Selected Per Capita Income and Product Items in Current and Real (1996) Dollars statistics

[Based on Bureau of the Census estimated population including Armed Forces abroad; based on quarterly averages. Prior to 1960, excludes Alaska and Hawaii. For explanation of chained dollars, see Terms below table]


	Current dollars					Current dollars			Chained (1996) dollars				Chained (1996) dollars

					Personal	Personal consumption expenditures						Personal	Personal consumption expenditures			Resident
Year	Gross	Gross	Personal	Disposable	consumption				Gross	Gross	Disposable	consumption				popula-
	domestic	national	income	personal	expend-				domestic	national	personal	expend-				tion
	product	product		income	tures,	Durable	Non-	Services	product	product	income	tures,	Durable	Non-	Services	(1,000)
					total		durable					total		durable

1959	2,865	2,881	2,224	1,983	1,796	241	838	717	13,092	13,170	9,167	8,303	574	3,408	4,284	177,130
1960	2,918	2,935	2,283	2,026	1,838	240	846	753	13,148	13,232	9,210	8,358	574	3,390	4,381	180,760
1961	2,970	2,989	2,342	2,081	1,865	227	852	785	13,236	13,328	9,361	8,388	543	3,396	4,485	183,742
1962	3,143	3,166	2,454	2,174	1,950	251	873	826	13,821	13,924	9,666	8,668	597	3,449	4,634	186,590
1963	3,268	3,292	2,541	2,249	2,024	273	888	863	14,212	14,320	9,886	8,896	646	3,472	4,775	189,300
1964	3,462	3,488	2,688	2,412	2,145	295	931	919	14,831	14,946	10,456	9,300	696	3,592	4,997	191,927
1965	3,705	3,733	2,868	2,567	2,286	325	986	975	15,583	15,702	10,965	9,764	774	3,735	5,198	194,347
1966	4,015	4,041	3,085	2,742	2,451	347	1,062	1,041	16,416	16,526	11,417	10,204	830	3,895	5,398	196,599
1967	4,197	4,224	3,272	2,899	2,559	354	1,092	1,113	16,646	16,757	11,776	10,396	834	3,914	5,602	198,752
1968	4,540	4,571	3,559	3,119	2,783	402	1,174	1,207	17,266	17,384	12,196	10,881	917	4,052	5,832	200,745
1969	4,860	4,891	3,851	3,329	2,987	424	1,249	1,314	17,616	17,728	12,451	11,171	940	4,118	6,048	202,736
1970	5,069	5,101	4,101	3,591	3,164	414	1,326	1,424	17,446	17,556	12,823	11,300	899	4,169	6,220	205,089
1971	5,434	5,471	4,358	3,860	3,382	467	1,375	1,541	17,804	17,925	13,218	11,581	977	4,191	6,376	207,692
1972	5,909	5,950	4,736	4,138	3,671	526	1,467	1,678	18,570	18,701	13,692	12,149	1,089	4,329	6,656	209,924
1973	6,537	6,597	5,254	4,619	4,022	583	1,619	1,821	19,456	19,633	14,496	12,626	1,190	4,428	6,904	211,939
1974	7,017	7,091	5,730	5,013	4,359	572	1,798	1,989	19,163	19,366	14,268	12,407	1,098	4,299	6,989	213,898
1975	7,571	7,632	6,166	5,470	4,771	618	1,948	2,205	18,911	19,065	14,393	12,551	1,087	4,320	7,157	215,981
1976	8,363	8,442	6,765	5,960	5,272	728	2,102	2,442	19,771	19,953	14,873	13,155	1,214	4,487	7,423	218,086
1977	9,221	9,315	7,432	6,519	5,803	823	2,257	2,724	20,481	20,685	15,256	13,583	1,314	4,550	7,674	220,289
1978	10,313	10,412	8,302	7,253	6,425	906	2,472	3,047	21,383	21,584	15,845	14,035	1,369	4,670	7,954	222,629
1979	11,401	11,547	9,247	8,033	7,091	952	2,774	3,365	21,821	22,096	16,120	14,230	1,349	4,742	8,121	225,106
1980	12,276	12,431	10,205	8,869	7,741	940	3,057	3,744	21,521	21,791	16,063	14,021	1,229	4,680	8,161	227,726
1981	13,614	13,765	11,301	9,773	8,453	1,006	3,299	4,148	21,830	22,066	16,265	14,069	1,232	4,688	8,200	230,008
1982	14,035	14,192	11,922	10,364	8,954	1,034	3,392	4,528	21,184	21,418	16,328	14,105	1,221	4,688	8,261	232,218
1983	15,085	15,242	12,576	11,036	9,757	1,200	3,547	5,010	21,902	22,126	16,673	14,741	1,389	4,801	8,589	234,332
1984	16,636	16,786	13,853	12,215	10,569	1,383	3,742	5,444	23,288	23,494	17,799	15,401	1,579	4,948	8,873	236,394
1985	17,664	17,771	14,738	12,941	11,373	1,523	3,894	5,956	23,970	24,112	18,229	16,020	1,719	5,038	9,254	238,506
1986	18,501	18,565	15,425	13,555	12,029	1,667	3,982	6,379	24,565	24,649	18,641	16,541	1,859	5,171	9,478	240,682
1987	19,529	19,585	16,317	14,246	12,787	1,728	4,181	6,878	25,174	25,246	18,870	16,938	1,874	5,248	9,798	242,842
1988	20,845	20,920	17,433	15,312	13,697	1,837	4,419	7,441	25,987	26,080	19,522	17,463	1,965	5,367	10,109	245,061
1989	22,188	22,271	18,593	16,235	14,539	1,891	4,711	7,937	26,646	26,742	19,833	17,760	1,987	5,461	10,291	247,387
1990	23,215	23,331	19,614	17,176	15,327	1,871	4,985	8,472	26,834	26,962	20,058	17,899	1,948	5,479	10,466	249,981
1991	23,691	23,789	20,126	17,710	15,717	1,753	5,061	8,902	26,423	26,529	19,919	17,677	1,800	5,398	10,495	252,677
1992	24,741	24,833	21,105	18,616	16,482	1,843	5,180	9,459	26,938	27,039	20,318	17,989	1,875	5,441	10,688	255,403
1993	25,735	25,829	21,735	19,121	17,259	1,989	5,328	9,942	27,363	27,461	20,384	18,399	2,008	5,542	10,858	258,107
1994	27,068	27,132	22,593	19,820	18,097	2,152	5,518	10,428	28,194	28,257	20,709	18,910	2,140	5,698	11,074	260,616
1995	28,131	28,208	23,571	20,613	18,888	2,242	5,692	10,955	28,676	28,753	21,055	19,294	2,218	5,812	11,265	263,073
1996	29,428	29,496	24,660	21,385	19,727	2,322	5,929	11,476	29,428	29,496	21,385	19,727	2,322	5,929	11,476	265,504
1997	30,968	30,983	25,932	22,320	20,610	2,398	6,125	12,087	30,386	30,409	21,887	20,210	2,452	6,044	11,716	268,046
1998	32,373	32,336	27,195	23,231	21,614	2,580	6,315	12,718	31,396	31,367	22,569	20,998	2,703	6,228	12,077	270,595
1999	33,885	33,812	28,525	24,307	22,907	2,777	6,747	13,383	32,392	32,328	23,244	21,905	2,986	6,502	12,447	273,161

Source: U.S. Bureau of Economic Analysis, National Income and Product National Income and Product Accounts of the United States, 1929-97, vol. 2, forthcoming; and Survey of Current Business, May 2000.

http://www.bea.doc.gov/bea/dn1.htm

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Gross domestic product (GDP), the featured measure of U.S. output, is the market value of the goods and services produced by labor and property located in the United States. Because the labor and property are located in the United States, the suppliers (that is, the workers and, for property, the owners) may be either U.S. residents or residents of the rest of the world.

Gross national product (GNP) is the market value of the goods and services produced by labor and property supplied by U.S. residents. Because the labor and property are supplied by U.S. residents, they may be located either in the United States or abroad. The difference between GDP and GNP is net receipts of factor income from the rest of the world. These net receipts represent income from the goods and services produced abroad using the labor and property supplied by U.S. residents less payments to the rest of the world for the goods and services produced in the United States using the labor and property supplied by foreign residents. Factor incomes are measured as compensation of employees, corporate profits (dividends, earnings of unincorporated affiliates, and reinvested earnings of incorporated affiliates), and interest.

Personal income is the income received by persons from all sourcesthat is, from participation in production, from both government and business transfer payments, and from government interest (which is treated like a transfer payment). "Persons" consists of individuals, nonprofit institutions that primarily serve individuals, private noninsured welfare funds, and private trust funds. Personal income is calculated as the sum of wage and salary disbursements, other labor income, proprietors' income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal dividend income, personal interest income, and transfer payments to persons, less personal contributions for social insurance.

Disposable personal income is personal income less personal tax and nontax payments. It is the income available to persons for spending or saving.

National income and product account

GDP is measured as the sum of personal consumption expenditures, gross private domestic investment (including change in business inventories and before deduction of charges for CFC), net exports of goods and services (exports less imports), and government consumption expenditures and gross investment. GDP excludes intermediate purchases of goods and services by business.

Personal consumption expenditures is goods and services purchased by persons resident in the United States. Personal consumption expenditures (PCE) consists mainly of purchases of new goods and of services by individuals from business. In addition, PCE includes purchases of new goods and of services by nonprofit institutions (including compensation of employees), net purchases of used goods by individuals and nonprofit institutions, and purchases abroad of goods and services by U.S. residents.PCE also includes purchases for certain goods and services provided by government agenciesprimarily tuition payments for higher education, charges for medical care, and charges for water and sanitary services. Finally, PCE includes imputed purchases that keep PCE invariant to changes in the way that certain activities are carried outfor example, whether housing is rented or owned, whether financial services are explicitly charged, or whether employees are paid in cash or in kind.

Chained-dollar measures

BEA also prepares measures of real GDP and its components in a dollar-denominated form, designated "chained (1992) dollar estimates." For GDP and most other series, these estimates are computed by multiplying the 1996 current-dollar value by a corresponding quantity index number and then dividing by 100.

For analyses of changes over time in an aggregate or in a component, the percentage changes calculated from the chained-dollar estimates and from the chain-type quantity indexes are the same; any differences will be small and due to rounding. However, because the relative prices used as weights for any period other than the base period differ from those used for the base period, the chained-dollar values for the detailed GDP components do not necessarily sum to the chained-dollar estimate of GDP or to any intermediate aggregate. A measure of the extent of such differences is provided in most chained-dollar tables by a "residual" line, which indicates the difference between GDP (or an other major aggregate) and the sum of the most detailed components in the table.

For periods close to the base year, when there usually has not been much change in the relative prices that are used as the weights for the chain-type index, the residuals tend to be small, and the chained (1996) dollar estimates can be used to approximate the contributions to growth and to aggregate the detailed estimates.

As one moves further from the base year, the residual tends to become larger, and the chained-dollar estimates become less useful for analyses of contributions to growth. In general, the use of chained-dollar estimates to calculate component shares or component contributions to real growth may be misleading for periods away from the base year. In particular, for components for which relative prices are changing rapidly, these calculations may be misleading even just a few years from the base year.

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http://www.allcountries.org/uscensus/722_selected_per_capita_income_and_product.html

These tables are based on figures supplied by the United States Census Bureau, U.S. Department of Commerce and are subject to revision by the Census Bureau.

Copyright © 2006 Photius Coutsoukis and Information Technology Associates, all rights reserved.