Table 2.—Revisions to Summary National Income and Product Accounts, 1929-96

[Billions of dollars]

	1929	1947	1958	1959	1987	1992	1995	1996
	Account 1.—National Income and Product Account
Proprietors' income with inventory valuation and capital consumption adjustments	0.4	0.1	0.1	1.3	12.2	14.3	7.8	9.0
Farm	.1	.1	.3	0	-.8	-.9	-1.1	-1.7
Nonfarm	.3	0	-.2	1.3	13.0	15.2	8.9	10.7
Rental income of persons with capital consumption adjustment	.7	1.5	3.0	-.5	-.7	-1.2	-10.5	-11.8
Corporate profits with inventory valuation and capital consumption adjustments	.1	.2	.4	2.7	23.5	26.6	18.2	16.2
Other national income/1/	0	0	0	0	0	0	0	0
National Income	1.2	1.8	3.5	3.5	34.9	39.6	15.4	13.3
Business transfer payments, indirect business tax and nontax liability, less subsidies less current surplus of government enterprises	.2	.4	.9	0	0	0	0	0
Consumption of fixed capital	-.3	8.8	9.8	-4.0	-36.1	-40.7	-14.8	-12.8
Private	-1.1	-1.9	-3.8	-4.0	-36.1	-40.7	-14.8	-12.8
Government	.8	10.7	13.6	0	0	0	0	0
Gross national income	.7	10.2	12.4	-.5	-1.2	-1.2	.6	.5
Statistical discrepancy	0	.1	.2	.5	1.2	1.1	-.6	-.5
Gross national product	.7	10.3	12.6	0	0	0	0	0
Less: Receipts of factor income from the rest of the world	0	0	0	0	0	0	0	0
Plus: Payments of factor income to the rest of the world	0	0	0	0	0	0	0	0
GROSS DOMESTIC PRODUCT	.7	10.3	12.6	0	0	0	0	0
Government consumption expenditures and gross investment	.7	10.3	12.6	0	0	0	0	0
Federal	.2	9.0	9.8	0	0	0	0	0
State and local	.5	1.3	2.8	0	0	0	0	0
Other gross domestic product/2/	0	0	0	0	0	0	0	0
GROSS DOMESTIC PRODUCT	.7	10.3	12.6	0	0	0	0	0
	Account 2.—Personal Income and Outlay Account
Proprietors' income with inventory valuation and capital consumption adjustments	0.4	0.1	0.1	1.3	12.2	14.3	7.8	9.0
Rental income of persons with capital consumption adjustment	.7	1.5	3.0	-.5	-.7	-1.2	-10.5	-11.8
Other personal income/3/	0	0	0	0	0	0	0	0
PERSONAL INCOME	1.0	1.7	3.1	.9	11.4	13.0	-2.7	-2.8
Less: Personal tax and nontax payments	0	0	0	0	0	0	0	0
Disposable personal income	1.1	1.6	3.1	.9	11.5	13.0	-2.7	-2.8
Less: Personal outlays	0	0	0	0	0	0	0	0
Personal saving	1.0	1.7	3.1	.9	11.5	13.0	-2.7	-2.8
PERSONAL TAXES, OUTLAYS, AND SAVING	1.0	1.7	3.1	.9	11.5	13.0	-2.7	-2.8
	Account 3.—Government Receipts and Expenditures Account
Consumption expenditures	-2.1	5.7	-13.8	0	0	0	0	0
Subsidies less current surplus of government enterprises	.1	.4	.9	0	0	0	0	0
Other consumption expenditures/4/	0	0	0	0	0	0	0	0
Current surplus or deficit (-), national income and product accounts	2.0	-6.1	12.9	0	0	0	0	0
Federal	0	-7.4	3.0	0	0	0	0	0
State and local	0	0.3	9.9	0	0	0	0	0
GOVERNMENT CURRENT EXPENDITURES AND SURPLUS	-2.1	.1	0	0	0	0	0	0
GOVERNMENT RECEIPTS	0	0	0	0	0	0	0	0
	Account 4.—Foreign Transactions Account
RECEIPTS FROM THE REST OF THE WORLD	0	0	0	0	0	0	0	0
PAYMENTS TO THE REST OF THE WORLD	0	0	0	0	0	0	0	0
	Account 5.—Gross Saving and Investment Account
Gross private domestic investment	0	0	0	0	0	0	0	0
Gross government investment	2.8	4.6	26.5	0	0	0	0	0
Net foreign investment	0	0	0	0	0	0	0	0
GROSS INVESTMENT	2.8	4.6	26.5	0	0	0	0	0
Personal saving	1.0	1.7	3.1	.9	11.5	13.0	-2.7	-2.8
Undistributed corporate profits with inventory valuation and capital consumption adjustments	.1	.2	.4	2.6	23.4	26.6	18.1	16.1
Consumption of fixed capital	-.3	8.8	9.8	-4.0	-36.1	-40.7	-14.8	-12.8
Private	-1.1	-1.9	-3.8	-4.0	-36.1	-40.7	-14.8	-12.8
Government	.8	10.7	13.6	0	0	0	0	0
Government current surplus or deficit, national income and product accounts	2.0	-6.1	12.9	0	0	0	0	0
Other saving/5/	0	0	0	0	0	0	0	0
Statistical discrepancy	0	.1	.2	.5	1.2	1.1	-.6	-.5
GROSS SAVING AND STATISTICAL DISCREPANCY	2.8	4.6	26.5	0	0	0	0	0

1. Consists of compensation of employees and net interest.

2. Consists of personal consumption expenditures, gross private domestic investment, and net export of goods and services.

3. Consists of wage and salary disbursements, other labor income, personal dividend income, personal interest income, and transfer payments to persons, less personal contributions for social insurance.

4. Consists of transfer payments and net interest paid, less dividends received by government and wage accruals less disbursements.

5. Consists of wage accruals less disbursements (private), and capital grants received by the United States (net).

NOTE.—The revised 1929-58 estimates reflect the definitional and statistical changes incorporated last year into the 1959-96 estimates including BEA's improved measures of output and prices, the change that recognizes investment, and an improved methodology for calculating depreciation. The 1959-96 estimates, which already had been revised in January 1996 to reflect these improvements, have now been revised primarily so that they will be consistent with the newly available wealth estimates presented beginning on page 69 of this issue of the Survey.