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January 2011 Tealbook A Tables and Charts
Greensheets
Changes in GDP, Prices, and Unemployment
| Interval | Nominal GDP | Real GDP | PCE price index | Core PCE price index | Unemployment rate1 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/08/10 | 01/19/11 | 12/08/10 | 01/19/11 | 12/08/10 | 01/19/11 | 12/08/10 | 01/19/11 | 12/08/10 | 01/19/11 | ||
| Quarterly | |||||||||||
| 2010: | Q1 | 4.8 | 4.8 | 3.7 | 3.7 | 2.1 | 2.1 | 1.2 | 1.2 | 9.7 | 9.7 |
| Q2 | 3.7 | 3.7 | 1.7 | 1.7 | .0 | .0 | 1.0 | 1.0 | 9.7 | 9.6 | |
| Q3 | 5.0 | 4.6 | 2.7 | 2.6 | 1.0 | .8 | .8 | .5 | 9.6 | 9.6 | |
| Q4 | 2.8 | 3.8 | 2.5 | 3.8 | 1.8 | 1.9 | .6 | .6 | 9.7 | 9.6 | |
| 2011: | Q1 | 4.6 | 5.7 | 3.4 | 3.6 | 1.6 | 2.0 | 1.0 | .9 | 9.5 | 9.5 |
| Q2 | 4.5 | 4.7 | 3.5 | 3.7 | 1.0 | 1.1 | .9 | 1.0 | 9.4 | 9.3 | |
| Q3 | 4.6 | 4.9 | 3.7 | 3.8 | .9 | 1.2 | .9 | 1.0 | 9.1 | 9.1 | |
| Q4 | 5.1 | 5.1 | 4.3 | 4.2 | .7 | 1.0 | .8 | .9 | 8.9 | 8.9 | |
| 2012: | Q1 | 5.5 | 5.5 | 4.3 | 4.3 | .9 | 1.0 | .9 | 1.0 | 8.8 | 8.7 |
| Q2 | 5.6 | 5.6 | 4.4 | 4.4 | .9 | 1.0 | .9 | 1.0 | 8.6 | 8.4 | |
| Q3 | 5.6 | 5.6 | 4.5 | 4.5 | .9 | 1.0 | .9 | 1.0 | 8.3 | 8.1 | |
| Q4 | 5.6 | 5.7 | 4.5 | 4.6 | .9 | 1.0 | .9 | 1.0 | 8.0 | 7.8 | |
| Two-quarter2 | |||||||||||
| 2010: | Q2 | 4.3 | 4.3 | 2.7 | 2.7 | 1.0 | 1.0 | 1.1 | 1.1 | -.3 | -.4 |
| Q4 | 3.9 | 4.2 | 2.6 | 3.2 | 1.4 | 1.3 | .7 | .5 | .0 | .0 | |
| 2011: | Q2 | 4.5 | 5.2 | 3.5 | 3.7 | 1.3 | 1.6 | 1.0 | 1.0 | -.3 | -.3 |
| Q4 | 4.9 | 5.0 | 4.0 | 4.0 | .8 | 1.1 | .8 | 1.0 | -.5 | -.4 | |
| 2012: | Q2 | 5.6 | 5.6 | 4.4 | 4.4 | .9 | 1.0 | .9 | 1.0 | -.3 | -.5 |
| Q4 | 5.6 | 5.7 | 4.5 | 4.5 | .9 | 1.0 | .9 | 1.0 | -.6 | -.6 | |
| Four-quarter3 | |||||||||||
| 2009:Q4 | .6 | .6 | .2 | .2 | 1.5 | 1.5 | 1.7 | 1.7 | 3.1 | 3.1 | |
| 2010:Q4 | 4.1 | 4.3 | 2.7 | 2.9 | 1.2 | 1.2 | .9 | .8 | -.3 | -.4 | |
| 2011:Q4 | 4.7 | 5.1 | 3.7 | 3.8 | 1.1 | 1.3 | .9 | 1.0 | -.8 | -.7 | |
| 2012:Q4 | 5.6 | 5.6 | 4.4 | 4.4 | .9 | 1.0 | .9 | 1.0 | -.9 | -1.1 | |
| Annual | |||||||||||
| 2009 | -1.7 | -1.7 | -2.6 | -2.6 | .2 | .2 | 1.5 | 1.5 | 9.3 | 9.3 | |
| 2010 | 3.8 | 3.9 | 2.8 | 2.9 | 1.7 | 1.7 | 1.4 | 1.3 | 9.7 | 9.6 | |
| 2011 | 4.3 | 4.8 | 3.2 | 3.5 | 1.2 | 1.4 | .9 | .8 | 9.2 | 9.2 | |
| 2012 | 5.3 | 5.4 | 4.3 | 4.3 | .9 | 1.0 | .9 | 1.0 | 8.4 | 8.3 | |
1. Level, except for two-quarter and four-quarter intervals. Return to table
2. Percent change from two quarters earlier; for unemployment rate, change is in percentage points. Return to table
3. Percent change from four quarters earlier; for unemployment rate, change is in percentage points. Return to table
Changes in Real Gross Domestic Product and Related Items
| Item | 2010 | 2011 | 2012 | 2010 1 | 2011 1 | 2012 1 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | ||||
| Real GDP | 3.7 | 1.7 | 2.6 | 3.8 | 3.6 | 3.7 | 3.8 | 4.2 | 4.3 | 4.4 | 4.5 | 4.6 | 2.9 | 3.8 | 4.4 |
| Previous Tealbook | 3.7 | 1.7 | 2.7 | 2.5 | 3.4 | 3.5 | 3.7 | 4.3 | 4.3 | 4.4 | 4.5 | 4.5 | 2.7 | 3.7 | 4.4 |
| Final sales | 1.1 | .9 | .9 | 7.0 | 3.1 | 3.4 | 3.7 | 5.1 | 4.0 | 4.1 | 4.0 | 4.6 | 2.4 | 3.8 | 4.1 |
| Previous Tealbook | 1.1 | .9 | 1.2 | 4.2 | 3.3 | 3.8 | 4.0 | 4.4 | 3.9 | 4.0 | 4.0 | 4.5 | 1.8 | 3.9 | 4.1 |
| Priv. dom. final purch. | 2.1 | 4.4 | 2.3 | 4.0 | 3.9 | 4.3 | 4.7 | 4.7 | 4.2 | 4.5 | 4.7 | 5.0 | 3.2 | 4.4 | 4.6 |
| Previous Tealbook | 2.1 | 4.4 | 2.6 | 2.7 | 3.5 | 4.1 | 4.5 | 5.0 | 4.2 | 4.5 | 4.8 | 5.0 | 3.0 | 4.3 | 4.7 |
| Personal cons. expend. | 1.9 | 2.2 | 2.4 | 4.1 | 3.1 | 3.5 | 3.6 | 3.7 | 3.5 | 3.7 | 3.9 | 4.2 | 2.6 | 3.5 | 3.8 |
| Previous Tealbook | 1.9 | 2.2 | 2.8 | 2.7 | 3.2 | 3.3 | 3.5 | 4.0 | 3.7 | 3.9 | 4.2 | 4.2 | 2.4 | 3.5 | 4.0 |
| Durables | 8.8 | 6.8 | 7.6 | 22.2 | 4.9 | 6.8 | 8.6 | 8.6 | 9.5 | 11.3 | 11.0 | 9.8 | 11.2 | 7.2 | 10.4 |
| Nondurables | 4.2 | 1.9 | 2.5 | 4.3 | 4.3 | 3.5 | 3.3 | 2.8 | 2.8 | 2.8 | 3.2 | 3.6 | 3.2 | 3.5 | 3.1 |
| Services | .1 | 1.6 | 1.6 | 1.4 | 2.5 | 3.0 | 3.0 | 3.2 | 2.8 | 2.8 | 3.0 | 3.5 | 1.2 | 2.9 | 3.0 |
| Residential investment | -12.3 | 25.7 | -27.3 | .7 | 3.2 | 9.2 | 12.5 | 11.9 | 13.0 | 13.9 | 13.5 | 13.5 | -5.2 | 9.1 | 13.5 |
| Previous Tealbook | -12.3 | 25.7 | -27.8 | -3.8 | 2.9 | 8.0 | 14.0 | 15.6 | 13.5 | 13.6 | 13.5 | 13.7 | -6.5 | 10.0 | 13.6 |
| Business fixed invest. | 7.8 | 17.2 | 10.0 | 3.7 | 9.4 | 9.5 | 10.4 | 10.1 | 6.8 | 7.9 | 8.1 | 8.9 | 9.6 | 9.8 | 7.9 |
| Previous Tealbook | 7.8 | 17.2 | 10.1 | 4.0 | 5.9 | 9.1 | 9.1 | 9.8 | 5.9 | 7.2 | 7.3 | 8.1 | 9.7 | 8.5 | 7.1 |
| Equipment & software | 20.4 | 24.8 | 15.4 | 3.7 | 13.3 | 13.0 | 14.3 | 13.8 | 9.2 | 10.5 | 10.8 | 11.8 | 15.8 | 13.6 | 10.6 |
| Previous Tealbook | 20.4 | 24.8 | 16.1 | 5.8 | 9.4 | 12.7 | 12.6 | 13.3 | 8.5 | 10.0 | 9.8 | 10.6 | 16.6 | 12.0 | 9.7 |
| Nonres. structures | -17.8 | -.5 | -3.5 | 3.7 | -.8 | .0 | -.3 | -.4 | -.3 | .0 | .0 | .2 | -4.9 | -.4 | .0 |
| Previous Tealbook | -17.8 | -.5 | -4.9 | -.9 | -3.5 | -.7 | -.7 | -.5 | -1.8 | -1.3 | -.4 | .4 | -6.3 | -1.4 | -.8 |
| Net exports2 | -338 | -449 | -505 | -389 | -395 | -402 | -408 | -373 | -360 | -353 | -355 | -346 | -420 | -394 | -354 |
| Previous Tealbook2 | -338 | -449 | -506 | -450 | -441 | -432 | -426 | -422 | -413 | -411 | -418 | -412 | -436 | -430 | -413 |
| Exports | 11.4 | 9.1 | 6.8 | 8.9 | 10.1 | 9.1 | 8.7 | 8.8 | 8.9 | 8.6 | 8.4 | 8.5 | 9.0 | 9.2 | 8.6 |
| Imports | 11.2 | 33.5 | 16.8 | -13.8 | 9.3 | 8.8 | 8.3 | .8 | 5.0 | 5.8 | 7.5 | 5.6 | 10.6 | 6.7 | 6.0 |
| Gov't. cons. & invest. | -1.6 | 3.9 | 3.9 | -.1 | .8 | .5 | .5 | .6 | .5 | .6 | .7 | .9 | 1.5 | .6 | .7 |
| Previous Tealbook | -1.6 | 3.9 | 4.0 | .9 | .5 | .6 | .8 | .8 | .7 | .8 | .9 | 1.0 | 1.8 | .7 | .8 |
| Federal | 1.8 | 9.1 | 8.8 | 1.1 | 2.1 | .9 | .6 | .4 | .0 | .0 | -.1 | .0 | 5.2 | 1.0 | .0 |
| Defense | .4 | 7.4 | 8.5 | 1.0 | 1.2 | .0 | .0 | .1 | .0 | .0 | -.1 | .1 | 4.2 | .3 | .0 |
| Nondefense | 5.0 | 12.8 | 9.5 | 1.4 | 4.0 | 3.0 | 2.0 | 1.0 | .1 | .0 | .0 | .0 | 7.1 | 2.5 | .0 |
| State & local | -3.8 | .6 | .7 | -.9 | -.1 | .2 | .4 | .7 | .9 | 1.0 | 1.3 | 1.5 | -.8 | .3 | 1.2 |
| Change in bus. inventories2 | 44 | 69 | 121 | 26 | 42 | 53 | 57 | 28 | 41 | 54 | 70 | 69 | 65 | 45 | 59 |
| Previous Tealbook2 | 44 | 69 | 116 | 66 | 69 | 62 | 53 | 50 | 65 | 81 | 98 | 99 | 74 | 58 | 86 |
| Nonfarm2 | 37 | 61 | 117 | 22 | 39 | 49 | 54 | 24 | 37 | 50 | 67 | 66 | 59 | 41 | 55 |
| Farm2 | 8 | 8 | 5 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 6 | 4 | 4 |
1. Change from fourth quarter of previous year to fourth quarter of year indicated. Return to table
2. Billions of chained (2005) dollars. Return to table
Changes in Real Gross Domestic Product and Related Items
| Item | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 |
|---|---|---|---|---|---|---|---|---|---|
| Real GDP | 3.1 | 2.7 | 2.4 | 2.3 | -2.8 | .2 | 2.9 | 3.8 | 4.4 |
| Previous Tealbook | 3.1 | 2.7 | 2.4 | 2.3 | -2.8 | .2 | 2.7 | 3.7 | 4.4 |
| Final sales | 2.8 | 2.7 | 2.8 | 2.5 | -1.9 | -.3 | 2.4 | 3.8 | 4.1 |
| Previous Tealbook | 2.8 | 2.7 | 2.8 | 2.5 | -1.9 | -.3 | 1.8 | 3.9 | 4.1 |
| Priv. dom. final purch. | 4.2 | 3.1 | 2.5 | 1.3 | -3.8 | -2.0 | 3.2 | 4.4 | 4.6 |
| Previous Tealbook | 4.2 | 3.1 | 2.5 | 1.3 | -3.8 | -2.0 | 3.0 | 4.3 | 4.7 |
| Personal cons. expend. | 3.5 | 2.7 | 3.3 | 1.7 | -1.9 | .2 | 2.6 | 3.5 | 3.8 |
| Previous Tealbook | 3.5 | 2.7 | 3.3 | 1.7 | -1.9 | .2 | 2.4 | 3.5 | 4.0 |
| Durables | 5.5 | 2.1 | 6.3 | 3.9 | -12.3 | 4.8 | 11.2 | 7.2 | 10.4 |
| Nondurables | 3.0 | 3.3 | 3.2 | .8 | -2.9 | 1.1 | 3.2 | 3.5 | 3.1 |
| Services | 3.4 | 2.6 | 2.8 | 1.7 | .3 | -.8 | 1.2 | 2.9 | 3.0 |
| Residential investment | 6.6 | 5.3 | -15.7 | -20.7 | -24.6 | -13.4 | -5.2 | 9.1 | 13.5 |
| Previous Tealbook | 6.6 | 5.3 | -15.7 | -20.7 | -24.6 | -13.4 | -6.5 | 10.0 | 13.6 |
| Business fixed invest. | 7.0 | 4.4 | 7.8 | 8.2 | -8.3 | -12.7 | 9.6 | 9.8 | 7.9 |
| Previous Tealbook | 7.0 | 4.4 | 7.8 | 8.2 | -8.3 | -12.7 | 9.7 | 8.5 | 7.1 |
| Equipment & software | 8.8 | 6.1 | 6.0 | 4.3 | -11.8 | -4.9 | 15.8 | 13.6 | 10.6 |
| Previous Tealbook | 8.8 | 6.1 | 6.0 | 4.3 | -11.8 | -4.9 | 16.6 | 12.0 | 9.7 |
| Nonres. structures | 1.7 | -.1 | 13.0 | 17.3 | -1.5 | -26.5 | -4.9 | -.4 | .0 |
| Previous Tealbook | 1.7 | -.1 | 13.0 | 17.3 | -1.5 | -26.5 | -6.3 | -1.4 | -.8 |
| Net exports1 | -688 | -723 | -729 | -655 | -504 | -363 | -420 | -394 | -354 |
| Previous Tealbook1 | -688 | -723 | -729 | -655 | -504 | -363 | -436 | -430 | -413 |
| Exports | 7.1 | 6.7 | 10.2 | 10.1 | -2.9 | -.1 | 9.0 | 9.2 | 8.6 |
| Imports | 10.9 | 5.2 | 4.1 | .7 | -6.0 | -7.2 | 10.6 | 6.7 | 6.0 |
| Gov't. cons. & invest. | .6 | .7 | 1.5 | 1.9 | 3.1 | .8 | 1.5 | .6 | .7 |
| Previous Tealbook | .6 | .7 | 1.5 | 1.9 | 3.1 | .8 | 1.8 | .7 | .8 |
| Federal | 2.3 | 1.2 | 2.2 | 3.1 | 9.2 | 3.6 | 5.2 | 1.0 | .0 |
| Defense | 2.4 | .4 | 4.4 | 2.6 | 9.5 | 3.3 | 4.2 | .3 | .0 |
| Nondefense | 2.3 | 2.6 | -2.3 | 4.2 | 8.5 | 4.5 | 7.1 | 2.5 | .0 |
| State & local | -.4 | .4 | 1.2 | 1.2 | -.4 | -1.0 | -.8 | .3 | 1.2 |
| Change in bus. inventories1 | 66 | 50 | 59 | 28 | -38 | -113 | 65 | 45 | 59 |
| Previous Tealbook1 | 66 | 50 | 59 | 28 | -38 | -113 | 74 | 58 | 86 |
| Nonfarm1 | 58 | 50 | 63 | 29 | -39 | -117 | 59 | 41 | 55 |
| Farm1 | 8 | 0 | -4 | -1 | 1 | 3 | 6 | 4 | 4 |
1. Billions of chained (2005) dollars. Return to table
Contributions to Changes in Real Gross Domestic Product
| Item | 2010 | 2011 | 2012 | 2010 1 | 2011 1 | 2012 1 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | ||||
| Real GDP | 3.7 | 1.7 | 2.6 | 3.8 | 3.6 | 3.7 | 3.8 | 4.2 | 4.3 | 4.4 | 4.5 | 4.6 | 2.9 | 3.8 | 4.4 |
| Previous Tealbook | 3.7 | 1.7 | 2.7 | 2.5 | 3.4 | 3.5 | 3.7 | 4.3 | 4.3 | 4.4 | 4.5 | 4.5 | 2.7 | 3.7 | 4.4 |
| Final sales | 1.1 | .9 | .9 | 6.8 | 3.2 | 3.4 | 3.7 | 5.0 | 4.0 | 4.1 | 4.0 | 4.6 | 2.4 | 3.8 | 4.1 |
| Previous Tealbook | 1.1 | .9 | 1.2 | 4.1 | 3.3 | 3.7 | 4.0 | 4.4 | 3.9 | 4.0 | 4.0 | 4.5 | 1.8 | 3.9 | 4.1 |
| Priv. dom. final purch. | 1.7 | 3.6 | 1.9 | 3.3 | 3.2 | 3.6 | 3.8 | 3.9 | 3.5 | 3.7 | 3.9 | 4.2 | 2.6 | 3.6 | 3.8 |
| Previous Tealbook | 1.7 | 3.6 | 2.2 | 2.2 | 2.9 | 3.4 | 3.7 | 4.1 | 3.5 | 3.8 | 4.0 | 4.1 | 2.4 | 3.5 | 3.9 |
| Personal cons. expend. | 1.3 | 1.5 | 1.7 | 2.9 | 2.2 | 2.5 | 2.6 | 2.6 | 2.5 | 2.6 | 2.8 | 2.9 | 1.9 | 2.5 | 2.7 |
| Previous Tealbook | 1.3 | 1.5 | 2.0 | 1.9 | 2.3 | 2.3 | 2.5 | 2.8 | 2.6 | 2.7 | 3.0 | 3.0 | 1.7 | 2.5 | 2.8 |
| Durables | .6 | .5 | .5 | 1.5 | .4 | .5 | .6 | .6 | .7 | .8 | .8 | .7 | .8 | .5 | .8 |
| Nondurables | .7 | .3 | .4 | .7 | .7 | .6 | .5 | .5 | .5 | .5 | .5 | .6 | .5 | .6 | .5 |
| Services | .0 | .8 | .7 | .7 | 1.2 | 1.4 | 1.4 | 1.5 | 1.3 | 1.3 | 1.4 | 1.6 | .6 | 1.4 | 1.4 |
| Residential investment | -.3 | .6 | -.8 | .0 | .1 | .2 | .3 | .3 | .3 | .3 | .3 | .3 | -.1 | .2 | .3 |
| Previous Tealbook | -.3 | .6 | -.8 | -.1 | .1 | .2 | .3 | .3 | .3 | .3 | .3 | .3 | -.2 | .2 | .3 |
| Business fixed invest. | .7 | 1.5 | .9 | .4 | .9 | .9 | 1.0 | 1.0 | .7 | .8 | .8 | .9 | .9 | 1.0 | .8 |
| Previous Tealbook | .7 | 1.5 | .9 | .4 | .6 | .9 | .9 | 1.0 | .6 | .7 | .7 | .8 | .9 | .8 | .7 |
| Equipment & software | 1.2 | 1.5 | 1.0 | .3 | .9 | .9 | 1.0 | 1.0 | .7 | .8 | .8 | .9 | 1.0 | 1.0 | .8 |
| Previous Tealbook | 1.2 | 1.5 | 1.1 | .4 | .7 | .9 | .9 | 1.0 | .6 | .8 | .7 | .8 | 1.1 | .9 | .7 |
| Nonres. structures | -.5 | .0 | -.1 | .1 | .0 | .0 | .0 | .0 | .0 | .0 | .0 | .0 | -.1 | .0 | .0 |
| Previous Tealbook | -.5 | .0 | -.1 | .0 | -.1 | .0 | .0 | .0 | .0 | .0 | .0 | .0 | -.2 | .0 | .0 |
| Net exports | -.3 | -3.5 | -1.7 | 3.5 | -.2 | -.3 | -.2 | 1.0 | .4 | .2 | -.1 | .2 | -.5 | .1 | .2 |
| Previous Tealbook | -.3 | -3.5 | -1.7 | 1.7 | .3 | .2 | .1 | .1 | .3 | .0 | -.2 | .1 | -1.0 | .2 | .0 |
| Exports | 1.3 | 1.1 | .8 | 1.1 | 1.3 | 1.2 | 1.1 | 1.2 | 1.2 | 1.2 | 1.2 | 1.2 | 1.1 | 1.2 | 1.2 |
| Imports | -1.6 | -4.6 | -2.5 | 2.4 | -1.5 | -1.4 | -1.4 | -.1 | -.8 | -1.0 | -1.3 | -1.0 | -1.6 | -1.1 | -1.0 |
| Gov't. cons. & invest. | -.3 | .8 | .8 | .0 | .2 | .1 | .1 | .1 | .1 | .1 | .2 | .2 | .3 | .1 | .1 |
| Previous Tealbook | -.3 | .8 | .8 | .2 | .1 | .1 | .2 | .2 | .1 | .2 | .2 | .2 | .4 | .1 | .2 |
| Federal | .2 | .7 | .7 | .1 | .2 | .1 | .1 | .0 | .0 | .0 | .0 | .0 | .4 | .1 | .0 |
| Defense | .0 | .4 | .5 | .1 | .1 | .0 | .0 | .0 | .0 | .0 | .0 | .0 | .2 | .0 | .0 |
| Nondefense | .1 | .3 | .3 | .0 | .1 | .1 | .1 | .0 | .0 | .0 | .0 | .0 | .2 | .1 | .0 |
| State & local | -.5 | .1 | .1 | -.1 | .0 | .0 | .0 | .1 | .1 | .1 | .2 | .2 | -.1 | .0 | .1 |
| Change in bus. inventories | 2.6 | .8 | 1.6 | -3.0 | .5 | .3 | .1 | -.9 | .4 | .4 | .5 | .0 | .5 | .0 | .3 |
| Previous Tealbook | 2.6 | .8 | 1.5 | -1.6 | .1 | -.2 | -.3 | -.1 | .4 | .5 | .5 | .0 | .8 | -.1 | .4 |
| Nonfarm | 2.6 | .8 | 1.7 | -2.9 | .5 | .3 | .1 | -.9 | .4 | .4 | .5 | .0 | .5 | .0 | .3 |
| Farm | .1 | .0 | -.1 | -.1 | .0 | .0 | .0 | .0 | .0 | .0 | .0 | .0 | .0 | .0 | .0 |
1. Change from fourth quarter of previous year to fourth quarter of year indicated. Return to table
Changes in Prices and Costs
| Item | 2010 | 2011 | 2012 | 2010 1 | 2011 1 | 2012 1 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | ||||
| GDP chain-wt. price index | 1.0 | 1.9 | 2.1 | .0 | 2.0 | 1.0 | 1.0 | .9 | 1.1 | 1.1 | 1.1 | 1.1 | 1.3 | 1.2 | 1.1 |
| Previous Tealbook | 1.0 | 1.9 | 2.3 | .2 | 1.2 | .9 | .8 | .8 | 1.1 | 1.1 | 1.1 | 1.1 | 1.4 | .9 | 1.1 |
| PCE chain-wt. price index | 2.1 | .0 | .8 | 1.9 | 2.0 | 1.1 | 1.2 | 1.0 | 1.0 | 1.0 | 1.0 | 1.0 | 1.2 | 1.3 | 1.0 |
| Previous Tealbook | 2.1 | .0 | 1.0 | 1.8 | 1.6 | 1.0 | .9 | .7 | .9 | .9 | .9 | .9 | 1.2 | 1.1 | .9 |
| Energy | 16.4 | -17.5 | 5.4 | 25.9 | 20.5 | 1.7 | 2.8 | 1.0 | .4 | .0 | -.1 | -.1 | 6.3 | 6.2 | .1 |
| Previous Tealbook | 16.4 | -17.5 | 5.6 | 23.0 | 11.7 | 2.5 | 1.2 | .4 | .1 | -.3 | .0 | .3 | 5.7 | 3.8 | .0 |
| Food | 1.8 | 1.6 | .3 | 1.5 | 2.1 | 2.1 | 1.6 | 1.1 | 1.0 | 1.1 | 1.2 | 1.2 | 1.3 | 1.7 | 1.1 |
| Previous Tealbook | 1.8 | 1.6 | .3 | 1.8 | 1.6 | 1.2 | .9 | .8 | 1.0 | 1.1 | 1.2 | 1.2 | 1.4 | 1.1 | 1.1 |
| Ex. food & energy | 1.2 | 1.0 | .5 | .6 | .9 | 1.0 | 1.0 | .9 | 1.0 | 1.0 | 1.0 | 1.0 | .8 | 1.0 | 1.0 |
| Previous Tealbook | 1.2 | 1.0 | .8 | .6 | 1.0 | .9 | .9 | .8 | .9 | .9 | .9 | .9 | .9 | .9 | .9 |
| Ex. food & energy, market based | .7 | 1.0 | 1.1 | .3 | .8 | .9 | .9 | .7 | .9 | .9 | .9 | .9 | .8 | .8 | .9 |
| Previous Tealbook | .7 | 1.0 | 1.1 | .1 | .9 | .8 | .8 | .4 | .8 | .8 | .8 | .8 | .7 | .7 | .8 |
| CPI | 1.5 | -.7 | 1.5 | 2.6 | 2.7 | 1.1 | 1.2 | 1.0 | .9 | .9 | 1.0 | 1.0 | 1.2 | 1.5 | .9 |
| Previous Tealbook | 1.5 | -.7 | 1.5 | 2.2 | 1.8 | 1.1 | 1.0 | .9 | .9 | .9 | .9 | 1.0 | 1.1 | 1.2 | .9 |
| Ex. food & energy | .0 | .9 | 1.2 | .4 | 1.0 | 1.0 | 1.0 | .9 | 1.0 | 1.0 | 1.1 | 1.1 | .6 | 1.0 | 1.0 |
| Previous Tealbook | .0 | .9 | 1.2 | .3 | .9 | .9 | .9 | .9 | .9 | 1.0 | 1.0 | 1.1 | .6 | .9 | 1.0 |
| ECI, hourly compensation2 | 2.6 | 1.8 | 1.8 | 2.0 | 2.3 | 2.1 | 2.1 | 2.1 | 2.6 | 2.4 | 2.4 | 2.4 | 2.0 | 2.1 | 2.4 |
| Previous Tealbook2 | 2.6 | 1.8 | 1.8 | 2.0 | 2.3 | 2.1 | 2.0 | 2.1 | 2.5 | 2.2 | 2.2 | 2.2 | 2.0 | 2.1 | 2.3 |
| Nonfarm business sector | |||||||||||||||
| Output per hour | 3.9 | -1.8 | 2.3 | 2.6 | 1.8 | 1.4 | 1.3 | 1.6 | 1.8 | 2.0 | 1.9 | 2.0 | 1.7 | 1.5 | 1.9 |
| Previous Tealbook | 3.9 | -1.8 | 2.5 | .9 | 2.0 | 1.2 | 1.3 | 2.1 | 2.1 | 2.1 | 2.1 | 2.1 | 1.3 | 1.7 | 2.1 |
| Compensation per hour | -.9 | 2.9 | 2.1 | 2.1 | 2.4 | 1.8 | 1.8 | 1.8 | 2.5 | 2.2 | 2.2 | 2.3 | 1.5 | 1.9 | 2.3 |
| Previous Tealbook | -.9 | 2.9 | 2.2 | 2.1 | 2.4 | 1.8 | 1.7 | 1.7 | 2.3 | 2.0 | 2.0 | 2.1 | 1.6 | 1.9 | 2.1 |
| Unit labor costs | -4.6 | 4.9 | -.2 | -.4 | .6 | .4 | .5 | .1 | .7 | .2 | .3 | .3 | -.2 | .4 | .4 |
| Previous Tealbook | -4.6 | 4.9 | -.3 | 1.2 | .4 | .6 | .4 | -.4 | .2 | -.1 | -.1 | .0 | .2 | .2 | .0 |
| Core goods imports chain-wt. price index3 | 4.2 | 3.1 | -.8 | 6.2 | 5.5 | 3.6 | 2.2 | 1.5 | 1.3 | 1.4 | 1.4 | 1.4 | 3.1 | 3.2 | 1.4 |
| Previous Tealbook3 | 4.2 | 3.1 | -.4 | 5.2 | 4.7 | 2.2 | 1.8 | 1.2 | 1.3 | 1.4 | 1.4 | 1.4 | 3.0 | 2.5 | 1.4 |
1. Change from fourth quarter of previous year to fourth quarter of year indicated. Return to table
2. Private-industry workers. Return to table
3. Core goods imports exclude computers, semiconductors, oil, and natural gas. Return to table
Changes in Prices and Costs
| Item | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 |
|---|---|---|---|---|---|---|---|---|---|
| GDP chain-wt. price index | 3.2 | 3.5 | 2.9 | 2.6 | 2.1 | .5 | 1.3 | 1.2 | 1.1 |
| Previous Tealbook | 3.2 | 3.5 | 2.9 | 2.6 | 2.1 | .5 | 1.4 | .9 | 1.1 |
| PCE chain-wt. price index | 3.0 | 3.3 | 1.9 | 3.5 | 1.7 | 1.5 | 1.2 | 1.3 | 1.0 |
| Previous Tealbook | 3.0 | 3.3 | 1.9 | 3.5 | 1.7 | 1.5 | 1.2 | 1.1 | .9 |
| Energy | 18.6 | 21.5 | -3.7 | 19.4 | -9.0 | 2.7 | 6.3 | 6.2 | .1 |
| Previous Tealbook | 18.6 | 21.5 | -3.7 | 19.4 | -9.0 | 2.7 | 5.7 | 3.8 | .0 |
| Food | 2.7 | 1.5 | 1.7 | 4.8 | 6.9 | -1.6 | 1.3 | 1.7 | 1.1 |
| Previous Tealbook | 2.7 | 1.5 | 1.7 | 4.8 | 6.9 | -1.6 | 1.4 | 1.1 | 1.1 |
| Ex. food & energy | 2.2 | 2.3 | 2.3 | 2.4 | 2.0 | 1.7 | .8 | 1.0 | 1.0 |
| Previous Tealbook | 2.2 | 2.3 | 2.3 | 2.4 | 2.0 | 1.7 | .9 | .9 | .9 |
| Ex. food & energy, market based | 1.9 | 2.1 | 2.2 | 2.2 | 2.2 | 1.7 | .8 | .8 | .9 |
| Previous Tealbook | 1.9 | 2.1 | 2.2 | 2.2 | 2.2 | 1.7 | .7 | .7 | .8 |
| CPI | 3.4 | 3.7 | 1.9 | 4.0 | 1.6 | 1.5 | 1.2 | 1.5 | .9 |
| Previous Tealbook | 3.4 | 3.7 | 1.9 | 4.0 | 1.6 | 1.5 | 1.1 | 1.2 | .9 |
| Ex. food & energy | 2.2 | 2.1 | 2.7 | 2.3 | 2.0 | 1.7 | .6 | 1.0 | 1.0 |
| Previous Tealbook | 2.2 | 2.1 | 2.7 | 2.3 | 2.0 | 1.7 | .6 | .9 | 1.0 |
| ECI, hourly compensation1 | 3.8 | 2.9 | 3.2 | 3.0 | 2.4 | 1.2 | 2.0 | 2.1 | 2.4 |
| Previous Tealbook1 | 3.8 | 2.9 | 3.2 | 3.0 | 2.4 | 1.2 | 2.0 | 2.1 | 2.3 |
| Nonfarm business sector | |||||||||
| Output per hour | 1.5 | 1.4 | .9 | 2.6 | -.4 | 6.2 | 1.7 | 1.5 | 1.9 |
| Previous Tealbook | 1.5 | 1.4 | .9 | 2.6 | -.4 | 6.2 | 1.3 | 1.7 | 2.1 |
| Compensation per hour | 3.3 | 3.5 | 4.5 | 3.6 | 2.3 | 2.5 | 1.5 | 1.9 | 2.3 |
| Previous Tealbook | 3.3 | 3.5 | 4.5 | 3.6 | 2.3 | 2.5 | 1.6 | 1.9 | 2.1 |
| Unit labor costs | 1.9 | 2.0 | 3.5 | .9 | 2.7 | -3.5 | -.2 | .4 | .4 |
| Previous Tealbook | 1.9 | 2.0 | 3.5 | .9 | 2.7 | -3.5 | .2 | .2 | .0 |
| Core goods imports chain-wt. price index2 | 3.6 | 2.2 | 2.5 | 2.9 | 3.5 | -1.9 | 3.1 | 3.2 | 1.4 |
| Previous Tealbook2 | 3.6 | 2.2 | 2.5 | 2.9 | 3.5 | -1.9 | 3.0 | 2.5 | 1.4 |
1. Private-industry workers. Return to table
2. Core goods imports exclude computers, semiconductors, oil, and natural gas. Return to table
Other Macroeconomic Indicators
| Item | 2010 | 2011 | 2012 | 2010 1 | 2011 1 | 2012 1 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | ||||
| Employment and production | |||||||||||||||
| Nonfarm payroll employment2 | .1 | .7 | .0 | .3 | .4 | .6 | .7 | .8 | .9 | .9 | .9 | .9 | 1.0 | 2.6 | 3.7 |
| Unemployment rate3 | 9.7 | 9.6 | 9.6 | 9.6 | 9.5 | 9.3 | 9.1 | 8.9 | 8.7 | 8.4 | 8.1 | 7.8 | 9.6 | 8.9 | 7.8 |
| Previous Tealbook3 | 9.7 | 9.7 | 9.6 | 9.7 | 9.5 | 9.4 | 9.1 | 8.9 | 8.8 | 8.6 | 8.3 | 8.0 | 9.7 | 8.9 | 8.0 |
| NAIRU3 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 |
| Previous Tealbook3 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 |
| GDP gap4 | -6.4 | -6.6 | -6.6 | -6.3 | -6.0 | -5.8 | -5.4 | -5.1 | -4.7 | -4.2 | -3.8 | -3.3 | -6.3 | -5.1 | -3.3 |
| Previous Tealbook4 | -6.4 | -6.6 | -6.6 | -6.6 | -6.4 | -6.1 | -5.9 | -5.5 | -5.1 | -4.6 | -4.2 | -3.7 | -6.6 | -5.5 | -3.7 |
| Industrial production5 | 7.1 | 7.2 | 6.5 | 2.4 | 6.7 | 3.2 | 4.3 | 3.6 | 4.1 | 5.3 | 5.2 | 4.3 | 5.8 | 4.4 | 4.7 |
| Previous Tealbook5 | 7.1 | 7.1 | 5.2 | 1.8 | 5.9 | 3.5 | 3.7 | 3.5 | 3.8 | 4.8 | 4.8 | 4.2 | 5.3 | 4.1 | 4.4 |
| Manufacturing industr. prod.5 | 6.2 | 9.4 | 4.5 | 3.3 | 6.9 | 4.7 | 4.8 | 4.3 | 5.0 | 6.2 | 5.9 | 5.1 | 5.8 | 5.2 | 5.5 |
| Previous Tealbook5 | 6.2 | 9.3 | 3.7 | 3.8 | 5.4 | 3.7 | 4.2 | 4.3 | 4.4 | 5.7 | 5.5 | 4.7 | 5.7 | 4.4 | 5.1 |
| Capacity utilization rate - mfg.3 | 70.0 | 71.6 | 72.4 | 73.0 | 74.0 | 74.7 | 75.4 | 76.1 | 76.7 | 77.5 | 78.4 | 79.0 | 73.0 | 76.1 | 79.0 |
| Previous Tealbook3 | 70.0 | 71.6 | 72.3 | 72.9 | 73.7 | 74.2 | 74.8 | 75.5 | 76.0 | 76.8 | 77.6 | 78.2 | 72.9 | 75.5 | 78.2 |
| Housing starts6 | .6 | .6 | .6 | .5 | .6 | .6 | .7 | .7 | .8 | .8 | .9 | 1.0 | .6 | .6 | .9 |
| Light motor vehicle sales6 | 11.0 | 11.3 | 11.6 | 12.3 | 12.3 | 12.6 | 13.0 | 13.5 | 13.9 | 14.7 | 15.2 | 15.7 | 11.5 | 12.9 | 14.9 |
| Income and saving | |||||||||||||||
| Nominal GDP5 | 4.8 | 3.7 | 4.6 | 3.8 | 5.7 | 4.7 | 4.9 | 5.1 | 5.5 | 5.6 | 5.6 | 5.7 | 4.3 | 5.1 | 5.6 |
| Real disposable pers. income5 | 1.3 | 5.6 | .9 | 1.3 | 5.3 | 3.4 | 3.6 | 4.1 | .1 | 3.9 | 4.1 | 4.3 | 2.3 | 4.1 | 3.1 |
| Previous Tealbook5 | 1.3 | 5.6 | .9 | 1.5 | 5.2 | 3.3 | 3.7 | 4.1 | .1 | 4.3 | 3.9 | 4.3 | 2.3 | 4.1 | 3.1 |
| Personal saving rate3 | 5.5 | 6.2 | 5.9 | 5.4 | 5.9 | 5.9 | 5.9 | 6.0 | 5.2 | 5.2 | 5.2 | 5.2 | 5.4 | 6.0 | 5.2 |
| Previous Tealbook3 | 5.5 | 6.2 | 5.8 | 5.6 | 6.1 | 6.1 | 6.2 | 6.2 | 5.4 | 5.4 | 5.3 | 5.3 | 5.6 | 6.2 | 5.3 |
| Corporate profits7 | 48.9 | 12.7 | 6.6 | 20.9 | 9.8 | 2.8 | 5.4 | 5.5 | 4.1 | 5.9 | 6.0 | 7.3 | 21.3 | 5.9 | 5.8 |
| Profit share of GNP3 | 10.7 | 10.9 | 11.0 | 11.4 | 11.5 | 11.5 | 11.5 | 11.5 | 11.5 | 11.5 | 11.5 | 11.5 | 11.4 | 11.5 | 11.5 |
| Net federal saving8 | -1,314 | -1,337 | -1,344 | -1,333 | -1,409 | -1,375 | -1,357 | -1,336 | -1,170 | -1,124 | -1,100 | -1,071 | -1,332 | -1,369 | -1,116 |
| Net state & local saving8 | 29 | 16 | 48 | 69 | 33 | 40 | 34 | 30 | 36 | 44 | 54 | 59 | 40 | 34 | 48 |
| Gross national saving rate3 | 11.1 | 11.7 | 11.6 | 11.7 | 11.8 | 12.1 | 12.3 | 12.5 | 12.7 | 13.1 | 13.4 | 13.7 | 11.7 | 12.5 | 13.7 |
| Net national saving rate3 | -1.8 | -1.1 | -1.1 | -.7 | -.5 | -.2 | .0 | .3 | .5 | 1.0 | 1.3 | 1.7 | -.7 | .3 | 1.7 |
1. Change from fourth quarter of previous year to fourth quarter of year indicated, unless otherwise indicated. Return to table
2. Change, millions. Return to table
3. Percent; annual values are for the fourth quarter of the year indicated. Return to table
4. Percent difference between actual and potential GDP; a negative number indicates that the economy is operating below potential. Annual values are for the fourth quarter of the year indicated. Return to table
5. Percent change, annual rate. Return to table
6. Level, millions; annual values are annual averages. Return to table
7. Percent change, annual rate, with inventory valuation and capital consumption adjustments. Return to table
8. Billions of dollars; annual values are annual averages. Return to table
Other Macroeconomic Indicators
| Item | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 |
|---|---|---|---|---|---|---|---|---|---|
| Employment and production | |||||||||
| Nonfarm payroll employment1 | 2.0 | 2.4 | 2.1 | 1.2 | -2.8 | -5.4 | 1.0 | 2.6 | 3.7 |
| Unemployment rate2 | 5.4 | 5.0 | 4.5 | 4.8 | 6.9 | 10.0 | 9.6 | 8.9 | 7.8 |
| Previous Tealbook2 | 5.4 | 5.0 | 4.5 | 4.8 | 6.9 | 10.0 | 9.7 | 8.9 | 8.0 |
| NAIRU2 | 5.0 | 5.0 | 5.0 | 5.0 | 5.3 | 6.0 | 6.0 | 6.0 | 6.0 |
| Previous Tealbook2 | 5.0 | 5.0 | 5.0 | 5.0 | 5.3 | 6.0 | 6.0 | 6.0 | 6.0 |
| GDP gap3 | -.4 | .0 | .0 | .0 | -4.9 | -6.7 | -6.3 | -5.1 | -3.3 |
| Previous Tealbook3 | -.5 | .0 | .0 | .0 | -4.9 | -6.7 | -6.6 | -5.5 | -3.7 |
| Industrial production4 | 2.9 | 2.3 | 2.5 | 2.3 | -7.6 | -3.8 | 5.8 | 4.4 | 4.7 |
| Previous Tealbook4 | 2.9 | 2.3 | 2.5 | 2.3 | -7.6 | -3.8 | 5.3 | 4.1 | 4.4 |
| Manufacturing industr. prod.4 | 3.5 | 3.5 | 2.0 | 2.6 | -10.0 | -4.1 | 5.8 | 5.2 | 5.5 |
| Previous Tealbook4 | 3.5 | 3.5 | 2.0 | 2.6 | -10.0 | -4.1 | 5.7 | 4.4 | 5.1 |
| Capacity utilization rate - mfg.2 | 77.4 | 78.8 | 79.0 | 79.1 | 70.9 | 68.8 | 73.0 | 76.1 | 79.0 |
| Previous Tealbook2 | 77.4 | 78.8 | 79.0 | 79.1 | 70.9 | 68.8 | 72.9 | 75.5 | 78.2 |
| Housing starts5 | 2.0 | 2.1 | 1.8 | 1.4 | .9 | .6 | .6 | .6 | .9 |
| Light motor vehicle sales5 | 16.8 | 16.9 | 16.5 | 16.1 | 13.1 | 10.3 | 11.5 | 12.9 | 14.9 |
| Income and saving | |||||||||
| Nominal GDP4 | 6.4 | 6.3 | 5.4 | 5.0 | -.7 | .6 | 4.3 | 5.1 | 5.6 |
| Real disposable pers. income4 | 3.5 | .6 | 4.6 | 1.5 | 1.0 | .4 | 2.3 | 4.1 | 3.1 |
| Previous Tealbook4 | 3.5 | .6 | 4.6 | 1.5 | 1.0 | .4 | 2.3 | 4.1 | 3.1 |
| Personal saving rate2 | 3.6 | 1.5 | 2.5 | 2.1 | 5.2 | 5.5 | 5.4 | 6.0 | 5.2 |
| Previous Tealbook2 | 3.6 | 1.5 | 2.5 | 2.1 | 5.2 | 5.5 | 5.6 | 6.2 | 5.3 |
| Corporate profits6 | 21.9 | 19.6 | 3.7 | -8.1 | -31.9 | 42.5 | 21.3 | 5.9 | 5.8 |
| Profit share of GNP2 | 10.5 | 11.8 | 11.6 | 10.1 | 6.9 | 9.8 | 11.4 | 11.5 | 11.5 |
| Net federal saving7 | -379 | -283 | -204 | -245 | -616 | -1252 | -1332 | -1369 | -1116 |
| Net state & local saving7 | -8 | 26 | 51 | 12 | -47 | -20 | 40 | 34 | 48 |
| Gross national saving rate2 | 14.3 | 15.5 | 16.3 | 13.6 | 11.8 | 10.8 | 11.7 | 12.5 | 13.7 |
| Net national saving rate2 | 2.7 | 3.5 | 4.2 | 1.3 | -1.4 | -2.3 | -.7 | .3 | 1.7 |
1. Change, millions. Return to table
2. Percent; values are for the fourth quarter of the year indicated. Return to table
3. Percent difference between actual and potential GDP; a negative number indicates that the economy is operating below potential. Values are for the fourth quarter of the year indicated. Return to table
4. Percent change. Return to table
5. Level, millions; values are annual averages. Return to table
6. Percent change, with inventory valuation and capital consumption adjustments. Return to table
7. Billions of dollars; values are annual averages. Return to table
Staff Projections of Federal Sector Accounts and Related Items
| Item | Fiscal year | 2010 | 2011 | 2012 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2009a | 2010a | 2011 | 2012 | Q1a | Q2a | Q3a | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
| Unified budget | Not seasonally adjusted | |||||||||||||||
| Receipts1 | 2104 | 2162 | 2274 | 2576 | 466 | 643 | 565 | 532 | 476 | 674 | 593 | 559 | 561 | 786 | 671 | 642 |
| Outlays1 | 3520 | 3456 | 3668 | 3681 | 795 | 930 | 855 | 903 | 935 | 923 | 908 | 929 | 969 | 916 | 867 | 968 |
| Surplus/deficit1 | -1416 | -1294 | -1394 | -1105 | -329 | -287 | -290 | -371 | -459 | -249 | -315 | -370 | -408 | -129 | -197 | -325 |
| Previous Tealbook | -1416 | -1294 | -1389 | -1074 | -329 | -287 | -290 | -384 | -451 | -236 | -318 | -368 | -403 | -114 | -188 | -317 |
| On-budget | -1553 | -1371 | -1398 | -1183 | -359 | -351 | -267 | -392 | -434 | -289 | -282 | -395 | -406 | -198 | -184 | -377 |
| Off-budget | 137 | 77 | 4 | 79 | 30 | 64 | -23 | 21 | -25 | 40 | -33 | 25 | -2 | 69 | -13 | 52 |
| Means of financing | ||||||||||||||||
| Borrowing | 1743 | 1474 | 1375 | 1185 | 478 | 344 | 390 | 368 | 253 | 234 | 520 | 375 | 413 | 169 | 227 | 330 |
| Cash decrease | 96 | -35 | 60 | 0 | -25 | -71 | -20 | -33 | 268 | 9 | -185 | 15 | 15 | -20 | -10 | 15 |
| Other2 | -424 | -145 | -41 | -80 | -124 | 14 | -80 | 36 | -62 | 5 | -20 | -20 | -20 | -20 | -20 | -20 |
| Cash operating balance, end of period | 275 | 310 | 250 | 250 | 219 | 290 | 310 | 343 | 75 | 65 | 250 | 235 | 220 | 240 | 250 | 235 |
| NIPA federal sector | Seasonally adjusted annual rates | |||||||||||||||
| Receipts | 2261 | 2334 | 2448 | 2708 | 2323 | 2365 | 2416 | 2457 | 2407 | 2444 | 2484 | 2524 | 2724 | 2769 | 2815 | 2863 |
| Expenditures | 3355 | 3660 | 3817 | 3890 | 3637 | 3701 | 3761 | 3791 | 3816 | 3819 | 3841 | 3860 | 3894 | 3892 | 3915 | 3934 |
| Consumption expenditures | 977 | 1030 | 1089 | 1118 | 1017 | 1038 | 1062 | 1070 | 1087 | 1095 | 1102 | 1107 | 1117 | 1121 | 1125 | 1130 |
| Defense | 659 | 691 | 726 | 743 | 684 | 695 | 711 | 717 | 727 | 730 | 733 | 735 | 742 | 745 | 748 | 751 |
| Nondefense | 318 | 339 | 362 | 375 | 333 | 343 | 350 | 353 | 361 | 365 | 369 | 371 | 375 | 376 | 377 | 379 |
| Other spending | 2378 | 2630 | 2728 | 2773 | 2620 | 2663 | 2699 | 2721 | 2729 | 2723 | 2739 | 2753 | 2777 | 2771 | 2790 | 2805 |
| Current account surplus | -1094 | -1326 | -1368 | -1182 | -1314 | -1337 | -1344 | -1333 | -1409 | -1375 | -1357 | -1336 | -1170 | -1124 | -1100 | -1071 |
| Gross investment | 151 | 165 | 174 | 175 | 161 | 168 | 172 | 173 | 174 | 175 | 175 | 175 | 175 | 175 | 175 | 175 |
| Gross saving less gross investment3 | -1122 | -1363 | -1409 | -1217 | -1348 | -1376 | -1386 | -1375 | -1450 | -1415 | -1395 | -1373 | -1205 | -1158 | -1132 | -1103 |
| Fiscal indicators4 | ||||||||||||||||
| High-employment (HEB) surplus/deficit | -839 | -1019 | -1091 | -960 | -1011 | -1032 | -1041 | -1031 | -1127 | -1104 | -1100 | -1095 | -931 | -907 | -907 | -904 |
| Change in HEB, percent of potential GDP | 2.2 | 1.0 | .2 | -1.0 | .1 | .1 | .0 | -.1 | .5 | -.2 | -.1 | -.1 | -1.0 | -.2 | -.1 | -.1 |
| Fiscal impetus (FI), percent of GDP | 1.1 | 1.0 | .3 | -.7 | .3 | .3 | .2 | .0 | .1 | .0 | .0 | .0 | -.4 | -.2 | -.2 | -.2 |
| Previous Tealbook | 1.1 | 1.1 | .2 | -.6 | .3 | .3 | .2 | .0 | .0 | .0 | .0 | .0 | -.3 | -.1 | -.3 | -.2 |
1. Budget receipts, outlays, and surplus/deficit include corresponding social security (OASDI) categories. The OASDI surplus and the Postal Service surplus are excluded from the on-budget surplus and shown separately as off-budget, as classified under current law. Return to table
2. Other means of financing are checks issued less checks paid, accrued items, and changes in other financial assets and liabilities. Return to table
3. Gross saving is the current account surplus plus consumption of fixed capital of the general government as well as government enterprises. Return to table
4. HEB is gross saving less gross investment (NIPA) of the federal government in current dollars, with cyclically sensitive receipts and outlays adjusted to the staff's measure of potential output and the NAIRU. Quarterly figures for change in HEB and FI are not at annual rates. The sign on Change in HEB, as a percent of nominal potential GDP, is reversed. FI is the weighted difference of discretionary changes in federal spending and taxes in chained (2005) dollars, scaled by real GDP. The annual FI estimates are on a calendar year basis. Also, for FI and the change in HEB, positive values indicate aggregate demand stimulus. Return to table
a Actual. Return to table
Change in Debt of the Domestic Nonfinancial Sectors
| Period1 | Total | Households | Business | State and local governments | Federal government | Memo: Nominal GDP | |||
|---|---|---|---|---|---|---|---|---|---|
| Total | Home mortgages | Consumer credit | |||||||
| Year | |||||||||
| 2005 | 9.5 | 11.1 | 13.3 | 4.5 | 8.6 | 10.2 | 7.0 | 6.3 | |
| 2006 | 9.0 | 10.1 | 11.2 | 4.1 | 10.5 | 8.3 | 3.9 | 5.4 | |
| 2007 | 8.6 | 6.8 | 6.8 | 5.8 | 13.1 | 9.5 | 4.9 | 5.0 | |
| 2008 | 6.0 | .3 | -.4 | 1.5 | 5.5 | 2.3 | 24.2 | -.7 | |
| 2009 | 3.0 | -1.7 | -1.5 | -4.4 | -2.6 | 4.9 | 22.7 | .6 | |
| 2010 | 4.5 | -2.0 | -3.1 | -2.0 | 1.3 | 5.2 | 20.2 | 4.3 | |
| 2011 | 5.0 | .2 | -1.5 | 3.5 | 2.7 | 4.3 | 14.7 | 5.1 | |
| 2012 | 5.3 | 2.2 | -.1 | 7.9 | 4.1 | 4.8 | 10.6 | 5.6 | |
| Quarter | |||||||||
| 2009: | 1 | 4.7 | -.8 | -.2 | -3.7 | .1 | 5.6 | 24.4 | -3.9 |
| 2 | 4.4 | -1.9 | -1.9 | -4.8 | -2.6 | 4.3 | 28.9 | -.4 | |
| 3 | 2.1 | -2.2 | -2.6 | -3.9 | -4.3 | 5.8 | 19.0 | 2.3 | |
| 4 | .9 | -2.0 | -1.5 | -5.6 | -3.7 | 3.8 | 11.9 | 4.7 | |
| 2010: | 1 | 4.3 | -2.1 | -4.4 | -3.9 | .4 | 5.6 | 20.5 | 4.8 |
| 2 | 4.7 | -2.2 | -2.3 | -3.3 | -.1 | -1.5 | 24.4 | 3.7 | |
| 3 | 4.1 | -1.8 | -2.5 | -1.7 | 1.7 | 5.4 | 16.0 | 4.6 | |
| 4 | 4.6 | -1.9 | -3.6 | .9 | 3.1 | 11.0 | 14.6 | 3.8 | |
| 2011: | 1 | 2.7 | -.7 | -2.2 | 1.5 | 2.6 | 3.9 | 7.5 | 5.7 |
| 2 | 5.3 | .1 | -1.4 | 2.9 | 2.4 | 4.2 | 16.3 | 4.7 | |
| 3 | 6.5 | .6 | -1.2 | 4.2 | 2.6 | 4.3 | 19.2 | 4.9 | |
| 4 | 5.1 | .9 | -1.1 | 5.3 | 3.1 | 4.6 | 12.9 | 5.1 | |
| 2012: | 1 | 5.5 | 1.6 | -.4 | 6.4 | 3.6 | 4.8 | 12.5 | 5.5 |
| 2 | 5.5 | 2.0 | -.2 | 7.4 | 3.9 | 4.8 | 11.7 | 5.6 | |
| 3 | 4.3 | 2.4 | .1 | 8.2 | 4.2 | 4.7 | 6.5 | 5.6 | |
| 4 | 5.5 | 2.6 | .2 | 8.7 | 4.4 | 4.7 | 10.1 | 5.7 | |
Note: Quarterly data are at seasonally adjusted annual rates.
1. Data after 2010:Q3 are staff projections. Changes are measured from end of the preceding period to end of period indicated except for annual nominal GDP growth, which is calculated from Q4 to Q4. Return to table
Flow of Funds Projections: Highlights
| Category | 2009 | 2010 | 2011 | 2012 | 2010 | 2011 | 2012 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |||||
| Domestic nonfinancial sectors | ||||||||||||||
| Net funds raised | ||||||||||||||
| Total | 958.6 | 1302.8 | 1569.7 | 1770.0 | 1120.7 | 1359.3 | 767.4 | 1731.0 | 2119.7 | 1660.6 | 1850.7 | 1887.2 | 1433.6 | 1908.5 |
| Net equity issuance | -64.6 | -267.3 | -244.0 | -248.0 | -348.3 | -305.6 | -220.0 | -220.0 | -268.0 | -268.0 | -248.0 | -248.0 | -248.0 | -248.0 |
| Net debt issuance | 1023.2 | 1570.1 | 1813.7 | 2018.0 | 1468.9 | 1664.9 | 987.4 | 1951.0 | 2387.7 | 1928.6 | 2098.7 | 2135.2 | 1681.6 | 2156.5 |
| Borrowing indicators | ||||||||||||||
| Debt (percent of GDP)1 | 241.7 | 241.8 | 242.0 | 241.5 | 241.9 | 242.3 | 241.2 | 240.8 | 241.5 | 242.0 | 241.9 | 241.9 | 241.5 | 241.1 |
| Borrowing (percent of GDP) | 7.2 | 10.7 | 11.8 | 12.5 | 10.0 | 11.2 | 6.5 | 12.8 | 15.5 | 12.3 | 13.2 | 13.3 | 10.3 | 13.1 |
| Households | ||||||||||||||
| Net borrowing2 | -240.0 | -270.0 | 27.3 | 289.2 | -236.9 | -257.1 | -98.6 | 19.4 | 73.7 | 114.8 | 216.2 | 265.1 | 323.3 | 352.3 |
| Home mortgages | -161.2 | -325.1 | -146.9 | -7.4 | -255.8 | -363.7 | -220.2 | -139.4 | -119.0 | -108.8 | -39.5 | -19.7 | 9.8 | 19.7 |
| Consumer credit | -115.3 | -49.3 | 85.7 | 198.9 | -41.9 | 21.6 | 37.2 | 71.4 | 102.9 | 131.2 | 161.4 | 188.5 | 214.2 | 231.8 |
| Debt/DPI (percent)3 | 124.4 | 118.5 | 112.2 | 109.2 | 117.9 | 116.4 | 114.0 | 112.6 | 111.4 | 110.2 | 110.3 | 109.4 | 108.7 | 107.9 |
| Business | ||||||||||||||
| Financing gap4 | -44.7 | 45.3 | -13.8 | 120.0 | 156.6 | -39.2 | -55.1 | -16.5 | 10.8 | 5.7 | 67.3 | 103.2 | 144.3 | 165.2 |
| Net equity issuance | -64.6 | -267.3 | -244.0 | -248.0 | -348.3 | -305.6 | -220.0 | -220.0 | -268.0 | -268.0 | -248.0 | -248.0 | -248.0 | -248.0 |
| Credit market borrowing | -292.0 | 136.6 | 296.1 | 463.6 | 181.3 | 335.7 | 283.0 | 264.3 | 290.1 | 347.0 | 411.6 | 443.1 | 489.9 | 509.9 |
| State and local governments | ||||||||||||||
| Net borrowing | 111.3 | 123.4 | 107.6 | 125.6 | 128.6 | 266.9 | 97.6 | 105.6 | 109.6 | 117.6 | 125.6 | 125.6 | 125.6 | 125.6 |
| Current surplus5 | 248.2 | 298.3 | 264.9 | 285.7 | 327.4 | 296.4 | 261.2 | 270.1 | 265.4 | 263.1 | 270.4 | 280.3 | 292.6 | 299.5 |
| Federal government | ||||||||||||||
| Net borrowing | 1443.9 | 1580.2 | 1382.7 | 1139.6 | 1395.9 | 1319.5 | 705.4 | 1561.8 | 1914.4 | 1349.3 | 1345.3 | 1301.4 | 742.8 | 1168.9 |
| Net borrowing (n.s.a.) | 1443.9 | 1580.2 | 1382.7 | 1139.6 | 390.1 | 367.9 | 253.4 | 234.4 | 519.6 | 375.3 | 413.3 | 169.3 | 226.7 | 330.2 |
| Unified deficit (n.s.a.) | 1471.3 | 1277.0 | 1393.6 | 1059.6 | 290.2 | 370.8 | 459.5 | 248.8 | 315.0 | 370.3 | 408.3 | 129.3 | 196.7 | 325.2 |
| Depository institutions | ||||||||||||||
| Funds supplied | -639.9 | -135.8 | 70.9 | 247.6 | 772.5 | -313.4 | -196.7 | 79.0 | 190.8 | 210.4 | 230.6 | 260.8 | 277.4 | 221.5 |
Note: Data after 2010:Q3 are staff projections.
1. Average debt levels in the period (computed as the average of period-end debt positions) divided by nominal GDP. Return to table
2. Includes change in liabilities not shown in home mortgages and consumer credit. Return to table
3. Average debt levels in the period (computed as the average of period-end debt positions) divided by disposable personal income. Return to table
4. For corporations, excess of capital expenditures over U.S. internal funds. Return to table
5. NIPA state and local government saving plus consumption of fixed capital and net capital transfers. Return to table
n.s.a. Not seasonally adjusted. Return to table
Foreign Real GDP and Consumer Prices: Selected Countries
| Measure and country | Projected | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2010 | 2011 | 2012 | ||||||||||
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
| Real GDP1 | ||||||||||||
| Total foreign | 5.4 | 5.5 | 2.1 | 3.1 | 3.2 | 3.4 | 3.4 | 3.5 | 3.5 | 3.6 | 3.6 | 3.7 |
| Previous Tealbook | 5.5 | 5.4 | 2.1 | 2.7 | 3.0 | 3.1 | 3.2 | 3.3 | 3.4 | 3.4 | 3.5 | 3.6 |
| Advanced foreign economies | 3.9 | 3.3 | 1.7 | 1.7 | 2.0 | 2.1 | 2.1 | 2.2 | 2.3 | 2.4 | 2.5 | 2.6 |
| Canada | 5.6 | 2.3 | 1.0 | 2.7 | 2.7 | 2.8 | 2.8 | 2.8 | 2.7 | 2.7 | 2.6 | 2.6 |
| Japan | 6.8 | 3.0 | 4.5 | -1.6 | 1.5 | 1.6 | 1.7 | 1.8 | 1.8 | 1.9 | 2.0 | 2.1 |
| United Kingdom | 1.2 | 4.6 | 2.9 | 1.9 | 1.3 | 2.1 | 2.3 | 2.4 | 2.5 | 2.5 | 2.5 | 2.6 |
| Euro area | 1.5 | 4.1 | 1.4 | 1.5 | 1.3 | 1.2 | 1.2 | 1.4 | 1.7 | 2.0 | 2.3 | 2.7 |
| Germany | 2.3 | 9.5 | 2.8 | 2.5 | 2.1 | 1.9 | 1.8 | 1.8 | 2.1 | 2.4 | 2.7 | 3.0 |
| Emerging market economies | 7.4 | 8.4 | 2.5 | 4.9 | 4.8 | 5.0 | 5.1 | 5.1 | 5.1 | 5.1 | 5.1 | 5.1 |
| Asia | 14.4 | 8.0 | 2.1 | 6.1 | 5.8 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.1 |
| Korea | 8.8 | 5.8 | 3.0 | 3.4 | 3.8 | 4.2 | 4.3 | 4.4 | 4.4 | 4.4 | 4.5 | 4.6 |
| China | 10.1 | 6.8 | 9.8 | 9.1 | 8.7 | 8.7 | 8.6 | 8.6 | 8.5 | 8.5 | 8.5 | 8.5 |
| Latin America | 1.4 | 9.3 | 2.8 | 3.1 | 3.9 | 4.2 | 4.3 | 4.2 | 4.2 | 4.2 | 4.1 | 4.1 |
| Mexico | -.2 | 9.5 | 3.0 | 3.2 | 3.7 | 4.0 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 |
| Brazil | 9.4 | 7.2 | 2.1 | 3.8 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 |
| Consumer prices2 | ||||||||||||
| Total foreign | 3.4 | 1.3 | 2.2 | 4.9 | 3.7 | 2.6 | 2.3 | 2.2 | 2.3 | 2.3 | 2.3 | 2.4 |
| Previous Tealbook | 3.4 | 1.4 | 2.2 | 3.9 | 3.0 | 2.5 | 2.2 | 2.2 | 2.2 | 2.3 | 2.3 | 2.4 |
| Advanced foreign economies | 2.0 | -.0 | 1.0 | 3.4 | 2.3 | 1.3 | 1.2 | 1.2 | 1.4 | 1.3 | 1.4 | 1.5 |
| Canada | 2.3 | -.9 | 2.4 | 3.5 | 2.3 | 1.8 | 1.9 | 2.0 | 2.3 | 2.1 | 2.1 | 2.1 |
| Japan | .0 | -1.9 | -1.9 | 2.9 | -.8 | -.8 | -.8 | -.7 | -.7 | -.6 | -.5 | -.4 |
| United Kingdom | 5.4 | 2.4 | 1.3 | 4.5 | 8.1 | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 2.0 | 3.4 |
| Euro Area | 1.9 | 1.5 | 1.2 | 3.5 | 3.0 | 1.8 | 1.3 | 1.3 | 1.4 | 1.4 | 1.5 | 1.6 |
| Germany | 1.5 | .8 | .9 | 3.2 | 1.9 | 1.7 | 1.3 | 1.2 | 1.3 | 1.4 | 1.4 | 1.6 |
| Emerging market economies | 4.7 | 2.6 | 3.3 | 6.4 | 5.1 | 3.7 | 3.3 | 3.2 | 3.2 | 3.2 | 3.2 | 3.1 |
| Asia | 3.6 | 2.1 | 3.6 | 7.0 | 4.7 | 3.3 | 2.8 | 2.8 | 2.8 | 2.8 | 2.8 | 2.8 |
| Korea | 3.3 | 1.9 | 3.4 | 6.0 | 4.4 | 2.9 | 2.6 | 2.4 | 2.4 | 2.4 | 2.4 | 2.4 |
| China | 3.0 | 2.6 | 4.3 | 8.4 | 4.6 | 3.1 | 2.7 | 2.7 | 2.7 | 2.7 | 2.7 | 2.7 |
| Latin America | 7.8 | 3.6 | 2.3 | 4.8 | 6.1 | 4.9 | 4.3 | 4.3 | 4.2 | 4.1 | 4.1 | 4.1 |
| Mexico | 7.9 | 2.7 | 2.1 | 4.3 | 5.6 | 4.4 | 3.9 | 3.9 | 3.7 | 3.7 | 3.7 | 3.7 |
| Brazil | 7.4 | 5.9 | 1.1 | 7.4 | 7.8 | 6.6 | 5.3 | 4.9 | 4.9 | 4.9 | 4.9 | 4.9 |
1. Foreign GDP aggregates calculated using shares of U.S. exports. Return to table
2. Foreign CPI aggregates calculated using shares of U.S. non-oil imports. Return to table
Foreign Real GDP and Consumer Prices: Selected Countries
| Measure and country | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | Projected | ||
|---|---|---|---|---|---|---|---|---|---|
| 2010 | 2011 | 2012 | |||||||
| Real GDP1 | |||||||||
| Total foreign | 3.9 | 4.0 | 4.0 | 4.2 | -.8 | .5 | 4.0 | 3.4 | 3.6 |
| Previous Tealbook | 3.9 | 4.1 | 4.0 | 4.2 | -.8 | .5 | 3.9 | 3.2 | 3.5 |
| Advanced foreign economies | 2.6 | 2.8 | 2.6 | 2.4 | -1.8 | -1.5 | 2.6 | 2.1 | 2.4 |
| Canada | 3.7 | 3.1 | 1.9 | 2.5 | -.9 | -1.1 | 2.9 | 2.8 | 2.7 |
| Japan | 1.1 | 2.9 | 2.1 | 1.8 | -4.7 | -1.8 | 3.1 | 1.7 | 2.0 |
| United Kingdom | 2.4 | 2.4 | 2.7 | 2.4 | -2.7 | -2.8 | 2.7 | 2.0 | 2.5 |
| Euro area | 1.7 | 2.1 | 3.6 | 2.2 | -2.1 | -2.0 | 2.1 | 1.2 | 2.2 |
| Germany | .2 | 1.6 | 4.5 | 1.8 | -2.0 | -2.0 | 4.2 | 1.9 | 2.5 |
| Emerging market economies | 5.6 | 5.8 | 6.0 | 6.5 | .4 | 2.9 | 5.8 | 5.0 | 5.1 |
| Asia | 6.1 | 7.8 | 7.2 | 8.4 | .7 | 7.2 | 7.6 | 6.0 | 6.0 |
| Korea | 2.7 | 5.2 | 4.6 | 5.7 | -3.2 | 6.1 | 5.2 | 4.2 | 4.5 |
| China | 10.0 | 10.5 | 11.0 | 12.6 | 7.2 | 11.5 | 8.9 | 8.6 | 8.5 |
| Latin America | 5.2 | 3.9 | 4.8 | 4.5 | -.2 | -.8 | 4.1 | 4.2 | 4.2 |
| Mexico | 4.6 | 3.6 | 4.1 | 3.7 | -.9 | -2.2 | 3.8 | 4.0 | 4.3 |
| Brazil | 6.1 | 2.2 | 4.8 | 6.6 | .7 | 4.9 | 5.6 | 4.0 | 4.0 |
| Consumer prices2 | |||||||||
| Total foreign | 2.8 | 2.3 | 2.1 | 3.7 | 3.3 | 1.2 | 2.9 | 2.7 | 2.3 |
| Previous Tealbook | 2.8 | 2.3 | 2.1 | 3.7 | 3.4 | 1.2 | 2.7 | 2.5 | 2.3 |
| Advanced foreign economies | 1.8 | 1.6 | 1.4 | 2.2 | 2.0 | .2 | 1.6 | 1.5 | 1.4 |
| Canada | 2.3 | 2.3 | 1.4 | 2.5 | 1.9 | .8 | 1.8 | 2.0 | 2.1 |
| Japan | .5 | -1.0 | .3 | .6 | .8 | -1.8 | -.2 | -.8 | -.5 |
| United Kingdom | 1.4 | 2.1 | 2.7 | 2.1 | 3.9 | 2.1 | 3.4 | 3.3 | 2.2 |
| Euro Area | 2.3 | 2.3 | 1.8 | 2.9 | 2.3 | .4 | 2.0 | 1.9 | 1.5 |
| Germany | 2.1 | 2.2 | 1.3 | 3.1 | 1.7 | .3 | 1.6 | 1.5 | 1.4 |
| Emerging market economies | 3.9 | 3.0 | 2.9 | 5.1 | 4.6 | 2.2 | 4.2 | 3.8 | 3.2 |
| Asia | 3.1 | 2.6 | 2.4 | 5.5 | 3.7 | 1.3 | 4.1 | 3.4 | 2.8 |
| Korea | 3.4 | 2.5 | 2.1 | 3.4 | 4.5 | 2.4 | 3.6 | 3.1 | 2.4 |
| China | 3.2 | 1.4 | 2.1 | 6.6 | 2.6 | .6 | 4.5 | 3.3 | 2.7 |
| Latin America | 5.6 | 3.7 | 4.1 | 4.2 | 6.6 | 4.0 | 4.6 | 4.9 | 4.1 |
| Mexico | 5.3 | 3.1 | 4.1 | 3.8 | 6.2 | 4.0 | 4.2 | 4.4 | 3.7 |
| Brazil | 7.2 | 6.1 | 3.2 | 4.3 | 6.2 | 4.2 | 5.4 | 6.2 | 4.9 |
1. Foreign GDP aggregates calculated using shares of U.S. exports. Return to table
2. Foreign CPI aggregates calculated using shares of U.S. non-oil imports. Return to table
U.S. Current Account
| Projected | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2010 | 2011 | 2012 | ||||||||||
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
| Billions of dollars, s.a.a.r. | ||||||||||||
| U.S. current account balance | -436.6 | -492.9 | -508.9 | -461.6 | -503.6 | -508.2 | -525.6 | -486.0 | -483.6 | -461.6 | -465.9 | -448.2 |
| Previous Tealbook | -436.6 | -493.1 | -514.9 | -506.3 | -544.2 | -531.2 | -531.6 | -530.2 | -535.5 | -523.0 | -535.2 | -522.7 |
| Current account as percent of GDP | -3.0 | -3.4 | -3.5 | -3.1 | -3.3 | -3.3 | -3.4 | -3.1 | -3.1 | -2.9 | -2.9 | -2.7 |
| Previous Tealbook | -3.0 | -3.4 | -3.5 | -3.4 | -3.6 | -3.5 | -3.5 | -3.4 | -3.4 | -3.3 | -3.3 | -3.2 |
| Net goods & services | -457.8 | -532.3 | -537.6 | -489.4 | -505.3 | -524.8 | -541.6 | -507.5 | -497.2 | -490.0 | -495.6 | -489.4 |
| Investment income, net | 168.8 | 180.4 | 172.6 | 148.5 | 135.3 | 134.2 | 135.1 | 136.3 | 142.1 | 142.8 | 147.8 | 155.9 |
| Direct, net | 275.9 | 286.6 | 276.0 | 265.5 | 254.9 | 259.7 | 263.9 | 271.2 | 281.5 | 290.9 | 300.0 | 313.5 |
| Portfolio, net | -107.1 | -106.2 | -103.4 | -117.0 | -119.5 | -125.5 | -128.8 | -134.9 | -139.3 | -148.0 | -152.2 | -157.6 |
| Other income and transfers, net | -147.6 | -141.0 | -143.9 | -120.7 | -133.6 | -117.5 | -119.1 | -114.7 | -128.6 | -114.5 | -118.1 | -114.7 |
| 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | Projected | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2010 | 2011 | 2012 | ||||||||||
| Billions of dollars | ||||||||||||
| U.S. current account balance | -630.5 | -747.6 | -802.6 | -718.1 | -668.9 | -378.4 | -475.0 | -505.8 | -464.8 | |||
| Previous Tealbook | -630.5 | -747.6 | -802.6 | -718.1 | -668.9 | -378.4 | -487.7 | -534.3 | -529.1 | |||
| Current account as percent of GDP | -5.3 | -5.9 | -6.0 | -5.1 | -4.7 | -2.7 | -3.2 | -3.3 | -2.9 | |||
| Previous Tealbook | -5.3 | -5.9 | -6.0 | -5.1 | -4.7 | -2.7 | -3.3 | -3.5 | -3.3 | |||
| Net goods & services | -609.3 | -714.2 | -759.2 | -702.1 | -698.8 | -374.9 | -504.3 | -519.8 | -493.0 | |||
| Investment income, net | 73.4 | 78.8 | 54.7 | 106.6 | 159.3 | 129.2 | 167.6 | 135.2 | 147.2 | |||
| Direct, net | 150.9 | 173.2 | 174.0 | 241.6 | 287.7 | 252.1 | 276.0 | 262.4 | 296.5 | |||
| Portfolio, net | -77.5 | -94.4 | -119.4 | -134.9 | -128.4 | -122.8 | -108.4 | -127.2 | -149.3 | |||
| Other income and transfers, net | -94.5 | -112.2 | -98.1 | -122.6 | -129.3 | -132.8 | -138.3 | -121.2 | -119.0 | |||
Last update: February 3, 2017