Business Services Industry
Updated summary NIPA methodologies
Survey of Current Business, Nov, 2004
Table 1. Source Data and Methods for Current-Dollar GDP and
Current-Dollar GDI
Component Annual estimates:
Source data and methods used to
determine level for benchmark and
other years or used to prepare an
extrapolator or interpolator
Gross domestic product of $11,004.0 billion for 2003
Personal consumption expenditures ($7,760.9 billion)
Durable and nondurable goods ($3,150.8 billion) (1)
Most durable and Benchmark years. Commodity-flow
nondurable goods method, starting with
except those listed manufacturers' shipments from
below ($2,569.8 billion) (2) Census Bureau quinquennial
census and including an
adjustment for exports and
imports from Census Bureau
foreign trade data.
Other years. Retail-control
method, using retail sales from
Census Bureau annual survey of
retail trade or, for the most
recent year, monthly survey of
retail trade.
New autos ($97.5 billion) Benchmark years. Commodity-flow
method, starting with
manufacturers' shipments from
Census Bureau quinquennial
census and including an
adjustment for exports and
imports from Census Bureau
foreign trade data.
Other years. Physical quantity
purchased times average retail
price: Unit sales, information
to allocate sales among
consumers and other purchasers,
and average list price with
options, all from trade sources.
Transportation charges, dealer
discounts, and rebates from
Bureau of Labor Statistics (BLS)
monthly survey of auto sales
prices. Sales tax rate from
Census Bureau annual survey of
retail trade.
Net purchases of used Benchmark years. For net transac-
autos and used light tions, residual based on net
trucks ($107.4 billion) sales by other sectors. For
dealers' margin, retail sales
from Census Bureau quinquennial
census and margin rate from
Census Bureau annual survey of
retail trade.
Other years except the most recent
year. For net transactions,
change in consumer stock of
autos from trade sources. For
dealers' margin, for franchised
dealers, unit sales and sales
price from trade sources times
margin rate for independent
dealers from Census Bureau
annual survey of retail trade;
for independent dealers, margin
from Census Bureau annual survey
of retail trade.
Most recent year. For net transac-
tions, same as other years
except the most recent. For
dealers' margin, for franchised
dealers, unit sales and sales
price from trade sources; for
independent dealers, sales from
Census Bureau monthly survey of
retail trade.
New light trucks (including Benchmark years. Commodity-flow
utility vehicles) ($168.5 method, starting with manufac-
billion) turers' shipments from Census
Bureau quinquennial census and
including an adjustment for
exports and imports from Census
Bureau foreign trade data.
Other years except the most recent
year. Abbreviated commodity-flow
method, starting with manufac-
turers' shipments from Census
Bureau annual survey and inclu-
ding an adjustment for exports
and imports from Census Bureau
foreign trade data.
Most recent year. Physical quanti-
ty purchased times average
retail price: Unit sales,
information to allocate sales
among consumers and other pur-
chasers, and average list price,
all from trade sources.
Gasoline and oil ($191.3 Benchmark years. Physical quantity
billion) (2) purchased times average retail
price: Gallons consumed from the
Department of Transportation;
information to allocate that
total among consumers and other
purchasers from Federal agencies
and trade sources; average
retail price from the Energy
Information Administration
(EIA).
Other years except the most recent
year. Same as benchmark years.
Most recent year. Physical
quantity purchased times average
retail price: Gallons consumed
and average price from EIA.
Food furnished to Benchmark years. For commercial
employees (including employees, number of employees
military) ($10.4 billion) of relevant industries from BLS
tabulations times BEA estimate
of per capita expenditures for
food; for military personnel,
outlays from the Budget of the
United States prepared by the
Office of Management and Budget
(OMB).
Other years. Same as benchmark
years except per capita
expenditures for food based on
BLS consumer price index (CPI)
for food.
Expenditures abroad by Estimated as part of the interna-
U.S. residents ($6.6 tional transactions accounts;
billion) less personal see the entry for exports and
remittances in kind to imports of services under net
nonresidents ($1.8 exports of goods and services.
billion)
Services ($4,610.1 billion)
Nonfarm dwellings: Space Benchmark years. Based on data on
rent for owner-occupied housing stock and average annual
dwellings and rent for rent from Census Bureau decen-
tenant-occupied nial census of housing and
dwellings ($1,121.8 survey of residential finance,
billion) adjusted for utilities included
in rent.
Other years. Based on data on
housing stock and average annual
rent from Census Bureau biennial
housing surveyor on the number
of housing units from Census
Bureau monthly current popula-
tion survey and BLS CPI for
rent.
Rental value of farm U.S. Department of Agriculture
dwellings ($11.9 billion) (USDA) data on gross rental
value of farm dwellings.
Motor vehicle repair, Benchmark years. Receipts and
rental, and other expenses from Census Bureau
services; other repair quinquennial census adjusted for
services; other receipts from business and
purchased intercity governments.
transportation; legal and Other years. For educational ser-
funeral services; barber- vices not elsewhere classified
shops, beauty parlors, and foundations, BLS annual
and health clubs; tabulations of wages and sala-
nursing homes; ries of employees covered by
laundries; employment state unemployment insurance
agency fees; accounting (UI); for others in this group,
and tax return prepar- receipts and expenses from
ation services; recrea- Census Bureau service annual
tion (except cable TV, survey.
parimutuel net receipts,
lotteries, and computer
online services); hotels
and motels; commercial
business, trade, and
correspondence
schools; educational
services not elsewhere
classified; research
organizations and
foundations ($785.0
billion)
Physicians, home health Benchmark years. For nonprofit
care, medical professional services, expenses,
laboratories, eye and for others in this group,
examinations, all other receipts, adjusted for govern-
professional medical ment consumption, all from
services ($578.3 billion) Census Bureau quinquennial
census.
Other years. Receipts and expen-
ses, adjusted for government
consumption, from Census Bureau
service annual survey.
Private nursery schools, Benchmark years. For elementary
elementary and and secondary schools, expenses
secondary schools, day from the Department of Educa-
care, welfare activities, tion; for nursery schools and
political organizations, day care, expenditures from BLS
foundations, and trade consumer expenditure survey; for
unions and professional others in this group, receipts
associations ($214.3 and expenses from Census Bureau
billion) quinquennial census.
Other years. For nursery schools
and day care, same as benchmark
years; for welfare activities,
receipts and expenses from
Census
Bureau service annual survey; for
others in this group, BLS annual
tabulations of wages and sala-
ries of employees covered by
state UI.
Financial services See the entry for banks, credit
furnished without agencies, and investment
payment by banks, other companies under net interest and
depository institutions, miscellaneous payments.
and investment
companies ($195.2
billion) (3)
Brokerage charges and All years except the most recent
investment counseling, year. For private higher
bank service charges, education, expenses, and for
intercity transportation others in this group, receipts
except "other," and from annual reports of govern-
private higher education ment administrative agencies.
($246.8 billion) Most recent year. For brokerage
charges, bank service charges,
and intercity transportation,
receipts from annual reports of
government administrative
agencies; for investment
counseling, receipts from Census
Bureau service annual survey;
for private higher education,
enrollment from the Department
of Education times price index
for higher education from trade
source.
Domestic service ($18.5 Benchmark years. For cleaning
billion) services, receipts from Census
Bureau quinquennial census; for
other domestic services, number
of workers times weekly hours
times earnings from BLS.
Other years. Number of workers
times weekly hours times
earnings from BLS.
Public education and All years except the most recent
hospitals, water and year. For lotteries, net
other sanitary services, receipts from Census Bureau
and lotteries ($250.4 quinquennial census and annual
billion) surveys of state and local
governments, adjusted to a
calendar year basis from a
fiscal year basis; for others in
this group, receipts from the
same sources.
Most recent year. Judgmental
trend.
Insurance, private Benchmark years. For life insu-
hospitals, religious rance, expenses from trade
activities, cable TV, sources; for medical and hospi-
electricity, natural gas, talization insurance, premiums
telephone, and local from the Agency for Healthcare
transport ($1,066.1 Research and Quality and bene-
billion) fits based on ratio of benefits
to premiums from Census Bureau
quinquennial census; for other
insurance, premiums and divi-
dends to policyholders from
trade source, normal losses and
expected investment income
derived using incurred losses
and investment gains, respec-
tively, from trade source; for
private hospitals, receipts and
expenses from Census Bureau
quinquennial census; for cable
TV and telephone, receipts from
Census Bureau quinquennial
census; for religious activi-
ties, expenses based on contri-
butions and membership from
trade sources; for electricity
and gas, receipts from EIA; for
local transport, receipts from
trade source.
Other years except the most recent
year. For private and nonprofit
hospitals, expenses from trade
source; for private proprietary
hospitals and cable TV, receipts
from Census Bureau service
annual survey; for telephone,
receipts from the Federal
Communications Commission; for
others in this group, same as
benchmark years.
Most recent year. For life insu-
rance, wages and salaries from
BLS annual tabulations of
employees covered by state UI;
for medical and hospitalization
insurance, BLS employer costs
for employee health insurance
and wages and salaries from BLS
annual tabulations of employees
covered by state UI; for other
insurance, judgmental trend; for
private hospitals, receipts and
expenses from Census Bureau
service annual survey; for
religious activities, expenses
based on population from the
Census Bureau and per capita
disposable personal income from
BEA; for local transport,
passenger trips from trade
sources times BLS CPI for intra-
city mass transit; for electri-
city and natural gas, same as
benchmark years; for cable TV,
receipts from Census Bureau
service annual survey; for
telephone, receipts from company
reports and trade sources.
Foreign travel by U.S. Estimated as part of the interna-
residents ($79.2 billion) tional transactions accounts;
less expenditures in the see the entry for exports and
United States by non imports of services under net
residents ($86.7 billion) exports of goods and services.
Other services: Motor Various source data.
vehicle leasing;
parimutuel net receipts;
other housing except
hotels and motels;
bridge, etc. tolls; other
household operation
except repairs and
insurance; travel and
entertainment card fees;
stenographic and
reproduction services;
money orders and
classified advertising;
and computer online
services ($129.4 billion)
Fixed investment ($1,667.0 billion)
Nonresidential structures ($261.6 billion)
Commercial and health Benchmark years. BEA's benchmark
care ($111.6 billion) input-output table.
Other years. Value put in place
from Census Bureau monthly
construction survey.
Manufacturing ($14.2 Value put in place from Census
billion) Bureau monthly construction
survey.
Power and communi- Value put in place from Census
cation ($40.3 billion) Bureau monthly construction
survey.
Mining exploration, shafts, Benchmark years. Expenditures from
and wells ($35.6 billion) Census Bureau quinquennial
census.
All years except the most recent
year. For petroleum and natural
gas, physical quantity times
average price: Footage drilled
and cost per foot from trade
sources; for other mining,
expenditures from Census Bureau
annual capital expenditure
survey.
Most recent year. For petroleum
and natural gas, physical
quantity times average price:
Footage drilled and cost per
foot from trade sources extra-
polated by BLS producer price
index for oil and gas well
drilling.
Other structures ($59.9 Benchmark years. BEA's benchmark
billion) input-output table.
Other years. Value put in place
from Census Bureau monthly cons-
truction survey.
Nonresidential equipment and software ($833.1 billion)
Equipment except new Benchmark years. Commodity-flow
autos, new light trucks, method, starting with manufac-
and net purchases of turers' shipments from Census
used autos and used Bureau quinquennial census and
light trucks ($591.4 including an adjustment for
billion) exports and imports from Census
Bureau foreign trade data.
Other years. Abbreviated commo-
dity-flow method, starting with
manufacturers' shipments from
Census Bureau annual survey or,
for the most recent year (except
aircraft and heavy trucks),
monthly survey of manufactures
and including an adjustment for
exports and imports from Census
Bureau foreign trade data. For
aircraft, manufactures' ship-
ments from Census Bureau current
industrial report, adjusted for
exports and imports. For heavy
trucks, physical quantity pur-
chased times average price: Unit
sales and information to allo-
cate sales among business and
other purchasers, from trade
sources; for truck trailers,
shipments from trade source.
New autos, new light See the entries under personal
trucks, and net consumption expenditures.
purchases of used autos
and used light trucks
($75.9 billion)
Software ($165.8 billion) Benchmark years. For purchased
software, commodity-flow method,
starting with industry receipts
data from Census Bureau quin-
quennial census and including an
adjustment for exports and
imports from Census Bureau
foreign trade data; for own-
account software, production
costs based on BLS employment
data and on Census Bureau
quinquennial census.
Other years. For purchased soft-
ware, commodity-flow method,
starting with industry receipts
data from Census Bureau service
annual survey and including an
adjustment for exports and
imports from Census Bureau
foreign trade data; for own-
account software, production
costs based on BLS employment
data.
Residential investment ($572.3 billion) (4)
Permanent-site new Value put in place based on phased
single-family housing housing starts and average cons-
units ($310.6 billion) truction cost from Census Bureau
monthly construction survey.
Permanent-site new multi- Value put in place from Census
family housing units Bureau monthly construction
($35.3 billion) survey.
Manufactured homes Benchmark years. See the entry for
($7.1 billion) "Equipment, except new autos,
new light trucks, and net
purchases of used autos and used
light trucks" under nonresiden-
tial equipment and software.
Other years. Physical quantity
shipped times price: Shipments
from trade source and average
retail price from Census Bureau
monthly survey.
Improvements ($132.0 Benchmark years. For 1997, value
billion) put in place from Census Bureau
construction survey based on
expenditures by owner-occupants
from BLS quarterly consumer
expenditure survey and by
landlords from Census Bureau
quarterly survey of landlords.
Others years. A weighted 3-year
moving average of the improve-
ments estimates from Census
Bureau value put in place
construction survey.
Brokers' commissions Physical quantity times price
($80.4 billion) times BEA estimate of average
commission rate: Number of
single-family houses sold and
mean sales price from Census
Bureau monthly construction
survey and trade source.
Equipment ($8.0 billion) See the entry for "Most durable
and nondurable goods" under per-
sonal consumption expenditures.
Change in private inventories (-$1.2 billion)
Manufacturing and trade Benchmark years. Inventories from
(-$2.6 billion) Census Bureau quinquennial Cen-
suses revalued to current
replacement cost, with informa-
tion on the proportions of
inventories reported using dif-
ferent accounting methods, on
the commodity composition of
goods held in inventory, and on
the turnover period, all from
Census Bureau quinquennial cen-
suses and annual surveys, com-
bined with prices, largely based
on BLS producer price indexes.
(The difference between Census
Bureau change in inventories and
BEA change in private invento-
ries is the inventory valuation
adjustment.)
Other years except the most recent
year. Inventories from Census
Bureau annual surveys, revalued
as described above.
Most recent year. For retail auto
dealers, quantities times
average prices from trade
sources; for all other, inven-
tories from Census Bureau
monthly surveys, revalued as
described above.
Construction, mining, Benchmark years. Mining and cons-
utilities, and other nonfarm truction inventories from Census
industries ($1.2 billion) Bureau quinquennial censuses
revalued to current replacement
cost as described above for
manufacturing and trade.
Other years except the most
recent. Internal Revenue Service
(IRS) tabulations of business
tax returns, revalued as des-
cribed above.
Most recent year. Census Bureau
quarterly survey of mining cor-
porations, monthly physical
quantities from EIA combined
with BLS producer price indexes
for electric utilities, and for
all others, judgmental trend,
revalued as described above
(except when noted as physical
quantity times price).
Farm ($0.3 billion) USDA change in inventories adjus-
ted to exclude Commodity Credit
Corporation (CCC) forfeitures
and to include net CCC loans at
market value.
Net exports of goods and services (-$498.1 billion)
Exports and imports of Estimated as part of the interna-
goods, net (-$555.6 tional transactions accounts:
billion) Export and import documents
compiled monthly by the Census
Bureau with adjustments by BEA
for coverage and valuation to
convert the data to a balance-
of-payments basis. Adjusted for
the balance-of-payments coverage
of U.S. territories and Puerto
Rico with data from the Common-
wealth of Puerto Rico, the U.S.
Virgin Islands, and the Census
Bureau, and coverage of gold
transactions adjusted with data
from the U.S. Geological Survey
and trade sources.
Exports and imports of Estimated as part of the interna-
services, net ($57.6 tional transactions accounts:
billion) For government transactions,
reports by Federal agencies on
their purchases and sales
abroad; for most others in this
group (including travel, pas-
senger fares, other transporta-
tion, and royalties and license
fees), BEA quarterly or annual
surveys (supplemented with data
from other sources). Adjusted
for the balance-of-payments
coverage of U.S. territories and
Puerto Rico (see the above
entry); adjusted to include
financial services furnished
without payment (see the entry
for banks, credit agencies, and
investment companies under net
interest miscellaneous
payments).
Government consumption expenditures and gross investment
($2,075.5 billion)
Federal Government ($752.2 billion)
National defense except Within a control total established
consumption of general by fiscal year analysis: For
government fixed capital compensation, military wages
($434.9 billion) from OMB's Budget of the United
States, civilian wages and bene-
fits from the Office of Person-
nel Management (OPM), and
employer contributions for
Federal employee retirement
plans from outlays from the
Monthly Treasury Statement, for
other than compensation, by
type, based mainly on data from
Department of Defense (DOD)
reports; for software, see the
entry for software under nonre-
sidential equipment and
software.
National defense Perpetual-inventory calculations
consumption of general at current cost, based on gross
government fixed capital investment and on investment
($61.5 billion) prices.
Nondefense except Within a control total established
consumption of general by fiscal year analysis: For CCC
government fixed capital inventory change, book values of
($232.3 billion) acquisitions and physical
quantities of dispositions from
agency reports times average
market prices from USDA; for
compensation, civilian wages and
benefits from OPM and employer
contributions for Federal
employee retirement plans from
outlays from the Monthly
Treasury Statement, for
petroleum sales (Naval Petroleum
Reserve), distribution and price
data from the Department of
Energy; for research and deve-
lopment, obligations from the
National Science Foundation and
disbursements from the National
Aeronautics and Space Adminis-
tration; for construction, value
put in place from Census Bureau
monthly construction survey;
for software, see the entry for
software under nonresidential
equipment and software; for all
others, outlays from the Monthly
Treasury Statement. For finan-
cial services furnished without
payment, see the entry for
banks, credit agencies, and
investment companies under net
interest and miscellaneous
payments.
Nondefense consumption Perpetual-inventory calculations
of general government at current cost, based on gross
fixed capital ($23.4 investment and on investment
billion) prices.
State and local government ($1,323.3 billion)
Consumption All years except the 3 most recent
expenditures and gross years. Total expenditures from
investment except those Census Bureau quinquennial
items listed below census and annual surveys of
($300.7 billion) state and local governments,
selectively replaced with source
data that are more appropriate
for the NIPAs and adjusted as
follows: For coverage; for net-
ting and grossing differences;
to a calendar year basis from a
fiscal year basis; for other
timing differences; to exclude
interest, subsidies, net
expenditures of government
enterprises, and transfer pay-
ments; and to exclude compensa-
tion, software, and structures.
The 3 most recent years. Judg-
mental trend.
Compensation of general For wages and salaries, BLS annual
government employees tabulations of wages and sala-
($692.9 billion) ries of employees covered by
state UI; for employer contribu-
tions for government social
insurance, tabulations from the
Social Security Administration
and other agencies administering
social insurance programs; for
employer contributions for
employee pension and insurance
funds, data from trade sources,
Centers for Medicare and
Medicaid Services, Census Bureau
annual surveys of state and
local government retirement
funds, adjusted to a calendar
year basis from a fiscal year
basis, and Census Bureau annual
surveys of state and local
governments, adjusted to a ca-
lendar year basis from a fiscal
year basis.
Consumption of general Perpetual-inventory calculations
government fixed capital at current cost, based on gross
($95.6 billion) investment and on investment
prices.
Structures ($213.4 billion) Value of construction put in place
from Census Bureau monthly cons-
truction survey.
Software ($9.4 billion) See the entry for software under
nonresidential equipment and
software.
Brokerage charges and See the entries for brokerage
financial services charges and financial services
furnished without furnished without payment under
payment ($11.3 billion) personal consumption
expenditures.
Gross domestic income of $10,978.5 billion for 2003
Compensation of employees, paid (6,294.5 billion) (5)
Wage and salary accruals ($5,109.1 billion)
Private industries For most industries, BLS annual
($4,211.1 billion) tabulations of wages and sala-
ries of employees covered by
state UI; for others, wages from
a variety of sources (such as
USDA for farms and the Railroad
Retirement Board for railroad
transportation), adjusted for
understatement of income on tax
returns and for coverage dif-
ferences.
Federal Government For civilians, wages from OPM; for
($230.4 billion) military personnel, wages from
OMB's Budget of the United
States.
State and local BLS annual tabulations of wages
governments ($667.6 and salaries of employees
billion) covered by state UI.
Employer contributions for employee pension and insurance funds
($808.9 billion)
Group health insurance All years except the 3 most recent
($429.0 billion) years. Total contributions from
the Centers for Medicare and
Medicaid Services less employee
contributions from BLS consumer
expenditure survey.
The 3rd most recent year. Employer
costs for health insurance from
the Agency for Healthcare
Research and Quality.
The 2 most recent years. BLS
employer costs for employee
health insurance and wages and
salaries from annual tabulations
of employees covered by state
UI.
Private pension and profit- All years except the 3 most
sharing funds ($190.6 recent. Tabulations from the
billion) Department of Labor.
The 3 most recent years. Employer
costs for employee compensation
from BLS or IRS tabulations of
business tax returns.
Government employee All years except the most recent
retirement plans ($122.2 year. For Federal plans, outlays
billion) from the Monthly Treasury
Statement, for state and local
government plans, Census Bureau
annual surveys of state and
local government retirement
funds, adjusted to a calendar
year basis from a fiscal year
basis.
Most recent year. For Federal
plans, same as all years except
the most recent; for state and
local government plans, Census
Bureau annual surveys of state
retirement funds, adjusted to a
calendar year basis from a
fiscal year basis.
Workers' compensation All years except the most recent
($52.9 billion) year. Employer contributions
from trade sources.
Most recent year. Judgmental
trend.
Group life insurance All years except the most recent
($12.6 billion) year. Group premiums and
estimates of employer share from
trade sources.
Most recent year. Judgmental
trend.
Employer contributions for Tabulations from the Social Secu-
government social rity Administration and other
insurance ($376.6 billion) agencies administering social
insurance programs.
Taxes on production and imports ($798.1 billion)
Federal Government ($89.4 For excise taxes, collections from
billion) the Bureau of Alcohol, Tobacco,
Firearms and Explosives and IRS;
for customs duties, receipts
from the Monthly Treasury
Statement.
State and local Receipts from Census Bureau
governments ($708.7 quinquennial census and annual
billion) surveys, adjusted to a calendar
year basis from a fiscal year
basis.
Less: Subsidies ($46.7 billion)
Federal Government ($46.4 Payments by the CCC from agency
billion) reports and, for most other
agencies, outlays from the
Monthly Treasury Statement.
State and local For railroad and electric power,
governments ($0.3 billion) Census Bureau annual surveys of
expenditures adjusted to a
calendar year basis from a
fiscal year basis and California
administrative records.
Net operating surplus ($2,578.7 billion)
Private enterprises ($2,569.2 billion)
Net interest and miscellaneous payments ($659.3 billion) (6)
Domestic monetary All years except the most recent
interest, net ($246.6 year. For farm interest paid,
billion) USDA surveys; for residential
mortgage interest paid, Census
Bureau decennial survey of
residential finance and mortgage
debt from FRB times a BEA
interest rate; for most other
interest paid and received by
business, IRS tabulations of
business tax returns, adjusted
for misreporting on tax returns
and for conceptual differences.
Most recent year. For farm and
mortgage interest paid, same as
all years except the most
recent; for other interest,
interest receipts and payments
from regulatory agencies (such
as the Federal Deposit Insurance
Corporation), from trade
sources, or derived by applying
BEA interest rates to interest-
bearing assets/liabilities from
FRB flow-of-funds accounts.
Domestic imputed interest, net ($398.9 billion)
Banks, credit agencies,
and investment
companies ($212.8
billion)
Depositor services For commercial banks, data from
($193.9 billion) FRB tabulations of Federal
Financial Examination Council
Call Reports used to calculate
the interest rate spread between
a risk-free reference rate and
the average interest rate paid
to depositors times the average
balance of deposits. Depositor
services allocated to persons,
government, and to the rest of
the world on the basis of
deposit liabilities from FRB.
For credit agencies and investment
companies, property income
earned on investment of deposits
less monetary interest paid to
depositors (and for mutual
depositories, profits from IRS
tabulations of business tax
returns) from annual reports of
regulatory agencies and FRB.
Depositor services allocated to
persons, government, and to the
rest of the world on the basis
of deposit liabilities from FRB.
Borrower services For commercial banks, data from
($18.9 billion) FRB tabulations of Federal
Financial Examination Council
Call Reports used to calculate
the interest rate spread between
the average rate paid by
borrowers and the reference rate
times the average balance of
borrowers.
Life insurance carriers Property income earned on invest-
($178.3 billion) ment of policyholders' reserves
from trade source.
Property and casualty Expected investment income derived
insurance companies using incurred losses and
($7.8 billion) investment gains from trade
source.
Business current transfer payments (net) ($77.7 billion)
To persons (net) ($28.9 All years except the most recent
billion) year. Payments to persons for
charitable contributions, IRS
tabulations of business tax
returns; for other components
(such as liability payments for
personal injury and net insu-
rance settlements), information
from government agency reports
and trade sources.
Most recent year. Judgmental
trend.
To government (net) For Federal, receipts from OMB's
($46.6 billion) Budget of the United States; for
state and local, receipts from
Census Bureau quinquennial
census and annual surveys,
adjusted to a calendar year
basis from a fiscal year basis
and net insurance settlements,
as described above.
To the rest of the world Estimated as part of the interna-
(net) ($2.2 billion) tional transactions accounts.
Proprietors' income with inventory valuation adjustment (IVA) and
capital consumption adjustment (CCAdj) ($834.1 billion)
Farm proprietors' USDA data on net income, obtained
income with IVA ($27.8 by deriving gross income (cash
billion) receipts from marketing, inven-
tory change, government
payments, other cash income, and
nonmoney income) and subtracting
production expenses, adjusted to
exclude corporate income based
on USDA quinquennial census and
annual survey data.
Farm proprietors' See the entry "Less: Capital
income CCAdj consumption adjustment" under
(-$5.9 billion) consumption of fixed capital.
Nonfarm proprietors' All years except the most recent
income ($673.9 billion) year. Income from IRS tabula-
tions of business tax returns,
adjusted for understatement of
income on tax returns and for
conceptual differences.
Most recent year. For construc-
tion, trade, and services,
indicators of activity (such as
value of housing put in place);
for most others, judgmental
trend.
Nonfarm proprietors' See the entry for inventory valua-
income IVA (-$1.9 tion adjustment under corporate
billion) profits.
Nonfarm proprietors' See the entry "Less: Capital con-
income CCAdj ($140.2 sumption adjustment" under
billion) consumption of fixed capital.
Rental income of persons ($153.8 billion)
Owner-occupied Benchmark years. Derived as space
nonfarm housing rent (see the entry for nonfarm
($92.6 billion) dwellings under personal con-
sumption expenditures) less
related expenses, including
property insurance from trade
source and mortgage interest and
property taxes from Census
Bureau decennial survey of
residential finance.
Other years. Same as benchmark
years, except mortgage interest,
based on mortgage debt from FRB
times a BEA interest rate, and
property taxes from Census
Bureau annual surveys of state
and local tax collections.
Tenant-occupied Same as owner-occupied nonfarm
nonfarm housing housing, adjusted to cover only
($40.6 billion) rental income accruing to per-
sons not primarily engaged in
the real estate business from
Census Bureau decennial survey
of residential finance.
Farm housing ($8.7 Benchmark years. Owner- and
billion) tenant-occupied housing derived
as space rent (see the entry for
farm dwellings under personal
consumption expenditures) less
related expenses, such as
mortgage interest and property
taxes from USDA. Farms owned by
nonoperator landlords derived
from USDA data.
Other years. Space rent (see the
entry for farm dwellings under
personal consumption expendi-
tures); expenses, judgmental
trends.
Farms owned by nonoperator land-
lords derived from USDA
Nonfarm nonresidential Benchmark years. Nonfarm nonresi-
properties ($0.9 billion) dential fixed assets from BEA
capital stock series times a
rate of return on capital based
on IRS tabulations of business
tax returns.
Other years. BEA capital stock
series and judgmental trend.
Royalties ($11.0 billion) All years except the most recent
year. IRS tabulations of royal-
ties reported on individual
income tax returns.
Most recent year. Judgmental
trend.
Corporate profits with inventory valuation adjustment (IVA) and
capital consumption (CCAdj) ($844.2 billion)
Domestic profits before All years except the most recent.
tax ($697.6 billion) Receipts less deductions from
IRS tabulations of business tax
returns, adjusted for under-
statement of income on tax
returns and for conceptual
differences.
Most recent year. Profits from
Census Bureau quarterly survey
of corporate profits, regulatory
agency reports, and compilations
of publicly available corporate
financial statements.
Inventory valuation The IVA on the income side (for
adjustment (IVA) corporations and for nonfarm
(-$14.1 billion) sole proprietorships and par-
tnerships) and the IVA on the
product side (see the entry
"Change in private inventories")
differ because the source data
reflect different proportions of
inventories reported using dif-
ferent accounting methods (last-
in, first out (LIFO)). The
income-side IVA is based on the
product-side IVA, adjusted by
the relationship between non-
LIFO inventories from IRS tabu-
lations of business tax returns
and non-LIFO inventories from
the Census Bureau.
Capital consumption See the entry "Less: Capital
adjustment (CCAdj) consumption adjustment" under
($160.7 billion) consumption of fixed capital.
Current surplus of government enterprises ($9.5 billion)
Federal Government ($5.8 Mainly reports of various agen-
billion) cies, such as the Postal
Service, and consumption of
fixed capital (CFC) estimates
derived with perpetual-inventory
calculations at current cost,
based on gross investment and on
investment prices.
State and local For current operating receipts,
governments ($3.7 mainly revenue data from Census
billion) Bureau annual surveys of state
and local governments, adjusted
to a calendar year basis from a
fiscal year basis; for current
operating expenditures, see the
entries for "Consumption expen-
ditures and gross investment"
and "Consumption of general
government fixed capital" under
state and local government.
Consumption of fixed capital ($1,353.9 billion)
Government ($218.1 billion)
General government Perpetual-inventory calculations
($183.6 billion) at current cost, based on gross
investment and on investment
prices.
Government enterprise Perpetual-inventory calculations
($34.5 billion) at current cost, based on gross
investment and on investment
prices.
Private ($1,135.9 billion)
Domestic business Perpetual-inventory calculations
($942.6 billion) at current cost, based on gross
investment and on investment
prices.
Capital consumption All years except the most recent
allowances ($1,225.6 year. For depreciation of
billion) corporations and of nonfarm sole
proprietorships and partner-
ships, IRS tabulations of
business tax returns, adjusted
for conceptual differences; for
other depreciation (including
farm proprietorships and part-
nerships and other private
business), perpetual-inventory
calculations based on investment
at acquisition cost; for acci-
dental damage to fixed capital,
losses reported to insurance
companies and to government
agencies.
Most recent year. For depreciation
of corporations and of nonfarm
sole proprietorships and part-
nerships, BEA estimates of tax-
return-based depreciation; for
other depreciation and acciden-
tal damage to fixed capital,
same as above.
Less: Capital For corporations and nonfarm sole
consumption proprietorships and partner-
adjustment ($283.0 ships, the difference between
billion) tax-return-based calculations
and perpetual-inventory calcula-
tions; for others (including
farm proprietorships and part-
nerships, and other private
business), the difference
between perpetual-inventory
calculations at historical cost
and current cost.
Households and Perpetual-inventory calculations
institutions ($193.3 at current cost, based on gross
billion) investment and on investment
prices.
Component Advance quarterly estimates:
Source data and methods usedto
prepare an extrapolator
Gross domestic product of $11,004.0 billion for 2003
Personal consumption expenditures ($7,760.9 billion)
Durable and nondurable goods ($3,150.8 billion) (1)
Most durable and Same as the annual estimates
nondurable goods for other years.
except those listed
below ($2,569.8 billion) (2)
New autos ($97.5 billion) Same as the annual estimates
for other years.
Net purchases of used For net transactions, residual
autos and used light based on net sales by other
trucks ($107.4 billion) sectors. For dealers' margin,
judgmental trend.
New light trucks (including Same as the annual estimate
utility vehicles) ($168.5 for the most recent year.
billion)
Gasoline and oil ($191.3 Same as the annual estimate
billion) (2) for the most recent year.
Food furnished to For commercial employees,
employees (including same as the annual estimates
military) ($10.4 billion) for other years; for military
personnel, judgmental trend.
Expenditures abroad by Judgmental trend.
U.S. residents ($6.6
billion) less personal
remittances in kind to
nonresidents ($1.8
billion)
Services ($4,610.1 billion)
Nonfarm dwellings: Space For housing stock, judgmental
rent for owner-occupied trend; for average rent, BLS
dwellings and rent for CPI for rent.
tenant-occupied
dwellings ($1,121.8
billion)
Rental value of farm Judgmental trend.
dwellings ($11.9 billion)
Motor vehicle repair, For nursing homes, research
rental, and other organizations and
services; other repair foundations, employment
services; other agency fees, and clubs and
purchased intercity fraternal organizations, wages
transportation; legal and and salaries derived from BLS
funeral services; barber- monthly employment times
shops, beauty parlors, earnings times hours; for
and health clubs; commercial business, trade,
nursing homes; and correspondence schools,
laundries; employment and for education services not
agency fees; accounting elsewhere classified,
and tax return prepar- employment times BLS CPI
ation services; recrea- for technical and business
tion (except cable TV, school tuition and fees; for
parimutuel net receipts, legitimate theaters and motion
lotteries, and computer pictures, receipts from trade
online services); hotels sources; for radio and TV
and motels; commercial repair, number of TVs based
business, trade, and on stock and sales from trade
correspondence source times BLS CPI for
schools; educational video and audio; for hotels
services not elsewhere and motels, rooms rented
classified; research times average price per room
organizations and from trade source; for casino
foundations ($785.0 gambling, receipts from state
billion) agencies; for others in this
group, judgmental trend.
Physicians, home health For home health care, wages
care, medical and salaries derived from BLS
laboratories, eye monthly employment times
examinations, all other earnings times hours; for
professional medical others in this group,
services ($578.3 billion) judgmental trend.
Private nursery schools, For political organizations and
elementary and foundations, judgmental trend;
secondary schools, day for elementary and secondary
care, welfare activities, schools, employment times
political organizations, BLS CPI for all items; for
foundations, and trade others in this group, wages
unions and professional and salaries derived from BLS
associations ($214.3 monthly employment times
billion) earnings times hours.
Financial services Judgmental trend.
furnished without
payment by banks, other
depository institutions,
and investment
companies ($195.2
billion) (3)
Brokerage charges and For stock brokerage charges,
investment counseling, stock exchange transactions
bank service charges, from trade sources; for income
intercity transportation from sales of investment com-
except "other," and party securities, sales of open-
private higher education end investment company
($246.8 billion) shares from trade source; for
imputed commissions on debt
securities, dealer transactions
in U.S. government and agen-
cy securities from Federal
Reserve Bank of New York; for
commodities commissions,
futures contracts from trade
source; for investment coun-
seling, wages and salaries
derived from BLS monthly
employment times earnings
times hours; for other broker-
age charges and investment
counseling and for bank
service charges, judgmental
trend; for intercity transpor-
tation, receipts from trade
sources; for private higher
education, employment times
BLS CPI for all items.
Domestic service ($18.5 Judgmental trend.
billion)
Public education and Judgmental trend.
hospitals, water and
other sanitary services,
and lotteries ($250.4
billion)
Insurance, private For life insurance and private
hospitals, religious hospitals, wages and salaries
activities, cable TV, derived from BLS monthly
electricity, natural gas, employment times earnings
telephone, and local times hours; for cable TV,
transport ($1,066.1 number of cable TV and direct
billion) broadcast satellite subscribers
from trade source; for
electricity and gas, projected
quantities based on degree-
day data from the National
Oceanic and Atmospheric
Administration times prices
based on BLS CPIs for
electricity and gas; for
cellular telephone, number of
subscribers from trade source
times BLS CPI for cellular
telephone service; for others
in this group, judgmental
trend.
Foreign travel by U.S. Same as the annual estimates.
residents ($79.2 billion)
less expenditures in the
United States by non
residents ($86.7 billion)
Other services: Motor For motor vehicle leasing,
vehicle leasing; number of leased vehicles
parimutuel net receipts; based on registrations and
other housing except terms from trade source, and
hotels and motels; lease payments based on new
bridge, etc. tolls; other vehicle prices, BEA depre-
household operation ciation schedules, and Federal
except repairs and Reserve Board (FRB) interest
insurance; travel and rates on new motor vehicle
entertainment card fees; loans; for others in this group,
stenographic and judgmental trend.
reproduction services;
money orders and
classified advertising;
and computer online
services ($129.4 billion)
Fixed investment ($1,667.0 billion)
Nonresidential structures ($261.6 billion)
Commercial and health Same as the annual estimates
care ($111.6 billion) for other years.
Manufacturing ($14.2 Same as the annual estimates.
billion)
Power and communi- Same as the annual estimates.
cation ($40.3 billion)
Mining exploration, shafts, For petroleum and natural gas,
and wells ($35.6 billion) same as the annual for the
most recent year; for mining,
judgmental trend.
Other structures ($59.9 Same as the annual estimates
billion) for other years.
Nonresidential equipment and software ($833.1 billion)
Equipment except new Same as the annual estimates
autos, new light trucks, for other years but with less
and net purchases of detail.
used autos and used
light trucks ($591.4
billion)
New autos, new light See the entries under personal
trucks, and net consumption expenditures.
purchases of used autos
and used light trucks
($75.9 billion)
Software ($165.8 billion) For purchased software,
receipts from company reports
to the Securities and
Exchange Commission and
retail sales of business
software from trade sources;
for own-account software,
private fixed investment in
computers and peripheral
equipment.
Residential investment ($572.3 billion) (4)
Permanent-site new Same as the annual estimates.
single-family housing
units ($310.6 billion)
Permanent-site new multi- Same as the annual estimates.
family housing units
($35.3 billion)
Manufactured homes Same as the annual estimates
($7.1 billion) for other years.
Improvements ($132.0 Judgmental trend.
billion)
Brokers' commissions Same as the annual estimates.
($80.4 billion)
Equipment ($8.0 billion) Same as the annual estimates.
Change in private inventories (-$1.2 billion)
Manufacturing and trade Same as the annual estimates
(-$2.6 billion) for other years.
Construction, mining, For electric utilities, same as
utilities, and other nonfarm the annual estimate for the most
industries ($1.2 billion) recent year; for all others,
judgmental trend.
Farm ($0.3 billion) For crops, BEA quarterly
allocation of USDA annual
projections of crop output and
cash receipts; for livestock,
USDA quarterly data.
Net exports of goods and services (-$498.1 billion)
Exports and imports of For territorial adjustment,
goods, net (-$555.6 Census Bureau foreign trade
billion) data and judgmental trend; for
gold, judgmental trend; for all
others, same as the annual
estimates.
Exports and imports of For territorial adjustment,
services, net ($57.6 judgmental trend; for all
billion) others, same as the annual
estimates.
Government consumption expenditures and gross investment
($2,075.5 billion)
Federal Government ($752.2 billion)
National defense except For components of
consumption of general compensation, military
government fixed capital employment from DOD and
($434.9 billion) civilian employment from BLS;
for other than compensation,
same as the annual estimates;
for software, see the entry for
software under nonresidential
equipment and software.
National defense Same as the annual estimates.
consumption of general
government fixed capital
($61.5 billion)
Nondefense except For components of
consumption of general compensation, employment
government fixed capital from BLS; for software, see
($232.3 billion) the entry for software under
nonresidential equipment and
software; for other than
compensation and software,
same as the annual estimates.
Nondefense consumption Same as the annual estimates.
of general government
fixed capital ($23.4
billion)
State and local government ($1,323.3 billion)
Consumption Judgmental trend.
expenditures and gross
investment except those
items listed below
($300.7 billion)
Compensation of general For wages and salaries, derived
government employees from BLS monthly
($692.9 billion) employment times earnings
from BLS employment cost
index; for other compensation,
judgmental trend.
Consumption of general Same as the annual estimates.
government fixed capital
($95.6 billion)
Structures ($213.4 billion) Same as the annual estimates.
Software ($9.4 billion) Same as the annual estimates.
Brokerage charges and Same as the annual estimates.
financial services
furnished without
payment ($11.3 billion)
Gross domestic income of $10,978.5 billion for 2003
Compensation of employees, paid (6,294.5 billion) (5)
Wage and salary accruals ($5,109.1 billion)
Private industries For most industries, wages and
($4,211.1 billion) salaries derived from BLS
monthly employment times
earnings times hours; for
others, judgmental trend.
Federal Government For civilians, employment from
($230.4 billion) BLS and judgmental trend; for
military personnel, DOD
employment and judgmental
trend.
State and local Derived from BLS monthly
governments ($667.6 employment times earnings
billion) from BLS employment cost
index.
Employer contributions for employee pension and insurance funds
($808.9 billion)
Group health insurance Judgmental trend.
($429.0 billion)
Private pension and profit- Judgmental trend.
sharing funds ($190.6
billion)
Government employee For Federal plans, same as the
retirement plans ($122.2 annual estimate for the most
billion) recent year; for state and local
government plans, judgmental
trend.
Workers' compensation Judgmental trend.
($52.9 billion)
Group life insurance Judgmental trend.
($12.6 billion)
Employer contributions for For Federal programs, BEA-
government social derived wages and salaries of
insurance ($376.6 billion) employees covered by the
programs; for state and local
government programs,
judgmental trend.
Taxes on production and imports ($798.1 billion)
Federal Government ($89.4 For customs duties, receipts
billion) from the Monthly Treasury
Statement; for most excise
taxes, derived from indicators
of activity (such as gasoline
production for gasoline tax);
for others, judgmental trend.
State and local Judgmental trend.
governments ($708.7
billion)
Less: Subsidies ($46.7 billion)
Federal Government ($46.4 CCC reports and judgmental
billion) trend.
State and local Judgmental trend and California
governments ($0.3 billion) administrative records.
Net operating surplus ($2,578.7 billion)
Private enterprises ($2,569.2 billion)
Net interest and miscellaneous payments ($659.3 billion) (6)
Domestic monetary Derived by combining estimates
interest, net ($246.6 of (1) interest received by
billion) persons, (2) government
interest paid less received,
and (3) interest paid by
persons. For (1), judgmental
trend; for (2), data from the
Monthly Treasury Statement
and the Bureau of the Public
Debt for Federal and
judgmental trend for state and
local; and for (3), consumer
debt from FRB times BEA
estimates of interest rates.
Domestic imputed interest, net ($398.9 billion)
Banks, credit agencies,
and investment
companies ($212.8
billion)
Depositor services Judgmental trend.
($193.9 billion)
Borrower services Judgmental trend.
($18.9 billion)
Life insurance carriers Judgmental trend.
($178.3 billion)
Property and casualty Judgmental trend.
insurance companies
($7.8 billion)
Business current transfer payments (net) ($77.7 billion)
To persons (net) ($28.9 Judgmental trend.
billion)
To government (net) Judgmental trend.
($46.6 billion)
To the rest of the world Same as the annual estimates.
(net) ($2.2 billion)
Proprietors' income with inventory valuation adjustment (IVA) and
capital consumption adjustment (CCAdj) ($834.1 billion)
Farm proprietors' For crops, BEA quarterly
income with IVA ($27.8 allocation of USDA annual
billion) projections of crop output; for
livestock, USDA quarterly
projections of cash receipts
and inventories; for both crops
and livestock, quarterly
allocation of USDA annual
projections of government
subsidy payments and
production expenses.
Farm proprietors'
income CCAdj
(-$5.9 billion)
Nonfarm proprietors' Same as the annual estimates
income ($673.9 billion) for the most recent year.
Nonfarm proprietors'
income IVA (-$1.9
billion)
Nonfarm proprietors'
income CCAdj ($140.2
billion)
Rental income of persons ($153.8 billion)
Owner-occupied For owner-occupied space rent,
nonfarm housing same as the annual estimates;
($92.6 billion) for depreciation, interest,
closing costs, real estate
dealers' commissions, and
taxes, based on NIPA
estimates of those
components; for other
expenses, judgmental trend.
Tenant-occupied Same as the annual estimates.
nonfarm housing
($40.6 billion)
Farm housing ($8.7 Judgmental trend.
billion)
Nonfarm nonresidential Judgmental trend.
properties ($0.9 billion)
Royalties ($11.0 billion) Judgmental trend.
Corporate profits with inventory valuation adjustment (IVA) and
capital consumption (CCAdj) ($844.2 billion)
Domestic profits before For some industries in
tax ($697.6 billion) transportation and in finance,
judgmental trend; for others,
same as the annual estimates
for the most recent year.
(Released at time of
preliminary estimate of GDP
for the first, second, and third
quarters and of final estimate
for the fourth quarter.)
Inventory valuation Same as the annual estimates.
adjustment (IVA)
(-$14.1 billion)
Capital consumption
adjustment (CCAdj)
($160.7 billion)
Current surplus of government enterprises ($9.5 billion)
Federal Government ($5.8 Judgmental trend; for CFC
billion) estimates, the same as the
annual estimates.
State and local Judgmental trend.
governments ($3.7
billion)
Consumption of fixed capital ($1,353.9 billion)
Government ($218.1 billion)
General government Same as the annual estimates.
($183.6 billion)
Government enterprise Same as the annual estimates.
($34.5 billion)
Private ($1,135.9 billion)
Domestic business Same as the annual estimates.
($942.6 billion)
Capital consumption Judgmental trend.
allowances ($1,225.6
billion)
Less: Capital Judgmental trend.
consumption
adjustment ($283.0
billion)
Households and Same as the annual estimates.
institutions ($193.3
billion)
NIPAs National income and product accounts
(1.) Personal consumption expenditures (PCE) for durable and nondurable
goods includes $1.0 billion for food produced and consumed on farms and
standard clothing issued to military personnel.
(2.) The Census Bureau data for retail sales include sales of gasoline
service stations. The estimates of PCE for gasoline and oil are derived
from the sources listed and are deducted from the retail-control
estimates of most durable and nondurable goods.
(3.) This line item is also referred to as "services furnished without
payment by financial interme- diaries, except life insurance carriers."
(4.) Residential investment includes -$1.0 billion for dormitories and
net purchases of used structures.
(5.) Compensation of employees includes $1.7 billion for supplemental
unemployment.
(6.) Net interest and miscellaneous payments includes $13.6 billion for
government rents and royalties.
Table 2. Methodology Used in Preparing Estimates of Real GDP
Deflation, using price based on
Component CPI or PPI
Personal consumption expenditures
Durable and nondurable goods
Most durable and nondurable CPI
goods except those listed PPI, for military
below clothing
New autos CPI
Net purchases of used autos and
used light trucks
New trucks CPI
Gasoline and oil CPI
Food furnished to employees CPI
(including military)
Expenditures abroad by U.S.
residents less personal
remittances in kind to
nonresidents
Services
Nonfarm dwellings: Space rent CPI
for owner-occupied dwellings
and rent for tenant-occupied
dwellings
Rental value of farm dwellings
Motor vehicle repair, rental, CPI I
and other services; other PPI, for proprietary
repair services; other and government
purchased intercity nursing homes and
transportation; legal and employment agency
funeral services; fees
barbershops, beauty parlors,
and health clubs; nursing
homes; laundries; employment
agency fees; accounting and
tax return preparation
services; recreation (except
cable TV, parimutuel net
receipts, lotteries and
computer online services);
hotels and motels;
commercial business,
trade, and correspondence
schools; educational
services not elsewhere
classified; research
organizations and
foundations
Physicians, dentists, and CPI
other professional medical PPI, for physicians,
services home health care,
and medical
laboratories
Private nursery schools,
elementary and secondary
schools, day care, welfare
activities, political
organizations, foundations,
and trade unions, and
professional associations
Financial services furnished PPI, for investment
without payment by banks, companies'
other depository securities
institutions, and investment commissions
companies (2)
Brokerage charges and CPI
investment counseling, bank PPI, for securities
service charges, intercity commissions
transportation except
"other," and private higher
education
Domestic service CPI
Public education and hospitals, CPI
water and other sanitary PPI, for public
services, and lotteries hospitals
Insurance, private hospitals, CPI
religious activities, cable PPI, for private for-
TV, electricity, natural profit hospitals
gas, telephone, and local
transport
Foreign travel by U.S. CPI, for expenditures
residents less expenditures in the United States
in the United States by
nonresidents
Other services: Motor vehicle CPI
leasing; parimutuel net
receipts; other housing
except hotels and motels;
tolls; other household
operation except repairs
and insurance; travel and
entertainment card fees;
stenographic and
reproduction services;
money orders and
classified advertising; and
computer online services
Fixed investment
Nonresidential structures
Commercial and healthcare
Manufacturing
Power and communication PPI, for power
excluding electric
Mining exploration, shafts, PPI, for casing, oil and
and wells gas well drilling, and
oil and gas field
services
Other structures PPI, for brokers'
commissions
Nonresidential equipment and
software
Equipment except those PPI, for most domestic
listed below components and for
imported
transportation
equipment
New autos, new light CPI, for new autos
trucks, and net purchases PPI, for new light
of used autos and used trucks
light trucks
Telephone and telegraph
installation
Telephone switching
equipment
Photocopying equipment
Software PPI, for prepackaged
software
Residential investment
Permanent-site new single-
family housing units
Permanent-site new
multifamily housing
units
Manufactured homes PPI
Improvements
Brokers' commissions PPI
Equipment CPI
Change in private inventories
Nonfarm
Purchased goods of all PPI
industries
Work-in-process and finished PPI
goods, manufacturing
Farm
Net exports of goods and services
Exports and imports of goods PPI, for gold; semi-
conductor exports,
selected
transportation
equipment; selected
agricultural foods,
feeds, and
beverages; and
selected imports of
refined petroleum
Exports and imports of CPI, for travel receipts,
services medical receipts, and
nonresident
students'
expenditures
PPI, for selected other
transportation
Government consumption expenditures and gross investment
Federal Government
National defense except PPI, for selected
consumption of general goods and services
government fixed capital CPI and PPI, for
utilities and
communications
National defense
consumption of general
government fixed
capital
Nondefense except PPI, for most goods
consumption of general and selected
government fixed services
capital CPI, for rent, utilities,
and communications
Nondefense consumption of
general government fixed
capital
State and local government
Consumption expenditures CPI, for services
and gross investment PPI, for electricity,
except those listed hospitals, most
below professional
services, and goods
Compensation of general
government employees
Consumption of general
government fixed capital
Structures
Software
Brokerage charges and financial
services furnished without
payment
Deflation, using price based on
Component Other index
Personal consumption expenditures
Durable and nondurable goods
Most durable and nondurable
goods except those listed
below
New autos
Net purchases of used autos and
used light trucks
New trucks
Gasoline and oil
Food furnished to employees
(including military)
Expenditures abroad by U.S. Foreign CPIs (1)
residents less personal
remittances in kind to
nonresidents
Services
Nonfarm dwellings: Space rent
for owner-occupied dwellings
and rent for tenant-occupied
dwellings
Rental value of farm dwellings
Motor vehicle repair, rental, Composite index of input prices
and other services; other from the Centers for Medicare
repair services; other homes; for clubs and
purchased intercity Medicaid Services for
transportation; legal and private nonprofit nursing
funeral services; and fraternal organizations,
barbershops, beauty parlors, and for nonprofit research and
and health clubs; nursing foundation expenses, BEA
homes; laundries; employment composite indexes of input
agency fees; accounting and prices.
tax return preparation
services; recreation (except
cable TV, parimutuel net
receipts, lotteries and
computer online services);
hotels and motels;
commercial business,
trade, and correspondence
schools; educational
services not elsewhere
classified; research
organizations and
foundations
Physicians, dentists, and
other professional medical
services
Private nursery schools, BEA composite indexes of input
elementary and secondary prices.
schools, day care, welfare
activities, political
organizations, foundations,
and trade unions, and
professional associations
Financial services furnished BEA composite index of input
without payment by banks, prices, for investment
other depository companies' "total
institutions, and investment deductions."
companies (2)
Brokerage charges and BEA index based on revenue per
investment counseling, bank passenger mile from DOT and
service charges, intercity trade source for air
transportation except transportation; for private
"other," and private higher higher education, BEA
education composite index of input
prices.
Domestic service
Public education and hospitals,
water and other sanitary
services, and lotteries
Insurance, private hospitals, BEA composite indexes of input
religious activities, cable prices, for life insurance and
TV, electricity, natural religious activities; for
gas, telephone, and local private nonprofit hospitals,
transport composite index of input
prices from the Centers for
Medicare and Medicaid
Services.
Foreign travel by U.S. BEA composite index of foreign
residents less expenditures CPIs, (1) for foreign travel;
in the United States by for airfares in foreign
nonresidents travel, BLS import price
index.
Other services: Motor vehicle
leasing; parimutuel net
receipts; other housing
except hotels and motels;
tolls; other household
operation except repairs
and insurance; travel and
entertainment card fees;
stenographic and
reproduction services;
money orders and
classified advertising; and
computer online services
Fixed investment
Nonresidential structures
Commercial and healthcare BEA index based on costs per
square foot from trade source
for commercial structures; for
healthcare, BEA index based on
cost index from trade source
on Census Bureau price
deflator for single-family
houses under construction.
Manufacturing BEA index based on costs per
square foot from trade source.
Power and communication Cost indexes from trade
sources and government
agencies, for power; for
communication, cost index from
trade source.
Mining exploration, shafts, BEA index based on cost index
and wells from trade source and on Census
Bureau price deflator for
single-family houses under
construction, for mines.
Other structures BEA index based on costs per
square foot from trade source,
for educational and vocational
structures; for railroads, BEA
price index; for other
components, BEA index based on
cost index from trade source
and on Census Bureau price
family houses under
construction.
Nonresidential equipment and
software
Equipment except those BLS import price indexes, for
listed below imported components except
transportation equipment.
New autos, new light
trucks, and net purchases
of used autos and used
light trucks
Telephone and telegraph BEA cost index
installation
Telephone switching BEA price index
equipment
Photocopying equipment BEA price index
Software BEA cost index, BLS employment
cost index, and PPI, for own-
account and custom software.
Residential investment
Permanent-site new single- Census Bureau price deflator for
family housing units single-family houses under
construction.
Permanent-site new BEA price index
multifamily housing units
Manufactured homes
Improvements BEA composite index of input
prices, for major
replacements; for additions
and alterations, BEA index
based on Census Bureau price
deflator for single-family
houses under construction and
BEA index for major
replacements.
Brokers' commissions
Equipment
Change in private inventories
Nonfarm
Purchased goods of all Composite price from the Energy
industries Information Administration,
crude petroleum; BLS import
price indexes, for imported
goods purchased by trade
industries.
Work-in-process and finished BEA indexes of unit labor cost.
goods, manufacturing
Farm USDA average market prices
Net exports of goods and services
Exports and imports of goods BLS export and import price
indexes; for electric energy
exports and imports, and for
petroleum imports, unit-value
indexes based on Census Bureau
values and quantities.
Exports and imports of Selected deflators, for military
services transfers and defense
expenditures: see "National
defense except consumption of
general government fixed
capital" below.
BLS export and import price
indexes, for passenger fares;
BEA composite index of foreign
CPIs, (1) for travel payments,
for miscellaneous services,
and U.S. students'
expenditures abroad; BLS
exports and imports price
indexes, for selected other
transportation; and for
royalties and fees, and other
private services, BEA price
indexes, CPI, PPI, and
implicit price deflator for
final sales to domestic
purchasers.
Government consumption expenditures and gross investment
Federal Government
National defense except BEA indexes based on DOD prices
consumption of general paid, for some goods and
government fixed capital services and for most military
structures; for some services,
BLS employment cost indexes;
for nonmilitary structures,
cost indexes from trade
sources and government
agencies; for own-account
software, BEA index
derived from nondefense
compensation, for custom
software, BEA index derived
from nondefense compensation
price index and PPI.
National defense
consumption of general
government fixed
capital
Nondefense except Cost indexes from trade sources
consumption of general and government agencies, for
government fixed structures; for some services,
capital BLS employment cost indexes;
for own-account software, BEA
index derived from nondefense
compensation; for custom
software, BEA index derived
from nondefense compensation;
for custom software, BEA index
derived from nondefense
compensation price index and
PPI.
Nondefense consumption of
general government fixed
capital
State and local government
Consumption expenditures and BEA indexes based on Federal
gross investment except nondefense prices paid, for
those listed below transportation, books, and
postal services; for
elementary and secondary
education, welfare, and
libraries, BEA composite
indexes of input prices; for
maintenance and repair
services, BEA composite
price index for state
and local construction.
Compensation of general
government employees
Consumption of general
government fixed capital
Structures Cost indexes from trade sources
and government agencies.
Software See the entry for software under
nonresidential equipment and
software.
Brokerage charges and financial
services furnished without
payment
Using quantity for
Component extrapolation or direct valuation
Personal consumption expenditures
Durable and nondurable goods
Most durable and nondurable
goods except those listed
below
New autos
Net purchases of used autos and Direct valuation. For used autos
used light trucks and used light trucks, in two
parts: (1) Margin, unit sales
from trade sources with
dealers' margins from
Census Bureau and trade
sources; (2) net transactions,
net change in unit stock of
autos held by consumers
by year of original sale,
valued by depreciated
original value in base-year
dollars.
New trucks
Gasoline and oil
Food furnished to employees
(including military)
Expenditures abroad by U.S.
residents less personal
remittances in kind to
nonresidents
Services
Nonfarm dwellings: Space rent
for owner-occupied dwellings
and rent for tenant-occupied
dwellings
Rental value of farm dwellings Quantity extrapolation. Real
dollar net stock of farm housing
from BEA capital stock
estimates.
Motor vehicle repair, rental,
and other services; other
repair services; other
purchased intercity
transportation; legal and
funeral services;
barbershops, beauty parlors,
and health clubs; nursing
homes; laundries; employment
agency fees; accounting and
tax return preparation
services; recreation (except
cable TV, parimutuel net
receipts, lotteries and
computer online services);
hotels and motels;
commercial business,
trade, and correspondence
schools; educational
services not elsewhere
classified; research
organizations and
foundations
Physicians, dentists, and
other professional medical
services
Private nursery schools,
elementary and secondary
schools, day care, welfare
activities, political
organizations, foundations,
and trade unions, and
professional associations
Financial services furnished Quantity extrapolation. Banks,
without payment by banks, BLS index of total output
other depository (less BEA real bank service
institutions, and investment charges) times consumer share
companies (2) based on shares of deposits
and loans; for other
depository institutions, paid
employee hours of relevant
financial institutions; for
investment companies'
"implicit charges," BEA orders
derived from volume data from
trade sources.
Brokerage charges and Quantity extrapolation. For
investment counseling, bank mutual fund sales charges,
service charges, intercity value of new sales deflated by
transportation except CPI.
"other," and private higher
education
Domestic service
Public education and hospitals,
water and other sanitary
services, and lotteries
Insurance, private hospitals, Quantity extrapolation. For auto
religious activities, cable insurance, premiums deflated
TV, electricity, natural by CPI; for medical care and
gas, telephone, and local hospitalization insurance,
transport benefits deflated by PPI; for
workers' compensation,
premiums deflated by PPI.
Foreign travel by U.S.
residents less expenditures
in the United States by
nonresidents
Other services: Motor vehicle Quantity extrapolation. For
leasing; parimutuel net parimutuel net receipts, gross
receipts; other housing winnings deflated by CPI.
except hotels and motels;
tolls; other household
operation except repairs
and insurance; travel and
entertainment card fees;
stenographic and
reproduction services;
money orders and
classified advertising; and
computer online services
Fixed investment
Nonresidential structures
Commercial and healthcare
Manufacturing
Power and communication
Mining exploration, shafts, Quantity extrapolation. For
and wells drilling, footage by
geographic area from trade
source.
Other structures
Nonresidential equipment and
software
Equipment except those
listed below
New autos, new light Direct valuation. For used autos
trucks, and net purchases and used light trucks, see the
of used autos and used entry "Net purchases of used
light trucks autos and used light trucks"
under personal consumption
expenditures.
Telephone and telegraph
installation
Telephone switching
equipment
Photocopying equipment
Software
Residential investment
Permanent-site new single-
family housing units
Permanent-site new
multifamily housing
units
Manufactured homes
Improvements
Brokers' commissions
Equipment
Change in private inventories
Nonfarm
Purchased goods of all Direct valuation. Quantities and
industries prices of stocks of coal,
petroleum, and natural gas for
utilities from Energy
Information Administration.
Work-in-process and finished
goods, manufacturing
Farm
Net exports of goods and services
Exports and imports of goods
Exports and imports of Quantity extrapolation. For
services exports of financial services
furnished without payment, (2)
BLS index of total bank output
(less BEA real bank service
charges).
Government consumption expenditures and gross investment
Federal Government
National defense except Quantity extrapolation. For
consumption of general military compensation, full-
government fixed capital time equivalent employment by
rank and length of service;
for civilian compensation,
full-time equivalent
employment by grade, adjusted
for change from base year in
hours worked.
Direct valuation. For some goods
and services and a few
military structures,
quantities and prices from
DOD reports; for electricity
and natural gas, quantities
from DOE.
National defense Direct valuation. Perpetual-
consumption of general inventory calculations based on
government fixed gross investment.
capital Quantity extrapolation. For
Nondefense except compensation, full-time
consumption of general equivalent employment by
government fixed grade, adjusted for change
capital from base year in hours
worked; for financial
services furnished without
payment, (2) BLS index of
total bank output (less BEA
real bank service charges).
Direct valuation. For net
purchases of agricultural
commodities by the Commodity
Credit Corporation, quantities
by crop from agency
reports and USDA prices; for
selected petroleum
transactions, DOE quantities
and prices.
Nondefense consumption of Direct valuation. Perpetual-
general government fixed inventory calculations based
capital on gross investment.
State and local government
Consumption expenditures
and gross investment
except those listed
below
Compensation of general Quantity extrapolation. For
government employees employees in education, full-
time equivalent employment by
education and experience,
adjusted for change from base
year in hours worked; for
other employees, full-time
equivalent employment,
adjusted for change from
base year in hours worked;
for other employees, full-time
equivalent employment,
adjusted for change from base
year in hours worked.
Consumption of general Direct valuation. Perpetual-
government fixed capital inventory calculations based
on gross investment.
Structures
Software
Brokerage charges and financial
services furnished without Quantity extrapolation. See the
payment entries for brokerage charges
and for financial services
under personal consumption
expenditures.
BEA Bureau of Economic Analysis
BLS Bureau of Labor Statistics
CPI Consumer price index
DOD Department of Defense
DOE Department of Energy
DOT Department of Transportation
PPI Producer price index
USDA U.S. Department of Agriculture
(1.) The foreign CPIs have been adjusted for differences in exchange
rates.
(2.) Also referred to as "services furnished without payment by
financial intermediaries, except life insurance carriers."
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