Table 1.--Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period [Percent; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------ 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 I 94 II 94 III 94 IV 94 I 95 II 95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Gross domestic product (GDP). 3.5 4.2 3.5 1.7 -.2 3.3 2.4 4.0 2.7 3.7 4.5 4.3 3.6 5.7 2.2 5.1 1.5 .8 Personal consumption expenditures... 3.5 4.1 2.6 1.8 .1 3.2 3.0 3.8 3.0 3.3 3.7 4.9 3.9 3.5 3.1 4.1 1.5 4.0 Durable goods..................... 1.7 5.8 2.1 -.9 -6.6 5.3 8.2 7.6 4.6 5.6 6.6 11.3 5.3 3.5 4.4 12.4 -2.7 5.0 Nondurable goods.................. 2.4 3.2 2.7 1.4 -.4 1.9 2.9 3.8 3.0 2.9 2.9 4.0 5.0 3.4 3.6 4.3 2.1 2.9 Services.......................... 4.6 4.2 2.7 2.7 1.9 3.5 2.0 3.0 2.8 3.0 3.6 4.0 3.1 3.5 2.5 2.4 2.0 4.3 Gross private domestic investment... 2.5 2.7 3.7 -3.1 -8.6 8.5 8.7 13.2 3.0 9.0 11.5 11.7 17.4 25.2 -5.8 18.9 4.2 -11.1 Fixed investment.................. .0 3.6 2.7 -1.8 -6.9 6.5 8.1 9.1 6.0 9.3 8.5 11.8 5.9 10.2 4.3 10.7 9.2 -2.5 Nonresidential.................. -.1 5.4 5.5 .7 -4.9 3.4 8.4 8.9 9.8 10.0 10.7 12.7 4.7 8.1 7.3 17.0 16.0 2.5 Structures.................... -3.6 1.3 2.5 1.5 -11.0 -6.1 .8 .8 4.8 7.1 8.5 4.1 -15.4 21.5 -1.0 2.8 8.8 5.8 Equipment and software........ 1.7 7.5 7.0 .4 -2.0 7.4 11.3 11.9 11.5 11.0 11.5 15.8 12.5 4.0 10.3 22.1 18.4 1.5 Residential..................... .2 -.5 -4.1 -8.6 -12.8 16.3 7.3 9.7 -3.6 7.4 2.3 9.2 9.1 15.7 -3.0 -4.4 -7.7 -15.6 Change in private inventories..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports........................... 11.4 16.1 11.7 8.7 6.8 6.4 3.0 8.9 10.3 8.3 12.7 2.2 1.6 17.3 10.0 14.1 7.2 4.4 Goods........................... 11.1 18.8 12.6 8.2 7.1 6.8 3.0 9.7 11.9 8.7 14.5 2.1 -3.8 19.7 14.1 17.4 9.1 4.9 Services........................ 12.2 9.5 9.4 10.0 6.1 5.5 3.1 7.2 6.6 7.1 8.5 2.5 15.4 12.0 .7 6.3 2.7 3.1 Imports........................... 6.1 3.8 3.9 3.8 -.5 6.6 9.1 12.0 8.2 8.6 13.7 11.6 7.9 18.9 12.0 10.0 8.8 6.2 Goods........................... 4.6 4.1 4.2 3.0 -.1 9.3 10.1 13.3 9.0 9.4 14.2 11.7 8.1 22.7 14.7 12.4 7.0 8.4 Services........................ 12.6 2.7 2.8 7.6 -2.3 -4.0 4.7 5.8 4.1 4.8 11.2 10.8 6.9 2.3 -.4 -1.4 18.9 -4.5 Government consumption expenditures and gross investment............... 3.0 1.2 2.7 3.3 1.2 .6 -.9 .1 .5 1.1 2.3 1.7 -3.9 .7 8.0 -3.6 .8 1.9 Federal........................... 3.7 -1.8 1.3 2.0 -.3 -1.6 -3.9 -3.6 -2.7 -.9 -.1 -.9 -11.1 -4.1 13.9 -11.6 -1.4 .2 National defense................ 4.7 -.8 -.8 .0 -1.1 -4.9 -5.4 -4.8 -3.7 -1.3 -2.5 -1.9 -16.9 1.3 15.0 -19.1 -1.0 .1 Nondefense...................... .6 -5.2 8.3 8.3 2.0 7.2 -.4 -1.0 -.5 .0 4.6 1.0 3.0 -14.5 11.5 6.9 -2.4 .2 State and local................... 2.4 3.7 3.9 4.2 2.4 2.2 1.3 2.6 2.5 2.4 3.8 3.2 1.1 3.9 4.4 1.9 2.3 3.0 Addenda: Final sales of domestic product... 3.1 4.4 3.3 2.0 .0 3.1 2.3 3.4 3.2 3.7 4.0 4.3 2.0 3.6 3.9 3.9 2.2 2.3 Gross domestic purchases.......... 3.2 3.3 2.8 1.3 -.9 3.4 3.0 4.4 2.6 3.8 4.7 5.4 4.3 6.0 2.6 4.8 1.8 1.1 Final sales to domestic purchasers....................... 2.8 3.4 2.6 1.6 -.6 3.1 2.9 3.8 3.0 3.8 4.2 5.4 2.7 3.9 4.2 3.5 2.5 2.6 Gross national product (GNP)...... 3.4 4.3 3.5 1.9 -.3 3.3 2.4 3.9 2.8 3.6 4.3 4.1 4.0 5.5 2.2 5.1 1.9 1.0 Disposable personal income........ 2.3 4.4 2.5 2.2 .7 3.5 1.0 2.6 2.7 2.6 3.6 4.1 -3.1 6.8 3.1 5.5 1.6 -.4 Current-dollar measures: GDP............................. 6.5 7.7 7.5 5.7 3.2 5.6 5.1 6.2 4.9 5.6 6.2 5.5 5.5 7.6 4.7 7.0 4.5 2.5 Final sales of domestic product. 6.1 7.9 7.3 6.0 3.4 5.3 5.0 5.6 5.4 5.6 5.8 5.5 3.9 5.5 6.4 5.8 5.2 4.0 Gross domestic purchases........ 6.5 6.8 6.8 5.5 2.3 5.7 5.6 6.5 4.8 5.6 6.2 6.2 5.8 8.3 5.5 6.6 4.5 3.3 Final sales to domestic purchasers..................... 6.1 7.0 6.7 5.7 2.5 5.4 5.5 5.9 5.3 5.6 5.7 6.2 4.2 6.2 7.2 5.4 5.2 4.8 GNP............................. 6.4 7.8 7.5 5.9 3.1 5.5 5.1 6.1 4.9 5.5 6.0 5.4 6.0 7.4 4.6 7.0 4.9 2.7 Disposable personal income...... 6.0 8.5 7.0 6.9 4.2 6.3 3.8 4.7 5.0 4.7 5.4 5.1 -2.2 9.1 6.6 7.3 4.2 1.9 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ See "Explanatory Note" at the end of the tables. Table 1.--Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period--Continued [Percent; quarters seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------- III 95 IV 95 I 96 II 96 III 96 IV 96 I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 III 99 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP). 3.2 3.3 2.9 6.9 2.2 4.9 4.9 5.1 4.0 3.1 6.7 2.1 3.8 5.9 3.7 1.9 4.8 Personal consumption expenditures... 3.2 2.7 3.3 4.5 2.2 3.2 4.9 1.8 6.6 3.4 5.6 6.1 3.9 4.6 6.5 5.1 4.3 Durable goods..................... 9.5 3.4 4.1 13.0 -1.5 5.0 10.9 -1.5 20.2 5.0 16.9 11.2 4.1 20.4 12.4 9.1 7.1 Nondurable goods.................. 1.7 3.4 2.4 4.2 2.2 4.0 3.8 -.2 5.7 .3 5.8 6.7 2.4 5.0 8.9 3.3 3.6 Services.......................... 2.8 2.2 3.7 3.0 2.9 2.4 4.3 3.5 4.5 4.6 3.3 4.8 4.7 1.5 4.2 5.2 4.1 Gross private domestic investment... -3.3 12.5 7.1 22.5 16.5 .7 14.0 22.0 1.0 8.0 33.4 -4.7 10.4 11.5 3.6 -2.1 13.3 Fixed investment.................. 4.5 9.6 12.0 13.9 9.6 6.2 7.9 8.6 12.0 4.1 23.4 12.5 2.0 13.8 9.1 6.6 9.0 Nonresidential.................. 2.6 9.5 13.1 11.6 13.6 10.0 9.6 9.9 16.0 3.2 26.7 12.1 .0 15.3 7.8 7.0 14.9 Structures.................... -.3 -.8 10.8 10.5 7.5 23.0 8.0 -4.0 11.2 4.3 5.7 7.1 -6.6 5.8 -5.8 -5.3 -5.0 Equipment and software........ 3.6 13.1 14.0 12.0 15.7 5.9 10.1 15.2 17.7 2.8 34.7 13.8 2.4 18.6 12.5 11.2 21.7 Residential..................... 10.1 9.7 8.8 20.6 -1.0 -4.1 3.0 4.7 .6 6.6 14.0 13.6 8.0 9.8 12.9 5.5 -6.3 Change in private inventories..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports........................... 17.9 9.9 2.3 6.9 3.5 29.0 8.8 16.2 11.5 1.8 -1.5 -4.0 -1.7 16.1 -5.5 4.0 12.4 Goods........................... 15.4 11.0 4.9 4.3 7.9 24.3 14.4 18.3 13.0 3.5 -2.8 -8.8 1.6 19.4 -9.3 4.3 17.0 Services........................ 24.3 7.2 -4.0 13.5 -6.7 41.0 -3.5 11.1 7.6 -2.5 1.7 8.8 -8.8 8.6 4.1 3.2 2.5 Imports........................... 1.2 3.9 10.8 13.3 14.4 6.3 15.5 19.1 17.6 5.2 14.4 13.0 5.2 10.8 12.5 14.4 17.2 Goods........................... 1.0 3.5 11.9 15.2 14.9 7.5 14.6 21.2 17.0 5.2 14.0 13.6 4.9 12.8 12.6 15.5 20.6 Services........................ 2.6 6.4 5.6 4.1 11.8 .0 20.6 8.6 20.7 5.3 16.7 9.7 6.4 1.6 11.9 8.9 1.4 Government consumption expenditures and gross investment............... -.9 -4.8 3.3 7.5 -2.3 2.5 1.7 5.7 1.7 -.1 -1.0 6.0 1.3 2.9 5.1 1.3 3.3 Federal........................... -2.8 -16.1 9.6 8.7 -7.7 -1.3 -2.8 9.9 -1.3 -4.2 -9.8 11.9 -2.3 3.9 -.5 2.1 3.1 National defense................ -3.9 -13.5 7.0 7.7 -8.1 -2.4 -11.3 9.6 -.2 -2.4 -17.0 11.1 7.0 -2.9 -4.0 -2.6 9.9 Nondefense...................... -.5 -21.2 14.9 10.8 -6.8 .8 16.0 10.3 -3.6 -7.7 5.4 13.2 -17.4 17.8 6.1 10.9 -7.8 State and local................... .3 2.8 -.3 6.9 1.1 4.9 4.4 3.4 3.5 2.4 4.1 3.0 3.3 2.3 8.2 .9 3.4 Addenda: Final sales of domestic product... 4.4 2.9 3.6 5.7 1.2 5.8 4.0 3.1 5.8 2.4 5.1 5.1 2.4 6.2 4.6 3.4 4.1 Gross domestic purchases.......... 1.5 2.7 3.9 7.7 3.5 2.7 5.7 5.6 4.8 3.5 8.6 4.1 4.6 5.5 5.8 3.2 5.6 Final sales to domestic purchasers....................... 2.7 2.3 4.6 6.4 2.5 3.5 4.8 3.5 6.5 2.9 7.0 7.1 3.2 5.8 6.7 4.7 4.9 Gross national product (GNP)...... 2.4 4.0 3.1 6.4 1.9 5.1 4.3 5.4 3.6 3.0 6.8 2.0 2.6 6.3 3.8 1.9 ..... Disposable personal income........ 2.8 2.9 2.7 2.1 4.6 1.7 4.4 4.2 3.6 4.3 4.0 3.8 4.5 4.8 4.1 3.2 2.5 Current-dollar measures: GDP............................. 5.0 5.3 5.4 8.3 4.0 6.4 7.4 6.7 5.2 4.3 7.7 3.4 5.4 7.0 5.7 3.3 5.8 Final sales of domestic product. 6.3 4.9 6.2 7.0 2.9 7.3 6.4 4.7 7.0 3.7 6.3 6.3 3.8 7.2 6.7 4.8 5.2 Gross domestic purchases........ 3.0 4.4 6.3 9.0 5.0 4.7 7.8 6.1 5.8 4.6 8.6 5.1 5.8 6.6 7.5 5.2 7.3 Final sales to domestic purchasers..................... 4.3 4.1 7.1 7.7 4.0 5.6 6.8 4.2 7.6 4.0 7.2 8.0 4.3 6.8 8.5 6.7 6.7 GNP............................. 4.2 6.0 5.6 7.7 3.6 6.6 6.8 7.0 4.8 4.2 7.8 3.3 4.1 7.4 5.8 3.3 ..... Disposable personal income...... 4.7 4.5 5.1 4.6 6.0 4.3 6.6 5.1 4.7 5.6 4.5 4.9 5.7 6.0 5.6 5.5 4.5 ----------------------------------------------------------------------------------------------------------------------------------------------------------- See "Explanatory Note" at the end of the tables. Table 1A.--Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period [Percent; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1959- 1959- 1992- 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 I 94 II 94 III 94 IV 94 98 92 98 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP). 3.4 3.4 3.6 3.5 4.2 3.5 1.7 -.2 3.3 2.4 4.0 2.7 3.7 4.5 4.3 3.6 5.7 2.2 5.1 Previously published....... 3.2 3.2 3.2 2.9 3.8 3.4 1.2 -.9 2.7 2.3 3.5 2.3 3.4 3.9 3.9 3.0 4.7 1.8 3.6 Personal consumption expenditures... 3.6 3.6 3.6 3.5 4.1 2.6 1.8 .1 3.2 3.0 3.8 3.0 3.3 3.7 4.9 3.9 3.5 3.1 4.1 Previously published.............. 3.4 3.4 3.4 3.1 3.9 2.3 1.7 -.6 2.8 2.9 3.3 2.7 3.2 3.4 4.9 3.8 3.0 2.3 3.2 Durable goods..................... 5.2 4.8 7.3 1.7 5.8 2.1 -.9 -6.6 5.3 8.2 7.6 4.6 5.6 6.6 11.3 5.3 3.5 4.4 12.4 Previously published............ 5.2 4.8 7.1 1.5 6.3 2.6 -.6 -6.4 5.8 7.2 7.1 5.0 6.3 6.8 10.2 6.4 3.8 4.3 11.0 Nondurable goods.................. 2.7 2.6 3.3 2.4 3.2 2.7 1.4 -.4 1.9 2.9 3.8 3.0 2.9 2.9 4.0 5.0 3.4 3.6 4.3 Previously published............ 2.4 2.4 2.6 1.9 2.8 2.3 1.0 -1.0 1.5 2.2 2.9 2.0 2.4 2.4 3.9 5.0 2.1 2.2 2.7 Services.......................... 3.9 4.0 3.1 4.6 4.2 2.7 2.7 1.9 3.5 2.0 3.0 2.8 3.0 3.6 4.0 3.1 3.5 2.5 2.4 Previously published............ 3.7 3.9 3.0 4.2 4.0 2.3 2.6 .8 2.9 2.5 2.7 2.5 3.0 3.2 4.3 2.7 3.3 2.0 1.9 Gross private domestic investment... 4.6 3.7 9.5 2.5 2.7 3.7 -3.1 -8.6 8.5 8.7 13.2 3.0 9.0 11.5 11.7 17.4 25.2 -5.8 18.9 Previously published.............. 4.2 3.3 9.1 1.2 .8 4.3 -5.6 -9.4 7.1 9.3 13.0 2.1 8.8 11.3 10.3 16.8 22.0 -6.1 13.3 Fixed investment.................. 4.5 3.7 8.8 .0 3.6 2.7 -1.8 -6.9 6.5 8.1 9.1 6.0 9.3 8.5 11.8 5.9 10.2 4.3 10.7 Previously published............ 4.1 3.3 8.4 -.7 2.4 1.7 -3.1 -8.0 5.7 7.6 8.6 5.5 8.8 8.3 11.4 3.2 11.9 4.2 7.0 Nonresidential.................. 5.4 4.6 10.1 -.1 5.4 5.5 .7 -4.9 3.4 8.4 8.9 9.8 10.0 10.7 12.7 4.7 8.1 7.3 17.0 Previously published.......... 4.9 4.1 9.5 -1.1 4.4 4.0 -.6 -6.4 1.9 7.6 8.0 9.6 9.3 10.7 11.8 .4 9.9 7.7 12.6 Structures.................... 2.5 2.1 4.3 -3.6 1.3 2.5 1.5 -11.0 -6.1 .8 .8 4.8 7.1 8.5 4.1 -15.4 21.5 -1.0 2.8 Previously published........ 2.2 2.1 3.1 -3.6 .5 2.2 1.1 -10.7 -6.8 1.0 1.0 4.8 5.0 7.1 -.1 -14.8 21.1 -1.1 2.3 Equipment and software........ 6.8 5.9 12.2 1.7 7.5 7.0 .4 -2.0 7.4 11.3 11.9 11.5 11.0 11.5 15.8 12.5 4.0 10.3 22.1 Previously published........ 6.3 5.3 12.1 .3 6.4 5.0 -1.5 -4.1 6.2 10.5 11.0 11.5 10.9 12.1 16.5 7.0 5.9 11.4 16.9 Residential..................... 2.2 1.7 5.3 .2 -.5 -4.1 -8.6 -12.8 16.3 7.3 9.7 -3.6 7.4 2.3 9.2 9.1 15.7 -3.0 -4.4 Previously published.......... 2.2 1.7 5.6 .2 -2.0 -3.7 -9.3 -12.3 16.6 7.6 10.1 -3.8 7.4 2.5 10.4 10.0 16.6 -3.1 -5.0 Change in private inventories..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports........................... 7.0 6.9 7.5 11.4 16.1 11.7 8.7 6.8 6.4 3.0 8.9 10.3 8.3 12.7 2.2 1.6 17.3 10.0 14.1 Previously published............ 6.9 6.8 7.5 11.0 15.9 11.7 8.5 6.3 6.6 2.9 8.2 11.3 8.5 12.8 1.5 -1.8 17.7 10.6 14.7 Goods........................... 7.0 6.8 8.2 11.1 18.8 12.6 8.2 7.1 6.8 3.0 9.7 11.9 8.7 14.5 2.1 -3.8 19.7 14.1 17.4 Previously published.......... 7.1 6.8 8.8 11.0 18.8 12.5 8.3 7.0 7.0 3.4 9.9 12.5 9.7 15.4 2.2 -3.5 19.8 14.4 18.1 Services........................ 7.3 7.6 5.8 12.2 9.5 9.4 10.0 6.1 5.5 3.1 7.2 6.6 7.1 8.5 2.5 15.4 12.0 .7 6.3 Previously published.......... 6.8 7.3 4.4 10.9 8.7 9.4 9.1 4.4 5.5 2.0 4.3 8.2 5.6 6.6 -.2 2.4 12.9 2.0 6.9 Imports........................... 6.5 5.7 10.5 6.1 3.8 3.9 3.8 -.5 6.6 9.1 12.0 8.2 8.6 13.7 11.6 7.9 18.9 12.0 10.0 Previously published............ 6.5 5.7 10.6 6.1 3.9 3.9 3.9 -.7 7.5 8.9 12.2 8.8 9.2 13.9 10.6 7.6 19.0 13.1 9.9 Goods........................... 7.1 6.4 11.3 4.6 4.1 4.2 3.0 -.1 9.3 10.1 13.3 9.0 9.4 14.2 11.7 8.1 22.7 14.7 12.4 Previously published.......... 7.2 6.4 11.6 4.6 4.0 4.2 3.0 .0 9.6 10.5 13.6 9.6 10.0 14.7 11.5 8.6 22.3 16.0 12.2 Services........................ 4.2 3.9 5.5 12.6 2.7 2.8 7.6 -2.3 -4.0 4.7 5.8 4.1 4.8 11.2 10.8 6.9 2.3 -.4 -1.4 Previously published.......... 4.2 3.9 5.5 12.9 3.6 2.6 7.6 -3.2 -1.0 1.9 5.3 4.9 5.4 9.9 5.8 2.7 4.1 -.4 -.9 Government consumption expenditures and gross investment............... 2.1 2.3 .8 3.0 1.2 2.7 3.3 1.2 .6 -.9 .1 .5 1.1 2.3 1.7 -3.9 .7 8.0 -3.6 Previously published.............. 1.9 2.2 .4 2.7 1.3 2.8 3.0 .6 .5 -.9 .0 .2 1.1 1.3 .9 -4.0 .4 8.2 -3.8 Federal........................... .9 1.4 -2.0 3.7 -1.8 1.3 2.0 -.3 -1.6 -3.9 -3.6 -2.7 -.9 -.1 -.9 -11.1 -4.1 13.9 -11.6 Previously published............ .6 1.2 -2.5 3.1 -1.8 1.3 2.0 -.5 -2.1 -4.2 -3.8 -3.3 -1.1 -1.6 -1.0 -10.7 -4.9 13.3 -11.3 National defense................ .2 .9 -3.3 4.7 -.8 -.8 .0 -1.1 -4.9 -5.4 -4.8 -3.7 -1.3 -2.5 -1.9 -16.9 1.3 15.0 -19.1 Previously published.......... -.1 .6 -3.7 4.0 -.9 -1.0 .0 -1.0 -5.5 -5.7 -4.9 -4.0 -1.3 -3.2 -2.7 -16.7 1.0 13.8 -18.6 Nondefense...................... 2.7 3.1 .6 .6 -5.2 8.3 8.3 2.0 7.2 -.4 -1.0 -.5 .0 4.6 1.0 3.0 -14.5 11.5 6.9 Previously published.......... 2.5 2.9 .0 .1 -4.9 9.2 8.0 1.1 7.2 -.7 -1.1 -1.8 -.5 1.7 2.4 3.9 -16.6 12.2 6.5 State and local................... 3.2 3.3 2.6 2.4 3.7 3.9 4.2 2.4 2.2 1.3 2.6 2.5 2.4 3.8 3.2 1.1 3.9 4.4 1.9 Previously published............ 3.1 3.2 2.3 2.4 3.9 4.0 3.8 1.4 2.4 1.5 2.6 2.4 2.4 3.1 2.0 .7 4.0 5.1 1.2 Addenda: Final sales of domestic product... 3.4 3.4 3.5 3.1 4.4 3.3 2.0 .0 3.1 2.3 3.4 3.2 3.7 4.0 4.3 2.0 3.6 3.9 3.9 Previously published............ 3.2 3.2 3.1 2.6 4.1 3.0 1.6 -.7 2.5 2.1 2.9 2.8 3.4 3.5 4.0 1.2 3.4 3.3 2.7 Gross domestic purchases.......... 3.4 3.3 4.0 3.2 3.3 2.8 1.3 -.9 3.4 3.0 4.4 2.6 3.8 4.7 5.4 4.3 6.0 2.6 4.8 Previously published............ 3.2 3.1 3.6 2.7 2.9 2.7 .8 -1.6 2.8 2.9 3.9 2.1 3.6 4.2 5.0 4.0 5.0 2.1 3.2 Final sales to domestic purchasers....................... 3.4 3.3 3.9 2.8 3.4 2.6 1.6 -.6 3.1 2.9 3.8 3.0 3.8 4.2 5.4 2.7 3.9 4.2 3.5 Previously published............ 3.2 3.1 3.5 2.4 3.2 2.3 1.2 -1.4 2.7 2.7 3.3 2.6 3.6 3.7 5.1 2.2 3.7 3.7 2.4 Gross national product (GNP)...... 3.4 3.4 3.5 3.4 4.3 3.5 1.9 -.3 3.3 2.4 3.9 2.8 3.6 4.3 4.1 4.0 5.5 2.2 5.1 Previously published............ 3.2 3.2 3.2 2.9 3.9 3.4 1.3 -1.0 2.6 2.4 3.3 2.4 3.4 3.7 3.7 3.2 4.3 1.6 3.4 Disposable personal income........ 3.5 3.6 2.8 2.3 4.4 2.5 2.2 .7 3.5 1.0 2.6 2.7 2.6 3.6 4.1 -3.1 6.8 3.1 5.5 Previously published............ 3.3 3.4 2.5 1.9 4.1 2.0 1.8 -.1 2.7 1.3 2.3 2.8 2.8 2.8 3.2 -4.3 6.8 2.9 4.8 Current-dollar measures: GDP............................. 7.6 7.9 5.6 6.5 7.7 7.5 5.7 3.2 5.6 5.1 6.2 4.9 5.6 6.2 5.5 5.5 7.6 4.7 7.0 Previously published.......... 7.5 7.9 5.3 6.1 7.6 7.7 5.6 3.0 5.5 5.0 5.9 4.6 5.4 5.9 4.9 5.5 7.1 4.4 6.4 Final sales of domestic product. 7.6 8.0 5.5 6.1 7.9 7.3 6.0 3.4 5.3 5.0 5.6 5.4 5.6 5.8 5.5 3.9 5.5 6.4 5.8 Previously published.......... 7.5 7.9 5.2 5.8 7.9 7.3 6.1 3.2 5.4 4.8 5.3 5.1 5.4 5.4 5.1 3.7 5.6 6.1 5.5 Gross domestic purchases........ 7.6 7.9 5.8 6.5 6.8 6.8 5.5 2.3 5.7 5.6 6.5 4.8 5.6 6.2 6.2 5.8 8.3 5.5 6.6 Previously published.......... 7.5 7.9 5.5 6.2 6.6 7.0 5.4 2.1 5.7 5.5 6.3 4.5 5.4 5.8 5.6 6.0 7.7 5.3 5.8 Final sales to domestic purchasers..................... 7.6 8.0 5.7 6.1 7.0 6.7 5.7 2.5 5.4 5.5 5.9 5.3 5.6 5.7 6.2 4.2 6.2 7.2 5.4 Previously published.......... 7.5 7.9 5.4 5.9 7.0 6.7 5.8 2.3 5.5 5.3 5.7 5.0 5.4 5.4 5.7 4.3 6.3 6.9 4.9 GNP............................. 7.6 7.9 5.5 6.4 7.8 7.5 5.9 3.1 5.5 5.1 6.1 4.9 5.5 6.0 5.4 6.0 7.4 4.6 7.0 Previously published.......... 7.5 7.9 5.2 6.0 7.7 7.7 5.7 2.9 5.4 5.1 5.8 4.8 5.3 5.6 4.8 5.7 6.6 4.2 6.1 Disposable personal income...... 7.7 8.2 4.8 6.0 8.5 7.0 6.9 4.2 6.3 3.8 4.7 5.0 4.7 5.4 5.1 -2.2 9.1 6.6 7.3 Previously published.......... 7.6 8.1 4.6 5.8 8.4 7.0 6.9 4.1 6.1 4.0 4.8 5.1 4.9 4.7 4.0 -2.7 9.5 6.7 7.6 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- See "Explanatory Note" at the end of the tables. Table 1A.--Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period--Continued [Percent; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------ I 95 II 95 III 95 IV 95 I 96 II 96 III 96 IV 96 I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Gross domestic product (GDP). 1.5 .8 3.2 3.3 2.9 6.9 2.2 4.9 4.9 5.1 4.0 3.1 6.7 2.1 3.8 5.9 3.7 1.9 Previously published....... 1.7 .4 3.3 2.8 3.3 6.1 2.1 4.2 4.2 4.0 4.2 3.0 5.5 1.8 3.7 6.0 4.3 1.6 Personal consumption expenditures... 1.5 4.0 3.2 2.7 3.3 4.5 2.2 3.2 4.9 1.8 6.6 3.4 5.6 6.1 3.9 4.6 6.5 5.1 Previously published.............. 1.9 3.4 2.6 2.3 3.7 4.7 1.8 2.9 4.3 1.6 6.2 2.8 6.1 6.1 4.1 5.0 6.7 4.8 Durable goods..................... -2.7 5.0 9.5 3.4 4.1 13.0 -1.5 5.0 10.9 -1.5 20.2 5.0 16.9 11.2 4.1 20.4 12.4 9.1 Previously published............ -1.0 5.9 8.3 4.8 5.8 12.7 -1.9 7.2 12.3 -1.5 16.8 3.1 15.8 11.2 2.4 24.5 12.9 9.7 Nondurable goods.................. 2.1 2.9 1.7 3.4 2.4 4.2 2.2 4.0 3.8 -.2 5.7 .3 5.8 6.7 2.4 5.0 8.9 3.3 Previously published............ 2.3 1.6 .7 2.0 2.2 4.8 1.2 2.9 3.6 -.2 5.1 -.4 7.4 5.3 2.1 4.2 9.5 2.8 Services.......................... 2.0 4.3 2.8 2.2 3.7 3.0 2.9 2.4 4.3 3.5 4.5 4.6 3.3 4.8 4.7 1.5 4.2 5.2 Previously published............ 2.3 3.8 2.4 1.9 4.0 3.0 3.0 2.0 3.1 3.2 4.7 4.3 3.5 5.4 5.4 1.7 4.1 4.7 Gross private domestic investment... 4.2 -11.1 -3.3 12.5 7.1 22.5 16.5 .7 14.0 22.0 1.0 8.0 33.4 -4.7 10.4 11.5 3.6 -2.1 Previously published.............. 4.3 -11.9 .6 9.3 9.8 18.0 18.0 -.7 15.3 20.3 1.5 8.9 28.3 -4.5 7.9 9.0 8.5 .3 Fixed investment.................. 9.2 -2.5 4.5 9.6 12.0 13.9 9.6 6.2 7.9 8.6 12.0 4.1 23.4 12.5 2.0 13.8 9.1 6.6 Previously published............ 8.2 .3 3.4 7.3 12.0 13.3 9.3 5.1 5.9 11.8 12.0 3.6 20.4 13.4 2.2 13.2 10.5 9.7 Nonresidential.................. 16.0 2.5 2.6 9.5 13.1 11.6 13.6 10.0 9.6 9.9 16.0 3.2 26.7 12.1 .0 15.3 7.8 7.0 Previously published.......... 16.0 6.9 .9 6.1 13.1 11.0 14.2 8.8 7.0 14.0 17.0 1.8 22.2 12.8 -.7 14.6 8.5 10.8 Structures.................... 8.8 5.8 -.3 -.8 10.8 10.5 7.5 23.0 8.0 -4.0 11.2 4.3 5.7 7.1 -6.6 5.8 -5.8 -5.3 Previously published........ 10.7 5.1 -.4 -3.8 6.4 7.4 8.9 24.5 3.9 -6.2 12.4 .9 -4.9 -2.3 .2 6.0 5.7 -1.0 Equipment and software........ 18.4 1.5 3.6 13.1 14.0 12.0 15.7 5.9 10.1 15.2 17.7 2.8 34.7 13.8 2.4 18.6 12.5 11.2 Previously published........ 18.1 7.6 1.4 10.1 15.7 12.3 16.2 3.2 8.3 22.8 18.8 2.2 34.3 18.8 -1.0 17.8 9.5 15.3 Residential..................... -7.7 -15.6 10.1 9.7 8.8 20.6 -1.0 -4.1 3.0 4.7 .6 6.6 14.0 13.6 8.0 9.8 12.9 5.5 Previously published.......... -8.8 -15.0 10.1 10.6 9.3 19.5 -1.7 -3.9 3.1 6.1 -.4 8.2 15.6 15.0 9.9 10.0 15.4 7.1 Change in private inventories..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports........................... 7.2 4.4 17.9 9.9 2.3 6.9 3.5 29.0 8.8 16.2 11.5 1.8 -1.5 -4.0 -1.7 16.1 -5.5 4.0 Previously published............ 9.2 5.4 17.8 10.2 3.7 5.8 2.1 32.0 8.3 15.5 10.6 4.4 -2.8 -7.7 -2.8 19.7 -5.1 4.9 Goods........................... 9.1 4.9 15.4 11.0 4.9 4.3 7.9 24.3 14.4 18.3 13.0 3.5 -2.8 -8.8 1.6 19.4 -9.3 4.3 Previously published.......... 9.2 6.4 16.1 11.8 6.9 4.0 7.6 28.9 15.2 17.1 12.5 7.9 -3.4 -11.3 .6 24.6 -8.7 5.3 Services........................ 2.7 3.1 24.3 7.2 -4.0 13.5 -6.7 41.0 -3.5 11.1 7.6 -2.5 1.7 8.8 -8.8 8.6 4.1 3.2 Previously published.......... 9.1 2.9 21.7 6.4 -4.0 10.3 -9.9 39.8 -6.7 11.8 5.9 -4.0 -1.2 1.7 -10.4 8.3 4.3 4.0 Imports........................... 8.8 6.2 1.2 3.9 10.8 13.3 14.4 6.3 15.5 19.1 17.6 5.2 14.4 13.0 5.2 10.8 12.5 14.4 Previously published............ 9.8 7.2 2.0 3.5 13.1 13.5 13.6 7.0 18.6 17.9 13.5 6.3 15.7 9.3 2.3 12.0 13.5 15.1 Goods........................... 7.0 8.4 1.0 3.5 11.9 15.2 14.9 7.5 14.6 21.2 17.0 5.2 14.0 13.6 4.9 12.8 12.6 15.5 Previously published.......... 7.9 9.3 1.8 3.1 13.8 15.4 14.3 8.7 18.8 19.4 13.1 6.4 17.0 11.4 2.9 14.1 13.8 16.6 Services........................ 18.9 -4.5 2.6 6.4 5.6 4.1 11.8 .0 20.6 8.6 20.7 5.3 16.7 9.7 6.4 1.6 11.9 8.9 Previously published.......... 20.5 -3.3 3.1 5.5 9.2 4.3 9.9 -1.1 17.8 10.6 15.8 5.8 9.3 -.6 -.6 2.0 11.8 7.2 Government consumption expenditures and gross investment............... .8 1.9 -.9 -4.8 3.3 7.5 -2.3 2.5 1.7 5.7 1.7 -.1 -1.0 6.0 1.3 2.9 5.1 1.3 Previously published.............. .1 1.2 -.8 -4.1 3.2 7.1 -1.6 .0 2.1 2.1 1.4 .1 -1.9 3.7 1.5 3.3 4.2 -1.9 Federal........................... -1.4 .2 -2.8 -16.1 9.6 8.7 -7.7 -1.3 -2.8 9.9 -1.3 -4.2 -9.8 11.9 -2.3 3.9 -.5 2.1 Previously published............ -2.6 -2.0 -2.6 -14.7 8.0 8.1 -4.7 -6.3 -2.7 3.6 -1.2 -2.1 -8.8 7.3 -1.4 7.3 -1.9 -3.6 National defense................ -1.0 .1 -3.9 -13.5 7.0 7.7 -8.1 -2.4 -11.3 9.6 -.2 -2.4 -17.0 11.1 7.0 -2.9 -4.0 -2.6 Previously published.......... -1.6 .1 -5.4 -12.5 7.2 8.1 -6.3 -8.3 -9.9 9.1 -1.8 -2.0 -18.5 9.9 4.3 1.3 -6.6 -3.5 Nondefense...................... -2.4 .2 -.5 -21.2 14.9 10.8 -6.8 .8 16.0 10.3 -3.6 -7.7 5.4 13.2 -17.4 17.8 6.1 10.9 Previously published.......... -4.6 -6.2 3.3 -19.2 9.9 8.1 -1.3 -2.0 13.3 -6.4 -.1 -2.3 13.1 2.6 -11.5 19.8 7.4 -3.8 State and local................... 2.3 3.0 .3 2.8 -.3 6.9 1.1 4.9 4.4 3.4 3.5 2.4 4.1 3.0 3.3 2.3 8.2 .9 Previously published............ 1.8 3.2 .4 2.8 .5 6.5 .3 3.8 4.9 1.3 2.9 1.3 2.1 1.8 3.1 1.3 7.7 -1.1 Addenda: Final sales of domestic product... 2.2 2.3 4.4 2.9 3.6 5.7 1.2 5.8 4.0 3.1 5.8 2.4 5.1 5.1 2.4 6.2 4.6 3.4 Previously published............ 2.2 2.3 3.7 2.5 3.6 5.4 .9 5.1 2.9 2.7 5.8 2.1 4.3 4.6 2.8 6.6 4.6 3.1 Gross domestic purchases.......... 1.8 1.1 1.5 2.7 3.9 7.7 3.5 2.7 5.7 5.6 4.8 3.5 8.6 4.1 4.6 5.5 5.8 3.2 Previously published............ 1.9 .7 1.7 2.0 4.5 7.0 3.4 1.8 5.5 4.4 4.6 3.2 7.8 3.9 4.2 5.4 6.6 2.9 Final sales to domestic purchasers....................... 2.5 2.6 2.7 2.3 4.6 6.4 2.5 3.5 4.8 3.5 6.5 2.9 7.0 7.1 3.2 5.8 6.7 4.7 Previously published............ 2.4 2.6 2.1 1.8 4.7 6.3 2.2 2.7 4.1 3.1 6.2 2.4 6.6 6.7 3.3 6.0 6.8 4.4 Gross national product (GNP)...... 1.9 1.0 2.4 4.0 3.1 6.4 1.9 5.1 4.3 5.4 3.6 3.0 6.8 2.0 2.6 6.3 3.8 1.9 Previously published............ 2.7 .6 2.6 3.5 3.3 5.7 1.6 4.5 3.6 4.1 3.8 2.4 5.8 1.7 3.3 6.3 4.4 1.6 Disposable personal income........ 1.6 -.4 2.8 2.9 2.7 2.1 4.6 1.7 4.4 4.2 3.6 4.3 4.0 3.8 4.5 4.8 4.1 3.2 Previously published............ 2.6 -.6 2.7 3.9 2.9 2.1 4.4 1.3 3.3 2.9 2.4 2.9 4.0 2.6 3.2 4.3 3.5 2.6 Current-dollar measures: GDP............................. 4.5 2.5 5.0 5.3 5.4 8.3 4.0 6.4 7.4 6.7 5.2 4.3 7.7 3.4 5.4 7.0 5.7 3.3 Previously published.......... 4.3 2.3 5.3 4.9 5.7 7.3 3.9 6.1 7.2 5.6 5.4 4.2 6.4 2.7 4.7 6.9 6.0 3.0 Final sales of domestic product. 5.2 4.0 6.3 4.9 6.2 7.0 2.9 7.3 6.4 4.7 7.0 3.7 6.3 6.3 3.8 7.2 6.7 4.8 Previously published.......... 4.8 4.2 5.8 4.6 6.0 6.7 2.8 7.0 5.8 4.4 7.0 3.3 5.3 5.5 3.8 7.5 6.3 4.5 Gross domestic purchases........ 4.5 3.3 3.0 4.4 6.3 9.0 5.0 4.7 7.8 6.1 5.8 4.6 8.6 5.1 5.8 6.6 7.5 5.2 Previously published.......... 4.2 3.0 3.3 3.9 6.6 8.3 5.1 4.1 7.8 5.2 5.8 4.3 7.6 4.4 4.9 6.3 7.8 4.9 Final sales to domestic purchasers..................... 5.2 4.8 4.3 4.1 7.1 7.7 4.0 5.6 6.8 4.2 7.6 4.0 7.2 8.0 4.3 6.8 8.5 6.7 Previously published.......... 4.6 4.9 3.8 3.7 7.0 7.6 3.9 5.0 6.5 4.0 7.3 3.5 6.5 7.2 4.1 6.9 8.2 6.4 GNP............................. 4.9 2.7 4.2 6.0 5.6 7.7 3.6 6.6 6.8 7.0 4.8 4.2 7.8 3.3 4.1 7.4 5.8 3.3 Previously published.......... 5.3 2.5 4.5 5.5 5.6 7.0 3.5 6.4 6.5 5.6 5.0 3.6 6.7 2.5 4.3 7.2 6.1 3.0 Disposable personal income...... 4.2 1.9 4.7 4.5 5.1 4.6 6.0 4.3 6.6 5.1 4.7 5.6 4.5 4.9 5.7 6.0 5.6 5.5 Previously published.......... 4.3 1.7 4.7 5.6 5.2 4.6 6.0 3.8 5.9 4.0 3.8 4.0 4.0 3.5 4.3 5.4 4.8 4.8 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ See "Explanatory Note" at the end of the tables. Table 1B.-Revisions to Current-Dollar Gross Domestic Product, Disposition of Personal Income, and National Income -------------------------------------------------------------------------------------------------------------------------------------------------------------- Billions of dollars Percent of previously published ------------------------------------------------------------------------------------------- -------------------------- 1959 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1959 1987 1992 1998 -------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP)....... .2 50.2 58.7 50.4 59.4 69.5 74.5 84.2 107.3 130.9 151.6 189.9 248.9 .0 1.1 1.2 2.9 Personal consumption expenditures...... .0 10.8 6.9 1.9 -7.8 -3.9 -10.1 -4.5 -.6 15.1 21.8 30.7 40.7 .0 .3 -.2 .7 Durable goods........................ .0 3.0 -.8 -5.0 -8.9 -12.2 -17.7 -16.8 -18.7 -21.3 -26.8 -30.1 -26.5 .0 .7 -3.6 -3.7 Nondurable goods..................... .0 1.3 1.8 1.6 .8 1.2 1.1 4.5 9.6 23.7 34.9 41.1 46.5 .0 .1 .1 2.8 Services............................. .0 6.5 5.9 5.4 .3 7.1 6.5 7.7 8.5 12.8 13.8 19.7 20.7 .0 .4 .3 .6 Gross private domestic investment...... -.3 34.3 47.2 43.7 62.0 64.0 76.2 78.9 89.2 100.6 110.8 127.7 164.1 -.4 4.6 9.6 12.0 Fixed investment..................... .0 31.4 39.6 47.7 55.6 61.9 68.2 78.3 88.0 98.2 112.9 126.8 152.2 .0 4.3 8.7 11.6 Nonresidential..................... .0 31.3 37.8 47.2 54.4 61.6 68.2 78.1 88.0 97.4 111.5 125.4 153.1 .0 6.3 12.2 16.3 Structures....................... .0 .0 .3 1.1 1.7 1.7 3.0 3.0 3.0 3.3 8.1 13.9 25.9 .0 .0 1.8 10.5 Equipment and software........... .1 31.4 37.5 46.1 52.7 59.8 65.2 75.1 85.0 94.1 103.4 111.6 127.2 .4 9.7 16.8 18.4 Residential........................ .0 .0 1.7 .5 1.1 .3 -.1 .2 .0 .8 1.5 1.3 -.9 .0 .0 .0 -.2 Change in private inventories........ -.3 2.9 7.6 -4.0 6.5 2.1 8.0 .6 1.4 2.3 -2.1 .9 11.9 ..... ..... ..... ..... Net exports of goods and services...... .0 -.2 -.2 -.3 -.1 -.2 1.6 .2 3.8 -.4 2.2 5.1 1.6 ..... ..... ..... ..... Exports.............................. .0 -.1 -.3 -.3 -.1 -.2 -2.6 -.6 3.9 -.8 .4 2.6 7.3 .0 .0 -.4 .8 Goods.............................. .0 .0 .0 .0 .0 .0 .0 .0 .0 .0 .1 .7 .5 .0 .0 .0 .1 Services........................... .0 -.1 -.3 -.3 -.2 -.2 -2.6 -.6 3.9 -.9 .3 1.9 6.9 .0 -.1 -1.4 2.5 Imports.............................. .0 .0 .0 .0 .0 .0 -4.4 -.8 .0 -.5 -1.9 -2.5 5.7 .0 .0 -.7 .5 Goods.............................. .0 .0 .0 .0 .0 .0 .0 .0 -.1 .0 -.7 -3.2 -2.0 .0 .0 .0 -.2 Services........................... .0 .0 .0 -.1 .0 .0 -4.3 -.8 .1 -.5 -1.2 .8 7.7 .0 .0 -3.5 4.3 Government consumption expenditures and gross investment.................. .5 5.1 4.9 5.1 5.3 9.6 6.7 9.6 14.9 15.6 16.7 26.4 42.6 .4 .5 .5 2.9 Federal.............................. .2 4.7 5.3 5.4 4.8 4.8 6.5 9.0 10.9 12.4 13.2 17.6 18.1 .3 1.0 1.2 3.5 National defense................... .3 .8 1.9 2.6 1.8 1.0 2.7 4.2 5.9 6.2 6.0 6.5 8.2 .5 .2 .7 2.4 Nondefense......................... -.1 4.0 3.5 2.6 3.2 3.8 3.8 4.7 4.9 6.2 7.2 11.0 9.9 -.9 3.8 2.5 5.5 State and local...................... .3 .3 -.4 -.2 .4 4.7 .2 .7 4.0 3.2 3.6 8.8 24.5 .7 .1 .0 2.5 Addendum: Revised GDP less definitional and classificational changes............ .3 6.0 9.5 -3.4 1.4 .7 -3.8 -6.4 8.1 21.1 27.9 49.0 80.0 ..... ..... ..... ..... Disposition of personal income Personal income........................ -.4 84.7 93.2 103.4 107.0 119.8 134.7 129.0 130.1 128.8 122.2 167.1 232.8 -.1 2.2 2.6 3.3 Wage and salary disbursements........ .0 -2.5 -.9 -1.3 -2.9 -3.4 -3.8 -4.4 -4.0 -3.8 -4.6 -.9 36.1 .0 -.1 -.1 .9 Other labor income................... 2.8 83.7 84.8 87.4 89.4 92.9 98.2 97.7 102.5 95.4 103.0 108.0 108.8 26.4 35.6 28.0 26.7 Proprietors' income with inventory valuation and capital consumption adjustments............. -.1 -1.2 3.5 4.4 7.0 7.7 10.5 11.0 5.0 9.6 17.0 27.4 28.9 -.2 -.4 2.5 5.0 Farm............................... .0 -2.5 -1.5 -4.1 -4.3 -2.9 -4.4 -2.3 -5.0 -.2 -4.6 -6.0 -3.6 .0 -7.9 -11.9 -12.5 Nonfarm............................ .0 1.2 4.9 8.5 11.3 10.6 15.0 13.3 9.9 9.9 21.7 33.3 32.5 .0 .4 3.9 5.9 Rental income of persons with capital consumption adjustment...... -2.5 -9.0 -11.0 -11.2 -11.9 -11.5 -16.1 -14.8 -14.1 -15.8 -20.5 -28.0 -25.2 -14.1 -20.1 -20.3 -15.5 Personal dividend income............. -.1 21.9 25.2 28.5 30.5 40.6 47.4 55.9 63.7 61.2 49.2 73.1 85.2 -.8 24.3 34.4 32.4 Personal interest income............. .3 49.7 55.0 62.0 68.0 72.6 82.9 74.5 74.3 87.6 91.2 107.6 133.0 1.3 8.9 12.4 17.4 Transfer payments to persons......... -2.8 -74.7 -80.7 -85.6 -93.4 -100.0 -106.5 -113.4 -120.8 -130.0 -139.2 -148.0 -165.4 -10.4 -13.7 -12.4 -14.4 Less: Personal contributions for social insurance.................... -1.9 -16.9 -17.4 -19.2 -20.2 -20.7 -21.8 -22.5 -23.4 -24.8 -25.9 -28.1 -31.5 -24.1 -9.7 -8.8 -9.1 Less: Personal tax and nontax payments.............................. -1.7 -11.2 -12.3 -11.4 -15.2 -14.3 -14.7 -15.4 -16.5 -16.7 -20.8 -20.7 -25.7 -3.8 -2.2 -2.3 -2.3 Equals: Disposable personal income..... 1.3 95.9 105.5 114.7 122.2 133.9 149.5 144.2 146.5 145.6 143.0 187.7 258.3 .4 2.9 3.2 4.3 Less: Personal outlays................. .0 12.0 8.4 7.7 1.2 5.8 -.1 3.8 7.8 23.0 29.4 37.6 56.4 .0 .4 .0 .9 Equals: Personal saving................ 1.3 83.9 97.1 107.0 121.0 128.2 149.6 140.5 138.7 122.6 113.6 150.1 202.0 5.2 49.7 56.6 729.2 Personal saving as a percentage of disposable personal income....... .4 2.3 2.4 2.5 2.7 2.7 3.0 2.7 2.6 2.2 1.9 2.4 3.2 ..... ..... ..... ..... National income.................... -2.4 -11.0 4.3 -6.7 -11.2 -6.1 3.3 -15.7 -34.6 -47.5 -45.8 -11.6 41.7 -.6 -.3 .1 .6 Compensation of employees.............. -.2 -2.1 -.1 -.6 -1.8 -3.0 -.1 -.5 4.2 -6.4 -13.4 -11.5 30.2 -.1 -.1 .0 .6 Wage and salary accruals............. .0 -2.5 -.9 -1.3 -2.9 -3.4 -3.8 -2.4 .3 -.8 -10.3 -8.9 35.6 .0 -.1 -.1 .9 Supplements to wages and salaries.... -.2 .4 .8 .7 1.2 .3 3.6 2.0 3.9 -5.6 -3.2 -2.7 -5.4 -.9 .1 .5 -.7 Proprietors' income with inventory valuation and capital consumption adjustments........................... -.1 -1.2 3.5 4.4 7.0 7.7 10.5 11.0 5.0 9.6 17.0 27.4 28.9 -.2 -.4 2.5 5.0 Rental income of persons with capital consumption adjustment........ -2.5 -9.0 -11.0 -11.2 -11.9 -11.5 -16.1 -14.8 -14.1 -15.8 -20.5 -28.0 -25.2 -14.1 -20.1 -20.3 -15.5 Corporate profits with inventory valuation and capital consumption adjustments........................... .8 12.1 21.4 14.2 10.3 18.9 23.9 16.9 2.0 -4.1 3.5 20.0 21.5 1.5 3.6 5.6 2.6 Net interest........................... -.5 -10.7 -9.5 -13.5 -14.9 -18.2 -14.8 -28.2 -31.8 -30.8 -32.3 -19.5 -13.6 -4.9 -2.9 -3.6 -3.0 -------------------------------------------------------------------------------------------------------------------------------------------------------------- Table 1C.--Revisions to Corporate Profits by Industry -------------------------------------------------------------------------------------------------------------------------------------------------------------- Billions of dollars Percent of previously published ------------------------------------------------------------------------------------------- -------------------------- 1959 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1959 1987 1992 1998 -------------------------------------------------------------------------------------------------------------------------------------------------------------- Corporate profits with inventory valuation and capital consumption adjustments....................... .8 12.1 21.4 14.2 10.3 18.9 23.9 16.9 2.0 -4.1 3.5 20.0 21.5 1.5 3.6 5.6 2.6 Domestic industries.................... .8 5.7 15.5 8.0 3.4 13.3 20.1 14.0 -1.9 -6.5 -1.0 10.9 17.0 1.6 2.0 5.5 2.3 Financial............................ .4 17.0 22.3 21.6 21.0 30.8 37.7 35.7 33.2 38.5 38.4 42.3 40.7 5.8 51.5 55.9 31.2 Nonfinancial......................... .5 -11.4 -6.8 -13.5 -17.6 -17.7 -17.6 -21.7 -35.1 -45.1 -39.4 -31.4 -23.7 1.2 -4.4 -6.0 -4.0 Rest of the world...................... .0 6.4 6.0 6.2 7.0 5.6 3.8 2.8 3.8 2.5 4.5 9.1 4.3 .0 15.4 5.9 4.5 Receipts from the rest of the world............................... .0 7.0 6.8 7.1 8.0 7.4 6.9 6.4 7.7 4.5 6.1 10.2 2.6 .0 13.4 10.1 1.8 Less: Payments to the rest of the world............................... .0 .6 .9 .9 1.0 1.7 3.1 3.6 3.7 1.9 1.7 1.2 -1.7 .0 5.6 100.0 -3.4 Corporate profits with inventory valuation adjustment.... .3 25.5 34.8 29.8 30.4 42.9 49.9 49.5 41.9 37.2 50.4 62.0 70.5 .6 9.3 12.5 9.6 Domestic industries.................... .3 19.1 28.8 23.5 23.4 37.2 46.1 46.6 38.0 34.8 46.0 52.9 66.2 .6 8.3 13.8 10.4 Financial............................ .4 20.0 24.9 23.7 23.0 32.8 41.1 45.0 45.3 49.7 54.6 54.2 57.1 5.7 53.9 49.1 42.5 Federal Reserve banks.............. .0 .0 .0 .0 .0 .0 .0 .0 .0 .0 .0 .0 .0 .0 .0 .0 .0 Other.............................. .3 20.0 24.9 23.8 23.0 32.8 41.1 44.9 45.3 49.7 54.6 54.3 57.0 4.8 93.5 62.4 52.0 Nonfinancial......................... -.1 -.9 4.0 -.3 .5 4.4 4.9 1.6 -7.3 -15.0 -8.5 -1.4 9.1 -.2 -.5 2.0 1.8 Manufacturing...................... .0 -1.9 1.0 -3.6 -3.1 .8 -2.4 -8.3 -12.0 -17.8 -14.4 -28.8 -24.4 .0 -2.2 -2.5 -12.7 Durable goods.................... .0 -.8 1.8 -1.0 .7 1.6 .5 -2.7 -6.1 -9.5 -10.2 -14.0 -13.2 .0 -2.0 1.3 -12.2 Nondurable goods................. .0 -1.2 -.8 -2.6 -3.8 -.6 -2.8 -5.6 -5.8 -8.3 -4.3 -14.8 -11.2 .0 -2.7 -4.7 -13.3 Transportation and public utilities......................... .0 .3 -.3 .9 1.2 -.7 .7 .2 -.2 -.2 -1.3 16.3 18.6 .0 .7 1.2 20.6 Wholesale trade.................... .0 1.0 .3 1.1 1.9 1.4 2.9 3.9 3.7 3.2 4.7 -3.0 -4.1 .0 6.0 12.6 -8.0 Retail trade....................... .0 -.5 1.0 .5 .4 1.6 1.5 .8 .6 .8 1.1 2.5 2.6 .0 -2.1 4.7 3.9 Other.............................. .0 .2 1.9 .8 .0 1.1 2.2 5.0 .6 -1.0 1.4 11.6 16.4 .0 .7 5.4 16.3 Rest of the world...................... .0 6.4 6.0 6.2 7.0 5.6 3.8 2.8 3.8 2.5 4.5 9.1 4.3 .0 15.4 5.9 4.5 Corporate profits before tax....... .3 21.0 27.6 28.6 29.8 41.9 45.2 45.0 38.3 32.9 46.1 61.5 64.1 .6 7.2 11.1 8.9 Addenda: Corporate profits after tax with inventory valuation and capital consumption adjustments............. .8 12.1 21.3 14.1 10.2 18.7 23.7 16.7 2.0 -4.1 5.9 27.8 21.3 2.7 5.9 8.3 3.6 Net cash flow with inventory valuation and capital consumption adjustments............. .4 25.2 35.0 29.7 30.5 35.3 38.9 32.0 20.5 28.5 61.7 71.2 70.5 1.0 6.3 7.6 8.7 Undistributed profits with inventory valuation and capital consumption adjustments....................... 1.0 -4.0 2.8 -6.5 -11.5 -12.6 -13.9 -28.9 -50.6 -53.0 -29.9 -30.8 -48.2 6.1 -3.6 -10.1 -15.8 Consumption of fixed capital....... -.5 29.3 32.2 36.3 42.0 47.8 52.7 60.9 71.1 81.5 91.6 102.1 118.6 -2.1 10.0 14.0 23.7 Less: Inventory valuation adjustment.......................... .0 4.5 7.1 1.2 .6 .9 4.7 4.5 3.7 4.3 4.3 .5 6.4 .0 -21.7 -62.7 44.1 Equals: Net cash flow................ .5 20.8 27.8 28.7 29.9 34.2 34.2 27.5 16.9 24.2 57.4 70.8 64.1 1.2 4.9 6.6 8.1 -------------------------------------------------------------------------------------------------------------------------------------------------------------- Table 2.--Contributions to Percent Change in Real Gross Domestic Product ------------------------------------------------------------------------------------------------------------------------------------------------------------------ 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 I 94 II 94 III 94 IV 94 I 95 II 95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Percent change at annual rate: Gross domestic product.......... 3.5 4.2 3.5 1.7 -.2 3.3 2.4 4.0 2.7 3.7 4.5 4.3 3.6 5.7 2.2 5.1 1.5 .8 Percentage points at annual rates: Personal consumption expenditures. 2.27 2.68 1.72 1.20 .10 2.13 2.00 2.52 2.04 2.22 2.51 3.24 2.56 2.36 2.05 2.79 1.09 2.64 Durable goods................... .16 .51 .18 -.08 -.53 .39 .61 .59 .37 .44 .51 .86 .41 .28 .35 .95 -.20 .39 Nondurable goods................ .52 .68 .58 .30 -.09 .40 .61 .79 .60 .60 .59 .79 .99 .70 .73 .88 .46 .60 Services........................ 1.59 1.49 .95 .98 .71 1.34 .79 1.15 1.08 1.18 1.41 1.59 1.16 1.37 .97 .95 .84 1.65 Gross private domestic investment. .42 .44 .60 -.49 -1.26 1.12 1.18 1.89 .47 1.37 1.82 1.93 2.54 3.57 -.93 2.72 .51 -1.90 Fixed investment................ .00 .58 .42 -.28 -1.00 .86 1.09 1.28 .88 1.39 1.31 1.86 .79 1.41 .60 1.51 1.31 -.38 Nonresidential................ -.01 .60 .61 .08 -.53 .34 .82 .91 1.03 1.10 1.22 1.49 .44 .81 .73 1.69 1.63 .27 Structures.................. -.14 .05 .09 .05 -.38 -.18 .02 .02 .13 .20 .25 .13 -.45 .52 -.03 .08 .23 .16 Equipment and software...... .13 .56 .52 .03 -.15 .52 .80 .89 .90 .91 .97 1.37 .89 .30 .75 1.61 1.39 .11 Residential................... .01 -.02 -.19 -.36 -.47 .52 .26 .37 -.15 .29 .09 .37 .34 .60 -.13 -.18 -.31 -.65 Change in private inventories... .42 -.14 .17 -.21 -.26 .26 .10 .61 -.41 -.02 .50 .07 1.75 2.16 -1.53 1.21 -.80 -1.51 Net exports of goods and services. .20 .84 .59 .39 .70 -.04 -.64 -.41 .12 -.14 -.25 -1.18 -.71 -.33 -.35 .26 -.25 -.27 Exports......................... .82 1.25 1.02 .80 .65 .64 .30 .88 1.07 .90 1.40 .25 .15 1.62 .97 1.39 .75 .46 Goods......................... .56 1.04 .79 .55 .48 .48 .21 .67 .86 .68 1.12 .17 -.28 1.27 .95 1.20 .66 .37 Services...................... .26 .22 .22 .25 .17 .16 .09 .21 .20 .23 .28 .08 .43 .35 .02 .19 .09 .10 Imports......................... -.62 -.41 -.43 -.41 .05 -.68 -.94 -1.29 -.95 -1.04 -1.65 -1.43 -.85 -1.95 -1.32 -1.13 -.99 -.74 Goods......................... -.39 -.36 -.37 -.26 .00 -.77 -.85 -1.18 -.87 -.94 -1.43 -1.21 -.72 -1.91 -1.33 -1.16 -.66 -.83 Services...................... -.23 -.05 -.05 -.15 .05 .08 -.09 -.11 -.08 -.09 -.22 -.22 -.13 -.04 .01 .03 -.33 .09 Government consumption expenditures and gross investment .64 .25 .55 .65 .25 .12 -.18 .02 .09 .21 .42 .31 -.79 .15 1.46 -.67 .18 .37 Federal......................... .36 -.18 .12 .18 -.02 -.14 -.33 -.29 -.20 -.06 -.01 -.06 -.91 -.31 .97 -.90 -.09 .01 National defense.............. .35 -.06 -.05 .00 -.07 -.31 -.32 -.26 -.19 -.06 -.11 -.08 -.98 .07 .71 -1.06 -.04 .01 Nondefense.................... .01 -.12 .17 .18 .05 .17 -.01 -.02 -.01 .00 .10 .02 .06 -.37 .25 .16 -.05 .01 State and local................. .28 .42 .43 .48 .28 .26 .15 .31 .29 .28 .43 .37 .12 .45 .49 .24 .27 .35 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ See "Explanatory Note" at the end of the tables. Table 2.--Contributions to Percent Change in Real Gross Domestic Product--Continued ----------------------------------------------------------------------------------------------------------------------------------------------------------- III 95 IV 95 I 96 II 96 III 96 IV 96 I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 III 99 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Percent change at annual rate: Gross domestic product.......... 3.2 3.3 2.9 6.9 2.2 4.9 4.9 5.1 4.0 3.1 6.7 2.1 3.8 5.9 3.7 1.9 4.8 Percentage points at annual rates: Personal consumption expenditures. 2.20 1.81 2.17 3.06 1.41 2.14 3.28 1.24 4.29 2.22 3.75 3.96 2.64 3.13 4.27 3.36 2.94 Durable goods................... .74 .27 .32 .99 -.12 .39 .81 -.11 1.42 .38 1.24 .84 .33 1.51 .96 .71 .57 Nondurable goods................ .35 .69 .47 .86 .44 .79 .78 -.02 1.11 .06 1.15 1.28 .49 .98 1.68 .64 .73 Services........................ 1.11 .85 1.39 1.22 1.09 .96 1.69 1.38 1.76 1.78 1.37 1.85 1.83 .64 1.63 2.01 1.64 Gross private domestic investment. -.53 1.81 1.16 3.26 2.50 .15 2.13 3.33 .17 1.30 5.04 -.85 1.74 1.94 .67 -.36 2.20 Fixed investment................ .66 1.38 1.74 2.04 1.43 .95 1.19 1.30 1.80 .63 3.45 1.95 .34 2.20 1.48 1.10 1.51 Nonresidential................ .29 1.02 1.41 1.28 1.47 1.12 1.07 1.12 1.78 .38 2.91 1.42 .01 1.79 .94 .86 1.79 Structures.................. -.01 -.02 .28 .29 .21 .61 .24 -.12 .32 .13 .18 .22 -.21 .18 -.18 -.16 -.15 Equipment and software...... .30 1.04 1.13 .99 1.27 .51 .83 1.24 1.45 .24 2.73 1.21 .22 1.61 1.12 1.02 1.94 Residential................... .37 .36 .33 .76 -.04 -.17 .12 .19 .03 .26 .54 .53 .33 .41 .53 .24 -.29 Change in private inventories... -1.19 .42 -.58 1.22 1.07 -.80 .94 2.02 -1.63 .66 1.59 -2.80 1.40 -.26 -.80 -1.46 .70 Net exports of goods and services. 1.68 .59 -1.03 -.79 -1.29 2.13 -.79 -.44 -.77 -.44 -1.90 -2.01 -.82 .33 -2.13 -1.35 -.90 Exports......................... 1.83 1.07 .26 .77 .38 2.89 .98 1.75 1.29 .21 -.16 -.45 -.18 1.65 -.61 .42 1.28 Goods......................... 1.13 .84 .40 .35 .61 1.75 1.09 1.39 1.04 .29 -.22 -.73 .12 1.38 -.74 .32 1.20 Services...................... .69 .23 -.14 .42 -.23 1.14 -.12 .36 .25 -.08 .06 .28 -.30 .27 .13 .10 .08 Imports......................... -.15 -.48 -1.29 -1.55 -1.67 -.76 -1.77 -2.19 -2.06 -.64 -1.74 -1.56 -.65 -1.32 -1.52 -1.77 -2.18 Goods......................... -.10 -.36 -1.18 -1.47 -1.45 -.76 -1.39 -2.02 -1.67 -.54 -1.42 -1.36 -.51 -1.29 -1.28 -1.59 -2.15 Services...................... -.05 -.12 -.11 -.08 -.22 .00 -.38 -.17 -.39 -.11 -.32 -.20 -.13 -.03 -.24 -.19 -.03 Government consumption expenditures and gross investment -.15 -.90 .59 1.37 -.41 .47 .32 1.02 .31 -.01 -.16 1.03 .23 .51 .87 .23 .59 Federal......................... -.20 -1.22 .63 .60 -.54 -.08 -.18 .63 -.08 -.28 -.64 .69 -.14 .24 -.03 .13 .19 National defense.............. -.19 -.67 .32 .36 -.38 -.10 -.52 .40 -.01 -.10 -.76 .42 .27 -.12 -.16 -.10 .38 Nondefense.................... -.01 -.55 .31 .24 -.16 .02 .34 .23 -.08 -.17 .12 .27 -.42 .36 .13 .23 -.18 State and local................. .05 .32 -.04 .78 .13 .55 .50 .39 .40 .27 .48 .33 .37 .28 .90 .10 .40 ----------------------------------------------------------------------------------------------------------------------------------------------------------- See "Explanatory Note" at the end of the tables. Table 3A.--Gross Domestic Product and Related Measures [Billions of dollars; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 I 94 II 94 III 94 IV 94 I 95 II 95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP).... 4,742.5 5,108.3 5,489.1 5,803.2 5,986.2 6,318.9 6,642.3 7,054.3 7,400.5 7,813.2 8,300.8 8,759.9 6,887.8 7,015.7 7,096.0 7,217.7 7,297.5 7,342.6 Personal consumption expenditures.... 3,105.3 3,356.6 3,596.7 3,831.5 3,971.2 4,209.7 4,454.7 4,716.4 4,969.0 5,237.5 5,524.4 5,848.6 4,613.8 4,677.5 4,753.0 4,821.3 4,868.6 4,943.7 Durable goods...................... 419.7 450.2 467.8 467.6 443.0 470.8 513.4 560.8 589.7 616.5 642.9 698.2 546.2 553.6 563.2 580.0 578.2 584.4 Motor vehicles and parts......... 193.1 206.1 211.4 206.4 182.8 200.2 222.1 242.3 249.3 256.3 263.1 289.2 241.4 239.0 240.2 248.8 245.0 248.2 Furniture and household equipment....................... 153.4 163.6 171.4 171.4 171.5 178.7 192.4 211.2 225.0 236.9 249.5 268.7 202.1 208.6 214.3 219.9 220.4 221.9 Other............................ 73.2 80.5 84.9 89.8 88.7 91.9 98.9 107.2 115.4 123.3 130.3 140.3 102.7 106.0 108.8 111.3 112.9 114.3 Nondurable goods................... 1,015.3 1,082.9 1,165.4 1,246.1 1,278.8 1,322.9 1,375.2 1,438.0 1,497.3 1,574.1 1,641.7 1,708.9 1,409.7 1,425.1 1,449.9 1,467.2 1,475.8 1,492.2 Food............................. 515.3 553.5 591.9 636.9 657.6 669.3 697.9 728.2 755.8 786.0 817.0 853.4 714.6 725.4 733.1 739.6 745.5 753.6 Clothing and shoes............... 174.4 185.5 198.9 204.1 208.7 221.9 231.1 240.7 247.8 258.6 271.2 286.3 237.2 237.9 241.5 246.3 244.5 246.0 Gasoline, fuel oil, and other energy goods.................... 96.6 99.3 108.9 120.2 114.8 117.1 119.4 122.5 127.4 139.7 141.4 126.2 120.2 117.7 125.2 126.8 127.1 128.7 Gasoline and oil............... 85.4 87.7 97.0 107.3 102.5 104.9 106.6 109.0 113.3 124.2 126.2 112.9 105.7 104.8 111.5 113.8 113.9 114.3 Fuel oil and coal.............. 11.2 11.7 11.9 12.9 12.4 12.2 12.9 13.5 14.1 15.6 15.2 13.2 14.5 12.9 13.8 13.0 13.2 14.4 Other............................ 229.1 244.5 265.7 285.0 297.8 314.7 326.8 346.6 366.4 389.8 412.1 442.9 337.7 344.1 350.1 354.6 358.7 364.0 Services........................... 1,670.3 1,823.5 1,963.5 2,117.8 2,249.4 2,415.9 2,566.1 2,717.6 2,882.0 3,047.0 3,239.8 3,441.5 2,657.9 2,698.8 2,739.8 2,774.0 2,814.7 2,867.1 Housing.......................... 476.4 511.9 546.4 585.6 616.0 641.3 666.5 704.7 740.8 772.5 809.8 855.9 690.7 700.1 709.6 718.6 727.7 736.9 Household operation.............. 196.9 208.4 221.3 227.6 238.6 248.3 268.9 284.0 298.1 317.3 332.7 346.9 275.3 287.5 286.7 286.4 287.8 295.7 Electricity and gas............ 90.9 96.3 101.0 101.0 107.4 108.9 118.6 119.8 122.5 128.7 130.4 128.1 121.3 123.3 118.7 115.9 116.2 121.8 Other household operation...... 106.0 112.2 120.2 126.5 131.2 139.4 150.4 164.2 175.6 188.5 202.4 218.8 154.0 164.2 168.0 170.5 171.6 173.9 Transportation................... 118.2 129.9 136.6 141.8 142.8 155.0 166.2 180.9 197.7 214.2 234.4 245.2 174.3 179.1 183.1 186.9 190.4 195.5 Medical care..................... 381.8 429.9 479.2 540.6 591.0 652.6 700.6 737.3 780.7 814.4 850.2 894.3 723.4 732.3 741.5 752.0 767.6 776.2 Recreation....................... 87.7 99.0 110.1 120.8 126.4 139.1 151.2 160.0 176.0 191.1 205.3 221.0 156.4 158.5 161.5 163.7 168.6 174.5 Other............................ 409.3 444.4 469.9 501.5 534.5 579.5 612.6 650.7 688.7 737.5 807.4 878.2 637.7 641.3 657.5 666.5 672.7 688.3 Gross private domestic investment.... 781.5 821.1 872.9 861.7 800.2 866.6 955.1 1,097.1 1,143.8 1,242.7 1,383.7 1,531.2 1,042.0 1,106.4 1,094.0 1,146.1 1,162.8 1,133.1 Fixed investment................... 754.3 802.7 845.2 847.2 800.4 851.6 934.0 1,034.6 1,110.7 1,212.7 1,315.4 1,460.0 998.1 1,026.6 1,042.0 1,071.6 1,100.1 1,097.2 Nonresidential................... 526.7 568.4 613.4 630.3 608.9 626.1 682.2 748.6 825.1 899.4 986.1 1,091.3 721.7 738.2 752.7 781.8 812.5 820.3 Structures..................... 172.1 181.6 193.4 202.5 183.4 172.2 179.4 187.5 204.6 225.0 254.1 272.8 178.0 188.2 189.9 193.9 200.5 204.8 Nonresidential buildings, including farm.............. 126.0 133.8 142.7 149.1 124.2 113.2 119.3 129.0 144.3 161.7 180.9 197.0 120.5 131.1 130.8 133.7 140.2 144.7 Utilities.................... 26.5 26.6 29.5 28.4 33.7 36.7 34.8 34.0 35.8 36.0 36.5 39.2 34.0 33.5 34.0 34.5 35.4 36.1 Mining exploration, shafts, and wells................... 13.1 15.7 14.9 17.9 18.5 14.2 17.7 17.4 17.2 21.1 30.0 30.0 16.8 16.8 17.5 18.7 17.6 16.5 Other structures............. 6.5 5.5 6.2 7.2 6.9 8.2 7.7 7.0 7.3 6.2 6.7 6.5 6.7 6.8 7.6 7.0 7.3 7.5 Equipment and software......... 354.7 386.8 420.0 427.8 425.4 453.9 502.8 561.1 620.5 674.4 732.1 818.5 543.7 550.0 562.8 587.9 612.0 615.5 Information processing equipment and software...... 141.9 155.9 173.0 176.1 181.4 197.5 215.0 233.7 262.0 287.3 315.4 356.9 227.3 231.0 234.5 241.8 250.5 261.1 Computers and peripheral equipment................. 35.8 38.0 43.1 38.6 37.7 43.6 47.2 51.3 64.6 70.9 76.7 88.5 48.7 50.3 51.3 54.8 57.7 64.3 Software................... 31.4 36.7 44.4 50.2 56.6 60.8 69.4 75.5 83.5 95.1 106.6 123.4 73.9 75.0 75.9 77.1 78.8 81.8 Other...................... 74.8 81.2 85.5 87.3 87.1 93.1 98.4 106.9 113.8 121.3 132.1 144.9 104.6 105.7 107.4 110.0 114.0 115.0 Industrial equipment......... 76.1 83.5 92.7 91.5 88.7 92.4 101.8 113.3 128.7 136.4 142.3 150.2 109.4 110.5 114.5 119.0 124.7 128.9 Transportation equipment..... 70.4 76.1 71.4 75.7 79.5 86.1 98.1 117.8 126.1 138.9 150.9 176.0 114.0 112.8 116.4 127.8 134.0 122.4 Other........................ 66.2 71.3 83.0 84.5 75.8 77.9 87.9 96.3 103.7 111.8 123.5 135.5 93.0 95.7 97.4 99.2 102.9 103.1 Residential...................... 227.6 234.2 231.8 216.8 191.5 225.5 251.8 286.0 285.6 313.3 329.2 368.7 276.4 288.4 289.3 289.8 287.6 276.9 Structures..................... 221.8 228.2 225.7 210.8 185.8 219.6 245.4 279.1 278.3 305.6 321.3 360.4 269.9 281.6 282.4 282.7 280.3 269.8 Single family................ 114.5 116.6 116.9 108.7 95.4 116.5 133.3 153.8 145.0 159.1 164.4 189.5 150.4 156.9 155.0 153.0 149.1 140.1 Multifamily.................. 25.5 22.3 22.3 19.3 15.1 13.1 10.8 14.1 17.9 20.3 22.9 24.5 11.7 13.3 15.1 16.2 17.2 17.1 Other........................ 81.9 89.2 86.5 82.9 75.2 90.0 101.3 111.2 115.4 126.2 134.0 146.5 107.7 111.4 112.2 113.5 114.1 112.6 Equipment...................... 5.8 6.1 6.1 6.0 5.7 5.9 6.4 6.9 7.3 7.7 7.9 8.3 6.6 6.8 6.9 7.2 7.2 7.2 Change in private inventories...... 27.1 18.5 27.7 14.5 -.2 15.0 21.1 62.6 33.0 30.0 68.3 71.2 43.8 79.8 52.0 74.6 62.7 35.8 Farm............................. -6.4 -11.9 .0 2.4 -1.1 5.0 -5.9 10.8 -9.2 7.9 2.8 .3 15.0 15.5 9.6 3.1 -4.3 -11.5 Nonfarm.......................... 33.6 30.4 27.7 12.2 .9 10.1 27.0 51.8 42.2 22.1 65.6 70.9 28.8 64.3 42.5 71.5 67.0 47.4 Manufacturing.................. 7.9 16.4 14.1 8.8 -6.8 -4.7 3.5 11.9 14.2 10.1 22.0 24.1 10.2 12.2 10.2 14.9 21.3 15.5 Wholesale trade................ 6.7 8.5 4.1 8.2 4.5 8.3 6.3 16.4 14.1 3.1 24.0 22.4 .2 18.2 18.2 28.8 20.7 15.0 Retail trade................... 17.3 6.6 12.7 -1.6 .5 4.3 14.5 19.8 12.0 7.4 10.7 11.1 15.2 28.7 14.6 20.7 21.9 17.6 Other.......................... 1.7 -1.1 -3.3 -3.2 2.7 2.2 2.6 3.7 2.0 1.5 8.8 13.2 3.2 5.1 -.6 7.1 3.1 -.8 Net exports of goods and services.... -142.3 -106.3 -80.7 -71.4 -20.7 -27.9 -60.5 -87.1 -84.3 -89.0 -88.3 -149.6 -71.3 -84.2 -99.1 -93.8 -94.5 -109.0 Exports............................ 365.6 446.9 509.0 557.2 601.6 636.8 658.0 725.1 818.6 874.2 968.0 966.3 683.8 714.5 736.1 765.8 787.7 802.5 Goods............................ 257.5 325.8 371.7 398.5 426.4 448.7 459.7 509.6 583.8 618.4 689.0 681.3 475.8 499.5 518.8 544.3 563.6 574.3 Foods, feeds, and beverages.... 25.2 33.8 37.5 35.2 35.8 40.3 40.7 42.0 50.5 55.5 51.5 46.4 40.1 38.1 41.3 48.4 47.9 48.6 Industrial supplies and materials..................... 67.4 84.2 96.9 101.8 106.3 105.1 102.7 115.7 141.3 141.1 152.5 142.8 103.7 111.7 120.6 126.9 137.4 141.7 Capital goods, except automotive.................... 92.7 119.1 138.9 152.5 166.5 176.1 182.1 205.2 233.8 253.3 295.7 300.1 195.3 204.4 208.0 213.2 219.4 228.4 Automotive vehicles, engines, and parts..................... 27.6 33.4 34.9 36.5 40.0 47.0 52.5 57.8 61.8 65.0 74.0 73.2 54.2 57.0 58.0 62.0 64.0 59.9 Consumer goods, except automotive.................... 20.3 27.0 37.3 43.7 46.9 51.4 54.7 60.0 64.4 70.1 77.4 79.3 56.2 59.5 61.0 63.3 62.9 64.2 Other.......................... 24.3 28.3 26.2 28.9 31.0 28.8 27.0 28.9 32.1 33.5 37.8 39.5 26.3 28.8 29.9 30.6 32.0 31.5 Services......................... 108.1 121.1 137.3 158.6 175.2 188.1 198.3 215.5 234.7 255.8 279.0 285.1 208.0 215.0 217.3 221.5 224.1 228.2 Imports............................ 507.9 553.2 589.7 628.6 622.3 664.6 718.5 812.1 902.8 963.1 1,056.3 1,115.9 755.1 798.7 835.2 859.6 882.2 911.5 Goods............................ 414.8 452.1 484.5 508.0 500.7 544.9 592.8 676.7 757.6 808.3 885.1 930.4 622.0 664.6 698.2 722.0 740.4 766.9 Foods, feeds, and beverages.... 24.8 24.9 24.9 26.4 26.2 27.6 27.9 31.0 33.2 35.7 39.7 41.2 29.5 30.6 31.9 31.9 34.2 32.6 Industrial supplies and materials, except petroleum and products.................. 66.1 76.6 78.6 78.1 75.6 82.3 88.9 105.0 119.9 125.2 135.4 142.6 96.4 101.9 107.3 114.4 118.5 122.6 Petroleum and products......... 42.9 39.6 50.9 62.3 51.7 51.6 51.5 51.3 56.2 72.7 71.8 50.9 41.9 51.5 60.6 51.1 52.3 59.4 Capital goods, except automotive.................... 85.1 102.2 112.2 116.1 120.8 134.3 152.3 184.4 221.4 228.1 253.3 269.6 170.0 179.4 188.2 199.9 206.4 219.4 Automotive vehicles, engines, and parts..................... 85.2 87.9 87.4 88.5 85.7 91.8 102.4 118.3 123.8 128.9 139.8 149.1 107.9 115.3 121.3 128.5 129.1 126.6 Consumer goods, except automotive.................... 88.8 96.4 103.6 105.1 107.8 122.7 134.1 146.3 160.0 172.1 193.9 216.7 137.9 144.3 148.4 154.5 158.9 161.8 Other.......................... 21.8 24.3 26.9 31.6 32.9 34.6 35.7 40.6 43.1 45.6 51.2 60.4 38.5 41.6 40.6 41.7 40.8 44.6 Services......................... 93.1 101.1 105.2 120.6 121.6 119.8 125.7 135.4 145.2 154.8 171.2 185.5 133.0 134.1 137.0 137.6 141.8 144.6 Government consumption expenditures and gross investment................ 997.9 1,036.9 1,100.2 1,181.4 1,235.5 1,270.5 1,293.0 1,327.9 1,372.0 1,421.9 1,481.0 1,529.7 1,303.3 1,316.1 1,348.1 1,344.0 1,360.6 1,374.9 Federal............................ 460.4 462.6 482.6 508.4 527.4 534.5 527.3 521.1 521.5 531.6 537.8 538.7 515.8 515.9 532.5 520.0 523.4 525.5 National defense................. 351.2 355.9 363.2 374.9 384.5 378.5 364.9 355.1 350.6 357.0 352.5 348.6 349.4 353.9 366.9 350.4 352.2 353.9 Consumption expenditures....... 284.8 294.6 300.5 308.9 321.1 316.9 309.2 301.1 297.5 302.4 304.5 299.9 298.1 299.7 308.7 297.8 298.2 299.3 Gross investment............... 66.4 61.3 62.7 65.9 63.4 61.6 55.7 54.0 53.1 54.6 48.0 48.7 51.3 54.2 58.1 52.5 54.0 54.6 Nondefense....................... 109.3 106.8 119.3 133.6 142.9 156.0 162.4 165.9 170.9 174.6 185.3 190.1 166.3 162.0 165.6 169.7 171.2 171.6 Consumption expenditures....... 89.9 88.2 99.1 111.0 118.1 128.8 133.4 138.6 141.8 142.9 152.5 153.6 139.5 135.6 138.5 140.9 141.0 142.0 Gross investment............... 19.4 18.6 20.3 22.6 24.8 27.2 28.9 27.3 29.2 31.7 32.8 36.5 26.8 26.4 27.1 28.8 30.2 29.6 State and local.................... 537.5 574.3 617.7 673.0 708.1 736.0 765.7 806.8 850.5 890.4 943.2 991.0 787.5 800.2 815.6 824.0 837.1 849.4 Consumption expenditures....... 439.0 467.9 503.0 545.8 576.1 601.6 629.5 662.6 694.7 726.5 765.9 807.5 650.0 658.6 667.6 674.2 685.0 692.6 Gross investment............... 98.4 106.3 114.7 127.2 132.1 134.3 136.2 144.2 155.8 163.8 177.3 183.5 137.5 141.6 148.0 149.8 152.1 156.8 Addenda: Final sales of domestic product.... 4,715.3 5,089.8 5,461.4 5,788.7 5,986.4 6,303.9 6,621.2 6,991.8 7,367.5 7,783.2 8,232.4 8,688.7 6,844.0 6,936.0 7,044.0 7,143.1 7,234.8 7,306.8 Gross domestic purchases........... 4,884.7 5,214.6 5,569.8 5,874.7 6,006.9 6,346.8 6,702.8 7,141.4 7,484.8 7,902.1 8,389.1 8,909.5 6,959.1 7,100.0 7,195.1 7,311.5 7,392.0 7,451.6 Final sales to domestic purchasers. 4,857.6 5,196.1 5,542.1 5,860.1 6,007.1 6,331.7 6,681.7 7,078.9 7,451.7 7,872.1 8,320.7 8,838.3 6,915.2 7,020.2 7,143.1 7,236.9 7,329.3 7,415.8 Gross domestic product............. 4,742.5 5,108.3 5,489.1 5,803.2 5,986.2 6,318.9 6,642.3 7,054.3 7,400.5 7,813.2 8,300.8 8,759.9 6,887.8 7,015.7 7,096.0 7,217.7 7,297.5 7,342.6 Plus: Income receipts from the rest of the world........ 122.9 151.8 177.2 188.3 167.7 151.1 154.4 184.3 232.3 245.6 282.6 285.3 164.0 175.2 191.1 206.8 224.2 234.5 Less: Income payments to the rest of the world............. 109.2 133.4 156.8 159.3 143.0 127.6 130.1 167.5 211.9 227.5 278.4 295.2 143.3 158.5 176.0 191.9 202.8 209.2 Equals: Gross national product..... 4,756.2 5,126.8 5,509.4 5,832.2 6,010.9 6,342.3 6,666.7 7,071.1 7,420.9 7,831.2 8,305.0 8,750.0 6,908.5 7,032.4 7,111.1 7,232.6 7,318.9 7,367.9 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- See "Explanatory Note" at the end of the tables. Table 3A.--Gross Domestic Product and Related Measures--Continued [Billions of dollars; quarters seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- III 95 IV 95 I 96 II 96 III 96 IV 96 I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 III 99 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP).... 7,432.8 7,529.3 7,629.6 7,782.7 7,859.0 7,981.4 8,125.9 8,259.5 8,364.5 8,453.0 8,610.6 8,683.7 8,797.9 8,947.6 9,072.7 9,146.2 9,276.3 Personal consumption expenditures.... 5,005.2 5,058.4 5,130.5 5,218.0 5,263.7 5,337.9 5,430.8 5,466.3 5,569.1 5,631.3 5,714.7 5,816.2 5,889.6 5,973.7 6,090.8 6,200.8 6,296.0 Durable goods...................... 596.2 600.0 606.4 621.3 616.7 621.5 636.1 627.8 651.9 655.8 679.2 693.9 696.9 722.8 739.0 751.6 760.7 Motor vehicles and parts......... 252.3 251.7 256.3 259.2 255.4 254.2 262.6 253.0 269.1 267.8 278.6 288.2 285.6 304.4 306.8 313.8 317.0 Furniture and household equipment....................... 227.0 231.0 230.4 238.2 237.7 241.2 244.3 247.0 251.4 255.1 263.1 265.8 270.6 275.3 283.8 287.3 291.4 Other............................ 116.9 117.3 119.7 123.8 123.6 126.1 129.1 127.9 131.4 132.8 137.4 139.8 140.8 143.1 148.3 150.5 152.4 Nondurable goods................... 1,502.6 1,518.5 1,539.6 1,569.4 1,578.8 1,608.4 1,630.5 1,627.1 1,652.3 1,657.1 1,674.6 1,701.2 1,716.6 1,742.9 1,787.8 1,824.8 1,854.0 Food............................. 758.8 765.3 773.9 781.8 788.8 799.3 812.0 811.9 821.9 822.2 832.9 847.6 857.6 875.6 885.4 893.4 902.8 Clothing and shoes............... 249.3 251.2 253.0 259.0 259.3 263.0 267.3 267.3 274.5 275.7 282.5 287.1 286.6 289.2 301.8 306.7 308.4 Gasoline, fuel oil, and other energy goods.................... 126.9 126.8 133.9 142.1 138.4 144.5 145.9 139.0 140.4 140.2 130.9 127.7 125.2 120.9 120.1 136.3 146.0 Gasoline and oil............... 112.7 112.2 117.7 127.0 123.3 128.6 130.4 123.5 125.2 125.6 117.5 114.1 111.8 108.3 106.5 121.7 130.8 Fuel oil and coal.............. 14.2 14.6 16.1 15.1 15.0 16.0 15.5 15.5 15.2 14.7 13.5 13.6 13.4 12.6 13.7 14.6 15.2 Other............................ 367.6 375.3 378.9 386.4 392.3 401.6 405.3 408.9 415.4 419.0 428.3 438.8 447.3 457.2 480.5 488.4 496.8 Services........................... 2,906.3 2,939.9 2,984.4 3,027.4 3,068.2 3,107.9 3,164.2 3,211.4 3,265.0 3,318.5 3,360.9 3,421.1 3,476.1 3,508.0 3,564.0 3,624.3 3,681.3 Housing.......................... 744.9 753.7 760.4 768.1 776.6 785.1 794.5 804.5 814.7 825.4 837.5 850.0 861.8 874.3 885.6 897.3 907.6 Household operation.............. 304.6 304.2 314.6 318.3 313.4 322.7 324.7 328.4 333.7 344.0 336.1 348.0 356.0 347.3 356.2 360.3 366.0 Electricity and gas............ 127.3 124.7 131.3 130.0 124.6 129.1 128.8 128.5 128.9 135.2 123.6 131.4 134.6 122.9 128.3 129.4 133.6 Other household operation...... 177.3 179.6 183.3 188.4 188.9 193.6 196.0 199.9 204.8 208.8 212.5 216.6 221.5 224.5 227.9 230.9 232.4 Transportation................... 200.8 204.2 206.5 211.7 215.9 222.6 228.5 232.7 236.5 239.7 242.1 244.9 246.2 247.7 250.3 254.0 257.0 Medical care..................... 784.8 794.3 798.2 810.7 817.9 831.0 837.7 845.9 854.9 862.4 877.7 890.1 899.0 910.5 922.5 933.0 945.5 Recreation....................... 178.1 182.7 185.0 189.1 193.7 196.5 200.4 203.7 207.1 210.2 216.3 218.7 223.0 226.1 233.1 241.0 251.4 Other............................ 693.1 700.7 719.7 729.5 750.7 750.0 778.4 796.3 818.1 836.9 851.1 869.4 890.1 902.1 916.4 938.8 953.8 Gross private domestic investment.... 1,123.5 1,155.6 1,172.4 1,231.5 1,282.6 1,284.3 1,327.0 1,392.2 1,395.9 1,419.6 1,514.3 1,495.0 1,535.3 1,580.3 1,594.3 1,585.4 1,631.1 Fixed investment................... 1,110.1 1,135.4 1,165.6 1,201.7 1,232.6 1,250.9 1,274.1 1,299.6 1,338.3 1,349.4 1,415.4 1,454.2 1,461.7 1,508.9 1,543.3 1,567.8 1,600.0 Nonresidential................... 825.2 842.3 865.1 885.4 913.6 933.7 952.7 972.7 1,007.7 1,011.4 1,065.9 1,090.8 1,087.2 1,121.4 1,139.9 1,155.4 1,191.0 Structures..................... 206.2 207.0 213.4 220.0 226.3 240.3 247.6 247.8 257.8 263.1 267.4 274.0 271.7 278.0 274.7 272.5 270.9 Nonresidential buildings, including farm.............. 145.2 147.2 151.8 157.4 163.2 174.2 178.2 175.8 185.2 184.4 191.0 196.1 197.5 203.3 204.0 199.8 195.2 Utilities.................... 36.2 35.5 35.8 35.5 35.5 37.3 35.5 36.2 37.0 37.2 38.7 38.9 39.2 40.1 39.2 39.1 39.7 Mining exploration, shafts, and wells................... 17.0 17.8 19.0 20.7 21.6 23.0 28.2 30.2 29.5 32.2 31.3 32.1 28.8 28.0 25.2 26.0 29.2 Other structures............. 7.7 6.5 6.8 6.3 5.9 5.8 5.6 5.6 6.1 9.3 6.4 6.9 6.3 6.6 6.4 7.6 6.9 Equipment and software......... 619.0 635.3 651.7 665.4 687.3 693.4 705.2 724.9 749.9 748.3 798.4 816.8 815.4 843.4 865.2 882.9 920.0 Information processing equipment and software...... 263.1 273.2 280.0 283.4 290.9 294.8 303.1 309.9 322.7 325.9 343.4 353.3 361.0 369.7 382.3 401.7 424.5 Computers and peripheral equipment................. 65.6 70.7 70.5 69.6 71.6 71.7 73.8 75.7 79.0 78.4 85.9 88.6 89.1 90.5 92.3 96.4 106.0 Software................... 85.0 88.6 91.7 94.0 96.1 98.9 102.2 105.0 108.0 111.2 115.8 120.7 126.2 131.2 135.5 140.7 147.7 Other...................... 112.5 113.9 117.8 119.8 123.2 124.2 127.1 129.2 135.7 136.2 141.8 144.1 145.8 148.0 154.5 164.6 170.9 Industrial equipment......... 130.8 130.4 135.0 137.7 135.9 137.2 136.4 141.9 144.3 146.6 148.6 149.7 150.9 151.4 147.9 149.3 153.1 Transportation equipment..... 121.8 126.4 129.1 134.6 146.5 145.5 146.0 150.2 156.9 150.3 174.7 177.2 164.9 187.0 193.1 193.6 207.8 Other........................ 103.4 105.3 107.6 109.8 114.0 115.9 119.7 122.9 126.0 125.6 131.7 136.5 138.6 135.3 142.0 138.3 134.6 Residential...................... 284.9 293.1 300.5 316.3 319.0 317.2 321.4 326.8 330.7 338.0 349.5 363.4 374.5 387.5 403.4 412.4 409.1 Structures..................... 277.5 285.7 293.0 308.7 311.3 309.4 313.5 319.0 322.7 330.1 341.3 355.1 366.1 379.1 394.6 403.6 400.0 Single family................ 142.4 148.4 152.9 160.2 162.9 160.5 161.1 163.5 164.5 168.7 176.1 185.5 194.0 202.2 211.8 213.7 209.6 Multifamily.................. 18.4 18.9 19.9 21.7 19.5 20.2 22.0 22.9 22.4 24.2 25.0 23.9 24.1 24.8 27.7 27.5 27.0 Other........................ 116.6 118.3 120.3 126.8 129.0 128.7 130.4 132.6 135.9 137.2 140.2 145.8 148.0 152.1 155.1 162.4 163.4 Equipment...................... 7.4 7.5 7.5 7.7 7.7 7.8 7.9 7.8 7.9 7.9 8.2 8.3 8.4 8.5 8.7 8.9 9.0 Change in private inventories...... 13.4 20.2 6.8 29.8 50.0 33.5 52.9 92.6 57.6 70.2 98.9 40.8 73.7 71.4 51.0 17.6 31.1 Farm............................. -18.2 -2.7 1.0 11.1 16.0 3.3 -3.4 7.6 5.6 1.2 -2.0 -10.8 -1.1 15.2 10.1 4.8 -.2 Nonfarm.......................... 31.7 22.8 5.8 18.6 34.0 30.2 56.3 85.0 52.0 69.0 100.9 51.6 74.7 56.2 40.9 12.8 31.3 Manufacturing.................. 12.7 7.2 17.2 -3.4 14.0 12.6 22.9 29.2 17.1 18.7 36.9 27.0 21.2 11.5 .0 -7.8 1.0 Wholesale trade................ 13.7 7.0 3.5 5.1 -5.8 9.9 23.9 34.8 15.0 22.4 27.8 13.3 32.3 16.3 8.8 10.7 13.7 Retail trade................... 5.1 3.3 -14.6 15.6 23.1 5.5 -2.7 10.9 13.8 21.0 20.8 -3.1 10.9 15.6 17.5 5.9 17.4 Other.......................... .1 5.4 -.3 1.3 2.7 2.2 12.3 10.2 6.0 6.9 15.4 14.4 10.3 12.8 14.7 4.0 -.7 Net exports of goods and services.... -74.2 -59.3 -75.8 -89.8 -110.6 -79.7 -87.7 -77.5 -90.6 -97.4 -117.4 -153.9 -165.7 -161.2 -201.6 -245.8 -282.0 Exports............................ 834.1 850.0 853.3 864.7 865.6 913.1 929.6 965.3 988.6 988.6 974.3 960.1 949.1 981.8 966.9 978.2 1,009.9 Goods............................ 593.0 604.4 607.8 611.4 615.4 639.0 659.4 685.7 704.8 706.0 692.8 671.8 667.2 693.3 674.3 680.5 708.6 Foods, feeds, and beverages.... 52.8 52.6 55.9 57.4 54.8 54.1 51.7 51.0 49.8 53.6 49.4 45.9 42.8 47.5 43.2 45.3 46.7 Industrial supplies and materials..................... 143.8 142.0 140.4 137.6 139.9 146.3 147.5 152.8 155.2 154.8 149.3 143.4 138.8 139.7 133.6 137.0 142.7 Capital goods, except automotive.................... 239.5 247.8 249.7 249.6 249.1 264.5 277.8 293.4 307.9 303.9 300.7 291.6 299.0 309.2 301.7 299.5 320.3 Automotive vehicles, engines, and parts..................... 61.3 62.1 62.3 63.6 68.2 66.0 70.4 73.3 76.4 76.0 77.1 72.6 68.2 74.7 71.4 75.0 77.3 Consumer goods, except automotive.................... 65.1 65.6 68.3 69.0 70.0 72.9 75.5 77.5 77.8 78.7 78.4 79.2 80.3 79.2 79.6 79.1 79.2 Other.......................... 30.5 34.3 31.1 34.2 33.4 35.2 36.5 37.7 37.7 39.1 38.0 39.3 37.9 43.0 44.8 44.5 42.5 Services......................... 241.1 245.6 245.5 253.3 250.1 274.0 270.2 279.6 283.8 282.6 281.5 288.2 281.9 288.6 292.6 297.7 301.3 Imports............................ 908.3 909.3 929.1 954.5 976.1 992.8 1,017.3 1,042.8 1,079.2 1,086.0 1,091.7 1,114.0 1,114.8 1,143.1 1,168.5 1,224.0 1,291.9 Goods............................ 761.9 761.5 778.6 801.9 818.6 834.3 852.3 874.1 904.3 909.7 912.8 928.9 927.2 952.6 974.3 1,022.3 1,085.7 Foods, feeds, and beverages.... 33.0 32.9 33.8 35.7 36.3 37.0 37.5 39.5 41.2 40.6 40.8 41.3 41.3 41.6 41.7 43.8 44.0 Industrial supplies and materials, except petroleum and products.................. 119.6 119.1 121.4 122.9 126.8 129.5 131.4 133.6 137.7 138.9 140.8 145.0 144.3 140.3 140.0 143.8 151.9 Petroleum and products......... 57.7 55.2 58.6 74.2 75.5 82.6 77.5 70.7 70.3 68.5 54.4 53.6 49.8 45.8 42.4 63.7 77.7 Capital goods, except automotive.................... 226.8 233.1 230.6 225.3 226.2 230.3 237.1 250.6 262.0 263.5 266.7 269.2 268.2 274.2 279.1 291.7 305.1 Automotive vehicles, engines, and parts..................... 120.5 119.0 123.8 129.8 133.8 128.4 139.9 138.4 141.5 139.4 145.3 145.4 144.3 161.2 171.6 175.1 188.0 Consumer goods, except automotive.................... 162.0 157.5 165.0 167.5 175.0 180.9 182.4 191.4 197.4 204.5 209.4 217.1 219.0 221.1 229.2 232.8 243.3 Other.......................... 42.4 44.7 45.3 46.5 45.1 45.6 46.6 49.8 54.1 54.3 55.3 57.3 60.3 68.5 70.3 71.4 75.6 Services......................... 146.4 147.8 150.5 152.6 157.5 158.5 165.0 168.7 174.9 176.3 178.9 185.1 187.7 190.4 194.2 201.7 206.2 Government consumption expenditures and gross investment................ 1,378.3 1,374.5 1,402.6 1,423.0 1,423.4 1,438.9 1,455.8 1,478.6 1,490.1 1,499.5 1,499.0 1,526.5 1,538.7 1,554.8 1,589.1 1,605.9 1,631.2 Federal............................ 525.0 512.3 530.6 537.2 529.1 529.4 530.2 543.0 540.9 537.1 526.1 542.2 539.7 546.7 557.4 561.6 567.7 National defense................. 352.7 343.6 356.1 361.3 355.6 355.0 347.0 354.9 354.5 353.6 338.9 347.9 354.7 352.9 355.8 354.3 364.0 Consumption expenditures....... 301.2 291.2 298.4 304.1 301.4 305.6 301.7 308.2 305.0 303.0 292.4 301.2 302.5 303.4 304.6 300.8 311.1 Gross investment............... 51.5 52.4 57.7 57.2 54.3 49.4 45.3 46.8 49.5 50.6 46.5 46.8 52.2 49.5 51.2 53.5 52.9 Nondefense....................... 172.3 168.7 174.5 175.9 173.5 174.5 183.2 188.1 186.4 183.5 187.2 194.3 185.0 193.8 201.6 207.3 203.7 Consumption expenditures....... 143.3 140.6 143.4 142.9 141.5 143.8 151.0 153.4 153.1 152.6 152.6 156.3 149.0 156.5 162.4 164.4 162.3 Gross investment............... 28.9 28.1 31.1 33.1 31.9 30.6 32.2 34.7 33.3 30.9 34.5 38.0 36.1 37.2 39.2 42.9 41.4 State and local.................... 853.3 862.2 872.0 885.7 894.3 909.4 925.6 935.6 949.2 962.3 972.9 984.2 999.0 1,008.1 1,031.8 1,044.3 1,063.5 Consumption expenditures....... 697.3 703.8 712.5 723.0 730.6 740.0 751.0 759.1 770.5 782.8 791.5 802.7 813.8 822.2 832.4 848.4 866.2 Gross investment............... 156.0 158.4 159.5 162.7 163.7 169.4 174.6 176.4 178.7 179.5 181.4 181.5 185.2 185.9 199.4 195.8 197.3 Addenda: Final sales of domestic product.... 7,419.4 7,509.1 7,622.8 7,752.9 7,809.0 7,947.9 8,073.0 8,166.9 8,306.9 8,382.8 8,511.7 8,642.9 8,724.2 8,876.2 9,021.6 9,128.6 9,245.2 Gross domestic purchases........... 7,507.0 7,588.5 7,705.4 7,872.4 7,969.6 8,061.1 8,213.6 8,337.0 8,455.1 8,550.4 8,728.0 8,837.7 8,963.6 9,108.8 9,274.2 9,392.0 9,558.4 Final sales to domestic purchasers. 7,493.6 7,568.3 7,698.6 7,842.7 7,919.6 8,027.6 8,160.7 8,244.4 8,397.6 8,480.2 8,629.0 8,796.9 8,889.9 9,037.4 9,223.2 9,374.4 9,527.3 Gross domestic product............. 7,432.8 7,529.3 7,629.6 7,782.7 7,859.0 7,981.4 8,125.9 8,259.5 8,364.5 8,453.0 8,610.6 8,683.7 8,797.9 8,947.6 9,072.7 9,146.2 9,276.3 Plus: Income receipts from the rest of the world........ 231.6 238.7 239.1 237.7 245.6 259.8 268.9 284.9 290.9 285.7 291.1 292.9 276.4 280.8 283.8 296.1 ..... Less: Income payments to the rest of the world............. 220.4 215.3 212.3 220.0 234.1 243.5 263.7 275.4 288.9 285.5 288.0 292.9 302.0 297.9 298.2 310.4 ..... Equals: Gross national product..... 7,444.1 7,552.7 7,656.5 7,800.3 7,870.5 7,997.7 8,131.1 8,269.1 8,366.5 8,453.3 8,613.7 8,683.7 8,772.2 8,930.5 9,058.2 9,131.9 ..... ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- See "Explanatory Note" at the end of the tables. Table 3B.--Real Gross Domestic Product and Related Measures [Billions of chained (1996) dollars; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 I 94 II 94 III 94 IV 94 I 95 II 95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP).... 6,092.6 6,349.1 6,568.7 6,683.5 6,669.2 6,891.1 7,054.1 7,337.8 7,537.1 7,813.2 8,165.1 8,516.3 7,218.5 7,319.8 7,360.5 7,452.3 7,480.4 7,496.0 Personal consumption expenditures.... 4,096.0 4,263.2 4,374.4 4,454.1 4,460.6 4,603.8 4,741.9 4,920.0 5,070.1 5,237.5 5,433.7 5,698.6 4,857.6 4,899.2 4,936.7 4,986.4 5,004.7 5,053.6 Durable goods...................... 455.2 481.5 491.7 487.1 454.9 479.0 518.3 557.7 583.5 616.5 657.4 731.5 546.9 551.7 557.7 574.3 570.4 577.4 Motor vehicles and parts......... 242.4 254.9 253.9 246.1 211.8 225.7 242.2 255.1 253.4 256.3 263.8 291.9 258.2 253.3 251.4 257.5 250.7 252.2 Furniture and household equipment....................... 133.3 142.3 149.9 150.9 152.7 161.5 177.4 196.3 215.4 236.9 262.1 297.4 187.1 193.1 198.6 206.4 207.7 211.1 Other............................ 88.9 93.8 95.7 96.7 92.6 94.1 100.7 107.6 115.0 123.3 131.6 142.7 103.9 106.7 108.8 111.2 112.5 114.5 Nondurable goods................... 1,274.5 1,315.1 1,351.0 1,369.6 1,364.0 1,389.7 1,430.3 1,485.1 1,529.0 1,574.1 1,619.9 1,685.3 1,465.3 1,477.6 1,490.9 1,506.5 1,514.3 1,525.3 Food............................. 664.6 690.7 703.5 722.4 721.4 725.6 745.1 764.9 777.0 786.0 799.1 820.6 756.0 764.7 767.2 771.6 773.4 776.0 Clothing and shoes............... 182.4 187.8 198.6 197.2 197.8 208.8 218.5 231.6 244.3 258.6 271.1 292.2 227.6 227.3 232.2 239.2 240.1 242.4 Gasoline, fuel oil, and other energy goods.................... 127.1 129.7 130.8 126.2 122.4 125.7 129.4 132.4 135.9 139.7 141.3 142.1 132.5 131.6 132.8 132.8 134.4 136.0 Gasoline and oil............... 112.8 114.9 116.4 113.1 109.4 112.5 115.4 117.4 120.2 124.2 126.2 127.7 116.6 117.3 117.6 118.3 119.5 120.0 Fuel oil and coal.............. 14.2 14.7 14.4 13.1 12.9 13.2 14.0 15.0 15.7 15.6 15.1 14.5 15.9 14.3 15.2 14.5 14.8 16.1 Other............................ 303.4 309.9 319.9 326.7 325.1 331.2 338.5 356.8 372.0 389.8 408.5 430.6 349.9 354.9 359.3 363.2 366.8 371.2 Services........................... 2,361.5 2,460.6 2,526.1 2,595.1 2,645.5 2,739.4 2,795.4 2,878.0 2,957.8 3,047.0 3,156.7 3,284.5 2,846.4 2,870.9 2,888.9 2,905.7 2,920.4 2,951.3 Housing.......................... 644.8 663.4 679.9 696.2 709.8 719.3 728.1 749.1 763.7 772.6 786.5 805.6 741.9 746.1 752.1 756.5 759.8 762.6 Household operation.............. 238.0 248.2 257.2 259.8 262.9 267.6 282.3 293.0 304.0 317.3 327.1 344.3 284.9 296.8 295.3 294.9 293.9 302.2 Electricity and gas............ 106.9 112.3 114.7 112.8 116.3 115.7 122.2 122.8 125.3 128.7 127.5 129.6 124.0 126.4 121.7 119.2 118.8 125.1 Other household operation...... 130.9 135.7 142.3 146.9 146.4 151.8 160.0 170.2 178.7 188.5 199.6 214.7 160.8 170.5 173.6 175.7 175.1 177.2 Transportation................... 164.6 172.8 174.6 173.4 164.7 171.1 176.6 189.0 201.0 214.2 226.3 234.2 183.8 187.4 190.7 194.2 196.7 198.8 Medical care..................... 631.0 659.9 678.5 710.9 734.4 765.4 775.4 783.1 797.7 814.4 831.0 854.4 778.5 782.0 784.3 787.7 791.1 795.6 Recreation....................... 120.2 130.7 139.2 145.0 144.5 154.5 163.0 169.3 181.7 191.1 199.1 208.8 166.0 168.0 170.8 172.2 176.1 180.8 Other............................ 560.7 583.8 594.8 609.4 629.8 662.7 670.5 694.6 709.6 737.5 786.6 837.3 691.8 690.5 695.8 700.3 703.0 711.3 Gross private domestic investment.... 879.3 902.8 936.5 907.3 829.5 899.8 977.9 1,107.0 1,140.6 1,242.7 1,385.8 1,547.4 1,057.3 1,118.5 1,101.8 1,150.5 1,162.4 1,128.5 Fixed investment................... 856.0 887.1 911.2 894.6 832.5 886.5 958.4 1,045.9 1,109.2 1,212.7 1,316.0 1,471.8 1,014.9 1,039.9 1,050.9 1,078.0 1,101.9 1,095.0 Nonresidential................... 572.5 603.6 637.0 641.7 610.1 630.6 683.6 744.6 817.5 899.4 995.7 1,122.5 720.0 734.1 747.2 777.1 806.4 811.4 Structures..................... 224.3 227.1 232.7 236.1 210.1 197.3 198.9 200.5 210.1 225.0 244.0 254.1 193.2 202.9 202.3 203.8 208.1 211.0 Nonresidential buildings, including farm.............. 162.6 166.5 171.4 173.6 142.7 129.2 131.7 137.2 147.6 161.7 175.3 184.6 130.2 140.7 138.5 139.6 144.5 148.3 Utilities.................... 34.9 33.6 35.4 33.0 38.9 41.8 38.4 36.1 36.8 36.0 35.7 38.0 36.5 35.7 36.0 36.1 36.9 37.3 Mining exploration, shafts, and wells................... 18.6 20.4 18.4 21.3 20.8 17.2 20.5 19.8 18.2 21.1 26.4 25.4 19.3 19.2 19.7 20.8 19.1 17.6 Other structures............. 8.2 6.8 7.5 8.3 7.8 9.2 8.5 7.6 7.5 6.2 6.5 6.2 7.3 7.4 8.2 7.4 7.7 7.8 Equipment and software......... 360.0 386.9 414.0 415.7 407.2 437.5 487.1 544.9 607.6 674.4 751.9 870.6 527.4 532.6 545.7 573.7 598.5 600.7 Information processing equipment and software...... 105.1 116.4 131.3 136.4 142.7 163.0 183.4 206.6 242.8 287.3 339.4 418.5 198.2 202.8 208.0 217.5 227.5 239.2 Computers and peripheral equipment................. 10.3 11.8 14.4 14.2 15.4 20.8 26.4 32.6 49.2 70.9 99.0 154.2 29.7 31.2 32.8 36.7 40.5 47.0 Software................... 27.9 32.4 40.1 45.9 51.4 58.7 66.8 74.3 82.0 95.1 109.4 129.2 72.2 73.7 74.9 76.3 77.5 80.1 Other...................... 78.0 83.5 86.8 87.6 86.4 91.5 96.4 104.9 113.1 121.3 132.7 147.1 102.3 103.4 105.4 108.6 112.8 113.9 Industrial equipment......... 99.9 104.9 112.4 105.8 99.0 100.8 109.6 119.6 131.3 136.4 141.3 148.1 116.7 117.1 120.5 124.3 129.3 131.8 Transportation equipment..... 88.0 93.6 84.9 87.4 87.7 92.3 103.4 120.4 128.2 138.9 149.6 175.3 117.4 115.0 118.2 131.1 137.3 124.7 Other........................ 83.8 87.7 98.1 96.2 83.6 84.1 93.3 100.6 106.2 111.8 122.2 132.3 97.9 99.9 101.3 103.3 106.6 105.9 Residential...................... 290.7 289.2 277.3 253.5 221.1 257.2 276.0 302.7 291.7 313.3 320.6 350.2 296.5 307.5 305.2 301.8 295.8 283.5 Structures..................... 284.7 283.0 271.0 247.3 215.1 251.0 269.4 295.8 284.4 305.6 312.7 341.8 289.8 300.6 298.2 294.6 288.5 276.3 Single family................ 149.5 146.9 142.0 128.6 112.3 135.7 148.0 163.2 147.7 159.1 159.8 180.3 162.4 168.3 163.6 158.6 152.7 143.0 Multifamily.................. 29.3 25.0 24.9 21.7 16.8 14.2 11.5 14.8 18.4 20.3 21.9 21.8 12.4 14.1 15.9 16.9 17.7 17.6 Other........................ 104.9 110.5 103.4 96.4 85.6 100.9 109.9 117.7 118.3 126.2 131.0 139.8 115.0 118.2 118.6 119.1 118.1 115.7 Equipment...................... 6.1 6.3 6.4 6.2 5.9 6.1 6.5 6.9 7.4 7.7 7.9 8.4 6.7 6.9 7.0 7.2 7.3 7.2 Change in private inventories...... 29.6 18.4 29.6 16.5 -1.0 17.1 20.0 66.8 30.4 30.0 69.1 74.3 47.8 85.8 56.3 77.4 62.2 32.5 Farm............................. -9.8 -14.2 .1 2.6 -2.3 6.1 -7.9 13.0 -12.3 7.9 3.0 .9 16.5 18.6 12.7 4.2 -5.6 -14.9 Nonfarm.......................... 38.7 33.7 29.9 13.8 1.4 10.7 28.6 53.6 42.6 22.1 66.2 73.2 30.2 66.8 44.0 73.2 67.9 47.3 Manufacturing.................. 8.5 17.0 14.2 8.9 -6.8 -4.7 3.6 12.1 14.1 10.1 22.1 25.1 10.5 12.5 10.4 14.9 21.2 15.3 Wholesale trade................ 8.0 9.9 4.7 9.1 5.1 8.9 6.9 17.1 14.3 3.1 24.4 23.4 .3 19.2 19.1 29.8 21.2 15.2 Retail trade................... 21.2 7.6 14.5 -1.6 .5 4.6 15.4 20.5 12.2 7.4 10.8 11.1 15.9 29.8 15.2 21.3 22.4 17.8 Other.......................... 2.0 -1.2 -3.6 -3.0 3.0 2.3 2.8 4.0 2.0 1.5 8.9 13.9 3.5 5.4 -.6 7.7 3.1 -1.1 Net exports of goods and services.... -157.6 -113.5 -81.2 -58.6 -16.4 -18.7 -59.9 -87.6 -79.2 -89.0 -109.8 -215.1 -81.2 -87.2 -93.2 -88.6 -93.4 -98.3 Exports............................ 406.6 472.2 527.6 573.6 612.6 652.1 671.9 731.8 807.4 874.2 985.4 1,007.1 695.7 724.0 741.4 766.2 779.7 788.1 Goods............................ 271.4 322.6 363.2 393.2 421.1 449.8 463.4 508.2 568.8 618.4 708.1 722.8 478.0 500.0 516.8 538.0 549.8 556.5 Foods, feeds, and beverages.... 37.4 41.1 44.2 44.4 45.2 51.2 51.0 50.9 56.4 55.5 55.6 55.1 47.4 45.7 51.2 59.2 57.6 56.4 Industrial supplies and materials..................... 84.3 95.0 107.3 111.7 119.6 121.6 118.3 125.1 134.7 141.1 153.2 151.5 118.5 124.4 128.6 128.7 131.8 131.9 Capital goods, except automotive.................... 73.5 93.4 109.8 124.8 136.9 149.4 158.9 183.5 218.6 253.3 311.1 324.5 172.6 181.5 186.2 193.6 201.1 211.8 Automotive vehicles, engines, and parts..................... 32.3 38.4 39.2 39.8 42.5 49.0 54.3 59.1 62.5 65.0 73.4 72.5 55.8 58.4 59.2 63.2 65.0 60.8 Consumer goods, except automotive.................... 24.9 31.8 42.5 48.1 49.9 53.6 56.3 61.6 65.3 70.1 76.8 78.7 57.8 61.1 62.7 64.9 64.2 65.0 Other.......................... 30.9 33.4 30.0 32.4 34.2 31.5 29.2 30.3 32.0 33.5 38.2 40.9 27.9 30.4 31.2 31.6 32.3 31.4 Services......................... 137.5 150.5 164.7 181.2 192.2 202.8 209.0 224.0 238.8 255.8 277.5 284.4 218.3 224.5 224.9 228.4 229.9 231.7 Imports............................ 564.2 585.6 608.8 632.2 629.0 670.8 731.8 819.4 886.6 963.1 1,095.2 1,222.2 776.8 811.3 834.6 854.8 873.1 886.4 Goods............................ 445.8 463.9 483.4 497.9 497.6 543.7 598.4 677.9 739.1 808.3 923.2 1,031.6 636.1 669.5 692.8 713.3 725.5 740.3 Foods, feeds, and beverages.... 29.8 28.6 29.2 30.4 29.0 30.6 31.0 31.8 32.5 35.7 39.3 42.2 32.0 32.3 31.8 31.1 33.1 31.9 Industrial supplies and materials, except petroleum and products.................. 83.4 84.3 82.3 83.6 82.1 90.2 98.2 112.6 118.3 125.2 135.6 150.2 106.1 111.2 114.8 118.4 119.3 121.0 Petroleum and products......... 49.2 54.4 58.7 59.5 56.5 58.6 64.6 68.6 67.6 72.7 76.1 81.4 65.0 69.0 74.2 66.3 64.3 66.7 Capital goods, except automotive.................... 63.2 72.8 82.3 88.8 95.5 110.2 128.3 157.6 194.0 228.1 286.0 328.3 144.9 153.0 160.8 171.5 178.2 188.7 Automotive vehicles, engines, and parts..................... 106.5 103.8 101.1 101.6 94.7 99.7 109.5 122.5 124.6 128.9 139.5 148.6 113.1 120.2 125.7 131.2 131.6 127.3 Consumer goods, except automotive.................... 108.1 109.7 114.7 112.8 114.8 126.8 137.5 148.9 160.6 172.1 196.3 222.3 141.0 147.3 150.9 156.6 160.6 162.1 Other.......................... 27.2 28.2 30.4 35.2 36.1 37.4 38.1 42.2 43.2 45.6 51.5 60.4 40.6 43.5 42.0 42.7 41.4 44.6 Services......................... 120.2 123.4 126.9 136.6 133.4 128.0 134.0 141.9 147.7 154.8 172.1 190.7 141.4 142.3 142.1 141.6 147.9 146.2 Government consumption expenditures and gross investment................ 1,290.9 1,306.1 1,341.8 1,385.5 1,402.8 1,410.7 1,398.1 1,399.4 1,405.9 1,421.9 1,455.1 1,480.3 1,387.3 1,389.7 1,416.8 1,403.9 1,406.8 1,413.5 Federal............................ 597.5 586.7 594.5 606.6 604.8 595.2 571.9 551.2 536.4 531.6 530.9 526.1 550.7 545.1 563.1 546.0 544.0 544.2 National defense................. 450.2 446.8 443.3 443.2 438.4 417.1 394.7 375.9 361.9 357.0 348.3 341.7 373.3 374.5 387.8 367.8 366.9 367.0 Consumption expenditures....... 373.2 376.1 372.4 369.7 369.5 350.6 336.1 320.5 308.7 302.4 299.4 291.4 320.1 319.2 328.2 314.5 312.2 312.2 Gross investment............... 76.3 70.6 70.8 73.2 68.9 66.4 58.6 55.4 53.2 54.6 48.7 50.3 53.4 55.4 59.6 53.4 54.7 54.8 Nondefense....................... 146.3 138.7 150.3 162.8 165.9 178.0 177.2 175.4 174.5 174.6 182.7 184.4 177.4 170.6 175.3 178.2 177.2 177.2 Consumption expenditures....... 125.1 119.0 129.4 139.8 140.9 150.1 147.7 147.9 145.6 142.9 149.6 147.3 150.4 144.0 148.0 149.3 147.0 147.9 Gross investment............... 21.5 20.1 21.5 23.5 25.4 28.0 29.5 27.6 29.0 31.7 33.1 37.2 27.2 26.7 27.4 29.0 30.2 29.4 State and local.................... 694.4 720.3 748.1 779.6 798.4 815.8 826.5 848.3 869.5 890.4 924.1 953.9 836.7 844.8 853.9 858.0 862.8 869.3 Consumption expenditures....... 576.1 595.6 616.5 637.4 652.9 668.4 679.9 696.9 710.9 726.5 749.8 775.1 690.7 695.2 699.1 702.6 706.6 709.3 Gross investment............... 118.8 125.0 131.8 142.2 145.5 147.4 146.6 151.4 158.6 163.8 174.3 178.8 146.0 149.5 154.8 155.4 156.2 160.0 Residual............................. -64.6 -52.3 -38.1 -39.2 -35.7 -30.2 -19.4 -15.5 -1.6 -.3 -1.2 -14.6 -18.2 -16.2 -15.0 -13.7 -8.4 -3.2 Addenda: Final sales of domestic product.... 6,068.2 6,333.4 6,542.4 6,671.3 6,674.2 6,878.7 7,035.3 7,275.9 7,505.5 7,783.2 8,095.7 8,441.3 7,176.3 7,239.8 7,308.9 7,378.4 7,419.1 7,462.3 Gross domestic purchases........... 6,267.2 6,471.9 6,653.7 6,742.9 6,682.0 6,906.4 7,113.1 7,425.3 7,615.8 7,902.1 8,273.9 8,723.2 7,299.6 7,406.9 7,453.8 7,540.9 7,574.0 7,594.6 Final sales to domestic purchasers. 6,243.0 6,456.4 6,627.5 6,730.6 6,687.0 6,894.0 7,094.2 7,363.4 7,584.3 7,872.1 8,204.5 8,648.1 7,257.3 7,326.9 7,402.3 7,467.0 7,512.6 7,560.9 Gross domestic product............. 6,092.6 6,349.1 6,568.7 6,683.5 6,669.2 6,891.1 7,054.1 7,337.8 7,537.1 7,813.2 8,165.1 8,516.3 7,218.5 7,319.8 7,360.5 7,452.3 7,480.4 7,496.0 Plus: Income receipts from the rest of the world........ 161.6 192.6 215.7 219.2 188.4 165.1 164.6 191.9 236.5 245.6 278.1 279.2 172.6 183.2 198.3 213.4 230.0 239.2 Less: Income payments to the rest of the world............. 142.3 168.1 189.7 184.6 160.7 140.4 138.5 174.2 215.5 227.5 274.4 289.6 151.1 166.0 182.3 197.5 207.7 213.1 Equals: Gross national product..... 6,112.2 6,373.7 6,594.7 6,718.1 6,696.9 6,915.8 7,080.3 7,355.5 7,558.0 7,831.2 8,168.8 8,506.0 7,240.1 7,337.0 7,376.6 7,468.2 7,502.7 7,522.0 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- See note at the end of the table. Table 3B.--Real Gross Domestic Product and Related Measures--Continued [Billions of chained (1996) dollars; quarters seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- III 95 IV 95 I 96 II 96 III 96 IV 96 I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 III 99 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP).... 7,555.0 7,616.8 7,671.4 7,800.5 7,843.3 7,937.5 8,033.4 8,134.8 8,214.8 8,277.3 8,412.7 8,457.2 8,536.0 8,659.2 8,737.9 8,778.6 8,882.6 Personal consumption expenditures.... 5,094.0 5,128.0 5,170.3 5,227.5 5,255.4 5,296.8 5,361.1 5,385.1 5,471.8 5,517.1 5,592.3 5,675.6 5,730.7 5,795.8 5,888.4 5,961.8 6,025.1 Durable goods...................... 590.7 595.7 601.7 620.4 618.1 625.7 642.1 639.7 669.7 678.0 704.9 723.9 731.2 766.0 788.8 806.1 819.9 Motor vehicles and parts......... 256.4 254.4 257.0 259.6 255.2 253.4 261.1 252.9 270.9 270.4 281.5 291.7 286.7 307.4 310.4 317.2 318.4 Furniture and household equipment....................... 218.1 224.6 226.1 237.2 238.7 245.5 251.4 257.8 266.2 273.1 284.8 290.4 301.7 312.6 326.7 335.5 345.3 Other............................ 116.6 116.7 118.7 123.6 124.1 126.7 129.6 129.3 132.8 134.7 138.9 141.9 143.7 146.5 152.9 154.7 158.2 Nondurable goods................... 1,531.7 1,544.6 1,553.9 1,569.9 1,578.6 1,593.9 1,609.0 1,608.2 1,630.7 1,631.8 1,654.9 1,681.9 1,692.0 1,712.6 1,749.5 1,763.7 1,779.3 Food............................. 778.0 780.6 784.5 785.5 785.3 788.5 798.7 796.7 802.2 798.9 805.7 818.2 823.0 835.4 839.5 844.6 849.0 Clothing and shoes............... 246.3 248.4 250.7 257.8 261.6 264.3 267.8 264.7 274.7 277.1 287.8 293.1 292.2 295.6 314.7 316.8 322.0 Gasoline, fuel oil, and other energy goods.................... 135.7 137.7 138.5 139.6 140.0 140.7 139.4 142.1 142.2 141.4 140.9 142.5 143.1 141.9 142.9 143.9 145.8 Gasoline and oil............... 120.0 121.5 121.9 124.4 124.5 125.9 125.1 126.7 126.6 126.4 126.6 127.9 128.5 127.7 127.1 127.5 129.7 Fuel oil and coal.............. 15.7 16.3 16.6 15.3 15.5 14.9 14.3 15.3 15.6 15.1 14.2 14.7 14.7 14.2 15.8 16.4 16.1 Other............................ 371.9 378.1 380.2 386.9 391.7 400.4 403.1 404.8 411.7 414.6 420.9 428.3 433.9 439.4 452.6 458.6 463.0 Services........................... 2,971.8 2,987.8 3,014.8 3,037.2 3,058.8 3,077.2 3,110.1 3,137.0 3,172.0 3,207.8 3,234.2 3,272.2 3,309.6 3,322.0 3,356.5 3,399.2 3,433.7 Housing.......................... 764.9 767.6 768.7 770.8 773.6 777.0 781.2 784.2 788.1 792.6 798.4 804.1 808.0 812.0 818.4 823.1 828.4 Household operation.............. 310.5 309.3 317.6 319.1 312.3 320.1 318.5 323.4 328.5 337.9 333.5 344.7 353.7 345.4 354.0 358.8 363.6 Electricity and gas............ 130.3 127.2 132.8 130.5 123.8 127.9 124.7 126.5 126.6 132.2 124.1 132.2 136.6 125.7 131.1 132.2 135.2 Other household operation...... 180.3 182.1 184.9 188.6 188.5 192.2 193.8 196.9 201.9 205.7 209.4 212.6 217.2 219.6 222.8 226.4 228.3 Transportation................... 202.5 206.0 210.2 212.7 215.3 218.5 223.3 225.0 227.9 229.1 231.6 234.4 234.6 236.1 237.7 239.9 242.7 Medical care..................... 799.8 804.5 804.1 812.7 816.3 824.6 824.1 828.5 833.3 838.2 846.4 852.7 856.4 862.2 865.6 872.0 878.8 Recreation....................... 183.4 186.7 187.6 189.9 192.7 194.0 196.6 198.3 199.6 202.0 205.5 206.5 210.3 212.8 218.4 225.0 231.7 Other............................ 710.6 713.8 726.6 731.8 748.5 742.9 766.3 777.6 794.5 808.2 818.6 829.9 847.1 853.6 862.7 880.8 888.9 Gross private domestic investment.... 1,119.1 1,152.4 1,172.3 1,233.4 1,281.4 1,283.7 1,326.5 1,394.1 1,397.6 1,424.9 1,531.5 1,513.1 1,551.1 1,593.9 1,608.2 1,599.8 1,650.5 Fixed investment................... 1,107.1 1,132.7 1,165.2 1,203.7 1,231.6 1,250.2 1,274.1 1,300.6 1,337.9 1,351.3 1,424.2 1,466.7 1,474.0 1,522.5 1,555.9 1,581.0 1,615.4 Nonresidential................... 816.7 835.5 861.6 885.6 914.3 936.2 957.9 980.8 1,018.0 1,026.1 1,088.6 1,120.2 1,120.3 1,160.8 1,182.7 1,202.9 1,245.4 Structures..................... 210.9 210.4 215.9 221.3 225.4 237.3 242.0 239.5 245.9 248.6 252.1 256.4 252.1 255.7 251.9 248.5 245.3 Nonresidential buildings, including farm.............. 148.1 149.4 153.4 158.3 162.4 172.4 175.1 171.4 178.5 176.1 181.7 184.9 184.2 187.4 186.6 181.2 175.5 Utilities.................... 37.0 36.0 36.1 35.7 35.5 36.8 35.1 35.4 36.0 36.2 37.6 37.7 37.9 38.7 38.1 38.0 38.3 Mining exploration, shafts, and wells................... 17.9 18.4 19.6 21.0 21.5 22.3 26.2 26.9 25.4 27.1 26.5 27.1 24.2 23.6 21.6 22.6 25.4 Other structures............. 7.9 6.6 6.8 6.4 5.9 5.7 5.5 5.5 5.9 9.0 6.1 6.6 5.9 6.2 6.0 7.1 6.4 Equipment and software......... 606.0 625.0 645.8 664.3 688.9 698.8 715.8 741.5 772.3 777.8 837.9 865.5 870.6 908.5 935.7 960.9 1,009.2 Information processing equipment and software...... 245.0 259.4 271.7 281.4 293.6 302.4 316.9 330.0 350.2 360.4 388.8 409.4 427.4 448.5 470.4 501.0 536.7 Computers and peripheral equipment................. 50.8 58.4 63.1 67.9 73.9 78.5 85.8 94.2 105.1 110.9 131.3 146.9 160.4 178.3 193.4 212.9 245.8 Software................... 83.3 87.2 90.7 93.6 96.4 99.8 104.0 107.1 111.1 115.3 120.9 126.2 131.9 137.8 141.6 147.0 154.5 Other...................... 111.9 113.8 117.8 119.7 123.3 124.3 127.6 129.9 136.2 137.1 143.1 146.3 148.3 150.9 157.8 168.4 175.4 Industrial equipment......... 132.7 131.6 135.6 138.0 135.7 136.5 135.6 141.1 143.2 145.1 147.0 147.9 148.7 148.9 145.0 146.6 150.1 Transportation equipment..... 123.3 127.5 130.2 134.7 145.8 144.9 144.9 149.1 155.0 149.6 174.2 177.0 164.2 185.8 190.8 191.6 207.1 Other........................ 105.6 106.7 108.3 110.2 113.8 115.0 118.6 121.6 124.7 124.0 129.4 133.8 135.1 131.0 137.0 133.3 130.0 Residential...................... 290.4 297.3 303.6 318.1 317.3 314.0 316.3 320.0 320.5 325.7 336.5 347.4 354.2 362.6 373.7 378.8 372.7 Structures..................... 283.0 289.7 296.1 310.4 309.7 306.3 308.5 312.2 312.5 317.7 328.4 339.0 345.8 354.0 364.8 369.7 363.5 Single family................ 144.8 150.3 154.5 161.5 161.8 158.7 158.2 159.8 159.0 162.1 170.1 177.8 184.0 189.3 195.8 195.8 190.5 Multifamily.................. 18.9 19.3 20.2 21.9 19.3 19.9 21.6 22.2 21.2 22.6 23.1 21.6 21.2 21.1 23.3 22.9 22.3 Other........................ 119.3 120.1 121.4 127.1 128.5 127.6 128.7 130.2 132.3 132.9 135.1 139.7 140.7 143.7 145.7 151.1 150.9 Equipment...................... 7.4 7.5 7.5 7.7 7.7 7.8 7.8 7.8 7.9 8.0 8.2 8.4 8.4 8.5 8.9 9.1 9.2 Change in private inventories...... 9.0 18.0 5.6 30.3 51.2 32.9 51.5 93.1 59.2 72.7 107.3 43.1 76.1 70.7 50.1 14.0 28.1 Farm............................. -23.3 -5.2 -.3 11.7 16.7 3.3 -5.1 7.4 6.5 3.1 3.3 -10.4 -2.1 12.8 7.4 .9 -4.8 Nonfarm.......................... 31.9 23.4 6.1 18.6 34.1 29.8 56.7 85.7 52.6 69.7 103.8 53.2 77.5 58.2 43.1 13.1 32.3 Manufacturing.................. 12.6 7.2 17.2 -3.4 14.0 12.6 22.9 29.4 17.3 19.0 38.1 27.9 22.2 12.0 .0 -8.3 .9 Wholesale trade................ 13.8 7.1 3.6 5.1 -5.7 9.6 24.2 35.3 15.3 22.7 28.8 14.0 33.8 17.2 9.5 11.1 14.3 Retail trade................... 5.1 3.4 -14.6 15.7 23.1 5.5 -2.7 10.8 13.8 21.0 21.0 -3.1 11.0 15.5 17.5 5.9 17.2 Other.......................... .2 5.9 -.1 1.3 2.7 2.1 12.3 10.4 6.1 6.9 16.1 15.0 10.8 13.6 15.7 4.1 -.6 Net exports of goods and services.... -68.0 -56.9 -75.6 -90.6 -115.8 -73.9 -90.8 -100.9 -118.7 -128.7 -171.7 -218.4 -237.9 -232.3 -284.5 -319.0 -343.0 Exports............................ 821.2 840.8 845.6 859.8 867.1 924.2 943.9 979.9 1,006.8 1,011.2 1,007.3 997.2 993.0 1,030.8 1,016.4 1,026.4 1,056.9 Goods............................ 576.7 592.0 599.2 605.5 617.2 651.7 674.0 702.9 724.7 731.0 725.9 709.3 712.0 744.2 726.4 734.1 763.6 Foods, feeds, and beverages.... 57.2 54.4 56.5 54.2 53.7 57.7 55.0 54.0 54.0 59.5 57.3 54.1 51.4 57.8 52.9 56.1 58.6 Industrial supplies and materials..................... 136.6 138.7 138.8 137.6 140.8 147.0 147.8 153.3 155.4 156.3 154.3 150.5 149.0 152.3 147.1 150.1 153.3 Capital goods, except automotive.................... 225.2 236.2 241.9 247.0 251.3 272.9 289.3 307.7 324.6 322.7 321.7 313.9 325.1 337.2 329.6 328.4 352.9 Automotive vehicles, engines, and parts..................... 62.0 62.2 62.5 63.6 68.1 65.9 70.0 72.7 75.7 75.4 76.4 71.9 67.6 73.9 70.5 74.0 76.1 Consumer goods, except automotive.................... 65.7 66.2 68.5 69.0 70.0 72.7 75.1 77.1 77.1 77.9 77.5 78.5 79.8 78.8 79.3 78.9 78.9 Other.......................... 30.3 34.1 30.9 33.9 33.4 35.7 36.9 38.0 38.1 39.7 38.9 40.4 39.4 44.9 46.9 46.8 44.6 Services......................... 244.6 248.9 246.4 254.3 249.9 272.4 269.9 277.1 282.3 280.5 281.7 287.7 281.1 287.0 289.9 292.2 294.0 Imports............................ 889.1 897.8 921.1 950.4 982.9 998.1 1,034.7 1,080.8 1,125.5 1,139.9 1,179.0 1,215.6 1,231.0 1,263.1 1,300.9 1,345.4 1,399.9 Goods............................ 742.1 748.4 769.7 797.4 825.6 840.7 869.8 912.6 949.1 961.2 993.2 1,025.5 1,037.9 1,069.7 1,102.0 1,142.5 1,197.1 Foods, feeds, and beverages.... 32.1 32.6 34.3 35.0 36.6 37.0 37.3 38.7 40.8 40.6 41.4 41.9 42.6 42.8 43.7 46.0 47.0 Industrial supplies and materials, except petroleum and products.................. 116.6 116.1 120.0 123.0 127.9 129.9 130.2 134.7 138.0 139.4 145.1 151.2 153.3 151.1 151.1 154.5 159.2 Petroleum and products......... 71.4 67.9 66.2 75.3 76.3 73.2 71.8 77.6 78.8 76.1 77.3 84.4 84.9 79.2 80.6 85.3 82.8 Capital goods, except automotive.................... 198.6 210.5 215.2 220.5 230.9 245.6 260.8 280.4 297.3 305.5 317.1 326.3 330.3 339.6 347.5 370.5 394.3 Automotive vehicles, engines, and parts..................... 120.7 118.8 123.8 129.9 133.7 128.3 139.8 138.6 141.1 138.6 144.4 144.8 144.3 160.7 170.4 173.4 185.9 Consumer goods, except automotive.................... 162.0 157.6 164.5 167.3 175.1 181.4 183.9 193.5 200.0 207.7 213.6 222.7 225.5 227.3 235.7 240.8 251.9 Other.......................... 42.2 44.5 45.2 46.4 45.2 45.7 46.7 50.1 54.4 54.7 55.9 57.5 60.1 68.1 70.7 72.2 76.3 Services......................... 147.1 149.4 151.5 153.0 157.3 157.3 164.9 168.3 176.4 178.7 185.8 190.1 193.1 193.8 199.4 203.7 204.4 Government consumption expenditures and gross investment................ 1,410.4 1,393.2 1,404.4 1,430.2 1,422.1 1,431.0 1,437.0 1,457.1 1,463.3 1,463.0 1,459.2 1,480.7 1,485.3 1,495.9 1,514.6 1,519.5 1,532.0 Federal............................ 540.4 517.1 529.0 540.1 529.5 527.7 523.9 536.4 534.6 528.8 515.4 530.1 527.0 532.0 531.4 534.2 538.3 National defense................. 363.3 350.4 356.4 363.0 355.4 353.3 342.9 350.8 350.7 348.6 332.7 341.6 347.5 344.9 341.4 339.2 347.3 Consumption expenditures....... 311.8 298.5 300.5 305.2 300.6 303.2 296.9 303.4 300.3 297.1 285.0 293.4 293.6 293.6 289.5 284.9 293.5 Gross investment............... 51.6 51.9 55.8 57.8 54.9 50.0 45.8 47.3 50.3 51.5 47.7 48.1 54.0 51.4 52.1 54.6 54.0 Nondefense....................... 177.0 166.8 172.7 177.2 174.1 174.4 181.0 185.5 183.9 180.2 182.6 188.4 179.6 187.1 189.9 194.9 190.9 Consumption expenditures....... 148.4 139.1 141.9 144.1 142.0 143.6 148.6 150.6 150.2 148.9 147.6 149.8 142.9 149.1 150.8 152.1 149.5 Gross investment............... 28.7 27.7 30.8 33.1 32.0 30.8 32.4 35.0 33.7 31.3 35.1 38.8 36.9 38.1 39.4 43.2 41.9 State and local.................... 870.0 876.1 875.4 890.1 892.6 903.4 913.1 920.7 928.6 934.1 943.6 950.5 958.1 963.6 982.9 985.1 993.4 Consumption expenditures....... 711.7 716.1 715.2 726.8 729.3 734.9 740.4 747.2 753.0 758.7 766.2 772.8 777.8 783.7 790.4 797.3 805.0 Gross investment............... 158.3 159.9 160.2 163.3 163.4 168.5 172.7 173.5 175.6 175.4 177.4 177.6 180.3 179.9 192.7 187.8 188.5 Residual............................. 1.5 .6 .6 -.4 -.7 .6 .6 -.9 -1.8 -3.3 -9.5 -5.3 -14.2 -29.0 -32.2 -33.4 -50.5 Addenda: Final sales of domestic product.... 7,543.4 7,597.3 7,664.6 7,770.9 7,793.5 7,903.7 7,981.1 8,042.0 8,155.3 8,204.3 8,307.0 8,410.4 8,459.6 8,588.3 8,685.2 8,757.9 8,846.5 Gross domestic purchases........... 7,622.2 7,672.7 7,746.5 7,891.0 7,959.0 8,011.9 8,124.5 8,235.4 8,331.9 8,403.9 8,579.7 8,667.2 8,764.2 8,881.5 9,007.4 9,078.2 9,203.0 Final sales to domestic purchasers. 7,610.6 7,653.3 7,739.7 7,861.4 7,909.2 7,978.2 8,072.2 8,142.6 8,272.4 8,330.9 8,473.7 8,620.5 8,687.6 8,810.6 8,954.8 9,057.8 9,167.0 Gross domestic product............. 7,555.0 7,616.8 7,671.4 7,800.5 7,843.3 7,937.5 8,033.4 8,134.8 8,214.8 8,277.3 8,412.7 8,457.2 8,536.0 8,659.2 8,737.9 8,778.6 8,882.6 Plus: Income receipts from the rest of the world........ 235.3 241.3 240.5 238.4 245.3 258.1 265.6 280.9 285.9 280.1 285.5 286.9 270.3 274.0 276.0 286.6 ..... Less: Income payments to the rest of the world............. 223.6 217.5 213.3 220.6 233.9 242.2 261.0 271.7 284.5 280.3 283.4 287.7 295.8 291.3 290.7 301.1 ..... Equals: Gross national product..... 7,566.7 7,640.6 7,698.7 7,818.3 7,854.7 7,953.3 8,038.1 8,144.0 8,216.2 8,277.2 8,414.8 8,456.6 8,510.6 8,641.9 8,723.3 8,764.3 ..... ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Note.--Users are cautioned that particularly for components for which relative prices are changing rapidly, the use of chained-dollar estimates to calculate component shares or component contributions to real growth may be misleading even just a few years from the base year. For accurate estimates of the contributions to percent changes in real GDP, use table 2. See "Explanatory Note" at the end of the tables. Table 4.--Chain-Type Price Indexes for Gross Domestic Product and Related Measures: Percent Change From Preceding Period [Percent; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------ 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 I 94 II 94 III 94 IV 94 I 95 II 95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Gross domestic product (GDP). 2.9 3.4 3.9 3.9 3.4 2.2 2.7 2.1 2.1 1.8 1.7 1.2 1.9 1.8 2.4 1.8 2.9 1.6 Personal consumption expenditures... 3.7 3.9 4.4 4.6 3.5 2.7 2.7 2.0 2.2 2.0 1.7 .9 .9 2.1 3.4 1.7 2.5 2.3 Durable goods..................... 2.8 1.4 1.8 .9 1.4 .9 .8 1.5 .5 -1.0 -2.2 -2.4 .9 1.9 2.6 .0 1.4 -.5 Nondurable goods.................. 3.4 3.4 4.8 5.5 3.1 1.5 1.0 .7 1.1 2.1 1.3 .0 -.7 1.0 3.4 .6 .3 1.5 Services.......................... 4.0 4.8 4.9 5.0 4.2 3.7 4.1 2.9 3.2 2.6 2.6 2.1 1.8 2.7 3.6 2.7 3.9 3.2 Gross private domestic investment... 1.9 2.4 2.5 2.0 1.5 -.1 1.4 1.4 1.2 -.3 -.2 -.9 2.3 1.4 1.5 1.2 1.8 1.4 Fixed investment.................. 1.9 2.7 2.5 2.1 1.5 -.1 1.5 1.5 1.2 -.1 -.1 -.8 2.2 1.6 1.7 1.0 1.7 1.5 Nonresidential.................. .9 2.3 2.2 2.0 1.6 -.5 .5 .7 .4 -.9 -1.0 -1.8 1.2 1.3 .7 -.5 .6 1.3 Structures.................... 1.6 4.3 3.9 3.2 1.8 .0 3.4 3.6 4.2 2.7 4.1 3.1 3.2 2.9 4.6 5.7 5.0 3.0 Equipment and software........ .6 1.4 1.5 1.5 1.5 -.7 -.5 -.2 -.8 -2.1 -2.6 -3.4 .6 .7 -.6 -2.5 -.8 .8 Residential..................... 4.1 3.5 3.2 2.3 1.3 1.2 4.0 3.6 3.6 2.1 2.7 2.6 4.8 2.4 4.4 5.4 5.0 1.9 Change in private inventories..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports........................... 2.5 5.3 1.9 .7 1.1 -.6 .3 1.2 2.3 -1.4 -1.8 -2.3 1.5 1.6 2.4 2.7 4.3 3.2 Goods........................... 2.6 6.4 1.3 -.9 -.1 -1.5 -.5 1.1 2.4 -2.6 -2.7 -3.1 2.4 1.5 1.9 3.2 5.3 2.8 Services........................ 2.2 2.4 3.6 5.0 4.1 1.7 2.3 1.4 2.2 1.7 .6 -.3 -.7 2.0 3.7 1.5 2.0 4.3 Imports........................... 5.9 4.9 2.5 2.6 -.5 .2 -.9 1.0 2.7 -1.8 -3.6 -5.3 -2.1 5.3 6.7 2.0 1.8 7.2 Goods........................... 7.1 4.8 2.8 1.8 -1.4 -.4 -1.2 .8 2.7 -2.5 -4.1 -5.9 -2.7 6.3 6.2 1.7 3.2 6.1 Services........................ .6 5.7 1.3 6.5 3.2 2.7 .2 1.8 3.0 1.7 -.5 -2.2 .9 1.0 9.2 3.3 -5.1 13.2 Government consumption expenditures and gross investment............... 2.8 2.7 3.3 4.0 3.3 2.3 2.7 2.6 2.8 2.5 1.8 1.5 2.9 3.3 1.9 2.5 4.1 2.3 Federal........................... 1.2 2.3 2.9 3.3 4.0 3.0 2.7 2.5 2.9 2.9 1.3 1.1 2.4 4.3 -.3 2.9 4.0 1.4 National defense................ 1.0 2.1 2.8 3.2 3.7 3.5 1.9 2.2 2.5 3.2 1.2 .8 2.1 3.9 .4 2.8 3.1 1.8 Nondefense...................... 2.0 3.0 3.2 3.4 4.9 1.8 4.5 3.2 3.5 2.1 1.4 1.6 3.0 5.3 -2.0 3.0 6.1 .7 State and local................... 4.2 3.0 3.6 4.6 2.7 1.7 2.7 2.7 2.8 2.2 2.1 1.8 3.2 2.6 3.4 2.2 4.2 2.8 Addenda: Final sales of domestic product... 2.9 3.4 3.9 3.9 3.4 2.2 2.7 2.1 2.1 1.9 1.7 1.2 1.9 1.8 2.4 1.8 2.9 1.7 Gross domestic purchases.......... 3.2 3.4 3.9 4.1 3.2 2.2 2.5 2.1 2.2 1.7 1.4 .7 1.5 2.2 2.8 1.8 2.7 2.1 Final sales to domestic purchasers....................... 3.2 3.4 3.9 4.1 3.2 2.2 2.5 2.1 2.2 1.8 1.4 .8 1.5 2.2 2.9 1.8 2.7 2.2 Gross national product (GNP)...... 2.9 3.4 3.9 3.9 3.4 2.2 2.7 2.1 2.1 1.8 1.7 1.2 1.9 1.8 2.3 1.8 3.0 1.6 Implicit price deflators: GDP............................. 2.9 3.4 3.9 3.9 3.4 2.2 2.7 2.1 2.1 1.8 1.7 1.2 1.9 1.8 2.4 1.9 2.9 1.7 Gross domestic purchases........ 3.2 3.4 3.9 4.1 3.2 2.2 2.5 2.1 2.2 1.8 1.4 .7 1.5 2.2 2.8 1.8 2.7 2.1 GNP............................. 2.9 3.4 3.9 3.9 3.4 2.2 2.7 2.1 2.1 1.8 1.7 1.2 1.9 1.8 2.3 1.9 2.9 1.7 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ See "Explanatory Note" at the end of the tables. Table 4.--Chain-Type Price Indexes for Gross Domestic Product and Related Measures: Percent Change From Preceding Period--Continued [Percent; quarters seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------- III 95 IV 95 I 96 II 96 III 96 IV 96 I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 III 99 ----------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP). 1.8 1.9 2.5 1.3 1.8 1.4 2.4 1.5 1.2 1.3 1.0 1.1 1.4 .9 2.0 1.3 1.0 Personal consumption expenditures... 1.8 1.6 2.4 2.4 1.4 2.5 2.1 .8 1.1 1.2 .5 1.1 1.2 1.2 1.4 2.2 1.9 Durable goods..................... -1.1 -.9 .2 -2.5 -1.4 -1.8 -1.1 -3.7 -3.3 -2.5 -1.5 -2.0 -2.3 -3.9 -2.8 -1.9 -2.0 Nondurable goods.................. 1.1 .9 3.2 3.6 .2 3.6 1.7 -.6 .6 .9 -1.4 -.2 1.2 1.3 1.6 5.1 2.9 Services.......................... 2.7 2.5 2.4 2.8 2.6 2.8 3.0 2.5 2.2 2.0 1.8 2.5 1.8 2.2 2.2 1.7 2.2 Gross private domestic investment... .1 -.4 -1.1 -.8 1.1 -.3 -.3 -.6 .4 -.6 -2.2 -1.0 -.2 -.2 .1 -.4 -.9 Fixed investment.................. .3 -.1 -.8 -.8 1.0 -.1 -.2 -.3 .5 -.7 -1.9 -.9 .1 -.2 .3 -.1 -.5 Nonresidential.................. -.2 -.9 -1.6 -1.7 -.2 -.8 -1.0 -1.1 -.7 -1.7 -2.6 -2.2 -1.4 -1.8 -.9 -1.4 -1.8 Structures.................... 3.0 2.4 2.0 2.2 4.2 3.4 4.3 4.6 5.3 3.9 1.0 2.8 3.6 3.5 1.3 2.2 2.9 Equipment and software........ -1.2 -2.0 -2.8 -3.0 -1.7 -2.2 -2.8 -3.0 -2.7 -3.6 -3.8 -3.8 -2.9 -3.5 -1.6 -2.5 -3.1 Residential..................... 1.6 2.2 1.5 1.8 4.4 2.0 2.3 2.1 4.2 2.4 .3 3.0 4.4 4.5 4.0 3.6 3.2 Change in private inventories..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports........................... -1.0 -1.9 -.7 -1.4 -3.0 -4.0 -1.2 .1 -1.3 -1.7 -4.2 -1.8 -2.9 -1.3 -.5 .7 1.0 Goods........................... -1.5 -2.8 -2.6 -1.9 -4.9 -6.5 -.8 -1.1 -1.3 -2.7 -4.6 -3.0 -4.2 -2.3 -1.4 -.6 .5 Services........................ .3 .4 4.1 -.2 1.9 2.2 -2.1 3.1 -1.4 .8 -3.1 1.0 .3 1.1 1.5 3.8 2.3 Imports........................... -2.6 -3.4 -1.6 -1.8 -4.4 .6 -4.6 -7.3 -2.4 -2.5 -10.7 -4.0 -4.6 -.3 -3.0 5.2 5.9 Goods........................... -3.5 -3.6 -2.3 -2.4 -5.5 .2 -4.9 -8.7 -2.1 -2.6 -11.1 -5.6 -5.4 -1.2 -2.9 4.9 5.5 Services........................ 2.3 -2.2 1.9 1.4 1.5 2.5 -2.8 .6 -4.2 -2.0 -8.9 4.4 -.6 4.4 -3.3 6.7 7.8 Government consumption expenditures and gross investment............... 1.9 3.9 5.0 -1.5 2.4 1.8 3.1 .7 1.4 2.6 .9 1.4 2.0 1.3 3.8 2.9 3.0 Federal........................... 2.5 8.1 5.1 -3.3 1.9 1.6 3.5 .2 -.2 1.5 2.0 .9 .4 1.4 8.6 .9 1.3 National defense................ 2.8 4.2 7.8 -1.6 2.2 1.7 2.9 -.1 -.4 1.5 1.6 -.1 .9 1.0 7.6 1.0 1.3 Nondefense...................... 2.0 16.8 -.4 -6.5 1.4 1.5 4.7 .7 .1 1.6 2.7 2.6 -.4 2.1 10.4 .7 1.3 State and local................... 1.5 1.4 4.9 -.4 2.7 2.0 2.8 .9 2.4 3.2 .3 1.7 2.8 1.3 1.4 4.0 4.0 Addenda: Final sales of domestic product... 1.8 2.0 2.5 1.3 1.7 1.4 2.4 1.6 1.2 1.3 1.1 1.2 1.4 .9 2.0 1.4 1.1 Gross domestic purchases.......... 1.5 1.7 2.3 1.2 1.5 1.9 1.9 .6 1.0 1.1 .1 .8 1.1 1.0 1.6 1.9 1.6 Final sales to domestic purchasers....................... 1.6 1.7 2.4 1.2 1.5 2.0 1.9 .6 1.0 1.1 .2 .8 1.1 1.0 1.7 2.0 1.7 Gross national product (GNP)...... 1.8 1.9 2.5 1.3 1.8 1.4 2.4 1.5 1.2 1.2 1.1 1.1 1.4 .9 2.0 1.3 ..... Implicit price deflators: GDP............................. 1.8 1.9 2.5 1.3 1.7 1.4 2.4 1.5 1.1 1.2 .9 1.3 1.5 1.0 2.0 1.4 .9 Gross domestic purchases........ 1.5 1.7 2.3 1.2 1.5 1.9 1.9 .5 1.0 1.0 -.1 .9 1.2 1.1 1.6 1.9 1.6 GNP............................. 1.8 1.9 2.5 1.3 1.7 1.4 2.4 1.5 1.2 1.2 .9 1.3 1.5 1.0 2.0 1.4 ..... ----------------------------------------------------------------------------------------------------------------------------------------------------------- See "Explanatory Note" at the end of the tables. Table 4A.--Chain-Type Price Indexes for Gross Domestic Product and Related Measures: Percent Change From Preceding Period [Percent; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------ 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 I 94 II 94 III 94 IV 94 I 95 II 95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Gross domestic product (GDP). 2.9 3.4 3.9 3.9 3.4 2.2 2.7 2.1 2.1 1.8 1.7 1.2 1.9 1.8 2.4 1.8 2.9 1.6 Previously published....... 3.1 3.7 4.2 4.4 3.9 2.8 2.6 2.4 2.3 1.9 1.9 1.0 2.5 2.2 2.5 2.6 2.5 2.0 Personal consumption expenditures... 3.7 3.9 4.4 4.6 3.5 2.7 2.7 2.0 2.2 2.0 1.7 .9 .9 2.1 3.4 1.7 2.5 2.3 Previously published.............. 3.8 4.2 4.9 5.1 4.2 3.3 2.7 2.4 2.3 2.0 1.9 .8 1.7 2.7 3.6 2.7 1.7 2.4 Durable goods..................... 2.8 1.4 1.8 .9 1.4 .9 .8 1.5 .5 -1.0 -2.2 -2.4 .9 1.9 2.6 .0 1.4 -.5 Previously published............ 3.0 1.8 2.2 1.4 2.0 1.5 1.2 2.0 .4 -.9 -2.0 -2.3 1.0 2.9 3.3 .4 .4 -.4 Nondurable goods.................. 3.4 3.4 4.8 5.5 3.1 1.5 1.0 .7 1.1 2.1 1.3 .0 -.7 1.0 3.4 .6 .3 1.5 Previously published............ 3.9 3.7 5.2 6.0 3.6 2.0 1.5 1.3 1.2 2.0 1.5 .0 -.1 1.3 4.3 1.3 -.6 1.6 Services.......................... 4.0 4.8 4.9 5.0 4.2 3.7 4.1 2.9 3.2 2.6 2.6 2.1 1.8 2.7 3.6 2.7 3.9 3.2 Previously published............ 3.9 5.0 5.4 5.4 5.0 4.4 3.6 3.1 3.3 2.7 2.9 1.9 2.8 3.3 3.3 3.9 3.2 3.4 Gross private domestic investment... 1.9 2.4 2.5 2.0 1.5 -.1 1.4 1.4 1.2 -.3 -.2 -.9 2.3 1.4 1.5 1.2 1.8 1.4 Previously published.............. 2.2 2.8 2.8 2.4 1.4 .3 1.5 1.8 1.4 -.3 -.3 -1.3 2.8 2.1 2.1 1.3 1.7 1.9 Fixed investment.................. 1.9 2.7 2.5 2.1 1.5 -.1 1.5 1.5 1.2 -.1 -.1 -.8 2.2 1.6 1.7 1.0 1.7 1.5 Previously published............ 2.1 3.1 2.8 2.5 1.4 .4 1.5 1.8 1.4 -.1 -.2 -1.2 2.9 2.1 2.1 1.3 1.6 1.9 Nonresidential.................. .9 2.3 2.2 2.0 1.6 -.5 .5 .7 .4 -.9 -1.0 -1.8 1.2 1.3 .7 -.5 .6 1.3 Previously published.......... 1.2 2.6 2.6 2.4 1.5 .1 .7 1.2 .5 -.9 -1.3 -2.4 2.3 2.1 1.2 -.3 .2 2.0 Structures.................... 1.6 4.3 3.9 3.2 1.8 .0 3.4 3.6 4.2 2.7 4.1 3.1 3.2 2.9 4.6 5.7 5.0 3.0 Previously published........ 1.6 4.8 3.8 3.3 1.3 -.1 3.3 3.6 4.1 2.6 3.4 2.8 4.1 2.7 4.6 6.2 4.7 2.9 Equipment and software........ .6 1.4 1.5 1.5 1.5 -.7 -.5 -.2 -.8 -2.1 -2.6 -3.4 .6 .7 -.6 -2.5 -.8 .8 Previously published........ 1.1 1.5 2.0 1.8 1.6 .2 -.4 .3 -.9 -2.2 -3.0 -4.3 1.5 1.9 .0 -2.7 -1.5 1.6 Residential..................... 4.1 3.5 3.2 2.3 1.3 1.2 4.0 3.6 3.6 2.1 2.7 2.6 4.8 2.4 4.4 5.4 5.0 1.9 Previously published.......... 4.1 4.2 3.3 2.9 1.1 1.2 3.7 3.3 3.5 1.9 2.6 2.1 4.5 2.2 4.2 5.2 5.1 1.8 Change in private inventories..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports........................... 2.5 5.3 1.9 .7 1.1 -.6 .3 1.2 2.3 -1.4 -1.8 -2.3 1.5 1.6 2.4 2.7 4.3 3.2 Previously published............ 2.8 5.5 2.0 .8 1.6 -.3 .1 1.2 2.1 -1.7 -2.0 -2.2 1.6 2.2 1.6 2.9 4.0 3.4 Goods........................... 2.6 6.4 1.3 -.9 -.1 -1.5 -.5 1.1 2.4 -2.6 -2.7 -3.1 2.4 1.5 1.9 3.2 5.3 2.8 Previously published.......... 2.7 6.5 1.4 -1.0 -.1 -1.7 -.9 .8 1.8 -3.5 -3.5 -3.3 2.4 1.6 1.0 2.7 5.0 2.6 Services........................ 2.2 2.4 3.6 5.0 4.1 1.7 2.3 1.4 2.2 1.7 .6 -.3 -.7 2.0 3.7 1.5 2.0 4.3 Previously published.......... 3.0 3.2 3.7 5.8 5.8 3.1 2.3 2.0 2.9 2.7 1.8 .6 -.1 3.6 3.4 3.1 1.6 5.4 Imports........................... 5.9 4.9 2.5 2.6 -.5 .2 -.9 1.0 2.7 -1.8 -3.6 -5.3 -2.1 5.3 6.7 2.0 1.8 7.2 Previously published............ 5.9 4.8 2.6 2.6 -.3 .0 -1.2 .6 2.2 -2.2 -3.7 -5.3 -2.2 5.1 6.1 1.5 1.4 6.9 Goods........................... 7.1 4.8 2.8 1.8 -1.4 -.4 -1.2 .8 2.7 -2.5 -4.1 -5.9 -2.7 6.3 6.2 1.7 3.2 6.1 Previously published.......... 7.1 4.8 2.8 1.8 -1.4 -.7 -1.5 .5 2.1 -2.9 -4.2 -6.0 -2.9 6.2 5.6 1.3 2.8 5.7 Services........................ .6 5.7 1.3 6.5 3.2 2.7 .2 1.8 3.0 1.7 -.5 -2.2 .9 1.0 9.2 3.3 -5.1 13.2 Previously published.......... .3 4.8 1.4 6.5 4.1 3.1 .0 1.6 2.7 1.6 -.6 -1.4 1.0 .1 8.2 2.8 -5.1 13.2 Government consumption expenditures and gross investment............... 2.8 2.7 3.3 4.0 3.3 2.3 2.7 2.6 2.8 2.5 1.8 1.5 2.9 3.3 1.9 2.5 4.1 2.3 Previously published.............. 3.0 2.6 3.2 4.3 3.6 2.6 2.5 2.3 3.1 2.5 2.2 1.3 2.7 2.6 1.8 2.6 4.8 2.9 Federal........................... 1.2 2.3 2.9 3.3 4.0 3.0 2.7 2.5 2.9 2.9 1.3 1.1 2.4 4.3 -.3 2.9 4.0 1.4 Previously published............ 1.6 2.3 3.0 3.5 4.3 3.2 2.5 2.3 3.2 2.9 2.0 1.1 2.2 3.6 -.5 2.7 5.8 1.4 National defense................ 1.0 2.1 2.8 3.2 3.7 3.5 1.9 2.2 2.5 3.2 1.2 .8 2.1 3.9 .4 2.8 3.1 1.8 Previously published.......... 1.3 2.0 2.9 3.5 3.8 3.7 1.8 1.8 2.7 3.3 1.8 1.1 1.6 2.9 .1 2.5 4.3 2.1 Nondefense...................... 2.0 3.0 3.2 3.4 4.9 1.8 4.5 3.2 3.5 2.1 1.4 1.6 3.0 5.3 -2.0 3.0 6.1 .7 Previously published.......... 2.3 3.2 3.4 3.5 5.5 2.1 4.3 3.3 4.1 2.2 2.4 1.0 3.4 5.2 -1.9 3.2 9.0 -.2 State and local................... 4.2 3.0 3.6 4.6 2.7 1.7 2.7 2.7 2.8 2.2 2.1 1.8 3.2 2.6 3.4 2.2 4.2 2.8 Previously published............ 4.2 2.9 3.4 4.9 3.1 2.2 2.5 2.3 3.1 2.2 2.2 1.4 3.0 1.9 3.2 2.6 4.2 3.8 Addenda: Final sales of domestic product... 2.9 3.4 3.9 3.9 3.4 2.2 2.7 2.1 2.1 1.9 1.7 1.2 1.9 1.8 2.4 1.8 2.9 1.7 Previously published............ 3.1 3.7 4.2 4.4 3.9 2.8 2.7 2.4 2.3 1.9 1.9 1.1 2.5 2.3 2.5 2.6 2.5 2.0 Gross domestic purchases.......... 3.2 3.4 3.9 4.1 3.2 2.2 2.5 2.1 2.2 1.7 1.4 .7 1.5 2.2 2.8 1.8 2.7 2.1 Previously published............ 3.4 3.6 4.2 4.5 3.7 2.8 2.5 2.3 2.3 1.8 1.6 .6 2.0 2.6 3.0 2.5 2.2 2.4 Final sales to domestic purchasers....................... 3.2 3.4 3.9 4.1 3.2 2.2 2.5 2.1 2.2 1.8 1.4 .8 1.5 2.2 2.9 1.8 2.7 2.2 Previously published............ 3.4 3.7 4.2 4.5 3.7 2.8 2.5 2.3 2.3 1.8 1.6 .6 2.0 2.6 3.0 2.5 2.2 2.4 Gross national product (GNP)...... 2.9 3.4 3.9 3.9 3.4 2.2 2.7 2.1 2.1 1.8 1.7 1.2 1.9 1.8 2.3 1.8 3.0 1.6 Previously published............ 3.1 3.7 4.2 4.4 3.9 2.7 2.6 2.4 2.3 1.9 1.8 1.0 2.5 2.2 2.5 2.6 2.6 2.0 Implicit price deflators: GDP............................. 2.9 3.4 3.9 3.9 3.4 2.2 2.7 2.1 2.1 1.8 1.7 1.2 1.9 1.8 2.4 1.9 2.9 1.7 Previously published.......... 3.1 3.7 4.2 4.3 4.0 2.8 2.6 2.4 2.3 1.9 1.9 1.0 2.4 2.2 2.6 2.7 2.5 1.8 Gross domestic purchases........ 3.2 3.4 3.9 4.1 3.2 2.2 2.5 2.1 2.2 1.8 1.4 .7 1.5 2.2 2.8 1.8 2.7 2.1 Previously published.......... 3.4 3.6 4.2 4.5 3.7 2.8 2.5 2.3 2.3 1.8 1.6 .6 2.0 2.5 3.1 2.5 2.3 2.3 GNP............................. 2.9 3.4 3.9 3.9 3.4 2.2 2.7 2.1 2.1 1.8 1.7 1.2 1.9 1.8 2.3 1.9 2.9 1.7 Previously published.......... 3.1 3.7 4.2 4.3 4.0 2.7 2.6 2.4 2.3 1.9 1.8 1.0 2.5 2.2 2.6 2.6 2.6 1.8 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ See "Explanatory Note" at the end of the tables. Table 4A.--Chain-Type Price Indexes for Gross Domestic Product and Related Measures: Percent Change From Preceding Period--Continued [Percent; quarters seasonally adjusted at annual rates] ---------------------------------------------------------------------------------------------------------------------------------------------------- III 95 IV 95 I 96 II 96 III 96 IV 96 I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 ---------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP). 1.8 1.9 2.5 1.3 1.8 1.4 2.4 1.5 1.2 1.3 1.0 1.1 1.4 .9 2.0 1.3 Previously published....... 1.9 2.0 2.2 1.4 1.8 1.6 2.8 1.7 1.2 1.1 .9 .9 1.0 .8 1.6 1.3 Personal consumption expenditures... 1.8 1.6 2.4 2.4 1.4 2.5 2.1 .8 1.1 1.2 .5 1.1 1.2 1.2 1.4 2.2 Previously published.............. 1.8 1.6 2.2 2.5 1.5 2.5 2.5 1.1 1.3 1.1 .0 .9 1.0 1.1 1.2 2.2 Durable goods..................... -1.1 -.9 .2 -2.5 -1.4 -1.8 -1.1 -3.7 -3.3 -2.5 -1.5 -2.0 -2.3 -3.9 -2.8 -1.9 Previously published............ -1.3 -1.1 .6 -2.1 -1.5 -1.8 -.9 -3.4 -2.8 -2.4 -1.4 -2.2 -3.0 -2.5 -3.3 -2.1 Nondurable goods.................. 1.1 .9 3.2 3.6 .2 3.6 1.7 -.6 .6 .9 -1.4 -.2 1.2 1.3 1.6 5.1 Previously published............ .8 .9 3.0 3.6 .3 3.6 2.0 -.2 .8 .9 -2.2 .2 1.5 .9 1.4 5.3 Services.......................... 2.7 2.5 2.4 2.8 2.6 2.8 3.0 2.5 2.2 2.0 1.8 2.5 1.8 2.2 2.2 1.7 Previously published............ 2.9 2.5 2.1 3.0 2.7 2.9 3.5 2.8 2.5 1.9 1.4 1.9 1.7 1.9 2.2 1.7 Gross private domestic investment... .1 -.4 -1.1 -.8 1.1 -.3 -.3 -.6 .4 -.6 -2.2 -1.0 -.2 -.2 .1 -.4 Previously published.............. -.1 -.2 -1.0 -.8 .7 -.5 -.7 -.5 .2 -.5 -2.3 -1.8 -1.9 -.6 -.8 -.4 Fixed investment.................. .3 -.1 -.8 -.8 1.0 -.1 -.2 -.3 .5 -.7 -1.9 -.9 .1 -.2 .3 -.1 Previously published............ -.1 .0 -.8 -.6 .8 -.2 -.6 -.5 .4 -.5 -2.1 -1.8 -1.6 -.6 -.8 -.1 Nonresidential.................. -.2 -.9 -1.6 -1.7 -.2 -.8 -1.0 -1.1 -.7 -1.7 -2.6 -2.2 -1.4 -1.8 -.9 -1.4 Previously published.......... -.7 -.8 -1.5 -1.5 -.5 -1.1 -1.7 -1.5 -1.0 -1.6 -3.0 -3.1 -3.6 -2.5 -2.0 -1.4 Structures.................... 3.0 2.4 2.0 2.2 4.2 3.4 4.3 4.6 5.3 3.9 1.0 2.8 3.6 3.5 1.3 2.2 Previously published........ 2.8 2.4 2.1 2.2 4.1 3.1 3.3 3.3 4.3 3.3 2.7 3.1 1.2 1.8 .9 2.8 Equipment and software........ -1.2 -2.0 -2.8 -3.0 -1.7 -2.2 -2.8 -3.0 -2.7 -3.6 -3.8 -3.8 -2.9 -3.5 -1.6 -2.5 Previously published........ -2.0 -2.0 -2.9 -2.9 -2.2 -2.6 -3.6 -3.2 -2.9 -3.3 -5.0 -5.2 -5.3 -4.0 -3.0 -2.9 Residential..................... 1.6 2.2 1.5 1.8 4.4 2.0 2.3 2.1 4.2 2.4 .3 3.0 4.4 4.5 4.0 3.6 Previously published.......... 1.5 2.0 1.1 1.6 4.3 1.9 2.3 1.9 4.0 2.4 .0 1.7 3.7 4.2 2.2 3.3 Change in private inventories..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports........................... -1.0 -1.9 -.7 -1.4 -3.0 -4.0 -1.2 .1 -1.3 -1.7 -4.2 -1.8 -2.9 -1.3 -.5 .7 Previously published............ -1.8 -2.3 -1.2 -1.7 -3.2 -4.2 -1.0 -1.0 -1.6 -1.6 -3.4 -1.8 -2.8 -.9 -.6 -.2 Goods........................... -1.5 -2.8 -2.6 -1.9 -4.9 -6.5 -.8 -1.1 -1.3 -2.7 -4.6 -3.0 -4.2 -2.3 -1.4 -.6 Previously published.......... -3.1 -3.9 -3.4 -2.6 -5.6 -7.2 -1.7 -2.5 -1.8 -2.7 -4.7 -3.0 -3.8 -2.4 -1.9 -1.5 Services........................ .3 .4 4.1 -.2 1.9 2.2 -2.1 3.1 -1.4 .8 -3.1 1.0 .3 1.1 1.5 3.8 Previously published.......... 1.5 1.8 4.6 .6 3.1 3.5 .9 2.7 -1.0 1.5 .0 1.1 -.4 2.6 2.6 3.0 Imports........................... -2.6 -3.4 -1.6 -1.8 -4.4 .6 -4.6 -7.3 -2.4 -2.5 -10.7 -4.0 -4.6 -.3 -3.0 5.2 Previously published............ -3.9 -3.9 -1.8 -1.5 -5.2 -.3 -4.4 -7.1 -2.1 -2.3 -10.4 -4.5 -4.8 -.2 -3.3 4.5 Goods........................... -3.5 -3.6 -2.3 -2.4 -5.5 .2 -4.9 -8.7 -2.1 -2.6 -11.1 -5.6 -5.4 -1.2 -2.9 4.9 Previously published.......... -4.9 -4.2 -2.4 -2.1 -6.4 -.8 -4.6 -8.5 -1.9 -2.2 -11.3 -5.9 -5.8 -1.4 -3.4 3.7 Services........................ 2.3 -2.2 1.9 1.4 1.5 2.5 -2.8 .6 -4.2 -2.0 -8.9 4.4 -.6 4.4 -3.3 6.7 Previously published.......... 2.0 -2.5 1.5 1.4 1.9 2.0 -3.0 .3 -3.2 -2.6 -5.8 2.7 .4 6.7 -3.1 9.1 Government consumption expenditures and gross investment............... 1.9 3.9 5.0 -1.5 2.4 1.8 3.1 .7 1.4 2.6 .9 1.4 2.0 1.3 3.8 2.9 Previously published.............. 2.2 3.9 4.3 -1.2 2.4 2.7 3.8 1.2 .8 2.2 1.1 .8 1.5 1.5 3.1 3.0 Federal........................... 2.5 8.1 5.1 -3.3 1.9 1.6 3.5 .2 -.2 1.5 2.0 .9 .4 1.4 8.6 .9 Previously published............ 2.5 8.2 4.2 -2.1 1.8 2.7 4.8 .9 -.2 1.4 2.7 .0 .4 1.5 6.6 .8 National defense................ 2.8 4.2 7.8 -1.6 2.2 1.7 2.9 -.1 -.4 1.5 1.6 -.1 .9 1.0 7.6 1.0 Previously published.......... 2.7 4.3 6.7 -.3 1.9 2.7 4.0 .5 -.4 1.2 2.9 .3 .4 1.8 6.0 1.0 Nondefense...................... 2.0 16.8 -.4 -6.5 1.4 1.5 4.7 .7 .1 1.6 2.7 2.6 -.4 2.1 10.4 .7 Previously published.......... 2.1 16.5 -.7 -5.9 1.6 2.6 6.4 1.7 .4 1.8 2.2 -.6 .5 1.1 7.6 .4 State and local................... 1.5 1.4 4.9 -.4 2.7 2.0 2.8 .9 2.4 3.2 .3 1.7 2.8 1.3 1.4 4.0 Previously published............ 1.9 1.4 4.3 -.6 2.7 2.8 3.3 1.4 1.4 2.7 .2 1.2 2.1 1.5 1.3 4.2 Addenda: Final sales of domestic product... 1.8 2.0 2.5 1.3 1.7 1.4 2.4 1.6 1.2 1.3 1.1 1.2 1.4 .9 2.0 1.4 Previously published............ 1.9 2.0 2.3 1.4 1.9 1.7 2.8 1.8 1.2 1.2 .9 .9 1.0 .8 1.6 1.4 Gross domestic purchases.......... 1.5 1.7 2.3 1.2 1.5 1.9 1.9 .6 1.0 1.1 .1 .8 1.1 1.0 1.6 1.9 Previously published............ 1.6 1.8 2.1 1.4 1.5 2.1 2.2 .9 1.1 1.0 -.2 .4 .7 .9 1.2 1.9 Final sales to domestic purchasers....................... 1.6 1.7 2.4 1.2 1.5 2.0 1.9 .6 1.0 1.1 .2 .8 1.1 1.0 1.7 2.0 Previously published............ 1.6 1.8 2.2 1.4 1.5 2.1 2.3 .9 1.1 1.0 -.1 .5 .7 .9 1.2 2.0 Gross national product (GNP)...... 1.8 1.9 2.5 1.3 1.8 1.4 2.4 1.5 1.2 1.2 1.1 1.1 1.4 .9 2.0 1.3 Previously published............ 1.9 2.0 2.2 1.4 1.8 1.6 2.7 1.7 1.2 1.1 .9 .8 1.0 .8 1.6 1.3 Implicit price deflators: GDP............................. 1.8 1.9 2.5 1.3 1.7 1.4 2.4 1.5 1.1 1.2 .9 1.3 1.5 1.0 2.0 1.4 Previously published.......... 1.9 2.0 2.3 1.2 1.8 1.8 2.8 1.6 1.2 1.2 .8 .9 1.0 .8 1.6 1.3 Gross domestic purchases........ 1.5 1.7 2.3 1.2 1.5 1.9 1.9 .5 1.0 1.0 -.1 .9 1.2 1.1 1.6 1.9 Previously published.......... 1.6 1.8 2.1 1.2 1.6 2.2 2.2 .8 1.1 1.1 -.2 .5 .7 .9 1.2 1.9 GNP............................. 1.8 1.9 2.5 1.3 1.7 1.4 2.4 1.5 1.2 1.2 .9 1.3 1.5 1.0 2.0 1.4 Previously published.......... 1.9 2.0 2.3 1.2 1.8 1.8 2.8 1.5 1.2 1.2 .8 .9 1.0 .8 1.6 1.3 ---------------------------------------------------------------------------------------------------------------------------------------------------- See "Explanatory Note" at the end of the tables. Table 5.--Quantity and Price Indexes for Gross Domestic Product [Index numbers, 1996=100; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 I 94 II 94 III 94 IV 94 I 95 II 95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product: Chain-type quantity index........ 77.98 81.26 84.07 85.54 85.36 88.20 90.29 93.92 96.47 100.00 104.50 109.00 92.39 93.69 94.21 95.38 95.74 95.94 Chain-type price index........... 77.84 80.46 83.56 86.84 89.76 91.70 94.17 96.14 98.19 100.00 101.66 102.86 95.42 95.85 96.41 96.85 97.56 97.96 Implicit price deflator.......... 77.84 80.46 83.56 86.83 89.76 91.70 94.16 96.14 98.19 100.00 101.66 102.86 95.42 95.85 96.41 96.85 97.55 97.95 Personal consumption expenditures: Chain-type quantity index................ 78.21 81.40 83.52 85.04 85.17 87.90 90.54 93.94 96.80 100.00 103.75 108.80 92.75 93.54 94.26 95.21 95.56 96.49 Chain-type price index................... 75.81 78.73 82.22 86.02 89.03 91.44 93.94 95.86 98.01 100.00 101.67 102.63 94.99 95.48 96.29 96.70 97.29 97.83 Durable goods: Chain-type quantity index.............. 73.84 78.11 79.75 79.01 73.79 77.70 84.08 90.46 94.66 100.00 106.63 118.66 88.72 89.49 90.47 93.16 92.53 93.66 Chain-type price index................. 92.21 93.49 95.14 96.00 97.39 98.28 99.06 100.56 101.06 100.00 97.79 95.45 99.88 100.36 101.00 101.00 101.36 101.22 Nondurable goods: Chain-type quantity index.............. 80.97 83.55 85.83 87.01 86.65 88.29 90.87 94.35 97.14 100.00 102.92 107.07 93.09 93.87 94.72 95.71 96.20 96.90 Chain-type price index................. 79.66 82.34 86.26 90.98 93.76 95.20 96.15 96.83 97.93 100.00 101.35 101.40 96.21 96.45 97.26 97.40 97.46 97.83 Services: Chain-type quantity index.............. 77.50 80.76 82.91 85.17 86.82 89.91 91.74 94.45 97.07 100.00 103.60 107.80 93.42 94.22 94.81 95.36 95.85 96.86 Chain-type price index................. 70.73 74.11 77.73 81.61 85.03 88.19 91.80 94.43 97.44 100.00 102.63 104.78 93.38 94.01 94.85 95.48 96.39 97.15 Private fixed investment: Chain-type quantity index................ 70.58 73.15 75.14 73.77 68.65 73.10 79.03 86.25 91.46 100.00 108.52 121.37 83.69 85.75 86.66 88.89 90.86 90.29 Chain-type price index................... 88.12 90.48 92.76 94.70 96.14 96.07 97.46 98.92 100.14 100.00 99.95 99.20 98.35 98.74 99.16 99.41 99.84 100.20 Nonresidential: Chain-type quantity index.............. 63.65 67.11 70.83 71.35 67.83 70.11 76.00 82.78 90.89 100.00 110.71 124.80 80.05 81.62 83.07 86.40 89.66 90.22 Chain-type price index................. 92.01 94.17 96.29 98.23 99.80 99.29 99.81 100.54 100.93 100.00 99.04 97.22 100.24 100.56 100.74 100.60 100.75 101.09 Residential: Chain-type quantity index.............. 92.79 92.32 88.53 80.92 70.57 82.09 88.09 96.64 93.13 100.00 102.35 111.78 94.64 98.16 97.41 96.33 94.42 90.50 Chain-type price index................. 78.29 80.99 83.59 85.54 86.64 87.69 91.24 94.48 97.91 100.00 102.68 105.30 93.25 93.80 94.81 96.05 97.23 97.69 Exports of goods and services: Chain-type quantity index................ 46.51 54.01 60.35 65.62 70.08 74.59 76.86 83.72 92.37 100.00 112.73 115.21 79.58 82.83 84.81 87.65 89.19 90.16 Chain-type price index................... 89.92 94.66 96.48 97.13 98.20 97.66 97.94 99.07 101.38 100.00 98.23 95.95 98.31 98.71 99.30 99.96 101.03 101.83 Imports of goods and services: Chain-type quantity index................ 58.58 60.81 63.21 65.64 65.31 69.64 75.98 85.08 92.05 100.00 113.72 126.89 80.66 84.23 86.66 88.75 90.65 92.04 Chain-type price index................... 90.02 94.46 96.87 99.43 98.93 99.09 98.18 99.12 101.83 100.00 96.45 91.31 97.24 98.51 100.12 100.60 101.05 102.84 Government consumption expenditures and gross investment: Chain-type quantity index................ 90.79 91.85 94.36 97.44 98.65 99.21 98.33 98.42 98.87 100.00 102.33 104.10 97.56 97.73 99.64 98.73 98.93 99.40 Chain-type price index................... 77.31 79.39 81.99 85.27 88.07 90.06 92.48 94.89 97.59 100.00 101.78 103.34 93.95 94.71 95.16 95.74 96.71 97.26 Federal: Chain-type quantity index.............. 112.40 110.37 111.83 114.11 113.78 111.96 107.59 103.69 100.91 100.00 99.88 98.97 103.61 102.54 105.92 102.71 102.34 102.38 Chain-type price index................. 77.06 78.85 81.15 83.82 87.19 89.81 92.20 94.53 97.22 100.00 101.30 102.38 93.65 94.64 94.57 95.24 96.19 96.53 State and local: Chain-type quantity index.............. 77.99 80.90 84.02 87.56 89.67 91.63 92.83 95.28 97.66 100.00 103.79 107.14 93.97 94.88 95.90 96.36 96.90 97.63 Chain-type price index................. 77.40 79.73 82.56 86.32 88.69 90.21 92.65 95.11 97.81 100.00 102.06 103.89 94.13 94.73 95.53 96.04 97.03 97.71 Addenda: Final sales of domestic product: Chain-type quantity index.............. 77.97 81.37 84.06 85.71 85.75 88.38 90.39 93.48 96.43 100.00 104.02 108.46 92.20 93.02 93.91 94.80 95.32 95.88 Chain-type price index................. 77.71 80.36 83.48 86.77 89.69 91.64 94.12 96.10 98.16 100.00 101.69 102.93 95.37 95.81 96.38 96.82 97.52 97.92 Implicit price deflator................ 77.71 80.37 83.48 86.77 89.69 91.64 94.11 96.10 98.16 100.00 101.69 102.93 95.37 95.80 96.37 96.81 97.52 97.92 Gross domestic purchases: Chain-type quantity index.............. 79.31 81.90 84.20 85.33 84.56 87.40 90.02 93.97 96.38 100.00 104.71 110.39 92.38 93.73 94.33 95.43 95.85 96.11 Chain-type price index................. 77.94 80.57 83.71 87.14 89.90 91.90 94.24 96.18 98.28 100.00 101.39 102.14 95.34 95.86 96.54 96.96 97.60 98.12 Implicit price deflator................ 77.94 80.57 83.71 87.12 89.90 91.90 94.23 96.18 98.28 100.00 101.39 102.14 95.33 95.86 96.53 96.96 97.60 98.12 Final sales to domestic purchasers: Chain-type quantity index.............. 79.31 82.02 84.19 85.50 84.95 87.58 90.12 93.54 96.34 100.00 104.22 109.86 92.19 93.07 94.03 94.85 95.43 96.05 Chain-type price index................. 77.81 80.48 83.62 87.07 89.83 91.84 94.19 96.14 98.25 100.00 101.42 102.20 95.29 95.82 96.50 96.92 97.56 98.08 Implicit price deflator................ 77.81 80.48 83.62 87.07 89.83 91.84 94.19 96.14 98.25 100.00 101.42 102.20 95.29 95.81 96.50 96.92 97.56 98.08 Gross national product: Chain-type quantity index.............. 78.05 81.39 84.21 85.79 85.52 88.31 90.41 93.93 96.51 100.00 104.31 108.62 92.45 93.69 94.20 95.36 95.81 96.05 Chain-type price index................. 77.81 80.44 83.54 86.83 89.76 91.71 94.16 96.13 98.19 100.00 101.67 102.87 95.43 95.86 96.41 96.85 97.56 97.95 Implicit price deflator................ 77.81 80.44 83.54 86.81 89.76 91.71 94.16 96.13 98.19 100.00 101.67 102.87 95.42 95.85 96.40 96.85 97.55 97.95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- See "Explanatory Note" at the end of the tables. Table 5.--Quantity and Price Indexes for Gross Domestic Product--Continued [Index numbers, 1996=100; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------ III 95 IV 95 I 96 II 96 III 96 IV 96 I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 III 99 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Gross domestic product: Chain-type quantity index........ 96.70 97.49 98.19 99.84 100.39 101.59 102.82 104.12 105.14 105.94 107.67 108.24 109.25 110.83 111.84 112.36 113.69 Chain-type price index........... 98.39 98.86 99.46 99.77 100.21 100.56 101.14 101.53 101.83 102.15 102.41 102.70 103.06 103.28 103.79 104.13 104.38 Implicit price deflator.......... 98.38 98.85 99.45 99.77 100.20 100.55 101.15 101.53 101.82 102.12 102.35 102.68 103.07 103.33 103.83 104.19 104.43 Personal consumption expenditures: Chain-type quantity index................ 97.26 97.91 98.72 99.81 100.34 101.13 102.36 102.82 104.47 105.34 106.77 108.36 109.42 110.66 112.43 113.83 115.04 Chain-type price index................... 98.26 98.65 99.24 99.82 100.16 100.78 101.30 101.51 101.78 102.08 102.19 102.48 102.78 103.08 103.44 104.01 104.50 Durable goods: Chain-type quantity index.............. 95.81 96.62 97.61 100.64 100.26 101.50 104.15 103.76 108.64 109.98 114.35 117.42 118.62 124.26 127.95 130.76 133.01 Chain-type price index................. 100.94 100.72 100.78 100.13 99.77 99.32 99.05 98.12 97.31 96.70 96.32 95.83 95.29 94.34 93.67 93.22 92.75 Nondurable goods: Chain-type quantity index.............. 97.31 98.13 98.72 99.73 100.29 101.26 102.22 102.17 103.60 103.67 105.13 106.85 107.49 108.80 111.15 112.05 113.04 Chain-type price index................. 98.10 98.31 99.09 99.98 100.02 100.92 101.34 101.17 101.32 101.55 101.20 101.15 101.46 101.78 102.19 103.47 104.20 Services: Chain-type quantity index.............. 97.53 98.06 98.94 99.68 100.39 100.99 102.07 102.96 104.10 105.28 106.14 107.39 108.62 109.03 110.16 111.56 112.69 Chain-type price index................. 97.80 98.40 99.00 99.68 100.31 101.01 101.75 102.38 102.94 103.46 103.93 104.56 105.04 105.60 106.19 106.63 107.22 Private fixed investment: Chain-type quantity index................ 91.29 93.40 96.08 99.26 101.56 103.10 105.07 107.25 110.33 111.43 117.44 120.95 121.55 125.55 128.30 130.37 133.21 Chain-type price index................... 100.27 100.25 100.04 99.84 100.08 100.05 100.00 99.92 100.03 99.86 99.38 99.15 99.16 99.11 99.19 99.17 99.05 Nonresidential: Chain-type quantity index.............. 90.80 92.89 95.80 98.46 101.65 104.09 106.50 109.05 113.18 114.09 121.03 124.54 124.56 129.06 131.49 133.74 138.47 Chain-type price index................. 101.04 100.82 100.40 99.97 99.92 99.71 99.45 99.17 98.98 98.56 97.90 97.36 97.03 96.60 96.38 96.04 95.62 Residential: Chain-type quantity index.............. 92.71 94.89 96.91 101.56 101.30 100.24 100.98 102.15 102.30 103.96 107.43 110.91 113.07 115.74 119.30 120.91 118.97 Chain-type price index................. 98.09 98.62 99.00 99.44 100.53 101.03 101.60 102.14 103.18 103.80 103.88 104.64 105.76 106.93 107.97 108.93 109.80 Exports of goods and services: Chain-type quantity index................ 93.94 96.19 96.73 98.35 99.19 105.72 107.97 112.09 115.18 115.68 115.23 114.07 113.60 117.92 116.27 117.41 120.91 Chain-type price index................... 101.57 101.08 100.89 100.55 99.79 98.77 98.47 98.50 98.18 97.76 96.72 96.27 95.57 95.25 95.13 95.30 95.54 Imports of goods and services: Chain-type quantity index................ 92.32 93.21 95.64 98.68 102.05 103.63 107.43 112.22 116.86 118.35 122.41 126.21 127.81 131.14 135.07 139.69 145.35 Chain-type price index................... 102.15 101.28 100.87 100.42 99.28 99.43 98.27 96.43 95.85 95.24 92.57 91.63 90.55 90.48 89.81 90.96 92.27 Government consumption expenditures and gross investment: Chain-type quantity index................ 99.19 97.98 98.77 100.58 100.01 100.64 101.06 102.47 102.91 102.89 102.62 104.13 104.46 105.20 106.52 106.86 107.74 Chain-type price index................... 97.72 98.66 99.87 99.49 100.09 100.55 101.31 101.47 101.84 102.49 102.73 103.10 103.60 103.94 104.93 105.69 106.48 Federal: Chain-type quantity index.............. 101.65 97.27 99.52 101.61 99.60 99.27 98.55 100.90 100.56 99.48 96.96 99.71 99.14 100.08 99.97 100.49 101.27 Chain-type price index................. 97.13 99.05 100.28 99.46 99.93 100.34 101.20 101.24 101.18 101.57 102.07 102.30 102.41 102.76 104.89 105.13 105.47 State and local: Chain-type quantity index.............. 97.72 98.40 98.32 99.97 100.25 101.46 102.55 103.41 104.30 104.91 105.98 106.75 107.61 108.23 110.39 110.64 111.57 Chain-type price index................. 98.08 98.42 99.62 99.52 100.19 100.68 101.38 101.62 102.22 103.03 103.11 103.56 104.27 104.62 104.98 106.02 107.06 Addenda: Final sales of domestic product: Chain-type quantity index.............. 96.92 97.61 98.48 99.84 100.13 101.55 102.54 103.33 104.78 105.41 106.73 108.06 108.69 110.34 111.59 112.52 113.66 Chain-type price index................. 98.36 98.84 99.46 99.77 100.21 100.56 101.16 101.56 101.86 102.18 102.47 102.77 103.13 103.36 103.88 104.24 104.51 Implicit price deflator................ 98.36 98.84 99.45 99.77 100.20 100.56 101.15 101.55 101.86 102.18 102.46 102.76 103.13 103.35 103.87 104.23 104.51 Gross domestic purchases: Chain-type quantity index.............. 96.46 97.10 98.03 99.86 100.72 101.39 102.81 104.22 105.44 106.35 108.58 109.68 110.91 112.39 113.99 114.88 116.46 Chain-type price index................. 98.49 98.91 99.48 99.77 100.14 100.62 101.09 101.23 101.48 101.76 101.79 101.99 102.26 102.51 102.92 103.40 103.81 Implicit price deflator................ 98.49 98.90 99.47 99.76 100.13 100.61 101.10 101.23 101.48 101.74 101.73 101.97 102.28 102.56 102.96 103.46 103.86 Final sales to domestic purchasers: Chain-type quantity index.............. 96.68 97.22 98.32 99.86 100.47 101.35 102.54 103.44 105.09 105.83 107.64 109.51 110.36 111.92 113.75 115.06 116.45 Chain-type price index................. 98.47 98.89 99.47 99.77 100.14 100.62 101.10 101.25 101.52 101.80 101.84 102.05 102.33 102.58 103.00 103.50 103.93 Implicit price deflator................ 98.46 98.89 99.47 99.76 100.13 100.62 101.10 101.25 101.51 101.79 101.83 102.05 102.33 102.57 103.00 103.50 103.93 Gross national product: Chain-type quantity index.............. 96.62 97.57 98.31 99.84 100.30 101.56 102.64 103.99 104.92 105.69 107.45 107.99 108.68 110.35 111.39 111.91 ..... Chain-type price index................. 98.39 98.86 99.46 99.77 100.21 100.56 101.15 101.53 101.84 102.15 102.42 102.71 103.06 103.29 103.79 104.14 ..... Implicit price deflator................ 98.38 98.85 99.45 99.77 100.20 100.56 101.16 101.54 101.83 102.13 102.36 102.69 103.07 103.34 103.84 104.19 ..... ------------------------------------------------------------------------------------------------------------------------------------------------------------------ See "Explanatory Note" at the end of the tables. Table 6.--Real Gross Domestic Product: Historical Perspective [Percent change from preceding year] --------------------------------------------------------------------------------------------------------------------------------------------------------------- 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 --------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP).... ..... 2.5 2.3 6.0 4.3 5.8 6.4 6.6 2.5 4.8 3.1 .2 3.1 5.3 5.7 -.3 -.3 5.2 4.5 5.7 Personal consumption expenditures...... ..... 2.7 2.0 4.9 4.1 6.0 6.3 5.7 3.0 5.7 3.8 2.3 3.5 5.9 4.8 -.4 2.3 5.4 4.2 4.7 Durable goods........................ ..... 2.0 -3.8 11.7 9.7 9.3 12.6 8.5 1.6 11.0 3.6 -3.2 10.0 12.7 10.3 -6.9 .0 12.8 9.3 5.3 Nondurable goods..................... ..... 1.5 1.8 3.1 2.1 4.9 5.3 5.5 1.6 4.6 2.7 2.4 1.8 4.4 3.3 -2.0 1.5 4.9 2.4 3.7 Services............................. ..... 4.4 4.1 4.9 4.6 6.1 5.3 5.0 4.9 5.1 5.0 4.0 3.2 5.2 4.5 3.1 3.6 3.8 4.1 5.3 Gross private domestic investment...... ..... .0 -.7 12.7 6.7 8.3 14.0 8.8 -4.6 5.8 5.8 -6.6 11.4 11.8 11.7 -7.4 -17.7 20.2 15.1 11.5 Fixed investment..................... ..... .9 -.3 9.0 7.7 9.7 10.2 5.7 -1.9 6.9 6.2 -2.1 7.5 12.0 9.1 -6.3 -10.7 9.8 14.4 11.5 Nonresidential..................... ..... 5.7 -.6 8.7 5.5 11.9 17.4 12.5 -1.4 4.4 7.6 -.5 -.1 9.1 14.5 .8 -9.9 4.9 11.3 14.1 Structures....................... ..... 7.9 1.3 4.5 1.1 10.4 15.9 6.8 -2.5 1.4 5.4 .3 -1.6 3.1 8.1 -2.1 -10.5 2.5 4.1 11.8 Equipment and software........... ..... 4.2 -1.9 11.5 8.4 12.7 18.3 15.9 -.7 6.2 8.8 -1.0 .9 12.8 18.3 2.5 -9.6 6.2 15.0 15.2 Residential........................ ..... -7.1 .3 9.6 11.8 5.8 -2.9 -8.9 -3.1 13.6 3.0 -6.0 27.4 17.8 -.6 -20.6 -13.0 23.5 21.5 6.3 Change in private inventories........ ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services...... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports.............................. ..... 20.8 1.7 5.3 7.6 13.3 2.0 6.7 2.2 7.3 5.5 10.8 .5 8.0 21.8 9.8 -.6 5.6 2.4 10.6 Goods.............................. ..... 23.4 .5 4.4 7.9 13.7 .5 6.9 .5 7.9 5.2 11.4 -.4 10.8 23.0 7.9 -2.3 4.7 1.3 11.2 Services........................... ..... 10.6 6.6 9.0 6.4 11.9 7.8 5.7 8.7 5.1 6.6 8.8 3.7 -.9 17.3 18.3 7.1 8.9 6.6 8.7 Imports.............................. ..... 1.3 -.7 11.3 2.7 5.3 10.6 14.9 7.3 14.9 5.7 4.3 5.3 11.2 4.6 -2.3 -11.1 19.6 10.9 8.7 Goods.............................. ..... -1.6 -.1 14.8 4.0 6.6 14.2 15.8 5.3 20.7 5.5 3.9 8.4 13.6 7.1 -2.8 -12.6 22.6 12.2 9.0 Services........................... ..... 7.8 -1.7 4.7 -.1 2.6 2.9 12.7 12.2 1.8 6.3 5.2 -2.8 4.1 -3.4 -.1 -4.3 6.9 5.0 7.1 Government consumption expenditures and gross investment.................. ..... .0 4.8 6.0 2.4 2.0 3.1 9.0 7.5 3.2 -.3 -2.3 -2.0 .0 -.8 2.1 2.0 -.1 .9 3.2 Federal.............................. ..... -3.0 3.9 8.3 -.3 -1.7 .2 11.3 9.7 .9 -3.3 -7.0 -7.2 -2.2 -5.0 -.3 .0 -1.2 1.7 2.7 National defense................... ..... -1.9 4.1 5.9 -2.5 -4.3 -1.8 14.5 12.8 1.8 -4.7 -8.4 -10.2 -5.0 -6.5 -2.5 -1.2 -2.1 .8 .8 Nondefense......................... ..... -8.1 2.7 20.6 9.7 8.7 6.9 1.3 -1.0 -2.6 2.7 -1.5 3.5 6.4 -.5 5.9 3.2 .9 4.1 7.2 State and local...................... ..... 4.4 6.1 3.0 6.1 6.7 6.7 6.3 5.0 5.9 3.0 2.8 3.0 2.0 2.8 3.9 3.4 .8 .4 3.6 Addenda: Final sales of domestic product...... ..... 2.6 2.4 5.5 4.4 6.0 5.8 6.1 3.0 4.9 3.2 .9 2.6 5.3 5.2 .0 1.0 3.8 4.3 5.6 Gross domestic purchases............. ..... 1.7 2.2 6.3 4.1 5.4 6.8 6.9 2.7 5.1 3.1 -.1 3.4 5.5 4.7 -1.1 -1.2 6.3 5.2 5.6 Final sales to domestic purchasers.......................... ..... 1.8 2.3 5.7 4.2 5.6 6.2 6.4 3.3 5.3 3.2 .6 2.8 5.5 4.3 -.9 .1 4.8 5.0 5.5 Gross national product............... ..... 2.5 2.4 6.1 4.3 5.8 6.4 6.4 2.5 4.8 3.1 .2 3.2 5.3 5.9 -.2 -.5 5.4 4.6 5.6 Real disposable personal income...... ..... 2.5 3.3 4.8 3.8 7.2 6.2 5.3 4.3 4.6 3.2 4.2 4.1 4.5 6.8 -.3 2.0 3.9 3.5 5.2 Gross domestic purchases price index............................... ..... 1.4 1.1 1.3 1.2 1.6 1.8 2.8 2.9 4.3 4.8 5.4 5.4 4.6 5.9 9.8 9.1 6.0 6.9 7.0 GDP price index...................... ..... 1.4 1.1 1.4 1.1 1.5 1.9 2.9 3.1 4.3 4.8 5.3 5.3 4.4 5.7 8.6 9.3 6.0 6.5 6.9 --------------------------------------------------------------------------------------------------------------------------------------------------------------- Table 6.--Real Gross Domestic Product: Historical Perspective--Continued [Percent change from preceding year] --------------------------------------------------------------------------------------------------------------------------------------------------------------- 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 --------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP).... 3.4 .0 2.5 -1.9 4.2 7.3 3.9 3.4 3.5 4.2 3.5 1.7 -.2 3.3 2.4 4.0 2.7 3.7 4.5 4.3 Personal consumption expenditures...... 2.8 .0 1.4 1.4 5.3 5.4 5.0 4.2 3.5 4.1 2.6 1.8 .1 3.2 3.0 3.8 3.0 3.3 3.7 4.9 Durable goods........................ -.3 -7.9 1.3 .0 14.9 14.6 9.9 9.1 1.7 5.8 2.1 -.9 -6.6 5.3 8.2 7.6 4.6 5.6 6.6 11.3 Nondurable goods..................... 2.7 -.2 1.2 1.0 3.3 4.0 2.7 3.6 2.4 3.2 2.7 1.4 -.4 1.9 2.9 3.8 3.0 2.9 2.9 4.0 Services............................. 3.8 2.4 1.6 2.1 4.6 4.3 5.3 3.4 4.6 4.2 2.7 2.7 1.9 3.5 2.0 3.0 2.8 3.0 3.6 4.0 Gross private domestic investment...... 3.1 -10.9 9.2 -14.0 9.5 29.3 -.9 -.7 2.5 2.7 3.7 -3.1 -8.6 8.5 8.7 13.2 3.0 9.0 11.5 11.7 Fixed investment..................... 5.6 -6.4 2.2 -7.0 7.5 16.8 5.3 1.2 .0 3.6 2.7 -1.8 -6.9 6.5 8.1 9.1 6.0 9.3 8.5 11.8 Nonresidential..................... 10.0 -.1 5.6 -3.7 -1.0 17.6 6.7 -2.7 -.1 5.4 5.5 .7 -4.9 3.4 8.4 8.9 9.8 10.0 10.7 12.7 Structures....................... 12.6 6.6 7.9 -1.5 -10.4 14.3 7.3 -10.8 -3.6 1.3 2.5 1.5 -11.0 -6.1 .8 .8 4.8 7.1 8.5 4.1 Equipment and software........... 8.7 -3.6 4.2 -5.2 5.4 19.5 6.4 2.0 1.7 7.5 7.0 .4 -2.0 7.4 11.3 11.9 11.5 11.0 11.5 15.8 Residential........................ -3.7 -21.1 -8.0 -18.2 41.1 14.6 1.4 12.0 .2 -.5 -4.1 -8.6 -12.8 16.3 7.3 9.7 -3.6 7.4 2.3 9.2 Change in private inventories........ ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services...... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports.............................. 9.8 10.9 1.2 -7.0 -2.6 8.4 2.8 7.4 11.4 16.1 11.7 8.7 6.8 6.4 3.0 8.9 10.3 8.3 12.7 2.2 Goods.............................. 11.8 11.9 -1.1 -9.0 -2.9 7.9 3.4 5.1 11.1 18.8 12.6 8.2 7.1 6.8 3.0 9.7 11.9 8.7 14.5 2.1 Services........................... 2.5 7.0 10.7 .5 -1.7 9.8 1.0 13.4 12.2 9.5 9.4 10.0 6.1 5.5 3.1 7.2 6.6 7.1 8.5 2.5 Imports.............................. 1.7 -6.6 2.6 -1.3 12.6 24.3 6.5 8.4 6.1 3.8 3.9 3.8 -.5 6.6 9.1 12.0 8.2 8.6 13.7 11.6 Goods.............................. 1.7 -7.4 2.1 -2.5 13.6 24.2 6.2 10.3 4.6 4.1 4.2 3.0 -.1 9.3 10.1 13.3 9.0 9.4 14.2 11.7 Services........................... 1.4 -2.2 5.8 5.3 8.1 25.1 7.6 .3 12.6 2.7 2.8 7.6 -2.3 -4.0 4.7 5.8 4.1 4.8 11.2 10.8 Government consumption expenditures and gross investment.................. 2.0 2.1 .9 1.6 3.3 3.5 6.5 5.4 3.0 1.2 2.7 3.3 1.2 .6 -.9 .1 .5 1.1 2.3 1.7 Federal.............................. 2.5 4.8 4.7 3.7 6.3 3.1 7.6 5.5 3.7 -1.8 1.3 2.0 -.3 -1.6 -3.9 -3.6 -2.7 -.9 -.1 -.9 National defense................... 2.9 4.2 6.1 7.4 6.8 4.8 8.4 6.3 4.7 -.8 -.8 .0 -1.1 -4.9 -5.4 -4.8 -3.7 -1.3 -2.5 -1.9 Nondefense......................... 1.6 6.3 1.6 -5.3 4.9 -1.6 5.4 3.1 .6 -5.2 8.3 8.3 2.0 7.2 -.4 -1.0 -.5 .0 4.6 1.0 State and local...................... 1.7 .1 -1.9 .0 .8 3.8 5.4 5.4 2.4 3.7 3.9 4.2 2.4 2.2 1.3 2.6 2.5 2.4 3.8 3.2 Addenda: Final sales of domestic product...... 3.9 1.0 1.3 -.5 3.9 5.3 5.0 3.8 3.1 4.4 3.3 2.0 .0 3.1 2.3 3.4 3.2 3.7 4.0 4.3 Gross domestic purchases............. 2.7 -1.6 2.6 -1.3 5.5 8.7 4.2 3.6 3.2 3.3 2.8 1.3 -.9 3.4 3.0 4.4 2.6 3.8 4.7 5.4 Final sales to domestic purchasers.......................... 3.2 -.7 1.4 .0 5.2 6.8 5.3 4.0 2.8 3.4 2.6 1.6 -.6 3.1 2.9 3.8 3.0 3.8 4.2 5.4 Gross national product............... 3.7 .0 2.3 -1.9 4.1 7.1 3.6 3.2 3.4 4.3 3.5 1.9 -.3 3.3 2.4 3.9 2.8 3.6 4.3 4.1 Real disposable personal income...... 3.2 1.2 2.3 1.6 2.9 7.7 3.4 3.2 2.3 4.4 2.5 2.2 .7 3.5 1.0 2.6 2.7 2.6 3.6 4.1 Gross domestic purchases price index............................... 8.6 10.3 9.1 5.7 3.6 3.5 2.9 2.2 3.2 3.4 3.9 4.1 3.2 2.2 2.5 2.1 2.2 1.7 1.4 .7 GDP price index...................... 8.1 8.9 9.3 6.1 4.1 3.7 3.1 2.2 2.9 3.4 3.9 3.9 3.4 2.2 2.7 2.1 2.1 1.8 1.7 1.2 --------------------------------------------------------------------------------------------------------------------------------------------------------------- Table 6A.--Gross Domestic Product: Levels, Percent Change from Previous Period, and Revision to Percent Change ------------------------------------------------------------------------------------------------------------------------------------------------------- Billions of dollars Percent change from preceding period Revision to percent change from previous period\2\ ---------------------------------------------- ---------------------------------------------- ---------------------------------------------- GDP PCE Gross Exports Imports Govern- GDP PCE Gross Exports Imports Govern- GDP PCE Gross Exports Imports Govern- private of of ment\1\ private of of ment\1\ private of of ment\1\ domes- goods goods domes- goods goods domes- goods goods tic in- and and tic in- and and tic in- and and vest ser- ser- vest ser- ser- vest ser- ser- ment vices vices ment vices vices ment vices vices ------------------------------------------------------------------------------------------------------------------------------------------------------- 1959... 507.4 318.1 78.5 20.6 22.3 112.5 ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... 1960... 527.4 332.3 78.9 25.3 22.8 113.8 3.9 4.5 .5 22.3 2.3 1.2 .1 .1 .5 .0 .0 .1 1961... 545.7 342.7 78.2 26.0 22.7 121.5 3.5 3.1 -.9 3.1 -.7 6.8 .0 -.1 .1 .0 .0 .1 1962... 586.5 363.8 88.1 27.4 25.0 132.2 7.5 6.2 12.8 5.3 10.0 8.8 .1 .1 .0 .0 .0 .1 1963... 618.7 383.1 93.8 29.4 26.1 138.5 5.5 5.3 6.4 7.4 4.7 4.8 .0 -.1 .2 .0 .0 .0 1964... 664.4 411.7 102.1 33.6 28.1 145.1 7.4 7.5 8.9 14.1 7.5 4.8 .0 .1 .0 .0 .0 .0 1965... 720.1 444.3 118.2 35.4 31.5 153.7 8.4 7.9 15.9 5.4 12.2 5.9 -.1 -.1 -.1 .0 .0 -.1 1966... 789.3 481.8 131.3 38.9 37.1 174.3 9.6 8.4 11.0 10.0 17.5 13.4 .1 -.1 .5 .0 .0 -.1 1967... 834.1 508.7 128.6 41.4 39.9 195.3 5.7 5.6 -2.1 6.2 7.7 12.0 -.1 -.1 -.3 .0 .0 -.1 1968... 911.5 558.7 141.2 45.3 46.6 212.8 9.3 9.8 9.8 9.5 16.6 8.9 .1 -.1 .5 .0 .0 -.1 1969... 985.3 605.5 156.4 49.3 50.5 224.6 8.1 8.4 10.8 8.8 8.5 5.5 .2 .4 .0 .0 .0 .0 1970... 1,039.7 648.9 152.4 57.0 55.8 237.1 5.5 7.2 -2.6 15.6 10.4 5.6 .1 .0 .5 .0 .0 .1 1971... 1,128.6 702.4 178.2 59.3 62.3 251.0 8.6 8.2 16.9 4.1 11.8 5.9 -.1 -.2 -.3 .0 .0 .1 1972... 1,240.4 770.7 207.6 66.2 74.2 270.1 9.9 9.7 16.5 11.6 19.0 7.6 .0 .0 -.3 .0 .0 .0 1973... 1,385.5 852.5 244.5 91.8 91.2 287.9 11.7 10.6 17.8 38.6 22.8 6.6 .0 .1 -.3 .0 .0 -.3 1974... 1,501.0 932.4 249.4 124.3 127.5 322.4 8.3 9.4 2.0 35.5 39.8 12.0 .0 .1 .9 .0 .0 -.4 1975... 1,635.2 1,030.3 230.2 136.3 122.7 361.1 8.9 10.5 -7.7 9.6 -3.7 12.0 .0 .0 .5 .0 .0 -.2 1976... 1,823.9 1,149.8 292.0 148.9 151.1 384.5 11.5 11.6 26.8 9.2 23.2 6.5 .0 .0 -.4 .0 .0 .1 1977... 2,031.4 1,278.4 361.3 158.8 182.4 415.3 11.4 11.2 23.8 6.7 20.7 8.0 .0 .0 -.6 .0 .0 .0 1978... 2,295.9 1,430.4 436.0 186.1 212.3 455.6 13.0 11.9 20.7 17.2 16.3 9.7 .0 .0 -.1 .0 .0 -.1 1979... 2,566.4 1,596.3 490.6 228.7 252.7 503.5 11.8 11.6 12.5 22.9 19.0 10.5 .2 .1 .9 .0 .0 -.2 1980... 2,795.6 1,762.9 477.9 278.9 293.8 569.7 8.9 10.4 -2.6 22.0 16.3 13.2 .0 -.1 .5 .0 .0 .2 1981... 3,131.3 1,944.2 570.8 302.8 317.8 631.4 12.0 10.3 19.5 8.5 8.1 10.8 .1 .0 .1 .0 .0 .2 1982... 3,259.2 2,079.3 516.1 282.6 303.2 684.4 4.1 7.0 -9.6 -6.7 -4.6 8.4 .0 .0 .3 .0 .0 .3 1983... 3,534.9 2,286.4 564.2 277.0 328.6 735.9 8.5 10.0 9.3 -2.0 8.4 7.5 .1 .1 .1 .0 .0 .1 1984... 3,932.7 2,498.4 735.5 303.1 405.1 800.8 11.3 9.3 30.4 9.4 23.3 8.8 .3 .2 -.4 .0 .0 .5 1985... 4,213.0 2,712.6 736.3 303.0 417.2 878.3 7.1 8.6 .1 .0 3.0 9.7 .0 .1 .2 .0 .0 -.1 1986... 4,452.9 2,895.2 747.2 320.3 452.2 942.3 5.7 6.7 1.5 5.7 8.4 7.3 -.1 -.2 .5 -.1 .0 .0 1987... 4,742.5 3,105.3 781.5 365.6 507.9 997.9 6.5 7.3 4.6 14.1 12.3 5.9 .4 .3 1.2 .1 .0 .1 1988... 5,108.3 3,356.6 821.1 446.9 553.2 1,036.9 7.7 8.1 5.1 22.2 8.9 3.9 .1 -.1 1.5 -.1 .0 .0 1989... 5,489.1 3,596.7 872.9 509.0 589.7 1,100.2 7.5 7.2 6.3 13.9 6.6 6.1 -.2 -.1 -.8 .0 .0 .0 1990... 5,803.2 3,831.5 861.7 557.2 628.6 1,181.4 5.7 6.5 -1.3 9.5 6.6 7.4 .1 -.3 2.3 .1 .0 .0 1991... 5,986.2 3,971.2 800.2 601.6 622.3 1,235.5 3.2 3.6 -7.1 8.0 -1.0 4.6 .2 .1 .8 .0 .0 .4 1992... 6,318.9 4,209.7 866.6 636.8 664.6 1,270.5 5.6 6.0 8.3 5.8 6.8 2.8 .1 -.2 .9 -.5 -.7 -.3 1993... 6,642.3 4,454.7 955.1 658.0 718.5 1,293.0 5.1 5.8 10.2 3.3 8.1 1.8 .1 .1 -.6 .3 .6 .2 1994... 7,054.3 4,716.4 1,097.1 725.1 812.1 1,327.9 6.2 5.9 14.9 10.2 13.0 2.7 .3 .1 -.1 .7 .1 .4 1995... 7,400.5 4,969.0 1,143.8 818.6 902.8 1,372.0 4.9 5.4 4.2 12.9 11.2 3.3 .3 .4 .7 -.7 .0 .0 1996... 7,813.2 5,237.5 1,242.7 874.2 963.1 1,421.9 5.6 5.4 8.7 6.8 6.7 3.6 .2 .1 .2 .2 -.1 .0 1997... 8,300.8 5,524.4 1,383.7 968.0 1,056.3 1,481.0 6.2 5.5 11.3 10.7 9.7 4.2 .3 .2 .3 .2 .0 .7 1998... 8,759.9 5,848.6 1,531.2 966.3 1,115.9 1,529.7 5.5 5.9 10.7 -.2 5.6 3.3 .6 .2 1.9 .5 .7 1.1 ------------------------------------------------------------------------------------------------------------------------------------------------------- GDP Gross domestic product. PCE Personal consumption expenditures. 1. Government consumption expenditures and gross investment. 2. Revised percent change less the previously published percent change. Table 6B.--Real Gross Domestic Product: Levels, Percent Change from Previous Period, and Revision to Percent Change --------------------------------------------------------------------------------------------------------------------------------------------------------------- Billions of chained (1996) dollars Percent change from preceding period Revision to percent change from previous period\2\ ------------------------------------------------------ ---------------------------------------------- ---------------------------------------------- GDP PCE Gross Exports Imports Govern- Resid- GDP PCE Gross Exports Imports Govern- GDP PCE Gross Exports Imports Govern- private of of ment\1\ ual private of of ment\1\ private of of ment\1\ domes- goods goods domes- goods goods domes- goods goods tic in- and and tic in- and and tic in- and and vest ser- ser- vest ser- ser- vest ser- ser- ment vices vices ment vices vices ment vices vices --------------------------------------------------------------------------------------------------------------------------------------------------------------- 1959... 2,300.0 1,454.8 272.9 71.9 106.6 659.7 -52.7 ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... 1960... 2,357.2 1,494.4 272.8 86.8 108.0 659.5 -48.3 2.5 2.7 .0 20.8 1.3 .0 .1 .0 .4 .0 .0 .2 1961... 2,412.1 1,524.6 271.0 88.2 107.3 691.3 -55.7 2.3 2.0 -.7 1.7 -.7 4.8 .0 .0 .4 .0 .0 -.1 1962... 2,557.6 1,599.7 305.3 93.0 119.5 732.9 -53.8 6.0 4.9 12.7 5.3 11.3 6.0 -.1 .0 -.2 -.1 .0 .0 1963... 2,668.2 1,665.7 325.7 100.0 122.7 750.2 -50.7 4.3 4.1 6.7 7.6 2.7 2.4 .0 .0 .3 .1 .0 .1 1964... 2,822.7 1,765.2 352.6 113.3 129.2 764.8 -44.0 5.8 6.0 8.3 13.3 5.3 2.0 .0 .0 .0 .0 .0 .0 1965... 3,002.8 1,876.4 402.0 115.6 142.9 788.6 -36.9 6.4 6.3 14.0 2.0 10.6 3.1 .0 .0 .0 .0 .0 .1 1966... 3,199.5 1,983.3 437.3 123.3 164.2 859.3 -39.5 6.6 5.7 8.8 6.7 14.9 9.0 .1 .0 .4 .0 .0 -.1 1967... 3,279.5 2,042.7 417.2 126.0 176.2 924.1 -54.3 2.5 3.0 -4.6 2.2 7.3 7.5 .0 .0 -.2 .0 .0 -.1 1968... 3,435.6 2,159.1 441.3 135.2 202.4 953.4 -51.0 4.8 5.7 5.8 7.3 14.9 3.2 .1 .0 .6 .0 .0 .1 1969... 3,543.2 2,241.2 466.9 142.7 213.9 950.0 -43.7 3.1 3.8 5.8 5.5 5.7 -.3 .1 .1 .0 .0 .0 .3 1970... 3,549.4 2,293.0 436.2 158.1 223.1 928.6 -43.4 .2 2.3 -6.6 10.8 4.3 -2.3 .1 .0 .4 .0 .0 .0 1971... 3,660.2 2,373.6 485.8 158.9 235.0 909.7 -32.8 3.1 3.5 11.4 .5 5.3 -2.0 -.2 -.2 .0 -.2 .0 -.2 1972... 3,854.2 2,513.2 543.0 171.7 261.3 909.8 -22.2 5.3 5.9 11.8 8.0 11.2 .0 -.2 -.1 -.2 -.1 .2 -.4 1973... 4,073.1 2,634.0 606.5 209.1 273.4 902.6 -5.7 5.7 4.8 11.7 21.8 4.6 -.8 -.1 .0 -.3 .0 .1 -.1 1974... 4,061.7 2,622.3 561.7 229.6 267.2 921.3 -6.0 -.3 -.4 -7.4 9.8 -2.3 2.1 .3 .3 .8 .2 .4 .4 1975... 4,050.3 2,681.3 462.2 228.3 237.5 939.3 -23.3 -.3 2.3 -17.7 -.6 -11.1 2.0 .1 .1 .6 .1 .2 .5 1976... 4,262.6 2,826.5 555.5 241.0 284.0 938.6 -15.0 5.2 5.4 20.2 5.6 19.6 -.1 -.2 -.2 -.1 -.3 .0 -.2 1977... 4,455.7 2,944.0 639.4 246.9 315.0 947.4 -7.0 4.5 4.2 15.1 2.4 10.9 .9 -.2 -.1 -.7 .0 .2 .0 1978... 4,709.9 3,081.6 713.0 273.1 342.3 977.6 6.9 5.7 4.7 11.5 10.6 8.7 3.2 .3 .4 .0 .2 .0 .3 1979... 4,870.1 3,168.0 735.4 299.9 347.9 997.6 17.1 3.4 2.8 3.1 9.8 1.7 2.0 .6 .5 .7 .3 .0 .4 1980... 4,872.3 3,169.4 655.3 332.8 324.8 1,018.6 21.0 .0 .0 -10.9 10.9 -6.6 2.1 .3 .3 .6 .1 .1 .3 1981... 4,993.9 3,214.0 715.6 336.7 333.4 1,027.9 33.1 2.5 1.4 9.2 1.2 2.6 .9 .2 .2 .0 .0 .0 .2 1982... 4,900.3 3,259.8 615.2 313.2 329.2 1,044.5 -3.2 -1.9 1.4 -14.0 -7.0 -1.3 1.6 .2 .2 .4 .1 .0 .3 1983... 5,105.6 3,431.7 673.7 305.2 370.7 1,078.9 -13.2 4.2 5.3 9.5 -2.6 12.6 3.3 .2 .1 .1 .0 .0 .5 1984... 5,477.4 3,617.6 871.5 330.7 461.0 1,116.3 2.3 7.3 5.4 29.3 8.4 24.3 3.5 .3 .2 -.5 .1 .0 .4 1985... 5,689.8 3,798.0 863.4 339.8 490.7 1,188.4 -9.1 3.9 5.0 -.9 2.8 6.5 6.5 .3 .3 .2 .1 .0 .4 1986... 5,885.7 3,958.7 857.7 365.0 531.9 1,253.2 -17.0 3.4 4.2 -.7 7.4 8.4 5.4 .3 .2 .8 .0 .0 .3 1987... 6,092.6 4,096.0 879.3 406.6 564.2 1,290.9 -16.0 3.5 3.5 2.5 11.4 6.1 3.0 .6 .4 1.3 .4 .0 .3 1988... 6,349.1 4,263.2 902.8 472.2 585.6 1,306.1 -9.6 4.2 4.1 2.7 16.1 3.8 1.2 .4 .2 1.9 .2 -.1 -.1 1989... 6,568.7 4,374.4 936.5 527.6 608.8 1,341.8 -2.8 3.5 2.6 3.7 11.7 3.9 2.7 .1 .3 -.6 .0 .0 -.1 1990... 6,683.5 4,454.1 907.3 573.6 632.2 1,385.5 -4.8 1.7 1.8 -3.1 8.7 3.8 3.3 .5 .1 2.5 .2 -.1 .3 1991... 6,669.2 4,460.6 829.5 612.6 629.0 1,402.8 -7.3 -.2 .1 -8.6 6.8 -.5 1.2 .7 .7 .8 .5 .2 .6 1992... 6,891.1 4,603.8 899.8 652.1 670.8 1,410.7 -4.5 3.3 3.2 8.5 6.4 6.6 .6 .6 .4 1.4 -.2 -.9 .1 1993... 7,054.1 4,741.9 977.9 671.9 731.8 1,398.1 -3.9 2.4 3.0 8.7 3.0 9.1 -.9 .1 .1 -.6 .1 .2 .0 1994... 7,337.8 4,920.0 1,107.0 731.8 819.4 1,399.4 -1.0 4.0 3.8 13.2 8.9 12.0 .1 .5 .5 .2 .7 -.2 .1 1995... 7,537.1 5,070.1 1,140.6 807.4 886.6 1,405.9 -.3 2.7 3.0 3.0 10.3 8.2 .5 .4 .3 .9 -1.0 -.6 .3 1996... 7,813.2 5,237.5 1,242.7 874.2 963.1 1,421.9 .0 3.7 3.3 9.0 8.3 8.6 1.1 .3 .1 .2 -.2 -.6 .0 1997... 8,165.1 5,433.7 1,385.8 985.4 1,095.2 1,455.1 .3 4.5 3.7 11.5 12.7 13.7 2.3 .6 .3 .2 -.1 -.2 1.0 1998... 8,516.3 5,698.6 1,547.4 1,007.1 1,222.2 1,480.3 5.1 4.3 4.9 11.7 2.2 11.6 1.7 .4 .0 1.4 .7 1.0 .8 --------------------------------------------------------------------------------------------------------------------------------------------------------------- GDP Gross domestic product. PCE Personal consumption expenditures. 1. Government consumption expenditures and gross investment. 2. Revised percent change less the previously published percent change. Note.--Users are cautioned that particularly for components for which relative prices are changing rapidly, the use of chained-dollar estimates to calculate component shares or component contributions to real growth may be misleading, even just a years from the base year. For accurate estimates of the contributions to percent changes in real GDP, use table 2. Table 6C.--Chain-Type Price Indexes for Gross Domestic Product, Percent Change from Previous Period, and Revision to Percent Change ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Chain-type price indexes, 1996=100 Percent change from preceding period Revision to percent change from previous period\2\ ------------------------------------------------------ ------------------------------------------------------ ------------------------------------------------------ GDP PCE Gross Exports Imports Govern- Gross GDP PCE Gross Exports Imports Govern- Gross GDP PCE Gross Exports Imports Govern- Gross private of of ment\1\ domes- private of of ment\1\ domes- private of of ment\1\ domes- domes- goods goods tic domes- goods goods tic domes- goods goods tic tic in- and and pur- tic in- and and pur- tic in- and and pur- vest ser- ser- chases vest ser- ser- chases vest ser- ser- chases ment vices vices ment vices vices ment vices vices ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1959... 22.06 21.87 28.78 28.74 20.95 17.04 21.57 ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... 1960... 22.37 22.24 28.92 29.10 21.15 17.24 21.87 1.4 1.7 .5 1.2 .9 1.2 1.4 .0 .1 .1 .0 .0 -.1 .0 1961... 22.62 22.47 28.84 29.51 21.15 17.56 22.10 1.1 1.1 -.3 1.4 .0 1.9 1.1 -.1 .0 -.3 .0 .0 .1 .0 1962... 22.93 22.74 28.87 29.49 20.90 18.02 22.40 1.4 1.2 .1 -.1 -1.2 2.6 1.3 .1 .1 .2 .0 .0 .0 .1 1963... 23.18 23.00 28.78 29.44 21.30 18.45 22.67 1.1 1.2 -.3 -.2 1.9 2.4 1.2 -.1 .0 .0 -.1 -.1 .0 -.1 1964... 23.53 23.32 28.95 29.64 21.75 18.95 23.02 1.5 1.4 .6 .7 2.1 2.8 1.6 .0 .0 .0 .0 .0 .0 .0 1965... 23.98 23.68 29.42 30.62 22.06 19.47 23.44 1.9 1.5 1.6 3.3 1.4 2.7 1.8 .0 -.1 .0 .0 .0 -.2 -.1 1966... 24.66 24.29 30.03 31.57 22.57 20.27 24.10 2.9 2.6 2.1 3.1 2.3 4.1 2.8 .1 .0 .1 .0 .0 .1 .0 1967... 25.43 24.90 30.83 32.82 22.66 21.12 24.80 3.1 2.5 2.7 3.9 .4 4.2 2.9 -.1 -.2 .0 .0 .0 .0 -.1 1968... 26.52 25.88 31.99 33.50 23.00 22.30 25.87 4.3 3.9 3.8 2.1 1.5 5.6 4.3 -.1 -.1 -.1 .0 .0 -.1 .0 1969... 27.81 27.02 33.51 34.53 23.60 23.62 27.11 4.8 4.4 4.8 3.1 2.6 5.9 4.8 .1 .3 .0 -.1 .0 -.2 .1 1970... 29.29 28.30 34.93 36.03 25.00 25.51 28.57 5.3 4.8 4.2 4.3 5.9 8.0 5.4 .0 .1 .0 .0 .0 .0 .0 1971... 30.83 29.59 36.69 37.33 26.53 27.56 30.12 5.3 4.6 5.0 3.6 6.1 8.0 5.4 .1 .1 -.1 .2 .0 .2 .1 1972... 32.18 30.67 38.24 38.58 28.40 29.65 31.50 4.4 3.6 4.2 3.4 7.0 7.6 4.6 .2 .1 -.2 .1 -.2 .3 .1 1973... 34.01 32.37 40.31 43.90 33.34 31.87 33.37 5.7 5.5 5.4 13.8 17.4 7.5 5.9 .1 .1 -.1 .1 -.2 -.2 .0 1974... 36.94 35.56 44.33 54.14 47.70 34.96 36.65 8.6 9.9 10.0 23.3 43.1 9.7 9.8 -.3 -.2 -.1 -.3 -.6 -.8 -.4 1975... 40.37 38.43 49.80 59.70 51.67 38.41 39.99 9.3 8.1 12.3 10.3 8.3 9.9 9.1 -.1 .0 -.1 -.1 -.2 -.6 -.2 1976... 42.78 40.68 52.57 61.76 53.22 40.92 42.37 6.0 5.9 5.6 3.5 3.0 6.5 6.0 .2 .2 .0 .3 .0 .1 .2 1977... 45.58 43.43 56.51 64.32 57.92 43.79 45.31 6.5 6.8 7.5 4.1 8.8 7.0 6.9 .0 .2 .1 .0 -.2 -.1 .0 1978... 48.74 46.42 61.15 68.15 62.01 46.59 48.49 6.9 6.9 8.2 6.0 7.1 6.4 7.0 -.4 -.4 -.2 -.2 .0 -.3 -.4 1979... 52.69 50.39 66.71 76.25 72.62 50.46 52.67 8.1 8.6 9.1 11.9 17.1 8.3 8.6 -.4 -.4 .1 -.3 .0 -.7 -.4 1980... 57.39 55.62 73.01 83.82 90.45 55.93 58.10 8.9 10.4 9.5 9.9 24.6 10.8 10.3 -.4 -.5 .0 -.2 .0 -.2 -.4 1981... 62.71 60.49 79.77 89.92 95.32 61.42 63.36 9.3 8.8 9.3 7.3 5.4 9.8 9.1 -.1 -.1 .0 .0 .0 .0 -.1 1982... 66.51 63.79 83.91 90.23 92.10 65.52 66.94 6.1 5.5 5.2 .3 -3.4 6.7 5.7 -.2 -.3 -.1 -.2 .0 .0 -.2 1983... 69.23 66.63 83.73 90.76 88.65 68.21 69.37 4.1 4.5 -.2 .6 -3.7 4.1 3.6 -.2 .0 .0 .0 .0 -.4 -.2 1984... 71.80 69.06 84.40 91.64 87.89 71.74 71.78 3.7 3.7 .8 1.0 -.9 5.2 3.5 -.1 -.1 .0 -.1 -.1 .2 .0 1985... 74.05 71.42 85.30 89.16 85.02 73.91 73.87 3.1 3.4 1.1 -2.7 -3.3 3.0 2.9 -.3 -.3 .0 .0 .0 -.6 -.3 1986... 75.67 73.13 87.19 87.75 85.01 75.20 75.52 2.2 2.4 2.2 -1.6 .0 1.7 2.2 -.4 -.4 -.3 -.2 .0 -.4 -.4 1987... 77.84 75.81 88.86 89.92 90.02 77.31 77.94 2.9 3.7 1.9 2.5 5.9 2.8 3.2 -.2 -.1 -.3 -.3 .0 -.2 -.2 1988... 80.46 78.73 90.96 94.66 94.46 79.39 80.57 3.4 3.9 2.4 5.3 4.9 2.7 3.4 -.3 -.3 -.4 -.2 .1 .1 -.2 1989... 83.56 82.22 93.22 96.48 96.87 81.99 83.71 3.9 4.4 2.5 1.9 2.5 3.3 3.9 -.3 -.5 -.3 -.1 -.1 .1 -.3 1990... 86.84 86.02 95.08 97.13 99.43 85.27 87.14 3.9 4.6 2.0 .7 2.6 4.0 4.1 -.5 -.5 -.4 -.1 .0 -.3 -.4 1991... 89.76 89.03 96.46 98.20 98.93 88.07 89.90 3.4 3.5 1.5 1.1 -.5 3.3 3.2 -.5 -.7 .1 -.5 -.2 -.3 -.5 1992... 91.70 91.44 96.32 97.66 99.09 90.06 91.90 2.2 2.7 -.1 -.6 .2 2.3 2.2 -.6 -.6 -.4 -.3 .2 -.3 -.6 1993... 94.17 93.94 97.70 97.94 98.18 92.48 94.24 2.7 2.7 1.4 .3 -.9 2.7 2.5 .1 .0 -.1 .2 .3 .2 .0 1994... 96.14 95.86 99.11 99.07 99.12 94.89 96.18 2.1 2.0 1.4 1.2 1.0 2.6 2.1 -.3 -.4 -.4 .0 .4 .3 -.2 1995... 98.19 98.01 100.29 101.38 101.83 97.59 98.28 2.1 2.2 1.2 2.3 2.7 2.8 2.2 -.2 -.1 -.2 .2 .5 -.3 -.1 1996... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 1.8 2.0 -.3 -1.4 -1.8 2.5 1.7 -.1 .0 .0 .3 .4 .0 -.1 1997... 101.66 101.67 99.84 98.23 96.45 101.78 101.39 1.7 1.7 -.2 -1.8 -3.6 1.8 1.4 -.2 -.2 .1 .2 .1 -.4 -.2 1998... 102.86 102.63 98.96 95.95 91.31 103.34 102.14 1.2 .9 -.9 -2.3 -5.3 1.5 .7 .2 .1 .4 -.1 .0 .2 .1 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- GDP Gross domestic product. PCE Personal consumption expenditures. 1. Government consumption expenditures and gross investment. 2. Revised percent change less the previously published percent change. Table 7.--Real Gross Domestic Product: Percent Change From Quarter One Year Ago --------------------------------------------------------------------------------------------------------------------------------------- I 94 II 94 III 94 IV 94 I 95 II 95 III 95 IV 95 I 96 II 96 III 96 IV 96 --------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP).... 3.3 4.2 4.4 4.2 3.6 2.4 2.6 2.2 2.6 4.1 3.8 4.2 Personal consumption expenditures...... 3.9 3.9 3.5 3.6 3.0 3.2 3.2 2.8 3.3 3.4 3.2 3.3 Durable goods........................ 10.4 7.5 6.3 6.4 4.3 4.7 5.9 3.7 5.5 7.5 4.6 5.0 Nondurable goods..................... 3.9 3.7 3.7 4.1 3.3 3.2 2.7 2.5 2.6 2.9 3.1 3.2 Services............................. 2.7 3.3 2.9 2.9 2.6 2.8 2.9 2.8 3.2 2.9 2.9 3.0 Gross private domestic investment...... 9.6 15.7 14.3 13.3 9.9 .9 1.6 .2 .9 9.3 14.5 11.4 Fixed investment..................... 9.1 10.1 9.6 7.7 8.6 5.3 5.3 5.1 5.7 9.9 11.2 10.4 Nonresidential..................... 8.8 8.5 9.2 9.2 12.0 10.5 9.3 7.5 6.8 9.1 11.9 12.1 Structures....................... -2.7 2.7 2.3 1.1 7.7 4.0 4.2 3.3 3.7 4.9 6.9 12.8 Equipment and software........... 13.1 10.6 11.7 12.0 13.5 12.8 11.1 8.9 7.9 10.6 13.7 11.8 Residential........................ 10.0 14.5 10.7 4.0 -.2 -7.8 -4.8 -1.5 2.6 12.2 9.3 5.6 Change in private inventories........ ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services...... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports.............................. 5.2 7.5 12.4 10.6 12.1 8.9 10.8 9.7 8.5 9.1 5.6 9.9 Goods.............................. 5.2 7.6 14.5 11.4 15.0 11.3 11.6 10.0 9.0 8.8 7.0 10.1 Services........................... 5.3 7.3 7.6 8.4 5.3 3.2 8.8 9.0 7.2 9.8 2.2 9.4 Imports.............................. 10.1 11.7 13.8 12.2 12.4 9.3 6.5 5.0 5.5 7.2 10.5 11.2 Goods.............................. 10.4 12.6 15.6 14.3 14.1 10.6 7.1 4.9 6.1 7.7 11.2 12.3 Services........................... 8.5 7.6 5.7 1.8 4.6 2.8 3.5 5.5 2.4 4.7 6.9 5.3 Government consumption expenditures and gross investment.................. -.6 -.6 1.4 .2 1.4 1.7 -.5 -.8 -.2 1.2 .8 2.7 Federal.............................. -5.0 -4.7 -1.0 -3.7 -1.2 -.2 -4.0 -5.3 -2.8 -.7 -2.0 2.0 National defense................... -6.8 -5.2 -1.1 -5.9 -1.7 -2.0 -6.3 -4.7 -2.9 -1.1 -2.2 .8 Nondefense......................... -.8 -3.7 -.7 1.2 -.2 3.9 1.0 -6.4 -2.5 .0 -1.7 4.6 State and local...................... 2.4 2.3 3.0 2.8 3.1 2.9 1.9 2.1 1.5 2.4 2.6 3.1 Addenda: Final sales of domestic product...... 3.2 3.4 3.7 3.3 3.4 3.1 3.2 3.0 3.3 4.1 3.3 4.0 Gross domestic purchases............. 3.8 4.7 4.6 4.4 3.8 2.5 2.3 1.7 2.3 3.9 4.4 4.4 Final sales to domestic purchasers.......................... 3.8 3.9 4.0 3.6 3.5 3.2 2.8 2.5 3.0 4.0 3.9 4.2 Gross national product............... 3.1 4.1 4.2 4.2 3.6 2.5 2.6 2.3 2.6 3.9 3.8 4.1 Real disposable personal income...... 2.0 2.3 3.0 3.0 4.2 2.4 2.4 1.7 2.0 2.6 3.1 2.8 Gross domestic purchases price index............................... 2.0 1.9 2.2 2.1 2.4 2.4 2.0 2.0 1.9 1.7 1.7 1.7 GDP price index...................... 2.2 2.0 2.1 2.0 2.2 2.2 2.1 2.1 1.9 1.8 1.8 1.7 --------------------------------------------------------------------------------------------------------------------------------------- Table 7.--Real Gross Domestic Product: Percent Change From Quarter One Year Ago--Continued ------------------------------------------------------------------------------------------------------------------------------- I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 III 99 ------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP).... 4.7 4.3 4.7 4.3 4.7 4.0 3.9 4.6 3.9 3.8 4.1 Personal consumption expenditures...... 3.7 3.0 4.1 4.2 4.3 5.4 4.7 5.1 5.3 5.0 5.1 Durable goods........................ 6.7 3.1 8.4 8.4 9.8 13.2 9.2 13.0 11.9 11.4 12.1 Nondurable goods..................... 3.6 2.4 3.3 2.4 2.8 4.6 3.8 5.0 5.7 4.9 5.2 Services............................. 3.2 3.3 3.7 4.2 4.0 4.3 4.3 3.6 3.8 3.9 3.7 Gross private domestic investment...... 13.2 13.0 9.1 11.0 15.4 8.5 11.0 11.9 5.0 5.7 6.4 Fixed investment..................... 9.3 8.1 8.6 8.1 11.8 12.8 10.2 12.7 9.2 7.8 9.6 Nonresidential..................... 11.2 10.8 11.3 9.6 13.6 14.2 10.1 13.1 8.6 7.4 11.2 Structures....................... 12.1 8.2 9.1 4.7 4.2 7.1 2.5 2.9 -.1 -3.1 -2.7 Equipment and software........... 10.8 11.6 12.1 11.3 17.1 16.7 12.7 16.8 11.7 11.0 15.9 Residential........................ 4.2 .6 1.0 3.7 6.4 8.6 10.5 11.3 11.0 9.0 5.2 Change in private inventories........ ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services...... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports.............................. 11.6 14.0 16.1 9.4 6.7 1.8 -1.4 1.9 .9 2.9 6.4 Goods.............................. 12.5 16.1 17.4 12.2 7.7 .9 -1.8 1.8 .1 3.5 7.2 Services........................... 9.6 9.0 12.9 3.0 4.3 3.8 -.4 2.3 2.9 1.6 4.6 Imports.............................. 12.3 13.7 14.5 14.2 13.9 12.5 9.4 10.8 10.3 10.7 13.7 Goods.............................. 13.0 14.4 15.0 14.3 14.2 12.4 9.4 11.3 11.0 11.4 15.3 Services........................... 8.9 10.0 12.1 13.6 12.7 12.9 9.4 8.5 7.3 7.1 5.8 Government consumption expenditures and gross investment.................. 2.3 1.9 2.9 2.2 1.5 1.6 1.5 2.2 3.8 2.6 3.1 Federal.............................. -1.0 -.7 1.0 .2 -1.6 -1.2 -1.4 .6 3.1 .8 2.1 National defense................... -3.8 -3.3 -1.3 -1.3 -3.0 -2.6 -.9 -1.1 2.6 -.7 .0 Nondefense......................... 4.8 4.7 5.6 3.3 .9 1.5 -2.3 3.8 4.0 3.5 6.3 State and local...................... 4.3 3.4 4.0 3.4 3.3 3.2 3.2 3.2 4.2 3.6 3.7 Addenda: Final sales of domestic product...... 4.1 3.5 4.6 3.8 4.1 4.6 3.7 4.7 4.6 4.1 4.6 Gross domestic purchases............. 4.9 4.4 4.7 4.9 5.6 5.2 5.2 5.7 5.0 4.7 5.0 Final sales to domestic purchasers.......................... 4.3 3.6 4.6 4.4 5.0 5.9 5.0 5.8 5.7 5.1 5.5 Gross national product............... 4.4 4.2 4.6 4.1 4.7 3.8 3.6 4.4 3.7 3.6 ..... Real disposable personal income...... 3.2 3.7 3.5 4.1 4.0 3.9 4.1 4.2 4.3 4.1 3.6 Gross domestic purchases price index............................... 1.6 1.5 1.3 1.1 .7 .8 .8 .7 1.1 1.4 1.5 GDP price index...................... 1.7 1.8 1.6 1.6 1.3 1.2 1.2 1.1 1.3 1.4 1.3 ------------------------------------------------------------------------------------------------------------------------------- Table 8.--Relation of Gross Domestic Product, Gross National Product, and National Income [Billions of dollars; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 I 94 II 94 III 94 IV 94 I 95 II 95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product............... 4,742.5 5,108.3 5,489.1 5,803.2 5,986.2 6,318.9 6,642.3 7,054.3 7,400.5 7,813.2 8,300.8 8,759.9 6,887.8 7,015.7 7,096.0 7,217.7 7,297.5 7,342.6 Plus: Income receipts from the rest of the world.......... 122.9 151.8 177.2 188.3 167.7 151.1 154.4 184.3 232.3 245.6 282.6 285.3 164.0 175.2 191.1 206.8 224.2 234.5 Less: Income payments to the rest of the world............... 109.2 133.4 156.8 159.3 143.0 127.6 130.1 167.5 211.9 227.5 278.4 295.2 143.3 158.5 176.0 191.9 202.8 209.2 Equals: Gross national product....... 4,756.2 5,126.8 5,509.4 5,832.2 6,010.9 6,342.3 6,666.7 7,071.1 7,420.9 7,831.2 8,305.0 8,750.0 6,908.5 7,032.4 7,111.1 7,232.6 7,318.9 7,367.9 Less: Consumption of fixed capital... 587.4 628.9 678.7 712.5 749.1 788.7 813.6 875.7 912.2 956.4 1,009.7 1,066.9 916.4 849.4 862.1 874.8 890.2 904.7 Less: Indirect business tax and nontax liability.................... 369.3 392.6 420.7 447.3 482.3 510.6 540.1 575.3 594.6 620.0 645.8 677.0 565.3 572.2 578.7 584.9 589.3 594.1 Less: Business transfer payments..... 24.2 25.3 25.8 26.1 25.9 28.1 27.8 30.8 33.5 34.4 36.9 38.1 29.5 30.3 31.2 32.1 33.0 33.1 Less: Statistical discrepancy........ 3.3 -42.2 16.3 30.6 19.6 43.7 63.8 58.5 26.5 32.8 -3.2 -47.6 52.7 81.3 54.6 45.3 53.7 24.9 Plus: Subsidies less current surplus of government enterprises... 30.1 27.4 22.6 25.3 21.5 22.4 29.6 25.2 22.2 22.6 19.0 20.8 27.6 25.1 23.6 24.3 21.8 22.0 Equals: National income.............. 3,802.0 4,149.6 4,390.6 4,640.9 4,755.5 4,993.7 5,251.1 5,556.1 5,876.2 6,210.2 6,634.9 7,036.4 5,372.1 5,524.3 5,608.2 5,719.7 5,774.4 5,833.1 Compensation of employees.......... 2,755.6 2,973.8 3,151.0 3,351.0 3,454.9 3,644.8 3,814.4 4,016.2 4,202.5 4,395.6 4,675.7 5,011.2 3,943.5 3,994.9 4,032.8 4,093.6 4,142.7 4,178.8 Wage and salary accruals......... 2,270.2 2,452.7 2,596.8 2,754.6 2,824.2 2,966.8 3,091.6 3,254.3 3,441.1 3,630.1 3,884.7 4,189.5 3,190.2 3,233.4 3,267.7 3,325.9 3,379.6 3,417.2 Supplements to wages and salaries........................ 485.4 521.1 554.2 596.4 630.7 677.9 722.8 761.9 761.4 765.4 791.0 821.7 753.3 761.5 765.1 767.7 763.1 761.6 Proprietors' income with inventory valuation and capital consumption adjustments........... 303.9 338.8 361.8 381.0 384.2 434.3 461.8 476.6 497.7 544.7 578.6 606.1 468.4 479.5 475.8 482.5 488.6 491.4 Rental income of persons with capital consumption adjustment.... 35.8 44.1 40.5 49.1 56.4 63.3 90.9 110.3 117.9 129.7 130.2 137.4 98.0 112.0 116.2 115.2 116.9 115.1 Corporate profits with inventory valuation and capital consumption adjustments........... 345.3 403.5 394.2 407.4 430.2 451.9 509.7 572.5 668.3 753.9 837.9 846.1 497.6 568.3 597.9 626.0 629.4 654.9 Net interest....................... 361.5 389.4 443.1 452.4 429.8 399.5 374.3 380.5 389.8 386.3 412.5 435.7 364.6 369.6 385.4 402.5 396.8 392.8 Addendum: Gross domestic income.............. 4,739.1 5,150.5 5,472.7 5,772.7 5,966.6 6,275.2 6,578.6 6,995.8 7,374.0 7,780.3 8,303.9 8,807.5 6,835.1 6,934.4 7,041.4 7,172.4 7,243.8 7,317.7 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Table 8.--Relation of Gross Domestic Product, Gross National Product, and National Income--Continued [Billions of dollars; quarters seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- III 95 IV 95 I 96 II 96 III 96 IV 96 I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 III 99 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product............... 7,432.8 7,529.3 7,629.6 7,782.7 7,859.0 7,981.4 8,125.9 8,259.5 8,364.5 8,453.0 8,610.6 8,683.7 8,797.9 8,947.6 9,072.7 9,146.2 9,276.3 Plus: Income receipts from the rest of the world.......... 231.6 238.7 239.1 237.7 245.6 259.8 268.9 284.9 290.9 285.7 291.1 292.9 276.4 280.8 283.8 296.1 ..... Less: Income payments to the rest of the world............... 220.4 215.3 212.3 220.0 234.1 243.5 263.7 275.4 288.9 285.5 288.0 292.9 302.0 297.9 298.2 310.4 ..... Equals: Gross national product....... 7,444.1 7,552.7 7,656.5 7,800.3 7,870.5 7,997.7 8,131.1 8,269.1 8,366.5 8,453.3 8,613.7 8,683.7 8,772.2 8,930.5 9,058.2 9,131.9 ..... Less: Consumption of fixed capital... 916.3 937.7 937.9 948.3 962.8 976.6 989.1 1,002.1 1,016.6 1,031.0 1,042.0 1,056.5 1,075.2 1,094.0 1,108.8 1,126.3 1,158.7 Less: Indirect business tax and nontax liability.................... 593.6 601.3 606.8 613.2 615.7 644.3 632.5 643.0 652.0 655.4 663.5 670.1 676.6 697.8 696.6 706.7 719.5 Less: Business transfer payments..... 33.9 34.0 33.6 34.3 34.6 35.2 35.9 36.7 37.3 37.7 37.6 38.0 38.2 38.6 38.8 39.3 39.4 Less: Statistical discrepancy........ 3.1 24.4 34.4 49.6 25.1 22.3 20.9 23.9 -17.5 -40.0 1.4 -41.5 -87.9 -62.4 -99.4 -135.5 ..... Plus: Subsidies less current surplus of government enterprises... 22.5 22.5 23.3 22.9 22.0 22.2 20.9 18.5 16.8 19.9 18.0 17.1 16.9 31.4 21.0 27.9 17.5 Equals: National income.............. 5,919.6 5,977.8 6,067.1 6,177.8 6,254.2 6,341.6 6,473.6 6,581.9 6,694.9 6,789.1 6,887.2 6,977.6 7,087.1 7,193.8 7,334.5 7,423.1 ..... Compensation of employees.......... 4,224.3 4,264.1 4,297.4 4,367.8 4,427.8 4,489.4 4,566.1 4,631.3 4,705.2 4,800.3 4,889.4 4,967.0 5,053.6 5,134.7 5,217.7 5,287.1 5,371.2 Wage and salary accruals......... 3,463.6 3,503.8 3,537.4 3,604.6 3,660.9 3,717.6 3,785.3 3,844.3 3,911.3 3,997.9 4,079.6 4,149.7 4,227.9 4,300.8 4,371.5 4,432.6 4,507.2 Supplements to wages and salaries........................ 760.7 760.2 760.0 763.2 766.8 771.8 780.8 787.0 793.9 802.4 809.8 817.3 825.7 833.9 846.2 854.5 863.9 Proprietors' income with inventory valuation and capital consumption adjustments........... 499.7 511.1 525.9 546.6 553.5 553.0 569.1 575.1 582.9 587.3 586.6 594.2 606.4 637.1 639.9 655.3 653.7 Rental income of persons with capital consumption adjustment.... 116.6 123.2 128.4 129.0 130.1 131.4 132.4 132.0 129.4 126.7 129.5 133.9 139.3 147.0 148.6 148.8 140.5 Corporate profits with inventory valuation and capital consumption adjustments........... 692.4 696.4 737.2 748.9 754.8 774.5 803.6 831.6 862.8 853.5 858.3 847.9 843.8 834.3 882.0 875.5 ..... Net interest....................... 386.7 383.0 378.2 385.5 388.1 393.3 402.3 411.8 414.6 421.2 423.3 434.6 444.0 440.8 446.3 456.4 ..... Addendum: Gross domestic income.............. 7,429.7 7,504.9 7,595.2 7,733.1 7,833.9 7,959.1 8,105.0 8,235.7 8,382.0 8,493.0 8,609.1 8,725.2 8,885.8 9,009.9 9,172.0 9,281.7 9,411.8 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Table 9.--Personal Income and Its Disposition [Billions of dollars; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 I 94 II 94 III 94 IV 94 I 95 II 95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income\1\................... 3,962.5 4,272.1 4,599.8 4,903.2 5,085.4 5,390.4 5,610.0 5,888.0 6,200.9 6,547.4 6,951.1 7,358.9 5,713.7 5,860.8 5,935.3 6,042.4 6,109.9 6,163.3 Wage and salary disbursements...... 2,270.2 2,452.7 2,596.8 2,754.6 2,824.2 2,982.6 3,085.2 3,236.7 3,424.7 3,626.5 3,888.9 4,186.0 3,133.8 3,228.7 3,263.0 3,321.2 3,363.2 3,400.9 Other labor income................. 319.1 336.5 360.5 390.0 415.6 449.5 482.8 507.5 497.0 490.0 500.9 515.7 503.9 508.1 509.5 508.4 502.2 498.5 Proprietors' income with inventory valuation and capital consumption adjustments........... 303.9 338.8 361.8 381.0 384.2 434.3 461.8 476.6 497.7 544.7 578.6 606.1 468.4 479.5 475.8 482.5 488.6 491.4 Farm............................. 29.0 26.0 32.2 31.1 26.4 32.7 30.1 31.9 22.2 34.3 29.5 25.1 40.6 33.9 27.7 25.5 21.4 19.6 Nonfarm.......................... 274.8 312.7 329.6 349.9 357.8 401.7 431.7 444.6 475.5 510.5 549.1 581.0 427.9 445.6 448.1 457.0 467.2 471.8 Rental income of persons with capital consumption adjustment.... 35.8 44.1 40.5 49.1 56.4 63.3 90.9 110.3 117.9 129.7 130.2 137.4 98.0 112.0 116.2 115.2 116.9 115.1 Personal dividend income........... 112.1 129.4 154.8 165.4 178.3 185.3 203.0 234.7 254.0 297.4 333.4 348.3 219.8 229.5 240.3 249.2 248.4 250.8 Personal interest income........... 609.7 650.5 736.5 772.4 771.8 750.1 725.5 742.4 792.5 810.6 854.9 897.8 714.4 727.1 750.2 778.0 784.8 791.9 Transfer payments to persons....... 468.6 496.9 540.4 594.4 669.9 751.7 798.6 833.9 885.9 928.8 962.4 983.6 824.1 828.7 835.5 847.1 870.5 881.9 Less: Personal contributions for social insurance.................. 156.8 176.8 191.6 203.7 215.1 226.6 237.8 254.1 268.8 280.4 298.1 315.9 248.8 252.9 255.3 259.2 264.7 267.3 Less: Personal tax and nontax payments............................ 503.0 519.7 583.5 609.6 610.5 635.8 674.6 722.6 778.3 869.7 968.3 1,072.6 695.4 732.2 724.3 738.5 751.8 780.5 Equals: Disposable personal income... 3,459.5 3,752.4 4,016.3 4,293.6 4,474.8 4,754.6 4,935.3 5,165.4 5,422.6 5,677.7 5,982.8 6,286.2 5,018.3 5,128.6 5,211.0 5,303.9 5,358.1 5,382.8 Less: Personal outlays............... 3,206.7 3,460.1 3,714.4 3,959.3 4,103.2 4,340.9 4,584.5 4,849.9 5,120.2 5,405.6 5,711.7 6,056.6 4,744.0 4,809.1 4,886.9 4,959.7 5,012.1 5,091.3 Equals: Personal saving.............. 252.8 292.3 301.8 334.3 371.7 413.7 350.8 315.5 302.4 272.1 271.1 229.7 274.3 319.5 324.1 344.2 346.0 291.5 Addenda: Disposable personal income, billions of chained (1996) dollars\2\................. 4,563.1 4,766.0 4,885.0 4,991.3 5,026.2 5,199.8 5,253.6 5,388.3 5,533.0 5,677.7 5,884.7 6,125.1 5,283.5 5,371.7 5,412.3 5,485.5 5,507.8 5,502.4 Personal saving as a percentage of disposable personal income..... 7.3 7.8 7.5 7.8 8.3 8.7 7.1 6.1 5.6 4.8 4.5 3.7 5.5 6.2 6.2 6.5 6.5 5.4 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- See footnotes at the end of the table. Table 9.--Personal Income and Its Disposition--Continued [Billions of dollars; quarters seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- III 95 IV 95 I 96 II 96 III 96 IV 96 I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 III 99 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Personal income\1\................... 6,225.9 6,304.6 6,405.1 6,509.4 6,597.1 6,677.9 6,807.6 6,900.6 6,993.5 7,102.7 7,194.7 7,296.3 7,413.6 7,530.8 7,630.2 7,732.6 7,825.9 Wage and salary disbursements...... 3,447.2 3,487.5 3,533.8 3,601.0 3,657.3 3,713.9 3,789.5 3,848.5 3,915.4 4,002.1 4,076.2 4,146.2 4,224.4 4,297.3 4,371.5 4,432.6 4,507.2 Other labor income................. 495.0 492.1 490.0 489.1 489.6 491.4 496.2 499.1 502.4 505.8 509.5 513.5 517.7 522.1 528.0 533.0 538.4 Proprietors' income with inventory valuation and capital consumption adjustments........... 499.7 511.1 525.9 546.6 553.5 553.0 569.1 575.1 582.9 587.3 586.6 594.2 606.4 637.1 639.9 655.3 653.7 Farm............................. 20.5 27.3 31.1 36.3 38.0 31.7 32.5 30.2 28.9 26.3 17.5 18.7 22.9 41.1 32.5 34.1 20.3 Nonfarm.......................... 479.2 483.9 494.8 510.3 515.5 521.4 536.6 544.9 554.0 561.0 569.1 575.5 583.6 596.0 607.5 621.2 633.4 Rental income of persons with capital consumption adjustment.... 116.6 123.2 128.4 129.0 130.1 131.4 132.4 132.0 129.4 126.7 129.5 133.9 139.3 147.0 148.6 148.8 140.5 Personal dividend income........... 251.8 264.8 285.9 290.4 302.4 310.9 320.3 330.2 338.5 344.4 346.1 347.0 348.0 351.9 356.1 361.2 367.0 Personal interest income........... 794.7 798.7 797.2 805.9 814.6 824.6 835.7 850.6 859.7 873.6 880.1 895.3 909.3 906.4 907.4 920.5 933.4 Transfer payments to persons....... 891.1 900.1 918.7 926.3 931.9 938.3 956.4 960.7 964.9 967.7 976.7 980.0 986.5 991.0 1,007.8 1,013.6 1,022.2 Less: Personal contributions for social insurance.................. 270.2 272.7 274.7 278.8 282.3 285.7 292.0 295.6 299.7 304.9 310.0 313.8 318.0 322.0 328.9 332.3 336.5 Less: Personal tax and nontax payments............................ 781.6 799.5 830.7 872.5 877.3 898.1 934.2 954.4 978.6 1,006.0 1,031.2 1,058.0 1,088.3 1,113.0 1,124.8 1,139.4 1,160.0 Equals: Disposable personal income... 5,444.4 5,505.1 5,574.4 5,637.0 5,719.8 5,779.7 5,873.4 5,946.2 6,014.9 6,096.7 6,163.5 6,238.3 6,325.3 6,417.8 6,505.4 6,593.2 6,665.9 Less: Personal outlays............... 5,158.4 5,218.8 5,292.2 5,383.9 5,433.7 5,512.6 5,609.9 5,650.2 5,759.4 5,827.4 5,914.7 6,020.9 6,100.5 6,190.3 6,310.3 6,425.2 6,524.6 Equals: Personal saving.............. 285.9 286.3 282.2 253.1 286.1 267.1 263.4 296.1 255.5 269.3 248.9 217.5 224.8 227.5 195.1 168.0 141.3 Addenda: Disposable personal income, billions of chained (1996) dollars\2\................. 5,541.0 5,580.8 5,617.6 5,647.2 5,710.9 5,735.3 5,798.0 5,857.9 5,909.8 5,973.0 6,031.5 6,087.5 6,154.6 6,226.6 6,289.3 6,339.1 6,379.1 Personal saving as a percentage of disposable personal income..... 5.3 5.2 5.1 4.5 5.0 4.6 4.5 5.0 4.2 4.4 4.0 3.5 3.6 3.5 3.0 2.5 2.1 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Personal income is also equal to national income less corporate profits with inventory valuation and capital consumption adjustments, net interest, contributions for social insurance, and wage accruals less disbursements, plus personal interest income, personal dividend income, government transfer payments to persons, and business transfer payments to persons. 2. Equals disposable personal income deflated by the implicit price deflator for personal consumption expenditures. Table 10A.--Corporate Profits [Billions of dollars; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 I 94 II 94 III 94 IV 94 I 95 II 95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Corporate profits with inventory valuation and capital consumption adjustments......................... 345.3 403.5 394.2 407.4 430.2 451.9 509.7 572.5 668.3 753.9 837.9 846.1 497.6 568.3 597.9 626.0 629.4 654.9 Profits before tax................. 314.6 381.9 376.7 401.5 416.1 451.6 510.4 573.4 668.5 726.3 795.9 781.9 514.8 562.7 595.4 620.7 643.2 665.3 Profits tax liability............ 127.1 137.2 141.5 140.6 133.6 143.1 165.4 186.7 211.0 223.6 238.3 240.2 165.4 182.8 194.4 204.1 203.1 208.8 Profits after tax................ 187.5 244.8 235.3 260.9 282.6 308.4 345.0 386.7 457.5 502.7 557.6 541.7 349.4 379.8 401.0 416.6 440.1 456.6 Dividends...................... 112.2 129.6 155.0 165.6 178.4 185.5 203.1 234.9 254.2 297.7 333.7 348.6 220.0 229.7 240.5 249.4 248.6 251.1 Undistributed profits.......... 75.3 115.2 80.2 95.3 104.1 122.9 141.9 151.8 203.3 205.0 223.9 193.1 129.4 150.1 160.5 167.1 191.5 205.5 Inventory valuation adjustment..... -16.2 -22.2 -16.3 -12.9 4.9 -2.8 -4.0 -12.4 -18.3 3.1 7.4 20.9 -8.3 -10.2 -15.7 -15.6 -32.5 -28.2 Capital consumption adjustment..... 46.9 43.8 33.9 18.8 9.1 3.1 3.3 11.5 18.1 24.4 34.6 43.3 -9.0 15.8 18.2 20.9 18.8 17.7 Addenda: Corporate profits after tax with inventory valuation and capital consumption adjustments........... 218.2 266.4 252.8 266.8 296.6 308.7 344.3 385.8 457.3 530.2 599.6 605.8 332.1 385.5 403.6 421.9 426.4 446.1 Net cash flow with inventory valuation and capital consumption adjustments........... 428.1 482.5 469.8 493.5 530.5 552.3 590.5 634.3 715.7 776.1 845.3 876.5 604.8 628.4 643.6 660.4 675.8 703.5 Undistributed profits with inventory valuation and capital consumption adjustments..................... 106.0 136.8 97.8 101.2 118.2 123.2 141.2 150.8 203.1 232.5 265.9 257.2 112.1 155.8 163.1 172.4 177.8 195.0 Consumption of fixed capital..... 322.2 345.7 372.1 392.3 412.3 429.1 449.3 483.4 512.6 543.6 579.4 619.2 492.6 472.7 480.6 487.9 498.1 508.5 Less: Inventory valuation adjustment........................ -16.2 -22.2 -16.3 -12.9 4.9 -2.8 -4.0 -12.4 -18.3 3.1 7.4 20.9 -8.3 -10.2 -15.7 -15.6 -32.5 -28.2 Equals: Net cash flow.............. 444.4 504.7 486.2 506.4 525.5 555.1 594.5 646.7 734.0 773.1 838.0 855.5 613.0 638.6 659.3 676.0 708.4 731.7 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Table 10A.--Corporate Profits--Continued [Billions of dollars; quarters seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- III 95 IV 95 I 96 II 96 III 96 IV 96 I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 III 99 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Corporate profits with inventory valuation and capital consumption adjustments......................... 692.4 696.4 737.2 748.9 754.8 774.5 803.6 831.6 862.8 853.5 858.3 847.9 843.8 834.3 882.0 875.5 ..... Profits before tax................. 683.5 681.8 713.2 726.3 724.9 741.0 763.3 786.5 822.1 811.6 788.9 792.0 780.1 766.7 818.1 835.8 ..... Profits tax liability............ 218.7 213.3 219.7 225.3 224.0 225.6 228.9 233.2 246.8 244.1 239.9 241.1 244.3 235.6 248.0 254.4 ..... Profits after tax................ 464.8 468.5 493.5 501.0 500.9 515.4 534.4 553.3 575.3 567.4 548.9 550.9 535.8 531.0 570.1 581.4 ..... Dividends...................... 252.1 265.0 286.2 290.7 302.7 311.3 320.6 330.6 338.8 344.8 346.5 347.3 348.4 352.2 356.4 361.5 ..... Undistributed profits.......... 212.7 203.4 207.3 210.3 198.2 204.1 213.8 222.7 236.5 222.6 202.5 203.6 187.4 178.8 213.7 219.9 ..... Inventory valuation adjustment..... -9.8 -2.6 2.1 -1.7 4.7 7.1 9.3 11.2 4.9 4.0 29.5 13.6 19.8 20.8 13.3 -13.6 ..... Capital consumption adjustment..... 18.8 17.2 21.9 24.2 25.2 26.4 31.0 33.9 35.7 38.0 39.9 42.4 43.9 46.9 50.6 53.2 ..... Addenda: Corporate profits after tax with inventory valuation and capital consumption adjustments........... 473.7 483.1 517.6 523.6 530.8 548.9 574.7 598.4 616.0 609.4 618.3 606.8 599.5 598.7 634.0 621.0 ..... Net cash flow with inventory valuation and capital consumption adjustments........... 738.2 745.4 762.3 771.3 775.8 795.1 819.6 842.1 861.3 858.2 874.1 872.1 876.1 883.6 923.4 916.7 ..... Undistributed profits with inventory valuation and capital consumption adjustments..................... 221.6 218.1 231.3 232.9 228.1 237.7 254.1 267.9 277.2 264.6 271.9 259.5 251.1 246.5 277.6 259.5 ..... Consumption of fixed capital..... 516.6 527.3 531.0 538.4 547.7 557.4 565.6 574.3 584.1 593.6 602.2 612.6 625.0 637.1 645.8 657.2 ..... Less: Inventory valuation adjustment........................ -9.8 -2.6 2.1 -1.7 4.7 7.1 9.3 11.2 4.9 4.0 29.5 13.6 19.8 20.8 13.3 -13.6 ..... Equals: Net cash flow.............. 748.1 747.9 760.2 772.9 771.1 788.0 810.3 830.9 856.4 854.3 844.6 858.5 856.3 862.8 910.1 930.3 ..... ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Table 10B.--Corporate Profits: Percent Change From Preceding Period Table 10B.--Corporate Profits: Percent Change From Preceding Period [Quarters are at quarterly rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 I 94 II 94 III 94 IV 94 I 95 II 95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------- Corporate profits with inventory valuation and capital consumption adjustments......................... 15.3 16.9 -2.3 3.3 5.6 5.1 12.8 12.3 16.7 12.8 11.1 1.0 -10.6 14.2 5.2 4.7 .5 4.0 Profits before tax................. 29.3 21.4 -1.4 6.6 3.6 8.5 13.0 12.3 16.6 8.7 9.6 -1.8 -6.9 9.3 5.8 4.3 3.6 3.4 Profits tax liability............ 19.3 7.9 3.1 -.6 -5.0 7.2 15.5 12.9 13.0 6.0 6.5 .8 -9.5 10.5 6.3 5.0 -.5 2.8 Profits after tax................ 37.0 30.5 -3.9 10.9 8.3 9.2 11.9 12.1 18.3 9.9 10.9 -2.9 -5.6 8.7 5.6 3.9 5.7 3.7 Dividends...................... 5.6 15.5 19.6 6.8 7.8 4.0 9.5 15.6 8.2 17.1 12.1 4.5 2.2 4.4 4.7 3.7 -.3 1.0 Undistributed profits.......... 145.8 52.9 -30.3 18.8 9.2 18.1 15.4 7.0 33.9 .8 9.2 -13.8 -16.4 16.0 6.9 4.1 14.6 7.3 Inventory valuation adjustment..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Capital consumption adjustment..... -4.3 -6.6 -22.7 -44.6 -51.4 -65.7 7.2 243.2 57.7 34.9 41.7 24.9 -216.0 -275.6 15.1 14.8 -10.3 -5.4 Addenda: Corporate profits after tax with inventory valuation and capital consumption adjustments........... 13.1 22.1 -5.1 5.5 11.2 4.1 11.5 12.0 18.5 15.9 13.1 1.0 -11.2 16.1 4.7 4.5 1.1 4.6 Net cash flow with inventory valuation and capital consumption adjustments........... 9.8 12.7 -2.6 5.0 7.5 4.1 6.9 7.4 12.8 8.4 8.9 3.7 -1.9 3.9 2.4 2.6 2.3 4.1 Undistributed profits with inventory valuation and capital consumption adjustments..................... 22.2 29.1 -28.5 3.5 16.8 4.3 14.6 6.8 34.6 14.5 14.4 -3.3 -29.3 38.9 4.7 5.7 3.1 9.7 Consumption of fixed capital..... 6.2 7.3 7.6 5.4 5.1 4.1 4.7 7.6 6.0 6.0 6.6 6.9 7.6 -4.1 1.7 1.5 2.1 2.1 Less: Inventory valuation adjustment........................ ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Equals: Net cash flow.............. 16.0 13.6 -3.7 4.2 3.8 5.6 7.1 8.8 13.5 5.3 8.4 2.1 -1.2 4.2 3.2 2.5 4.8 3.3 ------------------------------------------------------------------------------------------------------------------------------------------------------------------- Table 10B.--Corporate Profits: Percent Change From Preceding Period--Continued [Quarters are at quarterly rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------ III 95 IV 95 I 96 II 96 III 96 IV 96 I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 III 99 ------------------------------------------------------------------------------------------------------------------------------------------------------------ Corporate profits with inventory valuation and capital consumption adjustments......................... 5.7 .6 5.9 1.6 .8 2.6 3.7 3.5 3.7 -1.1 .6 -1.2 -.5 -1.1 5.7 -.7 ..... Profits before tax................. 2.7 -.2 4.6 1.8 -.2 2.2 3.0 3.0 4.5 -1.3 -2.8 .4 -1.5 -1.7 6.7 2.2 ..... Profits tax liability............ 4.8 -2.5 3.0 2.6 -.6 .7 1.5 1.9 5.8 -1.1 -1.7 .5 1.3 -3.5 5.3 2.6 ..... Profits after tax................ 1.8 .8 5.3 1.5 .0 2.9 3.7 3.5 4.0 -1.4 -3.3 .4 -2.7 -.9 7.4 2.0 ..... Dividends...................... .4 5.1 8.0 1.6 4.1 2.8 3.0 3.1 2.5 1.8 .5 .2 .3 1.1 1.2 1.4 ..... Undistributed profits.......... 3.5 -4.3 1.9 1.5 -5.8 3.0 4.8 4.2 6.2 -5.9 -9.1 .5 -7.9 -4.6 19.5 2.9 ..... Inventory valuation adjustment..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Capital consumption adjustment..... 5.8 -8.5 27.6 10.4 3.9 5.1 17.1 9.5 5.4 6.3 5.1 6.1 3.8 6.7 7.9 5.2 ..... Addenda: Corporate profits after tax with inventory valuation and capital consumption adjustments........... 6.2 2.0 7.1 1.2 1.4 3.4 4.7 4.1 2.9 -1.1 1.5 -1.9 -1.2 -.1 5.9 -2.0 ..... Net cash flow with inventory valuation and capital consumption adjustments........... 4.9 1.0 2.3 1.2 .6 2.5 3.1 2.7 2.3 -.4 1.8 -.2 .5 .9 4.5 -.7 ..... Undistributed profits with inventory valuation and capital consumption adjustments..................... 13.6 -1.6 6.1 .7 -2.1 4.2 6.9 5.4 3.5 -4.6 2.8 -4.5 -3.2 -1.9 12.6 -6.5 ..... Consumption of fixed capital..... 1.6 2.1 .7 1.4 1.7 1.8 1.5 1.5 1.7 1.6 1.4 1.7 2.0 1.9 1.4 1.8 ..... Less: Inventory valuation adjustment........................ ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Equals: Net cash flow.............. 2.2 .0 1.6 1.7 -.2 2.2 2.8 2.5 3.1 -.2 -1.1 1.6 -.3 .8 5.5 2.2 ..... ------------------------------------------------------------------------------------------------------------------------------------------------------------ Table 11.--Corporate Profits by Industry [Billions of dollars; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 I 94 II 94 III 94 IV 94 I 95 II 95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------- Corporate profits with inventory valuation and capital consumption adjustments..................... 345.3 403.5 394.2 407.4 430.2 451.9 509.7 572.5 668.3 753.9 837.9 846.1 497.6 568.3 597.9 626.0 629.4 654.9 Domestic industries.................. 297.2 346.9 330.0 334.7 355.9 383.2 433.0 495.2 576.3 653.0 729.8 746.0 422.4 492.5 519.6 546.4 541.2 558.9 Financial.......................... 50.0 59.4 66.8 77.0 103.8 105.2 108.2 93.2 134.0 143.9 167.0 171.0 66.2 94.3 105.9 106.4 120.6 134.5 Nonfinancial....................... 247.2 287.5 263.2 257.7 252.0 278.0 324.7 402.0 442.3 509.1 562.8 575.0 356.3 398.2 413.7 440.0 420.6 424.4 Rest of the world.................... 48.0 56.7 64.2 72.7 74.3 68.7 76.7 77.2 92.0 100.9 108.1 100.0 75.1 75.9 78.3 79.7 88.2 96.0 Receipts from the rest of the world............................. 59.3 71.7 75.2 79.9 73.7 74.9 89.7 104.5 128.4 140.6 159.7 148.4 96.1 99.3 108.6 113.9 122.3 130.4 Less: Payments to the rest of the world............................. 11.3 15.0 11.0 7.2 -.7 6.2 13.0 27.2 36.3 39.8 51.6 48.4 21.0 23.5 30.2 34.2 34.1 34.5 Corporate profits with inventory valuation adjustment.. 298.4 359.8 360.4 388.6 421.1 448.8 506.4 561.0 650.2 729.4 803.2 802.8 506.6 552.5 579.7 605.1 610.7 637.1 Domestic industries.................. 250.4 303.1 296.1 315.9 346.7 380.1 429.6 483.7 558.2 628.6 695.1 702.8 431.5 476.6 501.4 525.4 522.5 541.1 Financial.......................... 57.1 67.9 76.8 91.6 120.2 124.8 127.9 114.7 154.3 165.3 184.2 191.3 87.5 116.0 127.7 127.8 140.9 154.9 Federal Reserve banks............ 15.7 17.6 20.2 21.4 20.3 17.8 16.1 17.8 22.2 21.8 23.3 24.6 16.1 16.8 18.2 20.0 21.6 22.6 Other............................ 41.4 50.3 56.7 70.2 99.9 107.0 111.7 97.0 132.1 143.5 160.9 166.7 71.4 99.2 109.5 107.8 119.3 132.3 Nonfinancial....................... 193.3 235.2 219.3 224.3 226.5 255.2 301.7 369.0 403.8 463.3 510.9 511.5 344.0 360.6 373.6 397.6 381.5 386.3 Manufacturing.................... 83.1 116.1 105.7 109.2 93.5 93.9 108.4 139.6 166.1 181.2 185.6 168.4 131.3 131.4 140.8 154.8 154.6 160.2 Durable goods.................. 39.3 51.0 48.3 41.6 32.1 37.6 51.8 70.6 77.6 87.0 93.3 95.1 69.3 66.6 68.3 78.2 77.1 73.6 Primary metal industries..... 2.5 6.0 6.2 3.4 1.4 -.2 .2 2.1 6.9 5.4 5.1 5.4 1.2 1.5 2.5 3.5 6.5 7.8 Fabricated metal products.... 5.4 6.4 6.3 6.0 5.2 6.1 7.3 10.9 11.8 14.4 16.7 17.3 10.3 9.8 10.8 12.9 11.6 12.2 Industrial machinery and equipment................... 4.5 9.6 10.7 10.5 4.2 5.9 5.6 7.6 12.9 15.0 13.5 14.6 5.7 7.2 7.5 10.0 11.8 11.7 Electronic and other electric equipment.......... 5.6 7.3 9.0 8.4 9.7 10.1 14.9 22.5 21.4 20.2 22.1 18.2 19.3 20.7 23.9 26.1 22.2 19.6 Motor vehicles and equipment. 3.7 5.7 2.2 -2.2 -5.4 -1.2 5.2 7.3 -.3 3.7 4.9 7.5 13.8 8.6 3.5 3.2 2.0 -1.9 Other........................ 17.6 16.1 13.8 15.6 16.9 17.0 18.7 20.2 24.9 28.4 30.9 32.2 18.9 18.9 20.2 22.7 23.1 24.2 Nondurable goods............... 43.8 65.1 57.4 67.6 61.5 56.3 56.6 69.0 88.5 94.2 92.3 73.3 62.0 64.8 72.5 76.6 77.5 86.6 Food and kindred products.... 11.2 11.8 10.8 14.2 18.0 17.9 16.0 19.5 26.7 21.6 22.1 17.0 18.3 18.1 20.0 21.6 24.2 27.1 Chemicals and allied products.................... 13.9 18.2 17.6 16.3 15.6 15.4 15.3 22.2 26.7 25.5 26.0 20.6 18.8 21.3 22.5 26.1 23.8 27.2 Petroleum and coal products.. -2.6 11.9 5.4 15.4 6.3 -2.0 1.6 -.1 5.5 13.3 16.0 8.3 -1.8 -3.8 2.5 2.5 .9 4.9 Other........................ 21.3 23.2 23.6 21.8 21.6 24.9 23.8 27.5 29.5 33.7 28.2 27.3 26.7 29.3 27.4 26.5 28.5 27.4 Transportation and public utilities....................... 42.0 48.4 43.5 44.4 53.2 58.5 69.6 82.9 85.8 91.4 104.7 109.0 74.1 82.2 84.8 90.5 84.1 83.9 Transportation................. 3.3 7.9 1.2 -.5 2.1 2.2 6.6 10.3 11.4 15.6 18.5 19.4 7.2 9.2 10.9 13.7 10.9 11.6 Communications................. 19.5 19.4 18.2 20.1 23.4 27.7 33.1 36.8 33.7 35.2 47.4 49.3 35.6 37.2 35.7 38.5 34.6 32.6 Electric, gas, and sanitary services...................... 19.2 21.1 24.1 24.8 27.7 28.6 29.8 35.9 40.7 40.6 38.8 40.2 31.2 35.7 38.2 38.3 38.7 39.8 Wholesale trade.................. 17.7 19.6 21.5 19.1 22.0 25.9 28.2 33.1 29.4 42.6 46.8 47.2 30.8 37.0 32.1 32.4 26.2 24.2 Retail trade..................... 23.4 20.6 21.2 21.0 27.7 33.7 39.7 46.6 44.1 52.9 63.7 69.8 42.8 46.4 47.8 49.4 43.2 42.6 Other............................ 27.1 30.4 27.4 30.6 30.0 43.2 55.9 66.8 78.5 95.2 110.1 117.1 65.1 63.7 68.1 70.5 73.4 75.3 Rest of the world.................... 48.0 56.7 64.2 72.7 74.3 68.7 76.7 77.2 92.0 100.9 108.1 100.0 75.1 75.9 78.3 79.7 88.2 96.0 ------------------------------------------------------------------------------------------------------------------------------------------------------------------- Table 11.--Corporate Profits by Industry--Continued [Billions of dollars; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------ III 95 IV 95 I 96 II 96 III 96 IV 96 I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 III 99 ------------------------------------------------------------------------------------------------------------------------------------------------------------ Corporate profits with inventory valuation and capital consumption adjustments..................... 692.4 696.4 737.2 748.9 754.8 774.5 803.6 831.6 862.8 853.5 858.3 847.9 843.8 834.3 882.0 875.5 ..... Domestic industries.................. 606.8 598.2 638.6 652.9 656.3 664.3 701.6 718.6 753.0 745.9 750.5 740.6 757.2 736.0 777.7 772.1 ..... Financial.......................... 146.4 134.6 146.9 148.5 144.9 135.2 158.6 164.9 169.8 174.7 175.5 172.0 168.7 168.0 185.2 177.4 ..... Nonfinancial....................... 460.4 463.6 491.6 504.4 511.4 529.1 543.0 553.7 583.2 571.2 575.0 568.6 588.5 568.0 592.5 594.7 ..... Rest of the world.................... 85.6 98.2 98.7 96.0 98.4 110.3 101.9 113.1 109.8 107.6 107.8 107.4 86.6 98.3 104.3 103.3 ..... Receipts from the rest of the world............................. 127.1 133.5 135.3 135.6 140.1 151.4 155.1 163.1 166.6 153.9 154.9 154.9 137.1 146.8 157.0 164.1 ..... Less: Payments to the rest of the world............................. 41.5 35.3 36.7 39.6 41.7 41.2 53.2 50.1 56.9 46.3 47.1 47.5 50.5 48.5 52.7 60.8 ..... Corporate profits with inventory valuation adjustment.. 673.7 679.2 715.3 724.7 729.6 748.1 772.6 797.7 827.0 815.5 818.4 805.6 799.9 787.4 831.4 822.2 ..... Domestic industries.................. 588.0 581.0 616.6 628.7 631.1 637.8 670.7 684.7 717.3 708.0 710.5 698.2 713.2 689.1 727.1 718.9 ..... Financial.......................... 166.6 154.9 168.6 170.1 166.4 156.0 176.6 181.9 186.5 191.8 194.9 192.2 189.5 188.6 205.3 198.3 ..... Federal Reserve banks............ 22.4 22.1 21.6 21.7 21.8 22.1 22.6 23.0 23.6 24.2 24.5 24.4 24.7 24.7 24.3 24.5 ..... Other............................ 144.1 132.8 147.0 148.4 144.6 133.9 154.0 158.9 162.9 167.7 170.4 167.8 164.8 163.9 180.9 173.7 ..... Nonfinancial....................... 421.4 426.1 448.0 458.5 464.8 481.8 494.0 502.8 530.7 516.1 515.6 506.0 523.7 500.6 521.9 520.6 ..... Manufacturing.................... 173.8 175.6 175.5 181.6 181.8 185.7 179.0 186.6 195.4 181.4 170.8 169.2 171.9 161.7 171.0 167.8 ..... Durable goods.................. 78.7 80.8 81.7 89.3 88.1 88.8 84.1 92.1 104.4 92.6 87.3 89.7 97.2 106.3 100.5 100.7 ..... Primary metal industries..... 6.5 6.7 5.4 4.9 6.0 5.1 4.3 4.9 6.0 5.4 6.1 5.4 5.0 5.0 1.7 1.2 ..... Fabricated metal products.... 11.4 11.8 13.8 12.9 15.2 15.7 15.6 16.2 18.0 17.2 15.1 17.0 19.9 17.0 19.4 19.0 ..... Industrial machinery and equipment................... 13.5 14.6 17.9 15.4 13.5 13.0 9.5 13.6 16.4 14.7 8.8 14.6 15.7 19.4 16.6 18.6 ..... Electronic and other electric equipment.......... 21.8 21.9 17.3 20.5 20.0 22.8 21.7 21.6 24.4 20.6 18.3 16.2 16.9 21.4 20.5 19.6 ..... Motor vehicles and equipment. -.1 -1.1 .7 6.0 6.9 1.1 4.8 3.3 7.4 4.1 7.8 5.7 6.6 9.8 10.7 10.4 ..... Other........................ 25.5 27.0 26.6 29.5 26.4 31.0 28.2 32.5 32.2 30.5 31.2 30.9 33.1 33.7 31.6 32.0 ..... Nondurable goods............... 95.1 94.9 93.8 92.4 93.7 96.9 94.9 94.5 91.1 88.8 83.5 79.5 74.7 55.5 70.5 67.0 ..... Food and kindred products.... 27.8 27.7 22.8 18.9 20.3 24.6 21.8 21.1 21.3 24.5 19.5 20.1 21.3 7.1 17.2 18.6 ..... Chemicals and allied products.................... 28.6 27.3 27.0 26.9 24.7 23.5 25.9 25.6 27.0 25.5 24.6 18.8 19.0 20.0 25.1 20.8 ..... Petroleum and coal products.. 9.4 7.0 8.8 13.1 14.7 16.7 17.3 18.1 15.3 13.1 11.3 11.0 6.8 4.1 -.9 -.3 ..... Other........................ 29.3 32.9 35.2 33.4 34.0 32.2 29.9 29.7 27.4 25.7 28.1 29.5 27.5 24.2 29.0 28.0 ..... Transportation and public utilities....................... 89.1 86.1 88.0 93.6 90.4 93.6 100.1 101.8 108.2 108.8 110.9 105.0 113.0 106.9 111.9 107.9 ..... Transportation................. 11.5 11.7 12.2 16.5 18.4 15.2 18.0 18.6 19.1 18.3 19.0 18.9 20.1 19.7 18.3 17.2 ..... Communications................. 35.3 32.4 32.8 34.3 35.1 38.4 42.0 44.3 52.1 51.2 51.6 47.8 51.2 46.8 52.2 52.5 ..... Electric, gas, and sanitary services...................... 42.3 42.0 43.0 42.7 36.9 40.0 40.1 38.8 37.0 39.3 40.3 38.4 41.7 40.5 41.5 38.2 ..... Wholesale trade.................. 32.9 34.3 41.6 37.2 41.4 50.2 48.9 48.0 47.4 42.8 47.9 50.1 49.7 41.2 43.4 44.3 ..... Retail trade..................... 44.2 46.5 50.9 53.0 54.9 52.9 62.4 60.9 66.1 65.4 71.0 69.7 69.3 69.0 75.7 75.4 ..... Other............................ 81.5 83.7 92.0 93.2 96.3 99.4 103.6 105.5 113.6 117.8 115.0 111.9 119.9 121.7 119.8 125.2 ..... Rest of the world.................... 85.6 98.2 98.7 96.0 98.4 110.3 101.9 113.1 109.8 107.6 107.8 107.4 86.6 98.3 104.3 103.3 ..... ------------------------------------------------------------------------------------------------------------------------------------------------------------ Table 12.--Gross Product of Nonfinancial Corporate Business [Quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 I 94 II 94 III 94 IV 94 I 95 II 95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Billions of dollars ------------------------------------------------------------------------------------------------------------------------------------------------ Gross product of nonfinancial corporate business.............. 2,632.3 2,853.5 3,002.5 3,140.9 3,196.5 3,336.4 3,508.8 3,791.7 4,004.0 4,221.5 4,529.8 4,834.6 3,686.9 3,754.7 3,818.2 3,907.2 3,932.7 3,969.2 Consumption of fixed capital......... 284.8 303.1 323.8 339.3 355.7 370.5 387.0 415.0 437.7 462.7 491.3 522.2 426.7 405.0 411.2 417.1 425.6 434.2 Net product.......................... 2,347.5 2,550.4 2,678.7 2,801.6 2,840.8 2,966.0 3,121.8 3,376.7 3,566.3 3,758.9 4,038.5 4,312.4 3,260.2 3,349.8 3,406.9 3,490.0 3,507.1 3,535.0 Indirect business tax and nontax liability plus business transfer payments less subsidies........... 278.8 295.3 317.1 335.2 359.0 380.4 400.5 436.6 455.5 473.9 496.1 523.5 425.3 433.3 440.6 447.1 451.6 455.0 Domestic income.................... 2,068.6 2,255.1 2,361.6 2,466.4 2,481.8 2,585.6 2,721.3 2,940.1 3,110.8 3,285.0 3,542.5 3,788.9 2,834.9 2,916.4 2,966.3 3,042.9 3,055.4 3,080.1 Compensation of employees........ 1,716.3 1,844.1 1,946.6 2,052.7 2,086.9 2,194.2 2,290.7 2,430.2 2,552.7 2,667.1 2,860.1 3,090.4 2,376.6 2,413.7 2,442.7 2,487.6 2,517.8 2,538.5 Wage and salary accruals....... 1,428.3 1,536.9 1,623.5 1,707.8 1,726.1 1,804.7 1,872.4 1,984.7 2,111.7 2,234.1 2,408.4 2,618.7 1,937.5 1,968.8 1,995.3 2,037.1 2,070.5 2,096.0 Supplements to wages and salaries...................... 288.0 307.2 323.1 344.9 360.7 389.5 418.3 445.5 441.0 433.0 451.7 471.7 439.0 444.9 447.4 450.6 447.3 442.4 Corporate profits with inventory valuation and capital consumption adjustments......... 247.2 287.5 263.2 257.7 252.0 278.0 324.7 402.0 442.3 509.1 562.8 575.0 356.3 398.2 413.7 440.0 420.6 424.4 Profits before tax............. 209.5 257.3 235.6 237.2 221.6 258.0 305.8 381.4 422.1 460.2 503.6 490.6 352.3 370.8 389.3 413.3 414.1 414.5 Profits tax liability........ 93.5 101.9 98.9 95.8 85.5 91.2 105.2 128.9 136.7 150.1 158.8 152.5 119.7 125.1 131.1 139.6 134.4 134.1 Profits after tax............ 116.0 155.5 136.7 141.4 136.1 166.8 200.5 252.6 285.4 310.1 344.7 338.1 232.5 245.7 258.2 273.7 279.6 280.4 Dividends.................. 75.9 79.8 104.2 119.2 125.8 135.0 149.3 158.6 179.3 201.9 219.8 245.4 148.4 158.5 158.1 169.3 172.7 173.5 Undistributed profits...... 40.1 75.7 32.6 22.2 10.3 31.9 51.2 94.0 106.0 108.2 124.9 92.7 84.2 87.3 100.1 104.4 107.0 106.9 Inventory valuation adjustment. -16.2 -22.2 -16.3 -12.9 4.9 -2.8 -4.0 -12.4 -18.3 3.1 7.4 20.9 -8.3 -10.2 -15.7 -15.6 -32.5 -28.2 Capital consumption adjustment. 53.9 52.3 43.9 33.4 25.5 22.8 23.0 33.1 38.4 45.8 51.8 63.5 12.3 37.6 40.1 42.3 39.1 38.1 Net interest..................... 105.1 123.6 151.8 156.0 143.0 113.3 105.9 107.9 115.8 108.7 119.6 123.5 102.1 104.5 109.9 115.3 117.0 117.2 ------------------------------------------------------------------------------------------------------------------------------------------------ Billions of chained (1996) dollars ------------------------------------------------------------------------------------------------------------------------------------------------ Gross product of nonfinancial corporate business\1\........... 3,097.2 3,275.0 3,341.0 3,390.4 3,368.0 3,492.2 3,624.8 3,869.1 4,040.8 4,221.5 4,501.0 4,803.4 3,777.3 3,841.7 3,888.7 3,968.8 3,979.3 4,010.1 Consumption of fixed capital\2\...... 323.5 333.3 347.0 354.8 365.9 380.9 394.4 418.6 436.2 462.7 494.9 537.7 433.5 408.1 413.5 419.3 425.8 432.2 Net product\3\....................... 2,773.7 2,941.7 2,994.0 3,035.6 3,002.1 3,111.2 3,230.4 3,450.5 3,604.6 3,758.9 4,006.1 4,265.7 3,343.7 3,433.7 3,475.2 3,549.5 3,553.5 3,577.9 ------------------------------------------------------------------------------------------------------------------------------------------------ Dollars ------------------------------------------------------------------------------------------------------------------------------------------------ Price, costs, and profits per unit of real gross product of nonfinancial corporate business: Price per unit of real gross product of nonfinancial corporate business\4\............. .850 .871 .899 .926 .949 .955 .968 .980 .991 1.000 1.006 1.007 .976 .977 .982 .984 .988 .990 Compensation of employees (unit labor cost)....................... .554 .563 .583 .605 .620 .628 .632 .628 .632 .632 .635 .643 .629 .628 .628 .627 .633 .633 Unit nonlabor cost................. .216 .221 .237 .245 .255 .247 .246 .248 .250 .248 .246 .244 .253 .245 .247 .247 .249 .250 Consumption of fixed capital..... .092 .093 .097 .100 .106 .106 .107 .107 .108 .110 .109 .109 .113 .105 .106 .105 .107 .108 Indirect business tax and nontax liability plus business transfer payments less subsidies......... .090 .090 .095 .099 .107 .109 .110 .113 .113 .112 .110 .109 .113 .113 .113 .113 .113 .113 Net interest..................... .034 .038 .045 .046 .042 .032 .029 .028 .029 .026 .027 .026 .027 .027 .028 .029 .029 .029 Corporate profits with inventory valuation and capital consumption adjustments (unit profits from current production)............... .080 .088 .079 .076 .075 .080 .090 .104 .109 .121 .125 .120 .094 .104 .106 .111 .106 .106 Profits tax liability............ .030 .031 .030 .028 .025 .026 .029 .033 .034 .036 .035 .032 .032 .033 .034 .035 .034 .033 Profits after tax with inventory valuation and capital consumption adjustments......... .050 .057 .049 .048 .049 .053 .061 .071 .076 .085 .090 .088 .063 .071 .073 .076 .072 .072 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- See footnotes at the end of the table. Table 12.--Gross Product of Nonfinancial Corporate Business--Continued [Quarters seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- III 95 IV 95 I 96 II 96 III 96 IV 96 I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 III 99 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Billions of dollars ---------------------------------------------------------------------------------------------------------------------------------------- Gross product of nonfinancial corporate business.............. 4,038.2 4,076.2 4,117.2 4,192.7 4,249.8 4,326.5 4,408.6 4,483.2 4,578.9 4,648.6 4,723.0 4,784.7 4,882.4 4,948.4 5,028.6 5,094.9 ..... Consumption of fixed capital......... 440.9 450.2 452.6 458.5 465.9 473.6 480.3 487.3 495.1 502.5 508.4 516.5 526.7 537.2 543.8 552.3 ..... Net product.......................... 3,597.2 3,626.0 3,664.6 3,734.2 3,783.9 3,852.9 3,928.3 3,995.9 4,083.8 4,146.0 4,214.6 4,268.2 4,355.7 4,411.1 4,484.8 4,542.7 ..... Indirect business tax and nontax liability plus business transfer payments less subsidies........... 454.3 461.1 466.1 472.6 474.2 482.7 486.2 493.9 501.0 503.2 510.0 516.4 523.0 544.5 542.4 549.8 ..... Domestic income.................... 3,142.9 3,164.8 3,198.4 3,261.6 3,309.6 3,370.2 3,442.1 3,502.1 3,582.8 3,642.8 3,704.6 3,751.8 3,832.6 3,866.7 3,942.4 3,992.9 ..... Compensation of employees........ 2,566.7 2,587.9 2,600.0 2,649.2 2,689.1 2,730.1 2,783.2 2,828.8 2,878.7 2,949.9 3,008.7 3,059.9 3,118.6 3,174.6 3,223.8 3,270.0 ..... Wage and salary accruals....... 2,127.5 2,152.6 2,169.9 2,216.9 2,255.5 2,294.1 2,339.0 2,380.4 2,425.4 2,488.9 2,543.4 2,590.8 2,645.1 2,695.5 2,737.9 2,779.4 ..... Supplements to wages and salaries...................... 439.1 435.3 430.1 432.4 433.6 435.9 444.2 448.4 453.3 461.0 465.3 469.1 473.5 479.0 486.0 490.7 ..... Corporate profits with inventory valuation and capital consumption adjustments......... 460.4 463.6 491.6 504.4 511.4 529.1 543.0 553.7 583.2 571.2 575.0 568.6 588.5 568.0 592.5 594.7 ..... Profits before tax............. 431.3 428.7 445.9 460.2 460.1 474.7 484.8 491.6 525.8 512.1 486.2 492.4 503.9 479.8 508.6 534.2 ..... Profits tax liability........ 139.5 139.0 144.9 150.0 150.0 155.5 152.7 154.8 166.4 161.5 150.9 153.1 157.1 148.8 157.9 166.9 ..... Profits after tax............ 291.8 289.7 300.9 310.2 310.1 319.2 332.1 336.7 359.4 350.7 335.3 339.3 346.9 331.0 350.6 367.3 ..... Dividends.................. 183.2 188.0 198.9 195.0 203.8 210.1 211.6 216.0 221.6 230.1 236.2 245.5 242.9 256.9 241.5 267.9 ..... Undistributed profits...... 108.5 101.7 102.0 115.2 106.3 109.1 120.4 120.8 137.9 120.6 99.1 93.7 104.0 74.0 109.1 99.4 ..... Inventory valuation adjustment. -9.8 -2.6 2.1 -1.7 4.7 7.1 9.3 11.2 4.9 4.0 29.5 13.6 19.8 20.8 13.3 -13.6 ..... Capital consumption adjustment. 39.0 37.5 43.6 45.8 46.6 47.3 49.0 50.9 52.5 55.1 59.4 62.6 64.8 67.4 70.6 74.1 ..... Net interest..................... 115.8 113.3 106.9 108.0 109.1 111.0 116.0 119.6 120.9 121.8 120.9 123.3 125.5 124.1 126.1 128.1 ..... ---------------------------------------------------------------------------------------------------------------------------------------- Billions of chained (1996) dollars ---------------------------------------------------------------------------------------------------------------------------------------- Gross product of nonfinancial corporate business\1\........... 4,070.7 4,103.2 4,128.3 4,193.9 4,244.7 4,319.2 4,383.8 4,452.3 4,548.2 4,619.7 4,699.1 4,758.4 4,844.8 4,911.2 4,981.7 5,035.0 ..... Consumption of fixed capital\2\...... 438.7 448.2 451.9 458.9 466.1 473.7 481.2 489.9 499.3 509.4 521.3 532.2 543.2 554.3 564.0 576.9 ..... Net product\3\....................... 3,632.0 3,655.0 3,676.4 3,735.0 3,778.6 3,845.5 3,902.6 3,962.5 4,049.0 4,110.3 4,177.8 4,226.2 4,301.7 4,356.9 4,417.7 4,458.1 ..... ---------------------------------------------------------------------------------------------------------------------------------------- Dollars ---------------------------------------------------------------------------------------------------------------------------------------- Price, costs, and profits per unit of real gross product of nonfinancial corporate business: Price per unit of real gross product of nonfinancial corporate business\4\............. .992 .993 .997 1.000 1.001 1.002 1.006 1.007 1.007 1.006 1.005 1.006 1.008 1.008 1.009 1.012 ..... Compensation of employees (unit labor cost)....................... .631 .631 .630 .632 .634 .632 .635 .635 .633 .639 .640 .643 .644 .646 .647 .649 ..... Unit nonlabor cost................. .248 .250 .249 .248 .248 .248 .247 .247 .246 .244 .243 .244 .243 .245 .243 .244 ..... Consumption of fixed capital..... .108 .110 .110 .109 .110 .110 .110 .109 .109 .109 .108 .109 .109 .109 .109 .110 ..... Indirect business tax and nontax liability plus business transfer payments less subsidies......... .112 .112 .113 .113 .112 .112 .111 .111 .110 .109 .109 .109 .108 .111 .109 .109 ..... Net interest..................... .028 .028 .026 .026 .026 .026 .026 .027 .027 .026 .026 .026 .026 .025 .025 .025 ..... Corporate profits with inventory valuation and capital consumption adjustments (unit profits from current production)............... .113 .113 .119 .120 .120 .122 .124 .124 .128 .124 .122 .119 .121 .116 .119 .118 ..... Profits tax liability............ .034 .034 .035 .036 .035 .036 .035 .035 .037 .035 .032 .032 .032 .030 .032 .033 ..... Profits after tax with inventory valuation and capital consumption adjustments......... .079 .079 .084 .085 .085 .086 .089 .090 .092 .089 .090 .087 .089 .085 .087 .085 ..... ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Chained-dollar domestic product of nonfinancial corporate business equals the current-dollar product deflated by the implicit price deflator for goods and structures in gross domestic product. Effective with the estimates scheduled for release on March 30, 2000, the current-dollar product will be deflated by a chain-type price index calculated using gross product price indexes for each nonfinancial industry. 2. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product of the chain-type quantity index and the 1996 current-dollar value of the corresponding series, divided by 100. 3. Chained-dollar net product of nonfinancial corporate business is the difference between the gross product and the consumption of fixed capital. 4. The deflator for gross product of nonfinancial corporate business divided by 100. Appendix Table A.--Real Gross Domestic Product and Related Aggregates and Price Indexes: Percent Change From Preceding Period [Percent; quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------ 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 I 94 II 94 III 94 IV 94 I 95 II 95 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ GDP and related aggregates: GDP............................... 3.5 4.2 3.5 1.7 -.2 3.3 2.4 4.0 2.7 3.7 4.5 4.3 3.6 5.7 2.2 5.1 1.5 .8 Goods............................. 3.8 5.6 5.5 1.0 -1.3 3.5 3.8 6.3 3.9 4.9 6.4 6.0 7.3 7.9 1.0 12.0 2.6 -2.2 Services.......................... 4.2 4.0 2.8 3.0 2.1 3.0 1.3 2.4 2.3 2.5 3.2 2.9 2.4 2.8 3.3 1.3 1.2 4.0 Structures........................ -.6 .3 -1.0 -1.9 -9.0 4.5 3.0 4.7 .3 6.0 4.4 5.5 -4.9 15.6 1.4 -.5 -.8 -5.1 Motor vehicle output.............. -1.6 5.2 .2 -8.7 -10.9 12.0 8.4 11.7 .5 .1 6.6 7.5 28.6 -20.0 11.4 8.0 3.7 -11.4 GDP less motor vehicle output..... 3.7 4.2 3.6 2.1 .1 3.1 2.2 3.7 2.8 3.8 4.4 4.2 2.7 6.9 1.9 5.0 1.4 1.3 Final sales of computers\1\....... 23.4 20.3 13.4 5.6 12.0 24.8 22.1 20.1 53.7 55.3 45.4 53.9 23.2 5.0 22.4 44.3 86.6 57.4 GDP less final sales of computers........................ 3.3 4.1 3.4 1.7 -.3 3.2 2.2 3.9 2.3 3.2 4.1 3.9 3.5 5.7 2.1 4.8 1.0 .4 Farm product\2\................... 1.7 -10.8 13.2 6.0 1.8 11.7 -10.2 17.0 -14.7 7.9 11.8 -2.5 77.3 -8.2 -1.8 -21.1 -23.4 -9.3 Nonfarm business less housing product\3\....................... 3.8 4.7 3.4 1.4 -1.0 3.9 3.2 4.6 3.4 4.6 5.4 5.3 1.9 8.5 2.0 6.8 1.7 1.0 Price indexes: GDP............................... 2.9 3.4 3.9 3.9 3.4 2.2 2.7 2.1 2.1 1.8 1.7 1.2 1.9 1.8 2.4 1.8 2.9 1.6 GDP less food and energy.......... 3.0 3.3 3.7 3.8 3.4 2.4 2.8 2.2 2.2 1.7 1.7 1.3 1.9 2.6 2.4 1.7 3.3 1.7 GDP less final sales of computers. 3.1 3.5 4.0 4.1 3.5 2.3 2.9 2.2 2.4 2.2 2.0 1.6 2.0 1.9 2.5 2.1 3.2 1.8 Gross domestic purchases.......... 3.2 3.4 3.9 4.1 3.2 2.2 2.5 2.1 2.2 1.7 1.4 .7 1.5 2.2 2.8 1.8 2.7 2.1 Gross domestic purchases less food and energy.................. 3.3 3.6 3.7 3.8 3.3 2.5 2.8 2.2 2.3 1.5 1.3 1.0 1.8 2.6 2.5 1.9 2.8 2.1 Gross domestic purchases less final sales of computers......... 3.4 3.5 4.0 4.2 3.3 2.4 2.7 2.2 2.4 2.1 1.8 1.2 1.6 2.3 3.0 2.0 2.9 2.4 Personal consumption expenditures. 3.7 3.9 4.4 4.6 3.5 2.7 2.7 2.0 2.2 2.0 1.7 .9 .9 2.1 3.4 1.7 2.5 2.3 Personal consumption expenditures less food and energy............. 4.0 4.2 4.2 4.3 3.7 3.2 3.1 2.2 2.3 1.7 1.6 1.3 1.2 2.6 3.0 1.8 2.7 2.3 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ Appendix Table A.--Real Gross Domestic Product and Related Aggregates and Price Indexes: Percent Change From Preceding Period--Continued [Percent; quarters seasonally adjusted at annual rates] ----------------------------------------------------------------------------------------------------------------------------------------------------------- III 95 IV 95 I 96 II 96 III 96 IV 96 I 97 II 97 III 97 IV 97 I 98 II 98 III 98 IV 98 I 99 II 99 III 99 ----------------------------------------------------------------------------------------------------------------------------------------------------------- GDP and related aggregates: GDP............................... 3.2 3.3 2.9 6.9 2.2 4.9 4.9 5.1 4.0 3.1 6.7 2.1 3.8 5.9 3.7 1.9 4.8 Goods............................. 3.7 7.3 2.7 9.0 4.7 4.2 8.8 7.9 4.9 3.7 14.0 -3.0 5.7 11.7 2.9 .5 8.5 Services.......................... 3.0 .5 2.2 4.2 .7 5.1 2.2 4.1 3.3 2.8 1.3 5.0 2.6 2.1 3.1 3.7 4.1 Structures........................ 2.6 4.0 8.1 15.1 .6 6.7 5.6 .1 4.8 2.5 9.7 7.6 2.7 5.0 10.2 -2.8 -5.1 Motor vehicle output.............. -4.8 19.8 -33.7 69.6 -2.4 -19.2 11.4 4.0 28.7 13.7 -4.4 -8.2 6.3 69.2 -20.7 8.4 22.5 GDP less motor vehicle output..... 3.5 2.7 4.5 5.1 2.4 5.9 4.7 5.2 3.2 2.7 7.1 2.5 3.7 4.0 4.8 1.6 4.2 Final sales of computers\1\....... 49.0 75.4 73.4 36.6 45.4 33.0 56.1 51.2 53.6 19.9 66.8 62.2 77.5 44.4 31.6 44.2 71.6 GDP less final sales of computers........................ 2.8 2.8 2.4 6.6 1.8 4.6 4.5 4.7 3.6 2.9 6.2 1.6 3.2 5.5 3.4 1.5 4.3 Farm product\2\................... -24.6 24.4 21.7 14.4 -.2 4.1 27.6 10.8 18.5 -8.6 -9.1 -11.4 7.3 3.6 -4.4 5.9 -18.4 Nonfarm business less housing product\3\....................... 4.5 3.9 4.0 7.9 2.6 6.1 5.7 6.2 4.8 4.2 8.5 2.4 4.4 7.3 4.1 1.9 5.8 Price indexes: GDP............................... 1.8 1.9 2.5 1.3 1.8 1.4 2.4 1.5 1.2 1.3 1.0 1.1 1.4 .9 2.0 1.3 1.0 GDP less food and energy.......... 1.4 1.9 2.2 .6 1.9 1.7 2.2 1.7 1.1 1.3 1.2 1.3 1.5 1.0 1.9 1.4 1.1 GDP less final sales of computers. 2.1 2.2 2.9 1.7 2.1 1.8 2.7 1.9 1.5 1.5 1.4 1.5 2.0 1.3 2.4 1.5 1.2 Gross domestic purchases.......... 1.5 1.7 2.3 1.2 1.5 1.9 1.9 .6 1.0 1.1 .1 .8 1.1 1.0 1.6 1.9 1.6 Gross domestic purchases less food and energy.................. 1.7 1.9 1.9 .3 1.5 1.4 1.8 1.4 .9 1.0 .8 1.2 1.3 1.1 1.7 1.2 1.0 Gross domestic purchases less final sales of computers......... 1.9 2.1 2.8 1.7 1.8 2.3 2.3 .9 1.4 1.5 .5 1.3 1.6 1.5 2.0 2.2 2.0 Personal consumption expenditures. 1.8 1.6 2.4 2.4 1.4 2.5 2.1 .8 1.1 1.2 .5 1.1 1.2 1.2 1.4 2.2 1.9 Personal consumption expenditures less food and energy............. 2.0 1.8 1.8 1.5 1.3 1.9 1.9 1.9 .8 1.0 1.3 1.7 1.4 1.4 1.4 1.3 1.2 ----------------------------------------------------------------------------------------------------------------------------------------------------------- 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 product of farm, of housing, of households and institutions, and of general government. See "Explanatory Note" at the end of the tables.