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SURVEY OF CURRENT BUSINESS

September

National Income and Product Accounts Tables
New estimates in this issue: 1. Second quarter 1982, revised. 2. Federal Government corporate profits tax liability and related items (tables
1.11, 1.13, 3.2, and 5.1) for first quarter 1982, revised to incorporate effects of Tax Equity and Fiscal Responsibility Act of 1982.
The tables that follow are presented in eight groups, and the table numbers reflect these groups. The same numbers are used in other
publications presenting national income and product account estimates. The groups are:
5. Saving and investment
6. Product and income by industry
7. Implicit price deflators and price indexes
8. Supplementary table: Percent change from preceding period for
selected items

1. National product and income
2. Personal income and outlays
3. Government receipts and expenditures
4. Foreign transactions
The abbreviations used in the tables are: CCAdj
IVA
NIPA's

Capital consumption adjustment
Inventory valuation adjustment
National income and product accounts
Preliminary
Revised

The NIPA estimates for 1929-76 are in The National Income and Product Accounts of the United States, 1929-76: Statistical Tables (Stock
No. 003-010-00101-1, price $10.00). Estimates for 1977-81 and corrections for earlier years are in the July 1982 SURVEY. These publications are
available from the Superintendent of Documents and Commerce Department District Offices; see addresses inside front cover.

Table 1.1-1.2.—Gross National Product in Current and Constant Dollars
Billions of dollars

Billions of 1972 dollars

Seasonally adjusted at annual rates

1980

1981

1981

Seasonally adjusted at annual rates

1982

I

II

III

IV

I

1980

1981

1981

II r

1982

I

II

III

IV

I

II r

1,510.4

Gross national product

2,633.1

2,937.7

2,864.9

2,901.8

2,980.9

3,003.2

2,995.5

3,045.2 1,474.01 1,502.6

1,507.8

1,502.2

1,490.1

1,470.7

1,478.4

Personal consumption expenditures

1,667.2

1,843.2

1,799.9

1,819.4

1,868.8

1,884.5

1,919.4

1,947.8

930.5

947.6

951.1

944.6

951.4

943.4

949.1

955.0

214.3
670.4
782.5

234.6
734.5
874.1

236.9
720.6
842.4

230.4
729.6
859.4

241.2
741.3
886.3

229.6
746.5
908.3

237.9
749.1
932.4

240.7
755.0
952.1

137.1
355.8
437.6

140.0
362.4
445.2

145.3
361.6
444.2

138.6
361.7
444.3

142.2
363.0
446.2

134.1
363.1
446.2

137.5
362.2
449.5

138.3
364.5
452.2

Durable goods
Nondurable goods
Services
...

.

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

402.3

471.5

455.7

475.5

486.0

468.9

414.8

431.5

208.4

225.8

221.6

229.5

233.4

218.9

195.4

202.3

412.4
309.2
110.5
198.6
103.2
98.3
1.9
3.0
-10.0
57
-4.3

451.1
346.1
129.7
216.4
104.9
99.7
2.1
3.2
20.5
15.0
5.5

443.5
330.0
119.6
210.4
113.6
109.1
1.3
3.2
12.2
10.0
2.2

450.9
341.3
127.0
214.3
109.5
104.7
1.6
3.2
24.6
19.3
5.3

454.2
353.0
132.7
220.2
101.2
95.6
2.4
3.2
31.8
24.6
7.2

455.7
360.2
139.6
220.6
95.5
89.4
2.9
3.2
13.2
6.0
7.2

450.4
357.0
141.4
215.6
93.4
87.9
2.4
3.1
-35.6
-36.0
.4

447.7
352.2
143.6
208.6
95.5
89.6
2.8
3.2
-16.2
-15.0
-1.2

213.3
166.1
48.5
117.6
47.2
44.3
.8
2.0
-5.0
-2.9
-2.1

216.9
172.0
51.6
120.4
44.9
42.1
.9
2.0
9.0
6.8
2.1

219.2
169.7
49.5
120.1
49.6
47.0
.6
2.0
2.4
2.0
.4

217.4
170.1
51.0
119.1
47.3
44.6
.7
2.0
12.1
10.2
1.9

216.9
173.9
52.5
121.4
42.9
39.9
1.0
2.0
16.5
13.6
3.0

214.1
174.2
53.3
120.9
"39.9
36.7
1.2
2.0
4.8
1.6
3.2

210.8
172.0
53.5
118.5
38.9
36.0
1.0
1.9
-15.5
-15.6
.2

206.7
166.7
53.7
113.0
40.1
37.0
1.1
1.9
-4.4
-3.8
-0.6

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

26.1

31.2

23.7

25.9

23.5

31.3

34.9

50.6

42.0

48.2

44.2

39.2

36.9

35.7

367.3
341.3

365.4
334.2

368.9
345.1

367.2
341.3

367.9
344.4

359.9
328.6

365.8
330.9

159.2
108.6

158.5
116.4

159.3
111.1

159.7
115.5

157.8
118.7

156.9
120.4

151.7
114.7

154.4
118.7

538.4

596.9

578.1

583.2

600.2

626.3

630.1

630.9

284.6

287.1

286.8

283.9

286.4

291.3

289.2

285.3

197.2
131.4
65.8
341.2

Exports
Imports

25.2
339.2
314.0

Net exports of goods and services

228.9
153.7
75.2
368.0

217.0
143.1
73.9
361.1

218.2
150.5
67.7
365.0

230.0
154.4
75.7
370.1

250.5
166.9
83.6
375.7

249.7
166.2
83.5
380.4

244.3
176.2
68.2
386.6

106.5
70.1
36.4
178.1

110.4
73.5
36.8
176.7

107.9
71.0
36.9
179.0

107.0
72.9
34.1
176.9

110.7
74.3
36.5
175.7

116.0
76.1
39.9
175.3

114.4
74.5
39.8
174.9

110.3
78.2
32.1
175.0

36.5

Table 1.3-1.4.—Gross National Product by Major Type of Product in Current and Constant Dollars
Gross national product
Final sales
Change in business inventories

26331 29377

2,864.9

2,901.8 2,980.9

3,003.2

2,643 1 2,917 3 2,852.7
100
12.2
205

2,877.2
24.6

2,949.1 2,989.9
132
318

3,045.2

1,474.0

1,502.6

1,507.8

1,502.2

1,510.4

1,490.1

1,470.7

1,478.4

3,031.1 3,061.4
-356
-16.2

1,479.0
-5.0

1,493.7
9.0

1,505.4
2.4

1,490.1
12.1

1,493.9
16.5

1,485.3
4.8

1,486.1
-15.4

1,482.7
— 4.4

2,995.5

1,141.9

1,289.2

1,265.3

1,276.1

1,317.0

1,298.4

1,269.4

1,283.1

667.9

689.5

692.8

689.8

697.2

678.0

661.8

663.2

Final sales
Change in business inventories

1,151.9
100

1,268.7
205

1,253.1
12.2

1,251.4
24.6

1,285.1
31.8

1,285.2
13.2

1,305.0
-35.6

1,299.3
-16.2

672.9
-5.0

680.5
9.0

690.4
2.4

677.7
12.1

680.7
16.5

673.2
4.8

677.2
-15.4

667.5
4.4

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

4773
482.5
-5.2
664.6
6694
48

5281
519.4
8.7
761.1
7494
117

522.0
519.8
2.2
743.3
733.3
100

538.2
519.7
18.5
737.8
731.7
61

547.3
527.5
19.8
769.7
7576
120

504.9
510.5
-5.6
793.6
7747
189

482.4
513.6
-30.9
787.0
7918
48

505.9
512.6
-6.6
777.2
7867
96

288.3
290.8
-2.6
379.7
382.1
24

293.1
289.3
3.8
396.3
391.2
51

298.9
298.9
.1
393.8
391.5
23

299.6
290.5
9.1
390.3
387.2
30

298.8
290.2
8.6
398.4
390.5
79

275.1
277.6
-2.5
402.9
395.6
73

265.0
278.7
-13.7
396.8
398.5
17

272.3
274.9
-2.6
390.9
392.6
17

Services
Structures

1,225.5
265.7

1,364.3
284.2

1,313.5
286.1

1,340.2
285.6

1,382.1 1,421.5
281.9
283.3

1,444.4
281.7

1,476.7
285.3

687.1
118.9

695.6
117.6

693.1
121.9

693.2
119.2

697.5
115.7

698.6
113.4

697.0
111.9

702.2
113.0

Addenda:
Gross domestic purchases *
Final sales to domestic purchasers *

2,607.9
26179

2,911.7 2,833.8
28912 28216

2,878.1 2,955.0 2,979.7 2,964.2 3,010.3
28535 29232 29665 29998 30265

1,423.4
1,428 4

1,460.6
1,451.6

1,459.6
1,457.2

1,458.0
1,445.9

1,471.2
1,454.7

1,453.6
1,448.8

1,433.8
1,449 2

1,442.6
14470

Goods

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