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40

SURVEY OF CURRENT BUSINESS

July 1990

1. National Product and Income
Table 1.1.—Gross National Product
[Billions of dollars]
Seasonally adjusted at annual rates
Line

1986

1987

1988

1989

1988

1987

1986

I

IV

II

III

IV

1990

1989

II

I

III

IV

I

II

HI

IV

I

II

Gross national product

1

4,231.6 4,515.6 4,873.7 5,200.8 4,297.3 4,391.6 4,471.6 4,551.7 4,647.6 4,735.8 4,831.4 4,917.9 5,009.8 5,101.3 5,174.0 5,238.6 5,289.3 5375.4 5,451.6

Personal consumption expenditures !

2

2,797.4 3,009.4 3,238.2 3,450.1 2,868.5 2,919.5 2,987.2 3,051.6 3,079.1 3,147.7 3,204.3 3,268.2 3,332.6 3371.7 3,425.9 3,484.3 3^18.5 3388.1 3,6193

3
4
5

406.0 423.4 457.5 474.6 422.0 403.3 421.4 441.3 427.4 448.9 453.7 454.2 473.1 466.4 473.6 487.1 471.2 492.1 479.6
942.0 1,001.3 1,060.0 1,130.0 952.1 980.1 996.8 1,008.4 1,019.9 1,029.8 1,049.1 1,073.2 1,088.0 1,106.7 1,127.1 1,137.3 1,148.8 1,174.7 1,171.5
1,449.5 1,584.7 1,720.7 1,845.5 1,494.4 1,536.1 1,568.9 1,601.9 1,631.8 1,668.9 1,701.5 1,740.7 1,771.5 1,798.6 1,825.1 1,859.8 1,898.5 1,921.3 1,968.4

Durable goods
Nondurable goods

6

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

648.8

676.7

689.5

690.6

741.4

729.2

746.0

765.6

747.5

769.7

776.7

775.8

762.7

747.2

772.4

742.9
511.9
146.2
365.7
231.0
28.3
23.3
5.0

660.9
435.8
133.7
302.2
225.1
-12.2
-8.0
-4.2

650.9
427.5
131.2
296.3
223.4
25.8
33.0
-7.3

667.8
440.4
132.1
308.3
227.4
21.7
22.3
-.7

680.5
454.1
134.2
319.8
226.4
10.1
14.0
-3.9

685.7
457.5
137.2
320.4
228.1
55.7
59.6
-3.9

700.8
473.1
135.5
337.6
227.7
28.3
26.1
2.2

723.8
491.3
140.8
350.5
232.6
22.2
23.0
-.8

727.4
493.8
142.2
351.6
233.6
38.2
35.0
3.2

731.3
495.3
141.2
354.0
236.0
16.2
35.0
-18.8

743.1
506.5
146.5
360.0
236.6
26.6
16.7
9.9

744.0
511.4
144.2
367.2
232.7
32.7
26.1
6.6

746.9
518.1
147.0
371.0
228.9
28.9
26.2
2.6

737.7
511.8
147.1
364.7
225.9
25.0
24.1
.9

758.9
523.1
148.8
374.3
235.9
-11.8
-17.0
5.3

741.2
513.5
146.9
366.6
227.7
31.2
30.1
1.1

-97.4 -114.7

-74.1

-46.1 -108.9 -109.1 -115.8 -119.0 -115.0

-82.0

-74.3

-69.6

-70.3

-48.5

-51.3

-493

-35.3

-30.0

-27.0

396.5
493.8

449.6
564.3

552.0
626.1

626.2
672.3

402.4
511.3

416.7
525.8

438.3
554.1

457.6
576.6

485.8
600.7

525.7
607.8

540.4
614.7

558.7
628.3

583.1
653.5

609.7
658.2

628.8
680.0

623.7
673.0

642.8
678.1

661.3
691.3

661.7
688.7

18

Net exports of goods and services '

771.2

720.8
488.4
139.9
348.4
232.5
26.2
29.8
-3.6

872.2

921.4

962.5 1,025.6

888.9

904.5

910.7

928.5

942.0

940.9

955.4

953.8 1,000.0 1,008.5 1,022.7 1,027.8 1,043.3 1,070.1 1,086.7

, 19
20
... 21
22

.

747.1

671.2
444.9
133.7
311.2
226.3
28.3
32,3
-3.9

16
17

Producers' durable equipment
Residential
Change in business inventories
Nonfarm
Farm

699.5

652.5
435.2
139.0
296.2
217.3
6.9
8.6
-1.8

15

Fixed investment
Nonresidential

659.4

7
8
9
10
11
12
13
14

Gross private domestic investment

366.5
277.8
88.7
505.7

381.3
294.6
86.7
540.2

380.3
297.2
83.1
582.3

400.0
301.1
98.9
625.6

368.8
280.7
88.1
520.1

375.6
287.8
87.8
528.9

376.6
293.9
82.7
534.2

384.8
300.7
84.1
543.7

388.2
296.0
92.2
553.9

374.8
296.6
78.3
566.1

377.7
297.1
80.6
577.7

367.4
295.5
71.9
586.4

401.1
299.6
101.6
598.9

398.3
298.2
100.1
610.2

402.5
300.6
101.9
620.2

399.2
306.3
93.0
628.6

399.9
299.2
100.7
643.4

410.6
307.2
103.4
659.6

420.7
309.5
111.2
666.0

1. See the box on page 21 of the July 1989 SURVEY OF CURRENT BUSINESS.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.

Table 1.2.—Gross National Product in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line

1986

1987

1988

1989

1987

1986

IV

I

II

IV

I

II

1990

1989

1988

III

III

IV

I

II

III

IV

I

II

Gross national product

1

3,717.9 3,845.3 4,016.9 4,117.7 3,733.6 3,781.2 3,820.3 3,858.9 3,920.7 3,970.2 4,005.8 4,032.1 4,0593 4,095.7 4,112.2 4,129.7 4,133.2 4,150.6 4,163.2

Personal consumption expenditures ]

2

2,446.4 2315.8 2,606.5 2,656.8 2,477.8 2,482.2 2,509.9 2336.6 2334.2 2,576.8 2394.1 2,616.4 2,638.8 2,636.7 2,6453 2,6753 2,669.9 2,6773 2,675.2

3
.. 4
5

384.4 391.4 418.2 428.0 397.5 377.6 390.4 405.1 392.6 412.4 416.2 415.1 429.0 422.4 428.2 438.1 423.1 437.6 427.7
918.5 914.6 923.4 923.0 915.6 905.4
878.1 892.7 909.4 919.9 883.5 890.1 892.3 893.3 895.2 900.9 905.3 914.4 917.1
1,183.8 1,231.6 1,278.9 1,309.0 1,196.8 1,214.5 1,227.2 1,238.2 1,246.4 1,263.5 1,272.6 1,286.8 1,292.8 1,295.8 1,302.5 1,313.8 1,323.8 1,324.2 1,342.2

Durable goods
Nondurable goods
Services '

..

. . .

6

Fixed investment
Nonresidential

.

Producers' durable equipment
Residential
Change in business inventories
Nonfarm

669.0

705.7

716.9

615.2

644.7

659.1

665.7

706.6

698.4

705.1

723.0

696.2

717.0

719.1

7223

709.1

700.7

7143

634.1
438.4
130.1
308.3
195.7
5.6
8.0
-2.4

646.2
449.8
122.8
327.0
196.4
22.8
28.7
-5.9

682.1
487.2
122.4
364.8
194.9
23.6
26.5
-2.9

693.1
506.1
122.4
383.7
187.0
23.8
18.7
5.0

636.0
435.7
123.4
312.3
200.3
-20.8
-10.9
-9.9

627.4
431.3
122.2
309.1
196.1
17.3
27.8
-10.5

642.0
443.8
121.7
322.2
198.2
17.0
17.7
-.7

657.1
461.6
122.9
338.7
195.5
8.6
14.1
-5.5

658.1
462.3
124.4
337.9
195.8
48.4
55.4
-6.9

667.4
475.0
121.0
353.9
192.4
31.0
28.8
2.2

688.3
492,6
123.9
368.8
195.6
16.9
19.2
-2.3

690.4
494.6
123.8
370.8
195.8
32.6
31.0
1.6

682.2
486.6
121.0
365.6
195.6
14.0
27.2
132

690.9
497.1
123.2
374.0
193.8
26.1
16.4
9.7

693.6
505.5
120.6
384.9
188.1
25.5
21.5
4.0

697.7
513.3
122.7
390.6
184.4
24.6
21.7
2.9

690.2
508.4
123.1
385.4
181.8
18.9
15.3
3.6

702.9
514.6
123.8
390.8
188.3
-2.2
-8.2
6.0

688.1
506.5
121.9
384.6
181.6
26.2
27.3
-1.0

-129.7 -1183

-75.9

-54.1 -135.4 -121.4 -118.1 -123.2 -111.3

-773

-72.2

-78.5

75.7

-51.1

-53.3

-64.1

-47.9

-35.4

-463

16
17

397.1
526.9

451.8
570.3

534.7
610.6

593.3
647.4

406.5
541.9

418.8
540.2

440.1
558.2

461.2
584.4

487.0
598.3

521.7
599.0

527.3
599.5

534.3
612.8

555.3
631.0

576.1
627.3

593.2
646.5

592.5
656.6

611.6
659.4

628.1
663.5

622.2
668.7

18

Net exports of goods and services *

761.6

779.1

7803

798.1

776.0

775.7

769.5

779.8

791.3

772.4

778.7

771.2

799.9

793.2

801.0

796.2

802.2

807.9

820.2

19
20
21
22

334.1
252.1
82.0
427.5

339.6
265.1
74.5
439.5

328.1
260.7
67.5
452.4

334.9
256.3
78.7
463.2

342.4
255.8
86.6
433.6

338.6
259.5
79.1
437.2

332.2
264.0
68.1
437.3

340.0
270.7
69.3
439.8

347.7
266.0
81.7
443.6

324.5
262.2
62.3
447.9

327.3
261.3
66.0
451.4

318.4
258.0
60.4
452.7

342.3
261.1
81.2
457.5

334.2
253.7
80.4
459.0

339.9
255.7
84.2
461.1

333.0
260.2
72.8
463.2

332.7
255.5
77.2
469.5

333.0
254.4
78.6
475.0

345.0
256.5
88.5
475.2

15

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

639.6

7
8
9
10
11
12
13
14

Gross private domestic investment

.
.

1. See the box on page 21 of the July 1989 SURVEY OF CURRENT BUSINESS.
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