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Real GDP and Productivity Measurement: What Do Macro Data Capture? Accessible Data

Figure 1.
Year Finance and Insurance Manufacturing
Physical Value Added (PVA) Real GDP as measured by the BEA Physical Value Added (PVA) Real GDP as measured by the BEA
1998 100.00 100.00 100.00 100.00
1999 107.28 109.03 106.20 105.59
2000 116.34 119.34 115.12 113.13
2001 125.75 125.31 110.70 108.62
2002 124.77 124.48 112.14 109.58
2003 120.63 122.60 120.14 115.71
2004 119.70 123.67 130.16 123.88
2005 131.91 134.70 133.65 127.62
2006 136.01 139.40 143.14 134.97
2007 126.41 134.46 148.30 139.56
2008 105.79 117.36 146.93 136.69
2009 132.95 144.78 134.26 123.83
2010 127.79 139.54 142.06 130.88
2011 127.90 140.11 141.50 131.56
2012 140.86 152.76 139.42 130.77
2013 127.78 144.30 143.58 134.62
2014 135.54 151.80 146.30 136.79
2015 140.92 157.09 148.26 138.31
2016 144.25 159.51 147.68 137.91
2017 138.58 156.75 154.63 142.40
2018 138.20 156.65 162.43 148.39
2019 144.39 161.88 166.40 150.79
2020 148.32 166.26 160.69 143.94
2021 160.86 178.24 174.53 153.56

Source: Authors’ calculations based on BEA’s GDP-by-Industry Accounts Tables. Horizontal dash line marked at 100.

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Figure 2.
Year Finance and Insurance Manufacturing
Solow Residual Technology (Z) Solow Residual Technology (Z)
1998 100.00 100.00 100.00 100.00
1999 104.57 102.82 105.65 106.26
2000 112.10 109.19 112.73 114.72
2001 115.23 115.60 111.47 113.61
2002 113.19 113.42 117.94 120.68
2003 109.11 107.27 128.65 133.49
2004 108.44 104.86 139.08 146.03
2005 115.51 113.04 143.53 150.19
2006 116.25 113.34 151.78 160.85
2007 111.17 104.39 157.96 167.71
2008 98.87 89.10 157.14 168.76
2009 126.38 115.94 155.60 168.43
2010 123.20 112.72 167.63 181.64
2011 122.20 111.43 165.62 177.81
2012 131.05 120.75 161.68 172.03
2013 121.64 107.55 164.66 175.26
2014 125.55 111.95 164.93 176.05
2015 126.14 113.02 164.55 176.04
2016 125.28 113.17 163.55 174.79
2017 120.48 106.35 167.66 181.72
2018 118.90 104.72 172.01 187.96
2019 120.21 107.07 173.12 190.72
2020 123.21 109.77 172.08 191.70
2021 131.38 118.42 181.03 205.38

Source: Authors’ calculations based on BEA’s GDP-by-Industry Accounts Tables. Horizontal dash line marked at 100.

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Last Update: May 22, 2023