Updated Summary nipa Methodologies

September

Updated Summary Methodologies

summary descriptions of theprincipal source data and estimating methods used toprepare the current-dollar estimates of gross domesticproduct () and the estimates of real . Thesedescriptions have been updated to reflect the method-ological improvements that were introduced in theannual revision of the national income and productaccounts (’s) that was released in July .

Current-dollar estimates

Table lists the components of current-dollar starting with the components on the product side andproceeding to those on the income side. The subcom-ponents, with their dollar values for , are groupedaccording to the methodology used to prepare them.

The column for the annual estimates covers therevision cycle for those estimates and notes the ma-jor differences in methodology as the estimates movethrough the three annual revisions to a benchmarkrevision. For example, for “most goods” in personalconsumption expenditures (the first item on the prod-uct side), the table indicates one methodology forbenchmark years and another for all other years.

The column for the quarterly estimates covers onlythe advance estimate for the current quarter—that is,the estimate prepared about a month after the end ofthe quarter. That estimate, rather than the prelimi-nary or final quarterly estimate, is described becausemore attention focuses on the “first look” at the quar-ter. In addition, the column lists only the source dataand methods; it does not indicate how many monthsof source data are available or whether the data aresubject to revision by the source agency. Informa-tion on the key monthly source data appears eachmonth in the “Business Situation” in the S C B. Additional information on themonthly source data used for the advance estimate isavailable online from the Department of Commerce’sEconomic Bulletin Board.

The source data listed consist of a variety of eco-nomic measures, such as sales or receipts, wages andsalaries, unit sales, housing stock, insurance premi-ums, expenses, interest rates, mortgage debt, and taxcollections. For most components, the source data

. has prepared a series of papers that provide detailed descriptionsof concepts and methodologies. The methodologies described in thesepapers are subject to periodic improvements, which are typically introducedas part of annual and comprehensive revisions; these improvements are de-scribed in the articles in the S C B that cover theserevisions. For more information; see appendix B at the back of this issue.

. See “Annual Revision of the National Income and Product Accounts,”S (August ): –.

. For additional details on the release schedule for the estimates, see“A Look at How Presents the National Income and Product Accounts,”S (May ): –.

. For information about the Economic Bulletin Board, call - at–––.

are “value data”; that is, they encompass both thequantity and price dimensions that are required forcurrent-dollar estimates. In these cases, the method-ology indicated in table covers only the adjustmentof the value data to derive estimates consistent with definitions and coverage.

For those estimates not derived from value data,the table indicates the combination of data with sep-arate quantity and price dimensions that is used toderive the required value estimate and the major ad-justments needed to derive estimates consistent with definitions and coverage. On the product side,a “physical quantity times price” method is used forseveral components. For example, the estimate fornew autos is calculated as unit sales times expenditureper auto (the average list price with options, adjustedfor transportation charges, sales tax, dealer discounts,and rebates). On the income side, an “employmenttimes earnings times hours” method and variations ofa “stock of assets/liabilities times an effective interestrate” method are used for several components.

Some of the source data shown in table for theannual estimates are used as indicators to interpolateand extrapolate the levels established by source datathat are more comprehensive, and all of the sourcedata shown for the advance quarterly estimates areused to extrapolate the level of the preceding quar-ter. In addition, extrapolation and interpolation maybe based on trends, as is the case when “judgmentaltrend” is listed in the table.

Estimating methods.—Table refers to four methods—commodity flow, retail control, perpetual inventory,and fiscal year analysis—used by for estimatingspecific components.

The commodity-flow method is used to obtainthe value of final users’ purchases of goods andservices (that is, commodities) for ’s benchmarkinput-output accounts. These values serve as thebenchmark for the estimates of personal con-sumption expenditures (), of producers’ durableequipment (), and of the commodity detail forState and local government consumption expendituresand gross investment. This method is also used for in nonbenchmark years, but it is implementedin an abbreviated form. An even more abbreviatedcommodity-flow method is used for current quarterlyestimates of .

. For a few components, the final quarterly estimates are based on newlyavailable source data that replace judgmental trends.

. For additional information on the commodity-flow method, see U.S.Department of Commerce, Bureau of Economic Analysis, Personal Consump-tion Expenditures, Methodology Paper Series – (Washington, : U.S.Government Printing Office, ): –; and U.S. Department of Com-merce, Bureau of Economic Analysis, : An Overview of Source Data andEstimating Methods, Methodology Paper Series – (Washington, : U.S.Government Printing Office, ): –.

September •

The retail-control method is used to estimate overone-third of the value of for periods other thanbenchmark years. This method provides the indicatorseries used in extrapolating and interpolating the to-tal of “most goods” and the “control” total to whichthe categories and residential included in thisgroup must sum. These categories consist of allgoods except autos and trucks, food furnished to em-ployees, food and fuel produced and consumed onfarms, standard clothing issued to military personnel,school lunches, and net foreign remittances.

The perpetual-inventory method is used to deriveestimates of fixed capital stock, which in turn formthe basis for the estimates of consumption of fixedcapital. This method is based on investment flows anda geometric depreciation formula; it is used insteadof direct measurement of the capital stock becausedirect measurement is seldom statistically feasible ona comprehensive basis.

The fiscal year-analysis method provides the frame-work for the annual and quarterly estimates of FederalGovernment consumption expenditures and gross in-vestment. The estimates of expenditures are preparedby program—that is, by activity for a group of lineitems or for an individual line item in the Budget ofthe U.S. Government. For most programs, the fis-cal year analysis begins by adjusting budget outlaysfor coverage and for netting and grossing differencesbetween these outlays and expenditures. The ex-penditures total (as adjusted) for a program is thenclassified by type of expenditure—for example,transfer payments and interest paid—with nondefenseconsumption expenditures and gross investment de-termined residually. When a fiscal year analysis iscompleted, the detailed array of expenditures byprogram and by type of expenditure serves as a set ofcontrol totals for the quarterly estimates.

Balance of payments accounts.—The source data forthe foreign transactions reflected in most components—such as net exports of goods and serv-ices and rest-of-the-world corporate profits—are thebalance of payments accounts (’s), which are alsoprepared by . As noted in table , for some components, the estimates are adjusted to

. For additional information, see Personal Consumption Expenditures,–; and : An Overview, .

. For additional information on the perpetual-inventory method, seeU.S. Department of Commerce, Bureau of Economic Analysis, Fixed Re-producible Tangible Wealth in the United States, – (Washington, :U.S. Government Printing Office, January ): M-–M-; and : AnOverview, –. For additional information on the geometric depreciationformula, see “Improved Estimates of Fixed Reproducible Tangible Wealth,–,” S (May ): –.

. For additional information and an illustration of the fiscal year-analysismethod, see U.S. Department of Commerce, Bureau of Economic Analysis,Government Transactions, Methodology Paper Series – (Washington, :U.S. Government Printing Office, ): –.

. See U.S. Department of Commerce, Bureau of Economic Analysis, TheBalance of Payments of the United States: Concepts, Data Sources, and Esti-mating Procedures, (Washington, : U.S. Government Printing Office, ).(The methodologies described in this publication are subject to periodic im-provements, which are typically introduced as part of the annual revision ofthe ’s; these improvements are described in the S articles that cover

conform to concepts and definitions. Annualestimates of these adjustments and their definitionsare shown in table ., which was last publishedin the August S on page ; summary quar-terly estimates are shown in “Reconciliation Tables”in appendix A of the S.

Other information.—In preparing the annual estimatesof several of the income-side components, adjuststhe source data for various coverage and conceptualdifferences. For each subcomponent listed below, anannual table reconciles the value published bythe source agency with the value published by and identifies the adjustments. The followingis a list of the subcomponents and their correspond-ing reconciliation tables, which appear in this issueon pages –: Wages and salaries, table .; farmproprietors’ income, table .; nonfarm proprietors’income, table .; corporate profits, table .; netinterest, table .; and consumption of fixed capital,table ..

Real estimates

Table shows which one of three methods—deflation, quantity extrapolation, and direct base-yearvaluation—is used to prepare the quantity index foreach detailed product-side component of real andidentifies the source data with which the method isimplemented. Deflation is used for most of the de-tailed components. In deflation, the quantity indexis obtained by dividing the current-dollar index byan appropriate price index that has the base year—currently —equal to and then by multiplyingthe result by .

The quantity-extrapolation and direct-base-year-valuation methods are similar in that they both useexplicit quantity data. In quantity extrapolation,quantity indexes are obtained by using a quantity indi-cator to extrapolate from the base-year value of inboth directions. In direct-base-year valuation, quan-tity indexes are obtained by multiplying the base-yearprice by actual quantity data for the index period andthen expressing the result as an index with the baseyear equal to .

The subcomponents in table are the same as thoseshown in table , but the detail differs to highlight thealternative methodologies used for calculating the realestimates.

Tables and follow.

the annual revisions, most recently in “U.S. International Transactions,Revised Estimates for –,” S (July ): –.)

. These adjustments are described in U.S. Department of Commerce,Bureau of Economic Analysis, Foreign Transactions, Methodology Paper Series– (Washington, : U.S. Government Printing Office, ): –.

. For additional information on the calculation of real , see appendixA in this issue; “A Look at How Presents the National Income andProduct Accounts,” –; “’s Chain Indexes, Time Series, and Measures ofLong-Term Economic Growth,” S (May ): –; and “AnnualRevision of the National Income and Product Accounts,” –.

. For the real estimates, the distinction between annual and quarterlymethodologies is far less important than it is for the current-dollar estimates.For the relatively few cases in which the annual and quarterly source datadiffer, the major differences are noted in the entry.

• September

s

Component (dollar

cek po

: Sourceepare an

,

Personalconsumpexpenditu($5,207.6)

oninu

onf

ent year.

ello anll etosmo

rFoalinddrvetrgfron

basedors. Forof fran-

sourceu of

price

oninu

ra

rvom

a a

prin

ent year.

cantih

ersu rpr

ana

ent year.

See footnotes

Table 1.—Principal Source Data and Estimating Method

billions ofs)

Subcomponent (billions ofdollars)

Annual estimates: Sourmine level for benchmar

an extra

Product side (GDP of $7

tionres

Durable and nondurablegoods:($2,169.2) 1

Most goods (except sub-components listed sepa-rately)($1,821.0)

Benchmark years—Commmanufacturers’ shipmenial census and includimports from Census B

Other years—Retail-contrfrom Census Bureau ayear, monthly survey o

New autos($86.1)

Physical quantity purchassales, information to aother purchasers, andjusted for transportatiocounts, and rebates, a

Net purchases of usedautos($55.2)

Benchmark years—For nconsumer stock of autmargin, retail sales frosus and margin rate frretail trade.

Other years except mostas benchmark years. ers’ unit sales times stimes margin rate for reau annual survey; insus Bureau annual su

Most recent year—For nyears. For dealers’ masales and sales price dealers, sales from Cetrade.

New trucks($63.7)


Other years except mostmethod, starting with msus Bureau annual suexports and imports frdata.

Most recent year—Physicretail price: Unit salesamong consumers andsources and average tistics consumer price

Gasoline and oil 2

($122.6)Benchmark years—Physi

retail price: Gallons coTransportation, informasumers and other purctrade sources, and avreau quinquennial cen

Other years except mostexcept average retail ministration.

Most recent year—Physicretail price: Gallons cofrom the Energy Inform

at end of table.

Used in Preparing Estimates of Current-Dollar GDP

data and methods used to deter-and other years or used to preparelator or interpolator

Advance quarterly estimatesdata and methods used to pr

extrapolator

636.0 billion for 1996)

dity-flow method, starting withts from Census Bureau quinquen-g an adjustment for exports andreau foreign trade data.

l method, using retail trade salesnual survey or, for most recentretail trade.

Same as annual for most rec

d times average retail price: Unitcate sales among consumers andverage list price with options, ad- charges, sales tax, dealer dis-from trade sources.

Same as annual.

transactions, change in the from trade sources. For dealers’ Census Bureau quinquennial cen-m Census Bureau annual survey of

ecent—For net transactions, samer dealers’ margin, franchised deal-es price, both from trade sources,ependent dealers from Census Bu-

ependent dealers’ margin from Cen-ey. transactions, same as benchmarkin, for franchised dealers, unitm trade sources; for independent

sus Bureau monthly survey of retail

For net transactions, residualon net sales by other sectdealers’ margin, unit sales chised dealers from trade and sales price from BureaLabor Statistics consumer index for used cars.

dity-flow method, starting withts from Census Bureau quinquen-g an adjustment for exports andreau foreign trade data.

ecent—Abbreviated commodity-flownufacturers’ shipments from Cen-

ey and including an adjustment for Census Bureau foreign trade

l quantity purchased times averagend information to allocate salesother purchasers from tradeice based on Bureau of Labor Sta-dex for new trucks.


l quantity purchased times averagesumed from the Department ofon to allocate that total among con-asers from Federal agencies andage retail price from Census Bu-s.

ecent—Same as benchmark years,ice from the Energy Information Ad-

l quantity purchased times averagesumed and average price, bothtion Administration.


September •

Tab d

Component (dollar

cek po

: Sourceepare an

PersonalconsumpexpendituContinued

om is tat

enbafo

ame asmilitary

d.

b imse

d Cel

auseefo

stock,ge rent,

ent.

d Ce rap

ipsu.r thwp

o

cation agencyal orga-ies de-r Statis-mesegitimates, re-for radioTV’sfrom of Labordex forair; forentedom fromthis

See footnotes

le 1.—Principal Source Data and Estimating Methods Use

billions ofs)



an extra

Product side (GDP of $7,636.0

tionres—

Durable and nondurablegoods—Continued:

Food furnished to employ-ees (including military)($8.7)

Benchmark years—For cployees of appropriatetistics tabulations timeitures for food; for miliBudget of the United Sagement and Budget.

Other years—Same as bexpenditures for food consumer price index

Expenditures abroad byU.S. residents ($2.6)less personal remit-tances in kind to non-residents ($1.2)

Estimated as part of the entry for ‘‘exports andexports of goods and

Services:($3,038.4)

Nonfarm dwellings—spacerent for owner-occupiedand rent for tenant-occu-pied($752.0)

Benchmark years—Baseage annual rent from housing and residentiabilled with rent.

Other years—Based on dannual rent from Censon the number of houcurrent population survconsumer price index

Rental value of farm dwell-ings($6.1)

Benchmark years—Baseage annual rent from housing and survey of

Other years—Based on ding stock from BEA ca

Motor vehicle and other re-pair, other purchasedintercity transportation,legal and funeral serv-ices, barbershops andbeauty parlors, nursinghomes, laundries, em-ployment agency fees,accounting and tax re-turn preparation serv-ices, recreation (exceptcable TV, casino gam-bling, parimutuel net re-ceipts, and lotteries), ho-tels and motels, andother education and re-search($508.1)

Benchmark years—Recereau quinquennial cenness and governments

Other years—Receipts fosources; for legitimatesearch, tabulations of covered by State unemof Labor Statistics; forservice annual survey.

at end of table.

in Preparing Estimates of Current-Dollar GDP—Continued



extrapolator

billion for 1996)—Continued

mercial employees, number of em-ndustries from Bureau of Labor Sta-BEA estimate of per capita expend-ry personnel, outlays from theates prepared by the Office of Man-

chmark years, except per capitased on Bureau of Labor Statisticsr food.

For commercial employees, sannual for other years; for personnel, judgmental tren

alance of payments accounts; seeports of services, net,’’ under netrvices.

Judgmental trend.

on data on housing stock and aver-nsus Bureau decennial census of

finance survey, adjusted for utilities

ta on housing stock and averages Bureau biennial housing survey orholds from Census Bureau monthlyy and Bureau of Labor Statisticsr rent.

Same as annual: For housingjudgmental trend; for averaBureau of Labor Statisticsconsumer price index for r

on data on housing stock and aver-nsus Bureau decennial census of

esidential finance.ta on net value of real farm hous-ital stock series.

Judgmental trend.

ts and expenses from Census Bu-s adjusted for receipts from busi-

spectator sports from tradeeaters and other education and re-

ages and salaries of employeesloyment insurance from the Bureauthers in this group, Census Bureau

For nursing homes, other eduand research, employmentfees, and clubs and fraternnizations, wages and salarrived from Bureau of Labotics monthly employment tiearnings times hours; for ltheaters and motion pictureceipts from trade sources; and TV repair, number of based on stock and sales trade source times BureauStatistics consumer price inappliance and furniture rephotels and motels, rooms rtimes average price per rotrade source; for others in group, judgmental trend.

• September

Tab d

Component (dollar

cerkpo

: Sourceepare an


on i

io

ndns

profes-ges and

au ofploy-

hours.lif pe

sro

raap

urth

em

founda- othersalariesbor Sta- times

baer

t— imrotr allmx

stock tradeales ofities,ent com-urce; fornd in-r bankl trend;receiptsate

nd sala-f Laborent.

leiarsbow

eaSee footnotes


billions ofs)


Annual estimates: Sourmine level for benchma

an extra


tionres—

Services—Continued:

Physicians, dentists, andother professional medi-cal services($357.6)

Benchmark years—For npenses, and for othersgovernment consumptquennial census.

Other years—Receipts aconsumption, from Ce

Private nursery, elemen-tary, and secondaryschools, day care, wel-fare activities, and tradeunions and professionalassociations($148.6)

Benchmark years—For refrom the Department oaverage expenditures day care, expendituresconsumer expenditureceipts and expenses fcensus.

Other years except mostcare, same as benchmannual tabulations of wcovered by State unemof Labor Statistics.

Most recent year—For njudgmental trend; for owages and salaries ofployment insurance fro

Financial services furnishedwithout payment bybanks, credit agencies,and investment compa-nies 3

($169.9)

See entry for ‘‘imputed—ment companies’’ und

Brokerage charges and in-vestment counseling,bank service charges,intercity transportationexcept other, and privatehigher education($148.7)

Years except most recenpenses, and for othersnual reports of govern

Most recent year—For bcharges, and intercity reports of governmenthigher education, enrocation times price indesource.

Domestic services($12.5)

Benchmark years—For csus Bureau quinquennices, number of workefrom the Bureau of La

Other years—Number of earnings from the Bur

at end of table.


data and methods used to deter- and other final or used to preparelator or interpolator


extrapolator


profit professional services, ex-n this group, receipts, adjusted forn, all from Census Bureau quin-

revenues, adjusted for governmentus Bureau service annual survey.

For physicians and dentists,judgmental trend; for othersional medical services, wasalaries derived from BureLabor Statistics monthly emment times earnings times

gious-affiliated schools, enrollmentEducation times BEA estimate ofr pupil; for nursery schools and

from Bureau of Labor Statisticsurvey; for others in this group, re-m Census Bureau quinquennial

ecent—For nursery schools and dayrk years; for others in this group,ges and salaries of employeesloyment insurance from the Bureau

sery schools and day care,ers in this group, tabulations ofmployees covered by State unem- the Bureau of Labor Statistics.

For political organizations andtions, judgmental trend; forin this group, wages and sderived from Bureau of Latistics monthly employmentearnings times hours.

nks, credit agencies, and invest- net interest.

Judgmental trend.

For private higher education, ex-n this group, receipts, all from an-ent administrative agencies.kerage charges, bank serviceansportation, receipts, from annualdministrative agencies; for privateent from the Department of Edu-

for higher education from trade

For stock brokerage charges,exchange transactions fromsources; for income from sinvestment company secursales of open-end investmpany shares from trade soother brokerage charges avestment counseling and foservice charges, judgmentafor intercity transportation, from trade sources; for privhigher education, wages aries derived from Bureau oStatistics monthly employmtimes earnings times hours

aning services, receipts from Cen-l census; for other domestic serv- times weekly hours times earningsr Statistics.orkers times weekly hours timesu of Labor Statistics.

Judgmental trend.

September •

Tab d

Component (dollar

cek po

: Sourceepare an


t—emr

soe

ent year.

t—ic

inr ustiv frospe ereced

ispstith

and reli- salariesbor Sta- timeslectricityes basedhe Na-hericbased on

r utilities;gmental

b imse

from this

See footnotes


billions ofs)



an extra


tionres—


Public higher education andhospitals, water andother sanitary services,and lotteries($157.7)

Years except most recenCensus Bureau quinquState and local governbasis from a fiscal yeaceipts from the same

Most recent year—JudgmInsurance, private hospitals,

religious activities, cableTV, utilities, and localtransport($720.1)

Years except most recentrade sources; for medpremiums and benefitsministration; for other from trade sources; fopenses from Census Bmark year), and expenyears); for religious actions and membershipand utilities, receipts fsources; for local tran

Most recent year—For lifand salaries of employinsurance from the Buother than life insurantivities, expenses basereau and per capita dfor local transport, pasBureau of Labor Statiscity mass transit; for oyears.

Foreign travel by U.S. resi-dents ($54.9) less ex-penditures in the UnitedStates by nonresidents($82.7)

Estimated as part of the entry for ‘‘exports andexports of goods and

Other services: Casinogambling, and parimutuelnet receipts; other hous-ing except hotels andmotels; bridge, etc., tolls;other household oper-ation except repairs andinsurance; travel and en-tertainment card fees;stenographic and repro-duction services; andmoney orders and clas-sified advertising($85.0)

Various source data.

at end of table.




extrapolator


For lotteries, net receipts fromnnial census and annual surveys ofents, adjusted to a calendar yearbasis; for others in this group, re-urces.ntal trend.


For life insurance, expenses fromal and hospitalization insurance,

from the Health Care Financing Ad-surance, premiums and benefitsprivate hospitals, receipts and ex-reau quinquennial census (bench-es from trade sources (otherities, expenses based on contribu-

rom trade sources; for cable TVm government agencies and tradeort, receipts from trade source.insurance, tabulations of wageses covered by State unemploymentau of Labor Statistics; for insurance, judgmental trend; for religious ac- on population from the Census Bu-osable personal income from BEA;

enger trips from trade source timescs consumer price index for intra-ers in this group, same as other

For life insurance, hospitals, gious activities, wages andderived from Bureau of Latistics monthly employmentearnings times hours; for eand gas, projected quantition degree-day data from ttional Oceanic and AtmospAdministration times price Bureau of Labor Statisticsconsumer price indexes fofor others in this group, judtrend.

alance of payments accounts; seeports of services, net,’’ under netrvices.

Same as annual.

For casino gambling, receiptsState agency; for others ingroup, judgmental trend.

• September

Tab d

Component (dollar

cek po

: Sourceepare an

Fixed invest($1,090.7)

e

al

nd

umor

pi

s, samefor min-

t 1onneoe

n

rs.

pum

n

rs.

s us Bu-survey.

oninu ip

ceu

imt, t tqndtheru

trucks’’n ex-is group,ears but

f; 1

ual; fornd.

See footnotes


billions ofs)



an extra


ment Nonresidential structures:($215.2) 4

Utilities: Telecommuni-cations($11.9)

Value put in place from Csurvey.

Utilities: Other($21.4)

Expenditures from Federsources.

Mining exploration, shafts,and wells($16.1)

Benchmark years—Expequennial census.

Other years—For petroletimes average price: Ftrade sources; for otheBureau surveys on ca

Industrial buildings($32.1)

Benchmark years, excepsus Bureau monthly cfrom Department of Econsumption survey. FBureau annual capital undercoverage.

Other years—Value put iconstruction survey.

Other nonfarm buildingsand structures($129.7)

Benchmark years—Valuemonthly construction spartment of Energy cotion survey.

Other years—Value put iconstruction survey.

Farm buildings($3.7)

Expenditures for new conculture surveys.

Nonresidential producers’durable equipment:($566.2)

Equipment, except autos($520.9)


Other years—Abbreviatedwith manufacturers’ shsurvey or, for most remonthly survey of manment for exports and trade data. For aircrafCensus Bureau currenports and imports. Forican imports, physical tail price: Unit sales aamong business and oand average price basducer price indexes; fosus Bureau current ind

New and used autos($45.3)

For new autos, see entrysumption expendituresstock of autos at least

at end of table.




extrapolator


nsus Bureau monthly construction Same as annual.

regulatory agencies and trade Judgmental trend.

itures from Census Bureau quin-

and natural gas, physical quantityotage drilled and cost per foot frommining, expenditures from Census

tal expenditures.

For petroleum and natural gaas annual for other years; ing, judgmental trend.

992—Value put in place from Cen-struction survey and improvementsrgy commercial buildings energyr 1992, tabulations from Censusxpenditure survey, adjusted for

place from Census Bureau monthly

Same as annual for other yea

ut in place from Census Bureaurvey and improvements from De-mercial buildings energy consump-

place from Census Bureau monthly


truction from Department of Agri- Value put in place from Censreau monthly construction

dity-flow method, starting withts from Census Bureau quinquen-g an adjustment for exports andreau foreign trade data.commodity-flow method, startingments from Census Bureau annualnt year (except aircraft and trucks),factures and including an adjust-ports from Census Bureau foreignmanufacturers’ shipments fromindustrial report, adjusted for ex-rucks, domestic and North Amer-uantity purchased times average re- information to allocate saleser purchasers from trade sources

d on Bureau of Labor Statistics pro- truck trailers, shipments from Cen-strial report.

For trucks, see entry for ‘‘newunder personal consumptiopenditures; for others in thsame as annual for other ywith less detail.

or ‘‘new autos’’ under personal con-for used autos, change in business year old from trade source.

For new autos, same as annused autos, judgmental tre

September •

Tab d

Component (dollar

cek po

: Sourceepare an

Fixed investContinued

ofro

e

nroacely

rs.

cce

rericly frus

s

Change in binventorie($25.9)

to

poetnvurie

cve rretae o

ent year.

urntdee Ce,

tioetr

annualll others,

nt

A andre.

See footnotes


billions ofs)



an extra


ment— Residential investment:($309.2) 5

Permanent-site new single-family housing units($159.1)

Value put in place basedage construction cost struction survey.

Permanent-site new multi-family housing units($20.3)

Value put in place from Csurvey.

Mobile homes($12.6)

Benchmark years—See eunder nonresidential p

Other years—Physical quments from trade sourCensus Bureau month

Improvements($74.4)

Expenditures by owner-otistics quarterly consumlords from Census Bu

Brokers’ commissions($36.3)

Physical quantity times pNumber of single-famiand commission ratesstruction survey, Censand trade sources.

Producers’ durable equip-ment($7.5)

See entry for ‘‘most goodpenditures.

usinesss

Manufacturing and trade($18.0)

Benchmark years—Invennial censuses revaluedinformation on the prodifferent accounting mtion of goods held in iall from Census Bureaveys, combined with pLabor Statistics productween Census Bureauchange in business in

Other years except mostreau annual surveys,

Most recent year—For reerage prices from tradfrom Census Bureau mscribed above.

Other nonfarm industries($5.0)

Inventories revalued to cnoted as physical quamanufacturing and traternal Revenue Servicfor most recent year, corporations for miningInformation AdministraStatistics producer pricall others, judgmental

Farm($2.9)

Changes in physical quapartment of Agriculture

at end of table.




extrapolator


n phased housing starts and aver-m Census Bureau monthly con-

Same as annual.

nsus Bureau monthly construction Same as annual.

try for ‘‘equipment, except autos’’ducers’ durable equipment.ntity shipped times price: Ship-s and average retail price from

survey.


upants from Bureau of Labor Sta-r expenditure survey and by land-

au quarterly survey of landlords.

Judgmental trend.

e times average commission rate: houses sold, mean sales price,om Census Bureau monthly con- Bureau biennial housing survey,

Same as annual.

’’ under personal consumption ex- Same as annual.

ries from Census Bureau quinquen-to current replacement cost, usingrtions of inventories reported using

hods, on the commodity composi-entory, and on the turnover period,

quinquennial censuses and sur-ces, largely based on Bureau ofr price indexes. (The difference be-hange in inventories and BEAntories is the IVA.)ecent—Inventories from Census Bu-valued as described above.il auto dealers, quantities times av-sources; for all other, inventoriesnthly surveys, revalued as de-


rent replacement cost (except whenity times price) as described for: For years except most recent, In-tabulations of business tax returns;nsus Bureau quarterly survey ofmonthly quantities from the Energyn combined with Bureau of Labor indexes for electric utilities, and forend.

For electric utilities, same as for most recent year; for ajudgmental trend.

ities times current prices from De-surveys.

Judgmental projections by BEthe Department of Agricultu

• September

Tab d

Component (dollar

cek po

: Sourceepare an

Net exportsgoods anservices(–$94.8)

betme laRi to

ca

cov-trend; for.

bnsale, def-, s n in a

mentalas an-

Governmentconsumpexpenditugross inv($1,406.7)

laon

ab w t an

oomen

tion,rtmente Bu-

vilian);n, same

laon

See footnotes


billions ofs)



an extra


ofd

Exports and imports ofgoods, net(–$191.5)

Estimated as part of the port and import documsus Bureau with adjusvaluation to convert thbasis. Adjusted for baterritories and Puerto wealth of Puerto Rico,Census Bureau, and cfrom the U.S. Geologi

Exports and imports ofservices, net($96.6)

Estimated as part of the government transactiotheir purchases and sgroup (including traveltation, and royalties annual surveys (supplemAdjusted for balance-otories and Puerto Ricoclude financial serviceentry for ‘‘imputed—bacompanies’’ under netment of military grants

tionres andestment

Federal national defenseconsumption of generalgovernment fixed capital($57.3)

Perpetual-inventory calcugross investment and

Federal national defense,except consumption ofgeneral governmentfixed capital($295.4)

Within a control total estcompensation, militaryed States prepared byBudget, civilian wagessonnel Management, ainsurance mainly fromment; for other than con data from Departm

Federal nondefense con-sumption of general gov-ernment fixed capital($11.2)


at end of table.




extrapolator


alance of payments accounts: Ex-nts compiled monthly by the Cen-ents by BEA for coverage anddata to a balance-of-payments

nce-of-payments coverage of U.S.co with data from the Common-he U.S. Virgin Islands, and theverage of gold adjusted with datal Survey and trade sources.

For territorial adjustment and erage of gold, judgmental all others, same as annual

alance of payments accounts: For, reports by Federal agencies ons abroad; for most others in this

passenger fares, other transpor- license fees), BEA quarterly or an-nted with data from other sources).payments coverage of U.S terri-see entry above; adjusted to in-furnished without payment, seeks, credit agencies, and investmentterest, and adjusted for NIPA treat-nd labor income.

For territorial adjustment, judgtrend; for all others, same nual.

tions at current cost, based on investment prices.

Same as annual.

lished by fiscal year analysis: Forages from the Budget of the Unit-

he Office of Management andnd benefits from the Office of Per-d employer contributions for socialutlays from Monthly Treasury State-pensation, by type, based mainlyt of Defense reports.

For components of compensaemployment from the Depaof Defense (military) and threau of Labor Statistics (cifor other than compensatioas annual.


Same as annual.

September •

Tab d

Component (dollar

cek po

: Sourceepare an

GovernmentconsumpexpenditugrossinvestmenContinued

abpod mueneiaagair

anh o

cst iuem

tion,au ofhannual.

ta Stabgem

al Cs y

ed frommonthly fromemploy-le; other-r othertrend.

iua onsump-

es.

laon

t—e, prger ncvude

ent year.

See footnotes


billions ofs)



an extra


tionres and

t—

Federal nondefense, exceptconsumption of generalgovernment fixed capital($156.1)

Within a control total estCommodity Credit Corues of acquisitions anfrom agency reports tiDepartment of Agricultwithout payment, see agencies, and investmfor compensation, civilfice of Personnel Manfor social insurance mTreasury Statement; foReserve), distribution of Energy; for researcthe National Science Fthe National Aeronauticonstruction, value pumonthly construction sMonthly Treasury Stat

State and local compensa-tion of general govern-ment employees, exceptforce-account construc-tion($547.2)

For wages and salaries, employees covered bythe Bureau of Labor Sfor social insurance, taAdministration, other aance programs, and Clocal government retireyear basis from a fisctrade sources, Health Census Bureau surveyadjusted to a calendar

State and local structures($128.5)

Value of construction putmonthly construction s

State and local brokeragecharges and financialservices furnished with-out payment($13.0)

See entries under personservices.

State and local consump-tion of general govern-ment fixed capital($56.6)


State and local investmentin equipment and con-sumption expenditures,except compensation,consumption of fixedcapital, brokeragecharges, and financialservices furnished with-out payment.($141.4)

Years except most recenBureau quinquennial cand local governmentsdata that are more apas follows: For coveraferences; to a calendafor other timing differenet expenditures of gopayments; and to excl

Most recent year—Judgm at end of table.




extrapolator


lished by fiscal year analysis: Forration inventory change, book val-

physical quantities of dispositionses average market prices from there; for financial services furnishedtry for ‘‘imputed—banks, credit

nt companies’’ under net interest;n wages and benefits from the Of-ement and employer contributions

nly from outlays from Monthly petroleum sales (Naval Petroleumd price data from the Departmentand development, obligations fromundation and disbursements from and Space Administration; forn place from Census Bureaurvey; for all other, outlays from

ent.

For components of compensaemployment from the BureLabor Statistics; for other tcompensation, same as an

bulations of wages and salaries oftate unemployment insurance fromtistics; for employer contributionsulations from the Social Securityencies administering social insur-nsus Bureau surveys of State andent funds, adjusted to a calendaryear basis; for other labor income,are Financing Administration, and of State and local governments,ear basis from a fiscal year basis.

For wages and salaries, derivBureau of Labor Statistics employment times earningsBureau of Labor Statistics ment cost index, if availabwise, judgmental trend. Focompensation, judgmental

n place from Census Bureaurvey.

Same as annual.

l consumption expenditures for See entries under personal ction expenditures for servic


Same as annual.

Total expenditures from Censusnsuses and annual surveys of Stateselectively replaced with sourceopriate for the NIPA’s and adjusted; for netting and grossing dif-year basis from a fiscal year basis;es; to exclude interest, subsidies,

ernment enterprises, and transfere compensation and structures.ntal trend.


• September

Tab d

Component (dollar

cek po

: Sourceepare an

m

Compensatiemployee($4,426.9)

a bboe

th, nd

nd sala-f Laborent; for oth-

tond

theandry per-he De-

ey

r Statis-mesabor Sta-ex, if

ental

t— onre as

al

erivedloyees

for Staterams,

en Ae

—reen

Erelat—onistet—rae

See footnotes


billions ofs)



an extra

Income side (Gross national inco

on ofs 6

Wage and salary accruals:Private industries($2,991.0)

For most industries, annuof employees coveredfrom the Bureau of Lafrom a variety of sourcculture for farms and railroad transportation)come on tax returns a

Wage and salary accruals:Federal Government($177.2)

For civilians, wages fromment; for military persUnited States prepareBudget.

Wage and salary accruals:State and local govern-ments($465.4)

Mainly tabulations of wagered by State unemploLabor Statistics.

Employer contributions forsocial insurance($385.7)

Years except most recenrity Administration andinsurance programs, aand local government endar year basis from

Most recent year—Censufunds, adjusted to a cbasis.

Other labor income: Grouphealth insurance($262.7)

Years except 3 most recHealth Care Financingtributions from the Burpenditure survey.

Three most recent yearspensation from the Bu

Other labor income: Pen-sion and profit-sharing($94.8)

Years except 2 most recment of Labor.

Two most recent years—pensation from the BuRevenue Service tabu

Other labor income: Work-ers’ compensation($37.0)

Years except most recensources and contributiSocial Security Admin

Most recent year—JudgmOther labor income: Group

life insurance(7.4)

Years except most recenemployer share from t

Most recent year—Judgm at end of table.




extrapolator

e of $7,697.6 billion for 1996)

l tabulations of wages and salariesy State unemployment insurancer Statistics; for remainder, wages

s (such as the Department of Agri-e Railroad Retirement Board foradjusted for understatement of in- for several coverage differences.

For most industries, wages aries derived from Bureau oStatistics monthly employmtimes earnings times hoursers, judgmental trend.

he Office of Personnel Manage-nel, wages from the Budget of theby the Office of Management and

For civilians, employment fromBureau of Labor Statistics judgmental trend; for militasonnel, employment from tpartment of Defense andjudgmental trend.

s and salaries of employees cov-ment insurance from the Bureau of

Derived from Bureau of Labotics monthly employment tiearnings from Bureau of Ltistics employment cost indavailable, otherwise judgmtrend.

Tabulations from the Social Secu-ther agencies administering social

d Census Bureau surveys of Statetirement funds, adjusted to a cal- fiscal year basis. Bureau surveys of State retirementendar year basis from a fiscal year

For Federal programs, BEA-dwages and salaries of empcovered by the programs; and local government progjudgmental trend.

t—Total contributions from thedministration less employee con-

au of Labor Statistics consumer ex-

Employer costs for employee com-au of Labor Statistics.

Judgmental trend.

t—Tabulations from the Depart-

mployer costs for employee com-au of Labor Statistics or Internaltions of business tax returns.

Judgmental trend.

Employer contributions from trades for self-insured plans from theration.ntal trend.

Judgmental trend.

Group premiums and estimates ofde sources.ntal trend.

Judgmental trend.

September •

Tab d

Component (dollar

cek po

: Sourceepare an

$

Proprietors’with IVA CCAdj($520.3)

Assgey eabA

cation ofannualfor live-ultureh re-bothrly allo-riculture

rnmentduction

d

t—be

n ae

ent year.

r

d

Rental incompersons wCCAdj($146.3)

edp iS iniena

terl

nt, same, inter-IPA es-ts; forl trend.

nrutewi w

nttec Su

d

l tt—tee

ent year.

d

See footnotes


billions ofs)



an extra

Income side (Gross national income of

incomeand

Farm income with IVA($45.0)

Based on Department oftained by deriving groketing, inventory chanincome, and nonmoneexpenses, adjusted tonal Revenue Service tand adjusted to a NIP

Farm CCAdj(–$7.8)

See entry for ‘‘CCAdj’’ un

Nonfarm income($455.3)

Years except most recenService tabulations of derstatement of incomceptual differences.

Most recent year—For cocators of activity (suchfor most others, judgm

Nonfarm IVA(–$0.2)

See entry for ‘‘IVA’’ undeCCAdj.

Nonfarm CCAdj($28.0)


e ofith

Owner-occupied nonfarmhousing($109.7)

Benchmark years—Derivfarm dwellings’’ under less related expenses,from Bureau of Labor iture survey, mortgageCensus Bureau decen

Other years—Same as bterest, based on mortgBoard times a BEA inCensus Bureau quartecollections.

Tenant-occupied nonfarmhousing($52.7)

Same as owner-occupiedonly rental income accgaged in the real esta

Farms owned by nonopera-tor landlords($6.8)

Prepared in conjunction entry for ‘‘farm incomewith IVA and CCAdj.

Nonfarm nonresidentialproperties($15.8)

Years through 1983—Reand government, adjusproperty (mainly deprefrom Internal Revenuereturns, Census BureaUnited States prepareBudget.

Other years—JudgmentaRoyalties

($8.3)Years except most recen

tions of royalties reporMost recent year—Judgm

CCAdj(–$47.0)


at end of table.




extrapolator

7,697.6 billion for 1996)—Continued

griculture data on net income, ob- income (cash receipts from mar-, government payments, other cashincome) and subtracting productionxclude corporate income from Inter-ulations of business tax returns

basis.

For crops, BEA quarterly alloDepartment of Agriculture projections of crop output; stock, Department of Agricquarterly projections of casceipts and inventories; for crops and livestock, quartecation of Department of Agannual projections of govesubsidy payments and proexpenses.

er consumption of fixed capital.

Income from Internal Revenueusiness tax returns, adjusted for un-on tax returns and for several con-

struction, trade, and services, indi-s value of housing put in place);

ntal trend.


corporate profits with IVA and


as space rent (see entry for ‘‘non-ersonal consumption expenditures)ncluding maintenance and repairtatistics quarterly consumer expend-nterest, and property taxes fromal survey of residential finance.chmark years, except mortgage in-

ge debt from the Federal Reserverest rate, and property taxes fromy surveys of State and local tax

For owner-occupied space reas annual; for depreciationest, and taxes, based on Ntimates of those componenother expenses, judgmenta

onfarm housing, adjusted to covering to persons not primarily en- business.

Same as annual.

th farm proprietors’ income; seeith IVA’’ under proprietors’ income

Judgmental trend.

s paid and received by businessd for expenses associated with

iation, taxes, interest, and repairs)ervice tabulations of business tax

surveys, and the Budget of theby the Office of Management and

rend.

Judgmental trend.

Internal Revenue Service tabula-d on individual income tax returns.ntal trend.



• September

Tab d

Component (dollar

cek po

: Sourceepare an

$

Corporate pwith IVA CCAdj($735.9)

t—e m

d fs,y

ortation

s, sameyear.inaryst, sec- of final

rter.)b

tmorf

n samets before

iddd r bccg tholarod

Net interest($425.1)

t— fdemr tedorme araA e

es of (1)s, (2)nd re-id byal trend;tatement

l trend

deralesti-

eleasedestic

b

tmorf

n samets before

See footnotes


billions ofs)



an extra


rofitsand

Domestic profits before tax($580.7)

Years except most recenternal Revenue Servicadjusted for understatefor several conceptual

Most recent year—Profitsvey of corporate profitcompilations of publiclments.

Rest-of-the-world profits be-fore tax($95.9)

Estimated as part of the direct investment incomcome, Treasury Deparcoverage of U.S. territ‘‘exports and imports ogoods and services.

IVA(–$2.5)

The IVA on the income ssole proprietorships anproduct side (describeness inventories) diffeferent proportions of a(LIFO), etc.) underlyinside IVA is based on relationship between nRevenue Service tabunon-LIFO inventories f

CCAdj($61.8)


Domestic monetary, net($87.6)

Years except most recenof Agriculture surveys;paid, Census Bureau and mortgage debt froa BEA interest rate; foceived by business, Inbusiness tax returns, aturns and for several c

Most recent year—For faas other years; for othments from regulatoryposit Insurance Corpotained by applying BEassets/liabilities from Faccounts.

Rest-of-the-world monetary,net(–$76.4)

Estimated as part of the direct investment incomcome, Treasury Deparcoverage of U.S. territ‘‘exports and imports ogoods and services.

at end of table.




extrapolator


Receipts less deductions from In-tabulations of business tax returns,ent of income on tax returns and

ifferences.rom Census Bureau quarterly sur- regulatory agency reports, andavailable corporate financial state-

For some industries in transpand some in finance, etc.,judgmental trend; for otheras annual for most recent (Released at time of prelimestimate of GDP for the firond, and third quarters andestimate for the fourth qua

alance of payments accounts: Fore, BEA surveys; for portfolio in-ent surveys. Adjusted for NIPA

ies and Puerto Rico—see entry forgoods, net,’’ under net exports of

Same as annual. (Released oschedule as domestic profitax.)

e (for corporations and for nonfarm partnerships) and the IVA on theunder the entry for change in busi-ecause the source data reflect dif-ounting methods (last-in, first-outreported inventories. The income-e product-side IVA, adjusted by then-LIFO inventories from Internaltions of business tax returns andm the Census Bureau.

Same as annual.


For farm interest paid, Departmentor residential mortgage interestcennial residential finance survey the Federal Reserve Board timesmost other interest paid and re-rnal Revenue Service tabulations ofjusted for misreporting on tax re-nceptual differences. and mortgage interest paid, same

r interest, interest receipts and pay-gencies (such as the Federal De-tion), from trade sources, or ob-interest rates to interest-bearingderal Reserve Board flow-of-funds

Derived by combining estimatinterest received by persongovernment interest paid aceived, and (3) interest papersons. For (1), judgmentfor (2), Monthly Treasury Sfor Federal and judgmentafor State and local; for (3),consumer debt from the FeReserve Board times BEA mates of interest rates. (Ron same schedule as domprofits before tax.)

alance of payments accounts: Fore, BEA surveys; for portfolio in-ent surveys. Adjusted for NIPA

ies and Puerto Rico—see entry forgoods, net,’’ under net exports of

Same as annual. (Released oschedule as domestic profitax.)

September •

Tab d

Component (dollar

cerkr

: Sourceepare an

$

Net interestContinued

onp

ev ae

heaie(ance

on samets before

Business trapayments($33.6)

r ter,nacmd

Indirect busand nontaliability($604.8)

onntsh re

Treasury taxes,activityn for

this

urver

Subsidies lecurrent sgovernmeenterprise($25.4)

bnd Sgee

lcuon

edit Cor-ental

umptionerivedlcula- onvest-

raadis.inf eann

p, (2

t fre

See footnotes


billions ofs)



years, used to prepa


— Imputed—banks, creditagencies, and invest-ment companies($180.1)

Property income earned tary interest paid to deprofits from Internal Rness tax returns) fromcies and the Federal Rnancial services furnispersons, government, basis of deposit liabilit

Imputed—life insurancecarriers and private non-insured pension plans($233.7)

Property income earned its) from Internal Revetax returns, trade sour

nsfer Payments to persons: Foexcept most recent, Inbusiness tax returns otrend; for other compopersonal injury), for yefrom government agenmost recent year, judgof the world: Estimateaccounts.

iness taxx

Federal Government($95.8)

For excise taxes, collectibacco, and Firearms acustoms duties, receipand for nontaxes (sucof the United States pand Budget.

State and local govern-ments($508.9)

Receipts from Census Bnual and quarterly surbasis from a fiscal yea

ssurplus ofnts

Federal Government($37.7)

For subsidies, payments from agency reports afrom Monthly Treasuryly reports of various aand consumption of fixperpetual-inventory cagross investment and

State and local govern-ments(–$12.3)

For subsidies, limited to veys of expenditures, from a fiscal year basoperating receipts, mareau annual surveys ojusted to a calendar ycurrent operating expeand local investment ipenditures, except comital, brokerage chargeswithout payment’’ and of general governmenconsumption expenditu

at end of table.


data and methods used to deter- and other final years or, for othere an extrapolator or interpolator


extrapolator


investment of deposits and mone-ositors (and for mutual depositories,enue Service tabulations of busi-nnual reports of regulatory agen-serve Board. Imputed interest (fi-d without payment) is allocated to

nd the rest of the world on thes from the same sources.

Judgmental trend.

nd for life insurance carriers, prof-ue Service tabulations of businesss, and the Federal Reserve Board.

Judgmental trend. (Released schedule as domestic profitax.)

charitable contributions, for yearsrnal Revenue Service tabulations of

for most recent year, judgmentalents (such as liability payments forrs except most recent, informationy reports and trade sources or, forental trend. Payments to the restas part of the balance of payments

Judgmental trend.

s from the Bureau of Alcohol, To-d the Internal Revenue Service; for from Monthly Treasury Statement;as fines), receipts from the Budgetpared by the Office of Management

For customs duties, Monthly Statement; for most excisederived from indicators of (such as gasoline productiogasoline tax); for others ingroup, judgmental trend.

eau quinquennial censuses and an-ys, adjusted to a calendar yearbasis.

Judgmental trend.

y the Commodity Credit Corporation, for most other agencies, outlaystatement; for current surplus, main-ncies, such as the Postal Service,d capital estimates derived withlations at current cost, based on investment prices.

For subsidies, Commodity Crporation reports and judgmtrend; for current surplus,judgmental trend and consof fixed capital estimates dwith perpetual-inventory cations at current cost, basedgross investment and on inment prices.

ilroad, Census Bureau annual sur-justed to a calendar year basis For current surplus: For currently revenue data from Census Bu-State and local governments, ad-r basis from a fiscal year basis; for

ditures, see entries (1) for ‘‘Stateequipment and consumption ex-ensation, consumption of fixed cap-and financial services furnished) for ‘‘State and local consumptionixed capital’’ under Governments and gross investment.

Judgmental trend.

• September

Tab d

Component (dollar

cerkr

: Sourceepare an

$

Consumptiofixed cap($830.1)

laonlaonlaont—roabn

oroumm

epipprfixfae e

s, dto

1. Includes $1military personne

2. The retail-goods’’ is basedof PCE for gaso(that include gogoods.’’

3. Also referreinsurance carrier

4. Includes $0

stses, nurses’

h$5.4 billion

fo


billions ofs)



years, used to prepa


n ofital

Government:($147.4)

General government($125.1)


Government enterprise($22.3)


Private:($682.7)


Capital consumption allow-ances($709.9)

Years except most recenand of nonfarm sole pnal Revenue Service tadjusted for several cociation (including noncand owner-occupied htions; for accidental daported to insurance co

Most recent year—For dfarm sole proprietorshof tax-return-based deaccidental damage to

Less: CCAdj($27.1)

For corporations and nonnerships, the differenctions and perpetual-inving noncorporate farmoccupied houses), thetory calculations at his

0.6 billion for food produced and consumed on farms, standard clothing issued tol, and used trucks.

control method cited under ‘‘personal consumption expenditures (PCE) for most on retail trade sales data that include sales of gasoline service stations. Estimatesline and oil are derived separately and are deducted from the retail-control totals

ods sold by gasoline service stations) to derive the estimates for ‘‘PCE for most

d to as ‘‘services furnished without payment by financial intermediaries, except lifes and private noninsured pension plans.’’.5 billion for brokers’ commissions on sale of structures and net purchases of used


data and methods used to deter- and other final years or, for othere an extrapolator or interpolator


extrapolator



Same as annual.


Same as annual.


Same as annual.

For depreciation of corporationsprietorships and partnerships, Inter-ulations of business tax returns,ceptual differences; for other depre-porate farms, nonprofit institutions,ses), perpetual-inventory calcula-age to fixed capital, losses re-panies and government agencies.reciation of corporations and non-

s and partnerships, BEA estimateseciation; for other depreciation anded capital, same as other years.

Judgmental trend.

rm sole proprietorships and part-between tax-return-based calcula-ntory calculations; for other (includ- nonprofit institutions, and owner-ifference between perpetual-inven-rical cost and current cost.

Judgmental trend.

ructures.5. Includes –$1.0 billion for other structures (dormitories, fraternity and sorority hou

omes, etc.) and net purchases of used structures.6. Includes –$2.6 billion for wage and salary accruals: Rest of the world, net, and r other labor income: Supplemental unemployment, directors’ fees, and judicial fees.CCAdj Capital consumption adjustmentIVA Inventory valuation adjustmentNIPA National income and product accountSource: 1996 estimates—SURVEY OF CURRENT BUSINESS, August 1997.

September •

re

Compon

ric

uation

Personalconsumpexpenditu

urepoI.

... in twoargin,

fromces withginsus Bu-rade) nets, netunittos helders byginald by de-riginalse-year

gnxete

...

See footnotes

Table 2.—Methodology Used in P

ent Subcomponent

Deflation, using p

Components ofthe Consumer

Price Index (CPI)or the Producer

Price Index (PPI)

tionres

Durable and nondurablegoods:

Most goods (except sub-components listed sepa-rately).

Except as noted,CPI; militaryclothing, PPI.

CompBuimPP

New autos ........................... CPINet purchases of used

autos.............................. ........

New trucks .......................... CPIGasoline and oil .................. CPIFood furnished to employ-

ees (including military).CPI

Expenditures abroad byU.S. residents less per-sonal remittances in kindto nonresidents.

............................. Foreidejus

Services:Nonfarm dwellings—space

rent for owner-occupiedand rent for tenant-occu-pied.

CPI

Rental value of farm dwell-ings.

............................. ........

at end of table.

paring Estimates of Real GDP

e based on— Using quantity for—

Other Extrapolation Direct val

ters, BEA price index,au of Labor Statisticsrt price indexes, and

..................................... ........................................... Used autos, parts: (1) Munit sales trade sourdealer marfrom Censreau and tsources; (2transactionchange in stock of auby consumyear of orisale, valuepreciated ovalue in badollars.

consumer price in-s (exchange-rate ad-d).

..................................... Net value of farm housingstock from BEA capitalstock series.

• September

ng

Compon

ric

uation


temuaninae

are

cou

...

e er Drtad vaAu

See footnotes

Table 2.—Methodology Used in Prepari

ent Subcomponent

Deflation, using p



Price Index (PPI)

tionres—


Motor vehicle and other re-pair, other purchasedintercity transportation,legal and funeral serv-ices, barbershops andbeauty parlors, nursinghomes, laundries, em-ployment agency fees,accounting and tax returnpreparation services,recreation (except cableTV, casino gambling,parimutuel net receipts,and lotteries), hotels andmotels, and other edu-cation and research.

Except as noted,CPI; privatefor-profit nurs-ing homes,PPI.

PrivahoinpHemiterothseind

Physicians, dentists, andother professional medi-cal services.

Except as noted,CPI; physi-cians, PPI.

Private nursery, elementary,and secondary schools,day care, welfare activi-ties, and trade unionsand professional associa-tions.

............................. BEA inp

Public education and hos-pitals, water and othersanitary services, andlotteries.

Except as noted,CPI; publichospitals, PPI.

Financial services furnishedwithout payment bybanks, credit agencies,and investment compa-nies. 1

............................. ........

Brokerage charges and in-vestment counseling,bank service charges,intercity transportationexcept other, and privatehigher education.

Except as noted,CPI.

AirlinindpethepoanpriBEinp

Domestic services ............... CPI at end of table.

Estimates of Real GDP—Continued



nonprofit nursinges, composite index oft prices from thelth Care Financing Ad-stration; clubs and fra-l organizations, and

r education and re-ch, BEA compositex of input prices.

mposite indexes oft prices.

..................................... Paid employee hours ofrelevant financial institu-tions.

transportation, BEAx based on revenuepassenger mile from

epartment of Trans-tion and trade source,CPI for airline fares;te higher education, composite index oft prices.

Stock brokerage charges,BEA orders, derivedfrom volume data fromthe Securities and Ex-change Commissionand trade sources.

September •

ng

Compon

ric

uation


nstivevamceretiogn innsc...

Fixed investomelroevederadecitms

ing curregnsstnitms

See footnotes


ent Subcomponent

Deflation, using p



Price Index (PPI)

tionres—


Insurance, private hospitals,religious activities, cableTV, utilities, and localtransport.

Except as noted,CPI; privatefor-profit hos-pitals, PPI.

Life iacindpricopriCatra

Foreign travel by U.S. resi-dents less expendituresin the United States bynonresidents.

Expenditures inthe UnitedStates, CPI.

Foreiiteco(ex

Other services: Casinogambling, and parimutuelnet receipts; other hous-ing except hotels andmotels; bridge, etc., tolls;other household oper-ation except repairs andinsurance; travel and en-tertainment card fees;stenographic and repro-duction services; andmoney orders and classi-fied advertising.

Except as noted,CPI.

........

ment Nonresidential structures:Utilities ................................. Gas and petro-

leum pipelines,PPI.

Telecindraiothgotra

Mining exploration, shafts,and wells.

Casing, PPI ........ Explotraplifaring

Nonfarm buildings andstructures.

............................. BuildonsoBusincocome

Farm buildings .................... ............................. Implicfaring

at end of table.




urance and religiousities, BEA compositexes of input prices;te nonprofit hospitals,posite index of inputs from the Health Financing Adminis-n.

Auto insurance, premiumsdeflated by CPI; healthinsurance, benefits de-flated by CPI.

travel, BEA compos-dex of foreignumer price indexeshange-rate adjusted)...................................... Parimutuel net receipts,

gross winnings deflatedby CPI.

munications, costx from trade source;ads, BEA price index;r, cost indexes fromrnment agencies and sources.tion, cost index from source; mines, im-

price deflator for non- nonresidential build-.

Drilling, footage by geo-graphic area from tradesource.

s, BEA index basedost index from tradece and on Censusau price deflator forle-family houses undertruction; structures, indexes from govern-t agencies. price deflator for non- nonresidential build-.

• September

ng

Compon

ric

uation

Fixed investContinued

rtemioLaced ALace... in two

argin,fromces withginsus Bu-rade) nets, netunittos helds byginald by de-riginalse-year

co

pr

us sdepr

ioAs sdeI ...

See footnotes


ent Subcomponent

Deflation, using p



Price Index (PPI)

ment— Nonresidential producers’durable equipment:

Equipment, except autos,telephone and telegraphinstallation, and tele-phone switching equip-ment.

Domestic compo-nents, exceptas noted, PPI;imported trans-portationequipment,PPI.

Impocotatof prianBEof pri

New and used autos .......... New autos, CPI. ........

Telephone and telegraph in-stallation.

............................. BEA

Telephone switching equip-ment.

............................. BEA

Residential investment:Permanent-site new single-

family housing units.............................. Cens

forun

Permanent-site new multi-family housing units.

............................. BEA

Mobile homes ...................... PPIImprovements ...................... Major replace-

ments, CPI.Addit

BEsuforunCP

Brokers’ commissions ......... ............................. ........

Producers’ durable equip-ment.

CPI

at end of table.




d components, exceptputers and transpor-n equipment, Bureaubor Statistics import indexes; domesticimported computers, price index, Bureaubor Statistics import indexes, and PPI...................................... ........................................... Used autos,

parts: (1) Munit sales trade sourdealer marfrom Censreau and tsources; (2transactionchange in stock of auby businesyear of orisale, valuepreciated ovalue in badollars.

st index.

ice index.

Bureau price deflatoringle-family housesr construction.ice index.

ns and alterations, index based on Cen-Bureau price deflatoringle-family housesr construction andcomponent...................................... Numbers of new and used

houses sold from Cen-sus Bureau and tradesources.

September •

ng

Compon

ric

uation

Change inbusinessinventorie

E

niALacepo trLace

d pricesf coal,

and nat-r utilitiesnergy In-dminis-

inst

rtmg

Net exportsgoods anservices 2

upoxertsleereesndcem imxeboceryfero Fsfixlorepoxed n

rvecee d teflam

See footnotes


ent Subcomponent

Deflation, using p



Price Index (PPI)

s

Nonfarm: Purchased goods,all industries.

Except as noted,PPI.

CrudethemiBEof priimbyof pri

Nonfarm: Work-in-processand finished goods, man-ufacturing.

Except as noted,PPI; someoverhead costitems, CPI.

BEA co

Farm .................................... ............................. Depaera

ofd

Exports and imports ofgoods. 2

Gold; transpor-tation equip-ment; selectedagriculturalfoods, feeds,and bev-erages; andselected im-ports of refinedpetroleum, PPI.

BureaexdepotroindButiticopricotordeLapri

Exports and imports ofservices. 2

Travel receipts,medical re-ceipts, andstudents’ ex-penditures,CPI; freightand port ex-penditures andtelecommuni-cations, PPI.

Militadeabforfenof beBuexdeanmeseindpriratanvadedo

at end of table.




petroleum, index fromnergy Information Ad-

stration; computers, price index, Bureaubor Statistics import indexes, and PPI;rted goods purchasedade industries, Bureaubor Statistics import indexes.

........................................... Quantities anof stocks opetroleum,ural gas fofrom the Eformation Atration.

dexes of unit labor.

ent of Agriculture av-e market prices..

of Labor Statisticsrt and import price in-s; electric energy ex- and imports, and pe-um imports, unit-valuexes based on Censusau values and quan-; computer and semi-uctor exports, BEA indexes and PPI;puter and semiconduc-

ports, BEA price in-s and Bureau ofr Statistics import indexes. transfers and directnse expendituresad, selected deflatorsederal national de-

e, except consumptioned capital (see

w); passenger fares,au of Labor Statisticsrt and import price in-s; travel paymentsU.S. Government pay-ts for miscellaneousices, BEA compositex of foreign consumer indexes (exchange-adjusted); royaltiesfees, and other pri- services, implicit pricetor for final sales toestic purchasers.

Exports of financial serv-ices furnished withoutpayment, 1 paid em-ployee hours of rel-evant financial institu-tions.

• September

ng

Compon

ric

uation

Governmentconsumpexpenditugross inv

... entorys, basedvest-

gd es Dces,ticmeti

xelitaxed

somend a fewuctures,and Depart-fensectricityl gasfrom thet of En-


tudenALacesborn

s of ag-ommod- Com-dit Cor-uantitiesm agen-with De-f Agri-es; se-oleums, quan-ricesepart-ergy.

...

inuren

See footnotes


ent Subcomponent

Deflation, using p



Price Index (PPI)

tionres andestment

Federal national defenseconsumption of generalgovernment fixed capital.

............................. ........

Federal national defense,except consumption ofgeneral government fixedcapital.

Selected goods,PPI; utilitiesand commu-nications, CPIand PPI.

SomeanturonpriicetiscoindStademidean

Federal nondefense con-sumption of general gov-ernment fixed capital.

............................. ........

Federal nondefense, exceptconsumption of generalgovernment fixed capital.

Most goods, PPI;rent, utilities,and commu-nications, CPI.

StructrameBEof primoLaea

State and local compensa-tion of general govern-ment employees.

............................. ........

State and local structures. ............................. Cost soag

at end of table.




..................................... ........................................... Perpetual-invcalculationon gross inment.

oods, some services,most military struc-, BEA indexes basedepartment of Defenses paid; some serv- Bureau of Labor Sta-s monthly earnings;puters, BEA pricex, Bureau of Laborstics import price in-s, and PPI; non-ry structures, cost in-s from trade sourcesgovernment agencies.

Military compensation, full-time equivalent employ-ment by rank andlength of service; civil-ian compensation, full-time equivalent employ-ment by grade, ad-justed for change frombase year in hoursworked.

Many goods,services, amilitary strquantities prices fromment of Dereports; eleand naturaquantities Departmenergy.


res, cost indexes from sources and govern-

t agencies; computers, price index, Bureaubor Statistics import indexes, and PPI;t services, Bureau ofr Statistics monthlyings.

Compensation, full-timeequivalent employmentby grade, adjusted forchange from base yearin hours worked; finan-cial services furnishedwithout payment, 1 paidemployee hours of rel-evant financial institu-tions.

Net purchasericultural cities by themodity Creporation, qby crop frocy reports partment oculture priclected petrtransactiontities and pfrom the Dment of En

..................................... Employees in education,full-time equivalent em-ployment by educationand experience, ad-justed for change frombase year in hoursworked; other employ-ees, full-time equivalentemployment, adjustedfor change from baseyear in hours worked.

dexes from tradeces and governmentcies.

September •

ng

Compon

ric

uation

GovernmentconsumpexpenditugrossinvestmenContinued

nns s


pstxenidceboce

1. Also referreinsurance carrier

2. Estimates receipts and pa

a mestic pur-ch lation usingp


ent Subcomponent

Deflation, using p



Price Index (PPI)

tionres and

t—

State and local brokeragecharges and financialservices furnished with-out payment.

............................. See ecofor

State and local consump-tion of general govern-ment fixed capital.

............................. ........

State and local investmentin equipment and con-sumption expenditures,except compensation,consumption of fixedcapital, brokeragecharges, and financialservices furnished with-out payment.

Services, exceptas noted, andgoods used inmaintenanceand repair,CPI; goods,except asnoted, andelectricity, PPI.

TranspodemepapriLapri

d to as ‘‘services furnished without payment by financial intermediaries, except lifes and private noninsured pension plans.’’of real exports and imports of goods and services are prepared separately. Realyments of factor income from the rest of the world—the difference between GDP




tries under personalumption expenditureservices.


ortation, books, andal services, BEA in-s based on Depart-t of Defense prices; computers, BEA index, Bureau ofr Statistics import indexes, and PPI.

nd GNP—are prepared by deflation using the implicit price deflator for final sales to doasers except for imputed interest paid to nonresidents, which is prepared by extrapo

aid employee hours of relevant institutions.

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