Part 1: Expenditures Approach to Calculating GDP (weight 45% of the assignment grade) BEA estimates the nation's GDP for each year and each quarter. But new GDP statistics are released every month. Why? Because for each quarter, BEA estimates GDP three times. The advance estimate, coming about a month after the quarter's end, is an early look based on the best information available at that time. The second estimate and third estimate each incorporate additional source data that weren't available the month before, improving accuracy.( www.bea.gov). BEA publishes estimates of levels at annual rates (for most series) for ease of comparisons with related and historical data. For example, in its February 2, 2004 personal income and outlays release, BEA estimated that personal income for December 2003 was $9,335.8 billion at an annual rate. This is easily compared to BEA's estimates of personal income for the fourth quarter of 2003 ($9,312.6 billion, at an annual rate) and for the entire year of 2003 ($9,187.4 billion).(www.bea.gov). Published January 13, 2006 Complete the following exercise Visit the Bureau of Economic Analysis website at www.bea.gov. From the drop-down menu under "Data", click on "by Economics Account". Then click on "National"> "Gross Domestic Product > and "Full Release and Tables". (To find "Full Release and Tables" you need to scroll down the page to the section "Current Release". Use table 3 (Gross Domestic Product: Level and Change from Preceding Period). Tables are located at the end of the Release, so you need to scroll all the way down to the tables. The left columns are nominal GDP (and its components) and the right half represents real GDP (chained 2012 dollars). 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%

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.

12:28 UV INIAIInCAAIII COMIC in- 170- al'n- cl'n al'n . an'n. cyin 71'n. anin . ci'n . ann - V. IC U.UD - V. IU U.LC U. 1/ V.21 V. UY U . IU UV Source: U.S. Bureau of Economic Analysis - 8 9 of 17 October 26, 2023 Table 3. Gross Domestic Product: Level and Change from Preceding Period--Continues Billions of dollars Billions of chained (2017) dollars Seasonally adjusted at annual rates Seasonally adjusted at annual rates Change from preceding period Line Line 2022 2022 2022 2023 2022 2023 2023 2022 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q2 Q3 Gross domestic product (GDP) 25,744.1 25,994.6 26,408.4 26,813.6 27,063.0 27,623.5 21,822.0 21,851.1 21,990.0 22,112.3 22,225.4 22,491.6 414.3 113.0 266.2 17,511.7 17,684.2 17,917.0 18,269.6 18,419.0 18,734.3 15,090.8 15,127.4 15,171.4 15,312.9 15,343.6 15,494.2 372.6 30.7 150.7 2 Personal consumption expenditures 2 3 Good 5,997.0 6,046.8 6,047.6 6,133.8 6,144.7 6,230.0 5,281.5 5,275.7 5,275.2 5,341.0 5,347.3 5,410.4 15.6 6.3 3 63.0 2,128.9 2,143.1 2,129.0 2,194.9 2,193.6 2,209.2 1,960.0 1,962.3 1,957.5 2,022.5 2,020.9 2,058.4 -4. -1.7 37.5 4 Durable goods 20 5 Motor vehicles and parts 730.8 728.2 733.9 776.2 772.7 769.4 6 566.5 572.5 614.1 599.6 601.6 -40.8 -14.5 Furnishings and durable household equipment 477.4 482.2 478.0 483.0 4 475.4 480.6 413.0 413.0 411.8 413.6 413.6 420.8 -11.3 0.0 7.2 6 7 Recreational goods and vehicles 655.5 664.9 653.0 666.7 676.4 687.9 724.8 733.6 727.7 744.5 764.5 50.8 20.0 28.5 7 Other durable goods 265.2 264.1 268.8 269.1 1 271.3 277.8 280.5 274.1 274.8 273.7 278.4 11.3 -1.1 48 8 Nondurable goods 3,868.1 3,903.7 3,918.6 3,939.0 3,951.1 4,020.8 3,327.5 3,319.7 3,323.7 3,327.8 3,335.4 3,362.3 20.0 7.7 26.9 9 10 Food and beverages purchased or off-premises consumption ,393.5 1,409.2 1,428.9 9 1,430.6 1,434.1 1,448.5 1,167.8 1,158.8 1,155.0 1,145.8 1,148.5 1,154.5 .22.7 2.8 5.9 10 11 Clothing and footwear 500.7 505.9 506.6 515.0 511.4 521.2 497.0 499.4 500.3 501.9 492.7 500.7 8.5 -9.2 8.0 11 12 Gasoline and other energy goods 510.1 509.0 485.5 456.7 476.0 311.1 309.3 310.6 313.0 319.8 313.6 0.0 6.8 -6.3 12 13 Other nondurable goods 1,463.8 1,479.5 1,497.7 1,528.0 1,549.0 1,575.2 1,360.1 1,361.8 1,367.5 1,377.4 1,382.0 1,404.7 37.8 47 22.7 13 14 Services 11,514.7 11,637.4 11,869.4 12,135.7 12,274.4 12,504.3 9,836.1 9,878.2 9,922.3 9,998.9 10,023.1 10,111.7 352.7 24.2 88.6 14 15 Household consumption expenditures (for services) 10,982.6 11,092.8 11,324.1 11,595.2 11,730.1 11,953.0 9,413.1 9,449.4 9,505.9 9,597.0 9,622.9 9,710.5 334.1 25.8 87.6 15 16 Housing and utilities 3,053.3 3,081.1 3,155.0 3,206.1 3,243.8 3,313.6 2,549.1 2,544.5 2,554.7 2,545.8 2,550.0 2,572.4 27.7 4.2 22.4 16 17 Health care 2,776.7 2,792.8 2,851.7 2,929.5 2,972.9 3,012.3 2,479.3 2,484.4 2,523.0 2,584.0 2,600.0 2,619.6 74.1 16.1 19.5 17 18 Transportation services 562.2 573.1 582.4 595.5 597.8 607.7 468.6 470.4 465.9 464.2 468.2 471.6 41.8 4.0 3.4 18 19 Recreation services 654.9 658.5 702.7 709.3 720.8 567.2 567.6 574.8 585.3 587.4 589. 45.5 2.1 1.9 19 20 Food services and accommodations 1,237.2 1,263.9 1,298.6 1,333.5 1,347.1 1,372.9 1,014.5 1,030.7 1,035.9 1.043.5 1,041.1 1,055.3 84.8 -2.4 14.2 20 21 1,252.5 1,254.3 1,273.0 1,298.0 1,316.7 1,368.7 1,031.4 1,033.2 1,032.8 1,037.3 1,048.7 1,064.3 -18.2 11.4 Financial services and insurance 15.6 21 22 9.7 22 Other services 1,445.8 1,469.1 1,486.3 1,529.7 1,542.5 1,556.8 1,307.8 1,323.2 1,325.0 1,348.0 1,338.4 1,348.1 82.2 -96 23 Final consumption expenditures of nonprofit institutions serving households 532.1 544.6 6 545.3 540.5 544.3 551.3 423.8 429.4 418.1 405.2 403.8 405.1 18.5 -1.4 1.3 23 24 Gross output of nonprofit institutions 1,893.0 1,916.4 1,953.2 1,972.4 1,996.9 2,023.2 1,613.2 1,621.9 1,634.7 1,633.1 1,635.7 1,644.9 31.2 2.6 9.3 24 25 Less: Receipts from sales of goods and services by nonprofit institutions 1,360.9 1,371.8 1,407.9 1,431.9 1,452.6 1,471.9 1,189.5 1,192.3 1,218.0 1,231.0 1,235.3 1,243.4 12.1 4.3 8.2 25 50.4 26 Gross private domestic investment 4,756.6 4,724.6 4,796.2 4,725.8 4,780.3 4,899.3 4,102.8 4,024.8 4,058.5 3,963.7 4,014.1 4,096.1 188.4 81.9 26 27 Fixed investment 4,599.3 4,642.3 4,618.4 4,702.1 4,761.7 4,794.2 3,939.3 3,930.9 3,876.5 3,905.9 3,955.9 3,963.7 52.0 50.0 7.8 27 Nonresidential 3,433.0 3,493.1 3,536.0 3,641.3 3,709.1 3,718.0 3,131.6 3,156.3 3,170.0 3,214.5 3,272.7 3,272.1 156.1 58.2 -0.7 28 28 29 Structures 700.5 712.6 736.1 800.2 832.5 832.1 552.9 558.4 596.6 619.3 621.7 -11.9 22.7 2.4 29 30 Equipment 1,327.2 1,355.0 1,357.1 1,368.7 1,390.4 1,384.4 1,249.2 1,265.5 1,249.5 1,236.4 1,259.6 1,247.4 61.8 23.2 -12.2 30 31 Information processing equipment 479.3 486.7 462.6 465.2 457.8 452.0 509.9 517.4 490.7 489.6 482.0 475.3 36.1 -7.6 -6.6 31 32 Industrial equipment 300.0 299.0 303.2 310.6 308.6 307.1 254.8 251.4 253.6 256.0 252.7 250.6 8.9 -3.3 -2.1 32 33 Transportation equipment 232.0 247.8 269.9 273.8 302.7 306.2 228.2 242.1 252.1 243.8 276.7 275.8 2.5 32.9 -1.0 33 34 Other equipment 315.9 321.5 321.4 319.0 321.2 3 319.1 262.1 262.4 258.4 252.7 253.1 250.3 15.4 0.4 -2.7 34 35 Intellectual property products 1,405.4 1,425.6 1,442.8 1,472.5 1,486.2 1,501.6 1,338.7 1,351.9 1,372.1 1,384.9 1,394.0 1,403.0 112.1 9.2 8.9 35 36 Software 598.1 609.1 616.3 632.4 633.6 638.0 660.2 668.1 690.4 702.2 712.1 720.9 78.3 9.9 8.8 36 37 Research and development 703.1 708.8 718.8 730.2 740.2 751.2 597.7 601.0 602.8 604.9 605.1 606.4 32.2 0.2 1.2 37 Entertainment, literary, and artistic originals 104.1 107.7 107.7 109.9 112.4 112.3 92.0 94.4 93.5 93.8 94.4 94.6 7.4 0.0 0.2 38 39 Residential .166.4 1,149.1 1,082.5 1,060.8 1,052.6 1,076.2 822.6 796.3 741.2 731.1 727.1 734.0 -81.2 -4.0 7.0 39 40 Change in private inventories 157.3 82.3 177.7 23.7 18.6 105.2 128.1 70.7 151.9 27.2 14.9 80.6 115.5 -12.2 65.6 40 41 Farm -19.5 -22.1 -16.3 -7.8 2.0 4.6 -15.2 -15.9 -2.4 -1.5 0.2 0.0 -12.9 1.7 -0.2 41 42 Nonfarm 176.8 104.4 194.0 31.5 16.6 100.6 142.2 85.5 154.8 28.8 14.8 81.1 127.7 -14.0 66.2 42 . Real gross domestic income is gross d flated by the impli omestic product. Note. Users are cautioned that partic s relative to other prices in the economy, the chained-dollar es ce or its contribution to the growth rate of more aggregate series. For accurate estimates of the contributions to percent changes in real gross domestic product, use table 2. Source: U.S. Bureau of Economic Analysis - 9 - October 26, 2023 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 Line period Line 2022 2022 2022 2023 2022 2023 2023 2022 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 02 03 43 Net exports of goods and services -971.1 -892.0 -877.2 -825.7 -806.1 -784.6 -1,051.0 -981.2 -965.6 -935.1 -928.2 -937.7 -117.2 6.9 -9.5 43 158.7 -60.7 44 Exports 2,995.0 3,084.5 3,013.8 3,064.8 2,961.8 3,036.9 2,439.6 2,506.2 2,484.1 2,525.4 2,464.7 2,502.3 37.6 44 45 Goods 2,063.2 2,139.9 2,046.9 2,090.4 1,968.6 2,025.9 1,653.3 1,709.7 1,682.0 1,730.5 1,656.8 1,687.2 90.1 -73.7 30.4 45 46 Services 931.8 944.6 966.9 974.4 993.2 1,010.9 79 790.0 799.6 805.6 810.7 818.1 69.4 12.2 7.4 46 47 Imports 3,966.2 3,976.5 3,891.0 3,890.5 3,767.9 3,821.4 3,490.6 3,487.4 3,449.6 3,460.5 3,392.9 3,439.9 276.0 -67.6 47.1 47 48 Goods 3,262.4 3,254.0 3,163.0 3,158.5 3,058.0 3,108.7 2,886.2 2,870.3 2,838.6 2,851.6 2,804.3 2,844.6 184.4 -47.3 40.3 48 49 Services 703.8 722.5 728.0 731.9 709.8 712.7 7607.0 619.5 613.4 6 591.8 598.7 90.4 -19.7 6.9 49 50 Government consumption expenditures and gross investment 4,446.8 4,477.9 4,572.4 4,643.9 4,669.8 4,774.5 3,670.4 3,667.0 3,714.8 3,758.8 3,789.8 3,832.6 -34.3 31.0 42.8 50 51 Federal 1,635.5 1,636.3 1,691.8 1,730.6 1,744.3 1,790.2 1,420.9 1,411.2 1,444.5 1,462.8 1,466.9 1,488.9 -41.5 4.1 22.1 51 52 National defense 928.4 930.4 956.2 968.7 978.9 1,008.1 800.1 796.6 811.5 815.4 820.1 836.0 -22.9 4.7 15.8 52 bea.gov C12:28 UV INIAIInCAAIII COMIC in- 170- al'n- cl'n al'n . an'n. cyin 71'n. anin . ci'n . ann - V. IC U.UD - V. IU U.LC U. 1/ V.21 V. UY U . IU UV Source: U.S. Bureau of Economic Analysis - 8 9 of 17 October 26, 2023 Table 3. Gross Domestic Product: Level and Change from Preceding Period--Continues Billions of dollars Billions of chained (2017) dollars Seasonally adjusted at annual rates Seasonally adjusted at annual rates Change from preceding period Line Line 2022 2022 2022 2023 2022 2023 2023 2022 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q2 Q3 Gross domestic product (GDP) 25,744.1 25,994.6 26,408.4 26,813.6 27,063.0 27,623.5 21,822.0 21,851.1 21,990.0 22,112.3 22,225.4 22,491.6 414.3 113.0 266.2 17,511.7 17,684.2 17,917.0 18,269.6 18,419.0 18,734.3 15,090.8 15,127.4 15,171.4 15,312.9 15,343.6 15,494.2 372.6 30.7 150.7 2 Personal consumption expenditures 2 3 Good 5,997.0 6,046.8 6,047.6 6,133.8 6,144.7 6,230.0 5,281.5 5,275.7 5,275.2 5,341.0 5,347.3 5,410.4 15.6 6.3 3 63.0 2,128.9 2,143.1 2,129.0 2,194.9 2,193.6 2,209.2 1,960.0 1,962.3 1,957.5 2,022.5 2,020.9 2,058.4 -4. -1.7 37.5 4 Durable goods 20 5 Motor vehicles and parts 730.8 728.2 733.9 776.2 772.7 769.4 6 566.5 572.5 614.1 599.6 601.6 -40.8 -14.5 Furnishings and durable household equipment 477.4 482.2 478.0 483.0 4 475.4 480.6 413.0 413.0 411.8 413.6 413.6 420.8 -11.3 0.0 7.2 6 7 Recreational goods and vehicles 655.5 664.9 653.0 666.7 676.4 687.9 724.8 733.6 727.7 744.5 764.5 50.8 20.0 28.5 7 Other durable goods 265.2 264.1 268.8 269.1 1 271.3 277.8 280.5 274.1 274.8 273.7 278.4 11.3 -1.1 48 8 Nondurable goods 3,868.1 3,903.7 3,918.6 3,939.0 3,951.1 4,020.8 3,327.5 3,319.7 3,323.7 3,327.8 3,335.4 3,362.3 20.0 7.7 26.9 9 10 Food and beverages purchased or off-premises consumption ,393.5 1,409.2 1,428.9 9 1,430.6 1,434.1 1,448.5 1,167.8 1,158.8 1,155.0 1,145.8 1,148.5 1,154.5 .22.7 2.8 5.9 10 11 Clothing and footwear 500.7 505.9 506.6 515.0 511.4 521.2 497.0 499.4 500.3 501.9 492.7 500.7 8.5 -9.2 8.0 11 12 Gasoline and other energy goods 510.1 509.0 485.5 456.7 476.0 311.1 309.3 310.6 313.0 319.8 313.6 0.0 6.8 -6.3 12 13 Other nondurable goods 1,463.8 1,479.5 1,497.7 1,528.0 1,549.0 1,575.2 1,360.1 1,361.8 1,367.5 1,377.4 1,382.0 1,404.7 37.8 47 22.7 13 14 Services 11,514.7 11,637.4 11,869.4 12,135.7 12,274.4 12,504.3 9,836.1 9,878.2 9,922.3 9,998.9 10,023.1 10,111.7 352.7 24.2 88.6 14 15 Household consumption expenditures (for services) 10,982.6 11,092.8 11,324.1 11,595.2 11,730.1 11,953.0 9,413.1 9,449.4 9,505.9 9,597.0 9,622.9 9,710.5 334.1 25.8 87.6 15 16 Housing and utilities 3,053.3 3,081.1 3,155.0 3,206.1 3,243.8 3,313.6 2,549.1 2,544.5 2,554.7 2,545.8 2,550.0 2,572.4 27.7 4.2 22.4 16 17 Health care 2,776.7 2,792.8 2,851.7 2,929.5 2,972.9 3,012.3 2,479.3 2,484.4 2,523.0 2,584.0 2,600.0 2,619.6 74.1 16.1 19.5 17 18 Transportation services 562.2 573.1 582.4 595.5 597.8 607.7 468.6 470.4 465.9 464.2 468.2 471.6 41.8 4.0 3.4 18 19 Recreation services 654.9 658.5 702.7 709.3 720.8 567.2 567.6 574.8 585.3 587.4 589. 45.5 2.1 1.9 19 20 Food services and accommodations 1,237.2 1,263.9 1,298.6 1,333.5 1,347.1 1,372.9 1,014.5 1,030.7 1,035.9 1.043.5 1,041.1 1,055.3 84.8 -2.4 14.2 20 21 1,252.5 1,254.3 1,273.0 1,298.0 1,316.7 1,368.7 1,031.4 1,033.2 1,032.8 1,037.3 1,048.7 1,064.3 -18.2 11.4 Financial services and insurance 15.6 21 22 9.7 22 Other services 1,445.8 1,469.1 1,486.3 1,529.7 1,542.5 1,556.8 1,307.8 1,323.2 1,325.0 1,348.0 1,338.4 1,348.1 82.2 -96 23 Final consumption expenditures of nonprofit institutions serving households 532.1 544.6 6 545.3 540.5 544.3 551.3 423.8 429.4 418.1 405.2 403.8 405.1 18.5 -1.4 1.3 23 24 Gross output of nonprofit institutions 1,893.0 1,916.4 1,953.2 1,972.4 1,996.9 2,023.2 1,613.2 1,621.9 1,634.7 1,633.1 1,635.7 1,644.9 31.2 2.6 9.3 24 25 Less: Receipts from sales of goods and services by nonprofit institutions 1,360.9 1,371.8 1,407.9 1,431.9 1,452.6 1,471.9 1,189.5 1,192.3 1,218.0 1,231.0 1,235.3 1,243.4 12.1 4.3 8.2 25 50.4 26 Gross private domestic investment 4,756.6 4,724.6 4,796.2 4,725.8 4,780.3 4,899.3 4,102.8 4,024.8 4,058.5 3,963.7 4,014.1 4,096.1 188.4 81.9 26 27 Fixed investment 4,599.3 4,642.3 4,618.4 4,702.1 4,761.7 4,794.2 3,939.3 3,930.9 3,876.5 3,905.9 3,955.9 3,963.7 52.0 50.0 7.8 27 Nonresidential 3,433.0 3,493.1 3,536.0 3,641.3 3,709.1 3,718.0 3,131.6 3,156.3 3,170.0 3,214.5 3,272.7 3,272.1 156.1 58.2 -0.7 28 28 29 Structures 700.5 712.6 736.1 800.2 832.5 832.1 552.9 558.4 596.6 619.3 621.7 -11.9 22.7 2.4 29 30 Equipment 1,327.2 1,355.0 1,357.1 1,368.7 1,390.4 1,384.4 1,249.2 1,265.5 1,249.5 1,236.4 1,259.6 1,247.4 61.8 23.2 -12.2 30 31 Information processing equipment 479.3 486.7 462.6 465.2 457.8 452.0 509.9 517.4 490.7 489.6 482.0 475.3 36.1 -7.6 -6.6 31 32 Industrial equipment 300.0 299.0 303.2 310.6 308.6 307.1 254.8 251.4 253.6 256.0 252.7 250.6 8.9 -3.3 -2.1 32 33 Transportation equipment 232.0 247.8 269.9 273.8 302.7 306.2 228.2 242.1 252.1 243.8 276.7 275.8 2.5 32.9 -1.0 33 34 Other equipment 315.9 321.5 321.4 319.0 321.2 3 319.1 262.1 262.4 258.4 252.7 253.1 250.3 15.4 0.4 -2.7 34 35 Intellectual property products 1,405.4 1,425.6 1,442.8 1,472.5 1,486.2 1,501.6 1,338.7 1,351.9 1,372.1 1,384.9 1,394.0 1,403.0 112.1 9.2 8.9 35 36 Software 598.1 609.1 616.3 632.4 633.6 638.0 660.2 668.1 690.4 702.2 712.1 720.9 78.3 9.9 8.8 36 37 Research and development 703.1 708.8 718.8 730.2 740.2 751.2 597.7 601.0 602.8 604.9 605.1 606.4 32.2 0.2 1.2 37 Entertainment, literary, and artistic originals 104.1 107.7 107.7 109.9 112.4 112.3 92.0 94.4 93.5 93.8 94.4 94.6 7.4 0.0 0.2 38 39 Residential .166.4 1,149.1 1,082.5 1,060.8 1,052.6 1,076.2 822.6 796.3 741.2 731.1 727.1 734.0 -81.2 -4.0 7.0 39 40 Change in private inventories 157.3 82.3 177.7 23.7 18.6 105.2 128.1 70.7 151.9 27.2 14.9 80.6 115.5 -12.2 65.6 40 41 Farm -19.5 -22.1 -16.3 -7.8 2.0 4.6 -15.2 -15.9 -2.4 -1.5 0.2 0.0 -12.9 1.7 -0.2 41 42 Nonfarm 176.8 104.4 194.0 31.5 16.6 100.6 142.2 85.5 154.8 28.8 14.8 81.1 127.7 -14.0 66.2 42 . Real gross domestic income is gross d flated by the impli omestic product. Note. Users are cautioned that partic s relative to other prices in the economy, the chained-dollar es ce or its contribution to the growth rate of more aggregate series. For accurate estimates of the contributions to percent changes in real gross domestic product, use table 2. Source: U.S. Bureau of Economic Analysis - 9 - October 26, 2023 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 Line period Line 2022 2022 2022 2023 2022 2023 2023 2022 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 02 03 43 Net exports of goods and services -971.1 -892.0 -877.2 -825.7 -806.1 -784.6 -1,051.0 -981.2 -965.6 -935.1 -928.2 -937.7 -117.2 6.9 -9.5 43 158.7 -60.7 44 Exports 2,995.0 3,084.5 3,013.8 3,064.8 2,961.8 3,036.9 2,439.6 2,506.2 2,484.1 2,525.4 2,464.7 2,502.3 37.6 44 45 Goods 2,063.2 2,139.9 2,046.9 2,090.4 1,968.6 2,025.9 1,653.3 1,709.7 1,682.0 1,730.5 1,656.8 1,687.2 90.1 -73.7 30.4 45 46 Services 931.8 944.6 966.9 974.4 993.2 1,010.9 79 790.0 799.6 805.6 810.7 818.1 69.4 12.2 7.4 46 47 Imports 3,966.2 3,976.5 3,891.0 3,890.5 3,767.9 3,821.4 3,490.6 3,487.4 3,449.6 3,460.5 3,392.9 3,439.9 276.0 -67.6 47.1 47 48 Goods 3,262.4 3,254.0 3,163.0 3,158.5 3,058.0 3,108.7 2,886.2 2,870.3 2,838.6 2,851.6 2,804.3 2,844.6 184.4 -47.3 40.3 48 49 Services 703.8 722.5 728.0 731.9 709.8 712.7 7607.0 619.5 613.4 6 591.8 598.7 90.4 -19.7 6.9 49 50 Government consumption expenditures and gross investment 4,446.8 4,477.9 4,572.4 4,643.9 4,669.8 4,774.5 3,670.4 3,667.0 3,714.8 3,758.8 3,789.8 3,832.6 -34.3 31.0 42.8 50 51 Federal 1,635.5 1,636.3 1,691.8 1,730.6 1,744.3 1,790.2 1,420.9 1,411.2 1,444.5 1,462.8 1,466.9 1,488.9 -41.5 4.1 22.1 51 52 National defense 928.4 930.4 956.2 968.7 978.9 1,008.1 800.1 796.6 811.5 815.4 820.1 836.0 -22.9 4.7 15.8 52 bea.gov C12:28 9 321.5 321.4 319.0 321.2 319.1 262.1 262.4 258.4 252.7 253.1 250.3 15.4 0.4 Other equipment -2.7 34 34 1,405.4 1,425.6 1,442.8 1,472.5 1,486.2 1,501.6 1,338.7 1,351.9 1,372.1 1,384.9 1,394.0 1,403.0 112.1 9.2 8.9 35 Intellectual property products 78. 9.9 8.8 36 Software 598.1 609.1 616.3 632.4 6 633.6 638.0 660.2 668.1 690.4 702.2 712.1 32.2 02 1.2 37 703.1 718.8 730.2 740.2 751.2 597.7 601.0 602.8 604.9 605.1 606.4 10 of 17 104.1 107.7 107.7 109.9 112.4 112.3 92.0 94.4 93.5 93.8 94.4 94. 7.4 0.6 0.2 38 1,166.4 1,149.1 1,082.5 1,060.8 1,052.6 1,076.2 822.6 796.3 741.2 731.1 727.1 734.0 -81.2 4.0 7.0 39 70.7 151.9 27.2 14.9 80.6 115.5 -12.2 65.6 40 40 Change in private inventories 157.3 82.3 177.7 23.7 18.6 105.2 128.1 41 -19.5 -22.1 -16.3 -7.8 20 4.6 -15.2 -15.9 -24 15 02 0.0 -12.9 1.7 -0.2 41 Farm 28.8 14.8 81.1 127.7 -14.0 6.2 42 42 Nonfarm 176.8 104.4 194.0 31.5 100.6 142.2 85.5 154.8 . Real gross domestic income is gross domestic income deflated by the implicit pr rice deflator for gross domestic product. Note. Users are cautioned that particularly for components that exhibit rapid change in prices relative to other prices in the economy, the chained-dollar estimates sh mportance or its contribution to the growth rate of more aggregate series. For accurate estimates of the contributions to percent changes in real gross domestic product, use table 2. Source: U.S. Bureau of Economic Analysis - 9. October 26, 2023 Table 3. Gross Domestic Product: Level and Change from Preceding Period--Table Ends Billions of dollars Billions of chained (2017) dollars Seasonally adjusted at annual rates Change from preceding Seasonally adjusted at annual rates period Line Line 2022 2022 2022 2023 2022 2023 2023 2022 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 03 -928.2 -937.7 -117.2 6.9 43 Net exports of goods and services -971.1 -892.0 -877.2 -825.7 -806.1 -784.6 -1,051.0 -981.2 -965.6 -935.1 -9.5 43 2,995.0 3,084.5 3,013.8 3,064.8 2,961.8 3,036.9 2,439.6 2,506.2 2,484.1 2,525.4 2,464.7 2,502.3 158.7 -60.7 37.6 44 44 Exports 90.1 -73.7 30.4 45 45 Goods 2,063.2 2,139.9 2,046.9 2,090.4 1,968.6 2,025.9 1,653.3 1,709.7 1,682.0 1,730.5 1,656.8 1,687.2 46 Services 931.8 944.6 966.9 974.4 993.2 1,010.9 790.0 799.6 805.6 7 810.7 818.1 69.4 12.2 7.4 46 -67.6 47.1 47 47 Imports 3,966.2 3,976.5 3,891.0 3,890.5 3,767.9 3,821.4 3,490.6 3,487.4 3,449.6 3,460.5 3,392.9 3,439.9 276.0 184.4 -47.3 40.3 48 48 Goods 3,262.4 3,254.0 3,163.0 3,158.5 3,058.0 3,108.7 2,886.2 2,870.3 2,838.6 2,851.6 2,804.3 2,844.6 90.4 -19.7 6.9 49 49 Services 703.8 722.5 728.0 731.9 709.8 712.7 607.0 619.5 613.4 611.5 591.8 5 50 Government consumption expenditures and gross -34.3 31.0 42.8 50 investment 4,446.8 4,477.9 4,572.4 4,643.9 4,669.8 4,774.5 3,670.4 3,667.0 3,714.8 3,758.8 3,789.8 3,832.6 1,635.5 1,636.3 1,691.8 1,730.6 1,744.3 1,790.2 1,420.9 1,411.2 1,444.5 1,462.8 1,466.9 1,488.9 .41.5 22.1 51 51 Federal 52 National defense 928.4 930.4 956.2 968.7 978.9 1,008.1 800.1 811.5 815.4 820.1 836.0 -22.9 4.7 15.8 52 53 Consumption expenditures 726.0 731.8 743.6 760.0 764.9 788.1 617.6 618.3 622.1 630.8 632.1 644.1 -26.3 1.3 12.0 53 188.8 192.7 3.8 3.6 3.9 54 54 Gross investment 202.4 198.6 212.7 208.8 214.0 220.0 183.2 178.8 190.4 185.2 55 Nondefense 707.1 705.9 735.5 761.9 765.5 782.1 620.6 614.5 633.0 647.4 646.7 653.0 -18.6 -0.7 6.2 55 556.1 435.3 429.4 443.2 452.8 449.1 454.0 -25.4 -37 4.9 56 56 Consumption expenditures 603.0 500.5 524.3 543.0 542.3 3.2 1.3 57 57 Gross investment 204.1 205.4 211.2 218.9 223.2 226.0 185.9 185.9 190.4 195.3 198.6 199.9 7.4 5.3 26.5 58 State and loca 2,811.3 2,841.5 2,880.6 2,913.2 2,925.5 2,984.3 2,249.6 2,255.1 2,270.8 2,296.5 2,323.0 2,344.0 21.1 58 2,341.1 2,363.2 2,386.5 2,399.1 2,388.3 2,434.7 1,874.4 1,878.5 1,885.5 1,900.5 1,909.2 1,921.6 23.3 8.7 12.4 59 59 Consumption expenditures 470.2 478.4 494.1 514.2 549.6 374.9 376.3 384.9 395.5 4 412.8 421.3 -18.1 17.4 8.5 60 60 Gross investment 61 Residual -72.0 -103.8 -107.2 -102.5 -104.0 61 Addenda: 25,796.4 26,149.7 26,198.2 26,485.4 26,643.3 21,866.4 21,981.4 21,814.9 21,841.7 21,880.7 453.7 39.0 62 62 Gross domestic income (GDI) 25,770.3 26,072.2 26,303.3 26,649.5 26,853.2 .. 21,844.2 21,916.3 21,902.4 21,977.0 22,053.0 .. 434.0 76.0 63 63 Average of GDP and GDI 64 Final sales of domestic product 25,586.8 25,912.3 26,230.7 26,789.9 27,044.5 27,518.4 21,661.2 21,758.5 21,809.9 22,054.3 22,167.1 22,360.6 280.6 112.9 193.5 64 65 Gross domestic purchases 26,715.2 26,886.7 27,285.6 27,639.3 27,869.1 28,408.1 22,854.4 22,809.8 22,936.7 23,028.5 23,140.9 23,415.9 521.1 112.4 275.0 65 112.2 201.5 66 66 Final sales to domestic purchasers 26,557.9 26,804.3 27,107.9 27,615.6 27,850.5 28,303.0 22,692.4 22,716.7 22,755.3 22,970.4 23,082.6 23,284.1 386.2 1 67 Final sales to private domestic purchasers 22,111.1 22,326.5 22,535.5 22,971.7 23,180.7 23,528.5 19,030.0 19,058.1 19.047.2 19,218.1 19,298.9 19,457.3 424.6 80.9 158.4 67 68 GDP 25,744.1 25,994.6 26,408.4 26,813.6 27,063.0 27,623.5 21,822.0 21,851.1 21,990.0 22,112.3 22,225.4 22,491.6 414.3 1 113.0 266.2 68 69 Plus: Income receipts from the rest of 1,123.8 1,144.7 1,182.6 1,215.4 1,265.2 58.2 69 the world 1,252.6 1,285.5 1,340.7 1,390.7 1,452.7 . 49.7 70 Less: Income payments to the rest of the world 1,070.7 1,094.3 1,155.2 1,231.8 1,279.7 960.9 974.6 1,019.1 1,076.8 1,114.6 71.3 37.9 .. 70 25,926.0 26,185.9 26,594.0 26,972.5 27,236.1 . ... 21,992.7 22,028.6 22,161.3 22,260.3 22,384.6... 402.3 124.3 ... 71 71 Equals: Gross national product 21,444.2 21,626.5 21,978.1 22,306.2 22,506.0 23,004.6 18,148.3 18,163.2 18,274.5 18,370.3 18,455.6 18,696.8 303.4 85.3 241.2 72 72 Net domestic product 1. Real gross domestic income is gross d 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 compo nent's relative importance or its contribution to the growth rate of more aggregate series. For accurate estimates of the contributions to percent changes in real gross domestic product, use table 2. Source: U.S. Bureau of Economic Analysis - 10 - October 26, 2023 Table 4. Price Indexes for Gross Domestic Product and Related Measures: Percent Change from Preceding Period Seasonally adjusted at annual rates 2020 2021 2022 2019 2020 2022 Line Line 2021 2023 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Gross domestic product (GDP) 1.3 4.6 7.1 1.4 1.8 -1.4 3.6 2.8 5.4 6.1 6.1 7.0 8.5 9.1 4.4 3.9 3.9 1.7 3.5 1 2 Personal consumption expenditures 1.1 4.2 6.5 1.6 1.3 -1.7 3.3 2.0 4.8 6.3 5.6 6.8 7.7 7.2 4.7 4.1 4.2 2.5 2.9 2 5 8.5 7.7 10.5 11.9 9.9 2.9 0.1 0.7 0.2 0.8 3 3 Goods -0.8 4.9 8.6 0.5 -1.2 -5.8 An CP an bea.gov12:28 9 321.5 321.4 319.0 321.2 319.1 262.1 262.4 258.4 252.7 253.1 250.3 15.4 0.4 Other equipment -2.7 34 34 1,405.4 1,425.6 1,442.8 1,472.5 1,486.2 1,501.6 1,338.7 1,351.9 1,372.1 1,384.9 1,394.0 1,403.0 112.1 9.2 8.9 35 Intellectual property products 78. 9.9 8.8 36 Software 598.1 609.1 616.3 632.4 6 633.6 638.0 660.2 668.1 690.4 702.2 712.1 32.2 02 1.2 37 703.1 718.8 730.2 740.2 751.2 597.7 601.0 602.8 604.9 605.1 606.4 10 of 17 104.1 107.7 107.7 109.9 112.4 112.3 92.0 94.4 93.5 93.8 94.4 94. 7.4 0.6 0.2 38 1,166.4 1,149.1 1,082.5 1,060.8 1,052.6 1,076.2 822.6 796.3 741.2 731.1 727.1 734.0 -81.2 4.0 7.0 39 70.7 151.9 27.2 14.9 80.6 115.5 -12.2 65.6 40 40 Change in private inventories 157.3 82.3 177.7 23.7 18.6 105.2 128.1 41 -19.5 -22.1 -16.3 -7.8 20 4.6 -15.2 -15.9 -24 15 02 0.0 -12.9 1.7 -0.2 41 Farm 28.8 14.8 81.1 127.7 -14.0 6.2 42 42 Nonfarm 176.8 104.4 194.0 31.5 100.6 142.2 85.5 154.8 . Real gross domestic income is gross domestic income deflated by the implicit pr rice deflator for gross domestic product. Note. Users are cautioned that particularly for components that exhibit rapid change in prices relative to other prices in the economy, the chained-dollar estimates sh mportance or its contribution to the growth rate of more aggregate series. For accurate estimates of the contributions to percent changes in real gross domestic product, use table 2. Source: U.S. Bureau of Economic Analysis - 9. October 26, 2023 Table 3. Gross Domestic Product: Level and Change from Preceding Period--Table Ends Billions of dollars Billions of chained (2017) dollars Seasonally adjusted at annual rates Change from preceding Seasonally adjusted at annual rates period Line Line 2022 2022 2022 2023 2022 2023 2023 2022 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 03 -928.2 -937.7 -117.2 6.9 43 Net exports of goods and services -971.1 -892.0 -877.2 -825.7 -806.1 -784.6 -1,051.0 -981.2 -965.6 -935.1 -9.5 43 2,995.0 3,084.5 3,013.8 3,064.8 2,961.8 3,036.9 2,439.6 2,506.2 2,484.1 2,525.4 2,464.7 2,502.3 158.7 -60.7 37.6 44 44 Exports 90.1 -73.7 30.4 45 45 Goods 2,063.2 2,139.9 2,046.9 2,090.4 1,968.6 2,025.9 1,653.3 1,709.7 1,682.0 1,730.5 1,656.8 1,687.2 46 Services 931.8 944.6 966.9 974.4 993.2 1,010.9 790.0 799.6 805.6 7 810.7 818.1 69.4 12.2 7.4 46 -67.6 47.1 47 47 Imports 3,966.2 3,976.5 3,891.0 3,890.5 3,767.9 3,821.4 3,490.6 3,487.4 3,449.6 3,460.5 3,392.9 3,439.9 276.0 184.4 -47.3 40.3 48 48 Goods 3,262.4 3,254.0 3,163.0 3,158.5 3,058.0 3,108.7 2,886.2 2,870.3 2,838.6 2,851.6 2,804.3 2,844.6 90.4 -19.7 6.9 49 49 Services 703.8 722.5 728.0 731.9 709.8 712.7 607.0 619.5 613.4 611.5 591.8 5 50 Government consumption expenditures and gross -34.3 31.0 42.8 50 investment 4,446.8 4,477.9 4,572.4 4,643.9 4,669.8 4,774.5 3,670.4 3,667.0 3,714.8 3,758.8 3,789.8 3,832.6 1,635.5 1,636.3 1,691.8 1,730.6 1,744.3 1,790.2 1,420.9 1,411.2 1,444.5 1,462.8 1,466.9 1,488.9 .41.5 22.1 51 51 Federal 52 National defense 928.4 930.4 956.2 968.7 978.9 1,008.1 800.1 811.5 815.4 820.1 836.0 -22.9 4.7 15.8 52 53 Consumption expenditures 726.0 731.8 743.6 760.0 764.9 788.1 617.6 618.3 622.1 630.8 632.1 644.1 -26.3 1.3 12.0 53 188.8 192.7 3.8 3.6 3.9 54 54 Gross investment 202.4 198.6 212.7 208.8 214.0 220.0 183.2 178.8 190.4 185.2 55 Nondefense 707.1 705.9 735.5 761.9 765.5 782.1 620.6 614.5 633.0 647.4 646.7 653.0 -18.6 -0.7 6.2 55 556.1 435.3 429.4 443.2 452.8 449.1 454.0 -25.4 -37 4.9 56 56 Consumption expenditures 603.0 500.5 524.3 543.0 542.3 3.2 1.3 57 57 Gross investment 204.1 205.4 211.2 218.9 223.2 226.0 185.9 185.9 190.4 195.3 198.6 199.9 7.4 5.3 26.5 58 State and loca 2,811.3 2,841.5 2,880.6 2,913.2 2,925.5 2,984.3 2,249.6 2,255.1 2,270.8 2,296.5 2,323.0 2,344.0 21.1 58 2,341.1 2,363.2 2,386.5 2,399.1 2,388.3 2,434.7 1,874.4 1,878.5 1,885.5 1,900.5 1,909.2 1,921.6 23.3 8.7 12.4 59 59 Consumption expenditures 470.2 478.4 494.1 514.2 549.6 374.9 376.3 384.9 395.5 4 412.8 421.3 -18.1 17.4 8.5 60 60 Gross investment 61 Residual -72.0 -103.8 -107.2 -102.5 -104.0 61 Addenda: 25,796.4 26,149.7 26,198.2 26,485.4 26,643.3 21,866.4 21,981.4 21,814.9 21,841.7 21,880.7 453.7 39.0 62 62 Gross domestic income (GDI) 25,770.3 26,072.2 26,303.3 26,649.5 26,853.2 .. 21,844.2 21,916.3 21,902.4 21,977.0 22,053.0 .. 434.0 76.0 63 63 Average of GDP and GDI 64 Final sales of domestic product 25,586.8 25,912.3 26,230.7 26,789.9 27,044.5 27,518.4 21,661.2 21,758.5 21,809.9 22,054.3 22,167.1 22,360.6 280.6 112.9 193.5 64 65 Gross domestic purchases 26,715.2 26,886.7 27,285.6 27,639.3 27,869.1 28,408.1 22,854.4 22,809.8 22,936.7 23,028.5 23,140.9 23,415.9 521.1 112.4 275.0 65 112.2 201.5 66 66 Final sales to domestic purchasers 26,557.9 26,804.3 27,107.9 27,615.6 27,850.5 28,303.0 22,692.4 22,716.7 22,755.3 22,970.4 23,082.6 23,284.1 386.2 1 67 Final sales to private domestic purchasers 22,111.1 22,326.5 22,535.5 22,971.7 23,180.7 23,528.5 19,030.0 19,058.1 19.047.2 19,218.1 19,298.9 19,457.3 424.6 80.9 158.4 67 68 GDP 25,744.1 25,994.6 26,408.4 26,813.6 27,063.0 27,623.5 21,822.0 21,851.1 21,990.0 22,112.3 22,225.4 22,491.6 414.3 1 113.0 266.2 68 69 Plus: Income receipts from the rest of 1,123.8 1,144.7 1,182.6 1,215.4 1,265.2 58.2 69 the world 1,252.6 1,285.5 1,340.7 1,390.7 1,452.7 . 49.7 70 Less: Income payments to the rest of the world 1,070.7 1,094.3 1,155.2 1,231.8 1,279.7 960.9 974.6 1,019.1 1,076.8 1,114.6 71.3 37.9 .. 70 25,926.0 26,185.9 26,594.0 26,972.5 27,236.1 . ... 21,992.7 22,028.6 22,161.3 22,260.3 22,384.6... 402.3 124.3 ... 71 71 Equals: Gross national product 21,444.2 21,626.5 21,978.1 22,306.2 22,506.0 23,004.6 18,148.3 18,163.2 18,274.5 18,370.3 18,455.6 18,696.8 303.4 85.3 241.2 72 72 Net domestic product 1. Real gross domestic income is gross d 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 compo nent's relative importance or its contribution to the growth rate of more aggregate series. For accurate estimates of the contributions to percent changes in real gross domestic product, use table 2. Source: U.S. Bureau of Economic Analysis - 10 - October 26, 2023 Table 4. Price Indexes for Gross Domestic Product and Related Measures: Percent Change from Preceding Period Seasonally adjusted at annual rates 2020 2021 2022 2019 2020 2022 Line Line 2021 2023 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Gross domestic product (GDP) 1.3 4.6 7.1 1.4 1.8 -1.4 3.6 2.8 5.4 6.1 6.1 7.0 8.5 9.1 4.4 3.9 3.9 1.7 3.5 1 2 Personal consumption expenditures 1.1 4.2 6.5 1.6 1.3 -1.7 3.3 2.0 4.8 6.3 5.6 6.8 7.7 7.2 4.7 4.1 4.2 2.5 2.9 2 5 8.5 7.7 10.5 11.9 9.9 2.9 0.1 0.7 0.2 0.8 3 3 Goods -0.8 4.9 8.6 0.5 -1.2 -5.8 An CP an bea.gov12:29 Source: U.S. Bureau of Economic Analysis 15 of 17 - 14 - October 26, 2023 Table 8. Personal Income and Its Disposition [Billions of dollars] Seasonally adjusted at annual rates Line 2020 2021 2022 2022 2023 Line Q3 Q1 Q2 Q3 1 Personal income 19,629.0 21,407.7 21,840.8 22,018.8 22,274.1 22,643.9 22,883.4 23,082.9 2 Compensation of employees 11,594.7 12,545.9 13,439.2 13,609.2 13,675.0 13,965.2 14,171.7 14,361.1 A W I Wages and salaries 9,464.6 10,312.6 11,116.0 11,271.4 11,317.0 11,565.4 11,749.7 11,911.4 Private industries 7,970.3 8,766.4 9,493.6 9,639.2 9,660.8 9,879.6 10,038.8 10,165.8 OUT A W N - Goods-producing industries 1,516.7 1,604.9 1,740.5 1,766.6 1,776.0 1,809.9 1,843.0 1,873.3 Manufacturing 905.5 961.6 1,034.8 1,051.7 1,050.4 1,067.2 1,086.5 1 Services-producing industries 6,453.6 7,161.4 7,753.1 7,872.6 7,884.8 8,069.7 8,195.8 8,292.5 Trade, transportation, and utilities 1,442.7 1,595.3 1,714.1 1,736.7 1,738.0 1,790.2 1,810.4 1, 9 Other services-producing industries 5,010.9 5,566.2 6,039.0 6,135.9 6,146.9 6,279.5 6,385.4 6,459.7 9 10 Government 1,494.3 1,546.3 1,622.5 1,632.2 1,656.2 1,685.8 1,710.9 1,745.6 10 11 Supplements to wages and salaries 2,130.0 2,233.2 2,323.2 2,337.8 2,357.9 2,399.8 2,422.0 2,449.7 11 12 Employer contributions for employee pension and insurance funds 1,471.5 1,526.8 1,559.1 1,562.2 1,579.6 1,598.8 1,609.7 1,627.3 12 13 Employer contributions for government social insurance 706.4 764.0 775.6 778.3 800.9 812.3 822.4 13 14 Proprietors' income with inventory valuation and capital consumption adjustments 1,583.8 1,749.1 1,790.9 1,807.4 1,825.3 1,827.4 1,824.1 1,845.8 14 15 Farm 44.4 72.2 81.7 84.0 84.0 71.2 58.2 53.4 15 16 Nonfarm 1,539.4 1,676.8 1,709.1 1,723.4 1,741.4 1,756.2 1,765.9 1,792.5 16 17 Rental income of persons with capital consumption adjustment 756.1 814.2 878.3 893.1 907.5 945.8 961.1 974.5 17 8 Personal income receipts on assets 2,913.7 3,214.7 3,432.0 3,453.4 3,525.4 3,577.0 3,602.6 3,624.3 18 19 Personal interest income 1,510.3 1,515.5 1,627.5 1,647.6 1,706.7 1,744.3 1,754.8 1,790.9 19 20 Personal dividend income 1,403.5 1,699.2 1,804.5 1,805.8 1,818.7 1,832.7 1,847.8 1,833.4 20 21 Personal current transfer receipts 4,229.9 4,641.9 4,002.1 3,981.8 4,073.7 4,102.4 4,120.1 4,093.8 21 22 Government social benefits to persons 4,182.7 4,554.1 3,903.0 3,882.9 3,974.9 4,001.5 4,017.3 3,987.9 22 23 Social security 1,077.9 1,114.6 1,211.5 1,214.5 1,225.8 1,340.0 1,353.8 1,361.4 23 24 Medicare 816.8 5926.1 927.2 934.2 938.1 941.9 946.3 24 25 Medicaid 736.5 814.4 819.0 828.4 871.5 911.4 882.7 25 26 Unemployment insurance 529.5 324.0 22.3 19.6 22.1 22.0 22.3 21.0 26 27 Veterans' benefits 145.4 154.1 170.5 172.7 173.7 172.9 172.6 172.8 27 28 Other 955.5 1,350.5 758.2 729.9 790.7 657.1 615.4 603.7 28 29 Other current transfer receipts, from business (net) 47.2 87.7 99.1 98.9 98.8 100.9 102.8 105.9 29 30 Less: Contributions for government social insurance, domestic 1,449.3 1,558.0 1,701.7 1,726.1 1,732.8 1,773.9 1,796.2 1,816.7 30 31 Less: Personal current taxes 2,256.5 2,743.3 3,138.3 3,137.0 3,095.7 2,763.7 2,706.7 2,810.3 31 32 Equals: Disposable personal income 17,372.5 18,664.4 18,702.5 18,881.7 19,178.4 19,880.2 20,176.7 20,272.6 32 33 Less: Personal outlays 14,694.0 16,543.9 18,079.7 18,269.1 18,556.0 18,932.0 19,136.6 19,495.7 33 34 Personal consumption expenditures 14,206.2 16,043.0 17,511.7 17,684.2 17,917.0 18,269.6 18,419.0 18,734.3 34 35 Goods 4,713.1 5,506.6 5,997.0 6,046.8 6,047.6 6,133.8 6,144.7 6,230.0 35 36 Durable goods 1,628.9 2,006.4 2,128.9 2,143.1 2,129.0 2,194.9 2,193.6 2,209.2 36 37 Nondurable goods 3,084.2 3,500.2 3,868.1 3,903.7 3,918.6 3,939.0 3,951.1 4,020.8 37 38 Services 9,493.1 10,536.3 11,514.7 11,637.4 11,869.4 12,135.7 12,274.4 12,504.3 38 39 Personal interest payments 285.8 273.6 326.1 342.4 395.3 419.8 474.7 515.2 39 Personal current transfer payments 202.0 227.3 241.8 242.5 243.7 242.6 242.9 246.2 40 41 To government 108.6 120.2 127.7 128.4 129.2 129.7 130.4 131.2 41 42 To the rest of the world (net) 93.3 107.1 114.1 114.1 114.4 112.9 112.5 115.0 42 43 Equals: Personal saving 2,678.6 2,120.5 622.8 612.6 622.4 948.2 1,040.1 776.9 43 44 Personal saving as a percentage of disposable personal income 15.4 11.4 3.3 3.2 3.2 4.8 5.2 3.8 44 Addenda: 45 Personal income excluding current transfer receipts billions of chained (2017) dollars 14,717.0 15,381.3 15,372.5 15,429.2 15,411.3 15,540.8 15,630.4 15,705.0 45 Disposable personal income 46 Total. billions of chained (2017) dollars 16,603.0 17,123.1 16,116.9 16,151.8 16,239.5 16,662.8 16,807.8 16,766.4 46 Per capita: 47 Current dollars 52,360 56,159 56,063 56,566 57,372 59,408 60,226 60,425 47 48 Chained (2017) dollars 50,041 51,521 48,313 48,388 48,580 49,793 50,170 49,974 48 49 Population (midperiod. thousands) 331,788 332,351 333,595 333,799 334,282 334,641 335,019 335,501 49 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 en rises, plus personal income receipts on assets, and personal current transfer receipts. 2. Includes actual employer contributions and actuarially imputed er crued by defined benefit pensi participants through service to employers in the current period. 3. Social security benefits include old-age, survivors, and disab rance benefits that are distributed from the federal old-age and survivors insurance trust fund and the disability insurance trust fund. 4. Medicare benefits include hospital and supplemer nefits that are distributed from the federal hospital insurance trust fund and the supplementary medical insurance trust fund. 5. Consists of nonmortgage interest paid by househ se item in the calculation of rental income of persons. 6. The current-dollar meas eflated by the implicit price deflato 7. Population is the total population of the United States, including the Armed Forces overseas and the institutionalized population. Source: U.S. Bureau of Economic Analysis - 15 - bea.gov