Table 1.--Real Gross Domestic Product and Related Measures: Percent Change From Preceding Period [Quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2000 2001 2002 IV 99 I 00 II 00 III 00 IV 00 I 01 II 01 III 01 IV 01 I 02 II 02 III 02 IV 02 I 03 II 03 III 03 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP). Personal consumption expenditures... Durable goods..................... Nondurable goods.................. Services.......................... Gross private domestic investment... Fixed investment.................. Nonresidential.................. Structures.................... Equipment and software........ Residential..................... Change in private inventories..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports........................... Goods........................... Services........................ Imports........................... Goods........................... Services........................ Government consumption expenditures and gross investment............... Federal........................... National defense................ Nondefense...................... State and local................... Addenda: Final sales of domestic product... Gross domestic purchases.......... Final sales to domestic purchasers....................... Gross national product (GNP)...... Disposable personal income........ Current-dollar measures: GDP............................. Final sales of domestic product. Gross domestic purchases........ Final sales to domestic purchasers..................... GNP............................. Disposable personal income...... ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- See "Explanatory Note" at the end of the tables. Table 2.--Contributions to Percent Change in Real Gross Domestic Product [Quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2000 2001 2002 IV 99 I 00 II 00 III 00 IV 00 I 01 II 01 III 01 IV 01 I 02 II 02 III 02 IV 02 I 03 II 03 III 03 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Percent change at annual rate: Gross domestic product.......... Percentage points at annual rates: Personal consumption expenditures. Durable goods................... Motor vehicles and parts...... Furniture and household equipment.................... Other......................... Nondurable goods................ Food.......................... Clothing and shoes............ Gasoline, fuel oil, and other energy goods................. Other......................... Services........................ Housing....................... Household operation........... Electricity and gas......... Other household operation... Transportation................ Medical care.................. Recreation.................... Other......................... Gross private domestic investment. Fixed investment................ Nonresidential................ Structures.................. Equipment and software...... Information processing equipment and software... Computers and peripheral equipment.............. Software................ Other................... Industrial equipment...... Transportation equipment.. Other equipment........... Residential................... Change in private inventories... Farm.......................... Nonfarm....................... Net exports of goods and services. Exports......................... Goods......................... Services...................... Imports......................... Goods......................... Services...................... Government consumption expenditures and gross investment............. Federal......................... National defense.............. Consumption expenditures.... Gross investment............ Nondefense.................... Consumption expenditures..... Gross investment............. State and local................. Consumption expenditures.... Gross investment............ Addenda: Goods........................... Services........................ Structures...................... Motor vehicle output............ Final sales of computers........ ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- See "Explanatory Note" at the end of the tables. Table 3.--Gross Domestic Product and Related Measures: Level and Change From Preceding Period ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Billions of current dollars Billions of chained (2000) dollars ------------------------------------------------------ ------------------------------------------------------------------------------- Seasonally adjusted Seasonally adjusted Change from preceding at annual rates at annual rates period -------------------------------------------- -------------------------------------------- ------------------------- 2002 III 02 IV 02 I 03 II 03 III 03 2002 III 02 IV 02 I 03 II 03 III 03 2002 II 03 III 03 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product....... Personal consumption expenditures. Durable goods................... Motor vehicles and parts...... Furniture and household equipment.................... Other......................... Nondurable goods................ Food.......................... Clothing and shoes............ Gasoline, fuel oil, and other energy goods................. Other......................... Services........................ Housing....................... Household operation........... Electricity and gas......... Other household operation... Transportation................ Medical care.................. Recreation.................... Other......................... Gross private domestic investment. Fixed investment................ Nonresidential................ Structures.................. Equipment and software...... Information processing equipment and software... Computers and peripheral equipment.............. Software................ Other................... Industrial equipment...... Transportation equipment.. Other equipment........... Residential................... Change in private inventories... Farm.......................... Nonfarm....................... Net exports of goods and services. Exports......................... Goods......................... Services...................... Imports......................... Goods......................... Services...................... Government consumption expenditures and gross investment............. Federal......................... National defense.............. Consumption expenditures.... Gross investment............ Nondefense.................... Consumption expenditures.... Gross investment............ State and local................. Consumption expenditures.... Gross investment............ Residual.......................... Addenda: Final sales of domestic product. Gross domestic purchases........ Final sales to domestic purchasers..................... Gross domestic product.......... Plus: Income receipts from the rest of the world.......... Less: Income payments to the rest of the world.......... Equals: Gross national product.. Net 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 GDP, use table 2. See "Explanatory Note" at the end of the tables. Table 4.--Price Indexes for Gross Domestic Product and Related Measures: Percent Change From Preceding Period [Quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2000 2001 2002 IV 99 I 00 II 00 III 00 IV 00 I 01 II 01 III 01 IV 01 I 02 II 02 III 02 IV 02 I 03 II 03 III 03 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP). Personal consumption expenditures... Durable goods..................... Nondurable goods.................. Services.......................... Gross private domestic investment... Fixed investment.................. Nonresidential.................. Structures.................... Equipment and software........ Residential..................... Change in private inventories..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports........................... Goods........................... Services........................ Imports........................... Goods........................... Services........................ Government consumption expenditures and gross investment............... Federal........................... National defense................ Nondefense...................... State and local................... Addenda: Final sales of domestic product... Gross domestic purchases.......... Final sales to domestic purchasers....................... Gross national product (GNP)...... Implicit price deflators: GDP............................. Gross domestic purchases........ GNP............................. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- See "Explanatory Note" at the end of the tables. Table 5.--Real Gross Domestic Product, Quantity Indexes [Index numbers, 2000=100] ----------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted --------------------------------------------------- 2000 2001 2002 III 02 IV 02 I 03 II 03 III 03 ----------------------------------------------------------------------------------------------------------------------------------- Gross domestic product............. Personal consumption expenditures.......... Durable goods............................ Nondurable goods......................... Services................................. Gross private domestic investment.......... Private fixed investment................. Nonresidential......................... Structures........................... Equipment and software............... Residential............................ Change in private inventories............ ..... ..... ..... ..... ..... ..... ..... ..... Exports of goods and services.............. Imports of goods and services.............. Government consumption expenditures and gross investment.......................... Federal.................................. State and local.......................... Addenda: Final sales of domestic product.......... Gross domestic purchases................. Final sales to domestic purchasers....... Gross national product................... ----------------------------------------------------------------------------------------------------------------------------------- See "Explanatory Note" at the end of the tables. Table 6.--Price Indexes for Gross Domestic Product [Index numbers, 2000=100] ----------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted --------------------------------------------------- 2000 2001 2002 III 02 IV 02 I 03 II 03 III 03 ----------------------------------------------------------------------------------------------------------------------------------- Gross domestic product............. Personal consumption expenditures.......... Durable goods............................ Nondurable goods......................... Services................................. Gross private domestic investment.......... Private fixed investment................. Nonresidential......................... Structures........................... Equipment and software............... Residential............................ Change in private inventories............ ..... ..... ..... ..... ..... ..... ..... ..... Exports of goods and services.............. Imports of goods and services.............. Government consumption expenditures and gross investment.......................... Federal.................................. State and local.......................... Addenda: Final sales of domestic product.......... Gross domestic purchases................. Final sales to domestic purchasers....... Gross national product................... Implicit price deflators: Gross domestic product................. Final sales of domestic product........ Gross domestic purchases............... Final sales to domestic purchasers..... Gross national product................. ----------------------------------------------------------------------------------------------------------------------------------- See "Explanatory Note" at the end of the tables. Table 7.--Real Gross Domestic Product: Percent Change from Preceding Year ----------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP).... Personal consumption expenditures...... Durable goods........................ Nondurable goods..................... Services............................. Gross private domestic investment...... Fixed investment..................... Nonresidential..................... Structures....................... Equipment and software........... Residential........................ Change in private inventories........ ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services...... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports.............................. Goods.............................. Services........................... Imports.............................. Goods.............................. Services........................... Government consumption expenditures and gross investment.................. Federal.............................. National defense................... Nondefense......................... State and local...................... Addenda: Final sales of domestic product...... Gross domestic purchases............. Final sales to domestic purchasers... Gross national product............... Real disposable personal income...... Price indexes: Gross domestic purchases........... Gross domestic purchases excluding food and energy................... GDP................................ GDP excluding food and energy...... Personal consumption expenditures.. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------- Table 8.--Real Gross Domestic Product: Percent Change From Quarter One Year Ago ----------------------------------------------------------------------------------------------------------------------------------------------------------------------- IV 99 I 00 II 00 III 00 IV 00 I 01 II 01 III 01 IV 01 I 02 II 02 III 02 IV 02 I 03 II 03 III 03 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP).... Personal consumption expenditures...... Durable goods........................ Nondurable goods..................... Services............................. Gross private domestic investment...... Fixed investment..................... Nonresidential..................... Structures....................... Equipment and software........... Residential........................ Change in private inventories........ ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Net exports of goods and services...... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... ..... Exports.............................. Goods.............................. Services........................... Imports.............................. Goods.............................. Services........................... Government consumption expenditures and gross investment.................. Federal.............................. National defense................... Nondefense......................... State and local...................... Addenda: Final sales of domestic product...... Gross domestic purchases............. Final sales to domestic purchasers... Gross national product............... Real disposable personal income...... Price indexes: Gross domestic purchases........... Gross domestic purchases excluding food and energy................... GDP................................ GDP excluding food and energy...... Personal consumption expenditures.. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------- Table 9.--Relation of Gross Domestic Product, Gross National Product, and National Income [Billions of dollars] ----------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates --------------------------------------------------- 2000 2001 2002 III 02 IV 02 I 03 II 03 III 03 ----------------------------------------------------------------------------------------------------------------------------------- Gross domestic product..................... Plus: Income receipts from the rest of the world..................................... Less: Income payments to the rest of the world..................................... Equals: Gross national product............. Less: Consumption of fixed capital......... Less: Statistical discrepancy.............. Equals: National income.................... Compensation of employees................ Wage and salary accruals............... Supplements to wages and salaries...... Proprietors' income with inventory valuation and capital consumption adjustments............................. Rental income of persons with capital consumption adjustment.................. Corporate profits with inventory valuation and capital consumption adjustments............................. Net interest and miscellaneous payments.. Taxes on production and imports less subsidies............................... Business current transfer payments....... Current surplus of government enterprises............................. Addendum: Gross domestic income.................... ----------------------------------------------------------------------------------------------------------------------------------- Table 10.--Personal Income and Its Disposition [Billions of dollars] ----------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates --------------------------------------------------- 2000 2001 2002 III 02 IV 02 I 03 II 03 III 03 ----------------------------------------------------------------------------------------------------------------------------------- Personal income\1\......................... Compensation of employees, received...... Wage and salary disbursements.......... Supplements to wages and salaries...... Proprietors' income with inventory valuation and capital consumption adjustments............................. Farm................................... Nonfarm................................ Rental income of persons with capital consumption adjustment.................. Personal income receipts on assets....... Personal interest income............... Personal dividend income............... Personal current transfer receipts....... Less: Contributions for government social insurance........................ Less: Personal current taxes............... Equals: Disposable personal income......... Less: Personal outlays..................... Equals: Personal saving.................... Personal saving as a percentage of disposable personal income.............. Addendum: Disposable personal income, billions of chained (2000) dollars\2\............... ----------------------------------------------------------------------------------------------------------------------------------- 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, current surplus of government enterprises, and wage accruals less disbursements, plus personal income receipts on assets, and personal current transfer receipts. 2. Equals disposable personal income deflated by the implicit price deflator for personal consumption expenditures. Table 11.--Corporate Profits: Level and Percent Change ------------------------------------------------------------------------------------------------------------------------------------------------------------- Billions of dollars Percent change from preceding period ---------------------------------------------------------------- ------------------------------------------------------ Seasonally adjusted Quarterly Quarter one at annual rates rates year ago --------------------------------------- ------------------------------- ------- 2000 2001 2002 III 02 IV 02 I 03 II 03 III 03 2001 2002 IV 02 I 03 II 03 III 03 III 03 ------------------------------------------------------------------------------------------------------------------------------------------------------------- Corporate profits with inventory valuation and capital consumption adjustments......................... Less: Taxes on corporate income...... Equals: Profits after tax with inventory valuation and capital consumption adjustments............. Net dividends...................... Undistributed profits with inventory valuation and capital consumption adjustments........... Cash flow: Net cash flow with inventory valuation and capital consumption adjustments....................... Undistributed profits with inventory valuation and capital consumption adjustments......... Consumption of fixed capital..... Less: Inventory valuation adjustment........................ Equals: Net cash flow.............. Addenda: Profits before tax (without inventory valuation and capital consumption adjustments).......... Profits after tax (without inventory valuation and capital consumption adjustments).......... Inventory valuation adjustment..... Capital consumption adjustment..... ------------------------------------------------------------------------------------------------------------------------------------------------------------- Table 12.--Corporate Profits by Industry: Level and Change From Preceding Period [Billions of dollars] ------------------------------------------------------------------------------------------------------------------------------------------------------------- Level Change from preceding period ---------------------------------------------------------------- ---------------------------------------------- Seasonally adjusted at annual rates --------------------------------------- ---------------------------------------------- 2000 2001 2002 III 02 IV 02 I 03 II 03 III 03 2001 2002 IV 02 I 03 II 03 III 03 ------------------------------------------------------------------------------------------------------------------------------------------------------------- Corporate profits with inventory valuation and capital consumption adjustments............................. Domestic industries.......................... Financial.................................. Nonfinancial............................... Rest of the world............................ Receipts from the rest of the world........ Less: Payments to the rest of the world.... Corporate profits with inventory valuation adjustment.................... Domestic industries.......................... Financial.................................. Federal Reserve banks.................... Other financial.......................... Nonfinancial............................... Utilities................................ Manufacturing............................ Durable goods.......................... Fabricated metal products............ Machinery............................ Computer and electronic products..... Electrical equipment, appliances, and components...................... Motor vehicles, bodies and trailers, and parts........................... Other durable goods.................. Nondurable goods....................... Food and beverage and tobacco products............................ Petroleum and coal products.......... Chemical products.................... Other nondurable goods............... Wholesale trade.......................... Retail trade............................. Transportation and warehousing........... Information.............................. Other nonfinancial....................... Rest of the world............................ ------------------------------------------------------------------------------------------------------------------------------------------------------------- Note.--Estimates in this table are based on the 1997 North American Industry Classification System (NAICS). Table 13.--Gross Value Added of Nonfinancial Corporate Business ----------------------------------------------------------------------------------------------------------------------------------- Seasonally adjusted at annual rates --------------------------------------------------- 2000 2001 2002 III 02 IV 02 I 03 II 03 III 03 ----------------------------------------------------------------------------------------------------------------------------------- Billions of dollars ---------------------------------------------------------------------------------------- Gross value added of nonfinancial corporate business.................... Consumption of fixed capital............... Net value added............................ Compensation of employees................ Wage and salary accruals............... Supplements to wages and salaries...... Taxes on production and imports less subsidies............................... Net operating surplus.................... Net interest and miscellaneous payments.............................. Business current transfer payments..... Corporate profits with inventory valuation and capital consumption adjustments........................... Taxes on corporate income............ Profits after tax with inventory valuation and capital consumption adjustments......................... Net dividends...................... Undistributed profits with inventory valuation and capital consumption adjustments........... Addenda: Profits before tax (without inventory valuation and capital consumption adjustments)............................ Profits after tax (without inventory valuation and capital consumption adjustments)............................ Inventory valuation adjustment........... Capital consumption adjustment........... ---------------------------------------------------------------------------------------- Billions of chained (2000) dollars ---------------------------------------------------------------------------------------- Gross value added of nonfinancial corporate business\1\................. Consumption of fixed capital\2\............ Net value added\3\......................... ---------------------------------------------------------------------------------------- Dollars ---------------------------------------------------------------------------------------- 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\... Compensation of employees (unit labor cost)................................... Unit nonlabor cost....................... Consumption of fixed capital........... Taxes on production and imports less subsidies plus business current transfer payments..................... Net interest and miscellaneous payments Corporate profits with inventory valuation and capital consumption adjustments (unit profits from current production)........ Taxes on corporate income.............. Profits after tax with inventory valuation and capital consumption adjustments........................... ----------------------------------------------------------------------------------------------------------------------------------- 1. Effective December 10, 2003, the price index used to estimate gross value added of nonfinancial corporate business has been revised to reflect the 2000 reference year. Effective with the estimates scheduled for release in July 2004, the current-dollar value added will be deflated by a revised chain-type price index calculated using gross value added price indexes for each nonfinancial industry. 2. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product of the chain-type quantity index and the 2000 current-dollar value of the corresponding series, divided by 100. 3. Chained-dollar net value added of nonfinancial corporate business is the difference between the gross value added and the consumption of fixed capital. 4. The deflator for gross value added of nonfinancial corporate business divided by 100. Appendix Table A.--Real Gross Domestic Product and Related Aggregates and Price Indexes: Percent Change From Preceding Period [Quarters seasonally adjusted at annual rates] ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2000 2001 2002 IV 99 I 00 II 00 III 00 IV 00 I 01 II 01 III 01 IV 01 I 02 II 02 III 02 IV 02 I 03 II 03 III 03 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Gross domestic product (GDP) and related aggregates: GDP............................... Goods............................. Services.......................... Structures........................ Motor vehicle output.............. GDP excluding motor vehicle output........................... Final sales of computers\1\....... GDP excluding final sales of computers........................ Farm gross value added\2\......... Nonfarm business gross value added\3\......................... Price indexes: GDP............................... GDP excluding food and energy..... GDP excluding final sales of computers........................ Gross domestic purchases.......... Gross domestic purchases excluding food and energy.................. Gross domestic purchases excluding final sales of computers......... Personal consumption expenditures. Personal consumption expenditures excluding food and energy........ ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1. For some components of final sales of computers, includes computer parts. 2. Farm output less intermediate goods and services purchased. 3. Consists of GDP less gross value added of farm, of households and institutions, and of general government. See "Explanatory Note" at the end of the tables.