EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, JULY 27, 2018 BEA 18-37 Technical: Lisa Mataloni (GDP) (301) 278-9083 gdpniwd@bea.gov Dave Wasshausen (Update) (301) 278-9752 Erich Strassner (301) 278-9612 Media: Jeannine Aversa 301) 278-9003 Jeannine.Aversa@bea.gov National Income and Product Accounts Gross Domestic Product: Second Quarter 2018 (Advance Estimate) Comprehensive Update: 1929 Through First Quarter 2018 Real gross domestic product increased at an annual rate of 4.1 percent in the second quarter of 2018 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.2 percent (revised). The Bureau emphasized that the second-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see "Source Data for the Advance Estimate" on page 2). The "second" estimate for the second quarter, based on more complete data, will be released on August 29, 2018. The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (PCE), exports, nonresidential fixed investment, federal government spending, and state and local government spending that were partly offset by negative contributions from private inventory investment and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased (table 2). CHART GDP BOX._______ Comprehensive Update of the National Income and Product Accounts The estimates released today also reflect the results of the 15th comprehensive update of the National Income and Product Accounts (NIPAs). The updated estimates reflect previously announced improvements, and include the introduction of new not seasonally adjusted estimates for GDP, GDI, and their major components. For more information, see the Technical Note. Revised NIPA table stubs, initial results, and background materials are available on the BEA Web site. END BOX.______ The acceleration in real GDP growth in the second quarter reflected accelerations in PCE and in exports, a smaller decrease in residential fixed investment, and accelerations in federal government spending and in state and local spending. These movements were partly offset by a downturn in private inventory investment and a deceleration in nonresidential fixed investment. Imports decelerated. Current-dollar GDP increased 7.4 percent, or $361.5 billion, in the second quarter to a level of $20.4 trillion. In the first quarter, current-dollar GDP increased 4.3 percent, or $209.2 billion (table 1 and table 3A). The price index for gross domestic purchases increased 2.3 percent in the second quarter, compared with an increase of 2.5 percent in the first quarter (table 4). The PCE price index increased 1.8 percent, compared with an increase of 2.5 percent. Excluding food and energy prices, the PCE price index increased 2.0 percent, compared with an increase of 2.2 percent (table 4). Personal Income (table 8) Current-dollar personal income increased $183.7 billion in the second quarter, compared with an increase of $215.8 billion in the first quarter. Decelerations in wages and salaries, government social benefits, personal interest income, and nonfarm proprietors' income were partly offset by accelerations in personal dividend income and rental income, a deceleration in contributions for government social insurance (a subtraction in the calculation of personal income), and an upturn in farm proprietors’ income. Disposable personal income increased $167.5 billion, or 4.5 percent, in the second quarter, compared with an increase of $256.7 billion, or 7.0 percent, in the first quarter. Real disposable personal income increased 2.6 percent, compared with an increase of 4.4 percent. Personal saving was $1,051.1 billion in the second quarter, compared with $1094.1 billion in the first quarter. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 6.8 percent in the second quarter, compared with 7.2 percent in the first quarter. Source Data for the Advance Estimate Information on the source data and the key assumptions used for unavailable source data in the advance estimate is provided in a Technical Note that is posted with the news release on BEA’s Web site. A detailed "Key Source Data and Assumptions" file is also posted for each release. For information on updates to GDP, see the "Additional Information" section that follows. Comprehensive Update of the National Income and Product Accounts Comprehensive updates of the National Income and Product Accounts (NIPAs), which are carried out about every five years, are an important part of BEA’s regular process for improving and modernizing its accounts to keep pace with the ever-changing U.S. economy. Updates incorporate newly available and more comprehensive source data, as well as improved estimation methodologies. The timespan for this year's comprehensive update is 1929 through the first quarter 2018. With today's release of these updated statistics, most NIPA tables are available on BEA's Web site (www.bea.gov). A complete schedule of the table release plan is also available on BEA’s Web site. An article describing the results will be published in the September 2018 issue of BEA’s monthly journal, the Survey of Current Business. Updates for the first quarter of 2018 For the first quarter of 2018, real GDP is now estimated to have increased 2.2 percent (table 1); in the previously published estimates, first-quarter GDP was estimated to have increased 2.0 percent. The 0.2- percentage point upward revision to the percent change in first-quarter real GDP primarily reflected upward revisions to private inventory investment, nonresidential fixed investment, and federal government spending that were partly offset by downward revisions to PCE and residential fixed investment. Imports were revised down. Real GDI is now estimated to have increased 3.9 percent in the first quarter (table 1); in the previously published estimates, first-quarter GDI was estimated to have increased 3.6 percent. First Quarter 2018 Previous Estimate Revised (Percent change from preceding quarter) Real GDP 2.0 2.2 Current-dollar GDP 4.2 4.3 Real GDI 3.6 3.9 Average of Real GDP and GDI 2.8 3.1 Gross domestic purchases price index 2.7 2.5 PCE price index 2.5 2.5 Summary of historical updates The picture of the economy presented in the updated estimates is very similar to the picture presented in the previously published estimates. * For 1929–2012, the average annual growth rate of real GDP was 3.2 percent, unrevised from the previously published estimates. For the more recent period, 2007–2017, the growth rate was 1.5 percent, 0.1 percentage point higher than in the previously published estimates. * For 2012–2017, the average annual growth rate of real GDP was 2.2 percent, the same as in the previously published estimates. The percent change in real GDP was unrevised for 2012; revised up 0.1 percentage point for 2013; revised down 0.1 percentage point for 2014; unrevised for 2015; revised up 0.1 percentage point for 2016; and revised down 0.1 percentage point for 2017. * For 2012–2017, the average rate of change in the prices paid by U.S. residents, as measured by the gross domestic purchasers’ price index, was 1.2 percent, 0.1 percentage point lower than in the previously published estimates. * For the period of contraction from the fourth quarter of 2007 to the second quarter of 2009, real GDP decreased at an average annual rate of 2.7 percent; in the previously published estimates, it decreased 2.8 percent. * For the period of expansion from the second quarter of 2009 to the first quarter of 2018, real GDP increased at an average annual rate of 2.2 percent, the same as previously published. Improvements incorporated in this comprehensive update Comprehensive updates encompass three major types of improvements: * Changes in definitions and in classifications that update the accounts to more accurately portray the evolving U.S. economy, * Changes in presentations that make the NIPA tables more informative, and * Statistical changes that introduce new and improved methodologies and that bring in newly available and revised source data (see box below). The improvements incorporated in the updated estimates were previewed in an article the April 2018 Survey of Current Business. Additional information regarding improvements introduced as part of the 2018 Comprehensive Update, including background materials and presentational changes, is available on BEA's Web site. Changes in definitions, classifications, and presentations The changes in definitions, in classifications, and in presentations introduced in this comprehensive update include the following: * Expenditures for research and development (R&D) for software are reclassified from fixed investment in own-account software to fixed investment in R&D. The new treatment resolves an inconsistency between the NIPA measures and the primary source data underlying the estimates of investment in R&D and allows users to better understand the effects of innovation and intangible assets on the economy. * The accuracy of measures of intangible investment is improved by incorporating the value of the return to fixed capital into the estimates of own account investment in software and R&D, consistent with international guidelines. * Payments by the Federal Reserve banks to the U.S. government are reclassified from taxes on corporate income to dividend payments. This reclassification will improve the consistency of the NIPAs with international guidelines and with the practices of other countries. * A new presentation of the estimates of federal and state and local government investment in structures for 1929–1996 is consistent with the estimates beginning in 1997. * Updated tables present an improved, expanded presentation of taxes on production and imports. * Updated descriptions of selected series in personal consumption expenditures (PCE) are introduced to better reflect the rapidly changing digital economy. * The reference year for the chain-type quantity and price indexes and for the chained-dollar estimates is updated to 2012 from 2009. Statistical changes. Important statistical changes that introduce new and improved methodologies and that bring in newly available source data include the following: * BEA’s 2012 benchmark input-output (I-O) accounts, which incorporate results of the 2012 Economic Census and provide the most thorough and detailed information on the structure of the U.S. economy, are used to benchmark the expenditure components of GDP. * Additional improvements to seasonal adjustment procedures are introduced, reflecting the findings of BEA’s detailed review of the components of GDP and gross domestic income (GDI). The revised NIPA estimates reflect updates to seasonal factors for 2002 forward, as well as updates to a more limited set of seasonal factors prior to 2002. An article in the August Survey of Current Business will describe BEA’s latest research on seasonal adjustment in GDP and GDI. * BEA now provides quarterly estimates of GDP, GDI, and their major components that are not seasonally adjusted. These statistics are available in new tables in “Section 8: Not Seasonally Adjusted Estimates” of the NIPA tables presented in the interactive data application on BEA’s Web site. * Improved price indexes for software, medical equipment, and communications equipment are incorporated into BEA’s estimates. The improved price indexes reflect recent research on rapid innovations and quality improvements of these products and provide a more accurate measure of their contribution to growth and productivity. Footnote 1. See Moulton and Cowan, "Residual Seasonality in GDP and GDI: Findings and Next Steps" in the July 2016 Survey. * More accurate current-dollar estimates of private investment in information and communications technology. * Improved methods for measuring the implicit output of savings institutions and credit unions are introduced. The updated estimates are consistent with the methodology used for estimating the implicit output of commercial banks and provide a better measure of the activities of the financial sector. * The treatment of state and local government defined pension plans is now harmonized with the treatment of federal plans; both plans are now measured using a similar, consistent approach. Real GDP (Table 1A) The updated statistics largely reflect the incorporation of newly available and revised source data (see the box below) and improvements to existing methodologies. * From 2012 to 2017, real GDP increased at an average annual rate of 2.2 percent, the same as previously published. From the fourth quarter of 2012 to the first quarter of 2018, real GDP increased at an average annual rate of 2.3 percent, the same as in the previously published estimates. CHART_____ CU18 GDP o For 2012, real GDP growth was unrevised. Upward revisions to nonresidential fixed investment and inventory investment were offset by an upward revision to imports and by a downward revision to state and local government spending. o For 2013, real GDP growth was revised up 0.1 percentage point. Upward revisions to nonresidential fixed investment, state and local government spending, inventory investment, and federal government spending were partly offset by an upward revision to imports. o For 2014, real GDP growth was revised down 0.1 percentage point. An upward revision to imports and downward revisions to inventory investment and state and local government spending were partly offset by upward revisions to nonresidential fixed investment. o For 2015, real GDP growth was unrevised. Upward revisions to state and local government spending, personal consumption expenditures (PCE), exports, and inventory investment were offset by an upward revision to imports and by a downward revision to nonresidential fixed investment. o For 2016, real GDP growth was revised up 0.1 percentage point. Upward revisions to nonresidential fixed investment, state and local government spending, residential investment, exports, and federal government spending were partly offset by a downward revision to inventory investment and by an upward revision to imports. o For 2017, real GDP growth was revised down 0.1 percentage point. A downward revision to PCE, an upward revision to imports, and downward revisions to state and local government spending and exports were partly offset by upward revisions to inventory investment, nonresidential fixed investment, residential investment, and federal government spending. * From the first quarter of 2012 through the fourth quarter of 2017, the average revision (without regard to sign) in the percent change in real GDP was 0.4 percentage point. The revisions did not change the direction of the change in real GDP (increase or decrease) for any of these quarters. * Current-dollar GDP was revised up for all years from 2012 to 2017: by $41.8 billion, or 0.3 percent, for 2012; $93.3 billion, or 0.6 percent, for 2013; $94.1 billion, or 0.5 percent, for 2014, $98.6 billion, or 0.5 percent, for 2015, $82.7 billion, or 0.4 percent, for 2016, and $94.8 billion, or 0.5 percent, for 2017. Gross domestic income (GDI) and the statistical discrepancy (Table 1A) * From 2012 to 2017, real GDI increased at an average annual rate of 2.0 percent, unrevised from the previous estimate. From the fourth quarter of 2012 to the fourth quarter of 2017, real GDI increased at an average annual rate of 2.1 percent; in the previously published estimates, real GDI increased at an average annual rate of 2.0 percent. * The statistical discrepancy as a percentage of GDP was revised from -1.3 percent to -1.5 percent for 2012; was revised from -0.8 percent to -1.0 percent for 2013; was revised from -1.3 percent to -1.7 percent for 2014; was unrevised at -1.4 percent for 2015; was revised from -0.8 percent to -0.7 percent for 2016; and was revised from -0.2 percent to -0.7 percent for 2017. * The average of GDP and GDI is a supplemental measure of U.S. economic activity. In real, or inflation-adjusted, terms this measure increased at an average annual rate of 2.1 percent from 2012 to 2017, the same as previously published. Price measures (Table 4) * Gross domestic purchases - From the fourth quarter of 2012 to the fourth quarter of 2017, the average annual rate of increase in the price index for gross domestic purchases was 1.2 percent, 0.1 percentage point lower than the previously published estimates. * Personal consumption expenditures - From the fourth quarter of 2012 to the fourth quarter of 2017, the average annual rate of increase in the price index for PCE was 1.2 percent, the same as previously published. The increase in the “core” PCE price index, which excludes food and energy, was 1.6 percent, 0.1 percentage point higher than previously published. Income and saving measures (Table 1A) * National income was revised up $32.8 billion, or 0.2 percent, for 2012; was revised up $49.9 billion, or 0.3 percent, for 2013; was revised up $101.4 billion, or 0.7 percent, for 2014; was revised up $43.4 billion, or 0.3 percent, for 2015; was revised up $6.9 billion, or less than 0.1 percent, for 2016; and was revised up $146.2 billion, or 0.9 percent, for 2017. o For 2012, an upward revision to proprietors’ income was partly offset by downward revisions to supplements to wages and salaries and to net interest. o For 2013, upward revisions to proprietors’ income and to taxes on production and imports were partly offset by downward revisions to net interest, corporate profits, and rental income. o For 2014, upward revisions to proprietors’ income and to taxes on production and imports were partly offset by downward revisions to corporate profits and net interest. o For 2015, upward revisions to proprietors’ income and to taxes on production and imports were partly offset by downward revisions to corporate profits and rental income. o For 2016, upward revisions to proprietors’ income and to taxes on production and imports were partly offset by downward revisions to corporate profits, net interest, supplements to wages and salaries and rental income. Footnote 2. The statistical discrepancy is current dollar GDP less current dollar GDI. GDP measures final expenditures -- the sum of consumer spending, private investment, net exports, and government spending. GDI measures the incomes earned in the production of GDP. In concept, GDP is equal to GDI. In practice, they differ because they are estimated using different source data and different methods. o For 2017, upward revisions to proprietors’ income, wages and salaries, and taxes on production and imports were partly offset by downward revisions to corporate profits, rental income, and net interest. * Corporate profits was revised down $0.8 billion, or less than 0.1 percent, for 2012; was revised down $22.2 billion, or 1.1 percent, for 2013; was revised down $21.7 billion, or 1.0 percent, for 2014; was revised down $60.2 billion, or 2.8 percent, for 2015; was revised down $38.5 billion, or 1.9 percent, for 2016; and revised down $65.4 billion, or 3.0 percent, for 2017. * Personal income was revised up $95.0 billion, or 0.7 percent, for 2012; was revised up $107.4 billion, or 0.8 percent, for 2013; was revised up $173.6 billion, or 1.2 percent, for 2014; was revised up $166.6 billion, or 1.1 percent, for 2015; was revised up $196.4 billion, or 1.2 percent, for 2016; and was revised up $401.9 billion, or 2.4 percent, for 2017. * From 2012 to 2017, the average annual rate of growth of real disposable personal income was revised up 0.4 percentage point from 1.8 percent to 2.2 percent. * The personal saving rate (personal saving as a percentage of disposable personal income) was revised up from 7.6 percent to 8.9 percent for 2012; was revised up from 5.0 percent to 6.4 percent for 2013; was revised up from 5.7 percent to 7.3 percent for 2014; was revised up from 6.1 percent to 7.6 percent for 2016; was revised up from 4.9 percent to 6.7 percent for 2016; and was revised up from 3.4 percent to 6.7 percent for 2017. CHART CU18 National income New and revised source data The updated statistics incorporated data from the following major federal statistical sources: Agency/Data Years Covered and Vintage Census Bureau Annual capital expenditures survey 2015 (revised); 2016 (new) Annual wholesale trade survey 2008-2015 (revised); 2016 (new) Annual retail trade survey 2011-2015 (revised); 2016 (new) Annual survey of manufactures 2015 (revised); 2016 (new) Monthly indicators of manufactures, merchant wholesale trade, and retail trade 2008–2017 (revised) Service annual survey 2015 and 2016 (revised); 2017 (new) Annual surveys of state and local government finances Fiscal year (FY) 2015 (revised); FY 2016 (new) Monthly survey of construction spending (value put in place) 2013–2017 (revised) Quarterly services survey 2014–2017(revised) Current population survey/housing vacancy survey 2015 and 2016 (revised); 2017 (new) Office of Management and Budget Federal Budget Fiscal years 2017 and 2018 Internal Revenue Service Tabulations of tax returns for corporations 2015 (revised) Tabulations of tax returns for sole proprietorships and partnerships 2016 (new) BLS Quarterly census of employment and wages 2016–2017 (revised) Survey of occupational employment 2017 (new) Department of Agriculture Farm statistics 2008–2017 (revised) BEA International transactions accounts 1999-2017 (revised) Next release: August 29, 2018 at 8:30 A.M. EDT Gross Domestic Product: Second Quarter 2018 (Second Estimate) Corporate Profits: Second Quarter 2018 (Preliminary Estimate) Additional Information Resources Additional resources available at www.bea.gov: * Stay informed about BEA developments by reading the BEA blog, signing up for BEA’s email subscription service, or following BEA on Twitter @BEA_News. * Historical time series for these estimates can be accessed in BEA’s interactive data application. * Access BEA data by registering for BEA’s data application programming interface (API). * For more on BEA’s statistics, see our monthly online journal, the Survey of Current Business. * BEA's news release schedule * NIPA Handbook: Concepts and Methods of the U.S. National Income and Product Accounts Definitions Gross domestic product (GDP) is the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production. GDP is also equal to the sum of personal consumption expenditures, gross private domestic investment, net exports of goods and services, and government consumption expenditures and gross investment. Gross domestic income (GDI) is the sum of incomes earned and costs incurred in the production of GDP. In national economic accounting, GDP and GDI are conceptually equal. In practice, GDP and GDI differ because they are constructed using largely independent source data. Real GDI is calculated by deflating gross domestic income using the GDP price index as the deflator, and is therefore conceptually equivalent to real GDP. Current-dollar estimates are valued in the prices of the period when the transactions occurred—that is, at "market value." Also referred to as "nominal estimates" or as "current-price estimates." Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes. The gross domestic purchases price index measures the prices of final goods and services purchased by U.S. residents. The personal consumption expenditure price index measures the prices paid for the goods and services purchased by, or on the behalf of, "persons." Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers. t includes income from domestic sources as well as the rest of world. It does not include realized or unrealized capital gains or losses. Disposable personal income is the income available to persons for spending or saving. It is equal to personal income less personal current taxes. Personal outlays is the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments. Personal saving is personal income less personal outlays and personal current taxes. The personal saving rate is personal saving as a percentage of disposable personal income. Profits from current production, referred to as corporate profits with inventory valuation adjustment (IVA) and capital consumption adjustment (CCAdj) in the National Income and Product Accounts (NIPAs), is a measure of the net income of corporations before deducting income taxes that is consistent with the value of goods and services measured in GDP. The IVA and CCAdj are adjustments that convert inventory withdrawals and depreciation of fixed assets reported on a tax-return, historical-cost basis to the current-cost economic measures used in the national income and product accounts. Profits for domestic industries reflect profits for all corporations located within the geographic borders of the United States. The rest-of- the-world (ROW) component of profits is measured as the difference between profits received from ROW and profits paid to ROW. For more definitions, see the Glossary: National Income and Product Accounts. Statistical conventions Annual-vs-quarterly rates. Quarterly seasonally adjusted values are expressed at annual rates, unless otherwise specified. This convention is used for BEA’s featured, seasonally adjusted measures to facilitate comparisons with related and historical data. For details, see the FAQ “Why does BEA publish estimates at annual rates?” Quarterly not seasonally adjusted values are expressed only at quarterly rates. Percent changes. Percent changes in quarterly seasonally adjusted series are displayed at annual rates, unless otherwise specified. For details, see the FAQ “How is average annual growth calculated?” Percent changes in quarterly not seasonally adjusted values are calculated from the same quarter one year ago. All published percent changes are calculated from unrounded data. Calendar years and quarters. Unless noted otherwise, annual and quarterly data are presented on a calendar basis. Quantities and prices. Quantities, or "real" volume measures, and prices are expressed as index numbers with a specified reference year equal to 100 (currently 2012). Quantity and price indexes are calculated using a Fisher-chained weighted formula that incorporates weights from two adjacent periods (quarters for quarterly data and annuals for annual data). For details on the calculation of quantity and price indexes, see Chapter 4: Estimating Methods in the NIPA Handbook. Chained-dollar values are calculated by multiplying the quantity index by the current dollar value in the reference year (2012) and then dividing by 100. Percent changes calculated from real quantity indexes and chained-dollar levels are conceptually the same; any differences are due to rounding. Chained-dollar values are not additive because the relative weights for a given period differ from those of the reference year. In tables that display chained-dollar values, a "residual" line shows the difference between the sum of detailed chained-dollar series and its corresponding aggregate. Updates to GDP BEA releases three vintages of the current quarterly estimate for GDP: "Advance" estimates are released near the end of the first month following the end of the quarter and are based on source data that are incomplete or subject to further revision by the source agency; "second" and "third" estimates are released near the end of the second and third months, respectively, and are based on more detailed and more comprehensive data as they become available. Annual and comprehensive updates are typically released in late July. Annual updates generally cover at least the 5 most recent calendar years (and their associated quarters) and incorporate newly available major annual source data as well as some changes in methods and definitions to improve the accounts. Comprehensive (or benchmark) updates are carried out at about 5-year intervals and incorporate major periodic source data, as well as major conceptual improvements. The table below shows the average revisions to the quarterly percent changes in real GDP between different estimate vintages, without regard to sign. Vintage Average Revision Without Regard to Sign (percentage points, annual rates) Advance to second 0.5 Advance to third 0.6 Second to third 0.2 Advance to latest 1.3 Note - Based on estimates from 1993 through 2016. For more information on GDP updates, see Revision Information on the BEA Web site. The larger average revision from the advance to the latest estimate reflects the fact that periodic comprehensive updates include major statistical and methodological improvements. Unlike GDP, an advance current quarterly estimate of GDI is not released because data on domestic profits and on net interest of domestic industries are not available. For fourth quarter estimates, these data are not available until the third estimate. List of GDP News Release Tables Table 1. Real Gross Domestic Product and Related Measures: Percent Change from Preceding Period Table 1A. Revisions to Current-Dollar Gross Domestic Product, National Income, and Disposition of Personal Income Table 2. Contributions to Percent Change in Real Gross Domestic Product Table 3A. Gross Domestic Product and Related Measures Table 3B. Real Gross Domestic Product and Related Measures Table 4. Price Indexes for Gross Domestic Product and Related Measures: Percent Change from Preceding Period Table 5. Real Gross Domestic Product: Annual Percent Change Table 5A. Gross Domestic Product: Levels, Percent Change From Preceding Year, and Revision to Percent Change Table 5B. Real Gross Domestic Product: Levels, Percent Change From Preceding Year, and Revision to Percent Change Table 5C. Chain-Type Price Indexes for Gross Domestic Product, Percent Change From Preceding Year, and Revision to Percent Change Table 6. Real Gross Domestic Product: Percent Change from Quarter One Year Ago Table 7. Relation of Gross Domestic Product, Gross National Product, and National Income Table 8. Personal Income and Its Disposition Table 9A. Corporate Profits Table 9B. Corporate Profits: Percent Change From Preceding Period Table 10A. Corporate Profits by Industry Table 10B. Corporate Profits by Industry: Change From Preceding Period Table 10C. Revisions to Corporate Profits by Industry Table 11. Gross Value Added of Nonfinancial Domestic Corporate Business Appendix Table A. Real Gross Domestic Product and Related Aggregates: Percent Change From Preceding Period and Contributions to Percent Change Appendix Table B. Not Seasonally Adjusted Real Gross Domestic Product: Level and Percent Change From Quarter One Year Ago Table 1. Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 -------------------------------------------------------------------------------------Seasonally adjusted at annual rates------------------------------------------------------------------------------------- -------------2012------------- -------------2013------------- -------------2014------------- -------------2015------------- -------------2016------------- -------------2017------------- -----2018----- Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP)..... 1.9 -0.1 -2.5 2.6 1.6 2.2 1.8 2.5 2.9 1.6 2.2 3.2 1.7 0.5 0.5 3.6 0.5 3.2 3.2 -1.0 5.1 4.9 1.9 3.3 3.3 1.0 0.4 1.5 2.3 1.9 1.8 1.8 3.0 2.8 2.3 2.2 4.1 Personal consumption expenditures...... 2.2 -0.2 -1.3 1.7 1.9 1.5 1.5 2.9 3.7 2.7 2.5 3.3 0.6 0.7 1.8 2.1 0.3 1.6 3.5 1.6 4.4 4.5 4.7 3.5 3.4 2.9 2.3 2.4 3.4 2.7 2.6 1.8 2.9 2.2 3.9 0.5 4.0 Goods................................ 2.8 -3.0 -3.1 2.8 2.2 2.1 3.1 4.0 4.7 3.6 3.7 5.2 -0.1 1.8 2.9 7.1 0.3 2.9 3.8 2.6 7.2 4.5 5.5 4.4 4.8 4.3 2.4 3.4 4.8 3.3 2.7 1.9 5.6 4.1 6.8 -0.6 5.9 Durable goods...................... 4.8 -5.7 -6.1 5.6 5.1 6.0 6.1 7.2 7.6 5.5 6.8 10.1 0.8 5.3 9.4 10.7 1.8 3.4 4.4 6.1 15.4 7.4 8.1 6.6 9.4 5.0 2.9 3.2 6.6 10.4 7.1 1.9 8.7 7.7 12.7 -2.0 9.3 Nondurable goods................... 1.7 -1.6 -1.7 1.6 0.9 0.4 1.8 2.6 3.4 2.7 2.1 3.0 -0.5 0.2 0.0 5.4 -0.4 2.6 3.6 1.0 3.6 3.2 4.3 3.4 2.6 4.0 2.1 3.5 3.9 -0.1 0.6 1.9 4.0 2.3 4.0 0.1 4.2 Services............................. 1.9 1.3 -0.3 1.2 1.7 1.2 0.6 2.4 3.2 2.3 2.0 2.3 0.9 0.1 1.3 -0.3 0.3 1.0 3.3 1.0 3.0 4.4 4.3 3.1 2.7 2.2 2.2 2.0 2.8 2.4 2.5 1.7 1.7 1.4 2.6 1.0 3.1 Gross private domestic investment...... -2.5 -8.2 -21.2 14.1 6.6 11.0 6.9 5.4 4.8 -1.3 4.8 8.6 9.5 1.8 -3.5 15.8 4.6 16.4 1.5 -4.0 16.7 7.6 -0.3 12.8 2.0 -1.2 -5.8 -1.8 -1.0 -0.4 8.1 4.9 5.7 8.8 0.8 9.6 -0.5 Fixed investment..................... -1.2 -5.8 -16.0 3.1 7.1 10.0 5.6 6.3 3.4 1.7 4.8 13.1 8.3 0.6 7.4 7.0 3.3 7.1 5.5 3.7 10.5 8.2 4.3 0.0 3.7 3.1 -1.9 1.9 2.8 3.2 1.7 9.9 4.3 2.6 6.2 8.0 5.4 Nonresidential..................... 6.9 0.6 -14.5 4.5 8.7 9.5 4.1 6.9 1.8 0.5 5.3 10.6 9.3 -1.3 4.4 5.3 1.1 7.0 8.4 5.4 9.6 8.7 2.0 -1.8 2.0 1.1 -3.9 -1.2 3.8 4.6 0.0 9.6 7.3 3.4 4.8 11.5 7.3 Structures....................... 13.3 6.5 -18.7 -16.1 2.7 13.0 1.3 10.6 -3.0 -5.0 4.6 20.3 9.9 -4.5 -7.5 -8.5 12.3 21.8 3.6 14.1 14.0 1.1 6.7 -8.7 1.7 -13.9 -20.6 -4.0 3.3 12.6 -1.2 12.8 3.8 -5.7 1.3 13.9 13.3 Equipment........................ 4.0 -4.8 -21.2 20.2 13.4 11.0 4.7 6.7 3.1 -1.5 6.1 13.1 11.8 -1.2 8.2 7.2 -0.9 0.0 16.1 2.9 9.4 14.8 -5.6 4.4 0.8 7.3 -4.4 -6.4 0.1 0.1 0.9 9.1 9.7 9.8 9.9 8.5 3.9 Intellectual property products... 6.3 3.8 -0.5 2.7 6.2 5.0 5.4 4.3 3.7 7.5 4.6 0.8 5.2 0.8 8.1 12.9 -3.2 7.8 1.3 2.8 6.5 5.9 10.4 -5.0 4.0 4.6 11.1 8.7 9.6 5.5 -0.4 8.0 6.6 1.7 0.7 14.1 8.2 Residential........................ -18.7 -24.2 -21.7 -3.1 -0.1 13.0 12.4 3.9 10.1 6.5 3.3 26.5 3.5 10.7 22.5 15.3 13.4 7.4 -6.1 -3.5 14.4 6.3 14.9 7.5 11.0 11.4 5.8 13.7 -1.0 -1.7 7.7 11.1 -5.5 -0.5 11.1 -3.4 -1.1 Change in private inventories........ --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- Net exports of goods and services...... --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- Exports.............................. 8.7 5.7 -8.4 12.1 7.1 3.4 3.6 4.3 0.6 -0.1 3.0 2.5 4.4 2.1 -0.5 4.6 4.9 2.5 12.2 -2.1 8.3 1.4 4.7 -4.2 3.8 -3.5 -2.2 -2.4 3.4 6.1 -3.6 5.0 3.6 3.5 6.6 3.6 9.3 Goods.............................. 7.0 5.8 -11.9 15.0 7.1 3.8 3.2 4.6 -0.3 0.3 3.3 2.1 4.9 2.6 -3.8 3.1 6.6 2.6 16.7 -6.1 10.0 3.4 4.6 -9.4 6.5 -4.6 -4.8 0.2 3.6 7.7 -3.1 4.2 4.2 2.1 10.9 3.2 13.3 Services........................... 13.0 5.3 -0.3 6.3 7.3 2.4 4.5 3.6 2.4 -0.9 2.5 3.4 3.5 1.1 7.4 8.1 1.3 2.4 3.1 7.3 4.7 -2.8 5.0 7.4 -1.3 -1.3 2.8 -7.2 3.1 3.2 -4.6 6.4 2.6 6.3 -1.0 4.2 1.9 Imports.............................. 2.5 -2.2 -13.1 13.1 5.6 2.7 1.5 5.1 5.5 1.9 4.6 2.2 2.0 2.2 -3.8 1.2 5.9 2.9 2.2 5.1 10.4 0.6 11.0 6.6 3.2 4.1 -0.4 0.5 0.8 4.9 6.2 4.8 2.5 2.8 11.8 3.0 0.5 Goods.............................. 2.1 -3.4 -15.3 15.4 6.1 2.6 1.8 5.6 5.8 1.4 4.6 2.1 1.7 2.3 -4.2 1.8 6.4 3.2 2.4 6.1 11.0 0.6 11.7 7.8 3.6 3.1 -1.3 -0.4 1.1 4.2 6.4 4.9 2.4 2.5 14.2 2.4 1.0 Services........................... 4.9 3.9 -2.2 3.6 3.2 3.1 0.5 2.6 4.0 4.2 4.4 2.6 3.4 1.6 -2.0 -1.9 3.5 1.5 1.1 0.3 7.3 0.7 8.1 1.3 1.9 8.9 3.8 4.4 -0.7 7.9 5.7 4.5 3.1 4.4 2.0 5.5 -1.9 Government consumption expenditures and gross investment.................. 1.8 2.5 3.5 0.0 -3.1 -2.1 -2.4 -0.9 1.9 1.4 -0.1 -1.7 -2.1 -0.6 -3.9 -3.5 -0.7 -2.1 -3.1 -1.4 0.0 2.8 -0.4 2.3 4.0 1.9 0.7 3.4 -0.8 1.0 0.2 -0.8 0.0 -1.0 2.4 1.5 2.1 Federal.............................. 2.0 6.3 6.1 4.1 -2.6 -1.9 -5.5 -2.6 0.0 0.4 0.7 0.0 -3.2 0.8 -7.8 -8.9 -3.2 -5.7 -6.7 0.4 -3.8 4.7 -5.9 2.2 1.0 -0.6 2.3 0.2 -1.6 1.6 0.5 0.0 2.4 -1.3 4.1 2.6 3.5 National defense................... 2.8 6.9 5.7 2.9 -2.1 -3.4 -6.7 -4.2 -2.0 -0.6 0.7 -2.6 -4.8 1.0 -11.9 -9.4 -2.5 -7.9 -6.1 -3.5 -4.7 5.5 -11.0 0.0 0.8 -4.0 2.6 -1.1 -3.3 2.8 -1.2 -0.3 5.6 -2.9 2.9 3.0 5.5 Nondefense......................... 0.4 5.1 6.8 6.2 -3.4 0.9 -3.5 -0.1 3.1 1.9 0.8 4.7 -0.2 0.5 -0.2 -7.9 -4.4 -1.8 -7.6 7.0 -2.2 3.5 2.5 5.5 1.4 4.6 1.9 2.1 1.0 -0.1 3.0 0.4 -2.0 1.1 5.7 2.1 0.6 State and local...................... 1.7 0.2 1.9 -2.7 -3.5 -2.2 -0.3 0.1 3.0 2.0 -0.5 -2.9 -1.3 -1.6 -1.1 0.2 1.0 0.2 -0.7 -2.5 2.4 1.6 3.2 2.3 5.8 3.4 -0.3 5.4 -0.4 0.6 0.0 -1.2 -1.3 -0.9 1.4 0.9 1.4 Addenda: Final sales of domestic product...... 2.1 0.3 -1.7 1.1 1.6 2.1 1.6 2.6 2.6 2.1 2.2 3.8 1.5 0.3 2.2 2.3 0.3 1.7 3.9 0.3 4.1 5.0 2.7 1.2 3.7 1.7 1.1 2.2 2.9 2.5 0.7 2.6 2.8 1.8 3.2 1.9 5.1 Gross domestic purchases............. 1.3 -1.1 -3.5 3.0 1.5 2.2 1.6 2.6 3.6 1.8 2.5 3.1 1.4 0.6 -0.1 3.1 0.8 3.2 1.9 0.1 5.5 4.7 2.9 4.8 3.3 2.0 0.6 1.9 1.9 1.9 3.0 1.9 2.8 2.7 3.1 2.2 2.9 Final sales to domestic purchasers... 1.5 -0.7 -2.7 1.6 1.6 2.0 1.3 2.8 3.3 2.3 2.5 3.7 1.2 0.4 1.5 1.8 0.6 1.8 2.6 1.4 4.5 4.8 3.7 2.7 3.6 2.7 1.3 2.5 2.6 2.4 2.0 2.6 2.6 1.7 4.0 1.9 3.9 Final sales to private domestic purchasers.......................... 1.5 -1.4 -4.2 2.0 2.8 3.0 2.2 3.6 3.7 2.5 3.0 5.0 2.0 0.6 2.8 3.0 0.9 2.7 3.9 2.0 5.6 5.2 4.6 2.8 3.5 2.9 1.4 2.3 3.3 2.8 2.4 3.3 3.2 2.3 4.4 2.0 4.3 Gross domestic income (GDI)\1\....... 0.2 -1.3 -2.6 3.5 2.3 3.4 1.3 3.2 2.6 0.8 2.3 8.7 1.5 -2.2 3.9 0.4 2.4 0.3 2.8 3.1 5.0 4.8 2.9 2.9 1.3 1.0 0.3 1.5 -0.9 2.0 2.4 3.5 2.8 1.3 1.5 3.9 --- Average of GDP and GDI............... 1.1 -0.7 -2.6 3.0 1.9 2.8 1.6 2.8 2.7 1.2 2.2 5.9 1.6 -0.8 2.2 2.0 1.5 1.7 3.0 1.0 5.1 4.9 2.4 3.1 2.3 1.0 0.3 1.5 0.6 2.0 2.1 2.6 2.9 2.0 1.9 3.1 --- Gross national product (GNP)......... 2.3 0.1 -2.6 2.9 1.8 2.2 1.8 2.5 2.8 1.5 2.3 2.7 1.2 0.5 0.3 3.3 0.8 3.4 3.1 -0.9 4.8 5.4 1.1 3.5 3.0 0.9 0.7 0.9 2.4 1.6 2.8 1.5 2.6 3.6 2.6 2.2 --- Disposable personal income........... 2.3 1.0 -0.2 2.0 2.3 3.3 -1.3 4.0 4.1 1.7 2.6 7.7 3.7 -2.8 11.6 -15.1 3.0 1.7 1.6 6.2 4.9 4.5 5.0 5.0 3.1 3.4 0.9 2.7 -0.6 1.5 2.7 4.5 2.2 2.2 2.3 4.4 2.6 Current-dollar measures: GDP................................ 4.6 1.8 -1.8 3.8 3.7 4.2 3.6 4.4 4.0 2.7 4.2 5.8 3.3 2.6 2.5 5.3 1.7 5.2 5.7 0.5 7.8 6.9 2.7 3.0 5.7 2.4 0.5 1.2 5.1 3.5 3.9 3.9 4.2 4.8 5.1 4.3 7.4 Final sales of domestic product.... 4.9 2.2 -1.0 2.3 3.7 4.1 3.4 4.5 3.7 3.2 4.2 6.4 3.1 2.8 4.0 3.9 1.5 4.0 6.3 1.8 6.7 7.1 3.0 1.2 6.2 3.0 1.3 2.0 5.7 4.0 3.0 4.7 4.0 4.0 5.8 4.0 8.3 Gross domestic purchases........... 4.0 1.8 -3.8 4.4 4.0 4.0 3.0 4.4 3.9 2.6 4.3 5.9 2.4 1.6 2.4 4.6 1.4 4.7 4.2 2.1 7.5 6.2 3.3 3.1 4.8 3.2 0.2 1.2 4.4 3.5 5.0 4.2 3.9 4.4 6.0 4.8 5.4 Final sales to domestic purchasers........................ 4.3 2.2 -3.0 3.0 4.0 3.8 2.9 4.5 3.7 3.2 4.4 6.6 2.1 1.7 3.7 3.3 1.3 3.6 4.8 3.4 6.4 6.4 3.6 1.3 5.3 3.7 0.9 2.0 4.9 4.1 4.1 4.9 3.8 3.6 6.7 4.5 6.3 Final sales to private domestic purchasers........................ 3.8 1.1 -4.5 3.1 5.1 4.9 3.6 5.3 4.1 3.4 4.8 7.8 3.0 1.9 4.8 4.3 1.4 4.3 5.8 4.1 7.5 6.7 4.5 1.6 5.1 4.0 1.2 2.2 5.6 4.3 4.4 5.3 4.2 4.0 6.9 4.5 6.5 GDI................................ 2.9 0.7 -1.9 4.7 4.5 5.4 3.1 5.2 3.7 1.9 4.2 11.4 3.1 -0.2 6.0 2.1 3.6 2.2 5.3 4.6 7.7 6.8 3.7 2.6 3.7 2.5 0.4 1.1 1.8 3.5 4.5 5.6 4.0 3.2 4.2 6.0 --- Average of GDP and GDI............. 3.8 1.2 -1.8 4.2 4.1 4.8 3.4 4.8 3.8 2.3 4.2 8.6 3.2 1.2 4.3 3.6 2.6 3.7 5.5 2.5 7.7 6.9 3.2 2.8 4.7 2.5 0.4 1.2 3.4 3.5 4.2 4.8 4.1 4.0 4.7 5.1 --- GNP................................ 5.0 2.1 -1.9 4.1 3.9 4.1 3.6 4.4 3.8 2.6 4.3 5.3 2.8 2.6 2.4 4.9 2.0 5.4 5.5 0.6 7.5 7.4 1.9 3.1 5.3 2.4 0.9 0.5 5.3 3.1 4.9 3.6 3.8 5.6 5.3 4.2 --- Disposable personal income......... 4.9 4.0 -0.3 3.7 4.9 5.3 0.0 5.6 4.4 2.8 4.4 10.7 4.7 -1.7 14.1 -13.9 3.3 3.4 3.3 8.3 7.0 5.7 4.6 3.2 5.1 4.7 0.7 3.0 1.7 3.3 4.7 6.6 3.0 3.9 5.1 7.0 4.5 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Gross domestic income deflated by the implicit price deflator for gross domestic product. Source: U.S. Bureau of Economic Analysis Table 1A. Revisions to Current-Dollar Gross Domestic Product, National Income, and Disposition of Personal Income ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------Billions of dollars--------------------------------- ------------------Revisions as a percentage of previously published------------------ 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP)....... -25.8 -5.7 30.2 27.7 24.7 41.8 93.3 94.1 98.6 82.7 94.8 -0.2 0.0 0.2 0.2 0.2 0.3 0.6 0.5 0.5 0.4 0.5 Personal consumption expenditures...... -44.1 -37.3 -4.8 -16.4 -48.2 -43.8 -44.0 -39.6 -37.7 -53.8 -74.1 -0.5 -0.4 0.0 -0.2 -0.5 -0.4 -0.4 -0.3 -0.3 -0.4 -0.6 Goods................................ 5.5 -12.5 -18.4 -45.0 -78.3 -101.3 -104.5 -108.9 -113.5 -125.1 -139.2 0.2 -0.4 -0.6 -1.3 -2.2 -2.7 -2.7 -2.7 -2.8 -3.0 -3.2 Durable goods...................... 3.4 -3.5 -11.2 -21.7 -31.8 -47.6 -52.3 -54.0 -60.6 -64.4 -67.3 0.3 -0.3 -1.1 -2.0 -2.8 -4.0 -4.2 -4.2 -4.4 -4.6 -4.6 Nondurable goods................... 2.0 -9.0 -7.2 -23.3 -46.5 -53.7 -52.3 -54.9 -52.9 -60.7 -71.9 0.1 -0.4 -0.3 -1.0 -1.9 -2.1 -2.0 -2.1 -2.0 -2.2 -2.5 Services............................. -49.5 -24.8 13.7 28.6 30.2 57.5 60.6 69.3 75.8 71.3 65.1 -0.8 -0.4 0.2 0.4 0.4 0.8 0.8 0.9 0.9 0.8 0.7 Gross private domestic investment...... 29.3 52.8 51.5 64.7 92.7 110.1 119.7 122.5 118.4 112.7 155.1 1.1 2.2 2.7 3.1 4.1 4.4 4.4 4.2 3.8 3.7 4.8 Fixed investment..................... 29.8 50.0 54.7 72.3 88.2 100.6 107.6 116.0 101.6 118.8 145.3 1.1 2.0 2.7 3.5 4.0 4.1 4.1 4.1 3.4 3.9 4.5 Nonresidential..................... 27.9 49.9 57.0 76.8 95.4 110.9 117.1 126.0 113.4 125.8 138.3 1.5 2.6 3.5 4.6 5.3 5.5 5.6 5.6 4.9 5.4 5.6 Structures....................... 13.4 18.7 17.6 17.7 22.8 31.4 28.9 39.6 34.7 29.5 25.3 2.7 3.4 4.0 4.9 6.0 7.0 6.2 7.4 6.5 5.7 4.5 Equipment........................ 7.7 20.2 26.0 45.2 43.0 45.5 44.2 44.3 36.4 47.0 52.0 0.9 2.5 4.0 6.2 5.1 4.8 4.5 4.2 3.4 4.5 4.7 Intellectual property products... 6.9 11.0 13.4 13.8 29.5 34.0 44.0 42.1 42.3 49.4 61.0 1.3 1.9 2.4 2.4 5.0 5.5 6.8 6.2 5.9 6.5 7.7 Residential........................ 1.8 0.1 -2.2 -4.5 -7.2 -10.2 -9.6 -10.0 -11.8 -7.0 7.0 0.3 0.0 -0.6 -1.2 -1.9 -2.3 -1.8 -1.8 -1.8 -1.0 0.9 Change in private inventories........ -0.5 2.8 -3.2 -7.6 4.5 9.4 12.1 6.5 16.8 -6.1 9.8 --- --- --- --- --- --- --- --- --- --- --- Net exports of goods and services...... 0.1 0.0 -1.0 -1.2 0.5 -2.9 1.2 1.3 2.6 0.7 -6.9 --- --- --- --- --- --- --- --- --- --- --- Exports.............................. -3.8 -4.9 -5.7 -6.1 -3.4 -6.9 -3.2 -2.6 0.1 3.0 6.2 -0.2 -0.3 -0.4 -0.3 -0.2 -0.3 -0.1 -0.1 0.0 0.1 0.3 Goods.............................. -5.2 -6.3 -6.7 -7.2 -4.6 -4.4 -3.5 -3.0 -2.9 -3.4 -11.0 -0.4 -0.5 -0.6 -0.6 -0.3 -0.3 -0.2 -0.2 -0.2 -0.2 -0.7 Services........................... 1.4 1.4 0.9 1.1 1.2 -2.5 0.3 0.4 3.0 6.4 17.1 0.3 0.3 0.2 0.2 0.2 -0.4 0.0 0.1 0.4 0.8 2.1 Imports.............................. -3.9 -4.9 -4.7 -4.8 -3.9 -4.0 -4.4 -3.9 -2.5 2.3 13.0 -0.2 -0.2 -0.2 -0.2 -0.1 -0.1 -0.2 -0.1 -0.1 0.1 0.4 Goods.............................. -4.1 -5.1 -4.9 -5.0 -4.2 -4.4 -5.1 -4.6 -3.2 -3.3 -3.2 -0.2 -0.2 -0.3 -0.3 -0.2 -0.2 -0.2 -0.2 -0.1 -0.1 -0.1 Services........................... 0.2 0.2 0.2 0.2 0.3 0.4 0.7 0.7 0.7 5.6 16.3 0.1 0.1 0.0 0.0 0.1 0.1 0.2 0.1 0.1 1.1 3.0 Government consumption expenditures and gross investment.................. -11.1 -21.2 -15.6 -19.4 -20.4 -21.6 16.4 10.0 15.3 23.2 20.6 -0.4 -0.7 -0.5 -0.6 -0.6 -0.7 0.5 0.3 0.5 0.7 0.6 Federal.............................. 0.7 -5.0 0.5 -5.9 -4.5 -6.0 -2.9 -4.0 -3.1 0.7 4.5 0.1 -0.4 0.0 -0.5 -0.3 -0.5 -0.2 -0.3 -0.3 0.1 0.4 National defense................... 0.5 -3.8 -0.7 -4.8 -3.0 -3.6 -2.8 -3.1 -2.0 -1.6 -0.6 0.1 -0.5 -0.1 -0.6 -0.4 -0.4 -0.4 -0.4 -0.3 -0.2 -0.1 Nondefense......................... 0.2 -1.2 1.2 -1.2 -1.6 -2.3 -0.1 -0.9 -1.1 2.3 5.1 0.1 -0.3 0.3 -0.2 -0.3 -0.5 0.0 -0.2 -0.2 0.5 1.0 State and local...................... -11.8 -16.2 -16.1 -13.4 -15.9 -15.6 19.2 14.0 18.4 22.5 16.1 -0.7 -0.9 -0.9 -0.7 -0.8 -0.8 1.0 0.7 0.9 1.1 0.8 Relation of GDP and national income GDP.................................... -25.8 -5.7 30.2 27.7 24.7 41.8 93.3 94.1 98.6 82.7 94.8 -0.2 0.0 0.2 0.2 0.2 0.3 0.6 0.5 0.5 0.4 0.5 Plus: Income receipts from the rest of the world............................. -9.1 -8.1 -1.1 -4.8 -3.4 -1.8 -2.1 7.0 26.4 14.9 22.4 -1.0 -0.9 -0.2 -0.7 -0.4 -0.2 -0.3 0.8 3.2 1.8 2.4 Less: Income payments to the rest of the world............................. 7.5 9.3 8.0 5.4 6.8 3.4 11.4 -0.1 4.7 -3.4 -4.5 1.0 1.4 1.6 1.1 1.2 0.6 2.0 0.0 0.8 -0.5 -0.6 Equals: Gross national product......... -42.3 -23.1 21.1 17.4 14.4 36.5 79.8 101.3 120.3 101.0 121.7 -0.3 -0.2 0.1 0.1 0.1 0.2 0.5 0.6 0.7 0.5 0.6 Less: Consumption of fixed capital..... -11.5 -4.5 3.1 9.3 23.8 41.8 52.3 68.9 75.9 73.8 81.5 -0.5 -0.2 0.1 0.4 1.0 1.6 2.0 2.5 2.7 2.5 2.7 Less: Statistical discrepancy.......... 0.2 83.5 116.8 11.8 -14.9 -38.1 -22.4 -69.1 1.0 20.2 -106.0 --- --- --- --- --- --- --- --- --- --- --- Equals: National income................ -31.0 -102.1 -98.8 -3.7 5.5 32.8 49.9 101.4 43.4 6.9 146.2 -0.3 -0.8 -0.8 0.0 0.0 0.2 0.3 0.7 0.3 0.0 0.9 Compensation of employees............ -19.4 -21.3 -28.5 -36.5 -43.1 -43.2 -8.2 -8.4 -11.4 -22.4 97.9 -0.2 -0.3 -0.4 -0.5 -0.5 -0.5 -0.1 -0.1 -0.1 -0.2 0.9 Wages and salaries................. 1.6 2.4 -2.8 -5.4 -7.2 -2.8 -3.5 -3.6 -4.5 -4.6 100.6 0.0 0.0 0.0 -0.1 -0.1 0.0 0.0 0.0 -0.1 -0.1 1.2 Supplements to wages and salaries -21.0 -23.7 -25.7 -31.1 -35.9 -40.4 -4.7 -4.8 -6.9 -17.8 -2.7 -1.4 -1.5 -1.7 -2.0 -2.2 -2.4 -0.3 -0.3 -0.4 -0.9 -0.1 Proprietors' income with inventory valuation and capital consumption adjustments......................... 14.9 -65.5 -34.5 76.0 85.6 105.9 118.8 131.8 103.0 77.4 114.9 1.5 -6.4 -3.5 7.4 7.5 8.5 9.2 10.0 7.8 5.8 8.3 Rental income of persons with capital consumption adjustment...... -5.1 -5.4 -6.4 -8.5 -6.6 -7.3 -10.1 -3.3 -10.7 -12.5 -13.7 -2.7 -2.1 -1.9 -2.1 -1.4 -1.4 -1.8 -0.5 -1.6 -1.8 -1.8 Corporate profits with inventory valuation and capital consumption adjustments......................... 4.2 0.8 -10.2 -17.7 -6.9 -0.8 -22.2 -21.7 -60.2 -38.5 -65.4 0.3 0.1 -0.7 -1.0 -0.4 0.0 -1.1 -1.0 -2.8 -1.9 -3.0 Net interest and miscellaneous payments............................ -29.8 -21.0 -24.1 -24.2 -26.4 -24.0 -38.7 -17.1 8.4 -24.6 -10.1 -4.5 -3.0 -4.3 -4.9 -5.4 -4.6 -7.7 -3.2 1.4 -4.3 -1.7 Taxes on production and imports less subsidies........................... 2.3 7.8 0.7 6.0 1.2 4.1 13.3 19.3 14.1 15.7 17.1 0.2 0.8 0.1 0.6 0.1 0.4 1.2 1.7 1.2 1.3 1.3 Business current transfer payments (net)............................... -0.3 -0.4 -0.5 -1.6 -3.4 -5.8 -8.1 -6.0 -8.3 4.1 -0.6 -0.3 -0.4 -0.4 -1.3 -2.6 -5.6 -6.8 -4.3 -5.0 2.5 -0.4 Current surplus of government enterprises......................... 2.3 3.0 4.6 2.8 5.1 3.9 5.0 6.9 8.5 7.8 6.1 --- --- --- --- --- --- --- --- --- --- --- Disposition of personal income Personal income........................ 7.6 -60.0 -35.7 74.5 72.2 95.0 107.4 173.6 166.6 196.4 401.9 0.1 -0.5 -0.3 0.6 0.5 0.7 0.8 1.2 1.1 1.2 2.4 Compensation of employees............ -19.4 -21.3 -28.5 -36.5 -43.1 -43.2 -8.2 -8.4 -11.4 -22.4 97.9 -0.2 -0.3 -0.4 -0.5 -0.5 -0.5 -0.1 -0.1 -0.1 -0.2 0.9 Wages and salaries................. 1.6 2.4 -2.8 -5.4 -7.2 -2.8 -3.5 -3.6 -4.5 -4.6 100.6 0.0 0.0 0.0 -0.1 -0.1 0.0 0.0 0.0 -0.1 -0.1 1.2 Supplements to wages and salaries -21.0 -23.7 -25.7 -31.1 -35.9 -40.4 -4.7 -4.8 -6.9 -17.8 -2.7 -1.4 -1.5 -1.7 -2.0 -2.2 -2.4 -0.3 -0.3 -0.4 -0.9 -0.1 Proprietors' income with inventory valuation and capital consumption adjustments......................... 14.9 -65.5 -34.5 76.0 85.6 105.9 118.8 131.8 103.0 77.4 114.9 1.5 -6.4 -3.5 7.4 7.5 8.5 9.2 10.0 7.8 5.8 8.3 Farm............................... 2.2 -6.8 -7.4 -7.0 -10.7 -0.7 0.6 1.9 2.7 -5.7 3.8 5.6 -14.4 -20.8 -15.3 -14.1 -1.1 0.6 2.8 5.0 -13.3 10.8 Nonfarm............................ 12.7 -58.8 -27.1 83.0 96.3 106.6 118.3 129.9 100.4 83.1 111.2 1.4 -6.0 -2.9 8.4 9.0 9.0 9.9 10.4 7.9 6.4 8.2 Rental income of persons with capital consumption adjustment...... -5.1 -5.4 -6.4 -8.5 -6.6 -7.3 -10.1 -3.3 -10.7 -12.5 -13.7 -2.7 -2.1 -1.9 -2.1 -1.4 -1.4 -1.8 -0.5 -1.6 -1.8 -1.8 Personal income receipts on assets... 17.2 33.8 34.3 42.7 37.0 41.9 10.2 56.1 84.2 138.8 189.2 0.8 1.6 1.9 2.5 1.9 2.0 0.5 2.5 3.5 5.8 7.7 Personal interest income........... 18.4 34.6 35.0 43.4 37.8 41.7 11.4 44.5 70.8 25.6 45.9 1.4 2.5 2.8 3.6 3.1 3.2 0.9 3.4 5.2 1.8 3.1 Personal dividend income........... -1.2 -0.8 -0.8 -0.7 -0.7 0.2 -1.1 11.5 13.4 113.2 143.3 -0.2 -0.1 -0.1 -0.1 -0.1 0.0 -0.1 1.2 1.3 11.8 14.8 Personal current transfer receipts... 0.0 -1.5 -0.8 0.5 -1.8 -3.3 -3.7 -4.1 -1.3 9.7 9.6 0.0 -0.1 0.0 0.0 -0.1 -0.1 -0.2 -0.2 0.0 0.4 0.3 Less: Contributions for government social insurance, domestic.......... 0.0 0.1 -0.1 -0.4 -1.1 -1.0 -0.3 -1.5 -2.7 -5.5 -4.0 0.0 0.0 0.0 0.0 -0.1 -0.1 0.0 -0.1 -0.2 -0.4 -0.3 Less: Personal current taxes........... -1.0 -0.6 -0.2 -2.0 0.0 -2.5 -2.0 -0.2 -2.7 -5.9 -14.0 -0.1 0.0 0.0 -0.2 0.0 -0.2 -0.1 0.0 -0.1 -0.3 -0.7 Equals: Disposable personal income..... 8.6 -59.4 -35.5 76.5 72.2 97.5 109.4 173.8 169.3 202.3 415.9 0.1 -0.5 -0.3 0.7 0.6 0.8 0.9 1.3 1.2 1.4 2.9 Less: Personal outlays................. -73.3 -67.6 -34.5 -34.4 -67.5 -63.4 -71.8 -57.7 -46.5 -65.4 -83.6 -0.7 -0.6 -0.3 -0.3 -0.6 -0.6 -0.6 -0.5 -0.4 -0.5 -0.6 Equals: Personal saving................ 81.8 8.2 -0.9 110.9 139.7 160.9 181.3 231.5 215.8 267.6 499.4 --- --- --- --- --- --- --- --- --- --- --- Personal saving as a percentage of disposable personal income.......... 0.8 0.1 0.0 0.9 1.2 1.3 1.4 1.6 1.5 1.8 3.3 --- --- --- --- --- --- --- --- --- --- --- Addenda: Gross domestic income (GDI)............ -26.0 -89.2 -86.6 15.9 39.6 79.8 115.7 163.2 97.6 62.5 200.8 -0.2 -0.6 -0.6 0.1 0.3 0.5 0.7 0.9 0.5 0.3 1.0 Average of GDP and GDI................. -25.9 -47.5 -28.2 21.8 32.1 60.8 104.5 128.7 98.1 72.6 147.8 -0.2 -0.3 -0.2 0.1 0.2 0.4 0.6 0.7 0.5 0.4 0.8 Statistical discrepancy as a percentage of GDP..................... 0.0 0.5 0.8 0.1 -0.1 -0.2 -0.2 -0.4 0.0 0.1 -0.5 --- --- --- --- --- --- --- --- --- --- --- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Source: U.S. Bureau of Economic Analysis Table 2. Contributions to Percent Change in Real Gross Domestic Product -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 -------------------------------------------------------------------------------------Seasonally adjusted at annual rates------------------------------------------------------------------------------------- -------------2012------------- -------------2013------------- -------------2014------------- -------------2015------------- -------------2016------------- -------------2017------------- -----2018----- Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Percent change at annual rate: Gross domestic product.............. 1.9 -0.1 -2.5 2.6 1.6 2.2 1.8 2.5 2.9 1.6 2.2 3.2 1.7 0.5 0.5 3.6 0.5 3.2 3.2 -1.0 5.1 4.9 1.9 3.3 3.3 1.0 0.4 1.5 2.3 1.9 1.8 1.8 3.0 2.8 2.3 2.2 4.1 Percentage points at annual rates: Personal consumption expenditures....... 1.49 -0.14 -0.85 1.20 1.29 1.03 0.99 1.97 2.50 1.85 1.73 2.19 0.41 0.45 1.22 1.44 0.20 1.10 2.31 1.02 2.92 2.98 3.10 2.36 2.28 1.91 1.52 1.62 2.30 1.79 1.75 1.22 1.95 1.52 2.64 0.36 2.69 Goods................................. 0.65 -0.71 -0.70 0.62 0.49 0.48 0.70 0.88 1.02 0.77 0.78 1.15 -0.01 0.40 0.64 1.55 0.07 0.64 0.83 0.56 1.56 0.98 1.18 0.94 1.02 0.91 0.51 0.72 1.01 0.70 0.58 0.40 1.17 0.86 1.42 -0.13 1.24 Durable goods....................... 0.39 -0.46 -0.45 0.39 0.35 0.41 0.42 0.50 0.53 0.39 0.48 0.69 0.05 0.36 0.64 0.73 0.13 0.24 0.30 0.42 1.02 0.51 0.55 0.46 0.65 0.35 0.21 0.23 0.46 0.71 0.50 0.13 0.60 0.54 0.87 -0.15 0.64 Motor vehicles and parts.......... 0.06 -0.35 -0.16 0.09 0.07 0.17 0.11 0.15 0.18 0.08 0.11 0.31 -0.01 0.08 0.34 0.21 0.00 -0.09 0.01 0.17 0.44 0.13 0.17 0.21 0.33 -0.02 -0.10 -0.01 0.13 0.34 0.25 -0.22 0.08 0.21 0.40 -0.35 0.20 Furnishings and durable household equipment........................ 0.02 -0.12 -0.17 0.09 0.06 0.04 0.09 0.12 0.12 0.11 0.12 0.10 -0.06 0.02 0.08 0.14 0.09 0.15 0.06 0.05 0.27 0.10 0.09 0.09 0.12 0.15 0.11 0.11 0.11 0.13 0.05 0.13 0.14 0.14 0.18 0.03 0.11 Recreational goods and vehicles... 0.26 0.04 -0.08 0.16 0.18 0.16 0.17 0.15 0.15 0.17 0.19 0.18 0.10 0.17 0.17 0.30 0.05 0.14 0.09 0.13 0.19 0.21 0.19 0.09 0.11 0.18 0.13 0.17 0.20 0.19 0.16 0.19 0.29 0.05 0.22 0.13 0.16 Other durable goods............... 0.06 -0.04 -0.04 0.05 0.04 0.05 0.05 0.09 0.08 0.02 0.07 0.09 0.03 0.09 0.05 0.08 -0.01 0.04 0.14 0.06 0.12 0.07 0.10 0.07 0.09 0.05 0.06 -0.05 0.01 0.06 0.05 0.04 0.10 0.14 0.07 0.04 0.17 Nondurable goods.................... 0.26 -0.24 -0.25 0.24 0.14 0.07 0.28 0.39 0.49 0.38 0.30 0.46 -0.07 0.03 0.00 0.82 -0.06 0.40 0.53 0.15 0.54 0.47 0.63 0.48 0.37 0.56 0.30 0.49 0.55 -0.01 0.08 0.27 0.56 0.32 0.55 0.02 0.59 Food and beverages purchased for off-premises consumption......... 0.07 -0.09 -0.04 0.08 0.01 0.05 0.06 0.10 0.07 0.18 0.12 0.14 0.12 0.03 0.05 0.07 -0.05 0.16 0.15 0.13 0.03 0.09 0.07 0.12 0.04 0.06 0.06 0.27 0.36 0.11 0.12 0.06 0.05 0.16 0.29 0.11 0.12 Clothing and footwear............. 0.05 -0.02 -0.11 0.10 0.07 0.00 0.01 0.04 0.07 0.04 0.05 0.11 -0.16 0.13 -0.07 0.09 0.00 -0.04 0.02 -0.02 0.15 0.05 0.14 0.03 0.06 0.08 0.03 0.04 0.04 0.07 -0.04 -0.01 0.15 0.04 0.17 -0.15 0.16 Gasoline and other energy goods... 0.00 -0.10 0.01 -0.01 -0.06 -0.04 0.05 0.00 0.09 0.01 -0.02 -0.07 0.08 -0.06 -0.11 0.21 0.08 0.00 0.07 -0.08 -0.06 0.03 0.17 0.19 0.01 0.08 -0.03 0.14 -0.12 -0.04 -0.05 -0.03 0.11 -0.05 -0.02 -0.05 0.05 Other nondurable goods............ 0.15 -0.03 -0.12 0.07 0.11 0.05 0.16 0.25 0.26 0.15 0.15 0.28 -0.11 -0.06 0.13 0.45 -0.10 0.28 0.28 0.12 0.42 0.30 0.25 0.14 0.27 0.33 0.24 0.05 0.27 -0.15 0.05 0.25 0.26 0.17 0.12 0.11 0.25 Services.............................. 0.84 0.56 -0.15 0.57 0.80 0.55 0.29 1.09 1.48 1.08 0.95 1.05 0.42 0.05 0.58 -0.11 0.14 0.47 1.49 0.46 1.36 2.00 1.91 1.41 1.26 1.00 1.02 0.90 1.29 1.09 1.17 0.82 0.79 0.65 1.22 0.49 1.46 Household consumption expenditures (for services)..................... 0.79 0.31 -0.22 0.51 0.71 0.37 0.26 1.09 1.55 1.01 0.96 0.82 0.03 -0.01 0.28 0.16 0.13 0.43 1.51 0.46 1.26 1.99 2.12 1.67 1.30 0.83 0.83 0.93 1.34 0.78 1.26 0.89 0.82 0.77 1.14 0.24 1.27 Housing and utilities............. 0.12 0.13 0.14 0.16 0.17 0.02 0.06 0.23 0.27 0.16 0.08 -0.40 0.46 0.14 -0.25 0.23 -0.09 -0.05 0.46 0.49 -0.04 0.05 0.55 0.51 0.01 0.28 -0.03 0.17 0.35 0.26 -0.17 -0.13 0.36 0.04 0.27 0.07 0.30 Health care....................... 0.24 0.25 0.23 0.17 0.17 0.21 0.07 0.35 0.64 0.46 0.36 0.62 -0.14 0.01 0.21 -0.23 0.29 0.11 0.45 -0.33 0.82 0.82 0.86 0.65 0.41 0.48 0.35 0.48 0.84 -0.19 0.87 0.25 0.04 0.60 0.28 0.16 0.40 Transportation services........... 0.03 -0.08 -0.15 0.01 0.09 0.04 0.09 0.11 0.09 0.08 0.07 -0.10 0.20 -0.01 0.02 0.15 0.18 0.08 -0.02 0.25 0.04 0.16 0.00 0.11 0.12 0.04 0.10 0.08 0.05 0.11 0.16 -0.04 0.07 0.07 0.23 -0.02 0.02 Recreation services............... 0.10 0.01 -0.03 0.08 -0.01 0.07 0.05 0.06 0.11 0.06 0.06 0.15 0.16 0.05 0.14 0.03 -0.08 0.14 0.04 0.10 -0.09 0.18 0.17 0.11 0.11 -0.01 0.26 -0.04 -0.10 0.15 0.19 0.08 0.01 -0.05 -0.05 0.05 0.08 Food services and accommodations 0.06 -0.03 -0.14 0.10 0.11 0.10 0.08 0.15 0.19 0.10 0.03 0.14 0.10 0.08 0.14 0.17 -0.18 0.06 0.30 0.01 0.25 0.20 0.26 0.10 0.31 0.07 0.15 0.06 0.16 0.05 -0.06 0.12 -0.05 0.04 -0.01 0.10 0.32 Financial services and insurance 0.14 0.10 -0.09 0.01 0.13 -0.07 -0.03 0.03 0.15 -0.09 0.14 0.07 -0.40 -0.16 -0.15 0.20 0.02 -0.13 0.11 -0.13 0.08 0.27 0.10 0.29 0.18 -0.13 0.00 -0.28 -0.19 0.16 -0.02 0.38 0.05 0.16 0.11 -0.06 0.06 Other services.................... 0.09 -0.08 -0.17 -0.02 0.04 0.00 -0.06 0.17 0.10 0.23 0.23 0.34 -0.34 -0.11 0.16 -0.39 0.00 0.22 0.16 0.08 0.20 0.31 0.18 -0.10 0.15 0.09 0.00 0.48 0.22 0.25 0.29 0.24 0.33 -0.10 0.31 -0.06 0.10 Final consumption expenditures of nonprofit institutions serving households......................... 0.05 0.25 0.07 0.06 0.09 0.18 0.03 0.00 -0.07 0.07 -0.01 0.22 0.39 0.06 0.31 -0.27 0.00 0.04 -0.02 -0.01 0.09 0.01 -0.21 -0.26 -0.04 0.17 0.19 -0.03 -0.05 0.31 -0.09 -0.07 -0.03 -0.11 0.07 0.25 0.19 Gross output of nonprofit institutions..................... 0.16 0.26 0.18 0.15 0.15 0.26 0.05 0.13 0.13 0.27 0.13 0.63 -0.04 0.40 0.06 -0.22 0.17 0.03 0.25 -0.35 0.51 0.36 0.25 -0.02 -0.06 0.06 0.31 0.31 0.44 0.27 0.26 0.07 -0.19 0.25 0.08 0.09 0.24 Less: Receipts from sales of goods and services by nonprofit institutions..................... 0.11 0.01 0.11 0.09 0.05 0.08 0.03 0.13 0.21 0.20 0.14 0.41 -0.43 0.34 -0.24 0.05 0.16 -0.01 0.27 -0.34 0.42 0.35 0.46 0.24 -0.02 -0.11 0.12 0.35 0.49 -0.04 0.35 0.14 -0.16 0.36 0.00 -0.17 0.05 Gross private domestic investment....... -0.48 -1.52 -3.52 1.86 0.94 1.64 1.11 0.90 0.83 -0.24 0.81 1.32 1.47 0.29 -0.58 2.43 0.75 2.60 0.27 -0.68 2.71 1.32 -0.05 2.15 0.37 -0.22 -1.04 -0.31 -0.17 -0.07 1.30 0.80 0.95 1.47 0.14 1.61 -0.06 Fixed investment...................... -0.24 -1.05 -2.70 0.44 0.99 1.47 0.87 1.02 0.57 0.29 0.81 1.90 1.25 0.09 1.13 1.10 0.52 1.12 0.89 0.60 1.69 1.35 0.72 -0.01 0.63 0.51 -0.33 0.31 0.46 0.52 0.28 1.60 0.72 0.44 1.04 1.34 0.94 Nonresidential...................... 0.89 0.08 -1.95 0.52 1.00 1.16 0.54 0.90 0.24 0.06 0.68 1.30 1.16 -0.18 0.57 0.69 0.14 0.90 1.08 0.71 1.27 1.15 0.26 -0.25 0.27 0.14 -0.53 -0.16 0.50 0.59 0.00 1.20 0.94 0.45 0.63 1.47 0.98 Structures........................ 0.42 0.23 -0.72 -0.50 0.07 0.34 0.04 0.32 -0.10 -0.16 0.13 0.53 0.28 -0.14 -0.23 -0.25 0.33 0.59 0.11 0.42 0.44 0.04 0.21 -0.31 0.05 -0.48 -0.70 -0.12 0.09 0.35 -0.04 0.36 0.11 -0.18 0.04 0.40 0.39 Equipment......................... 0.25 -0.29 -1.22 0.92 0.69 0.62 0.28 0.41 0.19 -0.09 0.35 0.73 0.68 -0.07 0.48 0.44 -0.05 0.00 0.92 0.17 0.57 0.87 -0.36 0.27 0.05 0.43 -0.27 -0.40 0.01 0.01 0.05 0.50 0.55 0.56 0.56 0.49 0.23 Information processing equipment...................... 0.28 0.11 -0.10 0.31 0.10 0.18 0.12 0.10 0.13 0.08 0.22 0.45 0.15 -0.15 0.23 0.32 -0.03 0.09 0.10 0.03 0.25 0.03 0.11 0.08 0.13 0.28 0.09 -0.12 0.12 0.17 0.14 0.30 0.27 0.20 0.18 0.22 0.24 Industrial equipment............ 0.04 -0.06 -0.29 0.00 0.21 0.10 -0.02 0.05 0.00 -0.01 0.08 -0.05 0.12 -0.18 0.11 -0.05 -0.06 0.04 -0.07 0.11 0.15 0.12 -0.16 0.02 0.06 -0.06 0.03 -0.12 0.05 0.01 0.06 0.07 0.15 0.08 0.06 0.08 -0.07 Transportation equipment........ -0.06 -0.28 -0.55 0.46 0.26 0.21 0.14 0.16 0.16 -0.10 -0.06 0.21 0.25 0.01 0.19 0.21 0.11 0.01 0.27 0.09 0.19 0.39 -0.16 0.41 0.05 0.28 -0.27 -0.12 -0.09 -0.21 -0.17 -0.02 -0.07 0.13 0.14 0.20 -0.02 Other equipment................. -0.02 -0.07 -0.28 0.14 0.13 0.12 0.03 0.11 -0.10 -0.06 0.11 0.11 0.15 0.25 -0.06 -0.04 -0.07 -0.13 0.62 -0.06 -0.03 0.33 -0.14 -0.23 -0.19 -0.06 -0.13 -0.04 -0.06 0.03 0.02 0.16 0.19 0.15 0.19 0.00 0.08 Intellectual property products.... 0.23 0.14 -0.02 0.11 0.24 0.20 0.22 0.18 0.15 0.31 0.20 0.04 0.21 0.03 0.32 0.50 -0.14 0.31 0.05 0.11 0.27 0.24 0.41 -0.21 0.17 0.18 0.44 0.36 0.39 0.23 -0.02 0.33 0.28 0.08 0.03 0.58 0.35 Software........................ 0.14 0.12 0.05 0.06 0.16 0.17 0.09 0.10 0.08 0.14 0.17 0.12 0.23 0.02 0.18 0.20 -0.19 0.19 0.09 0.10 0.16 0.15 0.02 0.10 0.07 0.02 0.12 0.18 0.18 0.14 0.13 0.20 0.22 0.20 -0.05 0.31 0.12 Research and development........ 0.11 0.05 -0.05 0.01 0.08 0.02 0.13 0.07 0.04 0.17 0.03 -0.10 -0.02 0.02 0.13 0.31 0.04 0.13 -0.03 0.02 0.10 0.07 0.35 -0.34 0.07 0.14 0.31 0.18 0.23 0.07 -0.16 0.13 0.06 -0.12 0.06 0.27 0.23 Entertainment, literary, and artistic originals............. -0.01 -0.03 -0.02 0.04 0.00 0.01 0.00 0.00 0.03 0.01 0.01 0.02 0.00 0.00 0.00 0.00 0.01 -0.01 -0.01 -0.01 0.00 0.02 0.04 0.03 0.03 0.03 0.01 -0.01 -0.01 0.03 0.01 0.00 0.00 0.00 0.01 0.01 0.00 Residential......................... -1.13 -1.14 -0.74 -0.08 0.00 0.31 0.34 0.12 0.33 0.23 0.13 0.60 0.09 0.27 0.56 0.41 0.37 0.22 -0.20 -0.11 0.43 0.20 0.45 0.24 0.35 0.37 0.20 0.47 -0.04 -0.06 0.28 0.41 -0.22 -0.02 0.41 -0.14 -0.04 Change in private inventories......... -0.25 -0.46 -0.83 1.42 -0.05 0.17 0.23 -0.12 0.25 -0.53 0.00 -0.59 0.21 0.20 -1.70 1.33 0.23 1.48 -0.62 -1.28 1.02 -0.03 -0.77 2.16 -0.25 -0.73 -0.70 -0.62 -0.62 -0.59 1.03 -0.80 0.23 1.04 -0.91 0.27 -1.00 Farm................................ 0.03 -0.01 -0.05 -0.03 0.08 -0.10 0.19 -0.08 0.03 -0.03 0.00 -0.26 -0.13 -0.18 0.05 0.60 0.36 0.06 -0.02 -0.52 0.07 0.08 -0.03 0.15 -0.06 -0.03 -0.03 -0.18 0.16 0.02 -0.11 -0.02 0.03 0.02 -0.01 -0.01 0.03 Nonfarm............................. -0.27 -0.45 -0.78 1.46 -0.14 0.27 0.05 -0.04 0.23 -0.50 0.00 -0.33 0.35 0.38 -1.75 0.73 -0.13 1.43 -0.59 -0.76 0.95 -0.11 -0.73 2.02 -0.20 -0.70 -0.68 -0.44 -0.78 -0.62 1.14 -0.78 0.19 1.02 -0.89 0.28 -1.02 Net exports of goods and services....... 0.53 1.04 1.13 -0.49 -0.01 0.00 0.22 -0.25 -0.78 -0.30 -0.31 0.00 0.27 -0.08 0.57 0.40 -0.33 -0.14 1.23 -1.08 -0.51 0.12 -1.08 -1.58 -0.01 -1.05 -0.21 -0.36 0.29 0.03 -1.32 -0.10 0.08 0.01 -0.89 -0.02 1.06 Exports............................... 0.93 0.66 -1.01 1.35 0.90 0.46 0.48 0.58 0.08 -0.01 0.36 0.36 0.60 0.28 -0.08 0.60 0.63 0.33 1.57 -0.29 1.11 0.20 0.62 -0.56 0.48 -0.44 -0.28 -0.31 0.39 0.71 -0.44 0.59 0.44 0.42 0.79 0.43 1.12 Goods............................... 0.53 0.48 -1.00 1.12 0.61 0.36 0.30 0.42 -0.03 0.03 0.26 0.22 0.46 0.24 -0.38 0.27 0.58 0.23 1.44 -0.59 0.90 0.32 0.42 -0.86 0.54 -0.39 -0.40 0.00 0.26 0.58 -0.24 0.33 0.33 0.17 0.83 0.26 1.04 Services............................ 0.40 0.18 -0.01 0.23 0.28 0.10 0.18 0.15 0.10 -0.04 0.10 0.14 0.14 0.04 0.30 0.33 0.06 0.10 0.13 0.30 0.20 -0.12 0.21 0.30 -0.06 -0.05 0.12 -0.31 0.13 0.13 -0.20 0.26 0.11 0.25 -0.04 0.18 0.08 Imports............................... -0.41 0.38 2.14 -1.84 -0.91 -0.46 -0.26 -0.83 -0.85 -0.28 -0.67 -0.36 -0.33 -0.36 0.65 -0.20 -0.96 -0.47 -0.34 -0.79 -1.62 -0.08 -1.70 -1.02 -0.49 -0.61 0.07 -0.06 -0.10 -0.68 -0.88 -0.69 -0.36 -0.41 -1.68 -0.45 -0.06 Goods............................... -0.28 0.49 2.08 -1.74 -0.82 -0.38 -0.25 -0.75 -0.74 -0.17 -0.55 -0.29 -0.24 -0.32 0.59 -0.26 -0.86 -0.43 -0.31 -0.78 -1.42 -0.06 -1.48 -0.99 -0.44 -0.38 0.17 0.06 -0.11 -0.47 -0.73 -0.57 -0.28 -0.29 -1.62 -0.30 -0.12 Services............................ -0.12 -0.10 0.06 -0.10 -0.09 -0.09 -0.01 -0.07 -0.11 -0.11 -0.12 -0.07 -0.09 -0.04 0.06 0.05 -0.10 -0.04 -0.03 -0.01 -0.20 -0.02 -0.22 -0.03 -0.05 -0.23 -0.10 -0.12 0.02 -0.21 -0.15 -0.12 -0.09 -0.12 -0.06 -0.15 0.05 Government consumption expenditures and gross investment....................... 0.34 0.48 0.70 0.00 -0.66 -0.42 -0.47 -0.18 0.33 0.25 -0.01 -0.34 -0.41 -0.12 -0.76 -0.68 -0.13 -0.40 -0.58 -0.26 0.00 0.51 -0.07 0.40 0.70 0.33 0.12 0.60 -0.15 0.17 0.03 -0.13 0.01 -0.18 0.41 0.27 0.37 Federal............................... 0.14 0.46 0.47 0.35 -0.23 -0.16 -0.44 -0.19 0.00 0.03 0.05 0.01 -0.25 0.07 -0.63 -0.71 -0.24 -0.43 -0.50 0.03 -0.27 0.33 -0.42 0.15 0.07 -0.04 0.16 0.02 -0.10 0.11 0.03 0.00 0.16 -0.08 0.26 0.17 0.22 National defense.................... 0.13 0.33 0.29 0.16 -0.12 -0.18 -0.34 -0.19 -0.08 -0.02 0.03 -0.13 -0.25 0.05 -0.63 -0.47 -0.12 -0.38 -0.28 -0.16 -0.21 0.23 -0.49 0.00 0.03 -0.16 0.10 -0.04 -0.13 0.11 -0.05 -0.01 0.21 -0.11 0.11 0.11 0.21 Consumption expenditures.......... 0.07 0.24 0.25 0.15 -0.06 -0.12 -0.26 -0.13 -0.07 -0.01 -0.02 -0.02 -0.25 0.11 -0.53 -0.35 -0.05 -0.40 -0.22 0.07 -0.30 0.26 -0.48 0.11 -0.05 -0.11 0.06 -0.01 -0.07 0.11 -0.06 -0.10 0.07 -0.08 0.09 0.12 0.19 Gross investment.................. 0.07 0.08 0.04 0.01 -0.05 -0.06 -0.07 -0.06 -0.01 -0.01 0.05 -0.11 0.00 -0.06 -0.10 -0.12 -0.07 0.02 -0.06 -0.23 0.09 -0.03 -0.01 -0.11 0.08 -0.05 0.05 -0.03 -0.06 0.00 0.01 0.09 0.14 -0.03 0.02 0.00 0.02 Nondefense.......................... 0.01 0.13 0.18 0.19 -0.11 0.03 -0.10 0.00 0.08 0.05 0.02 0.14 0.00 0.02 -0.01 -0.24 -0.12 -0.05 -0.22 0.18 -0.06 0.09 0.07 0.15 0.04 0.12 0.05 0.06 0.03 0.00 0.08 0.01 -0.05 0.03 0.15 0.06 0.02 Consumption expenditures.......... 0.00 0.11 0.15 0.12 -0.11 0.03 -0.06 -0.01 0.07 0.04 0.01 0.13 -0.01 0.04 -0.01 -0.11 -0.07 -0.04 -0.19 0.17 -0.08 0.08 0.03 0.14 0.02 0.11 0.06 0.04 0.00 0.00 0.07 0.00 -0.07 0.04 0.11 0.08 0.02 Gross investment.................. 0.01 0.02 0.03 0.07 0.00 -0.01 -0.05 0.00 0.02 0.01 0.01 0.01 0.00 -0.03 0.00 -0.13 -0.05 -0.01 -0.02 0.02 0.02 0.02 0.04 0.00 0.02 0.01 0.00 0.02 0.02 0.00 0.01 0.01 0.02 -0.01 0.03 -0.03 0.00 State and local....................... 0.20 0.02 0.23 -0.35 -0.44 -0.26 -0.03 0.02 0.34 0.22 -0.06 -0.34 -0.15 -0.18 -0.13 0.03 0.11 0.03 -0.08 -0.28 0.26 0.18 0.35 0.26 0.63 0.37 -0.03 0.58 -0.04 0.07 0.00 -0.13 -0.15 -0.10 0.15 0.10 0.15 Consumption expenditures............ 0.18 0.02 0.26 -0.26 -0.33 -0.15 0.02 0.02 0.25 0.18 0.00 -0.12 -0.07 -0.02 -0.02 0.11 0.06 -0.01 -0.02 -0.11 0.09 0.11 0.26 0.30 0.30 0.27 0.19 0.21 0.14 0.14 -0.02 -0.07 -0.04 -0.01 -0.01 0.02 0.06 Gross investment.................... 0.03 0.01 -0.02 -0.09 -0.10 -0.11 -0.06 0.00 0.09 0.04 -0.06 -0.22 -0.08 -0.17 -0.11 -0.08 0.06 0.04 -0.06 -0.17 0.18 0.07 0.09 -0.05 0.33 0.10 -0.22 0.37 -0.18 -0.08 0.02 -0.07 -0.10 -0.09 0.16 0.08 0.09 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Source: U.S. Bureau of Economic Analysis Table 3A. Gross Domestic Product and Related Measures [Billions of dollars] --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 --------------------------------------------------------------------------------------------------Seasonally adjusted at annual rates-------------------------------------------------------------------------------------------------- ---------------2012--------------- ---------------2013--------------- ---------------2014--------------- ---------------2015--------------- ---------------2016--------------- ---------------2017--------------- ------2018------ Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP)...... 14,451.9 14,712.8 14,448.9 14,992.1 15,542.6 16,197.0 16,784.9 17,521.7 18,219.3 18,707.2 19,485.4 16,019.8 16,152.3 16,257.2 16,358.9 16,569.6 16,637.9 16,848.7 17,083.1 17,102.9 17,425.8 17,719.8 17,838.5 17,970.4 18,221.3 18,331.1 18,354.4 18,409.1 18,640.7 18,799.6 18,979.2 19,162.6 19,359.1 19,588.1 19,831.8 20,041.0 20,402.5 Personal consumption expenditures....... 9,706.4 9,976.3 9,842.2 10,185.8 10,641.1 11,006.8 11,317.2 11,824.0 12,294.5 12,766.9 13,321.4 10,922.4 10,964.9 11,014.2 11,125.7 11,223.2 11,239.6 11,330.9 11,475.1 11,573.9 11,756.0 11,920.7 12,045.5 12,095.6 12,256.7 12,380.7 12,445.1 12,526.5 12,706.5 12,845.2 12,989.4 13,114.1 13,233.2 13,359.1 13,579.2 13,679.6 13,877.2 Goods................................. 3,367.0 3,363.2 3,180.0 3,317.8 3,518.1 3,637.7 3,730.0 3,861.5 3,919.7 3,996.3 4,156.1 3,628.7 3,616.4 3,631.8 3,674.1 3,731.6 3,699.3 3,730.4 3,758.6 3,788.1 3,860.9 3,896.3 3,900.8 3,859.1 3,922.7 3,956.8 3,940.1 3,932.2 3,990.3 4,013.9 4,048.8 4,090.4 4,117.1 4,166.0 4,250.9 4,267.7 4,334.1 Durable goods....................... 1,188.0 1,098.8 1,012.1 1,049.0 1,093.5 1,144.2 1,189.4 1,242.4 1,306.6 1,346.6 1,406.5 1,138.1 1,133.6 1,141.7 1,163.6 1,188.8 1,185.5 1,188.9 1,194.5 1,202.6 1,239.6 1,256.4 1,270.8 1,281.4 1,308.3 1,317.2 1,319.3 1,323.7 1,336.3 1,357.7 1,368.7 1,375.6 1,393.4 1,411.2 1,445.7 1,434.5 1,461.6 Motor vehicles and parts.......... 400.6 343.3 318.6 344.5 365.2 396.6 417.5 442.3 473.9 483.7 498.2 390.8 391.0 394.7 409.8 418.6 418.2 416.2 417.1 423.0 442.3 448.8 455.2 463.5 480.2 479.1 472.7 471.3 474.9 489.6 499.0 489.1 489.7 497.7 516.4 498.5 507.5 Furnishings and durable household equipment........................ 283.5 264.3 238.3 240.9 246.9 253.9 263.6 274.2 288.1 301.3 315.4 255.2 252.2 253.0 255.4 260.5 262.2 265.7 266.0 265.9 274.1 277.2 279.6 281.2 286.6 290.8 293.9 297.7 300.6 303.2 303.5 309.8 312.9 316.3 322.6 324.1 332.0 Recreational goods and vehicles... 339.2 328.1 297.5 298.6 305.4 311.8 321.6 331.4 343.6 357.3 378.1 311.0 309.9 311.7 314.6 323.1 319.6 321.6 321.9 323.9 329.5 334.2 338.0 337.6 340.6 345.7 350.6 352.7 356.5 359.9 360.2 368.2 378.2 379.9 386.3 388.5 391.9 Other durable goods............... 164.8 163.0 157.7 165.0 176.1 181.9 186.7 194.5 201.0 204.3 214.7 181.0 180.4 182.2 183.8 186.5 185.5 185.4 189.5 189.8 193.7 196.2 198.1 199.2 200.9 201.7 202.3 201.9 204.3 205.0 206.1 208.5 212.6 217.3 220.4 223.4 230.2 Nondurable goods.................... 2,179.0 2,264.5 2,167.9 2,268.9 2,424.6 2,493.5 2,540.6 2,619.2 2,613.1 2,649.7 2,749.6 2,490.6 2,482.8 2,490.1 2,510.5 2,542.8 2,513.9 2,541.4 2,564.1 2,585.5 2,621.2 2,639.9 2,630.0 2,577.7 2,614.4 2,639.5 2,620.8 2,608.5 2,654.0 2,656.3 2,680.1 2,714.8 2,723.7 2,754.8 2,805.2 2,833.2 2,872.5 Food and beverages purchased for off-premises consumption......... 737.3 769.1 772.9 786.9 819.5 846.2 864.0 897.6 921.0 944.2 965.8 839.1 845.4 847.4 852.9 859.3 857.9 866.2 872.6 882.8 893.3 903.3 911.2 917.3 916.6 923.8 926.5 934.4 946.7 946.5 949.3 953.2 959.5 967.9 982.6 988.3 997.3 Clothing and footwear............. 323.5 317.4 304.0 316.6 332.6 345.2 350.5 358.0 366.3 373.0 379.7 345.1 342.5 346.2 347.1 352.0 349.6 349.5 351.1 350.4 358.2 359.6 363.8 363.0 365.3 368.5 368.3 370.8 372.8 375.1 373.3 375.3 378.5 380.2 384.7 385.5 394.1 Gasoline and other energy goods... 345.5 391.1 287.0 336.7 413.8 421.9 418.2 403.3 309.2 274.9 307.0 425.8 417.0 418.1 426.9 431.8 408.8 415.2 417.1 422.0 416.1 406.0 369.2 303.5 323.0 322.1 288.1 260.0 275.3 273.0 291.3 307.1 292.6 301.0 327.3 340.6 345.9 Other nondurable goods............ 772.6 786.9 803.9 828.7 858.7 880.2 907.8 960.2 1,016.6 1,057.6 1,097.2 880.6 878.0 878.5 883.6 899.8 897.6 910.5 923.3 930.3 953.7 971.0 985.9 993.9 1,009.5 1,025.2 1,037.9 1,043.2 1,059.2 1,061.7 1,066.2 1,079.2 1,093.2 1,105.8 1,110.5 1,118.8 1,135.1 Services.............................. 6,339.4 6,613.1 6,662.2 6,868.0 7,123.0 7,369.1 7,587.2 7,962.5 8,374.8 8,770.6 9,165.3 7,293.7 7,348.5 7,382.4 7,451.7 7,491.6 7,540.3 7,600.6 7,716.5 7,785.8 7,895.2 8,024.5 8,144.7 8,236.4 8,334.0 8,424.0 8,505.0 8,594.3 8,716.2 8,831.2 8,940.6 9,023.7 9,116.1 9,193.1 9,328.3 9,411.9 9,543.2 Household consumption expenditures (for services)..................... 6,090.6 6,325.8 6,373.0 6,573.6 6,811.1 7,027.5 7,234.6 7,596.3 8,007.8 8,378.4 8,761.9 6,968.4 7,007.9 7,040.2 7,093.7 7,145.5 7,187.3 7,244.9 7,360.9 7,425.7 7,527.9 7,654.7 7,776.8 7,877.7 7,974.0 8,054.2 8,125.2 8,212.4 8,332.9 8,430.0 8,538.2 8,620.5 8,710.4 8,791.9 8,924.9 8,992.5 9,114.5 Housing and utilities............. 1,758.2 1,835.4 1,877.7 1,903.9 1,955.9 1,996.3 2,055.3 2,154.5 2,257.9 2,353.0 2,447.8 1,967.3 1,994.4 2,009.8 2,013.8 2,034.9 2,045.6 2,054.0 2,086.5 2,128.4 2,140.9 2,156.0 2,192.8 2,231.0 2,243.7 2,272.2 2,284.6 2,306.2 2,341.1 2,375.1 2,389.4 2,402.4 2,438.2 2,458.2 2,492.6 2,515.6 2,548.9 Health care....................... 1,478.2 1,555.3 1,632.7 1,699.6 1,757.1 1,821.3 1,858.2 1,938.3 2,062.5 2,171.6 2,271.2 1,811.2 1,814.2 1,823.4 1,836.5 1,838.3 1,848.2 1,859.1 1,887.4 1,877.6 1,918.1 1,959.8 1,997.8 2,024.6 2,049.5 2,078.4 2,097.5 2,123.3 2,170.0 2,171.9 2,221.1 2,238.2 2,248.7 2,284.6 2,313.2 2,331.0 2,361.6 Transportation services........... 307.6 312.7 297.4 305.2 328.4 341.1 359.9 383.2 399.3 417.8 437.0 334.4 343.7 342.0 344.1 351.7 357.6 364.4 366.0 375.4 379.9 387.7 389.8 393.3 398.7 400.3 404.9 410.6 413.9 419.1 427.5 427.4 432.9 435.5 452.3 450.1 455.6 Recreation services............... 375.6 389.1 388.4 403.7 409.0 430.8 447.1 465.8 493.5 516.1 541.8 420.2 428.4 433.4 441.1 444.0 440.8 449.5 454.0 461.0 459.1 467.8 475.4 482.4 491.4 493.5 506.8 508.1 508.9 518.2 528.9 539.0 541.2 543.3 543.6 549.0 553.9 Food services and accommodations 601.5 620.2 612.7 635.7 669.5 704.9 732.3 776.6 832.7 873.5 897.3 692.0 701.7 708.7 717.3 727.4 725.2 731.4 745.0 750.7 769.2 784.2 802.4 812.2 829.5 837.7 851.3 859.8 872.3 880.2 881.6 891.7 894.1 898.8 904.6 914.2 938.7 Financial services and insurance 737.2 756.6 711.3 754.4 797.9 820.1 858.4 908.7 963.1 989.1 1,060.4 826.1 816.5 816.1 821.9 838.6 854.7 859.0 881.1 884.6 899.8 920.6 929.8 947.3 966.2 968.5 970.3 969.1 978.1 1,000.0 1,009.4 1,029.3 1,050.8 1,066.9 1,094.4 1,102.5 1,115.8 Other services.................... 832.4 856.6 852.9 871.1 893.3 913.0 923.5 969.0 998.8 1,057.4 1,106.5 917.3 909.0 906.8 919.0 910.6 915.1 927.5 940.8 947.8 960.9 978.6 988.8 986.8 995.0 1,003.5 1,009.9 1,035.2 1,048.7 1,065.4 1,080.3 1,092.4 1,104.6 1,104.6 1,124.3 1,130.1 1,140.0 Final consumption expenditures of nonprofit institutions serving households......................... 248.8 287.3 289.2 294.4 311.9 341.5 352.6 366.2 367.1 392.2 403.4 325.3 340.6 342.3 358.0 346.1 353.0 355.7 355.6 360.1 367.2 369.8 367.9 358.7 360.0 369.7 379.8 381.9 383.3 401.2 402.3 403.3 405.7 401.2 403.4 419.4 428.7 Gross output of nonprofit institutions..................... 983.1 1,047.4 1,088.3 1,128.6 1,173.5 1,236.5 1,271.7 1,322.3 1,372.8 1,452.0 1,511.5 1,219.9 1,224.4 1,246.0 1,255.7 1,253.5 1,267.2 1,274.1 1,292.0 1,285.6 1,314.3 1,335.8 1,353.5 1,359.8 1,365.5 1,374.5 1,391.4 1,413.0 1,442.2 1,464.9 1,487.8 1,499.6 1,499.4 1,517.0 1,530.0 1,544.6 1,562.1 Less: Receipts from sales of goods and services by nonprofit institutions..................... 734.4 760.1 799.1 834.2 861.7 895.0 919.1 956.1 1,005.7 1,059.8 1,108.1 894.6 883.8 903.7 897.8 907.5 914.2 918.4 936.4 925.5 947.1 966.0 985.7 1,001.1 1,005.4 1,004.8 1,011.6 1,031.1 1,058.9 1,063.7 1,085.5 1,096.3 1,093.7 1,115.8 1,126.6 1,125.2 1,133.4 Gross private domestic investment....... 2,673.0 2,477.6 1,929.7 2,165.5 2,332.6 2,621.8 2,826.0 3,038.9 3,212.0 3,169.9 3,368.0 2,567.8 2,636.9 2,644.1 2,638.3 2,738.2 2,775.3 2,880.0 2,910.5 2,901.6 3,028.8 3,099.0 3,126.3 3,216.8 3,225.9 3,229.6 3,175.5 3,142.1 3,152.2 3,157.7 3,227.6 3,278.6 3,337.9 3,413.9 3,441.4 3,543.8 3,575.9 Fixed investment...................... 2,639.1 2,506.9 2,080.4 2,111.6 2,286.3 2,550.5 2,721.5 2,954.4 3,083.2 3,140.9 3,342.5 2,487.5 2,545.5 2,559.7 2,609.5 2,656.0 2,687.5 2,743.8 2,798.7 2,845.5 2,926.7 3,002.9 3,042.7 3,052.1 3,081.7 3,109.3 3,089.9 3,094.1 3,127.1 3,157.2 3,185.4 3,270.6 3,320.8 3,358.5 3,420.0 3,507.4 3,581.9 Nonresidential...................... 1,948.6 1,990.9 1,690.4 1,735.0 1,907.5 2,118.5 2,211.5 2,394.3 2,449.7 2,442.1 2,587.9 2,073.4 2,126.2 2,126.0 2,148.6 2,170.9 2,180.3 2,220.7 2,274.0 2,314.5 2,376.2 2,434.0 2,452.6 2,447.5 2,458.0 2,463.0 2,430.3 2,409.8 2,435.6 2,458.4 2,464.7 2,525.2 2,576.7 2,607.0 2,642.6 2,720.3 2,782.5 Structures........................ 510.3 571.1 455.8 379.8 404.5 479.4 492.5 577.1 572.2 545.7 585.4 470.1 488.1 484.7 474.9 463.0 480.0 507.5 519.5 546.7 574.1 585.2 602.3 589.0 589.9 570.9 539.0 531.2 539.7 555.1 556.7 577.5 588.3 585.3 590.6 614.9 641.5 Equipment......................... 893.4 845.4 670.3 777.0 881.3 983.4 1,027.0 1,090.8 1,118.3 1,090.9 1,150.4 957.8 984.4 984.3 1,007.1 1,022.8 1,018.0 1,016.5 1,050.9 1,057.5 1,082.7 1,119.4 1,103.6 1,114.9 1,114.6 1,130.2 1,113.7 1,092.8 1,091.4 1,090.2 1,089.3 1,112.3 1,137.4 1,162.8 1,189.1 1,212.6 1,227.0 Information processing equipment...................... 310.9 306.3 275.6 307.5 313.3 331.2 341.7 345.7 353.2 354.3 381.9 331.0 333.6 325.9 334.5 345.2 339.6 341.0 340.9 339.9 348.5 346.8 347.8 347.5 350.1 357.8 357.4 349.0 353.1 356.3 358.8 368.5 379.0 386.5 393.7 401.9 411.8 Industrial equipment............ 194.1 194.3 153.7 155.2 191.5 211.2 209.3 218.9 218.6 215.0 231.3 209.3 214.8 207.7 213.1 211.4 208.5 209.9 207.2 212.8 219.8 225.2 217.7 218.4 220.5 217.4 218.0 212.2 214.2 215.3 218.1 222.1 230.1 234.6 238.5 243.9 242.1 Transportation equipment........ 188.8 148.7 74.9 135.8 177.8 215.3 242.5 272.2 304.9 290.5 284.3 204.3 214.7 216.0 226.2 235.1 240.5 241.7 252.5 257.2 266.9 284.7 280.0 299.0 301.9 315.4 303.3 298.8 295.2 287.5 280.5 282.4 279.4 285.0 290.4 300.7 301.6 Other equipment................. 199.6 196.1 166.1 178.5 198.7 225.7 233.6 254.0 241.7 231.1 252.9 213.3 221.3 234.7 233.4 231.1 229.3 223.9 250.2 247.6 247.6 262.7 258.0 250.0 242.2 239.6 235.0 232.7 228.8 231.0 231.9 239.2 249.0 256.8 266.4 266.1 271.5 Intellectual property products.... 544.8 574.4 564.4 578.2 621.7 655.7 691.9 726.4 759.2 805.5 852.0 645.4 653.7 657.0 666.6 685.1 682.3 696.7 703.6 710.3 719.3 729.4 746.7 743.6 753.4 762.0 777.6 785.8 804.5 813.2 818.7 835.4 850.9 858.9 862.9 892.7 914.0 Software........................ 206.4 223.8 226.0 226.4 249.8 272.1 283.7 297.5 307.3 327.5 352.9 266.0 272.3 272.0 277.9 285.8 277.6 284.5 286.8 290.9 296.0 301.7 301.6 304.5 305.7 307.2 311.7 319.0 325.5 330.0 335.4 342.7 353.5 359.7 355.9 370.3 376.6 Research and development........ 268.0 284.2 274.6 282.4 303.4 313.4 337.9 357.6 374.8 398.8 417.9 309.5 311.3 314.6 318.4 329.2 334.2 341.7 346.6 349.4 352.8 356.1 372.1 364.1 370.9 376.9 387.4 388.1 400.1 403.7 403.2 412.1 416.5 417.8 425.0 439.7 454.0 Entertainment, literary, and artistic originals............. 70.4 66.4 63.7 69.4 68.6 70.2 70.3 71.3 77.1 79.3 81.2 69.9 70.1 70.3 70.4 70.2 70.5 70.5 70.2 70.1 70.5 71.6 73.0 75.1 76.8 77.9 78.5 78.7 78.9 79.5 80.0 80.6 80.9 81.4 82.0 82.7 83.5 Residential......................... 690.5 516.0 390.0 376.6 378.8 432.0 510.0 560.1 633.6 698.8 754.6 414.1 419.3 433.7 460.9 485.1 507.2 523.1 524.6 531.0 550.5 568.9 590.1 604.6 623.7 646.3 659.6 684.2 691.5 698.8 720.8 745.5 744.1 751.5 777.4 787.2 799.4 Change in private inventories......... 34.0 -29.2 -150.8 53.9 46.3 71.2 104.5 84.5 128.7 28.9 25.5 80.3 91.4 84.4 28.7 82.3 87.8 136.2 111.9 56.1 102.1 96.1 83.7 164.7 144.3 120.3 85.6 48.0 25.1 0.5 42.1 8.0 17.1 55.4 21.5 36.3 -6.0 Farm................................ 0.6 -0.5 -6.7 -12.2 -2.1 -18.7 11.7 -3.2 1.6 -5.0 -5.0 -6.4 -15.4 -29.9 -23.1 2.4 15.0 17.4 11.9 -6.2 -1.9 -1.3 -3.6 5.0 1.3 0.0 0.0 -10.2 -1.9 -1.1 -6.6 -6.8 -5.4 -3.6 -4.2 -1.9 -2.1 Nonfarm............................. 33.3 -28.7 -144.1 66.1 48.3 89.9 92.8 87.7 127.1 33.9 30.5 86.7 106.8 114.3 51.8 79.9 72.7 118.8 100.0 62.3 104.0 97.3 87.3 159.6 143.0 120.4 85.6 58.3 27.0 1.6 48.7 14.8 22.5 59.0 25.7 38.2 -3.9 Net exports of goods and services....... -718.4 -723.1 -396.5 -513.9 -579.5 -568.6 -490.8 -508.3 -521.4 -520.6 -578.4 -615.1 -580.5 -540.8 -537.8 -516.9 -508.9 -496.3 -441.1 -511.7 -510.0 -489.8 -521.5 -530.4 -499.0 -536.2 -520.1 -522.2 -496.2 -503.7 -560.2 -576.6 -571.9 -557.3 -607.9 -639.2 -552.4 Exports............................... 1,660.9 1,837.1 1,582.0 1,846.3 2,103.0 2,191.3 2,273.4 2,371.0 2,265.0 2,217.6 2,350.2 2,164.6 2,192.1 2,201.8 2,206.6 2,239.2 2,250.7 2,269.4 2,334.4 2,338.3 2,386.1 2,388.4 2,371.4 2,286.6 2,303.2 2,259.2 2,211.2 2,165.6 2,206.6 2,252.5 2,245.6 2,294.1 2,316.3 2,358.3 2,432.0 2,477.4 2,568.9 Goods............................... 1,161.3 1,292.5 1,058.4 1,272.4 1,462.3 1,521.6 1,559.2 1,614.9 1,494.4 1,442.7 1,535.9 1,507.4 1,524.9 1,533.3 1,520.8 1,534.9 1,542.2 1,552.6 1,607.1 1,593.8 1,627.8 1,630.7 1,607.2 1,515.3 1,531.6 1,489.7 1,440.9 1,402.3 1,434.1 1,469.4 1,464.9 1,497.3 1,510.8 1,536.7 1,598.8 1,628.1 1,705.6 Services............................ 499.6 544.5 523.6 573.8 640.7 669.7 714.2 756.1 770.7 774.9 814.3 657.2 667.2 668.5 685.9 704.3 708.5 716.8 727.3 744.4 758.3 757.6 764.2 771.3 771.6 769.5 770.3 763.3 772.5 783.2 780.7 796.9 805.4 821.6 833.2 849.3 863.2 Imports............................... 2,379.3 2,560.1 1,978.4 2,360.2 2,682.5 2,759.9 2,764.2 2,879.3 2,786.5 2,738.1 2,928.6 2,779.7 2,772.6 2,742.6 2,744.5 2,756.0 2,759.6 2,765.7 2,775.5 2,850.0 2,896.0 2,878.2 2,892.9 2,817.0 2,802.2 2,795.4 2,731.3 2,687.8 2,702.7 2,756.3 2,805.8 2,870.7 2,888.2 2,915.5 3,039.9 3,116.6 3,121.3 Goods............................... 1,999.7 2,144.3 1,585.4 1,944.8 2,240.5 2,301.4 2,296.4 2,391.5 2,287.3 2,221.0 2,378.5 2,326.4 2,314.2 2,282.3 2,282.7 2,294.5 2,293.8 2,296.8 2,300.4 2,372.0 2,408.5 2,388.8 2,396.5 2,324.3 2,306.6 2,292.1 2,226.4 2,177.7 2,191.7 2,236.1 2,278.4 2,336.1 2,344.6 2,358.9 2,474.6 2,537.1 2,539.2 Services............................ 379.6 415.9 393.1 415.4 441.9 458.5 467.8 487.8 499.1 517.2 550.0 453.3 458.4 460.3 461.8 461.5 465.8 468.9 475.1 478.0 487.5 489.4 496.4 492.7 495.6 503.3 505.0 510.2 511.0 520.2 527.3 534.6 543.6 556.7 565.3 579.4 582.1 Government consumption expenditures and gross investment....................... 2,790.8 2,982.0 3,073.5 3,154.6 3,148.4 3,137.0 3,132.4 3,167.0 3,234.2 3,291.0 3,374.4 3,144.7 3,131.0 3,139.6 3,132.7 3,125.0 3,132.0 3,134.1 3,138.5 3,139.1 3,150.9 3,189.9 3,188.2 3,188.5 3,237.6 3,257.0 3,253.8 3,262.7 3,278.2 3,300.5 3,322.4 3,346.4 3,360.0 3,372.3 3,419.1 3,456.8 3,501.8 Federal............................... 1,050.5 1,150.6 1,218.2 1,297.9 1,298.9 1,286.5 1,226.6 1,214.2 1,220.9 1,232.2 1,265.2 1,295.6 1,288.2 1,293.3 1,269.1 1,240.0 1,232.3 1,218.4 1,215.6 1,213.2 1,207.2 1,226.8 1,209.5 1,214.5 1,221.0 1,221.4 1,226.6 1,223.5 1,225.4 1,235.9 1,244.1 1,252.4 1,264.0 1,263.8 1,280.6 1,294.8 1,312.5 National defense.................... 679.3 750.3 787.6 828.0 834.0 814.2 764.2 742.5 729.5 727.3 743.9 824.1 816.0 820.2 796.4 775.3 770.9 757.0 753.6 746.7 740.0 752.5 730.9 729.5 732.7 726.5 729.6 724.8 722.4 730.6 731.5 734.9 746.7 743.1 750.7 759.0 772.0 Consumption expenditures.......... 528.1 583.2 614.3 651.8 662.0 650.3 611.2 597.8 587.0 587.2 594.0 658.3 649.9 656.1 637.1 620.8 618.9 603.5 601.6 603.9 593.7 607.4 586.1 588.8 588.7 584.5 585.9 583.2 583.3 591.3 591.0 590.1 595.2 592.3 598.5 606.6 618.2 Gross investment.................. 151.1 167.1 173.3 176.2 172.0 163.8 153.0 144.8 142.6 140.1 149.9 165.7 166.2 164.1 159.3 154.6 152.0 153.4 152.0 142.8 146.3 145.2 144.8 140.7 144.0 141.9 143.6 141.5 139.1 139.3 140.5 144.9 151.5 150.8 152.3 152.4 153.8 Nondefense.......................... 371.2 400.2 430.6 469.9 465.0 472.4 462.4 471.6 491.3 504.9 521.3 471.5 472.1 473.1 472.7 464.7 461.4 461.4 461.9 466.5 467.2 474.2 478.7 485.0 488.3 495.0 497.0 498.7 502.9 505.3 512.7 517.5 517.3 520.7 529.8 535.8 540.5 Consumption expenditures.......... 272.4 295.7 321.3 348.9 341.3 348.9 345.7 352.6 368.9 380.3 392.8 348.1 348.2 349.9 349.5 346.7 345.2 345.1 345.9 349.1 348.7 354.9 357.5 363.4 365.8 371.9 374.3 375.6 378.5 380.7 386.7 390.4 388.9 392.4 399.5 406.0 409.9 Gross investment.................. 98.9 104.6 109.4 121.0 123.7 123.5 116.6 119.1 122.5 124.5 128.5 123.5 123.9 123.2 123.2 117.9 116.3 116.3 116.0 117.4 118.4 119.3 121.1 121.5 122.5 123.1 122.7 123.1 124.4 124.6 126.0 127.1 128.4 128.3 130.4 129.8 130.6 State and local....................... 1,740.3 1,831.4 1,855.3 1,856.7 1,849.4 1,850.5 1,905.8 1,952.9 2,013.3 2,058.8 2,109.2 1,849.0 1,842.9 1,846.3 1,863.7 1,885.0 1,899.6 1,915.7 1,923.0 1,925.9 1,943.8 1,963.2 1,978.6 1,974.0 2,016.6 2,035.5 2,027.2 2,039.2 2,052.9 2,064.7 2,078.3 2,093.9 2,096.0 2,108.5 2,138.5 2,162.0 2,189.3 Consumption expenditures............ 1,398.3 1,473.5 1,495.0 1,509.5 1,508.5 1,516.7 1,575.1 1,614.9 1,656.9 1,691.9 1,744.5 1,511.4 1,505.9 1,514.2 1,535.4 1,558.8 1,569.5 1,582.3 1,589.7 1,598.3 1,607.0 1,621.7 1,632.5 1,630.1 1,656.2 1,669.6 1,671.6 1,667.5 1,686.2 1,701.5 1,712.5 1,728.8 1,733.6 1,747.5 1,768.0 1,784.4 1,801.4 Gross investment.................... 342.0 357.9 360.3 347.3 341.0 333.7 330.8 338.0 356.5 366.8 364.8 337.6 337.0 332.1 328.3 326.2 330.1 333.4 333.2 327.6 336.7 341.5 346.1 343.9 360.4 365.9 355.6 371.7 366.7 363.2 365.8 365.2 362.4 361.1 370.5 377.6 387.8 Addenda: Final sales of domestic product....... 14,417.9 14,742.1 14,599.7 14,938.1 15,496.3 16,125.8 16,680.3 17,437.3 18,090.6 18,678.2 19,459.9 15,939.5 16,060.9 16,172.7 16,330.1 16,487.3 16,550.2 16,712.5 16,971.3 17,046.8 17,323.7 17,623.8 17,754.8 17,805.8 18,077.0 18,210.8 18,268.8 18,361.1 18,615.6 18,799.2 18,937.1 19,154.6 19,342.1 19,532.7 19,810.4 20,004.7 20,408.5 Gross domestic purchases.............. 15,170.3 15,435.9 14,845.4 15,506.0 16,122.0 16,765.6 17,275.6 18,030.0 18,740.7 19,227.8 20,063.8 16,634.9 16,732.8 16,798.0 16,896.7 17,086.5 17,146.9 17,345.0 17,524.2 17,614.7 17,935.7 18,209.7 18,360.0 18,500.8 18,720.3 18,867.3 18,874.5 18,931.3 19,136.9 19,303.4 19,539.4 19,739.1 19,931.1 20,145.3 20,439.7 20,680.2 20,954.9 Final sales to domestic purchasers.... 15,136.3 15,465.2 14,996.2 15,452.0 16,075.8 16,694.4 17,171.1 17,945.5 18,612.0 19,198.8 20,038.3 16,554.6 16,641.4 16,713.6 16,868.0 17,004.2 17,059.1 17,208.8 17,412.3 17,558.5 17,833.6 18,113.6 18,276.3 18,336.1 18,576.0 18,747.0 18,788.9 18,883.3 19,111.8 19,302.9 19,497.3 19,731.1 19,914.0 20,089.9 20,418.3 20,643.9 20,960.9 Final sales to private domestic purchasers........................... 12,345.5 12,483.2 11,922.6 12,297.4 12,927.4 13,557.4 14,038.7 14,778.5 15,377.8 15,907.8 16,663.9 13,409.9 13,510.3 13,573.9 13,735.3 13,879.1 13,927.1 14,074.7 14,273.8 14,419.4 14,682.7 14,923.7 15,088.1 15,147.7 15,338.4 15,490.0 15,535.0 15,620.6 15,833.6 16,002.4 16,174.9 16,384.7 16,554.0 16,717.6 16,999.2 17,187.0 17,459.1 GDP................................... 14,451.9 14,712.8 14,448.9 14,992.1 15,542.6 16,197.0 16,784.9 17,521.7 18,219.3 18,707.2 19,485.4 16,019.8 16,152.3 16,257.2 16,358.9 16,569.6 16,637.9 16,848.7 17,083.1 17,102.9 17,425.8 17,719.8 17,838.5 17,970.4 18,221.3 18,331.1 18,354.4 18,409.1 18,640.7 18,799.6 18,979.2 19,162.6 19,359.1 19,588.1 19,831.8 20,041.0 20,402.5 Plus: Income receipts from the rest of the world......................... 866.6 848.8 647.8 715.2 789.2 799.7 823.4 854.2 839.3 859.1 957.1 810.4 787.6 800.5 800.3 809.4 821.8 827.7 834.8 842.7 849.9 871.9 852.1 835.7 854.8 853.9 812.8 828.7 860.7 854.5 892.6 899.3 924.9 979.6 1,024.5 1,063.2 --- Less: Income payments to the rest of the world............................ 757.6 694.2 505.8 519.5 552.8 567.4 592.7 612.5 613.1 643.8 713.4 562.1 559.4 571.8 576.1 595.3 593.5 586.0 595.9 597.5 612.8 612.3 627.3 603.4 635.5 635.3 578.0 624.6 648.2 656.6 645.8 666.6 708.7 724.6 753.7 794.4 --- Equals: Gross national product........ 14,560.9 14,867.5 14,590.9 15,187.8 15,779.0 16,429.3 17,015.6 17,763.4 18,445.5 18,922.5 19,729.1 16,268.0 16,380.4 16,485.8 16,583.0 16,783.7 16,866.2 17,090.5 17,322.0 17,348.1 17,662.9 17,979.5 18,063.3 18,202.7 18,440.6 18,549.7 18,589.2 18,613.3 18,853.3 18,997.5 19,226.0 19,395.3 19,575.4 19,843.0 20,102.6 20,309.8 --- Net domestic product.................. 12,199.1 12,354.0 12,077.5 12,601.1 13,068.1 13,621.0 14,103.6 14,704.8 15,301.8 15,716.7 16,369.2 13,483.2 13,587.8 13,666.1 13,746.9 13,934.5 13,973.7 14,154.6 14,351.7 14,334.5 14,627.5 14,885.2 14,971.9 15,084.0 15,313.7 15,400.2 15,409.4 15,455.6 15,661.2 15,798.2 15,951.8 16,097.6 16,258.1 16,453.3 16,667.9 16,837.6 17,150.3 Gross domestic income (GDI)........... 14,434.2 14,530.0 14,256.8 14,931.0 15,595.8 16,438.4 16,945.2 17,820.8 18,474.2 18,834.1 19,628.6 16,287.9 16,413.0 16,405.8 16,646.8 16,731.6 16,880.3 16,974.3 17,194.5 17,389.8 17,713.6 18,006.6 18,173.0 18,289.6 18,454.5 18,568.1 18,584.8 18,637.1 18,720.9 18,884.8 19,093.6 19,357.4 19,545.9 19,702.5 19,908.5 20,200.5 --- Average of GDP and GDI................ 14,443.0 14,621.4 14,352.9 14,961.5 15,569.2 16,317.7 16,865.0 17,671.3 18,346.8 18,770.7 19,557.0 16,153.8 16,282.6 16,331.5 16,502.8 16,650.6 16,759.1 16,911.5 17,138.8 17,246.3 17,569.7 17,863.2 18,005.7 18,130.0 18,337.9 18,449.6 18,469.6 18,523.1 18,680.8 18,842.2 19,036.4 19,260.0 19,452.5 19,645.3 19,870.2 20,120.8 --- --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Source: U.S. Bureau of Economic Analysis Table 3B. Real Gross Domestic Product and Related Measures [Billions of chained (2012) dollars] ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 --------------------------------------------------------------------------------------------------Seasonally adjusted at annual rates-------------------------------------------------------------------------------------------------- ---------------2012--------------- ---------------2013--------------- ---------------2014--------------- ---------------2015--------------- ---------------2016--------------- ---------------2017--------------- ------2018------ Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP)....... 15,626.0 15,604.7 15,208.8 15,598.8 15,840.7 16,197.0 16,495.4 16,899.8 17,386.7 17,659.2 18,050.7 16,129.4 16,198.8 16,220.7 16,239.1 16,383.0 16,403.2 16,531.7 16,663.6 16,621.7 16,830.1 17,033.6 17,113.9 17,254.7 17,397.0 17,438.8 17,456.2 17,523.4 17,622.5 17,706.7 17,784.2 17,863.0 17,995.2 18,120.8 18,223.8 18,324.0 18,507.2 Personal consumption expenditures........ 10,615.3 10,592.8 10,460.0 10,643.0 10,843.8 11,006.8 11,166.9 11,494.3 11,921.9 12,248.2 12,558.7 10,973.3 10,989.6 11,007.5 11,056.9 11,114.2 11,122.2 11,167.4 11,263.6 11,307.3 11,428.7 11,554.2 11,687.1 11,788.4 11,887.5 11,972.0 12,039.7 12,111.8 12,214.1 12,294.3 12,372.7 12,427.6 12,515.9 12,584.9 12,706.4 12,722.8 12,847.8 Goods.................................. 3,607.6 3,498.9 3,389.8 3,485.7 3,561.8 3,637.7 3,752.2 3,902.9 4,087.7 4,236.1 4,391.9 3,623.8 3,623.1 3,639.1 3,665.0 3,728.0 3,730.7 3,757.4 3,792.8 3,817.6 3,884.9 3,928.0 3,981.1 4,024.3 4,071.9 4,115.2 4,139.5 4,174.6 4,223.9 4,258.5 4,287.2 4,307.3 4,366.0 4,410.2 4,483.9 4,477.0 4,541.8 Durable goods........................ 1,099.7 1,036.4 973.0 1,027.3 1,079.7 1,144.2 1,214.1 1,301.0 1,399.4 1,476.8 1,577.9 1,128.8 1,130.9 1,145.6 1,171.6 1,201.6 1,207.1 1,217.3 1,230.3 1,248.8 1,294.2 1,317.5 1,343.3 1,365.0 1,396.0 1,413.2 1,423.5 1,434.9 1,457.9 1,494.3 1,520.2 1,527.2 1,559.2 1,588.6 1,636.6 1,628.2 1,664.9 Motor vehicles and parts........... 427.3 373.1 346.7 360.0 370.1 396.6 415.3 439.8 471.4 486.5 507.2 391.9 391.3 394.8 408.4 417.0 417.1 413.3 413.7 421.1 439.7 445.5 452.9 461.9 476.6 475.8 471.2 470.9 477.0 493.2 504.9 494.3 498.0 508.4 528.3 510.7 521.1 Furnishings and durable household equipment......................... 264.4 248.3 224.7 237.3 246.9 253.9 268.8 289.5 311.8 334.7 360.4 254.5 252.0 252.9 256.3 262.2 265.8 272.3 274.9 277.2 289.2 293.7 298.0 302.5 308.2 315.4 321.0 326.6 332.2 338.9 341.2 348.2 355.8 363.8 373.9 375.5 381.9 Recreational goods and vehicles.... 249.1 253.5 244.3 263.4 288.0 311.8 339.5 366.3 395.6 432.4 476.2 303.7 307.7 314.4 321.4 333.8 336.0 342.2 346.1 352.2 361.2 371.2 380.6 384.8 390.6 400.0 407.0 416.4 427.6 438.2 447.3 458.5 475.5 478.4 492.2 500.6 511.1 Other durable goods................ 171.9 165.9 160.0 168.0 174.8 181.9 190.7 205.9 221.4 226.1 239.9 178.6 179.9 183.5 185.4 188.7 188.2 189.9 196.1 198.9 204.4 207.8 212.7 216.2 220.5 222.9 226.1 223.7 224.2 227.0 229.4 231.3 236.5 243.9 247.8 249.9 259.3 Nondurable goods..................... 2,503.4 2,463.9 2,423.1 2,461.3 2,482.9 2,493.5 2,538.5 2,603.7 2,691.7 2,763.9 2,822.0 2,495.0 2,492.2 2,493.4 2,493.5 2,526.6 2,524.0 2,540.5 2,562.8 2,569.4 2,592.3 2,612.6 2,640.4 2,662.3 2,679.4 2,705.5 2,719.7 2,743.4 2,770.0 2,769.2 2,773.2 2,786.3 2,813.9 2,829.9 2,857.7 2,858.6 2,888.4 Food and beverages purchased for off-premises consumption.......... 845.2 831.0 825.3 837.7 839.0 846.2 855.5 872.1 884.9 916.8 938.9 841.6 846.4 847.4 849.4 852.2 850.0 856.7 863.2 868.7 869.8 873.5 876.5 881.6 883.1 886.0 888.8 900.8 917.0 921.9 927.4 930.2 932.3 939.7 953.5 958.6 964.5 Clothing and footwear.............. 338.7 335.0 318.2 333.5 344.6 345.2 347.1 353.4 366.1 373.9 382.9 348.0 341.8 346.9 344.2 347.6 347.7 346.1 347.0 346.1 352.6 354.5 360.5 361.8 364.6 368.3 369.7 371.4 373.1 376.4 374.6 374.2 381.6 383.7 392.1 384.7 392.8 Gasoline and other energy goods.... 455.4 437.5 440.1 437.9 427.8 421.9 429.7 430.1 449.9 452.0 446.5 422.0 425.2 422.5 418.0 426.4 429.9 429.8 432.8 429.3 426.5 428.0 436.4 447.6 448.0 453.2 450.9 461.5 452.2 449.1 445.1 442.8 450.6 447.1 445.4 441.9 445.2 Other nondurable goods............. 867.1 862.5 843.4 853.9 871.6 880.2 906.1 947.6 991.7 1,018.4 1,045.1 883.4 878.9 876.5 881.9 900.4 896.5 907.9 919.7 924.9 942.9 955.9 966.7 972.9 984.6 999.3 1,010.1 1,012.2 1,024.2 1,017.4 1,019.8 1,031.1 1,042.7 1,050.5 1,056.0 1,061.4 1,073.4 Services............................... 7,003.6 7,093.0 7,070.1 7,157.4 7,282.1 7,369.1 7,415.5 7,594.0 7,840.0 8,022.5 8,184.5 7,349.4 7,366.4 7,368.5 7,392.0 7,386.8 7,392.2 7,411.0 7,471.9 7,491.2 7,546.6 7,629.0 7,709.3 7,768.1 7,821.0 7,863.6 7,907.1 7,945.5 8,000.4 8,047.0 8,096.9 8,131.9 8,165.6 8,193.7 8,246.6 8,267.9 8,331.8 Household consumption expenditures (for services)...................... 6,765.7 6,815.4 6,781.3 6,859.0 6,969.3 7,027.5 7,069.8 7,247.9 7,506.1 7,677.3 7,842.2 7,024.0 7,025.3 7,024.8 7,036.0 7,041.8 7,047.1 7,064.3 7,126.1 7,145.7 7,197.4 7,279.7 7,368.7 7,438.5 7,493.1 7,528.6 7,564.3 7,604.1 7,661.4 7,694.9 7,748.8 7,786.8 7,821.9 7,855.0 7,904.9 7,915.2 7,971.0 Housing and utilities.............. 1,900.7 1,921.2 1,943.1 1,966.8 1,993.0 1,996.3 2,006.4 2,044.4 2,089.4 2,116.6 2,129.9 1,982.2 2,000.7 2,006.2 1,996.2 2,005.6 2,001.8 1,999.6 2,018.7 2,039.1 2,037.2 2,039.2 2,062.1 2,083.3 2,083.8 2,095.8 2,094.6 2,101.7 2,116.5 2,127.5 2,120.5 2,114.8 2,130.0 2,131.6 2,143.2 2,146.0 2,158.5 Health care........................ 1,657.2 1,697.9 1,735.1 1,761.7 1,788.7 1,821.3 1,832.6 1,890.4 2,000.1 2,081.7 2,145.8 1,823.4 1,817.6 1,817.8 1,826.4 1,816.8 1,828.6 1,833.1 1,851.9 1,838.1 1,872.4 1,907.0 1,944.1 1,972.1 1,990.0 2,011.2 2,026.9 2,048.1 2,085.6 2,077.0 2,116.2 2,127.3 2,129.2 2,156.8 2,169.7 2,177.3 2,195.9 Transportation services............ 357.7 344.3 319.8 320.8 334.8 341.1 356.4 374.7 389.5 404.2 417.6 335.2 343.1 342.7 343.3 349.4 356.7 360.1 359.3 369.9 371.7 378.7 378.5 383.4 388.9 390.7 394.9 398.4 400.4 405.3 412.6 410.6 414.0 417.4 428.3 427.2 428.3 Recreation services................ 413.5 415.5 410.2 422.0 420.3 430.8 439.6 449.8 469.1 478.9 489.1 423.6 430.1 432.0 437.5 438.8 435.4 441.1 442.9 446.9 443.3 450.7 458.0 462.7 467.5 467.3 478.7 476.8 472.7 479.0 487.2 490.5 490.9 488.5 486.3 488.5 492.0 Food services and accommodations... 683.1 677.9 655.1 670.4 688.5 704.9 717.2 741.0 773.0 790.5 795.3 699.0 702.9 706.0 711.8 718.5 711.0 713.5 725.8 726.3 736.6 745.1 756.1 760.3 773.1 776.2 782.6 785.0 791.9 793.9 791.2 796.2 794.1 795.8 795.2 799.5 813.3 Financial services and insurance... 808.3 825.0 809.5 810.5 831.4 820.1 815.2 819.2 841.9 827.4 848.4 836.7 820.9 814.5 808.5 816.2 816.9 811.8 816.0 810.9 813.8 824.0 828.0 839.3 846.2 841.1 841.1 830.1 822.7 828.8 827.9 842.7 844.7 851.0 855.1 852.7 855.1 Other services..................... 948.0 935.6 908.8 906.5 912.8 913.0 902.7 929.8 946.4 986.4 1,027.0 923.9 910.2 905.7 912.3 896.5 896.7 905.6 912.0 915.2 923.5 936.5 944.2 939.6 946.2 950.0 950.0 970.5 980.1 991.1 1,004.0 1,014.7 1,029.3 1,024.9 1,039.1 1,036.4 1,040.9 Final consumption expenditures of nonprofit institutions serving households.......................... 243.4 279.2 289.5 298.8 313.0 341.5 345.7 346.2 334.3 345.5 343.1 325.4 341.1 343.6 356.1 345.0 345.1 346.8 345.8 345.5 349.1 349.3 340.8 330.1 328.4 335.5 343.2 341.7 339.6 352.3 348.5 345.6 344.3 339.7 342.7 353.3 361.1 Gross output of nonprofit institutions...................... 1,080.3 1,122.1 1,150.2 1,172.9 1,195.7 1,236.5 1,245.1 1,266.3 1,288.8 1,335.3 1,357.2 1,229.0 1,227.4 1,243.6 1,246.0 1,236.9 1,243.7 1,244.8 1,255.0 1,240.4 1,261.5 1,276.3 1,287.0 1,285.9 1,283.5 1,286.3 1,299.4 1,312.7 1,331.5 1,342.9 1,354.1 1,357.2 1,348.8 1,359.7 1,363.1 1,366.9 1,377.4 Less: Receipts from sales of goods and services by nonprofit institutions...................... 841.7 843.8 861.3 874.5 882.8 895.0 899.4 920.2 955.1 990.4 1,015.3 903.6 886.3 899.9 890.0 891.9 898.6 898.0 909.1 894.9 912.3 927.0 946.5 956.6 955.9 951.3 956.5 971.5 992.8 991.0 1,006.4 1,012.6 1,005.4 1,021.6 1,021.8 1,014.3 1,016.7 Gross private domestic investment........ 2,684.1 2,462.9 1,942.0 2,216.5 2,362.1 2,621.8 2,801.5 2,951.6 3,092.2 3,050.5 3,196.6 2,577.2 2,636.5 2,648.5 2,624.9 2,722.8 2,753.2 2,859.8 2,870.1 2,841.1 2,952.8 3,007.3 3,005.1 3,096.9 3,112.4 3,102.7 3,056.9 3,042.9 3,035.2 3,032.2 3,091.7 3,128.6 3,172.1 3,239.8 3,246.0 3,321.0 3,317.1 Fixed investment....................... 2,653.5 2,499.4 2,099.8 2,164.2 2,317.8 2,550.5 2,692.1 2,861.5 2,958.5 3,009.8 3,155.1 2,499.4 2,549.8 2,553.6 2,599.4 2,643.9 2,665.3 2,711.3 2,748.0 2,772.8 2,842.9 2,899.6 2,930.5 2,930.4 2,957.5 2,980.2 2,965.9 2,979.7 3,000.0 3,023.5 3,036.1 3,108.6 3,141.3 3,161.2 3,209.3 3,271.3 3,314.6 Nonresidential....................... 1,982.1 1,994.2 1,704.3 1,781.0 1,935.4 2,118.5 2,206.0 2,357.4 2,399.7 2,411.2 2,538.1 2,081.3 2,128.0 2,120.9 2,144.0 2,171.6 2,177.5 2,214.7 2,260.0 2,289.9 2,343.1 2,392.4 2,404.1 2,393.5 2,405.5 2,411.9 2,388.1 2,380.9 2,403.3 2,430.3 2,430.4 2,486.5 2,530.8 2,552.3 2,582.7 2,654.0 2,701.5 Structures......................... 568.6 605.4 492.2 412.8 424.1 479.4 485.5 536.9 520.9 494.7 517.5 476.0 487.4 481.8 472.5 462.1 475.8 499.8 504.2 521.0 538.4 539.8 548.6 536.3 538.6 518.8 489.7 484.8 488.8 503.5 501.9 517.3 522.2 514.5 516.2 533.3 550.1 Equipment.......................... 865.8 824.4 649.7 781.2 886.2 983.4 1,029.2 1,098.7 1,132.6 1,116.2 1,183.7 959.6 986.7 983.8 1,003.4 1,021.1 1,019.0 1,019.0 1,057.9 1,065.4 1,089.6 1,127.8 1,111.8 1,124.0 1,126.3 1,146.4 1,133.7 1,115.1 1,115.5 1,115.8 1,118.2 1,142.8 1,169.5 1,197.1 1,225.6 1,250.9 1,262.7 Information processing equipment....................... 247.2 260.6 247.5 289.1 303.2 331.2 351.8 368.6 393.5 410.9 459.8 327.3 333.5 327.3 336.8 349.9 348.6 352.1 356.5 357.9 369.4 370.9 376.3 380.1 386.7 401.1 406.0 399.6 405.9 415.1 423.0 439.7 455.2 466.8 477.5 490.5 504.9 Industrial equipment............. 217.3 208.3 162.7 162.5 194.9 211.2 208.4 216.6 217.0 214.4 228.6 210.3 215.0 207.5 212.1 210.1 207.7 209.2 206.4 211.1 217.5 222.6 215.4 216.3 218.7 215.8 217.2 211.8 213.9 214.6 217.5 220.6 227.7 231.6 234.6 238.5 235.2 Transportation equipment......... 197.7 155.0 72.5 141.5 181.8 215.3 238.5 264.4 291.4 274.3 264.2 205.6 215.6 216.1 223.9 232.2 236.6 237.2 248.2 252.1 259.9 276.3 269.4 286.7 288.9 301.0 289.0 284.0 279.8 270.5 262.9 262.0 259.0 264.7 270.9 280.3 279.3 Other equipment.................. 218.0 207.4 165.3 186.2 206.2 225.7 230.6 248.5 231.5 221.0 241.0 216.5 222.7 232.9 230.6 229.0 226.2 220.7 246.4 243.9 242.7 256.8 250.5 240.3 232.1 229.5 224.0 222.1 219.3 220.9 221.6 228.8 237.6 244.4 253.0 252.8 256.8 Intellectual property products..... 554.3 575.3 572.4 588.1 624.8 655.7 691.4 721.1 747.8 803.9 841.1 645.7 653.9 655.2 668.0 688.6 682.9 695.8 698.1 703.0 714.3 724.6 742.7 733.2 740.5 748.8 768.8 785.0 803.2 814.0 813.3 829.0 842.3 845.9 847.3 875.7 893.1 Software......................... 191.1 206.7 212.9 220.9 245.2 272.1 287.2 305.3 319.9 345.9 379.3 263.1 272.1 272.8 280.2 288.3 280.2 288.3 292.1 296.5 303.5 310.2 311.0 315.5 318.8 319.8 325.7 334.4 343.0 349.8 356.2 366.2 377.7 387.9 385.3 402.1 408.6 Research and development......... 296.1 304.8 297.4 298.5 311.0 313.4 333.8 345.3 352.8 382.0 386.8 312.3 311.5 312.4 317.6 330.1 331.9 337.1 336.1 337.0 341.2 344.1 359.1 344.4 347.3 353.1 366.5 374.6 384.8 387.7 380.7 386.7 389.5 384.0 386.8 398.8 409.2 Entertainment, literary, and artistic originals.............. 70.0 66.0 63.4 69.5 68.9 70.2 70.3 70.7 75.6 76.7 77.7 70.3 70.2 70.1 70.2 70.2 70.8 70.3 70.0 69.6 69.8 70.7 72.5 74.0 75.2 76.3 76.7 76.3 75.7 77.0 77.6 77.7 77.5 77.5 78.2 78.4 78.6 Residential.......................... 665.8 504.6 395.3 383.0 382.5 432.0 485.5 504.2 555.3 591.3 611.1 418.3 421.9 432.7 455.2 471.8 486.8 495.5 487.7 483.4 499.9 507.7 525.6 535.2 549.3 564.3 572.3 590.9 589.4 586.9 597.9 613.8 605.2 604.5 620.7 615.3 613.7 Change in private inventories.......... 40.6 -32.7 -177.3 57.3 46.7 71.2 108.7 86.6 129.0 23.4 22.5 72.8 87.1 98.0 27.0 81.2 85.8 147.6 120.0 64.8 103.8 102.8 75.1 166.4 149.8 117.6 82.3 50.7 17.8 -14.1 39.1 -2.4 11.9 64.4 16.1 30.3 -27.9 Farm................................. -1.4 -0.6 -10.0 -17.8 -2.2 -18.7 10.4 -3.2 1.4 -5.8 -5.9 -10.8 -16.4 -25.1 -22.5 0.1 12.4 15.0 14.1 -6.6 -4.0 -0.7 -1.7 4.4 1.8 0.2 -0.9 -9.9 -2.6 -2.7 -8.0 -7.1 -5.6 -4.9 -6.2 -6.9 -5.2 Nonfarm.............................. 40.6 -31.5 -165.2 70.2 48.4 89.9 98.2 90.3 127.8 28.4 27.4 83.7 103.3 122.8 49.8 80.7 73.7 132.5 105.9 71.5 108.3 104.1 77.4 162.8 148.6 117.4 82.7 59.8 20.2 -11.6 45.2 3.8 16.9 67.8 21.1 35.9 -23.2 Net exports of goods and services........ -823.6 -661.6 -484.8 -565.9 -568.1 -568.6 -532.8 -577.7 -724.9 -786.2 -858.7 -580.5 -570.4 -573.7 -549.8 -532.7 -545.8 -551.9 -500.9 -548.4 -573.2 -569.4 -619.9 -694.4 -696.7 -749.0 -759.3 -777.9 -764.1 -766.3 -836.7 -845.5 -844.1 -845.9 -899.2 -902.4 -849.9 Exports................................ 1,822.3 1,925.4 1,763.8 1,977.9 2,119.0 2,191.3 2,269.6 2,367.0 2,380.6 2,378.1 2,450.1 2,168.5 2,192.2 2,203.6 2,200.8 2,225.9 2,252.7 2,266.8 2,333.2 2,320.9 2,367.7 2,375.9 2,403.5 2,377.7 2,400.0 2,379.0 2,365.7 2,351.1 2,370.9 2,406.4 2,384.2 2,413.3 2,435.0 2,456.1 2,495.9 2,517.8 2,574.2 Goods................................ 1,276.1 1,350.4 1,190.3 1,368.7 1,465.3 1,521.6 1,570.0 1,642.4 1,637.2 1,642.7 1,697.3 1,507.0 1,525.0 1,534.6 1,519.7 1,531.3 1,555.8 1,565.7 1,627.2 1,601.8 1,640.5 1,654.3 1,673.1 1,632.2 1,658.3 1,639.1 1,619.2 1,619.9 1,634.2 1,664.9 1,651.9 1,669.0 1,686.2 1,694.8 1,739.2 1,753.0 1,808.4 Services............................. 546.0 574.7 572.9 609.2 653.8 669.7 699.5 724.7 742.2 735.3 753.4 661.6 667.2 669.0 681.0 694.4 696.7 700.8 706.2 718.8 727.1 722.0 730.9 744.0 741.5 739.1 744.2 730.4 736.0 741.7 732.9 744.5 749.3 760.8 759.0 766.9 770.5 Imports................................ 2,646.0 2,587.1 2,248.6 2,543.8 2,687.1 2,759.9 2,802.4 2,944.7 3,105.5 3,164.4 3,308.7 2,749.0 2,762.5 2,777.3 2,750.6 2,758.6 2,798.5 2,818.6 2,834.1 2,869.4 2,940.9 2,945.3 3,023.4 3,072.1 3,096.7 3,128.0 3,125.0 3,129.0 3,135.0 3,172.6 3,220.9 3,258.8 3,279.1 3,302.0 3,395.1 3,420.1 3,424.1 Goods................................ 2,236.0 2,160.8 1,830.1 2,112.7 2,242.5 2,301.4 2,341.9 2,472.7 2,615.2 2,651.4 2,773.5 2,293.6 2,303.5 2,316.4 2,292.0 2,302.2 2,338.1 2,356.6 2,370.8 2,405.9 2,469.5 2,473.1 2,542.3 2,590.3 2,612.9 2,633.0 2,624.5 2,622.0 2,629.3 2,656.4 2,697.6 2,729.9 2,745.8 2,762.6 2,855.6 2,872.7 2,879.8 Services............................. 409.2 425.2 415.9 430.8 444.6 458.5 460.6 472.7 491.8 512.5 534.9 455.3 459.1 460.9 458.5 456.4 460.4 462.1 463.4 463.8 472.0 472.8 482.1 483.7 486.0 496.4 501.1 506.5 505.6 515.3 522.5 528.3 532.4 538.1 540.8 548.1 545.5 Government consumption expenditures and gross investment........................ 3,118.6 3,195.6 3,307.3 3,307.2 3,203.3 3,137.0 3,061.0 3,032.3 3,088.5 3,132.5 3,130.4 3,159.6 3,143.0 3,138.2 3,107.2 3,079.4 3,074.0 3,057.4 3,033.4 3,022.8 3,022.5 3,043.4 3,040.4 3,057.6 3,087.6 3,101.8 3,107.1 3,133.3 3,126.7 3,134.4 3,135.6 3,129.6 3,130.0 3,121.8 3,140.2 3,152.2 3,168.9 Federal................................ 1,147.0 1,218.8 1,293.0 1,346.1 1,311.1 1,286.5 1,215.3 1,183.2 1,183.0 1,187.8 1,196.4 1,299.4 1,289.1 1,291.7 1,265.9 1,236.9 1,226.8 1,209.1 1,188.2 1,189.4 1,178.1 1,191.7 1,173.6 1,179.9 1,183.0 1,181.2 1,188.0 1,188.6 1,183.9 1,188.7 1,190.1 1,190.0 1,197.1 1,193.2 1,205.2 1,213.1 1,223.4 National defense..................... 740.3 791.5 836.7 861.3 842.9 814.2 759.6 728.0 713.5 709.2 713.8 827.1 817.0 819.1 793.5 774.1 769.2 753.4 741.6 735.0 726.2 736.0 714.9 714.9 716.3 709.0 713.6 711.7 705.8 710.7 708.5 707.9 717.6 712.3 717.5 722.8 732.6 Consumption expenditures........... 578.7 616.7 655.8 679.3 669.3 650.3 607.3 585.2 573.0 570.7 566.9 661.1 651.0 655.3 633.9 619.4 617.4 600.7 591.6 594.5 581.8 592.7 572.0 576.6 574.3 569.2 571.7 571.3 568.0 573.1 570.2 565.5 568.6 564.7 568.9 574.4 583.2 Gross investment................... 161.6 174.6 180.8 182.0 173.5 163.8 152.3 142.8 140.5 138.5 147.0 166.0 166.0 163.7 159.6 154.8 151.8 152.7 150.0 140.5 144.4 143.2 142.9 138.3 142.0 139.7 141.9 140.4 137.8 137.6 138.3 142.5 149.1 147.8 148.7 148.6 149.5 Nondefense........................... 406.7 427.3 456.3 484.8 468.3 472.4 455.6 455.0 469.1 478.0 481.9 472.3 472.1 472.7 472.4 462.7 457.6 455.6 446.6 454.2 451.7 455.7 458.4 464.7 466.3 471.6 473.9 476.3 477.4 477.3 480.9 481.4 478.9 480.3 487.0 489.5 490.2 Consumption expenditures........... 301.2 318.1 342.1 360.6 343.6 348.9 340.0 338.6 349.7 356.6 358.6 348.4 348.1 349.7 349.4 345.1 342.0 340.3 332.4 339.2 335.9 339.1 340.2 346.2 346.9 351.6 354.1 355.8 356.0 355.9 358.8 358.9 355.6 357.5 362.6 366.3 367.0 Gross investment................... 105.5 109.2 114.3 124.2 124.7 123.5 115.7 116.4 119.4 121.3 123.3 123.9 124.0 122.9 123.0 117.7 115.6 115.2 114.2 115.0 115.8 116.5 118.3 118.4 119.4 120.0 119.8 120.5 121.4 121.4 122.0 122.5 123.4 122.8 124.4 123.2 123.2 State and local........................ 1,974.7 1,978.7 2,015.6 1,961.3 1,892.2 1,850.5 1,845.3 1,848.1 1,903.9 1,942.8 1,932.3 1,860.1 1,854.0 1,846.5 1,841.4 1,842.3 1,846.8 1,847.8 1,844.4 1,832.7 1,843.4 1,850.8 1,865.5 1,876.3 1,903.0 1,918.8 1,917.5 1,942.9 1,940.9 1,943.8 1,943.6 1,937.7 1,931.3 1,926.9 1,933.5 1,937.7 1,944.3 Consumption expenditures............. 1,589.1 1,591.8 1,632.8 1,592.9 1,540.3 1,516.7 1,520.6 1,523.2 1,564.6 1,596.2 1,595.4 1,519.4 1,516.6 1,515.8 1,515.1 1,519.3 1,521.6 1,521.1 1,520.3 1,515.7 1,519.1 1,523.5 1,534.4 1,547.2 1,560.0 1,571.5 1,579.7 1,588.8 1,594.9 1,601.1 1,600.0 1,597.1 1,595.3 1,594.9 1,594.5 1,595.3 1,597.9 Gross investment..................... 385.5 386.8 382.9 368.5 351.9 333.7 324.7 324.8 339.3 346.6 336.8 340.7 337.4 330.7 326.2 322.9 325.1 326.6 324.0 316.9 324.2 327.2 331.0 329.0 343.0 347.4 337.8 354.1 346.0 342.7 343.6 340.6 335.9 331.9 339.0 342.4 346.4 Residual................................. -9.8 -20.7 -24.1 -8.4 -3.7 0.0 -0.9 -1.1 3.9 8.3 -1.4 4.5 -0.1 -2.5 -1.9 -2.9 1.5 -0.5 -1.8 1.0 1.7 -2.6 -4.6 0.5 4.2 4.3 6.6 5.7 7.3 9.5 10.9 16.7 -3.4 -13.6 -5.1 -10.3 -17.9 Addenda: Final sales of domestic product........ 15,588.7 15,639.7 15,373.0 15,546.6 15,796.5 16,125.8 16,386.2 16,809.9 17,253.6 17,617.5 18,008.7 16,051.7 16,112.2 16,125.8 16,213.4 16,304.1 16,315.2 16,383.6 16,541.7 16,553.2 16,720.4 16,926.2 17,039.8 17,089.1 17,242.9 17,317.0 17,365.3 17,459.7 17,586.2 17,696.3 17,728.0 17,841.9 17,963.6 18,042.6 18,186.5 18,274.4 18,503.7 Gross domestic purchases............... 16,454.6 16,270.7 15,698.9 16,164.7 16,408.8 16,765.6 17,028.6 17,475.9 18,099.6 18,428.0 18,881.0 16,710.0 16,769.1 16,794.2 16,789.0 16,916.0 16,948.9 17,083.6 17,165.7 17,169.6 17,401.8 17,602.5 17,729.6 17,939.9 18,084.6 18,173.3 18,200.4 18,284.9 18,372.8 18,457.8 18,596.4 18,681.9 18,813.5 18,941.2 19,087.4 19,190.2 19,328.0 Final sales to domestic purchasers..... 16,418.1 16,306.5 15,863.7 16,112.5 16,364.6 16,694.4 16,919.3 17,386.0 17,966.1 18,387.2 18,839.8 16,632.3 16,682.5 16,699.3 16,763.4 16,837.2 16,861.0 16,935.4 17,043.7 17,101.3 17,292.1 17,495.1 17,655.5 17,773.5 17,929.9 18,051.2 18,109.6 18,221.7 18,337.5 18,448.8 18,540.9 18,661.9 18,783.0 18,863.3 19,051.0 19,141.3 19,326.0 Final sales to private domestic purchasers............................ 13,293.8 13,108.0 12,557.6 12,805.7 13,161.2 13,557.4 13,858.9 14,355.7 14,880.2 15,257.7 15,713.5 13,472.7 13,539.4 13,561.1 13,656.2 13,758.0 13,787.4 13,878.5 14,011.5 14,079.9 14,271.5 14,453.8 14,617.7 14,718.6 14,844.9 14,952.1 15,005.3 15,091.2 15,213.8 15,317.5 15,408.6 15,535.9 15,656.9 15,745.8 15,915.4 15,993.7 16,162.0 GDP.................................... 15,626.0 15,604.7 15,208.8 15,598.8 15,840.7 16,197.0 16,495.4 16,899.8 17,386.7 17,659.2 18,050.7 16,129.4 16,198.8 16,220.7 16,239.1 16,383.0 16,403.2 16,531.7 16,663.6 16,621.7 16,830.1 17,033.6 17,113.9 17,254.7 17,397.0 17,438.8 17,456.2 17,523.4 17,622.5 17,706.7 17,784.2 17,863.0 17,995.2 18,120.8 18,223.8 18,324.0 18,507.2 Plus: Income receipts from the rest of the world............................. 940.9 896.3 685.4 746.2 803.7 799.7 811.1 828.2 813.0 823.6 900.8 814.2 789.5 799.8 795.2 801.6 812.1 814.1 816.7 821.0 824.5 842.8 824.4 812.9 828.0 825.1 785.8 800.8 826.9 817.4 849.2 851.9 873.4 920.7 957.2 989.6 --- Less: Income payments to the rest of the world............................. 817.7 729.0 535.1 541.1 562.7 567.4 584.2 592.9 591.6 615.5 667.5 564.8 560.9 571.4 572.5 589.8 586.9 576.8 583.2 581.6 593.7 590.9 605.5 584.5 613.2 611.7 557.1 601.5 620.7 626.4 613.1 627.7 665.3 677.2 699.6 731.3 --- Equals: Gross national product......... 15,748.3 15,771.6 15,359.4 15,803.9 16,081.7 16,429.3 16,722.3 17,135.1 17,608.3 17,867.8 18,284.0 16,378.9 16,427.4 16,449.1 16,461.9 16,594.8 16,628.3 16,769.0 16,897.2 16,861.0 17,060.9 17,285.4 17,333.0 17,483.3 17,612.1 17,652.5 17,685.2 17,723.3 17,829.1 17,898.4 18,020.4 18,087.6 18,203.6 18,364.1 18,480.8 18,581.5 --- Net domestic product................... 13,312.5 13,213.0 12,771.8 13,134.5 13,329.3 13,621.0 13,845.8 14,175.8 14,588.2 14,790.1 15,092.0 13,579.7 13,631.7 13,636.0 13,636.7 13,761.0 13,762.2 13,873.0 13,986.8 13,926.7 14,116.4 14,299.9 14,360.3 14,482.2 14,606.8 14,631.4 14,632.2 14,683.3 14,764.3 14,828.5 14,884.5 14,939.5 15,047.8 15,150.1 15,230.7 15,309.0 15,468.1 Gross domestic income (GDI)\1\......... 15,606.9 15,410.8 15,006.6 15,535.2 15,894.9 16,438.4 16,652.9 17,188.2 17,630.0 17,779.0 18,183.3 16,399.4 16,460.3 16,369.0 16,525.0 16,543.2 16,642.1 16,654.8 16,772.3 16,900.5 17,108.1 17,309.3 17,434.9 17,561.2 17,619.7 17,664.3 17,675.3 17,740.4 17,698.3 17,786.9 17,891.3 18,044.7 18,168.7 18,226.7 18,294.2 18,469.7 --- Average of GDP and GDI................. 15,616.5 15,507.7 15,107.7 15,567.0 15,867.8 16,317.7 16,574.1 17,044.0 17,508.3 17,719.1 18,117.0 16,264.4 16,329.5 16,294.8 16,382.0 16,463.1 16,522.7 16,593.3 16,718.0 16,761.1 16,969.1 17,171.4 17,274.4 17,408.0 17,508.4 17,551.5 17,565.8 17,631.9 17,660.4 17,746.8 17,837.8 17,953.8 18,081.9 18,173.8 18,259.0 18,396.9 --- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Gross domestic income is current-dollar gross domestic income deflated by the implicit price deflator for gross domestic product. Note. Users are cautioned that particularly for components that exhibit rapid change in prices relative to other prices in the economy, the chained-dollar estimates should not be used to measure the component's relative importance or its contribution to the growth rate of more aggregate series. For accurate estimates of the contributions to percent changes in real gross domestic product, use table 2. Source: U.S. Bureau of Economic Analysis Table 4. Price Indexes for Gross Domestic Product and Related Measures: Percent Change From Preceding Period ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 -------------------------------------------------------------------------------------Seasonally adjusted at annual rates------------------------------------------------------------------------------------- -------------2012------------- -------------2013------------- -------------2014------------- -------------2015------------- -------------2016------------- -------------2017------------- -----2018----- Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP)..... 2.7 1.9 0.8 1.2 2.1 1.9 1.8 1.9 1.0 1.1 1.9 2.5 1.6 2.5 1.7 1.6 1.2 2.2 2.2 1.5 2.5 2.0 0.4 -0.2 2.4 1.2 0.1 -0.2 2.7 1.4 2.3 2.0 1.2 2.2 2.5 2.0 3.0 Personal consumption expenditures...... 2.5 3.0 -0.1 1.7 2.5 1.9 1.3 1.5 0.3 1.1 1.8 2.8 1.0 1.2 2.3 1.4 0.3 1.6 1.6 1.9 2.0 1.2 -0.4 -1.8 2.0 1.2 -0.2 0.2 2.4 1.7 1.9 2.1 0.8 1.6 2.7 2.5 1.8 Goods................................ 1.1 3.0 -2.4 1.5 3.8 1.2 -0.6 -0.5 -3.1 -1.6 0.3 2.5 -1.3 -0.1 1.8 -0.6 -3.7 0.5 -0.7 0.5 0.6 -0.8 -4.8 -8.2 1.9 -0.8 -4.0 -4.1 1.2 -0.9 0.8 2.2 -2.8 0.7 1.5 2.2 0.4 Durable goods...................... -2.1 -1.9 -1.9 -1.8 -0.8 -1.3 -2.0 -2.5 -2.2 -2.3 -2.2 -0.5 -2.3 -2.3 -1.4 -1.5 -2.9 -2.2 -2.4 -3.2 -2.1 -1.8 -3.1 -3.0 -0.7 -2.2 -2.2 -1.9 -2.6 -3.5 -3.5 0.2 -3.1 -2.4 -2.2 -1.1 -1.4 Nondurable goods................... 2.9 5.6 -2.7 3.0 5.9 2.4 0.1 0.5 -3.5 -1.2 1.6 3.9 -0.8 1.0 3.3 -0.2 -4.1 1.8 0.1 2.3 1.9 -0.3 -5.6 -10.7 3.1 -0.1 -4.8 -5.2 3.1 0.4 3.0 3.3 -2.6 2.3 3.4 3.9 1.4 Services............................. 3.3 3.0 1.1 1.8 1.9 2.2 2.3 2.5 1.9 2.3 2.4 2.9 2.1 1.7 2.5 2.5 2.3 2.2 2.8 2.6 2.7 2.2 1.8 1.4 2.0 2.1 1.6 2.3 2.9 3.0 2.5 2.0 2.4 2.0 3.3 2.6 2.5 Gross private domestic investment...... 1.5 0.8 -1.1 -1.7 1.0 1.3 1.0 2.0 0.7 0.0 1.5 1.6 1.9 1.7 0.6 0.0 1.3 1.2 2.0 2.9 1.3 2.5 1.7 0.1 -0.3 0.3 -0.6 -1.6 1.7 0.6 2.1 1.0 2.0 1.9 1.3 2.5 3.1 Fixed investment..................... 1.5 0.8 -1.2 -1.5 1.1 1.4 1.1 2.1 0.9 0.1 1.5 2.0 1.2 1.7 0.6 0.3 1.5 1.5 2.6 3.1 1.3 2.4 1.0 1.3 0.2 0.5 -0.6 -1.3 1.5 0.7 1.9 1.1 1.9 2.0 1.2 2.5 3.2 Nonresidential..................... 1.6 1.5 -0.6 -1.8 1.2 1.5 0.3 1.3 0.5 -0.8 0.7 2.5 1.2 1.3 -0.1 -1.0 0.7 0.6 1.4 1.8 1.3 1.3 1.1 0.9 -0.3 -0.3 -1.4 -2.2 0.5 -0.7 1.0 0.6 1.0 1.3 0.7 0.7 2.0 Structures....................... 5.9 5.1 -1.8 -0.7 3.6 4.9 1.5 5.9 2.2 0.4 2.6 6.3 5.6 1.8 -0.4 -1.1 2.9 2.7 6.0 7.5 6.7 6.8 5.1 0.1 -1.1 1.8 0.1 -1.7 3.2 -0.6 2.4 2.7 3.7 3.9 2.3 3.2 4.6 Equipment........................ -0.4 -0.6 0.6 -3.6 0.0 0.6 -0.2 -0.5 -0.5 -1.0 -0.6 1.0 -0.2 1.1 1.3 -0.8 -1.0 -0.6 -1.6 -0.3 0.5 -0.4 0.0 -0.3 -0.9 -1.5 -1.4 -1.0 -0.6 -0.5 -1.2 -0.3 -0.3 -0.5 -0.5 -0.3 0.9 Intellectual property products... 1.2 1.6 -1.2 -0.3 1.2 0.5 0.1 0.7 0.8 -1.3 1.1 2.1 0.0 1.2 -1.9 -1.2 1.7 0.8 2.7 1.0 -1.3 -0.2 -0.4 3.5 1.3 0.1 -2.4 -4.1 0.2 -1.0 3.1 0.4 1.0 2.0 1.2 0.4 1.6 Residential........................ 1.3 -1.4 -3.5 -0.4 0.7 1.0 5.1 5.8 2.7 3.6 4.5 -0.6 1.6 3.5 4.1 6.3 5.4 5.4 7.8 8.8 1.0 7.3 0.7 2.5 2.0 3.5 2.5 1.9 5.4 6.0 5.1 3.0 5.1 4.5 3.1 8.8 7.5 Change in private inventories........ --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- Net exports of goods and services...... --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- Exports.............................. 3.8 4.7 -6.0 4.1 6.3 0.8 0.2 0.0 -5.0 -2.0 2.9 2.5 0.7 -0.3 1.4 1.3 -2.7 0.8 -0.3 2.8 0.1 -1.0 -7.2 -9.7 -0.8 -4.1 -6.1 -5.7 4.2 2.3 2.5 3.8 0.3 3.8 6.1 4.0 5.8 Goods.............................. 3.9 5.2 -7.1 4.6 7.3 0.2 -0.7 -1.0 -7.2 -3.8 3.0 2.1 -0.1 -0.3 0.6 0.6 -4.4 0.1 -1.6 3.0 -1.1 -2.6 -9.8 -12.7 -2.0 -6.2 -8.1 -10.5 5.6 2.3 2.0 4.7 -0.5 4.9 5.7 4.2 6.4 Services........................... 3.4 3.5 -3.5 3.1 4.0 2.0 2.1 2.2 -0.5 1.5 2.6 3.5 2.7 -0.3 3.2 2.9 1.1 2.3 2.8 2.3 2.8 2.5 -1.4 -3.3 1.5 0.2 -2.3 3.9 1.8 2.4 3.5 2.0 1.7 1.9 6.8 3.6 4.7 Imports.............................. 3.5 10.1 -11.1 5.5 7.6 0.2 -1.4 -0.9 -8.2 -3.6 2.3 3.9 -3.0 -6.3 4.2 0.5 -5.1 -2.0 -0.8 5.8 -3.4 -3.0 -8.1 -15.6 -5.1 -4.9 -8.5 -6.7 1.5 3.1 1.1 4.6 0.0 1.0 5.7 7.3 0.1 Goods.............................. 3.4 11.0 -12.7 6.3 8.5 0.1 -1.9 -1.4 -9.6 -4.2 2.4 4.2 -3.8 -7.5 4.4 0.3 -6.1 -2.6 -1.8 6.6 -4.2 -3.8 -9.3 -17.9 -6.3 -5.4 -9.8 -8.1 1.5 4.0 1.4 5.4 -0.9 0.0 6.1 7.9 -0.7 Services........................... 4.1 5.4 -3.4 2.0 3.1 0.6 1.6 1.6 -1.6 -0.6 1.9 1.8 1.2 0.1 3.3 1.7 0.3 1.1 4.3 2.1 0.9 0.8 -2.1 -4.2 0.4 -2.3 -2.3 -0.2 1.4 -0.5 -0.1 1.1 3.6 5.4 4.3 4.6 3.7 Government consumption expenditures and gross investment.................. 4.5 4.3 -0.4 2.6 3.0 1.7 2.3 2.1 0.3 0.3 2.6 3.5 0.4 1.7 3.1 2.6 1.6 2.5 3.8 1.5 1.6 2.2 0.2 -2.2 2.2 0.6 -1.1 -2.2 2.8 1.7 2.5 3.7 1.6 2.5 3.2 2.9 3.1 Federal.............................. 3.0 3.0 -0.2 2.3 2.7 0.9 0.9 1.7 0.6 0.5 1.9 1.4 0.9 0.8 0.5 0.0 0.8 1.3 6.2 -1.1 1.9 1.8 0.5 -0.5 1.1 0.8 -0.6 -1.2 2.2 1.8 2.2 2.7 1.3 1.2 1.3 1.8 2.1 National defense................... 3.1 3.3 -0.7 2.1 2.9 1.1 0.6 1.4 0.3 0.3 1.6 1.5 1.0 1.0 0.9 -0.8 0.3 1.0 4.7 -0.1 1.2 1.4 -0.1 -0.7 0.9 0.7 -0.9 -1.6 2.1 1.7 1.8 2.3 0.9 1.0 1.2 1.4 1.4 Nondefense......................... 2.8 2.5 0.8 2.7 2.4 0.7 1.5 2.1 1.0 0.9 2.4 1.1 0.7 0.3 -0.2 1.4 1.7 1.8 8.8 -2.8 2.8 2.6 1.3 -0.2 1.4 0.8 -0.2 -0.7 2.5 2.0 2.9 3.4 2.0 1.5 1.4 2.4 2.9 State and local...................... 5.4 5.0 -0.6 2.8 3.2 2.3 3.3 2.3 0.1 0.2 3.0 5.0 0.0 2.4 5.0 4.5 2.1 3.2 2.3 3.2 1.4 2.4 0.0 -3.2 2.9 0.4 -1.3 -2.9 3.1 1.7 2.7 4.3 1.7 3.4 4.4 3.6 3.7 Addenda: Final sales of domestic product...... 2.7 1.9 0.8 1.2 2.1 1.9 1.8 1.9 1.1 1.1 1.9 2.6 1.5 2.5 1.7 1.6 1.3 2.3 2.3 1.5 2.5 2.0 0.3 0.0 2.5 1.2 0.2 -0.1 2.7 1.4 2.2 2.0 1.2 2.2 2.5 2.0 3.0 Gross domestic purchases............. 2.7 2.9 -0.3 1.4 2.4 1.8 1.5 1.7 0.3 0.8 1.9 2.7 1.0 1.3 2.2 1.4 0.7 1.7 2.1 2.0 1.8 1.6 0.0 -1.5 1.6 0.9 -0.4 -0.5 2.3 1.5 2.1 2.2 1.1 1.8 2.6 2.5 2.3 Final sales to domestic purchasers... 2.7 2.9 -0.3 1.4 2.4 1.8 1.5 1.7 0.4 0.8 1.9 2.8 0.9 1.3 2.2 1.5 0.7 1.8 2.2 2.0 1.8 1.6 -0.1 -1.3 1.7 1.0 -0.4 -0.5 2.3 1.6 2.0 2.2 1.1 1.8 2.6 2.5 2.3 Final sales to private domestic purchasers.......................... 2.3 2.5 -0.3 1.1 2.3 1.8 1.3 1.6 0.4 0.9 1.7 2.6 1.0 1.2 1.9 1.2 0.5 1.6 1.8 2.1 1.8 1.4 -0.1 -1.2 1.6 1.1 -0.3 -0.1 2.2 1.5 1.9 1.9 1.0 1.7 2.4 2.5 2.1 Gross national product (GNP)......... 2.7 1.9 0.8 1.2 2.1 1.9 1.8 1.9 1.0 1.1 1.9 2.5 1.6 2.5 1.7 1.6 1.2 2.2 2.2 1.5 2.4 2.0 0.4 -0.3 2.4 1.2 0.1 -0.2 2.7 1.4 2.3 1.9 1.2 2.2 2.5 1.9 --- GDP excluding food and energy\1\..... 2.6 2.1 0.5 1.4 1.9 1.9 1.9 2.0 1.3 1.4 1.9 2.9 1.5 1.5 2.0 1.8 1.7 2.1 2.6 1.7 2.0 2.1 1.1 0.4 1.9 1.4 0.5 0.6 2.3 2.0 2.1 2.2 1.3 1.8 2.4 2.4 2.7 Gross domestic purchases excluding food and energy\1\.................. 2.5 2.2 0.5 1.2 1.8 1.8 1.6 1.8 1.0 1.1 1.8 2.7 1.4 1.3 1.9 1.6 1.3 1.6 2.4 1.7 1.8 1.9 1.0 0.1 1.5 1.1 0.4 0.4 2.1 1.7 1.8 1.9 1.5 1.7 2.1 2.4 2.4 PCE excluding food and energy\1\..... 2.2 2.0 1.2 1.4 1.6 1.9 1.5 1.6 1.3 1.7 1.6 2.7 1.7 1.1 1.8 1.6 1.2 1.6 1.9 1.4 2.0 1.6 1.1 0.7 1.8 1.5 1.0 1.7 2.1 2.0 1.5 1.6 1.3 1.4 2.1 2.2 2.0 Market-based PCE\2\.................. 2.5 3.4 0.3 1.5 2.5 1.8 1.0 1.1 -0.1 0.8 1.5 2.4 0.8 1.2 1.8 1.3 -0.5 1.5 1.0 1.6 1.6 1.0 -0.9 -2.3 1.8 1.0 -0.3 -0.3 2.0 1.4 1.7 2.1 0.0 1.4 2.5 2.3 1.9 Market-based PCE excluding food and energy\1,2\......................... 2.1 2.3 1.9 1.1 1.4 1.8 1.2 1.2 1.1 1.4 1.3 2.2 1.6 1.2 1.2 1.4 0.4 1.4 1.2 0.9 1.5 1.4 0.8 0.5 1.6 1.3 1.0 1.4 1.6 1.7 1.1 1.5 0.5 1.1 1.7 2.0 2.1 Implicit price deflators: GDP................................ 2.7 1.9 0.8 1.2 2.1 1.9 1.8 1.9 1.1 1.1 1.9 2.5 1.6 2.1 2.1 1.6 1.2 1.9 2.4 1.5 2.5 1.9 0.8 -0.3 2.3 1.5 0.1 -0.3 2.8 1.5 2.1 2.1 1.1 1.9 2.7 2.0 3.2 Gross domestic purchases........... 2.7 2.9 -0.3 1.4 2.4 1.8 1.5 1.7 0.4 0.8 1.8 2.8 0.9 1.0 2.5 1.5 0.6 1.4 2.2 2.0 1.9 1.5 0.4 -1.6 1.5 1.2 -0.4 -0.6 2.4 1.6 1.9 2.3 1.1 1.6 2.8 2.6 2.4 GNP................................ 2.7 2.0 0.8 1.2 2.1 1.9 1.8 1.9 1.0 1.1 1.9 2.5 1.6 2.1 2.1 1.6 1.2 1.9 2.4 1.5 2.5 1.9 0.8 -0.4 2.3 1.5 0.1 -0.3 2.8 1.5 2.1 2.0 1.1 1.9 2.7 1.9 --- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services. 2. This index is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most implicit prices (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. Source: U.S. Bureau of Economic Analysis Table 5. Real Gross Domestic Product: Annual Percent Change -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ----------------------Percent change from preceding year---------------------- ------Percent change from fourth quarter to fourth quarter one year ago------ 2010 2011 2012 2013 2014 2015 2016 2017 2010 2011 2012 2013 2014 2015 2016 2017 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP).......... 2.6 1.6 2.2 1.8 2.5 2.9 1.6 2.2 2.6 1.6 1.5 2.6 2.7 2.0 1.9 2.5 Personal consumption expenditures (PCE)..... 1.7 1.9 1.5 1.5 2.9 3.7 2.7 2.5 1.7 1.9 1.6 1.9 3.8 3.0 2.8 2.7 Goods..................................... 2.8 2.2 2.1 3.1 4.0 4.7 3.6 3.7 2.8 2.2 2.4 3.5 5.0 4.0 3.6 4.6 Durable goods........................... 5.6 5.1 6.0 6.1 7.2 7.6 5.5 6.8 5.6 5.1 6.3 5.0 9.2 6.0 6.8 7.7 Nondurable goods........................ 1.6 0.9 0.4 1.8 2.6 3.4 2.7 2.1 1.6 0.9 0.7 2.8 3.0 3.0 2.0 3.0 Services.................................. 1.2 1.7 1.2 0.6 2.4 3.2 2.3 2.0 1.2 1.7 1.2 1.1 3.2 2.6 2.4 1.8 Gross private domestic investment........... 14.1 6.6 11.0 6.9 5.4 4.8 -1.3 4.8 14.1 6.6 4.0 9.3 4.7 1.7 1.1 5.0 Fixed investment.......................... 3.1 7.1 10.0 5.6 6.3 3.4 1.7 4.8 3.1 7.1 7.2 5.7 6.6 1.2 2.4 5.7 Nonresidential.......................... 4.5 8.7 9.5 4.1 6.9 1.8 0.5 5.3 4.5 8.7 5.6 5.4 6.4 -0.7 1.8 6.3 Structures............................ -16.1 2.7 13.0 1.3 10.6 -3.0 -5.0 4.6 -16.1 2.7 4.0 6.7 8.8 -10.7 2.5 2.9 Equipment............................. 20.2 13.4 11.0 4.7 6.7 3.1 -1.5 6.1 20.2 13.4 7.8 5.4 5.1 2.0 -1.4 9.6 Intellectual property products........ 2.7 6.2 5.0 5.4 4.3 3.7 7.5 4.6 2.7 6.2 3.7 4.5 6.4 3.5 5.8 4.2 Residential............................. -3.1 -0.1 13.0 12.4 3.9 10.1 6.5 3.3 -3.1 -0.1 15.4 7.1 7.8 8.9 4.5 3.8 Change in private inventories............. --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- Net exports of goods and services........... --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- Exports................................... 12.1 7.1 3.4 3.6 4.3 0.6 -0.1 3.0 12.1 7.1 2.1 6.0 3.0 -1.6 0.8 4.7 Goods................................... 15.0 7.1 3.8 3.2 4.6 -0.3 0.3 3.3 15.0 7.1 1.4 7.1 2.8 -3.2 2.0 5.3 Services................................ 6.3 7.3 2.4 4.5 3.6 2.4 -0.9 2.5 6.3 7.3 3.8 3.7 3.5 1.8 -1.5 3.6 Imports................................... 13.1 5.6 2.7 1.5 5.1 5.5 1.9 4.6 13.1 5.6 0.6 3.0 6.7 3.4 3.1 5.4 Goods................................... 15.4 6.1 2.6 1.8 5.6 5.8 1.4 4.6 15.4 6.1 0.5 3.4 7.2 3.2 2.8 5.9 Services................................ 3.6 3.2 3.1 0.5 2.6 4.0 4.2 4.4 3.6 3.2 1.4 1.1 4.0 3.9 4.3 3.5 Government consumption expenditures and gross investment........................... 0.0 -3.1 -2.1 -2.4 -0.9 1.9 1.4 -0.1 0.0 -3.1 -2.1 -2.4 0.2 2.2 0.9 0.1 Federal................................... 4.1 -2.6 -1.9 -5.5 -2.6 0.0 0.4 0.7 4.1 -2.6 -2.6 -6.1 -1.2 1.2 0.2 1.3 National defense........................ 2.9 -2.1 -3.4 -6.7 -4.2 -2.0 -0.6 0.7 2.9 -2.1 -4.7 -6.5 -3.6 -0.2 -0.7 1.3 Nondefense.............................. 6.2 -3.4 0.9 -3.5 -0.1 3.1 1.9 0.8 6.2 -3.4 1.2 -5.5 2.7 3.4 1.5 1.3 State and local........................... -2.7 -3.5 -2.2 -0.3 0.1 3.0 2.0 -0.5 -2.7 -3.5 -1.7 0.2 1.1 2.8 1.4 -0.5 Addenda: Gross domestic income (GDI)\1\............ 3.5 2.3 3.4 1.3 3.2 2.6 0.8 2.3 3.5 2.3 2.9 1.5 4.0 1.4 1.2 2.3 Average of GDP and GDI.................... 3.0 1.9 2.8 1.6 2.8 2.7 1.2 2.2 3.0 1.9 2.2 2.1 3.3 1.7 1.5 2.4 Final sales of domestic product........... 1.1 1.6 2.1 1.6 2.6 2.6 2.1 2.2 1.1 1.6 1.9 2.0 3.0 1.9 2.1 2.6 Gross domestic purchases.................. 3.0 1.5 2.2 1.6 2.6 3.6 1.8 2.5 3.0 1.5 1.2 2.2 3.3 2.7 2.2 2.6 Final sales to domestic purchasers........ 1.6 1.6 2.0 1.3 2.8 3.3 2.3 2.5 1.6 1.6 1.7 1.7 3.6 2.6 2.4 2.8 Final sales to private domestic purchasers............................... 2.0 2.8 3.0 2.2 3.6 3.7 2.5 3.0 2.0 2.8 2.6 2.6 4.3 2.7 2.7 3.3 Gross national product.................... 2.9 1.8 2.2 1.8 2.5 2.8 1.5 2.3 2.9 1.8 1.2 2.6 2.6 2.0 1.9 2.6 Real disposable personal income........... 2.0 2.3 3.3 -1.3 4.0 4.1 1.7 2.6 2.0 2.3 4.9 -2.5 5.2 3.1 1.6 2.8 Price indexes: Gross domestic purchases................ 1.4 2.4 1.8 1.5 1.7 0.3 0.8 1.9 1.4 2.4 1.8 1.5 1.4 0.1 1.3 1.9 Gross domestic purchases excluding food and energy\2\.......................... 1.2 1.8 1.8 1.6 1.8 1.0 1.1 1.8 1.2 1.8 1.8 1.7 1.6 0.8 1.5 1.8 GDP..................................... 1.2 2.1 1.9 1.8 1.9 1.0 1.1 1.9 1.2 2.1 2.1 1.8 1.6 0.9 1.5 2.0 GDP excluding food and energy\2\........ 1.4 1.9 1.9 1.9 2.0 1.3 1.4 1.9 1.4 1.9 2.0 2.1 1.7 1.1 1.8 1.9 PCE..................................... 1.7 2.5 1.9 1.3 1.5 0.3 1.1 1.8 1.7 2.5 1.8 1.2 1.2 0.3 1.6 1.8 PCE excluding food and energy\2\........ 1.4 1.6 1.9 1.5 1.6 1.3 1.7 1.6 1.4 1.6 1.8 1.6 1.5 1.2 1.8 1.6 Market-based PCE\3\..................... 1.5 2.5 1.8 1.0 1.1 -0.1 0.8 1.5 1.5 2.5 1.5 0.8 0.8 0.0 1.2 1.5 Market-based PCE excluding food and energy\2,3\............................ 1.1 1.4 1.8 1.2 1.2 1.1 1.4 1.3 1.1 1.4 1.5 1.1 1.2 1.1 1.5 1.2 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Gross domestic income deflated by the implicit price deflator for gross domestic product. 2. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services. 3. This index is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most implicit prices (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. Note. Estimates under the 'Percent change from the preceding year' columns are calculated from annual data. Estimates under the 'Percent change fourth quarter to fourth quarter' columns are calculated from fourth quarter values relative to the same quarter one year prior. Source: U.S. Bureau of Economic Analysis Table 5A. Gross Domestic Product: Levels, Percent Change from Preceding Year, and Revision to Percent Change ---------------------------------------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------Billions of dollars---------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------Percent change from preceding year--------------------------------------------------------------------------------- -------------------------------------------------------------------------Revision to percent change from preceding year\2\------------------------------------------------------------------------- Gross domestic productPersonal consumption expendituresGross private domestic investment Exports of goods and services Imports of goods and services Govern- ment\1\ Gross domestic productPersonal consumption expendituresGross private domestic investment Exports of goods and services Imports of goods and services Govern- ment\1\ Gross domestic productPersonal consumption expendituresGross private domestic investment Exports of goods and services Imports of goods and services Govern- ment\1\ ---------------------------------------------------------------------------------------------------------------------------------------------------------------- 1970...... 1,073.3 646.7 170.0 59.7 55.8 252.6 5.5 7.1 -2.0 15.0 10.4 5.7 0.0 0.0 0.0 0.0 0.0 0.0 1971...... 1,164.9 699.9 196.8 63.0 62.3 267.5 8.5 8.2 15.7 5.4 11.8 5.9 0.0 0.0 0.0 0.0 0.0 -0.1 1972...... 1,279.1 768.2 228.1 70.8 74.2 286.2 9.8 9.7 15.9 12.5 19.0 7.0 0.0 -0.1 0.0 0.0 0.0 0.0 1973...... 1,425.4 849.6 266.9 95.3 91.2 304.8 11.4 10.6 17.0 34.5 22.8 6.5 0.0 0.0 0.0 0.0 0.0 0.2 1974...... 1,545.2 930.2 274.5 126.7 127.5 341.4 8.4 9.5 2.8 32.9 39.8 12.0 0.0 0.0 0.0 0.0 0.0 0.0 1975...... 1,684.9 1,030.5 257.3 138.7 122.7 381.1 9.0 10.8 -6.3 9.5 -3.7 11.6 0.0 0.0 0.0 0.0 0.0 0.0 1976...... 1,873.4 1,147.7 323.2 149.5 151.1 404.2 11.2 11.4 25.6 7.8 23.2 6.0 0.0 0.0 0.0 0.0 0.0 0.0 1977...... 2,081.8 1,274.0 396.6 159.3 182.4 434.3 11.1 11.0 22.7 6.6 20.7 7.5 0.0 0.0 0.0 0.0 0.0 0.1 1978...... 2,351.6 1,422.3 478.4 186.9 212.3 476.3 13.0 11.6 20.6 17.3 16.3 9.7 0.0 -0.1 0.0 0.0 0.0 0.1 1979...... 2,627.3 1,585.4 539.7 230.1 252.7 524.8 11.7 11.5 12.8 23.1 19.0 10.2 0.0 0.0 0.0 0.0 0.0 0.1 1980...... 2,857.3 1,750.7 530.1 280.8 293.8 589.6 8.8 10.4 -1.8 22.0 16.3 12.3 0.0 0.0 0.0 0.0 0.0 -0.1 1981...... 3,207.0 1,934.0 631.2 305.2 317.8 654.4 12.2 10.5 19.1 8.7 8.1 11.0 0.0 0.1 0.0 0.0 0.0 0.2 1982...... 3,343.8 2,071.3 581.0 283.2 303.2 711.5 4.3 7.1 -8.0 -7.2 -4.6 8.7 0.1 0.1 0.0 0.0 0.0 0.3 1983...... 3,634.0 2,281.6 637.5 277.0 328.6 766.6 8.7 10.2 9.7 -2.2 8.4 7.7 -0.1 -0.1 0.0 0.0 0.0 -0.1 1984...... 4,037.6 2,492.3 820.1 302.4 405.1 827.9 11.1 9.2 28.6 9.2 23.3 8.0 0.0 -0.1 0.0 0.0 0.0 0.2 1985...... 4,339.0 2,712.8 829.7 303.2 417.2 910.5 7.5 8.8 1.2 0.3 3.0 10.0 -0.1 -0.2 0.0 0.0 0.0 -0.1 1986...... 4,579.6 2,886.3 849.1 321.0 452.9 976.1 5.5 6.4 2.3 5.9 8.5 7.2 -0.1 -0.1 0.0 0.0 0.0 -0.1 1987...... 4,855.2 3,076.3 892.2 363.9 508.7 1,031.5 6.0 6.6 5.1 13.4 12.3 5.7 -0.1 -0.1 0.0 0.0 0.0 -0.1 1988...... 5,236.4 3,330.0 937.0 444.6 554.0 1,078.9 7.9 8.2 5.0 22.2 8.9 4.6 0.0 0.0 0.0 0.0 0.0 0.0 1989...... 5,641.6 3,576.8 999.7 504.3 591.0 1,151.9 7.7 7.4 6.7 13.4 6.7 6.8 0.0 0.1 0.0 0.0 0.0 0.0 1990...... 5,963.1 3,809.0 993.4 551.9 629.7 1,238.6 5.7 6.5 -0.6 9.4 6.5 7.5 0.0 0.0 0.0 0.0 0.0 0.0 1991...... 6,158.1 3,943.4 944.3 594.9 623.5 1,299.0 3.3 3.5 -4.9 7.8 -1.0 4.9 0.0 0.0 0.0 0.0 0.0 0.1 1992...... 6,520.3 4,197.6 1,013.0 633.1 667.8 1,344.5 5.9 6.4 7.3 6.4 7.1 3.5 0.0 -0.1 0.0 0.0 0.0 -0.1 1993...... 6,858.6 4,452.0 1,106.8 654.8 720.0 1,364.9 5.2 6.1 9.3 3.4 7.8 1.5 0.0 0.0 0.0 0.0 0.0 0.0 1994...... 7,287.2 4,721.0 1,256.5 720.9 813.4 1,402.3 6.3 6.0 13.5 10.1 13.0 2.7 0.0 0.0 0.0 0.0 0.0 -0.1 1995...... 7,639.7 4,962.6 1,317.5 812.8 902.6 1,449.4 4.8 5.1 4.9 12.7 11.0 3.4 -0.1 0.0 0.0 0.0 0.0 0.0 1996...... 8,073.1 5,244.6 1,432.1 867.6 964.0 1,492.8 5.7 5.7 8.7 6.7 6.8 3.0 0.0 0.0 0.0 0.0 0.0 0.0 1997...... 8,577.6 5,536.8 1,595.6 953.8 1,055.8 1,547.1 6.2 5.6 11.4 9.9 9.5 3.6 -0.1 0.0 0.0 0.0 0.0 -0.3 1998...... 9,062.8 5,877.2 1,736.7 953.0 1,115.7 1,611.6 5.7 6.1 8.8 -0.1 5.7 4.2 0.1 -0.1 0.0 0.0 0.0 0.4 1999...... 9,630.7 6,279.1 1,887.1 992.8 1,248.6 1,720.4 6.3 6.8 8.7 4.2 11.9 6.7 0.0 0.0 0.1 0.1 0.0 -0.3 2000...... 10,252.3 6,762.1 2,038.4 1,096.3 1,471.3 1,826.8 6.5 7.7 8.0 10.4 17.8 6.2 0.0 0.0 0.1 -0.2 -0.1 -0.1 2001...... 10,581.8 7,065.6 1,934.8 1,024.6 1,392.6 1,949.3 3.2 4.5 -5.1 -6.5 -5.4 6.7 -0.1 -0.1 0.1 -0.1 -0.2 -0.1 2002...... 10,936.4 7,342.7 1,930.4 998.7 1,424.1 2,088.7 3.4 3.9 -0.2 -2.5 2.3 7.2 0.1 -0.1 0.0 -0.1 -0.1 0.2 2003...... 11,458.2 7,723.1 2,027.1 1,036.2 1,539.3 2,211.2 4.8 5.2 5.0 3.7 8.1 5.9 -0.1 0.0 -0.3 -0.1 0.1 -0.1 2004...... 12,213.7 8,212.7 2,281.3 1,177.6 1,796.7 2,338.9 6.6 6.3 12.5 13.7 16.7 5.8 0.0 -0.1 0.2 0.1 0.1 -0.3 2005...... 13,036.6 8,747.1 2,534.7 1,305.2 2,026.4 2,476.0 6.7 6.5 11.1 10.8 12.8 5.9 0.0 0.0 0.1 0.0 0.1 0.1 2006...... 13,814.6 9,260.3 2,701.0 1,472.6 2,243.5 2,624.2 6.0 5.9 6.6 12.8 10.7 6.0 0.2 0.1 0.5 0.0 0.0 0.0 2007...... 14,451.9 9,706.4 2,673.0 1,660.9 2,379.3 2,790.8 4.6 4.8 -1.0 12.8 6.1 6.3 0.1 0.0 0.4 0.0 0.1 0.3 2008...... 14,712.8 9,976.3 2,477.6 1,837.1 2,560.1 2,982.0 1.8 2.8 -7.3 10.6 7.6 6.8 0.1 0.1 1.0 -0.1 0.0 -0.4 2009...... 14,448.9 9,842.2 1,929.7 1,582.0 1,978.4 3,073.5 -1.8 -1.3 -22.1 -13.9 -22.7 3.1 0.2 0.4 0.4 -0.1 0.0 0.2 2010...... 14,992.1 10,185.8 2,165.5 1,846.3 2,360.2 3,154.6 3.8 3.5 12.2 16.7 19.3 2.6 0.0 -0.1 0.3 0.0 0.0 -0.1 2011...... 15,542.6 10,641.1 2,332.6 2,103.0 2,682.5 3,148.4 3.7 4.5 7.7 13.9 13.7 -0.2 0.0 -0.3 1.1 0.2 0.1 0.0 2012...... 16,197.0 11,006.8 2,621.8 2,191.3 2,759.9 3,137.0 4.2 3.4 12.4 4.2 2.9 -0.4 0.1 0.0 0.3 -0.2 0.0 -0.1 2013...... 16,784.9 11,317.2 2,826.0 2,273.4 2,764.2 3,132.4 3.6 2.8 7.8 3.7 0.2 -0.1 0.3 0.0 0.1 0.1 0.0 1.2 2014...... 17,521.7 11,824.0 3,038.9 2,371.0 2,879.3 3,167.0 4.4 4.5 7.5 4.3 4.2 1.1 0.0 0.1 -0.3 0.0 0.1 -0.2 2015...... 18,219.3 12,294.5 3,212.0 2,265.0 2,786.5 3,234.2 4.0 4.0 5.7 -4.5 -3.2 2.1 0.0 0.1 -0.4 0.1 0.1 0.1 2016...... 18,707.2 12,766.9 3,169.9 2,217.6 2,738.1 3,291.0 2.7 3.8 -1.3 -2.1 -1.7 1.8 -0.1 -0.2 -0.1 0.1 0.2 0.3 2017...... 19,485.4 13,321.4 3,368.0 2,350.2 2,928.6 3,374.4 4.2 4.3 6.2 6.0 7.0 2.5 0.1 -0.2 1.1 0.2 0.4 -0.1 ---------------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Government consumption expenditures and gross investment 2. Revised percent change less the previously published percent change Source: U.S. Bureau of Economic Analysis Table 5B. Real Gross Domestic Product: Levels, Percent Change from Preceding Year, and Revision to Percent Change ---------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------Billions of chained (2012) dollars--------------------------------------------------------------------------------- ---------------------------------------------------------------------------------Percent change from preceding year--------------------------------------------------------------------------------- -------------------------------------------------------------------------Revision to percent change from preceding year\2\------------------------------------------------------------------------- Gross domestic productPersonal consumption expendituresGross private domestic investment Exports of goods and services Imports of goods and services Govern- ment\1\ Gross domestic productPersonal consumption expendituresGross private domestic investment Exports of goods and services Imports of goods and services Govern- ment\1\ Gross domestic productPersonal consumption expendituresGross private domestic investment Exports of goods and services Imports of goods and services Govern- ment\1\ ---------------------------------------------------------------------------------------------------------------------------------------------------------------- 1970...... 4,951.3 3,086.9 573.8 201.0 279.4 1,571.0 0.2 2.4 -6.1 10.7 4.3 -2.1 0.0 0.0 0.0 0.0 0.0 -0.1 1971...... 5,114.3 3,204.8 632.9 204.5 294.4 1,541.5 3.3 3.8 10.3 1.7 5.3 -1.9 0.0 0.0 0.0 0.0 0.0 -0.1 1972...... 5,383.3 3,401.0 704.2 220.4 327.5 1,533.6 5.3 6.1 11.3 7.8 11.3 -0.5 0.1 0.0 0.0 0.0 0.0 0.0 1973...... 5,687.2 3,569.4 781.3 261.9 342.7 1,528.7 5.6 5.0 10.9 18.8 4.6 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 1974...... 5,656.5 3,539.5 729.5 282.7 334.9 1,562.3 -0.5 -0.8 -6.6 7.9 -2.3 2.2 0.0 0.0 0.0 0.0 0.0 -0.1 1975...... 5,644.8 3,619.7 611.4 280.8 297.7 1,596.7 -0.2 2.3 -16.2 -0.6 -11.1 2.2 0.0 0.0 0.0 0.0 0.0 0.0 1976...... 5,949.0 3,821.5 728.0 293.1 355.9 1,605.0 5.4 5.6 19.1 4.4 19.6 0.5 0.0 0.0 0.0 0.0 0.1 0.0 1977...... 6,224.1 3,983.0 831.9 300.2 394.8 1,624.3 4.6 4.2 14.3 2.4 10.9 1.2 0.0 0.0 0.0 0.0 0.0 0.0 1978...... 6,568.6 4,157.3 928.1 331.8 429.0 1,670.9 5.5 4.4 11.6 10.6 8.7 2.9 -0.1 0.0 0.0 0.1 0.0 0.0 1979...... 6,776.6 4,256.1 960.7 364.7 436.2 1,701.0 3.2 2.4 3.5 9.9 1.7 1.8 0.0 0.0 0.0 0.0 0.0 -0.1 1980...... 6,759.2 4,242.8 864.0 404.0 407.1 1,731.8 -0.3 -0.3 -10.1 10.8 -6.7 1.8 -0.1 0.0 0.0 0.0 -0.1 -0.1 1981...... 6,930.7 4,301.6 940.1 408.9 417.8 1,748.5 2.5 1.4 8.8 1.2 2.6 1.0 -0.1 -0.1 0.0 0.0 0.0 0.0 1982...... 6,805.8 4,364.6 822.0 377.6 412.5 1,780.0 -1.8 1.5 -12.6 -7.7 -1.3 1.8 0.1 0.1 0.4 -0.1 0.0 0.0 1983...... 7,117.7 4,611.7 898.7 367.8 464.5 1,846.4 4.6 5.7 9.3 -2.6 12.6 3.7 0.0 0.0 0.0 0.0 0.0 -0.1 1984...... 7,632.8 4,854.3 1,144.0 397.8 577.6 1,911.3 7.2 5.3 27.3 8.2 24.3 3.5 -0.1 0.0 0.0 0.0 0.0 -0.1 1985...... 7,951.1 5,105.6 1,143.2 411.1 615.1 2,038.8 4.2 5.2 -0.1 3.3 6.5 6.7 0.0 -0.1 0.0 0.0 0.0 -0.1 1986...... 8,226.4 5,316.4 1,145.0 442.6 667.5 2,149.5 3.5 4.1 0.2 7.7 8.5 5.4 0.0 -0.1 0.0 0.0 0.0 0.0 1987...... 8,511.0 5,496.9 1,177.6 491.0 707.2 2,211.9 3.5 3.4 2.8 10.9 5.9 2.9 0.0 0.0 0.0 0.0 0.0 -0.1 1988...... 8,866.5 5,726.5 1,206.6 570.6 735.0 2,239.4 4.2 4.2 2.5 16.2 3.9 1.2 0.0 0.0 0.0 0.0 0.0 -0.1 1989...... 9,192.1 5,893.5 1,255.4 636.6 767.3 2,303.0 3.7 2.9 4.0 11.6 4.4 2.8 0.0 0.0 0.0 0.0 0.0 -0.1 1990...... 9,365.5 6,012.2 1,223.0 692.8 794.8 2,376.7 1.9 2.0 -2.6 8.8 3.6 3.2 0.0 -0.1 0.0 0.0 0.0 0.0 1991...... 9,355.4 6,023.0 1,142.1 738.6 793.6 2,405.2 -0.1 0.2 -6.6 6.6 -0.1 1.2 0.0 0.0 0.0 0.0 0.0 0.0 1992...... 9,684.9 6,244.7 1,225.3 789.8 849.2 2,416.4 3.5 3.7 7.3 6.9 7.0 0.5 -0.1 0.0 0.0 0.0 0.0 0.0 1993...... 9,951.5 6,462.2 1,323.3 815.7 922.6 2,396.6 2.8 3.5 8.0 3.3 8.6 -0.8 0.1 0.0 0.0 0.0 0.0 0.0 1994...... 10,352.4 6,712.6 1,479.8 887.7 1,032.7 2,398.6 4.0 3.9 11.8 8.8 11.9 0.1 0.0 0.0 -0.1 0.0 0.0 0.0 1995...... 10,630.3 6,910.7 1,527.3 979.0 1,115.3 2,410.8 2.7 2.9 3.2 10.3 8.0 0.5 0.0 -0.1 0.0 0.0 0.0 0.0 1996...... 11,031.4 7,150.5 1,660.8 1,059.0 1,212.3 2,433.1 3.8 3.5 8.7 8.2 8.7 0.9 0.0 0.0 -0.1 0.0 0.0 -0.1 1997...... 11,521.9 7,419.7 1,850.2 1,185.2 1,375.6 2,473.0 4.4 3.8 11.4 11.9 13.5 1.6 -0.1 0.0 0.0 0.0 0.0 -0.3 1998...... 12,038.3 7,813.8 2,026.3 1,212.8 1,536.4 2,533.0 4.5 5.3 9.5 2.3 11.7 2.4 0.0 0.0 0.0 0.0 0.0 0.3 1999...... 12,610.5 8,225.4 2,198.7 1,273.3 1,710.0 2,615.4 4.8 5.3 8.5 5.0 11.3 3.3 0.1 0.0 0.1 2.4 1.2 -0.1 2000...... 13,131.0 8,643.4 2,346.7 1,379.5 1,930.3 2,663.0 4.1 5.1 6.7 8.3 12.9 1.8 0.0 0.0 0.2 -0.3 -0.1 -0.1 2001...... 13,262.1 8,861.1 2,214.6 1,299.7 1,876.2 2,762.3 1.0 2.5 -5.6 -5.8 -2.8 3.7 0.0 -0.1 0.5 0.0 0.0 -0.1 2002...... 13,493.1 9,088.7 2,195.5 1,277.1 1,944.4 2,885.2 1.7 2.6 -0.9 -1.7 3.6 4.5 -0.1 0.0 -0.3 0.0 -0.1 0.1 2003...... 13,879.1 9,377.5 2,290.4 1,305.0 2,040.1 2,947.2 2.9 3.2 4.3 2.2 4.9 2.1 0.1 0.1 0.2 0.4 0.4 -0.1 2004...... 14,406.4 9,729.3 2,502.6 1,431.2 2,272.6 2,992.7 3.8 3.8 9.3 9.7 11.4 1.5 0.0 0.0 0.5 -0.1 0.0 -0.1 2005...... 14,912.5 10,075.9 2,670.6 1,533.2 2,421.0 3,015.5 3.5 3.6 6.7 7.1 6.5 0.8 0.2 0.1 0.3 0.8 0.2 0.2 2006...... 15,338.3 10,384.5 2,752.4 1,676.4 2,581.5 3,063.5 2.9 3.1 3.1 9.3 6.6 1.6 0.2 0.1 1.0 0.3 0.3 0.1 2007...... 15,626.0 10,615.3 2,684.1 1,822.3 2,646.0 3,118.6 1.9 2.2 -2.5 8.7 2.5 1.8 0.1 0.0 0.6 -0.6 0.0 0.2 2008...... 15,604.7 10,592.8 2,462.9 1,925.4 2,587.1 3,195.6 -0.1 -0.2 -8.2 5.7 -2.2 2.5 0.2 0.1 1.2 0.0 0.4 -0.3 2009...... 15,208.8 10,460.0 1,942.0 1,763.8 2,248.6 3,307.3 -2.5 -1.3 -21.2 -8.4 -13.1 3.5 0.3 0.3 0.4 0.4 0.6 0.3 2010...... 15,598.8 10,643.0 2,216.5 1,977.9 2,543.8 3,307.2 2.6 1.7 14.1 12.1 13.1 0.0 0.1 -0.2 1.2 0.2 0.4 -0.1 2011...... 15,840.7 10,843.8 2,362.1 2,119.0 2,687.1 3,203.3 1.6 1.9 6.6 7.1 5.6 -3.1 0.0 -0.4 1.4 0.2 0.1 -0.1 2012...... 16,197.0 11,006.8 2,621.8 2,191.3 2,759.9 3,137.0 2.2 1.5 11.0 3.4 2.7 -2.1 0.0 0.0 0.4 0.0 0.5 -0.2 2013...... 16,495.4 11,166.9 2,801.5 2,269.6 2,802.4 3,061.0 1.8 1.5 6.9 3.6 1.5 -2.4 0.1 0.0 0.8 0.1 0.4 0.5 2014...... 16,899.8 11,494.3 2,951.6 2,367.0 2,944.7 3,032.3 2.5 2.9 5.4 4.3 5.1 -0.9 -0.1 0.0 -0.1 0.0 0.6 -0.3 2015...... 17,386.7 11,921.9 3,092.2 2,380.6 3,105.5 3,088.5 2.9 3.7 4.8 0.6 5.5 1.9 0.0 0.1 -0.4 0.2 0.5 0.5 2016...... 17,659.2 12,248.2 3,050.5 2,378.1 3,164.4 3,132.5 1.6 2.7 -1.3 -0.1 1.9 1.4 0.1 0.0 0.3 0.2 0.6 0.6 2017...... 18,050.7 12,558.7 3,196.6 2,450.1 3,308.7 3,130.4 2.2 2.5 4.8 3.0 4.6 -0.1 -0.1 -0.3 1.5 -0.4 0.6 -0.2 ---------------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Government consumption expenditures and gross investment 2. Revised percent change less the previously published percent change Source: U.S. Bureau of Economic Analysis Table 5C. Chain-Type Price Indexes for Gross Domestic Product, Percent Change from Preceding Year, and Revision to Percent Change ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------Chain-type price indexes, 2012=100------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------Percent change from preceding year------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------Revision to percent change from preceding year\2\------------------------------------------------------------------------------------------ Gross domestic productPersonal consumption expendituresGross private domestic investment Exports of goods and services Imports of goods and services Govern- ment\1\ Gross domestic purchases Gross domestic productPersonal consumption expendituresGross private domestic investment Exports of goods and services Imports of goods and services Govern- ment\1\ Gross domestic purchases Gross domestic productPersonal consumption expendituresGross private domestic investment Exports of goods and services Imports of goods and services Govern- ment\1\ Gross domestic purchases ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1970...... 21.676 20.951 29.624 29.711 19.954 16.078 21.087 5.3 4.7 4.3 3.9 5.9 8.0 5.4 0.0 0.0 0.0 0.0 0.0 0.1 0.0 1971...... 22.776 21.841 31.092 30.796 21.179 17.352 22.185 5.1 4.2 5.0 3.7 6.1 7.9 5.2 0.0 -0.1 0.0 0.1 0.0 0.0 0.0 1972...... 23.760 22.586 32.388 32.145 22.662 18.662 23.175 4.3 3.4 4.2 4.4 7.0 7.5 4.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1973...... 25.061 23.802 34.153 36.382 26.601 19.936 24.499 5.5 5.4 5.4 13.2 17.4 6.8 5.7 0.1 0.0 0.0 0.1 0.0 0.2 0.0 1974...... 27.309 26.280 37.559 44.807 38.058 21.852 26.986 9.0 10.4 10.0 23.2 43.1 9.6 10.2 0.0 0.0 0.0 0.0 0.0 0.1 0.1 1975...... 29.846 28.470 42.059 49.388 41.226 23.870 29.452 9.3 8.3 12.0 10.2 8.3 9.2 9.1 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 1976...... 31.490 30.032 44.384 51.009 42.467 25.181 31.071 5.5 5.5 5.5 3.3 3.0 5.5 5.5 0.0 0.0 0.0 0.0 0.0 0.1 0.0 1977...... 33.445 31.986 47.655 53.088 46.209 26.739 33.119 6.2 6.5 7.4 4.1 8.8 6.2 6.6 0.0 0.0 0.0 0.0 0.0 0.1 0.0 1978...... 35.798 34.211 51.517 56.317 49.466 28.507 35.474 7.0 7.0 8.1 6.1 7.0 6.6 7.1 0.0 0.0 0.0 0.0 -0.1 0.2 0.0 1979...... 38.766 37.251 56.141 63.101 57.930 30.853 38.585 8.3 8.9 9.0 12.0 17.1 8.2 8.8 0.0 0.0 0.0 0.0 0.0 0.1 0.1 1980...... 42.278 41.262 61.395 69.503 72.166 34.045 42.602 9.1 10.8 9.4 10.1 24.6 10.3 10.4 0.1 0.1 0.0 0.0 0.0 0.0 0.0 1981...... 46.269 44.958 67.123 74.650 76.066 37.424 46.532 9.4 9.0 9.3 7.4 5.4 9.9 9.2 0.0 0.1 0.0 0.0 0.0 0.1 0.0 1982...... 49.130 47.456 70.679 75.006 73.506 39.969 49.214 6.2 5.6 5.3 0.5 -3.4 6.8 5.8 0.1 0.1 0.0 0.0 0.0 0.3 0.1 1983...... 51.051 49.474 70.896 75.311 70.751 41.516 50.926 3.9 4.3 0.3 0.4 -3.7 3.9 3.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1984...... 52.894 51.343 71.661 76.016 70.139 43.317 52.649 3.6 3.8 1.1 0.9 -0.9 4.3 3.4 0.0 0.0 0.0 0.0 0.0 0.3 0.1 1985...... 54.568 53.134 72.548 73.753 67.836 44.659 54.214 3.2 3.5 1.2 -3.0 -3.3 3.1 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1986...... 55.673 54.290 74.178 72.523 67.834 45.409 55.345 2.0 2.2 2.2 -1.7 0.0 1.7 2.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1987...... 57.041 55.964 75.723 74.124 71.935 46.635 56.908 2.5 3.1 2.1 2.2 6.0 2.7 2.8 0.1 0.1 0.0 0.0 -0.1 0.0 0.0 1988...... 59.055 58.151 77.627 77.920 75.377 48.177 58.921 3.5 3.9 2.5 5.1 4.8 3.3 3.5 0.0 0.0 0.0 0.0 0.0 0.1 0.0 1989...... 61.370 60.690 79.606 79.210 77.024 50.016 61.240 3.9 4.4 2.5 1.7 2.2 3.8 3.9 0.0 0.1 0.0 0.0 0.0 -0.1 0.0 1990...... 63.676 63.355 81.270 79.657 79.233 52.113 63.663 3.8 4.4 2.1 0.6 2.9 4.2 4.0 0.1 0.1 0.0 0.0 0.0 0.0 0.1 1991...... 65.819 65.473 82.648 80.545 78.573 54.005 65.662 3.4 3.3 1.7 1.1 -0.8 3.6 3.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 1992...... 67.321 67.218 82.647 80.153 78.636 55.642 67.190 2.3 2.7 0.0 -0.5 0.1 3.0 2.3 0.0 0.1 0.0 0.0 0.0 -0.1 0.0 1993...... 68.917 68.892 83.627 80.277 78.033 56.953 68.706 2.4 2.5 1.2 0.2 -0.8 2.4 2.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1994...... 70.386 70.330 84.875 81.210 78.766 58.463 70.147 2.1 2.1 1.5 1.2 0.9 2.7 2.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1995...... 71.864 71.811 86.240 83.025 80.924 60.123 71.661 2.1 2.1 1.6 2.2 2.7 2.8 2.2 0.0 0.0 0.0 0.0 0.0 -0.1 0.1 1996...... 73.178 73.346 86.191 81.923 79.514 61.355 72.908 1.8 2.1 -0.1 -1.3 -1.7 2.0 1.7 0.0 0.0 0.0 0.0 0.0 -0.1 0.0 1997...... 74.446 74.623 86.241 80.479 76.750 62.560 73.983 1.7 1.7 0.1 -1.8 -3.5 2.0 1.5 0.0 0.0 0.0 0.0 0.0 0.1 0.0 1998...... 75.267 75.216 85.608 78.574 72.618 63.624 74.476 1.1 0.8 -0.7 -2.4 -5.4 1.7 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1999...... 76.346 76.338 85.690 77.971 73.019 65.778 75.632 1.4 1.5 0.1 -0.8 0.6 3.4 1.6 0.0 0.0 -0.1 0.0 0.0 0.0 0.0 2000...... 78.069 78.235 86.815 79.467 76.221 68.601 77.575 2.3 2.5 1.3 1.9 4.4 4.3 2.6 0.0 0.0 -0.1 0.1 0.0 0.0 0.0 2001...... 79.822 79.738 87.555 78.836 74.223 70.567 79.039 2.2 1.9 0.9 -0.8 -2.6 2.9 1.9 -0.1 0.0 0.0 -0.2 -0.1 0.0 0.0 2002...... 81.039 80.789 87.841 78.201 73.242 72.393 80.125 1.5 1.3 0.3 -0.8 -1.3 2.6 1.4 0.0 0.0 -0.1 -0.2 -0.1 0.1 0.0 2003...... 82.567 82.358 88.561 79.400 75.454 75.028 81.776 1.9 1.9 0.8 1.5 3.0 3.6 2.1 -0.1 -0.1 -0.4 -0.5 -0.4 -0.2 -0.1 2004...... 84.778 84.411 91.148 82.284 79.060 78.153 84.126 2.7 2.5 2.9 3.6 4.8 4.2 2.9 0.0 0.1 -0.3 0.1 0.1 -0.3 0.0 2005...... 87.407 86.812 94.839 85.131 83.703 82.110 87.037 3.1 2.8 4.0 3.5 5.9 5.1 3.5 -0.1 -0.1 -0.3 -0.8 -0.1 0.0 0.0 2006...... 90.074 89.174 98.176 87.842 86.909 85.661 89.783 3.1 2.7 3.5 3.2 3.8 4.3 3.2 0.0 0.0 -0.3 -0.2 -0.3 -0.1 0.0 2007...... 92.498 91.438 99.656 91.139 89.921 89.491 92.206 2.7 2.5 1.5 3.8 3.5 4.5 2.7 0.0 0.0 -0.4 0.6 0.1 0.1 0.0 2008...... 94.264 94.180 100.474 95.410 98.960 93.308 94.849 1.9 3.0 0.8 4.7 10.1 4.3 2.9 0.0 -0.1 -0.2 0.0 -0.4 0.0 0.0 2009...... 94.999 94.094 99.331 89.694 87.987 92.931 94.559 0.8 -0.1 -1.1 -6.0 -11.1 -0.4 -0.3 0.0 0.0 -0.1 -0.5 -0.7 -0.1 -0.1 2010...... 96.109 95.705 97.687 93.348 92.783 95.386 95.923 1.2 1.7 -1.7 4.1 5.5 2.6 1.4 0.0 0.0 -0.8 -0.2 -0.3 -0.1 -0.1 2011...... 98.112 98.131 98.704 99.242 99.826 98.285 98.246 2.1 2.5 1.0 6.3 7.6 3.0 2.4 0.0 0.0 -0.4 -0.1 -0.1 0.0 0.0 2012...... 100.000 100.000 100.000 100.000 100.000 100.000 100.000 1.9 1.9 1.3 0.8 0.2 1.7 1.8 0.1 0.0 -0.1 -0.1 -0.4 0.1 0.0 2013...... 101.773 101.346 100.979 100.168 98.636 102.332 101.468 1.8 1.3 1.0 0.2 -1.4 2.3 1.5 0.2 0.0 -0.5 0.1 -0.5 0.7 0.1 2014...... 103.687 102.868 103.001 100.169 97.777 104.445 103.178 1.9 1.5 2.0 0.0 -0.9 2.1 1.7 0.1 0.0 -0.1 0.0 -0.6 0.1 0.0 2015...... 104.757 103.126 103.696 95.146 89.728 104.717 103.512 1.0 0.3 0.7 -5.0 -8.2 0.3 0.3 -0.1 0.0 -0.1 0.0 -0.4 -0.3 -0.1 2016...... 105.899 104.235 103.706 93.248 86.531 105.059 104.306 1.1 1.1 0.0 -2.0 -3.6 0.3 0.8 -0.2 -0.1 -0.5 -0.1 -0.5 -0.5 -0.2 2017...... 107.932 106.073 105.268 95.923 88.511 107.797 106.249 1.9 1.8 1.5 2.9 2.3 2.6 1.9 0.1 0.1 -0.2 0.5 -0.2 0.1 0.1 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Government consumption expenditures and gross investment 2. Revised percent change less the previously published percent change Source: U.S. Bureau of Economic Analysis Table 6. Real Gross Domestic Product: Percent Change From Quarter One Year Ago ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ -----------------2012----------------- -----------------2013----------------- -----------------2014----------------- -----------------2015----------------- -----------------2016----------------- -----------------2017----------------- -------2018------- Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Gross domestic product (GDP).......... 2.7 2.4 2.5 1.5 1.6 1.3 1.9 2.6 1.5 2.6 3.0 2.7 3.8 3.4 2.4 2.0 1.6 1.3 1.5 1.9 1.9 2.1 2.3 2.5 2.6 2.8 Personal consumption expenditures (PCE)..... 1.6 1.5 1.3 1.6 1.3 1.2 1.5 1.9 1.7 2.8 3.5 3.8 4.3 4.0 3.6 3.0 1.3 1.2 2.7 2.8 2.6 2.5 2.4 2.7 2.4 2.7 Goods..................................... 1.7 2.0 2.4 2.4 2.9 3.0 3.3 3.5 2.4 4.1 4.5 5.0 5.4 4.8 4.8 4.0 2.9 3.0 3.5 3.6 3.2 3.4 3.6 4.6 3.9 4.0 Durable goods........................... 5.1 6.0 6.5 6.3 6.5 6.7 6.3 5.0 3.9 7.2 8.2 9.2 9.3 7.9 7.3 6.0 6.5 6.7 5.7 6.8 6.4 7.0 6.3 7.7 6.6 6.8 Nondurable goods........................ 0.2 0.2 0.6 0.7 1.3 1.3 1.9 2.8 1.7 2.7 2.8 3.0 3.6 3.4 3.6 3.0 1.3 1.3 2.4 2.0 1.6 1.6 2.2 3.0 2.6 2.6 Services.................................. 1.6 1.3 0.8 1.2 0.5 0.4 0.6 1.1 1.4 2.1 2.9 3.2 3.7 3.6 3.1 2.6 0.5 0.4 2.3 2.4 2.3 2.1 1.8 1.8 1.7 2.0 Gross private domestic investment........... 14.8 12.9 13.0 4.0 5.7 4.4 8.0 9.3 4.3 7.2 5.2 4.7 9.0 5.4 3.2 1.7 5.7 4.4 -2.3 1.1 2.8 4.5 6.8 5.0 6.2 4.6 Fixed investment.......................... 12.8 12.4 8.1 7.2 5.8 4.5 6.2 5.7 4.9 6.7 6.9 6.6 5.7 4.0 2.8 1.2 5.8 4.5 1.5 2.4 4.3 4.7 4.6 5.7 5.2 5.5 Nonresidential.......................... 12.9 12.6 7.2 5.6 4.3 2.3 4.4 5.4 5.4 7.6 8.0 6.4 4.5 2.7 0.8 -0.7 4.3 2.3 0.8 1.8 4.4 5.3 5.0 6.3 6.7 6.7 Structures............................ 22.7 17.5 9.7 4.0 -2.9 -2.4 3.7 6.7 12.7 13.2 8.0 8.8 2.9 0.0 -3.9 -10.7 -2.9 -2.4 -3.0 2.5 6.7 6.8 2.2 2.9 3.1 5.4 Equipment............................. 13.4 15.0 8.2 7.8 6.4 3.3 3.6 5.4 4.3 6.9 10.7 5.1 5.5 3.4 1.6 2.0 6.4 3.3 -2.7 -1.4 2.5 4.8 7.3 9.6 9.5 8.0 Intellectual property products........ 6.3 5.9 4.0 3.7 6.6 4.4 6.2 4.5 2.1 4.6 4.1 6.4 4.3 3.7 3.3 3.5 6.6 4.4 8.7 5.8 5.6 4.9 3.9 4.2 5.6 6.0 Residential............................. 12.0 11.7 12.6 15.4 12.8 15.4 14.5 7.1 2.5 2.7 2.5 7.8 10.7 9.9 11.1 8.9 12.8 15.4 4.0 4.5 3.9 2.7 3.0 3.8 0.2 1.4 Change in private inventories............. --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- Net exports of goods and services........... --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- Exports................................... 4.4 3.9 3.3 2.1 2.6 2.8 2.9 6.0 4.3 5.1 4.8 3.0 2.4 1.4 0.1 -1.6 2.6 2.8 1.2 0.8 2.6 2.7 2.1 4.7 4.3 5.7 Goods................................... 4.9 4.7 4.5 1.4 1.6 2.0 2.0 7.1 4.6 5.4 5.7 2.8 1.9 1.1 -0.9 -3.2 1.6 2.0 1.6 2.0 3.0 3.2 1.8 5.3 5.0 7.2 Services................................ 3.3 2.0 0.7 3.8 5.0 4.4 4.8 3.7 3.5 4.4 3.0 3.5 3.5 2.0 2.4 1.8 5.0 4.4 0.3 -1.5 1.9 1.8 2.6 3.6 3.0 2.8 Imports................................... 3.7 3.6 3.0 0.6 0.3 1.3 1.5 3.0 4.0 5.1 4.5 6.7 7.1 5.3 6.2 3.4 0.3 1.3 1.4 3.1 4.1 4.6 4.1 5.4 5.0 4.4 Goods................................... 3.3 3.6 3.2 0.5 0.4 1.5 1.7 3.4 4.5 5.6 4.9 7.2 7.7 5.8 6.5 3.2 0.4 1.5 0.9 2.8 4.1 4.4 4.0 5.9 5.2 4.9 Services................................ 5.8 3.5 1.9 1.4 0.2 0.3 0.3 1.1 1.6 2.5 2.3 4.0 4.3 3.0 5.0 3.9 0.2 0.3 3.8 4.3 4.3 5.3 4.4 3.5 3.8 2.5 Government consumption expenditures and gross investment........................... -2.6 -2.4 -1.2 -2.1 -2.5 -2.2 -2.6 -2.4 -1.8 -1.7 -0.5 0.2 1.1 2.2 1.9 2.2 -2.5 -2.2 1.1 0.9 -0.1 0.1 -0.4 0.1 0.7 1.2 Federal................................... -2.1 -2.6 -0.2 -2.6 -4.8 -4.8 -6.4 -6.1 -3.8 -4.0 -1.4 -1.2 -0.8 0.4 -0.9 1.2 -4.8 -4.8 0.6 0.2 0.1 1.1 0.4 1.3 1.9 2.2 National defense........................ -2.4 -4.0 -2.5 -4.7 -6.4 -5.8 -8.0 -6.5 -5.1 -5.6 -2.3 -3.6 -2.7 -1.4 -3.7 -0.2 -6.4 -5.8 0.2 -0.7 -0.5 1.7 0.2 1.3 2.1 2.1 Nondefense.............................. -1.6 0.1 3.9 1.2 -2.0 -3.1 -3.6 -5.5 -1.8 -1.3 0.0 2.7 2.3 3.2 3.5 3.4 -2.0 -3.1 1.2 1.5 1.1 0.3 0.6 1.3 1.7 2.4 State and local........................... -2.9 -2.3 -1.8 -1.7 -1.0 -0.4 0.1 0.2 -0.5 -0.2 0.2 1.1 2.4 3.2 3.7 2.8 -1.0 -0.4 1.3 1.4 -0.3 -0.5 -0.9 -0.5 0.0 0.7 Addenda: Gross domestic income (GDI)\1\............ 4.2 3.8 2.8 2.9 0.9 1.1 1.7 1.5 2.2 2.8 3.9 4.0 3.9 3.0 2.1 1.4 0.9 1.1 0.7 1.2 1.7 2.7 2.5 2.3 2.4 --- Average of GDP and GDI.................... 3.4 3.1 2.7 2.2 1.2 1.2 1.8 2.1 1.8 2.7 3.5 3.3 3.9 3.2 2.2 1.7 1.2 1.2 1.1 1.5 1.8 2.4 2.4 2.4 2.5 --- Final sales of domestic product........... 2.3 2.3 1.8 1.9 1.6 1.3 1.6 2.0 1.5 2.5 3.3 3.0 3.2 3.1 2.3 1.9 1.6 1.3 2.2 2.1 2.2 2.1 2.0 2.6 2.4 3.0 Gross domestic purchases.................. 2.6 2.4 2.5 1.2 1.2 1.1 1.7 2.2 1.5 2.7 3.0 3.3 4.5 3.9 3.2 2.7 1.2 1.1 1.6 2.2 2.2 2.4 2.6 2.6 2.7 2.7 Final sales to domestic purchasers........ 2.3 2.3 1.8 1.7 1.2 1.1 1.4 1.7 1.6 2.6 3.3 3.6 3.9 3.7 3.2 2.6 1.2 1.1 2.2 2.4 2.4 2.4 2.2 2.8 2.6 2.9 Final sales to private domestic purchasers............................... 3.5 3.4 2.5 2.6 2.1 1.8 2.3 2.6 2.3 3.5 4.1 4.3 4.5 4.0 3.4 2.7 2.1 1.8 2.4 2.7 2.9 2.9 2.8 3.3 2.9 3.2 Gross national product.................... 2.8 2.4 2.4 1.2 1.3 1.2 1.9 2.6 1.6 2.6 3.1 2.6 3.7 3.2 2.1 2.0 1.3 1.2 1.4 1.9 2.1 2.1 2.6 2.6 2.7 --- Real disposable personal income........... 2.4 3.6 2.4 4.9 -1.2 -1.3 -0.2 -2.5 3.1 3.6 4.3 5.2 4.9 4.4 4.1 3.1 -1.2 -1.3 1.1 1.6 2.0 2.7 2.9 2.8 2.8 2.9 Price indexes: Gross domestic purchases................ 2.3 1.6 1.5 1.8 1.5 1.4 1.5 1.5 1.6 1.9 1.9 1.4 0.5 0.4 0.3 0.1 1.5 1.4 0.7 1.3 2.0 1.7 1.8 1.9 2.0 2.3 Gross domestic purchases excluding food and energy\2\.......................... 2.0 1.7 1.6 1.8 1.5 1.5 1.6 1.7 1.8 1.9 1.9 1.6 1.2 1.1 0.9 0.8 1.5 1.5 1.2 1.5 1.9 1.7 1.7 1.8 1.9 2.1 GDP..................................... 2.1 1.7 1.8 2.1 1.9 1.7 1.7 1.8 1.8 2.1 2.1 1.6 1.2 1.1 0.9 0.9 1.9 1.7 1.0 1.5 2.1 1.7 1.9 2.0 2.0 2.4 GDP excluding food and energy\2\........ 2.1 1.8 1.7 2.0 1.7 1.7 1.9 2.1 2.0 2.1 2.1 1.7 1.4 1.4 1.2 1.1 1.7 1.7 1.4 1.8 2.1 1.9 1.8 1.9 2.0 2.3 PCE..................................... 2.5 1.8 1.6 1.8 1.5 1.3 1.4 1.2 1.4 1.8 1.7 1.2 0.2 0.2 0.2 0.3 1.5 1.3 1.0 1.6 2.0 1.6 1.6 1.8 1.9 2.2 PCE excluding food and energy\2\........ 2.1 1.9 1.7 1.8 1.5 1.4 1.5 1.6 1.5 1.7 1.7 1.5 1.4 1.3 1.3 1.2 1.5 1.4 1.7 1.8 1.8 1.6 1.5 1.6 1.7 1.9 Market-based PCE\3\..................... 2.5 1.7 1.5 1.5 1.3 0.9 1.0 0.8 0.9 1.4 1.3 0.8 -0.2 -0.1 -0.1 0.0 1.3 0.9 0.7 1.2 1.8 1.3 1.3 1.5 1.5 2.0 Market-based PCE excluding food and energy\2,3\............................ 2.1 1.9 1.7 1.5 1.3 1.0 1.1 1.1 1.0 1.3 1.3 1.2 1.1 1.1 1.0 1.1 1.3 1.0 1.5 1.5 1.5 1.2 1.1 1.2 1.3 1.7 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ 1. Gross domestic income deflated by the implicit price deflator for gross domestic product. 2. Food excludes personal consumption expenditures for purchased meals and beverages, which are classified in food services. 3. This index is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most implicit prices (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. Source: U.S. Bureau of Economic Analysis Table 7. Relation of Gross Domestic Product, Gross National Product, and National Income [Billions of dollars] ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 ---------------------------------------------------------------------------------------------------------------Seasonally adjusted at annual rates--------------------------------------------------------------------------------------------------------------- -----------------2012----------------- -----------------2013----------------- -----------------2014----------------- -----------------2015----------------- -----------------2016----------------- -----------------2017----------------- -------2018------- Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1\r\ Q2\r\ ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP)............ 14,451.9 14,712.8 14,448.9 14,992.1 15,542.6 16,197.0 16,784.9 17,521.7 18,219.3 18,707.2 19,485.4 16,019.8 16,152.3 16,257.2 16,358.9 16,569.6 16,637.9 16,848.7 17,083.1 17,102.9 17,425.8 17,719.8 17,838.5 17,970.4 18,221.3 18,331.1 18,354.4 18,409.1 18,640.7 18,799.6 18,979.2 19,162.6 19,359.1 19,588.1 19,831.8 20,041.0 20,402.5 Plus: Income receipts from the rest of the world.............................. 866.6 848.8 647.8 715.2 789.2 799.7 823.4 854.2 839.3 859.1 957.1 810.4 787.6 800.5 800.3 809.4 821.8 827.7 834.8 842.7 849.9 871.9 852.1 835.7 854.8 853.9 812.8 828.7 860.7 854.5 892.6 899.3 924.9 979.6 1,024.5 1,063.2 .... Less: Income payments to the rest of the world.............................. 757.6 694.2 505.8 519.5 552.8 567.4 592.7 612.5 613.1 643.8 713.4 562.1 559.4 571.8 576.1 595.3 593.5 586.0 595.9 597.5 612.8 612.3 627.3 603.4 635.5 635.3 578.0 624.6 648.2 656.6 645.8 666.6 708.7 724.6 753.7 794.4 .... Equals: Gross national product.......... 14,560.9 14,867.5 14,590.9 15,187.8 15,779.0 16,429.3 17,015.6 17,763.4 18,445.5 18,922.5 19,729.1 16,268.0 16,380.4 16,485.8 16,583.0 16,783.7 16,866.2 17,090.5 17,322.0 17,348.1 17,662.9 17,979.5 18,063.3 18,202.7 18,440.6 18,549.7 18,589.2 18,613.3 18,853.3 18,997.5 19,226.0 19,395.3 19,575.4 19,843.0 20,102.6 20,309.8 .... Less: Consumption of fixed capital...... 2,252.8 2,358.8 2,371.5 2,390.9 2,474.5 2,576.0 2,681.2 2,817.0 2,917.5 2,990.5 3,116.2 2,536.5 2,564.4 2,591.0 2,612.0 2,635.0 2,664.2 2,694.2 2,731.4 2,768.4 2,798.2 2,834.6 2,866.6 2,886.4 2,907.6 2,930.9 2,945.0 2,953.5 2,979.6 3,001.5 3,027.5 3,064.9 3,101.1 3,134.8 3,163.9 3,203.4 3,252.2 Less: Statistical discrepancy........... 17.7 182.9 192.2 61.0 -53.2 -241.3 -160.3 -299.0 -254.9 -126.9 -143.2 -268.1 -260.7 -148.6 -287.9 -162.0 -242.4 -125.5 -111.3 -286.8 -287.8 -286.8 -334.5 -319.2 -233.2 -237.0 -230.4 -228.0 -80.2 -85.2 -114.3 -194.9 -186.8 -114.4 -76.6 -159.4 .... Equals: National income................. 12,290.4 12,325.8 12,027.2 12,735.8 13,357.7 14,094.7 14,494.7 15,245.5 15,783.0 16,058.9 16,756.1 13,999.6 14,076.7 14,043.4 14,258.9 14,310.7 14,444.4 14,521.8 14,701.9 14,866.5 15,152.5 15,431.6 15,531.2 15,635.5 15,766.1 15,855.8 15,874.6 15,887.7 15,953.9 16,081.2 16,312.9 16,525.2 16,661.1 16,822.6 17,015.3 17,265.8 .... Compensation of employees............. 7,878.9 8,057.0 7,758.5 7,924.9 8,225.9 8,566.7 8,834.2 9,248.1 9,696.8 9,956.2 10,407.2 8,455.9 8,503.0 8,545.3 8,762.6 8,731.7 8,818.7 8,844.7 8,941.7 9,130.0 9,171.0 9,271.7 9,419.7 9,554.1 9,665.8 9,752.5 9,814.9 9,839.5 9,890.2 9,986.1 10,109.3 10,249.2 10,339.9 10,471.2 10,568.6 10,709.6 10,818.9 Wages and salaries.................. 6,396.8 6,534.2 6,248.6 6,372.1 6,625.9 6,927.5 7,113.2 7,473.2 7,854.4 8,080.7 8,453.8 6,835.8 6,875.2 6,905.3 7,093.6 7,043.0 7,102.1 7,112.0 7,195.6 7,372.5 7,407.1 7,493.4 7,620.0 7,734.5 7,827.1 7,900.7 7,955.4 7,981.5 8,025.0 8,106.7 8,209.6 8,325.0 8,395.7 8,506.6 8,588.1 8,710.2 8,804.5 Supplements to wages and salaries... 1,482.1 1,522.7 1,509.9 1,552.9 1,600.0 1,639.2 1,721.0 1,774.8 1,842.4 1,875.6 1,953.4 1,620.1 1,627.8 1,640.0 1,669.0 1,688.7 1,716.6 1,732.7 1,746.2 1,757.5 1,763.9 1,778.3 1,799.7 1,819.6 1,838.7 1,851.8 1,859.6 1,858.0 1,865.2 1,879.4 1,899.7 1,924.2 1,944.2 1,964.6 1,980.5 1,999.4 2,014.4 Proprietors' income with inventory valuation and capital consumption adjustments.......................... 994.0 960.9 938.5 1,108.7 1,229.3 1,347.3 1,403.6 1,447.6 1,421.9 1,419.3 1,500.9 1,322.8 1,356.5 1,345.8 1,364.2 1,388.3 1,411.8 1,412.5 1,401.7 1,417.7 1,450.3 1,466.4 1,456.0 1,431.0 1,410.4 1,429.5 1,416.5 1,415.2 1,404.6 1,418.8 1,438.6 1,475.1 1,495.0 1,507.5 1,526.1 1,549.9 1,569.1 Rental income of persons with capital consumption adjustment............... 184.4 256.7 327.3 394.2 478.6 518.0 557.0 608.4 651.8 694.8 730.2 509.9 517.5 520.5 524.0 537.9 550.2 564.6 575.2 590.7 604.7 615.4 622.9 631.1 647.2 659.2 669.7 685.2 694.0 696.3 703.8 719.0 724.4 732.0 745.3 749.3 757.9 Corporate profits with inventory valuation and capital consumption adjustments.......................... 1,533.2 1,285.8 1,386.8 1,728.7 1,809.8 1,997.4 2,010.7 2,118.8 2,057.3 2,035.0 2,099.3 2,025.6 2,006.9 1,985.4 1,971.7 1,983.5 2,000.2 2,011.1 2,047.9 1,982.9 2,136.0 2,188.5 2,167.9 2,133.7 2,102.5 2,056.6 1,936.2 1,995.2 2,017.7 2,044.6 2,082.4 2,055.9 2,089.5 2,101.1 2,150.7 2,177.3 .... Net interest and miscellaneous payments............................. 633.6 672.4 539.3 465.2 461.7 503.7 465.9 517.9 591.8 546.0 576.4 516.8 530.3 495.0 472.8 467.2 453.8 465.7 477.0 486.1 506.7 535.1 543.6 566.1 599.1 611.1 590.9 562.8 548.0 535.3 537.7 589.3 574.6 561.5 580.1 591.9 580.4 Taxes on production and imports less subsidies............................ 982.2 997.2 968.5 1,007.3 1,043.7 1,078.1 1,128.9 1,182.8 1,212.6 1,241.9 1,285.9 1,072.5 1,075.8 1,075.0 1,089.0 1,115.2 1,120.7 1,135.1 1,144.7 1,162.1 1,180.2 1,190.2 1,198.7 1,201.2 1,211.3 1,213.7 1,224.4 1,228.0 1,232.1 1,247.6 1,259.8 1,266.5 1,280.5 1,290.7 1,305.8 1,337.4 1,353.0 Business current transfer payments (net)................................ 98.3 114.0 124.4 126.8 128.1 98.8 110.3 132.9 156.7 168.1 161.2 112.2 102.1 91.3 89.9 102.1 105.3 104.4 129.3 109.7 115.2 174.6 132.0 126.2 136.6 138.4 225.5 163.8 170.1 154.8 183.6 173.0 160.7 164.0 147.0 161.2 148.9 Current surplus of government enterprises.......................... -14.2 -18.2 -16.1 -20.1 -19.4 -15.4 -15.9 -11.0 -5.8 -2.3 -4.9 -16.1 -15.4 -14.9 -15.2 -15.3 -16.4 -16.3 -15.7 -12.8 -11.5 -10.3 -9.4 -7.8 -6.9 -5.1 -3.5 -2.0 -2.8 -2.3 -2.3 -2.8 -3.5 -5.4 -8.2 -10.8 -13.0 Addenda: Gross domestic income (GDI)........... 14,434.2 14,530.0 14,256.8 14,931.0 15,595.8 16,438.4 16,945.2 17,820.8 18,474.2 18,834.1 19,628.6 16,287.9 16,413.0 16,405.8 16,646.8 16,731.6 16,880.3 16,974.3 17,194.5 17,389.8 17,713.6 18,006.6 18,173.0 18,289.6 18,454.5 18,568.1 18,584.8 18,637.1 18,720.9 18,884.8 19,093.6 19,357.4 19,545.9 19,702.5 19,908.5 20,200.5 .... Average of GDP and GDI................ 14,443.0 14,621.4 14,352.9 14,961.5 15,569.2 16,317.7 16,865.0 17,671.3 18,346.8 18,770.7 19,557.0 16,153.8 16,282.6 16,331.5 16,502.8 16,650.6 16,759.1 16,911.5 17,138.8 17,246.3 17,569.7 17,863.2 18,005.7 18,130.0 18,337.9 18,449.6 18,469.6 18,523.1 18,680.8 18,842.2 19,036.4 19,260.0 19,452.5 19,645.3 19,870.2 20,120.8 .... Statistical discrepancy as a percentage of GDP.................... 0.1 1.2 1.3 0.4 -0.3 -1.5 -1.0 -1.7 -1.4 -0.7 -0.7 -1.7 -1.6 -0.9 -1.8 -1.0 -1.5 -0.7 -0.7 -1.7 -1.7 -1.6 -1.9 -1.8 -1.3 -1.3 -1.3 -1.2 -0.4 -0.5 -0.6 -1.0 -1.0 -0.6 -0.4 -0.8 .... ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2018. Source: U.S. Bureau of Economic Analysis Table 8. Personal Income and Its Disposition [Billions of dollars] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 --------------------------------------------------------------------------------------------------Seasonally adjusted at annual rates-------------------------------------------------------------------------------------------------- ---------------2012--------------- ---------------2013--------------- ---------------2014--------------- ---------------2015--------------- ---------------2016--------------- ---------------2017--------------- ------2018------ Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1\r\ Q2\r\ ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Personal income\1\...................... 12,007.8 12,442.2 12,059.1 12,551.6 13,326.8 14,010.1 14,181.1 14,991.8 15,719.5 16,125.1 16,830.9 13,785.7 13,946.8 13,915.4 14,392.6 14,001.2 14,135.0 14,232.0 14,356.2 14,660.2 14,892.5 15,114.4 15,300.2 15,471.3 15,681.7 15,842.9 15,882.1 15,946.5 16,031.6 16,170.6 16,351.8 16,604.4 16,721.2 16,895.1 17,103.1 17,318.9 17,502.6 Compensation of employees............. 7,878.9 8,057.0 7,758.5 7,924.9 8,225.9 8,566.7 8,834.2 9,248.1 9,696.8 9,956.2 10,407.2 8,455.9 8,503.0 8,545.3 8,762.6 8,731.7 8,818.7 8,844.7 8,941.7 9,130.0 9,171.0 9,271.7 9,419.7 9,554.1 9,665.8 9,752.5 9,814.9 9,839.5 9,890.2 9,986.1 10,109.3 10,249.2 10,339.9 10,471.2 10,568.6 10,709.6 10,818.9 Wages and salaries.................. 6,396.8 6,534.2 6,248.6 6,372.1 6,625.9 6,927.5 7,113.2 7,473.2 7,854.4 8,080.7 8,453.8 6,835.8 6,875.2 6,905.3 7,093.6 7,043.0 7,102.1 7,112.0 7,195.6 7,372.5 7,407.1 7,493.4 7,620.0 7,734.5 7,827.1 7,900.7 7,955.4 7,981.5 8,025.0 8,106.7 8,209.6 8,325.0 8,395.7 8,506.6 8,588.1 8,710.2 8,804.5 Supplements to wages and salaries... 1,482.1 1,522.7 1,509.9 1,552.9 1,600.0 1,639.2 1,721.0 1,774.8 1,842.4 1,875.6 1,953.4 1,620.1 1,627.8 1,640.0 1,669.0 1,688.7 1,716.6 1,732.7 1,746.2 1,757.5 1,763.9 1,778.3 1,799.7 1,819.6 1,838.7 1,851.8 1,859.6 1,858.0 1,865.2 1,879.4 1,899.7 1,924.2 1,944.2 1,964.6 1,980.5 1,999.4 2,014.4 Proprietors' income with inventory valuation and capital consumption adjustments.......................... 994.0 960.9 938.5 1,108.7 1,229.3 1,347.3 1,403.6 1,447.6 1,421.9 1,419.3 1,500.9 1,322.8 1,356.5 1,345.8 1,364.2 1,388.3 1,411.8 1,412.5 1,401.7 1,417.7 1,450.3 1,466.4 1,456.0 1,431.0 1,410.4 1,429.5 1,416.5 1,415.2 1,404.6 1,418.8 1,438.6 1,475.1 1,495.0 1,507.5 1,526.1 1,549.9 1,569.1 Farm................................ 40.3 40.2 28.1 39.0 64.9 60.9 88.3 70.1 56.4 37.5 38.9 60.9 59.0 60.3 63.4 94.1 95.3 94.3 69.6 66.9 78.1 66.7 68.5 54.5 55.8 60.2 55.0 40.9 41.2 36.7 31.0 42.3 41.5 36.4 35.4 35.2 39.6 Nonfarm............................. 953.8 920.7 910.5 1,069.7 1,164.4 1,286.4 1,315.3 1,377.5 1,365.5 1,381.8 1,462.0 1,261.9 1,297.5 1,285.5 1,300.8 1,294.2 1,316.5 1,318.2 1,332.0 1,350.8 1,372.2 1,399.7 1,387.4 1,376.5 1,354.6 1,369.3 1,361.4 1,374.4 1,363.4 1,382.0 1,407.6 1,432.9 1,453.5 1,471.1 1,490.6 1,514.7 1,529.5 Rental income of persons with capital consumption adjustment............... 184.4 256.7 327.3 394.2 478.6 518.0 557.0 608.4 651.8 694.8 730.2 509.9 517.5 520.5 524.0 537.9 550.2 564.6 575.2 590.7 604.7 615.4 622.9 631.1 647.2 659.2 669.7 685.2 694.0 696.3 703.8 719.0 724.4 732.0 745.3 749.3 757.9 Personal income receipts on assets.... 2,183.8 2,200.9 1,852.2 1,782.3 1,950.9 2,165.6 2,066.3 2,301.2 2,471.3 2,516.6 2,631.6 2,097.0 2,151.7 2,086.7 2,327.1 2,030.5 2,041.1 2,082.0 2,111.6 2,189.9 2,285.0 2,349.0 2,381.0 2,399.8 2,479.1 2,517.1 2,489.3 2,485.9 2,505.5 2,524.5 2,550.4 2,607.4 2,610.9 2,615.1 2,692.9 2,719.5 2,749.3 Personal interest income............ 1,368.6 1,396.3 1,299.3 1,238.5 1,269.4 1,330.5 1,273.0 1,347.8 1,438.1 1,440.9 1,523.0 1,341.6 1,365.3 1,290.2 1,325.1 1,273.4 1,261.0 1,272.4 1,285.2 1,314.8 1,339.7 1,363.8 1,372.9 1,354.6 1,457.2 1,492.3 1,448.1 1,430.9 1,434.9 1,439.8 1,458.1 1,523.9 1,490.9 1,500.1 1,577.2 1,597.6 1,606.9 Personal dividend income............ 815.3 804.6 553.0 543.9 681.5 835.1 793.3 953.4 1,033.3 1,075.7 1,108.6 755.4 786.5 796.6 1,002.0 757.1 780.1 809.7 826.4 875.0 945.3 985.2 1,008.1 1,045.3 1,021.9 1,024.7 1,041.2 1,055.1 1,070.6 1,084.6 1,092.3 1,083.5 1,120.0 1,115.1 1,115.7 1,121.9 1,142.4 Personal current transfer receipts.... 1,728.1 1,955.1 2,146.7 2,325.2 2,358.7 2,363.0 2,424.3 2,540.3 2,683.0 2,778.1 2,859.7 2,340.4 2,362.8 2,364.7 2,384.2 2,403.5 2,416.2 2,434.5 2,443.2 2,474.1 2,526.5 2,567.4 2,593.3 2,643.1 2,680.6 2,696.5 2,712.0 2,746.6 2,769.8 2,788.5 2,807.3 2,834.2 2,841.6 2,875.3 2,887.6 2,933.9 2,964.2 Less: Contributions for government social insurance, domestic........... 961.4 988.4 964.3 983.7 916.7 950.5 1,104.3 1,153.8 1,205.3 1,239.9 1,298.6 940.3 944.7 947.6 969.4 1,090.6 1,103.1 1,106.3 1,117.2 1,142.1 1,144.9 1,155.6 1,172.6 1,187.8 1,201.4 1,211.8 1,220.2 1,225.9 1,232.4 1,243.6 1,257.6 1,280.5 1,290.6 1,306.0 1,317.3 1,343.4 1,356.7 Less: Personal current taxes............ 1,492.2 1,507.2 1,152.0 1,237.3 1,453.2 1,508.9 1,675.8 1,785.4 1,935.2 1,954.3 2,034.6 1,467.8 1,487.1 1,509.5 1,571.4 1,649.3 1,681.9 1,674.5 1,697.7 1,748.3 1,761.0 1,798.1 1,834.4 1,900.1 1,940.0 1,943.7 1,957.1 1,919.9 1,944.2 1,968.7 1,984.3 2,004.9 2,014.2 2,048.5 2,070.9 2,029.9 2,046.3 Equals: Disposable personal income...... 10,515.6 10,935.0 10,907.1 11,314.3 11,873.6 12,501.2 12,505.3 13,206.4 13,784.3 14,170.9 14,796.3 12,317.9 12,459.7 12,406.0 12,821.2 12,351.9 12,453.1 12,557.5 12,658.5 12,911.9 13,131.5 13,316.3 13,465.8 13,571.2 13,741.7 13,899.3 13,925.0 14,026.7 14,087.4 14,202.0 14,367.5 14,599.6 14,707.0 14,846.6 15,032.2 15,288.9 15,456.4 Less: Personal outlays.................. 10,123.9 10,390.1 10,240.6 10,573.5 11,023.7 11,393.6 11,703.9 12,236.1 12,740.1 13,222.7 13,809.5 11,309.1 11,353.5 11,398.0 11,513.9 11,608.6 11,625.5 11,716.7 11,864.9 11,974.9 12,162.0 12,335.1 12,472.3 12,529.3 12,700.1 12,830.8 12,900.3 12,979.1 13,155.8 13,302.2 13,453.6 13,584.7 13,716.7 13,853.3 14,083.3 14,194.8 14,405.3 Equals: Personal saving................. 391.6 544.9 666.5 740.9 849.8 1,107.6 801.4 970.3 1,044.2 948.2 986.8 1,008.9 1,106.1 1,008.0 1,307.3 743.2 827.7 840.9 793.6 937.0 969.5 981.2 993.5 1,041.9 1,041.6 1,068.5 1,024.7 1,047.6 931.6 899.7 913.9 1,014.9 990.2 993.4 948.9 1,094.1 1,051.1 Personal saving as a percentage of disposable personal income........... 3.7 5.0 6.1 6.5 7.2 8.9 6.4 7.3 7.6 6.7 6.7 8.2 8.9 8.1 10.2 6.0 6.6 6.7 6.3 7.3 7.4 7.4 7.4 7.7 7.6 7.7 7.4 7.5 6.6 6.3 6.4 7.0 6.7 6.7 6.3 7.2 6.8 Addenda: Personal income excluding current transfer receipts, billions of chained (2012) dollars\2\............ 11,242.3 11,135.2 10,534.5 10,685.4 11,177.0 11,647.1 11,600.6 12,104.3 12,641.3 12,804.8 13,171.4 11,498.6 11,610.1 11,543.7 11,934.1 11,485.1 11,596.4 11,627.3 11,693.5 11,905.4 12,021.7 12,161.2 12,328.9 12,502.4 12,609.5 12,712.4 12,741.1 12,762.9 12,747.9 12,808.2 12,901.4 13,049.4 13,127.2 13,207.3 13,301.7 13,378.8 13,460.0 Disposable personal income, billions of chained (2012) dollars\2\......... 11,500.3 11,610.8 11,591.7 11,822.1 12,099.8 12,501.2 12,339.1 12,838.1 13,366.5 13,595.2 13,949.2 12,375.3 12,487.8 12,398.4 12,741.9 12,231.9 12,323.0 12,376.3 12,425.2 12,614.4 12,765.9 12,906.9 13,065.2 13,226.6 13,327.8 13,440.4 13,471.4 13,562.3 13,541.5 13,592.9 13,685.4 13,835.3 13,909.8 13,986.2 14,065.9 14,219.6 14,309.8 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ r Revised. Revisions include changes to series affected by the incorporation of revised wage and salary estimates for the first quarter of 2018. 1. Personal income is also equal to national income less corporate profits with inventory valuation and capital consumption adjustments, taxes on production and imports less subsidies, contributions for government social insurance, net interest and miscellaneous payments, business current transfer payments (net), and current surplus of government enterprises, plus personal income receipts on assets, and personal current transfer receipts. 2. The current-dollar measure is deflated by the implicit price deflator for personal consumption expenditures. Source: U.S. Bureau of Economic Analysis Table 9A. Corporate Profits [Billions of dollars] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 --------------------------------------------------------------------------------------------------Seasonally adjusted at annual rates-------------------------------------------------------------------------------------------------- ---------------2012--------------- ---------------2013--------------- ---------------2014--------------- ---------------2015--------------- ---------------2016--------------- ---------------2017--------------- ------2018------ Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Corporate profits with inventory valuation and capital consumption adjustments........ 1,533.2 1,285.8 1,386.8 1,728.7 1,809.8 1,997.4 2,010.7 2,118.8 2,057.3 2,035.0 2,099.3 2,025.6 2,006.9 1,985.4 1,971.7 1,983.5 2,000.2 2,011.1 2,047.9 1,982.9 2,136.0 2,188.5 2,167.9 2,133.7 2,102.5 2,056.6 1,936.2 1,995.2 2,017.7 2,044.6 2,082.4 2,055.9 2,089.5 2,101.1 2,150.7 2,177.3 --- Less: Taxes on corporate income............. 392.1 256.1 204.2 272.5 281.1 334.9 362.8 407.4 397.2 392.9 350.7 320.1 334.5 342.0 342.8 360.8 357.3 364.9 368.1 405.7 425.8 396.3 401.7 417.5 421.9 391.5 358.0 384.4 385.5 413.0 388.5 348.0 355.8 365.2 333.8 212.0 --- Equals: Profits after tax with inventory valuation and capital consumption adjustments................................ 1,141.1 1,029.7 1,182.6 1,456.2 1,528.7 1,662.5 1,647.9 1,711.5 1,660.1 1,642.1 1,748.6 1,705.5 1,672.4 1,643.4 1,628.9 1,622.7 1,642.9 1,646.2 1,679.8 1,577.2 1,710.2 1,792.2 1,766.2 1,716.3 1,680.6 1,665.1 1,578.2 1,610.8 1,632.2 1,631.6 1,693.9 1,707.8 1,733.7 1,735.9 1,816.8 1,965.3 --- Net dividends............................. 853.5 840.3 622.1 643.2 779.1 948.7 1,009.0 1,096.1 1,164.9 1,187.4 1,215.3 879.7 902.1 906.9 1,106.1 870.8 1,127.8 958.4 1,079.0 1,052.9 1,093.8 1,105.7 1,131.9 1,148.0 1,128.9 1,157.4 1,225.2 1,180.2 1,180.9 1,196.3 1,192.4 1,217.7 1,233.3 1,215.5 1,194.8 1,213.2 1,237.8 Undistributed profits with inventory valuation and capital consumption adjustments.............................. 287.6 189.4 560.6 813.0 749.6 713.9 638.9 615.4 495.2 454.7 533.3 825.8 770.3 736.6 522.8 751.9 515.2 687.9 600.8 524.3 616.4 686.5 634.3 568.2 551.7 507.7 353.0 430.6 451.3 435.3 501.5 490.2 500.4 520.5 622.0 752.1 --- Addenda for corporate cash flow: Net cash flow with inventory valuation adjustment............................... 1,476.5 1,510.2 1,908.0 2,104.7 2,113.0 2,113.7 2,094.8 2,140.4 2,091.8 2,080.5 1,941.4 2,218.8 2,164.2 2,147.8 1,924.1 2,187.1 1,962.2 2,149.6 2,080.3 2,027.7 2,141.0 2,190.6 2,202.2 2,144.8 2,144.9 2,113.4 1,964.3 2,046.0 2,071.0 2,071.7 2,133.4 2,136.6 2,194.1 2,086.2 1,348.6 2,498.7 --- Undistributed profits with inventory valuation and capital consumption adjustments............................ 287.6 189.4 560.6 813.0 749.6 713.9 638.9 615.4 495.2 454.7 533.3 825.8 770.3 736.6 522.8 751.9 515.2 687.9 600.8 524.3 616.4 686.5 634.3 568.2 551.7 507.7 353.0 430.6 451.3 435.3 501.5 490.2 500.4 520.5 622.0 752.1 --- Consumption of fixed capital............ 1,188.9 1,256.6 1,263.8 1,271.2 1,324.6 1,392.5 1,450.2 1,528.3 1,593.4 1,630.3 1,699.6 1,367.6 1,386.1 1,402.0 1,414.1 1,425.6 1,441.2 1,457.2 1,476.7 1,496.0 1,517.8 1,539.7 1,559.7 1,573.5 1,588.8 1,602.0 1,609.4 1,613.7 1,625.3 1,634.8 1,647.3 1,671.7 1,692.1 1,709.0 1,725.5 1,745.6 1,772.3 Less: Capital transfers paid (net)...... 0.0 -64.2 -83.6 -20.6 -38.8 -7.4 -5.7 3.3 -3.2 4.4 291.5 -25.4 -7.9 -9.2 12.8 -9.6 -5.8 -4.5 -2.9 -7.4 -6.9 35.6 -8.1 -3.0 -4.4 -3.7 -1.9 -1.7 5.6 -1.6 15.4 25.3 -1.5 143.4 998.9 -1.1 --- Addenda: Profits before tax (without inventory valuation and capital consumption adjustments)............................. 1,751.9 1,379.3 1,467.5 1,834.0 1,818.2 2,156.1 2,151.5 2,262.5 2,134.2 2,129.7 2,181.9 2,199.9 2,136.0 2,160.1 2,128.5 2,127.1 2,114.7 2,157.5 2,206.8 2,172.7 2,290.1 2,316.1 2,271.3 2,194.0 2,222.8 2,129.6 1,990.3 2,037.8 2,146.8 2,137.5 2,196.7 2,211.8 2,200.4 2,230.7 2,084.6 2,111.0 --- Profits after tax (without inventory valuation and capital consumption adjustments)............................. 1,359.9 1,123.2 1,263.3 1,561.5 1,537.2 1,821.2 1,788.7 1,855.2 1,737.0 1,736.9 1,831.2 1,879.8 1,801.4 1,818.0 1,785.6 1,766.3 1,757.4 1,792.6 1,838.6 1,767.0 1,864.3 1,919.8 1,869.7 1,776.5 1,800.9 1,738.2 1,632.3 1,653.4 1,761.2 1,724.6 1,808.2 1,863.8 1,844.6 1,865.5 1,750.8 1,899.0 --- Inventory valuation adjustment............ -43.6 -34.8 2.6 -47.6 -68.0 -11.4 14.4 3.6 52.8 -1.0 -45.5 -31.3 18.3 -24.9 -7.9 18.2 40.9 5.2 -6.8 -44.4 -6.8 20.9 44.5 81.0 16.3 55.2 58.8 63.4 -32.4 -5.2 -29.9 -63.8 -13.0 -30.8 -74.4 -74.1 --- Capital consumption adjustment............ -175.1 -58.6 -83.3 -57.7 59.6 -147.2 -155.2 -147.3 -129.8 -93.7 -37.1 -143.1 -147.3 -149.7 -148.8 -161.9 -155.4 -151.6 -152.0 -145.3 -147.3 -148.4 -148.0 -141.2 -136.6 -128.3 -112.9 -106.0 -96.7 -87.7 -84.5 -92.1 -97.9 -98.8 140.4 140.4 135.0 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Source: U.S. Bureau of Economic Analysis Table 9B. Corporate Profits: Percent Change From Preceding Period ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 ------------------------------------------------------------------------------------------------------------Quarterly rates------------------------------------------------------------------------------------------------------------ ---------------2012--------------- ---------------2013--------------- ---------------2014--------------- ---------------2015--------------- ---------------2016--------------- ---------------2017--------------- ------2018------ Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Corporate profits with inventory valuation and capital consumption adjustments........ -6.9 -16.1 7.9 24.7 4.7 10.4 0.7 5.4 -2.9 -1.1 3.2 3.4 -0.9 -1.1 -0.7 0.6 0.8 0.5 1.8 -3.2 7.7 2.5 -0.9 -1.6 -1.5 -2.2 -5.9 3.0 1.1 1.3 1.8 -1.3 1.6 0.6 2.4 1.2 --- Less: Taxes on corporate income............. -8.9 -34.7 -20.3 33.5 3.1 19.1 8.3 12.3 -2.5 -1.1 -10.7 7.9 4.5 2.2 0.2 5.2 -1.0 2.1 0.9 10.2 4.9 -6.9 1.3 3.9 1.1 -7.2 -8.5 7.4 0.3 7.1 -5.9 -10.4 2.2 2.6 -8.6 -36.5 --- Equals: Profits after tax with inventory valuation and capital consumption adjustments................................ -6.1 -9.8 14.9 23.1 5.0 8.8 -0.9 3.9 -3.0 -1.1 6.5 2.6 -1.9 -1.7 -0.9 -0.4 1.2 0.2 2.0 -6.1 8.4 4.8 -1.5 -2.8 -2.1 -0.9 -5.2 2.1 1.3 0.0 3.8 0.8 1.5 0.1 4.7 8.2 --- Net dividends............................. 13.0 -1.5 -26.0 3.4 21.1 21.8 6.4 8.6 6.3 1.9 2.3 7.3 2.5 0.5 22.0 -21.3 29.5 -15.0 12.6 -2.4 3.9 1.1 2.4 1.4 -1.7 2.5 5.9 -3.7 0.1 1.3 -0.3 2.1 1.3 -1.4 -1.7 1.5 2.0 Undistributed profits with inventory valuation and capital consumption adjustments.............................. -37.6 -34.1 196.0 45.0 -7.8 -4.8 -10.5 -3.7 -19.5 -8.2 17.3 -1.9 -6.7 -4.4 -29.0 43.8 -31.5 33.5 -12.7 -12.7 17.6 11.4 -7.6 -10.4 -2.9 -8.0 -30.5 22.0 4.8 -3.5 15.2 -2.3 2.1 4.0 19.5 20.9 --- Addenda for corporate cash flow: Net cash flow with inventory valuation adjustment............................... -6.6 2.3 26.3 10.3 0.4 0.0 -0.9 2.2 -2.3 -0.5 -6.7 -1.6 -2.5 -0.8 -10.4 13.7 -10.3 9.6 -3.2 -2.5 5.6 2.3 0.5 -2.6 0.0 -1.5 -7.1 4.2 1.2 0.0 3.0 0.1 2.7 -4.9 -35.4 85.3 --- Undistributed profits with inventory valuation and capital consumption adjustments............................ -37.6 -34.1 196.0 45.0 -7.8 -4.8 -10.5 -3.7 -19.5 -8.2 17.3 -1.9 -6.7 -4.4 -29.0 43.8 -31.5 33.5 -12.7 -12.7 17.6 11.4 -7.6 -10.4 -2.9 -8.0 -30.5 22.0 4.8 -3.5 15.2 -2.3 2.1 4.0 19.5 20.9 --- Consumption of fixed capital............ 6.2 5.7 0.6 0.6 4.2 5.1 4.1 5.4 4.3 2.3 4.3 1.3 1.4 1.2 0.9 0.8 1.1 1.1 1.3 1.3 1.5 1.4 1.3 0.9 1.0 0.8 0.5 0.3 0.7 0.6 0.8 1.5 1.2 1.0 1.0 1.2 1.5 Less: Capital transfers paid (net)...... --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- Addenda: Profits before tax (without inventory valuation and capital consumption adjustments)............................. -5.0 -21.3 6.4 25.0 -0.9 18.6 -0.2 5.2 -5.7 -0.2 2.4 15.0 -2.9 1.1 -1.5 -0.1 -0.6 2.0 2.3 -1.5 5.4 1.1 -1.9 -3.4 1.3 -4.2 -6.5 2.4 5.3 -0.4 2.8 0.7 -0.5 1.4 -6.5 1.3 --- Profits after tax (without inventory valuation and capital consumption adjustments)............................. -3.8 -17.4 12.5 23.6 -1.6 18.5 -1.8 3.7 -6.4 0.0 5.4 16.3 -4.2 0.9 -1.8 -1.1 -0.5 2.0 2.6 -3.9 5.5 3.0 -2.6 -5.0 1.4 -3.5 -6.1 1.3 6.5 -2.1 4.9 3.1 -1.0 1.1 -6.1 8.5 --- Inventory valuation adjustment............ --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- Capital consumption adjustment............ --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Source: U.S. Bureau of Economic Analysis Table 10A. Corporate Profits by Industry [Billions of dollars] ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 ----------------------------------------------------------------------------------------------------------Seasonally adjusted at annual rates---------------------------------------------------------------------------------------------------------- -----------------2012----------------- -----------------2013----------------- -----------------2014----------------- -----------------2015----------------- -----------------2016----------------- -----------------2017----------------- 2018 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Corporate profits with inventory valuation and capital consumption adjustments....................... 1,533.2 1,285.8 1,386.8 1,728.7 1,809.8 1,997.4 2,010.7 2,118.8 2,057.3 2,035.0 2,099.3 2,025.6 2,006.9 1,985.4 1,971.7 1,983.5 2,000.2 2,011.1 2,047.9 1,982.9 2,136.0 2,188.5 2,167.9 2,133.7 2,102.5 2,056.6 1,936.2 1,995.2 2,017.7 2,044.6 2,082.4 2,055.9 2,089.5 2,101.1 2,150.7 2,177.3 Domestic industries.................... 1,195.4 895.7 1,038.0 1,343.0 1,397.2 1,592.1 1,611.9 1,714.0 1,654.7 1,628.5 1,650.4 1,606.9 1,605.9 1,583.0 1,572.4 1,596.1 1,605.3 1,602.5 1,643.5 1,575.5 1,740.3 1,766.9 1,773.1 1,730.6 1,706.2 1,657.4 1,524.7 1,605.7 1,617.4 1,654.2 1,636.6 1,622.7 1,670.2 1,641.3 1,667.6 1,690.7 Financial............................ 266.9 71.7 331.8 378.9 357.3 439.9 391.6 445.6 397.1 438.4 445.6 461.8 431.0 456.6 410.5 361.8 366.6 397.7 440.3 445.3 500.9 417.8 418.3 436.5 446.1 349.6 356.3 343.7 441.5 476.6 491.9 434.4 438.7 458.9 450.5 441.2 Nonfinancial......................... 928.5 824.0 706.2 964.0 1,039.9 1,152.1 1,220.2 1,268.4 1,257.6 1,190.0 1,204.8 1,145.1 1,174.9 1,126.5 1,161.9 1,234.3 1,238.7 1,204.8 1,203.2 1,130.3 1,239.4 1,349.2 1,354.8 1,294.1 1,260.1 1,307.8 1,168.4 1,262.0 1,175.8 1,177.6 1,144.7 1,188.3 1,231.5 1,182.4 1,217.2 1,249.5 Rest of the world...................... 337.8 390.2 348.8 385.8 412.6 405.4 398.8 404.9 402.5 406.5 448.8 418.6 401.1 402.4 399.4 387.4 394.9 408.7 404.4 407.4 395.7 421.6 394.8 403.1 396.3 399.2 411.5 389.5 400.4 390.4 445.8 433.2 419.3 459.9 483.0 486.7 Receipts from the rest of the world 501.4 573.8 497.0 579.9 641.1 648.8 666.2 693.4 675.1 683.3 747.1 656.9 638.1 651.7 648.6 652.6 662.8 672.7 676.8 684.3 688.8 708.4 692.0 674.9 689.8 689.5 646.2 659.3 687.0 677.1 709.9 709.0 721.1 759.4 798.8 819.6 Less: Payments to the rest of the world............................... 163.6 183.7 148.2 194.1 228.5 243.5 267.4 288.5 272.6 276.8 298.2 238.3 237.0 249.3 249.3 265.2 267.8 264.0 272.4 276.9 293.1 286.8 297.2 271.8 293.5 290.3 234.7 269.8 286.6 286.7 264.0 275.8 301.8 299.6 315.8 333.0 Corporate profits with inventory valuation adjustment.............. 1,708.3 1,344.5 1,470.1 1,786.4 1,750.2 2,144.7 2,165.9 2,266.1 2,187.0 2,128.7 2,136.4 2,168.7 2,154.3 2,135.2 2,120.5 2,145.3 2,155.6 2,162.7 2,199.9 2,128.3 2,283.3 2,337.0 2,315.9 2,275.0 2,239.1 2,184.9 2,049.1 2,101.2 2,114.4 2,132.3 2,166.8 2,148.0 2,187.3 2,199.9 2,010.3 2,036.9 Domestic industries.................... 1,370.5 954.3 1,121.3 1,400.6 1,337.7 1,739.3 1,767.1 1,861.2 1,784.5 1,722.2 1,687.5 1,750.0 1,753.2 1,732.8 1,721.2 1,757.9 1,760.7 1,754.1 1,795.5 1,720.9 1,887.6 1,915.4 1,921.1 1,871.8 1,842.8 1,785.7 1,637.6 1,711.7 1,714.1 1,741.9 1,721.0 1,714.8 1,768.0 1,740.0 1,527.3 1,550.2 Financial............................ 300.2 94.6 362.7 405.8 378.4 482.4 430.7 483.1 437.6 468.9 468.7 503.1 473.0 499.3 454.0 404.1 406.2 435.3 477.3 481.0 537.7 455.8 458.0 477.3 488.2 390.5 394.2 377.4 472.1 505.5 520.4 463.3 468.7 489.0 453.7 444.5 Federal Reserve banks.............. 36.0 35.1 47.3 71.6 76.0 71.7 79.7 103.5 100.7 92.0 78.3 77.0 74.2 67.2 68.6 66.9 73.3 83.4 95.0 98.1 105.1 106.4 104.3 97.7 101.1 104.7 99.4 96.4 92.9 90.6 87.9 89.3 80.1 71.8 71.9 69.9 Other financial.................... 264.2 59.5 315.3 334.3 302.4 410.6 351.1 379.6 336.8 376.9 390.4 426.1 398.9 432.2 385.5 337.1 332.9 351.9 382.3 382.9 432.6 349.4 353.7 379.5 387.1 285.8 294.9 281.1 379.2 414.9 432.5 373.9 388.6 417.2 381.8 374.6 Nonfinancial......................... 1,070.3 859.7 758.7 994.8 959.3 1,256.9 1,336.3 1,378.1 1,346.9 1,253.3 1,218.9 1,246.9 1,280.2 1,233.4 1,267.1 1,353.9 1,354.5 1,318.8 1,318.3 1,239.8 1,349.9 1,459.6 1,463.1 1,394.6 1,354.6 1,395.1 1,243.4 1,334.2 1,241.9 1,236.4 1,200.6 1,251.5 1,299.3 1,251.0 1,073.6 1,105.8 Utilities.......................... 49.6 30.4 23.4 30.6 10.2 13.8 28.3 32.7 20.1 7.2 3.8 10.4 12.8 19.0 12.8 17.1 32.5 33.1 30.7 36.6 28.3 28.9 37.1 36.0 26.9 18.6 -0.9 12.6 10.5 1.2 4.4 5.9 5.3 2.7 1.4 -1.1 Manufacturing...................... 321.1 240.0 164.7 281.8 296.0 403.0 446.9 457.4 422.5 322.9 292.9 407.0 415.7 383.2 406.3 439.4 436.0 434.5 477.6 398.8 469.7 471.7 489.5 486.3 455.1 451.1 297.5 395.5 311.1 298.2 286.6 279.2 306.9 320.8 264.5 238.5 Durable goods.................... 119.1 66.7 35.8 123.7 134.4 205.6 229.0 233.3 233.8 188.1 165.6 210.9 212.8 198.4 200.2 224.4 229.7 233.8 228.3 212.6 231.9 244.6 244.3 241.2 252.1 235.0 206.8 222.1 177.8 173.2 179.1 163.7 178.7 169.6 150.5 128.8 Fabricated metal products...... 21.4 15.7 11.8 15.4 16.5 24.0 25.3 24.1 24.8 23.4 22.5 23.0 25.1 24.3 23.8 29.6 26.8 23.9 21.0 24.0 24.8 25.8 22.0 27.0 25.1 23.6 23.5 28.4 20.2 22.9 22.2 21.2 25.3 23.4 20.1 19.7 Machinery...................... 23.4 18.0 9.6 17.3 25.8 33.5 36.5 35.4 24.0 18.3 18.0 33.7 34.0 35.9 30.7 33.5 38.8 36.0 37.7 32.8 37.2 35.3 36.3 31.7 27.3 19.7 17.5 19.1 20.1 16.9 17.3 18.7 20.6 19.3 13.4 13.3 Computer and electronic products...................... 24.3 27.7 27.1 48.4 37.8 52.9 58.7 59.7 67.9 49.5 40.1 52.5 57.5 52.7 48.9 51.6 56.6 61.3 65.4 54.3 60.1 61.7 62.8 68.8 70.9 67.9 63.9 61.5 49.3 44.4 42.9 33.1 36.0 46.4 44.8 33.1 Electrical equipment, appliances, and components.... -0.7 5.0 9.2 10.1 4.9 12.0 20.4 14.1 24.0 4.8 2.9 11.5 10.8 11.5 14.0 18.4 20.8 23.8 18.6 14.3 12.6 13.5 16.1 23.7 27.4 25.1 19.7 10.8 3.6 1.7 2.9 2.3 5.2 3.1 0.9 3.7 Motor vehicles, bodies and trailers, and parts........... -16.3 -39.2 -54.8 -10.9 -0.3 23.0 21.5 31.9 26.4 29.2 21.0 27.2 24.2 20.4 20.4 19.2 17.4 22.9 26.4 26.6 30.2 34.6 36.4 25.0 29.9 29.6 21.1 33.4 32.8 27.1 23.6 28.2 22.3 19.2 14.3 9.8 Other durable goods............ 67.1 39.5 33.0 43.4 49.7 60.1 66.6 68.0 66.7 62.8 61.1 63.0 61.3 53.6 62.4 72.1 69.3 65.8 59.2 60.6 67.0 73.8 70.7 65.0 71.4 69.1 61.1 68.9 51.8 60.3 70.3 60.2 69.3 58.1 57.0 49.1 Nondurable goods................. 201.9 173.3 128.9 158.1 161.6 197.5 217.8 224.1 188.7 134.8 127.2 196.1 202.9 184.8 206.1 214.9 206.3 200.7 249.3 186.2 237.8 227.2 245.2 245.0 203.0 216.1 90.7 173.4 133.4 124.9 107.5 115.5 128.2 151.2 114.0 109.8 Food and beverage and tobacco products...................... 31.3 31.5 45.0 45.1 40.0 44.7 55.6 58.3 68.9 65.6 58.4 50.5 43.6 43.0 41.7 49.8 52.4 59.0 61.0 43.8 60.3 62.5 66.5 77.7 63.8 66.4 67.8 69.1 70.1 62.2 61.2 54.8 56.7 67.0 55.2 49.0 Petroleum and coal products.... 76.1 85.0 10.4 26.2 47.5 57.7 53.9 65.4 16.5 -29.8 -11.9 47.8 62.2 55.3 65.4 61.3 41.0 38.6 74.6 65.3 58.9 64.7 72.6 57.3 37.6 46.4 -75.3 -11.7 -31.5 -33.7 -42.2 -18.2 -17.9 -4.5 -7.0 -0.7 Chemical products.............. 70.8 51.5 55.2 63.4 53.2 63.5 75.0 72.0 64.9 61.8 49.6 67.4 66.0 53.7 67.0 68.3 80.1 71.5 80.2 54.7 87.8 67.6 77.9 72.8 64.0 64.8 58.0 74.6 60.1 59.9 52.7 46.3 55.5 56.9 39.8 36.2 Other nondurable goods......... 23.7 5.3 18.2 23.5 20.9 31.5 33.3 28.5 38.4 37.1 31.1 30.4 31.1 32.7 31.9 35.5 32.8 31.6 33.4 22.4 30.8 32.4 28.2 37.2 37.6 38.4 40.2 41.5 34.7 36.5 35.8 32.7 33.9 31.8 25.9 25.3 Wholesale trade.................... 102.8 92.7 88.9 99.3 97.2 137.9 146.4 150.8 152.1 127.5 111.8 127.5 147.6 131.6 144.9 156.0 152.3 144.1 133.1 130.7 143.0 172.6 156.9 153.9 139.0 152.1 163.5 151.8 120.6 136.8 100.7 117.4 128.9 114.7 86.3 88.6 Retail trade....................... 119.4 82.2 107.9 115.9 115.1 155.7 153.3 158.6 169.2 173.5 162.5 158.0 154.1 148.0 162.5 157.1 160.8 154.3 141.1 143.6 155.6 162.0 173.3 179.2 166.9 166.1 164.6 169.6 164.9 179.5 179.9 171.4 170.7 168.7 139.2 155.4 Transportation and warehousing..... 23.3 29.3 21.7 44.6 30.6 54.4 45.2 55.6 62.2 62.9 59.4 53.4 56.9 56.6 50.9 54.0 43.3 38.5 45.1 47.7 59.7 63.5 51.7 60.9 56.3 65.6 66.1 69.0 65.8 61.9 55.1 61.0 66.4 59.6 50.6 47.9 Information........................ 120.5 98.8 87.0 102.3 95.7 112.0 137.6 126.3 140.4 171.6 148.6 113.4 114.2 112.7 107.6 138.6 140.4 139.5 132.0 124.7 129.8 129.5 121.3 126.9 137.3 141.0 156.3 160.3 186.6 163.3 176.4 164.1 148.6 157.8 124.0 148.9 Other nonfinancial................. 333.6 286.3 265.1 320.4 314.5 380.1 378.6 396.6 380.4 387.7 439.8 377.2 378.9 382.4 382.1 391.7 389.3 374.6 358.6 357.8 363.7 431.5 433.4 351.6 373.1 400.7 396.3 375.5 382.4 395.5 397.6 452.5 472.5 426.6 407.5 427.6 Rest of the world...................... 337.8 390.2 348.8 385.8 412.6 405.4 398.8 404.9 402.5 406.5 448.8 418.6 401.1 402.4 399.4 387.4 394.9 408.7 404.4 407.4 395.7 421.6 394.8 403.1 396.3 399.2 411.5 389.5 400.4 390.4 445.8 433.2 419.3 459.9 483.0 486.7 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Note. Estimates in this table are based on the 2012 North American Industry Classification System (NAICS). Source: U.S. Bureau of Economic Analysis Table 10B. Corporate Profits by Industry: Change From Preceding Period [Billions of dollars] ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 --------------------------------------------------------------------------------------------------------------Change from preceding period-------------------------------------------------------------------------------------------------------------- -----------------2012----------------- -----------------2013----------------- -----------------2014----------------- -----------------2015----------------- -----------------2016----------------- -----------------2017----------------- 2018 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Corporate profits with inventory valuation and capital consumption adjustments....................... -113.1 -247.3 100.9 341.9 81.0 187.6 13.3 108.1 -61.6 -22.3 64.3 67.1 -18.7 -21.5 -13.7 11.7 16.8 10.9 36.8 -65.0 153.0 52.6 -20.7 -34.1 -31.2 -45.9 -120.4 59.0 22.5 26.9 37.8 -26.5 33.6 11.6 49.5 26.7 Domestic industries.................... -211.1 -299.7 142.4 304.9 54.3 194.8 19.8 102.1 -59.2 -26.3 22.0 77.9 -1.1 -22.8 -10.6 23.7 9.2 -2.8 41.1 -68.0 164.7 26.7 6.1 -42.5 -24.4 -48.8 -132.7 81.0 11.6 36.8 -17.6 -13.9 47.5 -28.9 26.4 23.0 Financial............................ -113.2 -195.3 260.2 47.1 -21.7 82.7 -48.3 53.9 -48.4 41.3 7.2 44.6 -30.9 25.6 -46.1 -48.7 4.8 31.1 42.6 4.9 55.6 -83.1 0.5 18.2 9.6 -96.5 6.7 -12.6 97.8 35.1 15.2 -57.5 4.3 20.2 -8.4 -9.3 Nonfinancial......................... -98.0 -104.5 -117.8 257.8 75.9 112.2 68.1 48.2 -10.8 -67.6 14.8 33.3 29.8 -48.4 35.5 72.4 4.4 -33.9 -1.5 -73.0 109.1 109.8 5.6 -60.6 -34.0 47.7 -139.4 93.6 -86.2 1.8 -32.9 43.6 43.2 -49.2 34.8 32.3 Rest of the world...................... 98.1 52.4 -41.4 37.0 26.8 -7.2 -6.5 6.0 -2.3 4.0 42.3 -10.8 -17.6 1.3 -3.0 -12.0 7.5 13.7 -4.3 3.0 -11.7 25.9 -26.8 8.4 -6.9 2.9 12.3 -22.0 10.8 -10.0 55.4 -12.6 -13.9 40.6 23.1 3.7 Receipts from the rest of the world 79.9 72.5 -76.9 83.0 61.2 7.8 17.4 27.2 -18.3 8.2 63.7 13.8 -18.8 13.6 -3.1 4.0 10.2 9.9 4.1 7.5 4.5 19.6 -16.4 -17.1 14.9 -0.3 -43.4 13.1 27.7 -9.8 32.7 -0.9 12.2 38.3 39.3 20.9 Less: Payments to the rest of the world............................... -18.2 20.1 -35.5 45.9 34.4 15.0 23.9 21.2 -15.9 4.2 21.4 24.6 -1.2 12.3 0.0 15.9 2.7 -3.9 8.4 4.5 16.2 -6.3 10.4 -25.5 21.8 -3.2 -55.7 35.1 16.8 0.1 -22.7 11.7 26.0 -2.3 16.2 17.2 Corporate profits with inventory valuation adjustment.............. -103.9 -363.8 125.6 316.3 -36.2 394.4 21.2 100.2 -79.1 -58.3 7.7 266.9 -14.4 -19.1 -14.6 24.8 10.3 7.1 37.2 -71.6 155.0 53.7 -21.1 -40.9 -35.9 -54.2 -135.8 52.1 13.2 17.9 34.5 -18.9 39.4 12.5 -189.6 26.6 Domestic industries.................... -202.0 -416.3 167.1 279.3 -63.0 401.6 27.8 94.2 -76.8 -62.3 -34.6 277.7 3.2 -20.4 -11.6 36.8 2.7 -6.6 41.5 -74.7 166.7 27.8 5.7 -49.3 -29.0 -57.1 -148.1 74.1 2.4 27.9 -20.9 -6.2 53.2 -28.0 -212.7 23.0 Financial............................ -112.9 -205.6 268.1 43.1 -27.4 104.0 -51.7 52.4 -45.6 31.3 -0.2 62.8 -30.1 26.3 -45.3 -50.0 2.2 29.1 42.0 3.7 56.7 -81.9 2.2 19.3 10.9 -97.7 3.7 -16.8 94.7 33.3 14.9 -57.1 5.5 20.3 -35.3 -9.2 Federal Reserve banks.............. 2.2 -0.9 12.3 24.2 4.4 -4.2 7.9 23.8 -2.7 -8.8 -13.7 2.3 -2.8 -7.0 1.4 -1.6 6.4 10.1 11.6 3.1 7.0 1.3 -2.1 -6.6 3.4 3.6 -5.3 -3.0 -3.5 -2.3 -2.7 1.4 -9.2 -8.3 0.1 -2.0 Other financial.................... -115.1 -204.7 255.8 18.9 -31.8 108.2 -59.6 28.6 -42.8 40.1 13.5 60.6 -27.2 33.3 -46.7 -48.4 -4.2 19.0 30.3 0.6 49.7 -83.2 4.3 25.8 7.5 -101.2 9.0 -13.8 98.2 35.6 17.6 -58.5 14.7 28.6 -35.4 -7.2 Nonfinancial......................... -89.0 -210.6 -101.0 236.1 -35.5 297.6 79.4 41.8 -31.2 -93.6 -34.4 214.9 33.3 -46.7 33.7 86.8 0.6 -35.7 -0.5 -78.4 110.1 109.7 3.5 -68.5 -40.0 40.5 -151.8 90.9 -92.3 -5.5 -35.8 50.9 47.8 -48.3 -177.4 32.2 Utilities.......................... -5.5 -19.2 -7.0 7.2 -20.4 3.6 14.6 4.4 -12.6 -12.9 -3.4 1.4 2.4 6.1 -6.1 4.3 15.4 0.6 -2.4 5.9 -8.3 0.6 8.2 -1.1 -9.1 -8.3 -19.5 13.6 -2.1 -9.3 3.2 1.6 -0.7 -2.6 -1.3 -2.5 Manufacturing...................... -31.8 -81.0 -75.3 117.1 14.2 107.0 43.8 10.6 -34.9 -99.6 -30.0 74.6 8.8 -32.6 23.1 33.1 -3.4 -1.5 43.1 -78.8 70.9 2.0 17.7 -3.2 -31.2 -4.0 -153.6 98.0 -84.3 -12.9 -11.6 -7.4 27.6 13.9 -56.3 -26.0 Durable goods.................... -21.9 -52.4 -30.9 87.9 10.7 71.2 23.5 4.3 0.4 -45.7 -22.4 38.3 2.0 -14.5 1.8 24.3 5.2 4.1 -5.5 -15.7 19.4 12.7 -0.3 -3.0 10.8 -17.1 -28.2 15.3 -44.3 -4.5 5.9 -15.4 15.0 -9.1 -19.1 -21.8 Fabricated metal products...... 2.1 -5.6 -3.9 3.5 1.1 7.6 1.3 -1.2 0.7 -1.4 -0.9 3.2 2.1 -0.8 -0.5 5.8 -2.8 -2.9 -2.9 2.9 0.9 1.0 -3.8 5.1 -1.9 -1.5 -0.1 4.9 -8.2 2.7 -0.7 -0.9 4.0 -1.8 -3.3 -0.4 Machinery...................... 2.6 -5.4 -8.4 7.7 8.5 7.7 2.9 -1.1 -11.4 -5.7 -0.3 3.2 0.3 1.9 -5.2 2.8 5.3 -2.9 1.7 -4.8 4.4 -2.0 1.0 -4.6 -4.5 -7.6 -2.2 1.7 0.9 -3.2 0.5 1.4 1.9 -1.4 -5.8 -0.1 Computer and electronic products...................... -4.2 3.4 -0.6 21.3 -10.6 15.0 5.9 1.0 8.1 -18.4 -9.4 6.4 5.0 -4.8 -3.8 2.7 5.0 4.7 4.1 -11.1 5.9 1.6 1.1 6.0 2.1 -3.0 -4.0 -2.4 -12.1 -5.0 -1.5 -9.7 2.9 10.4 -1.6 -11.7 Electrical equipment, appliances, and components.... -12.4 5.8 4.1 0.9 -5.2 7.1 8.4 -6.3 9.8 -19.2 -1.9 6.0 -0.8 0.8 2.4 4.4 2.4 3.0 -5.2 -4.3 -1.7 0.9 2.6 7.6 3.6 -2.3 -5.3 -8.9 -7.2 -1.9 1.2 -0.7 3.0 -2.1 -2.2 2.7 Motor vehicles, bodies and trailers, and parts........... -9.4 -22.9 -15.6 43.9 10.6 23.4 -1.6 10.4 -5.5 2.8 -8.2 16.0 -3.0 -3.8 0.0 -1.2 -1.9 5.6 3.4 0.2 3.6 4.4 1.8 -11.4 4.9 -0.3 -8.5 12.3 -0.7 -5.7 -3.5 4.6 -5.9 -3.1 -4.9 -4.4 Other durable goods............ -0.5 -27.6 -6.5 10.4 6.3 10.4 6.5 1.4 -1.3 -3.8 -1.7 3.5 -1.7 -7.7 8.8 9.7 -2.9 -3.4 -6.7 1.4 6.4 6.8 -3.1 -5.7 6.5 -2.3 -8.0 7.7 -17.0 8.4 10.0 -10.1 9.1 -11.2 -1.1 -7.9 Nondurable goods................. -9.8 -28.6 -44.4 29.2 3.5 35.9 20.3 6.3 -35.4 -53.9 -7.6 36.3 6.8 -18.1 21.3 8.8 -8.7 -5.6 48.6 -63.1 51.6 -10.6 18.0 -0.2 -42.0 13.1 -125.4 82.7 -40.0 -8.4 -17.5 8.1 12.6 23.0 -37.2 -4.2 Food and beverage and tobacco products...................... -3.4 0.2 13.5 0.0 -5.0 4.7 10.8 2.7 10.6 -3.3 -7.2 7.9 -6.9 -0.6 -1.3 8.1 2.7 6.6 2.0 -17.2 16.4 2.3 4.0 11.2 -13.9 2.6 1.4 1.3 1.0 -7.9 -1.0 -6.4 1.9 10.3 -11.7 -6.2 Petroleum and coal products.... -5.9 8.9 -74.6 15.8 21.3 10.2 -3.8 11.5 -48.9 -46.3 17.8 18.6 14.4 -6.9 10.2 -4.1 -20.3 -2.4 36.0 -9.3 -6.4 5.7 8.0 -15.3 -19.8 8.9 -121.7 63.6 -19.7 -2.2 -8.5 23.9 0.3 13.4 -2.5 6.2 Chemical products.............. 2.0 -19.3 3.7 8.2 -10.2 10.3 11.5 -3.1 -7.0 -3.1 -12.2 4.4 -1.4 -12.2 13.3 1.3 11.7 -8.6 8.8 -25.5 33.0 -20.2 10.3 -5.0 -8.8 0.8 -6.8 16.5 -14.5 -0.1 -7.2 -6.4 9.3 1.4 -17.1 -3.6 Other nondurable goods......... -2.6 -18.4 13.0 5.2 -2.5 10.6 1.8 -4.9 9.9 -1.2 -6.0 5.5 0.7 1.7 -0.8 3.6 -2.7 -1.2 1.8 -11.1 8.5 1.6 -4.2 8.9 0.5 0.8 1.8 1.3 -6.8 1.8 -0.8 -3.1 1.2 -2.1 -5.9 -0.6 Wholesale trade.................... -2.2 -10.1 -3.7 10.4 -2.2 40.7 8.5 4.4 1.3 -24.6 -15.7 17.7 20.1 -15.9 13.3 11.1 -3.7 -8.2 -11.0 -2.3 12.3 29.5 -15.7 -3.0 -14.8 13.0 11.4 -11.7 -31.2 16.2 -36.1 16.6 11.5 -14.2 -28.4 2.3 Retail trade....................... -14.2 -37.2 25.7 8.0 -0.7 40.5 -2.3 5.3 10.6 4.3 -11.0 27.3 -3.9 -6.1 14.5 -5.4 3.7 -6.5 -13.2 2.4 12.1 6.4 11.4 5.9 -12.3 -0.8 -1.5 4.9 -4.7 14.6 0.5 -8.5 -0.7 -2.0 -29.5 16.2 Transportation and warehousing..... -17.5 5.9 -7.6 22.9 -14.0 23.9 -9.2 10.4 6.6 0.7 -3.5 12.9 3.5 -0.3 -5.7 3.2 -10.7 -4.8 6.6 2.6 12.1 3.8 -11.8 9.2 -4.5 9.3 0.5 2.9 -3.2 -3.9 -6.8 5.9 5.4 -6.8 -9.0 -2.7 Information........................ 5.4 -21.7 -11.8 15.2 -6.6 16.3 25.6 -11.3 14.0 31.3 -23.0 20.6 0.7 -1.4 -5.1 31.0 1.8 -0.8 -7.5 -7.4 5.2 -0.4 -8.2 5.6 10.4 3.7 15.4 4.0 26.3 -23.3 13.1 -12.3 -15.5 9.2 -33.8 24.9 Other nonfinancial................. -23.1 -47.3 -21.2 55.3 -5.9 65.6 -1.6 18.0 -16.2 7.3 52.1 60.4 1.7 3.4 -0.3 9.6 -2.4 -14.6 -16.0 -0.8 5.9 67.8 1.9 -81.8 21.5 27.6 -4.5 -20.8 6.9 13.2 2.0 54.9 20.0 -45.9 -19.1 20.0 Rest of the world...................... 98.1 52.4 -41.4 37.0 26.8 -7.2 -6.5 6.0 -2.3 4.0 42.3 -10.8 -17.6 1.3 -3.0 -12.0 7.5 13.7 -4.3 3.0 -11.7 25.9 -26.8 8.4 -6.9 2.9 12.3 -22.0 10.8 -10.0 55.4 -12.6 -13.9 40.6 23.1 3.7 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Note. Estimates in this table are based on the 2012 North American Industry Classification System (NAICS). Source: U.S. Bureau of Economic Analysis Table 10C. Revisions to Corporate Profits by Industry [Billions of dollars] ------------------------------------------------------------------------------------------------------------------------------------- -------------------Billions of dollars------------------- Revisions as a percentage of -----Revised estimates----- Revisions to previously published --- previously published--- 2015 2016 2017 2015 2016 2017 2015 2016 2017 ------------------------------------------------------------------------------------------------------------------------------------- Corporate profits with inventory valuation and capital consumption adjustments....................... 2,057.3 2,035.0 2,099.3 -60.2 -38.5 -65.4 -2.8 -1.9 -3.0 Domestic industries.................... 1,654.7 1,628.5 1,650.4 -77.8 -50.3 -81.4 -4.5 -3.0 -4.7 Financial............................ 397.1 438.4 445.6 -59.5 -16.2 -24.7 -13.0 -3.6 -5.3 Nonfinancial......................... 1,257.6 1,190.0 1,204.8 -18.2 -34.1 -56.7 -1.4 -2.8 -4.5 Rest of the world...................... 402.5 406.5 448.8 17.6 11.8 16.1 4.6 3.0 3.7 Receipts from the rest of the world 675.1 683.3 747.1 22.0 11.9 21.1 3.4 1.8 2.9 Less: Payments to the rest of the world............................... 272.6 276.8 298.2 4.5 0.1 5.1 1.7 0.0 1.7 Corporate profits with inventory valuation adjustment.............. 2,187.0 2,128.7 2,136.4 -23.9 -32.9 -62.2 -1.1 -1.5 -2.8 Domestic industries.................... 1,784.5 1,722.2 1,687.5 -41.5 -44.7 -78.3 -2.3 -2.5 -4.4 Financial............................ 437.6 468.9 468.7 -60.3 -32.9 -43.3 -12.1 -6.6 -8.5 Federal Reserve banks.............. 100.7 92.0 78.3 0.0 0.0 -0.9 0.0 0.0 -1.2 Other financial.................... 336.8 376.9 390.4 -60.3 -33.0 -42.3 -15.2 -8.0 -9.8 Nonfinancial......................... 1,346.9 1,253.3 1,218.9 18.8 -11.8 -35.0 1.4 -0.9 -2.8 Utilities.......................... 20.1 7.2 3.8 -1.7 -12.1 -23.1 -7.7 -62.8 -85.8 Manufacturing...................... 422.5 322.9 292.9 5.4 -69.8 -89.4 1.3 -17.8 -23.4 Durable goods.................... 233.8 188.1 165.6 15.4 -24.1 -47.0 7.0 -11.4 -22.1 Nondurable goods................. 188.7 134.8 127.2 -10.0 -45.6 -42.3 -5.0 -25.3 -25.0 Wholesale trade.................... 152.1 127.5 111.8 4.5 2.1 18.4 3.1 1.7 19.7 Retail trade....................... 169.2 173.5 162.5 -2.6 -5.6 -15.0 -1.5 -3.1 -8.5 Transportation and warehousing..... 62.2 62.9 59.4 1.0 6.8 -0.3 1.6 12.2 -0.6 Information........................ 140.4 171.6 148.6 3.2 34.0 17.7 2.3 24.7 13.5 Other nonfinancial................. 380.4 387.7 439.8 9.1 32.7 56.7 2.5 9.2 14.8 Rest of the world...................... 402.5 406.5 448.8 17.6 11.8 16.1 4.6 3.0 3.7 Corporate profits before tax without inventory valuation and capital consumption adjustments............... 2,134.2 2,129.7 2,181.9 -24.4 -29.2 -65.8 -1.1 -1.4 -2.9 Addenda: Corporate profits after tax with inventory valuation and capital consumption adjustments............. 1,660.1 1,642.1 1,748.6 50.0 39.7 50.7 3.1 2.5 3.0 Net cash flow with inventory valuation adjustment................ 2,091.8 2,080.5 1,941.4 -6.6 -98.8 -100.8 -0.3 -4.5 -4.9 Undistributed profits with inventory valuation and capital consumption adjustments........... 495.2 454.7 533.3 -74.9 -165.9 -174.5 -13.1 -26.7 -24.7 Consumption of fixed capital....... 1,593.4 1,630.3 1,699.6 68.3 67.1 73.7 4.5 4.3 4.5 Less: Capital transfers paid (net)............................. -3.2 4.4 291.5 0.0 0.0 0.0 --- --- --- ------------------------------------------------------------------------------------------------------------------------------------- Note. Estimates in this table are based on the 2012 North American Industry Classification System (NAICS). Source: U.S. Bureau of Economic Analysis Table 11. Gross Value Added of Nonfinancial Domestic Corporate Business ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 ----------------------------------------------------------------------------------------------------------Seasonally adjusted at annual rates---------------------------------------------------------------------------------------------------------- -----------------2012----------------- -----------------2013----------------- -----------------2014----------------- -----------------2015----------------- -----------------2016----------------- -----------------2017----------------- 2018 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Billions of dollars Gross value added of nonfinancial corporate business...................... 7,219.7 7,286.7 6,864.6 7,243.2 7,615.3 8,059.1 8,374.1 8,780.3 9,136.3 9,245.4 9,644.4 7,962.2 8,059.2 8,026.6 8,188.5 8,320.9 8,370.5 8,362.6 8,442.3 8,546.5 8,704.5 8,886.9 8,983.5 9,060.7 9,096.7 9,199.7 9,188.2 9,237.7 9,189.3 9,247.7 9,307.1 9,517.1 9,628.9 9,660.8 9,770.7 9,926.7 Consumption of fixed capital................. 1,044.0 1,105.0 1,110.7 1,119.8 1,169.3 1,230.6 1,279.7 1,350.0 1,406.1 1,432.6 1,491.0 1,208.9 1,225.1 1,239.1 1,249.2 1,258.4 1,271.6 1,285.8 1,303.1 1,321.4 1,340.7 1,360.1 1,377.8 1,390.3 1,402.5 1,413.2 1,418.4 1,421.0 1,429.6 1,435.6 1,444.2 1,468.0 1,484.5 1,498.8 1,512.6 1,529.4 Net value added.............................. 6,175.7 6,181.7 5,753.8 6,123.4 6,446.0 6,828.5 7,094.4 7,430.3 7,730.2 7,812.8 8,153.4 6,753.2 6,834.1 6,787.5 6,939.3 7,062.5 7,099.0 7,076.8 7,139.3 7,225.1 7,363.8 7,526.7 7,605.7 7,670.4 7,694.2 7,786.4 7,769.8 7,816.7 7,759.7 7,812.1 7,862.9 8,049.1 8,144.5 8,162.1 8,258.1 8,397.3 Compensation of employees.................. 4,307.1 4,364.3 4,094.9 4,166.6 4,372.7 4,608.3 4,768.1 5,022.5 5,290.6 5,426.4 5,695.3 4,542.4 4,590.5 4,596.3 4,704.2 4,727.4 4,762.3 4,769.3 4,813.4 4,971.9 4,987.3 5,031.8 5,099.0 5,227.4 5,276.0 5,315.1 5,343.8 5,376.6 5,397.4 5,438.0 5,493.5 5,627.2 5,664.0 5,723.5 5,766.5 5,861.3 Wages and salaries....................... 3,573.4 3,624.7 3,382.8 3,452.3 3,630.6 3,839.2 3,968.6 4,195.9 4,427.2 4,554.9 4,779.5 3,785.0 3,824.6 3,829.4 3,918.1 3,935.1 3,963.8 3,969.6 4,005.8 4,154.2 4,166.9 4,203.6 4,259.0 4,375.0 4,415.2 4,447.4 4,471.1 4,513.7 4,530.9 4,564.6 4,610.5 4,723.0 4,753.5 4,802.8 4,838.5 4,920.7 Supplements to wages and salaries........ 733.7 739.6 712.1 714.3 742.1 769.1 799.5 826.5 863.4 871.4 915.8 757.4 765.9 767.0 786.1 792.3 798.5 799.7 807.6 817.7 820.4 828.2 839.9 852.4 860.9 867.7 872.6 862.9 866.4 873.4 882.9 904.2 910.5 920.6 927.9 940.5 Taxes on production and imports less subsidies................................. 631.3 637.4 608.5 638.2 670.8 695.1 742.0 768.6 780.1 794.3 828.5 691.5 693.7 692.6 702.6 733.0 737.0 746.1 751.9 756.0 767.2 773.3 777.8 772.5 778.9 780.9 788.1 785.3 788.6 798.4 804.8 816.0 824.0 832.5 841.4 851.8 Net operating surplus...................... 1,237.4 1,180.0 1,050.4 1,318.6 1,402.4 1,525.1 1,584.3 1,639.3 1,659.6 1,592.2 1,629.7 1,519.4 1,549.9 1,498.6 1,532.6 1,602.1 1,599.7 1,561.4 1,573.9 1,497.2 1,609.4 1,721.7 1,728.9 1,670.5 1,639.3 1,690.5 1,637.9 1,654.8 1,573.7 1,575.7 1,564.6 1,605.8 1,656.5 1,606.1 1,650.2 1,684.2 Net interest and miscellaneous payments 250.3 310.2 284.2 283.3 283.2 291.2 280.1 291.1 305.0 332.5 335.2 290.5 292.8 292.2 289.4 282.6 279.0 277.9 281.1 285.8 290.0 293.3 295.4 297.3 301.2 307.0 314.5 324.6 331.8 335.7 337.8 336.4 335.4 334.5 334.7 341.7 Business current transfer payments (net)................................... 58.6 45.8 60.0 71.3 79.3 81.8 83.9 79.8 96.9 69.7 89.6 83.7 82.2 79.9 81.3 85.2 82.1 78.8 89.6 81.1 80.0 79.2 78.8 79.1 78.0 75.7 155.0 68.2 66.1 62.4 82.1 81.2 89.5 89.2 98.4 93.0 Corporate profits with inventory valuation and capital consumption adjustments............................. 928.5 824.0 706.2 964.0 1,039.9 1,152.1 1,220.2 1,268.4 1,257.6 1,190.0 1,204.8 1,145.1 1,174.9 1,126.5 1,161.9 1,234.3 1,238.7 1,204.8 1,203.2 1,130.3 1,239.4 1,349.2 1,354.8 1,294.1 1,260.1 1,307.8 1,168.4 1,262.0 1,175.8 1,177.6 1,144.7 1,188.3 1,231.5 1,182.4 1,217.2 1,249.5 Taxes on corporate income.............. 277.7 208.0 162.3 204.0 209.3 245.7 263.6 291.0 284.0 271.3 247.0 234.9 245.4 250.8 251.5 264.5 262.4 261.7 265.9 278.0 294.2 295.5 296.4 301.5 297.6 285.2 251.5 272.5 271.2 274.9 266.5 254.4 254.4 255.4 223.8 149.7 Profits after tax with inventory valuation and capital consumption adjustments........................... 650.8 616.0 543.9 760.0 830.6 906.4 956.6 977.4 973.6 918.8 957.9 910.2 929.5 875.6 910.4 969.7 976.3 943.1 937.3 852.3 945.2 1,053.6 1,058.4 992.6 962.5 1,022.6 916.9 989.5 904.6 902.7 878.2 933.9 977.1 927.0 993.4 1,099.8 Net dividends........................ 484.6 474.2 351.4 375.5 441.0 517.9 531.9 597.5 641.1 698.7 703.6 464.8 467.0 485.7 654.2 518.0 503.0 609.5 497.1 601.0 600.1 572.7 616.3 631.5 624.2 656.8 652.0 687.9 696.8 698.7 711.5 714.6 755.7 627.8 716.4 -326.1 Undistributed profits with inventory valuation and capital consumption adjustments......................... 166.2 141.8 192.5 384.5 389.6 388.5 424.7 379.8 332.5 220.0 254.2 445.5 462.4 389.9 256.1 451.8 473.2 333.6 440.3 251.3 345.1 480.9 442.1 361.1 338.3 365.8 264.9 301.6 207.8 204.0 166.7 219.3 221.4 299.2 277.0 1,425.9 Addenda: Profits before tax (without inventory valuation and capital consumption adjustments).............................. 1,114.0 894.5 756.1 1,042.4 1,027.3 1,268.4 1,322.0 1,374.6 1,294.1 1,254.3 1,264.4 1,278.2 1,261.9 1,258.3 1,275.1 1,335.6 1,313.6 1,313.5 1,325.1 1,284.2 1,356.7 1,438.7 1,418.6 1,313.6 1,338.3 1,339.9 1,184.6 1,270.8 1,274.3 1,241.7 1,230.5 1,315.4 1,312.4 1,281.8 1,147.9 1,179.9 Profits after tax (without inventory valuation and capital consumption adjustments).............................. 836.3 686.5 593.7 838.4 818.0 1,022.7 1,058.3 1,083.5 1,010.1 983.0 1,017.4 1,043.3 1,016.5 1,007.5 1,023.5 1,071.1 1,051.2 1,051.8 1,059.2 1,006.2 1,062.5 1,143.2 1,122.2 1,012.1 1,040.7 1,054.7 933.1 998.3 1,003.1 966.8 964.0 1,061.0 1,057.9 1,026.4 924.2 1,030.2 Inventory valuation adjustment............. -43.6 -34.8 2.6 -47.6 -68.0 -11.4 14.4 3.6 52.8 -1.0 -45.5 -31.3 18.3 -24.9 -7.9 18.2 40.9 5.2 -6.8 -44.4 -6.8 20.9 44.5 81.0 16.3 55.2 58.8 63.4 -32.4 -5.2 -29.9 -63.8 -13.0 -30.8 -74.4 -74.1 Capital consumption adjustment............. -141.9 -35.7 -52.5 -30.8 80.7 -104.8 -116.1 -109.7 -89.3 -63.3 -14.0 -101.8 -105.3 -107.0 -105.2 -119.6 -115.8 -114.0 -115.0 -109.6 -110.5 -110.4 -108.3 -100.4 -94.5 -87.3 -75.0 -72.2 -66.1 -58.8 -55.9 -63.2 -67.8 -68.6 143.6 143.8 Billions of chained (2012) dollars Gross value added of nonfinancial corporate business\1\................... 7,896.1 7,809.2 7,255.1 7,568.0 7,774.1 8,059.1 8,261.5 8,517.3 8,810.0 8,942.5 9,246.1 8,034.8 8,068.3 7,989.1 8,144.4 8,212.2 8,282.8 8,259.3 8,291.7 8,332.7 8,448.1 8,577.6 8,710.7 8,772.2 8,772.0 8,832.2 8,863.4 8,945.6 8,863.3 9,000.0 8,961.2 9,071.4 9,233.7 9,291.9 9,387.3 9,508.7 Consumption of fixed capital\2\.............. 1,092.6 1,131.0 1,149.3 1,161.0 1,189.9 1,230.6 1,275.7 1,323.8 1,371.6 1,413.3 1,455.9 1,215.2 1,226.1 1,236.0 1,245.0 1,257.8 1,270.3 1,281.7 1,293.0 1,304.3 1,317.0 1,330.4 1,343.4 1,355.1 1,366.2 1,377.2 1,387.9 1,398.1 1,408.1 1,418.4 1,428.6 1,439.0 1,449.7 1,461.4 1,473.6 1,489.1 Net value added\3\........................... 6,803.5 6,678.1 6,105.8 6,407.0 6,584.2 6,828.5 6,985.8 7,193.4 7,438.4 7,529.2 7,790.1 6,819.6 6,842.2 6,753.1 6,899.3 6,954.5 7,012.5 6,977.7 6,998.7 7,028.4 7,131.0 7,247.2 7,367.2 7,417.1 7,405.8 7,455.1 7,475.4 7,547.5 7,455.1 7,581.7 7,532.5 7,632.4 7,784.0 7,830.4 7,913.7 8,019.6 Dollars; quarters seasonally adjusted Price, costs, and profits per unit of real gross value added of nonfinancial corporate business: Price per unit of real gross value added of nonfinancial corporate business\4\..... 0.914 0.933 0.946 0.957 0.980 1.000 1.014 1.031 1.037 1.034 1.043 0.991 0.999 1.005 1.005 1.013 1.011 1.013 1.018 1.026 1.030 1.036 1.031 1.033 1.037 1.042 1.037 1.033 1.037 1.028 1.039 1.049 1.043 1.040 1.041 1.044 Compensation of employees (unit labor cost)..................................... 0.545 0.559 0.564 0.551 0.562 0.572 0.577 0.590 0.601 0.607 0.616 0.565 0.569 0.575 0.578 0.576 0.575 0.577 0.581 0.597 0.590 0.587 0.585 0.596 0.601 0.602 0.603 0.601 0.609 0.604 0.613 0.620 0.613 0.616 0.614 0.616 Unit nonlabor cost......................... 0.251 0.269 0.284 0.279 0.283 0.285 0.289 0.292 0.294 0.294 0.297 0.283 0.284 0.288 0.285 0.287 0.286 0.289 0.293 0.293 0.293 0.292 0.290 0.289 0.292 0.292 0.302 0.291 0.295 0.292 0.298 0.298 0.296 0.296 0.297 0.296 Consumption of fixed capital............. 0.132 0.141 0.153 0.148 0.150 0.153 0.155 0.159 0.160 0.160 0.161 0.150 0.152 0.155 0.153 0.153 0.154 0.156 0.157 0.159 0.159 0.159 0.158 0.158 0.160 0.160 0.160 0.159 0.161 0.160 0.161 0.162 0.161 0.161 0.161 0.161 Taxes on production and imports less subsidies plus business current transfer payments (net)................. 0.087 0.087 0.092 0.094 0.096 0.096 0.100 0.100 0.100 0.097 0.099 0.096 0.096 0.097 0.096 0.100 0.099 0.100 0.101 0.100 0.100 0.099 0.098 0.097 0.098 0.097 0.106 0.095 0.096 0.096 0.099 0.099 0.099 0.099 0.100 0.099 Net interest and miscellaneous payments 0.032 0.040 0.039 0.037 0.036 0.036 0.034 0.034 0.035 0.037 0.036 0.036 0.036 0.037 0.036 0.034 0.034 0.034 0.034 0.034 0.034 0.034 0.034 0.034 0.034 0.035 0.035 0.036 0.037 0.037 0.038 0.037 0.036 0.036 0.036 0.036 Corporate profits with inventory valuation and capital consumption adjustments (unit profits from current production).......... 0.118 0.106 0.097 0.127 0.134 0.143 0.148 0.149 0.143 0.133 0.130 0.143 0.146 0.141 0.143 0.150 0.150 0.146 0.145 0.136 0.147 0.157 0.156 0.148 0.144 0.148 0.132 0.141 0.133 0.131 0.128 0.131 0.133 0.127 0.130 0.131 Taxes on corporate income................ 0.035 0.027 0.022 0.027 0.027 0.030 0.032 0.034 0.032 0.030 0.027 0.029 0.030 0.031 0.031 0.032 0.032 0.032 0.032 0.033 0.035 0.034 0.034 0.034 0.034 0.032 0.028 0.030 0.031 0.031 0.030 0.028 0.028 0.027 0.024 0.016 Profits after tax with inventory valuation and capital consumption adjustments............................. 0.082 0.079 0.075 0.100 0.107 0.112 0.116 0.115 0.111 0.103 0.104 0.113 0.115 0.110 0.112 0.118 0.118 0.114 0.113 0.102 0.112 0.123 0.122 0.113 0.110 0.116 0.103 0.111 0.102 0.100 0.098 0.103 0.106 0.100 0.106 0.116 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1. The current-dollar gross value added is deflated using the gross value added chain-type price index for nonfinancial industries from the GDP-by-industry accounts. For periods when this price index is not available, the chain-type price index for GDP goods and structures is used. Effective with this release, the estimates of real gross value added of nonfinancial corporate business were revised historically, reflecting the incorporation of updated price deflators from BEA's industry economic accounts. 2. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product of the chain-type quantity index and the 2012 current-dollar value of the corresponding series, divided by 100. 3. Chained-dollar net value added of nonfinancial corporate business is the difference between the gross value added and the consumption of fixed capital. Effective with this release, the estimates of real gross value added of nonfinancial corporate business were revised historically, reflecting the incorporation of updated price deflators from BEA's industry economic accounts. 4. The deflator for gross value added of nonfinancial corporate business divided by 100. Note. Estimates in this table are based on the 2012 North American Industry Classification System (NAICS). Source: U.S. Bureau of Economic Analysis Appendix Table A. Real Gross Domestic Product and Related Aggregates: Percent Change From Preceding Period and Contributions to Percent Change -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2015 2016 2017 ---------------------------------------------Seasonally adjusted at annual rates--------------------------------------------- -----2014----- -------------2015------------- -------------2016------------- -------------2017------------- -----2018----- Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Percent change from preceding period Gross domestic product (GDP) and related aggregates: GDP................................... 2.9 1.6 2.2 4.9 1.9 3.3 3.3 1.0 0.4 1.5 2.3 1.9 1.8 1.8 3.0 2.8 2.3 2.2 4.1 Goods................................. 2.9 1.2 3.8 7.6 -1.8 4.0 3.9 0.1 -0.7 0.5 3.1 1.6 2.3 1.2 8.6 8.4 1.1 4.1 6.2 Services.............................. 2.8 1.8 1.5 3.8 2.8 3.6 2.3 1.6 2.2 1.1 2.4 2.0 1.3 1.3 1.2 1.2 2.1 1.2 3.0 Structures............................ 3.6 1.0 2.2 3.8 9.3 -1.5 9.4 -0.6 -8.6 8.6 -1.7 2.4 3.4 7.8 -2.5 -3.7 7.9 3.4 4.7 Motor vehicle output.................. 6.3 1.8 -1.3 16.9 -4.4 1.5 17.6 20.9 -22.8 10.4 2.8 4.0 -2.9 -7.3 -2.2 -3.8 23.2 9.5 -7.6 GDP excluding motor vehicle output.... 2.8 1.6 2.3 4.6 2.1 3.4 2.9 0.4 1.2 1.3 2.3 1.9 1.9 2.1 3.1 3.0 1.8 2.0 4.4 Nonfarm business gross value added\1\............................. 3.5 1.6 2.7 6.4 2.2 4.1 4.1 0.6 0.1 1.6 2.5 2.2 2.3 1.9 3.8 3.6 3.0 2.6 4.8 Contributions to percent change in real gross domestic product Percent change at annual rate: Gross domestic product.............. 2.9 1.6 2.2 4.9 1.9 3.3 3.3 1.0 0.4 1.5 2.3 1.9 1.8 1.8 3.0 2.8 2.3 2.2 4.1 Percentage points at annual rates: Goods................................... 0.88 0.35 1.11 2.32 -0.54 1.23 1.19 0.05 -0.19 0.17 0.92 0.47 0.69 0.37 2.43 2.40 0.34 1.20 1.81 Services................................ 1.71 1.13 0.92 2.30 1.71 2.23 1.41 0.98 1.33 0.71 1.51 1.27 0.80 0.79 0.77 0.74 1.32 0.73 1.85 Structures.............................. 0.29 0.08 0.19 0.31 0.72 -0.13 0.73 -0.06 -0.74 0.67 -0.14 0.19 0.28 0.63 -0.21 -0.32 0.64 0.28 0.39 Motor vehicle output.................... 0.18 0.05 -0.04 0.45 -0.13 0.04 0.48 0.58 -0.78 0.29 0.08 0.12 -0.08 -0.22 -0.06 -0.10 0.58 0.26 -0.22 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1. Consists of GDP less gross value added of farm, of households and institutions, and of general government. Source: U.S. Bureau of Economic Analysis Appendix Table B. Not Seasonally Adjusted Real Gross Domestic Product: Level and Percent Change From Quarter One Year Ago -------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ----Billions of chained (2012) dollars at quarterly rates---- -----------Percent change from quarter one year ago----------- -----2016----- -------------2017------------- -----2018----- -----2016----- -------------2017------------- -----2018----- Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross Domestic Product (GDP).......... 4,448.4 4,526.6 4,338.6 4,500.6 4,562.1 4,649.4 4,488.9 4,649.2 1.4 2.0 1.3 2.2 2.6 2.7 3.3 3.3 Personal consumption expenditures..... 3,059.6 3,185.3 3,014.3 3,135.8 3,136.2 3,272.4 3,097.6 3,218.5 2.6 2.7 2.1 2.7 2.5 2.7 2.8 2.6 Gross private domestic investment..... 799.0 756.3 733.4 796.2 859.2 807.8 796.0 842.4 -2.2 1.0 0.3 4.3 7.5 6.8 8.5 5.8 Net exports of goods and services..... -207.3 -207.7 -182.5 -226.3 -223.5 -226.4 -197.5 -230.0 .... .... .... .... .... .... .... .... Exports............................. 601.8 604.9 594.2 607.9 616.0 632.0 619.0 638.6 0.5 0.8 2.5 2.7 2.4 4.5 4.2 5.1 Imports............................. 809.1 812.6 776.7 834.2 839.5 858.3 816.5 868.6 1.3 2.4 3.9 4.9 3.8 5.6 5.1 4.1 Government consumption expenditures and gross investment................. 792.0 788.1 770.8 787.1 783.9 788.6 788.7 810.1 0.9 1.3 0.4 0.3 -1.0 0.1 1.5 2.7 Addenda: Current dollar measures: (Billions of dollars) GDP................................. 4,728.1 4,814.8 4,652.8 4,856.4 4,933.7 5,042.5 4,901.5 5,116.7 2.6 3.3 3.5 4.0 4.3 4.7 5.3 5.5 GDI................................. 4,735.9 4,837.4 4,888.9 4,838.9 4,852.8 5,047.9 5,116.1 --- 3.8 1.3 5.5 4.6 2.5 4.3 4.6 .... -------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Source: U.S. Bureau of Economic Analysis