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SURVEY OF CURRENT BUSINESS

December 1986

National Income and Product Accounts Tables
New estimates in this issue: Third quarter 1986, revised (r). Estimates of capital consumption allowances, corporate profits before tax, proprietors' income, and related estimates for the first three quarters of 1986 have been adjusted to reflect the retroactive provisions of the Tax
Reform Act of 1986. The following tables were affected: 1.9, 1.14, 1.16, 3.2, 3.3, 5.1, 6.3B, 6.18B, and 7.18. See page xx.
Estimates for 1929-82 are in The National Income and Product Accounts, 1929-82: Statistical Tables (Stock No. 003-010-00174-7, price
$23.00). Estimates for 1983-1985 are in the July 1986 SURVEY. These publications are available from the Superintendent of Documents and
Commerce Department District Offices; see addresses inside front cover.
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

1984

1985

1985
II

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

III

Seasonally adjusted at annual rates

1984

1986

A

IV

I

nr

II

3,765.0 3,998.1 3,965.0 4,030.5 4,087.7 4,149.2 4,175.6 4,240.7
2,428.2 2,600.5 2,576.0 2,627.1 2,667.9 2,697.9 2,732.0 2,799.8
331.2
359.3 354.0 373.3 362.0 360.8 373.9 414.5
870.1
905.1 902.3 907.4 922.6 929.7 928.4 932.8
1,227.0 1,336.1 1,319.7 1,346.4 1,383.2 1,407.4 1,429.8 1,452.4
662.1
598.0
416.5
139.3

661.1
650.0
458,2
154.8

667.1
648.0
459.2
156.1

657.4
654.3
459.8
155.0

669.5
672.6
474.0
157.2

708.3
664.4
459.2
154.6

687.3
672.8
457.5
141.5

675.8
680.3
459.0
139.5

277.3
181.4

303.4
191.8

303.1
188.8

304.7
1945

316.8
198.6

304.6
205.3

316.0
215.3

319.5
221.3

64.1
56.6
7.5

11.1
12.2
-1.1

19.1
10.4
8.6

3.1
3.2
1

31
16.7
19 9

43.8
41.2
2.7

14.5
45
10.5 -10.3
5.8
3.9

-58.7 -78.9 -77.1 -83.7 -105.3 -93.7 -104.5 -108.9
382.7 369.8 370.0 362.3 368.2 374.8 363.0 370.8
441.4
448.6 447.1 446.0 473.6 468.5 467.5 479.7
733.4
311.3
235.0
76.2
422.2

815.4
354.1
259.4
94.7
461.3

799.0
340.9
255.1
85.8
458.1

829.7
360.9
265.5
95.5
468.8

855.6
380.9
268.0
112.9
474.7

836.7
355.7
266.4
89.3
480.9

860.8
367.6
278.4
89.2
493.3

874.0
369.3
286.8
82.6
504.7

1985

1985
II

III

Gross national product
3,489.9 3,585.2 3,567.6 3,603.8
Personal consumption
expenditures
2,246.3 2,324.5 2,311.9 2,342.0
Durable goods. ..
318.9 343.9 338.8 357.4
Nondurable goods
828.6 841.6
841.3 843.8
Services
1,098.7 1,139.0 1,131.8 1,140.8
Gross private domestic
investment
652.0 647.7 655.6 643.8
Fixed investment
592.8 638.6 638.1 643.1
Nonresidential
422.2 461.4
463.0 463.1
154.1 152.3
Structures
141.3
152.2
Producers' durable
equipment
280.9 309.2 308.9 310.9
170.6
177.2
175.1 180.0
Residential.. ..
Change in business
17.4
.7
inventories
59.2
9.0
1.4
Nonfarm
54.3
9.6
10.9
-.7
Farm
7.8
4.9 -1.9
Net exports of goods and
services
-83.6 -108.2 108.1 -113.8
355.8
Exports
369.7 362.3 361.2
Imports
453.2 470.5 469.3 469.6
Government purchases of goods
and services
675.2 721.2
708.3 731.8
Federal
291.7
323.6 311.4 329.9
National defense
219.4
235.7 233.5 242.2
Nondefense
87.6
72.3
87.8
77.9
State and local
383.5 397.6 396.9 401.9

1986
IV

I

II

IIF

3,622.3 3,655.9 3,661.4 3,686.4
2,351.7 2,372.7 2,408.4 2,448.0
391.6
347.0 345.4 357.1
847.2 860.6 877.3 875.4
1,157.5 1,166.6 1,174.0 1,181.0
653.2
658.4
476.9
152.4

684.0
644.1
457.8
148.1

664.7
649.6
456.8
132.9

651.3
651.6
454.4
129.5

324.5
181.5

309.7
186.3

323.9
192.7

324.9
197.2

52
16.1
213

39.9
37.0
2.9

15.1
11.0
4.1

-.3
-8.6
8.3

-132.0 -125.9 -153.9 -163.3
362.9 369.2 359.8 371.2
513.6
534.5
494.8 495.1
749.4
347.2
239.3
107.9
402.2

725.2
320.4
238.7
81.7
404.8

742.2
328.9
249.3
79.5
413.3

750.4
330.9
259.4
71.5
419.5

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

Seasonally adjusted at annual rates

1984

II

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

III

1984

1986

1985

1985

IV

I

II

-4.5
14.5
43.8
3.1 -3.1
11.1
19.1
64.1
1,576.7 1,630.2 1,622.4 1,642.7 1,644.1 1,669.0 1,661.5 1,680.2
1,512.6 1,619.1 1,603.3 1,639.7 1,647.2 1,625.2 1,647.1 1,684.7

ii.i

64.1
675.0
635.9

700.2
693.6

19.1
693.1
690.8

3.1
710.3
713.0

-3.1
709.1
699.6

43.8
710.6
682.0

14.5
703.1
703.2

45
730.1
745.7

39.2
901.7
876.7

6.6
930.0
925.5

2.3
929.3
912.6

-2.7
932.5
926.7

9.5
935.0
947.7

28.6
958.4
943.1

1

958.5
943.9

156
950.1
939.0

11.1
14.6
15.3
127
16.7
5.8
25.0
4.5
1,813.2 1,959.8 1,935.4 1,971.9 2,025.5 2,057.7 2,087.4 2,125.2
418.1 422.6 426.7 435.3
407.2 415.9
408.1
375.1

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




II

IIP

3,765.0 3,998.1 3,965.0 4,030.5 4,087.7 4,149.2 4,175.6 4,240.7
3,700.9 3,987.0 3,945.9 4,027.4 4,090.8 4,105.4 4,161.2 4,245.2

1985

1985

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

III

1986
IV

I

II

IIIr

3,489.9 3,585.2 3,567.6 3,603.8 3,622.3 3,655.9 3,661.4 3,686.4
3,430.7 3,576.2 3,550.2 3,603.1 3,627.5 3,616.1 3,646.3 3,686.7

17.4
-.3
.7 -5.2
9.0
59.2
15.1
39.9
1,503.1 1,533.2 1,526.0 1,544.2 1,541.7 1,563.6 1,562.8 1,568.0
1,443.9 1,524.2 1,508.6 1,543.6 1,546.9 1,523.7 1,547.6 1,568.3
59.2
653.4
615.9

9.0
675.8
670.0

17.4
668.3
666.6

.7
686.5
689.3

-5.2
688.7
680.2

39.9
688.6
662.6

15.1
687.5
688.3

37.5
849.7
828.0

5.9
857.4
854.2

1.7
857.7
841.9

29
857.8
854.2

8.4
853.0
866.7

26.0
875.0
861.1

-.7 -14.4
875.2 853.8
859.4 839.7

-.3
714.2
728.6

3.2
15.7
21.7
15.9
14.1
3.5 -13.6
13.9
1,623.0 1,667.6 1,656.5 1,668.7 1,692.1 1,703.0 1,712.0 1,727.2
363.9 384.4 385.1 390.9 388.5 389.4 386.6 391.3

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

NOTE.—Some estimates for the first three quarters of 1986
have been adjusted to reflect the retroactive provisions of the
Tax Reform Act of 1986. See page 2.

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