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SURVEY OF CURRENT BUSINESS

June 1988

National Income and Product Accounts Tables
Selected NIPA Tables
New estimates in this issue: First quarter 1988, revised (0The selected set of 52 national income and product accounts (NIPA) tables shown in this section presents quarterly estimates, which are
updated monthly. (In most of these tables, annual estimates are also shown.) The full set of 130 tables usually shown in July presents annual
NIPA revisions. For more information on the presentation of the estimates, see "National Income and Product Accounts Estimates: When They
are Released, Where They Are Available, and How They Are Presented" in the January 1988 SURVEY.
The full set of estimates for 1984-86 is in the July 1987 issue of the SURVEY; estimates for 1983 are in the July 1986 issue. Estimates for
1929-82 are in National Income and Product Accounts, 1929-82: Statistical Tables (GPO Stock No. 003-010-00174-7, price $23.00). These publications are available from the Superintendent of Documents; see address on inside front cover.
The full set of NIPA tables is available on diskette for $240 per year (12 updates, for the quarterly estimates prepared each month). 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

1986

1987

1986

1987
I

IV

Gross national product

2,799.8 2,967.8 2,858.6 2,893.8 2,943.7 3,011.3 3,022.6 3,068.3
402.4 413.7 419.8 396.1 409.0 436.8 413.0 424.0
939.4 982.9 946.3 969.9 982.1
986.4 993.1
998.4
1,458.0 1,571.2 1,492.4 1,527.7 1,552.6 1,588.1 1,616.5 1,645.9

Durable goods
Nondurable goods
Services
Gross private domestic
investment

671.0

660.2

699.9

702.6

707.4

760.2

762.7

655.2
436.9
137.4

671.5
443.4
134.2

666.6
439.7
132.9

648.2
422.8
128.7

662.3
434.6
129.7

684.5
456.6
137.1

690.8
459.6
141.1

704.9
477.8
140.0

309.2
228.1

306.7
226.9

294.1
225.4

304.9
227.7

319.5
227.9

318.5
231.2

337.8
227.2

46.1
64
36.2
5.1
9.9 -11.6

51.6
48.7
2.9

40.3
27.3
13.0

22.9
11.1
11.7

69.4
57.5
12.0

57.8
38.2
19.6

15.7
16.8
-1.1

Net exports of goods and
services

-105.5 -119.6 -116.9 -112.2 -118.4 -123.7 -124.3 -111.1
376.2 427.8 383.3 397.3 416.5
485.8
439.2 458.1
481.7
547.4 500.2 509.5 534.8 562.9 582.4 596.9

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

717.5

299.5
218.3

...

.....

1986

1987

Ir

IV

4,235.0 4,488.5 4,288.1 4,377.7 4,445.1 4,524.0 4,607.4 4,665.1

Personal consumption
expenditures

Fixed investment
Nonresidential
Structures
Producers' durable
equipment
Residential
Change in business
inventories
....
Nonfarm.w..
Farm

III

II

Seasonally adjusted at annual rates

1988

869.7

922.8

886.3

896.2

917.1

929.0

948.8

945.1

366.2
277.8
88.4
503.5

379.4
295.2
84.2
543.4

368.6
279.0
89.6
517.7

366.9
287.5
79.4
529.3

379.6
294.5
85.1
537.6

382.1
299.0
83.0
546.9

388.9
299.8
89.2
559.9

375.1
300.4
74.7
570.0

1986

III

V

IV

2,450.5 2,497.2 2,480.5 2,475.9 2,487.5 2,520.7 2,504.6 2,527.9
383.5 388.2 399.0 375.9 385.4 406.9 384.5 394.7
877.2 878.1 880.3 883.2 879.0 875.7 874.6 878.1
1,189.8 1,230.9 1,201.1 1,216.9 1,223.1 1,238.1 1,245.6 1,255.1

Durable goods
Nondurable goods
Services
Gross private domestic
investment

654.0

687.6

631.0

671.8

673.7

681.9

723.1

741.8

640.2
443.8
130.3

644.7
448.3
124.5

645.4
443.2
124.6

624.2
426.0
120.4

634.7
437.9
120.4

657.3
463.8
127.2

662.6
465.6
129.8

680.8
488.3
127.6

313.5
196.4

Fixed investment
....
Nonresidential
Structures
Producers' durable
equipment
Residential
Change in business
inventories . .
Nonfarm
Farm

323.9
196.4

318.6
202.2

305.6
198.2

317.5
196.8

336.6
193.5

335.8
197.0

360.7
192.5

42.9 -14.4
2.3
32.5
166
10.4

47.6
43.9
3.7

39.0
22.7
16.3

24.6
12.1
12.5

60.5
51.5
9.0

61.0
39.4
21.6

13.8
15.4
-1.6

Net exports of goods and
services

1458

135.5 -151.8 -135.2 -132.7 -138.4 -135.8 -120.3
453.5 477.4
388.3 397.8 414.5
437.1
540.1 533.0 547.2 575.6 589.3 597.8

377.4
523.2

.

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

II

3,713.3 3,821.0 3,731.5 3,772.2 3,795.3 3,835.9 3,880.8 3,915.4

Gross national product
Personal consumption
expenditures

Exports
Imports

I

1988

1987

.

IV

...

425.8
561.3

754.5

771.7

771.8

759.6

766.7

771.7

788.9

766.0

332.5
250.7
81.8
422.1

336.0
264.2
71.7
435.8

344.6
252.7
91.9
427.1

327.3
257.4
69.9
432.3

332.6
263.5
69.1
434.1

336.3
268.3
67.9
435.4

347.6
267.7
80.0
441.3

322.7
263.9
58.9
443.2

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

1986

1987

1987

1986
IV

I

II

Seasonally adjusted at annual rates

1988
III

IV

Final sales
Change in business
inventories

1,693.8 1,782.2 1,698.9 1,738.7 1,763.5 1,798.3 1,828.4 1,854.5
1,678.0 1,736.2 1,705.3 1,687.1 1,723.2 1,775.4 1,758.9 1,796.7

15.7

46.1

-6.4

51.6

40.3

22.9

69.4

57.8

Durable goods
Final sales
Change in business

726.8
721.9

773.3
748.0

737.3
741.8

747.0
711.9

756.7
734.6

785.7
787.6

803.8
757.7

815.4
793.8

-4.5

Nondurable goods
Final sales
Change in business

967.0 1,008.9
956.1 988.2

46.0
21.5
22.1
19
35.2
991.7 1,006.8 1,012.6 1,024.6 1,039.2
975.2 988.6 987.8 1,001.2 1,002.9

Services
Structures

4.8

25.3

961.6
963.5

23.4
36.3
24.8
18.2
10.9
20.7
19
16.5
2,116.2 2,271.3 2,160.0 2,212.0 2,252.2 2,289.3 2,331.5 2,368.3
425.1
435.0 429.3 426.9 429.4 436.4 447.5 442.2

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




1987

Ir

Gross national product...... 4,235.0 4,488.5 4,288.1 4,377.7 4,445.1 4,524.0 4,607.4 4,665.1
4,219.3 4,442.5 4,294.6 4,326.0 4,404.8 4,501.1 4,537.9 4,607.3
Final sales
Change in business
69.4
57.8
15.7
64
51.6
40.3
22.9
46.1
inventories
Goods

1986

IV

Gross national product
Final sales
Change in business
inventories
Goods
Final sales
Change in business
inventories

1987

1986
I

II

13.8

42.9 -14.4

47.6

39.0

24.6

60.5

61.0

731.2
735.5

739.2
707.8

753.2
733.4

786.4
787.3

803.3
761.4

828.2
807.9

10

41.9
886.4
867.8

898.0
857.3

770.5
747.5

4.3

23.1

-4.3

31.4

19.9

Nondurable goods
Final sales
Change in business
inventories

878.1
868.6

884.7
864.8

871.4
881.4

886.8
870.6

885.0
865.9

.

F

60.5
47.6
39.0
61.0
42.9 -14.4
24.6
13.8
1,595.0 1,655.2 1,602.6 1,626.0 1,638.2 1,666.8 1,689.7 1,726.2
1,581.3 1,612.3 1,616.9 1,578.4 1,599.2 1,642.2 1,629.2 1,665.2
716.9
712.6

Structures

IV

3,713.3 3,821.0 3,731.5 3,772.2 3,795.3 3,835.9 3,880.8 3,915.4
3,699.5 3,778.1 3,745.8 3,724.5 3,756.3 3,811.4 3,820.3 3,854.3

Durable goods .
Final sales .
Change in business

Services

1988
III

880.4
854.9

20.4

18.6
40.7
16.2
19.1
25.5
19.9 -10.0
9.5
1,730.8 1,782.1 1,741.3 1,764.0 1,777.4 1,787.1 1,800.0 1,806.3
382.8
387.4 383.7 387.5 382.1 379.7 382.0 391.0

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