July 27, 2023 Table 7. Relation of Gross Domestic Product, Gross National Product, and National Income [Billions of dollars] Seasonally adjusted at annual rates Line 2020 2021 2022 2022 2023 Line Q2 Q3 Q4 Q1 Q2 1 Gross domestic product (GDP) 21,060.5 23,315.1 25,462.7 25,248.5 25,723.9 26,138.0 26,529.8 26,835.0 2 Plus: Income receipts from the rest of the world 971.3 1,087.0 1,256.2 1,231.3 1,292.1 1,354.6 1,402.8 3 Less: Income payments to the rest of the world 774.3 913.9 1,078.8 1,023.3 1,130.6 1,203.1 1,278.5 4 Equals: Gross national product 21,257.4 23,488.2 25,640.1 25,456.4 25,885.4 26,289.5 26,654.0 .. 5 Less: Consumption of fixed capital 3,577.8 3,831.6 4,284.7 4,242.1 4,358.1 4,425.1 4,506.4 4,563.5 6 Less: Statistical discrepancy -214.9 -128.9 -162.6 -269.3 -243.7 139.5 392.5 7 Equals: National income 17,894.6 19,785.5 21,518.0 21,483.6 21,771.0 21,724.9 21,755.2 .. 8 Compensation of employees 11,592.7 12,538.5 13,564.5 13,415.2 13,755.0 13,828.1 13,985.5 14,167.3 9 Wages and salaries 9,457.4 10,290.1 11,189.6 11,058.0 11,361.0 11,413.9 11,545.6 11,701.3 9 10 Supplements to wages and salaries 2,135.4 2,248.4 2,374.9 2,357.1 2,394.0 2,414.2 2,440.0 2,466.0 10 11 Proprietors' income with inventory valuation and capital consumption adjustments 1,643.1 1,753.6 1,848.3 1,835.4 1,863.5 1,882.9 1,909.5 1,905.6 11 12 Rental income of persons with capital consumption adjustment 719.8 723.8 781.9 775.9 794.9 811.8 845.0 864.0 12 13 Corporate profits with inventory valuation and capital consumption adjustments 2,260.1 2,771.1 2,952.6 3,001.3 3,000.0 2,939.5 2,818.1 . 13 14 Net interest and miscellaneous payments 665.8 644.1 542.1 608.2 515.7 414.5 329.7 289.5 14 15 Taxes on production and imports less subsidies 869.0 1,181.5 1,648.7 1,652.0 1,670.6 1,667.5 1,687.9 1,691.8 15 16 Business current transfer payments (net) 144.1 171.0 183.3 198.7 177.7 186.7 183.9 185.2 16 17 Current surplus of government enterprises -0.1 2.1 -3.4 -3.0 -6.4 -6.1 -4.4 6.9 17 Addenda: 18 Gross domestic income (GDI) 21,275.4 23,444.0 25,625.4 25,517.8 25,967.6 25,998.5 26,137.3 .. 18 19 Average of GDP and GDI 21,167.9 23,379.6 25,544.0 25,383.1 25,845.8 26,068.3 26,333.5 19 20 Statistical discrepancy as a percentage of GDP -1.0 -0.6 -0.6 -1.1 -0.9 0.5 1.5 20 Source: U.S. Bureau of Economic AnalysisJuly 27, 2023 Table 8. Personal Income and Its Disposition [Billions of dollars] Seasonally adjusted at annual rates Line 2020 2021 2022 2022 2023 Line Q2 Q3 Q4 Q1 Q2 1 Personal income 19,832.3 21,294.8 21,777.2 21,578.3 21,969.5 22,241.3 22,519.2 22,755.3 1 2 Compensation of employees 11,592.7 12,538.5 13,564.5 13,415.2 13,755.0 13,828.1 13,985.5 14,167.3 2 Wages and salaries 9,457.4 10,290.1 11,189.6 11,058.0 11,361.0 11,413.9 11,545.6 11,701.3 Supplements to wages and salaries 2,135.4 2,248.4 2,374.9 2,357.1 2,394.0 2,414.2 2,440.0 2,466.0 4 Proprietors' income with inventory valuation and capital consumption adjustments 1,643.1 1,753.6 1,848.3 1,835.4 1,863.5 1,882.9 1,909.5 1,905.6 5 6 Farm 45.2 51.3 91.7 95.7 95.9 100.9 96.7 86.0 6 Nonfarm 1,597.9 1,702.2 1,756.6 1,739.7 1,767.6 1,782.0 1,812.8 1,819.6 7 8 Rental income of persons with capital consumption adjustment 719.8 723.8 781.9 775.9 794.9 811.8 845.0 864.0 8 Personal income receipts on assets 3,095.4 3,202.4 3,343.9 3,323.0 3,358.8 3,424.0 3,452.6 3,494.5 9 10 Personal interest income 1,647.3 1,658.6 1,726.6 1,708.6 1,738.1 1,789.0 1,808.1 1,832.5 10 11 Personal dividend income 1,448.1 1,543.9 1,617.3 1,614.4 1,620.7 1,635.0 1,644.5 1,662.1 11 12 Personal current transfer receipts 4,231.2 4,617.3 3,910.7 3,8832 3,892.8 3,998.2 4,057.5 4,073.8 12 13 Less: Contributions for government social insurance, domestic 1,450.0 1,540.8 1,672.1 1,654.4 1,695.6 1,703.7 1,730.8 1,749.9 13 14 Less: Personal current taxes 2,236.4 2,661.7 3,196.6 3,188.5 3,236.5 3,216.2 2,906.2 2,894.0 14 15 Equals: Disposable personal income 17,595.9 18,633.1 18,580.6 18,389.8 18,733.0 19,025.1 19,613.1 19,861.3 15 16 Less: Personal outlays 14,603.6 16,389.8 17,922.5 17,798.7 18,124.5 18,377.2 18,772.2 18,991.7 16 17 Equals: Personal saving 2,992.3 2,243.4 658.1 591.1 608.5 647.9 840.9 869.5 17 18 Personal saving as a percentage of disposable personal income 17.0 12.0 3.5 3.2 3.2 3.4 4.3 4.4 18 Addenda: 19 Personal income excluding current transfer receipts, billions of chained (2012) dollars 14,036.8 14,424.3 14,544.9 14,453.7 14,610.2 14,609.8 14,636.8 14,715.2 19 20 Disposable personal income, billions of chained (2012) dollars 15,831.6 16,115.7 15,126.3 15,021.2 15,140.6 15,236.1 15,549.6 15,644.4 20 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 Analysis1. Create the table that contains the following information for the most recent quarter where data required for this exercise is available. Please note that using the data for previous years and/or previous estimates will produce grade zero for this part of the project. Omit the intermediate lines found in Tables 7 and 8 on the web site. Gross domestic product Gross national product Net national product (you should calculate it as Gross national product minus Consumption of fixed capital) National income Personal income Personal Disposable Income Personal Savings