[Economic Report of the President (2006)]
[Administration of George W. Bush]
[Online through the Government Printing Office, www.gpo.gov]


 
Table B-32.--Gross saving and investment, 1959-2005
[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.......................................................    1,489.1     197.1    479.2      184.7        294.5             .0      -282.1    -247.9     -34.2   1,292.0   1,080.3      211.6
2003.......................................................    1,474.1     142.7    549.3      172.8        376.5             .0      -406.5    -382.7     -23.8   1,331.3   1,112.8      218.5
2004 ......................................................    1,572.0     136.8    549.1      151.8        397.3             .0      -412.3    -406.5      -5.9   1,435.3   1,206.2      229.1
2005 p.....................................................  .........  ........  .......      -41.6  .............           .0    ........  ........  ........   1,574.1   1,327.2      246.9

2002: I..................................    1,535.7     253.7    497.4      225.4        272.0             .0      -243.8    -208.5     -35.3   1,282.0   1,073.1      208.9
II ..................................................    1,512.6     224.4    500.9      221.2        279.7             .0      -276.5    -241.4     -35.1   1,288.2   1,077.5      210.8
III .................................................    1,461.5     166.7    445.4      153.0        292.4             .0      -278.7    -247.3     -31.4   1,294.9   1,082.4      212.5
IV ..................................................    1,446.6     143.8    473.3      139.3        334.0             .0      -329.5    -294.6     -34.9   1,302.7   1,088.4      214.3

2003: I..................................    1,413.3     101.4    465.2      154.0        311.3             .0      -363.8    -296.0     -67.8   1,311.8   1,095.7      216.1
II ..................................................    1,456.8     133.0    532.9      169.6        363.4             .0      -399.9    -373.8     -26.1   1,323.8   1,105.8      218.1
III .................................................    1,470.0     132.8    602.8      205.1        397.7             .0      -469.9    -456.2     -13.8   1,337.2   1,117.8      219.3
IV ..................................................    1,556.2     203.7    596.2      162.6        433.6             .0      -392.5    -405.0      12.5   1,352.5   1,131.8      220.6

2004: I....................................................    1,534.7     163.6    599.4      155.8        443.5             .0      -435.8    -429.3      -6.5   1,371.1   1,147.8      223.3
II...................................................    1,546.4     152.6    567.6      141.2        426.4             .0      -415.0    -413.4      -1.6   1,393.8   1,165.8      228.1
III .................................................    1,590.1      56.0    486.9      104.6        382.3             .0      -430.9    -411.6     -19.3   1,534.1   1,303.5      230.6
IV ..................................................    1,617.0     174.9    542.6      205.4        337.2             .0      -367.7    -371.6       4.0   1,442.0   1,207.6      234.5

2005: I....................................................    1,635.5     187.1    478.1       47.4        430.7             .0      -290.9    -298.3       7.4   1,448.4   1,210.9      237.5
II...................................................    1,628.4     171.2    447.2      -21.5        468.7             .0      -276.1    -297.3      21.3   1,457.2   1,216.9      240.4
III .................................................    1,696.0    -167.8    253.8     -158.9        412.6             .0      -421.6    -415.2      -6.4   1,863.8   1,603.6      260.2
IV p.................................................  .........  ........  .......      -33.3  .............           .0    ........  ........  ........   1,526.9   1,277.3      249.6
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ With inventory valuation and capital consumption adjustments.

See next page for continuation of table.


Table B-32.--Gross saving and investment, 1959-2005--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......................................   1,468.1   1,926.4   1,582.1     344.3        1.4        -459.7      -21.0     1,559.6     -70.5    -159.1      88.6      634.4      14.2       1.9
2003......................................   1,521.1   2,025.6   1,670.4     355.3        3.2        -507.7       47.1     1,662.1    -188.0    -292.5     104.5      694.3      13.4       1.3
2004 .....................................   1,648.9   2,300.6   1,928.1     372.5        1.6        -653.4       76.8     1,755.3    -183.2    -312.7     129.4      865.3      13.4       1.2
2005 p....................................  ........   2,499.4   2,099.5     399.9  ............  .........  ...........  ........  ........  ........  ........      925.4   ........  ........

2002: I...................................   1,482.1   1,903.1   1,564.1     339.0        1.2        -422.2      -53.6     1,570.5     -34.9    -119.9      85.0      621.1      14.7       2.4
II..................................   1,455.9   1,915.4   1,571.4     343.9        1.2        -460.7      -56.7     1,578.3     -65.7    -152.8      87.0      627.2      14.4       2.1
III ................................   1,476.1   1,939.7   1,592.9     346.8        1.5        -465.1       14.6     1,527.7     -66.2    -158.4      92.2      644.8      13.9       1.6
IV .................................   1,458.3   1,947.4   1,600.1     347.4        1.6        -490.7       11.7     1,561.7    -115.2    -205.1      90.0      644.7      13.6       1.4

2003: I...................................   1,429.8   1,958.9   1,610.0     349.0        1.7        -530.8       16.6     1,560.9    -147.7    -206.4      58.7      647.1      13.2        .9
II..................................   1,471.2   1,974.5   1,619.3     355.2        6.4        -509.6       14.4     1,638.7    -181.9    -283.4     101.6      650.6      13.4       1.2
III.................................   1,555.3   2,054.4   1,694.2     360.1        3.3        -502.4       85.3     1,720.6    -250.6    -365.7     115.1      717.2      13.3       1.2
IV..................................   1,628.2   2,114.7   1,757.9     356.8        1.4        -487.9       72.0     1,728.1    -171.9    -314.3     142.5      762.2      13.8       1.8

2004: I...................................   1,612.5   2,178.7   1,818.2     360.4        1.7        -567.9       77.8     1,747.2    -212.5    -337.6     125.1      807.5      13.4       1.4
II..................................   1,654.5   2,303.4   1,928.5     375.0        1.5        -650.4      108.1     1,733.4    -187.0    -320.0     133.0      909.6      13.3       1.3
III.................................   1,680.9   2,334.0   1,961.2     372.9        1.6        -654.7       90.8     1,790.4    -200.3    -317.3     117.1      799.9      13.5        .5
IV .................................   1,647.6   2,386.2   2,004.5     381.7        1.8        -740.4       30.6     1,750.2    -133.2    -275.7     142.5      944.2      13.5       1.5

2005: I...................................   1,675.0   2,441.9   2,058.5     383.4       17.3        -784.3       39.4     1,688.9     -53.4    -201.4     148.0      993.5      13.4       1.5
II..................................   1,706.6   2,453.5   2,054.4     399.1         .5        -747.3       78.3     1,664.1     -35.7    -199.6     163.9      996.3      13.2       1.4
III.................................   1,762.5   2,503.6   2,099.5     404.1         .5        -741.6       66.5     1,857.4    -161.5    -316.0     154.6      639.8      13.5      -1.3
IV p................................  ........   2,598.8   2,185.7     413.1  ............  .........  ...........  ........  ........  ........  ........    1,071.9   ........  ........
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\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.