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SURVEY OF CURRENT BUSINESS

May 1996

7

NATIONAL INCOME AND PRODUCT ACCOUNTS
Selected NIPA Tables
New estimates in this issue: "Advance" 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 1.10 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 comprehensive revision were
in the January/February 1996 issue of the SURVEY; additional tables were in the April issue, and the remaining
tables will appear in the June issue. Summary NIPA series back to 1959 were also in the January/February issue.
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

1996

1995

I

II

Seasonally adjusted at annual rates

III

IV

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 7,430.7
Personal consumption
4,698.7 4,924.3 4,796.0 4,836.3 4,908.7 4,960.0 4,992.3 5,061.6
exoenditures
580.9 606.4 602.7 593.0 604.0 615.8 612.8 622.6
Durable goods
1,429.7 1,486.1 1,459.0 1,471.6 1,486.9 1,491.4 1,494.8 1,520.7
Nondurable goods
2,688.1 2,831.8 2,734.4 2,771.7 2,817.9 2,852.8 2,884.7 2,918.3
Services
Gross private domestic
1,014.4 1,065.3 1,050.1 1,072.0 1,050.3 1,074.8 1,064.0 1,079.4
investment
Fixed investment
954.9 1,028.2 991.4 1,013.9 1,016.3 1,036.6 1,046.2 1,069.6
667.2 738.5 697.9 723.6 734.4 746.3 749.7 769.0
Nonresidential
180.2 199.7 188.8 194.5 197.6 202.5 204.0 207.7
Structures
Producers' durable
487.0 538.8 509.1 529.0 536.8 543.8 545.7 561.2
equipment
287.7 289.8 293.5 290.4 281.9 290.3 296.5 300.7
Residential
Change in business
38.2
17.8
9.8
58.7
58.1
34.0
59.5
37.0
inventories
Net exports of goods and
-96.4 -102.3 -99.7 -106.6 -122.4 -100.8 -79.3 -95.0
services
722.0 804.5 763.6 778.6 796.9 812.5 829.9 832.7
Exports
509.1 581.1 545.4 558.9 574.7 588.0 602.9 601.5
Goods
212.9 223.4 218.2 219.7 222.2 224.6 227.0 231.2
Services
818.4 906.7 863.3 885.1 919.3 913.3 909.2 927.8
Imports
677.3 758.9 720.9 740.3 771.0 765.0 759.2 773.7
Goods
141.1 147.9 142.3 144.8 148.3 148.3 150.1 154.0
Services
Government consumption
expenditures and gross
1,314.7 1,358.5 1,333.5 1,346.0 1,359.9 1,364.5 1,363.5 1,384.7
investment
516.3 516.7 520.9 519.9 522.6 516.7 507.8 519.2
Federal
352.0 345.7 349.6 347.7 352.3 345.6 337.2 346.7
National defense
164.3 171.0 171.2 172.1 170.3 171.1 170.6 172.5
Nondefense
798.4 841.7 812.6 826.1 837.3 847.7 855.7 865.5
State and local
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.




1994

1995

1994

IV

1995

I

II

1996

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 6,823.6
Personal consumption
4,471.1 4,578.5 4,522.3 4,530.9 4,568.8 4,600.4 4,614.1 4,653.5
expenditures
562.0 580.8 579.9 566.9 576.6 589.7 590.1 600.2
Durable goods
1,390.5 1,422.5 1,408.4 1,416.8 1,423.5 1,425.4 1,424.2 1,435.2
Nondurable goods
2,519.4 2,576.1 2,535.1 2,548.1 2,569.6 2,586.3 2,600.4 2,618.9
Services
Gross private domestic
investment
979.6 1,011.3 1,006.3 1,024.2 998.3 1,016.2 1,006.7 1,022.5
Fixed investment
921.1 976.9 949.7 969.6 966.1 981.0 990.7 1,014.5
Nonresidential
652.1 715.0 679.7 704.4 710.6 719.7 725.3 746.3
Structures
168.8 181.1 174.3 178.5 180.0 182.7 183.1 185.7
Producers' durable
484.1 535.2 506.4 527.1 531.9 538.2 543.5 562.2
equipment
Residential
268.9 262.8 270.3 265.9 256.6 262.3 266.4 269.3
Change in business
inventories
58.9
33.7
57.3
30.6
54.5
33.2
7.9
16.5
Net exports of goods and
-108.1 -114.2 -105.8 -119.0 -126.8 -114.3 -96.6 -111.0
services
715.1 774.8 751.0 755.8 764.3 779.1 799.8 805.2
Exports
511.4 566.8 543.9 548.9 557.8 570.7 589.8 592.1
Goods
204.1 208.9 207.7 207.6 207.4 209.4 211.1 214.2
Services
Imports
823.3 888.9 856.8 874.9 891.2 893.4 896.4 916.2
684.0 747.0 718.6 732.8 750.5 752.2 752.8 768.0
Goods
139.4 142.3 138.5 142.4 141.1 141.6 143.9 148.5
Services
Government consumption
expenditures and gross
investment
1,259.9 1,260.7 1,266.6 1,263.0 1,265.8 1,263.6 1,250.4 1,256.1
489.7 472.7 489.1 481.3 479.9 472.7 456.8 464.3
Federal
National defense
336.9 320.0 331.3 325.3 326.1 319.3 309.3 314.9
Nondefense
152.6 152.4 157.5 155.6 153.6 153.1 147.2 149.0
770.5 788.6 777.7 782.2 786.3 791.5 794.4 792.5
State and local
-1.4
Residual
-.6
-5
.c
-.6
1.0
-2.0
-2.8
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

8 • May 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

III

IV

1994

1995

I

IV

Gross domestic product . 6,931.4 7,245.8 7,080.0 7,147.8 7,196.5 7,298.5 7,340.4 7,430.7
Final sales of domestic
6,871.8 7,208.8 7,021.3 7,089.7 7,162.5 7,260.3 7,322.6 7,420.9
product
Change in business
38.2
9.8
34.0
17.8
37.0 58.7
58.1
59.5
inventories
2,593.8 2,697.4 2,659.6 2,675.4 2,676.3 2,722.8 2,715.0 2,752.5
Goods
2,534.2 2,660.3 2,600.9 2,617.3 2,642.3 2,684.5 2,697.1 2,742.7
Final sales
Change in business
38.2
9.8
34.0
17.8
58.1
59.5 37.0 58.7
inventories
1,117.8 1,179.8 1,146.4 1,173.0 1,162.6 1,191.7 1,191.8 1,192.9
Durable goods
1,085.9 1,144.9 1,113.3 1,118.6 1,134.0 1,162.5 1,164.5 1,186.4
Final sales
Change in business
29.2
6.5
28.5
27.3
54.4
34.8 33.1
31.9
inventories
1,476.0 1,517.6 1,513.2 1,502.4 1,513.7 1,531.1 1,523.2 1,559.6
Nondurable goods
1,448.3 1,515.4 1,487.6 1,498.7 1,508.3 1,522.1 1,532.6 1,556.3
Final sales
Change in business
5.4
3.3
9.1
-9.4
2.2 25.6
3.7
27.6
inventories
3,742.3 3,920.8 3,806.3 3,852.6 3,904.5 3,943.2 3,983.1 4,027.5
Services
595.3 627.6 614.1 619.8 615.7 632.6 642.3 650.7
Structures
Addenda:
264.8 262.4 271.2 269.9 257.5 258.4 263.6 241.0
Motor vehicle output
Gross domestic product less
6,666.5 6,983.4 6,808.8 6,877.9 6,939.0 7,040.1 7,076.8 7,189.6
motor vehicle output
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.

1996

1995

II

I

III

I

IV

Gross domestic product . 6,604.2 6,739.0 6,691.3 6,701.6 6,709.4 6,768.3 6,776.5 6,823.6
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 6,815.5
Change in business
33.7
57.3
33.2
inventories
58.9
54.5
30.6
16.5
7.9
-1.2
-.4
-1.0
.6
1.4
Residual
1.8
.2
-.5
Goods
2,524.3 2,590.8 2,578.5 2,580.3 2,573.2 2,608.2 2,601.3 2,626.7
2,465.6 2,556.3 2,521.8 2,525.6 2,541.1 2,573.1 2,585.5 2,619.0
Final sales
Change in business
33.7
57.3
54.5
33.2
inventories
58.9
30.6
16.5
7.9
1,099.2 1,156.3 1,129.8 1,149.7 1,139.8 1,166.0 1,169.8 1,172.4
Durable goods
Final sales
1,068.0 1,123.5 1,097.4 1,097.9 1,112.2 1,138.8 1,145.1 1,167.8
Change in business
31.6
30.6
32.8
51.6
26.7
inventories
27.0
25.9
5.5
Nondurable goods
1,425.6 1,435.4 1,449.3 1,431.6 1,434.2 1,443.2 1,432.6 1,455.3
1,398.0 1,433.5 1,424.8 1,428.2 1,429.4 1,435.2 1,441.3 1,452.3
Final sales
Change in business
/
28.2
25.6
2.2
3.6
5.9 -10.0
inventories
2.3
3,521.7 3,578.5 3,545.9 3,552.6 3,574.7 3,588.7 3,597.9 3,614.6
Services
Structures
559.8 571.7 569.1 570.8 563.3 573.6 579.3 584.3
_c
-1.4
-2.1
-3.1
-1.7
Residual
-.9 -3.0
-3.2
Addenda:
Motor vehicle output
245.1 234.9 249.5 244.2 230.6 230.6 234.0 213.7
Gross domestic product less
motor vehicle output
6,358.7 6,504.1 6,441.3 6,457.0 6,478.8 6,537.8 6,542.6 6,610.6
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 1.5.—Relation of Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers

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

[Billions of dollars]

[Billions of chained (1992) 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 7,430.7
722.0

804.5

763.6

778.6

796.9

812.5

829.9

832.7

818.4

906.7

863.3

885.1

919.3

913.3

909.2

927.8

7,027.8 7,348.1 7,179.6 7,254.3 7,318.9 7,399.3 7,419.7 7,525.7
59.5

37.0

58.7

58.1

34.0

38.2

17.8

9.8

6,968.3 7,311.0 7,121.0 7,196.2 7,284.9 7,361.0 7,401.9 7,515.9

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

6,604.2 6,739.0 6,691.3 6,701.6 6,709.4 6,768.3 6,776.5 6,823.6

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

805.2

856.8

774.8

823.3

874.9

891.2

893.4

896.4

916.2

6,709.7 6,849.7 6,794.0 6,816.9 6,832.0 6,879.4 6,870.5 6,931.2
58.9

33.7

57.3

54.5

30.6

33.2

16.5

7.9

6,651.6 6,815.4 6,737.9 6,762.7 6,799.9 6,844.4 6,854.5 6,923.2

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.

Table 1.7.—Gross Domestic Product by Sector

Table 1.8—Real Gross Domestic Product by Sector

[Billions of dollars]

[Billions of chained (1992) dollars]

Gross domestic product . 6,931.4 7,245.8 7,080.0 7,147.8 7,196.5 7,298.5 7,340.4 7,430.7
5,794.0 6,070.2 5,932.6 5,986.0 6,024.7 6,118.3 6,151.9 6,231.5
Business1
5,711.75,991.6 5,852.6 5,909.3 5,947.9 6,039.7 6,069.7 6,142.3
Nonfarml
5,118.65,367.1 5,248.6 5,296.0 5,327.4 5,414.7 5,430.3 5,500.9
Nonfarm less housing
593.1 624.6 603.9 613.3 620.5 625.1 639.4 641.4
Housing
89.2
82.2
76.8
78.6
82.3
78.6
80.0 76.6
Households and institutions ... 310.3 323.0 313.4 316.7 321.3 324.3 329.6 332.8
11.0
11.3 11.5
11.1
11.2
10.8 10.9
10.8
Private househojds
299.5 311.8 302.6 305.8 310.3 313.1 318.2 321.3
Nonprofit institutions
2
866.3
827.0 852.6 834.0 845.1 850.4 855.9
General government
275.7 278.2 274.3 278.6 278.9 278.8 276.8 278.5
Federal
551.4 574.4 559.7 566.5 571.6 577.1 582.2 587.8
State and local
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 l
Nonfarm less housing
Housina
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 6,691.3
5,659.1 5,612.0
5,582.4 5,530.0
5,008.7 4,964.5
573.6 565.6

6,701.6 6,709.4 6,768.3
5,621.6 5,628.4 5,685.6
5,542.4 5,551.2 5,611.2
4,973.4 4,979.6 5,037.7
5690 571 6 5735

6,776.5
5,700.7
5,624.7
5,044.2
5805

6,823.6
5,751.0
5,671.0
5,092.0

83.9

76.4

82.1

79.1

76.9

73.9

75.6

5791
79.8

296.2

302.5

298.8

300.1

301.7

303.1

305.1

305.1

10.2

10.1

10.1

10.0

10.1

10.2

10.2

10.3

286.0
782.4
2568
5258
-7

292.4
777.7
2465
531 7
-4

288.7
780.8

290.1 291.6
780.1 779.7
2521
2502 2491
5290 5302 5309
-8
-4
-4

293.0
779.9
2477
5325
2

294.9 294.9
771.3 768.0
2388 2388
5330 5297
_7
-1 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 3.8B.
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