p a r a tio n
o n lin e
le g a l
b a rb e r
C P I
in d e x e s
o f in p u t
o f fa rm
c a p ita l s to c k
R e a l d o lla r
h o u s in g
fro m
e s tim a te s .
22
November 2008
S u m m a r y N IP A M e th o d o lo g ie s
Table 2. Methodology Used in Preparing Estimates of Real GDP—Continues
Deflation, using price based on
Component
F in a n c ia l s e r v ic e s
B E A
P P I, fo r in v e s tm e n t
fu r n is h e d
Using quantity for
extrapolation or direct valuation
Other index
CPI or PPI
c o m p o s ite
in d e x
o f in p u t
Q u a n tity
w ith o u t p a y m e n t b y b a n k s , o th e r
c o m p a n ie s ’
p r ic e s , fo r in v e s t m e n t c o m p a n ie s ’
d e p o s ito r y
s e c u r itie s
“ to ta l d e d u c tio n s .”
in s titu tio n s ,
a n d
e x tr a p o la tio n .
B a n k s ,
o f to ta l o u t p u t ( le s s
re a l b a n k
c o m m is s io n s
in v e s tm e n t c o m p a n ie s 2
in d e x
s e r v ic e
c h a r g e s ) t im e s
c o n s u m e r s h a re
o f d e p o s its
a n d
d e p o s ito r y
e m p lo y e e
B L S
B E A
b a s e d
o n
s h a re s
lo a n s ; f o r o t h e r
in s t it u t io n s ,
h o u rs
p a id
o f r e le v a n t
fin a n c ia l in s t it u t io n s ; fo r
in v e s t m e n t c o m p a n ie s ’ “ im p lic it
c h a rg e s ,” B E A
fro m
v o lu m e
o rd e rs
d a ta
d e r iv e d
fro m
tra d e
s o u rc e s .
B ro k e ra g e
c h a rg e s
s e r v ic e
c h a rg e s ,
tr a n s p o r ta tio n
a n d
p r iv a te
D o m e s tic
P u b lic
P P I, fo r s e c u r itie s
b a n k
c o m m is s io n s
in te r c ity
e x c e p t “o th e r,”
r e lig io u s
a n d
h o s p ita ls ,
e d u c a tio n .
n a tu ra l g a s ,
a n d
B E A
P P I, fo r p r iv a te
T V ,
fo r-
c o m p o s ite
p r ic e s , f o r life
r e lig io u s
p r o fit h o s p ita ls
lo c a l tr a n s p o r t
tra v e l b y
U .S .
e x p e n d itu r e s
S ta te s
b y
r e s id e n ts
in
th e
U n ite d
C P I, fo r e x p e n d itu r e s
in
th e
U n ite d
S ta te s
O t h e r s e r v ic e s :
Q u a n tity
o f in p u t
a n d
b y
o f n e w
C P I.
o t h e r h o u s in g
m o te ls ; t o lls ;
e x c e p t h o te ls
p r e m iu m s
h o s p ita liz a tio n
d e fla te d
o f in p u t p r ic e s
fo r
B E A
fro m
M e d ic a r e
th e
a n d
c o m p o s ite
b y
in d e x
in
b y
b y
a n d
in s u r a n c e , b e n e fits
P P I; fo r w o r k e r s ’
c o m p e n s a tio n , p r e m iu m s
S e r v ic e s .
C P I s , 1 fo r fo r e ig n
F o r a u to
d e f la te d
C P I; fo r m e d ic a l c a r e
d e fla te d
P P I.
o f fo r e ig n
tr a v e l; fo r
fo r e ig n
tr a v e l,
B L S
in d e x .
C P I
M o to r v e h ic le
e x tr a p o la tio n .
in s u r a n c e ,
Q u a n tity
e x tr a p o la tio n .
F o r
p a r im u tu e l n e t r e c e ip ts ,
p a r im u t u e l n e t r e c e ip ts ;
o p e r a tio n
d e f la te d
in d e x
im p o r t p r ic e
le a s in g ;
F o r m u tu a l
c h a r g e s , v a lu e
n o n p r o fit h o s p ita ls , c o m p o s ite
a ir fa r e s
n o n r e s id e n ts
in d e x e s
in s u r a n c e
a c tiv itie s ; fo r p r iv a te
M e d ic a id
le s s
s a le s
e x tr a p o la tio n .
s a le s
C P I
C e n te rs
F o r e ig n
fu n d
tr a n s p o r ta tio n
C P I
h o s p ita ls ,
a c tiv itie s , c a b le
te le p h o n e ,
Q u a n tity
h o s p ita ls
lo t t e r ie s
p r iv a te
e le c tr ic ity ,
a ir
o f in p u t
h ig h e r
P P I, fo r p u b lic
o th e r s a n ita r y
a n d
In s u ra n c e ,
a n d
in d e x
fo r p r iv a te
C P I
s e r v ic e
s e r v ic e s ,
c o m p o s ite
p r ic e s
h ig h e r e d u c a tio n
e d u c a tio n
w a te r a n d
B E A
C P I
a n d
in v e s t m e n t c o u n s e lin g ,
w in n in g s
a n d
d e f la te d
b y
g ro s s
C P I.
o t h e r h o u s e h o ld
e x c e p t r e p a ir s
a n d
in s u r a n c e ; tr a v e l a n d
e n te r ta in m e n t c a r d
s te n o g r a p h ic
a n d
fe e s ;
r e p r o d u c tio n
s e r v ic e s ;
m o n e y
c la s s ifie d
a d v e r tis in g ;
c o m p u t e r o n lin e
o rd e rs
a n d
a n d
s e r v ic e s
F ix e d i n v e s t m e n t
N o n re s id e n tia l s t r u c t u r e s
C o m m e r c ia l a n d
h e a lth
c a re
P P I, fo r w a r e h o u s e s
a n d
o ffic e s
B E A
in d e x
s q u a re
b a s e d
fo o t fro m
o n
c o s ts
tra d e
p e r
s o u rc e
fo r
c o m m e r c ia l s tr u c tu r e s ; fo r
h e a lth
c a re ,
B E A
in d e x
b a s e d
c o s t
in d e x
fro m
tra d e
s o u rc e
C e n s u s
B u re a u
s in g le - fa m ily
p r ic e
h o u s e s
o n
a n d
o n
d e fla to r fo r
u n d e r
c o n s tr u c tio n .
P P I, fo r
M a n u fa c tu r in g
in d u s tr ia l
B E A
P o w e r a n d
P P I, fo r p o w e r
c o m m u n ic a tio n
e x c lu d in g
in d e x
s q u a re
b u ild in g s
b a s e d
fo o t fro m
C o s t in d e x e s
e le c tr ic
a n d
o n
c o s ts
p e r
tra d e
s o u rc e .
tra d e
s o u rc e s
fro m
g o v e r n m e n t a g e n c ie s , fo r
p o w e r ; fo r c o m m u n ic a tio n , c o s t
in d e x
M in in g
e x p lo r a t io n , s h a fts ,
w e lls
a n d
P P I, f o r c a s in g , o il a n d
g a s
w e ll d r illin g ,
o il a n d
g a s
s e r v ic e s
fie ld
a n d
B E A
fro m
fro m
in d e x
tra d e
B u re a u
f a m ily
s o u rc e .
o n
s o u rc e
p r ic e
h o u s e s
f o r m in e s .
Seethefootnotesat theendof thetable.
tra d e
b a s e d
c o s t in d e x
a n d
o n
C e n s u s
d e fla to r fo r s in g le
u n d e r c o n s tr u c tio n ,
Q u a n tity
fo o ta g e
tra d e
e x tr a p o la tio n .
b y
g e o g r a p h ic
s o u rc e .
F o r d r illin g ,
a re a
fro m
November 2008
Survey of Current Business
23
Table 2. Methodology Used in Preparing Estimates of Real GDP—Continues
D e fla tio n ,
u s in g
p r ic e
b a s e d
o n
U s in g
C o m p o n e n t
C P I o r
O th e r s tru c tu re s
P P I
O t h e r in d e x
P P I, fo r b r o k e r s ’
c o m m is s io n s
e x tr a p o la tio n
B E A
p r ic e
in d e x
e d u c a tio n a l a n d
b a s e d
v o c a tio n a l s t r u c t u r e s
s o u rc e
p r ic e
o n
B E A
c o s t in d e x
a n d
fo r
o r d ir e c t v a lu a t io n
f o r r a ilr o a d s ; fo r
o th e r c o m p o n e n ts ,
a n d
q u a n tity
o n
in d e x
fro m
C e n s u s
tra d e
B u re a u
d e f la t o r fo r s in g le - fa m ily
h o u s e s
u n d e r c o n s tr u c tio n .
N o n re s id e n tia l e q u ip m e n t a n d s o f tw a r e
E q u ip m e n t e x c e p t t h o s e
lis te d
b e lo w
P P I, fo r m o s t d o m e s tic
c o m p o n e n ts
a n d
fo r
im p o r te d
B L S
im p o r t p r ic e
im p o r te d
in d e x e s , f o r
c o m p o n e n ts
tr a n s p o r ta tio n
e x c e p t
e q u ip m e n t.
tr a n s p o r ta tio n
e q u ip m e n t
N e w
a u to s ,
n e w
lig h t tr u c k s ,
n e t p u rc h a s e s
a n d
u s e d
o f u s e d
a n d
a u to s
C P I, fo r n e w
a n d
n e w
a u to s
D ir e c t v a lu a tio n .
a n d
lig h t t r u c k s
lig h t tr u c k s
u s e d
e n try
a u to s
F o r u s e d
lig h t tr u c k s ,
“N e t p u rc h a s e s
a n d
u s e d
a u to s
s e e
th e
o f u s e d
lig h t tr u c k s ” u n d e r
p e r s o n a l c o n s u m p tio n
e x p e n d itu r e s .
T e le p h o n e
a n d
te le g r a p h
B E A
c o s t in d e x
B E A
p r ic e
in d e x
B E A
p r ic e
in d e x
B E A
c o s t in d e x ,
in s t a lla t io n
T e le p h o n e
s w itc h in g
P h o to c o p y in g
e q u ip m e n t
e q u ip m e n t
S o ftw a re
P P I, fo r p r e p a c k a g e d
s o ftw a re
c o s t in d e x ,
B L S
a n d
a c c o u n t a n d
e m p lo y m e n t
P P I, fo r o w n -
c u s to m
s o ftw a re .
R e s id e n tia l in v e s tm e n t
P e r m a n e n t- s ite
h o u s in g
n e w
s in g le - fa m ily
C e n s u s
u n its
B u re a u
s in g le - fa m ily
p r ic e
d e fla to r fo r
h o u s e s
u n d e r
c o n s tr u c tio n .
P e r m a n e n t- s ite
h o u s in g
n e w
m u ltifa m ily
B E A
p r ic e
in d e x
B E A
c o m p o s ite
u n its
M a n u fa c tu re d
h o m e s
P P I
Im p ro v e m e n ts
in d e x
o f in p u t
p r ic e s , f o r m a jo r r e p la c e m e n t s ; fo r
a d d itio n s
in d e x
p r ic e
a lte r a tio n s ,
o n
C e n s u s
B E A
B u re a u
d e f la t o r fo r s in g le - fa m ily
h o u s e s
B E A
a n d
b a s e d
u n d e r c o n s tr u c tio n
in d e x
fo r
a n d
m a jo r
r e p la c e m e n ts .
B r o k e r s ’ c o m m is s io n s
P P I
E q u ip m e n t
C P I
C h a n g e in p r i v a t e i n v e n t o r i e s
N o n fa rm
P u rc h a s e d
g o o d s
o f a ll in d u s t r ie s
C o m p o s ite
p r ic e
In fo r m a tio n
c ru d e
fro m
th e
p e tr o le u m ; B L S
in d e x e s , f o r im p o r t e d
p u rc h a s e d
W o r k - in - p r o c e s s
g o o d s ,
a n d
f in is h e d
B E A
in d e x e s
E n e rg y
A d m in is tr a tio n , fo r
b y tra d e
im p o r t p r ic e
g o o d s
in d u s tr ie s .
o f u n it la b o r c o s ts .
m a n u fa c tu r in g
F a rm
Seethefootnotesat theendof thetable.
U S D A
a v e ra g e
m a r k e t p r ic e s
D ir e c t v a lu a tio n .
p r ic e s
o f s to c k s
p e tr o le u m , a n d
u tilitie s
fro m
Q u a n titie s
n a tu ra l g a s
E n e rg y
A d m in is tr a tio n .
a n d
o f c o a l,
fo r
In fo r m a tio n
24
November 2008
S u m m a r y N IP A M e th o d o lo g ie s
Table 2. Methodology Used in Preparing Estimates of Real GDP—Continues
Deflation, using price based on
Component
CPI or PPI
Using quantity for
extrapolation or direct valuation
Other index
N et e x p o rts of g o o d s a n d s e rv ic e s
E x p o rts
a n d
im p o r ts
P P I, fo r g o ld ;
o f g o o d s
s e m i
e x p o rts
tr a n s p o r ta tio n
p e tr o le u m
e q u ip m e n t; s e le c te d
in d e x e s
a g r ic u ltu r a l fo o d s ,
v a lu e s
r e fin e d
o f s e r v ic e s
a n d
e n e rg y
im p o r ts ,
im p o r ts ,
b a s e d
a n d
o n
a n d
fo r
u n it- v a lu e
C e n s u s
B u re a u
q u a n titie s .
a n d
s e le c te d
im p o r ts
im p o r t p r ic e
s e le c te d
b e v e ra g e s ;
a n d
e x p o rt a n d
in d e x e s ; f o r e le c t r ic
fe e d s ,
E x p o rts
B L S
c o n d u c to r e x p o rts ,
a n d
im p o r ts
o f
p e tr o le u m
C P I, fo r tr a v e l r e c e ip ts ,
S e le c te d
d e fla to r s , fo r m ilita r y
m e d ic a l r e c e ip ts , a n d
tra n s fe rs
n o n r e s id e n t
e x p e n d itu r e s :
s tu d e n ts ’
d e fe n s e
o th e r
tr a n s p o r ta tio n
Q u a n tity
d e fe n s e
s e e
“ N a tio n a l
o f
c a p ita l”
to ta l b a n k
im p o r t p r ic e
in d e x
o u t p u t ( le s s
b a n k s e r v ic e
a n d
e x p o rt a n d
F o r e x p o rts
fu r n is h e d
w ith o u t p a y m e n t,2 B L S
e x c e p t c o n s u m p tio n
b e lo w .
B L S
e x tr a p o la tio n .
o f fin a n c ia l s e r v ic e s
g e n e r a l g o v e r n m e n t fix e d
e x p e n d itu r e s
P P I, fo r s e le c te d
a n d
o f
re a l
c h a rg e s ); fo r e x p o rts
im p o r ts
p r e m iu m s
B E A
o f in s u r a n c e ,
d e f la te d
b y
P P I.
in d e x e s , f o r p a s s e n g e r f a r e s ; B E A
c o m p o s ite
in d e x
o f fo r e ig n
C P Is ,1
fo r tra v e l p a y m e n ts , fo r
m is c e lla n e o u s
s e r v ic e s ,
s t u d e n t s ’ e x p e n d itu r e s
B L S
e x p o rts
a n d
im p o r ts
in d e x e s , f o r s e le c t e d
tr a n s p o r ta tio n ;
a n d
fe e s , a n d
a n d
p r ic e
fo r
r o y a ltie s
o t h e r p r iv a te
B E A
P P I, a n d
im p lic it p r ic e
to
U .S .
o th e r
s e r v ic e s ,
fin a l s a le s
a n d
a b ro a d ;
p r ic e
in d e x e s , C P I,
d e fla to r fo r
d o m e s tic
p u rc h a s e rs .
G o v e rn m e n t c o n s u m p tio n e x p e n d itu r e s a n d g r o s s in v e s tm e n t
F e d e ra l G o v e rn m e n t
N a tio n a l d e fe n s e
c o n s u m p tio n
P P I, fo r s e le c te d
e x c e p t
o f g e n e ra l
g o v e r n m e n t fix e d
g o o d s
c a p ita l
C P I a n d
u tilitie s
a n d
s e r v ic e s
B E A
in d e x e s
P P I, fo r
a n d
a n d
fo r s o m e
c o m m u n ic a tio n s
b a s e d
p a id , f o r s o m e
o n
g o o d s
fo r m o s t m ilita r y
s e r v ic e s ,
D O D
a n d
p r ic e s
s e r v ic e s
s tru c tu re s ;
B L S
fu ll- tim e
n o n m ilita r y s tr u c tu r e s , c o s t
b y
fro m
tra d e
a c c o u n t s o ftw a re ,
d e r iv e d
s o u rc e s
a n d
fro m
B E A
in d e x
n o n d e fe n s e
s o ftw a re ,
B E A
n o n d e fe n s e
in d e x
a n d
in d e x
d e r iv e d
c o m p e n s a tio n
fro m
p r ic e
fro m
D ir e c t v a lu a tio n .
s e r v ic e s
a n d
c a p ita l
s e r v ic e s
s e le c te d
C P I, fo r re n t,
a n d
C o s t in d e x e s
a n d
fro m
tra d e
u tilitie s ,
s o u rc e s
g o v e r n m e n t a g e n c ie s , fo r
s tru c tu re s ; fo r s o m e
c o m m u n ic a tio n s
a n d
n a tu ra l g a s ,
a n d
p r ic e s
q u a n titie s
s e r v ic e s , B L S
fro m
B E A
in d e x
n o n d e fe n s e
B E A
n o n d e fe n s e
in d e x
Q u a n tity
e x tr a p o la tio n .
c o m p e n s a tio n
P P I.
fro m
p r ic e
e m p lo y m e n t b y
e q u iv a le n t
g r a d e , a d ju s t e d
fro m
b a s e
y e a r in
w o r k e d ; fo r fin a n c ia l
fu r n is h e d
o u t p u t ( le s s
s e r v ic e
w ith o u t
in d e x
B E A
o f to ta l b a n k
re a l b a n k
c h a rg e s ).
D ir e c t v a lu a tio n .
F o r n e t p u rc h a s e s
o f a g r ic u ltu r a l c o m m o d it ie s
C o m m o d ity
q u a n titie s
re p o rts
s e le c te d
D O E
o n
F o r
c o m p e n s a tio n , fu ll- tim e
p a y m e n t,2 B L S
d e r iv e d
b a s e d
in v e s tm e n t.
s e r v ic e s
c o m p e n s a tio n ; fo r c u s to m
Seethefootnotesat theendof thetable.
fro m
P e r p e tu a l-
c a lc u la tio n s
h o u rs
a n d
g o o d s
m ilita r y
D O E .
fo r c h a n g e
in d e x
fe w
q u a n titie s
o w n -a c c o u n t s o ftw a re ,
s o ftw a re ,
a
r e p o r ts ; fo r e le c tr ic ity
D O D
e m p lo y m e n t c o s t in d e x e s ; f o r
d e r iv e d
w o rk e d .
F o r s o m e
s tru c tu re s ,
in v e n to r y
P P I, fo r m o s t g o o d s
h o u rs
fro m
a n d
o f
fo r c h a n g e
y e a r in
D ir e c t v a lu a tio n .
c a p ita l
e x c e p t c o n s u m p tio n
le n g t h
c o m p e n s a tio n ,
P P I.
o f
o f g e n e r a l g o v e r n m e n t fix e d
e q u iv a le n t
ra n k a n d
a d ju s te d
b a s e
g ro s s
N o n d e fe n s e
F o r m ilita r y
e q u iv a le n t e m p lo y m e n t
g ra d e ,
a n d
c o m p e n s a tio n ; fo r c u s to m
g e n e r a l g o v e r n m e n t fix e d
e m p lo y m e n t b y
s e r v ic e ; f o r c iv ilia n
g o v e r n m e n t a g e n c ie s ; f o r o w n -
c o n s u m p tio n
e x tr a p o la tio n .
c o m p e n s a tio n , fu ll- tim e
e m p lo y m e n t c o s t in d e x e s ; f o r
in d e x e s
N a tio n a l d e fe n s e
Q u a n tity
b y
a n d
b y
th e
C r e d it C o r p o r a tio n ,
c ro p
fro m
U S D A
p e tr o le u m
q u a n titie s
a n d
a g e n c y
p r ic e s ; fo r
tr a n s a c tio n s ,
p r ic e s .
November 2008
Survey of Current Business
25
T able 2. M e th o d o lo g y U se d in P re p a rin g E s tim a te s of R eal G D P— Table E nds
D e fla tio n ,
u s in g
p r ic e
b a s e d
o n
U s in g
q u a n tity
fo r
C o m p o n e n t
C P I
N o n d e fe n s e
c o n s u m p tio n
g e n e r a l g o v e r n m e n t fix e d
o r
P P I
e x tr a p o la tio n
O t h e r in d e x
o f
o r d ir e c t v a lu a tio n
D ir e c t v a lu a tio n .
c a p ita l
in v e n to r y
g ro s s
P e r p e tu a l-
c a lc u la tio n s
b a s e d
o n
in v e s tm e n t.
S ta te a n d lo c a l g o v e r n m e n t
C o n s u m p tio n
e x p e n d itu r e s
a n d
g ro s s
in v e s t m e n t e x c e p t t h o s e
lis te d
b e lo w
C P I, fo r s e r v ic e s
B E A
P P I, f o r e le c tr ic ity ,
h o s p ita ls ,
m o s t
b a s e d
o n
p r ic e s
tr a n s p o r ta tio n ,
p r o fe s s io n a l
s e r v ic e s , a n d
in d e x e s
n o n d e fe n s e
F e d e ra l
p a id , f o r
b o o k s ,
a n d
s e r v ic e s ; fo r e le m e n t a r y
g o o d s
p o s ta l
a n d
s e c o n d a r y e d u c a t io n , w e lfa r e , a n d
lib r a r ie s ,
B E A
c o m p o s ite
in d e x e s
o f in p u t p r ic e s ; fo r m a in te n a n c e
a n d
r e p a ir s e r v ic e s ,
c o m p o s ite
a n d
C o m p e n s a tio n
p r ic e
B E A
in d e x
fo r s ta te
lo c a l c o n s t r u c t io n .
Q u a n tity
o f g e n e ra l
e x tr a p o la tio n .
e m p lo y e e s
g o v e r n m e n t e m p lo y e e s
in
F o r
e d u c a tio n , fu ll- tim e
e q u iv a le n t e m p lo y m e n t b y
e d u c a tio n
a d ju s te d
y e a r in
a n d
e x p e r ie n c e ,
fo r c h a n g e
h o u rs
fro m
e m p lo y e e s , f u ll- tim e
e q u iv a le n t
e m p lo y m e n t, a d ju s te d
fro m
C o n s u m p tio n
o f g e n e ra l
g o v e r n m e n t fix e d
b a s e
y e a r in
D ir e c t v a lu a tio n .
c a p ita l
in v e n to r y
g ro s s
S tru c tu re s
C o s t in d e x e s
a n d
S o ftw a re
S e e
fro m
tra d e
b a s e
w o rk e d ; fo r o th e r
fo r c h a n g e
h o u rs
w o rk e d .
P e r p e tu a l-
c a lc u la tio n s
b a s e d
o n
in v e s tm e n t.
s o u rc e s
g o v e r n m e n t a g e n c ie s .
th e
e n try
fo r s o ftw a re
u n d e r
n o n r e s id e n tia l e q u ip m e n t a n d
s o ftw a re .
B ro k e ra g e
s e r v ic e s
c h a rg e s
fu r n is h e d
a n d
Q u a n tity
fin a n c ia l
w ith o u t
e n tr ie s
p a y m e n t
e x tr a p o la tio n .
fo r b r o k e ra g e
fo r fin a n c ia l s e r v ic e s
S e e
u n d e r
p e r s o n a l c o n s u m p tio n
e x p e n d itu r e s .
B E A B u r e a u o f E c o n o m ic A n a ly s i s
B L S B u r e a u o f L a b o r S t a t is t i c s
C P I C o n s u m e r p r ic e i n d e x
DOD Department of Defense
D O E D e p a rtm e n t o f E n e rg y
D O T D e p a r tm e n t o f T ra n s p o rta tio n
P P I P r o d u c e r p r ic e in d e x
U S D A U .S . D e p a r t m e n t o f A g r ic u l t u r e
1. The foreign CPIs have been adjusted for differences in exchange rates.
2 . T h i s lin e it e m is a l s o r e f e r r e d to a s “s e r v i c e s f u r n is h e d w it h o u t p a y m e n t b y f in a n c i a l i n t e r m e
d ia r ie s , e x c e p t life i n s u r a n c e c a r r ie r s .”
th e
c h a rg e s
a n d
26
November 2008
U.S. Multinational Companies
Operations in 2006
B
y
R
a y m
o n d
J .
M
a t a lo n i J r.
H REE key m easu res o f th e w o rld w id e o p e ra tio n s
o f n o n b a n k U.S. m u ltin a tio n a l com p an ies
(M N C s)— value ad d ed , e m p lo y m e n t, a n d capital ex
p e n d itu re s— c o n tin u e d to increase in 2006, according
to p re lim in a ry results fro m th e a n n u a l survey o f U.S.
d ire c t in v e stm e n t a b ro a d c o n d u c te d by th e B ureau o f
E co n o m ic A nalysis (BEA ).1 T h e p re lim in a ry 2006 esti
m ates in th is article su p ersed e th e advance su m m a ry
estim ates o f U.S. M N C e m p lo y m e n t, capital e x p e n d i
tu res, a n d sales, w h ich w ere released in A pril (see th e
b o x “R evisions” ).
In 2006, g ro w th in all th re e o f these m easures o f
M N C o p e ra tio n s c o n tin u e d at a h ealth y pace for th e
th ird consecutive year after th e u n u su a l decreases in
2 001-2003 fo r e m p lo y m e n t a n d capital ex p en d itu res
a n d in 2 0 0 1 -2 00 2 fo r value ad d ed . B oth d o m estic a n d
foreign o p e ra tio n s c o n tin u e d to grow. T h e w orldw ide
c u rre n t-d o lla r value a d d e d o f U.S. M N C s— th e c o m
b in e d value a d d e d o f U.S. p a re n t co m p an ies a n d th eir
m a jo rity -o w n e d foreign affiliates (“foreign affili
ates” )— increased 8.4 p e rc e n t in 2006; value ad d e d o f
p a re n ts in creased 8.1 p ercen t, w hile value a d d ed o f fo r
eign affiliates increased 9.2 p ercen t (table 1). Value
a d d e d m easu res th e c o n trib u tio n o f a co m p an y to the
gross d o m estic p ro d u c t o f its c o u n try o f lo cation.
W orld w id e e m p lo y m e n t by U.S. M N C s increased
2.2 p e rc e n t in 2006. E m p lo y m e n t by U.S. p are n ts in
creased 1.3 p ercen t. A n d e m p lo y m e n t by foreign affili
ates increased 4.4 p ercen t. W orldw ide capital
ex p e n d itu re s by U.S. M N C s increased 17.4 percent.
E x p en d itu res by p a re n ts increased 17.3 p ercent. A nd
ex p en d itu res by fo reig n affiliates increased 17.7 p e r
cent.
T
1. A U.S. M N C com prises a U.S. parent com pany and its foreign affiliates.
For b o th conceptual and practical reasons, the exam ination of foreign oper
ations o f U.S. M NCs in this article generally focuses on data for m ajorityow ned foreign affiliates (MOFAs) rather than data for all foreign affiliates.
Conceptually, m ost data users prefer using the data for m ajority-ow ned
affiliates because such affiliates are unam biguously under U.S. control; for
eign affiliates that are m inority-ow ned by a U.S. resident could be under the
control o f foreign investors. In addition, some o f the data items necessary
for the exam ination o f foreign operations of U.S. M NCs are m ore easily col
lected for m ajority-ow ned affiliates, and m ost foreign affiliates are m ajority
owned; m ajority-ow ned affiliates accounted for 87 percent of the em ploy
m ent by all nonbank foreign affiliates in 2006.
R e v is io n s
The estimates of MNC operations in 2006 are prelim i
nary. The estimates of employment, capital expendi
tures, and sales supersede the advance sum m ary
estimates that were released on April 17, 2008. From
the advance estimates to the prelim inary estimates,
the estimate of employment was revised down 0.1 per
cent, the estimate of capital expenditures was revised
up 8.1 percent, and the estimate of sales was revised
down less than 0.1 percent. The revision to capital
expenditures partly reflects the inclusion of expendi
tures for automotive equipm ent for rental and leasing
for 1999-2006. Previously, the reports of some U.S.
parents om itted these expenditures even though they
should have been included.
The final estimates of MNC operations in 2005 are
also presented. The final estimates of employment,
capital expenditures, and sales supersede the sum
m ary estimates in the April news release and the pre
lim inary estimates that were published in the
November 2007 S u r v e y . 1 From the sum m ary estimates
to the final estimates, the estimate of employment was
revised up 1.0 percent, the estimate of capital expendi
tures was revised up 9.1 percent, and the estimate of
sales was revised up 1.0 percent. From the preliminary
estimates to the final estimates, the estimate of
employment was revised down 0.5 percent, the esti
mate of capital expenditures was revised up 12.5 per
cent, and the estimate of sales was revised up 2.3
percent.
In addition to the estimates of the levels of U.S.
M NC’s employment, capital expenditures, and sales,
the April news release included estimates of
2005-2006 growth rates. The revisions to the levels of
the 2005 and 2006 estimates discussed above resulted
in revisions to the growth rates; employment growth
was revised down 1.1 percentage points, capital
expenditures growth was revised down 0.4 percentage
point, and sales growth was revised down 1.0 percent
age point.
1. See Raymond I. M ataloni Jr., “O perations o f U.S. M ultinational
C om panies in 2005,” S u r v e y 87 (Novem ber 2007): 42-64.
November 2008
Survey of Current Business
P ro d u c tio n by M N C s in 2006 ex p a n d e d along w ith
w o rld w id e eco n o m ic activity: v a lu e -a d d e d g ro w th o f
U.S. p a re n ts (8.1 p e rc e n t) exceeded c u rre n t-d o lla r U.S.
gross d o m estic p ro d u c t (G D P) g ro w th (6.4 percen t),
a n d v a lu e -a d d e d g ro w th o f foreign affiliates (9.2 p e r
cent) exceeded w o rld w id e G D P g ro w th excluding th e
U n ited States (8.9 p e rc e n t).2
Increases in M N C value a d d e d w ere w id esp read by
in d u s try a n d g eo g rap h ic area. By in d u stry , som e o f th e
sh a rp e st increases w ere in services, su ch as finance (ex
cep t b an k s) a n d in su ra n c e , a n d in professional, scien
tific, a n d tech n ical services.3 By g eo g rap h ic area, th e
increases w ere sh a rp e st in th e M id d le East (m ain ly in
27
p e tro le u m -p ro d u c in g co u n trie s) a n d in L atin A m erica
a n d O th e r W estern H e m isp h ere (c h a rt 1). By area, th e
largest d o llar increases w ere in th e U n ited States a n d in
E urope; by in d u stry , th e largest d o llar increases w ere in
m a n u fa c tu rin g a n d in finance (except banks) a n d in
surance.
T h e follow ing are ad d itio n a l h ig h lig h ts o f M N C o p
eratio n s in 2006:
• T he o p e ra tio n s o f U.S. M N C s re m a in e d c o n ce n
tra te d in th e U n ited States: U.S. p a re n ts acco u n te d
fo r ro u g h ly 70 percen t, a n d foreign affiliates for
ro u g h ly 30 p ercen t, o f th e ir c o m b in e d value a d d ed
o f $3,504.9 b illion, capital e x p en d itu re s o f $595.7
b illion, a n d em p lo y m e n t o f 31.2 m illio n (table 1).
H ow ever, th e p a re n t shares w ere d o w n ro u g h ly 5
2. Estimates o f worldwide GDP excluding the U nited States are at current
prices in U.S. dollars and were obtained from the Econom ic Statistics sec
tion o f the United Nations Statistics Division Web site at unstats.un.org/
3. T hroughout this article, “finance (except banks) and insurance” refers
unsd/econom ic_m ain.htm ; click on “N ational Accounts M ain Aggregates
to “finance (except depository institutions) and insurance,” which is the
Database,” and then click on “Basic Data Selection.”
industry title that appears in the tables.
Table 1. Selected Data for Nonbank U.S. MNCs, U.S. Parents, and Foreign Affiliates, 1982-2006
U.S. M NCs
Parents
and all
affiliates
Affiliates
Parents
and
M OFAs
U.S. M NCs
Parents
Total
MOFAs
O ther
Value added
Millions of dollars
1 9 8 2 .....................................................
1 9 8 3 .....................................................
1 9 8 4 .....................................................
1 9 8 5 .....................................................
1 9 8 6 .....................................................
1 9 8 7 .....................................................
1988.
1 989.
1 990.
1991.
1 992.
1 993.
1 99 4.
1 99 5.
1 99 6.
1 99 7.
1 99 8.
1999'
2000.
2001.
2 0 0 2 .....................................................
2 0 0 3 .....................................................
2 0 0 4 .....................................................
2005 ....................................................
2 0 0 6 -....................................................
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
1,019,734
796,017
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
1,364,878 1,044,884
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
1,717,488 1,313,792
1,831,046 1,365,470
1,978,948 1,480,638
2,094,318 1,573,451
2,100,773 1,594,504
2,480,739 1,914,343
2,748,106 2,141,480
2,478,056 1,892,399
2,460,411 1,858,805
2,655,903 1,958,125
2,991,723 2,173,467
3,232,582 2,321,092
3,504,857 2,509,219
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
223,717
216,683
220,331
2 20,074
2 31,644
2 69,734
297,556
3 19,994
356,033
355,963
361,524
359,179
403,696
465,576
498,310
520,867
506,269
566,396
606,626
585,657
601,606
697,778
818,256
911,490
995,638
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
3.3
8.1
n.a.
n.a.
8.3
9.2
n.a.
n.a.
Percent change at annual rates:
1 9 9 9 -2 0 0 5 .....................................
2 0 0 5 -2 0 0 6 .....................................
n.a.
n.a.
4.5
8.4
Number of employees
Thousands
198
2
198 3
1984.
25,344.8
24,782.6
24.548.4
1985.
1986.
1987.
1988.
1989.
1990.
1991.
1992.
1993.
1 9 9 4 .....................................................
24,531.9
24.082.0
24.255.4
24.141.1
25.387.5
25.263.6
24,837.1
24,189.7
24,221.5
25,670.0
23.727.0
23.253.1
22,972.6
22.923.0
22.543.1
22.650.0
22.498.1
23.879.4
23,785.7
23.345.4
22,812.0
22,760.2
24,272.5
18,704.6
18,399.5
18,130.9
18,112.6
17.831.8
17.985.8
17,737.6
18,765.4
18,429.7
17,958.9
17,529.6
17,536.9
18,565.4
6,640.2
6,383.1
6 .417.5
6 ,419.3
6 ,250.2
6 .269.6
6 ,403.5
6,622.1
6 ,833.9
6 ,878.2
6,660.1
6,684.6
7,104.6
5,022.4
4,853.6
4,841.7
4.810.4
4 ,711.3
4,664.2
4.760.5
5 .114.0
5.356.0
5,386.5
5,282.4
5,223.3
5,707.1
1,617.8
1,529.5
1.575.8
1.608.9
1.538.9
1,605.4
1,643.0
1,508.1
1,477.9
1,491.7
1,377.7
1,461.3
1,397.5
p Preliminary
r Revised
MNC Multinational company
1. Break in series. (Beginning with 1999, BEA expanded its estimates to include data for ‘‘very small” foreign
affiliates and for parents that had only “very small” foreign affiliates. For details, see the technical note on page
1995
1996
1997
1998
1999 1 .................................................
2000
2001
2 0 0 2 ....................................................
2 0 0 3 ....................................................
2 0 0 4 ....................................................
2 0 0 5 '..................................................
2006 >>..................................................
A ffiliates
Parents
and all
affiliates
Parents
and
MOFAs
P arents
25,921.1
26,334.0
27,851.0
28,003.6
32,227.0
33,598.2
32,538.7
31,893.6
30,762.3
31,244.9
32,093.7
32,683.0
24,499.7
2 4,867.0
26,358.0
26,592.9
3 0,772.6
3 2,056.6
3 0,929.2
3 0,373.2
2 9,347.0
2 9,843.2
3 0,573.3
31,245.4
18,576.2
18,790.0
19,878.0
19,819.8
23,006.8
23,885.2
22,735.1
22,117.6
21,104.8
21,176.5
21,472.0
21,747.6
-0 .1
1.8
-0 .1
2.2
248,262
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
276,790
n.a.
n.a.
n.a.
n.a.
328,240
n.a.
n.a.
n.a.
n.a.
550,205
n.a.
n.a.
n.a.
n.a.
486,548
n.a.
n.a.
n.a.
n.a.
Total
MOFAs
O ther
7 ,344.9
7,544.0
7,973.0
8,183.8
9,220.2
9,713.0
9,803.6
9,776.0
9,657.5
10,068.4
10,621.7
10,935.4
5,923.5
6,077.0
6,480.0
6,773.1
7,765.8
8,171.4
8,194.1
8,255.6
8,242.2
8,666.7
9,101.3
9,497.8
1,4 21.4
1,467.0
1,493.0
1,410.7
1,454.4
1,541.6
1,609.5
1,520.4
1,415.3
1,401.7
1,520.4
1,437.6
-1 .1
1.3
2.4
3.0
2.7
4.4
0.7
- 5 .4
233,078
197,534
203,791
221,509
203,809
199,171
223,814
260,488
274,614
269,221
272,049
271,661
303,364
323,616
340,510
398,037
411,155
519,199
548,212
560,779
4 77,709
4 44,339
4 62,898
5 07,322
5 95,736
188,266
160,656
168,692
185,027
169,131
162,139
177,203
2 01,808
2 13,079
206,290
208,834
2 07,437
231,917
248,017
260,048
309,247
3 17,184
405,895
437,575
450,021
367,434
334,751
339,419
3 77,182
442,573
59,996
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
74,982
n.a.
n.a.
n.a.
n.a.
96,323
n.a.
n.a.
n.a.
n.a.
144,310
n.a.
n.a.
n.a.
n.a.
147,129
n.a.
n.a.
44,812
36,878
3 5,099
3 6,482
34,678
37,032
46,611
58,680
61,535
62,931
63,215
64,224
71,447
15,184
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
16,302
n.a.
75,599
80,462
88,790
93,971
113,304
110,637
110,758
110,275
109,588
123,479
130,140
153,163
n.a.
n.a.
24,876
n.a.
n.a.
n.a.
n.a.
31,006
n.a.
n.a.
n.a.
n.a.
23,650
n.a.
n.a.
- 0 .4
17.4
- 1 .2
17.3
n.a.
n.a.
2.3
17.7
n.a.
n.a.
Percent change at annual rates:
1 9 9 9 -2 0 0 5 ...................................
2 0 0 5 -2 0 0 6 ...................................
Capital expenditures
Millions of dollars
1 9 8 2 ....................................................
1 9 8 3 ....................................................
1 9 8 4 ....................................................
1 9 8 5 ....................................................
1 9 8 6 ....................................................
1 9 8 7 ....................................................
1 9 8 8 ....................................................
1989
1990
1991
1992
1993
1994
1 9 9 5 ....................................................
1 9 9 6 ....................................................
1997
1998
1999 M ................................................
2 0 0 0 1...................................................
2001 r...................................................
2002 r...................................................
2003
2 0 0 4 '...................................................
2 0 0 5 '...................................................
2006 p .................................................
Percent change at annual rates:
1 9 9 9 -2 0 0 5 ...................................
2 0 0 5 -2 0 0 6 ...................................
121 of the December 2 0 0 2 S u r v e y o f C u r r e n t B u s i n e s s .)
MOFA Majority-owned foreign affiliate
n.a. Not available
28
C h a r t
November 2008
U .S . M u ltin a tio n a l C o m p a n i e s
1 . V a lu e
A d d e d
a n d
C h a n g e
in
V a lu e
A d d e d
o f
M N C s
b y
C o u n tr y
in
2 0 0 6
Value Added
I
M o r e t h a n $ 3 0 b illio n
I
$ 8 b i l l i o n t o $ 3 0 b illio n
$ 2 b i llio n t o $ 8 b illio n
$ 5 0 0 m illio n t o $ 2 b illio n
$ 1 0 0 m illio n t o $ 5 0 0 m illio n
Less t h a n $ 1 0 0 m illio n
Percent Change in Value Added
N o te . The pe rcen t cha n ge is undefined because value added changes sign betw een 2 0 0 5 and 2 0 0 6 , value added was zero in 2 0 0 5 o r 2 0 0 6 , or value added was less than $ 1 0 0 million in 2 0 0 5 o r 2 0 0 6 — for these
countries, sm all dollar ch anges m ay produce large percent changes.
U.S. Bureau of Economic Analysis
November 2008
Survey of Current Business
percentage p o in ts fro m th e shares in th e 1999
b e n c h m a rk (o r census) survey year.
• M o st foreign affiliates c o n tin u e d to be lo cated in
h ig h -in c o m e c o u n tries. In 2006, affiliates in these
c o u n trie s a c c o u n te d for 79 p e rc e n t o f th e value
a d d ed by all affiliates a n d for 90 p e rc e n t o f th e value
a d d ed by affiliates th a t w ere new ly acq u ired o r
established. H ow ever, th e h ig h -in c o m e -c o u n try
share o f value a d d e d by all affiliates in 2006 was
d o w n 6 percen tag e p o in ts fro m its level in th e 1999
b e n c h m a rk survey year.
• T h e value
ad d e d o f affiliates in m id d lein co m e c o u n trie s— such as C h in a, Brazil, an d
P o lan d — grew at a d o u b le -d ig it rate in 2006 as it has
since 2003. M u ch o f th e p ro d u c tio n b y affiliates in
these c o u n trie s serves th e local m ark et; in 2006, 68
p ercen t o f sales by these affiliates w ere to local cu s
to m ers, 20 p e rc e n t w ere to cu sto m ers in o th e r fo r
eign c o u n tries, a n d 12 p e rc e n t w ere to U.S.
custo m ers.
• U.S. M N C s c o n tin u e d to a cco u n t for a large share o f
th e U.S. tra d e in goods in 2006. T rade associated
w ith U.S. p a re n ts o r th e ir foreign affiliates
a cco u n ted fo r 51 p ercen t, o r $531.7 b illion, o f to tal
U.S. ex p o rts o f g oods a n d for 37 p ercen t, o r $678.2
b illion, o f to tal U.S. im p o rts o f goods.
T h e re m a in d e r o f th is article exam ines w orldw ide
29
o p e ra tio n s o f U.S. M N C s, o p e ra tio n s o f U.S. parents,
a n d o p e ra tio n s o f th e ir foreign affiliates.
W o r l d w i d e O p e r a t i o n s o f U .S . M N C s
F o u r aspects o f th e w orldw ide o p e ra tio n s o f U.S.
M N C s are ex am in ed here: value ad d ed , em p lo y m en t,
U.S. tra d e in goods, an d research a n d d e v elo p m en t
p e rfo rm e d by M N C s.
V a lu e a d d e d
In c u rre n t dollars, th e value ad d ed o f U.S. M N C s in
creased 8.4 p erce n t in 2006 to $3,504.9 billio n (table
2). T h e value ad d ed o f U.S. p are n ts increased 8.1 p e r
cent to $2,509.2 billion. A nd th e value a d d e d o f foreign
affiliates increased 9.2 p erce n t to $995.6 billion.
Table 2. Value Added of Nonbank U.S. Multinational Companies
by Industry of Parent, 2005 and 2006
[M illio n s o f d o lla rs ]
2005
A ll in d u s trie s ........................................................................
Percent
change
272,275
8.4
94,118
100,244
6,126
6.5
U tilitie s ............................................................................................
93,557
83,577
-9 ,9 8 0
- 1 0 .7
M a n u fa c tu rin g ...............................................................................
1,621,268
1,711,406
90,138
5.6
O f w h ich :
90,973
96,605
5,632
6.2
Petroleum and coal p ro d u c ts ..........................................
3 31,139
362,551
31,412
9.5
C h e m ic a ls .............................................................................
288,299
297,701
9,402
P rim ary and fabricated m e ta ls ........................................
71,446
79,557
3.3
11.4
Fo o d .......................................................................................
M a c h in e ry .............................................................................
77,039
82,810
8,111
5,771
C om puters and electronic p ro d u c ts ...............................
157,193
163,155
5,962
31,154
39,162
8,008
264,125
2 67,963
3,838
1.5
159,141
169,883
10,742
6.7
In fo rm a tio n .....................................................................................
322,894
338,301
15,407
4.8
Finance (except d e pository institutions) and in su ra n ce .....
197,135
269,722
7 2,587
36.8
Transportation e q u ip m e n t................................................
u r v e y
3,232,582 3,504,857
C hange
M in in g .............................................................................................
E lectrical equipm ent, appliances, and com ponents
D ata A vailability
The final estimates of the worldwide operations of
U.S. multinational companies (MNCs) for 2005 and
the preliminary estimates for 2006 are presented in
this article. The estimates are based on the 2005 and
2006 annual surveys of U.S. direct investment abroad.
More detailed estimates from the surveys are posted
on BEA’s Web site.
The final estimates of U.S.-MNC operations for
1977 and for 1982-2004 are available in publications
or in files that can be downloaded free of charge from
our Web site at www.bea.gov.
For more information about these products and
how to obtain them, go to www.bea.gov/bea/ai/iid
guide.htm.
The Bureau has a free service on its Web site that
allows users to interactively access detailed data on the
operations of U.S. multinational companies, on the
operations of foreign-owned companies in the United
States, and on other aspects of U.S. direct investment
abroad and foreign direct investment in the United
States. For an introductory guide to this service, see
Ned G. Howenstine, “Primer: Accessing BEA Direct
Investment Data Interactively,” S
86 (May 2006):
61-64.
2006
7.5
3.8
25.7
P rofessional, scientific, and technical s e rv ic e s ....................
177,745
200,363
22,618
12.7
O ther in d u s trie s ...........................................................................
566,725
631,360
64,635
11.4
T he available evidence on changes in prices a n d ex
change rates suggests th a t in real term s, th e value
a d d ed o f U.S. p aren ts a n d foreign affiliates increased
significantly. For U.S. p arents, th e 8.1 p ercen t increase
in c u rre n t-d o lla r value add ed substantially exceeded
th e 2.8 p ercen t rate o f inflatio n (as m easu red by the
im plicit price d eflator for G D P o f all U.S. private in
dustries). For foreign affiliates, th e 9.2 p ercen t increase
in value ad d ed exceeded th e increase in c u rre n t-d o lla r
values th a t cou ld be a ttrib u te d to th e c o m b in ed effects
o f th e 2.2 p ercen t average rate o f in flatio n in h o st
co u n tries an d th e 0.9 p ercen t d e p reciatio n o f th e dollar
against m ajo r foreign cu rrencies.4 E stim ates presented
later in this article indicate th a t th e real value add ed o f
4. The rate o f inflation in 12 m ajor euro area countries and in 15 other
major host countries averaged 2.2 percent in 2006. Together, these coun
tries accounted for 79 percent o f total value added of foreign affiliates in
2006. The average inflation rate (weighted by foreign affiliate value added)
in these countries was derived from data on GDP implicit price deflators
from the World Bank Web site. The weighted average U.S.-dollar price of
the currencies o f these countries increased 0.9 percent in 2006.
30
U .S . M u ltin a tio n a l C o m p a n i e s
fo reig n affiliates in m a n u fa c tu rin g increased 3.4 p e r
cen t in 2006.
E m p lo y m e n t
In 2006, e m p lo y m e n t by U.S. M N C s in creased 2.2 p e r
cen t to 31.2 m illio n w orkers. T he e m p lo y m e n t by U.S.
p a re n ts in creased 1.3 p ercen t to 21.7 m illio n; th e larg
est increases w ere in p rofessional, scientific, a n d te c h
nical services a n d in “o th e r in d u strie s” (m ainly
tra n s p o rta tio n a n d w areh o u sin g ). T h e 1.3 p ercen t
g ro w th in p a re n t e m p lo y m e n t w as slow er th a n th e 1.9
p e rc e n t g ro w th in em p lo y m e n t in all U.S. do m estic
p riv ate in d u stries.
E m p lo y m e n t by foreign affiliates in creased 4.4 p e r
cen t to 9.5 m illio n . By area, th e largest increases w ere
in E u ro p e a n d in L atin A m erica a n d O th e r W estern
H em isp h ere. By in d u stry , th e largest increases w ere in
m a n u fa c tu rin g a n d in “o th e r in d u strie s” (m ain ly retail
tra d e a n d fo o d services).
U .S . t r a d e in g o o d s
In 2006, U.S. ex p o rts o f goods th a t involved U.S. p a r
ents o r th e ir m a jo rity -o w n e d o r m in o rity -o w n e d fo r
eign affiliates— M N C -asso ciated e x p o rts— increased
8.7 p e rc e n t to $531.7 b illio n (table 3). T his increase
was slow er th a n th a t for ex p o rts o f g oods by all U.S.
businesses (14.4 p ercen t); as a result, th e M N C -associated share o f to ta l U.S. ex p o rts o f goods fell fro m 54
p e rc e n t in 2005 to 51 p e rc e n t in 2006.
M N C -asso ciated im p o rts o f goods in creased 5.6
p e rc e n t to $678.2 billion. T h e increase was slow er th a n
th e increase in to ta l U.S. im p o rts o f go o d s (10.8 p e r
cent); as a result, th e M N C -asso ciated share o f total
U.S. im p o rts o f goods fell fro m 38 p e rc e n t in 2005 to
37 p e rc e n t in 2006.
T h e increase in M N C -asso ciated e x p o rts o f goods in
2006 reflected increases in b o th tra d e b etw een U.S.
November 2008
p a ren ts a n d th e ir foreign affiliates a n d tra d e betw een
U.S. M N C s an d “o th e rs” (tra d e betw een U.S. p a re n t
co m panies a n d foreigners o th e r th a n th e ir ow n affili
ates an d tra d e betw een foreign affiliates a n d U.S. resi
d ents o th e r th a n th e ir ow n p aren ts). E xports by U.S.
p aren ts to th e ir foreign affiliates increased 7.7 percen t,
an d U.S. ex p o rts betw een U.S. M N C s an d o th e rs in
creased 9.3 percen t. By in d u stry o f U.S. p aren t, the
largest increase in ex p o rts betw een U.S. M N C s a n d
o th ers was by p aren ts in tra n s p o rta tio n eq u ip m e n t
m an u fa c tu rin g . By in d u stry o f foreign affiliate, the
largest increases in in tra -M N C ex p o rts w ere to affili
ates in tra n s p o rta tio n e q u ip m e n t m a n u fa c tu rin g and
chem ical m an u fa c tu rin g .
T he increase in M N C -asso ciated im p o rts o f goods
reflected increases in b o th U.S. M N C tra d e w ith oth ers
an d im p o rts sh ip p e d by foreign affiliates to th e ir U.S.
p arents. U.S. im p o rts betw een U.S. M N C s a n d oth ers
increased 7.2 percen t, a n d im p o rts by U.S. p a re n ts
from th e ir foreign affiliates increased 2.9 percent. By
in d u stry o f U.S. p a ren t, th e largest increase in im p o rts
betw een U.S. M N C s a n d o th e rs was to p aren ts in p e
tro le u m an d coal p ro d u c ts m an u factu rin g . By in d u stry
Table 3. U.S. Trade in Goods Associated with
Nonbank U.S. MNCs, 2005 and 2006
[Millions of dollars]
2005
2006
M N C -a s s o c ia te d U.S. e x p o rts , t o t a l .........................................................................
Intra-M N C tr a d e .............................................................................................................
S hipped by U.S. parents to th e ir M O F A s ...........................................................
S hipped by U.S. parents to th e ir oth e r foreign a ffilia te s 1...............................
489,299
188,771
175,524
13,247
531,702
2 03,352
189,706
13,646
M NC trade with o th e rs .................................................................................................
S hipped by U.S. parents to foreigners oth e r than th e ir own a ffilia te s ........
O f w h ic h :
Shipped by U.S. parents to their foreign parent g ro u p s 2 .....................
S hipped to foreign affiliates by U.S. persons oth e r than th e ir own parents
To M O F A s ..............................................................................................................
To other foreign a ffilia te s 3..................................................................................
300 ,52 8
266,994
328,350
291,794
39 ,733
33,534
33,534
n.a.
39,473
36,556
3 6,556
n.a.
M N C -a s s o c ia te d U.S. im p o rts , t o t a l .........................................................................
Intra-M N C tr a d e .............................................................................................................
Shipped by M OFAs to th e ir U.S. p a re n ts ...........................................................
S hipped by other foreign affiliates to th e ir U.S. parents 1...............................
642,484
244,965
227,509
17,456
678,181
2 52,173
23 4 ,34 6
17,827
M NC trade with o th e rs .................................................................................................
Shipped to U.S. parents by foreigners other than th e ir own a ffilia te s ........
397 ,51 9
347,181
4 26,008
37 6 ,00 7
107,090
50 ,338
41,920
8,418
102,995
50,001
4 6,002
3,999
O f w h ich :
A c k n o w le d g m e n ts
The 2006 annual survey was conducted under the
direction o f Patricia C. Walker and Barbara K.
Hubbard. James Y. Shin supervised the editing and
processing o f the reports. The following staff contrib
uted to the processing and editing o f the survey or
to the related com puter programming: Joan O.
Adams, Catherine E. Ama, Helen Y. Bai, Gregory L.
Brace, Christina D. Briseno, James J. Crim, Ian P.
Dusenberry, Andre Garber, Brian C. Goddard, Mark
D. Goddard, Carole J. Henry, Jennifer A. Jones, Neeta
Kapoor, Sarin Koerner, Marcia S. Miller, Deborah
Neff, Amanda M. Petersen, Kevin J. Reagan, Robert L.
Ruiz, Myriam B. Rullan, Aqeel A. Sahibzada, Gary E.
Sowers, Nancy F. Steffen, and Stacy A. Young.
Shipped to U.S. parents by their foreign parent g r o u p s 2.....................
S hipped by foreign affiliates to U.S. persons oth e r than th e ir own parents
By M O FA s..............................................................................................................
By other foreign a ffilia te s 3................................................................................
Addenda:
All U.S. exports of g o o d s..................................................................................................
U .S .-M N C -associated U.S. exports as a percentage of to ta l............................
Intra-U .S.-M N C exports as a percentage of to ta l..................................................
905 ,97 8 1,036,635
54.0
51.3
20.8
19.6
All U.S. im ports of g o o d s .................................................................................................
U .S .-M N C -associated U.S. im ports as a percentage o f to ta l............................
Intra-U .S.-M N C im ports as a percentage o f to ta l..................................................
1,673,455 1,853,938
38.4
36.6
14.6
13.6
1. This number is calculated as total exports (imports) between U.S. parents and all of their foreign affiliates
(as reported for U.S. parents) less exports (imports) between U.S. parents and MOFAs (as reported for
MOFAs).
2. Pertains to U.S. parents that are, in turn, owned 10 percent or more by a foreign person. The foreign
parent group consists of (1) the foreign parent of the U.S. parent, (2) any foreign person, proceeding up the
foreign parent’s ownership chain, that owns more than 50 percent of the person below it, and (3) any foreign
person, proceeding down the ownership chain(s) of each of these members, that is owned more than 50
percent by the person above it.
3. This number is calculated as total exports (imports) associated with “other” (that is, minority-owned and
50-percent owned) foreign affiliates (as reported for affiliates) less the estimate of exports (imports) between
U.S. parents and “o th e r foreign affiliates that are calculated as described in footnote 1. However, these esti
mates may be imprecise because of differences in the coverage of the data reported for U.S. parents and for
foreign affiliates. No estimate of exports is available for 2005 and 2006, because the differences were espe
cially large in those years.
MNCs Multinational companies
MOFAs Majority-owned foreign affiliates
n.a. Not available
November 2008
Survey of Current Business
o f foreign affiliate, th e largest increases in in tra -M N C
U.S. im p o rts w ere sh ip p e d b y affiliates in w holesale
trad e.
w ere p a rtly offset by a relatively sm all decrease related
to th e d e p a rtu re o f U.S. p a re n ts th a t sold o r liq u id ated
th e ir last foreign affiliate (line 5).
R e s e a rc h a n d d e v e lo p m e n t
E x p en d itu res fo r research a n d d e v e lo p m e n t (R&D)
p e rfo rm e d b y U.S. M N C s increased 5.4 p e rc e n t in 2006
to $216.3 b illio n (tab le 4). R&D ex p en d itu res by U.S.
p a re n ts in creased 5.8 p e rc e n t to $187.8 billion. A n d
R&D ex p en d itu res by foreign affiliates increased 3.0
p e rc e n t to $28.5 billion.
Table 4. R&D Performed by Nonbank U.S. Multinational Companies
by Industry of Parent, 2005 and 2006
[Millions of dollars]
C hange
P ercent
change
216,297
11,046
5.4
(D )
(D )
(D )
35
34
-1
-2 .9
168,217
177,350
9,133
5.4
F o o d ............................................................................................
1,742
2,056
314
18.0
C h e m ic a ls ..................................................................................
52,422
52,124
2005
2006
205,251
427
U tilitie s .................................................................................................
M a n u fa c tu rin g ....................................................................................
All in d u s trie s .............................................................................
M ining
O f w h ich :
-2 9 8
- 0 .6
P rim a ry and fa bricate d m e ta ls .............................................
1,423
1,435
12
0.8
M a c h in e ry ..................................................................................
6,336
6,882
546
8.6
C om puters and electronic p ro d u c ts ....................................
41,778
47,162
5,384
12.9
E lectrical equipm ent, appliances, and c o m p o n e n ts ......
1,932
3,073
1,141
T ransportation e q u ip m e n t.....................................................
50,314
51,662
1,348
2.7
W holesale tra d e ................................................................................
5,395
5,362
-3 3
- 0 .6
59.1
In fo rm a tio n ..........................................................................................
14,386
15,733
1,347
9.4
Finance (except d e pository institutions) and in s u ra n ce .........
258
(D )
(D )
(D )
Professional, scientific, and technical s e rv ic e s .........................
14,833
15,452
619
4.2
O ther in d u s trie s ................................................................................
1,701
1,804
103
6.1
D Suppressed to avoid disclosure of data of individual companies.
By in d u stry o f U.S. p a re n t, th e largest increases in
R&D ex p en d itu res w ere in c o m p u ters a n d electronic
p ro d u c ts m a n u fa c tu rin g a n d in tra n s p o rta tio n e q u ip
m e n t m a n u fa c tu rin g . W ith in c o m p u te rs a n d elec
tro n ic p ro d u c ts, p ro d u c e rs o f m icrop ro cessors an d
cellular telep h on es increased th e ir R&D activities.
W ith in tra n s p o rta tio n eq u ip m e n t, R&D ex pen ditu res
w ere b o o sted by aircraft m a n u fa c tu rers’ research d i
rected tow ard im p ro v in g fuel efficiency.
31
Table 5. Sources of Change in the Value Added of
Nonbank U.S. Parent Companies, 2005-2006
[Millions of dollars]
1 2005 level..........................................................................................................
2,321,092
2 Total c h a n g e ..............................................................................................................
188,127
3
New parents 1.......................................................................................................
5,357
4
C hanges in existing o p e ra tio n s 2.....................................................................
148,153
5
Parents departing the universe 3.....................................................................
-8 ,9 9 7
6
O ther changes 4 ..................................................................................................
43,614
7 2006 level..........................................................................................................
2,509,219
1. Parents that established or acquired their first foreign affiliate in 2006.
2. Consists of changes in existing operations and changes resulting from parents acquiring, establishing,
selling, or liquidating parts of their consolidated operations. BEA generally requires survey respondents to fully
consolidate their U.S.-parent operations.
3. Parents that sold or liquidated their last foreign affiliate and those that went out of business in 2006.
4. Equals the change in the value added of parents not accounted for in lines 3 -5 , such as changes resulting
from the addition to the survey universe of parents that were required to report in earlier years but did not. Line
6 will also capture any measurement error in the items on the other lines, because it is calculated as the differ
ence between line 2 and the sum of lines 3, 4, and 5.
By in du stry , th e increases in value a d d e d o f U.S.
p a re n ts w ere w idespread, b u t th e sh arp est increases
w ere in finance (except banks) a n d in su rance; p ro fes
sional, scientific, a n d technical services; a n d o th e r in
du stries (m ainly tra n s p o rta tio n ) (table 6). In finance
(except ban ks) a n d in su rance, value ad d ed increased
$70.5 billio n o r 43.8 percent; th e increase p a rtly re
flected favorable business co n d itio n s such as a high
rate o f c o rp o ra te m erger a n d a c q u isitio n activity,
w hich b o o ste d d e m a n d for securities u n d e rw ritin g ser
vices. In professional, scientific, a n d technical services,
value ad d e d increased $19.4 b illio n o r 15.8 percen t,
p a rtly reflecting rising sales o f softw are a n d related
su p p o rt services to businesses. In o th e r in d u stries,
value ad d e d increased $49.6 b illio n o r 10.3 percen t,
p artly reflecting h ig h er revenues in ocean a n d rail
tra n sp o rta tio n .
Table 6. Value Added of Nonbank U.S. Parent Companies,
by Major Industry, 2005 and 2006
[Millions of dollars]
U .S . P a r e n t s ’ O p e r a t i o n s
Two aspects o f th e o p e ra tio n s o f U.S. p a re n t com panies
are exam ined here: value ad d ed by in d u stry an d re
search an d d ev elo p m en t p e rfo rm e d by parents.
2005
U tilitie s ............................................................................................
C u rre n t-d o lla r value ad d ed o f U.S. p a re n ts increased
8.1 p ercen t in 2006 to $2,509.2 b illio n after increasing
6.8 p ercen t in 2005. T he 2006 increase largely reflected
increases in p a re n ts’ o n g o in g o p e ra tio n s (table 5, line
4); increases related to th e a d d itio n o f n ew p a re n ts to
th e U.S. M N C universe (line 3) a n d to u nallocated
changes (line 6) w ere relatively sm all. These increases
Change
Percent
change
188,127
8.1
6 0,080
64,997
4,917
8.2
83,195
75,094
-8 ,1 0 1
- 9 .7
1,005,149 1,045,509
40,360
4.0
All in d u s trie s ........................................................................ 2,321,092 2,509,219
M in in g .............................................................................................
M a n u fa c tu rin g ...............................................................................
V a lu e a d d e d
2006
O f w h ich :
F o o d .......................................................................................
6 3,164
64,915
1,751
2.8
C h e m ic a ls .............................................................................
179,117
185,277
6,160
3.4
P rim ary and fabricated m e ta ls........................................
56,631
61,696
5,065
8.9
M a c h in e ry .............................................................................
5 3,293
54,565
1,272
2.4
105,889
100,227
-5 ,6 6 2
-5 .3
C om puters and electronic p ro d u c ts ...............................
Electrical equipm ent, appliances, and com ponents
23,198
29,879
6,681
28.8
Transportation e q u ip m e n t................................................
182,729
183,800
1,071
0.6
W holesale tra d e ...........................................................................
128,124
132,651
4 ,527
3.5
In fo rm a tio n .....................................................................................
280,647
287,669
7,022
2.5
F inance (except d e pository institutions) and in s u ra n c e .....
161,002
231,465
7 0,4 6 3
43.8
P rofessional, scientific, and technical s e rv ic e s ....................
122,453
141,835
19,382
15.8
O ther in d u s trie s ............................................................................
480,443
529,998
49,555
10.3
32
November 2008
U .S . M u ltin a tio n a l C o m p a n i e s
Research and developm ent
In 2006, ex p e n d itu re s fo r R&D p e rfo rm e d by U.S. p a r
e n ts to ta le d $187.8 b illio n , c o m p a re d w ith $177.6 b il
lio n in 2005. U.S. p a re n ts acco u n ted fo r 76 p erce n t o f
to tal R&D p e rfo rm e d by all U.S. businesses in 2006
(table 7). T his share is n o ta b ly h ig h e r th a n p a re n ts’
share o f p riv ate in d u s try value ad d ed , w hich was 25
p e rc e n t, a n d o f e m p lo y m e n t, w hich was 19 percent.
Taken together, th ese shares suggest th a t p ro d u c tio n by
U.S. p a re n ts is hig h ly R&D intensive.
In 2006, as in p rev io u s years, p a re n ts in m a n u fa c
tu rin g acco u n ted for th e largest share (81 p ercen t) o f
R&D p e rfo rm e d by p are n ts (table 8). W ith in m a n u fa c
tu rin g , p are n ts in chem icals, co m p u te rs a n d electronic
Table 8. Research and Development Performed by
Nonbank U.S. Parent Companies and by
All U.S. Businesses, in Selected Industries, 2006
[M illio n s o f d o lla rs ]
R&D
perform ed
by parents
R &D by
R&D
parents as a
perform ed
p ercentage of
by all U.S.
R &D by
b u s in e sse s 1
all U.S.
b u s in e s s e s 2
A ll in d u s tr ie s ...............................................................
187,813
247,669
M a n u fa c tu r in g ..........................................................................
151,974
171,814
88.5
2,316
44,914
1,432
46,329
161.7
96.9
75.8
O f w h ic h :
Petroleum and coal p ro d u c ts .............................................
C h e m ic a ls ...............................................................................
O f w h ich :
Table 7. Research and Development Performed by Nonbank U.S.
Parent Companies and by All U.S. Businesses, 1997-2006
[M illio n s o f d o lla rs ]
Basic ch e m ic a ls ......................................................
Resins and synthetic rubber, fibers, and
fila m e n ts ...............................................................
P harm aceuticals and m e d icin e s.........................
M a c h in e ry ...............................................................................
C om puters and electronic p ro d u c ts .................................
1,555
2,152
72.3
2,417
36,163
5,893
4 1,727
1,975
38,901
9,848
56,773
122.4
93.0
59.8
73.5
8,080
2,748
4 2,850
(D)
2,281
(D)
120.5
(D)
(D)
M otor vehicles, bodies and trailers, and parts
M iscellaneous m a n u fa c tu rin g ............................................
18,272
4,397
(D)
5,150
(D)
85.4
I n fo r m a tio n ................................................................................
53.1
O f w h ich :
Perform ed
by parents
Perform ed by all
U.S. b u s in e sse s1
R &D by parents
as a percentage of
R &D by all U.S.
businesses
1 9 9 7 ....................................................
106,800
157,739
67.7
1 9 9 8 ....................................................
113,777
169,180
67.3
1 9 9 9 ....................................................
126,291
182,711
69.1
2 0 0 0 ....................................................
135,467
199,539
67.9
2001 ....................................................
143,017
198,505
72.0
2 0 0 2 ....................................................
136,977
193,868
70.7
2 0 0 3 ....................................................
139,884
200,724
69.7
2 0 0 4 ....................................................
164,189
208,301
78.8
2 0 0 5 ....................................................
177,598
226,159
78.5
2 0 0 6 ....................................................
187,813
247,669
75.8
1.
These estimates are computed using data obtained from the National Science Foundation Web site
www.nsf.gov/statistics/infbrief/nsf08313.
C om puters and peripheral e q u ip m e n t..............
Electrical equipm ent, appliances, and c o m p o n e n ts .....
O f w h ich :
14,264
26,883
Publishing in d u strie s........................................................
10,329
(D)
(D)
P ro fe s s io n a l, s c ie n tific , a n d te c h n ic a l s e r v ic e s .........
14,282
38,049
37.5
148
9,005
6,579
14,841
2.2
60.7
O f w h ich :
O f w h ich :
A rchitectural, engineering, and related s e rv ic e s ......
C om puter system s design and related services
D Suppressed to avoid disclosure of data of individual companies.
1. Source: National Science Foundation.
2. In some industries, the percentage of all-U.S.-business research and development accounted for by U.S.
parents exceeds 100 percent. Differences in industry classification and geographic coverage may explain these
anomalies. For instance, Puerto Rico is excluded from the National Science Foundation data, but it is included
in the BEA data.
D ata o n U.S. D irec t In v e s tm e n t A b ro a d
collects two broad sets o f data on U.S. direct invest
m ent abroad: (1) financial and operating data of U.S.
m ultinational companies and (2) international transac
tions and direct investment position data. This article
presents highlights of the first set o f data; the second set
of data is usually published in the July and September
issues o f the S
C
B
.1
Financial and o perating data. The financial and oper
ating data provide a picture o f the overall activities of for
eign affiliates and U.S. parent companies, using a variety
o f indicators o f their financial structure and operations.
The data on foreign affiliates cover the entire operations
of the affiliate, irrespective of the percentage of U.S. own
ership. These data cover items that are needed in analyz
ing the characteristics, performance, and economic
impact of m ultinational companies, such as sales, value
added, em ployment and com pensation o f employees,
capital expenditures, exports and im ports, and research
B E A
u r v e y
o f
u r r e n t
u s in e s s
1. See Marilyn Ibarra and Jennifer Koncz, “Direct Investm ent Posi
tions for 2007: C ountry and Industry Detail,” S u r v e y 88 (July 2008):
20-35 an d Jeffrey H. Lowe, “Direct Investm ent, 2004-2007: Detailed
Historical-Cost Positions and Related Capital and Incom e Flows,” S u r
v e y 88 (Septem ber 2008): 34-121.
and development expenditures. Separate tabulations are
available for all affiliates and for affiliates that are m ajor
ity-owned by their U.S. parent(s)
In ternational transactions an d direct investm ent
position data. The international transactions data cover
a foreign affiliate s transactions with its U.S. parent(s), so
these data focus on the U.S. parent’s share, or interest, in
its affiliate rather than on the affiliate’s size or level of
operations. These data are essential to the compilation of
the U.S. international transactions accounts (ITAs), the
international investment position, and the national
income and product accounts. The major data items
include capital flows (recorded in the financial account of
the ITAs), which measure the funds that U.S. parents
provide to their foreign affiliates, and income (recorded
in the current account), which measures the return on
those funds
Direct investment position data are stock (cumulative)
data; they measure the total outstanding level of U.S.
direct investment abroad at yearend. Estimates are pro
vided both at historical cost and in terms of currentperiod prices. The historical-cost estimates are published
by country and by industry.
November 2008
Survey of Current Business
p ro d u c ts, a n d tra n s p o rta tio n e q u ip m e n t acco u n te d for
th e largest shares o f R&D sp en d in g .
In 2006, p a re n ts a c c o u n te d fo r m o re th a n 90 p e r
cen t o f U.S. R& D sp e n d in g in su ch m a n u fa c tu rin g in
d u stries as p e tro le u m a n d coal p ro d u c ts; resins an d
sy n th etic ru b b er, fibers, a n d filam ents; p h a rm a c e u ti
cals a n d m ed icin es; a n d electro n ic e q u ip m e n t, ap p li
ances, a n d c o m p o n e n ts. T hese h ig h shares p a rtly
reflect th e p a re n ts ’ large share o f to ta l U.S. econom ic
activity in these in d u stries. Also, m o st U.S. p are n ts are
relatively large firm s, w h ich te n d to c o n d u c t a d isp ro
p o rtio n a te ly large share o f to ta l R&D spen d in g.
O p e r a tio n s o f F o r e ig n A ffilia te s
F o u r aspects o f th e o p e ra tio n s o f foreign affiliates are
e x a m in e d here: value ad d ed , th e d is trib u tio n by c o u n
try a n d b y in d u s try o f new ly a cq u ired o r established
affiliates, th e affiliates’ shares o f h o st c o u n try GDP, an d
research a n d d ev e lo p m e n t p e rfo rm e d by affiliates.
V a lu e a d d e d
C u rre n t-d o lla r value a d d e d o f foreign affiliates in
creased 9.2 p e rc e n t to $995.6 b illio n in 2006. T he in
crease largely reflected g ro w th in affiliates’ on g o in g
o p e ra tio n s (table 9, line 6); increases related to th e a d
d itio n o f n ew affiliates to th e U.S. M N C u niverse (line
3) o r to u n a llo c a te d changes (line 8) w ere n o t as large
a n d w ere p a rtly offset b y a decrease related to th e d e
p a rtu re o f affiliates th a t w ere sold o r liq u id a ted (line
7).
33
tra c tio n ) a n d p a rtly reflected th e rise in p e tro le u m
prices, w hich b o th raised th e value o f a given level o f
o u tp u t a n d en co u rag ed exp an sio n in o u tp u t.
In L atin A m erica a n d O th e r W estern H em isp h ere,
th e value ad d e d o f affiliates increased $14.9 b illio n o r
16.5 percen t. T h e largest increases w ere in m a n u fa c tu r
ing, m in in g , a n d “o th e r in d u strie s” (m ain ly retail
trad e). T he increase in m a n u fa c tu rin g was c o n ce n
tra te d in Brazil a n d M exico a n d p a rtly reflected ra p id
eco n o m ic g ro w th in th o se co u n tries. T h e increase in
m in in g o cc u rred m ain ly in O th e r W estern H e m isp h ere
a n d p a rtly reflected expansions in offshore oil a n d gas
ex tractio n in th e C arib b ean . T he increase in retail
tra d e p a rtly reflected th e c o n tin u e d ex p an sio n o f U.S.based d isc o u n t retailers.
In Asia a n d Pacific, th e value ad d ed o f affiliates in
creased $24.4 b illio n o r 15.4 p ercen t. T he largest in
creases w ere in m a n u fa c tu rin g , m in in g , w holesale
tra d e , a n d finance (except ban k s) a n d in su ran ce. T he
increases in m a n u fa c tu rin g w ere largest in Singapore,
A ustralia, Korea, a n d C hina. In A ustralia, th e largest
increases w ere in p rim a ry a n d fab ricated m etal m a n u
factu rin g . In Singapore an d C hina, th e largest increases
Table 10. Value Added of Majority-Owned Nonbank Foreign Affiliates
by Major Area and by Major Industry of Affiliate, 2005 and 2006
[M illio n s o f d o lla rs ]
2005
All areas, all industries.........................................
911,490
2006
995,638
Change
84,148
Percent
c h ange
9.2
Table 9. Sources of Change in Value Added of
Nonbank Majority-Owned Foreign Affiliates, 2005-2006
C a n a d a ...........................................................................................
107,700
114,247
6,547
6.1
[M illio n s o f d o lla rs ]
E u ro p e ............................................................................................
512,235
540,683
28,448
5.6
49,898
78,380
28,583
152,983
50,013
85,285
26,610
154,818
115
6,905
-1 ,9 7 3
1,835
0.2
8.8
- 6 .9
1.2
By area
O f w h ich :
1 2005 level......................................................................................................
911,490
2 Total c h a n g e .........................................................................................................
84,148
3
N ew foreign a ffilia te s .....................................................................................
15,571
F rance....................................................................................
G e rm a n y ...............................................................................
N e th e rla n d s .........................................................................
U nited K in g d o m ..................................................................
4
A cqu ire d by U.S. p a re n ts .........................................................................
4 ,379
Latin A m erica and O th e r W estern H e m isp h e re ...................
5
Established by U.S. p a re n ts.....................................................................
11,192
6
C han ge s in existing operations ’ ................................................................
7 0,895
7
Sales o r liquidations of foreign a ffilia te s ...................................................
-1 2 ,7 3 1
8
O the r changes 2 .............................................................................................
10,413
9 2006 level......................................................................................................
995,638
1. Includes changes resulting from foreign affiliates acquiring, establishing, selling, or liquidating parts of
their consolidated operations. BEA permits survey respondents to consolidate affiliate operations that are in the
same country if the affiliates are also in the same industry or are integral parts of a single business operation.
2. Equals the change in the value added of foreign affiliates not accounted for in lines 3-7, such as changes
resulting from the addition to the survey universe of affiliates that were exempt from reporting in earlier years
and affiliates that were required to report in earlier years but did not. Line 8 will also capture any measurement
error in the items on the other lines, because it is calculated as the difference between line 2 and the sum of
lines 3, 6, and 7.
By area, th e increases in value a d d e d o f fo reign affil
iates w ere w id esp read , b u t th e sh a rp e st increases w ere
in th e M id d le East, L atin A m erica a n d O th e r W estern
H em isp h ere, A frica, a n d Asia a n d Pacific (table 10). In
th e M id d le East, th e value a d d e d o f affiliates increased
$4.7 b illio n o r 53.1 p ercen t; in A frica, it in creased $5.2
billio n o r 15.5 p ercen t. In b o th areas, th e increases
w ere c o n c e n tra ted in m in in g (m ain ly oil a n d gas ex
90,463
105,370
14,907
16.5
B ra z il......................................................................................
M e x ic o ...................................................................................
20,967
25,359
24,900
28,353
3,933
2,994
18.8
11.8
A fr ic a ..............................................................................................
33,406
38,569
5,163
15.5
M iddle E a s t....................................................................................
8,783
13,450
4,667
53.1
A sia and P a c ific ...........................................................................
158,903
183,319
24,416
15.4
32,780
16,221
39,281
39,040
18,413
39,380
6,260
2,192
99
19.1
13.5
0.3
M in in g .............................................................................................
116,464
129,703
13,239
11.4
U tilitie s ............................................................................................
11,700
11,168
-5 3 2
- 4 .5
M a n u fa c tu rin g ...............................................................................
427,690
455,497
27,807
6.5
C om puters and electronic p ro d u c ts ...............................
E lectrical equipm ent, appliances, and com ponents
Transportation e q u ip m e n t................................................
25,454
86,014
16,000
24,723
40,321
10,754
57,947
28,294
86,228
18,881
27,744
47,276
12,115
62,687
2,840
214
2,881
3,021
6,955
1,361
4,740
11.2
0.2
18.0
12.2
17.2
12.7
8.2
W holesale tra d e ............................................................................
132,580
142,512
9,932
7.5
In fo rm a tio n .....................................................................................
37,431
40,607
3,176
8.5
12.3
O f w h ic h :
O f w h ich :
A u s tra lia ................................................................................
C h in a .....................................................................................
J a p a n .....................................................................................
By industry
O f w h ich :
F o o d .......................................................................................
C h e m ic a ls .............................................................................
P rim ary and fabricated m e ta ls........................................
M a c h in e ry .............................................................................
Fin ance (except deposito ry institutions) and in su ra n ce .....
33,885
38,043
4,158
P rofessional, scientific, and technical s e rv ic e s ....................
54,806
57,745
2,939
5.4
O ther in d u s trie s ...........................................................................
96,933
120,364
23,431
24.2
November 2008
U.S. Multinational Companies
34
w ere in c o m p u te rs a n d electro n ic p ro d u c ts m a n u fa c
tu rin g . In K orea, th e largest increases w ere in tra n s p o r
ta tio n e q u ip m e n t m a n u fa c tu rin g . In m in in g , th e
increases w ere c o n c e n tra te d in A ustralia a n d T h ailan d
a n d p a rtly reflected th e rise in p e tro le u m prices. T he
largest increase in w holesale tra d e o c c u rre d in C h in a
a n d p a rtly reflected stro n g eco n o m ic g ro w th in th a t
co u n try . T h e largest in crease in finance o c c u rre d in
H o n g K ong a n d p a rtly reflected g ro w th in in v estm en t
b a n k in g activity related to th e g ro w in g v o lu m e o f new
co rp o ra te securities issued in C hina.
In C an ad a, th e value a d d e d o f affiliates increased
$6.5 b illio n o r 6.1 p ercen t. T he largest increases w ere
in m a n u fa c tu rin g a n d in finance (except banks) a n d
in su ran ce.
In E u ro p e, th e value a d d e d o f affiliates increased
$28.4 b illio n o r 5.6 p ercen t. T h e largest increases w ere
in “o th e r in d u strie s” (m ain ly te m p o ra ry e m p lo y m e n t
service firm s) a n d m a n u fa c tu rin g . T h e increase in
te m p o ra ry e m p lo y m e n t services reflected th e c o n tin
u e d e x p an sio n o f U.S. e m p lo y m e n t service firm s in E u
rope. T h e increase in m a n u fa c tu rin g p a rtly reflected
in creased p ro d u c tio n by G e rm a n affiliates in tra n s p o r
ta tio n e q u ip m e n t.
By in d u stry sector, increases w ere w id esp read b u t
w ere th e largest in m a n u fa c tu rin g an d in “o th e r in d u s
tries.”
Newly acquired or established affiliates. A lth o u g h
m o st o f th e increase in th e value a d d e d o f foreign affil
iates in 2006 resu lted fro m expansions in existing affil
iates, th e a d d itio n o f affiliates th a t w ere new ly acq u ired
o r established d u rin g th e year also c o n trib u te d . D ata
for these affiliates show w here U.S. M N C s have been
ex p an d in g th e ir o p e ra tio n s th ro u g h new b u siness e n
terprises a n d th u s can p ro v id e so m e evidence o f th e
c o u n trie s a n d in d u strie s th a t have offered attractive in
v e stm e n t o p p o rtu n itie s to U.S. M N C s. In 2006, U.S.
M N C s a cq u ired o r established 786 n ew foreign affili
ates, w hich h a d a c o m b in e d value a d d e d o f $15.6 b il
lio n a n d a c o m b in e d e m p lo y m e n t o f 160,700 w orkers
(table 11).
By area, h ig h -in co m e co u n trie s a c c o u n te d for 90
p e rce n t o f th e to ta l value ad d e d o f all new affiliates an d
for 66 p erc en t o f th e ir to ta l em p lo y m e n t. N ew affili
ates in h ig h -in co m e c o u n trie s ac co u n ted for a m u c h
larger share o f th e value a d d e d o f all n ew affiliates th a n
o f th e ir e m p lo y m e n t because th e y te n d to b e in
volved in less labor-in ten siv e in d u strie s th a n affiliates
Table 11. Newly Acquired or Established Nonbank Majority-Owned Foreign Affiliates by Major Area and Industry of Affiliate, 2005 and 2006
2006
2005
N um ber of new ly acquired
o r established affiliates
A cquired
Total
Total............................................................................
775
Value added
(m illions
of dollars)
Established
303
472
20,913
N um ber of
em ployees
(thousands)
225.9
N um ber o f new ly acquired
o r established affiliates
A cquired
Total
786
Value added
(m illions
of dollars)
E stablished
351
435
15,571
N um ber of
em ployees
(thousands)
160.7
By area
C a n a d a ......................................................................................
60
22
38
7,427
15
60
38
22
2,943
16.6
E u ro p e .......................................................................................
421
173
248
6,550
73.9
437
217
220
4,707
77.7
Latin A m e rica and O th er W estern H e m is p h e re .............
108
34
74
1,479
31.2
98
32
66
1,757
18.9
A fric a ..........................................................................................
12
4
8
102
1.6
15
6
9
-1 5 4
0.5
M iddle E a s t...............................................................................
16
7
9
139
3.2
8
3
5
3,381
2.6
A sia and P a c ific .......................................................................
158
63
95
5,216
100.9
168
55
113
2,936
44 .3
H igh-incom e c o u n tr ie s '.........................................................
635
235
400
15,856
109.3
644
280
364
14,057
105.2
U ppe r-m idd le-inco m e c o u n trie s 1 .......................................
65
32
33
938
32.7
64
29
35
772
23.6
Low er-m iddle-incom e c o u n trie s 1........................................
64
32
32
3,839
83.6
71
40
31
749
31.8
Low -incom e c o u n trie s 1..........................................................
11
4
7
280
0.3
7
1
6
-7
0.1
M in in g .........................................................................................
36
14
22
9,332
5.7
29
20
9
5,357
0.7
U tilitie s........................................................................................
4
1
3
309
2.5
6
5
1
62
1.1
M a nufacturing...........................................................................
216
133
83
6,596
131.6
239
151
88
4,518
94.4
By industry
O f w h ic h :
F o o d ......................................................................................
7
4
3
85
3.9
7
4
3
102
2.1
C h e m ic a ls ............................................................................
25
15
10
661
8.4
23
13
10
341
7.6
Prim ary and fabricated m e ta ls .......................................
14
5
9
144
3.0
22
8
14
263
7.9
M a ch in e ry.............................................................................
44
36
8
731
16.3
54
43
11
1,128
21.8
C om puters and electronic p ro d u c ts ..............................
47
26
21
1,582
23.8
55
28
27
1,453
25.4
5
3
2
10
2.2
7
5
2
10
2.5
Transportation e q u ip m e n t................................................
19
8
11
943
13.1
15
12
3
420
9.6
W holesale tr a d e ......................................................................
77
37
40
415
5.7
91
51
40
970
11.9
In fo rm a tio n ...............................................................................
35
17
18
2,288
17.2
26
15
11
192
4.8
Finance (except d e pository institutions) and insurance
131
14
117
503
5.7
135
28
107
2,899
3.3
E lectrical equipm ent, appliances, and com ponents
Professional, scientific, and technical s e rv ic e s ..............
39
15
24
410
7.3
37
17
20
164
5.0
O the r in d u s trie s .......................................................................
237
72
165
1,059
50.2
223
64
159
1,409
39.5
118
27
91
-9 6 4
1.8
128
36
92
-6 9
0.8
O f w h ic h :
H olding c o m p a n ie s............................................................
1. As classified by the World Bank.
N o te . The statistics in this table cover only newly acquired or established affiliates. They exclude data fo r
consolidated units of existing affiliates that were acquired or established during the year.
November 2008
Survey of Current Business
in lo w -to -m id d le -in c o m e c o u n trie s a n d in given
in d u stries, these m ay em p lo y less lab o r-intensive
p ro d u c tio n processes.5 N ew affiliates in tw o c o u n
tries— C h in a a n d M exico— a c c o u n te d fo r over h a lf o f
th e e m p lo y m e n t o f n ew affiliates in lo w -to -m id d le -in com e co u n tries. R oughly h a lf o f th e p ro d u c tio n by
new affiliates in th ese c o u n trie s was d irected to w ard
cu sto m ers in th e h o st c o u n try a n d th e o th e r h a lf was
directed to w a rd cu sto m ers in o th e r foreign co u n tries
o r in th e U n ite d States; sales to th e U n ited States ac
c o u n te d fo r 29.0 p e rc e n t o f th e ir to ta l sales in 2006.
For n ew affiliates a n d o n g o in g affiliate o p era tio n s
co m b in e d in these tw o co u n trie s, sales to th e U nited
States a c c o u n te d for 17.2 p ercen t o f th e ir to ta l sales.
By in d u stry , m a n u fa c tu rin g c o n tin u e d to be am o n g
th e lead in g in d u strie s fo r n ew in v estm en ts in 2005.6
N ew m a n u fa c tu rin g affiliates acco u n te d fo r 30.4 p e r
cen t o f all n ew affiliates, fo r 29.0 p e rc e n t o f th e ir value
ad d ed , a n d for 58.7 p e rc e n t o f th e ir e m p lo y m en t.
Affiliate share of host-country GDP. Value ad d e d
o f fo reig n affiliates rep resen ts th ese firm s’ c o n trib u tio n
to a h o st c o u n try ’s G D R T h e share o f th e h o st c o u n
try ’s G D P a c c o u n te d fo r b y th e value a d d e d o f affiliates
reflects b o th th e c o u n try ’s attractiv en ess to U.S. M N C s
as a lo c a tio n fo r p ro d u c tio n a n d th e c o u n try ’s o p e n
ness to fo reig n d irect inv estm en t.
T h e affiliate share o f h o s t-c o u n try G D P p ro b a b ly
reflects a v ariety o f factors, in c lu d in g ch aracteristics o f
th e h o s t co u n try , such as bu sin ess in fra stru c tu re , m a c
ro e c o n o m ic c o n d itio n s, a n d co m m ercial policies (such
as ta x a tio n a n d re g u lato ry policies) o f h o s t g o v ern
m en ts. In a d d itio n , th e affiliate share o f h o s t-c o u n try
G D P ap p ears to b e related to lin g u istic a n d c u ltu ral
sim ilarities b etw een th e h o st c o u n try a n d th e U n ited
States. Use o f th e E nglish language is w id esp read in all
o f th e h o st c o u n trie s in tab le 12 th a t a c c o u n ted for th e
five largest affiliate shares in 2006— Irelan d , Singapore,
N igeria, C an ad a, a n d th e U n ited K ingdom ; in con trast,
th e use o f E nglish is w id esp read in o n ly o n e o f th e h o st
c o u n trie s w ith th e five sm allest affiliate shares— India.
T h e value a d d e d o f affiliates a n d th erefo re th e affili
ate share o f h o s t-c o u n try G D P also can b e in fluenced
b y fin an cial ac c o u n tin g strategies th a t som e U.S.
5. For evidence th at U.S. m ultinationals som etim es tailor their produc
tion process to conform with host country factor endow m ents, see M aria
Borga and Robert E. Lipsey, “Factor Prices and Factor Substitution in U.S.
Firm s’ M anufacturing Affiliates Abroad,” N ational Bureau of Economic
Research working paper no.10442 (April 2004).
6. “H olding com panies” also accounted for a large share (15.9 percent) of
the nu m b er o f new affiliates b u t for very little of their em ploym ent or value
added. In the last two decades, the num ber of foreign affiliate holding com
panies has increased sharply, b ut this trend has had very little effect on the
value added or em ploym ent of foreign affiliates because the prim ary activ
ity o f these com panies is holding the securities or financial assets o f other
companies.
35
M N C s em p lo y to reduce th e ir tax liabilities.7 Because
firm s can exercise d iscretio n over w here th e y recognize
in co m e resu ltin g fro m th e use o f an in tan g ib le asset,
th e geog rap h ic allo catio n o f value ad d ed can becom e
d isco n n ected fro m w here th e in tan g ib le asset is p r o
duced. A U.S. M N C m ig h t, for exam ple, p ro d u c e a
com m ercial in n o v a tio n in o n e c o u n try a n d th e n locate
th e o w n ersh ip rig h ts to th a t in n o v a tio n in an affiliate
in a low er tax c o u n try to red u ce th e tax liability o n th e
strea m o f in co m e g en erated b y this in n o v atio n . A l
th o u g h th e affiliate in th e low er tax c o u n try m ay ad d
7. For example, see Robert E. Lipsey, “D efining and M easuring the Loca
tion of FDI O utput,” National Bureau of Econom ic Research working paper
no. 12996 (M arch 2007).
Table 12. Value Added of Nonbank Majority-Owned Foreign Affiliates
as a Percentage of GDP of Selected Host Countries, 2005 and 2006
2005
2006
22.1
12.5
10.9
9.1
6.6
Ire la n d ..................................................................................................
S in g a p o re ...........................................................................................
N ig e ria .................................................................................................
C a n a d a ................................................................................................
U nited K in g d o m ................................................................................
18.5
15.0
6.7
H o n d u ra s ............................................................................................
S w itz e rla n d .........................................................................................
C osta R ic a ..........................................................................................
B e lg iu m ................................................................................................
Hong K o n g ..........................................................................................
5.8
5.0
6.0
4.9
4.7
6.3
6.0
5.7
5.7
M a la ysia ..............................................................................................
A u s tra lia ..............................................................................................
P e ru ......................................................................................................
N o rw a y.................................................................................................
T h a ila n d ..............................................................................................
5.3
4.3
4.3
5.5
3.9
5.2
5.1
4.6
4.6
4.2
N e th e rla n d s .......................................................................................
A rg e n tin a ............................................................................................
M e x ic o .................................................................................................
C h ile .....................................................................................................
P h ilip p in e s ..........................................................................................
4.3
4.0
3.3
3.1
3.3
4.0
3.8
3.4
3.3
3.3
H u n g a ry ...............................................................................................
V e n e z u e la ...........................................................................................
G e rm a n y .............................................................................................
C o lo m b ia .............................................................................................
Is ra e l....................................................................................................
2.6
3.6
2.7
2.6
2.2
3.0
3.0
2.9
2.9
2.8
N ew Z e a la n d ......................................................................................
E g yp t....................................................................................................
C zech R ep u b lic..................................................................................
S w e d e n ................................................................................................
3.3
3.3
2.7
2.9
2.8
2.7
2.7
2.7
2.6
2.6
B ra z il....................................................................................................
U nited Arab E m ira te s.......................................................................
F ra n ce ..................................................................................................
D e n m a rk .............................................................................................
P o rtu g a l..............................................................................................
2.1
1.0
2.3
1.7
2.4
2.3
2.3
2.2
2.2
2.2
S outh A fr ic a .......................................................................................
P o la n d ..................................................................................................
E c u a d o r..............................................................................................
Ita ly .......................................................................................................
A u stria ..................................................................................................
1.9
1.9
2.7
1.6
1.7
2.2
1.9
1.7
1.7
1.6
F in la n d .................................................................................................
S pain....................................................................................................
Turkey ..................................................................................................
R epublic of K o re a .............................................................................
1.7
1.7
1.4
1.1
1.0
1.6
1.5
1.4
1.4
1.2
G re e c e .................................................................................................
J a p a n ...................................................................................................
C h in a ...................................................................................................
In d ia .....................................................................................................
R u ssia ..................................................................................................
S audi A ra b ia ......................................................................................
1.3
1.1
0.7
0.5
0.4
0.1
1.2
0.9
0.7
0.6
0.4
0.1
Weighted average of countries show n1..............................
2.8
2.9
9.5
6.2
5.6
1. The average share of host-country GDP in these countries was derived as a weighted average in terms of
host-country GDR
N o te s . The countries are sorted in descending order of their 2006 shares. If two countries have the same
2006 share, they were sorted using unrounded shares.
Gross domestic product data for host countries were obtained from the World Bank Web site.
GDP Gross domestic product
36
U .S . M u ltin a tio n a l C o m p a n i e s
som e value to th e o rig in al in n o v a tio n — for exam ple,
by m a n u fa c tu rin g a d ru g th a t was d eveloped in a n
o th e r c o u n try — so m e analysts believe th a t strategic
co n sid eratio n s co m p el co m p an ies to a ttrib u te a d is
p ro p o rtio n a te share o f in co m e to h o st c o u n tries in
w hich th e tax o r re g u lato ry re q u ire m e n ts are relatively
light.
R eal v a lu e a d d e d in m a n u fa c tu rin g . In a d d itio n to
th e c u rre n t-d o lla r estim ates o f value ad d e d o f foreign
affiliates, BEA p rep ares estim ates o f th e real value
a d d e d o f foreign affiliates in m a n u fa c tu rin g . T hese es
tim ates p ro v id e m o re m ean in g fu l c o m p ariso n s o f
value ad d e d o f foreign affiliates across c o u n tries an d
November 2008
over tim e th a n th e c u rre n t-d o lla r estim ates. C o m p a ri
sons across c o u n tries are en h a n c ed because th e esti
m ates in real term s are based on p u rch asin g pow er
p a rity (PPP) exchange rates ra th e r th a n o n m a rk e t ex
change rates.8 C o m p ariso n s over tim e are en h an ced
because th e estim ates are d e n o m in a te d in ch ain ed
(2002) dollars th a t acc o u n t for b o th changes in prices
an d changes in th e in d u stry m ix o f p ro d u c tio n by
m a n u fa c tu rin g affiliates. T he estim ates are restricted to
m a n u fa c tu rin g because th e source d ata necessary for
th e a d ju stm e n ts are unavailable for o th e r in d u stries.
T he real value ad d ed o f foreign affiliates in m a n u
factu rin g increased 3.4 p e rc en t to $367.2 b illion in
K ey T e rm s
The following key terms are used to describe U.S. m ulti
national companies (MNCs) and their operations.1
U.S. M N C s
U.S. m u ltin atio n al com pany (U.S. MNC). The U.S. par
ent and its foreign affiliates. (In this article, an MNC is
usually defined as the U.S. parent and its majority-owned
foreign affiliates.)
U.S. parent. A person, resident in the United States,
that owns or controls 10 percent or more of the voting
securities, or the equivalent, of a foreign business enter
prise. “Person” is broadly defined to include any individ
ual, branch, partnership, associated group, association,
estate, trust, corporation, or other organization (whether
or not organized under the laws of any state), or any gov
ernm ent entity. If incorporated, the U.S. parent is the
fully consolidated U.S. enterprise consisting of (1) the
U.S. corporation whose voting securities are not owned
m ore than 50 percent by another U.S. corporation and
(2) proceeding down each ownership chain from that
U.S. corporation, any U.S. corporation whose voting
securities are m ore than 50 percent owned by the U.S.
corporation above it. A U.S. parent comprises the domes
tic operations o f a U.S. MNC, covering operations in the
50 states, the District of Columbia, the Commonwealth
of Puerto Rico, and all other U.S. areas.
U.S. direct investm ent abroad. The ownership or con
trol, directly or indirectly, by one U.S. person of 10 per
cent or more of the voting securities of an incorporated
foreign business enterprise or the equivalent interest in
an unincorporated business enterprise.
Foreign affiliate. A foreign business enterprise in
which there is U.S. direct investment, that is, in which a
U.S. person owns or controls (directly or indirectly) 10
percent or more o f the voting securities or the equivalent.
Foreign affiliates comprise the foreign operations of a
U.S. MNC over which the parent is presumed to have a
degree of managerial influence.
This article focuses on the operations of majorityowned foreign affiliates; for these affiliates, the combined
ownership of all U.S. parents exceeds 50 percent. In 2006,
these affiliates accounted for 87 percent of the employ
m ent of all foreign affiliates of U.S. MNCs, up from 84
percent in 1999.
M ea su re s o f o p e ra tio n s 2
Value added. The portion of the goods and services sold
or added to inventory or fixed investment by a firm that
reflects the production of the firm itself. It represents the
firm’s contribution to gross domestic product in its
country of residence, which is the value of goods and ser
vices produced by labor and property located in that
country. Compared with sales, value added is a preferable
measure of production because it indicates the extent to
which a firm’s sales result from its own production rather
than from production that originates elsewhere, whereas
sales data do not distinguish between these two sources
of production. Value added can be measured as gross
output minus intermediate inputs; alternatively, it can be
measured as the sum of the costs incurred (except for
intermediate inputs) and the profits earned in produc
tion. The value-added estimates presented in this article
were prepared by summing the cost and profits data col
lected in the annual and benchm ark surveys of U.S. direct
investment abroad.3
Em ploym ent. The num ber of full-time and part-tim e
employees on the payroll at yearend. If the employment
of a parent or an affiliate was unusually high or low
because of tem porary factors (such as a strike) or large
seasonal variations, the num ber that reflected normal
operations or an average for the year was requested.
2. D ata on the operations of U.S. M NCs cover the survey respondent’s
fiscal year ending in the reference year o f the data.
3. For the derivation of the current-dollar value-added estimates, see
1. For a com prehensive discussion of the term s and the concepts used,
Raym ond J. M ataloni Jr. and Lee Goldberg, “Gross Product o f U.S. M ul
see Raym ond J. M ataloni Jr., “A Guide to BEA Statistics on U.S. M ulti
tinational Companies, 1977-91,” S u r v e y 74 (February 1994): 57.
national Companies,” S u r v e y 75 (M arch 1995): 38-55.
November 2008
37
Survey of Current Business
2006 (table 13). T h e 27 c o u n trie s fo r w h ich estim ates
are separately available acco u n ted for 73.9 p erc en t o f
th e total. T h e real value a d d e d o f m a n u fa c tu rin g affili
ates in th ese c o u n trie s in creased 0.8 p e rc e n t to $271.2
b illion, in c o n tra st to a 3.8 p e rc e n t increase in to tal
m a n u fa c tu rin g p ro d u c tio n in these c o u n trie s (ch a rt
2). Sharp increases in th e R epublic o f K orea (25.8 p e r
cen t), S w itzerland (25.0 p erc e n t), a n d th e Slovak Re
p u b lic (22.2 p ercen t) w ere p a rtly offset by decreases in
N orw ay (25.0 p e rc e n t), th e N e th e rla n d s (21.7 percen t),
a n d France (9.6 p erc e n t). In th e R epublic o f Korea, real
value a d d e d o f foreign affiliates in creased $1.6 billion
to $7.8 b illio n, p a rtly reflecting a rise in p ro d u c tio n
fo r e x p o rt by affiliates p ro d u c in g goods su ch as a u to
m ob iles a n d se m ico n d u cto rs. In Sw itzerland, th e real
value a d d e d increased $0.8 b illio n to $4.0 billion,
C h a r t
2 .
R e a l V a lu e
F o r e ig n
A ffilia te s
P r o d u c tio n
in
2 7
A d d e d
in
M
o f
M
a jo r ity - O
a n u fa c tu r in g
S e le c te d
a n d
C o u n tr ie s ,
w n e d
In d u s tr ia l
1 9 9 9 - 2 0 0 6
Index(2002=100)
120
110
100
90
80
70
8. To translate the value-added estimates that are denom inated in foreign
currencies into U.S. dollars for international com parisons, PPP exchange
rates generally are preferable, because they approxim ate the num ber of for
eign currency units required in a foreign country to buy the goods and ser
vices that are equivalent to those that can be bought in the U nited States
with 1 U.S. dollar. A distinguishing feature of PPP exchange rates is that
they are based on the prices of all goods and services produced or sold in a
country, both those that are traded internationally and those that are not.
For details and for a sum m ary of the m ethodology used to derive the esti
mates o f real value added, see Raymond }. M ataloni Jr., “Real Gross Product
o f U.S. C om panies’ M ajority-O w ned Foreign Affiliates in M anufacturing,”
S u r v e y o f C u r r e n t B u sin ess 7 7 (April 1 9 9 7 ) : 8 - 1 7 .
60
MOFAs Majority-owned foreign affiliates
N o te . The 2 7 selected countries are Australia, Austria, Bulgaria, Canada,
the Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Japan,
Lithuania, Mexico, the Netherlands, Norway, Poland, Portugal, the Slovak Republic, Slovenia,
South Korea, Spain, Sweden, Switzerland, and the United Kingdom.
The composite index of host-country industrial production was derived by weighting each
country's index by the country's share in the dollar value of real value added of MOFAs in manufacturing.
U.S. Bureau of Economic Analysis
Table 13. Real Value Added of Majority-Owned Foreign Affiliates in Manufacturing by Country, 1999-2006
Share of all-countries total (percent)
B illions of chained (2002) dollars
1999
2000
2001
2002
2003
2004
2005
2006
1999
2000
2001
2002
2003
2004
2005
2006
A ll c o u n t r ie s ..............................................
334.1
341.1
333.8
338.6
336.4
362.3
355.0
367.2
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
2 7 s e le c te d c o u n tr ie s .............................
282.5
282.0
278.9
283
272.8
283.1
269.0
271.2
84.6
82.7
83.6
83.6
81.1
78.1
75.8
73.9
A u s tra lia ........................................................
A u s tria ...........................................................
B u lg a ria .........................................................
8.9
1.8
10.0
1.8
0.1
9.1
1.6
0.2
7.4
1.4
0.2
8.0
1.7
0.2
7.9
1.8
0.2
9.0
1.9
0.2
2.7
0.5
(*)
2.9
0.5
0.1
3.0
0.5
0.0
2.7
(*)
9.8
1.8
0.2
0.5
0.1
2.2
0.4
0.1
2.2
0.5
0.1
2.2
0.5
0.1
2.5
0.5
0.1
C a n a d a ..........................................................
Czech R e p u b lic ...........................................
D e n m a rk.......................................................
52.2
2.1
0.8
54.3
2.2
0.9
50.7
2.6
0.7
49.6
2.6
0.9
49.2
2.4
0.7
51.1
3.2
0.7
42.1
3.3
0.8
43.8
3.5
0.9
15.6
0.6
0.2
15.9
0.6
0.3
15.2
0.8
0.2
14.6
0.8
0.3
14.6
0.7
0.2
14.1
0.9
0.2
11.9
0.9
0.2
11.9
1.0
0.2
F in la n d ..........................................................
F ra n c e ...........................................................
G e rm a n y ......................................................
0.7
22.3
45.4
0.7
22.1
37.0
0.7
22.0
36.5
0.6
21.6
35.6
0.4
21.2
30.6
0.8
20.6
36.7
0.9
20.8
36.6
0.9
18.8
38.8
0.2
6.7
13.6
0.2
6.5
10.8
0.2
6.6
10.9
0.2
6.4
10.5
0.1
6.3
9.1
0.2
5.7
10.1
0.3
5.9
10.3
0.2
5.1
10.6
G re e c e ..........................................................
H u n g a ry .......................................................
Ire la n d ...........................................................
0.5
1.7
12.5
0.6
1.8
14.1
0.5
1.6
15.1
0.5
2.1
19.5
0.5
1.6
17.0
1.8
1.3
16.5
2.0
1.7
17.3
1.9
1.9
18.5
0.1
0.5
3.7
0.2
0.5
4.1
0.1
0.5
4.5
0.1
0.6
5.8
0.1
0.5
5.1
0.5
0.4
4.6
0.6
0.5
4.9
0.5
0.5
5.0
Ita ly.................................................................
Japan ............................................................
L ith u a n ia .......................................................
19.9
8.2
0.1
19.1
11.6
0.2
20.0
14.1
0.2
18.7
12.5
0.1
17.7
12.1
0.1
16.9
11.6
0.1
15.7
6.1
0.2
14.9
5.9
0.2
6.0
2.5
0.0
5.6
3.4
0.1
6.0
4.2
0.1
5.5
3.7
0.0
5.3
3.6
0.0
4.7
3.2
0.0
4.4
1.7
0.1
4.1
1.6
0.1
M e x ic o ...........................................................
N e th e rla n d s.................................................
N o rw a y ..........................................................
19.6
11.7
1.4
20.5
11.9
1.3
20.7
11.6
1.4
21.4
12.0
1.4
23.9
11.0
1.5
22.0
11.4
1.5
21.1
12.9
1.6
21.6
10.1
1.2
5.9
3.5
0.4
6.0
3.5
0.4
6.2
3.5
0.4
6.3
3.5
0.4
7.1
3.3
0.4
6.1
3.1
0.4
5.9
3.6
0.5
5.9
2.8
0.3
P o a n d ...........................................................
P o rtu g a l........................................................
Slovak R ep u b lic..........................................
1.9
1.2
0.2
3.3
2.9
0.2
3.8
2.8
0.9
4.2
2.8
1.4
4.9
2.6
1.5
5.8
2.5
1.7
5.8
2.3
1.8
6.7
2.1
2.2
0.6
0.4
0.1
1.0
0.9
0.1
1.1
0.8
0.3
1.2
0.8
0.4
1.5
0.8
0.4
1.6
0.7
0.5
1.6
0.6
0.5
1.8
0.6
0.6
S love nia .........................................................
S outh K o re a ................................................
S p a in .............................................................
0.1
1.8
9.3
0.2
2.8
9.3
0.2
2.8
9.4
0.1
3.9
9.4
0.1
4.3
8.8
0.1
5.3
8.6
0.2
6.2
8.8
0.2
7.8
9.2
0.0
0.5
2.8
0.1
0.8
2.7
0.1
0.8
2.8
0.0
1.2
2.8
0.0
1.3
2.6
0.0
1.5
2.4
0.1
1.7
2.5
0.1
2.1
2.5
S w e d e n .........................................................
S w itze rla n d ...................................................
U nited K ingdom ..........................................
2.6
2.5
50.1
3.2
3.0
46.2
3.1
1.8
43.2
3.2
2.0
44.3
4.1
2.1
44.1
4.6
2.8
44.5
3.8
3.2
45.6
3.7
4.0
45.0
0.8
0.7
15.0
0.9
0.9
13.5
0.9
0.5
12.9
0.9
0.6
13.1
1.2
0.6
13.1
1.3
0.8
12.3
1.1
0.9
12.8
1.0
1.1
12.3
A ll othe r c o u n trie s ......................................
51.9
59.1
54.9
56.0
63.7
79.9
87.5
98.4
15.5
17.3
16.4
16.5
18.9
22.1
24.6
26.8
2.7
0.8
0.6
1.3
1.3
0.4
-3 .2
-6 .1
* Less than $500,000 or less than 0.05 percent.
N o te . For most of the 27 selected countries, only the 2005 estimates are revised, based on information from
1. Because the formula for the chain-type quantity indexes uses weights of more than one period, the correthe final results of the 2005 Annual Survey of U.S. Direct Investment Abroad. For a few of the countries,
sponding chained-dollar estimates are usually not additive. The residual line is the difference between the first
however, the revisions affect years prior to 2005 because other source data— primarily host-country producer
line and the sum of the most detailed lines.
price index data— have been revised.
38
U.S. Multinational Companies
p a rtly reflecting a rise in p ro d u c tio n for e x p o rt b y affil
iates in th e p h a rm a c e u tica l in d u stry . In th e Slovak
R epublic, th e real value a d d e d in creased $0.4 billio n to
$2.2 b illio n , p a rtly reflecting a rise in p ro d u c tio n for
e x p o rt, w h ich m ay have b een related to th e h o st c o u n
tr y ’s accession to th e E u ro p e a n U n io n 2 years earlier.
In th e N eth e rla n d s, th e real value a d d e d decreased
$2.8 b illio n to $10.1 billio n , p a rtly reflecting red u ced
p ro d u c tio n for e x p o rt b y affiliates p ro d u c in g tobacco
p ro d u c ts, w h ich m ay have b een related to a rise in th e
excise taxes o n th o se p ro d u c ts in so m e E u ro p ean
c o u n trie s. In N orw ay, real value a d d e d o f foreign affili
ates d ecreased $0.4 b illio n to $1.2 billion; in France,
real value a d d e d decreased $2.0 b illio n to $18.8 billion.
T he decreases in th ese c o u n trie s largely reflected th e
co m p lete o r p a rtia l sales o f p a re n ts’ e q u ity in te re st in
foreig n affiliates.
T h e real value a d d e d o f foreign affiliates in th e
c o u n trie s o th e r th a n th e 27 selected c o u n trie s show n
in table 13 increased 12.5 p e rc e n t to $98.4 billion.
B ased o n th e m a rk e t-e x ch a n g e -ra te -b a se d estim ates,
th e increase was p a rtic u la rly ra p id in Asia a n d Pacific.
R e s e a rc h a n d d e v e lo p m e n t
N ovem ber
2008
recen t years in certain c o u n trie s in Asia a n d P a
cific— p a rtic u la rly C h in a a n d Singapore. T his g ro w th
p a rtly reflects th e increasing im p o rta n c e o f E ast A sian
cu sto m ers in th e m ark e tin g strategies o f U.S. M N C s,
th e n eed to develop p ro d u c ts to m ee t th e tastes o f
th o se co n su m ers, an d th e grow ing technological cap a
bilities o f th o se co u n tries.
By area, th e largest increase in R&D e x p en d itu res
was in Asia a n d Pacific. By in d u stry sector, th e largest
increases w ere in in fo rm a tio n a n d in professional, sci
entific, an d technical services.
A p a rtly offsetting decrease in R&D ex p en d itu res
o ccu rre d in France, w hich p a rtly reflected th e afore
m e n tio n e d sales o f p a re n ts’ eq u ity in terest in foreign
affiliates.
Table 14. Research and Development Performed by
Majority-Owned Nonbank Foreign Affiliates by Major Area
and by Major Industry of Affiliate, 2005 and 2006
[Millions of dollars]
All areas, all industries........................................
2005
2006
C hange
27,653
28,484
831
P ercent
change
3.0
By area
E x p en d itu res fo r R&D p e rfo rm e d b y foreign affiliates
o f U.S. c o m p an ies in creased 3.0 p e rc e n t to $28.5 b il
lio n in 2006 (table 14). R&D ex p e n d itu re s c o n tin u e d
to b e c o n c e n tra te d in a sm all n u m b e r o f h o st c o u n
tries. T h e to p tw o h o st c o u n trie s— th e U n ited K ing
d o m a n d G erm an y — to g e th e r a c c o u n te d for over a
th ird o f th e a ll-c o u n trie s to tal, well above th e ir 24 p e r
c en t share o f foreign affiliate value ad d ed . T h e c o n d u c t
o f R&D in large, h ig h -in c o m e foreign c o u n trie s is a
lo n g sta n d in g te n d e n c y th a t p a rtly reflects efforts to in
c o rp o ra te local c o n su m e r tastes in p ro d u c t design by
p e rfo rm in g R&D in th e largest foreign m ark ets an d th e
availability o f college g rad u ates in th o se c o u n trie s th a t
are tech n ically tra in e d . Based o n 2004 d a ta fro m th e
O rg a n isa tio n fo r E co n o m ic C o -o p e ra tio n a n d D evel
o p m e n t (O E C D ), th e p ercen tag e o f all college degrees
aw ard ed in th e areas o f science a n d e n g in eerin g was 31
p e rc e n t fo r G erm a n y a n d 28 p e rc e n t fo r th e U n ited
K in g d o m , c o m p a re d w ith 22 p e rc e n t fo r th e O EC D
c o u n trie s as a w h o le.9 G ro w th in R&D ex p en d itu res
by fo reig n affiliates, how ever, has b een m o st ra p id in
9. OECD, Science, Technology, and Industry Scoreboard 2007 (2007).
C a n a d a ........................................................................................
2,433
2,503
70
2.9
E u ro p e .........................................................................................
18,805
18,628
-1 7 7
- 0 .9
2,248
4,609
392
5,406
1,447
4,919
486
5,378
-8 0 1
310
94
-2 8
-3 5 .6
6.7
24.0
- 0 .5
O f w h ich :
F ra n ce ................................................................................
G e rm a n y ............................................................................
N e th e rla n d s ......................................................................
U nited K in g d o m ...............................................................
841
865
24
2.9
B ra z il...................................................................................
M e x ic o ...............................................................................
405
571
166
41.0
(D)
(D)
(D)
(D)
A fric a ............................................................................................
40
65
25
62 .5
Latin A m erica and O ther W estern H e m is p h e re ...............
O f w h ic h :
M iddle E a s t................................................................................
770
847
77
10.0
A sia and P a c ific ........................................................................
4,764
5,575
811
17.0
556
668
1,717
576
596
804
1,739
850
40
136
22
27 4
7.2
20.4
1.3
47.6
M in in g ..........................................................................................
13
17
4
30.8
U tilitie s .........................................................................................
5
8
3
60.0
M a n u fa c tu rin g ............................................................................
23,508
23,638
130
0.6
358
6,589
303
938
4,822
623
8,021
437
6,166
320
1,128
4,874
651
8,342
79
-4 2 3
17
190
52
28
321
22.1
- 6 .4
5.6
20.3
1.1
4.5
4.0
O f w h ic h :
A u s tra lia .............................................................................
C hina
Japan
S in g a p o re .........................................................................
By industry
O f w h ich :
Fo o d ....................................................................................
C h e m ic a ls .........................................................................
Prim ary and fabricated m e ta ls .....................................
M a c h in e ry .........................................................................
Com puters and electronic p ro d u c ts ...........................
E lectrical equipm ent, appliances, and com ponents
Transportation e q u ip m e n t.............................................
W holesale tra d e ........................................................................
931
1,017
86
9.2
In fo rm a tio n .................................................................................
689
1,014
325
47.2
-2 0 .0
5
4
-1
Professional, scientific, and technical s e rv ic e s .................
2,371
2,688
317
13.4
O ther in d u s trie s ........................................................................
132
97
-3 5
-2 6 .5
Finance (except d e pository in stitutions) and insurance
D Suppressed to avoid disclosure of data of individual companies.
Tables 15.1 through 19.2 follow.
N ovem ber
Survey of C urrent Business
2008
39
Table 15.1. Selected Data for Nonbank U.S. Parents by Industry of U.S. Parent, 2005
M illions o f dollars
Sales
Total
assets
Total
G oods
Services
Investm ent
in c o m e 1
Net
incom e
R esearch
C apital
and
expenditures developm ent
expenditures
Value
a dded
C om pensation
of em ployees
T h ousands
of
em ployees
All industries................................................................
17,196,187
7,756,125
5,191,635
2,243,590
320,899
657,702
377,182
177,598
2,321,092
1,281,321
21,472.0
Mining..........................................................................................
265,859
99,062
78,799
19,532
732
32,758
20,539
403
60,080
15,116
186.8
O il and gas e xtractio n.................................................................
O th e r ...............................................................................................
152,457
113,402
52,360
46,702
50,354
28,444
(D)
(D)
(D)
(D)
24,569
8,189
14,653
5,886
(D)
(D)
37,445
22,636
3,933
11,183
29 .7
157.1
Utilities.........
591,482
223,581
13,611
207,366
2,605
8,679
24,196
31
83,195
23,157
256.0
4,983,958
3,612,450
3,398,176
141,019
73,255
318,577
159,138
143,335
1,005,149
549,668
7,591.1
F o o d ...........
B everages and to b acco p ro d u c ts ............................................
Textiles, apparel, and lea ther p ro d u c ts..................................
W ood p ro d u c ts .............................................................................
P a p e r......................................
P rin ting an d related s up port a c tiv itie s ....................................
Petroleum and coal p ro d u c ts ....................................................
C h e m ic a ls ............................
Basic c h e m ic a ls .............
Resins and synth e tic rubber, fibers and fila m e n ts..........
P ha rm ace utica ls an d m e a ic in e s ........................................
Soap, cleaning com pounds, and toilet p re p a ra tio n s .....
O th e r..........................................................................................
P la stics and ru bb er p ro du cts....................................................
N o n m e ta llic m ineral p ro d u c ts ...................................................
P rim a ry an d fa brica te d m e ta ls ................................................
P rim a ry m e ta ls ........................................................................
Fabricated m etal p rod ucts....................................................
M a c h in e ry .....................................................................................
A griculture, construction, and m ining m a c h in e ry ...........
Industrial m a c h in e ry ...............................................................
O th e r..........................................................................................
C om puters and electronic p ro d u c ts .......................................
Com puters and peripheral e q u ip m e n t...............................
Com m unications equip m e n t.................................................
Audio and vid e o e q u ip m e n t..................................................
Sem iconductors and oth e r electronic c o m p o n e n ts .......
N avigational, m e asuring, and oth e r in s tru m e n ts............
M ag ne tic an d op tical m e d ia .................................................
E lectrical eq uipm ent, ap pliances, and c o m p o n e n ts ...........
Transportation e q u ip m e n t..........................................................
M otor vehicles, b odies and trailers, and p a rts .................
O th e r..........................................................................................
F urniture and related p ro d u c ts .................................................
M iscellaneous m anu fa ctu rin g ...................................................
279,439
216,943
26,123
35,460
102,592
21,208
538,286
847,330
103,489
89,042
475,980
95,083
83,737
75,090
59,973
162,427
110,243
52,184
243,576
126,209
31,772
85,595
505,557
111,471
125,634
10,474
177,430
78,799
1,748
71,638
1,641,545
1,010,785
6 30,759
21,993
134,779
273,026
111,694
33,361
28,414
79,726
19,666
765,134
487,197
93,067
57,701
218,901
56,200
61,328
71,768
41,524
172,713
117,879
54,834
182,682
69,651
26,186
86,846
313,153
80,354
270,884
106,786
33,317
1,069
1,073
(D)
43
(D)
1
18,168
22,118
1,519
6,775
3,900
832
27,753
79,513
19,286
745,206
482,800
(D)
200
356
19,483
4,236
(D)
(D)
217,951
(D)
(D)
877
(D)
(D)
69,208
41,345
166,850
113,840
53,010
170,422
65,390
24,505
80,526
291,758
(D)
(D)
2,560
179
5,762
3,938
1,824
9,431
(D)
14
24
445
162
3
82
73
3
1
0
0
101
101
0
2,830
(D)
64
(D)
21,358
68,348
8,295
97,949
57,285
922
70,003
855,265
539,573
315,692
25,520
81,604
(D)
63,921
(D)
4,427
(D)
(D)
5 0,974
(D)
6,276
(D)
68,685
724,322
479,891
244,431
25,047
74,998
(D)
1,319
67,030
20,088
46,942
75
5,995
(D)
37
0
0
0
2
35
0
0
63,913
39,594
24,320
398
611
825
2,903
812
16,087
20,267
3,319
2,742
11,090
1,483
1,633
2,475
1,744
5,247
4,027
1,220
5,927
2,491
935
2,501
14,957
2,068
3,060
241
8,296
1,263
30
1,894
70,804
56,515
14,290
446
3,241
63,164
53,326
10,710
9,214
31,053
11,442
137,860
179,117
23,506
21,627
88,754
23,851
21,379
24,514
18,766
56,631
35,141
21,490
53,293
16,188
7,972
29,133
105,889
13,107
25,421
2,150
40,395
24,439
378
23,198
182,729
70,769
111,960
9,315
34,928
34,525
17,941
7,018
4,885
17,548
6,147
27,282
86,779
10,909
9,431
45,419
8,780
12,239
15,981
8,209
34,887
20,503
14,383
38,103
12,149
5,305
20,650
66,752
12,392
13,955
1,729
22,036
16,350
290
15,404
139,352
63,532
75,819
6,499
22,356
644.8
2 34.7
153.7
74.3
234.5
129.5
218.9
893.3
114.2
97.1
411.0
114.3
156.7
269.2
136.7
(D)
1,616
1,539
7,193
1,891
83,260
78,356
5,007
7,708
50,681
12,962
1,998
3,399
5,386
10,487
7,079
3,409
14,324
6,291
3,233
4,799
36,350
2,437
10,922
-4 2
18,230
4,706
98
3,672
21,370
-8 ,7 6 8
30,137
1,251
8,293
1,311
502
195
113
1,408
96
2,155
45,004
1,381
2,510
36,352
2,510
2,252
1,079
389
1,165
544
621
5,492
1,955
1,210
2,327
36,560
7,015
9,255
360
15,020
4,807
103
1,618
41,692
18,687
23,005
217
4,341
544.9
304.9
240.1
592.4
147.2
99.1
346.1
841.7
167.0
165.0
25.4
2 43 .4
2 36.7
4.0
257.7
1,892.0
971.4
920.6
124.9
348.0
Wholesale trade........................................................................
663,791
824,274
770,882
46,471
6,921
43,208
21,141
5,072
128,124
61,570
1,013.6
P rofessional and com m ercial equipm ent and s u p p lie s .....
Petroleum and p etroleum p ro d u c ts ........................................
D rugs a nd dru gg ists' s u n d rie s .................................................
O th e r...............................................................................................
53,667
138,915
50,470
420,739
68,124
160,964
158,993
436,193
61,603
158,432
6,481
2,530
1,650
(D)
(D)
4,175
12,298
1,444
25,291
1,064
(D)
(D)
40
2
0
6,879
(D)
(D)
12,238
(D)
(D)
2,889
14,730
32,242
7,036
74,116
9,465
5,215
3,901
42,989
124.4
50.2
106.5
732.6
Inform ation................................................................................
1,394,565
608,400
65,941
540,381
2,079
51,802
57,077
13,161
280,647
140,924
1,857.7
Publishing in d u s trie s ..................................................................
M otion picture and sound recording in d u s trie s ...................
B roadcasting and te le c o m m u n ic a tio n s .................................
B roadcasting, cable netw orks, and program d istribution
T e le com m un ica tion s...............................................................
In form ation serv ic e s and da ta processing s e rv ic e s ...........
192,295
2 9,286
1,072,878
342,367
730,511
100,105
92,323
13,961
442,103
127,590
314,513
60,014
32,397
8,511
20,563
58,752
5,450
421,221
(D)
(D)
54,958
17,550
366
28,106
4,888
23,218
5,779
2,816
267
50,503
4,130
46,372
3,491
9,504
(D)
(D)
4,471
1,174
0
319
60
259
585
(D)
(D)
(D)
(D)
3,197
48,699
3,492
196,188
45,643
150,545
32,268
30,754
2,208
88,205
19,214
68,991
19,756
360.1
41.9
1,167.6
278.1
889.5
288.1
Finance (except depository institutions) and insurance
7,651,289
839,333
(D)
610,076
(D)
85,878
22,271
228
161,002
129,008
1,105.2
Finance, except d e p o sito ry in s titu tio n s .................................
3,613,012
236,031
234
126,765
109,032
34,970
10,948
146
57,973
64,959
376.9
S ecurities, com m o dity contracts, and other
in te rm e d ia tio n .....................................................................
O the r fin ance, e xcept d e pository in s titu tio n s ..................
Insurance ca rrie rs and related a ctivitie s ................................
3,360,023
252,989
4,038,277
192,245
43,786
603,301
(D)
(D)
(D)
93,636
33,129
483,311
(D)
(D)
(D)
26,947
8,023
50,907
3,101
7,848
11,323
(D)
(D)
82
43,630
14,343
103,029
57,197
7 ,763
64,048
2 89.6
87.2
7 28.4
Professional, scientific, and technical services...............
329,153
224,408
(D)
200,840
(D)
33,992
7,519
13,750
122,453
86,584
1,065.7
A rchitectural, engine e rin g, and related s e rv ic e s .................
C o m pu te r system s d esign and related s e rv ic e s .................
M anagem ent, scientific, and technical c o n s u ltin g ..............
A dve rtisin g and related s e rv ic e s .............................................
O th e r...............................................................................................
22,029
152,530
2 2,078
49,500
83,016
36,210
87,496
12,610
18,743
69,348
4,776
15,597
0
679
(D)
1,019
14,070
1,117
1,406
16,380
679
3,913
516
701
1,710
(D)
9,133
115
(D)
31,434
71,219
12,404
18,743
67,041
(D)
4,323
15,004
43,880
9,075
10,121
44,372
13,171
33,340
7,371
7,587
25,116
172.0
352.0
70.2
84.7
386.8
Other industries.......................................................................
1,316,090
1,324,617
838,555
477,906
8,155
82,808
65,301
1,617
480,443
275,295
8,395.8
A griculture, forestry, fishing, and h u n tin g ..............................
C o n s tru c tio n ..................................................................................
R etail tra d e ....................................................................................
Transportation and w a re h o u s in g .............................................
Real estate and rental and le a sin g .........................................
R eal e s ta te ...............................................................................
R ental and lea sin g (except real e s ta te )............................
M an ag em e nt o f no nb a nk com panies and e n te rp ris e s ......
A dm inistration, su pp ort, and w aste m a n a g e m e n t..............
Health care and so cia l a ssista n ce ...........................................
Acco m m o da tion and food s e rv ic e s ........................................
A c c o m m o d a tio n ......................................................................
Food se rvice s and drinking p la c e s .....................................
M iscellaneous s e rv ic e s .............................................................
6,120
42,309
424,952
300,501
134,642
49,343
85,299
131,531
92,954
36,798
89,926
41,852
48,074
56,356
(D)
44,900
789,596
198,556
56,146
14,439
41,707
8,508
38,857
774,405
2,861
4,084
(D)
5,878
15,039
195,577
4 5,414
6,689
38,725
0
165
152
118
6,648
(D)
2,802
45,872
5,120
5,927
2,952
2,975
240
536
23,941
15,688
12,197
3,342
8,854
46
4
2,499
12,410
212,096
9 5,033
26,268
7,247
19,021
(D)
4,950
2,706
5,902
1,147
4,754
1,589
132
2,815
2,171
4,754
1,849
2,905
2,826
1,671
7 ,783
100,781
62,586
12,536
3 ,446
9,089
751
38,760
15,829
23,46 3
5,304
50.3
132.1
4,032.6
914.0
2 44.3
35.5
208.8
13.1
1,157.7
312.5
1,178.8
2 5 1.2
927.6
3 60.3
Manufacturing
(D)
84,169
39,512
68,652
18,893
49,759
32,147
(D)
0
(D)
(D)
(*)
(D)
(D)
2,548
(D)
(D)
2,662
(D)
(D)
79,593
38,828
65,665
18,864
46,801
29,482
(D)
0
(D)
(D)
(*)
(D)
(D)
439
(D)
(D)
3
(D)
(D)
(D)
0
(D)
0
(D)
(D)
(D)
0
(D)
189
5,895
49,593
23,479
36,543
9,833
26,710
16,626
18,159
11,135
* Less than $500,000 (+/-).
revenue source and include it in their income statements in an “other income” category rather than in sales.
D Suppressed to avoid disclosure of data of individual companies.
BEA collects data on investment income to ensure that—where it is included in total sales— it is not misdassi1. Some parents and foreign affiliates primarily in finance and insurance include investment income in sales
fied as sales of services,
or gross operating revenues. Most other parents and affiliates consider investment income an incidental
U .S . M u ltin a tio n a l C o m p a n i e s
40
N ovem ber
2008
Table 15.2. Selected Data for Nonbank U.S. Parents by Industry of U.S. Parent, 2006
M illions of dollars
Sales
Total
assets
Total
G oods
S ervices
Investm ent
in c o m e 1
N et
incom e
R esearch
C apital
and
expenditures developm ent
expenditures
Value
added
C om pensation
o f em ployees
T hou sa n ds
of
em ployees
All industries...............................................................
18,520,846
8,273,414
5,479,679
2,385,973
407,763
746,958
442,573
187,813
2,509,219
1,365,399
21,747.6
Mining..........................................................................................
325,779
108,563
81,372
26,503
688
32,601
34,104
296
64,997
16,804
179.1
Oil and gas extra ctio n .................................................................
O th e r...............................................................................................
189,136
136,643
50,073
58,489
(D)
(D)
(D)
(D)
16
672
17,481
15,121
24,191
9,914
8
288
33,559
31,439
3,976
12,828
30.2
148.9
Utilities.......................................................................................
569,626
210,169
13,035
193,993
3,141
14,834
28,996
29
75,094
20,921
226.4
4,868,473
3,846,638
3,622,206
158,464
65,968
331,961
168,319
151,974
1,045,509
572,341
7,545.9
F o o d ................................................................................................
B everages and tobacco p ro d u c ts ............................................
Textiles, apparel, and leather p ro d u c ts..................................
W ood p ro d u c ts .............................................................................
P a p e r....................................
P rin ting and related su pp o rt a c tiv itie s ....................................
Petroleum and coal p ro d u c ts ....................................................
C h e m ic a ls ..........................
Basic c h e m ic a ls ......................................................................
R esins and syn the tic rubber, fibers and fila m e n ts .........
P ha rm ace utica ls an d m e d ic in e s ........................................
Soap, cleaning com pounds, and to ile t p re p a ra tio n s .....
O th e r ..........................................................................................
P lastics and rubber p ro d u c ts ....................................................
N onm etallic m ineral p ro d u c ts ...................................................
Prim ary and fabricated m e ta ls .................................................
Prim ary m e ta ls ........................................................................
Fabricated m etal p ro d u c ts ....................................................
M a ch in e ry......................................................................................
Agriculture, construction, and m ining m a c h in e ry ...........
Industrial m a c h in e ry ..............................................................
O th e r..........................................................................................
C om puters and electronic p ro d u c ts .......................................
C om puters and peripheral e q u ip m e n t...............................
Com m unications e q u ip m e n t................................................
Audio and vid e o e q u ip m e n t..................................................
S em iconductors and oth e r electronic c o m p o n e n ts .......
Navigational, m easuring, and other in s tru m e n ts ............
M ag ne tic and o ptical m e d ia .................................................
E lectrical e quipm ent, a ppliances, and c o m p o n e n ts ...........
T ransportation e q u ip m e n t..........................................................
M otor ve hicles, b odies and trailers, and p a rts .................
O th e r ..........................................................................................
F urniture and related p ro d u c ts ................................................
M isce llan eo u s m a nu fa c tu rin g ...................................................
295,012
211,333
25,652
36,960
105,013
20,688
589,570
881,619
126,614
92,262
478,214
98,064
86,465
85,529
62,611
173,774
115,422
58,352
241,717
133,445
40,134
68,137
510,814
118,225
123,564
11,326
173,147
82,760
1,793
99,231
1,362,970
732,499
630,471
21,540
144,438
294,550
114,829
33,831
27,907
79,284
21,168
839,290
525,202
119,150
62,536
2 21,867
6 0,117
61,532
82,213
4 5,888
185,713
127,864
57,849
189,373
8 2,312
34,746
72,316
344,506
9 0,573
89,592
8,343
92,643
6 2,193
1,162
95,730
861,583
501,913
359,670
25,831
79,738
(D)
(D)
(D)
(D)
33,724
105
0
3,438
1
7,721
3,852
839
1,152
3,463
726
23,497
21,514
4,853
3,152
10,040
1,719
1,750
2,633
2,056
5,809
4,328
1,481
6,294
3,408
1,268
1,617
16,141
2,775
3,489
198
8,348
1,307
24
2,724
66,231
48,715
17,515
508
3,159
1,684
492
208
121
1,594
51
2,316
44,914
1,555
2,417
36,163
2,710
2,070
1,207
406
1,184
531
653
5 ,893
2,361
2,031
1,500
41,727
8,080
11,178
64,915
57,650
11,262
8,244
3 6,539
11,341
154,597
185,277
25,519
20,565
93,754
21,952
23,487
26,391
19,965
61,696
39,218
22,479
54,565
17,598
13,083
23,885
100,227
15,421
22,267
2,073
36,121
2,748
42,850
18,272
24,578
184
4,397
23,996
350
29,879
183,800
61,288
122,512
9,537
29,623
34,938
16,785
7,898
4,728
17,288
6,070
30,042
87,655
11,919
8,690
45,978
9,147
11,921
17,890
8,988
35,994
21,208
14,786
36,135
12,552
6,797
16,787
70,803
13,225
14,547
1,518
23,592
17,652
269
19,963
149,762
63,341
86,421
6,589
20,812
630.3
224.5
150.9
69.8
22 4.4
133.1
262.7
8 93.3
123.8
96.4
403.4
120.3
149.3
286.0
146.6
540.3
290.8
249.6
550.4
159.2
108.3
282.8
863.0
177.8
171.3
24.5
2 42.6
2 43.0
3.8
300.3
1,820.9
872.1
9 48.8
126.3
3 23.2
Wholesale trade........................................................................
721,870
P rofessional an d co m m ercial equipm ent and s u p p lie s .....
P etroleum and petroleum p ro d u c ts ........................................
D rugs and dru gg ists’ s u n d rie s .................................................
O th e r ...............................................................................................
47,969
133,647
55,019
485,235
Information.................................................................................
Manufacturing.....................
2,017
0
(D)
(D)
24,940
21,878
24,330
1,603
679
7,643
1,969
93,619
81,086
6,649
8,134
52,721
10,519
3,064
2,996
5,828
13,992
9,993
3,999
16,902
7,534
5,137
4,231
39,759
8,712
7,690
439
14,327
8,510
82
5,197
9,773
-1 6 ,3 7 8
26,151
1,171
3,534
(D)
(D)
79,064
20,942
817,105
520,013
117,728
196
226
21,852
5,105
1,420
(D)
(D)
220,751
1,036
(D)
(D)
60,246
79,733
45,709
181,128
125,376
55,752
181,652
77,729
32,729
71,194
319,548
1,284
2,480
179
4,531
2,434
2,097
6,085
25
23
0
333
84
2
0
81
0
1
0
0
54
54
0
1,637
(D)
(D)
(D)
(D)
88,807
735,334
472,566
262,768
(D)
71,416
6,923
66,699
11,653
55,045
(D)
7,518
18
0
0
0
1
17
0
0
59,550
17,694
41,856
0
805
872,640
807,594
53,088
11,958
41,772
25,837
5,068
132,651
65,707
1,061.2
69,118
145,477
174,121
483,924
(D)
(D)
1,634
2,601
(D)
46,536
(D)
723
16,078
(D)
(D)
425,474
4,123
11,566
2,256
23,827
(D)
142,876
44
0
0
11,914
2,920
15,063
27,216
8,807
81,565
9,629
5,133
4,183
46,761
117.9
47.9
107.4
788.0
1,486,838
594,357
40,963
551,103
2,292
67,270
57,094
14,264
287,669
152,452
1,864.8
P ublishing in d u s trie s ..................................................................
M otion picture and sound recording in d u s trie s ...................
199,292
36,947
4,034
470
10,329
45,059
3,663
392,580
(D)
(D)
64,697
1,340
0
234
67
167
718
19,948
104
1,134,995
373,363
761,632
115.604
18,666
5,351
11,977
84,199
9,627
B roadcasting and te lec o m m unications..................................
B roadcasting, cable netw orks, and program distribution
T e le com m u nicatio n s...............................................................
Inform ation services and data processing s e rv ic e s ...........
104,204
14,978
404,791
137,562
267,229
70,384
40,063
17,782
22,281
7,155
47,383
4,898
42,485
5,207
(D)
322
3,557
200,259
54,817
145,441
38,688
31,188
2,570
95,718
21,076
74,642
22,976
1,169.9
298.9
87 1.0
314.8
1,148.4
(D)
(D)
84,559
5,033
(D)
(D)
(D)
(D)
56,063
6,113
(D)
(D)
4,969
(D)
16,390
5,597
(D)
(D)
(D)
(D)
331.3
48.8
8,753,807
958,569
(D)
(D)
311,829
119,983
39,561
198
231,465
144,708
Finance, except d e p ository in s titu tio n s .................................
Securities, co m m o dity contracts, and other
in te rm e d ia tio n .....................................................................
O the r fin ance, e xcept deposito ry in s titu tio n s ..................
Insurance ca rrie rs and related a c tiv itie s ................................
4,362,021
310,538
266
153,065
157,207
48,969
26,750
164
94,873
75,525
4 24.6
3,789,514
572,508
4,391,786
248,532
62,006
648,031
(D)
(D)
(D)
127,369
29,838
154,621
37,673
11,296
71,014
4,042
22,708
12,811
(D)
(D)
34
77,909
16,965
136,591
66,4 07
9,119
69,183
315.5
109.1
723.9
Professional, scientific, and technical services...............
343,613
242,543
(D)
(D)
2,846
36,358
8,969
14,282
141,835
97,600
1,157.7
A rchitectural, e ng in eering, and related s e rv ic e s .................
C om p uter system s design and related s e rv ic e s .................
M an agem ent, scientific, and technical c o n s u ltin g ..............
A dve rtisin g and related s e rv ic e s .............................................
O th e r...............................................................................................
20,184
161,979
16,175
56,711
88,563
31,467
96,880
13,988
20,313
79,895
5,705
14,320
0
711
(D)
(D)
(D)
863
17,659
631
1,420
15,785
771
4,159
529
822
2,688
148
9,005
0
25,761
81,850
13,781
20,313
5,001
15,885
56,347
9,521
11,069
49,015
14,401
36,648
8,296
8,272
2 9,983
144.7
407.1
74.4
91.1
440.4
1,450,840
1,439,936
888,415
542,478
9,042
102,179
79,693
1,702
529,998
294,866
8,564.1
6,627
3 0,877
434,847
347,810
151,703
61,202
90,502
142,971
112,884
40,017
97,138
46,581
50,556
85,965
8,212
45,651
827,242
8,120
44,084
810,621
10,038
3,089
51
3,038
92
1,512
16,565
222,265
52,407
8,716
43,690
0
55
56
115
8,296
7,981
315
61
2 ,327
32,493
339
600
27,287
48
4
30,251
8,486
4,632
3,855
1,716
9,792
102,938
66,087
13,965
3,955
10,011
49.0
158.8
3,926.8
983.6
2 64.3
43.8
2 20.5
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
2,606
69,400
(D)
(D)
(D)
(D)
83
0
431
1
430
5,633
2,478
8,136
2,131
6,005
3,334
45,143
(D)
(D)
19,052
12,787
3,199
9,588
607
4,591
2,350
6,223
3,080
3,144
5,857
2,091
13,109
200,743
132,986
29,898
8,979
20,919
7,858
54,234
24,028
40,174
10,589
29,585
24,877
723
42,139
16,686
25,351
5,851
19,500
15,469
14.6
1,211.5
3 07.0
1,204.3
255.2
949.1
4 44.3
Finance (except depository institutions) and insurance
Other industries...............................
A griculture, forestry, fishing, and h u n tin g ..............................
C o n s tru c tio n ..................................................................................
Retail tra d e .......................................
Transportation and warehousing
Real estate and rental and le a s in g .........................................
R eal e s ta te ...............................................................................
Rental and leasing (except real e s ta te )............................
M an ag em e nt of n onbank com panies and e n te rp ris e s ......
A dm inistration, support, and w aste m a n a g e m e n t..............
H ealth care and social a s sista n ce ...........................................
A ccom m od atio n and food s e r v ic e s ........................................
A c c o m m o d a tio n ......................................................................
Food se rvice s and d rinking p la c e s .....................................
M iscellan eo u s s e rv ic e s ..............................................................
* Less than $500,000 (+/-).
D Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1 to table 15.1.
232,418
6 3,792
16,749
47,043
(D)
97,396
41,644
72,436
20,755
51,681
(D)
(D)
(D)
(D)
(D)
(D)
0
(D)
(D)
(D)
(D)
(D)
0
(D)
0
(D)
(D)
(D)
0
(D)
248
N ovem ber
2008
S u r v e y o f C u r r e n t B u sin e ss
41
Table 16. Selected Data for Nonbank Foreign Affiliates by Country of Affiliate, 2005 and 2006
2005
2006
M illions of dollars
Total
a ssets
Sales
All countries........................................................ 10,368,282 4,362,234
Canada .....................................................................
Europe......................................................................
Net
incom e
M illions of dollars
T housands
U.S.
U.S.
of
exports of im ports of
C om pensation
goods
goods
em ployees
o f employees
shipped to shipped by
affiliates
affiliates
Total
assets
Sales
Net
incom e
650,016
217,157
295,302
404,995
10,621.7
11,539,657
4,731,350
705,766
234,558
302,173
426,207
40,194
67,797
(D)
46,492
1,112.9
804,274
518,822
50,410
74,286
(D)
50,258
1,100.0
6,356,923 2,206,451
36,848
238,100
12,283
40,007
16,683
271,894
445,393
18,930
19,602
402,234
151,036
603,556
913,802
56,414
19,743
31,856
48,938
153,174
99,926
3 42,953
8,889
2,359,611
65,052
Latin America and Other Western Hemisphere
S outh A m e ric a ..........................................................
A rg e n tin a ...............................................................
B ra z il......................................................................
C h ile .......................................................................
C o lo m b ia ..............................................................
E c u a d o r.................................................................
P e ru ........................................................................
V e nezuela.............................................................
O th e r......................................................................
375,842
53,901
64,891
235,800
4,374.3
7,180,683
2,381,964
388,077
55,653
64,008
246,999
4,502.4
(D)
18,134
1,058
3,875
222
2,603
9,270
40.5
130.0
(D)
262,941
40.3
134.7
(D)
37,490
(D)
9,848
13,809
(D)
293,556
504,223
(D)
198,406
327,394
(D)
9,566
17,364
283
3 ,482
95
208
433
2,692
10,251
(L)
45.5
25.0
646.3
647.2
(D)
15,721
1,053
4,280
242
(D)
3,148
1,379
31,229
43,947
(D)
105,962
14,402
20,889
(D)
196,673
315,974
288
4,100
110
180
480
(D)
3,504
1,392
31,950
44,248
(L)
52.6
22.9
6 51.3
649.2
(D)
12,226
164,624
131,145
16,106
209,939
33,546
21,679
(D)
825
42,056
11,585
63,263
84,271
5,234
1,312
(D)
1,041
4,951
13,789
(L)
53.3
93.1
267.1
(D)
13,281
2,415
1,804
(J)
216.9
31.8
113.2
(D)
29,247
403,987
168,278
619,063
996,367
54,645
22,994
(D)
15.453
186,526
137,030
16,835
227,673
37,810
24,216
(D)
1,290
47,924
11,324
55,344
89,751
3,223
1,536
(D)
1,205
5,286
14,179
939
14,203
2,347
1,935
(L)
60 .0
93.9
27 4.8
13.9
2 25.9
33.7
117.7
(D)
(D)
6,887
47
117
2,386
(D)
(D)
(D)
626
254
168
180
984
394
7,791
(D)
164
246
385
6,550
6,017
(D)
111
17,831
(D)
(D)
(D)
436
241
90
(D)
(D)
(D)
(D )
(D)
93,573
52,196
190,333
21,188
584,486
(D)
8,145
2,537
42,821
1,109
52,822
(D)
(K)
13,190
183
(D)
(D)
135
938
9,938
6,919
7,497
1,081
73,825
1,914
64.0
212.3
107.1
100.7
36.0
1,244.5
125.8
(D)
391,539
10,654
2,832,181
79,685
(D )
116,941
44,293
60,626
33,812
2,055.4
1,580,460
554,644
192,627
2 4,960
101,640
15,112
12,737
16,664
2,573
3,809
1,514
1,035
(D)
15,956
1,767
9,148
1,347
788.4
97.9
435.2
76.6
(D)
(L)
275,354
40,133
122,118
31,039
14,582
(D)
9,513
21,258
(D)
1,868
5,319
6,711
802
3,530
508
843
73
(D)
(D)
(D)
(D)
(D)
(D)
(D)
609
1,746
179
(I)
32.6
70.5
11.4
180,944
3,972
14,705
502
36,079
503
46,708
1,121
341
44,801
15,469
487
184
13,684
(D)
(D)
(D)
(D)
(D)
(D)
88,484
52,074
166,870
15,170
544,133
26,111
1,482,733
488,175
Central A m e ric a ........................................................
C osta R ic a ............................................................
H o n d u ra s...............................................................
M e x ic o ...................................................................
P a n a m a .................................................................
O th e r ......................................................................
O ther W estern H em isp h e re ..................................
B a rb a d o s ...............................................................
B e rm u d a ................................................................
D om inican R e p u b lic ...........................................
U nited K ingdom Islands, C a rib b e a n ..............
O th e r ......................................................................
246,974
32,822
112,656
29,455
11,647
3,412
16,831
35,460
4,692
207,740
5,881
1,455
159,815
34,615
5,974
1,028,019
24,814
553,948
5,132
319,875
124,250
A fric a ........................................................................
E g y p t ........................................................................................................
(D )
(D)
562
(D)
(D)
(D)
160,990
10,698
(D)
(D)
34,127
712
6,643
114,604
331
85,573
(D)
(*)
934
5,018
4,036
1,148
(D)
(D)
(D)
(D)
(D)
(D)
38,096
2,205.0
219,475
28,480
112,657
18,411
14,559
21,436
2,992
6,059
1,908
977
8,291
1,031
4,162
483
(D )
18,113
2,028
10,400
1.516
836.3
114.9
452.2
81.2
(D)
18,499
40,070
(D)
12,227
25,419
IP)
2,527
6,816
(D)
80
183
1,160
(D)
174
686
2,024
(L)
8.5
33.3
77.1
(D)
(D)
(D)
(D)
1,173.9
36.8
20.0
1,033.3
231,017
205,690
15,922
(D)
(D)
(D)
(D)
(D)
(D)
4 1,136
537
175,810
181,710
11,377
(D)
(D)
(K)
(K)
(D)
(D)
(D)
7,507
2,386
76
93.1
1.8
5,520
1,074,090
339
90,377
(D)
(D)
(K)
10.2
29.3
(D)
(D)
23,630
19,973
19,158
20,288
422
(D)
4,329
468
737
115,864
71,137
14,613
1,433
(D)
3,925
181.7
11,142
23,027
14,251
67,443
7,252
11,091
21,469
31,325
1,055
1,635
1,223
10,700
(D)
(D)
320
34.1
(D)
(D)
(D)
744
(D)
2,628
(D)
(L)
(D)
(D)
Middle E as t.............................................................
97,675
64,513
14,666
1,045
2,298
4,379
106.7
127,153
81,485
Is ra e l............................................................................
Saudi A ra b ia .............................................................
United A rab E m ira te s .............................................
O th e r ..........................................................................
26,107
21,622
10,085
39,861
14,313
19,345
1,369
6,048
(D)
94
467
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
69.8
12.9
11.2
12.8
31,086
19,704
(D)
2,693
638
386
662
(D)
(D)
(D)
1,550,467 1,044,448
87,759
48,688
61,516
80,588
2,790.8
1,711,140
1,111,249
105,135
4,351
2,235
(D)
4,798
495
347
12,818
2,759
2,473
217
1,200
(D)
(D)
(D)
217,737
93,101
181,528
31,566
42,354
618,763
85,543
36,909
13,335
22,465
210,101
92,108
45,533
20,096
119,538
111,869
83,616
24,022
20,387
296,800
80,372
49,106
12,753
15,147
202,728
41,110
42,483
11,317
15,059
9,785
10,353
1,787
4,677
14,187
5,683
4,354
766
1,508
29,970
2,338
2,863
1,807
6,597,730
216,971
2,075,159
129,455
327,575
29,489
5,844,159
175,877
1,945,973
101,246
319,871
2 4,502
(J)
391
45,074
1,709
60,188
3,168
222,820
4,989
4,065.1
233.9
(J)
1,269.7
(D)
(D)
(K)
(K)
15,413
1,091.7
(D)
(K)
399
2,456
77
48.2
99.0
1.8
(D)
(D)
19,213
14,731
162
(D)
26,523
23,749
(D)
135,947
83,185
16,712
1,518
13,653
8,682
1,482
(D)
8
(D)
(D)
702
17,697
1,071
2,555
4,670
103.1
(D)
(D)
(D)
21,121
20,245
5,763
557
96
454
(D)
(D)
(D)
(D)
(D)
2,816
735
450
669
63.2
15.3
11.5
13.3
50,981
61,703
81,909
2,838.1
4,718
2,283
5,789
312.2
696.3
98.9
238.0
101.0
590.6
125.6
136.0
33.5
95.9
123.9
93.2
150.2
42.8
4,163.2
225.5
(D)
(D)
(D)
(D)
(D)
(D)
(D)
17,528
(D)
1,559
322
50,780
1,450
684
48,127
52,834
(D)
(D )
(D)
(D)
(D)
(D)
23,106
(D)
(D)
(D)
(D)
1,644
(D )
1,120
68,732
15,384
(D )
(D)
(D)
(I)
(D)
(D)
1,184
552,533
3,809
350,887
73.9
3,415
(D)
726
(D)
38,367
790
(D)
1,622
109
178
(D)
321.9
612.8
120.1
210.2
122.7
619.7
119.6
126.3
43.8
95.1
131.9
92.0
146.8
28.2
(D)
129,480
1,922
16,046
5,025
4,112
2,266
1,181
34,489
5,216
1,530
1,667
771
4,382
2,276
1,238
14,486
1,741
13,869
(D )
(K )
76.6
212.1
104.2
105.6
43.5
1,299.2
129.3
66,028
(D)
12,890
8,946
7,665
1,321
4,135
16,070
4,331
3,974
910
1,623
19,972
2,161
2,515
1,246
(D )
(D)
51,050
44,159
114,022
92,642
75,485
20,016
18,288
3 28,384
64,062
44,898
14,921
13,569
173,522
37,903
37,252
9,485
(D)
(D)
(D)
569
245
109
2
696
5,030
(D)
(D)
222,551
73,684
159,811
24,620
39,544
585,486
59,406
33,847
17,149
21,148
181,015
78,320
38,277
15,610
(D)
(D)
(D)
267
294
138
248
985
376
8,340
127,735
(D)
23
(D)
413
5,220
5,965
3
503
17,593
13,655
277
61,244
(D)
(D)
(D)
7,047
57
152
2,315
(D)
234
1,281
10,426
7,045
7,953
1,155
78,766
2,022
174,894
1,503
69
175
Austra lia ......................................................................
C h in a ..........................................................................
H ong K ong.................................................................
India.............................................................................
In d o n e sia ...................................................................
J a p a n ..........................................................................
Korea, R epublic o f ...................................................
M a la y s ia .....................................................................
N ew Z e a la n d ............................................................
P h ilip p in e s.................................................................
S in g a p o re ..................................................................
T a iw a n ........................................................................
T h a ila n d ......................................................................
O th e r ..........................................................................
10,935.4
(D)
94,103
12,941
19,862
(D)
6,447
2,471
40,019
580
47,724
8,371
Asia and Pacific......................................................
T h o usa nd s
U.S.
of
im ports of
C om pensation
em ployees
goods
o f em ployees
shipped by
a ffiliates
487,510
764,620
A u s tr ia ........................................................................
B e lg iu m ......................................................................
C zech R e p u b lic ........................................................
D e n m a rk .....................................................................
F in la n d ........................................................................
F ra n c e ........................................................................
G e rm a n y .....................................................................
G re e c e ........................................................................
H u n g a ry ......................................................................
Ir e la n d ........................................................................
Ita ly ..............................................................................
L u x e m bo urg ...............................................................
N e th e rla n d s ...............................................................
N o rw a y .......................................................................
P o la n d ........................................................................
P o rtu g a l......................................................................
R u s s ia ........................................................................
S p a in ..........................................................................
S w e d e n ......................................................................
S w itz e rla n d ................................................................
T u rke y.........................................................................
United K in g d o m ........................................................
O th e r ..........................................................................
N ig e ria ........................................................................
South A fric a ...............................................................
O th e r ..........................................................................
U.S.
e xports of
goods
shipped to
a ffiliates
(D)
(D)
(J)
(K)
5,239
414
738
9.5
29.7
(D)
4,275
186.8
(D)
394
37.0
(D)
(D)
(D)
2,871
(D)
(D)
(I)
71.2
13
(D)
(D)
(D )
(D )
2,822
1,144
262
3,678
3
16,850
6,057
4,519
2,790
1,251
31,599
5,946
1,612
1,302
852
4,605
2,376
1,445
706
46,457
2 ,335
58,699
3 ,933
233,221
5,600
(D)
5,354
590
384
12,095
3,056
(D)
225
1,284
(D)
(D)
(D)
7,548
2,847
15,154
68
933
(D )
(L)
Addenda:
E uropean Union ( 2 5 ) 1............................................
O P E C 2.......................................................................
* Less than $500,000 (+/-).
D Suppressed to avoid disclosure of data of individual companies.
1.
The European Union (25) comprises Austria, Belgium, Cyprus, the Czech Republic, Denmark, Estonia, Finland,
France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland,
Portugal, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom.
2.
OPEC is the Organization of Petroleum Exporting Countries. Its members are Algeria, Indonesia, Iran, Iraq, Kuwait,
Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.
N ote. The following ranges are given in employment cells that are suppressed: A— 1 to 499; F— 500 to 999; G— 1,000
to 2,499; H— 2,500 to 4,999; 1-5 ,0 0 0 to 9,999; J— 10,000 to 24,999; K— 25,000 to 49,999; L— 50,000 to 99,999;
M— 100,000 or more.
U.S.
42
M u ltin a tio n a l C o m p a n i e s
N ovem ber
2008
Table 17.1. Selected Data for Majority-Owned Nonbank Foreign Affiliates by Country of Affiliate, 2005
M illions of dollars
Sales
Total
assets
Total
G oods
S ervices
Investm ent
in c o m e 1
Net
incom e
R esearch
U.S. exports U.S. im ports
Capital
o f goods
and
o f goods
expenditures developm ent shipped to
shipped by
M OFAs
MOFAs
expenditures
Value
added
C om pensation
o f em ployees
T hou sa n ds
of
em ployees
All countries........................................................
9,654,426
3,786,867
3,054,117
612,175
120,575
597,261
130,140
27,653
209,058
269,429
911,490
360,844
Canada......................................................................
752,687
469,703
392,016
64,488
13,199
39,228
26,200
2,433
66,611
96,262
107,700
45,299
1,094.2
Europe......................................................................
6,039,749
2,000,839
1,613,568
323,546
63,725
353,805
54,337
18,805
52,552
64,039
512,235
218,669
3,946.5
A u s tr ia ........................................................................
B e lg iu m ......................................................................
C zech R e p u b lic ........................................................
D e n m a rk ....................................................................
33,049
223,888
10,120
37,236
16,653
255,517
402,174
8,147
19,288
401,417
111,456
588,443
873,348
54,912
18,487
30,134
11,526
124,911
99,627
338,965
5,792
2,313,065
61,593
18,631
88,216
12,123
14,721
13,251
186,639
277,747
6,577
11,751
164,215
106,272
14,210
167,344
32,577
20,878
10,265
13,662
76,074
51,978
161,197
12,635
515,924
23,954
15,599
75,945
11,005
10,629
11,459
153,323
240,911
5,765
10,011
131,884
90,170
9,057
141,572
29,505
18,730
8,607
128
4,280
192
351
113
2,193
3,384
136
112
4,100
961
2,017
5,264
130
219
120
29
750
407
2,057
20
36,624
499
1,361
422
490
533
3,577
6,394
84
435
3,285
2,120
107
2,794
3,915
1,029
268
1,264
2,221
1,432
1,946
182
16,307
3,671
222
2,275
164
243
385
6,378
5,910
(*)
930
5,018
4,031
70
12,612
134
5,435
21,426
3,440
5,428
3,235
49,898
78,380
2,907
2,934
37,257
29,454
595
28,583
15,017
5,896
3,979
3,124
16,408
10,800
19,375
4,561
152,983
11,120
2,591
8,597
1,025
2,825
1,364
29,475
40,726
719
1,019
4,901
12,318
620
11,675
2,310
1,661
1,062
850
9,070
6,901
6,306
966
70,049
1,640
40.2
121.6
64.9
39.2
138
8,877
16,880
971
3,888
583
9,501
10,779
293
810
42,037
6,277
62,479
77,726
5,075
1,253
2,451
976
6,378
2,463
40,000
326
45,761
8,021
191
920
65
140
187
2,248
4,609
29
31
820
580
12,305
65,729
44,871
143,196
11,940
349,372
21,986
2,904
7,991
926
3,741
1,679
31,123
33,452
676
1,628
28,231
15,141
3,136
20,508
2,942
1,929
1,538
1,328
9,595
6,700
15,944
675
129,928
1,830
24.8
588.6
594.2
16.3
52.3
92.4
231.8
12.5
188.1
28.6
104.6
29.6
59.6
190.0
106.8
70.1
31.5
1,148.1
110.7
1,341,291
211,663
30,646
101,376
23,919
11,496
3,317
421,133
327,851
74,744
18,538
106,306
Central A m e ric a ........................................................
C osta R ic a ............................................................
H o n d u ra s...............................................................
M e x ic o ...................................................................
P a n a m a .................................................................
O th e r ......................................................................
O ther W estern H em isp h e re ..................................
B a rb a d o s ...............................................................
B e rm u d a ................................................................
D om inican R ep u blic............................................
U nited Kingdom Islands, C a rib b e a n ..............
O th e r ......................................................................
13,476
23,705
3,726
150,129
5,812
1,353
130,884
6,622
5,458
979,498
23,156
5 29,959
4,115
304,189
118,079
173,331
23,555
95,020
12,503
12,571
3,320
7,944
14,657
3,762
146,299
3,895
1,994
130,696
3,357
6,356
101,503
4,145
53,571
4,005
22,731
17,052
141,487
20,040
77,748
7,824
11,396
3,025
7,310
11,023
3,120
128,727
3,717
1,965
115,508
2,523
5,013
57,637
3,314
28,074
2,567
12,496
11,187
29,578
3,360
15,828
4,317
1,092
260
597
3,512
611
15,268
178
24
2,266
155
1,444
362
83
35
37
122
31
2,304
0
5
2,262
26
12
13,968
142
6,573
0
6,402
850
13,400
2,296
3,065
1,319
1,023
350
1,705
3,482
159
9,491
496
53
8,271
381
289
83,414
1,233
42,926
484
18,928
19,843
15,277
7,968
1,387
3,466
561
680
229
1,022
459
165
4,912
297
27
4,372
95
120
2,398
A fric a ........................................................................
109,019
66,438
57,955
8,400
83
E g y p t...........................................................................
N ig e ria ........................................................................
S outh A fric a ...............................................................
O t h e r ..........................................................................
9,243
21,684
12,131
65,960
5,965
10,984
19,529
29,960
5,568
391
6
(D)
(D)
(D)
(D)
(D)
Middle East..............................................................
49,282
24,654
20,329
4,213
Is ra e l............................................................................
Saudi A ra b ia ..............................................................
U nited Arab E m ira te s .............................................
O th e r ..........................................................................
17,578
8,045
5,737
17,922
9,064
2,102
5,297
8,191
7,519
1,487
4,330
6,993
1,517
607
937
Asia and Pacific......................................................
1,362,399
804,099
A u stra lia ......................................................................
C h in a ...........................................................................
H ong K o n g .................................................................
In d ia .............................................................................
In d o n e s ia ...................................................................
J a p a n ..........................................................................
Korea, R epublic o f ...................................................
M a la y s ia .....................................................................
N ew Z e a la n d ............................................................
P h ilip p in e s .................................................................
S in g a p o re ..................................................................
T a iw a n ........................................................................
T h a ila n d ......................................................................
O th e r ..........................................................................
211,569
63,630
156,376
20,230
34,100
474,625
41,223
28,908
14,713
19,428
176,202
73,126
35,129
13,140
94,699
77,581
74,591
17,234
14,153
179,072
38,363
40,668
13,806
12,060
165,211
35,232
34,095
7,334
5,576,026
117,313
1,765,067
55,629
F in la n d ........................................................................
France.........................................................................
G e rm a n y ....................................................................
G re e c e ........................................................................
H u n g a ry ......................................................................
Ir e la n d ........................................................................
Ita ly ..............................................................................
Lu xem bourg...............................................................
N e th e rla n d s ...............................................................
N o rw a y .......................................................................
P o la n d ........................................................................
P o rtu g a l......................................................................
R u s s ia ........................................................................
S p a in ...........................................................................
S w e d e n .......................................................................
S w itz e rla n d ................................................................
T u rke y.........................................................................
United K in g d o m ........................................................
O th e r ...........................................................................
Latin America and Other Western Hemisphere
South A m e ric a ..........................................................
A rg e n tin a ...............................................................
B r a z il......................................................................
C h ile .......................................................................
C o lo m b ia ...............................................................
E c u a d o r.................................................................
P e ru ........................................................................
V ene zu e la .............................................................
O th e r ......................................................................
9,101.3
(D)
288
4,098
108
180
480
4,427
6,851
47
117
2,383
1,831
460
7,470
626
252
168
180
979
394
7,784
115
13,132
183
841
42,104
56,761
90,463
28,407
1,714.6
453
21
405
7
6
1
4
7
1
7,748
1,148
2,698
825
942
14,481
1,706
8,661
1,080
958
163
516
1,231
166
12,465
475
178
11,245
262
305
1,461
32
214
254
464
498
716.6
94.8
402.4
65.4
50.8
7.1
29.7
55.2
11.1
944.3
36.3
19.7
4,329
47,163
7,679
20,967
3,851
3,568
1,064
3,559
5,741
734
29,188
1,193
530
25,359
568
1,539
14,112
1,015
5,552
1,170
1,878
4,497
(D)
392
100
54
16
28
257
1,652
878
27
5,406
(D)
111
17,831
1,840
(D)
5,067
436
241
90
(D)
(D)
(D)
6,361
801
3,229
507
843
73
180
532
197
34,335
503
276
3 2,446
712
399
1,408
69
175
100
422
643
13,987
10,389
40
1,319
2,928
33,406
3,650
154.7
938
(D)
(D)
(D)
4
0
31
4
(D)
(D)
(D)
902
1,371
1,148
10,566
521
743
228
2,628
2,524
8,476
5,283
17,123
248
391
1,784
1,226
21.2
7.6
66.1
59.8
112
5,810
2,107
770
930
1,837
8,783
2,795
62.0
875
2,003
363
2,570
780
31
78
1,218
767
(*)
3
0
309
9
464
149
1,079
1,151
28
8
30
47
(D)
(D)
(D)
3,211
406
486
4,680
1,840
165
324
465
42.6
3.2
7.3
8.9
642,399
136,785
24,915
78,125
21,830
4,764
45,541
47,602
158,903
62,024
2,129.3
71,596
70,519
57,087
12,773
12,823
113,155
31,961
38,780
11,568
9,900
155,034
21,905
30,143
5,157
19,171
6,697
14,022
4,321
1,123
54,418
5,821
1,717
1,951
1,933
9,081
11,286
3,131
2,111
3,932
365
3,482
140
207
11,499
581
171
287
227
4,325
3,677
585
732
1,009
2,696
1,645
1,832
244
859
1,134
1,406
1,304
380
556
668
98
327
4
1,717
456
201
35
27
(D)
32,780
16,221
8,092
4,396
7,955
39,281
8,956
6,502
3,513
3,283
13,392
5,186
6,613
2,732
14,546
4,456
4,026
2,041
1,022
20,058
4,393
1,447
1,577
711
(*)
4,281
2,920
4,793
472
343
11,757
2,029
2,460
217
1,199
10,280
3,392
1,077
321
2,234
4,637
6,544
392
185
2,055
1,554
13,865
1,096
2,041
821
66
12,116
7,876
7,714
1,161
3,626
12,510
2,580
3,286
689
1,495
19,594
1,916
2,277
1,286
4,181
2,122
1,079
366
282.3
521.8
112.8
185.2
102.2
232.5
101.5
114.9
41.5
88.8
116.4
83.8
122.6
23.1
1,402,107
47,786
301,534
7,472
61,426
371
300,075
13,474
43,742
6,766
17,768
14
43,768
1,573
59,413
1,555
461,468
28,000
207,429
3,597
3,693.8
180.4
16,897
12,926
808
1,331
29,898
689
18,924
1,438
3,833
5,015
2,576
56
(D)
194
168
406
(D)
368
(D)
9
0
(D)
(*)
(*)
(D)
0
0
(*)
576
68
31
(D)
747
708
(D)
44,165
1,121
341
42,259
(D)
(D)
4,848
(D)
23
244
(D)
(D)
725
11,017
1,642
2,637
836.3
16.8
35.2
53.7
0.9
2.6
24.3
9.8
16.0
Addenda:
European U nion ( 2 5 ) 2............................................
O P E C 3.......................................................................
MOFA Majority-owned foreign affiliate
* Less than $500,000 (+/-).
D Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1 to table 15.1.
2. See footnote 1 to table 16.
3. See footnote 2 to table 16.
N ovem ber
Survey o f C urrent Business
2008
43
Table 17.2. Selected Data for Majority-Owned Nonbank Foreign Affiliates by Country of Affiliate, 2006
M illions o f dollars
Sales
Total
assets
Total
G oods
S ervices
Investm ent
in c o m e 1
Net
incom e
Research
U.S. exports
Capital
and
o f goods
expenditures developm ent shipped to
expenditures
MOFAs
U.S. im ports
o f goods
shipped by
M OFAs
Value
added
C om pensation
o f em ployees
T hou sa n ds
of
em ployees
All countries........................................................
10,756,346
4,123,547
3,301,899
677,167
144,481
644,290
153,163
28,484
226,261
280,348
995,638
384,445
C anada.....................................................................
784,732
499,579
412,498
71,868
15,213
48,933
27,148
2,503
72,776
96,656
114,247
48,913
1,081.9
Europe......................................................................
6,819,419
2,140,026
1,697,535
363,249
79,242
363,746
63,706
18,628
54,066
62,927
540,683
229,865
4,082.6
A u s tria ........................................................................
B e lg iu m ......................................................................
C zech R e p u b lic ........................................................
D e n m a rk ....................................................................
Fin la n d ........................................................................
France ........................................................................
G e rm a n y.....................................................................
G re e ce ........................................................................
H u n g a ry ......................................................................
Ire la n d ........................................................................
Ita ly ..............................................................................
Lu xem bourg...............................................................
N e th e rla n d s ...............................................................
N o rw a y .......................................................................
P o la n d ........................................................................
P o rtu g a l......................................................................
R u s s ia ........................................................................
S p a in ..........................................................................
S w e d e n ......................................................................
S w itz e rla n d ................................................................
T u rk e y .........................................................................
U nited K in g d o m .......................................................
O th e r ..........................................................................
31,512
247,741
12,973
34,269
18,440
275,992
456,294
9,265
28,729
402,913
131,054
595,992
953,604
5 3,108
2 1,533
3 5,035
14,725
145,452
113,378
386,889
8,265
2,778,740
63,517
19,280
99,792
13,483
15,357
13,667
186,270
286,134
6,943
15,106
186,105
112,904
14,779
166,379
36,760
2 3,377
10,649
18,215
80,052
52,107
184,701
18,711
555,092
24,164
16,652
86,733
12,167
11,522
11,700
150,882
2 48,439
5,962
12,504
142,826
95,103
8,217
136,836
33,283
21,198
8,931
16,531
68,890
45,266
162,435
17,982
362,113
21,362
2,491
8,313
1,069
3,646
1,830
32,712
34,286
866
2,020
38,512
16,862
3,875
2 3,465
3,341
2,014
1,594
1,659
10,322
5,576
19,467
702
146,126
2,502
137
4,746
247
189
137
2,676
3,409
115
582
4,767
939
2,687
6,078
136
165
124
25
840
1,265
2,799
27
46,853
300
3,470
14,709
971
4,300
589
8,260
14,382
353
1,269
4 7,908
6,985
5 4,854
86,361
3,044
1,457
2,762
208
948
77
145
112
1,447
4,919
37
37
848
689
268
486
42
80
24
82
256
1,536
933
35
5,378
41
283
3,479
93
208
433
4,544
7,004
57
152
2,311
2,255
386
8,190
267
294
138
248
979
376
8,330
180
13,583
277
242
2,772
234
285
4 13
5,056
5,801
3
503
17,593
2,272
1,140
6,712
2,527
4 2,625
918
5 0,002
8,145
542
1,687
513
496
229
3,488
11,597
127
475
2,875
2,541
127
3,618
3,148
808
304
1,141
2,635
1,287
2,055
203
19,721
4,087
(D)
5,204
22,219
3,737
6,162
3,212
50,013
85,285
2,955
3,385
48,594
30,911
2,348
26,610
14,168
6,381
4,217
4,014
17,631
10,123
22,714
5,731
154,818
10,253
2,679
9,577
1,162
3,154
1,377
30,167
40,961
727
1,191
5,237
12,802
737
13,248
2,242
1,785
1,135
1,185
9,600
7,027
6,783
1,062
74,257
1,769
40.0
126.4
66.7
45.7
22.6
590.5
592.1
16.3
59.3
93.1
241.8
12.0
213.0
30.5
109.8
29.6
71.8
191.3
103.9
76.1
40.1
1,191.3
118.6
Latin America and Other Western Hemisphere
1,421,498
476,244
373,717
79,590
22,937
115,665
18,688
865
48,725
61,365
105,370
32,159
1,847.8
South A m e ric a ..........................................................
A rg e n tin a ..............................................................
B ra z il......................................................................
C h ile .......................................................................
C o lo m b ia ...............................................................
E c u a d o r.................................................................
P e ru ........................................................................
V e nezuela.............................................................
O th e r......................................................................
C entral A m e ric a ........................................................
C osta R ic a ............................................................
H o n d u ra s...............................................................
M e x ic o ...................................................................
P a n a m a .................................................................
O th e r......................................................................
O ther W estern H em isp h e re ..................................
B a rb a d o s ...............................................................
B e rm u d a ................................................................
D om inican R e p u b lic ...........................................
U nited Kingdom Islands, C a rib b e a n ..............
O th e r ......................................................................
236,368
36,932
110,822
2 4,819
14,045
3,135
14,719
2 7,774
4,123
164,297
6,752
1,528
144,342
6,940
4,735
1,020,833
26,622
524,579
2,822
334,083
132,727
196,148
26,684
106,130
14,812
14,325
3,021
10,433
16,723
4,020
165,489
4,442
2,579
148,406
3,483
6,579
114,607
5,396
59,765
3,775
2 5,485
20,186
162,640
22,626
89,125
9,926
12,938
2,652
9,067
12,761
3,544
146,821
4,242
2 ,547
132,010
2,619
5,403
64,256
3,986
31,609
3,170
12,400
13,091
3 0,507
3,836
14,881
4,604
1,295
322
1,324
3,805
440
16,136
200
27
13,921
826
1,162
32,947
1,006
20,249
17,844
2,587
5,420
1,581
950
177
2,324
4,563
241
9,809
510
50
8,639
329
280
88,013
2,982
51,283
472
19,064
14,213
9,515
1,845
4,045
615
683
332
1,250
578
167
6,303
183
44
5,777
122
177
2,871
632
30
571
8
7
7,770
1,184
2,494
439
1,120
606
5,446
5,641
3,001
222
2,124
282
92
47
42
157
36
2,532
0
5
2,475
38
14
17,404
404
7,907
0
7,639
1,454
16,418
1,941
9,935
1,240
1,070
147
592
1,310
183
14,215
577
249
12,773
287
330
1,526
53
210
363
410
490
770.1
110.9
429.5
69.8
52.9
7.2
30.2
58.6
11.0
1,017.5
37.1
36.5
889.8
17.7
36.4
60.2
1.2
2.7
30.5
9.2
16.5
A frica........................................................................
127,916
77,908
68,652
9,105
151
15,700
E g y p t...........................................................................
N ig e ria ........................................................................
S outh A fric a ...............................................................
O th e r ...........................................................................
11,356
2 8,295
13,299
74,966
6,984
6,370
8
1,090
749
(D)
20,941
18,544
(D)
(D)
606
486
2,296
5,716
(D)
(D)
(D)
Middle E a s t.............................................................
71,845
32,907
26,780
5,808
319
6,902
Isra e l............................................................................
10,551
2,594
10,081
9,681
8,804
1,702
45
S audi A ra b ia ..............................................................
United Arab E m ira te s .............................................
O th e r ..........................................................................
23,022
6,652
6 ,942
35,230
(D)
(D)
(D)
(D)
(D)
(D)
1,329
1,664
436
3,473
Asia and Pacific......................................................
1,530,935
896,883
722,718
147,546
26,619
93,344
29,086
A ustra lia ......................................................................
C h in a ..........................................................................
Hong K ong.................................................................
In d ia .............................................................................
In d o n e sia ...................................................................
Ja p a n ..........................................................................
Korea, Republic o f ...................................................
M a la y s ia ....................................................................
New Z e a la n d ............................................................
P h ilip p in e s .................................................................
S in g a p o re ..................................................................
T a iw a n ........................................................................
T h a ila n d ......................................................................
O th e r ..........................................................................
205,166
82,712
178,335
25,438
36,884
540,648
51,101
33,827
10,682
20,747
202,433
83,831
41,698
17,434
99,106
93,570
82,470
20,364
16,090
188,014
47,203
44,979
11,517
13,554
192,942
38,492
39,620
8,962
7 4,025
84,735
62,907
15,656
14,511
121,500
39,506
42,761
9,258
11,291
182,062
24,607
35,234
4,664
21,794
8,415
14,514
4,316
1,297
55,396
7,020
2,027
1,972
2,009
9,349
11,719
3,534
4,184
3,287
420
5,049
392
282
11,118
677
191
287
254
1,531
2,166
852
114
14,338
8,515
10,414
1,510
4,234
10,181
3,263
3,941
518
1,430
28,440
2,240
2,641
1,679
6,303,251
149,622
1,866,968
73,303
1,454,394
63,174
336,391
9,445
76,183
684
309,173
16,102
(D)
9,131
925
250
47
381
(*)
0
(D)
(D)
7,998
1,030
3,929
482
955
80
183
1,122
217
39,197
537
689
36,468
790
713
1,530
109
178
195
162
886
5,239
53,009
8,100
24,900
4,871
3,917
700
4,263
5,417
841
32,372
1,261
583
2 8,353
627
1,549
19,989
2,773
6,503
1,112
3,536
6,065
10,683
65
1,405
3,723
38,569
3,966
158.5
5
(D)
(*)
52
8
22
5
678
700
391
2,871
2,891
12,538
5,553
17,587
306
420
1,811
1,429
23.2
7.3
62.6
65.4
3,852
847
824
2,139
13,450
3,070
68.2
990
18
846
1,274
1
0
278
4
454
87
(*)
(D)
(D)
3,968
471
3,687
5,323
2,010
209
383
468
47.1
4.4
7.4
9.3
5,575
48,465
53,538
183,319
66,473
2,258.9
4,450
4,687
591
1,046
1,458
5,386
2,245
2,062
256
600
1,364
1,120
1,718
2,101
596
804
105
310
11
1,739
729
249
38
21
850
74
47
1
4,659
3,402
5,347
565
380
11,372
2,622
3,041
225
1,283
11,360
2,803
1,144
261
2,281
5,241
7,736
436
212
1,450
2,664
15,150
68
932
11,915
1,774
3,678
3
3 9,040
18,413
10,637
5,294
9,809
3 9,380
11,021
7,761
2,812
3,841
16,560
5,682
8,682
4,387
15,499
5,462
4,343
2,463
1,083
20,584
4,971
1,542
1,190
792
4,343
2,208
1,313
679
277.2
5 88.7
91.6
210.6
86.0
278.0
107.4
132.3
31.2
89.7
114.8
84.5
128.9
37.8
53,498
8,700
17,524
24
44,922
2,059
57,760
2,205
487,105
36,541
2 17,767
3,940
3,793.7
172.9
(D)
(D)
(D)
(D)
101
1,473
401
25
(D)
4,520
569
245
109
2
692
5,030
4,474
89
11,855
9,497.8
(D)
(D)
(*)
3
12
0
(D)
9
0
(D)
(*)
(*)
(D)
0
2
(*)
(D)
1,346
888
(D)
47,823
1,450
684
45,254
(D)
(D)
5,771
(D)
13
263
(D)
(D)
Addenda:
E uropean U nion ( 2 5 ) 2 ...........................................
O P E C 3.......................................................................
MOFA Majority-owned foreign affiliate
* Less than $500,000 (+/-).
D Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1 to table 15.1.
2. See footnote 1 to table 16.
3. See footnote 2 to table 16.
44
U .S . M u ltin a tio n a l C o m p a n i e s
N ovem ber
2008
Table 18.1. Employment of Majority-Owned Nonbank Foreign Affiliates, Country by Industry of Affiliate, 2005
[T h o u s a n d s o f e m p lo y e e s ]
M anufacturing
O f w h ich :
All
industries
M ining
U tilities
Total
Food
All countries...............................................
9,101.3
171.9
Canada......................................................................
1,094.2
21.5
Europe......................................................................
3,946.5
35.2
A u s tria ........................................................................
B e lg iu m ......................................................................
C zech R e p u b lic ........................................................
D e n m a rk ....................................................................
F in la n d ........................................................................
France.........................................................................
G e rm a n y ....................................................................
G re e c e ........................................................................
H u n g a ry ......................................................................
Ire la n d ........................................................................
Italy
Luxem bourg...............................................................
N e th e rla n d s ...............................................................
Norway
P o la n d ........................................................................
P o rtu g a l......................................................................
R u s s ia ........................................................................
S p a in ...........................................................................
S w eden.......................................................................
S w itze rla n d ................................................................
Turkey
United K in g d o m ........................................................
O th e r ...........................................................................
40.2
121.6
64.9
39.2
24.8
588.6
594.2
16.3
52.3
92.4
231.8
12.5
188.1
28.6
104.6
29.6
59.6
190.0
106.8
70.1
31.5
1,148.1
110.7
(*)
0.1
0.4
0.1
0.0
0.4
4.4
(*)
7.2
I
(*)
0.9
0.0
0.0
0.1
0.0
0.0
0.1
I
I
Latin America and Other Western Hemisphere
1,714.6
59.5
S outh A m e ric a ..........................................................
A rg e n tin a ...............................................................
B ra z il......................................................................
C h ile .......................................................................
C o lo m b ia ...............................................................
E c u a d o r.................................................................
Peru
V en e zu e la .............................................................
O th e r ......................................................................
O ther W estern H e m isp h e re ..................................
B a rb a d o s ...............................................................
B e rm u d a ................................................................
D om inican R epublic............................................
U nited Kingdom Islands, C a rib b e a n ..............
O th e r ......................................................................
716.6
94.8
4 02.4
65.4
50.8
7.1
29.7
55.2
11.1
944.3
36.3
19.7
836.3
16.8
35.2
53.7
0.9
2.6
24.3
9.8
16.0
41.9
10.0
2.7
H
5.7
0.9
12.4
5.3
G
14.2
0.0
0.0
13.9
0.2
0.1
3.5
0.1
(*)
0.0
2.2
1.2
(*)
A
0.1
G
573.1
17.7
11.6
518.3
1.3
24.2
27.7
0.2
0.2
18.6
I
H
A frica........................................................................
154.7
17.1
H
84.4
E g y p t...........................................................................
N ig e ria ........................................................................
South A fric a ...............................................................
O t h e r ..........................................................................
21.2
7.6
66.1
59.8
1.0
6.0
n
10.1
0.0
0.1
0.0
H
Middle East..............................................................
62.0
6.8
Israel
Saudi A ra b ia ..............................................................
United Arab E m ira te s .............................................
O th e r ..........................................................................
42.6
3.2
7.3
8.9
(*)
0.6
1.7
4.5
2,129.3
31.8
282.3
521.8
112.8
185.2
102.2
232.5
101.5
114.9
41.5
88.8
116.4
83.8
122.6
23.1
6.5
1.2
C entral A m e ric a ........................................................
C osta R ic a ............................................................
H o n d u ra s...............................................................
M e x ic o ...................................................................
P a n a m a .................................................................
O th e r ......................................................................
Asia and Pacific.....................................................
A ustra lia ......................................................................
C hina
H ong K o n g .................................................................
India
In d o n e s ia ...................................................................
Japan
Korea, Republic o f ...................................................
M a la y s ia .....................................................................
N ew Z e a la n d ............................................................
P h ilip p in e s .................................................................
S in g a p o re ..................................................................
T a iw a n ........................................................................
T h a ila n d ......................................................................
O th e r ..........................................................................
(*)
(*)
0.1
0.2
0
4.7
4.1
0.0
0.0
I
0.1
0.0
G
n
0.4
17.1
(*)
(*)
1.8
0.3
(*)
1.3
0.0
1.9
1.2
55.6 4,449.7
P rim ary
C om puters
and
and
M achinery
C hem icals
electronic
fabricated
m etals
products
Electrical
equipm ent, Transpor
appliances,
tation
and
equipm ent
com ponents
W holesale
Inform ation
trade
Finance
(except
deposito ry
institutions)
and
insurance
P ro
fessional,
scientific,
O ther
and
industries
te chnical
services
379.3
572.5
225.8
362.5
639.5
240.1
957.4
715.7
316.7
276.1
561.1
378.7
35.5
34.3
20.5
19.1
18.2
9.4
107.5
73.1
18.3
25.5
53.1
518.7
13.8 1,891.6
5.2
2,554.5
134.5
283.8
131.7
193.6
158.0
105.7
464.3
376.6
167.9
122.1
279.3
1,060.0
20.5
70.7
52.4
16.3
13.0
247.4
374.9
6.6
40.4
56.9
120.5
7.9
100.2
9.5
75.9
18.0
22.7
105.8
59.9
22.0
17.2
359.3
73.4
1.6
6.1
0.4
1.7
0.0
16.9
11.5
1.6
1.4
2.0
4.0
0.0
18.0
0.9
14.8
2.0
7.1
7.8
G
1.7
G
26.3
5.8
1.8
16.0
2.4
1.3
1.2
42.7
41.7
1.9
0.9
13.2
29.1
0.7
27.2
0.8
4.0
1.7
3.0
16.4
5.2
5.7
5.3
56.1
5.5
0.6
2.2
2.5
0.7
0.3
12.7
21.8
0.5
3.9
0.9
8.7
0.9
8.5
0.8
5.1
0.6
2.0
1.7
8.1
1.0
4.3
22.0
30.5
0.1
4.4
20.2
9.1
0.0
4.1
0.6
2.4
0.5
1.3
4.9
3.9
2.7
0.1
30.3
3.9
0.6
2.7
4.7
0.3
0.4
10.3
21.1
0.0
J
1.5
9.9
0.0
3.5
7.1
17.9
21.5
0.1
0.2
40.4
136.9
0.0
10.8
1.0
21.3
(*)
16.5
H
(*)
8.4
0.2
25.5
8.4
0.9
37.2
32.8
0.7
4.2
78.3
10.6
7.5
13.6
3.6
4.4
4.2
55.5
72.1
3.8
2.4
5.8
22.7
0.3
26.4
3.8
7.0
4.4
4.4
20.2
9.3
25.8
9.7
65.7
4.2
1.8
5.2
0.7
1.0
0.9
13.6
12.5
0.2
3.2
4.0
11.2
0.2
9.7
(*)
7.5
1.8
0.8
0.1
22.6
28.1
2.5
7.6
5.0
4.7
2.9
29.3
41.9
0.2
1.8
1.5
17.9
0.1
10.5
2.3
1.7
1.7
2.6
5.5
4.6
3.1
0.1
42.1
4.0
0.9
1.7
1.1
0.8
6.2
4.2
1.7
0.2
85.1
1.7
0.4
2.7
G
0.5
0.4
9.7
9.5
1.6
0.4
3.4
4.9
1.7
4.7
0.7
1.1
0.7
A
5.1
1.6
1.7
0.3
68.0
G
2.8
10.4
1.8
10.8
3.5
20.6
34.5
0.7
3.0
6.7
19.0
0.7
16.7
1.5
4.5
1.5
1.6
14.0
5.9
5.9
1.0
108.9
3.4
7.1
18.8
H
6.0
2.8
241.4
86.2
3.3
2.7
15.4
53.1
1.7
25.6
8.2
13.5
3.9
J
38.5
26.0
J
2.9
M
J
27.5
983.1
118.9
111.3
36.9
64.5
100.9
49.1
266.4
67.7
51.4
23.6
34.1
467.7
23.2
G
12.8
3.1
0.0
3 82.4
41.7
269.1
11.6
19.4
3.6
4.3
29.4
3.2
50.2
8.7
26.3
G
4.0
0.5
1.3
6.3
G
67.1
2.3
2.2
57.6
0.3
4.7
1.6
68.5
9.9
40.6
4.0
4.5
0.9
1.6
6.5
0.5
39.8
1.4
0.4
34.9
0.6
2.6
3.0
0.1
0.1
1.6
13.9
0.4
10.1
0.3
2.1
37.0
1.2
32.6
0.8
A
16.7
0.5
15.7
0.2
0.2
10.8
0.2
9.8
(*)
(*)
G
0.0
27.3
0.0
(*)
(*)
(*)
0.1
84.2
I
0.0
76.0
37.3
3.5
19.6
3.8
3.9
1.1
2.0
2.4
1.1
27.8
4.9
15.6
4.0
0.6
0.2
1.2
0.3
1.0
16.2
0.2
13.2
3.3
4.6
2.2
1.4
0.1
0.2
G
A
8.1
0.0
0.1
7.2
0.4
0.5
2.3
20.2
3.0
13.6
1.4
0.9
(*)
0.2
0.7
0.1
22.5
0.3
0.1
22.1
86.4
9.6
66.6
0.5
G
F
0.0
7.6
170.6
K
64.5
K
19.0
1.2
8.8
J
3.3
288.6
13.4
7.8
248.2
13.5
5.8
8.4
0.2
0.4
G
G
I
0.1
(*)
0.4
0.0
0.0
(*)
0.2
0.0
0.2
0.0
0.1
0.0
0.1
n
0.4
4.9
A
2.4
0.1
0.0
0.4
0.1
1.7
1.9
0.0
(*)
0.0
G
0.1
A
(*)
0.1
0.5
(*)
0.2
1.8
(*)
0.3
0.0
0.0
0.4
0.0
38.3
1.6
0.0
36.7
0.0
(*)
0
(*)
0.0
0.0
0.0
0.0
0.0
0.0
(*)
180.0
0.0
H
M
0.0
0.1
0.1
0.1
0.0
0.0
0.0
0.0
(*)
G
(*)
(*)
(*)
0.0
28.3
2.3
0.2
22.9
1.3
1.6
2.1
0.1
0.8
0.5
0.1
0.6
(*)
15.1
(*)
0.8
7.4
0.1
(*)
0.5
0.4
0.2
0.1
(*)
0.3
9.3
9.1
2.3
5.0
0.2
2.4
20.4
13.9
3.6
1.4
4.0
K
15.5
0.5
37.4
31.0
G
0.0
2.5
H
1.7
0.3
5.7
1.4
0.4
G
0.1
2.4
A
(*)
0.0
0.2
0.0
0.0
14.1
6.3
1.4
0.4
8.7
3.4
0.3
0.0
0.7
0.4
0.1
(*)
0.3
0.0
2.1
0.0
0.1
(*)
1.1
0.8
2.8
0.6
13.1
J
0.3
31.2
G
2.9
0.1
2.1
17.2
0.1
3.5
1.2
7.6
8.4
26.2
0.6
1.8
2.6
G
0.0
0.0
0.0
0.1
1.1
0.2
0.7
17.1
0.1
0.1
0.0
(*)
(*)
(*)
0.0
(*)
0.0
(*)
0.0
0.0
1.5
0.5
0.9
0.1
2.7
0.1
0.4
0.2
0.5
(*)
0.0
2.3
0.3
0.2
0.1
(*)
0.0
3.0
0.0
(*)
0.3
0.4
5.8
0.4
1.1
0.4
5.9
0.9
1.1
0.5
L
131.1
34.3
78.3
345.0
73.3
98.6
181.3
72.0
102.3
183.0
M
19.2
17.1
0.2
2.8
I
0.6
1.1
10.2
15.2
1.2
1.8
0.0
1.1
1.0
0.2
0.2
8.1
33.6
1.7
14.6
0.4
4.5
5.5
1.2
0.2
0.3
3.7
1.5
2.9
3.4
112.2
6.0
8.5
0.7
18.1
16.0
68.7
0.6
29.5
36.9
13.6
30.7
20.2
18.1
22.8
25.5
15.5
19.5
2.2
36.0
8.7
13.2
H
8.0
3.5
2.5
38.7
5.4
1.9
1.4
3.6
4.3
10.0
5.3
G
26.8
7.7
8.3
66.1
0.5
39.0
4.7
2.4
2.7
13.7
6.1
3.4
1.7
0.1
89.0
154.0
J
18.6
11.8
39.2
23.9
12.2
11.7
4.6
26.3
29.1
21.5
I
118.3
0.8
118.8
4.1
268.3
3.1
1,003.4
25.6
I 1,080.7
n
0.2
100.8
319.6
52.9
62.8
67.2
69.8
56.5
88.5
20.0
60.1
59.8
28.3
84.8
9.6
0.9
H
11.8
0.4
0.6
14.2
G
13.4
39.3
1.7
11.2
7.6
26.7
4.5
3.9
1.3
5.1
5.1
3.8
5.1
2.3
7.4
5.4
1,784.4
99.9
119.6
11.9
265.5
14.9
(*)
0.4
0.0
(*)
0.0
0.1
1.9
(*)
0.0
(*)
0.8
1.1
1.5
0.1
(*)
(*)
5.0
41.4
11.2
G
G
2.3
0.9
H
0.4
4.2
1.9
0.2
0.6
0.0
183.7
3.5
150.6
0.9
103.1
1.7
(*)
1.1
0.0
0.6
0.6
(*)
10.4
(*)
1.2
0.3
G
F
C)
H
0.4
H
(*)
0.4
0.8
0.1
13.5
2.6
(*)
0.2
0.0
0.0
0.0
(*)
0.0
0.2
(*)
(*)
0.2
(*)
27.3
0.0
(*)
4.8
0.1
0.8
8.8
0.7
(*)
2.6
0.9
I
3.8
3.0
7.2
G
7.3
2.5
4.3
14.8
11.6
7.0
3.6
22.7
8.8
3.6
14.4
0.4
9.8
2.2
0.8
3.0
0.6
3.8
1.3
0.4
0.1
453.5
8.7
330.3
6.5
163.4
1.5
(*)
9.8
1.1
4.7
22.5
1.6
(*)
(*)
0.1
(*)
(*)
3.5
0.3
Addenda:
E uropean U nion ( 2 5 ) 1............................................
O P E C 2.......................................................................
* Fewer than 50 employees.
1. See footnote 1 to table 16.
2. See footnote 2 to table 16.
3,693.8
180.4
17.8
34.3
Note. The following ranges are given in employment cells that are suppressed: A— 1 to 499; F—500 to 999; G— 1,000
to 2,499; H— 2,500 to 4,999; 1— 5,000 to 9,999; J— 10,000 to 24,999; K— 25,000 to 49,999; L— 50,000 to 99,999;
M— 100,000 or more.
November 2008
Survey of Current Business
45
Table 18.2. Employment of Majority-Owned Nonbank Foreign Affiliates, Country by Industry of Affiliate, 2006
[Thousands of employees]
M anufacturing
O f w h ich :
All
industries
M ining
Utilities
Total
Food
C hem icals
Electrical
P rim ary
C om puters
equipm ent,
and
and
M achinery
appliances,
electronic
fabricated
and
products
metals
com ponents
Finance
Pro
(except
fe ssional,
O ther
deposito ry scientific,
W holesale
Inform ation
institutions)
and
trade
industries
Transpor
te chnical
and
tation
insurance services
equipm ent
All countries..............................................
9,497.8
167.7
46.1
4,536.3
402.7
579.9
237.7
369.5
691.6
249.7
953.4
763.0
331.2
292.6
585.5
Canada .....................................................................
1,081.9
20.9
5.8
371.8
37.9
42.3
22.5
19.5
19.8
8.6
98.5
75.0
20.1
26.1
55.6
506.4
Europe......................................................................
4,082.6
29.1
13.3
1,891.3
136.3
275.0
141.7
200.9
171.1
110.3
445.9
393.5
175.0
124.2
288.1
1,168.2
A u s tria ........................................................................
B e lg iu m ......................................................................
Czech R e p u b lic ........................................................
D e n m a rk.....................................................................
F in la n d ........................................................................
F ra n c e ........................................................................
G e rm a n y.....................................................................
G re e ce ........................................................................
H u n g a ry ......................................................................
Ire la n d ........................................................................
Ita ly ..............................................................................
L u xem bourg...............................................................
N e th e rla n d s ...............................................................
N o rw a y .......................................................................
P o la n d ........................................................................
P o rtu g a l......................................................................
R u s s ia ........................................................................
S p a in ...........................................................................
S w e d e n ......................................................................
40.0
126.4
66.7
45.7
22.6
590.5
592.1
16.3
59.3
n
0.1
0.4
0.2
0.0
0.3
4.4
0.1
1.8
16.7
2.4
1.2
1.2
35.2
41.2
1.8
0.7
12.5
29.5
0.8
27.9
0.8
3.9
2.3
3.1
15.7
5.1
6.1
5.3
55.0
4.7
0.5
3.8
2.5
0.7
0.3
16.4
21.3
0.3
4.0
0.9
8.5
0.6
8.7
0.7
5.4
0.6
I
7.3
2.3
0.8
0.2
22.4
K
2.3
1.8
8.5
1.0
3.3
19.1
33.9
7.8
14.7
24.2
0.1
0.3
39.9
122.1
0.0
12.6
1.0
19.4
2.5
1.8
1.9
4.2
5.8
5.0
2.9
0.1
45.9
4.2
(*)
5.5
17.8
9.5
0.0
7.9
0.7
2.5
1.2
G
5.1
H
3.7
0.1
37.6
H
0.5
2.8
5.0
0.4
0.3
10.1
24.0
0.0
J
1.5
10.8
0.0
3.3
(*)
I
G
1.7
6.8
0.6
0.9
0.0
15.9
11.5
1.6
1.8
1.5
3.8
0.0
18.4
0.9
17.1
1.9
9.3
7.6
G
1.7
G
24.5
6.0
2.6
7.8
4.0
5.0
2.9
30.4
42.0
0.2
2.1
1.6
17.6
0.1
10.2
n
0.1
0.0
0.0
0.1
0.0
0.0
0.1
I
I
22.3
70.6
53.9
21.7
12.2
226.9
366.8
6.3
46.5
52.7
119.7
7.4
102.5
9.1
80.2
17.9
33.0
102.8
55.8
23.3
17.6
360.3
81.7
(*)
17.5
H
(*)
8.2
0.2
28.2
7.6
0.9
34.9
28.7
0.7
4.1
71.1
19.0
7.8
15.1
3.8
4.9
4.1
54.8
71.7
3.9
2.4
5.9
24.9
0.2
27.0
3.9
6.6
4.2
5.2
20.3
9.2
28.0
17.9
67.0
4.9
1.7
5.0
1.0
0.9
0.8
13.4
13.3
0.2
3.5
6.1
10.7
0.2
9.6
0.5
1.7
1.2
0.6
6.5
2.6
3.7
0.2
88.2
3.5
0.4
3.4
1.2
0.4
0.4
8.2
9.8
1.7
0.4
3.2
5.3
1.7
5.0
0.7
1.1
0.7
0.4
5.2
1.6
1.9
0.5
70.0
0.9
3.0
10.6
2.1
10.7
3.5
22.0
37.5
0.6
3.8
6.9
18.5
0.7
16.0
1.6
4.9
1.5
2.3
15.0
5.8
6.1
0.9
110.5
3.3
4.8
21.6
4.3
6.7
1.6
264.7
88.5
3.6
2.7
18.2
62.4
1.7
48.4
11.6
15.1
4.1
J
41.2
28.9
J
2.8
M
J
(*)
(*)
0.1
0.2
(*)
(*)
0.3
0.0
0.2
0.2
0.0
0.2
0.0
2,775.5
S w itz e rla n d ................................................................
T u rke y.........................................................................
United K in g d o m ........................................................
O th e r ..........................................................................
93.1
241.8
12.0
213.0
30.5
109.8
29.6
71.8
191.3
103.9
76.1
40.1
1,191.3
118.6
Latin America and Other Western Hemisphere
1,847.8
58.1
19.3
1,054.0
135.9
113.9
33.8
55.2
105.1
57.9
280.3
73.4
53.3
27.9
37.1
524.6
S outh A m e ric a ..........................................................
A rg e n tin a ...............................................................
B ra z il......................................................................
C h ile .......................................................................
C o lo m b ia ...............................................................
E c u a d o r.................................................................
P e ru ........................................................................
V enezuela..............................................................
O th e r......................................................................
40.5
10.4
2.5
4.2
6.8
0.8
8.3
6.0
1.7
13.8
0.0
0.0
13.5
0.2
0.1
3.8
0.1
15.4
G
I
402.5
43.7
283.9
11.6
21.1
3.7
4.5
30.5
3.4
14.6
0.5
13.6
0.2
0.2
17.1
0.2
16.2
30.6
4.5
17.9
4.2
0.6
0.2
1.4
1.0
0.8
18.4
0.2
22.0
3.4
14.8
1.4
0.9
n
(*)
G
0.0
23.3
0.0
43.2
3.6
21.5
3.8
3.9
0.9
5.8
2.8
1.1
14.9
4.4
5.6
1.6
1.4
(*)
(*)
(*)
0.1
90.5
I
0.0
82.2
89.0
9.6
68.1
0.4
G
F
0.0
8.4
0.1
0.2
G
A
10.7
0.0
0.1
9.7
0.4
0.5
2.4
(*)
0.6
0.8
0.1
14.7
2.6
(*)
0.0
2.2
1.5
(*)
0.4
A
G
71.3
10.8
41.0
4.0
5.7
0.8
1.6
6.9
0.5
39.4
1.4
0.4
34.4
0.6
2.7
3.2
0.1
0.1
1.6
31.8
1.3
26.8
F
0.4
615.0
17.2
25.8
545.0
1.3
25.6
36.6
0.2
0.3
28.0
H
H
68.6
9.2
44.2
G
3.9
0.7
1.4
5.6
G
65.7
2.3
2.3
57.8
0.3
3.0
1.6
14.8
0.5
10.8
0.3
2.1
C entral A m e rica ........................................................
C osta R ic a ............................................................
H o n d u ra s...............................................................
M e x ic o ...................................................................
P a n a m a .................................................................
O th e r......................................................................
O ther W estern H e m isp h e re ..................................
B a rb a d o s ...............................................................
B e rm u d a ................................................................
D om inican R e p u b lic ...........................................
U nited K ingdom Islands, C a rib b e a n ..............
O th e r ......................................................................
770.1
110.9
429.5
69.8
52.9
7.2
30.2
58.6
11.0
1,017.5
37.1
36.5
889.8
17.7
36.4
60.2
1.2
2.7
30.5
9.2
16.5
201.0
K
L
39.8
18.4
1.4
9.1
13.0
H
315.0
14.2
10.4
269.9
14.4
6.1
8.7
0.5
0.4
1.2
G
I
A frica........................................................................
158.5
19.1
H
81.1
E g y p t...
N ig eria.
S outh A fric a ...............................................................
O th e r...
23.2
7.3
62.6
65.4
1.2
5.6
0
12.3
0.0
0.1
0.0
H
16.3
0.6
35.2
29.0
Middle East
n
4.6
3.1
0.0
0.0
I
0.1
0.0
G
(*)
0.0
0.0
3.3
0.0
n
0.4
H
0.4
1.9
0.1
0.0
0.3
0.0
1.5
2.0
0.0
(*)
0.0
G
0.1
A
(*)
0.2
0.9
0.1
18.5
0.3
0.1
18.0
(*)
0.1
0.5
(*)
(*)
23.2
0.0
(*)
0.2
(*)
H
(*)
(*)
(*)
0.0
(*)
4.8
0.1
0.8
8.4
0.7
1.7
(*)
0.3
0.0
0.0
0.4
0.0
40.8
1.5
0.0
39.3
0.0
(*)
0.0
0.0
0.0
0.0
0.0
0.0
n
191.2
0.0
H
M
0.0
0.1
0.1
0.1
0.0
0.0
0.0
0.0
8.5
2.4
3.8
0.2
2.4
20.9
15.6
3.3
1.5
3.5
K
G
0.0
2.6
H
1.7
0.4
0.3
0.0
2.1
0.0
0.0
0.0
13.6
7.3
0.1
0.3
9.9
3.2
(*)
2.3
0.9
0.4
0.0
0.7
0.4
0.1
(*>
1.2
0.8
(*)
0.0
0.2
2.2
0.3
5.2
1.4
G
0.1
2.5
A
(*)
3.0
0.3
2.9
0.6
11.5
J
(*)
0.0
(*)
0.2
34.6
G
2.9
0.1
5.2
17.9
0.1
(*)
1.6
1.7
3.5
0.0
(*)
0.0
0.1
29.8
0.7
2.2
1.9
G
0.0
0.0
0.0
0.1
4.3
0.2
0.8
(*)
(*)
17.4
0.2
0.3
0.0
0.1
0.0
(*)
0.0
2.3
0.3
0.2
0.1
Asia and Pacific.....................................................
2,258.9
33.7
H
1,103.5
L
137.3
37.2
84.8
A ustra lia ......................................................................
C h in a ..........................................................................
Hong K ong.................................................................
In d ia .............................................................................
In d o n e sia ...................................................................
J a p a n ..........................................................................
Korea, Republic o f ...................................................
M a la y s ia .....................................................................
N ew Z e a la n d ............................................................
P h ilip p in e s.................................................................
S in g a p o re ..................................................................
T a iw a n ........................................................................
T h a ila n d ......................................................................
O th e r ..........................................................................
277.2
7.3
1.2
0.3
0.6
F
0.4
17.5
(*)
0.4
0.0
(*)
0.2
100.7
365.4
25.4
67.4
57.7
75.7
59.6
97.6
10.0
58.9
59.4
27.5
88.3
9.9
17.6
21.9
0.2
2.9
I
0.6
1.1
1.0
H
10.7
0.4
0.7
14.8
G
13.4
43.2
1.9
9.7
7.4
26.9
4.6
4.1
1.6
5.1
5.5
3.9
7.5
2.4
10.3
18.5
1.2
1.8
0.0
1.1
0.9
0.2
0.2
0.1
0.3
0.9
1.5
0.3
8.4
35.7
1.7
16.5
0.4
4.6
5.8
1.1
0.7
0.4
4.8
1.5
3.1
(*)
(*)
0.9
0.0
(*)
I
3.8
2.5
7.5
G
6.5
3.8
1,764.5
91.8
118.6
11.6
256.9
15.2
122.8
1.0
189.2
3.9
161.8
1.2
107.7
1.6
427.0
9.6
(*)
1.4
0.0
2.1
I*)
0.0
(*)
0.5
0.4
0.2
0.1
8.1
(*)
(*)
6.8
(*)
0.0
0.1
1.7
(*)
1.2
0.0
0.6
0.6
(*)
11.6
(*)
0.4
47.1
4.4
7.4
9.3
(*)
(*)
2.0
0.3
(*)
0.8
4.3
0.1
(*)
1.4
68.2
132.3
31.2
89.7
114.8
84.5
128.9
37.8
(*)
17.4
(*)
0.2
0.0
0.0
0.0
n
0.1
Is ra e l............................................................................
S audi A ra b ia .............................................................
U nited Arab E m ira te s .............................................
O th e r ..........................................................................
588.7
91.6
210.6
86.0
278.0
107.4
28.1
2.7
0.2
22.4
1.3
1.4
2.0
0.1
0.7
0.5
0.1
0.6
(*)
0.4
0.4
3.4
(*)
0.1
(*)
3.0
3.5
1.4
8.3
10.4
(*)
0.0
(*)
0.0
0.0
1.4
0.4
1.1
0.1
2.7
0.1
0.5
0.2
0.6
0.1
0.4
0.4
6.1
0.4
0.7
1.0
6.5
0.9
1.0
2.1
377.5
70.5
107.7
202.5
75.9
111.5
192.9
M
3.5
133.6
6.6
8.9
0.7
21.7
16.1
77.0
0.6
28.4
35.6
13.0
31.9
3.6
42.7
6.7
1.8
G
2.4
0.9
H
0.4
4.2
2.3
0.2
19.1
22.1
24.5
28.6
18.7
28.2
2.6
37.5
9.3
7.0
2.4
3.8
17.0
12.0
13.7
7.3
3.7
22.9
7.2
3.9
18.2
0.4
9.9
2.4
0.8
2.9
0.6
4.8
1.4
0.4
0.1
2.1
1.4
3.4
4.4
10.1
5.2
F
27.8
11.4
8.5
67.5
0.6
36.6
5.8
2.6
2.7
16.2
7.3
3.6
2.3
0.1
80.1
M
K
21.8
4.3
76.1
24.9
20.3
11.4
5.1
20.6
29.9
23.4
J
335.5
7.4
167.1
2.3
120.4
4.4
275.6
3.4
1,106.5
23.8
(*)
12.3
1.1
6.0
25.0
1.6
H
9.1
7.2
2.6
42.3
5.4
Addenda:
E uropean U nion ( 2 5 ) 1 ...........................................
O PEC 2.......................................................................
* Fewer than 50 employees.
1. See footnote 1 to table 16.
2. See footnote 2 to table 16.
3,793.7
172.9
17.7
36.1
Note. The following ranges are given in employment cells that are suppressed: A— 1 to 499; F—500 to 999; G— 1,000
to 2,499; H— 2,500 to 4,999; 1-5 ,0 0 0 to 9,999; J— 10,000 to 24,999; K -2 5 ,0 0 0 to 49,999; L— 50,000 to 99,999;
M— 100,000 or more.
U.S.
46
M u ltin a tio n a l C o m p a n i e s
N ovem ber
2008
Table 19.1. Value Added of Majority-Owned Nonbank Foreign Affiliates, Country by Industry of Affiliate, 2005
[Millions of dollars]
M anufacturing
Finance
P ro
(except
fessional,
d eposito ry scientific,
O ther
W holesale
Inform ation
Electrical
institutions)
industries
and
trade
P rim ary
C om puters
equipm ent, Transpor
and
te
chnical
and
and
appliances,
tation
M achinery
C hem icals
insurance services
electronic
fabricated
and
e quipm ent
products
m etals
com ponents
O f w h ich :
All
industries
M ining
Utilities
Total
Food
25,454
86,014
16,000
24,723
40,321
10,754
57,947
132,580
37,431
33,885
54,806
96,933
Canada......................................................................
107,700
20,879
1,094
48,079
3,516
4,625
2,023
1,571
1,541
757
11,516
8,266
1,805
2,619
4,878
20,080
Europe......................................................................
512,235
34,007
2,902 268,104
14,002
56,439
9,739
19,133
6,908
32,560
84,706
25,626
13,616
32,722
50,551
A u s tria ........................................................................
B e lg iu m ......................................................................
C zech R e p u b lic ........................................................
D e n m a rk .....................................................................
F in la n d ........................................................................
F rance.........................................................................
G e rm a n y ....................................................................
G re e c e ........................................................................
H u n g a ry ......................................................................
Ireland
Ita ly ..............................................................................
L uxem bourg...............................................................
N e th e rla n d s ...............................................................
N o rw a y .......................................................................
P o la n d ........................................................................
P o rtu g a l......................................................................
R u s s ia ........................................................................
Spain
S w e d e n .......................................................................
S w itz e rla n d ................................................................
T u rk e y ..........................................................................
U nited K in g d o m ........................................................
O th e r....... " ................................................................
5,435
21,426
3,440
5,428
3,235
49,898
78,380
2,907
2,934
37,257
29,454
595
28,583
15,017
5,896
3,979
3,124
16,408
10,800
19,375
4,561
152,983
11,120
2
19
6
1,430
0
112
1,392
2
2
148
23
1
936
10,416
0
302
838
13
136
0
1,460
1,869
96
183
187
612
0
1,962
141
546
122
474
605
246
3,870
233
131
254
6,642
6,033
319
93
12,651
3,640
2,102
5,928
118
313
184
408
2,821
-2 1 7
60
189
63
66
76
917
2,192
57
238
45
748
69
542
151
127
16
17,105
275
725
1,535
644
10
17
2,956
10,894
129
964
513
2,644
(*)
1,605
31
699
279
41
2,137
3,586
102
99
5,597
173
1,535
4,327
321
796
1,117
7,718
9,574
509
357
4,279
4,017
318
4,866
592
555
734
410
2,857
2,161
11,621
554
24,505
984
529
455
119
144
115
1,365
1,916
21
233
3,504
1,840
370
8,138
323
315
147
134
98
297
2,113
3,426
14
119
5,819
782
0
1,691
112
86
14
30
486
304
417
3
2,685
42
52
269
93
35
38
901
2,115
0
O
969
178
93
19
1,813
1,111
1,033
97
379
308
2,900
4,065
14
57
228
1,743
6
886
225
77
121
84
485
368
679
3
2,980
92
1,080
125
1,422
160
147
119
37
442
422
570
37
12,606
57
All countries...............................................
911,490 116,464
11,700 427,690
(D)
310
1,140
94
1,279
405
2,316
3,812
42
265
1,513
1,713
50
1,945
209
256
183
138
1,116
942
1,498
41
13,323
130
Latin America and Other Western Hemisphere
90,463
13,844
5,150
41,701
4,784
8,866
1,521
2,147
2,327
1,040
8,103
11,316
2,970
2,479
2,360
10,645
S outh A m e ric a ..........................................................
A rg e n tin a ...............................................................
B r a z il......................................................................
C h ile .......................................................................
C o lo m b ia ...............................................................
E c u a d o r.................................................................
P e ru ........................................................................
V e n e z u e la ..............................................................
O th e r ......................................................................
4 7,163
7,679
2 0,967
10,039
2,338
222
4,422
22,226
4,189
13,034
2,571
768
1,225
(D)
143
8
30
287
3,443
329
2,470
29
1,312
-7 2
892
289
13
3
64
26
98
1,120
10
1,574
107
1,006
83
35
4
17
321
1
552
55
O the r W e ste rn H e m is p h e re ..................................
B a rb a d o s ...............................................................
B e rm u d a ................................................................
D om inican R ep ub lic............................................
U nited K ingdom Islands, C a rib b e a n ..............
O th e r ......................................................................
29,188
1,193
530
25,359
568
1,539
14,112
1,015
5,552
1,170
1,878
4,497
4,323
337
1,822
720
687
149
203
221
183
2,394
115
83
1,755
77
364
439
187
225
-1 2 9
42
-1 0
13
C entral A m e ric a ........................................................
C osta R ic a ............................................................
H o n d u ra s ...............................................................
M e x ic o ....................................................................
P a n a m a .................................................................
O th e r ......................................................................
718
1,142
205
240
2,486
212
17,230
875
190
15,553
56
556
2,244
105
129
486
(D)
(D)
739
15
715
3
3
1
1
1
2
2,830
(D)
1,049
675
2,769
1,826
1,324
54
1,060
28
315
8
276
3,851
3,568
1,064
3,559
5,741
734
898
49
747
16
33
-2
19
36
-1
491
20
3
466
A frica........................................................................
33,406
24,526
Egypt
N igeria
South A fric a ...............................................................
O ther
2,524
8,476
5,283
17,123
1,986
8,310
121
14,109
Middle East..............................................................
8,783
4,156
Isra e l............................................................................
Saudi A ra b ia ..............................................................
U nited Arab E m ira te s .............................................
O ther
3,211
406
486
4,680
Asia and Pacific
A u stra lia ......................................................................
C hina
Hong K o n g .................................................................
In d ia .............................................................................
In d o n e s ia ...................................................................
J a p a n ..........................................................................
Korea, Republic o f ...................................................
M a la y s ia ....................................................................
N ew Z e a la n d ............................................................
P h ilip p in e s .................................................................
S in g a p o re ..................................................................
T a iw a n ........................................................................
T h a ila n d ......................................................................
O th e r ...........................................................................
(*)
(D)
24
0
(D)
O
12,632
(D)
24
(D)
(D)
2,392
11,877
2,515
1,555
1,269
27,838
52,019
2,154
1,697
25,592
19,892
2,609
18,787
3,029
4,213
2,767
1,950
9,811
5,359
5,008
3,799
58,773
3,201
(*)
20
0
0
(*)
592
0
57
0
0
(*)
5
1
136
0
0
10
0
0
27
(D)
260
(D)
3,725
181
(D)
255
696
0
-2 4 1
3
70
4
8
640
71
278
1
1,256
(D)
0
233
56
1,140
(D)
57
-7
1,345
1,200
94
25
-9 5
385
-4 2 4
-1 5 7
3
211
24
(D)
552
152
-3 2
21
9,100
(D)
167
337
9,204
7,875
85
298
2,316
2,343
-2 ,0 8 5
780
608
379
153
(D)
1,596
1,763
(D)
82
(D)
(D)
(D)
4 ,723
1,083
2,301
290
348
40
100
535
26
3,673
42
11
3,505
48
68
470
3
8
138
4
317
(*)
(*)
4
0
0
27
0
717
82
0
634
0
1
7
0
0
0
7
0
(D)
(D)
768
0
3
743
7
16
1,271
204
745
0
87
236
3,103
202
618
88
202
20
97
735
1,344
220
160
258
(D)
0
77
58
15
444
101
8
-1
42
39
(D)
(*)
158
4
0
93
0
0
0
689
46
122
52
713
457
7
3
188
22
(*)
102
39
8
-5
249
6
111
19
1,970
(D)
2
0
18
0
20
(D)
270
59
1,942
832
190
2,287
373
9
124
1,375
11
-6
395
490
174
653
437
59
135
-2 2 1
4,183
0
1
0
188
1,840
125
276
46
(D)
(D)
115
94
160
5
0
0
8
1
60
8
55
1
1,342
30
4
0
8
0
4
0
0
-6
0
0
139
67
176
13
421
10
52
7
26
21
59
69
557
47
61
-1 2
169
-1
83
186
158,903
19,052
(D)
64,416
15,093
2,621
3,574
15,925
1,940
5,040
26,552
6,322
14,838
13,935
(D)
32,780
16,221
8,092
4,396
7,955
39,281
8,956
6,502
3,513
3,283
13,392
5,186
6,613
2,732
5,523
1,866
1
108
5,754
4
1
2,504
80
493
174
39
11,963
11,160
1,553
1,677
1,733
11,511
5,308
2,947
1,525
1,586
7,350
2,299
3,532
271
1,725
3,007
230
548
183
4,722
677
1,852
342
40
74
-6
6
116
11
22
629
283
618
119
1,739
434
6
149
9
535
1,280
17
2
2,163
303
304
440
(D)
2,985
538
1,084
1,274
22
6,148
587
123
203
111
411
357
88
6
3,893
999
(D)
5,210
1,128
3,237
669
75
8,513
1,145
434
922
147
3,101
1,086
495
391
1,005
889
134
278
18
488
431
50
15
17
412
95
117
1
242
4,273
258
257
6
1,861
1,440
2,227
87
656
3,050
803
732
34
461,468
28,000
16,740
20,479
16,073
249
18,551
40
32,236
424
71,102
603
24,797
113
13,581
234
30,802
429
(D)
1,509
(*)
0
1,490
12
7
2,296
(*)
-1 3
0
349
1,959
(*)
1,832
710
(D)
2,879
692
0
8
88
505
(D)
407
-7
0
125
20
268
321
0
(*)
(D)
21
(D)
(D)
0
37
0
(D)
(D)
(*)
198
0
-3
(*)
2
529
2
0
14
168
(D)
2 ,124
40
32
1,963
3
86
89
13
0
(D)
12
(D)
0
5
0
(D)
1,466
405
27
48
(D)
62
145
39
(D)
127
35
41
145
319
144
334
2,202
617
(D)
1
3
(D)
(*)
753
0
(*)
1
132
(*)
752
0
1
70
(*)
(*)
4
33
94
(’ )
68
0
2
0
(*)
(D)
320
65
57
48
55
7
12,926
380
53,489
992
9,290
38
1,435
(D)
0
1,129
(*)
(D)
152
86
55
0
11
(D)
(D)
446
127
(D)
24
51
151
30
20
0
(D)
(D)
0
421
3
4 ,657
0
(D)
(D)
0
(*)
3
3
0
0
0
0
(D)
423
143
253
4,600
566
2,315
64
1,172
484
(*)
1,083
4
25
537
-2
36
(D)
-1 1 7
11
1,595
252
57
220
27
795
128
20
7
(D)
(D)
1,197
53
45
8,597
1,129
219
122
134
845
954
377
(*)
483
6
8
234
5
212
(*)
12
6
(D)
887
(D)
600
30
165
(D)
67
5,208
145
255
4,127
385
296
2,607
137
2,129
(D)
(D)
(D)
(D)
(D)
(D)
175
118
2,914
536
217
439
255
714
361
255
(D)
Addenda:
European U nion ( 2 5 ) 1............................................
O P E C 2.......................................................................
* Less than $500,000 (+/-).
D Suppressed to avoid disclosure of data of individual companies.
2,770 252,723
826
4,700
1. See footnote 1 to table 16.
2. See footnote 2 to table 16.
6,617
40
48,952
616
N ovem ber
Survey o f C urrent Business
2008
47
Table 19.2. Value Added of Majority-Owned Nonbank Foreign Affiliates, Country by Industry of Affiliate, 2006
[M illio n s o f d o lla rs ]
M anufacturing
Finance
P ro
(except
fessional,
d eposito ry scientific,
W holesale
O ther
Inform ation
Electrical
institutions)
and
trade
industries
Prim ary
C om puters
equipm ent, Transpor
and
technical
and
and
C hem icals
M achinery
appliances,
tation
insurance services
fabricated
electronic
and
e quipm ent
m etals
products
com ponents
O f w h ich :
All
industries
M ining
Utilities
Total
Food
All countries..............................................
995,638 129,703
11,168 455,497
28,294
86,228
18,881
27,744
47,276
12,115
62,687
142,512
40,607
38,043
57,745
120,364
50,962
3,880
5,906
2,754
1,818
1,475
716
11,744
9,621
2,108
4,979
5,062
21,752
3,425 275,189
14,949
53,374
10,932
18,955
21,937
7,674
34,579
88,642
27,581
11,758
35,035
66,128
341
44
290
152
157
117
165
1,784
6,177
819
1,491
843
11
18
3,074
11,472
0
269
52
988
1,537
3,882
360
884
1,137
7,493
10,444
556
352
6,129
4,858
361
4,243
654
612
697
640
2,902
2,236
12,813
1,167
2 3,504
1,182
286
566
90
141
116
1,627
2,089
21
254
4,349
1,116
-7 8
1,493
101
148
132
26
467
244
843
39
13,415
96
72
5
271
6,612
889
0
927
98
89
56
44
282
96
42
42
954
2,616
0
1,059
-2 5
54
-1
1,582
1,457
97
27
532
426
-2 1 4
548
79
230
21
28
466
90
12
28
4,880
311
370
1,236
117
1,349
428
2,712
4,144
44
298
1,277
2,060
61
2,205
207
253
229
166
1,410
923
1,130
38
14,272
105
375
2,965
537
187
213
10,384
8,201
88
368
8,648
2,488
1,455
1,626
820
287
348
226
(D)
3,988
234
240
4,188
255
131
265
4,910
5,910
360
75
12,483
4,055
153
4,919
123
341
222
414
2,740
-2 5 3
2,558
482
8,489
315
C anada.....................................................................
114,247
19,104
Europe......................................................................
540,683
32,925
A u s tria ........................................................................
B e lg iu m ......................................................................
Czech R e p u b lic ........................................................
D e n m a rk.....................................................................
Fin la n d ........................................................................
F ra n c e ........................................................................
G e rm a n y.....................................................................
G re e ce ........................................................................
H u n g a ry ......................................................................
Ire la n d ........................................................................
Ita ly ..............................................................................
Luxe m b o u rg ...............................................................
N e th e rla n d s ...............................................................
N o rw a y .......................................................................
P o la n d ........................................................................
P o rtu g a l......................................................................
R u s s ia ........................................................................
S p a in ...........................................................................
S w e d e n ......................................................................
S w itze rla n d ................................................................
T u rke y.........................................................................
United K in g d o m ........................................................
O th e r ...........................................................................
5,204
22,219
3,737
6,162
3,212
50,013
85,285
2,955
3,385
48,594
30,911
2,348
26,610
14,168
6,381
4,217
4,014
17,631
10,123
22,714
5,731
154,818
10,253
2
20
6
1,635
0
47
1,703
2
2
158
29
1
975
9,826
0
Latin America and Other Western Hemisphere
105,370
S outh A m e ric a ..........................................................
A rg e n tin a ...............................................................
B ra z il......................................................................
C h ile .......................................................................
C o lo m b ia ...............................................................
E c u a d o r.................................................................
P e ru ........................................................................
V enezuela.............................................................
O th e r......................................................................
O ther W estern H em isp h e re ..................................
B a rb a d o s ...............................................................
B e rm u d a ................................................................
D om inican R e p u b lic ...........................................
U nited K ingdom Islands, C a rib b e a n ..............
O th e r ......................................................................
53,009
8,100
24,900
4,871
3,917
700
4,263
5,417
841
32,372
1,261
583
28,353
627
1,549
19,989
2,773
6,503
1,112
3,536
6,065
A frica........................................................................
38,569
E gypt...
N ig e ria ........................................................................
S outh A fric a ...............................................................
O th e r...
2,891
12,538
5,553
17,587
12,331
65
14,633
(U)
Middle E a s t.............................................................
13,450
7,557
Israel............................................................................
Saudi A ra b ia .............................................................
United Arab E m ira te s .............................................
O th e r ..........................................................................
3,968
471
3,687
5,323
88
179
2,871
4,419
Asia and Pacific......................................................
183,319
A ustra lia ......................................................................
C hina..
H ong K ong.................................................................
In d ia .............................................................................
In d o n e sia ...................................................................
J a p a n ..........................................................................
Korea, R epublic o f ...................................................
M a la y s ia .....................................................................
N ew Z e a la n d ............................................................
P h ilip p in e s.................................................................
S in g a p o re ..................................................................
Taiwan
T h a ila n d ......................................................................
O th e r..
39,040
18,413
10,637
5 ,294
9,809
39,380
11,021
7,761
2,812
3,841
16,560
5,682
C entral A m e ric a ........................................................
C osta R ic a ............................................................
H o n d u ra s...............................................................
M e x ic o ...................................................................
P a n a m a .................................................................
O th e r ......................................................................
659
27
(D)
(O)
2,535
12,492
2,652
1,868
1,320
26,170
56,425
2,146
2,009
27,500
19,901
761
15,516
2,481
4,851
2,791
2,318
10,659
5,195
6,342
4,352
6 0,882
4,024
(D)
307
699
132
465
336
3,262
4,485
15
93
141
1,777
6
936
247
92
134
157
663
432
819
3
3,645
112
(D)
(D)
(’ )
1,564
24
874
253
42
2,812
3,159
114
185
6,150
367
17,437
4,525
47,589
5,737
10,367
1,805
2,179
2,316
1,491
9,718
13,421
3,242
3,589
2,490
13,078
10,735
2,280
213
1,692
1,190
284
3,343
1,488
246
2,051
3,768
26,477
4,276
16,806
787
1,338
259
277
2,540
193
18,726
947
250
16,937
44
548
2,385
125
184
882
3,068
815
1,660
1,197
57
1,018
18
35
-3
22
50
-1
492
30
4
458
1,299
69
1,118
677
16
652
3
3
1
1
1
2
1,471
737
9
694
4,684
392
3,543
23
1,781
255
972
316
13
3
76
64
81
1,243
10
470
133
253
-6 2
52
-1 1
15
3,219
(*)
1,212
4
17
219
-4
32
5
150
36
629
0
3
602
7
17
2,490
279
823
0
1,071
317
1,506
118
979
84
37
4
34
248
3
716
59
(*)
3
3
0
0
0
0
5,053
354
2,288
757
702
116
377
274
186
2,404
96
67
1,792
80
370
5,963
1,895
2,165
72
1,380
451
(*)
(0)
24
0
(D)
(*)
(D)
(D)
(*)
1
43
0
(*)
822
0
76
0
33
0
3
1
1
0
0
-4 2
0
0
29
899
16
92
0
1,455
1,921
107
114
317
620
0
2,177
129
531
109
601
672
(D)
285
73
80
79
1,287
2,156
-3 5
205
45
832
43
568
132
146
17
(D)
1,265
259
94
19
1,945
(D)
(D)
(D)
14
(O)
(D)
(D)
6,374
1,043
3,844
303
358
50
107
641
28
3,569
56
12
3,395
36
71
424
3
21
150
4
246
29,369
(D)
3,210
258
679
94
2,341
0
52
0
287
71
2,053
800
(D)
0
78
(0 )
64
16
489
109
8
-1
44
43
155
3,030
(D)
422
9
0
1
0
154
2,126
141
345
418
0
6
0
133
99
185
5
0
0
8
1
23,310
(D)
75,517
(D)
15,480
3,286
8,299
1,496
1
116
6,532
4
1
2,675
69
393
201
41
87
14,544
12,230
1,815
1,939
2,735
11,518
6,705
4,150
827
1,834
9,909
2,611
1,644
545
24
64
(D)
1,756
2,758
223
553
218
4 ,707
770
223
178
363
2,620
569
459
83
2,460
356
32
85
-7
97
95
12
23
1
15
33
63
22
13,664
299
49,600
1,166
10,449
51
(*)
0
2,030
14
7
4,651
n
325
0
641
3,685
8,682
4,387
n
2,733
790
487,105
36,541
18,359
27,331
(D)
(l»
832
0
11
86
(D)
25
355
-8
0
125
0
238
402
0
(*)
122
(D)
n
263
0
-3
(*)
2
593
2
0
12
73
4,339
361
(D)
169
23
35
226
(D)
2,585
42
34
2,403
3
103
83
14
0
(D)
(D)
63
155
51
(D)
171
39
40
197
(*)
1
(D)
14
1
3
(D)
282
(D)
623
3
2,892
(D)
252
728
0
-2 0 6
3
98
4
9
530
55
394
1
1,328
O
(D)
(D)
(*)
4
0
0
30
0
754
77
0
677
0
1
0
0
0
0
0
0
218
22
91
823
1,414
217
176
(D)
4
176
(D)
2
5
0
87
0
0
0
773
50
150
68
843
353
7
0
20
0
441
1,296
12
-6
362
8
70
1
1,232
41
23
0
8
0
4
0
0
-6
0
0
4,133
20,229
2,131
5,830
739
1,120
152
298
16
501
479
43
40
22
500
91
132
1
264
4,556
493
270
6
2,096
1,680
3,451
106
758
4 ,664
866
978
40
273
817
80
42
1,390
635
7
286
10
575
2,095
13
2
17,676
160
21,183
71
(D)
(*)
777
0
(*)
775
0
1
116
103
(*)
(*)
4
39
73
(*)
101
0
1
0
(D)
0
1,214
(*)
(D)
168
105
63
0
-1
0
472
3
5,031
0
(D)
(D)
0
(D)
6,248
158
264
5,011
472
344
3,610
475
2,729
30
(D)
(D)
(D)
76
(*)
97
58
20
2,079
488
556
220
1,013
431
182
49
240
18
472
10
68
6
44
20
66
91
816
41
79
77
242
30
19
141
28,927
6,903
17,320
13,903
(D)
2,737
277
400
564
11
1,710
216
62
185
28
525
160
20
8
1,355
3,726
(D)
2,787
832
1,090
1,653
33
5,413
721
122
209
125
393
382
139
6
26,513
168
11,586
289
33,465
466
(D)
34,115
476
72,795
752
(D)
427
(D)
9
7,266
40
24
53
184
242
(D)
465
585
35
55
300
-6
232
6
118
192
(D)
(*)
13
7
79
21
33
23
0
(D)
(*)
643
7
8
267
3
245
(D)
(D)
(D)
3
185
22
5,552
2,048
3,673
800
126
8,578
1,277
475
1,012
154
3,061
1,151
686
336
419
117
(D)
(D)
(D)
1,745
1,435
(D)
2,924
12
104
8,243
1,388
94
91
147
1,511
1,002
225
(D)
(D)
(D)
210
4
3,914
715
183
418
567
958
377
528
(D)
Addenda:
E uropean U nion (2 5 ) 1............................................
O P E C 2 ......................................................................
* Less than $500,000 (+/-).
D Suppressed to avoid disclosure of data of individual companies.
3,209 257,727
840
6,223
1. See footnote 1 to table 16.
2. See footnote 2 to table 16.
63,449
472
48
November 2008
Reconciliation of the U.S.-Canadian Current
Account, 2 0 0 6 - 2 0 0 7
B
y
R
e n e e
S a u e r s ,
E
d w
a r d
D
o z ie r ,
a n d
D
e n is
O
N A R E C O N C IL E D basis, th e U.S. c u rre n t-a c
c o u n t deficit w ith C an ad a, o r C a n a d ia n su rp lu s, is
$59.7 b illio n fo r 2006 a n d $51.8 b illio n fo r 2007 (ch art
1, table l ) . 1 T h e U.S. p u b lish e d c u rre n t-a c c o u n t b a l
ance w ith C a n a d a is a U.S. deficit o f $46.0 billio n for
2006 a n d a U.S. deficit o f $37.3 b illio n for 2007; the
c o rre sp o n d in g C a n a d ia n p u b lish e d b alance is a C a n a
d ia n su rp lu s o f $58.0 b illio n fo r 2006 a n d a C a n ad ia n
su rp lu s o f $47.7 b illio n fo r 2007.2
T h e results o f th e reco n ciliatio n o f th e bilateral c u r
re n t-a c c o u n t estim ates o f C an ad a a n d th e U n ited
States fo r 2006 a n d 2007 are p re se n te d in th is article.3
T h e details o f th e c u rre n t-a c c o u n t reco n ciliatio n for
2006 a n d 2007 are p re se n te d in th e tables th a t follow
th is article. Tables 2.1 a n d 2.2 sh o w th e details o f the
m a jo r typ es o f reco n ciliatio n a d ju stm e n ts— d efin i
tio n al, m eth o d o lo g ical, a n d statistical— th a t w ere
m a d e to th e m a jo r c u rre n t-a c c o u n t c o m p o n e n ts. Ta
bles 3.1 a n d 3.2 p resen t th e p u b lish ed estim ates, th e es
tim ates o n a c o m m o n basis (after th e estim ates have
b een ad ju sted for d e fin itio n a l a n d m e th o d o lo g ica l dif
ferences), th e reco n ciled estim ates, a n d th e a m o u n ts o f
th e a d ju stm e n ts for each m a jo r c u rre n t-a c c o u n t com -
C
a r o n
p o n e n t. Tables 4 -7 p re sen t th e reco n ciliatio n details
for goods, services, a n d in v estm e n t in co m e .4
4. For the reconciliation, some o f the details presented in the tables in this
article differ from those presented in the balance-of-paym ents tables regu
larly published by the U.S. Bureau of Econom ic Analysis and by Statistics
Canada.
C h a rt
1 . U .S .- C a n a d ia n
C u r r e n t- A c c o u n t
B a la n c e
Billion U.S. $
2006
2007
2006
2007
Note. Balance shown is net northbound; a U.S. deficit is a Canadian surplus.
U.S. Bureau of Economic Analysis
1. The reconciled estimates are intended to show how the currentaccount estimates w ould appear if both countries used the same definitions,
m ethodologies, and data sources. In this article, all values are expressed in
U.S. dollars.
2. For this year’s reconciliation, the U.S. deficit for 2006 is revised up from
the previously published deficit of $40.7 billion used in last year’s reconcili
ation, and the C anadian surplus for 2006 is revised down from the previ
ously published surplus o f $59.3 billion used in last year’s reconciliation.
3. The reconciliation o f the current account has been undertaken each
year since 1970. Sum m ary results of the reconciliations were published in
the U nited States in the following issues o f the S u r v e y o f C u r r e n t B u s in e s s :
June 1975, September 1976 and 1977, December 1978 and 1979, June 1981,
and each December of 1981-91. Complete details of the reconciliations
were published in the following issues of the S u r v e y : Novem ber 1992, each
O ctober o f 1993-95, and each November o f 1996-2007. In Canada, the
results were published in the following issues o f Canada’s Balance o f Inter
national Payments (catalogue 67-001), a publication o f Statistics Canada:
Fourth Q uarter 1973, Second Q uarter 1976 and 1977, T hird Q uarter 1978
and 1979, First Q uarter 1981, and each T hird Q uarter of 1981-2007.
This article will also be published in Canada's Balance o f
International Payments, Third Quarter 2008.
Table 1. Major U.S.-Canadian Balances
[B illio n s o f U .S. d o lla rs ]
Published estim ates
United
States
R econciled estim ates
United
States
C anada
C anada
2006
G oods and s e rv ic e s ....................
G o o d s ........................................
S e rv ic e s .....................................
-6 1 .7
-75 .1
13.3
75.7
85.0
- 9 .3
-7 5 .4
-8 5 .6
10.2
75.4
85.6
- 1 0 .2
In c o m e ............................................
15.5
-2 0 .4
14.9
- 1 4 .9
0.3
2.6
0.8
- 0 .8
C u rre n t a c c o u n t .............................
-4 6 .0
58.0
-5 9 .7
59.7
2007
G oods and s e rv ic e s ....................
G o o d s ........................................
S e rv ic e s .....................................
-5 2 .5
-7 0 .6
18.1
69.1
80.3
-1 1 .2
-7 0 .5
-8 4 .0
70.5
84.0
13.5
- 1 3 .5
-1 9 .9
C urre n t unilateral transfers
In c o m e ............................................
16.9
-2 4 .6
19.9
C urrent unilateral tra n s fe rs .......
-1 .7
3.3
- 1 .2
1.2
C u rre n t a c c o u n t.............................
-3 7 .3
47.7
-5 1 .8
51.8
N otes. 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.
November 2008
Survey of Current Business
R e c o n c ile d C u rre n t-A c c o u n t B a la n c e s
In th e U.S. c u rre n t acco u n t, th e reco n ciliatio n a d ju st
m e n ts resu lt in an increase o f $13.7 b illio n in th e U.S.
deficit for 2006 a n d an increase o f $14.5 b illio n in the
U.S. deficit fo r 2007. For b o th years, th e increase in the
U.S. deficit reflects an u p w ard a d ju stm e n t to th e U.S.
s o u th b o u n d estim ates, w h ich was p a rtly offset by an
u p w ard a d ju stm e n t to th e U.S. n o r th b o u n d estim ates
(tables 2.1 a n d 2 .2 ).5 For b o th years, th e largest in
creases in th e U.S. s o u th b o u n d estim ates resu lt from
th e a d d itio n o f C an ad ian reex p o rts to U.S. goods im
p o rts (a d efin itio n al a d ju stm e n t) a n d fro m statistical
a d ju stm e n ts to s o u th b o u n d services. For 2006, the
5. In this article, the term “n o rth b o u n d ” refers to U.S. exports of goods
and services, U.S. income receipts, and current unilateral transfers to the
United States, and it refers to Canadian im ports of goods and services,
Canadian incom e payments, and current unilateral transfers from Canada.
The term “so u th b o u nd” refers to U.S. im ports of goods and services, U.S.
incom e paym ents, and current unilateral transfers from the U nited States,
and it refers to Canadian exports of goods and services, Canadian incom e
receipts, and current unilateral transfers to Canada.
49
largest increases in th e U.S. n o rth b o u n d estim ates re
su lt fro m statistical a d ju stm e n ts to “o th e r” services
an d fro m an a d ju stm e n t to b rin g U.S. tran sfers to a
gross basis (a m eth o d o lo g ical a d ju stm e n t). For 2007,
th e largest increases in th e U.S. n o rth b o u n d estim ates
result fro m statistical ad ju stm e n ts to d ire ct in v estm en t
in co m e a n d fro m d efin itio n al a d ju stm e n ts to “o th e r”
inv estm en t incom e.
In th e C an ad ian c u rre n t acco u n t, th e reconciliation
ad ju stm e n ts result in an increase o f $1.7 billio n in the
C a n ad ia n su rp lu s for 2006 an d in an increase o f $4.1
b illion in th e C a n ad ia n su rp lu s for 2007. For b o th
years, th e increases in th e C a n a d ia n su rp lu s reflect
do w n w ard a d ju stm e n ts to th e C a n ad ian n o rth b o u n d
estim ates, w hich w ere p a rtly offset by d o w n w ard a d
ju stm e n ts to th e C an ad ian so u th b o u n d estim ates. For
b o th years, th e largest d o w n w ard a d ju stm e n ts to th e
C an ad ian so u th b o u n d estim ates are fro m th e e lim in a
tio n o f th e w ith h o ld in g taxes in c u rre n t un ilateral
transfers (d efin itio n al a d ju stm e n t), from ad ju stm e n ts
N o te o n th e U .S .-C a n a d ia n C u rre n t-A c c o u n t R e c o n c ilia tio n
The U.S.-Canadian current-account reconciliation,
which explains the differences between the estimates of
the bilateral current account published by the U.S.
Bureau of Economic Analysis (BEA) and those published
by Statistics Canada, is undertaken because of the exten
sive economic links between Canada and the United
States. The reconciled estimates are intended to assist
analysts who use both countries’ statistics and to show
how the current-account estimates would appear if both
countries used com m on definitions, methodologies, and
data sources.1
In principle, the bilateral current account of one coun
try should m irror the bilateral current account of the
other country. Differences occur in the published esti
mates of the U.S. and Canadian current accounts because
of variations in the definitions, methodologies, and sta
tistical sources that are used by each country. Some of the
differences for 2007 are in com ponents of the current
account for which data are still prelim inary and subject to
revision; these differences may be eliminated when final
data for these com ponents become available.
The longstanding Canadian-U.S. current-account rec
onciliation is among the leading examples of the benefits
of international data exchanges. As a p art of the reconcili
1. A detailed article on the m ethodology was published by BEA in
“Reconciliation o f the U.S.-Canadian C urrent Account” in the N ovem
ber 1992 S u r v e y and by Statistics C anada in Reconciliation o f the Canadian-United States Current Account, 1990-1991. Statistics Canada also
published a shortened version in the Decem ber 1992 Canadian Eco
nomic Observer and in C anada’s Balance o f International Payments,
Third Quarter 1992.
ation process, Canada and the United States have evalu
ated the accuracy of each other’s estimates, and as a
result, each country now includes in its published esti
mates some data that are provided by the other country.
The exchange of data between Canada and the United
States for transactions such as trade in goods, travel, pas
senger fares, Canadian and U.S. Government transac
tions, and some large transportation transactions covers a
substantial portion of the value of the Canadian and U.S.
current account and has eliminated some of the differ
ences in the Canadian- and U.S.-published estimates. In
addition, the reconciliation process has highlighted areas
where errors and omissions may exist in each country’s
estimates, which has helped in targeting data improve
ment efforts.
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 the
reconciled estimates for published estimates and com
plete exchange of data are not feasible for several reasons.
For trade in goods, im ports 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, the pro
tection of the confidentiality of the source data bars the
exchange of data. Finally, a few differences are attribut
able to different requirements for integrating the interna
tional and national (domestic) accounts in each country.
50
U .S .-C a n a d ia n C u r r en t-A c co u n t R e co n cilia tio n
to b rin g “o th e r” in v estm en t in co m e to a n e t basis
(m e th o d o lo g ic a l a d ju stm e n t), a n d fro m a d ju stm en ts
fo r statistical differences in affiliated services. In the
C a n a d ia n n o rth b o u n d estim ates, th e largest d ow nw ard
a d ju stm e n ts for b o th years are fro m th e e lim in a tio n o f
w ith h o ld in g taxes fro m d irect in v estm en t a n d “o th e r”
in v e stm e n t in co m e (d efin itio n al a d ju stm e n ts), from
a d ju stm e n ts to b rin g “o th e r ” in v e stm e n t in co m e to a
n e t basis (m eth o d o lo g ical a d ju stm e n t), a n d fro m defi
n itio n a l ad ju stm e n ts to “o th e r” services.
S u m m a ry o f R e c o n c ilia tio n M e th o d o lo g y
In recon cilin g th e U.S.- a n d C a n a d ia n -p u b lish e d b ila t
eral c u rre n t-a c c o u n t estim ates, th e estim ates are first
restated to a c o m m o n basis— th a t is, th ey are ad ju sted
fo r d efin itio n a l a n d m e th o d o lo g ic a l differences; th e re
m a in in g a d ju stm e n ts th a t are n e e d e d to reach th e rec
o n ciled values are th e statistical ad ju stm en ts. T he
fram ew o rk fo r reco n cilin g th e U.S. a n d C a n ad ian esti
m ates to a c o m m o n basis m ain ly follows th e in te rn a
tio n a l sta n d a rd s p u b lish e d in th e In te rn a tio n a l
M o n e ta ry F u n d ’s Balance o f Payments M anual (fifth
e d itio n ). T h e U.S.- a n d C a n a d ia n -p u b lish e d estim ates
n o w largely co n fo rm to th e in te rn a tio n a l stan d ard s,
b u t som e differences w ith th e in te rn a tio n a l sta n
d a rd s— a n d b etw een th e U.S. a n d C a n a d ia n esti
m ates— re m a in in th e p u b lish ed estim ates because o f
d a ta lim ita tio n s, difficulties in d e te rm in in g c o u n try a t
trib u tio n , a n d differences in classification a n d because
in a few cases, in te rn a tio n a l sta n d a rd s pro v id e for
m o re th a n o n e acceptable tre a tm e n t.
T he d efin itio n al a d ju stm e n ts m ain ly reflect d ata
lim ita tio n s a n d differences in c o u n try a ttrib u tio n . For
exam ple, as p a rt o f th e reco n ciliatio n , U .S .-published
estim ates o f im p o rts o f goods fro m C an ad a are a d
ju ste d to in clu d e C a n a d ia n reex p o rts to th e U n ited
States (goods im p o rte d by C an ad a fro m th ird c o u n
tries a n d th e n re e x p o rte d to th e U n ite d States w ith o u t
su b sta n tia l changes) becau se U.S. im p o rts o f goods are
re co rd ed o n a c o u n try -o f-o rig in basis. A n o th e r ex am
ple o f a d e fin itio n a l a d ju stm e n t is th a t th e C a n ad ia n
estim ates, m ain ly in v estm en t in co m e, are ad ju sted to a
basis th a t is n e t o f w ith h o ld in g taxes becau se som e U.S.
w ith h o ld in g tax estim ates are in clu d ed o n a global b a
sis in th e U .S .-p u b lish ed acco u n ts a n d c a n n o t be allo
cated by c o u n try fo r c o m p a riso n w ith th e C a n ad ia n
estim ates. T his d efin itio n a l a d ju stm e n t causes th e rec
November 2008
o n ciled estim ates to d e p a rt fro m th e in te rn a tio n a l sta
tistical stan d ard s, b u t w ith o u t this a d ju stm e n t, the
d ata co u ld n o t be c o m p are d o n a c o m m o n basis.
T he m eth o d o lo g ical a d ju stm e n ts m ain ly reflect d if
ferences in classification. F or exam ple, p a rts o f th e U.S.
estim ates o f film rentals a n d c o u rier services are re
co rded in vario u s services accounts; for reconciliation,
th ey are reclassified to a single acco u n t. A few U.S. a n d
C an a d ian accounts, m ain ly in te re st incom e, are a d
ju sted to a n et o r gross basis fo r com parability. These
ad ju stm e n ts do n o t affect th e c u rre n t-a c c o u n t balance,
because th e n o rth b o u n d a n d th e so u th b o u n d m e th o d
ological a d ju stm e n ts are offsetting.
Statistical differences reflect th e use o f different
source d a ta in th e U n ited States an d C anada, th e diffi
culty in d e te rm in in g c o u n try a ttrib u tio n because o f in
sufficient data, th e p re lim in a ry n a tu re o f som e o f the
d a ta (p artic u larly for th e m o st recent year), a n d th e use
o f sam ple d a ta betw een b en c h m ark s. For b o th the
n o rth b o u n d a n d th e so u th b o u n d estim ates, m o st o f
th e statistical differences are in th e U.S. a n d C a n ad ia n
estim ates o f “o th e r” services a n d in v estm en t incom e.
A c k n o w le d g m e n ts
The reconciliations were carried out under the direc
tion of Denis Caron, Chief, Current Account, at Statis
tics Canada and Edward Dozier and Renee Sauers,
international economists at BEA. At Statistics Canada,
Angela Yuan was responsible for the production and
coordination of reconciliation tables and for reconciling
Canadian goods; Denis Caron was responsible for rec
onciling Canadian services; Christian Lajule, for Cana
dian direct investment income; and Eric Boulay, for
Canadian portfolio investment income, with the collab
oration and assistance of Komal Bobal, Heather Collier,
Marlena Ifrim, Marie-Iosee Lamontagne, Francois
Lavoie, Barry Mersereau, Robert Theberge, and Yiling
Zhang. At BEA, Mai-Chi Hoang was responsible for
reconciling goods; Edward Dozier, Vivian Wong, and
Anne Flatness, for services, with the assistance of Kristy
Howell for financial services; Gregory Fouch and Peter
Fox, for the accounts related to Canadian direct invest
m ent in the United States; Mark New, for the accounts
related to U.S. direct investment in Canada; and Kristy
Howell and Cavan Wilk, for the portfolio income
accounts.
Tables 2.1 through 7.2 follow.
November 2008
Survey of Current Business
51
Table 2.1. Summary of Reconciliation Adjustments, Northbound, 2006
[Millions of U.S. dollars]
D efinitional
United
S tates
M ethodological
C anada
G oods, balan ce-o f-pa ym en ts b a s is .........................................................-....................-..................................................
D efinitional a d ju s tm e n ts ............................................................
R eclassification o f equipm ent repairs from unaffiliated s e rv ic e s .........................................................................
S tatistical a d ju s tm e n ts ...............................................................
70
70
S e rv ic e s ...................................................................................................................................................................................
-1 5 2
-1 ,2 3 3
-1 ,2 3 3
United
S tates
S tatistical
Canada
225
512
Total
C anada
-6 6 4
-2 ,5 0 7
-2 2 5
-2 0 9
United
States
Canada
512
-6 6 4
1,710
1,375
1,333
-1 ,3 4 1
-5 0
1,060
777
283
-5 0
1,060
777
283
-5 0
Passenger fa re s .................................................................................................................................................................
-1 3 5
-1 3 5
-1 1 8
262
154
-9 2
-1 1 8
-5 0
36
35
-1 3 5
-1 1 8
262
-1 5 2
-6 6 4
-1 5 3
-1 5 3
O ther tra n s p o rta tio n ....................................................................................................................... ................
D e finitional a d ju s tm e n ts ......................................................................
R eclassification o f c o urier services to unaffiliated s e rv ic e s ......
R eclassification o f tran sportation services from unaffiliated s e rv ic e s ............................................................
S tatistical a d ju s tm e n ts ........................................................................
-1 ,8 9 7
-1 ,2 3 3
80 7
70
225
512
225
T ra ve l...............................................................................................
R eclassification of education from unaffiliated services
R eclassification of m edical services from unaffiliated s e rv ic e s .......................................................................
S tatistical a d ju s tm e n ts ...........................................................
O the r s e rv ic e s ...................................................................................................................................................................
United
States
154
-9 2
154
262
-9 2
- 2 372
- 1 167
-4 7 1
1,709
1 517
390
-1 ,3 2 6
A ffilia te d .........................................................................................................................................................................
D e finitional a d ju s tm e n ts.........................................................................................................................................
R e c lassification of fin ancial services to unaffiliated s e rv ic e s .......................................................................
R e classification o f selected services from unaffiliated s e rv ic e s .................................................................
S tatistical a d ju s tm e n ts ...........................................................................................................................................
-1 ,3 1 3
-1 ,3 1 3
-6 5 4
34
1,406
-6 7 2
752
-1 ,9 5 1
- 1 ,3 1 3
1 406
-6 7 2
1 40 6
U n a ffilia te d ...............................................................................................-.....................................................................
D e finitional a d ju s tm e n ts...................................................
R e classification o f transactions to or from other a cco u n ts ............................................................................
S tatistical a d ju s tm e n ts .....................................................
-1 059
-1 ,0 5 9
303
2,129
-2 1 0
2,129
-5 1 3
303
-6 5 4
-5 1 3
-5 0 5
-5 1 3
-5 0 5
303
U.S. m ilitary s a le s ........................................................................................................................................................
D efinitional a d ju stm e n ts.........................................................................................................................................
S tatistical a d ju s tm e n ts ...........................................................................................................................................
-1 5 2
-1 5 2
In c o m e ......................................................................................................................................................................................
1,023
-4 ,4 6 1
D irect investm ent...............................................................................................................................................................
D efinitional a d ju stm e n ts..............................................................................................................................................
A djustm ent o f interest incom e to a n e t b a s is ........................................................................................................
S tatistical a d ju s tm e n ts ................................................................................................................................................
-1 5 5
-1 5 5
-1 ,6 1 2
-1 ,6 1 2
O ther in ve stm e n t...............................................................................................................................................................
D efinitional a d ju s tm e n ts ..............................................................................................................................................
A djustm ent o f interest in com e to a net b a s is ........................................................................................................
S tatistical a d ju s tm e n ts ................................................................................................................................................
1,178
1,178
60
-1 ,5 5 1
-2 ,8 4 9
-2 ,8 4 9
-1 ,6 7 8
4,783
-2 ,2 0 6
-2 ,1 3 2
-1 ,7 7 8
4,882
-1 ,9 3 3
-1 ,6 1 2 -1 5 5
3 200
-1 ,7 7 8
4,882
-1 778
-7 0
4,882
100
-9 8
100
-9 8
-2 7 3
1 178
-1 551
100
-5 ,4 7 0
-2 ,8 4 9
-2 ,5 2 3
-9 8
-2 ,5 2 3
-1 ,5 5 1
-2 ,5 2 3
-1
76
138
138
-1
280
96
1,925
280
96
1,645
280
96
824
5,590
1,859
-6,133
76
1,645
941
-9,136
94
60
-7 0
-1 ,5 5 1
1,645
565
-1 059
-5 0 5
2 129
-2 ,4 5 4
139
139
-9 3 5
-9 3 5
34
-6 7 2
60
-7 0
C urrent unilateral tra n sfe rs ...................
D efinitional a d ju s tm e n ts ...................
R eclassification from u n affiliated s e rv ic e s ..................................................................................................................
A dju stm en t o f U.S. transfers to a gross b a s is ............................................................................................................
S tatistical a d ju s tm e n ts .....................................................................................................................................................
-1 5 2
-1 5 2
60
C om pensation o f em plo ye e s..........................................................................................................................................
R eclassification from unaffiliated s e rv ic e s .............................................................................................................
Total adjustments............................................................................................................................................
-6 5 4
34
-2,587
-7 6 3
-9 3 5
76
52
U .S .-C a n a d ia n C u r r en t-A c co u n t R e co n cilia tio n
N ovem ber
2008
Table 2.1. Summary of Reconciliation Adjustments, Northbound, 2007
[M illio n s o f U.S. d o lla rs ]
M ethodological
Definitional
United
S tates
-1 7 3
-1 7 3
Canada
-1 ,2 7 1
-1 ,2 7 1
United
States
S tatistical
United
States
C anada
197
Total
United
States
C anada
-4 1 4
-1 8 7
-2 ,4 0 5
-1 9 7
21
-3 9 0
-4 1 4
-3 8 6
197
-4 1 4
1,193
2,787
809
403
-2 3 4
1,119
818
301
-2 3 4
1,119
818
301
-1 2 9
334
369
-1 3 2
-2 1 4
-1 2 9
240
-1 8 7
369
-2 1 4
369
-1 ,1 8 7
-3 1 3
956
3,235
-4 1 8
755
-1 ,1 9 8
-1 ,1 9 8
-6 8 4
36
806
-3 4
122
-1 ,1 9 6
-1 ,1 9 8
806
-3 4
806
150
3,177
-3 5 3
150
3,177
-5 0 3
150
-6 8 4
36
-9 6 9
-5 0 3
-5 0 3
-3 4 9
-9 6 9
-3 4 9
-1 8 7
-1 8 7
92
-1 8 7
-1 8 7
92
1,102
-4 ,3 9 6
-1 2 7
-1 2 7
-1 ,7 1 6
-1 ,7 1 6
-2 ,1 5 8
1.229
1.229
-2 ,6 8 0
-2 ,6 8 0
1,712
3,722
656
-3 ,6 5 7
2,119
3,291
1,992
-1 2 7
2,119
3,291
2,119
1,414
-1 ,7 1 6
-1 6 1
3,291
-4 0 7
430
-4 0 7
430
-1 ,3 3 6
1,229
-2 ,1 5 8
-4 0 7
-5 ,2 2 5
-2 ,6 8 0
-2 ,9 7 5
430
-2 ,9 7 5
-2 ,1 5 8
-2 ,9 7 5
1
1
-1 6 6
154
154
280
-4 1 0
529
280
-4 1 0
249
280
-4 1 0
2,771
5,713
1,604
-6,530
-1 6 6
249
A dju stm en t o f U.S. transfers to a gross b a s is ................................................................................
Total adjustments..................................................................................................................
742
-9,115
-1,909
92
-1 6 1
-2 ,1 5 8
249
1,859
-9 6 9
-3 4 9
3,177
-2 ,9 8 3
153
153
-1 ,0 4 3
-1 ,0 4 3
36
-3 4
92
-1 6 1
O th e r in v e s tm e n t...................................................................................................................................
334
-2 1 4
-2 ,1 6 7
-6 8 4
In c o m e ...........................................................................................................................................................
-1 1 8
-2 3 8
-1 2 9
334
O th e r s e rv ic e s ........................................................................................................................................
-3 8 6
-2 3 4
-2 3 4
-1 3 2
-2 3 8
-2 3 8
-1 ,6 5 7
-1 ,2 7 1
-3 8 6
-1 7 3
197
S e r v ic e s .......................................................................................................................................................
C anada
-3,128
-1 ,6 1 9
-1 ,0 4 3
-1 6 6
November 2008
Survey of Current Business
53
Table 2.2. Summary of Reconciliation Adjustments, Southbound, 2006
[M illio n s o f U.S. d o lla rs ]
D efinitional
C anada
-1 ,9 3 3
-1 ,9 3 3
United
States
C anada
11,229
10,546
683
United
States
C anada
46
C anada
663
91
663
-5 1 2
4,533
-2 ,2 3 5
4,465
91
-1 ,2 7 0
7
39
-1 ,2 6 6
-2 2
-4 5 7
-4 6
190
112
78
270
112
78
80
80
80
-4
-91
-9 1
O th e r s e rv ic e s ........................................................................................................................................
-1 ,1 7 5
A ffilia te d ..............................................................................................................................................
-3 2 9
-3 2 9
-4
108
122
-2 9 4
21
108
192
21
-3 6 3
-3 9
108
-5 3 3
4 ,349
-2 ,3 5 7
4,493
1,117
-1 ,6 1 4
806
192
-4 0 2
192
-3 6 3
-3 9
-6 4 9
166
44
-3 1 1
-1 ,3 2 9
21
-9 1
-2 2
-3 2 9
-3 1 1
-3 1 1
44
-8 4 6
-8 4 6
-6 9 3
477
-6 9 3
477
-1 ,3 2 9
1,117
796
3,232
796
3,232
44
-1 ,3 2 9
-7 4 3
-8 4 6
-6 9 3
796
-1 ,2 8 4
-9 6
-2 ,2 2 0
-3 4 0
-3 4 0
-9 6
-9 6
-7 0
-1 ,5 5 1
-1 ,5 5 1
A dju stm en t o f in terest in com e to a net b a s is ............................................................................
S tatistical a d ju s tm e n ts ............................
-2 ,5 2 3
-1 ,5 5 1
C om pensation o f em plo y e e s.............................................................................-...............................
R eclassification from u naffiliated s e rv ic e s ................................................................................
S tatistical a d ju s tm e n ts ............................
373
373
-2 7
3,292
-1 ,6 7 4
567
5,603
471
-9 6
6,013
567
680
-5 9 4
680
-5 9 4
103
90
1,645
Total adjustments..................................................................................................................
-2 ,1 4 5
-2 ,5 2 3
680
-1 ,5 5 1
-5 9 4
-1 7 4
-4 ,1 3 4
-4 ,0 5 7
90
-1 6 7
-1 7 4
-1 6 7
1,645
-1 7 4
6,780
4,423
-4,347
15,628
1,645
-8,540
11,111
-2,587
94
567
-2 ,7 8 7
-9 4 4
-1 6 7
90
A djustm e nt of U.S. transfers to a gross b a s is ...............................................................................
-7 0
6,013
476
373
103
103
-4 ,0 5 7
-4 ,0 5 7
477
3,232
6,013
-3 4 0
-2 ,5 2 3
C urren t unilateral tra n s fe rs ...............................
3,709
6,796
-7 0
-9 4 4
-9 4 4
1,117
-2 2
-2 2
-2 2
-2 2
I n c o m e .........................................................................................................................................................
U nited
States
11,366
10,546
683
7
39
91
663
-1 ,9 3 3
Reclassification o f eq uipm ent repairs from unaffiliated s e rv ic e s .
R eclassification o f vessel repairs from oth e r transportation s e rv ic e s .....................................
S e rv ic e s ..........................................................................................................
Total
S tatistical
M ethodological
United
States
1,471
54
U .S .-C a n a d ia n
C u r r en t-A c co u n t R e co n cilia tio n
N ovem ber
2008
Table 2.2. Summary of Reconciliation Adjustments, Southbound, 2007
[M illio n s o f U .S. d o lla rs ]
M ethodological
D efinitional
C anada
U nited
States
C anada
-1 0 3
12,807
11,984
-1 0 3
823
Total
United
States
C anada
17
2,152
U nited
States
C anada
214
2,049
13,038
11,984
-1 0 3
823
2
2
15
R eclassification o f eq uipm ent repairs from unaffiliated s e rv ic e s ..............................................
R eclassification of vessel repairs from oth e r transportation s e r v ic e s .....................................
S e rv ic e s ..........................................................................................
Statistical
United
States
-1 ,2 6 7
-2 1
-4 0 1
-1 7
2,152
214
2,152
15
214
-2 3 5
5,442
-1 ,9 0 3
5,404
223
133
90
467
133
90
244
244
244
-5 0
-1 0 2
-1 0 2
O th e r s e rv ic e s ........................................................................................................................................
-1 ,1 6 5
182
-4 5 0
164
182
-4 3 5
-1 5
-5 8 3
210
13
-3 4 4
-1 ,4 4 2
-5 0
195
244
-2 5 5
164
195
182
164
-4 3 5
-1 5
195
-3 9 9
5,054
-2 ,1 4 7
5,243
1,231
-1 ,7 7 4
-3 4 5
-1 0 2
-2 1
-3 4 5
-3 4 5
887
-3 4 4
-3 4 4
13
-8 2 0
-8 2 0
-5 9 6
554
-5 9 6
554
-1 ,4 4 2
1,231
13
-1 ,4 4 2
1,231
1,033
3 ,823
-3 8 3
4,377
3 ,823
-5 9 6
1,033
554
3,823
-8 2 0
1,033
-2 1
-2 1
10
10
-2 1
10
In com e ...........................................................................................................................................................
-1 ,6 0 7
-7
-2 ,7 2 2
-2 3 1
-2 3 1
-7
-7
-1 6 1
-2 ,1 5 8
10
5,428
-1 4 1
1,099
-2 ,3 0 6
4,460
733
4,068
-2 3 1
-1 6 1
4,460
726
-7
-3 ,5 0 0
-1 ,3 7 6
-2 ,9 7 5
851
-3 ,0 3 2
-1 6 1
-1 ,3 7 6
-1 ,3 7 6
A dju stm en t o f interest incom e to a net b a s is ............................................................................
-2 ,9 7 5
-2 ,1 5 8
-2 ,9 7 5
-2 ,1 5 8
414
414
4,460
733
851
-8 7 4
851
-8 7 4
117
-5
249
Total adjustments..................................................................................................................
-2 5 6
-3 ,6 7 2
-4 ,0 4 9
-5
382
-2 5 6
382
249
-2 5 6
7,727
5,259
-2,427
16,129
249
-7,026
12,779
-3,128
-1,909
-2 ,1 5 8
-8 7 4
382
-5
A d ju stm en t o f U.S. transfers to a g ross b a s is .................................................................................
733
531
414
117
117
-4 ,0 4 9
-4 ,0 4 9
-2 1
-7
N ovem ber
Survey of Current Business
2008
55
Table 3.1. U.S.-Canadian Current-Account Reconciliation, Northbound
[Millions of U.S. dollars]
C o m m o n -b a s is estim ates after
definitional and m ethodological
adjustm ents
Published estim ates
C anadian
paym ents
U.S.
receipts
Difference
U.S.
receipts
C anadian
paym ents
R econciled estim ates,
including statistical
adjustm ents
D ifference
U.S.
receipts
C anadian
paym ents
Total ad ju stm en ts to
published estim ates
United
S tates
C anada
2006
G oods and s e rv ic e s ...........................................................................................
268,546
273,924
-5 ,3 7 8
268,464
269,975
-1,511
270,686
270,686
2,140
G oods, balan ce-o f-pa ym ents b a s is ...........................................................
230,983
233,687
-2 ,7 0 4
231,278
232,454
-1 ,1 7 6
231,790
231,790
807
-1 ,8 9 7
S e rv ic e s ............................................................................................................
Travel.............................................................................................................
Passenger fa re s .
O ther tra n s p o rta tio n .................................................................................
O ther services...
37,563
10,360
2,979
3,140
2 1,084
40,237
11,470
2,826
3,141
22,800
-2 ,6 7 4
-1 ,1 1 0
153
-1
-1 ,7 1 6
37,186
11,420
2 ,979
3,022
19,765
37,521
11,470
2,826
3,268
19,957
-3 3 5
-5 0
153
-2 4 6
-1 9 2
38,896
11,420
2,826
3,176
21,474
38,896
11,420
2,826
3,176
21,474
1,333
1,060
-1 5 3
36
390
-1 ,3 4 1
-5 0
Investm ent in c o m e ........................................................................................
Direct in v e s tm e n t......................................................................................
O ther in v e stm e n t.......................................................................................
C om pensation o f e m p lo ye e s.......................................................................
43,111
4 2,973
23,226
19,747
138
43.037
43.037
18,093
24,944
42,583
42,445
23,071
19,374
138
36,122
35,983
16,411
19,572
139
6.461
6.462
6,660
-1 9 8
-1
40,905
40,767
21,293
19,474
138
40,905
40,767
21,293
19,474
138
-2 ,2 0 6
-2 ,2 0 6
-1 ,9 3 3
-2 7 3
(')
74
-6 4
5,133
-5 ,1 9 7
138
-2 ,1 3 2
-2 ,2 7 0
3,200
-5 ,4 7 0
138
C urrent unilateral tra n s fe rs ...............................................................................
(2)
2,688
-2 ,6 8 8
1,645
1,829
-1 8 4
1,925
1,925
1,925
-7 6 3
Current account, northbound............................................................
311,657
319,649
-7,992
312,692
307,926
4,766
313,516
313,516
1,859
-6,133
G oods and s e rv ic e s ...........................................................................................
292,984
294,657
-1 ,6 7 3
292,624
2 91,002
1,622
293,403
293,403
419
-1 ,2 5 4
G oods, balance-of-paym ents b a s is ...........................................................
249,712
250,979
-1 ,2 6 7
249,736
249,708
28
249,322
249,322
-3 9 0
-1 ,6 5 7
S e rv ic e s ...........................................................................................................
Travel.............................................................................................................
P assenger fa re s .........................................................................................
O ther tra n s p o rta tio n ..................................................................................
O ther s e rv ic e s ............................................................................................
43,272
12,852
3,318
3,423
23,679
43,678
14,205
3,186
3,781
22,506
-4 0 6
-1 ,3 5 3
132
-3 5 8
1,173
42,888
13,971
3,318
3,294
22,305
4 1,294
14,205
3,186
3,877
20,026
1,594
-2 3 4
132
-5 8 3
2,279
44,081
13,971
3,186
3,663
23,261
44,081
13,971
3,186
3,663
23,261
809
1,119
-1 3 2
240
-4 1 8
403
-2 3 4
In c o m e ...................................................................................................................
Investm ent incom e
Direct in v e s tm e n t......................................................................................
O ther investm ent
C om pensation o f e m p lo ye e s.......................................................................
45,461
4 5,307
21,685
2 3,622
154
49.774
49.774
22,263
27,511
44,405
44,251
21,558
22,693
154
4 2,395
42,242
2 0,386
2 1,856
153
2,010
2,009
1,172
837
1
46,117
45,963
23,677
22,286
154
4 6,117
656
656
1,992
-1 ,3 3 6
O
-4 ,3 1 3
-4 ,4 6 7
-5 7 8
-3 ,8 8 9
154
C urrent unilateral tra n s fe rs ...............................................................................
(2)
2,148
-2 ,1 4 8
249
939
-6 9 0
529
529
529
-1 ,6 1 9
Current account, northbound............................................................
338,445
346,579
-8,134
337,278
334,336
2,942
340,049
340,049
1,604
-6,530
-3 ,2 3 8
35
-1 ,3 2 6
2007
1. In the Canadian published accounts, compensation of employees is included in “other'’ services.
2. Current unilateral transfers are published on a net basis in the U.S. accounts and appear as net payments in table 3.2.
4 5,963
23,677
2 2,286
154
-1 1 8
755
-3 ,6 5 7
-3 ,8 1 1
1,414
-5 ,2 2 5
154
U.S.-Canadian Current-Account Reconciliation
56
N ovem ber
2008
Table 3.2. U.S.-Canadian Current-Account Reconciliation, Southbound
[M illio n s o f U.S. d o lla rs ]
C o m m o n -b a s is estim ates after
definitional and m ethodological
adjustm ents
P ublished estim ates
C anadian
receipts
U.S.
paym ents
D ifference
C anadian
receipts
U.S.
paym ents
R econciled estim ates,
including statistical
adjustm ents
Difference
C anadian
receipts
U.S.
paym ents
Total adju stm e n ts to
published estim ates
Canada
U nited
S tates
2006
G oods and s e r v ic e s ...........................................................................................
349,628
330,292
19,336
345,972
341,499
4,473
346,123
346,123
-3 ,5 0 5
15,831
G oods, b ala nce-of-paym ents b a s is ...........................................................
318,702
306,066
12,636
3 16,769
317,341
-5 7 2
317,432
317,432
-1 ,2 7 0
11,366
S e rv ic e s ............................................................................................................
Travel.............................................................................................................
24,226
7,394
371
4,725
11,736
6,700
270
-4 1 6
6,850
29,203
7,664
367
4,410
16,762
24,158
7,584
371
4,323
11,880
5,045
80
-4
87
4,882
28,691
7,664
367
4,431
16,229
28,691
7,664
367
4,431
16,229
-2 ,2 3 5
O ther tra n s p o rta tio n .................................................................................
O th e r s e rv ic e s ............................................................................................
30,926
7,664
367
4,309
18,586
4,465
270
-4
-2 9 4
4,493
In co m e ....................................................................................................................
Investm ent in c o m e .........................................................................................
D irect investm ent.......................................................................................
O th e r in v e stm e n t........................................................................................
O ther private in v e s tm e n t.....................................................................
U.S. G overnm ent lia b ilitie s .................................................................
Com pensation o f e m p lo ye e s.......
22,677
22,677
10,079
12,598
11,088
1,510
(')
27,643
27,167
15,211
11,956
10,674
1,282
476
-4 ,9 6 6
-4 ,4 9 0
-5 ,1 3 2
642
414
228
-4 7 6
19,173
18,800
9,669
9,131
7,577
1,554
373
25,996
25,520
15,115
10,405
9,123
1,282
476
-6 ,8 2 3
-6 ,7 2 0
-5 ,4 4 6
-1 ,2 7 4
-1 ,5 4 6
272
-1 0 3
25,969
25,493
15,682
9,811
8,409
1,402
476
25,969
2 5,493
15,682
9,811
8,409
1,402
476
3,292
2,816
5,603
-2 ,7 8 7
-2 ,6 7 9
-1 0 8
476
-1 ,6 7 4
-1 ,6 7 4
471
-2 ,1 4 5
-2 ,2 6 5
120
C u rre n t unilateral tra n s fe rs ...............................................................................
5,294
-3 1 1
5,605
1,327
1,334
-7
1,160
1,160
-4 ,1 3 4
1,471
Current account, southbound............................................................
377,599
357,624
19,975
366,472
368,829
-2,357
373,252
373,252
-4,347
15,628
-4
122
-2 ,3 5 7
2007
G oods and s e r v ic e s ...........................................................................................
363,772
345,476
18,296
362,001
3 58,262
3,739
363,918
363,918
146
18,442
G oods, balan ce-o f-pa ym ents b a s is ...........................................................
331,312
320,323
10,989
331,209
333,147
-1 ,9 3 8
333,361
333,361
2,049
13,038
S e rv ic e s ...........................................................................................................
Travel.................
P assenger fares
O ther tra n s p o rta tio n .................................................................................
O ther s e rv ic e s ............................................................................................
32,460
7,715
349
4,417
19,979
25,153
7,248
399
4,916
12,589
7,307
467
-5 0
-4 9 9
7,390
30,792
7,715
349
4,497
18,231
25,115
7,471
399
4,466
12,778
5,677
244
-5 0
31
5,453
30,557
7,715
349
4,661
17,832
30,557
7,715
349
4,661
17,832
-1 ,9 0 3
5,404
467
-5 0
-2 5 5
5,243
In co m e ....................................................................................................................
Investm ent in c o m e .........................................................................................
D irect investm ent.........
O the r in v e s tm e n t.........
O th e r private in v e s tm e n t.....................................................................
U.S. G overn m en t lia b ilitie s .................................................................
25,136
25,136
10,164
14,972
13,089
1,883
28,541
28,010
13,506
14,504
13,216
1,288
531
-3 ,4 0 5
-2 ,8 7 4
-3 ,3 4 2
20,807
20,393
9,772
10,621
8,749
1,872
414
26,376
25,845
13,499
12,346
11,058
1,288
531
-5 ,5 6 9
-5 ,4 5 2
-3 ,7 2 7
-1 ,7 2 5
-2 ,3 0 9
584
-1 1 7
26,235
25,704
14,232
11,472
9,909
1,563
531
2 6,235
25,704
14,232
11,472
9,909
1,563
531
1,099
568
4,068
-3 ,5 0 0
-3 ,1 8 0
-3 2 0
531
C urren t un ilateral tra n s fe rs ...............................................................................
5,398
1,733
3,665
1,344
1,982
-6 3 8
1,726
1,726
-3 ,6 7 2
-7
Current account, southbound............................................................
394,306
375,750
18,556
384,152
386,620
-2,468
391,879
391,879
-2,427
16,129
(')
1. In the Canadian published accounts, compensation of employees is included in “other” services.
468
-1 2 7
595
-5 3 1
244
-2 ,1 4 7
-2 ,3 0 6
-2 ,3 0 6
726
-3 ,0 3 2
-3 ,3 0 7
275
November 2008
57
Survey of Current Business
Table 4.1. Trade in Goods, Northbound
[Millions of U.S. dollars]
Canadian
paym ents
U.S.
receipts
2006
230,983
233,687
70
225
-1 ,2 3 3
C om m on basis after definitional and m ethodological a d ju stm e n ts............................................................................................................
231,278
232,454
S tatistical a d ju stm e n ts............................................................................................................................................................................................
512
-6 6 4
Reconciled, including statistical adjustments.....................................................................................................................................
231,790
231,790
249,712
250,979
-1 7 3
197
-1,271
C om m on basis a fter definitional and m ethodological a d ju stm e n ts............................................................................................................
249,736
249,708
S tatistical a d ju stm e n ts............................................................................................................................................................................................
-4 1 4
-3 8 6
Reconciled, including statistical adjustments.....................................................................................................................................
249,322
249,322
Balance-of-payments basis, published.................................................................................................................................................
D efinitional and m ethodological adjustm ents:
D efinitional a d ju s tm e n ts ...................................................................................................................................................................................
2007
Balance-of-payments basis, published.................................................................................................................................................
D efinitional and m ethodological adjustm ents:
D efinitional a d ju s tm e n ts ....................................................................................................................................................................................
Table 4.2. Trade in Goods, Southbound
[Millions of U.S. dollars]
C anadian
receipts
U.S.
paym ents
2006
Balance-of-payments basis, published.................................................................................................................................................
318,702
306,066
D efinitional and m ethodological adjustm ents:
10,546
683
7
39
O ther definitional a d ju s tm e n ts .........................................................................................................................................................................
-1 ,9 3 3
C om m on basis a fter definitional and m ethodological a d ju stm e n ts............................................................................................................
316,769
S tatistical a d ju s tm e n ts ............................................................................................................................................................................................
663
91
Reconciled, including statistical adjustments.....................................................................................................................................
317,432
317,432
331,312
320,323
317,341
2007
Balance-of-payments basis, published.................................................................................................................................................
D efinitional and m ethodological adjustm ents:
11,984
823
2
15
O ther definitional a d ju s tm e n ts......................................................
R eclassification o f equipm ent repairs from unaffiliated s e rv ic e s ...........................................................................................................
R eclassification of vessel repairs from oth e r transportation s e rv ic e s ...................................................................................................
-1 0 3
C om m on basis a fter definitional and m ethodological a d ju stm e n ts............................................................................................................
331,209
Statistical a d ju stm e n ts............................................................................................................................................................................................
2,152
214
Reconciled, including statistical adjustments.....................................................................................................................................
333,361
333,361
333,147
58
U .S .-C a n a d ia n C u r r en t-A c co u n t R e co n cilia tio n
N ovem ber
2008
Table 5.1. Travel, Passenger Fares, and Other Transportation, Northbound
[M illio n s o f U .S. d o lla rs ]
C o m m o n -b a s is e stim ates after
definitional and m ethodological
adjustm ents
Published estim ates
U.S.
receipts
C anadian
paym ents
Difference
C anadian
paym ents
U.S.
receipts
R econciled estim ates,
including statistical
adjustm ents
Difference
U.S.
receipts
C anadian
paym ents
Total adjustm ents to published e stim ates
United
S tates
C anada
Type o f adjustm e nt
2006
Travel.........................................................................
10,360
11,470
-1,110
11,420
11,470
-50
11,420
11,420
1,060
10,360
10,429
758
283
-6 9
-7 5 8
-2 8 3
10,360
777
283
10,429
758
283
-6 9
19
10,360
777
283
10,360
777
283
777
283
2,826
153
2,979
2,826
153
2,826
2,826
-153
-5 0
-6 9
19
Passenger fares.......................................................
2,979
Other transportation..............................................
3,140
3,141
-1
3,022
3,268
-246
3,176
3,176
36
35
F re ig h t.........................................................................
O c e a n ......................................................................
A ir .........
..................................
2,264
97
2,533
477
2,398
342
33
1,619
404
2,299
238
33
1,619
409
2,299
238
35
141
-2 3 4
-2 3 9
33
1,619
404
2,142
93
33
1,619
397
-2 5 6
-2 4 9
151
1,619
397
-2 6 9
-3 8 0
118
33
1,619
409
-1 1 8
12
5
876
125
462
289
558
74
462
22
318
51
820
74
462
284
56
51
827
74
462
291
269
5
827
74
462
291
-4 9
-5 1
267
876
125
462
289
2
269
50
-5 0
4
50
-4 6
50
50
50
12,852
14,205
-1,353
13,971
14,205
-234
13,971
13,971
1,119
12,852
13,109
795
301
-2 5 7
-7 9 5
-3 0 1
12,852
818
301
13,109
795
301
-2 5 7
23
12,852
818
301
12,852
818
301
818
301
O th e r .......................................................................
P ort s e rv ic e s ...............................................................
O th e r .......................................................................
O th e r ............................................................................
-7
-7
Statistical
M ethodological and statistical
M ethodological
Statistical
Definitional, m ethodological, and statistical
M ethodological
Statistical
Statistical
M ethodological and statistical
M ethodological and s tatistical
2007
Travel.........................................................................
-234
-2 5 7
23
Passenger fares.......................................................
3,318
3,186
132
3,318
3,186
132
3,186
3,186
-132
Other transportation..............................................
3,423
3,781
-358
3,294
3,877
-583
3,663
3,663
240
-118
F re ig h t.........................................................................
O c e a n ......................................................................
A ir .............................................................................
2,432
182
165
1,642
443
2,969
850
36
1,639
444
-5 3 7
2,287
166
36
1,642
443
2,731
612
36
1,639
444
-4 4 4
-6 6 8
129
3
-1
2,656
529
35
1,642
450
224
347
-1 3 0
-3 1 3
-3 2 1
-1
3
-1
2,656
529
35
1,642
450
7
3
6
991
139
491
361
711
148
495
68
280
-9
-4
293
991
139
491
361
1,045
148
495
402
-5 4
-9
-4
-4 1
943
89
491
363
943
89
491
363
-4 8
-5 0
101
-1 0 1
16
101
-8 5
64
64
O th e r.......................................................................
Port s e rv ic e s ...............................................................
Vessel o p e ra to rs ...................................................
O th e r .......................................................................
O th e r ............................................................................
-4 4 6
S tatistical
M ethodological and statistical
M ethodological
Statistical
D efinitional, m ethodological, and statistical
M ethodological
S tatistical
Statistical
2
232
-5 9
-4
295
Statistical
Statistical
M ethodological and statistical
64
-3 7
M ethodological and statistical
N ovem ber
Survey of Current Business
2008
59
Table 5.2. Travel, Passenger Fares, and Other Transportation, Southbound
[Millionsof U.S.dollars]
C o m m o n -b a sis estim ates after
definitional and m ethodological
adjustm ents
Published estim ates
C anadian
receipts
U.S.
paym ents
D ifference
C anadian
receipts
U.S.
paym ents
R econciled estim ates,
including statistical
adjustm ents
Difference
C anadian
receipts
U.S.
paym ents
Total adjustm ents to published estim ates
United
States
C anada
Type o f adju stm en t
2006
Travel.........................................................................
7,664
7.394
270
7,664
7,584
80
7,664
7,664
270
B usiness and p e rs o n a l............................................
E d u c a tio n ....................................................................
M e d ic a l........................................................................
7,368
220
76
7.394
-2 6
2 20
76
7,368
220
76
7,394
112
78
-2 6
108
-2
7,368
220
76
7 368
220
76
-2 6
220
76
Passenger fares.......................................................
367
371
-4
367
371
-4
367
367
-4
Other transportation..............................................
4,309
4,725
-416
4,410
4,323
87
4,431
4,431
122
-294
F re ig h t.........................................................................
O c e a n ......................................................................
A ir .............................................................................
3,627
499
-1 7 6
-1 5 3
3,510
401
23
2,833
253
M ethodological and statistical
-2 2
3,510
401
23
2,833
253
-1 1 7
-9 8
-1
3,429
460
23
2,833
113
59
55
23
2,833
272
3,451
346
23
2,832
250
22
-1 1 4
O th e r .......................................................................
3,451
346
23
2,832
250
3
-1 9
M ethodological and statistical
P ort s e rv ic e s ...............................................................
Vessel o p e ra to rs ...................................................
A irline o p e ra to rs ...................................................
O th e r .......................................................................
712
80
547
85
1,098
102
910
86
-3 8 6
-2 2
-3 6 3
-1
909
85
547
277
855
63
547
245
54
22
882
74
547
261
170
-6
32
882
74
547
261
176
-2 1 6
-2 8
-3 6 3
175
D efinitional, m ethodological, and statistical
M ethodological
M ethodological and statistical
O th e r ............................................................................
146
146
50
39
11
39
39
-1 0 7
39
D efinitional, m ethodological, and statistical
-i
137
M ethodological and statistical
M ethodological and statistical
Statistical
1
2007
Travel.........................................................................
7,715
7.248
467
7,715
7,471
244
7,715
7,715
467
7.248
M e d ic a l........................................................................
7,378
256
81
130
256
81
7 378
256
81
7,248
133
90
130
123
-9
7,378
256
81
7,378
256
81
130
256
81
M ethodological and statistical
M ethodological and statistical
-5 0
S tatistical
Passenger fares.......................................................
349
399
-5 0
349
399
-5 0
349
349
Other transportation..............................................
4,417
4,916
-499
4,497
4,466
31
4,661
4,661
244
-255
F re ig h t.........................................................................
O c e a n ......................................................................
A ir .............................................................................
3,765
534
5
2 ,924
302
-2 1 0
-1 3 1
3,510
457
5
2,924
124
3 578
416
5
2 924
233
3 578
416
5
2 924
233
23
13
-1 8 7
-1 1 8
M ethodological and statistical
-6
-7 3
3,555
403
5
2,918
229
45
-5 4
O th e r .......................................................................
3,555
403
5
2,918
229
-6 9
M ethodological and statistical
Port s e rv ic e s ...............................................................
Vessel o p e ra to rs ...................................................
A irline o p e ra to rs ...................................................
O th e r .......................................................................
697
92
517
88
1,150
108
952
90
-4 5 3
-1 6
-4 3 5
-2
884
97
517
270
878
93
517
268
6
4
1,006
85
652
269
309
-7
2
1,006
85
652
269
165
58
77
-1 9
77
77
165
-6
105
6
4
135
181
-1 4 4
-2 3
-3 0 0
179
D efinitional, m ethodological, and statistical
M ethodological and statistical
M ethodological and statistical
-8 8
77
D efinitional, m ethodological, and statistical
60
U .S .-C a n a d ia n
C u r r en t-A c co u n t R e co n cilia tio n
N ovem ber
2008
Table 6.1. Other Services, Northbound
[M illio n s o f U.S. d o lla rs ]
C o m m o n -b a s is estim ates after
definitional and m ethodological
adjustm ents
Published estim ates
U.S.
receipts
C anadian
paym ents
Difference
U.S.
receipts
C anadian
paym ents
R econciled estim ates,
including statistical
adjustm ents
D ifference
U.S.
receipts
C anadian
paym ents
Total adjustm ents to published e stim ates
United
States
Canada
Type o f adjustm e nt
2006
Total.........................................................................
21,084
22,800
-1,716
19,765
19,957
-192
21,474
21,474
390
-1,326
A ffilia te d ..............................................................................
8,732
11,435
-2 ,7 0 3
8,078
10,156
-2 ,0 7 8
9,484
9,484
752
-1,951
Royalties and license fe e s ........................................
O ther s e rv ic e s .............................................................
4 ,536
4 ,196
4,279
257
578
-2 ,6 5 6
(')
(')
-2 ,9 6 0
3,958
6,198
(’ )
7,156
4,536
3,542
(’ )
(')
(')
(’ )
U n a ffilia te d ........................................................................
12,140
11,365
775
11,627
9,801
1,826
11,930
11,930
-2 1 0
565
Royalties, license fees, and selected s e rv ic e s ....
2,441
2 ,008
2 ,222
830
639
977
1,929
807
2,608
999
2,071
75
652
862
2,084
1,330
310
-1 6 7
1,009
151
755
-1 3
115
-1 5 5
-5 2 3
-3 1 0
2,411
2,008
2,876
53
639
977
1,539
837
2,487
890
1,905
81
594
868
1,738
958
-7 6
1,118
971
-2 8
45
109
-1 9 9
-1 2 1
2,411
2,008
2,879
53
639
977
1,765
898
2,411
2,008
2,879
53
639
977
1,765
898
-3 0
-1 6 4
91
-1 9 7
1,009
808
-2 2
-1 3
115
-3 1 9
-4 3 2
-3 1 0
123
164
103
271
20
-1 0 7
123
164
103
177
20
-1 3
123
177
123
177
13
20
-9 4
212
60
60
60
60
-1 5 2
60
Fin ancial services.
Education and tra in in g ...............................................
C om puter services
Business services.
S ports and e n te rta in m e n t.........................................
657
-1 1 1
D efinitional, m ethodological, and statistical
(’ )
D efinitional, m ethodological, and
D efinitional, m ethodological, and
D efinitional, m ethodological, and
M ethodological and statistical
M ethodological and statistical
M ethodological and statistical
M ethodological and statistical
D efinitional, m ethodological, and
D efinitional and m ethodological
statistical
statistical
statistical
statistical
G overnm ent:
C a n a d a ......................................................................
212
Statistical
D efinitional, m ethodological, and statistical
D efinitional and statistical
2007
Total.........................................................................
23,679
22,506
1,173
22,305
20,026
2,279
23,261
23,261
-418
755
A ffilia te d ..............................................................................
9,346
10,664
-1 ,3 1 8
8,662
9,502
-8 4 0
9,468
9,468
122
-1 ,1 9 6
Royalties and license fe e s ........................................
O ther s e rv ic e s ..............................................................
4,618
4 ,728
4,082
6,582
536
-1 ,8 5 4
4,618
4,044
3,932
5,570
686
-1 ,5 2 6
(1)
(')
0
(1)
(')
(’ )
(')
U n a ffilia te d ........................................................................
14,054
11,842
2,212
13,551
10,524
3,027
13,701
13,701
-3 5 3
1,859
Royalties, license fees, and selected s e rv ic e s ....
3,303
1,956
3,089
862
613
966
2,057
941
3,216
794
2,274
56
524
996
1,823
1,380
395
87
1,162
815
806
89
-3 0
234
3,279
1,956
3,773
44
613
966
1,688
965
3,122
924
2,175
61
463
1,003
1,472
1,019
157
1,032
1,598
-1 7
150
-3 7
216
-5 4
3,279
1,956
3,806
44
613
966
1,733
993
3,279
1,956
3,806
44
613
966
1,733
993
-2 4
-3 2 4
52
63
1,162
1,532
-1 2
89
-3 0
-9 0
-3 8 7
-3 9 5
104
163
78
306
26
-1 4 3
104
163
78
207
26
-4 4
104
207
104
207
44
26
-9 9
279
92
92
92
92
-1 8 7
92
F inancial services.
E ducation and tra in in g ...............................................
B usiness s e rv ic e s ........................................................
S ports and e n te rta in m e n t.........................................
-4 3 9
-3 9 5
717
-8 1 8
D efinitional, m ethodological, and statistical
(')
D efinitional, m ethodological, and
D efinitional, m ethodological, and
D efinitional, m ethodological, and
M ethodological and statistical
M ethodological and statistical
M ethodological and statistical
M ethodological and statistical
Definitional, m ethodological, and
D efinitional and m ethodological
statistical
statistical
statistical
statistical
G overnm ent:
C a n a d a ......................................................................
279
1. Royalties and license fees are combined with “other” services for reconciliation.
Statistical
D efinitional, m eth odological, and statistical
D efinitional and statistical
November 2008
Survey of Current Business
61
Table 6.2. Other Services, Southbound
[M illio n s o f U.S. d o lla rs ]
C anadian
receipts
U.S.
paym ents
R econciled estim ates,
including statistical
adjustm ents
C o m m o n -b a s is estim ates after
definitional and m ethodological
adjustm ents
P ublished estim ates
Difference
C anadian
receipts
U.S.
paym ents
Difference
C anadian
receipts
U.S.
paym ents
Total adjustm ents to published estim ates
C anada
United
States
Type of adjustm ent
2006
Total.......................................................................
18,586
11,736
6,850
16,762
11,880
4,882
16,229
16,229
-2,357
4,493
A ffilia te d ..........................................................................
7,483
5,063
2,420
7,198
4,752
2,446
5,869
5,869
-1 ,6 1 4
806
R oyalties and license fe e s .....................................
O ther s e rv ic e s ..........................................................
610
6,873
542
4,521
68
2,352
610
6,588
542
4,210
68
2,378
(’ )
(’)
(1)
(’ )
0
(1)
U n a ffilia te d ......................................................................
10,885
6,433
4,452
9,346
6,910
2,436
10,142
10,142
-7 4 3
3,709
R oyalties, license fees and selected services...
In s u ra n c e ...................................................................
F inancial services
Education and tra in in g ............................................
C o m m u n ic a tio n s ......................................................
C om p u te r s e rv ic e s ...................................................
Business services
S p o rts and e n te rta in m e n t......................................
O th e r p riv a te ........
G o vernm ent:
C a n a d a ..................................................................
United S tates (n o n d e fe n s e ).............................
3,553
238
898
865
407
150
399
1,672
1,553
151
2,655
-6 2 7
524
-8 2
403
402
8
859
272
3,123
137
931
9
565
2,074
1,428
703
894
865
718
38
399
1,672
1,831
155
2,229
-7 2 8
213
-2 9
166
402
-4 0 3
548
3,245
865
950
38
482
1,872
1,885
429
3,245
865
950
38
482
1,872
1,885
429
-3 0 8
627
19
-3 0
-3 2 0
-2 0 2
324
-5 8 1
-2 7 2
2,347
38
38
338
38
38
338
38
338
38
338
-2 2
218
218
218
218
-2 2
U.S. defense e x p e n d itu re s.........................................
931
68
802
2,074
1,561
1,010
272
38
338
338
218
240
0
(’ >
543
-1 1 2
83
200
332
278
D efinitional, m ethodological, and statistical
D efinitional, m ethodological, and
D efinitional, m ethodological, and
M ethodological and statistical
M ethodological and statistical
M ethodological and statistical
S tatistical
Definitional, m ethodological, and
Definitional, m ethodological, and
D efinitional and m ethodological
statistical
statistical
statistical
statistical
S tatistical
D efinitional
2007
Total.......................................................................
19,979
12,589
7,390
18,231
12,778
5,453
17,832
17,832
-2,147
5,243
A ffilia te d ..........................................................................
7,947
5,286
2,661
7,615
4,942
2,673
6,173
6,173
-1 ,7 7 4
887
R oyalties and license fe e s .....................................
O ther s e rv ic e s ..........................................................
747
7,200
575
4,711
172
2,489
747
6,868
575
4,367
172
2,501
(')
(1)
( ')
0
(')
U naffilia te d ......................................................................
11,841
7,081
4,760
10,425
7,635
2,790
11,458
11,458
-3 8 3
4,377
Royalties, license fees and selected services...
In s u ra n c e ...................................................................
Financial services
Education and tra in in g ............................................
C o m m u n ic a tio n s ......................................................
C om puter s e rv ic e s ...................................................
B usiness services
S p o rts and e n te rta in m e n t......................................
O th e r p riv a te ........
G o vernm ent:
C a n a d a ..................................................................
United S tates (n o n d e fe n s e ).............................
4,047
1,044
1,000
523
166
465
1,822
1,602
107
3,003
-9 0 1
559
-9 2
349
723
-1 0 0
910
266
3,641
121
1,082
9
564
2,545
1,341
727
1,040
1,000
867
33
465
1,822
1,945
111
2,601
-8 7 9
215
-2 4
99
723
-6 0 4
616
3,797
1,000
1,207
33
515
2,327
1,765
419
3,797
1,000
1,207
33
515
2,327
1,765
419
-2 5 0
901
125
-4 1
-2 9 9
-2 1 8
263
-5 9 8
-2 6 6
2,753
43
352
43
43
352
43
352
352
43
352
43
352
U.S. defense e x p e n d itu re s .........................................
191
222
191
201
-1 0
201
201
99
1,082
74
814
2,545
1,502
1,017
266
1. Royalties and license fees are combined with “other” services for reconciliation.
-3 1
(')
0
0
684
-1 3 3
50
505
163
312
43
10
D efinitional, m ethodological, and statistical
-2 1
D efinitional, m ethodological, and
Definitional, m ethodological, and
M ethodological and statistical
M ethodological and statistical
M ethodological and statistical
S tatistical
D efinitional, m ethodological, and
Definitional, m ethodological, and
D efinitional and m ethodological
Statistical
D efinitional and statistical
statistical
statistical
statistical
statistical
62
November 2008
U .S .-C a n a d ia n C u r r en t-A c co u n t R eco n cilia tio n
Table 7.1. Investment Income, Northbound
[M illio n s o f U.S. d o lla rs ]
C o m m o n -b a s is estim ates after
definitional and m ethodological
adjustm ents
Published estim ates
U.S.
receipts
C anadian
paym ents
Difference
U.S.
receipts
Canadian
paym ents
Difference
R econciled estim ates,
including statistical
adjustm ents
U.S.
receipts
C anadian
paym ents
Total adjustm ents to published estim ates
United
States
C anada
Type o f adju stm e n t
2006
In v e s tm e n t I n c o m e .....................................................
42,973
43,037
-6 4
42,445
35,983
6,462
40,767
40,767
-2 ,2 0 6
-2 ,2 7 0
D ire c t in v e s tm e n t in c o m e ...................................
E arnings of inco rpo rated a ffilia te s ...................
D ivid en ds ...........................................................
R einvested e a rn in g s .......................................
E arnings of unincorporated a ffilia te s ..............
In te re s t...................................................................
2 3,226
2 2,000
7,621
14,379
421
805
18,093
15,427
9,603
5,824
1,235
1,431
5,133
6,573
-1 ,9 8 2
8,555
-8 1 4
-6 2 6
23,071
21,897
7,518
14,379
421
753
16,411
14,558
8,734
5 ,824
1,210
643
6,660
21,293
7,339
-1 ,2 1 6
8,555
-7 8 9
110
21,293
19,778
8,858
10,920
817
698
19,778
8,858
10,920
817
698
-1 ,9 3 3
-2 ,2 2 2
1,237
-3 ,4 5 9
396
-1 0 7
3,200
4,351
-7 4 5
5,096
-4 1 8
-7 3 3
O th e r in v e s tm e n t in c o m e ....................................
S ecu ritie s................................................................
D ividends...........................................................
In te re s t...............................................................
U.S. claim s/C anadian lia b ilitie s ........................
U.S. bank c la im s ..............................................
O ther private U.S. c la im s ...............................
19,747
13,280
5,392
7,888
6,467
3,859
2,608
2 4,944
17,102
5,798
11,304
7,842
4,134
3,708
-5 ,1 9 7
-3 ,8 2 2
-4 0 6
-3 ,4 1 6
-1 ,3 7 5
-2 7 5
-1 ,1 0 0
19,374
14,458
5,392
9,066
4,916
1,839
3,077
19,572
16,372
5,068
11,304
3,200
1,493
1,707
-1 9 8
-1 ,9 1 4
324
-2 ,2 3 8
1,716
346
1,370
19,474
15,415
5,230
10,185
4,059
1,666
2,393
19,474
15,415
5,230
10,185
4,059
1,666
2,393
-2 7 3
2,135
-1 6 2
2,297
-2 ,4 0 8
-2 ,1 9 3
-2 1 5
-5 ,4 7 0
-1 ,6 8 7
-5 6 8
-1 ,1 1 9
- 3 ,7 8 3
-2 ,4 6 8
-1 ,3 1 5
In v e s tm e n t In c o m e .....................................................
45,307
49,774
-4 ,4 6 7
44,251
42,242
2,009
45,963
45,963
656
-3 ,8 1 1
D ire c t in v e s tm e n t in c o m e ....................................
E arnings of in corporated a ffilia te s ...................
D ivid e n d s ...........................................................
Rein vested e a rn in g s .......................................
E arnings of unincorporated a ffilia te s ..............
In te re s t...................................................................
21,685
2 0,176
8,164
12,012
549
960
22,263
19,446
10,335
9,111
1,303
1,514
-5 7 8
730
-2 ,1 7 1
2,901
-7 5 4
-5 5 4
21,558
20,108
8,096
12,012
549
901
20,386
18,662
9,400
9,262
1,135
589
1,172
1,446
-1 ,3 0 4
2,750
-5 8 6
312
23,677
22,090
9,384
12,706
842
745
23,677
22,090
9,384
12,706
842
745
1,992
1,914
1,220
694
293
-2 1 5
1,414
2,644
-9 5 1
3,595
-4 6 1
-7 6 9
O th e r in v e s tm e n t in c o m e ....................................
S ecu ritie s................................................................
D ividends...........................................................
In te re s t...............................................................
U.S. claim s/C anadian lia b ilitie s ........................
U.S. bank c la im s ..............................................
O ther private U.S. c la im s ...............................
23,622
15,590
7,361
8,229
8,032
5,403
2,629
27,511
18,808
6,867
11,941
8,703
4,937
3,766
-3 ,8 8 9
-3 ,2 1 8
494
-3 ,7 1 2
-6 7 1
466
-1 ,1 3 7
22,693
16,819
21,856
17,943
6,002
11,941
3,913
1,960
1,953
837
-1 ,1 2 4
1,359
-2 ,4 8 3
1,961
740
1,221
22,286
17,284
6,584
10,700
5,002
2,438
2,564
22,286
17,284
6,584
10,700
5,002
2,438
2,564
-1 ,3 3 6
1,694
-7 7 7
2,471
-3 ,0 3 0
-2 ,9 6 5
-6 5
-5 ,2 2 5
-1 ,5 2 4
D efinitional and statistical
S tatistical
D efinitional and statistical
Definitional, m ethodological, and statistical
D efinitional and statistical
D efinitional and statistical
M ethodological and statistical
D efinitional, m ethodological, and statistical
2007
7,361
9,458
5,874
2,700
3,174
-2 8 3
-1 ,2 4 1
-3 ,7 0 1
-2 ,4 9 9
-1 ,2 0 2
Definitional and statistical
Definitional and statistical
D efinitional and statistical
D efinitional, m ethodological, and statistical
D efinitional and statistical
D efinitional and statistical
Definitional, m ethodological, and statistical
Definitional, m ethodological, and statistical
Table 7.2. Investment Income, Southbound
[M illio n s o f U .S. d o lla rs ]
C o m m o n -b a s is e stim ates after
definitional and m ethodological
adjustm ents
Published estim ates
C anadian
receipts
U.S.
paym ents
D ifference
Canadian
receipts
U.S.
paym ents
Difference
R econciled estim ates,
including statistical
adjustm ents
C anadian
receipts
U.S.
paym ents
Total adjustm ents to published estim ates
C anada
United
States
Type of adjustm ent
2006
In v e s tm e n t In c o m e .....................................................
22,677
27,167
-4 ,4 9 0
18,800
25,520
-6 ,7 2 0
25,493
25,493
2,816
-1 ,6 7 4
D ire c t in v e s tm e n t in c o m e ....................................
E arnings of in corporated a ffilia te s ...................
D ivid en ds ...........................................................
Reinvested e a rn in g s .......................................
E arnings of unin corporated a ffilia te s ..............
In te re s t...................................................................
10,079
8 ,206
2 ,713
5,493
1,705
168
15,211
14,304
1,728
12,576
507
400
-5 ,1 3 2
-6 ,0 9 8
985
-7 ,0 8 3
1,198
-2 3 2
9,669
9,180
3,819
5,361
400
89
15,115
14,193
1,617
12,576
507
415
-5 ,4 4 6
-5 ,0 1 3
2,202
-7 ,2 1 5
-1 0 7
-3 2 6
15,682
14,977
3,461
11,516
453
252
15,682
14,977
3,461
11,516
453
252
5,603
6,771
748
6,023
-1 ,2 5 2
84
471
673
1,733
-1 ,0 6 0
-5 4
-1 4 8
O th e r in v e s tm e n t in c o m e ....................................
S e cu ritie s................................................................
D ivid e n d s...........................................................
In te re s t...............................................................
C anadian claim s/U .S. lia b ilitie s ........................
C anadian b ank c la im s ....................................
O ther private C anadian c la im s ....................
12,598
6,826
4,197
2,629
4,262
3 ,328
934
9,131
6,311
3,850
2,461
1,266
332
934
1,554
10,405
8,243
4,480
3,763
880
110
770
1,282
-1 ,2 7 4
-1 ,9 3 2
-6 3 0
-1 ,3 0 2
386
222
164
272
9,811
7,277
-2 ,7 8 7
1,510
642
-1 ,2 3 5
-2 8 3
-9 5 2
1,649
1,917
-2 6 8
228
9,811
7,277
U.S. G o vern m en t lia b ilitie s ................................
11,956
8,061
4,480
3,581
2,613
1,411
1,202
1,282
4,165
3,112
1,132
122
1,010
1,402
4,165
3,112
1,132
122
1,010
1,402
451
-3 2
483
-3 ,1 3 0
-3 ,2 0 6
76
-1 0 8
-2 ,1 4 5
-7 8 4
-3 1 5
-4 6 9
-1 ,4 8 1
-1 ,2 8 9
-1 9 2
120
In v e s tm e n t In c o m e .....................................................
25,136
28,010
-2 ,8 7 4
20,393
25,845
-5 ,4 5 2
25,704
25,704
568
-2 ,3 0 6
D ire c t in v e s tm e n t in c o m e ....................................
E arnings of in corporated a ffilia te s ...................
D ivid en ds ...........................................................
Reinvested e a rn in g s.......................................
E arnings of unincorporated a ffilia te s ..............
In te re s t...................................................................
10,164
9,015
2,320
6,695
920
229
13,506
11,842
777
11,065
-4 3
1,707
- 3 ,3 4 2
-2 ,8 2 7
1,543
-4 ,3 7 0
963
-1 ,4 7 8
9,772
9,246
3,094
6,152
471
55
13,499
11,821
756
11,065
-4 3
1,721
-3 ,7 2 7
-2 ,5 7 5
2,338
-4 ,9 1 3
514
-1 ,6 6 6
14,232
13,130
2,833
10,297
214
888
14,232
13,130
2 ,833
10,297
214
888
4 ,068
4,115
513
3,602
-7 0 6
659
726
1,288
2,056
-7 6 8
257
-8 1 9
O th e r in v e s tm e n t in c o m e ....................................
S e cu ritie s................................................................
D ividends...........................................................
In te re s t...............................................................
C anadian claim s/U .S. lia b ilitie s ........................
C anadian bank c la im s ....................................
O ther private C anadian c la im s ....................
U.S. G o vern m en t lia b ilitie s ................................
14,972
8 ,634
5,230
3,404
4 ,455
3,541
914
1,883
14,504
9,719
5,438
4,281
3,497
1,927
1,570
1,288
468
-1 ,0 8 5
-2 0 8
-8 7 7
958
1,614
-6 5 6
595
10,621
7,985
4,798
3,187
764
-1 5 0
914
1,872
12,346
10,081
5,438
4,643
977
-8
985
1,288
-1 ,7 2 5
-2 ,0 9 6
-6 4 0
-1 ,4 5 6
-2 1 3
-1 4 2
-7 1
584
11,472
9,033
5,118
3,915
876
-1 8 1
1,057
1,563
11,472
9,033
5,118
3,915
876
-1 8 1
1,057
1,563
-3 ,5 0 0
399
-1 1 2
511
-3 ,5 7 9
-3 ,7 2 2
143
-3 2 0
-3 ,0 3 2
-6 8 6
-3 2 0
-3 6 6
-2 ,6 2 1
-2 ,1 0 8
-5 1 3
275
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November 2008
64
Research Spotlight
Regional Price Parities
Comparing Price Level Differences Across Geographic Areas
B
y
B
e t t in a
P
H .
A
t e n
a n d
R
o g e r J .
D
’S
o u z a
RICE indexes are c o m m o n ly used to m easu re price
level differences b etw een o n e tim e p e rio d an d th e
next, such as th e c o n su m e r p rice in d ex (C PI) p u b
lished by th e B ureau o f L abor Statistics (BLS). T he p e r
cen t change in th e C PI is a m easu re o f in flatio n . Less
c o m m o n are p rice indexes th a t m easu re p rice level d if
ferences betw een o n e place a n d an o th e r. T his is in p a rt
b ecause th e m e th o d o lo g y a n d sam p lin g re q u ire m e n ts
fo r th e tw o types o f m easures have im p o rta n t d iffer
ences. F o rtunately, advances in reg io n al e c o n o m e tric
analysis a n d in th e tech n iq u es u sed in estim a tin g tim eto -tim e indexes, such as h e d o n ic regressions, are ap p li
cable to th e e stim a tio n o f p lace-to -p lace indexes.
T his Research Spotlight describes a m e th o d devel
o p e d by th e B ureau o f E co n o m ic A nalysis (BEA) to es
tim a te p lace-to -p lace indexes th a t m easu re regional
p rice level differences. P ercent differences in regional
p rice levels are called reg io n al p rice p arities (RPPs).
T h e m a in difference b etw een an in flatio n index a n d
th e p rice p arities d escrib ed h ere is th a t th e fo rm e r
m easu res changes in p rice levels across different tim e
p erio d s fo r o n e specific place, w hile th e la tte r cap tu res
differences in p rice levels across v ario u s regions for
o n e specific tim e p e rio d . (See th e b o x “U sing R egional
Price P arities To C o m p a re Price Levels B etw een Re
g io n s” ).
T he B ureau o f E co n o m ic Analysis (BEA), in a jo in t
p ro ject w ith BLS, first e stim ated reg io n al p rice parities
for 38 large m e tro p o lita n a n d n o n m e tro p o lita n , b u t
u rb a n , areas o f th e U n ited States fo r 2003 a n d 2004
(A ten 2005, 2006). T hese are th e area d efin itio n s for
w h ich BLS p ro d u ces th e C PI, a n d th e y rep resen t a b o u t
87 p erce n t o f th e p o p u la tio n . In th is article we estim ate
RPPs for th e p o rtio n s o f th e U n ited States o u tsid e th e
BLS areas. T hese generally ru ra l areas, w hich are rela
tively sm all in p o p u la tio n , a c co u n t for a b o u t 85 p e r
cent o f th e U.S. counties.
We use th e RPPs to illustrate th e difference regional
prices can have o n v ario u s regional m easures for 2005
a n d 2006. In d o in g so, this article also d e m o n stra te s
th e feasibility o f e stim atin g state, m e tro p o lita n , an d
n o n m e tro p o lita n price levels fro m th e C PI survey an d
fro m C ensus B ureau h o u sin g cost data.
BEA in te n d s to c o n tin u e research in to regional price
indexes a n d c o n tin u e its dialogue w ith BLS o n related
issues. H ow ever, th ere are n o plans c u rre n tly to offi
cially create RPPs, n o r are th e re p lans to officially a d
ju st vario u s BEA regional m easures to ac c o u n t for
regional price differences.
T he re m a in d e r o f this article discusses selected re
sults o f th e research, th e general m eth o d o lo g y , an d
topics for fu tu re research.
S e le c te d R e s u lts
O n e o f th e im p o rta n t ap p licatio n s o f price indexes is to
ad ju st m easures o f in co m e a n d o u tp u t for price level
differences. T his provides users w ith a b e tte r sense o f
differences in q u a n titie s, also k n o w n as volum e d iffer
ences, because th e price level differences have been re
m oved to th e extent possible (Schreyer a n d K oechlin
2002). For this article, we used th e RPPs to ad ju st the
regional m easures o f p erso n al in co m e a n d gross d o
m estic p ro d u c t (G D P) p u b lish e d by BEA (Lenze 2007;
W oodruff, Panek, a n d M cln ern e y 2007).
U sin g R e g io n a l P ric e P a r itie s To C o m p a r e P ric e L e v e ls B e tw e e n R e g io n s
Regional price parities (RPPs) are expressed relative to sota (120.8 divided by 92.6 times 100, which equals
130.5).
the national average and are set at 100 for each year.
Note that this is analogous to the consumer price in
They can easily be used to compare relative price levels
between two states or two m etropolitan areas. Simply dex (CPI), which is produced for 38 geographic areas in
divide the RPP in the first state or area by the RPP of the addition to the national average index. Each index is ex
second state or area and multiply by 100. For example, pressed relative to a base year, set at 100 for 1984. In or
the RPP for Massachusetts was 120.8 in 2006, and for der to obtain the rate of change of price levels between 2
Minnesota, it was 92.6. Therefore, the RPP for Massa years, divide the CPI in 1 year by the CPI in another
chusetts was 30.5 percent higher than that for M inne year and multiply by 100.
November 2008
65
Survey of Current Business
A n ad ju sted to ta l in th is article refers to a m easure
th a t has b een v alued at RPPs, tak in g in to a cc o u n t re
gional p rice level differences, w hile an u n a d ju ste d total
is o n e th a t is v alu ed at c u rre n t n a tio n a l p rices (th a t is,
price levels are assu m ed to b e eq u al across all regions).
Since we have very little, if any, in fo rm a tio n o n price
level differences fo r g o v e rn m e n t services, transfers, in
v e stm e n t in co m e, a n d o th e r c o m p o n e n ts o f to ta l p r o d
u c t o n th e in c o m e side o f G D P a c co u n tin g , we only
ad ju st to ta l c o m p e n sa tio n o f em ployees (wages an d
salaries p lu s su p p le m e n ts to w ages a n d salaries) a n d
assum e n a tio n a l prices fo r th e o th e r c o m p o n e n ts o f
p e rso n a l in co m e a n d GDP.
T h e resu lts fo r 2005 a n d 2006 fo r all states a n d th e
D istric t o f C o lu m b ia are in table 1, w hile th e results for
th e 363 m e tro p o lita n areas are listed in table 3. A d d i
tionally, c h a rt 1 show s th e b re ak d o w n o f RPPs w ith in a
state by m e tro p o lita n an d n o n m e tro p o lita n p o rtio n s.
T he tw o tables list th e to tal c o m p en sa tio n o f e m
ployees at b o th n a tio n a l prices an d at RPPs (scaled so
th a t th e U.S. totals are equal a n d th e n a tio n a l average is
100). T hey also illustrate th e differences, by state an d
m e tro p o lita n statistical area, betw een th e u n a d ju ste d
a n d ad ju sted p e r cap ita p erso n a l in co m e a n d p e r cap
ita GDP.
Price levels te n d to be highly positively correlated
w ith u n a d ju ste d p e r capita incom es, m e a n in g regions
w ith h ig h p e r capita p erso n al in com es te n d to have
h ig h price levels, a n d th o se w ith low p e r capita p e r
sonal in com es te n d to have low price levels. T herefore,
ad ju stin g th e p e r capita incom es by th e ir RPPs w ill re
duce th e range o f values, b rin g in g th e m closer to th e
Table 1. Per Capita State Personal Income and Per Capita State Gross Domestic Product (GDP) Adjusted by Regional Price Parities
2005
A rea
C om pensation of
em p lo ye e s'
(m illions of dollars)
A t current
national
prices
United S ta te s ........................................
A t regional
price
parities
2006
Per capita
personal Income
R egional
price parity
A t current
national
prices
A t regional
price
parities
Per capita GDP
At current
national
prices
A t regional
price
parities
Com pensation of
em p lo ye e s1
(m illions of dollars)
A t current
national
prices
At regional
price
parities
Per capita
personal incom e
Regional
price Parity
A t c urrent
national
prices
A t regional
price
parities
Per c apita G D P
A t current
national
prices
A t regional
price
parities
7,009,477
7,009,477
100.0
34,757
34,757
41,815
41,815
7,429,024
7,429,024
100.0
36,714
36,714
43,915
43,915
87,392
17,943
121,606
48,083
917,796
119,624
111,109
24,188
112,596
17,432
126,539
62,179
721,712
122,236
89,307
24,171
57,589
378,763
228,709
25,338
30,574
318,071
153,109
74,663
71,553
100,433
103,833
27,719
140,125
165,562
242,670
141,997
59,141
153,281
20,162
44,797
61,164
27,839
196,451
42,484
421,180
209,870
18,304
77.6
102.9
96.1
77.3
127.2
97.9
124.4
100.1
106.6
97.6
88.9
128.3
82.7
102.3
87.2
83.9
83.7
81.3
79.8
92.8
105.7
121.3
94.7
97.5
76.7
82.6
82.3
87.8
99.8
114.6
124.6
82.6
131.0
88.6
74.8
88.5
80.1
96.5
93.3
114.4
83.1
79.3
83.1
91.1
88.1
101.8
102.2
103.6
66.4
91.6
86.2
29,306
36,261
30,386
26,989
37,462
37,600
47,943
37,083
54,371
34,798
31,193
34,935
28,301
36,489
30,900
31,535
32,709
28,387
24,901
30,952
41,657
43,612
32,694
37,256
25,490
31,426
29,183
32,882
37,450
37,557
43,598
28,175
41,016
30,713
31,871
31,939
30,107
31,599
34,927
35,987
28,460
31,557
30,827
34,858
35,497
31,215
32,074
32,013
38,159
41,689
37,062
47,825
35,306
33,977
29,285
32,012
35,911
34,032
35,602
36,966
32,894
29,570
32,479
40,217
38,115
33,972
37,952
30,242
3 6,033
32,990
35,999
37,497
34,443
38,012
32,040
34,247
33,480
39,124
3 4,837
34,583
32,386
36,573
33,124
32,323
36,520
35,094
35,389
30,699
32,453
37,386
34,967
34,954
34,930
40,931
33,338
58,849
35,670
31,385
44,911
45,860
55,499
67,492
141,960
37,587
39,347
43,210
32,184
43,681
37,774
39,801
38,381
33,233
40,113
34,221
43,862
49,781
36,817
45,257
27,508
37,159
31,968
41,186
45,729
41,530
49,397
36,367
49,910
40,407
39,210
38,591
34,378
39,072
39,308
40,895
32,923
39,153
37,566
43,308
35,275
37,202
46,403
43,277
29,403
39,164
53,789
38,890
58,086
36,499
36,470
39,463
46,419
49,246
67,472
135,414
38,094
42,131
37,560
35,894
43,103
40,905
43,868
42,639
37,741
44,782
35,748
42,421
44,284
38,095
45,953
32,260
41,767
35,775
44,303
45,776
38,417
43,811
40,233
43,140
43,175
46,464
41,488
38,853
39,860
40,954
38,032
36,786
44,116
4 1,833
45,445
37,981
36,821
4 5,820
42,406
37,835
41,265
57,405
92,664
19,071
133,377
50,493
973,687
127,610
116,231
25,267
114,739
17,878
141,302
64,569
754,156
131,452
95,607
80.8
106.7
94.4
78.2
129.1
97.1
121.6
97.7
106.6
99.9
87.9
133.4
82.7
99.2
83.5
82.9
83.6
80.8
83.6
92.2
106.5
120.8
92.5
92.6
80.2
81,3
83.1
87.3
100.4
113.0
125.6
83.5
131.8
86.9
79.5
87.2
81.6
95.4
94.2
113.7
83.2
82.3
84.7
91.7
86.5
99.5
102.1
102.9
70.3
91.5
87.4
30,894
38,138
31,936
2 8,473
39,626
39,491
50,762
39,131
57,746
36,720
32,095
37,023
29,920
38,409
32,288
33,038
34,799
29,729
31,821
32,095
43,788
46,299
33,788
38,859
27,028
32,789
30,790
34,440
38,994
39,753
46,763
29,929
44,027
32,247
32,763
33,320
32,391
33,299
36,825
37,523
29,767
32,030
3 2,172
3 5,166
2 9,406
34,871
39,540
38,212
28,206
3 4,405
40,655
35,703
36,376
33,222
33,483
33,570
40,297
44,863
39,815
50,876
36,740
35,267
30,236
33,905
38,636
36,635
37,616
39,355
34,587
35,882
3 3,805
42,100
4 0,629
3 5,652
41,101
31,086
38,017
34,544
63,645
38,503
3 2,346
48,060
47,473
58,632
69,879
150,607
39,679
4 0,292
45,890
33,091
45,706
37,872
41,024
40,150
34,824
3 9,353
61,884
39,788
37,357
42,004
48,279
52,732
State
A la b a m a ......................................................
A la s k a ...........................................................
A riz o n a .........................................................
A rk a n s a s .....................................................
C a lifo rn ia .....................................................
C o lo ra d o ......................................................
C o n n e c tic u t................................................
D e la w a re .....................................................
D istrict o f C o lu m b ia ..................................
F lo r id a ..........................................................
G e o rg ia .........................................................
H a w a ii...........................................................
Idaho ............................................................
Illin o is ...........................................................
In d ia n a ..........................................................
Io w a ...............................................................
K a n s a s .........................................................
Kentucky ......................................................
L o u is ia n a .....................................................
M a in e ............................................................
M a ry la n d .....................................................
M a s s a c h u s e tts ...........................................
M ic h ig a n ......................................................
M in n e s o ta ....................................................
M is s is s ip p i...................................................
M is s o u ri........................................................
M o n ta n a .......................................................
N e b ra s k a .....................................................
Nevada .........................................................
New H a m p sh ire .........................................
New J e rs e y ..................................................
New M e x ic o ................................................
N ew Y o rk .....................................................
N orth C a ro lin a ............................................
N orth D a k o ta ..............................................
O h io ...............................................................
O k la h o m a ....................................................
O re g o n .........................................................
P e n n s y lv a n ia ..............................................
Rhode Is la n d ..............................................
South C a ro lin a ............................................
South D akota..............................................
Tennessee ...................................................
Texas ............................................................
U ta h ...............................................................
V e rm o n t........................................................
Virginia .........................................................
W a sh in g to n .................................................
W est V irg in ia ..............................................
W is c o n s in ....................................................
W yo m in g .......................................................
61,399
369,760
203,353
32,501
25,284
325,423
133,518
62,642
59,880
81,634
82,844
25,716
148,152
200,901
229,755
138,440
45,358
126,615
16,600
39,330
61,051
31,896
244,815
35,077
551,577
185,853
13,692
256,020
63,610
78,860
285,348
24,257
80,766
14,823
125,557
501,893
50,248
13,454
208,313
157,176
30,098
126,818
11,431
289,223
79,435
81,718
305,700
21,204
97,202
18,694
151,113
550,704
57,027
13,218
203,927
151,713
45,323
138,460
13,263
33,253
27,992
32,833
37,968
35,838
26,523
32,829
37,316
1. Compensation of employees at the state level can be found at www.bea.gov/regional/gsp.
64,750
395,507
214,427
34,661
27,808
342,509
138,391
65,863
64,166
85,752
88,097
26,721
155,911
211,500
231,522
144,306
47,683
132,354
17,874
41,382
6 5,794
33,591
257,043
37,697
591,424
198,587
14,564
264,822
69,657
84,062
299,563
25,387
85,601
15,662
132,929
546,802
55,162
14,038
220,072
169,787
31,751
132,394
13,055
25,850
60,728
395,863
244,060
25,982
33,640
345,401
165,787
79,472
76,721
106,178
105,329
28,969
146,451
175,017
250,358
155,866
59,448
162,872
21,500
47,393
65,537
29,727
204,720
45,127
448,662
228,630
18,315
303,587
85,346
88,150
317,895
22,335
102,861
19,030
156,868
596,352
63,793
14,106
215,590
165,064
45,177
144,636
14,930
34,619
3 7,848
38,891
36,807
40,726
33,755
36,624
35,634
38,648
36,702
36,777
34,407
38,303
34,648
33,753
36,301
36,112
37,283
32,752
34,981
38,952
37,471
35,629
36,602
44,312
47,880
35,242
45,979
52,113
37,195
46,967
29,176
37,702
33,792
42,687
49,371
42,744
51,745
37,152
53,331
42,949
40,553
39,395
36,364
40,905
41,020
43,078
33,766
40,596
38,808
45,631
37,977
38,062
48,245
45,694
30,970
40,087
58,320
70,563
143,737
39,699
4 3,464
39,102
37,075
45,933
42,219
45,602
44,706
39,682
51,941
36,952
44,291
46,443
39,060
49,210
33,234
42,930
37,621
46,095
49,268
39,799
45,707
40,978
45,927
46,336
46,437
42,776
40,749
42,013
42,499
40,203
37,752
44,867
42,748
47,748
41,323
38,172
47,657
44,954
38,393
42,284
61,977
66
R esearch
n a tio n a l average o f $34,757 in 2005 a n d $36,714 in
2006.
T h e sam e ho ld s tru e for p e r cap ita GDP, alth o u g h
th e c o rre la tio n is n o t as stro n g as it is fo r p e rso n al in
com e. T his is p a rtly d u e to differences in th e c o m p o si
tio n o f th e tw o m easu res (see W o o d ru ff, Panek, an d
M c ln e rn e y 2007, table B, 116) a n d d u e to th e fact th a t
w e o n ly ad ju st th e c o m p e n sa tio n o f em ployees p o rtio n
o f p e rso n a l in co m e a n d G D P by th e estim ated RPPs.
O f all states, W est V irginia h ad th e low est price p a r
ity fo r b o th 2005 a n d 2006, w h ich is a b o u t o n e -th ird
below th e n a tio n a l average. W est V irginia, N o rth D a
k ota, A rkansas, M ississippi, a n d A lab am a w ere th e
states w ith th e low est RPPs. In 2005, N ew York State
h a d th e h ig h est RPP, b u t H aw aii was hig h est in 2006,
a b o u t o n e -th ird h ig h e r th a n th e n a tio n a l average.
C o n n e c tic u t, C alifornia, a n d N ew Jersey jo in e d N ew
York a n d H aw aii as states w ith th e h ig h est price p a ri
ties.
In 2006, th e ran g e b etw een th e h ig h est a n d low est
state p e r cap ita p e rso n a l in co m e at n a tio n a l prices was
$30,718. A t RPPs, th e range s h ra n k to $20,640. S im i
larly, th e sta n d a rd d ev iatio n d ro p p e d by 40.4 percent.
W h e n lo o k in g at p e r cap ita G D P at n a tio n a l prices in
2006, th e ran ge b etw een th e h ig h est a n d low est state
w as $121,431. A d ju stm e n t by RPPs red u ced th e range
to $110,503, a n d th e sta n d a rd d ev iatio n was red uced
9.9 p ercen t.
In table 3, all 363 m e tro p o lita n statistical areas are
sh o w n , as well as th e m e tro p o lita n a n d n o n m e tro p o li
ta n b re a k d o w n for th e U n ited States T h e m e tro p o lita n
areas h a d a p rice p a rity th a t is ap p ro x im ately 41 p e r
cen t h ig h e r in 2005 th a n th e n o n m e tro p o lita n areas,
w hile in 2006, th e difference increased to 44 p ercent.
O f th e 363 m e tro p o lita n areas, C u m b e rla n d , M D WV, h a d th e low est p rice p a rity in b o th 2005 an d 2006,
at ro u g h ly 40 p e rc e n t below th e n a tio n a l average.1
W eirto n -S teu b en v ille, W V -O H , W heeling, W V -O H ,
G ad sen , AL, a n d K in g sp o rt-B risto l-B ristol, TN-VA,
also h a d low p rice p arities fo r b o th years. O f all th e
m e tro p o lita n areas, San Jo se-S unnyvale-S anta C lara,
CA, h a d th e hig h est, w h ich was a b o u t 50 p ercen t
h ig h e r th a n th e n a tio n a l average. B rid g ep o rt-S tam fo rd -N o rw alk , CT, San F ra n c isc o -O a k la n d -F ree m o n t,
CA, N ew Y o rk -N o rth ern N ew Jersey-L ong Island, NYNJ-PA, a n d S anta C ruz-W atsonville, CA, w ere also
a m o n g th e m o st expensive m e tro p o lita n areas.
In 2006, th e ran g e b etw een th e hig h est a n d low est
m e tro p o lita n area p e r cap ita p e rso n a l in com es was
1. M etropolitan areas in this article are m etropolitan statistical areas as
defined by the Office of M anagem ent and Budget.
S p o tlig h t
November 2008
$56,873. A fter ad ju stin g for RPPs, this range sh ra n k to
$38,777, an d th e sta n d a rd d ev iatio n was 26.6 p ercen t
lower. T he range for p e r capita G D P at n a tio n a l prices
was $70,468, a n d at RPPs, it was $68,696. RPPs re
d u ced th e sta n d a rd d ev iatio n o f m e tro p o lita n area p e r
capita G D P by 11.2 percent.
C h a rt 1 show s th e b rea k d o w n betw een th e n o n m e t
ro p o lita n p o rtio n (u p p e r box) a n d th e m e tro p o lita n
p o rtio n (low er box) o f th e RPPs w ith in states. As ex
pected, given th a t h o u sin g costs are generally m u c h
low er in n o n m e tro p o lita n areas, RPPs are also low er
for th e n o n m e tro p o lita n p o rtio n o f each state. O n e ex
cep tio n was M assachusetts, w here th e tw o n o n m e tro
p o lita n co u n ties are D ukes (M a rth a ’s V ineyard) and
N an tu ck et. T h eir c o m b in ed R PP w as 129.3, a b o u t 7
p e rc en t h ig h e r th a n th a t o f th e rest o f M assachusetts.
T here are n o n o n m e tro p o lita n p o rtio n s o f N ew Jersey,
R hode Island, a n d W ashington, DC.
O v e rv ie w o f M e th o d o lo g y
O u r e stim atio n b egan w ith th e in d iv id u al price o b se r
vations, o r m icro d ata , used in th e CPI. T he C PI survey
includes m illions o f price qu o tes p er year for h u n d re d s
o f co n su m er goods a n d services, ran g in g fro m new
cars to h aircu ts as well as o b serv atio n s o n ren ts.2
In c o o p e ra tio n w ith BLS, we estim ated h e d o n ic re
gression m odels th a t to o k in to acc o u n t differences in
th e characteristics o f th e item s— such as differences in
packaging, u n it size, a n d ty p e o f o u tle t w here th e item
is sold— to o b ta in price levels for each item in each
geographic area. T hese in d iv id u al price levels w ere
2. Rents and owner equivalent rents used in the CPI are n ot the same as
the housing costs published by the Census Bureau.
A c k n o w le d g m e n ts
Part of the work reported here is based on a 5-year
agreement with the Bureau of Labor Statistics (BLS)
to access the consumer price index (CPI) research
database, which is m aintained by the BLS Division of
Price and Index Num ber Research. The agreement
was made possible in large part thanks to David
Johnson (now at the Census Bureau) and John Ruser
(now at BLS). We would also like to thank Walter
Lane, Frank Ptacek, and Robert Cage from the CPI
Division and Lyubov Rozental for her invaluable tech
nical assistance. Thanks also to Robert Brown, Chief
of the Regional Income Division at BEA, and lohn
Kort, former Chief of the Regional Product Division
and now at the U.S. D epartm ent of Agriculture, for
providing analytical and program m atic support.
November 2008
Survey of Current Business
C hart 1. R egional Price P arities by State, 2006
U.S. total =100
N o n m e tr o p o lita n
M e tr o p o lita n
p o r tio n
p o r tio n
67
68
R esearch
th e n aggregated in to m a jo r categories, su ch as fo o d
a n d beverages, a n d in to an overall p ric e level for c o n
s u m p tio n .3
To e x ten d th e stu d y b e y o n d th ese 38 areas to o th e r
co u n ties, m a in ly n o n m e tro p o lita n ones, it w as neces
sary to have som e in d ic a tio n o f th e ir p rice levels. T he
o n ly co m p reh en siv e p rice m easu re available for all
co u n ties is th e average h o u sin g cost d a ta p u b lish ed by
th e C en su s B ureau. H ow ever, it is im p o rta n t to ac
c o u n t fo r differen t typ es o f h o u sin g stock across th e
co u n try , in m u c h th e sam e w ay th a t we take in to ac
c o u n t differences in th e ch aracteristics o f item s in th e
C PI, n am ely u sin g h e d o n ic regressions.
T his is possible th ro u g h th e recen t a n n u a l A m erican
C o m m u n ity Survey o f th e C ensus B u reau th a t c o n
tain s d etailed in fo rm a tio n o n h o u sin g ch aracteristics
fo r all co u n ties w ith m o re th a n 65,000 p eople. We esti
m a te d a h e d o n ic reg ressio n w ith th e ch aracteristics o f
th e re n te d a n d o w n ed h o u sin g stock in each state, in
clu d in g th e n u m b e r o f ro o m s, b a th ro o m s, age a n d
ty p e o f h o u sin g u n it, as well as th e ir m o rtg ag e status.
T his w as d o n e separately fo r ren ters a n d ow ners, a n d
th e final h o u sin g costs levels are an average o f th e tw o,
w eig h ted b y th e p ro p o rtio n o f o w ners a n d ren ters in
each county.
T h e final step was to m o d e l th e statistical re la tio n
ship b etw een th e p rice levels directly e stim ated fro m
th e C PI a n d th e h o u sin g cost levels estim a te d fro m th e
C en su s B ureau. (See tab le 2.) T h e areas ran ge w idely in
te rm s o f th e ir g eo g rap h ic size a n d p o p u la tio n , fro m
Los A ngeles a n d N ew York to sm aller ones such as A n
chorage, M ilw aukee, a n d K ansas City. T h ere is a very
stro n g positive re la tio n sh ip b etw een p rice levels an d
h o u sin g cost levels, a n d this en ab led us to estim ate the
m o d e l w ith so m e confidence.
T h e 38 areas w ere d e c o m p o se d in to th e ir 425 c o u n
ties, a n d estim ates fo r these sm aller u n its w ere c o n
tro lle d so th a t th e p rice level o f each area equaled th e
p o p u la tio n w eig h ted average p rice level o f its counties.
A second m o d e l was th e n created to o b ta in th e ex
p ec te d p rice levels o f th e n o n m e tro p o lita n counties,
given th e estim ates o f th e m e tro p o lita n areas, plus th e
3. The weights are consum er expenditure weights per item per area, and
the m ultilateral aggregation m ethod used was the Rao-Sum m ers weighted
CPD form ula. Details of the regression estimates for m ore than 200 items
can be found in Aten (2005).
November 2008
S p o tlig h t
in fo rm a tio n o n h o u sin g costs for b o th m e tro p o lita n
a n d n o n m e tro p o lita n co u n ties to talin g over 3,000 o b
servations. T his second, larger m o d e l also takes in to
ac co u n t th e fact th a t m an y co u n ties are a d jacen t to
each other, have sim ilar h o u sin g costs, a n d are th e re
fore m o re likely to have sim ilar price levels.4
F u tu re R e s e a rc h
A n im p o rta n t ex ten sio n o f th is w o rk is to explore th e
d ev elo p m en t o f RPPs th a t reflect m o re th a n c o n su m p
tio n goods a n d services, such as in v e stm en t a n d gov
e rn m e n t price differences, a n d to explore geographic
4. Details o f the estim ated m odels can be found in Aten (2008).
Table 2. Price Levels and Housing Cost Levels for 38 Areas
of the United States
2005
A re a 1
P h ila d e lp h ia ..............................................
B o s to n .........................................................
P ittsb u rg h ...................................................
N e w York C ity ............................................
New York s u b u rb s ...................................
New Jersey sub u rb s ................................
C h ica g o ......................................................
D e tro it.........................................................
St. L o u is .....................................................
C le v e la n d ...................................................
M inn e a p o lis...............................................
M ilw a u k e e ..................................................
C in c in n a ti...................................................
K ansas C ity ...............................................
D istrict o f C o lu m b ia .................................
B altim o re ....................................................
D a lla s ..........................................................
H o u s to n .....................................................
A tla n ta .........................................................
M ia m i..........................................................
T a m p a .........................................................
Los A n g e le s ..............................................
G reater Los A n g e le s ...............................
San F ra n cisco ...........................................
S e a ttle .........................................................
San D ie g o ..................................................
P ortland......................................................
H o n o lu lu .....................................................
A nch o ra g e ..................................................
P h o e n ix ......................................................
D e n v e r........................................................
M idw est C 3.................................................
S outh C 3.....................................................
W est C .......................................................
N ortheast B3..............................................
M idw est B3 ................................................
S outh B3.....................................................
W est B3 .......................................................
M e a n ...........................................................
M a x im u m ...................................................
M in im u m ....................................................
R a n g e .........................................................
Price
level
1.04
1.15
0.81
1.35
1.39
1.18
1.03
0.92
0.84
0.86
1.01
0.86
0.88
0.82
1.09
1.00
0.95
0.94
0.90
1.03
0.87
1.23
1.11
1.35
1.03
1.15
0.95
1.28
1.02
0.97
0.96
0.78
0.79
0.95
0.91
0.85
0.85
0.89
1.00
1.39
0.78
0.61
2006
H ousing
H ousing
c o s t2
cost level
1,044
1,315
716
1,149
1,620
1,383
1,193
1,016
850
888
1,118
987
905
927
1,317
955
994
938
1,007
1,097
837
1,296
1,435
1,674
1,155
1,473
1,075
1,222
1,212
955
1,073
688
563
897
904
840
772
925
1,064
1,674
563
1,111
0.98
1.24
0.67
1.08
1.52
1.30
1.12
0.96
0.80
0.83
1.05
0.93
0.85
0.87
1.24
0.90
0.93
0.88
0.95
1.03
0.79
1.22
1.35
1.57
1.09
1.38
1.01
1.15
1.14
0.90
1.01
0.65
0.53
0.84
0.85
0.79
0.73
0.87
1.00
1.57
0.53
1.04
Price
level
1.03
1.14
0.82
1.36
1.36
1.19
1.00
0.90
0.82
0.85
0.95
0.88
0.88
0.82
1.10
1.01
0.93
0.96
0.90
1.02
0.89
1.26
1.17
1.35
1.03
1.15
0.94
1.33
1.05
0.95
0.97
0.77
0.80
0.94
0.91
0.84
0.86
0.89
1.00
1.36
0.77
0.60
H ousing H ousing
c o s t2
cost level
1,129
1,369
777
1,238
1,741
1,461
1,255
1,072
908
928
1,184
1,053
976
999
1,409
1,017
1,135
1,070
1,070
1,267
969
1,339
1,467
1,696
1,227
1,483
1,105
1,393
1,343
1,048
1,069
749
629
972
954
882
854
966
1,137
1,741
629
1,111
0.99
1.20
0.68
1.09
1.53
1.28
1.10
0.94
0.80
0.82
1.04
0.93
0.86
0.88
1.24
0.89
1.00
0.94
0.94
1.11
0.85
1.18
1.29
1.49
1.08
1.30
0.97
1.23
1.18
0.92
0.94
0.66
0.55
0.85
0.84
0.78
0.75
0.85
1.00
1.53
0.55
0.98
1. These correspond to Bureau of Labor Statistics (BLS) area definitions used in the CPI and are not the
same as the metropolitan statistical areas in table 3. For a list of the counties included in each BLS geographic
area, see table X in Aten (2005) at www.bea.gov/papers/pdf/lnterareaPriceLevels.pdf.
2. Housing costs from the American Community Survey, U.S. Census Bureau. The derivation of estimates is
described in the text.
3. See footnote 1 and table Xi in Aten (2005) at www.bea.gov/papers/pdf/lnterareaPriceLevels.pdf.
November 2008
Survey of Current Business
differences in p ro d u c tio n prices. In in te rn a tio n a l c o m
p a riso n s, th e p rice level o f c o n su m p tio n is o ften a good
a p p ro x im a tio n fo r G D P p rice levels fro m th e e x p e n d i
tu re side. T his is becau se th e relative p rices o f invest
m e n t a n d g o v e rn m e n t change system atically in
o p p o site d irectio n s w h en m e a su re d across p e r capita
incom es. It is n o t clear w h e th e r th is p a tte rn w o u ld be
fo u n d across states o r sm aller g eographies w ith in o ne
co u n try , b u t it seem s w o rth exam ining. O n e a p p ro ach
to th is w o u ld be to d e te rm in e if th e re is a p a tte rn
across states in th e prices o f in p u ts a n d o u tp u ts related
to c o n stru c tio n , p ro d u c e rs’ d u ra b le e q u ip m e n t, an d
g o v e rn m e n t co m p e n sa tio n .
A seco n d o u tg ro w th o f th is w o rk is to ex am ine d if
ferences in p rice levels w ith in m a jo r ex p e n d itu re cate
gories, such as fo o d a n d beverages o r tra n s p o rta tio n ,
a n d w ith in in co m e g ro u p s, in o rd e r to m ake a d ju st
m e n ts to federal a n d state aid p ro g ra m s th a t aim to
ta rg e t p a rtic u la r p o p u la tio n s .5 M o st o f th e n o n -u rb a n
co u n ties in th e U n ite d States h a d low er h o u sin g costs
th a n th e ir u rb a n c o u n te rp a rts w ith in a state, b u t th e
price levels o f goods, such as fresh vegetables, an d o f
m ed ical a n d e d u c a tio n a l services, w ere so m etim es
5. See, for example, the Census Bureau’
s work on poverty measures at
www.census.gov/hhes/www/povmeas/papers.html.
69
higher. U sing th e RPPs m ay b ro a d e n th e analysis o f
p a tte rn s o f c o n su m p tio n price levels w hile enabling a
m o re focused a p p ro a ch to targ etin g areas o f interest.
R e fe re n c es
A ten, B ettina H . 2005. “R e p o rt o n In te ra re a Price Lev
els, 2003.” BEA w o rk in g p a p e r no. 2 0 0 5 -1 1 , N o v em
ber; w w w .b ea.g o v /p ap ers/w o rk in g _ p ap ers.h tm .
A ten, B ettina. 2006. “In te ra re a Price Levels: A n Ex
p e rim e n ta l M ethodology.” M onthly Labor Review 129
(S eptem ber).
Schreyer, Paul, a n d F rancette K oechlin. 2002. “P u r
chasing Pow er P arities— M ea su rem en t a n d Uses.”
OECD Statistics B rie /(M arch );
w w w .o ecd .o rg /d atao ecd /3 2 /3 4 /2 0 7 8 1 7 7 .p d f
Lenze, D avid G. 2007. “State P ersonal Incom e: First
Q u a rte r o f 2007.” S u r v e y of C u r r e n t Business 87 (July):
140-146.
W oodruff, C lifford H ., Ill, S h aro n D. Panek, a n d
T im o th y P. M clnerney. 2007. “G ross D o m estic P ro d u c t
by State: A dvance E stim ates for 2006 a n d R evised E sti
m ates for 2003-2005.” S u r v e y of C u r r e n t Business 87
(July): 111-139.
Table 3 follows.
R esearch
N
S p o tlig h t
icome and Per Capita Gross Domestic Product (GDP) Adjusted by Regional Price Parities by Metr
2005
C om pensation of
e m p lo ye e s1
(m illions of dollars)
A t current
national
prices
At regional
price
parities
2006
Per capita
personal incom e
price parity
At current
national
prices
A t regional
price
parities
Per capita GDP
A t current
national
prices
At regional
price
parities
C om pensation of
e m p lo ye e s1
(m illions of dollars)
At current
national
prices
A t regional
price
parities
price parity
A t current
national
prices
egic
jrice
jritif
7,009,477
7,009,477
100.0
34,757
34,757
41,815
41,815
7,429,024
7,429,024
100.0
36,714
43,
6,291,544
717,933
6,039,182
970,295
104,2
74.0
36,483
26,115
35,459
31,238
44,993
25,901
43,970
31,025
6,673,653
755,371
6,389,794
104.4
72.7
38,564
27,402
46,
32,
2,680
15,654
2,755
22,224
17,461
2,491
16,232
2,412
4,462
1,926
9,809
1,797
2,383
11,451
2,136
5,221
6,729
3,389
131,539
7,069
1,879
10,373
38,239
12,730
74,635
2,909
4,270
15,630
3,082
1,727
7,413
3,431
2,598
3,277
4,756
25,918
2,298
2,867
3,038
4,434
11,541
161,803
9,757
2,340
5,171
37,764
3,890
1,772
24,790
2,395
5,671
7,189
10,096
1,594
1,655
6,340
4,599
6,886
13,091
44,242
4,571
10,505
2,057
264,844
3,027
3,531
17,266
3,641
22,365
18,047
3,248
16,168
3,433
5,789
2,149
9,087
2,107
2,997
10,692
3,051
5,467
8,363
4,045
135,290
6,282
2,422
75.9
90.7
75.7
99.4
96.8
76.7
100.4
70.2
77.1
89.6
107.9
85.3
79.5
107.1
70.0
95.5
80.5
83.8
97.2
112.5
77.6
79.3
106.2
98.1
104.0
83.4
111.2
87.6
83.9
78.8
73.8
97.6
106.4
88.6
83.0
88.9
84.4
75.9
83.6
95.6
90.2
127.4
109.2
83.1
100.1
147.3
70.6
79.5
91.2
83.5
112.8
86.7
98.5
98.7
80.5
92.4
87.3
70.9
95.6
99.0
96.3
81.7
94.2
109.8
92.1
93.0
79.0
73.8
90.3
89.3
84.0
100.5
87.0
88.0
76.8
87.1
97.7
85.9
98.5
60.7
100.2
73.7
69.0
70.2
84.4
88.4
27,790
33,739
24,811
36,107
31,061
29,908
33,677
27,693
28,750
31,158
39,525
27,871
26,975
38,682
27,445
33,455
29,022
26,223
35,262
33,589
24,181
28,356
34,701
25,050
40,933
28,537
42,618
30,154
28,588
28,000
28,519
29,214
33,144
36,038
30,282
36,274
31,795
35,063
33,595
35,802
34,325
33,879
37,473
30,244
30,495
36,484
35,616
34.606
33,199
29,881
36,019
30,664
28,514
3,727
17,982
3,895
23,245
19,216
3,413
16,794
3,532
6,494
2,237
9,280
2,317
3,106
10,709
3,266
5,748
9,295
4,394
36,
39,
34,
42,
40,
35,
33,
38,
42,
42,
62,
27,
28,
48,
40,
30,806
36,013
31,800
38,431
37,441
29,969
29,449
33,487
34,227
39,677
44,129
32,110
36,294
55,302
22,099
35,925
33,928
30,298
32,089
31,595
38,873
39,325
45,619
35,364
31,884
40,225
32,031
36,864
37,430
34,983
38,403
36,951
27,893
37,213
35,602
33,079
38,300
29,262
27,194
33,002
33,614
34.116
37,564
37,476
35,398
32,503
34,191
34,428
38,041
35,721
32,148
31,775
36,696
34,893
77.4
89.7
71.9
100.2
97.7
77.2
102.0
69.9
73.5
91.0
111.7
77.3
79.5
109.0
69.1
93.6
77.4
81.7
97.7
111.1
84.4
77.2
110.0
96.7
105.6
82.4
111.9
94.0
83.6
79.5
73.9
94.5
106.6
89.4
81.1
93.5
89.5
72.4
81.3
92.7
91.3
126.3
108.9
81.5
98.9
143.2
70.1
74.4
90.9
77.9
112.6
82.3
107.3
96.9
82.4
90.2
82.6
73.0
97.4
98.5
93.7
83.8
94.9
106.6
84.9
92.6
77.1
73.4
91.2
89.1
84.0
96.8
85.5
87.8
75.2
83.6
96.7
85.7
90.5
59.3
97.6
71.1
67.6
67.4
81.6
87.3
29,847
35,188
25,432
38,213
32,727
30,800
35,369
28,865
30,515
32,556
41,104
29,000
27,955
39,892
28,959
34,786
30,767
26,924
31,909
33,142
27,856
35,448
33,172
24,136
26,153
32,195
31,925
47,491
47,032
27,838
36,308
68,840
17,760
31,234
31,825
26,913
35,211
28,895
38,598
38,938
39,865
33,269
28,800
30,959
31,026
36,580
36,546
30,316
36,922
39,454
26,691
35,326
29,618
27,357
35,555
27,449
23,963
33,131
30,257
31,001
30,771
33,156
34,777
29,353
33,814
24,775
38,089
26,984
24,719
25,492
32,405
31,739
33,904
38,956
33,771
40,842
40,803
33,574
33,270
37,356
39,173
40,802
61,423
26,620
28,009
47,911
37,484
41,170
34,443
33,921
49,615
43,946
28,541
36,545
43,572
30,737
43,453
36,904
33,868
47,934
37,226
28,457
38,825
35,883
39,046
41,590
30,684
48,065
42,940
33,863
32,328
45,671
42,923
50,736
51,670
38,413
31,109
67,630
20,766
34,798
36,228
32,337
42,103
33,309
37,850
48,959
83,799
47,442
35,232
50,238
38,385
62,536
41,630
41,674
42,769
46,507
26,117
2,886
16,128
2,801
23,300
18,768
2,634
33,586
33,188
25,385
39,861
32,483
40,711
33,190
32,857
32,287
35,421
29,677
28,549
36,657
28,300
40,675
40,069
28,418
33,352
29,247
33,598
38,080
63,475
24,247
24,489
50,109
29,312
40,019
30,266
30,264
48,859
46,871
24,208
31,315
45,085
30,402
44,525
32,957
35,775
44,898
32,957
24,169
31,922
35,420
40,149
38,719
26,741
45,082
38,672
28,029
29,031
44,379
40,621
58,550
54,573
34,141
31,123
81,168
16,427
30,107
34,126
28,952
45,225
30,609
37,574
48,572
78,046
45,348
32,148
40,973
37,380
62,252
40,746
37,007
41,287
49,010
24,916
43,221
31,671
31,151
46,829
27,115
27,208
36,230
34,190
38,031
33,725
46,951
48,189
32,113
43,589
21,911
54,296
42,662
25,080
26,346
39,490
38,551
52,630
5,685
1,739
54,338
1,919
3,338
14,393
3,517
15,871
6,376
2,132
46,102
7,859
1,942
1,487
159,113
3,208
1,354
1,577
8,662
20,291
13,080
36,015
12,981
71,793
3,489
3,841
17,847
3,672
2,193
10,041
3,517
2,442
3,697
5,731
29,164
2,723
3,779
3,635
4,641
12,795
126,992
8,936
2,817
5,168
25,646
5,507
2,230
27,189
2,868
5,029
8,290
10,246
1,615
2,055
6,858
5,269
9,709
13,696
44,673
4,747
12,852
2,184
241,298
3,285
56,598
7,192
2,357
60,155
2,149
3,974
14,317
4,042
18,025
8,305
2,449
47,168
9,154
1,972
2,449
158,830
4,349
1,962
2,247
10,264
22,942
45,108
37,655
36,874
49,574
28,928
30,438
36,101
37,547
41,146
40,517
51,271
48,811
35,264
43,967
31,563
54,248
51,399
32,509
32,628
43,780
41,704
17,136
2,469
4,776
2,035
10,365
1,791
2,471
11,671
2,258
5,379
7,190
3,591
138,943
7,378
2,031
10,714
41,941
13,833
78,575
3,015
4,406
17,239
3,124
1,779
8,147
3,646
2,946
3,477
5,045
27,199
2,451
3,038
3,144
4,673
12,941
171,041
10,253
2,476
5,501
40,137
4,191
1,919
25,837
2,521
5,944
7,244
10,953
1,650
1,897
6,641
4,772
7,232
13,967
48,135
4,927
11,100
2,274
279,015
3,219
54,271
6,228
1,777
56,226
2,132
3,602
15,054
3,701
17,010
6,739
2,270
48,169
8,570
2,019
1,550
172,309
3,290
1,385
1,534
9,110
20,938
1,039,230
142,176
6,643
2,405
13,873
38,117
14,302
74,379
3,661
3,936
18,340
3,738
2,237
11,025
3,857
2,763
3,889
6,222
29,098
2,739
4,198
3,866
5,040
14,181
135,446
9,418
3,039
5,565
28,037
5,976
2,581
28,430
3,235
5,277
8,806
10,205
1,703
2,302
7,361
5,780
9,908
14,347
48,877
5,258
13,243
2,396
261,623
3,793
58,600
8,076
2,421
61,679
2,393
4,290
15,557
4,328
19,375
8,967
2,716
49,813
10,000
2,231
2,616
176,608
4,630
2,050
2,274
11,157
23,976
36,060
35,480
25,399
29,328
36,328
25,938
43,026
29,324
45,445
31,443
29,862
29,317
31,104
30,688
33,522
34,923
29,787
37,331
34,357
25,257
27,240
33,704
33,774
50,542
49,628
28,904
39,353
74,281
18,559
32,889
33,803
28,265
37,280
29,769
40,113
41,478
44,152
34,826
30,128
33,010
32,246
38,164
38,383
31,685
39,647
41,591
28,034
36,650
31,910
27,833
37,406
29,134
25,454
34,255
31,325
32,614
31,922
35,004
36,110
31,464
35,722
26,038
39,924
27,720
25,700
26,008
34,236
33,195
41,
37,
34,
50,
46,
28,
37,
43,
33,
45,
38,
34,
49,
38,
29,
43,
36,
39,
43,
32,
48,
41,
37,
32,
47,
42,
53,
53,
40,
34,
74,
21,
37,
37,
35,
42,
34,
36,
55,
86,
47,
37,
51,
39,
69,
45,
41,
47,
49,
28,
45,
41,
34,
50,
31,
31,
37,
37,
43,
42,
55,
50,
38,
50,
33,
57,
52,
33,
32,
46,
43,
N ovem ber
Survey of C urrent Business
2008
71
Table 3. Per Capita Personal Income and Per Capita Gross Domestic Product (GDP) Adjusted by Regional Price Parities by Metropolitan Area—Continues
2005
A rea
C om pensation of
e m p lo ye e s1
(m illions of dollars)
A t current
national
prices
D ecatur, A L ............................................................
Decatur, I L ..............................................................
D eltona-D aytona B each-O rm ond Beach, FL.
D enver-Aurora, C O ..............................................
Des M oines-W est Des Moines, IA ...................
D e troit-W arren-Livonia, M l.................................
D othan, A L ............................................................
Dover, DE
D ubuque, IA ...........................................................
D uluth, M N -W I.......................................................
Durham , N C ..........................................................
Eau Claire, W l ......................................................
El Centro, C A .........................................................
E lizabethtow n, K Y ...............................................
Elkhart-G oshen, IN ..............................................
Elm ira, NY
El Paso, TX
Erie, PA...................................................................
E ugene-S pringfield, O R .....................................
Evansville, IN-KY
Fairbanks, A K .
Fargo, N D -M N ......................................................
Farm ington, N M ....................................................
Fayetteville, N C .....................................................
Fayetteville-S pringdale-R ogers, AR -M O
Flagstaff, A Z ..........................................................
Flint, M l...................................................................
Florence, S C .........................................................
Florence-M uscle Shoals, A L ..............................
Fond du Lac, W l ...................................................
Fort C ollins-Loveland, C O .................................
Fort Sm ith, A R - O K ..............................................
Fort W alton B each-C restview -D estin, F L ......
Fort W ayne, IN ......................................................
Fresno, C A .............................................................
G adsden, A L .........................................................
G ainesville, F L ......................................................
G ainesville, G A .....................................................
G lens Falls, NY..
G oldsboro, NC...
Grand Forks, N D -M N ...........................................
G rand Junction, C O .............................................
Grand Rapids-W yom ing, M l.............................
G reat Falls, M T .....................................................
Greeley, CO
G reen Bay, W l ......................................................
G reensboro-H igh Point, N C ...............................
Greenville, N C ~ ....................................................
G reenville-M auldin-E asley, S C .........................
G ulfport-B iloxi, M S ..............................................
Hagerstow n-M artinsburg, M D -W V ..................
Hanford-C orcoran, C A ........................................
H arrisburg-C arlisle, P A .......................................
H arrisonburg, V A ..................................................
H artford-W est H artford-E ast Hartford, CT
Hattiesburg, M S ....................................................
Hic kory-Lenoir-M organton, N C .........................
Hinesville-F ort Stew art, G A ...............................
H olland-G rand Haven, M l..................................
H onolulu, H I...........................................................
H ot Springs, A R ....................................................
Houm a-Bayou C ane-Thibodaux, L A ...............
H o u ston -S ug ar Land-Baytow n, T X ..................
H un tington-A shland, W V -K Y -O H .....................
H untsville, A L ........................................................
Idaho Falls, ID ........................................................
In dian a po lis-C a rm el, IN ......................................
Iow a City, IA ...........................................................
Ithaca, N Y ...............................................................
Jackson, M l ...........................................................
Jackson, M S ..........................................................
Jackson, T N ...........................................................
Jacksonville, F L ....................................................
Jacksonville, N C ...................................................
J anesville, W l .......................................................
J efferson City, M O ...............................................
Johnson City, T N ..................................................
Johnstow n, P A ......................................................
Jonesboro, A R ...
Joplin, MO
Kalam azoo-P ortage, M l......................................
K ankakee-Bradley, IL ..........................................
K ansas City, M O -K S ............................................
K ennew ick-R ichland-Pasco , W A ......................
K illeen-T em ple-F ort H ood, T X ..........................
K ing spo rt-B risto l-B risto l, T N -V A .......................
K in gston, N Y .........................................................
Knoxville, T N .........................................................
See the footnotes at the end of the table.
2,481
2,716
6,486
70,028
15,384
121,881
2,417
2,980
2,176
5,394
15,642
3,056
2,232
2,564
6,017
1,651
10,821
5,465
6,288
8,128
2,546
4,587
2,166
9,242
8,740
2,303
7,690
3,740
2,060
1,989
5,999
4,659
5,007
9,378
14,820
1,412
5,569
2,999
2,215
1,968
2,114
2,303
18,520
1,564
3,434
7,690
16,010
2,933
13,165
5,264
4,392
2,203
16,170
2,333
39,732
2,130
6,295
2,064
5,483
25,486
1,301
3,647
140,636
4,820
10,982
2,039
44,701
3,701
2,386
2,819
10,993
2,552
31,071
4,117
3,077
3,169
3,079
2,260
1,818
2,938
6,781
1,741
50,810
4,789
8,191
5,304
2,516
14,847
At regional
price
parities
3,417
3,755
7,395
71,206
15,465
122,378
3,443
3,346
2,618
7,055
15,551
3,590
2,397
3,062
6,784
2,003
14,071
6,699
6,702
10,078
2,434
5,237
3,045
10,540
10,108
2,684
9,080
4,917
2,804
2,233
5,789
6,397
5,731
10,989
14,851
2,144
6,295
3,252
2,434
2,493
2,575
2,686
19,403
1,845
3,582
8,008
17,963
3,528
15,333
6,327
5,213
2,393
17,465
2,957
35,376
2,849
8,348
2,510
5,486
18,746
1,851
5,173
142,574
7,068
12,962
2,559
46,447
3,935
2,539
3,063
12,299
3,116
32,301
4,906
3,302
3,994
4,349
3,392
2,433
4,033
7,488
2,032
58,028
5,171
9,441
7,845
2,356
18,631
2006
Per capita
personal incom e
Regional
price parity
72.6
72.3
87.7
98.3
99.5
99.6
70.2
89.1
83.1
76.5
100.6
85.1
93.1
83.7
88.7
82.4
76.9
81.6
93.8
80.7
104.6
87.6
71.1
87.7
86.5
85.8
84.7
76.1
73.5
89.1
103.6
72.8
87.4
85.3
99.8
65.9
88.5
92.2
91.0
78.9
82.1
85.7
95.4
84.8
95.9
96.0
89.1
83.1
85.9
83.2
84.2
92.1
92.6
78.9
112.3
74.8
75.4
82.2
100.0
136.0
70.3
70.5
98.6
68.2
84.7
79.7
96.2
94.1
94.0
92.0
89.4
81.9
96.2
83.9
93.2
79.4
70.8
66.6
74.7
72.8
90.6
85.7
87.6
92.6
86.8
67.6
106.8
79.7
A t current
national
prices
29,401
32,649
28,329
42,476
37,650
37,204
28,701
27,881
30,462
29,515
34,775
28,519
22,074
29,500
31,826
27,567
24,081
27,520
29,209
32,612
32,001
33,108
24,675
31,110
28,694
28,008
27,602
27,641
25,741
31,745
33,886
26,376
35,023
30,813
26,052
26,071
29,663
27,458
28,282
25,797
28,992
28,917
31,966
29,647
25,183
32,503
31,138
27,030
29,715
25,101
29,071
21,609
34,992
26,329
42,782
24,800
27,034
21,844
30,995
3 7,343
28,592
26,764
40,734
25,652
32,949
2 8,879
36,160
32,706
28,088
27,370
30,977
28,260
35,439
30,619
28,467
2 9,363
25,709
26,347
2 4,640
25,647
30,581
26,840
35,839
28,387
2 9,734
26,830
30,367
30,713
A t regional
price
parities
35,762
42,136
30,197
42,974
37,805
37,314
36,256
30,424
35,320
35,571
34,577
31,972
23,146
34,011
35,790
31,546
28,644
31,941
30,440
38,222
30,817
36,600
31,878
34,869
32,042
31,068
30,765
33,622
30,983
34,224
33,128
32,522
3 8,970
34,809
26,088
33,210
32,592
28,990
29,993
30,427
33,727
31,873
33,114
33,079
25,838
33,575
34,032
30,652
33,389
29,237
32,361
22,929
37,480
31,786
39,094
30,251
32,832
27,884
31,005
29,871
34,485
34,483
41,098
33,552
38,308
33,522
37,221
34,344
29,613
28,871
33,479
33,351
36,423
35,558
29,905
35,109
32,430
34,053
30,101
32,244
32,783
29,541
39,559
30,135
33,259
35,288
29,486
36,464
Per capita GDP
At current
national
prices
32,235
43,408
22,821
55,592
59,476
44,068
31,219
36,913
41,953
31,314
56,613
33,947
22,351
36,111
48,482
27,906
30,851
29,590
31,016
42,174
42,339
45,436
51,939
36,931
37,640
29,930
27,037
32,137
24,159
34,831
35,187
32,837
49,121
38,474
28,693
23,248
33,175
34,148
26,325
29,341
32,997
29,211
40,871
29,457
27,607
44,610
44,403
29,904
37,701
33,543
28,375
22,580
47,369
40,492
56,722
28,997
32,112
33,270
36,358
45,553
24,832
33,726
59,407
27,571
43,442
30,972
53,256
41,847
32,616
28,756
38,345
38,171
42,081
32,968
29,149
35,689
27,846
23,613
29,794
29,719
33,179
24,920
46,894
33,555
30,928
28,188
22,565
39,994
A t regional
price
parities
38,596
52,895
24,688
56,090
59,630
44,178
38,775
39,456
46,811
37,369
56,415
37,401
23,423
40,622
52,446
31,885
35,413
34,011
32,248
47,784
41,155
48,928
59,142
40,691
40,988
32,989
30,200
38,118
29,401
37,310
34,429
38,983
53,067
42,470
28,729
30,387
36,104
35,680
28,036
33,971
C om pensation of
em p lo ye e s1
(m illions o f dollars)
A t current
national
prices
2,579
2,795
6,913
74,839
16,402
120,936
2,539
3,118
2,273
5,619
16,944
37,733
32,168
42,019
32,889
28,262
45,682
47,297
33,527
41,375
37,680
31,664
23,899
49,857
3,240
2,366
2,785
6,164
1,724
11,723
5,661
6,623
8,477
2,797
4,896
2,397
9,881
9,328
2,487
7,869
3,962
2,161
2,038
6,312
4,961
5,279
9,777
15,769
1,449
5,936
3,226
2,305
2,055
2,206
2,544
19,067
1,679
3,728
7,973
16,826
3,128
13,900
5,299
4,654
2,431
16,746
45,948
53,034
34,447
37,910
39,309
36,368
38,082
30,725
41,445
59,771
35,470
48,802
35,614
54,317
43,485
34,141
30,257
40,847
43,262
43,066
37,906
30,587
41,434
34,566
31,318
35,256
36,315
35,381
27,621
50,614
35,303
34,454
36,647
21,684
45,745
2,493
41,287
2,366
6,587
2,193
5,534
27,098
1,368
4,396
154,830
5,045
11,823
2,216
47,034
3,903
2,500
2,824
11,693
2,654
33,727
4,383
3,363
3,258
3,232
2,353
1,878
3,110
6,964
1,810
53,637
4,853
9,191
5,624
2,768
15,784
At regional
price
parities
3,542
3,927
7,588
75,096
16,291
123,417
3,545
3,713
2,762
7,550
17,101
3,801
2,524
3,464
7,273
2,128
15,096
6,936
7,322
10,959
2,501
5,138
3,228
11,632
10,626
2,879
9,920
5,282
2,874
2,303
6,368
6,702
5,740
11,783
16,227
2,187
6,461
3,640
2,523
2,721
2,658
3,148
20,189
1,957
3,792
8,497
Per capita
personal incom e
R egional
price parity
72.8
71.2
91.1
99.7
100.7
98.0
71.6
84.0
82.3
74.4
99.1
85.2
93.7
80.4
84.8
81.0
77.7
81.6
90.5
77.4
111.9
95.3
74.3
84.9
87.8
86.4
79.3
75.0
75.2
88.5
99.1
74.0
92.0
83.0
97.2
66.2
91.9
88.6
91.4
75.5
83.0
80.8
94.4
19,395
3,802
15,993
6,040
5,469
2,717
17,977
85.8
98.3
93.8
86.8
82.3
86.9
87.7
85.1
89.5
93.2
3,296
36,865
2,945
8,887
2,745
5,675
19,022
1,831
5,937
152,850
7,128
13,503
2,738
50,555
4,052
2,658
3,132
12,617
3,236
34,871
5,521
3,594
4,117
75.6
112.0
80.3
74.1
79.9
97.5
142.5
74.7
74.0
101.3
70.8
87.6
80.9
93.0
96.3
94.1
90.2
92.7
82.0
96.7
79.4
93.6
79.1
4,698
3,505
2,580
4,442
7,848
2,166
61,020
5,592
10,448
8,783
2,564
18,925
68.8
67.1
72.8
70.0
88.7
83.5
87.9
86.8
88.0
64.0
108.0
83.4
A t current
national
prices
30,683
3 4,133
2 9,615
44,691
39,418
38,119
30,147
28,616
31,959
31,152
36,693
29,837
22,769
31,524
32,723
29,320
24,977
28,767
30,825
34,378
34,722
34,639
27,155
32,817
29,807
29,879
28,803
29,328
27,025
32,923
35,397
27,985
37,497
32,127
27,081
27,194
30,971
28,110
29,799
27,417
30,093
30,746
33,172
31,740
26,002
33,627
32,539
28,280
30,998
31,171
30,289
22,771
36,395
27,120
44,835
26,469
28,500
23,510
32,122
39,653
30,400
31,562
43,174
27,145
34,689
30,396
37,735
34,272
29,857
28,100
32,287
29,066
37,519
31,942
30,356
30,325
26,735
27,733
25,705
26,601
31,896
27,718
37,566
28,735
32,575
28,222
32,811
32,132
A t regional
price
parities
37,187
44,516
30,977
44,798
39,210
38,670
37,462
32,635
37,305
38,201
37,029
33,430
23,774
37,654
38,365
33,904
29,627
33,327
32,881
41,497
31,594
3 5,914
3 3,977
3 7,839
3 2,873
3 2,990
33,487
36,002
3 2,027
3 5,604
35,596
34,061
40,018
37,062
27,598
34,367
33,044
30,510
31,493
33,325
34,716
35,252
34,625
35,136
26,274
35,384
36,278
32,269
34,484
34,431
33,470
24,724
38,740
34,048
41,104
30,748
34,942
31,216
32,672
3 0,747
35,260
39,230
42,815
34,468
39,133
34,919
39,843
35,304
31,429
29,989
34,028
34,251
38,413
38,966
31,818
36,258
34,394
35,623
31,826
3 4,507
34,638
30,983
41,329
32,038
36,090
38,692
31,687
3 6,818
Per cap ita G DP
At current
national
prices
A t regional
p rice
parities
32,529
42,848
23,996
57,748
60,196
4 4,214
31,562
39,034
53,231
25,358
57,855
5 9,987
4 4,766
38,877
37,416
43,626
33,947
60,686
35,151
23,168
37,789
48,492
28,802
32,431
31,313
31,641
43,106
48,611
46,144
53,654
38,664
37,798
31,974
27,537
32,957
25,198
34,719
35,786
32,945
51,015
39,283
30,009
2 3,623
35,063
32,743
26,744
30,783
34,193
31,088
41,519
31,629
27,542
44,621
46,064
30,229
38,015
38,499
29,134
24,864
48,479
41,497
58,864
31,394
32,768
37,368
35,421
48,638
26,336
42,893
62,442
30,574
45,160
30,899
53,638
4 1,567
33,734
28,856
40,238
38,843
45,256
34,948
3 1,230
3 6,243
28,301
24,716
3 0,225
29,936
34,006
25,222
47,886
33,533
34,633
28,981
24,280
41,156
41,435
48,972
40,995
61,022
38,745
24,173
43,918
54,134
33,386
37,080
35,874
33,697
50,225
45,483
47,419
60,477
43,685
40,864
35,085
32,221
39,631
30,201
37,401
35 ,984
39,022
53,536
4 4 ,218
30,525
3 0,797
3 7,136
35,144
28,438
36,691
38,817
35,594
42,971
35,024
27,814
46,379
49,803
34,218
41,501
41,758
32,315
26,817
50,825
48,425
55,133
35,674
39,209
45,075
35,971
39,732
3 1,197
5 0,560
62,083
37,897
4 9,604
3 5,422
5 5,745
4 2,600
3 5,306
30,745
4 1,979
4 4,029
4 6,150
41,972
32,692
42,176
35,960
32,607
36,345
37,842
36,747
2 8,488
5 1,649
36,837
3 8,148
39,452
23,156
45,842
72
R esearch
S p o tlig h t
N ovem ber
2008
Table 3. Per Capita Personal Income and Per Capita Gross Domestic Product (GDP) Adjusted by Regional Price Parities by Metropolitan Area—Continues
2005
A rea
C om pensation of
em p lo ye e s1
(m illions of dollars)
A t current
national
prices
Kokomo, I N ............................................................
La Crosse, W I-M N ...............................................
Lafayette, IN ...........................................................
Lafayette, L A ..........................................................
Lake C harles, L A ..................................................
Lake Havasu C ity-K ingm an, A Z ........................
Lakeland, F L ..........................................................
Lancaster, PA..................
Lansing-E ast Lansing, M l..................................
Laredo, T X .......................
Las C ruces, N M ....................................................
Las V egas-Paradise, N V .....................................
Lawrence, K S .................
Lawton, O K .....................
Lebanon, P A ...................
Lew iston, ID -W A ............
Lew iston-A uburn, M E ...
Lexington-Fayette, K Y .........................................
Lim a, O H ................................................................
Lincoln, N E ............................................................
Little R ock-N orth Little Rock-Conway, AR
Logan, UT-ID..........................................................
Longview, T X .........................................................
Longview, W A ........................................................
Los Angeles-Long B each-S anta Ana, CA
Louisville-Jefferson County, K Y -IN ...................
Lubbock, T X ..........................................................
Lynchburg, V A ........................................................
Macon, GA
M adera, C A ...........................................................
M adison, W l...........................................................
M anchester-N ashua, N H ...................................
M ansfield, O H ........................................................
M cA lle n-E d in bu rg-M ission , T X .........................
M edford, O R ..........................................................
M em phis, T N -M S -A R .........................................
M erced, C A ............................................................
M iam i-F ort La ud erdale-P om pa no Beach, FL.
M ichigan C ity-L a Porte, IN .................................
M idland, T X ...........................................................
M ilw aukee-W aukesha-W est Allis, W l..............
M inneapolis-S t. P aul-B loom ington, M N -W I...
M issoula, M T .........................................................
M obile, A L
M odesto, C A ..........................................................
M onroe, L A ............................................................
M onroe, M l ............................................................
Montgom ery, A L ...................................................
M organtow n, W V ..................................................
M orristow n, T N .....................................................
M ount Vernon-A nacortes, W A ..........................
M uncie, I N .............................................................
M uskegon-N orton Shores, M l...........................
M yrtle Beach -C o nw ay-N o rth M yrtle B each,
S C .......................................................................
N apa, C A .........................
N aples-M arco Island, F L ...................................
N ash ville -D avidson-M urfreesboro-F ranklin,
T N ........................................................................
New H aven-M ilford, C T .......................................
N ew O rleans-M etairie-K enner, L A ...................
N ew York-N orthern New Jersey-Long Island,
NY-N J-PA...........................................................
N iles-B enton Harbor, M l.....................................
N orw ich-N ew London, C T .................................
O cala, F L ................................................................
O cean City, N J ......................................................
O dessa, T X .......
O g de n-C learfield, U T ..........................................
O klahom a City, O K ..............................................
Olym pia, W A
.
O m aha-C ouncil Bluffs, N E -IA ...........................
O rla nd o -K issim m ee , F L ......................................
O shkosh-N eenah, W l .........................................
O w ensboro, K Y .....................................................
O xnard-T housand O aks-Ventura, C A .............
Palm Bay-M e lb ou rne -T itusville, F L ..................
Palm C oast, F L .....................................................
Panam a C ity-Lynn Haven, F L ...........................
P ark e rsburg-M arietta-V ienna, W V -O H ............
P ascagoula, M S ....................................................
P ensacola-Ferry Pass-Brent, F L ......................
Peoria, I L ................................................................
P hila de lp h ia -C a m d en -W ilm in g ton , PA-NJD E -M D ................................................................
P hoen ix-M esa -S co ttsd ale , A Z ..........................
Pine Bluff, A R ........................................................
Pittsburgh, P A ........................................................
Pittsfield, M A ..........................................................
See the footnotes at the end of the table.
A t regional
price
parities
Per capita
personal incom e
Regional
price parity
At current
national
prices
1,708
342,803
28,531
4,725
4,214
4,345
1,735
16,283
11,578
2,514
6,644
3,307
31,531
2,821
122,333
1,877
2,895
3,333
3,237
4,472
6,911
5,443
2,489
10,568
10,938
11,100
3,635
3,529
43,936
1,965
3,055
2,407
1,305
2,187
12,793
3,109
7,668
17,379
2,126
5,219
1,926
263,570
31,308
5,799
5,812
5,433
1,782
15,412
9,431
3,277
9,762
3,641
33,592
2,738
112,244
2,218
3,478
84.4
88.5
89.0
85.4
72.6
76.6
83.1
95.9
95.9
82.2
72.1
100.5
94.6
80.3
80.3
78.4
89.3
90.3
77.6
90.7
87.6
79.9
71.2
88.7
130.1
91.1
42,900
101,909
2,165
7,673
8,003
2,915
2,291
7,967
2,398
2,045
2,057
2,032
2,839
46,859
96,224
2,402
9,371
7,392
3,759
2,380
9,790
3,393
2,507
2,058
2,599
3,250
91.6
105.9
90.1
81.9
108.3
77.6
96.3
81.4
70.7
81.6
100.0
78.2
87.4
30,123
19,342
23,216
36,893
27,659
28,055
31,311
27,781
29,483
33,922
27,719
32,526
33,289
21,906
29,862
25,914
37,441
34,162
27,529
28,556
29,522
22,429
38,281
39,287
26,749
16,738
30,133
34,052
22,995
38,342
27,005
42,615
37,361
42,457
30,101
25,211
26,995
27,405
31,029
31,356
28,203
24,312
31,962
26,535
25,626
4,013
3,619
6,524
4,890
2,646
6,021
82.1
136.8
108.4
36,480
20,979
2 6,915
38,916
17,122
30,293
597,444
2,975
7,803
3,940
1,778
2,296
8,434
24,806
4,533
21,472
47,381
4,478
2,009
19,139
10,694
699
3,384
2,964
2,710
7,818
9,214
162,937
89,825
1,687
55,648
2,873
2,812
2,866
3,980
5,903
3,951
1,907
8,787
10,494
10,642
2,986
2,546
44,166
1,859
2,453
1,932
1,023
1,953
11,557
2,413
6,955
15,227
1,698
3,717
2006
81.5
72.5
80.0
97.4
105.6
122.8
76.7
68.1
90.8
93.9
103.0
109.0
84.6
83.2
30,545
30,050
27,084
31,408
23,363
22,345
29,625
32,422
At regional
price
parities
35,727
32,919
29,725
35,480
31,050
25,486
32,930
33,330
31,125
22,264
28,396
36,758
28,615
33,430
35,113
32,563
31,682
36,777
34,313
35,028
36,622
25,573
37,381
28,175
31,287
36,459
31,629
35,346
34,296
22,763
36,672
33,906
32,748
21,394
31,852
35,695
22,648
36,469
30,132
47,451
Per capita GDP
At current
national
prices
At regional
price
parities
36,179
37,133
37,193
50,741
60,581
17,648
26,826
35,701
36,736
23,081
22,371
47,312
29,147
30,122
25,040
27,044
30,380
46,190
37,811
42,714
40,994
21,595
37,336
27,426
49,186
41,418
31,102
31,454
32,043
21,904
53,887
46,651
30,203
16,502
30,772
45,171
41,361
40,003
39,834
22,016
43,006
28,722
54,813
68,268
20,789
30,131
36,609
37,738
26,003
27,551
47,177
30,103
35,497
28,842
31,826
32,579
49,045
44,406
45,216
44,327
25,261
44,855
29,687
43,032
43,715
35,202
38.244
36,817
22,239
52,278
41,270
36,203
21,158
32,491
46,814
39,940
40,645
32,420
29,475
25,775
32,337
31,615
36,472
36,768
27,869
31,968
31,393
27,986
63,813
47,743
54,565
38,732
32,093
27,700
32,960
24,792
36,772
36,845
26,275
40,981
27,485
25,996
21,668
41,133
31,848
68,649
50,322
52,753
41,052
36,356
26,480
37,892
25,378
41,889
45,411
29,832
40,988
32,343
28,356
26,745
45,223
54,166
30,584
37,765
52,526
37,244
49,184
44,706
93.7
122.5
88.8
36,056
39,354
19,926
37,736
34,772
22,505
417,240
3,613
6,972
5,051
1,661
3,287
9,435
28,565
4,636
22,051
47,181
4,860
2,621
14,783
11,692
769
4,082
4,059
3,298
9,234
10,782
143.2
82.3
111.9
78.0
107.0
69.9
89.4
86.8
97.8
97.4
100.4
92.1
76.6
129.5
91.5
90.9
82.9
73.0
82.2
84.7
85.5
46,221
29,361
39,181
27,720
39,059
26,115
28,148
33,243
3 4,204
37,869
31,828
32,572
28,046
40,845
32,314
28,474
30,378
26,643
25,248
28,267
33,540
148,402
86,846
2,253
63,666
3,171
109.8
103.4
74.9
87.4
90.6
40,948
32,660
23,456
36,159
36,614
C om pensation of
em p lo ye e s'
(m illions of dollars)
At current
national
prices
2,863
3,013
4,049
6,739
4,176
2,086
9,360
10,827
11,186
3,160
2,733
47,837
1,956
2,780
2,060
1,081
2,049
12,157
2,463
7,246
16,125
1,794
4,116
1,786
362,730
30,034
5,053
4,482
4,435
1,899
17,103
12,046
2,539
7,219
3,470
33,226
2,985
130,139
1,906
3,379
45,205
106,078
2,290
8,396
8,269
3,066
2,384
At regional
price
parities
Per capita
personal incom e
R egional
price parity
A t current
national
prices
3,629
3,487
4,766
7,895
5,633
2,840
11,140
11,125
12,126
3,668
78.9
86.4
85.0
85.4
74.1
73.4
84.0
97.3
92.2
86.1
31,949
31,594
27,724
34,250
30,224
23,548
31,018
33,556
31,848
20,127
3,646
4 6,788
2,116
3,493
2,506
1,408
2,295
13,386
3,241
8,011
17,971
2,305
5,619
2,011
268,343
32,794
75.0
102.2
92.4
24,293
38,281
29,137
31,065
32,495
29,152
30,275
35,487
28,793
33,887
3 5,070
22,663
32,178
26,781
39,880
36,000
28,834
29,661
30,757
22,580
40,088
4 1,368
27,575
17,409
31,785
35,470
23,182
40,737
6,095
6,300
5,702
2,033
15,653
9,939
3,177
10,364
3,866
34,537
3,058
118,324
2,371
3,938
48,341
106,358
2,626
9,976
7,429
3,894
2,579
79.6
82.2
76.8
89.3
90.8
76.0
90.4
89.7
77.8
73.3
88.8
135.2
91.6
82.9
71.1
77.8
93.4
109.3
121.2
79.9
69.7
89.8
96.2
97.6
110.0
80.4
At regional
price
parities
39,607
35,241
31,509
38,788
37,847
27,484
34,207
34,160
33,906
22,362
28,999
37,691
30,557
39,536
44,237
31,535
27,360
27,811
28,511
32,521
32,987
30,011
25,019
33,825
27,735
2 6,560
37,409
36,021
34,636
32,577
38,274
36,185
36,540
37,879
26,975
39,627
29,059
32,544
38,262
32,769
37,254
36,288
23,511
37,442
36,115
32,627
2 1,970
33,796
36,501
23,486
38,555
32,415
53,172
41,572
44,326
34,770
31,289
26,154
33,309
33,795
36,757
36,270
28,281
35,085
34,398
29,902
28,158
48,644
Per c apita G DP
A t c urrent
national
prices
37,330
36,999
34,652
60,352
72,174
18,731
27,620
35,972
38,112
23,901
22,713
51,410
28,708
34,257
25,489
28,151
31,627
48,082
3 9,107
43,396
43,313
22,353
40,774
27,418
52,963
43,373
31,539
31,982
31,990
21,944
54,902
4 7,356
3 0,003
17,393
31,157
47,521
22,176
45,934
28,722
70,347
At regional
price
pa rities
44,988
40,646
38,437
64,890
79,797
22,668
30,809
36,576
40,170
26,136
27,418
50,820
30,128
40,600
29,016
33,635
33,929
50,870
46,498
46,049
46,121
26,665
48,224
29,696
45,627
45,635
35,473
39,575
37,521
22,875
52,256
4 2.1 0 3
35,055
2 1,955
33,167
48,552
22,480
43,752
32,978
74,874
8,528
2,570
2,106
2,193
2,020
2,921
9,896
3,303
2,537
2,337
2,791
3,503
85.8
93.5
99.7
87.2
84.2
111.3
78.7
92.4
86.2
77.8
83.0
93.8
72.4
83.4
41,083
41,725
43,066
4,440
3,770
6,955
5,404
2,853
6,129
82.2
132.2
113.5
27,809
47,491
57,446
31,827
40,511
54,807
37,675
50,547
4 6,404
4 1,693
43 ,568
43,765
47,298
40,717
47,254
48,977
36,135
49,833
39,490
21,734
26,600
40,860
18,920
27,316
96.6
114.9
97.4
37,758
41,454
40,211
38,680
38,118
4 0,935
49,414
42,671
67,014
50,335
39,335
67,737
36,614
33,344
36,049
31,402
37,874
34,074
30,183
36,494
34,656
38,582
31,725
34,962
33,569
35,337
34,208
29,400
34,698
33,411
29,035
31,447
37,808
57,117
30,518
43,441
22,137
40,764
33,305
27,899
40,316
31,164
48,739
46,051
42,152
640,156
3,084
8,049
4,319
1,809
2,711
9,162
27,050
4,876
22,900
50,716
4,592
2,116
19,812
11,287
767
3,651
3,105
2,753
8,453
9,981
441,274
3,903
7,238
5,405
1,693
3,847
10,546
30,013
4,938
23,373
48,723
5,066
2,858
14,447
11,434
818
4,263
4,222
3,265
9,813
12,235
145.1
79.0
111.2
79.9
106.8
70.5
86.9
90.1
98.7
98.0
104.1
90.6
74.0
137.1
98.7
93.8
85.6
73.6
84.3
86.1
81.6
49,789
31,017
4 0,300
29,012
4 1,068
28,989
29,650
35,637
35,903
40,106
33,092
33,874
29,226
4 2,746
34,081
29,001
32,081
28,285
28,156
29,880
35,887
39,201
3 6,150
37,274
32,467
39,883
37,964
32,396
38,156
36,170
40,682
32,095
36,817
35,893
35,989
34,357
29,619
35,810
35,217
31,576
32,895
41,99 7
61,107
31,652
46,813
23,266
40,478
37,753
29,704
33,269
40,636
30,286
30,025
34,880
30,368
25,036
26,886
39,243
47,510
34,501
40,309
25,819
39,579
41,264
29,934
43,567
31,615
49,452
45,948
44,541
38,791
35,128
32,180
30,950
39,200
37,136
28,824
30,066
43,511
4 2,888
35,921
43,095
31,775
17,196
37,021
32,459
30,761
28,831
42,325
50,518
36,785
43,787
26,721
39,294
46,728
32,450
45,285
32,900
51,209
47,630
45,831
42,587
36,338
32,051
17,815
40,751
39,391
34,182
31,846
4 8,436
38,438
31,893
28,912
39,535
38,891
50,900
41,388
26,292
42,945
40,872
48,391
4 0,620
31,748
46,321
43,149
171,554
156,223
97,341
109.8
101.7
74.0
88.7
88.6
43,364
34,215
24,838
38,550
38,774
4 0,725
33,809
30,761
41,716
41,722
53,320
4 4,657
26,976
44,935
40,309
50,682
44,251
32,900
48,101
43,258
98,983
1,737
58,478
2,974
2,346
65,962
3,358
50,254
56,434
40,366
34,478
28,268
35,050
25,192
38,071
39,726
25,929
39,040
27,141
26,785
52,290
56,522
43,601
38,407
26,611
39,848
26,466
41,841
45,985
29,191
40,300
33,803
30,127
42,765
32,633
50,633
48,627
November 2008
Survey of Current Business
73
Table 3. Per Capita Personal Income and Per Capita Gross Domestic Product (GDP) Adjusted by Regional Price Parities by Metropolitan Area—Continues
2006
2005
Area
C om pensation of
e m p lo ye e s1
(m illions of dollars)
A t current
national
prices
Pocatello, I D ..........................................................
P ortland-S outh Portland-B iddeford, ME
Portland-Vancouver-B eaverton, O R -W A ,
Port St. Lucie, F L ..................................................
P oughkeepsie-N ew burgh-M iddletow n, N Y ....
Prescott, A Z ...........................................................
P rovidence-N ew B edford-Fall River, R I-M A...
Provo-O rem , U T ...................................................
Pueblo, C O ............................................................
P unta G orda, F L ...................................................
Racine, W l.............................................................
R aleigh-Cary, N C ..................................................
R apid City, S D ......................................................
Reading, PA
R edding, C A ..........................................................
R eno-Sparks, N V ................................................
R ichm ond, V A .......................................................
R iverside-San B ernardino-O ntario, CA
R oanoke, V A ..........................................................
R ochester, M N ......................................................
Rochester, N Y ...
Rockford, IL
.....................................................
R ocky M ount, N C ................................................
Rome, G A ...............................................................
Sacram ento-A rden-A rcade -R o seville, CA
S aginaw -S aginaw Township N orth, M l...........
St. Clo ud, M N ........................................................
St. G eorge, U T .....................................................
St. Joseph, M O-KS
St. Louis, M O -IL
S alem , OR
Salinas, C A .......
Salisbury, M D ....
S alt Lake City, U T ................................................
S an Angelo, TX
S an A ntonio, T X ...................................................
S an D ieg o-C arlsb a d-S an M arcos, C A ............
Sandusky, O H ........................................................
San F rancisco-O akland-F rem ont, C A .............
San Jose -S un nyva le -S an ta Clara, C A ..........
S an Luis O bispo-P aso R obles, C A ..................
S anta B a rbara-S anta M aria-G oleta, CA
S anta C ruz-W atsonville, C A .............................
S anta Fe, N M ........................................................
S anta R osa-P etalum a, C A ................................
S arasota-B radenton -V enice, F L ......................
S avannah, G A ......................................................
S cranton-W ilkes-B arre, P A ................................
Seattle-Tacom a-Bellevue, W A ..........................
S ebastian-V ero Beach, F L .................................
Sheboygan, W l.....................................................
Sherm an-D enison, T X ........................................
S hreveport-B ossier City, L A ...............................
S ioux City, IA -N E -S D ...........................................
See the footnotes at the end of the table.
1,440
12,393
52,423
5,602
12,694
2,224
34,689
6,525
2,175
1,711
3,854
23,589
2,476
7,874
2,840
10,598
32,386
59,846
6,937
5,308
24,753
7,055
2,593
1,867
51,426
4,357
3,944
1,620
2,116
69,876
6,487
8,749
2,227
27,847
1,914
37,877
82,957
1,680
152,574
80,509
4,667
9,907
4,804
2,751
10,176
12,655
6,946
10,658
103,191
2,101
2,821
1,805
7,655
2,916
At regional
price
parities
1,834
11,590
51,217
6,023
9,608
2,683
30,925
7,640
2,660
2,011
4,283
22,135
2,927
8,331
2,877
10,163
33,396
55,279
8,825
5,570
25,069
7,410
3,341
2,637
42,498
5,289
4,393
2,070
2,902
79,210
7,088
6,815
2,665
29,628
2,486
4 2,218
67,702
2,001
108,321
53,492
3,841
7,786
3,449
2,760
7,453
13,358
7,652
13,271
91,996
2,383
2,981
2,244
9,921
3,586
Per capita
personal incom e
Regional
p rice parity
78.5
106.9
102.4
93.0
132.1
82,9
112.2
85.4
81.8
85.1
90.0
106.6
84.6
94.5
98.7
104.3
97.0
108.3
78.6
95.3
98.7
95.2
77.6
70.8
121.0
82.4
89.8
78.3
72.9
88.2
91.5
128.4
83.6
94.0
77.0
89.7
122.5
83.9
140.9
150.5
121.5
127.2
139.3
99.7
136.5
94.7
90.8
80.3
112.2
88.2
94.6
80.4
77.2
81.3
At current
national
prices
24,358
35,425
34,921
36,086
34,164
25,460
35,412
21,127
25,438
30,886
33,404
35,585
32,287
31,617
2 9,010
4 2,219
37,082
26,818
32,308
36,886
34,294
28,311
27,004
28,705
35,318
2 7,246
28,741
23,353
26,345
35,991
27,699
36,137
28,016
33,469
28,519
31,189
40.383
33,171
54,191
51,277
33,959
40,968
42,017
39,522
40,821
43,700
32,730
30,476
42,356
50,369
33,861
26,046
30,543
29,444
A t regional
price
parities
28,937
33,855
34,345
37,206
29,509
27,781
33,075
23,531
28,672
32,844
35,621
34,064
36,104
32,778
29,219
41,118
37,942
25,642
38,768
38,373
34,600
29,355
32,201
36,879
30,937
31,757
31,214
27,129
32,806
39,354
29,311
31,405
31,791
35,167
33,872
33,494
35,197
37,298
43,518
35,871
30,762
35,703
36,605
39,585
34,948
44,751
34,974
35,238
38,864
52,593
35,264
29,835
36,478
34,190
Per capita G DP
A t current
national
prices
27,504
4 3,332
45,617
2 7,144
28,847
19,875
36,855
24,217
22,610
21,301
33,043
45,385
35,643
32,859
28,518
46,465
47,286
26,160
39,061
45,315
40,545
32,028
38,346
32,683
41,599
31,258
37,540
24,110
28,864
41,853
29,884
40,175
29,827
48,244
29,491
35,567
49,719
37,385
64,663
7 0,276
36,483
43,058
36,537
42,599
39,865
34,512
34,727
31,056
56,800
30,852
43,125
24,635
46,958
36,402
A t regional
price
parities
32,082
41,762
45,041
28,263
24,192
22,196
34,517
26,621
25,845
23,259
35,260
43,863
39,460
34,020
28,728
45,364
48,145
24,984
45,522
46,802
40,851
33,071
43,543
40,857
37,219
35,769
40,013
27,885
35,325
45,216
31,495
35,444
33,601
49,942
34,843
37,872
44,533
41,511
53,991
54,870
33,285
37,792
31,125
42,663
33,992
35,563
36,971
35,818
53,308
33,076
44,528
28,425
52,893
41,148
C om pensation of
e m p lo ye e s1
(m illions of dollars)
A t current
national
prices
1,510
12,911
56,046
6,032
13,193
2,486
36,246
7,263
2,284
1,860
3,982
25,796
2,591
8,491
3,002
11,239
33,925
64,546
7,301
5,577
25,516
7,519
2,661
1,955
54,482
4,473
4,181
1,884
2,278
72,735
6,935
9,160
2,354
30,384
1,982
41,209
87,584
1,693
161,174
87,315
4,954
10,209
5,188
2,976
10,645
13,632
7,574
10,962
112,425
2,249
2,902
1,908
8,138
2,995
At regional
price
parities
1,944
11,988
54,524
6,100
10,060
3,015
32,475
8,478
2,897
2,049
4,409
23,660
2,781
8,782
3,275
10,950
35,179
56,173
9,656
5,964
26,431
8,143
3,503
2,775
45,554
5,655
4,818
2,360
3,115
83,800
7,727
7,508
2,991
32,794
2,555
45,281
71,535
2,067
113,449
57,994
4,292
8,295
3,699
2,911
8,188
13,859
8,680
13,574
99,631
2,397
3,225
2,223
10,106
3,679
Per capita
personal incom e
Regional
price parity
77.6
107.7
102.8
98.9
131.1
82.5
111.6
85.7
78.8
90.8
90.3
109.0
93.2
96.7
91.7
102.6
96.4
114.9
75.6
93.5
96.5
92.3
75.9
70.4
119.6
79.1
86.8
79.8
73.1
86.8
89.7
122.0
78.7
92.7
77.6
91.0
122.4
81.9
142.1
150.6
115.4
123.1
140.2
102.2
130.0
98.4
87.3
80.8
112.8
93.8
90.0
85.8
80.5
81.4
A t current
national
prices
25,490
37,000
36,845
37,937
36,164
26,786
37,040
22,187
26,363
33,510
35,209
37,221
33,498
33,432
30,762
4 4,337
38,233
27,936
33,693
38,341
3 6,179
29,502
28,071
29,730
37,078
28,550
29,864
24,248
28,032
37,652
29,107
38,373
28,737
35,145
29,680
32,810
42,801
34,292
57,747
5 5,020
35,872
43,510
4 5,194
42,363
43,318
46,486
34,563
32,002
45,369
54,045
35,419
27,591
31,941
30,450
A t regional
price
parities
30,478
35,198
36,131
38,110
31,463
29,342
34,690
24,714
30,396
34,744
37,403
35,087
35,094
34,161
32,292
43,620
39,282
25,840
41,691
40,506
37,066
31,311
33,900
3 8,357
32,750
34,322
33,339
27,985
3 4,885
41,613
3 1,193
34,306
34,121
37,381
35,003
34,913
37,358
39,109
46,287
38,505
33,327
38,750
39,253
41,901
38,008
46,820
38,003
36,765
41,448
55,186
38,256
3 0,286
37,025
35,267
Per c apita G DP
A t current
national
prices
A t regional
price
parities
26,306
45,006
48,591
28,523
29,308
21,111
38,801
24,998
23,000
22,700
33,587
47,583
37,046
34,538
30,080
46,884
48,074
27,666
40,374
45,833
41,696
33,233
35,728
31,930
44,335
32,104
38,257
25,900
30,512
42,248
29,775
43,420
30,947
52,131
29,808
37,456
53,275
38,108
70.098
76,024
38,901
45,627
31 ,294
4 3,204
4 7,878
28,696
24,607
23,667
36,450
27,525
27,032
23,933
35,781
45,448
38,642
35,267
38,669
44,969
42,075
36,322
37,879
32,350
60,416
32,085
42,444
25,576
51,149
38,252
3 2,728
44,507
36,765
36,655
41,319
37,113
56,495
33,226
45,281
28,271
56,232
43,069
31,610
46,167
49,123
25,570
48,371
47,998
4 2,584
35,043
41,557
40,556
4 0,007
37,876
41,731
29,637
37,365
46,209
31,861
39 ,354
36,331
54 ,367
35,131
39,558
47,832
42 ,925
58 ,638
59,510
3 6,356
40,867
74
R esearch
S p o tlig h t
N ovem ber
2008
Table 3. Per Capita Personal Income and Per Capita Gross Domestic Product (GDP) Adjusted by Regional Price Parities by Metropolitan Area—Table ends
2005
Area
C om pensation of
e m p lo ye e s1
(m illions of dollars)
A t current
national
prices
S ioux Falls, S D .....................................................
S outh B end-M ishaw aka, IN -M I.........................
S partanburg, SC
S pokane, WA
S pringfield, I L ....
S pringfield, M A ..
S pringfield, M O..
S pringfield, O H ..
State C ollege, PA..................................................
Stockton, C A ..........................................................
Sum ter, SC
S yracuse, N Y .........................................................
Tallahassee, F L .....................................................
Tampa-St. Petersburg-C learw ater, F L ............
Terre Haute, I N .....................................................
Texarkana, TX-Texarkana, A R ..........................
Toledo, O H .............................................................
Topeka, K S ............................................................
Trenton-Ewing, N J ...............................................
Tucson, AZ
Tulsa, O K ................................................................
Tuscaloosa, A L .....................................................
Tyler, TX.
U tica-R om e, N Y ....................................................
Valdosta, G A ..........................................................
Vallejo-Fairfield, C A .............................................
V ictoria, T X ............................................................
Vineland-M illville-B ridgeton, N J ........................
V irginia B each-N orfolk-N ew port News, VAN C .......................................................................
V isalia-P orterville, C A .........................................
W aco, T X ................................................................
W arn er R obins, G A .............................................
W a sh ing ton -A rling to n-A le xa n d ria , DC-VAM D -W V ...............................................................
W a terlo o-C ed ar Falls, IA .....................................
W ausau, W l
...................................................
W e irton-S teubenville, W V -O H ..........................
W enatchee, W A ....................................................
W he e ling , W V -O H ................................................
W ichita, KS
W ichita Falls, T X
W illia m spo rt, PA.
W ilm ington, N C .....................................................
W inchester, V A -W V .............................................
W inston-S alem , N C .............................................
W orcester, M A ...
Yakim a, W A
..................................................
York-Hanover, PA
Y oungstow n-W arren-B oard m a n, OH-PA
Yuba City, C A .........................................................
Yuma, A Z ................................................................
At regional
price
parities
5,307
6,140
5,572
9,230
5,174
13,561
7,336
2,074
3,246
10,281
1,876
14,818
7,538
58,591
2,872
2,238
15,101
4,816
13,911
16,867
18,596
4,067
3,988
5,230
2,160
7,274
2,189
2,937
5,697
7,054
6,877
10,370
6,073
14,091
9,200
2,478
3,863
8,360
2,543
16,044
8,224
61,569
3,835
3,305
16,678
5,818
11,855
18,838
21,120
5,337
4,907
6,294
Per capita
personal incom e
R egional
price parity
2,846
5,296
3,062
2,930
93.2
87.0
81.0
89.0
85.2
96.2
79.7
83.7
84.0
123.0
73.8
92.4
91.7
95.2
74.9
67.7
90.5
82.8
117.3
89.5
88.0
76.2
81.3
83.1
75.9
137.4
71.5
100.2
42,244
5,445
4,263
3,143
42,967
6,014
5,296
3,752
214,825
3,644
3,087
184,219
4,531
3,558
3,119
2,176
4,167
1,946
1,841
2,611
13,726
2,705
2,106
5,526
2,399
10,060
16,865
3,649
8,526
10,089
2,169
2,573
15,739
3,514
2,619
6,242
2,686
11,427
14,970
4,500
9,044
12,951
2,228
3,772
2006
At current
national
prices
A t regional
price
parities
Per capita G DP
At current
national
prices
At regional
price
parities
C om pensation of
em p lo ye e s'
(m illions of dollars)
At current
national
prices
28,696
26,239
24,831
31,445
29,834
33,678
25,518
27,202
30,811
30,375
45,740
29,658
35,180
29,143
31,892
27,363
24,581
33,445
29,323
27,378
37,088
34.634
32,089
31,132
37,465
33,250
32,510
31,006
33,052
23,319
31,193
33,338
31,839
34,804
31,204
35,262
33,218
34,782
40,087
31,784
38,041
35,543
36,720
30,965
30,010
28,599
37,092
27,331
56,689
35,357
33,857
33,898
37,703
29,314
32,184
23,246
34,058
26,222
26,156
36,697
33,606
38,161
28,762
28,310
38,071
35,220
59,140
29,189
43,523
35,280
38,227
26,350
26,848
28,568
38,395
29,603
58,501
38,250
38,767
36,485
42,085
30,089
36,833
26,095
3 8,414
23,302
32,518
38,590
35,611
39,287
34,447
36,369
40,478
39,627
53,487
31,315
46,384
41,680
43,055
29,952
3 2,277
2 3,723
46,164
29,557
5,660
6,286
5,903
9,920
5,306
14,017
7,682
2,142
3,422
10,810
1,956
15,388
7,929
62,700
2,955
2,364
15,632
4,964
14,869
18,228
20,511
4,384
4,222
98.3
90.5
80.5
83.8
33,259
23,654
27,091
28,507
33,698
25,055
31,694
33,342
40,426
23,786
30,560
34,794
116.6
80.4
49,442
30,514
43,582
35,971
66,510
41,142
86.8
62.4
84.6
62.7
87.2
77.0
80.4
88.5
89.3
88.0
112.7
81.1
94.3
77.9
97.4
68.2
32,148
25,982
27,671
27,764
35,831
35,337
30,915
38,310
37,933
35,156
31,642
31,878
32,322
35,741
34,229
28,860
33,650
32,850
26,206
27,721
40,289
26,599
31,325
29,913
37,942
32,971
28,793
36,916
38,017
46,851
32,857
27,016
33,095
28,689
24,482
22,744
35,276
31,741
27,179
28,544
33,083
32,475
27,860
28,157
34,491
29,760
27,285
29,620
29,847
32,680
36,666
25,141
32,377
27,927
25,827
21,081
A t regional
price
parities
Per capita
p ersonal incom e
R egional
price parity
5,508
2,264
7,634
2,377
3,031
5,963
7,621
7,174
11,476
6,282
14,232
9,817
2,748
3,996
8,912
2,630
16,629
8,485
64,636
4,193
3,308
17,635
5,986
12,685
20,796
22,780
5,335
5,168
6,735
3,202
5,598
3,117
3,177
98.5
78.2
77.9
85.6
121.3
74.4
92.5
93.5
97.0
70.5
71.5
88.6
82.9
117.2
87.7
90.0
82.2
81.7
81.8
70.7
136.4
76.3
95.4
40,864
25,188
35,163
39,629
44,905
5,960
4,446
3,374
4 5,834
6,862
5,515
4,194
98.0
86.9
80.6
80.4
60,650
46,599
43,972
35,955
34,569
40,460
41,384
38,368
33,150
39,174
40,492
49,912
30,420
30,735
34,369
33,612
24,861
29,384
226,751
3,796
3,223
1,963
1,953
2,681
15,059
2,945
2,154
6,002
2,564
10,493
17,651
3,871
8,643
10,544
2,325
2,776
191,556
4,838
3,725
3,153
2,420
4,269
17,519
3,679
2,736
6,809
2,891
12,488
15,680
4,984
8,990
13,982
2,327
4,146
118.4
78.5
86.5
62.3
80.7
62.8
86.0
80.1
78.7
88.1
88.7
84.0
112.6
77.7
96.1
75.4
99.9
67.0
1. Compensation of employees by metropolitan area can be found at www.bea.gov/bea/regional/reis.
2. Metropolitan statistical areas are defined by the U.S. Office of Management and Budget. A current list can be found at www.census.gov/population/www/metroareas/metrodef.html.
94.9
82.5
82.3
86.4
84.5
A t current
national
prices
36,017
33,082
28,261
30,266
34,365
33,815
28,518
29,463
29,910
27,272
26,242
33,198
31,180
35,541
A t regional
price
parities
Per ca pita GDP
A t cu rren t
national
prices
A t regional
p rice
parities
37,384
37,305
32,969
33,743
39,107
34,129
33,718
33,755
33,890
24,416
32,715
35,116
32,777
36,260
33,998
35,701
35,278
36,166
43,858
34,125
40,759
35,354
38,423
33,175
32,691
30,089
38,208
29,786
58,987
35,735
34,850
35,986
37,923
30,072
32,571
23,897
34,858
24,153
28,340
29,525
35,418
26,332
33,064
43,700
26,284
35,933
43,140
24,106
31,261
36,223
51,868
31,949
33,444
27,335
29,267
29,253
37,471
32,653
28,502
30,918
30,849
34,311
38,748
26,510
33,071
29,434
26,391
21,925
45,178
38,336
37,332
36,938
33,708
40,099
41,646
37,560
33,462
33,370
33,590
38,697
36,218
31,331
33,908
35,397
26,408
29,299
69,497
41,944
4 0,453
27,169
32,910
31,301
42,949
36,098
2 9,105
38,363
38,606
48,036
33,914
28,749
33,530
29,751
25,001
22,889
6 2,807
48,331
44,341
36,772
37,351
42,147
47,124
41,005
34,066
40,814
41,347
52,421
31,385
33,570
34,367
35,714
25,018
30,263
26,695
28,650
32,209
31,679
49,847
31,418
38,219
30,660
33,569
29,013
25,381
35,074
31,649
28,834
35,065
27,476
27,597
37,600
34,872
40,160
29,077
29,205
39,115
35,014
62,585
31,484
45,957
36,965
38,911
27,259
27,708
30,608
42,224
29,771
60,354
39,959
39,558
39,463
42,666
30,386
37,772
28,189
39,045
24,620
34,070
39,519
36,469
40,878
36,381
36,256
42,184
39,501
56,596
34,191
48,498
41,659
43,766
31,421
35,018
25,623
48,783
30,724
35,986
42,631
November 2008
S chedule of BEA New s R eleases in 2009
Ja n u a ry
U.S. In te rn a tio n a l T rade in G oods a n d Services, N o v em b er 2008*
G ross D o m estic P ro d u c t, 4th q u a rte r 2008 (advance)
Ja n u a ry 13
Ja n u a ry 30
F e b ru a ry
P ersonal In co m e a n d O utlays, D ecem ber 2008
U.S. In te rn a tio n a l T rade in G oods a n d Services, D ecem b er 2008*
G ross D o m estic P ro d u c t, 4th q u a rte r 2008 (p relim in ary )
F eb ru ary 2
F eb ru ary 11
F eb ru ary 27
P erso n al In co m e a n d O utlays, Jan u a ry 2009
U.S. In te rn a tio n a l T rade in G oods a n d Services, Jan u ary 2009*
U.S. In te rn a tio n a l T ransactions, 4th q u a rte r 2008
Travel a n d T o u rism Satellite A ccounts, 4th q u a rte r 2008 a n d 2008
State Q u a rte rly P ersonal In co m e, 1st q u a rte r 2 0 0 5 -4 * q u a rte r 2008 an d
State A n n u a l P erso n al Incom e, 2008 (p re lim in ary )
G ross D o m estic P ro d u c t, 4th q u a rte r 2008 (final) an d
C o rp o ra te Profits, 4th q u a rte r 2008
P erso n al In c o m e a n d O utlays, F eb ru ary 2009
M arch
M arch
M arch
M arch
M a rc h
A p ril
M ay
Ju n e
M arch 24
M arch 26
M arch 27
U.S. In te rn a tio n a l T rade in G oods a n d Services, F eb ru ary 2009*
S u m m a ry E stim ates fo r M u ltin atio n a l C o m p an ies, 2007
Local A rea P ersonal In co m e, 2007
A dvance G ross D o m estic P ro d u c t by In d u stry , 2008
A pril 9
A pril 17
A pril 23
A pril 28
G ross D o m estic P ro d u c t, 1st q u a rte r 2009 (advance)
P ersonal In co m e a n d O utlays, M arch 2009
A pril 29
A pril 30
U.S. In te rn a tio n a l T rade in G oods a n d Services, M arch 2009*
M ay 12
G ross D o m estic P ro d u c t, 1st q u a rte r 2009 (p re lim in a ry ) a n d
C o rp o ra te Profits, 1st q u a rte r 2009 (p re lim in a ry )
M ay 29
P ersonal In co m e a n d O utlays, A pril 2009
G ross D o m estic P ro d u c t b y State, 2008 (advance) an d
2 0 0 5 -2 0 0 7 (revised)
F oreign Investors S pen d in g, 2008
U.S. In te rn a tio n a l T rade in G oods a n d Services, A pril 2009*
U.S. In te rn a tio n a l T rade in G oods a n d Services A n n u a l R evision, 2008*
U.S. Travel a n d T o u rism Satellite A ccounts, 1st q u a rte r 2009
U.S. In te rn a tio n a l T ran sactions, 1st q u a rte r 2009
State Q u a rte rly P erso n al In co m e, 1st q u a rte r 2 0 0 8 -1st q u a rte r 2009
G ross D o m estic P ro d u c t, 1st q u a rte r 2009 (final) and
C o rp o ra te Profits, 1st q u a rte r 2009 (revised)
P ersonal In co m e a n d O utlays, M ay 2009
U.S. In te rn a tio n a l In v e stm en t P osition, 2008
All releases are scheduled for 8:30 a.m.
*Joint release by the Census Bureau and the Bureau of Economic Analysis
2
13
18
19
June 1
June
June
June
June
lu n e
lu n e
June
2
4
10
10
16
17
18
June 25
lu n e 26
June 26
76
S c h e d u le
J u ly
A u g u st
o f
N e w s
R e le a s e s
in
2 0 0 9
U.S. In te rn a tio n a l T rade in G o o d s a n d Services, M ay 2009*
G ross D o m estic P ro d u c t, 2nd q u a rte r 2009 (advance)
July 10
July 31
P erso n al In c o m e a n d O utlays, June 2009
A ugust 4
A ugust 6
A ugust 12
P erso n al In co m e fo r M e tro p o lita n Areas, 2008
U.S. In te rn a tio n a l T rade in G o o d s a n d Services, June 2009*
G ross D o m estic P ro d u c t, 2nd q u a rte r 2009 (p relim in ary ) a n d
C o rp o ra te Profits, 2nd q u a rte r 2009 (p re lim in a ry )
P erso n al In c o m e a n d O utlays, July 2009
S e p te m b e r
O c to b e r
D ecem ber
S ep tem b er 10
S ep tem b er 16
U.S. Travel a n d T o u rism Satellite A ccounts, 2nd q u a rte r 2009
G ross D o m estic P ro d u c t b y M e tro p o lita n A rea, 2007 a n d
2 0 0 5 -2 0 0 6 (revised)
G ross D o m estic P ro d u c t, 2nd q u a rte r 2009 (final) a n d
C o rp o ra te Profits, 2nd q u a rte r 2009 (revised)
S ep te m b er 23
P erso n al In c o m e a n d O utlays, A ugust 2009
O cto b er
O c to b er
O c to b e r
O c to b e r
S e p tem b e r 18
S ep tem b er 24
S ep tem b er 30
1
9
29
30
U.S. In te rn a tio n a l T rade in G o o d s a n d Services, S ep tem b er 2009*
G ross D o m estic P ro d u c t, 3rd q u a rte r 2009 (p re lim in a ry ) a n d
C o rp o ra te Profits, 3rd q u a rte r 2009 (p relim in a ry )
P erso n al In c o m e a n d O utlays, O c to b e r 2009
N o v em b er 13
U.S. In te rn a tio n a l T rade in G oods a n d Services, O cto b e r 2009*
U.S. Travel a n d T o u rism Satellite A ccounts, 3rd q u a rte r 2009
U.S. In te rn a tio n a l T ran sactions, 3rd q u a rte r 2009
State Q u a rte rly P erso n al In co m e, 1st q u a rte r 2 0 0 8 -3 rd q u a rte r 2009
C o u n ty E stim ates o f C o m p e n sa tio n by In d u stry , 2006-2008
G ross D o m estic P ro d u c t, 3rd q u a rte r 2009 (final) a n d
C o rp o ra te Profits, 3rd q u a rte r 2009 (revised)
D ecem b er
D ecem b er
D ecem b er
D ecem b er
D ecem b er
P erso n al In co m e a n d O utlays, N o v em b er 2009
D ecem b er 23
All releases are scheduled for 8:30 a.m.
*Joint release by the Census Bureau and the B ureau o f Econom ic Analysis
A ugust 27
A ugust 28
U.S. In te rn a tio n a l T rade in G o o d s a n d Services, July 2009*
U.S. In te rn a tio n a l T ran sactions, 2nd q u a rte r 2009
State Q u a rte rly P erso n al In co m e, 1st q u a rte r 2 0 0 6 -2 nd q u a rte r 2009 a n d
R evised State P erso n al In co m e, 2 0 0 6 -2008
U.S. In te rn a tio n a l T rade in G oods a n d Services, A ugust 2009*
G ross D o m estic P ro d u c t, 3rd q u a rte r 2009 (advance)
P ersonal In co m e a n d O utlays, S ep tem b er 2009
N ovem ber
N ovem ber 2008
N o v em b er 24
N o v em b er 25
10
15
16
17
21
D ecem b er 22
N ovem ber
2008
D -1
BEA Current and Historical Data
A selection of estimates from the national, industry, international, and regional accounts of the Bureau of Economic
Analysis (BEA) are presented in this section. BEA’s estimates are not copyrighted and may be reprinted without BEA’s
permission. Citing the S u r v e y of C u r r e n t Business and BEA as the source is appreciated.
More detailed estimates from BEA’s accounts are available on BEA’s Web site at www.bea.gov. These estimates are
available in a variety of formats. In addition, news releases, articles, and other information, including methodologies
and working papers, are available.
The tables present annual [A], quarterly [Q], and monthly [M] data.
N a tio n a l
G. Investment tables [A]
D a ta
A. Selected NIPA tables [A,Q]
1. Domestic product and income............................D-2
2. Personal income and outlays................................D -18
3. Government current receipts and expenditures ...D-21
4. Foreign transactions............................................ D-3 3
5. Saving and investment......................................... D-3 7
6. Income and employment by industry................. D-42
7. Supplemental tables............................................. D-43
B. NIPA-related table
B.l Personal income and its disposition [A, M ] ......D-46
C. Historical measures [A, Q]
C.l GDP and other major NIPA aggregates............ D-47
D. Charts
Selected NIPA series................................................ D-51
In d u s tr y
D a ta
E. Industry table
E.l Value added by industry [A]..............................D-57
I n te r n a t io n a l
D a ta
F. Transactions tables
E l U.S. international transactions in goods
and services [A, M ]......................................... D-58
F.2 U.S. international transactions [A, Q ]............... D-59
F.3 U.S. international transactions by area [Q ]........D-60
F.4 Private services transactions [A ]........................ D-63
G.l U.S. international investment position............. D-64
G.2 USDIA: Selected items...................................... D-65
G.3 Selected financial and operating data of foreign
affiliates of U.S. companies..........................D-66
G.4 FDIUS: Selected items...................................... D-67
G.5 Selected financial and operating data of U.S.
affiliates of foreign companies..................... D-68
H. Charts
The United States in the international economy.....D-69
R egio nal D ata
I. State and regional tables
1.1 Personal income [Q ].......................................... D-70
1.2 Personal income and per capita
personal income [A]....................................... D-71
1.3 Disposable personal income and per capita
disposable personal income [A ]..................... D-72
1.4 Gross domestic product by state [A].................. D-73
J. Local area tables
J. 1 Personal income and per capita personal income
by metropolitan area [A].................................D-74
1.2 Gross domestic product by metropolitan area
for industries [A ]............................................ D-79
K. Charts
Selected regional estimates...................................... D-83
A p p en d ixes
A. Additional information about the NIPA estimates
Statistical conventions............................................. D-85
Reconciliation table [A, Q ] ..................................... D-86
B. Suggested reading ............................................ D-87
D -2
N ovem ber
2008
National Data
A .
S e le c t e d
N IP A
T a b le s
The selected set of NIPA tables presents the most recent estimates of gross domestic product (GDP) and its
components which were released on October 30, 2008. These estimates include the “advance” estimates for the
third quarter of 2008.
The selected set presents quarterly estimates that are updated monthly. Annual estimates are presented in most
of the tables.
The GDP news release is available on BEA’s Web site within minutes after the release. To receive an e-mail noti
fication of the release, go to www.bea.gov and subscribe. The “Selected NIPA Tables” are available later that day.
1. Domestic Product and Income
Table 1.1.1. Percent Change From Preceding Period in Real
Gross Domestic Product
Table 1.1.2. Contributions to Percent Change in Real
Gross Domestic Product
[Percent]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Gross domestic product . ..
Personal consumption
expenditures............................
Durable goods.........................
Nondurable goods...................
Services.................................
Gross private domestic
investment.................................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software
Residential..........................
Change in private inventories...
1
2.8
2
3
4
5
3.0
4.5
3.7
2.5
2.1
III
IV
I
-0.2
Line
Government consumption
expenditures and gross
investment.................................
Federal...................................
National defense..................
Nondefense.........................
State and local.........................
2007
0.9
2007
II
4.8
2.8
2.8
2.0
2.0
1.0
0.9
1.2
4.8
2.5
2.6
5.0
1.9
1.4
2.3
1.2
2.4
0.4
0.3
1.4
-4.3
-0.4
2.4
-2.8
3.9
0.7
-5.4
6.2
3.5
-11.9
-5.8
-11.5
1.9
7.5
8.2
7.2
-7.1
-3.1
4.9
12.7
1.7
-17.9
3.0
10.3
18.3
6.9
-11.5
-0.9
8.7
20.5
3.6
-20.6
-6.2
3.4
8.5
1.0
-27.0
-5.6
2.4
8.6
-0.6
-25.1
-1.7
2.5
18.5
-5.0
-13.3
1S
14
15
16
17
18
19
9.1
9.9
7.2
6.0
6.0
6.0
8.4
7.5
10.5
2.2
1.7
4.4
8.8
6.9
13.3
-3.7
-4.0
-2.0
23.0
21.8
25.9
3.0
2.4
6.3
4.4
5.1
2.7
-2.3
-2.6
-0.9
5.1
4.5
6.4
-0.8
-2.0
5.5
12.3
16.3
3.8
-7.3
-7.1
-8.0
20
21
22
23
24
1.7
2.1
3.9
3.8
0.8
1.9
3.9
2.3
1.6
3.6
1.3
1.6
2.5
-0.2
2.3
6.7
8.5
3.1
2.4
7.2
10.2
1.2
1.9
-0.5
-0.9
0.4
1.6
5.8
7.3
2.9
-0.3
6.6
7.3
5.0
2.5
Net exports of goods and
Exports
Goods.................................
Services..............................
Imports...................................
Goods.................................
Services..............................
2006
II
4.8
6
7
8
9
10
11
1?
2.0
Seasonally adjusted at annual rates
2008
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........................
Equipment and software
Residential...........................
Change in private inventories...
Net exports of goods and
services.....................................
Exports...................................
Goods.................................
Services..............................
Imports....................................
Goods.................................
Services..............................
Government consumption
expenditures and gross
investment.................................
Federal....................................
National defense..................
Nondefense.........................
State and local.........................
1
2.8
2
3
4
5
2.13
1.95
0.36
0.74
1.02
0.38
0.50
1.07
0.35
-0.90
0.94
0.32
0.77
0.23
0.54
-0.45
0.03
-0.50
0.52
0.40
0.13
-1.02
-0.40
0.47
1.07
0.57
0.50
-0.60
0.47
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
2.0
III
2008
IV
II
I
4.8
-0.2
1.42
1.44
0.67
0.61
0.87
0.40
0.40
0.62
0.19
0.25
1.00
0.03
0.05
0.59
-0.33
-0.08
1.02
-0.21
0.80
0.28
0.54
-1.93
-0.89
-1.74
-0.15
0.91
0.65
0.26
-1.06
0.69
-0.97
0.36
0.29
0.07
-1.33
-0.96
-0.86
0.26
0.30
-0.04
-1.12
-0.02
-0.25
0.27
0.64
-0.37
-0.52
-1.50
4.8
0.9
2.8
-0.02
0.58
1.66
2.03
0.94
0.77
2.93
0.96
0.73
0.23
-0.98
-0.82
-0.16
0.95
0.59
0.36
-0.37
-0.25
-0.12
1.01
0.55
0.46
0.65
0.59
0.06
2.54
1.66
0.88
-0.51
-0.34
-0.17
0.53
0.43
0.10
0.40
0.38
0.02
0.63
0.39
0.24
0.14
0.29
-0.15
1.54
1.39
0.15
1.39
1.14
0.25
0.32
0.40
0.77
0.75
0.16
0.38
0.78
0.16
0.08
0.08
0.16
0.11
0.12
0.00
0.28
0.47
0.40
0.07
0.30
0.51
0.48
0.03
0.24
-0.04
-0.04
0.01
0.19
0.41
0.34
0.06
-0.03
0.47
0.36
0.11
0.31
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -3
Table 1.1.3. Real Gross Domestic Product, Quantity Indexes
Table 1.1.4. Price Indexes for Gross Domestic Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
II
Gross domestic product. ..
Personal consumption
expenditures............................
III
Seasonally adjusted
2008
IV
I
1 115.054 117.388 117.056 118.425 118.374 118.631
2
3
4
5
Durable goods........................
Nondurable goods...................
Services.................................
Gross private domestic
investment.................................
6
7
8
9
10
11
1?
Fixed investment.
Nonresidential
Structures...
Equipment and software
Residential...........................
Change in private inventories...
Line
119.460
Government consumption
expenditures and gross
investment.................................
Federal...................................
National defense..................
Nondefense........................
State and local........................
13
14
15
16
17
18
19
20
21
22
23
24
119.135 122.456 122.226 122.838 123.130 123.395 123.770
137.274 143.908 143.894 144.720 144.856 143.284 142.273
119.930 122.872 122.815 123.182 123.261 123.147 124.317
115.298 118.259 117.916 118.605 119.020 119.739 119.937
Durable goods........................
Nondurable goods...................
Services..................................
110.200 104.278 105.040 105.950 102.639 101.110
98.071
Gross private domestic
investment.................................
111.109
106.987
86.318
115.467
123.728
107.717
112.244
97.264
117.412
101.534
108.475
111.502
95.447
117.302
105.552
108.218
113.863
100.005
118.348
99.644
106.503
114.819
102.076
118.636
92.110
104.969
115.504
104.206
118.470
85.698
104.522
116.212
108.716
116.961
82.692
119.937
118.407
123.826
130.815
132.613
122.153
130.068
127.335
136.868
133.654
134.921
127.581
126.992
124.300
133.690
133.041
134.401
126.515
133.747
130.571
141.620
134.033
135.197
128.460
135.189
132.219
142.570
133.254
134.315
128.185
136.880
133.690
144.792
132.991
133.654
129.913
140.908
138.826
146.131
130.509
131.212
127.217
Exports...................................
Goods.................................
Services..............................
Imports....................................
Goods.................................
Services..............................
114.497 116.871 116.541 117.642 117.879 118.443 119.594
Government consumption
expenditures and gross
investment.................................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software
Residential..........................
Change in private inventories...
Net exports of goods and
services.....................................
128.019
132.315
120.318
107.642
130.078
135.596
120.127
110.167
129.507
134.701
120.154
109.957
131.772
138.002
120.506
110.484
131.610
137.694
120.614
110.914
2007
133.488
140.125
121.469
110.844
135.628
142.621
122.949
111.517
2007
II
Gross domestic product....
Personal consumption
expenditures............................
Net exports of goods and
Exports...................................
Goods.................................
Services.............................
Imports...................................
Goods.................................
Services.............................
2006
II
Federal....................................
National defense..................
Nondefense........................
State and local.........................
III
1 116.676 119.819 119.531
2008
IV
119.984 120.826 121.613 121.951
2 114.675 117.659 117.246 117.969 119.221 120.283 121.544
3 88.772 87.154 87.365 86.938 86.598 86.581
86.237
4 114.984 118.407 117.830 118.682 121.092 123.059 125.021
5 120.752 124.712 124.218 125.179 126.253 127.133 128.450
6
7
8
9
10
11
1?
13
14
15
16
17
18
19
20
21
22
23
24
116.102 117.735 117.659 117.566 117.960 117.815 117.926
116.380
107.277
151.822
94.594
136.897
117.995
108.739
157.662
94.870
138.884
117.945
108.730
157.195
94.992
138.733
117.836
108.558
157.402
94.712
138.820
118.189
109.015
159.138
94.798
138.803
118.117
109.177
160.182
94.700
137.900
118.353
109.788
161.496
95.101
136.687
112.618
111.131
116.156
115.932
114.171
125.257
116.586
115.062
120.211
120.168
118.326
129.928
116.011
114.591
119.392
119.050
117.091
129.478
117.018
115.382
120.905
121.200
119.274
131.423
118.794
117.085
122.855
124.907
123.378
132.874
121.397
119.916
124.932
128.722
127.427
135.377
124.560
123.456
127.211
137.136
136.387
140.740
127.239 132.941 132.386 133.497 135.174 137.237 139.588
125.806
127.381
122.803
128.109
130.076
131.874
126.636
134.671
130.037
131.701
126.869
133.806
130.342
132.232
126.721
135.400
131.070
133.237
126.886
137.649
132.879
134.905
128.986
139.866
Table 1.1.5. Gross Domestic Product
Table 1.1.6. Real Gross Domestic Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Gross domestic product....
Personal consumption
expenditures............................
Gross private domestic
investment.................................
6
7
8
9
10
11
12
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software
Residential...........................
Change in private inventories...
Exports...................................
Goods.................................
Services.............................
Imports...................................
Goods.................................
Services.............................
Government consumption
expenditures and gross
investment.................................
Federal...................................
National defense..................
Nondefense........................
State and local........................
IV
I
13
14
15
16
17
18
19
20
21
22
23
24
134.553
136.967
129.868
142.632
Seasonally adjusted at annual rates
Line
2008
2006
2007
2007
II
II
1 13,178.4 13,807.5 13,737.5 13,950.6 14,031.2 14,150.8 14,294.5
2
3
4
5
Durable goods........................
Nondurable goods...................
Services.................................
Net exports of goods and
services.....................................
III
II
I
Gross domestic product....
Personal consumption
expenditures............................
9,207.2
9,710.2
9,657.5
9,765.6
9,892.7 10,002.3 10,138.0
1,052.1
2,685.2
5,469.9
1,082.8
2,833.0
5,794.4
1,085.3
2,817.7
5,754.4
1,086.2
2,846.6
5,832.8
1,083.0
2,906.2
5,903.5
1,071.0
2,950.7
5,980.6
1,059.3
3,026.2
6,052.5
Durable goods........................
Nondurable goods..................
Services..................................
2,220.4
2,130.4
2,147.2
2,164.0
2,092.3
2,056.1
2,000.9
Gross private domestic
investment.................................
2,171.1
1,414.1
410.4
1,003.7
757.0
49.3
2,134.0
1,503.8
480.3
1,023.5
630.2
-3.6
2,148.1
1,493.7
469.8
1,023.9
654.4
-0.9
2,141.0
1,522.9
492.9
1,030.0
618.1
23.0
2,113.4
1,542.1
508.7
1,033.4
571.3
-21.1
2,081.7
1,553.6
522.7
1,030.9
528.1
-25.6
2,077.0
1,571.9
549.8
1,022.1
505.0
-76.0
Fixed investment.....................
Nonresidential.....................
Structures.......................
Equipment and software...
Residential...........................
Change in private inventories...
-757.3
-707.8
-723.1
-682.6
-696.7
-705.7
-718.2
Net exports of goods and
services.....................................
1,480.8
1,032.1
448.7
2,238.1
1,882.7
355.4
1,662.4
1,149.2
513.2
2,370.2
1,985.2
385.1
1,614.4
1,116.8
497.6
2,337.5
1,957.1
380.5
1,714.9
1,181.2
533.8
2,397.5
2,005.4
392.1
1,759.7
1,213.7
546.0
2,456.5
2,060.9
395.6
1,820.8
1,256.9
563.9
2,526.5
2,118.0
408.5
1,923.2
1,343.7
579.5
2,641.4
2,225.5
415.9
Exports...................................
Goods.................................
Services..............................
Imports....................................
Goods.................................
Services..............................
2,508.1
2,674.8
2,655.9
2,703.5
2,742.9
2,798.1
2,873.7
Government consumption
expenditures and gross
investment.................................
932.2
624.1
308.0
1,575.9
979.3
662.2
317.1
1,695.5
974.6
656.8
317.8
1,681.3
994.0
675.6
318.3
1,709.5
998.3
679.3
319.0
1,744.6
1,026.5
699.9
326.6
1,771.6
1,056.1
723.3
332.9
1,817.6
Federal....................................
National defense..................
Nondefense........................
State and local........................
Residual......................................
III
2008
IV
I
II
1 11,294.8 11,523.9 11,491.4 11,625.7 11,620.7 11,646.0 11,727.4
2
8,029.0
8,252.8
8,237.3
8,278.5
8,298.2
8,316.1
8,341.3
3
1,185.1
2,335.3
4,529.9
1,242.4
2,392.6
4,646.2
1,242.3
2,391.5
4,632.7
1,249.4
2,398.6
4,659.8
1,250.6
2,400.2
4,676.1
1,237.0
2,397.9
4,704.3
1,228.3
2,420.7
4,712.1
1,912.5
1,809.7
1,822.9
1,838.7
1,781.3
1,754.7
1,702.0
1,865.5
1,318.2
270.3
1,061.0
552.9
42.3
1,808.5
1,382.9
304.6
1,078.9
453.8
-2.5
1,821.3
1,373.8
298.9
1,077.9
471.7
-2.8
1,817.0
1,402.9
313.2
1,087.5
445.3
16.0
1,788.2
1,414.7
319.7
1,090.1
411.6
-8.1
1,762.4
1,423.1
326.4
1,088.6
383.0
-10.2
1,754.9
1,431.8
340.5
1,074.7
369.6
-50.6
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
-615.7
-546.5
-571.2
-511.8
-484.5
-462.0
-381.3
1,314.8
928.7
386.3
1,930.5
1,649.0
283.7
1,425.9
998.7
426.9
1,972.4
1,677.7
296.4
1,392.2
974.9
417.0
1,963.4
1,671.2
293.9
1,466.2
1,024.1
441.8
1,978.0
1,681.1
298.4
1,482.1
1,037.0
444.7
1,966.5
1,670.2
297.8
1,500.6
1,048.6
451.7
1,962.6
1,662.0
301.8
1,544.7
1,088.9
455.8
1,926.0
1,631.6
295.5
1,971.2
2,012.1
2,006.4
2,025.3
2,029.4
2,039.1
2,058.9
741.0
490.0
250.8
1,230.2
-35.3
752.9
502.1
250.4
1,259.0
-55.1
749.6
498.8
250.5
1,256.6
-53.5
762.7
511.0
251.2
1,262.6
-55.3
761.7
509.9
251.5
1,267.5
-62.1
772.6
518.9
253.2
1,266.7
-56.3
785.0
528.1
256.3
1,274.4
-44.3
N o te . Chained (2 0 0 0 ) dollar series are calculated as the product of the chain-type quantity index and the 2 0 0 0 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is
the difference between the first line and the sum of the most detailed lines.
National Data
D -4
Table 1.1.7. Percent Change From Preceding Period in Prices for
Gross Domestic Product
N ovem ber
2008
Table 1.1.8. Contributions to Percent Change in the
Gross Domestic Product Price Index
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
III
Line
2008
IV
I
2006
2007
II
2007
II
Gross domestic product ..
1
3.2
2.7
2.0
1.5
2.8
2.6
1.1
Personal consumption
expenditures........................
Durable goods.......................
Nondurable goods.................
Services................................
2
3
4
5
2.8
2.6
3.6
2.5
4.3
3.6
4.3
-1.3
3.0
3.5
-1.8
3.0
3.3
-1.6
6.4
3.3
-1.9
2.9
3.1
-1.6
8.4
3.5
-0.1
6.7
2.8
-1.6
6.5
4.2
Gross private domestic
investment...........................
Fixed investment....................
Nonresidential...................
Structures......................
Equipment and software
Residential.........................
Change in private inventories.
6
7
8
9
10
11
1?
4.2
1.4
-0.3
-0.3
1.3
-0.5
0.4
4.2
3.3
12.3
0.1
5.9
1.4
1.4
3.8
0.3
1.5
-0.2
0.3
0.7
0.1
-1.3
-0.4
-0.6
0.5
-1.2
0.3
1.2
1.7
4.5
0.4
0.0
-0.2
0.6
2.7
-0.4
-2.6
0.8
2.3
3.3
1.7
-3.5
Gross private domestic
investment.................................
Net exports of goods and
services................................
Exports.................................
Goods................................
Services............................
Imports.................................
Goods................................
Services............................
13
14
15
16
17
18
19
3.5
3.3
3.8
4.3
4.2
4.8
3.5
3.5
3.5
3.7
3.6
3.7
5.3
5.1
5.9
12.8
13.0
11.7
3.5
2.8
5.2
7.4
7.7
6.1
6.2
6.0
6.6
12.8
14.5
4.5
9.1
10.0
6.9
12.8
13.8
7.8
10.8
12.3
7.5
28.8
31.2
16.8
Net exports of goods and
services.....................................
Government consumption
expenditures and gross
investment............................
Federal.................................
National defense................
Nondefense.......................
State and local.......................
20
21
22
23
24
4.7
4.5
5.2
3.4
5.1
6.2
7.0
4.1
4.5
3.4
5.1
3.4
3.5
3.1
5.1
3.7
4.3
2.6
6.1
0.9
1.6
-0.5
4.9
2.3
3.1
0.5
6.8
5.6
5.1
6.8
6.6
5.1
6.3
2.8
8.1
Addendum:
Gross national product..........
25
3.2
2.7
2.0
1.5
2.8
2.6
1.1
Percent change at annual rate:
Gross domestic product....
Percentage points at annual
rates:
Personal consumption
expenditures............................
Durable goods.........................
Nondurable goods...................
Services..................................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software...
Residential...........................
Change in private inventories...
Exports...................................
Goods.................................
Services..............................
Imports....................................
Goods.................................
Services..............................
Government consumption
expenditures and gross
investment.................................
Federal....................................
National defense..................
Nondefense........................
State and local.........................
2008
IV
I
II
1
3.2
2
3
4
5
1.94
1.83
2.53
1.73
2.99
2.53
2.96
-0.11
0.62
1.44
-0.15
0.61
1.36
-0.13
1.27
1.39
-0.15
0.59
1.29
-0.12
1.66
1.44
-0.01
1.35
1.18
-0.12
1.33
1.75
0.71
0.23
-0.05
-0.05
0.21
-0.07
0.05
0.70
0.35
0.34
0.00
0.35
0.01
0.22
0.15
0.13
0.02
0.08
0.01
-0.03
0.04
0.03
0.01
-0.07
-0.02
-0.05
-0.06
0.02
-0.08
0.01
0.01
0.19
0.19
0.16
0.03
0.00
0.02
-0.04
0.07
0.10
-0.03
-0.10
-0.04
0.12
0.25
0.12
0.12
-0.13
-0.06
-0.33
-0.21
-1.44
-0.81
-1.34
-1.02
-3.26
0.38
0.25
0.13
-0.71
-0.59
-0.13
0.41
0.28
0.12
-0.62
-0.52
-0.10
0.61
0.40
0.20
-2.05
-1.75
-0.31
0.42
0.23
0.19
-1.23
-1.06
-0.17
0.75
0.51
0.25
-2.09
-1.97
-0.12
1.11
0.84
0.27
-2.13
-1.92
-0.21
1.36
1.06
0.29
-4.61
-4.16
-0.45
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
2.7
III
2.0
1.5
2.8
2.6
0.90
0.85
0.99
0.65
0.98
1.20
1.36
0.29
0.21
0.08
0.61
0.24
0.17
0.07
0.61
0.26
0.20
0.06
0.73
0.07
0.08
-0.01
0.58
0.16
0.15
0.01
0.82
0.40
0.25
0.15
0.80
0.37
0.30
0.06
0.99
Table 1.1.9. Implicit Price Deflators for Gross Domestic Product
Table 1.1.10. Percentage Shares of Gross Domestic Product
[Index numbers, 2000=100]
[Percent]
Seasonally adjusted
2007
Line
Line
Gross domestic product . ..
Personal consumption
expenditures............................
Durable goods.........................
Nondurable goods...................
Services.................................
Gross private domestic
investment.................................
Fixed investment......................
Nonresidential.....................
Structures.......................
Equipment and software
Residential...........................
Change in private inventories...
2006
2007
2007
III
IV
I
II
1 116.676
119.816
119.547
119.997
120.743
121.508
121.890
2 114.675
88.771
3
4 114.985
5 120.752
117.659
117.241
117.964
119.215
120.277
121.539
87.154
118.408
124.712
87.367
117.825
124.212
86.941
118.675
125.173
86.600
121.085
126.248
86.584
123.053
127.128
86.240
125.014
128.445
6 116.100
7 116.380
8 107.277
9 151.823
10 94.594
11 136.898
1?
117.718
117.791
117.691
117.462
117.174
117.564
117.995
108.740
157.661
94.870
138.885
117.946
108.729
157.160
94.994
138.730
117.835
108.556
157.384
94.712
138.803
118.188
109.010
159.129
94.797
138.780
118.116
109.173
160.172
94.699
137.878
118.352
109.784
161.486
95.099
136.665
Net exports of goods and
Exports...................................
Goods.................................
Services.............................
Imports...................................
Goods.................................
Services.............................
Government consumption
expenditures and gross
investment.................................
Federal....................................
National defense..................
Nondefense.........................
State and local.........................
1M
14
15
16
17
18
19
112.618
111.131
116.156
115.932
114.170
125.257
116.585
115.062
120.210
120.168
118.326
129.929
115.963
114.551
119.323
119.058
117.102
129.468
116.962
115.336
120.825
121.208
119.287
131.412
118.735
117.035
122.771
124.915
123.392
132.861
121.337
119.864
124.847
128.730
127.441
135.364
124.498
123.403
127.124
137.144
136.403
140.727
20 127.239
21 125.806
22 127.381
23 122.803
24 128.110
132.940
132.374 133.482
135.159
137.223
139.573
130.077
131.874
126.636
134.671
130.027
131.683
126.868
133.794
130.331
132.213
126.718
135.388
131.057
133.217
126.883
137.638
132.867
134.885
128.984
139.854
134.540
136.946
129.865
142.619
25
119.813
119.542
119.990
120.737
121.495
121.876
Addendum:
Gross national product............
116.672
2006
Gross domestic product....
Personal consumption
expenditures............................
Durable goods.........................
Nondurable goods...................
Services..................................
Gross private domestic
investment.................................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software...
Residential...........................
Change in private inventories...
Net exports of goods and
services.....................................
Exports...................................
Goods.................................
Services..............................
Imports....................................
Goods.................................
Services..............................
Government consumption
expenditures and gross
investment.................................
Federal....................................
National defense..................
Nondefense........................
State and local.........................
2008
2007
II
III
IV
100.0
100.0
100.0
70.3
70.0
7.9
20.5
41.9
7.8
20.4
41.8
15.6
15.6
10.9
3.4
7.5
4.8
0.0
-5.1
12.0
8.3
3.7
17.2
14.4
2.8
19.0
7.1
4.7
2.3
12.0
2008
II
1.1
1
100.0
2
3
4
5
69.9
70.3
8.0
20.4
41.5
7.8
20.5
42.0
6
7
8
9
10
11
12
16.8
15.4
16.5
10.7
3.1
7.6
5.7
0.4
15.5
10.9
3.5
7.4
4.6
0.0
13
14
15
16
17
18
19
-5.7
11.2
7.8
3.4
17.0
14.3
2.7
20
21
22
23
24
100.0
I
II
100.0
100.0
70.5
70.7
70.9
7.7
20.7
42.1
7.6
20.9
42.3
7.4
21.2
42.3
15.5
14.9
14.5
14.0
15.3
10.9
3.5
7.4
4.4
0.2
15.1
11.0
3.6
7.4
4.1
-0.2
14.7
11.0
3.7
7.3
3.7
-0.2
14.5
11.0
3.8
7.2
3.5
-0.5
-5.3
-4.9
-5.0
-5.0
-5.0
11.8
8.1
3.6
17.0
14.2
2.8
12.3
8.5
3.8
17.2
14.4
2.8
12.5
8.7
3.9
17.5
14.7
2.8
12.9
8.9
4.0
17.9
15.0
2.9
13.5
9.4
4.1
18.5
15.6
2.9
19.4
19.3
19.4
19.5
19.8
20.1
7.1
4.8
2.3
12.3
7.1
4.8
2.3
12.2
7.1
4.8
2.3
12.3
7.1
4.8
2.3
12.4
7.3
4.9
2.3
12.5
7.4
5.1
2.3
12.7
N ovem ber
2008
D -5
S u r v e y o f C u r r e n t B u s in e s s
Table 1.2.1. Percent Change From Preceding Period in Real
Table 1.2.2. Contributions to Percent Change in Real
Gross Domestic Product by Major Type of Product
Gross Domestic Product by Major Type of Product
[Percent]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Gross domestic product......
Final sales of domestic
product...........................
Change in private
inventories.....................
III
Seasonally adjusted at annual rates
2008
IV
Line
I
Final sales.............................
Change in private inventories
Durable goods...........................
Final sales.............................
Change in private inventories1
Nondurable goods.....................
Final sates.............................
Change in private inventories1
Services 2..........................................
Structures.........................................
Addenda:
Motor vehicle output...................
Gross domestic product
excluding motor vehicle output
Final sales of computers3..........
Gross domestic product
excluding final sales of
computers..............................
Gross domestic purchases
excluding final sales of
computers to domestic
purchasers.............................
2007
II
2007
II
1
2.8
2.0
4.8
4.8
-0.2
0.9
2.8
2
2.8
2.4
4.3
4.0
0.8
0.9
4.4
4
5
6
7
8
9
10
11
1?
5.4
3.1
10.3
9.0
0.0
0.9
4.9
5.4
4.5
8.6
6.6
3.2
1.0
10.1
13
3
Goods................................................
2006
5.3
6.2
4.2
5.9
6.4
11.7
14.8
7.6
5.8
7.3
0.7
0.9
-5.9
1.4
5.5
4.7
2.3
3.4
13.4
6.2
4.6
5.8
-4.4
0.0
1.1
1.1
14.1
17.4
14
2.3
-2.2
2.8
-5.0
2.7
0.8
4.0
-2.9
1.3
-9.3
2.7
-10.1
1.7
3.3
15
-0.9
-1.1
4.6
17.3
-25.7
-14.2
-33.8
16
17
2.9
25.0
2.1
21.3
4.8
37.2
4.4
52.6
0.7
23.7
1.3
8.2
4.0
28.4
18
2.6
1.9
4.6
4.5
-0.3
0.8
2.7
19
2.4
1.2
2.8
2.4
-1.3
0.0
-0.3
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification
System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
Percent change at annual rate:
Gross domestic product......
Percentage points at annual
rates:
Final sales of domestic
product...........................
Change in private
inventories.....................
G oods................................................
Final sales..............................
Change in private inventories
Durable goods...........................
Final sales..............................
Change in private inventories 1
Nondurable goods.....................
Final sales..............................
Change in private inventories 1
III
2008
IV
-0.2
2.0
4.8
4.8
2.75
2.43
4.32
4.07
0.79
0.89
4.32
0.03
-0.40
0.47
0.69
-0.96
-0.02
-1.50
1.67
0.97
3.08
2.71
0.01
0.29
1.49
1.64
0.03
0.73
0.85
-0.12
0.94
0.79
0.14
1.37
-0.40
0.57
0.80
-0.23
0.40
0.57
-0.17
2.61
0.47
0.87
1.55
-0.68
2.21
1.06
1.15
2.02
0.69
1.92
1.03
0.88
0.80
0.99
-0.20
0.97
-0.96
0.78
0.97
-0.19
-0.77
0.00
-0.77
0.31
-0.02
0.10
0.12
-0.02
0.19
0.19
0.00
2.98
-1.50
-0.80
0.20
-1.00
2.29
2.79
-0.49
1
2.8
2
3
4
5
6
7
8
9
10
11
12
0.9
13
14
1.35
-0.24
1.61
-0.55
1.61
0.09
2.35
-0.30
0.79
-0.97
1.62
-1.03
1.02
0.32
Motor vehicle output...................
Gross domestic product excluding
motor vehicle output...............
Final sales of computers3..........
Gross domestic product excluding
final sales of computers..........
15
-0.03
-0.03
0.13
0.47
-0.86
-0.41
-1.01
16
17
2.81
0.15
2.06
0.13
4.66
0.21
4.29
0.28
0.69
0.14
1.28
0.05
3.84
0.17
18
2.63
1.90
4.58
4.48
-0.31
0.82
2.66
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification
System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
Table 1.2.4. Price Indexes for Gross Domestic Product
by Major Type of Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
2006
2007
2007
II
Gross domestic product.......
Final sales of domestic
product...........................
Change in private
inventories......................
G oods................................................
Final sales.............................
Change in private inventories
Durable goods...........................
Final sales.............................
Nondurable goods......................
Final sales.............................
Services 2..........................................
Structures........................................
Addenda:
Motor vehicle output...................
Gross domestic product
excluding motor vehicle output
Final sales of computers 3..........
Gross domestic product
excluding final sales of
computers..............................
Gross domestic purchases
excluding final sales of
computers to domestic
purchasers.............................
III
Seasonally adjusted
2008
IV
I
Line
2006
2007
II
2007
II
III
2008
IV
I
II
1 115.054 117.388 117.056 118.425 118.374 118.631 119.460
Gross domestic product......
1 116.676 119.819 119.531 119.984 120.826 121.613 121.951
2 115.254 118.062 117.725 118.898 119.133 119.397 120.679
Final sales of domestic
product...........................
Change in private
2 116.710 119.853 119.569 120.020 120.856 121.653 122.008
G oods................................................
4 100.861 101.692 101.814 101.431 101.528 101.688 100.206
118.665 123.980 123.368 125.357 126.345 126.661 129.733
Final sales..............................
118.271 123.215 121.104 125.357 127.148 127.375 125.460
119.702 126.764 125.886 128.215 130.498 130.779 131.235
Durable goods...........................
Final sales..............................
118.359 121.079 121.675 123.053 121.691 122.025 126.129
118.106 122.064 121.653 123.381 123.382 123.725 128.779
Nondurable goods......................
Final sales..............................
5 100.843 101.662 101.795 101.406 101.485 101.675 100.257
fi
7 91.905 90.584 90.958 90.161 89.828 89.625 88.743
8 91.759 90.447 90.820 90.032 89.712 89.522 88.703
9
10 109.125 112.039 111.913 111.935 112.458 112.983 110.919
11 109.229 112.124 112.019 112.027 112.504 113.075 111.074
1?
13 115.073 118.248 117.769 118.918 119.317 120.128 120.637
Services 2 ..........................................
Structures..........................................
Addenda:
3
4
5
fi
/
8
9
10
11
1?
3
118.120 121.819 121.232 123.866 123.877 124.165 125.657
14 107.317 101.904 102.952 102.193
97.097
97.897
15 115.156 113.904 114.036 118.665 110.163 106.030
95.654
99.726
16 115.042 117.488 117.143 118.410 118.620 119.009 120.173
17 229.878 278.889 265.127 294.677 310.796 317.000 337.452
18 114.427 116.612 116.317 117.603 117.510 117.751 118.531
19 115.743 117.129 117.083 117.771 117.389 117.388 117.301
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification
System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
2.8
Services 2..........................................
Structures.........................................
Addenda:
Table 1.2.3. Real Gross Domestic Product by Major Type of Product,
Quantity Indexes
Line
II
I
Motor vehicle output..................
Gross domestic product
excluding motor vehicle output
Final sales of computers 3..........
Gross domestic product
excluding final sales of
computers..............................
13 122.444 126.792 126.261 127.240 128.542 129.814 131.357
14 140.886 145.862 145.401 145.998 147.015 147.227 147.509
15
97.526
96.738
96.940
96.803
96.322
95.413
94.710
16 117.425 120.718 120.411 120.887 121.778 122.625 122.998
17 34.667 29.500 30.511 28.537 27.141 26.310 25.177
18 117.855 121.184 120.861 121.376 122.275 123.102 123.482
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification
System (NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
National Data
D -6
N ovem ber
Table 1.2.5. Gross Domestic Product
by Major Type of Product
Table 1.2.6. Real Gross Domestic Product
by Major Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Gross domestic product
III
Line
2008
IV
I
2 13,129.0 13,811.2 13,738.4 13,927.6 14,052.3 14,176.4 14,370.5
3
49.3
-3.6
-0.9
23.0
-21.1
-25.6
4,109.4
4,272.7
4,260.2
4,336.2
4,329.4
4,343.9
4,337.1
4,060.1
49.3
1,836.3
1,816.0
20.3
2,273.1
2,244.1
29.0
4,276.4
-3.6
1,885.4
1,895.6
-10.2
2,387.3
2,380.8
6.5
4,261.0
-0.9
1,861.1
1,890.5
-29.4
2,399.1
2,370.5
28.6
4,313.1
23.0
1,909.6
1,908.8
0.8
2,426.6
2,404.4
22.2
4,350.5
-21.1
1,929.7
1,935.8
-6.1
2,399.7
2,414.6
-14.9
4,369.5
-25.6
1,928.7
1,935.9
-7.2
2,415.2
2,433.6
-18.4
4,413.1
-76.0
1,881.0
1,924.9
-43.9
2,456.1
2,488.2
-32.1
Services 2..........................................
Structures..........................................
Addenda:
13
14
7,644.6
1,424.3
8,134.5
1,400.3
8,067.1
1,410.3
8,208.8
1,405.6
8,320.7
1,381.2
8,460.2
1,346.7
8,597.0
1,360.4
Motor vehicle output...................
Gross domestic product
excluding motor vehicle output
Final sales of computers 3..........
Gross domestic product
excluding final sales of
computers..............................
15
Final sales.............................
Change in private inventories
Durable goods............................
Final sales..............................
Change in private inventories 1
Nondurable goods......................
Final sales..............................
Change in private inventories 1
409.9
402.2
403.9
419.4
387.1
-76.0
368.5
2007
2007
II
4
5
6
7
8
9
10
11
12
G oods................................................
2006
II
1 13,178.4 13,807.5 13,737.5 13,950.6 14,031.2 14,150.8 14,294.5
Final sales of domestic
product...........................
Change in private
inventories......................
330.4
Final sales of domestic
product...........................
Change in private
inventories.....................
Residual.............................
Final sales..............................
Change in private inventories
Durable goods..........................
Final sales..............................
Change in private inventories 1
Nondurable goods.....................
Final sales..............................
Change in private inventories 1
Services 2........................................
Structures........................................
Residual........................................
3
4
42.3
3.2
-2.5
3.0
-2.8
3.7
16.0
4.7
-8.1
0.8
-10.2
2.5
-50.6
-0.8
5
6
7
8
9
10
11
12
13
4,074.4
4,201.9
4,181.7
4,272.6
4,272.9
4,282.9
4,334.3
4,026.1
42.3
1,998.0
1,979.1
18.3
2,083.1
2,054.5
23.8
4,206.5
-2.5
2,081.6
2,095.8
-8.7
2,131.0
2,123.3
5.3
4,185.7
-2.8
2,045.9
2,081.3
-25.7
2,141.4
2,116.2
20.0
4,253.2
16.0
2,117.7
2,119.8
0.9
2,165.7
2,146.3
14.2
4,286.7
-8.1
2,148.0
2,157.5
-5.2
2,141.7
2,146.3
-3.2
4,297.4
-10.2
2,151.8
2,162.2
-6.1
2,147.6
2,152.2
-4.3
4,401.6
-50.6
2,119.5
2,169.7
-36.1
2,219.8
2,240.2
-16.9
14
6,243.4
1,011.0
6,415.6
960.0
6,389.7
969.9
6,452.0
962.7
6,473.6
939.5
6,517.6
914.7
6,545.3
922.2
-35.3
-67.4
-60.0
-70.2
-87.8
-90.3
-97.0
420.3
415.7
416.2
433.1
402.1
387.0
349.1
15
16
16 12,768.5 13,405.3 13,333.6 13,531.1 13,644.1 13,782.3 13,964.1
17
90.4
89.4
87.6
93.0
93.3
92.3
94.0
18 13,090.8 13,717.1 13,648.1 13,857.6 13,937.9 14,058.6 14,200.5
Motor vehicle output..................
Gross domestic product
excluding motor vehicle output
Final sales of computers 3.........
Gross domestic product
excluding final sales of
computers.............................
17
18 10,873.8 11,105.0 11,072.4 11,192.1 11,212.0 11,248.7 11,358.8
19
252.7
306.6
291.5
324.0
341.7
348.5
371.0
20 11,107.5 11,319.6 11,290.9 11,415.8 11,406.7 11,430.1 11,505.8
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard Indus
trial Classification (SIC); later estimates for these industries are based on the North American Industry Classification System
(NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
N o te . Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights
of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line following
change in private inventories is the difference between gross domestic product and the sum of final sales of domestic product
and of change in private inventories; the residual line following structures is the difference between gross domestic product
and the sum of the detailed lines of goods, of services, and of structures.
Table 1.3.3. Real Gross Value Added by Sector,
Quantity Indexes
[Percent]
[Index numbers, 2000=100]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Households and institutions....
Households............................
Nonprofit institutions serving
households 3.......................
General governm ent4................
Federal...................................
State and local.........................
1
2
3
4
2.8
3.0
III
Seasonally adjusted
2008
IV
I
Line
2007
2007
II
2.0
2.0
4.8
5.6
4.8
5.5
-0.2
-0.6
0.9
0.7
2.8
2.6
Gross domestic product....
Business 1.....................................
2.8
-10.7
Nonfarm 2...............................
Farm.......................................
3.2
-6.9
2.0
9.7
5.8
-6.1
5.5
8.6
-0.7
8.2
0.9
-15.5
5
6
3.2
2.7
3.1
2.5
1.1
0.8
4.5
Households and institutions....
5.2
3.0
2.8
2.2
0.6
-1.2
5.0
7
0.8
2.2
3.5
3.0
1.8
3.5
3.7
Households..............................
Nonprofit institutions serving
households 3........................
8
9
10
0.6
1.3
0.8
2.1
1.6
2.2
2.4
General governm ent4................
-0.1
0.9
0.7
1.6
-0.5
1.4
3.8
1.3
1.4
1.7
3.7
1.6
4.3
1.6
Federal....................................
State and local........................
11
4.9
3.7
3.7
2.8
1.0
-1.0
5.4
III
2008
IV
I
II
1 115.054
117.388 117.056 118.425 118.374 118.631 119.460
2 116.682 119.063 118.715 120.313 120.127 120.328 121.115
3 116.664 118.951 118.628
4 116.668 127.943 125.493
5 112.824 115.821 115.594
6 115.089 118.550 118.387
120.213
128.120
119.992
130.659
120.265
125.276
121.106
121.771
116.319 116.647 116.894 118.174
119.024
119.201
118.834
113.181
113.691
114.675
115.732
8 106.991 108.403 108.073
9 106.857 107.655 107.026
10 107.046 108.732 108.535
108.634 109.058 109.661
110.322
108.030
108.898
108.402
109.346
109.403
109.773
110.570
110.210
11
115.622
115.914
115.635
117.179
7 110.212 112.654
112.350
120.301
Addendum:
1. Equals gross domestic product excluding gross value added of households and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and
used by nonprofit institutions serving households, and rental income of persons for tenant-occupied housing owned by
nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
2006
II
Addendum:
Gross housing value added
II
2 11,249.3 11,523.4 11,490.5 11,605.0 11,628.0 11,653.7 11,778.8
Table 1.3.1. Percent Change From Preceding Period
in Real Gross Value Added by Sector
Nonfarm 2...............................
Farm.......................................
I
IV
1 11,294.8 11,523.9 11,491.4 11,625.7 11,620.7 11,646.0 11,727.4
Gross domestic product.....
G oods...............................................
III
2008
Addenda:
1. Estimates for durable goods and nondurable goods for 1996 and earlier periods are based on the 1987 Standard Indus
trial Classification (SIC); later estimates for these industries are based on the North American Industry Classification System
(NAICS).
2. Includes government consumption expenditures, which are for services (such as education and national defense)
produced by government. In current dollars, these services are valued at their cost of production.
3. Some components of final sales of computers include computer parts.
Gross domestic product . ..
Business 1.....................................
2008
Gross housing value added
110.964
115.030
114.816
1. Equals gross domestic product excluding gross value added of households and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and
used by nonprofit institutions serving households, and rental income of persons for tenant-occupied housing owned by
nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
N ovem ber
2008
D -7
S u r v e y o f C u r r e n t B u s in e s s
Table 1.3.4. Price Indexes for Gross Value Added by Sector
Table 1.3.5. Gross Value Added by Sector
[Index numbers, 2000=100]
[Billions of dollars]
Seasonally adjusted
Line
2007
2006
2007
II
Gross domestic product . ..
Business 1.....................................
Households and institutions....
Households.............................
Nonprofit institutions serving
households 3.......................
General governm ent4................
Federal...................................
State and local.........................
IV
I
Line
116.321 116.149 116.403 117.008 117.637 117.860
149.982 146.243 153.727 162.934 162.072 159.800
Nonfarm 2...............................
Farm.......................................
5 122.503 126.083 125.391 126.246 127.999 129.363 129.987
6 117.778 120.862 120.247 121.111 122.770 124.126 124.831
Households and institutions....
2007
132.880 134.758 136.128 136.640
8 130.843 136.547 136.058 137.091 138.142 139.658 140.764
9 136.545 142.629 143.041 142.719 143.022 145.621 146.562
10 128.464 134.010 133.147 134.741 136.102 137.167 138.343
III
2008
IV
I
II
1 13,178.4 13,807.5 13,737.5 13,950.6 14,031.2 14,150.8 14,294.5
2 10,183.8 10,642.3 10,594.7 10,767.0 10,802.5 10,874.7 10,969.5
3 10,092.6 10,505.1 10,460.4 10,623.7 10,659.1 10,739.2 10,838.2
4
137.3
134.3
143.4
131.3
91.1
143.2
135.5
5
6
1,497.3
1,582.0
1,570.1
1,590.8
1,617.4
1,638.1
834.5
882.1
876.4
887,4
900.9
908.1
924.5
7
662.8
699.9
693.8
703.3
716.5
730.0
739.5
8
9
10
1,497.3
1,583.2
1,572.7
1,592.8
1,611.3
1,638.0
1,661.0
460.1
1,037.2
484.2
1,099.0
482.8
1,089.9
486.2
1,106.6
488.9
1,122.4
502.4
1,135.6
511.1
1,149.9
11
1,038.3
1,106.9
1,099.0
1,114.8
1,132.9
1,142.1
1,164.3
Households..............................
Nonprofit institutions serving
households 3........................
General governm ent4................
Federal....................................
State and local.........................
Addendum:
Gross housing value added.,,
2007
II
Gross domestic product....
Business 1.....................................
7 128.587 132.840 132.041
2006
II
119.819 119.531 119.984 120.826 121.613 121.951
116.631 116.425 116.748 117.437 118.051 118.251
1 116.676
2 113.880
3 113.942
4 109.192
Nonfarm 2...............................
Farm.......................................
III
Seasonally adjusted at annual rates
2008
1,664.0
Addendum:
11 117.808 121.146 120.514 121.401
123.054 124.357 125.104
Gross housing value added...
1. Equals gross domestic product excluding gross value added of households and institutions and of general govern
ment.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and
used by nonprofit institutions serving households, and rental income of persons for tenant-occupied housing owned by
nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
1. Equals gross domestic product excluding gross value added of households and institutions and of general govern
ment.
2. Equals gross domestic business value added excluding gross farm value added.
3. Equals compensation of employees of nonprofit institutions, the rental value of nonresidential fixed assets owned and
used by nonprofit institutions serving households, and rental income of persons for tenant-occupied housing owned by
nonprofit institutions.
4. Equals compensation of general government employees plus general government consumption of fixed capital.
Table 1.3.6. Real Gross Value Added by Sector, Chained Dollars
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Gross domestic product................................................
Business 1..................................................................................
Nonfarm 2........................................................................
Farm................................................................................
Households and institutions.................................................
Households.....................................................................
Nonprofit institutions serving households 3......................
General governm ent4.............................................................
Federal...................
State and local........
Residual......................
III
2008
IV
I
II
11,294.8
8,945.6
11,523.9
9,128.2
11,491.4
9,101.5
11,625.7
9,224.0
11,620.7
9,209.7
11,646.0
9,225.2
11,727.4
9,285.5
8,860.8
83.4
9,034.5
91.5
9,010.0
89.8
9,130.4
91.6
9,113.6
93.5
9,134.3
89.6
9,198.2
87.1
5
6
7
1,219.3
1,251.7
1,249.2
1,257.1
1,260.6
1,263.3
1,277.1
708.5
512.6
729.9
523.9
728.8
522.5
732.8
526.4
733.9
528.7
731.6
533.3
740.6
538.2
8
9
10
11
1,144.4
1,159.5
1,155.9
1,161.9
1,166.5
1,172.9
1,180.0
337.0
807.4
-14.9
339.5
820.1
-15.5
337.5
818.6
-15.8
340.7
821.3
-17.5
341.9
824.7
-15.6
345.0
827.9
-15.7
348.7
831.2
-16.6
12
881.4
913.7
912.0
918.4
920.7
918.5
930.7
1
2
3
4
Addendum:
Gross housing value added.............................................
1. Equals gross domestic product excluding gross value added of households
and institutions and of general government.
2. Equals gross domestic business value added excluding gross farm value
added.
3. Equals compensation of employees of nonprofit institutions, the rental
value of nonresidential fixed assets owned and used by nonprofit institutions
serving households, and rental income of persons for tenant-occupied housing
owned by nonprofit institutions.
4.
Equals compensation of general government employees plus general
government consumption of fixed capital.
N o te . Chained (2000) dollar series are calculated as the product of the chaintype quantity index and the 2000 current-dollar value of the corresponding
series, divided by 100. Because the formula for the chain-type quantity indexes
uses weights of more than one period, the corresponding chained-dollar esti
mates are usually not additive. The residual line is the difference between the
first line and the sum of the most detailed lines.
Table 1.4.1. Percent Change From Preceding Period in Real Gross Domestic Product, Real Gross
Domestic Purchases, and Real Final Sales to Domestic Purchasers
[Percent]
Seasonally adjusted at annual rates
Line
2006
2007
2007
III
II
Gross domestic product.........................................................
2008
IV
I
II
1
2
3
4
5
2.8
2.0
4.8
4.8
-0.2
0.9
2.8
9.1
6.0
8.4
2.2
8.8
-3.7
23.0
3.0
4.4
-2.3
5.1
-0.8
12.3
-7.3
2.6
1.4
2.9
2.6
-1.0
0.1
-0.1
Equals: Final sales to domestic purchasers......................
Addendum:
6
2.6
1.8
2.5
1.9
-0.1
0.1
1.3
Final sales of domestic product........................................
7
2.8
2.4
4.3
4.0
0.8
0.9
4.4
Less: Exports of goods and services..................................
Plus: Imports of goods and services....................................
Equals: Gross domestic purchases.....................................
Less: Change in private inventories.....................................
National Data
D -8
N ovem ber
2008
Table 1.4.3. Real Gross Domestic Product, Real Gross Domestic
Purchases, and Real Final Sales to Domestic Purchasers, Quantity Indexes
Table 1.4.4. Price Indexes for Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
II
Gross domestic product............
Less: Exports of goods and
services...................................
Plus: Imports of goods and
services...................................
Equals: Gross domestic
purchases..................................
Seasonally adjusted
2007
III
2008
IV
I
Line
117.388
117.056 118.425
118.374 118.631
119.460
119.937
130.068
126.992
133.747
135.189
136.880
140.908
3
130.815
133.654
133.041
134.033
133.254
132.991
130.509
Less: Exports of goods and
services..................................
Plus: Imports of goods and
services..................................
118.726 118.694
Equals: Gross domestic
purchases..................................
118.259 119.013 118.700
Gross domestic product............
I
II
1 116.676
119.819 119.531
2
112.618
116.586
116.011
119.984 120.826 121.613 121.951
117.018
118.794
121.397
124.560
3 115.932
120.168
119.050
121.200
124.907
128.722
137.136
4 117.066
120.294 119.908 120.571
121.766 122.821
124.103
S
s
Final sales of domestic product
2008
IV
Less: Change in private
Less: Change in private
Equals: Final sales to domestic
purchasers................................
Addendum:
III
II
1 115.054
118.343
2007
2007
II
2
4 116.748
2006
6 116.948
118.995
118.906 119.469
119.427 119.461
119.853
Equals: Final sales to domestic
purchasers.................................
Addendum:
6 117.101
120.329 119.946 120.609 121.798 122.863 124.160
7
118.062
117.725
119.133
119.397
120.679
Final sales of domestic product
7 116.710
119.853
115.254
118.898
119.569
120.020
120.856
121.653
122.008
Table 1.4.5. Relation of Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
Table 1.4.6. Relation of Real Gross Domestic Product, Real Gross Domestic
Purchases, and Real Final Sales to Domestic Purchasers, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Gross domestic product............
III
Line
2008
IV
I
II
Gross domestic product............
2,641.4
Equals: Gross domestic
purchases..................................
4 13,935.7 14,515.3 14,460.6 14,633.1 14,728.0 14,856.6 15,012.7
Equals: Gross domestic
purchases..................................
Less: Change in private
inventories...............................
5
2
1,480.8
1,662.4
1,614.4
1,714.9
1,759.7
1,820.8
1,923.2
3
2,238.1
2,370.2
2,337.5
2,397.5
2,456.5
2,526.5
49.3
-3.6
-0.9
23.0
-21.1
-25.6
-76.0
2007
2007
II
1 13,178.4 13,807.5 13,737.5 13,950.6 14,031.2 14,150.8 14,294.5
Less: Exports of goods and
services..................................
Plus: Imports of goods and
services..................................
Less: Exports of goods and
services...................................
Plus: Imports of goods and
services...................................
2006
Less: Change in private
inventories..............................
III
2008
IV
I
II
1 11,294.8 11,523.9 11,491.4 11,625.7 11,620.7 11,646.0 11,727.4
2
1,314.8
1,425.9
1,392.2
1,466.2
1,482.1
1,500.6
1,544.7
3
1,930.5
1,972.4
1,963.4
1,978.0
1,966.5
1,962.6
1,926.0
4 11,904.1 12,066.8 12,058.2 12,135.1 12,103.2 12,105.8 12,102.6
5
42.3
-2.5
-2.8
16.0
-8.1
-10.2
-50.6
Equals: Final sales to domestic
purchasers................................
Addendum:
6 13,886.4 14,519.0 14,461.5 14,610.1 14,749.0 14,882.2 15,088.7
Equals: Final sales to domestic
purchasers.................................
Addendum:
6 11,858.5 12,066.0 12,057.0 12,114.1 12,109.8 12,113.3 12,153.0
Final sales of domestic product
7 13,129.0 13,811.2 13,738.4 13,927.6 14,052.3 14,176.4 14,370.5
Final sales of domestic product
7 11,249.3 11,523.4 11,490.5 11,605.0 11,628.0 11,653.7 11,778.8
N o te . Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights
of more than one period, the corresponding chained-dollar estimates are usually not additive.
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
Table 1.5.1. Percent Change From Preceding Period in Real
Gross Domestic Product, Expanded Detail
D -9
Table 1.5.2. Contributions to Percent Change in Real
Gross Domestic Product, Expanded Detail
[Percent]
Seasonally adjusted at annual rates
ine
2006
2007
2007
II
Gross domestic product . ..
Personal consumption
expenditures.........................
Durable goods........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other..................................
Nondurable goods...................
Food...................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other..................................
Services.................................
Housing..............................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation..........................
Other..................................
Gross private domestic
investment.............................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment...........
Software 1...............
Other......................
Industrial equipment....
Transportation
equipment...............
Other equipment.........
Residential..........................
Change in private inventories...
Farm...................................
Nonfarm..............................
1
2.8
2.0
2
3
4
3.0
2.8
4.5
-2.6
5
6
7
8
9
III
Seasonally adjusted at annual rates
2008
I
IV
ine
-0.2
0.9
2.8
Percent change at annual rate:
2.0
2.0
1.0
0.9
1.2
4.8
2.0
5.0
1.6
2.3
-6.7
0.4
-0.8
-4.3
-10.7
-2.8
-19.7
Percentage points at annual
rates:
12.1
6.3
3.7
4.0
5.9
8.0
4.8
2.5
1.9
4.7
5.6
10.6
1.9
2.8
2.7
8.8
9.4
1.2
0.3
4.4
3.9
-3.6
0.3
2.8
-3.2
1.8
-2.3
-0.4
1.3
3.0
14.0
2.4
3.9
4.1
10.9
10
11
12
13
14
15
16
17
18
19
20
-2.0
4.5
2.5
3.2
-0.4
-3.0
1.5
2.0
2.6
3.2
2.5
0.8
3.2
2.6
1.5
1.8
1.9
1.8
1.9
2.9
4.5
3.2
-2.6
2.1
1.4
0.8
0.5
-2.4
2.6
1.5
1.0
2.5
2.7
-0.4
2.0
2.4
0.7
1.6
1.1
1.9
2.3
3.7
2.4
2.8
-1.7
-1.5
1.4
1.2
2.5
0.5
3.9
-0.8
4.0
-0.4
-0.8
-6.0
-1.8
2.4
0.5
1.8
7.4
-2.1
1.7
4.9
-4.7
4.1
-6.4
6.2
0.7
1.7
-4.3
-11.0
1.0
-3.0
2.8
1.3
-0.3
21
22
23
24
25
2.1
-5.4
6.2
3.5
-11.9
-5.8
-11.5
1.9
7.5
8.2
7.2
-3.1
4.9
12.7
1.7
3.0
10.3
18.3
6.9
-0.9
8.7
20.5
3.6
-6.2
3.4
8.5
1.0
-5.6
2.4
8.6
-0.6
-1.7
2.5
18.5
-5.0
26
9.1
9.6
11.5
8.7
10.5
7.2
8.0
27
28
29
30
24.7
4.1
7.9
5.7
17.9
10.0
5.4
1.4
13.9
14.4
7.1
29.2
19.5
6.4
6.5
-2.8
19.3
9.9
7.3
-14.3
16.1
9.9
0.2
0.8
13.0
2.1
13.0
-3.6
31
32
33
34
35
36
6.7
4.1
-7.1
-12.6
-5.2
-17.9
-23.4
6.2
-11.5
-5.6
4.6
-20.6
-15.2
6.3
-27.0
-14.0
-12.5
-25.1
-46.6
-3.2
-13.3
Gross domestic product....
9.1
9.9
7.2
6.0
6.0
6.0
8.4
7.5
10.5
2.2
1.7
4.4
8.8
6.9
13.3
-3.7
-4.0
-2.0
Government consumption
expenditures and gross
investment.............................
Federal...................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense........................
Consumption expenditures
Gross investment.............
State and local........................
Consumption expenditures
Gross investment.................
44
45
46
47
48
49
50
51
52
53
54
1.7
2.1
3.9
3.8
2.3
1.6
0.8
7.0
3.6
2.6
10.7
1.3
1.7
-0.2
1.6
2.5
2.6
1.6
-0.2
-0.2
0.2
2.3
2.0
3.7
6.7
8.5
6.7
21.7
3.1
1.2
17.2
2.4
1.7
5.1
7.2
10.2
10.9
5.4
1.2
1.7
-2.2
1.9
1.5
3.5
23.0
21.8
25.9
3.0
2.4
6.3
1. Excludes software “embedded,”or bundled, in computers and other equipment.
4.4
5.1
2.7
-2.3
-2.6
-0.9
2007
II
4.8
37
38
39
40
41
42
43
2007
II
4.8
Net exports of goods and
services.................................
Exports...................................
Goods.................................
Services.............................
Imports...................................
Goods.................................
Services.............................
2006
5.1
4.5
6.4
-0.8
-2.0
5.5
12.3
16.3
3.8
-7.3
-7.1
-8.0
0.8
1.9
3.9
-0.5
-0.9
-1.4
3.0
0.4
-0.8
8.1
1.6
1.6
1.5
5.8
7.3
7.4
6.0
2.9
2.9
2.8
-0.3
1.4
-6.8
6.6
7.3
3.4
38.7
5.0
4.0
11.8
2.5
1.2
7.8
Personal consumption
expenditures.........................
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other...................................
Nondurable goods...................
Food....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other...................................
Services..................................
Housing...............................
Household operation............
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation..........................
Other...................................
Gross private domestic
investment.............................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment............
Software ' ................
Other........................
Industrial equipment....
Transportation
equipment................
Other equipment..........
Residential...........................
Change in private inventories...
Farm....................................
Nonfarm..............................
Net exports of goods and
services.................................
Exports....................................
Goods.................................
Services..............................
Imports....................................
Goods.................................
Services..............................
Government consumption
expenditures and gross
investment..............................
Federal....................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Gross investment.............
State and local........................
Consumption expenditures...
Gross investment.................
2.0
III
4.8
-0.2
I
II
1
2.8
2
3
4
2.13
1.95
1.42
1.44
0.67
0.61
0.87
0.36
-0.09
0.38
0.07
0.40
0.05
0.19
-0.22
0.03
-0.03
-0.33
-0.35
-0.21
-0.64
5
6
7
8
9
0.35
0.10
0.74
0.38
0.16
0.24
0.08
0.50
0.18
0.13
0.17
0.17
0.40
0.27
0.08
0.26
0.15
0.25
0.03
0.12
0.11
-0.06
0.05
0.27
-0.09
0.05
-0.04
-0.08
0.13
0.08
0.39
0.04
0.80
0,40
0.28
10
11
12
13
14
15
16
17
18
19
20
-0.05
0.25
1.02
0.34
-0.02
-0.05
0.03
0.05
0.31
0.09
0.24
0.02
0.17
1.07
0.16
0.07
0.03
0.04
0.05
0.35
0.13
0.31
-0.07
0.12
0.62
0.09
0.02
-0.04
0.06
0.04
0.13
0.08
0.27
-0.01
0.11
1.00
0.08
0.06
0.02
0.04
0.06
0.45
0.07
0.28
-0.05
-0.08
0.59
0.12
0.09
0.01
0.08
-0.02
0.48
-0.01
-0.08
-0.18
-0.10
1.02
0.05
0.07
0.11
-0.05
0.04
0.59
-0.14
0.40
-0.20
0.33
0.28
0.18
-0.17
-0.19
0.02
-0.08
0.35
0.04
-0.03
21
22
23
24
25
0.35
-0.90
0.94
0.54
-1.93
-0.89
-1.74
0.32
0.77
0.23
0.54
-0.50
0.52
0.40
0.13
0.47
1.07
0.57
0.50
-0.15
0.91
0.65
0.26
-0.97
0.36
0.29
0.07
-0.86
0.26
0.30
-0.04
-0.25
0.27
0.64
-0.37
26
0.32
0.34
0.41
0.31
0.37
0.27
0.30
27
28
29
30
0.15
0.06
0.11
0.07
0.11
0.15
0.08
0.02
0.09
0.22
0.09
0.34
0.12
0.10
0.09
-0.04
0.12
0.16
0.10
-0.20
0.10
0.16
0.00
0.01
0.08
0.04
0.18
-0.05
31
32
33
34
35
36
0.09
0.05
-0.45
0.03
-0.03
0.06
-0.17
-0.07
-1.02
-0.40
0.04
-0.44
-0.32
0.07
-0.60
0.47
0.14
0.33
-0.07
0.06
-1.06
0.69
-0.08
0.77
-0.18
0.08
-1.33
-0.96
0.47
-1.43
-0.16
-0.16
-1.12
-0.02
-0.17
0.15
-0.58
-0.04
-0.52
-1.50
-0.14
-1.36
37
38
39
40
41
42
43
-0.02
0.58
1.66
2.03
0.94
0.77
2.93
0.96
0.73
0.23
-0.98
-0.82
-0.16
0.95
0.59
0.36
-0.37
-0.25
-0.12
1.01
0.55
0.46
0.65
0.59
0.06
2.54
1.66
0.88
-0.51
-0.34
-0.17
0.53
0.43
0.10
0.40
0.38
0.02
0.63
0.39
0.24
0.14
0.29
-0.15
1.54
1.39
0.15
1.39
1.14
0.25
0.32
0.40
0.77
0.75
0.16
0.38
0.78
0.16
0.08
0.04
0.04
0.08
0.05
0.03
0.16
0.16
0.00
0.11
0.12
0.11
0.01
0.00
0.00
0.00
0.28
0.20
0.09
0.47
0.40
0.28
0.12
0.07
0.02
0.05
0.30
0.17
0.13
0.51
0.48
0.45
0.03
0.03
0.03
-0.01
0.24
0.15
0.09
-0.04
-0.04
-0.06
0.02
0.01
-0.02
0.02
0.19
0.15
0.04
0.41
0.34
0.31
0.04
0.06
0.06
0.01
-0.03
0.14
-0.18
0.47
0.36
0.15
0.21
0.11
0.08
0.03
0.31
0.12
0.19
44
45
46
47
48
49
50
51
52
53
54
4.8
2008
IV
1. Excludes software “embedded,”or bundled, in computers and other equipment.
0.9
2.8
National Data
D -1 0
N ovem ber
2008
Table 1.5.3. Real Gross Domestic Product, Expanded Detail, Quantity Indexes
Table 1.5.4. Price Indexes for Gross Domestic Product, Expanded Detail
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
II
Gross domestic product. ..
Personal consumption
expenditures.............................
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other..................................
Nondurable goods...................
Food...................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other..................................
Services.................................
Housing..............................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other..................................
Gross private domestic
investment.................................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software
Information processing
equipment and
software...................
Computers and
peripheral
equipment...........
Software 1...............
Other.......................
Industrial equipment....
Transportation
equipment...............
Other equipment.........
Residential...........................
Change in private inventories...
Seasonally adjusted
III
Line
2008
IV
I
1 115.054
117.388 117.056
118.425
118.374
118.631
119.460
2 119.135
3 137.274
4 113.304
122.456
122.226
122.838
123.130
123.395
123.770
143.908
115.582
143.894
116.767
144.720
114.746
144.856
114.513
143.284
111.313
142.273
105.357
5 175.831
6 132.979
7 119.930
8 117.831
9 132.484
189.830
139.314
122.872
120.038
138.677
188.009 192.006
138.918 142.080
122.815 123.182
119.987 120.080
138.442 139.942
193.857
140.796
123.261
120.924
138.806
194.714 201.210
139.967 140.804
123.147 124.317
121.315 122.534
139.821 143.488
102.633
125.011
115.298
114.718
106.000
103.457
107.826
100.853
125.648
119.546
111.625
103.438
128.976
118.259
116.420
107.959
105.447
109.760
102.731
129.317
124.880
115.218
103.422
128.953
117.916
116.289
107.617
105.109
109.415
102.582
128.499
124.723
115.063
103.330
129.588
118.605
116.501
108.035
105.399
109.932
103.172
129.659
125.479
115.866
102.901
129.094
119.020
116.839
108.696
105.540
110.980
102.969
130.943
125.365
115.638
101.329
128.514
119.739
116.978
109.183
107.453
110.404
103.408
132.522
123.860
116.814
21 110.200
22 111.109
23 106.987
24
86.318
25 115.467
104.278
105.040
105.950
102.639
107.717
112.244
97.264
117.412
108.475
111.502
95.447
117.302
108.218
113.863
100.005
118.348
106.503
114.819
102.076
118.636
26
127.574
139.842
138.415
141.339
2/
28
29
30
195.433
122.340
108.784
96.414
230.472
134.548
114.710
97.805
224.513
133.795
113.782
100.669
31
32
33
34
‘Ah
36
99.186
119.265
123.728
86.683
113.095
101.534
119.937
118.407
123.826
130.815
132.613
122.153
130.068
127.335
136.868
133.654
134.921
127.581
10
11
12
13
14
15
16
17
18
19
20
Government consumption
expenditures and gross
investment.................................
Federal....................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Gross investment.............
State and local.........................
Consumption expenditures
Gross investment.................
99.664
130.448
119.937
117.469
108.001
104.375
110.677
102.628
133.451
124.263
116.714
101.110
98.071
Gross private domestic
investment.................................
104.969
115.504
104.206
118.470
104.522
116.212
108.716
116.961
144.914
147.465
150.324
234.740
135.899
115.585
99.953
245.331
139.131
117.627
96.179
254.682
142.463
117.698
96.369
262.580
143.201
121.342
95.494
86.678
112.438
105.552
85.427
113.716
99.644
81.981
115.475
92.110
78.949
111.679
85.698
67.497
110.767
82.692
126.992
124.300
133.690
133.041
134.401
126.515
133.747
130.571
141.620
134.033
135.197
128.460
135.189
132.219
142.570
133.254
134.315
128.185
136.880
133.690
144.792
132.991
133.654
129.913
140.908
138.826
146.131
130.509
131.212
127.217
Exports...................................
Goods.................................
Services..............................
Imports....................................
Goods.................................
Services..............................
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment............
Software ' ................
Other.......................
Industrial equipment....
Transportation
equipment................
Other equipment..........
Residential..........................
Change in private inventories...
2007
2007
2008
II
III
1 116.676
119.819
119.531
119.984
120.826
121.613 121.951
2 114.675
88.772
3
4 99.099
117.659 117.246 117.969
119.221
120.283
121.544
87.154
98.589
87.365
98.367
86.938
98.737
86.598
98.919
86.581
98.698
86.237
98.382
5 73.331
6 98.460
7 114.984
8 115.344
9 91.332
69.924
99.421
118.407
119.682
90.595
70.554
99.348
117.830
119.023
90.468
69.426
99.232
118.682
120.440
90.114
68.445
99.608
121.092
121.553
90.311
68.115
100.809
123.059
123.007
90.203
67.161
102.109
125.021
124.943
89.520
10
11
12
13
14
15
16
17
18
19
20
171.084
109.796
120.752
120.281
121.503
141.370
110.042
116.172
122.136
118.532
121.376
185.237
111.013
124.712
124.679
124.813
144.797
113.275
119.318
126.601
120.418
125.365
183.081
110.752
124.218
124.217
124.814
145.416
112.933
118.559
126.049
120.141
124.720
185.479 205.630 218.289
110.946 111.638 112.598
125.179 126.253 127.133
125.110 126.086 126.994
125.018 126.005 127.183
144.522 146.182 148.139
113.745 114.354 115.093
119.935 121.004 122.455
126.962 128.078 128.364
120.595 121.833 122.851
126.145 127.259 128.529
231.457
113.027
128.450
127.623
131.604
157.995
116.476
124.768
129.127
123.699
129.950
21
22
23
24
25
116.102
117.735
117.659 117.566 117.960 117.815
117.926
116.380
107.277
151.822
94.594
117.995
108.739
157.662
94.870
117.945
108.730
157.195
94.992
117.836
108.558
157.402
94.712
118.189
109.015
159.138
94.798
118.117
109.177
160.182
94.700
118.353
109.788
161.496
95.101
26
80.851
79.170
79.412
78.830
78.586
78.245
78.370
2/
28
29
30
44.779
95.464
90.860
111.551
40.062
95.888
90.278
115.968
40.668
95.817
90.424
115.490
39.308
95.850
90.097
116.383
38.391
96.147
90.047
117.484
37.024
96.339
90.345
118.620
36.297
96.976
90.863
120.525
31 110.916
32 110.642
33 136.897
34
3H
36
112.762
113.222
138.884
113.210
113.117
138.733
112.494
113.376
138.820
112.519
113.933
138.803
111.871
114.175
137.900
111.849
114.579
136.687
112.618
111.131
116.156
115.932
114.171
125.257
116.586
115.062
120.211
120.168
118.326
129.928
116.011
114.591
119.392
119.050
117.091
129.478
117.018
115.382
120.905
121.200
119.274
131.423
118.794
117.085
122.855
124.907
123.378
132.874
121.397
119.916
124.932
128.722
127.427
135.377
124.560
123.456
127.211
137.136
136.387
140.740
127.239
132.941
132.386
133.497 135.174
125.806
127.381
131.213
103.657
122.803
125.964
103.916
128.109
128.485
126.675
130.076
131.874
136.220
105.255
126.636
130.378
104.556
134.671
134.517
135.383
130.037
131.701
136.085
104.874
126.869
130.659
104.529
133.806
133.634
134.590
130.342
132.232
136.573
105.625
126.721
130.499
104.446
135.400
135.190
136.337
IV
I
II
Net exports of goods and
V
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
114.497
116.871
116.541
117.642
117.879
118.443
119.594
Government consumption
expenditures and gross
investment.................................
128.019
132.315
129.097
157.208
120.318
119.305
128.081
107.642
107.669
107.447
130.078
135.596
132.457
159.765
120.127
119.048
128.357
110.167
109.828
111.471
129.507
134.701
131.394
160.322
120.154
118.943
129.334
109.957
109.624
111.232
131.772
138.002
134.826
162.446
120.506
119.441
128.627
110.484
110.046
112.188
131.610
137.694
134.343
163.647
120.614
119.214
131.166
110.914
110.478
112.612
133.488
140.125
136.773
166.030
121.469
120.061
132.081
110.844
110.874
110.632
135.628
142.621
137.921
180.174
122.949
121.235
135.821
111.517
111.201
112.741
Federal....................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Gross investment.............
State and local........................
Consumption expenditures...
Gross investment.................
1. Excludes software “embedded,” or bundled, in computers and other equipment.
Gross domestic product....
Personal consumption
expenditures............................
Durable goods........................
Motor vehicles and parts.....
Furniture and household
equipment.......................
Other...................................
Nondurable goods...................
Food....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other...................................
Services.
Housing..............................
Household operation............
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation..........................
Other...................................
Net exports of goods and
Exports...................................
Goods.................................
Services..............................
Imports...................................
Goods.................................
Services..............................
2006
II
'M
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
1. Excludes software “embedded,” or bundled, in computers and other equipment.
137.237 139.588
131.070 132.879
133.237 134.905
137.704 139.603
105.920 106.296
126.886 128.986
130.637 133.128
104.753 104.758
137.649 139.866
137.612 140.173
137.896 138.722
134.553
136.967
141.872
107.217
129.868
134.139
104.948
142.632
143.333
139.890
N ovem ber
2008
D -1 1
S u r v e y o f C u r r e n t B u s in e s s
Table 1.5.5. Gross Domestic Product, Expanded Detail
Table 1.5.6. Real Gross Domestic Product, Expanded Detail, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Gross domestic product....
Personal consumption
expenditures............................
Durable goods........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other..................................
Nondurable goods...................
Food....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other...................................
Services...................................
Housing...............................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other..................................
Gross private domestic
investment.................................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment...........
Software' ...............
Other.......................
Industrial equipment....
Transportation
equipment...............
Other equipment.........
Residential..........................
Change in private inventories...
Farm...................................
Nonfarm..............................
Net exports of goods and
services.....................................
Exports...................................
Goods.................................
Services.............................
Imports...................................
Goods.................................
Services..............................
Government consumption
expenditures and gross
investment.................................
Federal...................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense........................
Consumption expenditures
Gross investment.............
State and local........................
Consumption expenditures...
Gross investment.................
III
Seasonally adjusted at annual rates
2008
IV
I
Line
2007
II
1 13,178.4 13,807.5 13,737.5 13,950.6 14,031.2 14,150.8 14,294.5
2007
II
Gross domestic product....
Personal consumption
expenditures............................
2
3
4
9,207.2
9,710.2
9,657.5
9,765.6
9,892.7 10,002.3 10,138.0
1,052.1
434.0
1,082.8
440.4
1,085.3
444.0
1,086.2
437.9
1,083.0
437.8
1,071.0
424.7
1,059.3
400.6
5
6
7
8
9
403.5
214.6
2,685.2
1,257.4
360.2
415.3
227.0
2,833.0
1,329.1
374.0
415.2
226.2
2,817.7
1,321.2
372.9
417.2
231.1
2,846.6
1,337.9
375.4
415.3
229.9
2,906.2
1,359.8
373.2
415.1
231.3
2,950.7
1,380.5
375.5
423.0
235.7
3,026.2
1,416.3
382.4
10
11
12
13
14
15
16
17
18
19
20
336.2
731.4
5,469.9
1,388.7
502.4
209.6
292.9
341.2
1,575.8
380.1
1,281.6
366.9
762.9
5,794.4
1,460.9
525.7
218.8
306.9
357.0
1,681.1
403.4
1,366.3
362.7
761.0
5,754.4
1,453.8
524.0
219.0
305.0
354.2
1,663.0
402.0
1,357.4
367.1
766.1
5,832.8
1,466.9
526.9
218.3
308.6
360.4
1,690.2
405.9
1,382.5
405.3
767.9
5,903.5
1,482.7
534.3
221.1
313.2
362.9
1,721.9
409.7
1,392.0
423.7
771.1
5,980.6
1,495.1
541.7
228.1
313.6
368.8
1,746.6
408.2
1,420.2
441.8
785.7
6,052.5
1,508.8
554.5
236.3
318.1
372.9
1,769.3
412.3
1,434.6
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other...................................
Nondurable goods...................
Food....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other...................................
Services...
Housing...............................
Household operation............
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other...................................
21
22
23
24
25
2,220.4
2,130.4
2,147.2
2,164.0
2,092.3
2,056.1
2,000.9
Gross private domestic
investment.................................
2,171.1
1,414.1
410.4
1,003.7
2,134.0
1,503.8
480.3
1,023.5
2,148.1
1,493.7
469.8
1,023.9
2,141.0
1,522.9
492.9
1,030.0
2,113.4
1,542.1
508.7
1,033.4
2,081.7
1,553.6
522.7
1,030.9
2,077.0
1,571.9
549.8
1,022.1
26
482.3
517.7
514.1
521.1
532.5
539.6
550.9
?!
28
29
30
88.8
205.7
187,8
171.2
93.7
227.3
196.8
180.6
92.8
225.8
195.5
185.1
93.7
229.5
197.9
185.2
95.7
235.6
201.2
179.9
95.8
241.8
202.0
182.0
96.8
244.6
209.5
183.2
31
32
33
34
3b
36
177.0
173.1
757.0
49.3
-3.9
53.3
157.2
168.0
630.2
-3.6
1.6
-5.2
157.8
166.9
654.4
-0.9
2.9
-3.8
154.6
169.2
618.1
23.0
-0.2
23.2
148.4
172.6
571.3
-21.1
5.7
-26.7
142.1
167.3
528.1
-25.6
0.2
-25.8
121.4
166.5
505.0
-76.0
-4.1
-71.9
Software 2................
Other........................
Industrial equipment....
Transportation
equipment................
Other equipment..........
Residential...........................
Change in private inventories...
Farm...................................
Nonfarm..............................
3/
38
39
40
41
42
43
-757.3
-707.8
-723.1
-682.6
-696.7
-705.7
-718.2
Net exports of goods and
services.....................................
1,480.8
1,032.1
448.7
2,238.1
1,882.7
355.4
1,662.4
1,149.2
513.2
2,370.2
1,985.2
385.1
1,614.4
1,116.8
497.6
2,337.5
1,957.1
380.5
1,714.9
1,181.2
533.8
2,397.5
2,005.4
392.1
1,759.7
1,213.7
546.0
2,456.5
2,060.9
395.6
1,820.8
1,256.9
563.9
2,526.5
2,118.0
408.5
1,923.2
1,343.7
579.5
2,641.4
2,225.5
415.9
Exports...................................
Goods.................................
Services..............................
Imports....................................
Goods.................................
Services..............................
2,508.1
2,674.8
2,655.9
2,703.5
2,742.9
2,798.1
2,873.7
Government consumption
expenditures and gross
investment.................................
932.2
624.1
544.6
79.5
308.0
267.2
40.8
1,575.9
1,269.6
306.3
979.3
662.2
580.1
82.1
317.1
276.0
41.1
1,695.5
1,355.9
339.6
974.6
656.8
574.8
82.1
317.8
276.4
41.4
1,681.3
1,344.4
336.9
994.0
675.6
591.9
83.7
318.3
277.2
41.2
1,709.5
1,365.3
344.2
998.3
679.3
594.7
84.6
319.0
276.9
42.1
1,744.6
1,395.2
349.4
1,026.5
699.9
613.8
86.1
326.6
284.2
42.4
1,771.6
1,426.3
345.3
1,056.1
723.3
629.0
94.3
332.9
289.2
43.7
1,817.6
1,462.7
354.9
44
45
46
47
48
49
50
51
52
53
54
2006
Fixed investment......................
Nonresidential......................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
Federal....................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Gross investment.............
State and local.........................
Consumption expenditures...
Gross investment.................
Residual......................................
2008
III
IV
I
II
1 11,294.8 11,523.9 11,491.4 11,625.7 11,620.7 11,646.0 11,727.4
2
3
4
8,029.0
8,252.8
8,237.3
8,278.5
8,298.2
8,316.1
8,341.3
1,185.1
437.9
1,242.4
446.7
1,242.3
451.3
1,249.4
443.5
1,250.6
442.6
1,237.0
430.2
1,228.3
407.2
5
6
7
8
9
550.2
218.0
2,335.3
1,090.1
394.4
594.0
228.3
2,392.6
1,110.5
412.9
588.3
227.7
2,391.5
1,110.1
412.2
600.8
232.9
2,398.6
1,110.9
416.6
606.6
230.8
2,400.2
1,118.7
413.2
609.3
229.4
2,397.9
1,122.4
416.3
629.6
230.8
2,420.7
1,133.6
427.2
10
11
12
13
14
15
16
17
18
19
20
196.5
666.1
4,529.9
1,154.6
413.5
148.3
266.1
293.7
1,290.2
320.7
1,055.9
198.1
687.3
4,646.2
1,171.7
421.2
151.1
270.9
299.2
1,327.8
335.0
1,089.9
198.0
687.1
4,632.7
1,170.4
419.8
150.6
270.0
298.8
1,319.4
334.6
1,088.4
197.9
690.5
4,659.8
1,172.5
421.5
151.0
271.3
300.5
1,331.4
336.6
1,096.0
197.0
687.9
4,676.1
1,175.9
424.0
151.2
273.9
299.9
1,344.5
336.3
1,093.9
194.0
684.8
4,704.3
1,177.3
425.9
154.0
272.5
301.2
1,360.8
332.3
1,105.0
190.8
695.1
4,712.1
1,182.3
421.3
149.6
273.2
298.9
1,370.3
333.4
1,104.0
21
22
23
24
25
1,912.5
1,809.7
1,822.9
1,838.7
1,781.3
1,754.7
1,702.0
1,865.5
1,318.2
270.3
1,061.0
1,808.5
1,382.9
304.6
1,078.9
1,821.3
1,373.8
298.9
1,077.9
1,817.0
1,402.9
313.2
1,087.5
1,788.2
1,414.7
319.7
1,090.1
1,762.4
1,423.1
326.4
1,088.6
1,754.9
1,431.8
340.5
1,074.7
26
596.6
653.9
647.3
660.9
677.6
689.6
702.9
•>:
28
29
30
215.5
206.7
153.5
237.0
218.0
155.7
235.7
216.2
160.3
239.4
219.6
159.1
245.1
223.5
153.1
251.0
223.6
153.4
252.3
230.6
152.0
31
32
33
34
35
36
159.5
156.5
552.9
42.3
-3.2
46.3
139.4
148.4
453.8
-2.5
1.0
-3.7
139.4
147.5
471.7
-2.8
-0.1
-2.6
137.4
149.2
445.3
16.0
-2.5
19.2
131.9
151.5
411.6
-8.1
10.5
-20.6
127.0
146.5
383.0
-10.2
6.0
-17.9
108.6
145.3
369.6
-50.6
2.4
-55.1
3/
38
39
40
41
42
43
-615.7
-546.5
-571.2
-511.8
-484.5
-462.0
-381.3
1,314.8
928.7
386.3
1,930.5
1,649.0
283.7
1,425.9
998.7
426.9
1,972.4
1,677.7
296.4
1,392.2
974.9
417.0
1,963.4
1,671.2
293.9
1,466.2
1,024.1
441.8
1,978.0
1,681.1
298.4
1,482.1
1,037.0
444.7
1,966.5
1,670.2
297.8
1,500.6
1,048.6
451.7
1,962.6
1,662.0
301.8
1,544.7
1,088.9
455.8
1,926.0
1,631.6
295.5
1,971.2
2,012.1
2,006.4
2,025.3
2,029.4
2,039.1
2,058.9
741.0
490.0
415.0
76.7
250.8
212.2
39.3
1,230.2
988.2
241.8
-99.7
752.9
502.1
425.8
78.0
250.4
211.7
39.3
1,259.0
1,008.0
250.9
-152.7
749.6
498.8
422.4
78.3
250.5
211.5
39.6
1,256.6
1,006.1
250.3
-145.3
762.7
511.0
433.5
79.3
251.2
212.4
39.4
1,262.6
1,010.0
252.5
-158.2
761.7
509.9
431.9
79.9
251.5
212.0
40.2
1,267.5
1,013.9
253.4
-171.9
772.6
518.9
439.7
81.0
253.2
213.5
40.5
1,266.7
1,017.6
249.0
-178.7
785.0
528.1
443.4
87.9
256.3
215.6
41.6
1,274.4
1,020.6
253.7
-191.6
44
45
46
47
48
49
50
51
52
53
54
55
1. Excludes software “embedded,” orbund ed, in comp uters and ther equipnnent.
1. The quantity index for computers can be used to accurately measure the real growth of this component. However,
because computers exhibit rapid changes in prices relative to other prices in the economy, the chained-dollar estimates
should not be used to measure the component’s relative importance or its contribution to the growth rate of more aggre
series; accurate estimates of these contributions are shown in table 1.5.2 and real growth rates are shown in table 1.5.1.
2. Excludes software “embedded," or bundled, in computers and other equipment.
Note. The residual line is the difference between the first line and the sum of the most detailed lines.
National Data
D -1 2
N ovem ber
Table 1.6.4. Price Indexes for
Gross Domestic Purchases
Table 1.6.7. Percent Change From Preceding Period in Prices for
Gross Domestic Purchases
[Index numbers, 2000=100]
[Percent]
Seasonally adjusted
Line
2006
2007
2007
II
Gross domestic purchases...
Personal consumption
expenditures.............................
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other...................................
Nondurable goods...................
Food...................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other..................................
Services.................................
Housing..............................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation...........................
Other...................................
Gross private domestic
investment.................................
Fixed investment......................
Nonresidential.....................
Structures........................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment...........
Software 1...............
Other.......................
Industrial equipment....
Transportation
equipment...............
Other equipment.........
Residential...........................
Change in private inventories...
Farm...................................
Government consumption
expenditures and gross
investment.................................
Federal...................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Gross investment.............
State and local........................
Consumption expenditures
Gross investment.............
III
1 117.066 120.294 119.908 120.571
Seasonally adjusted at annual rates
2008
IV
I
Line
121.766 122.821 124.103
2 114.675 117.659 117.246 117.969 119.221 120.283 121.544
3 88.772 87.154 87.365 86.938 86.598 86.581
86.237
4 99.099 98.589 98.367 98.737 98.919 98.698 98.382
171.084
109.796
120.752
120.281
121.503
141.370
110.042
116.172
122.136
118.532
121.376
231.457
113.027
128.450
127.623
131.604
157.995
116.476
124.768
129.127
123.699
129.950
21
22
23
24
25
116.102 117.735 117.659 117.566 117.960 117.815 117.926
Gross private domestic
investment.................................
26
185.479
110.946
125.179
125.110
125.018
144.522
113.745
119.935
126.962
120.595
126.145
205.630
111.638
126.253
126.086
126.005
146.182
114,354
121.004
128.078
121.833
127.259
218.289
112.598
127.133
126.994
127.183
148.139
115.093
122.455
128.364
122.851
128.529
116.380 117.995 117.945 117.836 118.189 118.117 118.353
107.277 108.739 108.730 108.558 109.015 109.177 109.788
151.822 157.662 157.195 157.402 159.138 160.182 161.496
94.594 94.870 94.992 94.712 94.798 94.700 95.101
80.851
79.170
79.412
78.830
78.586
78.245
78.370
37.024 36.297
2 / 44.779 40.062 40.668 39.308 38.391
28 95.464 95.888 95.817 95.850 96.147 96.339 96.976
29 90.860 90.278 90.424 90.097 90.047 90.345 90.863
30 111.551 115.968 115.490 116.383 117.484 118.620 120.525
31 110.916 112.762 113.210 112.494 112.519 111.871 111.849
32 110.642 113.222 113.117 113.376 113.933 114.175 114.579
33 136.897 138.884 138.733 138.820 138.803 137.900 136.687
34
35
36
3 / 127.239 132.941 132.386 133.497 135.174 137.237 139.588
38
39
40
41
42
43
44
45
46
47
125.806
127.381
131.213
103.657
122.803
125.964
103.916
128.109
128.485
126.675
130.076
131.874
136.220
105.255
126.636
130.378
104.556
134.671
134.517
135.383
130.037
131.701
136.085
104.874
126.869
130.659
104.529
133.806
133.634
134.590
130.342
132.232
136.573
105.625
126.721
130.499
104.446
135.400
135.190
136.337
131.070
133.237
137.704
105.920
126.886
130.637
104.753
137.649
137.612
137.896
132.879
134.905
139.603
106.296
128.986
133.128
104.758
139.866
140.173
138.722
134.553
136.967
141.872
107.217
129.868
134.139
104.948
142.632
143.333
139.890
2007
Fixed investment......................
Nonresidential.....................
S tru c tu re s.......................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment............
Software 1................
Other........................
Industrial equipment....
Transportation
equipment................
Other equipment..........
Residential..........................
Government consumption
expenditures and gross
investment.................................
Federal....................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Gross investment.............
State and local........................
Consumption expenditures
Gross investment.............
I
II
2.2
4.0
2.6
3.6
2.5
4.3
3.6
4.3
-1.8
-0.5
-1.6
0.1
-1.9
1.5
-1.6
0.7
-0.1
-0.9
-1.6
-1.3
-4.6
1.0
3.0
3.8
-0.8
-4.0
-0.6
6.4
4.5
-4.4
-6.2
-0.5
2.9
4.8
-1.6
-5.5
1.5
8.4
3.7
0.9
-1.9
4.9
6.7
4.9
-0.5
-5.5
5.3
6.5
6.4
-3.0
12.6
1.9
3.5
3.6
5.2
8.9
2.6
3.1
3.0
3.0
3.5
8.3
1.1
3.3
3.7
2.7
2.4
2.9
2.7
3.7
1.6
3.3
45.3
0.1
3.3
3.0
4.6
6.7
3.1
2.7
2.4
3.5
4.6
5.3
0.7
3.1
2.9
0.7
-2.4
2.9
4.7
2.9
1.5
4.6
51.1
2.5
3.5
3.2
3.2
4.7
2.2
3.6
3.6
4.2
3.6
27.0
3.5
2.8
2.9
3.8
5.5
2.6
4.9
0.9
3.4
4.1
26.4
1.5
4.2
2.0
14.6
29.4
4.9
7.8
2.4
2.8
4.5
4.2
1.4
-0.3
-0.3
1.3
-0.5
0.4
4.2
3.3
12.3
0.1
1.4
1.4
3.8
0.3
-0.2
0.3
0.7
0.1
-0.4
-0.6
0.5
-1.2
1.2
1.7
4.5
0.4
-0.2
0.6
2.7
-0.4
0.8
2.3
3.3
1.7
26
-2.1
-2.1
-2.2
-2.9
-1.2
-1.7
0.6
2/
28
29
30
-12.9
1.3
-0.3
3.2
-10.5
0.4
-0.6
4.0
-11.1
0.3
-0.5
3.4
-12.7
0.1
-1.4
3.1
-9.0
1.2
-0.2
3.8
-13.5
0.8
1.3
3.9
-7.6
2.7
2.3
6.6
31
32
33
34
35
3fi
0.9
2.3
5.9
1.7
2.3
1.5
1.4
2.4
-1.3
-2.5
0.9
0.3
0.1
2.0
0.0
-2.3
0.9
-2.6
-0.1
1.4
-3.5
3/
38
39
40
41
42
43
44
45
46
47
4.7
4.5
5.2
3.4
5.1
6.2
7.0
4.1
4.5
4.8
2.0
3.4
3.7
1.5
5.1
4.8
6.3
3.4
3.5
3.8
1.5
3.1
3.5
0.6
5.1
4.7
6.9
3.7
4.3
4.7
1.0
2.6
2.9
0.1
6.1
6.2
5.8
0.9
1.6
1.4
2.9
-0.5
-0.5
-0.3
4.9
4.7
5.3
2.3
3.1
3.4
1.1
0.5
0.4
1.2
6.8
7.4
4.7
5.6
5.1
5.6
1.4
6.8
7.8
0.0
6.6
7.7
2.4
5.1
6.3
6.7
3.5
2.8
3.1
0.7
8.1
9.3
3.4
48
-13.9
-10.8
-10.9
-14.1
-12.3
-10.8
-9.7
49
50
51
3.6
2.3
11.3
2.9
3.8
6.2
3.5
4.6
30.5
2.4
4.8
2.6
4.2
4.3
35.1
3.7
4.7
24.2
4.4
6.1
35.5
52
53
3.1
3.2
2.4
2.7
1.8
2.0
1.9
1.5
2.4
2.8
2.2
2.6
2.2
1.1
54
55
3.4
2.2
2.8
4.3
2.1
4.6
1.7
5.3
3.0
6.0
2.7
7.2
1.2
7.3
56
6.9
3.0
1.5
-17.4
6.1
7.0
-26.2
57
58
3.2
3.2
2.5
2.7
1.7
2.0
1.8
1.5
2.4
2.8
2.0
2.7
1.5
1.2
59
3.4
2.8
3.3
2.2
4.0
3.5
4.3
2
3
4
2.8
-1.3
0.6
5
6
7
8
9
-4.6
0.8
3.0
2.3
-0.4
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
2.8
2008
IV
3.3
1
3.4
III
3.5
4.2
Addenda:
48
38.206
34.096
34.758
33.465
32.388
31.478
30.688
49 118.561 122.010 121.588 122.316 123.584 124.703 126.052
50 115.149 119.572 118.879 120.284 121.569 122.979 124.814
51 161.394 171.369 170.218 171.305 184.703 194.992 210.365
b2 115.371 118.194 117.872 118.437 119.129 119.770 120.421
53 116.676 119.819 119.531 119.984 120.826 121.613 121.951
54 117.855 121.184 120.861 121.376 122.275 123.102 123.482
55 115.457 120.469 119.582 121.143 122.921 125.086 127.311
56 135.401
139.410 142.349 135.717 137.744 140.086 129.829
5/ 116.243 119.152 118.839 119.371 120.074 120.661 121.111
58 116.710 119.853 119.569 120.020 120.856 121.653 122.008
59 117.101
120.329 119.946 120.609 121.798 122.863 124.160
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
Gross domestic purchases....
Personal consumption
expenditures............................
10
11
12
13
14
15
16
17
18
19
20
69.924 70.554 69.426 68.445 68.115 67.161
5 73.331
99.348 99.232 99.608 100.809 102.109
6 98.460 99.421
7 114.984 118.407 117.830 118.682 121.092 123.059 125.021
8 115.344 119.682 119.023 120.440 121.553 123.007 124.943
90.203 89.520
9 91.332 90.595 90.468 90.114 90.311
183.081
110.752
124.218
124.217
124.814
145.416
112.933
118.559
126.049
120.141
124.720
2007
II
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other...................................
Nondurable goods...................
Food....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other...................................
Services..................................
Housing...............................
Household operation............
Electricity and gas...........
Other household operation
Transportation......................
Medical care........................
Recreation..........................
Other...................................
185.237
111.013
124.712
124.679
124.813
144.797
113.275
119.318
126.601
120.418
125.365
2006
II
Addenda:
Final sales of computers to
domestic purchasers 2 ........
Gross domestic purchases
excluding final sales of
computers to domestic
purchasers..........................
Food.......................................
Energy goods and services.....
Gross domestic purchases
excluding food and energy....
Gross domestic product..........
Gross domestic product
excluding final sales of
computers...................
Food................................
Energy goods and
services.......................
Gross domestic product
excluding food and
energy .........................
Final sales of domestic product
Final sales to domestic
purchasers...........................
2008
Final sales of computers to
domestic purchasers 2.........
Gross domestic purchases
excluding final sales of
computers to domestic
purchasers...........................
Food........................................
Energy goods and services.....
Gross domestic purchases
excluding food and energy....
Gross domestic product...........
Gross domestic product
excluding final sales of
computers....................
Food................................
Energy goods and
services.......................
Gross domestic product
excluding food and
energy.........................
Final sales of domestic product
Final sales to domestic
purchasers..........................
1. Excludes software “embedded,” or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
Table 1.6.8. Contributions to Percent Change in the Gross Domestic
Purchases Price Index
D -1 3
Table 1.7.1. Percent Change from Preceding Period in Real Gross Domestic
Product, Real Gross National Product, and Real Net National Product
[Percent]
Seasonally adjusted at annual rates
ine
2006
2007
2007
II
IV
III
Seasonally adjusted at annual rates
2008
I
Line
II
2006
2007
II
Percent change at annual rate:
Gross domestic purchases...
1
3.4
2.8
3.3
2.2
4.0
3.5
4.2
Percentage points at annual
rates:
Personal consumption
expenditures..........................
Durable goods.........................
Motor vehicles and parts.....
Furniture and household
equipment........................
Other...................................
Nondurable goods...................
Food....................................
Clothing and shoes..............
Gasoline, fuel oil, and other
energy goods...................
Other..................................
Services.................................
Housing..............................
Household operation...........
Electricity and gas...........
Other household operation
Transportation......................
Medical care.......................
Recreation..........................
Other..................................
Gross private domestic
investment.............................
Fixed investment......................
Nonresidential.....................
Structures.......................
Equipment and software...
Information processing
equipment and
software...................
Computers and
peripheral
equipment...........
Software 1...............
Other.......................
Industrial equipment....
Transportation
equipment...............
Other equipment.........
Residential...........................
Change in private inventories...
Farm...................................
Nonfarm..............................
Government consumption
expenditures and gross
investment..............................
Federal...................................
National defense..................
Consumption expenditures
Gross investment.............
Nondefense.........................
Consumption expenditures
Gross investment.............
State and local.........................
Consumption expenditures
Gross investment.............
Addenda:
Final sales of computers to
domestic purchasers 2 ........
Gross domestic purchases
excluding final sales of
computers to domestic
purchasers..........................
Food.......................................
Energy goods and services.....
Gross domestic purchases
excluding food and energy....
2
3
4
1.84
1.73
2.42
1.66
2.88
2.43
2.87
-0.11
0.02
-0.14
-0.02
-0.12
0.00
-0.15
0.05
-0.11
0.02
-0.01
-0.03
-0.11
-0.04
5
6
7
8
9
-0.14
0.01
0.58
0.21
-0.01
-0.14
0.02
0.58
0.34
-0.02
-0.12
-0.01
1.21
0.41
-0.12
-0.18
-0.01
0.56
0.44
-0.04
-0.16
0.02
1.60
0.34
0.02
-0.05
0.08
1.30
0.45
-0.01
-0.16
0.08
1.29
0.60
-0.08
10
11
12
13
14
15
16
17
18
19
20
0.29
0.10
1.36
0.36
0.19
0.13
0.06
0.08
0.34
0.08
0.33
0.20
0.06
1.29
0.36
0.10
0.04
0.06
0.07
0.42
0.04
0.31
0.91
0.01
1.33
0.30
0.17
0.10
0.07
0.07
0.27
0.10
0.43
0.13
0.04
1.24
0.29
0.02
-0.04
0.06
0.11
0.33
0.04
0.43
1.10
0.13
1.39
0.32
0.12
0.07
0.05
0.09
0.41
0.12
0.34
0.68
0.18
1.13
0.29
0.14
0.08
0.06
0.12
0.11
0.09
0.38
0.69
0.08
1.69
0.20
0.51
0.41
0.10
0.19
0.28
0.08
0.43
21
22
23
24
25
0.67
0.22
-0.05
-0.04
0.20
-0.07
0.05
0.66
0.33
0.32
0.00
0.21
0.14
0.12
0.02
-0.03
0.03
0.03
0.01
-0.05
-0.06
0.02
-0.08
0.18
0.18
0.15
0.03
-0.03
0.06
0.09
-0.03
0.11
0.23
0.12
0.12
26
-0.07
-0.08
-0.08
-0.10
-0.04
-0.06
0.02
27
28
29
30
-0.09
0.02
0.00
0.04
-0.07
0.01
-0.01
0.05
-0.08
0.00
0.00
0.04
-0.09
0.00
-0.02
0.04
-0.06
0.02
0.00
0.05
-0.09
0.01
0.02
0.05
-0.05
0.04
0.03
0.08
31
32
33
34
35
36
0.01
0.03
0.33
0.01
0.00
0.02
0.02
0.03
0.07
0.01
0.00
0.01
0.02
0.03
-0.06
-0.02
0.00
-0.02
-0.03
0.01
0.01
0.01
0.00
0.01
0.00
0.02
0.00
0.02
0.01
0.01
-0.02
0.01
-0.10
-0.03
0.04
-0.08
0.00
0.02
-0.12
-0.06
-0.03
-0.03
37
38
39
40
41
42
43
44
45
46
47
0.85
0.81
0.95
0.62
0.94
1.15
1.32
0.27
0.20
0.19
0.01
0.08
0.07
0.00
0.57
0.44
0.14
0.23
0.16
0.15
0.01
0.07
0.07
0.00
0.58
0.43
0.15
0.25
0.19
0.19
0.01
0.06
0.06
0.00
0.70
0.57
0.13
0.06
0.07
0.06
0.02
-0.01
-0.01
0.00
0.56
0.44
0.12
0.15
0.14
0.14
0.01
0.01
0.01
0.00
0.79
0.68
0.11
0.38
0.24
0.23
0.01
0.15
0.15
0.00
0.77
0.72
0.06
0.36
0.29
0.27
0.02
0.06
0.06
0.00
0.96
0.88
0.08
48
-0.16
-0.12
-0.12
-0.16
-0.14
-0.12
-0.11
Gross domestic product............
Plus: Income receipts from the
rest of the world......................
Less: Income payments to the rest
of the world.............................
Equals: Gross national product
Less: Consumption of fixed capital
Private........................
Government.................
General government
Government
enterprises..........
2008
III
I
IV
II
1
2.8
2.0
4.8
4.8
-0.2
0.9
2.8
2
22.5
15.7
32.1
21.1
0.4
-28.0
-13.0
3
30.5
14.3
45.1
-5.3
-23.5
-21.8
-2.5
4
5
6
7
8
2.6
2.2
4.4
6.3
1.3
0.1
2.1
-3.1
-4.0
1.5
3.1
3.7
3.9
3.0
3.1
3.9
4.1
3.0
3.0
4.7
5.1
2.8
2.8
5.5
6.1
2.7
2.7
8.0
9.1
2.6
2.6
6.4
7.0
3.5
3.5
9
-5.7
2.9
3.0
2.9
2.6
2.6
3.6
Equals: Net national product....
Addenda:
10
3.5
2.0
4.4
6.6
0.7
-1.0
1.5
Gross domestic income 1........
Gross national income 2..........
Net domestic product...............
Net domestic income 3 ............
11
12
13
14
3.5
3.3
3.7
4.4
1.4
1.5
1.8
1.1
3.3
2.9
4.9
3.3
0.7
2.2
4.8
0.2
-0.8
0.7
-1.0
-1.6
-0.5
-1.3
-0.1
-1.7
1.8
1.1
2.3
1.2
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
2. Gross national income deflated by the implicit price deflator for gross national product.
3. Net domestic income deflated by the implicit price deflator for net domestic product.
Table 1.7.3. Real Gross Domestic Product, Real Gross National Product,
and Real Net National Product, Quantity Indexes
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
II
Gross domestic product............
Plus: Income receipts from the
rest of the world......................
Less: Income payments to the rest
of the world.............................
Equals: Gross national product
Less: Consumption of fixed capital
Private........................
Government.................
General government
Government
enterprises..........
Equals: Net national product....
Addendum:
Net domestic product...............
III
2008
I
IV
II
1 115.054 117.388 117.056 118.425 118.374 118.631
2 162.549 188.098 186.613 195.771
3 161.192 184.231
4
5
6
7
8
119.460
195.944 180.516 174.333
192.907 190.305 177.954 167.341
166.304
115.284 117.795 117.104 118.913 119.302 119.329 119.950
121.791
122.731
117.032
116.639
126.321
127.463
120.585
120.211
125.466
126.513
120.182
119.808
126.919
128.093
121.028
120.651
128.631
129.996
121.844
121.472
131.133
132.871
122.626
122.253
133.184
135.137
123.699
123.318
9 119.224 122.684 122.282 123.145 123.935 124.726 125.837
10 114.406 116.652 115.982 117.838 118.054 117.763 118.201
11 114.143 116.187 115.924 117.280 117.000 116.966 117.639
Table 1.7.4. Price Indexes for Gross Domestic Product,
Gross National Product, and Net National Product
[Index numbers, 2000=100]
Seasonally adjusted
Line
49
50
51
3.51
0.21
0.52
2.88
0.35
0.30
3.44
0.42
1.32
2.39
0.44
0.13
4.16
0.41
1.58
3.63
0.44
1.21
4.35
0.57
1.79
52
2.63
2.10
1.59
1.66
2.03
1.85
1.88
1. Excludes software “embedded," or bundled, in computers and other equipment.
2. Some components of final sales of computers include computer parts.
2007
2006
2007
2007
II
Gross domestic product............
Plus: Income receipts from the
rest of the world.......................
Less: Income payments to the rest
of the world.............................
Equals: Gross national product
Less: Consumption of fixed capital
Private........................
Government.................
General government
Government
enterprises..........
Equals: Net national product....
Addendum:
Net domestic product...............
1 116.676 119.819 119.531
III
2008
IV
I
II
119.984 120.826 121.613 121.951
2 116.618 119.722 119.472 119.975 121.060 122.117 123.386
3 116.794 119.907 119.626
4 116.673 119.815 119.529
5 112.252 114.661 114.548
6 111.504 113.313 113.285
7 116.233 121.816 121.257
8 115.252 120.682 120.137
120.197 121.302 122.572 124.018
119.978 120.822 121.601 121.938
115.095
113.515
123.471
122.286
114.142
112.213
124.403
123.312
113.974
111.821
125.463
124.385
9 121.399 127.796 127.159 128.517 129.721
130.151
131.143
114.879
113.456
122.423
121.268
10 117.304 120.554 120.242 120.708 121.644 122.685 123.099
11 117.310 120.561
120.247 120.717 121.653 122.706 123.122
National Data
D -1 4
N ovem ber
2008
Table 1.7.5. Relation of Gross Domestic Product, Gross National Product, Net
National Product, National Income, and Personal Income
Table 1.7.6. Relation of Real Gross Domestic Product, Real Gross National
Product, and Real Net National Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Gross domestic product...............
Plus: Income receipts from the rest
of the world................................
Less: Income payments to the rest
of the world................................
Equals: Gross national product ...
Less: Consumption of fixed capital
Private...........................
Domestic business.....
Capital consumption
allowances.........
Less: Capital
consumption
adjustment.........
Households and
institutions..............
Government....................
General government....
Government
enterprises.............
Equals: Net national product........
Less: Statistical discrepancy.......
Equals: National income...............
Less: Corporate profits with
inventory valuation and capital
consumption adjustments...........
Taxes on production and
imports less subsidies....
Contributions for
government social
insurance........................
Net interest and
miscellaneous payments
on assets........................
Business current transfer
payments (net)...............
Current surplus of
government enterprises
Wage accruals less
disbursements................
Plus: Personal income receipts on
assets........................................
Personal current transfer
receipts...........................
Equals: Personal income..............
Addenda:
Gross domestic income..............
Gross national income................
Gross national factor income 1....
Net domestic product.................
Net domestic income..................
Net national factor income 2
III
Seasonally adjusted at annual rates
Line
2008
IV
I
725.4
861.7
852.8
898.5
907.4
843.2
1,006.1
1,055.5
1,051.6
1,059.4
1,067.2
1,286.0
822.8
1,295.2
Gross domestic product............
Plus: Income receipts from the
rest of the world.......................
Less: Income payments to the rest
of the world.............................
Equals: Gross national product
Less: Consumption of fixed capital
Private........................
Government.................
General government
Government
enterprises..........
9
-79.4
-91.5
-86.9
-95.1
-104.2
100.0
89.6
Equals: Net national product....
Addenda:
10
11
12
270.5
268.0
223.7
284.1
289.4
241.4
281.5
287.0
239.5
285.7
291.8
243.4
290.9
296.3
247.1
291.4
300.5
250.8
291.8
305.7
255.2
Gross domestic income 1........
Gross national income 2..........
Net domestic product...............
Net domestic income 3............
13
44.3
48.0
47.6
48.4
49.2
49.7
50.5
14 11,632.7 12,189.5 12,090.1 12,330.8 12,438.0 12,511.1 12,605.2
63.4
98.4
-81.4 -143.4
-7.8
13.9
-163.0
16 11,795.7 12,270.9 12,233.6 12,338.6 12,424.1 12,447.6 12,506.9
15
17
1,668.5
1,642.4
1,672.5
1,668.3
1,611.1
1,593.5
1,533.3
18
926.4
963.2
956.4
965.7
975.3
975.1
988.5
19
925.5
965.1
959.1
966.0
975.3
992.2
997.0
20
631.2
664.4
660.8
663.0
688.1
662.3
683.4
III
2008
IV
I
II
1 11,294.8 11,523.9 11,491.4 11,625.7 11,620.7 11,646.0 11,727.4
2
622.2
719.9
714.3
749.3
749.9
690.9
667.2
3
554.1
633.3
663.1
654.1
611.7
575.2
571.6
4 11,362.3 11,609.8 11,541.7 11,719.9 11,758.3 11,760.9 11,822.2
5 1,446.7 1,500.5 1,490.3 1,507.6 1,527.9 1,557.6 1,582.0
6 1,216.1 1,263.0 1,253.6 1,269.2 1,288.1 1,316.6 1,339.0
7
230.5
237.5
236.7
238.4
240.0
241.6
243.7
8
194.1
200.0
199.3
200.7
202.1
203.4
205.2
9
10
36.5
37.5
37.4
37.7
37.9
38.2
38.5
9,916.8 10,111.5 10,053.4 10,214.3 10,233.0 10,207.8 10,245.7
11 11,434.6 11,591.9 11,611.3 11,632.3
12 11,502.0 11,677.7 11,661.7 11,726.4
13 9,849.6 10,025.9 10,003.2 10,120.3
14 9,988.5 10,093.5 10,122.5 10,126.7
11,609.3
11,746.8
10,096.1
10,084.7
11,593.8
11,708.8
10,093.2
10,041.4
11,646.6
11,741.4
10,151.2
10,071.3
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
2. Gross national income deflated by the implicit price deflator for gross national product.
3. Net domestic income deflated by the implicit price deflator for net domestic product.
Note. Except as noted in footnotes 1, 2 and 3, chained (2000) dollar series are calculated as the product of the chain-type
quantity index and the 2000 current-dollar value of the corresponding series, divided by 100. Because the formula for the
chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not
additive.
Table 1.8.3. Command-Basis Real Gross National Product, Quantity Indexes
21
85.4
100.2
97.4
102.2
103.1
103.2
102.1
22
-8.6
-7.9
-8.5
-5.5
-6.7
-7.1
-7.7
23
1.3
-6.3
0.0
0.0
0.0
0.0
0.0
24
1,824.8
2,000.1
1,982.5
2,030.9
2,056.2
2,054.1
2,052.3
25
1,603.0
1,713.3
1,699.2
1,720.6
1,737.8
1,778.1
1,926.3
26 10,993.9 11,663.2 11,577.5 11,730.4 11,872.1 11,960.5 12,188.9
27
28
29
30
31
32
13,341.4
13,419.7
12,416.5
11,554.4
11,717.5
10,792.5
13,889.0
13,991.4
12,935.9
12,087.1
12,168.5
11,215.5
13,881.0
13,940.6
12,895.3
12,030.5
12,173.9
11,188.3
13,958.4
14,070.6
13,008.2
12,218.6
12,226.4
11,276.3
14,017.4
14,182.7
13,111.1
12,272.6
12,258.8
11,352.5
14,087.4
14,225.6
13,154.4
12,372.9
12,309.5
11,376.4
14,196.1
14,310.0
13,227.0
12,491.3
12,393.0
11,423.9
1. Consists of compensation of employees, proprietors’ income with inventory valuation adjustment (IVA) and capital
consumption adjustment (CCAdj), rental income of persons with CCAdj, corporate profits with IVA and CCAdj, net interest
and miscellaneous payments, and consumption of fixed capital.
2. Consists of gross national factor income less consumption of fixed capital.
2007
II
647.1
3
759.3
793.2
786.3
742.0
705.1
708.9
4 13,256.6 13,910.0 13,797.2 14,062.8 14,196.6 14,289.0 14,408.3
5 1,623.9 1,720.5 1,707.0 1,731.9 1,758.6 1,778.0 1,803.1
6 1,356.0 1,431.1 1,420.0 1,440.1 1,462.3 1,477.5 1,497.4
7 1,085.5 1,147.0 1,138.5 1,154.4 1,171.4 1,186.1 1,205.6
8
2007
II
1 13,178.4 13,807.5 13,737.5 13,950.6 14,031.2 14,150.8 14,294.5
2
2006
[Index numbers, 2000=100]
Seasonally adjusted
Line
Gross national product..............
Less: Exports of goods and
services and income receipts
from the rest of the world.........
Plus: Command-basis exports of
goods and services and income
receipts from the rest of the
world 1....................................
Equals: Command-basis gross
national product.......................
Addendum:
Percent change from preceding
period in command-basis
real gross national product...
2006
2007
2007
III
IV
118.913
119.302
119.329 119.950
150.337
151.448
148.662
1 115.284
117.795
117.104
2
145.597
142.938
131.369
2008
II
I
II
150.058
3
128.521
142.179
140.031
146.163
145.463
141.612
138.541
4
114.857
117.282
116.668
118.287 118.404
118.271
118.222
5
2.5
2.1
3.3
-0.4
-0.2
5.7
0.4
1.
Exports of goods and services and income receipts deflated by the implicit price deflator for imports of goods and
services and income payments.
Table 1.8.6. Command-Basis Real Gross National Product, Chained Dollars
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Gross national product..............
Less: Exports of goods and
services and income receipts
from the rest of the world.........
Plus: Command-basis exports of
goods and services and income
receipts from the rest of the
world 1....................................
Equals: Command-basis gross
national product.......................
Addendum:
Terms of trade 2.......................
III
2008
IV
I
II
1 11,362.3 11,609.8 11,541.7 11,719.9 11,758.3 11,760.9 11,822.2
2
1,942.9
2,153.3
2,114.0
2,223.4
2,239.8
2,198.6
2,219.3
3
1,900.8
2,102.7
2,071.0
2,161.7
2,151.4
2,094.4
2,049.0
4 11,320.2 11,559.2 11,498.7 11,658.3 11,669.8 11,656.8 11,651.9
5
97.832
97.652
97.969
97.226
96.051
95.261
92.328
1. Exports of goods and services and income receipts deflated by the implicit price deflator for imports of goods and
services and income payments.
2. Ratio of the implicit price deflator for exports of goods and services and income receipts to the corresponding implicit
price deflator for imports divided by 100.
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights
of more than one period, the corresponding chained-dollar estimates are usually not additive.
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -1 5
Table 1.10. Gross Domestic Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Gross domestic incom e.......................................................................................................................
Compensation of employees, paid.............................................................................................................
Wage and salary accruals...............................................................................................................
Disbursements.........
To persons...........
To the rest of the world............................................................................................................
Wage accruals less disbursements.............................................................................................
Supplements to wages and salaries................................................................................................
Taxes on production and imports................................................................................................................
Less: Subsidies...
Net operating surplus
Private enterprises..........................................................................................................................
Net interest and miscellaneous payments, domestic industries...................................................
Business current transfer payments (net)....................................................................................
Proprietors' income with inventory valuation and capital consumption adjustments.....................
Rental income of persons with capital consumption adjustment.................................................
Corporate profits with inventory valuation and capital consumption adjustments, domestic
industries................................................................................................................................
Taxes on corporate income.....................................................................................................
Profits after tax with inventory valuation and capital consumption adjustments......................
Net dividends......................................................................................................................
Undistributed corporate profits with inventory valuation and capital consumption
adjustments....................................................................................................................
Current surplus of government enterprises.....................................................................................
Consumption of fixed capital................
Private................................................
Government....................................................................................................................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
13,341.4
7,440.4
III
2008
IV
I
II
13,889.0
7,819.4
13,881.0
7,767.2
13,958.4
7,846.4
14,017.4
7,948.3
14,087.4
8,017.0
14,196.1
8,078.9
6,035.1
6,033.9
6,024.4
9.5
1.3
1,405.3
6,362.8
6,369.0
6,359.0
10.0
-6.3
1,456.6
6,317.7
6,317.7
6,307.7
10.0
0.0
1,449.4
6,384.8
6,384.8
6,374.8
10.1
0.0
1,461.6
6,472.8
6,472.8
6,462.5
10.3
0.0
1,475.5
6,525.2
6,525.2
6,515.0
10.2
0.0
1,491.7
6,575.8
6,575.8
6,565.6
10.2
0.0
1,503.1
976.2
49.7
3,350.6
1,015.5
52.3
3,386.0
1,012.3
55.9
3,450.3
1,019.2
53.5
3,414.4
1,027.7
52.3
3,335.2
1,025.8
50.6
3,317.4
1,039.4
50.8
3,325.5
3,359.2
813.8
85.4
1,014.7
44.3
3,393.9
899.6
100.2
1,056.2
40.0
3,458.8
897.0
97.4
1,050.2
44.6
3,419.9
900.1
102.2
1,063.8
41.8
3,341.9
936.7
103.1
1,073.8
38.6
3,324.5
915.4
103.2
1,071.7
39.1
3,333.3
935.8
102.1
1,076.9
58.6
1,401.0
468.9
932.1
628.8
1,297.8
450.4
847.4
671.1
1,369.7
468.5
901.1
661.7
1,311.9
451.1
860.8
662.2
1,189.7
433.5
756.3
706.6
1,195.1
402.9
792.1
654.9
1,159.8
406.8
753.0
681.6
21
22
303.3
-8.6
176.3
-7.9
239.4
-8.5
198.6
-5.5
49.7
-6.7
137.2
-7.1
71.4
-7.7
23
24
25
1,623.9
1,720.5
1,707.0
1,731.9
1,758.6
1,778.0
1,803.1
1,356.0
268.0
1,431.1
289.4
1,420.0
287.0
1,440.1
291.8
1,462.3
296.3
1,477.5
300.5
1,497.4
305.7
26
-163.0
-81.4
-143.4
-7.8
13.9
63.4
98.4
Addendum:
Statistical discrepancy....................................................................................................................
D-16
National Data
N ovem ber
Table 1.12. National Income by Type of Income
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
National incom e......................................................................................................................................
Compensation of employees
...............
Wage and salary accruals...............................................................................................................
Government..........
..............
Other...........................................................................................................................................
Supplements to wages and salaries................................................................................................
Employer contributions for employee pension and insurance funds............................................
Employer contributions for government social insurance.............................................................
Proprietors’ income with IVA and CCAdj...................................................................................................
Farm................................................................................................................................................
Nonfarm..........................................................................................................................................
Rental income of persons with CCAdj
Corporate profits with IVA and CCAdj
Taxes on corporate income..............
Profits after tax with IVA and CCAdj
Net dividends..............................................................................................................................
Undistributed profits with IVA and CCAdj.....................................................................................
Net interest and miscellaneous payments................................................................................................
Taxes on production and imports................................................................................................................
Less: Subsidies................................................................................................................................................
Business current transfer payments (net)
To persons (net)..............................................................................................................................
To government (net)........................
To the rest of the world (net).............
1
III
2008
IV
I
II
11,795.7
7,433.8
12,270.9
7,812.3
12,233.6
7,760.1
12,338.6
7,839.3
12,424.1
7,941.0
12,447.6
8,009.7
12,506.9
8,071.8
6,028.5
1,023.0
5,005.5
1,405.3
956.8
448.5
6,355.7
1,075.2
5,280.5
1,456.6
991.9
464.7
6,310.7
1,068.1
5,242.5
1,449.4
987.7
461.7
6,377.7
1,080.8
5,297.0
1,461.6
996.5
465.1
6,465.5
1,092.1
5.373.4
1,475.5
1,005.9
469.6
6,518.0
1,109.7
5,408.3
1,491.7
1,015.3
476.4
6,568.6
1,123.4
5,445.3
1,503.1
1,024.4
478.7
9
10
11
1,014.7
1,056.2
1,050.2
1,063.8
1,073.8
1,071.7
1,076.9
16.2
998.6
44.0
1,012.2
42.3
1,007.9
47.4
1,016.4
47.1
1,026.7
41.6
1,030.1
38.0
1,039.0
12
44.3
1,668.5
40.0
1,642.4
44.6
1,672.5
41.8
1,668.3
38.6
1,611.1
39.1
1,593.5
58.6
1,533.3
468.9
1,199.6
702.1
497.5
450.4
1,192.0
788.7
403.4
468.5
1,204.0
779.2
424.8
451.1
1,217.3
797.6
419.7
433.5
1,177.6
816.4
361.2
402.9
1,190.6
832.5
358.1
406.8
1,126.5
846.4
280.0
631.2
976.2
49.7
85.4
664.4
1,015.5
52.3
100.2
660.8
1,012.3
55.9
97.4
663.0
1,019.2
53.5
102.2
688.1
1,027.7
52.3
103.1
662.3
1,025.8
50.6
103.2
683.4
1,039.4
50.8
102.1
24.9
57.9
2.5
31.9
61.4
6.9
31.7
61.1
4.6
32.5
61.5
8.1
33.1
62.1
8.0
32.2
63.0
8.0
32.4
63.6
6.1
2
3
4
5
6
I
8
13
14
15
16
17
18
19
20
21
22
23
24
Current surplus of government enterprises.............................................................................................
Cash flow:
25
-8.6
-7.9
-8.5
-5.5
-6.7
-7.1
-7.7
Net cash flow with IVA and CCAdj...................................................................................................
Undistributed profits with IVA and CCAdj.....................................................................................
Consumption of fixed capital........................................................................................................
Less: Inventory valuation adjustment...............................................................................................
Equals: Net cash flow......................................................................................................................
26
27
28
29
3U
1,390.3
497.5
892.8
-39.5
1,429.8
1,348.7
403.4
945.3
-51.2
1,399.9
1,363.2
424.8
938.4
-55.3
1,418.5
1,371.4
419.7
951.8
-31.0
1,402.5
1,326.9
361.2
965.7
-74.1
1,401.0
1,337.0
358.1
978.8
-109.4
1,446.3
1,276.5
280.0
996.5
-154.0
1,430.5
31
32
33
34
3b
36
3/
3b
39
40
41
42
43
44
45
46
47
48
49
50
1,014.7
16.2
23.3
-7.2
998.6
892.5
-3.8
109.9
44.3
60.7
-16.4
1,668.5
1,834.2
1,873.7
468.9
1,404.8
702.1
702.7
-39.5
-165.7
1,056.2
44.0
51.5
-7.5
1,012.2
893.5
-6.8
125.5
40.0
56.8
-16.8
1,642.4
1,835.1
1,886.3
450.4
1,435.9
788.7
647.3
-51.2
-192.7
1,050.2
42.3
49.7
-7.4
1,007.9
891.0
-7.3
124.1
44.6
61.2
-16.6
1,672.5
1,859.5
1,914.8
468.5
1,446.3
779.2
667.1
-55.3
-187.0
1,063.8
47.4
54.9
-7.5
1,016.4
893.3
-3.9
127.0
41.8
58.6
-16.8
1,668.3
1,866.1
1,897.1
451.1
1,446.1
797.6
648.5
-31.0
-197.8
1,073.8
47.1
54.8
-7.7
1,026.7
907.0
-10.0
129.7
38.6
55.7
-17.0
1,611.1
1,820.2
1.894.3
433.5
1,460.9
816.4
644.5
-74.1
-209.2
1,071.7
41.6
49.4
-7.8
1,030.1
871.0
-13.5
172.6
39.1
55.9
-16.8
1,593.5
1,641.5
1,750.9
402.9
1,348.0
832.5
515.5
-109.4
-48.0
1,076.9
38.0
45.9
-7.9
1,039.0
881.9
-19.7
176.7
58.6
75.1
-16.5
1,533.3
1,596.0
1,750.0
406.8
1,343.2
846.4
496.7
-154.0
-62.7
Addenda:
Proprietors’ income with IVA and CCAdj..........................................................................................
Farm............................................................................................................................................
Proprietors’ income with IVA...................................................................................................
Capital consumption adjustment..........
Nonfarm..................................................
Proprietors' income (without IVA and CCAdj)..........................................................................
Inventory valuation adjustment................................................................................................
Capital consumption adjustment..........
Rental income of persons with CCAdj..........
Rental income of persons (without CCAdj)..................................................................................
Capital consumption adjustment..................................................................................................
Corporate profits with IVA and CCAdj..........
Corporate profits with IVA........................
Profits before tax (without IVA and CCAdj)..............................................................................
Taxes on corporate income.................................................................................................
Profits after tax (without IVA and CCAdj).............................................................................
Net dividends..................................................................................................................
Undistributed profits (without IVA and CCAdj).................................................................
Inventory valuation adjustment................................................................................................
Capital consumption adjustment..................................................................................................
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
2008
N ovem ber
2008
D -1 7
S u r v e y o f C u r r e n t B u s in e s s
Table 1.14. Gross Value Added of Domestic Corporate Business in Current Dollars and Gross Value Added of Nonfinancial
Domestic Corporate Business in Current and Chained Dollars
[Billions of dollars]
Seasonally adjusted at annual rates
2006
2007
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
7,962.5
8,195.3
8,219.9
8,235.9
8,207.1
8,233.3
8,258.0
892.8
7,069.7
4,876.2
4,013.0
863.3
640.8
1,552.7
95.2
56.5
1,401.0
468.9
932.1
628.8
303.3
945.3
7,249.9
5,110.1
4,223.6
886.5
663.9
1,476.0
100.5
77.8
1,297.8
450.4
847.4
671.1
176.3
938.4
7,281.6
5,075.5
4,193.3
882.3
661.7
1,544.4
100.0
74.7
1,369.7
468.5
901.1
661.7
239.4
951.8
7,284.2
5,125.4
4,236.8
888.6
666.4
1,492.4
100.1
80.4
1,311.9
451.1
860.8
662.2
198.6
965.7
7,241.4
5,194.4
4,298.0
896.4
672.1
1,374.9
103.6
81.6
1,189.7
433.5
756.3
706.6
49.7
978.8
7,254.5
5,222.3
4,316.6
905.7
670.4
1,361.8
100.6
66.1
1,195.1
402.9
792.1
654.9
137.2
996.5
7,261.5
5,253.1
4,342.6
910.4
678.8
1,329.6
105.2
64.7
1,159.8
406.8
753.0
681.6
71.4
16
1,099.1
6,863.4
1,120.2
7,075.1
1,153.2
7,066.7
1,137.3
7,098.6
1,071.6
7,135.5
1,114.0
7,119.3
1,089.7
7,168.2
775.2
6,088.3
4,316.8
3,548.2
768.6
591.1
1,180.3
169.6
71.8
939.0
309.3
629.7
474.4
155.3
822.3
6,252.8
4,525.3
3,734.2
791.1
611.9
1,115.5
179.4
68.1
868.1
321.1
547.0
503.4
43.5
816.0
6,250.7
4,497.4
3,710.0
787.3
609.9
1,143.5
178.9
68.0
896.6
330.9
565.7
496.1
69.5
828.1
6,270.6
4,537.2
3,744.2
793.0
614.2
1,119.1
178.8
67.7
872.6
318.9
553.7
492.7
61.0
840.7
6,294.8
4,602.7
3,802.8
799.9
619.5
1,072.6
185.4
67.7
819.5
314.7
504.7
533.0
-28.3
852.6
6,266.7
4,623.0
3,814.8
808.2
617.9
1,025.8
180.5
57.9
787.4
279.8
507.6
494.0
13.6
868.5
6,299.8
4,646.0
3,833.5
812.4
625.6
1,028.2
186.7
58.2
783.2
294.0
489.2
514.2
-25.0
32
33
34
35
1,606.2
1,137.3
-39.5
-165.7
1,541.6
1,091.2
-51.2
-192.7
1,612.0
1,143.4
-55.3
-187.0
1,540.7
1,089.6
-31.0
-197.8
1,473.0
1,039.6
-74.1
-209.2
1,352.4
949.5
-109.4
-48.0
1,376.5
969.7
-154.0
-62.7
36
37
38
39
1,127.4
818.1
-39.5
-149.0
1,091.7
770.7
-51.2
-172.5
1,119.2
788.3
-55.3
-167.4
1,080.4
761.5
-31.0
-176.8
1,080.6
765.8
-74.1
-187.0
939.6
659.8
-109.4
-42.8
993.3
699.3
-154.0
-56.1
Line
2007
II
Gross value added of corporate business 1....................................................................................
Consumption of fixed capital...............................................................................................................
Net value added..................................................................................................................................
Compensation of employees...........................................................................................................
Wage and salary accruals...........................................................................................................
Supplements to wages and salaries...........................................................................................
Taxes on production and imports less subsidies..............................................................................
Net operating surplus......................................................................................................................
Net interest and miscellaneous payments...................................................................................
Business current transfer payments.............................................................................................
Corporate profits with IVA and CCAdj..........................................................................................
Taxes on corporate income.....................................................................................................
Profits after tax with IVA and CCAdj.........................................................................................
Net dividends......................................................................................................................
Undistributed profits with IVA and CCAdj.............................................................................
Gross value added of financial corporate business 1...................................................................
Gross value added of nonfinancial corporate business 1............................................................
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Consumption of fixed capital...............................................................................................................
Net value added..................................................................................................................................
Compensation of employees...........................................................................................................
Wage and salary accruals...........................................................................................................
Supplements to wages and salaries...........................................................................................
Taxes on production and imports less subsidies..............................................................................
Net operating surplus......................................................................................................................
Net interest and miscellaneous payments...................................................................................
Business current transfer payments.............................................................................................
Corporate profits with IVA and CCAdj..........................................................................................
Taxes on corporate income......................................................................................................
Profits after tax with IVA and CCAdj.........................................................................................
Net dividends......................................................................................................................
Undistributed profits with IVA and CCAdj.............................................................................
2008
III
IV
I
II
Addenda:
Corporate business:
Profits before tax (without IVA and CCAdj)..................................................................................
Profits after tax (without IVA and CCAdj).....................................................................................
Inventory valuation adjustment...................................................................................................
Capital consumption adjustment.....
Nonfinancial corporate business:
Profits before tax (without IVA and CCAdj)..................................................................................
Profits after tax (without IVA and CCAdj).....................................................................................
Inventory valuation adjustment...................................................................................................
Capital consumption adjustment
Value added, in billions of chained (2000) dollars
Gross value added of nonfinancial corporate business 2............................................................
40
41
42
Consumption of fixed capital3................................................................................................
Net value added 4...................................................................................................................
6,167.8
6,264.5
6,253.1
6,293.3
6,323.5
6,302.0
6,407.9
686.7
5,481.1
716.9
5,547.6
711.6
5,541.5
721.0
5,572.3
731.6
5,591.9
744.8
5,557.2
757.5
5,650.5
1. Estimates for financial corporate business and nonfinancial corporate business for 2000 and earlier periods are based on the 1987 Standard Industrial Classification (SIC); later estimates for these industries are
based on the North American Industry Classification System (NAICS).
2. The current-dollar gross value added is deflated using the gross value added chain-type price index for nonfinancial industries from the GDP-by-industry accounts. For periods when this price index is not available,
the chain-type price index for GDP goods and structures is used.
3. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product of the chain-type quantity index and the 2000 current-dollar value of the corresponding series, divided by
100.
4. Chained-dollar net value added of nonfinancial corporate business is the difference between the gross product and the consumption of fixed capital.
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
Table 1.15. Price, Costs, and Profit Per Unit of Real Gross Value Added of Nonfinancial Domestic Corporate Business
[Dollars]
Seasonally adjusted
Line
2006
2007
2007
I
II
1.113
0.700
0.260
1.129
0.722
0.269
1.130
0.719
0.267
1.128
0.721
0.268
1.128
0.728
0.271
1.130
0.734
0.271
1.119
0.725
0.272
0.126
0.107
0.027
0.131
0.109
0.029
0.130
0.108
0.029
0.132
0.108
0.028
0.133
0.109
0.029
0.135
0.107
0.029
0.136
0.107
0.029
0.152
0.139
0.143
0.139
0.130
0.125
0.122
0.050
0.102
0.051
0.087
0.053
0.090
0.051
0.088
0.050
0.080
0.044
0.081
0.046
0,076
II
Price per unit of real gross value added of nonfinancial corporate business 1...............................
Compensation of employees (unit labor cost).........................................................................................
Unit nonlabor c o st..........................................................................................................................................
Consumption of fixed capital...........................................................................................................
Taxes on production and imports less subsidies plus business current transfer payments..............
Net interest and miscellaneous payments.......................................................................................
Corporate profits with IVA and CCAdj (unit profits from current production)..................................
Taxes on corporate income.............................................................................................................
Profits after tax with IVA and CCAdj................................................................................................
1
2
3
4
5
6
7
8
9
2008
III
IV
1. The implicit price deflator for gross value added of nonfinancial corporate business divided by 100. Estimates for nonfinancial corporate business for 2000 and earlier periods are based on the 1987 Standard
Industrial Classification (SIC); later estimates for these industries are based on the North American Industry Classification System (NAICS).
Note. The current-dollar gross value added is deflated using the gross value added chain-type price index for nonfinancial industries from the GDP-by-industry accounts. For periods when this price index is not avail
able, the chain-type price index for GDP goods and structures is used.
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
National Data
18
N ovem ber
Personal Income and Outlays
Table 2.1. Personal Income and Its Disposition
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
10,993.9
11,663.2
11,577.5
11,730.4
11,872.1
11,960.5
12,188.9
7,432.6
6,027.2
5,004.2
1,023.0
1,405.3
956.8
448.5
1,014.7
16.2
998.6
44.3
1,824.8
1,125.4
699.4
1,603.0
1,578.1
938.9
29.9
39.2
18.3
551.7
24.9
925.5
7,818.6
6,362.0
5,286.7
1,075.2
1,456.6
991.9
464.7
1,056.2
44.0
1,012.2
40.0
2,000.1
1,214.3
785.8
1,713.3
1,681.4
999.4
32.3
41.9
18.8
588.9
31.9
965.1
7,760.1
6,310.7
5,242.5
1,068.1
1,449.4
987.7
461.7
1,050.2
42.3
1,007.9
44.6
1,982.5
1,206.1
776.5
1,699.2
1,667.5
997.5
31.2
41.9
18.7
578.2
31.7
959.1
7,839.3
6,377.7
5,297.0
1,080.8
1,461.6
996.5
465.1
1,063.8
47.4
1,016.4
41.8
2,030.9
1,236.2
794.7
1,720.6
1,688.0
1,008.8
32.5
42.1
18.9
585.7
32.5
966.0
7,941.0
6,465.5
5,373.4
1,092.1
1,475.5
1,005.9
469.6
1,073.8
47.1
1,026.7
38.6
2,056.2
1,242.7
813.5
1,737.8
1,704.7
1,009.6
34.3
42.7
19.0
599.2
33.1
975.3
8,009.7
6,518.0
5,408.3
1,109.7
1,491.7
1,015.3
476.4
1,071.7
41.6
1,030.1
39.1
2,054.1
1,224.6
829.5
1,778.1
1,745.8
1,032.4
38.2
44.6
19.2
611.5
32.2
992.2
8,071.8
6,568.6
5,445.3
1,123.4
1,503.1
1,024.4
478.7
1,076.9
38.0
1,039.0
58.6
2,052.3
1,208.7
843.6
1,926.3
1,893.9
1,050.0
41.4
44.9
19.3
738.4
32.4
997.0
25
1,353.2
9,640.7
9,570.0
1,492.8
10,170.5
10,113.1
1,489.4
10,088.0
10,056.9
1,501.6
10,228.8
10,182.0
1,520.5
10,351.5
10,309.2
1,535.0
10,425.5
10,404.9
1,354.1
10,834.8
10,538.2
9,207.2
235.4
127.4
76.2
51.1
9,710.2
265.4
137.5
81.2
56.3
9,657.5
262.6
136.9
80.8
56.0
9,765.6
278.2
138.1
81.8
56.3
9,892.7
276.7
139.8
82.5
57.3
10,002.3
261.7
140.8
82.9
57.9
10,138.0
253.8
146.4
83.7
62.7
34
70.7
0.7
57.4
0.6
31.1
0.3
46.8
0.5
42.4
0.4
20.6
0.2
296.6
2.7
3b
8,407.0
8,644.0
8,604.5
8,671.1
8,683.1
8,667.9
8,914.6
36
37
38
32,222
28,098
299,199
33,667
28,614
302,087
33,441
28,523
301,667
33,820
28,669
302,452
34,138
28,636
303,225
34,309
28,525
303,868
35,579
29,274
304,528
39
6.4
3.5
5.5
2.8
3.0
-0.6
5.7
3.1
4.9
0.6
2.9
-0.7
16.7
11.9
III
II
Personal income..............................................................................................................................................
Compensation of employees, received............................................................................................
Wage and salary disbursements..................................................................................................
Private industries..............
Government.....................
Supplements to wages and salaries............................................................................................
Employer contributions for employee pension and insurance funds........................................
Employer contributions for government social insurance.........................................................
Proprietors' income with inventory valuation and capital consumption adjustments.........................
Farm............................................................................................................................................
Nonfarm......................................................................................................................................
Rental income of persons with capital consumption adjustment......................................................
Personal income receipts on assets.................................................................................................
Personal interest income.............................................................................................................
Personal dividend income............................................................................................................
Personal current transfer receipts...................................................................................................
Government social benefits to persons........................................................................................
Old-age, survivors, disability, and health insurance benefits....................................................
Government unemployment insurance benefits....
..........
Veterans benefits...........................................................
..........
Family assistance 1
..........
Other.....................
..........
Other current transfer receipts, from business (net).....................................................................
Less: Contributions for government social insurance.......................................................................
Less: Personal current taxes.......................................................................................................................
Equals: Disposable personal incom e........................................................................................................
Less: Personal outlays................
Personal consumption expenditures................................................................................................
Personal interest payments 2....
Personal current transfer payments.................................................................................................
To government............................................................................................................................
To the rest of the world (net)........................................................................................................
Equals: Personal saving................................................................................................................................
Personal saving as a percentage of disposable personal income.................................................
Addenda:
Disposable personal income:
Total, billions of chained (2000) dollars3.....................................................................................
Per capita:
Current dollars........................................................................................................................
Chained (2000) dollars............................................................................................................
Population (midperiod, thousands)..................................................................................................
Percent change from preceding period:
Disposable personal income, current dollars.................................................................................
Disposable personal income, chained (2000) dollars....................................................................
26
27
28
29
30
31
32
33
40
2008
I
IV
II
1. Consists of aid to families with dependent children and, beginning with 1996, assistance programs operating under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996.
2. Consists of nonmortgage interest paid by households.
3. Equals disposable personal income deflated by the implicit price deflator for personal consumption expenditures.
Table 2.2B. Wage and Salary Disbursements by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
III
2008
IV
I
II
2
3
4
5
6
7
6,027.2
5,004.2
6,362.0
5,286.7
6,310.7
5,242.5
6,377.7
5,297.0
6,465.5
5,373.4
6,518.0
5,408.3
6,568.6
5,445.3
Goods-producing industries.............................................................................................................
Manufacturing........................
Services-producing industries....
Trade, transportation, and utilities.................................................................................................
Other services-producing industries 1..........................................................................................
1,167.2
731.2
3,837.1
986.7
2,850.4
1,205.4
746.0
4,081.3
1,035.2
3,046.1
1,200.7
744.0
4,041.9
1,036.5
3,005.4
1,204.3
743.4
4,092.6
1,035.3
3,057.4
1,218.2
750.2
4,155.3
1,048.3
3,106.9
1,217.7
748.4
4,190.5
1,050.4
3,140.2
1,216.3
748.5
4,229.0
1,049.3
3,179.7
Government.......................................................................................................................................................
8
1,023.0
1,075.2
1,068.1
1,080.8
1,092.1
1,109.7
1,123.4
Wage and salary disbursements.........................................................................................................
Private industries.............................................................................................................................................
1
1. Other services-producing industries consists of information; finance and insurance; real estate and rental and leasing; professional, scientific, and technical services; management of companies and enterprises,
administrative and support and waste management and remediation services; educational services; health care and social assistance; arts, entertainment, and recreation; accommodation and food services; and other
services.
Note. Estimates in this table are based on the 1997 North American Industry Classification System (NAICS).
2008
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -1 9
Table 2.3.2. Contributions to Percent Change in Real Personal
Consumption Expenditures by Major Type of Product
Table 2.3.1. Percent Change From Preceding Period in Real Personal
Consumption Expenditures by Major Type of Product
[Percent]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Personal consumption
expenditures....................
Durable goods..............................
Motor vehicles and parts.........
Furniture and household
equipment............................
Other......................................
Nondurable goods.......................
Food.......................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and oil...................
Fuel oil and coal..................
Other......................................
Services..........................................
Housing..................................
Household operation...............
Electricity and gas...............
Other household operation...
Transportation.........................
Medical care...........................
Recreation...............................
Other......................................
III
Seasonally adjusted at annual rates
2008
IV
Line
3.0
4.5
2.8
4.8
2.0
5.0
2.0
2.3
1.0
0.4
0.9
-4.3
1.2
-2.8
-2.6
2.0
1.6
-6.7
-0.8
-10.7
-19.7
4
5
12.1
6.3
8.0
4.8
5.6
10.6
8.8
9.4
3.9
-3.6
1.8
-2.3
14.0
2.4
6
7
8
3.7
2.5
1.9
1.2
0.3
-0.4
3.9
4.0
5.9
1.9
4.7
2.8
2.7
0.3
4.4
2.8
-3.2
1.3
3.0
4.1
10.9
-2.6
-1.7
-12.9
2.1
-0.4
0.9
-15.5
2.0
-1.7
-2.0
3.2
-1.5
-6.0
-5.2
-16.1
-1.8
-6.4
-4.9
-23.7
6.2
2.6
1.4
2.4
1.4
2.4
0.7
1.5
1.8
1.9
1.8
1.9
2.9
4.5
3.2
0.8
0.5
-2.4
2.6
1.5
1.0
2.5
2.7
0.7
1.6
1.1
1.9
2.3
3.7
2.4
2.8
1.2
2.5
0.5
3.9
-0.8
4.0
-0.4
-0.8
0.5
1.8
7.4
-2.1
1.7
4.9
-4.7
4.1
1.7
-4.3
-11.0
1.0
-3.0
2.8
1.3
-0.3
-2.4
1.2
-2.5
0.2
-0.9
-1.5
-8.0
3.3
3.1
2.2
2.4
0.8
1.0
1.5
9
10
11
12
-2.0
-1.7
-5.5
4.5
0.8
0.1
10.0
3.2
13
14
15
16
17
18
19
20
21
2.5
3.2
-0.4
-3.0
1.5
2.0
2.6
3.2
2.5
22
23
Addenda:
Energy goods and services 1...
Personal consumption
expenditures excluding food
and energy..........................
2007
2007
II
2
3
1
2006
II
I
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
Percent change at annual rate:
Personal consumption
expenditures....................
Percentage points at annual
rates:
Durable goods...............................
Motor vehicles and parts..........
Furniture and household
equipment............................
Other.......................................
Nondurable goods.......................
Food........................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and oil...................
Fuel oil and coal...................
Other.......................................
Services..........................................
Housing...................................
Household operation................
Electricity and gas...............
Other household operation...
Transportation..........................
Medical care............................
Recreation..............................
Other.......................................
2008
IV
III
II
1.0
0.9
0.26
0.04
-0.47
-0.30
-0.32
-0.04
-0.49
-0.90
0.36
0.21
0.16
-0.09
0.07
-0.05
0.55
0.06
0.35
0.08
-0.11
1.13
0.38
0.11
0.04
0.17
0.38
-0.12
0.18
0.11
0.56
0.39
0.03
0.00
0.02
0.25
-0.09
-0.06
-0.04
0.17
-0.01
0.03
-0.04
0.16
-0.07
-0.07
0.01
-0.12
-0.26
-0.20
-0.05
-0.14
-0.28
-0.20
-0.08
0.46
1.47
1.53
0.86
1.40
0.84
1.44
0.40
0.48
-0.02
-0.07
0.05
0.08
0.45
0.13
0.35
0.22
0.10
0.04
0.06
0.07
0.50
0.18
0.45
0.12
0.03
-0.05
0.08
0.06
0.18
0.10
0.37
0.11
0.09
0.03
0.06
0.09
0.63
0.10
0.39
0.17
0.13
0.01
0.12
-0.03
0.69
-0.01
-0.11
0.07
0.10
0.16
-0.07
0.06
0.84
-0.20
0.57
0.25
-0.24
-0.27
0.03
-0.11
0.49
0.05
-0.05
-0.14
0.07
-0.15
0.01
-0.05
-0.09
-0.55
2.64
2.46
1.74
1.96
0.62
0.78
1.22
1
3.0
2.8
2
3
0.52
0.54
0.55
-0.13
0.09
0.07
4
5
0.51
0.14
0.34
0.11
0.24
0.24
6
7
8
1.06
0.72
0.56
0.55
0.23
0.26
0.18
9
10
11
12
-0.07
-0.06
-0.01
0.36
13
14
15
16
17
18
19
20
21
22
23
2.0
I
2.0
1.2
Addenda:
Energy goods and services ’ ....
Personal consumption
expenditures excluding food
and energy...........................
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
Table 2.3.3. Real Personal Consumption Expenditures by Major
Type of Product, Quantity Indexes
Table 2.3.4. Price Indexes for Personal Consumption Expenditures by Major
Type of Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
II
Personal consumption
expenditures....................
Durable goods..............................
Motor vehicles and parts.........
Furniture and household
equipment...........................
Other......................................
Nondurable goods.......................
Food.......................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and oil...................
Fuel oil and coal..................
Other......................................
Services..........................................
Housing..................................
Household operation...............
Electricity and gas...............
Other household operation...
Transportation.........................
Medical care............................
Recreation..............................
Other......................................
Seasonally adjusted
III
2008
IV
I
Line
115.582
116.767
114.746
114.513
111.313
4
5
175.831
132.979
189.830
139.314
188.009
138.918
192.006
142.080
193.857
140.796
194.714 201.210
139.967 140.804
6 119.930
7 117.831
8 132.484
122.872
122.815
123.182
123.261
123.147
124.317
Nondurable goods.......................
120.038
138.677
119.987
138.442
120.080
139.942
120.924
138.806
121.315
139.821
122.534
143.488
103.438
105.007
86.464
128.976
103.422
104.909
87.329
128.953
103.330
105.146
83.740
129.588
102.901
104.617
84.398
129.094
101.329
103.243
80.774
128.514
99.664
101.954
75.486
130.448
Food........................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and oil...................
Fuel oil and coal...................
Other.......................................
119.739 119.937
Services..........................................
102.633
104.870
78.606
125.011
13 115.298
14 114.718
15 106.000
16 103.457
17 107.826
18 100.853
19 125.648
20 119.546
21 111.625
118.259 117.916
118.605
119.020
116.420 116.289
107.959 107.617
105.447 105.109
109.760 109.415
102.731 102.582
129.317 128.499
124.880 124.723
115.218 115.063
116.501
108.035
105.399
109.932
103.172
129.659
125.479
115.866
116.839 116.978
108.696 109.183
105.540 107.453
110.980 110.404
102.969 103.408
130.943 132.522
125.365 123.860
115.638 116.814
117.469
108.001
104.375
110.677
102.628
133.451
124.263
116.714
22
102.973
104.223
104.090
104.139
103.913
103.532
101.388
23
120.507
124.197
123.927
124.679
124.921
125.225
125.703
Addenda:
Energy goods and services 1...
Personal consumption
expenditures excluding food
and energy..........................
Personal consumption
expenditures....................
Durable goods...............................
122.456 122.226 122.838 123.130 123.395 123.770
143.908 143.894 144.720 144.856 143.284 142.273
105.357
2007
2007
II
1 119.135
2 137.274
3 113.304
9
10
11
12
2006
II
Motor vehicles and parts..........
Furniture and household
equipment...........................
Other.......................................
Housing...................................
Household operation................
Electricity and gas...............
Other household operation...
Transportation..........................
Medical care...........................
Recreation..............................
Other.......................................
1 114.675
2
88.772
3
99.099
4
5
73.331
98.460
6 114.984
7 115.344
8 91.332
III
2008
IV
I
II
117.659 117.246 117.969 119.221 120.283 121.544
87.154 87.365 86.938 86.598 86.581
86.237
98.589
98.367
98.737
98.919
98.698
98.382
69.924
99.421
70.554
99.348
69.426
99.232
68.445
99.608
68.115
100.809
67.161
102.109
118.407 117.830
118.682
121.092
123.059
125.021
119.682
90.595
119.023
90.468
120.440
90.114
121.553
90.311
123.007
90.203
124.943
89.520
9
10
11
12
171.084
170.343
180.338
109.796
185.237
184.642
192.322
111.013
183.081
182.798
186.051
110.752
185.479 205.630 218.289 231.457
184.912 204.938 216.917 228.625
192.164 213.849 235.889 270.125
110.946 111.638 112.598 113.027
13
14
15
16
17
18
19
20
21
120.752
124.712
124.218
22
158.328
23
112.129
125.179
126.253
127.133 128.450
124.217 125.110
124.814 125.018
145.416 144.522
112.933 113.745
118.559 119.935
126.049 126.962
120.141 120.595
124.720 126.145
126.086
126.005
146.182
114.354
121.004
128.078
121.833
127.259
126.994
127.183
148.139
115.093
122.455
128.364
122.851
128.529
127.623
131.604
157.995
116.476
124.768
129.127
123.699
129.950
167.857
166.907
167.880
180.026
188.015
199.763
114.548
114.201
114.797
115.512
116.158
116.782
120.281 124.679
121.503 124.813
141.370 144.797
110.042 113.275
116.172 119.318
122.136 126.601
118.532 120.418
121.376 125.365
Addenda:
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
Energy goods and services \...
Personal consumption
expenditures excluding food
and energy...........................
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
National Data
D -2 0
N ovem ber
2008
Table 2.3.5. Personal Consumption Expenditures by Major
Type of Product
Table 2.3.6. Real Personal Consumption Expenditures by Major
Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Personal consumption
expenditures....................
Durable goods.............................
Motor vehicles and parts.........
Furniture and household
equipment............................
Other......................................
Nondurable goods.......................
Food.......................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and oil...................
Fuel oil and coal..................
Other......................................
Services..........................................
Housing..................................
Household operation...............
Electricity and gas...............
Other household operation...
Transportation..........................
Medical care...........................
Recreation...............................
Other......................................
1
2
3
III
Line
2008
IV
I
9,892.7 10,002.3 10,138.0
1,083.0 1,071.0 1,059.3
Personal consumption
expenditures....................
Durable goods...............................
9,207.2
1,052.1
9,710.2
1,082.8
9,657.5
1,085.3
9,765.6
1,086.2
434.0
440.4
444.0
437.9
437.8
424.7
400.6
415.3
229.9
415.1
231.3
423.0
235.7
Motor vehicles and parts.........
Furniture and household
equipment............................
Other.......................................
4
5
403.5
214.6
415.3
227.0
415.2
226.2
417.2
231.1
6
7
8
2,685.2
2,833.0
2,817.7
2,846.6
2,906.2
2,950.7
3,026.2
Nondurable goods.......................
1,257.4
360.2
1,329.1
374.0
1,321.2
372.9
1,337.9
375.4
1,359.8
373.2
1,380.5
375.5
1,416.3
382.4
9
10
11
12
336.2
313.8
22.4
731.4
366.9
340.6
26.3
762.9
362.7
336.9
25.8
761.0
367.1
341.6
25.5
766.1
405.3
376.7
28.6
767.9
423.7
393.4
30.2
771.1
441.8
409.5
32.3
785.7
Food........................................
Clothing and shoes..................
Gasoline, fuel oil, and other
energy goods.......................
Gasoline and oil...................
Fuel oil and coal..................
Other.......................................
13
14
15
16
17
18
19
20
21
5,469.9
5,794.4
5,754.4
5,832.8
5,903.5
5,980.6
6,052.5
Services.........................................
1,388.7
502.4
209.6
292.9
341.2
1,575.8
380.1
1,281.6
1,460.9
525.7
218.8
306.9
357.0
1,681.1
403.4
1,366.3
1,453.8
524.0
219.0
305.0
354.2
1,663.0
402.0
1,357.4
1,466.9
526.9
218.3
308.6
360.4
1,690.2
405.9
1,382.5
1,482.7
534.3
221.1
313.2
362.9
1,721.9
409.7
1,392.0
1,495.1
541.7
228.1
313.6
368.8
1,746.6
408.2
1,420.2
1,508.8
554.5
236.3
318.1
372.9
1,769.3
412.3
1,434.6
Housing...................................
Household operation................
Electricity and gas...............
Other household operation...
Transportation..........................
Medical care...........................
Recreation..............................
Other.......................................
Residual......................................
22
545.8
585.7
581.7
585.4
626.4
651.8
678.1
23
7,404.0
7,795.3
7,754.6
7,842.3
7,906.6
7,970.1
8,043.5
1
2
3
2007
2007
II
Addenda:
Energy goods and services 1...
Personal consumption
expenditures excluding food
and energy..........................
2006
II
III
2008
IV
I
II
8,029.0
1,185.1
8,252.8
1,242.4
8,237.3
1,242.3
8,278.5
1,249.4
8,298.2
1,250.6
8,316.1
1,237.0
8,341.3
1,228.3
437.9
446.7
451.3
443.5
442.6
430.2
407.2
4
5
550.2
218.0
594.0
228.3
588.3
227.7
600.8
232.9
606.6
230.8
609.3
229.4
629.6
230.8
6
7
8
2,335.3
2,392.6
2,391.5
2,398.6
2,400.2
2,397.9
2,420.7
1,090.1
394.4
1,110.5
412.9
1,110.1
412.2
1,110.9
416.6
1,118.7
413.2
1,122.4
416.3
1,133.6
427.2
9
10
11
12
196.5
184.2
12.4
666.1
198.1
184.5
13.7
687.3
198.0
184.3
13.8
687.1
197.9
184.7
13.3
690.5
197.0
183.8
13.4
687.9
194.0
181.4
12.8
684.8
190.8
179.1
11.9
695.1
13
14
15
16
17
18
19
20
21
22
4,529.9
4,646.2
4,632.7
4,659.8
4,676.1
4,704.3
4,712.1
1,154.6
413.5
148.3
266.1
293.7
1,290.2
320.7
1,055.9
-53.8
1,171.7
421.2
151.1
270.9
299.2
1,327.8
335.0
1,089.9
-70.7
1,170.4
419.8
150.6
270.0
298.8
1,319.4
334.6
1,088.4
-69.7
1,172.5
421.5
151.0
271.3
300.5
1,331.4
336.6
1,096.0
-74.0
1,175.9
424.0
151.2
273.9
299.9
1,344.5
336.3
1,093.9
-74.4
1,177.3
425.9
154.0
272.5
301.2
1,360.8
332.3
1,105.0
-73.6
1,182.3
421.3
149.6
273.2
298.9
1,370.3
333.4
1,104.0
-84.9
23
344.7
348.9
348.5
348.6
347.9
346.6
339.4
24
6,603.1
6,805.3
6,790.5
6,831.7
6,845.0
6,861.6
6,887.8
Addenda:
Energy goods and services '....
Personal consumption
expenditures excluding food
and energy...........................
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
1. Consists of gasoline, fuel oil, and other energy goods and of electricity and gas.
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity Index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights
of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the differ
ence between the first line and the sum of the most detailed lines.
N ovem ber
2008
D -2 1
S u r v e y o f C u r r e n t B u s in e s s
3. Government Current Receipts and Expenditures
Table 3.1. Government Current Receipts and Expenditures
[Billions of dollars]
Seasonally adjusted at annual rates
Line
Current receipts................................................................
Current tax receipts
Personal current taxes............................................................
Taxes on production and imports...........................................
Taxes on corporate income....................................................
Taxes from the rest of the world.............................................
Contributions for government social insurance...........................
Income receipts on assets..........................................................
Interest and miscellaneous receipts.......................................
Dividends................................................................................
Current transfer receipts...............
From business (net)..................
From persons...........................
Current surplus of government enterprises................................
1
2
3
4
5
6
7
8
9
10
11
12
13
14
Current expenditures.......................................................
Consumption expenditures.........................................................
Current transfer payments.
Government social benefits....................................................
To persons................
To the rest of the world.......................................................
Other current transfer payments to the rest of the world (net)..
Interest payments.......................................................................
To persons and business........................................................
To the rest of the world..
Subsidies..........................
Less: Wage accruals less disbursements..................................
15
16
17
18
19
20
21
22
23
24
25
26
Net government saving....................................................
Social insurance funds...............................................................
Other.........................................................................................
27
28
29
2007
2006
2007
2008
II
III
IV
I
II
3,963.8
4,177.8
4,181.1
4,194.4
4,218.1
4,215.6
4,059.4
2,792.4
1,353.2
976.2
449.7
13.4
925.5
120.4
117.7
2.7
134.2
57.9
76.2
-8.6
2,948.5
1,492.8
1,015.5
426.3
14.0
965.1
129.5
126.6
2.8
142.6
61.4
81.2
-7.9
2,959.7
1,489.4
1,012.3
445.2
12.8
959.1
128.8
126.1
2.7
142.0
61.1
80.8
-8.5
2,959.7
1,501.6
1,019.2
426.0
13.0
966.0
130.9
128.0
2.9
143.3
61.5
81.8
-5.5
2,973.7
1,520.5
1,027.7
407.7
17.9
975.3
131.3
128.4
2.9
144.5
62.1
82.5
-6.7
2,951.8
1,535.0
1,025.8
375.8
15.3
992.2
132.7
129.7
3.0
145.9
63.0
82.9
-7.1
2,787.2
1,354.1
1,039.4
378.9
14.8
997.0
135.6
132.7
2.9
147.4
63.6
83.7
-7.7
4,118.8
4,396.7
4,356.8
4,434.0
4,476.7
4,598.7
4,766.3
2,081.5
1,611.0
1,581.4
1,578.1
3.3
29.6
376.5
241.6
135.0
49.7
0.0
2,212.0
1,721.3
1,685.0
1,681.4
3.6
36.3
411.1
246.0
165.1
52.3
0.0
2,195.5
1,696.6
1,671.1
1,667.5
3.6
25.5
408.7
243.1
165.6
55.9
0.0
2,234.4
1,723.1
1,691.7
1,688.0
3.6
31.5
422.9
255.3
167.6
53.5
0.0
2,266.8
1,751.2
1,708.4
1,704.7
3.6
42.8
406.4
235.5
170.9
52.3
0.0
2,324.3
1,793.5
1,749.5
1,745.8
3.7
44.0
430.3
259.2
171.1
50.6
0.0
2,380.9
1,930.2
1,897.6
1,893.9
3.8
32.6
404.4
232.4
172.0
50.8
0.0
-155.0
-218.9
-175.7
-239.5
-258.6
-383.1
-706.9
29.4
-184.4
11.9
-230.8
8.4
-184.0
4.0
-243.5
11.7
-270.3
2.2
-385.3
-12.6
-694.2
Addenda:
Total receipts........................................................................
Current receipts..................................................................
Capital transfer receipts.....................................................
30
31
32
3,996.7
4,209.3
4,212.9
4,226.4
4,250.6
4,249.8
4,094.4
3,963.8
32.9
4,177.8
31.6
4,181.1
31.8
4,194.4
32.0
4,218.1
32.5
4,215.6
34.3
4,059.4
35.0
Total expenditures..................
Current expenditures............
Gross government investment............................................
Capital transfer payments.....
Net purchases of nonproduced assets...............................
Less: Consumption of fixed capital.....................................
33
34
35
36
37
38
4,291.8
4,608.7
4,563.7
4,651.6
4,700.5
4,810.0
4,906.4
4,118.8
426.7
18.1
-3.7
268.0
4,396.7
462.8
28.8
9.7
289.4
4,356.8
460.4
27.0
6.6
287.0
4,434.0
469.1
27.0
13.3
291.8
4,476.7
476.1
34.6
9.4
296.3
4,598.7
473.9
34.6
3.3
300.5
4,766.3
492.8
34.6
-81.6
305.7
Net lending or net borrowing ( - ) .........................................
39
-295.1
-399.4
-350.8
-425.2
-450.0
-560.2
-812.0
National Data
D -2 2
N ovem ber
2008
Table 3.2. Federal Government Current Receipts and Expenditures
Table 3.3. State and Local Government Current Receipts and Expenditures
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Line
Current receipts........................
Current tax receipts..........................
Personal current taxes..................
Taxes on production and imports...
Excise taxes.............................
Customs duties........................
Taxes on corporate income..........
Federal Reserve banks............
Other.......................................
Taxes from the rest of the world....
Contributions for government social
insurance.....................................
Income receipts on assets................
Interest receipts...........................
Rents and royalties......................
Current transfer receipts...................
From business..............................
From persons..............................
Current surplus of government
enterprises..................................
Current expenditures..............
Consumption expenditures...............
Current transfer payments................
Government social benefits..........
To persons...............................
To the rest of the world.............
Other current transfer payments....
Grants-in-aid to state and local
governments........................
To the rest of the world (net).....
Interest payments.............................
To persons and business..............
To the rest of the world.................
Subsidies.........................................
Less: Wage accruals less
disbursements..............................
saving.....................................
Social insurance funds.....................
Other...............................................
Addenda:
Total receipts.................................
Current receipts........................
Capital transfer receipts............
Total expenditures........................
Current expenditures................
Gross government investment...
Capital transfer payments.........
Net purchases of nonproduced
assets..................................
Less: Consumption of fixed
capital..................................
Net lending or net borrowing (-)
2006
1 2,510.4
2 1,550.2
3 1,049.9
4
98.0
5
71.3
6
26.7
7
388.9
8
29.1
9
359.9
13.4
10
11
12
13
14
15
16
17
902.4
25.7
18.0
7.7
35.7
19.6
16.0
2007
2007
Seasonally adjusted at annual rates
Line
2008
II
III
IV
I
II
2,651.2
2,648.1
2,664.9
2,679.2
2,672.5
2,488.4
1,644.5
1,167.3
97.7
68.9
28.8
365.4
34.6
330.8
14.0
1,648.2
1,157.1
96.9
68.8
28.0
381.5
35.4
346.1
12.8
1,654.4
1,178.1
98.2
69.4
28.8
365.1
34.4
330.7
13.0
1,660.0
1,194.7
98.0
68.1
29.9
349.5
33.5
316.0
17.9
1,634.9
1,201.2
95.8
66.8
29.0
322.5
32.9
289.6
15.3
942.3
29.2
21.9
7.2
37.5
20.5
17.1
936.4
29.0
22.3
6.8
37.2
20.3
16.9
943.3
29.8
22.5
7.3
37.6
20.4
17.2
952.3
29.5
21.6
7.9
38.2
20.7
17.5
968.9
29.9
21.7
8.2
39.4
21.7
17.7
Current tax receipts..........................
Personal current taxes..................
Income taxes...........................
Other........................................
Taxes on production and imports...
Sales taxes..............................
Property taxes.........................
Other........................................
Taxes on corporate income...........
Contributions for government social
973.4
insurance.....................................
31.7
Income receipts on assets................
21.9
Interest receipts............................
9.8
Dividends.....................................
40.0
Rents and royalties.......................
22.0
Current transfer receipts...................
18.0
Federal grants-in-aid.....................
From business (net)......................
18
38.3
-0.6
From persons...............................
Current surplus of government
3,128.4
enterprises....................................
918.2
Current receipts........................
1,443.9
1,007.7
96.9
67.5
29.4
324.4
28.5
296.0
14.8
18
-3.6
-2.2
-2.8
-0.2
-0.8
-0.5
19
20
21
22
23
24
25
2,711.6
2,880.5
2,859.5
2,909.2
2,915.6
3,003.2
811.8
1,568.1
1,180.4
1,177.1
3.3
387.7
856.1
1,666.7
1,254.2
1,250.6
3.6
412.5
851.1
1,652.6
1,250.4
1,246.8
3.6
402.3
869.1
1,671.4
1,264.1
1,260.5
3.6
407.3
871.6
1,692.5
1,270.1
1,266.5
3.6
422.4
898.0
1,729.2
1,305.3
1,301.7
3.7
423.9
26
27
28
29
30
31
358.0
29.6
282.3
147.3
135.0
49.4
376.3
36.3
312.6
147.5
165.1
45.2
376.8
25.5
310.5
144.9
165.6
45.2
375.9
31.5
323.9
156.3
167.6
44.8
379.6
42.8
306.4
135.5
170.9
45.1
379.9
44.0
329.4
158.3
171.1
46.6
32
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Addenda:
Total receipts..................................
33
34
35
-201.1
-229.3
-211.4
-244.3
-236.3
-330.7
-640.0
22.9
-224.1
6.4
-235.7
2.9
-214.3
-1.4
-242.9
6.4
-242.7
-3.2
-327.5
-18.2
-621.9
Current receipts........................
Capital transfer receipts............
36
3/
38
2,538.3
2,677.7
2,674.8
2,691.7
1,860.1
Current expenditures..............
1,443.1
Consumption expenditures...............
1,439.4
Government social benefit payments
3.8
to persons....................................
417.0
Interest payments.............................
Subsidies
.........................................
384.4
Less: Wage accruals less
32.6
disbursements..............................
302.3
130.3
government saving..............
172.0
Social insurance funds......................
47.8
Other................................................
2,706.6
2,701.7
2,518.2
2,510.4
27.8
2,651.2
26.5
2,648.1
26.7
2,664.9
26.9
2,679.2
27.4
2,672.5
29.2
2,488.4
29.8
39
40
41
47
2,783.2
2,973.1
2,947.7
3,009.7
3,016.3
3,095.5
3,144.4
2,711.6
120.3
70.2
2,880.5
123.2
82.4
2,859.5
123.5
80.1
2,909.2
124.9
86.0
2,915.6
126.7
89.6
3,003.2
128.5
86.4
3,128.4
138.0
87.5
43
-13.3
-1.3
-4.3
2.2
-1.7
-7.7
-92.6
44
105.6
111.8
111.0
112.5
113.9
115.0
116.9
45
-244.9
-295.4
-273.0
-318.0
-309.6
-393.8
-626.2
Total expenditures........................
Current expenditures................
Gross government investment...
Net purchases of nonproduced
assets..................................
Less: Consumption of fixed
capital..................................
Net lending or net borrowing (-)
2006
1 1,811.4
2 1,242.2
3
303.3
4
277.0
5
26.3
6
878.2
7
421.5
8
369.6
9
87.1
10
60.7
11
12
13
14
15
16
17
23.1
94.7
80.6
2.7
11.4
456.5
358.0
19
60.2
2007
2007
2008
II
III
IV
I
II
1,902.8
1,909.8
1,905.5
1,918.4
1,922.9
1,955.4
1,304.1
325.4
298.3
27.1
917.8
436.5
390.9
90.3
60.9
1,311.5
332.3
305.4
27.0
915.4
435.7
388.6
91.2
63.7
1,305.3
323.5
296.3
27.2
921.0
438.4
393.6
89.1
60.9
1,313.7
325.8
298.4
27.5
929.7
439.8
398.3
91.5
58.2
1,317.0
333.7
306.7
27.0
929.9
438.5
401.5
89.9
53.3
1,343.3
346.4
319.0
27.4
942.4
436.9
403.8
101.7
54.5
22.8
100.3
84.6
2.8
12.8
481.3
376.3
40.9
64.1
22.7
99.8
84.3
2.7
12.8
481.5
376.8
40.8
63.9
22.8
101.1
85.2
2.9
13.0
481.6
375.9
41.1
64.6
22.9
101.8
85.9
2.9
13.0
485.9
379.6
41.3
65.0
23.3
102.9
87.0
3.0
12.8
486.4
379.9
41.4
65.2
23.6
103.9
88.2
2.9
12.9
491.8
384.4
41.6
65.8
20
-5.0
-5.7
-5.7
-5.3
-5.9
-6.6
-7.1
21
22
1,765.3
1,892.4
1,874.0
1,900.7
1,940.7
1,975.3
2,022.3
1,269.6
1,355.9
1,344.4
1,365.3
1,395.2
1,426.3
1,462.7
23
24
25
401.0
94.3
0.4
430.8
98.5
7.1
420.7
98.2
10.7
427.6
99.1
8.8
438.3
100.0
7.3
444.2
100.9
4.0
454.5
102.1
3.0
26
0.0
0.0
0.0
0.0
0.0
0.0
0.0
77
?8
79
46.2
10.4
35.8
4.7
-22.3
-52.4
-66.9
6.5
39.7
5.5
4.9
5.5
30.3
5.4
-0.6
5.3
-27.6
5.4
-57.8
5.5
-72.4
30
31
32
1,868.6
1,961.5
1,968.0
1,969.6
1,978.6
1,979.8
2,013.5
1,811.4
57.2
1,902.8
58.7
1,909.8
58.2
1,905.5
64.1
1,918.4
60.1
1,922.9
56.9
1.955.4
58.1
33
34
35
36
1,918.8
2,065.5
2,045.8 2,076.7
2,118.9 2,146.2 2,199.3
1,765.3
306.3
1,892.4
339.6
1,874.0
336.9
1,940.7
349.4
1,900.7
344.2
1,975.3
345.3
2,022.3
354.9
37
9.6
11.0
10.9
11.1
11.2
11.1
11.0
38
39
162.3
177.6
176.0
179.3
182.4
185.5
188.8
-50.2
-104.0
-77.8
-107.2
-140.3
-166.3
-185.8
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -2 3
Table 3.9.1. Percent Change From Preceding Period in Real Government
Table 3.9.2. Contributions to Percent Change in Real Government
Consumption Expenditures and Gross Investment
Consumption Expenditures and Gross Investment
[Percent]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Government consumption
expenditures and gross
investment...........................
Consumption expenditures 1
Gross investment2.............
Structures.......................
Equipment and software
Federal...............................................
Consumption expenditures.....
Gross investment....................
Structures..........................
Equipment and software.....
National defense.........................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
Nondefense..................................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
State and local.................................
Consumption expenditures.........
Gross investment........................
Structures..............................
Equipment and software
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
III
Seasonally adjusted at annual rates
Line
2008
IV
I
2006
2007
II
2007
II
1.7
2.1
3.9
3.8
0.8
1.9
3.9
1.6
2.1
-1.3
8.1
1.9
3.0
3.8
1.7
2.9
8.9
5.3
15.7
3.9
3.3
5.1
0.0
0.5
2.3
3.1
1.0
3.2
-3.8
-9.4
7.3
2.1
13.4
9.5
20.7
2.3
1.6
6.7
7.2
-0.5
5.8
6.6
1.4
8.2
6.2
8.6
1.7
1.2
7.4
0.2
4.9
20.2
7.3
22.4
7.8
2.8
34.6
-1.8
-1.2
4.7
42.0
-1.1
6.0
4.9
-13.8
8.9
3.6
29.4
16.5
31.8
1.6
2.5
8.5
10.2
-0.9
7.3
7.3
0.8
7.0
-1.5
7.8
2.6
1.6
12.8
0.6
6.7
21.7
6.9
23.1
10.9
5.4
78.1
0.3
-1.4
3.0
94.8
-4.1
7.4
6.0
-45.1
14.0
3.4
38.7
60.4
36.6
3.6
-0.2
3.1
1.2
0.4
2.9
5.0
2.6
10.7
11.8
10.4
-0.2
0.2
4.0
-1.0
1.2
17.2
7.5
20.7
1.7
-2.2
11.7
-6.7
-0.8
8.1
12.1
6.7
2.9
2.8
19.6
-3.0
4.0
11.8
-6.9
20.0
1.3
2.3
2.4
1.9
1.6
-0.3
2.5
1.7
-0.2
-1.8
7.2
2.0
3.7
3.6
4.6
1.7
5.1
5.2
4.7
1.5
3.5
3.5
3.4
1.6
1.5
0.9
4.7
1.4
-6.8
-9.1
4.5
1.2
7.8
9.0
2.5
1. Government consumption expenditures are services (such as education and national defense) produced by government
that are valued at their cost of production. Excludes government sales to other sectors and government own-account invest
ment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
Percent change at annual rate:
Government consumption
expenditures and gross
investment...........................
Percentage points at annual
rates:
Consumption expenditures1
Gross investment2.............
Structures.......................
Equipment and software
Federal...............................................
Consumption expenditures.....
Gross investment....................
Structures..........................
Equipment and software.....
National defense.........................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
Nondefense..................................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
State and lo c a l.................................
Consumption expenditures.........
Gross investment........................
Structures..............................
Equipment and software
III
2008
IV
I
II
1
1.7
2.1
3.9
3.8
0.8
1.9
3.9
2
3
4
5
1.31
0.35
-0.14
0.50
1.56
0.52
0.41
0.11
2.43
1.51
0.59
0.92
3.25
0.58
0.57
0.01
0.40
0.41
0.35
0.06
2.60
-0.67
-1.10
0.43
1.76
2.18
1.01
1.17
0.84
0.59
2.42
2.60
-0.18
2.09
2.38
0.46
0.38
0.04
0.34
0.54
0.05
0.05
0.01
1.56
0.86
0.05
0.82
2.46
0.13
0.20
-0.07
-0.39
0.21
0.25
-0.04
1.87
0.22
-0.11
0.33
1.15
1.23
0.11
1.12
6
7
8
9
10
11
12
13
14
15
0.40
0.61
2.04
2.45
-0.22
1.76
1.81
0.19
0.21
0.00
0.22
0.56
0.05
0.03
0.02
1.43
0.61
0.02
0.60
2.29
0.17
0.16
0.01
-0.31
0.09
0.21
-0.11
1.58
0.18
-0.19
0.36
0.75
1.06
0.14
0.92
16
17
18
19
20
0.44
-0.02
0.38
0.14
0.04
0.33
0.57
0.28
0.16
0.04
0.12
-0.02
0.00
0.02
-0.01
0.13
0.25
0.03
0.22
0.18
-0.03
0.04
-0.08
-0.08
0.12
0.05
0.07
0.29
0.04
0.08
-0.03
0.40
0.17
-0.03
0.20
21
22
23
24
25
0.82
1.48
1.52
1.24
0.99
-0.16
1.56
0.85
-0.02
-0.18
0.16
1.02
0.46
0.36
0.10
0.87
0.65
0.54
0.10
0.79
0.44
0.37
0.07
0.80
0.19
0.09
0.10
0.73
-0.89
-0.99
0.10
0.61
0.95
0.90
0.05
1. Government consumption expenditures are services (such as education and national defense) produced by government
that are valued at their cost of production. Excludes government sales to other sectors and government own-account invest
ment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
Table 3.9.3. Real Government Consumption Expenditures and
Gross Investment, Quantity Indexes
Table 3.9.4. Price Indexes for Government Consumption Expenditures and
Gross Investment
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
II
Government consumption
expenditures and gross
investment...........................
Consumption expenditures 1
Gross investment2.............
Structures.......................
Equipment and software
Federal...............................................
Consumption expenditures.....
Gross investment...................
Structures..........................
Equipment and software.....
National defense.........................
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
Nondefense..................................
Consumption expenditures.....
Gross investment....................
Structures..........................
Equipment and software.....
State and local.................................
Consumption expenditures.........
Gross investment........................
Structures..............................
Equipment and software.........
Seasonally adjusted
2007
III
2008
IV
I
Line
114.497 116.871 116.541 117.642 117.879 118.443 119.594
6
7
8
9
10
128.019 130.078 129.507 131.772 131.610 133.488 135.628
116.177
120.192
107.222
146.140
115.787
120.162
106.686
147.366
116.911
121.141
108.033
147.381
125.637 127.744 127.012 129.427
145.892 147.570 148.287 149.324
90.833 97.565 92.144 99.244
158.638 158.877 161.332 160.618
129.032
151.035
108.340
160.179
117.969
120.662
106.217
150.355
130.915
152.854
104.397
163.622
118.584
124.513
108.649
157.610
Consumption expenditures 1
Gross investment2.............
Structures.......................
Equipment and software
Federal...............................................
132.071
163.015
108.456
175.330
Consumption expenditures.....
Gross investment....................
Structures..........................
Equipment and software.....
138.002 137.694 140.125 142.621
National defense.........................
Consumption expenditures.....
Gross investment....................
Structures..........................
Equipment and software.....
16
17
18
19
20
120.318 120.127 120.154 120.506 120.614 121.469 122.949
Nondefense..................................
119.305 119.048 118.943 119.441 119.214 120.061 121.235
128.081 128.357 129.334 128.627 131.166 132.081 135.821
89.113 92.648 91.097 93.662 96.374 100.780 98.994
145.967 144.470 146.829 144.310 146.668 145.551 152.354
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
21
22
23
24
25
107.642 110.167 109.957 110.484 110.914 110.844 111.517
State and lo c a l.................................
129.097
157.208
93.490
165.275
107.669
107.447
104.247
123.013
109.828
111.471
107.965
128.636
109.624
111.232
107.780
128.091
110.046
112.188
108.713
129.163
110.478
112.612
108.950
130.667
110.874
110.632
106.396
132.115
111.201
112.741
108.713
132.924
1. Government consumption expenditures are sen/ices (such as education and national defense) produced by government
that are valued at their cost of production. Excludes government sales to other sectors and government own-account invest
ment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
2007
II
Government consumption
expenditures and gross
investment...........................
132.457 131.394 134.826 134.343 136.773 137.921
159.765 160.322 162.446 163.647 166.030 180.174
105.467 93.676 108.220 127.851 110.037 123.836
166.336 168.845 168.967 167.228 172.794 186.813
11
12
13
14
15
132.315 135.596 134.701
117.054
121.846
108.862
147.731
2007
II
1
2
3
4
5
114.036
116.662
103.300
143.703
2006
Consumption expenditures.........
Gross investment........................
Structures..............................
Equipment and software.........
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
III
2008
IV
I
II
127.239 132.941 132.386 133.497 135.174 137.237 139.588
128.804 134.359 133.820 134.878 136.669 139.047 141.695
120.099 126.461 125.834 127.183 128.346 128.990 130.006
136.245 147.467 146.415 148.712 150.761 151.825 153.179
96.777 97.122 97.027 97.193 97.247 97.371
97.956
125.806 130.076 130.037 130.342 131.070 132.879 134.553
129.409 134.215 134.217 134.490 135.294
103.802 105.078 104.814 105.287 105.586
134.408 141.487 140.852 142.143 143.406
99.179 99.751
99.538 99.908 100.079
137.386
105.838
144.468
100.223
139.241
106.520
144.946
100.926
127.381 131.874 131.701 132.232 133.237 134.905 136.967
131.213
103.657
136.094
101.047
136.220
105.255
143.122
102.270
136.085
104.874
142.737
101.892
136.573
105.625
143.852
102.616
137.704
105.920
144.374
102.891
139.603
106.296
145.342
103.220
141.872
107.217
145.282
104.211
16
17
18
19
20
122.803 126.636 126.869 126.721 126.886 128.986 129.868
21
22
23
24
25
128.109 134.671 133.806 135.400 137.649 139.866 142.632
125.964 130.378 130.659 130.499 130.637 133.128 134.139
103.916 104.556 104.529 104.446 104.753 104.758 104.948
133.556 140.686 139.870 141.275 143.087 144.225 145.078
94.779 93.892 94.055 93.622 93.557 93.278 93.299
128.485 134.517 133.634 135.190 137.612 140.173 143.333
126.675 135.383 134.590 136.337 137.896 138.722 139.890
136.359 147.857 146.776 149.139 151.244 152.308 153.727
93.009 92.969 93.075 92.896 92.756 92.846 93.232
1. Government consumption expenditures are services (such as education and national defense) produced by government
that are valued at their cost of production. Excludes government sales to other sectors and government own-account invest
ment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
National Data
D -2 4
N ovem ber
2008
Table 3.9.5. Government Consumption Expenditures and
Gross Investment
Table 3.9.6. Real Government Consumption Expenditures and
Gross Investment, Chained Dollars
[Billions of dollars]
[B illions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Government consumption
expenditures and gross
investm ent...........................
Consumption expenditures 1
Gross investment2..............
Structures........................
Equipment and software...
Federal................................................
Consumption expenditures......
Gross investment.....................
Structures............................
Equipment and software......
National defense..........................
Consumption expenditures......
Gross investment.....................
Structures............................
Equipment and software......
Nondefense...................................
Consumption expenditures......
Gross investment.....................
Structures............................
Equipment and software......
State and local..................................
Consumption expenditures..........
Gross investment........................
Structures...............................
Equipment and software..........
III
Seasonally adjusted at annual rates
2008
IV
I
Line
Government consumption
expenditures and gross
investment...........................
2,508.1
2,674.8
2,655.9
2,703.5
2,742.9
2,798.1
2,873.7
2,212.0
462.8
299.4
163.5
2,195.5
460.4
295.7
164.7
2,234.4
469.1
304.1
165.0
2,266.8
476.1
310.7
165.5
2,324.3
473.9
305.2
168.6
2,380.9
492.8
315.0
177.8
6
7
8
9
10
932.2
979.3
974.6
994.0
998.3
1,026.5
1,056.1
Federal...............................................
811.8
120.3
16.2
104.1
856.1
123.2
18.4
104.9
851.1
123.5
17.2
106.3
869.1
124.9
18.7
106.2
871.6
126.7
20.6
106.1
898.0
128.5
20.0
108.5
918.2
138.0
20.9
117.1
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
11
12
13
14
15
624.1
662.2
656.8
675.6
679.3
699.9
723.3
National defense.........................
544.6
79.5
6.3
73.2
580.1
82.1
7.5
74.6
574.8
82.1
6.6
75.4
591.9
83.7
7.7
76.0
594.7
84.6
9.2
75.4
613.8
86.1
7.9
78.2
629.0
94.3
8.9
85.4
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
16
17
18
19
20
308.0
317.1
317.8
318.3
319.0
326.6
332.9
Nondefense..................................
267.2
40.8
9.9
30.9
276.0
41.1
10.9
30.3
276.4
41.4
10.6
30.8
277.2
41.2
11.0
30.2
276.9
42.1
11.5
30.6
284.2
42.4
12.1
30.3
289.2
43.7
12.0
31.7
Consumption expenditures.....
Gross investment....................
Structures...........................
Equipment and software.....
21
22
23
24
25
1,575.9
1,695.5
1,681.3
1,709.5
1,744.6
1,771.6
1,817.6
State and local.................................
1,269.6
306.3
250.2
56.1
1,355.9
339.6
281.0
58.6
1,344.4
336.9
278.4
58.4
1,365.3
344.2
285.4
58.8
1,395.2
349.4
290.0
59.4
1,426.3
345.3
285.2
60.1
1,462.7
354.9
294.1
60.7
Consumption expenditures.........
Gross investment........................
Structures..............................
Equipment and software.........
Residual.........................................
1. Government consumption expenditures are services (such as education and national defense) produced by government
that are valued at their cost of production. Excludes government sales to other sectors and government own-account invest
ment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
2007
II
2,081.5
426.7
266.5
160.2
1
2
3
4
5
2006
Consumption expenditures 1
Gross investment2.............
Structures.......................
Equipment and software
2007
2008
II
III
IV
I
II
1
2
3
4
5
1,971.2
2,012.1
2,006.4
2,025.3
2,029.4
2,039.1
2,058.9
1,616.0
355.3
195.6
165.5
1,646.3
366.0
203.0
168.3
1,640.8
365.9
202.0
169.7
1,656.7
368.9
204.5
169.8
1,658.8
371.0
206.1
170.2
1,671.7
367.4
201.1
173.2
1,680.4
379.2
205.7
181.5
6
7
8
9
10
741.0
752.9
749.6
762.7
761.7
772.6
785.0
627.3
115.9
12.1
105.0
637.8
117.3
13.0
105.1
634.2
117.8
12.2
106.8
646.3
118.7
13.2
106.3
644.3
120.0
14.4
106.0
653.7
121.5
13.9
108.3
659.5
129.5
14.4
116.0
11
12
13
14
15
490.0
502.1
498.8
511.0
509.9
518.9
528.1
415.0
76.7
4.6
72.5
425.8
78.0
5.2
72.9
422.4
78.3
4.7
74.0
433.5
79.3
5.4
74.1
431.9
79.9
6.4
73.3
439.7
81.0
5.5
75.8
443.4
87.9
6.2
81.9
16
17
18
19
20
250.8
250.4
250.5
251.2
251.5
253.2
256.3
212.2
39.3
7.4
32.6
211.7
39.3
7.7
32.3
211.5
39.6
7.6
32.8
212.4
39.4
7.8
32.2
212.0
40.2
8.0
32.7
213.5
40.5
8.4
32.5
215.6
41.6
8.2
34.0
21
22
23
24
25
26
1,230.2
1,259.0
1,256.6
1,262.6
1,267.5
1,266.7
1,274.4
988.2
241.8
183.5
60.3
-5.1
1,008.0
250.9
190.1
63.1
-4.7
1,006.1
250.3
189.7
62.8
-5.2
1,010.0
252.5
191.4
63.3
-4.8
1,013.9
253.4
191.8
64.0
-4.6
1,017.6
249.0
187.3
64.8
-6.0
1,020.6
253.7
191.4
65.2
-7.6
1. Government consumption expenditures are services (such as education and national defense) produced by government
that are valued at their cost of production. Excludes government sales to other sectors and government own-account invest
ment (construction and software).
2. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the
difference between the first line and the sum of the most detailed lines.
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -2 5
Table 3.10.1. Percent Change From Preceding Period in Real Government Consumption Expenditures and
General Government Gross Output
[Percent]
Seasonally adjusted at annual rates
Line
2007
2006
2007
II
Government consumption expenditures 1..................................................................................
Gross output of general government...................................................................................
Value added....................................................................................................................
Compensation of general government employees......................................................
Consumption of general government fixed capital2....................................................
Intermediate goods and services purchased 3................................................................
Durable goods............................................................................................................
Nondurable goods......................................................................................................
Services......................................................................................................................
Less: Own-account investment4.........................................................................................
Sales to other sectors..............................................................................................
Federal consumption expenditures ' .........................................................................................................
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods.................................................................................................................
Nondurable goods...........................................................................................................
Services..........................................................................................................................
Less: Own-account investment4.............................................................................................
Sales to other sectors.................................................................................................
Defense consumption expenditures 1 ..............................................................................................
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods.................................................................................................................
Nondurable goods...........................................................................................................
Services..........................................................................................................................
Less: Own-account investment4............................................................................................
Sales to other sectors..................................................................................................
Nondefense consumption expenditures 1........................................................................................
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods.................................................................................................................
Other nondurable goods.............................................................................................
Services..........................................................................................................................
Less: Own-account investment4............................................................................................
Sales to other sectors.................................................................................................
State and local consumption expenditures 1...........................................................................................
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods.................................................................................................................
Nondurable goods...........................................................................................................
Services..........................................................................................................................
Less: Own-account investment4.............................................................................................
Sales to other sectors..................................................................................................
Tuition and related educational charges..................................................................
Health and hospital charges....................................................................................
Other sales.............................................................................................................
2008
IV
III
I
II
2.1
1
2
3
4
5
6
7
8
9
10
11
1.6
1.9
2.9
3.9
0.5
3.2
1.3
0.6
0.2
3.1
2.4
5.9
1.6
2.4
-1.5
-0.5
1.9
1.3
1.0
3.1
2.8
6.2
2.8
2.5
3.5
1.8
2.8
0.8
0.4
3.0
6.1
16.3
2.7
6.5
7.9
1.8
3.9
2.1
2.0
2.8
6.7
20.0
5.3
6.1
3.8
3.3
0.3
1.6
1.4
2.7
-1.6
4.0
-4.1
-1.1
0.7
-0.8
2.9
2.2
2.2
2.6
3.9
6.8
2.1
4.4
-10.2
2.1
2.1
2.4
2.2
3.5
1.5
10.3
2.0
0.5
4.1
1.6
12
13
14
15
16
17
18
19
20
21
22
1.4
1.7
4.9
7.8
-1.2
6.0
3.6
1.3
-0.1
-1.1
3.5
3.1
8.6
-1.3
3.1
-1.7
-10.0
1.6
0.7
0.0
3.5
2.7
7.8
0.9
2.3
^ .1
-1.4
4.7
-0.5
-1.6
3.5
11.8
25.3
1.5
11.7
-4.7
-6.3
8.3
3.8
4.0
3.1
14.2
32.0
19.6
11.3
4.3
73.5
-2.1
1.4
0.9
3.0
-6.2
5.1
-30.6
-3.6
-11.2
-58.4
5.7
3.7
4.0
2.7
8.1
10.8
9.3
7.6
-10.4
-14.4
3.6
4.3
4.6
3.6
2.7
15.7
6.4
0.5
-7.3
11.2
23
24
2b
26
2/
28
29
30
31
32
33
0.8
2.6
6.7
10.9
-1.4
7.4
3.4
0.9
-0.5
-1.6
3.0
2.6
8.4
-3.6
2.4
-2.0
6.7
2.6
0.5
-0.4
3.1
5.2
8.5
2.8
4.9
-4.5
7.4
5.9
-0.7
-1.8
3.1
14.2
26.5
-4.9
14.6
-7.5
-62.6
11.8
4.2
4.7
2.9
21.0
34.4
34.8
17.4
-5.0
264.4
-2.5
1.2
0.7
2.8
-6.5
4.6
-49.1
-1.8
-4.8
-80.4
7.0
3.1
3.3
2.6
11.6
11.5
12.3
11.6
-12,7
-39.2
3.4
4.0
4.2
3.5
2.7
16.5
10.1
-0.4
-10.1
12.3
2.6
34
35
36
37
38
39
40
41
4?
43
44
45
46
-0.2
1.2
1.7
-0.8
2.9
4.0
2.1
0.6
-0.2
5.0
4.3
11.7
-0.4
1.3
0.6
4.6
-2.8
0.9
2.4
-0.2
-1.1
4.3
6.4
12.2
1.5
3.0
2.9
3.6
-0.7
6.1
-1.1
1.7
1.4
3.5
-5.3
10.7
2.9
4.9
5.4
2.8
-0.2
1.9
4.0
4.9
5.2
3.7
2.5
5.2
-0.8
4.5
-1.4
-20.3
-1.8
-3.1
-3.8
-8.9
12.1
5.5
-2.4
138.4
-1.5
-1.4
12.2
-15.5
6.3
-7.7
-15.9
-13.7
5.1
-1.4
-8.6
10.5
6.4
2.7
-5.1
10.5
47
48
49
50
51
52
53
54
55
56
57
58
59
60
1.7
2.0
1.7
1.5
1.6
1.4
1.2
1.3
0.9
0.6
2.7
1.9
1.9
2.2
1.8
-1.5
-0.2
0.7
-2.4
2.4
2.0
1.6
1.4
2.7
2.8
3.6
3.2
2.6
5.4
1.9
1.1
1.5
3.0
1.9
1.4
1.3
2.7
2.7
3.9
2.9
2.5
10.9
2.1
0.7
2.3
2.7
1.7
1.3
1.2
2.6
2.2
3.2
2.8
1.8
3.7
2.0
0.4
2.2
2.7
1.6
1.7
1.5
2.6
1.4
2.4
1.9
1.0
3.4
1.3
0.5
1.8
1.3
1.5
1.6
1.4
2.5
1.4
0.6
0.9
1.7
-10.1
2.5
2.0
2.0
3.6
1.3
1.6
1.3
3.5
0.8
2.1
1.2
0.4
6.5
1.4
2.0
2.0
0.2
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in soft
ware in table 3.9.5.
National Data
D -2 6
N ovem ber
Table 3.10.3. Real Government Consumption Expenditures and
General Government Gross Output, Quantity Indexes
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
II
III
2008
IV
I
II
Government consumption expenditures 1..................................................................................
1
114.036
116.177
115.787
116.911
117.054
117.969
118.584
Gross output of general government...................................................................................
Value added....................................................................................................................
Compensation of general government employees......................................................
Consumption of general government fixed capital2....................................................
Intermediate goods and services purchased 3................................................................
Durable goods............................................................................................................
Nondurable goods.......................................................................................................
Services......................................................................................................................
Less: Own-account investment4.........................................................................................
Sales toother sectors..............................................................................................
2
3
4
5
6
7
8
9
10
11
113.501
106.991
105.415
116.639
125.668
127.388
117.172
128.535
109.591
110.483
115.637
108.403
106.483
120.211
129.172
135.247
120.430
131.716
113.472
112.458
115.266
108.073
106.165
119.808
128.724
133.033
120.161
131.353
113.418
112.179
116.363
108.634
106.680
120.651
130.834
139.226
121.735
133.300
114.494
113.105
116.456
109.058
107.042
121.472
130.303
140.611
120.457
132.919
114.684
112.880
117.287
109.661
107.616
122.253
131.557
142.939
121.092
134.350
111.647
113.481
117.886
110.322
108.212
123.318
132.046
146.498
121.689
134.503
112.764
113.938
Federal consumption expenditures 1.........................................................................................................
12
13
14
15
16
1/
18
19
20
21
22
125.637
127.744
127.012
129.427
129.032
130.915
132.071
125.231
106.857
105.769
111.216
156.793
143.477
156.342
159.115
112.762
101.447
127.251
107.655
105.768
115.096
161.051
154.736
157.686
162.834
108.130
99.992
126.507
107.026
105.082
114.687
160.112
150.876
157.815
162.113
108.027
97.894
129.057
108.030
106.119
115.565
165.505
161.735
165.041
166.528
109.183
112.356
128.384
108.402
106.369
116.413
162.891
163.740
150.643
165.006
105.986
90.211
130.172
109.403
107.428
117.186
166.109
167.994
154.043
168.068
103.115
86.760
131.323
110.570
108.630
118.214
167.205
174.220
156.448
168.282
101.174
89.103
23
24
2b
26
2/
28
29
30
31
32
33
129.097
132.457
131.394
134.826
134.343
136.773
137.921
129.245
107.490
107.634
108.009
165.878
140.057
141.326
174.871
140.455
147.916
132.615
107.989
107.247
111.333
174.466
151.923
145.268
183.437
134.069
158.862
131.446
107.304
106.465
110.956
172.429
147.906
145.260
181.464
134.666
138.761
135.148
108.426
107.690
111.751
180.841
159.259
156.506
188.880
132.967
191.719
134.289
108.747
107.873
112.518
177.813
161.068
132.219
188.019
131.345
127.489
136.595
109.583
108.743
113.253
182.777
165.524
136.110
193.245
126.970
112.586
137.740
110.665
109.860
114.231
184.007
171.966
139.410
193.068
123.628
115.894
34
35
36
37
38
39
40
41
47
43
44
45
46
119.305
119.048
118.943
119.441
119.214
120.061
121.235
118.091
105.759
102.963
120.338
140.031
189.785
117.634
107.103
103.588
125.857
136.156
191.432
117.671
106.576
103.058
125.356
137.270
190.135
118.107
107.366
103.790
126.477
137.018
192.949
117.776
107.832
104.149
127.566
135.177
197.895
118.612
109.139
105.523
128.451
135.112
198.811
119.775
110.463
106.867
129.623
135.958
201.337
195.178
133.542
97.917
81.276
191.742
129.393
94.236
74.060
192.717
130.703
93.744
80.335
191.994
130.254
96.490
77.019
194.955
127.656
92.406
74.232
197.377
127.203
90.355
76.115
200.452
128.050
89.184
78.044
47
48
49
50
51
52
53
54
55
56
57
58
59
60
107.669
109.828
109.624
110.046
110.478
110.874
111.201
108.282
107.046
105.306
121.820
110.600
108.543
111.491
110.307
109.000
110.778
104.864
107.533
120.372
110.470
108.732
106.797
125.143
113.735
112.493
115.011
113.163
114.845
112.849
105.994
109.117
123.990
110.263
108.535
106.624
124.741
113.511
112.140
114.685
113.009
114.805
112.621
105.945
108.852
123.671
110.718
108.898
106.933
125.559
114.137
113.039
115.471
113.523
115.864
113.173
106.058
109.451
124.511
111.146
109.346
107.338
126.363
114.528
113.720
116.024
113.797
116.828
113.553
106.200
109.932
124.927
111.560
109.773
107.722
127.154
114.918
113.888
116.279
114.288
113.749
114.265
106.732
110.481
126.045
111.920
110.210
108.078
128.257
115.142
114.468
116.628
114.404
115.566
114.670
107.264
111.033
126.109
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods.................................................................................................................
Nondurable goods............................................................................................................
Services..........................................................................................................................
Less: Own-account investment4.............................................................................................
Sales to other sectors..................................................................................................
Defense consumption expenditures 1 ..............................................................................................
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods.................................................................................................................
Nondurable goods............................................................................................................
Services..........................................................................................................................
Less: Own-account investment4.............................................................................................
Sales to other sectors..................................................................................................
Nondefense consumption expenditures 1........................................................................................
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods..................................................................................................................
Other nondurable goods..............................................................................................
Services...........................................................................................................................
Less: Own-account investment4.............................................................................................
Sales toother sectors..................................................................................................
State and local consumption expenditures 1...........................................................................................
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods..................................................................................................................
Nondurable goods............................................................................................................
Services..........................................................................................................................
Less: Own-account investment4.............................................................................................
Sales to other sectors..................................................................................................
Tuition and related educational charges..................................................................
Health and hospital charges....................................................................................
Other sales..............................................................................................................
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in soft
ware in table 3.9.5.
2008
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -2 7
Table 3.10.4. Price Indexes for Government Consumption Expenditures and
General Government Gross Output
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
II
Government consumption expenditures 1..................................................................................
Gross output of general government...................................................................................
Value added....................................................................................................................
Compensation of general government employees......................................................
Consumption of general government fixed capital2....................................................
Intermediate goods and services purchased 3................................................................
Durable goods..................................
Nondurable goods............................
Services............................................
Less: Own-account investment4...............
Sales to other sectors....................
Federal consumption expenditures 1.........................................................................................................
Gross output of general government........................
Value added..........................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods.................................................................................................................
Nondurable goods...........................................................................................................
Services..........................................................................................................................
Less: Own-account investment4............................................................................................
Sales to other sectors.................................................................................................
Defense consumption expenditures 1
Gross output of general government..
Value added..................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods...........................
Nondurable goods...........................................................................................................
Services..........................................................................................................................
Less: Own-account investment4............................................................................................
Sales to other sectors.
Nondefense consumption expenditures 1
Gross output of general government.......................................................................................
Value added.......................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods.................................................................................................................
Nondurable goods..........
Commodity Credit Corporation inventory change........................................................
Other nondurable goods.............................................................................................
Services..........................................................................................................................
Less: Own-account investment4............................................................................................
Sales to other sectors.
State and local consumption expenditures 1
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods.................................................................................................................
Nondurable goods..........
Services..........................................................................................................................
Less: Own-account investment4............................................................................................
Sales to other sectors.................................................................................................
Tuition and related educational charges..................................................................
Health and hospital charges....................................................................................
Other sales.............................................................................................................
III
2008
IV
I
II
128.804
134.359
133.820
134.878
136.669
139.047
141.695
128.665
130.843
133.771
115.252
124.888
106.594
140.070
121.891
124.494
128.096
134.197
136.547
139.519
120.682
130.138
107.355
148.731
126.514
129.105
133.553
133.628
136.058
139.042
120.137
129.454
107.273
147.176
126.041
128.559
132.784
134.699
137.091
140.053
121.268
130.581
107.271
148.662
127.175
129.653
133.942
136.510
138.142
141.108
122.286
133.528
107.470
158.706
128.109
130.793
135.929
138.733
139.658
142.722
123.312
136.809
107.837
169.221
129.367
132.347
137.206
141.173
140.764
143.833
124.385
141.248
108.460
182.830
131.262
133.874
138.369
12
13
14
15
16
17
18
19
20
21
22
129.409
134.215
134.217
134.490
135.294
137.386
139.241
129.318
136.545
145.848
109.674
119.930
104.845
133.758
120.285
130.184
119.313
134.117
142.629
153.196
112.290
123.265
104.642
139.217
123.877
135.161
123.360
134.116
143.041
153.915
111.886
122.820
104.691
136.892
123.581
135.372
122.960
134.391
142.719
153.209
112.580
123.740
104.293
139.896
124.439
135.524
123.434
135.197
143.022
153.405
113,157
125.078
104.345
148.996
125.043
135.524
124,884
137.278
145.621
156.846
113.502
126.576
104.337
154.817
126.276
137.738
125.743
139.123
146.562
157.787
114.427
129.368
104.850
170.131
127.973
138.791
126.775
23
24
25
26
27
28
29
30
31
32
33
131.213
136.220
136.085
136.573
137.704
139.603
141.872
131.190
139.545
151.433
111.114
120.944
106.255
149.576
121.147
132.160
126.570
136.200
146.218
159.639
114.249
124.212
106.301
156.573
124.706
137.008
132.067
136.065
146.514
160.298
113.736
123.662
106.313
153.172
124.286
137.244
131.732
136.552
146.472
159.797
114.709
124.664
105.956
156.904
125.300
137.669
132.150
137.682
147,018
160.322
115.297
126.338
106.067
172.884
126.045
137.219
133.879
139.582
149.545
163.763
115.762
127.603
106.142
180.365
127.053
139.726
135.565
141.847
150.754
164.975
116.945
130.834
106.740
209.218
128.757
141.220
137.537
34
35
36
37
38
39
40
41
42
43
44
45
46
125.964
130.378
130.659
130.499
130.637
133.128
134.139
125.805
131.334
137.396
105.956
117.819
89.990
130.200
136.397
143.439
107.265
121.314
87.379
130.468
137.008
144.250
107.133
121.122
87.810
130.321
136.205
143.232
107.129
121.853
86.995
130.479
136.086
142.928
107.681
122.386
86.423
132.929
138.809
146.369
107.725
124.457
85.568
133.929
139.289
146.901
108.007
126.169
85.170
117.215
118.890
128.498
114.981
121.338
122.569
133.568
117.891
120.050
122.552
133.760
117.423
122.336
123.063
133.703
117.964
124.497
123.343
134.044
119.188
128.643
125.119
136.032
119.503
130.852
126.810
136.750
119.951
128.485
134.517
133.634
135.190
137.612
140.173
143.333
128.379
128.464
129.517
120.189
128.245
108.948
141.168
123.229
123.101
128.311
152.756
125.955
116.990
134.287
134.010
134.707
128.103
134.810
111.263
150.480
128.737
127.627
133.804
162.313
130.111
122.004
133.426
133.147
133.817
127.434
133.955
110.953
149.091
128.111
126.927
133.025
161.181
129.434
121.286
134.904
134.741
135.419
128.950
135.226
111.609
150.258
129.486
128.215
134.202
163.240
130.276
122.418
137.230
136.102
136.771
130.359
139.295
112.062
160.480
130.707
129.581
136.203
166.002
132.143
124.167
139.527
137.167
137.751
131.989
143.815
113.079
171.909
131.986
131.002
137.490
168.651
132.719
125.647
142.275
138.343
138.921
133.193
149.406
113.893
185.162
134.054
132.618
138.655
171.447
133.537
126.388
1
2
3
4
5
6
7
8
9
10
11
47
48
49
50
51
52
53
54
55
56
57
58
59
60
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of qeneral government employees and related expenditures for qoods and services and is classified as investment in structures and in soft
ware in table 3.9.5.
National Data
D -2 8
N ovem ber
Table 3.10.5. Government Consumption Expenditures and General
Government Gross Output
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2,081.5
2,212.0
2,195.5
2,234.4
2,266.8
2,324.3
2,380.9
2,427.7
1,497.3
1,273.7
223.7
930.3
59.9
238.5
632.0
24.7
321.5
2,579.7
1,583.2
1,341.8
241.4
996.5
64.0
260.3
672.2
26.5
341.2
2,560.3
1,572.7
1,333.2
239.5
987.6
62.9
256.9
667.8
26.4
338.4
2,605.4
1,592.8
1,349.4
243.4
1,012.5
65.9
262.9
683.8
26.9
344.2
2,642.5
1,611.3
1,364.2
247.1
1,031.2
66.6
277.7
686.8
27.1
348.6
2,704.7
1,638.0
1,387.2
250.8
1,066.7
68.0
297.7
701.0
26.7
353.7
2,766.3
1,661.0
1,405.8
255.2
1,105.4
70.1
323.2
712.1
27.3
358.1
2007
II
Government consumption expenditures 1..................................................................................
Gross output of general government...................................................................................
Value added.....................................................................................................................
Compensation of general government employees......................................................
Consumption of general government fixed capital2....................................................
Intermediate goods and services purchased 3................................................................
Durable goods............................................................................................................
Nondurable goods.......................................................................................................
Services......................................................................................................................
Less: Own-account investment4.........................................................................................
Sales to other sectors..............................................................................................
Federal consumption expenditures 1.........................................................................................................
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods.................................................................................................................
Nondurable goods............................................................................................................
Services..........................................................................................................................
Less: Own-account investment4.............................................................................................
Sales to other sectors..................................................................................................
Defense consumption expenditures 1 ..............................................................................................
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods.................................................................................................................
Nondurable goods............................................................................................................
Services..........................................................................................................................
Less: Own-account investment4.............................................................................................
Sales to other sectors..................................................................................................
Nondefense consumption expenditures 1........................................................................................
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods.................................................................................................................
Nondurable goods............................................................................................................
Commodity Credit Corporation inventory change........................................................
Other nondurable goods..............................................................................................
Services..........................................................................................................................
Less: Own-account investment4.............................................................................................
Sales to other sectors..................................................................................................
State and local consumption expenditures 1...........................................................................................
Gross output of general government.......................................................................................
Value added........................................................................................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods.................................................................................................................
Nondurable goods............................................................................................................
Services..........................................................................................................................
Less: Own-account investment4.............................................................................................
Sales to other sectors..................................................................................................
Tuition and related educational charges..................................................................
Health and hospital charges....................................................................................
Other sales.............................................................................................................
1
2
3
4
b
6
7
8
9
10
11
12
13
14
15
16
1/
18
19
20
21
22
23
24
2b
26
2!
2b
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
III
2008
IV
I
II
811.8
856.1
851.1
869.1
871.6
898.0
918.2
824.6
460.1
360.6
99.5
364.4
36.1
39.6
288.7
4.7
8.0
869.0
484.2
378.8
105.5
384.7
38.9
41.5
304.3
4.7
8.2
863.8
482.8
378.1
104.7
381.1
38.0
40.9
302.2
4.7
8.0
883.0
486.2
380.1
106.2
396.8
40.5
43.7
312.6
4.8
9.2
883.7
488.9
381.4
107.5
394.8
41.1
42.5
311.2
4.6
7.5
909.8
502.4
393.9
108.5
407,4
42.1
45.1
320.1
4.6
7.2
930.2
511.1
400.7
110.4
419.1
43.9
50.4
324.8
4.5
7.5
544.6
580.1
574.8
591.9
594.7
613.8
629.0
550.3
298.8
226.5
72.3
251.6
33.1
22.0
196.4
2.1
3.6
586.3
314.5
237.9
76.6
271.8
36.0
23.7
212.1
2.1
4.1
580.4
313.1
237.1
76.0
267.3
35.0
23.2
209.1
2.1
3.6
598.9
316.3
239.1
77.2
282.6
37.6
25.7
219.4
2.1
4.9
600.0
318.4
240.3
78.1
281.6
38.0
23.9
219.7
2.0
3.3
618.8
326.4
247.4
79.0
292.4
39.1
25.7
227.6
2.0
3.0
634.1
332.3
251.8
80.5
301.8
40.9
30.5
230.4
2.0
3.1
267.2
276.0
276.4
277.2
276.9
284.2
289.2
274.2
161.4
134.1
27.3
112.9
3.0
17.5
-0.1
17.6
92.3
2.6
4.4
282.7
169.7
140.9
28.9
113.0
2.9
17.8
-0.1
17.9
92.2
2.6
4.1
283.4
169.7
141.0
28.7
113.7
2.9
17.6
-0.1
17.8
93.1
2.6
4.4
284.1
169.9
141.0
29.0
114.2
3.0
18.0
0.0
18.0
93.2
2.7
4.2
283.7
170.5
141.1
29.4
113.2
3.0
18.6
-0.1
18.6
91.6
2.6
4.1
291.0
176.0
146.4
29.6
115.0
3.0
19.5
0.0
19.5
92.5
2.6
4.2
296.1
178.8
148.9
29.9
117.3
3.0
19.9
-0.3
20.1
94.4
2.6
4.4
1,269.6
1,355.9
1,344.4
1,365.3
1,395.2
1,426.3
1,462.7
1,603.1
1,037.2
913.0
124.1
565.9
23.7
198.9
343.3
19.9
313.5
71.0
142.9
99.6
1,710.7
1,099.0
963.1
135.9
611.7
25.1
218.7
367.9
21.8
333.0
76.2
149.8
107.0
1,696.5
1,089.9
955.1
134.8
606.6
25.0
216.0
365.6
21.7
330.4
75.7
148.7
106.1
1,722.3
1,106.6
969.4
137.3
615.7
25.3
219.2
371.2
22.1
335.0
76.7
150.4
107.8
1,758.8
1,122.4
982.8
139.6
636.4
25.6
235.3
375.6
22.5
341.1
78.1
153.3
109.7
1,794.9
1,135.6
993.3
142.3
659.3
25.8
252.6
380.9
22.1
346.5
79.8
154.7
112.0
1,836.2
1,149.9
1,005.1
144.8
686.3
26.2
272.8
387.3
22.8
350.7
81.5
156.4
112.7
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in soft
ware in table 3.9.5.
2008
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -2 9
Table 3.10.6. Real Government Consumption Expenditures and General
Government Gross Output, Chained Dollars
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Government consumption expenditures 1..................................................................................
Gross output of general government....................
Value added.....................................................
Compensation of general government employees......................................................
Consumption of general government fixed capital2....................................................
Intermediate goods and services purchased 3................................................................
Durable goods............................................................................................................
Nondurable goods......................................................................................................
Services.........
Less: Own-account investment4.........................................................................................
Sales to other sectors.............................................................................................
Federal consumption expenditures 1...................................
Gross output of general government........................
Value added.........................................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3
Durable goods.................................................................................................................
Nondurable goods...........................................................................................................
Services........................
Less: Own-account investment4............................................................................................
Sales to other sectors.
Defense consumption expenditures 1
Gross output of general government.......................................................................................
Value added.............................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods......................................
Nondurable goods................................
Services...............................................
Less: Own-account investment4
......................................................................................
Sales to other sectors...........
Nondefense consumption expenditures 1
Gross output of general government.
Value added.................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3
Durable goods..................................................
Nondurable goods............................................
Commodity Credit Corporation inventory change........................................................
Other nondurable goods.............................................................................................
Services...........................................................
Less: Own-account investment4
......................................................................................
Sales to other sectors...........
State and local consumption expenditures 1
Gross output of general government.
Value added.................................
Compensation of general government employees...........................................................
Consumption of general government fixed capital2........................................................
Intermediate goods and services purchased 3....................................................................
Durable goods......................................
Nondurable goods................................
Services...............................................
Less: Own-account investment4..................
Sales to other sectors.......................
Tuition and related educational charges..................................................................
Health and hospital charges...................................................................................
Other sales.......................
Residual..............................................................................................................................................
III
2008
IV
I
II
1
2
3
4
5
6
7
8
9
10
11
1,616.0
1,646.3
1,640.8
1,656.7
1,658.8
1,671.7
1,680.4
1,886.8
1,144.4
952.1
194.1
744.9
56.2
170.3
518.5
19.8
251.0
1,922.3
1,159.5
961.8
200.0
765.7
59.6
175.0
531.3
20.5
255.5
1,916.1
1,155.9
958.9
199.3
763.1
58.7
174.6
529.9
20.5
254.9
1,934.4
1,161.9
963.5
200.7
775.6
61.4
176.9
537.7
20.7
257.0
1,935.9
1,166.5
966.8
202.1
772.4
62.0
175.0
536.2
20.8
256.4
1,949.7
1,172.9
972.0
203.4
779.8
63.0
176.0
542.0
20.2
257.8
1,959.7
1,180.0
977.4
205.2
782.7
64.6
176.8
542.6
20.4
258.8
12
13
14
15
16
17
18
19
20
21
22
627.3
637.8
634.2
646.3
644.3
653.7
659.5
637.6
337.0
247.2
90.8
303.9
34.5
29.6
240.1
3.6
6.7
647.9
339.5
247.2
93.9
312.1
37.2
29.8
245.7
3.5
6.6
644.1
337.5
245.6
93.6
310.3
36.3
29.8
244.6
3.5
6.5
657.1
340.7
248.1
94.3
320.8
38.9
31.2
251.2
3.5
7.4
653.7
341.9
248.6
95.0
315.7
39.3
28.5
248.9
3.4
6.0
662.8
345.0
251.1
95.6
321.9
40.4
29.1
253.6
3.3
5.7
668.7
348.7
253.9
96.5
324.1
41.9
29.6
253.9
3.3
5.9
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
415.0
425.8
422.4
433.5
431.9
439.7
443.4
419.5
214.1
149.6
65.1
208.0
31.2
14.7
162.1
1.6
2.9
430.4
215.1
149.0
67.1
218.8
33.8
15.1
170.1
1.5
3.1
426.6
213.7
147.9
66.8
216.2
32.9
15.1
168.2
1.5
2.7
438.7
216.0
149.6
67.3
226.8
35.5
16.3
175.1
1.5
3.7
435.9
216.6
149.9
67.8
223.0
35.9
13.8
174.3
1.5
2.5
443.4
218.3
151.1
68.2
229.2
36.9
14.2
179.2
1.4
2.2
447.1
220.4
152.6
68.8
230.8
38.3
14.5
179.0
1.4
2.3
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
212.2
211.7
211.5
212.4
212.0
213.5
215.6
218.0
122.9
97.6
25.7
95.8
3.3
14.9
-0.1
15.0
77.7
2.1
3.8
217.1
124.4
98.2
26.9
93.1
3.4
14.7
-0.1
14.7
75.2
2.0
3.5
217.2
123.8
97.7
26.8
93.9
3.4
14.6
-0.2
14.8
76.0
2.0
3.8
218.0
124.7
98.4
27.0
93.7
3.4
14.7
0.0
14.8
75.7
2.0
3.6
217.4
125.3
98.8
27.3
92.5
3.5
14.9
0.0
15.0
74.2
1.9
3.5
219.0
126.8
100.1
27.5
92.4
3.5
15.1
0.0
15.2
74.0
1.9
3.6
221.1
128.3
101.3
27.7
93.0
3.6
15.2
-0.2
15.4
74.5
1.9
3.6
988.2
1,008.0
1,006.1
1,010.0
1,013.9
1,017.6
1,020.6
1,248.7
807.4
705.0
103.3
441.3
21.8
140.9
278.6
16.2
244.3
46.5
113.5
85.1
-3.8
1,273.9
820.1
714.9
106.1
453.8
22.6
145.4
285.8
17.1
248.9
47.0
115.1
87.7
-4.9
1,271.6
818.6
713.8
105.8
452.9
22.5
144.9
285.4
17.1
248.4
46.9
114.9
87.5
-4.6
1,276.8
821.3
715.9
106.5
455.4
22.7
145.9
286.7
17.2
249.6
47.0
115.5
88.1
-5.5
1,281.7
824.7
718.6
107.1
456.9
22.8
146.6
287.4
17.4
250.5
47.1
116.0
88.4
-5.9
1,286.5
827.9
721.1
107.8
458.5
22.8
147.0
288.6
16.9
252.0
47.3
116.6
89.2
-6.4
1,290.7
831.2
723.5
108.7
459.4
23.0
147.4
288.9
17.2
252.9
47.5
117.2
89.2
-6.3
1. Government consumption expenditures are services (such as education and national defense) produced by government that are valued at their cost of production. Excludes government sales to other sectors and
government own-account investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in
software in table 3.9.5.
N o te . Chained (2 0 0 0 ) dollar series are calculated as the product of the chain-type quantity index and the 2 0 0 0 current-dollar value of the corresponding series, divided by 1 0 0 . Because the formula for the chain-type
quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed
lines.
National Data
D -3 0
N ovem ber
Table 3.11.1. Percent Change From Preceding Period in Real National Defense Consumption
Expenditures and Gross Investment by Type
[Percent]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
National defense consumption expenditures and gross investment.......................................
Consumption expenditures 1........................................................................................................................
Gross output of general government................................................................................................
Value added................................................................................................................................
Compensation of general government employees...................................................................
Military................................................................................................................................
Civilian................................................................................................................................
Consumption of general government fixed capital2................................................................
Intermediate goods and services purchased 3............................................................................
Durable goods.........................................................................................................................
Aircraft................................................................................................................................
Missiles...............................................................................................................................
Ships...................................................................................................................................
Vehicles...............................................................................................................................
Electronics..........................................................................................................................
Other durable goods...........................................................................................................
Nondurable goods...................................................................................................................
Petroleum products.............................................................................................................
Ammunition.........................................................................................................................
Other nondurable goods......................................................................................................
Services..................................................................................................................................
Research and development.................................................................................................
Installation support.............................................................................................................
Weapons support................................................................................................................
Personnel support...............................................................................................................
Transportation of material....................................................................................................
Travel of persons.................................................................................................................
Less: Own-account investment4.....................................................................................................
Sales to other sectors..........................................................................................................
Gross investm ent5.........................................................................................................................................
Structures........................................................................................................................................
Equipment and software.................................................................................................................
Aircraft.........................................................................................................................................
Missiles.......................................................................................................................................
Ships...........................................................................................................................................
Vehicles.......................................................................................................................................
Electronics and software.............................................................................................................
Other equipment.........................................................................................................................
III
2008
IV
I
II
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
1.6
0.8
2.5
2.6
8.5
6.7
10.2
10.9
-0.9
-1.4
7.3
7.4
7.3
3.4
0.9
-0.5
-1.6
-2.4
0.0
3.0
2.6
8.4
0.0
20.5
4.9
43.4
16.0
4.3
-3.6
-2.6
-4.8
-4.4
2.4
8.6
-2.5
-4.2
5.9
-2.2
-16.1
-2.0
6.7
2.6
0.5
-0.4
-0.8
0.6
3.1
5.2
8.5
4.4
7.4
2.1
34.4
22.0
-0.9
2.8
2.3
-3.7
7.6
4.9
-3.0
-0.2
11.8
6.5
50.5
9.6
-4.5
7.4
5.9
-0.7
-1.8
-2.4
-0.6
3.1
14.2
26.5
42.4
21.8
1.7
115.0
42.2
-11.5
-4.9
14.6
-40.5
-7.3
14.6
-10.1
10.3
60.4
23.0
63.3
0.8
-7.5
-62.6
11.8
4.2
4.7
6.0
1.9
2.9
21.0
34.4
40.9
12.5
108.8
17.8
36.3
31.0
34.8
43.7
96.6
-1.5
17.4
-19.6
16.4
45.8
30.7
106.1
44.5
-5.0
264.4
-2.5
1.2
0.7
-1.0
4.5
2.8
-6.5
4.6
27.8
24.6
-45.1
22.3
-15.6
-5.6
-49.1
-59.5
-44.3
-26.2
-1.8
16.1
-10.4
-15.9
2.0
-1.2
-41.8
-4.8
-80.4
7.0
3.1
3.3
5.7
-1.9
2.6
11.6
11.5
-30.3
-13.4
12.6
3.6
103.6
35.1
12.3
-8.7
68.4
29.6
11.6
-5.8
28.4
25.4
21.5
-18.0
—6.4
-12.7
-39.2
3.4
4.0
4.2
3.0
6.7
3.5
2.7
16.5
44.9
2.6
-1.7
79.6
44.1
-35.9
10.1
28.8
-41.3
12.8
-0.4
20.2
-7.9
-12.2
1.5
-27.5
-18.6
-10.1
12.3
30
31
32
33
34
35
36
37
38
7.0
1.6
21.7
5.4
3.0
6.0
38.7
-1.5
7.8
1.5
14.5
0.5
30.8
12.4
7.1
12.8
0.6
-5.8
-6.7
-6.2
20.5
17.4
-5.0
6.9
23.1
84.8
-59.3
5.5
197.7
40.7
-4.1
78.1
0.3
-30.2
-27.4
-0.8
7.9
28.0
7.4
94.8
-4.1
-42.6
-23.8
40.8
-40.5
12.3
10.4
-45.1
14.0
-36.7
-3.7
-45.0
276.2
35.9
27.7
60.4
36.6
326.6
127.9
32.1
-6.3
28.3
-12.2
1
1. National defense consumption expenditures are defense services produced by government that are valued at their cost of production. Excludes government sales to other sectors and government own-account
investment (construction and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the services of general government fixed assets; the use of depreciation assumes a zero net return on
these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related expenditures for goods and services and is classified as investment in structures and in
software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed assets; inventory investment is included in government consumption expenditures.
2008
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -3 1
Table 3.11.3. Real National Defense Consumption Expenditures
and Gross Investment by Type, Quantity Indexes
Table 3.11.4. Price Indexes for National Defense Consumption
Expenditures and Gross Investment by Type
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Seasonally adjusted
Line
2006
2007
2007
II
National defense
consumption
expenditures and gross
investment............................
Consumption expenditures 1
Gross output of general
government............................
Value added...........................
Compensation of general
government employees...
Military............................
Civilian...........................
Consumption of general
government fixed capital2
Intermediate goods and
services purchased 3 .........
Durable goods....................
Aircraft...........................
Missiles..........................
Ships..............................
Vehicles..........................
Electronics......................
Other durable goods
Nondurable goods..............
Petroleum products........
Ammunition....................
Other nondurable goods
Services.............................
Research and
development...............
Installation support.........
Weapons support...........
Personnel support..........
Transportation of material
Travel of persons............
Less: Own-account investment4
Sales to other sectors....
Gross investm ent5.........................
Structures.
Equipment and software.............
Aircraft..
Missiles.
Ships....
Vehicles
Electronics and software........
Other equipment.....................
1 132,315 135.596 134.701
III
Line
2008
IV
I
138.002 137.694 140.125 142.621
3 129.245 132.615 131.446 135.148 134.289 136.595 137.740
4 107.490 107.989 107.304 108.426 108.747 109.583 110.665
5 107.634 107.247 106.465 107.690 107.873 108.743 109.860
6 109.510 108.650 107.762 109.347 109.072 110,596 111.422
7 104.423 105.015 104.448 104.929 106.078 105.574 107.311
112.518 113.253 114.231
9
10
11
12
13
14
15
16
17
18
19
20
21
165.878
140.057
104.230
151.557
102.704
199.485
232.006
155.322
141.326
131.513
189.747
132.409
174.871
174.466
151.923
108.826
162.779
104.894
268.205
283.075
153.997
145.268
134.493
182.816
142.512
183.437
172.429
147.906
104.552
159.975
99.123
270.687
280.853
148.233
145.260
136.727
168.270
144.735
181.464
180.841
159.259
113.916
164.769
119.156
282.012
303.451
158.594
156.506
149.686
199.261
144.179
188.880
177.813
161.068
121.127
174.092
102.590
296.576
290.827
156.342
132.219
119.399
172.141
133.630
188.019
182.777
165.524
110.668
167.922
105.680
299.234
347.384
168.557
136.110
116.718
196.088
142.592
193.245
184.007
171.966
121.411
169.023
105.217
346.415
380.609
150.796
139.410
124.341
171.644
146.941
193.068
22
23
24
25
26
27
28
29
186.497
116.703
221.396
224.191
139.546
120.418
140.455
147.916
180.920
116.496
247.616
238.770
209.966
131.967
134.069
158.862
182.889
115.767
245.172
233.326
196.342
130.274
134.666
138.761
173.200
120.253
269.408
249.484
235.262
142.822
132.967
191.719
179.790
117.007
258.013
250.721
234.577
124.748
131.345
127.489
177.127
124.562
273.010
263.232
223.197
122.697
126.970
112.586
185.459
122.029
264.249
264.183
205.930
116.545
123.628
115.894
30
31
32
33
34
35
36
37
38
157.208 159.765 160.322 162.446 163.647 166.030 180.174
93.490
165.275
208.769
161.777
126.521
280.616
159.991
156.208
105.467
166.336
196.590
150.912
118.700
338.161
187.839
148.332
93.676
168.845
220.408
149.518
116.607
367.980
184.302
145.703
108.220
168.967
201.495
138.019
116.372
375,050
196.043
148.340
127.851
167.228
175.408
128.943
126.762
329.460
201.794
152.060
110.037
172.794
156.436
127.727
109.180
458.841
217.863
161.658
123.836
186.813
224.825
156.938
117.039
451.455
231.853
156.481
1. National defense consumption expenditures are defense services produced by government that are valued at their cost
of production. Excludes government sales to other sectors and government own-account investment (construction and soft
ware).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related
expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
2007
2007
II
II
2 129.097 132.457 131.394 134.826 134.343 136.773 137.921
8 108.009 111.333 110.956 111.751
2006
National defense
consumption
expenditures and gross
investment...........................
Consumption expenditures 1
Gross output of general
government............................
Value added...........................
Compensation of general
government employees...
Military...........................
Civilian...........................
Consumption of general
government fixed capital2
Intermediate goods and
services purchased 3..........
Durable goods....................
Aircraft...........................
Missiles..........................
Ships..............................
Vehicles..........................
Electronics......................
Other durable goods.......
Nondurable goods..............
Petroleum products...
Ammunition.....................
Other nondurable goods
Services.............................
Research and
development...............
Installation support.........
Weapons support...........
Personnel support..........
Transportation of material
Travel of persons.............
Less: Own-account investment4
Sales to other sectors
Gross investm ent5.........................
Structures
Equipment and software.............
Aircraft
Missiles
Ships...
Vehicles
Electronics and software.........
Other equipment.....................
1 127.381
III
2008
IV
I
II
131.874 131.701 132.232 133.237 134.905 136.967
2 131.213 136.220 136.085 136.573 137.704 139.603 141.872
3 131.190 136.200 136.065 136.552 137.682 139.582 141.847
4 139.545 146.218 146.514 146.472 147.018 149.545 150.754
5 151.433 159.639 160.298 159.797 160.322 163.763 164.975
6 158.102 167.465 168.033 167.824 168.796 172.162 173.811
7 138.549 144.559 145.385 144.342 144.027 147.599 147.987
8 111.114 114.249 113.736 114.709 115.297 115.762 116.945
9
10
11
12
13
14
15
16
17
18
19
20
21
120.944
106.255
107.707
110.015
109.852
118.628
95.427
106.505
149.576
210.625
119.182
111.156
121.147
124.212
106.301
106.086
111.246
108.860
120.803
95.252
108.127
156.573
224.381
122.886
114.008
124.706
123.662
106.313
106.435
110.685
108.959
120.511
95.404
107.850
153.172
215.966
122.287
113.677
124.286
124.664
105.956
105.339
111.048
107.944
120.059
95.009
108.362
156.904
225.013
122.636
114.297
125.300
126.338
106.067
104.766
111.487
109.107
121.644
94.797
109.049
172.884
266.054
125.172
115.504
126.045
127.603
106.142
104.673
111.892
109.075
121.599
94.889
109.213
180.365
286.283
126.868
115.813
127.053
130.834
106.740
104.989
112.514
110.131
121.873
95.022
110.818
209.218
366.222
130.288
117.461
128.757
22
23
24
25
26
27
28
29
120.515
124.112
116.087
119.931
127.499
129.071
132.160
126.570
123.754
128.472
118.471
124.281
128.907
131.264
137.008
132.067
123.331
127.997
117.835
123.968
128.208
131.448
137.244
131.732
124.173
129.345
118.881
124.727
130.243
132.745
137.669
132.150
125.013
130.111
119.296
125.543
131.067
133.180
137.219
133.879
126.567
131.279
120.145
125.671
132.695
137.492
139.726
135.565
127.725
133.163
120.858
126.466
140.968
146.285
141.220
137.537
30
31
32
33
34
35
36
37
38
103.657 105.255 104.874 105.625 105.920 106.296 107.217
136.094
101.047
83.937
103.750
128.660
97.210
88.665
107.877
143.122
102.270
83.714
105.554
134.873
101.514
87.256
109.422
142.737
101.892
82.542
104.338
135.567
99.591
87.743
109.096
143.852
102.616
84.300
105.491
135.993
102.265
86.862
109.840
144.374
102.891
85.813
107.270
135.870
102.260
86.228
110.071
145.342
103.220
86.308
106.547
138.880
103.023
85.567
110.308
145.282
104.211
86.313
106.596
145.704
102.781
85.434
111.671
1. National defense consumption expenditures are defense services produced by government that are valued at their cost
of production. Excludes government sales to other sectors and government own-account investment (construction and soft
ware).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and related
expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists ot general government and government enterprise expenditures for fixed assets;
inventory investment is included in government consumption expenditures.
National Data
D -3 2
N ovem ber
2008
Table 3.11.5. National Defense Consumption Expenditures
and Gross Investment by Type
Table 3.11.6. Real National Defense Consumption Expenditures
and Gross Investment by Type, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
National defense
consumption expenditures
and gross investm ent........
Consumption expenditures 1........
Gross output of general
government.............................
Value added............................
Compensation of general
government employees....
Military.............................
Civilian.............................
Consumption of general
government fixed capital2
Intermediate goods and
services purchased 3..........
Durable goods.....................
Missiles...........................
Ships..............................
Vehicles...........................
Electronics.......................
Other durable goods........
Nondurable goods...............
Petroleum products.........
Ammunition.....................
Other nondurable goods...
Services..............................
Research and
development................
Installation support..........
Weapons support............
Personnel support...........
Transportation of material
Travel of persons.............
Less: Own-account investment4
Sales to other sectors.....
Gross investm ent5..........................
Structures....................................
Equipment and software..............
Aircraft....................................
Missiles.
Ships....
Vehicles
Electronics and software.........
Other equipment......................
III
Line
2008
IV
I
2
662.2
580.1
656.8
574.8
675.6
591.9
679.3
594.7
699.9
613.8
723.3
629.0
3
4
550.3
298.8
586.3
314.5
580.4
313.1
598.9
316.3
600.0
318.4
618.8
326.4
634.1
332.3
5
6
7
226.5
154.8
71.6
237.9
162.7
75.2
237.1
161.9
75.2
239.1
164.1
75.0
240.3
164.6
75.7
247.4
170.3
77.2
251.8
173.2
78.6
8
72.3
76.6
76.0
77.2
78.1
79.0
80.5
9
10
11
12
13
14
15
16
17
18
19
20
21
251.6
33.1
11.0
4.1
1.5
1.8
6.5
8.2
22.0
11.2
4.1
6.7
196.4
271.8
36.0
11.3
4.4
1.5
2.5
7.9
8.3
23.7
12.2
4.1
7.4
212.1
267.3
35.0
10.9
4.3
1.4
2.5
7.8
7.9
23.2
12.0
3.7
7.5
209.1
282.6
37.6
11.8
4.5
1.7
2.6
8.4
8.5
25.7
13.7
4.4
7.5
219.4
281.6
38.0
12.5
4.8
1.5
2.8
8.1
8.5
23.9
13.0
3.9
7.0
219.7
292.4
39.1
11.4
4.6
1.5
2.8
9.6
9.2
25.7
13.6
4.5
7.5
227.6
301.8
40.9
12.5
4.7
1.5
3.3
10.6
8.3
30.5
18.6
4.1
7.9
230.4
22
23
24
25
26
27
28
29
59.0
36.1
24.6
61.7
7.6
7.3
2.1
3.6
58.8
37.3
28.1
68.1
11.6
8.1
2.1
4.1
59.3
36.9
27.7
66.4
10.8
8.0
2.1
3.6
56.5
38.8
30.7
71.4
13.1
8.9
2.1
4.9
59.1
37.9
29.5
72.2
13.2
7.8
2.0
3.3
58.9
40.7
31.4
75.9
12.7
7.9
2.0
3.0
62.2
40.5
30.6
76.6
12.5
8.0
2.0
3.1
30
31
32
33
34
35
36
37
38
79.5
82.1
82.1
83.7
84.6
86.1
94.3
6.3
73.2
13.6
4.5
10.7
5.0
14.3
25.1
7.5
74.6
12.8
4.3
10.5
6.3
16.6
24.1
6.6
75.4
14.1
4.2
10.4
6.7
16.4
23.6
7.7
76.0
13.2
3.9
10.4
7.0
17.2
24.2
9.2
75.4
11.7
3.7
11.3
6.2
17.6
24.9
7.9
78.2
10.5
3.7
10.0
8.7
18.9
26.5
8.9
85.4
15.1
4.5
11.2
8.5
20.0
26.0
cost of production. Excludes government sales to other sectors and government own-account investment (construction
and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and
related expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
2007
2007
II
624.1
544.6
1
2006
II
National defense
consumption
expenditures and gross
investment...........................
Consumption expenditures 1...
Gross output of general
government............................
Value added...........................
Compensation of general
government employees...
Military............................
Civilian...........................
Consumption of general
government fixed capital2
Intermediate goods and
services purchased 3..........
Durable goods....................
Aircraft............................
Missiles...........................
Ships..............................
Vehicles..........................
Electronics......................
Other durable goods.......
Nondurable goods..............
Petroleum products.........
Ammunition.....................
Other nondurable goods
Services.............................
Research and
development...............
Installation support.........
Weapons support...........
Personnel support..........
Transportation of material
Travel of persons.............
Less: Own-account investment4
Sales to other sectors.....
Gross investm ent5.........................
Structures..................................
Equipment and software.............
Aircraft...................................
Missiles..................................
Ships......................................
Vehicles.................................
Electronics and software.........
III
2008
IV
I
II
2
490.0
415.0
502.1
425.8
498.8
422.4
511.0
433.5
509.9
431.9
518.9
439.7
528.1
443.4
3
4
419.5
214.1
430.4
215.1
426.6
213.7
438.7
216.0
435.9
216.6
443.4
218.3
447.1
220.4
5
6
7
149.6
97.9
51.7
149.0
97.2
52.0
147.9
96.4
51.7
149.6
97.8
52.0
149.9
97.5
52.5
151.1
98.9
52.3
152.6
99.6
53.1
8
65.1
67.1
66.8
67.3
67.8
68.2
68.8
9
10
11
12
13
14
15
16
17
18
19
20
21
208.0
31.2
10.2
3.7
1.4
1.5
6.8
7.7
14.7
5.3
3.4
6.0
162.1
218.8
33.8
10.7
4.0
1.4
2.1
8.3
7.7
15.1
5.5
3.3
6.5
170.1
216.2
32.9
10.3
3.9
1.3
2.1
8.2
7.4
15.1
5.5
3.1
6.6
168.2
226.8
35.5
11.2
4.0
1.6
2.2
8.9
7.9
16.3
6.1
3.6
6.6
175.1
223.0
35.9
11.9
4.3
1.4
2.3
8.5
7.8
13.8
4.8
3.1
6.1
174.3
229.2
36.9
10.9
4.1
1.4
2.3
10.1
8.4
14.2
4.7
3.6
6.5
179.2
230.8
38.3
11.9
4.1
1.4
2.7
11.1
7.5
14.5
5.0
3.1
6.7
179.0
22
23
24
25
26
27
28
29
49.0
29.1
21.2
51.5
6.0
5.6
1.6
2.9
47.5
29.0
23.7
54.8
9.0
6.2
1.5
3.1
48.0
28.9
23.5
53.5
8.4
6.1
1.5
2.7
45.5
30.0
25.8
57.3
10.1
6.7
1.5
3.7
47.2
29.2
24.7
57.5
10.1
5.9
1.5
2.5
46.5
31.0
26.2
60.4
9.6
5.8
1.4
2.2
48.7
30.4
25.3
60.6
8.9
5.5
1.4
2.3
30
31
32
33
34
35
36
37
38
39
76.7
78.0
78.3
79.3
79.9
81.0
87.9
4.6
72.5
16.2
4.4
8.3
5.1
16.2
23.2
-6.6
5.2
72.9
15.2
4.1
7.8
6.2
19.0
22.1
-8.9
4.7
74.0
17.1
4.0
7.7
6.7
18.6
21.7
-9.2
5.4
74.1
15.6
3.7
7.7
6.9
19.8
22.1
-9.6
6.4
73.3
13.6
3.5
8.3
6.0
20.4
22.6
-9.5
5.5
75.8
12.1
3.4
7.2
8.4
22.0
24.0
-11.0
6.2
81.9
17.4
4.2
7.7
8.3
23.4
23.3
-13.1
1
1. National defense consumption expenditures are defense services produced by government that are valued at their
cost of production. Excludes government sales to other sectors and government own-account investment (construction
and software).
2. Consumption of fixed capital, or depreciation, is included in government gross output as a partial measure of the
services of general government fixed assets; the use of depreciation assumes a zero net return on these assets.
3. Includes general government intermediate inputs for goods and services sold to other sectors and for own-account
investment.
4. Own-account investment is measured in current dollars by compensation of general government employees and
related expenditures for goods and services and is classified as investment in structures and in software.
5. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
N o te . Chained (2 0 0 0 ) dollar series are calculated as the product of the chain-type quantity index and the 2 0 0 0 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is
the difference between the first line and the sum of the most detailed lines.
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -3 3
4. Foreign Transactions
Table 4.1. Foreign Transactions in the National Income and Product Accounts
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Current receipts from the rest of the w orld.....................................................................................
Exports of goods and services....................................................................................................................
III
2008
IV
I
II
2,206.1
1,480.8
2,524.1
1,662.4
2,467.3
1,614.4
2,613.4
1,714.9
2,667.1
1,759.7
2,664.0
1,820.8
2,746.0
1,923.2
1,032.1
718.2
313.9
448.7
1,149.2
788.7
360.5
513.2
1,116.8
768.1
348.7
497.6
1,181.2
807.6
373.6
533.8
1,213.7
826.4
387.3
546.0
1,256.9
829.2
427.7
563.9
1,343.7
866.8
476.9
579.5
7
8
9
10
11
12
725.4
861.7
852.8
898.5
907.4
843.2
822.8
2.9
722.5
283.6
175.4
263.5
3.0
858.8
349.6
213.2
296.0
2.9
849.9
355.2
200.8
293.9
3.0
895.5
367.0
227.5
301.0
3.0
904.3
351.3
231.3
321.8
3.0
840.2
283.4
292.0
264.8
3.0
819.8
254.0
271.1
294.6
13
2,977.7
2,238.1
3,242.7
2,370.2
3,231.0
2,337.5
3,295.4
2,397.5
3,318.1
2,456.5
3,357.0
2,526.5
3,468.6
2,641.4
1,882.7
1,127.6
755.1
355.4
1,985.2
1,172.5
812.7
385.1
1,957.1
1,161.1
796.0
380.5
2,005.4
1,189.5
815.8
392.1
2,060.9
1,181.9
878.9
395.6
2,118.0
1,173.2
944.8
408.5
2,225.5
1,210.6
1,014.9
415.9
647.1
759.3
793.2
786.3
742.0
705.1
708.9
9.5
637.6
466.2
102.2
69.2
10.0
749.3
584.8
95.6
68.9
10.0
783.2
591.3
83.4
108.5
10.1
776.2
604.2
92.1
79.9
10.3
731.7
599.9
121.5
10.3
10.2
694.8
536.5
114.4
43.9
10.2
698.7
506.5
106.3
86.0
25
26
27
28
92.5
113.2
100.3
111.7
119.6
125.4
118.2
51.1
19.6
21.8
56.3
25.9
31.0
56.0
16.3
27.9
56.3
22.1
33.2
57.3
28.6
33.8
57.9
32.4
35.1
62.7
21.5
34.0
Balance on current account, NIPAs..................................................................................................
Addenda:
29
-771.6
-718.6
-763.8
-682.0
-651.0
-693.0
-722.6
Net lending or net borrowing (-), NIPAs..........................................................................................
Balance on current account, NIPAs........
Less: Capital account transactions (net)2...................................................................................
30
31
32
-775.5
-771.6
3.9
-720.4
-718.6
1.8
-764.2
-763.8
0.4
-684.5
-682.0
2.5
-653.3
-651.0
2.3
-695.4
-693.0
2.4
-725.2
-722.6
2.6
Goods1...........................................................................................................................................
Durable....
Nondurable.................................................................................................................................
Services 1....
Income receipts
Wage and salary receipts...............................................................................................................
Income receipts on assets..............................................................................................................
Interest................
Dividends............
Reinvested earnings on U.S. direct investment abroad...............................................................
Current payments to the rest of the world.......................................................................................
Imports of goods and services....................................................................................................................
Goods1..........................................................................................................................................
Durable......................................................................................................................................
Nondurable....................
Services 1..........................
Income payments...................
Wage and salary payments..
Income payments on assets
Interest...........................
Dividends....................................................................................................................................
Reinvested earnings on foreign direct investment in the United States.......................................
Current taxes and transfer payments to the rest of the world (net)...................................................
From persons (net)..........................................................................................................................
From government (net)......
From business (net)...........
1
2
3
4
5
6
14
15
16
17
18
19
20
21
22
23
24
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the federal government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassi
fied from goods to services.
2. Consists of capital transfers and the acquisition and disposal of nonproduced nonfinancial assets.
National Data
D -3 4
Table 4.2.1. Percent Change From Preceding Period in Real Exports and in
Real Imports of Goods and Services by Type of Product
N ovem ber
2008
Table 4.2.2. Contributions to Percent Change in Real Exports and in
Real Imports of Goods and Services by Type of Product
[Percent]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
-ine
2006
2007
2007
II
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......................................
1
2
3
4
5
6
I
II
8.4
7.5
8.8
6.9
23.0
21.8
4.4
5.1
5.1
4.5
12.3
16.3
8.0
8.8
18.6
43.7
-12.0
14.3
8.7
7.5
9.6
6.3
5.5
5.6
5.4
7.1
3.8
9.2
16.3
19.6
14.3
7.4
11.1
5.3
11.2
-5.4
21.7
29.0
41.9
22.5
7
13.3
8.0
5.4
25.3
10.0
-3.6
11.2
8
18.8
11.4
-6.5
61.6
17.3
-24.1
-3.2
9
10
9.4
12.7
3.5
7.9
-4.0
10.4
14.4
18.5
-9.2
11.0
0.4
2.7
57.4
10.3
11
7.4
11.9
17.7
27.8
-2.8
-11.5
4.3
12
13
14
15
10.5
13.2
7.4
2.4
10.9
15.4
5.4
-5.4
4.4
12.3
-4.8
-14.3
16.8
20.1
12.7
-7.1
0.3
13.4
-15.1
18.9
14.9
14.6
15.4
37.1
15.3
12.7
18.9
28.8
Exports of services 1................
Transfers under U.S. military
agency sales contracts........
Travel.......................................
Passenger fares.......................
Other transportation................
Royalties and license fees.......
Other private services.............
Other.......................................
16
7.2
10.5
13.3
25.9
2.7
6.4
3.8
17
18
19
20
21
22
23
-12.9
0.5
4,6
5.3
8.5
13.9
-0.5
-12.3
8.9
7.6
7.4
11.4
14.5
4.9
-46.4
17.7
-0.9
4.3
15.4
22.1
3.1
-22.3
34.6
32.4
1.4
46.2
26.7
4.0
-31.2
14.1
27.0
8.4
-5.7
-0.1
1.8
77.3
-0.4
-10.5
8.2
4.7
10.0
-6.4
-68.4
12.5
11.8
-6.8
8.6
7.3
-3.1
Imports of goods and
services..........................
24
25
26
6.0
6.0
2.2
1.7
-3.7
-4.0
3.0
2.4
-2.3
-2.6
-0.8
-2.0
-7.3
-7.1
6.1
1.3
-2.2
4.7
-7.7
-5.2
4.7
27
28
29
30
4.3
9.7
-1.5
-1.9
-3.8
-9.7
3.7
-2.0
8.0
-5.0
25.7
-22.3
5.6
-5.5
19.9
-13.5
-20.3
-15.0
-25.9
16.5
-17.3
-10.4
-24.2
17.6
-0.4
-11.8
13.2
-38.1
31
11.2
5.9
4.8
6.1
1.6
1.1
8.9
32
6.1
15.3
17.3
-5.3
-3.3
17.0
3.4
33
34
17.3
9.6
9.8
3.6
-6.5
7.8
-0.2
9.8
9.7
-0.5
6.3
-2.2
26.0
4.3
35
6.8
-0.1
-4.8
17.0
-11.0
-7.9
-12.7
36
37
38
39
8.0
8.2
7.8
1.9
Imports of services 1.................
Direct defense expenditures....
Travel......................................
Passenger fares.......................
Other transportation................
Royalties and license fees.......
Other private services.............
Other......................................
40
41
42
43
44
45
46
47
6.0
4.4
-3.2
0.6
-0.3
5.3
-6.4
18.5
-0.8
-4.1
-1.7
-2.7
4.4
2.6
12.4
1.6
48
49
50
11.5
6.5
8.5
8.5
5.4
7.1
51
52
53
54
10.1
8.9
1.7
7.5
7.6
2.2
1.1
2.5
Addenda:
Exports of durable goods........
Exports of nondurable goods...
Exports of agricultural goods2
Exports of nonagricultural
goods..................................
Imports of durable goods.........
Imports of nondurable goods....
Imports of nonpetroleum goods
5.8
7.0
4.4
-0.4
-3.0
-1.3
-5.1
-16.7
-3.1
7.0
-14.2
24.5
6.4
6.5
6.2
-34.3
-6.5
-15.2
5.3
-0.1
8.2
19.7
-4.4
23.2
-2.0
6.3
-0.9
5.5
-8.0
-10.1
-20.7
12.7
11.9
-24.0
8.0
-9.4
-7.7
-2.2
14.8
4.1
-8.1
17.2
3.5
1.0
11.9
-8.4
-7.4
-13.4
-0.8
1.8
-12.3
8.5
32.9
4.2
11.4
3.9
-3.6
-21.8
-11.2
-21.0
-12.3
5.2
0.5
-7.7
7.0
6.6
26.9
23.2
18.6
47.2
8.7
-2.1
-18.6
-2.2
19.7
11.8
15.1
18.6
10.5
5.4
-1.0
-8.3
-0.2
19.8
7.6
-4.8
5.8
7.7
-4.3
-0.1
-6.3
3.8
-6.3
4.0
-6.4
17.0
3.7
-18.7
4.0
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the federal government,
are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to
services.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable
nonautomotive consumer goods.
2007
2007
II
9.1
9.9
Imports of goods 1....................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products........................
Durable goods.....................
Nondurable goods...............
Petroleum and products..........
Capital goods, except
automotive..........................
Civilian aircraft, engines, and
parts................................
Computers, peripherals, and
parts................................
Other...................................
Automotive vehicles, engines,
and parts.............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.......................................
2006
2008
IV
III
Line
Percent change at annual rate:
Exports of goods and
services............................
Percentage points at annual
rates:
Exports of goods 1 ......................
III
2008
IV
1
9.1
8.4
8.8
23.0
2
3
6.88
5.26
4.78
0.36
0.42
0.82
4
5
6
1.33
0.62
0.71
1.01
0.39
0.62
7
3.64
8
0.87
9
10
I
II
4.4
5.1
12.3
15.08
3.53
3.13
11.11
2.01
-0.69
0.77
0.52
1.29
0.26
1.03
3.05
1.36
1.69
1.33
0.72
0.61
2.02
-0.37
2.39
5.34
2.57
2.77
2.21
1.47
6.69
2.59
-0.95
2.85
0.58
-0.34
2.75
0.88
-1.45
-0.16
0.31
2.46
0.11
1.53
-0.12
1.93
0.41
3.54
-0.25
1.96
0.01
0.49
1.15
1.85
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.......................................
11
0.55
0.85
1.25
2.00
-0.21
-0.84
0.29
12
13
14
15
0.92
0.62
0.30
0.08
0.94
0.73
0.21
-0.18
0.40
0.59
-0.19
-0.45
1.52
1.01
0.51
-0.20
0.02
0.63
-0.60
0.48
1.21
0.69
0.52
0.92
1.29
0.63
0.66
0.82
Exports of services 1..................
16
2.21
3.19
4.02
7.96
0.86
1.97
1.19
Transfers under U.S. military
agency sales contracts........
Travel.......................................
Passenger fares......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other.......................................
17
18
19
20
21
22
23
-0.18
0.03
0.07
0.17
0.42
1.70
-0.01
-0.13
0.52
0.12
0.23
0.56
1.85
0.06
-0.61
0.96
-0.01
0.14
0.73
2.78
0.04
-0.21
1.92
0.47
0.05
2.11
3.57
0.05
-0.29
0.79
0.38
0.25
-0.29
-0.01
0.02
0.45
-0.03
-0.18
0.26
0.23
1.31
-0.07
-0.79
0.71
0.18
-0.23
0.41
0.95
-0.04
24
6.0
2.2
-3.7
3.0
-2.3
-0.8
-7.3
25
26
5.01
1.46
-3.34
2.01
-2.17
-1.65
-5.97
0.20
0.04
-0.08
0.16
-0.27
-0.18
0.16
27
28
29
30
0.57
0.66
-0.10
-0.26
-0.50
-0.71
0.21
-0.28
1.01
-0.33
1.34
-3.22
0.72
-0.38
1.10
-1.98
-2.76
-1.04
-1.72
2.28
-2.25
-0.67
-1.58
2.74
-0.03
-0.76
0.73
-8.59
Percent change at annual rate:
Imports of goods and
services............................
Percentage points at annual
rates:
Imports of goods 1.......................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products........................
Durable goods.....................
Nondurable goods...............
Petroleum and products...........
Capital goods, except
automotive...........................
Civilian aircraft, engines, and
parts...............................
Computers, peripherals, and
parts...............................
Other...................................
Automotive vehicles, engines,
and parts..............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.......................................
Imports of services 1..................
Direct defense expenditures....
Travel.......................................
Passenger fares.......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other.......................................
31
2.04
1.08
0.90
1.12
0.29
0.21
1.52
32
0.08
0.20
0.23
-0.08
-0.05
0.23
0.05
33
34
0.75
1.21
0.42
0.46
-0.31
0.97
-0.01
1.21
0.40
-0.06
0.26
-0.28
0.96
0.52
35
0.78
-0.01
-0.54
1.73
-1.26
-0.85
-1.31
36
37
38
39
1.60
0.89
0.71
0.08
1.15
0.76
0.39
-0.02
-0.62
-0.14
-0.49
-0.78
-0.64
0.75
-1.39
0.89
1.22
0.70
0.52
-1.66
-1.30
-1.75
0.45
0.00
1.49
1.87
-0.38
0.78
40
41
42
43
44
45
46
47
0.95
0.71
-0.33
1.01
-0.14
0.86
-1.29
-0.05
0.02
0.00
0.16
-0.08
0.91
0.00
-0.06
-0.05
-0.03
0.13
0.03
0.69
0.01
-0.15
-0.75
0.14
0.32
-0.30
0.46
-0.05
-0.11
-0.07
0.17
0.12
-0.09
0.98
0.02
0.01
0.36
-0.11
-0.22
-0.14
-0.05
0.01
-0.18
0.26
0.35
0.12
0.11
0.23
-0.02
-0.33
-0.36
-0.29
-0.36
0.05
0.03
-0.03
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the federal government,
are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -3 5
Table 4.2.3. Real Exports and Imports of Goods and Services
by Type of Product, Quantity Indexes
Table 4.2.4. Price Indexes for Exports and Imports of Goods and Services
by Type of Product
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
2007
II
Exports of goods and
services.............................
Exports of goods 1......................
Foods, feeds, and beverages....
Industrial supplies and
materials..............................
Durable goods.....................
Nondurable goods...............
Capital goods, except
automotive...........................
Civilian aircraft, engines, and
parts................................
Computers, peripherals, and
parts................................
Other..................................
Automotive vehicles, engines,
and parts............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other......................................
Exports of services 1 ..................
Transfers under U.S. military
agency sales contracts........
Travel......................................
Passenger fares.......................
Other transportation................
Royalties and license fees.......
Other private services.............
Other......................................
Imports of goods and
services............................
Imports of goods 1......................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products.......................
Durable goods.....................
Nondurable goods...............
Petroleum and products..........
Capital goods, except
automotive..........................
Civilian aircraft, engines, and
parts...............................
Computers, peripherals, and
parts...............................
Other..................................
Automotive vehicles, engines,
and parts............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other......................................
Imports of services 1...................
Direct defense expenditures....
Travel......................................
Passenger fares.......................
Other transportation................
Royalties and license fees.......
Other private services.............
Other......................................
III
Seasonally adjusted
2008
IV
I
Line
1 119.937 130.068 126.992 133.747 135.189 136.880 140.908
12 140.127 155.341 152.700 158.748 158.849 164.473 170.414
13 148.146 170.904 166.795 174.598 180.181 186.423 192.062
14 131.414 138.535 137.441 141.611 135.949 140.907 147.140
15 96.059 90.843 89.811 88.163 92.062 99.614 106.123
16 123.826 136.868 133.690 141.620 142.570 144.792 146.131
Exports of services 1..................
4 116.095 122.476 120.120 124.728 126.975 130.383 138.941
5 111.896 118.170 115.012 120.266 123.461 121.763 132.886
6 118.774 125.223 123.380 127.573 129.234 135.750 142.815
130,727 133.894 132.678 136.258
8 123.828 137.935 127.782 144.072 149.937 139.942 138.797
9 111.415 115.369 113.824 117.726 114.931 115.052 128.863
10 118.331 127.650 124.846 130.258 133.690 134.568 137.895
17
18
19
20
21
22
23
118.002
91.579
76.961
116.982
143.172
155.451
102.595
142.112 139.367 148.178 147.116 142.695 144.199
103.511
99.730
82.805
125.616
159.545
178.017
107.650
104.490
96.114
78.609
125.088
153.846
174.827
107.200
24 130.815 133.654 133.041
98.096
103.534
84.315
125.524
169.177
185.491
108.263
89.332
106.994
89.499
128.079
166.709
185.436
108.749
103.088
106.880
87.045
130.621
168.639
189.916
106.953
77.285
110.083
89.501
128.335
172.160
193.273
106.118
134.033 133.254 132.991 130.509
25 132.613 134.921 134.401 135.197 134.315 133.654 131.212
26 137.943 139.687 139.386 140.990 138.203 136.368 137.957
27
28
29
30
122.153 127.581 126.515 128.460 128.185 129.913 127.217
Imports of services 1...................
126.414
129.926
123.414
111.790
128.136
128.092
129.144
107.819
121.051
122.999
119.819
112.011
115.429
119.673
111.806
116.638
115.320
115.967
115.321
103.467
91.980 106.094 108.106 106.631
105.750 109.995 110.914
33 182.230 200.083 198.137 198.043 202.660 205.800 218.025
34 124.561 129.089 128.210 131.241 131.086 130.354 131.724
35 126.012 125.864 123.932 128.889 125.174 122.624 118.526
36
37
38
39
40
41
42
43
44
45
46
47
158.553
168.057
148.420
107.322
143.086
85.902
89.388
123.176
123.900
172.108
108.544
167.794
179.857
154.939
106.881
137.224
84.472
86.966
128.657
127.134
193.484
110.284
167.489
177.496
156.807
105.461
137.576
82.880
86.565
129.525
127.311
190.631
109.015
166.163
180.504
150.899
111.402
134.841
82.413
89.609
130.838
124.638
198.350
109.949
168.747
183.369
153.183
100.285
135.192
84.766
87.672
128.341
120.221
197.937
110.443
165.927
175.981
155.176
100.254
130.835
86.503
94.132
129.672
123.500
199.847
109.441
123.016
83.980
88.756
125.470
125.079
200.087
107.269
Addenda:
Exports of durable goods........
Exports of nondurable goods...
Exports of agricultural goods 2
Exports of nonagricultural
goods..................................
Imports of durable goods.........
Imports of nondurable goods....
Imports of nonpetroleum goods
Imports of goods and
services............................
Imports of goods 1.......................
169.218
184.064
153.435
105.627
124.901
128.155
122.231
112.670
31 134.054 141.960 141.177 143.292 143.846 144.252 147.344
32
Transfers under U.S. military
agency sales contracts........
Travel.......................................
Passenger fares......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other.......................................
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.......................................
129.889
141.936
117.849
114.958
2007
II
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.......................................
11 127.051
2007
II
2 118.407 127.335 124.300 130.571 132.219 133.690 138.826
3 109.575 119.271 115.974 126.977 122.992 127.180 129.849
7 118.027 127.527 123.551
2006
Direct defense expenditures....
Travel.......................................
Passenger fares.......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other.......................................
1 112.618 116.586 116.011
III
2008
IV
I
II
117.018 118.794 121.397 124.560
2 111.131 115.062 114.591 115.382 117.085 119.916 123.456
3 125.753 147.582 141.966 148.198 161.062 180.050 193.041
4 138.182 148.503 148.172 150.077 153.764 160.153 170.957
5 142.356 151.498 153.413 151.688 152.563 157.844 163.036
6 135.654 146.653 145.019 149.020 154.350 161.369 175.337
7
98.488
8 126.231
9
10
76.890
97.473
98.278
98.219
98.065
98.076
131.606 130.789 132.100 133.591
71.080
97.268
71.049
97.363
70.270
97.037
69.745
96.840
98.410
98.790
135.724 136.905
67.654
97.263
65.881
97.910
11 104.786 105.999 105.892 106.045 106.390 106.744 107.184
12
13
14
15
103.060
102.557
103.630
115.375
105.231
103.620
107.233
120.698
105.114
103.668
106.889
120.108
105.456
103.649
107.716
121.210
106.028
103.992
108.607
123.286
106.761
104.782
109.256
126.673
107.639
105.162
110.847
130.764
16 116.156 120.211
119.392 120.905 122.855 124.932 127.211
17
18
19
20
21
22
23
109.186
116.943
147.487
135.668
119.476
114.159
124.655
107.432
113.595
138.404
132.867
116.633
111.248
121.798
109.910
117.687
149.360
137.793
119.775
114.840
126.772
110.418
118.347
149.751
139.936
119.991
115.246
129.132
111.277
120.227
156.826
144.582
121.085
116.587
131.480
111.868
121.940
159.669
153.404
122.169
117.291
142.119
112.553
123.610
161.357
166.021
123.461
117.885
151.672
24 115.932 120.168 119.050 121.200 124.907 128.722 137.136
25 114.171 118.326 117.091 119.274 123.378 127.427 136.387
26 118.150 127.179 125.380 128.386 131.729 136.193 141.977
27
28
29
30
129.252
128.882
129.072
218.894
31
89.910
32 117.001
136.387
138.711
133.004
244.422
137.275
139.776
133.703
232.612
135.648
140.979
129.028
256.269
139.737
140.283
138.118
294.251
149.143
144.953
152.649
320.072
163.340
160.575
165.193
397.641
90.226
89.755
90.435
90.766
90.777
91.795
122.958 121.097 124.449 125.945 127.586 130.173
33 61.958 58.552 58.385 58.342 57.979 56.434 55.893
34 100.325 102.305 101.807 102.635 103.256 104.058 105.850
35 103.970 105.022 104.635 104.945 106.030 107.118 107.641
36
37
38
39
40
41
42
43
44
45
46
47
99.779 101.130 100.753 101.301 101.768 102.875 104.003
98.171
98.668 99.344 100.524
97.030 98.070 97.721
102.892 104.641 104.229 104.904 105.327 106.995 108.050
110.238 113.066 112.714 113.147 114.437 116.944 118.809
125.257 129.928 129.478 131.423 132.874 135.377 140.740
160.975
129.724
126.745
127.892
116.537
113.652
122.246
177.523
139.353
134.939
125.798
119.644
116.559
127.079
174.350
140.592
132.895
124.998
119.434
116.173
127.036
178.906
144.374
136.544
126.360
119.949
117.035
129.132
190.629
142.452
138.476
129.000
121.043
117.929
129.518
199.134
145.244
141.005
133.055
122.127
118.934
131.890
213.891
150.763
153.358
142.827
123.418
120.466
135.544
Addenda:
48 119.980 130.213 126.649 133.434 136.241 135.479 140.328
49 116.304 122.542 120.553 125.813 125.159 130.919 136.624
50 110.008 117.787 115.193 126.889 120.532 123.936 127.064
51
52
53
54
119.268
137.423
126.624
135.800
128.309
140.459
127.961
139.177
125.219
139.466
128.061
138.744
130.994
142.050
126.487
140.707
133.444
140.490
126.448
138.434
134.709
138.219
127.688
136.179
140.091
139.473
121.248
137.510
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the federal government,
are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable
nonautomotive consumer goods.
Exports of durable goods.........
Exports of nondurable goods....
Exports of agricultural goods 2
Exports of nonagricultural
goods..................................
Imports of durable goods.........
Imports of nondurable goods....
Imports of nonpetroleum goods
48 105.152 106.408 106.540 106.322 106.560 107.529 108.520
49 125.484 136.746 134.583 138.173 143.992 151.990 162.407
50 125.453 148.110 141.786 149.362 161.946 180.483 193.981
51 109.939 112.617 112.548 112.871
52 99.983 101.715 101.444 102.039
53 141.041 150.215 146.899 152.422
54 103.594 105.809 105.520 105.867
113.828
102.510
164.257
107.053
115.619
103.430
174.843
109.126
118.478
105.766
197.803
112.067
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the federal government, are
included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable
nonautomotive consumer goods.
National Data
D -3 6
N ovem ber
2008
Table 4.2.5. Exports and Imports of Goods and Services
by Type of Product
Table 4.2.6. Real Exports and Imports of Goods and Services
by Type of Product, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
Exports of goods and
services..........................
1
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
Other............
Exports of services 1................
Transfers under U.S. military
agency sales contracts........
Travel.......................................
Passenger fares.......................
Other transportation................
Royalties and license fees.......
Other private services.............
Other.......................................
24
Imports of goods and
services..........................
Imports of goods 1....................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products........................
Durable goods.....................
Nondurable goods...............
Petroleum and products..........
Capital goods, except
automotive...........................
Civilian aircraft, engines, and
parts................................
Computers, peripherals, and
parts................................
Other...................................
Automotive vehicles, engines,
and parts............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other......................................
Imports of services 1.................
Direct defense expenditures....
Travel......................................
Passenger fares.......................
Other transportation................
Royalties and license fees.......
Other private services.............
Other......................................
Addenda:
Exports of durable goods........
Exports of nondurable goods...
Exports of agricultural goods 2
Exports of nonagricultural
goods..................................
Imports of durable goods.........
Imports of nondurable goods....
Imports of nonpetroleum goods
2
3
2006
1,480.8
1,032.1
2007
1,662.4
1,149.2
2007
Seasonally adjusted at annual rates
2008
Line
II
III
IV
I
II
1,614.4
1,116.8
1,714.9
1,181.2
1,759.7
1,213.7
1,820.8
1,256.9
1,923.2
1,343.7
1
2
3
Exports of services 1
Transfers under U.S. military
agency sales contracts........
Travel.......................................
Passenger fares.......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other.......................................
Residual......................................
25
66.0
84.3
78.7
89.9
94.6
109.4
119.7
4
5
6
267.3
101.3
166.0
303.1
113.9
189.2
296.3
112.2
184.1
311.6
116.0
195.6
325.0
119.8
205.2
347.6
122.3
225.4
395.4
137.8
257.6
7
415.0
447.4
433.3
457.7
468.8
466.2
480.6
8
75.2
87.3
80.3
91.5
96.3
91.3
91.3
9
10
47.6
292.2
45.5
314.6
44.9
308.0
45.9
320.3
44.5
328.1
43.2
331.7
47.2
342.1
11
107.0
121.0
118.6
126.3
125.8
122.4
124.2
12
13
14
15
129.1
71.0
58.1
47.8
146.1
82.7
63.4
47.3
143.4
80.7
62.7
46.5
149.6
84.5
65.1
46.1
150.5
87.5
63.0
48.9
156.9
91.2
65.7
54.4
163.9
94.3
69.6
59.8
16
448.7
513.2
497.6
533.8
546.0
563.9
579.5
17
18
19
20
21
22
23
16.3
85.7
22.0
46.3
72.2
189.1
17.1
14.6
96.7
25.6
51.6
82.6
223.5
18.7
14.6
92.6
24.0
50.6
79.5
218.1
18.3
13.9
101.0
26.1
52.3
87.8
233.6
19.1
12.8
106.0
29.0
55.2
87.3
236.2
19.5
14.8
107.4
28.8
59.7
89.1
243.4
20.8
11.2
112.1
29.9
63.5
91.9
249.0
22.0
2,238.1
1,882.7
2,370.2
1,985.2
2,337.5
1,957.1
2,397.5
2,005.4
2,456.5
2,060.9
2,526.5
2,118.0
2,641.4
2,225.5
Imports of goods and
services.........................
74.9
81.7
80.4
83.2
83.7
85.4
90.1
26
27
27
28
29
30
290.1
161.8
128.3
302.4
294.4
157.2
137.1
331.0
299.9
160.7
139.3
312.5
300.4
159.8
140.6
332.1
292.3
152.6
139.7
396.1
297.5
153.4
144.0
448.7
325.5
164.7
160.8
494.5
31
418.3
444.5
439.7
449.7
453.1
454.4
469.3
32
28.4
34.4
34.5
35.0
35.1
37.0
38.1
Imports of goods 1....................
Foods, feeds, and beverages....
Industrial supplies and
materials, except petroleum
and products........................
Durable goods.....................
Nondurable goods...............
Petroleum and products...........
Capital goods, except
automotive..........................
Civilian aircraft, engines, and
parts................................
Computers, peripherals, and
parts 2.............................
Other...................................
Automotive vehicles, engines,
and parts.............................
Consumer goods, except
automotive...........................
Durable goods.....................
Nondurable goods...............
Other.......................................
Imports of services 1.................
Direct defense expenditures....
Travel.......................................
Passenger fares.......................
Other transportation.................
Royalties and license fees.......
Other private services..............
Other.......................................
Residual......................................
25
26
33
34
101.3
288.5
105.2
304.9
103.8
301.3
103.7
311.0
105.5
312.5
104.2
313.1
109.4
321.9
35
256.6
258.9
254.0
264.9
260.0
257.3
249.9
36
37
38
39
446.1
243.9
202.3
94.2
478.5
263.8
214.8
96.2
475.9
259.4
216.5
94.6
474.7
265.0
209.7
100.4
484.3
270.6
213.8
91.4
481.4
261.4
220.0
93.4
496.3
276.7
219.6
99.9
40
41
42
43
44
45
46
47
355.4
385.1
380.5
392.1
395.6
408.5
415.9
31.0
72.1
27.5
65.3
23.8
125.2
10.5
32.8
76.2
28.5
67.1
25.0
144.4
11.1
32.3
75.4
27.9
67.1
25.0
141.7
11.0
32.5
77.0
29.7
68.5
24.6
148.6
11.2
34.8
78.1
29.5
68.6
24.0
149.4
11.3
35.1
81.3
32.2
71.5
24.8
152.1
11.4
35.5
81.9
33.0
74.2
25.4
154.3
11.5
48
49
50
718.2
313.9
72.9
788.7
360.5
92.1
768.1
348.7
86.1
807.6
373.6
99.8
826.4
387.3
102.8
829.2
427.7
117.8
866.8
476.9
129.8
51
52
53
54
959.2
1,127.6
755.1
1,580.2
1,057.1
1,172.5
812.7
1,654.2
1,030.7
1,161.1
796.0
1,644.5
1,081.3
1,189.5
815.8
1,673.3
1,110.9
1,181.9
878.9
1,664.7
1,139.1
1,173.2
944.8
1,669.3
1,213.9
1,210.6
1,014.9
1,731.1
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the federal government,
are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.
2. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable
nonautomotive consumer goods.
Exports of goods and
services..........................
Exports of goods 1....................
Foods, feeds, and beverages....
Industrial supplies and
materials..............................
Durable goods.....................
Nondurable goods...............
Capital goods, except
automotive...........................
Civilian aircraft, engines, and
parts...............................
Computers, peripherals, and
parts 2.............................
Other...................................
Automotive vehicles, engines,
and parts.............................
Consumer goods, except
automotive...........................
Durable goods.
Nondurable goods...............
Other...................
Addenda:
Exports of durable goods.......
Exports of nondurable goods.,
Exports of agricultural goods :
Exports of nonagricultural
goods...
Imports of durable goods.........
Imports of nondurable goods....
Imports of nonpetroleum goods
2006
1,314.8
928.7
2007
1,425.9
998.7
2007
2008
II
III
IV
I
II
1,392.2
974.9
1,466.2
1,024.1
1,482.1
1,037.0
1,500.6
1,048.6
1,544.7
1,088.9
52.5
57.1
55.5
60.8
58.9
60.9
62.2
4
5
6
193.4
71.2
122.3
204.1
75.2
129.0
200.1
73.2
127.1
207.8
76.5
131.4
211.6
78.5
133.1
217.2
77.5
139.8
231.5
84.5
147.1
7
421.4
455.3
441.1
466.7
478.0
473.7
486.4
8
59.6
66.3
61.5
69.3
72.1
67.3
66.7
q
10
299.8
323.4
316.3
330.0
338.7
341.0
349.4
11
102.1
114.2
112.0
119.1
118.2
114.7
115.9
12
13
14
15
125.2
69.2
56.1
41.4
138.8
79.8
59.1
39.2
136.5
77.9
58.7
38.7
141.9
81.5
60.4
38.0
142.0
84.2
58.0
39.7
147.0
87.1
60.1
43.0
152.3
89.7
62.8
45.8
16
386.3
426.9
417.0
441.8
444.7
451.7
455.8
17
18
19
20
21
22
23
24
15.1
75.5
15.9
34.9
61.9
169.9
14.0
-8.5
13.3
82.2
17.1
37.4
69.0
194.6
14.7
-9.8
13.4
79.2
16.3
37.3
66.5
191.1
14.7
-10.4
12.6
85.3
17.4
37.4
73.1
202.8
14.8
-9.6
11.5
88.2
18.5
38.2
72.1
202.7
14.9
-9.2
13.2
88.1
18.0
38.9
72.9
207.6
14.6
-8.0
9.9
90.7
18.5
38.2
74.4
211.3
14.5
-8.5
1,930.5
1,649.0
1,972.4
1,677.7
1,963.4
1,671.2
1,978.0
1,681.1
1,966.5
1,670.2
1,962.6
1,662.0
1,926.0
1,631.6
63.4
64.2
64.1
64.8
63.5
62.7
63.4
28
29
30
31
224.4
125.5
99.4
138.2
215.8
113.3
103.1
135.4
218.4
114.9
104.1
134.4
221.4
113.3
108.9
129.6
209.2
108.8
101.1
134.6
199.5
105.8
94.3
140.2
199.3
102.6
97.3
124.4
32
465.2
492.6
489.9
497.3
499.2
500.6
511.3
33
24.3
28.0
28.5
28.1
27.9
29.0
29.3
34
35
287.6
298.0
296.0
303.0
302.7
301.0
304.1
36
246.8
246.5
242.8
252.5
245.2
240.2
232.2
37
38
39
40
447.1
251.3
196.6
85.4
473.2
269.0
205.2
85.1
472.3
265.4
207.7
83.9
468.6
269.9
199.9
88.7
475.9
274.2
202.9
79.8
467.9
263.2
205.6
79.8
477.2
275.3
203.3
84.1
41
42
43
44
45
46
47
48
49
283.7
296.4
293.9
298.4
297.8
301.8
295.5
19.3
55.6
21.7
51.0
20.4
110.2
8.6
-38.4
18.5
54.7
21.1
53.3
20.9
123.9
8.7
-56.1
18.5
53.6
21.0
53.7
21.0
122.0
8.6
-54.7
18.2
53.3
21.8
54.2
20.5
127.0
8.7
-62.2
18.2
54.8
21.3
53.2
19.8
126.7
8.7
-58.8
17.6
56.0
22.9
53.7
20.3
127.9
8.7
-51.0
16.6
54.3
21.5
52.0
20.6
128.1
8.5
-87.3
50
51
52
683.0
250.2
58.1
741.2
263.6
62,2
720.9
259.3
60.8
759.6
270.6
67.0
775.5
269.2
63.6
771.2
281.6
65.4
798.8
293.9
67.1
53
54
55
56
872.5
1,127.8
535.4
1,525.4
938.6
1,152.7
541.0
1,563.4
916.0
1,144.6
541.4
1,558.5
958.3
1,165.8
534.8
1,580.5
976.2
1,153.0
534.6
1,555.0
985.5
1,134.3
539.9
1,529.7
1,024.8
1,144.6
512.6
1,544.6
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the federal government,
are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.
2. The quantity index for computers can be used to accurately measure the real growth of this component. However,
because computers exhibit rapid changes in prices relative to other prices in the economy, the chained-dollar estimates
should not be used to measure the component's relative importance or its contribution to the growth rate of more aggregate
series; accurate estimates of these contributions are shown in table 4.2.2. and real growth rates are shown in table 4.2.1.
3. Includes parts of foods, feeds, and beverages, of nondurable industrial supplies and materials, and of nondurable
nonautomotive consumer goods.
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
weights of more than one period, the corresponding chained-dollar estimates are usually not additive. For exports and for
imports, the residual line is the difference between the aggregate line and the sum of the most detailed lines.
N ovem ber
2008
D -3 7
S u r v e y o f C u r r e n t B u s in e s s
5. Saving and Investment
Table 5.3.1. Percent Change From Preceding Period
in Real Private Fixed Investment by Type
Table 5.1. Saving and Investment
[Billions of dollars]
[Percent]
Seasonally adjusted at annual rates
Line
Gross saving...........................
Net saving.........................................
Net private saving.......................
Personal saving......................
Undistributed corporate profits
with inventory valuation and
capital consumption
adjustments........................
Undistributed profits...........
Inventory valuation
adjustment......................
Capital consumption
adjustment......................
Wage accruals less
disbursements....................
Net government saving...............
Federal...................................
State and local........................
Consumption of fixed capital.......
Private.......................................
Domestic business.................
Households and institutions....
Government...............................
Federal..................................
State and local........................
Gross domestic investment,
capital account
transactions, and net
lending, NIPAs....................
Gross domestic investment............
Gross private domestic
investment.............................
Gross government investment....
Capital account transactions (net)1
Net lending or net borrowing (-),
NIPAs.........................................
1
2
3
4
2006
2007
2007
Seasonally adjusted at annual rates
2008
II
III
IV
I
II
2,038.5
414.5
1,956.0
235.6
1,987.3
280.3
1,958.9
226.9
1,903.6
145.0
1,773.6
-4.4
1,672.9
-130.2
569.5
70.7
454.5
57.4
455.9
31.1
466.5
46.8
403.6
42.4
378.7
20.6
576.6
296.6
Private fixed investment....
Nonresidential...............................
Structures..................................
Commercial and health care
Manufacturing......................
Power and communication....
Mining exploration, shafts,
and wells..........................
Other structures 1................
5
6
497.5
702.7
403.4
647.3
424.8
667.1
419.7
648.5
361.2
644.5
358.1
515.5
280.0
496.7
7
-39.5
-51.2
-55.3
-31.0
-74.1
-109.4
-154.0
8
-165.7
-192.7
-187.0
-197.8
-209.2
-48.0
-62.7
9
10
11
12
1.3
-155.0
-201.1
46.2
-6.3
-218.9
-229.3
10.4
0.0
-175.7
-211.4
35.8
0.0
-239.5
-244.3
4.7
0.0
-258.6
-236.3
-22.3
0.0
-383.1
-330.7
-52.4
0.0
-706.9
-640.0
-66.9
13
14
15
16
17
18
19
1,623.9
1,720.5
1,707.0
1,731.9
1,758.6
1,778.0
1,803.1
1,356.0
1,085.5
270.5
268.0
105.6
162.3
1,431.1
1,147.0
284.1
289.4
111.8
177.6
1,420.0
1,138.5
281.5
287.0
111.0
176.0
1,440.1
1,154.4
285.7
291.8
112.5
179.3
1,462.3
1,171.4
290.9
296.3
113.9
182.4
1,477.5
1,186.1
291.4
300.5
115.0
185.5
1,497.4
1,205.6
291.8
305.7
116.9
188.8
20
21
1,875.5
1,874.6
1,843.9
1,951.1
1,917.4
1,837.0
1,771.2
2,647.0
2,593.2
2,607.6
2,633.1
2,568.4
2,530.0
2,493.8
22
23
24
2,220.4
426.7
3.9
2,130.4
462.8
1.8
2,147.2
460.4
0.4
2,164.0
469.1
2.5
2,092.3
476.1
2.3
2,056.1
473.9
2.4
2,000.9
492.8
2.6
25
-775.5
-720.4
-764.2
-684.5
-653.3
-695.4
-725.2
Statistical discrepancy.........
Addenda:
26
-163.0
-81.4
-143.4
-7.8
13.9
63.4
98.4
Gross private saving...................
Gross government saving...........
Federal..................................
State and local........................
Net domestic investment............
27
28
29
30
31
1,925.5
113.0
-95.5
208.5
1,023.1
1,885.6
70.4
-117.5
187.9
872.7
1,875.9
111.4
-100.4
211.8
900.6
1,906.6
52.3
-131.8
184.0
901.2
1,865.9
37.7
-122.4
160.1
809.8
1,856.2
-82.6
-215.8
133.1
752.0
2,074.1
-401.2
-523.1
122.0
690.7
32
15.2
14.0
14.3
13.9
13.4
12.5
11.7
33
3.1
1.7
2.0
1.6
1.0
0.0
-0.9
Gross saving as a percentage
of gross national income.....
Net saving as a percentage of
gross national incom e..........
1. Consists of capital transfers and the acquisition and disposal of nonproduced nonfinancial assets.
Line
Equipment and software........
Information processing
equipment and software...
Computers and peripheral
equipment....................
Software 2........................
Other3.............................
Industrial equipment............
Transportation equipment....
Other equipment4...............
Residential.....................................
Structures..................................
Permanent site....................
Single family....................
Multifamily........................
Other structures 5................
Equipment.................................
Addenda:
Private fixed investment in
structures.............................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures 6..........................
Nonresidential structures.....
Residential structures..........
2006
2007
2007
2008
II
III
I
II
1.9
7.5
8.2
-3.1
4.9
12.7
3.0
10.3
18.3
-0.9
8.7
20.5
-6.2
3.4
8.5
-5.6
2.4
8.6
-1.7
2.5
18.5
5
6
6.1
10.2
8.1
8.3
14.1
23.1
1.5
25.6
54.2
13.5
19.8
21.4
8.8
49.5
16.2
-3.6
13.0
23.2
0.2
136.1
0.5
7
8
11.6
7.7
9.3
19.3
8.7
46.2
28.7
23.5
-8.4
13.2
15.5
12.8
31.6
17.3
-5.0
1
2
3
4
IV
9
7.2
1.7
6.9
3.6
1.0
-0.6
10
9.1
9.6
11.5
8.7
10.5
7.2
8.0
11
12
13
14
15
16
24.7
4.1
7.9
5.7
6.7
4.1
17.9
10.0
5.4
1.4
-12.6
-5.2
13.9
14.4
7.1
29.2
-23.4
6.2
19.5
6.4
6.5
-2.8
-5.6
4.6
19.3
9.9
7.3
-14.3
-15.2
6.3
16.1
9.9
0.2
0.8
-14.0
-12.5
13.0
2.1
13.0
-3.6
-46.6
-3.2
17
-7.1
-7.2
-17.9
-18.1
-11.5
-11.6
-20.6
-20.9
-27.0
-27.3
-25.1
-25.4
-13.3
-13.7
-8.5
-9.5
0.7
-5.1
-25.8
-27.4
-12.8
-5.3
-15.1
-13.4
-25.5
-6.6
-25.9
-26.7
-20.1
-13.6
-39.8
-42.8
-17.7
-8.2
-40.8
-46.2
-1.1
-3.6
-23.2
-30.7
24.7
-3.1
23
3.2
-1.4
-3.3
0.2
-2.5
-4.9
8.0
24
-2.4
-7.1
-0.4
-5.0
-12.5
-10.4
1.6
25
7.2
1.7
6.8
3.6
0.9
-0.6
-4.9
26
27
28
-1.4
8.4
-6.6
-6.3
12.7
-18.4
1.8
18.2
-9.8
-1.4
20.5
-17.4
-11.5
8.5
-27.5
-10.1
8.5
-26.9
2.1
18.3
-14.7
18
19
20
21
22
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational
structures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and
related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield
machinery, service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and
brokers’ commissions on the sale of residential structures.
6. Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
National Data
D -3 8
Table 5.3.2. Contributions to Percent Change in Real Private Fixed
Investment by Type
N ovem ber
Table 5.3.3. Real Private Fixed Investment by Type, Quantity Indexes
[Index numbers, 2000 = 100]
Seasonally adjusted
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Percent change at annual rate:
Private fixed investment....
Percentage points at annual
rates:
Nonresidential..............................
Structures.................................
Commercial and health care
Manufacturing......................
Power and communication...
Mining exploration, shafts,
and wells.........................
Other structures 1................
Equipment and software........
Information processing
equipment and software...
Computers and peripheral
equipment...................
Software 2.......................
Other 3............................
Industrial equipment............
Transportation equipment....
Other equipment4...............
Residential....................................
Structures.................................
Permanent site....................
Single family....................
Multifamily.......................
O ther structures 5................
Equipment.................................
Addenda:
Private fixed investment in
structures.............................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures 6..........................
Nonresidential structures.....
Residential structures..........
1
1.9
-3.1
III
3.0
-0.9
Line
2008
IV
-6.2
I
-5.6
-1.7
Commercial and health care
Manufacturing......................
Power and communication....
Mining exploration, shafts,
and wells..........................
Other structures 1................
3
4
5
6
6.81
3.64
5.87
4.19
2.40
1.94
1.77
2.04
1.84
4.36
0.40
0.12
0.17
0.59
0.18
0.52
0.12
0.33
1.19
1.02
0.27
0.57
0.72
0.67
0.47
-0.32
0.22
0.70
0.02
1.79
0.02
/
8
0.48
0.25
0.46
0.67
0.46
1.55
1.40
0.93
-0.49
0.58
0.84
0.59
1.72
0.81
9
3.24
0.78
3.17
1.67
0.46
-0.27
-2.52
10
1.96
2.10
2.57
1.99
2.44
1.77
2.01
11
12
13
14
15
16
17
0.91
0.39
0.66
0.43
0.53
0.32
0.70
0.94
0.47
0.12
-1.03
-0.41
0.57
1.41
0.60
2.15
-2.03
0.47
0.78
0.66
0.55
-0.25
-0.42
0.36
0.78
1.02
0.63
-1.31
-1.16
0.49
0.68
1.07
0.02
0.07
-1.04
-1.07
0.56
0.24
1.20
-0.32
-3.95
-0.26
-2.71
-2.72
-6.25
-6.25
-3.80
-3.78
-6.81
-6.81
-8.59
-8.58
-7.40
-7.38
-3.53
-3.57
-2.02
-2.03
0.02
-0.70
-5.56
-5.24
-0.32
-0.69
-2.91
-2.21
-0.70
-0.87
-4.99
-4.49
-0.50
-1.82
-7.56
-7.16
-0.41
-1.02
-6.94
-6.92
-0.02
-0.44
-3.19
-3.66
0.47
-0.38
0.01
-0.01
-0.02
0.00
-0.01
-0.02
0.03
23
24
-1.31
-3.82
-0.14
-2.62
-6.64
-5.34
0.80
25
3.26
0.77
3.15
1.67
0.45
-0.29
-2.49
26
27
28
-0.69
1.44
-2.14
-3.09
2.42
-5.51
0.92
3.63
-2.72
-0.65
4.18
-4.84
-5.61
1.94
-7.54
-4.85
2.02
-6.86
0.99
4.33
-3.34
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational struc
tures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and
related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery,
service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers’
commissions on the sale of residential structures.
6. Excludes net purchases of used structures and brokers' commissions on the sale of structures.
2007
2007
II
Private fixed investment....
Nonresidential...............................
Structures..................................
3.20
2.43
18
19
20
21
22
2006
II
4.66
1.41
2
2008
Equipment and software........
Information processing
equipment and software...
Computers and peripheral
equipment....................
Software 2.......................
Other3............................
Industrial equipment............
Transportation equipment....
Other equipment4...............
Residential.....................................
Structures..................................
Permanent site.....................
Single family....................
Multifamily........................
Other structures 5................
Equipment.................................
Addenda:
Private fixed investment in
structures.............................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures 6..........................
Nonresidential structures.....
Residential structures..........
1 111.109
2
3
4
5
6
106.987
86.318
80.413
65.806
75.480
III
107.717 108.475
112.244 111.502
97.264 95.447
108.218
113.863
100.005
85.287
72.416
92.037
88.025
75.756
96.608
87.048
75.083
92.881
2008
IV
I
II
106.503 104.969 104.522
114.819 115.504 116.212
102.076 104.206 108.716
89.911
83.763
100.294
89.086
86.364
105.666
89.133
107.059
105.804
7 149.933
8 80.025
163.896
95.505
160.431
94.304
170.885
99.416
167.155
102.543
173.291
105.677
185.600
109.978
9 115.467
117.412
117.302
118.348
118.636
118.470
116.961
141.339
144.914
147.465
150.324
10
127.574
139.842
138.415
11
12
13
14
15
16
195.433
122.340
108.784
96.414
99.186
119.265
230.472
134.548
114.710
97.805
86.683
113.095
224.513 234.740 245.331 254.682 262.580
133.795 135.899 139.131 142.463 143.201
113.782 115.585 117.627 117.698 121.342
95.494
100.669
99.953
96.179
96.369
67.497
86.678
85.427
81.981
78.949
112.438 113.716 115.475 111.679 110.767
17 123.728
101.534
101.216
105.552
105.284
99.644
99.303
92.110
91.686
85.698
85.216
82.692
82.144
93.247
90.399
117.306
114.250
98.490
96.004
119.627
116.431
91.392
88.829
113.089
112.243
80.509
77.259
107.728
109.882
70.609
66.172
107.427
108.883
66.108
60.369
113.512
108.043
128.580
128.470
128.541
127.738
126.133
128.573
18 123.659
19 125.587
20 124.554
21 134.561
22 120.705
23
130.379
24
108.196
100.474
101.929
100.632
97.315
94.690
95.063
25
115.588
117.501
117.392
118.430
118.708
118.530
117.055
26
27
28
105.658
86.311
121.254
98.988
97.241
98.884
100.027
95.427
102.501
99.675
99.979
97.706
96.681
102.046
90.146
94.142
104.159
83.356
94.638
108.637
80.114
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational struc
tures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. Excludes software “embedded," or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and
related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery,
service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers'
commissions on the sale of residential structures.
6. Excludes net purchases of used structures and brokers' commissions on the sale of structures.
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -3 9
Table 5.3.4. Price Indexes for Private Fixed Investment by Type
Table 5.3.5. Private Fixed Investment by Type
[Index numbers, 2000=100]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted
Line
2006
2007
2007
II
Private fixed investment....
Nonresidential..............................
Structures.................................
Commercial and health care
Manufacturing......................
Power and communication...
Mining exploration, shafts,
and wells.........................
Other structures 1................
Equipment and software........
Information processing
equipment and software...
Computers and peripheral
equipment...................
Software 2.......................
Other3.............................
Industrial equipment............
Transportation equipment....
Other equipment4...............
Residential....................................
Structures.................................
Permanent site....................
Single family....................
Multifamily.......................
Other structures 5................
Equipment.................................
Addenda:
Private fixed investment in
structures.............................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures 6..........................
Nonresidential structures.....
Residential structures..........
1 116.380
III
Line
2008
IV
I
117.995
108.739
3 151.822 157.662
117.945 117.836 118.189 118.117 118.353
108.730 108.558 109.015 109.177 109.788
157.195 157.402 159.138 160.182 161.496
4 138.099 145.646
5 130.934 138.106
6 136.877 143.206
144.787
137.232
142.368
146.318
138.727
143.898
147.712
140.011
145.296
148.729
141.573
146.941
149.067
142.078
149.897
7 264.801 265.158
8 132.465 138.742
266.584 259.684
138.000 139.323
263.966
140.532
265.221
140.978
269.548
141.296
Commercial and health care
Manufacturing......................
Power and communication....
Mining exploration, shafts,
and wells..........................
Other structures 1................
Equipment and software........
Private fixed investment....
Nonresidential...............................
Structures..................................
9
94.594
94.870
94.992
94.712
94.798
94.700
95.101
10
80.851
79.170
79.412
78.830
78.586
78.245
78.370
11
44.779
12 95.464
13 90.860
14 111.551
15 110.916
16 110.642
40.062
95.888
90.278
115.968
112.762
113.222
40.668
95.817
90.424
115.490
113.210
113.117
39.308
95.850
90.097
116.383
112.494
113.376
38.391
96.147
90.047
117.484
112.519
113.933
37.024
96.339
90.345
118.620
111.871
114.175
36.297
96.976
90.863
120.525
111.849
114.579
Information processing
equipment and software...
Computers and peripheral
equipment....................
Software 2........................
Other3.............................
Industrial equipment............
Transportation equipment....
Other equipment4...............
17 136.897
138.884
138.733
139.345
138.820 138.803
139.441 139.431
137.900
138.512
136.687
137.276
Residential.....................................
Structures..................................
142.818
142.390
145.133
133.911
142.795
142.246
145.726
134.167
142.608
141.997
145.839
134.368
140.827
140.224
144.018
134.364
138.467
137.874
141.605
134.220
Permanent site.....................
Single family....................
Multifamily........................
Other structures 5................
101.321
100.942 100.635
100.461
100.246
Equipment.................................
Addenda:
145.267
145.412
146.147
146.120
146.097
23
24
99.210 100.892
142.171
145.566
25
94.633
94.921
95.046
94.765
94.848
94.750
95.145
26
27
28
143.600
152.151
138.771
147.387
158.055
141.150
147.043
157.581
140.929
147.187
157.799
141.009
148.083
159.549
141.173
148.062
160.603
140.117
148.255
161.927
139.124
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational struc
tures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and
related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery,
service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers'
commissions on the sale of residential structures.
6. Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
2007
II
2 107.277
18 137.516 139.508
19 140.838 142.989
20 141.050 142.573
21 138.857 145.435
22 132.297 134.056
2006
Private fixed investment in
structures.............................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures 6..........................
Nonresidential structures.....
Residential structures..........
2007
2008
II
III
IV
I
II
2,171.1
1,414.1
410.4
2,134.0
1,503.8
480.3
2,148.1
1,493.7
469.8
2,141.0
1,522.9
492.9
2,113.4
1,542.1
508.7
2,081.7
1,553.6
522.7
2,077.0
1,571.9
549.8
152.8
27.4
48.4
174.4
33.0
62.3
169.8
31.6
61.3
177.1
33.4
65.0
182.6
37.3
68.2
182.2
38.9
72.6
182.7
48.4
74.2
7
8
107.9
74.1
118.1
92.6
116.2
90.9
120.7
96.7
120.0
100.6
125.0
104.0
136.1
108.5
1
2
3
4
5
6
9
1,003.7
1,023.5
1,023.9
1,030.0
1,033.4
1,030.9
1,022.1
10
482.3
517.7
514.1
521.1
532.5
539.6
550.9
11
12
13
14
15
16
88.8
205.7
187.8
171.2
177.0
173.1
93.7
227.3
196.8
180.6
157.2
168.0
92.8
225.8
195.5
185.1
157.8
166.9
93.7
229.5
197.9
185.2
154.6
169.2
95.7
235.6
201.2
179.9
148.4
172.6
95.8
241.8
202.0
182.0
142.1
167.3
96.8
244.6
209.5
183.2
121.4
166.5
17
757.0
747.4
630.2
620.7
654.4
644.8
618.1
608.6
571.3
561.8
528.1
518.7
505.0
495.6
468.8
416.0
52.8
278.7
353.4
305.2
48.2
267.3
372.8
323.7
49.1
272.1
345.8
299.2
46.6
262.8
304.2
259.8
44.4
257.6
263.4
219.7
43.7
255.3
242.5
197.1
45.4
253.1
23
9.5
9.5
9.6
9.5
9.5
9.3
9.5
24
1,157.9
1,100.9
1,114.6
1,101.5
1,070.5
1,041.5
1,045.4
25
1,013.2
1,033.1
1,033.5
1,039.5
1,042.9
1,040.2
1,031.6
26
27
28
1,057.7
409.9
647.8
1,017.1
479.7
537.4
1,025.4
469.3
556.2
1,022.8
492.4
530.4
998.1
508.2
489.9
971.7
522.1
449.6
978.1
549.1
429.0
18
19
20
21
22
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational struc
tures, net purchases of used structures, and brokers' commissions on the sale of structures.
2. Excludes software “embedded,” or bundled, in computers and other equipment.
3. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and
related equipment, and office and accounting equipment.
4. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield machinery,
service industry machinery, and electrical equipment not elsewhere classified.
5. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and brokers’
commissions on the sale of residential structures.
6. Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
National Data
D -4 0
N ovem ber
Table 5.3.6. Real Private Fixed Investment by Type, Chained Dollars
Table 5.6.5B. Change in Private Inventories by Industry
[Billions of chained (2000) dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Line
Private fixed investment....
Nonresidential...........................
Structures..............................
Commercial and health care
Manufacturing......................
Power and communication...
Mining exploration, shafts,
and wells.........................
Other structures 1................
Equipment and software.......
Information processing
equipment and software...
Computers and peripheral
equipment2.................
Software 3......................
O ther4............................
Industrial equipment............
Transportation equipment....
Other equipment5...............
2006
1 1,865.5
1,318.2
3
270.3
2
2007
2007
Line
2008
III
IV
I
II
1,808.5
1,382.9
304.6
1,821.3
1,373.8
298.9
1,817.0
1,402.9
313.2
1,788.2
1,414.7
319.7
1,762.4
1,423.1
326.4
1,754.9
1,431.8
340.5
4
5
6
110.6
20.9
35.3
119.7
23.9
43.5
117.3
23.0
43.1
121.1
24.1
45.2
123.7
26.6
46.9
122.5
27.5
49.5
122.6
34.0
49.5
7
8
40.7
55.9
44.5
66.7
43.6
65.9
46.4
69.4
45.4
71.6
47.1
73.8
50.4
76.8
9
1,061.0
1,078.9
1,077.9
1,087.5
1,090.1
1,088.6
1,074.7
10
596.6
653.9
647.3
660.9
677.6
689.6
702.9
11
12
13
14
15
16
215.5
206.7
153.5
159.5
156.5
237.0
218.0
155.7
139.4
148.4
235.7
216.2
160.3
139.4
147.5
239.4
219.6
159.1
137.4
149.2
245.1
223.5
153.1
131.9
151.5
251.0
223.6
153.4
127.0
146.5
252.3
230.6
152.0
108.6
145.3
552.9
543.5
453.8
444.9
471.7
462.8
445.3
436.5
411.6
403.0
383.0
374.6
369.6
361.1
332.9
294.9
38.0
210.6
247.1
214.1
33.1
199.4
261.0
227.3
33.8
203.2
242.2
210.3
32.0
195.9
213.4
182.9
30.4
191.7
187.1
156.7
30.4
190.0
175.2
142.9
32.1
188.5
17
Structures.............................
Permanent site....................
Single family....................
Multifamily.......................
Other structures 6................
18
19
20
21
22
Equipment..............................
Residual......................................
23
24
9.6
9.5
9.5
9.5
9.4
9.3
9.5
-41.0
-78.2
-72.3
-79.7
-94.4
-104.3
-106.6
25
814.4
756.3
767.2
757.5
732.5
712.8
715.6
26
1,070.6
1,088.4
1,087.3
1,097.0
1,099.5
1,097.9
1,084.2
697.3
297.9
394.6
694.9
312.1
376.2
674.0
318.5
347.1
656.3
325.1
320.9
659.8
339.1
308.4
27
28
29
736.6
269.4
466.8
690.1
303.5
380.7
1. Consists primarily of religious, educational, vocational, lodging, railroads, farm, and amusement and recreational
structures, net purchases of used structures, and brokers’ commissions on the sale of structures.
2. The quantity index for computers can be used to accurately measure the real growth rate of this component.
However, because computers exhibit rapid changes in prices relative to other prices in the economy, the chained-dollar
estimates should not be used to measure the component’s relative importance or its contribution to the growth rate of more
aggregate series; accurate estimates of these contributions are shown in table 5.3.2 and real growth rates are shown in
table 5.3.1.
3. Excludes software “embedded,” or bundled, in computers and other equipment.
4. Includes communication equipment, nonmedical instruments, medical equipment and instruments, photocopy and
related equipment, and office and accounting equipment.
5. Consists primarily of furniture and fixtures, agricultural machinery, construction machinery, mining and oilfield
machinery, service industry machinery, and electrical equipment not elsewhere classified.
6. Consists primarily of manufactured homes, improvements, dormitories, net purchases of used structures, and
brokers’ commissions on the sale of residential structures.
7. Excludes net purchases of used structures and brokers’ commissions on the sale of structures.
N o te . Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is
the difference between the first line and the sum of the most detailed lines.
2006
2007
2007
II
II
Residential.................................
Addenda:
Private fixed investment in
structures.............................
Private fixed investment in
equipment and software......
Private fixed investment in new
structures 7..........................
Nonresidential structures.....
Residential structures..........
2008
Change in private
inventories........................
Farm............................................
Mining, utilities, and construction
Manufacturing.............................
Durable goods industries.........
Nondurable goods industries....
Wholesale trade...........................
Durable goods industries.........
Nondurable goods industries....
Retail trade.................................
Motor vehicle and parts dealers
Food and beverage stores.......
General merchandise stores....
Other retail stores....................
Other industries...........................
2008
III
IV
I
II
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
49.3
-3.6
-0.9
23.0
-21.1
-25.6
-76.0
-3.9
6.5
15.0
8.0
7.0
17.0
11.2
5.8
10.5
-0.4
0.9
1.9
8.0
4.2
1.6
-1.1
-4.9
-0.2
-4.7
3.6
-1.7
5.4
-6.2
-8.6
0.9
-0.5
2.0
3.3
2.9
1.2
-10.2
-14.1
3.9
1.4
-13.1
14.5
0.3
-3.8
1.4
-0.1
2.8
3.5
-0.2
-3.5
-2.5
-2.9
0.4
17.1
-2.0
19.0
10.4
10.6
2.0
-2.6
0.4
1.7
5.7
-7.7
3.0
16.9
-14.0
-2.0
3.9
-5.9
-22.4
-26.6
1.0
-1.1
4.3
2.3
0.2
-15.4
18.1
3.9
14.2
-8.0
6.4
-14.4
-20.8
-10.4
0.4
-3.1
-7.7
0.3
-4.1
-14.4
-37.2
-19.7
-17.5
2.1
2,8
-0.7
-18.3
-13.1
0.8
0.1
-6.2
-4,2
16
17
18
19
49.3
20.3
29.0
53.3
-3.6
-10.2
6.5
-5.2
-0.9
-29.4
28.6
-3.8
23.0
0.8
22.2
23.2
-21.1
-6.1
-14.9
-26.7
-25.6
-7.2
-18.4
-25.8
-76.0
-43.9
-32.1
-71,9
Addenda:
Change in private inventories...
Durable goods industries.....
Nondurable goods industries
Nonfarm industries...................
Nonfarm change in book
value 1............................
Nonfarm inventory valuation
adjustment2....................
Wholesale trade.......................
Merchant wholesale trade....
Durable goods industries
Nondurable goods
industries.....................
Nonmerchant wholesale
trade...............................
20
91.0
54.4
65.8
48.5
60.6
111.0
124.9
21
22
23
24
-37.7
17.0
14.5
10.1
-59.6
3.6
5.9
-1.2
-69.5
1.4
5.2
-8.0
-25.3
17.1
18.9
0.6
-87.3
-2.0
2.2
3.2
-136.8
-8.0
-2.1
14.6
-196.8
2.1
12.8
11.6
25
4.4
7.1
13.2
18.3
-1.0
-16.7
1,2
26
2.5
-2.3
-3.8
-1.8
-4.2
-5.9
-10,7
1. This series is derived from the Census Bureau series “current cost inventories.”
2. The inventory valuation adjustment (IVA) shown in this table differs from the IVA that adjusts business incomes. The
IVA in this table reflects the mix of methods (such as first-in, first-out and last-in, first-out) underlying inventories derived
primarily from Census Bureau statistics (see footnote 1). This mix differs from that underlying business income derived
primarily from Internal Revenue Service statistics.
N o te . Estimates in this table are based on the North American Industry Classification System (NAICS).
Table 5.6.6B. Real Change in Private Inventories
by Industry, Chained Dollars
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Change in private
inventories........................
Farm............................................
Mining, utilities, and construction
Manufacturing.............................
Durable goods industries.........
Nondurable goods industries ....
Wholesale trade...........................
Durable goods industries.........
Nondurable goods industries....
Retail trade.................................
Motor vehicle and parts dealers
Food and beverage stores.......
General merchandise stores....
Other retail stores....................
Other industries..........................
Residual......................................
2008
III
IV
I
II
1
2
3
4
b
6
7
8
9
10
11
12
13
14
15
16
42.3
-2.5
-2.8
16.0
-8.1
-10.2
-50.6
-3.2
4.6
11.8
6.7
5.1
14,9
10.3
4.8
9.9
-0.4
0.7
1.8
7.3
3,8
0.8
1.0
-0.6
-3.5
0.0
-3.2
3.2
-1.5
4.0
-5.6
-8.6
0.7
-0.4
1.8
3.0
1.3
-0.1
0.8
-7.7
-11.2
2.8
1.4
-11.6
10.8
0.3
-3.8
1.1
-0.1
2.5
3.2
2.8
-2.5
-2.3
-2.2
-2.2
-0.2
14.3
-1.7
14.1
9.6
10.7
1.7
-2.4
0.4
1.5
-1.1
10.5
-5.0
2.9
13.8
-9.1
-1.5
3.5
-4.2
-20.2
-26.6
0.8
-1.0
3.9
2.1
3.2
6.0
-9.4
13.7
3.0
9.7
-5.1
5.6
-8.4
-18.5
-10.3
0.3
-2.8
-6.5
0.3
2.3
2.4
-8.0
-26.0
-14.4
-11.3
1.0
2.3
-0.8
-16.0
-13.0
0.6
0.1
-5.1
-3.4
0.0
17
18
19
20
21
22
23
42.3
18.3
23.8
46.3
14.9
12.9
9.2
-2.5
-8.7
5.3
-3.7
3.2
5.2
-1.0
-2.8
-25.7
20.0
-2.6
1.4
4.7
-7.0
16.0
0.9
14.2
19.2
14.3
16.1
0.6
-8.1
-5.2
-3.2
-20.6
-1.5
2.0
2.9
-10.2
-6.1
-4.3
-17.9
-5.1
-0.5
12.8
-50.6
-36.1
-16.9
-55.1
1.0
9.6
9.8
24
3.8
5.5
10.2
14.0
-0.7
-10.3
0.8
25
2.0
-1.8
-3.0
-1.5
-3.2
-4.1
-7.4
Addenda:
Change in private inventories...
Durable goods industries.....
Nondurable goods industries
Nonfarm industries...................
Wholesale trade.......................
Merchant wholesale trade....
Durable goods industries
Nondurable goods
industries.....................
Nonmerchant wholesale
trade...............................
Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (2000) dollar series for real change in private inventories are calculated as the period-to-period change in
chained-dollar end-of-period inventories. Quarterly changes in end-of-period inventories are stated at annual rates.
Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chaineddollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most
detailed lines.
N o te .
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
Table 5.7.5B. Private Inventories and Domestic Final Sales by Industry
[Billions of dollars]
D -4 1
Table 5.7.6B. Real Private Inventories and Real Domestic Final Sales
by Industry, Chained Dollars
[Billions of chained (2000) dollars]
Seasonally adjusted quarterly totals
Line
2007
II
Seasonally adjusted quarterly totals
2008
III
IV
I
II
1 2,009.3
2
175.5
3
93.5
4
603.4
5
353.9
6
249.5
7
483.9
8
275.0
9
208.9
10
510.4
11
155.0
12
39.8
13
80.8
14
234.8
15
142.6
2,030.7
2,088.0
2,178.2
2,264.4
182.1
90.3
606.0
350.4
255.6
492.0
275.5
216.4
516.2
158.6
40.7
80.7
236.2
144.1
191.2
91.5
628.7
356.9
271.8
511.9
278.8
233.1
517.0
152.6
42.1
81.0
241.2
147.8
220.2
95.2
661.9
373.4
288.5
531.2
286.6
244.5
518.4
150.8
43.2
81.6
242.9
151.4
235.1
103.5
697.2
389.9
307.3
552.3
295.3
256.9
522.4
147.9
44.6
82.8
247.1
153.9
Private inventories...................................................
Durable goods industries.....................................
Nondurable goods industries...............................
Nonfarm industries..................................................
Wholesale trade......................................................
Merchant wholesale trade...................................
Durable goods industries.................................
Nondurable goods industries...........................
Nonmerchant wholesale trade.............................
16 2,009.3
17
901.2
18 1,108.1
19 1,833.8
20
483.9
21
414.5
22
241.3
23
173.2
24
69.4
2,030.7 2,088.0 2,178.2 2,264.4
900.7
904.4
927.0
949.7
1,130.0 1,183.6 1,251.2 1,314.7
1,848.5 1,896.8 1,958.0 2,029.3
492.0
511.9
531.2
552.3
422.7
439.1
456.9
475.5
245.2
254.4
242.3
264.5
180.3
193.9
202.5
211.0
69.3
72.8
74.3
76.8
Final sales of domestic business 2.....................
Final sales of goods and structures of
domestic business 2 .........................................
Ratios of private inventories to final sales of
domestic business:
25
784.8
795.4
800.9
804.1
813.7
26
472.6
476.6
477.6
476.4
481.1
Private inventories to final sales..............................
Nonfarm inventories to final sales...........................
Nonfarm inventories to final sales of goods and
structures.............................................................
27
28
2.56
2.34
2.55
2.32
2.61
2.37
2.71
2.44
2.78
2.49
29
3.88
3.88
3.97
4.11
4.22
Private inventories 1...............................................
Farm............................................................................
Mining, utilities, and construction.................................
Manufacturing..............................................................
Durable goods industries.........................................
Nondurable goods industries....................................
Wholesale trade...........................................................
Durable goods industries.........................................
Nondurable goods industries...................................
Retail trade.......................
Motor vehicle and parts dealers..............................
Food and beverage stores.......................................
General merchandise stores...................................
Other retail stores.........
Other industries................
Addenda:
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated from currentdollar inventories in this table is not the current-dollar change in private inventories component of GDR The former is the
difference between two inventory stocks, each valued at its respective end-of-quarter prices. The latter is the change in the
physical volume of inventories valued at average prices of the quarter. In addition, changes calculated from this table are at
quarterly rates, whereas, the change in private inventories is stated at annual rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross
output of general government, gross value added of nonprofit institutions, compensation paid to domestic workers, and
space rent for owner-occupied housing. It includes a small amount of final sales by farm and by government enterprises.
Note. Estimates in this table are based on the North American Industry Classification System (NAICS).
Table 5.7.9B. Implicit Price Deflators for Private Inventories by Industry
[Index numbers, 2000=100]
Seasonally adjusted
2007
Line
II
Private inventories 1...............................................
Farm............................................................................
Mining, utilities, and construction.................................
Manufacturing..............................................................
Durable goods industries.........................................
Nondurable goods industries...................................
Wholesale trade...........................................................
Durable goods industries.........................................
Nondurable goods industries...................................
Retail trade..................................................................
Motor vehicle and parts dealers..............................
Food and beverage stores.......................................
General merchandise stores...................................
Other retail stores....................................................
Other industries...........................................................
III
2008
IV
I
II
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
122.017 123.016 126.644 132.316 138.617
138.997
150.851
130.218
124.845
138.498
121.480
112.077
136.135
108.808
99.045
121.470
109.066
114.317
112.585
144.969
146.912
130.930
123.840
141.926
122.403
112.486
137.890
109.491
99.634
122.791
109.775
114.959
113.478
149.068
152.031
135.620
124.625
152.835
127.474
113.402
149.499
110.842
100.057
126.304
110.609
116.847
115.881
169.647
164.593
141.740
130.063
160.029
132.696
115.925
158.996
112.258
100.562
129.248
112.391
118.560
118.630
180.322
185.324
151.408
137.523
173.197
137.889
119.176
167.290
114.119
100.856
132.804
114.066
121.357
121.371
16
17
18
19
20
21
22
23
24
122.017
114.060
129.170
120.506
121.480
119.857
112.438
131.768
132.082
123.016
113.968
131.173
121.091
122.403
120.809
112.849
133.617
132.806
126.644
114.630
137.519
124.674
127.474
125.316
113.778
143.859
141.673
132.316
117.709
145.562
129.077
132.696
130.449
116.338
153.162
147.483
138.617
121.997
153.697
135.001
137.889
134.838
119.620
159.365
158.353
Addenda:
Private inventories...................................................
Durable goods industries.....................................
Nondurable goods industries...............................
Nonfarm industries..................................................
Wholesale trade......................................................
Merchant wholesale trade...................................
Durable goods industries.................................
Nondurable goods industries............................
Nonmerchant wholesale trade.............................
1. Implicit price deflators are as of the end of the quarter and are consistent with inventory stocks.
Note. Estimates in this table are based on the North American Industry Classification System (NAICS).
2007
Line
II
2008
III
IV
I
II
1 1,646.7
2
126.3
3
62.0
4
463.4
5
283.5
6
180.2
7
398.3
8
245.4
9
153.4
469.1
10
11
156.5
12
32.7
13
74.1
14
205.4
15
126.6
16
0.6
1,650.7
1,648.7
1,646.2
1,633.6
125.6
61.4
462.8
282.9
180.1
401.9
245.0
157.0
471.5
159.2
33.1
73.5
205.5
127.0
0.4
128.3
60.2
463.6
286.4
177.8
401.5
245.8
155.9
466.4
152.5
33.3
73.3
206.5
127.5
1.2
129.8
57.8
467.0
287.1
180.3
400.3
247.2
153.8
461.8
149.9
33.4
72.6
204.8
127.6
1.9
130.4
55.8
460.5
283.5
177.5
400.5
247.8
153.6
457.8
146.7
33.6
72.6
203.6
126.8
1.7
Private inventories..................................................
Durable goods industries....................................
Nondurable goods industries..............................
Nonfarm industries..................................................
Wholesale trade......................................................
Merchant wholesale trade...................................
Durable goods industries................................
Nondurable goods industries..........................
Nonmerchant wholesale trade............................
17
18
19
20
21
22
23
24
25
1,646.7
790.1
857.9
1,521.8
398.3
345.8
214.6
131.5
52.5
1,650.7
790.3
861.5
1,526.6
401.9
349.9
214.7
135.0
52.2
1,648.7
789.0
860.7
1,521.4
401.5
350.4
215.5
134.8
51.4
1,646.2
787.5
859.6
1,516.9
400.3
350.2
218.7
132.2
50.4
1,633.6
778.5
855.4
1,503.2
400.5
352.6
221.1
132.4
48.5
Final sales of domestic business 2....................
Final sales of goods and structures of
domestic business 2..........................................
Ratios of private inventories to final sales of
domestic business:
26
683.8
691.6
693.1
693.4
702.8
27
424.1
428.4
428.4
426.5
435.3
Private inventories to final sales.................................
Nonfarm inventories to final sales...............................
Nonfarm inventories to final sales of goods and
structures................................................................
28
29
2.41
2.23
2.39
2.21
2.38
2.20
2.37
2.19
2.32
2.14
30
3.59
3.56
3.55
3.56
3.45
Private inventories 1..............................................
Farm.................................
Mining, utilities, and construction................................
Manufacturing...................
Durable goods industries
Nondurable goods industries..................................
Wholesale trade................
Durable goods industries
Nondurable goods industries..................................
Retail trade.................................................................
Motor vehicle and parts dealers..............................
Food and beverage stores......................................
General merchandise stores...................................
Other retail stores.........
Other industries................
Residual...........................
Addenda:
1. Inventories are as of the end of the quarter. The quarter-to-quarter changes calculated from this table are at quarterly
rates, whereas the change in private inventories component of GDP is stated at annual rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross
output of general government, gross value added of nonprofit institutions, compensation paid to domestic workers, and
space rent for owner-occupied housing. It includes a small amount of final sales by farm and by government enterprises.
N ote . Estimates in this table are based on the North American Industry Classification System (NAICS).
Chained (2000) dollar inventory series are calculated to ensure that the chained (2000) dollar change in inventories for
2000 equals the current-dollar change in inventories for 2000 and that the average of the 1999 and 2000 end-of-year
chain-weighted and fixed-weighted inventories are equal.
National Data
D -4 2
N ovem ber
6. Income and Employment by Industry
Table 6.1D. National Income Without Capital Consumption Adjustment by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
National income without capital consumption adjustment.....................................................
Domestic industries........................................................................................................................................
Private industries........................................................................................................................................
Agriculture, forestry, fishing, and hunting.....................................................................................
Mining.........................................................................................................................................
Utilities.......................
Construction................
Manufacturing.............
Durable goods.........
Nondurable goods....
Wholesale trade..........................................................................................................................
Retail trade.............................
Transportation and warehousing.................................................................................................
Information..................................................................................................................................
Finance, insurance, real estate, rental, and leasing.....................................................................
Professional and business services 1..........................................................................................
Educational services, health care, and social assistance............................................................
Arts, entertainment, recreation, accommodation, and food services...........................................
Other services, except government.............................................................................................
Government..................................................................................................................................................
Rest of the w orld.............................................................................................................................................
1
2
3
4
b
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
III
2008
IV
I
II
11,875.1
11,796.9
10,415.7
12,362.4
12,260.0
10,806.5
12,320.5
12,260.8
10,817.0
12,433.7
12,321.5
10,857.6
12,528.4
12,363.0
10,884.5
12,347.7
12,209.5
10,708.7
12,417.3
12,303.4
10,783.9
82.9
196.7
204.6
645.1
1,461.8
818.8
643.1
739.2
884.9
346.4
438.0
2,092.3
1,611.2
1,001.5
428.3
282.9
117.4
204.9
216.3
563.5
1,489.6
839.8
649.8
765.2
908.0
361.5
463.4
2,193.0
1,717.3
1,060.1
449.9
296.4
115.5
207.4
211.8
564.7
1,520.9
834.5
686.4
772.2
920.2
368.3
441.5
2,212.1
1,694.0
1,046.2
448.5
293.8
121.4
212.8
217.2
555.7
1,476.3
842.7
633.6
773.5
902.4
364.2
472.4
2,208.1
1,736.8
1,067.5
452.3
297.0
121.4
212.5
224.3
541.5
1,475.4
845.1
630.3
754.6
907.9
359.2
485.1
2,200.2
1,743.4
1,101.1
455.6
302.5
113.5
216.3
207.1
527.4
1,419.7
800.0
619.8
723.8
892.8
343.8
465.9
2,165.9
1,788.9
1,096.9
446.7
299.8
110.1
224.5
218.5
524.5
1,400.9
770.0
630.9
738.7
875.2
346.3
477.6
2,199.0
1,794.9
1,110.3
460.7
302.6
1,381.2
78.3
1,453.6
102.4
1,443.9
59.7
1,463.9
112.2
1,478.5
165.4
1,500.7
138.2
1,519.5
113.9
1. Consists of professional, scientific, and technical services; management of companies and enterprises; and administrative and waste management services.
Note. Estimates in this table are based on the 1997 North American Industry Classification System (NAICS).
Table 6.16D. Corporate Profits by Industry
[Billions of dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Corporate profits with inventory valuation and capital consumption adjustments..............
Domestic industries........................................................................................................................................
Financial1.......................................................................................................................................
Nonfinancial....................................................................................................................................
Rest of the w orld..............................
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 financial2
Nonfinancial .......
Utilities............
Manufacturing..
15
Durable goods.........................................................................................................................
Fabricated metal products...................................................................................................
Machinery...........................................................................................................................
Computer and electronic products.......................................................................................
Electrical equipment, appliances, and components.............................................................
Motor vehicles, bodies and trailers, and parts.....................................................................
Other durable goods 3.........................................................................................................
Nondurable goods...................................................................................................................
Food and beverage and tobacco products...........................................................................
Petroleum and coal products...............................................................................................
Chemical products..............................................................................................................
Other nondurable goods 4...................................................................................................
Wholesale trade..........................................................................................................................
Retail trade
Transportation and warehousing..................................................................................................
Information..................................................................................................................................
Other nonfinancial5....................................................................................................................
Rest of the world . ..
1
2
3
4
1,668.5
1,401.0
1,642.4
1,297.8
1,672.5
1,369.7
III
2008
IV
I
II
1,668.3
1,311.9
1,611.1
1,189.7
1,593.5
1,195.1
1,533.3
1,159.8
376.6
783.2
462.1
939.0
429.7
868.1
473.1
896.6
439.3
872.6
370.3
819.5
407.6
787.4
5
6
7
267.5
344.7
302.9
356.4
421.3
398.5
373.5
438.9
171.4
509.2
164.5
494.7
191.8
528.4
172.0
553.1
131.8
556.8
158.3
565.7
192.2
8
9
10
11
12
13
14
1,834.2
1,566.7
1,835.1
1,490.5
1,859.5
1,556.7
1,866.1
1,509.7
1,820.2
1,398.9
1,641.5
1,243.1
1,596.0
1,222.5
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
478.8
33.8
445.0
1,087.9
55.6
304.3
115.9
19.2
20.0
14.1
8.4
-8.4
62.6
188.4
33.8
77.5
53.8
23.4
107.5
132.3
42.5
91.1
354.7
449.9
37.7
412.2
1,040.6
58.5
316.6
127.4
21.7
22.3
13.5
10.9
-5.9
64.9
189.3
38.5
66.9
66.4
17.5
102.6
132.3
42.7
103.0
284.9
492.7
38.5
454.2
1,064.0
54.7
350.8
123.1
20.0
22.4
9.0
9.6
-2.7
64.8
227.8
42.7
106.7
64.6
13.8
112.7
145.9
45.4
85.0
269.4
460.3
37.5
422.8
1,049.3
58.7
306.6
130.9
22.5
22.2
13.2
10.7
-4.4
66.8
175.7
39.2
55.6
65.1
15.9
109.1
126.0
47.0
108.4
293.5
392.4
36.5
355.9
1,006.5
63.2
292.1
128.3
22.8
22.0
15.4
11.5
-7.7
64.3
163.8
38.7
33.6
73.8
17.8
80.2
124.5
37.7
117.9
290.9
412.8
35.8
377.1
830.2
46.2
240.5
85.5
18.9
19.2
14.4
6.9
-19.9
46.1
155.0
34.8
48.8
60.2
11.1
49.2
112.0
24.4
106.0
252.0
383.2
31.0
352.2
839.3
56.7
214.9
54.2
15.1
14.8
6.6
5.9
-27.4
39.3
160.7
40.9
36.6
78.5
4.7
59.4
92.7
24.8
115.0
275.8
33
267.5
344.7
302.9
356.4
421.3
398.5
373.5
1. Consists of finance and insurance and bank and other holding companies.
2. Consists of credit intermediation and related activities; securities, commodity contracts, and other financial investments and related activities; insurance carriers and related activities; funds, trusts, and other finan
cial vehicles; and bank and other holding companies.
3. Consists of wood products; nonmetallic mineral products; primary metals; other transportation equipment; furniture and related products; and miscellaneous manufacturing.
4. Consists of textile mills and textile product mills; apparel; leather and allied products; paper products; printing and related support activities; and plastics and rubber products.
5. Consists of agriculture, forestry, fishing, and hunting; mining; construction; real estate and rental and leasing; professional, scientific, and technical services; administrative and waste management services; educa
tional services; health care and social assistance; arts, entertainment, and recreation; accommodation and food sen/ices; and other services, except government.
Note. Estimates in this table are based on the 1997 North American Industry Classification System (NAICS).
2008
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -4 3
7. Supplemental Tables
Table 7.1. Selected Per Capita Product and Income Series in
Current and Chained Dollars
Table 7.2.1 B. Percent Change from Preceding Period in
Real Motor Vehicle Output
[Dollars]
[Percent]
Seasonally adjusted at annual rates
Line
2006
2007
2007
Seasonally adjusted at annual rates
Line
2008
II
III
IV
I
II
Current dollars:
1
2
3
4
44,046
44,307
36,744
32,222
45,707
46,046
38,609
33,667
45,539
45,736
38,378
33,441
46,125
46,496
38,784
33,820
46,273
46,819
39,153
34,138
46,569
47,024
39,361
34,309
46,940
47,314
40,025
35,579
b
6
7
8
30,773
3,516
8,975
18,282
32,144
3,584
9,378
19,181
32,014
3,598
9,341
19,075
32,288
3,591
9,412
19,285
32,625
3,572
9,584
19,469
32,917
3,525
9,711
19,681
33,291
3,478
9,938
19,875
9
10
11
37,750
37,976
28,098
38,148
38,432
28,614
38,093
38,260
28,523
38,438
38,750
28,669
38,324
38,777
28,636
38,326
38,704
28,525
38,510
38,821
29,274
Chained (2000) dollars:
Gross domestic product..........
Gross national product............
Disposable personal income....
Personal consumption
expenditures........................
Durable goods.....................
Nondurable goods...............
Services..............................
Population (midperiod, thousands)
12 26,835 27,319 27,306 27,371 27,366 27,367 27,391
13
3,961
4,113
4,118
4,131
4,124
4,071
4,033
14
7,805
7,920
7,928
7,931
7,949
7,915
7,891
15 15,140 15,380 15,357 15,407 15,421
15,482 15,474
16 299,199 302,087 301,667 302,452 303,225 303,868 304,528
2007
2007
II
Motor vehicle o utput.....
Gross domestic product..........
Gross national product............
Personal income......................
Disposable personal income....
Personal consumption
expenditures........................
Durable goods.....................
Nondurable goods...............
Services..............................
2006
Auto output..................
Truck output.................
Final sales of domestic product
Personal consumption
expenditures........................
New motor vehicles..............
Autos...............................
Light trucks (including
utility vehicles).............
Net purchases of used autos
and used light trucks........
Used autos......................
Used light trucks (including
utility vehicles).............
Private fixed investment.........
New motor vehicles..............
Autos...............................
Trucks..............................
Light trucks (including
utility vehicles).........
Other...........................
Net purchases of used autos
and used light trucks........
Used autos......................
Used light trucks (including
utility vehicles).............
Gross government
investment............................
Autos...................................
Trucks .................................
Net exports................................
Exports...............................
Autos...............................
Trucks..............................
Imports................................
Autos...............................
Trucks.............................
Change in private inventories....
Autos.......................................
New.....................................
Domestic.........................
Foreign............................
Used...................................
Trucks......................................
New.....................................
Domestic.........................
Foreign............................
Used 1.................................
III
2008
IV
I
II
1
2
3
-0.9
-1.1
4.6
17.3
-25.7
-14.2
-33.8
3.6
-3.5
-1.8
-0.7
-3.3
9.6
16.4
17.8
-9.1
-34.3
-3.9
-20.2
-7.0
-48.0
4
-1.0
0.0
0.1
-5.8
4.5
-18.8
-35.9
b
6
7
-3.1
2.1
1.1
-8.2
0.0
-11.9
-23.0
-5.4
2.3
0.9
-3.8
-2.7
5.1
-15.7
-22.9
6.1
25.5
-20.9
-10.4
-25.3
23.4
8
-10.7
4.7
-8.0
-9.9
-6.3
-28.4
-53.0
9
10
1.9
0.0
4.6
-1.2
9.3
-1.8
8.1
2.5
-10.8
-11.2
8.1
9.3
-18.8
-19.3
-18.4
11
3.9
10.2
20.3
13.1
-10.4
7.2
12
13
14
15
10.6
-15.6
-28.5
2.8
-8.6
-23.3
-56.1
8.2
4.7
9.9
-6.7
2.4
-11.1
-21.0
-3.7
-29.0
12.3
15.8
10.3
-11.4
-6.8
-14.0
-17.0
-17.1
-17.0
-36.3
-14.8
-46.7
16
17
10.3
8.9
-0.3
-36.7
-10.9
-65.6
31.1
-44.3
-16.2
-3.8
-15.4
-23.5
-55.4
5.0
18
19
3.1
1.2
13.5
7.9
-5.4
-12.8
30.1
19.1
-15.8
-21.5
-5.9
13.6
6.6
7.3
20
5.0
19.0
2.1
40.8
-10.6
-20.3
6.0
21
22
23
8.5
2.3
-17.3
200.2
-15.0
-17.8
-25.4
8.3
8.5
0.5
2.8
22.7
-27.8
-26.7
354.6
91.5
-31.5
-31.0
-13.5
-41.5
-20.2
10.9
16.4
6.1
9.0
10.7
7.5
22.7
32.0
14.0
-2.6
-1.6
-3.6
40.2
40.5
39.8
-14.3
-1.2
-24.8
37.5
66.5
11.8
25.2
41.3
11.3
22.6
31.9
12.7
-11.1
-16.4
-5.5
-10.9
6.4
-28.3
-2.8
7.4
-12.1
4.7
10.7
-2.7
-7.8
-3.5
-12.1
42
0.8
-3.0
-8.0
-1.7
-2.8
-15.0
-32.3
43
44
45
8.0
1.8
9.7
0.8
-3.3
3.2
-8.0
-6.7
6.5
24.5
22.9
-6.7
-12.4
4.3
-1.3
-16.1
-0.8
-20.2
-40.8
-23.7
42.5
?4
25
26
27
28
29
30
31
3?
33
34
35
36
37
38
39
40
41
Addenda:
Final sales of motor vehicles to
domestic purchasers............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos 2
Sales of imported new autos 3
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investment.
National Data
D -4 4
N ovem ber
Table 7.2.3B. Real Motor Vehicle Output, Quantity Indexes
Table 7.2.4B. Price Indexes for Motor Vehicle Output
[Index numbers, 2000=100]
[Index numbers, 2000=100]
Seasonally adjusted
Line
2006
2007
Motor vehicle output......
Auto output...................
Truck output..................
Final sales of domestic product
Personal consumption
expenditures.........................
New motor vehicles..............
Autos................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks........
Used autos.......................
Used light trucks (including
utility vehicles)..............
Private fixed investment.........
New motor vehicles..............
Autos...............................
Trucks..............................
Light trucks (including
utility vehicles)..........
Other...........................
Net purchases of used autos
and used light trucks........
Used autos.......................
Used light trucks (including
utility vehicles)..............
Gross government investment
Autos....................................
Trucks...................................
Exports.................................
Autos................................
Trucks...............................
Imports.
Autos
Trucks..............................
Change in private inventories....
Foreign.............................
Foreign.............................
Seasonally adjusted
2007
II
III
2008
IV
I
Line
113.904 114.036
118.665
110.163
106.030
95.654
100.871
123.268
103.191
129.810
100.751
116.888
99.746
110.483
97.957
93.809
Auto output...................
Truck output..................
4 119.588
119.594 120.165 118.378 119.686
113.613 101.676
b 113.422 115.840 117.169 114.674 114.675
6 117.461 118.554 120.427 115.410 117.140
7 105.304 101.340 103.504
96.989 102.650
111.109 104.072
Final sales of domestic product
Personal consumption
expenditures.........................
8
128.713
134.736
136.312
132.796
130.655
120.174
99.477
9
10
105.765
93.658
110.623
92.577
110.942
92.869
113.115
93.442
109.937
90.717
112.107
92.747
106.417
87.913
11 120.518 132.777
12 118.694 100.189
13 114.097 106.460
96.977
14 94.689
15 126.619 112.570
133.127
137.295
133.561
135.897
129.162
New motor vehicles..............
Autos................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks.........
Used autos.......................
Used light trucks (including
utility vehicles)..............
98.253
98.934
96.734
90.513
73.668
Private fixed investment..........
104.156 107.210
98.967
95.397
109.797 112.517
104.012
97.240
108.369
99.266
92.789
103.433
88.679
89.136
88.362
16 127.616
17 122.500
127.170
77.587
123.375
77.110
132.008
66.613
126.311
65.964
121.135
61.695
98.968
62.455
18
19
101.551
93.832
115.249
101.215
112.306
99.650
119.944
104.106
114.881
97.983
113.153
101.164
114.972
102.955
20
110.302
131.278
126.746
138.054
134.225
126.830
128.680
New motor vehicles..............
Autos................................
Trucks..............................
Light trucks (including
utility vehicles)..........
Other............................
Net purchases of used autos
and used light trucks.........
Used autos......................
Used light trucks (including
utility vehicles)..............
21 125.659
22 111.390
23 131.145
94
25 174.003
26 185.315
27 164.165
28 118.874
29 106.944
30 132.872
128.541
111.085 146.217 140.382
133.665 124.238
Gross government investment
111.978 113.006
134.864 110.701
104.551
161.646
122.991
147.035
112.084
141.795
102.699
105.272
98.039
134.017
Exports................................
Autos................................
Trucks..............................
Imports
Autos................................
Trucks..............................
Change in private inventories....
31
V
33
34
35
SH
37
38
39
40
41
Autos........................................
Foreign.............................
Used....................................
Domestic..........................
Foreign.............................
Used 1.................................
2007
III
2008
IV
I
II
1
2
3
97.526
96.738
96.940
96.803
96.322
95.413
94.710
99.319
96.366
98.795
95.425
99.047
95.598
98.907
95.460
98.079
95.185
97.100
94.318
97.528
92.839
4
97.409
96.659
96.858
96.731
96.268
95.406
94.770
b
6
7
97.020
95.863
95.725
96.034
95.957
95.456
94.905
95.596
97.619
94.607
97.214
94.675
97.267
94.571
97.237
94.475
97.061
94.021
96.668
93.634
96.803
8
94.140
92.723
92.798
92.644
92.604
92.103
91.257
9 99.957
10 101.852
98.447
100.575
97.893
100.035
99.040
101.192
99.003 98.408
101.109 101.066
97.550
101.429
96.282
95.718
96.852
11
97.992
96.855
95.812
93.959
12 106.211 107.595 108.345 107.167 106.983 106.086 105.746
13 98.062
97.801
97.917
97.839
97.751
97.452 97.096
97.214 97.268
14 97.619
97.237
97.061
96.667 96.800
15 98.395
98.205 98.353
98.248 98.210
97.967 97.307
16 94.161
17 111.753
18
19
88.190
89.108
92.726
116.038
92.805
116.388
92.648
116.651
92.605
116.693
92.103
117.870
91.258
118.175
85.319
86.343
84.573
85.625
86.002
87.001
86.054
87.056
86.526
87.321
86.160
86.716
85.079
85.730
85.581
84.324
87.290
83.555
85.030
21 105.433 107.837 107.878 108.386
22 101.915 103.554 102.719 104.957
23 106.514 109.162 109.510 109.468
?4
25 107.970 108.926 108.783 109.007
26 105.471 106.099 105.998 106.031
27 110.373 111.676 111.448 111.882
28 105.214 106.226 105.850 106.200
29 103.823 104.763 104.276 104.742
30 106.683 107.765 107.497 107.730
31
3?
33
34
2U
107.959 108.444 109.020
103.091
109.439
103.354 106.225
109.993 109.907
109.345
106.398
112.179
107.253
105.978
108.596
109.530 109.864
106.493 106.598
112.478 113.128
107.879 108.198
106.905 107.039
108.914 109.431
36
37
38
39
40
41
Addenda:
42
116.103
112.677
112.526
112.038
111.247
106.813
96.893
43
44
45
112.014
93.528
120.915
112.884
90.459
124.797
110.150
87.519
126.476
116.357
92.148
124.306
112.564
93.127
123.901
107.726
92.936
117.123
94.476
86.855
127.964
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investment.
Autos....................................
Trucks..................................
Net exports.................................
213.573 206.291 223.368 235.045 228.382 231.004
244.559 228.992 260.135 278.792 283.120 290.385
187.144 186.808 192.078 197.894 182.075 180.825
115.740 112.254 118.738 115.292 114.477 112.172
105.268 101.812 111.007 106.143 108.056 107.101
128.049 124.520 127.889 126.080 122.092 118.212
Addenda:
Final sales of motor vehicles to
domestic purchasers............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos 2
Sales of imported new autos 3
2007
II
1 115.156
2 102.678
3 124.114
110.459
99.882
2006
II
Motor vehicle output......
99.356
124.605
2008
Final sales of motor vehicles to
domestic purchasers............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos2
Sales of imported new autos 3
42
98.883
98.471
98.543
98.513
98.398
97.845
97.379
43
44
45
95.635
98.809
97.620
94.612
98.814
97.215
94.681
98.953
97.270
94.574
98.814
97.238
94.478
98.831
97.063
94.020
98.497
96.669
93.590
98.604
96.805
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investment.
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -4 5
Table 7.2.5B. Motor Vehicle Output
Table 7.2.6B. Real Motor Vehicle Output, Chained Dollars
[Billions of dollars]
[Billions of chained (2000) dollars]
Seasonally adjusted at annual rates
Line
2006
2007
2007
II
Seasonally adjusted at annual rates
Line
2008
III
IV
I
1
409.9
402.2
403.9
419.4
387.1
368.5
330.4
Motor vehicle output.......
Auto output...................
Truck output..................
2
3
154.1
255.8
150.6
251.6
148.7
255.2
154.3
265.1
149.3
237.8
146.4
222.1
144.5
185.9
Auto output...................
Truck output..................
Final sales of domestic product
Personal consumption
expenditures.........................
4
412.9
409.7
412.5
405.8
408.4
384.2
341.5
5
6
7
358.2
361.5
365.1
358.5
358.2
345.2
321.5
Final sales of domestic product
Personal consumption
expenditures.........................
240.6
106.5
240.3
102.0
244.3
104.3
233.8
97.7
237.1
103.2
222.5
100.0
206.0
105.6
8
134.1
138.3
140.0
136.1
133.9
122.5
100.5
9
10
117.6
57.9
121.2
56.5
120.8
56.3
124.6
57.4
121.1
55.6
122.7
56.9
115.5
54.1
Private fixed investment.........
New motor vehicles..............
Autos...............................
Trucks..............................
Light trucks (including
utility vehicles)..........
Other...........................
Net purchases of used autos
and used light trucks........
Used autos.......................
Used light trucks (including
utility vehicles)..............
Gross government
investment..............................
Autos...................................
Trucks..................................
Net exports.................................
Exports.................................
Autos...............................
Trucks..............................
Imports.................................
Autos...............................
Trucks..............................
Change in private inventories....
Autos.......................................
New.....................................
Domestic.........................
Foreign............................
Used....................................
Trucks......................................
New.....................................
Domestic..........................
Foreign.............................
Used 1.................................
11
59.8
64.7
64.5
67.3
65.4
65.9
61.4
New motor vehicles...............
Autos................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks.........
Used autos.......................
Used light trucks (including
utility vehicles)..............
12
13
14
15
149.1
127.5
125.9
125.4
122.4
113.6
92.1
Private fixed investment..........
216.4
70.6
145.7
201.3
72.0
129.3
197.2
70.9
126.3
202.8
73.5
129.3
196.6
72.1
124.5
187.1
68.5
118.6
166.5
65.9
100.6
16
17
103.4
42.3
101.5
27.8
98.5
27.8
105.3
24.1
100.7
23.8
96.0
22.5
77.7
22.9
18
19
-67.3
-33.3
-73.9
-34.8
-71.3
-34.0
-77.5
-36.1
-74.2
-34.0
-73.5
-35.2
-74.4
-35.6
20
-33.9
-39.0
-37.3
-41.4
-40.2
-38.3
-38.8
New motor vehicles...............
Autos................................
Trucks..............................
Light trucks (including
utility vehicles)..........
Other.............................
Net purchases of used autos
and used light trucks.........
Used autos.......................
Used light trucks (including
utility vehicles)..............
Gross government investment
21
22
23
16.4
17.2
14.8
19.6
18.8
17.9
16.8
3.9
12.5
4.0
13.2
4.0
10.9
3.7
15.9
4.3
14.4
4.0
14.0
3.6
13.2
24
25
26
27
28
29
30
-110.8
-96.4
-93.3
-97.6
-90.9
-92.5
-88.9
49.1
23.9
25.2
159.9
77.1
82.8
60.8
31.7
29.0
157.2
76.6
80.6
58.6
29.7
28.9
151.9
73.7
78.2
63.6
33.7
29.9
161.2
80.7
80.5
67.1
36.3
30.8
158.1
78.1
80.0
65.3
36.9
28.4
157.9
80.2
77.7
66.3
37.9
28.4
155.2
79.6
75.6
31
32
33
34
35
36
37
38
39
40
41
-3.0
-7.5
-8.6
13.6
-21.2
-15.7
-11.2
1.7
3.4
2.1
1.3
-1.7
-4.7
-2.8
-3.5
0.8
-2.0
-4.2
-3.2
-2.3
-0.8
-1.1
-3.3
-3.0
-2.3
-0.8
-0.3
-8.7
-6.9
-3.4
-3.5
-1.9
0.1
2.1
4.3
-2.2
-2.0
5.0
4.6
1.5
3.1
0.4
8.5
7.4
4.6
2.8
1.1
-10.1
-7.7
-6.3
-1.4
-2.4
-11.1
-11.5
-7.9
-3.5
0.3
-4.4
-2.1
-5.1
3.0
-2.4
-11.3
-9.1
-11.3
2.2
-2.1
-7.3
-4.1
-3.4
-0.6
-3.3
-3.8
-3.3
-5.1
1.8
-0.6
42
523.7
506.1
505.8
503.5
499.3
476.7
430.4
43
44
45
174.0
102.1
99.0
173.5
98.8
101.7
169.4
95.7
103.2
178.8
100.7
101.4
172.8
101.8
100.9
164,5
101.2
95.0
143.6
94.8
103.9
Addenda:
Final sales of motor vehicles to
domestic purchasers............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos 2
Sales of imported new autos 3
2007
Autos....................................
Trucks..................................
Netexpoits
Exports................................
Autos................................
Trucks..............................
Imports
Autos................................
Trucks..............................
Change in private inventories....
Autos........................................
New......................................
Domestic...........................
Foreign.............................
Used....................................
Trucks.......................................
New......................................
Domestic..........................
Foreign.............................
Used 1..................................
Residual.......................................
1
2
3
2008
III
IV
I
II
420.3
415.7
416.2
433.1
402.1
387.0
349.1
155.1
265.5
152.4
263.6
150.1
266.5
155.9
277.6
152.2
250.0
150.7
236.3
148.0
200.6
4
423.9
423.9
425.9
419.6
424.2
402.7
360.4
5
6
7
369.2
377.1
381.4
373.3
373.3
361.7
338.7
251.7
109.1
254.0
105.0
258.0
107.2
247.3
100.5
251.0
106.3
236.7
103.5
220.0
109.0
8
142.4
149.1
150.8
147.0
144.6
133.0
110.1
9
10
117.7
56.8
123.1
56.1
123.4
56.3
125.8
56.7
122.3
55.0
124.7
56.3
118.4
53.3
65.4
11
61.0
67.2
67.4
69.5
67.6
68.8
12
13
14
15
140.4
118.5
116.2
117.0
114.4
107.0
87.1
220.6
72.3
148.1
205.9
74.1
131.7
201.4
72.9
128.4
207.3
75.6
131.6
201.1
74.3
126.8
192.0
70.9
121.0
171.5
68.1
103.4
16
17
109.8
37.9
109.5
24.0
106.2
23.8
113.6
20.6
108.7
20.4
104.3
85.2
19.3
18
19
-76.3
-37.4
-86.6
-40.3
-84.4
-39.7
-90.1
-41.5
-86.3
-39.1
-85.0
-40.3
-86.4
-41.0
20
-38.9
-46.3
-44.7
-48.7
-47.3
-44.7
-45.4
21
22
23
24
25
26
27
28
29
30
15.6
15.9
13.8
18.1
17.4
16.6
15.4
3.8
11.8
3.8
12.1
3.9
9.9
3.6
14.5
4.2
13.2
3.8
12.7
3.3
12.0
-106.5
-92.2
-89.6
-93.4
-86.0
-86.7
-83.1
45.5
22.7
22.8
152.0
74.2
77.6
55.8
29.9
26.0
148.0
73.1
74.8
53.9
28.0
25.9
143.5
70.7
72.8
58.4
31.8
26.7
151.8
77.1
74.7
61.4
34.1
27.5
147.4
73.7
73.7
59.7
34.6
25.3
146.3
75.0
71.3
60.4
35.5
25.1
143.4
74.3
69.1
31
32
33
34
35
36
37
38
39
40
41
42
-2.9
-7.5
-8.7
13.6
-21.3
-15.3
-10.9
1.9
3.4
2.1
1.3
-1.8
-4.3
-2.3
-3.0
0.7
-2.2
0.9
-4.5
-3.2
-2.4
-0.8
-1.2
-3.1
-2.7
-2.0
-0.7
-0.3
0.8
-9.3
-6.9
-3.5
-3.3
-2.2
0.0
1.7
3.8
-2.1
-2.3
1.4
5.3
4.6
1.5
3.0
0.5
8.1
6.6
3.9
2.7
1.2
2.2
-10.6
-7.7
-6.5
-1.3
-2.7
-10.6
-10.2
-6.9
-3.3
0.4
0.3
-4.6
-2.1
-5.2
2.8
-2.7
-10.3
-7.8
-9.8
2.1
-2.4
1.2
-7.7
-4.1
-3.5
-0.6
-3.7
-3.4
-2.7
-4.3
1.7
-0.6
3.6
43
529.6
514.0
513.3
511.1
507.4
487.2
442.0
44
45
46
182.0
103.4
101.4
183.4
100.0
104.7
178.9
96.7
106.1
189.0
101.8
104.2
182.9
102.9
103.9
175.0
102.7
98.2
153.5
96.0
107.3
Addenda:
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investment.
2007
II
Motor vehicle output......
New motor vehicles..............
Autos................................
Light trucks (including
utility vehicles)..............
Net purchases of used autos
and used light trucks........
Used autos.......................
Used light trucks (including
utility vehicles)..............
2006
II
Final sales of motor vehicles to
domestic purchasers.............
Private fixed investment in new
autos and new light trucks....
Domestic output of new autos2
Sales of imported new autos 3
1. Consists of used light trucks only.
2. Consists of final sales and change in private inventories of new autos assembled in the United States.
3. Consists of personal consumption expenditures, private fixed investment, and gross government investment.
Note. Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 currentdollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses
weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is
the difference between the first line and the sum of the most detailed lines, excluding the lines in the addenda.
D -4 6
N ovem ber
B .
N I P A - R e la te d
2008
T a b le
Table B.l presents the most recent estimates of personal income and its components and the disposition of
personal income. These estimates were released on October 31, 2008.
Table B.1 Personal Income and Its Disposition
[Billions of dollars; monthly estimates seasonally adjusted at annual rates]
2007
2006
Sept.
Aug.
Personal Income.....................................................................
2008
2007
Oct.
Nov.
Dec.
Jan.
Feb.
March
April
May
June
Julyr
Aug.r
Sept. p
10,993.9 11,663.2 11,726.7 11,789.2 11,821.0 11,871.3 11,924.0 11,930.0 11,952.4 11,999.0 12,033.6 12,258.4 12,274.6 12,181.9 12,226.7 12,251.2
7,903.9
6,434.0
5,344.5
1,211.7
745.6
4,132.8
1,042.8
3,090.0
1,089.4
1,460.8
7,886.7
6,420.0
5,333.5
1,210.2
745.6
4,123.2
1,039.9
3,083.3
1,086.6
1,466.7
996.6
464.2
998.8
467.9
1,068.7
47.6
1,021.2
1,055.2
48.1
1,007.1
Compensation of employees, received..............................
Wage and salary disbursements.......................................
Private industries...........................................................
Goods-producing industries..........................................
Manufacturing............................................................
Service-producing industries.........................................
Trade, transportation, and utilities..............................
Other services-producing industries...........................
Government...................................................................
7,432.6
6,027.2
5,004.2
1,167.2
731.2
3,837.1
986.7
2,850.4
1,023.0
7,818.6
6,362.0
5,286.7
1,205.4
746.0
4,081.3
1,035.2
3,046.1
1,075.2
7,829.9
6,369.1
5,287.8
1,201.7
741.6
4,086.1
1,032.3
3,053.9
1,081.2
Supplements to wages and salaries...................................
Employer contributions for employee pension and
insurance funds.........................................................
Employer contributions for government social insurance
1,405.3
1,456.6
956.8
448.5
991.9
464.7
Proprietors’ income with IVA and CCAdj............................
Farm..............................................................................
Nonfarm.........................................................................
1,014.7
16.2
998.6
1,056.2
44.0
1,012.2
7,973.9
6,493.1
5,398.0
1,220.2
751.0
4,177.7
1,054.9
3,122.8
1,095.1
1,469.9
7,945.2
6,469.4
5,377.8
1,222.6
754.0
4,155.2
1,047.2
3,108.0
1,091.6
1,475.7
1,480.8
1,489.3
1,492.3
1,002.0
467.8
1,005.8
469.9
1,009.9
470.9
1,014.0
475.2
1,016.2
476.1
1,068.0
47.0
1,021.0
1,079.0
47.1
1,032.0
1,074.5
41.7
1,032.8
1,069.1
42.1
1,027.0
7,984.6
6,495.4
5,389.7
1,216.0
747.9
4,173.6
1,049.8
3,123.8
1,105.7
8,005.2
6,513.0
5,402.9
1,215.9
747.2
4,187.0
1,047.4
3,139.6
1,110.1
8,039.4
6,545.7
5,432.2
1,221.2
750.0
4,211.0
1,053.9
3,157.1
1,113.4
8,073.5
6,570.3
5,446.7
1,216.4
748.7
4,230.3
1,048.2
3,182.1
1,123.6
1,493.7
8,049.3
6,549.9
5,431.8
1,214.2
747.2
4,217.6
1,049.1
3,168.5
1,118.1
1,499.4
8,092.5
6,585.7
5,457.4
1,218.3
749.6
4,239.0
1,050.6
3,188.4
1,128.4
8,112.6
6,602.7
5,468.9
1,221.6
751.0
4,247.3
1,049.8
3,197.5
1,133.8
8,144.4
6,631.4
5,493.0
1,226.7
749.7
4,266.3
1,052.2
3,214.1
1,138.4
1,015.7
478.0
1,021.5
477.9
1,503.2
1,506.8
1,509.9
1,513.0
1,514.2
1,024.4
478.8
1,027.4
479.4
1,029.8
480.1
1,031.3
481.7
1,032.6
481.6
1,071.4
41.0
1,030.4
1,076.1
38.4
1,037.7
1,083.5
36.1
1,047.4
1,088.3
34.5
1,053.8
1,077.5
31.2
1,046.3
8,149.8
6,635.6
5,493.3
1,222.7
747.1
4,270.6
1,051.9
3,218.7
1,142.4
Rental income of persons with CCAdj................................
44.3
40.0
41.6
40.6
39.9
38.8
1,074.3
47.3
1,027.0
37.2
38.1
38.8
40.5
1,071.2
39.4
1,031.9
49.1
58.3
68.3
70.7
73.1
1,074.1
27.7
1,046.4
49.1
Personal income receipts on assets..................................
Personal interest income...............................................
Personal dividend income..............................................
1,824.8
1,125.4
699.4
2,000.1
1,214.3
785.8
2,031.0
1,236.2
794.7
2,049.0
1,248.1
800.8
2,052.9
1,246.0
807.0
2,056.3
1,242.9
813.4
2,059.4
1,239.4
820.0
2,056.4
1,232.0
824.4
2,054.2
1,224.6
829.6
2,051.7
1,217.2
834.5
2,051.8
1,213.0
838.8
2,052.3
1,208.7
843.6
2,052.8
1,204.5
848.3
2,061.6
1,218.4
843.2
2,070.5
1,232.3
838.2
2,079.6
1,246.2
833.4
Personal current transfer receipts......................................
Government social benefits to persons.........................
Old-age, survivors, disability, and health insurance
benefits..................................................................
Government unemployment insurance benefits.........
Other.........................................................................
Other current transfer receipts, from business (net).......
Less:Contributions for government social insurance..........
1,603.0
1,578.1
1,713.3
1,681.4
1,720.0
1,687.4
1,729.0
1,696.2
1,728.1
1,695.1
1,727.9
1,694.9
1,757.3
1,724.2
1,766.3
1,734.2
1,776.6
1,744.3
1,791.3
1,758.9
1,807.5
1,775.1
1,995.3
1,962.9
1,976.0
1,943.5
1,848.8
1,816.3
1,864.4
1,831.8
1,901.7
1,842.2
938.9
29.9
609.3
24.9
925.5
999.4
32.3
649.6
31.9
965.1
1,011.2
29.7
646.5
32.6
964.4
1,011.7
34.5
650.1
32.8
971.3
1,006.6
33.1
655.5
32.9
971.8
1,002.8
32.8
659.2
33.1
975.9
1,019.3
36.9
667.9
33.2
978.1
1,024.1
37.0
673.1
32.1
989.8
1,030.6
38.2
675.5
32.3
991.5
1,042.5
39.3
677.1
32.4
995.3
1,041.0
40.6
693.5
32.4
995.2
1,051.8
41.5
869.6
32.4
997.2
1,057.0
42.0
844.5
32.4
998.5
1,067.4
47.6
701.4
32.5
1,000.1
1,067.5
62.5
701.8
32.6
1,003.3
1,072.0
66.1
704.0
59.5
1,003.2
Less: Personal current taxes...............................................
1,353.2
1,492.8
1,499.2
1,509.6
1,514.0
1,521.9
1,525.7
1,530.6
1,534.1
1,540.2
1,533.6
1,156.2
1,372.4
1,386.3
1,538.7
1,537.6
Equals: Disposable personal income................................
9,640.7 10,170.5 10,227.5 10,279.5 10,306.9 10,349.4 10,398.3 10,399.4 10,418.3 10,458.8 10,500.0 11,102.1 10,902.2 10,795.6 10,687.9 10,713.6
Less: Personal outlays..........................................................
9,570.0 10,113.1 10,182.4 10,219.3 10,236.0 10,336.2 10,355.4 10,393.1 10,385.2 10,436.3 10,474.2 10,544.3 10,595.9 10,599.4 10,605.4 10,573.4
Personal consumption expenditures..................................
Durable goods....................
Nondurable goods..............
Services..............................
Personal interest payments1..............................................
Personal current transfer payments...................................
To government...............................................................
To the rest of the world (net)..........................................
9,207.2
1,052.1
2,685.2
5,469.9
235.4
127.4
76.2
51.1
9,710.2
1,082.8
2,833.0
5,794.4
265.4
137.5
81.2
56.3
9,766.3
1,091.0
2,829.8
5,845.5
278.0
138.1
81.8
56.3
9,799.7
1,092.6
2,855.3
5,851.8
281.3
138.4
82.1
56.3
9,817.1
1,090.3
2,860.8
5,866.0
279.2
139.6
82.3
57.3
9,919.6
1,084.8
2,924.1
5,910.7
276.8
139.8
82.5
57.3
9,941.4
1,074.0
2,933.8
5,933.7
274.0
139.9
82.6
57.3
9,984.6
1,072.5
2,946.9
5,965.3
267.9
140.6
82.7
57.9
Equals: Personal saving.......................................................
Personal saving as percentage of disposable personal
income..................................................................................
70.7
57.4
45.1
60.2
71.0
13.2
42.9
6.3
33.0
22.5
25.8
557.8
306.2
196.2
82.5
140.3
0.7
0.6
0.4
0.6
0.7
0.1
0.4
0.1
0.3
0.2
0.2
5.0
2.8
1.8
0.8
1.3
9,982.7 10,039.7 10,073.5 10,144.2 10,196.4 10,198.9 10,203.4 10,169.8
1,075.4 1,065.3 1,063.2 1,065.5 1,049.1
1,017.1
1,034.8 1,003.0
2,935.1 2,970.2 2,990.4 3,025.4 3,063.0 3,068.8 3,050.3 3,032.0
5,972.2 6,004.2 6,019.9 6,053.3 6,084.2 6,113.0 6,118.3 6,134.8
261.7
254.7
255.6
253.8
252.9
256.2
254.0
255.1
146.7
147.4
140.8
141.0
146.1
146.4
146.9
146.5
83.4
83.1
83.7
84.4
82.9
84.0
84.8
85.3
57.9
62.7
57.9
62.7
62.7
62.1
62.1
62.1
Addenda:
Disposable personal income:
Billions of chained (2000) dollars2................................
Per capita:
Current dollars...............................................................
Chained (2000 dollars)..................................................
Population (midperiod, thousands)3..................................
8,407.0
8,644.0
8,678.2
8,690.3
8,688.4
8,672.0
8,689.0
8,662.8
8,666.9
8,673.8
8,687.5
9,144.0
8,911.3
8,770.8
8,681.5
8,693.2
32,222
28,098
299,199
33,667
28,614
302,087
33,816
28,693
302,450
33,956
28,707
302,728
34,018
28,676
302,989
34,131
28,599
303,228
34,266
28,633
303,457
34,246
28,527
303,670
34,286
28,522
303,866
34,396
28,526
304,068
34,507
28,550
304,287
36,458
30,028
304,521
35,771
29,239
304,775
35,391
28,753
305,039
35,007
28,435
305,311
35,059
28,447
305,590
Personal consumption expenditures:
Billions of chained (2000) dollars...................................
Durable goods...............................................................
Nondurable goods.........................................................
Services.........................................................................
Implicit price deflator, 2000-100....................................
8,029.0
1,185.1
2,335.3
4,529.9
114.680
8,252.8
1,242.4
2,392.6
4,646.2
117.660
8,286.8
1,255.3
2,390.1
4,671.5
117.853
8,284.6
1,259.9
2,398.3
4,658.6
118.288
8,275.6
1,256.3
2,394.9
4,655.9
118.628
8,311.8
1,252.5
2,405.2
4,682.9
119.343
8,307.2
1,243.0
2,400.4
4,689.6
119.672
8,317.3
1,239.7
2,395.4
4,706.2
120.047
8,304.6
1,241.8
2,388.3
4,699.6
120.207
8,326.2
1,229.5
2,410.1
4,707.3
120.579
8,334.6
1,230.8
2,419.0
4,705.7
120.864
8,355.1
1,237.1
2,427.3
4,712.8
121.414
8,334.4
1,217.0
2,415.9
4,717.9
122.341
8,286.0
1,179.0
2,392.1
4,720.6
123.087
8,287.9
1,201.6
2,384.6
4,714.7
123.112
8,251.9
1,166.9
2,365.5
4,722.5
123.242
Percent change from preceding period:
Personal income, current dollars.......................................
7.1
6.1
0.4
0.5
0.3
0.4
0.4
0.1
0.2
0.4
0.3
1.9
0.1
-0.8
0.4
0.2
Disposable personal income:
Current dollars...........................................................
Chained (2000) dollars..............................................
6.4
3.5
5.5
2.8
0.5
0.4
0.5
0.1
0.3
0.0
0.4
-0.2
0.5
0.2
0.0
-0.3
0.2
0.0
0.4
0.1
0.4
0.2
5.7
5.3
-1.8
-2.5
-1.0
-1.6
-1.0
-1.0
0.2
0.1
Personal consumption expenditures:
Current dollars...........................................................
Chained (2000) dollars..............................................
5.9
3.0
5.5
2.8
0.4
0.3
0.3
0.0
0.2
-0.1
1.0
0.4
0.2
-0.1
0.4
0.1
0.0
-0.2
0.6
0.3
0.3
0.1
0.7
0.2
0.5
-0.2
0.0
-0.6
0.0
0.0
-0.3
-0.4
p Preliminary.
r Revised.
CCAdj Capital consumption adjustment.
IVA Inventory valuation adjustment.
1. Consists of nonmortgage interest paid by households.
2. Equals disposable personal income deflated by the implicit price deflator for personal consumption expenditures,
3. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized
population. The monthly estimate is the average of estimates
for the first of the month and the first of the following month; the annual estimate is the average of the monthly estimates.
Source: U.S. Bureau of Economic Analysis.
D -4 7
c.
Thi
Ma;
indi
a l
M
e a s u r e s
erived from the “Selected NIPA Tables” that are published in this issue and from the “GDP and Other
eries” tables that were published in the August 2008 issue. (The changes in prices are calculated from
sed to three decimal places.)
Table C.1. GDP and Other Major NIPA Aggregates—Continues
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (2000) dollars
Ye
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Percent change from
preceding period
Gross
domestic
product
Chain-type price indexes
[2000=100]
Final sales of
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
[2000=100]
Gross
domestic
product
Gross
national
product
Percent change from preceding period
Chain-type price index
Implicit price deflators
Gross
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
national
product
1959
2,441.3
2,442.7
2,457.4
7.1
6.2
20.754
20.365
20.751
20.727
1.2
1.2
1.2
1.2
1960
1961
1962
1963
1964
2,501.8
2,560.0
2,715.2
2,834.0
2,998.6
2,506.8
2,566.8
2,708.5
2,830.3
2,999.9
2,519.4
2,579.3
2,736.9
2,857.2
3,023.6
2.5
2.3
6.1
4.4
5.8
2.6
2.4
5.5
4.5
6.0
21.044
21.281
21.572
21.801
22.134
20.646
20.865
21.139
21.385
21.725
21.041
21.278
21.569
21.798
22.131
21.018
21.255
21.547
21.777
22.111
1.4
1.1
1.4
1.1
1.5
1.4
1.1
1.3
1.2
1.6
1.4
1.1
1.4
1.1
1.5
1.4
1.1
1.4
1.1
1.5
1965
1966
1967
1968
1969
3,191.1
3,399.1
3,484.6
3,652.7
3,765.4
3,173.8
3,364.8
3,467.6
3,640.3
3,753.7
3,217.3
3,423.7
3,510.1
3,680.0
3,792.0
6.4
6.5
2.5
4.8
3.1
5.8
6.0
3.1
5.0
3.1
22.538
23.180
23.897
24.916
26.153
22.102
22.724
23.389
24.380
25.580
22.535
23.176
23.893
24.913
26.149
22.516
23.158
23.874
24.893
26.127
1.8
2.8
3.1
4.3
5.0
1.7
2.8
2.9
4.2
4.9
1.8
2.8
3.1
4.3
5.0
1.8
2.9
3.1
4.3
5.0
1970
1971
1972
1973
1974
3,771.9
3,898.6
4,105.0
4,341.5
4,319.6
3,787.7
3,893.4
4,098.6
4,315.9
4,305.5
3,798.2
3,927.8
4,136.2
4,383.6
4,367.5
0.2
3.4
5.3
5.8
-0.5
0.9
2.8
5.3
5.3
-0.2
27.538
28.916
30.171
31.854
34.721
26.964
28.351
29.619
31.343
34.546
27.534
28.911
30.166
31.849
34.725
27.512
28.889
30.145
31.830
34.699
5.3
5.0
4.3
5.6
9.0
5.4
5.1
4.5
5.8
10.2
5.3
5.0
4.3
5.6
9.0
5.3
5.0
4.3
5.6
9.0
1975
1976
1977
1978
1979
4,311.2
4,540.9
4,750.5
5,015.0
5,173.4
4,352.5
4,522.3
4,721.6
4,981.6
5,161.2
4,348.4
4,585.3
4,800.3
5,064.4
5,240.1
-0.2
5.3
4.6
5.6
3.2
1.1
3.9
4.4
5.5
3.6
38.007
40.202
42.758
45.762
49.553
37.761
39.938
42.634
45.663
49.669
38.002
40.196
42.752
45.757
49.548
37.976
40.175
42.731
45.737
49.527
9.5
5.8
6.4
7.0
8.3
9.3
5.8
6.8
7.1
8.8
9.4
5.8
6.4
7.0
8.3
9.4
5.8
6.4
7.0
8.3
1980
1981
1982
1983
1984
5,161.7
5,291.7
5,189.3
5,423.8
5,813.6
5,196.7
5,265.1
5,233.4
5,454.0
5,739.2
5,227.6
5,349.7
5,249.7
5,482.5
5,869.3
-0.2
2.5
-1.9
4.5
7.2
0.7
1.3
-0.6
4.2
5.2
54.062
59.128
62.738
65.214
67.664
54.876
59.896
63.296
65.515
67.822
54.043
59.119
62.726
65.207
67.655
54.015
59.095
62.699
65.184
67.631
9.1
9.4
6.1
3.9
3.8
10.5
9.1
5.7
3.5
3.5
9.1
9.4
6.1
4.0
3.8
9.1
9.4
6.1
4.0
3.8
1985
1986
1987
1988
1989
6,053.7
6,263.6
6,475.1
6,742.7
6,981.4
6,042.1
6,271.8
6,457.2
6,734.5
6,962.2
6,093.4
6,290.6
6,500.9
6,775.2
7,015.4
4.1
3.5
3.4
4.1
3.5
5.3
3.8
3.0
4.3
3.4
69.724
71.269
73.204
75.706
78.569
69.760
71.338
73.527
76.043
78.934
69.713
71.250
73.196
75.694
78.556
69.695
71.227
73.181
75.679
78.549
3.0
2.2
2.7
3.4
3.8
2.9
2.3
3.1
3.4
3.8
3.0
2.2
2.7
3.4
3.8
3.1
2.2
2.7
3.4
3.8
1990
1991
1992
1993
1994
7,112.5
7,100.5
7,336.6
7,532.7
7,835.5
7,108.5
7,115.0
7,331.1
7,522.3
7,777.8
7,155.2
7,136.8
7,371.8
7,568.6
7,864.2
1.9
-0.2
3.3
2.7
4.0
2.1
0.1
3.0
2.6
3.4
81.614
84.457
86.402
88.390
90.265
82.144
84.836
86.828
88.730
90.583
81.590
84.444
86.385
88.381
90.259
81.589
84.440
86.375
88.382
90.262
3.9
3.5
2.3
2.3
2.1
4.1
3.3
2.3
2.2
2.1
3.9
3.5
2.3
2.3
2.1
3.9
3.5
2.3
2.3
2.1
1995
1996
1997
1998
1999
8,031.7
8,328.9
8,703.5
9,066.9
9,470.3
8,010.2
8,306.5
8,636.6
8,997.6
9,404.0
8,069.8
8,365.3
8,737.5
9,088.7
9,504.7
2.5
3.7
4.5
4.2
4.5
3.0
3.7
4.0
4.2
4.5
92.115
93.859
95.415
96.475
97.868
92.483
94.145
95.440
96.060
97.556
92.106
93.852
95.414
96.472
97.868
92.114
93.863
95.420
96.475
97.869
2.0
1.9
1.7
1.1
1.4
2.1
1.8
1.4
0.6
1.6
2.0
1.9
1.7
1.1
1.4
2.1
1.9
1.7
1.1
1.4
2000
2001
2002
2003
2004
9,817.0
9,890.7
10,048.8
10,301.0
10,675.8
9,760.5
9,920.9
10,036.5
10,285.1
10,619.8
9,855.9
9,933.6
10,079.0
10,355.3
10,746.0
3.7
0.8
1.6
2.5
3.6
3.8
1.6
1.2
2.5
3.3
100.000
102.402
104.193
106.409
109.462
100.000
101.994
103.583
105.966
109.235
100.000
102.399
104.187
106.404
109.462
100.000
102.396
104.179
106.396
109.455
2.2
2.4
1.7
2.1
2.9
2.5
2.0
1.6
2.3
3.1
2.2
2.4
1.7
2.1
2.9
2.2
2.4
1.7
2.1
2.9
2005
2006
10,989.5
11,294.8
11,523.9
10,947.3
11,249.3
11,523.4
11,072.1
11,362.3
11,609.8
2.9
2.8
2.0
3.1
2.8
2.4
113.039
116.676
119.819
113.263
117.066
120.294
113.034
116.676
119.816
113.031
116.672
119.813
3.3
3.2
2.7
3.7
3.4
2.8
3.3
3.2
2.7
3.3
3.2
2.7
National Data
D -4 8
N ovem ber
2008
Table C.1. GDP and Other Major NIPA Aggregates—Continues
[Q uarterly estim ates are seasonally adjusted at annual rates]
Billions of chained (2000) dollars
Year and quarter
Percent change from
preceding period
Chain-type price indexes
[2000=100]
Implicit price deflators
[2000=100]
Percent change from preceding period
Chain-type price index
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Gross
domestic
product
Final sales of
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
domestic
product
Gross
national
product
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
Gross
domestic
product
Gross
national
product
1959:
I ...................
II..................
II I
I V
2,392.9
2.455.8
2.453.9
2,462.6
2,396.9
2.440.3
2,471.1
2.462.3
2,408.1
2,471.1
2,470.3
2,479.8
7.9
10.9
-0.3
1.4
8.1
7.4
5.1
-1.4
20.680
20.711
20.770
20.853
20.296
20.326
20.379
20.460
20.704
20.704
20.753
20.840
20.680
20.681
20.730
20.817
1.8
0.6
1.1
1.6
2.1
0.6
1.0
1.6
0.9
0.0
1.0
1.7
0.9
0.0
1.0
1.7
1960:
I ...................
II..................
Ill.................
IV.................
2,517.4
2,504.8
2,508.7
2,476.2
2,488.1
2,511.5
2,507.9
2,519.8
2,534.1
2,521.8
2,526.5
2,494.9
9.2
-2.0
0.6
-5.1
4.3
3.8
-0.6
1.9
20.903
20.995
21.093
21.186
20.505
20.598
20.694
20.787
20.931
21.004
21.084
21.146
20.909
20.982
21.061
21.122
1.0
1.8
1.9
1.8
0.9
1.8
1.9
1.8
1.8
1.4
1.5
1.2
1.8
1.4
1.5
1.2
1961:
I ...................
II..................
Ill.................
IV.................
2,491.2
2.538.0
2.579.1
2,631.8
2.522.0
2.549.1
2,568.9
2,627.3
2,510.8
2,556.7
2,598.3
2,651.4
2.4
7.7
6.6
8.4
0.4
4.4
3.1
9.4
21.210
21.249
21.305
21.360
20.807
20.831
20.887
20.933
21.192
21.237
21.303
21.375
21.169
21.214
21.280
21.352
0.5
0.7
1.1
1.0
0.4
0.5
1.1
0.9
0.9
0.9
1.2
1.4
0.9
0.9
1.3
1.4
1962:
I ...................
II..................
Ill.................
IV.................
2,679.1
2,708.4
2,733.3
2,740.0
2.659.5
2.704.5
2.725.6
2,744.5
2,698.6
2,729.7
2,754.8
2,764.5
7.4
4.4
3.7
1.0
5.0
6.9
3.2
2.8
21.482
21.538
21.596
21.671
21.041
21.109
21.163
21.241
21.501
21.533
21.585
21.653
21.479
21.511
21.564
21.632
2.3
1.0
1.1
1.4
2.1
1.3
1.0
1.5
2.4
0.6
1.0
1.3
2.4
0.6
1.0
1.3
1963:
I ...................
II..................
II I
I V
2,775.9
2,810.6
2,863.5
2,885.8
2,762.8
2,809.7
2.859.4
2.889.5
2,799.4
2,833.3
2,886.6
2,909.6
5.3
5.1
7.7
3.1
2.7
7.0
7.3
4.3
21.732
21.754
21.794
21.923
21.308
21.335
21.382
21.514
21.702
21.745
21.788
21.951
21.681
21.724
21.768
21.930
1.1
0.4
0.7
2.4
1.3
0.5
0.9
2.5
0.9
0.8
0.8
3.0
0.9
0.8
0.8
3.0
1964:
I ...................
II..................
I ll.................
IV.................
2,950.5
2,984.8
3.025.5
3.033.6
2,952.7
2,988.1
3,025.4
3,033.2
2,976.3
3,009.6
3,051.1
3,057.5
9.3
4.7
5.6
1.1
9.0
4.9
5.1
1.0
22.001
22.073
22.180
22.282
21.596
21.674
21.769
21.860
22.016
22.073
22.160
22.270
21.995
22.053
22.140
22.250
1.4
1.3
2.0
1.9
1.5
1.5
1.8
1.7
1.2
1.0
1.6
2.0
1.2
1.1
1.6
2.0
1965:
I ...................
II..................
Ill.................
IV.................
3,108.2
3,150.2
3,214.1
3,291.8
3,081.0
3,136.6
3,195.5
3,282.4
3,135.2
3,178.0
3,240.0
3,315.7
10.2
5.5
8.4
10.0
6.5
7.4
7.7
11.3
22.380
22.479
22.578
22.717
21.940
22.037
22.140
22.292
22.383
22.480
22.563
22.707
22.363
22.460
22.544
22.688
1.8
1.8
1.8
2.5
1.5
1.8
1.9
2.8
2.0
1.7
1.5
2.6
2.0
1.7
1.5
2.6
1966:
I ...................
II..................
Ill.................
IV.................
3,372.3
3,384.0
3,406.3
3,433.7
3,337.0
3,352.4
3,380.2
3,389.6
3,396.9
3,408.7
3,430.4
3,458.9
10.1
1.4
2.7
3.3
6.8
1.9
3.4
1.1
22.857
23.071
23.293
23.498
22.416
22.629
22.831
23.018
22.855
23.048
23.291
23.505
22.837
23.029
23.272
23.486
2.5
3.8
3.9
3.6
2.2
3.9
3.6
3.3
2.6
3.4
4.3
3.7
2.7
3.4
4.3
3.7
1967:
I ...................
II..................
II I
I V
3,464.1
3,464.3
3,491.8
3,518.2
3,424.2
3,460.2
3,477.8
3,508.2
3,489.0
3,488.5
3,518.5
3,544.1
3.6
0.0
3.2
3.1
4.1
4.3
2.0
3.5
23.611
23.759
23.977
24.242
23.109
23.254
23.469
23.723
23.612
23.741
23.975
24.241
23.593
23.722
23.955
24.221
1.9
2.5
3.7
4.5
1.6
2.5
3.7
4.4
1.8
2.2
4.0
4.5
1.8
2.2
4.0
4.5
1968:
I ...................
II..................
Ill.................
IV.................
3,590.7
3,651.6
3,676.5
3,692.0
3,581.7
3,617.7
3,669.4
3,692.2
3,617.2
3,678.7
3,704.4
3,719.6
8.5
7.0
2.7
1.7
8.6
4.1
5.8
2.5
24.503
24.777
25.017
25.367
23.979
24.230
24.483
24.826
24.506
24.763
25.008
25.362
24.487
24.743
24.988
25.342
4.4
4.5
3.9
5.7
4.4
4.3
4.2
5.7
4.4
4.3
4.0
5.8
4.5
4.2
4.0
5.8
1969:
I ...................
II..................
Ill.................
IV.................
3,750.2
3,760.9
3.784.2
3.766.3
3.730.5
3.748.6
3,767.6
3,768.1
3,778.0
3,787.7
3,810.0
3,792.1
6.5
1.1
2.5
-1.9
4.2
2.0
2.0
0.1
25.622
25.966
26.345
26.678
25.062
25.402
25.764
26.093
25.626
25.958
26.332
26.675
25.605
25.937
26.310
26.652
4.1
5.5
6.0
5.2
3.9
5.5
5.8
5.2
4.2
5.3
5.9
5.3
4.2
5.3
5.9
5.3
1970:
I ...................
II..................
Ill.................
IV.................
3,760.0
3,767.1
3,800.5
3,759.8
3.778.0
3.771.0
3,804.6
3,797.2
3,786.3
3,794.3
3,827.4
3,784.5
-0.7
0.8
3.6
-4.2
1.1
-0.7
3.6
-0.8
27.051
27.437
27.655
28.009
26.474
26.841
27.093
27.449
27.056
27.428
27.647
28.004
27.034
27.406
27.624
27.982
5.7
5.8
3.2
5.2
6.0
5.7
3.8
5.4
5.8
5.6
3.2
5.3
5.9
5.6
3.2
5.3
1971:
I ...................
II..................
Ill.................
IV.................
3,864.1
3,885.9
3,916.7
3,927.9
3,844.7
3,871.3
3,905.2
3,952.5
3,893.1
3,916.4
3,944.4
3,957.1
11.6
2.3
3.2
1.1
5.1
2.8
3.5
4.9
28.429
28.809
29.097
29.329
27.854
28.230
28.539
28.779
28.425
28.798
29.089
29.322
28.403
28.777
29.069
29.300
6.1
5.5
4.1
3.2
6.0
5.5
4.5
3.4
6.2
5.4
4.1
3.2
6.2
5.4
4.1
3.2
1972:
I ...................
II.................
I ll.................
IV.................
3,997.7
4.092.1
4.131.1
4,198.7
4,006.9
4,073.0
4,109.6
4,204.8
4,028.1
4,122.1
4,163.5
4,231.0
7.3
9.8
3.9
6.7
5.6
6.8
3.6
9.6
29.814
29.989
30.264
30.620
29.234
29.437
29.728
30.078
29.781
29.959
30.250
30.652
29.759
29.937
30.229
30.631
6.8
2.4
3.7
4.8
6.5
2.8
4.0
4.8
6.4
2.4
3.9
5.4
6.4
2.4
4.0
5.4
1973:
1 ...................
II..................
Ill.................
IV.................
4,305.3
4,355.1
4,331.9
4,373.3
4,296.4
4,317.4
4,322.6
4,327.3
4,342.5
4,394.6
4,377.8
4,419.5
10.6
4.7
-2.1
3.9
9.0
2.0
0.5
0.4
31.025
31.542
32.147
32.703
30.478
31.052
31.625
32.218
31.020
31.500
32.114
32.750
31.000
31.481
32.095
32.731
5.4
6.8
7.9
7.1
5.4
7.7
7.6
7.7
4.9
6.3
8.0
8.2
4.9
6.4
8.0
8.2
1974:
1 ...................
II..................
Ill.................
IV.................
4,335.4
4,347.9
4.305.8
4.288.9
4,322.7
4,328.7
4,316.3
4,254.5
4,389.4
4,399.1
4,352.4
4,329.3
-3.4
1.2
-3.8
-1.6
-0.4
0.6
-1.1
-5.6
33.371
34.110
35.164
36.240
33.068
34.007
35.045
36.062
33.376
34.162
35.166
36.218
33.354
34.137
35.141
36.188
8.4
9.2
12.9
12.8
11.0
11.9
12.8
12.1
7.9
9.8
12.3
12.5
7.8
9.7
12.3
12.5
1975:
1 ...................
4.237.6
4.268.6
4,340.9
4,397.8
4,287.8
4,331.0
4,370.1
4,421.1
4,271.5
4,302.8
4,377.7
4,441.7
-4.7
3.0
6.9
5.4
3.2
4.1
3.7
4.8
37.077
37.622
38.324
39.005
36.849
37.412
38.060
38.724
37.050
37.614
38.313
38.987
37.022
37.586
38.288
38.961
9.6
6.0
9.5
6.2
7.6
9.5
6.2
7 .7
9.0
6.3
7.1
7.3
7 .2
7 .2
7 .2
II..................
I ll.................
IV.................
7 .7
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -4 9
Table C.1. GDP and Other Major NIPA Aggregates—Continues
[Quarterly estimates are seasonally adjusted at annual rates]
Billions of chained (2000) dollars
Year and quarter
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Percent change from
preceding period
Gross
domestic
product
Chain-type price indexes
[2000=100]
Final sales of
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
[2000=100]
Gross
domestic
product
Gross
national
product
Percent change from preceding period
Chain-type jrice index
Implicit pric deflators
Gross
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
national
product
1976:
I ...................
II..................
Ill.................
IV.................
4,496.8
4,530.3
4,552.0
4,584.6
4,482.1
4,496.3
4,523.7
4,587.1
4,539.3
4,574.6
4,596.7
4,630.4
9.3
3.0
1.9
2.9
5.6
1.3
2.5
5.7
39.443
39.866
40.405
41.096
39.163
39.595
40.168
40.828
39.418
39.840
40.385
41.122
39.396
39.818
40.365
41.101
4.6
4.4
5.5
7.0
4.6
4.5
5.9
6.7
4.5
4.4
5.6
7.5
4.5
4.4
5.6
7.5
1977:
I ...................
II..................
Ill.................
IV.................
4,640.0
4,731.1
4,815.8
4,815.3
4,631.5
4,705.5
4,755.2
4,794.1
4,692.2
4,782.3
4,866.4
4,860.4
4.9
8.1
7.4
0.0
3.9
6.5
4.3
3.3
41.781
42.452
43.036
43.762
41.591
42.306
42.950
43.688
41.796
42.401
42.917
43.852
41.773
42.381
42.899
43.831
6.8
6.6
5.6
6.9
7.7
7.1
6.2
7.1
6.7
5.9
5.0
9.0
6.7
6.0
5.0
9.0
1978:
I ...................
II..................
Ill.................
IV.................
4,830.8
5,021.2
5,070.7
5,137.4
4,799.5
4,989.9
5,036.0
5,100.6
4,882.9
5,064.7
5,118.2
5,191.9
1.3
16.7
4.0
5.4
0.5
16.8
3.7
5.2
44.493
45.350
46.133
47.074
44.410
45.266
46.048
46.928
44.505
45.321
46.072
47.047
44.483
45.301
46.052
47.027
6.9
7.9
7,1
8.4
6.8
7.9
7.1
7.9
6.1
7.5
6.8
8.7
6.1
7.6
6.8
8.7
1979:
I ...................
II..................
Ill.................
IV.................
5,147.4
5,152.3
5,189.4
5,204.7
5,117.8
5,117.9
5,192.3
5,216.9
5,203.1
5,214.9
5,263.8
5,278.6
0.8
0.4
2.9
1.2
1.4
0.0
5.9
1.9
47.929
49.092
50.102
51.088
47.828
49.044
50.289
51.515
47.876
49.058
50.115
51.117
47.857
49.034
50.093
51.093
7.5
10.1
8.5
8.1
7.9
10.6
10.5
10.1
7.2
10.2
8.9
8.2
7.2
10.2
8.9
8.2
1980:
I ...................
II..................
Ill.................
IV.................
5,221.3
5,115.9
5,107.4
5,202.1
5,227.3
5,126.2
5,193.5
5,239.7
5,296.5
5,185.5
5,173.0
5,255.6
1.3
-7.8
-0.7
7.6
0.8
-7.5
5.4
3.6
52.209
53.362
54.572
56.105
52.930
54.220
55.446
56.907
52.195
53.349
54.560
56.071
52.172
53.324
54.534
56.043
9.1
9.1
9.4
11.7
11.4
10.1
9.4
11.0
8.7
9.1
9.4
11.5
8.7
9.1
9.4
11.5
1981:
I ...................
II..................
Ill.................
IV.................
5,307.5
5,266.1
5,329.8
5,263.4
5,261.7
5,272.8
5,278.5
5,247.4
5,364.5
5,319.8
5,386.8
5,327.3
8.4
-3.1
4.9
-4.9
1.7
0.8
0.4
-2.3
57.566
58.582
59.661
60.704
58.397
59.434
60.355
61.400
57.517
58.598
59.641
60.729
57.492
58.571
59.616
60.706
10.8
7.2
7.6
7.2
10.9
7.3
6.3
7.1
10.7
7.7
7.3
7.5
10.8
7.7
7.3
7.5
1982:
I ...................
II..................
Ill.................
IV.................
5,177.1
5,204.9
5,185.2
5,189.8
5,232.9
5,230.5
5,196.6
5,273.3
5,237.7
5,272.8
5,242.9
5,245.3
-6.4
2.2
-1.5
0.4
-1.1
-0.2
-2.6
6.0
61.563
62.330
63.193
63.866
62.213
62.883
63.717
64.372
61.555
62.302
63.182
63.863
61.530
62.276
63.155
63.837
5.8
5.1
5.7
4.3
5.4
4.4
5.4
4.2
5.6
4.9
5.8
4.4
5.5
4.9
5.8
4.4
1983:
I ..................
II..................
Ill.................
IV.................
5,253.8
5,372.3
5,478.4
5,590.5
5,329.2
5,404.6
5,505.1
5,577.0
5,308.8
5,430.9
5,538.0
5,652.4
5.0
9.3
8.1
8.4
4.3
5.8
7.7
5.3
64.413
64.881
65.542
66.020
64.768
65.213
65.849
66.231
64.388
64.853
65.517
66.012
64.363
64.831
65.495
65.991
3.5
2.9
4.1
2.9
2.5
2.8
4.0
2.3
3.3
2.9
4.2
3.1
3.3
2.9
4.2
3.1
1984:
I ..................
II..................
Ill.................
IV.................
5,699.8
5,797.9
5,854.3
5,902.4
5,614.4
5,717.5
5,770.2
5,854.6
5,757.1
5,855.5
5,911.3
5,953.2
8.1
7.1
3.9
3.3
2.7
7.5
3.7
6.0
66.838
67.439
67.989
68.392
67.052
67.647
68.114
68.476
66.837
67.414
67.953
68.385
66.815
67.392
67.930
68.359
5.0
3.6
3.3
2.4
5.1
3.6
2.8
2.1
5.1
3.5
3.2
2.6
5.1
3.5
3.2
2.6
1985:
I ..................
II..................
Ill.................
IV.................
5,956.9
6,007.8
6,101.7
6,148.6
5,953.0
5,998.5
6,095.8
6,121.2
5,997.4
6,050.8
6,137.4
6,188.2
3.8
3.5
6.4
3.1
6.9
3.1
6.6
1.7
69.180
69.542
69.876
70.299
69.137
69.537
69.907
70.459
69.155
69.550
69.838
70.289
69.127
69.529
69.827
70.276
4.7
2.1
1.9
2.4
3.9
2.3
2.1
3.2
4.6
2.3
1.7
2.6
4.6
2.3
1.7
2.6
1986:
I ...................
II..................
Ill.................
IV.................
6,207.4
6,232.0
6,291.7
6,323.4
6,184.1
6,230.5
6,317.8
6,355.0
6,242.5
6,257.3
6,320.1
6,342.8
3.9
1.6
3.9
2.0
4.2
3.0
5.7
2.4
70.660
71.001
71.455
71.960
70.851
70.985
71.493
72.025
70.652
71.015
71.426
71.893
70.635
70.993
71.401
71.866
2.1
1.9
2.6
2.9
2.2
0.8
2.9
3.0
2.1
2.1
2.3
2.6
2.1
2.0
2.3
2.6
1987:
I ...................
II..................
Ill.................
IV.................
6,365.0
6.435.0
6,493.4
6,606.8
6,344.4
6,431.4
6,510.8
6,542.5
6,386.8
6,461.8
6,519.5
6,635.4
2.7
4.5
3.7
7.2
-0.7
5.6
5.0
2.0
72.514
72.904
73.450
73.948
72.728
73.229
73.819
74.332
72.487
72.882
73.425
73.958
72.465
72.870
73.412
73.944
3.1
2.2
3.0
2.7
4.0
2.8
3.3
2.8
3.3
2.2
3.0
2.9
3.4
2.3
3.0
2,9
1988:
I ..................
II..................
Ill.................
IV.................
6,639.1
6,723.5
6,759.4
6,848.6
6,637.2
6,716.4
6,749.5
6,835.1
6,675.0
6,756.2
6,788.9
6,880.9
2.0
5.2
2.1
5.4
5.9
4.9
2.0
5.2
74.564
75.296
76.178
76.786
74.975
75.706
76.406
77.086
74.587
75.300
76.141
76.712
74.571
75.285
76.124
76.700
3.4
4.0
4.8
3.2
3.5
4.0
3.8
3.6
3.4
3.9
4.5
3.0
3.4
3.9
4.5
3.1
1989:
I ...................
II..................
Ill.................
IV.................
6,918.1
6,963.5
7,013.1
7,030.9
6,873.3
6,933.6
7,015.3
7,026.8
6,950.1
6,993.9
7,046.2
7,071.4
4.1
2.6
2.9
1.0
2.3
3.6
4.8
0.7
77.588
78.342
78.913
79.433
77.937
78.764
79.227
79.807
77.580
78.324
78.879
79.425
77.566
78.316
78.875
79.422
4.2
3.9
2.9
2.7
4.5
4.3
2.4
3.0
4.6
3.9
2.9
2.8
4.6
3.9
2.9
2.8
1990:
I ...................
II..................
Ill.................
IV.................
7,112.1
7,130.3
7,130.8
7,076.9
7,110.6
7,103.8
7,118.3
7,101.3
7,150.0
7,169.9
7,163.9
7,137.1
4.7
1.0
0.0
-3.0
4.9
-0.4
0.8
-1.0
80.389
81.326
82.053
82.689
80.878
81.629
82.531
83.536
80.375
81.311
82.031
82.646
80.376
81.301
82.028
82.652
4.9
4.7
3.6
3.1
5.5
3.8
4.5
5.0
4.9
4.7
3.6
3.0
4.9
4.7
3.6
3.1
1991:
I...................
II..................
Ill.................
IV.................
7,040.8
7,086.5
7,120.7
7,154.1
7,071.5
7,120.2
7,134.6
7,133.8
7,087.0
7,119.1
7,149.3
7,191.8
-2.0
2.6
1.9
1.9
-1.7
2.8
0.8
0.0
83.662
84.194
84.772
85.200
84.197
84.533
85.058
85.556
83.626
84.165
84.762
85.206
83.623
84.164
84.758
85.202
4.8
2.6
2.8
2.0
3.2
1.6
2.5
2.4
4.8
2.6
2.9
2.1
4.8
2.6
2.9
2.1
National Data
D -5 0
N ovem ber
2008
Table C.1. GDP and Other Major NIPA Aggregates—Table Ends
[Q uarterly estim ates are seasonally adjusted at annual rates]
Billions of chained (2000) dollars
Year and quarter
Gross
domestic
product
Final sales of
domestic
product
Gross
national
product
Percent change from
preceding period
Gross
domestic
product
Final sales of
domestic
product
Chain-type price indexes
[2000=100]
Gross
domestic
product
Gross
domestic
purchases
Implicit price deflators
[2000=100]
Gross
domestic
product
Gross
national
product
Percent change from preceding period
Chain-type price index
Implicit price deflators
Gross
domestic
product
Gross
domestic
product
Gross
domestic
purchases
Gross
national
product
1992:
I ...................
II..................
Ill.................
IV.................
7,228.2
7,297.9
7,369.5
7,450.7
7.239.3
7.284.3
7,360.5
7,440.3
7.265.5
7.334.5
7.402.6
7,485.0
4.2
3.9
4.0
4.5
6.0
2.5
4.2
4.4
85.766
86.212
86.587
87.042
86.093
86.588
87.098
87.531
85.721
86.190
86.580
87.029
85.710
86.181
86.567
87.019
2.7
2.1
1.8
2.1
2.5
2.3
2.4
2.0
2.4
2.2
1.8
2.1
2.4
2.2
1.8
2.1
1993:
I ...................
II..................
Ill.................
IV.................
7,459.7
7,497.5
7,536.0
7,637.4
7,431.2
7,483.7
7.540.6
7.633.7
7,502.4
7,532.8
7,577.7
7,661.5
0.5
2.0
2.1
5.5
-0.5
2.9
3.1
5.0
87.729
88.204
88.599
89.030
88.076
88.595
88.916
89.331
87.707
88.190
88.570
89.038
87.705
88.189
88.574
89.048
3.2
2.2
1.8
2.0
2.5
2.4
1.5
1.9
3.2
2.2
1.7
2.1
3.2
2.2
1.8
2.2
1994:
I ...................
II..................
Ill.................
IV.................
7,715.1
7,815.7
7.859.5
7.951.6
7,677.5
7.737.2
7.814.3
7.882.3
7,747.2
7,843.7
7,886.8
7,979.2
4.1
5.3
2.3
4.8
2.3
3.1
4.0
3.5
89.598
89.980
90.525
90.958
89.800
90.271
90.921
91.340
89.578
89.954
90.530
90.952
89.583
89.963
90.527
90.953
2.6
1.7
2.4
1.9
2.1
2.1
2.9
1.9
2.4
1.7
2.6
1.9
2.4
1.7
2.5
1.9
1995:
I ...................
II..................
Ill.................
IV.................
7,973.7
7.988.0
8.053.1
8,112.0
7.918.7
7,962.3
8,055.0
8.104.8
8,014.3
8.032.0
8.081.0
8,152.0
1.1
0.7
3.3
3.0
1.9
2.2
4.7
2.5
91.554
91.891
92.281
92.734
91.877
92.329
92.662
93.065
91.530
91.859
92.289
92.733
91.534
91.868
92.299
92.743
2.6
1.5
1.7
2.0
2.4
2.0
1.5
1.8
2.6
1.4
1.9
1.9
2.6
1.5
1.9
1.9
1996:
I ...................
II..................
I ll.................
IV.................
8,169.2
8,303.1
8,372.7
8,470.6
8,175.4
8.285.8
8.319.9
8,444.7
8,213.3
8,337.6
8,402.7
8,507.6
2.9
6.7
3.4
4.8
3.5
5.5
1.7
6.1
93.302
93.615
94.064
94.455
93.602
93.897
94.286
94.796
93.328
93.659
93.951
94.450
93.338
93.671
93.962
94.458
2.5
1.3
1.9
1.7
2.3
1.3
1.7
2.2
2.6
1.4
1.3
2.1
2.6
1.4
1.2
2.1
1997:
I ...................
II..................
Ill.................
IV.................
8,536.1
8,665.8
8,773.7
8,838.4
8,507.3
8.574.6
8.705.7
8,758.6
8.566.0
8.707.0
8,808.7
8,868.1
3.1
6.2
5.1
3.0
3.0
3.2
6.3
2.5
94.963
95.291
95.541
95.864
95.189
95.296
95.494
95.781
95.054
95.206
95.534
95.846
95.058
95.212
95.542
95.851
2.2
1.4
1.1
1.4
1.7
0.5
0.8
1.2
2.6
0.6
1.4
1.3
2.6
0.6
1.4
1.3
1998:
I ...................
II..................
II I
I V
8.936.2
8.995.3
9,098.9
9,237.1
8,821.1
8,948.7
9,038.4
9,182.2
8,965.5
9.022.2
9.112.2
9.255.2
4.5
2.7
4.7
6.2
2.9
5.9
4.1
6.5
96.096
96.284
96.620
96.901
95.773
95.881
96.141
96.444
96.089
96.249
96.600
96.934
96.091
96.254
96.604
96.932
1.0
0.8
1.4
1.2
0.0
0.5
1.1
1.3
1.0
0.7
1.5
1.4
1.0
0.7
1.5
1.4
1999:
I ...................
II..................
II I
I V
9,315.5
9,392.6
9,502.2
9,671.1
9.239.7
9.353.7
9,453.5
9,569.3
9,346.7
9,429.1
9,532.7
9,710.4
3.4
3.4
4.8
7.3
2.5
5.0
4.3
5.0
97.274
97.701
98.022
98.475
96.761
97.317
97.790
98.356
97.328
97.674
98.013
98.432
97.330
97.675
98.014
98.433
1.5
1.8
1.3
1.9
1.3
2.3
2.0
2.3
1.6
1.4
1.4
1.7
1.7
1.4
1.4
1.7
2000:
I ...................
II..................
I ll.................
IV.................
9,695.6
9,847.9
9.836.6
9.887.7
9,668.8
9,748.4
9,780.4
9,844.3
9,729.0
9,885.3
9,867.8
9,941.6
1.0
6.4
-0.5
2.1
4.2
3.3
1.3
2.6
99.292
99.780
100.241
100.687
99.275
99.714
100.283
100.727
99.317
99.745
100.259
100.666
99.311
99.741
100.262
100.672
3.4
2.0
1.9
1.8
3.8
1.8
2.3
1.8
3.6
1.7
2.1
1.6
3.6
1.7
2.1
1.6
2001:
I ...................
II..................
Ill.................
IV.................
9,875.6
9,905.9
9,871.1
9,910.0
9.883.2
9,908.7
9,899.9
9.992.3
9.913.6
9,949.8
9.887.7
9,983.1
-0.5
1.2
-1.4
1.6
1.6
1.0
-0.4
3.8
101.507
102.290
102.690
103.122
101.403
101.974
102.223
102.378
101.478
102.252
102.675
103.191
101.480
102.248
102.671
103.183
3.3
3.1
1.6
1.7
2.7
2.3
1.0
0.6
3.3
3.1
1.7
2.0
3.2
3.1
1.7
2.0
2002:
I ...................
II..................
Ill.................
IV.................
9,977.3
10.031.6
10.090.7
10.095.8
9,986.8
10,028.4
10,063.5
10,067.3
10,004.1
10,048.6
10,119.7
10,143.8
2.7
2.2
2.4
0.2
-0.2
1.7
1.4
0.1
103.553
103.944
104.347
104.926
102.755
103.385
103.816
104.374
103.568
103.938
104.328
104.907
103.552
103.928
104.321
104.903
1.7
1.5
1.6
2.2
1.5
2.5
1.7
2.2
1.5
1.4
1.5
2.2
1.4
1.5
1.5
2.3
2003:
I ...................
II..................
Ill.................
IV.................
10,126.0
10,212.7
10,398.7
10,467.0
10.100.9
10,213.7
10.385.9
10,440.0
10,163.8
10.266.9
10.449.9
10,540.5
1.2
3.5
7.5
2.7
1.3
4.5
6.9
2.1
105.742
106.076
106.616
107.204
105.435
105.587
106.170
106.671
105.724
106.062
106.611
107.190
105.718
106.053
106.602
107.180
3.1
1.3
2.1
2.2
4.1
0.6
2.2
1.9
3.2
1.3
2.1
2.2
3.1
1.3
2.1
2.2
2004:
I ...................
II..................
Ill.................
IV.................
10,543.6
10,634.2
10,728.7
10,796.4
10,507.1
10.568.5
10.666.6
10,737.0
10,633.0
10,701.4
10,804.9
10,844.4
3.0
3.5
3.6
2.5
2.6
2.4
3.8
2.7
108.180
109.185
109.807
110.677
107.787
108.893
109.637
110.622
108.175
109.178
109.793
110.671
108.170
109.173
109.786
110.666
3.7
3.8
2.3
3.2
4.3
4.2
2.8
3.6
3.7
3.8
2.3
3.2
3.7
3.8
2.3
3.2
2005:
I ...................
II..................
Ill.................
IV.................
10,875.8
10,946.1
11,050.0
11,086.1
10.799.3
10,925.9
11,035.5
11.028.4
10.968.4
11.028.4
11,140.7
11,151.2
3.0
2.6
3.8
1.3
2.3
4.8
4.1
-0.3
111.778
112.357
113.487
114.536
111.638
112.484
113.913
115.016
111.765
112.346
113.468
114.525
111.757
112.344
113.469
114.523
4.0
2.1
4.1
3.7
3.7
3.1
5.2
3.9
4.0
2.1
4.1
3.8
4.0
2.1
4.1
3.8
2006:
I ...................
II..................
Ill.................
IV.................
11,217.3
11,291.7
11,314.1
11,356.4
11,167.6
11,232.1
11,257.8
11,339.7
11,286.5
11,365.1
11,370.8
11,426.5
4.8
2.7
0.8
1.5
5.1
2.3
0.9
2.9
115.536
116.317
117.109
117.742
115.832
116.859
117.700
117.873
115.533
116.317
117.107
117.732
115.529
116.315
117.107
117.726
3.5
2.7
2.8
2.2
2.9
3.6
2.9
0.6
3.6
2.7
2.7
2.2
3.6
2.7
2.8
2.1
2007:
I ...................
II..................
Ill.................
IV.................
11,357.8
11,491.4
11.625.7
11.620.7
11.370.5
11.490.5
11,605.0
11,628.0
11,419.1
11,541.7
11,719.9
11,758.3
0.1
4.8
4.8
-0.2
1.1
4.3
4.0
0.8
118.935
119.531
119.984
120.826
118.931
119.908
120.571
121.766
118.956
119.547
119.997
120.743
118.952
119.542
119.990
120.737
4.1
2.0
1.5
2.8
3.6
3.3
2.2
4.0
4.2
2.0
1.5
2.5
4.2
2.0
1.5
2.5
2008:
I...................
II....................
Ill...................
11.646.0
11,727.4
11.720.0
11,653.7
11,778.8
11,755.2
11,760.9
11,822.2
0.9
2.8
-0.3
0.9
4.4
-0.8
121.613
121.951
123.203
122.821
124.103
125.557
121.508
121.890
123.116
121.495
121.876
2.6
1.1
4.2
3.5
4.2
4.8
2.6
1.3
4.1
2.5
1.3
N ovem ber
2008
D -5 1
D. Charts
All series are seasonally adjusted at annual rates. The percent changes in real gross domestic product are based on quarterto-quarter changes.
SELECTED NIPA SERIES
Chained (2000) dollars
Apr Feb
Dec Nov
40,000
Nov
Mar
Jan Jly Jly
Nov
Jly Mar
Mar Nov
40,000
35,000-
-35,000
30,000-
-30,000
25,000-
-25,000
2 0 ,0 0 0 -
-2 0 ,0 0 0
15,000-
-15,000
1 0 ,0 0 0
10 ,0 0 0
68
70
80
82
02
P ercen t
Dec Nov
Nov
Mar
Apr Feb______________________________________
REAL GROSS DOMESTIC PRODUCT (PERCENT CHANGE)
60
62
64
U.S. Bureau of Economic Analysis
Jan Jly Jly
Nov
Jly Mar
Mar Nov
National Data
D -5 2
N ovem ber
2008
SELECTED NIPA SERIES
P ercen t
Apr Feb
Dec
Nov
Nov
Jan Jly Jly
Mar
Nov
Jly Mar
Mar Nov
SHARES OF FEDERAL GOVERNMENT RECEIPTS
50
Personal current taxes / ' ' H K I
K
40-
Y
'W
'" "
A
30-
20-
A
^
V
40
Contributions for government social insurance
30
20
r- -
V
***|
Taxes on corporate income
l l *1 1
__.................................................
Taxes on production and imports
P ercen t
Dec Nov
Apr Feb
Nov
Mar
Jan Jly Jly
Mar Nov
Jly Mar
Nov
SHARES OF FEDERAL GOVERNMENT CURRENT EXPENDITURES
60
60Current transfer payments
- 50
50-
40
30
Interest payments
P ercen t
Dec Nov
Apr Feb
Nov
Mar
Jan Jly Jly
Nov
Jly Mar
RATIO, NET GOVERNMENT SAVING TO GROSS DOMESTIC PRODUCT
Net government saving
2 Federal
-4 -6 -
U.S. Bureau of Economic Analysis
Mar Nov
20
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -5 3
SELECTED NIPA SERIES
Percent
25
Apr Feb
Dec Nov
Nov
Mar
Jan Jly Jly
Nov
Jly Mar
Mar Nov
25
RATIO, INVESTMENT TO GROSS NATIONAL PRODUCT
\
20 -
15
**
V
i
s-% .
^
\
^
/.
f
V_
/
V
^
s v /A
f
*\ S '-*
_
~
Gross private domestic investmefit
\
A
/* n
v
B
~
Gross dom estic investment plus balance on current account (NIPAs)
-
^
- 15
r<U^\
B 'N / '
-
10
20
10
Gross government investment
Balance on current account
-5 -
-1 0
I
60
I
i
62
i
\
i
66
i
i
68
i
r
70
i
i
72
i
i
74
i
i
76
i
i
i
78
i
i
80
i
i
82
i i
84
r
86
i
I
I
90
I
I
92
i
I
94
I
i
96
I
i
98
I
00
I
i
02
i
I
04
i
i
-1 0
i
06
08
Percent
60
Apr Feb
Dec Nov
Nov
Mar
Jan Jly Jly
Nov
Jly Mar
Mar Nov
60
SHARES OF GROSS PRIVATE DOMESTIC FIXED INVESTMENT
- 50
50 -
40
Nonresidential equipment and software ■
V- N
- 40
/ \ , . —
\
30 -
/
\
\/V
/ / ■ 'N
~
\
/
n
v
V-/
>
/
S ', l ~
S\
\
I
'
'
/
N
V - V ,
I
^ V
\
- 30
X
-------->*.✓
’
/
V
V
20
1/
Residential investment
\
20
Nonresidential structures
-
10
I
62
I
I
64
I
I
66
U.S. Bureau of Economic Analysis
I
I
68
I
I
70
I
I
72
I
I
74
I
I
76
I
I
78
I
I
f
82
I
84
I
I
86
I
I
I
I
90
I
I
92
I
I
94
I
I
96
I
I
98
I
I
00
I
I
02
I
I
04
I
I
06
I
08
10
National Data
D -5 4
N ovem ber
SELECTED NIPA SERIES
2007
1960
SHARES OF NATIONAL INCOME
Supplements to wages
and salaries, 5.0%
Wage and salary
accruals, 57.5%
W age and salary
Supplements to wages
accruals, 52.2%
and salaries, 12.2%
Proprietors’ income, 10.7%
Proprietors’ income,
5%
Rental income
Rental income
of persons, 3.6%
of persons, 0.5%
Corporate profits, 13.1%
Corporate profits, 11.3%
Net interest and misc. payments, 2.2%
Other o 4 %
Taxes on production and imports, 9.4%
SHARES OF GROSS DOMESTIC PRODUCT BY SECTOR
Net interest and misc. payments,
Other, 0.3%
1960
4.9%
Taxes on production and imports, 8.3%
2007
Business, 77.0%
Business, 79.9%
Households, 6.4%
Households, 6.1%
Nonprofit institutions
Nonprofit institutions serving
households, 2.2%
SHARES OF GROSS DOMESTIC PURCHASES
serving households,
5.1%
General government,
General government,
federal 6.3%
federal, 3.4%
General government,
General government,
state and local 5.3%
state and local, 8.0%
2007
1960
Personal consumption
Personal consumption
expenditures, 66.9%
expenditures, 63.5%
Private nonresidential
investment, 10.1%
Private nonresidential
investment, 10.2%
Private residential
Private residential
investment, 5.0%
investment, 4.4%
Federal government,’
6.7%
Federal government,* 12.3%
State and local government,* 11.8
State and local government,* 9.1%
‘Consumption expenditures and gross investment
U.S. Bureau of Economic Analysis
2008
N ovem ber
2008
SELECTED NIPA SERIES
S u r v e y o f C u r r e n t B u s in e s s
D -5 5
National Data
D -5 6
N ovem ber
SELECTED NIPA SERIES
Percent
Dec Nov
Apr Feb
2 0 --------------
Nov
Mar
Jan Jly Jly
Nov
Jly Mar
Mar Nov
PROFIT MARGIN, DOMESTIC NONFINANCIAL CORPORATIONS*
16
Before tax
12 -
‘Ratio of corporate profits per unit to cost and profit per unit
Ratio
Dec
Apr Feb
Nov
Nov
Mar
Jan Jly Jly
Jly Mar
Nov
Mar Nov
INVENTORY/SALES RATIOS, CURRENT DOLLAR*
Ratio of private nonfarm inventories to
final sa les of goods and structures
Ratio of private inventories to
final sa les of domestic business
Ratio of private nonfarm inventories to
final sa les of domestic business
’Based on current-dollar estimates of inventories and sales
1
60
i
I
62
i
i
64
i
i
i
66
i
i
68
i
i
70
i
i
72
i
i
74
i
i
76
i
i
78
i
80
i
i
i
82
i
i
84
i
i
86
I
i
88
i
i
90
i
i
92
i
i
94
i
i
96
i
i
98
i
i
00
i
i
02
i
i
04
i
r
06
08
Ratio
5
INVENTORY/SALES RATIOS, REAL*
Ratio of private nonfarm inventories to
final sa les of goods and structures
Ratio of private inventories to
final sa les of domestic business
____ __ .
Ratio of private nonfarm inventories to
final sa les of domestic business
'Based on chained (2000) dollar estimates of inventories and sales
T
60
62
64
66
U.S. Bureau ot Economic Analysis
T
T
68
T
T
70
T
T
72
T
T
74
T
T
76
T
T
78
T
r T
80
T
82
T
T
84
T
T
86
T
T
88
T
T
90
T
T
92
T
T
94
T
T
96
T
T
98
T
T
00
T
T
02
T
T
04
T
T
06
T
2008
N ovem ber
I n d u s tr y
E .
2008
D -5 7
D a ta
In d u s tr y
T a b le
The statistics in this table were published in tables 5A and 7A in “Annual Industry Accounts: Advance Statistics on
GDP by Industry for 2007” in the May 2008 Sur v e y of C u r r e n t Business.
Table E.1. Percent Changes in Chain-Type Quantity and Price Indexes for Value Added by Industry for 2004-2006
Chain-type
quantity indexes
Line
2005
2006
Chain-type
price indexes
2007
2005
2006
2007
2005
Gross domestic product............................................
3.1
2.9
2.2
3.2
3.2
2.7
50
? Private industries................................................................
3.4
3.5
2.1
3.0
2.8
2.6
51
52
3
4
b
Agriculture, forestry, fishing, and hunting................
4.9
0.9
1.4 -13.7
-3.5
26.9
Farms......................................................................
Forestry, fishing, and related activities.....................
5.9
1.3
0.6
1.8
-16.9
0.2
-5.7
4.7
6
7
8
9
Mining.................................................................................
-2.4
-8 4
8.7
12.6
fi.1
3.2
1.7
20.2
0.0
Oil and gas extraction..............................................
Mining, except oil and gas.......................................
Support activities for mining....................................
1U
Utilities...............................................................................
-2.2
-2.3
11
Construction.....................................................................
2.7
-6.0
12
13
14
15
16
17
18
19
20
Manufacturing..................................................................
1.0
2.9
2.3
49
0.6
-4.4
-7.3
2.0
8.6
21.0
60
6.1
-4.4
-8.9
5.7
6.4
21.5
4.9
21
22
23
24
2b
26
27
28
29
30
31
3?
33
Durable goods.........................................................
Wood products....................................................
Nonmetallic mineral products..............................
Primary metals....................................................
Fabricated metal products...................................
Machinery...........................................................
Computer and electronic products.......................
Electrical equipment, appliances, and
components....................................................
Motor vehicles, bodies and trailers, and parts......
Other transportation equipment...........................
Furniture and related products............................
Miscellaneous manufacturing..............................
Nondurable goods...................................................
Food and beverage and tobacco products...........
Textile mills and textile product mills.....................
Apparel and leather and allied products...............
Paper products....................................................
Printing and related support activities..................
Petroleum and coal products...............................
Chemical products..............................................
Plastics and rubber products..............................
34
Wholesale trade...............................................................
1.8
1.7
0.9
3.5
3.5
3.9
35
Retail trade........................................................................
6.1
5.0
4.9
-1.4
-0.6
-0.4
36
37
38
39
40
41
42
43
44
Transportation and warehousing.................................
4.1
5.2
3.1
-0.1
2.2
1.5
Air transportation.....................................................
Rail transportation...................................................
Water transportation................................................
Truck transportation.................................................
Transit and ground passenger transportation...........
Pipeline transportation............................................
Other transportation and support activities..............
Warehousing and storage.......................................
6.2
-1.1
0.9
4.1
-3.2
6.3
3.9
12.1
2.9
27.8
6.5
2.1
1.2
1.0
4.3
4.6
45
46
4/
48
49
Information........................................................................
11.5
7.2
Publishing industries (includes software).................
Motion picture and sound recording industries........
9.0
1.5
14.0
11.2
4.5
0.5
7.5
16.1
1
Information and data processing services...............
-5.9
-3.9
3.5
10.9
12.2
6.8
-4.6
-0.5
2.4
2.8
-3.9
-1.0
0.2
2.2
-7.1 -11.9
-0.7
-3.1
2.8
-5.5
-0.3
0.9
-14.4
-6.0
-6.4
1.3
-3.3
-3.8
34.9
9.6
42.9
14.2
27.7
3.2
13.5
28.8
b.3
6.2
12.1
2.8
-12.1
9.8
10.3
1.6
2.9
1.5
1.9
-0 7
10
-1.7
-4.8
7.6
12.8
14.4
20.4
4.9
0.6
2.2
0.9
-12.6 -13.3
0.1
-1.1
2.4
6.5
-10.4 -11.9
3.1
3.2
2.4
3.b
-0.9
-0.8
7.9
4.8
1.4
-4.0
-1.1
3.9
-1.4
-0.2
5.7
0.8
-0.5
1.3
60.4
18.1
7.4
5.7
1.8
12.0
5.1
-3.5
-2.1
-0.2
2.8
-5.9
-2.4
1.1
2.1
-3.4
-5.1
1.2
-0.3
Finance, insurance, real estate, rental, and leasing
Finance and insurance..............................................
4.8
6.2
5.8
9.8
Federal Reserve banks, credit intermediation, and
related activities..............................................
Securities, commodity contracts, and investments
Insurance carriers and related activities..............
Funds, trusts, and other financial vehicles...........
8.1
17.9
-4.7
16.0
8.1
23.2
5.1
0.2
4.0
3.4
Real estate..........................................................
Rental and leasing services and lessors of
intangible assets.............................................
4.6
3.7
-3.7
-1.3
59
Professional and business services..........................
Professional, scientific, and technical services
4.0
4.4
3.8
6.0
Legal services.....................................................
Computer systems design and related services...
Miscellaneous professional, scientific, and
technical services...........................................
-1.6
4.8
-0.2
8.4
6.3
7.5
Management of companies and enterprises........
Administrative and waste management services
0.3
5.6
-2.4
2.7
2.1
4.6
5.4
0.9
4.9
2005
2006
2.2
1.9
2.2
1.4
2.3
-1.5
3.6
0.8
4.2
-3.8
1.1
-10.1
2.4
2.7
2.2
2.8
4.9
1.9
4.4
3.0
3.5
2.5
6.2
0.0
6.1
1.6
2.7
1.5
11.4
3.5
5.7
4.6
4.2
-3.1
4.3
7.4
3.1
5.5
2.7
2.7
5.0
2.4
Administrative and support services....................
Waste management and remediation services....
5.5
6.7
3.0
-0.7
Educational services, health care, and social
assistance.....................................................................
Educational services.................................................
Health care and social assistance..........................
1.8
-0.3
2.1
3.5
1.1
3.9
Ambulatory health care services.........................
Hospitals and nursing and residential care
facilities...........................................................
Social assistance................................................
4.6
6.0
1.9
1.1
-1.4
4.2
1.1
4.2
4.3
0.3
4.2
1.8
Arts, entertainment, recreation, accommodation,
and food services........................................................
Arts, entertainment, and recreation.......................
1.3
0.0
3.1
3.8
3.5
3.3
3.8
3.5
Performing arts, spectator sports, museums, and
related activities..............................................
Amusements, gambling, and recreation industries
-0.4
0.2
5.6
2.3
4.8
2.1
3.9
3.1
78
79
80
Accommodation and food services.......................
1.8
2.8
Accommodation..................................................
Food services and drinking places.......................
1.8
1.8
4.0
2.3
81
Other services, except government...........................
Federal...............................................................................
-0.6
0.7
0.2
-0.3
0.4
-0.1
General government...............................................
Government enterprises.........................................
0.7
-2.7
-0.2
-0.1
0.9
0.7
0.9
0.6
1.0
-2.8
1.3
4.0
0.8
4.2
11.3
11.7
68
69
4.5
2007
Real estate and rental and leasing.........................
60
61
62
63
Chain-type
price indexes
2006
b6
b/
b8
65
66
67
70
71
72
73
74
75
l<6
U
82 Government..........................................................................
83
84
85
86
87
88
-1.1
1. Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing.
2. Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance,
insurance, real estate, rental, and leasing; professional and business services; educational services, health
care, and social assistance; arts, entertainment, recreation, accommodation, and food services; and other
53
54
55
64
-12.8
6.8
12.8 -11.8
1.1
-3.8
2.3
3.0
2.1
2.7
-19.6
22.5
2.2
2.6
-0.2
1.8
9.0
Chain-type
quantity indexes
Line
General government...............................................
Government enterprises.........................................
3.5
3.3
3.5
1.9
1.0
2.2
2007
2.6
2.1
2.9
3.2
2.8
7.1
1.6
3.1
3.6
3.1
3.4
2.9
3.6
3.9
4.9
3.0
2.8
4.5
5.8
4.4
4.6
4.9
4.7
4.9
5.7
-1.9
4.7
6.5
4.4
4.6
4.5
2.8
4.6
4.1
-1.5
3.2
5.9
2.2
4.1
2.5
3.4
2.3
13.2
-4.1
-3.8
-5.3
2.1
1.2
0.4
1.5
3.6
2.9
4.3
3.5
4.7
Addenda:
89
90
91
Private goods-producing industries1...........................
Private services-producing industries2 .......................
Information-communications-technology-producing
industries3...............................................................
services, except government.
3. Consists of computer and electronic products; publishing industries (includes software); information and
data processing services; and computer systems design and related services.
N ovem ber
D -5 8
2008
International Data
F . T r a n s a c t io n s
S e le c t e d U . S .
T a b le s
in te r n a t io n a l
tr a n s a c tio n s
t a b le s
a re p re s e n te d
in
t h is
s e c t io n . F o r B E A ’s f u l l s e t o f d e t a i le d
e s t im a t e s
o f U .S .
i n t e r n a t i o n a l t r a n s a c t i o n s , v i s i t B E A ’s W e b s i t e a t w w w . b e a . g o v .
Table F.1. U.S. International Transactions in Goods and Services
[Millions of dollars, monthly estimates seasonally adjusted]
2007
2006
2008
2007
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
March
April
May
June
July
Aug. r
Sept. f
Exports of goods and services........................................... 1,457,014 1,645,726
142,113
145,214
146,144
149,389
152,551
149,706
155,094
156,935
162,788
168,089
165,279
155,400
1,023,109 1,148,481
98,524
99,468
100,371
100,968
101,842
104,686
108,098
105,029
110,059 110,998
116,255
120,834 117,886
108,078
Goods...................................................................................
142,778 144,108
Foods, feeds, and beverages.....................................
Industrial supplies and materials..............................
Capital goods, except automotive.............................
Automotive vehicles, parts, and engines....................
Consumer goods (nonfood), except automotive........
Other goods..............................................................
Adjustments 1...........................................................
65,962
276,045
414,986
106,977
129,074
43,589
-13,525
84,264
316,335
447,433
121,045
146,102
47,300
-13,999
7,505
27,365
38,108
10,282
12,440
3,901
-1,076
8,054
27,636
38,095
10,428
12,614
3,542
-900
7,700
27,555
38,991
10,502
12,480
4,186
-1,043
7,967
27,994
38,815
10,836
12,346
4,443
-1,433
7,986
28,704
39,404
10,101
12,802
3,909
-1,065
8,629
29,729
39,377
10,328
13,281
4,137
-796
9,113
31,775
39,331
10,826
13,364
4,594
-906
9,599
31,549
37,831
9,442
12,586
4,533
-512
9,864
32,724
40,111
10,032
13,426
4,678
-776
9,663
34,178
39,439
10,218
13,422
4,624
-546
10,402
36,713
40,597
10,796
14,134
4,371
-758
10,363
38,269
41,500
12,160
14,884
4,487
-828
10,172
37,382
42,323
10,475
13,999
4,607
-1,073
9,101
33,307
38,110
10,335
13,481
4,203
-459
Services...............................................................................
433,905
497,245
43,589
43,310
43,737
44,246
44,302
44,703
44,453
44,677
45,035
45,937
46,533
47,255
47,393
47,322
85,720
22,036
46,323
72,191
189,050
17,430
1,155
96,712
25,586
51,586
82,614
223,483
16,052
1,212
8,468
2,165
4,389
7,341
19,834
1,289
103
8,481
2,210
4,366
7,408
19,472
1,268
105
8,753
2,379
4,483
7,258
19,568
1,190
106
8,866
2,399
4,695
7,265
19,725
1,188
107
8,880
2,481
4,611
7,294
19,765
1,163
107
8,880
2,457
4,900
7,127
19,493
1,745
100
9,069
2,528
4,870
7,181
19,291
1,414
99
9,111
2,638
4,862
7,250
19,504
1,212
100
9,102
2,493
5,108
7,343
19,729
1,153
107
9,482
2,623
5,202
7,421
19,893
1,207
109
9,659
2,788
5,268
7,499
20,055
1,156
109
9,828
2,864
5,369
7,578
20,342
1,168
107
10,134
2,912
5,300
7,654
20,062
1,222
108
9,897
2,895
5,171
7,730
20,387
1,134
108
Travel.........................................................................
Passenger fares........................................................
Other transportation..................................................
Royalties and license fees.........................................
Other private services...............................................
Transfers under U.S. military agency sales contracts 2
U.S. Government miscellaneous services.................
Imports of goods and services........................................... 2,210,298 2,345,983
197,446
198,243 200,441
205,084 203,722 208,100 213,985 206,670 216,602 217,143 221,624 229,393
188,944
177,677
74,938
601,988
418,259
256,627
442,639
59,487
7,441
81,683
634,746
444,486
258,920
474,892
62,234
10,892
6,963
53,483
37,283
21,928
39,231
5,272
1,035
6,963
53,505
37,907
22,075
39,377
5,284
1,094
6,922
55,139
37,704
22,170
39,975
5,299
876
7,102
59,198
37,851
22,099
40,314
5,468
632
6,907
60,310
37,712
20,722
39,727
5,168
804
7,081
63,954
37,446
21,229
39,059
5,272
794
7,183
64,510
38,272
22,794
40,963
5,201
1,657
7,088
61,521
37,882
20,299
39,531
5,526
1,584
7,379
67,502
39,112
21,474
40,194
5,757
1,590
7,640
67,067
39,782
20,472
41,840
5,554
754
7,500
73,363
38,441
20,530
41,331
5,652
707
7,544
79,857
39,012
20,443
41,073
5,992
1,028
7,793
73,772
38,258
19,285
43,576
5,615
646
7,604
65,666
38,756
18,553
40,144
5,493
1,461
Services...............................................................................
348,918
378,130
32,250
32,036
32,357
32,420
32,372
33,267
33,405
33,238
33,593
34,034
34,101
34,444
35,411
34,193
Travel.........................................................................
Passenger fares........................................................
Other transportation..................................................
Royalties and license fees.........................................
Other private services...............................................
Direct defense expenditures 2....................................
U.S. Government miscellaneous services.................
72,104
27,501
65,262
23,777
125,221
31,032
4,021
76,167
28,486
67,050
25,048
144,375
32,820
4,184
6,450
2,501
5,746
2,052
12,439
2,704
357
6,452
2,486
5,524
2,036
12,431
2,747
359
6,547
2,440
5,718
1,996
12,438
2,857
360
6,519
2,447
5,752
1,992
12,447
2,902
360
6,467
2,477
5,671
2,002
12,465
2,929
361
6,810
2,663
5,935
2,172
12,412
2,914
361
6,840
2,646
6,040
2,227
12,368
2,923
361
6,753
2,619
5,894
2,263
12,416
2,932
361
6,754
2,658
6,110
2,253
12,509
2,949
360
6,975
2,687
6,218
2,270
12,572
2,954
359
6,831
2,788
6,231
2,287
12,651
2,953
360
6,770
2,807
6,407
2,303
12,807
2,987
363
6,896
2,738
6,351
3,217
12,825
3,020
364
6,710
2,631
6,231
2,344
12,923
2,988
367
1,861,380 1,967,853
165,196 166,207
168,084
172,664
171,350 174,833
180,580 173,432
224,355 211,870
Foods, feeds, and beverages....................................
Industrial supplies and materials..............................
Capital goods, except automotive.............................
Automotive vehicles, parts, and engines....................
Consumer goods (nonfood), except automotive........
Other goods..............................................................
Adjustments 1...........................................................
Goods...................................................................................
183,009
183,109
187,523
194,949
Memoranda:
Balance on goods.........................................................
Balance on services......................................................
Balance on goods and services....................................
-838,270 -819,373 -66,672 -66,738 -67,713 -71,697 -69,509 -70,147 -72,483 -68,403 -72,950 -72,111 -71,267 -74,116
84,987
119,115
11,274
11,380
11,826
11,930
11,436
11,439
11,442
12,432
11,339
11,048
11,903
12,811
-753,283 -700,258 -55,333 -55,464 -56,333 -59,871 -57,579 -58,711 -61,435 -56,964 -61,508 -60,208 -58,835 -61,305
p Preliminary
tions used to prepare BEA's international and national accounts,
r Revised
2. Contains goods that cannot be separately identified.
1. Reflects adjustments necessary to bring the Census Bureau’s component data in line with the concepts and definiSource: U.S. Bureau of Economic Analysis and U.S. Bureau Census.
-71,058 -69,598
13,129
11,983
-59,076 -56,470
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -5 9
Table F.2. U.S. International Transactions
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; debits -)
Seasonally adjusted
2007
2007
I
II
2007
2008
III
IV
I'
II p
I
II
2008
III
IV
Ir
II p
Current account
1 Exports of goods and services and income receipts...................................
2,463,505
566,539
608,364
634,480
654,122
644,178
674,683
572,182
602,122
638,393
650,808
651,473
669,691
2
Exports of goods and services...................................................................
1,645,726
381,201
404,467
420,832
439,225
446,177
477,841
385,436
399,951
424,873
435,465
451,645
474,819
3
Goods, balance of payments basis........................................................
1,148,481
267,716
285,008
287,925
307,832
315,351
341,526
270,318
279,488
295,494
303,180
317,813
337,312
4
5
Services................................................................................................
Transfers under U.S. military agency sales contracts.........................
497,245
16,052
113,485
4,629
132,908
3,881
131,393
3,542
130,826
4,371
136,315
3,516
115,118
4,629
120,463
4,000
129,378
3,881
132,285
3,542
133,833
4,371
137,506
3,516
6
7
8
Travel..................................................................................................
Passenger fares.................................................................................
Other transportation...........................................................................
19,658
5,529
11,873
29,159
6,868
13,018
23,508
7,340
14,120
24,152
7,077
14,277
29,281
7,950
15,461
21,818
5,800
12,076
23,154
5,996
12,639
25,241
6,530
13,081
26,499
7,259
13,790
27,060
7,623
14,632
28,243
7,904
15,577
9
10
11
12
13
14
1b
16
17
Royalties and license fees..................................................................
Other private services........................................................................
U.S. government miscellaneous services..........................................
Income receipts..........................................................................................
Income receipts on U.S.-owned assets abroad......................................
Direct investment receipts..................................................................
Other private receipts.........................................................................
U.S. government receipts...................................................................
Compensation of employees..................................................................
96,712
25,586
51,586
82,614
223,483
1,212
817,779
814,807
368,275
444,299
2,233
2,972
119,459
4,000
24,387
5,848
12,575
18,490
53,010
296
185,339
184,606
81,973
102,063
570
733
19,683
52,679
288
203,897
203,160
91,434
111,187
539
737
21,588
58,084
309
213,647
212,901
95,105
117,275
521
746
22,853
59,710
320
214,897
214,141
99,764
113,774
603
756
20,916
59,735
299
198,001
197,238
95,434
101,088
716
763
22,078
57,704
325
196,842
196,075
101,604
93,728
743
767
18,991
51,508
296
186,746
186,013
83,391
102,063
559
733
19,866
54,521
288
202,171
201,434
89,673
111,187
574
737
21,940
58,396
309
213,520
212,774
94,953
117,275
546
746
21,817
59,058
320
215,343
214,587
100,259
113,774
554
756
21,559
58,289
299
199,827
199,064
97,262
101,088
714
763
22,264
59,677
325
194,873
194,106
99,612
93,728
766
767
18 Imports of goods and services and income payments................................
19
Imports of goods and services...................................................................
-3,082,014 -713,978 -777,437 -793,312 -797,288 -767,073 -830,555 -738,938 -771,262 -783,548 -788,264 -795,371 -822,898
20
Goods, balance of payments b asis.......................................................
-1,967,853 -454,424 -487,304 -503,513 -522,612 -507,017 -556,515 -473,681 -485,375 -496,698 -512,099 -528,845 -553,641
21
22
Services.............................
Direct defense expenditures...............................................................
-378,130
-32,820
-86,626
-7,915
-96,401
-8,085
-99,733
-8,132
-95,371
-8,688
-94,603 -105,165
-8,769
-8,856
-91,298
-7,915
-93,395
-8,085
-96,288
-8,132
-97,149
-8,688
-99,910 -101,729
-8,856
-8,769
23
24
25
Travel..............................
Passenger fares.................................................................................
Other transportation...........................................................................
-76,167
-28,486
-67,050
-15,837
-6,158
-15,570
-21,390
-7,588
-16,903
-21,916
-7,841
-17,476
-17,024
-6,899
-17,101
-17,410
-7,277
-17,192
-18,538
-6,721
-16,022
-18,849
-6,979
-16,767
-19,247
-7,422
-17,119
-19,533
-7,364
-17,142
-20,403
-7,928
-17,869
26
2!
28
29
30
31
32
33
34
Royalties and license fees ................................................................
Other private services................
U.S. government miscellaneous services..........................................
Income payments...............................
Income payments on foreign-owned assets in the United States............
Direct investment payments...............................................................
Other private payments......................................................................
U.S. government payments................................................................
Compensation of employees..................................................................
35 Unilateral current transfers, net.........................................................................
36
U.S. government grants..............................................................................
3/
U.S. government pensions and other transfers..........................................
38
Private remittances and other transfers......................................................
-2,345,984 -541,050 -583,705 -603,246 -617,983 -601,621 -661,680 -564,979 -578,770 -592,986 -609,248 -628,756 -655,369
-23,396
-8,832
-18,769
-20,560
-8,133
-18,560
-6,011
-6,004
-6,524
-25,048
-6,386
-6,646
-6,428
-6,643
-6,260
-6,155
-5,991
-6,663
-6,809
-144,375 -33,744 -35,406 -37,294 -37,931 -36,444 -37,709 -34,444 -35,437 -37,145 -37,350
-37,196 -37,732
-1,016
-4,184
-1,018
-1,069
-1,081
-1,083
-1,079
-1,016
-1,018
-1,069
-1,081
-1,083
-1,079
-736,030 -172,928 -193,732 -190,066 -179,305 -165,452 -168,875 -173,959 -192,492 -190,562 -179,016 -166,615 -167,529
-726,031 -170,529 -191,353 -187,602 -176,548 -162,938 -166,445 -171,560 -189,991 -188,045 -176,436 -164,055 -164,979
-134,414 -32,097 -41,982 -34,800 -25,536 -25,884 -37,216 -33,128 -40,620 -35,243 -25,424 -27,001 -35,750
-426,515 -99,373 -107,963 -110,898 -108,281 -94,302 -86,265 -99,373 -107,963 -110,898 -108,281
-94,302 -86,265
-165,102 -39,059 -41,408 -41,904 -42,731 -42,752 -42,964 -39,059 -41,408 -41,904 -42,731
-42,752 -42,964
-9,999
-2,399
-2,379
-2,464
-2,757
-2,514
-2,501
-2,517
-2,580
-2,430
-2,399
-2,560
-2,549
-112,705
-30,543
-24,299
-27,693
-30,171
-32,408
-29,138
-30,174
-24,953
-27,796
-29,784
-31,742
-29,941
-33,237
-7,323
-72,145
-10,567
-1,540
-18,436
-5,611
-1,777
-16,910
-7,109
-1,260
-19,324
-9,950
-2,746
-17,475
-9,990
-1,680
-20,738
-7,138
-2,024
-19,976
-10,567
-1,805
-17,802
-5,611
-1,834
-17,508
-7,109
-1,837
-18,850
-9,950
-1,849
-17,985
-9,990
-1,951
-19,801
-7,138
-1,976
-20,827
-1,843
-543
-112
-617
-571
-600
-652
-543
-112
-617
-571
-600
-652
105,678 -442,065 -523,556 -170,476 -153,757 -260,644
110,431
Capital account
39 Capital account transactions, net......................................................................
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives (increase/
financial outflow ( - ) ) ........................................................................................
-1,289,854 -448,713 -526,163 -179,448 -135,529 -272,093
41
42
43
44
45
U.S. official reserve assets.........................................................................
Gold.........................
Special drawing rights
Reserve position in the International Monetary Fund............................
Foreign currencies..................................................................................
-122
0
-154
1,021
-989
-72
0
-43
212
-241
26
0
-39
294
-229
-54
0
-37
230
-247
-22
0
-35
285
-272
-276
0
-29
112
-359
-1,267
0
-22
-955
-290
46
47
48
49
U.S. government assets, other than official reserve assets........................
U.S. credits and other long-term assets.................................................
Repayments on U.S. credits and other long-term assets ......................
U.S. foreign currency holdings and U.S. short-term assets.....................
-22,273
-2,475
4,104
-23,902
445
-608
1,091
-38
-596
-1,405
687
122
623
-182
780
25
-22,744
-279
1,546
-24,011
3,265
-179
487
2,957
-41,265
-1,173
860
-40,952
50
51
52
53
U.S. private assets.....................................................................................
Direct investment....................................................................................
Foreign securities...................................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns ...........................................................................................
U.S. claims reported by U.S. banks, not included elsewhere..................
54
-1,267,459 -449,086 -525,593 -180,017 -112,763 -275,082
-333,271 -73,354 -96,224 -71,015 -92,678 -100,548
-4,202 -35,066
-288,731 -99,541 -84,671 -100,317
-706 -46,048 -134,713
-644,751 -230,143 -209,985
80,012 100,043
81,848
-88,697 -115,926 -221,316
-72
0
-43
212
-241
26
0
-39
294
-229
-54
0
-37
230
-247
-22
0
-35
285
-272
-276
0
-29
112
-359
-1,267
0
-22
-955
-290
-596
445
623 -22,744
3.265
-608
-1,405
-182
-279
-179
687
1,091
780
487
1,546
122
-38
25 -24,011
2,957
148,210 -442,438 -522,985 -171,045 -130,990 -263,634
-70,302 -66,706 -93,616 -62,043 -110,905 -89,100
-32,457 -99,541 -84,671 -100,317
-4,202 -35,066
-41,265
-1,173
860
-40,952
152,963
-65,549
-32,457
25,224 -46,048 -134,713
225,745 -230,143 -209,985
25,224
225,745
80,012 100,043
81,848
-88,697 -115,926 -221,316
55 Foreign-owned assets in the United States, excluding financial
derivatives (increase/financial inflow (+ ))...................................................
2,057,703
692,604
720,720
267,216
377,162
459,399
29,452
692,713
718,112
266,476
380,402
459,017
26,301
56
57
58
59
60
61
62
Foreign official assets in the United States................................................
U.S. government securities....................................................................
U.S. Treasury securities....................................................................
O ther................................................................................................
Other U.S. government liabilities ..........................................................
U.S. liabilities reported by U.S. banks, not included elsewhere...............
Other foreign official assets ..................................................................
411,058
230,330
58,865
171,465
5,342
108,695
66,691
163,270
121,640
40,337
81,303
366
30,329
10,935
88,822
61,641
1,610
60,031
-69
15,956
11,294
13,469
-7,788
-25,810
18,022
913
9,873
10,471
145,497
54,837
42,728
12,109
4,132
52,537
33,991
173,533
167,883
88,649
79,234
1,645
-26,930
30,935
144,417
150,390
57,245
93,145
2,439
-30,131
21,719
163,270
121,640
40,337
81,303
366
30,329
10,935
88,822
61,641
1,610
60,031
-69
15,956
11,294
13,469
-7,788
-25,810
18,022
913
9,873
10,471
145,497
54,837
42,728
12,109
4,132
52,537
33,991
173,533
167,883
88,649
79,234
1,645
-26,930
30,935
144,417
150,390
57,245
93,145
2,439
-30,131
21,719
63
64
65
66
67
68
Other foreign assets in the United States...................................................
Direct investment............................
U.S. Treasury securities..................
U.S. securities other than U.S. Treasury securities................................
U.S. currency..........................................................................................
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns ...........................................................................................
U.S. liabilities reported by U.S. banks, not included elsewhere...............
1,646,645
237,542
156,825
573,850
-10,675
529,334
13,917
42,882
183,507
-6,165
631,898
64,470
-13,522
310,340
-1,635
253,747
106,648
67,406
-30,486
655
231,665
52,506
60,059
110,489
-3,530
285,866 -114,965
96,918
80,819
63,263
66,950
16,532
-20,475
-914
230
529,443
14,026
42,882
183,507
-6,165
629,290
61,862
-13,522
310,340
-1,635
253,007
105,908
67,406
-30,486
655
234,905
55,746
60,059
110,489
-3,530
285,484 -118,116
80,437
93,767
63,263
66,950
-20,475
16,532
-914
230
156,290
532,813
90,061
205,132
122,476
149,769
84,085 -61,972
79,088 -233,623
90,061
205,132
122,476
149,769
55,599 -111,846
53,925 123,987
84,085 -61,972
79,088 -233,623
70 Financial derivatives, net.....................................................................................
6,496
-41,287
14,795
-80,161
-1,007
-66
n.a.
50,531
14,795
-67,970
-1,007
656
5,942
71,627
-13,234
-45,600
-8,001
-14,131
n.a.
47,067
12,192
722
-21,805
8,892
9,271
-3,464
69
71 Statistical discrepancy (sum of above items with sign reversed).............
71a
O f which: Seasonal adjustment discrepancy.............................................
55,599 -111,846
53,925 123,987
5,942
93,431
-13,234
-54,491
-8,001
-23,403
Memoranda:
72
73
74
75
76
77
Balance on goods (lines 3 and 20).................................................................
Balance on services (lines 4 and 21).............................................................
Balance on goods and services (lines 2 and 19)...........................................
Balance on income (lines 12 and 29).............................................................
Unilateral current transfers, net (line 35)........................................................
Balance on current account (lines 1,18, and 35 or lines 74,75, and 76)
p Preliminary
Digitized forr Revised
FRASER
-819,373 -186,708 -202,296 -215,588 -214,780 -191,666 -214,988 -203,363 -205,887 -201,204 -208,919 -211,032 -216,328
119,115
26,859
23,058
33,175
36,023
36,223
31,150
23,820
27,068
33,090
33,922
35,777
35,136
-700,258 -159,849 -179,238 -182,414 -178,757 -155,443 -183,839 -179,543 -178,819 -168,114 -173,783 -177,110 -180,551
23,582
35,592
32,549
27,967
12,787
81,749
12,410
10,165
9,679
22,958
36,327
27,344
33,212
-112,705 -30,543 -24,299 -27,693 -30,171 -32,408 -29,138 -30,174 -24,953 -27,796 -29,784 -31,742 -29,941
-731,214 -177,982 -193,372 -186,525 -173,336 -155,302 -185,009 -196,930 -194,093 -172,952 -167,241 -175,640 -183,147
International Data
D -6 0
N ovem ber
2008
Table F.3. U.S. International Transactions, by Area—Continues
[M illions of dollars]
Europe
Line
European Union
United Kingdom
Euro area
(Credits +; debits -)
2008:1 r
2008:11 ?
2008:1 r
2008:11 p
2008:1 r
2008:11 p
2008:ll p
2008:1 r
Current account
1 Exports of goods and services and income receipts....................................................................
231,262
239,128
198,347
204,849
128,819
135,364
58,092
56,985
2
Exports of goods and services.................................................................................................
134,231
143,912
113,638
121,795
76,759
81,606
28,927
31,219
3
Goods, balance of payments basis......................................................................................
81,372
87,322
68,047
72,622
50,291
53,215
13,965
14,770
4
5
Services..............................................................................................................................
Transfers under U.S. military agency sales contracts
52,859
1,165
56,590
867
45,591
772
49,172
485
26,468
329
28,392
218
14,962
122
16,449
91
7,362
2,115
5,135
9,393
2,575
5,458
6,702
1,903
4,464
8,605
2,358
4,805
3,366
1,090
2,487
4,189
1,241
2,724
2,702
687
1,183
3,544
884
1,266
Royalties and license fees................................................................................................
Other private services......................................................................................................
U.S. government miscellaneous services........................................................................
Income receipts.......................................................................................................................
Income receipts on U.S.-owned assets abroad....................................................................
Direct investment receipts................................................................................................
Other private receipts.......................................................................................................
U.S. government receipts.................................................................................................
Compensation of employees................................................................................................
12,080
24,929
73
97,031
96,916
45,132
51,274
510
115
12,749
25,470
78
95,216
95,099
47,038
47,558
503
117
9,804
21,888
58
84,709
84,616
37,845
46,301
470
94
10,355
22,503
62
83,055
82,959
39,372
43,141
446
95
6,977
12,180
39
52,059
52,006
29,247
22,289
470
53
7,374
12,599
46
53,758
53,704
31,191
22,067
446
54
2,055
8,198
14
29,165
29,139
6,990
22,149
0
25
2,162
8,487
14
25,766
25,740
6,429
19,311
0
26
18 Imports of goods and services and income payments.................................................................
-226,983
-254,677
-190,954
-215,105
-122,398
-142,588
-55,390
-58,003
19
Imports of goods and services.................................................................................................
-145,827
-166,088
-123,695
-139,397
-89,539
-24,050
-27,510
20
Goods, balance of payments basis......................................................................................
-106,381
-118,311
-89,614
-97,947
-68,195
-100,813
-74,741
-13,739
-15,075
21
22
Services..............................................................................................................................
Direct defense expenditures.............................................................................................
-39,446
-3,386
-47,777
-3,350
-34,082
-3,032
-41,449
-2,998
-21,344
-2,570
-26,072
-2,574
-10,311
-419
-12,436
-400
23
24
25
Travel...............................................................................................................................
Passenger fares..............................................................................................................
Other transportation........................................................................................................
-3,868
-2,926
-6,655
-8,966
-4,791
-7,495
-3,551
-2,773
-5,856
-7,936
-4,554
-6,626
-2,302
-1,729
-3,519
-5,494
-2,639
-3,978
-1,020
-936
-1,209
-2,000
-1,643
-1,398
26
27
28
29
30
31
32
33
34
Royalties and license fees................................................................................................
Other private services......................
U.S. government miscellaneous services........................................................................
Income payments....................................................................................................................
Income payments on foreign-owned assets in the United States.........................................
Direct investment payments.............
Other private payments....................
U.S. government payments..............................................................................................
Compensation of employees................................................................................................
-3,977
-18,128
-506
-81,156
-80,978
-17,270
-53,125
-10,583
-178
-4,035
-18,629
-512
-88,589
-88,442
-28,874
-48,570
-10,998
-147
-3,079
-15,397
-393
-67,259
-67,123
-10,941
-48,588
-7,594
-137
-3,125
-15,808
-403
-75,709
-75,593
-23,288
-44,617
-7,688
-115
-2,034
-8,867
-323
-32,859
-32,766
-4,283
-24,469
-4,014
-93
-2,064
-8,998
-326
-41,775
-41,693
-14,223
-23,814
-3,656
-82
-685
-5,983
-59
-31,340
-31,311
-5,205
-23,101
-3,005
-29
-694
-6,236
-64
-30,492
-30,466
-7,220
-19,777
-3,469
-26
35 Unilateral current transfers, net
U.S. government grants.....
36
37
U.S. government pensions and other transfers........................................................................
38
Private remittances and other transfers....................................................................................
-3,836
-3,208
-2,244
-1,611
-2,801
-2,203
760
765
-499
-456
-2,881
-510
-467
-2,231
-64
-424
-1,756
-46
-434
-1,131
-16
-323
-2,462
-14
-325
-1,864
0
-71
831
0
-73
838
39 Capital account transactions, net.......................................................................................................
-224
-228
-121
-122
-6 7
-6 8
-15
-15
Financial account
40 U.S.-owned assets abroad, excluding financial derivatives (increase/financial outflow (-))
-180,883
77,505
-191,818
23,999
-140,740
-72,275
-34,570
142,406
-316
0
-263
0
-249
0
-194
0
-249
0
-194
0
0
0
0
0
-249
-194
-34,989
0
7
-34,996
59,182
-36,478
-30,876
23,245
103,291
-249
5,019
0
27
4,992
-194
5,021
-3
31
4,993
-196,590
-43,228
-31,740
36,931
-158,553
2
0
0
2
-145,510
-28,934
-10,894
-547
-105,135
-72,047
-28,854
-7,535
-17,469
-18,189
(*)
0
0
(*)
-34,571
-6,700
-21,679
45,990
-52,182
142,404
-1,854
-26,725
42,339
128,644
6
7
8
9
10
11
12
13
14
15
16
17
Travel......................................................................
Passenger fares.....................................................
Other transportation...............................................
Capital account
41
42
43
44
45
46
47
48
49
U.S. official reserve assets.......................................................................................................
Gold..............................
Special drawing rights....
U.S. government assets, other than official reserve assets.....................................................
U.S. credits and other long-term assets...............................................................................
Repayments on U.S. credits and other long-term assets.....................................................
U.S. foreign currency holdings and U.S. short-term assets..................................................
-316
3,058
-6
70
2,994
50
51
52
53
54
U.S. private assets...................................................................................................................
Direct investment.................................................................................................................
Foreign securities.................................................................................................................
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns......................
U.S. claims reported by U.S. banks, not included elsewhere...............................................
-183,624
-47,384
-32,255
37,359
-141,344
-263
-40,974
-12
35
-40,997
118,742
-41,514
-22,936
23,644
159,548
-34
0
7
-41
55 Foreign-owned assets in the United States, excluding financial derivatives (increase/
financial inflow (+)).............................................................................................................................
252,465
-156,453
222,597
-186,644
144,193
-80,390
51,888
-107,960
56
57
58
59
60
61
62
Foreign official assets in the United States
U.S. government securities..................................................................................................
U.S. Treasury securities...................................................................................................
Other........................
Other U.S. government liabilities..........................................................................................
U.S. liabilities reported by U.S. banks, not included elsewhere............................................
Other foreign official assets..................
(2)
(2)
(2)
(2)
169
(2)
(2)
(2)
(2)
(2)
(2)
-19
(2)
(2)
(2)
(2)
(2)
(2)
250
(2)
(2)
(2)
(2)
(2)
(2)
32
(2)
(2)
(2)
Other foreign assets in the United States.................................................................................
Direct investment.................................................................................................................
U.S. Treasury securities.................................
U.S. securities other than U.S. Treasury securities..............................................................
U.S. currency.......................................................................................................................
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns...................
U.S. liabilities reported by U.S. banks, not included elsewhere.............................................
22,492
0
n
(1)
113
( ’)
(')
-178,945
47,061
41,453
-572
n.a.
-53,027
-213,860
(2)
(2)
(2)
(2)
-48
(2)
(2)
63
64
65
66
67
68
69
42,919
( 1)
( 1)
(1)
-43
(')
(’)
209,546
45,597
25,936
-3,394
n.a.
79,537
61,870
(2)
35,491
(2)
-8,250
n.a.
79,370
2116,034
(2)
43,033
(2)
-6,168
n.a.
-54,517
2—169,161
(2)
15,803
(2)
-3,373
n.a.
26,940
2104,842
(2)
26,502
(2)
-32,483
n.a.
-14,249
2-60,410
(2)
10,930
(2)
-8,669
n.a.
53,362
2-3,767
(2>
17,869
(2)
21,215
n.a.
-40,167
2-106,970
-8,062
-63,738
n.a.
97,933
-2,941
-32,866
n.a.
174,635
-2,368
-4,638
n.a.
162,161
-1,900
-18,865
n.a.
-34,178
-25,009
13,413
-11,596
15,875
-3,836
443
-30,989
8,813
-22,176
6,627
-3,208
-18,757
-21,567
11,510
-10,057
17,450
-2,244
5,149
-25,325
7,723
-17,602
7,346
-1,611
-11,868
-17,903
5,124
-12,779
19,200
-2,801
3,620
-21,526
2,319
-19,207
11,982
-2,203
-9,428
226
4,651
4,877
-2,175
760
3,462
-304
4,013
3,709
-4,726
765
-253
70 Financial derivatives, net......................................................................................................................
71 Statistical discrepancy (sum of above items with sign reversed)..............................................
0
(2)
(2)
93
n
(2)
Memoranda:
72
73
74
75
76
77
Balance on goods (lines 3 and 20)..............................................................................................
Balance on services (lines 4 and 21)...........................................................................................
Balance on goods and services (lines 2 and 19).........................................................................
Balance on income (lines 12 and 29)...........
Unilateral current transfers, net (line 35)......
Balance on current account (lines 1,18, and 35 or lines 74, 75, and 76)....................................
p Preliminary
r Revised
(*) Transactions are less than $500,000 (+/-)
1. Details not shown separately; see totals in lines 56 and 63.
2. Details not shown separately are included in line 69.
3. Estimates of financial derivatives for Mexico are included in Latin America and Other Western Hemisphere; and for
China and India, in Asia and Pacific. Estimates for the Middle East are combined with estimates for Asia and Pacific.
N ovem ber
2008
S u r v e y o f C u r r e n t B u s in e s s
D -6 1
Table F.3. U.S. International Transactions, by Area—Continues
[Millions of dollars]
Latin America and Other
Western Hemisphere
Canada
Line
(Credits +; debits -)
2008:1'
2008:11 p
2008:1'
2008:ll p
Asia and Pacific
Mexico
2008:1 ’
2008:ll e
2008:1r
Australia
2008:ll p
2008:ll p
2008:1 r
Current account
1 Exports of goods and services and income receipts....................................................................
88,741
96,287
131,405
138,992
45,749
48,109
147,450
152,891
12,581
13,414
2
Exports of goods and services................................................................................................
77,076
84,221
89,875
98,324
41,889
44,211
117,468
122,524
8,525
8,798
3
Goods, balance of payments basis......................................................................................
64,624
71,897
66,919
73,800
35,871
38,078
83,794
88,696
5,491
5,721
4
5
Services..............................................................................................................................
Transfers under U.S. military agency sales contracts.......................................................
12,452
76
12,324
124
22,956
191
24,524
196
6,018
5
6,134
3
33,675
1,409
33,828
931
3,034
480
3,077
91
4,406
1,050
884
4,195
998
933
5,355
2,037
1,720
6,556
2,150
1,861
1,761
689
388
1,811
661
420
6,221
1,715
4,969
7,970
2,035
5,509
601
165
101
903
205
116
1,689
4,330
17
11,665
11,623
5,462
6,161
0
42
1,794
4,242
39
12,066
12,024
5,980
6,044
0
42
1,815
11,792
47
41,53
@FedFRASER