[Economic Report of the President (2005)]
[Administration of George W. Bush]
[Online through the Government Printing Office, www.gpo.gov]


 
Table B-32.--Gross saving and investment, 1959-2004
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross saving
------------------------------------------------------------------------------------------------------------------------------------
Net saving                                          Consumption of fixed  capital
-------------------------------------------------------------------------------------------------------------------------
Year or quarter                          Total                             Net private saving                     Net government saving
gross      Total  --------------------------------------------------------------------------------
saving      net                        Undistributed  Wage accruals                        State     Total    Private  Government
saving    Total    Personal    corporate         less        Total    Federal     and
saving    profits \1\   disbursements                        local
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1959.......................................................      106.2      53.2     46.0       26.7         19.4            0.0         7.1       3.3       3.8      53.0      38.6       14.5

1960.......................................................      111.3      55.8     44.3       26.7         17.6             .0        11.5       7.2       4.3      55.6      40.5       15.0
1961.......................................................      114.3      57.1     50.2       32.2         18.1             .0         6.9       2.6       4.3      57.2      41.6       15.6
1962.......................................................      124.9      65.7     57.9       33.8         24.1             .0         7.8       2.5       5.2      59.3      42.8       16.5
1963.......................................................      133.2      70.8     59.7       33.3         26.4             .0        11.1       5.4       5.7      62.4      44.9       17.5
1964.......................................................      143.4      78.4     71.0       40.8         30.1             .0         7.4       1.0       6.4      65.0      46.9       18.1
1965.......................................................      158.5      89.1     79.2       43.0         36.2             .0         9.9       3.3       6.5      69.4      50.5       18.9
1966.......................................................      168.7      93.1     83.1       44.4         38.7             .0        10.0       2.3       7.8      75.6      55.5       20.1
1967.......................................................      170.5      89.0     91.4       54.4         36.9             .0        -2.4      -9.4       7.0      81.5      59.9       21.6
1968.......................................................      182.0      93.6     88.4       52.8         35.6             .0         5.2      -2.3       7.5      88.4      65.2       23.1
1969.......................................................      198.3     100.4     83.7       52.5         31.2             .0        16.7       8.7       8.0      97.9      73.1       24.8

1970.......................................................      192.7      86.0     94.0       69.5         24.6             .0        -8.1     -15.2       7.1     106.7      80.0       26.7
1971.......................................................      208.9      93.9    115.8       80.6         34.8             .4       -21.9     -28.4       6.5     115.0      86.7       28.3
1972.......................................................      237.5     111.0    119.8       77.2         42.9            -.3        -8.8     -24.4      15.6     126.5      97.1       29.5
1973.......................................................      292.0     152.7    148.3      102.7         45.6             .0         4.4     -11.3      15.7     139.3     107.9       31.4
1974.......................................................      301.5     139.0    143.4      113.6         29.8             .0        -4.4     -13.8       9.3     162.5     126.6       35.9
1975.......................................................      297.0     109.2    175.8      125.6         50.2             .0       -66.6     -69.0       2.5     187.7     147.8       40.0
1976.......................................................      342.1     137.0    181.3      122.3         59.0             .0       -44.4     -51.7       7.4     205.2     162.5       42.6
1977.......................................................      397.5     167.5    198.5      125.3         73.2             .0       -31.0     -44.1      13.1     230.0     184.3       45.7
1978.......................................................      478.0     215.7    223.5      142.5         81.0             .0        -7.8     -26.5      18.7     262.3     212.8       49.5
1979.......................................................      536.7     236.6    234.9      159.1         75.7             .0         1.7     -11.3      13.0     300.1     245.7       54.5

1980.......................................................      549.4     206.5    251.3      201.4         49.9             .0       -44.8     -53.6       8.8     343.0     281.1       61.8
1981.......................................................      654.7     266.6    312.3      244.3         68.0             .0       -45.7     -53.3       7.6     388.1     317.9       70.1
1982.......................................................      629.1     202.2    336.2      270.8         65.4             .0      -134.1    -131.9      -2.2     426.9     349.8       77.1
1983.......................................................      609.4     165.6    333.7      233.6        100.1             .0      -168.1    -173.0       4.9     443.8     362.1       81.7
1984.......................................................      773.4     300.9    445.0      314.8        130.3             .0      -144.1    -168.1      23.9     472.6     385.6       87.0
1985.......................................................      767.5     260.7    413.4      280.0        133.4             .0      -152.6    -175.0      22.3     506.7     414.0       92.7
1986.......................................................      733.5     202.2    372.0      268.4        103.7             .0      -169.9    -190.8      21.0     531.3     431.8       99.5
1987.......................................................      796.8     234.9    367.4      241.4        126.1             .0      -132.6    -145.0      12.4     561.9     455.3      106.7
1988.......................................................      915.0     317.4    434.0      272.9        161.1             .0      -116.6    -134.5      17.9     597.6     483.5      114.1
1989.......................................................      944.7     300.4    409.7      287.1        122.6             .0      -109.3    -130.1      20.8     644.3     522.1      122.2

1990.......................................................      940.4     258.0    422.7      299.4        123.3             .0      -164.8    -172.0       7.2     682.5     551.6      130.9
1991.......................................................      964.1     238.2    456.1      324.2        131.9             .0      -217.9    -213.7      -4.2     725.9     586.9      139.1
1992.......................................................      948.2     196.3    493.0      366.0        142.7          -15.8      -296.7    -297.4        .7     751.9     607.3      144.6
1993.......................................................      962.4     186.0    458.6      284.0        168.1            6.4      -272.6    -273.5        .9     776.4     624.7      151.8
1994.......................................................    1,070.7     237.1    438.9      249.5        171.8           17.6      -201.9    -212.3      10.5     833.7     675.1      158.6
1995.......................................................    1,184.5     306.2    491.1      250.9        223.8           16.4      -184.9    -197.0      12.0     878.4     713.4      165.0
1996.......................................................    1,291.1     373.0    489.0      228.4        256.9            3.6      -116.0    -141.8      25.8     918.1     748.8      169.3
1997.......................................................    1,461.1     486.6    503.3      218.3        287.9           -2.9       -16.7     -55.8      39.1     974.4     800.3      174.1
1998.......................................................    1,598.7     568.6    477.8      276.8        201.7            -.7        90.8      38.8      52.0   1,030.2     851.2      179.0
1999 ......................................................    1,674.3     573.0    419.0      158.6        255.3            5.2       154.0     103.6      50.4   1,101.3     914.3      187.0

2000 ......................................................    1,770.5     582.7    343.3      168.5        174.8             .0       239.4     189.5      50.0   1,187.8     990.8      197.0
2001.......................................................    1,657.6     376.1    324.6      132.3        192.3             .0        51.5      46.7       4.8   1,281.5   1,075.5      206.0
2002.......................................................    1,484.3     180.3    459.8      159.2        300.7             .0      -279.5    -254.5     -25.0   1,303.9   1,092.8      211.2
2003.......................................................    1,487.7     133.8    501.5      110.6        390.9             .0      -367.8    -364.5      -3.2   1,353.9   1,135.9      218.1
2004 p.....................................................  .........  ........  .......       90.0  .............           .0    ........  ........  ........   1,406.9   1,177.9      229.0

2000: I....................................................    1,784.5     631.4    362.8      171.2        191.6             .0       268.7     212.7      55.9   1,153.1     959.6      193.4
II...................................................    1,772.4     595.4    354.5      171.3        183.2             .0       240.9     181.4      59.5   1,177.0     981.0      196.0
III .................................................    1,795.1     595.2    355.0      190.1        164.9             .0       240.2     191.2      49.0   1,199.9   1,001.6      198.3
IV ..................................................    1,730.0     508.7    300.8      141.2        159.6             .0       207.9     172.5      35.4   1,221.3   1,021.1      200.2

2001: I....................................................    1,745.3     504.8    315.7      138.6        177.0             .0       189.2     156.6      32.5   1,240.5   1,038.4      202.0
II...................................................    1,704.0     433.2    283.8       88.7        195.1             .0       149.4     123.6      25.8   1,270.8   1,067.0      203.8
III .................................................    1,647.9     315.2    412.4      261.6        150.9             .0       -97.2     -88.6      -8.6   1,332.7   1,121.3      211.4
IV ..................................................    1,533.1     251.2    286.5       40.5        246.1             .0       -35.3      -4.7     -30.6   1,281.8   1,075.2      206.6

2002: I..................................    1,549.7     262.6    499.9      209.3        290.6             .0      -237.3    -208.5     -28.8   1,287.1   1,078.5      208.6
II ..................................................    1,528.5     230.6    505.8      210.0        295.8             .0      -275.2    -251.6     -23.6   1,297.9   1,087.7      210.3
III .................................................    1,451.5     142.2    418.7      126.1        292.6             .0      -276.5    -255.1     -21.3   1,309.3   1,097.4      211.9
IV ..................................................    1,407.4      85.9    414.9       91.2        323.7             .0      -329.0    -302.7     -26.3   1,321.5   1,107.6      213.8

2003: I..................................    1,375.0      41.0    371.6       79.5        292.0             .0      -330.6    -281.6     -49.0   1,334.0   1,118.4      215.6
II ..................................................    1,436.0      89.0    459.1       92.1        367.0             .0      -370.1    -364.4      -5.7   1,347.0   1,129.7      217.3
III .................................................    1,518.1     157.5    584.0      159.8        424.2             .0      -426.5    -433.0       6.5   1,360.6   1,141.5      219.1
IV ..................................................    1,621.7     247.6    591.5      111.1        480.4             .0      -343.9    -379.2      35.3   1,374.2   1,153.8      220.4

2004: I....................................................    1,568.3     213.3    592.4       86.8        505.7             .0      -379.2    -391.0      11.8   1,355.0   1,132.4      222.6
II...................................................    1,616.3     241.2    602.9      113.4        489.5             .0      -361.7    -380.0      18.3   1,375.2   1,148.1      227.0
III .................................................    1,601.5     103.6    483.2       42.6        440.7             .0      -379.6    -384.1       4.5   1,497.9   1,266.8      231.1
IV p.................................................  .........  ........  .......      117.2  .............           .0    ........  ........  ........   1,399.5   1,164.0      235.5
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ With inventory valuation and capital consumption adjustments.

See next page for continuation of table.


Table B-32.--Gross saving and investment, 1959-2004--Continued
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross domestic investment, capital account transactions, and                                               Addenda:
net lending, NIPA                                     -----------------------------------------------------------------------
-----------------------------------------------------------------                           Gross government saving
Gross domestic investment                                                  ------------------------------               Gross      Net
------------------------------                  Net                                                                       saving    saving
Year or quarter                                     Gross                Capital     lending   Statistical    Gross                                 Net  domes-   as a      as a
private    Gross      account      or net   discrepancy   private                         State      tic      percent   percent
Total              domes-    govern-  transactions  borrowing                saving      Total   Federal     and    investment  of gross  of gross
Total       tic      ment      (net) \3\   (-), NIPA                                             local                 national  national
invest-   invest-                   \4\                                                                       income    income
ment    ment \2\
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1959......................................     106.7     107.8      78.5      29.3  ............       -1.2        0.5        84.6      21.6      13.6       8.0       54.8      20.9      10.4

1960......................................     110.4     107.2      78.9      28.3  ............        3.2        -.9        84.8      26.5      17.8       8.7       51.6      21.0      10.5
1961......................................     113.8     109.5      78.2      31.3  ............        4.3        -.6        91.8      22.5      13.5       9.0       52.3      20.8      10.4
1962......................................     125.3     121.4      88.1      33.3  ............        3.9         .4       100.7      24.3      14.0      10.3       62.2      21.2      11.1
1963......................................     132.4     127.4      93.8      33.6  ............        5.0        -.8       104.6      28.6      17.5      11.1       65.0      21.4      11.4
1964......................................     144.2     136.7     102.1      34.6  ............        7.5         .8       117.9      25.5      13.4      12.1       71.7      21.5      11.7
1965......................................     160.0     153.8     118.2      35.6  ............        6.2        1.6       129.7      28.8      16.0      12.8       84.4      21.9      12.3
1966......................................     175.0     171.1     131.3      39.8  ............        3.9        6.3       138.6      30.1      15.5      14.6       95.5      21.4      11.8
1967......................................     175.1     171.6     128.6      43.0  ............        3.6        4.6       151.3      19.2       4.7      14.5       90.1      20.5      10.7
1968......................................     186.6     184.8     141.2      43.6  ............        1.7        4.6       153.7      28.3      12.5      15.8       96.5      20.0      10.3
1969......................................     201.5     199.7     156.4      43.3  ............        1.8        3.2       156.8      41.5      24.2      17.3      101.8      20.1      10.2

1970......................................     200.0     196.0     152.4      43.6  ............        4.0        7.3       174.1      18.6        .9      17.7       89.3      18.6       8.3
1971......................................     220.5     219.9     178.2      41.8  ............         .6       11.6       202.5       6.4     -11.9      18.3      104.9      18.6       8.4
1972......................................     246.6     250.2     207.6      42.6  ............       -3.6        9.1       216.8      20.7      -7.7      28.5      123.7      19.2       9.0
1973......................................     300.7     291.3     244.5      46.8  ............        9.3        8.6       256.3      35.8       5.8      30.0      152.1      21.1      11.0
1974......................................     312.3     305.7     249.4      56.3  ............        6.6       10.9       270.0      31.5       4.5      27.0      143.2      20.0       9.2
1975......................................     314.7     293.3     230.2      63.1  ............       21.4       17.7       323.6     -26.6     -49.3      22.7      105.6      18.2       6.7
1976......................................     367.2     358.4     292.0      66.4  ............        8.9       25.1       343.8      -1.7     -30.3      28.6      153.2      18.8       7.5
1977......................................     419.8     428.8     361.3      67.5  ............       -9.0       22.3       382.8      14.7     -21.0      35.7      198.8      19.6       8.3
1978......................................     504.6     515.0     438.0      77.1  ............      -10.4       26.6       436.3      41.7      -1.5      43.2      252.7      20.9       9.4
1979......................................     582.8     581.4     492.9      88.5  ............        1.4       46.0       480.5      56.2      15.7      40.5      281.2      21.1       9.3

1980......................................     590.9     579.5     479.3     100.3  ............       11.4       41.4       532.4      17.0     -23.6      40.6      236.6      19.7       7.4
1981......................................     685.6     679.3     572.4     106.9  ............        6.3       30.9       630.3      24.4     -19.4      43.9      291.2      20.9       8.5
1982......................................     629.4     629.5     517.2     112.3       -0.2            .0         .3       686.0     -56.9     -94.2      37.3      202.6      19.1       6.1
1983......................................     655.1     687.2     564.3     122.9        -.2         -31.8       45.7       695.8     -86.5    -132.3      45.8      243.4      17.3       4.7
1984......................................     788.0     875.0     735.6     139.4        -.2         -86.7       14.6       830.6     -57.2    -123.5      66.3      402.4      19.6       7.6
1985......................................     784.1     895.0     736.2     158.8        -.3        -110.5       16.7       827.3     -59.9    -126.9      67.0      388.3      18.1       6.2
1986......................................     780.5     919.7     746.5     173.2        -.3        -138.9       47.0       803.9     -70.4    -139.2      68.8      388.4      16.5       4.6
1987......................................     818.5     969.2     785.0     184.3        -.4        -150.4       21.7       822.7     -25.9     -89.8      63.9      407.3      16.8       5.0
1988......................................     895.5   1,007.7     821.6     186.1        -.5        -111.7      -19.5       917.5      -2.5     -75.2      72.7      410.1      17.8       6.2
1989......................................     984.3   1,072.6     874.9     197.7        -.3         -88.0       39.7       931.8      12.9     -66.7      79.6      428.4      17.3       5.5

1990......................................   1,006.7   1,076.7     861.0     215.7        6.6         -76.6       66.2       974.3     -33.8    -104.1      70.3      394.2      16.3       4.5
1991......................................   1,036.6   1,023.2     802.9     220.3        4.5           9.0       72.5     1,042.9     -78.8    -141.5      62.7      297.3      16.2       4.0
1992......................................   1,051.0   1,087.9     864.8     223.1         .6         -37.5      102.7     1,100.4    -152.1    -222.7      70.6      336.0      15.1       3.1
1993......................................   1,102.0   1,172.4     953.4     219.0        1.3         -71.7      139.5     1,083.3    -120.8    -195.5      74.7      395.9      14.7       2.8
1994......................................   1,213.2   1,318.4   1,097.1     221.4        1.7        -106.9      142.5     1,114.0     -43.2    -132.2      88.9      484.7      15.4       3.4
1995......................................   1,285.7   1,376.7   1,144.0     232.7         .9         -91.9      101.2     1,204.5     -19.9    -115.1      95.2      498.4      16.2       4.2
1996......................................   1,384.8   1,485.2   1,240.3     244.9         .7        -101.0       93.7     1,237.8      53.3     -59.7     113.0      567.1      16.6       4.8
1997......................................   1,531.7   1,641.9   1,389.8     252.2        1.0        -111.3       70.7     1,303.6     157.5      26.7     130.7      667.5      17.7       5.9
1998......................................   1,584.1   1,771.5   1,509.1     262.4         .7        -188.1      -14.6     1,328.9     269.8     121.6     148.2      741.3      18.2       6.5
1999 .....................................   1,638.5   1,912.4   1,625.7     286.8        4.8        -278.7      -35.7     1,333.3     341.0     188.5     152.5      811.2      17.9       6.1

2000 .....................................   1,643.3   2,040.0   1,735.5     304.5         .8        -397.4     -127.2     1,334.1     436.4     276.6     159.8      852.1      17.7       5.8
2001......................................   1,567.9   1,938.3   1,614.3     324.0        1.1        -371.5      -89.6     1,400.1     257.5     134.9     122.6      656.9      16.2       3.7
2002......................................   1,468.9   1,926.6   1,579.2     347.4        1.3        -458.9      -15.3     1,552.6     -68.4    -165.5      97.1      622.7      14.1       1.7
2003......................................   1,513.3   2,024.2   1,665.8     358.5        3.1        -514.0       25.6     1,637.4    -149.7    -274.3     124.7      670.3      13.5       1.2
2004 p....................................  ........   2,301.7   1,922.4     379.3  ............  .........  ...........  ........  ........  ........  ........      894.8   ........  ........

2000: I...................................   1,612.8   1,975.6   1,672.3     303.3         .8        -363.6     -171.7     1,322.4     462.1     299.4     162.7      822.6      18.1       6.4
II..................................   1,704.6   2,085.7   1,781.7     304.0         .8        -381.9      -67.8     1,335.5     437.0     268.4     168.6      908.7      17.9       6.0
III.................................   1,630.6   2,054.0   1,749.0     305.0         .9        -424.3     -164.6     1,356.6     438.5     278.7     159.8      854.1      17.8       5.9
IV .................................   1,625.4   2,044.5   1,738.9     305.6         .8        -419.9     -104.6     1,321.9     408.1     260.1     147.9      823.3      17.1       5.0

2001: I...................................   1,577.5   1,988.5   1,675.3     313.2        1.1        -412.0     -167.8     1,354.1     391.2     244.5     146.7      748.0      17.1       4.9
II..................................   1,605.3   1,981.6   1,647.7     333.9        1.0        -377.4      -98.8     1,350.8     353.2     211.9     141.4      710.7      16.6       4.2
III ................................   1,576.8   1,929.3   1,613.0     316.3        1.2        -353.7      -71.1     1,533.8     114.1       -.2     114.3      596.6      16.1       3.1
IV .................................   1,512.2   1,854.0   1,521.4     332.7        1.0        -342.9      -20.9     1,361.7     171.4      83.5      87.8      572.2      14.9       2.4

2002: I...................................   1,487.9   1,910.8   1,568.5     342.3        1.1        -424.1      -61.8     1,578.4     -28.7    -119.8      91.1      623.7      14.9       2.5
II..................................   1,469.8   1,924.1   1,577.0     347.1        1.1        -455.3      -58.7     1,593.4     -64.9    -162.8      97.9      626.1      14.5       2.2
III ................................   1,472.3   1,932.4   1,581.3     351.1        1.4        -461.6       20.8     1,516.1     -64.6    -166.1     101.6      623.1      13.8       1.3
IV .................................   1,445.8   1,939.2   1,589.9     349.2        1.4        -494.7       38.4     1,522.6    -115.2    -213.0      97.8      617.7      13.2        .8

2003: I...................................   1,414.7   1,948.9   1,596.6     352.3        1.6        -535.9       39.6     1,490.0    -114.9    -192.0      77.0      614.9      12.8        .4
II..................................   1,449.3   1,967.8   1,611.1     356.7        6.2        -524.8       13.2     1,588.8    -152.7    -274.3     121.6      620.8      13.2        .8
III.................................   1,554.7   2,059.0   1,696.6     362.4        3.3        -507.5       36.6     1,725.5    -207.4    -342.5     135.0      698.4      13.6       1.4
IV..................................   1,634.6   2,121.2   1,758.8     362.4        1.2        -487.8       12.8     1,745.3    -123.5    -288.5     165.0      747.0      14.3       2.2

2004: I...................................   1,631.3   2,188.3   1,819.7     368.6        1.4        -558.4       63.0     1,724.9    -156.6    -299.5     142.9      833.3      13.7       1.9
II..................................   1,672.8   2,302.9   1,920.7     382.2        1.1        -631.2       56.4     1,751.1    -134.7    -287.2     152.5      927.7      13.9       2.1
III.................................   1,691.9   2,325.6   1,947.0     378.7        1.3        -635.0       90.4     1,750.1    -148.5    -290.7     142.2      827.7      13.6        .9
IV p................................  ........   2,389.8   2,002.2     387.7  ............  .........  ...........  ........  ........  ........  ........      990.3   ........  ........
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
\2\ For details on government investment, see Table B-20.
\3\ Consists of capital transfers and the acquisition and disposal of nonproduced nonfinancial assets.
\4\ Prior to 1982, equals the balance on current account, NIPA (see Table B-24).
Source: Department of Commerce, Bureau of Economic Analysis.