Glossary

Glossary

Compensation includes accrued wages and salaries, supplements,
employer contributions to employee benefit plans, and taxes.

Consumer Price Index measures the price paid by urban consumers
for a representative basket of goods and services. Prices are
collected from 87 urban areas and from approximately 23,000 retail and
service establishments.

Debt Outstanding measures the current level debt owed on credit market
instruments. Credit market instruments include open market paper,
Treasury securities, agency and GSE-backed securities, municipal
securities, corporate and foreign bonds, bank loans, mortgages, and
consumer credit.

Durables are goods that have an average useful life of at least 3
years.

Employment Population Ratio is the ratio of the number of
civilians in the labor force to the total civilian population.

Exports consist of goods and services that are sold or
transferred by U.S. residents to foreign residents.

Goods are tangible commodities that can be stored or inventoried.

Government Consumption Expenditures and Gross Investment measures
current consumption expenditures by the government in order to produce
goods and services to the public and investment in structures and
equipment and software.

Gross Private Domestic Investment measures additions and
replacements to the stock of private fixed assets without deduction of
depreciation.

Imports consist of goods and services that are sold or
transferred by foreign residents to U.S. residents.

Industrial Production Index measures real output of
manufacturing, mining, and electric and gas utilities industries.

Job Openings or Vacancies are all positions that are open (not
filled) on the last business day of the month.

Labor Force is defined as the number of unemployed persons plus
the number of employed persons.

Labor Force Participation Rate is the ratio of employed plus unemployed persons
to the relevant population.

Net Worth equals to total assets minus total liabilities. Assets
include owner-occupied real estate, consumer durables, and equipment
and software owned by nonprofit organizations.

Nondurables are goods that have an average useful life of less
than 3 years.

Nonresidential Fixed Investment measures investment by businesses
and nonprofit institutions in nonresidential structures and in
equipment and software.

Personal Consumption Expenditures measures the value of goods
and services purchased by households, nonprofit institutions that
primarily serve households, private non-insured welfare funds, and
private trust funds.

Residential Fixed Investment measures investment by businesses
and households in residential structures and equipment, primarily new
construction of single-family and multifamily units.

Services are commodities that cannot be stored or inventoried and
that are usually consumed at the place and time of purchase.

Total Borrowing measures the flow of new credit market
liabilities during the period. Credit market liabilities include open market paper,
Treasury securities, agency and GSE-backed securities, municipal
securities, corporate and foreign bonds, bank loans, mortgages, and
consumer credit.

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