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SURVEY OF CURRENT BUSINESS

December 1987

National Income and Product Accounts Tables
New estimates in this issue: Third quarter 1987, revised ( r ).
Estimates for 1929-82 are in The National Income and Product Accounts, 1929-82: Statistical Tables (GPO Stock No. 003-010-00174-7, price
$23.00). Estimates for 1983 are in the July 1986 SURVEY. Estimates for 1984-86 are in the July 1987 SURVEY. These publications are available
from the Superintendent of Documents and Commerce Department District Offices; see addresses inside front cover.
The full set of national income and product accounts estimates shown regularly in this part of the SURVEY are now available on diskette for
$240 per year (12 updates). 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

Seasonally adjusted at annual rates

1985

1986

1986
II

III

Gross national product
4,010.3 4,235.0 4,211.6 4,265.9
Personal consumption
expenditures
2,629.4 2,799.8 2,765.8 2,837.1
Durable goods
368.7 402.4 386.4 427.6
Nondurable goods
913.1 939.4 934.3 940.0
Services
1,347.5 1,458.0 1,445.1 1,469.5
Gross private domestic
investment
679.4 660.8
641.6
671.0
Fixed investment
657.3
631.6
655.2 651.9
Nonresidential
442.6 436.9 433.8 433.5
Structures
152.5
137.4
135.9
131.1
Producers' durable
equipment
290.1
299.5 297.9 302.4
Residential
189.0
218.1 223.8
218.3
Change in business
inventories
10.0
15.7
27.5
3.5
Nonfarm
24.5
13.6
16.8
-.9
Farm
-3.6
-1.1
3.0
4.5
Net exports of goods and
services
-79.2
1055
100 8 -110.5
Exports
369.9 376.2 371.3
376.6
472.1
487.1
Imports
449.2 481.7
Government purchases of goods
and services
818.6 869.7 867.2 878.5
Federal
353.9 366.2 368.4 371.2
National defense
259.3 277.8 278.2 287.6
Nondefense
94.6
90.2
88.4
83.6
State and local
464.7 503.5 498.8 507.3

1985

1987
IV

I

II

2,858.6 2,893.8 2,943.7 3,011.3
396.1
409.0 436.8
419.8
986.4
946.3 969.9 982.1
1,492.4 1,527.7 1,552.6 1,588.1
660.2
666.6
439.7
132.9

699.9
648.2
422.8
128.7

702.6
662.3
434.6
129.7

707.4
684.5
456.6
137.1

306.7
226.9

294.1
225.4

304.9
227.7

319.5
227.9

-6.4
5.1
-11.6

51.6
48.7
2.9

40.3
27.3
13.0

22.9
11.1
11.7

-116.9 -112.2 -118.4 -123.7
439.2
383.3 397.3 416.5
500.2 509.5 534.8 562.9
886.3
368.6
279.0
89.6
517.7

896.2
366.9
287.5
79.4
529.3

917.1
379.6
294.5
85.1
537.6

929.0
382.1
299.0
83.0
546.9

III

II

IIP

4,288.1 4,377.7 4,445.1 4,524.0

1986

1986

Gross national 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
Nonfarm
Farm
Net exports of goods and
services
Exports
Imports
Government purchases of goods
and services
Federal
National defense
Nondefense .-..
State and local

1987
IV

I

II

IIP

3,607.5 3,713.3 3,704.7 3,718.0 3,731.5 3,772.2 3,795.3 3,835.9
2,352.6 2,450.5 2,434.3 2,477.5 2,480.5 2,475.9 2,487.5 2,520.7
352.7 383.5 369.6 405.5 399.0 375.9 385.4 406.9
849.5 877.2 880.0 879.8 880.3 883.2 879.0 875.7
1,150.4 1,189.8 1,184.7 1,192.2 1,201.1 1,216.9 1,223.1 1,238.1
636.1
628.7
454.1
149.4

654.0
640.2
443.8
130.3

665.6
637.6
441.0
128.4

645.0
638.8
437.7
122.7

631.0
645.4
443.2
124.6

671.8
624.2
426.0
120.4

673.7
634.7
437.9
120.4

681.9
657.3
463.8
127.2

304.8
174.6

313.5
196.4

312.6
196.5

315.0
201.1

318.6
202.2

305.6
198.2

317.5
196.8

336.6
193.5

7.4
12.0
-4.6

13.8'
15.4
-1.6

6.1 -14.4
.1
2.3
6.0 -16.6

47.6
43.9
3.7

39.0
22.7
16.3

24.6
12.1
12.5

-108.2 -145.8
365.3 377.4
473.6 523.2
726.9
324.2
236.7
87.5
402.7

754.5
332.5
250.7
81.8
422.1

28.1
23.9
4.2

146.8 -161.6 -151.8 -135.2 -132.7 -138.4
437.1
370.2 379.6 388.3 397.8 414.5
533.0 547.2 575.6
541.2
540.1
517.0
751.6
330.6
250.1
80.4
421.0

757.2
332.6
259.8
72.8
424.6

771.8
344.6
252.7
91.9
427.1

759.6
327.3
257.4
69.9
432.3

766.7
332.6
263.5
69.1
434.1

771.7
336.3
268.3
67.9
435.4

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

1985

II

Gross national product
Final sales
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

III

Seasonally adjusted at annual rates

1987

1986

1986

IV

I

II

1985
IIP

4,010.3 4,235.0 4,211.6 4,265.9 4,288.1 4,377.7 4,445.1 4,524.0
4,000.3 4,219.3 4,184.0 4,262.4 4,294.6 4,326.0 4,404.8 4,501.1

40.3
22.9
27.5
3.5 -6.4
51.6
10.0
15.7
1,637.9 1,693.8 1,689.9 1,703.5 1,698.9 1,738.7 1,763.5 1,798.3
1,627.9 1,678.0 1,662.4 1,700.0 1,705.3 1,687.1 1,723.2 1,775.4
40.3
756.7
734.6

22.9
785.7
787.6

10.0
704.3
696.9

15.7
726.8
721.9

27.5
717.0
707.0

3.5
735.8
747.9

-6.4
737.3
741.8

51.6
747.0
711.9

7.3
933.6
931.0

4.8
967.0
956.1

10.1 -12.1
972.9 967.8
955.4 952.1

-4.5
961.6
963.5

35.2
-1.9
22.1
991.7 1,006.8 1,012.6
975.2 988.6 987.8

18.2
24.8
2.7
10.9
17.5
15.6
-1.9
16.5
1,969.3 2,116.2 2,097.9 2,136.6 2,160.0 2,212.0 2,252.2 2,289.3
403.1
423.8 425.7 429.3 426.9 429.4 436.4
425.1

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




1986

Gross national product
Final sales
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

1987

1986
II

III

IV

I

II

IIP

3,607.5 3,713.3 3,704.7 3,718.0 3,731.5 3,772.2 3,795.3 3,835.9
3,600.1 3,699.5 3,676.7 3,711.9 3,745.8 3,724.5 3,756.3 3,811.4
7.4
28.1
13.8
6.1
144
47.6
39.0
24.6
1,548.6 1,595.0 1,594.4 1,593.7 1,602.6 1,626.0 1,638.2 1,666.8
1,541.2 1,581.3 1,566.4 1,587.5 1,616.9 1,578.4 1,599.2 1,642.2
7.4
688.0
681.6

13.8
716.9
712.6

28.1
705.9
696.9

6.1
724.8
735.9

144
731.2
735.5

47.6
739.2
707.8

39.0
753.2
733.4

24.6
786.4
787.3

6.4
860.6
859.7

4.3
878.1
868.6

9.0
888.5
869.5

11 1
868.8
851.6

-4.3
871.4
881.4

31.4
886.8
870.6

19.9
885.0
865.9

-1.0
880.4
854.9

.9
19.1
9.5
17.2 -10.0
16.2
19.1
25.5
1,679.5 1,730.8 1,724.2 1,738.7 1,741.3 1,764.0 1,777.4 1,787.1
379.4 387.4 386.0 385.6 387.5 382.1
379.7 382.0

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