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SURVEY OF CUKRENT BUSINESS

November 1979

NATIONAL INCOME AND PRODUCT TABLES
1978
1977

1978

II

III

1979
IV

I

II

1978
IIIr

1977

1978

II

III

Seasonally adjusted at annual rates

1979
IV

I

III'

II

Seasonally adjusted at annual rates
Billions of 1972 dollars

Billions of current dollars

Table 1 .—Gross National *roduct in Current and Constant Dollars (1. 1, 1.2)
1,899.5 2,127.6 2,104.2 2,159.6 2,235.2 2,292.1 2,329. 8 2,395.4 1,340.5 1,399.2 1,395.2 1,407.3 1,426.6 1,430.6 1,422. 3 1,434.4

Gross national product.
Personal consumption expenditures
Durable goods
Nondurable goods
Services

_

1,210.0 1,350.8 1,331.2 1,369.3 1,415.4 1,454.2 1, 475. 9 1,527.7
178.8
481.3
549.8

200.3
530.6
619.8

200.3
521.8
609.1

203 5
536.7
629.1

212 1
558.1
645.1

213.8
571.1
669.3

861.7

900.8

894.8

905.3

920.3

921.8

915.0

925.9

208.7
581.2
686.0

212.5
604.1
711.2

138.2
332.7
390.8

146.7
343.3
410.8

147.8
339.4
407.6

147.5
344.7
413.1

152.1
351.9
416.3

150.2
348.1
423.5

144.8
344.1
426.1

146.3
349.0
430.6

303.3

351.5

352.3

356.2

370.5

373.8

395.4

393.7

200.1

214.3

216.8

214.0

217.4

217.2

221.7

215.5

281 3

329 1

326 5

336 1

349 8

354 6

361.9

378.4

186 9

200.2

201.2

201.8

205.5

204.9

203.5

207.6

Nonresidential__
Structures
Producers' durable equipment

189.4
62 6
126.8

221.1
76 5
144.6

218.8
75 2
143.6

225.9
79 7
146.3

236.1
84 4
151.8

243.4
84 9
158.5

249.1
90.5
158.6

262.0
95.1
166.9

129.3
39 1
90.1

140.1
43 9
96.2

140.3
43.9
96.4

141.6
45.1
96.5

145.5
46.5
98.9

147.2
45.8
101.3

146.9
47.9
99.0

151.0
48.7
102.3

Residential
. .
Nonfarm structures
Farm structures
Producers' durable equipment

91.9
88.8

108.0
104.4
1 8
1.9

107.7
104.3
1 4
2.0

110.2
106.4
1 9
1.9

113.7
110.0
1 9
1.9

111.2
107.8
1 5
1.9

112.9
109.1

116.4
112.3

57.7
55.5

60.9
58.6

60.2
57.7

60.0
57.6

57.7
55.6

56.7
54.4

2.1

.9

.8

1.0

1.4

.8

1.5

1.4

1.0

.9

56.6
54.1

1.8

1.4

1.4

22.3
21.3
1 l

25.8
25.3

20.0
18 5

20.6
19.3

19.1
18 8

15.6
15.5

12.2
11.6

12.0
11.5

12.3
12.1

18.1
17.7

1.2

1.6

1.3

.6

.5

.2

-9.9

-10.3

Gross private domestic investment
Fixed investment

Change in business inventories
Nonfarm _.
Farm

1.5

1.6
21.9
20.7

.5

.3

2 0

1.3

60.1
57.7
1 0
1.4

33.4
32.6

15.3
13.4

.8

13.1
13.3

14.1
13.7

1.9

2.0

-.1

.3

0

1.0
1.4
7.9
6.9
1.0

.4

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

-7.6

-6.8

-4.5

4.0

-8.1

-3.5

10.3

11.0

12.3

13.3

12.9

17.0

13.2

19.7

175 9
185.8

Net exports of goods and services

207 2
217.5

205 7
213.3

213 8
220.6

224 9
229.4

238 5
234.4

243.7
251.9

266.8
270.3

98 4
88.2

108.9
97.9

109.2
96.9

111.9
98.5

113.8
101.0

117.0
100.0

116.0
102.9

122.1
102.4

396.2

435.6

428.3

440.9

453.8

460.1

466.6

477.5

268.5

273.2

271.3

274.7

276.0

274.7

272.4

273.3

101.1

98.1

97.8

173.6

174. 3

175.6

144.4
93 7
50.6
251.8

152 6
99 0
53 6
283.0

148.2
98 2
50 0
280.1

152 3
99 0
53 3
288.6

159 0
101 2
57 8
294.8

163.6
103 4
60.2
296.5

161 7
106 0
55 7
304.9

162.7
109 0
53 7
314.8

100.6

98.6

96.6

98.5

99.3

167.9

174.6

174.7

176.2

176.6

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
Gross national product.

1,899.5 2,127.6 2,104.2 2,159.6 2,235.2 2,292.1 2,329. 8 2,395.4 1,340.5 1,399.2 1,395.2 1,407.3 1,426.6 1,430.6 1, 422. 3 1,434.4

Final sales
Change in business inventories.
Goods.

1,877.6 2,105.. 2 2,078.4 2,139. 5 2,214.5 2,272.9 2,296. 4 2,380.1 1,327.4 1,385.1 1,379. 6 1,395.1 1,414. 6 1,418.4 1,404.1 1,426. 5
7.9
12.3
18.1
12.2
15.6
12.0
33.4
13.1
14.1
15.3
22.3
20.6
19.1
21.9
25.8
20.0
842.2

930.0

922.5

940.9

983.8 1,011.8 1,018.1 1,035.9

615.6

639.5

637.2

641.8

657.3

658.6

647.3

652.2

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

820.2
21.9

907.7
22.3

896.7
25.8

920.8
20.0

963.2
20.6

992.7
19.1

984.6 1,020. 6
33.4
15.3

602.4
13.1

625.4
14.1

621.6
15.6

629.6
12.2

645.3
12.0

646.3
12.3

629.1
18.1

644.3
7.9

345.9
333.9

380.4
366.5
13.9

378.0
364.9
13.1

382.6
372.3
10.3

402.3
388.9
13.4

425.5
407.1
18.4

422.4
398.0
24.3

425.7
417.0
8.7

256.5
248.6
8.0

270.0
261.4
8.6

270.8
262.8
7.9

269.9
263.6
6.3

286.0
275.2
10.8

265.1
13.2

277.6
273.0
4.7

Nondurable goods
Final sales
Change in business inventories.

496.3
486.3
10.0

549.6

541.2
8.4

544.5
531.8
12.7

558.3
548.6
9.7

359.1
353.9
5.2

369.4
364.0
5.5

366.5
358.8
7.6

372.0
366.0
5.9

372.6
371.2
1.4

369.0
364.1
4.9

374.6
371.4
3.2

866.4
190.9

969.3
228.2

956.2
225.6

610.2
586.2
581.6
595.7
603.6
574.3 585.5
586.6
.7
9.1
7.2
981.7 1,005.3 1,041.4 1,064. 2 1,099.3
237.0
260.2
246.0
247.5
238.9

279.1
270.6
8.5
378.2
374.7
3.5

604.4
120.5

630.3
129.5

627.9
130.1

633.1
132.4

636.0
133.3

645.2
126.8

647.3
127.7

652.0
130.2

Services
Structures.

11.9

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product..
Gross domestic product
Business.
Nonfarm
Nonfarm less housing..
Housing
Farm
Statistical discrepancy...
Residual i . . .

1,609. 0
1,552.2
,404.5
147.7
49.2
7.5

807.8 1,787.5 1,837. 6 1,904.9 1,951.4 1,984.5 2,042. 6 1,143.7 1,197.5 1,193.6 1,205.1 1,223.9 1,226.9 1,219.0 1,231.0
745.0 1,725.8 1,774.8 1,837.5 1,880.8 1,915. 2 1,965.7 1,100.7 1,160.0 1,156. 2 1,169.1 1,188.0 1,193.1 1,184. 7 1,191. 3
579.2 1,562.3 1,607.1 1,664.7 1,702. 3 1,731.0 1,774. 2 986.0 1,039. 6 1,036. 5 1,048. 2 1,065.8 1,068. 6 1,058. 2 1,062.9
124.5
184.2
126.5
128.4
122.3
165.8
121.0
119.8
114.7
120.4
167.7
172.9
178.6
163.5
191.5
33.4
70.6
33.2
35.1
34.9
59.5
33.6
34.4
34.2
34.2
58.9
63.3
70.0
59.4
68.9
-1.3
3.3
3.9
4.1
2.3
7.9
4.8
.4
2.4
3.2
2.7
3.4
8.7

Government
_
Federal
State and local.
Rest of the world.

62.6

69.6

68.9

70.3

72.1

74.8

75.8

78.0

42.2

43.6

43.4

43.9

44.1

44.4

44.7

45.4

210.1
66.4
143.7

229.6
71.8
157.8

226.8
70.7
156.1

231.0
71.5
159.4

237.0
74.8
162.2

241.8
75.5
166.3

245.8
75.8
170.0

249.7
76.3
173.4

147.0
48.7
98.4

149.9
49.1
100.8

149.8
49.0
100.8

150.2
49.2
100.9

150.4
49.3
101.1

150.4
49.2
101.2

150. 5
49.1
101.4

150.6
49.2
101.4

17.8

Households and institutions.

' Revised.

1,899.5 2,127.6 2,104.2 2,159.6 2,235.2 2,292.1 2,329.8 2,395.4 1,340.5 1,399.2 1,395.2 1, 407.3 1,426.6 1,430.6 1,422.3 1,434.4
1,881.7 2,107.0 2,083.2 2,138.9 2,213.9 2,267.9 2, 306.1 2,370.2 1,332.9 1,391.1 1,386.8 1,399.2 1,418. 4 1, 421.7 1,414.2 1,427.1

20.5

21.0

20.7

21.2

24.2

23.7

25.2

7.6

8.1

8.4

8.1

8.1

8.9

8.1

7.4

See footnotes on p. 6.

HISTORICAL STATISTICS
The national income and product data for 1929-72 are in The
National Income and Product Accounts of the United States, 1929-7'4:
Statistical Tables (available for $4.95, SN 003-010-00052-9, from
Commerce Department District Offices or the Superintendent of




Documents; see addresses inside front cover). Data for 1973, 1974,
1975, and 1975-78 are in the July 1976, 1977, 1978, and 1979
issues of the SURVEY, respectively.

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