[Economic Report of the President (2007)]
[Administration of George W. Bush]
[Online through the Government Printing Office, www.gpo.gov]


 
Table B-32.--Gross saving and investment, 1959-2006
[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.......................................................    1,459.0     122.5    515.0      174.9        325.1           15.0      -392.5    -372.1     -20.4   1,336.5   1,118.3      218.2
2004 ......................................................    1,543.7     107.5    502.4      174.3        343.0          -15.0      -394.9    -382.0     -12.9   1,436.2   1,205.4      230.8
2005 ......................................................    1,612.0       7.2    319.7      -34.8        354.5             .0      -312.5    -309.2      -3.3   1,604.8   1,352.6      252.2

2003: I..................................    1,402.6      85.5    436.9      149.1        277.8           10.0      -351.4    -290.2     -61.2   1,317.0   1,101.1      215.9
II ..................................................    1,435.6     106.2    498.9      173.9        310.0           15.0      -392.7    -365.5     -27.2   1,329.5   1,111.7      217.7
III .................................................    1,445.6     103.0    562.6      194.0        343.6           25.0      -459.6    -451.4      -8.2   1,342.6   1,123.6      219.0
IV ..................................................    1,552.2     195.2    561.5      182.5        369.0           10.0      -366.3    -381.5      15.2   1,357.0   1,136.7      220.2

2004: I..................................    1,532.7     159.5    575.2      178.9        401.3           -5.0      -415.7    -401.0     -14.7   1,373.2   1,150.3      223.0
II ..................................................    1,525.8     131.3    525.6      168.3        377.2          -20.0      -394.3    -380.6     -13.6   1,394.5   1,166.4      228.1
III .................................................    1,575.4      40.5    443.4      141.2        327.2          -25.0      -402.9    -380.6     -22.3   1,534.9   1,301.9      233.0
IV ..................................................    1,540.6      98.6    465.2      208.9        266.2          -10.0      -366.6    -365.7       -.9   1,442.0   1,203.1      238.9

2005: I....................................................    1,608.4     140.5    417.2       52.5        364.7             .0      -276.6    -287.6      10.9   1,467.8   1,225.7      242.1
II...................................................    1,565.0      74.0    351.1      -30.8        381.9             .0      -277.1    -289.6      12.4   1,491.1   1,244.9      246.2
III .................................................    1,653.5    -244.5    170.9     -132.6        303.5             .0      -415.4    -396.0     -19.3   1,898.0   1,632.3      265.7
IV ..................................................    1,621.2      58.7    339.5      -28.5        367.9             .0      -280.8    -263.6     -17.2   1,562.5   1,307.5      255.0

2006: I....................................................    1,880.5     332.4    466.7      -29.7        496.4             .0      -134.3    -147.0      12.7   1,548.0   1,288.9      259.1
II...................................................    1,789.7     216.9    353.9     -130.8        484.6             .0      -136.9    -163.1      26.1   1,572.8   1,309.8      262.9
III .................................................    1,806.9     224.9    400.7     -111.7        512.4             .0      -175.8    -165.6     -10.2   1,582.0   1,314.4      267.6
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ With inventory valuation and capital consumption adjustments.

See next page for continuation of table.


Table B-32.--Gross saving and investment, 1959-2006--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....................................   1,507.8   2,020.0   1,664.1     356.0        3.2        -515.5       48.8     1,633.3    -174.3      -281.7     107.4      683.5      13.3       1.1
2004 ...................................   1,610.3   2,259.4   1,888.0     371.4        2.3        -651.3       66.7     1,707.8    -164.1      -287.9     123.8      823.2      13.2        .9
2005 ...................................   1,683.1   2,454.5   2,057.4     397.1        4.4        -775.8       71.0     1,672.3     -60.2      -210.1     149.9      849.7      13.0        .1

2003: I.................................   1,423.8   1,954.6   1,606.4     348.2        1.7        -532.5       21.3     1,538.1    -135.5      -200.4      64.9      637.6      13.1        .8
II................................   1,456.7   1,969.6   1,617.1     352.5        6.4        -519.2       21.1     1,610.6    -175.0      -274.9     100.0      640.1      13.2       1.0
III ..............................   1,543.5   2,053.4   1,690.5     362.8        3.3        -513.2       97.9     1,686.2    -240.6      -360.7     120.1      710.7      13.1        .9
IV ...............................   1,607.1   2,102.6   1,742.3     360.3        1.4        -496.9       54.9     1,698.2    -146.0      -290.7     144.7      745.6      13.8       1.7

2004: I.................................   1,576.7   2,140.2   1,781.9     358.3        1.8        -565.4       43.9     1,725.5    -192.7      -309.2     116.5      767.0      13.4       1.4
II................................   1,614.0   2,263.8   1,892.2     371.7        1.6        -651.4       88.2     1,691.9    -166.1      -286.8     120.7      869.3      13.2       1.1
III...............................   1,642.2   2,293.6   1,917.7     375.9        3.7        -655.1       66.8     1,745.3    -169.9      -286.1     116.2      758.7      13.4        .3
IV................................   1,608.4   2,339.9   1,960.2     379.7        1.9        -733.4       67.8     1,668.3    -127.7      -269.5     141.8      897.9      12.9        .8

2005: I.................................   1,645.7   2,397.1   2,013.5     383.6       10.8        -762.1       37.4     1,642.9     -34.5      -190.1     155.6      929.3      13.2       1.2
II................................   1,653.1   2,404.4   2,009.1     395.3        2.4        -753.6       88.1     1,596.0     -31.0      -191.3     160.3      913.3      12.7        .6
III...............................   1,737.9   2,452.9   2,052.6     400.3        2.2        -717.2       84.5     1,803.2    -149.7      -296.2     146.6      554.9      13.2      -1.9
IV ...............................   1,695.4   2,563.6   2,154.5     409.1        2.1        -870.2       74.3     1,647.0     -25.8      -162.9     137.1    1,001.1      12.8        .5

2006: I.................................   1,818.6   2,634.7   2,214.8     419.9        7.0        -823.1      -61.9     1,755.7     124.8       -44.6     169.4    1,086.7      14.4       2.5
II................................   1,825.5   2,668.0   2,237.1     430.9        3.5        -846.1       35.8     1,663.7     126.0       -59.4     185.4    1,095.2      13.6       1.6
III...............................   1,801.6   2,668.5   2,235.5     433.0        1.7        -868.7       -5.3     1,715.1      91.8       -60.5     152.3    1,086.5      13.5       1.7
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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.