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26

July 1986

SURVEY OF CURRENT BUSINESS

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

1982

1984

1983

1985

1982
IV

Gross national product

1

Personal consumption expenditures

2

Durable goods
Nondurable goods
Services

..

..

Gross private domestic investment...
Fixed investment.....
Nonresidential
..
Structures
Producers' durable equipment
Residential
Nonfarm
Net exports of goods and services
Exports
Imports .
Government purchases of goods and
services.
Federal
National defense
Nondefense
State and local

3
4
5

I

II

III

IV

I

II

1986

1985

1984

1983

III

IV

I

II

III

IV

I

IP

3,166.0 3,405.7 3,765.0 3,998.1 3,212.5 3,265.8 3,367.4 3,443.9 3,545.8 3,670.9 3,743.8 3,799.7 3,845.6 3,909.3 3,965.0 4,030.5 4,087.7 4,149.2 4,182.3
2,050.7 2,234.5 2,428.2 2,600.5 2,117.0 2,146.6 2,213.0 2,262.8 2,315.8 2,363.8 2,416.1 2,445.6 2,487.2 2,530.9 2,576.0 2,627.1 2,667.9 2,697.9 2,730.1
340.4 347.7 354.0 373.3 362.0 360.8 374.7
331.8
252.7 289.1 331.2 359.3 263.8 266.7 284.5 295.2 310.0 321.2 331.3
771.0 816.7 870.1 905.1 786.6 791.0 810.9 827.0 837.9 855.7 870.3 873.9 880.3 888.2 902.3 907.4 922.6 929.7 926.0
1,027.0 1,128.7 1,227.0 1,336.1 1,066.5 1,088.9 1,117.6 1,140.6 1,167.9 1,186.9 1,214.5 1,239.9 1,266.5 1,294.9 1,319.7 1,346.4 1,383.2 1,407.4 1,429.4

6

447.3

502.3

662.1

661.1

409.6

481.3

519.7

579.8

659.5

657.5

670.3

661.1

650.6

667.1

657.4

669.5

708.3

691.4

7
8
9
10
11
12
13
14

471.8
366.7
143.3
223.4
105.1
24 5
-23.1
-1.4

509.4
356.9
124.0
232.8
152.5
71
.4
-7.5

598.0
416.5
139.3
277.3
181.4
64.1
56.6
7.5

650.0
458.2
154.8
303.4
191.8
11.1
12.2
11

469.5 471.0 492.5
354.9 340.8 344.7
137.6 126.4 119.8
217.3 214.4 224.9
130.2 147.8
114.7
-59.9 -42.6 -11.2
-2.3
-51.1 -33.2
89
94
88

525.2
358.1
122.7
235.5
167.1
-5.5
15.8
-21.3

548.8
383.9
127.4
256.5
164.9
31.0
21.3
9.7

564.0
388.2
129.7
258.4
175.8
95.5
71.5
24.0

597.6
413.3
139.1
274.1
184.4
59.9
56.8
3.0

605.8
421.8
141.4
280.4
184.0
64.4
62.1
2.3

624.4
442.9
146.7
296.2
181.5
36.7
35.9
.8

625.2
439.8
150.7
289.1
185.4
25.4
18.5
6.9

648.0
459.2
156.1
303.1
188.8
19.1
10.4
8.6

654.3 672.6
459.8 474.0
157.2
155.0
304.7 316.8
194.5 198.6
3.1 -3.1
3.2
16.7
1 -19.9

664.4
459.2
154.6
304.6
205.3
43.8
41.2
2.7

671.9
457.3
142.1
315.2
214.6
19.5
12.4
7.1

-19.3 -25.8 -45.6

-63.2

-60.0 -66.1

-49.4

-77.1 -83.7 -105.3 -93.7

-96.4

428.3

15

26.3

-6.1

58.7

-78.9

14.1

22.7

-2.1

16
... 17

361.9
335.6

352.5
358.7

382.7
441.4

369.8
448.6

335.9
321.9

343.6
320.9

344.1
346.2

357.7
376.9

364.7
390.5

373.4
419.0

382.1
445.3

389.2
449.1

386.2
452.2

378.4
427.9

370.0
447.1

362.3
446.0

368.2
473.6

374.8
468.5

375.6
472.0

18

641.7

675.0

733.4

815.4

671.8

668.1

675.2

680.7

676.1

693.2

733.3

743.8

763.4

777.3

799.0

829.7

855.6

836.7

857.2

19
20
21
22

272.7
193.8
78.9
369.0

283.5
214.4
69.1
391.5

311.3
235.0
76.2
422.2

354.1
259.4
94.7
461.3

293.2
205.4
87.7
378.7

285.5
208.5
77.0
382.7

287.7
213.3
74.4
387.5

284.9
214.3
70.6
395.8

276.1
221.5
54.6
400.0

283.4
227.1
56.3
409.8

315.2
233.7
81.6
418.1

317.2
234.5
82.7
426.6

329.1
244.9
84.2
434.3

333.7
248.9
84.8
443.5

340.9
255.1
85.8
458.1

360.9
265.5
95.5
468.8

380.9
268.0
112.9
474.7

355.7
266.4
89.3
480.9

364.8
277.5
87.3
492.4

III

IV

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

1982

1983

1984

1985

1982
IV

Gross national product

1

Personal consumption expenditures

2

Durable goods
Nondurable goods
Services
Gross private domestic investment
Fixed investment . ...
Nonresidential
Structures
Producers' durable equipment
Residential
Change in business inventories
Nonfarm.
Farm

3
4
5
6
7
8
9
10
11
12
13
14

Net exports of goods and services

15

Exports
Imports
Government purchases of goods and
services.

16
17

Federal . .
National defense
Nondefense
State and local

18
19
20
21
22

1983
I

1984

II

III

I

II

1986

1985
III

IV

I

II

I

3,166.0 3,279.1 3,489.9 3,585.2 3,159.3 3,186.6 3,258.3 3,306.4 3,365.1 3,444.7 3,487.1 3,507.4 3,520.4 3,547.0 3,567.6 3,603.8 3,622.3 3,655.9
2,050.7 2,146.0 2,246.3 2,324.5 2,078.7 2,094.2 2,135.1 2,163.0 2,191.9 2,213.8 2,246.3 2,253.3 2,271.7 2,292.3 2,311.9 2,342.0 2,351.7 2,372.7
252.7 283.1 318.9 343.9 262.0 263.3 280.0 288.5 300.5 311.1
326.8 332.3 338.8 357.4 347.0 345.4
319.0 318.8
771.0 800.2 828.6 841.6 778.6 786.3 795.7 806.2 812.7 819.7 832.8 831.7
830.5 834.3 841.3 843.8 847.2 860.6
1,027.0 1,062.7 1,098.7 1,139.0 1,038.1 1,044.6 1,059.4 1,068.3 1,078.6 1,083.0 1,094.6 1,102.8 1,114.4 1,125.8 1,131.8 1,140.8 1,157.5 1,166.6
447.3 504.0 652.0 647.7 408.8 427.1 486.9 524.8 577.2 649.3 649.7 658.9 649.9 638.2 655.6 643.8 653.2 684.0
471.8 510.4 592.8 638.6 468.1 469.4 496.2 525.8 550.3 564.1 592.7 598.3 615.9 615.0 638.1 643.1 658.4 644.1
366.7 361.2 422.2 461.4 352.3 341.6 348.8 363.9 390.4 394.4 419.5 427.1 447.6 442.7 463.0 463.1 476.9 457.8
142.9 147.5 149.9 154.1 152.3 152.4 148.1
128.2 123.3 125.8 131.6
141.3
133.5
143.3 127.2 141.3 152.2 138.3
223.4 233.9 280.9 309.2 214.1 213.4 225.5 238.1 258.8 260.9 278.2 284.2 300.1 292.8 308.9 310.9 324.5 309.7
159.9 169.7 173.2 171.2
127.8 147.4 161.9
105.1 149.3 170.6 177.2 115.8
186.3
180.0 181.5
168.3 172.4 175.1
9.0 -59.3 -42.3 -9.3 -1.0
59.2
27.0
85.1
-24.5 -6.4
39.9
-5.2
.7
17.4
23.2
33.9
60.6
57.0
24
332
10.9 -50.4
54.3
1
20.5
14.8
23 1
37.0
16.1
9.6
16.7
33.9
59.3
55.2
68.7
1.4
6.5
69
157
91
19 -8.9
4.9
-6.3
-1.4
6.4
2.9
— .7 -21.3
7.8
1.3
1.8
16.4
0
16.1 -14.6 -35.0 -46.2 -68.6 -87.2 -85.7 -92.7 -78.8 -108.1 -113.8 -132.0 -125.9
11.7
26.3 -19.9 -83.6 -108.2
361.9 348.1 369.7 362.3 336.0 342.5 341.7 352.8 355.5 361.3 367.0 375.5 375.0 369.4 361.2 355.8 362.9 369.2
335.6 368.1 453.2 470.5 324.3 326.4 356.3 387.8 401.6 429.9 454.2 461.2 467.7 448.2 469.3 469.6 494.8 495.1
641.7 649.0 675.2 721.2 660.1 649.2 650.9 653.6 642.2 650.2 678.2 681.0
691.5 695.3 708.3 731.8 749.4 725.2
272.7
193.8
78.9
369.0

275.1
206.9
68,2
373.9

291.7
219.4
72.3
383.5

323.6
235.7
87.8
397.6

289.5
201.4
88.2
370.6

278.2
203.2
75.1
371.0

278.5
206.3
72.2
372.4

277.6
206.5
71.1
376.0

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




IV

266.0
211.6
54.4
376.2

271.2
214.4
56.8
379.0

296.3
219.0
77.3
381.8

295.6
218.4
77.1
385.4

303.8
225.9
77.9
387.7

305.8
228.0
77.8
389.5

311.4
233.5
77.9
396.9

329.9
242.2
87.6
401.9

347.2
239.3
107.9
402.2

320.4
238.7
81.7
404.8

IP

3,665.7
2,407.0
357.5
875.5
1,173.9
667.6
648.0
454.8
132.6
322.2
193.1
19.6
12.1
7.5
-146.3
371.9
518.3
737.5
325.1
247.5
77.5
412.4

27

SURVEY OF CURRENT BUSINESS

July 1986

Table 1.3.—Gross National Product by Major Type of Product
[Billions of dollars]
Seasonally adjusted at annual rates
Line

1982

1983

1984

1985

1982
IV

Gross national product
Final sales
Change in business inventories
Goods

4

7
8
9

Nondurable goods
Final sales
Change in business inventories
Services

10
11
.... 12
13
14

Structures

II

IV

I

III

II

1986

1985

1984
III

I

IV

II

III

IV

I

IP

1,319.1 1,396.1 1,576.7 1,630.2 1,309.8 1,324.4 1,383.6 1,402.6 1,473.7 1,553.5 1,573.5 1,585.8 1,594.1 1,611.6 1,622.4 1,642.7 1,644.1 1,669.0 1,666.7
1,343.7 1,403.2 1,512.6 1,619.1 1,369.7 1,367.1 1,394.8 1,408.1 1,442.7 1,458.1 1,513.7 1,521.4 1,557.4 1,586.2 1,603.3 1,639.7 1,647.2 1,625.2 1,647.2
-7.1
-5.5
-24.5
64.1
31.0
64.4
25.4
19.1
3.1 -3.1
43.8
19.5
11.1 -59.9 -42.6 -11.2
95.5
59.9
36.7
526.1 573.4 675.0 700.2 509.1 507.2 565.8 593.3 627.1 657.9 669.0 677.8 695.4 688.4 693.1 710.3 709.1 710.6 708.0
542.9 574.3 635.9 693.6 551.8 539.7 567.9 579.3 610.4 612.4 632.2 633.0 666.0 671.1 690.8 713.0 699.6 682.0 706.5
-1.0
-2.2
14.0
2.3 -2.7
-16.8
39.2
6.6 -42.7 -32.5
16.7
44.8
17.3
28.6
1.6
45.6
36.8
29.5
9.5
793.0 822.7 901.7 930.0 800.6 817.2 817.9 809.2 846.6 895.6 904.6 908.0 898.6 923.2 929.3 932.5 935.0 958.4 958.7
800.8 828.8 876.7 925.5 817.9 827.4 826.9 828.8 832.3 845.7 881.5 888.4 891.4 915.2 912.6 926.7 947.7 943.1 940.8
-9.0 -19.5
-7.7
-6.1
-10.2
14.3
16.7
25.0
4.5 -17.2
49.9
23.1
19.6
7.2
8.1
15.3
17.9
5.8 -12.7
1,547.5 1,682.5 1,813.2 1,959.8 1,598.9 1,634.4 1,666.6 1,699.0 1,730.1 1,760.3 1,792.9 1,832.3 1,867.1 1,906.3 1,935.4 1,971.9 2,025.5 2,057.7 2,089.3
299.4 327.1 375.1 408.1 303.9 307.0 317.2 342.3 342.0 357.1 377.3 381.6 384.4 391.4 407.2 415.9 418.1 422.6 426.3

5
6

Durable goods
Final sales
Change in business inventories

I

3,166.0 3,405.7 3,765.0 3,998.1 3,212.5 3,265.8 3,367.4 3,443.9 3,545.8 3,670.9 3,743.8 3,799.7 3,845.6 3,909.3 3,965.0 4,030.5 4,087.7 4,149.2 4,182.3
3,190.5 3,412.8 3,700.9 3,987.0 3,272.4 3,308.4 3,378.6 3,449.4 3,514.8 3,575.4 3,683.9 3,735.3 3,808.9 3,883.9 3,945.9 4,027.4 4,090.8 4,105.4 4,162.8
71
245
112
55
25.4
19.1
3.1 -3.1
.43.8
19.5
641
11 1 599
426
310
599
644
36.7
95 5

1
2
3

Final sales
Change in business inventories

1983

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

Table 1.4.—Gross National Product by Major Type of Product in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Line

1982

1983

1984

1985

IV

Gross national product
Final sales
Change in business inventories
Goods

1
2
3
4

Final sales
Change in business inventories

5
6

Durable goods
Final sales
Change in business inventories

7
8
9

Nondurable goods
Final sales
Change in business inventories

10
.... 11
12

Services

13

Structures

14

1983

1982

3,166.0 3,279.1 3,489.9 3,585.2 3,159.3
3,190.5 3,285.5 3,430.7 3,576.2 3,218.6
9.0 -59.3
-6.4
59.2
-24.5
1,319.1 1,367.0 1,503.1 1,533.2 1,297.9

I

IV

I

III

II

3,186.6 3,258.3 3,306.4 3,365.1 3,444.7 3,487.1 3,507.4
3,228.9 3,267.6 3,307.4 3,338.1 3,359.6 3,430.0 3,446.8
60.6
27.0
57.0
85.1
93 -1.0
-42.3
1,312.3 1,358.0 1,373.9 1,423.8 1,486.3 1,506.1 1,510.3
1,354.5 1,367.3 1,374.8 1,396.8 1,401.2 1,449.1 1,449.7
60.6
27.0
-1.0
-9.3
57.0
85.1
-42.3
500.6 559.1 584.4 612.6 639.8 649.5 654.6
532.5 561.3 571.3 596.6 596.2 614.1 611.8
16.1
42.8
13.1
-2.3
35.5
43.6
-31.8

1,343.7 1,373.4 1,443.9 1,524.2 1,357.1
-6.4
9.0 -59.3
-24.5
59.2
526.1 564.2 653.4 675.8 501.4
542.9 565.4 615.9 670.0 543.8
-1.2
5.9 -42.4
37.5
-16.8
793.0 802.8 849.7 857.4 796.5 811.6
800.8 808.0 828.0 854.2 813.4 822.1
3.2 -16.9 -10.4
-5.2
21.7
-7.7

798.9
806.0
-7.0

789.5
803.5
-14.1

811.1
800.2
10.9

846.5
805.0
41.5

856.6
835.0
21.6

1986

1985

1984
III

II

855.8
837.9
17.8

IV

I

III

II

IV

IP

I

3,520.4 3,547.0 3,567.6 3,603.8 3,622.3 3,655.9
3,486.4 3,523.9 3,550.2 3,603.1 3,627.5 3,616.1
39.9
52
17.4
23.2
.7
33.9
1,509.5 1,521.1 1,526.0 1,544.2 1,541.7 1,563.6
1,475.6 1,497.9 1,508.6 1,543.6 1,546.9 1,523.7
33.9
39.9
17.4
52
23.2
.7

3,665.7
3,646.1
19.6
1,565.7
1,546.1
19.6

669.6
641.5
28.0

660.0
643.8
16.2

668.3
666.6
1.7

686.5
689.3
-2.9

688.7
680.2
8.4

688.6
662.6
26.0

690.9
689.2
1.7

840.0
834.1
5.9

861.1
854.1
7.0

857.7
841.9
15.7

857.8 853.0
854.2 866.7
3.5 -13.6

875.0
861.1
13.9

874.8
856.9
17.9

1,547.5 1,585.5 1,623.0 1,667.6 1,555.5 1,568.2 1,580.1 1,592.9 1,600.7 1,604.9 1,614.9 1,629.7 1,642.5 1,653.0 1,656.5 1,668.7 1,692.1 1,703.0 1,713.6
299.4 326.6 363.9 384.4 305.9 306.1 320.2 339.6 340.6 353.5 366.1 367.4 368.4 373.0 385.1 390.9 388.5 389.4 386.4

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

Table 1.5.—Relation of Gross National Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers
[Billions of dollars]
Seasonally adjusted at annual rates
Line

1982

1983

1984

1985

1982
IV

Gross national product
Less: Exports of goods and services
Plus: Imports of goods and services

1
2
3

Equals: Gross domestic purchases 1

4

Less: Change in business inventories
Equals: Final2 sales to domestic
purchasers .

5
6

3,166.0 3,405.7 3,765.0 3,998.1 3,212.5
361.9 352.5 382.7 369.8 335.9
335.6 358.7 441.4 448.6 321.9
3,139.7 3,411.8 3,823.7 4,077.0 3,198.5
-7.1
-24.5
11.1 -59.9
64.1
3,164.2 3,418.9 3,759.6 4,065.9 3,258.4

1983
I

II

I

II

III

IV

I

II

HI

IV

I

IP

3,265.8 3,367.4 3,443.9 3,545.8 3,670.9 3,743.8 3,799.7 3,845.6 3,909.3 3,965.0 4,030.5 4,087.7 4,149.2 4,182.3
343.6 344.1 357.7 364.7 373.4 382.1 389.2 386.2 378.4 370.0 362.3 368.2 374.8 375.6
320.9 346.2 376.9 390.5 419.0 445.3 449.1 452.2 427.9 447.1 446.0 473.6 468.5 472.0
3,243.1 3,369.5 3,463.1 3,571.6 3,716.5 3,807.0 3,859.7 3,911.7 3,958.7 4,042.1 4,114.2 4,193.0 4,242.9 4,278.7
-5.5
31.0
-42.6 -11.2
19.1
64.4
36.7
25.4
59.9
95.5
43.8
3.1 -3.1
19.5
3,285.7 3,380.7 3,468.7 3,540.6 3,621.0 3,747.1 3,795.3 3,875.0 3,933.4 4,023.0 4,111.1 4,196.1 4,199.0 4,259.2

1. Purchases in the United States of goods and services wherever produced.
2. Final sales in the United States of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.




IV

1986

1985

1984
III

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