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59

SURVEY OF CURRENT BUSINESS

March 1986

1. National Product and Income
Table 1.1.—Gross National Product
[Billions of dollars]
Seasonally adjusted at annual rates
Line

1982

1983

1984

1985

1982

I
Gross national product.... 1

II

III

IV

I

III

II

1985

1984

1983

IV

I

III

II

IV

I

III

II

IV

3,166.0 3,401.6 3,774.7 3,988.5 3,112.6 3,159.5 3,179.4 3,212.5 3,268.7 3,365.1 3,437.5 3,535.0 3,676.5 3,757.5 3,812.2 3,852.5 3,917.5 3,960.6 4,016.9 4,059.3

Personal consumption
expenditures.

2

2,050.7 2,229.3 2,423.0 2,582.3 1,996.3 2,023.8 2,065.6 2,117.0 2,146.0 2,210.1 2,254.9 2,306.3 2,358.6 2,414.4 2,439.0 2,480.1 2,525.0 2,563.3 2,606.1 2,634.8

Durable goods
Nondurable goods
Services

3
4
5

252.7 289.6 331.1
361.5
771.0 817.0 872.4 912.2
1,027.0 1,122.7 1,219.6 1,308.6

Gross private domestic
investment.

6

447.3

501.9

674.0

669.3

459.5

467.8

452.2

409.6

425.0

483.7

521.2

577.6

658.8

673.3

687.9

676.2

657.6

672.8

666.1

680.7

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

7
8
9
10

471.8
366.7
143.3
223.4

508.3
356.3
126.1
230.2

607.0
427.9
147.6
280.2

661.8
476.2
170.2
306.0

483.6
382.0
150.3
231.7

472.9
369.2
145.1
224.1

461.2
360.7
140.2
220.5

469.5
354.9
137.6
217.3

467.7
338.0
127.6
210.4

489.2
343.0
121.5
221.5

524.0
357.3
124.7
232.6

552.1
386.8
130.5
256.3

566.7
394.1
135.0
259.1

604.5
423.4
147.0
276.5

619.5
435.9
151.3
284.5

637.2
458.1
157.2
300.9

639.1
459.6
166.1
293.5

657.3
474.2
169.7
304.5

665.9
478.5
170.4
308.1

685.0
492.5
174.5
318.0

11
12

105.1
-24.5

152.0
-6.4

179.1
67.1

101.7
185.6
7.5 -24.1

103.6
-5.0

100.5
-9.0

114.7
-59.9

129.7
-42.7

146.2
-5.5

166.7
-2.8

165.4
25.5

172.6
92.1

181.0
68.9

183.7
68.3

179.1
39.0

179.4
18.5

183.1
15.5

187.4
.2

192.5
-4.3

13
14

23 1
-1.4

.8
-7.1

58.0
9.1

1.8
15.5
-7.3 -18.4

19.4
6.1

71.6
20.5

61.2
7.7

62.8
5.5

36.4
2.6

14.2
4.3

10.8
4.7

Net exports of goods and
services.

15

26.3

-5.3

16
17

361.9
335.6

354.1
359.4

384.6
443.8

18

641.7

675.7

19
20
21
22

272.7
193.8
78.9
369.0

284.8
215.7
69.2
390.9

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

11.8
-4.3

245.1 248.9 252.8 263.8 268.5 285.3 295.3 309.4 321.6 330.2 331.1 341.5 351.5 356.5 376.0 362.0
826.5 837.2 856.6 873.2 876.6 883.1 895.7 910.2 914.5 928.3
758.1 762.6 776.7 786.6 792.4 811.7
993.1 1,012.2 1,036.1 1,066.5 1,085.2 1,113.0 1,133.1 1,159.6 1,180.4 1,211.1 1,231.3 1,255.4 1,277.8 1,296.6 1,315.6 1,344.6

199
-4.3

-9.0 -12.4
-51.1 -33.7
3.3
88
4.0
90

3.1
19.0
-2.9 -23.3

34.7

42.1

14.5

14.1

28.4

-2.6

369.9
448.4

373.0
338.4

378.9
336.8

359.9
345.4

335.9
321.9

344.6
316.2

345.0
347.5

358.0
377.6

368.8
396.2

375.4
412.8

382.3
447.6

391.4
453.3

389.5
461.7

379.6
421.9

369,2
439.5

363.2
451.0

367.8
481.2

736.8

815.4

622.1

625.7

647.1

671.8

669.3

673.8

681.1

678.6

696.5

735.1

747.3

768.4

777.2

794.8

832.5

857.2

312.9
237.0
76.0
423.9

355.4
261.9
93.6
460.0

262.9
182.2
80.7
359.2

259.3
190.3
69.0
366.4

275.3
197.3
78.0
371.8

293.2
205.4
87.7
378.7

287.1
209.4
77.8
382.2

287.0
214.5
72.5
386.9

286.0
215.8
70.2
395.1

279.2
222.9
56.2
399.4

285.6
228.3
57.3
410.9

314.8
235.8
79.0
420.3

318.5
236.2
82.2
428.8

332.9
247.5
85.4
435.5

334.4
249.5
84.9
442.8

337.8
256.0
81.7
457.1

364.8
269.9
95.0
467.7

384.7
272.1
112.6
472.5

III

IV

-59.2

-78.5

-19.7

-27.4

-37.4

-65.3

-61.9

-72.2

-42.3

-70.3

-87.8

-113.4

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

Table 1.2.—Gross National Product in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line

1982

1983

1984

1982

1985

I
Gross national product.... 1
Personal consumption
expenditures.

2

Durable goods
Nondurable goods....
Services

3
4
5

Gross private domestic
investment.

6

II

III

I

IV

II

1985

1984

1983

III

IV

I

II

III

IV

I

II

3,166.0 3,277.7 3,492.0 3,570.0 3,170.4 3,179.9 3,154.5 3,159.3 3,190.6 3,259.3 3,303.4 3,357.2 3,449.4 3,492.6 3,510.4 3,515.6 3,547.8 3,557.4 3,584.1 3,590.8
2,050.7 2,145.9 2,239.9 2,313.0 2,031.2 2,041.0 2,051.8 2,078.7 2,096.4 2,137.2 2,161.8 2,188.1 2,210.9 2,243.0 2,243.4 2,262.0 2,288.6 2,303.5 2,329.6 2,330.4
252.7 283.6 318.6 345.3 247.7 249.1 251.8 262.0 264.9 280.8 288.5 300.0 311.0 317.7 318.0 327.6 335.0 340.3 359.3 346.7
771.0 800.7 828.0 846.9 764.2 768.3 772.8 778.6 787.0 796.8 806.8 812.0 819.4 832.8 831.2 828.6 839.9 846.7 849.8 851.1
1,027.0 1,061.7 1,093.3 1,120.8 1,019.2 1,023.5 1,027.2 1,038.1 1,044.5 1,059.7 1,066.5 1,076.1 1,080.5 1,092.6 1,094.3 1,105.8 1,113.7 1,116.5 1,120.4 1,132.6
447.3 503.4 661.3 649.0 464.2 467.5 448.6 408.8 422.5 489.0 526.3 575.9 649.0 662.9 673.3 659.9 639.6 655.6 645.0 655.7

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

7
8
9
10

471.8
366.7
143.3
223.4

508.9
360.1
129.7
230.5

598.6
430.3
148.7
281.6

643.3
472.0
165.8
306.3

488.2
387.0
151.0
235.9

473.0
369.5
144.7
224.9

458.1
358.0
139.3
218.7

468.1
352.3
138.3
214.1

464.7
337.5
129.3
208.2

492.7
346.9
125.4
221.4

524.9
363.4
128.6
234.7

553.2
392.9
135.4
257.5

565.4
398.8
138.8
260.0

596.8
426.8
148.5
278.3

608.4
437.6
151.6
286.0

623.8
457.8
156.0
301.9

623.8
457.2
163.2
293.9

640.5
470.9
165.3
305.6

646.8
473.7
165.8
307.9

662.0
486.5
168.7
317.8

11
12

105.1
-24.5

148.7
-5.5

168.3
62.7

171.2
5.7

101.2
-24.0

103.4
-5.4

100.1
-9.4

115.8
-59.3

127.2
-42.2

145.8
-3.7

161.6
1.4

160.4
22.6

166.6
83.6

170.0
66.0

170.8
64.9

166.0
36.1

166.7
15.8

169.6
15.1

173.1
-1.8

175.5
-6.3

13
14

-23.1
-1.4

.4
-5.8

55.9
6.8

10.6
-4.8

199
-4.1

-9.5
4.0

127
3.2

504
-8.9

338
-8.5

1.7
-5.3

14.6
13 2

18.9
3.7

68.8
14.8

59.7
6.3

60.4
4.5

Net exports of goods and
services.

15

-108.4

40.4

41.7

11.7

11.7

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

26.3 -19.4

-85.0

22.5 -15.0

-48.9

-60.6

-90.4

-88.7

10.7
11.8
34.6
18.2
1.6
4.0
4.5 -3.4 -24.5
1.5
-100.2 -71.8 -101.1 -119.8 -140.8

16
17

361.9
335.6

349.4
368.8

370.9
455.9

359.9
468.3

374.1
333.7

378.5
336.8

359.5
347.8

336.0
324.3

342.8
320.3

342.4
357.4

353.1
389.3

359.1
408.0

362.7
423.3

366.6
457.0

376.9
465.6

377.3
477.5

368.7
440.5

358.2
459.3

353.5
473.3

359.2
500.0

18

641.7

647.8

675.9

716.4

634.6

629.7

642.5

660.1

649.1

648.2

651.5

642.2

650.1

677.1

682.4

693.9

691.4

699.4

729.2

745.5

19
20
21
22

272.7
193.8
78.9
369.0

275.5
207.3
68.3
372.2

292.5
220.3
72.3
383.3

322.6
235.7
86.9
393.8

267.0
185.4
81.6
367.7

260.5
191.6
68.9
369.2

273.8
197.0
76.9
368.6

289.5
201.4
88.2
370.6

279.2
203.8
75.4
369.9

277.6
206.9
70.6
370.6

277.4
206.5
70.9
374.1

267.9
211.8
56.1
374.3

271.4
214.1
57.3
378.6

294.8
219.6
75.2
382.4

296.7
219.6
77.1
385.7

307.3
227.9
79.5
386.6

304.3
226.7
77.6
387.1

305.9
231.5
74.3
393.6

331.1
243.3
87.9
398.1

349.0
241.3
107.7
396.5

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




-36.2

60

SURVEY OF CURRENT BUSINESS

March 1986

Table 1.3.—Gross National Product by Major Type of Product
[Billions of dollars]
Seasonally adjusted at annual rates
Line

1982

1983

1984

1985

1982
I

Gross national product....
Final sales
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

II

III

IV

I

1985

1984

1983
II

III

IV

I

II

III

IV

I

II

III

IV

1
2
3

3,166.0 3,401.6 3,774.7 3,988.5 3,112.6 3,159.5 3,179.4 3,212.5 3,268.7 3,365.1 3,437.5 3,535.0 3,676.5 3,757.5 3,812.2 3,852.5 3,917.5 3,960.6 4,016.9 4,059.3
3,190.5 3,408.0 3,707.6 3,981.1 3,136.7 3,164.5 3,188.4 3,272.4 3,311.4 3,370.6 3,440.3 3,509.5 3,584.4 3,688.7 3,743.9 3,813.5 3,899.0 3,945.0 4,016.7 4,063.6
.2 -4.3
39.0
18.5
15.5
-24.5
-6.4
67.1
-5.0
-9.0 -59.9 -42.7
68.9
68.3
7.5 -24.1
-5.5
-2.8
25.5
92.1

4
5
6

1,319.1 1,394.7 1,585.8 1,639.3 1,310.7 1,329.9 1,326.2 1,309.8 1,328.4 1,385.0 1,399.9 1,465.3 1,558.1 1,585.4 1,595.8 1,604.0 1,628.4 1,636.0 1,650.8 1,642.2
1,343.7 1,401.1 1,518.8 1,631.9 1,334.8 1,335.0 1,335.2 1,369.7 1,371.1 1,390.5 1,402.7 1,439.8 1,466.0 1,516.5 1,527.5 1,565.0 1,609.8 1,620.5 1,650.6 1,646.5
15.5
.2 -4.3
-5.0
-9.0 -59.9 -42.7
92.1
68.9
68.3
39.0
18.5
-24.5
-6.4
67.1
7.5 -24.1
-5.5
-2.8
25.5

7
8
9

526.1
542.9
-16.8

572.3
573.2
-.9

679.5
642.5
37.0

709.2 523.1
702.8 537.7
6.4 -14.6

535.4
539.5
-4.1

536.9 509.1 513.6
542.6 551.8 542.4
-5.7 -42.7 -28.9

565.5
566.3
-.9

589.3
576.4
12.9

620.8
607.4
13.5

661.7
618.5
43.2

673.7
637.6
36.1

680.9
641.4
39.4

701.9
672.6
29.3

706.2
689.4
16.9

705.9
704.0
1.8

714.8
721.2
-6.4

10
11
12

793.0
800.8
-7.7

822.4
827.9
-5.5

906.3
876.2
30.1

930.1
929.0
1.1

787.6
797.1
-9.5

794.5
795.5
-.9

789.4 800.6 814.9
792.7 817.9 828.7
-3.3 -17.2 -13.9

819.5 810.6
824.2 826.3
-4.7 -15.7

844.5
832.4
12.1

896.4
847.4
48.9

911.7
878.9
32.8

915.0
886.1
28.9

902.2
892.5
9.7

922.1
920.5
1.6

930.2
916.5
13.7

935.9 932.2
929.4 949.8
6.6 -17.7

13
14

710.0
696.7
13.4

1,547.5 1,678.0 1,806.6 1,930.5 1,499.1 1,530.3 1,561.6 1,598.9 1,632.2 1,662.5 1,693.3 1,724.1 1,757.9 1,789.2 1,823.8 1,855.6 1,887.6 1,908.2 1,939.9 1,986.4
299.4 328.9 382.2 418.7 302.8 299.3 291.6 303.9 308.0 317.6 344.3 345.6 360.5 383.0 392.6 392.9 401.5 416.3 426.2 430.6

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

Table 1.4.—Gross National Product by Major Type of Product in Constant Dollars
[Billions of 1982 dollars]
Se asonalljr adjuste d at anilual rates

Line

1982

1983

1984

1985

1982
I

Gross national product....
Final sales
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

III

II

I

IV

II

1985

19 84

19 83
III

IV

I

II

III

IV

I

IV

III

II

1
2
3

3,166.0 3,277.7 3,492.0 3,570.0 3,170.4 3,179.9 3,154.5 3,159.3 3,190.6 3,259.3 3,303.4 3,357.2 3,449.4 3,492.6 3,510.4 3,515.6 3,547.8 3,557.4 3,584.1 3,590.8
3 1905 3283 1 34293 35643 31944 3 1853 3 1640 32186 32328 32630 3 302 1 3 334 6 3 3657 34266 34455 34795 35320 35423 3 585 8 3597 1
5.7 -24.0
62.7
-5.5
-24.5
-9.4 -59.3 -42.2
-5.4
-3.7
-6.3
15.1 -1.8
15.8
36.1
66.0
22.6
1.4
64.9
83.6

4
5
6

1,319.1 1,364.4 1 5064 1 5324 1 3277 13350 13160 1 2979 13146 1 3588 1 370 11 414 3 1 489 0 1 511 6 1 5144 1 5105 1 5303 1 531 5 1 541 0 1 526 8
13437 13699 14437 15267 13517 13405 13254 1 357 113568 13625 13687 1391 6 1 4054 14455 14495 1 4744 1 5146 15163 15427 15331
5.7 -24.0
-24.5
-5.4
62.7
-5.5
-9.4 -59.3 —42.2 -3.7
1.4
15.1 -1.8
36.1
64.9
66.0
83.6
22.6
-6.3
15.8

7
8
9

5261
542.9
-16.8

5618
562.9
-1.1

6554
619.9
35.5

6765 5337
670.8 548.5
5.8 -14.8

5375
541.6
-4.1

5318 5014 5050
537.7 543.8 533.5
-5.9 -42.4 -28.4

5576
5586
-1.0

5793
5672
12.1

6051
5922
13.0

6419
6005
41.4

651 6
6166
35.0

6554
6176
37.9

6726
6448
27.9

673 1
6572
15.8

6742
6726
1.6

6803
6864
-6.1

10
11
12

793.0
8008
-7.7

802.7
807 1
-4.4

851.0
8239
27.1

855.9
8559
0

794.0
8032
-9.2

797.5
7988
-1.3

784.1 796.5 809.5
7877 8134 8233
-3.6 -16.9 -13.8

801.2 790.8
8039 8015
-2.7 -10.7

8091
7994
9.7

847 1
8049
42.2

8600
8290
31.0

8590
8320
27.0

8379
8296
8.2

8573
8573
-.1

8573
8438
13.5

8607 8483
8563 8663
4.4 -18.0

13
14

6786
6668
11.8

1,547.5 1,584.4 1,615.4 1,644.2 1,539.9 1,546.2 1,548.3 1,555.5 1,569.1 1,579.5 1,590.9 1,598.0 1,603.2 1,609.6 1,618.7 1 6301 1 6360 1 633 9 1 643 4 1 663 5
299.4 328.8 370.2 393.4 302.8 298.6 290.3 305.9 306.9 321.0 342.5 345.0 357.1 371.5 377.2 375.0 3815 3920 3997 4005

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

Table 1.5.—Relation of Gross National Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers
[Billions of dollars]
Seasonally adjusted at annual rates
Line

1982

1983

1984

1982

1985
I

Gross national product
Less: Exports of goods and
services.
Plus: Imports of goods and
services.
Equals: Gross domestic
purchases 1.
Less: Change in business
inventories.
Equals: Final sales to 2
domestic purchasers .

1
2
3
4
5
6

II

III

I

IV

III

IV

I

II

III

IV

I

II

IV

III

3,166.0 3,401.6 3,774.7 3,988.5 3,112.6 3,159.5 3,179.4 3,212.5 3,268.7 3,365.1 3,437.5 3,535.0 3,676.5 3,757.5 3,812.2 3,852.5 3,917.5 3,960.6 4,016.9 4,059.3
361.9 354.1 384.6 369.9 373.0 378.9 359.9 335.9 344.6 345.0 358.0 368.8 375.4 382.3 391.4 389.5 379.6 369.2 363.2 367.8
335.6

359.4

443.8

448.4

338.4

336.8

345.4

321.9

316.2

347.5

377.6

396.2

412.8

447.6

453.3

461.7

421.9

439.5

451.0

481.2

3,139.7 3,406.9 3,833.9 4,067.0 3,077.9 3,117.3 3,164.9 3,198.5 3,240.2 3,367.6 3,457.1 3,562.4 3,713.9 3,822.9 3,874.1. 3,924.7 3,959.8 4,030.9 4,104.7 4,172.7
-24.5

-6.4

67.1

7.5 -24.1

-5.0

-9.0

-59.9

-42.7

-5.5

-2.8

25.5

92.1

68.9

68.3

39.0

18.5

15.5

.2

-4.3

3,164.2 3,413.3 3,766.8 4,059.5 3,102.0 3,122.4 3,173.9 3,258.4 3,283.0 3,373.2 3,460.0 3,536.9 3,621.8 3,754.0 3,805.8 3,885.7 3,941.3 4,015.4 4,104.5 4,177.0

1. Purchases in the United States of goods and services wherever produced.
2. Final sales in the United States of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.




II

1985

1984

1983

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