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To: goldsnow who wrote (44114)	10/28/1999 7:44:00 PM
From: Bobby Yellin	Read Replies (1) \| Respond to of 116814

biz.yahoo.com "Previously, software was tallied as a business expense, so it was not counted as a separate component of GDP. The new treatment of software makes GDP appear stronger over the recent decade, in which the use of software in workplaces has exploded. Its impact was to add roughly a few tenths of a percentage point to GDP growth during recent quarters. It also makes the overall U.S. rate of national saving appear healthier. -- Contributions to government employee pension plans are now categorized as a form of personal saving, rather than as government savings the way they used to be considered. The change brings the treatment of government pensions into line with that of private-sector pensions, which have always counted as personal saving. There is no net effect on GDP or the national saving rate from this change. However, it gives a big boost to the personal saving rate. For example, in 1998 the personal saving rate was 3.7 percent compared to 0.5 percent under the old methodology. New source data on income also accounted for some of the upward revision."