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SURVEY OF CURRENT BUSINESS

April 1985

National Income and Product Accounts Tables
New estimates in this issue: First quarter 1985, preliminary; for corporate profits and related items, fourth quarter and annual 1984, revisions. Corrections for 1984 annual fixed-weighted price index appear in table 7.2; corrections for 1984 annual percent change for fixed-weighted
and chain price index appear in table 8.1; these corrections apply to the GNP and some of the GNP components.
The abbreviations used in the tables are: CCAdj Capital consumption adjustment
IVA
Inventory valuation adjustment
NIPA's National income and product accounts
Preliminary
Revised
The NIPA estimates for 1929-76 are in The National Income and Product Accounts of the United States, 1929-76: Statistical Tables (Stock
No. 003-010-00101-1, price $10.00). Estimates for 1977-79 and corrections for earlier years are in the July 1982 SURVEY; estimates for 1980 and
corrections for earlier years are in the July 1983 SURVEY; estimates for 1981-83 and corrections for earlier years are in the July 1984 SURVEY.
Summary NIPA Series, 1952-83, are in the August 1984 SURVEY. These publications are available from the Superintendent of Documents and
Commerce Department District Offices; see addresses inside front cover.
Table 1.1-1.2.—Gross National Product in Current and Constant Dollars
Billions of 1972 dollars

Billions of dollars

Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

1983

1984

IV

Gross national product

I

II

1985
III

IV

1983

1984

I

IV

I"

Durable goods
Nondurable goods
Services

1,534.7

2,155.9

1,009.2 1,062.4 1,032.4

2,341.8

2,230.2 2,276.5 2,332.7 2,361.4 2,396.5 2,442.8

279.8
318.8
299.8
801.7
856.9
823.0
1,074.4 1,166.1 1,107.5

Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
... .
Nonfarm structures
Farm structures
Producers' durable equipment
Change in business inventories
Nonfarm
Farm
Net exports of goods and services

326.3
333.1
866.5
877.9
1,203.8 1,231,8

1,639.3 1,572.7

1,610.9

III

II

IV

I"

1,638.8

1,645.2

1,662.4

1,668.0

1,044.1 1,064.2

1,065.9

1,075.4

1,087.9

182.9
395.0
497.5

186.0
399.1
502.9

157.5
376.3
475.4

178.0
393.5
490.8

167.2
383.2
482.0

173.7
387.1
483.4

178.6
396.6
488.9

177.0
395.5
493.5

471.6

637.8

540.0

623.8

627.0

662.8

637.8

657.4

221.0

289.9

249.5

285.5

283.9

300.2

289.9

295.5

485.1
325.9
129.7
223.2
132.2
127.6
1.0
3.6
135
-3.1
104

579.6
425.7
150.4
275.3
153.9
148.8
1.1
4.0
58.2
49.6
8.6

527.3
383.9
136.6
247.3
143.4
138.7
.9
3.8
12.7
14.1
14

550.0
389.8
142.2
256.7
151.2
146.4
.9
3.9
73.8
60.6
13.2

576.4
402.8
150.0
270.7
155.6
150.5
1.0
4.1
50.6
47.0
3.5

591.0
435.7
151.4
284.2
155.3
150.1
1.2
4.0
71.8
63.7
8.1

601.1
447.7
157.9
289.7
153.5
148.3
1.0
4.1
36.6
27.2
9.4

610.8
455.9
164.5
291.4
155.0
149.7
1.0
4.2
46.6
40.5
6.2

224.6
171.0
49.2
121.8
53.7
51.2
.4
2.1
36
.6
42

265.1
204.9
56.9
148.0
60.2
57.5
.4
2.3
24.8
20.9
4.0

242.2
184.5
51.4
133.1
57.8
55.2
.4
2.2
7.2
7.0
.2

253.9
193.3
54.1
139.2
60.6
58.0
.4
2.2
31.6
26.2
5.4

263.7
202.9
56.8
146.0
60.8
58.1
.4
2.3
20.3
18.7
1.6

269.6
209.5
57.1
152.4
60.1
57.3
.5
2.3
30.6
26.5
4.1

273.1
213.8
59.4
154.4
59.2
56.5
.4
2.4
16.8
12.0
4.8

274.8
215.6
61.7
154.0
59.1
56.3
.4
2.4
20.7
17.8
3.0

83

....

Government purchases of goods and services
Federal
National defense ..
Nondefense
State and local

320.7
317.2
310.9
858.3
861.4
841.3
1,124,4 1,153.7 1,182.8

1985

1984

1983

3,304.8 3,662.8 3,431.7 3,553.3 3,644.7 3,694.6 3,758.7 3,819.9

Personal consumption expenditures ..

Exports
Imports

1984

1983

...

64 2

29 8

51 5

58 7

90 6

56 0

2.0

-8.3

-27.0

-13.4

336.2
344.4

364.3
428.5

346.1
375.9

358.9
410.4

362.4
421.1

368.6
459.3

367.2
423.2

361.4
434.4

139.5
126.9

146.0
161.1

141.0
139.1

144.9
153.2

144.7
156.2

147.4
174.4

147.1
160.5

144.0
170.1

685.5

747.4

691.4

704.4

743.7

761.0

780.5

792.6

291.9

302.1

288.8

289.5

302.1

306.1

310.5

310.6

269.7
200.5
69.3
415.8

295.4
221.5
73.9
452.0

266.3
207.2
59.1
425.1

267.6
213.4
54.2
436.8

296.4
220.8
75.6
447.4

302.0
220.3
81.7
458.9

315.7
231.6
84.1
464.8

320.2
234.5
85.7
472.5

116.2
84.7
31.5
175.7

122.5
89.6
32.9
179.6

113.0
86.3
26.7
175.8

112.2
87.1
25.2
• 177.3

123.2
89.6
33.6
178.9

125.0
89.1
36.0
181.1

129.6
92.7
36.8
180.9

129.3
92.2
37.1
181.3

-73.0

12.6

-15.0

11 4

-26.1

Table 1.3-1.4.—Gross National Product by Major Type of Product in Current and Constant Dollars
Billions of 1972 dollars

Billions of dollars

Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

1983

1984

IV

Gross national product
Final sales
Change in business inventories..
Goods

III

IV

1984

I"

IV

1,639.3 1,572.7

1,534.7

3,722.1 3,773.3
36.6
46.6

1,538.3 1,614.5 1,565.4
-3.6
24.8
7.2

1,543.0

1,484.8 1,411.2
58.2
12.7

1,423.9

Durable goods
Final sales
Change in business inventories
Nondurable goods
Final sales
Change in business inventories

555.3
557.5
-2.1
800.4
811.7
-11.3

1,498.0

1,544.8

1,549.2

1,424.2 1,494.2 1,477.4
50.6
71.8
73.8

I

II

III

IV

\p

1,610.9

1,638.8

1,645.2

1,662.4

1,668.0

1,579.3 1,618.5 1,614.6
30.6
20.3
31.6

1,645.6
16.8

1,647.3
20.7

1,579.8 1,590.9

688.6

764.5

715.5

744.9

767.4

766.8

778.8

776.4

1,543.2
36.6

1,544.3.
46.6

692.2
-3.6

739.6
24.8

708.2
7.2

713.3
31.6

747.1
20.3

736.1
30.6

762.0
16.8

755.7
20.7

632.3
597.5
34.9
865.7
826.8
38.9

647.9
629.7
18.2
896.9
864.6
32.4

654.7
613.1
41.7
894.4
864.3
30.1

687.7
661.0
26.7
892.1
882.2
9.9

673.9
647.8
26.1
917.0
896.5
20.5

295.6
296.1
-.5
392.9
396.1
32

341.6
328.4
13.2
422.9
411.2
11.7

318.6
311.9
6.6
396.9
396.3
.6

331.1
316.4
14.7
413.8
396.9
16.9

339.5
331.4
8.1
427.9
415.7
12.2

340.2
322.4
17.8
426.5
413.7
12.8

355.4
343.4
12.0
423.5
418.6
4.8

346.3
334.7
11.6
430.1
421.0
9.1

1,639.3 1,763.3 1,681.3 1,713.7
356.5
326.5
341.6
309.8

1,742.6
357.2

1,783.3
362.1

1,813.7
365.2

1,856.4
372.5

723.2
122.9

736.7
138.1

728.7
128.5

731.4
134.6

732.9
138.5

739.0
139.4

743.6
140.0

750.0
141.5

655.7
625.3
30.4
887.3
859.5
27.8

607.4
592.9
14.5
816.5
818.3
-1.7

3,313.1 3,727.0 3,461.5 3,604.8 3,703.4 3,785.2
3,326.5 3,668.8 3,448.8 3,531.0 3,652.8 3,713.4

3,814.8 3,892.9
3,778.1 3,846.3

1,522.1 1,654.4 1,570.7
1,525.7 1,629.5 1,563.4

1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports.




1985

1984

1983

3,758.7 3,819.9

1,369.2
-13.5

Addenda:
Gross domestic purchases *
Final sales to domestic purchasers1

II

1983

3,318.3 3,604.6 3,419.0 3,479.5 3,594.1 3,622.8
58.2
73.8
50.6
71.8
-13.5
12.7
1,355.7

.

I

1985

3,304.8 3,662.8 3,431.7 3,553.3 3,644.7 3,694.6

Final sales
Change in business inventories

Services
Structures

1984

1983

1,619.2
1,587.6

1,650.2 1,672.2 1,675.8 1,694.1
1,629.9 1,641.6 1,659.0 1,673.3

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