[Economic Indicators December, 2004]
[Page Number 3]
[From the U.S. Government Publishing Office, www.gpo.gov]


NONFINANCIAL CORPORATE BUSINESS-GROSS VALUE ADDED AND PRICE, COSTS, AND 
                                PROFITS

                                                                      [Quarterly data at seasonally adjusted annual rates]
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                                                                    Gross value added        Price per unit of real gross value added of nonfinancial corporate business (dollars) \1\ \2\
                                                                     of nonfinancial  ----------------------------------------------------------------------------------------------------------
                                                                   corporate business                                           Unit nonlabor cost                     Corporate profits with
                                                                       (billions of                            ---------------------------------------------------    inventory valuation and
                                                                       dollars)\1\                Compensation                                                          capital consumption
                              Period                              --------------------            of employees                           Taxes on    Net interest         adjustments \4\
                                                                                         Total     (unit labor            Consumption   production       and      ------------------------------
                                                                    Current   Chained                 cost)       Total    of  fixed   and imports  miscellaneous             Taxes on   Profits
                                                                    dollars   (2000)                                        capital        \3\         payments      Total   corporate    after
                                                                              dollars                                                                                          income    tax \5\
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1994 r...........................................................   3,669.5   3,797.9      0.966        0.627      0.230       0.103       0.100          0.027       0.110      0.035     0.075
1995 r...........................................................   3,879.5   3,977.4       .975         .631       .230        .104        .097           .029        .114       .035      .078
1996 r...........................................................   4,109.5   4,196.4       .979         .627       .228        .104        .097           .027        .125       .036      .088
1997 r...........................................................   4,401.8   4,469.3       .985         .629       .228        .105        .095           .028        .128       .036      .092
1998 r...........................................................   4,655.0   4,725.4       .985         .645       .226        .104        .092           .030        .114       .034      .080
1999 r...........................................................   4,950.8   5,011.0       .988         .652       .229        .105        .092           .032        .107       .034      .073
2000 r...........................................................   5,272.2   5,272.2      1.000         .672       .237        .108        .093           .036        .090       .032      .058
2001 r...........................................................   5,293.5   5,224.5      1.013         .688       .257        .124        .094           .039        .068       .021      .047
2002 r...........................................................   5,377.7   5,275.9      1.019         .683       .257        .124        .099           .034        .079       .017      .062
2003 r...........................................................   5,606.8   5,423.0      1.034         .682       .258        .125        .101           .032        .095       .024      .071
 
2001:I r.........................................................   5,315.8   5,285.9      1.006         .684       .249        .117        .094           .038        .073       .024      .049
      II r.......................................................   5,321.3   5,256.7      1.012         .686       .254        .121        .094           .039        .072       .024      .048
      III r......................................................   5,279.1   5,197.6      1.016         .690       .261        .132        .089           .040        .066       .021      .044
      IV r.......................................................   5,257.7   5,158.0      1.019         .693       .263        .126        .098           .039        .063       .016      .047
 
2002:I r.........................................................   5,309.6   5,225.7      1.016         .683       .259        .124        .098           .037        .074       .014      .060
      II r.......................................................   5,375.6   5,279.7      1.018         .683       .257        .124        .098           .035        .079       .016      .062
      III r......................................................   5,392.8   5,294.6      1.019         .682       .257        .124        .099           .034        .080       .018      .062
      IV r.......................................................   5,432.9   5,303.5      1.024         .682       .257        .125        .099           .033        .085       .019      .066
 
2003:I r.........................................................   5,443.0   5,294.8      1.028         .685       .259        .126        .101           .032        .083       .023      .060
      II r.......................................................   5,547.8   5,373.1      1.033         .683       .257        .125        .100           .032        .093       .022      .071
      III r......................................................   5,669.0   5,471.9      1.036         .679       .256        .124        .101           .031        .100       .024      .076
      IV r.......................................................   5,767.5   5,552.0      1.039         .679       .255        .123        .101           .031        .104       .026      .078
 
2004:I r.........................................................   5,839.4   5,598.7      1.043         .682       .253        .120        .102           .031        .108       .026      .082
      II r.......................................................   5,955.5   5,657.4      1.053         .686       .253        .120        .102           .031        .113       .029      .084
      III r......................................................   6,036.7   5,731.7      1.053         .685       .255        .127        .097           .031        .113       .029      .084
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    \1\ Estimates for nonfinancial 
corporate business for 2000 and 
earlier periods are based on the 
Standard Industrial Classification 
(SIC); later estimates are based on 
the North American Industry 
Classification System (NAICS).
    \2\ The implicit price deflator 
for gross value added of 
nonfinancial corporate business 
divided by 100.
    \3\ Less subsidies plus business 
current transfer payments.
    \4\ Unit profits from current 
production.

    \5\ With inventory valuation and 
capital consumption adjustments.
    Note.--Data reflect historical 
revisions to chained-dollar 
estimates, and price per unit of 
real gross value added data. See 
Gross Domestic Product: Third 
Quarter 2004 (Final), Department of 
Commerce release dated December 22, 
2004, for information on the 
calculation of the chained-dollar 
estimates.
    Source: Department of Commerce, 
Bureau of Economic Analysis.