Gross Domestic Product from 1970 to 3rd Quarter 2016

There are four components in the Gross Domestic Product (GDP): Personal Consumption Expenditures, Gross Private Domestic Investments, Government Spending and Net Exports of goods and services. The share of personal consumption expenditures is more than 60% and its share in the GDP has been gradually increasing.  The next biggest share in the GDP is the government spending and its share is approximately less than 20% and its share has been gradually declining over the time. The share of private domestic investments is about 17% of the GDP and its share has been pretty stable. The net exports of goods and services take approximately 3-4% in the GDP and its share in the GDP was increasing during the 1990s and 2000s, but it has been declining since the great recession.

There are three components in the personal consumption expenditures: Services, Durable Goods and Non-Durable Goods.

The share of durable goods takes approximately 10% in the total consumption and it has been gradually declining over the time. The share of nondurable goods consumption significantly declined from 35% to 20% while the share of service consumption has been increasing from 50% to 70%.

The private investments on equipment take the biggest portion in all private investments and the percentage of intellectual property products has been growing over the time. The percentage of private investments in residential substantially grew during the housing boom before the financial crisis but shrank after it. However, it is growing again lately.