Appendix A.—Revisions to the National Income and Product Accounts

[Billions of dollars]

1993 1994 1995 1996
Revised Revision Revised Revision Revised Revision Revised Revision
Account 1.—National Income and Product Account
Compensation of employees 3,814.9 5.4 4,012.0 2.2 4,215.4 -7.3 4,426.9 -21.6
Wage and salary accruals 3,094.0 -1.3 3,254.0 -3.3 3,442.6 9.4 3,633.6 3.5
Disbursements 3,089.6 -1.1 3,240.7 -1.1 3,429.5 -1.1 3,632.5 2.4
Wage accruals less disbursement 4.4 -.2 13.3 -2.2 13.1 10.4 1.1 1.1
Supplements to wages and salaries 720.8 6.6 758.0 5.6 772.9 -16.6 793.3 -25.1
Employer contributions for social insurance 335.7 2.4 353.0 2.8 366.0 .5 385.7 3.5
Other labor income 385.1 4.2 405.0 2.8 406.8 -17.2 407.6 -28.6
Proprietors' income with inventory valuation and capital consumption adjustments 450.8 14.9 471.6 7.2 489.0 2.9 520.3 -7.0
Rental income of persons with capital consumption adjustment 105.7 3.5 124.4 12.3 132.8 21.1 146.3 31.3
Corporate profits with inventory valuation and capital consumption adjustments 492.8 .7 570.5 16.4 650.0 45.2 735.9 65.7
Corporate profits with inventory valuation adjustment 456.9 -.8 519.1 1.2 598.4 27.6 674.1 43.1
Profits before tax 465.4 1.1 535.1 3.9 622.6 23.7 676.6 36.7
Profits tax liability 165.2 1.4 186.6 -8.7 213.2 -5.5 229.0 -4.0
Profits after tax 300.2 -.3 348.5 12.6 409.4 29.2 447.6 40.8
Dividends 195.8 -1.5 216.2 5.2 264.4 37.0 304.8 60.6
Undistributed profits 104.5 1.3 132.3 7.5 145.0 -7.8 142.8 -19.8
Inventory valuation adjustment -8.5 -1.9 -16.1 -2.8 -24.3 3.8 -2.5 6.4
Capital consumption adjustment 36.0 1.6 51.4 15.2 51.6 17.6 61.8 22.6
Net interest 402.5 3.6 412.3 17.4 425.1 21.5 425.1 21.8
National income 5,266.8 28.3 5,590.7 55.5 5,912.3 83.4 6,254.5 90.3
Business transfer payments 28.2 .1 30.5 .4 32.2 1.4 33.6 1.4
To persons 22.1 0 23.7 1.1 25.0 2.4 26.0 3.0
To the rest of the world 6.0 0 6.8 -.7 7.3 -.9 7.6 -1.6
Indirect business tax and nontax liability 532.5 -7.5 568.5 -4.0 582.8 -12.7 604.8 -13.1
Less: Subsidies less current surplus of government enterprises 31.1 -.6 26.6 1.5 25.2 7.0 25.4 7.9
Consumption of fixed capital 727.9 -1.8 777.5 -7.3 796.8 -14.3 830.1 -15.4
Private 594.5 -1.5 638.6 -6.1 653.0 -11.4 682.7 -13.7
Government 133.4 -.4 138.8 -1.3 143.8 -2.9 147.4 -1.7
General government 114.3 -.4 118.2 -1.2 122.4 -2.9 125.1 -1.7
Government enterprises 19.1 0 20.6 -.1 21.4 .1 22.3 -.1
Gross national income 6,524.2 19.5 6,940.6 43.2 7,298.9 50.7 7,697.6 55.3
Statistical discrepancy 52.6 -6.2 14.6 -19.9 -28.2 -26.7 -59.9 15.2
Gross national product 6,576.8 13.3 6,955.2 23.3 7,270.6 23.9 7,637.7 70.6
Less: Receipts of factor income from the rest of the world 150.8 10.1 176.5 13.1 222.8 14.5 234.3 5.9
Plus: Payments of factor income to the rest of the world 132.1 2.0 168.3 1.1 217.5 2.2 232.6 -4.7
GROSS DOMESTIC PRODUCT 6,558.1 5.1 6,947.0 11.3 7,265.4 11.6 7,636.0 59.9
Personal consumption expenditures 4,459.2 5.1 4,717.0 16.1 4,957.7 32.8 5,207.6 56.2
Durable goods 530.2 -.5 579.5 -1.4 608.5 2.1 634.5 2.4
Nondurable goods 1,370.7 1.8 1,428.4 -1.3 1,475.8 -10.1 1,534.7 -10.4
Services 2,558.4 3.8 2,709.1 18.8 2,873.4 40.8 3,038.4 64.1
Gross private domestic investment 876.2 5.1 1,007.9 -6.5 1,038.2 -27.1 1,116.5 -.5
Fixed investment 855.7 5.2 946.6 -8.3 1,008.1 -20.1 1,090.7 -10.8
Nonresidential 604.1 5.3 660.6 -6.6 723.0 -15.5 781.4 -9.7
Structures 176.4 4.6 184.5 4.3 200.6 .9 215.2 .9
Producers' durable equipment 427.7 .7 476.1 -10.9 522.4 -16.4 566.2 -10.6
Residential 251.6 -.1 286.0 -1.7 285.1 -4.7 309.2 -1.3
Change in business inventories 20.5 -.1 61.2 1.7 30.1 -6.9 25.9 10.5
Net exports of goods and services -60.7 2.0 -90.9 3.5 -86.0 8.7 -94.8 3.9
Exports 658.6 .8 721.2 2.1 818.4 11.0 870.9 15.7
Imports 719.3 -1.2 812.1 -1.4 904.5 2.5 965.7 11.8
Government consumption expenditures and gross investment 1,283.4 -7.0 1,313.0 -1.7 1,355.5 -2.8 1,406.7 .3
Federal 518.3 -4.3 510.2 -6.2 509.6 -7.0 520.0 -3.1
National defense 360.7 -2.0 349.2 -2.8 344.6 -.9 352.8 5.7
Nondefense 157.7 -2.2 161.0 -3.3 165.0 -6.0 167.3 -8.7
State and local 765.0 -2.8 802.8 4.4 846.0 4.3 886.7 3.4
GROSS DOMESTIC PRODUCT 6,558.1 5.1 6,947.0 11.3 7,265.4 11.6 7,636.0 59.9
Account 2.—Personal Income and Outlay Account
Personal tax and nontax payments 690.0 .1 739.1 7.7 795.1 .8 886.9 23.1
Personal outlays 4,580.7 4.9 4,842.1 9.8 5,101.1 29.6 5,368.8 54.8
Personal consumption expenditures 4,459.2 5.1 4,717.0 16.1 4,957.7 32.8 5,207.6 56.2
Interest paid by persons 108.2 -.7 110.9 -6.3 128.5 -3.2 145.2 -1.1
Personal transfer payments to the rest of the world (net) 13.3 .5 14.2 0 14.8 -.1 15.9 -.4
Personal saving 248.5 18.6 210.6 12.3 254.6 8.0 239.6 -32.0
PERSONAL TAXES, OUTLAYS, AND SAVING 5,519.2 23.6 5,791.8 29.8 6,150.8 38.4 6,495.2 45.7
Wage and salary disbursements 3,089.6 -1.1 3,240.7 -1.1 3,429.5 -1.1 3,632.5 2.4
Other labor income 385.1 4.2 405.0 2.8 406.8 -17.2 407.6 -28.6
Proprietors' income with inventory valuation and capital consumption adjustments 450.8 14.9 471.6 7.2 489.0 2.9 520.3 -7.0
Rental income of persons with capital consumption adjustment 105.7 3.5 124.4 12.3 132.8 21.1 146.3 31.3
Personal dividend income 185.3 -1.5 204.8 5.2 251.9 37.1 291.2 60.6
Dividends 195.8 -1.5 216.2 5.2 264.4 37.0 304.8 60.6
Less: Dividends received by government 10.5 0 11.4 0 12.5 -.1 13.6 -.1
Personal interest income 651.0 2.9 668.1 4.4 718.9 1.8 735.7 -2.5
Net interest 402.5 3.6 412.3 17.4 425.1 21.5 425.1 21.8
Net interest paid by government 140.3 -.1 144.9 -6.7 165.2 -16.5 165.4 -23.1
Interest paid by persons 108.2 -.7 110.9 -6.3 128.5 -3.2 145.2 -1.1
Transfer payments to persons 912.0 1.3 954.7 -1.6 1,015.0 -7.6 1,068.0 -11.7
From business 22.1 0 23.7 1.1 25.0 2.4 26.0 3.0
From government 889.8 1.2 930.9 -2.9 990.0 -10.0 1,042.0 -14.7
Less: Personal contributions for social insurance 260.3 .7 277.5 -.6 293.1 -1.4 306.3 -1.2
PERSONAL INCOME 5,519.2 23.6 5,791.8 29.8 6,150.8 38.4 6,495.2 45.7
Account 3.—Government Receipts and Expenditures Account
Consumption expenditures 1,078.9 -.9 1,107.0 4.6 1,142.1 5.7 1,182.4 9.3
Transfer payments 907.1 1.2 947.3 -3.0 1,001.5 -10.0 1,058.3 -14.8
To persons 889.8 1.2 930.9 -2.9 990.0 -10.0 1,042.0 -14.7
To the rest of the world (net) 17.3 0 16.4 -.1 11.5 0 16.3 -.1
Net interest paid 140.3 -.1 144.9 -6.7 165.2 -16.5 165.4 -23.1
Less: Dividends received by government 10.5 0 11.4 0 12.5 -.1 13.6 -.1
Subsidies less current surplus of government enterprises 31.1 -.6 26.6 1.5 25.2 7.0 25.4 7.9
Less: Wage accruals less disbursements 0 0 0 0 0 0 0 0
Current surplus or deficit (-), national income and product accounts -163.2 -2.5 -89.8 .7 -71.4 -4.7 -5.1 29.0
Federal -250.7 4.9 -186.7 3.5 -174.4 -12.7 -110.5 16.6
State and local 87.4 -7.5 96.8 -2.9 103.1 8.1 105.3 12.3
GOVERNMENT CURRENT EXPENDITURES AND SURPLUS 1,983.7 -2.9 2,124.7 -2.8 2,250.2 -18.2 2,412.7 8.3
Personal tax and nontax payments 690.0 .1 739.1 7.7 795.1 .8 886.9 23.1
Corporate profits tax liability 165.2 1.4 186.6 -8.7 213.2 -5.5 229.0 -4.0
Indirect business tax and nontax liability 532.5 -7.5 568.5 -4.0 582.8 -12.7 604.8 -13.1
Contributions for social insurance 596.0 3.1 630.5 2.2 659.1 -.9 692.0 2.3
Employer 335.7 2.4 353.0 2.8 366.0 .5 385.7 3.5
Personal 260.3 .7 277.5 -.6 293.1 -1.4 306.3 -1.2
GOVERNMENT RECEIPTS 1,983.7 -2.9 2,124.7 -2.8 2,250.2 -18.2 2,412.7 8.3
Account 4.—Foreign Transactions Account
Exports of goods and services 658.6 .8 721.2 2.1 818.4 11.0 870.9 15.7
Receipts of factor income 150.8 10.1 176.5 13.1 222.8 14.5 234.3 5.9
Capital grants received by the United States (net) 0 0 0 0 0 0 0 0
RECEIPTS FROM THE REST OF THE WORLD 809.4 10.9 897.7 15.2 1,041.2 25.6 1,105.1 21.5
Imports of goods and services 719.3 -1.2 812.1 -1.4 904.5 2.5 965.7 11.8
Payments of factor income 132.1 2.0 168.3 1.1 217.5 2.2 232.6 -4.7
Transfer payments to the rest of the world (net) 36.6 .5 37.3 -.9 33.6 -1.0 39.8 -2.1
From persons (net) 13.3 .5 14.2 0 14.8 -.1 15.9 -.4
From government (net) 17.3 0 16.4 -.1 11.5 0 16.3 -.1
From business 6.0 0 6.8 -.7 7.3 -.9 7.6 -1.6
Net foreign investment -78.6 9.6 -120.0 16.4 -114.4 21.9 -132.9 16.6
PAYMENTS TO THE REST OF THE WORLD 809.4 10.9 897.7 15.2 1,041.2 25.6 1,105.1 21.5
Account 5.—Gross Saving and Investment Account
Gross private domestic investment 876.2 5.1 1,007.9 -6.5 1,038.2 -27.1 1,116.5 -.5
Gross government investment 204.5 -6.1 205.9 -6.4 213.4 -8.5 224.3 -9.0
Net foreign investment -78.6 9.6 -120.0 16.4 -114.4 21.9 -132.9 16.6
GROSS INVESTMENT 1,002.1 8.6 1,093.8 3.4 1,137.2 -13.7 1,207.9 7.1
Personal saving 248.5 18.6 210.6 12.3 254.6 8.0 239.6 -32.0
Wage accruals less disbursements (private) 4.4 -.2 13.3 -2.2 13.1 10.4 1.1 1.1
Undistributed corporate profits with inventory valuation and capital consumption adjustments 131.9 .9 167.6 19.8 172.4 13.7 202.1 9.2
Consumption of fixed capital 727.9 -1.8 777.5 -7.3 796.8 -14.3 830.1 -15.4
Private 594.5 -1.5 638.6 -6.1 653.0 -11.4 682.7 -13.7
Government 133.4 -.4 138.8 -1.3 143.8 -2.9 147.4 -1.7
General government 114.3 -.4 118.2 -1.2 122.4 -2.9 125.1 -1.7
Government enterprises 19.1 0 20.6 -.1 21.4 .1 22.3 -.1
Government current surplus or deficit (-), national income and product accounts -163.2 -2.5 -89.8 .7 -71.4 -4.7 -5.1 29.0
Capital grants received by the United States (net) 0 0 0 0 0 0 0 0
Statistical discrepancy 52.6 -6.2 14.6 -19.9 -28.2 -26.7 -59.9 15.2
GROSS SAVING AND STATISTICAL DISCREPANCY 1,002.1 8.6 1,093.8 3.4 1,137.2 -13.7 1,207.9 7.1