In response, we have updated our historical series. The corrections will not appear in the historical segments of our forecast series until the next regular update ("vintage") of our forecast model (see forecast summary schedule).

Corrections are visible in the NIPA interactive tables.

There was no effect on major NIPA aggregates (such as gross domestic product, national income, corporate profits) or any other NIPA components.  For affected series the full history was revised, i.e., annual series from 1929 to 2012, and quarterly from 1947Q1 to 2013Q2; however, the primary impact was to growth rates of real nonfarm business value added for 2003 to 2009.  The impact on long-term trends is small; for example, the annualized rate of change from 2002 to 2012 was revised down less than 0.1 percentage point.

Affected tables are:

• Quarterly:
  • Table 1.3.3. Real gross value added by sector, quantity indexes
  • Table 1.3.4. Price indexes for gross value added by sector
  • Table 1.3.6. Real gross value added by sector, chained dollars
  • Table 1.9.4. Price indexes for net value added by sector
  • Table 1.9.6. Real net value added by sector, chained dollars
  • Table 5.8.6B. Real private inventories and real domestic final sales by industry
• Annual:
  • Table 1.3.1. Percent change from preceding period in real gross value added by sector
  • Table 1.3.3. Real gross value added by sector, quantity indexes
  • Table 1.3.4. Price indexes for gross value added by sector
  • Table 1.3.6. Real gross value added by sector, chained dollars
  • Table 1.9.3. Real net value added by sector, quantity indexes
  • Table 1.9.4. Price indexes for net value added by sector
  • Table 1.9.6. Real net value added by sector, chained dollars
  • Table 6.9D. Hours worked by full-time and part-time employees by industry
• Million-dollar estimates:
  • Table 1.3.6. Real gross value added by sector, chained dollars