STD/NA(2002)14
1
STD/NA(2002)14
PRESENTING IMPUTATIONS IN THE NATIONAL INCOME AND PRODUCT ACCOUNTS
Introduction
Imputations play an important role in national accounts by providing a mechanism for measuring the services associated with complex transactions, such as financial intermediation, and for measuring the value of non market output. In addition, imputations may guarantee that the value of gross domestic product (GDP) or other important aggregates are invariant to the way certain transactions are carried out—for example, the imputation of production of housing services by owner occupiers keeps GDP invariant to whether dwellings are rented or owner occupied.
Yet imputations are often poorly understood or misunderstood by data users, and the role of imputations often leads to questions. Even if a user is aware that an imputed value appears in the accounts, he or she may be unaware of the full set of changes to the accounts associated with the imputation. For example, a user may know that the accounts include an imputed rental value for owner occupied dwellings, yet may be unaware that household expenditures for repairs and maintenance are treated as intermediate consumption. Consequently, it generally would be quite difficult for the typical user to infer the effects of imputations on GDP and the other balancing items in the accounts without some assistance.
For many years the Bureau of Economic Analysis (BEA) has published a table, “Imputations in the National Income and Product Accounts,” which is designed to answer questions about imputations and to instruct users on their role in the accounts. The table was first published in 1965, although a predecessor table on personal income and personal consumption expenditures in kind had been published since the first appearance of the U.S. national income and product accounts (NIPA) in 1947. The table was most recently revised in 1999 to show additional details on several of the imputations. It is shown here as table 8.21 as published in the August 2002 issue of Survey of Current Business. This paper will briefly discuss the definition and role of imputations in national accounts, then will describe the presentation of table 8.21 and some of its uses.
Definition and role of imputations
The System of National Accounts, 1993 (SNA) describes a number of imputations, but as far as I am aware it does not really provide a definition.[1] The term is generally used by national accountants with a rather specialized meaning that differs from its usage in other areas of statistics; for example, estimation of missing survey data arising from non response would generally not be included in a discussion of imputations in national accounts. Since I am not aware of a definition of “imputation” as used in the national accounting literature, I will attempt to provide one. It would be helpful if the Inter-Secretariat Working Group on National Accounts were to develop an official definition.
My tentative (draft) definition is the following: An imputation in national accounts refers to a flow that must be estimated by the national accountant because there is no directly related monetary transaction that is recorded in the books of a party to the transaction. Imputations generally arise for one of two reasons: (a) own account production that takes place within the production boundary of the system, such as services the produced by owner-occupied dwellings, or (b) transactions that are not directly associated with an exchange of money between the transacting parties because the transactions involve barter, transactions in kind, or bundling the provision of a service with a financial transaction, such as depositing funds in a bank. Revaluations of stocks or flows that appear on the books of transactors, such as the revaluation by national accountants of fixed assets or of inventories, are not considered to be imputations. Because imputations are not recorded by either party to a transaction, the national accountant must take care to insert the same imputed values into the calculation of GDP by each of the estimation approaches: expenditure, income, or output.
This definition is not a precise one, and it leaves room for debate about which flows should be considered imputations. For example, own account fixed capital formation does not involve a sale or purchase, so it arguably could be considered an imputation. For the NIPA imputations table, however, own account fixed capital formation is not deemed an imputation because these activities are generally valued in the accounts based on expenses, which do directly reflect monetary transactions. Similarly, the change in inventories for work in progress does not involve a sale or purchase, but is not counted as an imputation because it is generally recorded in the books of the enterprise. The provision of brokerage services that are paid for by the spread between bid and ask prices is not considered to be an imputation because the bid ask spread is generally accounted for on the books of the broker, even though the spread generally does not appear on the books of the institutional unit purchasing the services.
Imputations have long been considered a necessary part of the accounts. Without imputations, it is well known that the usual accounting approaches would result in anomalies—for example, in the absence of FISIM, value added of banking could easily be negative. Another point emphasized by the SNA in the discussion of the imputation for owner occupied dwellings is that imputations help keep the accounts invariant to different arrangements, such as the choice of whether to rent or to own a dwelling. Academic researchers who have constructed extended sets of national accounts have generally included more imputations than are included in the official accounts.[2]
The SNA, on the other hand, allows for a fairly limited set of imputations. The limitation reflects a reasonable concern by official statisticians that excessive reliance on imputations could impair the usefulness, accuracy, and transparency of the accounts. Imputations could impair the usefulness of the accounts for tracking business cycles if imputed values are excessively smooth (for example, if the imputation is essentially a trended estimate) or if the imputed values exhibit volatility that is unrelated to general economic conditions. Imputations can also make the accounts less useful for policy purposes; for example, imputations could reduce the correlation between measured income and taxable income, which could reduce the reliability of forecasts of tax revenue based on national accounts measures. Thus the SNA has had to strike a balance between including imputations that are necessary for describing economic activity and avoiding less useful imputations.
Presentation of NIPA imputations table
Table 8.21 presents extensive information on the impact of imputations on the NIPA. In perusing table 8.21, the reader who is unfamiliar with the NIPA will immediately observe that the NIPA aggregates and balancing items often do not follow SNA terminology or presentational conventions. While major NIPA aggregates such as GDP are generally consistent with the concepts and definitions of SNA 1993, the NIPA continue to be presented using a simplified set of summary accounts and non standard sectors and classifications. The annex to this paper provides a glossary in which each NIPA term appearing in the table is associated with a similarly defined SNA term.[3] BEA does provide annual national accounts data submissions to the OECD that have been reclassified to follow standard SNA definitions.
Lines 170 179 are perhaps the best place to start; these lines summarize seven imputations or groups of imputations that affect GDP.[4] In aggregate, roughly 15 percent of U.S. GDP is accounted for by imputations. Four major imputations account for most of the total: owner occupied dwellings represent about 6 percent of GDP, employment related imputations (primarily employer contributions for health and life insurance) are a little more than 3 percent of GDP, FISIM is about 3 percent of GDP, and consumption of general government fixed capital is a little less than 2 percent of GDP.
Details on the imputations are shown in lines 112 169. To measure the effect of each imputation, a counterfactual set of accounts must be formulated to postulate how the accounts would be recorded in the absence of the imputation. For example, in the case of owner occupied dwellings the counterfactual assumes that imputed rental values would be omitted from household final consumption expenditures, that expenditures for maintenance and repair would be recorded as final rather than intermediate consumption, and that the purchase of dwellings would be recorded as final consumption rather than as gross fixed capital formation (this last reclassification would not affect the level of GDP). Imputed compensation is mostly employer contributions for insurance; the table treats all contributions for health and life insurance as imputations because they are not monetary transactions for the employee.[5] The contribution is assumed to be treated as intermediate consumption under the counterfactual. In the case of non market output of general government, the value of services produced is based on costs, which include actual transactions (purchases of goods and services and compensation paid to employees) and consumption of fixed capital (a partial value of the services provided by fixed assets), which is not a transaction. Therefore, in table 8.21 only the portion of general government non market output that represents the value of consumption of fixed capital is shown as the effect of the imputation.
In addition to the effects on GDP, table 8.21 also presents the effects of imputations on other major aggregates and balancing items. Data users seem to be particularly interested, for example, in understanding the effects of imputations on measures of household income, final consumption expenditures, and net saving. The specific imputations that receive the most attention are those for owner occupied dwellings and for FISIM; in both cases the imputation affects several categories in the accounts, so it would be difficult for the user to trace all of the effects of the imputations without the information provided in this table.
The imputation table has long served a valuable function for BEA’s users and staff by providing information about imputations, improving the transparency of the accounts, and teaching users about the construction of the accounts. I encourage other statistical offices to consider developing a similar presentation of imputations in their accounts.
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STD/NA(2002)14
Annex: Glossary of NIPA terms used in table 8.21
For each NIPA term I have tried to list the most similarly defined SNA term. These do not represent exact equivalents—in several cases there are other definitional differences that I do not attempt to describe in this paper.[6]
NIPA termmost similar SNA term
Business / Enterprises (owner occupied dwellings are treated as enterprises)Current surplus of government enterprises / Net operating surplus of public enterprises
Disposable personal income / Disposable income of households and nonprofit institutions serving households (NPISH)
Indirect business tax and nontax payments / Taxes on production and imports
Interest paid by persons / Household sector interest payable, excluding interest payable by enterprises
Government / General government sector for production and generation of income accounts; public sector for the other distribution and use of income accounts and for the capital account
Government consumption expenditures / General government final consumption expenditures
Government current expenditure / Public sector current expenditures
Government current receipts / Public sector current receipts
Government current surplus or deficit / Public sector net saving
Government gross investment / Public sector gross fixed capital formation
Gross national income / Gross national income (estimated by income approach)
Gross national product / Gross national income (estimated by expenditure approach)
Gross private domestic investment / Private sector gross fixed capital formation plus change in inventories
Net interest / Interest payable less interest receivable by private enterprises
Other labor income / Employers' social contributions to private funded social insurance
Personal consumption expenditures / Final consumption expenditures of households and NPISH
Personal income / Disposable income plus current taxes on income, wealth, etc. of households and NPISH
Personal saving / Net saving of households and NPISH
Personal tax and nontax payments / Taxes on income, wealth, etc. payable by households and NPISH
Persons / Households (excluding enterprises in the production and generation of income accounts) and NPISH
Proprietors’ income with inventory valuation and capital consumption adjustments / Household sector net entrepreneurial income, excluding income from rentals or from imputed rentals of owner occupants
Rental income of persons with capital consumption adjustment / Household sector net entrepreneurial income from rentals or from imputed rentals of owner occupants
Transfer payments to persons / Social benefits other than social transfers in kind received by households and NPISH
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STD/NA(2002)14
Table 8.21. Imputations in the National Income and Product Accounts
[Billions of dollars]
Line / 1998 / 1999 / 2000 / 2001Gross national product
1 / Gross national product / 8,778.1 / 9,297.1 / 9,848.0 / 10,104.1
2 / Imputations (112-115+130+135+136+ 139+143+144+145+146+147+151+ 153) / 1,280.9 / 1,364.0 / 1,471.6 / 1,531.2
3 / Excluding imputations (1-2) / 7,497.2 / 7,933.1 / 8,376.4 / 8,572.9
4 / Personal consumption expenditures / 5,856.0 / 6,246.5 / 6,683.7 / 6,987.0
5 / Imputations (112-115-149-150+130+ 135+139+143+144+145+146) / 731.4 / 774.2 / 845.3 / 875.3
6 / Excluding imputations (4-5) / 5,124.7 / 5,472.3 / 5,838.4 / 6,111.7
7 / Gross private domestic investment / 1,538.7 / 1,636.7 / 1,755.4 / 1,586.0
8 / Imputations (149+150+151) / 376.8 / 407.6 / 431.7 / 453.9
9 / Excluding imputations (7-8) / 1,162.0 / 1,229.1 / 1,323.6 / 1,132.1
10 / Net exports of goods and services and income / -155.2 / -227.2 / -342.1 / -326.9
11 / Imputations (14-17) / 0.0 / 0.0 / 0.0 / 0.0
12 / Excluding imputations (10-11) / -155.2 / -227.2 / -342.1 / -326.9
13 / Exports of goods and services and income receipts / 1,251.1 / 1,306.2 / 1,484.5 / 1,351.1
14 / Imputations (138) / 18.5 / 16.0 / 21.1 / 18.3
15 / Excluding imputations (13-14) / 1,232.6 / 1,290.2 / 1,463.5 / 1,332.8
16 / Imports of goods and services and income payments / 1,406.2 / 1,533.4 / 1,826.6 / 1,678.0
17 / Imputations (138) / 18.5 / 16.0 / 21.1 / 18.3
18 / Excluding imputations (16-17) / 1,387.7 / 1,517.4 / 1,805.5 / 1,659.7
19 / Government consumption expenditures and gross investment / 1,538.5 / 1,641.0 / 1,751.0 / 1,858.0
20 / Imputations (136+147+153) / 172.8 / 182.2 / 194.5 / 202.0
21 / Excluding imputations (19-20) / 1,365.7 / 1,458.8 / 1,556.5 / 1,656.0
22 / Government consumption expenditures / 1,261.4 / 1,336.3 / 1,431.2 / 1,522.2
23 / Imputations (136+147+153-154) / -104.4 / -122.5 / -125.3 / -133.8
24 / Excluding imputations (22-23) / 1,365.7 / 1,458.8 / 1,556.5 / 1,656.0
25 / Gross government investment / 277.1 / 304.7 / 319.8 / 335.8
26 / Imputations (154) / 277.1 / 304.7 / 319.8 / 335.8
27 / Excluding imputations (25-26) / 0.0 / 0.0 / 0.0 / 0.0
Gross national income
28 / Gross national income / 8,809.1 / 9,335.8 / 9,976.5 / 10,221.4
29 / Imputations (112-115+130+135+136+ 139+142+151+153) / 1,280.9 / 1,364.0 / 1,471.6 / 1,531.2
30 / Excluding imputations (28-29) / 7,528.2 / 7,971.8 / 8,504.9 / 8,690.1
31 / Compensation of employees / 4,989.6 / 5,308.8 / 5,723.4 / 5,874.9
32 / Imputations (142) / 286.4 / 306.2 / 333.7 / 354.8
33 / Excluding imputations (31-32) / 4,703.2 / 5,002.6 / 5,389.7 / 5,520.0
34 / Proprietors' income with inventory valuation and capital consumption adjustments / 623.8 / 678.4 / 714.8 / 727.9
35 / Imputations (128+139+151) / 7.7 / 8.1 / 8.6 / 8.7
36 / Excluding imputations (34-35) / 616.1 / 670.3 / 706.2 / 719.2
Table 8.21. Imputations in the National Income and Product Accounts—Continued
[Billions of dollars]
Line / 1998 / 1999 / 2000 / 200164 / Rental income of persons with capital consumption adjustment / 138.6 / 149.1 / 146.6 / 137.9
65 / Imputations (129) / 80.4 / 90.2 / 92.2 / 84.2
66 / Excluding imputations (64-65) / 58.2 / 58.9 / 54.5 / 53.6
67 / Personal interest income / 964.4 / 969.2 / 1,077.0 / 1,091.3
68 / Imputations (135) / 221.2 / 233.8 / 258.1 / 259.5
69 / Excluding imputations (67-68) / 743.3 / 735.4 / 818.9 / 831.7
70 / Transfer payments to persons / 983.7 / 1,018.5 / 1,070.3 / 1,170.4
71 / Imputations (-124) / 0.0 / 0.0 / 0.0 / 0.0
72 / Excluding imputations (70-71) / 983.8 / 1,018.5 / 1,070.3 / 1,170.4
73 / Personal tax and nontax payments / 1,070.4 / 1,159.1 / 1,286.4 / 1,292.1
74 / Imputations (-121-132) / -96.3 / -100.0 / -103.7 / -107.7
75 / Excluding imputations (73-74) / 1,166.7 / 1,259.2 / 1,390.1 / 1,399.8
76 / Disposable personal income / 6,355.6 / 6,627.4 / 7,120.2 / 7,393.2
77 / Imputations (53-74) / 688.9 / 735.3 / 793.1 / 811.7
78 / Excluding imputations (76-77) / 5,666.7 / 5,892.1 / 6,327.0 / 6,581.5
79 / Personal outlays / 6,054.1 / 6,453.3 / 6,918.6 / 7,223.5
80 / Imputations (83+86) / 448.2 / 473.6 / 515.5 / 525.9
81 / Excluding imputations (79-80) / 5,605.9 / 5,979.7 / 6,403.1 / 6,697.6
82 / Personal consumption expenditures / 5,856.0 / 6,246.5 / 6,683.7 / 6,987.0
83 / Imputations (5) / 731.4 / 774.2 / 845.3 / 875.3
84 / Excluding imputations (82-83) / 5,124.7 / 5,472.3 / 5,838.4 / 6,111.7
85 / Interest paid by persons / 173.7 / 179.5 / 205.4 / 205.4
86 / Imputations (-118-131) / -283.2 / -300.6 / -329.9 / -349.4
87 / Excluding imputations (85-86) / 456.9 / 480.0 / 535.2 / 554.8
88 / Personal saving / 301.5 / 174.0 / 201.5 / 169.7
89 / Imputations (149+150+151-125-133) / 240.7 / 261.7 / 277.7 / 285.8
90 / Excluding imputations (88-89) / 60.8 / -87.6 / -76.1 / -116.0
Government current receipts, expenditures, and surplus or deficit
91 / Government current receipts / 2,613.8 / 2,780.3 / 3,000.6 / 2,992.3
92 / Imputations (147) / 3.1 / 3.0 / 3.1 / 3.2
93 / Excluding imputations (91-92) / 2,610.7 / 2,777.3 / 2,997.5 / 2,989.1
94 / Government current expenditures / 2,529.3 / 2,630.1 / 2,775.8 / 2,951.6
95 / Imputations (147+153-154) / -113.9 / -133.0 / -137.2 / -144.9
96 / Excluding imputations (94-95) / 2,643.3 / 2,763.1 / 2,913.0 / 3,096.5
97 / Government current surplus or deficit / 84.5 / 150.2 / 224.8 / 40.7
98 / Imputations (154-153) / 117.0 / 136.0 / 140.3 / 148.2
99 / Excluding imputations (97-98) / -32.5 / 14.2 / 84.5 / -107.5
Table 8.21. Imputations in the National Income and Product Accounts—Continued
[Billions of dollars]
Line / 1998 / 1999 / 2000 / 2001Gross saving or gross investment
100 / Gross investment, or gross saving and statistical discrepancy / 1,616.2 / 1,665.4 / 1,679.4 / 1,545.1
101 / Imputations (148+154) / 376.8 / 407.6 / 431.7 / 453.9
102 / Excluding imputations (100-101) / 1,239.4 / 1,257.8 / 1,247.7 / 1,091.2
103 / Personal saving / 301.5 / 174.0 / 201.5 / 169.7
104 / Imputations (148-125-133) / 240.7 / 261.7 / 277.7 / 285.8
105 / Excluding imputations (103-104) / 60.8 / -87.6 / -76.1 / -116.0
106 / Consumption of fixed capital / 1,072.0 / 1,145.2 / 1,228.9 / 1,329.3
107 / Imputations (125+133+153) / 296.1 / 314.6 / 333.6 / 355.8
108 / Excluding imputations (106-107) / 775.8 / 830.6 / 895.3 / 973.5
109 / Government current surplus or deficit / 84.5 / 150.2 / 224.8 / 40.7
110 / Imputations (154-153) / 117.0 / 136.0 / 140.3 / 148.2
111 / Excluding imputations (109-110) / -32.5 / 14.2 / 84.5 / -107.5
Specific imputations
Owner-occupied housing:
112 / Space rent / 631.4 / 673.3 / 712.1 / 758.5
113 / Nonfarm / 625.0 / 666.4 / 704.9 / 751.0
114 / Farm / 6.4 / 6.8 / 7.2 / 7.6
115 / Intermediate inputs / 90.4 / 91.4 / 90.7 / 110.0
116 / Nonfarm / 89.4 / 90.2 / 89.4 / 108.7
117 / Farm / 1.0 / 1.2 / 1.3 / 1.4
118 / Net interest / 267.2 / 284.2 / 313.2 / 332.7
119 / Nonfarm / 266.6 / 283.6 / 312.6 / 332.1
120 / Farm / 0.6 / 0.6 / 0.7 / 0.7
121 / Indirect business tax and nontax liability / 92.0 / 95.6 / 99.1 / 102.9
122 / Nonfarm / 91.1 / 94.7 / 98.2 / 101.9
123 / Farm / 0.9 / 0.9 / 0.9 / 1.0
124 / Subsidies (nonfarm) / 0.0 / 0.0 / 0.0 / 0.0
125 / Consumption of fixed capital / 101.1 / 111.6 / 116.7 / 128.4
126 / Nonfarm / 97.6 / 107.8 / 112.7 / 124.1
127 / Farm / 3.5 / 3.8 / 4.0 / 4.3
128 / Proprietors' income with inventory valuation and capital consumption adjustments (114-117-120-123-127) / 0.3 / 0.3 / 0.3 / 0.3
129 / Rental income of persons with capital consumption adjustment (113-116-119-122+124-126) / 80.4 / 90.2 / 92.2 / 84.2
130 / Rental value of nonresidential fixed assets owned and used by nonprofit institutions serving individuals\1\ / 55.2 / 55.2 / 58.7 / 61.2
131 / Net interest (interest paid) / 16.0 / 16.4 / 16.6 / 16.7
132 / Indirect business tax and nontax liability / 4.3 / 4.4 / 4.6 / 4.8
133 / Consumption of fixed capital / 34.9 / 34.4 / 37.4 / 39.7
Table 8.21. Imputations in the National Income and Product Accounts—Continued
[Billions of dollars]
Line / 1998 / 1999 / 2000 / 2001134 / Services furnished without payment by financial intermediaries except life insurance carriers (imputed interest received) / 323.8 / 336.5 / 375.9 / 373.2
135 / Persons\2\ / 221.2 / 233.8 / 258.1 / 259.5
136 / Government / 9.6 / 10.5 / 11.9 / 11.1
137 / Business / 74.5 / 76.3 / 84.8 / 84.3
138 / Rest of the world\3\ / 18.5 / 16.0 / 21.1 / 18.3
139 / Farm products consumed on farms / 0.2 / 0.2 / 0.2 / 0.2
140 / Output / 0.5 / 0.5 / 0.6 / 0.6
141 / Less: Intermediate inputs / 0.3 / 0.3 / 0.4 / 0.4
142 / Employment-related imputations / 286.4 / 306.2 / 333.7 / 354.8
143 / Food furnished to employees, including military and domestic service\4\ / 10.3 / 10.7 / 10.9 / 11.2
144 / Standard clothing issued to military personnel\4\ / 0.3 / 0.3 / 0.3 / 0.3
145 / Employees' lodging\4\ / 0.4 / 0.4 / 0.5 / 0.5
146 / Employer contributions for health and life insurance\5\ / 272.3 / 291.8 / 318.8 / 339.6
147 / Contributions for social insurance for Federal Government employees for certain programs\6\ / 3.1 / 3.0 / 3.1 / 3.2
148 / Private investment-related imputations / 376.8 / 407.6 / 431.7 / 453.9
149 / Owner-occupied residential structures\7\ / 308.6 / 339.0 / 356.6 / 377.6
150 / Nonresidential fixed investment by nonprofit institutions serving individuals\8\ / 60.9 / 61.0 / 67.0 / 68.1
151 / Margins on owner-built housing / 7.3 / 7.7 / 8.1 / 8.2
152 / Government investment-related imputations / 437.2 / 473.3 / 499.3 / 523.5
153 / General government consumption of fixed capital\9\ / 160.1 / 168.6 / 179.5 / 187.7
154 / Gross government investment\10\ / 277.1 / 304.7 / 319.8 / 335.8
Interest-related imputations:
155 / Net interest (118+131+134-137-138) / 514.0 / 544.9 / 599.9 / 620.0
156 / Monetary interest paid by persons / 283.2 / 300.6 / 329.9 / 349.4
157 / Owner-occupied housing (118) / 267.2 / 284.2 / 313.2 / 332.7
158 / Interest paid by nonprofit institutions serving individuals (131) / 16.0 / 16.4 / 16.6 / 16.7
159 / Imputed interest paid by banks, credit agencies, and investment companies (134) / 323.8 / 336.5 / 375.9 / 373.2
160 / Less: Imputed interest received / 93.0 / 92.2 / 105.9 / 102.6
161 / By business (137) / 74.5 / 76.3 / 84.8 / 84.3
162 / By the rest of the world (138) / 18.5 / 16.0 / 21.1 / 18.3
163 / Interest paid by persons / -283.2 / -300.6 / -329.9 / -349.4
164 / Owner-occupied housing (-118) / -267.2 / -284.2 / -313.2 / -332.7
165 / Interest paid by nonprofit institutions serving individuals (-131) / -16.0 / -16.4 / -16.6 / -16.7
166 / Personal interest income (134-136-137-138) / 221.2 / 233.8 / 258.1 / 259.5
167 / Net interest (118+131+134-137-138) / 514.0 / 544.9 / 599.9 / 620.0
168 / Imputed interest received by government (-136) / -9.6 / -10.5 / -11.9 / -11.1
169 / Interest paid by persons (-118-131) / -283.2 / -300.6 / -329.9 / -349.4
Table 8.21. Imputations in the National Income and Product Accounts—Continued
[Billions of dollars]
Line / 1998 / 1999 / 2000 / 2001Selected aggregates
170 / Gross domestic product / 8,781.5 / 9,274.3 / 9,824.6 / 10,082.2
171 / Imputations / 1,299.4 / 1,380.0 / 1,492.7 / 1,549.5
172 / Owner-occupied housing (113-116+114-117) / 541.0 / 581.9 / 621.5 / 648.5
173 / Rental value of nonresidential fixed assets owned and used by nonprofit institutions serving individuals (131+132+133) / 55.2 / 55.2 / 58.7 / 61.2
174 / Services furnished without payment by financial intermediaries except life insurance carriers (135+136+138) / 249.3 / 260.3 / 291.1 / 288.9
175 / Employment-related imputations (142) / 286.4 / 306.2 / 333.7 / 354.8
176 / Farm products consumed on farms (139) / 0.2 / 0.2 / 0.2 / 0.2
177 / Margins on owner-built housing (151) / 7.3 / 7.7 / 8.1 / 8.2
178 / Consumption of general government fixed capital (153) / 160.1 / 168.6 / 179.5 / 187.7
179 / Excluding imputations (170-171) / 7,482.1 / 7,894.4 / 8,331.9 / 8,532.6
180 / Personal income / 7,426.0 / 7,786.5 / 8,406.6 / 8,685.3
181 / Imputations / 592.6 / 635.2 / 689.4 / 704.0
182 / Food furnished to employees, including military and domestic service (143) / 10.3 / 10.7 / 10.9 / 11.2
183 / Standard clothing issued to military personnel (144) / 0.3 / 0.3 / 0.3 / 0.3
184 / Employees' lodging (145) / 0.4 / 0.4 / 0.5 / 0.5
185 / Employer contributions for health and life insurance (146) / 272.3 / 291.8 / 318.8 / 339.6
186 / Owner-occupied farm housing (128) / 0.3 / 0.3 / 0.3 / 0.3
187 / Farm products consumed on farms (139) / 0.2 / 0.2 / 0.2 / 0.2
188 / Margins on owner-built housing (151) / 7.3 / 7.7 / 8.1 / 8.2
189 / Owner-occupied nonfarm housing (129-124) / 80.4 / 90.2 / 92.1 / 84.2
190 / Services furnished without payment by financial intermediaries except life insurance carriers (135) / 221.2 / 233.8 / 258.1 / 259.5
191 / Excluding imputations (180-181) / 6,833.4 / 7,151.3 / 7,717.2 / 7,981.3
1.Residential dwellings owned and used by nonprofit institutions serving individuals are included in owner-occupied housing categories.