Total output, income, and spending

Total output, income, and spending

TOTAL OUTPUT, INCOME, AND SPENDING

GROSS DOMESTIC PRODUCT

In the second quarter of 2002, according to revised estimates,

current-dollar gross domestic product (GDP) rose 2.3 percent (annual

rate), real GDP (GDP in chained 1996 dollars) rose 1.1 percent, and the

implicit price deflator rose 1.1 percent.

[GRAPHIC OMITTED][Billions of current dollars; quarterly data at seasonally adjusted

annual rates]

Personal Gross

Gross con- private

Period domestic sumption domestic

product expendi- product

tures

1992 6,318.9 4,209.7 866.6

1993 6,642.3 4,454.7 955.1

1994 7,054.3 4,716.4 1,097.1

1995 7,400.5 4,969.0 1,143.8

1996 7,813.2 5,237.5 1,242.7

1997 8,318.4 5,529.3 1,390.5

1998 8,781.5 5,856.0 1,538.7

1999 9,274.3 6,246.5 1,636.7

2000 9,824.6 6,683.7 1,755.4

2001 10,082.2 6,987.0 1,586.0

1999: I 9,092.7 6,076.6 1,618.0

II 9,171.7 6,195.6 1,597.8

III 9,316.5 6,299.4 1,637.9

IV 9,516.4 6,414.5 1,693.2

2000: I 9,649.5 6,552.2 1,711.4

II 9,820.7 6,638.7 1,786.3

III 9,874.8 6,736.1 1,766.4

IV 9,953.6 6,808.0 1,757.4

2001: I 10,028.1 6,904.7 1,671.1

II 10,049.9 6,959.8 1,597.2

III 10,097.7 6,983.7 1,574.9

IV 10,152.9 7,099.9 1,500.7

2002: I 10,313.1 7,174.2 1,559.4

II (r) 10,371.0 7,252.2 1,589.7

Exports and imports

of goods and services

Period Net Exports Imports

exports

1992 -27.9 636.8 664.6

1993 -60.5 658.0 718.5

1994 -87.1 725.1 812.1

1995 -84.3 818.6 902.8

1996 -89.0 874.2 963.1

1997 -89.3 966.4 1,055.8

1998 -151.7 964.9 1,116.7

1999 -249.9 989.3 1,239.2

2000 -365.5 1,101.1 1,466.6

2001 -348.9 1,034.1 1,383.0

1999: I -196.4 959.2 1,155.6

II -241.8 970.2 1,212.0

III -274.6 996.8 1,271.4

IV -286.7 1,031.2 1,317.9

2000: I -330.6 1,055.9 1,386.5

II -353.2 1,098.0 1,451.1

III -384.9 1,130.9 1,515.8

IV -393.2 1,119.8 1,513.0

2001: I -372.7 1,100.0 1,472.8

II -365.7 1,059.7 1,425.3

III -312.6 1,005.8 1,318.4

IV -344.5 971.1 1,315.6

2002: I -360.1 977.5 1,337.5

II (r) -431.3 1,013.4 1,444.7

Government consumption expenditures

and gross investment

Federal

Period Total Total National Non-

defense defense

1992 1,270.5 534.5 378.5 156.0

1993 1,293.0 527.3 364.9 162.4

1994 1,327.9 521.1 355.1 165.9

1995 1,372.0 521.5 350.6 170.9

1996 1,421.9 531.6 357.0 174.6

1997 1,487.9 538.2 352.6 185.6

1998 1,538.5 539.2 349.1 190.1

1999 1,641.0 565.0 364.3 200.7

2000 1,751.0 589.2 374.9 214.3

2001 1,858.0 628.1 399.9 228.2

1999: I 1,594.5 550.0 354.0 196.0

II 1,620.1 556.1 355.1 201.0

III 1,653.9 569.0 368.7 200.3

IV 1,695.4 584.9 379.5 205.5

2000: I 1,716.5 575.7 365.5 210.2

II 1,748.8 598.5 379.1 219.4

III 1,757.2 589.7 375.0 214.7

IV 1,781.4 592.9 380.0 213.0

2001: I 1,825.0 613.3 391.4 221.9

II 1,858.5 624.8 395.2 229.6

III 1,851.7 627.4 400.3 227.2

IV 1,896.8 646.9 412.8 234.1

2002: I 1,939.5 672.0 431.7 240.3

II (r) 1,960.4 688.8 442.1 246.7

Government

consumption

expenditures

and gross

investment

Final

State sales of Gross

and domestic domestic

Period local product purchases (1)

1992 736.0 6,303.9 6,346.8

1993 765.7 6,621.2 6,702.8

1994 806.8 6,991.8 7,141.4

1995 850.5 7,367.5 7,484.8

1996 890.4 7,783.2 7,902.1

1997 949.7 8,255.5 8,407.7

1998 999.3 8,708.4 8,933.3

1999 1,076.0 9,214.8 9,524.2

2000 1,161.8 9,761.1 10,190.1

2001 1,229.9 10,142.5 10,431.0

1999: I 1,044.5 9,018.0 9,289.1

II 1,064.0 9,144.0 9,413.5

III 1,084.8 9,269.7 9,591.2

IV 1,110.5 9,427.5 9,803.1

2000: I 1,140.8 9,602.6 9,980.1

II 1,150.3 9,731.5 10,173.9

III 1,167.4 9,813.6 10,259.7

IV 1,188.5 9,896.6 10,346.8

2001: I 1,211.7 10,055.3 10,400.8

II 1,233.7 10,107.0 10,415.5

III 1,224.3 10,158.3 10,410.4

IV 1,249.8 10,249.4 10,497.4

2002: I 1,267.5 10,343.0 10,673.1

II (r) 1,271.6 10,365.1 10,802.4

Adden-

dum:

Gross

national

Period product

1992 6,342.3

1993 6,666.7

1994 7,071.1

1995 7,420.9

1996 7,831.2

1997 8,325.4

1998 8,778.1

1999 9,297.1

2000 9,848.0

2001 10,104.1

1999: I 9,112.7

II 9,195.9

III 9,333.6

IV 9,546.0

2000: I 9,670.5

II 9,846.4

III 9,892.5

IV 9,982.8

2001: I 10,038.0

II 10,081.0

III 10,109.3

IV 10,188.1

2002: I 10,314.9

II (r) 10,356.7

(1) GDP less exports of goods and services plus imports of goods and

services.

Source: Department of Commerce, Bureau of Economic Analysis.

REAL GROSS DOMESTIC PRODUCT

|Billions of chained (1996) dollars; quarterly data at seasonally

adjusted annual rates|

Gross private

domestic

investment

Personal Nonresi-

con- dential

Gross sumption fixed

domestic expendi- invest-

Period product tures ment

1992 6,880.0 4,594.5 630.6

1993 7,062.6 4,748.9 683.6

1994 7,347.7 4,928.1 744.6

1995 7,543.8 5,075.6 817.5

1996 7,813.2 5,237.5 899.4

1997 8,159.5 5,423.9 1,009.3

1998 8,508.9 5,683.7 1,135.9

1999 8,859.0 5,964.5 1,228.4

2000 9,191.4 6,223.9 1,324.2

2001 9,214.5 6,377.2 1,255.1

1999: I 8,733.2 5,851.4 1,197.5

II 8,775.5 5,932.8 1,220.4

III 8,886.9 6,000.1 1,243.3

IV 9,040.1 6,073.6 1,252.4

2000: I 9,097.4 6,151.9 1,297.1

II 9,205.7 6,198.2 1,329.1

III 9,218.7 6,256.8 1,340.7

IV 9,243.8 6,288.8 1,329.9

2001: I 9,229.9 6,326.0 1,311.4

II 9,193.1 6,348.0 1,261.0

III 9,186.4 6,370.9 1,241.7

IV 9,248.8 6,464.0 1,206.4

2002: I 9,363.2 6,513.8 1,188.4

II (r) 9,389.6 6,543.8 1,180.7

Gross private Exports and

domestic investment imports of

goods and

services

Resi- Change

dential in pri-

fixed vate

invest- inven- Net

Period ment tories exports

1992 257.2 17.1 -19.8

1993 276.0 20.0 -59.1

1994 302.7 66.8 -86.5

1995 291.7 30.4 -78.4

1996 313.3 30.0 -89.0

1997 319.7 63.8 -113.3

1998 345.1 76.7 -221.1

1999 368.3 62.8 -320.5

2000 372.4 65.0 -398.8

2001 373.5 -61.4 -415.9

1999: I 364.1 80.0 -283.2

II 368.4 31.2 -319.6

III 369.2 47.6 -339.6

IV 371.7 92.2 -339.5

2000: I 379.1 45.3 -368.8

II 376.2 91.5 -394.6

III 367.2 63.1 -413.1

IV 367.2 59.9 -418.5

2001: I 374.5 -26.9 -404.5

II 374.0 -58.3 -414.8

III 374.3 -61.8 -419.0

IV 371.0 -98.4 -425.3

2002: I 383.6 -28.9 -446.6

II (r) 385.7 7.3 -494.1

Exports and imports Government

of goods and consumption

services expenditures

and gross

investment

Period Exports Imports Total

1992 651.0 670.8 1,410.0

1993 672.7 731.8 1,398.8

1994 732.8 819.4 1,400.1

1995 808.2 886.6 1,406.4

1996 874.2 963.1 1,421.9

1997 981.5 1,094.8 1,455.4

1998 1,002.4 1,223.5 1,483.3

1999 1,036.3 1,356.8 1,540.6

2000 1,137.2 1,536.0 1,582.5

2001 1,076.1 1,492.0 1,640.4

1999: I 1,007.5 1,290.7 1,515.9

II 1,018.1 1,337.7 1,526.7

III 1,044.1 1,383.7 1,546.5

IV 1,075.6 1,415.2 1,573.2

2000: I 1,095.8 1,464.6 1,568.3

II 1,133.9 1,528.5 1,586.1

III 1,165.5 1,578.6 1,582.2

IV 1,153.7 1,572.2 1,593.4

2001: I 1,135.8 1,540.3 1,615.7

II 1,098.8 1,513.6 1,638.0

III 1,048.0 1,467.0 1,633.3

IV 1,021.8 1,447.2 1,674.5

2002: I 1,030.6 1,477.1 1,697.3

II (r) 1,060.9 1,555.0 1,703.4

Government consumption expenditures

and gross investment

Federal

National Non-

Period Total defense defense

1992 595.1 417.1 177.9

1993 572.0 394.7 177.3

1994 551.3 375.9 175.5

1995 536.5 361.9 174.6

1996 531.6 357.0 174.6

1997 529.6 347.7 181.8

1998 525.4 341.6 183.8

1999 537.7 348.8 188.8

2000 544.4 348.7 195.6

2001 570.6 366.0 204.4

1999: I 527.2 341.2 185.9

II 530.6 341.0 189.5

III 540.1 352.4 187.7

IV 553.0 360.8 192.1

2000: I 533.8 341.3 192.3

II 544.0 353.4 200.3

III 543.7 347.9 195.6

IV 546.4 351.9 194.3

2001: I 559.0 359.0 199.8

II 567.2 361.4 205.6

III 568.9 365.5 203.2

IV 587.2 378.0 209.1

2002: I 597.8 388.5 209.3

II (r) 609.0 395.7 213.3

Government

consumption

expenditures

and gross

investment

Final Gross

State sales of domestic

and domestic pur-

Period local product chases (1)

1992 815.3 6,867.7 6,896.4

1993 827.0 7,043.8 7,120.6

1994 848.9 7,285.8 7,434.2

1995 869.9 7,512.2 7,621.8

1996 890.4 7,783.2 7,902.1

1997 925.8 8,095.2 8,271.7

1998 957.7 8,431.8 8,721.3

1999 1,002.4 8,793.9 9,160.2

2000 1,037.4 9,121.1 9,561.2

2001 1,069.4 9,258.4 9,600.7

1999: I 988.3 8,654.3 9,002.1

II 995.7 8,741.0 9,076.2

III 1,006.0 8,833.6 9,204.9

IV 1,019.8 8,946.6 9,357.7

2000: I 1,033.8 9,042.9 9,440.8

II 1,031.8 9,111.1 9,571.9

III 1,037.8 9,150.4 9,600.9

IV 1,046.3 9,179.8 9,631.0

2001: I 1,056.2 9,243.8 9,604.6

II 1,070.2 9,234.3 9,577.1

III 1,064.1 9,230.5 9,575.8

IV 1,087.1 9,324.9 9,645.3

2002: I 1,099.3 9,379.4 9,778.2

II (r) 1,094.4 9,372.9 9,843.7

Adden-

dum:

gross

national

Period product

1992 6,905.8

1993 7,087.8

1994 7,364.3

1995 7,564.0

1996 7,831.2

1997 8,168.1

1998 8,508.4

1999 8,883.7

2000 9,237.3

2001 9,216.2

1999: I 8,755.5

II 8,801.8

III 8,906.4

IV 9,071.1

2000: I 9,119.7

II 9,233.0

III 9,238.2

IV 9,274.0

2001: I 9,241.7

II 9,224.3

III 9,199.8

IV 9,283.5

2002: I 9,367.5

II (r) 9,379.0

(1) GDP less exports of goods and services plus imports of goods and

services.

Note.–Because of the formula used for calculating real GDP, the

chained (1996) dollar estimates for the detailed components do not add

to the chained-dollar value of GDP or to any intermediate aggregates.

Source: Department of Commerce, Bureau of Economic Analysis.

IMPLICIT PRICE DEFLATORS FOR GROSS DOMESTIC PRODUCT

|Index numbers, 1996=100; quarterly data are seasonally adjusted|

Personal consumption

expenditures

Gross

domestic Durable

Period product Total goods

1992 91.84 91.62 98.28

1993 94.05 93.81 99.06

1994 96.01 95.70 100.56

1995 98.10 97.90 101.06

1996 100.00 100.00 100.00

1997 101.95 101.94 97.75

1998 103.20 103.03 95.40

1999 104.69 104.73 93.03

2000 106.89 107.39 91.46

2001 109.42 109.56 89.70

1999: I 104.12 103.85 93.71

II 104.51 104.43 93.24

III 104.83 104.99 92.84

IV 105.27 105.61 92.38

2000: I 106.07 106.51 91.91

II 106.68 107.11 91.74

III 107.12 107.66 91.24

IV 107.68 108.26 90.96

2001: I 108.65 109.15 90.70

II 109.32 109.64 89.91

III 109.92 109.62 89.31

IV 109.78 109.84 88.97

2002: I 110.14 110.14 88.02

II (r) 110.45 110.83 87.38

Personal cunsumption Gross private

expenditures domestic

investment

Nonresi-

Nondura- dential

Period ble goods Services fixed

1992 95.20 88.50 99.29

1993 96.14 91.56 99.81

1994 96.83 94.16 100.54

1995 97.93 97.25 100.93

1996 100.00 100.00 100.00

1997 101.34 103.12 99.02

1998 101.31 105.53 96.95

1999 103.69 107.81 95.53

2000 107.59 110.85 95.59

2001 109.17 114.32 95.73

1999: I 102.13 106.92 96.04

II 103.29 107.44 95.68

III 104.16 108.07 95.28

IV 105.10 108.78 95.16

2000: I 106.48 109.75 95.33

II 107.28 110.44 95.43

III 108.04 111.15 95.73

IV 108.53 112.02 95.85

2001: I 109.00 113.42 95.95

II 109.80 114.08 95.96

III 109.42 114.40 95.68

IV 108.45 115.38 95.31

2002: I 108.52 116.14 94.81

II (r) 109.75 116.89 94.53

Gross private Exports and imports of

domestic goods and services

investment

Residen-

dential

Period fixed Exports Imports

1992 87.69 97.82 99.09

1993 91.23 97.82 98.18

1994 94.48 98.94 99.12

1995 97.91 101.28 101.83

1996 100.00 100.00 100.00

1997 102.68 98.47 96.44

1998 105.58 96.26 91.27

1999 109.59 95.47 91.33

2000 114.40 96.83 95.49

2001 119.09 96.10 92.70

1999: I 108.02 95.21 89.54

II 109.22 95.29 90.60

III 110.11 95.47 91.88

IV 110.98 95.87 93.13

2000: I 112.89 96.36 94.67

II 113.98 96.83 94.94

III 114.87 97.03 96.02

IV 115.91 97.06 96.24

2001: I 117.49 96.85 95.61

II 118.78 96.44 94.17

III 119.51 95.97 89.87

IV 120.60 95.03 90.91

2002: I 120.61 94.85 90.55

II (r) 121.26 95.52 92.91

Government consumption expenditures

and gross investment

Federal

State

National Non- and

Period Total defense defense local

1992 89.82 90.75 87.71 90.28

1993 92.18 92.45 91.58 92.59

1994 94.51 94.49 94.55 95.04

1995 97.21 96.88 97.90 97.77

1996 100.00 100.00 100.00 100.00

1997 101.63 101.41 102.06 102.58

1998 102.63 102.22 103.41 104.34

1999 105.08 104.44 106.29 107.33

2000 108.23 107.53 109.55 111.98

2001 110.09 109.27 111.63 115.01

1999: I 104.33 103.77 105.41 105.70

II 104.82 104.15 106.08 106.86

III 105.36 104.65 106.70 107.84

IV 105.77 105.16 106.94 108.89

2000: I 107.87 107.09 109.34 110.35

II 108.04 107.26 109.52 111.49

III 108.48 107.80 109.77 112.49

IV 108.52 107.96 109.59 113.59

2001: I 109.72 109.02 111.06 114.72

II 110.15 109.35 111.67 115.28

III 110.29 109.50 111.79 115.06

IV 110.18 109.22 111.97 114.97

2002: I 112.41 111.14 114.79 115.29

II (r) 113.10 111.73 115.67 116.19

Source: Department of Commerce, Bureau of Economic Analysis.

GROSS DOMESTIC PRODUCT AND RELATED PRICE MEASURES:

INDEXES AND PERCENT CHANGES

|Quarterly data are seasonally adjusted|

Index numbers, 1996=100

Period GDP Real GDP GDP GDP

(current (chain-type chain-type implicit

dollars) quantity price index price

index) deflator

1992 80.88 88.06 91.85 91.84

1993 85.01 90.39 94.05 94.05

1994 90.29 94.04 96.01 96.01

1995 94.72 96.55 98.10 98.10

1996 100.00 100.00 100.00 100.00

1997 106.47 104.43 101.95 101.95

1998 112.39 108.91 103.20 103.20

1999 118.70 113.39 104.69 104.69

2000 125.74 117.64 106.89 106.89

2001 129.04 117.94 109.42 109.42

1997: I 103.98 102.60 101.36 101.34

II 105.97 104.08 101.82 101.82

III 107.39 105.16 102.12 102.12

IV 108.52 105.88 102.49 102.49

1998: I 110.43 107.46 102.76 102.76

II 111.32 108.06 103.02 103.01

III 112.84 109.16 103.38 103.38

IV 114.99 110.94 103.66 103.65

1999: I 116.38 111.78 104.12 104.12

II 117.39 112.32 104.52 104.51

III 119.24 113.74 104.84 104.83

IV 121.80 115.70 105.28 105.27

2000: I 123.50 116.44 106.08 106.07

II 125.69 117.82 106.69 106.68

III 126.39 117.99 107.13 107.12

IV 127.40 118.31 107.68 107.68

2001: I 128.35 118.13 108.66 108.65

II 128.63 117.66 109.32 109.32

III 129.24 117.58 109.92 109.92

IV 129.95 118.37 109.78 109.78

2002: I 132.00 119.84 110.14 110.14

II (r) 132.74 120.18 110.45 110.45

Percent change from preceding period (1)

Period GDP Real GDP GDP GDP

(current (chain-type chain-type implicit

dollars) quantity price price

index) index deflator

1992 5.6 3.0 2.4 2.4

1993 5.1 2.7 2.4 2.4

1994 6.2 4.0 2.1 2.1

1995 4.9 2.7 2.2 2.2

1996 5.6 3.6 1.9 1.9

1997 6.5 4.4 1.9 1.9

1998 5.6 4.3 1.2 1.2

1999 5.6 4.1 1.4 1.4

2000 5.9 3.8 2.1 2.1

2001 2.6 .3 2.4 2.4

1997: I 7.3 4.4 2.9 2.9

II 7.9 5.9 1.9 1.9

III 5.5 4.2 1.2 1.2

IV 4.2 2.8 1.4 1.4

1998: I 7.2 6.1 1.1 1.1

II 3.3 2.2 1.0 1.0

III 5.6 4.1 1.4 1.4

IV 7.8 6.7 1.1 1.1

1999: I 4.9 3.0 1.8 1.8

II 3.5 2.0 1.5 1.5

III 6.5 5.2 1.2 1.2

IV 8.9 7.1 1.7 1.7

2000: I 5.7 2.6 3.1 3.1

II 7.3 4.8 2.3 2.3

III 2.2 .6 1.6 1.6

IV 3.2 1.1 2.1 2.1

2001: I 3.0 -.6 3.7 3.7

II .9 -1.6 2.5 2.5

III 1.9 -.3 2.2 2.2

IV 2.2 2.7 -.5 -.5

2002: I 6.5 5.0 1.3 1.3

II (r) 2.3 1.1 1.1 1.1

(1) Percent changes based on unrounded data. Quartely percent changes

are at annual rates.

Source: Department of Commerce, Bureau of Economic Analysis.

NONFINANCIAL CORPORATE BUSINESS–OUTPUT, PRICE, COSTS, AND PROFITS

|Quarterly data at seasonally adjusted annual rates|

Gross product Price costs, and profits

of nonfinancial per unit of real output

corporate business (dollars)

(billions of dollars)

Period Current Chained Price per Compensa-

dollars (1996) unit of tion of

dollars real gross employees

product of (unit labor

nonfinan- cost)

cial corpo-

rate busi-

ness (1)

1992 3,288.0 3,468.4 0.948 0.633

1993 3,457.6 3,573.8 .967 .641

1994 3,737.2 3,801.5 .983 .639

1995 3,945.9 3,960.1 .996 .645

1996 4,159.5 4,159.5 1.000 .641

1997 4,435.1 4,404.2 1.007 .644

1998 4,707.1 4,658.1 1.011 .656

1999 4,981.0 4,896.3 1.017 .668

2000 5,295.0 5,075.7 1.043 .698

2001 5,354.2 5,048.7 1.061 .708

1999: I 4,899.9 4,832.8 1.014 .665

II 4,945.1 4,870.2 1.015 .665

III 4,995.0 4,909.6 1.017 .669

IV 5,084.2 4,972.7 1.022 .674

2000: I 5,228.7 5,065.2 1.032 .688

II 5,275.1 5,063.2 1.042 .692

III 5,335.5 5,095.3 1.047 .702

IV 5,340.7 5,079.1 1.052 .710

2001: I 5,318.6 5,037.6 1.056 .712

II 5,340.9 5,032.2 1.061 .712

III 5,365.7 5,029.0 1.067 .710

IV 5,391.6 5,096.1 1.058 .697

2002: I 5,429.7 5,142.7 1.056 .695

II (p) 5,483.8 5,198.9 1.055 .694

Price costs, and profits

per unit of real output

(dollars)

Unit non labor cost

Period Total Consumption Indirect Net

of fixed business interest

capital tax,

etc. (2)

1992 0.236 0.107 0.096 0.033

1993 .236 .108 .098 .030

1994 .238 .109 .101 .028

1995 .239 .110 .100 .029

1996 .236 .111 .099 .026

1997 .237 .112 .098 .027

1998 .240 .112 .098 .030

1999 .244 .114 .098 .032

2000 .254 .118 .100 .036

2001 .272 .129 .104 .039

1999: I .239 .112 .097 .030

II .241 .113 .097 .031

III .246 .115 .098 .033

IV .247 .114 .099 .034

2000: I .248 .115 .099 .034

II .253 .117 .100 .036

III .256 .119 .100 .037

IV .261 .121 .102 .038

2001: I .268 .125 .104 .039

II .271 .127 .105 .039

III .276 .136 .101 .039

IV .273 .129 .105 .039

2002: I .272 .130 .105 .037

II (p) .274 .132 .105 .037

Price costs, and profits

per unit of real output

(dollars)

Corporate profits with inventory

valuation and capital consumption

adjustments (3)

Period Total Profits Profits

tax after

liability tax (4)

1992 0.080 0.026 .054

1993 .091 .029 .062

1994 .106 .034 .072

1995 .112 .035 .077

1996 .122 .036 .086

1997 .126 .036 .090

1998 .114 .033 .081

1999 .106 .034 .072

2000 .091 .034 .057

2001 .081 .024 .056

1999: I .110 .034 .076

II .109 .035 .074

III .103 .034 .069

IV .102 .034 .068

2000: I .097 .036 .061

II .097 .036 .061

III .090 .033 .056

IV .081 .030 .051

2001: I .076 .027 .050

II .078 .027 .051

III .080 .026 .054

IV .088 .018 .070

2002: I .088 .023 .065

II (p) .087 .025 .062

(1) The deflator for gross product of nonfinancial corporate business

divided by 100.

(2) Indirect business tax and nontax liability plus business transfer

payments less subsidies.

(3) Unit profits from current production.

(4) With inventory valuation and capital consumption adjustments.

Source: Department of Commerce, Bureau of Economic Analysis.

NATIONAL INCOME

|Billions of dollars; quarterly data at seasonally adjusted annual

rates|

Compen-

sation

of

National employ-

Period income ees (1)

1992 4,994.9 3,644.8

1993 5,251.9 3,814.4

1994 5,556.8 4,016.2

1995 5,876.7 4,202.5

1996 6,210.4 4,395.6

1997 6,618.4 4,651.3

1998 7,041.4 4,989.6

1999 7,468.7 5,308.8

2000 7,984.4 5,723.4

2001 8,122.0 5,874.9

1999: I 7,343.1 5,216.8

II 7,405.9 5,260.3

III 7,475.9 5,329.0

IV 7,650.1 5,429.1

2000: I 7,860.2 5,627.3

II 7,954.5 5,670.5

III 8,048.3 5,773.1

IV 8,074.8 5,822.7

2001: I 8,092.1 5,878.9

II 8,110.1 5,879.3

III 8,089.1 5,880.4

IV 8,196.8 5,860.9

2002: I 8,276.5 5,916.4

II (r) 8,330.1 5,968.9

Proprietors’ income

with inventory

valuation and

capital consumption

adjustments

Rental

income

of

persons

with

capital

consump-

tion

adjust-

Period Farm Nonfarm ment

1992 32.7 401.7 63.3

1993 30.1 431.7 90.9

1994 31.9 444.6 110.3

1995 22.2 475.5 117.9

1996 34.3 510.5 129.7

1997 29.7 551.5 128.3

1998 25.6 598.2 138.6

1999 27.7 650.7 149.1

2000 22.6 692.2 146.6

2001 19.0 708.8 137.9

1999: I 30.1 629.2 148.9

II 29.7 644.5 149.9

III 25.7 657.0 145.8

IV 25.4 672.0 152.0

2000: I 22.3 680.2 151.4

II 25.0 693.8 146.7

III 21.7 696.9 144.9

IV 21.2 698.1 143.5

2001: I 19.3 701.9 137.0

II 18.4 708.2 134.3

III 19.3 713.1 140.8

IV 19.2 712.1 139.3

2002: I 21.7 726.7 141.3

II (r) 7.5 739.7 154.5

Corporate profits with inventory valuation and

capital consumption adjustments

Profits with inventory valuation

adjustment and without capital

consumption adjustments

Inventory

Profits valuation

before adjust-

Period Total Total tax ment

1992 453.1 448.8 451.6 -2.8

1993 510.5 506.4 510.4 -4.0

1994 573.2 561.0 573.4 -12.4

1995 668.8 650.2 668.5 -18.3

1996 754.0 729.4 726.3 3.1

1997 833.8 800.8 792.4 8.4

1998 777.4 739.4 721.1 18.3

1999 805.8 757.9 762.1 -4.2

2000 788.1 767.3 782.3 -15.0

2001 731.6 675.1 670.2 5.0

1999: I 808.2 760.5 744.4 16.0

II 802.1 750.5 752.9 -2.5

III 788.0 739.6 753.4 -13.8

IV 824.7 781.0 797.6 -16.6

2000: I 807.6 774.3 796.9 -22.6

II 807.3 784.2 800.5 -16.4

III 787.7 772.3 780.6 -8.3

IV 749.7 738.6 751.1 -12.5

2001: I 706.5 696.9 707.0 -10.1

II 721.4 714.0 720.2 -6.2

III 687.2 663.2 654.3 8.9

IV 811.4 626.3 599.1 27.2

2002: I 797.6 641.3 639.4 1.9

784.2 651.8 656.4 -4.6

Capital

consump-

tion

adjust- Net

Period ment interest

1992 4.3 399.5

1993 4.1 374.3

1994 12.2 380.5

1995 18.6 389.8

1996 24.6 386.3

1997 32.9 423.9

1998 38.0 511.9

1999 47.9 526.6

2000 20.8 611.5

2001 56.5 649.8

1999: I 47.8 509.9

II 51.6 519.4

III 48.5 530.4

IV 43.7 546.8

2000: I 33.4 571.1

II 23.1 611.1

III 15.4 624.0

IV 11.1 639.6

2001: I 9.6 648.5

II 7.3 648.6

III 23.9 648.3

IV 185.1 653.9

2002: I 156.3 672.8

II (r) 132.4 675.4

(1) Includes employer contributions for social insurance. (See also

p. 5)

Source: Department of Commerce, Bureau of Economic Analysis.

REAL PERSONAL CONSUMPTION EXPENDITURES

|Billions of channel (1996) dollars, quarterly data at seasonally

adjusted annual rates|

Durable goods

Total

personal

con- Motor

sumption Total vehicles

expendi- durable and

Period tures goods parts

1992 4,594.5 479.0 225.7

1993 4,748.9 518.3 242.2

1994 4,928.1 557.7 255.1

1995 5,075.6 583.5 253.4

1996 5,237.5 616.5 256.3

1997 5,423.9 657.3 264.8

1998 5,683.7 726.7 292.0

1999 5,964.5 812.5 322.1

2000 6,223.9 878.9 338.4

2001 6,377.2 931.9 361.9

1999: I 5,851.4 777.6 309.0

II 5,932.8 804.2 322.9

III 6,000.1 824.1 326.9

IV 6,073.6 844.2 329.5

2000: I 6,151.9 879.5 347.3

II 6,198.2 871.3 333.8

III 6,256.8 888.5 343.6

IV 6,288.8 876.5 329.1

2001: I 6,326.0 900.6 345.1

II 6,348.0 912.4 349.5

III 6,370.9 922.6 352.8

IV 6,464.0 992.0 400.4

2002: I 6,513.8 975.9 370.0

II (r) 6,543.8 981.2 369.2

Durable goods Nondurable

goods

Fur-

niture

and

house- Total

hold nondur-

equip- able

Period ment Other goods

1992 161.5 94.1 1,389.7

1993 177.4 100.7 1,430.3

1994 196.3 107.6 1,485.1

1995 215.4 115.0 1,529.0

1996 236.9 123.3 1,574.1

1997 261.9 130.8 1,619.9

1998 293.3 141.8 1,686.4

1999 335.1 156.5 1,765.1

2000 374.0 169.6 1,833.8

2001 398.0 175.3 1,869.8

1999: I 317.8 151.6 1,736.1

II 328.6 153.4 1,756.7

III 340.8 157.7 1,767.7

IV 353.1 163.5 1,799.9

2000: I 366.0 167.8 1,809.7

II 372.2 168.6 1,831.6

III 377.1 170.7 1,840.9

IV 380.6 171.3 1,853.1

2001: I 386.0 173.1 1,863.7

II 392.8 174.2 1,862.3

III 399.5 175.0 1,868.3

IV 413.6 178.9 1,885.0

2002: I 428.2 184.2 1,921.4

II (r) 435.6 184.2 1,921.9

Nondurable goods

Gaso-

Clothing line

and and

Period Food shoes oil

1992 725.6 208.8 112.5

1993 745.1 218.5 115.4

1994 764.9 231.6 117.4

1995 777.0 244.3 120.2

1996 786.0 258.6 124.2

1997 794.5 271.6 128.1

1998 819.4 290.4 131.8

1999 846.8 312.1 136.4

2000 879.0 329.4 135.7

2001 887.0 337.7 138.8

1999: I 831.9 307.9 134.3

II 842.2 311.6 136.8

III 847.3 314.1 136.1

IV 866.0 314.7 138.6

2000: I 870.8 322.3 134.4

II 880.5 327.9 135.9

III 880.7 332.3 136.1

IV 883.9 335.1 136.3

2001: I 889.1 334.3 137.6

II 887.4 334.7 136.2

III 884.3 337.1 139.9

IV 887.1 344.8 141.4

2002: I 901.4 355.8 145.1

II (r) 900.3 355.7 143.5

Nondurable goods Services

Fuel

oil

and Total

Period coal Other services (1)

1992 13.2 331.2 2,729.7

1993 14.0 338.5 2,802.5

1994 15.0 356.8 2,886.2

1995 15.7 372.0 2,963.4

1996 15.6 389.8 3,047.0

1997 15.0 410.8 3,147.0

1998 14.3 430.8 3,273.4

1999 14.7 455.7 3,395.4

2000 14.0 477.0 3,524.5

2001 12.6 495.5 3,594.9

1999: I 14.6 448.1 3,343.6

II 15.2 451.7 3,379.7

III 14.7 456.3 3,417.4

IV 14.1 466.6 3,440.7

2000: I 13.3 469.8 3,477.7

II 14.2 474.1 3,508.2

III 14.0 479.2 3,541.7

IV 14.5 484.7 3,570.6

2001: I 13.9 490.0 3,576.3

II 12.3 493.5 3,589.3

III 12.2 496.5 3,597.5

IV 12.2 502.0 3,616.6

2002: I 12.4 510.1 3,642.2

II (r) 12.1 513.7 3,666.1

Services

Retail sales

of new pas-

senger cars

and light

trucks (mil-

Medical lions of

Period Housing care units)

1992 719.3 765.4 12.8

1993 728.1 775.4 13.9

1994 749.1 783.1 15.0

1995 763.7 797.7 14.7

1996 772.6 814.4 15.0

1997 787.2 835.4 15.1

1998 808.7 857.7 15.4

1999 835.0 875.6 16.8

2000 851.3 900.1 17.2

2001 866.0 938.3 17.0

1999: I 827.6 867.3 16.2

II 833.0 872.1 16.6

III 837.7 878.6 17.1

IV 841.6 884.4 17.2

2000: I 844.7 888.5 18.1

II 849.5 896.2 17.1

III 853.4 903.2 17.4

IV 857.5 912.5 16.3

2001: I 862.0 921.4 16.9

II 865.1 932.7 16.5

III 867.1 944.3 16.2

IV 869.6 954.9 18.4

2002: I 874.0 963.4 16.3

II (r) 878.5 974.6 16.3

(1) Includes other items, not shown separately.

NOTE.–Because of the formula used for calculating real GDP, the

chained (1996) dollar estimates for the detailed components do not add

to the chained-dollar value of GDP or to any intermediate aggreagates.

Source: Department of Commerce, Bureau of Economic Analysis.

SOURCES OF PERSONAL INCOME

Personal income rose $2.4 billion (annual rate) in July, following an

increase of $58.6 billion in June. Wages and salaries fell $10.7

billion in July, following an increase of $37.9 billion in June.

[GRAPHIC OMITTED][Billions of dollars; monthly data at seasonally adjusted annual rates]

Period Total Wage and Other

personal salary labor

income disburse- income (1 2)

ments. (1)

1992 5,390.4 2,982.6 449.5

1993 5,610.0 3,085.2 482.8

1994 5,888.0 3,236.7 507.5

1995 6,200.9 3,424.7 497.0

1996 6,547.4 3,626.5 490.0

1997 6,937.0 3,888.9 475.4

1998 7,426.0 4,192.8 490.6

1999 7,786.5 4,470.4 510.2

2000 8,406.6 4,836.3 544.2

2001 8,685.3 4,950.6 570.4

2001: July 8,710.1 4,962.9 571.0

Aug 8,701.0 4,952.3 572.3

Sept 8,707.5 4,946.1 573.8

Oct 8,685.2 4,923.5 574.7

Nov 8,686.7 4,922.3 576.2

Dec 8,730.9 4,948.6 577.9

2002: Jan 8,774.9 4,949.6 586.1

Feb 8,815.6 4,965.8 590.7

Mar 8,840.8 4,980.3 595.5

Apr (r) 8,875.7 4,977.7 599.8

May (r) 8,911.7 4,995.0 603.9

June (r) 8,970.3 5,032.9 608.5

July (r) 8,972.7 5,022.2 612.6

Proprietors’ income (3)

Period Farm Nonfarm Rental

income

of

persons (4)

1992 32.7 401.7 63.3

1993 30.1 431.7 90.9

1994 31.9 444.6 110.3

1995 22.2 475.5 117.9

1996 34.3 510.5 129.7

1997 29.7 551.5 128.3

1998 25.6 598.2 138.6

1999 27.7 650.7 149.1

2000 22.6 692.2 146.6

2001 19.0 708.8 137.9

2001: July 19.1 710.2 137.8

Aug 19.3 712.8 141.1

Sept 19.4 716.4 143.5

Oct 19.1 708.7 141.0

Nov 19.2 710.2 139.6

Dec 19.4 717.4 137.3

2002: Jan 20.8 722.4 139.4

Feb 21.8 728.2 141.3

Mar 22.5 729.4 143.2

Apr (r) 14.1 737.5 148.8

May (r) 5.1 740.7 154.4

June (r) 3.3 741.0 160.1

July (r) 7.8 743.3 154.5

Period Personal Personal Transfer

dividend interest payments (5)

income income

1992 185.3 750.1 751.7

1993 203.0 725.5 798.6

1994 234.7 742.4 833.9

1995 254.0 792.5 885.9

1996 297.4 810.6 928.8

1997 334.9 864.0 962.2

1998 348.3 964.4 983.7

1999 328.0 969.2 1,018.5

2000 375.7 1,077.0 1,070.3

2001 409.2 1,091.3 1,170.4

2001: July 408.8 1,090.4 1,183.1

Aug 411.0 1,086.5 1,178.7

Sept 413.1 1,082.3 1,185.7

Oct 415.1 1,074.7 1,200.3

Nov 417.2 1,072.2 1,201.9

Dec 419.6 1,071.9 1,212.9

2002: Jan 421.8 1,070.9 1,243.5

Feb 423.8 1,069.9 1,255.0

Mar 425.5 1,069.0 1,257.6

Apr (r) 428.0 1,077.1 1,274.9

May (r) 430.3 1,085.2 1,280.4

June (r) 432.7 1,093.2 1,284.6

July (r) 435.0 1,092.5 1,290.3

Period Less: Personal

contributions

for social

insurance

1992 226.6

1993 237.8

1994 254.1

1995 268.8

1996 280.4

1997 297.9

1998 316.3

1999 337.4

2000 358.4

2001 372.3

2001: July 373.3

Aug 373.0

Sept 372.9

Oct 371.9

Nov 372.1

Dec 374.0

2002: Jan 379.8

Feb 381.0

Mar 382.1

Apr (r) 382.1

May (r) 383.4

June (r) 386.0

July (r) 385.6

(1) The total of wage and salary disbursements and other labor income

differs from compensation of employees see (p. 4) in that it excludes

employer contributions for social insurance and the excess of wage

accruals over wage disbursements.

(2) Consist primarily of employer contributions to private pension and

private welfare funds.

(3) With inventory valuation and capital consumption adjustments.

(4) With capital consumption adjustment.

(5) Consists mainly of social insurance benefits, direct relief, and

veterans payments.

Source: Department of Commerce, Bureau of Economic Analysis.

DISPOSITION OF PERSONAL INCOME

According to revised estimates, per capita disposable personal income

in chained (1996) dollars rose at an annual rate of 2.5 percent in the

second quarter of 2002.

[GRAPHIC OMITTED]

Period Personal Less: Equals: Less:

income Personal Disposable Personal

tax and personal out-

nontax income lays (1)

payments

Billions of dollars

1992 5,390.4 635.8 4,754.6 4,340.9

1993 5,610.0 674.6 4,935.3 4,584.5

1994 5,888.0 722.6 5,165.4 4,849.9

1995 6,200.9 778.3 5,422.6 5,120.2

1996 6,547.4 869.7 5,677.7 5,405.6

1997 6,937.0 968.8 5,968.2 5,715.3

1998 7,426.0 1,070.4 6,355.6 6,054.1

1999 7,786.5 1,159.1 6,627.4 6,453.3

2000 8,406.6 1,286.4 7,120.2 6,918.6

2001 8,685.3 1,292.1 7,393.2 7,223.5

Seasonally adjusted annual rates

1999: I 7,655.9 1,125.5 6,530.3 6,276.4

II 7,722.2 1,142.0 6,580.2 6,400.3

III 7,807.7 1,167.2 6,405.5 6,507.2

IV 7,960.2 1,201.8 6,758.4 6,629.4

2000: I 8,211.6 1,256.3 6,955.3 6,775.9

II 8,350.2 1,273.0 7,077.2 6,869.8

III 8,487.8 1,299.6 7,188.2 6,976.7

IV 8,576.6 1,316.7 7,259.8 7,052.1

2001: I 8,658.1 1,340.6 7,317.5 7,143.9

II 8,676.2 1,336.1 7,340.0 7,198.5

III 8,706.2 1,181.9 7,524.2 7,222.0

IV 8,700.9 1,309.7 7,391.2 7,329.6

2002: I 8,810.4 1,142.1 7,668.3 7,396.3

II (r) 8,919.2 1,132.0 7,787.2 7,481.0

Per capita

disposable personal

income

Period Equals: Disposable Current Chained

Personal personal dollars (1996)

saving income in dollars

billions

of chained

(1996)

dollars

Billions Dollars

of dollars

1992 413.7 5,189.3 18,524 20,217

1993 350.8 5,261.3 18,979 20,233

1994 315.5 5,397.2 19,624 20,504

1995 302.4 5,539.1 20,358 20,795

1996 272.1 5,677.7 21,069 21,069

1997 252.9 5,854.5 21,881 21,464

1998 301.5 6,168.6 23,031 22,354

1999 174.0 6,328.4 23,742 22,671

2000 201.5 6,630.3 25,205 23,471

2001 169.7 6,748.0 25,859 23,602

Seasonally adjusted annual rates

1999: I 253.9 6,288.4 23,498 22,628

II 179.9 6,301.0 23,614 22,612

III 133.3 6,325.0 23,753 22,625

IV 129.0 6,399.3 24,099 22,818

2000: I 179.4 6,530.4 24,734 23,223

II 207.5 6,607.6 25,097 23,432

III 211.5 6,676.8 25,407 23,599

IV 207.7 6,706.2 25,577 23,627

2001: I 173.7 6,704.3 25,713 23,558

II 141.6 6,694.8 25,717 23,456

III 302.2 6,864.0 26,275 23,970

IV 61.5 6,729.1 25,729 23,424

2002: I 272.0 6,962.5 26,621 24,171

II (r) 306.2 7,026.6 26,955 24,322

Per capita personal

consumption

expenditures

Period Current Chained Percent Saving as

dollars (1996) change percent

dollars in real of dispo-

per capita sable

disposable personal

personal income

income

Dollars Percent

1992 16,401 17,900 1.8 8.7

1993 17,131 18,262 .1 7.1

1994 17,918 18,722 1.3 6.1

1995 18,655 19,055 1.4 5.6

1996 19,435 19,435 1.3 4.8

1997 20,272 19,886 1.9 4.2

1998 21,221 20,597 4.1 4.7

1999 22,377 21,367 1.4 2.6

2000 23,660 22,032 3.5 2.8

2001 24,438 22,305 .6 2.3

Seasonally adjusted annual rates

1999: I 21,865 21,055 1.7 3.9

II 22,234 21,291 -.3 2.7

III 22,533 21,462 .2 2.0

IV 22,872 21,657 3.5 1.9

2000: I 23,301 21,877 7.3 2.6

II 23,542 21,980 3.6 2.9

III 23,809 22,115 2.9 2.9

IV 23,985 22,156 .5 2.9

2001: I 24,262 22,229 -1.2 2.4

II 24,385 22,241 -1.7 1.9

III 24,388 22,248 9.1 4.0

IV 24,715 22,501 -8.8 .8

2002: I 24,906 22,613 13.4 3.5

II (r) 25,103 22,651 2.5 3.9

Period Population

including

Armed

Forces

overseas

(thou-

sands) (2)

1992 256,677

1993 260,037

1994 263,226

1995 266,364

1996 269,485

1997 272,756

1998 275,955

1999 279,144

2000 282,489

2001 285,908

1999: I 277,910

II 278,651

III 279,562

IV 280,446

2000: I 281,202

II 281,994

III 282,923

IV 283,838

2001: I 284,582

II 285,418

III 286,360

IV 287,272

2002: I 288,051

II (r) 288,897

(1) Includes personal consumption expenditures, interest paid by

persons, and personal transfer payments to rest of the world (net).

(2) Annual data are averages of quarterly data, which are averages for

the period.

Estimates shown here are by Bureau of Economic Analysis. See Survey of

Current Business, December 2001.

Source: Department of Commerce (Bureau of Economic Analysis and Bureau

of the Census).

FARM INCOME

In the second quarter of 2002, according to preliminary estimates,

gross farm income fell $13.5 billion (annual rate) and net farm

income fell $15.6 billion.

[GRAPHIC OMITTED][Billions of dollars; quarterly data at seasonally adjusted annual

rates]

Income of farm operators farm farming

Gross farm income

Period Cash marketing receipts

Total (1) Livestock and

Total products Crops

1992 200.6 171.4 85.8 85.7

1993 205.0 178.2 90.5 87.7

1994 216.0 181.3 88.3 93.0

1995 210.8 188.0 87.2 100.8

1996 235.8 199.3 92.9 106.3

1997 (r) 238.1 207.7 96.5 111.2

1998 (r) 232.1 196.0 94.1 101.9

1999 (r) 234.5 187.5 95.6 91.9

2000 (r) 241.7 193.7 99.6 94.1

2001 (r) 246.5 202.8 106.4 96.4

2000: I (r) 231.6 189.8 98.1 91.7

II (r) 235.4 196.7 99.2 97.5

III (r) 239.5 204.8 101.2 103.6

IV (r) 260.4 183.5 99.7 83.8

2001: I (r) 232.3 195.1 103.7 91.3

II (r) 239.4 204.8 105.0 99.8

III (r) 244.4 212.4 107.0 105.4

IV (r) 270.0 199.1 110.0 89.1

2002: I (r) 232.7 197.9 99.2 98.7

II (p) 219.2 186.4 91.0 95.4

[Billions of dollars; quarterly data at seasonally adjusted annual

rates]

Income of farm operators from farming

Gross farm income

Period

Value of Direct Production Net farm

inventory Government expenses income

changes (2) payments

1992 4.2 9.2 152.8 47.8

1993 -4.2 13.4 160.4 44.7

1994 8.3 7.9 167.2 48.9

1995 -5.0 7.3 173.8 36.9

1996 7.9 7.3 181.0 54.8

1997 (r) .6 7.5 187.6 50.5

1998 (r) -.6 12.4 186.5 45.6

1999 (r) -.3 21.5 188.3 46.2

2000 (r) .1 22.9 193.7 48.0

2001 (r) -3.2 20.7 200.8 45.7

2000: I (r) .2 16.6 196.9 34.7

II (r) .1 13.5 202.6 32.8

III (r) .1 9.7 195.1 44.3

IV (r) .1 51.7 180.1 80.0

2001: I (r) -3.9 15.1 199.6 32.7

II (r) -3.8 12.3 207.5 31.9

III (r) -2.9 8.8 206.0 38.4

IV (r) -2.1 46.8 190.0 80.0

2002: I (r) -3.3 11.8 200.0 32.7

II (p) -3.1 9.6 202.1 17.1

(1) Cash marketing receipts, inventory changes and direct Government

payments, plus other farm cash income and nonmoney income produced by

farms.

(2) Physical changes in end-of-year inventory of crop and livestocks

commodities valued at weighted average market prices during the

periods.

NOTE–Data include Commodity Credit Corporation loan transactions and

imputed rent of operator residences.

Quarterly data plotted for 1992 and 1993 in chart do not reflect

revisions to annual data in table.

Data for 2002 are forecasts.

Source: Department of Agriculture.

CORPORATE PROFITS

In the second quarter of 2002, according to preliminary estimates,

corporate profits before tax rose $17.0 billion (annual rate) and

profits after tax rose $7.2 bilion.

[GRAPHIC OMITTED][Billions of dollars; quarterly data at seasonally adjusted annual

rates]

Profits (before tax) with inventory valuation

adjustment (1)

Domestic industries

Period

Total (2) Total Finan- Nonfinancal

cial

Total (3)

1992 448.8 380.1 124.8 255.2

1993 506.4 429.6 127.9 301.7

1994 561.0 483.7 114.7 369.0

1995 650.2 558.2 154.3 403.8

1996 729.4 628.6 165.3 463.3

1997 800.8 690.2 185.7 504.5

1998 739.4 637.2 158.4 478.8

1999 757.9 637.6 181.7 455.9

2000 767.3 624.0 201.0 423.0

2001 675.1 524.4 190.6 333.7

1999: I 760.5 647.1 175.1 471.9

II 750.5 635.0 170.2 464.8

III 739.6 624.0 183.2 440.9

IV 781.0 644.5 198.4 446.1

2000: I 774.3 642.7 201.7 441.0

II 784.2 642.7 193.1 449.7

III 772.3 626.9 204.5 422.4

IV 738.6 583.6 204.9 378.8

2001: I 696.9 560.8 208.2 352.6

II 714.0 553.6 191.6 362.0

III 663.2 521.4 162.7 358.7

IV 626.3 461.6 200.1 261.5

2002: I 641.3 509.3 218.2 291.1

II (p) 651.8 534.0 221.3 312.7

Profits (before tax) with inventory valuation

adjustment (1)

Domestic industries

Period

Nonfinacial

Manufac- Transpor- Whole- Retail

turing tation (4) sale

1992 93.9 58.5 25.9 33.7

1993 108.4 69.6 28.2 39.7

1994 139.6 82.9 33.1 46.6

1995 166.1 85.8 29.4 44.1

1996 181.2 91.4 42.6 52.9

1997 195.2 85.0 49.2 63.9

1998 164.3 79.1 55.9 73.8

1999 157.5 57.2 54.4 75.6

2000 159.8 36.6 62.1 73.4

2001 83.4 27.7 44.8 79.1

1999: I 159.1 63.9 57.4 79.4

II 161.0 53.3 53.7 79.8

III 155.8 53.1 50.0 71.0

IV 154.0 58.6 56.4 72.3

2000: I 167.6 43.6 57.3 77.7

II 176.1 35.7 66.7 74.1

III 160.7 34.4 67.1 74.0

IV 134.6 32.8 57.4 67.9

2001: I 92.3 36.6 45.2 75.7

II 99.2 34.3 41.0 77.8

III 91.1 33.3 45.9 82.6

IV 50.9 6.5 46.9 80.5

2002: I 68.9 15.0 41.2 81.4

II (p)

Profits after tax

Period Profits Tax

before liability Total Divi-

tax dends

1992 451.6 143.1 308.4 185.5

1993 510.4 165.4 345.0 203.1

1994 573.4 186.7 386.7 234.9

1995 668.5 211.0 457.5 254.2

1996 726.3 223.6 502.7 297.7

1997 792.4 237.2 555.2 335.2

1998 721.1 238.8 482.3 348.7

1999 762.1 247.8 514.3 328.4

2000 782.3 259.4 522.9 376.1

2001 670.2 199.3 470.9 409.6

1999: I 744.4 243.1 501.3 332.0

II 752.9 246.0 506.9 323.7

III 753.4 246.3 507.1 324.3

IV 797.6 255.7 542.0 333.5

2000: I 796.9 270.8 526.1 351.1

II 800.5 267.3 533.3 369.7

III 780.6 257.4 523.2 386.1

IV 751.1 241.9 509.2 397.6

2001: I 707.0 217.3 489.7 402.9

II 720.2 213.1 507.1 406.5

III 654.3 196.2 458.1 411.4

IV 599.1 170.6 428.5 417.7

2002: I 639.4 202.4 437.0 424.2

II (p) 656.4 212.2 444.2 430.8

Profits

after tax

Inven-

Period Undis- tory

tributed valu-

profits ation

adjust-

ment

1992 122.9 -2.8

1993 141.9 -4.0

1994 151.8 -12.4

1995 203.3 -18.3

1996 205.0 3.1

1997 220.0 8.4

1998 133.6 18.3

1999 185.9 -4.2

2000 146.8 -15.0

2001 61.2 5.0

1999: I 169.2 16.0

II 183.2 -2.5

III 182.8 -13.8

IV 208.5 -16.6

2000: I 174.9 -22.6

II 163.6 -16.4

III 137.1 -8.3

IV 111.6 -12.5

2001: I 86.8 -10.1

II 100.7 -6.2

III 46.7 8.9

IV 10.8 27.2

2002: I 12.8 1.9

II (p) 13.4 -4.6

(1) See p.4 for profits with inventory valuation and capital

consumption adjustments.

(2) Includes rest of the world, not shown separately.

(3) Includes industries not shown separately.

(4) Transportation and public utilities.

Source: Department of Commerce, Bureau of Economics Analysis.

REAL GROSS PRIVATE DOMESTIC INVESTMENT

In the second quarter of 2002, according to revised estimates,

nonresidential fixed investment in chained (1996) dollars fell

$7.7 billion (annual rate) and residential investment rose

$2.1 billion. There was an increase of $7.3 billion in inventories

following a decrease of $28.9 billion in the first quarter.

[GRAPHIC OMITTED][Billions of chained (1996) dollars; quarterly data at seasonally

adjusted annual rates]

Gross Nonresidential

Period private

domestic Total

investment Total Structures

1992 899.8 886.5 630.6 197.3

1993 977.9 958.4 683.6 198.9

1994 1,107.0 1,045.9 744.6 200.5

1995 1,140.6 1,109.2 817.5 210.1

1996 1,242.7 1,212.7 899.4 225.0

1997 1,393.3 1,328.6 1,009.3 245.4

1998 1,558.0 1,480.0 1,135.9 262.2

1999 1,660.5 1,595.2 1,228.4 258.6

2000 1,762.9 1,691.9 1,324.2 275.5

2001 1,574.6 1,627.4 1,255.1 270.9

1999: I 1,640.3 1,560.5 1,197.5 262.4

II 1,620.5 1,587.6 1,220.4 258.9

III 1,663.4 1,610.6 1,243.3 254.7

IV 1,717.8 1,622.2 1,252.4 258.5

2000: I 1,727.8 1,673.6 1,297.1 267.0

II 1,798.1 1,700.9 1,329.1 272.3

III 1,770.3 1,701.7 1,340.7 280.2

IV 1,755.2 1,691.3 1,329.9 282.7

2001: I 1,661.8 1,682.1 1,311.4 280.4

II 1,583.5 1,633.5 1,261.0 274.4

III 1,562.7 1,615.7 1,241.7 276.3

IV 1,490.3 1,578.4 1,206.4 252.7

2002: I 1,554.0 1,576.4 1,188.4 243.2

II 1,585.4 1,571.8 1,180.7 231.6

Fixed investment Change in private

inventories

Non-

residential

Period

Equipment Residential Total Nonfarm

and soft-

ware

1992 437.5 257.2 17.1 10.7

1993 487.1 276.0 20.0 28.6

1994 544.9 302.7 66.8 53.6

1995 607.6 291.7 30.4 42.6

1996 674.4 313.3 30.0 22.1

1997 764.2 319.7 63.8 60.6

1998 875.4 345.1 76.7 75.0

1999 975.9 368.3 62.8 64.1

2000 1,056.0 372.4 65.0 67.2

2001 988.2 373.5 -61.4 -63.2

1999: I 939.1 364.1 80.0 71.1

II 967.1 368.4 31.2 30.1

III 996.1 369.2 47.6 58.7

IV 1,001.2 371.7 92.2 96.7

2000: I 1,038.0 379.1 45.3 58.9

II 1,065.3 376.2 91.5 88.6

III 1,067.7 367.2 63.1 64.6

IV 1,053.1 367.2 59.9 56.8

2001: I 1,036.1 374.5 -26.9 -32.6

II 989.9 374.0 -58.3 -54.9

III 966.4 374.3 -61.8 -63.6

IV 960.3 371.0 -98.4 -101.5

2002: I 953.7 383.6 -28.9 -35.1

II 961.0 385.7 7.3 6.5

NOTE:–See p. 10 for further detail on fixed investment by type.

Because of the formula used for calculating real DGP, the chained

(1996) dollar estimates for the detailed components do not add to the

chained-dollar value of GDP or to any intermediate aggregates.

Source: Department of Commerce, Bureau of Economic Analysis.

REAL PRIVATE FIXED INVESTMENT BY TYPE

[Billions of chained (1996) dollars; quarterly data at seasonally

adjusted annual rates]

Nonresidential

Structures

Non-

resi- Min-

dential ing

Total build- ex-plo-

non- ings, ration,

Period resi- includ- shafts,

den- ing Utili- and

tial Total (1) farm ties wells

1992 630.6 197.3 129.2 41.8 17.2

1993 683.6 198.9 131.7 38.4 20.5

1994 744.6 200.5 137.2 36.1 19.8

1995 817.5 210.1 147.6 36.8 18.2

1996 899.4 225.0 161.7 36.0 21.1

1997 1,009.3 245.4 177.0 35.3 26.2

1998 1,135.9 262.2 188.3 42.7 25.1

1999 1,228.4 258.6 185.5 45.7 21.6

2000 1,324.2 275.5 192.3 50.4 27.0

2001 1,255.1 270.9 178.7 50.3 34.0

1999: I 1,197.5 262.4 192.1 44.1 20.4

II 1,220.4 258.9 186.0 44.3 21.9

III 1,243.3 254.7 182.3 46.2 20.8

IV 1,252.4 258.5 181.7 48.3 23.1

2000: I 1,297.1 267.0 188.4 48.3 24.5

II 1,329.1 272.3 192.4 49.3 25.0

III 1,340.7 280.2 194.5 51.1 28.6

IV 1,329.9 282.7 193.9 52.9 30.1

2001: I 1,311.4 280.4 193.8 50.6 30.9

II 1,261.0 274.4 183.2 51.5 34.6

III 1,241.7 276.3 174.2 49.7 35.9

IV 1,206.4 252.7 163.5 49.3 34.8

2002: I 1,188.4 243.2 157.1 50.8 30.2

II (r) 1,180.7 231.6 148.2 48.7 29.9

Nonresidential

Equipment and software

Information processing equipment

and software

Com-

puters

and

periph-

eral

Period equip- Soft-

Total (2) Total ment ware Other

1992 437.5 163.0 20.8 58.7 91.5

1993 487.1 183.4 26.4 66.8 96.4

1994 544.9 206.6 32.6 74.3 104.9

1995 607.6 242.8 49.2 82.0 113.1

1996 674.4 287.3 70.9 95.1 121.3

1997 764.2 349.8 102.9 119.0 129.8

1998 875.4 429.3 147.7 147.1 143.5

1999 975.9 508.1 207.4 169.3 157.5

2000 1,056.0 583.3 246.4 184.4 187.4

2001 988.2 548.5 239.9 182.0 163.9

1999: I 939.1 477.3 186.1 160.2 151.1

II 967.1 506.8 209.2 167.8 157.1

III 996.1 522.2 218.8 172.5 160.7

IV 1,001.2 526.1 215.3 176.8 161.2

2000: I 1,038.0 561.3 226.7 181.8 180.2

II 1,065.3 585.5 249.2 184.3 188.2

III 1,067.7 591.9 255.9 185.8 189.1

IV 1,053.1 594.3 253.9 185.6 192.2

2001: I 1,036.1 578.9 253.0 185.5 180.2

II 989.9 549.8 239.0 181.7 165.7

III 966.4 533.4 224.5 180.5 158.6

IV 960.3 531.8 243.3 180.6 151.2

2002: I 953.7 540.4 262.1 179.0 154.1

II (r) 961.0 556.0 273.0 183.2 158.5

Nonresidential Residential

Equipment and software Structures

Trans-

Indus- porta- Total

Period trial tion resi-

equip- equip- den- Single

ment ment tial (3) Total (4) family

1992 100.8 92.3 257.2 251.0 135.7

1993 109.6 103.4 276.0 269.4 148.0

1994 119.6 120.4 302.7 295.8 163.2

1995 131.3 128.2 291.7 284.4 147.7

1996 136.4 138.9 313.3 305.6 159.1

1997 140.0 150.5 319.7 311.8 158.6

1998 145.6 168.2 345.1 336.8 175.9

1999 147.5 193.2 368.3 359.4 189.0

2000 160.8 186.6 372.4 363.0 191.0

2001 153.8 163.6 373.5 364.0 192.6

1999: I 142.5 188.1 364.1 355.4 188.4

II 146.9 188.6 368.4 359.5 187.3

III 150.1 199.1 369.2 360.1 187.4

IV 150.5 196.8 371.7 362.5 192.8

2000: I 156.0 193.9 379.1 369.7 198.0

II 159.3 192.5 376.2 366.8 193.8

III 164.5 186.9 367.2 357.8 186.5

IV 163.4 173.0 367.2 357.8 185.8

2001: I 164.8 167.6 374.5 365.1 192.0

II 156.4 161.6 374.0 364.6 193.1

III 149.2 160.0 374.3 365.0 194.1

IV 144.7 165.4 371.0 361.5 191.3

2002: I 148.3 151.5 383.6 373.9 197.2

II (r) 145.9 143.6 385.7 376.0 198.1

(1) Includes other structures, not shown separately.

(2) Includes other items, not shown separately.

(3) Includes equipment, not shown separately.

(4) Includes multifamily and other structures, not shown separately.

NOTE.–Because of the formula used for calculating real GDP, the

chained (1996) dollar estimates for the detailed components do not add

to the chained-dollar value of GDP or to any intermediate aggregates.

Sources: Department of Commerce, Bureau of Economic Analysis.

BUSINESS INVESTMENT

[Billions of dollars]

Capital expenditures

By industry

Fores-

try-

fish-

ing

Total and

capi- agri-

tal Total cul-

Period ex- by tural Con-

pendi- indus- serv- Min- Utili- struc-

tures try ices ing ties tion

For companies with employees

1996 807.1

1997 871.8

1998 970.9 896.5 0.9 40.4 36.0 26.9

1999 1,047.0 974.6 1.7 30.6 42.8 23.1

2000 1,171.6 1,100.5 1.5 42.5 61.3 24.0

Capital expenditures

By industry

Trans-

porta-

tion Fi-

Manu- and nance

Period fac- Whole- ware- Infor- and

tur- sale Retail hous- ma- insur-

ing trade trade ing tion ance

For companies with employees

1996

1997

1998 203.6 29.2 57.3 51.3 96.5 118.2

1999 196.4 32.4 64.1 57.3 122.8 130.1

2000 214.7 35.0 69.6 60.0 164.2 133.7

Capital expenditures

By industry

Pro-

fess-

Real ional, For

es- scien- com-

tate tific, Health panies

and and care with-

rental tech- and out

Period and nical social em-

leas- serv- assis- Other ploy-

ing ices tance (1) ees

For companies with employees

1996

1997

1998 85.2 22.3 47.1 81.7 74.4

1999 100.6 29.5 51.3 91.8 72.3

2000 98.3 33.5 53.2 109.0 71.2

(1) Includes the following industries: Management of companies and

enterprises; administrative and support and waste management;

educational services; arts, entertainment, and recreation; accomodation

and food services; and other services (except public administration).

Also includes an item for structure and equipment expenditures serving

multiple industry categories.

NOTE.–Data from Annual Capital Expenditures. Industry data are based

on the North American Industry Classification System (NAICS): 1997.

Source: Department of Commerce, Bureau of the Census.

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