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SURVEY OF CURRENT BUSINESS

December 1979

NATIONAL INCOME AND PRODUCT TABLES
1978
1977

1978

II

III

1978

1979

IV

I

II

III r

1977

1978

II

III

1979

IV

I

II

III r

Seasonally adjusted at annual rates

Seasonally adjusted at annual rates
Billions of current dollars

Billions of 1972 dollars

Table 1.—Gross National 1
Product 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 2,396.5 1,340.5 1,399.2 1,395.2 1,407.3 1,426.6 1,430.6 1,422.3 1,433.3

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 1,528.6

_

861.7

900.8

894.8

905.3

920.3

921.8

915.0

925.9

213.4
604.7
710.6

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

146.9
349.2
429.9

178.8
481.3
649.8

_

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

208.7
581.2
686.0

303.3

Residential
Nonfarm structures
Farm structures
Producers' durable equipment
Change in business inventories
Nonfarm
Farm

.

.

_

.

.

Net exports of goods and services
Exports
Imports

. . _ _

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

_

356.2

370.5

373.8

395.4

392.3

200.1

214.3

216.8

214.0

217.4

217.2

221.7

214.2

326.5

336.1

349.8

354.6

361.9

377.8

186.9

200.2

201.2

201.8

205.5

204.9

203.5

207.1

189.4
62.6
126.8

251.1
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

261.8
95.0
166.7

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

150.7
48.7
101.9

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
1.8

116.0
112.0
2.0

57.7
55.5
.9
1.3

60.1
57.7
1.0
1.4

60.9
58.6
.8
1.5

60.2
57.7
1.0

60.0
57.6
1.0

57.7
55.6
.8

56.7
54.4
.9

56.5
54.0
1.0

21.9
20.7
1.2

22.3
21.3
1.1

25.8
25.3
.5

20.0
18.5
1.6

20.6
19.3
1.3

19.1
18.8
.3

33.4
32.6
.8

14.5
12.6
1.9

13.1
13.3
-.1

14.1
13.7
.3

15.6
15.5
0

12.2
11.6
.6

12.0
11.5
.5

12.3
12.1
.2

18.1
17.7
.4

7.1
6.1
1.0

-9.9

Nonresidential>
Structures
Producers' durable equipment

352.3

329.1

91.9
88.8
1.5
1.6

Fixed investment

351.5

281.3

Gross private domestic investment

-10.3

-7.6

-6.8

-4.5

4.0

-8.1

-2.3

10.3

11.0

12.3

13.3

12.9

17.0

13.2

20.1

175.9
185.8

207.2
217.5

205.7
213.3

213.8
220.6

224.9
229.4

238.5
234.4

243.7
251.9

267.3
269.5

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

122.2
102.1

396.2

435.6

428.3

440.9

453.8

460.1

466.6

477.8

268.5

273.2

271.3

274.7

276.0

274.7

272.4

273.1

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

162.9
109.0
53.9
314.9

100.6

98.6

96.6

98.5

99.3

101.1

98.1

97.4

167.9

174.6

174.7

176.2

176.6

173.6

174.3

175.6

Table 2.—-Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
1,899.5 2,127.6 2,104.2 2,159.6 2,235.2 2,292.1 2,329.8 2,396.5 1,340.5 1,399.2 1,395.2 1,407.3 1,426.6 1,430.6 1,422.3 1,433.3

Gross national product.
Final sales
Change in business inventories-

1,877.6 2,105.2 2,078.4 2,139.5 2,214.5 2,272.9 2, 296.4 2,381.9 1,327.4 1,385.1 1,379.6 1,395.1 1,414.6 1,418.4 1,404.1 1,426.2
33.4
12.3
12.2
20.6
13.1
14.1
15.6
12.0
7.1
19.1
18.1
22.3
25.8
20.0
14.5
21.9
842.2

930.0

922.5

940.9

983.8 1,011.8 1,018.1 1,036.0

615.6

639.5

637.2

641.8

657.3

647.3

651.3

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 1,021.5
33.4
14.5

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

644.2
7.1

345.9
333.9
11.9

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

424.4
417.1
7.3

256.5
248.6
8.0

270.0
261.4
8.6

270.8
262.8
7.9

263.6
6.3

279.1
270.6
8.5

286.0
275.2
10.8

278.3
265.1
13.2

276.6
272.9
3.7

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

581.6
574.3
7.2

586.2
585.5
.7

595.7
586.6
9.1

611.6
604.4
7.2

359.1
353.9
5.2

369.4
364.0
5.5

366.5
358.8
7.6

372.0
366.0
5.9

378.2
374.7
3.5

372.6
371.2
1.4

369.0

364.1
4.9

374.7
371.3
3.4

866.4
190.9

969.3
228.2

956.2
225.6

981.7 1,005.3 1,041.4 1,064. 2 1,100.6
237.0
246.0
247.5
259.8
238.9

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
130.0

Goods. .

Services. ...
Structures.

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

1,881.7 2,107.0 2,083.2 2,138.9 2,213.9 2,267.9 2,306.1 2,369.5 1,332.9 1,391.1 1,386.8 1,399.2 1,418.4 1,421.7 1,414. 2
1,609.0 1,807.8 1,787.5 1,837.6 1,904.9 1,951.4 1,984.5 2,042.0 1,143.7 1,197.5 1,193.6 1,205.1 1,223.9 1,226.9 1,219.0
1,552.2 1,745.0 1,725.8 1,774.8 1,837.5 1,880.8 1,915.2 1,964.8 1,100.7 1,160.0 1,156.2 1,169.1 1,188.0 1,193.1 1,184.7
1,404.5 1,579.2 1,562.3 1,607.1 1,664.7 1,702.3 1,731. 0 1,773.4 986.0 1,039.6 1,036.5 1,048.2 1,065.8 1,068.6 1,058.2
184.2
165.8
126.5
122.3
124.5
120.4
121.0
114.7
163.5
178.6
119.8
167.7
172.9
147.7
191.4
70.6
59.5
33.2
33.4
35.1
34.2
34.4
33.6
59.4
70.0
34.2
58.9
63.3
49.2
68.9
-1.3
3.3
2.3
.6
3.9
4.1
7.5
8.3
.4
3.2
3.4
2.4
2.7
8.7

1,425.3
1,229.3
1,189.4
1,061.0
128.4
34.9
5.0

68.9

62.6

70.3

72.1

74.8

75.8

77.9

42.2

43.6

43.4

43.9

44.1

44.4

44.7

45.4

Rest of the world.

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

249.6
76.3
173.3

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
101.5

17.8

Government
Federal
State and local.

* Revised.

1,899.5 2,127.6 2,104.2 2,159.6 2,235.2 2,292.1 2,329.8 2,396.5 1,340.5 1,399.2 1,395.2 1,407.3 1,426.6 1,430.6 1,422.3 1,433.3

20.5

21.0

20.7

21.2

24.2

23.7

26.9

7.6

8.1

8.4

8.1

8.1

8.9

8.1

8.0

See footnotes on p. 8.

HISTORICAL STATISTICS
The national income and product data for 1929-72 are in The
National Income and Product Accounts of the United States, 1929-74:
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