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8

SURVEY OF CUEEENT BUSINESS

August 1981

National Income and Product Accounts Tables
The tables that follow are presented in eight groups, and the table numbers reflect these groups. The table numbers will also be used
in future publications presenting national income and product account estimates. The groups are:
1. National product and income
5. Saving and investment
2. Personal income and outlays
6. Product and income by industry
7. Implicit price deflators and price indexes
3. Government receipts and expenditures
8. Supplementary table: Percent change from
4. Foreign transactions
preceding period for selected items
Estimates for the first and second quarters of 1981 shown in these tables incorporate the changes in tax law that resulted from the
enactment of the Ecomomic Recovery Tax Act of 1981. (See the "Business Situation" for an explanation of these changes.) The detailed
series affected by the changes are: capital consumption allowances for corporations and nonfarm proprietors; the capital consumption
adjustment for corporations and nonfarm proprietors; corporate profits before taxes; nonfarm proprietors' income; and Federal and State
and local government corporate taxes. These series and related series that also are affected appear in tables 1.7, 1.11, 1.13, 3.2, 3.3, 5.1,
6.4, 6.20, and 7.7.
The abbreviations used in the tables are: CCAdj Capital consumption adjustment
IVA
Inventory valuation adjustment
NIPA's National income and product accounts
p
Preliminary
r
Revised

1980
1979

1980

I

II

1981

III

IV

I

1980

II'

1979

1980

I

II

Seasonally adjusted at annual rates

1981

IV

III

I

II'

Seasonally adjusted at annual rates

Billions of dollars

Billions of 1972 dollars

Table 1.1-1.2.—Gross National Product in Current and Constant Dollars
Gross national product

2,413.9 2 626 1 2,571.7 2,564 8 2,637.3 2,730 6 2, 853. 0 2, 881. 6 1,483.0 1,480 7 1,501.9 1,463.3 1,471.9 1,485 6 1, 516. 4 1, 507. 4

Personal consumption expenditures

212.3
602 2
696 3

Fixed investment
__ _
Nonresidential
Structures
Producers' durable equipmentResidential
Nonfarm structures
Farm structures
Producers' durable equipment
Change in business inventories
Nonfarm
Farm
• _»

Exports
Imports

220 9
661 1
749 0

194 4
664 0
768 4

208.8
674 2
799 2

395.3

415.6

390.9

377.1

397.7

437.1

393 2
294 0
107 3
186 8
99.2
94 5
17

415.1
302.1
111. 5
190.7
113. 0
107.6

432.7
315.9
117 2
198.7
116.7
111.4

398.3
279.7
96 3
183.4
118.6
113 9

_

401 2
296 0
108 8
187 1
105. 3
100 3

413.1
297.8
108 2
189 7
115.2
110 1

17 5
13 4

4.1

—5 9
—4 7
—1.2

30
25
15
10

13.4

_

23 3

8.2

1.8
2.9

_

_-

,

211 9
675 7
785 2

415.8

Gross private domestic investment

Net exports of goods and services

930 9

935 1

943 4

919 3

930 8

946 8

960 2

955.3

146.6
354 6
429 6

135.8
358 4
440 9

145 4
361 5
436 5

126. 2
356 6
436 5

132.6
354 9
443 3

139.1
360 4
447.3

146.8
364 5
448.9

137.2
366.6
451.4

455.8

232.6

203 6

218.3

200.5

195.3

200.5

211.6

218.2

434.6
323.3
122 7
200.7
111.3
106 0
21

222 5
163.3
48 5
114 8
59.1
56 2

206 6
158 4
48 4
110 0
48.1
45 2

219.2
165. 0
50 5
114.5
54.2
51 2

199 2
156.1
48 7
107.4
43.1
40 3

200.2
155. 5
46 8
108.8
44.7
41 9

207.6
157.0
47.8
109.3
50.6
47.5

213.1
162.0
49.6
112.4
51.0
48 0

208.5
160.4
50.2
110.1
48.1
45 2

—1.4

1 510 9 1 672 8 1 631 0 1 626 8 1 682 2 1 751 0 1 810 11 831 0

Durable goods
Nondurable goods
Services

_

_

2.0
3.0

22

383 5
289 8
108 4
181 4
93 6
88 9
18
29
3.0
16 0
74
6 1 —I 9 3
1 3 —3.7

17.1

223.3
703 5
824.2

2.2
3.1

9
2.0

9
2.0

1.0
2.1
9

.8
2.0

.7
2.0

1.0
2.0

.9
2.1

.9
2.0
9.7
8.7
.9

6.8

21 2
19 4

10 2
78

—2 9
—2 4

—1.4

.5

.6
.7

—5 0
—3.1
—1.8

—7 2
—5.6
—1.5

44.5

23.3

29.2

17.7

37.7

52.0

50.1

51.7

57.6

48.5

50.9

44.6

346.1
322.7

159.6
115.0

337.3
329 1

333.3
316 °

342.4
297 9

534.7

516.8

530.0

533.5

558.6

167 9
111.2
56.7
305.9

Federal
National defense
Nondefense
State and local

3.2

—2.4

473.8

Government purchases of goods and services

2.2
3.2

227.0
734 6
869 4

—17 4
—14.0
—3.4

339. 8
316 5

198 9
131. 7
67.2
335.8

190 0
125.0
64.9
326 8

198 7
128. 7
70.0
331 3

194 9
131.4
63.5
338 6

212. 0
141.6
70.4
346.6

281.3
267 9

238.3
726 0
845 8

45

1.8

2.4

—.5

13

—.3

—1.1

364.5
346 8

146.9
109 2

161.1
109.1

165.9
115.8

160.5
108.9

160.5
102. 8

157.4
108.9

162.5
111.6

576.5

577.1

281.8

290.0

210.1

291.9

288.2

289.8

293.6

289.3

221 6
145.2
76.4
354.9

219 4
148. 1
71.3
357 7

101 7
67.1
34.6
180 1

108 1
70.9
37.2
180 9

107 6
69.9
37.7
182.5

110.7
70.9
39.7
181. 2

106. 9
70.9
35. 9
181.3

107.4
71.9
35.4
182.4

111. 2
72.1
39.0
182.5

108.6
72.5
36.1
180.7

367.4
338.2

Table 1.3-1.4.—Gross National Product by Major Type of Product in Current and Constant Dollars
2,413.9 2,626.1 2 571 7 2 564 8 2 637 3 2 730 6 2,853.0 2,881 6 1 483 0 1 480 7 1,501.9 1,463.3 1,471.9 1,485 6 1,516.4 1,507.4

Gross national product
Final sales
Change in business inventories
Goods...

2, 396. 4 2, 632. 0 2 569. 1 2,557 4 2, 653. 4 2, 748. 0 2, 848. 5 2, 860. 3 1, 472. 9 1,483 6 1, 502. 8 1, 462. 0 1, 476. 9 1, 492. 7 1, 517. 8 1,497.7
9.7
—1.4
4.5
—7.2
21.2
17.5
2.5
10.2
1.3 -5.0
—5.9
—2.9
—.9
7.4 —16.0 -17.4

1,055.9 1,130 4 1 116.9 1 106 4 1,129.4 1, 169 0 1, 247. 5 1 252.6

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

__
_

674.5

665 2

682.1

658.1

657.5

662.9

688.9

683.8

1 038 5 1 136 3 1 114 4 1 099 0 1 145 4 1,186 3 1 243.1 1 231 4
7 4 —16 0 —17.4
21 2
17.5
25
4.5
—5.9

_

Final sales
Change in business inventories

664 3
10 2

668 1
—2 9

683 0

656 8

662 4
—5.0

670.1
—7.2

69 .3
—1.4

674. 1

296.9
290 2
67
377.5
374.1
35

279.4
281 3
—1 9
385.7
386.8
—1.1

290.6
295 2
—4.6
391.4
387.7

270.8
270 1

281.8
281.5

381.1
388.6
—7.5

.3

289.3
292.5
—3.1
399.6
397.9

287.2
278.7

387.3
386.7

274.6
278 4
—3.8
382.9
384.0
—1.1

690.7
129.1

690.6
114.6

699.9
114.5

701.7
121.0

703.6
123.9

703.9
119.7

451.2
439 7
11.5
604.7
598.8
60

458.6
462 6
—4.0
671.9
673.7
—1 8

456.4
468 2
—11 8
660 5
646.2
14 3

444.6
441 3
33
661.8
657.7
4i

456.5
464 9
—8 4
672 9
680.5
—7 7

476.7
476.0

.7

692.2
710.3
—18.1

501.4
505 5
—4 2
746.1
737.5
86

514.5
497 0
17 5
738 1
734.4
38

—.9

3.7

1.3
.7

.6

1.7

9.7

8.6

396.6
395.5

1.1

Services
Structures

1,097.2 1,229.6 1,178.6 1,205.6 1,249.0 1,285.3 1, 317. 1 1,344.3
288 4
276 4
260.8
266 0
252 8
276.2
284 6
258 9

Addenda:
Gross domestic purchases1
Final sales to domestic purchasers l

2, 400. 5 2,602.8 2, 563. 5 2, 547. 7 2, 592. 8 2, 707. 3 2, 823. 8 2, 863. 9 1, 445. 3 1, 428. 7 1, 451. 8 1,411.6 1, 414. 3 1,437.1 1,465.6 1, 462. 8
2,383 0 2, 608. 7 2 560 9 2 540 3 2 608 8 2, 724. 6 2 819 3 2 842 7 1,435 1 1, 431. 7 1,452 7 1,410 4 1,419 2 1,444.2 1, 466. 9 1, 453. 1

678.0
130 6

695.7
119 8

1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports.




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