[Economic Report of the President (2003)]
[Administration of George W. Bush]
[Online through the Government Printing Office, www.gpo.gov]


 
Table B-32.--Gross saving and investment, 1959-2002
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Gross saving
----------------------------------------------------------------------------------------------------------------------------------------
Gross private saving                                          Gross government saving
-------------------------------------------------------------------------------------------------------------------------------
Gross business saving                               Federal                   State and local
Year or                               ------------------------------------------         -----------------------------------------------------------
quarter                                                        Cor-     Noncor-                                Current                       Current
Total             Per-               Undis-     porate    porate
Total    sonal            trib- uted  consump-  consump-   Total           Consumption  surplus          Consumption  surplus
saving    Total     corpo-     tion of   tion of            Total    of  fixed     or     Total    of  fixed     or
\1\       rate       fixed     fixed                      capital    deficit            capital    deficit
profits    capital   capital                                   (-)                           (-)
---------------------------------------------------------\2\--------------------------------------------------------------------------------------------
1959...........    105.8     84.2    26.5      57.7      17.5        23.7      16.5     21.6    13.6       10.4        3.2     8.0        4.2        3.8

1960...........    110.9     84.4    26.4      58.1      16.3        24.7      17.1     26.5    17.8       10.7        7.1     8.7        4.4        4.3
1961...........    113.9     91.5    31.9      59.6      16.8        25.2      17.6     22.5    13.5       11.0        2.5     9.0        4.7        4.3
1962...........    124.6    100.4    33.5      66.9      22.6        26.2      18.1     24.2    14.0       11.6        2.4    10.2        5.0        5.2
1963...........    132.8    104.3    33.1      71.2      25.2        27.2      18.7     28.5    17.5       12.3        5.2    11.0        5.4        5.7
1964...........    143.0    117.6    40.5      77.1      28.6        28.7      19.7     25.5    13.4       12.5         .8    12.1        5.7        6.4
1965...........    158.1    129.4    42.7      86.6      34.9        30.8      21.0     28.8    16.0       12.8        3.2    12.7        6.2        6.5
1966...........    169.1    138.5    44.5      94.0      37.6        33.7      22.6     30.7    16.1       13.3        2.7    14.6        6.9        7.7
1967...........    171.1    150.8    54.0      96.9      35.4        37.1      24.3     20.3     5.8       14.2       -8.3    14.5        7.5        7.0
1968...........    183.3    153.7    52.7     101.1      33.6        41.1      26.4     29.6    13.8       15.1       -1.3    15.8        8.3        7.5
1969...........    199.8    157.0    52.6     104.3      29.8        45.6      29.0     42.8    25.5       15.9        9.6    17.3        9.3        8.0

1970...........    194.3    174.3    69.5     104.8      23.0        50.5      31.4     20.0     2.3       16.7      -14.4    17.6       10.6        7.1
1971...........    211.4    202.6    80.1     122.5      32.4        55.4      34.4      8.8    -9.5       17.4      -26.8    18.2       11.8        6.4
1972...........    241.6    217.0    76.9     140.1      41.1        60.9      38.5     24.6    -3.8       18.7      -22.5    28.4       12.9       15.6
1973...........    294.6    256.4   102.5     153.9      44.8        66.8      42.3     38.2     8.3       19.5      -11.2    30.0       14.3       15.7
1974...........    304.0    270.7   114.3     156.4      29.5        78.5      48.4     33.3     6.4       20.2      -13.9    27.0       17.7        9.3
1975...........    298.4    323.5   125.2     198.3      49.1        94.0      55.2    -25.1   -47.7       21.6      -69.3    22.7       20.2        2.4
1976...........    342.7    344.0   122.1     221.9      57.3       104.5      60.0     -1.3   -29.9       23.2      -53.0    28.6       21.3        7.3
1977...........    398.2    383.1   125.6     257.5      73.1       117.5      66.9     15.1   -20.6       24.6      -45.2    35.7       22.6       13.1
1978...........    481.6    439.1   145.4     293.6      82.9       134.5      76.2     42.5     -.6       26.3      -26.9    43.1       24.4       18.7
1979...........    544.9    487.8   165.8     321.9      77.0       156.4      88.5     57.1    16.6       28.0      -11.4    40.5       27.4       13.0

1980...........    555.5    537.8   205.6     332.2      49.6       181.1     101.5     17.7   -22.8       30.9      -53.8    40.6       31.7        8.8
1981...........    656.5    631.7   243.7     387.9      64.1       210.1     113.7     24.8   -18.9       34.7      -53.7    43.8       36.3        7.5
1982...........    625.7    681.6   262.2     419.4      61.9       233.4     124.0    -55.9   -93.1       39.5     -132.6    37.2       39.5       -2.3
1983...........    608.0    693.8   227.8     466.0      93.2       244.4     128.3    -85.7  -131.5       42.4     -173.9    45.7       40.9        4.8
1984...........    769.4    824.8   306.5     518.3     124.7       260.2     133.4    -55.4  -121.6       46.4     -168.1    66.2       42.4       23.8
1985...........    772.5    833.4   282.6     550.8     128.3       280.9     141.7    -60.9  -127.9       49.3     -177.1    67.0       44.7       22.3
1986...........    735.9    806.5   267.8     538.7      88.0       302.1     148.7    -70.5  -139.2       52.9     -192.1    68.7       47.9       20.8
1987...........    810.4    838.3   252.8     585.5     107.3       320.8     157.4    -27.9   -91.6       56.3     -147.9    63.7       51.5       12.2
1988...........    936.2    943.0   292.3     650.6     138.3       344.3     168.1     -6.7   -77.2       60.2     -137.4    70.5       54.9       15.6
1989...........    967.6    955.1   301.8     653.2      99.2       370.6     183.4     12.5   -65.6       64.4     -130.0    78.1       58.8       19.3

1990...........    977.7  1,016.2   334.3     681.9     102.4       391.1     188.4    -38.6  -104.3       68.7     -173.0    65.7       63.1        2.6
1991...........  1,015.8  1,098.9   371.7     727.3     119.2       411.2     196.8    -83.2  -142.3       73.0     -215.3    59.1       66.9       -7.8
1992...........  1,007.4  1,164.6   413.7     750.9     124.4       427.9     214.3   -157.2  -222.2       75.4     -297.5    65.0       69.9       -4.9
1993...........  1,039.4  1,159.4   350.8     808.6     142.0       448.5     211.6   -120.0  -195.4       78.7     -274.1    75.4       73.9        1.5
1994...........  1,155.9  1,199.3   315.5     883.8     151.6       482.7     231.9    -43.4  -130.9       81.4     -212.3    87.5       78.9        8.6
1995...........  1,257.5  1,266.0   302.4     963.6     203.6       512.1     231.5     -8.5  -108.0       84.0     -192.0    99.4       84.1       15.3
1996...........  1,349.3  1,290.4   272.1   1,018.3     232.7       543.5     238.5     58.9   -51.5       85.3     -136.8   110.4       88.9       21.4
1997...........  1,502.3  1,343.7   252.9   1,090.8     261.3       581.5     250.9    158.6    33.4       86.8      -53.3   125.1       94.2       31.0
1998...........  1,647.2  1,375.0   301.5   1,073.5     189.9       620.2     264.2    272.2   132.0       88.2       43.8   140.2       99.5       40.7
1999 ..........  1,704.1  1,356.1   174.0   1,182.0     229.6       665.5     281.8    348.1   203.4       91.5      111.9   144.7      106.4       38.3

2000 ..........  1,807.9  1,372.1   201.5   1,170.5     152.6       721.1     296.8    435.8   302.8       95.9      206.9   133.0      115.0       18.0
2001...........  1,662.4  1,399.3   169.7   1,229.5     122.7       789.1     317.7    263.1   170.7       98.7       72.0    92.4      123.7      -31.3

1998: I........  1,610.0  1,369.0   307.9   1,061.0     198.1       605.1     258.5    241.1   107.0       87.4       19.6   134.1       97.4       36.7
II.......  1,617.2  1,366.0   309.1   1,056.9     181.4       614.2     262.0    251.2   120.7       87.8       33.0   130.5       98.4       32.0
III......  1,681.7  1,391.8   311.4   1,080.4     190.0       625.1     266.0    289.9   154.1       88.5       65.7   135.8      100.2       35.6
IV ......  1,679.8  1,373.4   277.6   1,095.8     190.1       636.2     270.2    306.4   146.1       89.1       57.0   160.3      101.9       58.4

1999: I........  1,743.0  1,412.5   253.9   1,158.6     233.1       646.4     274.0    330.5   178.6       89.9       88.7   151.9      103.5       48.4
II.......  1,692.7  1,352.2   179.9   1,172.3     232.3       657.1     277.7    340.6   203.8       90.9      112.9   136.8      105.5       31.3
III......  1,671.2  1,320.8   133.3   1,187.5     217.4       675.0     290.0    350.4   209.4       92.0      117.4   141.0      107.2       33.8
IV ......  1,709.7  1,338.8   129.0   1,209.8     235.6       683.4     285.7    370.9   221.9       93.2      128.8   149.0      109.3       39.6

2000: I........  1,815.7  1,353.7   179.4   1,174.3     185.7       698.6     290.0    462.0   317.7       94.5      223.2   144.2      111.5       32.7
II.......  1,813.6  1,386.5   207.5   1,179.0     170.4       714.1     294.6    427.1   292.8       95.5      197.2   134.3      114.1       20.2
III .....  1,828.9  1,383.7   211.5   1,172.2     144.2       728.9     299.1    445.2   309.7       96.5      213.2   135.4      116.3       19.2
IV ......  1,773.4  1,364.4   207.7   1,156.7     110.2       742.8     303.7    409.0   291.0       97.2      193.8   118.0      118.1        -.2

2001: I........  1,699.0  1,324.1   173.7   1,150.4      86.3       755.9     308.2    374.9   271.5       97.7      173.8   103.4      119.9      -16.5
II.......  1,670.6  1,338.4   141.6   1,196.8     101.9       772.3     322.6    332.2   243.0       98.6      144.4    89.2      121.5      -32.3
III......  1,665.6  1,535.6   302.2   1,233.4      79.5       835.6     318.2    130.0    47.3       99.0      -51.7    82.7      128.9      -46.2
IV.......  1,614.4  1,399.0    61.5   1,337.5     223.0       792.6     321.9    215.3   121.1       99.7       21.3    94.3      124.5      -30.2

2002: I........  1,603.2  1,578.3   270.4   1,307.9     171.0       808.3     328.6     24.9   -45.2      100.6     -145.8    70.1      125.9      -55.8
II.......  1,604.0  1,616.1   314.3   1,301.8     140.5       826.1     335.1    -12.1   -94.3      101.3     -195.6    82.2      127.3      -45.1
III......  1,573.7  1,596.4   303.0   1,293.4     118.6       836.1     338.7    -22.7   -98.4      102.2     -200.7    75.8      128.3      -52.5
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ Includes private wage accruals less disbursements not shown separately.
\2\ With inventory valuation and capital consumption adjustments.

See next page for continuation of table.


Table B-32.--Gross saving and investment, 1959-2002--Continued
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Gross investment                                      Addenda:
----------------------------------------------------             ---------------------
Gross    Personal
Statistical   saving    saving as
Year or quarter                                        Gross        Gross                                    as a    a  percent
Total     private     government    Net  foreign  discrepancy   percent      of
domestic     investment     investment                of gross  disposable
investment       \3\            \4\                    national    personal
product    income
--------------------------------------------------------------------------------------------------------------------------------------------------------
1959.............................................................     106.7       78.5          29.3           -1.2          0.8        20.7        7.6

1960.............................................................     110.4       78.9          28.3            3.2          -.6        20.9        7.2
1961.............................................................     113.8       78.2          31.3            4.3          -.2        20.7        8.3
1962.............................................................     125.3       88.1          33.3            3.9           .7        21.1        8.3
1963.............................................................     132.4       93.8          33.6            5.0          -.4        21.3        7.8
1964.............................................................     144.2      102.1          34.6            7.5          1.2        21.4        8.8
1965.............................................................     160.0      118.2          35.6            6.2          1.9        21.8        8.6
1966.............................................................     175.6      131.3          40.4            3.9          6.4        21.3        8.3
1967.............................................................     175.9      128.6          43.8            3.5          4.8        20.4        9.4
1968.............................................................     187.6      141.2          44.7            1.7          4.3        20.0        8.4
1969.............................................................     202.7      156.4          44.4            1.8          2.9        20.1        7.8

1970.............................................................     201.2      152.4          44.8            4.0          6.9        18.6        9.4
1971.............................................................     222.7      178.2          44.0             .6         11.3        18.6       10.0
1972.............................................................     250.3      207.6          46.3           -3.6          8.7        19.3        8.9
1973.............................................................     302.6      244.5          49.4            8.7          8.0        21.1       10.5
1974.............................................................     314.0      249.4          57.4            7.1         10.0        20.0       10.7
1975.............................................................     316.1      230.2          64.5           21.4         17.7        18.1       10.6
1976.............................................................     367.2      292.0          66.4            8.9         24.5        18.6        9.4
1977.............................................................     419.8      361.3          67.5           -9.0         21.6        19.4        8.7
1978.............................................................     502.6      436.0          77.1          -10.4         21.0        20.8        9.0
1979.............................................................     580.6      490.6          88.5            1.4         35.7        21.0        9.2

1980.............................................................     589.5      477.9         100.3           11.4         33.9        19.6       10.2
1981.............................................................     684.0      570.8         106.9            6.3         27.5        20.7       10.8
1982.............................................................     628.2      516.1         112.3            -.2          2.5        19.0       10.9
1983.............................................................     655.0      564.2         122.8          -32.0         47.0        17.0        8.8
1984.............................................................     787.9      735.5         139.4          -87.0         18.6        19.4       10.6
1985.............................................................     784.2      736.3         158.8         -110.9         11.7        18.2        9.2
1986.............................................................     779.8      747.2         173.2         -140.6         43.9        16.5        8.2
1987.............................................................     813.8      781.5         184.3         -152.0          3.3        17.0        7.3
1988.............................................................     894.0      821.1         186.2         -113.2        -42.2        18.3        7.8
1989.............................................................     983.9      872.9         197.7          -86.7         16.3        17.6        7.5

1990.............................................................   1,008.2      861.7         215.8          -69.2         30.6        16.8        7.8
1991.............................................................   1,035.4      800.2         220.3           14.9         19.6        16.9        8.3
1992.............................................................   1,051.1      866.6         223.1          -38.7         43.7        15.9        8.7
1993.............................................................   1,103.2      955.1         220.9          -72.9         63.8        15.6        7.1
1994.............................................................   1,214.4    1,097.1         225.6         -108.3         58.5        16.3        6.1
1995.............................................................   1,284.0    1,143.8         238.2          -98.0         26.5        16.9        5.6
1996.............................................................   1,382.1    1,242.7         250.1         -110.7         32.8        17.2        4.8
1997.............................................................   1,532.1    1,390.5         264.6         -123.1         29.7        18.0        4.2
1998.............................................................   1,616.2    1,538.7         277.1         -199.7        -31.0        18.8        4.7
1999 ............................................................   1,665.4    1,636.7         304.7         -276.0        -38.8        18.3        2.6

2000 ............................................................   1,679.4    1,755.4         319.8         -395.8       -128.5        18.4        2.8
2001.............................................................   1,545.1    1,586.0         335.8         -376.7       -117.3        16.5        2.3

1998: I..........................................................   1,638.5    1,528.7         265.3         -155.5         28.5        18.6        4.9
II.........................................................   1,580.0    1,498.4         274.1         -192.5        -37.2        18.6        4.9
III........................................................   1,600.0    1,538.6         284.1         -222.7        -81.7        19.1        4.9
IV.........................................................   1,646.2    1,589.3         284.9         -228.0        -33.6        18.7        4.3

1999: I..........................................................   1,689.7    1,618.0         292.7         -221.0        -53.3        19.1        3.9
II.........................................................   1,636.5    1,597.8         302.9         -264.2        -56.2        18.4        2.7
III........................................................   1,639.7    1,637.9         306.1         -304.2        -31.5        17.9        2.0
IV ........................................................   1,695.6    1,693.2         317.1         -314.7        -14.1        17.9        1.9

2000: I..........................................................   1,677.0    1,711.4         322.5         -356.9       -138.7        18.8        2.6
II.........................................................   1,726.8    1,786.3         317.5         -377.1        -86.8        18.4        2.9
III .......................................................   1,664.9    1,766.4         317.7         -419.1       -164.0        18.5        2.9
IV ........................................................   1,648.9    1,757.4         321.5         -430.0       -124.5        17.8        2.9

2001: I..........................................................   1,593.2    1,671.1         331.6         -409.5       -105.7        16.9        2.4
II.........................................................   1,557.7    1,597.2         343.0         -382.5       -112.9        16.6        1.9
III .......................................................   1,547.8    1,574.9         323.7         -350.8       -117.8        16.5        4.0
IV ........................................................   1,481.8    1,500.7         345.0         -363.9       -132.6        15.8         .8

2002: I..........................................................   1,493.2    1,559.4         355.5         -421.7       -110.0        15.5        3.5
II.........................................................   1,439.0    1,588.0         348.2         -497.2       -165.0        15.5        4.0
III........................................................   1,453.4    1,597.3         351.7         -495.6       -120.3        15.0       3.8
--------------------------------------------------------------------------------------------------------------------------------------------------------
\3\ For details on government investment, see Table B-20.
\4\ Net exports of goods and services plus net income receipts from rest of the world less net transfers.

Source: Department of Commerce, Bureau of Economic Analysis.