March 28, 2024 Table 3. Gross Domestic Product: Level and Change from Preceding Period--Continues Billions of dollars Billions of chained (2017) dollars Change from preceding Seasonally adjusted at annual rates Seasonally adjusted at annual rates period Line Line 2023 2023 2023 2022 2023 2022 2023 2023 Q4' Q4 Q2 Q3 03 04 Q2 Q1 27,360.9 26,408.4 26.813.6 27,063.0 27,610.1 27,957.0 22,376.9 21 990.0 22,112.3 22,225.4 22,490.7 22 679.3 554.9 265.3 186.6 1 Gross domestic product (GDP] 18,570 6 17,917.0 18,269.6 18.419.0 18,679.5 18,914.5 15,426.1 15.171.4 15,312.9 15,343.6 15,461.4 15,566.7 335.3 117.8 125.3 Personal consumption expenditures 106.2 63.9 39.9 Good 6,191.5 6,047.6 6.133.8 6,1447 6,231 8 6,255.7 5.387.7 5.275.2 5,3410 5,347.3 5,411.3 5.451.1 2,196.6 2,129.0 2,194.9 2,193.6 2,204.5 2,202.2 2,041.9 1,957.5 2,0225 2,020.9 2,053.9 2,070.1 B1.9 33.0 16.2 Durable goods 764 6 756.4 601.7 572.5 614.1 599.6 597.8 595.3 29.1 -1.8 -2.5 Motor vehicles and parts 768.0 733.9 776.2 7727 Furnishings and durable 483.0 475.4 478.9 475.7 416.9 411.8 413.6 413.6 419.2 421.0 1.9 5.7 1.8 6 household equipment 478.3 478.0 676.4 689.7 693.5 778.4 727.7 744.5 764.5 795.0 809.5 53.6 30.5 14.5 7 Recreational goods and vehicles 681.6 653.0 666.7 6.2 Other durable goods 271 0 264.1 268.8 269.1 271.3 274.5 277.9 274.1 274.8 273.7 275.5 284.6 0.0 3,992.7 3,918.6 3,939.0 3,951.1 4,027 3 4,053.5 3,355.4 3,329.7 3,9278 3,335.4 3,367.3 3,391.1 27.9 31.8 25.8 Nondurable goods Food and beverages purchased 1,442.3 1,428.9 1,430.6 1,434.1 1,447 8 1,456.6 1,151.1 1,155.0 1,1458 1,148.5 1,153.9 1,156.2 -16.7 5.4 2.3 10 or off-premises consumption 506.6 515.0 511.4 520 6 520.6 499.8 500.3 501 9 492.7 500.2 504.4 2.8 7.5 4.3 11 11 Clothing and footwear 516.9 313.0 319.8 319.0 322.4 74 -0.8 3.4 12 12 Gasoline and other energy goods 471.2 485.5 465.3 456.7 484 5 476.2 316.6 310.6 1,562.4 1,497.7 1,528.0 1,549.0 1,574 4 1,598.1 1,395.4 1,367.5 1,377 4 1,382.0 1,404.0 1,418.3 35.3 22.0 14.3 13 13 Other nondurable goods 230.1 55.6 35.4 14 14 Services 12,379.2 11,869.4 12 135.7 12,274.4 12,447.7 12,658.8 10,066.2 9 922.3 9,998 9 10,023.1 10,078.7 10.164.0 15 Household consumption 11,828.7 11,324.1 11,595.2 11,730.1 11,8907 12,098.9 9,664.5 9,505.9 9,597 0 9,622.9 9,675.8 9,762.2 251.4 52.9 36.4 15 expenditures (for services) 3,278.7 9,155.0 3,206.1 3,243.8 3,309 0 3,356.0 2,558.5 2,554.7 2,5458 2,550.0 2,568.7 2,569.5 94 18.7 0.8 16 16 Housing and utilities 137.8 49.4 17 Health care 2,999.6 2,851.7 2,929.5 2,9729 3,0091 3,087.0 2617.1 2,523.0 2,5840 2,600.0 2617.5 2,666.9 17.5 597.8 6040 619.4 469.0 465.9 464.2 468.2 469.3 474.2 0.4 1.1 4.9 18 Transportation services 604 2 582.4 595.5 574.8 585.3 587.4 590.7 591.3 21.5 3.3 0.6 19 19 Recreation services 716.3 677.0 702.7 709.3 722.3 730.8 588.7 1,367 4 1,298.6 1,393.5 1,347-1 1,977 8 1,411.2 1,054.8 1,095.9 1,0435 1,041.1 1,059.0 1,075.7 40.4 18.0 16.7 20 Food services and accommodations 15.5 3.5 -2.4 21 Financial services and insurance 1,321.9 1,273.0 1,298.0 1,3167 1,936.0 1,936.8 1,047.0 1,092.8 1,037 3 1,048.7 1,052.2 1,049.8 19.6 22 22 Other services 1,540.6 1,486.3 1,529.7 1,5425 1,532 6 1,557.7 1,340.3 1,325.0 1,3480 1,338.4 1,327.6 1,347.3 32.5 -10.7 Final consumption expenditures of nonprofit institutions serving 550.4 545.3 544.3 557.0 559.9 405.3 418.1 405.2 403.8 406.4 405.9 -18.4 2.6 -0.3 23 households 21.3 24 24 Gross output of nonprofit institutions 2,012 6 1,953.2 1,972.4 1,996.9 2,0196 2,062.5 1,642.4 1,634.7 1,633.1 1,635.7 1,639.7 1,661.0 29.2 Less: Receipts from sales of goods and services by nonprofit 1,462.4 1,407.9 1,431.9 1,4526 1,4626 1,502.6 1,240.5 1,218.0 1,2310 1,235.3 1,236.5 1,259.2 51.0 1.2 22.0 25 institutions 4,843.9 4,796.2 4725.8 4,780.3 4,9150 4,954.4 4.051.9 4.058.5 3,963.7 4,014.1 4,171.1 4118.7 -50.9 96.9 7.6 26 26 Groas private domestic investment 27 4,790.3 4,616.4 4.702.1 4,761.7 4,8130 4,834.3 3.964.8 3876.5 3,9059 3,955.9 3,931.3 4,016.0 25.5 25.4 34.7 27 Fixed investment 3,716.1 3,536.0 3,641.3 3,709.1 3,7306 3,783.5 3271.7 3,170.0 3,2145 3,272.7 3,284.5 3,314.9 140.1 11.8 30.3 28 28 Nonresidential 73.2 16.6 16.6 29 29 Structures 839.6 736.1 800.2 832.5 8496 876.6 626.1 558.4 596.6 619.3 635.9 652.5 3.4 30 30 1,381 4 1,357.1 1,368.7 1,390.4 1,382 6 1,383.9 1,245.9 1,249.5 1,2364 1,259.6 1,245.5 1,242.1 -14.1 Equipment 31 Information processing equipment 459.0 462.6 465.2 457.8 450.0 463.0 482.8 490.7 48916 482.0 473.3 486.3 -27.1 13.0 31 -3.1 -3.5 0.0 32 32 Industrial equipment 307 8 303.2 310.6 308.6 305.7 306.1 251.8 253.6 256.0 252.7 249.2 249.2 35.6 -1.2 -16.4 33 39 Transportation equipment 293.4 269.9 273.8 302.7 305.9 291.2 263.8 252.1 243.8 276.7 275.5 259.2 34 321.2 321.4 319.0 321.2 320.9 323.5 252.7 258.4 252 7 253.1 251.7 253.3 -9.4 -1.A 1.6 34 Other equipment 1,495 0 1,442.8 1,472.5 1,486.2 1,4982 1,523.0 1,395.7 1,372.1 1,3849 1,394.0 1,400.4 1,415.3 59.9 6.3 15.0 35 Intellectual property products 632.4 633.6 640.9 655.5 720.9 690.4 702 2 712.1 724.9 744.1 60.F 12.8 19.3 36 Softivare 640.6 616.3 745.5 755.1 603.4 602.8 604.9 605.1 601.7 602.0 0.3 37 Research and development 742.7 718.8 730.2 740.2 Entertainment, literary, 94.5 93 8 94.A 941 -0.3 -1.1 38 and artistic originals 111.6 107.7 109.9 1124 111.8 112.4 93.8 1,0526 1,0824 1,100.8 735.3 741.2 731-1 727.1 36.9 744.1 -87.4 11.9 5.2 39 39 Residential 1,074.2 1,082.5 1,060.8 1 43.7 1510 27 2 149 77.8 54.9 -84.4 62 8 -22.9 40 40 Change in private inventories 53.6 177.7 23.7 18 6 102.0 70.1 Farm -0.9 -16.3 -7.8 20 3.B -1.6 -1.1 -24 -1.5 0.2 -0.2 -2.8 14.1 -0.4 -2.6 41 64.5 194.0 31.5 16.6 98.3 71.7 45.1 154.8 28.8 14.8 78.5 58.4 -97.1 63.6 -20.0 42 NonfarmMarch 28, 2024 Table 3. Gross Domestic Product: Level and Change from Preceding Period-Table Ends Billions of dollars Billions of chained (2017) dollars Change from preceding Seasonally adjusted at annual rates Seasonally adjusted at annual rates period Line Line 2023 2023 2022 2023 202% 2029 2023 2023 01 Q1 02 Q4 04 04 02 Q3 04 03 43 Net exports of goods and services -798.7 -877.2 -825.7 -606.1 -779.2 -783.7 -926.1 -965.6 -935.1 -928.2 -930.7 -918.5 122.9 -2.5 12.1 43 3,027 2 3,013.8 3064.8 2,961.8 3,030.8 3,051.7 2,503.9 2484.1 2,525.4 2,464.7 2,497.3 2 528.2 64.3 $2.6 31.0 44 Exports Goods 2,031.3 2,046.9 2090.4 1,968.6 2,026.7 2,039.3 1,697.1 1,682.0 1,730.5 1,656.8 1,687.7 1,713.3 43.8 25.5 45 Services 996.0 966.9 974.4 993.2 1,004 0 1,012.4 810.1 605.6 798.5 810.7 812.8 818.4 20.1 2.0 5.6 46 -58.6 35.1 18.8 47 Imports 3,825.9 3,891.0 3890.5 3,767.9 3,810.0 3,835.4 3,432.0 3,449.6 3,460.5 3,392.9 3,426.0 3.446.8 3,171 8 9,163.0 3,158.5 3,058.0 3,107 5 9,123.1 2,838.7 2,838.6 2,8516 2,804.3 2,844.7 2854.1 -47.5 40.4 9.4 48 Goods Services 714.1 728.0 731.9 709.8 702 4 712.3 596.9 613.4 611.5 591.6 587.6 596.5 -10.1 -4.3 9.0 49 0 Government consumption expenditures and gross 43.6 50 investment 4,745.1 4,572.4 4.643.9 4,669.8 4,7948 4,871.8 3,819.7 3714.8 3758.8 3,789.6 3,843.4 3.687.0 149.3 53.6 Federal 1,771.7 1,691.8 1.730.6 1,744.3 1,791.9 1,820.0 1,480.7 1.444.5 1,462 8 1,466.9 1,492.3 1.501.0 59.9 25.4 6.7 51 51 National defense 994.7 956.2 968.7 978.9 1,009.1 1,022.0 827.5 811.5 8154 820.1 836.8 837.8 27.4 16.7 1.0 52 Consumption expenditures 777-1 743.6 760.0 764.9 789.1 794.4 637.2 622.1 630.8 632.1 644.7 641.3 19.6 12.6 -3.4 53 197.7 8.0 4.1 4.8 54 Gross investment 217.6 212.7 208.8 214.0 220.1 227.6 191.1 190.4 185.2 186.8 192.9 777_0 735.5 761.9 765.5 782 8 798.0 653.2 633.0 647 646.7 655.5 663.2 32.6 7.8 55 Nondefense 19.2 7.4 3.1 56 Consumption expenditures 552.1 524.3 543.0 542.3 557_2 565.7 454.5 443.2 452 8 449.1 456.5 459.6 Gross investment 225.0 211.2 218.9 223.2 225.6 232.3 199.6 190.4 195.3 198.6 199.8 204.7 13.7 19 4.9 57 2,973.4 2,850.6 2913.2 2,925.5 3,0029 3,051.8 2,339.2 2 270.8 2,296.5 2,323.0 2,351.4 2 385.9 89.6 34.5 58 state and local 2,423.5 2,986.5 2,399.1 2,388.3 2,4439 2,462.6 1,916.3 1,685.5 1,900.5 1,909.2 1,921.7 1,983.7 41.9 12.5 12.0 59 Consumption expenditures Gross investment 549.9 494.1 514.2 537.2 559.0 589.3 421.8 384.9 395.5 412.6 426.4 450.4 46.9 15.6 22.0 60 -106.9 -103.8 -107.2 -1025 -101.2 -116.8 61 61 Residual Addenda 09.6 102.7 b2 Gross domestic income (GDI) ' 26,870.7 26,198.2 26,485.4 26,625.7 26,969.7 27,402.0 21,976.0 21,814.9 21,841.7 21,866.2 21,969.0 22 229.0 260.1 62 184.0 224.3 63 63 Average of GDP and GDI 27,115.6 26,303.3 26,649.5 26,644.4 27,289.9 27,679.5 22, 176.4 21,902.4 21,9770 22,045.6 22,229.8 22,454.2 332.2 Final sales of domestic product 215.0 64 64 27,307 3 26,230.7 26,789.9 27,044.5 27,508.1 27,886.9 22,290.3 21,809.9 22,0543 22,167.1 22,362.5 22,577.5 629.2 195.4 Gross domestic purchases 26, 159 6 27,285.6 27,639.3 27,569.1 26,989 4 28,740.7 23,291.1 22,936.7 23,028 5 23,140.9 23,409.0 23,586.2 436.7 268.1 177.2 65 66 Final sales to domestic purchasers 26,106 0 27,107.9 27,615.6 27,850.5 28,287 3 28,670.6 23,204.2 22 755.3 22,970.4 23,082.6 23,280.0 23,453.9 511.9 197.3 209.9 66 67 Final sales to private domestic purchasers 23,360.9 22,535.5 22,971.7 23,180.7 23,492 5 23,798.8 19,390.3 19,047.2 19,218.1 19,298.9 19,442.1 19,602.2 360.3 143.2 160.0 67 554.9 265.3 186.6 65 68 GDP 27,360 9 26,408.4 26 813.6 27_063.0 27,610.1 27,957.0 22,376.9 21 990.0 22,112 3 22,225.4 22,490.7 22.679.3 69 Plus: Income receipts from the rest of 1,457.1 1,340.7 1,390.7 1,452.7 1,499 9 1,485.0 1,263.9 1,182.6 1,2154 1,265.2 1,297.1 1,278.0 140.1 31.9 -19.1 69 the world 70 Less: Income payments to the rest of the world 1,292.9 1,155.2 1,231.8 1,279.7 1,9358 1,324.2 1,121.7 1,019.1 1,0768 1,114.6 1,155.4 1,139.9 160.8 40.8 -15.5 70 535.8 257. 185.4 71 71 Equals: Gross national product 27,525.1 26,594.0 26 972.5 27 236.1 27,774 2 28,117.8 22,526.5 22 161.3 22,260.3 22,384.6 22,641.8 22 827.2 72 Net domestic product 22,775.1 21,978.1 22,306.2 22,506.0 22,9987 23,289.7 18,594.1 18,274.5 18,3703 18,4556 18,693.8 18,856.6 145.8 235.1 162.6 72 F Rewlbed 1. Real gross domestic Income lo gross domestic Income deflated by the Implicit price deflator for grows domestic product. Note. Users are cautioned that perdoulatly for components that exhibitrapid 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 to 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 Source: U.S. Bureau of Economic Analyst:a) 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. You need this information from both parts of the table 3- (nominal GDP (and its components) from left columns and real GDP (chained 2012 dollars) from the right part of the table 3). Omit the intermediate lines found in Table 3 on the web site. Gross domestic product Personal consumption expenditures Gross private domestic investment Net exports of goods and services Government consumption expenditures and gross investment b) Calculate the percentage (the proportion) of each category in nominal GDP and in real GDP. Using Nominal GDP: [Personal consumption expenditures /Nominal GDP]*100% [Gross private domestic investment/ Nominal GDP]*100% (Net exports of goods and services / Nominal GDP]*100% Government consumption expenditures and gross investment Nominal GDP] 100% And using Real GDP: Personal consumption expenditures / Real GDP]*100% [Gross private domestic investment/ Real]*100% (Net exports of goods and services / Real GDP]*100% [Government consumption expenditures and gross investment/ Real GDP]*100% Present the information that you received (a) and (b) as a table(s) in your project.2. Write a report (2 pages double - spaced), which contains an analysis of the results you received. In this report consider, but do not be limited to the following: 1. Why was the nominal GDP greater than the real GDP? By how much? 2. GDP is composed of a number of categories. What category makes up the largest portion of GDP? What category makes up the smallest portion of GDP? 3. What is "Gross private domestic investment"? What does gross private domestic investment measure? 4. What is "Net exports of goods and services"? Why it is negative? 5. In the left part of the table 3 (nominal GDP) find the category "National defense". How much was the National defense for the last quarter? Calculate percentage of National defense out of "Government consumption expenditures and gross investment". Calculate percentage of National defense out of GDP. 6. Please analyze and discuss the significance of the data that you received for this Data exercise. 7. Reflect on what you have learned from this exercise