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SURVEY OF CURRENT BUSINESS July 1996 NATIONAL INCOME AND PRODUCT ACCOUNTS Selected NIPA Tables New estimates in this issue: "Final" 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 i.io 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 recent comprehensive revision were in the January/February 1996 issue of the SURVEY; of the tables not published in that issue, tables 6.90, 6.130, 8.2, 8.13, 8.19, and 8.26 were in the April 1996 issue, and tables 3.13, 3.15-3.17, 3.186, 3.19, 3.20, and 9.1-9.6 were in the June 1996 issue. The two remaining tables (1.13 and 5.3) will appear in the August 1996 issue. Summary NIPA series back to 1959 were in the January/February issue. For information about the upcoming annual revision of the NIPA'S, see the box on the preceding page. 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 II III IV 4,698.7 4,924.3 4,796.0 4,836.3 4,908.7 4,960.0 4,992.3 5,062.7 580.9 606.4 602.7 593.0 Durable goods Nondurable goods 1,429.7 1,486.1 1,459.0 1,471.6 2,688.1 2,831.8 2,734.4 2,771.7 Services . Gross private domestic 1,014.4 1,065.3 1,050.1 1,072.0 investment Fixed investment 954.9 1,028.2 S|91.4 1,013.9 667.2 738.5 697.9 723.6 Nonresidential . .. ... 180.2 199.7 188.8 194.5 Structures I Producers' durable equipment 487.0 538.8 509.1 529.0 287.7 289.8 293.5 290.4 Residential Change in business 58.7 37.0 58.1 59.5 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 604.0 615.8 612.8 625.2 1,486.9 1,491.4 1,494.8 1,522.6 2,817.9 2,852.8 2,884.7 2,914.9 778.6 558.9 219.7 885.1 740.3 144.8 38.2 17.8 -1.7 -79.3 -97.5 Net exports of goods and services 829.9 602.9 227.0 909.2 759.2 150.1 832.2 602.0 230.1 929.7 775.7 154.0 1,314.7 1,358.5 1,333.5 1,346.0 1,359.9 1,364.5 1,363.5 1,383.7 516.3 516.7 520.9 519.9 522.6 516.7 507.8 518.6 352.0 345.7 349.6 347.7 352.3 345.6 337.2 343.9 . ... 164.3 171.0 171.2 172.1 170.3 171.1 170.6 174.7 798.4 841.7 812.6 826.1 R37.3 847.7 855.7 865.1 NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. 562.0 580.8 579.9 566.9 576.6 589.7 590.1 602.2 1,390.5 1,422.5 1,408.4 1,416.8 1,423.5 1,425.4 1,424.2 1,436.9 2,519.4 2,576.1 2,535.1 2,548.1 2,569.6 2,586.3 2,600.4 2,616.8 34.0 812.5 588.0 224.6 913.3 765.0 148.3 I 4,471.1 4,578.5 4,522.3 4,530.9 4,568.8 4,600.4 4,614.1 4,655.0 560.6 301.7 796.9 574.7 222.2 919.3 771.0 148.3 IV Durable goods Nondurable goods Services 545.7 296.5 -99.7 -106.6 -122.4 -100.8 1996 III Gross domestic product . 6,604.2 6,739.0 6,691.3 6,701.6 6,709.4 6,768.3 6,776.5 6,812.7 543.8 290.3 763.6 545.4 218.2 863.3 720.9 142.3 804.5 581.1 223.4 906.7 758.9 147.9 1995 II I Personal consumption expenditures 536.8 281.9 722.0 509.1 212.9 818.4 677.3 141.1 1994 IV Gross private domestic investment Fixed investment Nonresidential Structures Producers' durable equipment Residential Change in business inventories 1,050.3 1,074.8 1,064.0 1,068.9 1,016.3 1,036.6 1,046.2 1,070.7 734.4 746.3 749.7 769.0 197.6 202.5 204.0 208.4 -96.4 -102.3 1995 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 7,417.8 Personal consumption expenditures 1994 1996 1995 I Seasonally adjusted at annual rates Exports Goods Services Imports Goods Services Government consumption expenditures and gross investment Federal National defense Nondefense State and local Residual 979.6 1,011.3 1,006.3 1,024.2 921.1 976.9 949.7 969.6 652.1 715.0 679.7 704.4 168.8 181.1 174.3 178.5 998.3 1,016.2 1,006.7 1,014.1 966.1 710.6 180.0 981.0 719.7 182.7 990.7 1,016.9 725.3 746.8 183.1 186.6 484.1 268.9 535.2 262.8 506.4 270.3 527.1 265.9 531.9 256.6 538.2 262.3 543.5 266.4 561.7 271.2 58.9 33.7 57.3 54.5 30.6 33.2 16.5 -2.1 -108.1 -114.2 -105.8 -119.0 -126.8 -114.3 715.1 511.4 204.1 823.3 684.0 139.4 774.8 566.8 208.9 888.9 747.0 142.3 751.0 543.9 207.7 856.8 718.6 138.5 755.8 548.9 207.6 874.9 732.8 142.4 764.3 557.8 207.4 891.2 750.5 141.1 779.1 570.7 209.4 893.4 752.2 141.6 -96.6 -114.6 799.8 589.8 211.1 896.4 752.8 143.9 803.8 592.9 212.1 918.4 770.6 148.1 1,259.9 1,260.7 1,266.6 1,263.0 1,265.8 1,263.6 1,250.4 1,255.3 489.7 336.9 152.6 770.5 472.7 320.0 152.4 788.6 489.1 331.3 157.5 777.7 481.3 325.3 155.6 782.2 479.9 326.1 153.6 786.3 472.7 319.3 153.1 791.5 -.5 -.6 -1.4 -.6 1.0 .3 456.8 309.3 147.2 794.4 463.3 312.2 150.8 792.6 -2.8 -2.5 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 6 • July 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 111 IV 1995 Gross domestic product . 6,931,4 7,245.8 7,080.0 7,147.8 7,196.5 7,298.5 7,340.4 7,417.8 Final sales of domestic product . 6,871.8 7,208.8 7,021.3 7,089.7 7,162.5 7,260.3 7,322.6 7,419.6 Change in business inventories 38.2 59.5 37.0 -1.7 17.8 58.7 58.1 34.0 Goods 2,593.8 2,697.4 2,659.6 2,675.4 2,676.3 2,722.8 2,715.0 2,747.4 Final sales 2,534.2 2,660.3 2,600.9 2,617.3 2,642.3 2,684.5 2,697.1 2,749.1 Change in business -1.7 38.2 inventories 58.7 37.0 17.8 34.0 58.1 59.5 Durable goods 1,117.8 1,179.8 1,146.4 1,173.0 1,162.6 1,191.7 1,191.8 1,203.7 Final sales 1,085.9 1,144.9 1,113.3 1,118.6 1,134.0 1,162.5 1,164.5 1,191.4 Change in business 12.3 29.2 33.1 54.4 34.8 27.3 28.5 inventories 31.9 Nondurable goods 1,476.0 1,517.6 1,513.2 1,502.4 1,513.7 1,531.1 1,523.2 1,543.7 Final sales 1,448.3 1,515.4 1,487.6 1,498.7 1,508.3 1,522.1 1,532.6 1,557.7 Change in business -9.4 -14.0 5.4 3.7 25.6 27.6 2.2 inventories 9.1 3,742.3 3,920.8 3,806.3 3,852.6 3,904.5 3,943.2 3,983.1 4,019.1 Services 595.3 627.6 614.1 619.8 615.7 632.6 642.3 651.4 Structures Addenda: Motor vehicle output 264.8 262.4 271.2 269.9 257.5 258.4 263.6 243.2 Gross domestic product less motor vehicle output 6,666.5 6,983.4 6,808.8 6,877.9 6,939.0 7,040.1 7,076.8 7,174.7 NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. 1994 IV I 1996 1995 I II 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 6,812.7 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 6,815.3 Change in business inventories 54.5 33.2 33.7 -2.1 30.6 16.5 57.3 58.9 -.4 1.4 -1.2 -.5 Residual . . 1.8 .6 -.5 -1.0 Goods 2,524.3 2,590.8 2,578.5 2,580.3 2,573.2 2,608.2 2,601.3 2,621.1 Final sales 2,465.6 2,556.3 2,521.8 2,525.6 2,541.1 2,573.1 2,585.5 2,624.3 Change in business 33.7 -2.1 54.5 33.2 inventories 30.6 16.5 57.3 58.9 Durable goods . . . 1,099.2 1,156.3 1,129.8 1,149.7 1,139.8 1,166.0 1,169.8 1,180.7 Final sales 1,068.0 1,123.5 1,097.4 1,097.9 1,112.2 1,138.8 1,145.1 1,171.3 Change in business 11.0 26.7 51.6 27.0 25.9 31.6 32.8 inventories 30.6 Nondurable goods 1,425.6 1,435.4 1,449.3 1,431.6 1,434.2 1,443.2 1,432.6 1,441.6 Final sales 1,398.0 1,433.5 1,424.8 1,428.2 1,429.4 1,435.2 1,441.3 1,454.0 Change in business 2.2 28.2 .4 3.6 5.9 -10.0 -13.5 25.6 inventories 3,521.7 3,578.5 3,545.9 3,552.6 3,574.7 3,588.7 3,597.9 3,607.3 Services 559.8 571.7 569.1 570.8 563.3 573.6 579.3 586.4 Structures -1.7 -2.1 -1.4 -3.8 -.5 -.9 -3.0 -3.1 Residual Addenda: Motor vehicle output 245.1 234.9 249.5 244.2 230.6 230.6 234.0 215.4 Gross domestic product less 6,358.7 6,504.1 6,441.3 6,457.0 6,478.8 6,537.8 6,542.6 6,597.9 motor vehicle output 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 1.6.—Relation of Real Gross Domestic Product, Real Gross Domestic Purchases, and Real Final Sales to Domestic Purchasers Table 1.5.—Relation of Gross Domestic Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers [Billions of chained (1992) dollars] [Billions of 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 7,417.8 722.0 818.4 804.5 906.7 763.6 863.3 778.6 885.1 796.9 919.3 812.5 913.3 829.9 909.2 832.2 929.7 7,027.8 7,348.1 7,179.6 7,254.3 7,318.9 7,399.3 7,419.7 7,515.3 59.5 37.0 58.7 58.1 34.0 38.2 17.8 -1.7 6,604.2 6,739.0 6,691.3 6,701.6 6,709.4 6,768.3 6,776.5 6,812.7 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 715.1 774.8 823.3 751.0 755.8 764.3 779.1 799.8 803.8 856.8 874.9 891.2 893.4 896.4 918.4 6,709.7 6,849.7 6,794.0 6,816.9 6,832.0 6,879.4 6,870.5 6,923.7 58.9 33.7 57.3 33.2 54.5 16.5 -2.1 6,651.6 6,815.4 6,737.9 6,762.7 6,799.9 6,844.4 6,854.5 6,926.3 6,968.3 7,311.0 7,121.0 7,196.2 7,284.9 7,361.0 7,401.9 7,517.0 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. NOTE.—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 Table 1.7.—Gross Domestic Product by Sector [Billions of chained (1992) dollars] [Billions of dollars] Gross domestic product . Business! Nonfarm * Nonfarm less housing Housing Farm Households and institutions ... Private households Nonprofit institutions General government2 Federal State and local 6,931.4 5,794.0 5,711.7 5,118.6 593.1 7,245.8 6,070.2 5,991.6 5,367.1 624.6 7,080.0 5,932.6 5,852.6 5,248.6 603.9 7,147.8 5,986.0 5,909.3 5,296.0 613.3 7,196.5 6,024.7 5,947.9 5,327.4 620.5 7,298.5 6,118.3 6,039.7 5,414.7 625.1 7,340.4 6,151.9 6,069.7 5,430.3 639.4 7,417.8 6,217.3 6,128.3 5,487.9 640.4 82.3 78.6 80.0 76.6 76.8 78.6 82.2 89.1 310.3 323.0 313.4 316.7 321.3 324.3 333.5 10.8 299.5 827.0 275.7 11.2 11.0 311.8 302.6 305.8 310.3 313.1 852.6 834.0 845.1 850.4 855.9 278.2 274.3 278.6 278.9 278.8 574.4 559.7 566.5 571.6 577.1 329.6 11.3 318.2 859.0 276.8 582.2 551.4 11.1 10.8 10.9 11.5 322.0 867.0 279.0 588.0 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 3.7B. Gross domestic product . Business ] Nonfarm 1 Nonfarm less housing Housing 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 5,659.1 5,582.4 5,008.7 573.6 6,691.3 5,612.0 5,530.0 4,964.5 565.6 6,701.6 5,621.6 5,542.4 4,973.4 569.0 6,709.4 5,628.4 5,551.2 4,979.6 571.6 6,768.3 5,685.6 5,611.2 5,037.7 573.5 6,776.5 5,700.7 5,624.7 5,044.2 580.5 6,812.7 5,739.1 5,659.8 5,082.5 577.3 83.9 76.4 82.1 79.1 76.9 73.9 75.6 79.2 296.2 302.5 298.8 300.1 301.7 303.1 305.1 305.6 10.2 10.1 10.1 10.0 10.1 10.2 10.2 10.3 286.0 292.4 288.7 290.1 291.6 293.0 294.9 295.4 782.4 777.7 780.8 780.1 779.7 779.9 771.3 768.5 256.8 246.5 252.1 250.2 249.1 247.7 238.8 238.9 525.8 531.7 529.0 530.2 530.9 532.5 533.0 530.1 -.4 -.4 -.7 -.4 -.2 -.7 -1.0 -.8 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.
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