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8

May 1991

SURVEY OF CURRENT BUSINESS

NATIONAL INCOME
AND PRODUCT ACCOUNTS
Selected NIPA Tables
New estimates in this issue: First quarter 1991, revised; for gross domestic product of nonfinancial corporate business in 1982 dollars (table 1.1.6)
and current-dollar cost and profit per unit of constant-dollar domestic product of nonfinancial corporate business (table 7.18), revised from 1977 forward.
The selected set of 54 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.) 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 July 1988 SURVEY.
The tables shown are available the day of the GNP news release on printouts and diskettes on a subscription basis or from the Commerce Department's
Economic Bulletin Board. Estimates for 1986-89 are in the July 1990 issue of the SURVEY; estimates for 1985 are in the July 1988 issue; estimates
for 1984 are in the July 1987 issue; estimates for 1983 are in the July 1986 issue. Estimates for 1929-82 are in National Income and Product
Accounts, 1929-82: Statistical Tables. For more information, write to National Income and Wealth Division (BE-54), Bureau of Economic Analysis, U.S.
Department of Commerce, Washington, DC 20230.
NOTE.—This section of the SURVEY is prepared by the National Income and Wealth Division and the Government Division.
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

1989

1990

1989

IV

II

HI

IV

..

3,450.1 3,657.3 3,518.5 3,588.1 3,622.7 3,693.4 3,724.9 3,744.5

771.2

Exports l
Imports '
Government purchases of goods and
services

747.2

759.0

759.7

6983

664.2

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

745.6
516.5
147.2
369.3
229.1
13.4
13.0
.5

750.7
532.8
149.8
383.0
217.9
9.0
6.8
2.2

729.2
524.0
142.1
381.9
205.2
-30.8
-32.4
1.5

695.4
504.2
139.8
364.4
191.2
-31.2
-34.1
2.9

-31.2

-35.3

-30.0

-24.9

-41.3

-28.8

12.1

672.8
704.0

642.8
678.1

661.3
691.3

659.7
684.6

672.7
714.1

697.4
726.2

687.5
675.4

1,025.6 1,098.1 1,043.3 1,070.1 1,086.4 1,102.8 1,132.9 1,140.9
...

.

762.7

746.1
524.1
147.0
377.1
222.0
-5.0
-7.4
2.4

626.2
672.3

Net exports of goods and services l

741.0

742.9
511.9
146.2
365.7
231.0
28.3
23.3
5.0
-46.1

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

......

400.0
301.1
98.9
625.6

424.0
313.6
110.4
674.1

399.9
299.2
100.7
643.4

410.6
307.2
103.4
659.6

421.9
309.6
112.3
664.6

425.8
312.6
113.2
677.0

437.6
325.0
112.6
695.3

1990

I"

474.6 480.3 471.2 492.1 478.4 482.3 468.5 453.4
1,130.0 1,193.7 1,148.8 1,174.7 1,179.0 1,205.0 1,216.0 1,212.3
1,845.5 1,983.3 1,898.5 1,921.3 1,965.3 2,006.2 2,040.4 2,078.8

Gross private domestic investment

Federal
National defense
Nondefense
State and local

1989

443.5
330.8
112.7
697.4

Gross national product
Personal consumption expenditures ' .
Durable goods
Nondurable goods
Services *
Gross private domestic investment
Fixed investment
Nonresidential
Producers' durable equipment ....
Residential
Change in business inventories
Nonfarm
Farm
Net exports of goods and services 1
Exports '
Government purchases of goods and
services
Federal
National defense
Nondefense
State and local

1991

1990

1989

IV

5,200.8 5,465.1 5,289.3 5,375.4 5,443.3 5,514.6 5,5273 5,561.7

Gross national product
Personal consumption expenditures 1 .
Durable goods ....
Nondurable goods
Services'

I

Seasonally adjusted at annual rates

1991

1990

I

n

HI

IV

r

4,117.7 4,1573 4,133.2 4,150.6 4,155.1 4,170.0 4,153.4 4,126.5
2,656.8 2,681.6 2,669.9 2,677.3 2,678.8 2,696.8 2,673.6 2,664.9
428.0 427.4 423.1 437.6 426.8 429.5 415.6 401.3
919.9 911.1 923.0 915.6 911.2 916.4 901.2 896.8
1,309.0 1,343.1 1,323.8 1,324.2 1,340.8 1,350.8 1,356.7 1,366.7
716.9

688.7

709.1

700.7

700.7

697.0

656.3

626.1

693.1
506.1
122.4
383.7
187.0
23.8
18.7
5,0

692.3
515.4
120.9
394.6
176.8
-3.6
-5.1
1.5

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

691.2
508.4
120.9
387.5
182.8
9.5
11.6
-2.1

692.3
519.3
122.4
397.0
173.0
4.7
4.7
0

649.9
497.4
114.0
383.4
152.4
-23.7
-26.8
3.1

-54.1

-33.8

-47.9

-35.4

-44.6

-46.5

682.7
519.4
116.4
403.1
163.3
-26.4
-28.5
2.1
-8.8

593.3
647.4

631.5
665.3

611.6
659.4

628.1
663.5

620.1
664.7

630.5
677.0

647.2
656.0

643.0
636.6

798.1

820.8

802.2

807.9

820.2

822.7

832.3

829.1

334.9
256.3
78.7
463.2

343.7
258.7
85.0
477.1

332.7
255.5
77.2
469.5

333.0
254.4
78.6
475.0

345.9
256.5
89.4
474.3

346.0
258.2
87.8
476.7

349.9
265.7
84.2
482.4

348.8
266.8
82.1
480.3

1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.

1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.

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

6.4

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

1989

1990

IV
Gross national product
Final sales
Change in business inventories
Final sales
Change in business inventories
Durable goods
Final sales
Change in business inventories
Nondurable goods
Final sales
Change in business inventories
Structures

II

III

IV

,

5,172.5 5,470.2 5,264.3 5,387.2 5,429.9 5,505.6 5,558.2 5,592.9
-31.2
13.4
9.0 -30.8
-5.0
25.0 -11.8
28.3
2,044.4 2,148.3 2,060.9 2,122.8 2,133.1 2,161.4 2,175.9 2,169.4
-31.2
13.4
9.0 -30.8
25.0 -11.8
28.3
-5.0
953.2
943.4
9.8

1990

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

1991

1990

1989

IV

5,200.8 5,465.1 5,289.3 5,375.4 5,443.3 5,514.6 5,5273 5,561.7

I

II

III

IV

V

4,117.7 4,157.3 4,133.2 4,150.6 4,155.1 4,170.0 4,153.4 4,126.5
4,094.0 4,160.9 4,114.4 4,152.8 4,145.6 4,165.3 4,179.8 4,150.2
-2.2
4.7 -26.4 -23.7
23.8
9.5
18.9
-3.6
1,829.5 1,829.3 1,823.1 1,825.4 1,831.3 1,839.7 1,821.0 1,798.1
1,805.7 1,832.9 1,804.3 1,827.6 1,821.8 1,835.0 1,847.4 1,821.8
-2.2
4.7 -26.4 -23.7
23.8
-3.6
18.9
9.5

878.8
917.9
-39.1

Durable goods
Final sales
Change in business inventories

907.5
897.7
9.8

920.6
930.1
-9.5

904.4
894.2
10.2

914.3
932.1
-17.7

919.1
919.5
-.3

941.1
932.9
8.3

908.0
936.0
-28.1

878.7
910.6
-31.9

1,166.0 1,215.3 1,178.6 1,191.2 1,216.4 1,217.2 1,236.3 1,259.4
1,149.6 1,209.3 1,166.7 1,181.4 1,203.0 1,218.0 1,234.7 1,251.5
13.4
16.4
1.7
-.8
9.8
11.9
6.0
7.9

Nondurable goods ..
Final sales
Change in business inventories

922.0
908.0
13.9

908.7
902.8
5.9

918.7
910.1
8.6

911.0
895.5
15.5

912.2
902.4
9.8

898.5
902.1
-3.6

913.0
911.4
1.6

919.3
911.2
8.2

906.6
894.7
11.9

928.0
939.1
-11.1

907.4
894.2
13.2

919.9
941.4
-21.6

930.1
930.1
0

908.7
941.2
-32.5

2,671.2 2,864.5 2,747.5 2,791.3 2,834.2 2,889.6 2,943.0 3,004.6
456.9

457.4

455.9

473.0

462.5

454.6

4393

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




1989

V

2,072.7 2,143.3 2,085.9 2,111.0 2,146.6 2,170.4 2,145.0 2,138.2

Goods

Services

I

Seasonally adjusted at annual rates

1991

1990

1989

418.9

Services
Structures

1,915.6 1,961.0 1,939.7 1,943.7 1,952.5 1,967.3 1,980.7 1,993.4
372.7

366.9

370.4

381.5

371.2

363.1

351.7

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

335.0

May 1991

SURVEY OF CURRENT BUSINESS

Table 1.5.—Relation of Gross National Product, Gross Domestic Purchases,
and Final Sales to Domestic Purchasers

Table 1.6.—Relation of Gross National Product, Gross Domestic Purchases,
and Final Sales to Domestic Purchasers in Constant Dollars

[Billions of dollars]

[Billions of 1982 dollars]
Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

1989

1990

1989

IV
Gross national product

1990

I

n

III

IV

2

Equals: Gross domestic purchases ....
Less: Change in business inventories
Equals: Final 3sales to domestic
purchasers

626.2
672.3

672.8
704.0

642.8
678.1

661.3
691.3

659.7
684.6

672.7
714.1

697.4
726.2

687.5
675.4

5,246.9 5,496.4 5324.6 5,4053 5,468.2 5,555.9 5,556.1 5,549.7

28.3

-5.0

25.0

-11.8

13.4

9.0

-30.8

1990

i'

5,200.8 5,465.1 5,289.3 5375.4 5,4433 5,514.6 5,5273 5,561.7

Less: Exports of goods and services * ....
Plus: Imports of goods and services l ....

1989

1991

-31.2

5,218.6 5,501.4 5,299.6 5,417.1 5,454.7 5,546.9 5,586.9 5,580.8

1989

IV

1991

1990

I

II

III

IV

lr

4,117.7 4,1573 4,133.2 4,150.6 4,155.1 4,170.0 4,153.4 4,126.5

Gross national product
Less: Exports of goods and services l ....
Plus: Imports of goods and services * ....
2

Equals: Gross domestic purchases ....
Less: Change in business inventories
Equals: Final 3sales to domestic
purchasers

593.3
647.4

631.5
665.3

611.6
659.4

628.1
663.5

620.1
664.7

630.5
677.0

647.2
656.0

643.0
636.6

4,171.8 4,191.1 4,181.1 4,185.9 4,199.7 4,216.5 4,162.2 4,120.1

23.8

-3.6

18.9

-2.2

9.5

4.7

-26.4

-23.7

4,148.1 4,194.7 4,162.2 4,188.1 4,190.1 4,211.8 4,188.6 4,143.9

1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS.
2. Purchases in the United States of goods and services wherever produced.
3. Final sales in the United States of goods and services wherever produced.

1. See the box on page 2i of the July 89 SURVEY OF CURRENT BUSINESS.
2. Purchases in the United States of goods and services wherever produced.
3. 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.

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

Table 1.7.—Gross National Product by Sector

Table 1.8.—Gross National Product by Sector in Constant Dollars

[Billions of dollars]

[Billions of 1982 dollars]
Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

1989

1990

1989

IV
Gross national product
Gross domestic product
Business
Nonfarm
Nonfarm less housing
Housing
Statistical discrepancy

1990

I

n

1989

1991

III

IV

1990

IV

I"

5,200.8 5,465.1 5,2893 5375.4 5,4433 5,514.6 5,5273 5,561.7
5,163.2 5,423.4 5,246.5 5,333.8 5,411.7 5,471.7 5,476.5 5,506.5
4,418.1 4,619.2 4,483.1 4,551.8 4,613.5 4,659.6 4,652.1 4,662.4
4,346.6 4,527.8 4,399.5 4,455.8 4,522.1 4,571.4 4,562.1 4,562.3
3,915.3 4,068.8 3,955.8 4,007.6 4,067.5 4,106.9 4,093.1 4,089.7
431.2 459.1 443.7 448.1
454.7 464.4 469.0 472.6
88.6
86.7
89.6
93.1
95.3
94.6
93.1
92.0
-3.0
.7
.4
-17.0
-1.7
-3.2
-4.9
8.1

•1989

Gross national product
Gross domestic product
Business
Nonfarm
.
Nonfarm less housing
Farm
Statistical discrepancy

1991

1990

I

II

III

IV

r

4,117.7 4,157.3 4,133.2 4,150.6 4,155.1 4,170.0 4,153.4 4,126.5
4,087.6 4,125.4 4,099.5 4,118.2 4,130.6 4,137.5 4,115.2 4,085.6
3,557.9 3,581.1 3,564.4 3,580.0 3,587.2 3,590.8 3,566.7 3,534.6
3,492.9 3,502.5 3,487.5 3,500.3 3,510.3 3,514.3 3,485.1 3,447.2
3,196.0 3,200.4 3,187.8 3,199.1 3,208.4 3,211.9 3,182.1 3,143.5
296.9 302.1 299.7 301.2 301.8 302.4 303.1 303.7
80.2
79.4
81.2
81.3
80.0
79.1
78.8
79.3
6.2
-2.4
.6
-3.7
.3
-13.8
-1.3
-2.5

Households and institutions
Private households
;
Nonprofit institutions

203.6
10.3
193.3

224.8
10.8
214.0

210.3
10.4
199.9

215.0
10.5
204.5

221.4
10.8
210.6

229.3
10.9
218.4

233.4
11.0
222.4

237.8
11.1
226.7

Households and institutions
Private households
Nonprofit institutions

146.2
9.5
136.6

154.5
9.7
144.8

149.2
9.7
139.6

150.8
9.7
141.2

153.6
9.8
143.7

156.7
9.8
146.9

157.0
9.7
147.3

158.0
9.7
148.3

Government
Federal
State and local

541.6
168.6
373.0

579.4
178.5
400.9

553.0
169.7
383.3

567.0
176.6
390.4

576.7
179.2
397.5

582.8
178.3
404.5

591.0
179.8
411.2

606.3
188.5
417.8

Government
Federal
State and local

383.5
126.5
257.0

389.7
127.6
262.1

385.9
126.8
259.2

387.4
127.0
260.4

389.9
128.2
261.7

390.0
127.4
262.7

391.5
127.8
263.6

393.0
128.7
264.4

37.6

41.7

42.8

41.6

31.6

42.9

50.8

553

30.2

31.9

33.7

32.4

24.5

32.6

38.2

40.8

Rest of the world
Addendum:
Gross domestic business product less
housing

Addendum:
Gross domestic business product less
3,978.4

32526

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




Rest of the world

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

Comprehensive Revision of the NIPA's
Revised and updated estimates of the national income and product accounts (NIPA's) resulting from a comprehensive, or benchmark, revision are scheduled for release at the end of
November 1991 and will appear in the November SURVEY OF CURRENT BUSINESS. These estimates will incorporate statistical revisions resulting from (1) newly available source data, such
as the 1982 benchmark input-output tables, the 1987 Economic Censuses, and several annual
surveys for 1989 and 1990, (2) changes in methodology, and (3) a shift, from 1982 to 1987, in
the base period used to express constant-dollar GNP in prices of a single period. The estimates
will also reflect changes in definitions and classifications. In addition, table formats will be
revised and new series presented. The most important of the new series will be alternative
measures of constant-dollar GNP; these measures, described in the April 1989 SURVEY, involve
approaches to weighting that use prices for more than one year. The changes to be introduced
in the comprehensive revision will be described in a SURVEY article this summer.
In general, the statistical revisions will affect the estimates back to 1978, the changes hi
definitions and classifications will affect the estimates as far back as necessary, and the shift
in base period will affect the estimates back to 1929. The estimates released in November will
be limited to 1959 forward and will exclude the GNP by industry series; estimates for earlier
periods and for the industry series will be released during 1992.
The annual NIPA revision covering 1988-90, which would usually be released in July 1991,
will be postponed and combined with the comprehensive revision. The July SURVEY will include
tables showing detailed annual estimates for 1990 on an unrevised basis (in addition to those
that appear monthly in the "Selected NIPA Tables").

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