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SURVEY OF CURRENT BUSINESS

February 1986

National Income and Product Accounts Tables
Revised estimates in this issue: Fourth quarter and annual 1985 (0, population of the United States, and per capita disposable personal
income in current and constant dollars. These tables include corrections to certain series in table 1.7 (1984 only), table 7.16 (1984 and 1984:1111985:11), and table 8.1 (1984 only). See "Errata: National Income and Product Accounts," page 16.
The full set of National Income and Product Accounts estimates shown regularly in this part of the SURVEY are now available on diskette
for $240 per year (12 updates). For more information, write to the Bureau of Economic Analysis (BE-54), U.S. Department of Commerce, Washington, DC 20230.

Table 1.1.—Gross National Product

Table 1.2.—Gross National Product in Constant Dollars

[Billions of dollars]

[Billions of 1982 dollars]
Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

1984

1985 r

1985

1984
III

IV

I

1984
III

II

IV

3,774.7 3,989.1 3,812.2 3,852.5 3,917.5 3,960.6 4,016.9 4,061.5

Gross national product
Personal consumption
expenditures
Durable goods
Nondurable goods
Services

2,423.0 2,582.1 2,439.0 2,480.1 2,525.0 2,563.3 2,606.1 2,634.0
331.1 361.1 331.1 341.5 351.5 356.5 376.0 360.3
872.4 912.3 876.6 883.1 895.7 910.2 914.5 928.6
1,219.6 1,308.8 1,231.3 1,255.4 1,277.8 1,296.6 1,315.6 1,345.1

Gross private domestic
investment
Fixed investment
Nonresidential
Structures
Producers' durable
equipment
Residential
Change in business
inventories
Nonfarm
Farm
Net exports of goods and
services
Exports
Imports

674.0
607.0
427.9
147.6

668.6
661.4
475.8
170.3

687.9
619.5
435.9
151.3

676.2
637.2
458.1
157.2

657.6
639.1
459.6
166.1

672.8
657.3
474.2
169.7

666.1
665.9
478.5
170.4

678.0
683.4
490.9
175.2

280.2
179.1

305.5
185.6

284.5
183.7

300.9
179.1

293.5
179.4

304.5
183.1

308.1
187.4

315.7
192.6

67.1
58.0
9.1

7.2
10.7
-3.5

68.3
62.8
5.5

39.0
36.4
2.6

18.5
14.2
4.3

15.5
10.8
4.7

-59.2 -76.9 -61.9 -72.2 -42.3 -70.3
384.6 370.2 391.4 389.5 379.6 369.2
443.8 447.0 453.3 461.7 421.9 439.5

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

736.8
312.9
237.0
76.0
423.9

815.3
355.0
262.0
93.0
460.3

747.3
318.5
236.2
82.2
428.8

768.4
332.9
247.5
85.4
435.5

777.2
334.4
249.5
84.9
442.8

794.8
337.8
256.0
81.7
457.1

1985 r

.2 -5.5
3.1
14.5
-2.9 -20.0

87.8
363.2
451.0

106.9
368.7
475.7

832.5
364.8
269.9
95.0
467.7

856.5
382.9
272.5
110.4
473.6

IV

III

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

II

I

III

IV

3,492.0 3,571.0 3,510.4 3,515.6 3,547.8 3,557.4 3,584.1 3,594.8

Gross national product
Personal consumption
expenditures
Durable goods
Nondurable goods
Services
Gross private domestic
investment
Fixed investment
Nonresidential
Structures
Producers' durable
equipment
Residential
Change in business
inventories
Nonfarm
Farm
Net exports of goods and
services
Exports
Imports

1985

1984

2,239.9 2,313.0 2,243.4 2,262.0 2,288.6 2,303.5 2,329.6 2,330.3
318.6 345.0 318.0 327.6 335.0 340.3 359.3 345.5
828.0 846.9 831.2 828.6 839.9 846.7 849.8 851.4
1,093.3 1,121.0 1,094.3 1,105.8 1,113.7 1,116.5 1,120.4 1,133.5
661.3
598.6
430.3
148.7

,

673.3
608.4
437.6
151.6

659.9
623.8
457.8
156.0

639.6
623.8
457.2
163.2

655.6
640.5
470.9
165.3

645.0
646.8
473.7
165.8

654.2
660.9
485.1
169.5

281.6
168.3

,

648.6
643.0
471.7
165.9
305.7
171.3

286.0
170.8

301.9
166.0

293.9
166.7

305.6
169.6

307.9
173.1

315.6
175.8

62.7
55.9
6.8

5.6
9.6
-4.0

64.9
60.4
4.5

36.1
34.6
1.5

15.8
11.8
4.0

15.1
10.7
4.5

-6.7
-1.8
14.3
1.6
-3.4 -21.0

-85.0 -106.7 -88.7 -100.2 -71.8 -101.1
370.9 360.1 376.9 377.3 368.7 358.2
455.9 466.8 465.6 477.5 440.5 459.3

119.8 -134.0
353.5 359.9
473.3 493.9

675.9
292.5
220.3
72.3
383.3

716.1
322.2
235.9
86.3
393.9

682.4
296.7
219.6
77.1
385.7

693.9
307.3
227.9
79.5
386.6

691.4

699.4

729.2

304.3
226.7
77.6
387.1

305.9
231.5
74.3
393.6

331.1
243.3
87.9
398.1

744.3
347.4
241.9
105.4
396.9

NOTE.—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 1.3.—Gross National Product by Major Type of Product

Table 1.4.—Gross National Product by Major Type of Product in
Constant Dollars

[Billions of dollars]

[Billions of 1982 dollars]

Seasonally adjusted at annual rates

1984

1985 '

1984
III

Nondurable goods
Final sales
Change in business
inventories
Services
Structures

IV

I

1984

67.1
.2 -5.5
68.3
18.5
15.5
39.0
7.2
1,585.8 1,640.1 1,595.8 1,604.0 1,628.4 1,636.0 1,650.8 1,645.4
1,518.8 1,633.0 1,527.5 1,565.0 1,609.8 1,620.5 1,650.6 1,650.9
67.1

,

7.2

679.5
642.5

708.9
703.4

68.3
680.9
641.4

37.0

5.5

39.4

906.3
876.2

931.3
929.6

915.0
886.1

39.0

18.5

15.5

.2

55

701.9
672.6

706.2
689.4

705.9
704.0

714.8
721.2

708.5
699.0

29.3
902.2
892.5

16.9
922.1
920.5

-6.4

930.2
916.5

9.5
936.9
951.9

1.8

935.9
929.4

13.7
6.6 -15.0
28.9
1.6
30.1
9.7
1.7
1,806.6 1,929.5 1,823.8 1,855.6 1,887.6 1,908.2 1,939.9 1,982.5
382.2 419.4 392.6 392.9 401.5 416.3 426.2 433.6

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




1985 r

IV r

III

II

3,774.7 3,989.1 3,812.2 3,852.5 3,917.5 3,960.6 4,016.9 4,061.5
3,707.6 3,981.9 3,743.9 3,813.5 3,899.0 3,945.0 4,016.7 4,066.9

Gross national product
Final sales
Change in business
inventories
Goods
Final sales
Change in business
inventories
Durable goods
Final sales
Change in business
inventories

Seasonally adjusted at annual rates

1985

1984
III

Gross national product
Final sales
Change in business
inventories
Goods
Final sales .
Change in business
inventories....
Durable goods
. .
Final sales
Change in business
inventories
Nondurable goods
Final sales
Change in business
inventories
Services
Structures

1985
IV

I

II

III

IV

3,492.0 3,571.0 3,510.4 3,515.6 3,547.8 3,557.4 3,584.1 3,594.8
3,429.3 3,565.4 3,445.5 3,479.5 3,532.0 3,542.3 3,585.8 3,601.5

64.9
36.1
62.7
5.6
15.8
15.1
18
67
1,506.4 1,533.5 1,514.4 1,510.5 1,530.3 1,531.5 1,541.0 1,531.0
1,443.7 1,527.8 1,449.5 1,474.4 1,514.6 1,516.3 1,542.7 1,537.7
62.7
655.4
619.9

5.6
676.1
671.3

64.9
655.4
617.6

36.1

15.8

15.1

672.6
644.8

673.1
657.2

674.2
672.6

35.5

4.8
857.3
856.5

37.9
859.0
832.0

27.9

15.8

1.6

837.9
829.6

857.3
857.3

857.3
843.8

851.0
823.9

-1.8
680.3
686.4

677.0
669.0

-6.7

-6.1
860.7
856.3

8.0
854.0
868.7

1 13.5
27.1
4.4
14 7
8.2
.8
27.0
1,615.4 1,643.4 1,618.7 1,630.1 1,636.0 1,633.9 1,643.4 1,660.3
370.2 394.2 377.2 375.0 381.5 392.0 399.7 403.5

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