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SURVEY OF CURRENT BUSINESS D-2 • National Data February 1998 National Data A. Selected NIPA Tables The tables in this section include the most recent estimates of gross domestic product and its components; these estimates were released on January 30,1998 and include the "advance" estimates for the fourth quarter of 1997 and for the year 1997. 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. Most of the "annual only" NIPA tables were presented in the August 1997 SURVEY OF CURRENT BUSINESS; tables 8.20-8.26 were presented in the September 1997 SURVEY; and the remaining "annual only" tables—tables 3.15-3.20 and 9.1-9.6—were presented in the October 1997 SURVEY. The selected NIPA tables are available on printouts or diskettes from BEA. To order NIPA subscription products using Visa or MasterCard, call the BEA Order Desk at 1-800-704-0415 (outside the United States, 202-606-9666). The news release on gross domestic product (GDP) is available at the time of release, and the selected NIPA tables are available later that day, on STAT-USA'S Economic Bulletin Board and Internet services; for information, call STAT-USA on 202-482-1986. In addition, the GDP news release is available the afternoon of the day of the release, and the selected NIPA tables are available about two weeks later (when the SURVEY is sent to the printer), on BEA'S Internet site <http://www.bea.doc.gov>. i. National Product and IncomeTable 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 1996 1996 1997 III Gross domestic 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 Net exports of goods and services Exports Goods Services Imports . Goods Services Government consumption expenditures and gross investment Federal National defense Nondefense State and local IV I II III 5,207.6 5,488.6 5,227.4 5,308.1 5,405.7 5,432.1 5,527.4 5,589.3 634.5 659.4 634.5 638.2 658.4 644.5 667.3 667.6 1,534.7 1,592.7 1,538.3 1,560.1 1,587.4 1,578.9 1,600.8 1,603.9 3,038.4 3,236.5 3,054.6 3,109.8 3,159.9 3,208.7 3,259.3 3,317.9 1,116.5 1,237.6 1,149.2 1,151.1 1,193.6 1,242.0 1,250.2 1,264.5 1,090.7 1,173.0 1,112.0 1,119.2 1,127.5 1,160.8 1,201.3 1,202.4 781.4 845.4 798.6 807.2 811.3 836.3 872.0 862.3 215.2 230.2 217.7 227.0 227.4 226.8 232.9 233.7 566.2 309.2 615.2 327.5 580.9 313.5 580.2 312.0 583.9 316.2 609.5 324.6 639.1 329.3 628.5 340.1 25.9 64.6 37.1 31.9 66.1 81.1 48.9 62.1 -88.6 -98.8 -94.8 -96.7 -114.0 870.9 958.8 617.5 687.1 253.3 271.7 965.7 1,055.5 809.0 885.4 156.7 170.1 863.7 609.7 254.0 977.6 820.2 157.5 -88.7 -111.3 -S7.9 904.6 922.2 960.3 965.8 986.9 640.5 656.2 690.0 691.1 711.1 264.2 266.0 270.3 274.8 275.8 993.2 1,021.0 1,049.0 1,077.1 1,074.8 834.6 855.8 880.1 905.6 900.0 158.6 165.2 168.9 171.6 174.8 1,406.7 1,453.9 1,413.5 1,422.3 1,433.1 1,449.0 1,457.9 1,475.6 520.0 352.8 167.3 886.7 524.8 350.8 174.0 929.1 521.6 354.8 166.8 891.9 517.6 350.6 167.0 904.7 516.1 343.3 172.8 917.0 526.1 350.6 175.5 923.0 525.7 352.1 173.6 932.3 1997 531.1 357.1 174.0 944.4 1996 III IV 7,636.0 8,083.4 7,676.0 7,792.9 7,933.6 8,034.3 8,124.3 8,241.5 NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. Seasonally adjusted at annual rates 1996 1997 Gross domestic 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 Net exports of goods and services Exports Goods Services Imports Goods Services Government consumption expenditures and gross investment Federal National defense Nondefense State and local Residual 1997 IV I II III IV 6,928.4 7,191.4 6,943.8 7,017.4 7,101.6 7,159.6 7,214.0 7,290.3 4,714.1 4,869.7 4,718.2 4,756.4 4,818.1 4,829.4 4,896.2 4,935.0 611.1 645.8 611.9 617.1 637.8 629.0 656.1 660.3 1,432.3 1,459.3 1,433.9 1,441.2 1,457.8 1,450.0 1,465.5 1,464.1 2,671.0 2,765.2 2,672.8 2,698.2 2,723.9 2,749.8 2,776.1 2,811.0 1,069.1 1,192.2 1,100.3 1,104.8 1,149.2 1,197.1 1,204.6 1,217.9 1,041.7 1,122.3 1,060.9 1,068.7 1,079.0 1,111.4 1,149.3 1,149.6 771.7 846.7 789.3 800.8 808.9 837.0 874.5 866.5 188.7 195.4 190.0 196.9 195.9 193.5 196.7 195.3 586.0 272.1 657.4 279.7 602.9 274.1 606.7 271.1 616.6 273.3 649.3 278.2 685.3 280.1 678.5 287.1 25.0 62.2 37.9 32.9 63.7 77.6 47.5 59.9 -114.4 -142.1 -138.9 -105.6 -126.3 -136.6 -164.1 -141.4 857.0 964.4 628.4 725.8 229.9 242.5 971.5 1,106.5 823.1 944.1 149.0 163.5 851.4 901.1 922.7 962.5 973.0 999.3 623.0 666.2 686.2 725.8 731.8 759.4 229.4 236.8 238.9 240.8 245.0 245.1 990.2 1,006.6 1,048.9 1,099.1 1,137.1 1,140.8 841.7 857.5 891.3 938.4 972.7 973.9 149.3 150.0 158.4 161.8 165.8 168.1 1,257.9 1,270.6 1,261.5 1,261.8 1,260.5 1,270.1 1,273.4 1,278.5 464.2 317.8 146.1 793.7 457.8 309.0 148.3 812.9 465.7 319.4 146.0 795.9 459.6 313.6 145.7 802.3 452.8 303.9 148.5 807.7 460.1 309.4 150.2 810.1 458.8 310.3 148.0 814.7 459.5 312.6 146.6 819.0 -1.6 -4.5 -2.4 -3.8 -2.9 -3.9 -4.6 -6.6 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 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. National Data • D-3 SURVEY OF CURRENT BUSINESS February 1998 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 1996 1997 1996 III Gross domestic product Final sales of domestic product 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 Addenda: Motor vehicle output Gross domestic product less motor vehicle output Seasonally adjusted at annual rates 1996 1997 IV I II 8,241.5 7,610.2 8,018.8 7,638.9 7,761.0 7,867.4 7,953.2 8,075.3 8,179.3 64.6 37.1 31.9 66.1 81.1 48.9 2,785.2 2,945.1 2,797.8 2,826.9 2,904.6 2,936.0 2,952.1 2,759.3 2,880.6 2,760.7 2,795.0 2,838.4 2,854.9 2,903.2 25.9 64.6 37.1 31.9 66.1 81.1 48.9 1,228.9 1,315.7 1,249.5 1,232.4 1,279.8 1,322.1 1,323.9 1,212.0 1,284.9 1,216.3 1,233.5 1,248.0 1,275.3 1,305.3 62.1 2,987.9 2 925 7 62-1 1,336.9 1,310.9 1,556.3 1,629.5 1,548.3 1,594.5 1,624.7 1,613.9 1,628.2 1,547.3 1,595.7 1,544.4 1,561.5 1,590.4 1,579.6 1,597.9 25-9 1651.0 1,614.8 34.4 3.9 33.0 34.3 30.3 9.0 33.8 4,187.3 4,432.8 4,208.1 4,282.7 4,338.2 4,400.1 4,462.3 663.6 705.5 670.1 683.3 690.8 698.2 709.8 36-2 4,530.4 723.2 16.9 271.4 30.8 284.5 33.3 278.7 -1.1 267.2 31.8 281.4 46.8 270.4 18.6 287.4 7,364.7 7,798.9 7,397.3 7,525.8 7,652.2 7,764.0 7,836.9 298 8 70407 /I 1/ ^ Gross domestic product Final sales of domestic product Change in business inventories Residual 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 Residual Addenda: Motor vehicle output 1997 1996 IV III IV III 7,636.0 8,083.4 7,676.0 7,792.9 7,933.6 8,034.3 8,124.3 25.9 1997 I II IV III 6,928.4 7,191.4 6,943.8 7,017.4 7,101.6 7,159.6 7,214.0 7,290.3 6,901.0 7,124.2 6,905.0 6,981.7 7,034.1 7,077.7 7,160.3 7,224.6 25.0 2.4 62.2 37.9 .9 5.0 32.9 2.8 63.7 3.8 77.6 4.3 47.5 59.9 6.2 5.8 2,662.6 2,808.6 2,673.1 2,704.1 2,769.3 2,796.7 2,815.4 2,852.9 2,635.5 2,739.4 2,634.0 2,668.4 2,699.6 2,711.8 2,760.7 2,785.3 25.0 62.2 37.9 32.9 63.7 77.6 47.5 59.9 1,222.1 1,325.2 1,244.0 1,228.5 1,277.0 1,327.5 1,338.4 1,357.8 1,205.8 1,295.0 1,211.4 1,230.1 1,245.8 1,281.4 1,320.4 1,332.3 15.9 28.9 31.3 -.9 29.9 43.8 17.5 24.5 1,443.7 1,489.8 1,433.5 1,477.9 1,496.1 1,476.2 1,484.3 1,502.6 1,433.2 1,451.6 1,426.5 1,442.6 1,458.3 1,437.5 1,449.0 1,461.8 6.6 33.3 33.8 33.8 33.8 9.1 35.4 30.1 3,686.6 3,790.5 3,689.0 3,723.9 3,743.9 3,774.4 3,804.8 3,839.0 582.2 599.4 585.0 592.9 595.1 595.7 600.7 606.3 -4.4 -7.3 -6.0 -5.0 -5.2 -7.0 -8.5 -9.0 241.3 252.2 246.8 236.5 247.5 240.6 254.0 266.8 Gr NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. motor°veh1cle outpuf ^ 66871 6,939.2 66968 67810 6,854.1 6,919.1 6,960.1 7,023.6 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 7,636.0 8,083.4 7,676.0 7,792.9 7,933.6 8,034.3 8,124.3 8,241.5 958.8 863.7 904.6 965.7 1,055.5 977.6 993.2 1,021.0 1,049.0 1,077.1 1,074.8 870.9 922.2 960.3 965.8 986.9 7,730.9 8,180.1 7,790.0 7,881.5 8,032.4 8,123.1 8,235.6 8,329.4 25.9 64.6 7,705.0 8,115.5 37.1 31.9 66.1 7,752.8 7,849.6 7,966.3 81.1 48.9 62.1 8,042.0 8,186.6 8,267.3 NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. 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 6,928.4 7,191.4 6,943.8 7,017.4 7,101.6 7,159.6 7,214.0 7,290.3 964.4 851.4 901.1 971.5 1,106.5 990.2 1,006.6 857.0 7,037.7 7,323.4 7,075.3 25.0 7,010.2 62.2 37.9 7,256.0 7,036.4 922.7 962.5 7,118.4 7,220.9 7,286.9 7,364.6 7,421.2 32.9 63.7 77.6 59.9 . ... , .„.. .,._....., Jexandthe 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 1.8.—Real Gross Domestic Product by Sector [Billions of chained (1992) dollars] 47.5 7,082.7 7,153.1 7,204.7 7,310.9 7,355.4 [Billions of dollars] 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 3.7. 999.3 1,048.9 1,099.1 1,137.1 1,140.8 Table 1.7.—Gross Domestic Product by Sector Gross domestic product 7,636.0 8,083.4 7,676.0 7,792.9 7,933.6 8,034.38,124.38,241.5 6,401.06,797.46,434.26,543.1 6,666.5 6,755.0 6,831.8 6,936.2 Business! Nonfarm! 6,311.6 6,702.6 6,341.7 6,450.0 6,573.1 6,657.9 6,736.8 6,842.5 Nonfarm less housing 5,652.8 6,013.2 5,677.3 5,777.1 5,892.5 5,971.0 6,044.2 6,145.2 Housing 658.8 689.4 664.4 673.0 680.6 686.8 692.7 697.3 93.7 97.1 92.5 93.0 93.4 95.0 Farm 89.4 94.8 374.7 Households and institutions ... 346.0 366.3 347.9 352.0 357.7 363.6 11.4 11.4 11.1 11.1 11.3 11.6 Private households 11.5 11.4 Nonprofit institutions 334.6 355.0 336.6 341.0 346.6 352.3 357.9 363.1 2 909.4 915.8 923.2 930.5 919.7 893.9 General government 281.4 285.9 282.1 281.1 286.2 286.2 286.1 285.4 Federal 607.6 633.8 611.8 616.7 623.3 629.6 637.1 645.1 State and local 973.0 Gross domestic product Business1 Nonfarm' Nonfarm less housing Housing Farm Households and institutions ... Private households Nonprofit institutions General government2 Federal State and local Residual 6,928.4 7,191.4 6,943.8 7,017.4 7,101.6 7,159.6 7,214.0 7,290.3 5,842.9 6,094.4 5,854.9 5,928.5 6,009.6 6,064.4 6,114.4 6,189.3 5,766.8 6,013.7 5,779.8 5,853.3 5,929.7 5,983.2 6,034.0 6,108.0 5,181.4 5,419.2 5,191.3 5,261.3 5,335.3 5,388.2 5,439.2 5,514.2 585.7 595.3 588.7 592.3 594.9 595.6 595.7 595.1 75.5 79.9 311.2 320.6 9.6 74.6 79.0 80.4 79.6 80.5 312.5 314.4 74.7 316.9 319.2 321.7 324.6 9.7 314.9 301.1 311.0 302,5 9.6 304.8 9.6 307.4 9.6 309.6 9.7 312.1 775.9 779.4 778.1 776.6 777.7 236.1 543.8 241.3 537.0 238.9 537.9 238.2 539.9 778.8 237.1 542.1 781.1 240.9 535.2 236.3 545.2 780.1 232.7 547.9 -1.5 -3.5 -1.6 -2.1 -2.7 -3.0 -3.8 -4.7 10.1 10.0 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 3.8. 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.