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News Release: Gross Domestic Product
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format and the entire release is available in PDF
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Also available: a brief summary of highlights.
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EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, JULY 30, 2004
Virginia H. Mannering: (202) 606-5304 (GDP) BEA 04-36
Recorded message: (202) 606-5306
Brent Moulton: (202) 606-9606 (Annual Revision)
Carol Moylan: (202) 606-9715
NATIONAL INCOME AND PRODUCT ACCOUNTS
. SECOND QUARTER 2004 GDP (ADVANCE)
. REVISED ESTIMATES: 2001 THROUGH FIRST QUARTER 2004
Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 3.0 percent in the second quarter of 2004,
according to advance estimates released by the Bureau of Economic Analysis. In the first quarter, real
GDP increased 4.5 percent (revised).
The Bureau emphasized that the second-quarter "advance" estimates are based on source data that
are incomplete or subject to further revision by the source agency (see the box on page 3). The second-
quarter "preliminary" estimates, based on more comprehensive data, will be released on August 27,
2004.
BOX
The estimates released today reflect revisions in the national income and product accounts
(NIPAs) beginning with the first quarter of 2001. Revisions are usually made each July to incorporate
source data that are more complete, more detailed, and otherwise more consistent than previously
available. This release includes the revised quarterly estimates of GDP, corporate profits, and personal
income and provides an overview of the effects of the revision.
The August 2004 Survey of Current Business will contain NIPA tables and an article describing
the revisions. The revised estimates will be available from BEA's Web site (see page 7).
FOOTNOTE.--Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise
specified. Quarter-to-quarter dollar changes are differences between these published estimates. Percent
changes are calculated from unrounded data and annualized. "Real" estimates are in chained (2000)
dollars. Price indexes are chain-type measures.
This news release is available on BEA's Web site at <www.bea.gov/newsreleases/rels.htm>.
The major contributors to the increase in real GDP in the second quarter were exports, residential
fixed investment, equipment and software, personal consumption expenditures (PCE), government
spending, and private inventory investment. Imports, which are a subtraction in the calculation of GDP,
increased.
The deceleration in real GDP growth in the second quarter primarily reflected a sharp deceleration
in PCE and a deceleration in private inventory investment that were partly offset by accelerations in
exports and in residential fixed investment.
Final sales of computers contributed 0.04 percentage point to the second-quarter change in real
GDP; the contribution to the first-quarter change was 0.00 percentage point. Motor vehicle output
subtracted 1.01 percentage points from the second-quarter change in real GDP after contributing 0.30
percentage point to the first-quarter change.
The price index for gross domestic purchases, which measures prices paid by U.S. residents,
increased 3.5 percent in the second quarter, compared with an increase of 3.4 percent in the first.
Excluding food and energy prices, the price index for gross domestic purchases increased 2.4 percent in
the second quarter, compared with an increase of 2.5 percent in the first.
Real personal consumption expenditures increased 1.0 percent in the second quarter, compared
with an increase of 4.1 percent in the first. Durable goods purchases decreased 2.5 percent, in contrast to
an increase of 2.2 percent. Nondurable goods decreased 0.1 percent, in contrast to an increase of 6.7
percent. Services expenditures increased 2.3 percent, compared with an increase of 3.3 percent.
Real nonresidential fixed investment increased 8.9 percent in the second quarter, compared with an
increase of 4.2 percent in the first. Nonresidential structures increased 5.2 percent, in contrast to a
decrease of 7.6 percent. Equipment and software increased 10.0 percent, compared with an increase of
8.0 percent. Real residential fixed investment increased 15.4 percent, compared with an increase of 5.0
percent.
Real exports of goods and services increased 13.2 percent in the second quarter, compared with an
increase of 7.3 percent in the first. Real imports of goods and services increased 9.3 percent, compared
with an increase of 10.6 percent.
Real federal government consumption expenditures and gross investment increased 2.7 percent in
the second quarter, compared with an increase of 7.1 percent in the first. National defense increased 1.9
percent, compared with an increase of 10.6 percent. Nondefense increased 4.3 percent, compared with
an increase of 0.2 percent. Real state and local government consumption expenditures and gross
investment increased 2.1 percent, compared with no change in the first.
The real change in private inventories added 0.28 percentage point to the second-quarter change in
real GDP, after adding 1.17 percentage points to the first-quarter change. Private businesses increased
inventories $47.5 billion in the second quarter, following increases of $40.0 billion in the first and $8.6
billion in the fourth quarter of 2003.
Real final sales of domestic product -- GDP less change in private inventories -- increased 2.8
percent in the second quarter, compared with an increase of 3.3 percent in the first.
Gross domestic purchases
Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever
produced -- increased 3.0 percent in the second quarter, compared with an increase of 5.0 percent in the
first.
Disposition of personal income
Current-dollar personal income increased $149.4 billion (6.5 percent) in the second quarter,
compared with an increase of $135.4 billion (5.9 percent) in the first. Personal current taxes increased
$19.9 billion, compared with an increase of $1.0 billion.
Disposable personal income increased $129.5 billion in the second quarter, compared with an
increase of $134.5 billion in the first. Real disposable personal income increased 2.9 percent, compared
with an increase of 3.2 percent.
Personal outlays increased $90.9 billion (4.4 percent) in the second quarter, compared with an
increase of $142.2 billion (7.1 percent) in the first. Personal saving -- disposable personal income less
personal outlays -- was $142.0 billion in the second quarter, compared with $103.4 billion in the first.
The personal saving rate -- saving as a percentage of disposable personal income -- increased from 1.2
percent in the first quarter to 1.7 percent in the second.
Current-dollar GDP
Current-dollar GDP the market value of the nation's output of goods and services -- increased 6.3
percent, or $176.7 billion, in the second quarter to a level of $11,649.3 billion. In the first quarter,
current-dollar GDP increased 7.4 percent, or $201.7 billion.
BOX
Information on the assumptions used for unavailable source data is provided in a technical note
that is posted with the news release on BEA's Web site. Within a few days after the release, a detailed
"Key Source Data and Assumptions" file is posted on the Web site. In the middle of each month, an
analysis of the current quarterly estimates of GDP and related series is made available on the Web site;
click on Survey of Current Business, "Business Situation."
Revision of the National Income and Product Accounts
The revised estimates, which begin with 2001, reflect the results of the regular annual revision of
the national income and product accounts (NIPAs). These revisions, usually made each July, incorporate
newly available and more comprehensive source data, as well as improved estimating methodologies.
Because of the additional data shown, tables 3, 11, and 12 are each divided into two separate tables -- 3A
and 3B, 11A and 11B, and 12A and 12B.
There are also a number of special tables that compare the revised and previously published
estimates for selected periods: Table 1A shows the percent change in real GDP and related measures;
table 1B shows revisions to current-dollar GDP, to national income, and to disposition of personal
income; table 2A shows contributions to the percent change in real GDP; table 4A shows the percent
change in the chain-type price indexes for GDP and related measures; and table 12C shows revisions to
corporate profits by industry.
This section of the release discusses the highlights of the revisions and describes their sources.
Summary of major revisions
. From 2000 to 2003, real GDP grew at an average annual rate of 1.9 percent, the same as in the
previously published estimates. The average annual rate of growth of real GDP from 2000:IV to
2004:I is unchanged at 2.5 percent. Revisions to year-to-year growth rates were small.
. The 2001 downturn and the subsequent recovery are both milder than previously estimated. In the
previously published estimates, real GDP peaked in the fourth quarter of 2000 and then decreased
in each of the next three quarters; in the revised estimates, real GDP decreased in the first quarter
of 2001 but increased in the second -- to a level higher than in the fourth quarter of 2000 -- before
decreasing again in the third quarter. From the fourth quarter of 2000 to the third quarter of 2001,
the revised estimates show that real GDP decreased at an annual rate of 0.2 percent; the previously
published estimates showed a decrease of 0.7 percent. From the third quarter of 2001 to the first
quarter of 2004, the revised estimates show that real GDP increased at an average annual rate of
3.3 percent; the previously published estimates showed an average increase of 3.4 percent.
. The decline in real GDP from the second quarter of 2001 to the third quarter of 2001 is 0.4 percent
(not at an annual rate). The total decline in the previously published estimates from the previous
peak in the fourth quarter of 2000 to the third quarter of 2001 had been 0.5 percent (not at an
annual rate).
. The largest quarterly revisions to the percent change in real GDP were for the second quarter of
2001 (from -0.6 percent to + 1.2 percent), for the first quarter of 2002 (from 4.7 percent to 3.4
percent), and for the second quarter of 2003 (from 3.1 percent to 4.1 percent). For the 13 quarters
from 2001:I to 2004:I the average revision (without regard to sign) was 0.6 percentage point.
. The average annual rate of growth of real disposable personal income from 2000 to 2003 was
revised from 2.7 percent to 2.4 percent.
Revisions to 2001-2003 estimates
The percent change from the preceding year in real GDP was revised up from 0.5 percent to 0.8
percent for 2001, was revised down from 2.2 percent to 1.9 percent for 2002, and was revised down
from 3.1 percent to 3.0 percent for 2003.
For 2001, the largest contributor to the upward revision to real GDP growth was state and local
consumption expenditures and gross investment, but most other components also contributed. For 2002,
the largest contributors to the downward revision were fixed investment in equipment and software,
personal consumption expenditures (PCE) for services, and PCE for nondurable goods; the contributions
of these components were partly offset by an upward revision to state and local consumption
expenditures and gross investment. For 2003, the slight downward revision was attributable to generally
small and mostly offsetting revisions to many components.
The percent change from fourth quarter to fourth quarter in real GDP was revised up from 0.0
percent to 0.2 percent for 2001, was revised down from 2.8 percent to 2.3 percent for 2002, and was
revised up from 4.3 percent to 4.4 percent for 2003.
The percent change from the preceding year in the price index for gross domestic purchases was
unrevised at 2.0 percent for 2001, was revised up from 1.4 percent to 1.5 percent for 2002, and was
revised up from 1.9 percent to 2.0 percent for 2003. For the quarters of 2001 to 2003, the percent change
in the price index was revised up for eight quarters, was revised down for one quarter (0.1 percentage
point for the third quarter of 2003), and was unchanged for three quarters; the largest upward revision
was 0.3 percentage point (first quarter of 2003).
Current-dollar GDP was revised up $27.2 billion, or 0.3 percent, for 2001; was revised up $6.2
billion, or 0.1 percent, for 2002; and was revised up $16.1 billion, or 0.1 percent, for 2003. The percent
change from the preceding year was revised up from 2.9 percent to 3.2 percent for 2001, was revised
down from 3.8 percent to 3.5 percent for 2002, and was revised up from 4.8 percent to 4.9 percent for
2003. Current-dollar GNP (GDP plus net income receipts from the rest of the world) was revised up
$35.7 billion, or 0.4 percent, for 2001; was revised up $11.8 billion, or 0.1 percent, for 2002; and was
revised up $27.6 billion, or 0.3 percent, for 2003. Net income receipts was revised up for all 3 years:
$8.4 billion for 2001, $5.6 billion for 2002, and $11.4 billion for 2003. The revisions to net income
receipts -- which affect GNP, national income, corporate profits, net interest and miscellaneous
payments, and personal interest income -- stem from the revisions to BEA's international transactions
accounts (ITAs) that were released in June. Although the revisions to the ITAs extended back to 1989,
the revisions prior to 2001 are not incorporated into the NIPA's at this time. (An article describing the
revisions to the ITAs was published in the July 2004 issue of the Survey of Current Business.)
National income was revised down $1.4 billion, or less than 0.1 percent, for 2001; was revised
down $65.4 billion, or 0.7 percent, for 2002; and was revised down $28.2 billion, or 0.3 percent, for
2003. For both 2002 and 2003, downward revisions to net interest and miscellaneous payments, to
corporate profits, to nonfarm proprietors' income, and to business current transfer payments (net) more
than offset upward revisions to supplements to wages and salaries.
Corporate profits from current production -- profits before tax with inventory valuation and capital
consumption adjustments -- was revised down for all 3 years: $3.1 billion, or 0.4 percent, for 2001;
$29.6 billion, or 3.3 percent, for 2002; and $48.8 billion, or 4.6 percent, for 2003. For all 3 years,
downward revisions to the capital consumption adjustment more than offset upward revisions to profits
before tax. For all 3 years, downward revisions to profits of domestic nonfinancial corporations more
than offset upward revisions to profits of domestic financial corporations and to profits from the rest of
the world.
Personal income was revised up $11.0 billion, or 0.1 percent, for 2001; was revised down $31.4
billion, or 0.4 percent, for 2002; and was revised down $46.2 billion, or 0.5 percent, for 2003. For 2001,
upward revisions to personal interest income and to nonfarm proprietors' income more than offset a
downward revision to farm proprietors' income. For 2002 and 2003, downward revisions to personal
income receipts on assets, to nonfarm proprietors' income, and to personal current transfer receipts more
than offset upward revisions to supplements to wages and salaries.
Disposable personal income (DPI) (personal income less personal current taxes) was revised up
$17.4 billion, or 0.2 percent, for 2001; was revised down $29.5 billion, or 0.4 percent, for 2002; and was
revised down $56.6 billion, or 0.7 percent, for 2003. The revisions were roughly similar to those to
personal income, reflecting relatively small revisions to personal current taxes. Personal current taxes
was revised down $6.4 billion for 2001, was revised down $1.9 billion for 2002, and was revised up
$10.5 billion for 2003. The percent change from the preceding year in real DPI was revised up from 1.8
percent to 1.9 percent for 2001, was revised down from 3.8 percent to 3.1 percent for 2002, and was
revised down from 2.7 percent to 2.3 percent for 2003.
Personal outlays was revised up $12.3 billion for 2001, was revised down $5.5 billion for 2002,
and was revised up $6.3 billion for 2003. Revisions to PCE accounted for most of the 2001 revision and
more than accounted for the 2002 revision. The 2003 revision was accounted for by revisions to PCE
and to personal current transfer payments. The personal saving rate (personal saving as a percentage of
DPI) was revised up from 1.7 percent to 1.8 percent for 2001, was revised down from 2.3 percent to 2.0
percent for 2002, and was revised down from 2.1 percent to 1.4 percent for 2003.
The statistical discrepancy is current-dollar GDP less current-dollar gross domestic income (GDI).
It arises because most components of GDP and of GDI are estimated independently. GDP measures
final expenditures -- the sum of consumer spending, private investment, net exports, and government
spending. GDI measures the incomes earned in the production of GDP. In concept, GDP is equal to
GDI. In practice, they differ because they are estimated using less than perfectly consistent source data.
As a result of the annual revision, the statistical discrepancy as a percentage of GDP was revised
from -1.1 percent to -0.9 percent for 2001, from -0.7 percent to -0.1 percent for 2002, and from +0.1
percent to +0.2 percent for 2003. The revisions to the discrepancy for 2001 and 2003 reflected larger
upward revisions to GDP than to GDI. For 2002, the revision to the discrepancy mainly reflected a
downward revision to GDI.
New source data
The annual revision incorporated data from the following major federal statistical sources:
Preliminary results from the 2002 Economic Census; Census Bureau annual surveys of merchant
wholesale trade and of retail trade for 2002 and revised monthly indicators for 2001-2003 of merchant
wholesale trade and of retail trade; Census Bureau annual surveys of services for 2002 (revised) and
2003 (preliminary), and of state and local governments for 2001 (revised) and 2002 (preliminary);
Census Bureau monthly survey of construction put-in-place for 2001-2003 (revised); federal government
budget data for fiscal years 2003 and 2004; Internal Revenue Service tabulations of tax returns for
corporations for 2001 (revised) and 2002 (preliminary) and for sole proprietorships and partnerships for
2002; Bureau of Labor Statistics quarterly census of employment and wages for 2003 (revised);
Department of Agriculture farm statistics for 2001-2003; and BEA's ITAs for 2001-2003 (revised). A
table showing the major current-dollar revisions and their sources for each component of GDP, national
income, and personal income will be published in the August 2004 issue of the Survey of Current
Business.
BEA's major national, international, regional, and industry estimates; the Survey of Current
Business; and BEA news releases are available without charge on BEA's Web site:
<www.bea.gov>
Summary BEA estimates are available on recorded messages at the time of public release at the
following telephone numbers:
(202) 606-5306 Gross domestic product
(202) 606-5303 Personal income and outlays
(202) 606-5362 U.S. international transactions
Most of BEA's estimates and analyses are published in the Survey of Current Business, BEA's
monthly journal. Subscriptions and single copies of the printed Survey are for sale by the
Superintendent of Documents, U.S. Government Printing Office. Internet: <bookstore.gpo.gov>;
phone: 202-512-1800; fax: 202-512-2250; mail: Stop SSOP, Washington, DC 20402-0001.
* * *
Next release -- August 27, 2004, at 8:30 A.M. EDT for:
Gross Domestic Product: Second Quarter 2004 (Preliminary)
Corporate Profits: Second Quarter 2004
Table 1.--Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period
[Quarters seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2000 2001 2002 2003 IV 00 I 01 II 01 III 01 IV 01 I 02 II 02 III 02 IV 02 I 03 II 03 III 03 IV 03 I 04 II 04
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product (GDP). 3.7 .8 1.9 3.0 2.1 -.5 1.2 -1.4 1.6 3.4 2.4 2.6 .7 1.9 4.1 7.4 4.2 4.5 3.0
Personal consumption expenditures... 4.7 2.5 3.1 3.3 3.4 1.7 1.0 1.8 7.0 1.8 2.8 2.9 2.5 2.7 3.9 5.0 3.6 4.1 1.0
Durable goods..................... 7.3 4.3 6.5 7.4 .7 6.7 -.3 3.1 37.4 -8.5 4.4 14.0 -2.4 -.1 20.6 16.5 3.9 2.2 -2.5
Nondurable goods.................. 3.8 2.0 2.6 3.7 3.7 .5 -.1 2.4 4.9 3.8 .8 -.6 5.3 5.0 1.6 6.9 5.1 6.7 -.1
Services.......................... 4.5 2.4 2.6 2.2 3.9 1.1 1.8 1.2 2.3 3.3 3.5 2.4 2.2 2.1 1.8 1.9 2.8 3.3 2.3
Gross private domestic investment... 5.7 -7.9 -2.4 4.4 -2.3 -13.6 -7.6 -10.5 -22.7 16.8 .3 4.1 -.5 -.8 3.5 22.4 13.9 12.3 12.8
Fixed investment.................. 6.5 -3.0 -4.9 5.1 .7 -2.6 -8.7 -4.5 -10.6 -4.3 -3.5 .2 -.8 2.4 10.9 18.0 10.5 4.5 11.1
Nonresidential.................. 8.7 -4.2 -8.9 3.3 .9 -4.2 -13.6 -6.8 -13.3 -9.7 -9.6 -1.1 -3.2 -.1 11.8 15.7 11.0 4.2 8.9
Structures.................... 6.8 -2.3 -17.8 -5.6 1.2 -8.3 -4.0 6.0 -33.2 -18.5 -22.6 -16.0 -6.6 -13.0 14.5 -1.3 7.9 -7.6 5.2
Equipment and software........ 9.4 -4.9 -5.5 6.4 .8 -2.8 -16.9 -11.4 -4.2 -6.3 -4.5 4.6 -2.0 4.5 11.0 21.7 12.0 8.0 10.0
Residential..................... .8 .4 4.8 8.8 .4 2.2 5.6 1.8 -3.7 9.3 11.3 2.8 4.2 7.5 9.1 22.4 9.6 5.0 15.4
Change in private inventories..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... .....
Net exports of goods and services... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... .....
Exports........................... 8.7 -5.4 -2.3 1.9 -2.7 -5.3 -12.7 -18.2 -10.8 4.7 11.0 3.1 -4.2 -1.5 -1.6 11.3 17.5 7.3 13.2
Goods........................... 11.2 -6.1 -4.1 2.2 -5.4 -5.4 -17.1 -20.0 -8.8 -1.9 14.0 2.9 -10.2 4.0 -.8 10.1 16.1 9.1 14.6
Services........................ 2.9 -3.7 1.8 1.4 4.4 -5.0 -.7 -13.7 -15.3 21.7 4.5 3.5 10.5 -12.7 -3.4 14.1 20.6 3.4 10.0
Imports........................... 13.1 -2.7 3.4 4.4 -1.6 -3.7 -12.6 -10.3 -3.4 12.5 11.4 5.4 9.6 -2.0 2.5 2.8 17.1 10.6 9.3
Goods........................... 13.5 -3.2 3.7 4.7 -1.6 -3.4 -16.9 -8.6 -2.0 10.1 15.3 5.9 8.2 -1.8 5.1 .0 18.4 12.7 8.7
Services........................ 11.1 -.3 1.9 3.1 -1.9 -5.0 12.8 -18.3 -10.4 24.7 -5.8 2.8 16.6 -2.6 -9.4 17.9 11.1 1.2 12.7
Government consumption expenditures
and gross investment............... 2.1 3.4 4.4 2.8 1.3 5.3 7.9 -1.5 8.5 4.7 4.4 2.1 4.0 .2 7.2 .1 1.6 2.5 2.3
Federal........................... .9 3.9 7.5 6.6 -1.0 8.1 9.1 .0 8.8 8.2 12.8 2.9 9.1 .3 22.1 -3.3 4.8 7.1 2.7
National defense................ -.5 3.9 7.7 9.0 1.7 7.0 4.3 2.4 12.5 5.8 11.5 3.4 13.5 -2.7 38.4 -7.7 11.6 10.6 1.9
Nondefense...................... 3.5 3.9 7.1 2.4 -5.7 10.1 18.0 -3.9 2.3 12.6 15.0 1.9 1.6 6.2 -3.9 5.8 -7.5 .2 4.3
State and local................... 2.7 3.2 2.8 .7 2.5 4.0 7.2 -2.3 8.4 2.9 .3 1.7 1.4 .1 -.4 2.2 -.1 .0 2.1
Addenda:
Final sales of domestic product... 3.8 1.6 1.4 3.1 2.6 1.6 1.0 -.4 3.8 .3 1.8 2.0 .7 2.4 5.2 6.8 3.7 3.3 2.8
Gross domestic purchases.......... 4.4 .9 2.5 3.3 2.1 -.4 .7 -.8 2.2 4.4 2.8 2.9 2.4 1.7 4.4 6.4 4.7 5.0 3.0
Final sales to domestic
purchasers....................... 4.5 1.8 2.1 3.4 2.6 1.5 .5 .2 4.3 1.4 2.2 2.4 2.3 2.2 5.4 5.9 4.2 3.9 2.7
Gross national product (GNP)...... 3.7 .8 1.7 3.3 3.0 -1.1 1.5 -2.5 3.9 1.4 2.1 3.0 1.4 1.7 4.4 7.6 5.5 3.9 .....
Disposable personal income........ 4.8 1.9 3.1 2.3 .6 1.3 -1.7 11.5 -5.6 10.8 2.7 -1.7 .2 1.8 4.3 8.2 1.4 3.2 2.9
Current-dollar measures:
GDP............................. 5.9 3.2 3.5 4.9 3.8 2.8 4.4 .2 3.6 4.5 4.2 3.9 2.7 4.9 5.3 8.8 5.7 7.4 6.3
Final sales of domestic product. 6.1 4.1 3.1 5.1 4.5 4.9 4.2 1.2 5.5 1.7 3.3 3.7 2.7 5.3 6.3 8.4 5.4 6.1 6.0
Gross domestic purchases........ 7.0 2.9 4.0 5.4 3.7 2.2 3.0 .2 3.1 5.3 5.6 4.4 4.3 5.7 4.8 8.1 5.9 8.6 6.5
Final sales to domestic
purchasers..................... 7.2 3.8 3.6 5.5 4.4 4.3 2.8 1.2 4.9 2.6 4.7 4.2 4.3 6.0 5.8 7.7 5.7 7.4 6.2
GNP............................. 6.0 3.2 3.4 5.2 4.7 2.1 4.6 -.8 6.0 2.4 3.9 4.3 3.4 4.6 5.6 9.0 7.0 6.8 .....
Disposable personal income...... 7.5 4.1 4.6 4.2 2.4 4.6 .8 12.1 -5.0 11.8 5.7 .2 1.5 5.1 5.0 9.9 2.6 6.6 6.3
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
See "Explanatory Note" at the end of the tables.
Table 1A.--Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period
[Quarters seasonally adjusted at annual rates]
------------------------------------------------------------------------------------------------------------------------------------------------------------------
2000 2001 2002 2003 IV 00 I 01 II 01 III 01 IV 01 I 02 II 02 III 02 IV 02 I 03 II 03 III 03 IV 03 I 04
------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product (GDP). 3.7 .8 1.9 3.0 2.1 -.5 1.2 -1.4 1.6 3.4 2.4 2.6 .7 1.9 4.1 7.4 4.2 4.5
Previously published....... 3.7 .5 2.2 3.1 2.1 -.2 -.6 -1.3 2.0 4.7 1.9 3.4 1.3 2.0 3.1 8.2 4.1 3.9
Personal consumption expenditures... 4.7 2.5 3.1 3.3 3.4 1.7 1.0 1.8 7.0 1.8 2.8 2.9 2.5 2.7 3.9 5.0 3.6 4.1
Previously published.............. 4.7 2.5 3.4 3.1 3.4 .5 2.3 1.9 6.2 4.1 2.6 2.0 2.2 2.5 3.3 6.9 3.2 3.8
Durable goods..................... 7.3 4.3 6.5 7.4 .7 6.7 -.3 3.1 37.4 -8.5 4.4 14.0 -2.4 -.1 20.6 16.5 3.9 2.2
Previously published............ 7.3 4.1 6.5 7.4 .7 1.7 9.8 .7 27.3 1.6 .5 5.0 .3 .5 17.7 28.0 .7 -3.7
Nondurable goods.................. 3.8 2.0 2.6 3.7 3.7 .5 -.1 2.4 4.9 3.8 .8 -.6 5.3 5.0 1.6 6.9 5.1 6.7
Previously published............ 3.8 1.9 3.0 3.8 3.7 .4 -1.1 2.9 4.7 6.1 .4 .2 4.6 5.7 1.2 7.3 5.4 6.9
Services.......................... 4.5 2.4 2.6 2.2 3.9 1.1 1.8 1.2 2.3 3.3 3.5 2.4 2.2 2.1 1.8 1.9 2.8 3.3
Previously published............ 4.5 2.4 3.0 2.0 3.9 .3 2.4 1.6 2.8 3.8 4.1 2.2 1.5 1.5 1.7 2.8 2.8 3.9
Gross private domestic investment... 5.7 -7.9 -2.4 4.4 -2.3 -13.6 -7.6 -10.5 -22.7 16.8 .3 4.1 -.5 -.8 3.5 22.4 13.9 12.3
Previously published.............. 5.7 -8.4 -1.2 4.2 -2.3 -11.1 -16.4 -8.5 -17.7 11.1 4.6 11.4 -.6 -3.5 4.7 14.8 14.9 9.4
Fixed investment.................. 6.5 -3.0 -4.9 5.1 .7 -2.6 -8.7 -4.5 -10.6 -4.3 -3.5 .2 -.8 2.4 10.9 18.0 10.5 4.5
Previously published............ 6.5 -3.2 -3.7 4.4 .7 -2.7 -9.2 -5.2 -10.8 -2.5 .6 .6 2.1 1.1 6.1 15.8 9.9 5.0
Nonresidential.................. 8.7 -4.2 -8.9 3.3 .9 -4.2 -13.6 -6.8 -13.3 -9.7 -9.6 -1.1 -3.2 -.1 11.8 15.7 11.0 4.2
Previously published.......... 8.7 -4.5 -7.2 3.0 .9 -4.5 -13.6 -8.4 -14.0 -7.0 -3.0 -1.1 -.1 -.6 7.0 12.8 10.9 5.3
Structures.................... 6.8 -2.3 -17.8 -5.6 1.2 -8.3 -4.0 6.0 -33.2 -18.5 -22.6 -16.0 -6.6 -13.0 14.5 -1.3 7.9 -7.6
Previously published........ 6.8 -2.5 -18.4 -4.6 1.2 -5.9 -5.6 2.2 -35.3 -23.9 -14.5 -14.6 -5.6 -4.0 3.9 -1.8 -1.4 -7.4
Equipment and software........ 9.4 -4.9 -5.5 6.4 .8 -2.8 -16.9 -11.4 -4.2 -6.3 -4.5 4.6 -2.0 4.5 11.0 21.7 12.0 8.0
Previously published........ 9.4 -5.2 -2.8 5.5 .8 -4.0 -16.4 -12.2 -4.1 -.2 1.2 3.7 1.7 .5 8.0 17.6 14.9 9.2
Residential..................... .8 .4 4.8 8.8 .4 2.2 5.6 1.8 -3.7 9.3 11.3 2.8 4.2 7.5 9.1 22.4 9.6 5.0
Previously published.......... .8 .4 4.9 7.5 .4 2.6 3.7 3.1 -2.5 8.7 8.9 4.2 6.8 4.5 4.5 21.9 7.9 4.6
Change in private inventories..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... .....
Net exports of goods and services... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... .....
Exports........................... 8.7 -5.4 -2.3 1.9 -2.7 -5.3 -12.7 -18.2 -10.8 4.7 11.0 3.1 -4.2 -1.5 -1.6 11.3 17.5 7.3
Previously published............ 8.7 -5.2 -2.4 2.0 -2.7 -4.5 -13.4 -17.7 -9.8 4.4 8.7 4.3 -3.7 -2.0 -1.1 9.9 20.5 7.5
Goods........................... 11.2 -6.1 -4.1 2.2 -5.4 -5.4 -17.1 -20.0 -8.8 -1.9 14.0 2.9 -10.2 4.0 -.8 10.1 16.1 9.1
Previously published.......... 11.2 -6.1 -4.0 1.9 -5.4 -5.4 -18.1 -18.9 -7.6 -2.6 12.0 4.3 -9.1 1.9 -1.7 8.6 21.3 9.4
Services........................ 2.9 -3.7 1.8 1.4 4.4 -5.0 -.7 -13.7 -15.3 21.7 4.5 3.5 10.5 -12.7 -3.4 14.1 20.6 3.4
Previously published.......... 2.9 -3.1 1.4 2.3 4.4 -2.0 -.6 -14.7 -15.0 22.8 1.6 4.5 9.4 -10.1 .2 12.7 18.9 3.3
Imports........................... 13.1 -2.7 3.4 4.4 -1.6 -3.7 -12.6 -10.3 -3.4 12.5 11.4 5.4 9.6 -2.0 2.5 2.8 17.1 10.6
Previously published............ 13.1 -2.6 3.3 4.0 -1.6 -6.2 -8.6 -10.8 -3.8 8.4 17.1 4.1 8.2 -6.8 9.1 .8 16.4 10.4
Goods........................... 13.5 -3.2 3.7 4.7 -1.6 -3.4 -16.9 -8.6 -2.0 10.1 15.3 5.9 8.2 -1.8 5.1 .0 18.4 12.7
Previously published.......... 13.5 -3.2 3.7 4.8 -1.6 -6.8 -12.2 -9.2 -3.2 6.3 21.9 4.8 7.4 -6.6 13.7 -1.5 18.3 12.2
Services........................ 11.1 -.3 1.9 3.1 -1.9 -5.0 12.8 -18.3 -10.4 24.7 -5.8 2.8 16.6 -2.6 -9.4 17.9 11.1 1.2
Previously published.......... 11.1 .4 1.4 -.1 -1.9 -3.1 12.5 -18.2 -6.9 19.2 -3.6 .7 12.2 -7.5 -10.9 13.4 7.5 1.9
Government consumption expenditures
and gross investment............... 2.1 3.4 4.4 2.8 1.3 5.3 7.9 -1.5 8.5 4.7 4.4 2.1 4.0 .2 7.2 .1 1.6 2.5
Previously published............. 2.1 2.8 3.8 3.3 1.3 5.8 5.8 -4.1 7.4 4.6 4.0 2.5 7.1 -.4 7.4 1.8 -.1 3.0
Federal........................... .9 3.9 7.5 6.6 -1.0 8.1 9.1 .0 8.8 8.2 12.8 2.9 9.1 .3 22.1 -3.3 4.8 7.1
Previously published............ .9 3.7 7.9 8.7 -1.0 8.9 6.7 .0 9.9 8.4 10.5 3.9 18.2 -.2 23.5 1.2 .7 8.5
National defense................ -.5 3.9 7.7 9.0 1.7 7.0 4.3 2.4 12.5 5.8 11.5 3.4 13.5 -2.7 38.4 -7.7 11.6 10.6
Previously published.......... -.5 3.9 8.9 10.6 1.7 7.7 2.6 2.4 14.2 8.2 9.5 4.5 22.1 -5.6 41.9 -1.3 3.0 13.2
Nondefense...................... 3.5 3.9 7.1 2.4 -5.7 10.1 18.0 -3.9 2.3 12.6 15.0 1.9 1.6 6.2 -3.9 5.8 -7.5 .2
Previously published.......... 3.5 3.5 6.2 5.3 -5.7 11.2 14.4 -4.3 2.6 8.7 12.2 2.9 11.4 10.5 -5.0 6.5 -3.7 -.3
State and local................... 2.7 3.2 2.8 .7 2.5 4.0 7.2 -2.3 8.4 2.9 .3 1.7 1.4 .1 -.4 2.2 -.1 .0
Previously published............ 2.7 2.2 1.8 .5 2.5 4.3 5.3 -6.1 6.1 2.7 .7 1.7 1.5 -.5 -.8 2.1 -.5 -.3
Addenda:
Final sales of domestic product... 3.8 1.6 1.4 3.1 2.6 1.6 1.0 -.4 3.8 .3 1.8 2.0 .7 2.4 5.2 6.8 3.7 3.3
Previously published............ 3.8 1.4 1.8 3.2 2.6 1.4 .7 -.7 3.2 2.6 1.3 1.8 1.7 2.7 3.3 8.3 3.4 3.2
Gross domestic purchases.......... 4.4 .9 2.5 3.3 2.1 -.4 .7 -.8 2.2 4.4 2.8 2.9 2.4 1.7 4.4 6.4 4.7 5.0
Previously published............ 4.4 .7 2.8 3.3 2.1 -.7 -.4 -.8 2.4 5.2 3.1 3.4 2.7 1.1 4.3 7.0 4.3 4.4
Final sales to domestic
purchasers....................... 4.5 1.8 2.1 3.4 2.6 1.5 .5 .2 4.3 1.4 2.2 2.4 2.3 2.2 5.4 5.9 4.2 3.9
Previously published........... 4.5 1.6 2.4 3.4 2.6 .9 .9 -.3 3.6 3.2 2.5 1.8 3.1 1.8 4.5 7.2 3.6 3.8
Gross national product (GNP)...... 3.7 .8 1.7 3.3 3.0 -1.1 1.5 -2.5 3.9 1.4 2.1 3.0 1.4 1.7 4.4 7.6 5.5 3.9
Previously published............ 3.7 .5 2.1 3.3 3.0 -1.3 -.6 -1.9 4.6 2.6 1.3 3.8 2.0 1.5 3.3 8.3 5.5 3.4
Disposable personal income........ 4.8 1.9 3.1 2.3 .6 1.3 -1.7 11.5 -5.6 10.8 2.7 -1.7 .2 1.8 4.3 8.2 1.4 3.2
Previously published............ 4.8 1.8 3.8 2.7 .6 -.3 -1.4 12.2 -4.4 10.6 4.1 -.9 .6 2.4 4.9 6.8 1.2 4.9
Current-dollar measures:
GDP............................. 5.9 3.2 3.5 4.9 3.8 2.8 4.4 .2 3.6 4.5 4.2 3.9 2.7 4.9 5.3 8.8 5.7 7.4
Previously published.......... 5.9 2.9 3.8 4.8 3.8 2.9 2.6 .3 3.9 5.4 3.9 4.4 3.1 4.3 4.2 10.0 5.7 6.9
Final sales of domestic product. 6.1 4.1 3.1 5.1 4.5 4.9 4.2 1.2 5.5 1.7 3.3 3.7 2.7 5.3 6.3 8.4 5.4 6.1
Previously published.......... 6.1 3.9 3.3 4.9 4.5 4.5 4.0 .9 4.8 3.8 2.8 3.3 3.5 5.1 4.4 10.1 5.0 6.2
Gross domestic purchases........ 7.0 2.9 4.0 5.4 3.7 2.2 3.0 .2 3.1 5.3 5.6 4.4 4.3 5.7 4.8 8.1 5.9 8.6
Previously published.......... 7.0 2.7 4.2 5.3 3.7 1.9 1.9 .2 3.3 5.8 6.1 4.6 4.5 4.5 4.7 8.9 5.7 8.1
Final sales to domestic
purchasers..................... 7.2 3.8 3.6 5.5 4.4 4.3 2.8 1.2 4.9 2.6 4.7 4.2 4.3 6.0 5.8 7.7 5.7 7.4
Previously published......... 7.2 3.6 3.8 5.4 4.4 3.5 3.3 .7 4.1 4.2 5.0 3.5 4.8 5.3 4.8 9.1 5.0 7.5
GNP............................. 6.0 3.2 3.4 5.2 4.7 2.1 4.6 -.8 6.0 2.4 3.9 4.3 3.4 4.6 5.6 9.0 7.0 6.8
Previously published.......... 6.0 2.8 3.6 5.0 4.7 1.8 2.5 -.3 6.5 3.3 3.3 4.9 3.9 3.9 4.4 10.1 7.1 6.3
Disposable personal income...... 7.5 4.1 4.6 4.2 2.4 4.6 .8 12.1 -5.0 11.8 5.7 .2 1.5 5.1 5.0 9.9 2.6 6.6
Previously published.......... 7.5 3.8 5.2 4.6 2.4 2.9 1.1 12.8 -4.1 11.4 7.2 1.1 2.3 5.3 5.4 8.7 2.2 8.3
------------------------------------------------------------------------------------------------------------------------------------------------------------------
See "Explanatory Note" at the end of the tables.
Table 1B.--Revisions to Current-Dollar Gross Domestic Product, National Income, and Disposition of Personal Income
---------------------------------------------------------------------------------------------------------------------------------
Billions of dollars
------------------------ ------------------------ Revisions as
Revised Revisions to percent of
estimates previously previously
published published
------------------------ ------------------------ ------------------------
2001 2002 2003 2001 2002 2003 2001 2002 2003
---------------------------------------------------------------------------------------------------------------------------------
Gross domestic product (GDP)....... 10,128.0 10,487.0 11,004.0 27.2 6.2 16.1 .3 .1 .1
Personal consumption expenditures...... 7,055.0 7,376.1 7,760.9 9.6 -9.2 3.5 .1 -.1 .0
Durable goods........................ 883.7 916.2 950.7 1.8 4.9 9.1 .2 .5 1.0
Nondurable goods..................... 2,017.1 2,080.1 2,200.1 3.5 -5.9 -9.6 .2 -.3 -.4
Services............................. 4,154.3 4,379.8 4,610.1 4.5 -8.2 3.9 .1 -.2 .1
Gross private domestic investment...... 1,614.3 1,579.2 1,665.8 7.1 -10.0 -4.8 .4 -.6 -.3
Fixed investment..................... 1,646.1 1,568.0 1,667.0 2.7 -15.9 -6.0 .2 -1.0 -.4
Nonresidential..................... 1,176.8 1,063.9 1,094.7 2.7 -16.3 -15.9 .2 -1.5 -1.4
Structures....................... 322.6 271.6 261.6 .5 5.3 2.4 .2 2.0 .9
Equipment and software........... 854.2 792.4 833.1 2.2 -21.5 -18.2 .3 -2.6 -2.1
Residential........................ 469.3 504.1 572.3 .1 .4 9.9 .0 .1 1.8
Change in private inventories........ -31.7 11.2 -1.2 4.4 5.8 1.2 ..... ..... .....
Net exports of goods and services...... -367.0 -424.9 -498.1 -.5 1.4 -3.1 ..... ..... .....
Exports.............................. 1,032.8 1,005.0 1,046.2 -2.3 -1.8 -2.7 -.2 -.2 -.3
Goods.............................. 731.2 697.0 726.4 -.3 -.8 .9 .0 -.1 .1
Services........................... 301.6 308.0 319.8 -2.0 -1.1 -3.6 -.7 -.4 -1.1
Imports.............................. 1,399.8 1,429.9 1,544.3 -1.9 -3.2 .5 -.1 -.2 .0
Goods.............................. 1,167.9 1,189.6 1,282.0 -.1 -.7 -1.3 .0 -.1 -.1
Services........................... 231.9 240.2 262.3 -1.7 -2.5 1.8 -.7 -1.0 .7
Government consumption expenditures
and gross investment.................. 1,825.6 1,956.6 2,075.5 10.9 24.1 20.7 .6 1.2 1.0
Federal.............................. 612.9 680.8 752.2 .0 1.3 -5.0 .0 .2 -.7
National defense................... 392.6 437.4 496.4 -.4 -.9 -.9 -.1 -.2 -.2
Nondefense......................... 220.3 243.4 255.7 .4 2.2 -4.2 .2 .9 -1.6
State and local...................... 1,212.8 1,275.8 1,323.3 11.0 22.7 25.7 .9 1.8 2.0
Relation of GDP and National Income
Gross domestic product................. 10,128.0 10,487.0 11,004.0 27.2 6.2 16.1 .3 .1 .1
Plus: Income receipts
from the rest of the world............ 322.4 301.8 329.0 3.4 2.7 11.7 1.1 .9 3.7
Less: Income payments to
the rest of the world................. 278.8 274.7 273.9 -5.0 -2.9 .3 -1.8 -1.0 .1
Equals: Gross national product......... 10,171.6 10,514.1 11,059.2 35.7 11.8 27.6 .4 .1 .3
Less: Consumption of fixed capital..... 1,281.5 1,303.9 1,353.9 14.6 15.3 43.0 1.2 1.2 3.3
Less: Statistical discrepancy.......... -89.6 -15.3 25.6 22.6 61.9 12.7 ..... ..... .....
Equals: National income................ 8,979.8 9,225.4 9,679.6 -1.4 -65.4 -28.2 .0 -.7 -.3
Compensation of employees............ 5,942.1 6,069.5 6,289.0 1.7 50.4 86.0 .0 .8 1.4
Wage and salary accruals........... 4,942.8 4,976.3 5,103.6 -.1 1.7 3.4 .0 .0 .1
Supplements to wages and
salaries.......................... 999.3 1,093.2 1,185.5 1.7 48.7 82.7 .2 4.7 7.5
Proprietors' income with inventory
valuation and capital
consumption adjustments............. 771.9 769.6 834.1 1.3 -28.1 -12.8 .2 -3.5 -1.5
Rental income of persons with
capital consumption adjustment...... 167.4 170.9 153.8 4.3 -2.1 -10.4 2.6 -1.2 -6.3
Corporate profits with inventory
valuation and capital
consumption adjustments............. 767.3 874.6 1,021.1 -3.1 -29.6 -48.8 -.4 -3.3 -4.6
Net interest and miscellaneous
payments............................ 566.3 532.9 543.0 -2.1 -49.5 -40.2 -.4 -8.5 -6.9
Taxes on production and imports
less subsidies...................... 673.3 724.4 751.3 -1.2 2.6 10.9 -.2 .4 1.5
Business current transfer payments... 92.8 80.9 77.7 .3 -8.9 -17.5 .3 -9.9 -18.4
Current surplus of government
enterprises......................... -1.4 2.8 9.5 -2.6 .0 4.5 ..... ..... .....
Disposition of personal income
Personal income........................ 8,724.1 8,878.9 9,161.8 11.0 -31.4 -46.2 .1 -.4 -.5
Compensation of employees,
received............................ 5,942.1 6,069.5 6,289.0 1.7 50.4 86.0 .0 .8 1.4
Wage and salary disbursements...... 4,942.8 4,976.3 5,103.6 -.1 1.7 3.4 .0 .0 .1
Supplements to wages and
salaries.......................... 999.3 1,093.2 1,185.5 1.7 48.7 82.7 .2 4.7 7.5
Proprietors' income with
inventory valuation and capital
consumption adjustments............. 771.9 769.6 834.1 1.3 -28.1 -12.8 .2 -3.5 -1.5
Farm............................... 19.7 9.7 21.8 -5.3 -4.6 2.3 -21.2 -32.2 11.8
Nonfarm............................ 752.2 759.9 812.3 6.6 -23.5 -15.1 .9 -3.0 -1.8
Rental income of persons with
capital consumption adjustment...... 167.4 170.9 153.8 4.3 -2.1 -10.4 2.6 -1.2 -6.3
Personal income receipts on assets... 1,380.0 1,334.6 1,322.7 5.1 -43.9 -70.6 .4 -3.2 -5.1
Personal interest income........... 1,011.0 946.7 929.9 7.3 -35.7 -34.7 .7 -3.6 -3.6
Personal dividend income........... 369.0 387.9 392.8 -2.2 -8.3 -35.9 -.6 -2.1 -8.4
Personal current transfer
receipts............................ 1,193.9 1,282.7 1,335.4 1.3 -9.5 -42.1 .1 -.7 -3.1
Less: Contributions for government
social insurance.................... 731.1 748.3 773.2 2.6 -2.0 -3.6 .4 -.3 -.5
Less: Personal current taxes........... 1,237.3 1,051.2 1,001.9 -6.4 -1.9 10.5 -.5 -.2 1.1
Equals: Disposable personal income..... 7,486.8 7,827.7 8,159.9 17.4 -29.5 -56.6 .2 -.4 -.7
Less: Personal outlays................. 7,354.5 7,668.5 8,049.3 12.3 -5.5 6.3 .2 -.1 .1
Equals: Personal saving................ 132.3 159.2 110.6 5.1 -24.0 -62.9 ..... ..... .....
Personal saving as a percentage
of disposable personal income....... 1.8 2.0 1.4 .1 -.3 -.7 ..... ..... .....
Addenda:
Statistical discrepancy as a
percentage of GDP..................... -.9 -.1 .2 .2 .6 .1 ..... ..... .....
Gross domestic income.................. 10,217.6 10,502.3 10,978.5 4.6 -55.7 3.6 .0 -.5 .0
---------------------------------------------------------------------------------------------------------------------------------
Table 2.--Contributions to Percent Change in Real Gross Domestic Product
[Quarters seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2000 2001 2002 2003 IV 00 I 01 II 01 III 01 IV 01 I 02 II 02 III 02 IV 02 I 03 II 03 III 03 IV 03 I 04 II 04
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Percent change at annual rate:
Gross domestic product.......... 3.7 .8 1.9 3.0 2.1 -.5 1.2 -1.4 1.6 3.4 2.4 2.6 .7 1.9 4.1 7.4 4.2 4.5 3.0
Percentage points at annual rates:
Personal consumption expenditures. 3.17 1.74 2.14 2.29 2.29 1.07 .67 1.20 4.71 1.32 1.98 2.02 1.74 1.84 2.72 3.58 2.50 2.90 .73
Durable goods................... .63 .37 .56 .63 .06 .55 -.03 .26 2.81 -.79 .37 1.16 -.21 -.01 1.64 1.38 .33 .19 -.21
Motor vehicles and parts...... .15 .20 .22 .22 .01 .36 -.17 .16 2.24 -1.34 .13 1.09 -.50 -.22 .86 .53 -.07 -.23 -.33
Furniture and household
equipment.................... .35 .19 .26 .27 .07 .23 .16 .15 .39 .41 .20 .04 .20 .07 .51 .62 .28 .32 .15
Other......................... .13 -.01 .08 .15 -.02 -.03 -.03 -.06 .18 .14 .04 .03 .08 .14 .27 .23 .12 .10 -.03
Nondurable goods................ .74 .40 .51 .73 .72 .09 -.03 .47 .95 .76 .15 -.12 1.03 .97 .31 1.38 1.01 1.33 -.01
Food.......................... .33 .15 .18 .37 .14 .24 .05 .09 .18 .26 .29 -.02 .31 .62 .26 .57 .25 .77 .01
Clothing and shoes............ .16 .06 .12 .12 .04 -.06 .05 .04 .27 .25 -.01 -.12 .30 -.02 .23 .27 .11 .43 -.17
Gasoline, fuel oil, and other
energy goods................. -.01 .02 .02 .01 .25 .05 -.33 .11 .24 .00 -.14 -.01 .21 .01 -.29 .10 .33 -.04 -.10
Other......................... .26 .17 .17 .23 .29 -.14 .21 .23 .27 .24 .01 .03 .21 .37 .12 .43 .32 .17 .25
Services........................ 1.80 .97 1.08 .93 1.51 .43 .73 .47 .95 1.36 1.46 .98 .93 .87 .77 .83 1.15 1.39 .95
Housing....................... .29 .28 .29 .15 .28 .31 .28 .21 .26 .42 .33 .19 .13 .12 .11 .16 .09 .23 .21
Household operation........... .19 .01 .03 .06 .41 -.25 -.35 .03 -.15 .09 .24 .01 .16 .01 -.11 .08 .29 .13 -.19
Electricity and gas......... .05 -.03 .04 .03 .40 -.24 -.44 .00 -.07 .11 .19 .04 .19 -.04 -.19 .01 .25 .05 -.30
Other household operation... .14 .03 -.01 .04 .01 -.02 .09 .02 -.08 -.02 .05 -.03 -.03 .05 .08 .07 .04 .07 .12
Transportation................ .08 -.03 -.08 -.02 .01 .05 -.06 -.22 -.17 .01 -.04 -.10 -.01 .05 -.07 -.02 -.01 .05 .06
Medical care.................. .40 .50 .66 .46 .42 .45 .49 .70 .67 .74 .63 .59 .55 .39 .40 .40 .36 .38 .57
Recreation.................... .11 .07 .07 .09 .04 .15 -.03 .02 .07 .13 .05 .04 .11 .08 .13 .07 .11 .17 .00
Other......................... .72 .15 .11 .20 .34 -.28 .39 -.25 .28 -.03 .24 .25 -.02 .23 .31 .15 .31 .43 .31
Gross private domestic investment. .99 -1.39 -.37 .66 -.36 -2.44 -1.28 -1.76 -3.95 2.34 .05 .61 -.06 -.10 .54 3.16 2.04 1.86 1.97
Fixed investment................ 1.09 -.50 -.80 .76 .13 -.43 -1.51 -.75 -1.81 -.71 -.55 .02 -.13 .35 1.55 2.59 1.57 .69 1.68
Nonresidential................ 1.06 -.52 -1.02 .33 .11 -.52 -1.76 -.83 -1.63 -1.13 -1.06 -.12 -.33 -.01 1.10 1.50 1.07 .42 .87
Structures.................. .21 -.07 -.57 -.15 .04 -.29 -.14 .19 -1.27 -.59 -.70 -.45 -.17 -.33 .32 -.03 .18 -.19 .12
Equipment and software...... .85 -.44 -.45 .48 .07 -.24 -1.62 -1.02 -.35 -.53 -.36 .33 -.16 .32 .78 1.53 .89 .61 .75
Information processing
equipment and software... .75 -.08 -.18 .45 .58 -.08 -.93 -.53 -.21 -.29 .04 .38 -.15 .59 .51 1.04 .61 .62 .54
Computers and peripheral
equipment.............. .20 .02 .09 .24 .06 .16 -.22 -.26 .19 .18 .03 .25 .08 .25 .30 .39 .25 .06 .22
Software................ .20 -.02 -.10 .07 .20 .01 -.30 -.07 -.19 -.14 -.03 .11 -.16 .12 .07 .28 .14 .24 .13
Other................... .35 -.08 -.16 .14 .32 -.25 -.42 -.20 -.21 -.33 .04 .02 -.08 .23 .14 .36 .22 .33 .19
Industrial equipment...... .12 -.14 -.08 .00 -.12 .01 -.48 -.27 -.21 .24 -.21 .02 -.05 .09 -.02 .04 -.06 .08 -.02
Transportation equipment.. -.07 -.18 -.17 -.04 -.36 -.22 -.03 -.27 .26 -.39 -.38 -.09 .00 -.31 .25 .14 .14 -.20 .11
Other equipment........... .05 -.04 -.02 .06 -.03 .05 -.19 .05 -.19 -.10 .18 .02 .04 -.06 .03 .31 .20 .10 .12
Residential................... .03 .02 .22 .43 .02 .10 .25 .08 -.18 .42 .51 .13 .20 .36 .44 1.09 .50 .27 .81
Change in private inventories... -.10 -.88 .42 -.10 -.49 -2.01 .23 -1.02 -2.14 3.05 .60 .59 .07 -.45 -1.01 .57 .47 1.17 .28
Farm.......................... .02 .02 -.01 .02 .34 .00 -.28 .09 -.23 .37 -.47 .24 .02 .06 -.07 .06 .19 .06 -.10
Nonfarm....................... -.12 -.90 .44 -.12 -.83 -2.01 .51 -1.11 -1.91 2.69 1.07 .36 .05 -.51 -.94 .52 .29 1.10 .38
Net exports of goods and services. -.86 -.20 -.70 -.43 -.07 -.04 .49 -.56 -.66 -1.10 -.46 -.43 -1.69 .14 -.50 .64 -.66 -.76 -.08
Exports......................... .93 -.60 -.24 .18 -.31 -.59 -1.45 -2.04 -1.11 .43 .99 .29 -.42 -.15 -.15 1.02 1.55 .70 1.25
Goods......................... .84 -.48 -.29 .14 -.45 -.43 -1.43 -1.60 -.63 -.13 .87 .19 -.72 .25 -.06 .64 1.00 .60 .96
Services...................... .09 -.12 .05 .04 .14 -.16 -.02 -.44 -.48 .56 .13 .10 .30 -.40 -.10 .39 .56 .10 .29
Imports......................... -1.79 .40 -.46 -.61 .24 .56 1.94 1.48 .45 -1.53 -1.45 -.72 -1.27 .29 -.34 -.39 -2.22 -1.46 -1.33
Goods......................... -1.55 .39 -.42 -.54 .19 .43 2.23 1.02 .21 -1.04 -1.59 -.65 -.91 .22 -.58 .00 -1.96 -1.43 -1.03
Services...................... -.25 .01 -.04 -.07 .04 .12 -.28 .47 .25 -.49 .14 -.06 -.36 .06 .24 -.39 -.26 -.03 -.30
Government consumption expenditures
and gross investment............. .36 .60 .79 .52 .22 .92 1.35 -.28 1.48 .85 .81 .40 .75 .05 1.35 .03 .31 .48 .43
Federal......................... .05 .23 .46 .43 -.07 .46 .52 .00 .51 .49 .78 .19 .58 .04 1.40 -.23 .33 .48 .19
National defense.............. -.02 .15 .30 .38 .06 .25 .16 .09 .46 .23 .45 .14 .54 -.11 1.49 -.36 .50 .47 .09
Consumption expenditures.... -.03 .13 .25 .33 .11 .26 .06 .03 .45 .22 .29 .04 .63 -.16 1.39 -.40 .42 .29 .16
Gross investment............ .01 .02 .06 .05 -.05 -.01 .10 .06 .02 .00 .16 .11 -.09 .05 .10 .03 .09 .19 -.07
Nondefense.................... .07 .08 .16 .06 -.13 .20 .36 -.09 .05 .27 .33 .05 .04 .15 -.09 .13 -.18 .00 .10
Consumption expenditures..... .10 .08 .14 .05 -.06 .15 .26 .01 .04 .19 .23 .12 .07 .14 -.23 .23 -.18 -.01 -.02
Gross investment............. -.03 .00 .02 .01 -.07 .05 .10 -.10 .01 .07 .10 -.07 -.03 .00 .13 -.10 .01 .01 .12
State and local................. .31 .37 .33 .09 .29 .46 .83 -.28 .97 .36 .03 .21 .17 .02 -.05 .26 -.02 .00 .24
Consumption expenditures.... .18 .24 .21 .07 .21 .24 .24 .39 .38 .10 .16 .11 .14 .02 .04 .01 .08 .02 .01
Gross investment............ .13 .13 .12 .02 .08 .22 .59 -.67 .59 .26 -.13 .09 .02 .00 -.09 .25 -.10 -.02 .23
Addenda:
Goods........................... 1.46 -.59 .41 1.41 .10 -1.57 -.41 -1.89 .88 1.38 .31 1.54 -1.05 1.39 1.32 5.45 1.90 2.65 .83
Services........................ 1.90 1.30 1.69 1.35 1.95 1.04 .98 .93 1.58 1.94 2.39 1.29 1.71 .54 2.11 .67 1.77 1.76 1.10
Structures...................... .30 .04 -.24 .29 .03 .03 .66 -.44 -.87 .09 -.32 -.23 .08 .00 .67 1.29 .52 .07 1.11
Motor vehicle output............ -.07 -.17 .39 .19 -.47 -.69 1.03 -.20 .69 .25 .35 .62 .22 -.46 .11 .84 .11 .30 -1.01
Final sales of computers........ .31 .14 .08 .31 .19 .42 -.13 -.21 .19 -.02 .10 .31 .23 .25 .28 .64 .26 .00 .04
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
See "Explanatory Note" at the end of the tables.
Table 2A.--Contributions to Percent Change in Real Gross Domestic Produc
[Quarters seasonally adjusted at annual rates]
------------------------------------------------------------------------------------------------------------------------------------------------------------------
2000 2001 2002 2003 IV 00 I 01 II 01 III 01 IV 01 I 02 II 02 III 02 IV 02 I 03 II 03 III 03 IV 03 I 04
------------------------------------------------------------------------------------------------------------------------------------------------------------------
Percent change at annual rate:
Gross domestic product.......... 3.7 .8 1.9 3.0 2.1 -.5 1.2 -1.4 1.6 3.4 2.4 2.6 .7 1.9 4.1 7.4 4.2 4.5
Previously published.......... 3.7 .5 2.2 3.1 2.1 -.2 -.6 -1.3 2.0 4.7 1.9 3.4 1.3 2.0 3.1 8.2 4.1 3.9
Percentage points at annual rates:
Personal consumption expenditures. 3.17 1.74 2.14 2.29 2.29 1.07 .67 1.20 4.71 1.32 1.98 2.02 1.74 1.84 2.72 3.58 2.50 2.90
Previously published............ 3.17 1.68 2.38 2.22 2.29 .28 1.52 1.27 4.20 2.92 1.81 1.39 1.57 1.80 2.34 4.89 2.29 2.64
Durable goods................... .63 .37 .56 .63 .06 .55 -.03 .26 2.81 -.79 .37 1.16 -.21 -.01 1.64 1.38 .33 .19
Previously published.......... .63 .36 .55 .61 .06 .15 .80 .06 2.14 .14 .04 .43 .02 .04 1.38 2.23 .06 -.32
Motor vehicles and parts...... .15 .20 .22 .22 .01 .36 -.17 .16 2.24 -1.34 .13 1.09 -.50 -.22 .86 .53 -.07 -.23
Previously published........ .15 .19 .18 .17 .01 .04 .67 -.13 1.58 -.44 -.25 .29 -.33 -.16 .54 1.36 -.35 -.70
Furniture and household
equipment.................... .35 .19 .26 .27 .07 .23 .16 .15 .39 .41 .20 .04 .20 .07 .51 .62 .28 .32
Previously published....... .35 .18 .30 .29 .07 .18 .16 .23 .40 .45 .23 .12 .24 .04 .54 .65 .30 .31
Other......................... .13 -.01 .08 .15 -.02 -.03 -.03 -.06 .18 .14 .04 .03 .08 .14 .27 .23 .12 .10
Previously published........ .13 -.01 .08 .16 -.02 -.07 -.02 -.04 .16 .13 .05 .02 .11 .17 .30 .21 .11 .07
Nondurable goods................ .74 .40 .51 .73 .72 .09 -.03 .47 .95 .76 .15 -.12 1.03 .97 .31 1.38 1.01 1.33
Previously published.......... .74 .37 .60 .76 .72 .06 -.22 .57 .91 1.19 .07 .04 .90 1.13 .25 1.48 1.07 1.36
Food.......................... .33 .15 .18 .37 .14 .24 .05 .09 .18 .26 .29 -.02 .31 .62 .26 .57 .25 .77
Previously published........ .33 .12 .22 .37 .14 .22 -.03 .02 .14 .56 .19 .03 .22 .63 .23 .71 .32 .82
Clothing and shoes............ .16 .06 .12 .12 .04 -.06 .05 .04 .27 .25 -.01 -.12 .30 -.02 .23 .27 .11 .43
Previously published........ .16 .06 .15 .14 .04 -.08 .01 .15 .19 .33 .01 -.01 .21 .09 .21 .27 .04 .40
Gasoline, fuel oil, and other
energy goods................. -.01 .02 .02 .01 .25 .05 -.33 .11 .24 .00 -.14 -.01 .21 .01 -.29 .10 .33 -.04
Previously published....... -.01 .03 .04 .00 .25 .12 -.37 .09 .32 .10 -.20 -.09 .21 .08 -.40 .07 .39 -.07
Other......................... .26 .17 .17 .23 .29 -.14 .21 .23 .27 .24 .01 .03 .21 .37 .12 .43 .32 .17
Previously published........ .26 .15 .20 .26 .29 -.19 .17 .31 .27 .22 .07 .11 .25 .33 .20 .43 .33 .20
Services........................ 1.80 .97 1.08 .93 1.51 .43 .73 .47 .95 1.36 1.46 .98 .93 .87 .77 .83 1.15 1.39
Previously published.......... 1.80 .96 1.23 .85 1.51 .07 .94 .64 1.15 1.58 1.70 .92 .65 .63 .71 1.19 1.16 1.61
Housing....................... .29 .28 .29 .15 .28 .31 .28 .21 .26 .42 .33 .19 .13 .12 .11 .16 .09 .23
Previously published........ .29 .28 .29 .24 .28 .33 .26 .21 .25 .35 .33 .28 .25 .26 .20 .25 .17 .24
Household operation........... .19 .01 .03 .06 .41 -.25 -.35 .03 -.15 .09 .24 .01 .16 .01 -.11 .08 .29 .13
Previously published........ .19 .00 .04 .02 .41 -.27 -.31 -.05 -.17 .18 .36 -.14 .04 .04 -.13 .14 .05 .18
Electricity and gas......... .05 -.03 .04 .03 .40 -.24 -.44 .00 -.07 .11 .19 .04 .19 -.04 -.19 .01 .25 .05
Previously published...... .05 -.02 .04 .00 .40 -.15 -.49 -.04 -.13 .20 .27 -.05 .09 .01 -.21 .06 .02 .13
Other household operation... .14 .03 -.01 .04 .01 -.02 .09 .02 -.08 -.02 .05 -.03 -.03 .05 .08 .07 .04 .07
Previously published...... .14 .02 .00 .02 .01 -.12 .17 -.01 -.04 -.02 .09 -.09 -.05 .03 .08 .08 .03 .05
Transportation................ .08 -.03 -.08 -.02 .01 .05 -.06 -.22 -.17 .01 -.04 -.10 -.01 .05 -.07 -.02 -.01 .05
Previously published........ .08 -.02 -.05 -.07 .01 .03 -.01 -.15 -.14 .10 -.05 -.12 -.09 .01 -.11 -.06 -.08 -.01
Medical care.................. .40 .50 .66 .46 .42 .45 .49 .70 .67 .74 .63 .59 .55 .39 .40 .40 .36 .38
Previously published........ .40 .45 .63 .59 .42 .35 .47 .62 .61 .75 .61 .51 .69 .59 .53 .60 .58 .53
Recreation.................... .11 .07 .07 .09 .04 .15 -.03 .02 .07 .13 .05 .04 .11 .08 .13 .07 .11 .17
Previously published........ .11 .06 .11 .06 .04 .09 -.02 .06 .15 .19 .07 .05 .09 .00 .10 .08 .12 .17
Other......................... .72 .15 .11 .20 .34 -.28 .39 -.25 .28 -.03 .24 .25 -.02 .23 .31 .15 .31 .43
Previously published........ .72 .18 .20 .00 .34 -.45 .56 -.06 .45 .00 .38 .34 -.33 -.28 .13 .19 .33 .49
Gross private domestic investment. .99 -1.39 -.37 .66 -.36 -2.44 -1.28 -1.76 -3.95 2.34 .05 .61 -.06 -.10 .54 3.16 2.04 1.86
Previously published............ .99 -1.47 -.18 .64 -.36 -1.96 -2.92 -1.39 -2.98 1.60 .69 1.66 -.09 -.57 .73 2.17 2.19 1.43
Fixed investment................ 1.09 -.50 -.80 .76 .13 -.43 -1.51 -.75 -1.81 -.71 -.55 .02 -.13 .35 1.55 2.59 1.57 .69
Previously published.......... 1.09 -.54 -.60 .67 .13 -.45 -1.60 -.88 -1.83 -.41 .08 .08 .31 .16 .90 2.30 1.48 .78
Nonresidential................ 1.06 -.52 -1.02 .33 .11 -.52 -1.76 -.83 -1.63 -1.13 -1.06 -.12 -.33 -.01 1.10 1.50 1.07 .42
Previously published........ 1.06 -.56 -.82 .30 .11 -.56 -1.76 -1.02 -1.71 -.81 -.33 -.12 -.01 -.06 .68 1.25 1.08 .54
Structures.................. .21 -.07 -.57 -.15 .04 -.29 -.14 .19 -1.27 -.59 -.70 -.45 -.17 -.33 .32 -.03 .18 -.19
Previously published...... .21 -.08 -.59 -.12 .04 -.20 -.19 .07 -1.36 -.77 -.41 -.40 -.14 -.10 .09 -.04 -.03 -.18
Equipment and software...... .85 -.44 -.45 .48 .07 -.24 -1.62 -1.02 -.35 -.53 -.36 .33 -.16 .32 .78 1.53 .89 .61
Previously published...... .85 -.47 -.23 .42 .07 -.37 -1.57 -1.09 -.35 -.03 .09 .28 .13 .04 .59 1.30 1.11 .71
Information processing
equipment and software... .75 -.08 -.18 .45 .58 -.08 -.93 -.53 -.21 -.29 .04 .38 -.15 .59 .51 1.04 .61 .62
Previously published... .75 -.10 .02 .54 .58 -.20 -.84 -.58 -.15 .09 .37 .53 -.06 .64 .64 1.05 .70 .67
Computers and peripheral
equipment.............. .20 .02 .09 .24 .06 .16 -.22 -.26 .19 .18 .03 .25 .08 .25 .30 .39 .25 .06
Previously published. .20 .02 .11 .24 .06 .16 -.22 -.26 .19 .22 .06 .28 .09 .21 .33 .39 .26 .08
Software................ .20 -.02 -.10 .07 .20 .01 -.30 -.07 -.19 -.14 -.03 .11 -.16 .12 .07 .28 .14 .24
Previously published.. .20 -.04 -.04 .14 .20 -.07 -.24 -.16 -.21 -.05 .09 .21 -.06 .18 .15 .24 .23 .28
Other................... .35 -.08 -.16 .14 .32 -.25 -.42 -.20 -.21 -.33 .04 .02 -.08 .23 .14 .36 .22 .33
Previously published.. .35 -.08 -.05 .16 .32 -.28 -.39 -.16 -.14 -.08 .21 .05 -.10 .26 .15 .41 .20 .30
Industrial equipment...... .12 -.14 -.08 .00 -.12 .01 -.48 -.27 -.21 .24 -.21 .02 -.05 .09 -.02 .04 -.06 .08
Previously published.... .12 -.14 -.09 -.05 -.12 .04 -.53 -.30 -.22 .26 -.21 .00 -.04 -.10 -.02 .02 -.03 .07
Transportation equipment.. -.07 -.18 -.17 -.04 -.36 -.22 -.03 -.27 .26 -.39 -.38 -.09 .00 -.31 .25 .14 .14 -.20
Previously published.... -.07 -.18 -.14 -.11 -.36 -.27 .00 -.25 .24 -.34 -.24 -.26 .20 -.37 -.09 -.05 .25 -.15
Other equipment........... .05 -.04 -.02 .06 -.03 .05 -.19 .05 -.19 -.10 .18 .02 .04 -.06 .03 .31 .20 .10
Previously published.... .05 -.05 -.02 .04 -.03 .06 -.21 .04 -.21 -.04 .17 .00 .04 -.13 .05 .28 .20 .14
Residential................... .03 .02 .22 .43 .02 .10 .25 .08 -.18 .42 .51 .13 .20 .36 .44 1.09 .50 .27
Previously published........ .03 .02 .23 .36 .02 .12 .16 .14 -.12 .40 .41 .20 .32 .22 .22 1.05 .40 .24
Change in private inventories... -.10 -.88 .42 -.10 -.49 -2.01 .23 -1.02 -2.14 3.05 .60 .59 .07 -.45 -1.01 .57 .47 1.17
Previously published.......... -.10 -.93 .41 -.03 -.49 -1.51 -1.32 -.51 -1.15 2.01 .61 1.58 -.40 -.74 -.17 -.13 .71 .65
Farm.......................... .02 .02 -.01 .02 .34 .00 -.28 .09 -.23 .37 -.47 .24 .02 .06 -.07 .06 .19 .06
Previously published........ .02 .02 -.03 .02 .34 .03 -.34 .14 -.26 .39 -.64 .34 -.02 .15 -.09 -.03 .10 -.08
Nonfarm....................... -.12 -.90 .44 -.12 -.83 -2.01 .51 -1.11 -1.91 2.69 1.07 .36 .05 -.51 -.94 .52 .29 1.10
Previously published........ -.12 -.94 .44 -.05 -.83 -1.54 -.99 -.65 -.89 1.62 1.25 1.25 -.38 -.88 -.08 -.10 .61 .73
Net exports of goods and services. -.86 -.20 -.70 -.43 -.07 -.04 .49 -.56 -.66 -1.10 -.46 -.43 -1.69 .14 -.50 .64 -.66 -.76
Previously published............ -.86 -.19 -.70 -.35 -.07 .46 -.25 -.42 -.50 -.65 -1.32 -.15 -1.47 .81 -1.34 .80 -.32 -.71
Exports......................... .93 -.60 -.24 .18 -.31 -.59 -1.45 -2.04 -1.11 .43 .99 .29 -.42 -.15 -.15 1.02 1.55 .70
Previously published.......... .93 -.58 -.24 .20 -.31 -.50 -1.54 -1.99 -1.02 .40 .80 .41 -.37 -.19 -.11 .92 1.81 .72
Goods......................... .84 -.48 -.29 .14 -.45 -.43 -1.43 -1.60 -.63 -.13 .87 .19 -.72 .25 -.06 .64 1.00 .60
Previously published........ .84 -.48 -.29 .13 -.45 -.44 -1.52 -1.50 -.54 -.19 .75 .28 -.64 .13 -.11 .56 1.29 .62
Services...................... .09 -.12 .05 .04 .14 -.16 -.02 -.44 -.48 .56 .13 .10 .30 -.40 -.10 .39 .56 .10
Previously published........ .09 -.10 .04 .07 .14 -.06 -.02 -.48 -.47 .59 .05 .13 .27 -.31 .01 .36 .52 .10
Imports......................... -1.79 .40 -.46 -.61 .24 .56 1.94 1.48 .45 -1.53 -1.45 -.72 -1.27 .29 -.34 -.39 -2.22 -1.46
Previously published.......... -1.79 .39 -.45 -.55 .24 .96 1.29 1.57 .52 -1.05 -2.12 -.56 -1.10 1.00 -1.24 -.12 -2.14 -1.43
Goods......................... -1.55 .39 -.42 -.54 .19 .43 2.23 1.02 .21 -1.04 -1.59 -.65 -.91 .22 -.58 .00 -1.96 -1.43
Previously published........ -1.55 .39 -.42 -.55 .19 .88 1.57 1.10 .35 -.66 -2.20 -.55 -.83 .81 -1.51 .18 -1.96 -1.39
Services...................... -.25 .01 -.04 -.07 .04 .12 -.28 .47 .25 -.49 .14 -.06 -.36 .06 .24 -.39 -.26 -.03
Previously published........ -.25 -.01 -.03 .00 .04 .08 -.28 .47 .16 -.39 .09 -.02 -.27 .19 .27 -.30 -.17 -.05
Government consumption expenditures
and gross investment............. .36 .60 .79 .52 .22 .92 1.35 -.28 1.48 .85 .81 .40 .75 .05 1.35 .03 .31 .48
Previously published........... .36 .48 .69 .62 .22 .99 1.00 -.74 1.28 .85 .72 .46 1.29 -.07 1.36 .34 -.01 .54
Federal......................... .05 .23 .46 .43 -.07 .46 .52 .00 .51 .49 .78 .19 .58 .04 1.40 -.23 .33 .48
Previously published.......... .05 .22 .48 .56 -.07 .50 .38 .00 .57 .52 .64 .26 1.11 -.01 1.46 .09 .05 .57
National defense.............. -.02 .15 .30 .38 .06 .25 .16 .09 .46 .23 .45 .14 .54 -.11 1.49 -.36 .50 .47
Previously published........ -.02 .15 .35 .44 .06 .27 .10 .09 .53 .33 .38 .19 .85 -.25 1.58 -.06 .13 .58
Consumption expenditures.... -.03 .13 .25 .33 .11 .26 .06 .03 .45 .22 .29 .04 .63 -.16 1.39 -.40 .42 .29
Previously published...... -.03 .13 .29 .40 .11 .29 .00 .03 .50 .32 .22 .09 .93 -.19 1.39 -.20 .19 .26
Gross investment............ .01 .02 .06 .05 -.05 -.01 .10 .06 .02 .00 .16 .11 -.09 .05 .10 .03 .09 .19
Previously published...... .01 .02 .06 .04 -.05 -.01 .10 .06 .02 .01 .15 .10 -.07 -.06 .19 .13 -.05 .32
Nondefense.................... .07 .08 .16 .06 -.13 .20 .36 -.09 .05 .27 .33 .05 .04 .15 -.09 .13 -.18 .00
Previously published........ .07 .07 .14 .12 -.13 .23 .28 -.09 .04 .20 .27 .07 .26 .24 -.12 .15 -.09 -.01
Consumption expenditures.... .10 .08 .14 .05 -.06 .15 .26 .01 .04 .19 .23 .12 .07 .14 -.23 .23 -.18 -.01
Previously published...... .10 .07 .12 .11 -.06 .19 .19 -.02 .06 .14 .15 .13 .26 .25 -.26 .23 -.13 -.01
Gross investment............ -.03 .00 .02 .01 -.07 .05 .10 -.10 .01 .07 .10 -.07 -.03 .00 .13 -.10 .01 .01
Previously published...... -.03 .00 .02 .01 -.07 .04 .09 -.07 -.02 .06 .11 -.06 .00 -.01 .14 -.08 .04 .00
State and local................. .31 .37 .33 .09 .29 .46 .83 -.28 .97 .36 .03 .21 .17 .02 -.05 .26 -.02 .00
Previously published.......... .31 .26 .21 .06 .29 .49 .62 -.74 .71 .33 .08 .20 .18 -.06 -.10 .25 -.06 -.03
Consumption expenditures.... .18 .24 .21 .07 .21 .24 .24 .39 .38 .10 .16 .11 .14 .02 .04 .01 .08 .02
Previously published...... .18 .20 .13 .06 .21 .29 .22 .13 .21 .01 .17 .11 .19 .06 -.05 -.02 .04 .02
Gross investment............ .13 .13 .12 .02 .08 .22 .59 -.67 .59 .26 -.13 .09 .02 .00 -.09 .25 -.10 -.02
Previously published...... .13 .06 .08 -.01 .08 .20 .40 -.88 .50 .31 -.09 .09 -.01 -.12 -.05 .27 -.10 -.05
Addenda:
Goods........................... 1.46 -.59 .41 1.41 .10 -1.57 -.41 -1.89 .88 1.38 .31 1.54 -1.05 1.39 1.32 5.45 1.90 2.65
Previously published.......... 1.46 -.71 .71 1.40 .10 -1.17 -2.08 -1.40 1.38 2.54 -.37 2.12 -.92 1.37 .75 5.67 2.30 1.97
Services........................ 1.90 1.30 1.69 1.35 1.95 1.04 .98 .93 1.58 1.94 2.39 1.29 1.71 .54 2.11 .67 1.77 1.76
Previously published.......... 1.90 1.26 1.77 1.50 1.95 .85 1.05 .77 1.61 2.25 2.38 1.37 2.02 .62 2.08 1.27 1.61 1.93
Structures...................... .30 .04 -.24 .29 .03 .03 .66 -.44 -.87 .09 -.32 -.23 .08 .00 .67 1.29 .52 .07
Previously published.......... .30 -.04 -.29 .23 .03 .09 .38 -.65 -1.00 -.08 -.10 -.13 .19 -.02 .26 1.27 .23 .00
Motor vehicle output............ -.07 -.17 .39 .19 -.47 -.69 1.03 -.20 .69 .25 .35 .62 .22 -.46 .11 .84 .11 .30
Previously published.......... -.07 -.17 .38 .09 -.47 -.53 .58 .05 .92 .39 .20 .37 -.18 -.23 .07 .82 .13 -.29
Final sales of computers........ .31 .14 .08 .31 .19 .42 -.13 -.21 .19 -.02 .10 .31 .23 .25 .28 .64 .26 .00
Previously published.......... .31 .14 .10 .31 .19 .45 -.20 -.19 .22 .06 .06 .35 .26 .26 .25 .65 .29 .01
------------------------------------------------------------------------------------------------------------------------------------------------------------------
See "Explanatory Note" at the end of the tables.
Table 3A.--Gross Domestic Product and Related Measures
[Billions of dollars; quarters seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------
2000 2001 2002 2003 I 00 II 00 III 00 IV 00 I 01 II 01
-------------------------------------------------------------------------------------------------------------------------------
Gross domestic product.......... 9,817.0 10,128.0 10,487.0 11,004.0 9,629.4 9,822.8 9,862.1 9,953.6 10,021.5 10,128.9
Personal consumption expenditures.... 6,739.4 7,055.0 7,376.1 7,760.9 6,613.9 6,688.1 6,783.9 6,871.6 6,955.8 7,017.5
Durable goods...................... 863.3 883.7 916.2 950.7 876.9 854.2 861.3 860.9 872.1 864.7
Motor vehicles and parts......... 386.5 407.9 426.1 440.1 402.3 376.9 382.6 384.3 395.5 390.8
Furniture and household
equipment....................... 312.9 312.1 319.9 328.0 311.4 313.4 314.7 312.2 312.3 310.7
Other............................ 163.9 163.7 170.1 182.6 163.3 163.8 164.1 164.4 164.3 163.2
Nondurable goods................... 1,947.2 2,017.1 2,080.1 2,200.1 1,894.2 1,938.3 1,965.8 1,990.5 2,000.0 2,016.6
Food............................. 925.2 967.9 1,005.8 1,064.5 906.9 922.1 932.0 939.7 953.8 961.9
Clothing and shoes............... 297.7 297.7 302.1 307.2 292.8 296.1 300.3 301.6 299.8 297.1
Gasoline, fuel oil, and other
energy goods.................... 191.5 187.1 177.5 208.2 182.9 188.6 193.7 200.8 197.7 198.8
Other............................ 532.9 564.4 594.7 620.1 511.6 531.5 539.9 548.4 548.7 558.8
Services........................... 3,928.8 4,154.3 4,379.8 4,610.1 3,842.8 3,895.6 3,956.7 4,020.3 4,083.7 4,136.2
Housing.......................... 1,006.5 1,073.7 1,144.8 1,188.4 983.8 998.8 1,013.6 1,029.6 1,047.0 1,065.6
Household operation.............. 390.1 409.0 409.0 431.3 372.0 385.4 393.7 409.4 418.3 409.6
Electricity and gas............ 143.3 156.7 152.6 167.3 128.6 138.7 145.4 160.6 168.9 157.3
Other household operation...... 246.8 252.3 256.4 264.0 243.4 246.7 248.3 248.8 249.4 252.3
Transportation................... 291.3 292.8 288.0 294.0 286.8 290.9 292.5 294.7 297.4 296.1
Medical care..................... 1,026.8 1,113.8 1,210.3 1,301.1 998.1 1,017.0 1,036.9 1,055.2 1,079.5 1,101.0
Recreation....................... 268.3 284.1 299.6 317.2 260.7 266.1 271.8 274.4 280.5 282.6
Other............................ 945.9 980.7 1,028.2 1,078.1 941.4 937.3 948.2 956.9 960.9 981.2
Gross private domestic investment.... 1,735.5 1,614.3 1,579.2 1,665.8 1,672.3 1,781.7 1,749.0 1,738.9 1,675.3 1,647.7
Fixed investment................... 1,679.0 1,646.1 1,568.0 1,667.0 1,642.4 1,685.4 1,690.6 1,697.5 1,685.2 1,654.7
Nonresidential................... 1,232.1 1,176.8 1,063.9 1,094.7 1,193.9 1,236.5 1,247.5 1,250.3 1,229.6 1,187.1
Structures..................... 313.2 322.6 271.6 261.6 295.2 310.4 321.1 326.0 323.9 325.7
Equipment and software......... 918.9 854.2 792.4 833.1 898.7 926.1 926.5 924.2 905.7 861.4
Information processing
equipment and software...... 467.6 437.0 400.5 431.2 446.4 466.5 473.6 484.0 470.8 442.8
Computers and peripheral
equipment................. 101.4 85.4 81.4 95.3 96.2 103.5 103.8 102.2 97.3 88.3
Software................... 176.2 174.7 161.7 165.8 168.7 174.8 177.9 183.2 182.8 176.1
Other...................... 190.0 177.0 157.3 170.0 181.5 188.1 191.9 198.5 190.6 178.4
Industrial equipment......... 159.2 146.7 138.6 139.8 156.0 159.5 162.1 159.3 160.1 148.4
Transportation equipment..... 160.8 141.7 126.0 126.6 165.6 166.7 160.3 150.8 142.7 142.3
Other equipment.............. 131.2 128.8 127.3 135.5 130.7 133.4 130.6 130.1 132.2 127.9
Residential...................... 446.9 469.3 504.1 572.3 448.5 448.8 443.1 447.2 455.6 467.6
Change in private inventories...... 56.5 -31.7 11.2 -1.2 29.9 96.3 58.4 41.4 -9.9 -7.0
Farm............................. -1.3 .0 -1.5 .3 -11.5 3.3 -.8 3.7 3.0 -5.1
Nonfarm.......................... 57.8 -31.7 12.7 -1.5 41.3 93.0 59.2 37.7 -12.9 -1.9
Net exports of goods and services.... -379.5 -367.0 -424.9 -498.1 -346.4 -366.9 -400.7 -403.9 -392.9 -361.7
Exports............................ 1,096.3 1,032.8 1,005.0 1,046.2 1,055.1 1,091.8 1,122.4 1,115.8 1,100.7 1,060.5
Goods............................ 784.3 731.2 697.0 726.4 749.2 776.9 810.9 800.4 788.9 749.8
Services......................... 311.9 301.6 308.0 319.8 305.9 315.0 311.5 315.4 311.8 310.7
Imports............................ 1,475.8 1,399.8 1,429.9 1,544.3 1,401.5 1,458.7 1,523.1 1,519.7 1,493.7 1,422.2
Goods............................ 1,243.5 1,167.9 1,189.6 1,282.0 1,177.0 1,229.6 1,284.9 1,282.3 1,258.5 1,181.2
Services......................... 232.3 231.9 240.2 262.3 224.5 229.1 238.3 237.3 235.2 241.0
Government consumption expenditures
and gross investment................ 1,721.6 1,825.6 1,956.6 2,075.5 1,689.6 1,720.0 1,729.9 1,746.9 1,783.3 1,825.4
Federal............................ 578.8 612.9 680.8 752.2 565.3 586.6 581.2 582.0 596.2 610.9
National defense................. 370.3 392.6 437.4 496.4 360.9 375.2 371.3 373.8 383.5 388.3
Consumption expenditures....... 321.5 342.4 382.0 436.1 311.9 326.2 322.1 325.7 335.8 338.0
Gross investment............... 48.8 50.2 55.4 60.4 49.0 49.0 49.3 48.1 47.6 50.3
Nondefense....................... 208.5 220.3 243.4 255.7 204.4 211.4 209.9 208.2 212.7 222.6
Consumption expenditures....... 177.8 189.5 210.7 222.5 173.8 178.9 179.4 179.2 182.6 189.9
Gross investment............... 30.7 30.8 32.7 33.2 30.6 32.5 30.5 29.0 30.1 32.7
State and local.................... 1,142.8 1,212.8 1,275.8 1,323.3 1,124.3 1,133.4 1,148.6 1,164.9 1,187.2 1,214.5
Consumption expenditures....... 917.8 969.8 1,016.5 1,058.5 900.6 910.8 923.4 936.3 951.7 963.6
Gross investment............... 225.0 243.0 259.3 264.9 223.7 222.6 225.3 228.6 235.4 250.9
Addenda:
Final sales of domestic product.... 9,760.5 10,159.7 10,475.9 11,005.3 9,599.6 9,726.5 9,803.7 9,912.2 10,031.4 10,136.0
Gross domestic purchases........... 10,196.4 10,495.0 10,911.9 11,502.2 9,975.8 10,189.7 10,262.8 10,357.5 10,414.4 10,490.6
Final sales to domestic purchasers. 10,140.0 10,526.7 10,900.7 11,503.4 9,946.0 10,093.4 10,204.4 10,316.0 10,424.4 10,497.7
Gross domestic product............. 9,817.0 10,128.0 10,487.0 11,004.0 9,629.4 9,822.8 9,862.1 9,953.6 10,021.5 10,128.9
Plus: Income receipts
from the rest of the world........ 382.7 322.4 301.8 329.0 362.9 386.0 379.7 402.1 361.8 337.8
Less: Income payments to
the rest of the world............. 343.7 278.8 274.7 273.9 330.4 349.2 348.1 347.2 323.0 293.2
Equals: Gross national product..... 9,855.9 10,171.6 10,514.1 11,059.2 9,661.9 9,859.6 9,893.6 10,008.4 10,060.2 10,173.5
Net domestic product............... 8,629.1 8,846.5 9,183.1 9,650.1 8,476.3 8,645.8 8,662.1 8,732.3 8,781.0 8,858.1
-------------------------------------------------------------------------------------------------------------------------------
See "Explanatory Note" at the end of the tables.
Table 3A.--Gross Domestic Product and Related Measures--Continued
[Billions of dollars; quarters seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------
III 01 IV 01 I 02 II 02 III 02 IV 02 I 03 II 03 III 03 IV 03 I 04 II 04
-------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product.......... 10,135.1 10,226.3 10,338.2 10,445.7 10,546.5 10,617.5 10,744.6 10,884.0 11,116.7 11,270.9 11,472.6 11,649.3
Personal consumption expenditures.... 7,058.5 7,188.4 7,236.9 7,339.3 7,428.0 7,500.0 7,609.8 7,696.3 7,822.5 7,914.9 8,060.2 8,146.2
Durable goods...................... 865.1 932.8 903.5 907.5 932.8 920.8 912.1 946.8 972.7 971.1 976.3 970.0
Motor vehicles and parts......... 393.7 451.5 414.5 415.8 444.6 429.7 421.4 442.4 452.5 444.1 438.4 429.7
Furniture and household
equipment....................... 309.9 315.5 319.8 321.9 318.5 319.4 316.8 323.9 333.3 338.0 345.0 346.7
Other............................ 161.5 165.8 169.3 169.8 169.7 171.6 174.0 180.5 186.9 189.0 193.0 193.7
Nondurable goods................... 2,024.2 2,027.5 2,046.8 2,077.7 2,081.3 2,114.6 2,167.5 2,163.6 2,219.2 2,250.1 2,316.6 2,353.8
Food............................. 972.9 983.1 994.6 1,004.1 1,006.2 1,018.4 1,039.5 1,052.2 1,074.6 1,091.8 1,120.3 1,131.2
Clothing and shoes............... 295.0 299.0 303.9 303.2 297.7 303.6 299.9 303.6 311.0 314.4 325.0 322.5
Gasoline, fuel oil, and other
energy goods.................... 185.9 165.8 160.4 176.7 180.4 192.4 219.1 195.6 207.6 210.7 229.7 249.1
Other............................ 570.5 579.7 588.0 593.7 596.9 600.2 608.9 612.3 626.0 633.1 641.5 651.0
Services........................... 4,169.1 4,228.0 4,286.5 4,354.0 4,413.9 4,464.7 4,530.2 4,585.9 4,630.6 4,693.6 4,767.3 4,822.4
Housing.......................... 1,082.3 1,099.9 1,121.8 1,140.0 1,153.2 1,164.2 1,174.5 1,182.7 1,193.4 1,202.8 1,215.4 1,232.6
Household operation.............. 408.8 399.3 400.6 406.7 410.9 417.7 426.6 428.9 431.8 438.1 445.6 443.2
Electricity and gas............ 154.3 146.2 146.5 151.6 153.0 159.2 164.9 166.3 166.7 171.2 175.7 169.2
Other household operation...... 254.5 253.2 254.1 255.0 258.0 258.5 261.6 262.6 265.0 266.8 270.0 273.9
Transportation................... 290.7 287.1 287.6 288.8 287.2 288.3 291.5 293.0 295.1 296.5 297.8 299.9
Medical care..................... 1,125.4 1,149.4 1,173.7 1,197.9 1,222.5 1,247.0 1,267.6 1,290.5 1,312.1 1,334.0 1,356.8 1,381.8
Recreation....................... 284.9 288.6 293.6 297.8 300.9 306.0 310.8 315.5 319.0 323.4 330.8 332.9
Other............................ 977.0 1,003.7 1,009.3 1,022.9 1,039.2 1,041.5 1,059.3 1,075.3 1,079.1 1,098.8 1,120.9 1,132.0
Gross private domestic investment.... 1,613.0 1,521.4 1,568.5 1,577.0 1,581.3 1,589.9 1,596.6 1,611.1 1,696.6 1,758.8 1,819.7 1,891.2
Fixed investment................... 1,644.8 1,599.6 1,577.4 1,563.0 1,562.2 1,569.5 1,586.0 1,626.4 1,700.2 1,755.2 1,783.5 1,846.6
Nonresidential................... 1,167.2 1,123.2 1,091.4 1,061.2 1,055.0 1,048.1 1,046.4 1,072.7 1,113.3 1,146.3 1,158.8 1,188.1
Structures..................... 335.8 305.2 290.0 273.4 262.7 260.1 253.6 262.3 262.3 268.2 266.0 273.2
Equipment and software......... 831.4 818.1 801.4 787.8 792.3 788.0 792.8 810.4 851.1 878.1 892.8 914.9
Information processing
equipment and software...... 422.0 412.5 401.7 398.2 404.9 397.2 407.9 419.3 442.8 454.7 468.5 481.2
Computers and peripheral
equipment................. 77.5 78.4 80.5 79.5 83.1 82.6 85.6 91.5 99.7 104.5 104.4 109.1
Software................... 172.1 167.6 163.3 160.6 163.8 159.3 161.0 162.8 169.1 170.5 176.8 179.9
Other...................... 172.4 166.5 157.9 158.2 158.0 155.3 161.4 165.0 174.0 179.7 187.4 192.2
Industrial equipment......... 141.6 136.6 142.5 136.9 137.9 136.9 139.7 139.3 140.8 139.5 143.1 143.6
Transportation equipment..... 138.2 143.7 134.3 125.1 120.7 123.9 116.1 121.4 128.8 140.0 134.5 138.4
Other equipment.............. 129.6 125.3 122.9 127.6 128.7 130.1 129.0 130.3 138.7 144.0 146.6 151.7
Residential...................... 477.6 476.3 486.0 501.8 507.2 521.4 539.6 553.8 586.9 609.0 624.6 658.5
Change in private inventories...... -31.8 -78.2 -8.9 14.0 19.1 20.4 10.6 -15.3 -3.7 3.5 36.2 44.6
Farm............................. -.3 2.3 3.0 -.9 -4.2 -4.0 1.9 .9 -.9 -.9 1.0 -2.4
Nonfarm.......................... -31.5 -80.5 -11.9 14.9 23.3 24.4 8.7 -16.2 -2.8 4.5 35.2 47.0
Net exports of goods and services.... -361.9 -351.6 -376.3 -415.4 -431.1 -476.6 -503.3 -497.6 -488.8 -502.8 -546.8 -561.0
Exports............................ 1,003.5 966.6 975.0 1,008.1 1,023.4 1,013.5 1,019.8 1,018.1 1,047.7 1,099.2 1,134.3 1,183.1
Goods............................ 704.5 681.7 676.3 702.6 713.5 695.5 708.4 709.8 725.9 761.3 790.3 828.6
Services......................... 299.0 284.8 298.7 305.5 310.0 318.0 311.4 308.3 321.7 337.9 344.1 354.5
Imports............................ 1,365.3 1,318.2 1,351.3 1,423.5 1,454.5 1,490.1 1,523.0 1,515.7 1,536.4 1,602.0 1,681.2 1,744.1
Goods............................ 1,135.6 1,096.5 1,117.7 1,188.5 1,213.4 1,238.9 1,268.7 1,262.6 1,270.3 1,326.4 1,399.2 1,454.3
Services......................... 229.8 221.7 233.6 235.1 241.1 251.1 254.3 253.1 266.1 275.6 282.0 289.8
Government consumption expenditures
and gross investment................ 1,825.6 1,868.2 1,909.2 1,944.9 1,968.3 2,004.2 2,041.4 2,074.2 2,086.4 2,100.0 2,139.5 2,172.9
Federal............................ 614.3 630.1 654.2 676.6 684.4 708.2 723.4 761.1 756.7 767.5 793.3 804.3
National defense................. 393.0 405.6 418.5 431.7 438.5 461.0 467.4 506.7 498.1 513.6 534.1 541.2
Consumption expenditures....... 341.4 354.3 367.1 376.0 380.0 404.8 410.1 446.7 437.1 450.2 465.2 473.5
Gross investment............... 51.6 51.2 51.4 55.7 58.4 56.2 57.3 59.9 61.0 63.4 69.0 67.7
Nondefense....................... 221.3 224.5 235.8 244.9 245.9 247.2 256.0 254.4 258.7 253.9 259.1 263.1
Consumption expenditures....... 191.3 194.1 203.7 210.3 213.4 215.5 224.2 219.0 225.9 221.1 225.9 226.3
Gross investment............... 30.1 30.4 32.1 34.6 32.5 31.7 31.8 35.4 32.8 32.8 33.2 36.7
State and local.................... 1,211.2 1,238.1 1,255.0 1,268.3 1,283.9 1,296.0 1,318.0 1,313.1 1,329.7 1,332.6 1,346.3 1,368.6
Consumption expenditures....... 976.6 987.1 996.2 1,011.5 1,023.8 1,034.6 1,054.8 1,051.8 1,061.0 1,066.3 1,079.8 1,091.2
Gross investment............... 234.6 251.0 258.8 256.9 260.1 261.4 263.2 261.4 268.7 266.2 266.4 277.4
Addenda:
Final sales of domestic product.... 10,166.9 10,304.5 10,347.2 10,431.7 10,527.4 10,597.1 10,734.0 10,899.3 11,120.4 11,267.4 11,436.4 11,604.8
Gross domestic purchases........... 10,497.0 10,577.9 10,714.6 10,861.2 10,977.6 11,094.1 11,247.8 11,381.6 11,605.5 11,773.7 12,019.4 12,210.3
Final sales to domestic purchasers. 10,528.8 10,656.1 10,723.5 10,847.1 10,958.5 11,073.7 11,237.3 11,397.0 11,609.2 11,770.1 11,983.2 12,165.7
Gross domestic product............. 10,135.1 10,226.3 10,338.2 10,445.7 10,546.5 10,617.5 10,744.6 10,884.0 11,116.7 11,270.9 11,472.6 11,649.3
Plus: Income receipts
from the rest of the world........ 306.0 284.2 288.5 304.5 312.9 301.2 304.8 309.8 329.8 371.8 373.8 .....
Less: Income payments to
the rest of the world............. 289.3 209.6 265.0 288.6 287.8 257.5 268.0 264.7 278.2 284.6 300.3 .....
Equals: Gross national product..... 10,151.8 10,300.9 10,361.7 10,461.6 10,571.7 10,661.2 10,781.3 10,929.0 11,168.3 11,358.1 11,546.1 .....
Net domestic product............... 8,802.4 8,944.5 9,051.2 9,147.8 9,237.2 9,296.1 9,410.5 9,537.0 9,756.2 9,896.7 10,117.6 10,279.3
-------------------------------------------------------------------------------------------------------------------------------------------------
See "Explanatory Note" at the end of the tables.
Table 3B.--Real Gross Domestic Product and Related Measures
[Billions of chained (2000) dollars; quarters seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------
2000 2001 2002 2003 I 00 II 00 III 00 IV 00 I 01 II 01
-------------------------------------------------------------------------------------------------------------------------------
Gross domestic product.......... 9,817.0 9,890.7 10,074.8 10,381.3 9,695.6 9,847.9 9,836.6 9,887.7 9,875.6 9,905.9
Personal consumption expenditures.... 6,739.4 6,910.4 7,123.4 7,355.6 6,661.3 6,703.3 6,768.0 6,825.0 6,853.1 6,870.3
Durable goods...................... 863.3 900.7 959.6 1,030.6 872.8 851.3 863.8 865.4 879.5 878.9
Motor vehicles and parts......... 386.5 405.8 428.7 452.1 403.3 376.1 383.2 383.5 392.6 388.6
Furniture and household
equipment....................... 312.9 331.8 360.7 393.5 306.7 311.3 315.9 317.8 323.8 328.1
Other............................ 163.9 163.2 170.9 186.5 162.9 163.9 164.7 164.1 163.3 162.6
Nondurable goods................... 1,947.2 1,986.7 2,037.4 2,112.4 1,917.2 1,944.0 1,955.0 1,972.7 1,975.2 1,974.7
Food............................. 925.2 940.2 958.4 995.1 916.1 925.6 927.8 931.2 937.1 938.3
Clothing and shoes............... 297.7 303.7 316.7 330.2 291.3 296.4 301.1 302.1 300.5 301.8
Gasoline, fuel oil, and other
energy goods.................... 191.5 193.4 196.0 197.3 191.6 190.2 189.1 195.2 196.4 188.4
Other............................ 532.9 549.2 566.3 589.6 518.4 531.9 537.1 544.1 540.8 546.0
Services........................... 3,928.8 4,023.2 4,128.6 4,220.3 3,871.1 3,908.2 3,949.3 3,986.8 3,997.9 4,016.0
Housing.......................... 1,006.5 1,033.7 1,062.0 1,076.1 995.7 1,003.3 1,009.9 1,016.9 1,024.4 1,031.2
Household operation.............. 390.1 391.0 394.1 400.2 376.3 388.6 392.5 403.0 397.6 389.5
Electricity and gas............ 143.3 140.9 144.7 147.2 133.9 142.0 143.8 153.6 148.5 138.8
Other household operation...... 246.8 250.2 249.4 253.0 242.4 246.8 248.9 249.2 248.8 251.0
Transportation................... 291.3 288.0 279.9 277.7 289.9 291.9 291.6 291.7 292.9 291.5
Medical care..................... 1,026.8 1,075.2 1,139.3 1,184.3 1,010.7 1,022.0 1,032.1 1,042.5 1,053.5 1,065.7
Recreation....................... 268.3 274.9 281.5 290.3 264.2 267.6 270.1 271.1 274.7 274.1
Other............................ 945.9 960.3 971.1 990.7 934.1 934.9 953.2 961.7 954.6 964.2
Gross private domestic investment.... 1,735.5 1,598.4 1,560.7 1,628.8 1,678.0 1,788.6 1,742.6 1,732.7 1,670.3 1,637.4
Fixed investment................... 1,679.0 1,629.4 1,548.9 1,627.3 1,651.1 1,689.1 1,686.4 1,689.4 1,678.2 1,640.5
Nonresidential................... 1,232.1 1,180.5 1,075.6 1,110.8 1,196.7 1,238.6 1,245.2 1,247.9 1,234.4 1,190.2
Structures..................... 313.2 306.1 251.6 237.4 299.9 312.5 319.7 320.6 313.8 310.6
Equipment and software......... 918.9 874.2 826.5 879.2 896.7 926.0 925.5 927.3 920.8 879.2
Information processing
equipment and software...... 467.6 459.0 439.6 492.4 442.9 465.7 473.8 488.1 485.7 461.4
Computers and peripheral
equipment................. ..... ..... ..... ..... ..... ..... ..... ..... ..... .....
Software................... 176.2 173.8 163.6 171.2 171.4 175.8 176.2 181.2 181.4 174.1
Other...................... 190.0 181.7 164.3 179.4 179.9 187.7 192.3 200.2 193.7 182.9
Industrial equipment......... 159.2 145.7 137.4 137.6 156.3 159.7 161.9 159.0 159.3 147.3
Transportation equipment..... 160.8 142.8 125.6 121.6 166.1 167.0 159.5 150.7 145.3 144.5
Other equipment.............. 131.2 126.9 124.5 131.2 131.3 133.6 130.4 129.6 130.9 126.3
Residential...................... 446.9 448.5 470.0 511.2 454.5 450.4 441.2 441.6 444.0 450.1
Change in private inventories...... 56.5 -31.7 11.7 -.8 26.9 99.3 56.2 43.5 -7.8 -2.5
Farm............................. -1.3 .0 -1.6 .3 -14.5 6.1 -2.7 5.7 5.5 -1.3
Nonfarm.......................... 57.8 -31.8 13.5 -1.1 41.5 93.2 58.8 37.8 -13.5 -1.1
Net exports of goods and services.... -379.5 -399.1 -472.1 -518.5 -350.6 -374.5 -395.6 -397.2 -398.2 -385.2
Exports............................ 1,096.3 1,036.7 1,012.3 1,031.8 1,060.9 1,092.0 1,120.0 1,112.3 1,097.2 1,060.6
Goods............................ 784.3 736.3 706.4 721.7 751.9 776.6 810.0 798.9 787.8 751.7
Services......................... 311.9 300.4 305.7 309.9 309.0 315.3 310.0 313.4 309.4 308.9
Imports............................ 1,475.8 1,435.8 1,484.4 1,550.3 1,411.5 1,466.5 1,515.6 1,509.5 1,495.4 1,445.8
Goods............................ 1,243.5 1,204.1 1,248.5 1,307.3 1,187.1 1,236.3 1,277.7 1,272.7 1,261.6 1,204.7
Services......................... 232.3 231.6 235.9 243.3 224.4 230.1 237.9 236.8 233.7 240.9
Government consumption expenditures
and gross investment................ 1,721.6 1,780.3 1,857.9 1,909.4 1,707.3 1,730.5 1,721.5 1,727.1 1,749.6 1,783.0
Federal............................ 578.8 601.4 646.6 689.6 568.2 591.2 578.6 577.2 588.5 601.4
National defense................. 370.3 384.9 414.6 451.8 362.6 377.1 369.9 371.5 377.9 381.9
Consumption expenditures....... 321.5 334.1 358.2 390.3 313.8 328.1 320.7 323.4 329.8 331.3
Gross investment............... 48.8 50.8 56.6 61.6 48.9 49.0 49.3 48.1 48.0 50.6
Nondefense....................... 208.5 216.5 232.0 237.6 205.6 214.0 208.7 205.6 210.6 219.5
Consumption expenditures....... 177.8 185.8 199.0 204.0 174.8 181.5 178.2 176.8 180.6 187.1
Gross investment............... 30.7 30.7 32.9 33.5 30.8 32.6 30.4 28.8 30.1 32.5
State and local.................... 1,142.8 1,179.0 1,211.4 1,219.8 1,139.2 1,139.3 1,142.9 1,149.9 1,161.1 1,181.6
Consumption expenditures....... 917.8 941.2 962.2 969.0 912.4 916.3 918.7 923.7 929.6 935.6
Gross investment............... 225.0 237.8 249.2 250.9 226.8 223.0 224.2 226.2 231.5 246.2
Residual............................. .1 1.2 -.9 -14.9 -.7 -.2 -.3 .2 .7 -.9
Addenda:
Final sales of domestic product.... 9,760.5 9,920.9 10,063.2 10,379.9 9,668.8 9,748.4 9,780.4 9,844.3 9,883.2 9,908.7
Gross domestic purchases........... 10,196.4 10,290.1 10,544.6 10,895.7 10,046.5 10,222.4 10,232.1 10,284.7 10,273.2 10,291.3
Final sales to domestic purchasers. 10,140.0 10,320.5 10,533.0 10,894.2 10,019.6 10,122.9 10,176.0 10,241.4 10,280.8 10,294.2
Gross domestic product............. 9,817.0 9,890.7 10,074.8 10,381.3 9,695.6 9,847.9 9,836.6 9,887.7 9,875.6 9,905.9
Plus: Income receipts
from the rest of the world........ 382.7 316.1 291.7 311.9 366.0 387.2 378.7 398.8 356.6 331.1
Less: Income payments to
the rest of the world............. 343.7 273.2 264.9 259.2 332.7 349.8 347.5 344.9 318.7 287.1
Equals: Gross national product..... 9,855.9 9,933.6 10,101.7 10,433.9 9,729.0 9,885.3 9,867.8 9,941.6 9,913.6 9,949.8
Net domestic product............... 8,629.1 8,616.2 8,777.9 9,045.8 8,537.6 8,669.3 8,638.5 8,671.2 8,640.8 8,642.1
-------------------------------------------------------------------------------------------------------------------------------
Note. Users are cautioned that particularly for components
that exhibit rapid change 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. For accurate estimates of the
contributions to percent changes in real gross domestic product, use table 2.
See "Explanatory Note" at the end of the tables.
Table 3B.--Real Gross Domestic Product and Related Measures--Continued
[Billions of chained (2000) dollars; quarters seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------
III 01 IV 01 I 02 II 02 III 02 IV 02 I 03 II 03 III 03 IV 03 I 04 II 04
-------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product.......... 9,871.1 9,910.0 9,993.5 10,052.6 10,117.3 10,135.9 10,184.4 10,287.4 10,472.8 10,580.7 10,697.5 10,778.0
Personal consumption expenditures.... 6,900.5 7,017.6 7,049.7 7,099.2 7,149.9 7,194.6 7,242.2 7,311.4 7,401.7 7,466.8 7,543.0 7,562.5
Durable goods...................... 885.6 958.7 937.8 947.8 979.3 973.4 973.2 1,020.0 1,059.6 1,069.7 1,075.5 1,068.7
Motor vehicles and parts......... 392.7 449.4 415.1 418.6 447.1 433.9 428.0 451.3 465.6 463.5 456.7 446.7
Furniture and household
equipment....................... 332.2 343.0 354.4 360.1 361.2 367.2 369.3 385.2 405.0 414.6 425.6 431.0
Other............................ 161.2 165.6 169.2 170.3 170.9 173.2 177.0 184.4 190.5 194.0 196.9 196.1
Nondurable goods................... 1,986.5 2,010.3 2,029.3 2,033.2 2,030.2 2,056.8 2,082.0 2,090.1 2,125.3 2,152.0 2,187.3 2,187.0
Food............................. 940.6 945.0 951.4 958.4 958.0 965.8 981.4 988.0 1,002.2 1,008.6 1,028.4 1,028.6
Clothing and shoes............... 302.9 309.8 316.4 316.2 312.9 321.2 320.6 327.1 334.9 338.2 351.2 346.0
Gasoline, fuel oil, and other
energy goods.................... 191.1 197.7 197.8 193.7 193.4 199.3 199.5 192.1 194.6 203.3 202.1 199.6
Other............................ 551.7 558.4 564.4 564.7 565.5 570.7 579.9 582.8 593.6 602.1 606.6 613.4
Services........................... 4,027.8 4,051.2 4,084.1 4,119.7 4,143.8 4,166.9 4,188.7 4,207.7 4,227.9 4,256.7 4,291.7 4,316.3
Housing.......................... 1,036.5 1,042.8 1,052.8 1,060.8 1,065.5 1,068.7 1,071.6 1,074.3 1,078.1 1,080.3 1,086.0 1,091.4
Household operation.............. 390.3 386.6 388.5 394.5 394.7 398.9 399.5 396.8 398.7 406.0 409.3 404.4
Electricity and gas............ 138.9 137.3 139.6 144.2 145.1 149.9 149.0 144.5 144.7 150.6 151.9 144.5
Other household operation...... 251.6 249.4 248.9 250.3 249.5 248.9 250.2 252.3 254.2 255.2 257.1 260.3
Transportation................... 285.9 281.6 282.0 280.9 278.5 278.2 279.3 277.7 277.1 276.7 278.1 279.6
Medical care..................... 1,082.7 1,099.1 1,117.1 1,132.5 1,147.0 1,160.5 1,170.0 1,179.7 1,189.3 1,198.3 1,207.9 1,222.3
Recreation....................... 274.5 276.2 279.5 280.7 281.6 284.4 286.4 289.6 291.2 294.1 298.3 298.4
Other............................ 957.8 964.6 963.8 969.7 975.8 975.4 981.1 988.8 992.5 1,000.3 1,011.2 1,019.1
Gross private domestic investment.... 1,592.6 1,493.4 1,552.5 1,553.7 1,569.2 1,567.3 1,564.0 1,577.6 1,659.4 1,714.1 1,764.5 1,818.4
Fixed investment................... 1,621.9 1,577.0 1,559.6 1,545.9 1,546.6 1,543.5 1,552.7 1,593.4 1,660.6 1,702.7 1,721.4 1,767.5
Nonresidential................... 1,169.3 1,128.2 1,099.8 1,072.4 1,069.5 1,060.9 1,060.5 1,090.6 1,131.1 1,161.0 1,173.0 1,198.1
Structures..................... 315.1 284.9 270.7 253.9 243.0 238.9 230.7 238.7 237.9 242.4 237.7 240.7
Equipment and software......... 852.9 843.8 830.1 820.6 829.8 825.5 834.6 856.7 899.7 925.6 943.7 966.4
Information processing
equipment and software...... 447.3 441.7 434.1 435.5 446.5 442.2 460.0 475.7 507.1 526.6 547.0 565.0
Computers and peripheral
equipment................. ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... .....
Software................... 172.3 167.4 163.8 162.9 165.9 161.7 164.9 166.8 174.6 178.5 185.6 189.5
Other...................... 177.8 172.2 163.7 164.9 165.4 163.2 169.6 173.7 183.9 190.4 200.2 206.0
Industrial equipment......... 140.6 135.4 141.5 136.0 136.6 135.4 137.9 137.3 138.4 136.8 139.0 138.6
Transportation equipment..... 137.6 144.0 134.1 124.3 121.9 121.9 113.9 120.5 124.3 127.8 122.7 125.7
Other equipment.............. 127.6 122.8 120.4 125.1 125.7 126.7 125.2 126.1 134.0 139.3 142.1 145.3
Residential...................... 452.1 447.8 457.8 470.3 473.6 478.5 487.3 497.9 523.8 535.9 542.5 562.3
Change in private inventories...... -29.9 -86.7 -7.4 7.9 22.7 23.8 9.6 -17.6 -3.5 8.6 40.0 47.5
Farm............................. 1.0 -5.1 4.4 -7.9 -1.7 -1.2 .1 -1.8 -.7 3.5 5.1 3.0
Nonfarm.......................... -31.1 -81.7 -11.9 16.1 24.6 25.3 9.6 -15.7 -2.7 4.6 34.5 44.9
Net exports of goods and services.... -398.4 -414.5 -444.9 -458.1 -469.8 -515.4 -511.7 -525.2 -508.7 -528.3 -550.1 -552.8
Exports............................ 1,008.7 980.3 991.6 1,017.8 1,025.5 1,014.5 1,010.6 1,006.5 1,033.8 1,076.2 1,095.4 1,129.9
Goods............................ 710.9 694.7 691.4 714.4 719.5 700.5 707.3 705.9 723.1 750.6 767.2 793.7
Services......................... 297.7 285.6 300.0 303.3 305.9 313.6 303.1 300.4 310.5 325.4 328.1 336.0
Imports............................ 1,407.1 1,394.9 1,436.5 1,475.9 1,495.3 1,529.8 1,522.3 1,531.7 1,542.5 1,604.5 1,645.5 1,682.6
Goods............................ 1,177.9 1,172.1 1,200.7 1,244.2 1,262.1 1,287.2 1,281.3 1,297.3 1,297.3 1,353.2 1,394.1 1,423.4
Services......................... 229.0 222.8 235.4 232.0 233.6 242.7 241.2 235.3 245.2 251.7 252.4 260.1
Government consumption expenditures
and gross investment................ 1,776.1 1,812.7 1,833.5 1,853.4 1,863.1 1,881.6 1,882.5 1,915.3 1,916.0 1,923.7 1,935.8 1,946.8
Federal............................ 601.5 614.2 626.4 645.5 650.1 664.5 665.0 699.0 693.1 701.2 713.3 718.1
National defense................. 384.1 395.6 401.3 412.3 415.8 429.2 426.2 462.3 453.1 465.7 477.6 479.9
Consumption expenditures....... 332.1 343.1 348.6 355.7 356.5 371.9 367.8 401.0 391.1 401.4 408.5 412.5
Gross investment............... 52.1 52.5 52.6 56.8 59.6 57.2 58.5 61.2 62.1 64.6 69.9 67.9
Nondefense....................... 217.3 218.6 225.2 233.2 234.3 235.3 238.8 236.5 239.9 235.2 235.4 237.9
Consumption expenditures....... 187.3 188.2 193.0 198.5 201.4 203.2 206.6 200.9 206.7 202.0 201.8 201.2
Gross investment............... 30.0 30.4 32.2 34.8 32.8 32.0 32.1 35.7 33.1 33.2 33.6 37.0
State and local.................... 1,174.6 1,198.5 1,207.2 1,208.0 1,213.1 1,217.3 1,217.7 1,216.3 1,222.9 1,222.5 1,222.4 1,228.7
Consumption expenditures....... 945.2 954.5 957.0 960.9 963.7 967.3 967.7 968.6 968.8 970.9 971.5 971.8
Gross investment............... 229.4 244.0 250.3 247.1 249.5 250.1 250.1 247.7 254.3 251.6 251.0 257.2
Residual............................. 3.3 1.4 -1.4 .3 -2.4 -.5 -1.6 -8.2 -23.5 -26.7 -31.3 -35.7
Addenda:
Final sales of domestic product.... 9,899.9 9,992.3 10,000.4 10,044.9 10,095.2 10,112.5 10,173.3 10,302.5 10,473.9 10,569.6 10,655.8 10,728.8
Gross domestic purchases........... 10,270.1 10,325.6 10,437.7 10,508.9 10,584.8 10,646.7 10,692.0 10,808.1 10,978.3 11,104.3 11,241.9 11,324.7
Final sales to domestic purchasers. 10,299.1 10,408.4 10,444.7 10,501.1 10,562.7 10,623.3 10,680.8 10,823.3 10,979.4 11,093.2 11,200.1 11,275.4
Gross domestic product............. 9,871.1 9,910.0 9,993.5 10,052.6 10,117.3 10,135.9 10,184.4 10,287.4 10,472.8 10,580.7 10,697.5 10,778.0
Plus: Income receipts
from the rest of the world........ 299.2 277.5 281.0 294.8 301.8 289.1 290.1 294.5 312.1 350.7 349.6 .....
Less: Income payments to
the rest of the world............. 282.6 204.3 257.4 278.7 276.7 246.7 254.4 251.2 263.2 268.0 280.3 .....
Equals: Gross national product..... 9,887.7 9,983.1 10,017.2 10,068.9 10,142.4 10,178.4 10,220.3 10,330.8 10,521.7 10,663.3 10,766.7 .....
Net domestic product............... 8,547.2 8,634.8 8,711.2 8,760.3 8,815.3 8,824.7 8,864.9 8,957.6 9,132.0 9,228.4 9,344.1 9,417.3
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Note. Users are cautioned that particularly for components
that exhibit rapid change 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. For accurate estimates of the
contributions to percent changes in real gross domestic product, use table 2.
See "Explanatory Note" at the end of the tables.
Table 4.--Price Indexes for Gross Domestic Product and Related Measures: Percent Change From Preceding Period
[Quarters seasonally adjusted at annual rates]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2000 2001 2002 2003 IV 00 I 01 II 01 III 01 IV 01 I 02 II 02 III 02 IV 02 I 03 II 03 III 03 IV 03 I 04 II 04
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product (GDP). 2.2 2.4 1.7 1.8 1.8 3.3 3.1 1.6 1.7 1.4 1.5 1.7 2.0 2.7 1.1 1.4 1.6 2.8 3.2
Personal consumption expenditures... 2.5 2.1 1.4 1.9 1.8 3.3 2.6 .6 .6 .9 2.9 2.0 1.4 3.2 .7 1.6 1.2 3.3 3.3
Durable goods..................... -1.6 -1.9 -2.7 -3.4 -1.0 -1.4 -3.1 -2.8 -1.6 -3.8 -2.5 -2.1 -2.8 -3.7 -3.8 -4.4 -4.3 .0 -.1
Nondurable goods.................. 4.0 1.5 .6 2.0 1.4 1.4 3.5 -.9 -4.0 .0 5.4 1.3 1.2 5.1 -2.2 3.5 .5 5.3 6.7
Services.......................... 2.7 3.3 2.7 3.0 2.6 5.3 3.4 2.0 3.3 2.3 2.8 3.2 2.4 3.8 3.1 2.0 2.7 3.0 2.3
Gross private domestic investment... 1.0 1.0 .2 1.1 .8 .0 1.5 2.1 .2 -1.0 -.1 -.5 2.6 1.4 -.1 1.2 2.7 2.1 3.6
Fixed investment.................. 1.1 1.0 .2 1.2 .9 -.3 1.8 2.2 .1 -1.1 -.1 -.4 2.7 1.9 -.3 1.2 2.8 2.0 3.4
Nonresidential.................. -.1 -.3 -.8 -.4 .0 -2.3 .6 .3 -1.0 -1.3 -1.1 -1.3 .6 -.5 -1.3 .3 1.2 .3 1.5
Structures.................... 3.9 5.4 2.4 2.1 5.0 6.0 6.5 6.6 2.1 .0 2.1 1.6 3.0 3.9 .0 1.3 1.4 4.8 5.8
Equipment and software........ -1.3 -2.3 -1.9 -1.2 -1.7 -5.1 -1.5 -2.0 -2.2 -1.7 -2.2 -2.2 -.1 -1.9 -1.7 .0 1.2 -1.1 .2
Residential..................... 4.4 4.6 2.5 4.4 3.4 5.5 5.0 6.9 2.8 -.8 2.1 1.6 7.1 6.8 1.7 3.1 5.8 5.4 7.0
Change in private inventories..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... .....
Net exports of goods and services... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... .....
Exports........................... 1.7 -.4 -.4 2.1 .4 .1 -1.3 -2.0 -3.5 -1.2 3.0 3.0 .4 4.1 1.0 .8 3.2 5.7 4.5
Goods........................... 1.1 -.7 -.7 2.0 .4 -.1 -1.6 -2.6 -3.8 -1.4 2.2 3.3 .5 3.5 1.6 -.6 4.2 6.4 5.5
Services........................ 3.1 .4 .4 2.4 .6 .6 -.7 -.6 -2.8 -.6 4.8 2.4 .3 5.4 -.6 4.0 .9 4.0 2.5
Imports........................... 4.2 -2.5 -1.2 3.4 .7 -3.0 -5.9 -5.3 -10.0 -1.9 10.5 3.4 .5 11.3 -4.3 2.6 .9 9.6 5.9
Goods........................... 4.8 -3.0 -1.8 2.9 .8 -3.8 -6.6 -6.5 -11.3 -2.0 10.8 2.6 .4 12.0 -6.7 2.4 .4 9.9 7.4
Services........................ 1.4 .1 1.7 5.9 .3 1.5 -2.2 1.2 -3.3 -1.2 8.8 7.7 .9 7.9 8.4 3.6 3.5 8.3 -1.0
Government consumption expenditures
and gross investment............... 4.1 2.5 |
