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22

SURVEY OF CURRENT BUSINESS

July 1983

1. National Product and Income
Table 1.1.—Gross National Product
Millions of dollars

Billions of dollars, seasonally adjusted at annual rates

Line

1979

1979

1981

1980

1980

1982
IV

II

III

IV

1

Fixed investment
Non residential
Structures
Producers' durable equipment
Residential
...
Nonfarm structures
Farm structures
Producers' durable equipment
Change in business inventories
Nonfarm
Farm

»

2,954,069

3,072,989

2,502.9

2,572.9

2,578.8

2,639.1

2,736.0

1,668,059

1,857,180

1,991,861

1,578.0

1,620.5

1,626.4

1,683.4

1,741.9

213,441
600,028
693,696

214,731
668,814
784,514

236,142
733,903
887,135

244,459
761,014
986,388

216.6
635.5
725.9

220.7
651.4
748.3

200.8
658.2
767.5

213.8
671.9
797.6

223.6
693.7
824.6

6

Gross private domestic investment

2,631,688

1,507,165

3
4
5

Durable goods
Nondurable goods
Services

2,417,759

2

Gross national product .. .
Personal consumption expenditures

423,030

401,873

474,916

414,514

416.8

422.0

394.3

379.5

411.7

7
8
9
10
11
12
13
14
15
16
17

408,769
290,200
98,291
191,909
118,569
113,993
1,707
2,869
14,261
8,592
5,669

411,662
308,794
110,940
197,854
102,868
98,075
1,762
3,031
9789
-4,466
5323

456,464
352,203
133,354
218,849
104,261
99,785
1,254
3,222
18,452
10,859
7,593

439,058
348,308
141,889
206,419
90,750
85,974
1,532
3,244
24544
-23,124
-1,420

419.4
301.6
107.1
194.5
117.8
112.3
2.5
3.0
-2.6
-7.8
5.1

423.6
311.1
110.5
200.6
112.5
106.4
3.1
3.0
-1.6
1.2
28

391.3
299.3
108.4
190.9
92.0
87.4
1.6
3.0
3.0
7.4
-4.4

404.9
307.5
110.3
197.2
97.5
93.5
.9
3.0
-25.4
160
-9.4

426.8
317.3
114.6
202.7
109.5
105.0
1.4
3.1
-15.1
104
-4.8

18

26,262

17,412

10.5

12.8

22.5

37.1

23.3

338,771
314,822

368,753
342,491

347,614
330,202

310.5
300.0

335.3
322.5

336.8
314.2

337.6
300.5

345.4
322.0

21

Federal
National defense
Nondefense
State and local

23,949

281,358
268,145
474,351

537,807

595,711

649,202

497.6

517.6

535.5

539.1

559.0

22
23
24
25

'

Government purchases of goods and services

13,213

19
20

Net exports of goods and services
Exports
Imports

I

168,343
111,839
56,504
306,008

197,048
131,190
65,858
340,759

229,235
154,031
75,204
366,476

258,707
179,417
79,290
390,495

177.8
119.0
58.7
319.8

188.1
125.9
62.2
329.6

199.0
129.1
69.9
336.5

194.5
130.8
63.8
344.6

206.6
139.1
67.6
352.4

I

Billions of dollars, seasonally adjusted at annual rates

1982

1981

Line
II

I

III

1983

II

I

IV

III

IV

II

Gross national product

1

2,866.6

2,912.5

3,004.9

3,032.2

3,021.4

3,070.2

3,090.7

3,109.6

3,171.5

3,273.7

Personal consumption expenditures

2

1,802.8

1,835.8

1,886.1

1,904.1

1,938.9

1,972.8

2,008.8

2,046.9

2,073.0

2,151.3

3
4
5

236.9
716.3
849.6

233.4
730.6
871.8

243.5
741.1
901.5

230.8
747.7
925.6

239.4
749.7
949.7

242.9
754.7
975.2

243.4
766.6
998.9

252.1
773.0
1,021.8

258.5
777.1
1,037.4

278.1
799.8
1,073.4

6

455.5

472.1

495.8

476.2

422.9

432.5

425.3

377.4

404.1

451.5

7
8
9
10
11
12
13
14
15
16
17

444.7
333.1
121.6
211.5
111.6
107.5
.9
3.2
10.9
8.1
2.8

457.1
347.6
129.4
218.3
109.5
105.2
1.1
3.2
15.0
5.0
10.1

462.2
360.6
137.0
223.6
101.7
97.0
1.5
3.2
33.6
24.1
9.5

461.8
367.6
145.5
222.1
94.3
89.5
1.6
3.3
14.3
6.2
8.1

448.6
361.3
144.7
216.5
87.3
83.2
.9
3.2
-25.7
-27.6
1.9

443.7
352.7
144.2
208.5
91.0
86.1
1.6
3.3
-11.2
-8.8
-2.4

430.2
342.3
140.0
202.2
87.9
83.4
1.3
3.3
-4.9
-2.3
-2.6

433.8
337.0
138.6
198.4
96.8
91.2
2.3
3.3
-56.4
-53.7
-2.7

443.5
332.1
132.9
199.3
111.3
106.7
1.3
3.4
-39.4
-39.0
-.4

462.1
335.3
127.7
207.6
126.8
121.8
1.5
3.5
-10.6
-8.6
-2.0

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

18

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

.

31.9

21.1

22.8

29.2

29.9

33.3

.9

5.6

17.0

12.5

19
20

Net exports of goods and services

367.3
335.4

369.2
348.1

367.5
344.7

371.0
341.7

358.4
328.5

364.5
331.2

346.0
345.0

321.6
316.1

326.9
309.9

321.7
334.3

21

576.3

583.5

600.3

622.8

629.8

631.6

655.7

679.7

677.4

683.3

22
23
24
25

215.7
143.3
72.4
360.5

220.4
151.2
69.2
363.2

232.4
154.9
77.5
367.9

248.5
166.7
81.8
374.3

249.7
168.1
81.7
380.0

244.1
175.2
68.9
387.5

261.7
183.6
78.1
394.0

279.2
190.8
88.5
400.5

273.5
194.4
79.1
404.0

274.8
201.9
72.8
408.6

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




SURVEY OF CURRENT BUSINESS

July 1983

23

Table 1.2.—Gross National Product in Constant Dollars
[Billions of 1972 dollars]
Seasonally adjusted at annual rates
Line

1979

1980

1981

1982

1979
IV

1980
I

II

IV

I

II

1983

1982

1981
III

III

IV

I

II

III

IV

I

II

Gross national product

1

Personal consumption expenditures

2

927.6

931.8

956.8

970.2

938.6

938.3

919.6

929.4

940.0

953.6

954.7

962.9

955.7

961.4

968.8

971.0

979.6

986.7 1,010.5

3
4
5

147.2
353.1
427.3

137.5
355.6
438.8

141.2
362.5
453.1

139.8
364.2
466.2

146.3
359.8
432.6

145.2
358.5
434.5

130.0
354.2
435.4

135.6
353.5
440.3

139.0
356.2
444.7

145.4
359.8
448.3

140.5
362.7
451.5

143.9
363.6
455.5

134.8
363.8
457.1

138.5
362.6
460.4

139.5
363.5
465.7

138.2
364.7
468.2

143.2
366.0
470.4

145.8
368.9
472.0

156.4
374.3
479.8

Gross private domestic investment ..

6

236.3

208.5

227.6

194.5

225.3

224.3

202.4

197.4

210.0

222.7

229.5

236.3

221.7

199.7

201.4

198.4

178.4

190.0

208.5

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

7
8
9
10
11
12
13
14
15
16
17

229.1
169.9
49.1
120.8
59.1
56.3
.8
2.0
7.3
4.9
2.4

212.9
165.8
48.8
117.0
47.1
44.2
.8
2.0
-4.4
-2.0
-2.3

219.1
174.4
52.5
121.9
44.7
42.1
.5
2.0
8.5
5.1
3.4

203.9
166.1
53.4
112.7
37.8
35.2
.6
1.9
-9.4
--8.6
g

227.6
170.9
51.2
119.7
56.7
53.4
12
2.1
-2.3
-4.4
2.1

224.8
171.8
50.9
120.9
53.0
49.5
14
2.1
-.5
.6
1i

204.5 207.5
162.2 163.6
48.4
47.5
113.7 116.1
42.4
44.0
39.6
41.5
7
4
2.0
2.0
-2.1 -10.1
-.1 -5.9
2o
43

214.7
165.7
48.3
117.4
49.0
46.4
6
2.0
-4.7
-2.8
19

219.7
170.9
50.1
120.8
48.8
46.3
4
2.1
3.0
2.1
.9

220.7
173.4
51.6
121.7
47.3
44.8
5
2.0
8.9
4.5
4.4

220.2
177.0
53.5
123.5
43.1
40.5
6
2.0
16.1
11.8
4.3

215.7 209.9
176.3 173.6
54.3
54.6
121.8 119.3
39.4
36.3
36.8
33.9
7
4
2.0
1.9
6.0 -10.2
2.1 -11.1
3.8
.9

204.9
167.1
54.0
113.1
37.8
35.2
7
1.9
-3.4
-2.2
-1.2

199.8 201.1 205.4
163.3 160.5 159.9
50.3
53.0
52.2
110.3 108.3 109.6
45.5
36.5
40.6
34.1
37.8
43.0
.5
.5
.9
2.0
1.9
1.9
-1.3 -22.7 -15.4
.1 -21.1 -15.1
-.3
1 4 -1.6

213.0
161.8
48.5
113.3
51.2
48.6
.6
2.0
-4.5
34
-1.0

Durable goods
Nondurable goods
Services

Net exports of goods and services

1,479.4 1,475.0 1,513.8 1,485.4 1,489.3 1,496.4 1,461.4 1,464.2 1,477.9 1,510.1 1,512.5 1,525.8 1,506.9 1,485.8 1,489.3 1,485.7 1,480.7 1,490.1 1,521.4

18

Federal
National defense.
Nondefense
State and local

50.3

43.0

28.9

44.2

49.8

52.6

53.4

45.4

48.3

44.1

39.8

39.9

35.2

33.4

24.0

23.0

20.5

10.2

146.2
109.0

159.1
108.8

159.7
116.7

147.3
118.4

156.4
112.2

164.4
114.5

161.0
108.4

156.4
102.9

154.7
109.3

160.6
112.4

160.7
116.6

159.0
119.1

158.7
118.8

151.8
116.6

154.5
121.1

146.4
122.4

136.5
113.5

137.3
116.8

134.2
124.0

21

278.3

284.3

286.5

291.8

281.2

284.0

286.8

284.0

282.5

285.6

284.1

286.8

289.6

289.4

285.8

292.2

299.7

292.9

292.2

22
23
24
25

Government purchases of goods and
services.

37.2

19
20

Exports
Imports

102.1
67.4
34.8
176.2

106.4
70.0
36.4
177.9

110.4
73.6
36.8
176.1

116.6
78.8
37.8
175.2

103.4
68.2
35.2
177.8

105.8
69.9
35.9
178.1

109.3
70.1
39.3
177.5

106.2
70.0
36.1
177.8

104.2
69.9
34.3
178.3

107.3
71.0
36.3
178.3

107.9
73.3
34.6
176.2

111.8
74.4
37.4
175.0

114.5
75.7
38.7
175.1

114.5
75.5
39.1
174.9

110.3
77.8
32.5
175.4

116.9
80.4
36.5
175.3

124.4
81.4
43.0
175.2

118.4
82.7
35.7
174.5

118.2
85.5
32.7
174.0

III

IV

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

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

1979

1980

1981

1982

1979
IV

1980
I

II

IV

I

II

1983

1982

1981
III

III

IV

I

II

I

II

Gross national product

1

2,417.8 2,631.7 2,954.1 3,073.0 2,502.9 2,572.9 2,578.8 2,639.1 2,736.0 2,866.6 2,912.5 3,004.9 3,032.2 3,021.4 3,070.2 3,090.7 3,109.6 3,171.5 3,273.7

Final sales
Change in business inventories

2
3

2,403.5 2,641.5 2,935.6 3,097.5 2,505.5 2,574.5 2,575.7 2,664.5 2,751.1 2,855.7 2,897.5 2,971.4 3,017.9 3,047.1 3,081.4 3,095.6 3,165.9 3,210.9 3,284.2
49
25 4
56 4 -39.4 -10.6
14.3 -25.7 -11.2
14.3 -9.8
33.6
18.5 -24.5
-2.6
10.9
15.0
16
3.0
15 1

4

1,065.6 1,140.6 1,291.8 1,280.9 1,089.8 1,124.5 1,121.7 1,134.9 1,181.2 1,260.8 1,273.9 1,325.2 1,307.5 1,281.1 1,290.8 1,286.6 1,264.8 1,292.2 1,347.7

5
6

1,051.3 1,150.4 1,273.4 1,305.4 1,092.4 1,126.1 1,118.7 1,160.4 1,196.3 1,249.9 1,258.8 1,291.6 1,293.2 1,306.8 1,302.0 1,291.5 1,321.2 1,331.6 1,358.3
112 -4.9 -56.4 -39.4 -10.6
98
14.3 -25.7
14.3
18.5 -24.5
33.6
-2.6
10.9
15.0
-1.6
3.0 -25.4 -15.1

Goods
Final sales
Change in business inventories
Durable goods
Final sales ..
Change in business inventories

l

Nondurable goods
Final sales
Change in business inventories 1

7
8
9

464.8
454.3
10.5

477.9
482.0
-4.1

528.0 500.8
524.3 516.3
3.6 -15.5

462.4
464.7
-2.3

481.0
487.8
-6.8

457.4 471.4
462.5 481.6
-5.0 -10.1

501.6
496.0
5.6

519.0
520.4
-1.4

533.8
525.6
8.1

549.7
535.7
14.0

509.4 496.4
515.6 517.2
-6.3 -20.8

10
11
12

600.8
597.0
3.8

662.7
668.4
--5.7

763.9
749.1
14.8

627.4
627.7
-.3

643.5
638.3
5.2

664.3 663.5 679.6
656.2 678.8 700.4
8.1 -15.3
-20.8

741.8
729.6
12.3

740.1
733.2
6.9

775.4
755.9
19.6

798.2
777.6
20.6

Services

13

Structures .

14

780.1
789.1
-9.1

784.7
789.6
-4.9

514.3
516.8
-2.5

518.4 474.0 482.7
512.0 519.0 520.9
6.4 -45.0 -38.2

535.1
545.0
-9.9

809.5
810.6
-1.2

812.6
813.3
-.7

776.5 768.3 790.8
785.2 779.5 802.2
-11.4
-8.7 -11.3

1,089.7 1,225.2 1,374.2 1,511.1 1,139.5 1,173.7 1,204.9 1,243.5 1,278.6 1,319.2 1,349.7 1,392.5 1,435.5 1,460.6 1,496.4 1,527.2 1,560.5 1,588.4 1,626.7
262.5

265.9

288.0

281.0

273.6

274.7

252.2

260.7

276.2

286.5

288.9

287.3

289.2

279.7

283.0

276.9

284.3

290.9

299.2

Addenda:
Gross domestic purchases 2
Final sales to domestic purchasers 2
1
2

15
16

2,404.5 2,607.7 2,927.8 3,055.6 2,492.3 2,560.1 2,556.2 2,602.0 2,712.6 2,834.6 2,891.4 2,982.2 3,003.0 2,991.5 3,037.0 3,089.8 3,104.0 3,154.6 3,286.2
2,390.3 2,617.5 2,909.4 3,080.1 2,495.0 2,561.7 2,553.2 2,627.4 2,727.8 2,823.8 2,876.4 2,948.6 2,988.7 3,017.2 3,048.2 3,094.7 3,160.4 3,193.9 3,296.8

Prior to 1959, inventories held by construction establishments are included in line 12.
Gross domestic purchases equals gross national product less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.




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