EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, JULY 28, 2017 BEA 17-38
Technical: Lisa Mataloni (GDP) (301) 278-9080 gdpniwd@bea.gov
Dave Wasshausen (Annual Update) (301) 278-9752
Media: Jeannine Aversa (301) 278-9003 Jeannine.Aversa@bea.gov
National Income and Product Accounts
Gross Domestic Product: Second Quarter 2017 (Advance Estimate)
Annual Update: 2014 through First Quarter 2017
Real gross domestic product increased at an annual rate of 2.6 percent in the second quarter of 2017
(table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first
quarter, real GDP increased 1.2 percent (revised).
The Bureau emphasized that the second-quarter advance estimate released today is based on source
data that are incomplete or subject to further revision by the source agency (see �Source Data for the
Advance Estimate� on page 3). The "second" estimate for the second quarter, based on more complete
data, will be released on August 30, 2017.
The increase in real GDP in the second quarter reflected positive contributions from personal
consumption expenditures (PCE), nonresidential fixed investment, exports, and federal government
spending that were partly offset by negative contributions from private residential fixed investment,
private inventory investment, and state and local government spending. Imports, which are a
subtraction in the calculation of GDP, increased (table 2).
CHART
Box___
Annual Update of the National Income and Product Accounts
The estimates released today reflect the results of the annual update of the national income and
product accounts (NIPAs) in conjunction with the "advance" estimate of GDP for the second quarter of
2017. The update covers the first quarter of 2014 through the first quarter of 2017. For more
information, see information on the "2017 Annual Update" on BEA�s Web site. Additionally, the August
Survey of Current Business will contain an article that describes the results in detail.
______
The acceleration in real GDP growth in the second quarter reflected a smaller decrease in private
inventory investment, an acceleration in PCE, and an upturn in federal government spending. These
movements were partly offset by a downturn in residential fixed investment and decelerations in
exports and in nonresidential fixed investment.
Current-dollar GDP increased 3.6 percent, or $169.0 billion, in the second quarter to a level of $19,226.7
billion. In the first quarter, current-dollar GDP increased 3.3 percent (revised), or $152.2 billion (table 1
and table 3).
The price index for gross domestic purchases increased 0.8 percent in the second quarter, compared
with an increase of 2.6 percent in the first quarter (revised) (table 4). The PCE price index increased 0.3
percent, compared with an increase of 2.2 percent. Excluding food and energy prices, the PCE price
index increased 0.9 percent, compared with an increase of 1.8 percent (appendix table A).
Personal Income (table 10)
Current-dollar personal income increased $118.9 billion in the second quarter, compared with an
increase of $217.6 billion in the first quarter (revised). The deceleration in personal income primarily
reflected decelerations in wages and salaries, in government social benefits, in nonfarm proprietors�
income, and in rental income, and downturns in personal interest income and in farm proprietors�
income. These movements were offset by an upturn in personal dividend income.
Disposable personal income increased $122.1 billion, or 3.5 percent, in the second quarter, compared
with an increase of $176.3 billion, or 5.1 percent, in the first quarter (revised). Real disposable personal
income increased 3.2 percent, compared with an increase of 2.8 percent.
Personal saving was $546.8 billion in the second quarter, compared with $553.0 billion in the first
quarter (revised). The personal saving rate -- personal saving as a percentage of disposable personal
income -- was 3.8 percent in the second quarter, compared with 3.9 percent in the first.
Source Data for the Advance Estimate
Information on the source data in the advance estimate is provided in a Technical Note that is posted
with the news release on BEA�s Web site. A detailed "Key Source Data and Assumptions" file is also
posted for each release. For information on updates to GDP, see the �Additional Information� section
that follows.
Annual Update of the National Income and Product Accounts
Updated estimates of the national income and product accounts (NIPAs), which are usually made each
July, incorporate newly available and more comprehensive source data, as well as improved estimation
methodologies. This year, the notable revisions primarily reflect the incorporation of newly available
and revised source data. The timespan of the revisions is the first quarter of 2014 through the first
quarter of 2017. The reference year remains 2009.
With the release of the updated statistics, select NIPA tables will be available on BEA�s Web site
(www.bea.gov). Shortly after the GDP release, BEA will post a table on its Web site showing the major
current-dollar revisions and their sources for each component of GDP, national income, and personal
income. Additionally, the August 2017 Survey of Current Business will contain an article describing these
revisions.
Updates for the first quarter of 2017
For the first quarter of 2017, real GDP is now estimated to have increased 1.2 percent; in the previously
published estimates, first-quarter GDP was estimated to have increased 1.4 percent. The 0.2-percentage
point downward revision to the percent change in first-quarter real GDP reflected downward revisions
to nonresidential fixed investment, to private inventory investment, to residential fixed investment, and
to federal government spending, and an upward revision to imports. These movements were partly
offset by upward revisions to PCE, to state and local government spending, and to exports.
Real GDI is now estimated to have increased 2.6 percent in the first quarter; in the previously published
estimates, first-quarter GDI was estimated to have increased 1.0 percent.
First Quarter 2017
Previous Estimate Revised
(Percent change from preceding quarter)
Real GDP 1.4 1.2
Current-dollar GDP 3.4 3.6
Real GDI 1.0 2.6
Average of GDP and GDI 1.2 1.9
Gross domestic purchases price index 2.5 2.6
PCE price index 2.4 2.2
Real GDP (Tables 1A, 1B, and 2A)
The updated statistics largely reflect the incorporation of newly available and revised source data (see
the box below) and improvements to existing methodologies.
* From 2013 to 2016, real GDP increased at an average annual rate of 2.3 percent; in the
previously published estimates, real GDP had increased at an average annual rate of 2.2 percent.
From the fourth quarter of 2013 to the first quarter of 2017, real GDP increased at an average
annual rate of 2.1 percent, the same as previously published.
CHART 2____
* The percent change in real GDP was revised up 0.2 percentage point for 2014, was revised up
0.3 percentage point for 2015, and was revised down 0.1 percentage point for 2016.
o For 2014, upward revisions to nonresidential fixed investment, inventory investment,
and state and local government spending were partly offset by an upward revision to
imports.
o For 2015, upward revisions to personal consumption expenditures (PCE), inventory
investment, exports, and nonresidential fixed investment were partly offset by
downward revisions to state and local government spending and to residential fixed
investment, and by an upward revision to imports.
o For 2016, downward revisions to exports, federal government spending, and inventory
investment were partly offset by an upward revision to state and local government
spending.
* The revisions to the annual estimates typically reflect partly offsetting revisions to the quarters
within the year.
o For 2014, the annual rate of change in GDP was revised up 0.3 percentage point for the
first quarter, 0.6 percentage point for the second quarter, and 0.2 percentage point for
the third quarter; these upward revisions were partly offset by a downward revision of
0.3 percentage point for the fourth quarter.
o For 2015, upward revisions of 1.2 percentage points for the first quarter and 0.1
percentage point for the second quarter were partly offset by downward revisions of 0.4
percentage point for both the third and fourth quarters.
o For 2016, downward revisions of 0.2 percentage point for the first quarter, 0.7
percentage point for the third quarter, and 0.3 percentage point for the fourth quarter
were partly offset by an upward revision of 0.8 percentage point for the second quarter.
* For the first quarter of 2014 through the first quarter of 2017, the average revision (without
regard to sign) in the percent change in real GDP was 0.4 percentage point. The revisions did
not change the direction of the change in real GDP (increase or decrease) for any of the
quarters.
* For the period of economic expansion from the second quarter of 2009 to the first quarter of
2017, real GDP increased at an average annual rate of 2.1 percent, the same as previously
published.
* Current-dollar GDP was revised up for all three years: $34.5 billion, or 0.2 percent, for 2014;
$84.1 billion, or 0.5 percent, for 2015; and $55.4 billion, or 0.3 percent, for 2016.
Gross domestic income (GDI) and the statistical discrepancy (Tables 1A and 1B)
* From 2013 to 2016 real GDI increased at an average annual rate of 2.3 percent, unrevised from
the previous estimate. From the fourth quarter of 2013 to the first quarter of 2017, real GDI
increased at an average annual rate of 2.2 percent; in the previously published estimates, real
GDI increased at an average annual rate of 2.1 percent.
* The statistical discrepancy is current-dollar GDP less current-dollar GDI. 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 different source
data and different methods.
* The statistical discrepancy as a percentage of GDP was revised up from -1.5 percent to -1.3
percent for 2014, was unrevised at -1.4 percent for 2015, and was revised up from -1.3 percent
to -0.8 percent for 2016.
* The average of GDP and GDI is a supplemental measure of U.S. economic activity. In real, or
inflation-adjusted, terms this measure increased at an average annual rate of 2.3 percent from
2013 to 2016, the same as previously published.
Price measures (Table 4A)
* Gross domestic purchases - From the fourth quarter of 2013 to the first quarter of 2017, the
average annual rate of increase in the price index for gross domestic purchases was 1.2 percent,
the same as previously published.
* Personal consumption expenditures - From the fourth quarter of 2013 to the first quarter of
2017, the average annual rate of increase in the price index for PCE was 1.2 percent, 0.1
percentage point higher than the previously published estimates. The increase in the �core� PCE
price index, which excludes food and energy, was 1.6 percent, the same as previously published.
Income and saving measures (Table 1B)
* National income was revised down $9.9 billion, or 0.1 percent, for 2014, was revised up $74.3
billion, or 0.5 percent, for 2015, and was revised down $50.0 billion, or 0.3 percent, for 2016.
o For 2014, downward revisions to proprietors� income and corporate profits were partly
offset by upward revisions to taxes on production and imports and rental income of
persons.
o For 2015, upward revisions to net interest, corporate profits, taxes on production and
imports, and supplements to wages and salaries were partly offset by a downward
revision to proprietors� income.
o For 2016, downward revisions to wages and salaries, proprietors� income, supplements
to wages and salaries, and corporate profits were partly offset by upward revisions to
net interest, taxes on production and imports, and the current surplus of government
enterprises.
* Corporate profits was revised down $11.5 billion, or -0.5 percent, for 2014, was revised up $29.4
billion, or 1.4 percent, for 2015, and was revised down $12.4 billion, or 0.6 percent, for 2016.
* Personal income was revised up $8.5 billion, or 0.1 percent, for 2014, was revised up $94.5
billion, or 0.6 percent, for 2015, and was revised down $58.0 billion, or 0.4 percent, for 2016.
* From 2013 to 2016, the average annual rate of growth of real disposable personal income was
revised down 0.2 percentage point from 3.2 percent to 3.0 percent.
* The personal saving rate (personal saving as a percentage of disposable personal income) was
revised up from 5.6 percent to 5.7 percent for 2014, was revised up from 5.8 percent to 6.1
percent for 2015, and was revised down from 5.7 percent to 4.9 percent for 2016.?
New and revised source data
The updated statistics incorporated data from the following major federal statistical sources:
Agency Data Years Covered and Vintage
Census Bureau Annual surveys of wholesale trade 2014 (revised), 2015 (new)
Annual surveys of retail trade 2014 (revised), 2015 (new)
Annual survey of manufactures 2014 (revised), 2015 (new)
Monthly indicators of manufactures,
merchant wholesale trade, and retail trade 2014�2016 (revised)
Service annual survey 2014 and 2015 (revised), 2016 (new)
Annual surveys of state and local
government finances Fiscal year (FY) 2014 (revised), FY 2015 (new)
Monthly survey of construction spending
(value put in place) 2014�2016 (revised)
Quarterly services survey 2014�2016 (revised)
Current population survey/housing vacancy
survey 2014 and 2015 (revised), 2016 (new)
Office of Management
and Budget Federal Budget Fiscal years 2016 and 2017
Internal Revenue Service Tabulations of tax returns for corporations 2014 (revised), 2015 (new)
Tabulations of tax returns for sole
proprietorships and partnerships 2015 (new)
BLS Quarterly census of employment and wages 2014�2016 ( revised)
Survey of occupational employment 2016 (new)
Department of
Agriculture Farm statistics 2014�2016 (revised)
BEA International transactions accounts 2014-2016 (revised)
Changes in methodology and presentation
The annual update also incorporated improvements to estimating methodologies and to the
presentation of the NIPA estimates, including the following:
* Estimates for consumer spending incorporated improved allocations of industry-based retail
sales to consumer goods, including increased use of retail scanner data and the Census Bureau�s
E-Commerce Report.
* The price index used to deflate fixed investment in prepackaged software is now based on a
more representative Bureau of Labor Statistics Producer Price Index (PPI). In the previously
published estimates, the BEA price for prepackaged software was based on the PPI for
�Application software publishing.� Beginning with this annual update, BEA will use the PPI for
�Software publishing, except games� that includes both applications and systems software
publishing.
* Publication of key source data and assumptions that are used to estimate quarterly GDP is
updated and accelerated. Beginning with this annual update, BEA will post this information with
each GDP release. (Previously, BEA released this information after the monthly personal income
and outlays release, usually the business day following the GDP release.) Certain monthly data
will continue to be released with the monthly personal income and outlays release. Because
quarterly key source data and assumptions will now be available on the day of the GDP release,
BEA will no longer publish Technical Note Table A.
* * *
Next release: August 30, 2017 at 8:30 A.M. EDT
Gross Domestic Product: Second Quarter 2017 (Second Estimate)
Corporate Profits: Second Quarter 2017 (Preliminary Estimate)
* * *
Additional Information
Resources
Additional resources available at www.bea.gov:
� Stay informed about BEA developments by reading the BEA blog, signing up for BEA�s email
subscription service, or following BEA on Twitter @BEA_News.
� Historical time series for these estimates can be accessed in BEA�s Interactive Data Application.
� Access BEA data by registering for BEA�s Data Application Programming Interface (API).
� For more on BEA�s statistics, see our monthly online journal, the Survey of Current Business.
� BEA's news release schedule
� NIPA Handbook: Concepts and Methods of the U.S. National Income and Product Accounts
Definitions
Gross domestic product (GDP) is the value of the goods and services produced by the nation�s economy
less the value of the goods and services used up in production. GDP is also equal to the sum of personal
consumption expenditures, gross private domestic investment, net exports of goods and services, and
government consumption expenditures and gross investment.
Gross domestic income (GDI) is the sum of incomes earned and costs incurred in the production of GDP.
In national economic accounting, GDP and GDI are conceptually equal. In practice, GDP and GDI differ
because they are constructed using largely independent source data. Real GDI is calculated by deflating
gross domestic income using the GDP price index as the deflator, and is therefore conceptually
equivalent to real GDP.
Current-dollar estimates are valued in the prices of the period when the transactions occurred�that is,
at �market value.� Also referred to as �nominal estimates� or as �current-price estimates.�
Real values are inflation-adjusted estimates�that is, estimates that exclude the effects of price changes.
The gross domestic purchases price index measures the prices of final goods and services purchased by
U.S. residents.
The personal consumption expenditure price index measures the prices paid for the goods and services
purchased by, or on the behalf of, �persons.�
Personal income is the income received by, or on behalf of, all persons from all sources: from
participation as laborers in production, from owning a home or business, from the ownership of
financial assets, and from government and business in the form of transfers. It includes income from
domestic sources as well as the rest of world. It does not include realized or unrealized capital gains or
losses.
Disposable personal income is the income available to persons for spending or saving. It is equal to
personal income less personal current taxes.
Personal outlays is the sum of personal consumption expenditures, personal interest payments, and
personal current transfer payments.
Personal saving is personal income less personal outlays and personal current taxes.
The personal saving rate is personal saving as a percentage of disposable personal income. (For a
comparison of personal saving in BEA's national income and product accounts (NIPAs) with personal
saving in the Federal Reserve Board's financial accounts of the United States, go to
www.bea.gov/national/nipaweb/nipa-frb.asp.
Profits from current production, referred to as corporate profits with inventory valuation adjustment
(IVA) and capital consumption adjustment (CCAdj) in the NIPAs, is a measure of the net income of
corporations before deducting income taxes that is consistent with the value of goods and services
measured in GDP. The IVA and CCAdj are adjustments that convert inventory withdrawals and
depreciation of fixed assets reported on a tax-return, historical-cost basis to the current-cost economic
measures used in the national income and product accounts.
For more definitions, see the Glossary: National Income and Product Accounts.
Statistical conventions
Annual rates. Quarterly values are expressed at seasonally-adjusted annual rates (SAAR), unless
otherwise specified. Dollar changes are calculated as the difference between these SAAR values. For
detail, see the FAQ �Why does BEA publish estimates at annual rates?�
Percent changes in quarterly series are calculated from unrounded data and are displayed at annual
rates, unless otherwise specified. For details, see the FAQ �How is average annual growth calculated?�
Quantities and prices. Quantities, or �real� volume measures, and prices are expressed as index
numbers with a specified reference year equal to 100 (currently 2009). Quantity and price indexes are
calculated using a Fisher-chained weighted formula that incorporates weights from two adjacent
periods (quarters for quarterly data and annuals for annual data). �Real� dollar series are calculated by
multiplying the published quantity index by the current dollar value in the reference year (2009) and
then dividing by 100. Percent changes calculated from real quantity indexes and chained-dollar levels
are conceptually the same; any differences are due to rounding.
Chained-dollar values are not additive because the relative weights for a given period differ from those
of the reference year. In tables that display chained-dollar values, a �residual� line shows the difference
between the sum of detailed chained-dollar series and its corresponding aggregate.
Updates to GDP
BEA releases three vintages of the current quarterly estimate for GDP: "Advance" estimates are
released near the end of the first month following the end of the quarter and are based on source data
that are incomplete or subject to further revision by the source agency; �second� and �third� estimates
are released near the end of the second and third months, respectively, and are based on more detailed
and more comprehensive data as they become available.
Annual and comprehensive updates are typically released in late July. Annual updates generally cover at
least the 3 most recent calendar years (and their associated quarters) and incorporate newly available
major annual source data as well as some changes in methods and definitions to improve the accounts.
Comprehensive (or benchmark) updates are carried out at about 5-year intervals and incorporate major
periodic source data, as well as major conceptual improvements.
The table below shows the average revisions to the quarterly percent changes in real GDP between
different estimate vintages, without regard to sign.
Vintage Average Revision Without Regard to Sign
(percentage points, annual rates)
Advance to second 0.5
Advance to third 0.6
Second to third 0.2
Advance to latest 1.2
Note - Based on estimates from 1993 through 2014. For more information on GDP updates, see Revision
Information on the BEA Web site.
The larger average revision from the advance to the latest estimate reflects the fact that periodic
comprehensive updates include major statistical and methodological improvements.
Unlike GDP, an advance current quarterly estimate of GDI is not released because data on domestic
profits and on net interest of domestic industries are not available. For fourth quarter estimates, these
data are not available until the third estimate.
List of GDP News Release Tables
Table 1. Real Gross Domestic Product and Related Measures: Percent Change from Preceding
Table 1A. Real Gross Domestic Product and Related Measures: Percent Change from Preceding
Period (includes previously published)
Table 1B. Revisions to Current-Dollar Gross Domestic Product, National Income, and Disposition of
Personal Income
Table 2. Contributions to Percent Change in Real Gross Domestic Product
Table 2A. Contributions to Percent Change in Real Gross Domestic Product (includes previously
published)
Table 3A. Gross Domestic Product and Related Measures
Table 3B. Real Gross Domestic Product and Related Measures
Table 4. Price Indexes for Gross Domestic Product and Related Measures: Percent Change from
Preceding Period
Table 4A. Price Indexes for Gross Domestic Product and Related Measures: Percent Change from
Preceding Period (includes previously published)
Table 5. Real Gross Domestic Product, Quantity Indexes
Table 6. Price Indexes for Gross Domestic Product
Table 7. Real Gross Domestic Product: Percent Change from Preceding Year
Table 8. Real Gross Domestic Product: Percent Change from Quarter One Year Ago
Table 9. Relation of Gross Domestic Product, Gross National Product, and National Income
Table 10. Personal Income and Its Disposition
Table 11A. Corporate Profits
Table 11B. Corporate Profits: Percent Change From Preceding Period
Table 12A. Corporate Profits by Industry
Table 12B. Corporate Profits by Industry: Change From Preceding Period
Table 12C. Revisions to Corporate Profits by Industry
Table 13. Gross Value Added of Nonfinancial Domestic Corporate Business
Appendix Table A. Real Gross Domestic Product and Related Aggregates and Price Indexes: Percent
Change From Preceding Period and Contributions to Percent Change
Table 1. Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 -----------------------------------------Seasonally adjusted at annual rates-----------------------------------------
2013 -------------2014------------- -------------2015------------- -------------2016------------- -----2017-----
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product (GDP)..... 1.7 2.6 2.9 1.5 4.0 -0.9 4.6 5.2 2.0 3.2 2.7 1.6 0.5 0.6 2.2 2.8 1.8 1.2 2.6
Personal consumption expenditures...... 1.5 2.9 3.6 2.7 3.4 1.9 3.5 3.9 5.1 3.7 3.0 2.8 2.7 1.8 3.8 2.8 2.9 1.9 2.8
Goods................................ 3.1 3.9 4.6 3.7 4.0 2.4 6.2 4.5 5.7 4.2 4.5 4.4 2.8 2.1 6.0 3.2 4.7 0.7 4.7
Durable goods...................... 6.2 6.9 7.7 5.5 4.9 5.5 13.2 7.7 8.3 7.8 8.6 5.0 4.2 1.0 8.5 9.4 9.2 -0.1 6.3
Nondurable goods................... 1.7 2.5 3.1 2.8 3.6 0.9 3.0 3.0 4.5 2.4 2.5 4.0 2.2 2.6 4.7 0.1 2.5 1.1 3.8
Services............................. 0.6 2.4 3.2 2.3 3.1 1.7 2.1 3.6 4.7 3.4 2.3 2.0 2.6 1.7 2.8 2.7 2.1 2.5 1.9
Gross private domestic investment...... 6.1 5.5 5.2 -1.6 5.4 -5.7 15.6 11.5 -1.3 13.1 0.8 2.0 -6.2 -4.0 -2.7 2.4 8.5 -1.2 2.0
Fixed investment..................... 5.0 6.2 3.9 0.7 6.6 5.1 10.2 9.2 0.3 4.1 4.7 3.4 -2.4 -0.2 1.4 1.5 1.7 8.1 2.2
Nonresidential..................... 3.5 6.9 2.3 -0.6 9.5 7.2 9.4 10.5 -2.3 2.2 2.9 1.5 -5.1 -4.0 3.3 3.4 0.2 7.2 5.2
Structures....................... 1.4 10.5 -1.8 -4.1 2.1 21.4 12.2 -1.8 4.7 -2.1 4.6 -15.2 -21.4 2.3 0.5 14.3 -2.2 14.8 4.9
Equipment........................ 4.6 6.6 3.5 -3.4 19.5 0.8 10.9 19.2 -11.8 8.2 0.8 10.0 -4.6 -13.1 -0.6 -2.1 1.8 4.4 8.2
Intellectual property products... 3.4 4.6 3.8 6.3 1.1 7.0 5.1 7.7 8.2 -2.9 4.9 2.9 8.0 6.3 11.1 4.2 -0.4 5.7 1.4
Residential........................ 11.9 3.5 10.2 5.5 -4.5 -2.8 13.2 4.5 10.9 11.4 11.7 10.6 7.3 13.4 -4.7 -4.5 7.1 11.1 -6.8
Change in private inventories........ --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Net exports of goods and services...... --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Exports.............................. 3.5 4.3 0.4 -0.3 11.8 -2.4 9.2 0.6 4.9 -4.5 3.7 -4.0 -2.3 -2.6 2.8 6.4 -3.8 7.3 4.1
Goods.............................. 3.1 4.6 -0.4 0.3 15.7 -6.0 10.7 2.2 4.6 -8.6 5.4 -4.9 -3.8 0.3 2.8 8.1 -3.4 10.8 2.8
Services........................... 4.4 3.6 2.1 -1.5 3.7 5.9 5.9 -2.7 5.8 4.6 0.5 -2.1 0.7 -7.8 2.7 3.2 -4.6 1.0 6.5
Imports.............................. 1.1 4.5 5.0 1.3 1.6 5.0 10.2 -1.0 10.8 6.7 3.3 1.7 0.0 -0.2 0.4 2.7 8.1 4.3 2.1
Goods.............................. 1.2 4.9 5.2 0.9 1.6 5.8 11.0 -1.1 11.3 7.9 3.1 0.7 -0.4 -0.5 0.3 1.2 9.2 4.7 2.0
Services........................... 0.6 2.6 4.0 3.1 1.3 1.2 6.5 -0.5 8.6 1.4 4.4 6.5 1.6 1.1 1.0 9.0 3.2 2.5 2.4
Government consumption expenditures
and gross investment.................. -2.9 -0.6 1.4 0.8 -2.8 -0.6 1.1 2.1 -0.6 1.5 3.4 1.2 0.3 1.8 -0.9 0.5 0.2 -0.6 0.7
Federal.............................. -5.8 -2.4 -0.1 0.0 -5.7 -0.3 -1.6 3.1 -5.6 1.5 1.8 -1.1 2.5 -1.5 -0.9 1.6 -0.5 -2.4 2.3
National defense................... -6.8 -4.0 -2.2 -0.7 -4.2 -5.4 -1.6 2.4 -10.9 -1.0 2.1 -4.5 3.6 -2.7 -2.1 2.5 -3.2 -3.3 5.2
Nondefense......................... -4.1 0.2 3.2 1.2 -8.1 8.4 -1.5 4.1 3.3 5.5 1.3 4.2 0.9 0.2 0.8 0.3 3.6 -1.2 -1.9
State and local...................... -0.8 0.5 2.3 1.2 -1.0 -0.8 2.8 1.5 2.6 1.5 4.5 2.6 -1.1 3.9 -1.0 -0.2 0.6 0.5 -0.2
Addenda:
Gross domestic income (GDI)\1\....... 1.2 3.1 3.0 0.9 2.5 1.6 5.7 4.8 4.8 1.9 2.5 0.6 1.5 -0.3 0.2 4.1 -1.7 2.6 ---
Average of GDP and GDI............... 1.5 2.8 2.9 1.2 3.2 0.3 5.2 5.0 3.4 2.6 2.6 1.1 1.0 0.1 1.2 3.4 0.0 1.9 ---
Final sales of domestic product...... 1.5 2.7 2.6 1.9 4.1 0.9 3.7 4.8 2.3 1.8 3.4 1.9 1.2 1.2 2.9 2.6 0.7 2.7 2.6
Gross domestic purchases............. 1.3 2.7 3.5 1.7 2.6 0.2 4.9 4.8 3.0 4.8 2.7 2.4 0.7 0.8 1.9 2.4 3.3 1.0 2.3
Final sales to domestic purchasers... 1.2 2.7 3.3 2.1 2.7 2.0 4.1 4.4 3.3 3.4 3.4 2.6 1.4 1.5 2.6 2.2 2.3 2.4 2.4
Final sales to private domestic
purchasers.......................... 2.1 3.5 3.7 2.3 4.0 2.5 4.7 4.9 4.1 3.7 3.3 2.9 1.7 1.4 3.3 2.6 2.7 3.1 2.7
Gross national product (GNP)......... 1.7 2.5 2.7 1.4 3.9 -1.2 4.3 5.5 1.4 3.2 2.1 1.6 1.0 -0.3 2.6 2.6 2.6 0.9 ---
Disposable personal income........... -1.4 3.6 4.2 1.4 0.9 4.3 5.3 4.2 5.9 4.3 3.8 1.8 2.9 0.2 1.9 0.7 -1.8 2.8 3.2
Current-dollar measures:
GDP................................ 3.3 4.4 4.0 2.8 6.1 0.7 7.0 7.1 2.6 3.2 5.0 3.0 1.3 0.8 4.7 4.2 3.8 3.3 3.6
GDI................................ 2.9 4.9 4.1 2.1 4.7 3.3 8.1 6.8 5.4 1.9 4.7 2.0 2.4 -0.1 2.6 5.5 0.3 4.7 ---
Average of GDP and GDI............. 3.1 4.7 4.0 2.5 5.4 2.0 7.6 7.0 4.0 2.5 4.8 2.5 1.8 0.4 3.7 4.9 2.1 4.0 ---
Final sales of domestic product.... 3.1 4.5 3.8 3.2 6.4 2.5 6.0 6.8 2.9 1.8 5.7 3.3 2.0 1.6 5.4 4.1 2.7 4.8 3.6
Gross domestic purchases........... 2.8 4.4 3.9 2.7 4.7 2.5 6.7 6.4 3.2 3.5 4.1 3.4 1.0 0.9 4.1 3.9 5.3 3.6 3.2
Final sales to domestic
purchasers........................ 2.6 4.5 3.8 3.1 5.0 4.2 5.8 6.0 3.5 2.1 4.9 3.7 1.7 1.7 4.7 3.8 4.1 5.0 3.2
Final sales to private domestic
purchasers........................ 3.5 5.2 4.2 3.5 5.9 4.9 6.5 6.5 4.3 2.6 4.7 4.1 1.8 1.9 5.4 4.3 4.7 5.2 3.4
GNP................................ 3.3 4.3 3.8 2.7 6.1 0.4 6.6 7.4 2.0 3.0 4.4 3.0 1.9 -0.1 5.1 4.0 4.7 2.9 ---
Disposable personal income......... -0.1 5.1 4.5 2.6 2.6 6.5 7.1 5.5 5.7 2.6 5.6 3.2 3.1 0.9 4.0 2.5 0.1 5.1 3.5
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
See 'Explanatory Note' at the end of the tables.
Source: U.S. Bureau of Economic Analysis
Table 1A. Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 -------------------------------------Seasonally adjusted at annual rates-------------------------------------
2013 -------------2014------------- -------------2015------------- -------------2016------------- 2017
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product (GDP)..... 1.7 2.6 2.9 1.5 4.0 -0.9 4.6 5.2 2.0 3.2 2.7 1.6 0.5 0.6 2.2 2.8 1.8 1.2
Previously published........... 1.7 2.4 2.6 1.6 4.0 -1.2 4.0 5.0 2.3 2.0 2.6 2.0 0.9 0.8 1.4 3.5 2.1 1.4
Personal consumption expenditures...... 1.5 2.9 3.6 2.7 3.4 1.9 3.5 3.9 5.1 3.7 3.0 2.8 2.7 1.8 3.8 2.8 2.9 1.9
Previously published................. 1.5 2.9 3.2 2.7 3.4 1.9 3.8 3.7 4.6 2.4 2.9 2.7 2.3 1.6 4.3 3.0 3.5 1.1
Goods................................ 3.1 3.9 4.6 3.7 4.0 2.4 6.2 4.5 5.7 4.2 4.5 4.4 2.8 2.1 6.0 3.2 4.7 0.7
Previously published............... 3.1 3.9 4.0 3.6 4.0 2.4 6.7 4.3 5.1 2.7 4.3 4.2 2.1 1.2 7.1 3.5 6.0 0.5
Durable goods...................... 6.2 6.9 7.7 5.5 4.9 5.5 13.2 7.7 8.3 7.8 8.6 5.0 4.2 1.0 8.5 9.4 9.2 -0.1
Previously published............. 6.2 6.7 6.9 5.8 4.9 4.6 13.0 8.7 8.5 4.1 7.6 6.2 4.0 -0.6 9.8 11.6 11.4 -1.6
Nondurable goods................... 1.7 2.5 3.1 2.8 3.6 0.9 3.0 3.0 4.5 2.4 2.5 4.0 2.2 2.6 4.7 0.1 2.5 1.1
Previously published............. 1.7 2.6 2.6 2.5 3.6 1.4 3.8 2.3 3.5 1.9 2.7 3.2 1.2 2.1 5.7 -0.5 3.3 1.6
Services............................. 0.6 2.4 3.2 2.3 3.1 1.7 2.1 3.6 4.7 3.4 2.3 2.0 2.6 1.7 2.8 2.7 2.1 2.5
Previously published............... 0.6 2.3 2.8 2.3 3.1 1.7 2.3 3.4 4.3 2.3 2.2 2.0 2.3 1.9 3.0 2.7 2.4 1.4
Gross private domestic investment...... 6.1 5.5 5.2 -1.6 5.4 -5.7 15.6 11.5 -1.3 13.1 0.8 2.0 -6.2 -4.0 -2.7 2.4 8.5 -1.2
Previously published................. 6.1 4.5 5.0 -1.6 5.4 -6.6 11.2 8.9 2.6 9.9 1.0 2.0 -2.3 -3.3 -7.9 3.0 9.4 3.7
Fixed investment..................... 5.0 6.2 3.9 0.7 6.6 5.1 10.2 9.2 0.3 4.1 4.7 3.4 -2.4 -0.2 1.4 1.5 1.7 8.1
Previously published............... 5.0 5.5 4.0 0.7 6.6 5.3 7.2 7.4 1.3 3.7 4.3 5.7 -0.2 -0.9 -1.1 0.1 2.9 11.0
Nonresidential..................... 3.5 6.9 2.3 -0.6 9.5 7.2 9.4 10.5 -2.3 2.2 2.9 1.5 -5.1 -4.0 3.3 3.4 0.2 7.2
Previously published............. 3.5 6.0 2.1 -0.5 9.5 7.0 6.1 8.3 -1.1 1.3 1.6 3.9 -3.3 -3.4 1.0 1.4 0.9 10.4
Structures....................... 1.4 10.5 -1.8 -4.1 2.1 21.4 12.2 -1.8 4.7 -2.1 4.6 -15.2 -21.4 2.3 0.5 14.3 -2.2 14.8
Previously published........... 1.4 10.3 -4.4 -2.9 2.1 25.1 7.4 -2.7 4.1 -12.3 -2.7 -4.3 -15.2 0.1 -2.1 12.0 -1.9 22.6
Equipment........................ 4.6 6.6 3.5 -3.4 19.5 0.8 10.9 19.2 -11.8 8.2 0.8 10.0 -4.6 -13.1 -0.6 -2.1 1.8 4.4
Previously published........... 4.6 5.4 3.5 -2.9 19.5 0.3 6.5 15.2 -8.9 9.3 -0.3 9.1 -2.6 -9.5 -2.9 -4.5 1.9 7.8
Intellectual property products... 3.4 4.6 3.8 6.3 1.1 7.0 5.1 7.7 8.2 -2.9 4.9 2.9 8.0 6.3 11.1 4.2 -0.4 5.7
Previously published........... 3.4 3.9 4.8 4.7 1.1 4.9 4.5 7.1 7.8 0.8 8.0 2.1 4.6 3.7 9.0 3.2 1.3 6.4
Residential........................ 11.9 3.5 10.2 5.5 -4.5 -2.8 13.2 4.5 10.9 11.4 11.7 10.6 7.3 13.4 -4.7 -4.5 7.1 11.1
Previously published............. 11.9 3.5 11.7 4.9 -4.5 -1.4 11.7 3.6 11.4 13.3 14.9 12.6 11.5 7.8 -7.7 -4.1 9.6 13.0
Change in private inventories........ --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Net exports of goods and services...... --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Exports.............................. 3.5 4.3 0.4 -0.3 11.8 -2.4 9.2 0.6 4.9 -4.5 3.7 -4.0 -2.3 -2.6 2.8 6.4 -3.8 7.3
Previously published............... 3.5 4.3 0.1 0.4 11.8 -2.7 8.7 2.1 4.5 -5.8 2.9 -2.8 -2.7 -0.7 1.8 10.0 -4.5 7.0
Goods.............................. 3.1 4.6 -0.4 0.3 15.7 -6.0 10.7 2.2 4.6 -8.6 5.4 -4.9 -3.8 0.3 2.8 8.1 -3.4 10.8
Previously published............. 3.1 4.4 -0.6 0.6 15.7 -7.3 10.7 4.4 3.8 -10.1 4.6 -3.1 -4.6 0.1 1.7 14.4 -6.7 10.5
Services........................... 4.4 3.6 2.1 -1.5 3.7 5.9 5.9 -2.7 5.8 4.6 0.5 -2.1 0.7 -7.8 2.7 3.2 -4.6 1.0
Previously published............. 4.4 3.9 1.6 -0.1 3.7 7.9 4.7 -2.8 6.0 3.8 -0.4 -2.3 1.0 -2.2 1.9 2.0 -0.1 0.7
Imports.............................. 1.1 4.5 5.0 1.3 1.6 5.0 10.2 -1.0 10.8 6.7 3.3 1.7 0.0 -0.2 0.4 2.7 8.1 4.3
Previously published............... 1.1 4.4 4.6 1.2 1.6 4.9 9.9 -1.2 11.2 5.6 2.9 1.1 0.7 -0.6 0.2 2.2 9.0 4.0
Goods.............................. 1.2 4.9 5.2 0.9 1.6 5.8 11.0 -1.1 11.3 7.9 3.1 0.7 -0.4 -0.5 0.3 1.2 9.2 4.7
Previously published............. 1.2 4.8 4.9 0.7 1.6 5.7 10.7 -1.4 11.7 6.8 3.4 -0.1 0.7 -1.3 0.0 0.5 10.9 4.4
Services........................... 0.6 2.6 4.0 3.1 1.3 1.2 6.5 -0.5 8.6 1.4 4.4 6.5 1.6 1.1 1.0 9.0 3.2 2.5
Previously published............. 0.6 2.6 2.9 3.1 1.3 1.2 6.3 0.1 8.8 -0.2 0.2 6.9 0.7 2.5 1.1 9.8 0.7 2.4
Government consumption expenditures
and gross investment.................. -2.9 -0.6 1.4 0.8 -2.8 -0.6 1.1 2.1 -0.6 1.5 3.4 1.2 0.3 1.8 -0.9 0.5 0.2 -0.6
Previously published................. -2.9 -0.9 1.8 0.8 -2.8 -1.0 0.1 2.5 -0.4 2.6 3.2 1.9 1.0 1.6 -1.7 0.8 0.2 -0.9
Federal.............................. -5.8 -2.4 -0.1 0.0 -5.7 -0.3 -1.6 3.1 -5.6 1.5 1.8 -1.1 2.5 -1.5 -0.9 1.6 -0.5 -2.4
Previously published............... -5.8 -2.5 0.0 0.6 -5.7 -0.2 -2.8 3.9 -6.0 1.9 0.2 1.0 3.8 -1.5 -0.4 2.4 -1.2 -2.0
National defense................... -6.8 -4.0 -2.2 -0.7 -4.2 -5.4 -1.6 2.4 -10.9 -1.0 2.1 -4.5 3.6 -2.7 -2.1 2.5 -3.2 -3.3
Previously published............. -6.8 -4.1 -2.1 -0.7 -4.2 -5.0 -3.2 4.0 -11.6 -0.4 -0.5 -1.2 4.4 -3.2 -3.2 2.0 -3.6 -3.9
Nondefense......................... -4.1 0.2 3.2 1.2 -8.1 8.4 -1.5 4.1 3.3 5.5 1.3 4.2 0.9 0.2 0.8 0.3 3.6 -1.2
Previously published............. -4.1 0.1 3.3 2.6 -8.1 8.3 -2.0 3.9 3.5 5.4 1.1 4.2 2.8 0.9 3.8 3.0 2.3 0.7
State and local...................... -0.8 0.5 2.3 1.2 -1.0 -0.8 2.8 1.5 2.6 1.5 4.5 2.6 -1.1 3.9 -1.0 -0.2 0.6 0.5
Previously published............... -0.8 0.2 2.9 0.9 -1.0 -1.5 2.0 1.6 3.3 3.0 5.1 2.5 -0.6 3.5 -2.5 -0.2 1.0 -0.2
Addenda:
Gross domestic income (GDI)\1\....... 1.2 3.1 3.0 0.9 2.5 1.6 5.7 4.8 4.8 1.9 2.5 0.6 1.5 -0.3 0.2 4.1 -1.7 2.6
Previously published............... 1.2 3.0 2.5 1.5 2.5 2.1 5.4 4.5 4.0 1.6 0.6 2.5 1.5 0.8 0.7 5.0 -1.4 1.0
Average of GDP and GDI............... 1.5 2.8 2.9 1.2 3.2 0.3 5.2 5.0 3.4 2.6 2.6 1.1 1.0 0.1 1.2 3.4 0.0 1.9
Previously published............... 1.5 2.7 2.6 1.5 3.2 0.4 4.7 4.7 3.1 1.8 1.6 2.2 1.2 0.8 1.1 4.3 0.3 1.2
Final sales of domestic product...... 1.5 2.7 2.6 1.9 4.1 0.9 3.7 4.8 2.3 1.8 3.4 1.9 1.2 1.2 2.9 2.6 0.7 2.7
Previously published............... 1.5 2.5 2.4 2.0 4.1 0.8 3.3 4.7 2.1 1.0 3.2 2.6 1.2 1.2 2.6 3.0 1.1 2.6
Gross domestic purchases............. 1.3 2.7 3.5 1.7 2.6 0.2 4.9 4.8 3.0 4.8 2.7 2.4 0.7 0.8 1.9 2.4 3.3 1.0
Previously published............... 1.3 2.4 3.2 1.7 2.6 0.0 4.3 4.3 3.4 3.6 2.6 2.4 1.3 0.8 1.2 2.6 3.9 1.2
Final sales to domestic purchasers... 1.2 2.7 3.3 2.1 2.7 2.0 4.1 4.4 3.3 3.4 3.4 2.6 1.4 1.5 2.6 2.2 2.3 2.4
Previously published............... 1.2 2.6 3.1 2.1 2.7 1.9 3.7 4.1 3.2 2.7 3.2 3.0 1.7 1.2 2.4 2.1 2.8 2.3
Final sales to private domestic
purchasers.......................... 2.1 3.5 3.7 2.3 4.0 2.5 4.7 4.9 4.1 3.7 3.3 2.9 1.7 1.4 3.3 2.6 2.7 3.1
Previously published............... 2.1 3.4 3.3 2.3 4.0 2.5 4.4 4.4 4.0 2.7 3.2 3.3 1.8 1.1 3.2 2.4 3.4 2.9
Gross national product (GNP)......... 1.7 2.5 2.7 1.4 3.9 -1.2 4.3 5.5 1.4 3.2 2.1 1.6 1.0 -0.3 2.6 2.6 2.6 0.9
Previously published............... 1.7 2.3 2.3 1.6 3.9 -1.2 3.7 5.3 1.7 1.6 2.3 1.7 1.3 0.0 2.2 3.4 2.9 1.1
Disposable personal income........... -1.4 3.6 4.2 1.4 0.9 4.3 5.3 4.2 5.9 4.3 3.8 1.8 2.9 0.2 1.9 0.7 -1.8 2.8
Previously published............... -1.4 3.5 3.5 2.6 0.9 4.5 5.3 4.1 4.3 2.0 3.9 3.3 3.0 2.1 2.9 2.9 -0.3 1.7
Current-dollar measures:
GDP................................ 3.3 4.4 4.0 2.8 6.1 0.7 7.0 7.1 2.6 3.2 5.0 3.0 1.3 0.8 4.7 4.2 3.8 3.3
Previously published............. 3.3 4.2 3.7 3.0 6.1 0.6 6.3 6.7 2.8 2.1 4.9 3.2 1.8 1.3 3.7 5.0 4.2 3.4
GDI................................ 2.9 4.9 4.1 2.1 4.7 3.3 8.1 6.8 5.4 1.9 4.7 2.0 2.4 -0.1 2.6 5.5 0.3 4.7
Previously published............. 2.9 4.9 3.6 2.8 4.7 3.9 7.7 6.3 4.5 1.6 2.8 3.7 2.4 1.3 3.0 6.5 0.7 3.0
Average of GDP and GDI............. 3.1 4.7 4.0 2.5 5.4 2.0 7.6 7.0 4.0 2.5 4.8 2.5 1.8 0.4 3.7 4.9 2.1 4.0
Previously published............. 3.1 4.5 3.7 2.9 5.4 2.2 7.0 6.5 3.7 1.8 3.9 3.5 2.1 1.3 3.4 5.7 2.4 3.2
Final sales of domestic product.... 3.1 4.5 3.8 3.2 6.4 2.5 6.0 6.8 2.9 1.8 5.7 3.3 2.0 1.6 5.4 4.1 2.7 4.8
Previously published............. 3.1 4.4 3.6 3.4 6.4 2.5 5.5 6.5 2.6 1.1 5.5 3.9 2.1 1.8 5.0 4.5 3.2 4.5
Gross domestic purchases........... 2.8 4.4 3.9 2.7 4.7 2.5 6.7 6.4 3.2 3.5 4.1 3.4 1.0 0.9 4.1 3.9 5.3 3.6
Previously published............. 2.8 4.2 3.7 2.8 4.7 2.1 6.2 5.8 3.7 2.2 4.2 3.5 1.7 1.0 3.3 4.1 6.0 3.7
Final sales to domestic
purchasers........................ 2.6 4.5 3.8 3.1 5.0 4.2 5.8 6.0 3.5 2.1 4.9 3.7 1.7 1.7 4.7 3.8 4.1 5.0
Previously published............. 2.6 4.4 3.5 3.2 5.0 4.1 5.6 5.6 3.5 1.3 4.8 4.1 2.0 1.4 4.6 3.7 4.9 4.8
Final sales to private domestic
purchasers........................ 3.5 5.2 4.2 3.5 5.9 4.9 6.5 6.5 4.3 2.6 4.7 4.1 1.8 1.9 5.4 4.3 4.7 5.2
Previously published............. 3.5 5.1 3.8 3.4 5.9 4.8 6.3 5.8 4.3 1.4 4.6 4.5 2.2 1.5 5.3 3.9 5.5 5.1
GNP................................ 3.3 4.3 3.8 2.7 6.1 0.4 6.6 7.4 2.0 3.0 4.4 3.0 1.9 -0.1 5.1 4.0 4.7 2.9
Previously published............. 3.3 4.2 3.4 2.9 6.1 0.5 5.9 7.1 2.2 1.6 4.5 2.9 2.2 0.4 4.5 4.8 5.0 3.0
Disposable personal income......... -0.1 5.1 4.5 2.6 2.6 6.5 7.1 5.5 5.7 2.6 5.6 3.2 3.1 0.9 4.0 2.5 0.1 5.1
Previously published............. -0.1 5.1 3.8 3.7 2.6 6.6 7.3 5.2 4.3 0.3 5.8 4.4 3.4 2.4 5.0 4.4 1.7 4.1
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
See 'Explanatory Note' at the end of the tables.
Source: U.S. Bureau of Economic Analysis
Table 1B. Revisions to Current-Dollar Gross Domestic Product, National Income, and Disposition of Personal Income
--------------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------Billions of dollars---------------------------- ----Revisions as a percentage of----
----------Revised estimates---------- --Revisions to previously published-- -------- previously published--------
2014 2015 2016 2014 2015 2016 2014 2015 2016
--------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product (GDP)........ 17,427.6 18,120.7 18,624.5 34.5 84.1 55.4 0.2 0.5 0.3
Personal consumption expenditures....... 11,863.7 12,332.3 12,820.7 0.3 48.6 62.8 0.0 0.4 0.5
Goods................................. 3,970.5 4,033.2 4,121.4 0.0 21.0 23.1 0.0 0.5 0.6
Durable goods....................... 1,296.4 1,367.1 1,411.0 1.6 11.9 8.1 0.1 0.9 0.6
Nondurable goods.................... 2,674.1 2,666.0 2,710.4 -1.6 9.1 14.9 -0.1 0.3 0.6
Services.............................. 7,893.2 8,299.1 8,699.3 0.3 27.5 39.7 0.0 0.3 0.5
Gross private domestic investment....... 2,916.4 3,093.6 3,057.2 29.9 37.0 21.5 1.0 1.2 0.7
Fixed investment...................... 2,838.4 2,981.6 3,022.1 17.4 18.4 7.3 0.6 0.6 0.2
Nonresidential...................... 2,268.3 2,336.2 2,316.3 17.3 24.9 7.5 0.8 1.1 0.3
Structures........................ 537.5 537.5 516.2 6.8 30.2 22.4 1.3 6.0 4.5
Equipment......................... 1,046.5 1,081.9 1,043.9 5.7 -4.2 -13.0 0.6 -0.4 -1.2
Intellectual property products.... 684.3 716.8 756.2 4.7 -1.1 -1.8 0.7 -0.2 -0.2
Residential......................... 570.2 645.4 705.9 0.1 -6.5 -0.2 0.0 -1.0 0.0
Change in private inventories......... 78.0 111.9 35.1 12.5 18.5 14.2 --- --- ---
Net exports of goods and services....... -509.5 -524.0 -521.2 -0.7 -2.1 -20.0 --- --- ---
Exports............................... 2,373.6 2,264.9 2,214.6 -1.6 0.6 -17.9 -0.1 0.0 -0.8
Goods............................... 1,617.9 1,497.2 1,446.0 -0.2 -1.2 -8.8 0.0 -0.1 -0.6
Services............................ 755.7 767.7 768.5 -1.4 1.8 -9.0 -0.2 0.2 -1.2
Imports............................... 2,883.2 2,789.0 2,735.8 -0.9 2.7 2.1 0.0 0.1 0.1
Goods............................... 2,396.1 2,290.5 2,224.2 -0.4 -0.6 -1.4 0.0 0.0 -0.1
Services............................ 487.1 498.5 511.6 -0.5 3.2 3.5 -0.1 0.7 0.7
Government consumption expenditures and
gross investment....................... 3,157.0 3,218.9 3,267.8 5.0 0.6 -8.9 0.2 0.0 -0.3
Federal............................... 1,218.1 1,224.0 1,231.5 -0.7 -1.0 -13.0 -0.1 -0.1 -1.0
National defense.................... 745.6 731.6 728.9 -0.4 -0.4 -3.2 -0.1 -0.1 -0.4
Nondefense.......................... 472.5 492.4 502.6 -0.4 -0.6 -9.7 -0.1 -0.1 -1.9
State and local....................... 1,938.9 1,994.9 2,036.3 5.7 1.6 4.1 0.3 0.1 0.2
Relation of GDP and national income
Gross domestic product.................. 17,427.6 18,120.7 18,624.5 34.5 84.1 55.4 0.2 0.5 0.3
Plus: Income receipts from the rest of
the world.............................. 847.2 812.9 844.3 -4.9 -0.2 1.6 -0.6 0.0 0.2
Less: Income payments to the rest of
the world.............................. 612.6 608.4 647.2 8.6 1.0 11.4 1.4 0.2 1.8
Equals: Gross national product.......... 17,662.1 18,325.2 18,821.6 20.9 82.9 45.6 0.1 0.5 0.2
Less: Consumption of fixed capital...... 2,748.0 2,841.5 2,916.7 2.8 10.8 6.3 0.1 0.4 0.2
Less: Statistical discrepancy........... -229.9 -255.9 -147.2 28.0 -2.2 89.3 --- --- ---
Equals: National income................. 15,144.0 15,739.6 16,052.0 -9.9 74.3 -50.0 -0.1 0.5 -0.3
Compensation of employees............. 9,256.5 9,708.3 9,978.6 3.0 15.2 -94.3 0.0 0.2 -0.9
Wages and salaries.................. 7,476.8 7,858.9 8,085.2 0.5 4.0 -77.4 0.0 0.1 -0.9
Supplements to wages and salaries... 1,779.7 1,849.4 1,893.4 2.6 11.1 -16.9 0.1 0.6 -0.9
Proprietors' income with inventory
valuation and capital consumption
adjustments.......................... 1,315.8 1,318.8 1,341.9 -21.9 -58.0 -75.5 -1.6 -4.2 -5.3
Rental income of persons with capital
consumption adjustment............... 611.7 662.5 707.3 5.6 2.9 2.6 0.9 0.4 0.4
Corporate profits with inventory
valuation and capital consumption
adjustments.......................... 2,140.6 2,117.5 2,073.5 -11.5 29.4 -12.4 -0.5 1.4 -0.6
Net interest and miscellaneous
payments............................. 535.0 583.4 570.6 1.3 59.3 85.3 0.2 11.3 17.6
Taxes on production and imports less
subsidies............................ 1,163.6 1,198.5 1,226.2 10.0 17.5 29.2 0.9 1.5 2.4
Business current transfer payments
(net)................................ 138.9 165.0 164.0 1.3 3.6 2.8 0.9 2.2 1.7
Current surplus of government
enterprises.......................... -17.9 -14.3 -10.1 2.3 4.5 12.3 --- --- ---
Disposition of personal income
Personal income......................... 14,818.2 15,553.0 15,928.7 8.5 94.5 -58.0 0.1 0.6 -0.4
Compensation of employees............. 9,256.5 9,708.3 9,978.6 3.0 15.2 -94.3 0.0 0.2 -0.9
Wages and salaries.................. 7,476.8 7,858.9 8,085.2 0.5 4.0 -77.4 0.0 0.1 -0.9
Supplements to wages and salaries... 1,779.7 1,849.4 1,893.4 2.6 11.1 -16.9 0.1 0.6 -0.9
Proprietors' income with inventory
valuation and capital consumption
adjustments.......................... 1,315.8 1,318.8 1,341.9 -21.9 -58.0 -75.5 -1.6 -4.2 -5.3
Farm................................ 68.1 53.7 43.2 -0.4 13.7 15.4 -0.5 34.4 55.6
Nonfarm............................. 1,247.7 1,265.1 1,298.7 -21.6 -71.7 -91.0 -1.7 -5.4 -6.5
Rental income of persons with capital
consumption adjustment............... 611.7 662.5 707.3 5.6 2.9 2.6 0.9 0.4 0.4
Personal income receipts on assets.... 2,245.1 2,387.1 2,377.8 18.2 133.2 114.9 0.8 5.9 5.1
Personal interest income............ 1,303.3 1,367.3 1,415.3 2.4 64.5 100.8 0.2 5.0 7.7
Personal dividend income............ 941.9 1,019.8 962.5 15.8 68.7 14.0 1.7 7.2 1.5
Personal current transfer receipts.... 2,544.4 2,684.4 2,768.4 4.0 5.7 -7.1 0.2 0.2 -0.3
Less: Contributions for government
social insurance, domestic........... 1,155.3 1,208.0 1,245.3 0.4 4.6 -1.5 0.0 0.4 -0.1
Less: Personal current taxes............ 1,785.6 1,937.9 1,960.1 -1.4 -0.8 -0.7 -0.1 0.0 0.0
Equals: Disposable personal income...... 13,032.6 13,615.0 13,968.6 9.9 95.2 -57.2 0.1 0.7 -0.4
Less: Personal outlays.................. 12,293.8 12,786.7 13,288.0 -2.9 50.5 60.9 0.0 0.4 0.5
Equals: Personal saving................. 738.8 828.4 680.6 12.8 44.8 -118.1 --- --- ---
Personal saving as a percentage of
disposable personal income........... 5.7 6.1 4.9 0.1 0.3 -0.8 --- --- ---
Addenda:
Gross domestic income (GDI)............. 17,657.5 18,376.6 18,771.6 6.5 86.3 -34.0 0.0 0.5 -0.2
Average of GDP and GDI.................. 17,542.6 18,248.7 18,698.1 20.5 85.2 10.7 0.1 0.5 0.1
Statistical discrepancy as a percentage
of GDP................................. -1.3 -1.4 -0.8 0.2 0.0 0.5 --- --- ---
--------------------------------------------------------------------------------------------------------------------------------------------------------------
Source: U.S. Bureau of Economic Analysis
Table 2. Contributions to Percent Change in Real Gross Domestic Product
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 -----------------------------------------Seasonally adjusted at annual rates-----------------------------------------
2013 -------------2014------------- -------------2015------------- -------------2016------------- -----2017-----
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Percent change at annual rate:
Gross domestic product.............. 1.7 2.6 2.9 1.5 4.0 -0.9 4.6 5.2 2.0 3.2 2.7 1.6 0.5 0.6 2.2 2.8 1.8 1.2 2.6
Percentage points at annual rates:
Personal consumption expenditures....... 1.00 1.95 2.47 1.86 2.29 1.27 2.33 2.65 3.36 2.48 2.03 1.86 1.80 1.23 2.57 1.92 1.99 1.32 1.93
Goods................................. 0.71 0.88 1.03 0.81 0.90 0.52 1.38 1.01 1.26 0.93 0.99 0.95 0.63 0.46 1.30 0.69 1.03 0.15 1.02
Durable goods....................... 0.45 0.50 0.57 0.41 0.36 0.39 0.93 0.56 0.60 0.57 0.63 0.37 0.31 0.08 0.62 0.68 0.67 -0.01 0.47
Motor vehicles and parts.......... 0.11 0.15 0.17 0.08 0.10 0.19 0.35 0.14 0.16 0.23 0.29 -0.01 -0.11 -0.09 0.18 0.36 0.32 -0.26 -0.04
Furnishings and durable household
equipment........................ 0.10 0.14 0.14 0.12 0.08 0.06 0.28 0.13 0.14 0.11 0.13 0.15 0.14 0.09 0.15 0.10 0.09 0.08 0.14
Recreational goods and vehicles... 0.19 0.15 0.18 0.18 0.07 0.09 0.22 0.25 0.20 0.14 0.13 0.17 0.23 0.11 0.25 0.16 0.22 0.21 0.26
Other durable goods............... 0.05 0.06 0.08 0.03 0.10 0.05 0.08 0.04 0.09 0.10 0.07 0.06 0.06 -0.03 0.04 0.06 0.04 -0.03 0.11
Nondurable goods.................... 0.27 0.38 0.47 0.40 0.54 0.13 0.45 0.45 0.67 0.36 0.36 0.58 0.32 0.38 0.68 0.01 0.35 0.16 0.55
Food and beverages purchased for
off-premises consumption......... 0.00 0.07 0.03 0.13 0.22 0.10 -0.02 0.03 0.03 0.06 -0.02 0.04 0.04 0.16 0.30 0.09 0.21 0.06 0.03
Clothing and footwear............. 0.04 0.07 0.08 0.05 0.04 0.02 0.17 0.08 0.21 0.00 0.07 0.05 0.05 0.02 0.11 0.03 0.03 -0.08 0.19
Gasoline and other energy goods... 0.05 -0.02 0.09 0.02 0.04 -0.11 -0.13 0.00 0.18 0.15 0.04 0.11 0.01 0.10 -0.08 -0.05 -0.03 -0.10 0.09
Other nondurable goods............ 0.18 0.26 0.27 0.20 0.25 0.12 0.43 0.35 0.24 0.15 0.27 0.38 0.22 0.10 0.34 -0.06 0.15 0.28 0.25
Services.............................. 0.28 1.07 1.44 1.05 1.39 0.74 0.96 1.64 2.10 1.56 1.04 0.90 1.17 0.77 1.28 1.23 0.97 1.17 0.91
Household consumption expenditures
(for services)..................... 0.24 1.09 1.42 0.95 1.35 0.84 0.87 1.68 2.15 1.71 0.90 0.72 0.93 0.78 1.24 1.08 0.98 1.11 0.90
Housing and utilities............. 0.06 0.17 0.21 0.16 0.34 0.58 -0.28 -0.03 0.50 0.50 -0.10 0.24 -0.01 0.20 0.35 0.27 -0.11 -0.04 0.35
Health care....................... 0.05 0.34 0.57 0.43 0.37 -0.22 0.65 0.81 0.82 0.60 0.24 0.44 0.31 0.50 0.62 0.13 0.62 0.24 0.35
Transportation services........... 0.06 0.11 0.09 0.08 -0.04 0.25 0.08 0.17 0.04 0.09 0.09 0.04 0.14 0.07 0.02 0.11 0.06 0.04 0.04
Recreation services............... 0.04 0.06 0.06 0.06 0.07 0.13 -0.12 0.12 0.09 0.05 0.08 -0.01 0.20 -0.01 -0.02 0.12 0.07 0.12 -0.02
Food services and accommodations 0.07 0.14 0.19 0.11 0.29 -0.04 0.28 0.22 0.28 0.05 0.29 0.07 0.17 0.02 0.18 0.07 0.00 0.12 -0.07
Financial services and insurance 0.01 0.08 0.15 -0.09 0.19 -0.06 0.08 0.25 0.13 0.26 0.21 -0.09 0.01 -0.35 -0.12 0.13 0.07 0.40 0.18
Other services.................... -0.05 0.17 0.15 0.20 0.13 0.20 0.18 0.14 0.29 0.17 0.08 0.02 0.10 0.35 0.20 0.25 0.27 0.23 0.07
Final consumption expenditures of
nonprofit institutions serving
households......................... 0.04 -0.02 0.02 0.10 0.04 -0.10 0.09 -0.04 -0.06 -0.15 0.14 0.19 0.24 -0.01 0.04 0.15 -0.01 0.06 0.01
Gross output of nonprofit
institutions..................... 0.07 0.10 0.22 0.24 0.29 -0.43 0.37 0.36 0.43 0.10 0.05 0.16 0.29 0.20 0.38 0.19 0.36 0.12 0.14
Less: Receipts from sales of
goods and services by nonprofit
institutions..................... 0.03 0.12 0.20 0.14 0.25 -0.33 0.29 0.40 0.48 0.25 -0.09 -0.03 0.05 0.21 0.34 0.04 0.38 0.06 0.14
Gross private domestic investment....... 0.95 0.90 0.87 -0.28 0.91 -0.93 2.47 1.90 -0.21 2.12 0.14 0.33 -1.08 -0.68 -0.45 0.40 1.34 -0.20 0.34
Fixed investment...................... 0.76 0.97 0.64 0.12 1.01 0.76 1.56 1.45 0.04 0.67 0.77 0.55 -0.41 -0.05 0.22 0.25 0.28 1.27 0.36
Nonresidential...................... 0.43 0.86 0.30 -0.08 1.16 0.85 1.16 1.31 -0.30 0.30 0.38 0.19 -0.67 -0.52 0.41 0.42 0.02 0.86 0.64
Structures........................ 0.04 0.30 -0.06 -0.12 0.06 0.57 0.36 -0.05 0.14 -0.07 0.14 -0.50 -0.69 0.06 0.01 0.37 -0.06 0.39 0.14
Equipment......................... 0.26 0.39 0.21 -0.20 1.05 0.02 0.61 1.07 -0.76 0.49 0.06 0.58 -0.28 -0.82 -0.04 -0.12 0.10 0.24 0.44
Information processing
equipment...................... 0.09 0.07 0.07 0.03 -0.04 0.07 0.25 -0.07 0.14 -0.02 0.08 0.23 0.04 -0.16 0.08 0.10 0.05 0.13 0.19
Computers and peripheral
equipment.................... 0.00 0.01 -0.02 -0.01 0.08 -0.07 0.09 -0.02 0.03 -0.11 0.02 0.05 -0.10 -0.02 0.01 0.00 -0.01 0.01 0.17
Other......................... 0.09 0.06 0.09 0.05 -0.11 0.14 0.16 -0.05 0.12 0.09 0.06 0.18 0.14 -0.14 0.06 0.11 0.06 0.11 0.02
Industrial equipment............ -0.02 0.05 0.01 0.03 -0.12 0.15 0.17 0.15 -0.22 0.00 0.12 -0.02 0.09 -0.07 0.08 0.03 0.07 0.09 0.14
Transportation equipment........ 0.14 0.17 0.16 -0.12 0.49 -0.03 0.22 0.41 -0.25 0.50 -0.06 0.37 -0.24 -0.37 0.01 -0.23 -0.05 -0.04 -0.01
Other equipment................. 0.05 0.10 -0.04 -0.14 0.72 -0.17 -0.03 0.58 -0.43 0.00 -0.08 0.00 -0.17 -0.23 -0.21 -0.03 0.04 0.06 0.12
Intellectual property products.... 0.13 0.18 0.15 0.25 0.04 0.26 0.19 0.29 0.31 -0.11 0.19 0.11 0.31 0.24 0.43 0.17 -0.02 0.23 0.06
Software........................ 0.05 0.14 0.10 0.13 0.08 0.18 0.21 0.19 0.05 0.11 0.07 0.05 0.12 0.17 0.19 0.12 0.04 0.09 0.04
Research and development........ 0.08 0.04 0.02 0.11 -0.04 0.10 -0.01 0.09 0.23 -0.25 0.09 0.04 0.17 0.08 0.25 0.02 -0.07 0.13 0.05
Entertainment, literary, and
artistic originals............. 0.00 0.00 0.02 0.01 0.00 -0.02 -0.01 0.01 0.03 0.03 0.02 0.03 0.01 0.00 -0.01 0.03 0.02 0.01 -0.03
Residential......................... 0.33 0.11 0.34 0.20 -0.15 -0.09 0.40 0.14 0.35 0.37 0.39 0.36 0.26 0.47 -0.18 -0.18 0.26 0.41 -0.27
Change in private inventories......... 0.19 -0.07 0.23 -0.40 -0.11 -1.69 0.91 0.44 -0.26 1.45 -0.63 -0.22 -0.68 -0.64 -0.67 0.16 1.06 -1.46 -0.02
Farm................................ 0.18 -0.08 0.03 0.00 0.06 -0.45 0.04 0.05 -0.03 0.17 -0.06 0.01 -0.09 0.00 0.14 -0.05 -0.09 0.13 -0.13
Nonfarm............................. 0.00 0.01 0.20 -0.39 -0.16 -1.25 0.87 0.40 -0.23 1.27 -0.57 -0.23 -0.59 -0.63 -0.81 0.20 1.15 -1.59 0.11
Net exports of goods and services....... 0.29 -0.16 -0.73 -0.23 1.29 -1.14 -0.40 0.28 -1.02 -1.64 -0.03 -0.77 -0.28 -0.28 0.28 0.36 -1.61 0.22 0.18
Exports............................... 0.47 0.58 0.05 -0.04 1.54 -0.35 1.22 0.09 0.65 -0.59 0.47 -0.51 -0.29 -0.33 0.32 0.74 -0.47 0.85 0.48
Goods............................... 0.29 0.42 -0.03 0.02 1.38 -0.60 0.97 0.21 0.41 -0.78 0.45 -0.43 -0.32 0.01 0.21 0.60 -0.27 0.81 0.22
Services............................ 0.18 0.16 0.09 -0.06 0.16 0.25 0.25 -0.12 0.24 0.19 0.02 -0.09 0.03 -0.33 0.11 0.13 -0.19 0.04 0.26
Imports............................... -0.18 -0.74 -0.78 -0.19 -0.24 -0.79 -1.62 0.18 -1.67 -1.05 -0.50 -0.25 0.01 0.04 -0.04 -0.37 -1.14 -0.63 -0.31
Goods............................... -0.17 -0.67 -0.67 -0.11 -0.21 -0.76 -1.44 0.17 -1.44 -1.01 -0.38 -0.08 0.06 0.07 -0.02 -0.14 -1.05 -0.56 -0.24
Services............................ -0.02 -0.07 -0.11 -0.09 -0.03 -0.03 -0.18 0.02 -0.23 -0.04 -0.12 -0.17 -0.05 -0.03 -0.03 -0.24 -0.09 -0.07 -0.06
Government consumption expenditures and
gross investment....................... -0.56 -0.12 0.25 0.13 -0.53 -0.11 0.20 0.39 -0.11 0.27 0.60 0.21 0.05 0.32 -0.16 0.09 0.03 -0.11 0.12
Federal............................... -0.46 -0.18 -0.01 0.00 -0.42 -0.03 -0.11 0.22 -0.40 0.11 0.12 -0.07 0.17 -0.10 -0.06 0.11 -0.03 -0.16 0.15
National defense.................... -0.34 -0.18 -0.09 -0.03 -0.19 -0.25 -0.07 0.11 -0.48 -0.04 0.08 -0.19 0.14 -0.11 -0.08 0.10 -0.13 -0.13 0.20
Consumption expenditures.......... -0.27 -0.13 -0.08 -0.03 -0.13 -0.03 -0.15 0.14 -0.47 0.07 0.01 -0.14 0.07 -0.09 -0.04 0.10 -0.16 -0.21 0.05
Gross investment.................. -0.07 -0.05 -0.02 0.00 -0.06 -0.22 0.08 -0.03 -0.02 -0.11 0.08 -0.04 0.07 -0.01 -0.04 0.00 0.03 0.08 0.14
Nondefense.......................... -0.12 0.01 0.09 0.03 -0.23 0.22 -0.04 0.11 0.09 0.15 0.04 0.11 0.02 0.00 0.02 0.01 0.10 -0.03 -0.05
Consumption expenditures.......... -0.08 0.00 0.07 0.02 -0.21 0.19 -0.06 0.10 0.04 0.15 0.02 0.11 0.03 -0.02 0.00 -0.01 0.06 -0.07 -0.02
Gross investment.................. -0.04 0.01 0.01 0.01 -0.02 0.03 0.02 0.01 0.04 0.00 0.01 0.00 -0.01 0.02 0.02 0.01 0.03 0.04 -0.03
State and local....................... -0.09 0.06 0.26 0.13 -0.11 -0.09 0.31 0.17 0.28 0.17 0.48 0.28 -0.12 0.42 -0.11 -0.02 0.06 0.05 -0.02
Consumption expenditures............ -0.02 0.06 0.20 0.15 -0.03 0.02 0.16 0.14 0.21 0.22 0.20 0.23 0.11 0.17 0.14 0.17 0.01 0.04 0.08
Gross investment.................... -0.07 0.00 0.06 -0.02 -0.08 -0.10 0.14 0.03 0.08 -0.05 0.28 0.05 -0.23 0.25 -0.24 -0.18 0.05 0.01 -0.11
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
See 'Explanatory Note' at the end of the tables.
Source: U.S. Bureau of Economic Analysis
Table 2A. Contributions to Percent Change in Real Gross Domestic Product
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 -------------------------------------Seasonally adjusted at annual rates-------------------------------------
2013 -------------2014------------- -------------2015------------- -------------2016------------- 2017
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Percent change at annual rate:..........
Gross domestic product.............. 1.7 2.6 2.9 1.5 4.0 -0.9 4.6 5.2 2.0 3.2 2.7 1.6 0.5 0.6 2.2 2.8 1.8 1.2
Previously published.............. 1.7 2.4 2.6 1.6 4.0 -1.2 4.0 5.0 2.3 2.0 2.6 2.0 0.9 0.8 1.4 3.5 2.1 1.4
Percentage points at annual rates:
Personal consumption expenditures....... 1.00 1.95 2.47 1.86 2.29 1.27 2.33 2.65 3.36 2.48 2.03 1.86 1.80 1.23 2.57 1.92 1.99 1.32
Previously published.................. 1.00 1.95 2.16 1.86 2.29 1.26 2.56 2.52 3.07 1.63 1.94 1.81 1.53 1.11 2.88 2.03 2.40 0.75
Goods................................. 0.71 0.88 1.03 0.81 0.90 0.52 1.38 1.01 1.26 0.93 0.99 0.95 0.63 0.46 1.30 0.69 1.03 0.15
Previously published................ 0.71 0.89 0.91 0.79 0.90 0.54 1.50 0.98 1.14 0.59 0.94 0.92 0.47 0.25 1.51 0.77 1.29 0.11
Durable goods....................... 0.45 0.50 0.57 0.41 0.36 0.39 0.93 0.56 0.60 0.57 0.63 0.37 0.31 0.08 0.62 0.68 0.67 -0.01
Previously published.............. 0.45 0.49 0.51 0.42 0.36 0.33 0.91 0.62 0.61 0.30 0.55 0.45 0.30 -0.05 0.70 0.84 0.82 -0.12
Motor vehicles and parts.......... 0.11 0.15 0.17 0.08 0.10 0.19 0.35 0.14 0.16 0.23 0.29 -0.01 -0.11 -0.09 0.18 0.36 0.32 -0.26
Previously published............ 0.11 0.16 0.13 0.08 0.10 0.17 0.35 0.22 0.19 0.02 0.16 0.07 -0.04 -0.23 0.22 0.47 0.39 -0.40
Furnishings and durable household
equipment........................ 0.10 0.14 0.14 0.12 0.08 0.06 0.28 0.13 0.14 0.11 0.13 0.15 0.14 0.09 0.15 0.10 0.09 0.08
Previously published............ 0.10 0.12 0.12 0.11 0.08 0.05 0.24 0.11 0.11 0.08 0.11 0.13 0.10 0.08 0.15 0.10 0.07 0.05
Recreational goods and vehicles... 0.19 0.15 0.18 0.18 0.07 0.09 0.22 0.25 0.20 0.14 0.13 0.17 0.23 0.11 0.25 0.16 0.22 0.21
Previously published............ 0.19 0.16 0.19 0.20 0.07 0.09 0.26 0.26 0.20 0.14 0.21 0.18 0.16 0.14 0.29 0.20 0.28 0.28
Other durable goods............... 0.05 0.06 0.08 0.03 0.10 0.05 0.08 0.04 0.09 0.10 0.07 0.06 0.06 -0.03 0.04 0.06 0.04 -0.03
Previously published............ 0.05 0.05 0.07 0.04 0.10 0.01 0.07 0.04 0.10 0.06 0.07 0.07 0.08 -0.04 0.05 0.07 0.07 -0.04
Nondurable goods.................... 0.27 0.38 0.47 0.40 0.54 0.13 0.45 0.45 0.67 0.36 0.36 0.58 0.32 0.38 0.68 0.01 0.35 0.16
Previously published.............. 0.27 0.40 0.40 0.36 0.54 0.21 0.59 0.35 0.53 0.28 0.39 0.47 0.17 0.30 0.80 -0.07 0.47 0.23
Food and beverages purchased for
off-premises consumption......... 0.00 0.07 0.03 0.13 0.22 0.10 -0.02 0.03 0.03 0.06 -0.02 0.04 0.04 0.16 0.30 0.09 0.21 0.06
Previously published............ 0.00 0.11 0.00 0.14 0.22 0.17 0.10 0.02 0.00 -0.02 -0.01 -0.03 -0.01 0.15 0.36 0.13 0.32 0.16
Clothing and footwear............. 0.04 0.07 0.08 0.05 0.04 0.02 0.17 0.08 0.21 0.00 0.07 0.05 0.05 0.02 0.11 0.03 0.03 -0.08
Previously published............ 0.04 0.04 0.08 0.03 0.04 -0.05 0.13 0.02 0.19 0.01 0.11 0.04 0.02 -0.02 0.10 -0.02 0.00 -0.10
Gasoline and other energy goods... 0.05 -0.02 0.09 0.02 0.04 -0.11 -0.13 0.00 0.18 0.15 0.04 0.11 0.01 0.10 -0.08 -0.05 -0.03 -0.10
Previously published............ 0.05 0.01 0.07 0.02 0.04 -0.04 -0.06 0.02 0.13 0.14 -0.01 0.10 -0.02 0.08 0.00 -0.04 -0.03 -0.09
Other nondurable goods............ 0.18 0.26 0.27 0.20 0.25 0.12 0.43 0.35 0.24 0.15 0.27 0.38 0.22 0.10 0.34 -0.06 0.15 0.28
Previously published............ 0.18 0.25 0.25 0.18 0.25 0.13 0.42 0.29 0.21 0.16 0.29 0.35 0.18 0.08 0.35 -0.14 0.18 0.26
Services.............................. 0.28 1.07 1.44 1.05 1.39 0.74 0.96 1.64 2.10 1.56 1.04 0.90 1.17 0.77 1.28 1.23 0.97 1.17
Previously published................ 0.28 1.06 1.26 1.08 1.39 0.73 1.06 1.54 1.93 1.04 1.00 0.89 1.07 0.86 1.37 1.26 1.11 0.64
Household consumption expenditures
(for services)..................... 0.24 1.09 1.42 0.95 1.35 0.84 0.87 1.68 2.15 1.71 0.90 0.72 0.93 0.78 1.24 1.08 0.98 1.11
Previously published.............. 0.24 1.08 1.26 1.01 1.35 0.71 1.13 1.60 2.00 1.08 0.99 0.69 0.92 0.85 1.46 1.02 1.12 0.64
Housing and utilities............. 0.06 0.17 0.21 0.16 0.34 0.58 -0.28 -0.03 0.50 0.50 -0.10 0.24 -0.01 0.20 0.35 0.27 -0.11 -0.04
Previously published............ 0.06 0.17 0.20 0.15 0.34 0.42 -0.06 0.00 0.39 0.39 0.11 0.21 -0.22 0.09 0.54 0.32 -0.18 -0.14
Health care....................... 0.05 0.34 0.57 0.43 0.37 -0.22 0.65 0.81 0.82 0.60 0.24 0.44 0.31 0.50 0.62 0.13 0.62 0.24
Previously published............ 0.05 0.36 0.60 0.53 0.37 -0.15 0.70 0.73 0.90 0.50 0.44 0.43 0.42 0.63 0.83 0.07 0.64 0.27
Transportation services........... 0.06 0.11 0.09 0.08 -0.04 0.25 0.08 0.17 0.04 0.09 0.09 0.04 0.14 0.07 0.02 0.11 0.06 0.04
Previously published............ 0.06 0.09 0.07 0.03 -0.04 0.19 0.05 0.14 0.06 0.08 0.06 0.01 0.11 -0.03 -0.03 0.05 0.11 -0.15
Recreation services............... 0.04 0.06 0.06 0.06 0.07 0.13 -0.12 0.12 0.09 0.05 0.08 -0.01 0.20 -0.01 -0.02 0.12 0.07 0.12
Previously published............ 0.04 0.05 0.04 0.04 0.07 0.07 -0.12 0.18 0.08 0.01 -0.05 0.03 0.24 -0.02 -0.18 0.14 0.15 0.07
Food services and accommodations 0.07 0.14 0.19 0.11 0.29 -0.04 0.28 0.22 0.28 0.05 0.29 0.07 0.17 0.02 0.18 0.07 0.00 0.12
Previously published............ 0.07 0.14 0.19 0.12 0.29 -0.01 0.27 0.19 0.25 0.12 0.29 0.07 0.17 0.11 0.12 0.10 0.00 0.12
Financial services and insurance 0.01 0.08 0.15 -0.09 0.19 -0.06 0.08 0.25 0.13 0.26 0.21 -0.09 0.01 -0.35 -0.12 0.13 0.07 0.40
Previously published............ 0.01 0.07 0.01 0.02 0.19 -0.05 0.07 0.21 -0.04 -0.05 0.02 -0.05 0.11 -0.12 -0.03 0.23 0.11 0.33
Other services.................... -0.05 0.17 0.15 0.20 0.13 0.20 0.18 0.14 0.29 0.17 0.08 0.02 0.10 0.35 0.20 0.25 0.27 0.23
Previously published............ -0.05 0.20 0.14 0.14 0.13 0.23 0.22 0.15 0.36 0.03 0.13 -0.01 0.10 0.18 0.19 0.11 0.28 0.14
Final consumption expenditures of
nonprofit institutions serving
households......................... 0.04 -0.02 0.02 0.10 0.04 -0.10 0.09 -0.04 -0.06 -0.15 0.14 0.19 0.24 -0.01 0.04 0.15 -0.01 0.06
Previously published.............. 0.04 -0.02 0.00 0.07 0.04 0.02 -0.07 -0.06 -0.07 -0.04 0.00 0.20 0.15 0.01 -0.08 0.24 -0.02 0.00
Gross output of nonprofit
institutions..................... 0.07 0.10 0.22 0.24 0.29 -0.43 0.37 0.36 0.43 0.10 0.05 0.16 0.29 0.20 0.38 0.19 0.36 0.12
Previously published............ 0.07 0.11 0.18 0.26 0.29 -0.33 0.36 0.29 0.39 0.01 0.07 0.10 0.25 0.28 0.40 0.27 0.32 0.07
Less: Receipts from sales of
goods and services by nonprofit
institutions..................... 0.03 0.12 0.20 0.14 0.25 -0.33 0.29 0.40 0.48 0.25 -0.09 -0.03 0.05 0.21 0.34 0.04 0.38 0.06
Previously published............ 0.03 0.14 0.18 0.20 0.25 -0.35 0.43 0.35 0.46 0.05 0.06 -0.09 0.10 0.27 0.49 0.03 0.34 0.07
Gross private domestic investment....... 0.95 0.90 0.87 -0.28 0.91 -0.93 2.47 1.90 -0.21 2.12 0.14 0.33 -1.08 -0.68 -0.45 0.40 1.34 -0.20
Previously published.................. 0.95 0.73 0.82 -0.26 0.91 -1.10 1.79 1.49 0.45 1.62 0.18 0.35 -0.39 -0.56 -1.34 0.50 1.47 0.60
Fixed investment...................... 0.76 0.97 0.64 0.12 1.01 0.76 1.56 1.45 0.04 0.67 0.77 0.55 -0.41 -0.05 0.22 0.25 0.28 1.27
Previously published................ 0.76 0.87 0.65 0.11 1.01 0.79 1.12 1.16 0.22 0.61 0.70 0.92 -0.03 -0.15 -0.18 0.02 0.46 1.71
Nonresidential...................... 0.43 0.86 0.30 -0.08 1.16 0.85 1.16 1.31 -0.30 0.30 0.38 0.19 -0.67 -0.52 0.41 0.42 0.02 0.86
Previously published.............. 0.43 0.76 0.27 -0.07 1.16 0.84 0.76 1.05 -0.14 0.18 0.21 0.49 -0.43 -0.44 0.12 0.18 0.11 1.23
Structures........................ 0.04 0.30 -0.06 -0.12 0.06 0.57 0.36 -0.05 0.14 -0.07 0.14 -0.50 -0.69 0.06 0.01 0.37 -0.06 0.39
Previously published............ 0.04 0.29 -0.13 -0.08 0.06 0.66 0.22 -0.08 0.13 -0.39 -0.07 -0.12 -0.45 0.00 -0.06 0.30 -0.05 0.56
Equipment......................... 0.26 0.39 0.21 -0.20 1.05 0.02 0.61 1.07 -0.76 0.49 0.06 0.58 -0.28 -0.82 -0.04 -0.12 0.10 0.24
Previously published............ 0.26 0.32 0.21 -0.17 1.05 0.00 0.37 0.86 -0.57 0.54 -0.02 0.53 -0.16 -0.59 -0.17 -0.26 0.11 0.42
Information processing
equipment...................... 0.09 0.07 0.07 0.03 -0.04 0.07 0.25 -0.07 0.14 -0.02 0.08 0.23 0.04 -0.16 0.08 0.10 0.05 0.13
Previously published.......... 0.09 0.05 0.07 0.04 -0.04 0.05 0.28 -0.25 0.25 0.00 -0.09 0.40 0.02 -0.05 -0.09 0.15 0.07 0.23
Computers and peripheral
equipment.................... 0.00 0.01 -0.02 -0.01 0.08 -0.07 0.09 -0.02 0.03 -0.11 0.02 0.05 -0.10 -0.02 0.01 0.00 -0.01 0.01
Previously published........ 0.00 0.00 0.00 -0.01 0.08 -0.08 0.05 0.02 0.02 -0.08 0.06 0.05 -0.13 0.02 0.05 -0.02 -0.04 0.06
Other......................... 0.09 0.06 0.09 0.05 -0.11 0.14 0.16 -0.05 0.12 0.09 0.06 0.18 0.14 -0.14 0.06 0.11 0.06 0.11
Previously published........ 0.09 0.04 0.07 0.05 -0.11 0.12 0.22 -0.26 0.23 0.08 -0.15 0.35 0.15 -0.07 -0.13 0.17 0.11 0.17
Industrial equipment............ -0.02 0.05 0.01 0.03 -0.12 0.15 0.17 0.15 -0.22 0.00 0.12 -0.02 0.09 -0.07 0.08 0.03 0.07 0.09
Previously published.......... -0.02 0.04 0.02 0.03 -0.12 0.15 0.13 0.09 -0.14 0.01 0.15 -0.06 0.12 -0.05 0.11 -0.03 0.06 0.09
Transportation equipment........ 0.14 0.17 0.16 -0.12 0.49 -0.03 0.22 0.41 -0.25 0.50 -0.06 0.37 -0.24 -0.37 0.01 -0.23 -0.05 -0.04
Previously published.......... 0.14 0.17 0.18 -0.10 0.49 -0.03 0.12 0.47 -0.13 0.46 -0.02 0.26 -0.11 -0.23 -0.09 -0.29 -0.02 0.07
Other equipment................. 0.05 0.10 -0.04 -0.14 0.72 -0.17 -0.03 0.58 -0.43 0.00 -0.08 0.00 -0.17 -0.23 -0.21 -0.03 0.04 0.06
Previously published.......... 0.05 0.06 -0.06 -0.15 0.72 -0.17 -0.16 0.54 -0.54 0.07 -0.06 -0.07 -0.19 -0.26 -0.11 -0.08 0.00 0.04
Intellectual property products.... 0.13 0.18 0.15 0.25 0.04 0.26 0.19 0.29 0.31 -0.11 0.19 0.11 0.31 0.24 0.43 0.17 -0.02 0.23
Previously published............ 0.13 0.15 0.19 0.19 0.04 0.18 0.17 0.27 0.29 0.03 0.31 0.08 0.18 0.15 0.35 0.13 0.05 0.26
Software........................ 0.05 0.14 0.10 0.13 0.08 0.18 0.21 0.19 0.05 0.11 0.07 0.05 0.12 0.17 0.19 0.12 0.04 0.09
Previously published.......... 0.05 0.10 0.11 0.08 0.08 0.09 0.14 0.17 0.13 0.15 0.11 -0.02 0.06 0.13 0.08 0.12 0.02 0.11
Research and development........ 0.08 0.04 0.02 0.11 -0.04 0.10 -0.01 0.09 0.23 -0.25 0.09 0.04 0.17 0.08 0.25 0.02 -0.07 0.13
Previously published.......... 0.08 0.05 0.06 0.10 -0.04 0.10 0.04 0.09 0.14 -0.13 0.18 0.08 0.11 0.02 0.28 -0.03 0.02 0.14
Entertainment, literary, and
artistic originals............. 0.00 0.00 0.02 0.01 0.00 -0.02 -0.01 0.01 0.03 0.03 0.02 0.03 0.01 0.00 -0.01 0.03 0.02 0.01
Previously published.......... 0.00 0.00 0.02 0.01 0.00 -0.01 0.00 0.01 0.02 0.02 0.02 0.02 0.01 -0.01 -0.01 0.04 0.02 0.01
Residential......................... 0.33 0.11 0.34 0.20 -0.15 -0.09 0.40 0.14 0.35 0.37 0.39 0.36 0.26 0.47 -0.18 -0.18 0.26 0.41
Previously published.............. 0.33 0.11 0.39 0.18 -0.15 -0.04 0.36 0.12 0.36 0.43 0.49 0.43 0.40 0.29 -0.31 -0.16 0.35 0.48
Change in private inventories......... 0.19 -0.07 0.23 -0.40 -0.11 -1.69 0.91 0.44 -0.26 1.45 -0.63 -0.22 -0.68 -0.64 -0.67 0.16 1.06 -1.46
Previously published................ 0.19 -0.14 0.17 -0.37 -0.11 -1.89 0.67 0.32 0.23 1.01 -0.52 -0.57 -0.36 -0.41 -1.16 0.49 1.01 -1.11
Farm................................ 0.18 -0.08 0.03 0.00 0.06 -0.45 0.04 0.05 -0.03 0.17 -0.06 0.01 -0.09 0.00 0.14 -0.05 -0.09 0.13
Previously published.............. 0.18 -0.07 0.00 -0.01 0.06 -0.39 0.03 0.02 -0.04 0.09 -0.05 0.01 -0.08 -0.05 0.07 0.08 -0.14 0.04
Nonfarm............................. 0.00 0.01 0.20 -0.39 -0.16 -1.25 0.87 0.40 -0.23 1.27 -0.57 -0.23 -0.59 -0.63 -0.81 0.20 1.15 -1.59
Previously published.............. 0.00 -0.07 0.17 -0.35 -0.16 -1.50 0.64 0.30 0.28 0.92 -0.47 -0.58 -0.28 -0.35 -1.23 0.41 1.15 -1.15
Net exports of goods and services....... 0.29 -0.16 -0.73 -0.23 1.29 -1.14 -0.40 0.28 -1.02 -1.64 -0.03 -0.77 -0.28 -0.28 0.28 0.36 -1.61 0.22
Previously published.................. 0.29 -0.15 -0.71 -0.13 1.29 -1.16 -0.41 0.50 -1.14 -1.65 -0.08 -0.52 -0.45 0.01 0.18 0.85 -1.82 0.23
Exports............................... 0.47 0.58 0.05 -0.04 1.54 -0.35 1.22 0.09 0.65 -0.59 0.47 -0.51 -0.29 -0.33 0.32 0.74 -0.47 0.85
Previously published................ 0.47 0.58 0.01 0.04 1.54 -0.39 1.16 0.29 0.60 -0.78 0.37 -0.36 -0.34 -0.09 0.21 1.16 -0.55 0.82
Goods............................... 0.29 0.42 -0.03 0.02 1.38 -0.60 0.97 0.21 0.41 -0.78 0.45 -0.43 -0.32 0.01 0.21 0.60 -0.27 0.81
Previously published.............. 0.29 0.41 -0.06 0.05 1.38 -0.72 0.96 0.41 0.35 -0.94 0.39 -0.26 -0.38 0.01 0.13 1.08 -0.55 0.79
Services............................ 0.18 0.16 0.09 -0.06 0.16 0.25 0.25 -0.12 0.24 0.19 0.02 -0.09 0.03 -0.33 0.11 0.13 -0.19 0.04
Previously published.............. 0.18 0.17 0.07 0.00 0.16 0.33 0.20 -0.13 0.25 0.16 -0.02 -0.10 0.04 -0.09 0.08 0.08 0.00 0.03
Imports............................... -0.18 -0.74 -0.78 -0.19 -0.24 -0.79 -1.62 0.18 -1.67 -1.05 -0.50 -0.25 0.01 0.04 -0.04 -0.37 -1.14 -0.63
Previously published................ -0.18 -0.72 -0.73 -0.17 -0.24 -0.77 -1.57 0.21 -1.74 -0.87 -0.44 -0.16 -0.11 0.09 -0.03 -0.31 -1.27 -0.59
Goods............................... -0.17 -0.67 -0.67 -0.11 -0.21 -0.76 -1.44 0.17 -1.44 -1.01 -0.38 -0.08 0.06 0.07 -0.02 -0.14 -1.05 -0.56
Previously published.............. -0.17 -0.65 -0.65 -0.09 -0.21 -0.74 -1.40 0.21 -1.50 -0.87 -0.43 0.02 -0.09 0.16 0.00 -0.06 -1.25 -0.53
Services............................ -0.02 -0.07 -0.11 -0.09 -0.03 -0.03 -0.18 0.02 -0.23 -0.04 -0.12 -0.17 -0.05 -0.03 -0.03 -0.24 -0.09 -0.07
Previously published.............. -0.02 -0.07 -0.08 -0.08 -0.03 -0.03 -0.17 0.00 -0.24 0.00 -0.01 -0.18 -0.02 -0.07 -0.03 -0.26 -0.02 -0.07
Government consumption expenditures and
gross investment....................... -0.56 -0.12 0.25 0.13 -0.53 -0.11 0.20 0.39 -0.11 0.27 0.60 0.21 0.05 0.32 -0.16 0.09 0.03 -0.11
Previously published.................. -0.56 -0.16 0.32 0.14 -0.53 -0.19 0.02 0.46 -0.07 0.45 0.57 0.34 0.18 0.28 -0.30 0.14 0.03 -0.16
Federal............................... -0.46 -0.18 -0.01 0.00 -0.42 -0.03 -0.11 0.22 -0.40 0.11 0.12 -0.07 0.17 -0.10 -0.06 0.11 -0.03 -0.16
Previously published................ -0.46 -0.19 0.00 0.04 -0.42 -0.01 -0.20 0.28 -0.43 0.13 0.01 0.06 0.25 -0.10 -0.02 0.16 -0.08 -0.14
National defense.................... -0.34 -0.18 -0.09 -0.03 -0.19 -0.25 -0.07 0.11 -0.48 -0.04 0.08 -0.19 0.14 -0.11 -0.08 0.10 -0.13 -0.13
Previously published.............. -0.34 -0.19 -0.09 -0.03 -0.19 -0.23 -0.14 0.17 -0.52 -0.02 -0.02 -0.05 0.17 -0.13 -0.13 0.08 -0.14 -0.16
Consumption expenditures.......... -0.27 -0.13 -0.08 -0.03 -0.13 -0.03 -0.15 0.14 -0.47 0.07 0.01 -0.14 0.07 -0.09 -0.04 0.10 -0.16 -0.21
Previously published............ -0.27 -0.13 -0.06 -0.05 -0.13 -0.03 -0.22 0.22 -0.49 0.11 -0.05 -0.03 0.06 -0.11 -0.10 0.06 -0.16 -0.21
Gross investment.................. -0.07 -0.05 -0.02 0.00 -0.06 -0.22 0.08 -0.03 -0.02 -0.11 0.08 -0.04 0.07 -0.01 -0.04 0.00 0.03 0.08
Previously published............ -0.07 -0.05 -0.03 0.02 -0.06 -0.20 0.07 -0.05 -0.03 -0.13 0.03 -0.01 0.11 -0.02 -0.02 0.02 0.01 0.05
Nondefense.......................... -0.12 0.01 0.09 0.03 -0.23 0.22 -0.04 0.11 0.09 0.15 0.04 0.11 0.02 0.00 0.02 0.01 0.10 -0.03
Previously published.............. -0.12 0.00 0.09 0.07 -0.23 0.22 -0.05 0.10 0.09 0.15 0.03 0.11 0.08 0.03 0.10 0.08 0.06 0.02
Consumption expenditures.......... -0.08 0.00 0.07 0.02 -0.21 0.19 -0.06 0.10 0.04 0.15 0.02 0.11 0.03 -0.02 0.00 -0.01 0.06 -0.07
Previously published............ -0.08 0.00 0.08 0.06 -0.21 0.21 -0.07 0.10 0.06 0.15 0.02 0.11 0.05 0.04 0.10 0.07 0.04 -0.01
Gross investment.................. -0.04 0.01 0.01 0.01 -0.02 0.03 0.02 0.01 0.04 0.00 0.01 0.00 -0.01 0.02 0.02 0.01 0.03 0.04
Previously published............ -0.04 0.00 0.01 0.01 -0.02 0.01 0.01 0.01 0.04 0.00 0.01 0.00 0.02 -0.01 0.01 0.02 0.02 0.03
State and local....................... -0.09 0.06 0.26 0.13 -0.11 -0.09 0.31 0.17 0.28 0.17 0.48 0.28 -0.12 0.42 -0.11 -0.02 0.06 0.05
Previously published................ -0.09 0.03 0.32 0.10 -0.11 -0.17 0.22 0.18 0.36 0.32 0.56 0.27 -0.07 0.39 -0.28 -0.02 0.11 -0.02
Consumption expenditures............ -0.02 0.06 0.20 0.15 -0.03 0.02 0.16 0.14 0.21 0.22 0.20 0.23 0.11 0.17 0.14 0.17 0.01 0.04
Previously published.............. -0.02 0.02 0.22 0.10 -0.03 -0.07 0.06 0.15 0.24 0.31 0.23 0.24 0.06 0.06 0.07 0.13 0.00 0.05
Gross investment.................... -0.07 0.00 0.06 -0.02 -0.08 -0.10 0.14 0.03 0.08 -0.05 0.28 0.05 -0.23 0.25 -0.24 -0.18 0.05 0.01
Previously published.............. -0.07 0.00 0.10 0.00 -0.08 -0.10 0.16 0.03 0.12 0.01 0.33 0.04 -0.13 0.33 -0.34 -0.16 0.11 -0.07
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
See 'Explanatory Note' at the end of the tables.
Source: U.S. Bureau of Economic Analysis
Table 3A. Gross Domestic Product and Related Measures
[Billions of dollars]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 --------------------------------------------------------------Seasonally adjusted at annual rates--------------------------------------------------------------
---------------2013--------------- ---------------2014--------------- ---------------2015--------------- ---------------2016--------------- ------2017------
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product (GDP)....... 16,691.5 17,427.6 18,120.7 18,624.5 16,475.4 16,541.4 16,749.3 16,999.9 17,031.3 17,320.9 17,622.3 17,735.9 17,874.7 18,093.2 18,227.7 18,287.2 18,325.2 18,538.0 18,729.1 18,905.5 19,057.7 19,226.7
Personal consumption expenditures........ 11,361.2 11,863.7 12,332.3 12,820.7 11,256.7 11,284.5 11,379.1 11,524.4 11,640.2 11,791.9 11,941.1 12,081.4 12,142.2 12,284.2 12,407.8 12,494.9 12,571.5 12,755.0 12,899.4 13,056.9 13,191.6 13,292.6
Goods.................................. 3,834.5 3,970.5 4,033.2 4,121.4 3,827.6 3,803.6 3,834.7 3,872.2 3,904.3 3,963.9 4,000.5 4,013.2 3,975.1 4,029.6 4,067.2 4,060.7 4,046.9 4,108.5 4,134.4 4,195.9 4,230.8 4,241.0
Durable goods........................ 1,241.7 1,296.4 1,367.1 1,411.0 1,238.4 1,237.2 1,241.4 1,249.8 1,259.0 1,291.5 1,309.6 1,325.5 1,341.8 1,366.7 1,376.6 1,383.4 1,382.5 1,401.1 1,420.2 1,440.2 1,443.2 1,452.8
Motor vehicles and parts........... 416.1 441.9 472.2 480.8 418.4 414.4 413.5 418.3 426.0 440.9 447.2 453.4 463.4 478.0 476.9 470.4 465.6 471.3 486.3 500.0 489.1 483.8
Furnishings and durable household
equipment......................... 281.6 294.3 311.5 325.2 278.4 280.1 283.3 284.4 284.8 293.1 297.6 301.6 304.0 309.9 314.2 317.9 321.0 325.1 326.3 328.2 332.9 335.0
Recreational goods and vehicles.... 348.1 357.4 372.4 385.5 346.8 347.5 349.4 348.7 349.2 355.4 360.7 364.2 365.7 368.6 373.3 381.9 380.5 385.3 386.9 389.2 397.9 405.9
Other durable goods................ 195.9 202.8 211.1 219.6 194.8 195.2 195.3 198.4 199.1 202.0 204.0 206.2 208.7 210.2 212.1 213.2 215.5 219.4 220.6 222.8 223.2 228.0
Nondurable goods..................... 2,592.8 2,674.1 2,666.0 2,710.4 2,589.3 2,566.5 2,593.2 2,622.4 2,645.3 2,672.4 2,690.9 2,687.7 2,633.3 2,662.9 2,690.6 2,677.3 2,664.3 2,707.4 2,714.2 2,755.7 2,787.6 2,788.2
Food and beverages purchased for
off-premises consumption.......... 857.5 884.4 899.0 915.1 857.4 851.0 856.8 865.1 873.4 881.4 888.6 894.2 897.4 894.8 901.1 902.5 906.4 916.2 915.4 922.3 925.8 931.9
Clothing and footwear.............. 363.6 376.0 385.5 393.7 362.0 363.3 363.9 365.4 366.7 375.0 377.8 384.4 382.9 384.9 387.1 386.9 389.9 394.2 395.3 395.3 396.0 399.0
Gasoline and other energy goods.... 412.2 397.8 305.1 273.7 424.3 400.9 408.1 415.4 421.2 407.6 396.7 365.6 300.4 315.0 316.0 289.2 260.6 270.8 269.5 294.0 306.3 284.9
Other nondurable goods............. 959.5 1,015.9 1,076.5 1,128.0 945.6 951.3 964.5 976.5 983.9 1,008.4 1,027.8 1,043.6 1,052.6 1,068.2 1,086.4 1,098.7 1,107.5 1,126.2 1,134.0 1,144.1 1,159.6 1,172.5
Services............................... 7,526.7 7,893.2 8,299.1 8,699.3 7,429.0 7,480.9 7,544.5 7,652.2 7,735.9 7,828.0 7,940.7 8,068.2 8,167.0 8,254.6 8,340.6 8,434.2 8,524.6 8,646.5 8,765.0 8,861.0 8,960.7 9,051.6
Household consumption expenditures
(for services)...................... 7,221.8 7,579.6 7,969.7 8,340.4 7,126.7 7,174.7 7,240.0 7,345.8 7,428.7 7,514.3 7,626.3 7,749.2 7,852.8 7,931.4 8,006.9 8,087.5 8,175.1 8,292.3 8,400.8 8,493.5 8,584.9 8,670.2
Housing and utilities.............. 2,054.2 2,143.5 2,235.4 2,331.5 2,032.2 2,048.4 2,054.5 2,081.9 2,127.1 2,129.8 2,141.1 2,175.8 2,213.1 2,221.0 2,246.8 2,260.7 2,284.0 2,319.2 2,352.9 2,369.9 2,387.2 2,422.5
Health care........................ 1,870.9 1,949.9 2,061.2 2,163.7 1,848.3 1,861.3 1,874.5 1,899.6 1,895.6 1,929.0 1,970.0 2,005.1 2,031.1 2,048.5 2,074.6 2,090.7 2,119.0 2,156.1 2,171.9 2,208.0 2,226.6 2,249.7
Transportation services............ 334.5 357.5 374.2 392.5 329.0 332.1 338.6 338.3 349.0 354.0 361.6 365.2 367.4 372.7 374.7 382.2 387.3 389.5 394.6 398.4 403.6 407.3
Recreation services................ 434.2 452.5 471.0 492.6 430.9 426.2 437.0 442.6 451.0 447.5 453.9 457.7 462.1 469.4 471.3 481.3 484.3 488.2 496.6 501.5 512.9 513.1
Food services and accommodations... 710.8 754.1 808.2 849.2 705.6 703.8 710.3 723.7 727.2 746.9 761.8 780.5 788.4 804.9 812.2 827.1 834.3 847.2 854.9 860.4 870.9 871.9
Financial services and insurance... 830.7 888.4 947.2 984.7 808.1 823.8 834.4 856.7 863.5 879.3 899.5 911.5 927.6 947.1 953.7 960.5 961.8 974.6 995.4 1,007.1 1,025.9 1,047.2
Other services..................... 986.4 1,033.7 1,072.4 1,126.1 972.6 979.1 990.7 1,003.1 1,015.2 1,027.7 1,038.6 1,053.4 1,063.0 1,067.9 1,073.7 1,085.0 1,104.4 1,117.5 1,134.4 1,148.1 1,157.8 1,158.4
Final consumption expenditures of
nonprofit institutions serving
households.......................... 304.9 313.6 329.4 358.9 302.3 306.2 304.4 306.4 307.2 313.8 314.4 319.0 314.3 323.2 333.6 346.6 349.5 354.2 364.2 367.5 375.8 381.5
Gross output of nonprofit
institutions...................... 1,229.7 1,274.6 1,339.2 1,411.3 1,210.8 1,226.2 1,231.1 1,250.6 1,240.9 1,263.3 1,284.6 1,309.7 1,321.0 1,331.1 1,344.1 1,360.5 1,376.5 1,402.3 1,420.5 1,446.1 1,461.5 1,478.1
Less: Receipts from sales of goods
and services by nonprofit
institutions...................... 924.8 961.0 1,009.7 1,052.5 908.5 919.9 926.7 944.1 933.7 949.5 970.3 990.7 1,006.8 1,007.9 1,010.5 1,013.8 1,027.0 1,048.1 1,056.3 1,078.6 1,085.7 1,096.6
Gross private domestic investment........ 2,706.3 2,916.4 3,093.6 3,057.2 2,617.6 2,658.1 2,750.8 2,798.6 2,780.7 2,895.0 2,992.0 2,997.9 3,094.6 3,096.3 3,115.7 3,067.7 3,031.6 3,023.1 3,048.0 3,126.2 3,128.7 3,161.8
Fixed investment....................... 2,613.9 2,838.4 2,981.6 3,022.1 2,554.0 2,593.6 2,625.3 2,682.7 2,736.9 2,812.3 2,893.4 2,911.1 2,946.0 2,978.2 3,010.0 2,992.3 2,989.4 3,010.9 3,031.5 3,056.7 3,128.9 3,164.4
Nonresidential....................... 2,094.4 2,268.3 2,336.2 2,316.3 2,058.3 2,077.1 2,094.2 2,147.9 2,194.7 2,251.5 2,316.0 2,310.9 2,328.6 2,343.2 2,353.5 2,319.7 2,291.2 2,311.2 2,329.1 2,333.7 2,383.4 2,424.5
Structures......................... 463.6 537.5 537.5 516.2 439.3 454.7 476.1 484.3 515.5 537.1 542.3 555.1 552.7 556.8 536.2 504.3 504.6 508.7 525.6 525.8 548.4 560.2
Equipment.......................... 982.8 1,046.5 1,081.9 1,043.9 974.3 980.4 968.6 1,008.0 1,010.3 1,038.5 1,085.0 1,052.0 1,073.4 1,073.6 1,097.3 1,083.5 1,046.2 1,044.3 1,040.9 1,044.3 1,057.6 1,080.7
Information processing
equipment....................... 297.2 299.5 302.8 303.9 299.1 299.5 298.4 292.0 293.3 303.7 298.9 302.2 298.3 299.1 306.7 307.1 299.1 302.6 306.8 307.1 310.8 320.5
Computers and peripheral
equipment..................... 79.1 80.5 77.1 73.1 81.7 76.7 77.4 80.4 77.3 81.7 81.0 82.1 77.1 77.4 79.3 74.4 73.2 73.9 73.4 72.1 72.8 81.2
Other.......................... 218.2 219.0 225.8 230.8 217.4 222.8 220.9 211.6 216.0 222.0 217.9 220.2 221.2 221.7 227.5 232.7 225.9 228.7 233.4 235.0 238.1 239.3
Industrial equipment............. 209.0 219.1 220.8 225.0 212.9 208.0 209.9 205.2 212.4 220.1 226.9 217.1 216.8 221.9 220.7 224.0 220.6 224.4 226.0 229.0 234.3 241.6
Transportation equipment......... 240.6 272.3 305.6 286.7 226.2 242.2 237.2 257.0 257.1 267.9 286.4 277.9 301.4 298.9 316.3 305.7 290.4 291.8 283.3 281.3 282.6 282.3
Other equipment.................. 235.9 255.5 252.7 228.3 236.0 230.7 223.2 253.8 247.5 246.9 272.8 254.8 256.8 253.7 253.6 246.7 236.0 225.5 224.9 226.9 229.9 236.4
Intellectual property products..... 647.9 684.3 716.8 756.2 644.7 642.0 649.5 655.6 668.9 675.8 688.8 703.7 702.5 712.9 719.9 731.9 740.4 758.2 762.5 763.7 777.4 783.6
Software......................... 294.6 317.1 332.5 352.8 295.0 290.0 295.3 298.1 306.5 314.7 322.7 324.7 328.6 330.5 333.2 337.8 344.4 351.6 356.1 359.1 363.2 366.1
Research and development......... 278.5 292.3 304.5 320.8 274.7 277.1 279.4 282.7 288.0 286.7 291.2 303.2 296.1 302.9 306.1 312.8 314.3 324.6 323.6 320.8 329.5 333.6
Entertainment, literary, and
artistic originals.............. 74.9 74.9 79.8 82.6 75.0 74.9 74.8 74.8 74.4 74.4 74.9 75.9 77.8 79.5 80.6 81.3 81.7 82.1 82.9 83.7 84.7 84.0
Residential.......................... 519.5 570.2 645.4 705.9 495.7 516.5 531.1 534.8 542.2 560.8 577.4 600.2 617.4 635.0 656.5 672.6 698.3 699.7 702.4 723.0 745.5 739.9
Change in private inventories.......... 92.4 78.0 111.9 35.1 63.6 64.5 125.5 115.9 43.8 82.7 98.6 86.8 148.6 118.1 105.7 75.4 42.2 12.2 16.5 69.5 -0.1 -2.6
Farm................................. 10.2 -4.8 0.5 -0.6 5.6 9.1 14.1 11.8 -6.8 -3.3 -3.8 -5.4 3.5 0.2 0.9 -2.7 -2.9 3.3 0.6 -3.5 2.5 -4.0
Nonfarm.............................. 82.2 82.8 111.5 35.7 58.0 55.4 111.4 104.1 50.7 86.0 102.3 92.2 145.1 117.9 104.8 78.1 45.1 8.9 15.9 73.0 -2.7 1.5
Net exports of goods and services........ -492.0 -509.5 -524.0 -521.2 -519.5 -514.7 -492.9 -440.9 -516.4 -512.7 -489.1 -519.8 -538.2 -507.1 -530.8 -520.1 -526.2 -501.6 -492.8 -564.3 -582.8 -567.3
Exports................................ 2,276.6 2,373.6 2,264.9 2,214.6 2,242.2 2,253.1 2,274.1 2,337.1 2,340.0 2,391.3 2,389.0 2,374.4 2,289.0 2,303.9 2,256.6 2,210.1 2,166.5 2,201.8 2,248.4 2,241.5 2,295.6 2,318.8
Goods................................ 1,562.7 1,617.9 1,497.2 1,446.0 1,537.5 1,544.8 1,558.6 1,609.8 1,597.6 1,633.4 1,631.9 1,608.7 1,521.0 1,532.8 1,489.9 1,445.1 1,407.9 1,436.1 1,473.0 1,467.2 1,515.0 1,524.1
Services............................. 713.9 755.7 767.7 768.5 704.8 708.3 715.5 727.2 742.4 757.8 757.0 765.7 768.1 771.1 766.7 764.9 758.6 765.7 775.5 774.3 780.6 794.7
Imports................................ 2,768.6 2,883.2 2,789.0 2,735.8 2,761.7 2,767.8 2,767.0 2,777.9 2,856.4 2,903.9 2,878.1 2,894.2 2,827.3 2,811.0 2,787.4 2,730.2 2,692.8 2,703.4 2,741.3 2,805.8 2,878.4 2,886.1
Goods................................ 2,301.5 2,396.1 2,290.5 2,224.2 2,300.1 2,303.3 2,299.2 2,303.3 2,377.9 2,416.8 2,390.7 2,398.9 2,335.4 2,313.5 2,285.0 2,228.1 2,189.3 2,197.4 2,225.2 2,285.1 2,353.0 2,354.2
Services............................. 467.1 487.1 498.5 511.6 461.6 464.5 467.8 474.7 478.6 487.2 487.4 495.3 491.9 497.5 502.4 502.1 503.5 506.0 516.1 520.7 525.5 531.9
Government consumption expenditures and
gross investment........................ 3,116.1 3,157.0 3,218.9 3,267.8 3,120.7 3,113.4 3,112.3 3,117.7 3,126.9 3,146.6 3,178.2 3,176.5 3,176.2 3,219.8 3,235.0 3,244.7 3,248.3 3,261.5 3,274.6 3,286.8 3,320.2 3,339.6
Federal................................ 1,229.5 1,218.1 1,224.0 1,231.5 1,245.3 1,231.4 1,220.2 1,220.9 1,216.6 1,215.5 1,228.3 1,212.2 1,218.7 1,224.9 1,222.6 1,229.9 1,227.9 1,228.2 1,234.6 1,235.4 1,244.3 1,256.5
National defense..................... 767.0 745.6 731.6 728.9 779.6 770.0 759.3 759.0 748.8 747.4 753.6 732.7 731.7 735.0 726.8 732.8 728.9 726.9 732.3 727.6 730.2 742.1
Consumption expenditures........... 613.7 600.0 588.2 585.2 625.1 618.4 605.3 606.1 604.7 600.1 607.7 587.4 590.6 591.0 584.2 587.1 584.2 583.9 589.3 583.2 581.6 586.2
Gross investment................... 153.3 145.6 143.4 143.7 154.5 151.6 154.0 152.9 144.1 147.3 145.9 145.3 141.1 144.0 142.5 145.7 144.7 143.0 143.0 144.4 148.6 155.8
Nondefense........................... 462.5 472.5 492.4 502.6 465.7 461.5 460.9 461.9 467.8 468.0 474.7 479.5 487.0 489.9 495.8 497.1 499.0 501.3 502.3 507.8 514.1 514.5
Consumption expenditures........... 347.3 354.5 371.8 379.4 349.3 346.6 346.2 347.0 351.3 350.6 356.6 359.4 366.7 369.2 374.8 376.5 377.3 378.6 378.9 382.7 386.3 387.4
Gross investment................... 115.2 118.0 120.6 123.3 116.4 114.9 114.7 114.8 116.5 117.5 118.2 120.1 120.2 120.8 121.0 120.6 121.7 122.8 123.4 125.1 127.8 127.1
State and local........................ 1,886.6 1,938.9 1,994.9 2,036.3 1,875.4 1,882.0 1,892.1 1,896.8 1,910.3 1,931.2 1,949.9 1,964.2 1,957.5 1,994.8 2,012.5 2,014.8 2,020.4 2,033.3 2,040.0 2,051.4 2,075.9 2,083.1
Consumption expenditures............. 1,562.7 1,608.2 1,650.8 1,693.6 1,554.9 1,558.2 1,565.9 1,571.8 1,587.6 1,601.1 1,617.0 1,627.2 1,622.9 1,646.2 1,660.5 1,673.5 1,668.3 1,689.4 1,704.4 1,712.2 1,733.4 1,743.7
Gross investment..................... 323.9 330.7 344.1 342.7 320.5 323.8 326.2 325.0 322.7 330.1 332.9 337.0 334.6 348.6 352.0 341.3 352.1 343.9 335.6 339.2 342.5 339.4
Addenda:
Gross domestic income (GDI)............ 16,829.5 17,657.5 18,376.6 18,771.6 16,635.8 16,752.6 16,867.8 17,061.6 17,199.1 17,538.6 17,827.9 18,064.6 18,147.7 18,356.7 18,447.2 18,554.9 18,551.3 18,670.9 18,924.4 18,939.9 19,157.9 ---
Average of GDP and GDI................. 16,760.5 17,542.6 18,248.7 18,698.1 16,555.6 16,647.0 16,808.6 17,030.7 17,115.2 17,429.7 17,725.1 17,900.3 18,011.2 18,225.0 18,337.5 18,421.0 18,438.3 18,604.5 18,826.7 18,922.7 19,107.8 ---
Final sales of domestic product........ 16,599.1 17,349.6 18,008.8 18,589.4 16,411.8 16,476.8 16,623.8 16,883.9 16,987.5 17,238.2 17,523.7 17,649.1 17,726.1 17,975.1 18,122.0 18,211.8 18,283.0 18,525.9 18,712.7 18,836.1 19,057.8 19,229.3
Gross domestic purchases............... 17,183.5 17,937.1 18,644.8 19,145.7 16,995.0 17,056.1 17,242.3 17,440.8 17,547.8 17,833.6 18,111.4 18,255.7 18,412.9 18,600.3 18,758.5 18,807.3 18,851.4 19,039.6 19,222.0 19,469.9 19,640.5 19,794.0
Final sales to domestic purchasers..... 17,091.1 17,859.1 18,532.8 19,110.6 16,931.3 16,991.6 17,116.7 17,324.8 17,503.9 17,750.9 18,012.8 18,168.9 18,264.3 18,482.2 18,652.8 18,731.9 18,809.2 19,027.4 19,205.5 19,400.4 19,640.7 19,796.6
Final sales to private domestic
purchasers............................ 13,975.1 14,702.1 15,313.9 15,842.8 13,810.6 13,878.1 14,004.4 14,207.1 14,377.0 14,604.3 14,834.6 14,992.5 15,088.1 15,262.4 15,417.8 15,487.2 15,560.9 15,765.9 15,930.9 16,113.6 16,320.4 16,457.0
Gross domestic product................. 16,691.5 17,427.6 18,120.7 18,624.5 16,475.4 16,541.4 16,749.3 16,999.9 17,031.3 17,320.9 17,622.3 17,735.9 17,874.7 18,093.2 18,227.7 18,287.2 18,325.2 18,538.0 18,729.1 18,905.5 19,057.7 19,226.7
Plus: Income receipts from the rest of
the world............................. 825.5 847.2 812.9 844.3 812.7 826.9 826.3 836.3 840.4 843.0 858.1 847.2 814.6 823.1 822.0 791.9 802.8 843.8 848.4 882.1 895.9 ---
Less: Income payments to the rest of
the world............................. 581.3 612.6 608.4 647.2 585.9 582.2 574.0 583.0 599.2 612.6 612.6 626.1 597.6 630.4 630.4 575.1 626.7 648.8 660.1 653.1 681.7 ---
Equals: Gross national product......... 16,935.8 17,662.1 18,325.2 18,821.6 16,702.2 16,786.0 17,001.6 17,253.3 17,272.5 17,551.3 17,867.7 17,957.0 18,091.6 18,285.9 18,419.3 18,504.1 18,501.3 18,733.0 18,917.5 19,134.5 19,272.0 ---
Net domestic product................... 14,062.6 14,679.6 15,279.2 15,707.8 13,889.0 13,926.4 14,108.7 14,326.4 14,325.2 14,589.0 14,859.6 14,944.4 15,063.0 15,263.6 15,373.3 15,416.8 15,444.2 15,629.7 15,801.5 15,955.6 16,071.5 16,205.4
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
See 'Explanatory Note' at the end of the tables.
Source: U.S. Bureau of Economic Analysis
Table 3B. Real Gross Domestic Product and Related Measures
[Billions of chained (2009) dollars]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 --------------------------------------------------------------Seasonally adjusted at annual rates--------------------------------------------------------------
---------------2013--------------- ---------------2014--------------- ---------------2015--------------- ---------------2016--------------- ------2017------
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product (GDP)....... 15,612.2 16,013.3 16,471.5 16,716.2 15,491.9 15,521.6 15,641.3 15,793.9 15,757.6 15,935.8 16,139.5 16,220.2 16,350.0 16,460.9 16,527.6 16,547.6 16,571.6 16,663.5 16,778.1 16,851.4 16,903.2 17,010.7
Personal consumption expenditures........ 10,565.4 10,868.4 11,264.3 11,572.1 10,502.3 10,523.9 10,573.1 10,662.2 10,713.4 10,805.1 10,909.9 11,045.2 11,145.3 11,227.9 11,304.6 11,379.3 11,430.5 11,537.7 11,618.1 11,702.1 11,758.0 11,839.7
Goods.................................. 3,613.5 3,753.5 3,927.3 4,072.2 3,582.9 3,594.3 3,620.5 3,656.3 3,677.9 3,733.5 3,774.8 3,827.8 3,867.2 3,910.2 3,952.0 3,979.9 4,000.4 4,059.1 4,090.8 4,138.4 4,145.4 4,193.1
Durable goods........................ 1,312.7 1,403.1 1,511.8 1,595.1 1,297.1 1,303.9 1,316.9 1,332.9 1,350.9 1,393.6 1,419.6 1,448.2 1,475.6 1,506.3 1,524.9 1,540.6 1,544.4 1,576.2 1,611.9 1,647.9 1,647.3 1,672.7
Motor vehicles and parts........... 375.7 398.7 426.0 438.5 377.8 375.0 373.2 376.9 384.3 397.7 403.1 409.5 418.6 430.3 429.9 425.4 421.6 429.2 444.5 458.4 447.0 445.0
Furnishings and durable household
equipment......................... 305.8 331.3 359.0 384.7 298.2 301.8 309.7 313.6 316.3 329.8 335.9 343.0 348.3 355.0 362.7 370.0 374.6 382.7 388.2 393.4 397.8 405.6
Recreational goods and vehicles.... 452.0 485.9 529.2 577.2 441.0 449.0 456.9 461.0 466.2 478.7 493.2 505.4 513.8 522.1 533.1 547.9 555.0 571.9 583.1 598.6 613.8 633.4
Other durable goods................ 188.3 198.5 211.9 217.8 186.9 186.8 187.7 191.8 194.0 197.5 199.3 203.3 207.5 210.7 213.5 216.0 214.7 216.4 219.0 220.9 219.3 224.5
Nondurable goods..................... 2,316.1 2,373.0 2,446.8 2,514.3 2,300.4 2,305.4 2,319.2 2,339.6 2,344.8 2,362.0 2,379.4 2,405.7 2,420.2 2,435.2 2,459.2 2,472.5 2,488.6 2,517.5 2,517.9 2,533.2 2,540.2 2,564.3
Food and beverages purchased for
off-premises consumption.......... 795.2 805.8 810.2 832.4 796.4 789.4 793.2 801.6 805.5 804.6 805.8 807.2 809.5 808.8 810.6 812.1 818.9 831.5 835.2 844.1 846.6 847.9
Clothing and footwear.............. 344.9 356.1 369.7 378.7 342.3 346.1 344.8 346.3 347.2 354.1 357.2 365.8 365.8 368.8 371.1 373.2 374.0 378.9 380.3 381.6 378.0 386.5
Gasoline and other energy goods.... 275.5 273.2 285.6 289.0 272.2 275.6 276.5 277.6 274.6 270.8 270.7 276.5 282.2 283.7 288.1 288.6 293.5 289.5 287.3 285.8 281.5 285.4
Other nondurable goods............. 908.2 949.5 993.0 1,025.9 897.4 901.4 912.1 922.0 926.9 944.4 958.4 968.3 974.3 985.6 1,001.4 1,010.6 1,014.8 1,029.2 1,026.6 1,032.9 1,044.8 1,055.6
Services............................... 6,951.3 7,115.5 7,340.1 7,507.3 6,918.6 6,929.0 6,952.2 7,005.6 7,035.3 7,072.3 7,135.9 7,218.7 7,279.6 7,320.6 7,356.7 7,403.7 7,434.7 7,485.7 7,534.9 7,573.8 7,621.0 7,657.7
Household consumption expenditures
(for services)...................... 6,651.4 6,818.2 7,039.8 7,191.1 6,616.4 6,628.9 6,654.3 6,706.1 6,739.3 6,772.9 6,838.0 6,922.7 6,989.7 7,025.1 7,053.6 7,090.9 7,122.5 7,172.0 7,215.2 7,254.6 7,299.2 7,335.4
Housing and utilities.............. 1,937.9 1,965.3 1,998.8 2,025.2 1,936.1 1,937.0 1,932.6 1,945.9 1,969.1 1,958.1 1,956.9 1,977.1 1,997.1 1,993.0 2,002.6 2,002.4 2,010.4 2,024.5 2,035.3 2,030.7 2,028.9 2,043.2
Health care........................ 1,734.9 1,787.5 1,878.5 1,949.1 1,717.9 1,731.1 1,738.0 1,752.4 1,743.9 1,769.5 1,801.8 1,834.7 1,859.0 1,868.7 1,886.7 1,899.7 1,920.5 1,946.4 1,951.7 1,977.9 1,988.1 2,002.8
Transportation services............ 308.8 326.4 340.5 353.1 304.6 308.3 311.9 310.5 320.3 323.5 330.0 331.8 335.2 339.1 340.9 346.8 349.6 350.4 354.9 357.4 359.1 360.6
Recreation services................ 404.1 413.5 423.5 432.4 403.1 398.4 406.0 408.8 413.9 409.1 413.8 417.3 419.3 422.5 422.1 430.1 429.8 429.0 434.0 436.9 441.6 440.9
Food services and accommodations... 652.5 673.9 702.7 719.8 653.2 646.8 649.5 660.5 658.9 669.8 678.2 688.9 690.9 702.4 705.2 712.1 713.0 720.1 723.0 723.1 727.8 725.1
Financial services and insurance... 707.4 719.3 740.6 728.7 702.6 706.3 707.2 713.7 711.8 714.4 723.1 727.8 736.7 744.0 740.7 741.0 728.9 724.8 729.3 731.8 745.5 751.6
Other services..................... 907.0 933.8 957.3 990.2 900.4 902.1 910.2 915.4 923.1 930.1 935.3 946.9 953.4 956.6 957.6 961.8 976.2 984.4 994.6 1,005.7 1,015.5 1,018.5
Final consumption expenditures of
nonprofit institutions serving
households.......................... 300.8 297.6 300.3 316.5 303.3 301.0 298.6 300.2 296.3 299.8 298.2 295.9 289.7 295.4 303.2 313.0 312.4 314.0 320.0 319.5 322.1 322.5
Gross output of nonprofit
institutions...................... 1,139.7 1,155.6 1,190.1 1,229.2 1,130.7 1,138.9 1,139.0 1,150.2 1,133.5 1,148.0 1,162.0 1,179.0 1,182.7 1,184.5 1,190.8 1,202.5 1,210.3 1,225.5 1,233.2 1,247.9 1,252.9 1,258.8
Less: Receipts from sales of goods
and services by nonprofit
institutions...................... 839.6 858.2 889.8 912.8 828.5 838.7 840.9 850.4 837.6 848.6 863.9 882.8 892.6 889.0 887.7 889.7 898.0 911.6 913.3 928.5 930.8 936.4
Gross private domestic investment........ 2,616.5 2,761.7 2,905.4 2,858.3 2,543.0 2,574.3 2,656.8 2,692.0 2,652.5 2,750.6 2,826.4 2,817.3 2,905.4 2,911.3 2,925.5 2,879.2 2,849.8 2,830.2 2,847.2 2,905.7 2,897.0 2,911.5
Fixed investment....................... 2,521.4 2,677.3 2,782.7 2,803.4 2,482.7 2,508.8 2,526.7 2,567.2 2,599.4 2,663.0 2,722.5 2,724.2 2,751.5 2,783.4 2,806.6 2,789.4 2,787.8 2,797.5 2,808.2 2,820.3 2,875.7 2,891.4
Nonresidential....................... 2,032.9 2,172.7 2,223.5 2,210.4 2,006.7 2,019.0 2,029.6 2,076.3 2,112.6 2,160.6 2,215.1 2,202.4 2,214.7 2,230.7 2,238.8 2,209.9 2,187.5 2,205.3 2,224.0 2,224.9 2,263.6 2,292.4
Structures......................... 428.8 474.0 465.4 446.4 412.0 422.3 439.3 441.6 463.5 477.0 474.9 480.5 477.9 483.3 463.8 436.7 439.1 439.7 454.6 452.1 468.0 473.6
Equipment.......................... 982.3 1,047.4 1,084.5 1,047.8 972.7 979.6 966.6 1,010.5 1,012.6 1,039.1 1,085.8 1,052.3 1,073.2 1,075.3 1,101.3 1,088.3 1,050.7 1,049.0 1,043.4 1,048.0 1,059.4 1,080.4
Information processing
equipment....................... 317.7 329.6 343.9 350.2 317.5 319.6 317.8 316.1 320.3 332.5 329.4 336.3 334.9 338.5 350.1 352.2 343.7 347.9 353.4 355.9 362.9 373.6
Computers and peripheral
equipment..................... 88.5 90.2 87.1 84.0 91.4 85.7 86.6 90.2 87.0 91.5 90.6 91.9 86.5 87.3 89.8 84.7 83.7 84.4 84.2 83.6 84.3 93.6
Other.......................... 228.9 238.9 256.2 265.6 225.9 233.3 230.7 225.6 232.7 240.6 238.3 243.9 247.8 250.6 259.6 266.8 259.3 262.8 268.5 271.7 278.0 279.3
Industrial equipment............. 196.7 205.0 207.3 212.1 200.1 195.8 197.7 193.2 199.2 205.9 212.0 202.9 203.0 208.1 207.2 210.8 208.1 211.7 212.9 215.8 219.9 225.9
Transportation equipment......... 243.0 271.3 299.5 277.6 228.8 244.6 238.9 259.5 258.2 267.6 285.2 274.4 296.0 293.3 309.7 299.1 282.8 283.4 273.3 270.8 268.9 268.4
Other equipment.................. 230.4 246.9 240.4 216.9 231.4 225.4 217.8 247.1 240.3 239.0 263.4 244.9 245.1 241.4 241.4 233.9 224.1 214.7 213.6 215.3 218.2 223.8
Intellectual property products..... 624.5 653.1 677.8 720.4 625.2 620.1 625.5 627.2 637.9 645.8 657.8 670.9 666.1 674.1 678.9 692.2 702.8 721.5 729.0 728.3 738.6 741.2
Software......................... 295.5 318.8 336.7 360.4 295.9 290.3 296.2 299.5 307.2 316.4 324.7 326.9 331.7 335.0 337.1 342.8 350.6 359.3 364.9 366.8 371.1 372.9
Research and development......... 254.1 260.5 264.2 281.5 254.2 254.3 254.6 253.2 256.9 256.3 259.9 269.0 259.1 262.6 264.2 271.1 274.3 284.5 285.2 282.2 287.6 289.6
Entertainment, literary, and
artistic originals.............. 75.2 74.6 78.7 80.4 75.4 75.5 74.9 75.0 74.3 74.1 74.4 75.8 77.2 78.3 79.5 79.9 79.8 79.3 80.8 81.6 82.0 80.7
Residential.......................... 488.3 505.2 556.9 587.4 475.9 489.5 496.8 491.1 487.6 503.0 508.5 521.8 536.1 551.1 565.2 575.3 593.7 586.5 579.8 589.8 605.5 594.9
Change in private inventories.......... 78.7 67.8 100.5 33.4 49.6 52.6 109.0 103.6 38.7 69.9 85.6 76.9 132.2 105.6 96.2 68.2 40.6 12.2 17.6 63.1 1.2 -0.3
Farm................................. 6.0 -3.3 0.2 -0.6 0.2 5.0 8.8 9.9 -4.8 -3.5 -2.0 -2.8 2.3 0.5 0.6 -2.6 -2.6 2.6 0.8 -2.9 2.7 -2.1
Nonfarm.............................. 73.0 74.0 102.8 34.5 50.7 47.3 100.4 93.4 45.8 76.5 90.6 82.9 133.0 107.8 97.7 72.5 44.6 9.4 17.1 66.8 -1.8 1.9
Net exports of goods and services........ -404.9 -427.7 -545.3 -586.3 -414.4 -421.1 -416.1 -368.1 -411.0 -426.2 -416.7 -456.9 -524.1 -526.2 -559.3 -571.5 -584.2 -572.4 -557.3 -631.1 -622.2 -614.9
Exports................................ 2,031.5 2,118.4 2,127.1 2,120.1 1,991.1 2,015.5 2,031.0 2,088.6 2,075.8 2,121.8 2,125.1 2,150.8 2,126.4 2,145.8 2,124.1 2,111.9 2,098.1 2,112.5 2,145.3 2,124.4 2,162.3 2,183.9
Goods................................ 1,385.7 1,448.9 1,443.1 1,447.5 1,350.5 1,372.3 1,384.2 1,435.7 1,413.5 1,450.0 1,457.9 1,474.2 1,441.6 1,460.6 1,442.2 1,428.2 1,429.2 1,439.1 1,467.2 1,454.5 1,492.3 1,502.7
Services............................. 645.7 669.3 683.2 672.8 640.7 643.1 646.6 652.6 662.0 671.6 667.1 676.5 684.1 684.9 681.3 682.6 668.8 673.3 678.5 670.6 672.2 682.9
Imports................................ 2,436.4 2,546.1 2,672.4 2,706.3 2,405.5 2,436.6 2,447.1 2,456.6 2,486.8 2,548.0 2,541.8 2,607.7 2,650.5 2,672.0 2,683.4 2,683.5 2,682.3 2,684.9 2,702.6 2,755.5 2,784.5 2,798.8
Goods................................ 1,995.4 2,093.1 2,201.1 2,220.0 1,968.0 1,996.1 2,004.7 2,012.8 2,041.3 2,095.2 2,089.6 2,146.1 2,187.3 2,203.8 2,207.7 2,205.8 2,203.2 2,204.6 2,211.4 2,260.7 2,286.7 2,298.1
Services............................. 439.9 451.2 469.3 484.0 436.5 439.3 441.2 442.6 443.9 450.9 450.3 459.7 461.3 466.3 473.7 475.7 477.0 478.2 488.6 492.4 495.5 498.4
Government consumption expenditures and
gross investment........................ 2,857.6 2,839.1 2,878.5 2,900.2 2,880.6 2,866.2 2,852.0 2,831.5 2,827.2 2,834.7 2,849.5 2,845.0 2,855.7 2,879.9 2,888.3 2,890.2 2,903.2 2,896.3 2,899.9 2,901.2 2,896.6 2,901.6
Federal................................ 1,142.8 1,115.0 1,114.1 1,114.6 1,166.1 1,150.5 1,135.5 1,119.1 1,118.1 1,113.7 1,122.1 1,106.1 1,110.3 1,115.1 1,112.0 1,118.9 1,114.6 1,112.1 1,116.5 1,115.2 1,108.4 1,114.6
National defense..................... 715.7 686.8 672.0 667.0 731.1 721.2 709.0 701.5 691.8 689.0 693.1 673.5 671.8 675.2 667.4 673.4 668.9 665.4 669.6 664.1 658.6 667.0
Consumption expenditures........... 569.8 549.5 537.2 531.6 583.0 576.5 562.4 557.2 556.1 550.1 555.4 536.6 539.2 539.6 533.6 536.5 532.6 530.8 534.9 528.3 519.5 521.8
Gross investment................... 145.7 137.0 134.5 135.1 147.8 144.5 146.4 144.1 135.4 138.6 137.4 136.7 132.2 135.4 133.6 136.7 136.1 134.4 134.4 135.7 139.1 145.5
Nondefense........................... 427.0 427.9 441.6 447.0 435.0 429.2 426.4 417.6 426.1 424.5 428.8 432.2 438.0 439.5 444.0 445.0 445.1 446.1 446.4 450.3 449.0 446.9
Consumption expenditures........... 318.6 318.5 330.2 333.5 324.6 320.8 318.6 310.5 317.9 315.6 319.4 321.2 326.9 327.8 332.4 333.7 332.9 333.0 332.7 335.4 332.5 331.5
Gross investment................... 108.4 109.4 111.3 113.4 110.3 108.4 107.7 107.1 108.2 108.9 109.4 111.1 111.1 111.6 111.5 111.1 112.2 113.0 113.6 115.0 116.7 115.5
State and local........................ 1,714.1 1,723.0 1,762.8 1,783.6 1,714.1 1,715.2 1,715.7 1,711.5 1,708.2 1,719.9 1,726.4 1,737.4 1,743.9 1,763.1 1,774.4 1,769.7 1,786.6 1,782.3 1,781.6 1,784.1 1,786.2 1,785.1
Consumption expenditures............. 1,414.4 1,423.3 1,453.9 1,478.2 1,415.1 1,414.6 1,414.4 1,413.3 1,414.0 1,420.1 1,425.5 1,433.6 1,442.1 1,450.2 1,459.4 1,463.8 1,470.6 1,476.1 1,482.9 1,483.4 1,485.1 1,488.5
Gross investment..................... 298.9 298.8 308.1 304.4 298.2 299.8 300.5 297.3 293.3 298.9 300.0 303.0 301.0 312.2 314.2 305.0 315.2 305.2 297.6 299.6 300.0 295.5
Residual................................. -46.3 -69.5 -82.1 -101.9 -48.0 -47.5 -44.1 -45.3 -57.6 -67.6 -74.1 -78.6 -76.8 -77.3 -84.2 -90.2 -91.0 -99.9 -106.4 -110.1 -113.8 -128.1
Addenda:
Gross domestic income (GDI)\1\......... 15,741.2 16,224.6 16,704.1 16,848.2 15,642.7 15,719.8 15,752.0 15,851.3 15,912.8 16,136.1 16,327.9 16,520.8 16,599.6 16,700.6 16,726.7 16,789.8 16,776.1 16,783.0 16,953.0 16,882.1 16,992.1 ---
Average of GDP and GDI................. 15,676.7 16,118.9 16,587.8 16,782.2 15,567.3 15,620.7 15,696.7 15,822.6 15,835.2 16,035.9 16,233.7 16,370.5 16,474.8 16,580.8 16,627.1 16,668.7 16,673.8 16,723.2 16,865.6 16,866.8 16,947.7 ---
Final sales of domestic product........ 15,521.1 15,932.9 16,354.3 16,664.1 15,434.3 15,459.1 15,516.6 15,674.3 15,707.4 15,852.3 16,040.3 16,131.6 16,202.3 16,338.6 16,414.1 16,462.1 16,512.7 16,632.6 16,741.1 16,770.0 16,883.5 16,992.1
Gross domestic purchases............... 16,016.9 16,441.8 17,017.2 17,301.6 15,906.2 15,943.5 16,057.8 16,160.2 16,169.0 16,363.3 16,556.6 16,678.5 16,875.2 16,988.0 17,086.9 17,118.7 17,154.8 17,236.2 17,336.7 17,478.6 17,521.6 17,622.4
Final sales to domestic purchasers..... 15,926.3 16,361.9 16,900.4 17,250.3 15,849.1 15,881.4 15,933.6 16,041.1 16,119.2 16,280.3 16,457.9 16,590.3 16,727.8 16,866.2 16,973.9 17,033.8 17,096.6 17,206.1 17,300.6 17,397.7 17,502.7 17,604.7
Final sales to private domestic
purchasers............................ 13,076.3 13,532.7 14,033.4 14,362.7 12,975.3 13,022.4 13,089.4 13,218.3 13,301.0 13,455.2 13,618.4 13,756.1 13,883.3 13,997.6 14,097.2 14,155.4 14,205.3 14,322.3 14,413.5 14,509.8 14,619.9 14,717.4
Gross domestic product................. 15,612.2 16,013.3 16,471.5 16,716.2 15,491.9 15,521.6 15,641.3 15,793.9 15,757.6 15,935.8 16,139.5 16,220.2 16,350.0 16,460.9 16,527.6 16,547.6 16,571.6 16,663.5 16,778.1 16,851.4 16,903.2 17,010.7
Plus: Income receipts from the rest of
the world............................. 701.5 708.6 678.7 697.4 693.8 704.7 701.3 706.1 706.2 705.6 715.7 706.7 683.0 687.7 684.8 659.1 668.1 698.5 699.5 723.7 731.1 ---
Less: Income payments to the rest of
the world............................. 494.2 511.6 505.9 532.2 500.3 496.5 487.5 492.3 503.1 512.1 510.1 521.0 499.0 524.6 523.2 477.0 519.0 534.5 541.7 533.6 551.9 ---
Equals: Gross national product......... 15,822.2 16,211.5 16,642.8 16,879.0 15,686.8 15,732.6 15,858.4 16,010.8 15,962.9 16,130.3 16,347.1 16,405.8 16,533.7 16,621.7 16,686.7 16,729.2 16,717.1 16,825.0 16,932.8 17,041.1 17,081.0 ---
Net domestic product................... 13,100.0 13,442.1 13,836.0 14,019.2 12,999.9 13,015.9 13,122.6 13,261.5 13,211.1 13,373.4 13,560.0 13,624.0 13,738.1 13,833.5 13,884.2 13,888.2 13,895.7 13,972.6 14,073.7 14,134.7 14,174.8 14,269.9
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. Gross domestic income is current-dollar gross domestic income deflated by the implicit price deflator for gross domestic product.
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.
Source: U.S. Bureau of Economic Analysis
Table 4. Price Indexes for Gross Domestic Product and Related Measures: Percent Change From Preceding Period
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 -----------------------------------------Seasonally adjusted at annual rates-----------------------------------------
2013 -------------2014------------- -------------2015------------- -------------2016------------- -----2017-----
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product (GDP)..... 1.6 1.8 1.1 1.3 2.1 1.6 2.2 1.9 0.6 -0.1 2.2 1.4 0.8 0.3 2.4 1.4 2.0 2.0 1.0
Personal consumption expenditures...... 1.3 1.5 0.3 1.2 1.7 2.1 1.8 1.2 -0.3 -1.6 1.7 1.3 0.2 0.6 2.1 1.7 2.0 2.2 0.3
Goods................................ -0.5 -0.3 -2.9 -1.4 0.0 0.9 0.1 -0.7 -4.2 -7.6 1.0 -0.5 -3.4 -3.4 0.2 -0.6 1.3 2.7 -3.6
Durable goods...................... -1.9 -2.3 -2.1 -2.2 -2.1 -2.4 -2.2 -1.9 -3.1 -2.5 -0.9 -2.0 -2.1 -1.3 -2.8 -3.5 -3.2 1.0 -3.4
Nondurable goods................... 0.1 0.7 -3.3 -1.1 1.0 2.6 1.2 -0.2 -4.8 -10.0 2.0 0.2 -4.0 -4.4 1.8 1.0 3.7 3.6 -3.6
Services............................. 2.3 2.5 1.9 2.5 2.7 2.7 2.7 2.2 1.8 1.5 2.0 2.2 1.9 2.6 3.0 2.9 2.3 2.0 2.1
Gross private domestic investment...... 1.5 2.1 0.8 0.5 1.9 2.9 1.2 2.6 2.1 0.0 -0.4 0.7 -0.2 -0.4 1.7 1.0 1.7 1.7 2.3
Fixed investment..................... 1.6 2.3 1.1 0.6 2.3 3.1 1.2 2.6 2.2 0.8 -0.3 0.9 0.1 -0.2 1.5 1.2 1.6 1.6 2.4
Nonresidential..................... 0.8 1.3 0.6 -0.3 1.0 1.7 1.2 1.4 1.4 0.8 -0.4 0.3 -0.6 -0.9 0.2 -0.3 0.6 1.5 1.8
Structures....................... 2.1 4.9 1.8 0.1 4.8 5.7 5.0 5.7 4.8 0.3 -1.5 1.5 -0.4 -2.0 2.8 -0.3 2.3 3.1 3.8
Equipment........................ 0.2 -0.1 -0.1 -0.1 -1.8 0.1 0.7 0.0 0.2 0.2 -0.7 -0.8 -0.3 0.1 -0.1 0.9 -0.4 0.7 0.8
Intellectual property products... 0.8 1.0 0.9 -0.7 2.7 1.3 -0.8 0.2 0.7 2.3 1.1 1.1 -1.1 -1.5 -1.0 -1.9 1.0 1.6 1.8
Residential........................ 5.0 6.1 2.7 3.7 7.6 8.7 1.1 7.5 5.3 0.5 0.1 3.3 2.6 2.4 5.9 6.4 4.8 1.7 4.1
Change in private inventories........ --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Net exports of goods and services...... --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Exports.............................. 0.1 0.0 -5.0 -1.9 -0.3 3.0 -0.1 -1.0 -7.0 -9.6 -1.0 -4.1 -5.9 -5.2 3.8 2.2 2.7 2.5 0.0
Goods.............................. -0.7 -1.0 -7.1 -3.7 -1.7 3.2 -1.3 -2.5 -9.7 -12.6 -2.1 -6.1 -8.0 -10.2 5.3 2.4 1.9 2.6 -0.4
Services........................... 1.8 2.1 -0.5 1.7 2.9 2.5 2.6 2.3 -1.1 -3.2 1.1 -0.2 -1.6 5.0 1.1 2.0 4.2 2.3 0.8
Imports.............................. -0.9 -0.3 -7.8 -3.1 0.0 6.4 -3.1 -2.6 -7.7 -14.7 -5.4 -4.9 -8.0 -5.2 1.2 3.0 1.6 6.2 -1.0
Goods.............................. -1.3 -0.7 -9.1 -3.7 -0.9 7.3 -3.9 -3.2 -8.9 -16.7 -6.5 -5.5 -9.3 -6.3 1.2 3.9 1.8 7.4 -1.8
Services........................... 1.3 1.7 -1.6 -0.5 4.7 2.1 0.8 0.7 -1.8 -4.1 0.2 -2.4 -1.9 0.0 1.0 -0.7 0.5 1.1 2.6
Government consumption expenditures
and gross investment.................. 1.6 2.0 0.6 0.8 3.7 1.8 1.5 1.9 0.4 -1.5 2.1 0.7 0.9 -1.3 2.6 1.1 1.3 4.8 1.7
Federal.............................. 1.0 1.6 0.6 0.6 6.3 -1.0 1.2 1.2 0.5 0.6 0.3 0.3 -0.1 0.9 1.0 0.5 0.8 5.5 1.7
National defense................... 0.7 1.3 0.3 0.4 4.2 0.1 0.9 0.9 0.3 0.4 -0.2 0.1 -0.3 0.6 1.0 0.5 0.7 4.9 1.3
Nondefense......................... 1.6 2.0 1.0 0.8 9.8 -3.0 1.8 1.7 0.8 0.9 1.1 0.7 0.2 1.4 1.1 0.5 0.8 6.3 2.2
State and local...................... 1.9 2.2 0.6 0.9 2.0 3.7 1.6 2.4 0.4 -2.8 3.2 1.0 1.5 -2.7 3.6 1.5 1.7 4.4 1.6
Addenda:
Final sales of domestic product...... 1.6 1.8 1.1 1.3 2.2 1.6 2.2 1.9 0.6 0.0 2.3 1.4 0.8 0.3 2.4 1.4 2.0 2.0 1.0
Gross domestic purchases............. 1.4 1.7 0.4 1.0 2.1 2.2 1.6 1.5 0.2 -1.3 1.4 1.1 0.2 0.1 2.1 1.5 1.8 2.6 0.8
Final sales to domestic purchasers... 1.4 1.7 0.5 1.0 2.2 2.2 1.6 1.5 0.2 -1.2 1.5 1.1 0.3 0.2 2.1 1.6 1.8 2.5 0.8
Final sales to private domestic
purchasers.......................... 1.4 1.7 0.4 1.1 1.8 2.3 1.7 1.4 0.2 -1.1 1.3 1.2 0.2 0.5 2.0 1.6 1.9 2.1 0.7
Gross national product (GNP)......... 1.6 1.8 1.1 1.3 2.1 1.6 2.2 1.9 0.6 -0.2 2.2 1.4 0.8 0.3 2.4 1.4 2.0 2.0 ---
Implicit price deflators:
GDP................................ 1.6 1.8 1.1 1.3 2.1 1.7 2.3 1.8 0.6 -0.1 2.2 1.4 0.8 0.2 2.4 1.4 2.0 2.0 1.0
Gross domestic purchases........... 1.4 1.7 0.4 1.0 2.1 2.3 1.7 1.5 0.2 -1.3 1.4 1.1 0.3 0.1 2.1 1.5 1.9 2.5 0.8
GNP................................ 1.6 1.8 1.1 1.3 2.1 1.7 2.3 1.8 0.6 -0.1 2.2 1.4 0.8 0.2 2.4 1.4 2.0 1.9 ---
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
See 'Explanatory Note' at the end of the tables.
Source: U.S. Bureau of Economic Analysis
Table 4A. Price Indexes for Gross Domestic Product and Related Measures: Percent Change From Preceding Period
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 -------------------------------------Seasonally adjusted at annual rates-------------------------------------
2013 -------------2014------------- -------------2015------------- -------------2016------------- 2017
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product (GDP)..... 1.6 1.8 1.1 1.3 2.1 1.6 2.2 1.9 0.6 -0.1 2.2 1.4 0.8 0.3 2.4 1.4 2.0 2.0
Previously published........... 1.6 1.8 1.1 1.3 2.1 1.7 2.1 1.7 0.5 -0.1 2.3 1.3 0.8 0.5 2.3 1.4 2.1 1.9
Personal consumption expenditures...... 1.3 1.5 0.3 1.2 1.7 2.1 1.8 1.2 -0.3 -1.6 1.7 1.3 0.2 0.6 2.1 1.7 2.0 2.2
Previously published................. 1.3 1.5 0.3 1.1 1.7 2.0 1.9 1.1 0.0 -1.6 1.8 1.1 0.4 0.3 2.0 1.5 2.0 2.4
Goods................................ -0.5 -0.3 -2.9 -1.4 0.0 0.9 0.1 -0.7 -4.2 -7.6 1.0 -0.5 -3.4 -3.4 0.2 -0.6 1.3 2.7
Previously published............... -0.5 -0.4 -2.9 -1.4 0.0 0.6 0.2 -1.0 -3.5 -8.0 1.2 -0.9 -2.6 -4.0 0.8 -0.9 1.5 2.7
Durable goods...................... -1.9 -2.3 -2.1 -2.2 -2.1 -2.4 -2.2 -1.9 -3.1 -2.5 -0.9 -2.0 -2.1 -1.3 -2.8 -3.5 -3.2 1.0
Previously published............. -1.9 -2.3 -2.1 -2.1 -2.1 -2.4 -1.9 -2.3 -3.0 -2.2 -0.6 -2.6 -1.8 -0.9 -2.5 -4.1 -3.2 1.0
Nondurable goods................... 0.1 0.7 -3.3 -1.1 1.0 2.6 1.2 -0.2 -4.8 -10.0 2.0 0.2 -4.0 -4.4 1.8 1.0 3.7 3.6
Previously published............. 0.1 0.6 -3.3 -1.0 1.0 2.0 1.3 -0.3 -3.7 -10.8 2.2 0.0 -2.9 -5.6 2.5 0.8 4.0 3.6
Services............................. 2.3 2.5 1.9 2.5 2.7 2.7 2.7 2.2 1.8 1.5 2.0 2.2 1.9 2.6 3.0 2.9 2.3 2.0
Previously published............... 2.3 2.5 2.0 2.3 2.7 2.7 2.7 2.1 1.8 1.7 2.1 2.2 1.8 2.4 2.6 2.6 2.3 2.2
Gross private domestic investment...... 1.5 2.1 0.8 0.5 1.9 2.9 1.2 2.6 2.1 0.0 -0.4 0.7 -0.2 -0.4 1.7 1.0 1.7 1.7
Previously published................. 1.5 2.1 0.8 0.9 1.9 3.0 1.4 2.4 1.8 -0.1 -0.1 1.2 0.3 0.6 1.8 1.1 2.0 1.3
Fixed investment..................... 1.6 2.3 1.1 0.6 2.3 3.1 1.2 2.6 2.2 0.8 -0.3 0.9 0.1 -0.2 1.5 1.2 1.6 1.6
Previously published............... 1.6 2.3 1.0 1.1 2.3 3.2 1.4 2.4 1.7 0.5 -0.3 1.3 0.4 0.6 2.2 1.4 1.9 1.3
Nonresidential..................... 0.8 1.3 0.6 -0.3 1.0 1.7 1.2 1.4 1.4 0.8 -0.4 0.3 -0.6 -0.9 0.2 -0.3 0.6 1.5
Previously published............. 0.8 1.4 0.6 0.4 1.0 1.8 1.5 1.2 0.9 0.6 -0.3 0.8 -0.1 0.2 1.2 0.2 0.9 1.1
Structures....................... 2.1 4.9 1.8 0.1 4.8 5.7 5.0 5.7 4.8 0.3 -1.5 1.5 -0.4 -2.0 2.8 -0.3 2.3 3.1
Previously published........... 2.1 3.8 0.0 0.2 4.8 4.6 3.3 3.2 1.9 -2.3 -2.5 0.9 -0.2 -1.5 3.2 -0.6 2.6 2.6
Equipment........................ 0.2 -0.1 -0.1 -0.1 -1.8 0.1 0.7 0.0 0.2 0.2 -0.7 -0.8 -0.3 0.1 -0.1 0.9 -0.4 0.7
Previously published........... 0.2 0.4 0.8 0.2 -1.8 1.2 1.5 0.8 1.1 1.5 0.0 0.1 0.1 0.3 0.1 1.0 -0.3 0.5
Intellectual property products... 0.8 1.0 0.9 -0.7 2.7 1.3 -0.8 0.2 0.7 2.3 1.1 1.1 -1.1 -1.5 -1.0 -1.9 1.0 1.6
Previously published........... 0.8 1.0 0.8 0.9 2.7 0.8 0.1 0.4 -0.2 1.6 0.8 1.8 -0.2 1.3 1.4 -0.4 1.6 1.0
Residential........................ 5.0 6.1 2.7 3.7 7.6 8.7 1.1 7.5 5.3 0.5 0.1 3.3 2.6 2.4 5.9 6.4 4.8 1.7
Previously published............. 5.0 6.0 2.4 3.3 7.6 8.7 1.3 7.1 4.9 0.2 -0.1 2.9 2.2 2.0 5.6 5.2 5.3 1.7
Change in private inventories........ --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Net exports of goods and services...... --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Exports.............................. 0.1 0.0 -5.0 -1.9 -0.3 3.0 -0.1 -1.0 -7.0 -9.6 -1.0 -4.1 -5.9 -5.2 3.8 2.2 2.7 2.5
Previously published............... 0.1 0.1 -4.8 -1.8 -0.3 3.2 0.0 -1.0 -6.8 -9.2 -0.9 -4.0 -5.5 -5.1 3.9 2.4 2.6 2.8
Goods.............................. -0.7 -1.0 -7.1 -3.7 -1.7 3.2 -1.3 -2.5 -9.7 -12.6 -2.1 -6.1 -8.0 -10.2 5.3 2.4 1.9 2.6
Previously published............. -0.7 -0.9 -6.8 -3.5 -1.7 3.5 -1.1 -2.4 -9.5 -12.1 -1.8 -5.8 -7.8 -10.0 5.9 2.4 1.8 3.0
Services........................... 1.8 2.1 -0.5 1.7 2.9 2.5 2.6 2.3 -1.1 -3.2 1.1 -0.2 -1.6 5.0 1.1 2.0 4.2 2.3
Previously published............. 1.8 2.1 -0.5 1.6 2.9 2.4 2.3 2.3 -0.6 -3.2 0.8 -0.4 -1.1 4.8 0.4 2.4 4.2 2.4
Imports.............................. -0.9 -0.3 -7.8 -3.1 0.0 6.4 -3.1 -2.6 -7.7 -14.7 -5.4 -4.9 -8.0 -5.2 1.2 3.0 1.6 6.2
Previously published............... -0.9 -0.2 -7.6 -3.0 0.0 5.2 -1.6 -2.1 -7.0 -15.5 -4.8 -4.5 -7.6 -6.0 2.1 2.9 2.1 6.4
Goods.............................. -1.3 -0.7 -9.1 -3.7 -0.9 7.3 -3.9 -3.2 -8.9 -16.7 -6.5 -5.5 -9.3 -6.3 1.2 3.9 1.8 7.4
Previously published............. -1.3 -0.6 -8.9 -3.6 -0.9 5.9 -2.1 -2.7 -8.0 -17.8 -5.9 -5.0 -9.0 -7.3 2.5 3.7 2.4 7.6
Services........................... 1.3 1.7 -1.6 -0.5 4.7 2.1 0.8 0.7 -1.8 -4.1 0.2 -2.4 -1.9 0.0 1.0 -0.7 0.5 1.1
Previously published............. 1.3 1.7 -1.3 -0.5 4.7 1.9 1.3 0.9 -1.6 -3.7 0.7 -2.2 -1.3 -0.1 0.6 -0.8 0.8 1.2
Government consumption expenditures
and gross investment.................. 1.6 2.0 0.6 0.8 3.7 1.8 1.5 1.9 0.4 -1.5 2.1 0.7 0.9 -1.3 2.6 1.1 1.3 4.8
Previously published................. 1.6 2.0 0.3 1.0 3.7 1.8 1.9 2.0 0.0 -2.1 2.2 0.5 0.1 -0.4 2.7 2.1 2.1 4.1
Federal.............................. 1.0 1.6 0.6 0.6 6.3 -1.0 1.2 1.2 0.5 0.6 0.3 0.3 -0.1 0.9 1.0 0.5 0.8 5.5
Previously published............... 1.0 1.7 0.5 1.0 6.3 -0.7 1.6 1.5 0.2 0.2 0.9 0.0 -0.8 1.5 2.1 1.7 1.7 4.4
National defense................... 0.7 1.3 0.3 0.4 4.2 0.1 0.9 0.9 0.3 0.4 -0.2 0.1 -0.3 0.6 1.0 0.5 0.7 4.9
Previously published............. 0.7 1.4 0.2 0.8 4.2 0.4 1.1 1.2 -0.1 -0.3 0.8 -0.2 -0.9 0.9 2.1 1.6 1.5 4.2
Nondefense......................... 1.6 2.0 1.0 0.8 9.8 -3.0 1.8 1.7 0.8 0.9 1.1 0.7 0.2 1.4 1.1 0.5 0.8 6.3
Previously published............. 1.6 2.2 1.0 1.3 9.8 -2.6 2.3 2.0 0.7 0.9 1.1 0.3 -0.6 2.3 2.2 1.7 1.9 4.8
State and local...................... 1.9 2.2 0.6 0.9 2.0 3.7 1.6 2.4 0.4 -2.8 3.2 1.0 1.5 -2.7 3.6 1.5 1.7 4.4
Previously published............... 1.9 2.2 0.2 1.0 2.0 3.4 2.1 2.3 -0.1 -3.5 3.0 0.8 0.6 -1.6 3.1 2.4 2.3 3.9
Addenda:
Final sales of domestic product...... 1.6 1.8 1.1 1.3 2.2 1.6 2.2 1.9 0.6 0.0 2.3 1.4 0.8 0.3 2.4 1.4 2.0 2.0
Previously published............... 1.6 1.8 1.1 1.3 2.2 1.8 2.1 1.7 0.5 0.0 2.3 1.3 0.9 0.5 2.4 1.5 2.1 1.9
Gross domestic purchases............. 1.4 1.7 0.4 1.0 2.1 2.2 1.6 1.5 0.2 -1.3 1.4 1.1 0.2 0.1 2.1 1.5 1.8 2.6
Previously published............... 1.4 1.7 0.4 1.0 2.1 2.1 1.8 1.5 0.3 -1.4 1.6 1.0 0.3 0.2 2.1 1.5 2.0 2.5
Final sales to domestic purchasers... 1.4 1.7 0.5 1.0 2.2 2.2 1.6 1.5 0.2 -1.2 1.5 1.1 0.3 0.2 2.1 1.6 1.8 2.5
Previously published............... 1.4 1.7 0.4 1.1 2.2 2.1 1.8 1.4 0.3 -1.4 1.5 1.0 0.3 0.2 2.2 1.6 2.0 2.5
Final sales to private domestic
purchasers.......................... 1.4 1.7 0.4 1.1 1.8 2.3 1.7 1.4 0.2 -1.1 1.3 1.2 0.2 0.5 2.0 1.6 1.9 2.1
Previously published............... 1.4 1.7 0.5 1.1 1.8 2.2 1.8 1.3 0.3 -1.2 1.4 1.2 0.4 0.3 2.0 1.4 2.0 2.2
Gross national product (GNP)......... 1.6 1.8 1.1 1.3 2.1 1.6 2.2 1.9 0.6 -0.2 2.2 1.4 0.8 0.3 2.4 1.4 2.0 2.0
Previously published............... 1.6 1.8 1.0 1.3 2.1 1.7 2.1 1.7 0.5 -0.1 2.3 1.3 0.8 0.5 2.3 1.4 2.1 2.0
Implicit price deflators:
GDP................................ 1.6 1.8 1.1 1.3 2.1 1.7 2.3 1.8 0.6 -0.1 2.2 1.4 0.8 0.2 2.4 1.4 2.0 2.0
Previously published............. 1.6 1.8 1.1 1.3 2.1 1.8 2.2 1.7 0.5 0.0 2.2 1.2 0.9 0.5 2.3 1.4 2.1 1.9
Gross domestic purchases........... 1.4 1.7 0.4 1.0 2.1 2.3 1.7 1.5 0.2 -1.3 1.4 1.1 0.3 0.1 2.1 1.5 1.9 2.5
Previously published............. 1.4 1.7 0.4 1.0 2.1 2.2 1.9 1.4 0.3 -1.4 1.5 1.0 0.4 0.2 2.1 1.5 2.0 2.5
GNP................................ 1.6 1.8 1.1 1.3 2.1 1.7 2.3 1.8 0.6 -0.1 2.2 1.4 0.8 0.2 2.4 1.4 2.0 1.9
Previously published............. 1.6 1.8 1.0 1.3 2.1 1.8 2.2 1.7 0.5 0.0 2.2 1.2 0.9 0.4 2.3 1.4 2.1 1.9
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
See 'Explanatory Note' at the end of the tables.
Source: U.S. Bureau of Economic Analysis
Table 5. Real Gross Domestic Product, Quantity Indexes
[Index numbers, 2009=100]
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 -------------------------------------------------------------------------------Seasonally adjusted-------------------------------------------------------------------------------
-----------------2013----------------- -----------------2014----------------- -----------------2015----------------- -----------------2016----------------- -------2017-------
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product................ 108.277 111.059 114.237 115.934 107.443 107.649 108.479 109.538 109.285 110.522 111.934 112.494 113.394 114.163 114.626 114.765 114.931 115.568 116.363 116.872 117.231 117.976
Personal consumption expenditures........... 107.296 110.373 114.393 117.520 106.655 106.875 107.375 108.279 108.799 109.730 110.794 112.169 113.185 114.024 114.803 115.561 116.082 117.170 117.987 118.840 119.408 120.237
Goods..................................... 112.977 117.354 122.789 127.318 112.021 112.377 113.196 114.314 114.990 116.729 118.020 119.677 120.909 122.252 123.561 124.432 125.074 126.910 127.900 129.387 129.607 131.099
Durable goods........................... 128.280 137.111 147.737 155.873 126.757 127.420 128.693 130.250 132.014 136.180 138.730 141.522 144.195 147.198 149.011 150.546 150.920 154.025 157.516 161.032 160.977 163.462
Nondurable goods........................ 106.483 109.095 112.488 115.593 105.757 105.989 106.624 107.561 107.803 108.590 109.389 110.599 111.267 111.955 113.062 113.670 114.412 115.742 115.759 116.462 116.783 117.890
Services.................................. 104.555 107.024 110.402 112.917 104.062 104.218 104.567 105.371 105.817 106.374 107.331 108.575 109.493 110.108 110.651 111.358 111.825 112.593 113.332 113.917 114.628 115.178
Gross private domestic investment........... 139.317 147.048 154.695 152.188 135.404 137.068 141.460 143.337 141.232 146.457 150.494 150.009 154.699 155.012 155.768 153.302 151.739 150.696 151.601 154.715 154.250 155.025
Fixed investment.......................... 124.469 132.166 137.373 138.395 122.559 123.849 124.735 126.733 128.321 131.462 134.398 134.485 135.832 137.405 138.550 137.704 137.624 138.100 138.627 139.229 141.960 142.738
Nonresidential.......................... 124.455 133.012 136.126 135.323 122.853 123.603 124.251 127.112 129.331 132.275 135.609 134.834 135.585 136.564 137.060 135.293 133.920 135.011 136.154 136.207 138.581 140.341
Structures............................ 97.855 108.167 106.212 101.864 94.025 96.377 100.246 100.773 105.778 108.862 108.382 109.645 109.064 110.296 105.838 99.649 100.208 100.334 103.739 103.173 106.806 108.081
Equipment............................. 152.465 162.569 168.324 162.618 150.970 152.032 150.016 156.841 157.162 161.281 168.514 163.318 166.566 166.893 170.927 168.908 163.069 162.810 161.944 162.649 164.423 167.685
Intellectual property products........ 113.352 118.545 123.034 130.765 113.476 112.551 113.537 113.845 115.781 117.216 119.398 121.785 120.900 122.357 123.238 125.639 127.560 130.965 132.331 132.205 134.064 134.540
Residential............................. 124.495 128.801 141.987 149.766 121.330 124.806 126.644 125.200 124.311 128.226 129.635 133.031 136.670 140.505 144.097 146.674 151.365 149.535 147.805 150.358 154.371 151.665
Change in private inventories............. --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Exports of goods and services............... 127.951 133.420 133.967 133.527 125.407 126.939 127.915 131.542 130.737 133.637 133.845 135.463 133.925 135.147 133.783 133.015 132.143 133.051 135.115 133.799 136.187 137.548
Imports of goods and services............... 122.855 128.383 134.751 136.463 121.295 122.862 123.391 123.873 125.393 128.479 128.167 131.492 133.650 134.733 135.310 135.311 135.253 135.384 136.275 138.942 140.407 141.128
Government consumption expenditures and
gross investment........................... 92.505 91.907 93.184 93.884 93.250 92.786 92.323 91.660 91.522 91.764 92.244 92.100 92.446 93.228 93.498 93.563 93.982 93.760 93.877 93.917 93.770 93.931
Federal................................... 93.852 91.566 91.493 91.536 95.767 94.484 93.253 91.903 91.823 91.458 92.148 90.836 91.181 91.578 91.324 91.889 91.536 91.332 91.694 91.583 91.024 91.532
State and local........................... 91.595 92.068 94.196 95.310 91.594 91.652 91.679 91.453 91.278 91.902 92.250 92.841 93.188 94.214 94.816 94.565 95.471 95.237 95.199 95.334 95.445 95.389
Addenda:
Final sales of domestic product........... 106.555 109.382 112.275 114.402 105.959 106.129 106.524 107.606 107.834 108.829 110.119 110.746 111.231 112.167 112.686 113.015 113.362 114.185 114.930 115.129 115.908 116.653
Gross domestic purchases.................. 108.119 110.987 114.871 116.791 107.372 107.623 108.395 109.086 109.145 110.457 111.762 112.585 113.912 114.674 115.342 115.556 115.800 116.349 117.028 117.986 118.276 118.956
Final sales to domestic purchasers........ 106.447 109.358 112.957 115.296 105.931 106.147 106.496 107.214 107.736 108.813 110.000 110.885 111.804 112.729 113.448 113.849 114.269 115.001 115.632 116.281 116.983 117.665
Final sales to private domestic
purchasers............................... 110.138 113.982 118.199 120.973 109.287 109.684 110.248 111.334 112.031 113.329 114.704 115.864 116.935 117.898 118.737 119.227 119.647 120.633 121.401 122.212 123.140 123.960
Gross national product.................... 108.596 111.268 114.228 115.849 107.667 107.981 108.844 109.891 109.561 110.711 112.199 112.602 113.480 114.084 114.530 114.821 114.738 115.479 116.218 116.962 117.236 ---
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
See 'Explanatory Note' at the end of the tables.
Source: U.S. Bureau of Economic Analysis
Table 6. Price Indexes for Gross Domestic Product
[Index numbers, 2009=100]
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 -------------------------------------------------------------------------------Seasonally adjusted-------------------------------------------------------------------------------
-----------------2013----------------- -----------------2014----------------- -----------------2015----------------- -----------------2016----------------- -------2017-------
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product................ 106.917 108.839 110.012 111.419 106.318 106.565 107.112 107.674 108.103 108.694 109.200 109.359 109.322 109.921 110.298 110.507 110.588 111.257 111.641 112.190 112.752 113.038
Personal consumption expenditures (PCE)..... 107.532 109.157 109.481 110.789 107.184 107.229 107.625 108.089 108.654 109.136 109.456 109.384 108.947 109.410 109.761 109.807 109.985 110.555 111.034 111.583 112.198 112.277
Goods..................................... 106.116 105.780 102.695 101.209 106.829 105.823 105.912 105.901 106.149 106.164 105.970 104.837 102.786 103.051 102.912 102.030 101.161 101.217 101.067 101.392 102.062 101.143
Durable goods........................... 94.590 92.395 90.430 88.460 95.464 94.878 94.260 93.757 93.179 92.662 92.230 91.510 90.927 90.729 90.270 89.793 89.506 88.873 88.085 87.376 87.587 86.826
Nondurable goods........................ 111.946 112.689 108.961 107.800 112.560 111.324 111.815 112.086 112.809 113.137 113.089 111.721 108.803 109.348 109.409 108.285 107.063 107.546 107.802 108.788 109.746 108.739
Services.................................. 108.276 110.929 113.065 115.878 107.379 107.968 108.523 109.235 109.965 110.693 111.284 111.775 112.195 112.763 113.378 113.923 114.665 115.512 116.332 117.002 117.585 118.210
Gross private domestic investment........... 103.454 105.640 106.477 106.978 102.730 103.211 103.698 104.176 104.935 105.243 105.913 106.469 106.477 106.373 106.556 106.504 106.398 106.840 107.104 107.569 108.014 108.638
Fixed investment.......................... 103.670 106.019 107.148 107.801 102.877 103.387 103.910 104.507 105.300 105.619 106.291 106.866 107.071 107.000 107.247 107.273 107.232 107.632 107.956 108.385 108.808 109.444
Nonresidential.......................... 103.023 104.399 105.069 104.790 102.570 102.880 103.190 103.453 103.893 104.212 104.564 104.928 105.143 105.045 105.122 104.967 104.739 104.801 104.726 104.893 105.292 105.765
Structures............................ 108.116 113.398 115.484 115.637 106.638 107.692 108.423 109.713 111.236 112.613 114.195 115.547 115.638 115.189 115.617 115.492 114.916 115.707 115.629 116.295 117.183 118.289
Equipment............................. 100.047 99.906 99.761 99.634 100.160 100.084 100.203 99.741 99.772 99.943 99.931 99.976 100.015 99.838 99.635 99.557 99.574 99.549 99.763 99.651 99.832 100.026
Intellectual property products........ 103.755 104.779 105.753 104.966 103.122 103.532 103.840 104.526 104.858 104.656 104.713 104.888 105.477 105.758 106.037 105.740 105.348 105.082 104.590 104.844 105.248 105.719
Residential............................. 106.393 112.854 115.883 120.157 104.179 105.532 106.936 108.924 111.229 111.541 113.589 115.059 115.204 115.239 116.174 116.918 117.609 119.293 121.144 122.580 123.102 124.357
Change in private inventories............. --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Exports of goods and services............... 112.064 112.051 106.481 104.458 112.609 111.786 111.968 111.892 112.719 112.688 112.407 110.390 107.651 107.376 106.245 104.654 103.269 104.233 104.813 105.516 106.168 106.179
Imports of goods and services............... 113.634 113.240 104.364 101.090 114.807 113.590 113.069 113.069 114.846 113.945 113.207 110.963 106.653 105.193 103.869 101.739 100.393 100.693 101.439 101.835 103.381 103.128
Government consumption expenditures and
gross investment........................... 109.046 111.199 111.825 112.676 108.332 108.620 109.125 110.108 110.600 111.006 111.538 111.651 111.224 111.804 112.008 112.265 111.889 112.608 112.919 113.291 114.624 115.094
Federal................................... 107.581 109.252 109.866 110.488 106.776 107.017 107.442 109.088 108.802 109.138 109.469 109.599 109.765 109.845 109.939 109.916 110.162 110.438 110.571 110.782 112.266 112.737
State and local........................... 110.063 112.533 113.168 114.164 109.410 109.726 110.283 110.831 111.835 112.288 112.952 113.055 112.250 113.147 113.421 113.854 113.087 114.083 114.506 114.979 116.220 116.690
Addenda:
PCE excluding food and energy\1\.......... 106.323 108.021 109.453 111.391 105.796 106.097 106.465 106.934 107.345 107.865 108.286 108.587 108.820 109.273 109.689 110.030 110.613 111.157 111.710 112.084 112.590 112.850
Market-based PCE\2\....................... 107.000 108.242 108.186 109.067 106.827 106.698 107.068 107.406 107.898 108.260 108.510 108.302 107.743 108.166 108.438 108.397 108.413 108.862 109.239 109.756 110.390 110.275
Market-based PCE excluding food and
energy\2\................................ 105.522 106.787 107.934 109.467 105.171 105.308 105.642 105.966 106.271 106.658 107.013 107.207 107.393 107.798 108.131 108.413 108.865 109.266 109.711 110.024 110.539 110.600
Final sales of domestic product........... 106.946 108.892 110.116 111.554 106.335 106.586 107.140 107.722 108.154 108.748 109.253 109.412 109.408 110.019 110.407 110.631 110.724 111.386 111.781 112.324 112.883 113.170
Gross domestic purchases.................. 107.287 109.101 109.564 110.661 106.813 106.972 107.403 107.961 108.546 108.986 109.403 109.469 109.109 109.495 109.794 109.858 109.896 110.470 110.887 111.393 112.100 112.334
Final sales to domestic purchasers........ 107.314 109.151 109.659 110.785 106.830 106.992 107.428 108.005 108.594 109.037 109.452 109.519 109.188 109.583 109.893 109.972 110.020 110.588 111.015 111.515 112.219 112.455
Final sales to private domestic
purchasers............................... 106.873 108.641 109.125 110.305 106.440 106.574 106.994 107.484 108.094 108.545 108.935 108.992 108.681 109.038 109.369 109.411 109.546 110.084 110.533 111.059 111.636 111.825
Gross national product.................... 107.042 108.955 110.109 111.511 106.442 106.691 107.237 107.798 108.224 108.811 109.315 109.468 109.419 110.017 110.394 110.604 110.679 111.348 111.734 112.285 112.834 ---
Implicit price deflators:
Gross domestic product.................. 106.913 108.832 110.012 111.416 106.349 106.570 107.084 107.636 108.083 108.692 109.187 109.345 109.326 109.916 110.286 110.513 110.582 111.249 111.628 112.190 112.746 113.027
Final sales of domestic product......... 106.946 108.892 110.116 111.554 106.333 106.583 107.136 107.718 108.149 108.742 109.248 109.407 109.405 110.016 110.405 110.629 110.721 111.383 111.777 112.320 112.879 113.166
Gross domestic purchases................ 107.284 109.094 109.564 110.659 106.845 106.979 107.376 107.924 108.527 108.986 109.391 109.457 109.113 109.491 109.783 109.864 109.890 110.463 110.874 111.392 112.094 112.323
Final sales to domestic purchasers...... 107.314 109.151 109.659 110.785 106.829 106.990 107.425 108.002 108.591 109.033 109.448 109.515 109.185 109.581 109.891 109.969 110.017 110.585 111.011 111.511 112.215 112.450
Gross national product.................. 107.038 108.948 110.109 111.509 106.473 106.696 107.209 107.760 108.204 108.809 109.302 109.455 109.423 110.012 110.383 110.610 110.673 111.340 111.721 112.284 112.827 ---
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
2. This index is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most implicit prices (for example, financial services furnished without payment) and the final consumption expenditures of
nonprofit institutions serving households. Percentage changes for these series are included in the addenda to table 8 and appendix table A.
See 'Explanatory Note' at the end of the tables.
Source: U.S. Bureau of Economic Analysis
Table 7. Real Gross Domestic Product: Annual Percent Change
------------------------------------------------------------------------------------------------------------------------------------------
------Percent change from preceding year------ Percent change fourth quarter to fourth quarter
2009 2010 2011 2012 2013 2014 2015 2016 2009 2010 2011 2012 2013 2014 2015 2016
------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product (GDP)...... -2.8 -2.8 -2.8 -2.8 -2.8 -2.8 -2.8 -2.8 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2
Personal consumption expenditures
(PCE).................................. -1.6 -1.6 -1.6 -1.6 -1.6 -1.6 -1.6 -1.6 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2
Goods................................. -3.0 -3.0 -3.0 -3.0 -3.0 -3.0 -3.0 -3.0 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9
Durable goods....................... -5.5 -5.5 -5.5 -5.5 -5.5 -5.5 -5.5 -5.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5
Nondurable goods.................... -1.8 -1.8 -1.8 -1.8 -1.8 -1.8 -1.8 -1.8 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Services.............................. -0.9 -0.9 -0.9 -0.9 -0.9 -0.9 -0.9 -0.9 -0.8 -0.8 -0.8 -0.8 -0.8 -0.8 -0.8 -0.8
Gross private domestic investment....... -21.6 -21.6 -21.6 -21.6 -21.6 -21.6 -21.6 -21.6 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0
Fixed investment...................... -16.7 -16.7 -16.7 -16.7 -16.7 -16.7 -16.7 -16.7 -11.9 -11.9 -11.9 -11.9 -11.9 -11.9 -11.9 -11.9
Nonresidential...................... -15.6 -15.6 -15.6 -15.6 -15.6 -15.6 -15.6 -15.6 -12.2 -12.2 -12.2 -12.2 -12.2 -12.2 -12.2 -12.2
Structures........................ -18.9 -18.9 -18.9 -18.9 -18.9 -18.9 -18.9 -18.9 -27.1 -27.1 -27.1 -27.1 -27.1 -27.1 -27.1 -27.1
Equipment......................... -22.9 -22.9 -22.9 -22.9 -22.9 -22.9 -22.9 -22.9 -11.5 -11.5 -11.5 -11.5 -11.5 -11.5 -11.5 -11.5
Intellectual property products.... -1.4 -1.4 -1.4 -1.4 -1.4 -1.4 -1.4 -1.4 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3
Residential......................... -21.2 -21.2 -21.2 -21.2 -21.2 -21.2 -21.2 -21.2 -10.8 -10.8 -10.8 -10.8 -10.8 -10.8 -10.8 -10.8
Change in private inventories......... --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Net exports of goods and services....... --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Exports............................... -8.8 -8.8 -8.8 -8.8 -8.8 -8.8 -8.8 -8.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8
Goods............................... -12.1 -12.1 -12.1 -12.1 -12.1 -12.1 -12.1 -12.1 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2
Services............................ -1.1 -1.1 -1.1 -1.1 -1.1 -1.1 -1.1 -1.1 3.2 3.2 3.2 3.2 3.2 3.2 3.2 3.2
Imports............................... -13.7 -13.7 -13.7 -13.7 -13.7 -13.7 -13.7 -13.7 -6.2 -6.2 -6.2 -6.2 -6.2 -6.2 -6.2 -6.2
Goods............................... -15.8 -15.8 -15.8 -15.8 -15.8 -15.8 -15.8 -15.8 -6.7 -6.7 -6.7 -6.7 -6.7 -6.7 -6.7 -6.7
Services............................ -3.8 -3.8 -3.8 -3.8 -3.8 -3.8 -3.8 -3.8 -4.2 -4.2 -4.2 -4.2 -4.2 -4.2 -4.2 -4.2
Government consumption expenditures and
gross investment....................... 3.2 3.2 3.2 3.2 3.2 3.2 3.2 3.2 2.3 2.3 2.3 2.3 2.3 2.3 2.3 2.3
Federal............................... 5.7 5.7 5.7 5.7 5.7 5.7 5.7 5.7 3.9 3.9 3.9 3.9 3.9 3.9 3.9 3.9
National defense.................... 5.4 5.4 5.4 5.4 5.4 5.4 5.4 5.4 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.6
Nondefense.......................... 6.2 6.2 6.2 6.2 6.2 6.2 6.2 6.2 4.6 4.6 4.6 4.6 4.6 4.6 4.6 4.6
State and local....................... 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3
Addenda:
Gross domestic income (GDI)\1\........ -2.6 -2.6 -2.6 -2.6 -2.6 -2.6 -2.6 -2.6 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3
Average of GDP and GDI................ -2.7 -2.7 -2.7 -2.7 -2.7 -2.7 -2.7 -2.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Final sales of domestic product....... -2.0 -2.0 -2.0 -2.0 -2.0 -2.0 -2.0 -2.0 -0.4 -0.4 -0.4 -0.4 -0.4 -0.4 -0.4 -0.4
Gross domestic purchases.............. -3.8 -3.8 -3.8 -3.8 -3.8 -3.8 -3.8 -3.8 -1.3 -1.3 -1.3 -1.3 -1.3 -1.3 -1.3 -1.3
Final sales to domestic purchasers.... -3.1 -3.1 -3.1 -3.1 -3.1 -3.1 -3.1 -3.1 -1.4 -1.4 -1.4 -1.4 -1.4 -1.4 -1.4 -1.4
Final sales to private domestic
purchasers........................... -4.6 -4.6 -4.6 -4.6 -4.6 -4.6 -4.6 -4.6 -2.4 -2.4 -2.4 -2.4 -2.4 -2.4 -2.4 -2.4
Gross national product................ -2.9 -2.9 -2.9 -2.9 -2.9 -2.9 -2.9 -2.9 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Real disposable personal income....... -0.4 -0.4 -0.4 -0.4 -0.4 -0.4 -0.4 -0.4 -0.7 -0.7 -0.7 -0.7 -0.7 -0.7 -0.7 -0.7
Price indexes:
Gross domestic purchases............ -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3
Gross domestic purchases excluding
food and energy\2\................. 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5
GDP................................. 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4
GDP excluding food and energy\2\.... 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6
PCE................................. -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2
PCE excluding food and energy\2\.... 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4
Market-based PCE\3\................. 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5
Market-based PCE excluding food and
energy\3\.......................... 1.9 1.9 1.9 1.9 1.9 1.9 1.9 1.9 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8
------------------------------------------------------------------------------------------------------------------------------------------
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
2. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
3. This index is a supplemental measure that is based on household expenditures for which there are observable price measures. It
excludes most implicit prices (for example, financial services furnished without payment) and the final consumption expenditures of
nonprofit institutions serving households.
Note. Estimates under the 'Percent change from the preceding year' columns are calculated from annual data. Estimates under the
'Percent change fourth quarter to fourth quarter' columns are calculated from fourth quarter values relative to the same quarter one
year prior.
See 'Explanatory Note' at the end of the tables.
Source: U.S. Bureau of Economic Analysis
Table 8. Real Gross Domestic Product: Percent Change From Quarter One Year Ago
---------------------------------------------------------------------------------------------------------------------------------------------------------
----2013---- -----------2014----------- -----------2015----------- -----------2016----------- ----2017----
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
---------------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product (GDP)...... 1.7 2.7 1.7 2.7 3.2 2.7 3.8 3.3 2.4 2.0 1.4 1.2 1.5 1.8 2.0 2.1
Personal consumption expenditures
(PCE).................................. 1.4 2.0 2.0 2.7 3.2 3.6 4.0 3.9 3.6 3.0 2.6 2.8 2.8 2.8 2.9 2.6
Goods................................. 3.0 3.5 2.7 3.9 4.3 4.7 5.1 4.7 4.7 4.0 3.4 3.8 3.5 4.0 3.6 3.3
Durable goods....................... 6.0 5.2 4.1 6.9 7.8 8.7 9.2 8.1 7.4 6.4 4.7 4.6 5.7 7.0 6.7 6.1
Nondurable goods.................... 1.7 2.6 1.9 2.5 2.6 2.8 3.2 3.1 3.4 2.8 2.8 3.4 2.4 2.5 2.1 1.9
Services.............................. 0.6 1.3 1.7 2.1 2.6 3.0 3.5 3.5 3.1 2.6 2.1 2.3 2.4 2.3 2.5 2.3
Gross private domestic investment....... 7.0 9.3 4.3 6.8 6.4 4.7 9.5 5.8 3.5 2.2 -1.9 -2.8 -2.7 0.9 1.7 2.9
Fixed investment...................... 5.3 5.2 4.7 6.1 7.7 6.1 5.9 4.5 3.1 2.4 1.3 0.5 0.1 1.1 3.2 3.4
Nonresidential...................... 3.4 4.8 5.3 7.0 9.1 6.1 4.8 3.2 1.1 0.3 -1.2 -1.1 -0.7 0.7 3.5 3.9
Structures........................ 3.2 5.8 12.5 13.0 8.1 8.8 3.1 1.3 -2.3 -9.1 -8.1 -9.0 -2.0 3.5 6.6 7.7
Equipment......................... 3.3 6.1 4.1 6.1 12.3 4.1 6.0 3.5 1.4 3.4 -2.1 -2.4 -5.3 -3.7 0.8 3.0
Intellectual property products.... 3.6 2.2 2.0 4.1 5.2 7.0 4.4 4.4 3.2 3.2 5.5 7.0 7.4 5.2 5.1 2.7
Residential......................... 13.6 6.8 2.5 2.7 2.4 6.3 9.9 9.6 11.2 10.3 10.8 6.4 2.6 2.5 2.0 1.4
Change in private inventories......... --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Net exports of goods and services....... --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Exports............................... 2.9 5.9 4.3 5.3 4.6 3.0 2.4 1.1 0.0 -1.8 -1.3 -1.6 1.0 0.6 3.1 3.4
Goods............................... 2.2 7.0 4.7 5.7 5.3 2.7 2.0 0.7 -1.1 -3.1 -0.9 -1.5 1.7 1.8 4.4 4.4
Services............................ 4.5 3.6 3.3 4.4 3.2 3.7 3.3 2.0 2.1 0.9 -2.2 -1.7 -0.4 -1.8 0.5 1.4
Imports............................... 1.1 2.5 3.4 4.6 3.9 6.2 6.6 4.9 5.6 2.9 1.2 0.5 0.7 2.7 3.8 4.2
Goods............................... 1.2 2.7 3.7 5.0 4.2 6.6 7.2 5.2 5.7 2.8 0.7 0.0 0.2 2.5 3.8 4.2
Services............................ 0.6 1.1 1.7 2.6 2.1 3.9 3.9 3.4 5.2 3.5 3.4 2.5 3.1 3.5 3.9 4.2
Government consumption expenditures and
gross investment....................... -3.0 -2.8 -1.9 -1.1 -0.1 0.5 1.0 1.6 1.4 1.6 1.7 0.6 0.4 0.4 -0.2 0.2
Federal............................... -6.6 -6.7 -4.1 -3.2 -1.2 -1.2 -0.7 0.1 -0.9 1.2 0.4 -0.3 0.4 -0.3 -0.6 0.2
National defense.................... -8.0 -7.1 -5.4 -4.5 -2.2 -4.0 -2.9 -2.0 -3.7 0.0 -0.4 -1.4 0.3 -1.4 -1.5 0.2
Nondefense.......................... -4.3 -6.0 -2.0 -1.1 0.5 3.5 2.8 3.5 3.5 2.9 1.6 1.5 0.5 1.2 0.9 0.2
State and local....................... -0.5 -0.1 -0.3 0.3 0.6 1.5 2.1 2.5 2.8 1.9 2.4 1.1 0.4 0.8 0.0 0.2
Addenda:
Gross domestic income (GDI)\1\........ 1.5 1.3 1.7 2.6 3.7 4.2 4.3 3.5 2.4 1.6 1.1 0.5 1.4 0.5 1.3 ---
Average of GDP and GDI................ 1.6 2.0 1.7 2.7 3.4 3.5 4.0 3.4 2.4 1.8 1.2 0.9 1.4 1.2 1.6 ---
Final sales of domestic product....... 1.4 2.0 1.8 2.5 3.4 2.9 3.2 3.1 2.3 2.0 1.9 1.8 2.0 1.9 2.2 2.2
Gross domestic purchases.............. 1.4 2.2 1.7 2.6 3.1 3.2 4.4 3.8 3.2 2.6 1.7 1.5 1.5 2.1 2.1 2.2
Final sales to domestic purchasers.... 1.1 1.6 1.7 2.5 3.3 3.4 3.8 3.6 3.1 2.7 2.2 2.0 1.9 2.1 2.4 2.3
Final sales to private domestic
purchasers........................... 2.1 2.6 2.5 3.3 4.0 4.1 4.4 4.0 3.5 2.9 2.3 2.3 2.2 2.5 2.9 2.8
Gross national product................ 1.7 2.7 1.8 2.5 3.1 2.5 3.6 3.0 2.1 2.0 1.1 1.2 1.5 1.9 2.2 ---
Real disposable personal income....... -0.5 -2.8 2.5 3.2 3.7 4.9 4.9 4.6 4.0 3.2 2.2 1.7 1.4 0.2 0.9 1.2
Price indexes:
Gross domestic purchases............ 1.4 1.4 1.6 1.9 1.9 1.4 0.5 0.5 0.4 0.4 0.7 0.9 1.0 1.4 2.0 1.7
Gross domestic purchases excluding
food and energy\2\................. 1.5 1.7 1.7 1.8 1.9 1.6 1.3 1.2 1.0 1.0 1.2 1.3 1.4 1.5 1.8 1.7
GDP................................. 1.5 1.6 1.7 2.0 1.9 1.6 1.1 1.1 1.0 1.0 1.2 1.2 1.2 1.5 2.0 1.6
GDP excluding food and energy\2\.... 1.7 1.9 1.9 2.0 2.0 1.7 1.4 1.3 1.2 1.2 1.4 1.5 1.6 1.7 2.0 1.8
PCE................................. 1.3 1.2 1.4 1.8 1.7 1.2 0.3 0.3 0.3 0.4 1.0 1.0 1.2 1.6 2.0 1.6
PCE excluding food and energy\2\.... 1.5 1.5 1.5 1.7 1.7 1.5 1.4 1.3 1.3 1.3 1.6 1.7 1.8 1.9 1.8 1.5
Market-based PCE\3\................. 1.0 0.9 1.0 1.5 1.3 0.8 -0.1 -0.1 -0.1 0.1 0.6 0.6 0.7 1.3 1.8 1.3
Market-based PCE excluding food and
energy\3\.......................... 1.1 1.1 1.0 1.3 1.3 1.2 1.1 1.1 1.0 1.1 1.4 1.4 1.5 1.5 1.5 1.2
---------------------------------------------------------------------------------------------------------------------------------------------------------
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
2. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
3. This index is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most implicit
prices (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
See 'Explanatory Note' at the end of the tables.
Source: U.S. Bureau of Economic Analysis
Table 9. Relation of Gross Domestic Product, Gross National Product, and National Income
[Billions of dollars]
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 --------------------------------------------------------------Seasonally adjusted at annual rates--------------------------------------------------------------
---------------2013--------------- ---------------2014--------------- ---------------2015--------------- ---------------2016--------------- ------2017------
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic product (GDP)................ 16,691.5 17,427.6 18,120.7 18,624.5 16,475.4 16,541.4 16,749.3 16,999.9 17,031.3 17,320.9 17,622.3 17,735.9 17,874.7 18,093.2 18,227.7 18,287.2 18,325.2 18,538.0 18,729.1 18,905.5 19,057.7 19,226.7
Plus: Income receipts from the rest of the
world...................................... 825.5 847.2 812.9 844.3 812.7 826.9 826.3 836.3 840.4 843.0 858.1 847.2 814.6 823.1 822.0 791.9 802.8 843.8 848.4 882.1 895.9 ---
Less: Income payments to the rest of the
world...................................... 581.3 612.6 608.4 647.2 585.9 582.2 574.0 583.0 599.2 612.6 612.6 626.1 597.6 630.4 630.4 575.1 626.7 648.8 660.1 653.1 681.7 ---
Equals: Gross national product.............. 16,935.8 17,662.1 18,325.2 18,821.6 16,702.2 16,786.0 17,001.6 17,253.3 17,272.5 17,551.3 17,867.7 17,957.0 18,091.6 18,285.9 18,419.3 18,504.1 18,501.3 18,733.0 18,917.5 19,134.5 19,272.0 ---
Less: Consumption of fixed capital.......... 2,628.9 2,748.0 2,841.5 2,916.7 2,586.4 2,615.0 2,640.7 2,673.5 2,706.1 2,731.9 2,762.6 2,791.5 2,811.7 2,829.6 2,854.4 2,870.5 2,880.9 2,908.3 2,927.6 2,950.0 2,986.2 3,021.3
Less: Statistical discrepancy............... -137.9 -229.9 -255.9 -147.2 -160.4 -211.2 -118.5 -61.7 -167.7 -217.6 -205.7 -328.7 -273.0 -263.5 -219.6 -267.6 -226.1 -132.9 -195.2 -34.4 -100.2 ---
Equals: National income..................... 14,444.8 15,144.0 15,739.6 16,052.0 14,276.1 14,382.3 14,479.4 14,641.5 14,734.1 15,037.0 15,310.8 15,494.2 15,552.9 15,719.8 15,784.5 15,901.3 15,846.5 15,957.6 16,185.1 16,218.9 16,386.0 ---
Compensation of employees................. 8,842.4 9,256.5 9,708.3 9,978.6 8,705.1 8,823.7 8,880.6 8,960.4 9,119.4 9,175.0 9,286.9 9,444.5 9,541.6 9,655.9 9,730.0 9,905.5 9,838.6 9,979.6 10,081.4 10,014.9 10,164.1 10,268.7
Wages and salaries...................... 7,116.7 7,476.8 7,858.9 8,085.2 6,999.7 7,102.1 7,148.2 7,216.7 7,360.9 7,406.4 7,501.9 7,638.0 7,718.4 7,813.7 7,873.5 8,030.0 7,964.9 8,090.2 8,178.1 8,107.8 8,230.0 8,319.0
Supplements to wages and salaries....... 1,725.8 1,779.7 1,849.4 1,893.4 1,705.4 1,721.6 1,732.4 1,743.7 1,758.5 1,768.6 1,785.0 1,806.6 1,823.3 1,842.2 1,856.5 1,875.5 1,873.7 1,889.4 1,903.4 1,907.1 1,934.1 1,949.7
Proprietors' income with inventory
valuation and capital consumption
adjustments.............................. 1,284.7 1,315.8 1,318.8 1,341.9 1,291.5 1,283.0 1,286.7 1,277.8 1,292.7 1,319.3 1,320.0 1,331.2 1,312.8 1,313.9 1,323.2 1,325.4 1,327.6 1,339.5 1,346.1 1,354.6 1,380.2 1,373.8
Rental income of persons with capital
consumption adjustment................... 567.1 611.7 662.5 707.3 550.6 561.9 574.4 581.3 594.3 606.7 618.0 627.9 639.3 658.4 670.9 681.4 697.6 704.8 708.1 718.9 730.8 740.4
Corporate profits with inventory
valuation and capital consumption
adjustments.............................. 2,032.9 2,140.6 2,117.5 2,073.5 1,999.9 2,018.7 2,034.6 2,078.2 1,984.6 2,149.0 2,196.6 2,232.0 2,175.5 2,175.1 2,135.9 1,983.3 2,040.8 1,996.6 2,101.2 2,155.2 2,109.0 ---
Net interest and miscellaneous payments... 504.6 535.0 583.4 570.6 532.3 491.5 490.3 504.5 503.8 522.9 554.3 558.8 576.1 587.7 591.8 578.0 574.1 568.0 573.7 566.5 588.2 599.2
Taxes on production and imports less
subsidies................................ 1,115.6 1,163.6 1,198.5 1,226.2 1,107.5 1,110.0 1,120.0 1,125.2 1,141.8 1,160.5 1,171.1 1,180.8 1,185.6 1,196.5 1,200.4 1,211.6 1,214.4 1,214.3 1,233.5 1,242.5 1,248.2 1,259.8
Business current transfer payments (net) 118.4 138.9 165.0 164.0 108.3 114.3 114.3 136.7 116.2 121.6 181.4 136.3 137.5 147.4 146.4 228.6 163.2 165.0 151.2 176.6 176.5 152.5
Current surplus of government
enterprises.............................. -20.9 -17.9 -14.3 -10.1 -19.0 -20.8 -21.5 -22.5 -18.6 -18.1 -17.5 -17.5 -15.6 -15.1 -14.1 -12.4 -9.7 -10.3 -10.1 -10.2 -11.0 -11.2
Addenda:
Gross domestic income (GDI)............... 16,829.5 17,657.5 18,376.6 18,771.6 16,635.8 16,752.6 16,867.8 17,061.6 17,199.1 17,538.6 17,827.9 18,064.6 18,147.7 18,356.7 18,447.2 18,554.9 18,551.3 18,670.9 18,924.4 18,939.9 19,157.9 ---
Average of GDP and GDI.................... 16,760.5 17,542.6 18,248.7 18,698.1 16,555.6 16,647.0 16,808.6 17,030.7 17,115.2 17,429.7 17,725.1 17,900.3 18,011.2 18,225.0 18,337.5 18,421.0 18,438.3 18,604.5 18,826.7 18,922.7 19,107.8 ---
Statistical discrepancy as a percentage
of GDP................................... -0.8 -1.3 -1.4 -0.8 -1.0 -1.3 -0.7 -0.4 -1.0 -1.3 -1.2 -1.9 -1.5 -1.5 -1.2 -1.5 -1.2 -0.7 -1.0 -0.2 -0.5 ---
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Source: U.S. Bureau of Economic Analysis
Table 10. Personal Income and Its Disposition
[Billions of dollars]
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 --------------------------------------------------------------Seasonally adjusted at annual rates--------------------------------------------------------------
---------------2013--------------- ---------------2014--------------- ---------------2015--------------- ---------------2016--------------- ------2017------
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Personal income\1\.......................... 14,073.7 14,818.2 15,553.0 15,928.7 13,904.2 14,017.2 14,135.3 14,238.0 14,485.9 14,713.5 14,924.8 15,148.7 15,301.0 15,516.1 15,625.5 15,769.2 15,751.0 15,910.1 16,028.0 16,025.7 16,243.3 16,362.2
Compensation of employees................. 8,842.4 9,256.5 9,708.3 9,978.6 8,705.1 8,823.7 8,880.6 8,960.4 9,119.4 9,175.0 9,286.9 9,444.5 9,541.6 9,655.9 9,730.0 9,905.5 9,838.6 9,979.6 10,081.4 10,014.9 10,164.1 10,268.7
Wages and salaries...................... 7,116.7 7,476.8 7,858.9 8,085.2 6,999.7 7,102.1 7,148.2 7,216.7 7,360.9 7,406.4 7,501.9 7,638.0 7,718.4 7,813.7 7,873.5 8,030.0 7,964.9 8,090.2 8,178.1 8,107.8 8,230.0 8,319.0
Supplements to wages and salaries....... 1,725.8 1,779.7 1,849.4 1,893.4 1,705.4 1,721.6 1,732.4 1,743.7 1,758.5 1,768.6 1,785.0 1,806.6 1,823.3 1,842.2 1,856.5 1,875.5 1,873.7 1,889.4 1,903.4 1,907.1 1,934.1 1,949.7
Proprietors' income with inventory
valuation and capital consumption
adjustments.............................. 1,284.7 1,315.8 1,318.8 1,341.9 1,291.5 1,283.0 1,286.7 1,277.8 1,292.7 1,319.3 1,320.0 1,331.2 1,312.8 1,313.9 1,323.2 1,325.4 1,327.6 1,339.5 1,346.1 1,354.6 1,380.2 1,373.8
Farm.................................... 87.8 68.1 53.7 43.2 98.0 91.0 91.2 70.9 66.4 76.7 64.2 65.3 52.0 53.0 58.7 51.0 46.8 46.7 41.4 37.8 41.9 33.0
Nonfarm................................. 1,197.0 1,247.7 1,265.1 1,298.7 1,193.5 1,192.1 1,195.4 1,206.9 1,226.3 1,242.6 1,255.8 1,265.9 1,260.7 1,260.9 1,264.5 1,274.3 1,280.8 1,292.8 1,304.6 1,316.7 1,338.4 1,340.8
Rental income of persons with capital
consumption adjustment................... 567.1 611.7 662.5 707.3 550.6 561.9 574.4 581.3 594.3 606.7 618.0 627.9 639.3 658.4 670.9 681.4 697.6 704.8 708.1 718.9 730.8 740.4
Personal income receipts on assets........ 2,056.1 2,245.1 2,387.1 2,377.8 2,040.2 2,033.9 2,064.2 2,085.9 2,142.0 2,227.9 2,286.9 2,323.7 2,350.2 2,406.9 2,413.8 2,377.5 2,374.9 2,371.4 2,373.2 2,391.6 2,420.1 2,432.5
Personal interest income................ 1,261.6 1,303.3 1,367.3 1,415.3 1,280.8 1,250.0 1,252.7 1,263.0 1,277.9 1,297.3 1,315.2 1,322.8 1,303.4 1,385.0 1,403.2 1,377.5 1,397.4 1,408.4 1,416.9 1,438.5 1,476.6 1,463.6
Personal dividend income................ 794.4 941.9 1,019.8 962.5 759.3 783.9 811.6 823.0 864.1 930.7 971.8 1,000.9 1,046.8 1,021.9 1,010.6 1,000.0 977.5 962.9 956.4 953.0 943.5 968.8
Personal current transfer receipts........ 2,428.0 2,544.4 2,684.4 2,768.4 2,405.5 2,418.0 2,438.6 2,449.9 2,479.0 2,530.4 2,570.8 2,597.3 2,645.4 2,682.7 2,698.0 2,711.4 2,739.9 2,760.2 2,777.4 2,795.9 2,831.9 2,843.9
Less: Contributions for government social
insurance, domestic...................... 1,104.6 1,155.3 1,208.0 1,245.3 1,088.7 1,103.3 1,109.2 1,117.3 1,141.5 1,145.9 1,157.8 1,175.9 1,188.3 1,201.7 1,210.3 1,231.9 1,227.5 1,245.4 1,258.2 1,250.2 1,283.8 1,297.1
Less: Personal current taxes................ 1,677.8 1,785.6 1,937.9 1,960.1 1,644.9 1,681.3 1,681.5 1,703.6 1,751.5 1,757.8 1,795.7 1,837.5 1,903.4 1,934.1 1,937.7 1,976.5 1,928.9 1,950.7 1,983.8 1,977.2 2,018.4 2,015.2
Equals: Disposable personal income.......... 12,395.8 13,032.6 13,615.0 13,968.6 12,259.3 12,335.9 12,453.8 12,534.3 12,734.3 12,955.7 13,129.2 13,311.3 13,397.6 13,582.0 13,687.8 13,792.7 13,822.1 13,959.4 14,044.3 14,048.5 14,224.8 14,347.0
Less: Personal outlays...................... 11,775.7 12,293.8 12,786.7 13,288.0 11,668.9 11,697.5 11,792.7 11,943.8 12,060.7 12,216.2 12,371.8 12,526.5 12,587.9 12,737.7 12,865.8 12,955.2 13,034.3 13,214.2 13,366.6 13,537.0 13,671.8 13,800.2
Equals: Personal saving..................... 620.1 738.8 828.4 680.6 590.4 638.4 661.1 590.6 673.6 739.5 757.4 784.8 809.7 844.4 822.0 837.5 787.8 745.2 677.7 511.5 553.0 546.8
Personal saving as a percentage of
disposable personal income............... 5.0 5.7 6.1 4.9 4.8 5.2 5.3 4.7 5.3 5.7 5.8 5.9 6.0 6.2 6.0 6.1 5.7 5.3 4.8 3.6 3.9 3.8
Addenda:
Personal income excluding current
transfer receipts, billions of chained
(2009) dollars\2\........................ 10,830.0 11,244.2 11,754.2 11,878.7 10,728.1 10,817.4 10,868.3 10,906.2 11,050.9 11,163.6 11,287.1 11,475.0 11,616.6 11,729.9 11,778.1 11,891.9 11,830.4 11,894.9 11,934.4 11,857.1 11,954.0 12,040.7
Disposable personal income, billions of
chained (2009) dollars\2\................ 11,527.6 11,939.3 12,436.0 12,608.2 11,437.7 11,504.4 11,571.7 11,596.6 11,720.4 11,871.5 11,995.3 12,169.6 12,297.6 12,414.2 12,470.8 12,561.2 12,567.7 12,627.2 12,649.2 12,590.8 12,679.0 12,778.8
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. Personal income is also equal to national income less corporate profits with inventory valuation and capital consumption adjustments, taxes on production and imports less subsidies, contributions for government social insurance, net
interest and miscellaneous payments, business current transfer payments (net), and current surplus of government enterprises, plus personal income receipts on assets, and personal current transfer receipts.
2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures.
Source: U.S. Bureau of Economic Analysis
Table 11A. Corporate Profits
[Billions of dollars]
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 ------------------------------------------------------------------Seasonally adjusted at annual rates------------------------------------------------------------------
-----------------2013----------------- -----------------2014----------------- -----------------2015----------------- -----------------2016----------------- 2017
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Corporate profits with inventory
valuation and capital consumption
adjustments............................ 2,032.9 2,140.6 2,117.5 2,073.5 1,999.9 2,018.7 2,034.6 2,078.2 1,984.6 2,149.0 2,196.6 2,232.0 2,175.5 2,175.1 2,135.9 1,983.3 2,040.8 1,996.6 2,101.2 2,155.2 2,109.0
Less: Taxes on corporate income......... 467.7 505.3 507.4 471.0 452.8 460.9 473.1 483.9 505.1 527.0 498.6 490.6 521.9 516.7 485.6 505.6 455.9 471.5 487.2 469.5 466.3
Equals: Profits after tax with
inventory valuation and capital
consumption adjustments................ 1,565.2 1,635.3 1,610.0 1,602.4 1,547.1 1,557.8 1,561.5 1,594.2 1,479.5 1,622.1 1,698.1 1,741.4 1,653.7 1,658.5 1,650.3 1,477.7 1,584.8 1,525.1 1,614.1 1,685.7 1,642.7
Net dividends......................... 929.4 986.4 1,039.9 981.9 804.5 1,054.2 874.8 983.9 938.9 975.9 998.5 1,032.1 1,062.0 1,036.3 1,048.1 1,013.3 1,000.7 971.3 976.3 979.1 988.1
Undistributed profits with inventory
valuation and capital consumption
adjustments.......................... 635.8 648.9 570.1 620.6 742.6 503.6 686.7 610.3 540.6 646.2 699.6 709.2 591.7 622.2 602.2 464.4 584.1 553.9 637.7 706.6 654.6
Addenda for corporate cash flow:
Net cash flow with inventory
valuation adjustment................. 2,042.0 2,111.3 2,098.4 2,179.3 2,130.9 1,903.3 2,097.9 2,035.8 1,986.9 2,110.1 2,138.5 2,209.6 2,101.3 2,145.5 2,139.1 2,007.9 2,133.3 2,108.1 2,206.8 2,269.1 2,229.1
Undistributed profits with
inventory valuation and capital
consumption adjustments............ 635.8 648.9 570.1 620.6 742.6 503.6 686.7 610.3 540.6 646.2 699.6 709.2 591.7 622.2 602.2 464.4 584.1 553.9 637.7 706.6 654.6
Consumption of fixed capital........ 1,400.5 1,465.7 1,525.1 1,563.2 1,378.7 1,393.9 1,406.6 1,422.7 1,438.9 1,457.1 1,474.5 1,492.2 1,506.6 1,519.0 1,533.2 1,541.5 1,547.6 1,559.8 1,567.4 1,577.9 1,599.7
Less: Capital transfers paid (net) -5.7 3.3 -3.2 4.4 -9.6 -5.8 -4.5 -2.9 -7.4 -6.9 35.6 -8.1 -3.0 -4.4 -3.7 -1.9 -1.7 5.6 -1.6 15.4 25.3
Addenda:
Profits before tax (without inventory
valuation and capital consumption
adjustments)......................... 2,156.1 2,249.1 2,158.5 2,158.9 2,132.3 2,119.0 2,158.7 2,214.3 2,155.6 2,263.5 2,284.8 2,292.5 2,201.2 2,260.8 2,171.7 2,000.5 2,075.6 2,123.6 2,179.6 2,256.8 2,276.8
Profits after tax (without inventory
valuation and capital consumption
adjustments)......................... 1,688.4 1,743.8 1,651.1 1,687.9 1,679.5 1,658.1 1,685.6 1,730.3 1,650.5 1,736.5 1,786.2 1,801.8 1,679.4 1,744.2 1,686.1 1,494.9 1,619.6 1,652.1 1,692.4 1,787.4 1,810.5
Inventory valuation adjustment........ 3.3 4.1 52.4 2.7 -2.2 27.4 0.1 -12.1 -56.4 -0.3 23.8 49.2 74.5 9.6 57.1 68.3 57.2 -36.1 7.3 -17.5 -75.0
Capital consumption adjustment........ -126.6 -112.6 -93.5 -88.2 -130.2 -127.8 -124.2 -124.0 -114.6 -114.2 -111.9 -109.7 -100.2 -95.3 -92.9 -85.5 -92.0 -90.9 -85.7 -84.2 -92.8
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Source: U.S. Bureau of Economic Analysis
Table 11B. Corporate Profits: Percent Change From Preceding Period
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 ----------------------------------------------------------------------------Quarterly rates----------------------------------------------------------------------------
-----------------2013----------------- -----------------2014----------------- -----------------2015----------------- -----------------2016----------------- 2017
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Corporate profits with inventory
valuation and capital consumption
adjustments............................ 1.7 5.3 -1.1 -2.1 0.8 0.9 0.8 2.1 -4.5 8.3 2.2 1.6 -2.5 0.0 -1.8 -7.1 2.9 -2.2 5.2 2.6 -2.1
Less: Taxes on corporate income......... 4.5 8.0 0.4 -7.2 1.3 1.8 2.7 2.3 4.4 4.3 -5.4 -1.6 6.4 -1.0 -6.0 4.1 -9.8 3.4 3.3 -3.6 -0.7
Equals: Profits after tax with
inventory valuation and capital
consumption adjustments................ 0.9 4.5 -1.5 -0.5 0.7 0.7 0.2 2.1 -7.2 9.6 4.7 2.5 -5.0 0.3 -0.5 -10.5 7.2 -3.8 5.8 4.4 -2.6
Net dividends......................... 8.1 6.1 5.4 -5.6 -21.6 31.0 -17.0 12.5 -4.6 3.9 2.3 3.4 2.9 -2.4 1.1 -3.3 -1.2 -2.9 0.5 0.3 0.9
Undistributed profits with inventory
valuation and capital consumption
adjustments.......................... -8.0 2.1 -12.1 8.9 45.3 -32.2 36.4 -11.1 -11.4 19.5 8.3 1.4 -16.6 5.2 -3.2 -22.9 25.8 -5.2 15.1 10.8 -7.4
Addenda for corporate cash flow:
Net cash flow with inventory
valuation adjustment................. -0.4 3.4 -0.6 3.9 14.2 -10.7 10.2 -3.0 -2.4 6.2 1.3 3.3 -4.9 2.1 -0.3 -6.1 6.2 -1.2 4.7 2.8 -1.8
Undistributed profits with
inventory valuation and capital
consumption adjustments............ -8.0 2.1 -12.1 8.9 45.3 -32.2 36.4 -11.1 -11.4 19.5 8.3 1.4 -16.6 5.2 -3.2 -22.9 25.8 -5.2 15.1 10.8 -7.4
Consumption of fixed capital........ 3.7 4.7 4.1 2.5 0.8 1.1 0.9 1.1 1.1 1.3 1.2 1.2 1.0 0.8 0.9 0.5 0.4 0.8 0.5 0.7 1.4
Less: Capital transfers paid (net) --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Addenda:
Profits before tax (without inventory
valuation and capital consumption
adjustments)......................... 1.2 4.3 -4.0 0.0 1.0 -0.6 1.9 2.6 -2.6 5.0 0.9 0.3 -4.0 2.7 -3.9 -7.9 3.8 2.3 2.6 3.5 0.9
Profits after tax (without inventory
valuation and capital consumption
adjustments)......................... 0.3 3.3 -5.3 2.2 0.9 -1.3 1.7 2.7 -4.6 5.2 2.9 0.9 -6.8 3.9 -3.3 -11.3 8.3 2.0 2.4 5.6 1.3
Inventory valuation adjustment........ --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Capital consumption adjustment........ --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Source: U.S. Bureau of Economic Analysis
Table 12A. Corporate Profits by Industry
[Billions of dollars]
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 ------------------------------------------------------------------Seasonally adjusted at annual rates------------------------------------------------------------------
-----------------2013----------------- -----------------2014----------------- -----------------2015----------------- -----------------2016----------------- 2017
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Corporate profits with inventory
valuation and capital consumption
adjustments....................... 2,032.9 2,140.6 2,117.5 2,073.5 1,999.9 2,018.7 2,034.6 2,078.2 1,984.6 2,149.0 2,196.6 2,232.0 2,175.5 2,175.1 2,135.9 1,983.3 2,040.8 1,996.6 2,101.2 2,155.2 2,109.0
Domestic industries.................... 1,621.0 1,743.0 1,732.5 1,678.7 1,600.0 1,607.8 1,616.2 1,660.2 1,581.4 1,760.1 1,789.5 1,841.2 1,786.4 1,802.5 1,759.3 1,581.7 1,674.9 1,607.6 1,712.9 1,719.6 1,682.7
Financial............................ 391.4 446.3 456.7 454.6 370.7 376.5 393.6 425.0 433.2 480.1 415.9 456.2 477.3 500.4 432.3 416.7 386.8 426.4 489.0 516.2 475.5
Nonfinancial......................... 1,229.6 1,296.7 1,275.8 1,224.1 1,229.3 1,231.3 1,222.6 1,235.2 1,148.3 1,280.1 1,373.6 1,385.0 1,309.2 1,302.0 1,327.1 1,165.0 1,288.0 1,181.2 1,223.8 1,203.4 1,207.2
Rest of the world...................... 411.8 397.5 385.0 394.7 399.9 411.0 418.5 418.0 403.2 388.9 407.2 390.8 389.1 372.7 376.5 401.6 365.9 389.0 388.4 435.6 426.3
Receipts from the rest of the world 668.0 686.4 653.1 671.4 655.7 667.5 670.9 678.0 681.8 681.9 694.6 687.2 655.5 661.3 662.9 632.8 637.8 674.4 674.2 699.3 704.7
Less: Payments to the rest of the
world............................... 256.2 288.9 268.1 276.7 255.8 256.6 252.5 260.0 278.6 293.0 287.5 296.3 266.4 288.6 286.3 231.2 271.9 285.4 285.8 263.7 278.3
Corporate profits with inventory
valuation adjustment.............. 2,159.4 2,253.2 2,210.9 2,161.6 2,130.1 2,146.5 2,158.8 2,202.2 2,099.2 2,263.2 2,308.6 2,341.7 2,275.7 2,270.4 2,228.7 2,068.8 2,132.7 2,087.5 2,187.0 2,239.4 2,201.8
Domestic industries.................... 1,747.6 1,855.6 1,826.0 1,766.9 1,730.2 1,735.5 1,740.4 1,784.2 1,696.0 1,874.3 1,901.4 1,950.9 1,886.6 1,897.8 1,852.2 1,667.2 1,766.9 1,698.5 1,798.6 1,803.7 1,775.5
Financial............................ 429.4 483.9 497.9 501.8 410.8 414.9 430.6 461.4 469.1 517.4 454.1 495.1 516.1 540.6 474.2 460.5 432.2 473.4 536.8 564.8 523.7
Federal Reserve banks.............. 79.6 103.5 100.7 92.0 68.7 73.6 82.6 93.6 100.6 105.3 105.0 103.0 97.4 101.2 104.4 100.0 97.3 93.0 89.5 88.1 90.5
Other financial.................... 349.8 380.5 397.1 409.9 342.1 341.2 347.9 367.8 368.5 412.1 349.1 392.1 418.7 439.4 369.8 360.6 334.9 380.5 447.3 476.7 433.2
Nonfinancial......................... 1,318.2 1,371.7 1,328.1 1,265.1 1,319.4 1,320.6 1,309.8 1,322.8 1,226.9 1,356.9 1,447.3 1,455.8 1,370.5 1,357.2 1,378.0 1,206.7 1,334.6 1,225.0 1,261.8 1,238.9 1,251.8
Utilities.......................... 26.9 31.5 21.8 19.3 16.6 30.8 31.4 28.9 35.1 26.8 28.1 36.0 35.7 27.4 20.1 4.0 22.8 17.1 16.1 21.2 27.6
Manufacturing...................... 429.6 452.0 417.1 392.6 411.8 417.3 421.8 467.4 384.8 467.7 466.5 489.1 466.0 449.0 450.5 303.1 424.3 374.0 385.4 386.8 370.4
Durable goods.................... 218.9 230.0 218.4 212.2 209.1 216.1 223.9 226.6 206.9 227.4 242.2 243.6 222.5 230.9 219.9 200.3 220.0 198.2 206.4 224.3 208.5
Fabricated metal products...... 23.7 23.9 23.6 20.1 25.0 24.8 22.9 22.0 22.4 24.3 26.1 22.7 24.9 23.7 22.6 23.4 22.9 16.9 19.6 20.9 16.2
Machinery...................... 34.2 34.6 24.2 17.8 28.6 36.0 34.6 37.7 30.5 36.3 35.6 36.0 31.2 26.0 20.7 18.8 18.5 16.8 17.6 18.1 23.5
Computer and electronic
products...................... 51.6 53.2 53.9 49.9 50.0 49.8 52.9 53.9 50.5 53.2 55.6 53.6 55.8 54.2 55.3 50.3 55.3 46.5 48.6 49.3 43.3
Electrical equipment,
appliances, and components.... 19.2 14.2 19.6 23.7 15.8 17.6 22.4 21.2 16.3 13.9 13.4 13.3 17.0 18.8 20.3 22.4 21.0 22.7 24.7 26.5 22.7
Motor vehicles, bodies and
trailers, and parts........... 21.3 30.7 26.3 26.4 20.3 17.8 21.1 26.2 24.4 29.1 32.6 36.5 23.8 30.9 28.5 22.2 30.2 32.4 23.1 20.1 19.6
Other durable goods............ 68.8 73.5 70.7 74.3 69.4 70.1 70.1 65.7 62.8 70.6 79.0 81.4 69.7 77.3 72.5 63.3 72.1 62.9 72.8 89.3 83.2
Nondurable goods................. 210.7 222.0 198.7 180.4 202.7 201.2 197.9 240.8 177.9 240.3 224.2 245.6 243.5 218.1 230.6 102.7 204.3 175.8 179.0 162.5 161.9
Food and beverage and tobacco
products...................... 54.4 58.9 71.7 76.0 45.5 53.2 60.0 58.8 41.7 59.4 65.7 68.6 75.7 66.6 73.1 71.4 73.7 78.5 77.4 74.4 63.0
Petroleum and coal products.... 47.9 58.5 17.3 -2.2 56.0 43.6 31.8 60.1 52.9 61.6 55.0 64.4 51.8 46.1 46.2 -74.9 7.9 -2.1 -2.4 -12.2 2.1
Chemical products.............. 76.0 75.6 73.7 68.9 70.4 73.3 74.8 85.4 60.4 88.1 70.7 83.0 80.8 71.3 76.4 66.2 82.2 64.8 67.1 61.3 61.5
Other nondurable goods......... 32.4 29.1 36.0 37.7 30.8 31.2 31.3 36.4 22.9 31.2 32.8 29.6 35.2 34.1 34.8 40.0 40.5 34.5 36.9 38.9 35.3
Wholesale trade.................... 142.7 149.8 147.6 125.4 154.7 148.4 139.3 128.6 118.1 145.0 179.0 157.1 145.3 140.4 146.2 158.6 144.3 116.9 141.9 98.3 90.3
Retail trade....................... 154.5 159.8 171.8 179.1 157.4 159.7 156.2 144.6 145.9 157.2 160.6 175.4 181.0 168.7 169.6 168.1 176.1 171.4 185.1 183.8 179.6
Transportation and warehousing..... 50.6 60.4 61.2 56.1 58.0 43.5 45.1 55.6 55.7 65.6 67.0 53.2 62.2 59.3 63.2 60.1 63.3 57.3 54.1 49.7 59.2
Information........................ 125.4 114.8 137.2 137.6 127.3 127.2 127.4 119.7 110.6 115.6 114.1 118.8 126.9 138.3 141.9 141.7 140.6 135.7 132.3 141.9 138.2
Other nonfinancial................. 388.5 403.5 371.3 355.0 393.6 393.7 388.5 378.0 376.8 379.1 432.1 426.2 353.4 374.1 386.5 371.1 363.2 352.5 346.9 357.3 386.6
Rest of the world...................... 411.8 397.5 385.0 394.7 399.9 411.0 418.5 418.0 403.2 388.9 407.2 390.8 389.1 372.7 376.5 401.6 365.9 389.0 388.4 435.6 426.3
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Note. Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).
Source: U.S. Bureau of Economic Analysis
Table 12B. Corporate Profits by Industry: Change From Preceding Period
[Billions of dollars]
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 ----------------------------------------------------------------------Change from preceding period----------------------------------------------------------------------
-----------------2013----------------- -----------------2014----------------- -----------------2015----------------- -----------------2016----------------- 2017
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Corporate profits with inventory
valuation and capital consumption
adjustments....................... 34.7 107.7 -23.1 -44.0 15.9 18.8 15.9 43.6 -93.5 164.4 47.6 35.3 -56.5 -0.4 -39.3 -152.5 57.4 -44.1 104.6 53.9 -46.2
Domestic industries.................... 33.2 122.0 -10.6 -53.8 20.7 7.7 8.4 44.0 -78.7 178.7 29.3 51.7 -54.7 16.0 -43.1 -177.7 93.2 -67.3 105.3 6.7 -36.9
Financial............................ -46.7 54.9 10.3 -2.0 -40.7 5.7 17.1 31.4 8.2 46.9 -64.2 40.3 21.1 23.2 -68.2 -15.6 -29.8 39.6 62.6 27.2 -40.7
Nonfinancial......................... 79.9 67.1 -20.9 -51.7 61.4 2.0 -8.7 12.6 -86.9 131.8 93.5 11.4 -75.8 -7.1 25.0 -162.0 123.0 -106.9 42.6 -20.5 3.8
Rest of the world...................... 1.5 -14.3 -12.6 9.8 -4.8 11.0 7.5 -0.5 -14.8 -14.3 18.3 -16.4 -1.7 -16.4 3.8 25.1 -35.8 23.2 -0.7 47.3 -9.3
Receipts from the rest of the world 17.8 18.4 -33.3 18.3 2.1 11.8 3.4 7.0 3.9 0.0 12.8 -7.5 -31.7 5.8 1.6 -30.1 5.0 36.6 -0.2 25.1 5.4
Less: Payments to the rest of the
world............................... 16.3 32.7 -20.7 8.6 6.9 0.8 -4.1 7.5 18.7 14.3 -5.5 8.9 -30.0 22.2 -2.2 -55.2 40.8 13.4 0.4 -22.2 14.7
Corporate profits with inventory
valuation adjustment.............. 42.8 93.8 -42.2 -49.3 33.7 16.4 12.4 43.4 -103.0 164.0 45.4 33.1 -66.0 -5.3 -41.7 -159.9 63.9 -45.2 99.5 52.4 -37.5
Domestic industries.................... 41.3 108.1 -29.7 -59.0 38.5 5.3 4.9 43.8 -88.2 178.3 27.1 49.5 -64.2 11.1 -45.5 -185.0 99.7 -68.4 100.1 5.1 -28.2
Financial............................ -49.6 54.5 13.9 4.0 -40.9 4.1 15.7 30.8 7.7 48.3 -63.4 41.1 21.0 24.5 -66.4 -13.7 -28.3 41.2 63.4 28.0 -41.1
Federal Reserve banks.............. 7.9 23.8 -2.7 -8.8 0.1 5.0 9.0 11.0 7.0 4.7 -0.3 -1.9 -5.6 3.8 3.2 -4.4 -2.7 -4.3 -3.5 -1.5 2.4
Other financial.................... -57.6 30.7 16.7 12.7 -41.0 -0.9 6.7 19.9 0.7 43.6 -63.0 43.0 26.6 20.7 -69.6 -9.3 -25.6 45.5 66.9 29.4 -43.5
Nonfinancial......................... 90.9 53.5 -43.6 -63.0 79.4 1.3 -10.8 13.0 -95.9 130.0 90.4 8.4 -85.2 -13.4 20.9 -171.3 128.0 -109.6 36.7 -22.8 12.8
Utilities.......................... 14.4 4.6 -9.7 -2.5 4.6 14.3 0.6 -2.5 6.3 -8.3 1.3 7.9 -0.3 -8.4 -7.2 -16.2 18.8 -5.6 -1.0 5.0 6.5
Manufacturing...................... 33.8 22.4 -34.9 -24.5 13.0 5.5 4.5 45.6 -82.7 83.0 -1.3 22.7 -23.2 -17.0 1.5 -147.4 121.3 -50.3 11.4 1.4 -16.4
Durable goods.................... 17.7 11.1 -11.6 -6.2 13.7 7.0 7.8 2.7 -19.7 20.5 14.8 1.3 -21.1 8.4 -11.0 -19.6 19.7 -21.8 8.2 17.9 -15.8
Fabricated metal products...... 0.3 0.2 -0.2 -3.6 1.8 -0.2 -1.9 -1.0 0.5 1.9 1.8 -3.3 2.1 -1.2 -1.1 0.8 -0.5 -6.0 2.7 1.3 -4.6
Machinery...................... 2.1 0.4 -10.4 -6.4 -0.2 7.4 -1.4 3.1 -7.3 5.9 -0.7 0.4 -4.8 -5.3 -5.3 -1.9 -0.3 -1.7 0.8 0.5 5.4
Computer and electronic
products...................... 4.3 1.6 0.7 -4.0 4.8 -0.2 3.1 1.0 -3.4 2.6 2.4 -2.0 2.2 -1.6 1.1 -5.0 5.1 -8.8 2.1 0.7 -6.0
Electrical equipment,
appliances, and components.... 7.7 -5.0 5.4 4.1 2.1 1.8 4.8 -1.2 -4.8 -2.4 -0.6 -0.1 3.7 1.8 1.5 2.1 -1.3 1.7 1.9 1.8 -3.8
Motor vehicles, bodies and
trailers, and parts........... -0.6 9.3 -4.3 0.1 1.3 -2.5 3.3 5.1 -1.8 4.7 3.6 3.9 -12.7 7.1 -2.4 -6.3 8.0 2.2 -9.3 -2.9 -0.6
Other durable goods............ 3.9 4.6 -2.7 3.6 4.0 0.8 -0.1 -4.4 -2.9 7.9 8.4 2.4 -11.6 7.6 -4.8 -9.2 8.8 -9.2 9.9 16.5 -6.1
Nondurable goods................. 16.2 11.3 -23.3 -18.3 -0.8 -1.5 -3.3 42.9 -63.0 62.5 -16.1 21.4 -2.1 -25.4 12.5 -127.8 101.6 -28.6 3.3 -16.5 -0.6
Food and beverage and tobacco
products...................... 10.1 4.5 12.8 4.3 4.4 7.6 6.9 -1.2 -17.1 17.7 6.3 2.9 7.1 -9.1 6.5 -1.7 2.4 4.8 -1.1 -3.1 -11.4
Petroleum and coal products.... -2.3 10.6 -41.2 -19.5 -4.1 -12.4 -11.8 28.3 -7.3 8.8 -6.6 9.3 -12.6 -5.7 0.1 -121.0 82.7 -10.0 -0.3 -9.8 14.2
Chemical products.............. 6.3 -0.4 -1.9 -4.9 -1.1 2.9 1.5 10.6 -25.0 27.7 -17.5 12.3 -2.2 -9.5 5.1 -10.2 15.9 -17.3 2.2 -5.7 0.1
Other nondurable goods......... 2.0 -3.4 6.9 1.7 0.1 0.4 0.1 5.2 -13.6 8.3 1.6 -3.2 5.6 -1.0 0.7 5.1 0.6 -6.0 2.4 2.1 -3.6
Wholesale trade.................... 7.5 7.1 -2.2 -22.3 13.8 -6.4 -9.1 -10.8 -10.5 26.9 34.0 -21.9 -11.8 -4.9 5.8 12.4 -14.3 -27.4 25.0 -43.6 -8.0
Retail trade....................... 0.4 5.3 12.1 7.2 -5.3 2.3 -3.4 -11.6 1.2 11.3 3.5 14.7 5.6 -12.3 0.9 -1.5 8.0 -4.7 13.7 -1.3 -4.2
Transportation and warehousing..... -3.3 9.8 0.9 -5.1 7.8 -14.5 1.6 10.5 0.1 9.9 1.4 -13.8 9.1 -2.9 3.9 -3.1 3.2 -6.0 -3.3 -4.3 9.4
Information........................ 24.9 -10.7 22.4 0.4 27.7 -0.1 0.2 -7.7 -9.1 5.0 -1.5 4.8 8.1 11.4 3.6 -0.2 -1.1 -4.9 -3.4 9.6 -3.7
Other nonfinancial................. 13.2 15.1 -32.2 -16.3 17.7 0.2 -5.2 -10.5 -1.2 2.3 53.0 -6.0 -72.7 20.7 12.3 -15.3 -7.9 -10.7 -5.7 10.5 29.3
Rest of the world...................... 1.5 -14.3 -12.6 9.8 -4.8 11.0 7.5 -0.5 -14.8 -14.3 18.3 -16.4 -1.7 -16.4 3.8 25.1 -35.8 23.2 -0.7 47.3 -9.3
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Note. Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).
Source: U.S. Bureau of Economic Analysis
Table 12C. Revisions to Corporate Profits by Industry
[Billions of dollars]
---------------------------------------------------------------------------------------------------------------------------------------------------------------
----------------------------Billions of dollars---------------------------- ----Revisions as a percentage of----
----------Revised estimates---------- --Revisions to previously published-- -------- previously published--------
2014 2015 2016 2014 2015 2016 2014 2015 2016
---------------------------------------------------------------------------------------------------------------------------------------------------------------
Corporate profits with inventory
valuation and capital consumption
adjustments........................ 2,140.6 2,117.5 2,073.5 -11.5 29.4 -12.4 -0.5 1.4 -0.6
Domestic industries..................... 1,743.0 1,732.5 1,678.7 2.0 30.2 2.9 0.1 1.8 0.2
Financial............................. 446.3 456.7 454.6 2.2 4.0 -18.5 0.5 0.9 -3.9
Nonfinancial.......................... 1,296.7 1,275.8 1,224.1 -0.2 26.2 21.5 0.0 2.1 1.8
Rest of the world....................... 397.5 385.0 394.7 -13.5 -0.8 -15.3 -3.3 -0.2 -3.7
Receipts from the rest of the world... 686.4 653.1 671.4 -5.3 1.4 -2.7 -0.8 0.2 -0.4
Less: Payments to the rest of the
world................................ 288.9 268.1 276.7 8.2 2.2 12.6 2.9 0.8 4.8
Corporate profits with inventory
valuation adjustment............... 2,253.2 2,210.9 2,161.6 -12.8 18.5 -27.9 -0.6 0.8 -1.3
Domestic industries..................... 1,855.6 1,826.0 1,766.9 0.7 19.3 -12.6 0.0 1.1 -0.7
Financial............................. 483.9 497.9 501.8 3.7 4.6 -12.7 0.8 0.9 -2.5
Federal Reserve banks............... 103.5 100.7 92.0 0.0 0.0 -18.0 0.0 0.0 -16.4
Other financial..................... 380.5 397.1 409.9 3.7 4.6 5.3 1.0 1.2 1.3
Nonfinancial.......................... 1,371.7 1,328.1 1,265.1 -3.0 14.7 0.1 -0.2 1.1 0.0
Utilities........................... 31.5 21.8 19.3 -1.8 15.1 13.8 -5.5 223.8 250.3
Manufacturing....................... 452.0 417.1 392.6 2.2 4.4 9.7 0.5 1.1 2.5
Durable goods..................... 230.0 218.4 212.2 -8.3 -17.9 -6.9 -3.5 -7.6 -3.1
Nondurable goods.................. 222.0 198.7 180.4 10.5 22.3 16.5 5.0 12.7 10.1
Wholesale trade..................... 149.8 147.6 125.4 3.3 -2.3 -6.1 2.2 -1.6 -4.6
Retail trade........................ 159.8 171.8 179.1 -8.0 -6.9 -8.0 -4.8 -3.9 -4.3
Transportation and warehousing...... 60.4 61.2 56.1 0.9 -6.9 -7.2 1.5 -10.1 -11.3
Information......................... 114.8 137.2 137.6 -2.6 17.1 4.7 -2.2 14.2 3.5
Other nonfinancial.................. 403.5 371.3 355.0 3.1 -5.8 -6.8 0.8 -1.5 -1.9
Rest of the world....................... 397.5 385.0 394.7 -13.5 -0.8 -15.3 -3.3 -0.2 -3.7
Corporate profits before tax without
inventory valuation and capital
consumption adjustments................ 2,249.1 2,158.5 2,158.9 -13.8 21.0 -36.4 -0.6 1.0 -1.7
Addenda:
Corporate profits after tax with
inventory valuation and capital
consumption adjustments.............. 1,635.3 1,610.0 1,602.4 15.9 75.8 60.0 1.0 4.9 3.9
Net cash flow with inventory
valuation adjustment................. 2,111.3 2,098.4 2,179.3 3.2 15.3 47.1 0.2 0.7 2.2
Undistributed profits with
inventory valuation and capital
consumption adjustments............ 648.9 570.1 620.6 0.2 7.2 46.1 0.0 1.3 8.0
Consumption of fixed capital........ 1,465.7 1,525.1 1,563.2 3.0 8.1 1.0 0.2 0.5 0.1
Less: Capital transfers paid (net) 3.3 -3.2 4.4 0.0 0.0 0.0 --- --- ---
---------------------------------------------------------------------------------------------------------------------------------------------------------------
Source: U.S. Bureau of Economic Analysis
Table 13. Gross Value Added of Nonfinancial Domestic Corporate Business
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 ------------------------------------------------------------------Seasonally adjusted at annual rates------------------------------------------------------------------
-----------------2013----------------- -----------------2014----------------- -----------------2015----------------- -----------------2016----------------- 2017
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Billions of dollars
Gross value added of nonfinancial
corporate business...................... 8,305.2 8,716.9 9,059.3 9,165.4 8,217.4 8,289.6 8,322.6 8,391.2 8,464.9 8,649.7 8,821.1 8,931.8 8,975.1 9,036.1 9,106.2 9,120.1 9,145.2 9,112.4 9,217.3 9,186.7 9,293.0
Consumption of fixed capital................. 1,228.2 1,285.7 1,336.1 1,364.9 1,209.2 1,222.3 1,233.5 1,247.6 1,262.4 1,278.0 1,293.3 1,309.1 1,322.2 1,331.9 1,342.8 1,347.3 1,353.9 1,362.6 1,367.7 1,375.6 1,399.5
Net value added.............................. 7,077.0 7,431.2 7,723.3 7,800.5 7,008.2 7,067.3 7,089.1 7,143.5 7,202.6 7,371.7 7,527.7 7,622.7 7,652.8 7,704.1 7,763.3 7,772.8 7,791.3 7,749.9 7,849.7 7,811.0 7,893.5
Compensation of employees.................. 4,749.7 5,004.2 5,269.3 5,406.9 4,681.1 4,741.6 4,770.2 4,805.8 4,943.2 4,965.6 5,016.8 5,091.2 5,196.3 5,245.6 5,275.7 5,359.6 5,343.4 5,411.2 5,457.1 5,415.9 5,499.3
Wages and salaries....................... 3,955.2 4,182.1 4,412.3 4,539.1 3,898.8 3,948.6 3,972.2 4,001.5 4,131.7 4,150.2 4,192.4 4,253.9 4,352.0 4,392.7 4,417.6 4,487.0 4,486.5 4,542.7 4,580.7 4,546.6 4,613.7
Supplements to wages and salaries........ 794.4 822.1 857.0 867.8 782.3 793.0 798.0 804.3 811.5 815.4 824.3 837.3 844.4 852.9 858.1 872.6 856.9 868.5 876.4 869.3 885.6
Taxes on production and imports less
subsidies................................. 721.5 746.6 764.6 783.0 716.3 718.3 724.4 727.1 733.3 744.9 751.4 756.7 756.3 763.0 765.9 773.2 775.3 776.0 788.0 792.8 795.8
Net operating surplus...................... 1,605.8 1,680.4 1,689.4 1,610.6 1,610.8 1,607.4 1,594.5 1,610.6 1,526.1 1,661.2 1,759.5 1,774.8 1,700.2 1,695.5 1,721.7 1,640.0 1,672.7 1,562.7 1,604.6 1,602.3 1,598.4
Net interest and miscellaneous payments 281.6 291.6 308.9 300.9 286.0 280.2 279.0 281.0 283.8 288.4 294.4 299.7 305.3 309.4 311.6 309.4 304.1 301.6 299.4 298.6 309.7
Business current transfer payments
(net)................................... 94.7 92.1 104.6 85.6 95.5 95.9 92.9 94.4 94.0 92.8 91.6 90.0 85.7 84.1 83.1 165.6 80.6 79.9 81.4 100.4 81.5
Corporate profits with inventory
valuation and capital consumption
adjustments............................. 1,229.6 1,296.7 1,275.8 1,224.1 1,229.3 1,231.3 1,222.6 1,235.2 1,148.3 1,280.1 1,373.6 1,385.0 1,309.2 1,302.0 1,327.1 1,165.0 1,288.0 1,181.2 1,223.8 1,203.4 1,207.2
Taxes on corporate income.............. 283.6 291.8 281.1 274.1 282.4 280.4 282.1 289.4 285.4 297.6 298.2 285.8 297.5 310.6 283.6 232.6 263.1 272.6 277.5 283.5 277.5
Profits after tax with inventory
valuation and capital consumption
adjustments........................... 946.0 1,005.0 994.7 950.0 946.9 950.9 940.5 945.8 862.9 982.4 1,075.4 1,099.2 1,011.6 991.5 1,043.4 932.4 1,025.0 908.6 946.3 919.9 929.7
Net dividends........................ 531.9 598.3 651.8 685.2 520.2 508.5 609.8 489.1 606.5 604.6 572.0 610.1 636.2 638.3 660.6 671.9 675.6 678.8 680.6 705.9 696.2
Undistributed profits with inventory
valuation and capital consumption
adjustments......................... 414.1 406.6 343.0 264.8 426.6 442.4 330.7 456.7 256.4 377.8 503.3 489.1 375.4 353.2 382.8 260.6 349.4 229.9 265.7 214.0 233.5
Addenda:
Profits before tax (without inventory
valuation and capital consumption
adjustments).............................. 1,314.8 1,367.6 1,275.7 1,262.4 1,321.6 1,293.2 1,309.7 1,334.9 1,283.3 1,357.2 1,423.5 1,406.5 1,296.0 1,347.6 1,321.0 1,138.3 1,277.5 1,261.2 1,254.4 1,256.4 1,326.8
Profits after tax (without inventory
valuation and capital consumption
adjustments).............................. 1,031.2 1,075.9 994.6 988.2 1,039.1 1,012.8 1,027.6 1,045.5 997.9 1,059.5 1,125.3 1,120.7 998.5 1,037.0 1,037.3 905.7 1,014.4 988.6 976.9 973.0 1,049.3
Inventory valuation adjustment............. 3.3 4.1 52.4 2.7 -2.2 27.4 0.1 -12.1 -56.4 -0.3 23.8 49.2 74.5 9.6 57.1 68.3 57.2 -36.1 7.3 -17.5 -75.0
Capital consumption adjustment............. -88.6 -75.0 -52.3 -41.0 -90.1 -89.3 -87.2 -87.6 -78.6 -76.8 -73.8 -70.8 -61.4 -55.1 -50.9 -41.6 -46.6 -43.8 -37.9 -35.6 -44.6
Billions of chained (2009) dollars
Gross value added of nonfinancial
corporate business\1\................... 7,752.5 8,064.8 8,358.1 8,471.7 7,700.0 7,772.3 7,754.5 7,783.1 7,869.4 8,005.4 8,139.6 8,245.0 8,338.2 8,319.5 8,371.3 8,403.3 8,426.8 8,413.3 8,565.5 8,481.3 8,564.7
Consumption of fixed capital\2\.............. 1,177.1 1,215.0 1,255.8 1,292.5 1,164.4 1,173.0 1,181.2 1,189.9 1,199.0 1,209.3 1,220.2 1,231.2 1,241.2 1,250.8 1,260.6 1,270.5 1,280.1 1,288.9 1,296.9 1,304.1 1,313.3
Net value added\3\........................... 6,575.3 6,849.9 7,102.3 7,179.3 6,535.6 6,599.3 6,573.3 6,593.2 6,670.4 6,796.0 6,919.4 7,013.7 7,096.9 7,068.8 7,110.7 7,132.8 7,146.7 7,124.4 7,268.7 7,177.2 7,251.5
Dollars; quarters seasonally adjusted
Price, costs, and profits per unit of real
gross value added of nonfinancial corporate
business:
Price per unit of real gross value added
of nonfinancial corporate business\4\..... 1.071 1.081 1.084 1.082 1.067 1.067 1.073 1.078 1.076 1.080 1.084 1.083 1.076 1.086 1.088 1.085 1.085 1.083 1.076 1.083 1.085
Compensation of employees (unit labor
cost)..................................... 0.613 0.620 0.630 0.638 0.608 0.610 0.615 0.617 0.628 0.620 0.616 0.617 0.623 0.631 0.630 0.638 0.634 0.643 0.637 0.639 0.642
Unit nonlabor cost......................... 0.300 0.300 0.301 0.299 0.300 0.298 0.300 0.302 0.302 0.300 0.299 0.298 0.296 0.299 0.299 0.309 0.298 0.300 0.296 0.303 0.302
Consumption of fixed capital............. 0.158 0.159 0.160 0.161 0.157 0.157 0.159 0.160 0.160 0.160 0.159 0.159 0.159 0.160 0.160 0.160 0.161 0.162 0.160 0.162 0.163
Taxes on production and imports less
subsidies plus business current
transfer payments (net)................. 0.105 0.104 0.104 0.103 0.105 0.105 0.105 0.106 0.105 0.105 0.104 0.103 0.101 0.102 0.101 0.112 0.102 0.102 0.101 0.105 0.102
Net interest and miscellaneous payments 0.036 0.036 0.037 0.036 0.037 0.036 0.036 0.036 0.036 0.036 0.036 0.036 0.037 0.037 0.037 0.037 0.036 0.036 0.035 0.035 0.036
Corporate profits with inventory valuation
and capital consumption adjustments (unit
profits from current production).......... 0.159 0.161 0.153 0.144 0.160 0.158 0.158 0.159 0.146 0.160 0.169 0.168 0.157 0.157 0.159 0.139 0.153 0.140 0.143 0.142 0.141
Taxes on corporate income................ 0.037 0.036 0.034 0.032 0.037 0.036 0.036 0.037 0.036 0.037 0.037 0.035 0.036 0.037 0.034 0.028 0.031 0.032 0.032 0.033 0.032
Profits after tax with inventory
valuation and capital consumption
adjustments............................. 0.122 0.125 0.119 0.112 0.123 0.122 0.121 0.122 0.110 0.123 0.132 0.133 0.121 0.119 0.125 0.111 0.122 0.108 0.110 0.108 0.109
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1. The current-dollar gross value added is deflated using the gross value added chain-type price index for nonfinancial industries from the GDP-by-industry accounts. For periods when this price index is not available, the chain-type price index for GDP
goods and structures is used.
2. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product of the chain-type quantity index and the 2009 current-dollar value of the corresponding series, divided by 100.
3. Chained-dollar net value added of nonfinancial corporate business is the difference between the gross value added and the consumption of fixed capital.
4. The deflator for gross value added of nonfinancial corporate business divided by 100.
Note. Estimates in this table are based on the 2002 North American Industry Classification System (NAICS).
Source: U.S. Bureau of Economic Analysis
Appendix Table A. Real Gross Domestic Product and Related Aggregates and Price Indexes: Percent Change From Preceding Period and Contributions to Percent Change
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2013 2014 2015 2016 -----------------------------------------Seasonally adjusted at annual rates-----------------------------------------
2013 -------------2014------------- -------------2015------------- -------------2016------------- -----2017-----
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Percent change from preceding
period
Gross domestic product (GDP) and
related aggregates:
GDP................................... 1.7 2.6 2.9 1.5 4.0 -0.9 4.6 5.2 2.0 3.2 2.7 1.6 0.5 0.6 2.2 2.8 1.8 1.2 2.6
Goods................................. 4.5 3.6 3.1 1.4 10.0 -7.8 9.2 10.6 -1.4 2.8 2.5 3.1 -0.7 -2.2 4.1 4.7 3.0 -1.6 5.6
Services.............................. 0.1 1.7 2.6 1.7 1.8 1.9 1.6 3.1 3.1 3.5 1.9 1.4 2.2 0.7 2.4 2.2 1.0 1.5 2.0
Structures............................ 3.4 5.1 4.0 0.4 -2.6 5.5 11.6 1.4 6.9 3.1 10.3 -1.7 -8.0 10.0 -5.2 0.1 3.4 10.3 -3.3
Motor vehicle output.................. 5.3 7.6 5.4 1.6 25.5 5.0 12.6 13.0 -4.7 5.4 10.0 16.7 -17.1 2.8 9.4 2.7 -1.9 -7.3 -0.3
GDP excluding motor vehicle output.... 1.6 2.4 2.8 1.5 3.4 -1.1 4.4 5.0 2.2 3.2 2.5 1.2 1.1 0.5 2.0 2.8 1.9 1.5 2.7
Final sales of computers\1\........... 10.8 11.2 6.3 13.0 12.7 15.7 38.3 0.2 -21.6 11.8 31.5 1.2 8.5 38.9 12.3 -7.9 -7.8 23.3 18.8
GDP excluding final sales of
computers............................ 1.6 2.5 2.8 1.4 3.9 -1.0 4.5 5.2 2.1 3.2 2.6 1.6 0.5 0.5 2.2 2.8 1.8 1.2 2.5
Research and development.............. 2.1 0.6 1.2 4.9 -3.7 2.7 -1.0 3.7 10.0 -9.2 4.0 1.8 7.4 3.3 11.2 2.2 -1.1 7.1 2.5
GDP excluding research and
development.......................... 1.7 2.6 2.9 1.4 4.2 -1.0 4.8 5.2 1.8 3.6 2.7 1.6 0.3 0.5 2.0 2.8 1.8 1.1 2.6
Farm gross value added\2\............. 21.2 -1.3 7.8 12.4 -9.2 -21.3 3.9 -1.6 18.2 4.6 -0.2 29.8 -0.7 26.6 14.4 3.5 -3.8 -32.4 -26.7
Nonfarm business gross value
added\3\............................. 2.0 3.3 3.4 1.5 5.6 -1.4 5.8 6.9 2.3 4.0 3.3 1.3 0.3 0.2 2.5 3.3 2.2 1.8 3.4
Price indexes:
GDP................................... 1.6 1.8 1.1 1.3 2.1 1.6 2.2 1.9 0.6 -0.1 2.2 1.4 0.8 0.3 2.4 1.4 2.0 2.0 1.0
GDP excluding food and energy\4\...... 1.7 1.9 1.3 1.6 2.3 1.8 1.8 1.9 1.2 0.6 1.7 1.5 1.1 1.3 2.2 1.9 1.6 2.4 1.1
GDP excluding final sales of
computers............................ 1.7 1.8 1.1 1.3 2.1 1.6 2.2 1.9 0.6 -0.1 2.2 1.4 0.8 0.3 2.5 1.4 2.0 2.1 1.1
Gross domestic purchases.............. 1.4 1.7 0.4 1.0 2.1 2.2 1.6 1.5 0.2 -1.3 1.4 1.1 0.2 0.1 2.1 1.5 1.8 2.6 0.8
Gross domestic purchases excluding
food and energy\4\................... 1.5 1.8 1.1 1.4 2.2 1.8 1.7 1.8 1.2 0.4 1.4 1.3 1.0 1.1 2.0 1.7 1.4 2.3 1.3
Gross domestic purchases excluding
final sales of computers to domestic
purchasers........................... 1.4 1.7 0.5 1.0 2.1 2.2 1.7 1.6 0.3 -1.3 1.5 1.1 0.3 0.2 2.2 1.5 1.9 2.6 0.9
Personal consumption expenditures
(PCE)................................ 1.3 1.5 0.3 1.2 1.7 2.1 1.8 1.2 -0.3 -1.6 1.7 1.3 0.2 0.6 2.1 1.7 2.0 2.2 0.3
PCE excluding food and energy\4\...... 1.5 1.6 1.3 1.8 1.8 1.5 2.0 1.6 1.1 0.9 1.7 1.5 1.2 2.1 2.0 2.0 1.3 1.8 0.9
Market-based PCE\5\................... 1.0 1.2 -0.1 0.8 1.3 1.8 1.3 0.9 -0.8 -2.0 1.6 1.0 -0.2 0.1 1.7 1.4 1.9 2.3 -0.4
Market-based PCE excluding food and
energy\5\............................ 1.2 1.2 1.1 1.4 1.2 1.2 1.5 1.3 0.7 0.7 1.5 1.2 1.0 1.7 1.5 1.6 1.1 1.9 0.2
Contributions to percent change in
real gross domestic product
Percent change at annual rate:
Gross domestic product.............. 1.7 2.6 2.9 1.5 4.0 -0.9 4.6 5.2 2.0 3.2 2.7 1.6 0.5 0.6 2.2 2.8 1.8 1.2 2.6
Percentage points at annual rates:
Goods................................... 1.36 1.10 0.93 0.41 3.02 -2.46 2.75 3.18 -0.41 0.85 0.77 0.93 -0.21 -0.64 1.21 1.39 0.88 -0.47 1.62
Services................................ 0.08 1.08 1.61 1.04 1.14 1.14 0.98 1.92 1.90 2.14 1.18 0.84 1.37 0.46 1.46 1.39 0.61 0.91 1.22
Structures.............................. 0.25 0.39 0.32 0.04 -0.20 0.41 0.86 0.11 0.53 0.25 0.80 -0.15 -0.67 0.76 -0.43 0.01 0.27 0.80 -0.27
Motor vehicle output.................... 0.14 0.21 0.15 0.05 0.63 0.14 0.34 0.36 -0.14 0.16 0.28 0.47 -0.56 0.08 0.26 0.08 -0.06 -0.22 -0.01
Final sales of computers................ 0.04 0.04 0.02 0.05 0.05 0.06 0.14 0.00 -0.10 0.04 0.11 0.01 0.03 0.13 0.05 -0.03 -0.03 0.08 0.07
Research and development................ 0.05 0.02 0.03 0.12 -0.10 0.07 -0.02 0.09 0.24 -0.24 0.10 0.05 0.18 0.08 0.27 0.06 -0.03 0.18 0.06
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1. For some components of final sales of computers, includes computer parts.
2. Farm output less intermediate goods and services purchased.
3. Consists of GDP less gross value added of farm, of households and institutions, and of general government.
4. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services.
5. This index is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most implicit prices (for example, financial services
furnished without payment) and the final consumption expenditures of nonprofit institutions serving households.
See 'Explanatory Note' at the end of the tables.
Source: U.S. Bureau of Economic Analysis
Explanatory Note: NIPA Measures of Quantities and Prices
Current-dollar GDP is a measure of the market value of goods, services, and structures produced
in the economy in a particular period. Changes in current-dollar GDP can be decomposed into quantity
and price components. Quantities, or "real" measures, and prices are expressed as index numbers with the
reference year -- at present, the year 2009 -- equal to 100.
Annual changes in quantities and prices are calculated using a Fisher formula that incorporates
weights from two adjacent years. (Quarterly changes in quantities and prices are calculated using a Fisher
formula that incorporates weights from two adjacent quarters; quarterly indexes are adjusted for
consistency to the annual indexes before percent changes are calculated.) For example, the 2008-09
annual percent change in real GDP uses prices for 2008 and 2009 as weights, and the 2008-09 annual
percent change in GDP prices uses quantities for 2008 and 2009 as weights. These annual changes are
"chained" (multiplied) together to form time series of quantity and price indexes. Percent changes in
Fisher indexes are not affected by the choice of reference year. (BEA also publishes a measure of the
price level known as the implicit price deflator (IPD), which is calculated as the ratio of the current-dollar
value to the corresponding chained-dollar value, multiplied by 100. The values of the IPD are very close
to the values of the corresponding "chain-type" price index.)
Index numbers of quantity and price indexes for GDP and its major components are presented in
this release in tables 5 and 6. Percent changes from the preceding period are presented in tables 1, 4, 7, 8,
and appendix table A. Contributions by major components to the percent change in real GDP are
presented in table 2.
Measures of real GDP and its major components are also presented in dollar-denominated form,
designated "chained (2009) dollar estimates." For most series, these estimates, which are presented in
table 3, are computed by multiplying the current-dollar value in 2009 by a corresponding quantity index
number and then dividing by 100. For example, if a current-dollar GDP component equaled $100 in 2009
and if real output for this component increased 10 percent in 2010, then the chained (2009) dollar value of
this component in 2010 would be $110 (= $100 x 110 / 100). Percent changes calculated from
chained-dollar estimates and from chain-type quantity indexes are the same; any differences will be small
and due to rounding.
Chained-dollar values for the detailed GDP components will not necessarily sum to the chained-dollar
estimate of GDP (or to any intermediate aggregate). This is because the relative prices used as weights
for any period other than the reference year differ from those of the reference year. A measure of the
extent of such differences is provided by a �residual� line, which indicates the difference between GDP
(or other major aggregate) and the sum of the most detailed components in the table. For periods close to
the reference year, when there usually has not been much change in the relative prices that are used as
weights, the residuals tend to be small, and the chained-dollar estimates can be used to approximate the
contributions to growth and to aggregate the detailed estimates. For periods further from the reference
year, the residuals tend to be larger, and the chained-dollar estimates are less useful for analyses of
contributions to growth. Thus, the contributions to percent change shown in table 2 provide a better
measure of the composition of GDP growth. In particular, for components for which relative prices are
changing rapidly, calculation of contributions using chained-dollar estimates may be misleading even just
a few years from the reference year.
Reference "Chained-Dollar Indexes: Issues, Tips on Their Use, and Upcoming Changes," November
2003 Survey, pp. 8-16.