View PDF

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

SURVEY OF CURRENT BUSINESS

July 1996

NATIONAL INCOME AND

PRODUCT

ACCOUNTS

Selected NIPA Tables
New estimates in this issue: "Final" estimates for the first quarter of 1996.
The selected set of NIPA tables shown in this section presents quarterly estimates, which are updated monthly.
In most tables, the annual estimates are also shown. (Some of the lines in tables i.io and 1.16 are not yet available
and are shown as leaders; they will be shown in a forthcoming issue.) These tables are available electronically
on the day of the gross domestic product (GDP) news release by subscription from STAT-USA'S Economic Bulletin
Board and Internet services; for information, call (202) 482-1986. The tables are also available on printouts or
diskettes; for subscription information, write to the National Income and Wealth Division (BE-54), Bureau of
Economic Analysis, Washington, DC 20230 or call (202) 606-9700.
Most of the NIPA tables showing the revised estimates for 1991-94 from the recent comprehensive revision
were in the January/February 1996 issue of the SURVEY; of the tables not published in that issue, tables 6.90,
6.130, 8.2, 8.13, 8.19, and 8.26 were in the April 1996 issue, and tables 3.13, 3.15-3.17, 3.186, 3.19, 3.20, and 9.1-9.6
were in the June 1996 issue. The two remaining tables (1.13 and 5.3) will appear in the August 1996 issue.
Summary NIPA series back to 1959 were in the January/February issue.
For information about the upcoming annual revision of the NIPA'S, see the box on the preceding page.
NOTE.—This section of the SURVEY is prepared by the National Income and Wealth Division and the
Government Division.

i. National Product and Income..
Table 1.1—Gross Domestic Product

Table 1.2.—Real Gross Domestic Product

[Billions of dollars]

[Billions of chained (1992) dollars]

Seasonally adjusted at annual rates

1994

1995

1994

IV

II

III

IV

4,698.7 4,924.3 4,796.0 4,836.3 4,908.7 4,960.0 4,992.3 5,062.7

580.9 606.4 602.7 593.0
Durable goods
Nondurable goods
1,429.7 1,486.1 1,459.0 1,471.6
2,688.1 2,831.8 2,734.4 2,771.7
Services .
Gross private domestic
1,014.4 1,065.3 1,050.1 1,072.0
investment
Fixed investment
954.9 1,028.2 S|91.4 1,013.9
667.2 738.5 697.9 723.6
Nonresidential
. .. ...
180.2 199.7 188.8 194.5
Structures
I
Producers' durable
equipment
487.0 538.8 509.1 529.0
287.7 289.8 293.5 290.4
Residential
Change in business
58.7
37.0
58.1
59.5
inventories
Net exports of goods and
services
Exports
Goods
Services
Imports
Goods
Services

. . ..

Government consumption
expenditures and gross
investment
Federal
National defense
Nondefense
State and local

604.0 615.8 612.8 625.2
1,486.9 1,491.4 1,494.8 1,522.6
2,817.9 2,852.8 2,884.7 2,914.9

778.6
558.9
219.7
885.1
740.3
144.8

38.2

17.8

-1.7

-79.3

-97.5

Net exports of goods and
services

829.9
602.9
227.0
909.2
759.2
150.1

832.2
602.0
230.1
929.7
775.7
154.0

1,314.7 1,358.5 1,333.5 1,346.0 1,359.9 1,364.5 1,363.5 1,383.7
516.3 516.7 520.9 519.9 522.6 516.7 507.8 518.6
352.0 345.7 349.6 347.7 352.3 345.6 337.2 343.9
. ... 164.3 171.0 171.2 172.1 170.3 171.1 170.6 174.7
798.4 841.7 812.6 826.1 R37.3 847.7 855.7 865.1

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




562.0 580.8 579.9 566.9 576.6 589.7 590.1 602.2
1,390.5 1,422.5 1,408.4 1,416.8 1,423.5 1,425.4 1,424.2 1,436.9
2,519.4 2,576.1 2,535.1 2,548.1 2,569.6 2,586.3 2,600.4 2,616.8

34.0

812.5
588.0
224.6
913.3
765.0
148.3

I

4,471.1 4,578.5 4,522.3 4,530.9 4,568.8 4,600.4 4,614.1 4,655.0

560.6
301.7

796.9
574.7
222.2
919.3
771.0
148.3

IV

Durable goods
Nondurable goods
Services

545.7
296.5

-99.7 -106.6 -122.4 -100.8

1996

III

Gross domestic product . 6,604.2 6,739.0 6,691.3 6,701.6 6,709.4 6,768.3 6,776.5 6,812.7

543.8
290.3

763.6
545.4
218.2
863.3
720.9
142.3

804.5
581.1
223.4
906.7
758.9
147.9

1995

II

I

Personal consumption
expenditures

536.8
281.9

722.0
509.1
212.9
818.4
677.3
141.1

1994

IV

Gross private domestic
investment
Fixed investment
Nonresidential
Structures
Producers' durable
equipment
Residential
Change in business
inventories

1,050.3 1,074.8 1,064.0 1,068.9
1,016.3 1,036.6 1,046.2 1,070.7
734.4 746.3 749.7 769.0
197.6 202.5 204.0 208.4

-96.4 -102.3

1995

i

Gross domestic product . 6,931.4 7,245.8 7,080.0 7,147.8 7,196.5 7,298.5 7,340.4 7,417.8
Personal consumption
expenditures

1994

1996

1995

I

Seasonally adjusted at annual rates

Exports
Goods
Services
Imports
Goods
Services
Government consumption
expenditures and gross
investment
Federal
National defense
Nondefense
State and local
Residual

979.6 1,011.3 1,006.3 1,024.2
921.1 976.9 949.7 969.6
652.1 715.0 679.7 704.4
168.8 181.1 174.3 178.5

998.3 1,016.2 1,006.7 1,014.1
966.1
710.6
180.0

981.0
719.7
182.7

990.7 1,016.9
725.3 746.8
183.1 186.6

484.1
268.9

535.2
262.8

506.4
270.3

527.1
265.9

531.9
256.6

538.2
262.3

543.5
266.4

561.7
271.2

58.9

33.7

57.3

54.5

30.6

33.2

16.5

-2.1

-108.1 -114.2 -105.8 -119.0 -126.8 -114.3
715.1
511.4
204.1
823.3
684.0
139.4

774.8
566.8
208.9
888.9
747.0
142.3

751.0
543.9
207.7
856.8
718.6
138.5

755.8
548.9
207.6
874.9
732.8
142.4

764.3
557.8
207.4
891.2
750.5
141.1

779.1
570.7
209.4
893.4
752.2
141.6

-96.6 -114.6

799.8
589.8
211.1
896.4
752.8
143.9

803.8
592.9
212.1
918.4
770.6
148.1

1,259.9 1,260.7 1,266.6 1,263.0 1,265.8 1,263.6 1,250.4 1,255.3
489.7
336.9
152.6
770.5

472.7
320.0
152.4
788.6

489.1
331.3
157.5
777.7

481.3
325.3
155.6
782.2

479.9
326.1
153.6
786.3

472.7
319.3
153.1
791.5

-.5

-.6

-1.4

-.6

1.0

.3

456.8
309.3
147.2
794.4

463.3
312.2
150.8
792.6

-2.8

-2.5

NOTE—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive.
The residual line is the difference between the first line and the sum of the most detailed lines. Percent changes
from preceding period for selected items in this table are shown in table 8.1; contributions to the percent change
in real gross domestic product are shown in table 8.2.

SURVEY OF CURRENT BUSINESS

6 • July 1996

Table 1.3.—Gross Domestic Product by Major Type of Product

Table 1.4.—Real Gross Domestic Product by Major Type of Product

[Billions of dollars]

[Billions of chained (1992) dollars]

Seasonally adjusted at annual rates

1994

1995

1994

IV

II

1994

1996

1995

I

Seasonally adjusted at annual rates

111

IV

1995

Gross domestic product . 6,931,4 7,245.8 7,080.0 7,147.8 7,196.5 7,298.5 7,340.4 7,417.8
Final sales of domestic
product .
6,871.8 7,208.8 7,021.3 7,089.7 7,162.5 7,260.3 7,322.6 7,419.6
Change in business
inventories
38.2
59.5
37.0
-1.7
17.8
58.7
58.1
34.0
Goods
2,593.8 2,697.4 2,659.6 2,675.4 2,676.3 2,722.8 2,715.0 2,747.4
Final sales
2,534.2 2,660.3 2,600.9 2,617.3 2,642.3 2,684.5 2,697.1 2,749.1
Change in business
-1.7
38.2
inventories
58.7
37.0
17.8
34.0
58.1
59.5
Durable goods
1,117.8 1,179.8 1,146.4 1,173.0 1,162.6 1,191.7 1,191.8 1,203.7
Final sales
1,085.9 1,144.9 1,113.3 1,118.6 1,134.0 1,162.5 1,164.5 1,191.4
Change in business
12.3
29.2
33.1
54.4
34.8
27.3
28.5
inventories
31.9
Nondurable goods
1,476.0 1,517.6 1,513.2 1,502.4 1,513.7 1,531.1 1,523.2 1,543.7
Final sales
1,448.3 1,515.4 1,487.6 1,498.7 1,508.3 1,522.1 1,532.6 1,557.7
Change in business
-9.4 -14.0
5.4
3.7
25.6
27.6
2.2
inventories
9.1
3,742.3 3,920.8 3,806.3 3,852.6 3,904.5 3,943.2 3,983.1 4,019.1
Services
595.3 627.6 614.1 619.8 615.7 632.6 642.3 651.4
Structures
Addenda:
Motor vehicle output
264.8 262.4 271.2 269.9 257.5 258.4 263.6 243.2
Gross domestic product less
motor vehicle output
6,666.5 6,983.4 6,808.8 6,877.9 6,939.0 7,040.1 7,076.8 7,174.7
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.

1994

IV

I

1996

1995

I

II

III

IV

I

Gross domestic product . 6,604.2 6,739.0 6,691.3 6,701.6 6,709.4 6,768.3 6,776.5 6,812.7
Final sales of domestic
product
6,546.3 6,704.7 6,635.2 6,647.5 6,677.4 6,733.3 6,760.5 6,815.3
Change in business
inventories
54.5
33.2
33.7
-2.1
30.6
16.5
57.3
58.9
-.4
1.4
-1.2
-.5
Residual . .
1.8
.6
-.5
-1.0
Goods
2,524.3 2,590.8 2,578.5 2,580.3 2,573.2 2,608.2 2,601.3 2,621.1
Final sales
2,465.6 2,556.3 2,521.8 2,525.6 2,541.1 2,573.1 2,585.5 2,624.3
Change in business
33.7
-2.1
54.5
33.2
inventories
30.6
16.5
57.3
58.9
Durable goods . . .
1,099.2 1,156.3 1,129.8 1,149.7 1,139.8 1,166.0 1,169.8 1,180.7
Final sales
1,068.0 1,123.5 1,097.4 1,097.9 1,112.2 1,138.8 1,145.1 1,171.3
Change in business
11.0
26.7
51.6
27.0
25.9
31.6
32.8
inventories
30.6
Nondurable goods
1,425.6 1,435.4 1,449.3 1,431.6 1,434.2 1,443.2 1,432.6 1,441.6
Final sales
1,398.0 1,433.5 1,424.8 1,428.2 1,429.4 1,435.2 1,441.3 1,454.0
Change in business
2.2
28.2
.4
3.6
5.9 -10.0 -13.5
25.6
inventories
3,521.7 3,578.5 3,545.9 3,552.6 3,574.7 3,588.7 3,597.9 3,607.3
Services
559.8 571.7 569.1 570.8 563.3 573.6 579.3 586.4
Structures
-1.7
-2.1
-1.4
-3.8
-.5
-.9
-3.0
-3.1
Residual
Addenda:
Motor vehicle output
245.1 234.9 249.5 244.2 230.6 230.6 234.0 215.4
Gross domestic product less
6,358.7 6,504.1 6,441.3 6,457.0 6,478.8 6,537.8 6,542.6 6,597.9
motor vehicle output
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive.
The residual line following change in business inventories is the difference between gross domestic product and
the sum of final sales of domestic product and of change in business inventories; the residual line following structures is the difference between gross domestic product and the sum of the detailed lines of goods, of services,
and of structures. Percent changes from preceding period for selected items in this table are shown in table 8.1

Table 1.6.—Relation of Real Gross Domestic Product, Real Gross
Domestic Purchases, and Real Final Sales to Domestic Purchasers

Table 1.5.—Relation of Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers

[Billions of chained (1992) dollars]

[Billions of dollars]
Gross domestic product
Less: Exports of goods and
services
Plus: Imports of goods and
services
Equals: Gross domestic
purchases
Less: Change in business
inventories
Equals: Final sales to
domestic purchasers

6,931.4 7,245.8 7,080.0 7,147.8 7,196.5 7,298.5 7,340.4 7,417.8
722.0
818.4

804.5
906.7

763.6
863.3

778.6
885.1

796.9
919.3

812.5
913.3

829.9
909.2

832.2
929.7

7,027.8 7,348.1 7,179.6 7,254.3 7,318.9 7,399.3 7,419.7 7,515.3

59.5

37.0

58.7

58.1

34.0

38.2

17.8

-1.7

6,604.2 6,739.0 6,691.3 6,701.6 6,709.4 6,768.3 6,776.5 6,812.7

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

715.1

751.0

755.8

764.3

779.1

799.8

803.8

856.8

774.8

823.3

874.9

891.2

893.4

896.4

918.4

6,709.7 6,849.7 6,794.0 6,816.9 6,832.0 6,879.4 6,870.5 6,923.7
58.9

33.7

57.3

33.2

54.5

16.5

-2.1

6,651.6 6,815.4 6,737.9 6,762.7 6,799.9 6,844.4 6,854.5 6,926.3

6,968.3 7,311.0 7,121.0 7,196.2 7,284.9 7,361.0 7,401.9 7,517.0
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive.
Percent changes from preceding period for selected items in this table are shown in table 8.1.

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

Table 1.8—Real Gross Domestic Product by Sector

Table 1.7.—Gross Domestic Product by Sector

[Billions of chained (1992) dollars]

[Billions of dollars]
Gross domestic product .
Business!
Nonfarm *
Nonfarm less housing
Housing
Farm
Households and institutions ...
Private households
Nonprofit institutions
General government2
Federal
State and local

6,931.4
5,794.0
5,711.7
5,118.6
593.1

7,245.8
6,070.2
5,991.6
5,367.1
624.6

7,080.0
5,932.6
5,852.6
5,248.6
603.9

7,147.8
5,986.0
5,909.3
5,296.0
613.3

7,196.5
6,024.7
5,947.9
5,327.4
620.5

7,298.5
6,118.3
6,039.7
5,414.7
625.1

7,340.4
6,151.9
6,069.7
5,430.3
639.4

7,417.8
6,217.3
6,128.3
5,487.9
640.4

82.3

78.6

80.0

76.6

76.8

78.6

82.2

89.1

310.3

323.0

313.4

316.7

321.3

324.3

333.5

10.8
299.5
827.0
275.7

11.2
11.0
311.8 302.6 305.8 310.3 313.1
852.6 834.0 845.1 850.4 855.9
278.2 274.3 278.6 278.9 278.8
574.4 559.7 566.5 571.6 577.1

329.6
11.3
318.2
859.0
276.8
582.2

551.4

11.1

10.8

10.9

11.5

322.0
867.0
279.0
588.0

1. Gross domestic business product equals gross domestic product less gross product of households and institutions and of general government. Nonfarm product equals gross domestic business product less gross farm product.
2. Equals compensation of general government employees plus general government consumption of fixed capital
as shown in table 3.7B.




Gross domestic product .
Business ]
Nonfarm 1
Nonfarm less housing
Housing
Farm
Households and institutions ...
Private households
Nonprofit institutions
General government2
Federal
State and local
Residual

6,604.2
5,525.8
5,442.2
4,880.9
561.3

6,739.0
5,659.1
5,582.4
5,008.7
573.6

6,691.3
5,612.0
5,530.0
4,964.5
565.6

6,701.6
5,621.6
5,542.4
4,973.4
569.0

6,709.4
5,628.4
5,551.2
4,979.6
571.6

6,768.3
5,685.6
5,611.2
5,037.7
573.5

6,776.5
5,700.7
5,624.7
5,044.2
580.5

6,812.7
5,739.1
5,659.8
5,082.5
577.3

83.9

76.4

82.1

79.1

76.9

73.9

75.6

79.2

296.2

302.5

298.8

300.1

301.7

303.1

305.1

305.6

10.2

10.1

10.1

10.0

10.1

10.2

10.2

10.3

286.0 292.4 288.7 290.1 291.6 293.0 294.9 295.4
782.4 777.7 780.8 780.1 779.7 779.9 771.3 768.5
256.8 246.5 252.1 250.2 249.1 247.7 238.8 238.9
525.8 531.7 529.0 530.2 530.9 532.5 533.0 530.1
-.4
-.4
-.7
-.4
-.2
-.7 -1.0
-.8

1. Gross domestic business product equals gross domestic product less gross product of households and institutions and of general government. Nonfarm product equals gross domestic business product less gross farm product.
2. Equals compensation of general government employees plus general government consumption of fixed capital
as shown in table 3.8B.
NOTE.—Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992
current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity
indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive.
The residual line is the difference between the first line and the sum of the most detailed lines.

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