Annual Revision of the National Income and Product Accounts: Annual Estimates, 1995-97, and Quarterly Estimates, 1995:I-1998:I

摘要

The revised NIPA estimates show somewhat faster economic growth and a somewhat slower increase in prices than were shown by the previously published estimates. Over the period covered by the revisions, the average growth rate of real GDP was revised up 0.3 percentage point to 3.4 percent, and the average increase in the price index for gross domestic purchases was revised down 0.3 percentage point to 1.8 percent. Personal saving (and the personal saving rate) was revised down substantially, and undistributed corporate profits and the State and local government surplus or deficit were revised up substantially. The annual revisions reflect the incorporation of regular source data and the introduction of the following major changes in methodology: A redefinition affecting dividends paid by regulated investment companies (mutual funds); new source data for several types of consumer services; geometric-mean-type consumer price indexes for deflation of detailed components of personal consumption expenditures (PCE); and several new price measures—primarily producer price indexes and international price indexes—for deflation of PCE, fixed investment, exports and imports, and government spending.