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December 2011 Tealbook A Tables and Charts


Greensheets

Changes in GDP, Prices, and Unemployment

(Percent, annual rate except as noted)
Interval Nominal GDP Real GDP PCE price index Core PCE price index Unemployment rate1
10/26/11 12/07/11 10/26/11 12/07/11 10/26/11 12/07/11 10/26/11 12/07/11 10/26/11 12/07/11
Quarterly
2011: Q1 3.1 3.1 .4 .4 3.9 3.9 1.6 1.6 8.9 8.9
Q2 4.0 4.0 1.3 1.3 3.3 3.3 2.3 2.3 9.1 9.1
Q3 5.2 4.5 2.7 1.9 2.3 2.3 2.1 2.0 9.1 9.1
Q4 3.9 4.3 2.5 3.2 1.2 .7 1.5 1.1 9.1 8.8
2012: Q1 3.5 3.8 2.4 2.1 1.4 1.4 1.6 1.6 9.0 8.8
Q2 5.0 3.5 2.5 1.9 1.4 1.5 1.6 1.5 8.9 8.8
Q3 4.0 4.1 2.6 2.5 1.3 1.3 1.5 1.5 8.8 8.7
Q4 3.9 4.4 2.7 2.9 1.3 1.3 1.4 1.4 8.6 8.6
2013: Q1 4.0 3.7 2.9 2.2 1.4 1.3 1.4 1.4 8.4 8.5
Q2 5.5 3.7 3.1 2.3 1.4 1.2 1.4 1.4 8.4 8.4
Q3 4.8 3.9 3.4 2.5 1.4 1.2 1.4 1.4 8.3 8.3
Q4 4.8 4.4 3.5 2.9 1.4 1.2 1.4 1.4 8.1 8.2
Two-quarter2
2011: Q2 3.5 3.5 .8 .8 3.6 3.6 1.9 1.9 -.5 -.5
Q4 4.6 4.4 2.6 2.6 1.8 1.5 1.8 1.6 .0 -.3
2012: Q2 4.2 3.6 2.4 2.0 1.4 1.4 1.6 1.5 -.2 .0
Q4 4.0 4.2 2.6 2.7 1.3 1.3 1.4 1.4 -.3 -.2
2013: Q2 4.7 3.7 3.0 2.2 1.4 1.2 1.4 1.4 -.2 -.2
Q4 4.8 4.2 3.4 2.7 1.4 1.2 1.4 1.4 -.3 -.2
Four-quarter3
2010:Q4 4.7 4.7 3.1 3.1 1.3 1.3 1.0 1.0 -.4 -.4
2011:Q4 4.1 4.0 1.7 1.7 2.7 2.5 1.8 1.7 -.5 -.8
2012:Q4 4.1 3.9 2.5 2.3 1.4 1.4 1.5 1.5 -.5 -.2
2013:Q4 4.8 3.9 3.2 2.5 1.4 1.2 1.4 1.4 -.5 -.4
Annual
2010 4.2 4.2 3.0 3.0 1.8 1.8 1.4 1.4 9.6 9.6
2011 4.0 3.9 1.8 1.8 2.5 2.4 1.5 1.4 9.0 9.0
2012 4.2 4.0 2.4 2.3 1.6 1.5 1.6 1.5 8.8 8.7
2013 4.5 3.9 2.9 2.4 1.4 1.3 1.4 1.4 8.3 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

(Percent, annual rate except as noted)
Item 2011 2012 2013 2011 1 2012 1 2013 1
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Real GDP .4 1.3 1.9 3.2 2.1 1.9 2.5 2.9 2.2 2.3 2.5 2.9 1.7 2.3 2.5
Previous Tealbook .4 1.3 2.7 2.5 2.4 2.5 2.6 2.7 2.9 3.1 3.4 3.5 1.7 2.5 3.2
Final sales .0 1.6 3.5 1.9 1.9 2.0 1.9 2.5 2.1 2.1 2.2 2.2 1.8 2.1 2.2
Previous Tealbook .0 1.6 3.0 2.1 1.7 2.3 2.3 2.9 2.7 2.8 2.9 2.8 1.7 2.3 2.8
Priv. dom. final purch. 2.0 1.9 3.6 2.6 1.9 2.3 2.6 3.0 2.5 2.6 2.8 3.2 2.5 2.5 2.8
Previous Tealbook 2.0 1.9 3.4 1.9 1.8 2.4 2.8 3.2 3.1 3.4 3.7 3.8 2.3 2.5 3.5
Personal cons. expend. 2.1 .7 2.1 2.4 2.3 2.2 2.4 2.8 2.1 2.1 2.3 2.7 1.8 2.4 2.3
Previous Tealbook 2.1 .7 2.2 2.0 1.9 2.2 2.5 2.8 2.9 3.0 3.2 3.3 1.7 2.4 3.1
Durables 11.7 -5.3 5.5 16.2 4.9 5.7 5.5 6.9 8.5 7.2 7.9 8.0 6.7 5.8 7.9
Nondurables 1.6 .2 -.6 2.0 3.2 1.4 1.6 1.8 .9 1.1 1.2 1.8 .8 2.0 1.2
Services .8 1.9 2.5 .4 1.6 1.9 2.2 2.4 1.5 1.7 1.7 2.2 1.4 2.0 1.8
Residential investment -2.4 4.2 1.7 3.1 3.6 6.3 6.5 6.9 7.2 7.6 8.1 8.5 1.6 5.8 7.9
Previous Tealbook -2.4 4.2 1.2 3.2 3.5 6.9 7.1 7.5 8.9 9.5 9.3 9.1 1.5 6.2 9.2
Business fixed invest. 2.1 10.3 15.8 3.7 -1.2 1.8 3.3 4.1 4.4 4.8 5.4 5.1 7.8 2.0 4.9
Previous Tealbook 2.1 10.3 12.8 1.3 .3 2.6 4.0 4.7 3.4 4.8 5.9 5.9 6.5 2.9 5.0
Equipment & software 8.7 6.2 16.2 3.0 .6 2.5 4.5 5.2 5.9 6.1 7.1 6.7 8.4 3.2 6.4
Previous Tealbook 8.7 6.2 12.3 3.8 2.0 5.1 6.7 7.3 4.8 6.4 7.9 7.6 7.7 5.3 6.7
Nonres. structures -14.3 22.6 14.7 5.8 -5.6 .0 .0 1.2 .6 1.4 1.0 .8 6.2 -1.1 .9
Previous Tealbook -14.3 22.6 14.1 -5.2 -4.2 -3.8 -3.2 -2.3 -.7 .2 .5 1.1 3.2 -3.4 .3
Net exports2 -424 -416 -401 -394 -391 -384 -388 -386 -386 -383 -378 -377 -409 -387 -381
Previous Tealbook2 -424 -416 -403 -397 -382 -369 -366 -354 -348 -342 -338 -336 -410 -368 -341
Exports 7.9 3.6 4.3 6.4 5.7 4.8 4.8 5.1 5.5 5.5 5.5 5.5 5.5 5.1 5.5
Imports 8.3 1.4 .5 4.0 4.0 2.7 4.8 3.8 4.5 4.0 3.7 4.4 3.5 3.8 4.2
Gov't. cons. & invest. -5.9 -.9 -.2 -1.9 1.1 -.5 -.4 -.4 .0 -.8 -1.3 -2.5 -2.2 -.1 -1.2
Previous Tealbook -5.9 -.9 -1.2 1.4 -.8 -.5 -.4 -.3 -.3 -.8 -1.5 -2.2 -1.7 -.5 -1.2
Federal -9.4 1.9 1.9 -3.3 4.1 -.6 -.8 -1.0 -.8 -2.9 -4.5 -7.3 -2.3 .4 -3.9
Defense -12.6 7.0 4.7 -6.4 6.8 .2 .0 -.2 .0 -3.0 -5.4 -9.5 -2.1 1.7 -4.6
Nondefense -2.7 -7.6 -3.8 3.5 -1.0 -2.1 -2.5 -2.5 -2.5 -2.6 -2.6 -2.6 -2.7 -2.1 -2.6
State & local -3.4 -2.8 -1.6 -.9 -.9 -.5 -.2 .0 .5 .7 .9 .9 -2.2 -.4 .8
Change in bus. inventories2 49 39 -5 32 37 34 53 66 68 73 82 106 29 47 82
Previous Tealbook2 49 39 34 47 67 73 80 72 81 91 105 130 42 73 102
Nonfarm2 60 51 5 35 38 34 52 65 67 72 81 105 38 47 81
Farm2 -8 -9 -11 -3 -1 0 1 1 1 1 1 1 -8 0 1

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

(Change from fourth quarter of previous year to fourth quarter of year indicated, unless otherwise noted)
Item 2005 2006 2007 2008 2009 2010 2011 2012 2013
Real GDP 2.8 2.4 2.2 -3.3 -.5 3.1 1.7 2.3 2.5
Previous Tealbook 2.8 2.4 2.2 -3.3 -.5 3.1 1.7 2.5 3.2
Final sales 2.7 2.8 2.4 -2.6 -.8 2.4 1.8 2.1 2.2
Previous Tealbook 2.7 2.8 2.4 -2.6 -.8 2.4 1.7 2.3 2.8
Priv. dom. final purch. 3.2 2.4 1.2 -4.5 -2.5 3.6 2.5 2.5 2.8
Previous Tealbook 3.2 2.4 1.2 -4.5 -2.5 3.6 2.3 2.5 3.5
Personal cons. expend. 2.8 3.2 1.7 -2.5 -.2 3.0 1.8 2.4 2.3
Previous Tealbook 2.8 3.2 1.7 -2.5 -.2 3.0 1.7 2.4 3.1
Durables 2.8 7.0 4.6 -13.0 3.0 10.9 6.7 5.8 7.9
Nondurables 3.1 2.9 .8 -3.1 .6 3.5 .8 2.0 1.2
Services 2.7 2.6 1.4 -.5 -.9 1.6 1.4 2.0 1.8
Residential investment 5.3 -15.7 -20.7 -24.4 -12.9 -6.3 1.6 5.8 7.9
Previous Tealbook 5.3 -15.7 -20.7 -24.4 -12.9 -6.3 1.5 6.2 9.2
Business fixed invest. 4.5 7.8 7.9 -9.4 -14.4 11.1 7.8 2.0 4.9
Previous Tealbook 4.5 7.8 7.9 -9.4 -14.4 11.1 6.5 2.9 5.0
Equipment & software 6.2 6.0 3.9 -13.6 -5.8 16.6 8.4 3.2 6.4
Previous Tealbook 6.2 6.0 3.9 -13.6 -5.8 16.6 7.7 5.3 6.7
Nonres. structures -.1 13.0 17.3 -1.2 -29.3 -1.8 6.2 -1.1 .9
Previous Tealbook -.1 13.0 17.3 -1.2 -29.3 -1.8 3.2 -3.4 .3
Net exports1 -723 -729 -649 -495 -359 -422 -409 -387 -381
Previous Tealbook1 -723 -729 -649 -495 -359 -422 -410 -368 -341
Exports 6.7 10.2 10.1 -2.5 -.1 8.8 5.5 5.1 5.5
Imports 5.2 4.1 .8 -5.9 -6.5 10.7 3.5 3.8 4.2
Gov't. cons. & invest. .7 1.5 1.9 2.7 1.1 .1 -2.2 -.1 -1.2
Previous Tealbook .7 1.5 1.9 2.7 1.1 .1 -1.7 -.5 -1.2
Federal 1.2 2.2 3.1 8.8 4.6 2.9 -2.3 .4 -3.9
Defense .4 4.4 2.6 9.8 3.5 1.5 -2.1 1.7 -4.6
Nondefense 2.6 -2.3 4.2 6.8 6.9 5.7 -2.7 -2.1 -2.6
State & local .4 1.2 1.2 -.9 -1.1 -1.7 -2.2 -.4 .8
Change in bus. inventories1 50 59 28 -36 -145 59 29 47 82
Previous Tealbook1 50 59 28 -36 -145 59 42 73 102
Nonfarm1 50 63 29 -38 -144 61 38 47 81
Farm1 0 -4 -1 1 -1 -1 -8 0 1

1. Billions of chained (2005) dollars.  Return to table


Contributions to Changes in Real Gross Domestic Product

(Percentage points, annual rate except as noted)
Item 2011 2012 2013 2011 1 2012 1 2013 1
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Real GDP .4 1.3 1.9 3.2 2.1 1.9 2.5 2.9 2.2 2.3 2.5 2.9 1.7 2.3 2.5
Previous Tealbook .4 1.3 2.7 2.5 2.4 2.5 2.6 2.7 2.9 3.1 3.4 3.5 1.7 2.5 3.2
Final sales .0 1.6 3.5 2.0 1.9 2.0 1.9 2.5 2.1 2.1 2.2 2.2 1.8 2.1 2.1
Previous Tealbook .0 1.6 3.0 2.1 1.7 2.3 2.3 2.9 2.7 2.8 2.9 2.8 1.7 2.3 2.8
Priv. dom. final purch. 1.6 1.6 3.0 2.2 1.6 1.9 2.2 2.5 2.1 2.2 2.3 2.7 2.1 2.1 2.3
Previous Tealbook 1.6 1.6 2.8 1.6 1.5 2.0 2.4 2.6 2.6 2.8 3.1 3.2 1.9 2.1 2.9
Personal cons. expend. 1.5 .5 1.5 1.7 1.6 1.6 1.7 2.0 1.5 1.5 1.6 1.9 1.3 1.7 1.6
Previous Tealbook 1.5 .5 1.6 1.4 1.4 1.6 1.8 2.0 2.0 2.1 2.3 2.4 1.2 1.7 2.2
Durables .9 -.4 .4 1.2 .4 .4 .4 .5 .6 .6 .6 .6 .5 .4 .6
Nondurables .3 .0 -.1 .3 .5 .2 .3 .3 .1 .2 .2 .3 .1 .3 .2
Services .4 .9 1.2 .2 .7 .9 1.0 1.1 .7 .8 .8 1.0 .6 .9 .8
Residential investment -.1 .1 .0 .1 .1 .1 .1 .2 .2 .2 .2 .2 .0 .1 .2
Previous Tealbook -.1 .1 .0 .1 .1 .2 .2 .2 .2 .2 .2 .2 .0 .1 .2
Business fixed invest. .2 1.0 1.5 .4 -.1 .2 .3 .4 .4 .5 .6 .5 .8 .2 .5
Previous Tealbook .2 1.0 1.2 .1 .0 .3 .4 .5 .3 .5 .6 .6 .6 .3 .5
Equipment & software .6 .4 1.1 .2 .0 .2 .3 .4 .4 .4 .5 .5 .6 .2 .5
Previous Tealbook .6 .4 .9 .3 .2 .4 .5 .5 .4 .5 .6 .6 .5 .4 .5
Nonres. structures -.4 .5 .4 .2 -.2 .0 .0 .0 .0 .0 .0 .0 .2 .0 .0
Previous Tealbook -.4 .5 .4 -.1 -.1 -.1 -.1 -.1 .0 .0 .0 .0 .1 -.1 .0
Net exports -.3 .2 .5 .2 .1 .2 -.1 .1 .0 .1 .1 .0 .1 .0 .0
Previous Tealbook -.3 .2 .4 .2 .4 .4 .1 .3 .2 .2 .1 .0 .1 .3 .1
Exports 1.0 .5 .6 .9 .8 .7 .7 .7 .8 .8 .8 .8 .7 .7 .8
Imports -1.4 -.2 -.1 -.7 -.7 -.5 -.8 -.6 -.8 -.7 -.6 -.8 -.6 -.7 -.7
Gov't. cons. & invest. -1.2 -.2 .0 -.4 .2 -.1 -.1 -.1 .0 -.1 -.2 -.5 -.5 .0 -.2
Previous Tealbook -1.2 -.2 -.2 .3 -.2 -.1 -.1 -.1 .0 -.1 -.3 -.4 -.3 -.1 -.2
Federal -.8 .2 .2 -.3 .3 .0 -.1 -.1 -.1 -.2 -.4 -.6 -.2 .0 -.3
Defense -.7 .4 .3 -.4 .4 .0 .0 .0 .0 -.2 -.3 -.5 -.1 .1 -.2
Nondefense -.1 -.2 -.1 .1 .0 -.1 -.1 -.1 -.1 -.1 -.1 -.1 -.1 -.1 -.1
State & local -.4 -.3 -.2 -.1 -.1 -.1 .0 .0 .1 .1 .1 .1 -.3 .0 .1
Change in bus. inventories .3 -.3 -1.5 1.2 .1 -.1 .6 .4 .1 .2 .3 .7 -.1 .3 .3
Previous Tealbook .3 -.3 -.3 .4 .6 .2 .2 -.2 .3 .3 .4 .7 .0 .2 .4
Nonfarm .4 -.3 -1.5 1.0 .1 -.1 .6 .4 .1 .2 .3 .7 -.1 .2 .3
Farm -.1 .0 .0 .3 .1 .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

(Percent, annual rate except as noted)
Item 2011 2012 2013 2011 1 2012 1 2013 1
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
GDP chain-wt. price index 2.5 2.5 2.5 1.0 1.7 1.6 1.6 1.4 1.5 1.4 1.4 1.4 2.1 1.6 1.4
Previous Tealbook 2.5 2.5 2.5 1.4 1.1 2.4 1.4 1.2 1.0 2.3 1.4 1.3 2.2 1.5 1.5
PCE chain-wt. price index 3.9 3.3 2.3 .7 1.4 1.5 1.3 1.3 1.3 1.2 1.2 1.2 2.5 1.4 1.2
Previous Tealbook 3.9 3.3 2.3 1.2 1.4 1.4 1.3 1.3 1.4 1.4 1.4 1.4 2.7 1.4 1.4
Energy 40.7 15.0 3.3 -8.2 -.9 1.3 -.4 -1.2 -1.2 -1.7 -1.7 -1.6 11.3 -.3 -1.6
Previous Tealbook 40.7 15.0 3.2 -5.6 -1.2 -.9 -.1 .7 1.4 1.0 1.0 1.3 12.1 -.4 1.2
Food 6.5 6.4 4.7 3.5 1.3 1.1 1.2 1.2 1.2 1.2 1.2 1.2 5.2 1.2 1.2
Previous Tealbook 6.5 6.4 4.7 3.8 1.3 1.1 1.2 1.2 1.2 1.2 1.2 1.2 5.3 1.2 1.2
Ex. food & energy 1.6 2.3 2.0 1.1 1.6 1.5 1.5 1.4 1.4 1.4 1.4 1.4 1.7 1.5 1.4
Previous Tealbook 1.6 2.3 2.1 1.5 1.6 1.6 1.5 1.4 1.4 1.4 1.4 1.4 1.8 1.5 1.4
Ex. food & energy, market based 1.3 2.4 2.3 1.0 1.4 1.4 1.3 1.3 1.3 1.3 1.3 1.3 1.7 1.4 1.3
Previous Tealbook 1.3 2.4 2.3 1.4 1.6 1.5 1.3 1.3 1.3 1.3 1.3 1.3 1.8 1.4 1.3
CPI 5.2 4.1 3.1 .9 1.5 1.5 1.4 1.2 1.2 1.2 1.2 1.2 3.3 1.4 1.2
Previous Tealbook 5.2 4.1 3.1 1.4 1.5 1.3 1.4 1.4 1.5 1.4 1.4 1.5 3.4 1.4 1.5
Ex. food & energy 1.7 2.5 2.7 1.7 1.8 1.6 1.5 1.5 1.5 1.5 1.5 1.5 2.2 1.6 1.5
Previous Tealbook 1.7 2.5 2.7 1.9 1.8 1.6 1.6 1.5 1.5 1.5 1.5 1.5 2.2 1.6 1.5
ECI, hourly compensation2 2.1 3.2 1.4 1.9 2.3 2.4 2.4 2.4 2.3 2.3 2.3 2.3 2.2 2.4 2.3
Previous Tealbook2 2.1 3.2 2.3 2.1 2.4 2.4 2.5 2.5 2.3 2.3 2.3 2.4 2.5 2.4 2.3
Nonfarm business sector
Output per hour -.6 -.1 2.2 2.1 .7 .9 1.5 1.9 1.0 1.1 1.2 1.6 .9 1.3 1.2
Previous Tealbook -.6 -.1 3.4 1.5 .9 1.2 1.3 1.4 1.5 1.7 1.7 1.8 1.0 1.2 1.7
Compensation per hour 5.6 -.3 -.2 2.2 2.3 2.3 2.3 2.2 2.2 2.2 2.2 2.1 1.8 2.3 2.2
Previous Tealbook 5.6 2.7 1.7 1.7 2.4 2.2 2.3 2.3 2.2 2.2 2.2 2.2 2.9 2.3 2.2
Unit labor costs 6.2 -.2 -2.4 .1 1.5 1.3 .8 .3 1.2 1.1 1.0 .5 .9 1.0 .9
Previous Tealbook 6.2 2.8 -1.6 .2 1.5 1.0 1.0 .9 .7 .5 .5 .5 1.9 1.1 .6
Core goods imports chain-wt. price index3 8.3 7.2 2.3 -.7 -.9 .4 .7 1.2 1.4 1.4 1.4 1.4 4.2 .4 1.4
Previous Tealbook3 8.3 7.2 2.6 -.3 .0 1.5 1.5 1.8 1.8 1.7 1.6 1.6 4.4 1.2 1.7

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

(Change from fourth quarter of previous year to fourth quarter of year indicated, unless otherwise noted)
Item 2005 2006 2007 2008 2009 2010 2011 2012 2013
GDP chain-wt. price index 3.5 2.9 2.6 2.1 .7 1.6 2.1 1.6 1.4
Previous Tealbook 3.5 2.9 2.6 2.1 .7 1.6 2.2 1.5 1.5
PCE chain-wt. price index 3.2 1.9 3.5 1.7 1.5 1.3 2.5 1.4 1.2
Previous Tealbook 3.2 1.9 3.5 1.7 1.5 1.3 2.7 1.4 1.4
Energy 21.5 -3.7 19.3 -8.8 2.6 6.2 11.3 -.3 -1.6
Previous Tealbook 21.5 -3.7 19.3 -8.8 2.6 6.2 12.1 -.4 1.2
Food 1.5 1.7 4.7 7.0 -1.7 1.3 5.2 1.2 1.2
Previous Tealbook 1.5 1.7 4.7 7.0 -1.7 1.3 5.3 1.2 1.2
Ex. food & energy 2.3 2.3 2.4 2.0 1.7 1.0 1.7 1.5 1.4
Previous Tealbook 2.3 2.3 2.4 2.0 1.7 1.0 1.8 1.5 1.4
Ex. food & energy, market based 2.0 2.2 2.1 2.2 1.7 .7 1.7 1.4 1.3
Previous Tealbook 2.0 2.2 2.1 2.2 1.7 .7 1.8 1.4 1.3
CPI 3.7 2.0 4.0 1.6 1.5 1.2 3.3 1.4 1.2
Previous Tealbook 3.7 2.0 4.0 1.6 1.5 1.2 3.4 1.4 1.5
Ex. food & energy 2.1 2.7 2.3 2.0 1.7 .6 2.2 1.6 1.5
Previous Tealbook 2.1 2.7 2.3 2.0 1.7 .6 2.2 1.6 1.5
ECI, hourly compensation1 2.9 3.2 3.0 2.4 1.2 2.1 2.2 2.4 2.3
Previous Tealbook1 2.9 3.2 3.0 2.4 1.2 2.1 2.5 2.4 2.3
Nonfarm business sector
Output per hour 1.6 .8 2.5 -1.1 5.3 2.5 .9 1.3 1.2
Previous Tealbook 1.6 .8 2.5 -1.1 5.3 2.5 1.0 1.2 1.7
Compensation per hour 3.5 4.5 3.6 2.5 1.8 1.6 1.8 2.3 2.2
Previous Tealbook 3.5 4.5 3.6 2.5 1.8 1.6 2.9 2.3 2.2
Unit labor costs 1.9 3.6 1.1 3.7 -3.3 -.9 .9 1.0 .9
Previous Tealbook 1.9 3.6 1.1 3.7 -3.3 -.9 1.9 1.1 .6
Core goods imports chain-wt. price index2 2.2 2.5 2.9 3.7 -1.7 2.6 4.2 .4 1.4
Previous Tealbook2 2.2 2.5 2.9 3.7 -1.7 2.6 4.4 1.2 1.7

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 2011 2012 2013 2011 1 2012 1 2013 1
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Employment and production
Nonfarm payroll employment2 .4 .5 .3 .4 .4 .4 .5 .5 .5 .5 .6 .6 1.6 1.8 2.2
Unemployment rate3 8.9 9.1 9.1 8.8 8.8 8.8 8.7 8.6 8.5 8.4 8.3 8.2 8.8 8.6 8.2
Previous Tealbook3 8.9 9.1 9.1 9.1 9.0 8.9 8.8 8.6 8.4 8.4 8.3 8.1 9.1 8.6 8.1
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 -5.8 -5.8 -5.8 -5.5 -5.4 -5.5 -5.4 -5.2 -5.1 -5.1 -5.0 -4.8 -5.5 -5.2 -4.8
Previous Tealbook4 -6.0 -6.2 -6.1 -6.0 -5.9 -5.8 -5.7 -5.6 -5.4 -5.2 -4.9 -4.7 -6.0 -5.6 -4.7
  
Industrial production5 4.8 .6 5.2 2.6 2.4 2.3 2.3 2.2 3.2 3.2 3.3 3.3 3.3 2.3 3.2
Previous Tealbook5 4.8 .5 5.1 4.5 2.4 2.8 2.7 2.5 3.5 3.6 3.5 3.5 3.7 2.6 3.5
Manufacturing industr. prod.5 7.2 .0 4.3 2.7 2.7 1.6 2.0 2.5 3.3 3.3 3.5 3.5 3.5 2.2 3.4
Previous Tealbook5 7.2 -.1 4.3 4.4 2.0 3.0 3.2 3.0 3.9 4.1 3.9 3.8 3.9 2.8 3.9
Capacity utilization rate - mfg.3 74.5 74.4 74.9 75.3 75.6 75.7 75.8 76.1 76.4 76.8 77.1 77.5 75.3 76.1 77.5
Previous Tealbook3 74.5 74.3 74.9 75.5 75.7 76.1 76.5 76.8 77.3 77.8 78.2 78.7 75.5 76.8 78.7
  
Housing starts6 .6 .6 .6 .6 .7 .7 .8 .8 .8 .9 .9 1.0 .6 .7 .9
Light motor vehicle sales6 13.0 12.1 12.5 13.4 13.4 13.4 13.4 13.5 13.9 14.1 14.3 14.4 12.7 13.4 14.2
Income and saving
Nominal GDP5 3.1 4.0 4.5 4.3 3.8 3.5 4.1 4.4 3.7 3.7 3.9 4.4 4.0 3.9 3.9
Real disposable pers. income5 1.2 -.5 -2.1 4.3 2.9 3.0 3.3 3.6 -1.3 2.4 2.7 3.2 .7 3.2 1.7
Previous Tealbook5 1.2 .6 .6 3.8 -.6 3.3 3.7 3.5 2.7 2.9 3.3 3.5 1.5 2.5 3.1
Personal saving rate3 5.0 4.8 3.8 4.3 4.4 4.6 4.8 5.0 4.1 4.2 4.3 4.4 4.3 5.0 4.4
Previous Tealbook3 5.0 5.1 4.7 5.1 4.5 4.7 5.0 5.1 5.1 5.1 5.1 5.1 5.1 5.1 5.1
  
Corporate profits7 4.2 13.7 8.4 -1.6 3.9 -5.8 -.2 -3.4 .1 -1.2 .0 -.1 6.0 -1.4 -.3
Profit share of GNP3 12.4 12.7 12.8 12.6 12.6 12.3 12.2 12.0 11.9 11.8 11.7 11.6 12.6 12.0 11.6
  
Net federal saving8 -1,201 -1,275 -1,175 -1,168 -1,106 -1,099 -1,083 -1,077 -899 -873 -846 -818 -1,205 -1,091 -859
Net state & local saving8 -57 -40 -79 -74 -62 -48 -44 -39 -37 -25 -25 -25 -63 -48 -28
  
Gross national saving rate3 12.6 12.4 12.2 12.4 12.6 12.5 12.6 12.6 12.7 12.8 13.0 13.1 12.4 12.6 13.1
Net national saving rate3 -.1 -.4 -.4 -.1 .0 .0 .1 .0 .2 .3 .5 .6 -.1 .0 .6

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

(Change from fourth quarter of previous year to fourth quarter of year indicated, unless otherwise noted)
Item 2005 2006 2007 2008 2009 2010 2011 2012 2013
Employment and production
Nonfarm payroll employment1 2.4 2.1 1.2 -2.8 -5.6 .7 1.6 1.8 2.2
Unemployment rate2 5.0 4.5 4.8 6.9 10.0 9.6 8.8 8.6 8.2
Previous Tealbook2 5.0 4.5 4.8 6.9 10.0 9.6 9.1 8.6 8.1
NAIRU2 5.0 5.0 5.0 5.3 6.0 6.0 6.0 6.0 6.0
Previous Tealbook2 5.0 5.0 5.0 5.3 6.0 6.0 6.0 6.0 6.0
GDP gap3 .0 .0 -.2 -5.4 -6.9 -5.4 -5.5 -5.2 -4.8
Previous Tealbook3 .1 .0 -.2 -5.4 -7.0 -5.6 -6.0 -5.6 -4.7
   
Industrial production4 2.3 2.3 2.5 -9.1 -5.5 6.2 3.3 2.3 3.2
Previous Tealbook4 2.3 2.3 2.5 -9.1 -5.5 6.2 3.7 2.6 3.5
Manufacturing industr. prod.4 3.4 2.0 2.8 -11.8 -6.1 6.1 3.5 2.2 3.4
Previous Tealbook4 3.4 2.0 2.8 -11.8 -6.1 6.1 3.9 2.8 3.9
Capacity utilization rate - mfg.2 78.5 78.4 79.0 70.1 67.7 73.3 75.3 76.1 77.5
Previous Tealbook2 78.5 78.4 79.0 70.1 67.7 73.3 75.5 76.8 78.7
   
Housing starts5 2.1 1.8 1.4 .9 .6 .6 .6 .7 .9
Light motor vehicle sales5 16.9 16.5 16.1 13.1 10.3 11.5 12.7 13.4 14.2
Income and saving
Nominal GDP4 6.4 5.3 4.9 -1.2 .0 4.7 4.0 3.9 3.9
Real disposable pers. income4 .6 4.6 1.6 1.0 -2.4 3.5 .7 3.2 1.7
Previous Tealbook4 .6 4.6 1.6 1.0 -2.4 3.5 1.5 2.5 3.1
Personal saving rate2 1.6 2.8 2.5 6.2 4.3 5.2 4.3 5.0 4.4
Previous Tealbook2 1.6 2.8 2.5 6.2 4.3 5.2 5.1 5.1 5.1
   
Corporate profits6 19.6 3.7 -8.1 -33.5 61.8 18.2 6.0 -1.4 -.3
Profit share of GNP2 11.8 11.6 10.1 6.8 11.0 12.4 12.6 12.0 11.6
   
Net federal saving7 -283 -204 -245 -613 -1218 -1274 -1205 -1091 -859
Net state & local saving7 26 51 12 -72 -78 -25 -63 -48 -28
   
Gross national saving rate2 15.6 16.5 13.9 12.6 11.3 12.3 12.4 12.6 13.1
Net national saving rate2 3.6 4.4 1.7 -.6 -1.9 -.4 -.1 .0 .6

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

(Billions of dollars except as noted)
Item Fiscal year 2011 2012 2013
2010a 2011a 2012 2013 Q1a Q2a Q3a Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Unified budget Not seasonally adjusted
Receipts1 2163 2302 2459 2716 488 714 568 554 520 760 625 607 569 839 701 650
Outlays1 3456 3598 3608 3620 949 855 894 902 957 895 854 934 933 892 861 938
Surplus/deficit1 -1293 -1296 -1149 -904 -460 -141 -325 -348 -437 -135 -228 -328 -364 -53 -159 -288
Previous Tealbook -1293 -1299 -1048 -845 -460 -141 -328 -350 -408 -98 -193 -298 -357 -38 -152 -282
On-budget -1370 -1363 -1123 -917 -451 -202 -310 -372 -403 -166 -182 -338 -346 -101 -132 -315
Off-budget 77 67 -25 14 -10 61 -15 24 -34 31 -46 10 -18 48 -27 27
Means of financing
Borrowing 1474 1110 1136 984 260 93 389 320 449 159 208 348 384 73 179 308
Cash decrease -35 252 8 0 225 -19 79 -2 0 -30 40 0 0 0 0 0
Other2 -146 -66 5 -80 -24 67 -143 31 -12 6 -20 -20 -20 -20 -20 -20
Cash operating balance, end of period 310 58 50 50 118 137 58 60 60 90 50 50 50 50 50 50
NIPA federal sector Seasonally adjusted annual rates
Receipts 2379 2531 2690 2943 2528 2554 2570 2597 2691 2719 2754 2786 2964 2994 3028 3061
Expenditures 3648 3765 3804 3867 3729 3829 3745 3765 3797 3818 3837 3863 3863 3868 3874 3879
Consumption expenditures 1042 1070 1098 1109 1059 1078 1085 1082 1101 1104 1106 1107 1113 1110 1103 1089
Defense 697 715 740 753 701 723 733 725 742 745 748 751 757 756 750 737
Nondefense 346 355 358 355 358 354 352 358 359 358 357 356 356 355 353 352
Other spending 2606 2695 2706 2758 2670 2752 2660 2683 2696 2714 2732 2755 2749 2758 2771 2790
Current account surplus -1269 -1234 -1114 -924 -1201 -1275 -1175 -1168 -1106 -1099 -1083 -1077 -899 -873 -846 -818
Gross investment 165 165 163 162 161 160 164 160 163 164 164 164 164 162 159 154
Gross saving less gross investment3 -1305 -1263 -1131 -931 -1227 -1298 -1199 -1186 -1125 -1116 -1098 -1090 -909 -880 -847 -812
Fiscal indicators4
High-employment (HEB) surplus/deficit -943 -929 -790 -596 -906 -962 -844 -840 -784 -774 -760 -757 -568 -543 -516 -489
Change in HEB, percent of potential GDP 1.1 -.3 -1.1 -1.3 -.7 .3 -.8 -.1 -.4 -.1 -.1 -.1 -1.2 -.2 -.2 -.2
Fiscal impetus (FI), percent of GDP 0.5 -0.3 -0.3 -1.1 -0.6 0.4 -0.1 -0.7 -0.0 -0.5 -0.4 -0.3 -1.6 -0.8 -1.0 -0.9
Previous Tealbook 0.5 -0.1 -0.9 -0.8 -0.6 0.4 -0.4 0.2 -1.4 -0.9 -0.7 -0.7 -0.8 -0.6 -0.8 -0.8

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. 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 FI estimates are calendar year contributions to Q4/Q4 real GDP growth. Also, for FI and the change in HEB, positive values indicate aggregate demand stimulus. Quarterly figures for change in HEB and FI are not at annual rates.  Return to table

a Actual.  Return to table


Change in Debt of the Domestic Nonfinancial Sectors

(Percent)
Period1 Total Households Business State and local governments Federal government Memo: Nominal GDP
Total Home mortgages Consumer credit
Year
2006 8.7 9.9 11.1 4.1 11.1 3.7 3.9 5.3
2007 8.5 6.7 6.9 5.8 13.6 5.4 4.9 4.9
2008 6.0 .1 -.5 1.5 6.2 .7 24.2 -1.2
2009 3.0 -1.7 -1.4 -4.4 -2.4 3.9 22.7 .0
     
2010 4.1 -2.1 -2.9 -1.8 .7 2.2 20.2 4.7
2011 3.7 -.9 -2.0 2.6 4.0 -1.2 11.3 4.0
2012 4.6 1.0 -.2 4.7 3.4 2.0 11.1 3.9
2013 4.2 1.6 .1 6.1 3.9 1.9 8.1 3.9
Quarter
2010: 1 3.5 -3.1 -4.8 -3.9 -.1 2.4 20.6 5.5
2 3.9 -2.2 -2.5 -3.3 -1.3 -.5 22.5 5.4
3 3.7 -2.2 -2.5 -2.2 1.8 2.1 16.0 3.9
4 4.9 -.7 -1.8 2.3 2.4 4.8 16.4 4.2
2011: 1 2.3 -1.8 -2.6 2.2 4.2 -3.3 7.9 3.1
2 3.1 -.6 -2.4 3.4 4.5 -3.5 8.6 4.0
3 4.3 -1.2 -1.8 1.2 3.5 .0 14.1 4.5
4 4.7 .0 -1.2 3.3 3.8 1.9 12.8 4.3
2012: 1 5.2 .5 -.7 3.6 3.1 2.2 14.3 3.8
2 4.3 .9 -.3 4.4 3.3 2.0 10.1 3.5
3 3.3 1.3 .0 4.8 3.4 1.9 5.9 4.1
4 5.3 1.5 .1 5.5 3.5 1.9 12.5 4.4
2013: 1 4.9 1.6 .1 5.9 3.7 1.9 10.7 3.7
2 3.6 1.6 .1 6.0 3.8 1.9 6.3 3.7
3 3.2 1.6 .1 6.1 3.9 1.9 4.5 3.9
4 4.9 1.7 .1 6.1 3.9 1.9 10.2 4.4

Note: Quarterly data are at seasonally adjusted annual rates.

1. Data after 2011: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

(Billions of dollars at seasonally adjusted annual rates except as noted)
Category 2010 2011 2012 2013 2011 2012 2013
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Domestic nonfinancial sectors
Net funds raised
Total 1167.1 882.8 1352.6 1343.2 1029.5 1332.3 1608.2 1282.2 864.3 1655.5 1627.2 1157.9 935.2 1652.3
Net equity issuance -278.0 -472.4 -400.0 -340.0 -593.4 -460.0 -380.0 -380.0 -420.0 -420.0 -320.0 -320.0 -360.0 -360.0
Net debt issuance 1445.1 1355.2 1752.6 1683.2 1622.9 1792.3 1988.2 1662.2 1284.3 2075.5 1947.2 1477.9 1295.2 2012.3
Borrowing indicators
Debt (percent of GDP)1 249.1 249.1 249.4 250.5 248.0 248.2 248.9 249.7 249.6 249.5 250.4 250.8 250.5 250.3
Borrowing (percent of GDP) 9.9 9.0 11.2 10.3 10.7 11.7 12.8 10.6 8.1 13.0 12.1 9.1 7.9 12.1
Households
Net borrowing2 -278.4 -121.0 136.6 217.1 -158.8 3.7 62.2 123.4 165.7 195.1 208.7 214.8 220.7 224.0
Home mortgages -298.2 -200.9 -22.2 9.8 -181.4 -118.7 -69.0 -29.5 0.0 9.8 9.8 9.8 9.8 9.8
Consumer credit -44.2 62.1 116.6 160.7 29.5 82.4 90.6 111.6 123.0 141.3 153.8 158.7 163.8 166.3
Debt/DPI (percent)3 120.3 114.6 110.3 108.3 114.4 112.8 111.7 110.7 109.7 108.8 109.2 108.7 108.0 107.3
Business
Financing gap4 -197.1 -210.3 -105.5 72.7 -278.0 -209.0 -173.0 -134.3 -85.0 -29.7 22.4 49.1 82.2 137.2
Net equity issuance -278.0 -472.4 -400.0 -340.0 -593.4 -460.0 -380.0 -380.0 -420.0 -420.0 -320.0 -320.0 -360.0 -360.0
Credit market borrowing 77.0 451.2 391.6 464.1 398.0 433.7 364.6 385.4 401.4 415.0 443.0 459.1 473.6 480.8
State and local governments
Net borrowing 66.2 -36.9 61.0 58.0 1.0 58.0 66.0 62.0 58.0 58.0 58.0 58.0 58.0 58.0
Current surplus5 257.0 201.5 200.2 228.0 163.6 169.9 183.6 199.2 205.6 212.4 216.1 230.0 231.7 234.1
Federal government
Net borrowing 1580.2 1061.9 1163.4 944.0 1382.6 1296.9 1495.5 1091.4 659.3 1407.5 1237.6 746.0 543.0 1249.6
Net borrowing (n.s.a.) 1580.2 1061.9 1163.4 944.0 389.1 319.9 448.7 159.0 208.2 347.5 384.2 72.6 179.1 308.1
Unified deficit (n.s.a.) 1275.1 1278.1 1127.9 864.0 328.1 348.4 436.8 135.2 228.4 327.5 364.2 52.6 159.1 288.1
Depository institutions
Funds supplied -181.1 182.8 352.8 374.7 785.2 248.5 398.2 323.9 342.5 346.5 352.2 358.2 392.9 395.4

Note: Data after 2011: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

(Quarterly percent changes at an annual rate)
Measure and country Projected
2011 2012 2013
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Real GDP1
Total foreign 3.9 2.4 3.6 2.3 2.5 2.4 2.6 2.7 2.9 3.0 3.0 3.1
Previous Tealbook 4.0 2.3 3.6 2.8 2.8 2.9 3.0 3.1 3.3 3.4 3.4 3.4
Advanced foreign economies 2.2 .1 2.7 1.0 .7 .6 .9 1.2 1.4 1.5 1.6 1.8
Canada 3.5 -.5 3.5 2.1 2.1 1.8 2.0 2.2 2.1 2.0 2.0 2.1
Japan -2.7 -1.3 6.0 1.9 2.3 1.8 1.7 1.6 1.5 1.4 1.3 1.3
United Kingdom 1.6 .4 2.0 .5 .4 .7 1.0 1.2 1.5 1.7 1.9 2.1
Euro area 3.1 .7 .6 -1.0 -2.0 -1.8 -1.2 -.5 .1 .4 .6 1.0
Germany 5.5 1.1 2.0 .0 -1.2 -1.0 -.4 .1 .7 1.1 1.2 1.7
Emerging market economies 5.7 5.0 4.7 3.7 4.4 4.3 4.4 4.4 4.5 4.5 4.6 4.6
Asia 7.9 5.3 4.9 4.3 5.7 5.5 5.5 5.5 5.6 5.7 5.8 5.8
Korea 5.4 3.6 3.3 3.9 3.5 3.5 3.5 3.5 3.6 3.8 4.0 4.2
China 8.2 10.0 9.5 8.2 8.0 7.9 7.9 7.9 8.0 8.1 8.1 8.1
Latin America 3.5 4.9 4.5 3.0 3.2 3.0 3.2 3.2 3.2 3.2 3.2 3.3
Mexico 2.3 5.2 5.5 3.0 3.1 2.8 3.1 3.1 3.1 3.1 3.1 3.1
Brazil 3.2 2.9 -.2 2.3 3.0 3.1 3.1 3.1 3.5 3.6 3.6 3.8
Consumer prices2
Total foreign 4.3 3.2 3.1 3.5 2.6 2.3 2.2 2.2 2.2 2.2 2.3 2.3
Previous Tealbook 4.3 3.2 3.1 2.7 2.5 2.2 2.3 2.3 2.3 2.4 2.5 2.5
Advanced foreign economies 3.2 2.1 1.1 2.9 1.4 1.1 1.1 1.2 1.0 1.0 1.0 1.2
Canada 3.6 3.1 1.1 3.8 2.3 1.9 1.7 1.6 1.6 1.6 1.7 1.7
Japan .4 -.8 -.3 -.6 -.5 -.4 -.4 -.3 -.3 -.3 -.3 -.3
United Kingdom 7.2 3.8 3.5 4.3 1.7 1.3 1.3 2.6 1.5 1.3 1.5 2.8
Euro Area 3.6 2.7 1.4 4.1 1.5 1.3 1.2 1.2 1.1 1.0 1.0 1.1
Germany 3.5 2.2 1.7 4.3 2.0 2.0 1.8 1.7 1.5 1.4 1.5 1.6
Emerging market economies 5.1 4.1 4.6 3.9 3.6 3.2 3.1 3.1 3.2 3.2 3.2 3.2
Asia 5.3 4.8 5.3 3.5 3.3 2.9 2.9 2.9 3.0 3.0 3.0 3.0
Korea 6.0 2.8 4.8 3.2 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0
China 4.6 5.8 6.2 3.5 3.2 2.7 2.7 2.7 2.8 2.9 2.9 2.9
Latin America 4.3 2.5 3.6 4.8 4.4 3.9 3.7 3.7 3.7 3.7 3.7 3.7
Mexico 3.6 1.8 3.3 4.6 4.2 3.6 3.4 3.4 3.4 3.4 3.4 3.4
Brazil 9.5 7.5 5.6 6.2 5.7 5.3 4.9 4.9 5.3 5.1 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

(Percent change, Q4 to Q4)
Measure and country 2005 2006 2007 2008 2009 2010 Projected
2011 2012 2013
Real GDP1
Total foreign 4.1 4.1 4.4 -.9 .8 4.3 3.1 2.5 3.0
Previous Tealbook 4.1 4.2 4.4 -.9 .8 4.3 3.2 3.0 3.4
Advanced foreign economies 2.8 2.6 2.6 -1.9 -1.4 2.7 1.5 .8 1.6
Canada 3.1 1.9 2.5 -.7 -1.4 3.3 2.1 2.1 2.1
Japan 2.9 2.1 1.7 -4.7 -1.9 2.5 .9 1.9 1.4
United Kingdom 2.8 2.1 4.1 -5.4 -.8 1.3 1.1 .8 1.8
Euro area 2.1 3.8 2.4 -2.1 -2.1 1.9 .8 -1.4 .6
Germany 1.6 4.9 2.4 -1.9 -2.2 3.8 2.1 -.6 1.2
Emerging market economies 5.8 6.3 6.7 .4 3.5 6.1 4.8 4.4 4.6
Asia 7.6 7.8 8.8 .9 8.0 7.6 5.6 5.5 5.7
Korea 5.2 4.6 5.8 -3.2 6.3 4.7 4.0 3.5 3.9
China 10.3 12.8 13.7 7.7 11.4 9.6 9.0 7.9 8.1
Latin America 3.9 4.8 4.4 -.4 -.9 4.5 4.0 3.1 3.2
Mexico 3.6 4.1 3.5 -1.2 -2.3 4.2 4.0 3.0 3.1
Brazil 2.2 4.8 6.6 .9 5.3 5.4 2.0 3.1 3.6
Consumer prices2
Total foreign 2.3 2.2 3.7 3.3 1.3 3.2 3.5 2.3 2.3
Previous Tealbook 2.3 2.2 3.7 3.3 1.3 3.2 3.3 2.3 2.4
Advanced foreign economies 1.6 1.4 2.2 2.0 .2 1.7 2.3 1.2 1.1
Canada 2.3 1.4 2.5 1.8 .8 2.2 2.9 1.9 1.6
Japan -.7 .3 .5 1.0 -2.0 -.3 -.3 -.4 -.3
United Kingdom 2.1 2.7 2.1 3.9 2.2 3.4 4.7 1.7 1.8
Euro Area 2.3 1.8 2.9 2.3 .4 2.0 3.0 1.3 1.0
Germany 2.2 1.3 3.1 1.7 .3 1.6 2.9 1.9 1.5
Emerging market economies 3.0 2.9 5.1 4.6 2.1 4.3 4.4 3.2 3.2
Asia 2.5 2.4 5.5 3.6 1.3 4.3 4.7 3.0 3.0
Korea 2.5 2.1 3.4 4.5 2.4 3.2 4.2 3.0 3.0
China 1.4 2.1 6.7 2.5 .6 4.7 5.0 2.8 2.9
Latin America 3.8 4.2 4.2 6.7 3.9 4.4 3.8 3.9 3.7
Mexico 3.1 4.1 3.8 6.2 4.0 4.3 3.3 3.7 3.4
Brazil 6.1 3.2 4.3 6.2 4.2 5.4 7.2 5.2 5.1

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

Quarterly Data
Projected
2011 2012 2013
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Billions of dollars, s.a.a.r.
U.S. current account balance -478.4 -472.0 -390.7 -402.7 -439.8 -396.8 -416.6 -440.7 -477.6 -448.4 -463.9 -485.2
Previous Tealbook -478.4 -472.0 -426.8 -416.4 -422.7 -376.4 -381.9 -390.2 -416.1 -386.0 -397.7 -416.4
Current account as percent of GDP -3.2 -3.1 -2.6 -2.6 -2.8 -2.5 -2.6 -2.8 -3.0 -2.8 -2.8 -2.9
Previous Tealbook -3.2 -3.1 -2.8 -2.7 -2.7 -2.4 -2.4 -2.4 -2.6 -2.4 -2.4 -2.5
Net goods & services -559.9 -580.0 -534.6 -545.0 -577.7 -523.9 -527.0 -532.6 -554.0 -508.9 -501.9 -508.2
Investment income, net 219.5 253.5 279.5 279.6 273.7 258.9 245.6 229.3 212.2 192.4 173.3 160.3
Direct, net 315.9 339.3 352.7 333.4 316.2 302.9 291.8 280.9 271.4 259.6 249.1 244.8
Portfolio, net -96.4 -85.8 -73.2 -53.8 -42.5 -43.9 -46.2 -51.6 -59.2 -67.2 -75.8 -84.5
Other income and transfers, net -138.0 -145.5 -135.6 -137.3 -135.8 -131.9 -135.2 -137.3 -135.8 -131.9 -135.2 -137.3
Annual Data
2005 2006 2007 2008 2009 2010 Projected
2011 2012 2013
Billions of dollars
U.S. current account balance -745.8 -800.6 -710.3 -677.1 -376.6 -470.9 -435.9 -423.5 -468.8
Previous Tealbook -745.8 -800.6 -710.3 -677.1 -376.6 -470.9 -448.4 -392.8 -404.1
Current account as percent of GDP -5.9 -6.0 -5.1 -4.7 -2.7 -3.2 -2.9 -2.7 -2.9
Previous Tealbook -5.9 -6.0 -5.1 -4.7 -2.7 -3.2 -3.0 -2.5 -2.5
Net goods & services -708.6 -753.3 -696.7 -698.3 -381.3 -500.0 -554.9 -540.3 -518.2
Investment income, net 78.7 54.7 111.1 157.8 137.1 174.5 258.0 251.9 184.5
Direct, net 173.2 174.0 244.6 284.3 262.2 280.6 335.3 297.9 256.2
Portfolio, net -94.5 -119.4 -133.5 -126.5 -125.1 -106.2 -77.3 -46.1 -71.7
Other income and transfers, net -115.9 -102.0 -124.7 -136.6 -132.3 -145.3 -139.1 -135.1 -135.1

Last update: February 3, 2017