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SURVEY OF CURRENT BUSINESS

D-2 • National Data

March 1998

National Data
A. Selected NIPA Tables
The tables in this section include the most recent estimates of gross domestic product and its components;
these estimates were released on February 27,1998 and include the "preliminary" estimates for the fourth quarter
of 1997 and for the year 1997.
The selected set of NIPA tables shown in this section presents quarterly estimates, which are updated monthly.
In most tables, the annual estimates are also shown. Most of the "annual only" NIPA tables were presented in the
August 1997 SURVEY OF CURRENT BUSINESS; tables 8.20-8.26 were presented in the September 1997 SURVEY; and
the remaining "annual only" tables—tables 3.15-3.20 and 9.1-9.6—were presented in the October 1997 SURVEY.
The selected NIPA tables are available on printouts or diskettes from BEA. To order NIPA subscription
products using Visa or MasterCard, call the BEA Order Desk at 1-800-704-0415 (outside the United States,
202-606-9666).
The news release on gross domestic product (GDP) is available at the time of release, and the selected NIPA
tables are available later that day, on STAT-USA'S Economic Bulletin Board and Internet services; for information,
call STAT-USA on 202-482-1986. In addition, the GDP news release is available the afternoon of the day of the
release, and the selected NIPA tables are available about 2 weeks later (when the SURVEY is sent to the printer),
on BEA'S Internet site <http://www.bea.doc.gov>.

i. National Product and Income.
Table 1.1.—Gross Domestic Product

Table 1.2.—Real Gross Domestic Product

[Billions of dollars]

[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

1996

1997

Gross domestic product

1996

1997

1996

III

IV

I

II

III

7,636.0 8,081.0 7,676.0 7,792.9 7,933.6 8,034.3 8,124.3 8,231.8

Gross domestic product

5,207.6 5,488.1 5,227.4 5,308.1 5,405.7 5,432.1 5,527.4 5,587.2

Personal consumption
expenditures

Durable goods
Nondurable goods
Services

634.5 659.1 634.5 638.2 658.4 644.5 667.3 666.2
1,534.7 1,592.1 1,538.3 1,560.1 1,587.4 1,578.9 1,600.8 1,601.4
3,038.4 3,236.9 3,054.6 3,109.8 3,159.9 3,208.7 3,259.3 3,319.6

Durable goods
Nondurable goods
Services

Gross private domestic
investment

1,116.5 1,240.9 1,149.2 1,151.1 1,193.6 1,242.0 1,250.2 1,277.8

Gross private domestic
investment

Net exports of goods and
services
Exports
Goods
Services
Imports
Goods
Services
Government consumption
expenditures and gross
investment
Federal
National defense
Nondefense
State and local

1,090.7 1,172.6 1,112.0 1,119.2 1,127.5 1,160.8 1,201.3 1,200.8
781.4 845.4 798.6 807.2 811.3 836.3 872.0 861.9
215.2 229.9 217.7 227.0 227.4 226.8 232.9 232.5
,.

566.2
309.2

615.5
327.2

580.9
313.5

580.2
312.0

583.9
316.2

609.5
324.6

639.1
329.3

629.4
338.9

25.9

68.3

37.1

31.9

66.1

81.1

48.9

77.0

-94.8 -100.8 -114.0 -88.6 -88.8 -S8.7 -111.3 -104.2
870.9 958.0
617.5 686.5
253.3 271.5
965.7 1,058.8
809.0 888.7
156.7 170.0

863.7 904.6 922.2 960.3 965.8 983.8
609.7 640.5 656.2 690.0 691.1 708.7
254.0 264.2 266.0 270.3 274.8 275.1
977.6 993.2 1,021.0 1,049.0 1,077.1 1,088.0
820.2 834.6 855.8 880.1 905.6 913.5
157.5 158.6 165.2 168.9 171.6 174.5

1,406.7 1,452.7 1,413.5 1,422.3 1,433.1 1,449.0 1,457.9 1,470.9
520.0
352.8
167.3
886.7

523.8
350.4
173.4
928.9

521.6
354.8
166.8
891.9

517.6
350.6
167.0
904.7

516.1
343.3
172.8
917.0

526.1
350.6
175.5
923.0

525.7
352.1
173.6
932.3

NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.




527.4
355.6
171.8
943.5

1996

III

Personal consumption
expenditures

Fixed investment
Nonresidential
Structures
Producers' durable
equipment
Residential
Change in business
inventories

1997

IV

Net exports of goods and
services

. . .

Government consumption
expenditures and gross
investment
Federal
National defense .
Nondefense
State and local . . . .
Residual

I

II

III

IV

6,928.4 7,189.6 6,943.8 7,017.4 7,101.6 7,159.6 7,214.0 7,283.3
4,714.1 4,869.3 4,718.2 4,756.4 4,818.1 4,829.4 4,896.2 4,933.5
611.1 645.5 611.9 617.1 637.8 629.0 656.1 658.9
1,432.3 1,458.8 1,433.9 1,441.2 1,457.8 1,450.0 1,465.5 1,461.9
2,671.0 2,765.7 2,672.8 2,698.2 2,723.9 2,749.8 2,776.1 2,812.9

Fixed investment
Nonresidential
Structures
Producers' durable
equipment
Residential
Change in business
inventories

Exports .
Goods
Services
Imports
Goods
Services

1997

IV

1,069.1 1,195.7 1,100.3 1,104.8 1,149.2 1,197.1 1,204.6 1,231.8
1,041.7 1,122.2 1,060.9 1,068.7 1,079.0 1,111.4 1,149.3 1,149.2
771.7 846.8 789.3 800.8 808.9 837.0 874.5 866.6
188.7 195.2 190.0 196.9 195.9 193.5 196.7 194.5
586.0
272.1

657.7
279.6

602.9
274.1

606.7
271.1

616.6
273.3

649.3
278.2

685.3
280.1

679.7
286.7

25.0

65.7

37.9

32.9

63.7

77.6

47.5

74.0

-114.4 -146.4 -138.9 -105.6 -126.3 -136.6 -164.1 -158.5
857.0 963.6 851,4 901.1 922.7 962.5 973.0 996.4
628.4 725.2 623.0 666.2 686.2 725.8 731.8 757.0
229.9 242.3 229.4 236.8 238.9 240.8 245.0 244.5
971.5 1,110.0 990.2 1,006.6 1,048.9 1,099.1 1,137.1 1 1549
823.1 947.7 841.7 857.5 891.3 938.4 972.7 988.4
149.0 163.5 149.3 150.0 158.4 161.8 165.8 168.0

1,257.9 1,269.7 1,261.5 1,261.8 1,260.5 1,270.1 1,273.4 1,274.7
464.2
317.8
146.1
793.7

457.0
308.7
147.9
812.7

465.7
319.4
146.0
795.9

459.6
313.6
145.7
802.3

452.8
303.9
148.5
807.7

460.1
309.4
150.2
810.1

458.8
310.3
148.0
814.7

456.4
311.3
144.8
818.3

-1.6

-4.2

-2.4

-3.8

-2.9

-3,9

-4.6

-4.8

NOTE.-Chained (1992) dollar series are calculated as the p
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive.
The residual line is the difference between the first line and the sum of the most detailed lines.
Percent changes from preceding period for selected items in this table are shown in table 8.1; contributions to
the percent change in real gross domestic product are shown in table 8.2.

D-3

National Data

SURVEY OF CURRENT BUSINESS

March 1998

Table 1.3.—Gross Domestic Product by Major Type of Product

Table 1.4.—Real Gross Domestic Product by Major Type of Product

[Billions of dollars]

[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

1996

1997

III

Gross domestic product
Final sales of domestic
product
Change in business
inventories
Goods
Final sales
Change in business
inventories
Durable goods
Final sales
Change in business
inventories
Nondurable goods
Final sales
Change in business
inventories
,
Services
Structures
Addenda:
Motor vehicle output
Gross domestic product less
motor vehicle output .

1996

1997

1996

IV

1

II

7,610.2 8,012.7 7,638.9 7,761.0 7,867.4 7,953.2 8,075.3 8,154.7
68.3

37.1

31.9

66.1

81.1

48.9

77.0

2,785.2 2,943.7 2,797.8 2,826.9 2,904.6 2,936.0 2,952.1 2,982.3
2,759.3 2,875.4 2,760.7 2,795.0 2,838.4 2,854.9 2,903.2 2,905.2
25.9

68.3

37.1

31.9

66.1

81.1

48.9

77.0

1,228.9 1,315.4 1,249.5 1,232.4 1,279.8 1,322.1 1,323.9 1,335.9
1,212.0 1,283.0 1,216.3 1,233.5 1,248.0 1,275.3 1,305.3 1,303.5
16.9

32.4

33.3

-1.1

31.8

46.8

32.5

18.6

1,556.3 1,628.3 1,548.3 1,594.5 1,624.7 1,613.9 1,628.2 1,646.3
1,547.3 1,592.4 1,544.4 1,561.5 1,590.4 1,579.6 1,597.9 1,601.7
34.4
30.3
44.6
9.0
35.9
3.9
33.0
34.3
4,187.3 4,433.1 4,208.1 4,282.7 4,338.2 4,400.1 4,462.3 4,531.9
663.6 704.1 670.1 683.3 690.8 698.2 709.8 717.6

271.4

284.3

278.7

267.2

281.4

270.4

287.4

298.1

7,364.7 7,796.7 7,397.3 7,525.8 7,652.2 7,764.0 7,836.9 7,933.7

NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.

1996

Gross domestic product
Final sales of domestic
product
Change in business
inventories
Residual .
Goods
Final sales
. ...
Change in business
inventories
Durable goods
Final sales
Change in business
inventories
:
Nondurable goods
Final sales
Change in business
inventories
Services
Structures
Residual
Addenda:
Motor vehicle output
Gross domestic product less
motor vehicle output

1997

IV

III

IV

III

7,636.0 8,081.0 7,676.0 7,792.9 7,933.6 8,034.3 8,124.3 8,231.8

25.9

1997

I

II

III

IV

6,928.4 7,189.6 6,943.8 7,017.4 7,101.6 7,159.6 7,214.0 7,283.3
6,901.0 7,119.2 6,905.0 6,981.7 7,034.1 7,077.7 7,160.3 7,204.5
25.0

2.4

65.7

37.9

.9

4.7

32.9

2.8

63.7

3.8

77.6

47.5

4.3

74.0

6.2

4.8
2,662.6 2,807.2 2,673.1 2,704.1 2,769.3 2,796.7 2,815.4 2,847.6
2,635.5 2,734.5 2,634.0 2,668.4 2,699.6 2,711.8 2,760.7 2,766.0
25.0

65.7

37.9

32.9

63.7

77.6

47.5

74.0

1,222.1 1,324.9 1,244.0 1,228.5 1,277.0 1,327.5 1,338.4 1,356.8
1,205.8 1,293.1 1,211.4 1,230.1 1,245.8 1,281.4 1,320.4 1,324.7
15.9

30.4

31.3

-.9

29.9

43.8

30.7

17.5

1,443.7 1,488.8 1,433.5 1,477.9 1,496.1 1,476.2 1,484.3 1,498.5
1,433.2 1,448.7 1,426.5 1,442.6 1,458.3 1,437.5 1,449.0 1,450.2
6.6
33.8
33.8
9.1
35.2
33.8
30.1
43.3
3,686.6 3,791.0 3,689.0 3,723.9 3,743.9 3,774.4 3,804.8 3,840.8
582.2 598.5 585.0 592.9 595.1 595.7 600.7 602.5
-4.4

-7.3

-6.0

-5.0

-5.2

-7.0

-3.5

-3.9

241.3

252.1

246.8

236.5

247.5

240.6

254.0

266.1

6,687.1 6,937.7 6,696.8 6,781.0 6,854.1 6,919.1 6,960.1 7,017.3

NOTE.-Chained (1992) dollar series are calculated as the p
..„
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive.
The residual line following change in business inventories is the difference between gross domestic product and
the sum of final sales of domestic product and of change in business inventories; the residual line following structures is the difference between gross domestic product and the sum of the detailed lines of goods, of services,
and of structures.
Percent changes from preceding period for selected items in this table are shown in table 8.1

Table 1.5.—Relation of Gross Domestic Product, Gross Domestic
0 Purchases, and Final Sales to Domestic Purchasers

Table 1.6.—Relation of Real Gross Domestic Product, Real Gross
Domestic Purchases, and Real Final Sales to Domestic Purchasers

[Billions of dollars]

[Billions of chained (1992) dollars]

Gross domestic product ...
Less: Exports of goods and
services
Plus: Imports of goods and
services
Equals: Gross domestic

7,636.0 8,081.0 7,676.0 7,792.9 7,933.6
870.9

958.0

863.7

904.6

965.7

1,058.8

977.6

993.2

922.2

8,034.38,124.38,231.8
960.3

965.8

983.8

1,021.0 1,049.0 1,077.1 1,088.0

7,730.9 8,181.8 7,790.0 7,881.5 8,032.4 8,123.1 8,235.6 8,335.9

Less: Change in business
inventories
Equals: Final sales to
domestic purchasers.

25.9

68.3

7,705.0 8,113.4

37.1

7,752.8

31.9

66.1

81.1

7,849.6 7,966.3 8,042.0

48.9

77.0

8,186.6 8,258.9

NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.

Gross domestic product
Less: Exports of goods and
services
Plus: Imports of goods and
services
Equals: Gross domestic
purchases
Less: Change in business
inventories
Equals: Final sales to
domestic purchasers

6,928.4 7,189.6 6,943.8 7,017.4 7,101.6 7,159.6 7,214.0 7,283.3
857.0

963.6

971.5

1,110.0

7,037.7
25.0

7,010.2

851.4

901.1

922.7

7,254.6

996.4

990.2 1,006.6 1,048.9 1,099.1 1,137.1 1,154.9

7,325.3 7,075.3 7,118.4 7,220.9 7,286.9

65.7

973.0

962.5

37.9

32.9

63.7

7,036.4 7,082.7 7,153.1

7,364.6 7,428.7

77.6
7,204.7

47.5

74.0

7,310.9 7,349.7

NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive.
Percent changes from preceding period for selected items in this table are shown in table 8.1.

Table 1.7.—Gross Domestic Product by Sector

Table 1.8.—Real Gross Domestic Product by Sector

[Billions of dollars]

[Billions of chained (1992) dollars]

Gross domestic product 7,636.0 8,081.0 7,676.0 7,792.9
6,401.0 6,795.1 6,434.2 6,543.1
Business1
6,311.66,700.56,341.7 6,450.0
Nonfarm *
5,652.8 6,011.25,677.35,777.1
Nonfarm less housing
Housing
658.8 689.3 664.4 673.0
89.4
Farm
94.6
92.5
93.0
Households and institutions ... 346.0 366.3 347.9 352.0
11.4
11.5
Private households
11.4
11.1
334.6 355.0 336.6 341.0
Nonprofit institutions
2
919.6 893.9 897.8
General government
281.4 285.8 282.1 281.1
Federal
607.6 633.7 611.8 616.7
State and local

7,933.6 8,034.3 8,124.3 8,231.8
6,666.56,755.06,831.86,927.0
6,573.1 6,657.9 6,736.8 6,834.1
5,892.55,971.0 6,044.2 6,137.1
680.6 686.8 692.7 697.0
92.9
93.4 97.1
95.0
357.7 363.6 369.3 374.8
11.6
11.1
11.4
11.3
346.6 352.3 357.9 363.2
909.4 915.8 923.2 929.9
286.2 286.2 286.1 285.0
645.0
623.3J 629.6
637.1:

1. Gross domestic business product equals gross domestic product less gross product of households and institutions and of general government. Nonfarm product equals gross domestic business product less gross farm product.
2. Equals compensation of general government employees plus general government consumption of fixed capital
as shown in table 3.7.




Gross domestic product
Business!
NonfarmJ
Nonfarm less housing
Housing
Farm
Households and institutions ...
Private households
Nonprofit institutions
General government2
Federal
State and local
Residual

6,928.4 7,189.6 6,943.8 7,017.4
5,842.9 6,092.8 5,854.9 5,928.5

7,101.6 7,159.6 7,214.0
6,009.6 6,064.4 6,114.4
5,929.7 5,983.2 6,034.0

7,283.3

6,183.0
5,766.8 6,012.5 5,779.8 5,853.3
6,103.2
5,181.4 5,418.1 5,191.3 5,261.3 5,335.3 5,388.2 5,439.2 5,509.6
585.7 595.3 588.7 592.3 594.9 595.6 595.7 594.8
75.5

79.5

74.6

74.7

79.0

80.4

79.6

79.1

311.2

320.5

312.5

314.4

316.9

319.2

321.7

324.3

10.1

9.6
310.9

9.6
307.4

9.6
309.6

9.7
312.1

777.7

301.1
775.9

779.3

10.0
9.6
302.5 304.8
778.1 776.6

781.1

240.9
535.2

236.0
543.7

241.3
537.0

238.9
537.9

238.2
539.9

778.8
237.1
542.1

9.7
314.6
779.7

236.3
545.2

232.5
547.8

-1.6

-2.1

-2.7

-3.0

-5.8

-4.8

-1.5

1. Gross domestic business product equals gross domestic product less gross product of households and institutions and of general government. Nonfarm product equals gross domestic business product less gross farm product.
2. Equals compensation of general government employees plus general government consumption of fixed capital
as shown in table 3.8.
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive.
The residual line is the difference between the first line and the sum of the most detailed lines.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102