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SURVEY OF CURRENT BUSINESS

November 1980

NATIONAL INCOME AND PRODUCT TABLES
1979
1978

1979

II

III

1980
IV

I

II

1979
III'

1978

ii

1979

Seasonally adjusted at annual rates

1980

in

rv

I

II

III'

Seasonally adjusted at annual rates

Billions of current dollars

Billions of 1972 dollars

Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
2,127.6 2,368.8 2,329.1

Gross national product
Personal consumption expenditures

2,396.5 2,456.9 2,520.8 2,521.3 2,586.5 1,399.2 1,431.6 1,422.3 1,433.3 1,440.3 1,444.7 1,408. 6 1,411.7

1,350.8 1,509.8 1,475.9 1,528.6 1,580.4 1,629.5 1,626.6 1,683,3

Gross priyate domestic inrestment.
Fixed investment

_

900.8

924.5

915.0

925.9

935.4

936.5

910.8

921.9

200.3
530.6
619.8

Durable goods
Nondurable goods..
Services

213.0
596.9
699.8

208.7
581.2
686.0

213.4
604.7
710.6

216.2
630.7
733.5

220.2
652.0
757.3

195.7
654.1
7/6.9

208.5
665.8

146.7
343.3
410.8

147.1
349.1
428.3

144.8
344.1
426.1

146.9
349.2
429.9

146.7
355.1
433.6

145.4
354.1
437.0

127.4
347.8
435.6

132.9
347.1
442.0

351.5

387.2

395.4

392.3

387.2

387.7

368.5

348.4

214.3

215.2

221.7

214.2

207.7

203.2

188.6

179.5

361.9

377.8

381.7

383.0

357.1

365.2

200.2

205.5

203.5

207.1

206.3

202.9

186.0

185.7

329.1

Nonresidential
Structures
Producers' durable equipment-

221.1
76.5
144.6

254.9
92.6
162.2

249.1
90.5
158.6

261.8
95.0
166.7

265.2
100.2
165.1

272.6
103.3
169.4

268.2
103.7
164.5

270.9
102.0
168.9

140.1
43.9
96.2

148.8
48.1
100.7

146.9
47.9
99.0

150.7
48.7
101.9

150.5
50.1
100.4

151.2
50.3
100.9

145.3
49.1
96.3

143.5
46.8
96.7

Residential
Nonfarm structures.
Farm structures
Producers' durable equipment-

108.0
1.8
1.9

114.1
110.2
1.9
2.0

112.9
109.1
1.8
2.0

116.0
112.0
2.0
2.0

116.4
112.1
2.3
2.1

110.4
105.9
2.3
2.2

85.3
1.8
1.9

94.2
90.8
1.6
1.9

60.1
57.7
1.0
1.4

56.7
54.3
.9
1.4

56.7
54.4
1.4

56.5
54.0
1.0
1.4

55.8
53.2
1.1
1.5

51.7
49.1
1.1
1.5

40.7
38.6
.8
1.3

42.2
40.2
.7
1.3

22.3
21.3
1.1

18.2
16.5
1.7

33.4
32.6
.8

14.5
12.6
1.9

5.6
2.1
3.5

4.7
4.4
.3

11.4
12.3

-16.8
-10.7
-6.0

14.1
13.7
.3

9.7

18.1
17.7
.4

7.1
6.1
1.0

1.4
-.4
1.8

.3
.2
.2

2.6
3.1
-.5

-6.2
-3.2
-3.0

Change in business inventories.
Nonfarm
Farm

104.4

8.9

.9

.9

-10.3

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

-4.6

-8.1

-2.3

-11.9

-13.6

-2.2

21.3

11.0

17.6

13.2

20.1

20.1

25.0

28.3

32.2

207.2
217.5

257.5
262.1

243.7
251.9

267.3
269.5

280.4
292.4

308.1
321.7

307.0
309.2

313.2
291.9

108.9
97.9

119.9
102.3

116.0
102.9

122.2
102.1

124.3
104.1

131.7
106.7

128.3
99.9

127.6
95.4

435.6

476.4

466.6

477.8

501.2

517.2

528.3

533.6

273.2

274.3

272.4

273.1

277.1

280.0

280.9

278.0

152.6
99.0
53.6
283.0

Net exports of goods and services

166.6
108.3
58.4
309.8

161.7
106.0
55.7
304.9

162.9
109.0
53.9
314.9

178.4
114.6
63.8
322.8

186.2
119.6
66.6
331.0

193.3
124.1
69.2
335.0

191.4
129.1
62.3
342.2

99.4

98.1

97.4

101.1

104.3

106.7

103.9

174.9

174.3

175.6

176.0

175.

174.3

174.1

174J

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
2,127.6 2,368.8 2,329.8 2,396.5 2,456.9 2,520.8 2,521.3 2,586.5 1,399.2 1,431.6 1,422.3 1,433.3 1,440.3 1,444.7 1,408.6 1,411.7

Gross national productFinal sales
_
~.
Change in business inventories..
Goods..

2,105.2 2,350.6 2,296.4 2,381.9 2,451.4
18.2
33.4
22.3
14.5
5.6

2,509.9 2,603.3 1,385.1 1,421.9 1,404.1 1,426.2 1,439.0 1,444.4 1,406.0 1 , 417.8
L
11.4 -16.8
14.1
9.7
18.1
7.1
1.4
.3
2.6 - 6 . 2

930.0 1,030.5 1,018.1 1,036.0 1,056.3 1,086.2 1,079.2 1,099.3

639.5

653.1

647.3

651.3

655.1

659.7

636.9

633.3

Final sales
Change in business inventoriesDurable goods. „
Final sales
_
Change in business inventories-

907.7 1,012.4
18.2
22.3

984.6 1,021.5 1,050.7 1,081.5 1,067.8 1,116.1
33.4
5.6
4.7
11.4 -16.8
14.5

625.4
14.1

643.4
9.7

629.1
18.1

644.2
7.1

653.7
1.4

659.4

634.3
2.6

639.5
-6.2

380.4
366.5
13.9

422.4
398.0
24.3

424.4
417.1
7.3

426.8
431.9
-5.1

270.0
261.4
8.6

278.3
271.3
7.0

278.3
265.1
13.2

276.6
272.9
3.7

272.4
272.0
.4

271.0
274.6
-3.6

254.9

252.8
2.1

257.4
259.8
-2.5

Nondurable goods
Final sales
Change in business inventories..

549.6

595.7
586.6
9.1

611.6
604.4
7.2

672.5
664.5
684.2
659.2
-11.7
5.3
969.3 1,085.1 1,064.2 1,100.6 1,134.0 1,169.5 1,199.9 1,240.8
253.2
247.5
259.8
246.4
228.2
266.6
265.1
242.2

369.4
364.0
5.5

374.8
372.1
2.7

369.0
364.1
4.9

374.7
371.3
3.4

382.7
381.7
1.0

388.7
384.8
3.9

381.9
381.5
.5

375.9
379.6
-3.7

630.3
129.5

649.7
128.8

647.3
127.7

652.0
130.0

654.4
130.8

658.1
126.9

658.7
113.1

666.3
112.1

Services
Structures..

541.2
8.4

423.1
410.2
13.0
607.4
602.2
5.2

420.2
418.4
1.8

421.5
430.8
-9.3

636.1
632.3
3.8

664.8
650.7
14.0

414.7
408.6
6.1

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*

2,127.6 2,368.8 2,329.8 2,396.5 2,456.9 2,520.8 2,521.3 2,586.5 1,399.2 1,431.6 1,422.3 1,433.3 1,440.3 1,444.7 1,408.61,411.7
2,107.0 2,343.5 2,306.1 2,369.5 2,430.6 2,492.0 2,491.3 2,556.6 1,391.1 1,423.8 1,414.2 1,425.3 1,433.8 1,438.7 1,402.31,404.9
1,807.8 2,017.9 1,984.5 2,042.0 2,093.6 2,147.5 2,139.8 2,198.3 1,197.5 1,228.3 1,219.0 1.229.3 1,237.9 1,242.0 1,204.51,,206.1
1,745.0 1,944.0 1,915.2 1,964.8 2,015.2 2,068.9 2,071.3 2,124.2 1,160.0 1,191.2 1,184.7 1.189.4 1,197.8 1,199.8 1,165. , 167.7
1,579.2 1,755.6 1,731.0 1,773.4 1,815.8 1,862.9 1,858.1 1,902.8 1,039.6 1,063.8 1,058.2 1,061.0 1,067.4 1,067.5 1,031. ,031.6
184.2
165.8
199.4
120.4
206.1
188.4
191.4
213.3 221A
126.5
130.3 132.3 134.3 136.1
127.4
128.4
33.1
35.5
59.5
70.6
71.1
34.2
67.6
64.5
35.9
70.2
68.9
63.0
35.1
35.9
34.8
34.9
3.3
-1.3
7.2
11.0
9.7
3.7
8.3
5.4
3.4
5.0
6.3
3.1
5.3
2.2
4.3

Households and institutions.

77.2

75.8

77.9

80.4

85.3

88.1

43.6

45.0

44.7

45.4

45.7

46.2

46.4

47.3

Government
Federal
State and local..

229.6
71.8
157.8

248.4
77.0
171.4

245.8
75.8
170.0

249.6
76.3
173.3

256.6
80.6
175.9

261.3
81.2
180.1

266.2
82.5
183.8

270.1
8?. 6
187.5

149.9
49.1
100.8

150.5
49.1
101.3

150.5
49.1
101.4

150.6
49.2
101.5

150.3
49.0
101.2

150.5
49.2
101.4

151.4
49.9
101.6

151.5
49.8
101.7

Rest of the world..

20.5

25.3

23.7

26.9

26.4

28.8

29.9

30.0

8.1

7.9

8.1

8.0

6.5

6.0

6.3

6.7

p

Revised. See footnotes on p. 5.

HISTORICAL STATISTICS
The national income and product series 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 address 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. Summary national income and
product series in current and constant dollars and implicit price
deflators for 1947-79 are shown in the January 1980 issue of
the SURVEY.

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