Full text of Survey of Current Business : January 1998
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JANUARY 1998
^^ VOLUME 78 NUMBER
1
of CURRENT BUSINESS
>§. DEPARTMENT OP COMMERCE ^ ECONOMICS AND STATISTICS ADMINISTRATION
BUREAU OF ECONOMIC ANALYSIS
JANUARY
1995
VOLUME
JNUMtfliK
SURVEY of
CURRENT BUSINESS
SURVEY OF CURRENT BUSINESS (ISSN
0039-6222). Published monthly by the
Bureau of Economic Analysis of the U.S.
Department of Commerce.
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correspondence should be addressed to
the Editor-in-Chief, SURVEY OF CURRENT
BUSINESS, Bureau of Economic Analysis,
U.S.
Department
of
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Bureau of Economic Analysis
J, Steven Landefeld, Director
Robert B Parker, Chief Statistician
Jack E. Triplett, Chief Economist
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Brent R, Moulton, Associate Director for National Income?
Expenditure, and Wealth Accounts
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THIS ISSUE of the SURVEY went to the printer on January 12,1998*
It incorporates data from tee Mowing monthly BBA news releases:
U,S< International Trade in Goods and Services (December 18),
Gross Domestic Product (December 23), and
Personal Income and Outlays (December 24).
January 1998
SURVEY OF CURRENT BUSINESS
TABLE
OF
CONTENTS
l\egularfc eatures
1
Business Situation
Real GDP increased 3.1 percent in the third quarter of1997 after increasing 3.3
percent in the second quarter and the price index for gross domestic purchases
increased 1.3 percent after increasing 0.8 percent Corporate profits increased
$32.2 billion in the third quarter after increasing $15.5 billion in the second,
reflecting a step-up in the profits of domestic nonfinancial corporations.
1
U.S. International Transactions, Third Quarter 1997
The U.S. current-account deficit increased to $42.2 billion in the third quarter
of 1997 from $37.9 billion in the second quarter. The increase was accounted
for by an increase in the deficit on goods; changes in the other principal
components of the current account were small In the capital account, outflows
for U.S. assets abroad increased $101.6 billion after increasing $90.9 billion,
and inflows for foreign assets in the United States increased $169.5 billion after
increasing $143.0 billion.
l\eports and statistical presentations
5
34
Real Inventories, Sales, and Inventory-Sales Ratios
for Manufacturing and Trade
1998 Release Dates for BEA Estimates
D-l BEA Current and Historical Data
National Data:
D-2
D-27
D-36
D-41
D-43
Selected NIPA Tables
Other NIPA and NiPA-Related Tables
Historical Tables
Domestic Perspectives
Charts
International Data:
D-51 Transactions Tables
D-57 Investment Tables
D-62 International Perspectives
D-64 Charts
— Continued on next page —
U
SURVEY OF CURRENT BUSINESS
Regional Data:
D-65
State and Regional Tables
D-69
Local Area Table
D-71 Charts
Appendixes:
D-73 Appendix A: Additional Information About BEA'S NIPA Estimates
D-75 Appendix B: Suggested Reading
Inside back cover: BEA Information
(A listing of recent BEA publications available from GPO)
Back cover: Schedule of Upcoming BEA News Releases
January 1998
SURVEY OF CURRENT BUSINESS
January 1998
Larry R. Moran
prepared the first
section of this
article, and Daniel
Larkins prepared
the section on
corporate profits,,
BUSINESS
SITUATION
EAL GROSS domestic product (GDP)
^ increased 3.1 percent in the third quarter
of 1997, according to the "final" estimates of the
national income and product accounts (NIPA'S).*
The third-quarter increase in GDP was about
the same as the 3.3-percent increase in the second quarter (chart i). Accelerations in consumer
spending and in business fixed investment nearly
offset a sharp downturn in business inventory investment, a larger decrease in net exports in the
third quarter than in the second, and decelerations in residential investment and in government
spending (table i).
The "final" estimate of the change in real
GDP is 0.2 percentage point lower than the
3.3-percent increase indicated by the "preliminary"
estimate reported in the December "Business
Situation" (table 2). The revision is slightly less
than the average revision—0.3 percentage-point,
without regard to sign—from the preliminary
to the final estimate for 1981-96. Revisions to
the components of GDP were small. Downward revisions to nonfarm business inventory
investment, consumer spending, and net exports
more than offset an upward revision to business
fixed investment. The revision to business inventory investment was primarily to manufacturers'
durable goods inventories and reflected the incorporation of revised data on inventory book values
for September. In consumer spending, the largest
revision was to services and primarily reflected
the incorporation of newly available data on hospital expenses. In net exports, the incorporation
of revised data on trade in goods and services
resulted in a larger upward revision to imports
than to exports. In business fixed investment, the
i. Quarterly estimates in the NIPA'S are expressed at seasonally adjusted
annual rates unless otherwise specified. Quarter-to-quarter dollar changes are
differences between published estimates. Quarter-to-quarter percent changes
are annualized and are calculated from unrounded data. Real estimates are
expressed in chained (1992) dollars, and price indexes are chain-type indexes.
Table 1.—Real Gross Domestic Product, Real Gross Domestic Purchases, and Real Final Sales to Domestic Purchasers
[Seasonally adjusted at annual rates]
Percent change from preceding
quarter
Billions of chained (1992) dollars
Level
Change from preceding quarter
1997
1996
III
IV
1996
1997
1997
I
IV
III
II
II
I
III
Gross domestic product
7,214,0
73.6
84.2
58,0
54.4
Less' Exports of goods and services
Plus: Imports of goods and services
973.0
1,137.1
49.7
16.4
21.6
42.3
39.8
50.2
10.5
38.0
Equals: Gross domestic purchases
7,364.6
43.1
102.5
66,0
77.7
2.5
5.9
3.7
4,896.2
656.1
1,465.5
2,776.1
1,149.3
874.5
196.7
685.3
280.1
38.2
61.7
20.7
16.6
25.7
10.3
11.3
-8.8
-7.8
25.9
32.4
28.1
66.8
27.1
15.5
26.3
37.9
37.5
3.3
3.5
2.1
3.9
3.0
5.9
5.3
.9
Personal consumption expenditures
Durable goods
Nondurable goods
Services
...
Gross private domestic fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Change in business inventories
Nonfarm
Farm
Government consumption expenditures and gross investment
Federal
National defense
Nondefense
State and local
Addendum: Final sales to dometic purchasers
47.5
9.5
38.3
1,273.4
458.8
310.3
148.0
814.7
7,310.9
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 usually are not additive. Chained (1992) dollar levels and residuals,
5.2
7.3
25.4
7.8
11.5
6.9
3.8
-3.0
-5.0
-.1
-5.1
.3
-6.1
-5.8
-.3
6.4
46.3
8.1
-1.0
9.9
2.2
30.8
-1.1
31.8
-1.3
-6.8
-9.7
2.8
5.4
70.4
-24
32.7
4.9
13.9
2.2
11.8
9.6
7.3
5.5
1.7
2.4
51.6
3.2
36.0
1.9
4.3
25.5
6.8
15.3
2.6
-4.3
4.9
9.9
17.9
14.1
4.7
3.9
3.9
4.1
-2.1
6.7
3.3
3,3
18.4
20.5
-5.4
-2.1
3.9
12.6
14.6
^.7
23.0
7.4
3.1
4.4
14.6
4.3
5.6
18.4
4.3
3.9
14.4
19.2
6.7
24.1
2.7
-30.1
2.0
-31.8
3.3
-1 3
.9
.1
-5.2
-7.1
-1.0
-.4
-5.8
4.6
3.3
-11.8
8.0
2.7
106,2
2,7
4,0
-2.2
3.1
6.6
7.5
4.9
1.2
2.9
1.1
-1.1
1.2
-5.7
2.3
6,0
which measure the extent of nonadditivity in each table, are found in NIPA tables 1.2, 1.4, and
1.6. Percent changes are calculated from unrounded data. Percent changes in major aggregates
are found in NIPA table 8.1.
SURVEY OF CURRENT BUSINESS
2 • January 1998
upward revision was to structures and reflected
the incorporation of revised data on the value
of nonresidential construction put in place for
September.
Real final sales of domestic product increased
4.7 percent in the third quarter, 0.2 percentage
point less than the preliminary estimate.2 The
revision was the same as that to GDP because the
revision to change in business inventories was
small.
Real gross domestic purchases increased
4.3 percent, 0.2 percentage point less than the
preliminary estimate. The revision was the same
as that to GDP because the revision to net exports
was small.
2. Final sales of domestic product equals GDP less change in business
inventories.
Table 2.—Revisions to Real Gross Domestic Product and Prices, Third Quarter
1997
[Seasonally adjusted at annual rates]
Percent change from
preceding quarter
Preliminary
estimate
Gross domestic product
. .
Less" Exports of goods and services
Goods
Services
Plus: Imports ol goods and services
Goods
Services
Final
estimate
3.3
3.1
4.3
3.8
5.7
4.4
3.4
7.2
14.0
14.8
9.5
14.6
15.4
10.1
Final estimate minus
preliminary estimate
Percentage
points
-0.2
Billions of
chained
(1992)
dollars
-3.6
.1
-.4
1.5
.3
-.7
.8
.6
.6
.6
1.4
1.2
.2
Equals Gross domestic purchases
4.5
4.3
-.2
-2.6
Personal consumption expenditures
5.8
5.6
-.2
.2
-.1
-.2
-1.7
.2
-.4
-1.4
.5
1.1
3.4
0
1.1
2.0
1.6
0
-.7
18.2
Nondurable goods
Services
4.4
4.1
Fixed investment
Nonresidential
13.9
18.1
3.3
Producers' durable equipment
Residential
24.1
3.7
18.4
4.3
3.9
14.4
19.2
6.7
24.1
2.7
-1.0
Change in business inventories
Nonfarm
Farm
-2.0
-2.3
.3
The price index for gross domestic purchases
increased 1.3 percent, the same as the preliminary
estimate, and the price index for GDP increased
1.4 percent, o.i percentage point less than the
preliminary estimate.
Real disposable personal income increased
2.6 percent, o.i percentage point less than the
preliminary estimate; the revision was primarily
to personal interest income and reflected newly
available flow-of-funds data and data on interest received and paid by commercial banks. The
personal saving rate was 3.5 percent, the same as
the preliminary estimate.
Gross national product (GNP).—Real GNP increased 3.1 percent in the third quarter, the same
as real GDP (chart i and table 3).3 Receipts of
factor income from the rest of the world and
payments of factor income to the rest of the
world increased about the same amount; interest income accounted for more than two-thirds
of the increase in receipts and about three-fifths
of the increase in payments. The revised estimate of the third-quarter growth in real GNP
is 0.5 percentage point higher than the preliminary estimate, reflecting an upward revision to
profits from the rest of the world (see the discussion about revisions in the section on "Corporate
Profits").
3. GNP—goods and services produced by labor and property supplied by
U.S. residents—equals GDP plus receipts of factor income from the rest of
the world less payments of factor income to the rest of the world.
Selected Product Measures:
Change From Preceding Quarter
Percent
10
i REAL GROSS DOMESTIC PRODUCT
Government consumption expenditures and gross
1.1
Federal
National defense
Nondefense
State and local
-1.0
1.3
. .
Addenda:
Final sales of domestic product
Gross domestic purchases price index '
GDP price index '
-5.4
2.3
4.9
1.3
1.5
1.1
-1.1
1.2
-5.7
2.3
4.7
1.3
1.4
0
-.1
-.1
-.3
0
-.2
0
-.1
-.2
-.1
-.1
-.2
0
-1.8
1. Based on chained-type annual (1992) weights.
NOTE.—The final estimates for the third quarter of 1997 incorporate the following revised or additional major source data that
were not available when the preliminary estimates were prepared.
Personal consumption expenditures: Revised retail sales for September and newly available data on used auto sales and stocks
for August and September.
Nonresidential fixed investment: Revised construction put in place for August and September and revised manufacturers' shipments
of machinery and equipment for September.
Residential lined investment: Revised construction put in place for August and September.
Change in business inventories: Revised manufacturing and trade inventories for September.
Exports and imports ot goods and services: Revised data on exports and imports of goods for September and revised balanceof-payments data on exports and imports ot services for the second and third quarters.
Government consumption expenditures and gross investment Revised State and local construction put in place for August and
September.
Wages and salaries: Revised employment, average hourly earnings, and average weekly hours for September.
GDP prices: Revised export and import prices for July through September and revised prices of single-family homes under construction for the third quarter.
ill I.. Ill 1.1 III
-5
10
5
REAL GROSS NATIONAL PRODUCT
On a Command-Basis,
-5
1994
1995
1996
Note.—Percent change at annual rate from preceding quarter;
based on seasonally adjusted estimates.
U.S. Department of Commerce, Bureau of Economic Analysis
1997
SURVEY OF CURRENT BUSINESS
Table 3.—Relation of Real Gross Domestic Product, Real
Gross National Product, and Real Command-Basis Gross
National Product
[Seasonally adjusted at annual rates]
Percent
change from
preceding
quarter
Change from
Billions of chained
(1992) dollars
Level
preceding
quarter
1997
1997
1997
II
Gross domestic product
Plus: Receipts of factor income from the
rest of the world
Less: Payments of factor income to the
rest of the world
Equals: Gross national product
III
II
III
7,214.0
58.0
54.4
242.5
11.7
3.1
6.2
22.4
10.9
6.1
31.8
10.1
256.9
16.8
7,198.8
52.6
54.4
51.6
17.1
19.3
5.8
69.8
20.2
26.0
6.7
70.8
57.6
Less: Exports of goods and services and
receipts of factor income from the rest
of the world
.. 1,216.0
Plus: Command-basis exports of goods
and services and receipts of factor
income
1,261.9
Equals: Command-basis gross national
product
7,244.8
Addendum;
Terms of trade 1
3.3
III
103.8
1.5
.2
3.0
3.1
4.0
3.2
6.0
.8
1. Ratio of the implicit price deflator for the sum of exports of goods and services and of
receipts of factor income to the corresponding implicit price deflator for imports with the decimal
point shifted two places to the right.
NOTE.«Levels of these series are found in NIPA tables 1.10 and 1.11.
Real GNP on a command basis increased slightly
more than real GNP in the third quarter—
3.2 percent, compared with 3.1 percent—reflecting
a slight improvement in the terms of trade.4
In the second quarter, command-basis GNP increased considerably more than real GNP—4.0
percent, compared with 3.0 percent—reflecting a
substantial improvement in the terms of trade.
Corporate Profits
Profits from current production increased
$32.2 billion in the third quarter after increasing
$15.5 billion in the second (table 4).5 Profits of
domestic industries increased $33.1 billion after
increasing $12.2 billion. Profits of domestic nonfinancial corporations increased much more in
the third quarter than in the second; the thirdquarter increase reflected increases both in real
output and in unit profits. Profits of domestic
financial corporations increased slightly in both
quarters. Profits from the rest of the world decreased $0.9 billion after increasing $3.4 billion;
receipts slowed much more than payments.6
Cash flow from current production, a profitsrelated measure of internally generated funds
available for investment, increased $17.7 billion after increasing $11.3 billion. The ratio of cash flow
to nonresidential fixed investment, an indicator
of the share of the cur rent level of investment that
adjustment; it is shown in NIPA tables 1.9,1.14,1.16, and 6.160 (which are part
of the "Selected NIPA Tables"that begin on page D-2 of this issue) as corporate
profits with inventory valuation and capital consumption adjustments.
6. Profits from the rest of the world is calculated as (i) receipts by U.S.
residents of earnings from their foreign affiliates plus dividends received by
U.S. residents from unaffiliated foreign corporations minus (2) payments by
U.S. affiliates of earnings to their foreign parents plus dividends paid by U.S.
corporations to unaffiliated foreign residents. These estimates are derived
from BEA'S international transactions accounts.
Table 4.—Corporate Profits
[Seasonally adjusted at annual rates]
Level
Change from preceding
quarter
1997
1996
III
IV
1997
I
II
III
Billions of dollars
Profits from current production
Domestic industries
Financial
Nonfinancial
Rest of the world
Receipts (inflows)
Payments (outflows)
IVA
CCAdj
Profits before tax
Profits tax liability
Profits after tax
Cash flow from current production
4. In the estimation of command-basis GNP—a measure of the goods and
services produced by the U.S. economy in terms of their purchasing power—
the current-dollar value of the sum of exports of goods and services and of
receipts of factor income is deflated by the implicit price deflator for the sum
of imports of goods and services and of payments of factor income.
The terms of trade is a measure of the relationship between the prices
that are received by U.S. producers for exports of goods and services and the
prices that are paid by U.S. purchasers for imports of goods and services. It is
measured by the following ratio, with the decimal point shifted two places to
the right: In the numerator, the implicit price deflator for the sum of exports
of goods and services and of receipts of factor income; in the denominator,
the implicit price deflator for the sum of imports of goods and services
and of payments of factor income. Changes in the terms of trade reflect
the interaction of several factors, including movements in exchange rates,
changes in the composition of the traded goods and services, and changes in
producers' profit margins. For example, if the U.S. dollar depreciates against
a foreign currency, a foreign manufacturer may choose to absorb this cost
by reducing the profit margin on the product it sells to the United States,
or it may choose to raise the price of the product and risk a loss in market
share.
5. Profits from current production is estimated as the sum of profits
before tax, the inventory valuation adjustment, and the capital consumption
January 1998
Profits by industry:
Corporate profits with IVA
Domestic industries
Financial
Nonfinancial
Manufacturing
Transportation and public utilities
Wholesale trade
Retail trade .
Other
Rest of the world
8.2
827.3
-7.5
727.5
109.3 -16.1
8.4
618.2
99.9
150.5
50.6
3.6
70.3
15.7
9.2
-6.6
6.0
1.2
.9
753.4
258.2
495.2
-5.6
707.9
16.8
6.5
757.1
7.0
-8.8
657.2
119.4 -15.9
7.1
537.8
240.4
-.8
-.7
90.0
9.7
54.1
57.9
95.3
99.9
31.8
41.9
28.3
13.7
15.5
12.2
.9
11.3
3.4
8.4
5.0
-10.1
-2.7
7.5
.2
3.3
28.4
15.2
13.2
4.3
28.5
38.7
28.4
10.2
-1.5
1.0
1.6
-2.3
6.8
2.3
1.3
15.7
-10.1
2.4
1.7
11.4
3.3
8.1
32.2
33.1
1.6
31.5
-.9
2.2
3.1
-2.3
.9
33.6
13.7
19.9
11.3
17.7
13.8
10.4
31.4
32.3
1.0
9.4
12.8
-1.9
.5
-.2
-1.8
3.4
1.9
30.4
19.4
.4
4.6
3.0
2.9
-.9
Dollars
Unit price, costs, and profits of
nonfmancial corporations:
Unit price
Unit labor cost
Unit nonlabor cost
Unit profits from current production
1.072
.695
.228
.149
.001
.002
.004
.004
-.001
-.001
.001
.001
.003
.001
0
.001
0
-.003
-.001
.005
NOTE.-Levels of these and other profits series are found in NIPA tables 1.14, 1.16, 6.16C,
and 7.15.
IVA Inventory valuation adjustment
CCAdj Capital consumption adjustment
January 1998
SURVEY OF CURRENT BUSINESS
could be financed by internally generated funds,
decreased to 81.2 percent from 82.5 percent. The
third-quarter ratio is in the lower part of the
range in which the ratio has fluctuated during
most of this decade0
The difference between the $22.2 billion step-up
in PBT and the $16.7 billion step-up in profits
from current production was mainly accounted
for by inventory profits, which increased after
decreasing,8
Industry profits,—Industry profits increased
$31.4 billion after increasing $13.8 billion.7 Profits of domestic financial corporations increased
slightly, as they had in the second quarter. Profits
of domestic nonfinancial corporations increased
almost three times as much as in the second
quarter. All of the major industry groups contributed to the step-up. In manufacturing, profits
in motor vehicle manufacturing and in petroleum turned up. Profits both in wholesale and in
retail trade increased after little change, and profits both in "other" nonfinancial corporations and
in "transportation and utilities" increased after a
decrease.
Revisions,—The "final" estimate of a $32.2 billion
increase in profits from current production in
the third quarter is $11.1 billion more than
the "preliminary" estimate released last month.
This large revision was mostly accounted for by
profits from the rest of the world—mainly receipts of profits from foreign affiliates of U.S.
corporations—and was based on revised source
data from the U.S. balance of payments accounts.
In domestic profits, upward revisions to the profits of the transportation and utilities group and
to profits of wholesale and retail trade were
largely offset by a downward revision to profits
of manufacturing industries. Q
Related measures.—Profits before tax (PBT)
increased $33.6 billion after increasing $11.4 billion.
7. Industry profits are estimated as the sum of corporate profits before tax
and the inventory valuation adjustment; they are shown in NIPA table 6.160
(on page D-i6 of this issue). Estimates of the capital consumption adjustment
do not exist at a detailed industry level; they are available only for total
financial and total nonfinancial industries.
8. As prices change, companies that value inventory withdrawals at original acquisition (historical) costs may realize inventory profits or losses.
Inventory profits—a capital-gains-like element in profits—result from an increase in inventory prices, and inventory losses—a capital-loss-like element
in profits—result from a decrease in inventory prices. In the NIPA'S, inventory profits or losses are shown as adjustments to business income (corporate
profits and proprietors' income); they are shown as the inventory valuation
adjustment with the sign reversed.
SURVEY OF CURRENT BUSINESS
January 1998
Real Inventories, Sales, and Inventory-Sales Ratios
for Manufacturing and Trade
Tables i, 2, and 3 show quarterly and monthly estimates of real inventories, sales, and inventory-sales
ratios, respectively. Real manufacturing inventories
by stage of fabrication are shown in table 4. Real
estimates are in chained (1992) dollars.
Data availability
Quarterly estimates for 1977-95 of real manufacturing
and trade inventories, sales, and inventory-sales ratios
and of real manufacturing inventories by stage of fabrication were published in the May 1996 SURVEY OF
CURRENT BUSINESS.
Estimates for 1967 forward are available electronically to subscribers to STAT-USA'S Economic Bulletin
Board or Internet services. For information, call
202-482-1986.
The estimates for 1959-96 are also available from
BEA on the underlying NIPA historical data diskette:
Product number NDN-oi62, price $60.00. To order
using Visa or MasterCard, call the BEA Order Desk at
1-800-704-0415 (outside the United States, 202-6069666). To order by mail, send a check made payable
to "Bureau of Economic Analysis, BE-53" to BEA Order Desk (BE-53), Bureau of Economic Analysis, U.S.
Department of Commerce, Washington, DC 20230.
Table 1.—Real Manufacturing and Trade Inventories, Seasonally
Adjusted, End of Period
Table 2.—Real Manufacturing and Trade Sales, Seasonally Adjusted at
Monthly Rate
[Billions of chained (1992) dollars]
[Billions of chained (1992) dollars]
1997
II
19 37
III
May
June
July
19 97
Aug.' Sept.'
968.6
422.1
976.5
964.3
968.6
970.5
971.9
976.5
979.5
425.8
420.7
422.1
424.2
425.6
425.8
427.5
Durable goods
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment
Transportation equipment
Motor vehicles and equipment
Other transportation equipment
Other durable goods!
268.6
271.0
267.6
218
271.0
21 9
271.9
219
270.4
21 8
271.1
218
268.6
21 8
25.7
60.3
39.5
65.9
14.2
51.7
57.1
26.0
61.1
40.0
66.3
14.4
51.9
25.6
60.1
39.5
65.6
14.5
51.1
56.8
25.7
60.3
39.5
65.9
14.2
51.7
57.1
25.8
60.9
40.2
66.3
14.2
52.1
57.2
25.8
61.2
26.0
61.1
40.0
66.3
14.4
51.9
57.5
26.1
61.6
40.1
66.4
Nondurable goods
Food and kindred products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastic products
Other nondurable goods2
1538
32.1
14.0
38.5
13.9
14.6
1550
32.6
14.1
1533
31.9
14.2
38.2
1538
32.1
14.0
38.5
13.9
14.6
1540
32.2
14.0
38.7
13.7
14.6
1547
32.4
1550
32.6
14.1
155.8
Merchant wholesalers
Durable goods
Nondurable goods
Groceries and farm products
Other nondurable goods
Retail trade
Durable goods
Motor vehicle dealers3
Other durable goods3
Nondurable goods
Food stores
Other nondurable goods
57.5
39.0
13.7
14.7
14.0
14.6
220
40.1
66.3
14.0
522
57.5
13.9
38.6
14.0
14.7
40.8
220
14.0
52.4
57.6
39.0
13.7
14.7
32.8
14.0
39.5
13.5
14.8
407
41 0
405
407
401
405
406
251.7
255.2
246.6
251.7
250.4
252.5
255.2
256.5
161.8
162.8
158.0
161.8
159.9
160.5
162.8
162.9
90.1
26.3
64.1
92.6
26.1
66.8
88.8
25.8
63.3
90.1
26.3
64.1
90.7
26.4
64.5
92.1
26.3
66.1
92.6
26.1
66.8
93.7
294.7
295.4
297.0
294.7
295.8
293.8
295.4
295.5
153.2
153.6
155.5
153.2
153.9
153.0
153.6
154.3
73.0
80.4
72.8
81.0
75.5
80.1
73.0
80.4
72.9
81.2
73.4
79.8
72.8
81.0
72.9
81.5
141.2
141.5
141.1
141.2
141.6
140.5
141.5
140.9
27.3
66.7
28.8
29.0
28.7
28.8
28.7
29.0
29.0
28.9
112.4
112.5
112.3
112.4
112.9
111.4
112.5
112.0
19$)7
II
III
710.0
May
June
Aug.'
Sept.'
722.1
706.1
715.2
723.6
717.5
725.3
725.3
307.5
314.1
305.0
3098
3148
3115
3158
3163
Durable goods
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment
Transportation equipment
Motor vehicles and equipment
Other transportation equipment
Other durable goods 1
174.2
179.9
172.0
13.8
17.6
42.5
31.5
13.5
17.1
40.0
29.9
1802
13.8
17.5
42.6
30.6
1778
13.7
17.5
41.7
31.6
181 8
13.6
17.3
40.5
30.1
1767
13.6
17.4
41.7
30.7
1809
13.9
17.7
43.3
31.7
387
402
379
391
409
398
399
400
26.4
12.7
36.1
28.0
12.6
36.7
25.8
12.5
35.7
26.8
12.7
36.4
28.4
12.9
37.0
28.0
12.2
35.8
27.6
12.7
37.2
28.6
11.9
36.8
Nondurable goods
Food and kindred products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastic products
Other nondurable goods2
133.5
134.5
133.1
133.4
135.0
134.1
134.4
135.8
36.2
12.1
28.7
14.2
11.2
36.3
12.1
28.4
36.2
36.2
12.1
28.6
14.4
11.1
36.4
12.0
28.5
15.0
11.3
36.4
12.1
28.2
15.0
11.2
36.0
12.2
28.6
14.4
11.4
36.8
12.4
28.7
14.8
11.6
313
31 8
312
31 3
31 9
198.9
200.3
198.2
2005
201 3
1975
2019
2017
105.8
107.1
1051
1067
1078
1084
Oct./'
Manufacturing and trade
Manufacturing
Durable goods
Nondurable goods
Groceries and farm products
Other nondurable goods
Retail trade
Durable goods
Motor vehicle dealers 3
Other durable goods3
Nondurable goods
Food stores
Other nondurable goods
14.8
11.3
12.0
28.7
14.2
11.0
July-
315
13.8
17.8
43.2
32.4
320
Oct.P
318
1051
932
931
939
936
924
1084
931
936
934
33.8
59.9
33.5
60.2
33.6
60.0
34.4
33.9
32.9
33.8
34.0
59.9
602
601
603
205.2
209.3
204.5
2064
2090
2099
82.7
85.4
821
420
833
430
849
440
860
449
421
425
41.3
122.3
331
88.8
444
42.0
1238
332
901
41.1
1222
331
887
41.4
1229
329
896
41 9
1239
332
903
1237
33 1
901
2091
852
442
419
1237
333
900
599
2089
848
436
423
1238
333
901
p Preliminary.
'Revised
1. Includes lumber and wood products; furniture and fixtures; stone, clay, and glass products; instruments and
related products; and miscellaneous manufacturing industries.
2. Includes tobacco manufacturers; textile mill products; apparel products; printing and publishing; and leather
and leather products.
3. Prior to 1981, inventories and sales of auto and home supply stores are included in motor vehicle dealers.
Beginning with 1981, these inventories are included in "other durable goods".
p Preliminary.
'Revised
1. Includes lumber and wood products; furniture and fixtures; stone, clay, and glass products; instruments and
related products; and miscellaneous manufacturing industries.
2. Includes tobacco manufacturers; textile mill products; apparel products; printing and publishing; and leather
and leather products.
3. Prior to 1981, inventories and sales of auto and home supply stores are included in motor vehicle dealers.
Beginning with 1981, these inventories are included in "other durable goods".
NOTE—Manufacturing inventories are classified by the type of product produced by the establishment holding
the inventory. Trade inventories are classified by the type of product sold by the establishment holding the inventory.
Chained (1992) dollar inventory series are calculated as the product of the chain-type quantity index and the
average of the end-of-year fixed-weighted inventories for 1991 and 1992, 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.
NOTE.—Manufacturing inventories are classified by the type of product produced by the establishment holding
the inventory. Trade inventories are classified by the type of product sold by the establishment holding the inventory.
Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992 currentdollar 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.
SURVEY OF CURRENT BUSINESS
6 • January 1998
Table 3.—Real Inventory-Sales Ratios for Manufacturing and Trade,
Seasonally Adjusted
Table 4.—Real Manufacturing Inventories by Stage of Fabrication,
Seasonally Adjusted, End of Period
[Ratio, based on chained (1992) dollars]
[Billions of chained (1992) dollars]
19 97
Manufacturing and trade
Manufacturing
19 97
19 37
II
III
1.36
1.35
1.37
1.35
1.34
1.36
1.35
May
June
July
Aug.' Sept/ Oct.P
1.35
137
136
138
136
135
137
135
135
Durable goods
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment
Transportation equipment
Motor vehicles and equipment
Other transportation equipment
Other durable goods l
1 54
1.60
1.49
1.49
1.31
1.70
.54
4.08
1.58
1 51
1.59
1.48
1.44
1.27
1.65
.51
4.12
1.57
1 56
1.62
1.50
1.50
1.32
1.73
.56
4.07
159
1 52
1.60
1.48
1.45
1.29
1.68
.53
4.05
1.57
1 50
1.58
1.48
1.43
1.32
1.62
.50
4.02
1 54
1 53
1 61
1.48
1.47
1.27
1.67
,50
4.29
1 61
1 49
1.59
1.46
1.42
1.23
1.66
.52
4.09
1 55
1 50
1.59
1.47
1.42
1.27
1.66
.49
4.42
1 57
Nondurable goods
Food and kindred products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Ruober and miscellaneous plastic products
Other nondurable goods2
1 15
1 15
1 15
1 15
1 14
1 15
1 15
1 15
.89
.90
.88
.89
.88
.89
.91
.89
1.16
1.34
98
1.30
1.29
1.16
1.37
93
1.30
1.28
1.18
1.33
99
1.32
1.29
1.16
1.35
97
1.31
1.29
1.16
1.36
91
1.29
1.27
1.15
1.37
94
1.32
1.29
1.15
1.37
95
1.28
1.27
1.13
1.38
91
1.28
1.29
127
128
124
126
124
128
126
127
Merchant wholesalers
Durable goods
Nondurable goods .
Groceries and farm products
Other nondurable goods
Retail trade
Durable goods
Motor vehicle dealers 3 .
Other durable goods3
Nondurable goods ...
Food stores
Other nondurable goods
1.53
1.52
1.50
1.52
1.48
.97
.78
.99
.78
95
.77
96
.76
.97
.78
1.07
1.11
1.06
1.07
1.07
1.44
1.41
1.45
1.43
1.85
1.72
1.95
1.16
1.80
1.64
1.93
1.14
1.89
1.84
1 70
1.94
1 15
180
1.95
1.15
1.53
1 00
1.50
1.50
.80
.99
.77
100
.80
1.10
1.11
1.11
1.42
1.40
1.41
1.42
1.81
1.66
1.94
1.14
1.78
1 63
1.90
1.14
1.80
1.65
1.93
1.14
1.82
1.67
1.93
1.14
.87
.87
.87
.87
.87
.88
.87
.87
1.27
1.25
1.27
1.26
1.25
1.24
1.25
1.24
fr Preliminary.
Revised
1. Includes lumber and wood products; furniture and fixtures; stone, clay, and glass products; instruments and
related products; and miscellaneous manufacturing industries.
2. Includes tobacco manufacturers; textile mill products; apparel products; printing and publishing; and leather
and leather products.
3. Prior to 1981, inventories and sales of auto and home supply stores are included in motor vehicle dealers.
Beginning with 1981, these inventories are included in "other durable goods".
NOTE.—Manufacturing inventories are classified by the type of product produced by the establishment holding
the inventory. Trade inventories are classified by the type of product sold by the establishment holding the inventory.
19<J7
II
III
May
June
July
Aug/ Sept/ Oct.*
Materials and supplies
Manufacturing
135.4
136.9
135.0
135.4
136.0
135.8
136.9
137.2
Durable goods
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment
Motor vehicles and equipment
Other transportation 1equipment
Other durable goods
78.8
7.5
9.4
17.0
13.3
67
5.4
197
80.0
7.6
9.6
17.1
13.3
64
6.1
200
78.4
7.5
9.3
16.7
13.3
69
5.1
197
78.8
7.5
9.4
17.0
13.3
67
5.4
197
79.4
7.6
9.5
17.0
13.5
69
5.5
196
79.2
7.6
9.4
16.9
13.3
67
5.7
198
80.0
7.6
9.6
17.1
13.3
64
6.1
200
80.1
7.7
9.5
17.1
13.3
65
6.0
201
Nondurable goods
Food and kindred products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastic products
Other nondurable goods2
56.6
10.2
6.9
12.6
4.1
5.5
174
57.0
10.4
6.8
12.9
4.0
5.6
173
56.7
102
7.0
12.5
4.3
5.5
17.2
56.6
10.2
6.9
12.6
4.1
5.5
17.4
56.6
10.3
6.9
12.7
4.0
5.5
17.3
56.6
10.3
6.8
12.7
4.1
5.5
173
57.0
10.4
6.8
12.9
4.0
5.6
173
57.1
10.5
6.8
12.8
4.0
5.6
174
141.4
1426
141.6
141.4
141.8
143.0
142.6
142.9
115.7
7.4
7.4
23.4
15.2
3.9
42.9
15.6
116.3
7.4
7.5
23.6
15.5
4.8
42.1
15.6
115.6
7.4
7.4
23.4
15.1
4.3
42.5
15.6
115.7
7.4
7.4
23.4
15.2
3.9
42.9
15.6
115.9
7.4
7.5
23.5
15.3
4.1
42.4
15.7
116.8
7.4
7.4
23.7
15.5
4.3
43.0
15.7
116.3
7.4
7.5
23.6
15.5
4.8
42.1
15.6
116.2
7.4
7.4
23.8
15.4
4.3
42.6
15.4
25.8
4.4
1.5
6.8
3.1
2.0
7.9
264
4.7
1.6
7.0
3.1
2.1
7.9
26.0
4.5
1.5
6.8
3.1
2.1
7.9
25.8
4.4
1.5
6.8
3.1
2.0
7.9
25.9
4.5
1.5
6.9
3.0
2.1
8.0
26.3
4.6
1.5
6.9
3.1
2.1
8.0
26.4
4.7
1.6
7.0
3.1
2.1
7.9
26.7
4.7
1.6
7.4
3.0
2.0
8.0
Work-in-process
Manufacturing
Durable goods
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment
Motor vehicles and equipment
Other transportation equipment
Other durable goods l
Nondurable goods
Food and kindred products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastic products
Other nondurable goods2
Finished goods
Manufacturing
145.4
146.4
144.2
145.4
146.5
146.9
146.4
147.5
Durable goods
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment .....
Motor vehicles and equipment
C-ther transportation equipment
Other durable goods l
74.1
6.8
9.0
20.1
11.1
36
3.4
205
74.9
6.9
9.0
20.6
11.2
32
3.7
207
73.7
6.9
8.8
20.1
11.2
33
3.4
203
74.1
6.8
9.0
20.1
11.1
36
3.4
205
75.2
6.8
8.8
20.6
11.4
3.2
4.2
20.6
75.2
6.9
9.0
20.9
11.5
3.1
3.6
20.8
74.9
6.9
9.0
20.6
11.2
3.2
3.7
20.7
75.6
7.0
9.2
20.8
11.5
3.1
3.8
20.8
Nondurable goods
Food and kindred products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastic products
Other nondurable goods2
71.4
17.5
5.7
19.1
6.7
7.1
15.4
71.7
17.5
5.7
19.2
6.7
7.0
15.7
70.7
17.2
5.7
18.9
6.6
7.0
15.2
71.4
17.5
5.7
19.1
6,7
7.1
15.4
71.5
17.5
5.6
19.1
6.7
7.1
15.5
71.8
17.5
5.6
19.1
6.9
7.1
15.7
71.7
17.5
5.7
19.2
6.7
7.0
15.7
72.0
17.6
5.6
19.3
6.4
7.1
15.9
f Preliminary.
-Revised
1. Includes lumber and wood products; furniture and fixtures; stone, clay, and glass products; instruments and
related products; and miscellaneous manufacturing industries.
2. Includes tobacco manufacturers; textile mill products; apparel products; printing and publishing; and leather
and leather products.
NOTE.—Manufacturing inventories are classified by the type of product produced by the establishment holding
the inventory. Trade inventories are classified by the type of product sold by the establishment holding the inventory.
Chained (1992) dollar inventory series are calculated as the product of the chain-type quantity index and the
average of the end-of-year fixed-weighted inventories for 1991 and 1992, 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.
SURVEY OF CURRENT BUSINESS
January 1998
U.S. International Transactions,
Third Quarter 1997
By Harlan W. King and Christopher L Bach
HE u.s. current-account deficit increased to
T
$42.2 billion in the third quarter of 1997
from $37.9 billion (revised) in the second quar-
accounted for the step-up. Net inflows were $68.0
billion, up from $52.1 billion.
The statistical discrepancy—errors and omissions in recorded transactions—was a negative
$25.8 billion in the third quarter, compared with
a negative $14.2 billion in the second.
The following are highlights for the third
quarter:
ter (table A, chart i).1 An increase in the deficit
on goods more than accounted for the increase.
Only small, nearly offsetting changes occurred in
the services, income, and net unilateral transfers
components of the current account.
In the capital account, outflows for U.S. assets abroad increased $101.6 billion in the third
quarter, up from an increase of $90.9 billion in
the second, mostly as a result of larger net U.S.
purchases of foreign securities. Capital inflows
for foreign assets in the United States increased
$169.5 billion, up from an increase of $143.0 billion; a shift to foreign official inflows more than
• The deficit on goods increased as a result of
lower exports and higher imports.
• The deficit on investment income continued to rise, but not as rapidly as in recent
quarters.
• Capital outflows for net U.S. purchases of
foreign securities increased sharply, while
outflows for U.S. direct investment abroad
and for U.S. claims reported by banks
slowed.
• Capital inflows for net foreign private
purchases of U.S. securities other than
i. Quarterly estimates of U.S. current- and capital-account components
are seasonally adjusted when statistically significant seasonal patterns are
present. The accompanying tables present both adjusted and unadjusted
estimates.
Table A.—Summary of U.S. International Transactions
[Millions of dollars, seasonally adjusted]
1996
Lines in tables 1 and 10 in which transactions are included are indicated in ( )
Line
1 Exports of goods services and income (1)
Goods, adjusted, excluding military (2)
2
Services (3)
3
Income receipts on investments (11)
4
5 Imports of goods services and income (15)
Goods adjusted excluding military (16)
6
Services (17)
7
Income payments on investments (25)
8
9 Unilateral transfers (29)
10
11
12
13
14
15
16
U.S. assets abroad, net (increase/capital outflow (-)) (33)
U S official reserve assets, net (34)
U.S. Government assets, other than official reserve
assets net (39)
U.S. private assets, net (43)
Foreign assets in the United States.net (increase/capital
inflow (+)) (48)
Foreign official assets net (49)
Other foreign assets net (56)
17 Allocations of special drawing rights (62)
18 Statistical discrepancy (63)
19
r
Memorandum:
Balance on current account (70)
Revised.
Preliminary.
1996
1,055,233
612,069
236,764
206,400
I
256,382
150,048
57,057
49,277
II
262,335
153,411
58,736
50,188
1997
III
261,979
150,764
59,322
51,893
IV
I
II'
III''
Change:
1997 ll-lll
January-September
1996
1997
Change:
1996-97
295,597
170,579
64,410
60,608
1,729
-832
1,082
1,479
780,696
454,223
175,115
151,358
868,986
504,517
189,463
175,006
88,290
50,294
14,348
23,648
-1,163,450 -278,860 -289,231 -295,865 -299,493 -310,811 -322,760 -328,549
-803,239 -192,973 -200,973 -203,257 -206,036 -212,314 -218,545 -222,128
-156,634 -38,671 -38,953 -39,345 -39,664 -41,238 -41,839 -42,492
-203,577 -47,216 -49,305 -53,263 -53,793 -57,259 -62,376 -63,929
-5,789
-3,583
-653
-1,553
-863,956
-597,203
-116,969
-149,784
-962,120
-£52,987
-125,569
-183,564
-98,164
-55,784
-8,600
-33,780
-244
-28,042
-26,846
1,196
-8,947
274,545
157,846
61,656
55,043
-11,926
279,521
162,527
61,725
55,269
-8,682
293,868
171,411
63,328
59,129
-9,204
-39,968
-10,406
-8,689
-352,444
6,668
-70,768
17
^9,698
-523
-77,542 -154,436 -127,969
7,489
-315
4,480
-90,935 -101,564
-236
-730
-10,629 -198,008 -320,468 -122,460
-494
3,514
6,983
-3,469
-690
-358,422
-210
-70,575
-358
-48,817
162
-284
-21
-85,193 -153,837 -132,428
482
-268
-90,431 -101,316
750
-406
193
599
-10,885 -204,585 -324,175 -119,590
547,555
122,354
425,201
88,233
52,014
36,219
106,114
13,154
92,960
158,629
24,089
134,540
194,579
33,097
161,482
182,238
28,891
153,347
143,015
-5,374
148,389
169,540
22,498
147,042
26,525
27,872
-1 347
352,976
89,257
263,719
494,793
46,015
448,778
141,817
-43,242
185,059
-46,927
15,419
-20,831
-38,254
^,269
-14,297
-14,228
-25,820
-11,592
-43,666
-54,345
-10,679
-148,184
-32,884
-35,585
-42,833
-36,874
-39,972
-37,852
-42,156
-4,304 -111,302 -119,980
-8,678
-3,960
SURVEY OF CURRENT BUSINESS
8 • January 1998
U.S. dollar in exchange markets
U.S. Treasury securities reached a second
successive quarterly record, while net foreign
private purchases of U.S. Treasury securities
slowed.
The U.S. dollar appreciated 3 percent on a
trade-weighted quarterly average basis against the
currencies of 10 industrial countries (table B,
chart 2). Against the German mark, the dollar appreciated 5 percent, largely as growth and
inflation in the United States remained moderate while U.S. long-term interest rates declined.
Concerns early in the quarter over the possible
future weakness of the European Currency Unit
may have also contributed to the decline of the
German mark. As a partial offset to these factors,
German interest rates rose, and data released late
in the quarter indicated that German economic
growth had strengthened.
The U.S. dollar depreciated i percent against
the Japanese yen on a quarterly average basis, but
it appreciated considerably within the quarter, as
additional evidence of weak Japanese economic
expansion and difficulties at Japanese financial
institutions accumulated.
Southeast Asian currencies depreciated sharply
against the dollar, following several decisions to
abandon fixed exchange rates. The central bank
of Thailand was the first to abandon its fixed rate,
followed by central banks in Indonesia, Malaysia,
and the Philippines. On a quarterly average basis, the dollar's appreciation ranged from 11 to 26
percent against several of these currencies. However, the dollar's appreciation within the third
quarter was even larger: From the end of June
to the end of September, it appreciated 43 percent against the Thai baht, 35 percent against the
Indonesian rupiah, 30 percent against the Philippine peso, and 29 percent against the Malaysian
ringgit. Against other Asian currencies, the dollar
appreciated considerably less—7 percent against
the Singapore dollar, 3 percent against the Taiwan
dollar, and 3 percent against the South Korean
CHART1
U.S. Current-Account Balance and
Its Components
Billion $
30
20
10
0
-10
-20
-30
-40
-50
-60
30
Balance on services 20
10
0
-10
-20
-30
-40
Balance on goods -
-50
-60
92
93
94
95
Seasonally adjusted
U.S. Department of Commerce, Bureau of Economic Analysis
1990
91
96
97
Table B.—Indexes of Foreign Currency Price of the U.S. Dollar
[March 1973=100)
19 96
Trade-weighted average against 10 currencies '
Selected currencies: 2
Canada
European currencies:
III
IV
87.1
87.9
137.5
135.5
783
France
Germany
Italy
Netherlands
Switzerland
United Kingdom
80.1
I
II
93.7
95.7
98.6
87.5
88.0
87.0
88.7
91.0
94.5
95.6
96.4
95.3
954
139.1
139.0
137.4
135.5
134.3
136.7
135.4
136.0
137.7
139.9
138.5
138.9
788
799
791
81 2
116 1
840
877
887
896
893
905
136.4
868
898
III
94.7
Sept.
Oct.
Dec.
123.9
128.0
134.7
58.9
61.0
64.2
53.6
54.3
1133
53.7
2677
267.9
288.3
297.6
310.1
267.6
268.2
266.4
2690
585
59.8
40.0
64.9
44.6
67.2
44.9
70.9
46.3
58.9
38.4
59.7
39.1
59.1
39.6
60.7
41.3
155.8
148.7
429
429
38.0
159.1
41 6
151.0
43.1
151.6
463
151.2
457
152.2
45.1
113.6
158.5
420
114.4
Nov.
54.4
114.6
1. Currencies of Belgium, Canada. France, Germany. Italy, Japan, Netherlands, Sweden, Switzerland, and United
Kingdom. Data: Federal Reserve Board. Monthly and quarterly average rates. Index rebased by BEA.
2. Data: Federal Reserve Board. Monthly and quarterly average rates. Indexes prepared by BEA.
1997
532
1128
.
19 96
1997
552
148.6
435
Jan.
Feb.
Mar.
1277
May
1273
1199
57.0
1252
595
602
609
606
2760
291 3
2977
2982
2964
62.8
43.2
65.5
45.2
66.4
45.5
67.1
45.4
149.1
152.1
153.6
151.7
470
469
480
450
1266
Apr.
66.8
44.5
151.5
455
June
129 1
61 4
2983
677
448
1503
437
Aug.
Sept.
975 1000
983
July
1382
940
1340
1395
936
1373
1329
638
654
3073
3163
704
461
1481
44 1
1392
965
635
3068
721 701
470 457
1542
450
1544
462
SURVEY OF CURRENT BUSINESS
January 1998
won. The U.S. dollar was unchanged against the
Hong Kong dollar.
CHART2
Current Account
Indexes of Foreign Currency
Price of the U.S. Dollar
Goods and services
March 31,1997=100
The deficit on goods and services increased to
$29.6 billion in the third quarter from $25.6 billion in the second. The deficit on goods increased
to $51.5 billion from $47.1 billion, and the surplus
on services increased to $21.9 billion from $21.5
billion.
120
110
100
Goods.—The deficit on goods increased to $51.5
billion in the third quarter from $47.1 billion
in the second.
The increase resulted from
a combination of lower exports and higher
imports.
90
140
Indonesian rupialu
130
Exports.—Exports decreased $0.8 billion, or less
than i percent, to $170.6 billion in the third quarter. Quantity, measured in chained (1992) dollars,
increased less than i percent, and prices decreased
i percent (table C).
Nonagricultural exports decreased $1.3 billion,
or i percent, to $156.0 billion; the decrease
more than accounted for the decrease in total
exports. Quantity was unchanged, and prices
decreased i percent. In value, nearly all of
the decrease in nonagricultural exports was accounted for by industrial supplies and materials
and resulted from a decrease in nonmonetary
gold. Excluding nonmonetary gold, nonagricultural industrial supplies and materials increased,
largely because of an increase in energy products. Both durable and nondurable consumer
goods declined slightly. Automotive products
were virtually unchanged, as a decrease in exports to Canada and Western Europe offset an
increase in exports to Mexico. Capital goods, except autos, increased slightly but were held down
Thai bhat'
120
110
Philippines peso ^
Malaysian rmggit
100
90
120
110
South Korean won.
Taiwan dollar
100
Singapore dollar'
Hong Kong dollar'
90
April
May
June
July
Aug.
Sept.
Indexes prepared by BEAIrom weekly data.
Data: Federal Reserve Board and The Wall Street Journal.
US. Department of Commerce, Bureau of Economic Analysis
Table C.—U.S. Trade in Goods, Current and Chained (1992) Dollars
[Balance of payments basis, millions of dollars, quarters seasonally adjusted]
Current dollars
Chained (1992) dollars
1997
1996
1995
1996
1996
I
II
III
IV
I
1995
II'
III"
1997
1996
I
II
III
IV
I
II '
III"
575,871 612,069 150,048 153,411 150,764 157,846 162,527 171,411 170,579 565,887 622,803 149,749 154,804 153,998 164,252 170,007 180,243 180,698
Exports
57,229 61,488 15,863 15,080 15,093 15,452 14,322 14,108 14,535 49,484 48,569 12,600 11,338 11,700 12,931 11,925 11,796 12,370
Agricultural products
Nonagricultural products ... 518,642 550,581 134,185 138,331 135,671 142,394 148,205 157,303 156,044 516,856 575,745 137,344 143,945 142,812 151,644 158,848 169,508 169,245
749,431 803,239 192,973 200,973 203,257 206,036 212,314 218,545 222,128 741,078 817,392 193,748 203,208 208,683 211,753 221,160 232,990 238,591
Imports
Petroleum and products ... 56,155 72,744 14,619 18,514 19,052 20,559 19,170 17,749 17,537 59,285 63,823 14,474 16,472 16,890 15,987 15,535 17,034 17,244
693,276 730,495 178,354 182,459 184,205 185,477 193,144 200,796 204,591 680,515 751,801 178,891 186,183 191,282 195,445 205,691 215,910 221,419
Nonpetroleum products
'
p
Revised.
Preliminary.
1. Because chain indexes use weights of more than one period, the corresponding chained dollar estimates are
usually not additive.
1O • January 1998
SURVEY OF CURRENT BUSINESS
by a sharp drop in deliveries of civilian aircraft,
largely to the United Kingdom; shortages of aircraft parts at a major U.S. manufacturer were
responsible for the drop. Among other capital
goods, high-technology commodities increased
significantly. Computers, peripherals, and parts
reflected growth in the personal computer market; shipments of computers to Canada and of
parts and accessories to the Netherlands were
particularly strong in the quarter. Semiconductors continued to rebound from sluggish growth
in 1996, reflecting increased exports to Mexico,
Singapore, Canada, and Malaysia. Telecommunications equipment also increased; shipments to
Japan accounted for over one-half of the increase.
Shipments of agricultural, industrial, and service
industry machinery also continued to rise.
Agricultural exports increased $0.4 billion, or
3 percent, to $14.5 billion. Quantity increased 5
percent, and prices decreased 2 percent. Lower
prices for bulk products pulled down the value
for all agricultural exports. In value, wheat increased $0.6 billion and more than accounted for
the increase in agricultural exports; exports to
Egypt were particularly high. Cotton also increased. These increases were partly offset by
decreases in exports of soybeans, mainly to Japan,
and of tobacco, mainly to Japan and Western
Europe.
Imports.—Imports increased $3.6 billion, or 2
percent, to $222.1 billion in the third quarter.
Quantity, measured in chained (1992) dollars, increased 2 percent, and prices decreased i percent
(table C).
Nonpetroleum imports rose $3.8 billion, or 2
percent, to $204.6 billion and more than accounted for the increase in total imports. Quantity increased 3 percent, and prices decreased i
percent. In value, capital goods, except autos,
accounted for over two-thirds of the increase.
Civilian aircraft, engines, and parts accounted for
nearly one-third of the increase in capital goods,
primarily reflecting stronger imports from France
and the United Kingdom. The increase in capital goods also reflected increases in computers,
peripherals, and parts and in semiconductors,
largely from Japan, Taiwan, the Philippines,
China, Malaysia, Singapore, and Mexico. Automotive products rebounded from a decline in
the second quarter, reflecting increased imports
of cars from Japan and of trucks and parts from
Canada. Consumer goods increased moderately,
largely reflecting stronger purchases of textile apparel and household goods from China and Hong
Kong. The increases in these major commodity
categories were offset by a decrease in nonpetroleum industrial supplies and materials; the
decrease, like that in exports, was more than accounted for by a large drop in nonmonetary gold.
Excluding nonmonetary gold, nonpetroleum industrial supplies and materials rose moderately;
chemicals accounted for more than one-half of
the increase.
Petroleum imports fell for the third consecutive
quarter, to $17.5 billion from $17.7 billion. The average number of barrels imported daily increased
to 10.93 million from 10.80 million, but the average price per barrel decreased to $17.57 from
$18.00. Domestic consumption and inventories
rose, while production was virtually unchanged.
Balances by area.—As noted earlier, the deficit
on goods increased to $51.5 billion in the third
quarter from $47.1 billion in the second. The
deficit with the developing countries in Asia increased to $28.2 billion from $19.9 billion, more
than accounting for the rise in the global deficit.
The deficit with China accounted for most of
the increase, rising $3.4 billion to $15.1 billion.
The deficit with the newly industrialized countries in Asia (Hong Kong, the Republic of Korea,
Singapore, and Taiwan) rose $2.0 billion, to $3.6
billion. For the remaining countries in Asia (including Thailand, Indonesia, Malaysia, and the
Philippines), the deficit rose $2.9 billion, to $9.5
billion.
The deficit with the industrial countries decreased to $21.0 billion from $21.7 billion. An
increase in the deficit with Japan was more than
offset by a decrease in the deficit with Canada;
the deficit with Western Europe changed little.
Services.—The surplus on services increased to
$21.9 billion in the third quarter from $21.5 billion
in the second, as exports increased more than
imports.
Foreign visitors to the United States spent $19.0
billion, up from $18.6 billion; receipts from overseas visitors (excluding visitors from Canada and
Mexico) accounted for nearly all of the increase.
U.S. residents spent $13.1 billion abroad, up
slightly from $13.0 billion; expenditures by travelers overseas (excluding travelers to Canada and
Mexico) more than accounted for the increase.
Passenger fare receipts increased slightly to $5.6
billion, and passenger fare payments increased
slightly to $4.3 billion.
"Other" transportation receipts increased slightly to $7.1 billion, as port expenditure receipts
increased. "Other" transportation payments decreased slightly to $7.5 billion; freight payments
SURVEY OF CURRENT BUSINESS
and port expenditure payments changed by only
small amounts.
"Other" private service receipts increased to
$21.2 billion from $20.6 billion; among unaffiliated services, much of the increase was attributable to business, professional, and technical
services and to financial services. "Other" private
service payments increased to $12.3 billion from
$11.9 billion, mostly as a result of an increase in
affiliated services.
Transfers under U.S. military sales contracts
increased slightly to $3.7 billion. Direct defense
expenditures abroad increased slightly to $2.7
billion.
Investment income
The deficit on investment income increased to
$3.3 billion in the third quarter from $3.2 billion
in the second, a much smaller increase than in
recent quarters, as payments increased more than
receipts.
Direct investment income.—Receipts of income
on U.S. direct investment abroad edged up to
a record $28.1 billion in the third quarter from
$28.0 billion in the second. Earnings from most
geographic areas remained at a high level. By
industry, an increase in manufacturing was virtually offset by a decrease in "other" industries.
Net interest receipts were unchanged.
Payments of income on foreign direct investment in the United States increased to a
record $10.7 billion from $10.2 billion. Earnings of affiliates of Japanese and Western European parents, in particular, continued to rise;
much of the increase was in "other" industries
(mainly wholesale trade). Net interest payments
decreased.
Portfolio investment income.—"Other" private income receipts increased to $31.6 billion in the
third quarter from $30.2 billion in the second.
Receipts on securities holdings accounted for
much of the increase, but receipts on bank claims
and nonbank claims also rose.
"Other" private income payments increased to
$29.8 billion from $29.3 billion. A decline in interest rates held down the increase in payments
on securities holdings, and payments on bank
liabilities and nonbank liabilities changed little.
U.S. Government income payments increased to
$23.5 billion from $22.8 billion.
Unilateral transfers
Net unilateral transfers were $9.2 billion in the
third quarter, up from $9.0 billion in the second.
Capital Account
Capital inflows for foreign assets in the United
States accelerated more rapidly than capital outflows for U.S. assets abroad. Net capital inflows
were $68.0 billion in the third quarter, up from
$52.1 billion in the second.
U.S. assets abroad
U.S. assets abroad increased $101.6 billion in the
third quarter, following an increase of $90.9 billion in the second. Net U.S. purchases of foreign
securities increased sharply, while increases in
U.S. direct investment abroad and in U.S. bank
claims slowed.
U.S. official reserve assets.—U.S. official reserve
assets increased $0.7 billion in the third quarter,
following a $0.2 billion increase in the second
(table D). The increase in the third quarter was
mostly accounted for by an increase in the U.S.
reserve position in the International Monetary
Fund; in addition, there were smaller increases
in U.S. holdings of special drawing rights and in
U.S. holdings of foreign currencies.
Claims reported by banks.—U.S. claims on foreigners reported by U.S. banks increased $22.8
billion in the third quarter, following an increase
of $27.9 billion in the second. Banks' own claims
slowed, while banks' customers' claims rose.
Banks' own claims payable in dollars increased
$4.4 billion, following an increase of $15.0 billion.
Foreign-owned banks sharply curtailed their international lending in the third quarter. These
banks had apparently been shifting the booking
of international loans from overseas to their U.S.
offices in earlier quarters, but this trend was reversed in the third quarter. The reversal occured
mostly with banks in Canada, the Caribbean, and
Japan. The decrease in claims on foreign-owned
banks was more than offset by a large increase in
claims on other foreigners, largely claims by U.S.
brokers and dealers to finance securities transactions of international bond mutual funds located
in the Caribbean, likely in the form of resale
agreements.
Banks' own claims payable in foreign currencies increased $6.6 billion, following an increase
of $11.3 billion. Most of the increase in the third
January 1998 •
11
SURVEY OF CURRENT BUSINESS
12 • January 1998
quarter was in lending to Caribbean banking
centers, Canada, and Japan.
Banks' domestic customers' claims payable in
dollars increased $12.9 billion, following a small
second-quarter decrease. The reversal was more
than accounted for by a substantial increase in
deposits abroad and purchases of foreign commercial paper in the third quarter, mostly with
Caribbean banking centers and Western Europe.
CHARTS
Securities Transactions
120;
:;ioa
U.S. SECURITIES1
• Marketable U.S. Treasury bonds and notest
•"Other bonds
• Stocks
Total
80
.Net. Purchases
Foreign securities.—Net U.S. purchases of foreign
securities were $38.0 billion in the third quarter,
up from $21.8 billion in the second (chart 3). Net
U.S. purchases of foreign bonds were $22.3 billion, up from $8.6 billion, and net U.S. purchases
of foreign stocks were $15.7 billion, up from $13.3
billion.
Net U.S. purchases of foreign bonds were bolstered by record foreign new issues in the United
States. Corporate borrowers from all areas—but
especially from Latin America, the Caribbean,
and Asia excluding Japan—accounted for most
of the foreign new issues. Borrowers were attracted to the U.S. bond market as long-term
yields declined in the third quarter (chart 4)
and as U.S. investors favored dollar-denominated
fixed-income assets over equities of several of the
emerging market countries, particularly those in
which currency and stock market prices declined
(chart 5). Net trading in outstanding foreign
bonds shifted to large net U.S. purchases, particularly from the United Kingdom, where bond
yields remained substantially above U.S. bond
yields.
The increase in net U.S. purchases of foreign
stocks was more than accounted for by sharply
higher purchases from Western Europe, nearly
all from the United Kingdom, where continued
60
,40
20
FOREIGN SECURITIES
i Stocks
• Bonds
--60
Net Purchases
Total.
-Net Sales
i
i
i
I
1094
i
i
i
I
1905
1996
1997
.- 1 /jExcfu$rt0 iHi3$ac$on5 of fo?$}0R, official a$$8c$is,,' ' '
IJtS. 00f^f&n$ntdf €flSBfflefGef'to$au-of Sconomic Analysis
Table D.—Selected Transactions With Official Agencies
[Millions of dollars]
1996
1996
Changes in foreign official assets in the United States, net
(decrease -) (table 1 line 49)
Industrial countries l
Members of OPEC2
Other countries
Changes in U.S. official reserve assets, net (increase -) (table 1,
line 34)
II
I
January-September
1997
Ill
IV
I
122,354
65,498
12,278
44,578
52,014
39,787
-1,539
13,766
13,154
9,434
5,239
-1,519
24,089
11,367
5,263
7,459
33,097
4,910
3,315
24,872
28,891
18,013
9,272
1,606
6,668
17
-523
7,489
-315
4,480
-8,300
-1,300
-7,000
-8,300
-1,300
-7,000
II
r
-5,374
6,326
2,287
-13,987
III*
Change:
1997 ll-lll
1996
1997
Change:
1996-97
22,498
4,548
3,170
14,780
27,872
-1,778
883
28,767
89,257
60,588
8,963
19,706
46,015
28,887
14,729
2,399
-43,242
-31,701
5,766
-17,307
-730
^94
6,983
3,514
-3,469
-3,500
-8,300
-3,500
4,800
^,500
-8,300
-3,500
4,800
-236
Activity under. U.S. official reciprocal currency arrangements with
foreign monetary authorities:3
Foreign drawings or repayments (— ) net
Drawings
Repayments
* Revised.
p Preliminary.
1. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
2. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries.
Beginning in January 1993, excludes Ecuador.
3. Consists of transactions of the Federal Reserve System and the U.S. Treasury Department's Exchange Stabilization Fund.
SURVEY OF CURRENT BUSINESS
economic growth and strong stock price appreciation attracted U.S. portfolio investment. Net
U.S. purchases from France remained strong,
while net U.S. investment in German stocks
shifted to net purchases from net sales. In
contrast, net U.S. purchases from Japan slowed
sharply, as Japanese stock prices declined in
reaction to domestic financial difficulties and reCHART 4
Long-term Government Bond Yields
Percent
United Kingdom
gional currency concerns. Net purchases from
other Asian countries and from Latin America
increased.
Direct investment.—Net capital outflows for U.S.
direct investment abroad were $24.7 billion in
the third quarter, down from $36.7 billion in
the second. Net intercompany debt shifted to
net inflows from exceptionally large net outflows; the shift was more than accounted for
by inflows from finance affiliates in the United
Kingdom. Debt transactions by finance affiliates
have exhibited exceptionally wide swings over the
past several quarters that appear to be related to
transactions in financial markets abroad. Reinvested earnings declined slightly, but remained
strong. Net equity capital outflows strengthened,
reflecting a few large acquisitions in Western Europe, Latin America, and Canada and a shift to
outflows to affiliates in Asia.
Foreign assets in the United States
-Japan
1993
1994
1995
1996
1997
1. Ten-year government bond yields. Monthly averages. Data: OECD
U.S. Department of Commerce, Bureau of Economic Analysis
CHART 5
Selected World Stock Price Indexes
in Local Currencies
December 1992=100
240
1993
1994
1995
1996
Source: Morgan Stanley Capital International.
Indexes rebased by BEA.
US. Department of Commerce, Bureau of Economic Analysis
1997
Foreign assets in the United States increased
$169.5 billion in the third quarter, following an
increase of $143.0 billion in the second. Capital inflows for net foreign private purchases
of U.S. securities other than Treasury securities
strengthened, while capital inflows for net foreign private purchases of U.S. Treasury securities
slowed. Capital inflows for U.S. bank liabilities
and for foreign direct investment in the United
States also slowed. Foreign official assets shifted
to a net inflow.
Foreign official assets.—Foreign official assets in
the United States increased $22.5 billion in the
third quarter, following a decrease of $5.4 billion
in the second (table D). Much of the increase in
the third quarter was accounted for by a few nonOPEC developing countries. Assets of industrial
countries also increased in the third quarter but
less than in the second.
Liabilities reported by banks.—U.S. liabilities reported by U.S. banks, excluding U.S. Treasury
securities, increased $14.1 billion in the third
quarter, following an increase of $28.1 billion in
the second. The slowdown was mostly accounted
for by a deceleration in banks' own liabilities.
Banks' own liabilities payable in dollars decreased $12.9 billion, following a $12.3 billion
increase. The decrease was more than accounted
for by a $13.9 billion decrease in foreign-owned
banks' liabilities to their own foreign offices
abroad and to unaffiliated foreign banks; sizable
borrowings during the first half of the year were
January 1998
14 • January 1998
SURVEY OF CURRENT BUSINESS
partly repaid, and foreign-owned banks reversed
the recent booking of international loans at their
U.S. offices, mostly by repaying borrowings from
branches in the Caribbean, Canada, and Japan.
An increase of $1.4 billion in U.S.-owned banks'
own liabilities payable in dollars, following an increase of $8.9 billion in the second quarter, also
was associated with the reduction in international
lending.
Banks' own liabilities payable in foreign
currencies increased $13.4 billion, following
a decrease of $0.9 billion.
Most inflows
were from Asia, the Caribbean, and Western
Europe.
Banks' custody liabilities increased $13.6 billion,
following an increase of $16.7 billion. Strong inflows from Caribbean banking centers, Canada,
and the United Kingdom continued.
U.S. Treasury securities.—Net foreign purchases
of U.S. Treasury securities were $36.9 billion
in the third quarter, down from $45.1 billion
in the second (chart 3). Net foreign purchases
of long-term marketable U.S. Treasury bonds
were $34.4 billion, down from $37.1 billion. A
sharp reversal to net sales of U.S. Treasury
bonds by Japan was mostly offset by a substantial step-up to record net purchases from
Western Europe. Japanese investors sold U.S.
Treasury bonds, despite a large spread in yields
that favored U.S. bonds (chart 4), perhaps to offset some of the losses associated with domestic
Japanese financial and real estate market difficulties. Record net purchases from Western Europe,
particularly from the United Kingdom and Germany, were prompted by a large yield spread
favoring U.S. bonds over most European bonds
and possibly by investors' concerns that requirements for entrance into the European Monetary
Union would be loosely interpreted, thus weakening the value of the European Currency Unit.
Net sales of U.S. Treasury bonds by international mutual bond funds in the Caribbean
continued.
Net foreign purchases of U.S. Treasury bills
were $3.0 billion, down from $8.0 billion.
U.S. currency.—Net U.S. currency flows to foreigners were $6.6 billion in the third quarter, up
from $4.8 billion in the second.
Other U.S. securities.—Net foreign purchases of
U.S. securities other than U.S. Treasury securities
were a record $60.8 billion in the third quarter,
up from the previous record of $51.7 billion in
the second (chart 3).
Net foreign purchases of U.S. corporate and
other bonds were a record $37.3 billion, up from
$30.0 billion. Net foreign purchases of U.S. bonds
were boosted by the third consecutive quarterly
record for new issues sold abroad by U.S. corporations. In the third quarter, U.S. corporate
demand for funds by banks and industrial firms,
partly to finance mergers and acquisitions, was
particularly strong. From an investor perspective,
U.S. corporate issues provided higher yields than
those available in most major capital markets except the United Kingdom; continued strength of
the U.S. dollar was an additional incentive to purchase these issues. Net foreign purchases of U.S.
federally sponsored agency/bonds also increased.
Net foreign purchases of U.S. stocks were a
record $23.5 billion, up from the previous record
of $21.7 billion. The increase partly reflected the
attractiveness to foreign investors of the continued rise in U.S. stock prices and the appreciation
of the U.S. dollar, both of which bolstered their
gains. Net purchases increased from Western Europe and the Caribbean, but these increases were
partly offset by a sharp decline in net purchases
from Japan and by a shift to net sales by Canada.
Direct investment.—Net capital inflows for foreign direct investment in the United States were
$21.1 billion in the third quarter, down from $26.6
billion in the second. Net intercompany debt
inflows fell sharply after two consecutive quarters of exceptionally large inflows, mainly as a
result of a large shift to outflows to Western European and Canadian parents. Net equity capital
inflows increased, mostly from Japan, Australia,
and the United Kingdom. Reinvested earnings
also increased.
Tables i through 10 follow. £g|
SURVEY OF CURRENT BUSINESS
January 1998 • 15
Table 1—U.S. International Transactions
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; debits-)1
1996
II
1 Exports of goods, services, and income
Goods, adjusted, excluding military2
2
3
Services3
4
Transfers under U.S. military agency sales contracts4
5
Travel
Passenger fares
6
Other transportation
7
Royalties and license fees5
8
Other private services 5
9
U.S. Government miscellaneous services
10
11
Income receipts on U S assets abroad
Direct investment receipts
12
Other private receipts
13
U S Government receipts
14
15 Imports of goods services and income
Goods, adjusted, excluding military2
16
17
Services3
Direct defense expenditures
18
Travel
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
63a
64
65
66
67
68
69
70
.......
Other transportation
Royalties and license fees5
Other private services s
U.S. Government miscellaneous services
Income payments on foreign assets in the United States
Other private payments
U.S. Government payments
Unilateral transfers, net
U.S. Government grants 4
U.S. Government pensions and other transfers
Private remittances and other transfers6
U.S. assets abroad, net (increase/capital outflow (-))
U.S. official reserve assets, net7
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
U.S. Government assets, other than official reserve assets, net
U.S. credits and other long-term assets
Repayments on U.S. credits and other long-term assets8
U.S. foreign currency holdings and U.S. short-term assets, net
U.S. private assets, net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
U.S. claims reported by U.S. banks, not included elsewhere
Foreign assets in the United States, net (increase/capital inflow (+)) ....
Foreign official assets in the United States, net
U.S. Government securities9
U.S. Treasury securities
Other10
....
Other U.S Government liabilities11
U.S. liabilities reported by U.S.
banks,
not included elsewhere
Other foreign official assets 12
Other foreign assets in the United States, net
Direct investment
U.S. Treasury securities and U.S. currency flows
U S securities other than U S Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns
«
U.S. liabilities reported by U.S. banks, not included elsewhere
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
Memoranda:
Balance on goods (lines 2 and 16)
Balance on services (lines 3 and 17)
Balance on goods and services (lines 64 and 65)
Balance on investment income (lines 1 1 and 25)
Balance on goods, services, and income (lines 1 and 15 or lines 66 and
67)i3 _
Unilateral transfers net (line 29)
Balance on current account (lines 1,15, and 29 or lines 68 and 69) 13
See footnotes on page 27.
Seasonally adjusted
1997
1996
I
IV
III
1996
IIr
III*
II
1997
IV
III
I
IK
III''
1,055,233
261:665
260,424
276,672
278,315
293,478
294,545
262,335
261,979
274,545
279,521
293,868
295,597
612,069
154,198
145,670
160,759
162,812
172,548
165,691
153,411
150,764
157,846
162,527
171,411
170,579
236,764
14,647
57,121
3,961
63,564
3,572
60,669
4,022
59,841
3,190
61,652
3,727
69,075
3,740
58,736
3,961
59,322
3,572
61,656
4,022
61,725
3,190
63,328
3,727
64,410
3,740
69,908
20,557
27,216
17,165
4,769
6,788
21,041
6,104
6,763
16,898
4,916
7,229
16,421
4,976
6,873
18,428
5,302
7,029
22,696
6,513
7,193
17,356
4,952
6,805
17,659
5,237
6,716
18,183
5,282
7,142
18,556
5,319
6,999
18,605
5,511
7,043
18,977
5,571
7,140
29,974
73,569
893
7,170
17,082
187
7,410
18,464
210
8,273
19,124
207
7,389
20,789
203
7,445
19,530
191
7,527
21,217
189
7,345
18,130
187
7,495
18,433
210
7,703
19,117
207
7,699
19,759
203
7,622
20,629
191
7,604
21,189
189
206,400
98,890
102,866
4,644
50,346
24,318
25,053
975
51,190
23,837
25,938
1,415
55,243
27,123
27,232
888
55,663
26,164
28,544
955
59,278
28,380
30,151
747
59,779
27,138
31,643
998
50,188
23,929
25,053
1,206
51,893
24,675
25,938
1,280
55,043
26,898
27,232
913
55,269
25,872
28,544
853
59,129
27,970
30,151
1,008
60,608
28,088
31,643
877
-1,163,450
-289,195
-301,489
-302,337
-300,017
-322,999
-335,255
-289,231
-295,865
-299,493
-310,811
-322,760
-328,549
-803,239
-199,450
-205,518
-210,542
-204,876
-217,230
-225,289
-200,973
-203,257
-206,036
-212,314
-218,545
-222,128
-156,634
-10,861
-40,128
-2,747
-42,415
-2,780
-38,253
-2,727
-38,247
-2,753
-43,073
-2,679
-45,746
-2,700
-38,953
-2,747
-39,345
-2,780
-39,664
-2,727
-41,238
-2,753
-41,839
-2,679
-42,492
-2,700
-48,739
-15,776
-28,453
-13,236
-4,188
-7,222
-14,321
-4,406
-7,380
-10,690
-3,637
-7,203
-10,935
-3,947
-7,191
-14,205
-4,445
-7,514
-15,664
-4,789
-7,686
-12,099
-3,943
-7,253
-11,915
-3,920
-7,218
-12,241
-4,053
-7,166
-13,018
-4,283
-7,378
-13,003
-4,201
-7,542
-13,101
-4,281
-7,518
-7,322
-42,796
-2,687
-1,606
-10,473
-2,154
-10,682
-1,865
-11,451
-1,772
-10,962
-1,758
-11,793
-1,963
-12,262
-1,684
-10,570
-2,144
-10,676
-1,770
-11,027
-1,799
-11,321
-1,847
-11,888
-1,951
-12,259
-203,577
-32,132
-100,103
-71,342
-49,616
-8,184
-24,600
-16,832
-53,556
-9,905
-25,158
-18,493
-53,542
-7,554
-26,135
-19,853
-56,895
-8,175
-27,581
-21,139
-62,696
-10,561
-29,341
-22,794
-64,220
-10,992
-29,759
-23,469
-49,305
-7,873
-24,600
-16,832
-53,263
-9,612
-25,158
-18,493
-53,793
-7,805
-26,135
-19,853
-57,259
-8,539
-27,581
-21,139
-657
-692
-680
-686
-679
-682
-657
-692
-680
-686
-679
-62,376
-10,241
-29,341
-22,794
-682
-63,929
-10,701
-29,759
-23,469
-39,968
-8,122
-9,103
-12,305
-«,604
-8,623
-9,061
-8,689
-8,947
-11,926
-8,682
-8,960
-9,204
-14,933
-4,331
-20,704
-2,423
-5,499
-1,407
-5,399
-2,109
-5,700
-2,245
-1,057
-5,321
-2,252
-4,918
-2,690
-1,188
-5,225
-5,873
-2,423
-1,081
-5,185
-2,690
-1,064
-5,193
-5,499
-1,050
-5,377
-2,109
-1,083
-5,490
-2,245
-1,128
-5,587
-2,252
-1,099
-5,853
-352,444
-51,161
-78,638
-149,829
-130,316
-92,849
-103,146
-49,698
-77,542
-154,436
-127,969
-90,935
-101,564
-781
-795
-936
6,668
-523
7,489
-315
4,480
-236
-730
-523
7,489
^315
4,480
-236
-730
370
-1,280
7,578
-133
-220
-170
848
-146
72
1,055
3,353
-133
-139
-463
-128
-133
-220
-170
848
-146
72
1,055
3,353
-133
-139
-463
-128
-183
6,824
-28
-141
54
-157
-183
6,824
-28
-141
54
-157
-690
-358
-4,930
4,134
106
-1,489
870
261
162
-1,127
1,206
83
-1,238
1,045
-91
-21
-1,107
1.111
-25
-1,613
1,358
-13
482
-1,382
1,872
-8
-1,489
870
261
162
-1,127
1,206
83
-1,238
1,045
-91
-21
-1,107
1,111
-25
-1,613
1,358
-13
482
-1,382
1,872
-8
-358,422
-37,813
-108,189
-50,280
-25,097
-20,328
-86,289
-12,200
-23,206
-149,230
-26,258
-30,200
-134,775
-28,773
-14,510
-92,345
-38,573
-21,841
-102,898
-26^43
-37,995
-48,817
-23,634
-20,328
-85,193
-11,104
-23,206
-153,837
-30,865
-30,200
-132,428
-26,426
-14,510
-90,431
-36,659
-21,841
-101,316
-24,661
-37,995
-64,234
-98,186
-5,047
192
-17,294
-33,589
-26,115
-66,657
-29,466
-62,026
-3,984
-27,947
-15,900
-22,760
-5,047
192
-17,294
-33,589
-26,115
-66,657
-29,466
-62,026
^3,984
-27,947
-15,900
-22,760
547,555
106,568
159,231
193,738
181,978
143,508
170,177
106,114
158,629
194,579
182,238
143,015
169,540
122,354
115,634
111,253
4,381
720
4,722
1,278
13,154
-2,125
-5,383
1,258
33,097
35,418
33,564
1,854
160
-4,270
1,789
28,891
23,940
23,289
651
478
7,698
-3,225
-5,374
-11,464
-12,108
644
654
4,536
900
22,498
9,148
6,485
2,663
16
12,705
629
13,154
-2,125
-3,383
1,258
14,198
1,285
24,089
26,689
25,472
1,217
907
-1,922
-1,585
14,198
1,285
24,089
26,689
25,472
1,217
907
-1,922
-1,585
33,097
35,418
33,564
1,854
160
-4,270
1,789
28,891
23,940
23,289
651
478
7,698
-3,225
-5,374
-11,464
-12,108
644
654
4,536
900
22,498
9,148
6,485
2,663
16
12,705
629
425,201
76,955
172,878
133,798
93,414
17,894
36,152
29,761
135,142
26,579
50,798
35,115
160,641
16,820
75,326
32,447
153,087
30,381
51,289
38,820
148,882
27,101
49,915
51,682
147,679
21,713
43,494
60,770
92,960
17,440
36,152
29,761
134,540
25,977
50,798
35,115
161,482
17,661
75,326
32,447
153,347
30,641
51,289
38,820
148,389
26,608
49,915
51,682
147,042
21,076
43,494
60.770
31,786
9,784
7,288
2,319
20,610
2,040
-2,912
38,960
15,210
17,387
-7,916
28,100
7,600
14,102
7,288
2,319
20,610
2,040
-2,912
38,960
15,210
17,387
-7,916
28,100
7,600
14,102
-46,927
-19,755
-30,424
-5,938
-21,356
-12,515
-17,260
-20,831
-1,076
-38,254
-7,830
-3,269
2,669
-14,297
7,059
-14,228
-1,713
-25,820
-6,560
-191,170
80,130
-111,040
2,824
-45,252
16,993
-28,259
729
-59,848
21,149
-38,699
-2,367
-49,783
22,416
-27,367
1,701
-42,064
21,594
-20,470
-1,232
-44,682
18,579
-26,103
-3,418
-59,598
23,329
-36,269
-4,441
-47,562
19,783
-27,779
883
-52,493
19,977
-32,516
-1,370
-48,190
21,992
-26,198
1,250
-49,787
20,487
-29,300
-1,990
-47,134
21,489
-25,645
-3,247
-51,549
21,918
-29,631
-3,321
-108,216
-59,968
-148,184
-27,530
-8,122
-35,652
-41,066
-9,103
-50,169
-25,666
-12,305
-37,971
-21,702
-8,604
-30,306
-29,521
-8,623
-38,144
-40,710
-9,061
-49,771
-26,896
-8,689
-35,585
-33,886
-8,947
-42,833
-24,948
-11,926
-36,874
-31,290
-8,682
-39,972
-28,892
-8,960
-37,852
-32,952
-9^04
-42,156
-204
-284
-268
-358
-204
-284
-268
SURVEY OF CURRENT BUSINESS
l6 • January 1998
Table 2.-U.S. Trade in Goods
[Millions of dollars]
Not seasonally adjusted
Line
1996
II
I
A
Balance of payments adjustments to Census trade data:
1
Exports of goods, Census basis ' including reexports and including military
arant shipments
Seasonally adjusted
1996
1997
III
IIr
I
IV
1996
II
I
III'
1997
III
I
IV
\V
III*
EXPORTS
JJIUIIl WIII|«IIIWIIM>
625,075 153,832 157,053 149,771 164,419 165,022 175,097 168,894 152,439 156,266 154,865 161,505 164,737 173,960 173,781
Adjustments:
2
Private gift parcel remittances
816
213
209
187
207
217
196
191
213
209
187
207
217
196
3
Gold exports, nonmonetary
264
0
247
8
9
0
22
0
0
247
8
9
0
22
0
4
5
6
Inland U.S. freight to Canada2
U.S.-Canadian reconciliation adjustments, n.e.c., net3
Exports transferred under U.S. military agency sales contracts identified in Census
documents4
Other adjustments net5
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-12,427
-1,659
-2,160
-2,943
-3,859
-3,465
-1,929
-2,177
-2,751
-2,160
-2,943
-3,859
-3,465
-1,929
-2,177
-2,751
-443
-368
-437
-411
-498
-590
-643
-443
-368
-437
-411
-498
-590
-643
7
8
191
Equals: Exports of goods, adjusted to balance of payments basis excluding
612,069 151,442 154,198 145,670 160,759 162,812 172,548 165,691 150,048 153,411 150,764 157,846 162,527 171,411 170,579
IMPORTS
9
Imports of goods, Census basis ' (general imports)
795,289 185,853 195,717 204,016 209,703 202,744 214,423 224,562 191,097 197,240 201,755 205,197 210,182 215,738 221,401
Adjustments:
10
11
12
13
14
15
Electric energy
Gold imports nonmonetary
Inland freight in Canada2
U S -Canadian reconciliation adjustment n.e.c. net3
Imports of U S military agencies identified in Census documents 4
Other adjustments net 6 '
16
Equals: Imports of goods, adjusted to balance of payments basis, excluding
"military" (table 1, line 16)
B
Trade in goods, by area and country, adjusted to balance of payments basis,
excluding military:8
1
Total all countries (A-8)
73
4,948
3,595
0
-504
-162
18
1,056
935
0
-98
-35
18
2,973
913
0
-136
-35
18
794
862
0
-131
19
125
885
0
-139
-41
-51
18
1,352
917
0
18
1,980
982
0
-119
-144
-36
-29
18
0
914
0
-178
-27
18
1,056
935
0
-98
-35
18
2,973
913
0
-136
-35
18
794
862
0
-131
19
125
885
0
-139
-41
-51
18
1,352
917
0
18
1,980
982
0
-119
-144
-36
18
0
914
0
-178
-29
-27
803,239 187,729 199,450 205,518 210,542 204,876 217,230 225289 192,973 200,973 203,257 206,036 212,314 218,545 222,128
EXPORTS
612,069 151,442 154,198 145,670 160,759 162,812 172,548 165,691 150,048 153,411 150,764 157,846 162,527 171,411 170,579
2
3
4
5
6
7
8
9
10
11
Western Europe
European Union
Belgium and Luxembourg
France ...
Germany9
Italy
Netherlands
United Kingdom
Other
Western Europe, excluding EU
137,194
124,786
12,685
14,454
22,970
8,621
16,501
30,246
19,309
12,408
34,930
31,663
3,148
3,742
5,853
2,406
4,129
7,275
5,110
3,267
36,075
32,501
3,126
3,560
5,805
2,312
3,917
9,025
4,756
3,574
30,568
27,890
3,056
3,175
5,295
1,780
3,523
6,954
4,107
2,678
35,621
32,732
3,355
3,977
6,017
2,123
4,932
6,992
5,336
2,889
38,645
35,089
3,429
3,842
6,136
2,229
4,755
9,554
5,144
3,556
39,866
35,147
3,373
3,985
6,268
2,332
4,818
9,327
5,044
4,719
35,404
32,449
3,423
3,740
5,799
2,007
4,753
8,149
4,578
2,955
34,668
31,457
3,133
3,729
5,815
2,391
4,083
7,243
5,063
3,211
35,853
32,294
3,101
3,532
5,761
2,300
3,920
8,946
4,734
3,559
31,614
28,815
3,148
3,269
5,468
1,844
3,653
7,167
4,266
2,799
35,059
32,220
3,303
3,924
5,926
2,086
4,845
6,890
5,246
2,839
38,553
35,040
3,435
3,848
6,133
2,222
4,738
9,547
5,117
3,513
39,533
34,844
3,342
3,946
6,213
2,313
4,781
9,240
5,009
4,689
36,385
33,321
3,513
3,834
5,951
2,065
4,883
8,362
4,713
3,064
12
13
14
15
Canada3
japan
Australia, New Zealand, and South Africa10
Australia
...
134,609
65,954
33,204
17,166
34,378
16,476
32,353
16,131
34,674
16,181
36,823
16,448
39,042
16,557
36,795
15,702
33,027
16,910
34,124
16,474
33,323
16,768
34,135
15,802
36,921
16,336
38,738
16,533
37,727
16,265
11,705
2,985
2,910
2,895
2,915
2,823
3,095
3,080
2,973
2,879
2,980
2,873
2,827
3,068
3,160
16
Eastern Europe
7,359
1,933
1,634
1,788
2,004
1,811
, 2,110
1,749
1,896
1,646
1,873
1,944
1,782
2,109
1,822
17
18
19
20
21
Latin America and Other Western Hemisphere
Brazil
Mexico
Venezuela
Other
108,864
12,347
56,735
4,665
35,117
24,686
2,557
12,965
1,063
8,101
26,460
2,918
13,647
1,216
8,679
27,718
3,373
14,343
1,181
8,821
30,000
3,499
15,780
1,205
9,516
29,516
3,377
15,665
1,298
9,176
32,425
3,829
16,980
1,653
9,963
34,444
4,088
18,571
1,840
9,945
24,475
2,540
12,861
1,052
8,022
26,305
2,889
13,574
1,210
8,632
28,642
3,476
14,813
1,220
9,133
29,442
3,442
15,487
1,183
9,330
29,524
3,379
15,696
1,294
9,155
32,218
3,792
16,873
1,644
9,909
35,428
4,188
19,093
1,891
10,256
22
23
24
25
26
27
28
29
30
31
Other countries in Asia and Africa810
Asia8 10
Members of OPEC
China
Hong Kong
.
146,382
135,380
13,856
11,938
13,873
25,653
16,253
17,540
10,636
1,804
36,536
33,787
3,254
3,150
3,157
6,303
4,310
4,359
2,679
396
36,265
33,548
3,507
2,486
3,575
6,354
4,104
4,573
2,608
602
34,217
31,452
3,272
2,514
3,300
6,264
3,909
3,995
2,685
381
39,364
36,593
3,823
3,788
3,841
6,732
3,930
4,613
2,664
425
36,746
34,380
3,275
2,857
3,486
6,337
4,336
4,542
2,281
310
39,453
36,807
3,953
2,921
3,933
6,982
4,290
4,546
2,550
389
38,517
35,240
3,676
2,991
3,780
5,814
4,689
4566
3,157
522
36,097
33,410
3,202
3,112
3,126
6,211
4,278
4,304
2,619
385
36,130
33,402
3,484
2,486
3,560
6345
4,064
4,559
2,608
604
35,564
32,656
2,624
3,417
6,502
4,029
4,162
2,814
400
38,591
35,912
3,749
3,716
3,770
6,595
3,882
4,515
2,595
415
36,584
34,242
3,250
2,844
3,472
6,296
4,348
4,515
2,259
306
39,212
36,570
3,927
2,905
3,913
6,942
4,246
4,528
2,546
390
39,792
36,367
3,800
3,081
3,903
6,015
4,806
4,731
3,300
546
32
International oraanizations and unallocated
I
0
I
0
0
0
0
83,222
4,834
57,614
90,552
5,453
64,754
95,852
4,883
62,077
86,001
5,041
59,722
89,009
5,347
63,490
99,139
5,961
66,311
94,824
6,237
69,518
Singapore
Taiwan
Africa 8 10
Members of OPEC
3421
Memoranda:
33
34
35
Industrial countries 8
Other countries 8
See footnotes on page 27.
354,30
20,32
237,44
89,483
4,713
57,244
91,044
5,325
57,829
99,836
5,995
66,717
92,234
6,038
67,419
88,766
4,639
56,64
90,525
5,298
57,588
95,750
4,850
61,927
January 1998 •
SURVEY OF CURRENT BUSINESS
1J
Table 2.—U.S. Trade in Goods—Continued
[Millions of dollars]
Not seasonally adjusted
Line
1996
Seasonally adjusted
1997
1996
1
II
1
IV
III
1996
If
I
III'
II
1997
III
1
IV
II'
III"
and country, adjusted to balance of payments basis,
B Trade in goods, by area
8
excluding military —Continued:
IMPORTS
36
Total, all countries (A-16)
37
38
39
40
41
42
43
44
45
46
Western Europe
European Union
Belgium and Luxembourg
France
Germany9
Italy
Netherlands
United Kinodom
Other
Western Europe, excluding EU
47
48
49
50
Canada3
japan
Australia New Zealand and South Africa 10
Australia
51
Eastern Europe
52
53
54
55
56
803,239 187,729 199,450 205,518 210,542 204,876 217,230 225,289 192,973 200,973 203,257 206,036 212,314 218,545 222,128
. ...
161,629
146 293
9,499
18630
38,831
18,294
7,473
28,832
24,734
15,336
38,100
34,596
2,602
4327
9]059
4,478
1,525
158,640
115,167
6021
3£19
41,720
37,940
1,857
4,972
10,379
4,686
1,753
7,743
6,550
3,780
40,901
37,268
2,701
4,581
10,041
4,497
1,817
7,578
6,053
3,633
45,115
41220
3;964
5,026
10,984
4,789
1,857
7,949
6,651
3,895
42,971
39,192
2,054
5,453
10,267
4,910
1,928
8,100
6,480
3,779
39,153
35560
2,651
4,453
9,322
4,609
1,569
6,877
6,079
3,593
42,286
37827
3,322
4,693
9,659
4,502
1,917
7,434
6300
4',459
39,350
35,773
1,715
4,626
9,683
4,599
2,274
6,927
5,949
3,577
40,840
37,133
1,811
4858
10J67
4,584
1,713
7,594
6406
3J07
42,364
38611
2J70
4752
10^422
4,668
1,873
7,849
6277
3J53
45,387
41 470
3]977
5056
1l!057
4,819
1,868
8,001
6692
3]917
42,338
38614
2',018
5370
10',122
4,844
1,900
7,980
6380
S',724
38910
28,434
40,678
30,012
42004
30,096
43,383
29,317
41 319
30,803
39106
29,614
41,254
28,166
38,456
28,085
39,824
29^302
43,540
31 ^250
43,653
29i500
40,746
30iS61
39,823
36204
1,733
4679
9£06
4,661
2,292
7,012
5909
3i504
41,986
37553
3,307
4652
9i587
4,469
1,903
7,381
6,254
4,433
38,081
28,768
40,971
27,953
3,869
827
882
992
1,168
1,159
1,169
1,290
851
889
981
1,148
1,192
1,175
T.272
7,003
1,376
1,679
1,766
2,182
1,864
2,009
2,323
1,418
1,694
1,748
2,143
1,931
2,023
2,290
Latin America and Other Western Hemisphere
Brazil
Mexico
Venezuela
Other
124,933
8,773
75108
13,171
27,881
28,117
2,060
17,108
2,672
6,277
31,405
2,176
18791
3!269
7,169
32,039
2,320
19195
3^452
7,072
33,372
2,217
20,014
3,778
7,363
32,831
2,327
19,891
3,297
7,316
34,925
2,507
21,488
3,280
7,650
36,046
2,517
22,102
3,436
7,991
28,833
2,119
17,585
2,698
6,431
31,643
2,191
18,943
3,288
7,221
31,724
2,290
18,998
3,438
6,998
32,733
2,173
19582
S',747
7,231
33,952
2,419
20608
3!347
7,578
35,128
2,524
21 618
7,695
35,572
2,482
21*796
3^412
7,882
57
58
59
60
61
62
63
64
65
66
Other countries
in Asia and Africa810
Asia810
Members of OPEC
China ....
Hong Kong
Korea, Republic of
Singapore
Taiwan
..
Africa810 ..
Members of OPEC
231,998
212,788
21,011
51,511
9,854
22,611
20,338
29,902
18,940
10,211
52,460
48,432
4,291
10,061
2,270
6,198
5,059
6,868
3,980
2,086
54,574
49,620
4,973
11,313
2,237
5,508
5,022
7,246
4,889
2,727
63,554
58,262
5,709
15,792
2,741
5,299
5,194
7,945
5,187
2,997
61,410
56,474
6,038
14,345
2,606
5,606
5,063
7,843
4,884
2,401
56,021
50,880
4,754
12,520
2,131
5,086
4,566
7,256
5,078
2,794
61,312
56,143
5,453
14,500
2,242
5,802
5,129
7,928
5,088
2,902
70,537
65,465
5,818
18,432
3,080
6,243
5,385
8,659
4,985
2,814
53,998
49,915
4,373
10,428
2,346
6,377
5,200
7,082
4,033
2,098
55,041
50,060
5,010
11,455
2,259
5,537
5,058
7,306
4,916
2,741
62,913
57,653
5,671
15,660
2,712
5,223
5,130
7,853
5,155
2,984
60,046
55,160
5,957
13,968
2,537
5,474
4,950
7,661
4,836
2,388
58,085
52,840
4,890
13,044
2,218
5,279
4,735
7,543
5,179
2,828
61,679
56,488
5,478
14,591
2,255
5,839
5,162
7,978
5,110
2,910
69,549
64,528
5,756
18,162
3,034
6,150
5,309
8,534
4,935
2,791
67
International organizations and unallocated
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3^91
Memoranda:
68
69
70
Industn'al countries88
Members of OPEC
Other countries8
443,093 106,617 112,830 109,135 114,511 115,035 120,110 117,473 109,589 113,640 107,836 112,028 119,254 120,848 115,791
44,393
9,049 10,969 12,158 12,217 10,845 11,635 12,068
9,169 11,039 12,093 12,092 11,065 11,679 11,959
315,753 72,063 75,651 84,225 83,814 78,996 85,485 95,748 74,215 76,294 83,328 81,916 81,995 86,018 94,378
BALANCE (EXCESS OF EXPORTS +)
71
-191,170 -36,287 -45,252 -59,848 -49,783 -42,064 -44,682 -59,598 -42,925 -47,562 -52,493 -48,190 -49,787 -47,134 -51,549
Total, all countries
72
73
74
75
76
77
78
79
80
81
Western Europe
European Union
Belgium and Luxembourg
France .
Germany9
Italy .....'
Netherlands
United Kingdom ,
Other ....
Western Europe, excluding EU
-24,435
-21,507
3,186
-4,176
-15,861
-9,673
9,028
1,414
-5,425
-2,928
82
83
84
85
Canada3
Japan
Australia, New Zealand, and South Africa 10
Australia
-24,031 -4,877 -6,593 -6,557 -6,004 -5,181 -4,341 -4,524 -6,079 -7,130 -5,133 -5,689 -6,619 -4,915 -3,019
-49,213 -11,602 -11,477 -12,303 -13,831 -13,648 -12,760 -15,101 -12,704 -11,692 -11,317 -13,500 -14,914 -12,967 -14,096
86
Eastern Europe
87
88
89
90
91
-3,170
-2,933
546
-5,911
-5,052
-585
-1,092
-3,782
-2,157
2,014
1,644
-1,498
-3,206
-2,072
2,604
579
-799
-237
-181
-859
-9,255 -6,099
-8,314 -5,208
1,323
1,498
-1,504
-995
-4,511 -4,362
-2,881 -2,563
1,231
3,179
-58
-751
-1,914 -1,214
-941
-891
-2,256
-2,179
728
-5,249
-6,073
-739
-1,041
-4,716
-2,457
2,961
1,378
-1,607
824
^,905
-2,268
2,938
1,976
-909
-77
-591
-7,567
-6,743
1,369
-1,713
-4,468
-2,903
2,825
49
-1,902
-4,485
-4,103
482
-6,433
-5,533
-724
-3,507
-2,218
2,514
366
-1,016
-824
-382
-5,781
-4,913
1,492
-1,161
-3,898
-2,202
2,003
1,512
-1,566
-7,736
-6,958
1,433
-1,357
-4,215
-2,755
1,379
240
-1,683
-900
-778
-221
-3,811
-3,571
665
-5,854
-6,626
-934
-904
-4,241
-2,498
3,132
-1,160
-4,289
-2,446
2,865
1,698
-1,160
-868
-240
-1,110
-4,844
-2,506
2,913
1,239
-1,683
772
-704
-635
-5,953
-5,293
1,495
-1,536
-4,171
-2,779
2,983
382
-1,667
-660
7,836
2,158
2,028
l',903
356
557
-45
22
Latin America and Other Western Hemisphere
Brazil
Mexico
Venezuela
Other
-16,069
3,574
-18,373
-8,506
7,236
-3,431
497
-4,143
-1,609
1,824
-4,945
742
-5,144
-2,053
1,510
-4,321
1,053
-4,852
-2,271
1,749
92
93
94
95
96
97
98
99
100
101
Other countries in Asia and Africa810
Asia810 ...
Members of OPEC
China ...
Hong Kong
Korea, Republic of
Singapore
Taiwan .
Africa810 .
Members of OPEC
-85,616 -15,924 -18,309 -29,337 -22,046 -19,275 -21,859 -32,020 -17,901 -18,911 -27,349 -21,455 -21,501 -22,467 -29,757
-77,408 -14,645 -16,072 -26,810 -19,881 -16,500 -19,336 -30,225 -16,505 -16,658 -24,997 -19,248 -18,598 -19,918 -28,161
-7,155 -1,037 -1,466 -2,437 -2,215 -1,479 -1,500 -2,142 -1,171 -1,526 -2,250 -2,208 -1,640 -1,551 -1,956
-39,573 -6,911 -8,827 -13,278 -10,557 -9,663 -11,579 -15,441 -7,316 -8,969 -13,036 -10,252 -10,200 -11,686 -15,081
4,019
887
1,338
559
1,235
1,355
1,301
1,691
700
780
705
1,254
1,233
1,658
869
3,042
105
846
965
1,126
1,251
1,180
-429
-166
808
1,279
1,121
1,017
1,103
-135
-4,085
-749
-918
-1,285 -1,133
-922
-994
-230
-839
-696
-1,101 -1,068
-387
-916
-503
-12,362 -2,509 -2,673 -3,950 -3,230 -2,714 -3,382 -4,093 -2,778 -2,747 -3,691 -3,146 -3,028 -3,450 -3,803
-8,304 -1,301 -2,281 -2,502 -2,220 -2,797 -2,538 -1,828 -1,414 -2,308 -2,341 -2,241 -2,920 -2,564 -1,635
-8,407 -1,690 -2,125 -2,616 -1,976 -2,484 -2,513 -2,292 -1,713 -2,137 -2,584 -1,973 -2,522 -2,520 -2,245
102
International organizations and unallocated
•
•
...
2
2
0
0
1,747
-178
-<3,372
1,282
-4,234
-2,573
2,153
0
1,664
1,926
-53
101
-3,315
1,050
-4,226
-1,999
1,860
-2,500
1,322
-4,508
-1,627
2,313
0
0
1,790
-574
-1,602
1,571
-3,531
-1,596
1,954
0
2,122
1,990
1,999
478
-48
125
-4,358
421
-4,724
-1,646
1,591
-5,338
698
-5,369
-2,078
1,411
-3,082
1,186
-4,185
-2,218
2,135
2
0
I
1,725
1,635
-199
-149
-3,291
1,269
-4,095
-2,564
2,099
-4,428
960
-4,912
-2,053
1,577
0
0
1,893
86
-2,910
1,268
^,745
-1,647
2,214
0
1,888
-468
-144
1,706
-2,703
-1,521
2,374
0
Memoranda:
103
104
105
Industrial countries8
Members of OPEC8
Other countries 8
See footnotes on page 27.
« ...
-88,792 -17,134 -21,786 -25,913 -23,959 -19,183 -20,274 -25,239 -20,823 -23,115 -21,835 -23,019 -23,504 -21,709 -20,967
-24,068 -4,336 -5,644 -7,324 -6,764 -6,962 -5,640 -6,030 -4,530 -5,741 -7,052 -6,745 -6,215 -5,718 -5,722
-78,312 -14,819 -17,822 -26,611 -19,060 -16,919 -18,768 -28,329 -17,574 -18,706 -23,606 -18,426 -20,068 -19,707 -24,860
SURVEY OF CURRENT BUSINESS
l8 • January 1998
Table 2.—U.S. Trade in Goods—Continued
[Millions of dollars]
Not seasonally adjusted
1996
Line
I
C
Trade in goods, by principal end-use category, adjusted to balance of payments
basis, excluding military:
1
Exports of goods, balance of payments basis, excluding military (A-8)
2
3
Agricultural products
Nonagricultural products
4
Foods feeds and beverages
...
5
6
7
8
9
10
11
12
Agricultural
Grains and preparations
Wheat
Com
Soybeans
Meat products and poultry
Vegetables fruits nuts and preparations
Other agricultural foods, feeds, and beverages
13
14
Nonagricultural (fish, distilled beverages, etc.)
Fish and shellfish
15
612,069
Industrial supplies and materials
16
17
18
19
20
Agricultural
Raw cotton ....
Tobacco unmanufactured
Hides and skins including furskins
Other agricultural industrial supplies
21
22
23
24
25
Nonagricultural
Energy products
Fuels and lubricants ' l
Coal and related fuels
Petroleum and products
.
.
. . .
Seasonally adjusted
1997
1996
II
51,442
I
IV
III
1997
1996
IK
I
III'
II
III
llr
I
IV
III'
62,812
72,548 165,691
50,048
53,411 150,764 157,846 162,527 171,411 170,579
16,653
44,106
15,196
47,616
13,463
59,085
13,184
52,507
15,863
34,185
15,080
38,331
15,093
35,671
15,452
42,394
54,198
45,670 160,759
61,488
550,581
16,827
34,615
14,341
39,857
13,667
32,003
55,533
14,463
13,063
13,090
14,917
13,199
11,574
11,867
14,032
13,762
13,785
13,954
12,779
12,143
12,409
51,203
21,230
6,413
8,874
7,364
7,184
8,080
7,345
13,442
5,744
1,712
2,428
2,192
1,809
1,902
1,795
12,103
5,219
1,471
2,462
1,199
1,871
2,029
1,785
11,822
5,293
2,108
1,776
1,158
1,683
1,945
1,743
13,836
4,974
1,122
2,208
2,815
1,821
2,204
2,022
12,139
4,400
846
1,770
2,178
1,645
1,956
1,960
10,627
3,627
868
1,369
1,162
1,799
2,056
1,983
10,797
3,861
1,429
860
1,898
2,039
2,139
13,001
5,624
1,712
2,428
1,675
1,877
1,978
1,847
12,674
5,270
1,471
2,462
1,730
1,852
2,023
1,799
12,746
5,408
2,108
1,776
1,821
1,700
2,090
1,727
12,782
4,928
1,122
2,208
2,138
1,755
1,989
1,972
11,703
4,246
846
1,770
1,653
1,723
2,052
2,029
11,081
3,687
868
1,369
1,599
1,780
2,015
2,000
11,495
3,969
1,429
1,255
1,339
1,907
2,171
2,109
4,330
3,117
1,021
760
960
678
1,268
964
1,081
715
1,060
780
947
642
1,070
759
1,031
770
1,088
805
1,039
734
1,172
808
1,076
796
1,062
757
914
603
147,973
37,101
38,131
35,636
37,105
38,656
41,261
39213
36,625
37,757
36,175
37,416
38,542
40,824
39,759
10,038
2,744
1,366
1,693
4,235
3,312
1,374
408
412
1,118
2,173
443
311
460
959
1,797
244
215
421
917
2,756
683
432
400
1,241
2,979
862
452
468
1,197
2,762
722
504
445
1,091
2,333
469
226
396
1,242
2,801
1,012
352
389
1,048
2,346
485
340
440
1,081
2,284
532
304
424
1,024
2,607
715
370
440
1,082
2,553
581
389
447
1,136
2,960
739
565
424
1,232
2,970
918
290
407
1,355
137,935
15,533
15,404
4,439
9,631
33,789
3,710
3,682
1,043
2,401
35,958
3,476
3,447
1,142
1,938
33,839
3,913
3,874
1,122
2,378
34,349
4,434
4,401
1,132
2,914
35,677
3,869
3,849
988
2,508
38,499
3,901
3,874
1,024
2,336
36,880
4,224
4,178
1,088
2,658
33,824
3,764
3,737
1,100
2,400
35,411
3,465
3,435
1,131
1,937
33,891
3,888
3,850
1,094
2,382
34,809
4,416
4,382
1,114
2,912
35,989
3,923
3,903
1,043
2,507
37,864
3,895
3,868
1,017
2,336
36,789
4,208
4,163
1,072
2,659
1255
14,322 14,108 14,535
48,205 157,303 156,044
26
27
28
29
30
Paper and paper base stocks
Textile supplies and related materials
Chemicals excluding medicinals
Building materials except metals
Other nonmetals
12,482
9,555
42,472
9,261
15,262
3,240
2,252
10,654
2,185
3,760
3,063
2,432
10,843
2,315
3,782
3,054
2,394
10,344
2,307
3,776
3,125
2,477
10,631
2,454
3,944
3,119
2,526
11,347
2,380
4,067
3,164
2,732
12,217
2,505
4,261
3243
2,709
11,832
2,363
4,074
3,233
2,268
10,556
2,224
3,701
3,038
2,359
10,628
2,246
3,716
3,022
2,449
10,478
2,312
3,793
3,189
2,479
10,810
2,479
4,052
3,158
2,573
11,358
2,443
4,027
3,133
2,643
11,956
2,437
4,180
3,179
2,753
11,907
2,347
4,099
31
32
33
34
35
36
37
38
Metals and nonmetallic products
Steelmaking materials
Iron and steel products
Nonferrous metals
Nonmonetary gold
Other precious metals
Other nonferrous metals
Other metals and nonmetallic products
33,370
2,116
5,448
15,480
6,940
1,448
7,092
10,326
7,988
521
1,448
3,589
1,577
278
1,734
2,430
10,047
567
1,399
5,460
3,128
437
1,895
2,621
8,051
567
1,322
3,532
1,307
441
1,784
2,630
7,284
461
1,279
2,899
928
292
1,679
2,645
8,369
495
1,434
3,716
1,684
272
1,760
2,724
9,719
590
1,472
4,754
2,322
569
1,863
2,903
8,435
643
1,509
3,347
860
469
2,018
2,936
8,078
554
1,449
3,639
1,577
279
1,783
2,436
9,959
535
1,400
5,488
3,128
438
1,922
2,536
7,949
539
1,325
3,433
1,307
439
1,687
2,652
7,384
488
1,274
2,920
928
292
1,700
2,702
8,507
525
1,443
3,773
1,684
271
1,818
2,766
9,620
559
1,472
4,789
2,322
573
1,894
2,800
8,296
614
1,501
3236
860
471
1,905
2,945
253,141
62,383
63,029
59,831
67,898
68,869
74,131
72,848
61,974
63,153
61,694
66,320
68,983
74212
74,613
220,277
24,113
196,164
12,693
10,287
5,801
9,805
40,096
55,176
5,877
49,299
2,986
2,541
1,345
2,457
9,937
54,127
5,855
48272
3,238
2,487
1,549
2,428
10,133
52,818
5,961
46,857
3,120
2,462
1,448
2,389
9,746
58,156
6,420
51,736
3,349
2,797
1,459
2,531
10,280
58,484
6,508
51,976
3,292
3,118
1,403
2,680
10,552
62,234
7,071
55,163
3,665
3270
1,587
2,936
11,472
63,393
7,067
56,326
3,789
2,957
1,725
2,917
11,581
54,763
5,857
48,906
3,005
2,540
1,341
2,404
9,986
54,254
5,805
48,449
3,203
2,488
1,548
2,399
9,871
54,573
6,039
48,534
3,131
2,551
1,499
2,475
10,038
56,687
6,412
50,275
3,354
2,708
1,413
2,527
10,201
58,605
6,558
52,047
3,318
3,150
1,416
2,642
10,693
62,318
7,006
55,312
3,618
3,265
1,584
2,898
11,155
65,018
7,099
57,919
3,812
3,035
1,770
3,002
11,863
43,719
35,768
20,323
2,925
14,747
11,568
9,338
4,700
722
3,705
10,409
10,162
8,398
11,906
9,471
4,903
717
3,934
12,029
9,573
5,861
815
3,955
12,329
9,944
6,275
832
3,97
11,158
9,190
4,929
733
3,620
10,846
8,712
5,036
692
3,654
10,885
8,613
4,934
753
3,655
10,830
9,253
5,424
747
3,818
11,582
9,450
5,225
729
3,842
12,530
9,574
5,911
811
3,966
13/115
10,075
6275
855
4,117
30,79
15,66
6,58
2,87
11,366
6,833
53
8,91
4,60
6,592
2,87
53
61
8,322
4,705
577
6,696
2,951
425
9,182
5,134
451
9,907
5,708
471
11,363
6,833
531
9,058
4,606
537
16,048
16,552
16,753
17,735
18,358
18,313
9,086
1,962
1,307
939
4,878
8,777
9,686
2,295
1,420
978
4,993
9,632
9,707
2,209
1,503
998
4,997
7,466
7,976
2,139
8,049
1,859
1,135
76
8,72
2,07
1,16
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
Capital goods, except automotive
Machinery, except consumer-type
Electric generating machinery electric apparatus and parts
Nonelectric, including parts and attachments
Oil drilling, mining, and construction machinery
Industrial engines pumps and compressors
Machine tools and metalworking machinery
Measuring testing and control instruments
Other industrial, agricultural, and service industry machinery
Computers, peripherals, and parts
Semiconductors
Telecommunications eQuipment
Other office and business machines
Scientific hospital and medical equipment and parts
Civilian aircraft engines parts
Civilian aircraft, complete, all types
Other transportation eouipment
2,07
61
4,973
696
3,645
4,87
73
3,530
11,580
9,318
5,779
776
3,867
8,325
4,705
57
6,588
9,29
2,95
425
5,134
45
9,914
5,708
47
8714
65,02
16,085
17,163
14,846
16,928
18,093
19,540
16,57
15,66
57
58
59
60
61
To Canada
Passenger cars new and used
Trucks buses and special purpose vehicles
Engines and engine parts
Other parts and accessories
35,13
8,68
1,84
9,80
2,31
1,42
1,00
5,06
7,96
8,69
2,08
1,35
10,66
8,49
2,83
1,47
1,80
1,37
8,43
1,83
1,22
4,35
4,41
9,89
2,32
1,37
1,01
5,18
1,01
5,34
4,45
4,45
4,66
62
63
64
65
66
To other areas
Passenger cars new and used
Trucks, buses, and special purpose vehicles
29,88
7,36
2,15
6,88
1,89
8,23
2,39
1,22
8,19
1,96
1,12
8,87
8,07
2,08
1,16
1,49
7,23
2,55
7,20
2,12
56
67
68
69
70
71
72
73
Other parts and accessories
Consumer goods (nonfood) except automotive
Consumer nondurable goods manufactured
Medical, dental, and pharmaceutical preparations, including vitamins
Consumer durable goods manufactured
Household and kitchen appliances and other household goods
Unmanufactured consumer goods (gem stones, nursery stock)
Exports n e e
See footnotes on page 27.
7,84
5,14
3,62
18,53
9,12
3,87
2,309
14,57
1,18
96
4,69
7,404
1,602
1,17
82
83
86
92
8,84
1,97
1,28
93
2,07
1,332
83
4,543
2,45
1,32
93
4,91
3,33
3,66
3,62
3,95
4,34
4,89
4,78
3,30
3,55
3,77
3,94
4,29
4,77
8,606
1,826
1,105
703
4,972
18,81
19,72
19245
2,68
85
53
97
564
81
54
66
77
72
1,11
67
85
52
98
54
2,30
81
56
1,21
67
70
16,81
17,47
17,18
18,66
18,40
19,75
19,09
17,07
17,48
17,348
18,22
34,09
7,988
33,15
13,89
2,894
8,22
8,46
2,07
8,84
8,94
2,21
8,77
9,35
2,16
9,01
8,45
1,98
7,94
8,51
2,07
8,17
8,41
1,89
8,29
8,70
2,03
8,74
8,90
9,35
2,36
9,52
3,49
3,38
2,03
9,05
3,59
9,33
2,36
9,56
9,234
8^0
8,55
1,88
8,00
3,984
85
3,85
3,35
3,43
3,51
3,58
3,61
3,91
20,26
4,59
6,29
6,10
70,13
1,98
7,88
3,42
69
80
5,33
62
5,08
76
5,24
3,65
68
5,59
72
68
4,67
80
5,20
63
5,21
77
5,17
2,20
677
5,67
84
6,15
9,216
2,170
9,291
3,990
738
6240
SURVEY OF CURRENT BUSINESS
January 1998
Table 2.—U.S. Trade in Goods—Continued
[Millions of dollars]
Not seasonally adjusted
1996
Line
1996
I
C
74
Imports of goods, balance of payments basis, excluding military (A-16)
Petroleum and products7
Nonpetroleum products
77
Foods feeds and beverages
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
III
IV
I
II r
1997
1996
III''
I
II
III
IV
I
llr
III"
Trade in goods, by principal end-use category, adjusted to balance of payments
basis, excluding military—Continued:
75
76
78
79
80
81
82
83
84
85
86
87
II
Seasonally adjusted
1997
803,239
187,729 199,450 205,518 210,542 204,876 217,230 225,289 192,973 200,973 203,257 206,036 212,314 218,545 222,128
72,744 14,533 18,403 19,130 20,678 18,891 17,695
17,662 14,619 18,514 19,052 20,559 19,170 17,749 17,537
730,495 173,196 181,047 186,388 189,864 185,985 199,535 207,627 178,354 182,459 184,205 185,477 193,144 200,796 204,591
35,711
8,498
8,987
8,791
9,435
9,375
9,978
9,938
8,605
8,980
8,953
9,173
9,507
9,987
10,126
26,484
4,118
2,491
3,769
7,390
2,793
8,413
9,227
6,663
2,045
6,469
1,172
712
944
1,993
523
1,837
2,029
1,462
441
6,839
968
599
927
2,183
718
2,042
2,148
1,553
465
6,346
1,068
561
970
1,460
745
2,103
2,445
1,737
574
6,830
910
619
928
1,754
807
2,431
2,605
1,911
565
7,211
1,244
815
979
2,296
622
2,070
2,164
1,577
464
7,596
1,382
1,040
1,113
2,018
835
2,248
2,382
1,729
518
7,069
1,368
928
1,022
1,472
859
2,347
2,869
2,148
587
6,352
1,172
712
944
1,628
645
1,962
2,253
1,607
519
6,716
968
599
927
2,032
704
2,084
2,264
1,630
504
6,630
1,068
561
970
1,817
723
2,052
2,323
1,661
529
6,786
910
619
928
1,913
721
2,315
2,387
1,765
493
7,098
1,244
815
980
1,898
766
2,209
2,409
1,742
545
7,480
1,382
1,040
1,113
1,888
814
2,284
2,507
1,808
564
7,388
1,368
928
1,022
1,858
840
2,300
2,738
2,061
543
209,497
47,444
54,308
53,294
54,451
54,384
55,677
53,687
47,533
53,933
53,377
54,654
54,925
55,043
53,583
6,461
203,036
80,278
79,311
1,599
45,845
16,357
16,148
1,612
52,696
20,026
19,805
1,726
51,568
20,925
20,637
1,524
52,927
22,970
22,721
1,614
52,770
21,130
20,910
1,686
53,991
19,522
19,285
1,517
52,170
19,621
19,315
1,571
45,962
16,318
16,108
1,597
52,336
20,179
19,958
1,756
51,621
21,002
20,714
1,537
53,117
22,779
22,531
1,582
53,343
21,223
21,003
1,660
53,383
19,612
19,375
1,556
52,027
19,676
19,369
Paper and paper base stocks
Textile supplies and related materials
Chemicals excluding medicinals
Building materials except metals
Other nonmetals
10,871
8,843
26,897
15,035
13,353
3,071
2,019
6,962
3,140
3,147
2,588
2,228
6,872
3,723
3,361
2,602
2,278
6,453
4,221
3,464
2,610
2,318
6,610
3,951
3,381
2,548
2,375
7,439
3,731
3,298
2,624
2,609
7,401
4,458
3,606
2,711
2,595
7,283
4,472
3,644
3,106
2,069
6,606
3,296
3,262
2,595
2,158
6,721
3,587
3,313
2,597
2,246
6,702
4,091
3,381
2,573
2,370
6,868
4,061
3,397
2,594
2,468
7,161
3,984
3,457
2,623
2,520
7,194
4,270
3,536
2,696
2,545
7,520
4,282
3,548
Metals and nonmetallic products
Steelmaking materials
Iron and steel products
Nonferrous metals
Nonmonetary gold
Other precious metals
Bauxite and aluminum
Other nonferrous metals
Other metallic and nonmetallic products
47,759
3,044
17,221
21,679
7,747
2,494
5,071
6,367
5,815
11,149
731
3,887
5,133
1,690
589
1,293
1,561
1,398
13,898
840
4,206
7,393
3,659
612
1,395
1,727
1,459
11,625
736
4,578
4,818
1,539
576
1,182
1,521
1,493
11,087
737
4,550
4,335
859
717
1,201
1,558
1,465
12,249
605
4,391
5,627
2,170
488
1,318
1,651
1,626
13,771
750
4,702
6,622
2,739
554
1,571
1,758
1,697
11,844
784
4,593
4,765
741
715
1,402
1,907
1,702
11,305
823
3,931
5,142
1,690
591
1,296
1,565
1,409
13,783
799
4,160
7,399
3,659
613
1,398
1,729
1,425
11,602
703
4,573
4,826
1,539
577
1,185
1,525
1,500
11,069
719
4,557
4,312
859
713
1,192
1,548
1,481
12,456
689
4,447
5,668
2,170
493
1,336
1,669
1,652
13,628
713
4,642
6,620
2,739
554
1,570
1,757
1,653
11,760
749
4,579
4,727
741
707
1,388
1,891
1,705
229,049
56,479
56,105
57,040
59,425
57,463
62,564
65,960
57,776
56,572
56,846
57,855
59,326
62,923
65,542
214,433
24,749
189,684
5,685
6,266
7,503
5,960
37,671
53,181
5,820
47,361
1,394
1,561
1,803
1,424
9,371
52,420
6,006
46,414
1,498
1,595
1,901
1,445
9,592
53,305
6,371
46,934
1,371
1,572
1,885
1,530
9,248
55,527
6,552
48,975
1,422
1,538
1,914
1,561
9,460
53,595
6,331
47,264
1,547
1,547
2,055
1,508
9,502
58,191
6,894
51,297
1,854
1,702
2,104
1,623
10,642
60,744
7,171
53,573
1,582
1,584
1,915
1,695
10,300
54,470
6,045
48,425
1,372
1,587
1,810
1,460
9,390
52,878
5,982
46,896
1,404
1,562
1,813
1,450
9,364
53,143
6,294
46,849
1,422
1,570
1,938
1,514
9,405
53,942
6,428
47,514
1,487
1,547
1,942
1,536
9,512
55,469
6,649
48,820
1,532
1,593
2,098
1,564
9,647
58,549
6,832
51,717
1,746
1,658
2,006
1,623
10,356
60,316
7,058
53,258
1,646
1,569
1,955
1,670
10,381
61,515
36,707
14,375
6,794
7,208
14,598
10,538
3,328
1,689
1,655
14,558
9,136
3,349
1,593
1,747
15,705
8,499
3,572
1,687
1,865
16,654
8,534
4,126
1,825
1,941
15,625
8,521
3,495
1,710
1,754
16,942
9,030
3,633
1,849
1,918
18,738
9,723
4,003
1,851
2,182
15,205
10,606
3,516
1,713
1,766
15,189
9,138
3,536
1,655
1,785
15,423
8,573
3,524
1,666
1,814
15,698
8,390
3,799
1,760
1,843
16,363
8,674
3,714
1,744
1,891
17,632
9,013
3,812
1,920
1,951
18,394
9,743
3,953
1,836
2,111
14,616
12,671
3,920
3,298
2,719
896
3,685
3,182
1,010
3,735
3,289
965
3,898
3,481
1,049
3,868
3,423
745
4,373
3,882
1,059
5,216
4,698
1,437
3,306
2,727
896
3,694
3,191
1,010
3,703
3,258
965
3,913
3,495
1,049
3,857
3,412
745
4,374
3,882
1,059
5,226
4,708
1,437
Agricultural
Coffee cocoa and sugar
Green coffee
Meat products and poultry
Vegetables fruits nuts and preparations
Wine and related products
Other agricultural foods feeds and beverages
Nonagricultural (fish, distilled beverages, etc)
Fish and shellfish
Whiskev and other alcoholic beveraaes
Industrial supplies and materials
Agricultural
Nonagricultural products
Energy products
Fuels and lubricants7n
..
.
Capital goods except automotive
Machinery, except consumer-type
Electric generating machinery electric apparatus and parts
Nonelectric, including parts and attachments
Oil drilling mining and construction machinery
Industrial engines pumps and compressors
Machine tools and metalworking machinery
Measuring, testing, and control instruments
Other industrial, agricultural, and service industry machinery
Computers peripherals and parts
Semiconductors
Telecommunications equipment
Other office and business machines
Scientific, hospital, and medical equipment and parts
Transportation equipment except automotive
Civilian aircraft engines parts
Civilian aircraft, complete, all types
Automotive vehicles, engines, and parts
128,938
31,025
33,406
30,920
33,587
35,156
35,770
33,044
31,008
32,274
33,420
32,236
35,561
34,586
35,874
125
126
127
128
129
From Canada
Passenger cars, new and used
Trucks buses and special purpose vehicles
Engines and engine parts
Other parts and accessories
45,915
24,139
8,835
2,540
10,401
11,091
5,840
2,114
654
2,483
12,845
6,929
2,437
679
2,800
11,029
5,830
2,097
581
2,521
10,950
5,540
2,187
626
2,597
12,754
6,848
2,454
694
2,758
13,265
7,009
2,682
765
2,809
11,472
5,694
2,507
674
2,597
11,211
6,129
2,087
598
2,397
11,870
6,303
2,305
640
2,622
12,215
6,400
2,360
660
2,795
10,619
5,307
2,083
642
2,587
13,161
7,309
2,478
648
2,726
12,287
6,401
2,539
722
2,625
12,704
6,310
2,811
748
2,835
130
131
132
133
134
From other areas
Passenger cars new and used
Trucks buses and special purpose vehicles
Engines and engine parts
Other parts and accessories
83,023
41,725
4,840
9,210
27,248
19,934
9,807
1,054
2,327
6,746
20,561
9,988
1,190
2,423
6,960
19,891
9,765
1,295
2,153
6,678
22,637
12,165
1,301
2,307
6,864
22,402
11,384
1,430
2,365
7,223
22,505
11,735
1,302
2,214
7,254
21,572
11,347
1,418
2,014
6,793
19,797
9,831
1,048
2,286
6,632
20,404
10,096
1,184
2,360
6,764
21,205
10,688
1,332
2,245
6,940
21,617
11,110
1,276
2,319
6,912
22,400
11,433
1,437
2,345
7,185
22,299
11,842
1,297
2,143
7,017
23,170
12,571
1,464
2,092
7,043
171,007
80,780
39,604
9,772
81,502
31,076
15,424
10,010
8,385
8,725
37,367
18,253
8,729
2,274
16,899
6,673
2,933
1,950
1,656
2,215
39,238
18,470
8,621
2,214
18,791
7,351
3,236
2,220
1,936
1,977
48,321
23,081
12,025
2,734
22,927
8,798
4,531
2,976
2,473
2,313
46,081
20,976
10,229
2,550
22,885
8,254
4,724
2,864
2,320
2,220
41,077
20,375
9,951
2,559
18,308
7,432
3,213
2,054
1,616
2,394
45,133
21,910
10,485
2,644
21,007
8,433
4,036
2,394
1,944
2,216
54,575
27,169
14,534
2,919
24,685
9,582
5,177
3,119
2,460
2,721
40,944
19,298
9,281
2,376
19,519
7,331
3,700
2,392
2,043
2,127
41,905
19,694
9,640
2,311
20,078
7,516
3,779
2,494
2,119
2,133
43,308
20,264
9,982
2,415
20,832
8,020
3,915
2,629
2,149
2,212
44,850
21,524
10,701
2,670
21,073
8,209
4,030
2,495
2,074
2,253
45,300
21,743
10,700
2,712
21,261
8,265
4,059
2,528
2,015
2,296
48,010
23,270
11,653
2,757
22,358
8,585
4,677
2,654
2,110
2,382
48,720
23,809
12,016
2,571
22,337
8,670
4,466
2,743
2,130
2,574
29,037
18,552
6,916
4,353
7,406
4,685
7,152
4,600
7,563
4,914
7,421
4,613
8,108
5,139
8,085
5,227
7,107
4,496
7,309
4,611
7,353
4,787
7,268
4,658
7,695
4,824
7,996
5,054
8,283
5,402
10,485
2,563
2,721
2,552
2,649
2,808
2,969
2,858
2,611
2,698
2,566
2,610
2,871
2,942
2,881
124
135
136
137
138
139
140
141
142
143
144
Consumer goods (nonfood) except automotive
Consumer nondurable goods, manufactured
Textile apparel and household goods, except rugs
Footwear of leather, rubber, and other materials
Consumer durable goods manufactured
Household and kitchen appliances and other household goods
Toys, shooting, and sporting goods, including bicycles
Television and video receivers
Radio and stereo equipment, including records, tapes, and disks
Unmanufactured consumer goods (gemstones, nursery stock)
145
146
147
Imports, n.e.c., and U.S. goods returned
U S goods returned
Other products, including balance of payments adjustments not included above
(minimum value shipments and miscellaneous imports)
See footnotes on page 27.
2O • January 1998
SURVEY OF CURRENT BUSINESS
Table 3.—Private Service Transactions
[Millions of dollars]
Not seasonally adjusted
1996
Line
1996
I
Exports of private services
II
Seasonally adjusted
1997
III
IV
I
II '
1996
\\\P
I
II
1997
III
IV
I
IK
III'
221,224
52,029
52,974
59,782
56,440
56,448
57,734
65,146
53,676
54,588
55,540
57,427
58,332
59,410
60,481
Travel (table 1, line 5)
Passenger fares (table 1, line 6)
Other transportation (table 1 line 7)
Freight
'
Port services
Other
69,908
20,557
27,216
11,161
14,691
1,364
14,804
4,768
6,436
2,629
3,467
340
17,165
4,769
6,788
2,844
3,603
342
21,041
6,104
6,763
2,736
3,683
343
16,898
4,916
7,229
2,952
3,938
339
16,421
4,976
6,873
2,885
3,618
370
18,428
5,302
7,029
2,942
3,711
377
22,696
6,513
7,193
2,900
3,919
374
16,712
5,087
6,555
2,649
3,565
340
17,356
4,952
6,805
2,823
3,639
342
17,659
5,237
6,716
2,747
3,625
343
18,183
5,282
7,142
2,941
3,861
339
18,556
5,319
6,999
2,909
3,720
370
18,605
5,511
7,043
2,919
3,747
377
18,977
5,571
7,140
2,909
3,857
374
8
9
10
11
12
13
14
Royalties and license fees (table 1, line 8)
Affiliated
U S parents' receipts
U.S. affiliates' receipts
Unaffiliated
.-.
Industrial
processes l
Other2
29,974
23,760
21,916
1,844
6,214
3,979
2,235
7,121
5,616
5,232
384
1,505
956
549
7,170
5,639
5,322
317
1,531
978
554
7,410
5,845
5,456
389
1,566
1,006
560
8,273
6,661
5,907
754
1,612
1,040
573
7,389
5,722
5,450
272
1,666
1,080
587
7,445
5,738
5,345
393
1,707
1,109
598
7,527
5,792
5,335
457
1,735
1,129
607
7,432
5,927
5,531
396
1,505
956
549
7,345
5,814
5,436
378
1,531
978
554
7,495
5,929
5,505
424
1,566
1,006
560
7,703
6,091
5,445
646
1,612
1,040
573
7,699
6,033
5,761
272
1,666
1,080
587
7,622
5,915
5,460
455
1,707
1,109
598
7,604
5,869
5,383
486
1,735
1,129
607
15
16
17
18
19
20
21
22
23
24
25
26
27
Other private services (table 1, line 9)
Affiliated services
U.S. parents' receipts
U S affiliates' receipts
Unaffiliated services
Education
Financial services ..
73,569
22,810
13,763
9,047
50,759
7,807
8,034
2,121
6,179
4,058
3,405
19,247
10,145
18,900
5,474
3,400
2,074
13,426
3,147
1,847
450
1,480
1,030
863
4,681
2,438
17,082
5,477
3,389
2,088
11,605
999
1,938
513
1,524
1,011
854
4,734
2,568
18,464
5,674
3,358
2,316
12,790
2,071
1,925
561
1,567
1,006
838
4,847
2,547
19,124
6,186
3,617
2,569
12,938
1,589
2,325
597
1,609
1,012
850
4,985
2,592
20,789
5,940
3,521
2,419
14,849
3,266
2,259
620
1,650
1,030
845
5,287
2,573
19,530
6,320
3,756
2,564
13,210
1,032
2,492
637
1,681
1,044
895
5,543
2,611
21,217
6,555
3,781
2,774
14,662
2,155
2,561
648
1,702
1,054
913
5,640
2,745
17,890
5,623
3,494
2,129
12,267
1,916
1,847
450
1,480
1,030
863
4,681
2,510
18,130
5,571
3,429
2,142
12,559
1,938
1,938
513
1,524
1,011
854
4,734
2,583
18,433
5,777
3,410
2,367
12,656
1,998
1,925
561
1,567
1,006
838
4,847
2,486
19,117
5,840
3,431
2,409
13,277
1,955
2,325
597
1,609
1,012
850
4,985
2,565
19,759
6,103
3,622
2,481
13,656
1,992
2,259
620
1,650
1,030
845
5,287
2,654
20,629
6,426
3,802
2,624
14,203
2,009
2,492
637
1,681
1,044
895
5,543
2,627
21,189
6,670
3,839
2,831
14,519
2,080
2,561
648
1,702
1,054
913
5,640
2,677
143,086
32,572
36,725
38,943
34,846
34,807
39,715
42,364
35,406
35,549
35,873
36,257
37,800
38,481
39,110
48,739
15,776
28,453
16,879
10,792
783
10,492
3,545
6,648
3,970
2,485
193
13,236
4,188
7,222
4,386
2,643
193
14,321
4,406
7,380
4,326
2,857
198
10,690
3,637
7,203
4,197
2,807
199
10,935
3,947
7,191
4,257
2,720
214
14,205
4,445
7,514
4,608
2,707
200
15,664
4,789
7,686
4,587
2,901
199
12,484
3,860
6,816
4,025
2,598
193
12,099
3,943
7,253
4,414
2,647
193
11,915
3,920
7,218
4,312
2,709
198
12,241
4,053
7,166
4,130
2,838
199
13,018
4,283
7,378
4,318
2,845
214
13,003
4,201
7,542
4,636
2,706
200
13,101
4,281
7,518
4,570
2,749
199
7,322
5,301
554
4,748
2,021
1,126
895
1,697
1,331
117
1,214
366
267
99
1,606
1,226
137
1,089
380
279
101
2,154
1,274
136
1,138
880
288
592
1,865
1,471
164
1,307
394
292
103
1,772
1,377
155
1,222
396
291
106
1,758
1,373
172
1,201
385
290
95
1,963
1,549
157
1,392
414
289
125
1,724
1,358
117
1,241
366
267
99
1,684
1,304
137
1,167
380
279
101
2,144
1,264
136
1,128
880
288
592
1,770
1,376
164
1,212
394
292
103
1,799
1,403
155
1,248
396
291
106
1,847
1,462
172
1,290
385
290
95
1,951
1,537
157
1,380
414
289
125
42,796
16,026
7,505
8,521
26,770
1,041
3,184
4,387
15,473
11,086
8,385
5,253
4,520
10,190
3,677
1,714
1,963
6,513
213
774
1,188
3,816
2,629
2,127
1,234
978
10,473
3,905
1,783
2,122
6,568
256
781
1,089
3,833
2,745
2,103
1,278
1,062
10,682
3,968
1,879
2,089
6,714
315
769
1,047
3,877
2,830
2,066
1,335
1,181
11,451
4,476
2,129
2,347
6,975
259
859
1,064
3,947
2,884
2,089
1,406
1,299
10,962
4,013
1,764
2,249
6,949
231
888
1,139
4,046
2,907
2,076
1,540
1,074
11,793
4,328
2,130
2,198
7,465
278
1,106
1,195
4,119
2,924
2,137
1,612
1,138
12,262
4,450
2,148
2,302
7,812
342
1,147
1,232
4,168
2,936
2,157
1,648
1,286
10,522
3,877
1,914
1,963
6,645
253
774
1,188
3,816
2,629
2,127
1,234
1,070
10,570
3,945
1,788
2,157
6,625
256
781
1,089
3,833
2,745
2,103
1,278
1.119
10,676
4,073
1,935
2,138
6,603
262
769
1,047
3,877
2,830
2,066
1,335
1,122
11,027
4,130
1,867
2,263
6,897
269
859
1,064
3,947
2,884
2,089
1,406
1,210
11,321
4,222
1,973
2,249
7,099
275
888
1,139
4,046
2,907
2,076
1,540
1,180
11,888
4,364
2,139
2,225
7,524
278
1,106
1,195
4,119
2,924
2,137
1,612
1,196
12,259
4,573
2,214
2,359
7,686
285
1,147
1,232
4,168
2,936
2,157
1,648
1,217
-191,170
78,138
-113,032
-36,287
19,457
-16,830
-45,252
16,249
-29,003
-59,848
20,839
-39,009
-49,783
21,594
-28,189
-42,064
21,641
-20,423
-44,682
18,019
-26,663
-59,598
22,782
-36,816
-42,925
18,270
-24,655
-47,562
19,039
-28,523
-52,493
19,667
-32,826
-48,190
21,170
-27,020
-49,787
20,532
-29,255
-47,134
20,929
-26,205
-51,549
21,371
-30,178
1
2
3
4
5
6
7
28
Premiums received
Losses paid
Telecommunications
.
Business, professional, and
technical services
Other unaffiliated services3
Imports of private services
29
30
31
32
33
34
Travel (table 1, line 19)
Passenger fares (table 1, line 20)
Other transportation (table 1, line 21)
Freight
Port services
Other
35
36
37
38
39
40
41
Royalties and license fees (table 1 line 22)
Affiliated
U.S. parents' payments
U S affiliates' payments
Unaffiliated
Industrial processes *
Other2
42
43
44
45
46
47
48
49
50
51
52
53
54
Other private services (table 1 line 23)
Affiliated services ...'.
U.S. parents' payments
U.S. affiliates' payments
Unaffiliated services
Education
Financial services
Insurance, net
Premiums paid
Losses recovered
Telecommunications
Business, professional, and
technical services
Other unaffiliated services 3
55
56
57
Memoranda:
Balance on goods (table 1 line 64)
Balance on private services (line 1 minus line 28)
Balance on goods and private services (lines 55 and 56)
See footnotes on page 27.
SURVEY OF CURRENT BUSINESS
January 1998 • 21
Table 4.—Selected U.S. Government Transactions
[Millions of dollars]
Not seasonally adjusted
Line
1996
1996
I
A1
II
1997
III
IV
I
II'
III''
19,758
5,544
3,652
3,735
6,828
3,240
3,871
3,643
14,933
5,461
9,472
4,321
1,739
2,582
2,423
527
1,896
2,690
812
1,878
5,499
2,383
3,116
2,109
534
1,575
2,245
423
1,822
2,252
424
1,828
Credits and other long-term assets (table 1 , line 40, with sign reversed)
Capital subscriptions and contributions to international financial institutions, excluding IMF
Credits repayable in U S dollars
Credits repayable in other than U.S. dollars
Other long-term assets
4,930
1,814
2,487
-6
636
1,076
438
498
-€
145
1,489
358
974
1,127
433
531
1,238
586
484
1,613
411
1,030
1,382
415
801
173
166
Foreign currency holdings and short-term assets, net (table 1 line 42 with sign reversed)
Foreign currency holdings (excluding administrative cash holdings), net
Receipts from:
Sales of agricultural commodities
Interest
v
Reoavments
Drincioal1
jj
'r"7"lv""*' of
7" r""*"^"
-106
13
23
8
6
U.S. Government grants and transactions increasing Government assets, total
By category
2
3
4a
4b
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Grants net (table 1 line 30 with sign reversed)
Financing military purchases1
Other grants
Cash contributions received from coalition partners for Persian Gulf operations
-20
8
40
Other sources
Less currencies disbursed for:
Grants and credits in the recipient's currency
Other grants and credits
Other U S Government expenditures
Assets acquired in performance of U.S. Government guarantee and insurance obligations, net
Other assets held under Commodity Credit Corporation Charter Act net
Assets financing military sales contracts net2
Other short-term assets (including changes in administrative cash holdings) net
6
2
77
-147
147
4
n
21
18
-261
-20
3
10
n
1
20
70
18
18
1,107
427
525
1
154
-83
-5
91
2
25
13
n
n
n
4
6
10
1
5
10
4
1
n
n
1
16
25
6
-27
n
4
-5
0
-17
-7
n
n
n
116
16
-3
2
1
i'
1
34
-215
n
n
6
0
n
60
73
-26
1,814
823
13,710
1,356
216
1,161
58
77
696
438
207
4,173
218
109
176
25
20
218
358
196
2,143
478
71
295
14
34
132
433
175
2,461
392
31
187
11
16
61
586
245
4,933
269
6
503
8
6
285
427
147
1,947
336
29
171
17
4
170
411
190
2,136
405
346
192
6
-17
170
415
261
1,945
413
117
319
11
6
169
12,012
6,282
2,635
2,553
457
3,337
2,135
662
447
151
2,329
674
718
654
147
2,458
869
669
813
67
3,888
2,603
586
638
92
1,988
737
627
588
77
2,543
737
736
505
102
2,359
965
636
446
65
2,096
413
233
297
42
70
508
231
93
746
91
50
545
48
19
511
36
4
404
523
34
381
313
5
n
n
n
20
n
n
n
n
n
n
2,206
8
34
1,323
19
16
1,277
6
2,940
1
4
1,252
8
-17
1,328
1
6
1,284
1,013
850
69
558
172
51
870
704
72
213
398
21
165
1,045
887
169
249
279
41
149
157
1,111
938
39
529
337
33
18
1,206
1,040
92
565
295
63
26
167
18
1,358
1,191
96
340
421
331
3
167
1,872
1,595
179
340
728
113
236
277
907
854
160
187
478
503
654
666
16
-25
3,714
386
2,790
333
3,631
83
3,172
335
-648
-341
-432
588
77
505
102
446
65
511
3,190
404
3,727
381
3,740
-103
By program
24
25
26
27
28
29
30
31
32
Capital subscriptions and contributions to international financial institutions excluding IMF
Under Agricultural Trade Development and Assistance Act and related programs
Under Foreign Assistance Act and related programs
Under Export-Import Bank Act
Under Commodity Credit Corporation Charter Act
Under other grant and credit programs
Other foreign currency assets acquired (lines A13, A14, and A16)
Less foreign currencies used by U S Government other than for grants or credits (line A1 9)
Other (including changes in administrative cash holdings), net
33
34
35
36
37
38
39
40
41
42
Estimated transactions involving no direct dollar outflow from the United States
Expenditures on U S goods
Expenditures on US. services4
Financing of military sales contracts by U.S. Government5 (line C6)
By long-term credits
By short-term credits l
By grants l
U.S. Government grants and credits to repay prior U.S. Government credits 14
U.S. Government long- and short-term credits to repay prior U.S. private credits6 and other assets
Increase in liabilities associated with U.S. Government grants and transactions increasing Government assets (including changes in
retained accounts)7 (line C11)
.
Less receipts on short-term U.S. Government assets (a) financing military sales contracts l (b) financing repayment of private credits
and other assets and (c) financing expenditures on U S goods
Less foreign currencies used by U S. Government other than for grants or credits (line A19)
, .
Estimated dollar payments to foreign countries and international financial institutions
By disposition3
43
44
45
B1
2
3
4
5
6
7
8
Repayments on U.S. Government long-term assets, total (table 1, line 41)
Receipts of principal on U S Government credits
Under Agricultural Trade Development and Assistance Act and related programs
Under Foreign Assistance Act and related programs
Under Export-Import Bank Act
Under Commodity Credit Corporation Charter Act
Under other credit programs
Receipts on other long-term assets
C1
2
3
U S Government liabilities other than securities, total, net increase (+) (table 1, line 53)
Associated with military sales contracts2
U.S. Government cash receipts from foreign governments (including principal repayments on credits financing military sales contracts),
net of refunds l
Less U S Government receipts from principal repayments
Less U S Treasury securities issued in connection with prepayments for military purchases in the United States
Plus financing of military sales contracts by U.S. Government5 (line A36)
By lono-term credits
••••«
By short-term credits l
BY Grants *
Less transfers of goods and services (including transfers financed by grants for military purchases, and by credits) l 2 (table 1, line 4)
Associated with U.S. Government grants and transactions increasing Government assets (including changes in retained accounts) 7 (line
4
5
6
7
8
9
10
11
A42)
12
13
14
15
Associated with other liabilities
Sales of nuclear material by Department of Energy/U S Enrichment Corporation
Other sales and miscellaneous operations
See footnotes on page 27.
...
27
77
7,747
4,134
3,482
402
1,585
1,145
175
175
652
720
724
n
-143
-107
-204
-209
14,993
867
1,307
2,553
457
3,561
368
657
447
151
2,913
31
654
147
813
67
4,804
83
1,151
638
92
2,096
14,647
297
3,092
508
3,961
746
3,572
545
4,022
S
34
42
-43
5
1
-39
2
-216
n5
1
8
-4
-285
n
53
44
-3
12
n
-27
-11
-10
-6
42
-34
3
5
n
-13
-3
-3
-7
218
23
n
22 • January 1998
SURVEY OF CURRENT BUSINESS
Table 5.—Direct Investment: Income, Capital, Royalties and License Fees, and Other Private Services
[Millions of dollars]
Not seasonally adjusted
(Credits +; debits -)
Line
1996
1996
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
U.S. direct investment abroad:
Income with current-cost adjustment, before deduction of withholding taxes (table 1,
line 12)
Earnings
Distributed earnings
Reinvested earnings
Interest1
U.S. parents' receipts
U.S. parents' payments
Less: Current-cost adjustment
Less: Withholding taxes
Equals: Income without current-cost adjustment, after deduction of withholding taxes2
Petroleum
Manufacturing ....
Other
Capital with current-cost adjustment (table 1, line 44)
Equity capital ....
Increases in equity capital34
Decreases in equity capital
Reinvested earnings
Intercompany debt
U.S. parents' receivables
U.S. parents' payables
Less: Current-cost adjustment (line 8 with sign reversed)
Equate Capital without current-cost adjustment2
Equity capital (line 15)
Petroleum
Manufacturing
Other
Reinvested earnings without current-cost adjustment (line 18 less line 22)
Petroleum
Manufacturing
Other
Intercomoanv debt (line 19) ...
Petroleum
Manufacturing
Other
Royalties and license fees, before deduction of withholding taxes, net
0 S parents' receipts (table 1 part of line 8)
U S. parents' payments (table 1 part of line 22)
Other private services, before deduction of withholding taxes, net
U S parents' receipts (table 1 part of line 9)
U.S. parents' payments (table 1, part of line 23)
• II»WIVVIM|A«IIJ
Vi«Wl
VMIIW
!«//
Foreign direct investment in the United States:
Income with current-cost adjustment, before deduction of withholding taxes (table 1,
line 26)
Distributed earnings
Reinvested earnings
Interest l
U.S. affiliates' payments
U.S. affiliates' receipts
Less* Current-cost adjustment
Less: Withholding taxes
Equals: Income without current-cost adjustment, after deduction of withholding taxes2
Petroleum
Manufacturing
Other
Capital with current-cost adjustment (table 1, line 57)
Equity capital ...
Increases in equity capital3 4
Decreases in equity capital
Reinvested earnings
Intercompany debt
U.S. affiliates' payables
U.S. affiliates' receivables
Less: Current-cost adjustment (line 49 with sign reversed)
Equals: Capital without current-cost adjustment2
Equity capital (line 56)
Petroleum ....
Manufacturing
Other
Reinvested earnings without current-cost adjustment (line 59 less line 63)
Petroleum ....
Manufacturing
Other
Intercompany debt (line 60)
Petroleum ....
Manufacturing
Other
Royalties and license fees, before deduction of withholding taxes, net
U.S. affiliates' payments (table 1, part of line 22)
U.S. affiliates' receipts (table 1, part of line 8)
Other private services, before deduction of withholding taxes, net
U.S. affiliates' payments (table 1, part of line 23)
U.S. affiliates' receipts (table 1, part of line 9)
See footnotes on page 27.
II
98,890 23,613
95,514 22,821
37,629 6,697
57,885 16,124
IV
III
24,318
23,496
9,091
14,405
Seasonally adjusted
1997
23,837
22,993
8,235
14,758
Ilk
II'
I
27,123
26,204
13,606
12,598
1996
26,164
25,273
7,317
17,956
I
II
1997
III
I
IV
II'
III/'
3,377
6,737
-3,360
792
822
843
920
890
1,622
1,667
1,678
1,769
1,703
28,380
27,325
9,806
17,518
1,055
1,860
-830
-846
-835
-850
-813
-805
2,252
1,572
504
289
543
396
583
355
622
532
662
358
702
351
742
387
504
318
543
459
583
409
622
385
662
400
702
406
742
447
95,067
11,960
34,975
48,132
22,820
3,007
8,990
10,823
23,379
2,858
9,356
11,165
22,899
2,611
8,194
12,094
25,969
3,484
8,436
14,050
25,144
3,735
8,624
12,785
27,327
3,154
9,917
14,256
26,009
2,954
9,243
13,812
22,567
2,831
8,913
10,823
22,926
2,969
8,792
11,165
23,683
2,864
8,725
12,094
25,891
3,296
8,545
14,050
24,810
3,493
8,533
12,785
26,862
3,267
9,339
14,256
26,899
3,254
9,833
13,812
-26,243 -22,210 -23,634 -11,104 -30,865 -26,426 -36,659
-11,071 -9,370 -2,161 -4,788 -5,286 -11,252 -10,036
-13,957 -12,469 -7,949 -7,545 -10,932 -13,604 -14,891
2,886
5,788
2,757
3,098
2,352
5,646
4,855
-16,659 -14,076 -12,942 -13,662 -17,205 -15,609 -15,604
1,237 -8,531
1,486
7,346 -8,374
436 -11,019
7,254 -10,528
-1,751
4,505 -9,793 -6,167 -12,564
3,237 -6,017
2,841
1,997
1,544
6,602
1,419
-24,661
-11,071
-13,957
2,886
-15,076
1,486
-1,751
3,237
-87,813 -24,258 -25,097 -12,200 -26,258 -28,773 -38,573
-21,605 -9,370 -2,161 -4,788 -5,286 -11,252 -10,036
-38,895 -12,469 -7,949 -7,545 -10,932 -13,604 -14,891
17,290
3,098
5,788
2,757
5,646
2,352
4,855
-57,885 -16,124 -14,405 -14,758 -12,598 -17,956 -17,518
1,237
-8,323
-6,531
7,346 -8,374
436 -11,019
7,254 -10,528
-8,563
4,505 -9,793 -6,167 -12,564
1,997
241 -6,017
2,841
1,544
1,419
6,602
-2,252
-604
-543
-583
-622
-662
-702
27,138
26,084
9,425
16,659
1,054
1,982
23,389
22,597
8,521
14,076
792
822
843
920
890
1,622
1,667
1,678
1,769
-928
-830
-846
-835
-850
-742
-504
23,929
23,107
10,165
12,942
-543
24,675
23,831
10,169
13,662
-583
26,898
25,978
8,773
17,205
-622
25,872
24,982
9,372
15,609
1,703
27,970
26,915
11,311
15,604
1,055
1,860
28,088
27,034
11,958
15,076
1,054
1,982
-813
-805
-928
-662
-702
-742
-85,561 -23,754 -24,554 -11,617 -25,636 -28,111 -37,871 -25,501 -21,706 -23,090 -10,521 -30,244 -25,764 -35,957 -23,919
-21,605 -9,370 -2,161 -4,788 -5,286 -11,252 -10,036 -11,071 -9,370 -2,161 -4,788 -5,286 -11,252 -10,036 -11,071
352
2,215
-873
-331
-910
-623
-762
-936
-910
-331
2,215
-762
-623
-873
-936
-9,024 -4,668 -1,378
-873
-2,105 -3,595 -1,287 -2,807 -4,668 -1,378
-873
-2,105 -3,595 -1,287 -2,807
-12933 -4,371 -2,998 -3005 -2559 -6895 -7,876 -7,328 -4,371 -2,998 -3005 -2559 -6895 -7876 -7,328
-55,633 -15,620 -13,862 -14,175 -11,976 -17,294 -16,816 -15,917 -13,572 -12,399 -13*.079 -16*.583 -14*947 -14*,902 -14*,334
-5,533 -1,640 -1,141 -1,000 -1,753 -2,580 -1,325 -2,000 -1,166 -1,420 -1,047 -1 ,90C
-2,046 -1.61C -2,170
-21 248 -6,589 -6,542 -4518 -35QC -5642 -5.28C -5063 -637C -5,274 -4431 -5*173 -5*35C -349C -4928
-28*,852 -7,391 -6,179 -8,658 -6*624 -9*,073 -10*,211 -8*.853 -6*.036 -5,705 -7*.601 -3*.510 -7*.551 -9,802 -7*,236
1,237 -8,531
-8323
1 237 -8531
7,346 -8374
436 -11,019
1,486
7,346 -8,374
436 -11,015
1 486
1
947 -1,722
-963
419
-*607
435
947 -1*722
419
' 35 -460
-607
435
-460
1,987
772 -1,953
937 -2,693
1,743
1,277
-678
1,987
772 -1,953
937 -2,693
-678
1,277
-9,102 -1,698 -7,581
2,694 -10,376
8,880 -8,704
670 -1,698 -7,581
8,880 -8,704
2,694 -10,376
670
3*
21,363
21,916
5,115
5,232
5,185
5,322
5,319
5,456
5,742
5,907
5,296
5,450
5,173
5,345
5,178
5,335
5,415
5,531
5,299
5,436
5,369
5,505
5,281
5,445
5,607
5,761
5,288
5.46C
-554
-117
-137
-136
-164
-155
-172
-157
-117
-137
-136
-164
-155
-172
-157
6,259
13763
-7*.505
1,686
3,400
-1,714
1,606
3389
-1,783
1,479
3358
-1*,879
1,488
1,757
3521
-1J64
1,580
3,494
-1*.914
1,641
342C
-1>88
1,564
3617
1,633
3,781
-2',148
1,475
-2*.129
1,626
3756
-2*.130
1,649
3622
-l!973
1,663
3802
-2*,139
1,625
3839
-2^214
-32,132
-24,211
-12 024
-12,187
-7921
-13,220
5,299
-6,488
-5,259
-2,652
-2,607
-1 230
-2,936
1,706
-8,184
-6,079
-2,496
-3,583
-2105
-3,077
-7554
-5*.304
-4745
-8175 -10561 -10,992
-6,065 -7,789 -8,519
-2141 -3447 -2,320
-3,924 -4,342 -6,199
-2110 -2,772 -2,475
-3,437 -4',069 -4',018
1,297
1,327
1,546
-6,842
-5,612
-2792
-2*,821
-1,230
-2,935
1,706
-7873
-5>67
-2639
-3*,129
-2 105
-3,077
972
-9905
-7,569
-2131
-5,438
-2336
-3,596
1,260
1,873
468
-47
468
-38
468
-64
469
-96
476
-54
468
-47
-7,263
-245
-53,759
-4190
-17,262
-12,308
-6,909
76,955
53,030
62,739
-9,709
12,187
11,739
24,102
-12,363
-559
-2250
-3,612
1,363
471
-39
473
-44
-3,562
-2,643
-8,615 -10,309
-988
-1 426
-4,863 -4,662
-2,764 -4,221
-7,927
-1 072
-4,176
-2,679
-8,607 -10,990 -11,414
-1,182 -1 126 -1,385
-4,189 -5*.638 -5,014
-3,236 -4,226 -5,015
15,662
16,996
18,194
-1,198
2,607
-3,940
5,317
-9,257
17,894
7,141
10,625
-3,484
3,583
7,170
5,528
1,642
26,579
12,993
16,116
-3,123
5,438
8,148
8,345
16,820
15,900
17,804
-1,904
30,381
11,799
12,622
-822
-995
559
360
-197
4,912
-4,552
3,924
14,657
21,500
-6,843
-1,873
-468
-468
-468
-469
78,828
53,030
4,608
14,764
33,659
14,060
2,320
9,574
2,166
11,739
1,186
4,774
5,779
16,130
16,996
1,896
5,825
9,275
3,075
18,362
7,141
2,202
2,306
2,633
4,051
27,047
12,993
17,289
15,900
-2,905
-4,748
1,844
-704
211
299
2,306
13,295
1,028
-602
375
713
2,135
3,244
565
94
-3,940
3,097
-1,442
-5,595
7,170
4,327
8,456
5,906
1,052
2,832
2,021
8,148
-992
-317
-831
972
-9612
-7*.276
-2439
-4*836
-2336
-3*,596
1,260
-7805
-5,555
-4155
-1*400
-225C
-3*.612
1,363
468
-38
46E
-64
46£
-96
-3,916
-2,643
4,342
14,200
18,061
-3,860
21,713
12,856
14,831
-1,975
6,199
2,657
8,999
-6,342
15,877
16,996
18,194
-1,198
2,821
-3,940
5,317
-9,257
17,440
7,141
10,625
-3,484
3,129
7,170
5,528
1,642
-471
-473
-476
-468
30,852
11,799
1,033
5,553
5,214
4,395
27,574
8,558
22,189
12,856
1,472
3,058
8,326
6,675
1,344
2,888
2,444
2,657
1,192
16,345
16,996
1,896
5,825
9,275
3,289
27,101
8,558
9,553
482
2,668
5,408
4,815
180
859
895
2,567
3,412
969
508
14,657
576
14,200
1,590
360
3431
-1*.867
-8,303 -10,016
-988
-1 426
-4,551 -4i368
-2,764 -4,221
1,363
-515
3410
-1*935
-70^
^68
17,908
7,141
2,202
2,306
2,633
3,597
11,891
2,214
-949
-808
-934
-845
-789
-1,214
-1,089
-1,138
-1,307
-1,222
-1,201
-1,392
-1,241
384
317
389
754
272
393
457
396
-995
3,850
14,200
18,061
-3,860
-476
21,552
12,856
1,472
3,058
8326
6,039
1,344
2,251
2444
2,657
1,192
211
299
2,306
13,295
1,869
-602
-317
-553
4,912
-4,552
-822
4,185
14,657
21,500
-6,843
21,076
12,856
14,831
-1,975
5,563
2,657
8,999
-6,342
-473
-992
-749
360
26,608
8,558
9,553
27,081
8,558
7,170
-772
30,641
11,799
12,622
-471
94
1,308
12,773
17,661
15,900
17,804
-1,904
1,400
31,112
11,799
1,033
5,553
5,214
4,656
713
-2,212
3,174
-54
-469
2,790
960
-4*
-8,971 -10,670 -11,122
-1,182 -1,12(
-1 385
-4',553 -5*.318 -4,722
-3,236 -4,226 -5,015
18,130
15,900
565
7,505
-39
-8,178
-1,072
-4*,427
-2,679
26,445
12,993
375
695
-8539 -10,241 -10,701
-6*429 -7,469 -8i228
-2,244 -3,615 -2665
-4*,185 -3*,850 -5*,563
-2 11C -2772 -2473
-3,437 -4i069 -4*018
1,327
1,297
1,546
47fi
471
47<
mv
-468
2,349
7,467
-749
-197
4,327
8,456
5,304
1,052
2,231
2,021
8,148
-3,940
3,097
-1,442
-5,595
719
25,977
12,993
16,116
-3,123
4,836
8,148
8,345
5,226
5383
482
2,668
5,408
4,323
180
859
895
2,204
2,828
2,920
-515
360
969
508
14,657
576
14,200
1,590
11,891
7,467
960
695
7,505
-2,212
3,174
1,308
12,773
-703
-567
-975
-835
-894
-1,167
-1,128
-1,212
-1,248
-1,290
-1,380
378
424
646
272
455
719
-749
2,214
486
526
111
-34
227
222
170
365
472
166
-15
229
146
-8,521
9,047
232
-1,963
2,074
-2,122
2,088
472
-2,34
2,569
399
-2,089
2,316
-2,249
2,419
-2,198
2,564
-2,302
2,774
-1,963
2,129
-2,157
2,142
-2,138
2,367
-2,263
2,409
-2,249
2,481
-2,225
2,624
-2,359
2,831
SURVEY OF CURRENT BUSINESS
January 1998 •
2$
Table 6.—Securities Transactions
[Millions of dollars]
Not seasonally adjusted
(Credits +; debits -)
Line
A1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1996
1996
1997
IIr
I
II
III
IV
-108,189
-34,455
-20,328
-23,206
-30,200
-14,510
-21,841
-37,995
-58,786
-22,520
-17,519
-8,164
-10,583
-11,757
-13,257
-15,700
New issues in the United States
Of which Western Europe
Canada
Latin America
-11,353
-5,796
-2,920
-4,908
-3,341
-1,342
-2,183
-1,054
-2,007
-2,377
-3,114
-547
-757
Transactions in outstanding stocks, net
Western Europe
Of which United Kingdom
Canada
-47,433
-25,408
-12,983
-2,152
-9,561
-10,312
-19,600
-6,919
-2,054
-889
-7,929
-3,863
-49,403
-11,935
-52,472
-9,867
-10,206
-31,280
-1,119
-11,380
-7,531
Foreign securities, net U.S. purchases (-), (table 1, line 45 or lines 2 + 13 below)
Stocks net U S purchases
Bonds, net U.S. purchases
New issues in the United States
By issuer:
Central governments and their agencies and corporations
Other governments and their agencies and corporations *
Private corporations
..
International financial institutions2
By area:
Western Europe
Canada
..
.
.
.....
-56
-716
-99
-1,555
J2
8
-8,400
-6,484
-4,128
-2,527
-2,234
-102
-2,004
997
-2,211
-9,750
-4,824
-3,122
1,506
-1,920
-4,512
-10,880
664
-2,378
-933
-6,822
-5,088
-1,958
372
-2,809
-15,042
-19,617
-2,753
-8,583
-22,295
-12,895
-8,411
-13,800
-17,366
-14,959
-15,476
-22,600
-3,022
-2,716
-6,957
-89
-1,587
-6,725
-10
-5,517
-1,014
-6,423
-1,239
-4,889
-11,175
-63
-3,990
-2,861
-2,237
-4,349
-15,927
-87
-3,942
-3,042
-1,420
-1,989
-1,493
-4,029
-2,033
-4,023
-1,220
-2,614
-1,668
-5,145
-2,065
-16,169
-16,076
-1,119
'335T
-2,785
-3,036
-10
'^"518""
-2,954
'^sr
-7,705
'^SST
-3,691
'5J245'"
-5,949
^6"677
-8,626
-87
3,475
2,508
388
579
3,438
977
1,206
1,230
25
4,500
1,578
983
1,764
175
4,763
1,062
564
2,240
897
3,633
888
678
517
1,550
1,566
274
493
701
99
3,947
988
1,042
1,918
515
2,164
1,491
4,818
1,148
-5,742
-10,458
-8,872
2,057
3,216
8,573
5,141
2,848
1,518
-1,471
3,385
5,327
7,206
5,710
-557
-7,014
-9,858
-10,855
-1,325
1,270
2,899
-1,591
103
-3,642
-7,676
-9,036
-1,814
538
5,310
-197
Latin America .
Other countries
International financial institutions 2
-644
\\\P
-ffi
8
Other
-757
-645
-394
I
-200
-2,381
-200
-561
-92
-12,611
-6,917
-4,843
-963
-197
-846
-846
-702
-63
-910
-9,859
-917
-804
-8,642
-2,099
-111
-12,504
-200
-200
-12,586
-7,125
-8,064
-1,572
-3,047
-842
25
26
27
28
29
Redemptions of U.S.-held foreign bonds3
Western Europe
Other countries
International financial institutions2
16,176
6,125
3,141
5,813
1,097
30
31
32
33
34
35
Other transactions in outstanding bonds, net3
Western Europe
Of which United Kingdom
Canada
Jaoan
Other
-13,107
-20,645
-17,577
1,524
3,419
2,595
-2,515
-1,820
-2,668
139
114
133,798
36,475
29,761
35,115
32,447
38,820
51,682
60,770
12,604
3,530
6,068
1,681
1,325
10,223
21,675
23,475
6,307
1,252
2,606
3,942
2,156
2,129
277
736
491
352
531
120
1,059
-274
414
81
331
3,020
1,406
-443
-807
4,584
1,149
2,309
3,542
3,273
542
1,008
1,484
-35
-1,314
136
10,579
2,727
1,331
3,231
1,130
-2,340
854
14,384
2,090
1,996
5,949
155
4,151
2,985
15,097
2,017
-2,588
6,611
-1,279
1,397
8,260
121,194
32,945
23,693
33,434
31,122
28,597
30,007
37,294
53,445
44,558
23,191
13,511
14,392
5,042
11,643
5,662
6,388
13,716
12,162
7,556
14,575
12,342
4,205
20,740
7,422
435
23,719
9,624
-3,336
27,470
12,445
-2,620
74,561
5,218
888
54,991
3,902
13,749
28,941
41
21,356
2,329
-60
14,963
504
984
10,026
75
16,090
1,658
271
10,462
1,420
2,601
3,593
-11
20,656
1,237
785
15,366
1,000
5,464
6,323
-9
16,459
-6
20,368
400
-108
-151
14,200
978
4,700
8,999
-14
18,239
1,794
3,339
3,097
-1
18,142
109
147
15,087
822
3,251
7,789
3
23,199
1,527
-1,485
17,750
1,533
4,054
8,513
-4
86,875
4,381
1,636
^358
157,259
26,044
52
-9
8,087
1,258
831
454
30,538
30,404
1,217
905
-2,490
44,479
22,340
1,854
-91
1,880
70,742
25,060
651
365
-3,590
48,222
20,534
644
16
884
37,106
8,712
2,663
632
-3
34,424
B1
U.S. securities, excluding Treasury securities and transactions of foreign official agencies, net
foreign purchases (+), (table 1, line 59 or lines 2 + 10 below)
2
3
4
5
6
7
8
9
By area:
Western Europe
Of which Germany
Switzerland
United Kingdom
Canada
Jaoan
other."!!"!!!!!!!!!!!!!!!!!!!!!!"!!!!!!!!!!!!"!""!!!!!!!!"!"!!!!! !
10
Corporate and other bonds net foreign purchases
11
12
13
By type:
New issues sold abroad by U.S. corporations
U S federally sponsored aoency bonds net
Other outstanding bonds net
14
15
16
17
18
19
20
21
By area:
Western Europe ..
Of which Germany
Switzerland
United Kingdom
Canada
Japan ..
Other countries
International financial institutions2
!!!
!
.
-356
-478
-682
-589
-243
-631
-392
Memoranda:
Other foreign transactions in marketable, long-term U.S. securities included elsewhere in international
transactions accounts:
Foreign official assets in the United States (lines in table 9):
U.S. Treasury marketable bonds (line A4)
1
2
U.S. corporate and other bonds (part of line A14)
3
u!s! stocks (part of line A14)
4
5 Other foreign transactions in U.S."freasury bonds and notes (table 9, line B5)
See footnotes on page 27.
-202
11,500
SURVEY OF CURRENT BUSINESS
24 • January 1998
Table 7.—Claims on and Liabilities to Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns
[Millions of dollars]
Not seasonally adjusted
Line
A1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
(Credits +; increase in U.S. liabilities or decrease in U.S. assets.
Debits -; decrease in U.S. liabilities or increase in U.S. assets.)
Claims total (table 1, line 46)
Financial claims
Denominated in U S dollars
.. .
Denominated in foreign currencies
By type* Deposits 2
Other claims23
By area' Industrial countries4
.. .
Of which United Kingdom
Canada
Caribbean banking centers 5
Other
Commercial claims
Denominated in U S dollars
Denominated in foreign currencies .
By type* Trade receivables
Advance payments and other claims
4
By area: Industrial countries
Members of OPEC6
Other
.
B1
Liabilities total (table 1 line 60)
5
6
7
8
9
10
11
12
13
14
15
16
.
Financial liabilities
Denominated in US dollars
Denominated in foreign currencies
By area: Industrial countries 4
Of which United Kingdom
Caribbean banking centers 5
Other
Commercial liabilities
Denominated in U.S. dollars
Denominated in foreign currencies
By type* Trade payables
Advance receipts and other liabilities
4
By area* Industrial countries
Members of OPEC6
Other
See footnotes on page 27.
1997
1996
Amounts
outstanding September
30, 1997
I
II
III
IV
I
-64,234
-15,778
-5,047
-17,294
-26,115
-29,466
-3,984
-15,900
419,412
-61,568
-41,661
-19,907
-16,257
-4,470
-11,787
-4,832
-4,891
59
-17,774
-8,639
-9,135
-22,705
-23,661
956
-30,369
-26,035
^,334
-4,005
2,596
-6,607
-15,900
-15,900
391,825
307,430
84,395
-60,856
-16,147
-4,672
-17,563
-22,474
-30,823
454
-3,749
-15,900
387,147
4,678
-16,197
-8,873
894
-14,279
107
-2,656
-4,827
2,843
21
148
-712
17
18
19
2
3
4
1996
-110
-160
-211
-231
-29,780
-18,167
-1,061
-30,719
-1,069
-14,987
-10,672
-2,666
-2,657
-9
479
410
69
-215
-166
-49
480
432
48
-3,410
-3,333
-77
903
916
-13
875
-153
266
214
-3,215
1,015
-195
-112
645
-91
-74
-1,503
-1,700
-2,227
-141
-1,234
-36
-439
-396
-1,161
-231
-100
-278
-1,227
810
6,319
3,180
55
-10,854
-297
-62
-72
120
-263
-8,112
-4,072
3,126
-9,399
-263
-13,000
-6,603
-4,101
-9,232
-473
-207
1
If
III
-256
-957
-392
-15,900
161,491
79,266
7,398
217,652
12,682
27,587
26,151
1,436
-127
-52
73
24,853
2,734
485
68
350
159
83
,-221
15,064
1,095
11,428
31,786
6,800
7,288
20,610
-2,912
15,210
-7,916
7,600
285,488
26,194
12,420
13,774
5,774
3,574
2,200
7,108
3,100
4,008
18,375
11,156
7,219
-5,063
-5,410
347
13,863
11,301
2,562
-8,161
-3,713
7,600
7,600
252,289
273,384
38,905
27,031
25,140
10,054
7,757
-4,105
6,530
7,738
900
-175
-322
10,247
9,176
7,897
231
200
469
-5,349
86
11,177
11,896
2,300
386
-1,118
167
-7,000
-43
180
102
78
2,235
2,356
-121
2,151
2,123
28
1,347
1,434
-87
245
236
9
266
-86
524
1,711
914
1,237
-1,200
2,547
1,217
260
758
1,522
293
336
637
308
402
-657
-180
5,592
5,919
1,026
1,338
-327
-312
1,506
4,086
1,224
3,967
632
993
-198
1,371
-225
-120
-143
304
19
-448
7,600
87,089
75,538
148,400
16,800
33,199
32,170
1,029
638
11,122
22,077
46
131
68
18,967
2,846
11,386
-393
SURVEY OF CURRENT BUSINESS
January 1998 •
25
Table 8.—Claims on Foreigners Reported by U.S. Banks
[Millions of dollars]
Not seasonally adjusted
Line
(Credits +; decrease in U.S. assets. Debits -; increase in U.S. assets.)
1996
1997
1996
IV
Total, net (table 1, line 47) .
By type:
Banks' own claims
Payable in dollars
By borrower:
Claims on:
own foreign offices .
unaffiliated foreign banks .
foreign public borrowers 1
other private foreigners .
-98,186
1,868
-62,878
-68,258
192
-33,589
5,304
-1,932
1,257
-4,736
-35,084
-11,929
294
-21,539
9,811
-2,107
-5,338
-1,109
-17,794
-11,568
-11,389
-17,290
-361
-9,856
III/'
Amounts
outstanding Sept.
30,1997
-66,657
-62,026
-11,136
-55,114
-8,734
-56,045
-9,802
-1,814
4,775
2,105
-4,170
-4,033
-50,923
-1,317
3,727
-4,213
582
-6,760
7,364
11,128
-5,834
-2,234
-10,384
4,946
5,380
4,047
2,804
-2,402
-35,308
-26,840
-19,131
-3,436
-3,197
-10,431
3,577
1,387
2,270
2,124
-22,453
-22,617
-10,292
-10,163
-2,060
-17,474
-1,107
1,153
-2,172
1,621
1,211
-1,508
-38
-1,935
-22,432
-7,885
-61,572
-50,727
-21,261
-12,749
1,468
436
-3,218
1,681
3,574
-2,552
-1,208
-1,139
11,348
-11,934
14,461
7,477
1,344
495,738
346,845
150,329
53,491
83,159
12,243
-27,947
-22,760
968,533
-44,047
-26,233
-10,960
745,451
-35,969
-14,957
-4,371
655,806
-19,085
-1,083
4,982
14,892
-21,851
-17,832
-4,891
-6,657
-6,589
374,443
104,635
29,745
146,983
-5,814
-4,784
3,991
-11,245
-3,751
-18,531
7,062
1,591
-1,634
3,428
600
2,992
-13,965
130,113
40,756
117,348
1,644
-19,678
-224
-2,616
-24,894
-6,482
-11,612
-22,513
-1,683
2,219
2,544
7,214
-10,280
244,330
63,879
59,380
931
-8,078
-11,276
-6,589
89,645
-11,543
-4,320
3,045
-1,940
-6,697
1,272
-7,223
-17,979
-1,714
-11,800
-12,882
-7,075
-6,271
3,138
223,082
212,872
101,666
74,171
19,016
18,019
10,210
153
^3,975
704
-630
5,741
^351
-23,894
2
By bank ownership:
U.S.-owned banks' claims on:
own foreign offices .
unaffiliated foreign banks .
other foreigners ................
Foreign-owned banks' claims on:
own foreign offices ....................
unaffiliated foreign banks .
other foreigners ,
Payable in foreign currencies ,
Banks' domestic customers' claims ..........
Payable in dollars .
Deposits ......................................
Foreign commercial paper3 .......
Other negotiable and readily transferable instruments4 .
Outstanding collections and other ........
Payable in foreign currencies ...................
By area:
Industrial countries5 .............. .......
Western Europe ........................
Of which United Kingdom ....
Canada ......................................
-1,993
4,952
-8,468
-52,753
-40,870
-17,842
-10,760
2,305
-3,428
-239
12,303
-700
-4,309
2,487
10,724
-208
-484
3,294
-1,453
-2,142
5,377
1,512
-1,170
751
-4,522
-102
164
-8,637
-7,479
1,857
-4,189
2,416
615
-33,987
-24,806
-16,076
-6,129
-2,842
-993
-210
686
-2,929
-10,625
-19,600
221
556
2,438
7,678
-674
1,082
6,104
Caribbean banking centers6 .
-17,366
-2,497
14,461
-3,663
-25,667
8,308
-16,988
-30,827
282,478
Other areas......................_____________________________________________
Of which Members of OPEC, included below7 .,
Latin America ......
Asia .
Africa 8 ..........................
Other ,
-28,067
-589
-10,505
-7,938
2,609
-5,632
4,061
-1,862
-1,449
-18,558
-8,762
-7,741
-3,281
1,166
-3,395
1,762
Memoranda:
International banking facilities' (IBF's) own claims, payable in dollars (lines 1-13 above) ,
By borrower:
Claims on:
own foreign offices
unaffiliated foreign banks
foreign public borrowers
all other foreigners
By bank ownership: *
U.S.-owned IBF's
Foreign-owned IBF's ....
Banks' dollar acceptances payable by foreigners
See footnotes on page 27.
-15,430
128
-2,260
677
-4,914
-78
-3,623
-733
-675
-603
-197
-122
144
-4,920
-61
-3,925
-4,427
-5,174
-571
-137
2,431
-1,511
190,317
15,260
89,013
88,951
3,278
9,075
-7,494
-30
4,729
2,567
568
-9,058
-7,751
23
-1,772
213
-17,199
3,223
1,012
2,326
-23,760
-10,367
-2,403
2,787
229,579
-15,723
563
1,495
-3,534
6,264
-3,870
859
-3,304
4,443
963
2,744
-21,427
-4,188
-3,854
339
1,574
-4,703
670
56
-655
5,515
-85
-1,988
134,208
58,741
5,655
30,975
4,872
-22,071
-1,214
-278
-141
3,309
3,501
1,153
-983
-622
-303
1,484
1,303
583
55,366
174,213
10,854
-1,090
-525
145
-38
-61
515
^72
-2,376
1,982
-25,742
-228
-2,664
-1,341
-9,026
2,430
-4,833
-810
-235
SURVEY OF CURRENT BUSINESS
26 • January 1998
Table 9.—Foreign Official Assets and Other Foreign Assets in the United States Reported by U.S. Banks
[Millions of dollars]
Not seasonally adjusted
(Credits +; increase in foreign assets. Debits -; decrease in foreign assets.)
Line
1996
1996
I
A1
2
3
4
5
6
7
8
9
10
11
12
13
14
Foreign official assets in the United States, net (table 1, line 49)
US Treasury securities (table 1, line 51)
Bills and certificates
Bonds and notes, marketable
Bonds and notes, nonrnarketable
Other U.S. Government securities (table 1, line 52)
Other U S Government liabilities (table 1 line 53)
U.S. liabilities reported by U.S. banks, not included elsewhere
(table 1, line 54)
Banks' liabilities for own account, payable in dollars l
Demand deposits
Time deposits 12
..
Other liabilities
Banks' custody liabilities payable in dollars 13
Other foreign official assets (table 1 line 55)
II
Amounts
outstanding Sept.
30, 1997
1997
IV
III
I
If
Ilk
122,354
52,014
13,154
24,089
33,097
28,891
-5,374
22,498
835,157
111,253
24,901
86,875
55,600
29,848
26,044
-3,383
-11,211
8,087
25,472
-5,049
30,404
117
1,217
907
-1,922
-5,948
33,564
11,313
22,340
-89
1,854
160
-4,270
-6,687
-12,108
-32,269
20,534
600,420
156,939
437,657
5,824
33,588
27,092
138,308
106,221
1,767
40,414
64,040
32,087
35,749
-162
-539
23,289
-1,887
25,060
116
651
478
7,698
11,294
879
-4,014
-1,772
4,026
-1,585
-1,238
-4,911
2,417
1,789
11,060
-3,596
-3,225
7,003
229
-1,810
900
6,485
-2,340
8,712
113
2,663
16
12,705
7,988
263
379
7,346
4,717
629
38,471
52,838
114,286
68,676
78,015
57,596
1,760,508
10,602
36,152
50,798
75,326
51,289
49,915
43,494
881,156
13,002
1,502
11,500
-2,400
31,652
1,114
30,538
4,500
43,398
-1,081
44,479
7,400
67,526
-3,216
70,742
7,800
47,805
48,222
3,484
45,093
7,987
37,106
4,822
36,918
2,494
34,424
6,576
656,674
44,336
612,338
224,482
9,784
7,037
9,657
-53,535
-29,897
-28,944
2,319
2,107
-2,991
2,040
295
686
38,960
34,532
40,906
17,387
21,543
12,564
28,100
11,401
12,258
14,102
470
-12,928
879,352
812,060
691,284
5,238
-21,934
-10,350
-7,473
44,995
12,012
5,050
-8,465
410,125
-1,703
7,083
2,779
2,067
-2,570
-3,586
150
2,519
-2,117
2,759
-9,110
13,559
-1,495
505
-3,473
26,571
148,577
106,011
5,050
3,217
2,303
1,688
-8,465
-5,481
2,990
-1,972
410,125
152,150
117,938
11,071
674
-696
156,195
47,841
77,544
-523
4,381
720
4,722
-4,107
-292
52
-259
1,258
-143
-204
-3,284
5,206
14,198
3,322
788
6,464
-3,930
10,876
1,285
-588
-675
2,947
-6,467
8,829
1,278
1,735
4,146
-8,490
182,662
-22,933
172,878
155,578
-1,681
157,259
17,300
-211
-645
-373
644
654
4,536
6,346
-886
By area (see text table D):
B1
2
3
4
5
6
7
8
9
Other foreign assets in the United States, net (table 1, lines 58 and 61)
By type:
U S Treasury securities and US currency flows (line 58)
US Treasury securities
Bills and certificates
Marketable bonds and notes
US currency flows
U.S. liabilities reported by
U.S. banks (line 61)
Banks' own liabilities l
Payable in dollars
11
12
13
By account:
Liabilities to own foreign offices
Liabilities to unaffiliated foreigners:
demand deposits
time deposits l 2
other liabilities
14
15
16
17
By holder:
Liabilities to:
own foreign offices
unaffiliated foreign banks
other private foreigners
international financial institutions 4
10
18
19
20
21
22
23
By bank ownership:5
U.S.-owned banks' liabilities to:
own foreign offices
.
unaffiliated foreign banks
other private foreigners and international financial institutions4
Foreign-owned banks' liabilities to:
own foreign offices
unaffiliated foreign banks
other private foreigners and international financial institutions4
27
28
29
30
31
32
33
34
35
36
37
38
3,172
-6,788
8,035
-5,720
3,226
-10,429
14,562
5,238
-10,077
11,488
3,008
-21,934
-6,418
1,161
-1,753
-10,350
140
4,899
2,320
-7,473
3,046
2,184
2,929
44,995
-6,845
3,244
-488
12,012
-7,099
9,213
-1,562
-12,363
4,374
8,175
-13,019
2,241
-3,102
-7,698
6,811
9,191
-4,562
-2,576
12,916
-4,385
4,662
3,268
-2,274
224
-2,649
7,377
4,151
1,450
17,601
-14,451
6,321
-6,915
-6,659
2,510
-2,652
-6,671
-1,972
-2,911
3,339
7,689
32,079
-2,460
-1,906
8,744
-4,825
7,427
7,699
-4,160
-9,139
^,785
-160
-432
253,930
104,309
51,465
-391
-2,620
-418
-672
5,098
-293
-6,374
8,979
-857
13,398
120,776
2,747
3,093
-3,638
-3,084
212
115
1,745
2,023
4,428
4,039
-4,156
-4,644
16,699
13,989
13,632
10,812
67,292
58,371
U.S. Treasury securities 7and U.S. liabilities reported by U.S. banks, by area6
Industrial countries
Western Europe
Canada
Other
Caribbean banking centers8
Other areas
Of which Members of OPEC, included below9
Latin America
Asia
Africa 10
Other
165,362
100,586
92,042
10,326
-1,782
41,832
22,944
3,537
8,066
17,755
216
-3,093
-20,533
1,662
3,263
4,434
-6,035
-20,485
-1,710
796
1,073
3,848
-62
-6,569
33,971
22,833
19,077
3,574
182
6,618
4,520
586
2,342
2,046
-48
180
45,438
24,824
25,747
106,486
51,267
43,955
2,561
4,751
50,515
4,704
65,192
46,261
30,073
73,193
51,104
37,760
5,013
8,331
14,426
7,663
51,020
45,687
58,486
-8,763
-4,036
732
4,601
107
318
5,329
1,536,026
938,648
670,064
43,300
225,284
374,681
222,697
34,485
52,931
131,342
7,522
30,902
Memoranda:
International banking facilities' (IBF's) own liabilities, payable in dollars (in lines A9, and B9 above) ....
24
25
26
-417
Banks' custody liabilities payable in dollars 13
Of which negotiable and readily transferable instruments
-953
-243
-680
5,184
15,430
2,466
2,351
10,559
140
2,380
-696
-311
16,884
5,708
13,223
1,181
2,300
1,302
186
916
-747
-373
-509
15,072
131
-1,233
2,224
802
5,146
-136
-910
-16,782
-5,842
-8,316
-13,832
11,208
-2,109
8,175
342
359,223
2
3
4
5
By holder:
Liabilities to:
own foreign offices
unaffiliated foreign banks
foreign official agencies
other private foreigners and international financial institutions4
-2,699
-18,151
974
3,094
-1,445
-7,420
1,414
1,609
-7,696
-7,155
7,508
-10,311
-4,961
2,141
16,753
-2,875
-2,987
317
5,691
-5,664
-1,038
-1,098
44
-5,335
12,247
1,219
2,667
-2,758
2,694
-2,261
169,896
106,553
54,211
28,563
6
7
By bank ownership:5
U S -owned IBF's
Foreign-owned IBF's
-13,645
-3,137
2,030
-7,872
-1,857
-6,459
-16,065
2,233
2,247
8,961
-3,755
1,646
-4,906
13,081
-2,254
2,596
58,726
300,497
831
902
-532
-602
1,844
101
15,872
1
8
Negotiable certificates of deposit held for foreigners1 (in lines A13 and B26 above)
See footnotes on page 27.
-973
-360
-701
821
SURVEY OF CURRENT BUSINESS
January 1998
• 2J
FOOTNOTES TO U.S. INTERNATIONAL TRANSACTIONS TABLES 1-1O
General notes for all tables: ? Preliminary. r Revised. 'Less than $500,000 (±)
^ Suppressed to avoid disclosure of data of individual companies.
Table 1:
1. Credits, +: Exports of goods, services, and income; unilateral transfers to United States; capital inflows (increase
in foreign assets (U.S. liabilities) or decrease in U.S. assets); decrease in U.S. official reserve assets; increase in foreign
official assets in the United States.
Debits, -: Imports of goods, services, and income; unilateral transfers to foreigners; capital outflows (decrease
in foreign assets (U.S. liabilities) or increase in U.S. assets); increase in U.S. official reserve assets; decrease in foreign
offical assets in the United States.
2. Excludes exports of goods under U.S. military agency sales contracts identified in Census export documents,
excludes imports of goods under direct defense expenditures identified in Census import documents, and reflects various
other adjustments (for valuation, coverage, and timing) of Census statistics to balance of payments basis; see table 2.
3. Includes some goods: Mainly militaryequipment in line 4; major equipment, other materials, supplies, and petroleum
products purchased abroad by U.S. military agencies in line 18; and fuels purchased by airline and steamship operators in
lines 7 and 21.
4. Includes transfers of goods and services under U.S. military grant programs.
5. Beginning in 1982, these lines are presented on a gross basis. The definition of exports is revised to exclude U.S.
parents' payments to foreign affiliates and to include U.S. affiliates' receipts from foreign parents. The definition of imports
is revised to include U.S. parents' payments to foreign affiliates and to exclude U.S. affiliates' receipts from foreign parents.
6. Beginning in 1982, the "other transfers" component includes taxes paid by U.S. private-residents to foreign
governments and taxes paid by private nonresidents to the U.S. Government.
7. For all areas, amounts outstanding September 30,1997, were as follows in millions of dollars: Line 34,67,148; line
35,11,050; line 36,9,997; line 37,14,042; line 38,32,059. Data are preliminary.
8. includes sales of foreign obligations to foreigners.
9. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible and nonconvertible bonds
and notes.
10. Consists of U.S. Treasury and Export-Import Bank obligations, not included elsewhere, and of debt securities of
U.S. Government corporations and agencies.
11. Includes, primarily, U.S. Government liabilities associated with military agency sales contracts and other
transactions arranged with or through foreign official agencies; see table 4.
12. Consists of investments in U.S. corporate stocks and in debt securities of private corporations and State and local
governments.
13. Conceptually, the sum of lines 70 and 62 is equal to "net foreign investment" in the national income and product
accounts (NIPA's). However, the foreign transactions account in the NIPA's(a) includes adjustments to the international
transactions accounts for the treatment of gold, (b) includes adjustments for the different geographical treatment of transactions with U.S. territories and Puerto Rico, and (c) includes services furnished without payment by financial pension
plans except life insurance carriers and private noninsured pension plans. A reconciliation of the balance on goods and
services from the international accounts and the NIPAnet exports appears in the "Reconciliation and Other Special Tables"
section in this issue of the SURVEY OF CURRENT BUSINESS. A reconciliation of the other foreign transactions in the two sets of
accounts appears in table 4.5 of the full set of NIPA tables (published annually in the August issue of the SURVEY).
Additional footnotes for historical data in June issues of the SURVEY:
14. For 1974, includes extraordinary U.S. Government transactions with India. See "Special U.S. Government
Transactions," June 1974 SURVEY, p. 27.
15. For 1978-83, includes foreign currency-denominated notes sold to private residents abroad.
16. Break in series. See Technical Notes in the June 1989, June 1990, June 1992, June 1993, June 1995, July 1996,
and July 1997 issues of the SURVEY.
Table 2:
1. Exports, Census basis, represent transactions values, f.a.s. U.S. port of exportation, for all years; imports, Census
basis, represent Customs values (see Technical Notes in the June 1982 SURVEY), except for 1974-81, when they represent
transactions values, f.a.s. foreign port of exportation (see June issues of the SURVEY for historical data).
From 1983 forward, both unadjusted and seasonally adjusted data have been prepared by BEA from "actual" and
"revised statistical" month data supplied by the Census Bureau (see Technical Notes in the December 1985 SURVEY).
Seasonally adjusted data reflect the application of seasonal factors developed jointly by Census and BEA. The seasonally adjusted data are the sum of seasonally adjusted five-digit end-use categories (see Technical Notes in the June
1980 SURVEY, in the June 1988 SURVEY, and in the June 1991 SURVEY). Prior to 1983, annual data are as published by
the Census Bureau, except that for 1975-80 published Census data are adjusted to include trade between the U.S. Virgin
Islands and foreign countries.
2. Beginning in 1990, the Census Bureau replaced its compiled export statistics with counterpart Canadian import
statistics. Similarly, Statistics Canada replaced its compiled export statistics with counterpart U.S. import statistics. This
exchange of data has eliminated the need for the inland freight adjustment on U.S. exports, but not on U.S. imports.
3. Adjustments in lines A5 and A13, B12, B47, and B82 reflect the Census Bureau's reconciliation of discrepancies
between the goods statistics published by the United States and the counterpart statistics published in Canada. These
adjustments are distributed to the affected end-use categories in section C. Beginning in 1986, estimates for undocumented
exports to Canada, the largest item in the U.S.-Canadian reconciliation, are included in Census basis data shown in line
A1.
4. Exports of militaryequipment under U.S. military agency sales contracts with foreign governments (line A6), and
direct imports by the Department of Defense and the Coast Guard (line A14), to the extent such trade is identifiable from
Customs declarations. The exports are included in tables 1 and 10, line 4 (transfers under U.S. military agency sales
contracts); the imports are included in tables 1 and 10, line 18 (direct defense expenditures).
5. Addition of electrical energy; deduction of exposed motion picture film for rental rather than sale; net change in stock
of U.S.-owned grains in storage in Canada; coverage adjustments for special situations in which shipments were omitted
from Census data; deduction of the value of repairs and alterations to foreign-owned equipment shipped to the United
States for repair; and the inclusion of fish exported outside of U.S. customs area. Also includes deduction of exports to the
Panama Canal Zone before October 1,1979, and for 1975-82, net timing adjustments for goods recorded in Census data
in one period but found to have been shipped in another (see June issues of the SURVEY for historical data).
6. Deduction of foreign charges for repair of U.S. vessels abroad, which are included in tables 1 and 10, line 21 (other
transportation); coverage adjustments for special situations in which shipments were omitted from Census data; and the
deduction of the value of repairs and alterations to U.S.-owned equipment shipped abroad for repair. Also includes addition
of understatement of inland freight in f.a.s values of U.S. imports of goods from Canada in 1974-81; deduction of imports
from the Panama Canal Zone before October 1,1979; and for 1975-82, net timing adjustments for goods recorded in
Census data in one period but found to have been shipped in another (see June issues of the SURVEY for historical data).
7. For 1988-89, correction for the understatement of crude petroleum imports from Canada.
8. Annual and unadjusted quarterly data shown in this table correspond to country and area data in table 10, lines 2
and 16. Trade with international organizations includes purchases of nonmonetary gold from the International Monetary
Fund, transfers of tin to the International Tin Council (ITC), and sales of satellites to Intelsat. The memoranda are defined
as follows: Industrial countries. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa; Members
of OPEC: Venezuela, Ecuador, Iraq, Iran, Kuwait, Saudi Arabia, Qatar, United Arab Emirates, Indonesia, Algeria, Libya,
Nigeria, and Gabon (beginning in January 1993, excludes Ecuador); Other countries: Eastern Europe, Latin America and
Other Western Hemisphere, and other countries in Asia and Africa, less OPEC. Before 1984, complete geographic area
detail was not available for some balance of payments adjustments. Therefore, the detail shown does not always sum to
the values shown for the area aggregates. For all years, "Asia" and "Africa" exclude certain Pacific Islands and unidentified
countries included in "Other countries in Asia and Africa."
9.lncludes the former German Democratic Republic (East Germany) beginning in fourth quarter of 1990. In earlier
periods, the German Democratic Republic was included in Eastern Europe.
10. Beginning in 1986, New Zealand and South Africa are included in "Other countries in Asia and Africa," with New
Zealand included as part of "Asia" and South Africa as part of "Africa."
11. Includes nuclear fuel materials and fuels.
Table 3:
1. Patented techniques, processes, and formulas and other intangible property rights that are used in goods production.
2. Copyrights, trademarks, franchises, rights to broadcast live events, and other intangible property rights.
3. Other unaffiliated services receipts (exports) include mainly expenditures of foreign governments and international
organizations in the United States. Payments (imports) include mainly wages of foreign residents temporarily employed in
the United States and Canadian and Mexican commuters in U.S. border areas.
Table 4:
1. Expenditures to release foreign governments from their contractual liabilities to pay for military goods and services
purchased through military sales contracts—first authorized (for Israel) under Public Law 93-199, section 4, and subsequently authorized (for many recipients) under similar legislation—are included in line A3. Deliveries against these military
sales contracts are included in line C10; see footnote 2. Of the line A3 items, part of these military expenditures is applied
in lines A40 and A43 to reduce short-term assets previously recorded in lines A38 and C8; this application of funds is
excluded from lines C3 and C4. A second part of line A3 expenditures finances future deliveries under military sales
contracts for the recipient countries and is applied directly to lines A39 and C9. A third part of line A3, disbursed directly to
finance purchases by recipient countries from commercial suppliers in the United States, is included in line A34. A fourth
part of line A3, representing dollars paid to the recipient countries to finance purchases from countries other than the United
States, is included in line A45.
2. Transactions under military sales contracts are those in which the Department of Defense sells and transfers
military goods and services to a foreign purchaser, on a cash or credit basis. Purchases by foreigners directly from
commercial suppliers are not included as transactions under military sales contracts. The entries for the several categories
of transactions related to military sales contracts in this and other tables are partly estimated from incomplete data.
3. The identification of transactions involving direct dollar outflows from the United States is made in reports by each
operating agency.
4. Line A35 includes foreign currency collected as interest and line A40 includes foreign currency collected as principal,
as recorded in lines A13 and A14, respectively.
5. Includes (a) advance payments to the Department of Defense (on military sales contracts) financed by loans
extended to foreigners by U.S. Government agencies and (b) the contraentry for the part of line C10 that was delivered
without prepayment by the foreign purchaser. Also includes expenditures of appropriations available to release foreign
purchasers from liability to make repayment.
6. Includes purchases of loans from U.S. banks and exporters and payments by the U.S. Government under commercial
export credit and investment guarantee programs.
7. Excludes liabilities associated with military sales contracts financed by U.S. Government grants and credits and
included in line C2.
Table 5:
1. Beginning with 1991, payments and receipts of interest related to interest rate and foreign currency swaps between
affiliates and parents are netted and are shown as either net payments or net receipts. Receipts and payments of other
types of interest are shown on a gross basis.
2. Petroleum includes, and manufacturing and "other" industries exclude, the exploration, development, and production
of crude oil and gas, and the transportation, refining, and marketing of petroleum products, exclusive of petrochemicals.
"Other" industries includes wholesale trade; banking; finance (except banking), insurance, and real estate; services; and
other industries—agriculture, forestry, and fishing; mining; construction; transportation, communication, and public utilities;
and retail trade.
3. Acquisition of equity holdings in existing and newly established companies, capital contributions, capitalization of
intercompany debt, and other equity contributions.
4. Sales (total and partial), liquidations, returns of capital contributions, and other dispositions of equity holdings.
Tabled
1. Primarily provincial, regional, and municipal.
2. Largely transactions by International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Asian Development Bank (ADB), and Inter-American
Development Bank (IDB).
3. Estimate for scheduled redemptions and identifiable early retirements. Includes estimates based on Canadian
statistics for redemptions of Canadian issues held in the United States. Unidentified and nonscheduled retirements appear
in line A30.
Table 7.°
1. Estimates of transactions other than those with U.S. banks' Caribbean branches are not available.
2. Deposits (line A5) include other financial claims (line A6) for some countries due to the commingling of these
categories in foreign source data.
3. Primarily mortgages, loans, and bills and notes drawn on foreigners.
4. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
5. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.
6. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries. Beginning
in January 1993, excludes Ecuador.
TableS:
1. Includes central governments and their agencies and corporations; state, provincial, and local governments and
their agencies and corporations; and international and regional organizations.
2. U.S.-owned banks are mainly U.S.-chartered banks and Edge Act subsidiaries. U.S. brokers' and dealers' accounts
may be commingled in some categories. Foreign-owned banks include U.S. branches and agencies of foreign banks and
majority-owned bank subsidiaries in the United States.
3. Commercial paper issued in the U.S. market by foreign incorporated entities; excludes commercial paper issued
through foreign direct investment affiliates in the United States.
4. Negotiable and readily transferable instruments other than commercial paper, payable in dollars; consists largely of
negotiable certificates of deposit.
5. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
6. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.
7. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries. Beginning
in January 1993, excludes Ecuador.
8. Includes Eastern Europe and international and regional organizations.
Table 9:
1. Negotiable certificates of deposit issued by banks in the United States are included in banks' custody liabilities and
are separately identified in memorandum line 8. Nonnegotiable certificates of deposit are included in time deposits.
2. Includes borrowing under Federal funds or repurchase arrangements, deferred credits, and liabilities other than
deposits.
3. Mainly negotiable and readily transferable instruments, excluding U.S. Treasury securities.
4. Mainly International Bank for Reconstruction and Development (IBRD), International Development Association
(IDA), International Finance Corporation (IFC), Asian Development Bank (ADB), Inter-American Development Bank (IDB),
and the Trust Fund of the International Monetary Fund.
5. U.S.-owned banks are mainly U.S.-chartered banks and Edge Act subsidiaries. U.S. brokers' and dealers' liabilities
may be commingled in some categories. Foreign-owned banks are U.S. branches and agencies of foreign banks and
majority-owned bank subsidiaries in the United States.
6. U.S. currency flows are not included, because no geographic data are available.
7. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
8. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.
9. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries. Beginning
in January 1993, excludes Ecuador,
10. Includes Eastern Europe and international and regional organizations.
Table 10: For footnotes 1-13, see table 1.
14. The "European Union" includes the "European Union (6)," United Kingdom, Denmark, Ireland, Greece, Spain, and
Portugal. Beginning with the first quarter of 1995, the 'European Union' also includes Austria, Finland, and Sweden.
15. The "European Union (6)" includes Belgium, France, Germany (includes the former German Democratic Republic
(East Germany) beginning in the fourth quarter of 1990), Italy, Luxembourg, Netherlands, European Atomic Energy
Community, European Coal and Steel Community, and European Investment Bank.
16. Includes, as part of international and unallocated, the estimated direct investment in foreign affiliates engaged in
international shipping, in operating oil and gas drilling equipment internationally, and in petroleum trading. Also includes
taxes withheld; current-cost adjustments associated with U.S. and foreign direct investment; small transactions in business
services that are not reported by country; and net U.S. currency flows, for which geographic source data are not available.
17. Details not shown separately; see totals in lines 49 and 56.
18. Details not shown separately are included in line 61.
SURVEY OF CURRENT BUSINESS
28 • January 1998
Table 10.—U.S. Internationa!
[Millions
European Union 14
Western Europe
(Credits +; debits-)1
Line
1996
3
4
5
6
7
8
9
10
11
12
13
14
I
1996
II'
III*
II
III
305,718
76,988
73,448
80,959
82,285
85,940
84,666
275,794
69,424
66,287
137,194
36,075
30,568
35,621
38,645
39,866
35,404
124,786
32,501
27,890
80,819
3,451
19,591
1,175
22,123
879
21,287
859
19,651
934
21,070
879
24,110
928
72,288
2,334
17,644
995
19,826
477
Travel
Passenger fares
Other transportation
22,166
6,804
7,703
5,482
1,529
1,927
7,091
2,274
1,870
5,427
1,621
2,062
4,678
1,448
1,942
5,896
1,728
2,002
7,689
2,448
2,107
20,092
6,443
6,113
5,010
1,451
1,478
6,484
2,164
1,516
Royalties and license fees5
Other private services5
U.S. Government miscellaneous services
15,522
25,007
167
3,622
5,807
49
3,717
6,256
36
4,441
6,840
37
3,711
6,896
42
3,540
6,990
35
3,594
7,303
41
14,804
22,357
145
3,451
5,214
45
3,554
5,599
32
87,705
45,686
40,948
1,071
21,322
11,274
9,856
192
20,757
10,104
10,331
322
24,051
12,891
10,956
204
23,990
12,013
11,695
282
25,004
12,442
12,392
170
25,152
11,931
12,946
275
78,720
39,496
38,298
926
19,279
9,868
9,243
168
18,571
8,646
9,655
270
1 Exports of goods services and income
2
1997
IV
III
II
Goods adjusted excluding military2
3
Services
Transfers under U.S. military agency sales contracts4
Income receipts on U S assets abroad
Other private receipts
U S Government receipts
15
Imports of goods services and income
-324,755
-83,768
-83,307
-B2.791
-83,405
-94,876
-94,109
-293,572
-74,890
-75,382
16
Goods adjusted excluding military2
-161,629
-41,986
-39,823
-41,720
-40,901
-45,115
-42,971
-146,293
-37,553
-36,204
-61,827
-7,043
-16,581
-1,748
-16,982
-1,801
-14,829
-1,769
-14,442
-1,780
-17,876
-1,594
-18,784
-1,700
-54,592
-5,678
-14,421
-1,322
-15,126
-1,437
-4,989
-2,119
-1,936
17
18
Direct defense expenditures
19
20
21
Travel
Passenger fares
Other transportation
-16,738
-7,863
-9,527
-5,189
-2,224
-2,478
-5,334
-2,343
-2,386
-3,254
-1,694
-2,482
-3,057
-1,752
-2,456
-5,609
-2,338
-2,683
-5,911
-2,529
-2,741
-15,573
-7,102
-7,545
-4,749
-1,999
-1,878
22
23
24
Other private services5
U S Government miscellaneous services
-4,543
-14,903
-1,210
-1,080
-3,577
-1,137
-3,666
-1,282
-4,039
-1,213
-3,890
-1,196
-4,168
-1,289
-4,324
-909
-946
-3,422
-315
-309
-293
-288
-290
-3,820
-13,812
-1,061
-3,313
-285
-101,299
-25,805
-48,444
-27,050
-25,201
-7,066
-11,857
-€,278
-32,354
-8,056
-14,827
-9,471
-92,688
-23,311
-45,539
-23,838
-22,916
-6,276
-11,155
-5,485
-50
1,230
323
316
-37
-32
25
26
27
28
29
30
31
32
33
.
Income payments on foreign assets in the United States
Other private payments
360
Unilateral transfers net
U.S. Government grants4
-476
-1,259
2,095
Private remittances and other transfers6
-171,397
U S assets abroad net (increase/capital outflow (-))
34
35
36
37
38
US official reserve assets net7
Gold
Special drawing rights
39
40
41
42
U.S. Government assets, other than official reserve assets, net
U S credits and other long-term assets
Repayments on U S credits and other long-term assets 8
U.S. foreign currency holdings and U.S. short-term assets, net
43
44
45
46
47
U.S. private assets, net
Direct investment
»«
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. claims reported by U.S. banks, not included elsewhere
48
-649
Foreign currencies
. . .
-649
Foreign assets in the United States, net (increase/capital inflow (+))
49
50
51
52
53
54
55
Foreign official assets in the United States, net
U S Government securities9
U.S. Treasury securities
Other 10
Other US Government liabilities11
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets 12
56
57
58
59
60
61
Other foreign assets in the United States net
Direct investment
U S Treasury securities and U S currency
flows
.
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. liabilities reported by U.S. banks, not included elsewhere
62
Allocations of special drawing rights
63
Statistical discrepancy, and transfers of funds between foreign areas, net (sum of above items with
sign reversed)
Memoranda:
.. ...
..
64 Balance on goods (lines 2 and 1 6)
65 Balance on services (lines 3 and 17)
66 Balance on goods and services (lines 64 and 65)
67 Balance on investment income (lines 11 and 25)
13
68 Balance on goods, services, and income (lines 1 and 15 or lines 66 and 67)
69 Unilateral transfers net (line 29)
13
70 Balance on current account (lines 1,15, and 29 or lines 68 and 69)
See footnotes on page 27.
..
63
571
525
497
428
527
457
-97
-1,049
2,376
-27,375
-51,036
-54,530
-83,486
-21,851
-41,951
-154,604
-70
-303
-167
-316
-217
-326
-102
-281
-134
-330
-201
-306
-273
-277
-24,053
-6,386
-11,441
-6,226
-256
633
604
-19,823
-47,230
154
-482
-109
-196
-139
-142
-609
-457
104
154
-482
-109
-196
-139
-142
-609
-457
104
369
15
223
-28
-171,074
-43,470
-57,674
-29,176
-40,754
-27,401
-16,532
-9,210
5,818
-7,477
-50,797
1,498
-17,172
-10,293
-24,830
-54,510
-16,224
-20,361
-10,063
-7,862
-83,447
-12,590
-3,366
-16,678
-50,813
290,120
67,697
78,202
77,314
111,398
85,754
110,212
29,32(
5,105
2,992
3,150
11,034
1,172
I
P
396
(77
I
. . . . . .
45
-31,885
-8,578
-14,475
-8,832
53
-23
«« •
«
-46
-28,063
-6,311
-13,688
-8,064
933
-44
-563
. . . . . . .
42
-26,242
-5,809
-12,863
-7,570
157
-86
255
-12
326
.
198
-26,503
-7,255
-12,197
-7,051
-252
-128
-158
P
(
"
(17
243
-141
89
-106
!J
|:
(
('
-112
109
-14
260,800
59,640
(17
80,868
28,281
(17
62,592
20,650
d7
16,581
6,266
(17
75,210
15,129
(17
23,929
10,408
(17
74,164
11,841
100,364
26,390
16,87;
1,500
(17
30,948
12,825
(17
-100,047
-33,740
-17,349
-20,906
-24,435
18,993
-5,442
-13,594
-19,036
360
-18,676
-5,911
3,010
-2,901
•4,879
-6,780
198
-6,582
-9,255
5,141
-4,114
-5,746
-9,860
42
-9,81
-6,099
6,458
359
-2,19
-1,832
-4
-1,878
(17
198
-71
274
-5
-21,695 -42,007
-22,885 -10,479
4,773 -19,674
-5,269
1,686 "-li"854
(
£'( .
17
17
-17
7
20<
2&
!
84,582
14,755
(17
32,525
109,816
12979
(17
222
506
-37
-96
-81
14
-29
185
-16
181
20
-154,217
-38,973
-54,498
-28,199
-32,547
-19,270
-15,996
-7,841
6,285
-1,718
-47,519
2,804
-16,830
-8,926
-24,567
284,192
64,932
70,351
-247
(18
(18
(18
(18
(18
(18
(18
n
(18)
I! 8
i:
-329
(18)
(18)
(18
(18)
59,898
(18
20,120
14,836
15,896
6,581
18
22,664
21,858
10,625
18
22,895
(18
(18)
(17
F
77,157
28,090
18
119,003
-26,837
-55,030
-58,768
-113,039
-39,966
-14,341
-2,256
5,209
2,953
-4,073
-1,120
45
-1,075
-5,249
3,194
-2,055
-6,881
-8,936
63
-8,873
-7,567
5,326
-2,24
-7,202
-9,44
-5
-9,49
-21,507
17,69
-3,81
-13,96
-17,77
-5,052
3,223
-1,829
-3,63
-5,46
32
-5,143
-8,314
4,700
-3,614
-5,481
-9,095
316
-8,779
-368
38,295
1,23
-16,54
SURVEY OF CURRENT BUSINESS
January 1998 • 2p
Transactions, by Area
of dollars]
European Union 14
1996
European Union (6) 15
United Kingdom
1997
1996
1997
II '
III*
Line
1997
1996
1QQR
isyo
1996
I
IV
II
III
IV
I
II -
III*
II
I
IV
III
II'
III*
72,927
74,107
76,451
76,476
82,363
21,530
20,235
21,359
23,784
24,050
23,597
148,524
36,781
35,257
39,566
38,711
40,599
41,155
1
32,732
35,089
35,147
32,449
30,246
9,025
6,954
6,992
9,554
9,327
8,149
75,231
18,720
16,829
20,404
20,391
20,776
19,722
2
18,779
17,350
18,686
21,434
20,916
5,122
5,598
5,575
5,347
5,673
6,393
10,470
9,635
8,859
9,613
11,386
566
487
533
393
147
79
72
213
108
105
37,642
1,051
9,257
456
576
163
171
150
109
181
3
4
4,816
1,518
1,614
4,247
1,375
1,557
5,388
1,639
1,593
7,031
2,329
1,684
7,306
1,645
1,433
1,881
2,194
1,804
1,602
2,023
2,379
527
353
441
397
358
458
379
423
566
434
9,654
3,815
2,727
2,358
336
356
3,338
1,319
2,536
1,008
3,620
1,421
715
757
4,231
6,113
3,542
6,026
3,355
6,194
3,405
6,417
2,665
7,433
625
612
842
625
630
706
1,767
1,822
2,008
2,079
2,099
2,191
8,832
11,486
2,048
2,685
10
11
11
12
11
12
77
24
16
7,383
3,269
4,114
7,683
3,320
4,363
8,793
4,025
4,740
8,883
3,795
5,088
9,050
3,537
5,513
9,055
3,163
5,892
35,652
20,076
14,913
8,804
5,013
3,635
7,958
4,014
3,780
31
37
30
35
41
21,416
11,061
10,178
21,668
10,583
10,843
22,618
10,967
11,506
22,593
10,328
12,034
31,201
13,862
17,311
892
674
2,233
1,937
724
822
691
821
687
2,025
2,884
2,538
3,165
2,162
3,086
2,014
3,217
2,087
3,303
15
15
14
17
9,527
5,476
3,914
9,462
5,184
4,137
10,210
5,783
4,295
10,047
5,557
4,354
5
6
7
8
9
10
177
242
145
231
28
663
156
164
137
141
132
136
11
12
13
14
-75,489
-75,539
-86,504
-65,845
-102,700
-25,669
-25,806
-27,662
-28,874
-31,843
-31,997
-150,141
-38,989
-39,217
-37,311
-36,856
-42,988
-41,993
15
-37,940
-37,268
-41,220
-39,192
-28,832
-7,381
-7,012
-7,743
-7,578
-7,949
-8,100
-92,727
-23,918
-23,171
-23,647
-23,637
-26,620
-24,612
16
-13,040
-1,465
-12,697
-1,415
-15,744
-1,263
-16,739
-1,350
-17,658
-4,649
-4,787
-4,297
-4,671
-5,438
-5,836
-437
-108
-111
-29,012
-4,742
-7,610
-1,127
-8,096
-1,202
-6,883
-1,217
-6,567
-1,168
-7,937
-1,044
-8,337
-1,100
17
18
-3,054
-1,526
-1,932
-2,871
-1,593
-1,932
-5,133
-2,102
-2,062
-5,529
-2,287
-2,136
-4,790
-2,844
-1,646
-1,341
-1,421
-2,669
-1,509
-1,554
-2,738
-2,959
-854
-430
-6,216
-2,946
-3,863
-2,533
-853
-787
-980
-679
-967
-828
-920
-1,045
-1,002
-1,026
19
20
21
-1,083
-3,710
-1,035
-3,599
-995
-1,108
-4,080
-1,875
-5,974
-474
-443
-532
-511
-474
-544
^3,942
-1,457
-1,501
-1,602
-1,785
-1,946
-2,091
-269
-252
-247
-249
-92
-22
-27
-22
-23
-23
-23
-24,509
-5,645
-12,085
-6,779
-25,574
-5,521
-12,762
-7,291
28
^395
-79
-1,040
-136
-132
-100
-1,020
-1,450
-1,575
-563
-459
-631
-565
-899
-514
-925
-578
-690
-960
-851
-1,740
-6,702
-386
-456
-483
-465
-454
-467
-1,606
-1,662
-1,823
-1,547
-1,687
-1,679
-803
-191
-211
-201
-186
-184
-186
22
23
24
-29,540
-7,951
-13,523
-6,066
-29,914
-7,311
-13,861
-8,742
-56,210
-9,220
-34,129
-12,861
-13,639
-2,399
-8,327
-2,913
-14,007
-1,997
-8,575
-3,435
-15,622
-2,635
-9,180
-3,807
-16,626
-2,666
-9,776
-4,184
-18,456
-3,247
-10,345
-4,864
-18,061
-2,422
-10,477
-5,162
-28,402
-12,155
-9,406
-6,841
-7,461
-3,472
-2,324
-1,665
-7,950
-3,815
-2,383
-1,752
-6,782
-2,550
-2,405
-1,827
-6,652
-2,344
-2,429
-1,879
-8,431
-3,964
-2,570
-1,897
-9,044
-4,060
-2,791
-2,193
25
26
27
28
268
1,206
322
330
265
350
374
390
809
208
190
209
87
110
67
29
-178
282
243
288
-24
-17
-11
509
581
535
1,384
-46
368
-43
373
-44
309
-44
556
394
-48
422
-44
434
1,408
361
340
353
231
267
219
30
31
32
-46,360
-75,870
-20,810
-28,853
-92,218
-8,483
-27,498
-35,549
-34,277
-14,108
-11,745
-56,708
-14,191
-15,032
-10,768
-31,031
-3,431
-249
-250
-457
-457
-282
-267
12
-227
189
12
-227
189
3
127
125
3
3
125
2
-8,486
-11,322
-2,157
3,136
1,857
-27,498
4,158
-11,645
-3,935
-16,076
-35,676
-11,666
-17,700
-6,996
-2"490
-92,346
-18,310
-37,776
-18,418
-17,842
103,883
187,456
34,865
48,768
48
-59
140
-33
141
-35
188
-12
-62
-51
4
-15
170
-35
204
1
128
-45,951
-15,076
-19,298
-11,269
-20,521
-21,951
4,397
-6,152
2,185
-29,212
-6,504
-20,218
-308
-76,023
-11,023
-2,135
-16,590
-46,275
73,962
103,122
84,121
(18)
(18)
18)
18
18)
18
18)
18
18)
18
50
(18)
(18)
(18)
s
94
(18)
337
(18)
R
(18)
(.8)
(18)
9,871
24,223
12349
5,920
18,929
18)
(18)
'(18)
16,704
1,232
46,005
29,431
12,560
36,814
18
30,234
(18)
38,335
-386
18
41 ,767
'"1859"291
18
58,933
26,082
83,500
4
-11,745
2,019
-19,868
686
-14,112
-14,312
1,663
-5,037
3,574
65,058
80,358
40,075
(18)
(18)
(18)
(18)
(18)
(18)
(18)
.8)
(18)
(18)
R
(18)
(18)
(18)
(18)
18
-12
7
-77
-32
R
(18)
(18)
(18)
-406
(18)
18
10,582
7,540
17,131
R
(18)
18
-153
(18)
-457
104
-457
-609
-457
104
-457
21
-32
-144
-35
-16,139
33
-227
189
12
-227
189
34
35
36
37
38
-32
21
-35
-8
-17
1
-15,157
-2,762
-4,446
-4,153
-3,796
-10,276
-1,948
-2,587
-4,460
-1,281
-31,035
-6,631
1,504
-7,145
-18,763
-3,187
-6,722
1,111
1,708
-16,329
-7,457
Tl 04
-13,702
-1,632
-5,404
2,649
-9,315
716
^8,676
43
44
45
46
47
57,025
66,972
24,279
12,028
6,598
11,978
42,247
37,090
48
(18)
(18)
(18)
(18)
(.8)
(18)
(18)
S
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
S
(18)
-379
-290
R
(18)
(18)
63
(18)
(18)
(18)
(18)
R
R
(18)
53
76
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
8,385
13,684
1,488
1,420
40,099
17,707
10,164
(18)
(18)
(18)
(18)
2,863
10,138
(18)
(18)
(18)
18
21,470
11,576
33,705
21,027
24,361
17,180
3,927
14503
412
18
1319
18
39
40
41
42
-38
(18)
17,220
1,329
38,117
1
-17
-8
(18)
18
-152
12
6,218
16,850
9,366
16,346
-157
-56,061
-14,984
-13,889
-11,184
-16,004
5
(18)
-144
-150
-609
-38
-5
R
(18)
4
-5
-34,272
-2,446
-2,013
-8,552
-21,261
!sj
12
157
(18)
18
R
(s)
R
R
-599
31 ,238
18
10,841
4,547
-885
18
3,909
18
-1,243
18
4,863
18
713
-4,952
R
n
106
80
R
(18)
(18)
(18)
6,003
62
961
-3,707
-796
12,307
60
61
(18)
-914
18
54
55
21 ,581
3,122
'(18)
24,387
52
53
56
57
58
59
11037
7,631
18
49
50
51
62
-25,323
-26,062
-53,546
-65,929
-76,108
-22,564
-16,030
-23,472
-5,208
5,739
-6,073
2,942
-3,131
-6,922
-10,053
-6,743
4,695
-2,048
-7,321
-9,369
-58
811
753
1,278
677
235
2,117
-6,256
-4,140
527
-6,324
-5,571
-6,829
-6,303
2,653
-7,743
-5,090
1,613
-9,406
-7,793
282
243
288
268
322
330
265
350
374
-2,280
-1,190
-9,765
-9,101
1,414
3,258
4,672
-25,009
-20,337
1,206
-19,131
1,644
-3,093
-2,562
-2,179
4,653
2,474
-3,906
-1,433
-3,818
-5,241
-6,038
-4,740
-7,419
-8,010
531
473
-751
-41,341
-18,548
-37,270
-9,456
-8,088
6,775
1,706
17,111
-36,537
-20,180
63
1,976
1,378
49
557
606
-5,198
1,647
-3,551
1,342
-2,209
-6,342
2,374
-3,968
-3,243
2,752
-3,246
2,292
-491
-954
-5,844
1,676
-4,168
-9,006
-8,400
-17,496
8,629
-8,867
7,250
-1,617
8
2,809
1,855
1779
-3,960
2,746
2,255
-4,890
3,049
-1,841
1,003
-2,389
-638
390
809
208
190
209
87
110
-2,001
-3,770
2,464
1,942
-2,279
64
65
66
67
68
69
70
-608
67
-771
SURVEY OF CURRENT BUSINESS
30 • January 1998
Table 10.—U.S. International
[Millions
Eas tern Europe
(Credits +; debits -) >
Line
Canada
19"36
1997
1996
1996
1 Exports of goods services, and income
1996
II
III
12,028
2,702
IV
I
II'
3,101
3,199
3,108
3,403
3,205
172,286
43,816
41949
2110
II
\\\r
III
2
Goods adjusted excluding military2
7359
1 634
1 788
2004
1 811
1 749
134609
34378
32353
3
4
Services3
Transfers under U S military agency sales contracts4
3548
477
843
115
1 012
208
899
87
881
96
846
80
943
61
20181
166
5164
39
4953
21
842
100
474
211
20
113
270
28
93
207
35
148
173
20
99
227
22
97
293
30
94
6763
2889
1 819
348
732
1 628
289
729
127
1,485
42
30
344
10
35
371
7
38
373
11
42
442
9
36
374
10
33
422
10
1,416
7,552
63
359
1,853
14
381
1,889
16
1,122
497
348
277
225
101
88
36
301
147
77
77
296
143
89
64
416
247
100
69
447
302
109
36
513
262
133
118
17,497
8,642
8,855
4,275
2,072
2,203
4,643
2,385
2258
5
6
7
8
g
10
Travel
Other transportation
Royalties and license fees5
Other private services5
U.S. Government miscellaneous services
1331
11
12
13
14
Income receipts on U.S. assets abroad
Direct investment receipts
15
Imports of goods services and income
-10 897
-2,686
-2,859
-3133
-2792
-3108
-3600
-182 614
-47062
-45954
16
Goods adjusted excluding military2
-7003
-1679
-1766
-2182
-1864
-2009
-2323
-158640
-40971
-38910
17
18
Services3
Direct defense expenditures
-2,612
-694
-783
-611
-114
-580
-722
-845
-100
-13967
-47
-3,610
-12
-4425
-12
-190
-212
-420
-4,606
-1,215
-2,050
-391
-105
-918
-131
-907
-37
-1 301
-23
-53
-1,240
-32
-2,481
-2,619
U S Government receipts
19
20
21
Travel
Passenger fares
Other transportation
22
23
24
Royalties and license fees5
Other private services 5
U S Government miscellaneous services
25
26
27
28
..
-309
-1,087
-276
-309
Income payments on foreign assets in the United States
Direct investment payments
33
U S Government grants 4
U.S. Government pensions and other transfers
Private remittances and other transfers6
U.S. assets abroad, net (increase/capital outflow (-))
34
35
36
37
38
US official reserve assets net7
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U.S. Government assets, other than official reserve assets, net
U S credits and other long-term assets
Repayments on U S credits and other long-term assets8
U o foreign currency holdings and U S short-term assets net . . .
43
44
45
46
47
U.S. private assets, net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. claims reported by U.S. banks, not included elsewhere
48
-62
-1,282
-1
Foreign official assets in the United States, net
U.S. Government securities 9
U.S. Treasury
securities
Other 10
Other U.S. Government liabilities11
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets12
56
57
58
59
60
61
Other foreign assets in the United States, net ..
Direct investment
U.S. Treasury securities and U.S. currency flows
U.S. securities other than U.S. Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. liabilities reported by U.S. banks, not included elsewhere
62
Allocations of special drawing rights
63
Statistical discrepancy, and transfers of funds between foreign areas, net (sum of above items with
sign reversed)
Memoranda:
64 Balance on goods (lines 2 and 16)
65 Balance on services (lines 3 and 17)
See footnotes on page 27.
-313
-379
-91
-72
-89
-70
-2
-2
-137
-138
-20
-16
-313
-49
-97
-4
-147
-10
-1
-151
-15
-687
-771
-420
-292
-359
-433
-1,972
-36
-1 275
-474
-€18
n
-9
-348
-3
-99
-9
5
-99
-10
-318
-330
-2,607
-835
-3,738
1,044
-122
-132
-29
-52
8
15
38
-19
27
30
-118
11
-28
27
12
-328
156
-1,272
-717
-255
-769
-195
-5
1,125
3,467
-2,076
FJ
P
76
(18
(18
(18
169
(
18
l
-44
3,179
2,501
356
936
-16
1,13
-3283
-2152
-366
-226
-31
g
-96
141
1,057
-2,612
-748
-1,055
4,777
1,180
(8)
I( I! i? 13
73
\'
(18
(8
(18
32
<33
-78
18
-2,117
(~8
114
(18
( 8)
-22
i«!
5B
(18
-217
(18
-3,832
-4,054
7
4
2
1
4
2
-3,836
429
-4,056
-3002
-103
1904
28
^,189
3,171
-6,129
4,269
5,254
1,829
(17
430
I!
A
18
18
18
18
32
p
(18
F>
P
155
22,818
5670
73
189
-47 •••—£
18
3,606
6,058
765
(17
(
75
(18
-4360
-45
149
104
-88
17
22
229
25
-10
242
-53
301
248
68
315
101
124
225
70
295
-653
-338
11
-25,200
24,647
2896
-737
-672
-101
32
1,690
-3271
-925
-683
-103
-687
-392
-90
70
3,708
2,972
-79
-602
-71
-i"667
2,739
-807
-910
-1 107
-578
-368
-577
12
-1,268
288
110
-45
66
-408
-822
-1081
-31
2,243
-33
33
18
1,41 9
-178
-10,007
-3285
-4429
-2,293
-578
-577
-44
49
18
4,717
18
-101
-25,207
-6875
-6324
-1,248
-10,760
(18)
(
£
-3,749
-607
-192
-5022
-220
225
-633
(l
-13
315
-85
38
-2,954
-47
ii
-8
-352
-1,234
-3,607
-338
-308
127
98
-1,567
8
-298
-3,816
-421
-15
-653
-925
-3,694
-1 804
-2
-146
-737
-807
47
-37
-96
-66
-283
-3,283
-9
-14
-96
-70
-246
-216
-9
-2
-142
-338
-119
-321
-220
-324
-52
-80
-51
-432
-107
-234
-1
-93
(*)
-93
-79
-377
-341
-410
-871
1292
Balance on investment income (lines 1 1 and 25)
Balance on goods, services, and income (lines 1 and 15 or lines 66 and 67) 13
Unilateral transfers net (line 29)
Balance on current account (lines 1 15 and 29 or lines 68 and 69) 13
-89
^310
Foreign assets in the United States, net (increase/capital Inflow (+))
49
50
51
52
53
54
55
66
67
68
69
70
-561
U S Government payments
29
30
31
32
-8
.. ..
-59
(18
2083
-574
g
-47
8
-39
-77
-1 166
(17
11 219
-24,03
621
-1781
749
-10,32
-33
-1066
P
(17
26
(17
(17
4,824
422
(17
1,146
-318
86
17\
17
)
17)
-15
(1?)
(17)
4,183
3 127
17
( )
965
335
(17
17^
1895
3880
-6,593
1 553
-5040
1 794
-3,24
_7
-6,557
528
-6029
2024
-4,005
-90
-4095
-331
SURVEY OF CURRENT BUSINESS
January 1998
Transactions, by Area—Continued
of dollars]
Latin America and Other Western Hemisphere
Canada
1997
1996
Japan
1997
1996
1996
1996
IV
1
IK
III"
Line
1997
1996
II
III
IV
I
IK
III'7
II
III
IV
I
IK
III'
44,070
47,188
49,685
47,024
191,974
46,431
49,552
51,614
51,153
55,830
60,431
111,326
27,204
28,128
27,407
28,710
28,385
28,675
1
34,674
36,823
39,042
36,795
108,864
26,460
27,718
30,000
29,516
32,425
34,444
65,954
16,476
16,131
16,181
16,448
16,557
15,702
2
4,754
5,448
5,392
5,011
34,694
8,103
9,413
9,173
8,905
9,046
10,671
35,907
8,506
9,619
8,856
9,753
24
22
23
475
131
96
99
114
95
110
564
193
131
96
156
9,5 66
98
10,689
18
3
4
1,359
1,954
1,907
1,601
226
754
3,833
1,028
3,551
307
768
4,135
1,119
3,543
327
726
14,379
3,933
3,438
3,289
327
732
993
930
13,163
6,174
3,205
3,015
1,440
3,832
1,695
3,214
1,380
3,486
1,743
3,243
1,627
4,157
1,829
897
979
849
4,527
1,226
883
793
792
846
774
796
806
878
867
981
130
365
343
329
351
344
396
362
390
408
2,056
2,043
2,052
1,401
10,922
346
1,936
2,562
2,805
2,887
3,019
3,050
3,381
5,484
7,227
1,364
1,696
1,354
1,803
1,406
1,886
1,445
2,135
1,573
1,919
1,552
2,204
17
17
16
4
146
29
31
33
39
37
38
89
5
13
28
14
10
11
4,642
2,360
2,282
4,917
2,581
2,336
5,251
2,793
2,458
5,218
2,747
2,471
48,417
17,404
29,680
1,333
11,868
4,353
7,204
12,421
4,442
7,498
12,441
4,445
7,842
12,732
4,192
8,401
14,359
5,450
8,841
15,316
5,634
9,562
9,466
3,950
5,449
2,222
2,378
1,033
1,334
2,370
1,418
2,509
1,103
1,399
2,562
1,148
1,392
2,284
1,331
311
481
154
139
68
120
67
23
11
6
7
22
5
6
7
8
9
10
-1
11
12
13
14
-46,150
-47,506
-50,077
-48,781
-194,558
-48,545
^9,691
-51,207
-51,733
-54,841
-56,425
-157,101
-38,041
-39,617
-41,364
-41,415
-41,837
-44,334
15
-40,678
-42,004
-43,383
-41,319
-124,933
-31,405
-32,039
-33,372
-32,831
-34,925
-36,046
-115,167
-27,953
-28,434
-30,012
-30,096
-29,317
-30,803
16
-3,143
-3,009
-3,781
-4,659
-30,929
-7,686
-7,888
-7,826
-8,081
-8,362
-8,723
-3,577
-3,557
-3,567
-3,548
-3,754
-3,948
-11
-18
-14
-15
-296
-227
-267
-257
-293
-275
17
18
-818
-174
-783
-160
-865
-182
-907
-189
-1,057
-790
-190
-982
-1,018
-1,128
-326
-978
-619
-756
-91
-82
-925
-911
-1,270
-2,126
-121
-965
-145
-935
-56
-59
-70
-76
-1,290
-1,275
-1,308
-1,329
-28
-32
-33
-33
-2,329
-2,493
-2,913
-2,803
-578
-€85
-983
-961
-1,189
-1,279
-1,380
-1*77
-529
-550
-562
-78
-161
23
-13,065
-102
-74
-113
-129
-79
-85
-83
-85
-14,392
-1,050
-3,484
-3,428
-3,426
-3,713
-3,708
-3,737
-3,166
-562
-592
-€15
-582
-€11
-522
-742
-589
-617
-672
-689
-€59
-679
-800
-172
^,340
-1,057
-1,134
-1,398
-3,662
-318
-910
-311
-869
-458
-13,850
-2,426
-2,241
-42
-49
-26
-28
-37
-38
-2,796
-2,984
-3,057
-2,815
-3,134
-3,404
-101
-106
-110
-111
-111
-144
-11,409
-97
-401
-9,454
-9,764
-J586
-10,008
^36
-477
-454
-565
-38,697
-1,557
-28,438
-8,702
-7,018
-2,000
-7,120
-2,258
-7,324
-2,435
-7,668
-2,802
-8,240
-2,837
-8,491
-2,711
-102
-10,423
-2,543
-2,687
-2,685
-2,627
-2,700
-2,785
-1,433
-384
-370
-185
-276
-140
-342
-161
-302
-144
19
20
21
-323
-374
-1,049
-1,051
-98
-24
-24
-25
-24
-24
-24
22
23
24
-27,541
-3,106
-6,188
-18,247
-6,511
-7,626
-1,387
-1,522
-4,717
-7,786
-1,325
-1,526
-4,935
-7,771
-1,016
-1,610
-5,145
-8,766
-1,530
-4,410
-1,758
-5,600
-9,583
-2,077
-1,680
-5,826
25
26
27
28
-10
-41
-11
-66
-25
-11
29
-571
-121
-318
-956
-V108
-€60
^86
-22
-21
-21
-22
-8,330
-2,032
-2,134
-2,130
-2,211
-2,197
-2,339
^35
12
-20
10
-44
.
-23
-2
-21
9
10
30
31
32
-12,332
-5,131
7,117
-76,268
-5,126
-17,778
-45,953
-13,440
-40,996
-58,458
-5,729
1,482
-li'T
-1
-1 69
7,000
118
14,461
-6,800
-9,427
-5,093
7,813
-7,503
90,776
6,468
20,583
66,402
7,023
-1,430
546
(18)
(18)
(18)
(18)
(18)
8)
(18)
(18)
(18)
(18)
(18)
(.8)
(18)
(18)
R
58
11
3,906
3
682
(17)
R
-10
a
§
9,243
3,509
&
(18)
(18)
577
3
n
(18)
(18)
(18)
(18)
(18)
459
131
-2,927
542
(18)
255
(18)
629
-386
7
64,628
18
4,650
18
8,153
7,657
-2,623
-11,820
3,547
33
306
-32
49
-18
14
-73
-324
306
-32
49
-18
14
34
35
36
37
38
31
-12
8
3
-1
27
-14
-344
437
10
391
1
27
-14
31
-12
8
3
-1
-17,046
-4,657
-6,992
-13,884
8,487
-41,224
-7,024
-11,098
-1,576
-21,526
-58,506
-6,771
-1,635
-15,900
-34,200
-5,683
-1,817
-5,812
1,820
2,032
-3,080
1,759
-1,033
3,192
-8,657
-2,680
-1,045
-3,258
-11,805
3,534
-1,533
-2,410
2,305
2,416
-190
-210
27,322
29,406
57,710
7,530
(18)
(IS)
(18)
(18)
(18)
(18)
(8)
(18)
R
(18)
(18)
192
2,469
3,861
8$
18
-6,935
21 ,689
13,636
7,600
7,083
18
13,306
1,709
30,691
13,627
26,740
20,656
9,005
48
(18)
(18)
(18
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
(18)
259
1,025
-181
-134
(18)
(18)
7,181
3,747
(18)
8,254
6,394
5
429
R
221
49
50
51
52
53
(18)
(18)
54
55
18)
(18)
1, 570
3,537
56
57
999
7,402
5,451
58
59
i'8-204
61
(18)
-111
18
(18)
18
1,219
(18)
-449
18
)
(18)
4,069
849
8
(18)
(18)
(18)
4,150
18
514
-10,150
-154
(18)
(18)
(18)
(18)
4,910
18
-148
2,297
271
(18)
(IS)
18
7"477
20,705
1,225
11,930
(18)
-1,208
(18)
(18)
1,109
67
1,468
111
(18)
(18)
(18)
3,832
(18)
18
(18)
(IS)
155
-10,625
\\
74
-22
39
40
41
42
43
44
45
46
47
452
-359
R
(18)
443
-1,860
7902
-6|291
65,655
(18)
(18)
(18)
h
18
-8,701
-324
386
-10
-4
40
4,155
26,516
18
2,096
-73
349
-9
(18)
3
-8,049
-256
(1?)
-3,(
-39
-113
R
R
18
48
-219
-46,008
-3,053
2,269
-10,262
-34,962
9,235
(< )
-270
-24,997
-12,749
2,924
-1,038
-285
228
-5,244
-5,435
-2,418
-11,331
13,940
7,117
-2,835
-4,509
(17)
106
-58
1
-5,132
-2,914
-2,428
2,762
-2,552
3,224
2,034
-216
55
-84,952
-14,299
-10,620
-32,072
-27,961
-1
-12,331
-2,563
2,300
R
28
3,500
219
_'>42
443
318
16
1
681
3,500
7,Cinn
384
1
-13,066
-2,342
-3,581
-4,214
-2,929
487
-11,656
1,381
28
-102
-1,047
1,489
9,232
3,800
-11,554
-351
904
-1
-161
8,300
1
11
-10,821
-249
946
-374
-137
8,300
1
868
24,787
(18)
-293
18
11, 448
(17)
60
62
5,987
8,847
-2,216
2,245
-1,501
3,315
21
-18,172
9,623
15,385
27,831
-6,086
1,835
-11,271
9,043
-11,346
4,641
3,118
63
-6,004
1,611
-4,393
2,313
-2,080
-6,181
2,439
-2,742
2,424
-4,341
1,611
-2,730
2,338
-4,524
-4,945
-4,321
1,524
-2,797
-3,372
1,347
-2,025
2,433
-3,315
-2,500
-1,602
1,948
-392
-11,477
4,929
-6,548
-4,289
-10,837
-12,303
6,062
-6,241
-5,248
-11,489
-13,831
5,289
-8,542
-5,416
-13,958
-13,648
6,206
-7,442
-5,262
-12,705
-12,760
5,512
-7,248
-319
-102
-49,213
21,514
-27,699
-18,075
-45,774
-15,101
6,741
-8,360
-7,299
-15,659
-78
-10
-41
-11
-66
-25
-11
-2,158
-421
-466
-16,069
3,765
-12,304
9,720
-2,584
-10,423
-13,007
-10,847
-11,530
-13,969
-12,771
-13,477
-15,670
64
65
66
67
68
69
70
-74
352
-4,172
2,415
-1,757
-102
-1,859
416
-4,529
2,414
-2,114
-2,543
-4,657
2,657
-140
-2,687
-2,827
408
-2,685
-2,277
824
684
-2,491
1,911
-1,816
2,805
-580
-2,627
-3,207
989
-2,700
-1,711
346
3,660
4,006
-2,785
1,221
-121
-45,895
-€,204
-13,452
SURVEY OF CURRENT BUSINESS
3-2 • January 1998
Table 10.-U.S. International
[Millions
Australia
(Credits +; debits -) 1
Line
1997
1996
1QQR
II
IIr
1
IV
III
III*
1
Exports of goods services and income
21,726
5,366
5,643
5,568
5,319
6,174
6,107
2
Goods adjusted excluding military2
11,705
2,910
2,895
2,915
2,823
3,095
3,080
3
4
Services3
.
Transfers under U S military agency sales contracts4
4,792
204
1,183
66
1,334
56
1,226
41
1,122
35
1,293
46
1,455
56
Travel
Passenger fares
Other transportation
1,819
461
297
446
117
72
572
137
80
452
112
80
392
100
72
480
133
79
620
147
85
Royalties and license fees5
Other private services5
U S Government miscellaneous services
575
1,423
13
138
344
146
341
2
160
379
2
141
379
3
159
393
3
162
382
3
5,229
2,979
2,250
1,272
720
552
1,413
849
564
1,428
829
599
1,374
777
597
1,786
1,169
617
1,572
944
628
5
6
7
8
9
10
11
12
13
14
Income receipts on U S. assets abroad
Direct investment receipts
Other private receipts
U S Government receipts
15
Imports of goods services and income
-6,820
-1,468
-1,704
-2,092
-2,074
-1,658
-1,929
16
Goods adjusted excluding military2
-3,869
-882
-992
-1,168
-1,159
-1,169
-1,290
17
18
Services3
Direct defense expenditures
-2,501
-53
-521
-565
-715
-567
-659
-943
-503
-326
-162
-108
19
20
21
Travel
Passenger fares
Other transportation
22
23
24
Royalties and license fees5
Other private services5
U S Government miscellaneous services
25
26
27
28
29
30
31
32
33
....
-32
-45
Income payments on foreign assets in the United States
Direct investment payments
31
-21
-12
-325
-157
-175
-114
-81
-80
-89
-61
-60
-7
-8
-12
-8
-8
-171
-153
-11
-66
55
-85
-36
-333
-148
-17
-283
-132
-183
-121
-10
-450
U.S. Government payments
-9
-141
-599
-147
-155
-11
-187
-17
-209
-92
-82
-35
-65
-68
-19
-56
-54
-185
-11
-11
78
213
-172
-15
-94
-38
-20
-203
-130
-115
20
175
-135
-20
-20
.
-92
-19
-25
-21
-25
-22
-19
U S Government grants4
U.S. Government pensions and other transfers
Private remittances and other transfers6
-34
-58
-B
-11
-9
-16
-9
-12
-9
-16
-9
-13
-7
-12
-11,507
129
-3,164
-4,887
2
12
Unilateral transfers, net
U.S. assets abroad, net (increase/capital outflow (-))
-595
-2,026
-104
7
34
35
36
37
38
US official reserve assets net
(Sold
Special drawing
rights
Reserve position in the International Monetary Fund
Foreign currencies
39
40
41
42
U S Government assets other than official reserve assets net
U S credits and other long-term assets
Repayments on U S credits and other long-term assets8
U 5 foreign currency holdings and U S. short-term assets net
43
44
45
46
47
U S private assets net
Direct investment
Foreign securities
.
U S claims on unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. claims reported by U.S. banks, not included elsewhere
48
-12
-743
.
15
15
-11,522
-3,789
-4,470
Foreign official assets in the United States, net
U S Government securities
U S Treasury securities^
56
57
58
59
60
61
Other foreign assets in the United States net
Direct investment
U S Treasury securities and U.S. currency flows
U S securities other than U S Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns
U S liabilities reoorted bv U S banks not included elsewhere
other us GovemmenTiiaSiiti'es'" ...."
Z!...!"".'...""....!!»..«"
U S liabilities reported by U12S banks not included elsewhere
Other foreign official assets
!
-635
-240
-123
-104
-632
-197
-922
317
-2,429
-1,269
1,592
(18)
(18)
(18)
(18)
(18)
(18)
R
R
a
R
<3
(18)
(18)
(18)
(18)
(18)
80
(18)
777
469
213
2,209
R
-53
-38
(18)
(18)
(18)
(18)
43
2,129
(18)
-ffl
427
18
2,391
(18)
(18)
212
-388
18
155
2,991
-1,421
-206
Allocations of special drawing rights
Statistical discrepancy, and transfers of funds between foreign areas, net (sum of above items with sign reversed)
-7,587
-6,383
519
64
65
66
67
68
69
70
Memoranda:
Balance on goods (lines 2 and 16)
Balance on services (lines 3 and 17)
Balance on goods and services (lines 64 and 65)
Balance on investment income (lines 1 1 and 25)
Balance on goods services and income (lines 1 and 15 or lines 66 and 67) 13
Unilateral transfers net (line 29)
Balance on current account (lines 1, 15, and 29 or lines 68 and 69) 13
7,836
2,291
10,127
4,779
14,906
-92
14,814
2028
663
2,691
1,207
3,898
-19
3,879
1,903
769
2,672
1,266
3,939
-25
3,914
245
785
-160
1,747
511
2,258
1,219
3,477
-21
3,456
501
2,560
1,874
(18)
(IS)
(18)
B<3
R
<-)
R
R
(18\
18
-57
-1,139
-921
(18)
(18)
-127
18
63
-1,092
142
1,153
1,127
-141
62
See footnotes on page 27.
-628
-1
-2,025
2,376
(18)
. . .
-1
-594
-797
4,280
..!...!!.!.....!"..!!!!!.!..!.!"..!!!
..
12
-4,899
-3,041
-222
'.
2
-3,166
-1,162
566
-1
-2,786
-48
-1,437
Foreign assets in the United States, net (increase/capital inflow (+))
49
50
51
52
53
54
55
129
-1
(18)
272
128
-1,813
18
(18)
R
R
ft
325
-153
18
2,173
18
-700
-1,703
-5,028
-5,929
1,664
378
2,042
1,202
3,244
-25
3,219
1,926
726
2,652
1,864
4,516
-22
4,494
1,790
796
2,586
1,592
4,178
-19
4,159
SURVEY OF CURRENT BUSINESS
January 1998 • 33
Transactions, by Area—Continued
of dollars]
International organizations and unallocated 16
Other countries in Asia and Africa
1997
1996
1996
II
I
IV
III
Line
1997
1996
1996
II'
II
\\\r
IV
III
II r
I
\\\P
1
222,809
54,792
54,282
59,243
56,128
59,659
59,787
17,364
146,382
36,265
34,217
39,364
36,746
39,453
38,517
2
51,121
9,297
12,250
2,242
13,694
2,179
13,048
2,820
12,623
1,831
13,380
2,507
14,786
2,432
5,704
13
1,482
1,416
2
1,427
2
1,458
1,359
1,410
10,776
1,754
8,683
2,903
437
2,145
3,513
562
2,145
2,406
413
2,342
2,195
359
2,230
3,124
492
2,250
3,809
607
2,232
527
139
171
122
181
107
134
3,899
16,339
373
939
3,503
80
1,052
4,139
105
1,039
3,949
79
962
4,967
79
1,033
3,894
80
1,036
4,588
82
1,550
3,614
371
972
382
861
428
874
382
one
090
385
867
391
885
8
9
10
25,306
15,429
8,611
1,266
6,277
3,849
2,149
279
6,371
3,836
2,162
373
6,831
4,214
2,303
314
6,760
4,087
2,357
316
6,826
3,912
2,597
317
6,484
3,471
2,657
356
11,659
4,304
6,725
630
2,884
1,080
1,670
134
2,906
1,041
1,714
151
3,184
1,295
1,743
146
2,966
1,165
1,659
142
3,043
1,164
1,745
134
3,240
1,245
1,865
130
11
12
13
14
-282,525
-66,670
-76,883
-74,610
-70,072
-75,688
-85,129
-4,181
-955
-1,474
-991
-1,019
-914
-948
15
-231,998
-54,574
-63,554
-61,410
-56,021
-61,312
-70,537
-27,379
-1,901
-6,745
-7,024
-6,964
-7,146
-7,439
-7,537
-3,028
-714
-1,192
-598
-697
-572
-591
-507
-513
-470
-513
-632
-505
17
18
-8,349
-3,638
-7,125
-2,073
-2,129
-1,998
-2,219
-2,240
-926
-933
-900
-972
-977
-1,710
-1,899
-1,849
-1,741
-1,811
-2,360
-1,011
-1,854
-978
-314
'^322
-196
-357
-235
-247
-101
-17
-1,315
-20
-1,337
-49
-1,508
-22
-1,483
-19
-1,563
-14
-1,595
-119
-282
-115
-225
-104
-5,497
-233
-116
-228
-768
-197
-193
-190
-196
-197
-198
22
23
24
-23,148
-36
-9,271
-13,841
-5,351
224
-2,303
-3,272
-6,305
-6,236
125
-2,347
-4,014
-6,905
-342
-357
-2,423
-4,306
-6,937
238
-2,530
-4,645
-322
-2,373
-3,577
-16,610
-2,557
-3,042
-5,872
-3,061
-10,180
-1,104
-1,424
-4,279
-1,213
-355
-176
4,366
4,323
4,611
4,424
4,402
4,650
2
3
4
5
6
7
16
19
20
21
-904
-104
-574
-1,144
-2
-295
-296
-7,055
-49
-2,495
-4,511
-1,153
1,628
-2,590
-241
-38
-34
-68
-28
-27
-44
25
26
27
28
-2,818
-3,028
-9,461
-2,313
-2,335
-2,855
-2,115
-2,360
-2,295
29
-1,203
-1,205
-872
-401
-226
-112
-207
-297
-111
-218
30
31
32
-1
-1
-282
-190
-392
404
430
-633
432
373
-697
-652
-97
429
-744
-726
422
-735
-508
-112
-115
-109
-121
-125
-121
-1,341
-1,503
-1,484
-1,727
-1,490
-1,702
-87
-1,825
-448
-5,922
-1,340
-7,249
-213
-647
-1,790
-1,995
-1,777
-1,856
-1,966
-51,803
-15,866
-2,767
-20,514
-16,737
-10,535
-9,454
-6,725
-700
-702
-1,236
33
-910
-353
-602
370
-1,280
-133
-220
-183
34
35
36
37
38
-1,287
-1,287
-234
-234
-321
-321
-413
-413
-4,528
-4,348
526
-52
-113
-760
-100
-1,046
-2,271
-758
-699
-40
-1,901
1,665
196
32
102
-52
-75
-404
-829
-129
-614
-390
^K)3
525
-454
491
263
367
-15
464
41
443
-21
497
-12
982
^3
-51,763
-11,412
-23,394
-1,203
-15,754
-15,791
-3,426
-4,982
108
-7,491
-2,715
-2,188
-4,555
-16,769
-6,445
-3,665
24
-7,683
-10,406
-3,198
-2,297
123
-5,034
-9,979
-3,743
-8,789
4,400
-20,616
-2,910
-9,015
-1,297
-7,394
2"553
-654
59,216
13,714
29,226
14,309
31,640
-11,650
21,167
3
(18)
(18)
(18)
(18)
R
(18)
(18)
(18)
(18)
R
18)
2
(»)
-840
7,695
779
51,493
R
8
42
873
18
3,276
350
11, 066
3
-12
8
)
8
)
-1,071
(18)
(18)
1,631
861
25,354
18
1,494
491
13,407
12
(18)
(18)
8
(18)
(18)
18
B
8
)
»
(18)
(18)
8
(18)
-283
:<!
18
-372
(18)
(18)
514
3,520
(18)
3,509
880
26,265
18
(18)
18
-1,345
2,636
-1,534
665
-174
1,127
-79
848
-146
72
1,055
-133
-333
-333
-340
-340
-293
-293
39
40
41
42
1,842
-1,115
-341
-927
-828
-831
^31
43
44
45
46
47
4,326
48
-28
54
-139
-463
6
741
5
1,335
-841
1,648
56
1,065
17,340
5,606
8,569
6,482
1,012
2
1
1
-1
2
1
1
-1
17,338
-1,873
5,605
8,568
6,483
1,012
7,345
4,326
-468
-469
-471
-473
-476
836
-54
-115
133
-3
-417
7,345
521
49
50
51
52
53
54
55
(.8)
43
R
(18)
1,741
(18)
1,680
79
-16,941
"i'^ee
,,,,
-468
(18)
2,656
5?
-118
18
255
19,074
18
25
6,050
(18)
18
119
8,934
18
-25
56
6,921
(18)
<1
18
24
1,450
18
(18)
-25
57
7,786
"i'SS
-73
56
57
58
59
60
61
62
68,913
16,587
-85,616
23,742
-61,874
2,158
-59,716
-16,610
-76,326
-18,309
5,505
-12,804
927
-11,878
-2,557
-14,435
-817
-29,337
6,670
-22,667
66
-22,601
-3,042
-25,643
27,443
2,102
41,032
16,657
-14,338
-6,005
-8,381
-5,903
-4,938
-6,939
-4,497
63
-22,046
6,084
-15,962
596
-15,367
-5,872
-21,239
-19,275
5,477
-13,798
-21,859
5,941
-15,918
-32,020
7,249
-24,771
2
2,676
2,678
10,506
13,184
-9,461
3,723
768
768
2,643
3,411
-2,313
1,098
225
225
2,624
2,848
-2,335
513
828
828
2,792
3,621
-2,855
766
761
761
2,644
3,406
-2,115
1,291
787
787
2,701
3,488
-2,360
1,128
819
819
2,883
3,702
-2,295
1,407
64
65
66
67
68
69
70
-145
-13,944
-3,061
-17,005
-111
-16,029
-2,818
-18,847
-571
-25,342
-3,028
-28,370
SURVEY OF CURRENT BUSINESS
34 • January 1998
1998 Release Dates for BEA Estimates
Subject
Release
Date*
U.S. International Trade in Goods and Services,
Jan. 21 t
November 1997.
Jan. 27
State Personal Income, 3rd quarter 1997
Gross Domestic Product, 4th quarter 1997 (advance) — Jan. 30
Personal Income and Outlays, December 1997
Feb. 2
U.S. International Trade in Goods and Services,
Feb. 19 t
December 1997.
Gross Domestic Product, 4th quarter 1997 (preliminary) Feb. 27
Personal Income and Outlays, January 1998
Summary of U.S. International Transactions,
4th quarter 1997.
U.S. International Trade in Goods and Services,
January 1998.
Gross Domestic Product, 4th quarter 1997 (final) and
Corporate Profits, 4th quarter 1997.
Personal Income and Outlays, February 1998
Mar. 2
Mar. 12
U.S. International Trade in Goods and Services,
February 1998.
State Personal Income, 4th quarter 1997 and
Per Capita Personal Income, 1997 (preliminary).
Gross Domestic Product, ist quarter 1998 (advance)
Apr. 17 t
Personal Income and Outlays, March 1998
Metropolitan Area Personal Income, 1996
U.S. International Trade in Goods and Services,
March 1998.
Gross Domestic Product, ist quarter 1998 (preliminary)
and Corporate Profits, ist quarter 1998 (preliminary).
Personal Income and Outlays, April 1998
May i
May 4
May 20 t
Gross State Product, 1993-96
Foreign Investors' Spending to Acquire or Establish
U.S. Businesses, 1997.
U.S. International Trade in Goods and Services,
April 1998.
Summary of U.S. International Transactions,
ist quarter 1998.
Gross Domestic Product, ist quarter 1998 (final) and
Corporate Profits, ist quarter 1998 (revised).
June 2
June 10
* These are target dates and are subject to revision.
f Joint release by Bureau of the Census and BEA.
Mar. 19 t
Mar. 26
Mar. 27
Apr. 27
Apr. 30
May 28
May 29
June 18 t
June 18
June 25
Subject
Personal Income and Outlays, May 1998
International Investment Position of the United States,
1997-
Release
Date*
June 26
June 30
U.S. International Trade in Goods and Services,
July 17 t
May 1998.
State Personal Income, ist quarter 1998
July 23
Gross Domestic Product, 2nd quarter 1998 (advance)... July 31
Personal Income and Outlays, June 1998
U.S. International Trade in Goods and Services,
June 1998.
Gross Domestic Product, 2nd quarter 1998 (preliminary)
and Corporate Profits, 2nd quarter 1998 (preliminary).
Personal Income and Outlays, July 1998
Aug. 3
Aug. 18 t
Summary of U.S. International Transactions,
2nd quarter 1998.
State Per Capita Personal Income, 1997 (revised)
U.S. International Trade in Goods and Services,
July 1998.
Gross Domestic Product, 2nd quarter 1998 (final) and
Corporate Profits, 2nd quarter 1998 (revised).
Personal Income and Outlays, August 1998
Sept. 10
Aug. 27
Aug. 28
Sept. 14
Sept. 17 t
Sept. 24
Sept. 25
U.S. International Trade in Goods and Services,
Oct. 20 t
August 1998.
State Personal Income, 2nd quarter 1998
Oct. 27
Gross Domestic Product, 3rd quarter 1998 (advance) — Oct. 30
Personal Income and Outlays, September 1998
U.S. International Trade in Goods and Services,
September 1998.
Gross Domestic Product, 3rd quarter 1998 (preliminary)
and Corporate Profits, 3rd quarter 1998 (preliminary).
Personal Income and Outlays, October 1998
Nov. 2
Nov. 18 t
Summary of U.S. International Transactions,
3rd quarter 1998.
U.S. International Trade in Goods and Services,
October 1998.
Gross Domestic Product, 3rd quarter 1998 (final) and
Corporate Profits, 3rd quarter 1998 (revised).
Personal Income and Outlays, November 1998
Dec.
Nov. 24
Nov. 25
9
Dec. 17 f
Dec. 23
Dec. 24
For further information, call (202) 606-9900, or write to Public Information
Office (BE-53J, Bureau of Economic Analysis, U.S. Department of Commerce,
Washington, DC 20230.
SURVEY OF CURRENT BUSINESS
January 1998
Contents
D-l
BEA CURRENT AND HISTORICAL DATA
National, International, and Regional Estimates
This section presents an extensive selection of economic statistics prepared by the Bureau of Economic Analysis (BEA)
and a much briefer selection of collateral statistics prepared by other Government agencies and private organizations. Series
originating in Government agencies are not copyrighted and may be reprinted freely. Series from private sources are provided
through the courtesy of the compilers and are subject to their copyrights.
BEA makes its economic information available on three World Wide Web sites.
The BEA Web site
<http://www.bea.doc.gov> contains data, articles, and news releases from BEA'S national, international, and regional programs. The Federal Statistical Briefing Room (FSBR) on the White House Web site <http://www.whitehouse.gov/fsbr>
provides summary statistics for GDP and a handful of other NIPA aggregates. The Commerce Department's STAT-USA Web
site <http://www.stat-usa.gov> provides detailed databases and news releases from BEA and from other Federal Government
agencies by subscription; information about STAT-USA'S Economic Bulletin Board (EBB) and Internet services may be obtained
at the Web site or by calling 202-482-1986.
The tables listed below present annual, quarterly, and monthly estimates, indicated as follows: [A] Annual estimates only;
[Q] quarterly estimates only; [QA] quarterly and annual estimates; [MA] monthly and annual estimates.
National Data
A. Selected NIPA Tables: [QA]
1. National product and income
2. Personal income and outlays
3. Government receipts, current expenditures,
and gross investment
4. Foreign transactions
5. Saving and investment
6. Income and employment by industry
7. Quantity and price indexes
8. Supplementary tables
International Data
D-2
D-6
D-j
D-ii
D-13
D-i6
D-i/
D-24
B. Other NIPA and NiPA-related tables:
Monthly estimates: [MA]
B.i. Personal income
B.2. Disposition of personal income
D-2j
D-27
Annual estimates: [A]
6.3. GDP by industry
D-28
B.4. Personal consumption expenditures by type of
expenditure
D-29
6.5. Private purchases of structures by type
0-30
B.6. Private purchases of producers* durable
equipment by type
D-30
B.j. Compensation and wage and salary accruals
by industry
D-3i
B.8. Employment by industry
0-32
6.9. Wage and salary accruals and employment
by industry per full-time equivalent
D-33
B.io. Farm sector output, gross product,
and national income
D-34
B.ii. Housing sector output, gross product,
and national income
D-34
B.i2. Net stock of fixed private capital, by type... 0-35
F. Transactions tables:
F.i. U.S. international transactions in goods
and services [MA]
F.2. U.S. international transactions [QA]
F.3. Selected U.S. international transactions,
by area [Q]
F.4. Private service transactions [A]
D-5i
0-52
D-53
0-56
G. Investment tables:
G.i. International investment position of the United
States [A]
0-57
G.2. USDIA: Selected items [A]
D-58
G.3. Selected financial and operating data for nonbank
foreign affiliates of U.S. companies [A]
D-59
G.4. FDIUS: Selected items [A]
D-6o
G.5. Selected financial and operating data of nonbank
U.S. affiliates of foreign companies [A]
D-6i
H. International perspectives [MA, QA]
D-62
I. Charts
D-64
Regional Data
J. State and regional tables:
J.i. Total and nonfarm personal income [QA]....D-65
J.2. Percent of personal income for selected
components [A]
D-66
J.3. Per capita personal income and
disposable personal income [A]
D-67
J.4. Gross state product [A]
D-68
K. Local area table
D-69
L. Charts
D-/I
C. Historical tables: [A]
C.i. Historical estimates for major NIPA
aggregates
C.2.-C.7. Growth rates of selected components
of real GDP
0-36
D. Domestic perspectives [MA, QA]
D~4i
E. Charts:
Selected NIPA series
Other indicators of the domestic economy
Appendix A: Additional information about
BEA'S NIPA estimates:
Statistical conventions
Reconciliation tables [QA]
D-73
D-74
D-43
0-49
Appendix B: Suggested reading
D-75
D-39
Appendixes
D-2 • National Data
SURVEY OF CURRENT BUSINESS
January 1998
National Data
A. Selected NIPA Tables
The tables in this section include the most recent estimates of gross domestic product and its components;
these estimates were released on December 23, 1997 and include the "final" estimates for the third quarter of
1997.
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. Most of the "annual only" NIPA tables were presented in the
August 1997 SURVEY OF CURRENT BUSINESS; tables 8.20-8.26 were presented in the September 1997 SURVEY; and
the remaining "annual only" tables—tables 3.15-3.20 and 9.1-9.6—were presented in the October 1997 SURVEY.
The selected NIPA tables are available on printouts or diskettes from BEAO To order NIPA subscription
products using Visa or MasterCard, call the BEA Order Desk at 1-800-704-0415 (outside the United States,
202-606-9666).
The news release on gross domestic product (GDP) is available at the time of release, and the selected NIPA
tables are available later that day, on STAT-USA'S Economic Bulletin Board and Internet services; for information,
call STAT-USA on 202-482-1986. In addition, the GDP news release is available the afternoon of the day of the
release, and the selected NIPA tables are available about two weeks later (when the SURVEY is sent to the printer),
on BEA'S Internet site <http://www.bea.doc.gov>.
i. National Product and IncomeTable 11—Gross Domestic Product
Table 1.2.—Real Gross Domestic Product
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1995
1996
1996
II
Gross domestic 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
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
III
I
II
4,957,7 5,207.6 5,189.1 5,227.4 5,308.1 5,405.7 5,432.1 5,527.4
608.5 634.5 638.6 634.5 638.2 658.4 644.5 667.3
1,475.8 1,534.7 1,532.3 1,538.3 1,560.1 1,587.4 1,578.9 1,600.8
2,873.4 3,038.4 3,018.2 3,054.6 3,109.8 3,159.9 3,208.7 3,259.3
1,038.2 1,116.5 1,105.4 1,149.2 1,151.1 1,193.6 1,242.0 1,250.2
1,008.1 1,090.7 1,082.0 1,112.0 1,119.2 1,127.5 1,160.8 1,201.3
723.0 781.4 769.3 798.6 807.2 811.3 836.3 872.0
200.6 215.2 210.6 217.7 227.0 227.4 226.8 232.9
522.4
285.1
566.2
309.2
558.7
312.7
580.9
313.5
580.2
312.0
583.9
316.2
609.5
324.6
639.1
329.3
30.1
25.9
23.4
37.1
31.9
66.1
81.1
48.9
-86.0
-94.8
-93.8 -114.0
-88.6
-98.8
818.4
583.9
234.6
904.5
757.5
146.9
870.9
617.5
253.3
965.7
809.0
156.7
865.0
613.9
251.1
958.7
802.9
155.8
863.7
609.7
254.0
977.6
820.2
157.5
-88.7 -111.3
904.6 922.2 960.3 965.8
640.5 656.2 690.0 691.1
264.2 266.0 270.3 274.8
993.2 1,021.0 1,049.0 1,077.1
834.6 855.8 880.1 905.6
158.6 165.2 168.9 171.6
1,355.5 1,406.7 1,407.0 1,413.5 1,422.3 1,433.1 1,449.0 1,457.9
509.6
344.6
165.0
846.0
520.0
352.8
167.3
886.7
524.6
357.3
167.3
882.4
521.6
354.8
166.8
891.9
517.6
350.6
167.0
904.7
516.1
343.3
172.8
917.0
526.1
350.6
175.5
923.0
525.7
352.1
173.6
932.3
1996
1996
II
III
7,265,4 7,636.0 7,607.7 7,676.0 7,792.9 7,933.6 8,034.3 8,124.3
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
1995
1997
IV
Gross domestic 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
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
Residual
III
1997
IV
!
II
III
6,742.1 6,928.4 6,926.0 6,943.8 7,017.4 7,101.6 7,159.6 7,214.0
4,595.3 4,714.1 4,712.2 4,718,2 4,756.4 4,818.1 4,829.4 4,896.2
583.6 611.1 614.8 611.9 617.1 637.8 629.0 656.1
1,412.6 1,432.3 1,431.6 1,433.9 1,441.2 1,457.8 1,450.0 1,465.5
2,599.6 2,671.0 2,666.5 2,672.8 2,698.2 2,723.9 2,749.8 2,776.1
991,5 1,069.1 1,059.2 1,100.3 1,104.8 1,149.2 1,197.1 1,204.6
962.1 1,041.7 1,035.7 1,060.9 1,068.7 1,079.0 1,111.4 1,149.3
706.5 771.7 759.7 789.3 800.8 808.9 837.0 874.5
179.9 188.7 185.6 190.0 196.9 195.9 193.5 196.7
528.3
257.0
586.0
272.1
577.1
277.2
602.9
274.1
606.7
271.1
616.6
273.3
649.3
278.2
685.3
280.1
27.3
25.0
21.3
37.9
32.9
63.7
77.6
47.5
-98,8 -114.4 -112.6 -138.9 -105.6 -126.3 -136.6 -164.1
791.2
573.9
218.0
890.1
749.2
141.2
857.0
628.4
229.9
971.5
823.1
149.0
847.4
619.2
229.3
960.0
811.7
148.8
851.4 901.1 922.7 962.5 973.0
623.0 666.2 686.2 725.8 731.8
229.4 236.8 238.9 240.8 245.0
990.2 1,006.6 1,048.9 1,099.1 1,137.1
841.7 857.5 891.3 938.4 972.7
149.3 150.0 158.4 161.8 165.8
1,251,9 1,257,9 1,265.1 1,261,5 1,261.8 1,260.5 1,270.1 1,273.4
470.3
322.6
147.5
781.6
.6
464.2
317.8
146.1
793.7
-1.6
470.7
323.2
147.2
794.4
-.9
465.7
319.4
146.0
795.9
459.6
313.6
145.7
802.3
452.8
303.9
148.5
807.7
460.1
309.4
150.2
810.1
458.8
310.3
148.0
814.7
-2.4
-3.8
-2.9
-3.9
-4.6
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.
January 1998
National Data • D-3
SURVEY OF CURRENT BUSINESS
Table 11—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
1995
1996
1996
II
Gross domestic product
Final sales of domestic
product
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
Addenda:
Motor vehicle output
Gross domestic product less
motor vehicle output
III
Seasonally adjusted at annual rates
1995
1997
IV
I
II
7,235.3 7,610.2 7,584.3 7,638.9 7,761.0 7,867.4 7,953.2 8,075.3
30.1
25.9
23.4
37.1
31.9
66.1
48.9
81.1
2,667.9 2,785.2 2,782.7 2,797.8 2,826.9 2,904.6 2,936.0 2,952.1
2,637.8 2,759.3 2,759.3 2,760.7 2,795.0 2,838.4 2,854.9 2,903.2
30.1
25.9
23.4
37.1
31.9
66.1
48.9
81.1
1,163.0 1,228.9 1,232.9 1,249.5 1,232.4 1,279.8 1,322.1 1,323.9
1,133.9 1,212.0 1,214.8 1,216.3 1,233.5 1,248.0 1,275.3 1,305.3
29.1
16.9
18.1
33.3
-1.1
31.8
46.8
18.6
1,504.9 1,556.3 1,549.9 1,548.3 1,594.5 1,624.7 1,613.9 1,628.2
1,503.9 1,547.3 1,544.5 1,544.4 1,561.5 1,590.4 1,579.6 1,597.9
9.0
33.0
34.3
34.4
30.3
5.3
3.9
1.0
3,980.7 4,187.3 4,162.2 4,208.1 4,282.7 4,338.2 4,400.1 4,462.3
616.8 663.6 662.8 670.1 683.3 690.8 698.2 709.8
273.5
271.4
283.5
278.7
267.2
281.4
II
II!
7,265.4 7,636.0 7,607.7 7,676.0 7,792.9 7,933.6 8,034.3 8,124.3
270.4
287.4
6,991.9 7,364.7 7,324.2 7,397.3 7,525.8 7,652.2 7,764.0 7,836.9
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
1996
1996
III
1997
IV
6,742.1 6,928.4 6,926.0 6,943.8 7,017.4
Gross domestic product
Final sales of domestic
6,712.7 6,901.0 6,902.3 6,905.0 6,981.7
product
Change in business
27.3
21.3
37.9
32.9
inventories
25.0
Residual
2.1
2.4
2.4
.9
2.8
Goods .....
2,574.2 2,662.6 2,658.8 2,673.1 2,704.1
Final sales
2,545.0 2,635.5 2,635.5 2,634.0 2,668.4
Change in business
27.3
21.3
37.9
32.9
inventories
25.0
Durable goods
.. . 1,152.3 1,222.1 1,227.3 1,244.0 1,228.5
1,124.3 1,205.8 1,210.0 1,211.4 1,230.1
Final sales
Change in business
27.3
17.0
31.3
-.9
inventories
15.9
1,423.4 1,443.7 1,435.1 1,433.5 1,477.9
Nondurable goods
Final sales
1,421.9 1,433.2 1,429.3 1,426.5 1,442.6
Change in business
-2
4.3
6.6
33.8
inventories
9.1
Services 3,614.7 3,686.6 3,684.9 3,689.0 3,723.9
Structures
555.0 582.2 584.9 585.0 592.9
Residual ....
-4.4
-4.4
-.9
-6.0
-5.0
Addenda:
Motor vehicle output
247.5 241.3 252.8 246.8 236.5
Gross domestic product less
motor vehicle output
6,494.3 66R71 6,672.9 6696R 67810
I
II
III
7,101.6 7,159.6 7,214.0
7,034.1 7,077.7 7,160.3
63.7
77.6
47.5
6.2
3.8
4.3
2,769.3 2,796.7 2,815.4
2,699.6 2,711.8 2,760.7
63.7
77.6
47.5
1,277.0 1,327.5 1,338.4
1,245.8 1,281.4 1,320.4
.17.5
29.9
43.8
1,496.1 1,476.2 1,484.3
1,458.3 1,437.5 1,449.0
33.8
33.8
30.1
3,743.9 3,774.4 3,804.8
595.1 595.7 600.7
-5.2
-7.0
-8.5
247.5
240.6
254.0
6,854.1 6,919.1 6,960.1
NoiE.-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 residua! 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 1.5.—Relation of Gross Domestic Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
Table 1.6.—Relation of Real Gross Domestic Product, Real Gross
Domestic Purchases, and Real Final Sales to Domestic Purchasers
[Billions of dollars]
[Billions of chained (1992) 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
7,265.4 7,636.0 7,607.7 7,676.0 7,792.9 7,933.6 8,034.3 8,124.3
818.4
870.9
865.0
863.7
904.6
904.5
965.7
958.7
977.6
993.2 1,021.0 1,049.0 1,077.1
922.2
960.3
965.8
7,351.4 7,730.9 7,701.5 7,790.0 7,881.5 8,032.4 8,123.1 8,235.6
30.1
25.9
23.4
37.1
31.9
66.1
81.1
48.9
Equals: Final sales to
domestic purchasers
7,321.3 7,705.0 7,678.1 7,752.8 7,849.6 7,966.3 8,042.0 8,186.6
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
Table 1.7.—Gross Domestic Product by Sector
Gross domestic product
Business1
Nonfarm1
Nonfarm less housing
Housing
Farm
*
Households and institutions ...
Private households
Nonprofit institutions
General government2
Federal
State and local
73.5
89.4
331.8
346.0
343.9
7,933.6
6,666.5
6,573.1
51892.5
673.0 680.6
7,792.9
6,543.1
6,450.0
.
5,777.1
8,034.3
6,755.0
6,657.9
5,971.0
8,124.3
6,831.8
6,736.8
6,044.2
692.7
92.5
93.0
93.4
97.1
95.0
347.9
352.0
357.7
363.6
369.3
11.8
11.5
11.6
11.4
11.1
11.1
11.3
11.4
334.6
889.0
281.4
607.6
332.3
886.1
281.9
604.2
336.6
893.9
282.1
611.8
341.0
346.6
909.4
286.2
623.3
352.3
915.8
286.2
629.6
357.9
923.2
286.1
637.1
897.8
281.1
616.7
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 3.7.
847.4
851.4
960.0
990.2 1,006.6 1,048.9 1,099.1 1,137.1
901.1
922.7
962.5
973.0
6,837.5 7,037.7 7,033.6 7,075.3 7,118.4 7,220.9 7,286.9 7,364.6
27.3
25.0
21.3
37.9
32.9
77.6
63.7
47.5
6,808.1 7,010.2 7,009.9 7,036.4 7,082.7 7,153.1 7,204.7 7,310.9
[Billions of chained (1992) dollars]
7,676.0
6,434.2
6,341 ,7
J
5,677.3
664.4
319.9
858.9
275.5
583.4
857.0
971.5
Table 1.8.—Real Gross Domestic Product by Sector
[Billions of dollars]
7,607.7
6,377.7
6,289.2
5,636.3
,636.3
652.8
791.2
890.1
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 correspond^ 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.
7,265.4 7,636,0
6,074.7 6,401.0
6,001.36,311.6
5,372.0 5,652.8
629.2 658.8
6,742.1 6,928.4 6,926.0 6,943.8 7,017.4 7,101.6 7,159.6 7,214.0
Gross domestic product
Business*
Nonfarm!
Nonfarm less housing
Housing
Farm
Households and institutions ...
Private households
Nonprofit institutions
General government2
Federal
State and local
Residual
6,742.1
5,657.4
5,582.7
5,005.7
577.0
6,928.4
5,842.9
5,766.8
5,181.4
585.7
6,926.0 6,943.8 7,017.4
5,838.1 5,854.9 5,928.5
5,761.35,779.85,853.3
5,179.0 5,191.3 5,261.3
582.6 588.7 592.3
7,101.6
6.009.6
5.929.7
5,335.3
594.9
7,159.6
6,064.4
5,983.2
5,388.2
595.6
7,214.0
6,114.4
6,034.0
5,439.2
595.7
74.2
75.5
76.2
74.6
74.7
79.0
80.4
79.6
305.1
311.2
310.4
312.5
314.4
316.9
9.6
307.4
539.9
319.2
9.6
309.6
778.8
237.1
542.1
321.7
9.7
312.1
781.1
236.3
545.2
-2J
-3.0
-3.8
10.8
294.3
780.3
248.1
532.2
-.2
10.1
10.3
10.0
301.1
300.1
775.9
240.9
535.2
778.9
242.8
536.3
302.5
778.1
241.3
537.0
9.6
304.8
776.6
238.9
537.9
-1.5
-1.3
-1.6
-2.1
777.7
238.2
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 3.8.
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.
SURVEY OF CURRENT BUSINESS
D-4 • National Data
January 1998
Table 1.9.—Relation of Gross Domestic Product, Gross National Product,
Net National Product, National Income, and Personal Income
Table 1.10.—Relation of Real Gross Domestic Product, Real Gross
National Product, and Real Net National Product
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
1995
1996
1996
II
Gross domestic product
Plus: Receipts of factor income
from the rest of the world
Less: Payments of factor income
to the rest of the world
Equals: Gross national
product
Less: Consumption of fixed
capital
Private
Capital
consumption
allowances
Less: Capital
consumption
adjustment
Government
General
government
Government
enterprises
Equals: Net national product
Less: Indirect business tax and
nontax liability
Business transfer
payments
Statistical discrepancy ...
Plus: Subsidies less current
surplus of government
enterorises
Equals: National income
Less: Corporate profits with
inventory valuation and capital
consumption adjustments
Net interest
Contributions for social
insurance
Wage accruals less
disbursements
Plus: Personal interest income ...
Personal dividend
income
Government transfer
payments to persons
Business transfer
payments to persons
Equals: Personal income
Addenda:
Gross domestic income
Gross national income
Net domestic product
II
I
IV
III
Seasonally adjusted at annual rates
1995
1997
II
Hi
7,265.4 7,636.0 7,607.7 7,676.0 7,792.9 7,933.6 8,034.3 8,124.3
222.8
234.3
227.1
235.4
248.8
248.2
261.6
269.4
217.5
232.6
224.3
242.3
245.6
262.5
282.3
290.1
7,270.6 7,637.7 7,610.5 7,669.1 7,796.1 7,919.2 8,013.6 8,103.5
796.8
653.0
830.1
682.7
824.1
676.8
835.4
687.7
845.6
697.2
855.0
705.4
863.0
712.3
871.6
720.3
669.1
709.9
704.9
715.4
725.3
736.6
745.9
754.3
16.1
27.1
28.0
27.8
28.1
31.2
33.6
34.0
143.8
147.4
147.2
147.8
148.4
149.6
150.6
151.3
122.4
125.1
125.1
125.4
125.8
126.8
127.4
128.0
21.4
22.3
22.1
22.4
22.6
22.9
23.3
23.4
6,473.9 6,807.6 6,786.4 6,833.6 6,950.4 7,064.2 7,150.7 7,231.9
582.8
32.2
-28.2
604.8
599.0
33.6
33.5
-59.9
-50.2
25.4
25.2
600.9
33.8
-79.5
625.3
610.2
34.2
34.4
-59.5
-64.3
26.0
26.1
1996
1996
616.2
625.4
35.0
35.9
-73.5 -103.2
Gross domestic product
Plus: Receipts of factor income
from the rest of the world
Less: Payments of factor income
to the rest of the world
Equals: Gross national
product
Less: Consumption of fixed
capital
Private
Government
General
government
Government
enterprises
Equals: Net national product
Addenda:
Gross domestic income2!
Gross national income
Net domestic product
III
1997
IV
I
II
III
6,742.1 6,928.4 6,926.0 6,943.8 7,017.4 7,101.6 7,159.6 7,214.0
207.7
214.2
208.1
214.8
226.0
224.6
236.3
242.5
200.7
210.2
203.7
218.1
219.8
234.0
250.8
256.9
6,748.7 6,932.0 6,930.1 6,940.2 7,023.1 7,091.8 7,144.4 7,198.8
752.5
619.6
132.9
776.4
642.4
134.2
773.0
639.1
134.0
779.8
645.7
134.3
786.7
652.2
134.6
797.3
662.6
135.0
806.5
671.5
135.3
816.0
680.8
135.6
113.4
114.1
114.0
114.2
114.4
114.6
114.8
115.0
19.5
20.0
20.0
20.1
20.2
20.3
20.4
20.6
5,996.1 6,155.6 6,156.9 6,160.4 6,236.4 6,294.5 6,338.2 6,383.3
6,768.2 6,982.7 6,971.8 7,015.7 7,070.9 7,159.2 7,225.2 7,305.6
6,774.8 6,986.3 6,975.9 7,012.1 7,076.7 7,149.4 7,210.0 7,290.5
5,989.4 6,151.9 6,152.8 6,164.0 6,230.7 6,304.4 6,353.3 6,398.3
1. Gross domestic income deflated by the implicit price deflator for gross domestic product.
2. Gross national income deflated by the implicit price deflator for gross national product.
NOTE.—Except as noted in footnotes 1 and 2, 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 chaineddollar estimates are usually not additive.
Table 1.11.—Command-Basis Real Gross National Product
25.2
24.9
26.0
25.8
[Billions of chained (1992) dollars]
5,912.3 6,254.5 6,229.4 6,303.3 6,376.5 6,510.0 6,599.0 6,699.6
650.0
425.1
735.9
425.1
738.5
422.5
739.6
430.9
747.8
430.6
779.6
440.5
795.1
448.1
827.3
451.8
659.1
692.0
688.7
696.8
705.1
719.5
726.9
735.0
13.1
1.1
1.1
1.1
1.1
1.2
1.2
1.2
718.9
735.7
727.8
742.7
749.8
7572
766.1
772.6
251.9
291.2
290.0
292.0
295.2
312.5
318.3
324.5
990.0 1,042.0 1,039.0 1,046.3 1,055.1 1,080.5 1,090.0 1,098.4
25.0
26.0
25.9
26.1
26.4
26.7
26.9
27.2
6,150.8 6,495.2 6,461.3 6,541.9 6,618.4 6,746.2 6,829.1 6,906.9
7,293.6 7,695.9 7,657.9 7,755.5 7,852.4 7,997.9 8,107.9 8,227.4
7,298.9 7,697.6 7,660.7 7,748.5 7,855.5 7,983.6 8,087.2 8,206.7
6,468.6 6,805.9 6,783.6 6,840.6 6,947.3 7,078.5 7,171.4 7,252.6
6,748.7 6,932.0 6,930.1 6,940.2 7,023.1 7,091.8 7,144.4 7,198.8
Gross national product
Less: Exports of goods and
services and receipts of factor
income from the rest of the
999.7 1,071.7 1,055.8 1,066.8 1,127.6 1,147.3 1,198.9 1,216.0
world .
Plus: Command-basis exports of
goods and services and !
receipts of factor income
1,014.0 1,091.1 1,075.2 1,090.2 1,143.4 1,171.9 1,241.7 1,261.9
Equals: Command-basis gross
national product
6,763.0 6,951.4 6,949.5 6,963.6 7,038.9 7,116.4 7,187.2 7,244.8
Addendum:
101.4 101.8 101.8 102.2 101.4 102.1 103.6 103.8
Terms of trade2
1. Exports of goods and services and receipts of factor income deflated by the implicit price deflator for imports
of goods and services and payments of factor income.
2. Ratio of the implicit price deflator for exports of goods and services and receipts of factor income to the
corresponding implicit price deflator for imports with the decimal point shifted two places to the right.
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.
Table 1.14—National Income by Type of Income
Table 1.16,—Gross Domestic Product of Corporate Business in Current
Dollars and Gross Domestic Product of Nonfinancial Corporate Business in Current and Chained Dollars
[Billions of dollars]
Seasonally adjusted at annual rates
1995
1996
1996
II
National income
Compensation of employees ...
Wage and salary accruals
Government
Other
Supplements to wages and
salaries
Employer contributions for
social insurance
Other labor income
Proprietors' income with
inventory valuation and
capital consumption
adjustments
Farm
Proprietors' income with
inventory valuation
adjustment
Capital consumption
adjustment
Nontarm
Proprietors' income
Inventory valuation
adjustment
Capital consumption
adjustment
Rental income of persons with
capital consumption
adjustment
Rental income of persons
Capital consumption
adjustment
Corporate profits with
inventory valuation and
capital consumption
adjustments
Corporate profits with
inventory valuation
adjustment
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits ...
Inventory valuation
adjustment
Capital consumption
adjustment
Net interest
Addenda:
Corporate profits after tax with
inventory valuation and
capital consumption
adjustments
Net cash flow with inventory
valuation and capital
consumption adjustments ...
Undistributed profits with
inventory valuation and
capital consumption
adjustments
Consumption of fixed
capital
Less: Inventory valuation
adjustment
Eauals: Net cash flow
III
Seasonally adjusted at annual rates
1997
I
IV
II
1995
III
1996
4,215.4 4,426.9 4,403.9 4,461.0 4,520.7 4,606.3 4,663.4 4,725.2
3,442.6 3,633.6 3,612.3 3,664.0 3,718.0 3,792.7 3,842.7 3,897.3
623.0 642.6 640.3 645.5 648.9 657.8 662.0 667.7
2,819.6 2,991.0 2,972.0 3,018.4 3,069.0 3,134.9 3,180.8 3,229.6
772.9
793.3
791.5
797.0
802.7
813.6
820.7
827.9
366.0
406.8
385.7
407.6
383.6
407.9
388.6
408.4
393.6
409.1
401.3
412.3
405.6
415.1
410.2
417.7
489.0
520.3
520.0
523.8
528.3
534.6
543.6
547.2
23.4
37.2
36.5
40.1
40.4
40.2
43.6
40.9
31.4
45.0
44.3
47.9
48.1
47.9
51.2
48.5
-7.9
-7.8
-7.8
-7.8
-7.8
-7.7
-7.6
-7.5
465.5
438.8
483.1
455.3
483.5
456.4
483.7
456.1
487.9
460.0
494.4
466.3
500.0
470.8
506.3
477.0
-.5
-2
-.1
.3
-.1
.6
2
27.2
28.0
28.3
27.8
27.5
28.1
28.7
29.1
132.8
179.8
146.3
193.3
144.6
191.0
148.0
195.5
149.2
197.3
149.0
197.9
148.7
197.6
148.0
197.7
-47.0
-47.0
-46.4
-47.5
-48.1
-48.9
-48.9
^9.7
650.0
735.9
738.5
739.6
747.8
779.6
795.1
827.3
598.4
622.6
213.2
409.4
264.4
145.0
674.1
676.6
229.0
447.6
304.8
142.8
676.8
682.2
232.2
450.0
303.7
146.4
676.4
679.1
231.6
447.5
305.7
141.8
683.4
680.0
226.0
454.0
309.1
144.9
711.9
708.4
241.2
467.2
326.8
140.3
725.7
719.8
244.5
475.3
333.0
142.3
757.1
753.4
258.2
495.2
339.1
156.1
-24.3
-2.5
-5.4
-2.7
3.3
3.5
5.9
3.6
51.6
61.8
61.6
63.2
64.4
67.7
69.4
70.3
425.1
425.1
422.5
430.9
430.6
440.5
448.1
451.8
436.7
506.9
506.3
508.0
521.8
538.4
550.6
569.1
601.3
654.3
651.1
657.8
674.6
678.9
690.2
707.9
172.4
202.1
202.6
202.3
212.6
211.5
217.6
230.0
428.9
452.3
448.5
455.5
462.0
467.4
472.6
478.0
-24.3
625.5
-2.5
-5.4
-2.7
656,8
656.5
660.5
3.3
671.3
3.5
675.5
5.9
684.4
3.6
704.3
1997
1996
II
5,912,3 6,254.5 6,229.4 6,303.3 6,376.5 6,510.0 6,599.0 6,699.6
-1.2
D-5
National Data
SURVEY OF CURRENT BUSINESS
January 1998
Hi
IV
I
II
III
Billions of dollars
Gross domestic product
of corporate business
Consumption of fixed capital
Net domestic product
Indirect business tax and
nontax liability plus
business transfer payments
less subsidies
Domestic income
Compensation of
employees
Wage and salary
accruals
Supplements to wages
and salaries
Corporate profits with
inventory valuation and
capital consumption
adjustments
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation
adjustment
Capital consumption
adjustment
Net interest
Gross domestic product
of financial corporate
business
Gross domestic product
of nonfinancial
corporate business
Consumption of fixed capital
Net domestic product
Indirect business tax and
nontax liability plus
business transfer payments
less subsidies
Domestic income
Compensation of
employees
Wage and salary
accruals
Supplements to wages
and salaries
Corporate profits with
inventory valuation and
capital consumption
adjustments
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation
adjustment
Capital consumption
adjustment
Net interest
4,348.5 4,624.9 4,601.8 4,661.0 4,733.2 4,824.8 4,897.2 4,989.2
428.9
452.3
448.5
455.5
462.0
467.4
472.6
478.0
3,919.6 4,172.6 4,153.3 4,205.5 4,271.2 4,357.4 4,424.6 4,511.3
439.6 463.9 458.0 460.9 485.0 465.9 474.4 483.1
3,480.0 3,708.7 3,695.3 3,744.6 3,786.2 3,891.5 3,950.2 4,028.2
2,781.1 2,926.7 2,910.4 2,951.4 2,997.9 3,056.5 3,098.2 3,142.3
2,296.4 2,433.5 2,417.2 2,456.3 2,500.7 2,550.7 2,588.0 2,627.6
484.7
493.2
493.2
495.1
497.3
505.8
510.2
514.7
563.2
535.9
213.2
322.7
236.9
640.0
580.7
229.0
351.6
270.8
645.2
589.0
232.2
356.8
265.8
647.8
587.4
231.6
355.7
265.6
640.3
572.5
226.0
346.5
281.6
682.2
611.0
241.2
369.8
292.7
694.4
619.1
244.5
374.5
293.6
85.8
80.8
91.0
90.1
64.9
77.1
80.9
727.5
653.5
258.2
395.3
292.0
103.3
-24.3
-2.5
-6.4
-2.7
51.6
61.8
61.6
63.2
64.4
67.7
69.4
70.3
135.6
142.1
139.7
145.4
148.0
152.8
157.6
158.4
443.2
492.5
488.9
495.2
513.2
525.1
536.1
543.0
3.3
3.5
5.9
3.6
3,905.3 4,132.4 4,112.9 4,165.8 4,220.1 4,299.7 4,361.1 4,446.3
373.4
393.4
390.2
396.2
401.8
406.3
410.7
415.3
3,531.9 3,739.0 3,722.7 3,769.7 3,818.3 3,893.4 3,950.4 4,031.0
399.8 421.8 420.2 423.7 430.0 432.2 437.0 445.3
3,132.1 3,317.2 3,302.5 3,345.9 3,388.3 3,461.2 3,513.3 3,585.7
2,555.5 2,682.9 2,668.6 2,704.7 2,745.3 2,801.9 2,840.1 2,880.6
2,107.9 2,228.6 2,214.2 2,248.7 2,287.5 2,335.8 2,370.0 2,406.3
447.5
454.4
454.4
456.0
457.8
466.0
470.1
474.2
474.6
438.3
139.4
298.9
188.3
110.6
545.8
477.2
154.8
322.4
196.4
126.0
542.8
477.4
154.1
323.3
194.3
129.1
553.3
483.4
156.8
326.6
191.8
134.8
561.7
484.4
159.0
325.5
199.4
126.1
575.4
494.5
159.4
335.1
207.0
128.2
586.7
501.5
161.8
339.8
208.1
131.7
618.2
534.2
174.1
360.1
207.7
152.4
-24.3
-2.5
-5.4
-2.7
60.5
71.1
88.5
70.8
91.2
72.6
88.0
102.0
3.3
74.0
81.3
3.5
77.4
83.9
5.9
79.3
86.6
3.6
80.4
87.0
Billions of chained (1992) dollars
Gross domestic product
of nonfinancial
corporate business 1 ...
Consumption of fixed 3capital2 ....
Net domestic product
3,719.7 3,887.8 3,872.4 3,913.7 3,963.5 4,022.2 4,068.9 4,146.5
357.8 374.4 371.8 376.6 381.7 396.0 402.2 408.2
3,361.9 3,513.5 3,500.6 3,537.1 3,581.8 3,626.2 3,666.7 3,738.3
1. Chained-dollar gross domestic product of nonfinancial corporate business equals the current-dollar product deflated by the implicit price deflator for goods and structures in gross domestic product.
2. Chained-dollar consumption of fixed capital of nonfinancial corporate business is calculated as the product
of the chain-type quantity index and the 1992 current-dollar value of the corresponding series, divided by 100.
3. Chained-dollar net domestic product of nonfinancial corporate business is the difference between the gross
product and the consumption of fixed capital.
D-6 « National Data
SURVEY OF CURRENT BUSINESS
January 1998
2, Personal Income and OutlaysTable 2.2.—Personal Consumption Expenditures by Major Type of
Product
Table 2.1—Personal Income and Its Disposition
[Billions of dollars]
ipmiuns ui uunarsj
Seasonally adjusted at annual rate 5
1995
1996
1996
II
Personal income
Wage and salary
disbursements
Private industries
Goods-producing
industries .
Manufacturing
Distributive industries .....
Service industries
Government
Other labor income
Proprietors' income with
inventory valuation and
capital consumption
adjustments
Farm
Nonfarm
Rental income of persons
with capital consumption
adiustment
Personal dividend income ...
Personal interest income
Transfer payments to
persons
Old-age, survivors,
disability, and health
insurance benefits
Government unemployment
insurance benefits
Veterans benefits
Government employees
retirement benefits
Other transfer payments ....
Family assistance *
Other
Less: Personal
contributions for social
insurance
Less: Personal tax and nontax
payments
Equals: Disposable personal
income
Less: Personal outlays
Personal consumption
expenditures
Interest paid by persons
Personal transfer payments to
the rest of the world (net)
Equals: Personal saving
Addenda:
Disposable personal income:
Total, billions of chained
(1992) dollars2
Per capita:
Current dollars
Chained (1992) dollars
Population (mid-period,
millions)
Personal saving as a
percentage of disposable
personal income
I
IV
III
Seasonally adjusted at annual rates
1997
II
1995
III
864.4 909.1 906.3 917.2 927.8 942.9 952.8
648.4 674.7 674.1 680.1 685.6 694.1 700.3
783.1 823.3 819.2 829.0 840.6 856.8 867.0
1,159.0 1,257.5 1,245.3 1,271.1 1,299.5 1,334.1 1,359.8
623.0 642.6 640.3 645.5 648.9 657.8 662.0
406.8
407.6
407.9
408.4
409.1
412.3
415.1
489.0
520.3
520.0
523.8
528.3
534.6
543.6
23.4
37.2
36.5
40.1
40.4
40.2
43.6
465.5
483.1
483.5
483.7
487.9
494.4
500.0
38961
3,228.4
961.4
706.0
8808
1 386 3
667t7
417-7
547 2
£\
506.3
132.8
146.3
144.6
148.0
149.2
149.0
148.7
•MB
SHOtW
251.9
291.2
290.0
292.0
295.2
312.5
318.3
324 5
718.9
735.7
727.8
742.7
749.8
757.2
766.1
772.6
1,015.0 1,068.0 1,064.8 1,072.4 1,081.5 1,107.2 1,117.0 1,125.7
507.8
537.6
535.4
540.0
545.6
558.9
564.4
21.4
20.8
22.0
21.6
22.1
21.9
21.3
21.7
21.6
21.4
22.1
22.4
21.9
22.4
133.6
331.4
142.5
344.2
142.2
343.3
143.7
345.7
145.9
347.0
150.4
353.5
152.7
355.6
23.3
21.7
22.0
21.6
20.7
19.7
19.0
308.0
322.5
321.3
324.2
326.2
333.8
336.6
306.3
305.0
308.2
311.5
318.2
5694
22.5
154.2
358 0
0!?-?
339
-8
324.8
979.2
mo
5,355.7 5,608.3 5,573.5 5,644.6 5,695.8 5,790.5 5,849.9
5,101.1 5,368.8 5,347.8 5,390.6 5,475.4 5,574.6 5,602.8
5,908.9
5,700.8
4,957.7 5,207.6 5,189.1 5,227.4 5,308.1 5,405.7 5,432.1
128.5 145.2 143.0 147.4 150.5
151.9
153.1
55274
155.1
795.1
886.9
887.8
897.3
922.6
955.7
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services
««»««»»
Housing
Household operation
ft
Electricity and gas
Other household operation
Transportation
Medical care
Other
III
IV
I
II
III
4,957.7 5,207.6 5,189.1 5,227.4 5,308.1 5,405.7 5,432.1 5,527.4
608.5
634.5
638.6
634.5
638.2
658.4
644.5
667.3
254.8
261.3
264.0
260.0
258.9
265.7
252.7
268.7
240.2
113.6
252.6
120.6
253.8
120.8
254.2
120.3
255.9
123.4
263.8
128.9
265.4
126.5
269.9
128.8
1,475.8 1,534.7 1,532.3 1,538.3 1,560.1 1,587.4 1,578.9 1,600.8
735.1
254.7
114.4
756.1
264.3
122.6
752.2
265.7
125.7
757.4
265.7
121.4
766.6
266.2
126.0
775.5
275.2
128.5
771.4
274.8
121.6
779.3
280.5
123.5
10.2
11.6
11.3
11.2
12.0
11.0
11.0
10.9
361.3
380.1
377.3
382.7
389.3
397.1
400.0
406.5
2,873.4 3,038.4 3,018.2 3,054.6 3,109.8 3,159.9 3,208.7 3,259.3
750.3
300.7
119.5
181.2
203.1
772.8
846.5
787.2
315.9
125.3
190.6
218.4
808.1
908.9
782.5
317.5
126.7
190.8
216.6
803.3
898.3
791.8
313.4
122.8
190.6
219.7
811.9
917.8
800.7
321.8
126.8
195.0
224.8
826.9
935.6
810.5
320.8
124.9
195.9
228.9
841.0
958.8
821.2 831.9
326.7 328.8
127.2 125.2
199.5
203.6
233.4 238.5
849.6 859.7
977.9 1,000.4
Table 2.3.— Real Personal Consumption Expenditures by Major Type of
Product
[Billions of chained (1992) dollars]
321.3
293.1
Personal consumption
expenditures
Durable goods
Motor vehicles and parts
Furniture and household
equipment
Other
Nondurable goods
1997
91 R
14.8
15.9
15.8
15.9
16.7
17.0
17.6
18.2
254.6
239.6
225.7
254.0
220.4
215.9
247.0
208 2
-
4,964.2 5,076.9 5,061.3 5,094.8 5,103.8 5,161.1 5,200.9 5,234.1
20,349 21,117 21,012 21,229 21,373 21,689 21,865 22,034
18,861 19,116 19,081 19,161 19,152 19,331 19,439 19,518
263.2
265.6
265.3
265.9
266.5
267.0
267.5
268.2
4.8
4.3
4,1
4.5
3.9
3.7
4,2
3.5
1. Consists of aid to families with dependent children and, beginning with 1996, assistance programs operating
under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996.
2. Equals disposable personal income deflated by the implicit price deflator for personal consumption expenditures.
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
II
6,150,8 6,495.2 6,461.3 6,541,9 6,618.4 6,746.2 6,829.1 6.906.9
3,429,5 3,632.5 3,611.2 3,662.8 3,716.9 3,791.5 3,841.6
2,806.5 2,989.9 2,970.9 3,017.3 3,067.9 3,133.7 3,179.6
1996
1996
Personal consumption
exoenditures
wp*™™
Durable goods
Motor vehicles and parts
Furniture and household
equipment
Other
fMnnHiirahla mv>ric
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services
Housing
Household operation
Electricity and gas
Other household operation
Transportation
Medical care
Other
Residual
4,595.3 4,714.1 4,712.2 4,718.2 4,756.4 4,818.1 4,829.4 4,896.2
583.6
611.1
614.8
611.9
617.1
637.8
629.0
656.1
229.5
231.3
234.2
229.7
228.0
233.4
223.1
238.7
248.4
107.2
269.5
113.3
269.9
113.4
272.3
113.2
276.8
116.3
287.4
121.4
292.3
119.7
301.1
121.7
1,412.6 1,432.3 1,431.6 1,433.9 1,441.2 1,457.8 1,450.0 1,465.5
690.5
257.5
113.1
689.7
267.7
114.1
690.3
268.4
114.5
687.3
270.8
114.1
689.0
270.0
114.8
10.5
10.6
10.4
10.6
10.3
341.3
351.2
349.1
352.5
358.3
694.6
277.1
114.7
9.4
363.7
688.2
273.8
116.1
689.5
281.3
116.2
10.1
10.4
363.4
370.0
2,599.6 2,671.0 2,666.5 2,672.8 2,698.2 2,723.9 2,749.8 2,776.1
688.2
282.9
115.0
167.8
185.2
674.9
769.1
700.2
289.6
117.8
171.7
194.6
688.1
799.4
698.7
292.0
119.7
172.3
193.8
686.2
796.8
701.7
285.8
114.8
170.9
195.4
689.8
800.8
704.8
291.7
117.7
173.9
197.0
697.1
808.4
708.3
288.0
113.8
174.0
199.3
704.4
824.3
712.0
294.2
117.8
176.2
200.9
708.8
834.5
715.6
295.7
115.7
179.7
203.9
714.2
847.1
-2.9
-5.1
-5.5
-5.7
-6.0
-7.7
-7.5
-8.9
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.
January 1998
National Data
SURVEY OF CURRENT BUSINESS
3. Government Receipts, Current Expenditures, and Gross Investment.
Table 3.10—Government Receipts and Current Expenditures
[Billions of dollars]
Seasonally adjusted at annual rates
1995
1996
1996
II
Receipts
Personal tax and nontax receipts
Corporate profits tax accruals ..
Indirect business tax and nontax accruals
Contributions for social insurance
Current expenditures
Consumption expenditures
Transfer payments (net)
To persons
I.
To the rest of the world (net)
Net interest paid
Interest paid
To persons and business
To the rest of the world
Less: Interest received by government
Less: Dividends received by government
Subsidies less current surplus of government enterprises
Subsidies
Less: Current surplus of government enterprises
Less: Wage accruals less disbursements
Current surplus or deficit (-), national income and product accounts
Social insurance funds
Other
1997
I
IV
III
III
II
2,250.2 2,412.7 2,407.6 2,426.7 2,479.0 2,526.6 2,566.8 2,616.7
795.1
213.2
582.8
659.1
886.9
229.0
604.8
692.0
887.8
232.2
599.0
688.7
897.3
231.6
600.9
696.8
922.6
226.0
625.3
705.1
955.7
241.2
610.2
719.5
979.2
244.5
616.2
726.9
998.0
258.2
625.4
735.0
2,321.6 2,417.8 2,404.8 2,423.6 2,455.8 2,477.4 2,498.7 2,516.1
1,142.1 1,182.4 1,180.7 1,189.8 1,197.0 1,209.7 1,221.6 1,230.8
1,001.5 1,058.3 1,050.2 1,058.2 1,078.0 1,091.0 1,100.8 1,108.5
990.0 1,042.0 1,039.0 1,046.3 1,055.1 1,080.5 1,090.0 1,098.4
11.5
16.3
11.2
11.9
22.9
10.5
10.8
10.0
165.2
314.1
252.8
165.4
317.7
246.4
162.3
314.6
247.3
164.4
318.1
244.1
168.8
320.7
241.3
164.9
317.9
233.3
164.9
319.1
227.9
165.6
319.7
225.9
61.3
71.3
67.3
74.0
79.4
148.9
152.3
152.3
153.7
152.0
84.6
153.0
91.2
154.1
93.9
154.1
12.5
13.6
13.6
13.7
14.0
14.3
14.7
14.7
25.2
34.0
25.4
33.5
25.2
33.3
24.9
33.5
26.0
33.7
26.1
34.1
26.0
34.6
25.8
34.7
8.8
8.1
8.1
8.5
7.7
8.0
8.6
0
0
0
0
0
0
0
-5.1
2.8
3.1
23.2
49.2
68.1
100.6
129.9
-80.7
132.0
-63.9
135.8
-35.1
-71.4
124.7 129.7 132.0
124.7 126.6
-196.0 -131.7 -121.9 -126.6 -108.8
8.8
0
D-7
D-8 • National Data
Table 3.2.—Federal Government Receipts and Current Expenditures
Table 3.3.—State and Local Government Receipts and Current
Expenditures
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
1995
1996
1996
II
Receipts .
Personal tax and nontax receipts
Income taxes
Estate and gift taxes
Nontaxes
Corporate profits tax accruals ....
Federal Reserve banks
Other
Indirect business tax and nontax
accruals . . .. ....
Excise taxes
......
Customs duties
Nontaxes
Contributions for social insurance
Current expenditures
Consumption expenditures
Transfer payments (net)
To persons
To the rest of the world (net)
Grants-in-aid to State and local
governments
Net interest paid
Interest paid
To persons and business
To the rest of the world
Less: Interest received by
government
Subsidies less current surplus of
Government enterprises
Subsidies
Less: Current surplus of
government enterprises
Less: Wage accruals less
disbursements
Current surplus or deficit
(-), national income
and product accounts
Social insurance funds
Other
January 1998
SURVEY OF CURRENT BUSINESS
I
IV
ill
Seasonally adjusted at annual rates
1997
II
1995
III
1996
1996
II
1,463.2 1,587,6 1,583.8 1,598.6 1,641.6 1,675.3 1,709.3 1,741.8
605.8
588.7
686.7
666.8
688.8
668.6
695.7
674.8
717.5
697.2
746.9
725.0
767.9
744.1
781.9
758.5
14.9
17.5
17.8
18.4
17.7
19.3
21.1
20.7
2.2
2.5
2.4
182.1
194.5
197.2
196.7
192.0
23.4
20.1
20.0
20.1
20.4
158.7
174.4
177.2
176.6
171.7
93.5
58.1
19.4
16.1
95.8
56.4
19.2
20.2
90.0
54.9
19.5
15.6
581.8
610.5
607.8
2.5
91.5
55.7
20.2
15.5
614.8
2.6
110.2
59.6
16.8
33.7
622.0
2.6
2.6
2.7
204.9
207.7
219.3
20.9
21.2
21.7
184.0
186.5
197.7
92.2
59.0
20.5
12.7
92.4
59.0
20.9
12.6
88.2
56.5
18.6
13.2
635.3
641.5
648.2
1,637.6 1,698.1 1,695.4 1,698.2 1,718.8 1,730.8 1,746.0 1,752.6
443.5
451.5
453.7
454.0
453.6
458.0
464.2
464.7
720.9
709.4
763.5
747.2
757.5
746.3
761.5
749.7
777.3
754.4
785.9
775.5
791.4
780.5
794.5
784.5
11.5
16.3
11.2
11.9
22.9
10.5
10.8
10.0
211.9
218.3
223.2
218.7
217.5
219.6
222.5
224.2
224.8
250.0
188.7
227.1
253.1
181.8
223.5
250.1
182.7
226.6
253.4
179.5
231.8
256.1
176.7
228.9
253.2
168.7
229.8
254.4
163.3
231.2
255.1
161.2
61.3
71.3
67.3
74.0
79.4
84.6
91.2
93.9
25.2
26.0
26.6
26.9
24.3
24.4
24.6
23.9
36.4
33.7
37.7
33.1
37.5
33.0
37.4
33.1
38.5
33.4
38.4
33.8
38.1
34.3
37.9
34.3
-2.7
-4.6
-4.5
-4.2
-5.1
-4.7
-3.9
-3.6
0
0
0
0
0
0
0
0
-174.4 -110.5 -111.6
54.1
55.3
53.3
-99.5
-77.1
-55.5
58.2
60.6
58.7
-228.6 -165.8 -165.0 -157.8 -137.7 -114.2
-36.8
-10.8
60.4
64.4
-97.2
-75.2
Receipts .
Personal tax and nontax receipts
Income taxes
Nontaxes
Other
Corporate profits tax accruals ....
Indirect business tax and nontax
accruals
Sales taxes
Property taxes
Other
Contributions for social insurance
Federal grants-in-aid
Current expenditures
Consumption expenditures
Transfer payments to persons ...
Net interest paid
Interest paid
Less: Interest received by
government
„
Less: Dividends received by
government
Subsidies less current surplus of
government enterprises
Subsidies
Less: Current surplus of
government enterprises
Less: Wage accruals less
disbursements
Current surplus or deficit
(-), national income
and product accounts
Social insurance funds
Other
1997
I
IV
III
II
ill
999.0 1,043.4 1,046.9 1,046.7 1,054.9 1,070.9 1,080.0 1,099.1
189.4
140.3
200.2
149.1
198.9
148.2
201.7
150.3
205.1
153.1
208.7
155.7
211.3
157.4
216.1
161.2
26.7
22.4
28.8
22.3
28.5
22.2
29.1
22.3
29.6
22.5
30.1
22.9
30.7
23.3
31.3
23.7
31.1
34.5
35.0
34.9
34.0
36.4
36.8
38.9
489.3
239.4
197.4
508.9
249.8
202.3
508.9
250.4
201.5
509.4
249.6
203.0
515.1
251.9
204.7
522.0
256.2
206.2
524.0
255.6
207.8
533.0
258.4
209.4
52.5
56.8
57.1
56.8
58.5
59.6
60.6
65.2
77.3
81.4
80.9
82.0
83.1
84.2
85.4
86.8
211.9
218.3
223.2
218.7
217.5
219.6
222.5
224.2
895.9
938.0
932.5
944.2
954.5
966.1
975.1
987.7
698.6
730.9
727.0
735.9
743.3
751.7
757.4
766.1
280.6
294.8
292.7
296.6
300.6
305.1
309.5
314.0
-59.6
-61.7
-61.2
-62.2
-63.0
-64.0
-64.9
-65.6
64.1
64.6
64.6
64.6
64.7
64.6
64.6
64.6
123.7
126.3
125.7
126.8
127.7
128.6
129.5
130.3
12.5
13.6
13.6
13.7
14.0
14.3
14.7
14.7
-11.2
.3
-12.3
.3
-12.3
.3
-12.4
.3
-12.5
.3
-12.3
.3
-12.2
.3
-12.1
.3
11.5
12.7
12.7
12.8
12.8
12.7
12.5
12.4
0
0
0
0
0
0
0
0
103.1
105.3
114.4
102.6
100.4
104.7
104.9
111.4
70.5
32.5
71.3
34.1
71.3
43.1
71.5
31.1
71.4
28.9
71.3
33.5
71.6
33.3
71.4
40.0
National Data • D-9
SURVEY OF CURRENT BUSINESS
January 1998
Table 3.7.—Government Consumption Expenditures and Gross
Investment by Type
Tabie 3.8.—Real Government Consumption Expenditures and Real Gross
Investment by Type
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
1995
1996
1996
II
Government consumption
expenditures and 1
gross investment
Federa!
National defense
Consumption expenditures
Durable goods2
Nondurable goods
Services
Compensation of
general government
employees, except
force-account3
construction
Consumption of
general government
fixed capital4
Other services
Gross investment
Structures
Equipment
Nondefense
Consumption expenditures
Durable goods2
Nondurable goods
Commodity Credit
Corporation
inventory change ...
Other nondurables .....
Services
Compensation of
general government
employees, except
force-account
construction3
Consumption of
general government
fixed capital 4
Other services
Gross investment
Structures
Equipment
State and local
Consumption expenditures
Durable goods2
Nondurable goods
Services
Compensation of general
government
employees, except
force-account3
construction
Consumption of general
government
fixed
capital 4
Other services
Gross investment
Structures
Eauioment
Addenda:
Compensation of general 3
government employees ....
Federal
State and local
III
Seasonally adjusted at annual rates
1995
1997
IV
I
II
509.6
520.0
524.6
521.6
517.6
516.1
526.1
525.7
344.6
298.6
352.8
305.7
357.3
307.8
354.8
309.3
350.6
307.6
343.3
306.4
350.6
311.3
352.1
311.6
21.1
22.3
23.7
24.7
20.6
20.6
21.9
20.5
6.3
271.2
7.9
275.6
8.3
275.9
8.5
276.1
7.2
279.8
7.6
278.2
6.8
282.7
7.2
283.9
131.5
135.2
135.4
135.9
134.7
136.8
136.1
135.8
57.5
82.3
46.0
57.3
83.0
47.0
57.6
82.8
49.5
57.2
83.0
45.5
57.1
87.9
42.9
57.1
84.3
37.0
57.0
89.6
39.3
56.9
91.2
40.5
6.8
7.3
6.6
6.6
6.3
6.2
6.2
39.6
40.2
42.2
38.8
36.3
30.7
33.1
34.3
165.0
144.9
.8
6.5
167.3
145.7
.9
5.7
167.3
145.9
1.0
5.7
166.8
144.6
.7
5.2
167.0
146.0
.5
5.6
172.8
151.7
.9
6.6
175.5
152.9
.8
6.7
173.6
153.1
.6
6.6
-.2
6.7
137.6
-.4
6.1
139.2
-.5
6.2
139.2
-.5
5.8
138.7
-.3
5.9
139.9
0
6.6
144.2
-.2
6.8
145.5
-.2
6.8
145.9
75.8
77.5
77.6
77.6
77.8
80.6
81.4
81.4
10.7
51.1
20.1
11.0
11.2
50.4
21.5
11.2
50.5
21.4
11.6
11.3
49.8
22.1
11.3
10.9
11.4
50.7
21.0
11.4
11.5
52.0
21.1
11.2
11.8
52.7
20.5
10.9
9.6
9.9
11.7
52.5
22.6
10.5
12.0
9.1
11.3
10.2
9.9
9.6
846.0
698.6
886.7
730.9
882.4
727.0
891.9
735.9
904.7
743.3
917.0
751.7
923.0
757.4
932.3
766.1
14.7
73.0
15.3
78.2
15.2
78.2
15.4
78.3
15.5
80.3
15.6
81.0
15.7
79.9
15.9
80.3
610.9
637.5
633.6
642.2
647.6
655.1
661.8
669.9
525.5
547.2
544.0
551.1
555.4
561.1
566.7
573.7
54.2
31.2
56.6
33.7
56.3
33.3
56.8
34.3
57.3
34.9
58.1
36.0
58.7
36.3
59.2
37.0
147.4
121.0
155.7
128.5
155.3
128.1
156.0
128.6
161.4
133.9
165.2
137.7
165.6
138.0
166.2
138.5
26.4
27.3
27.2
27.4
27.4
27.5
27.6
27.7
736.5
207.3
529.2
763.9
212.8
551.0
761.0
213.1
547.9
768.5
213.5
555.0
772.0
212.6
559.4
782.7
217.5
565.2
788.4
217.5
570.9
795.2
217.3
577.9
1. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
2. Consumption expenditures for durable goods excludes expenditures classified as investment, except for goods
transferred to foreign countries by the Federal Government.
3. Compensation of government employees engaged in new force-account construction and related expenditures
for goods and services are classified as investment in structures. The compensation of all general government employees is shown in the addenda.
4. Consumption of fixed capital, or depreciation, is included in government consumption expenditures as a partial
measure of the value of the services of general government fixed assets; use of depreciation assumes a zero
net return on these assets.
1996
II
III
1,355.5 1,406.7 1,407.0 1,413.5 1,422.3 1,433.1 1,449.0 1,457.9
6.4
•fOQft
I%79U
Government consumption
expenditures and 1
gross investment
Federal
National defense
Consumption expenditures
Durable goods2
Nondurable goods
Services
Compensation of
general government
employees, except
force-account3
construction
Consumption of
general government
fixed capital4
Other services
Gross investment
Structures
Equipment
Nondefense
Consumption expenditures
Durable goods2
Nondurable goods
Commodity Credit
Corporation
inventory change ...
Other nondurables .....
Services
Compensation of
general government
employees, except
force-account3
construction
Consumption of
general government
fixed capital4
Other services
Gross investment
Structures
Equipment
State and local
Consumption expenditures
Durable goods2
Nondurable goods
Services
Compensation of general
government
employees, except
force-account3
construction
Consumption of general
government
fixed
capital4
Other services
Gross investment
Structures
Equipment
Residual
Addenda:
Compensation of general 3
government employees ....
Federal
State and local
III
1997
IV
I
II
III
1,251.9 1,257.9 1,265.1 1,261.5 1,261.8 1,260.5 1,270.1 1,273.4
470.3
464.2
470.7
465.7
459.6
452.8
460.1
458.8
322.6
280.6
317.8
275.5
323.2
278.4
319.4
278.1
313.6
274.4
303.9
270.3
309.4
273.9
310.3
273.6
20.8
21.8
23.0
24.1
20.2
20.0
21.2
19.9
6.3
253.2
7.2
246.5
7.6
247.8
7.8
246.3
6.2
247.8
6.6
243.5
6.3
246.3
6.9
246.6
122.3
117.2
118.0
117.2
115.4
114.5
113.3
113.0
52.5
78.4
42.1
51.4
78.0
42.3
51.6
78.3
44.9
51.3
77.9
41.4
51.0
81.6
39.2
50.8
78.4
33.5
50.5
83.0
35.4
50.3
83.9
36.7
5.4
5.6
6.0
5.4
5.4
5.0
4.9
4.9
36.5
36.5
38.7
35.8
33.7
28.2
30.3
31.7
147.5
128.0
1.0
5.8
146.1
125.3
1.1
5.1
147.2
126.5
1.2
5.2
146.0
124.6
1.1
4.7
145.7
125.1
.9
5.1
148.5
127.7
1.2
6.0
150.2
128.2
1.2
6.0
148.0
127.8
1.0
5.9
-.2
6.0
121.3
-.2
5.4
119.1
-.3
5.4
120.2
-.4
5.1
118.9
-.2
5.3
119.1
0
6.0
120.6
-.2
6.1
121.1
-.2
6.1
120.9
62.9
61.3
62.3
61.7
61.4
61.6
61.9
61.5
10.3
48.5
19.4
10.0
10.8
47.4
21.0
10.0
11.1
10.7
47.5
20.8
10.2
10.6
10.8
46.7
21.6
10.0
11.9
11.0
47.2
20.6
10.0
10.7
11.1
48.3
20.8
11.2
48.6
22.2
•48.7
11.3
13.8
11.2
781.6
646.0
793.7
653.6
794.4
654.2
795.9
655.7
802.3
657.8
807.7
661.1
810.1
664.3
814.7
668.6
13.9
69.2
14.4
71.5
14.3
71.1
14.5
71.8
14.6
72.5
14.7
73.2
14.8
73.8
14.9
74.4
563.0
567.9
568.9
569.6
570.9
573.5
576.0
579.5
478.2
479.9
481.1
481.5
482.0
483.5
485.4
488.2
9.4
9.3
37.3
52.6
37.9
52.9
38.8
53.2
39.0
53.5
39.6
144.5
116.6
146.6
118.4
145.8
117.2
146.1
117.2
27.3
27.6
28.0
28.3
28.6
29.1
-1.6
-2.4
-2.2
-2.1
-3.1
-3.0
664.0
179.4
484.9
662.3
177.2
485.4
663.2
176.5
487.1
664.1
175.6
489.0
666.2
175.0
491.7
52.0
37.4
51.9
37.3
140.1
112.8
140.2
112.9
26.1
27.4
-2.1
661.9
178.9
483.2
665.0
180.7
484.5
667.0
185.5
481.6
9.1
140.1
112.6
50.7
35.1
135.6
109.5
-.9
522
9.8
11.3
20.3
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, excluding the
lines in the addenda.
See footnotes to table 3.7.
D-10 • National Data
SURVEY OF CURRENT BUSINESS
January 1998
Table 3.10.—National Defense Consumption Expenditures and Gross
Investment
Table 3.11.—Real National Defense Consumption Expenditures and Real
Gross Investment
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1995
1996
1996
II
National defense
consumption
expenditures and
gross investment '
Consumption expenditures
Durable goods2
Aircraft
Missiles
Ships
Vehicles
Electronics
Other durable goods
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods ....
Services
Compensation of general
government employees,
except force-account
construction 3
Military
Civilian
Consumption of general
government
fixed
capital4
Other services
Research and
development
Installation support
Weapons support
Personnel support
Transportation of
material
Travel of persons
Other
Gross investment
Structures
Equipment
Aircraft
Missiles
Ships
Vehicles
Electronics
Other equipment
Addendum:
Compensation of general 3
government employees ....
III
1995
1997
IV
344.6
352.8
357.3
354.8
350.6
343.3
350.6
352.1
298.6
305.7
307.8
309.3
307.6
306.4
311.3
311.6
21.1
22.3
23.7
10.2
24.7
10.6
20.6
20.6
21.9
10.1
20.5
8.7
3.1
1.2
1.1
2.5
4.5
9.7
3.2
.9
1.0
2.6
5.0
3.2
.9
1.0
2.9
5.5
3.8
1.3
1.1
2.9
5.0
9.2
2.8
.6
.9
2.3
4.8
9.2
2.8
.7
1.2
2.5
4.1
3.1
.7
.9
2.6
4.4
9.2
3.2
.7
.8
2.6
4.0
6.3
7.9
8.3
8.5
7.2
7.6
6.8
7.2
2.8
1.2
2.4
3.4
1.1
3.4
3.4
1.5
3.4
4.1
1.1
3.3
3.0
.7
3.6
3.1
1.5
3.0
3.0
1.1
2.7
3.0
1.1
3.2
271.2
275.6
275.9
276.1
279.8
278.2
282.7
283.9
131.5
135.2
135.4
135.9
134.7
136.8
136.1
135.8
82.1
49.4
85.8
49.4
85.7
49.7
86.3
49.5
86.2
48.5
87.1
49.7
86.7
49.4
86.8
49.0
57.5
82.3
57.3
83.0
57.6
82.8
57.2
83.0
57.1
87.9
57.1
84.3
57.0
89.6
56.9
91.2
20.9
27.7
23.5
27.4
22.9
28.2
24.2
28.3
26.2
26.4
25.8
25.9
27.5
26.7
25.9
27.9
8.3
18.3
4.3
4.5
6.3
19.0
4.7
4.3
5.9
18.5
5.0
4.3
5.4
18.8
4.7
4.2
8.0
20.5
4.7
4.1
5.9
20.2
4.5
3.9
6.9
22.4
4.2
3.9
7.7
23.3
4.1
3.7
-1.7
-2.1
-2.0
-2.6
-1.9
-1.8
-2.0
-1.5
46.0
47.0
49.5
45.5
42.9
37.0
39.3
40.5
6.4
39.6
9.0
4.6
8.0
.9
3.5
13.5
131.5
6.8
40.2
9.3
4.1
6.8
.9
3.6
15.5
135.2
7.3
42.2
10.0
4.3
7.2
.9
3.7
16.0
135,4
6.6
38.8
7.6
43
&6
.9
4.0
15.5
135.9
6.6
36.3
5.9
3.7
6.3
.8
3.2
16.3
134.7
6.3
30.7
4.7
2.9
5.6
1.0
3.3
13.2
136.8
6.2
33.1
4.0
3.4
6.7
13
34
14.3
136.1
6.2
34.3
6.8
2.9
6.4
1.3
3.3
13.5
135.8
1. Gross government investment consists of general government and government enterprise expenditures for fixed
assets; inventory investment is included in government consumption expenditures.
2. Consumption expenditures for durable goods excludes expenditures classified as investment, except for goods
transferred to foreign countries.
3. Compensation of government employees engaged in new force-account construction and related expenditures
for goods and services are classified as investment m structures. The compensation of all general government employees is shown in the addendum.
4. Consumption of fixed capital, or depreciation, is included in government consumption expenditures as a partial
measure of the value of the services of general government fixed assets; use of depreciation assumes a zero
net return on these assets.
1996
1996
II
III
II
I
National defense
consumption
expenditures and l
gross investment
Consumption expenditures
Durable goods2
Aircraft
Missiles
Ships
Vehicles
Electronics
Other durable goods
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods ....
Services
Compensation of general
government employees,
except force-account
construction3
Military
Civilian
Consumption of general
government
fixed
capital 4
Other services
Research and
development
Installation support
Weapons support
Personnel support
Transportation of
material
Travel of persons
Other
Gross investment
Structures
Eauioment
Aircraft
Missiles
Ships
Vehicles
Electronics
Other equipment
Residual
Addendum:
Compensation of general 3
government employees ....
1997
III
IV
I
III
II
322.6
317.8
323.2
319.4
313.6
303.9
309.4
310.3
280.6
275.5
278.4
278.1
274.4
270.3
273.9
273.6
20.8
21.8
23.0
24.1
10.2
20.2
20.0
21.2
19.9
9.8
3.1
.7
.9
2.8
4.0
8.9
3.2
.7
.7
2.8
3.7
6.6
6.3
6.9
2.6
1.3
2.8
2.9
.9
2.6
3.1
.9
3.0
247.8
243.5
246.3
246.6
117.2
115.4
114.5
113.3
1-13.0
76.7
40.6
76.1
39.4
75.5
39.0
74.8
38.6
74.9
38.2
51.6
78.3
51.3
77.9
51.0
81.6
50.8
78.4
50.5
83.0
50.3
83.9
23.1
25.8
24.3
25.6
26.0
23.8
25.7
23.5
27.1
24.2
25.4
25.2
8.9
3.1
.5
.9
2.4
4.4
8.9
2.9
.7
1.2
2.6
3.8
7.8
6.2
3.7
1.0
3.1
2.4
.6
3.4
247.8
246.3
117.2
118.0
76.9
40.4
77.0
41.1
52.5
78.4
51.4
78.0
20.8
25.5
23.5
24.9
8.5
3.4
1.2
1.0
2.5
4.3
9.3
3.4
.8
.9
2.7
4.6
9.8
3.5
.8
1.0
3.0
5.0
6.3
7.2
7.6
3.1
1.1
2.2
3.1
1.0
3.2
3.2
1.2
3.2
253.2
246.5
122.3
79.8
42.6
7.8
17.4
4.1
4.2
5.7
17.2
4.7
4.1
5.3
16.9
4:9
4.2
4.0
1.2
1.1
3.0
4.6
4.9
17.0
4.6
4.0
7.1
18.1
4.6
3.8
5.2
17.7
4.4
3.6
6.1
19.8
4.1
3.6
6.7
20.5
4.0
3.4
-1.6
-1.9
-1.8
-2.3
-1.6
-1.6
-1.7
-1.3
42.1
42.3
44.9
41.4
39.2
33.5
35.4
36.7
5.4
36.5
7.2
4.7
7.2
.8
3.9
12.8
5.6
36.5
7.1
4.4
6.1
.8
4.4
14.1
6.0
38.7
8.1
4.5
6.5
.8
4.6
14.5
5.4
35.8
6.4
4.5
5.9
.7
5.0
13.9
.2
-.6
-.6
-1.0
122.3
117.2
118.0
117.2
5.4
33.7
5.0
4.0
5.6
.7
4.2
14.7
-.9
115.4
5.0
28.2
4.0
2.9
4.9
.9
4.3
11.8
4.9
30.3
3.3
3.4
5.9
1.1
4.6
12.7
-.5
-1.3
114.5
113.3
4.9
31.7
5.9
2.9
5.6
1.1
4.5
12.0
-.9
113.0
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.
The residual line is the difference between the first line and the sum of the most detailed lines, excluding the
line in the addendum.
See footnotes to table 3.10.
National Data • D-ll
SURVEY OF CURRENT BUSINESS
January 1998
4. Foreign Transactions.
Table 4.1—Foreign Transactions in the National Income and Product
Accounts
Table 4.2—Real Exports and Imports of Goods and Services and
Receipts and Payments of Factor Income
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1995
1996
1996
II
Receipts from the rest of
the world
1997
I
IV
III
II
1,041.2 1,105.1 1,092.0 1,099.0 1,153.4 1,170.4 1,221.9 1,235.2
870.9
617.5
421.2
196.3
253.3
865.0
613.9
420.4
193.5
251.1
863.7
609.7
415.8
193.9
254.0
904.6
640.5
438.8
201.6
264.2
922.2
656.2
455.9
200.3
266.0
960.3
690.0
486.3
203.7
270.3
965.8
691.1
485.6
205.4
274.8
Receipts of factor income
222.8
234.3
227.1
235.4
248.8
248.2
261.6
269.4
0
904.5
757.5
510.3
247.3
146.9
Payments of factor income
Net foreign investment
0
0
0
0
0
0
1,041.2 1,105.1 1,092.0 1,099.0 1,153.4 1,170.4 1,221.9 1,235.2
Imports of goods and services ...
Goods l
Durable
Nondurable
Services!
Transfer payments (net)
From persons (net)
From government (net)
From business
0
965.7
809.0
533.6
275.5
156.7
958.7
802.9
529.6
273.4
155.8
977.6
820.2
540.3
279.8
157.5
993.2 1,021.0 1,049.0 1,077.1
834.6 855.8 880.1 905.6
541.3 563.4 583.8 603.2
293.3 292.5 296.3 302.4
158.6 165.2 168.9 171.6
217.5
232.6
224.3
242.3
245.6
262.5
282.3
290.1
33.6
14.8
11.5
39.8
15.9
16.3
34.7
15.8
11.2
35.4
15.9
11.9
47.4
16.7
22.9
35.2
17.0
10.5
36.5
17.6
10.8
36.9
18.2
10.0
7.3
7.6
7.6
7.7
7.8
7.7
8.1
8.7
-114.4 -132.9 -125.6 -156.4 -132.9 -148.4 -146.0 -168.9
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included in services. Beginning with 1986, repairs and alterations of equipment were reclassified from
goods to services,
791.2
573.9
411.2
164.1
218.0
857.0
628.4
463.3
169.1
229.9
847.4
619.2
459.1
164.5
229.3
II
818.4
583.9
394.3
189.6
234.6
Payments to the rest of
the world
1996
III
Exports of goods and services ...
Goods l
Durable
Nondurable
Services l
Capital grants received by the
United States (net)
1996
1995
Exports of goods and services
Goods l
.
Durable
Nondurable
Services 1
1997
IV
I
II
III
851.4
623.0
460.8
166.4
229.4
901.1 922.7
666.2 686.2
494.0 517.0
177.0 176.0
236.8 238.9
962.5
725.8
555.8
179.2
240.8
973.0
731.8
559.8
181.1
245.0
226.0
236.3
242.5
III
Receipts of factor income
207.7
214.2
208.1
214.8
Imports of goods and services
Goods1
Durable
Nondurable
Services *
890.1
749.2
511.7
237.2
141.2
971.5
823.1
569.9
253.5
149.0
960.0
811.7
559.8
251.9
148.8
990.2 1,006.6 1,048.9 1,099.1 1,137.1
841.7 857.5 891.3 938.4 972.7
582.6 596.6 630.8 660.7 688.5
259.4 261.6 263.3 280.1 287.2
149.3 150.0 158.4 161.8 165.8
Payments of factor income
200.7
210.2
203.7
218.1
219.8
224.6
234.0
250.8
256.9
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods
to services.
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.
D-12 9 National Data
SURVEY OF CURRENT BUSINESS
January 1998
Table 43 —Exports and Imports of Goods and Services by Type of
Product
Table 4.4.—Real Exports and Imports of Goods and Services by Type of
Product
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasona ly adjus ted at arinual rates
Seasonally adjusted at annual rates
1995
Exports of goods and
services
Exports of goods 1
Foods, feeds, and beverages
Industrial supplies and
materials
Durable goods
Nondurable goods
Capital goods, except
automotive
Civilian aircraft, engines,
and parts
Computers, peripherals,
and parts
Other
Automotive vehicles, engines,
and parts
Consumer goods, except
automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Exports of services *
Transfers under U.S. military
agency sales contracts
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Other
Imports of goods and
services
imports of goods *
Foods, feeds, and beverages
Industrial supplies and
materials, except petroleum
and products
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except
automotive
Civilian aircraft, engines,
and parts
Computers, peripherals,
and parts
Other
. ...
Automotive vehicles, engines,
and parts
Consumer goods, except
automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Imports of services 1 .
Direct defense expenditures ...
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Other
Addenda:
Exports of agricultural goods2
Exports of nonagricultural
goods
Imports of nonpetroleum
aoods
1996
1996
II
III
1995
1997
I
IV
II
II
818.4
870.9
865.0
863.7
904.6
922.2
960.3
965.8
583.9
617.5
613.9
609.7
640.5
656.2
690.0
691.1
50.5
55.5
55.0
55.1
55.8
51.1
48.6
49.6
141.3
141.0
138.5
139.5
145.9
147.4
154.0
155.3
49.8
91.4
51.0
90.1
51.2
87.3
51.0
88.5
51.9
94.0
53.2
94.3
55.7
98.3
55.5
99.8
233.8
253.1
252.6
246.8
265.3
275.9
296.9
298.4
26.1
30.8
33.3
26.8
36.7
39.6
45.5
36.3
39.7
43.7
43.4
43.5
43.3
46.3
50.1
52.6
168.0
178.6
175.9
176.5
185.2
190.0
201.3
209.5
61.8
65.0
64.2
66.2
67.0
70.9
73.4
73.1
64.4
32.8
31.6
32.1
16.1
16.1
70.1
35.8
34.3
32.7
16.3
16.3
69.9
35.7
34.3
33.6
16.8
16.8
69.4
35.5
33.9
32.7
16.3
16.3
72.9
37.8
35.1
33.5
16.8
16.8
75.3
38.1
37.2
35.6
17.8
17.8
78.9
41.2
37.7
38.2
19.1
19.1
77.0
39.8
37.2
37.7
18.8
18.8
234.6
253.3
2511
254.0
264.2
266.0
270.3
274.8
12.8
63.4
19.1
27.4
27.4
65.5
18.9
13.5
69.9
20.6
27.2
30.0
72.2
19.9
14.9
69.4
19.8
27.2
29.4
71.2
19.2
12.8
70.6
20.9
26.9
30.0
72.4
20.4
14.9
72.7
21.1
28.6
30.8
75.2
20.8
12.3
74.5
21.3
28.2
30.9
77.7
21.0
14.0
72.6
21.2
28.8
31.9
80.2
21.5
14.2
74.1
21.5
29.2
31.8
82.5
21.6
904.5
965.7
958.7
977.6
993.2 1,021.0 1,049.0 1,077.1
757.5
809.0
802.9
820.2
834.6
855.8
880.1
905.6
33.2
35.7
35.9
35.8
36.7
38.0
40.0
40.5
119.9
125.2
123.5
127.1
128.7
130.7
134.3
137.6
59.8
60.1
56.2
63.1
62.1
72.7
63.0
60.4
74.1
64.7
62.4
76.2
64.9
63.8
82.2
65.7
65.0
76.7
69.4
64.9
71.0
70.3
67.3
70.4
221.4
229.0
226.3
227.4
231.4
237.3
251.7
262.5
10.7
12.7
12.8
13.0
14.0
13.6
15.5
19.0
56.3
61.5
60.8
61.7
62.8
65.5
70.5
73.6
154.4
154.9
152.8
152.7
154.6
158.2
165.6
169.9
123.8
128.9
129.1
133.7
128.9
142.2
138.3
143.7
159.9
171.0
167.6
173.2
179.4
181.2
192.0
195.1
83.7
76.2
43.2
21.6
21.6
89.3
81.7
46.4
23.2
23.2
87.9
79.7
46.5
23.2
23.2
91.2
82.0
46.7
23.4
23.4
92.4
87.0
47.2
23.6
23.6
93.2
88.0
49.6
24.8
24.8
98.0
94.1
52.8
26.4
26.4
98.8
96.3
55.8
27.9
27.9
146.9
156.7
9.9
10.9
48.7
15.8
28.5
46.1
14.4
28.3
155.8
11.0
48.4
15.8
29.0
157.5
158.6
11.1
47.7
15.7
28.9
10.9
49.0
16.2
28.7
6.5
7.3
6.7
8.6
7.1
35.4
38.9
38.4
38.9
40.0
6.3
6.6
6.5
6.7
6.8
165.2
168.9
171.6
11.2
52.3
17.1
29.3
11.4
52.6
17.2
30.0
11.5
53.0
17.6
29.9
7.6
40.9
6.8
8.4
42.4
6.8
8.8
43.9
6.9
57.2
61.5
60.3
60.4
61.8
57.3
56.4
58.1
526.6
556.0
553.5
549.3
578.7
598.9
633.5
632.9
701.4
736.3
728.9
743.9
752.4
779.1
809.1
835.2
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods
to services.
2. Includes parts of foods, feeds, and beverages; of nondurable industrial supplies and materials; and of nondurable nonautomotive consumer goods.
1996
1996
III
Exports of goods and
services
Exports of aoods l
Foods, feeds, and beverages
Industrial supplies and materials ...
Durable goods
Nondurable goods
Capital goods, except automotive
Civilian aircraft, engines, and
parts
...
Computers, peripherals, and
parts
Other
Automotive vehicles, engines, and
parts
Consumer goods, except
automotive . . .
Durable goods
Nondurable goods
Other .
Durable goods
Nondurable goods
Exports of services l
Transfers under U.S. military
agency sales contracts
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Other
Residual
...
imports of goods and
services
BmDorts of aoods l
Foods, feeds, and beverages
Industrial supplies and materials,
except petroleum and products
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except automotive
Civilian aircraft, engines, and
parts
Computers, peripherals, and
parts
Other
Automotive vehicles, engines, and
parts
Consumer goods, except
automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Imports of services l
Direct defense expenditures
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Other
Residual
Addenda:
Exports of agricultural goods2
Exports of nonagricultural goods ..,
Imports of nonpetroleum goods
III
791.2 857.0 847.4 851.4
573.9 628.4 619.2 623.0
1997
IV
901.1
666.2
I
III
II
922.7
686.2
962.5
725.8
973.0
731.8
42.8
47.2
43.2
40.9
42.7
116.4 121.9 119.9 121.3
126.6
127.6
133.5
134.3
45.4
76.0
46.3
46.9
80.8
49.1
48.9
85.4
44.5
42.3
44.0
44.8
41.2
44.7
804
337.2
31.8
97? 940 1003
203.3 1984 202.4
742 771 753
263.5 310.4 306.6 305.8
23.8
fififi
1807
27.0
294
23.3
356.1
845
388.7
396.0
33.7
38.7
30.6
106.8
217.2
122.3
224.7
142.5
238.7
160.7
249.4
62.4
61.6
R3fi
64.1
67.6
69.8
69.5
67.3
34.9
671
34.7
66.5
34.5
69.8
36.8
330
31.6
15.8
33.0
16.5
16.5
71.8
36.8
35.0
35.1
17.6
17.6
75.2
39.7
320
37.8
18.9
18.9
73.2
38.4
34.8
37.5
18.7
18.7
218.0 229.9 229.3 229.4
236.8
238.9
240.8
245.0
11.6
62.9
19.1
25.4
27.3
67.0
16.2
13.5
64.4
26.7
28.0
69.3
16.2
11.1
65.3
20.7
26.5
28.0
71.4
16.3
12.6
63.4
19.4
27.2
28.8
73.5
16.3
12.8
64.6
19.9
27.8
28.6
75.4
16.4
-11.9 -27.7 -256 -29.9
-32.4
-42.8
•^55.9
-70.3
60.0
626
32.3
303
304
15.2
15.2
11.6
59.1
324
31.5
15.8
15.8
12.2
62.6
324
321
16.0
16.0
13.4
62.5
174
187
183
26.6
25.5
25.8
27.4
25.9
26.9
61 8
670
661
16.1
16.3
16.2
15R
188
355
890.1 971.5 960.0 490? 1,006.6 1,048.9 1,099.1 1,137.1
749.2 823.1 811.7 841.7 857.5 891.3 938.4 972.7
29.3
32.3
31.8
32.5
107.9 114.2 112.7 116.9
535 573 571 588
54.3
568 55.6 58.1
33.2
34.2
35.3
36.2
117.7
591
118.3
591
123.3
61 7
125.5
622
67.5
58.5
64.0
59.2
62.2
61.6
68.1
63.2
69.2
246.5 294.5 284.2 298.6
319.6
340.3
369.4
393.4
59.3
63.8
65.9
11.4
12.2
11.7
13.2
•16.1
118.3 114.4 121.5
154.4 1776 1705 179.1
130.2
191.8
144.4
202.8
165.2
214.5
183.7
2212
114.8 1188 1190 123.1
118.7
131.0
127.6
1320
155 1 1653 161 9 1676
1739
90.0
83.9
1876
97.0
90.5
191 0
22.0
22.0
1765
91.5
84.9
46.4
23.2
23.2
150.0
10.0
9.8
11.2
11.3
88.7
81.2
73.9
86.6
78.7
402
432
432
20.1
20.1
21.6
21.6
21.6
21.6
85.2
76.7
88.6
78.9
43.6
21.8
21.8
141.2 149.0 148.8 149.3
9.1 10.1 10.3 10.3
430 446 447 43.0
13.9
28.0
14.9
27.6
15.0
28.2
15.0
28.0
6.1
6.7
6.2
7.8
354 39? 38.6 39.3
61
59
60
60
-10.7 -22.2 -19.7 -22.4
49.5
48.6
45.4
46.8
524.6 581.3 576.0 578.1
688.6 757.8 744.1 772.3
440
447
15.1
27.4
98.2
92.7
496
524
24.8
24.8
26.2
26.2
158.4
161.8
165.8
11.0
49.1
15.7
28.1
11.2
11.7
499
506
15.3
28.9
15.6
29.1
6.4
6.9
7.6
7.9
40.3
41.4
42.9
44.7
62
63
-29.1 -37.0
63
63
-47.3 -559
51.7
47.7
47.2
49.5
616.0
792.7
641.6
829.7
682.8
870.3
686.1
903.7
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 the detail for exports is the difference between the aggregate "exports of goods and
services" and the sum of the detailed lines for exports of goods and export of services. The residual line following
the detail for imports is the difference between the aggregate "imports of goods and services" and the detailed
lines for imports of goods and imports of services.
See footnotes to table 4.3.
National Data o D-13
SURVEY OF CURRENT BUSINESS
January 1998
Saving and Investment.
Table 5.1—Gross Saving and Investment
[Billions of dollars]
Seasonally adjusted at annual rates
1995
1996
1996
II
Gross saving
Gross private saving
„
..
Personal saving
Undistributed corporate profits with inventory valuation and capital consumption adjustments .. .
Undistributed profits
\
Inventory valuation adjustment
Capital consumption adjustment
Corporate consumption of fixed capital
Noncorporate consumption of fixedlcapital
Wage accruals less disbursements
Gross government saving
Federal
Consumption of fixed capital
Current surplus or deficit (-), national income and product accounts
State and local
Consumption of fixed capital
Current surplus or deficit (-), national income and product accounts
Capital grants received by the United States (net)
Gross investment
Gross private domestic investment
Gross government investment
Net foreign investment
Statistical discrepancy
Addendum:
Gross savina as a percentage of aross national product
1,165.5 1,267.8
III
1,256.3
1997
IV
II
I
III
1,295.9 1,303.0 1,332.9 1,396.9 1,411.6
1,093.1 1,125.5 1,106.3 1,145.1 1,131.4 1,134.0 1,178.1 1,159.6
254.6 239.6 225.7 254.0 220.4 215.9 247.0 208.2
172.4 202.1 202.6 202.3 212.6 211.5 217.6 230.0
141.8 144.9
140.3 142.3 156.1
145.0 142.8 146.4
-2.7
-5.4
3.3
5.9
-2.5
3.5
3.6
-24.3
51.6
61.8
61.6
63.2
64.4
67.7
69.4
70.3
428.9
224.1
452.3
230.5
1.1
448.5
228.3
1.1
455.5
232.2
1.1
462.0
235.2
1.1
467.4
238.0
1.2
472.6
239.7
1.2
478.0
242.4
1.2
142.3
-39.2
150.0
-40.2
150.8
-28.3
171.6
198.9
218.8
251.9
71.2
71.4
71.2
-5.9
71.3
15.9
71.4
34.7
71.5
60.8
71.6
-10.8
191.1
13.1
72.4
-103.6
70.9
-77.1
177.5
-55.5
182.9
-36.8
184.1
72.9
76.2
75.8
76.5
77.2
78.2
79.2
79.7
103.1
105.3
114.4
102.6
100.4
104.7
104.9
111.4
-174.4 -110.5 -111.6
176.0 181.5 190.2
0
0
0
-99.5
179.1
0
0
0
0
0
1,137.2 1,207.9 1,206.0 1,216.4 1,243.5 1,268.6 1,323.4 1,308.4
1,038.2 1,116.5 1,105.4 1,149.2 1,151.1 1,193.6 1,242.0 1,250.2
213.4 224.3 226.3 223.6 225.3 223.3 227.4 227.1
-114.4 -132.9 -125.6 -156.4 -132.9 -148.4 -146.0 -168.9
-28.2
16.0
-59.9
-50.2
-79.5
-59.5
-64.3
16.6
16.5
16.9
16.7
16.8
-73.5
17.4
-103.2
17.4
Table 5.4.—Private Fixed Investment by Type
Table 5.5.—Real Private Fixed Investment by Type
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
Seasonail / adjusts;d at amlual rates
1995
II
Private fixed investment
Nonresidential
Structures
Nonresidential buildings,
including farm
Utilities
Mining exploration, shafts,
ana wells
Other structures
Producers' durable
equipment
Information processing and
related equipment
Computers and
peripheral equipment!
Other
Industrial equipment
Transportation and related
equipment
Other
Residential
Structures
Single family
Multifamily
Other structures
Producers' durable
eauioment . . ..
IV
I
II
723.0
781.4
769.3
798.6
807.2
811.3
836.3
872.0
200.6
215.2
210.6
217.7
227.0
227.4
226.8
232.9
172.1
177.5
33.7
33.2
143.8
159.8
155.5
162.5
171.2
174.0
33.2
33.3
32.9
32.7
34.1
32.0
162
5.9
165
6.0
160
5.8
161
5.3
156
5.5
558.7
580.9
580.2
583.9
609.5
639.1
190.9
201.1
200.3
202.8
208.4
219.5
163
7.3
161
6.2
160
6.1
522.4
566.2
172.8
195.1
65.6
78.7
76.8
80.9
81.0
81.8
84.5
88.1
107.2
121.5
116.3
127.5
114.1
129.2
120.3
128.2
119.3
127.9
121.0
127.7
123.9
134.9
131.3
137.5
125.7
102.4
134.5
109.1
130.8
107.9
140.0
111.5
140.1
111.9
137.7
115.7
147.1
119.1
159.9
122.2
285.1
309.2
312.7
313.5
312.0
316.2
324.6
329.3
277.8
301.7
305.9
304.4
1452
17.9
1591
20.3
305.2
160.2
1606
20.1
316.7
162.5
321.4
163.1
21.7
1622
19.2
308.3
161.0
21.9
23.0
22.3
114.8
122.3
123.2
124.5
123.7
125.3
131.2
135.9
7.5
7.6
7.9
7.9
8.0
7.2
7.5
7.5
1996
1996
II
III
1,008.1 1,090.7 1,082.0 1,112.0 1,119.2 1,127.5 1,160.8 1,201.3
1. Includes new computers and peripheral equipment only.
III
1995
1997
1996
1996
Private fixed investment
Presidential
Structures
Nonresidential buildings,
including farm
Utilities
Mining exploration, shafts,
ana wells
Other structures
Producers' durable
equipment
Information processing and
related equipment
Computers and
peripheral equipment '
Otner
Industrial equipment
Transportation and related
equipment
Other..
Residential
Structures
Single family
Multifamily
Other structures
Producers' durable
equipment
Residual
III
1997
IV
I
II
III
962.1 1,041.7 1,035.7 1,060.9 1,068.7 1,079.0 1,111.4 1,149.3
706.5
771.7
759.7
789.3
800.8
808.9
837.0
874.5
179.9
188.7
185.6
190.0
196.9
195.9
193.5
196.7
128.8
140.0
137.0
141.7
148.4
150.1
147.1
150.1
30.0
29.3
29.1
28.7
29.5
27.5
28.7
28.0
14.3
13.9
13.9
14.1
13.8
13.6
13.0
13.4
6.7
5.5
5.4
5.4
5.1
4.6
4.7
5.1
528.3
586.0
577.1
602.9
606.7
616.6
649.3
685.3
201.8
253.1
244.8
264.3
270.4
281.4
296.9
320.5
102.8
107.0
113.4
160.8
116.3
117.0
152.0 170.0
114.0 120.3
118.8 -117.6
182.4
119.3
116.9
195.8
121.5
116.8
216.1
124.4
123.5
240.5
131.5
125.6
118.9
97.0
125.0
100.8
121.8
100.1
129.5
102.8
129.7
102.5
127.5
106.1
136.0
109.1
146.8
112.1
257.0
272.1
277.2
274.1
271.1
273.3
278.2
280.1
250.0
126.9
265.0
136.6
270.0
138.6
266.9
138.3
263.9
136.2
265.9
136.2
270.8
136.5
272.6
135.7
16.9
106.7
7.0
-14.3
18.6
20.2
17.5
18.0
19.6
20.4
19.6
110.2
111.7
111.5
110.0
110.5
114.4
117.9
7.1
-39.4
7.2
-34.1
7.2
7.2
-43.7
-50.3
7.4
-58.2
7.5
-70.0
7.6
-84.6
1. Includes new computers and peripheral equipment only.
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.
D-14 « National Data
January 1998
SURVEY OF CURRENT BUSINESS
Table 5.10.—Change in Business Inventories by Industry
Table 5.11—Real Change in Business Inventories by Industry
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1995
Change in business inventories ....
Farm
...
Nonfarm
Change in book value
Inventory valuation adjustment
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods ..
Nondurable goods
Retail trade
Durable goods
Motor vehicle dealers
Other
....
Nondurable goods
Other
Durable goods
Nondurable goods ....
30.1
-7.9
38.1
67.2
-29.2
8.4
5.8
2.6
13.4
11.7
1.7
11.3
10.1
1.2
2.1
1.7
.5
9.3
6.9
4.6
2.3
2.4
7.0
4.6
2.3
1996
1996
25.9
2.9
23.0
28.2
-5.1
10.6
10.2
.4
II
III
IV
I
II
III
23.4
37.1
31.9
66.1
81.1
48,9
6.2
17.2
22.0
-4.8
.5
4.7
-4.2
5.8
3.2
3.9
62.2
44.5
17.7
74.9
57.5
17.4
40.9
38.2
15.3
14.4
13.3
22.3
12.9
30.9
19.1
11.8
15.8
10.3
26.0
23.5
15.8
.9
6.8
6.4
9.3
10.1
-5.5
15.6
24.3
15.4
3.6 -8.0
4.2
3.1
.5 -12.1
1.2
.3
.6
1.0
.2
-.3
11.7
-3.2
14.8
-1.6
-2.3
18.9
12.3
4.1
1.9
8.1
9.1
5.3
3.9
5.0
2.3
2.6
-1.1
3.8
.1
3.7
8.1
28.7
32.6
-3.9
4.8 -7.7
4.1
4.7
.7 -12.4
3.5
2.3
6.2
31.3
33.8
-2.4
3.3
2.5
.8
2.4
1.9
.5
.9
.6
.3
-1.6
1995
1997
21.2
14.6
11.9
.8
1.1
-3.3
-5.3
2.7
6.6
2.0
4.4
2.5
-5
2.9
4.3
.8
3.4
8.9
2.4
18.4
18.6
6.6
5.4
3.1
2.3
-2
7.6
4.9
2.7
.6
1.4
8.3
2.4
-2.9
4.2
-.8
15.2
2.1
13.0
-4.0
6.4
5.9
9.8
1.8
8.0
2.6
5.5
4.0
11.8
15.1
4.3
10.9
.7
i!o
3.0
1.7
-.6
2.3
6.3
2.6
NOTE.—Estimates for nonfarm industries other than manufacturing and trade for 1986 and earlier periods are
based on the 1972 Standard Industrial Classification (SIC). Manufacturing estimates for 1981 and earlier periods
and trade estimates for 1966 and and earlier periods are based on the 1972 SIC; later estimates for these industries
are based on the 1987 SIC. The resulting discontinuities are small.
Change in business inventories ....
Farm
.....
Nonfarm
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Motor vehicle dealers
Other
Nondurable goods
Other
Durable goods
Nondurable goods
27.3
-9.2
35.7
7.8
5.5
2.3
12.7
11.3
1.5
10.6
9.6
1.1
2.1
1.6
A
8.8
6.3
4.1
2.2
2.3
1996
1996
25.0
2.6
22.5
9.9
9.7
.4
4.0
2.4
1.6
3.2
1.8
1.3
.8
.6
.3
4.0
1.7
-1.4
3.3
2.3
6.5
4.1
2.3
4.5
2.1
2.4
1.0
-.4
1997
II
III
IV
21.3
37.9
6.5
31.6
14.3
13.8
.8
-5.0
4.5
-9.0
-5.2
3.9
-8.7
.3
.5
-.2
20.0
13.3
10.6
2.5
6.5
2.3
-.4
2.8
-.7
32.9
6.4
26.5
12.3
6.6
5.7
9.4
-5.2
13.9
10.9
-3.0
13.3
-1.5
-2.3
.6
.9
-3.0
-4.7
1.8
4.1
3.9
.7
3.2
.5
4.2
17.3
.6
4.6
-3.7
5.5
3.9
1.7
4.4
3.0
1.5
1.1
.9
.2
7.8
8.3
4.6
3.6
-.8
3.4
.1
3.4
-.3
I
63.7
5.3
58.3
20.9
12.3
8.5
22.9
14.8
8.1
17.8
11.8
6.0
5.1
3.0
2.1
.6
1.2
-2.5
3.9
-.7
13.7
1.8
12.0
.2
II
III
77.6 47.5
7.5
9.5
70.1 38.3
29.0 14.8
18.2
9.9
10.8
5.0
24.6 14.9
22.7
3.8
2.3 10.8
17.5 14.3
4.1
17.9
9.9
-.1
7.2
.6
4.8
-.3
2.5
.9
7.7
2.8
2.0
1.5
-3.7
-.6
5.9
2.1
5.8
1.3
5.7
8.9
1.5
2.3
3.4
7.5
0
-1.0
NOTE.—Chained (1992) dollar series for real chanae in business inventories are calculated as the period-to-period
change in chained-dollar end-of-period inventories. Quarterly changes in end-of-period inventories are stated at annual rates. 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. See note to table 5.10.
National Data « D-15
SURVEY OF CURRENT BUSINESS
January
Tabie 5.12.—Inventories and Domestic Final Sales of Business by
Industry
Table 5.13.—Real Inventories and Real Domestic Final Sales of Business
by Industry
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted quarterly totals
Seasonally adjusted quarterly totals
1996
II
III
1,276.9 1,287.1 1,294.5
Inventories *
Farm
104.3
106.0
102.6
Nonfarrn
1,172.6 1,181.2 1,191.9
Durable goods
667.1
675.6 675.2
Nondurable goods
505.5 505.5 516.7
Manufacturing
432.5 436.3 440.3
268.4 271.4
Durable goods
273.7
Nondurable goods
164.0
164.9
166.6
303.2 300.3 300.8
Wholesale trade
Durable goods
185.3
186.6
184.9
Nondurable goods
117.9
113.6
116.0
Merchant wholesalers
261.5
257.9 258.6
160.7
Durable goods
160.7
161.9
Nondurable goods
100.8
96.0
97.9
41.7
Nonmerchant wholesalers
42.4
42.3
Durable goods
24.6
24.8
24.1
17.1
Nondurable goods
17.6
18.1
Retail trade
306.0 312.5
313.0
167.7
Durable goods
164.9
168.8
Motor vehicle dealers
82.6
85.5
83.9
Other
82.4
83.3
83.9
141.1
143.6
Nondurable goods
145.3
Other
130.9
132.1
137.7
48.7
Durable goods
48.5
48.9
Nondurable goods
82.4
83.4
88.8
2
Finai sales of domestic business
529.5 533.1
542.6
Final sales of goods and structures of
285.2 285.9 289.9
domestic business2
Ratio of inventories to final sales of domestic
business
2.41
2.41
Inventories to final sales
2.39
Nonfarm inventories to final sales
2.21
2.22
2.20
Nonfarm inventories to final sales of goods and
4.11
structures
4.13
4.11
I
II
III
1,306.1 1,318.1 1,334.1
107.2
107.7
109.1
1,198.9 1,210.4 1,225.0
684.4 693.2 697.0
528.0
514.5
517.2
443.3 448.0 453.5
277.0 280.7 283.2
166.3
167.3
170.3
306.2 310.8
316.1
188.7
194.4
195.0
116.4
121.2
117.5
263.4 266.6 271.4
168.4
169.0
163.9
102.4
98.2
99.5
42.8
24.9
17.9
44.2
26.1
18.2
44.7
25.9
18.8
313.3
168.7
313.2
167.7
314.7
168.0
83.6
85.1
80.9
86.7
80.7
87.3
144.6
145.6
136.1
138.3
146.7
140.7
50.0
86.2
50.5
87.9
50.8
89.9
550.0
556.2
565.2
294.1
296.1
301.1
2.37
2.18
2.37
2.18
2.36
4.08
4.09
4.07
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories calculated from current-dollar inventories in this table is not the current-dollar change m business inventories (CBI) component of GDP.
The latter is the change in the physical volume of inventories valued at average prices of the quarter. In addition,
changes calculated from this table are at quarterly rates; whereas, CBI is stated at annual rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less
gross product of households and institutions and of general government and includes a small amount of final sales
by farm.
1997
1996
1997
IV
II
1,191.2
Farm
99.3
Nonfarm
1,091.4
Durable goods
626.5
Nondurable ooods
464.8
Manufacturing
403.0
Durable goods
255.9
Nondurable goods
147.3
Wholesale trade
. . . .
281.3
Durable goods
178.1
Nondurable aoods
103.3
241.4
Merchant wholesalers
154.1
Durable goods
Nondurable goods
87.5
39.9
Nonmerchant wholesalers
24.0
Durable goods
15.9
Nondurable goods
287.4
Retail trade
Durable goods
149.8
Motor vehicle dealers
73.0
Other
76.9
137.3
Nondurable goods
Other
119.5
42.4
Durable goods
77.0
Nondurable goods
.6
Residual
Finai sales of domestic business2
484.5
Final sales of goods and structures of
268.4
domestic business 2 . .
. .
Ratio of inventories to final sales of domestic
business
2.46
Inventories to final sales
2.25
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods and
4.07
structures
III
1,200.7
100.9
1,099.3
634.3
464.9
406.6
259.3
147.5
280.1
179.2
101.1
240.1
155.1
IV
I
II
1,208.9 1,224.8 1,244.2
102.5 103.8 105.7
1,105.9 1,120.5 1,138.0
634.0 641.5 652.5
471.7 478.8 485.4
409.7 414.9 422.1
260.9 264.0 268.6
148.9 151.1 153.8
282.4 288.1 294.3
177.9 181.6 187.3
104.6 106.6 107.2
242.8 247.3 251.7
154.3 157.3 161.8
III
1,256.1
108.0
1,147.6
656.8
490.6
425.8
271.0
155.0
298.0
188.3
109.9
255.2
162.8
85.3
39.9
24.2
15.8
88.6
39.5
23.6
16.0
90.1
40.8
24.3
16.5
90.1
42.6
25.5
17.1
92.6
42.8
25.5
17.3
292.4
153.2
292.7
152.4
292.8
152.7
294.7
153.2
295.4
153.6
75.7
77.5
74.5
78.0
73.9
79.0
73.0
80.4
72.8
81.0
138.9
120.1
140.0
121.1
139.8
124.5
141.2
126.7
141.5
128.2
42.3
77.7
42.5
78.4
42.9
81.4
43.3
83.3
43.9
84.2
.5
484.7
.7
491.1
.7
495.1
.4
.5
498.5 505.0
268.2
271.8
274.5
275.6
280.0
2.48
2.27
2.46
2.25
2.47
2.26
2.50
2.28
2.49
2.27
4.10
4.07
4.08
4.13
4.10
1. Inventories are as of the end of the quarter. Quarter-to-quarter changes calculated from this table are at quarterly rates, whereas, the change in the business inventories component of GDP is stated at annual rates.
2. Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less
gross product of households and institutions and of general government and includes a small amount of final safes
by farm.
NOTE.—Chained (1992) dollar inventory series are calculated as the product of the chain-type quantity index and
the average of the end-of-year fixed-weighted inventories for 1991 and 1992, divided by 100. Chained (1992) dollar
final sales series are calculated as the product of the chain-type 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 for inventories.
D-16 • National Data
SURVEY OF CURRENT BUSINESS
January 1998
6. Income and Employment by Industry.
Table 6.16C.—Corporate Profits by Industry
Table 6.1 C.—National Income Without Capital Consumption Adjustment
by Industry
[Billions of dollars]
[Billions of dollars]
Seasonaliy adjusteid at arinual rcties
Seasonally adjusted at annual rates
1995
1996
1996
II
National income without
capital consumption
adjustment
Domestic industries
Private industries
Agriculture, forestry, and
fishing
Mining
Construction
Manufacturing
Durable goods
Nondurable goods
Transportation and public
utilities
Transportation
Communications
Electric, gas, and
sanitary services
Wholesale trade
Retail trade
Finance, insurance, and
real estate
Services
Government
Rest of the world
III
1995
IV
I
II
II
"in
5,888.4 6,219.6 6,193.7 6,267.7 6,340.4 6,470.8 6,557.3 6,657.5
5,883.2 6,217.9 6,190.9 6,274.7 6,337.3 6,485.1 6,578.0 6,678.2
5,057.8 5,362.6 5,339.1 5,415.0 5,472.0 5,608.9 5,696.1 5,788.8
Corporate profits with inventory
valuation and capital
consumption adjustments
Domestic industries .
Financial
Nonfinancial
Rest of the world
104.8
114.1
88.2
45.0
105.6
46.9
47.8
46.9
45.0
48.2
49.2
48.0
266.7
285.2
283.3
286.9
291.4
298.2
302.2
307.4
109.0
109.6
110.8
115.5
1,069.2 1,110.1 1,110.7 1,120.8 1,122.1 1,134.6 1,160.5 1,187.8
608.2 634.5 636.2 642.7 639.4 651.0 669.7 691.2
461.0 475.6 474.5 478.1 482.8 483.6 490.8 496.6
440.7
184.4
128.5
456.7
191.0
135.0
460.8
191.3
137.0
459.3
194.6
137.0
457.3
192.3
133.1
467.1
199.6
135.5
471.5
203.0
135.2
477.2
207.6
139.0
127.8
325.4
480.1
130.8
132.6
340.0
503.9
127.7 131.9
350.6 364.8
506.8 512.3
132.0
372.4
527.7
133.3
349.1
503.7
379.3
533.0
130.6
388.7
542.6
1,024.4 1,095.3 1,091.2 1,111.5 1,116.5 1,168.9 1,185.0 1,199.2
1,318.1 1,410.1 1,396.6 1,423.2 1,452.9 1,481.1 1,500.1 1,523.7
825.3 855.3 851.8 859.7 865.2 876.2 881.9 889.4
5.2
1.7
2.8
-7.0
3.1 -14.3
-20.7
-20.7
1997
1996
1996
1997
ill
IV
I
II
III
650.0 735.9 738.5 739.6 747.8 779.6 795.1 827.3
563.2 640.0 645.2 647.8 640.3 682.2 694.4 727.5
887 942 1024 946 78.5 106.8 107.7 109.3
4746 5458 5428 5533 561 7 5754 5867 6182
86.7
95.9
93.3
91.8
107.5
97.4
100.8
99.9
Receipts from the rest of the world
Less: Payments to the rest of the world
120.2 132.7 128.9 133.4 142.6 139.9 148.3 150.5
Corporate profits with inventory
valuation adjustment
598.4 674.1 676.8 676.4 683.4 711.9 725.7 757.1
33.5
36.7
35.7
41.6
35.0
511.7 578.2 583.5 584.6 575.8
Domestic industries
RR1
Financial
97.6 1035 111.5 1040
22.3
22.0
21.9
22.2
22.0
Federal Reserve banks
75.4
Other
82.0
65.8
89.6
81.5
414.1 474.7 472.0 480.7 487.8
Nonfinancial
Manufacturing
1813 2055 2048 2105 209.7
852 990 989 102.9 99.7
Durable goods
7.0
4.4
5.1
6.5
5.6
Primary metal industries
18.0
18.1
16.2
12.4
17.1
Fabricated metal products
Industrial machinery and
equipment
220 258 259 256 24.6
Electronic and other electric
25.2 29.6
21.7
equipment
19.2
23.9
-.1 -1.5
-8.3
Motor vehicles and equipment
-.2 -3.2
28.6
30.6
30.8
Other
25.3
29.8
Nondurable goods
960 1065 1058 1077 1099
34.2
Food and kindred products
27.1
28.8
23.8
28.5
28.9
32.4
31.2
31.5
Chemicals and allied products
30.3
Petroleum and coal products ....
6.0 10.0 12.8 10.0 11.9
Other
326 368 36.9 37.3 34.9
91.2
Transportation and public utilities
90.5
96.0
91.7
86.4
Transportation
11 4 11 7 125 130 11 4
37.6
34.8
37.3
Communications
36.0
33.6
Electric, gas, and sanitary services 41.4 44.0 46.2 40.6 44.3
Wholesale trade
269 383 308 377 47.4
48.3
50.6
50.6
Retail trade
48.9
41.9
903 R97 90.6 919
Other
77.6
Rest of the world
86.7
95.9
93.3
91.8
107.5
NOTE.— Estimates in this table are based on the 1987 Standard Industrial Classification.
42.5
47.5
50.6
614.5 624.9 657.2
1165 1175 119.4
22.8
93.7
23.2
94.3
23.7
95.7
49RO 5074 537 R
208.2 2210 240.4
101.3 111.8 128.1
5.6
7.6
3.9
17.4
18.4
20.8
24.0
27.8
32.5
314
333
3R7
-1.3
25.9
1069
28.0
28.8
12.4
37.7
91.5
.4
-3.5
300
30.2
1092 1123
28.2 29.1
29.9 30.0
12.4
10.3
40.8 40.9
90.0
89.6
149
164
33.8
42.8
30.8
42.4
39.8
490
495
541
55.1
94.2
54.9
57.9
97.4
100.8
9? 4
169
334
953
99.9
January 1998
National Data • D-17
SURVEY OF CURRENT BUSINESS
7. Quantity and Price IndexesTable 7.1—Quantity and Price Indexes for Gross Domestic Product
[Index numbers, 1992=100]
Seasonall / adjust**d
S easonall / adjustsJd
1995
1996
II
Gross domestic product:
Current dollars
116.36
Chain-type quantity index 107.97
Chain-type price index ... 107.76
Implicit price deflator
107.76
Personal consumption
expenditures:
Current dollars
11749
Chain-type quantity index
108.90
Chain-type price index
107.89
Implicit price deflator
10789
Durable goods:
Current dollars
124.57
Chain-type quantity index ... 119.46
Chain-type price index
104.27
Implicit price deflator
104.27
Nondurable goods:
Current dollars
111 65
Chain-type quantity index ... 106.86
Chain-type price index
104.48
Implicit price deflator
104.48
Services:
Current dollars
119.25
Chain-type quantity index ... 107.89
Chain-type price index
110.53
Implicit price deflator
110.53
Gross private domestic
investment:
131.34
Current dollars
Chain-type quantity index
125.44
Chain-type price index
104.71
Implicit price deflator
104.70
Fixed investment:
Current dollars
12867
Chain-type quantity index ... 122.81
Chain-type price index
104.78
Implicit price deflator
104.77
Nonresidential:
Current dollars
129.60
Chain-type quantity index 126.65
Chain:type price index ... 102.33
Implicit price deflator
1 02.33
Structures:
Current dollars
118.57
Chain-type quantity
index
10635
1997
1996
III
IV
I
II
121.83
110.92
109.86
109.84
122.93
111.20
110.59
110.54
124.80
112.38
111.10
111.05
127.05
113.73
111.78
111.71
128.66
114.66
112.27
112.22
130.10
115.53
112.67
112.62
12341
111.71
110.47
11047
12297
111.67
110.13
11012
123.88
111.81
110.80
11079
125.79
112.72
111.61
111 60
128.10
114.18
112.21
11220
128.73
114.45
112.49
11248
130.99
116.03
112.91
11289
129.88
125.09
103.83
103.83
130.72
125.84
103.89
103.88
129.87
125.25
103.72
103.69
130.64
126.32
103.45
103.41
134.77
130.55
103.27
103.24
131.92
128.75
102.50
102.46
136.60
134.31
101.74
101.71
11611
108.36
107.15
107.15
11592
108.30
107.04
107.03
11638
108.48
107.29
107.28
118.03
109.03
108.26
108.25
120.09
110.29
108.90
108.89
11945
109.70
108.89
108.88
121.10
110.87
109.24
109.23
126.10
110.86
113.76
113.76
125.27
110.67
113.20
113.19
126.78
110.93
114.29
114.28
129.07
111.99
115.26
115.25
131.15
113.05
116.02
116.01
133.17
114.13
116.70
116.69
135.27
115.22
117.42
117.41
141.26
135.26
104.50
104.43
139.85
134.00
104.31
104.36
145.38
139.21
104.63
104.44
145.63
139.77
104.50
104.19
151.01
145.39
104.23
103.86
157.12
151.45
104.07
103.75
158.17
152.40
104.11
103.78
13922
132.97
104.70
104.70
13811
132.20
104.50
104.47
141 94
135.42
104.85
104.82
14286
136.41
104.75
104.73
143.91
137.73
104.52
104.49
148.17
141.86
104.47
104.45
153.34
146.70
104.55
104.52
140.07 137.90
138.33 136.19
101.26 101.29
1 01 .26 101.26
143.15
141.48
101.21
101.18
144.69
143.54
100.82
100.80
145.43 149.90 156.30
145.00 150.03 156.75
100.31 99.93 99.73
01 99.71
100.29 GO
99.91
127.22 124.47 128.66 134.16 134.40 134.05 137.65
111 51 10968 11232 11640 11579 11439 116.26
AA
111 4Q 114 no H -jo en •\ 4 A CO
1 1R 1 1 1 -17 oq
111.49 114.09 113.48 114.55 115.26 116.07 117.19 118.40
•MO
134.40 145.67 143.74 149.45 149.27 150.23 156.80 164.42
135.91 150.77 148.48 155.10 156.09 158.63 167.05 176.32
98.89 96.62 96.84 96.38 95.65 94.72 93.88 93.27
98.89 96.62 96.81 96.36 95.63 94.70 93.86 93.25
12639
113.94
110.93
110.93
13710
120.64
113.64
113.64
13864
122.91
112.80
112.80
13897
121.51
114.37
114.36
13833
120.18
115.10
115.10
14016
121.17
115.68
115.68
14390
123.36
116.65
116.65
14601
124.19
117.57
117.56
NOTE.— Chain-type quantity and price indexes are calculated from weighted averages of the detailed output and
prices used to prepare each aggregate and component. Implicit price deflators are weighted averages of the detailed
price indexes used to prepare each aggregate and component and are calculated as the ratio of current- to chained-
Exports of goods and
services:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Exports of goods:
128.00
123.74
103.44
103.44
136.19
134.03
101.61
101.61
1997
1996
1996
III
122.29
110.95
110.22
110.21
•ME Of*
Implicit price deflator
Producers' durable
equipment:
Current dollars
Chain-type quantity
index
Chain-type price index
Implicit price deflator
Residential:
Current dollars
Chain-type quantity index
Chain-type price index ...
Implicit price deflator
1995
II
III
IV
135.27
132.53
102.14
102.07
135.07
133.15
101.47
101.44
141.48
140.92
100.35
100.39
I
II
III
144.22 150.18 151.05
144.30 150.53 152.17
99.90 99.72 99.21
99.95 99.77 99.26
1Qft 1Q
1Q7 AQ
1Q5 flQ 140 75 14fi OR •tcq 70 154 oo
127.91 140.05 138.00 138.85 148.48 152.94 161.76 163.11
101.74 98.27 99.24 97.89 96.06 95.55 94.99 94.35
101.74 98.27 99.14 97.86 96.14 95.63 95.07 94.43
•jOO OO
Chain-type quantity index ...
Chain-type price index
Implicit price deflator
Exports of services:
100 07
Chain-type quantity index ... 114.27
107.61
Chain-type price index
Implicit price deflator
107.61
Imports of goods and services:
135.20
Current dollars
Chain-type quantity index
133.05
101.62
Chain-type price index
Implicit price deflator
101.62
imports of goods:
139.04
Current dollars
Chain-type quantity index ... 137.50
101.12
Chain-type price index
Implicit price deflator
101.12
Imports of services:
Current dollars
11838
Chain-type quantity index ... 113.82
Phflin-tvnft nriro inHoy
ifuni
104.01
Implicit price deflator
Government consumption
expenditures and gross
investment:
Current dollars
107.26
Chain-type quantity index
99.06
Chain-type price index
108.28
Implicit price deflator
108.28
Federal:
96.51
Current dollars
Chain-type quantity index ... 89.08
108.34
Chain-type price index
Implicit price deflator
108.34
National defense:
Current dollars
91.70
Chain-type quantity index 85.84
Chain-type price index ... 106.83
Implicit price deflator
106.83
Nondefense:
Current dollars
108.39
Chain-type quantity index 96.88
Chain-type price index ... 111.88
Implicit price deflator
111.88
State and local:
114.97
Current dollars
Chain-type quantity index ... 106.23
108.24
Chain-type price index
Implicit price deflator
108.24
•jO-l ft/1 1<3O 14 •JOQ AQ HOQ A*> 141 70 144 05
120.51 120.19 120.28 124.14 125.27 126.25 128.46
110.21 109.53 110.70 111.55 111.29 112.23 112.12
110.21 109.53 110.70 111.56 111.30 112.24 112.14
•JOQ Q-|
144.36 143.32 146.14 148.47 152.63 156.81 161.02
145.22 143.51 148.03 150.48 156.80 164.30 169.98
99.41 99.83 98.76 98.75 97.42 95.52 94.81
99.40 99.87 98.73 98.66 97.34 95.44 94.73
148.49 147.37 150.53 153.18 157.07 161.53 166.21
151.06 148.97 154.49 157.37 163.58 172.24 178.53
98.30 98.88 97.47 97.42 96.11 93.87 93.18
98.29 98.92 97.44 97.34 96.02 93.78 93.10
12555 12689 12776 13313 13609 13823
119.94 120.29 120.90 127.64 130.41 133.58
12623
120.06
105 1^
105.13
IfURft 105 50 105 fiQ 104^1
111.31
99.54
111.83
111.83
111.33 111.84 112.54 113.40
100.10 99.83 99.85 99.74
111.23 112.07 112.76 113.74
111.22 112.04 112.71 113.69
•m4T7
in^4Q
104.68 105.49 105.68 104.30 104.36 103.48
114.66
100.50
114.14
114.09
115.37
100.77
114.54
114.49
98.49 99.37 98.79 98.03 97.75 99.64 99.56
87.92 89.15 88.21 87.04 85.76 87.14 86.89
112.03 111.47 112.05 112.74 114.10 114.46 114.71
112.02 111.46 111.99 112.62 113.98 114.34 114.58
93.87 95.09 94.41 93.29 91.37 93.29 93.70
84.56 86.01 85.00 83.44 80.86 82.33 82.58
111.02 110.58 111.16 111.94 113.14 113.46 113.62
111.02 110.56 111.07 111.80 112.99 113.31 113.47
109.90 109.93 109.58 109.72 113.52 115.31 114.04
96.01 96.72 95.93 95.69 97.54 98.71 97.27
114.47 113.63 114.25 114.72 116.44 116.87 117.30
114.47 113.66 114.23 114.66 116.39 116.82 117.24
120.51
107.88
111.71
111.71
119.92
107.97
111.08
111.07
121.22
108.17
112.07
112.07
122.96
109.04
112.77
112.76
doflar output multiplied by 100.
Percent changes from preceding period for items in this table are shown in table 8.1.
124.63
109.78
113.54
113.52
125.44
110.10
113.95
113.94
126.70
110.73
114.44
114.43
D-18 « National Data
SURVEY OF CURRENT BUSINESS
January 1998
Table 7.2.—Quantity and Price Indexes for Gross Domestic Product,
Final Sales, and Purchases
Table 7A—Chain-Type Quantity and Price Indexes for Personal
Consumption Expenditures by Major Type of Product
[Index numbers, 1992=100]
[Index numbers, 1992=100]
Seasonally adjusted
Seasonally adjusted
1995
1996
1996
II
Gross domestic product:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Final sales of domestic
product:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Gross domestic purchases:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Final sales to domestic
purchasers:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Addenda:
Chain-type price indexes for
gross domestic purchases:
Food
Energy
Gross domestic purchases
less food and energy
116.35
107.97
107.76
107.76
122.29
110.95
110.22
110.21
121.83
110.92
109.86
109.84
III
122.93
111.20
110.59
110.54
1995
1997
IV
124.80
112.38
111.10
111.05
I
127.05
113.73
111.78
111.71
II
128.66
114.66
112.27
112.22
116.00
107.62
107.79
107.79
122.01
110.64
110.28
110.28
121.59
110.66
109.91
109.88
122.47
110.70
110.65
110.63
124.43
111.93
111.17
111.16
126.13
112.77
111.85
111.85
127.51
113.47
112.37
112.37
129.47
114.80
112.78
112.78
117.17
108.98
107.52
107.52
123.22
112.17
109.86
109.85
122.75
112.11
109.50
109.49
124.16
112.77
110.15
110.10
125.62
113.46
110.79
110.72
128.03
115.09
111.32
111.24
129.47
116.14
111.55
111.48
131.27
117.38
111.90
111.83
116.82
108.63
107.54
107.54
122.95
111.86
109.91
109.91
122.52
111.86
109.54
109.53
123.71
112.28
110.20
110.18
125.25
113.02
110.85
110.83
127.11
114.14
111.39
111,37
128.32
114.96
111.65
111.62
130.63
116.66
112.00
111.98
106.38 109.42 108.76 109.98 111.02 111.35 111.79 112.67
101.92 107.01 107.91 106.72 109.23 110.89 105.91 106.16
107.93 110.06 109.67 110.34 110.86 111.36 111.81 112.10
NOTE.—-Percent changes from preceding period for selected items in this table are shown in table 8.1.
Table 7.3.—Quantity and Price Indexes for Gross National Product and
Command-Basis Gross National Product
[Index numbers, 1992=100]
Gross national product:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Less: Exports of goods and
services and receipts of
factor income:
Chain-type quantity index
Plus: Command-basis exports
of goods and services and
receipts of factor income:
Chain-type quantity index
Equals: Command-basis gross
national product:
Chain-type quantity index
116.23
107.88
122.10 121.66
110.81 110.78
107.74 110.19 109.83
107.73 110.18 109.82
122.60
110.95
110.55
110.50
124.63
112.27
111.06
111.01
126.60
113.37
111.73
111.67
128.10
114.21
112.22
112.17
129.54
115.08
112.62
112.57
128.61 137.88 135.83 137.24 145.06 147.60 154.24 156.43
130.43 140.35 138.30 140.23 147.07 150.74 159.72 162.32
108.11 111.12 111.09 111.32 112.52 113.76 114.89 115.81
NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1.
II
III
130.10
115.53
112.67
112.62
1996
1996
Chain-type quantity indexes
Personal consumption
expenditures
Durable goods
Motor vehicles and parts
Furniture and household
eauioment ...
ahT_:zr: ::::
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services
Housing
Household operation
Electricity and gas
Other household operation
Transportation
Medical care ....
Other
Chain-type price indexes
Personal consumption
expenditures
Durable aoods
Motor vehicles and parts
Furniture and household
equipment .
Other
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Fuel oil and coal
Other
Services
Housing
Household operation
Electricity and gas
Other household operation
Transportation
Medical care
Other
Addenda:
Price indexes for personal
consumption expenditures:
Food
Energy *
Personal consumption
expenditures less food
and energy
III
1997
IV
I
II
III
108.90 111.71 111.67 111.81 112.72 114.18 114.45 116.03
119.46 125.09 125.84 125.25 126.32 130.55 128.75 134.31
110.96 111.82 113.23 111.06 110.19 112.83 107.82 115.39
131.20 142.35 142.54 143.80 146.18 151.75 154.35 159.01
116.10 122.72 122.87 122.66 125.98 131.48 129.70 131.81
106.86 108.36 108.30 108.48 109.03 110.29 109.70 110.87
104.63
114.19
106.12
96.27
107.06
104.51
118.70
107.02
97.19
110.16
104.59
118.99
107.43
95.34
109.50
104.14
120.09
107.01
96.86
110.55
104.39
119.73
107.69
94.75
112.37
105.25
122.88
107.56
86.25
114.07
104.28
121.39
108.95
92.53
113.98
104.48
124.74
109.05
95.48
116.06
107.89 110.86 110.67 110.93 111.99 113.05 114.13 115.22
106.40
113.97
107.93
118.44
117.16
104.38
108.37
108.25
116.65
110.55
121.17
123.11
106.42
112.64
108.02
117.64
112.32
121.60
122.64
106.11
112.27
108.48
115.15
107.74
120.61
123.64
106.67
112.84
108.97
117.51
110.47
122.71
124.64
107.81
113.91
109.52
116.02
106.82
122.79
126.10
108.93
116.15
110.09
118.51
110.55
124.38
127.14
109.61
117.59
110.64
119.14
108.60
126.86
129.02
110.45
119.36
107.89 110.47 110.13 110.80 111.61 112.21 112.49 112.91
104.27 103.83 103.89 103.72 103.45 103.27 102.50 101.74
110.99 112.95 112.70 113.15 113.55 113.84 113.26 112.55
96.67 93.71 94.04 93.38 92.50 91.84 90.84 89.67
106.04 106.48 106.53 106.26 106.14 106.22 105.64 105.85
104.48 107.15 107.04 107.29 108.26 108.90 108.89 109.24
106.46
98.90
101.16
97.23
105.86
109.63
98.75
107.44
108.92
108.22
108.98
99.00
109.77
108.68
108.09
110.20
98.08
106.47
105.69
108.57
111.27
98.56
109.83
116.17
108.67
111.65
99.29
112.13
116.49
109.21
112.09
100.37
104.77
108.78
110.08
113.02
99.68
106.31
104.55
109.87
110.53 113.76 113.20 114.29 115.26 116.02 116.70 117.42
109.02
106.28
103.92
107.97
109.68
114.50
110.07
112.43
109.08
106.35
111.01
112.22
117.43
113.69
112.00
108.73
105.87
110.75
111.76
117.07
112.76
112.85
109.63
106.92
111.55
112.43
117.72
114.63
113.60
110.32
107.73
112.16
114.15
118.62
115.76
114.42
111.37
109.66
112.63
114.88
119.41
116.33
115.34
111.05
107.98
113.21
116.14
119.88
117.20
116.25
111.17
108.16
113.28
116.98
120.38
118.12
106.46 109.63 108.98 110.20 111.27 111.65 112.09 113.02
102.30 106.96 107.82 106.63 109.07 111.11 106.47 107.11
108.54 110.88 110.52 111.21 111.87 112.41 112.97 113.28
1. Consists of prices for gasoline and oil, fuel oil and coal, and electricity and gas.
National Data • D-19
SURVEY OF CURRENT BUSINESS
January 1998
Table 7.6.—Chain-Type Quantity and Price Indexes for Private Fixed
Investment by Type
[Index numbers, 1992=100]
Table 7.9.—Chain-Type Quantity and Price Indexes for Exports and Imports of Goods and Services and for Receipts and Payments of Factor Income
[Index numbers, 1992=100]
Seasonally adjusted
1995
1996
1996
II
Chain-type quantity indexes
Private fixed
investment
Nonresidential
Structures
. . . .
Nonresidential buildings,
including farm
Utilities
Mining exploration, shafts,
and wells
Other structures
Producers' durable
equipment
Information processing and
related equipment
Computers and
peripheral equipment1
Other
Industrial equipment
Transportation and related
equipment
Other
Residential
Structures
Single family
Multifamily
Other structures
Producers' durable
equipment
Chain-type price indexes
Private fixed
investment
Nonresidential
Structures
Nonresidential buildings,
including farm
Utilities
Mining exploration, shafts,
and wells
Other structures
Producers' durable
equipment
Information processing and
related equipment
Computers and
peripheral equipment J
Other
Industrial equipment
Transportation and related
equipment
Other
Residential
Structures
Single family
Multifamily
Other structures
Producers' durable
equipment
IV
I
II
122.81 132.97 132.20 135.42 136.41 137.73 14186
146.70
106.35 111.51 109.68 112.32 116.40 115.79 114.39 116.26
113.81 123.67 121.08 125.22 131.15 132.58 129.98 132.61
86.99 84.83 84.43 83.23 85.66 79.80 83.07 81.32
107.86 104.18 104.36 106.20 103.54 102.45
81.72 66.68 66.10
65.30 61.90 55.98,
97.40 100.62
57.50 61.86
135.91 150.77 148.48 155.10 156.09 158.63 167.05 176.32
150.40 188.61 182.43 196.97 201.54 209.70 221.31 238.88
233.89 365.81 345.83 386.78 414.95 445.54 491.73 547.14
118.57 128.90 126.35 133.29 132.21 134.66 137.85 145.77
126.96 131.01 133.01 131.64 130.91 130.81 138.25 140.67
137.98 145.10 141.33 150.25 150.54 147.92 157.79 170.32
122.68 127.58 126.68 130.11 129.66 134.23 138.07 141.85
113.94 120.64 122.91 121.51 120.18 121.17 123.36 124.19
113.91
108.94
129.13
118.66
120.71
117.22
142.27
122.54
123.01
118.96
153.96
124.26
121.59
118.73
133.41
123.96
120.21
116.95
137.49
122.33
121.13
116.95
149.84
122.86
123.35
117.14
156.03
127.25
1995
III
126.65 138.33 136.19 141.48 143.54 145.00 150.03 156.75
124.17
116.45
149.56
131.15
115.09 118.12 119.04 118.83 119.28 122.83 123.91 125.40
Chain-type quantity indexes
Exports of goods and services
Goods !
Durable
Nondurable
Services 1
Receipts of factor income
imports of
goods and services
Goods 1
Durable
Nondurable
Services 1
......
Payments of factor income
Chain-type price indexes
Exports of
goods and services
Goods l
Durable
Nondurable
Services l
Receipts of factor income
Imports ofl goods and services
Goods „
Durable
Nondurable
Services 1
. . .
Payments of factor income .....
123.74
127.91
136.66
111.02
114.27
1996
1996
134.03
140.05
153.97
114.40
120.51
1997
II
III
IV
I
II
III
132.53
138.00
152.58
111.30
120.19
133.15
138.85
153.17
112.57
120.28
140.92
148.48
164.19
119.77
124.14
144.30
152.94
171.81
119.12
125.27
150.53
161.76
184.74
121.23
126.25
152.17
163.11
186.07
122.57
128.46
150.59 155.36 150.91 155.79 163.87 162.90 171.33 175.83
133.05
137.50
147.71
119.57
113.82
145.22
151.06
164.50
127.78
120.06
143.51
148.97
161.60
126.96
119.94
148.03
154.49
168.17
130.74
120.29
150.48
157.37
172.22
131.83
120.90
156.80
163.58
182.08
132.70
127.64
164.30
172.24
190.72
141.15
130.41
169.98
178.53
198.74
144.77
133.58
158.25 165.78 160.60 171.97 173.34 184.53 197.73 202.54
103.44 101.61 102.14 101.47 100.35 99.90 99.72 99.21
101.74 98.27 99.24 97.89 96.06 95.55 94.99 94.35
95.89 90.93 91.57 90.21 88.77 88.13 87.43 86.69
115.55 116.09 117.87 116.61 113.78 113.67 113.55 113.28
107.61 110.21 109.53 110 JO 111.55 111.29 112.23 112.12
107.28 109.36 109.11 109.56 110.08 110.49 110.73 111.10
101.62 99.41 99.83 98.76 98.75 97.42 95.52 94.81
101.12 98.30 98.88 97.47 97.42 96.11 93.87 93.18
99.71 93.63 94.54 92.74 90.73 89.31 88.36 87.61
104.24 108.65 108.49 107.94 112.34 111.27 105.99 105.47
104.01 105.13 104.68 105.50 105.69 104.31 104.37 103.49
108.39 110.63 110.14 111.14 111.81 112.24 112.65 113.00
1. Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods
to services.
104.78 104.70 104.50 104.85 104.75 104.52 104.47 104.55
102.33 101.26 101.29 101.21 100.82 100.31
99.93
99.73
111.49 114.09 113.50 114.58 115.30 116.11 117.23 118.44
111.62 114.14 113.52 114.72 115.38 116.02 117.03 118.33
110.79 113.70 113.07 113.75 115.29 116.17 117.45 118.42
113.66 115.89 115.59 116.56 116.21 118.47 120.25 121.28
108.30 112.33 111.93 112.46 113.43 114.82 116.51 116.93
98.89
96.62
96.84
96.38
95.65
94.72
93.88
93.27
85.64
77.09
77.91
76.06
74.05
72.06
70.16
68.46
63.84 48.98 50.11
47.21 44.10 41.47 38.81 36.41
100.21 100.04 100.10 100.02 100.07 99.65 99.67 99.89
107.12 108.96 108.75 109.06 109.41 109.34 109.23 109.47
105.71 107.56 107.40 108.18 108.03 108.09 108.22 108.97
105.64 108.24 107.74 108.46 109.20 109.05 109.16 108.99
110.93 113.64 112.80 114.37 115.10 115.68 116.65 117.57
111.12
114.40
105.80
107.56
113.88
116.50
109.10
111.02
113.03
115.61
107.85
110.31
114.62
117.27
110.17
111.68
115.36
117.84
111.69
112.50
115.94
118.15
111.87
113.47
116.96
119.05
112.73
114.66
117.91
120.26
113,87
115.29
103.91 104.84 104.22 104.94 105.59 106.27 105.27 104.89
1. Includes new computers and peripheral equipment only.
III
Seasonally adjusted
1997
D-20 • National Data
SURVEY OF CURRENT BUSINESS
January 1998
Table 7.10.—Chain-Type Quantity and Price Indexes for Exports and Imports of Goods and Services by Major Type of Product
[Index numbers, 1992=100]
Seasonally adjusted
1995
1996
1996
II
Chain-type quantity indexes
Exports of goods and
services
Exports of goods!
Foods, feeds, and beverages
Industrial supplies and
materials
Durable goods
Nondurable goods
Capital goods, except
automotive
Civilian aircraft, engines,
and parts
Computers, peripherals, and
parts
Other
Automotive vehicles, engines,
arid parts
Consumer goods, except
automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Exports of services l
Transfers under U.S. military
agency sales contracts
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Other
Imports of goods and
services
Imports of goods l
Fooas, feeds, and beverages
Industrial supplies and
materials, except petroleum
and products
Durable goods
Nondurable goods ...
Petroleum and products
Capital goods, except
automotive
Civilian aircraft, engines,
and parts
Computers, peripherals, and
parts
Other
Automotive vehicles, engines,
and parts
Consumer goods, except
automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Imports of services l
Direct defense expenditures ...
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Other
Addenda:
Exports of agricultural
goods2
Exports of nonagricultural
goods
Imports of nonpetroleum
goods
NOTE.—See footnotes to table 4.3.
III
Seasonally adjusted
1997
IV
I
II
1995
123.74 134.03 132.53 133.15 140.92 144.30 150.53 152.17
127,91 140.05 138.00 138.85 148.48 152.94 161.76 163.11
110.26 109.04 102.23 106.22 117.01 107.05 101.39 105.81
110.83 116.02 114.10 115.44 120.53 121.51 127.10 127.82
114.81 121.61 121.24 123.20 125.69 127.44 133.28 132.87
108.73 113.07 110.34 111.36 117.81 118.39 123.86 125.15
149.65 176.29 174.12 173.67 191.52 202.24 220.74 224.90
63.20
71.59
77.89
61.81
84.26
89.29 102.57
81.03
231.13 337.98 326.95 348.56 371.25 425.35 495.59 558.72
164.91 185.57 181.01 184.71 198.17 205.08 217.82 227.57
127.48 132.62 131.08 135.07 136.33 143.80 148.52 147.80
121.74
121.60
121.88
105.54
105.54
105.54
130.81
131.21
130.37
109.60
109.60
109.60
130.46
130.61
130.29
111.59
111.59
111.59
129.26
129.81
128.68
109.92
109.92
109.92
135.65
138.38
132.80
114.59
114.60
114.59
139.66
138.59
140.75
122.19
122.20
122.19
146.32
149.53
142.95
131.33
131.33
131.33
142.33
144.41
140.13
130.36
130.36
130.35
114.27 120.51 120.19 120.28 124.14 125.27 126.25 128.46
106.35
108.03
104.80
112.34
127.45
123.89
107.56
111.75
114.43
112.61
108.78
136.87
134.38
109.14
123.19
114.19
110.22
109.20
134.45
132.59
108.54
106.13
114.82
114.88
107.32
136.63
134.48
108.48
124.35
117.69
113.35
112.55
139.76
139.03
108.73
101.68
119.26
124.53
111.72
139.78
143.25
109.21
115.54
115.75
116.59
114.98
143.74
147.40
109.45
117.72
117.95
119.52
117.26
142.94
151.24
109.87
133.05 145.22 143.51 148.03 150.48 156.80 164.30 169.98
137.50 151.06 148.97 154.49 157.37 163.58 172.24 178.53
106.18 116.82 115.13 117.84 120.16 123.78 127.97 131.19
131.03
136.74
125.75
114.94
138.73
146.42
131.63
123.72
136.90
145.81
128.68
127.68
142.02
150.17
134.50
130.93
142.95
150.97
135.54
123.98
143.73
150.80
137.18
120.50
149.80
157.53
142.64
132.12
152.42
158.96
146.42
134.16
183.62 219.36 211.66 222.42 238.05 253.47 275.14 293.05
78.27
88.71
89.74
90.58
96.77
92.67 105.06 127.72
279.82 373.29 361.15 383.34 410.89 455.71 521.20 579.68
171.61 197.41 189.44 199.06 213.17 225.32 238.34 245.82
125.02 129.38 129.70 134.07 129.32 142.67 138.97 143.84
126.45
126.97
125.87
116.01
116.01
116.01
134.78
135.52
133.96
124.65
124.65
124.65
131.95
133.23
130.57
124.73
124.73
124.73
136.62
138.66
134.41
125.92
125.92
125.92
141.81
140.82
142.86
127.07
127.07
127.07
143.88
143.19
144.62
133.79
133.79
133.79
152.92
151.76
154.15
143.13
143.13
143.13
155.69
153.68
157.83
151.38
151.38
151.38
113.82 120.06 119.94 120.29 120.90 127.64 130.41 133.58
65.58
111.65
131.23
109.77
119.41
141.45
105.62
72.71
115.75
141.57
108.20
131.88
156.64
107.59
74.32
116.07
142.04
110.62
121.60
154.31
106.28
74.42
111.42
142.09
109.77
154.18
157.00
108.64
72.34
115.97
143.35
107.70
126.69
161.19
109.99
79.33
127.31
149.12
110.16
135.99
165.61
111.87
81.05
129.34
144.58
113.41
149.43
171.31
112.06
84.47
131.36
147.33
114.41
156.31
178.47
113.05
112.32 110.25 103.00 106.20 117.38 108.28 107.13 112.27
129.66 143.68 142.34 142.86 152.24 158.58 168.75 169.57
139.59 153.63 150.84 156.57 160.69 168.20 176.44 183.20
1996
1996
II
III
Chain-type price indexes
Exports of goods and
services
Exports of goods 1
Foods, feeds, and beverages
Industrial supplies and
materials
Durable goods . .
Nondurable goods
Capital goods, except
automotive
Civilian aircraft, engines,
and parts
Computers, peripherals, and
parts
Other
Automotive vehicles, engines,
and parts
Consumer goods, except
automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Exports of services 1
Transfers under U.S. military
agency sales contracts
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Other
Imports of goods and
services
Imports of goods
Foods, feeds, and beverages
Industrial supplies and
materials, except petroleum
and products
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except
automotive
Civilian aircraft, engines,
and parts
Computers, peripherals, and
parts
Other
Automotive vehicles, engines,
and parts
Consumer goods, except
automotive
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods . .
Imports of services '
Direct defense expenditures ...
Travel .
Passenger fares
Other transportation
Royalties and license fees
Other private services
Other
Addenda:
Exports of agricultural
goods2
Exports of nonagricultural
goods
Imports of nonpetroleum
goods
III
1997
IV
I
II
III
103.44 101.61 102.14 101.47 100.35
99.90
99.72
99.21
96.06
95.55
94.99
94.35
101.74
98.27
99.24
97.89
113.49 126.27 133.86 128.50 117.48 117.60 117.98 115.48
121.32 115.72 115.62 115.05 115.29 115.52 115.36 115.71
117.82 113.74 114.56 112.30 112.12 113.19 113.30 113.32
123.27 116.78 116.16 116.58 117.06 116.81 116.48 117.03
88.73
81.56
82.36
80.68
78.60
77.42
76.31
75.28
109.60 114.01 113.35 114.97 115.70 117.81 117.63 118.82
59.65
92.97
44.97
87.85
45.84
88.68
43.23
87.16
40.46
85.25
37.77
84.49
35.06
84.28
32.64
83.96
103.13 104.25 104.13 104.24 104.53 104.92 105.15 105.21
102.91
101.52
104.40
105.79
105.79
105.79
104.27
102.71
105.95
103.61
103.61
103.61
104.25
102.75
105.87
104.52
104.56
104.56
104.39
102.86
106.05
103.38
103.42
103.42
104.53
102.92
106.27
101.61
101.65
101.65
104.80
103.38
106.32
101.12
101.16
101.16
104.86
103.75
106.05
101.12
101.17
101.17
105.18
103.77
106.72
100.38
100.42
100.42
107.61 110.21 109.53 110.70 111.55 111.29 112.23 112.12
109.65
112.89
112.16
107.16
110.14
108.43
128.28
110.56
114.09
102.75
106.69
110.55
108.78
129.06
110.84
114.62
109.52
105.73
110.79
109.16
131.79
109.69
114.78
108.05
105.06
111.15
109.36
131.76
98.76
98.75
97.42
95.52
94.81
97.47
97.42
96.11
93.87
93.18
110.58
107.20
109.82
102.99
107.34
106.08
117.80
111.29
111.60
109.86
105.61
109.41
107.81
122.10
110.54
111.07
108.14
105.23
109.17
107.68
118.51
109.83
112.38
109.73
105.69
109.62
107.95
126.05
101.62
99.41
99.83
101.12
98.30
98.88
113.17 110.72 112.89 110.06 110.71 111.37 113.17 112.05
111.17
111.63
110.80
94.73
109.62
110.07
109.26
113.99
109.51
110.41
108.71
112.45
108.70
109.99
107.49
112.85
109.35
109.86
108.95
128.60
110.46
111.36
109.66
123.38
108.90
112.51
105.41
104.18
109.65
112.95
106.47
101.73
89.83
77.78
79.47
76.05
72.32
69.65
68.05
66.63
108.75 113.54 113.14 114.47 114.99 117.21 117.65 118.63
63.47
100.02
52.01
87.18
52.87
89.42
50.65
85.15
48.16
80.62
45.26
78.03
42.64
77.23
40.00
76.79
107.88 108.57 108.43 108.64 108.67 108.67 108.50 108.90
103.10
103.09
103.12
107.40
107.40
107.40
103.45
103.06
103.87
107.43
107.43
107.43
103.56
103.19
103.97
107.60
107.60
107.60
103.37
102.90
103.89
107.08
107.08
107.08
103.14
102.61
103.72
107.24
107.24
107.24
102.67
101.84
103.57
107.05
107.05
107.05
102.38
101.00
103.89
106.36
106.36
106.36
102.14
100.57
103.84
106.34
106.34
106.34
104.01 105.13 104.68 105.50 105.69 104.31 104.37 103.49
109.01
107.00
104.20
101.07
107.35
100.12
107.16
107.97
109.23
105.58
103.29
109.42
99.25
109.36
106.83
108.17
105.22
103.03
109.17
99.51
108.76
107.94
110.96
104.56
103.32
109.62
98.93
110.20
108.89
109.53
107.13
104.57
110.14
99.08
109.96
101.94
106.66
108.68
104.33
110.55
98.61
109.04
101.45
105.58
112.91
103.88
110.79
98.98
108.74
98.05
104.74
112.86
102.65
111.15
98.34
108.61
115.67 126.61 133.20 128.81 118.80 119.38 118.84 116.80
100.38
95.65
96.13
95.04
93.91
93.31
92.75
92.22
101.86
97.16
97.92
96.32
94.93
93.92
92.98
92.43
National Data • D-21
SURVEY OF CURRENT BUSINESS
January 1998
Table Hi—Chain-Type Quantity and Price Indexes for Government Consumption Expenditures and Gross Investment by Type
[Index numbers, 1992=100]
Seasonally adjusted
Seasonally adjusted
1995
1996
1996
II
Chain-type quantity indexes
Government consumption
expenditures
and gross
investment1
Federal
National defense
Consumption expenditures
Durable goods2
Nondurable goods
Services . .,
Compensation of
general government
employees, except
force-account3
construction
Consumption of
general government
fixed capital 4
Other services
Gross investment
Structures
Equipment
Nondefense
Consumption expenditures
Durable goods2
Nondurable goods
Commodity Credit
Corporation
inventory change
Other nondurables
Services
Compensation of
general government
employees, except
force-account3
construction
Consumption of
general government
fixed capital 4
Other services
Gross investment
Structures
Equipment
State and local
Consumption expenditures
Durable goods2
Nondurable goods
Services
Compensation of general
government
employees, except
force-account3
construction
Consumption of general
government
fixed
capital4
Other services
Gross investment
Structures
Equipment
Addenda:
Compensation of general 3
government employees ....
Federal
State and local
NOTE.—See footnotes to table 3.7.
III
1995
1997
IV
I
II
99,54 100,10
99,83
99.85
99.74 100.50 100.77
89,08
87.92
89.15
88.21
87,04
85.76
87.14
86,89
85,84
87.77
69.25
66.48
90.40
84.56
86.20
72.27
76.05
88.01
86.01
87.09
76.56
80.52
88.45
85.00
86.99
79.98
82.30
87.94
83.44
85.84
67.04
66.02
88.45
80.86
84.57
66.37
70.26
86.93
82.33
85.69
70.43
66.46
87.94
82.58
85.60
66.16
72.52
88.05
85.49
81.89
82.44
81.93
80.64
79.99
79.14
78.93
96.76 94.82 95.08 94.57 94.12
94.74 94.25 94.59 94.08 98.60
74.99 75.34 79.94 73.76 69.89
103.79 107.11 114.86 103.75 102.80
71.79 71.80 76.05 70.43 66.21
93.62 93.17 92.70
94.74 100.30 101.42
59.66 63.13 65.42
96.54 94.56 93.91
55.49 59.61 62.26
96.88
97.46
96.01
95.37
96.72
96.28
95.93
94.84
95.69
95.21
97.54
97.18
98.71
97.60
97.27
97.24
84.13
97.37
75.08
95.57
75.96
96.44
70.86
95.43
74.38
95.61
83.75
96.75
85.82
97.23
85.41
97.03
92.95
90.66
92.07
91.20
90.70
91.10
91.42
90.91
110.42 115.70 115.08 116.42 117.80
101.84 99.49 99.75 98.03 99.16
93.02 100.61 99.96 103.75 99.08
96.90 97.44 99.64 96.76 97.41
89.24 104.93 100.95 112.70 101.49
119.30
101.47
100.06
94.95
106.77
120.73 122.01
102.05 102.13
106.81 97.31
88.29 90.52
130.76 105.85
106.23
107.02
112.02
113.65
106.16
109.78
109.53
118.18
120.12
108.15
110.10
110.06
119.04
121.18
108.61
107.88
108.28
115.98
117.38
107.08
107.97
108.38
115.48
116.79
107.28
108.17
108.63
116.49
117.92
107.41
109.04
108.98
117.32
119.06
107.66
110.73
110.77
119.90
122.24
109.28
104.72 105.08 105.35 105.44 105.54 105.87 106.30 106.90
108.66
129.97
102.60
101.29
108.60
111.57
138.73
106.03
104.30
114.13
111.21
138.30
106.06
104.45
113.54
111.94
138.20
106.03
104.15
114.91
112.66
140.65
109.35
107.84
116.33
113.37
143.86
110.95
109.49
117.57
114.07
144.66
110.28
108.43
119.08
II
III
99.06
114.76
146.73
110.52
108.39
120.88
99.42 98.66 99.13 98.98 98.72 98.87 99.00 99.31
87.97 84.83 85.68 85.07 84.02 83.73 83.27 82.98
104.69 105.06 105.34 105.42 105.54 105.89 106.31 106.91
1996
1996
Chain-type price indexes
Government consumption
expenditures
and gross
investment1
Federal
National defense
Consumption expenditures
Durable goods2
Nondurable goods
Services
Compensation of
general government
employees, except
force-account3
construction
Consumption of
general government
fixed capital4
Other services
Gross investment
Structures
Equipment
Nondefense
Consumption expenditures
Durable goods2
Nondurable goods
Commodity Credit
Corporation
inventory change ...
Other nondurables
Services
Compensation of
general government
employees, except
force-account3
construction
Consumption of
general government
fixed capital4
Other services
Gross investment
Structures
Equipment
State and local
Consumption expenditures
Durable goods2
Nondurable goods
Services
Compensation of general
government
employees, except
force-account3
construction
Consumption of general
government fixed
capital4
Other services
Gross investment
Structures
Equipment
Addenda:
Compensation of general 3
government employees ....
Federal
State and local
III
1997
IV
I
II
III
108.28 111.83 111.23 112.07 112.76 113.74 114.14 114.54
108.34 112.03 111.47 112.05 112.74 114,10 114.46 114.71
106.83
106.44
101.20
100.11
107.11
111.02
110.96
102.41
109.95
111.78
110.58
110.56
102.82
108.19
111.35
111.16
111.26
102.60
109.14
112.12
111.94
112.16
102.17
116.27
112.96
113.14
113.39
102.89
114.14
114.31
113.46
113.70
103.22
107.47
114.81
113.62
113.95
103.01
105.14
115.17
107.45 115.40 114.78 115.87 116.76 119.51 120.16 120.26
109.58
104.92
109.27
118.22
108.31
111.40
106.45
111.22
121.50
110.07
111.67
105.84
110.58
121.04
109.40
111.61
106.69
110.39
122.21
109.00
111.91
107.82
110.29
123.57
108.67
112.50
107.65
111.26
124.09
109.72
112.78
108.07
111.65
125.35
109.95
113.26
108.71
111.10
126.15
109.19
111.88 114.47 113.63 114.25 114.72 116.44 116.87 117.30
113.16 116.32 115.32 116.10 116.74 118.80 119.30 119.87
111.67 112.73 113.87 113.82 109.98 110.07 111.40 111.61
113.39 116.89 115.82 116.64 117.48 119.65 120.14 120.73
120.47 126.39 124.47 125.72 126.91 130.91 131.68 132.41
104.55
105.26
103.72
109.99
97.07
104.51
106.39
102.76
113.14
92.16
104.49
106.19
102.90
112.84
92.66
104.40
106.65
102.53
113.30
91.56
104.15
107.29
101.99
113.92
90.00
104.08
107.60
101.63
114.63
88.66
103.77
107.92
101.67
116.18
87.56
104.43
108.29
101.24
117.11
86.12
108.24
108.14
105.75
105.51
108.51
111.71
111.84
106.39
109.36
112.25
111.08
111.13
106.16
109.96
111.38
112.07
112.23
106.32
109.07
112.75
112.77
113.01
106.45
110.70
113.43
113.54
113.71
106.42
110.77
114.23
113.95
114.02
106.45
108.30
114.90
114.44
114.58
107.01
107.82
115.60
109.88 114.02 113.07 114.45 115.24 116.04 116.75 117.52
106.88 108.74 108.59 108.85 108.95 109.84 110.41 110.57
88.97 90.09 89.23 91.97 92.13 92.76 93.05 93.55
108.69 111.14 110.84 111.34 111.69 112.73 113.64 113.78
110.45 113.93 113.48 114.25 114.90 116.36 117.75 118.20
101.14 99.35 99.68 99.09 98.20 97.49 96.39 95.28
110.43 115.42 114.43 115.75 116.59 118.03 118.73 119.38
111.76 119.00 117.94 119.08 120.08 123.26 123.94 124.26
109.89 114.03 113.08 114.46 115.24 116.04 116.75 117.53
D-22 • National Data
SURVEY OF CURRENT BUSINESS
January 1998
Table 7.14.—Chain-Type Quantity and Price Indexes for Gross Domestic
Product by Sector
Table 7.16.—Implicit Price Deflators for Inventories of Business by
Industry
[Index numbers, 1992=100]
[Index numbers, 1992=100]
Seasonally adjusted
1995
1996
1996
II
Chain-type quantity indexes
Gross domestic
product
Business '
Nonfarm l
Nonfarm less housing
Housina
Farm
Households and institutions ...
Private households
Nonprofit institutions
General government2
Federal
State and local
iiwwvmg
Chain-type price indexes
Gross domestic
product
Business l
Nonfarm *
Nonfarm less housing
Housina
Farm
Households and institutions ...
Private households
Nonprofit institutions
General government2
Federal
.v
State and local
.w-w.
3
III
Seasonally adjusted
1996
1997
II
I
IV
1
107.97 110.95 110.92 111.20 112.38 113.73 114.66 115.53
109.13 112.70 112.61 112.93 114.35 115.92 116.98 117.94
109.38 112.99 112.88 113.25 114.69 116.18 117.23 118.23
109.76 113.61 113.56 113.83 115.36 116.99 118.15 119.27
106.22 107.83 107.26 108.37 109.05 109.53 109.66 109.67
92.13 93.75 94.61 92.56 92.75 98.07 99.75 98.78
109.32 111.52 111.24 111.96 112.66 113.55 114.40 115.28
106.92 100.06 102.26 98.67 95.09 94.77 95.54 95.97
109.41 111.98 111.58 112.47 113.33 114.27 115.11 116.02
99.91
99.34
99.74
99.63
99.58
99.43
99.72 100.01
90.44 87.79 88.48 87.94 87.08 86.80 86.40 86.12
105.05 105.65 105.87 106.00 106.18 106.56 107.00 107.61
107.76 110.22 109.86 110.59 111.10 111.78 112.27 112.67
107.38 109.56 109.26 109.95 110.43 111.00 111.45 111.80
107.50
107.32
109.05
99.01
109.46
109.11
112.48
118.34
109.20
108.88
112.06
114.23
109.76
109.40
112.88
125.11
110.21
109.82
113.63
128.16
110.88
110.47
114.42
121.56
111.29
110.83
115.32
124.35
111.67
111.14
116.29
122.82
108.75 111.19 110.78 111.36 111.98 112.87 113.90 114.79
109.61 113.51 112.56 114.29 115.40 115.86 116.84 118.22
108.71 111.10 110.72 111.25 111.86 112.77 113.79 114.68
110.08 114.58 113.75 114.89 115.62 116.95 117.60 118.21
111.04 116.82 116.09 116.92 117.71 120.19 120.74 121.11
109.61 113.53 112.65 113.93 114.64 115.46 116.15 116.86
NOTE.-See footnotes to table 1.7.
Table 7.15.—Current-Dollar Cost and Profit Per Unit of Real Gross
Domestic Product of Nonfinancial Corporate Business
[Dollars]
Current-dollar cost and profit
per unit of real gross
domestic product >
Consumption of fixed capital
Net domestic product
Indirect business tax and nontax liability
plus business transfer payments less
subsidies
Domestic income
..
Compensation of employees
Corporate profits with inventory
valuation and capital consumption
adjustments
Profits tax liability
Profits after tax with inventory
valuation and capital
consumption adjustments
Net interest
1.050 1.063 1.062 1.064 1.065 1.069 1.072 1.072
.100
.101
.101
.101
.101
.101
.101
.100
.950
.962
.961
.963
.963
.968
.971
.972
.107
.842
.687
.108
.853
.690
.109
.853
.689
.108
.855
.691
.108
.855
.693
.107
.861
.697
.107
.863
.698
.107
.865
.695
.128
.037
.140
.040
.140
.040
.141
.040
.142
.040
.143
.040
.144
.040
.149
.042
.090
.027
.101
.023
.100
.024
.101
.022
.102
.021
.103
.021
.104
.021
.107
.021
1. Equals the deflator for gross domestic product of nonfinancial corporate business with the decimal point shifted
two places to the left.
II
III
Inventories
Farm
Nonfarm
Durable goods
Nondurable goods
Manufacturing
Durable goods
Nondurable goods
Wholesale
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Motor vehicle dealers
Other
Nondurable goods
Other
Durable goods
Nondurable goods
III
1997
IV
I
II
III
107.19 107.20 107.08 106.63 105.93 106.21
105.11 105.03 100.15 103.26 101.90 101.00
107.44 107.45 107.77 107.00 106.36 106.74
106.48 106.52 106.49 106.69 106.25 106.12
108.76 108.74 109.53 107.45 106.54 107.62
107.30 107.32 107.47 106.84 106.13 106.49
104.92 104.68 104.89 104.92 104.52 104.50
111.34 111.79 111.85 110.06 108.80 109.84
107.79 107.22 106.53 106.26 105.62 106.08
104.02 104.14 103.90 103.91 103.80 103.56
114.12 112.38 110.90 110.16 108.61 110.27
108.30
104.26
115.24
104.73
102.44
108.08
107.39
104.39
112.55
106.18
102.54
111.59
106.48
104.14
110.43
106.86
102.26
113.64
106.50
104.17
110.44
104.87
102.24
108.77
105.93
104.06
109.05
103.79
102.07
106.34
106.35
103.83
110.61
104.50
101.79
108.52
106.46
110.06
113.03
107.09
102.76
106.85
110.22
112.94
107.50
103.39
106.96
110.06
112.57
107.52
103.80
107.01
110.48
113.16
107.79
103.44
106.28
109.42
110.90
107.83
103.08
106.53
109.38
110.89
107.76
103.64
109.49 109.96 113.73 109.34 109.15 109.74
114.35 115.20 115.15 116.40 116.50 115.80
107.09 107.36 113.22 105.81 105.46 106.73
1. Implicit price deflators are as of the end of the quarter and are consistent with the inventory stocks shown
in tables 5.12 and 5.13.
National Data •
SURVEY OF CURRENT BUSINESS
January 1998
Table 7,17.—Chain-Type Quantity Indexes for Gross Domestic Product
by Major Type of Product
Table 7.18.—Chain-Type Quantity Indexes for Auto Output
[Index numbers, 1992=100]
[Index numbers, 1992=100]
Seasonally adjusted
Seasonally adjusted
1995
1996
1996
II
Gross domestic product
Final sales of domestic
product
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
Addenda:
Motor vehicle output
Gross domestic product less
motor vehicle output
D-23
III
107,97 110.95 110.92 11120
1995
IV
!
II
1996
1996
1997
II
III
112.38 113,73 114.66 115.53
107.62 110.64 110.66 110.70 111.93 112.77 113.47 114.80
110.91 114.72 114.55 115.17 116.51 119.31 120,49 12130
109.98 113.89 113.89 113.83 115.32 116.66 117.19 119.31
120.66 127.97 128.51 130.25 128.64 133.71 139.00 140.14
116.39 124.84 125.26 125.41 127.35 128.97 132.66 136.70
104.20 105.69 105.06 104.94 108.19 109.52 108.07 108.66
105.48 106.32 106.02 105.82 107.01 108.17 106.63 107.49
105.97 108.08 108.03 108.15 109.17 109.76 110.65 11154
108.33 113.63 114.17 114.19 115.73 116.16 116.27 117.26
120.55 117.55 123.15 120.25 115.23 120.59 117.22 123.72
107.54 110.73 110.50 110.89 112.28 113.50 114.57 115.25
Auto output
Final sales
Personal consumption
expenditures
New autos
. .
Net purchases of used
autos
Producers' durable equipment
New autos
Net purchases of used
autos
Net exports
Exoorts
Imports
Gross government investment
Change in business
inventories of new and used
autos
New
Used
Addenda:
Domestic1 output of new
autos
Sales of imported new autos 2
II!
1997
IV
I
II
III
93.58
98,45
96.09 100,49
99,35
99.31
94,84 100,39
103.75 103.07 106.14 102.94 100.38 105.11
98.13 95.25 96.55 93.43 93.83 94.32
99.69 106.36
89.70 100.20
105.03
98,69 106.68 105,25
102,59 10194
104.64 10144
115.12 118.72 125.26 121.88 113.53 121.44 119.50 118.55
122.99 128.03 128.88 133.95 127.22 136.19 130.82 136.50
120.70 126.10 129.07 133.00 121.72 130.80 126.22 129.36
115.98 121.74 127.40 129.82 112.80 121.87 118.40 118.02
112.40 112.16 108.53 112.99 110.84 109.44 119.00 106.05
123.74 126.62 126.36 131.31 125.96 143.81 139.60 143.34
111.19 102.75 85.19 89.32 115.71 103.02 82.28 100.78
114.30 110.93 116.59 120.25 103.63 109.88 108.14 114.28
101.14 98.06 97.36 97.64 99.15 108.82 102.63 109.56
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and gross government investment.
Table 7.19.—Chain-Type Quantity Indexes for Truck Output
[Index numbers, 1992=100]
1
Truck output
Final sales
Personal consumption
expenditures
Producers' durable equipment
Net exports
Exports
Imports
Gross government investment
Change in business
inventories
1. Includes new trucks only.
142,80 144.61 146.75 141,72 146,38 152,43 147,62 157.14
142.00 147.62 144.57 144.35 152.03 150.72 147.96 158.65
121.45 121 78 120.92 118.29 120.90 119.17 113.36 126.05
167.88 181.34 176.45 184.46 190.80 193.20 192.36 202.08
13454 15623 15636 14753 17717 17557 16989 17636
110.36 11645 119.27 125.33 113.92 133.14 130.75 145.62
102.81 91.90
90.17
79.52 82.80 97.68 109.59 120.72
D-24
SURVEY OF CURRENT BUSINESS
• National Data
January 1998
8. Supplementary TablesTable 8.1.—Percent Change From Preceding Period in Selected Series
[Percent]
Seasonally adjusted at annual rates
1995
996
Personal consumption expenditures:
Current dollars
Chain-type quantity index
Chain-tvoe orice index
Implicit price deflator
Durable goods:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
.. .
Services:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Gross private domestic investment:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Fixed investment:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Nonresidential:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Structures:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Producers' durable equipment:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Residential:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Exports of goods and services:
Current dollars
Chain-type price index
Implicit price deflator
Exports of goods:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Exports of services:
Current dollars
Chain-type quantity index
Chain-type price index
I
II
5.1
2.8
2.3
2.3
7.7
6.0
1.9
1.7
3.6
1.0
2.7
2.6
6.2
4.3
1.9
1.9
7.4
4.9
2.4
2.4
5.2
3.3
1.8
1.8
4.6
3.1
1.4
1.4
5.1
2.4
2.6
2.6
5.0
2.6
2.4
2.4
6.7
3.7
2.9
2.9
3.0
.5
2.5
2.5
6.3
3.3
3.0
2.9
7.6
5.3
2.2
2.2
2.0
.9
1.0
1.0
7.2
5.6
1.5
1.5
5.0
4.0
1.0
1.0
4.3
4.7
-.4
-4
7.8
9.7
-2.6
-1.9
2.4
3.5
-.6 -1.0
-.7 -1.1
-.7
-.7
-8.2
-5.4
-3.0
-3.0
15.0
18.4
-2.9
-2.9
3.3
1.6
1.7
1.7
4.0
1.4
2.6
2.6
6.6
2.6
3.9
3.9
1.6
.6
.9
.9
5.8
2.1
3.7
3.7
7.2 -2.1
4.7 -2.1
2.4
0
2.4
0
5.7
4.3
1.3
1.3
6.1
2.5
3.5
3.4
5.7
2.7
2.9
2.9
6.5
3.1
3.4
3.4
4.9
1.0
3.9
3.9
7.4
3.9
3.4
3.4
6.6
3.9
2.6
2.6
6.5
3.9
2.5
2.5
3.0
1.6
1.4
1.4
6.5
5.1
1.3
75
A
8.2
8 /1
18.0
19.9
-1.0
-1.5
13.0
14.4
-.7
i!s
9.4
9.0
./
ti
-1.4
-1.8
-1.2
8.1
9.2
-1.0
-1.0
10.3
13.0
-1.7
-2.4
16.8
16.5
1.2
11.6
10.1
1.4
1.V
16.1
16.5
9.9
7.9
19
1.9
14.2
10.0
9.7
8.4
10.4
14.9
-3.1
-3.9
16.9
19.1
-1.9
-1.9
-s!i
3.6
3.6
8.5
5.9
2.4
2.4
6.4
11 1 8.3
2? -1.
2.2 -1.
13.5
14.6
12.6
1.8
1.
10.
7.
3
5.
9.
-3.
-3.
8.
5.
2.
20.0
17.9
1.8
1.8
7.1
9.6
4.4
5.9
-i!i
7j
4i8
2.3
2.3
10.9
-2.3
-2.3
2.6
3.0
-L
-t
-1.5
8.7
4.3
4.2
4.2
10.8
-1.0
-1.0
.7
1.6
_f
-19
3.9
3.8
1.0
18.2
15.3
2.5
2.5
_!
2'.6
-3.0
-3.0
-4.5
-1.8
-4.3
5.7
5.7
2.6
2.6
1!
20.4
-2.
255
-43
-4.
-2.7
-4.0
-2.
2.
-5.
-5.
21.
30.
-7.
-6.
12.0
4.
17.
13.
3.
-1.4
-2.3
5.2
9.6
9.7
1.7
-2.6
4!i
15.6
17.1
-1.0
-1.5
3.0
3.9
-.9
-.9
2.1
4.1
6.3
3.9
2.4
2.4
17.2
17.7
-.6
—A
12.4
12.C
— .c
—
f
2.7
2.5
.2
.1
14.7
14.4
.3
.3
-2.0
-2.0
12.9
14.6
-1.5
-l!<j
18.2
19.2
-.8
-.8
-2:
2.8
2.8
-1.0
-4.7
3.9
3.9
11.2
6.7
4.2
4.2
18.7
23.0
-3.5
-3.5
20.9
24.1
-2.6
-2.6
5.4
3.3
2.0
2.0
11.1
7.4
3.4
3.4
6.0
2.7
3.2
3.2
8.0
9.9
17.6
184
2.3
4.4
-2.0
-2.0
2.6
6.7
-3.8
-3.8
-1.8
-1.8
10.2
12.
-2.
-2.
2.
3.
NOTE.—Contributions to the percent change in real gross domestic product are shown in table 8.2.
II
4.6
2.0
2.5
2.5
13.3
14.1
1996
996
Ill
3.2
Implicit price deflator
Gross domestic product:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Nondurable goods:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
IV
III
995
1997
1996
II
Seasonally adjusted at annual rates
22.2
25.
-2.
-2.
.6
3.4
-2.6
-2.6
6.
3.
3.
6.8
7.2
-.4
Imports of goods and services:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Imports of goods:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
11.4
8.9
2.2
2.2
11.9
. .
Imports of services:
Current dollars
Chain-type quantity index
Chain-type price index . .
Implicit price deflator
Government consumption expenditures
and gross investment:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
Federal:
Current dollars
Chain-type quantity index .
Chain-type price index
National defense:
Current dollars
Chain-type quantity index
Chain-type price index . . .
Implicit price deflator
Nondefense:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
State and local:
Current dollars
Chain-type quantity index
Chain-type price Index
Implicit price deflator
Addenda:
Final sales of domestic product:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
9.5
2.2
2.2
2.4
6.8
9.1
-2.2
-2.2
6.8
9.9
-2.8
-2.8
Ill
2.1
1997
IV
I
II
Ill
4.3
3.1
-.9
3.4
-.4
11.4
8.1
14.1 13.2
-1.8 -4.2
-2.3 -4.5
6.5
6.8
0
-.3
11.7
17.9
-5.3
-5.3
11.4
20.5
-7.6
-7.6
11.2
14.6
-3.0
-3.0
8.9
7.2
7.7
-.2
-.4
10.5
-5.3
-5.3
11.8
22.9
-9.0
-9.0
12.1
15.4
-2.9
-2.9
13.2
16.4
-2.1
-2.8
15.7
-5.6
-5.9
167
8.6
6.1
2.4
2.4
6.6
5.5
1.1
1.1
2.7
2.7
.1
0
4.3
1.2
3.1
3.1
2.8
2.1
.7
7
17.9
24.2
-5.1
-5.1
3.2
0
3.3
3.3
3.8
5
33
3.3
6.8
1.8
7.2 -1.1
-.2 3.1
-.4
3.0
2.5
3.1
-.4
3.5
3.5
-.1
-3.3
3.3
3.3
-1.3
-4 1
a!i
3.1
2.4
-1.4
3.9
3.9
2.1
-1.5
6.6
8.8
ZA
3.4
-1.4
-2.1
2.4
10.7
11.0
-1.5
3.9
3.9
1.4
_(
2j
2'.3
.7
-1.6
4.3
-5.6
-5.7
!i
2.5
2.4
9.2 6.4
8.9 10.1
.2 -3.3
.2 -3.3
4.5
3.1
1.4
1.4
2.5
1.1
1.4
1.4
4.9
4.9
7.9
6.6
1.3
1.3
-4.7 -8.0
-7.1 -11.8
2.8
4.3
2.6
4.3
8.7
7.5
l!l
1.1
-1 c
-12
2.2
2.0
5
-l!(
1.7
1.5
8.0
6.1
6.1
6.4 -4.3
4.9 -5.7
1.5
1.5
i'.i 1,5
5.9
3.3
2.5
2.5
5.5
2.7
2.7
27
2.6
1.2
l!5
1.5
4.1
2.3
17
17
6.6
4.5
1.9
2.0
5.6
3.0
2.5
2.5
4.4
2.5
1.9
1.9
6.3
4.7
1.5
1.5
4.6
3.7
5.7
4.3
1.3
1.3
-2.3
-4.2
2.1
1.9
-2.8
-4.6
2.1
1.9
-3.0
-5.2
2.5
2q
-1.1
-5.8
14.6
-.3
-1.1
.9
.9
1.8
1.2
.6
.6
5.4
2.1
3.2
3.2
4.8
1.6
3.2
3.2
6.9
6.3
.6
i
4.4
5.1
2.5
2.5
2.5
5.2
2.8
2.3
2.3
7.0
5.2
2.9
•j C
17
27
2.7
4.5
1.9
2.5
2.6
5.2
2.9
2.2
2.2
8.2
6.5
1.8
1.6
4.7
2.4
2.4
2.2
4.8
2.5
2.A
2.3
7.9
5.9
1.9
1.9
Final sales to domestic purchasers:
Current dollars . .. .
Chain-type quantity index
Chain-type price index
Implicit price deflator
4.9
2.3
2.6
2.
5.2
3.
2.2
2.
7.6
5.8
1.8
1.
4.0
1.5
?4
2.4
5.
2.7
2.4
2.
6.1
4.0
2.0
2.0
3.9
2.9
7.4
6.0
1.3
1.3
Gross national product:
Current dollars
Chain-type quantity index
Chain-type price index
Implicit price deflator
4.
2.
2.
2.
5.
2.
2.
2.
74
5.1.9
1.6
3.
6.
4.
1.
1.
6.5
4.0
2.4
2.4
4.9
3.0
1.8
1.8
4.6
3.1
1.4
1.4
Command-basis gross national product:
Chain-type quantity index
2.
2.
5.7
4.
4.5
4.0
3.2
Disposable personal income:
Current dollars
Chained (1992) dollars
6.
3.
4.
2.
4.
1.
3.
6.
4.
4.
3.
4.1
2.6
Gross domestic purchases:
Current dollars
Chain-type quantity index
Implicit price deflator
sie
3.6
2.
2.5
5.
2.
O A
(
National Data • D-25
SURVEY OF CURRENT BUSINESS
January 1998
Table 8.2—Contributions to Percent Change in Real Gross Domestic
Product
Table 8.3.—Selected Per Capita Product and Income Series in Current
and Chained Dollars
[Dollars]
Seasonally adjusted at annual rates
1995
1996
1996
II
Percent change at annual rate:
Gross domestic product
Percentage points at annual rates:
Personal consumption expenditures
Durable goods
Nondurable goods
Services
Gross private domestic investment ...
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Change in business 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
III
Seasonally adjusted at annual rates
1997
I
IV
II
1995
III
II
2.0
2.8
6.0
1.0
4.3
4.9
3.3
3.1
1.7
1.8
2.5
.4
2.2
3.6
.6
3.8
.3
.3
1.0
A
.3
1.1
.8
.5
1.2
-2
.1
.4
.3
.4
1.5
1.1
.9
1.5
-.5
-.4
1.5
1.4
.8
1.5
.2
1.1
2.6
2.3
.2
2.4
2.5
.4
.7
.8
.1
.7
-.2
-.5
1.1
.9
.1
.8
.2
0
1.9
1.3
.2
1.0
.7
.7
1.4
1.6
.3
1.3
-.2
.8
.4
.6
.4
.2
-.2
-.2
.6
.4
-.1
.5
.1
1.8
1.7
1.4
-.1
1.8
.3
.8
2.0
1.9
.2
1.7
.1
-1.6
.1
-.2
-.6
-.4
-1.3
1.1
.9
,2
.9
.7
.2
1.1
.8
.3
-1.0
-.9
-.1
-1.1
-1.0
-1.7
-1.6
-1.4
.2
.2
0
-1.6
-1.6
-.1
-.1
0
.1
1.3
-.2
-.2
-.2
0
.2
-.1
-.1
0
.2
.6
.5
.1
.7
-.3
-.2
-.1
.1
0
1.8
2.7
2.2
.4
-.8
-.8
0
-1.0
1.1
1.0
.1
-2.1
-1.7
2.0
1.9
.1
-2.5
-2.3
.5
.3
.2
-1.7
-1.6
-.1
-.5
-.2
0
-.1
.6
.2
-.4
-.3
0
.4
-.4
-.6
2
.3
.4
.3
.1
,1
-.1
.1
-.1
.3
Current dollars:
Gross domestic
product
Gross national
product
Personal income
Disposable personal
income
Personal
consumption
expenditures
Durable goods ....
Nondurable
goods
Services
Chained (1992)
dollars:
Gross domestic
product
Gross national
product
Disposable personal
income
Personal
consumption
expenditures
Durable goods ....
Nondurable
goods
Services
Population (mid-period,
thousands)
1997
1996
1996
III
IV
I
II
III
27,605
28,752
28,680
28,869
29,243
29,715
30,030
30,295
27,625
23,370
28,759
24,457
28,691
24,359
28,843
24,604
29,254
24,835
29,662
25,268
29,952
25,525
30,218
25,756
20,349
21,117
21,012
21,229
21,373
21,689
21,865
22,034
18,837
2,312
19,608
2,389
19,562
2,407
19,660
2,386
19,919
2,395
20,247
2,466
20,303
2,409
20,612
2,488
5,607
10,917
5,779
11,441
5,776
11,378
5,786
11,488
5,854
11,669
5,945
11,836
5,901
11,993
5,969
12,154
25,616
26,088
26,111
26,116
26,333
26,599
26,760
26,901
25,642
26,101
26,126
26,102
26,354
26,562
26,704
26,844
18,861
19,116
19,081
19,161
19,152
19,331
19,439
19,518
17,460
2,217
17,750
2,301
17,765
2,318
17,745
2,301
17,848
2,316
18,046
2,389
18,051
2,351
18,258
2,447
5,367
9,877
5,393
10,057
5,397
10,052
5,393
10,052
5,408
10,125
5,460
10,202
5,420
10,278
5,465
10,352
263,194 265,579 265,258 265,887 266,491 266,987 267,545 268,171
D-26 « National Data
SURVEY OF CURRENT BUSINESS
January 1998
Table 8A—Auto Output
Table 8.5.—Real Auto Output
[Billions of dollars]
[Billions of chained (1992) dollars]
Seasonally adjusted at annual rates
1995
1996
1996
II
Auto output
III
Seasonally adjusted at annual rates
1995
1997
IV
I
II
140.4 134.6 144.6 144.5 128.7 136.4 130.2 138.1
Final sales
Personal consumption expenditures
New autos
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
Net exports ..............
Exoorts
Imports
Gross government investment
137.2 140.0 143.0 140.2 138.0 137.9 131.1 137.4
139.5 141.3 145.0 141.5 138.4 145.2 136.7 144.0
87.1
52.4
42.3
74.5
87.0
58.1
45.3
80.8
84.8
56.7
48.0
84.0
85.3
53.2
45.9
76.9
87.9
57.3
48.8
82.5
81.3
55.4
47.4
79.5
16.7
63.8
17.0
65.9
16.4
65.6
17.1
68.3
16.8
65.7
16.6
75.0
18.1
73.0
2.4
2.3
1.9
2.0
2.6
2.3
1.9
3.2
3.1
.2
-5.4
-5.6
.2
1.6
2.5
-.9
4.3
3.7
.6
-9.3
-9.0
-.4
-1.5
-.8
-.6
-.9
.3
-1.2
.7
1.1
-.4
Change in business inventories of new
and used autos
New
Used
16.2
75.5
59.0
58.2
57.6
58.2
59.2
64.8
61.1
65.1
Addenda:
Domestic output of new autosl
Sales of imported new autos 2
78.2
42.1
45.1
72.0
79.3
44.4
45.4
73.7
76.7
43.2
47.2
75.9
16.0
58.2
Change in business inventories
63.7
71.6
63.1
69.8
62.1
72.9
63.9
74.9
63.2
76.1
60.1
75.5
66.8
79.3
-51 -47 -49 -63 -32 -54 -54 -67
77
90
90
85 102 102 100 104
128 137 140 14.8 13.4 15.7 15.3 17.1
81 89
68
61 72
59
67
76
-.7
3.8
1.8
41 _,4 -3.1
2.8
1.0
79.6
43.1
48.0
74.7
73.7
42.4
46.1
72.1
82.3
42.0
48.1
73.9
17.0
65.7
15.1
67.4
2.3
2.1
1.7
2.0
4.0
3.6
.5
-7.9
-8.1
-1.8
-1.0
.9
2.3
-.6
0
• -.5
.3
.8
15.5
59.4
16.1
61.8
2.1
1.7
1.8
2.2 -4.7
2.5 -5.2
-.1
.3
1.8
2.0
-.1
.3
2.2
.6
15.8
59.2
0
-.7
.5
-1.2
.4
.5
114.2 110.9 116.5 120.2 103.6 109.8 108.1 114.2
54.5
52.9
52.5
52.6
53.5
58.7
55.3
59.1
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and gross government investment.
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, excluding the
lines in the addenda.
[Billions of chained (1992) dollars]
62.0
65.8
77.0
40.2
44.9
69.5
15.6
67.6
16.0
59.6
Table 8.7.—Real Truck Output
133.1 136.7 138.9 134.2 138.5 145.0 140.2 149.3
130.3 137.4 134.7 134.6 141.6 141.1 138.3 148.3
III
-25.3 -26.6 -27.8 -28.4 -24.6 -26.6 -25.9 -25.8
-42.2 -43.6 -43.9 -45.6 -43.4 -52.0 -48.7 -52.3
[Billions of dollars]
Truck output1
80.6
40.8
43.4
68.9
Table 8.6.—Truck Output
Finai sales
Personal consumption expenditures
Producers' durable equipment
Net exports
Exports
Imports
Gross government investment
II
I
125.2 124.4 127.7 123.8 121.3 121.2 115.8 122.6
122.0 121.2 124.8 121.0 118.0 123.6 117.2 125.0
.2
Residual
122.8 121.1 127.3 131.6 113.5 120.8 116.8 126.3
1997
IV
III
127.6 119.9 129.6 127.9 113.7 119.7 116.8 122.1
AutO OUtDUt
2.3
90.7
53.3
50.4
81.4
1. Consists of final sales and change in business inventories of new autos assembled in the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and gross government investment.
1. Includes new trucks only.
II
Final sales
Personal consumption expenditures
New autos
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
Net exports
.
Exports
;
Imports
Gross government investment
-32.2 -33.9 -35.5 -35.9 -31.1 -33.7 -32.1 -31.0
-47.1 -48.9 -49.2 -51.3 -48.8 -58.4 -54.9 -59.4
Change in business inventories of new
and used autos
New
Used
Addenda:
Domestic output of new autos 1
Sales of imported new autos2
86.1
55.3
45.3
79.2
1996
1996
Hi
Truck output1
Final sales
Personal consumption expenditures
Producers' durable equipment
Net exports
Exports
Imports
Gross government investment
Change in business inventories
Residual
119.6
117.0
55.6
58.9
-43
7.5
11.8
6.8
2.6
o
121.1 122.9 118.7 122.6 127.6 123.6 131.6
1?17
55.8
63.7
119.1 1190
125.3 124.2 121.9 130.7
55.4
61.9
54.2
64.7
-37
8.7
-40
8.7
-51 -23
8.2
9.8
12.4
12.7
13.4
6.1
5.9
5.2
-.6
-.2
3.9
-2
-.3
.1
55.4
67.0
12.1
5.5
-2.9
-1
54.6
67.8
51.9
67.5
57.7
70.9
-44 -45
9.4
9.8
-57
98
14.2
15.5
13.9
6.4
7.2
3.6
1.7
.9
-.4
-2
-.2
8.0
1. Includes new trucks only.
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.
National Data • D-27
SURVEY OF CURRENT BUSINESS
January 1998
Bo Other NIPA and NiPA-Related Tables.
Monthly Estimates:
Tables B.i and B.2 include the most recent estimates of personal income and its components; these estimates were
released on December 24, 1997 and include "preliminary" estimates for November 1997 and "revised" estimates
for July through October.
Table B.1.—Personal income
[Billions of dollars; monthly estimates seasonally adjusted at annual rates]
1997
1996
1995
1996
Oct.
Personal income
Wage and salary disbursements
Private industries .....
Commodity-producing industries
Manufacturing ..
Distributive industries
Service industries
Government
Other labor income
Proprietors' income with IVA and CCAdj
Farm
Nonfarm
Rental income of persons with CCAdj
Personal dividend income
Personal interest income
Transfer payments to persons
Old-age, survivors, disability, and health insurance benefits
Government unemployment insurance benefits
Other
Less: Personal contributions for social insurance
Nov.
Dec.
Jan.
6,150.8
3,429.5
2,806.5
864.4
648.4
783.1
1,159.0
623.0
6,495.2
3,632.5
2,989.9
909.1
674.7
823.3
1,257.5
642.6
6,575.6
3,683.5
3,035.4
921.7
681.8
832.1
1,281.6
648.1
6,615.2
3,713.4
3,064.4
926.5
684.7
840.8
1,297.1
649.1
406.8
488.9
407.6
520.3
407.2
526.6
408.7
528.4
411.4
40.5
39.9
23.4
37.2
465.5
132.8
251.9
718.9
483.1
146.3
291.2
735.7
1 0150
507.8
1 0680
537.6
40.8
485.8
149.2
293.7
747.8
1 0770
542.3
Feb.
Mar.
May
June
July
Aug.'
Sept.'
Oct.'
Nov.*
6,800.9
3,822.1
3,161.2
950.3
699.5
863.1
1,347.7
660.9
6,822.8
3,835.1
3,173.1
953.7
700.3
865.0
1,354.5
661.9
6,863.5
3,867.6
3,204.5
954.5
701.2
872.9
1,377.1
663.1
6,873.1
3,870.0
3,204.6
955.5
701.5
872.2
1,376.8
665.4
6,912.2
3,902.3
3,234.5
962.0
706.5
883.7
1,388.9
667.8
6,935.5
3,916.1
3,246.2
966.6
710.0
886.4
1,393.3
669.8
6,974.4
3,943.7
3,271.7
975.6
718.1
892.9
1,403.2
672.0
7,028.0
3,986.8
3,313.2
983.2
723.4
902.8
1,427.3
673.5
415.3
543.6
43.8
499.8
148.9
318.3
766.0
1 116.6
564.8
21.9
529.9
320.9
415.6
546.5
416.6
546.8
417.6
546.1
418.9
548.7
420.1
554.2
421.4
Apr.
6,664.4
3,753.7
3,104.0
935.2
690.4
848.9
1,319.9
649.7
6,700.1
3,754.1
3,098.7
936.3
690.5
847.7
1,314.6
655.5
6,750.3
3,799.1
3,140.9
943.4
693.4
857.9
1,339.6
658.2
6,788.2
410.5
532.2
412.5
534.5
413.9
537.2
414.4
39.9
41.4
43.0
529.8
487.9
490.0
149.2
149.1
295.0
296.9
749.8
751.8
1 081.8 1 0855
546.2
548.2
39.4
492.8
148.5
310.7
754.3
1 1055
559.5
3,821.3
3,161.7
948.8
698.4
864.8
1,348.1
659.7
540.9
494.6
497.9
495.8
149.2
149.3
149.3
314.4
312.5
316.3
760.4
763.4
757.0
1 104.1 1 111 9 1 1146
562.4
555.6
561.5
21.4
22.0
21.3
21.1
22.3
22.1
22.0
22.0
22.0
485.7
293.1
508.4
306.3
513.4
309.4
514.6
515.0
313.8
523.9
315.8
526.5
318.7
528.4
320.1
530.2
320.1
pr Preliminary.
Rev.sed.
CCAdj Capital consumption adjustment
IVA inventory valuation adjustment
311.3
44.0
502.4
147.8
320.3
768.9
1 1197
565.9
43.0
503.9
147.4
322.4
771.0
1 122.1
567.3
40.8
505.3
148.5
324.5
772.5
1 125.9
570.4
39.0
509.6
148.2
326.6
774.3
1 129.0
570.4
558.7
39.8
40.6
514.4
518.1
147.8
328.6
776.9
1 131.0
571.9
147.5
330.7
780.1
1 133.6
572.5
21.9
21.7
21.4
21.6
21.4
21.4
531.9
533.1
323.1
534.1
325.2
537.0
326.1
537.7
327.9
539.6
330.8
323.0
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
Table B.2.—The Disposition of Personal Income
[Monthly estimates seasonally adjusted at annual rates]
1996
1995
1997
1996
Dec.
Nov.
Oct.
Mar.
Feb.
Jan.
May
Apr.
June
July
Aug.'
Sept/
Oct.'
NOV.P
6,863.5
988.9
5,874.5
5,623.5
5,451.9
647.0
1,582.6
3,222.3
154.0
6,873.1
991.2
5,881.9
5,690.4
5,518.7
670.8
1,597.6
3,250.3
153.5
6,912.2
999.3
5,913.0
5,699.3
5,525.8
670.5
1,599.8
3,255.5
155.2
6,974.4
1,011.3
5,963.0
5,738.8
5,563.1
657.6
1,606.5
3,299.0
157.5
18.2
224.2
7,028.0
1,022.3
6,005.7
5,764.0
5,587.3
662.7
1,609.3
3,315.3
158.5
18.2
241.7
5,269.0
5,298.4
Billions of dollars, unless otherwise indicated
Personal income
Less: Personal tax and nontax payments
Equals'. Disposable personal income
Less" Personal outlavs
Personal consumption expenditures
Durable goods
Nondurable goods
....
Services
Interest paid by persons
Personal transfer payments to rest of world
Equals: Personal savings
Addenda:
Disposable personal income:
Billions of chained (1992) dollars1
Per capita:
Current dollars
Chained (1992) dollars
Population (thousands)
Personal consumption expenditures:
Billions of chained (1992) dollars
Durable goods
Nondurable goods
Services
Implicit price deflator 1992=100
Personal saving as percentage of disposable personal income2
6,150.8
795.1
5,355.7
5,101.1
4,957.7
608.5
1,475.8
2,873.4
128.5
6,495.2
886.9
5,608.3
6,615.2
921.7
5,693.5
5,470.2
5,302.7
638.4
1,558.1
3,106.2
150.8
6,664.4
936.8
5,727.6
5,505.9
5,336.4
637.4
1,564.6
3,134.5
152.8
6,700.1
942.3
5,757.8
5,565.9
5,396.7
661.0
1,584.5
3,151.1
152.2
6,788.2
14.8
15.9
16.7
16.7
16.7
17.0
17.0
17.0
17.6
17.6
17.6
18.2
18.2
254.6
239.6
216.3
223.3
221.7
191.9
214.2
241.7
238.2
251.8
251.0
191.4
213.7
6,935.5
1,003.5
5,932.0
5,712.6
5,537.8
660.7
1,604.9
3,272.2
156.6
18.2
219.4
4,964.2
5,076.9
5,087.2
5,101.1
5,123.0
5,142.3
5,159.4
5,181.4
5,185.5
5,198.7
5,218.3
5,214.8
5,239.8
5,247.8
5,368.8
5,207.6
634.5
1,534.7
3,038.4
145.2
6,575.6
909.4
5,666.2
5,450.0
5,285.4
638.8
1,557.8
3,088.8
147.9
6,750.3
957.7
5,792.7
5,578.5
5,409.7
659.8
1,589.0
3,160.9
151.7
967.0
5,821.2
5,579.5
5,410.8
654.4
1,588.6
3,167.8
151.6
6,800.9
970.4
5,830.5
5,592.3
5,422.0
642.9
1,577.0
3,202.1
152.7
6,822.8
978.3
5,844.5
5,592.7
5,422.4
643.5
1,577.1
3,201.8
152.7
20,349 21,117 21,277 21,364 21,478 21,579 21,697 21,789 21,808 21,845 21,941 21,951 22,049 22,102 22,201 22,345
19,142 19,211 19,272 19,326
19,103
19,394 19,396 19,431 19,490 19,462 19,539
18,861
19,116
19,553 19,617 19,713
263,194 265,579 266,308 266,492 266,672 266,826 266,975 267,161 267,354 267,541 267,741 267,952 268,171 268,391 268,594 268,775
4,595.3
583.6
1,412.6
2,599.6
107.9
4.8
4,714.1
611.1
1,432.3
2,671.0
110.5
4.3
4,745.2
616.0
1,443.7
2,686.1
111.4
3.8
4,751.0
617.2
1,439.3
2,694.7
111.6
3.9
4,773.1
618.2
1,440.7
2,714.0
111.8
3.9
4,819.8
641.2
1,456.0
2,724.2
112.0
3.3
4,818.3
638.4
1,458.1
2,723.2
112.3
3.7
4,816.1
633.8
1,459.2
2,724.2
112.3
4.2
4,822.2
625.9
1,446.3
2,749.1
112.4
4.1
4,823.2
628.1
1,449.1
2,745.5
112.4
4.3
4,842.9
633.0
1,454.7
2,755.0
112.6
4.3
4,892.8
657.7
1,466.0
2,771.0
112.8
3.3
4,896.8
659.9
1,464.8
2,774.1
112.8
3.6
4,899.0
650.9
1,465.6
2,783.2
113.0
3.7
4,915.7
649.6
1,466.2
2,799.8
113.2
3.8
4,929.3
655.4
1,469.2
2,805.1
113.3
4.0
Percent change from preceding period
Personal income, current dollars
Disposable personal income:
Current dollars
Chained (1992) dollars
Personal consumption expenditures:
Current dollars
Chained (1992) dollars
6.2
5.6
6.0
3.3
4.7
2.3
5.1
2.4
5.0
2.6
0.6
0.7
0.5
0.7
0.6
0.2
0.3
0.6
0.1
0.6
0.3
0.6
0.8
-.1
-.5
.5
.3
.6
A
.5
.4
.6
.3
.5
.4
.2
.1
.2
.3
.5
.4
.1
-1
.5
.5
.3
.2
.5
.4
.7
.6
.9
.6
.3
.1
.6
.5
1.1
1.0
.2
0
0
0
.2
.1
0
0
.5
.4
1.2
1.0
.1
.1
.2
0
.5
.3
.4
.3
-0.1
1. Disposable personal income in chained (1992) dollars equals the current-dollar figure divided by the implicit
price deflator for personal consumption expenditures.
2. Monthly estimates equal personal saving for the month as a percentage of disposable personal income for
that month.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
D-28
• National Data
SURVEY OF CURRENT BUSINESS
January 1998
Annual Estimates:
Except as noted, these tables are derived from the NIPA tables published in the August 1997 SURVEY OF CURRENT
BUSINESS; they are consistent with the most recent comprehensive and annual revisions.
Table B.3.—Gross Domestic Product by Industry, Current-Dollar and Real Estimates for 1994-96
Billions of dollars
1994
Gross domestic product
Private industries
Agriculture, forestry and fishing
Farms
Agricultural services, forestry and fishing .....
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals except fuels
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone clay and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment ...
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries ...
Nondurable goods
Food and kindred products
Tobacco products
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaenous plastics
Leather and leather products
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit ....
Water transoortation
TrsnQnfirtfltifin hv flir
Pipelines except natural gas
1995
Billions of chained
(1992) dollars
1996
1994
1995
Billions of dollars
6,947.0 7,265.4 7,636.0 6,610.7 6,742.1 6,928.4
6,013.5 6,301.3 6,639.8 5,763.6 5,921.4 6,094.1
119.2
111.0
129.8
119.1
111.4
111.7
83.5
35.7
73.5
37.5
89.4
40.5
84.9
34.9
74.2
37.0
75.5
37.6
94.9
99.8
113.6
6.8
102.5
5.7
108.4
5.5
101.9
6.3
15.5
72.2
15.7
77.7
9.2
9.5
16.6
69.4
10.1
249.8
254.1
5.9
13.1
66.7
6.8
12.3
71.0
9.2
9.6
12.3
84.4
10.2
268,7
286.4
306.1
264.3
1,216.1 1,286.3 1,332.1 1,193.2 1,273.7 1,323.7
679.2 716.8 749.0 671.3 731.2 785.5
38.4
18.5
28.8
46.3
84.2
40.7
19.4
30.7
52.0
89.5
41.4
20.5
32.7
50.6
98.2
29.8
18.0
27.0
45.0
84.5
31.6
18.7
27.7
44.4
89.7
33.6
18.8
29.1
46.8
94.0
122.3
132.9
142.4
134.0
150.2
143.8
131.5
145.8
164.5
175.6
186.1
217.4
87.4
49.5
48.7
22.2
87.3
46.9
49.7
24.3
85.1
49.7
52.3
24.6
78.0
47.6
45.1
21.5
79.3
43.8
42.6
22.8
76.1
44.5
38.3
23.3
536.9
109.6
569.5
118.7
583.1
122.6
522.0
106.5
543.2
120.9
541.0
112.9
16.3
25.4
28.2
51.3
86.0
17.6
23.6
27.3
59.9
85.0
18.1
25.5
26.6
57.1
90.4
22.3
27.3
28.3
52.1
78.0
24.3
25.4
28.5
45.4
77.5
23.9
26.6
26.9
47.3
74.3
140.6
155.9
157.8
131.2
138.9
142.2
30.4
44.4
30.2
46.1
30.1
49.7
27.6
45.4
32.2
48.2
33.8
50.9
4.7
5.1
5.2
4.5
4.7
4.8
598.7
219.9
622.4
228.7
645.3
235.1
584.1
214.3
593.8
216.0
608.9
220.8
24.2
11.4
95.0
10.9
51.7
24.5
12.4
97.5
10.8
54.9
25.3
13.6
92.2
11.2
63.2
25.9
11.0
88.7
10.8
51.4
27.7
12.0
87.4
11.0
49.8
31.0
12.2
80.3
10.7
59.0
4.6
5.7
5.5
4.8
5.4
5.0
1. The current-dollar statistical discrepancy equals gross domestic product (GDP) measured as the sum of expenditures less gross domestic income—that is, GDP measured as the costs incurred and profits earned in domestic
production. The chained (1992) dollar statistical discrepancy equals the current-dollar discrepancy deflated by the
implicit price deflator for gross domestic product.
2. Equals GDP in chained (1992) dollars less the statistical discrepancy and the sum of GPO of the detailed
industries.
1994
1996
Transportation services
Communications
Telephone and telegraph
Radio and television
Electric oas and sanitary services
1995
1996
Billions of chained
(1992) dollars
1994
1995
1996
22.1
23.0
24.0
21.7
23.2
24.0
184.6
142.1
191.6
144.1
200.3
149.6
176.9
137.9
178.4
136.4
181.6
141.2
42.5
47.5
50.6
38.8
41.7
40.4
194.2
202.0
210.0
193.1
199.6
207.0
Wholesale trade
468.0
484.4
516.8
448.6
457.5
493.3
Retail trade
615.3
637.6
667.9
601.2
622.5
648.5
Finance, insurance, and real estate
Depository instituions
Nondepository institutions
Security and commodity brokers
Insurance carriers
Insurance agents, brokers, and services
Real estate
Nonfflim hoiiQinn ^prwirp^
Other real estate
Holding and other investment offices
Services
Hotels and other lodging places
Personal services . ..
Business services
Auto repair, services, and parking
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
Legal services
Educational services
Social services
Membership organizations
Other services
Private households
1,267.6 1,361.3 1,448.5 1,196.9 1,231.1 1,258.5
207.4 229.6 247.4 197.0 193.4 192.0
36.1
78.5
39.0
79.5
49.9
90.0
108.8
126.5
136.6
45.0
47.1
50.4
802.9
607.3
195.6
-11.1
842.7
642.8
199.9
886.2
673.3
212.9
-12.0
-3.2
33.9
83.0
91.3
41.6
32.6
81.9
35.4
92.2
105.1
110.1
42.1
43.6
758.3
573.3
185.0
775.6
587.9
187.7
793.3
596.8
196.6
12.9
12.6
12.6
1,350.4 1,440.3 1,539.5 1,256.5 1,298.8 1,342.9
57.4
45.8
60.6
46.6
63.7
49.1
54.4
42.6
55.4
42.4
55.8
43.3
256.0
283.3
318.5
247.1
271.3
295.7
59.3
19.2
23.0
51.4
61.1
20.7
25.9
56.2
65.0
22.5
29.9
60.8
53.3
16.7
21.8
47.5
53.3
17.0
23.9
49.7
55.3
15.9
26.2
51.6
410.2
428.9
371.6
376.6
96.5
55.1
46.7
47.0
447.0
100.0
369.7
93.8
52.3
43.2
45.1
58.2
49.3
48.9
86.0
48.9
41.6
42.1
85.5
49.6
43.7
42.5
85.1
50.7
44.9
43.1
182.6
199.9
215.2
175.4
184.6
192.9
11.0
11.8
11.5
10.4
10.8
10.1
14.6
-28.2
-59.9
13.9
-26.3
-54.7
933.5
964.1
996.3
878.3
877.4
874.1
Federal
General government
Government enterprises
324.9
275.2
326.2
275.5
331.5
281.4
306.9
258.4
297.1
248.1
290.6
240.9
49.7
50.7
50.2
48.6
49.0
49.7
State and local .
General government
Government enterprises
608.6
557.5
637.9
583.4
664.7
607.6
571.3
524.2
580.3
532.2
583.4
535.2
51.1
54.5
57.1
48.0
48.2
Statistical discrepancy
Government
Not allocated by industry2
47.1
-60.4
-87.9 -101.1
NOTE—Estimates are based on the 1987 Standard Industrial Classification. The table is derived from tables 7
and 10 in "Gross Product by Industry, 1947-96" in the November 1997 SURVEY OF CURRENT BUSINESS.
National Data •
SURVEY OF CURRENT BUSINESS
January 1998
D-29
Table B.4.—Personal Consumption Expenditures by Type of Expenditure
Billions of dollars
1994
Personal consumption expenditures
Food and tobacco
Food purchased for off-premise consumption
(n.d.)
Purchased meals and beverages x (n.d.)
Food furnished to employees (including military) (n.d.)
Food produced and consumed on farms (n.d.)
Tobacco products (n.d.) .
Addenda: Food excluding alcoholic beverages (n.d.)
Alcoholic beverages purchased for off-premise
consumption (n.d.)
Other alcoholic beverages (n.d.)
Clothing, accessories, and jewelry
Shoes (n.d.)
..
.*.
Clothing and accessories except shoes2
Women's and children's (n.d.)
Men's and boys' (n.d.)
Standard clothing issued to military personnel (n. d)
Cleaning, storage, and repair of clothing and shoes (s.)
Jewel-y and watches (d.)
1995
1994
1995
1996
4,717.0 4,957.7 5,207.6 4,486.0 4,595.3 4,714.1
761.7
451.6
254.3
8.1
.5
783.8
462.2
264.1
8.4
.4
805.7
478.4
268.7
8.7
.4
735.0
434.5
245.1
7.8
.5
737.9
433.4
248.7
7.9
.5
736.5
434.7
246.6
8.0
.4
47.3
48.7
49.6
47.2
47.4
46.8
633.6
652.0
669.9
608.7
610.2
608.7
53.9
27.0
54.9
28.2
57.3
28.9
53.7
25.6
54.5
25.9
55.5
25.7
312.7
323.4
336.3
308.5
321.8
335.3
36.0
36.8
38.1
35.7
36.6
37.6
211.6
137.5
217.7
141.3
226.0
145.8
211.2
137.0
220.6
144.2
229.9
150.7
74.1
76.4
80.2
74.1
76.4
79.2
.3
.3
.3
.3
.3
.3
12.3
39.3
17.1
12.3
41.6
18.1
11.0
35.6
14.7
11.5
36.8
16.0
11.3
39.7
16.6
45.3
23.0
71.9
47.2
24.7
75.7
49.9
25.7
65.5
43.7
21.8
67.9
45.0
22.9
70.1
47.0
23.0
712.7
507.0
174.0
5.8
750.3
532.2
184.6
5.9
787.2
558.3
193.6
6.1
674.3
479.6
165.2
5.2
688.2
487.2
171.1
5.2
700.2
495.3
174.9
5.1
11.6
37.7
15.6
Personal care . .
...
Toilet articles and preparations (n.d.) ...
Barbershops, beauty parlors, and health clubs (s.)
Housing
Owner-occupied nonfarm dwellings space rent4 (s.)
Tenant-occupied nonfarm dwellings rent5 (s.)
Rental value of farm dwellings (s.)
Other6 (s)
Household operation
Furniture, including mattresses and bedsprings (d.)
Kitchen and other household appliances^ (do .
China, glassware, tableware, and8 utensils (d.)
Other durable house furnishings
(d.) .
Semidurable house furnishings 9 (n d )
Cleaning and polishing preparations, and miscellaneous
household supplies and paper products (n. d)
Stationery and writing supplies (n.d )
Household utilities
Electricity (s.)
Gas (s )
Water and other sanitary services (s.)
Fuel oil and coal (n.d.)
Telephone and telegraph (s.)
Domestic
service (s.) ....
Other10 (s.)
Medical care
Drug preparations and sundries " (n.d.)
Ophthalmic products and orthopedic appliances (d.)
Physicians (s.)
Dentists (s.)
Other professional services 12 (s.)
Hospitals and nursing homes "
Hospitals
Nonprofit (s.)
Proprietary (s.) ....
Government (s.) ..
Nursing homes (s.) .
Health insurance
Medical care15and hospitalization " (s.)
Income loss (s.) ...
Workers' compensation 16 (s.)
1996
68.4
26.0
27.5
29.1
24.3
24.8
25.0
535.0
562.8
591.9
514.5
533.6
548.4
45.9
25.6
24.0
52.3
27.2
48.0
27.2
25.3
54.5
28.9
49.6
27.8
27.4
58.2
30.1
43.2
25.0
23.5
51.4
25.7
44.2
26.6
25.0
53.1
26.9
44.6
27.1
26.9
56.1
28.2
50.8
15.1
52.3
15.8
54.5
17.0
50.2
14.4
50.0
14.4
50.6
14.8
163.8
168.5
177.9
156.3
159.4
163.1
84.2
32.4
36.6
10.5
82.6
90.3
34.9
41.1
11.9
35.8
88.0
31.5
38.8
10.2
90.2
12.8
39.4
11.6
96.9
12.5
40.1
82.6
30.0
33.0
10.7
79.6
11.2
34.2
84.3
30.7
33.8
10.5
86.6
11.7
35.9
85.2
32.7
34.6
10.6
91.1
11.0
35.3
826.1
871.6
912.8
751.0
766.2
782.4
81.6
12.9
85.7
13.1
90.9
13.9
76.7
12.3
79.1
12.2
81.7
12.6
180.0
191.4
196.5
162.4
166.1
169.3
43.9
95.7
47.6
50.9
104.4
375.9
310.6
207.9
110.2
394.2
325.1
217.3
39.8
89.2
41.1
95.6
42.0
99.1
331.5
276.9
187.8
336.6
278.5
188.2
343.1
284.4
191.8
34.5
68.2
65.2
37.1
70.7
69.1
29.2
31.9
60.7
58.7
53.6
40.7
56.3
41.8
30.3
60.0
58.1
37.5
35.2
357.0
298.1
200.2
32.1
65.8
58.9
55.0
42.9
2.7
9.4
2.9
10.0
3.2
11.3
59.9
54.6
40.0
36.6
2.4
2.3
2.5
1.8
36.9
34.7
2.6
1.8
1. Consists of purchases (including tips) of meals and beverages from retail, service, and amusement establishments, hotels, dining and buffet cars, schools, school fraternities, institutions, clubs, and industrial lunchrooms. Includes meals and beverages consumed both on-and off-premise.
2. Includes luggage.
3. Consists of watch, clock, and jewelry repairs, costume and dress suit rental, and miscellaneous personal services.
4. Consists of rent for space and for heating and plumbing facilities, water heaters, lighting fixtures, kitchen cabinets, linoleum, storm windows and doors, window screens, and screen doors, but excludes rent for appliances and
furniture and purchases of fuel and electricity.
5. Consists of space rent (see footnote 4) and rent for appliances, furnishings, and furniture.
6. Consists of transient hotels, motels, clubs, schools, and other group housing.
7. Consists of refrigerators and freezers, cooking ranges, dishwashers, laundry equipment, stoves, room air conditioners, sewing machines, vacuum cleaners, and other appliances.
8. Includes such house furnishings as floor coverings, comforters, quilts, blankets, pillows, picture frames, mirrors,
art products, portable lamps, and clocks. Also includes writing equipment and hand, power, and garden tools.
9. Consists largely of textile house furnishings, including piece goods allocated to house furnishing use. Also
includes lamp shades, brooms, and brushes.
10. Consists of maintenance services for appliances and house furnishings, moving and warehouse expenses,
postage and express charges, premiums for fire and theft insurance on personal property less benefits and dividends, and miscellaneous household operation services.
11. Excludes drug preparations and related products dispensed by physicians, hospitals, and other medical services.
12. Consists of osteopathic physicians, chiropractors, private duty nurses, chiropodists, podiatrists, and others providing health and allied services, not elsewhere classified.
13. Consists of (1) current expenditures (including consumption of fixed capital) of nonprofit hospitals and nursing
homes, and (2) payments by patients to proprietary and government hospitals and nursing homes.
14. Consists of (1) premiums, less benefits and dividends, for health, hospitalization, and accidental death and
dismemberment insurance provided by commercial insurance carriers, and (2) administrative expenses (including consumption of fixed capital) of Blue Cross and Blue Shield plans and of other independent prepaid and self-insured
health plans.
15. Consists of premiums, less benefits and dividends, for income loss insurance.
16. Consists of premiums, less benefits and dividends, for privately administered workers' compensation.
17. Consists of (1) operating expenses of life insurance carriers and private noninsured pension plans, and (2)
premiums, less benefits and dividends, of fraternal benefit societies. Excludes expenses allocated by commercial
carriers to accident and health insurance.
18. Consists of current expenditures (including consumption of fixed capital) of trade unions and professional associations, employment agency fees, money order fees, spending for classified advertisements, tax return preparation
services, and other personal business services.
19. Consists of premiums, less benefits and dividends, for motor vehicle insurance.
20. Consists of baggage charges, coastal and inland waterway fares, travel agents' fees, and airport bus fares.
21. Consists of admissions to professional and amateur athletic events and to racetracks.
Billions of chained
(1992) dollars
Billions of dollars
Billions of chained
(1992) dollars
Personal business
Brokerage charges and investment counseling (s.)
Bank service charges, trust services, and safe deposit
box rental (s.)
Services furnished without payment by financial
intermediaries except life Insurance carriers and private
noninsured pension plans (s.)
Expense of handling life insurance 17 (s.)
Legal services (s )
Funeral and burial expenses (s.)
Other 18 (s.)
Transportation
User-operated transportation
New autos (d.)
Net purchases of used autos (d.)
Other motor vehicles (d)
Tires, tubes, accessories, and other parts (d.)
Repair, greasing, washing, parking, storage, rental, and
leasing (s.)
Gasoline and oil (n.d.)
Bridge, tunnel,
ferry, and road tolls (s.)
Insurance 19 (s.)
Purchased local transportation
Mass transit systems (s.)
Taxicab (s.)
Purchased intercity transportation
Railway (s.)
Bus (s.)
Airline (s.)
Other* (s.)
Recreation
Books and maps (d.) . ...
Magazines, newspapers, and sheet music (n.d.)
Nondurable toys and sport supplies (n.d.)
Wheel goods, sports and photographic equipment, boats,
and pleasure aircraft (d )
Video and audio products, computing equipment, and
musical instruments (d.)
Radio and television repair (s.)
Flowers, seeds, and potted plants (n.d.)
Admissions to specified spectator amusements 19.0 20.2
22.1 17.8 18.2 18.9 Motion picture theaters (s.)
Legitimate theaters and opera, and entertainments of
nonprofit institutions (except athletics) (s.)
Spectator sports21 (s)
Clubs and fraternal organizations 22 (s.)
Commercial participant amusements23 (s)
Pari-mutuel net receipts (s.)
Other 24 (s)
Education and research
Higher education25 (s.)
Nursery, elementary, and secondary schools26 (s.)
Other ^ (s.)
Religious and welfare activities28 (s.)
Foreign travel and other, net
Foreign travel by U. S. residents (s.)
Expenditures abroad by U. S. residents (n.d.)
Less: Expenditures in the United States by nonresidents
(5)
Less: Personal remittances in kind to nonresidents (n.d.)
Residual
1994
1995
1996
1994
1995
1996
370.4
389.1
421.1
352.1
350.7
363.6
36.2
38.8
47.2
37.8
41.8
50.0
31.6
33.9
37.3
27.5
27.8
28.9
151.5
159.8
169.9
146.5
141.9
143.9
72.6
48.8
11.1
18.5
75.4
49.1
12.2
19.9
79.9
52.2
12.8
21.8
68.1
45.3
10.1
17.1
67.9
44.0
10.5
17.6
68.5
45.2
10.4
18.7
542.2
502.6
572.3
530.1
602.2
557.7
515.3
476.6
528.0
487.8
540.3
497.7
91.2
44.1
76.8
34.5
87.1
52.4
79.4
35.8
86.1
55.3
82.1
37.9
86.2
37.5
71.4
35.1
80.6
40.8
71.7
36.2
78.2
42.1
72.5
38.3
116.4
109.4
2.6
128.7
114.4
2.8
140.1
122.6
2.9
108.5
109.8
2.4
116.5
113.1
2.4
123.3
114.1
27.5
29.4
30.9
25.6
26.0
8.9
5.9
3.0
30.7
.7
1.1
25.8
9.2
6.0
3.2
33.0
.8
1.3
27.7
10.1
6.6
3.5
34.4
.8
1.3
28.2
8.6
5.7
2.9
30.1
.7
1.1
25.5
8.5
5.5
3.0
31.7
.7
1.4
26.8
.2.5
26.2
8.5
5.6
3.0
34.2
.7
1.4
28.8
3.2
3.3
4.0
2.8
2.8
3.3
370.2
402.5
431.1
365.2
395.7
424.4
20.6
24.5
39.7
22.1
25.5
42.2
23.2
26.5
45.4
19.6
22.9
38.9
20.6
22.9
41.4
20.8
22.7
43.9
35.6
39.1
42.0
34.8
37.7
40.3
78.5
85.2
89.7
87.4
101.8
4.5
119.5
4.5
13.2
14.4
4.5
13.4
4.9
13.9
5.1
14.9
4.2
13.4
5.6
6.0
6.3
5.2
5.4
8.2
5.2
8.7
5.5
9.3
6.4
7.7
4.9
7.9
5.0
11.8
36.2
3.3
12.7
41.5
3.3
13.0
46.2
3.5
11.2
34.1
3.1
11.5
38.0
3.1
5.4
8.0
5.5
11.8
41.1
3.1
83.1
91.9
99.6
79.1
85.5
89.3
104.7
112.2
119.6
62.2
22.8
27.2
65.2
24.0
30.3
96.8
53.1
20.4
23.4
99.4
53.7
20.8
25.0
102.7
59.0
21.4
24.4
54.0
21.7
27.2
131.2
139.8
150.5
125.6
128.6
136.6
-18.3
-22.1
-26.5
-16.2
-19.5
-21.5
50.1
51.9
54.9
48.8
48.9
50.8
2.7
69.7
1.4
2.6
75.2
1.4
2.6
82.7
1.2
2.8
66.4
1.3
-5.7
2.4
69.5
1.3
-10.6
2.4
73.5
1.1
-17.8
22. Consists of dues and fees excluding insurance premiums.
23. Consists of billiard parlors; bowling alleys; dancing, riding, shooting, skating, and swimming places; amusement
devices and parks; golf courses; sightseeing buses and guides; private flying operations; casino gambling; and other
commercial participant amusements.
24. Consists of net receipts of lotteries and expenditures for purchases of pets and pet care services, cable
TV, film processing, photographic studios, sporting and recreation camps, video cassette rentals, and recreational
services, not elsewhere classified.
25. For private institutions, equals current expenditures (including consumption of fixed capital) less receiptssuch as those from meals, rooms, and entertainments—accounted for separately in consumer expenditures, and
less expenditures for research and development financed under contracts or grants. For government institutions,
equals student payments of tuition.
26. For private institutions, equals current expenditures (including consumption of fixed capital) less receiptssuch as those from meals, rooms, and entertainments—accounted for separately in consumer expenditures. For government institutions, equals student payments of tuition. Excludes child day care services, which are included in
religious and welfare activities.
27. Consists of (1) fees paid to commercial, business, trade, and correspondence schools and for educational
services, not elsewhere classified, and (2) current expenditures (including consumption of fixed capital) by research
organizations and foundations for education and research.
28. For nonprofit institutions, equals current expenditures (including consumption of fixed capital) of religious, social welfare, foreign relief, and political organizations, museums, libraries, and foundations. The expenditures are
net of receipts—such as those from meals, rooms, and entertainments—accounted for separately in consumer expenditures, and excludes relief payments within the United States and expenditures by foundations for education
and research. For proprietary and government institutions, equals receipts from users.
NOTES.—Consumer durable goods are designated (d.), nondurable goods (n.d.), and services (s.).
Estimates of foreign travel by U. S. residents (line 108) expenditures were $0.3 billion in 1981. Beginning with
1984, estimates of foreign travel by U. S. residents include substantially improved estimates of U. S. residents'
foreign travel and passenger fare expenditures. Estimates of expenditures in the United States by nonresidents (line
110) include, beginning with 1981, nonresidents' student and medical care expenditures in the United States. Student
expenditures were $2.2 billion, and medical expenditures were $0.4 billion in 1981. Beginning with 1984, estimates
of expenditures in the United States by nonresidents include substantially improved estimates of nonresidents' travel
expenditures. Expenditures in the United States by nonresidents are subtracted from total personal consumption expenditures (line 110) because they are included in detailed type of expenditure estimates elsewhere in personal
consumption expenditures.
Chained (1992) dollar series are calculated as the product of the chain-type quantity index and the 1992 currentdollar 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.
D-30 ® National Data
SURVEY OF CURRENT BUSINESS
Table B.5.—Private Purchases of Structures by Type
Billions of dollars
Private purchases of structures
Nonresidentiai
New
Nonresidentiai buildings, excluding farm
Industrial
Commercial
Office 2buildings l
Other
Religious
Educational
,
..
Hospital and institutional
Other3
Utilities
Railroads
Telecommunications
Electric light and power
Gas
Petroleum pipelines
Farm
Mining exploration, shafts, and wells .....
Petroleum and natural gas
Other
Other4
Brokers' commissions on sale of
structures
Net purchases of used structures
Residential
New
New housing units
Permanent site
Single-family structures
Multifamily structures
Mobile homes
Improvements
Other5
Brokers' commissions on sale of
structures
Net purchases of used structures
Residual
Table B.6.—Private Purchases of Producers' Durable Equipment by Type
Billions of dollars
Billions of chained
(1992) dollars
1994
1995
1996
1994
1995
1996
463.6
478.4
517.0
432.8
430.0
453J
184.5
200.6
215.2
172.5
179.9
188.7
1994
184.3
200.2
214.7
172.2
179.5
188.2
125.5
140.8
156.1
116.9
126.1
136.7
28.9
61.9
25.8
36.1
32.5
70.8
29.8
41.0
32.1
77.6
32.1
45.5
27.0
57.7
24.1
33.6
29.1
63.4
26.7
36.7
28.1
68.0
28.2
39.8
3.8
5.6
4.2
6.2
4.4
7.5
3.5
5.2
3.8
5.6
3.9
6.6
13.7
11.6
12.5
14.5
13.4
21.1
12.7
10.8
11.2
13.0
11.7
18.5
32.0
33.2
33.3
29.9
30.0
29.3
3.3
10.1
13.0
4.6
1.0
3.2
16.7
14.7
1.9
6.9
1.5
3.5
11.0
12.3
5.5
.9
3.0
16.3
14.8
1.5
6.9
1.6
4.6
11.9
11.0
4.7
1.0
3.7
16.1
14.8
1.3
5.7
1.8
3.0
9.6
12.1
4.2
.9
3.0
15.8
14.0
1.8
6.6
1.4
3.1
10.1
11.0
5.0
.8
2.7
14.3
13.0
1.3
6.3
1.5
3.9
10.4
9.8
4.2
.9
3.2
13.9
12.7
1.1
5.0
1.6
-1.2
-1.3
-1.3
-1.2
-1.1
-1.2
279.1
277.8
301.7
260.3
250.0
265.0
248.5
246.9
267.0
230.8
220.8
233.6
177.2
167.9
153.8
174.4
163.1
145.2
192.1
179.4
159.1
162.0
153.7
140.1
153.1
143.5
126.9
165.2
154.8
136.6
14.1
17.9
11.3
72.0
20.3
12.6
74.4
13.6
16.9
18.6
10.3
67.7
9.3
71.0
.3
31.6
-1.0
.5
32.1
-1.1
.6
36.3
-1.6
8.3
68.4
.3
30.4
-.9
.3
9.5
67.3
.4
30.3
-1.0
-.1
.5
32.7
-1.4
.3
1. Consists of office buildings, except those constructed at industrial sites and those constructed by utilities for
their own use.
2. Consists of stores, restaurants, garages, service stations, warehouses, mobile structures, and other buildings
used for commercial purposes.
3. Consists of hotels and motels, buildings used primarily for social and recreational activities, and buildings not
elsewhere classified, such as passenger terminals, greenhouses, and animal hospitals.
4. Consists primarily of streets, dams and reservoirs, sewer and water facilities, parks, and airfields.
5. Consists primarily of dormitories, fraternity and sorority houses, and nurses' homes.
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.
January 1998
Billions of chained
(1992) dollars
1995
1996
1994
483.0
529.6
573.7
483.5 535.2 593.1
476.1
522.4
566.2
476.8 528.3 586.0
Information processing and related equipment
Office, computing, and accounting machinery
Computers and peripheral equipment *
Other
Communication equipment
Instruments
Photocopy and related equipment
152.1
172.8
195.1
165.1
59.3
51.8
73.5
65.6
88.1
78.7
73.9
67.2
52.8
22.1
17.9
59.4
22.4
17.6
65.9
23.4
17.7
53.7
21.2
17.3
Industrial equipment „.
Fabricated metal products
Engines and turbines .
...
Metalworking machinery
Special industry machinery, n.e.c
General industrial, including materials handling,
equipment
.
Electrical transmission, distribution, and
industrial apparatus
109.3
121.5
127.5
105.5
10.5
11.1
11.7
10.4
Transportation and related equipment
Trucks buses and truck trailers
Autos
Aircraft
Ships and boats
Railroad equipment
Private purchases of producers' durable
equipment
Nonresidentiai equipment
Other equipment
Furniture and fixtures
Tractors
Agricultural machinery, except tractors
Construction machinery, except tractors
Mining and oilfield machinery
Service industry machinery
Electrical equipment, n.e c
Other
Less: Sale of equipment scrap, excluding autos
Residential equipment
7.5
4.8
7.9
4.2
9.3
4.0
1996
201.8 253.1
108.1 164.2
102.8 160.8
9.0
7.5
7.3
4.6
62.0
21.2
16.6
69.9
21.8
16.4
113.4 117.0
10.6
4.0
11.0
3.7
24.4
26.9
28.2
31.2
29.6
32.8
23.3
25.9
26.0
29.0
26.6
29.9
23.6
25.8
28.5
22.6
24.0
26.0
19.0
20.9
20.9
18.6
19.8
19.7
118.6
125.7
134.5
113.2
118.9
125.0
55.0
48.0
63.3
42.3
12.8
68.9
45.3
13.4
50.6
47.8
56.7
43.4
11.6
61.3
45.1
11.8
8.9
1.5
5.1
99.9
25.6
9.9
9.7
12.0
1.5
13.4
10.7
16.9
1.5
5.7
1.6
5.3
106.9
113.7
28.1
10.4
10.4
13.5
30.2
10.9
10.9
14.4
1.8
14.4
10.8
17.5
2.3
15.2
11.1
18.6
8.4
1.5
4.9
96.0
24.5
9.5
9.2
11.4
1.5
13.0
10.6
16.3
1.4
5.2
1.4
4.6
100.3
104.6
26.2
27.4
10.2
9.8
9.6
12.4
1.7
13.5
10.4
16.5
9.9
13.0
' 2.1
14.0
10.8
17.2
3.7
4.5
4.6
3.1
3.4
3.8
6.9
7.2
7.5
6.7
7.0
7,1
Residual
Addenda:
Private purchases of producers' durable
equipment
Less: Dealers' margin on used equipment
Net purchases of used equipment from
government
Plus1 Net sales of used equipment
Net exports of used equipment
Sale of equipment scrap
Eauals: Private purchases of new eauioment
1995
-1.4
483.0
4.9
1.0
529.6
5.3
1.1
-10.3 -33.8
573.7
5.8
1.2
31.3
37.6
39.7
1.5
3.8
513.7
.6
4.6
566.0
.7
4.6
611.8
1. Includes new computers and peripheral equipment only.
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.
n.e.c. Not elsewhere classified.
SURVEY OF CURRENT BUSINESS
January 1998
National Data « D-31
Table BJ.—Compensation and Wage and Salary Accruals by Industry
[Millions of dollars]
Total
1995
Compensation
Wage and salary .accruals
Compensation
1994
1996
1994
1995
Domestic industries
Private industries
4,014,482 4,217,968 4,429,472 3,256,510 3,445,117 3,636,201
.
3,213,814 3,392,629
3,574,191 2,654,320 2,822,137 2,993,607
Agriculture, forestry, and fishing
Farms
. ....
Agricultural services, forestry, and
fishing
34,780
14,477
37,011
15,588
39,619
16,385
20,303
21,423
23,234
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
32,656
2,791
6,375
19,069
4,421
32,892
3,145
6,174
18,929
4,644
33,678
3,358
5,974
19,539
4,807
182,016
193,746
209,279
792,034
486,844
23,018
14,927
21,564
36,102
56,398
95,407
816,853
505,167
23,802
15,443
22,129
37,261
58,594
100,891
72,726
61,771
47,367
44,806
Manufactured
r>
LI
0
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
industrial machinery and equipment ...
Electronic and other electric
equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing
industries
Nondurable goods
Food and kindred products
Tobacco products
Textile mill products
Apparel and other textile products
Printino and publishinq
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics
products
Leather and leather products
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger
transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines, except natural gas
Transportation services
31,915
13,309
34,476
14,163
17,527
18,606
20,313
26,378
2,187
4,993
15,606
3,592
26,843
2,518
4,884
15,628
3,813
27,644
2,707
4,739
16,240
3,958
147,425
157,684
172,234
839,754
521,750
24,832
15,754
22,920
37,888
60,161
105,182
625,496
379,616
18,495
11,986
17,054
26,841
44,496
76,720
651,750
398,272
19,401
12,584
17,706
27,990
46,794
82,191
675,067
416,061
20,459
12,964
18,548
28,866
48,553
86,528
77,181
65,047
46,243
45,579
80,895
65,911
47,105
47,745
58,302
42,384
36,861
35,960
62,681
44,886
36,172
37,013
66,179
46,377
37,186
39,158
12,758
305,190
59,381
2,768
19,274
21,352
32,236
58,652
63,653
10,769
12,997
311,686
61,042
2,949
18,956
20,996
32,936
60,387
65,393
10,834
13,357
318,004
62,422
3,014
18,744
20,379
33,661
62,308
67,538
10,738
10,517
245,880
47,614
2,062
15,840
17,442
26,230
48,193
50,743
7,796
10,854
253,478
49,527
2,215
15,697
17,322
27,058
50,087
52,582
7,837
11,243
259,006
50,746
2,268
15,544
16,816
27,672
51,718
54,411
7,791
34,133
2,972
35,322
2,871
36,478
2,722
27,527
2,433
28,784
2,369
29,803
2,237
265,575
144,649
15,346
276,517
150,664
15,313
287,023
156,924
15,525
211,840
113,626
11,249
221,770
119,110
11,271
231,072
124,815
11,422
8,911
63,763
7,757
34,424
1,126
13,322
9,374
66,914
7,843
35,714
1,051
14,455
10,101
60,838
7,895
46,492
1,007
15,066
7,292
49,750
6,238
27,189
929
10,979
7,731
52,594
6,323
28,339
869
11,983
8,381
47,040
6,429
38,220
829
12,494
29,852
12,325
1. Consists of museums, botanical, zoological gardens; engineering and management services; and services, not
elsewhere classified.
?99f includes estimates of foreign professional workers and undocumented Mexican migratory
1995
1996
1994
1995
1996
67,070
51,679
15,391
53,856
71,112
53,701
17,411
54,741
75,153
56,202
18,951
54,946
55,320
42,517
12,803
42,894
58,933
44,315
14,618
43,727
62,279
46,361
15,918
43,978
Wholesale trade
259,828
276,202
289,438
217,964
234,467
246,452
Retail trade
365,722
383,120
399,951
313,776
329,936
345,994
Finance, insurance, and real estate ....
Depository institutions
Nondepository institutions
Security and commodity brokers
Insurance carriers
Insurance agents, brokers, and
service
Real estate
Holding and other investment offices
310,211
77,101
21,474
53,798
70,378
324,894
80,243
21,677
59,450
72,737
350,180
83,793
25,089
68,973
75,871
260,045
62,949
18,087
46,857
58,148
273,124
65,664
18,317
51,967
60,125
296,112
69,013
21,223
60,688
63,079
29,514
41,284
16,662
31,008
42,182
17,597
32,828
44,906
18,720
25,039
34,567
14,398
26,384
35,442
15,225
28,031
37,910
16,168
Services
Hotels and other lodging places
Personal services
Business services
Auto repair, services, and parking
Miscellaneous repair services
Motion pictures
Amusement and recreation services ...
Health services
970,992 1,051,394 1,125,269
37,676
34,231
35,886
24,609
22,439
23,495
221,473
168,265
193,888
25,924
30,388
27,830
10,222
11,247
12,103
16,837
18,956
14,426
31,264
37,235
34,526
325,041
359,179
344,680
60,452
56,886
58,333
54,601
49,079
51,755
821,544
894,648
30,557
28,966
20,405
19,383
142,292
165,300
23,824
22,053
8,709
9,650
12,224
14,399
26,179
29,150
271,678 i 289,564
48,407
49,761
41,294
43,697
964,556
32,322
21,518
190,526
26,212
10,455
16,289
31,764
303,790
51,905
46,503
Communications
Telephone and telegraph
Radio and television
Electric, gas, and sanitary services
4,012,002 4,215,434 4,426,912 3,254,030 3,442,583 3,633,641
Wage and salary accruals
1994
1996
Educational services
Social services and membership
organizations
Social services
Membership organizations
Other services '
Private households
Government
Federal
General government
Civilian 2
Military
Government enterprises
State and local
General government
Education
Other
Government enterprises
Rest of the world
Receipts from the rest of the world
Less: Payments to the rest of the world3
Addenda:
Households and institutions
Nonfarm business
86,121
42,375
43,746
136,059
11,035
91,565
45,862
45,703
149,531
11,821
95,877
48,350
47,527
161,263
11,457
73,364
35,109
38,255
116,205
10,790
78,346
38,282
40,064
128,432
11,563
82,749
40,766
41,983
139,316
11,207
800,668
258,006
208,312
123,976
84,336
49,694
542,662
506,154
265,457
240,697
36,508
825,339
258,051
207,288
123,427
83,861
50,763
567,288
529,188
279,024
250,164
38,100 ;
855,281
264,853
212,849
125,174
87,675
52,004
590,428
551,031
292,665
258,366
39,397
602,190
173,413
139,744
84,864
54,880
33,669
428,777
399,489
207,472
192,017
29,288
, 622,980
175,045
140,708
84,540
56,168
34,337
447,935
417,381
217,962
199,419
30,554
642,594
177,228
142,038
85,541
56,497
35,190
465,366
433,845
228,252
205,593
31,521
-2,480
1,239
3,719
-2,534
1,323
3,857
-2,560
1,338
-2,480
1,239
3,719
-2,534
1,323
3,857
-2,560
1,338
3,898
312,741
331,760
2,972,798 3,134,144
346,034
3,303,173
OQQfl
0,0«70
workers employed temporarily in the United States,
NoiE.-Estimates in this table are based on the 1987 Standard Industrial Classification (SIC).
in
SffiW^
'° "** ** ^ "SUPP'ementS"
D-32 • National Data
SURVEY OF CURRENT BUSINESS
January 1998
Table B.8.—Employment by Industry
[Thousands]
Full-time and part-time
employment
1994
Total
1995
Persons engaged
in
production!
1994
1996
Full-time and part-time
employment
124,602
126,992
118,560
121,370
123,666
Domestic industries
122,258
125,171
127,543
119,042
121,858
124,151
Private industries
100,326
103,195
105,596
100,750
103,531
105,947
1,936
840
1,096
2,004
868
1,136
2,069
860
1,209
3,148
1,791
1,357
3,199
1,810
1,389
3,300
1,818
1,482
606
49
113
339
105
587
52
106
321
108
583
54
99
321
109
607
49
110
345
103
590
52
103
327
108
586
54
97
327
108
Agriculture, forestry, and fishing
Farms
Agricultural services, forestry, and fishing
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
Construction
5,197
5,383
5,669
6,406
6,654
6,954
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, day, and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries
Nondurable goods
Food and kindred products
Tobacco products
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics
products
Leather and leather products
18,428
10,507
776
505
535
697
1,396
2,000
1,582
900
852
860
404
7,921
1,683
43
681
982
693
1,566
1,056
147
18,592
10,722
790
512
542
708
1,443
2,069
1,626
969
817
841
405
7,870
1,688
42
664
946
692
1,570
1,039
143
18,574
10,834
801
506
547
709
1,452
2,115
1,658
967
820
855
404
7,740
1,697
42
629
874
682
1,565
1,032
139
18,445
10,584
835
515
544
693
1,390
1,996
1,573
895
850
853
440
7,861
1,654
43
676
998
686
1,551
1,039
18,613
10,802
857
525
550
701
1,441
2,083
1,616
952
816
834
427
7,811
1,659
42
661
952
686
1,560
1,032
142
18,577
10,911
858
521
558
707
1,446
2,100
1,653
960
819
850
439
7,666
1,664
42
631
881
677
1,536
1,024
138
954
116
978
108
981
99
951
118
967
110
971
102
Transportation and public utilities .
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural oas
6,060
3,834
233
407
1,843
179
750
17
6,175
3,962
232
420
1,916
178
778
15
6,292
4,063
224
440
1,658
177
1,119
14
6,045
3,922
220
437
1,977
175
704
17
6,176
4,048
220
431
2,054
178
731
15
6,318
4,182
212
444
1,854
174
1,050
14
145.
1. Equals the number of full-time equivalent employees (table 6.5) plus the number of self-employed persons
(table 6.7). Unpaid family workers are not included.
2. Consists of museums, botanical, zoological gardens; engineering and management services; and services, not
elsewhere classified.
1994
1996
1995
121,695
Transportation services
Communications
Telephone and telegraph
Radio and television
Electric, gas, and sanitary services
Wholesale trade
1995
423
1,307
915
392
906
1996
431
1,347
936
411
882
1994
392
1,192
844
348
931
1995
419
1,219
851
368
909
1996
434
1,258
873
385
878
6,235
6,475
6,558
6,324
6,559
6,589
21,159
21,867
22,256
18,897
19,476
19,866
7,021
2,068
488
543
1,522
723
1,422
255
6,926
2,023
463
554
1,497
732
1,410
247
7,051
2,018
513
582
1,503
746
1,441
248
7,251
1,973
485
592
1,468
853
1,635
245
7,216
1,937
466
622
1,449
856
1,648
238
7,315
1,923
506
648
1,447
873
1,680
238
33,684
1,712
1,276
6,352
1,075
350
458
1,421
9,318
1,059
2,024
35,186
1,754
1,300
6,935
1,132
374
506
1,519
9,568
1,056
2,075
36,544
1,791
1,317
7,484
1,205
389
553
1,593
9,809
1,063
2,141
33,627
1,549
1,725
6,538
1,338
568
498
1,264
8,677
1,184
1,860
35,048
1,587
1,776
7,109
1,362
591
543
1,327
8,903
1,173
1,915
36,442
1,625
1,805
7,664
1,480
573
583
1,420
9,168
1,147
1,986
Social services
Membership organizations
Other services5
Private households
4,478
2,328
2,150
2,877
1,284
4,637
2,454
2,183
3,049
1,281
4,760
2,534
2,226
3,193
1,246
4,351
2,563
1,788
3,254
821
4,504
2,689
1,815
3,439
819
4,623
2,772
1,851
3,572
796
Government
Federal
General government ....
Civilian 3
Military
Government enterprises
State and local
General government ....
Education
Other
Government enterprises
21,932
5,720
4,748
2,100
2,648
972
16^12
15,295
8,220
7,075
917
21,976
5,560
4,573
2,026
2,547
987
16,416
15,485
8,389
7,096
931
21,947
5,357
4,366
1,952
2,414
991
16,590
15,655
8,542
7,113
935
18,292
4,661
3,867
2,052
1,815
794
13,631
12,754
6,635
6,119
877
18,327
4,530
3,725
1,984
1,741
805
13,797
12,910
6,770
6,140
887
18,204
4,368
3,562
1,912
1,650
806
13,836
12,945
6,791
6,154
891
-482
-488
-485
Retail trade
j
405
1,293
916
377
933
Persons engaged
in
production a
Finance, Insurance, and real estate
Depository institutions
Nondepository institutions
Security and commodity brokers
Insurance carriers
Insurance agents, brokers, and service
Real estate
Holding and other investment offices
Services
Hotels and other lodging places
Personal services
Business services
Auto repair, services, and parking
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
Legal services
Educational services
Social services and membership
Rest of the world4
-563
-569
-551
3. Includes Coast Guard.
4. Beginning with 1993, includes estimates of foreign professional workers and undocumented Mexican migratory
workers employed temporarily in the United States.
NOTE.-Estimates in this table are based on the 1987 Standard Industrial Classification (SIC).
National Data « D-33
SURVEY OF CURRENT BUSINESS
January 1998
Table B.9.—Wage and Salary Accruals Per Full-Time Equivalent Employee and Full-Time Equivalent Employees by Industry
Dollars
Thousands
Dollars
Thousands
Wages and salaries per
full-time equivalent
Full-time equivalent
employees
Wages and salaries per
full-time equivalent
Full-time equivalent
employees
1994
1994
1995
1996
30,131
31,032
32,121
107,996
110,935
113,125
Domestic industries
30,020
30,919
32,006
108,478
111,423
113,610
Private Industries
Total1
29,432
30,314
31,378
90,186
93,096
95,406
Agriculture, forestry, and fishing
Farms
Agricultural services, forestry, and fishing
17,833
17,118
18,372
18,331
17,888
18,662
18,870
18,709
18,984
1,674
720
954
1,741
744
997
1,827
757
1,070
Mining
Metal mining
Coal mining
Oil and gas extraction
Nonmetallic minerals, except fuels
44,482
44,633
45,391
47,006
35,216
46,683
48,423
47,417
49,613
36,314
48,329
50,130
48,856
51,556
37,340
593
49
110
332
102
575
52
103
315
105
572
54
97
315
106
Construction
30,191
30,453
31,649
4,883
5,178
5,442
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Industrial machinery and equipment
Electronic and other electric equipment . ...
Motor vehicles and equipment
Other transportation equipment
Instruments and related products
Miscellaneous manufacturing industries . ...
Nondurable goods
Food and kindred products
Tobacco products
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and miscellaneous plastics
products
Leather and leather products
34,725
36,724
24,400
24,312
32,299
38,788
32,455
39,063
37,277
47,516
43,674
42,506
27,317
32,032
29,157
47,953
23,642
18,169
38,292
33,259
48,932
53,766
35,852
37,751
25,131
25,068
33,345
40,100
32,954
40,093
39,005
47,248
44,712
44,810
28,192
33,226
30,163
52,738
24,002
18,828
39,558
34,543
51,200
55,190
37,165
39,030
26,162
26,085
34,799
41,003
34,072
41,761
40,279
48,410
45,683
46,451
28,902
34,516
30,681
54,000
24,950
19,877
40,935
35,791
53,344
56,457
18,013
10,337
758
493
528
692
1,371
1,964
1,564
892
844
846
385
7,676
1,633
43
670
960
685
1,449
1,037
145
18,179
10,550
772
502
531
698
1,420
2,050
1,607
950
809
826
385
7,629
1,642
42
654
920
684
1,450
1,027
142
18,164
10,660
782
497
533
704
1,425
2,072
1,643
958
814
843
389
7,504
1,654
42
623
846
676
1,445
1,020
138
29,253
21,531
29,921
22,349
30,884
23,547
941
113
962
106
965
95
Transportation and public utilities
Transportation
Railroad transportation
Local and interurban passenger transit
Trucking and warehousing
Water transportation
Transportation by air
Pipelines except natural gas
37,401
31,882
51,132
19,655
28,924
37,353
38,953
54,647
38,369
32,279
51,232
20,133
29,366
37,862
39,088
57,933
39,276
32,994
53,877
20,848
30,348
38,729
36,644
59,214
5,664
3,564
220
371
1,720
167
698
17
5,780
3,690
220
384
1,791
167
725
15
5,883
3,783
212
402
1,550
166
1,043
14
1. Full-time equivalent employees equals the number of employees on full-time schedules plus the number of
employees on part-time schedules converted to a full-time basis. The number of full-time equivalent employees in
each industry is the product of the total number of employees and the ratio of average weekly hours per employee
for all employees to average weekly hours per employee on full-time schedules.
2. Consists of museums, botanical, zoological gardens; engineering and management services; and services, not
1994
1995
1996
29,593
46,802
50,736
37,218
46,725
30,884
49,316
52,945
40,832
48,857
31,551
50,716
54,287
42,561
50,433
Wholesale trade
36,504
37,817
39,256
5,971
6,200
6,278
Retail trade
18,130
18,300
18,821
17,307
18,029
18,383
Finance, insurance, and real estate
Depository institutions
Nondepository institutions
Security and commodity brokers
Insurance carriers
Insurance agents, brokers, and services
Real estate
Holding and other investment offices
39,282
31,921
38,647
89,937
39,610
36,447
27,456
58,767
41,698
33,935
41,070
97,499
41,494
37,854
28,308
63,971
44,629
35,926
43,224
108,760
43,593
39,648
29,780
67,933
6,620
1,972
468
521
1,468
687
1,259
245
6,550
1,935
446
533
1,449
697
1,252
238
6,635
1,921
491
558
1,447
707
1,273
Services
Hotels and other lodging places
Personal services
Business services
Auto repair, services, and parking
Miscellaneous repair services
Motion pictures
Amusement and recreation services
Health services
Legal services
Educational services
Social services and membership
organizations
Social services
Membership organizations
Other services2
Private households
27,886
19,585
17,337
24,554
21,943
27,216
34,434
22,904
32,780
51,497
23,637
28,987
20,117
17,915
25,942
22,454
28,134
36,639
23,680
: 34,098
53,107
24,263
29,935
20,733
18,518
27,713
23,074
29,204
37,706
24,509
34,624
54,984
24,895
29,461
1,479
1,118
5,795
1,005
320
355
1,143
8,288
940
1,747
30,864
1,519
1,139
6,372
1,061
343
393
1,231
8,492
937
1,801
32,222
1,559
1,162
6,875
1,136
358
432
1,296
8,774
944
1,868
19,266
17,381
21,395
43,984
13,143
19,834
17,931
22,074
45,754
14,118
20,346
18,396
22,681
47,146
14,079
3,808
2,020
1,788
2,642
821
3,950
2,135
1,815
2,807
819
4,067
2,216
1,851
2,955
796
32,921
37,205
36,138
41,357
30,237
42,404
31,456
31,323
31,269
31,380
33,396
33,992
38,641
37,774
42,611
32,262
42,655
32,466
32,330
32,195
32,479
34,446
35,300
40,574
39,876
44,739
34,241
43,660
33,634
33,514
33,611
33,408
35,377
18,292
4,661
3,867
2,052
1,815
794
13,631
i 12,754
6,635
6,119
877
18,327
4,530
3,725
1,984
1,741
805
13,797
"12,910
6,770
6,140
887
18,204
4,368
3,562
1,912
1,650
806
13,836
12,945
6,791
6,154
891
1996
1995
Transportation services
Communications
Telephone and telegraph
Radio and television ....
Electric, gas, and sanitary services
Federal
General government ....
Civilian 3
Military
Government enterprises
State and local
General government ....
Education
Other
Government enterprises
Rest of the world4
1994
371
1,182
838
344
918
-482
1995
388
1,195
837
358
895
-488
1996
396
1,228
854
374
872
'238
-485
elsewhere classified,
3. Includes Coast Guard,
4. Beginning with 1993, includes estimates of foreign professional workers and undocumented Mexican migratory
workers employed temporarily in the United States.
NOTE.—Estimates in this table are based on the 1987 Standard Industrial Classification (SIC).
D-34 * National Data
SURVEY OF CURRENT BUSINESS
Table B, 10.—Farm Sector Output, Gross Product, and National Income
Billions of dollars
Farm output
Cash receipts from farm marketings
Crops
Livestock
Farm housing
Farm products consumed on farms
Other farm income
Change in farm inventories
Crops
Livestock
Less: intermediate goods and services
purchased
Intermediate goods and services, other
than rent
Rent paid to nonoperator landlords
1995
1996
202.9
197.9
219.9
1994
199.4
1996
192.0
193.1
1
180.9
92.8
88.1
5.8
.5
4.9
10.8
9.7
1.1
193.9
106.9
204.2
111.4
87.0
92.9
5.9
.5
5.6
-7.9
-8.2
.2
6.1
.4
6.3
2.9
4.1
-1.3
178.2
188.5
179.0
88.4
89.9
96.9
91.3
88.9
90.5
5.2
.5
4.8
11.7
9.2
1.2
5.2
.5
5.2
-9.2
-7.7
.3
5.1
.4
5.3
2.6
3.0
-1.5
124.4
130.6
114.7
117.6
117.3
105.3
110.0
113.7
100.7
103.4
101.2
14.1
14.3
16.8
14.0
14.2
16.2
Equals: Gross farm product
83.5
73.5
89.4
85.0
74.2
75.5
Less' Consumption of fixed capital
23.7
24.7
25.6
22.4
22.8
23.2
Less: Indirect business tax and nontax
liability
Plus" Subsidies to operators .
Equals: Farm national income
Compensation of employees
Wage and salary accruals
Supplements to wages and salaries
Proprietors' income and corporate
profits with IVA and CCAdj
Proprietors' income
Corporate profits
Net interest
59.8
4.8
66
61.5
14.6
12.3
2.2
37.8
36.9
.9
9.1
48.8
5.1
6.1
49.7
15.7
13.3
2.4
24.7
23.4
1.2
9.4
63.8
62.9
51.3
52.2
5.1
61
64.9
16.5
14.2
Housing output
Nonfarm housing
Owner-occupied
Tenant-occupied
Farm housina
. . . .
Less: Intermediate goods and services
consumed
1994
1995
1996
1994
1995
686.7
722.7
758.1
649.9
663.4
675.2
680.9
507.0
174.0
5.8
716.8
532.2
184.6
5.9
752.0
558.3
193.6
6.1
644.8
479.6
165.2
5.2
658.3
487.2
171.1
5.2
670.2
495.3
174.9
5.1
1996
87.6
88.5
94.1
83.1
82.1
85.3
Equals; Gross housing product „
Nonfarm housing
Owner-occupied
Tenant-occupied
Farm housina
599.1
594.4
439.5
155.0
4.7
634.2
629.2
462.8
166.4
5.0
664.0
658.8
484.0
174.9
5.1
566.8
562.7
415.6
147.1
4.2
581.3
577.0
423.1
153.9
4.3
589.9
585.7
428.3
157.5
4.2
Less: Consumption of fixed capital
Capital consumption allowances
Less: CCAdj
120.5
114.8
118.2
112.2
103.6
104.6
60.9
59.6
62.8
-59.6
-55.1
-55.4
Equals: Net housing product ...
478.6
519.4
545.8
454.5
477.8
485.5
Less: Indirect business tax and nontax
liability plus business transfer payments ...
112.9
116.2
119.5
P/us: Subsidies less current surplus of
government enterprises
Equals: Housing national income
Compensation of employees
Proprietors' income with IVA and CCAdj ...
Rental income of persons with CCAdj
Corporate profits with IVA and CCAdj
Net interest
2.3
38.6
37.2
1.4
9.8
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.
CCAdj Capital consumption adjustment
IVA Inventory valuation adjustment
Billions of chained
(1992) dollars
Billions of dollars
1995
119.4
Equals'. Net farm product
Table B. 11.—Housing Sector Output, Gross Product, and National
Income
Billions of chained
(1992) dollars
1994
January 1998
20.6
20.8
22.6
386.4
424.0
448.9
7.7
17.6
96.7
4.2
260.2
8.1
8.5
25.2
27.1
104.3
5.1
281.3
115.8
5.6
292.0
1. Equals personal consumption expenditures for housing less expenditures for other housing as shown in table
B.4.
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.
CCAdj Capital consumption adjustment
IVA Inventory valuation adjustment
January 1998
National Data •
SURVEY OF CURRENT BUSINESS
D-35
Table B.12.-Nef Stock of Fixed Private Capital, by Type
Current-cost valuation (billions of dollars)
1991
Fixed private capital
Private producers" durable equipment
Nonresidential equipment
Information processing and related equipment
Office computing and accounting machinery
Computers and peripheral equipment
Other office equipment
Communication equipment
Instruments
Photocoov and related eauioment
Industrial equipment
Fabricated metal products
Engines and turbines
...................
.........
Steam engines
Internal combustion engines
Metalworking machinery
........
Special industry machinery, n.e.c
General industrial, including materials handling, equipment
Electrical transmission, distribution, and industrial apparatus
Transportation and related equipment
Trucks, buses and truck trailers
Autos
Aircraft
Ships and boats
Railroad equipment
Other equipment
.
Furniture and fixtures
Household furniture
Other furniture
Tractors
Farm tractors
Construction tractors
Agricultural machinery, except tractors
Construction machinery except tractors
Mining and oilfield machinery
Service industry machinery
Electrical equipment, n.e.c
Household appliances
Other
Other nonresidential equipment
Residential equipment
Private structures
Nonresidential structures
Nonresidential buildings, excluding farm
Industrial buildings
Office buildings1
Commercial buildings
Mobile structures
Other commercial 2
Religious buildings
Educational buildings
Hospital and institutional buildings
Hotels and motels
Amusement and recreational
buildings
Other nonfarm buildings3
Utilities
Railroad
Telecommunications
Electric light and power
Gas
Petroleum Dioelines ...
Farm related buildings and structures
Mining exploration shafts and wells ....
Petroleum and natural gas
Other mining
Other nonfarm structures4
Residential structures
Housing units
Permanent site
1-to-4-unit
...
5-or-more-unit
Mobile homes
Improvements
Other residential 5
1992
1995
Chain-type quantity ndexes (1992=100)
1991
1996
1992
1993
1994
1995
1996
109.58
12,955.2
13,484.1
14,198.8
15,064.5
15,738.6
16,503.4
98.49
100.00
101.94
104.15
106.67
2,570.3
2,642.7
2,742.1
2,881.7
3,050.3
3,232.9
98.37
100.00
102.74
106.62
111.68
117.63
2,519.5
2,590.0
2,686.7
2,823.1
2,989.3
3,168.9
98.39
100.00
102.72
106.61
111JO
117.69
603.2
119.0
629.0
120.7
101.0
650.4
128.3
107.9
673.8
138.5
118.0
704.0
151.2
130.4
785.4
175.7
153.9
94.86
87.31
85.14
99.35
97.21
95.09
97.52
100.00
100.00
100.00
100.00
100.00
100.00
100.00
106.40
120.18
124.20
101.27
102.41
105.34
104.27
113.96
144.51
154.49
101.08
106.50
109.32
109.02
125.25
189.31
211.49
101.82
112.84
112.73
112.00
140.31
264.83
308.42
108.04
120.39
116.19
113.98
99.38
100.79
97.84
97.48
101.47
100.38
99.14
100.53
97.65
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
101.38
100.07
102.12
102.13
102.06
100.48
101.85
100.70
102.57
103.55
100.95
104.56
104.33
106.76
102.74
104.03
102.25
105.65
106.34
101.72
105.58
104.68
114.34
106.16
107.46
104.37
109.13
108.92
102.72
105.86
104.57
118.43
109.54
109.64
107.35
112.29
98.93
98.99
97.44
97.17
103.69
101.16
100.00
100.00
100.00
100.00
100.00
100.00
102.30
105.33
100.93
102.25
98.25
99.65
106.91
115.39
109.20
100.57
95.33
100.79
111.87
127.18
113.03
101.80
92.42
102.22
116.89
139.25
117.20
103.08
89.79
102.81
102.1
100.42
96.81
100.22
96.59
102.77
102.43
103.99
103.85
104.46
110.04
103.27
94.43
99.31
93.87
98.81
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
101.19
103.04
100.43
103.21
99.71
100.28
97.68
98.79
99.09
93.67
99.38
104.87
101.98
105.20
103.18
103.29
105.84
101.74
106.12
101.34
102.61
96.85
99.07
100.51
87.79
103.02
107.43
104.43
107.77
106.40
106.07
110.10
103.22
110.55
103.25
105.11
96.65
99.89
103.15
83.85
107.46
109.26
107.35
109.47
109.34
109.92
115.18
105.88
115.79
105.60
107.84
97.69
101.40
106.11
78.91
117.36
111.42
110.74
111.49
112.59
64.1
99.5
19.5
318.9
101.4
19.7
20.4
20.6
20.9
21.8
330.8
109.9
333.0
117.9
335.3
124.1
342.7
130.6
391.5
136.2
64.0
67.5
71.2
898.3
916.8
945.7
87.7
50.8
46.0
86.7
51.8
47.1
4.8
167.1
193.4
185.7
213.6
75.8
79.4
991.4
1,050.3
87.0
53.2
48.2
90.3
56.8
51.5
93.5
58.4
52.5
95.7
59.7
53.5
4.7
168.8
199.4
189.0
221.0
5.0
174.4
207.5
194.9
228.7
5.4
183.0
218.2
202.5
240.5
5.9
197.0
232.1
212.5
256.7
6.3
205.8
240.0
220.8
261.6
491.2
160.6
102.5
114.4
510.0
169.1
107.6
121.2
538.9
185.5
111.7
127.1
581.2
210.1
124.6
129.2
627.2
236.8
131.1
136.2
660.5
259.6
138.0
140.3
45.5
68.2
45.1
67.1
45.6
69.0
44.7
72.7
44.3
78.8
44.4
78.3
526.8
140.0
9.0
131.0
534.2
146.1
9.1
137.0
551.8
153.8
9.4
144.4
576.6
163.0
9.7
153.3
607.7
175.0
639.4
186.2
10.1
10.5
164.9
175.7
54.1
42.3
11.8
65.4
66.7
16.7
61.0
41.5
54.1
42.4
11.7
64.9
66.0
15.3
60.3
44.6
55.1
43.2
11.9
65.6
66.8
14.6
61.0
47.2
57.2
45.1
12.1
67.1
69.6
14.0
64.5
48.9
59.1
46.8
12.3
69.9
73.2
13.8
69.2
50.3
60.9
48.2
12.7
72.2
77.1
13.3
76.7
50.9
4.5
37.0
81.2
4.7
4.6
40.1
83.0
42.5
87.7
4.9
44.0
92.4
5.1
45.2
97.2
82.0
1,083.6
5.2
45.7
97.03
100.00
103.36
107.18
111.01
114.80
10,384,9
10,841.4
11,456.7
12,182.8
12,688.3
13,270.4
98.52
100.00
101.75
103.57
105.50
107.74
4,177.2
4,302.7
4,528.9
4,775.6
4,970.8
5,163.3
98.92
100.00
101.16
102.20
103.61
105.43
2,593.9
589.7
611.2
653.7
6.4
647.4
119.7
102.6
246.2
270.8
135.6
2,686.1
613.0
625.4
678.7
6.6
672.1
123.5
108.0
259.8
277.6
139.2
2,834.9
636.2
670.1
717.2
7.2
710.1
129.4
114.7
276.7
290.6
145.9
3,011.3
673.6
707.8
765.0
7.9
757.1
136.6
123.5
297.9
307.0
153.7
3,144.1
700.7
736.5
803.8
8.3
795.5
141.4
130.2
311.6
319.9
161.0
3,299.0
725.9
767.1
855.8
8.7
847.1
146.2
138.0
325.6
340.5
173.3
98.44
98.36
98.72
98.46
98.26
98.47
99.10
97.05
96.87
99.67
99.51
98.63
101.07
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
101.38
100.17
101.51
101.96
101.54
101.97
101.10
102.47
102.72
100.79
101.03
101.25
99.84
102.97
101.44
102.54
103.93
103.27
103.94
102.06
105.40
105.71
101.88
101.79
103.20
100.73
105.02
103.03
104.24
106.63
105.36
106.64
103.23
108.64
108.08
103.76
104.25
106.83
99.60
107.92
104.54
106.37
111.20
107.95
111.24
104.47
112.77
110.59
108.01
109.82
111.45
100.81
99.44
100.93
98.21
99.61
97.56
100.12
100.00
100.00
100.00
100.00
100.00
100.00
100.59
99.08
101.66
100.86
101.42
100.18
100.76
98.22
103.71
100.77
101.99
100.25
101.29
97.42
106.33
101.20
102.88
100.00
101.73
96.92
109.22
101.28
103.23
99.92
100.00
100.00
100.00
100.00
100.00
102.10
99.14
98.97
100.48
104.32
101.29
98.31
97.82
101.99
107.95
100.48
97.36
96.76
101.92
111.30
99.14
95.89
95.21
101.14
113.37
50.8
67.8
67.4
1,032.3
266.7
181.1
410.9
136.8
55.4
52.6
70.2
68.2
1,062.0
272.4
185.3
423.8
143.1
73.7
71.0
1,120.2
290.1
194.0
443.4
153.0
58.6
78.6
74.7
1,159.7
294.0
204.8
459.6
160.0
61.0
83.2
75.7
1,199.7
300.3
218.3
476.5
163.1
88.7
78.5
1,236.4
311.1
229.9
481.8
170.4
36.8
37.5
39.6
41.2
41.5
43.2
182.0
263.8
234.7
183.5
259.0
229.3
194.3
260.1
229.2
201.6
274.5
241.6
204.6
283.7
250.0
206.1
278.5
244.5
29.0
29.7
31.0
32.9
33.7
34.1
105.2
112.1
119.4
128.4
138.7
143.3
101.36
101.90
102.17
99.81
94.60
6,207.7
6,538.7
6,927.8
7,407.2
7,717.5
8,107.1
98.25
100.00
102.14
104.47
106.75
109.25
5,057.2
4,959.6
4,226.4
733.2
5,327.0
5,226.1
4,465.3
760.7
100.9
1,185.1
5,667.3
5,557.9
4,796.1
761.9
109.4
1,232.6
6,078.4
5,956.2
5,182.3
773.8
122.2
1,299.8
6,322.4
6,190.1
5,398.5
791.5
132.3
1,365.8
6,639.3
6,497.7
5,662.9
834.8
141.5
1,438.0
98.37
98.36
98.09
99.97
99.10
97.64
100.98
100.00
100.00
100.00
100.00
100.00
100.00
100.00
102.00
102.00
102.37
99.78
102.02
102.83
99.67
104.20
104.17
105.01
99.05
105.56
105.87
98.53
106.43
106.36
107.45
99.64
110.07
108.42
97.95
108.99
108.86
110.22
100.47
115.21
110.75
97.69
97.6
1,124.7
25.9
26.6
1. Consists of office buildings, except those occupied by electric and gas utility companies.
2. Consists primarily of stores, restaurants, garages, service stations, warehouses, and other buildings used for
commercial purposes.
3. Consists of buildings not elsewhere classified, such as passenger terminals, greenhouses, and animal hospitals.
4. Consists primarily of streets, dams, reservoirs, sewer and water facilities, parks, and airfields.
5. Consists primarily of dormitories, fraternity and sorority houses, and nurses' homes.
1994
1993
27.8
29.0
29.3
n.e.c. Not elsewhere classified.
29.9
D-36 • National Data
SURVEY OF CURRENT BUSINESS
January 1998
G Historical Tables.
The tables in this section are derived from the "Summary National Income and Product Series" tables that were
published in the August 1997 issue of the SURVEY OF CURRENT BUSINESS. (Changes in prices are calculated from
indexes expressed to three decimal places.)
Table C.1.—Historical Measures of Real Gross Domestic Product, Real Gross National Product, and Real Gross Domestic Purchases
Percent change from preceding
period
Billions of chained (1992) dollars
Year and
quarter
Chain-type price indexes
Implicit price deflators
Percent change from preceding period
Chain-type price index
Gross domestic
product
Final sales of
domestic
product
Gross national
product
1959
2,210.2
2,206.9
2,222.0
1960
1961
1962
1963
1964
2,262.9
2,314.3
2,454.8
2,559.4
2,708.4
2,264.2
2,318.0
2,445.4
2,552.4
2,705.1
2,276.0
2,329.1
2,471.5
2,577.3
2,727.8
1965
1966
1967
1968
1969
2,881.1
3,069.2
3,147.2
3,293.9
3,393.6
2,860.4
3,033.5
3,125.1
3,278.0
3,377.2
1970
1971
1972
1973
1974
3,397.6
3,510.0
3,702.3
3,916.3
3,891.2
1975
1976
1977
1978
1979
Implicit price deflators
sales of Gross domestic Gross domestic Gross domestic Gross national
Gross domestic Final
product
domestic
product
purchases
product
Gross domestic Gross domestic Gross domestic Gross national
product
product
product
product
product
purchases
7.4
2.4
6.5
22.95
22.44
22.95
22.96
1.0
1.0
1.0
1.0
2.3
6.1
4.3
5.8
2.6
2.4
5.5
4.4
6.0
2327
23.54
23.84
22.75
23.00
2328
23.58
23.94
23.27
23.54
23.84
23.28
23.55
23.85
24.12
24.48
24.13
24.49
1.4
1.2
1.3
1.2
1.5
1.4
1.1
1.2
1.3
1.6
1.4
12
1.3
1.2
1.5
1.4
12
1.3
12
1.5
2,901.4
3,087.8
3,166.4
3,314.5
3,413.3
6.4
6.5
2.5
4.7
3.0
5.7
6.1
3.0
4.9
3.0
24.95
25.66
26.48
27.64
28.94
24.39
25.07
25.83
26.95
24.96
25.67
26.49
27.64
28.94
24.97
25.68
26.50
27.66
28.96
1.9
2.8
3.2
4.4
4.7
1.9
2.8
3.0
4.3
4.7
2.0
2.8
32
4.4
4.7
2.0
2.8
32
4.4
4.7
3,406.5
3,499.8
3,689.5
3,883.9
3,873.4
3,417.1
3,532.1
3,726.3
3,950.1
3,930.2
.1
3.3
5.5
5.8
-.6
.9
2.7
5.4
5.3
-.3
30.48
32.05
33.42
35.30
38.46
29.73
31.32
32.71
34.64
38.17
30.48
32.06
33.42
35.30
38.47
30.50
32.08
33.44
35.32
38.49
5.3
5.2
42
5.6
8.9
5.4
5.3
4.5
5.9
102
5.3
5.2
42
5.6
9.0
5.3
52
42
5.6
8.9
3,873.9
4,082.9
4,273.6
4,503.0
4,630.6
3,906.4
4,061.7
4,240.8
4,464.4
4,614.4
3,903.3
4,118.8
4,314.5
4,543.7
4,687.4
-.4
5.4
4.7
5.4
2.8
.9
4.0
4.4
5.3
3.4
42.09
44.55
47.42
50.88
5522
41.72
44.15
47.18
50.65
55.22
42.09
44.55
47.43
50.89
55.23
42.11
44.58
47.46
50.92
5526
9.4
5.8
6.5
7.3
8.5
9.3
5.8
6.9
7.4
9.0
9.4
5.8
6.5
7.3
8.5
9.4
5.9
6.5
7.3
8.5
1980
1981
1982
1983
1984
4,615.0
4,720.7
4,620.3
4,803.7
5,140.1
4,641.9
4,691.6
4,651.2
4,821.2
5,061.6
4,670.8
4,769.9
4,662.0
4,844.8
5,178.0
-.3
2.3
60.34
61.10
66.72
70.64
73.31
75.90
60.33
60.36
66.05
4.0
7.0
.6
1.1
-.9
3.7
5.0
9.3
9.4
6.3
4.3
3.8
92
5.9
3.8
3.5
92
9.4
6.3
4.3
3.8
92
9.4
6.3
4.3
3.8
1985
1986
1987
1988
1989
5,323.5
5,487.7
5,649.5
5,865.2
6,062.0
5,296.9
5,480.9
5,626.0
5,855.1
6,028.7
5,346.7
5,501.2
5,658.2
5,878.5
6,075.7
3.6
3.1
2.9
3.8
3.4
4.6
3.5
2.6
4.1
3.0
78.53
80.58
83.06
78.34
80.40
78.53
80.58
83.06
86.09
89.72
78.57
80.62
83.09
86.10
89.72
83.11
86.13
89.78
86.12
89.75
3.4
2.6
3.1
3.7
42
32
2.6
3.4
3.6
42
3.4
2.6
3.1
3.7
42
3.4
2.6
3.1
3.7
4.2
1990
1991
1992
1993
1994
6,136.3
6,079.4
6,244.4
6,389.6
6,610.7
6,126.7
6,082.6
6,237.4
6,368.9
6,551.2
6,157.0
6,094.9
6,255.5
6,408.0
6,619.1
1.2
-.9
2.7
2.3
3.5
1.6
-.7
2.5
2.1
2.9
93.64
97.32
100.00
102.64
105.09
93.83
97.30
100.00
102.48
104.85
93.60
97.32
100.00
102.64
105.09
93.63
97.33
100.00
102.63
105.08
4.4
3.9
2.8
2.6
2.4
4.5
3.7
2.8
2.5
2.3
4.3
4.0
2.8
2.6
2.4
4.3
4.0
2.7
2.6
2.4
1995
1996
6,742.1
6,928.4
6,712.7
6,901.0
6,748.7
6,932.0
2.0
2.8
2.5
2.8
107.76
107.52
109.86
107.76
110.21
107.73
110.18
2.5
2.3
2.5
22
2.5
2.3
2.5
2.3
1959: 1
II
Ill
IV
2,165.0
2,223.3
2,221.4
2,231.0
2,165.5
2,2045
2,232.6
2,225.3
2,176.2
2,234.5
2,233.5
2,243.9
8.6
112
-.3
1.7
92
7.3
5.3
22.86
22.92
22.96
23.05
22.35
22.92
22.93
22.41
22.45
22.53
22.91
22.94
23.03
22.91
22.95
23.04
.8
1.1
.7
1.5
1.1
1.1
.7
1.5
.8
-.3
.6
1.6
.8
-.3
.6
1.6
1960: 1
II
HI
IV
2,279.2
2,265.5
2,268.3
2,238.6
2,248.5
2,268.4
2,265.1
2,274.7
2,291.6
2,278.2
2281.6
2,252.7
8.9
23.10
22.57
22.69
22.80
22.92
23.13
23.22
23.32
23.40
23.14
2323
23.33
23.41
.9
2.0
2.0
2.1
.8
2.1
2.0
2.1
1.8
1.5
1.7
1.4
1.9
1.5
1.7
1.4
1961: |
II
HI
IV
2,251.7
2,292.0
2,332.6
2,381.0
2,277.7
2,301.1
2,320.4
2,372.8
2,266.8
2,306.3
2,347.1
2,395.9
2.4
7.4
73
8.6
.5
42
3.4
9.3
23.48
22.96
22.97
23.45
1962: 1
II
HI
IV
2,422.6
2,448.0
2,471.9
2,476.7
2,400.3
2,440.7
2,462.0
2,478.7
2,437.4
2,464.4
2,488.4
2,495.9
72
42
.8
4.7
6.9
3.5
2.7
23.73
23.80
23.86
23.96
1963: 1
II
HI
IV
2,508.7
2,538.1
2,586.3
2,604.6
2,492.4
2,533.8
2,578.0
2,605.3
2,526.9
2,555.5
2,604.0
2,622.9
5.3
4.8
7.8
2.9
2.2
6.8
7.2
4.3
24.03
24.07
1964: 1
II
HI
IV
2,666.7
2,697.5
2,729.6
2,739.7
2,663.1
2,695.0
2,727.6
2,734.5
2,686.8
2,716.8
2,749.5
2,758.1
9.9
4.7
4.8
1.5
9.2
4.9
4.9
1.0
24.33
1965- 1
II
HI
IV
2,808.9
2,846.3
2,898.8
2,970.5
2,7772
2,826.7
2,879.8
2,957.8
2,830.0
2,868.2
2,918.9
2,988.6
10.5
6.4
7.3
7.7
24.76
24.88
1966: 1
II
Ill
IV
3,042.4
3,055.5
3,076.5
3,102.4
3,008.8
3,023.1
3,0472
3,054.8
3,061.1
3,074.2
3,094.7
3,121.4
10.0
1967: 1
II
Ill
IV
3,127.2
3,129.5
3,154.2
3,178.0
3,085.6
3,119.0
3,1342
3,161.5
3,145.9
3,147.7
3,174.4
3,197.5
-2.1
-2.4
.5
-5.1
4*.0
5.4
7.6
10.3
-1.3
42
3.6
-.6
1.7
11.3
24.12
24.48
66.01
70.18
73.16
75.92
11022
2321
23.32
23.44
23.51
23.55
23.61
24.11
2426
24.41
24.53
24.64
25.01
25.16
2821
66.01
70.17
73.16
75.92
70.21
7320
75.97
10.7
23.01
23.06
23.51
23.56
23.63
23.46
23.52
23.57
23.64
.7
.5
.7
1.1
.6
2
.7
.9
.9
1.0
.8
12
.9
1.0
.8
12
23.17
23.75
23.76
2324
23.81
23.87
23.94
23.81
23.87
23.95
2.0
1.1
1.1
1.7
1.9
1.4
1.1
1.8
2.0
1.0
1.0
12
2.0
1.0
1.0
12
24.00
24.07
24.01
24.08
24.13
24.30
1.2
.6
j
2.4
1 !:
Id
c
2!5
1.1
1.1
.8
3.0
1.1
1.1
.8
3.0
24.36
24.42
24.53
24.65
1.2
1.3
1.9
1.8
1.C
i!s
1.6
.9
.9
1.8
2.1
.9
.9
1.8
2.1
24.78
24.89
25.02
2.0
2.0
2.1
2.5
1.6
2.0
22
2.8
2.0
1.9
2.1
2.6
2.0
1.9
2.1
2.6
23.31
23.41
23.48
23.53
23.58
23.72
24.12
2429
23.80
23.89
23.99
24.09
24.35
24.19
24.31
24.44
24.61
24.77
24.88
25.32
25.53
25.79
26.02
25.34
25.54
25.81
26.03
22
32
5!l
3.4
1.9
32
4.8
3.1
2.5
32
4.2
3.5
2.5
3.3
42
3.5
26.14
26.31
26.60
26.90
26.15
26.32
26.61
26.91
2.0
2.5
3.9
4.6
1.6
2.5
3.9
4.5
1.1
2.5
4.5
4.6
2.0
2.5
4.5
4.6
1.7
2.8
3.4
7.1
1.9
32
1.0
25.30
25.50
25.82
26.03
24.73
24.93
25.22
32
I
32
3.1
4.1
4.4
2.0
3.5
26.16
26.32
26.57
26.87
25.52
25.67
25.92
25.41
26.21
24.41
24.52
24.64
25.01
25.17
25.18
•j'jj
January 1998
National Data • D-37
SURVEY OF CURRENT BUSINESS
Table C.1.—Historical Measures of Real Gross Domestic Product, Real Gross National Product, and Real Gross Domestic Purchases—Continued
[Quarterly data are seasonally adjusted at annual rates]
Percent change from preceding
period
Billions of chained (1992) dollars
Year and
quarter
Chain-type price indexes
Percent change from preceding period
Implicit price deflators
Chain-type price index
Implicit price deflators
sales of Gross national
sales of Gross domestic Gross domestic Gross domestic Gross national
Gross domestic Final
Gross domestic Final
domestic
product
product
domestic
product
purchases
product
product
Gross
domestic
Gross
domestic
Gross
domestic Gross national
product
product
product
product
purchases
product
product
1968: 1
II
HI
IV
3^36.2
3^92.1
3,316.1
3,331.2
3,225.3
3,258.0
3,303.9
3,325.1
3,256.2
3,312.5
3,337.3
3,352.2
7.5
7.1
3.0
1.8
8.3
4.1
5.8
2.6
27.19
27.50
27.75
28.12
26.52
26.80
27.06
27.43
27.21
27.49
27.75
28.12
27.22
27.50
27.76
28.13
4.8
4.5
3.7
5.5
4.9
4.2
4.0
5.5
4.7
4.1
3.8
5.5
4.8
4.1
3.8
5.5
1969: 1
II
Ill
IV
3,381.9
3,390.2
3,409.7
3,392.6
3,357.5
3,373.0
3,389.6
3,388.9
3,402.8
3,410.3
3,428.5
3,411.4
6.2
1.0
2.3
-2.0
4.0
1.9
2.0
-.1
28.38
28.74
29.14
29.51
27.66
28.02
28.40
28.77
28.39
28.73
29.14
29.51
28.40
28.75
29.16
29.52
3.7
55
5.7
5.2
3.5
5.3
5.6
5.2
3.8
5.0
5.8
5.1
3.9
5.0
5.8
5.1
1970: 1
II
HI
IV
3,386.5
3,391.6
3,423.0
3,389.4
3,397.6
3,391.9
3,421.9
3,414.8
3,406.0
3,411.9
3,442.9
3,407.4
-.7
.6
3.7
-3.9
1.0
-.7
3.6
-.8
29.92
30.36
30.60
31.02
29.18
29.59
29.87
30.29
29.94
30.36
30.61
31.02
29.95
30.37
30.63
31.03
5.7
6.0
35
5.6
5.9
5.8
3.8
5.7
6.0
5.7
3.4
5.4
6.0
5.7
3.4
5.4
1971: 1
IV
3,481.4
3,500.9
3,523.8
3,533.8
3,458.9
3,4815
3,509.4
3,549.5
3,503.3
3,524.3
3,544.7
3,556.0
11.3
2.3
2.6
1.1
5.3
2.6
3.3
4.7
31.50
31.93
3255
32.53
30.75
31.18
31.52
31.81
31.50
31.93
3257
32.54
31.52
31.94
3259
32.55
6.3
5.7
4.1
3.5
6.2
5.7
4.5
3.7
6.4
5.5
4.4
3.3
6.4
5.5
4.4
3.3
1972- 1
II
HI
IV
3,604.7
3,687.9
3,726.2
3,790.4
3,608.0
3,665.7
3,700.0
3,784.3
3,627.9
3,710.7
3,751.2
3,815.3
8.3
9.6
4.2
7.1
6.8
6.5
3.8
9.4
33.01
33.23
33.50
33.93
3258
32.53
32.82
33.23
33.02
33.20
33.49
33.95
33.03
33.22
33.51
33.97
6.0
2.6
3.3
55
6.0
3.1
3.6
5.1
6.0
2.2
3.5
5.6
6.1
25
3.5
5.6
1973: |
II
Ill
IV
3,892.2
3,919.0
3,907.1
3,947.1
3,867.0
3,884.5
3,890.9
3,893.1
3,921.5
3,950.4
3,944.1
3,984.4
115
2.8
-1.2
4.2
9.0
1.8
.7
5
34.38
34.96
35.63
3654
33.69
34.33
34.95
35.60
34.36
34.94
35.61
36.29
34.38
34.96
35.63
36.31
5.5
6.9
7.8
7.0
5.6
7.8
7.5
7.6
5.0
6.9
7.9
7.8
5.0
6.9
7.9
7.8
1974: 1
||
Ill
IV
3,908.1
3,922.6
3,880.0
3,854.1
3,889.1
3,899.7
3,882.5
3,822.2
3,952.4
3,964.3
3,917.6
3,886.1
-3.9
1.5
-4.3
-2.6
-.4
1.1
-1.8
-6.1
36.98
37.79
38.93
40.14
36.55
37.59
38.71
39.84
37.01
37.79
38.96
40.13
37.03
37.81
38.98
40.15
8.4
9.0
12.7
13.0
11.1
11.9
12.5
12.2
8.2
8.7
12.9
12.6
85
8.7
12.9
12.5
1975- 1 .
II
Ill
IV
3,800.9
3,835.2
3,907.0
3,952.5
3,848.3
3,887.9
3,922.7
3,966.7
3,827.3
3,861.8
3,936.1
3,987.9
-5.4
3.7
7.7
4.7
2.8
45
3.6
4.6
41.04
41.67
42.44
4351
40.69
41.34
42.05
42.79
41.05
41.66
42.41
43.19
41.07
41.68
42.44
43.22
95
6.3
7.6
7.4
8.8
6.5
7.0
7.2
9.5
6.1
7.4
7.6
9.5
6.1
7.4
7.6
1976: 1
II
Ill
IV
4,044.6
4,072.2
4,088.5
4,126.4
4,027.0
4,039.1
4,061.7
4,119.0
4,078.8
4,107.9
4,124.8
4,163.7
9.7
2.8
1.6
3.8
6.2
1.2
2.3
5.8
43.68
44.17
44.78
45.56
43.26
43.76
44.42
45.16
43.69
44.15
44.77
45.57
43.72
44.18
44.80
45.60
4.4
4.6
5.7
7.2
4.5
4.7
6.1
6.9
4.7
4.2
5.7
7.3
1977: |
4,176.3
4,260.1
4,329.5
4,328.3
4,161.4
4,228.4
4,270.0
4,303.3
4,219.4
4,3025
4,371.2
4,365.0
4.9
8.3
6.7
-.1
4.2
6.6
4.0
3.2
46.31
47.08
47.74
48.55
45.99
46.81
47.55
48.36
46.32
47.07
47.66
48.63
46.34
47.10
47.69
48.66
6.7
6.8
5.7
7.0
7.6
7.3
6.4
7.1
6.8
6.6
5.1
8.4
4.7
4.2
5.7
7.3
6.7
6.7
5.1
8.4
IV
4,345.5
4,510.7
4,552.1
4,603.7
4,306.0
4,474.6
4,511.6
4,565.4
4,388.6
4,546.1
4,591.1
4,649.0
1.6
16.1
3.7
4.6
.3
16.6
3.4
4.9
49.39
50.43
51.32
52.37
49.19
50.22
51.11
52.08
49.42
50.41
5157
52.35
49.45
50.44
51.30
52.39
7.1
8.6
7.3
8.4
7.0
8.6
7.3
7.9
6.7
8.2
7.0
8.7
6.7
8.2
7.1
8.7
1979: |
II
HI
IV
4,605.7
4,615.6
4,644.9
4,656.2
4,579.0
4,577.0
4,6395
4,662.5
4,652.6
4,668.7
4,708.8
4,719.5
5
.9
2.6
1.0
1.2
-5
5.5
2.0
53.46
54.70
55.82
56.92
53.21
54.52
55.89
57.25
53.51
54.65
55.82
56.92
53.54
54.68
55.85
56.95
8.6
9.6
8.5
8.1
9.0
10.2
10.4
10.2
9.1
8.8
8.9
8.1
9.1
8.8
8.9
8.1
1980: 1
II
Ill
IV
4,679.0
4,566.6
4,562.3
4,651.9
4,743.0
4,625.6
4,617.8
4,696.6
2.0
-9.3
-.4
8.1
1.1
-6.0
55
3.4
58.25
59.59
60.93
62.57
58.89
60.41
61.77
63.33
58.18
59.55
61.01
62.59
58.22
59.58
61.05
62.64
9.7
9.6
9.3
11.2
12.0
10.7
9.3
10.5
9.2
9.7
10.2
10.8
9.2
9.7
10.2
10.8
1981: 1
||
|||
IV
4,739.2
4,696.8
4,753.0
4,693.8
4,787.7
4,742.6
4,801.4
4,747.9
7.7
-3.5
4.9
-4.9
64.96
66.15
6757
68.48
64.15
65.37
66.65
67.87
64.20
65.42
66.69
67.91
10.7
7.4
8.2
7.4
10.7
7.5
7.0
7.3
10.3
7.8
8.0
7.5
10.4
7.8
8.0
7.5
IV
4,615.9
4,634.9
4,612.1
4,618.3
4,658.5
4,682.9
4,651.1
4,655.6
-6.5
1.7
-2.0
.5
1.4
.5
.3
-2.6
-1.4
-.4
-2.9
5.7
64.19
65.35
66.65
67.85
1982: 1
||
4,675.3
4,579.0
4,637.1
4,676.1
4,692.9
4,699.0
4,702.5
4,672.0
4,655.4
4,6515
4,616.9
4,681.3
68.85
69.71
70.69
71.46
69.42
70.17
71.10
71.85
68.86
69.72
70.66
71.44
68.91
69.77
70.70
71.47
6.0
5.1
5.7
4.5
5.6
4.4
5.4
4.3
6.0
5.1
5.5
4.4
6.0
5.1
5.5
4.4
1983: I
II
Ill
IV
4,663.0
4,763.6
4,849.0
4,939.2
4,719.4
4,785.3
4,860.7
4,919.5
4,700.1
4,804.4
4,891.3
4,983.5
3.9
8.9
7.4
7.7
3.3
5.7
6.4
4.9
72.12
72.84
73.50
74.19
72.33
73.03
73.65
74.24
72.08
72.83
73.48
74.19
72.12
72.87
73.52
74.24
2.7
3.9
3.4
3.2
3.7
45
3.7
3.9
3.7
45
3.7
3.9
1984: 1
||
HI
IV
5,053.6
5,132.9
5,170.3
5503.7
4,961.0
5,050.0
5,085.6
5,149.9
5,092.6
5,172.4
5,209.5
5,237.5
9.6
6.4
3.0
2.6
3.4
7.4
2.9
5.2
75.00
75.62
7655
76.82
75.04
75.65
76.19
76.71
75.02
75.58
76.25
76.81
75.06
75.63
76.29
76.85
3.7
4.1
3.7
3.8
4.4
3.3
3.4
3.0
4.4
3.3
2.9
2.7
4.5
3.1
3.5
3.0
4.5
3.1
3.6
2.9
1985; |
II
Ill
IV
5,257.3
5583.7
5,359.6
5,393.6
5,231.7
5,261.0
5,336.9
5,358.0
5,280.3
5,310.8
5,378.4
5,417.5
4.2
2.0
5.9
2.6
6.5
2.3
5.9
1.6
77.64
7855
78.80
79.44
77.38
78.02
78.58
79.37
77.63
78.25
78.76
79.45
77.67
78.29
78.80
79.49
4.3
3.2
2.8
3.3
3.6
3.3
2.9
4.1
4.4
3.3
2.6
3.5
4.3
3.2
2.6
3.5
1986: 1
||
Ill
IV
5,460.8
5,466.9
5,496.3
5,526.8
5,410.5
5,448.4
5,5185
5,546.6
5,481.1
5,480.1
5,510.4
5,533.1
5.1
.4
25
25
4.0
2.8
5.2
2.1
79.81
80.26
80.81
81.44
79.77
79.97
80.60
81.25
79.81
8052
80.84
81.45
79.85
80.26
80.88
81.49
1.9
2.2
2.8
3.2
2.0
1.0
3.2
3.3
1.8
2.1
3.1
3.1
1.8
2.1
3.1
3.0
1987: 1
II
5,561.8
5,618.0
5,667.4
5,750.6
5,535.8
5,608.4
5,671.5
5,688.3
5,568.7
5,628.7
5,676.0
5,759.6
2.6
4.1
3.6
6.0
-.8
5.4
4.6
1.2
82.11
82.68
83.35
84.08
82.07
82.74
83.44
84.19
82.09
82.68
83.33
84.09
82.12
82.71
83.36
84.12
3.3
2.8
3.3
3.6
4.1
3.3
3.4
3.6
35
2.9
3.2
3.7
3.2
2.9
3.2
3.7
1988: 1
II
Ill
IV
5,785.3
5,844.0
5,878.7
5,952.8
5,774.2
5,840.1
5,8695
5,937.0
5,802.3
5,857.5
5,889.4
5,964.9
2.4
4.1
2.4
5.1
6.2
4.6
2.0
4.7
84.69
85.56
86.67
87.46
84.81
85.68
86.58
87.44
84.67
85.56
86.66
87.44
84.69
85.59
86.69
87.47
2.9
4.2
5.3
3.7
3.0
45
4.3
4.0
2.7
4.3
5.2
3.7
2.8
4.3
5.2
3.7
II
in"!."!."..."
II
in .!."!!
iv
1978: 1
II
Ill
Ill
in'!!!!!!!!!!!!
iv
SURVEY OF CURRENT BUSINESS
D-38 • National Data
January 1998
Table C.1.—Historical Measures of Real Gross Domestic Product, Real Gross National Product, and Real Gross Domestic Purchases—Continued
[Quarterly data are seasonally adjusted at annual rates]
Billions of chained (1992) dollars
Year and
quarter
1989: |
II
Percent change from preceding
period
sales of Gross national
Gross domestic Final
domestic
product
product
product
IV
6,011.0
6,055.6
6,088.0
6,093.5
5,970.0
6,010.9
6,063.1
6,070.8
6,023.1
6,065.5
6,101.8
6,112.3
1990: 1
||
Ill
IV
6,152.6
6,171.6
6,142.1
6,079.0
6,144.6
6,127.5
6,126.6
6,108.1
6,172.8
6,188.0
6,155.7
6,111.3
1991: 1
II
Ill
IV
6,047.5
6,074.7
6,090.1
6,105.3
6,065.4
6,095.9
6,085.4
6,083.8
6,074.3
6,086.4
6,099.2
6,119.5
1992- I
||
Ill
IV
6,175.7
6,214.2
6,260.7
6,327.1
61758
6,203.8
6,249.5
6,320.7
1993: 1
6,327.9
6,359.9
6,393.5
6,476.9
1994: I
II
Ill
IV
1995: |
II
Ill
IV
in".."!!."!."
Chain-type price indexes
Percent change from preceding period
Implicit price deflators
Chain-type price index
Implicit price deflators
Gross domestic Gross domestic Gross domestic Gross national
product
product
product
Gross domestic Gross domestic Gross domestic Gross national
purchases
product
purchases
product
product
Gross domestic
product
Final sales of
domestic
product
4.0
3.0
2.2
.4
2.2
2.8
3.5
.5
88.44
89.40
90.13
90.91
88.47
89.52
90.14
90.98
88.45
89.39
90.13
90.88
88.48
89.42
90.16
90.91
4.5
4.4
3.3
3.5
4.8
4.8
2.8
3.8
4.7
4.3
3.3
3.4
4.7
4.3
3.3
3.4
5.0
92.01
93.20
94.19
95.14
92.17
93.14
94.32
95.68
92.00
93.18
94.14
95.11
92.04
93.21
94.17
95.13
4.9
5.2
4.3
4.1
5.4
4.2
5.2
5.9
5.0
5.2
4.2
4.2
5.1
5.2
4.2
4.2
96.29
97.01
97.71
98.32
4.8
3.2
2.8
2.5
3.1
2.2
2.6
2.9
5.0
3.1
2.9
2.5
4.9
3.1
2.9
2.5
3.9
1.2
-1.1
-.1
-1.9
-4.0
-1.2
-2.1
-2.8
1.8
1.0
1.0
2.0
-.7
-.1
9626
97.02
97.70
98.30
96.42
96.95
97.58
98.27
96.27
97.00
97.70
98.31
61920
6,225.2
6,270.3
6,334.6
4.7
2.5
3.0
4.3
62
1.8
3.0
4.6
9914
9904
99.76
100.28
100.92
9913
9913
99.81
100.17
100.88
99.79
100.17
100.88
99.79
100.17
100.88
3.4
2.8
1.4
2.8
3.2
2.9
2.1
2.6
34
2.7
1.5
2.9
34
2.7
1.5
2.9
6,297.3
6,344.9
6,379.3
6,453.8
6,351.3
6,375.9
6,415.3
6,489.7
.1
2.0
2.1
5.3
3.1
2.2
4.8
101.85
102.38
102.83
103.52
101.71
102.28
102.64
103.28
101.84
102.35
102.83
103.51
101.84
102.34
102.83
103.50
3.9
2.1
1.8
2.7
3.2
2.3
1.4
2.5
3.9
2.0
1.9
2.7
3.8
2.0
1.9
2.6
6,524.5
6,600.3
6,629.5
6,688.6
6,473.0
6,526.7
6,580.4
6,624.8
6,540.5
6,609.3
6,635.6
6,691.2
3.0
4.7
1.8
3.6
1.2
3.4
3.3
2.7
104.16
104.74
105.39
106.07
103.80
104.46
105.24
105.88
104.13
104.71
105.39
106.09
104.14
104.71
105.38
106.06
2.5
2.2
2.5
2.6
2.0
2.6
3.0
2.5
2.4
2.2
2.6
2.7
2.5
2.2
2.6
2.6
6,703.7
6,708.8
6,759.2
6,796.5
6,654.3
6,685.3
6,739.3
6,771.9
6,711.3
6,721.0
6,758.3
6,804.2
.9
.3
3.0
2.2
1.8
1.9
3.3
2.0
106.93
107.49
108.03
108.60
106.66
107.33
107.79
108.29
106.94
107.46
108.02
108.61
106.91
107.43
107.99
108.59
3.3
2.1
2.0
2.1
3.0
2.5
1.7
1.9
3.3
2.0
2.1
2.2
3.2
2.0
2.1
2.2
1996: 1
II
HI
IV
6,826.4
6,926.0
6,943.8
7,017.4
6,815.0
6,902.3
6,905.0
6,981.7
6,834.7
6,930.1
6,940.2
7,023.1
1.8
6.0
1.0
4.3
2.6
5.2
.2
4.5
109.35
109.86
110.59
111.10
109.01
109.50
110.15
110.79
109.39
109.84
110.54
111.05
109.37
109.82
110.50
111.01
2.8
1.9
2.7
1.9
2.7
1.8
2.4
2.4
2.9
1.7
2.6
1.9
2.9
1.6
2.5
1.8
1997: 1
II
Ill
7,101.6
7,159.6
7,214.0
7,034.1
7,077.7
7,160.3
7,091.8
7,144.4
7,198.8
4.9
3.3
3.1
3.0
2.5
4.7
111.78
112.27
112.67
111.32
111.55
111.90
111.71
112.22
112.62
111.67
112.17
112.57
2.4
1.8
1.4
1.9
.8
1.3
2.4
1.8
1.4
2.4
1.8
1.4
HI !!!!!.!!!!
IV
-1.5
National Data • D-39
SURVEY OF CURRENT BUSINESS
January 1998
Table C.2.—Real Gross Domestic Product
[Average annual percent change, based on chained (1992) dollar estimates]
Initial year
Terminal year
1970
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
1972
1971
2.8
2.8
2.8
2.8
2.8
2.8
3.0
3.1
3.1
3.0
3.0
3.0
3.0
2.7
2.6
3.0
3.1
3.5
3.6
3.3
3.1
2.7
3.4
4.8
4.4
3.3
1971
2.8
2.8
2.8
2.8
2.8
2.8
3.0
3.1
3.1
3.0
3.0
3.0
3.0
2.6
2.5
3.0
3.1
3.5
3.6
3.3
3.1
2.5
3.5
5.6
5.5
1972
2.6
2.6
2.7
2.6
2.6
2.6
2.8
2.9
2.9
2.9
2.9
2.8
2.8
2.4
2.2
2.7
2.8
3.2
3.3
2.9
2.5
1.5
2.5
5.8
1973
2.5
2.5
2.5
2.5
2.5
2.5
2.7
2.8
2.7
2.7
2.6
2.6
2.5
2.1
1.9
2.4
2.4
2.8
2.8
2.2
1.4
-.5
-.6
1974
2.7
2.7
2.7
2.6
2.7
2.7
2.9
3.0
3.0
2.9
2.9
2.9
2.8
2.4
2.2
2.8
2.9
3.5
3.7
3.2
2.4
-.4
1975
2.8
2.8
2.9
2.8
2.8
2.9
3.1
3.3
3.2
3.2
3.2
3.2
3.2
2.7
2.5
3.3
3.6
4.6
5.1
5.0
5.4
1977
1976
2.7
2.7
2.7
2.7
2.7
2.7
3.0
3.1
3.1
3.0
3.0,;
3.0
2.9
2.3
2.1
2.9
3.1
4.3
5.0
4.7
2.6
2.6
2.6
2.5
2.6
2.5
2.8
3.0
2.9
2.8
2.8
2.8
2.7
2.0
1.6
2.5
2.6
4.1
5.4
1978
2.4
2.4
2.4
2.4
2.4
2.3
2.6
2.7
2.7
2.6
2.5
2.4
2.2
1.3
.6
1.6
1.2
2.8
1979
1980
2.4
2.4
2.4
2.3
2.3
2.3
2.6
2.7
2.7
2.5
2.5
2.4
2.1
.9
-.1
1.0
-.3
2.6
2.6
2.6
2.5
2.6
2.5
2.9
3.1
3.0
2.9
2.9
2.9
2.7
1.3
.1
2.3
1981
2.6
2.6
2.6
2.6
2.6
2.6
3.0
3.2
3.1
3.0
3.1
3.0
2.9
.9
-2.1
1982
2.9
2.9
3.0
3.0
3.1
3.1
3.6
4.0
4.1
4.1
4.4
4.8
5.5
4.0
1983
1984
2.9
2.9
2.9
2.9
3.0
3.0
3.6
4.0
4.1
4.1
4.5
5.3
7.0
2.5
2.5
2.5
2.4
2.5
2.4
3.0
3.4
3.4
3.2
3.3
3.6
1985
2.4
2.4
2.4
2.3
2.3
2.2
2.9
3.3
3.3
3.0
3.1
1986
2.4
2.3
2.4
2.2
2.2
2.1
2.8
3.4
3.4
2.9
1987
2.3
2.2
2.3
2.1
2.0
1.9
2.8
3.6
3.8
1988
1989
1990
2.1
2.0
2.0
1.7
1.6
1.2
2.3
3.4
1.9
1.8
1.7
1.3
1.0
.1
1.2
2.0
1.9
1.9
1.4
.9
-.9
1988
1989
1990
1991
2.6
2.6
2.8
2.5
2.7
1992
1993
2.6
2.6
2.9
2.3
2.7
2.7
3.5
1994
2.4
2.0
2.8
1993
1994
1995
1995
Table C.3.—Chain-Type Price Index for Gross Domestic Product
[Average annual percent change]
Initial year
Terminal year
1970
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
1972 . . ..
1971
5.1
5.2
5.3
5.4
5.5
5.7
5.8
5.8
5.9
6.1
6.3
6.5
6.7
7.0
7.2
7.3
7.1
6.8
6.6
6.5
6.5
6.7
6.0
5.0
4.7
5.2
1971
5.1
5.2
5.3
5.4
5.6
5.7
5.8
5.9
6.0
6.1
6.3
6.6
6.9
7.1
7.4
7.5
7.3
7.0
6.8
6.7
6.8
7.0
6.3
4.9
4.2
1972
5.1
5.2
5.3
5.5
5.6
5.8
5.9
6.0
6.1
6.3
6.5
6.8
7.1
7.4
7.7
7.9
7.7
7.4
7.3
7.3
7.5
8.0
7.3
5.6
1973
5.1
5.2
5.3
5.5
5.6
5.8
5.9
6.0
6.1
6.3
6.6
6.9
7.2
7.6
7.9
8.1
8.0
7.7
7.6
7.7
8.1
9.2
8.9
1974
4.9
5.0
5.2
5.3
5.5
5.6
5.7
5.8
5.9
6.1
6.4
6.7
7.0
7.4
7.8
8.0
7.8
7.5
7.2
7.2
7.6
9.4
1975
4.7
4.8
4.9
5.1
5.2
5.4
5.5
5.6
5.7
5.8
6.1
6.4
6.8
7.2
7.6
7.8
7.5
7.0
6.5
6.1
5.8
1977
1976
4.6
4.8
4.9
5.0
5.2
5.3
5.4
5.5
5.6
5.8
6.1
6.5
6.9
7.3
7.9
8.2
7.9
7.4
6.9
6.5
4.5
4.7
4.8
4.9
5.1
5.3
5.4
5.5
5.6
5.8
6.1
6.5
7.0
7.5
8.2
8.6
8.4
7.9
7.3
1978
4.4
4.5
4.6
4.8
4.9
5.1
5.2
5.3
5.4
5.6
5.9
6.4
6.9
7.5
8.4
9.1
8.9
8.5
1979
4.1
4.3
4.4
4.5
4.7
4.8
4.9
5.0
5.1
5.2
5.5
6.0
6.6
7.3
8.3
9.3
9.3
1980
3.8
3.9
4.0
4.2
4.3
4.4
4.5
4.5
4.5
4.7
4.9
5.4
5.9
6.6
7.8
9.4
1981
3.5
3.6
3.6
3.7
3.8
4.0
4.0
3.9
3.9
3.9
4.1
4.4
4.8
5.3
6.3
1982
3.3
3.4
3.4
3.5
3.6
3.7
3.7
3.6
3.5
3.4
3.5
3.8
4.0
4.3
1983
3.2
3.3
3.3
3.4
3.5
3.6
3.6
3.5
3.3
3.2
3.3
3.6
3.8
1984
3.2
3.2
3.3
3.4
3.5
3.6
3.6
3.4
3.2
3.0
3.0
3.4
1985
3.1
3.2
3.3
3.4
3.5
3.6
3.6
3.4
3.1
2.8
2.6
1986
3.2
3.3
3.4
3.5
3.7
3.8
3.8
3.6
3.4
3.1
1987
3.2
3.3
3.4
3.6
3.8
4.0
4.1
3.9
3.7
3.1
3.3
3.4
3.6
3.8
4.2
4.3
4.2
3.0
3.1
3.2
3.4
3.7
4.1
4.4
2.8
2.9
2.9
3.1
3.3
3.9
1987
1988
1989
1990
1991
2.5
2.6
2.6
2.7
2.8
1992
2.5
2.5
2.5
2.6
2.4
2.5
2.4
2.4
2.5
2.3
1992
1993
1994
1995
Table C.4.—Real Gross Domestic Purchases
[Average annual percent change, based on chained (1992) dollar estimates]
Initial year
Terminal year
1970
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
1972
1971
1971
2.7
2.7
2.8
2.7
2.7
2.7
2.9
3.0
3.1
3.1
3.1
3.1
3.0
2.6
2.4
2.8
2.8
3.3
3.5
3.2
2.9
2.2
3.1
4.7
4.6
3.6
2.7
2.7
2.7
2.7
2.7
2.7
2.9
3.0
3.0
3.0
3.1
3.0
3.0
2.5
2.3
2.7
2.7
3.3
3.5
3.2
2.7
1.8
2.9
5.2
5.7
1972
2.6
2.6
2.6
2.6
2.5
2.5
2.7
2.9
2.9
2.9
2.9
2.8
2.8
2.3
2.0
2.4
2.3
3.0
3.1
2.7
2.0
.6
1.6
4.8
1973
2.5
2.5
2.5
2.4
2.4
2.4
2.6
2.7
2.7
2.7
2.7
2.7
2.6
2.0
1.6
2.1
2.0
2.7
2.8
2.2
1.1
-1.4
-1.5
1974
2.7
2.7
2.7
2.7
2.6
2.6
2.9
3.0
3.1
3.1
3.1
3.1
3.0
2.4
2.0
2.6
2.6
3.5
3.9
3.4
2.5
-1.3
1975
2.9
2.9
2.9
2.9
2.9
2.9
3.2
3.4
3.4
3.4
3.5
3.5
3.5
2.9
2.5
3.2
3.4
4.8
5.7
5.9
6.4
1976
2.7
2.7
2.7
2.7
2.7
2.6
3.0
3.1
3.2
3.2
3.2
3.2
3.1
2.4
1.9
2.6
2.7
4.3
5.3
5.4
1977
2.6
2.5
2.6
2.5
2.5
2.5
2.8
2.9
3.0
3.0
3.0
2.9
2.8
1.9
1.2
1.9
1.8
3.7
5.3
1978
2.4
2.4
2.4
2.3
2.3
2.2
2.6
2.7
2.7
2.7
2.7
2.6
2.4
1.2
.2
.9
.1
2.2
1979
2.4
2.4
2.4
2.3
2.3
2.2
2.6
2.8
2.8
2.8
2.8
2.7
2.5
1.0
-.4
.2
-2.0
1980
2.7
2.7
2.8
2.7
2.7
2.6
3.1
3.3
3.4
3.5
3.6
3.7
3.6
2.0
.4
2.4
1981
2.7
2.7
2.8
2.7
2.7
2.7
3.1
3.4
3.5
3.6
3.8
4.0
4.0
1.8
-1.6
NOTE.—In these triangles, the growth rate from one year to any other year can be found at the intersection
of the column for the earlier year and the row for the later year; thus, growth rates from one year to the next
are shown on the main diagonal. For example, from 1985 to 1995, real gross domestic product grew at an average
annual rate of 2.4 percent; from 1984 to 1985, it grew 3.6 percent.
1982
3.1
3.1
3.2
3.1
3.1
3.1
3.7
4.2
4.4
4.7
5.2
5.9
6.9
5.3
1983
2.9
2.9
3.0
2.9
2.9
2.9
3.5
4.0
4.2
4.6
5.2
6.2
8.5
1984
2.4
2.4
2.4
2.3
2.2
2.1
2.7
3.1
3.2
3.3
3.6
3.9
1985
2.3
2.2
2.3
2.1
1.9
1.8
2.5
2.9
3.0
3.0
3.3
1986
2.2
2.1
2.1
1.9
1.7
1.5
2.3
2.8
2.8
2.7
2.1
2.0
2.1
1.8
1.5
1.2
2.1
2.8
2.9
2.0
1.9
1.9
1.5
1.2
.6
1.8
2.7
2.0
1.8
1.8
1.2
.7
-.4
.8
2.1
2.0
2.0
1.4
.6
-1.6
1991
2.9
2.9
3.2
2.9
2.8
2.9
2.9
3.4
2.9
2.9
2.9
3.9
2.4
1.9
2.9
D-40
SURVEY OF CURRENT BUSINESS
• National Data
January 1998
Table C.5.—Chain-Type Price Index for Gross Domestic Purchases
[Average annual percent change]
Initial year
Terminal year
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
1972
1971
1970
5.2
5.3
5.4
5.5
5.7
5.8
5.9
6.0
6.1
6.2
6.4
6.7
6.9
7.2
7.5
7.6
7.5
7.1
6.9
6.8
6.8
7.0
6.4
5.2
4.9
5.3
1971
5.1
5.3
5.4
5.5
5.7
5.8
5.9
6.0
6.1
6.3
6.5
6.8
7.0
7.3
7.7
7.9
7.7
7.3
7.1
7.1
7.1
7.4
6.8
5.2
4.5
1972
5.2
5.3
5.4
5.6
5.7
5.9
6.0
6.1
6.2
6.4
6.6
6.9
7.3
7.6
8.0
8.2
8.1
7.8
7.6
7.6
7.8
8.4
8.0
5.9
1973
5.1
5.3
5.4
5.6
5.7
5.9
6.0
6.1
6.3
6.5
6.7
7.0
7.4
7.8
8.2
8.5
8.4
8.1
7.9
8.0
8.4
9.7
102
1974
4.9
5.1
5.2
5.3
5.5
5.7
5.8
5.9
6.0
6.2
6.4
6.8
7.1
7.5
8.0
8.3
8.2
7.7
7.3
7.3
7.5
9.3
1975
4.7
4.8
5.0
5.1
5.3
5.4
5.6
5.6
5.7
5.9
6.1
6.5
6.9
7.3
7.8
8.1
7.9
7.3
6.7
6.3
5.8
1977
1976
4.7
4.8
4.9
5.1
5.2
5.4
5.5
5.6
5.7
5.9
6.2
6.6
7.0
7.5
8.1
8.6
8.5
7.7
7.1
6.9
1978
4.5
4.7
4.8
5.0
5.1
5.3
5.4
5.5
5.6
5.8
6.1
6.5
7.0
7.6
8.4
9.0
9.0
8.2
7.4
4.4
4.5
4.7
4.8
5.0
5.2
5.3
5.3
5.5
5.7
5.9
6.4
7.0
7.7
8.7
9.6
9.8
9.0
1979
4.1
4.3
4.4
4.5
4.7
4.8
4.9
5.0
5.1
5.2
5.5
6.0
6.6
7.3
8.6
9.9
10.7
1980
3.7
3.8
3.9
4.1
4.2
4.3
4.4
4.4
4.4
4.5
4.7
5.1
5.6
6.3
7.5
9.2
1981
3.4
3.5
3.5
3.6
3.7
3.8
3.9
3.8
3.7
3.7
3.8
4.1
4.4
4.8
5.9
1982
3.2
3.3
3.3
3.4
3.5
3.6
3.6
3.5
3.4
3.3
3.3
3.5
3.7
3.8
1983
3.2
3.2
3.3
3.4
3.5
3.6
3.6
3.4
3.3
3.2
3.1
3.4
3.5
1984
3.1
3.2
3.3
3.4
3.5
3.6
3.6
3.4
3.2
3.1
2.9
3.2
1985
1986
1987
3.2
3.3
3.4
3.5
3.7
3.9
3.9
3.7
3.5
3.4
3.1
3.2
3.3
3.4
3.5
3.7
3.7
3.5
3.2
3.0
2.6
3.1
3.3
3.4
3.6
3.8
4.0
4.1
3.9
3.6
1988
3.1
3.2
3.3
3.5
3.8
4.1
4.4
4.2
1989
2.9
3.1
3.2
3.4
3.7
4.1
4.5
1990
2.7
2.8
2.8
3.0
3.2
3.7
1991
2.5
2.5
2.5
2.6
2.8
1992
2.4
2.4
2.4
2.5
1993
2.3
2.4
2.3
1994
2.4
2.5
1995
2.2
Table C.6.—Real Final Sales of Domestic Product
[Average annual percent change, based on chained (1992) dollar estimates]
Initial year
Terminal year
1970
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
1972
1971
2.8
2.8
2.8
2.8
2.8
2.8
3.0
3.1
3.1
3.0
3.0
3.0
2.9
2.7
2.6
3.0
3.1
3.4
3.4
3.2
3.0
2.8
3.3
4.5
4.1
2.7
1971
2.8
2.8
2.8
2.8
2.8
2.8
3.0
3.1
3.1
3.0
3.0
3.0
2.9
2.7
2.6
3.0
3.2
3.5
3.5
3.3
3.0
2.8
3.4
5.3
5.4
1972
2.6
2.6
2.6
2.6
2.7
2.7
2.9
2.9
2.9
2.9
2.9
2.8
2.7
2.5
2.3
2.7
2.9
3.2
3.2
2.8
2.4
1.9
2.5
5.3
1973
2.5
2.5
2.5
2.5
2.5
2.5
2.7
2.8
2.8
2.7
2.7
2.6
2.4
22
2.0
2.4
2.6
2.9
2.8
2.2
1.5
.3
-.3
1974
2.7
2.7
2.7
2.7
2.7
2.7
2.9
3.0
3.0
2.9
2.9
2.9
2.7
2.5
2.3
2.8
3.1
3.6
3.6
3.1
2.4
.9
1975
2.7
2.7
2.8
2.8
2.8
2.8
3.0
3.1
3.2
3.1
3.1
3.1
2.9
2.7
2.5
3.1
3.5
4.3
4.6
4.2
4.0
1977
1976
2.7
2.7
2.7
2.7
2.7
2.7
3.0
3.1
3.1
3.0
3.0
3.0
2.8
2.5
2.3
2.9
3.4
4.3
4.8
4.4
1978
2.6
2.6
2.6
2.6
2.6
2.6
2.9
3.0
3.0
2.9
2.9
2.8
2.6
2.2
1.9
2.6
3.1
4.3
5.3
2.4
2.4
2.4
2.4
2.4
2.4
2.7
2.8
2.7
2.6
2.6
2.5
2.1
1.5
1.0
1.7
2.0
3.4
1979
2.4
2.4
2.4
2.3
2.3
2.3
2.6
2.7
2.7
2.5
2.5
2.3
1.9
1.1
.3
.8
.6
1980
2.5
2.5
2.5
2.5
2.5
2.5
2.8
2.9
2.9
2.8
2.8
2.7
2.2
1.3
.1
1.1
1981
2.6
2.6
2.6
2.6
2.6
2.6
3.0
32
3.2
3.1
3.2
3.1
2.6
1.4
-.9
1982
2.9
2.9
2.9
2.9
3.0
3.0
3.5
3.8
3.9
3.9
4.2
4.4
4.3
3.7
1983
2.8
2.8
2.8
2.8
2.9
2.9
3.5
3.8
4.0
3.9
4.4
4.8
5.0
1984
2.6
2.6
2.6
2.6
2.6
2.7
3.2
3.6
3.7
3.6
4.1
4.6
1985
1986
2.4
2.4
2.4
2.3
2.4
2.3
3.0
3.3
3.4
3.1
3.5
2.3
2.3
2.3
2.2
2.2
2.1
2.8
3.2
3.4
2.6
1987
2.3
2.2
2.2
2.1
2.1
2.0
2.9
3.5
4.1
1988
2.1
2.0
1.9
1.7
1.6
1.3
2.3
3.0
1989
1.9
1.8
1.7
1.4
1.1
.4
1.6
1990
2.0
1.8
1.7
1.3
.9
-.7
1991
2.6
2.5
2.5
2.3
2.5
1992
2.6
2.5
2.5
2.1
1993
2.7
2.7
2.9
1994
2.6
2.5
1995
2.8
Table C.7.—Real Disposable Personal Income
[Average annual percent change, based on chained (1992) dollar estimates]
Initial year
Terminal year
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
1984
1983
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
1972
1971
1970
2.8
2.8
2.8
2.8
2.9
2.9
3.0
3.1
3.2
3.1
3.2
3.2
3.2
2.9
2.9
3.1
3.2
3.5
3.6
3.4
3.4
3.3
3.7
5.2
4.3
4.0
1971
2.8
2.8
2.8
2.8
2.8
2.8
3.0
3.1
3.1
3.1
3.2
3.2
3.2
2.8
2.8
3.0
3.1
3.4
3.5
3.3
3.3
3.1
3.6
5.8
4.6
1972
2.7
2.7
2.7
2.7
2.8
2.8
2.9
3.0
3.0
3.0
3.1
3.1
3.1
2.7
2.7
2.9
2.9
3.3
3.4
3.0
3.0
2.6
3.1
7.1
1973
2.5
2.5
2.5
2.5
2.5
2.5
2.7
2.7
2.8
2.7
2.8
2.7
2.7
2.3
2.2
2.4
2.4
2.7
2.6
2.0
1.6
.5
-.7
1974
2.7
2.7
2.6
2.7
2.7
2.7
2.9
3.0
3.0
3.0
3.1
3.0
3.1
2.6
2.6
2.8
2.9
3.4
3.5
3.0
2.8
1.7
1975
2.7
2.7
2.7
2.7
2.8
2.8
3.0
3.0
3.1
3.1
3.2
3.2
3.2
2.7
2.7
3.0
3.1
3.8
4.1
3.6
3.9
1976
2.6
2.7
2.6
2.6
2.7
2.7
2.9
3.0
3.1
3.0
3.1
3.1
3.1
2.5
2.5
2.8
2.9
3.7
4.2
3.2
1977
2.6
2.6
2.6
2.6
2.7
2.7
2.9
3.0
3.0
3.0
3.1
3.1
3.1
2.4
2.3
2.7
2.8
3.9
5.2
1978
2.5
2.5
2.4
2.4
2.5
2.5
2.7
2.8
2.8
2.7
2.8
2.8
2.8
1.9
1.6
1.9
1.7
2.7
1979
2.4
2.5
2.4
2.4
2.5
2.5
2.7
2.8
2.8
2.7
2.9
2.8
2.8
1.6
1.3
1.5
.6
1980
2.6
2.6
2.5
2.6
2.6
2.6
2.9
3.0
3.1
3.0
3.2
3.2
3.3
2.0
1.6
2.3
1981
2.6
2.6
2.5
2.6
2.7
2.6
2.9
3.1
3.2
3.1
3.4
3.5
3.6
1.8
.9
1982
2.7
2.7
2.7
2.7
2.8
2.8
3.2
3.4
3.6
3.6
4.1
4.4
5.0
2.8
1983
2.7
2.7
2.7
2.7
2.9
2.9
3.3
3.5
3.8
3.8
4.5
5.1
7.3
1984
2.3
2.3
2.2
2.2
2.3
2.2
2.6
2.8
3.0
2.6
3.1
3.0
1985
2.3
2.3
2.1
2.1
2.2
2.1
2.5
2.7
2.9
2.4
3.2
1986
2.2
2.1
2.0
2.0
2.0
1.9
2.3
2.5
2.8
1.6
1987
2.2
2.2
2.1
2.0
2.1
1.9
2.6
2.9
3.9
1988
2.0
2.0
1.7
1.7
1.7
1.3
1.9
2.0
1989
2.0
2.0
1.7
1.6
1.6
.9
1.8
1990
2.0
2.0
1.7
1.5
1.4
0
1991
2.4
2.5
2.2
2.2
2.8
1992
2.3
2.4
1.9
1.7
1993
2.6
2.7
2.2
1994
2.8
3.3
1995
2.3
National Data • D-41
SURVEY OF CURRENT BUSINESS
January 1998
D. Domestic Perspectives,
This table presents data collected from other government agencies and private organizations, as noted. Quarterly
data are shown in the middle month of the quarter.
Table D.1.—Domestic Perspectives
1997
1996
1995
1996
Nov.
Oct.
Jan.
Dec.
Mar.
Feb.
May
Apr.
June
Consumer and producer prices, (seasonally adjusted)
July
Sept.
Aug.
Oct.
Nov.
1
Consumer price index for all urban consumers,
1982-84=100:
All items
Less food and energy
Services
152.4
161.2
168.7
156.9
165.6
174.1
158.3
167.0
175.8
158.8
167.4
176.3
159.2
167.7
176.8
159.4
167.9
177.2
159.8
168.3
177.6
159.9
168.7
178.0
160.0
169.2
178.5
160.1
169.5
178.8
160.3
169.7
179.3
160.6
170.0
179.8
160.9
170.1
180.0
161.3
170.4
180.4
161.6
170.8
181.0
161.8
171.0
181.4
Producer price index, 1982=100:
Finished goods
Less food and energy
Finished consumer goods
Capital equipment
Intermediate materials
Crude materials
127.9
140.0
125.6
136.7
124.9
102.7
131.3
142.0
129.5
138.3
125.7
113.5
132.5
142.3
131.0
138.5
126.0
112.0
132.7
142.3
131.3
138.5
125.8
115.0
133.4
142.5
132.1
138.5
126.4
122.1
133.0
142.5
131.6
138.6
126.6
126.7
132.6
142.4
131.1
138.5
126.4
116.2
132.3
142.6
130.8
138.5
125.9
107.3
131.6
142.5
129.9
138.4
125.5
107.9
131.3
142.2
129.6
138.1
125.3
110.2
131.1
142.3
129.4
138.2
125.3
106.7
131.0
142.0
131.4
142.2
129.7
138.0
125.2
107.4
132.0
142.8
130.4
138.4
125.6
108.0
132.1
142.8
130.6
138.3
125.5
112.3
131.9
142.7
130.3
138.2
125.7
114.1
0.02
-0.10
.27
0.70
-0.83
.49
-0.33
.39
0.62
.90
7.634
1.754
i"751
1754
1758
5.54
5.13
7.30
6.30
5.41
7.48
8.50
5.54
4.97
7.04
6.21
5.39
7.43
8.50
5.50
4.95
6.90
6.03
5.38
7.29
8.50
5.56
5.15
6.79
5.88
5.33
7.21
8.50
. .. .
. .
1292
138.0
125.2
106.6
Money, interest rates, and stock prices
2
Money stock (seasonally adjusted):
Percent change:
M1
M2
Ratio:
Gross domestic product to M1
Personal income to M2
-1.19
.26
-0.02
.49
0.09
.55
-0.13
.40
0.09
.39
-0.50
.40
-0.94
.46
6.356
1.722
6.906
1734
1740
7.212
1.742
1745
1747
7.355
1.753
1756
1751
5.83
5.51
7.72
6.57
5.95
7.95
8.83
5.30
5.02
7.62
6.44
5.76
7.80
8.27
5.24
5.01
7.69
6.53
5.72
7.92
8.25
5.31
5.03
7.43
6.20
5.59
7.62
8.25
5.29
4.87
7.45
6.30
5.64
7.60
8.25
5.25
5.05
7.63
6.58
5.72
7.82
8.25
5.19
5.00
7.54
6.42
5.63
7.65
8.25
5.39
5.14
7.85
6.69
5.76
7.90
8.30
5.51
5.17
8.04
6.89
5.88
8.14
8.50
-0.24
-.07
7.553
1.758
.34
1762
1760
5.56
4.92
7.71
6.49
5.53
7.69
8.50
5.52
5.07
7.44
6.22
5.35
7.50
8.50
.55
2
Interest rates (percent, not seasonally adjusted):
Federal funds rate
Discount rate on new 91 -day Treasury bills
Yield on new high-grade corporate bonds
10-Year U S Treasury bonds
Yield on municipal bonds, 20-bond average
Mortgage commitment rate
Average prime rate charged by banks
Index of stock prices (not seasonally adjusted):3
500 common stocks, 1941^3=10
541.64
670.83
701.46
735.67
743.25
76622
798.39
792.16
763.93
5.50
5.13
7.90
671
5.70
7.94
8.50
833.09
876.29
925.29
Labor markets (thousands, seasonally adjusted, unless otherwise noted)
Civilian labor force
Labor force participation rates (percent):
Males 20 and over
Females 20 and over
16-19 years of age
Civilian employment
Ratio, civilian employment to working-age
population (percent)
Persons engaged in nonagricultural activities
Employees on nonagricultural payrolls
Goods-producing industries
Services-producing industries
Average weekly hours, manufacturing (hours)
Average weekly overtime hours, manufacturing
(hours)
Number of persons unemployed
Unemployment rates (percent):
Total
15 weeks and over
Average duration of unemployment (weeks)
Nonfarm business sector, 1992=100:
Output per hour of all persons
Unit labor costs
Hourly compensation
See footnotes at the end of the table.
132,304
76.7
59.4
53.5
92774
937.02
951.16
938.92
1
133,943 134,636 134,831 135,022 135,848 135,634 136,319 136,098 136,173 136,200 136,290 136,480 136,467 136,361 136,814
76.8
59.9
52.3
76.8
60.1
52.4
76.9
60.2
52.0
76.8
60.3
52.3
77.1
60.4
51.9
76.9
60.2
52.8
77.1
60.6
52.9
77.1
60.4
52.1
76.9
60.5
52.2
77.0
60.5
51.0
77.0
60.4
51.4
77.0
60.6
50.5
76.8
60.6
50.7
76.8
60.4
50.6
77.0
60.3
52.1
124,900 126,708 127,617 127,644 127,855 128,580 128,430 129,175 129,384 129,639 129,364 129,708 129,804 129,715 129,894 130,565
63.4
63.4
63.4
63.2
637
63.8
63.5
63.6
62.9
63.8
637
637
63.9
63.8
63.8
64.0
121,460 123,264 124,167 124,290 124,429 125,112 125,138 125,789 125,887 126,209 125,973 126,226 126,421 126,265 126,591 127,184
117,191 119,523 120,248 120,450 120,659 120,909 121,162 121,344 121,671 121,834 122,056 122,440 122,492 122,792 123,079 123,483
24,265 24,431 24,479 24,508 24,540 24,581 24,653 24,670 24,667 24,702 24,714 24,713 24,765 24,771 24,815 24,887
92,925 95,092 95,769 95,942 96,119 96,328 96,509 96,674 97,004 97,132 97,342 97,727 97,727 98,021 98,264 98,596
41.6
41.6
41.7
41.7
42.0
41.8
41.9
42.1
42.1
42.0
41.8
41.8
41.8
41.9
42.0
42.1
4.4
4.5
4.5
4.6
4.7
4.7
4.7
4.9
4.9
4.8
4.6
47
4.7
4.7
4.8
4.9
7,404
7,236
7,019
7,187
7,167
7,268
7,205
7,144
6,714
6,534
6,836
6,583
6,677
6,752
6,467
6,249
5.6
1.8
5.4
1.7
5.2
1.7
5.3
1.6
5.3
1.6
5.4
1.6
16.6
16.7
100.7
106.0
106.7
102.0
107.9
110.1
16.7
16.0
102.4
108.9
111.5
15.8
16.0
5.3
1.6
16.0
102.8
109.7
112.8
5.2
1.5
15.3
4.9
1.5
15.2
4.8
1.5
15.1
103.4
110.0
113.7
5.0
1.5
15.1
4.8
1.6
16.6
4.9
1.5
15.9
104.4
109.9
114.8
4.9
1.6
16.0
4.7
1.5
16.6
4.6
1.3
15.6
SURVEY OF CURRENT BUSINESS
D-42 • National Data
January 1998
Table D.1.—Domestic Perspectives—Continued
1997
1996
1995
1QQR
Oct.
Nov.
Dec.
Feb.
Jan.
Mar.
May
Apr.
June
July
Aug.
Sept.
Nov.
Oct.
Construction (seasonally adjusted at annual rates)4
Total new private construction put in
place (billions of dollars)
Residential
Nonresidential
406.8
230.7
135.0
437.1
247.2
149.4
449.0
247.9
159.3
448.9
248.3
159.9
447.0
247.9
157.4
444.4
246.7
161.0
452.0
251.4
163.7
452.7
254.0
160.5
457.6
259.9
156.5
459.9
259.7
160.0
456.9
257.3
159.2
463.5
258.8
164.8
463.7
260.0
163.4
466.6
263.7
162.6
466.4
265.6
160.7
Housing starts (thousands of units):
Total
1-unrt structures
1,354
1,076
1,477
1,161
1,407
1,104
1,486
1,133
1,353
1,024
1,375
1,125
1,554
1,237
1,479
1,142
1,483
1,133
1,402
1,098
1,503
1,134
1,465
1,149
1,395
1,091
1,507
1,181
1,519 1,531
1,138 1,166
667
757
706
788
794
822
826
825
765
764
802
812
791
811
797
752,886
330,178
208,336
214,372
762,543
335,366
213,372
213,805
762,054
335,188
213,457
213,409
New 1 -family houses sold
(thousands of units)
Manufacturing and trade, inventories and sales (millions of dollars, seasonally adjusted) 4
Sales:
Total manufacturing and trade
Manufacturing
Merchant wholesalers
Retail trade
Inventories:
Total manufacturing and trade
Manufacturing
Merchant wholesalers
Retail trade
8,179,165
3,589,395
2,265,732
2,324,038
8,601,158
3,735,183
2,420,679
2,445,296
728,644
316,461
205,490
206,693
730,646
319,296
205,561
205,789
728,760
316,306
205,560
206,894
737,464
319,725
207,506
210,233
747,790
322,967
211,801
213,022
745,460
322,923
210,195
212,342
746,769
326,909
209,926
209,934
742,945
323,567
210,008
209,370
750,027
328,315
210,772
210,940
757,485
332,895
211,041
213,549
985,905 1,004,425 1,003,742 1,004,540 1,004,425 1,007,618 1,011,899 1,013,376 1,017,150 1,019,025 1,026,255 1,027,787 1,030,243 1,037,172 1,040,821
429,089 434,434 434,038 435,200 434,434 435,743 437,873 438,560 441,508 443,460 444,823 446,602 448,447 449,152 451,143
253,066 255,808 255,526 255,850 255,808 257,895 258,088 259,389 258,046 259,029 264,154 262,314 264,899 268,112 269,657
303,750 314,183 314,178 313,490 314,183 313,980 315,938 315,427 317,596 316,536 317,278 318,871 316,897 319,908 320,021
Industrial production indexes and capacity utilization rates (seasonally adjusted) 2
Industrial production indexes,
1992=100:
Total
By industry:
Durable manufactures
Nondurable manufactures ....
By market category:
Consumer goods
Capacity utilization rates (percent):
Total industry
Manufacturing
114.5
118.5
119.6
120.6
120.9
121.3
122.1
122.5
123.1
123.3
123.5
124.5
125.2
125.7
126.4 127.3
139.5
110.8
140.1
110.7
141.2
110.5
142.4
110.9
144.3
111.0
144.6
111.3
145.5 147.6
112.0 112.4
115.4 116.0
123.9
107.4
131.7
108.0
133.3
109.1
134.9
109.6
135.3
110.3
136.1
110.2
137.8
110.4
138.7
110.5
109.9
111.8
112.1
113.1
113.6
113.2
113.1
113.4
113.4
113.9
113.5
113.9
114.6
114.6
83.4
82.8
82.4
81.4
82.2
81.1
82.5
81.5
82.5
81.5
82.4
81.4
82.6
81.7
82.5
81.6
82.6
81.6
82.4
81.4
82.3
81.3
82.6
81.5
82.8
81.8
82.8
81.7
Credit market borrowing (billions of dollars, seasonally adjusted at annual rates) 2
All sectors, by instrument:
Total
Open market paper
U.S. government securities
Municipal securities
Corporate and foreign bonds ...
Bank loans n e e
Other loans and advances
Mortgages
Consumer credit
Sources:
1. Bureau of Labor Statistics.
2. Federal Reserve Board.
1,217.7
74.3
348.5
-48.2
311.1
114.7
49.3
229.0
138.9
1,321.0
102.6
376.5
1.3
278.4
13590
1423
379.7
1,041.4
199.2
186.9
1,284.9
1,255.0
1095
1720
189.1
201.9
404
341.9
487
44.2
23.2
76.5
332.4
129.3
153.8
335.4
126.7
92.6
50.2
61.8
14.0
-4.1
67.2
85.9
330.6
345.9
283.5
322.7
321.4
88.8
38.6
69.6
57.8
42.7
3. Standard and Poor's, Inc.
4. Bureau of the Census,
n.e.c. Not elsewhere classified.
82.9
81.8
83.2
82.3
SURVEY OF CURRENT BUSINESS
January 1998
National Data • D-43
E. Charts.
Percent changes shown in this section are based on quarter-to-quarter changes and are expressed at seasonally
adjusted annual rates; likewise, levels of series are expressed at seasonally adjusted annual rates as appropriate.
SELECTED NIPA SERIES
Chained (1992) dollars
Apr Feb
28000
Dec Nov
Nov Mar
JanJIyJIy
Jly Mar
Nov
28000
REAL GROSS DOMESTIC PRODUCT PER CAPITA
26000-
-56000
24000
-24000
22000
-22000
20000 -
-20000
18000 -
-18000
16000
-16000
14000
-14000
12000
-12000
1
0
Percent
20
0 0 0 1 i I 1 I I 1I
59'
'61
'63
'65
I
I
'67
1
APT Feb
I
I1
'69
I
I I I I I I I I
71 ' ! 73' '75 1 '77 1
Dae Nov
Nov
Mar
I
'79
I
1
| I
' 81'
I
i | I I | 1I
'S3 ' '85'
'87
Jan Jlv Jlv
I
'89
|
1
I
'si
I
1
|
|
'93'
Nov
I
I
'95'
I! 1
97
0
0
0
20
REAL GROSS DOMESTIC PRODUCT (PERCENT CHANGE)
15
-15
10
-10
5
- 5
Illl.
r
-5
-10
T
- -5
i67i y i71i
59'
U.S. Department of Commerce. Bureau of Economic Analysis
- 0
"10
0
D-44
• National Data
SURVEY OF CURRENT BUSINESS
January 1998
SELECTED NIPA SERIES
Percent
Apr Fob
60
Dec Nov
Now
Mar
JanJIyJIy
Jly Mar
Nov
60
SHA|fp OF FEDERAL GOVERNMENT RECEIPT^'*
Personal tax and nontax payi
50-
-50
40-
-40
30 -
-30
20 -
-20
10 -
-10
Indirect business taxes
59
Apr Feb
70
Dec Nov
97
93
'73'
61
•ercent
Nov Mar
Jan Jly Jly
Jly Mar
Nov
70
SHARiS OF FEDERAL GOVERNMENT CURRENffXPENDITURES
60 _
60
50 _
50
40 _
40
30 _
30
20 _
20
Grantt to State and local governments
10 -
•10
Net interest
0
0
59
Percent"
Apr Feb
93
'77!
Dec Hoy
Nov Mar
JanJIyJIy
'97
Jly Mar
Nov
RArt&GOVERNMENT SURPLUS/DEFICIT! NIRAtfp GROSS DOMOTC PRODUCT
1
1
59'
'ei'
'63'
W
'67
'69
'/I '
US. Department of Commerce, Bureau of Economic Analysis
'73'
'75'
'77
1
'79
1
'81
1
'as'
's5'
's?
1
'sg
1
'91'
'93'
'95'
!
97
SURVEY OF CURRENT BUSINESS
January 1998
National Data •
D-45
SELECTED NIPA SERIES
Dec Nov
Apr Feb
RATIO. SAVING TO GROSS NATIONAL PRODUCT
Nov
Mar
Jan Jly Jly
Nov
Jly Mar
25
20-
-20
15-
10-
HO
L
5-
59'
'6V
'67'
Percent
Apr Feb
25
'69
71 '
73 '
Dec Nov
Nov
V5'
'77'
'79'
' 81 '
Jan Jly Jly
Mar
'83 '
'85 '
's7'
Nov
'eg'
'91'
'93'
'95'
5
'97
Jly Mar
25
RATIO, INVESTMENT TO GROSS NATIONAL PRODUCT
20-
-20
15-
-15
Gross private domestic investment **'"
-10
10-
59
Percent
Apr Feb
60
'63 1
'67 1
'69 1
Dec Nov
'73'
Nov
'77'
Mar
79'
'81 1
Jan Jly Jly
'83
Jly Mar
Nov
60
SHAMS OF GROSS PRIVATE DOMESTIC FIXED INVESTMENT
50-
40-
-50
Producers' durable equipment, nonregnential
-40
Residential investment
30-
-30
20-
-20
10-
-10
1
'67
>«>
>71
59^81' '63 1
U.& Department of Commerce, Bureau ol Economic Analysis
'73 1 '75 1 "77! '79' 'si 1 I83I
'as' '87'
'93'
97
D-46
SURVEY OF CURRENT BUSINESS
• National Data
January 1998
SELECTED NIPA SERIES
1 SHARES OF NATIONAL INCOME
1996
Wage and salary
accruals, 63.3%
Net interest, 6.8%
Corporate profits
with IVA and CCAdj, 12.2%
Corporate profits
with IVA and CCAdj, 11.8%
Supplements to
wages and salaries, 5.2%
_______
Rental income ol persons
Proprietors' income
wth IVA, 2.3%
with IVA and CCAdj, 8.3%
Proprietors' income
with IVA and CCAdj, 12.3%
i SHARES OF GROSS DOMESTIC PRODUCT BY SECTOR
1959
1996
Business, 86.1%
Business, 83.8%
General
government, 11.4%
General
government, 11.6%
Households and
institutions, 2.4%
Households and
institutions, 4.5%
SHARES OF GROSS DOMESTIC PURCHASES
1959
Personal
consumption
expenditures, 62.5%
1996
Personal
consumption
expenditures, 67.4%
Government consumption
expenditures and gross
investment, 18.2%
Government consumption
expenditures and gross
investment, 22.0%
Nonresidential
investment, 10.0%
Residential investment, 5.5%
U.S. Department of Commerce, Bureau of Economic Analysis
Nonresidential
investment, 10.4%
Residential investment, 4.0%
i
'•
SURVEY OF CURRENT BUSINESS
January
National Data • D-47
SELECTED NIPA SERIES
Percent
60
-JApr Feb
Dec Nov
Nov
Mar
JanJtyJIy
Jly Mar
Nov
60
SHARES OF GROSS DOMESTIC PRODUCT BY TYPE OF PRODUCt "
Output of services
50 -.
_.
-50
40
-40
30-
-30
20 -
-20
.^
Output ol structures
10 -i
-10
71 '
Percent
14
Apr Feb
Dec Noy_
'73'
Nov
'75'
'77'
Mar
TEXPOBTS AS SHARE OF GROSS boMESTicpBSRJCT" "~~r-;,'J! IMPORTS AS SHARE OF GROSS DOMESTIC PUBCNASES
'as'
'79'
Jan Jly Jly
Nov
Jly Mar
14
"^ V
-12
-10
-8
Exports
-6
4
i . A'
2
|_
-4
c
's?'
Percent
60
AprJ-(*_
Dec Nov
Nov ^ Mar
Jan Jly Jly
'89'
'91'
'93'
'95'
'97
Jly Mar
Nov
60
fs'HAf^ OF PERSONAL CONSUMPTION EXPENOTTURES BY TYPEQURODUCT
Services
I
50-
-50
40-
-40
30 ->
-30
201
'20
Durable goods
i-—-••..
10;
59'
"10
'61'
U.& Department ot Commerce, Bureau ot Economic Analysis
'ss'
'87'
'89
91'
'93'
'95'
'97
SURVEY OF CURRENT BUSINESS
D-48 • National Data
January 1998
SELECTED NIPA SERIES
Percent
Nov
Dec Nov
Feb
20
Mar
Jan Jly Jly
Nov
Jly Mar
20
PRQRT MARGIN, DOMESTIC NONFINANCIAL CORPORATIONS'
16
-16
12 -
-12
8-
- 8
4J
'Ratio of corporate profits per unit to cost and profit per unit
59
Ratio
'ei'
'es'
'es'
6?'
Apr Feb
'eg'
71'
Dec Nov
'73'
Nov
'75'
'77'
Mar
'79'
'si'
Jan Jly Jly
'as'
'ss'
'87'
'eg'
Nov
'91'
'93'
'95'
'97
Jly Mar
INV0HTORY/SALES RATIOS, CURRENT-DOLLAR*
Nonfarm inventoriBSto
final sales of goods and structures
4-
-4
Inventories to
final sales of domestic business
-3
Nonfarm inventories to
final sales of domestic business
~2
'Based on current-dollar estimates of inventories and sales
1
Rat >
5
59'
lml W
IBB'
"w"
Apr Feb
'eg'
'71 ^ ^f
Dec Nov
I75I I77
77I
'81
"
Jan Jly Jly
Nov Mar
'as'
'eg'
Nov
'91'
'97
'93'
1
Jty Mar
INvWORY/SALES RATIOS, REAL'
Nonfarm inventories to
final sales of goods and structures
3 -
-3
Inventories to
final sales of domestic business
Nonfarm inventories to
final sales of domestic business
2 -
-2
'Based on chained (1992) dollar estimates of inventories and sales
59'
'6i'
'es' 'es'
'e?'
'es'
71'
U.S. Department or Commerce, Bureau of Economic Analysis
'73'
'75'
'77'
'79'
'or
'as'
as'
'a?'
'eg'
'91'
'93'
'95'
'97
SURVEY OF CURRENT BUSINESS
January 1998
National Data • D-49
OTHER INDICATORS OF THE DOMESTIC ECONOMY
Percent
Nov Mar
JlyMar
JanJIyJIyNov
Percent
Nov Mar
JanJIyJIyNov
PRODUCER PRICE INDEX PERCENT CHANGE)
CONlallER PRICE INDEX ^iCENT CHANGE)
JlyMar
0-2
I I I I I I I I I I I I I I I I I I I I I I I I I
72 74 76 78 80 82 84 86 88 90 92 94 96
Index
Nov Mar
JanJIyJIyNov
JlyMar
I I I M I I I I "I I M
72 74 76 78 80 82 84
Percent
Nov I
JanJIyJIyNov
95
I I I I I I M I N I
86 88 90 92 94 96
JlyMar
90 -
85 -
80 -
75 -
70 -
60
I I I I I I I I I I I I I I I I I I I I I I I I .
72 74 76 78 80 82 84 86 88 90 92 94 96
Hours
NovMar
JlyMar
JanJIyJIyNov
43
AViPgE WEEKLY HOBRSgHHNUFACTURING
65
I 'Pi M i l I I I I I M M M 1 M I N I
72 74 76 78 80 82 84 86 88 90 92 94 96
Hours
Nov Mar
JanJIyJIyNov
JlyMar
AVERSE WEEKLY OV01TIMS HOURS, MANUFACTUFBNG
42-
41 -
40-
39-
38-
37
. . f-
72
74
I I I I I Ml
M i l
76 78 80 82 84 86
M I N I M
90 92 94 96
U.S. Department of Commerce, Bureau of Economic Analysis
i tT I76i i78i f80i T82i i84i 86
i i 88
N I901 92
I i i94 I N
96
72 74
D-50 • National Data
SURVEY OF CURRENT BUSINESS
January 1998
OTHER INDICATORS OF THE DOMESTIC ECONOMY
Percent
Nov Mar
12
JanJIyJIy Nov
Percent
JlyMar
Nov Mar
JanJIyJIy Nov
JlyMar
UNaUPLOYMENT RATE
10-
8-
6-
4-
2-
T i l I I I II
I I I I I
I I I I
72 74 76 78 80 82 84 86 88 90 92 94
Percent
Nov Mar
JanJIyJIy Nov
JlyMar
MOfEY SUPPLY (PERCENTCHANGE)
I
96
i n i M i i i i i i i i i i i i909294
I i i i i i96i
72 74 76 78 80 82848688
Millions
Nov Mar
3.0
JanJIyJIy Nov
JlyMar
2.5 -
82 84 86 88
90 92 94
. . . i i i i i m i i i i i i i T i i i i i96i
72 74 76 78 80 8 2 8 4 8 6 8 8 9 0 9 2 9 4
Thousands
NovMar
JanJIyJIy Nov
JlyMar
1000
800-
2.0 600-
1.5 4001.0 -
200-
0.5 -
i n i i i i r 171 i i i i i i i909294
T M i i 96
ii
72 74 76 78 80 82848688
U.S. Department of Commerce, Bureau of Economic Analysis
. . . i i i M i ri i i i i i i i T i i i i i .
72747678808284868890929496
SURVEY OF CURRENT BUSINESS
January 1998
International Data « D-51
International Data
Transactions TablesTable F.i includes the most recent estimates of U.S. international trade in goods and services; the estimates were
released on December 18,1997 and include "preliminary" estimates for October 1997 and "revised" estimates for
April through September. The sources for the other tables in this section are as noted.
Table F.1.—U.S. International Transactions in Goods and Services
[Millions of dollars; monthly estimates seasonally adjusted]
1996
1995
19 37
1996
June'
July
Aug.'
794,610
848,833
70,435
73,088
73,969
72,444
71,848
74,282
78,124
78,385
77,989
78,365
77,845
78,890
78,116
79,992
Goods
Foods feeds and beverages
Industrial supplies and materials
Capital goods except automotive
Automotive vehicles engines and parts
Consumer goods (nonfood), except automotive
Other goods
Adjustments *
575,871
50,473
146247
233,046
61 828
64,425
28,723
-8871
612,069
55,534
147652
252,895
65021
70,138
33,836
-13 006
50,423
4,424
12189
20417
52,503
4545
12679
22049
57,155
4,181
13731
24,713
6228
6,481
2,808
56,871
4,052
13399
24,760
5935
6,663
3,057
57,326
4,234
13373
24,913
5410
53,687
4,272
12706
22,715
5907
6,264
2,493
56,745
3,832
13169
24,898
6,141
2,744
-1065
51,686
4,327
12091
21,555
5600
6,068
2,595
57,378
3,929
13885
24,482
5719
52,133
4,398
12463
22,052
5465
6,015
3,056
-1 316
57,162
5,892
3,092
-1 309
53,209
5,012
12252
22,21 1
5878
6,070
3,064
-1279
-551
-671
-988
-697
-995
-857
57,964
4,633
13192
25,185
6443
6,730
2,819
-1037
Services
Travel
Passenger fares
.
Other transportation
Royalties and license fees
Other private services
Transfers under U.S. military agency sales contracts2
U.S. Government miscellaneous services
218,739
63,395
19,125
27412
27,383
66,850
13,756
818
236,764
69,908
20,557
27216
29974
73,569
14,647
893
20,012
6,047
20,585
6,145
20,760
6,215
20,162
5,947
1801
2230
2400
2559
6,321
2393
2570
6,370
1,342
69
*8
2563
6,588
1,015
68
20,969
6,366
1 811
2387
2575
6,662
1,101
67
2379
2550
6,756
1,205
64
21,118
6,189
1,830
2365
2540
6,878
1,252
64
20,987
6,027
1791
20,595
6,243
1,797
21,223
6,389
1789
20,311
5,823
1,690
2349
2,574
6,426
1,381
68
896,467
959,873
81,323
81,023
81,634
83,045
83,458
84,138
85,955
86,504
87,178
86,702
Goods
Foods, feeds, and beverages
Industrial supplies and materials
Capital goods except automotive
Automotive vehicles engines and parts
Consumer goods (nonfood), except automotive
Other goods 1
Adjustments
749,431
33,176
181 849
221,431
123 795
159,905
23387
5,888
803,239
35,710
204 482
229 050
128938
171,007
26102
7,950
68,400
2,991
17841
19133
11 160
14,769
67,823
3,009
18250
18943
10156
14,952
2198
69,834
3,074
17944
19466
11 763
15,117
2224
70,448
3,105
17641
19439
12113
15,256
2465
307
315
289
235
247
429
72,032
3,328
17969
20422
11 685
14,927
2244
1,456
72689
3,358
17575
20686
11366
16,214
2472
1,019
73,234
3,378
17905
20988
11625
16,079
2199
68,385
2,976
17562
19330
11 234
14,749
2245
69,828
3,189
18698
19581
10846
15,149
897
891
227
242
259
244
Services
Travel
Passenger fares
Other transportation
Royalties and license fees
Other private services
Direct defense expenditures 2
U.S. Government miscellaneous services
147,036
46,053
14433
28,249
6503
39,285
9890
2,623
156,634
48,739
15776
28,453
7,322
42,796
10861
2,687
12,923
3,955
1 305
2,372
13,200
4,025
1 344
2,478
13,249
4,156
1 367
2,323
13,217
4,061
1 342
2,366
13,624
4,295
1 411
2,448
13,690
4,312
1 425
2,439
13,923
4,411
1 447
2,491
13,815
4,275
14,080
4,388
13,996
4,288
14,060
4,289
14,436
4,524
1412
1398
1399
1484
2,518
13,944
4,340
1 392
2,546
2,478
2,420
2,523
2,575
14,636
4,616
1,515
2,585
556
577
589
604
588
598
613
609
615
623
659
641
651
3578
3,640
3,680
3,707
3,739
3,770
3,811
3,893
3,933
4,062
4,104
4,081
4,074
909
907
911
914
917
922
896
892
891
899
900
901
899
232
227
227
226
229
229
228
227
226
226
228
227
227
227
-191,170 -17,976
80,130
7,089
-1 1 1 040-10887
-15,320
7,385
-7935
-15,176
7,511
-7665
-17,695
7,094
-10601
-18,149
6,538
-11 611
-16,761
6,905
-9856
-14,877
7,046
-7831
-15,528
7,408
-8120
-16,363
7,174
-9189
-15,244
6,907
-8337
-16,849
7,104
-9745
-16,559
7,504
-9055
-18,538
7,310
-11,228
-17,082
7,392
-3,690
Exports of aoods and services
Imports of goods and services
Memoranda:
Balance on goods
Balance on services
Balance on goods and services
.
-173,560
71,703
-101 857
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.'
May
2514
6,196
1,165
71
925
1*99
p Preliminary.
r
Revised.
1. Reflects adjustments necessary to bring the Census Bureau's component data in line with the concepts and
definitions used to prepare BEA's international and national accounts.
2130
1711
2291
2561
6,510
1
2321
4162
13507
24971
6171
6,339
2,709
1880
1397
2361
Sept/
Oct.*'
6251
6261
6174
6,720
2,968
6,397
3,218
-1031
6,448
3,228
-1 044
56,370
4,337
13133
24,778
5844
6,400
3,010
-1 133
21,100
6,098
1,805
2289
7,059
1,245
63
21,564
6,342
1,846
2423
2,535
7,108
1,247
63
21,746
6,537
1,920
2428
2528
7,022
1,248
63
22,028
6,614
1,980
2446
2,531
7,130
1,261
66
87,589
87,945
89,344
89,683
73,593
3,395
17456
21 574
12291
16,100
2549
73,885
3,347
17878
22,060
11 817
16,009
2,531
74,908
3,395
18288
21,984
11 821
16,656
2,505
75,047
3,309
18428
22,413
11285
16,623
2,745
1801
2299
2532
6,995
1,270
63
72622
3,251
17565
21 250
11 594
15,716
2355
2541
2. Contains goods that cannot be separately identified.
Source: U.S. Department of Commerce, Bureau of Economic Analysis and Bureau of the Census
660
4,134
D-52 • International Data
SURVEY OF CURRENT BUSINESS
January 1998
Table F.2.—U.S. International Transactions
[Millions of dollars]
Not seasonally adjusted
(Credits +; debits-)1
Line
1996
1996
II
64
65
66
67
68
Exports of goods, services, and Income
Goods, adjusted, excluding military2
...
Services3
4
Transfers under U.S. military agency sales contracts
Travel .
.
.
Passenger fares
Other transportation
Royalties and license fees5
Other private services 5
U.S. Government miscellaneous services
Income receipts on U.S. assets abroad
Direct investment receipts
Other private receipts
U.S Government receipts
Imports of goods services, and Income
Goods, adjusted, excluding military2
Services3
Direct defense expenditures
Travel
Passenger fares
Other transportation
Royalties and license fees5
Other private services5
U.S. Government miscellaneous services
Income payments on foreign assets in the United States
Direct investment payments
Other private payments
U.S. Government payments
Unilateral transfers, net
U.S. Government grants4
U.S. Government pensions and other transfers
Private remittances and other transfers6
U.S. assets abroad, net (Increase/capital outflow (-))
U.S. official reserve assets, net7
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies ..
U.S. Government assets, other than official reserve assets, net
U.S. credits and other long-term assets
Repayments on U.S. credits and other long-term assets 8
U.S. foreign currency holdings and U.S. short-term assets, net
U.S. private assets net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns
U.S. claims reported by U.S. banks, not included elsewhere
Foreign assets in the United States, net (Increase/capital inflow (+)) ....
Foreign official assets in the United States, net
U.S. Government securities9
U.S. Treasury securities
Other 10
Other U.S. Government liabilities11
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets 12
Other foreign assets in the United States net .
Direct investment
U.S Treasury securities and U S currency flows
U.S. securities other than U S. Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns
U.S. liabilities reported by U.S. banks, not included elsewhere
Allocations of special drawing rights
Statistical discrepancy (sum of above Items with sign reversed)
Of wWc/7 seasonal adjustment discrepancy
Memoranda:
Balance on goods (lines 2 and 16)
Balance on services (lines 3 and 17)
Balance on goods and services (lines 64 and 65)
Balance on investment income (lines 1 1 and 25)
Balance on goods, services, and income (lines 1 and 15 or lines 66 and
69
70
Unilateral transfers net (line 29)
Balance on current account (lines 1,15, and 29 or lines 68 and 69) 13
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
63a
See footnotes to table F.3.
III
Seasonally adjusted
1996
1997
IV
I
IK
\\\P
II
1997
IV
III
I
IK
III*
1,055,233
261,665
260,424
276,672
278,315
293,478
294,545
262,335
261,979
274,545
279,521
293,868
295,597
612,069
154,198
145,670
160,759
162,812
172,548
165,691
153,411
150,764
157,846
162,527
171,411
170,579
236,764
14,647
57,121
3,961
63,564
3,572
60,669
4,022
59,841
3,190
61,652
3,727
69,075
3,740
58,736
3,961
59,322
3,572
61,656
4,022
61,725
3,190
63,328
3,727
64,410
3,740
69,908
20,557
27,216
17,165
4,769
6,788
21,041
6,104
6,763
16,898
4,916
7,229
16,421
4,976
6,873
18,428
5,302
7,029
22,696
6,513
7,193
17,356
4,952
6,805
17,659
5,237
6,716
18,183
5,282
7,142
18,556
5,319
6,999
18,605
5,511
7,043
18,977
5,571
7,140
29,974
73,569
893
7,170
17,082
187
7,410
18,464
210
8,273
19,124
207
7,389
20,789
203
7,445
19,530
191
7,527
21,217
189
7,345
18,130
187
7,495
18,433
210
7,703
19,117
207
7,699
19,759
203
7,622
20,629
191
7,604
21,189
189
206,400
98,890
102,866
4,644
50,346
24,318
25,053
975
51,190
23,837
25,938
1,415
55,243
27,123
27,232
888
55,663
26,164
28,544
955
59,278
28,380
30,151
747
59,779
27,138
31,643
998
50,188
23,929
25,053
1,206
51,893
24,675
25,938
1,280
55,043
26,898
27,232
913
55,269
25,872
28,544
853
59,129
27,970
30,151
1,008
60,608
28,088
31,643
877
-1,163,450
-289,195
-301,489
-302,337
-300,017
-322,999
-335,255
-289,231
-295,865
-299,493
-310,811
-322,760
-328,549
-603,239
-199,450
-205,518
-210,542
-204,876
-217,230
-225,289
-200,973
-203,257
-206,036
-212,314
-218,545
-222,128
-156,634
-10,861
-40,128
-2,747
-42,415
-2,780
-38,253
-2,727
-38,247
-2,753
-43,073
-2,679
-45,746
-2,700
-38,953
-2,747
-39,345
-2,780
^39,664
-2,727
-41,238
-2,753
-41,839
-2,679
-42,492
-2,700
-48,739
-15,776
-28,453
-13,236
-4,188
-7,222
-14,321
-4,406
-7,380
-10,690
-3,637
-7,203
-10,935
-3,947
-7,191
-14,205
-4,445
-7,514
-15,664
-4,789
-7,686
-12,099
-3,943
-7,253
-11,915
-6,920
-7,218
-12,241
-4,053
-7,166
-13,018
-4,283
-7,378
-13,003
-4,201
-7,542
-13,101
-4,281
-7,518
-7,322
-42,796
-2,687
-1,606
-10,473
-2,154
-10,682
-1,865
-11,451
-1,772
-10,962
-1,758
-11,793
-1,963
-12,262
-1,684
-10,570
-2,144
-10,676
-1,770
-11,027
-1,799
-11,321
-1,847
-11,888
-1,951
-12,259
-203,577
-32,132
-100,103
-71,342
-49,616
-8,184
-24,600
-16,832
-53,556
-9,905
-25,158
-18,493
-53,542
-7,554
-26,135
-19,853
-56,895
-8,175
-27,581
-21,139
-62,696
-10,561
-29,341
-22,794
-64,220
-10,992
-29,759
-23,469
-49,305
-7,873
-24,600
-16,832
-53,263
-9,612
-25,158
-18,493
-63,793
-7,805
-26,135
-19,853
-57,259
-8,539
-27,581
-21,139
-62,376
-10,241
-29,341
-22,794
-63,929
-10,701
-29,759
-23,469
-39,968
-8,122
-9,103
-12,305
-8,604
-8,623
-9,061
-8,689
-8,947
-11,926
-8,682
-6,960
-9,204
-14,933
-4,331
-20,704
-2,423
-5,499
-1,407
-5,399
-2,109
-5,700
-2,245
-1,057
-5,321
-2,252
-4,918
-2,690
-1,188
-5,225
-5,873
-2,423
-1,081
-5,185
-2,690
-1,064
-5,193
-5,499
-1,050
-5,377
-2,109
-1,083
-6,490
-2,245
-1,128
-6,587
-2,252
-1,099
-6,853
-352,444
-51,161
-78,638
-149,829
-130,316
-92,849
-103,146
-49,698
-77,542
-154,436
-127,969
-90,935
-101,564
-657
-781
6,668
-523
370
-1,280
7,578
-133
-220
-170
-690
-358
-4,930
4,134
106
-692
7,489
848
-183
-680
-686
-795
-679
-682
-936
-523
7,489
-139
-463
-133
-220
-170
848
4,480
-146
72
1,055
3,353
-133
-157
-128
-268
-1,613
1,358
-13
482
-1,382
1,872
-8
-28
54
6,824
-141
-284
-1,489
870
261
162
-1,127
1,206
83
-1,238
1,045
-91
-21
-1,107
1,111
-25
-358,422
-87,813
-108,189
-50,280
-25,097
-20,328
-86,289
-12,200
-23,206
-149,230
-26,258
-30,200
-134,775
-28,773
-14,510
-92,345
-68,573
-21,841
-64,234
-98,186
-5,047
192
-17,294
^33,589
-26,115
-66,657
-29,466
-62,026
547,555
106,568
159,231
193,738
122,354
115,634
111,253
4,381
720
4,722
1,278
13,154
-2,125
-3,383
1,258
14,198
1,285
24,089
26,689
25,472
1,217
907
-1,922
-1,585
33,097
35,418
33,564
1,854
160
-4,270
1,789
425,201
76,955
172,878
133,798
93,414
17,894
36,152
29,761
135,142
26,579
50,798
35,115
31,786
9,784
7,288
2,319
-46,927
-692
-730
-515
-236
-657
-183
6,824
-680
-686
-679
-682
-615
4,480
-236
-730
-146
72
1,055
3,353
-133
-139
-463
-128
-28
-141
54
-157
-1,489
870
261
162
-1,127
1,206
83
-1,238
1,045
-91
-21
-1,107
1,111
-25
-1,613
1,358
-13
482
-1,382
1,872
-8
-102,898
-26,243
-37,995
-48,817
-23,634
-20,328
-85,193
-11,104
-23,206
-153,837
^30,865
-30,200
-132,428
-26,426
-14,510
-90,431
-36,659
-21,841
-101,316
-24,661
^7,995
-6,984
-27,947
-15,900
-22,760
-5,047
192
-17,294
-33,589
-26,115
-66,657
-29,466
-62,026
-3,984
-27,947
-15,900
-22,760
181,978
143,508
170,177
106,114
158,629
194,579
182,238
143,015
169,540
28,891
23,940
23,289
651
478
7,698
-3,225
-5,374
-11,464
-12,108
644
654
4,536
900
22,498
9,148
6,485
2,663
16
12,705
629
13,154
-2,125
-3,383
1,258
14,198
1,285
24,089
26,689
25,472
1,217
907
-1,922
-1,585
33,097
35,418
33,564
1,854
160
-4,270
1,789
28,891
23,940
23,289
651
478
7,698
-3,225
-5,374
-11,464
-12,108
644
654
4,536
900
22,498
9,148
6,485
2,663
16
12,705
629
160,641
16,820
75,326
32,447
153,087
30,381
51,289
38,820
148,882
27,101
49,915
51,682
147,679
21,713
43,494
60,770
92,960
17,440
36,152
29,761
134,540
25,977
50,798
35,115
161,482
17,661
75,326
32,447
153,347
30,641
51,289
38,820
148,389
26,608
49,915
51,682
147,042
21,076
43,494
60,770
20,610
2,040
-2,912
38,960
15,210
17,387
-7,916
28,100
7,600
14,102
7,288
2,319
20,610
2,040
-2,912
38,960
15,210
17,387
-7,916
28,100
7,600
14,102
-19,755
-40,424
-5,938
-21,356
-12,515
-17,260
-20,831
-1,076
-38,254
-7,830
-3,269
2,669
-14,297
7,059
-14,228
-1,713
-25,820
-8,560
-191,170
80,130
-111,040
2,824
-45,252
16,993
-28,259
729
-59,848
21,149
-38,699
-2,367
-49,783
22,416
-27,367
1,701
-42,064
21,594
-20,470
-1,232
-44,682
18,579
-26,103
-3,418
-59,598
23,329
-36,269
-4,441
-47,562
19,783
-27,779
863
-52,493
19,977
-32,516
-1,370
-48,190
21,992
-26,198
1,250
-49,787
20,487
-29,300
-1,990
-47,134
21,489
-25,645
^3,247
-51,549
21,918
-29,631
-3,321
-108,216
-39,968
-148,184
-27,530
-8,122
-35,652
-41,066
-9,103
-50,169
-25,666
-12,305
-37,971
-21,702
-8,604
-30,306
-29,521
-8,623
-68,144
-40,710
-9,061
-49,771
-26,896
-8,689
-35,585
-33,886
-8,947
-42,833
-24,948
-11,926
-46,874
-31,290
-8,682
^39,972
-28,892
-8,960
-67,852
-62,952
-9504
-42,156
-204
-358
-204
-284
-268
SURVEY OF CURRENT BUSINESS
January 1998
International Data • D-53
Table F.3.—Selected U.S. International Transactions, by Area
[Millions of dollars]
Western Europe
European Union 14
United Kingdom
1997
1997
1997
(Credits +; debits -) J
Line
IIr
I
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
Exports of goods, services, and Income
Goods adjusted excluding military2
Services3
Transfers under U.S. military agency sales contracts4
Travel .
.
.
. .
Passenger fares
Other transportation
Royalties and license fees5
Other private services 5
U S Government miscellaneous services
Income receipts on U.S assets abroad
Direct investment receipts
Other private receipts
U S Government receipts
Imports of goods, services, and income
Goods, adjusted, excluding military2
Services3
Direct defense expenditures
Travel
Passenger fares
Other transportation
. .
Royalties and license fees5
5
Other private services
U S Government miscellaneous services
Income payments on foreign assets in the United States
Direct investment payments
Other private payments .
U.S. Government payments
Unilateral transfers, net
U S Government grants 4
U.S. Government pensions and other transfers
Private remittances and other transfers6
U.S. assets abroad net (Increase/capital outflow (-))
U.S official reserve assets net7
.
Gold
Special drawing rights
Reserve position in the International Monetary Fund .
Foreign currencies
U.S. Government assets, other than official reserve assets, net
U S credits and other long-term assets
Repayments on U.S. credits and other long-term assets8
U.S. foreign currency holdings and U.S. short-term assets, net
U S private assets net . .
Direct investment
Foreign securities
.
..
.
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns
U.S. claims reported by U.S. banks, not included elsewhere
Foreign assets in the United States, net (Increase/capital inflow (+))
Foreign official assets in the United States net
U.S. Government securities
U.S. Treasury securities9
Other lo
Other U.S. Government liabilitiesn
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets 12
Other foreign assets in the United States net
Direct investment
U S. Treasury securities and U S currency flows
U.S. securities other than U.S. Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns
U.S. liabilities reported by U.S. banks, not included elsewhere
Allocations of special drawing rights
.. .
Statistical discrepancy, and transfers of funds between foreign areas, net
(sum of above items with sign reversed)
Balance on goods (lines 2 and 16)
Balance on services (lines 3 and 17)
Balance on goods and services (lines 64 and 65)
Balance on investment income (lines 11 and 25)
Balance on goods, services, and income (lines 1 and 15 or lines 66 and 67) 13
Unilateral transfers net (line 29)
Balance on current account (lines 1,15, and 29 or lines 68 and 69) 13
82,285
85,940
IIr
I
III*
84,666
74,107
76,451
1997
IK
I
III*
76,476
23,784
24,050
IIr
III*
23,597
38,711
40,599
41,155
38,645
39,866
35,404
35,089
35,147
32,449
9,554
9,327
8,149
20,391
20,776
19,722
19,651
934
21,070
879
24,110
928
17,350
566
18,686
487
21,434
533
5,347
213
5,673
108
6,393
105
8,859
150
9,613
109
11,386
181
2,536
1,008
715
3,620
1,421
757
4,678
1,448
1,942
5,896
1,728
2,002
7,689
2,448
2,107
4,247
1,375
1,557
5,388
1,639
1,593
7,031
2,329
1,684
1,602
358
458
2,023
379
423
2,379
566
434
1,937
821
687
3,711
6,896
42
3,540
6,990
35
3,594
7,303
41
3,542
6,026
37
3,355
6,194
30
3,405
6,417
35
625
2,079
12
630
2,099
11
706
2,191
12
2,162
3,086
15
2,014
3,217
14
2,087
3,303
17
23,990
12,013
11,695
282
25,004
12,442
12,392
170
25,152
11,931
12,946
275
21,668
10,583
10,843
242
22,618
10,967
11,506
145
22,593
10,328
12,034
231
8,883
3,795
5,088
9,050
3,537
5,513
9,055
3,163
5,892
9,462
5,184
4,137
141
10,210
5,783
4,295
132
10,047
5,557
4,354
136
-83,405
-94,876
-94,109
-75,539
-86,504
-85,845
-28,874
-31,843
-31,997
-36,856
-42,988
-41,993
^0,901
-45,115
-42,971
-37,268
•41,220
^39,192
-7,578
-7,949
-8,100
-23,637
-26,620
-24,612
-14,442
-1,780
-17,876
-1,594
-18,784
-1,700
-12,697
-1,415
-15,744
-1,263
-16,739
-1,350
-4,671
-5,438
-5,836
-136
-132
-100
-6,567
-1,168
-7,937
-1,044
-8,337
-1,100
-3,057
-1,752
-2,456
-5,609
-2,338
-2,683
-5,911
-2,529
-2,741
-2,871
-1,593
-1,932
-5,133
-2,102
-2,062
-5,529
-2,287
-2,136
-1,020
-1,450
-1,575
-1,554
-2,738
-631
-565
-899
-514
-925
-578
-679
-967
-828
-920
-1,002
-1,026
-1,213
-3,890
-1,196
-4,168
-1,289
-4,324
-1,035
-3,599
-995
-511
-474
-544
-467
-290
-252
-247
-249
-2,091
-23
-1,679
-288
-1,946
-23
-1,687
-293
-1,785
-23
^465
-1,547
-454
-3,942
-1,108
-4,080
-186
-184
-186
-28,063
-6,311
-13,688
-8,064
45
-102
-281
-31,885
-8,578
-14,475
-8,832
-32,354
-8,056
-14,827
-9,471
63
-201
-306
-29,914
-7,311
-13,861
-8,742
-16,626
-2,666
-9,776
-4,184
-18,456
-3,247
-10,345
-4,864
-18,061
-2,422
-10,477
-5,162
-6,652
-2,344
-2,429
-1,879
-8,431
-3,964
-2,570
-1,897
-9,044
-4,060
-2,791
-2,193
243
288
268
350
374
390
87
110
67
-17
-11
428
527
457
509
581
535
-44
394
-48
422
-44
434
-83,486
-21,851
-41,951
-75,870
-20,810
-28,853
-34,277
-14,108
-11,745
-196
-139
-142
-196
-139
-142
-282
-249
-267
12
-227
189
12
-227
189
141
-35
188
-12
-62
-51
4
-15
170
-35
204
1
-5
109
-14
198
-71
274
-5
-5
4
-83,447
-12,590
-3,366
-21,695
-22,885
4,773
-42,007
-10,479
-19,674
-76,023
-11,023
-2,135
521
-21, 551
4, 397
-29,212
-6,504
-20,218
-34,272
-2,446
-2,013
-14,112
-14,312
1,663
-16,678
-50,813
-5,269
1,686
111,398
85,754
11,034
1,172
157
-86
255
-12
17
( )
17
( )
17
( )
-17
-112
-20,
-16,590
-46,275
-5, 52
2, 185
-2"490
-8,552
-21,261
110,212
103,122
84, 121
103,883
80,358
396
(18)
18)
18)
18
(;*)
"_54
(17)
8
R
n
17
17
284
3
3
73
209
17
R
(17)
(17)
(18)
(18)
84,582
14,755
109,816
12,979
24,223
12,
29,431
30,
(17)
( )
100,364
26,390
17
( )
30,948
12,825
n
«a
94
(18)
17
( )
-368
17
«3
«B
12,560
36,814
18
18
386
41, f67
""'sSiST
18
-3,431
-16,139
-227
189
12
-227
189
1
-17
-17
1
-3, 87
-6;122
1, 11
-16,329
-7,457
-5,037
3,574
6, 104
-7,145
-18,763
M6
T,076
40,075
57, 925
11,978
42, 247
37,090
18)
18)
R
!?
$
21,470
21,027
24,
(18)
-26,837
-55,030
-58,768
-26,062
-53,546
-65,929
-41,341
-18,548
-2,256
5,209
2,953
-4,073
-1,120
45
-1,075
-5,249
3,194
-2,055
-6,881
-8,936
63
-8,873
-7,567
5,326
-2,241
-7,202
-9,443
-50
-9,493
-2,179
4,653
2,474
-3,906
-1,433
243
-1,190
-6,073
2,942
-3,131
-6,922
-10,053
288
-9,765
-6,743
4,695
-2,048
-7,321
-9,369
268
-9,101
1,976
677
2,653
-7,743
-5,090
350
-4,740
1,378
235
1,613
-9,406
-7,793
374
-7,419
(18)
%
5
*3 5 s
a
s
R
&
)
18)
1,
412
17,180
R
18
(18)
(")
-796
roe
18)
(18)
1,488
( )
1,
18)
(18)
18
12
-8
13,684
11,576
33,705
219
-31,031
-31,035
-6,631
1,504
(18)
(18)
(18)
-152
267
-11,745
2,019
-19,868
M
-32
(18)
(18)
-157
231
-8
(18,
(18)
(18)
-77
S
-144
4
R
PI
(18)
3
%
(18)
38,295
-2,959
-29,540
-7,951
-13,523
-8,066
-25,574
-5,521
-12,762
-7,291
-50
-134
-330
* Preliminary.
r
Revised.
1. Credits, +: Exports of goods, services, and income; unilateral transfers to United States; capital inflows (increase in foreign assets (U.S. liabilities) or decrease in U.S. assets); decrease in U.S. official reserve assets; increase in foreign official assets in the United States.
Debits, -: Imports of goods, services, and income; unilateral transfers to foreigners; capital outflows (decrease
in foreign assets (U.S. liabilities) or increase in U.S. assets); increase in U.S. official reserve assets; decrease in
foreign offical assets in the United States.
2. Excludes exports of goods under U.S. military agency sales contracts identified in Census export documents,
excludes imports of goods under direct defense expenditures identified in Census import documents, and reflects
various other adjustments (for valuation, coverage, and timing) of Census statistics to balance of payments basis;
see table 2 in "U.S. International Transactions, Third Quarter 1997" in this issue of the SURVEY.
I
\\\P
European Union (6) 15
18
31 ,238
10,138
11,
6,003
7,
(18)
18
713
-4,952
18
- 314
24, 387
(18)
12,307
18
21 ,581
-37,270
17,111
-36,537
-20,180
49
557
606
-9,006
-8,400
390
-8,010
-3,246
2,292
-5,844
1,676
-4,168
1,779
-2,389
110
-2,279
-4,890
3,049
-1,841
1,003
-954
2,809
1,855
87
1,942
-338
67
-771
3. Includes some goods: Mainly military equipment in line 4; major equipment, other materials, supplies, and petroleum products purchased abroad by U.S. military agencies in line 18; and fuels purchased by airline and steamship
operators in lines 7 and 21.
4. Includes transfers of goods and services under U.S. military grant programs.
5. Beginning in 1982, these lines are presented on a gross basis. The definition of exports is revised to exclude
U.S. parents' payments to foreign affiliates and to include U.S. affiliates' receipts from foreign parents. The definition
of imports is revised to include U.S. parents' payments to foreign affiliates and to exclude U.S. affiliates' receipts
from foreign parents.
6. Beginning in 1982, the "other transfers" component includes taxes paid by U.S. private residents to foreign
governments and taxes paid by private nonresidents to the U.S. Government.
7. For all areas, amounts outstanding September 30,1997, were as follows in millions of dollars: Line 34, 67,148;
line 35,11,050; line 36,9,997; line 37,14,042; line 38, 32,059. Data are preliminary.
D-54 • International Data
January 1998
SURVEY OF CURRENT BUSINESS
Table F.3.—Selected U.S. International Transactions, by Area
[Millions of dollars]
1
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
Canada
1997
1997
(Credits +; debits -) '
Line
2
Eastern Europe
Exports of goods, services, and Income
Goods, adjusted, excluding military2
Services3
Transfers under U.S. military agency sales contracts4
Travel
Passenger fares
Other transportation
Royalties and license fees5
Other private services5
U.S. Government miscellaneous services
Income receipts on U.S. assets abroad
Direct investment receipts
Other private receipts
U S Government receipts
Imports of goods, services, and Income
Goods adjusted excluding military2
Services3
Direct defense expenditures
Travel
Passenger fares
Other transportation
Royalties and license fees5
Other private services5
U.S. Government miscellaneous services
Income payments on foreign assets in the United States
Direct investment payments
Other private payments
U S. Government payments
Unilateral transfers, net
U.S. Government grants 4
U.S. Government pensions and other transfers
Private remittances and other transfers6
U.S. assets abroad, net (Increase/capital outflow (-))
U S official reserve assets net7
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
U.S. Government assets, other than official reserve assets, net
U S credits and other long-term assets
Repayments on U.S. credits and other long-term assets8
U S foreign currency holdings and U S short-term assets net
U S private assets net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns
......
U.S. claims reported by U.S. banks, not included elsewhere
Foreign assets In the United States, net (Increase/capital Inflow (+))
Foreign official assets in the United States, net
U.S. Government securities9 ...
U.S. Treasury securities ..
Other10
Other U.S. Government liabilities11
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreian official assets 12
.
.
.
Other foreign assets in the United States net
Direct investment
U.S Treasury securities and U.S. currency flows
U S securities other than U S Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns
U.S. liabilities reported by U.S. banks, not included elsewhere
Allocations of special drawing rights
Statistical discrepancy, and transfers of funds between foreign areas, net
(sum of above Items with slan reversed)
Memoranda:
Balance on goods (lines 2 and 16)
Balance on services (lines 3 and 17)
Balance on goods and services (lines 64 and 65)
Balance on investment income (lines 11 and 25)
Balance on goods, services, and income (lines 1 and 15 or lines 66 and 67) 13
Unilateral transfers net (line 29)
Balance on current account (lines 1,15, and 29 or lines 68 and 69) 13
Japan
Western
1997
1997
r
1
II
3,108
1,811
881
96
173
20
99
3,403
3,205
47,188
2,110
846
80
227
22
97
1,749
943
61
42
442
9
416
247
100
69
-2,792
36
374
10
447
302
109
36
-3,108
-1,864
-2,009
-580
-722
-79
-212
-52
-80
-2
-142
-14
-348
-3
-99
I
IK
III*
49,685
39,042
5,392
22
47,024
36,823
5,448
24
36,795
5,011
23
293
30
94
1,954
327
726
1,907
307
768
1,601
226
754
33
422
10
343
2,056
17
329
2,043
16
351
2,052
4
513
262
133
118
4,917
2,581
2,336
5,251
2,793
2,458
5,218
2,747
2,471
-3,600
-47,506
-50,077
-48,781
-2,323
-42,004
-43,383
-845
-100
-3,009
-18
-3,781
-14
-420
-619
-1,270
-41,319
-4,659
-15
-2,126
III*
-51
-338
-96
-70
-1
-96
-66
-2
-151
-146
-15
-15
-377
-432
5
-99
8
-246
-283
-119
-321
-653
-687
-771
-292
-359
-433
-9
-8
-10
-352
-318
-330
-3,738
1,044
-2,607
-82
-925
-59
-1,275
-32
-2,493
51,153
55,830
32,425
9,046
95
3,543
979
849
362
3,019
39
12,732
4,192
8,401
139
-51,733
3,551
993
930
60,431
34,444
10,671
110
4,527
1,226
981
28,710
29,516
8,905
114
3,486
1,743
774
3,243
1,627
796
4,1
390
3,050
37
408
3,381
38
1,445
2,135
14
1,5
2,2
14,359
5,450
8,841
68
-54,841
15,316
5,634
9,562
120
-56,425
2,509
1,103
1,399
7
-41,415
1,573
1,919
10
2,562
1,148
1,392
22
-41,837
-44,3
-32,831
-8,081
-85
-34,925
-8,362
-83
-36,046
-30,096
-3,548
-29,317
-30,8
-3,713
-3,708
-121
-965
-145
-935
-742
-589
-617
-672
-689
-659
-790
-190
-982
-70
-1,308
-33
-2,913
-76
-1,329
-33
-28
-2,815
-37
-3,134
-38
-3,404
-326
-978
-110
-111
-111
-2,803
-10,821
-11,554
-11,656
-685
-983
-961
-351
-477
-454
-1,380
-1,277
-529
-550
-565
-7,668
-2,802
-8,240
-2,837
-6,491
-2,711
-102
-102
-2,627
-2,700
-2,785
-111
-276
-140
-342
-161
-2,211
-2,197
-13,440
-40,996
-1
-12,332
16,448
9,753
156
-8,723
-85
-3,737
-74
-102
28
-5,131
9
7,117
11
-28
27
12
5
-13
-328
225
1,057
-748
-578
-577
-368
-577
38
-2,954
1,180
-31
2,243
3,708
-1,667
1,690
(18)
(18)
(18)
(18)
()
(18)
8
(18)
-22
R
&
3
8
-1
1
-12,331
-2,563
2,300
-5,132
-2,914
-2,428
681
-12,749
3,906
682
2,762
-2,552
7,813
-1,430
(17)
(17)
8
!3
(
'^
R
(18)
a
3,224
2,034
73
189
2,924
977
-1,038
-47
18
3,606
2,896
-4,360
-53
301
248
68
315
101
124
225
70
295
-653
-338
-2,612
i°!
( )
33
18
1,419
-687
-392
3,,500
06
-J270
1
-220
315
-3,749
-85
-1
32
(18)
18
$
i?
(<3
i"))
17
( )
7, 17
-2, 335
-4, 309
14, 161
-7, 503
346
-302
-144
-2,339
-58,458
(17)
-13, 384
8,'187
7, )23
-3,754
-257
-293
-865
-182
-1,018
-323
-11,820
49
-18
49
-18
8
3
-1, 376
-21,,526
27, 322
-15,900
-34,200
29,406
155
1,468
26,740
8, 725
13,636
(")
469
18
3', 361
-6, 335
18
21, 589
7,600
18
7,083
-,514
-10, 50
7,4
20, 556
9,0
j'i
J
R
j
-293
»11, 448
...........
(18)
(18)
(18)
(18)
8
R
-22
-154
R
(18)
1,219
(18)
1,
(18)
999
-111
7,
a
9,623
15,385
27,831
-11,346
4,641
-574
-5,181
2,439
-2,742
2,424
-4,341
1,611
-2,730
2,338
-3,315
824
-2,491
1,911
-319
-102
-421
-392
-4,524
352
-4,172
2,415
-1,757
-102
-2,627
-3,207
-2,500
684
-1,816
2,805
989
-2,700
-1,711
-1,602
1,948
346
3,660
4,006
-2,785
1,221
-13,648
6,206
-7,442
-5,262
-12,705
-66
-12,771
-12,760
5,512
-7,248
-6,204
-13,452
-25
-13,477
-74
-1,859
18
24,787
3,5
-1,5
-2,4
67
2,245
-466
3,5
-1,S 208
-2,216
-1,166
-3
-2,623
3
192
-580
-9
-1
-1,1
-23
-2
8,847
81
-2
-22
-44
2,083
-395
-771
-3,9
-9,5
-2,0
-1,6
-5,8
( )
98
2,2
9
1,3
-6,766
-1,408
-1,758
-5,600
-25
1,314
-476
I
-7,771
-1,016
-1,610
-5,145
-66
-256
17
( )
17
1
-1,0
-11, 305
(18)
1
-1,049
-24
8
18)
18)
15,7
-24
-2,680
-1,045
^,258
255
( )
18)
10,6
-58,506
-6,771
-1,635
(18)
17
MB
-41 ,!224
-7,( 324
-11,( 398
8
i.Q
-8, 349
459
28,6
391
1
3, 332
3
28,385
16,557
-344
»
?
(17)
9,243
3,509
-10
-17,( 346
-4, 557
-6,< $2
48
3
311
(
n
386
228
-i219
t137
10
!
<{
17)
17)
17)
III*
III*
-1,279
-101
IIr
I
If
I
3,500
8. Includes sales of foreign obligations to foreigners.
9. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible and nonconvertible
bonds and notes.
10. Consists of U.S. Treasury and Export-Import Bank obligations, not included elsewhere, and of debt securities
of U.S. Government corporations and agencies.
11. Includes, primarily, U.S. Government liabilities associated with military agency sales contracts and other transactions arranged with or through foreign official agencies; see table 4.
12. Consists of investments in U.S. corporate stocks and in debt securities of private corporations and State
and local governments.
Latin America and Othe r
Hemisphere
5.!
3,1
-15,1
6,'
-8,C
-7;
-15,<
-15,e
13. Conceptually, the sum of lines 70 and 62 is equal to "net foreign investment" in the national income and
product accounts (NIPA's). However, the foreign transactions account in the NIPA's (a) includes adjustments to the
international transactions accounts for the treatment of gold, (b) includes adjustments for the different geographical
treatment of transactions with U.S. territories and Puerto Rico, and (c) includes services furnished without payment
by financial pension plans except life insurance carriers and private noninsured pension plans. A reconciliation of
the balance on goods and services from the international accounts and the NIPA net exports appears in Appendix
A of this section of the SURVEY OF CURRENT BUSINESS. A reconciliation of the other foreign transactions in the
two sets of accounts appears in table 4.5 of the full set of NIPA tables (published annually in the August issue
of the SURVEY).
International Data • D-55
SURVEY OF CURRENT BUSINESS
January 1998
Table F.3.—Selected U.S. international Transactions, by Area
[Millions of dollars]
Australia
Line
(Credits +; debits -) '
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
Exports of goods, services, and income
Goods, adjusted, excluding military2
....
Services 3
4
Transfers under U.S. military agency sales contracts
Travel
Passenger fares
Other transportation
Royalties and license fees 5
Other private services 5
U.S. Government miscellaneous services
income receipts on U.S. assets abroad
Direct investment receipts
Other private receipts
U.S. Government receipts
Imports of goods, services, and Income
Goods, adjusted, excluding military2
Services3
.
Direct defense expenditures
<f
Travel .
Passenger fares
Other transoortation
Royalties and license fees3
Other private services5
U S Government miscellaneous services
Income payments on foreign assets in the United States
Direct investment payments
Other private payments
.
U.S. Government payments
Unilateral transfers net
U S Government grants 4
U.S. Government pensions and other transfers
Private remittances and other transfers6
U.S. assets abroad, net (Increase/capital outflow (-))
U S official reserve assets net7
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
U S Government assets other than official reserve assets net
U S credits and other long-term assets
Repayments on U.S. credits and other long-term assets8
U S foreign currency holdings and U S short-term assets net
U.S. private assets net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. claims reported by U.S. banks, not included elsewhere
Foreign assets in the United States, net (Increase/capital inflow (+))
Foreign official assets in the United States net
U.S. Government securities 9
U.S. Treasury securities
Other 10
Other U S. Government liabilitiesn
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets 12
Other foreign assets in the United States, net
Direct investment
U.S. Treasury securities and U.S currency flows
U S securities other than U S Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns
U S liabilities reported by U S banks not included elsewhere
Allocations of special drawing rights
Statistical discrepancy, and transfers of funds between foreign areas, net (sum of
above Items with sign reversed)
Memoranda:
Balance on goods (lines 2 and 16)
.
Balance on services (lines 3 and 17)
Balance on goods and services (lines 64 and 65)
Balance on investment income (lines 11 and 25)
Balance on goods, services, and income (lines 1 and 15 or lines 66 and 67) 13
Unilateral transfers net (line 29)
Balance on current account (lines 1 15 and 29 or lines 68 and 69) 13
II'
III''
I
II'
III*
I
II4,402
4,650
1,458
1,359
1,410
6,174
6,107
56,128
59,659
59,787
2,823
3,095
3,080
36,746
39,453
38,517
1,122
35
1,293
46
1,455
56
12,623
1,831
13,380
2,507
14,786
2,432
392
100
72
480
133
79
620
147
85
2,195
359
2,230
3,124
492
2,250
3,809
607
2,232
181
107
134
141
379
3
159
393
3
162
382
3
962
4,967
79
1,033
3,894
80
1,036
4,588
82
382
895
385
867
391
885
1,374
777
597
1,786
1,169
617
1,572
944
628
6,760
4,087
2,357
316
6,826
3,912
2,597
317
6,484
3,471
2,657
356
2,966
1,165
1,659
142
3,043
1,164
1,745
134
3,240
1,245
1,865
130
-2,074
-1,658
-1,929
-70,072
-75,688
-65,129
-1,019
-914
-948
-1,159
-1,169
-1,290
-56,021
-61,312
-70,537
-743
-567
-659
-7,146
-7,439
-7,537
-697
-572
-591
-513
-632
-505
-2,240
-21
-12
-325
-157
-175
-114
-60
-61
-8
-8
-155
-187
-17
-172
-65
-88
-19
-595
-972
-977
-56
-1,741
-1,811
-2,360
-1,011
-1,854
-357
-235
-247
-54
-22
-1,483
-19
-1,563
-14
-1,595
-115
-225
-104
-233
-116
-228
-322
-342
-357
-2,219
-203
-130
-185
-11
-196
-197
-198
78
213
20
175
-6,905
-6,937
238
-2,530
-4,645
-7,055
-49
-2,495
-4,511
-176
-20
-20
-2,423
-4,306
-22
-19
-3,061
-2,818
-1,213
-1,203
-9
-13
-9
-16
-20
-11
-115
-25
-2,026
-135
-7
-12
-104
-121
-1,727
-16,737
432
429
-744
-726
-1
-1
32
-27
-3,028
-2,115
-2,360
-1,205
-207
-297
-111
-1
-1
-594
-797
-1,092
142
1,153
-2,025
-104
-632
-197
-922
-125
-121
-1,490
-1,702
-1,777
-1,856
-1,966
-10,535
-9,454
2,636
-1,534
-1,236
982
-3
-10,406
-3,198
-2,297
123
-5,034
-9,979
^3,743
-8,789
-11,650
501
2,560
1,874
31,640
(18)
-79
-218
-602
72
1,055
-133
-333
-333
-340
-340
1,842
-1,115
-341
-927
-828
-831
54
133
-3
-139
-463
-293
-293
521
2,553
1,648
56
1,065
-417
21,167
1,012
7,345
4,326
1,012
7,345
-471
-473
4,326
^76
^31
(18)
R
<3
8)
I! a
18)
472
(18)
(18)
'!
a
a
(18)
469
(18)
272
128
-1,81 3
497
-12
-57
-1,139
-921
525
-454
443
-21
-16,769
-5,445
-3,665
24
-7,683
317
-2,295
-226
-112
-129
-614
-390
422
-735
•-44
-28
1,127
18
III*
4,424
5,319
-153
18
','!
*3
?
2,173
"-700
-1,703
-5,028
-5,929
1,664
378
2,042
1,202
3,244
-25
3,219
1,926
726
2,652
1,864
4,516
-22
4,494
1,790
796
2,586
1,592
4,178
-19
4,159
14. The "European Union" includes the "European Union (6)," United Kingdom, Denmark, Ireland, Greece, Spain,
and Portugal. Beginning with the first quarter of 1995, the 'European Union' also includes Austria, Finland, and
Sweden.
15. The "European Union (6)" includes Belgium, France, Germany (includes the former German Democratic Republic (East Germany) beginning in the fourth quarter of 1990), Italy, Luxembourg, Netherlands, European Atomic
Energy Community, European Coal and Steel Community, and European Investment Bank.
16. Includes, as part of international and unallocated, the estimated direct investment in foreign affiliates engaged
in international shipping, in operating oil and gas drilling equipment internationally, and in petroleum trading. Also
1997
1997
I
1
International organizations and
unallocated 16
Other countries in Asia and Africa
1997
12
(18)
(18)
R
J3
ifi
ffl
J3
"8
&
(18)
"171266
2,102
41,032
16,657
-19,275
5,477
-13,798
-21,859
5,941
-15,918
-32,020
7,249
-24,771
880
26,265
-145
-13,944
-3,061
-17,005
18
-111
-16,029
-2,818
-18,847
-571
-25,342
-3,028
-28,370
3
T
2,656
79
-16,941
18
24
1,450
SJ
57
7,786
"4"875
-4,938
-6,939
-4,497
761
761
2,644
3,406
-2,115
1,291
787
787
2,701
3,488
-2,360
1,128
819
2,883
3,702
-2,295
1,407
18
18
'819
includes taxes withheld; current-cost adjustments associated with U.S. and foreign direct investment; small transactions in business services that are not reported by country; and net U.S. currency flows, for which geographic
source data are not available.
17. Details not shown separately; see totals in lines 49 and 56.
18. Details not shown separately are included in line 61.
NOTE.-The data in tables F.2 and F.3 are from tables 1 and 10 in "U.S. International Transactions, Third Quarter
1997" in this issue of the SURVEY OF CURRENT BUSINESS, which presents the most recent estimates from the balance
of payments accounts.
D-56 • International Data
SURVEY OF CURRENT BUSINESS
January 1998
Table FA—Private Service Transactions
[Millions of dollars]
Seasonally adjusted
1995
Line
1996
1996
II
1
Exports of private services
III
1997
IV
I
IIr
111"
204,165
221,224
54,588
55,540
57,427
58,332
59,410
60,481
Travel (table F.2, line 5)
Passenger fares (table F.2, line 6)
Other transportation (table F.2, line 7)
Freight
Port services
Other
63,395
19,125
27,412
11,420
14,810
1,184
69,908
20,557
27,216
11,161
14,691
1,364
17,356
4,952
6,805
2,823
3,639
342
17,659
5,237
6,716
2,747
3,625
343
18,183
5,282
7,142
2,941
3,861
339
18,556
5,319
6,999
2,909
3,720
370
18,605
5,511
7,043
2,919
3,747
377
18,977
5,571
7,140
2,909
3,857
374
8
9
10
11
12
13
14
Royalties and license fees (table F.2, line 8)
Affiliated,
U.S parents' receipts
U.S. affiliates' receipts
Unaffiliated
Industrial processes 1
Other2
27,383
21,670
20,210
1,460
5,713
3,583
2,131
29,974
23,760
21,916
1,844
6,214
3,979
2,235
7,345
5,814
5,436
378
1,531
978
554
7,495
5,929
5,505
424
1,566
1,006
560
7,703
6,091
5,445
646
1,612
1,040
573
7,699
6,033
5,761
272
1,666
1,080
587
7,622
5,915
5,460
455
1,707
1,109
598
7,604
5,869
5,383
486
1,735
1,129
607
15
16
17
18
19
20
21
22
23
24
25
26
27
Other private services (table F.2, line 9)
Affiliated services
U.S. parents' receipts
U.S. affiliates' receipts
Unaffiliated services
,
.
Education
Financial services
Insurance, net
Premiums received
Losses paid
Telecommunications
Business, professional, and technical services
Other Unaffiliated services3
66,850
20,272
12,795
7,477
46,578
7,512
7,029
1,390
5,524
4,133
3,183
17,765
9,699
73,569
22,810
13,763
9,047
50,759
7,807
8,034
2,121
6,179
4,058
3,405
19,247
10,145
18,130
5,571
3,429
2,142
12,559
1,938
1,938
513
1,524
1,011
854
4,734
2,583
18,433
5,777
3,410
2,367
12,656
1,998
1,925
561
1,567
1,006
838
4,847
2,486
19,117
5,840
3,431
2,409
13,277
1,955
2,325
597
1,609
1,012
850
4,985
2,565
19,759
6,103
3,622
2,481
13,656
1,992
2,259
620
1,650
1,030
845
5,287
2,654
20,629
6,426
3,802
2,624
14,203
2,009
2,492
637
1,681
1,044
895
5,543
2,627
21,189
6,670
3,839
2,831
14,519
2,080
2,561
648
1,702
1,054
913
5,640
2,677
134,523
143,086
35,549
35,873
36,257
37,800
38,481
39,110
46,053
14,433
28,249
16,759
10,579
911
48,739
15,776
28,453
16,879
10,792
783
12,099
3,943
7,253
4,414
2,647
193
11,915
3,920
7,218
4,312
2,709
198
12,241
4,053
7,166
4,130
2,838
199
13,018
4,283
7,378
4,318
2,845
214
13,003
4,201
7,542
4,636
2,706
200
13,101
4,281
7,518
4,570
2,749
199
6,503
5,128
448
4,680
1,373
962
411
7,322
5,301
554
4,748
2,021
1,126
895
1,684
1,304
137
1,167
380
279
101
2,144
1,264
136
1,128
880
288
592
1,770
1,376
164
1,212
394
292
103
1,799
1,403
155
1,248
396
291
106
1,847
1,462
172
1,290
385
290
95
1,951
1,537
157
1,380
414
289
125
39,285
13,597
6,820
6,777
25,689
949
2,472
5,383
15,187
9,804
7,773
4,691
4,420
42,796
16,026
7,505
8,521
26,770
1,041
3,184
4,387
15,473
11,086
8,385
5,253
4,520
10,570
3,945
1,788
2,157
6,625
256
781
1,089
3,833
2,745
2,103
1,278
1,119
10,676
4,073
1,935
2,138
6,603
262
769
1,047
3,877
2,830
2,066
1,335
1,122
11,027
4,130
1,867
2,263
6,897
269
859
1,064
3,947
2,884
2,089
1,406
1,210
11,321
4,222
1,973
2,249
7,099
275
888
1,139
4,046
2,907
2,076
1,540
1,180
11,888
4,364
2,139
2,225
7,524
278
1,106
1,195
4,119
2,924
2,137
1,612
1,196
12,259
4,573
2,214
2,369
7,686
285
1,147
1,232
4,168
2,936
2,157
1,648
1,217
-173,560 -191,170
69,642
78,138
-103,918 -113,032
-47,562
19,039
-28,523
-62,493
19,667
-52,826
-48,190
21,170
-27,020
-49,787
20,532
-29,255
^7,134
20,929
-26,205
-51,549
21,371
^0,178
2
3
4
5
6
7
28
Imports of private services
29
30
31
32
33
34
Travel (table F.2, line 19)
Passenger fares (table F.2, line 20)
Other transportation (table F 2 line 21)
Freight
Port services
Other
,
35
36
37
38
39
40
41
Royalties and license fees (table F.2, line 22)
Affiliated
U S parents' payments
U S affiliates' payments
Unaffiliated
Industrial processes!
Other2
42
43
44
45
46
47
48
49
50
51
52
53
54
Other private services (table F 2 line 23) .
Affiliated services
U S parents' payments
U S affiliates' payments
Unaffiliated services
Education
Financial services
Insurance net
Premiums paid
Losses recovered
Telecommunications
Business professional and technical services
Other Unaffiliated services3
55
56
57
Memoranda:
Balance on goods (table F.2, line 64)
Balance on private services (line 1 minus line 28)
Balance on goods and private services (lines 55 and 56)
.
p Preliminary.
r
Revised.
1. Patented techniques, processes, and formulas and other intangible property rights that are
used in goods production.
2. Copyrights, trademarks, franchises, rights to broadcast live events, and other intangible property rights.
3. Other unaffiliated services receipts (exports) include mainly expenditures of foreign govern-
ments and international organizations in the United States. Payments (imports) include mainly
wages of foreign residents temporarily employed in the United States and Canadian and Mexican
commuters in U.S. border areas.
NoiE.-The data in this table are from table 3 in "U.S. International Transactions, Third Quarter
1997" in this issue of the SURVEY OF CURRENT BUSINESS, which presents the most recent estimates from the balance of payments accounts.
SURVEY OF CURRENT BUSINESS
January 1998
International Data • D-57
G. Investment TablesTable G.1.—International Investment Position of the United States at Yearend, 1995 and 1996
[Millions of dollars]
Changes in position in 1996 (decrease (-))
Attributable to:
Position
1995'
Type of investment
Line
Valuation adjustments
Capital
flows
Total
Exchange Other
Price
2
rate
changes changes! changes
(b)
(a)
1
2
Net international investment position of the United States:
With direct investment positions at current cost (line 3 less line 24) ...
With direct investment positions at market value (line 4 less line 25)
3
4
U.S. assets abroad:
With direct investment positions at current cost (lines 5+10+15)
With direct investment positions at market value (lines 5+10+16)
5
6
7
8
9
U.S. official reserve assets
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies
10
11
12
13
14
U.S. Government assets, other than official4 reserve assets
U.S. credits and other long-term assets
Reoavable in dollars
Other5
U.S. foreign currency holdings and U.S. short-term assets
15
16
U.S. private assets:
With direct investment at current cost (lines 17+19+22+23)
With direct investment at market value (lines 18+19+22+23)
17
18
19
20
21
22
23
24
25
Direct investment abroad:
At current cost
.
. . .
At market value
Foreign securities
Bonds
Corporate stocks
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking
concerns.
U.S. claims reported by U.S. banks, not included elsewhere
Foreign assets in the United States:
With direct investment at current cost (lines 26+33)
With direct investment at market value (lines 26+34)
26
27
28
29
30
31
32
Foreign official assets in the United States
U.S. Government securities
U S Treasury securities
Other
Other U S Government liabilities7
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreian official assets
33
34
Other foreign assets:
With direct investment at current cost (lines 35+37+38+39+42+43)
With direct investment at market value (lines 36+37+38+39+42+43) ....
35
36
37
38
39
40
41
42
43
Direct investment in the United States:
At current cost
At market value
U.S. Treasury securities
U S.currency
U.S. securities other than U.S. Treasury securities
Corporate and other bonds
Corporate stocks
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns.
U.S. liabilities reported by U.S. banks, not included elsewhere
f Preliminary.
' Revised.
1. Represents gains or losses on foreign-currency-denominated assets due to their revaluation
at current exchange rates.
2. Includes changes in coverage, statistical discrepancies, and other adjustments to the value
of assets.
3. Reflects changes in the value of the official gold stock due to fluctuations in the market
price of gold.
4. Also includes paid-in capital subscriptions to international financial institutions and outstanding
352,444
352,444
176,061
101,279
11,037
14,649
49,096
-6,668
81,897
79,958
79,178
780
1,939
690
796
846
-50
(c)
(a+b+c+d)
(d)
32,038
39,063
-22,195
-46,339
2,446
8,564
-182,822
-193,823
-870,524
-831,303
121,367
267,858
-21,849
-45,567
-3,964
9,373
447,998
584,108
3,720,729
4,284,540
.
.
.
.
.
.
.
-4,073 .
-15,322
96,698
160,739
-687,702 -195,111
-$37,480 -195,111
3,272,731
3,700,432
Position
1996"
3
-4,581
-4,581
^355
'^370
1,280
-7,578
-725
786
-10,802
-494
-3,224
-34
-1
-1
-33
-106
1
1
-12
13
657
796
834
-48
-139
10,312
15,435
38,294
82,554
80,754
80,012
742
1,800
3,014,773
3,442,474
358,422
358,422
125,948
272,439
-17,742
-41,460
-3,965
9,372
462,663
598,773
3,477,436
4,041,247
884,290
1,311,991
1,054,352
355,284
699,068
307,982
87,813
87,813
108,189
49,403
58,786
64,234
7,375
153,866
118,573
806
117,767
-4,726
-28,444
-7,675
-7,521
-3,954
9,383
86,508
222,618
219,087
42,688
176,399
61,073
970,798
1,534,609
1,273,439
397,972
875,467
369,055
768,149
98,186
-2,180
-11
95,995
864,144
3,960,433
4,337,912
547,555
547,555
89,329
228,795
346
772
-6,410
809
630,820
777,931
4,591,253
5,115,843
678,451
498,906
471,508
27,398
25,225
107,394
46,926
122,354
115,634
111,253
4,381
720
4,722
1,278
4,345
-4,333
-3,802
-1
126,698
111,301
107,451
3,850
719
4,722
9,956
805,149
610,207
578,959
31,248
25,944
112,116
56,882
3,281,982
3,659,461
425,201
425,201
84,984
224,450
-6,409
810
504,122
651,233
3,786,104
4,310,694
654,502
1,031,981
389,383
192,300
999,537
534,116
465,421
232,891
76,955
76,955
155,578
17,300
133,798
121,194
12,604
31,786
5,356
144,822
-14,411
-7,335
74,550
221,661
141,167
17,300
225,950
120,028
105,922
38,644
729,052
1,253,642
530,550
209,600
1,225,487
654,144
571,343
271,535
813.369
9,784
6,511
819.880
-154
-3,161
-531
-i
8,678
H039
721
93,318
346
772
-426
-116
-i"887
-1,887
5,932
-3,273
926
amounts of miscellaneous claims that have been settled through international agreements to be
payable to the U.S. Government over periods in excess of ,1 year. Excludes World War I debts
that are not being serviced.
5. Includes indebtedness that the borrower may contractually, or at its option, repay with its
currency, with a third country's currency, or by delivery of materials or transfer of services.
6. Primarily U.S. Government liabilities associated with military sales contracts and other transactions arranged with or through foreign official agencies.
NOTE.-The data in this table are from table 1 in "International Investment Position of the United States in 1996" in the July 1997 issue of the SURVEY OF CURRENT BUSINESS.
D-58 • International Data
SURVEY OF CURRENT BUSINESS
January 1998
Table G.2.—U.S. Direct Investment Abroad: Selected Items, by Country and by Industry of Foreign Affiliate, 1994-96
[Millions of dollars]
Direct investment position on a
historical-cost te cjc
Capital outflows (inflows (-))
1994
1995
1996
Income
1994
1995
1996
1994
1995
1996
640,320
717,554
796,494
78,018
85,441
91,587
6,760
8,435
6,875
5,873
8,812
8,642
Europe
Of which:
France
Germany
Netherlands
United Kingdom
320,135
360,994
399,632
28,785
45,292
45,274
30,468
41,320
46,183
28,204
38,467
29,558
121,321
32,950
44,226
39,344
122,767
34,000
44,259
44,667
142,560
2,586
2,217
6,331
7,177
5,726
4,373
8,420
4,515
5,221
955
7,140
18,310
1,296
3,107
5,081
8,082
2,728
4,783
6,890
11,384
3,322
4,286
7,991
13,862
Latin America and Other Western Hemisphere
Of which:
Brazil
. . . .
Mexico
115,093
128,252
144,209
19,010
14,753
14,299
16,299
15,221
17,404
18,400
16,169
23,706
15,980
26,166
18,747
3,517
3,674
4,899
2,955
3,064
2,747
4,756
2,497
3,515
1,369
3,879
2,931
Africa
5,606
6,383
7,568
332
873
1,221
1,395
1,861
1,963
Middle East
6,741
7,669
8,743
242
905
1,044
964
1,393
1,458
111,373
125,834
140,402
13,121
15,241
14,752
13,474
18,542
18,937
20,217
36,524
25,003
38,406
28,769
39,593
32
2,384
6,450
1,079
3,789
1,817
2,392
2,379
3,402
4,117
2,979
3,950
3,355
2,981
4,352
22
-384
2,096
124
300
480
67,104
70,229
75,479
1,690
2,437
6,144
7,177
9,730
11,960
211,431
29,588
49,128
10,017
26,781
19,925
29,420
46,572
250,253
32,439
62,151
12,032
33,716
25,242
33,972
50,701
272,564
36,179
69,430
13,603
35,020
29,519
33,543
55,270
23,953
3,764
4,992
819
2,010
2,867
5,993
3,508
42,531
2,871
18,477
1,935
5,286
4,995
4,636
4,330
28,530
3,280
7,835
5,009
2,016
4,513
714
5,163
26,699
4,690
6,839
896
2,177
3,234
3,539
5,324
35,065
4,728
8,877
1,365
4,373
4,494
3,952
7,277
34,975
4,684
10,001
1,004
4,579
4,374
3,429
6,903
Wholesale trade
62,608
67,222
72,462
6,325
8,511
7,048
7,753
9,191
9,272
Banking
26,693
28,123
32,504
1,786
714
1,329
3,785
2,889
3,767
213,175
228,744
257,213
22,982
12,109
28,985
18,302
23,757
27,797
Services
26,734
32,769
36,673
5,613
7,702
3,644
2,796
3,815
3,997
Other industries
32,575
40,213
49,600
5,924
11,113
9,880
2,085
3,002
3,299
All countries, all industries
68,272
85,115
85,560
68,597
87,448
95,067
By country
Canada
Asia and Pacific
Of which:
Australia
japan
International
.
By industry
Petroleum
Manufacturing
Food and Kindred products
Chemicals and allied products
Primary and fabricated metals
Industrial machinery and equipment
Electronic and other electric equipment
Transportation equipment
Other manufactured
Finance (except banking), insurance and real estate
NOTE.— In this table, unlike in the international transactions accounts, income and capital outflows are shown without a current-cost adjustment, and income is shown net of withholding taxes,
In addition, unlike in the international investment position, the direct investment position is valued
at historical cost.
The data in this table are from tables 17 and 18 in "U.S. Direct Investment Abroad: Detail
for Historical-Cost Position and Related Capital and Income Flows, 1996" in the September 1997
SURVEY OF CURRENT BUSINESS.
January 1998
International Data • D-59
SURVEY OF CURRENT BUSINESS
Table G.3.—Selected Financial and Operating Data for Nonbank Foreign Affiliates of U.S. Companies, by Country and by
Industry of Affiliate, 1995
Millions of dollars
Number of
affiliates
All countries, all industries
Net income
Sales
Number of
employees
(thousands)
21,318
2,815,141
2,140,438
124,675
7,377.0
2,023
246,242
231,081
8,313
918.1
10,435
1,567,904
1,176,126
63,083
3,014.5
1,226
1,358
757
999
505
2,393
135,906
219,538
59,468
139,078
132,464
641,348
124,457
234,169
68,550
112,182
60,128
363,372
4,303
6,467
2,315
11,492
7,203
413.9
596.3
198.7
138.8
14,338
928.8
3,256
316,495
191,340
23,419
1,485.2
400
823
48,477
59,115
44,536
61,122
5,073
4,732
299.9
743.6
Africa
502
22,604
20,587
1,845
126.5
Middle East
338
30,231
21,703
4,665
614,555
492,181
24,464
1,747.6
855
1,006
81,055
280,164
63,056
211,821
2,944
4,979
258.7
414.9
99
17,110
7,421
653
428,030
13,981
230.9
By country
Canada
Europe
Of which:
France
Germany
Italy
Netherlands
Switzerland
United Kingdom
Latin America and Other Western Hemisphere
Of which:
Brazil
Mexico
Asia and Pacific
Of which:
Australia
Japan
International
50.6
73.4
11.8
By industry
Petroleum
1,520
272,087
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Industrial machinery and equipment
Electronic and other electric equipment
Transportation equipment
Other manufacturing
8,023
764
1,942
722
1,033
855
469
2,238
779,339
99,571
180,964
35,266
112,921
71,483
124,721
154,413
113,166
53,795
7,064
36,862
159,205
95,395
218,333
172,811
15,695
1,227
7,611
6,443
4,406
11,348
4,376.6
554.4
591.9
195.7
529.4
846.0
697.6
961.5
Wholesale trade
4,878
206,015
367,515
15,124
538.3
Finance (except banking), insurance, and real estate ,
2,742
1,229,643
108,441
30,507
191.0
Services
2,671
114,995
100,035
4,050
779.8
Other industries
1,484
213,062
151,548
7,219
1,260.4
NOTE.-The data in this table are from "U.S. Multinational Companies: Operations in 1995"
in the October 1997 SURVEY OF CURRENT BUSINESS.
D-60 • International Data
SURVEY OF CURRENT BUSINESS
January 1998
Table G.4.—Foreign Direct Investment in the United States: Selected Items, by Country of Foreign Parent and by Industry of
Affiliate, 1994-96
[Millions of dollars]
Direct investment position on a
historical-cost beisis
1994
All countries, all industries
496,539
1995
560,850
1996
630,045
Capital inflows (outflows (-))
Income
1994
1995
1996
1994
1995
1996
46,995
69,414
78,828
21,286
32,029
33,759
By country
Canada
41,959
48,258
53,845
4,960
7,080
5,670
2,996
3,911
3,285
Europe
303,649
357,193
410,425
28,002
55,300
59,809
16,059
22,975
25,806
33,603
40,345
67,210
104,867
38,480
49,269
65,806
126,177
49,307
62,242
73,803
142,607
3,881
7,144
-3,174
8,076
4,500
10,229
-1,789
20,446
10,928
16,283
8,225
18,929
-63
2,256
4,120
7,232
1,722
1,908
5,212
11,006
2,654
2,097
6,294
9,220
26,070
25,240
24,627
4,767
-1,121
131
1,391
1,349
1,557
629
2,412
751
1,980
591
1,078
-8
1,248
-99
-447
88
2
91
81
34
-8
-440
-19
54
54
209
141
805
3,531
3,084
112
3,405
-31
3,106
Of which:
France
Germany
Netherlands
United Kingdom
Latin America and Other Western Hemisphere
Of which:
Brazil
Mexico
97
-470
Africa .
1,230
1,164
717
44
Middle East
6,674
6,008
6,177
161
-298
555
116,956
122,986
134,255
9,061
8,519
13,104
8,080
102,999
7,833
107,933
9,747
118,116
1,101
6,238
504
6,591
2,129
11,930
Asia and Pacific
Of which:
Australia
Japan
-66
-268
985
-113
By industry
Petroleum
32,290
33,888
42,343
1,665
3,152
8,113
1,902
2,970
4,190
189,459
21,411
66,028
14,320
35,196
52,504
213,026
26,898
71,367
14,085
37,638
63,037
234,323
28,089
74,810
18,727
37,093
75,604
19,673
-1,375
10,820
1,982
3,826
4,419
27,849
5,596
11,306
312
3,986
6,648
29,112
2,439
6,880
5,280
-35
14,548
10,788
2,134
4,643
1,165
3,063
15,886
1,709
6,202
1,273
2,316
4,386
17,262
1,780
6,247
1,060
1,739
6,436
Wholesale trade
63,792
66,393
77,937
5,785
6,453
9,799
2,611
3,863
3,548
Retail trade
11,857
12,743
15,008
1,532
1,207
2,140
399
544
496
Depository institutions
27,139
34,076
31,903
3,800
6,566
562
2,837
4,725
2,626
Finance, except depository institutions
41,000
62,369
70,185
3,652
16,681
7,775
831
697
714
Insurance
38,833
50,975
59,566
2,759
4,114
7,739
2,237
1,913
3,048
-623
Manufacturing
Food and Kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery
Other manufacturing
-216
Real estate
31,613
29,704
30,118
259
388
-680
Services
37,045
32,887
38,945
2,303
1,946
8,618
-345
212
396
Other industries
23,511
24,788
29,716
5,570
2,326
4,583
705
1,841
1.418
NOTE.—In this table, unlike in the international transactions accounts, income and capital inflows
are shown without a current-cost adjustment, and income is shown net of withholding taxes. In
addition, unlike in the international investment position, the direct investment position is valued
at historical cost.
-680
62
The data in this table are from tables 16 and 17 in "Foreign Direct Investment in the United
States: Detail for Historical-Cost Position and Related Capital and Income Flows, 1996" in the
September 1997 SURVEY OF CURRENT BUSINESS.
International Data • D-61
SURVEY OF CURRENT BUSINESS
January 1998
Table G.5.—Selected Financial and Operating Data of Nonbank U.S. Affiliates of Foreign Companies, by Country of Ultimate
Beneficial Owner and by Industry of Affiliate, 1995
Millions of dollars
Millions of dollars
Number of
affiliates Total assets
All countries, all industries
12,497
2,383,612
Sales
1,561,879
Net income
15,608
Gross
product
326,955
U.S.
Thousands of exports
of
employees
goods
shipped by
affiliates
4,928.3
136,702
U.S.
imports of
goods
shipped to
affiliates
254,895
By country
Canada
1,285
267,378
141,292
2,446
36,532
703.7
5,402
13,565
Europe
Of which:
France
Germany
Netherlands
Switzerland
United Kingdom
5,363
1,327,437
832,286
14,273
202,361
2,991.0
59,344
86,349
668
1,291
394
603
1,205
232,662
210,408
154,877
229,335
381,241
111,966
161,099
98,084
92,343
264,355
1,053
1,331
2,790
8,101
24,178
37,182
28,013
18,624
71,049
348.2
580.6
334.2
308.3
986.5
14,882
12,308
5,357
6,398
11,728
11,255
27,753
8,730
7,847
14,367
1,078
53,830
52,067
917
13,345
166.6
6,193
10,126
75
265
8,661
9,593
3,903
8,540
89
-20
213
1,798
4.3
35.6
866
661
1,310
2,182
68
(D)
10,495
345
414
25,516
18,121
4,212
598,404
172
3,241
77
. . . .
Latin America and Other Western Hemisphere
Of which:
Brazil
Mexico
Africa
Middle East
Asia and Pacific
Of which:
Australia
japan
United States
Petroleum
.
By industry
...
. .
. .
-137
2,393
20.8
551
723
-198
4,861
46.6
641
4,628
489,928
-5,027
62,558
954.6
63,933
138,425
37,003
519,577
22,209
418,656
-577
4,211
52,000
73.6
-3,621
758.2
877
55,519
1,110
119,942
(D)
17,690
2,851
4,904
638
1,079
44.9
240
104,358
131,889
2,419
30,525
105.7
9,956
19,522
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery
Other manufacturing
2,896
252
331
396
739
1,178
587,049
57,195
191,614
55,979
96,130
186,132
562,151
50,879
131,892
70,086
123,167
186,128
9,824
632
3,903
1,547
176
3,566
156,991
12,229
39,768
17,804
32,163
55,028
2,276.8
228.6
407.1
246.9
541.6
852.6
55,561
2,790
13,778
3,988
18,861
16,144
81,790
3,238
13,582
8,018
29,219
27,734
Wholesale trade
2,228
222,616
466,192
174
39,135
455.5
65,500
148,735
Retail trade
353
47,982
93,624
759
23,951
759.1
1,793
3,742
Finance except depository institutions
874
568,216
45,074
1,392
2,910
45.3
18
25
0
Insurance
167
514,601
88,149
3,570
8,557
148.2
0
Real estate
3,494
96,852
14,184
-2,283
5,574
24.9
9
1
Services
1,250
110,674
59,264
-1,975
23,753
633.0
492
690
995
131,264
101,352
1,729
35,561
479.9
3,372
389
Other industries
D
Suppressed to avoid disclosure of data of individual companies.
NOTE.—The data in this table are from tables A1 and A2 in Foreign Direct Investment in trie
United States: Operations of U.S. Affiliates of Foreign Companies, Preliminary 1995 Estimates.
SURVEY OF CURRENT BUSINESS
D-62 • International Data
January 1998
H. International PerspectivesQuarterly data in this table are shown in the middle month of the quarter.
Table H.1.—International Perspectives
1996
1995
1997
1QQR
Sept.
Oct.
Nov.
Jan.
Dec.
Feb.
Mar.
June
May
Apr.
July
Sept.
Aug.
Oct.
Exchange rates per U.S. dollar (not seasonally adjusted)
Canada (Can.$/US$)
France (FFr/US$)
Germany (DM/US$)
Italy (L/US0)
japan (¥/US0)
Mexico (Peso/US$)
United Kingdom (US$/£)
Addendum:
Exchange value of the U.S. dollar ' ...
1.3725
4.9864
1.4321
16.2945
.9396
6.4467
1.5785
1.3638
5.1158
1.5049
15.4276
1.0878
7.6004
1.5607
1.3694
5.1307
1.5080
15.2048
1.0993
7.5441
1.5593
1.3508
5.1652
1.5277
15.2382
1.1241
7.7345
1.5863
1.3381
5.1156
1.5118
15.1366
1.1230
7.9119
1.6623
1.3622
5.2427
1.5525
15.2844
1.1398
7.8769
1.6639
1.3494
5.4145
1.6047
15.6791
1.1791
7.8289
1.6585
1.3556
5.6536
1.6747
16.5500
1.2296
7.8023
1.6285
1.3725
5.7154
1.6946
16.9121
1.2277
7.9562
1.6096
1.3942
5.7672
1.7119
16.9452
1.2564
7.9059
1.6293
1.3804
5.7482
1.7048
16.8433
1.1919
7.9037
1.6322
1.3843
5.8293
1.7277
16.9454
1.1429
7.9498
1.6449
1.3775
6.0511
1.7939
17.4591
1.1538
7.8679
1.6694
1.3872
6.2010
1.8400
17.9712
1.1793
7.7818
1.6035
1.3872
6.0031
1.7862
17.4322
1.2089
7.7809
1.6013
1.3869
5.8954
1.7575
17.2109
1.2106
7.8708
1.6330
84.25
87.34
87.46
87.99
86.98
88.71
91.01
94.52
95.60
96.39
95.29
95.42
97.48
99.96
98.29
97.07
Unemployment rates (percent, seasonally adjusted)
Canada
France
Germany
Italy
, i
japan
Mexico
United Kingdom
9.6
11.6
9.4
12.0
3.1
6.3
8.2
Addendum:
United States
5.6
9.7
12.3
10.4
12.1
10.0
12.5
10.5
10.0
12.5
10.7
3.4
5.5
7.5
£5
5.2
7.4
5.4
5.2
10.0
12.5
10.8
12.0
9.7
12.5
10.9
9.7
12.5
11.2
9.7
12.5
11.2
12.2
9.3
12.5
11.2
9.5
9.6
12.5
11.2
12.5
11.4
12.4
9.1
12.6
11.4
9.0
12.5
11.5
9.0
12.5
11.6
9.0
12.5
11.7
9.1
12.5
11.8
5.1
7.2
3.3
5.0
6.9
3.3
5.0
6.7
3.3
4.5
6.5
3.3
4.2
6.2
£2
4.2
6.1
3.3
4.2
5.9
3.6
4.0
5.8
3.5
3.9
5.7
3.4
3.8
5.5
121
3.4
3.4
5.3
3.4
3.2
5.2
3.4
3.2
5.2
5.2
5.3
5.3
5.4
5.3
5.2
4.9
4.8
5.0
4.8
4.9
4.9
4.7
53
Consumer prices (seasonally adjusted, 1990=100)
Canada
France
Germany (1991=100)
Italy
japan
Mexico
United Kingdom
111.8
111.6
114.8
128.1
107.0
224.5
118.2
113.5
113.8
116.5
133.2
107.1
301.7
121.1
113.8
114.0
116.8
133.7
107.1
314.2
121.9
114.0
114.3
116.8
133.9
107.2
318.2
121.9
114.5
114.2
116.7
134.4
107.3
323.0
122.0
114.5
114.4
117.0
134.4
107.5
333.3
122.4
114.8
114.7
117.6
134.9
107.5
341.9
122.4
114.9
114.9
118.1
135.1
107.5
347.6
122.9
115.2
115.0
117.9
135.4
107.4
352.0
123.2
115.2
115.0
117.9
135.6
109.1
355.8
123.9
115.3
115.2
118.4
136.0
109.2
359.0
124.4
115.5
115.2
118.6
136.0
109.6
362.2
124.9
115.5
115.0
119.2
136.0
109.5
365.3
124.9
115.7
115.3
119.3
136.1
109.3
368.6
125.7
115.6
115.5
119.0
136.2
109.7
373.2
126.3
115.7
115.5
118.9
Addendum:
United States
116.6
120.0
120.8
121.2
121.5
121.8
122.0
122.3
122.4
122.5
122.5
122.7
122.9
123.1
123.5
123.7
Real gross domestic product (percent change from preceding quarter, seasonally adjusted at annual rates)
1.5
1.5
1.4
.6
3.5
5.1
2.3
2.9
1.0
7
-.6
japan
Mexico
United Kingdom
2.3
2.1
1.9
3.0
1.4
-6.2
2.7
3.8
6.0
4.3
5.7
3.3
3.7
4.1
4.7
3.7
Addendum:
United States
2.0
2.8
43
49
3.3
31
Canada
France
Germany
Italy
See footnotes at the end of the table.
3.7
1.3
1.2
-1.1
4.9
4.1
41
6.5
-11.2
19.4
i653
376.2
126.5
SURVEY OF CURRENT BUSINESS
January 1998
International Data • D-63
Table H.1.—International Perspectives—Continued
1996
1995
1997
1996
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Short-term, 3-month, interest rates (percent, not seasonally adjusted)
Canada
France
Germany
Italy
japan
Mexico
United Kingdom
Addendum:
United States
7.07
6.58
4.53
10.46
1.23
48.24
4.43
3.94
3.31
8.82
4.06
3.75
3.12
8.44
3.49
3.51
3.12
8.02
3.00
3.47
3.19
7.41
3.08
3.44
3.23
7.25
3.11
3.35
3.14
7.23
3.10
3.33
3.19
7.36
3.20
3.36
3.26
7.43
3.41
3.40
3.23
7.13
3.29
3.48
3.17
6.83
3.22
3.43
3.14
6.88
3.51
3.39
3.14
6.89
3.63
3.43
3.26
6.87
3.60
3.41
3.31
6.66
3.76
3.59
3.58
6.65
.59
32.91
.54
27.79
.52
27.68
.52
28.94
.52
26.51
.53
24.60
.55
21.96
.56
22.32
.56
22.37
.58
20.59
.61
21.40
.67
19.40
.59
20.15
.56
20.51
19.91
6.29
6.34
6.32
6.19
6.20
6.37
6.45
6.66
6.95
7.15
7.20
7.25
5.03
4.87
5.05
5.00
5.14
5.17
5.13
4.92
5.07
5.13
4.97
4.95
5.94
5.80
5.50
5.90
1.62
6.68
6.02
5.76
5.94
5.51
5.02
5.15
5.01
Long-term interest rates, government bond yields (percent, not seasonally adjusted)
Canada
France
Germany
Italy
'"•"/
Japan
Mexico
United Kingdom
Addendum:
United States
8.36
7.66
6.80
3.21
7.54
6.51
6.10
8.85
2.98
7.64
6.20
6.10
8.62
2.81
7.00
6.11
5.90
7.78
2.51
6.48
5.79
5.80
7.15
2.44
6.81
5.82
5.70
6.95
2.57
6.99
5.69
5.70
6.76
2.38
6.74
5.39
5.40
6.93
2.40
6.92
5.80
5.60
7.55
2.27
7.09
5.93
5.70
7.37
2.36
6.90
5.96
5.60
7.02
2.55
6.63
5.67
5.60
6.82
2.37
6.30
5.50
5.40
6.38
2.12
6.30
5.65
5.50
6.53
2.01
6.19
5.55
5.50
6.10
1.88
8.25
8.10
8.16
7.87
7.80
7.70
7.74
7.38
7.62
7.76
7.23
7.17
6.96
7.01
6.79
6.57
6.44
6.83
6.53
6.20
6.30
6.58
6.42
6.69
6.89
6.71
6.49
6.22
6.30
6.21
6.03
188.0
151.0
160.2
123.0
201.0
161.0
174.8
138.0
193.0
161.0
176.4
139.0
206.0
160.0
170.2
145.0
200.0
159.0
171.5
149.0
11.79
Share price indices (not seasonally adjusted, 1990=100)
Canada
France
Germany
Italy
japan
Mexico
United Kingdom
Addendum:
United States
179.0
135.0
130.0
114.0
171.0
148.0
145.8
114.0
130.0
103.0
102.4
154.0
118.0
115.6
155.0
116.0
116.7
164.0
121.0
120.3
176.0
125.0
121.9
95.0
63.0
96.0
74.0
92.0
72.0
96.0
73.0
99.0
72.0
69.0
63.0
64.0
63.0
63.0
68.0
70.0
70.0
68.0
65.0
62.0
389.3
147.0
554.8
167.0
567.6
170.0
563.6
173.0
577.3
170.0
589.5
171.0
639.7
176.0
673.7
179.0
657.4
182.0
658.9
179,0
696.1
185.0
781.9
186.0
888.9
190.0
815.3
194.0
933.4
198.0
815.2
203.0
159.0
195.0
197.0
204.0
212.0
213.0
220.0
228.0
227.0
219.0
236.0
249.0
262.0
262.0
267.0
272.0
173.0
128.0
124.9
100.0
180.0
145.0
138.9
119.0
175.0
145.0
145.7
116.0
187.0
149.0
154.4
119.0
1. Index of weighted average exchange value of U.S. dollar against currencies of other G-10 countries. March
NOTE.—All exchange rates are from the Board of Governors of the Federal Reserve System. U.S. interest rates,
1973*100. Weights are 1972-76 Global trade of each of the 10 countries. Series revised as of August 1978. For unemployment rates, and GDP growth rates are from the Federal Reserve, the Bureau of Labor Statistics, and
description and back data, see: 'index of the weighted-average exchange value of the U.S. dollar: Revision" on BEA, respectively. All other data (including U.S. consumer prices and U.S. share prices, both of which have been
page 700 of the August 1978 Federal Reserve Bulletin.
rebased to 1990 to facilitate comparison) are © OECD, December 1997, OECD Main Economic Indicators and are
reproduced with permission of the OECD.
D-64 • International Data
SURVEY OF CURRENT BUSINESS
January 1998
I. Charts.
THE U.S. IN THE INTERNATIONAL ECONOMY
Billion $
COMPONENTS OF CURRENT ACCOUNT BALANCE
82 I 83 I 84 I 85 I 86 I 87 I 88 I 89 I 90 I 91 I 92 I 93 I 94 I 95 I 96 I 97
82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97
Billion $
50
U.S. DIRECT INVESTMENT ABROAD AND
FOREIGN DIRECT INVESTMENT IN THE U.S.
Billion $
120
40-
30FDIUS
20-
10-
-20
-10
82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97
82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97
Billion $
5000
Billion $
300
EXPORTS AND IMPORTS
NET INTERNATIONAL INVESTMENT POSITION
VALUED AT CURRENT COST
4000250-
3000-
Foreign assets in the United States
200-
2000-
U..S. assets abroad
150-
1000Exports
Net investment position
100-
-1000
50
82 l 83 i 84 l 85 l 86 l 87 l 88 l 89 l 90 l 91 l 92 93 94 95 96 97
U.S. Department of Commerce, Bureau of Economic Analysis
82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97
SURVEY OF CURRENT BUSINESS
January 1998
Regional Data •
D-65
Regional Data
J. State and Regional TablesThe tables in this section include the most recent estimates of State personal income and gross state product.
The sources of these estimates are noted.
The quarterly and annual State personal income estimates and the gross state product estimates are available
on diskettes or CD-ROM. For information on personal income, including information on the recent release of
estimates for 1929-57, e-mail reis. remd@bea. doc. gov; write to the Regional Economic Information System,
BE-55, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230; or call 202-6065360. For information on gross state product, e-mail gspread@bea. doc. gov; write to the Regional Economic
Analysis Division, BE-6i, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230;
or call 202-606-5340.
Table J.1.—Quarterly Personal Income for States and Regions
Millions of dollars
Area name
1995
I
United States
6,040,235
II
Percent change »
1996
III
IV
I
II
1997
III
IV
I
II
1996:111996:111
1996:1111996:IV
1996:IV1997:1
1997:11997:11
1.2
1.2
1.9
1.2
408,517
117,084
27,373
192,335
32,509
25,371
13,845
.9
.6
1.0
1.1
1.2
.3
1.1
1.7
1.6
1.6
1.8
1.5
1.7
.7
2.1
2.8
1.5
2.0
1.3
1.5
1.8
1.3
.9
1.1
1.6
1.6
1.0
1.5
Mideast
Delaware
District of Columbia
Maryland ....
New Jersey
New York ...
Pennsylvania
1,186,541 1,194,849 1,203,961 1,216,140 1,237,524 1,251,871 1,264,426 1,280,913 1,304,164 1,317,041
18,424
20,252
18,573
18,823
19,208
19,552
19,842
21,240
20,735
20,809
18,097
18,444
18,629
17,979
17,999
18,011
18,299
18,787
19,086
19,011
135,171
132,435
133,396
140,748
142,657
134,073
137,621
139,245
145,502
147,033
242,202
238,211
239,921
245,984
251,460
235,873
249,308
254,430
259,310
261,436
502,971
507,122
550,884
556,314
500,818
512,336
522,825
527,239
532,396
540,159
300,941
286,012
281,013
283,700
289,126
297,938
293,099
304,145
308,649
311,931
1.0
2.1
1.8
1.1
.9
1.0
1.0
1.3
2.4
.8
1.4
1.2
1.5
1.1
1.8
.4
1.2
2.0
1.9
2.0
1.5
1.0
2.1
.4
1.1
.8
1.0
1.1
Great Lakes
Illinois
Indiana
Michigan
Ohio
Wisconsin
1,011,205 1,016,414 1025335 1,037,991 1,050,678 1,067,473 1,080,212 1,088,807 1,107,534 1,120,394
299,874 '302!507
306,538
320,221
323,827
297,953
311,898
316,298
329,850
334,400
125,260
127,120
125,000
125,840
131,434
133,113
128,813
134,643
136,275
137,988
235,014
228,072
229,862
232,862
227,381
238,849
241,129
242,326
246,708
248,911
254,992
257,084
261,194
272,994
249,836
264,418
247,297
252,041
265,610
270,413
112,884
119,697
114,063
116,480
121,331
122,402
115,086
117,869
124,288
126,100
1.2
1.2
1.3
1.0
1.2
1.4
.8
1.1
1.1
.5
.5
.9
1.7
1.9
1.2
1.8
1.8
1.5
1.2
1.4
1.3
.9
1.0
1.5
452,802
66,542
62,199
124,582
129,909
39,840
13,695
16,035
1.3
1.2
1.2
1.7
1.0
1.1
1.8
1.7
1.0
.8
.9
.9
1.3
1.5
-.1
.7
1.5
1.6
1.5
.4
2.2
2.3
1.2
1.0
1.3
1.4
1.2
1.6
1.2
.7
1.4
1.6
1,315,532 1,330,900 1,346,689 1,366,123 1,384,840 1,409,188 1,427,939 1,443,187 1,473,278 1,492,349
83,247
86,740
80,849
81,643
82,531
84,122
85,655
89,877
89,017
87,568
47,567
44,006
44,711
45,284
46,329
48,005
46,153
50,124
48,436
49,006
334,334
322,062
325,801
330,072
342,159
346,800
351,320
355,118
362,659
368,286
154,451
156,103
158,784
162,162
170,891
172,857
164,063
168,023
179,521
176,972
72,417
77,707
71,560
72,972
74,008
75,075
76,525
78,235
79,910
80,940
81,823
83,917
81,220
82,912
83,053
86,111
85,273
86,892
88,472
89,159
44,797
45,387
46,721
47,627
44,325
46,079
48,188
48,402
49,795
49,258
148,917
156,724
151,505
153,258
158,014
161,859
163,920
166,616
172,915
170,636
69,827
69,009
70,483
71,511
74,607
72,080
73,495
75,377
76,822
77,859
111,021
113,817
114,441
109,635
112,222
116,169
117,626
118,806
121,399
122,963
160,764
162,642
169,444
157,790
159,368
165,259
171,277
175,261
176,702
167,219
32,021
32,392
31,708
31,885
32,659
33,381
32,976
33,603
33,867
34,209
1.3
1.3
.9
1.3
1.7
1.5
1.0
1.2
1.3
1.5
1.3
1.3
1.2
1.1
1.0
.9
1.1
1.2
.7
.9
.4
1.6
1.0
1.0
1.1
.7
2.1
1.7
1.2
2.1
2.4
2.1
1.8
1.8
2.4
1.9
2.2
2.3
.8
1.3
1.0
2.3
1.6
1.4
1.3
.8
1.1
1.3
1.3
1.3
.8
1.0
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont ,
Plains
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
Southeast
Alabama
Arkansas
Rorida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
361,426
104,157
24,630
168,247
28,839
23,121
12,433
396,928
58,230
55,452
108,996
114,669
34,259
11,619
13,702
6,102,138 6,166,454 6,242,674 6,344,946 6,446,004 6,526,017 6,602,689 6,730,234 6,813,131
366,632
105,263
24,975
170,826
29,559
23,507
12.502
401,414
58,654
55,957
110,264
116,225
34,631
11,828
13,854
370,349
106,209
24,979
173,256
29,592
23,684
12,630
405,940
59,339
56,483
111,360
117,492
35,324
11,871
14,072
375,186
107,485
25,282
175,702
30,050
23,853
12,815
411,894
60,349
56,978
113,501
118,622
36,008
12,141
14,295
379,607
109,083
25,590
177,592
30,336
23,971
13,034
422,854
62,444
58,546
116,196
121,011
36,963
12,842
14,853
385,048
110,491
25,984
180,415
30,727
24,270
13,160
430,289
63,330
59,253
118,885
122,784
37,686
13,111
15,239
388,521
111,178
26,251
182,334
31,109
24,341
13,307
436,027
64,071
59,992
120,959
124,035
38,117
13,347
15,505
394,993
112,912
26,669
185,678
31,584
24,743
13,407
440,502
64,608
60,546
122,079
125,633
38,681
13,338
15,617
403,147
116,025
27,066
189,315
31,986
25,111
13,644
446,979
65,628
61,481
122,606
128^420
39,561
13,503
15,780
Southwest
Arizona
New Mexico
Oklahoma
Texas
568,008
86,300
30,231
60,341
392,135
576,315
86,460
30,580
61,041
398,234
584,361
88,345
31,009
61,604
403,402
592,619
89,968
31,304
62,385
408,962
603,099
92,200
31,823
63,239
415,838
613,576
93,851
32,152
64,273
423,301
623,327
95,623
32,367
65,003
430,334
630,151
96,709
32,526
65,541
435,376
645,319
99,120
33,300
66,982
445,917
653,841
101,217
33,596
67,304
451,724
1.6
1.9
.7
1.1
1.7
1.1
1.1
.5
.8
1.2
2.4
2.5
2.4
2.2
2.4
1.3
2.1
.9
.5
1.3
Rocky Mountain
Colorado
Idaho
Montana
Utah
Wyoming
172,902
89,985
21,944
15,891
35,196
9,885
174,647
90,804
22,135
16,029
35,701
9,977
177,649
92,494
22,446
16,250
36,388
10,072
180,764
93,779
22,945
16,456
37,378
10,205
183,459
95,749
23,112
16,566
37,856
10,177
187,084
97,514
23,581
16,788
38,848
10,354
190,154
99,191
23,795
17,017
39,697
10,453
192,566
100,578
23,877
17,213
40,397
10,501
196,424
102,492
24,354
17,292
41,505
10,781
198,677
103,657
24,732
17,533
41,915
10,841
1.6
1.7
.9
1.4
2.2
1.0
1.3
1.4
.3
1.2
1.8
.5
2.0
1.9
2.0
.5
2.7
2.7
1.1
1.1
1.6
1.4
1.0
.6
1,027,694 1,040,967 1,052,169 1,061,958 1,082,884 1,101,474 1,115,412 1,131,570 1,153,389 1,169,511
15,257
14,500
14,548
14,590
14,615
14,826
14,894
14,731
14,789
15,047
752,421
761,430
768,728
775,160
812,716
790,291
803,573
825,321
839,867
851,850
29,352
29,716
29,902
30,067
30,150
30,694
29,669
29,633
30,549
30,169
42,207
36,893
37,503
38,351
39,055
41,286
40,255
43,050
44,029
44,950
67,167
71,934
68,155
69,323
70,580
73,336
74,683
78,279
75,735
77,511
129,663
131,544
132,832
138,424
127,361
135,771
140,830
142,401
146,386
148,481
1.3
.3
1.1
.3
2.2
1.8
1.7
1.4
.5
1.6
.1
2.0
1.4
1.1
1.9
1.0
1.8
1.3
2.3
2.3
2.8
1.4
1.4
1.4
.5
2.1
1.0
1.4
Far West
Alaska
California
Hawaii
Nevada
Oregon
Washington
1. Percent changes are expressed at quarterly rates and are calculated from seasonally-adjusted unrounded data, abroad temporarily by private U.S. firms. It can also differ from the NIPA estimate because of different data sources
NOTE.-The personal income level shown for the United States is derived as the sum of the State estimates, and revision schedules.
o
^
^
* «
Jn •
It differs from the national income and product accounts (NIPA) estimate of personal income because, by definition,
Source: Table 1 in '"Personal Income by State and Region, Second Quarter 1997" in the November 1997 SURVEY
it omits the earnings of Federal civilian and military personnel stationed abroad and of U.S. residents employed OF CURRENT BUSINESS.
D-66 • Regional Data
SURVEY OF CURRENT BUSINESS
January 1998
Table J.2.—Annual Personal Income and Disposable Personal Income for States and Regions
Annual personal income
Area name
1994
United States
Disposable personal income
Percent change!
Millions of dollars
1995
1996
Percent change l
Millions of dollars
1994-95
1995-96
1994
1995
1996
1994-95
1995-96
5,774,806
6,137,875
6,479,914
6.3
5.6
5,036,648
5,343,656
5 593 988
«*,W3<?,9«N)
6.1
4.7
345,430
99,703
23,865
160,247
27,532
22,296
11,787
368,398
105,778
24,966
172,008
29,510
23,541
12,595
387,042
110,916
26,124
181,505
30,939
24,331
13,227
6.6
6.1
4.6
7.3
7.2
5.6
6.9
5.1
4.9
4.6
5.5
4.8
3.4
5.0
295,605
84,190
21,091
135,860
24,522
19,562
10,381
313,755
88,514
22,099
145,105
26,221
20,683
11,132
325,596
91,395
22,963
151,149
27,221
21,247
11,622
6.1
5.1
4.8
6.8
6.9
5.7
7.2
3.8
3.3
3.9
4.2
3.8
2.7
4.4
1,138,137
17,517
17,795
127,014
225,686
479,156
270,969
1,200,373
18,757
18,021
133,769
239,052
505,812
284,963
1,258,684
20,095
18,539
140,068
250,295
530,655
299,031
5.5
7.1
1.3
5.3
5.9
5.6
5.2
4.9
7.1
2.9
4.7
4.7
4.9
4.9
977,624
15,016
15,167
108,911
193,487
407,831
237,212
1,029,807
16,074
15,405
114,640
205,302
429,520
248,867
1,070,910
17,069
15,859
119,139
212,443
447,031
259,369
5.3
7.0
1.6
5.3
6.1
5.3
4.9
4.0
6.2
2.9
3.9
3.5
4.1
4.2
Great Lakes
Illinois
Indiana
Michigan
Ohio ..
Wisconsin
964,118
284,319
119,665
215,266
237,118
107,749
1,022,736
301,718
125,805
229,544
251,041
114,628
1,071,792
318,061
132,001
239,330
262,077
120,325
6.1
6.1
5.1
6.6
5.9
6.4
4.8
5.4
4.9
4.3
4.4
5.0
834,810
245,498
103,684
186,873
206,164
92,591
884,726
260,030
109,145
199,127
217,936
98,488
919,565
271,612
113,693
206,030
225,788
102,442
6.0
5.9
5.3
6.6
5.7
6.4
3.9
4.5
4.2
3.5
3.6
4.0
Plains ....
Iowa ..
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
382,697
56,787
53,088
104,727
109,613
33,218
11,661
13,602
404,044
59,143
56,218
111,031
116,752
35,055
11,865
13,981
432,418
63,613
59,585
119,530
123,366
37,862
13,159
15,303
5.6
4.1
5.9
6.0
6.5
5.5
1.7
2.8
7.0
7.6
6.0
7.7
5.7
8.0
351,357
51,960
49,000
94,081
102,314
30,756
10,602
12,643
373,267
55,617
51,481
100,058
107,573
32,985
11,748
13,805
5.2
4.1
5.5
5.5
6.3
4.9
1.6
2.4
6.2
7.0
5.1
6.4
5.1
7.2
9.5
333,873
49,894
46,463
89,182
96,242
29,308
10,437
12,348
1,255,475
77,344
42,079
306,657
146,103
68,670
78,219
42,507
141,426
66,019
103,989
151,487
30,973
1,339,811
82,067
45,039
328,067
157,875
72,739
82252
45,147
152,601
70,208
111,674
160,141
32,001
1,416,289
86,021
47,584
348,849
168,959
76,885
85,548
47,735
162,602
73,890
116,760
168,300
33,155
6.7
6.1
7.0
7.0
8.1
5.9
5.2
6.2
7.9
6.3
7.4
5.7
3.3
5.7
4.8
5.7
6.3
7.0
5.7
4.0
5.7
6.6
5.2
4.6
5.1
3.6
1,109,304
68,892
37,597
271,419
127,646
60,451
70,548
38,700
123,333
58,661
93,528
130,741
27,788
1,181,959
73,043
40,142
289,716
137,701
63,930
74,106
41,143
133,009
62,097
100,278
138,126
28,667
1,240,754
76,151
42,344
305,142
145,978
67,208
76,592
43,420
141,008
65,038
104,146
144,189
29,539
6.5
6.0
6.8
6.7
7.9
5.8
5.0
6.3
7.8
5.9
7.2
5.6
3.2
5.0
4.3
5.5
5.3
6.0
5.1
3.4
5.5
6.0
4.7
3.9
4.4
3.0
Southwest
Arizona
New Mexico
Oklahoma ,
Texas
541,429
79,868
28,518
58,691
374,353
580,326
87,518
30,781
61,343
400,683
617,538
94,596
32,217
64,514
426,212
7.2
9.6
7.9
4.5
7.0
6.4
8.1
4.7
5.2
6.4
483,571
70,242
25,388
52,010
335,932
518,174
76,887
27,508
54,409
359,370
547,021
82,509
28,661
56,831
379,020
7.2
9.5
8.4
4.6
7.0
5.6
7.3
4.2
4.5
5.5
Rocky Mountain
Colorado
Idaho
Montana
Utah
Wyoming
..
163,203
84,643
20,732
15,137
33,171
9,522
176,490
91,766
22,368
16,157
36,166
10,035
188,316
98,258
23,591
16,896
39,199
10,371
8.1
8.4
7.9
6.7
9.0
5.4
6.7
7.1
5.5
4.6
8.4
3.4
141,204
72,629
18,136
13,275
28,761
8,403
152,796
78,826
19,588
14,258
31,239
8,885
161,621
83,523
20,545
14,792
33,633
9,128
8.2
8.5
8.0
7.4
8.6
5.7
5.8
6.0
4.9
3.7
7.7
2.7
Far West
Alaska
California
Hawaii
Nevada
Oregon
Washinoton
984,317
14,125
722,002
28,469
34,292
63,667
121.762
1,045,697
14,563
764,435
29,593
37,951
68,806
130.350
1,107,835
14,810
807,975
30,072
41,699
73,922
139.356
6.2
3.1
5.9
3.9
5.9
1.7
5.7
1.6
9.9
7.4
6.9
860,656
12,247
632,206
24,640
29,699
54,244
107.621
911,081
12,655
665,609
25,916
32,870
58,879
115.154
955,254
12,778
695,767
26,119
35,718
62,833
122.040
5.9
3.3
5.3
5.2
4.8
1.0
4.5
.8
8.7
6.7
6.0
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
Mideast .
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
!
!
1. Percent change was calculated from unrounded data.
NoTE.-The personal income level shown for the United States is derived as the sum of the
State estimates!^ differs from the national income and product accounts (NIPA) estimate of personal income because, by definition, it omits the earnings of Federal civilian and military personnel
10.7
8.1
7.1
10.9
10.7
8.5
7.0
10.8
9.2
stationed abroad and of U.S. residents employed abroad temporarily by private U.S. firms. It can
the NIPA estimate because of different data sources and revision schedules.
S° ^ ™es 1 and 3 in "State Personal Income, Revised Estimates for 1958-96" in the
October 1997 SuRVEY OF
CURRENT BUSINESS.
als differ
° ur :from
Regional Data • D-67
SURVEY OF CURRENT BUSINESS
January 1998
Table J.3.—Per Capita Personal Income and Per Capita Disposable Personal Income for States and Regions, 1994-96
Per capita disposable personal income!
Per capita personal income *
Dollars
Area name
1994
United States
Rank in U.S.
1995
22,180
23,348
24,426
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
26,040
30,462
19,277
26,522
24,250
22,383
20,299
27,688
32,341
20,157
28,332
25,700
23,738
21,538
28,989
33,875
21,011
29,792
26,615
24,572
22,470
Mideast
Delaware
District of Columbia
Maryland
...
New Jersey
New York
Pennsylvania
25,613
24,748
31,327
25,405
28,547
26,332
22,471
26,968
26,159
32,499
26,547
30,071
27,806
23,628
28,242
27,724
34,129
27,618
31,334
29,181
24,803
Great Lakes
Illinois
Indiana
Michiaan
Ohio
Wisconsin
22,342
24,230
20,811
22,692
21,368
21,192
23,575
25,590
21,702
24,066
22,547
22,379
Plains
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
21,005
20,049
20,819
22,904
20,779
20,435
18,229
18,783
Southeast .
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina
Tennessee
Virginia
West Virginia
Dollars
1994
1996
1996
1995
Rank in U.S.
1996
1996
19,345
20,327
21,087
22,284
25,722
17,036
22,486
21,599
19,638
17,878
23,582
27,063
17,842
23,901
22,836
20,856
19,036
24,387
27,913
18,469
24,810
23,416
21,457
19,743
6
2
4
17
22,000
21,215
26,702
21,784
24,474
22,412
19,672
23,136
22,417
27,780
22,751
25,826
23,612
20,635
24,028
23,549
29,195
23,491
26,595
24,583
21,514
6
2
4
15
24,575
26,848
22,601
24,945
23,457
23,320
7
28
16
21
22
19,346
20,922
18,032
19,699
18,579
18,211
20,394
22,054
18,828
20,877
19,574
19,228
21,084
22,928
19,466
21,474
20,209
19,854
8
32
17
21
25
22,018
20,802
21,929
24,061
21,949
21,385
18,495
19,165
23,414
22,306
23,165
25,663
23,022
22,917
20,448
20,895
30
23
11
25
27
38
37
18,325
17,616
18,221
19,504
18,244
18,030
16,315
17,051
19,147
18,276
19,114
20,388
19,234
18,763
16,526
17,331
20,211
19,503
20,015
21,482
20,075
19,966
18,255
18,849
31
23
16
22
24
38
35
20,003
18,349
17,142
21,959
20,686
17,949
18,135
15,931
19,979
18,138
20,120
23,129
16,998
21,076
19,327
18,126
23,129
21,901
18,860
18,960
16,745
21,188
19,146
21,284
24,208
17,532
22,016
20,131
18,959
24,226
22,977
19,797
19,664
17,575
22,205
19,977
21,949
25,212
18,160
39
47
20
26
42
43
50
32
40
33
14
49
17,674
16,344
15,316
19,436
18,072
15,801
16,356
14,504
17,423
16,116
18,096
19,961
15,250
18,593
17,202
16,155
20,425
19,102
16,576
17,083
15,260
18,467
16,934
19,113
20,880
15,706
19,288
17,821
16,872
21,190
19,852
17,305
17,605
15,986
19,256
17,584
19,577
21,600
16,179
39
45
19
26
42
40
50
33
41
30
14
49
19,739
19,562
17,187
18,039
20,308
20,673
20,329
18,215
18,731
21,311
21,614
21,363
18,803
19,544
22,282
35
48
45
31
17,630
17,205
15,301
15,985
18,224
18,459
17,860
16,278
16,614
19,114
19,146
18,633
16,727
17,217
19,815
36
48
44
27
Rocky Mountain
Colorado
Idaho
Montana
Utah
Wyoming
20,286
23,109
18,243
17,672
17,334
20,013
21,467
24,487
19,181
18,563
18,468
20,941
22,490
25,704
19,837
19,214
19,595
21,544
41
46
44
34
17,552
19,829
15,959
15,499
15,029
17,661
18,585
21,034
16,798
16,382
15,952
18,542
19,302
21,849
17,276
16,821
16,812
18,961
12
43
46
47
34
Far West
Alaska
California
Hawaii
Nevada
22,867
23,487
23,022
24,278
23,422
20,575
22,755
24,052
24,170
24,217
25,095
24,748
21,851
23,927
25,173
24,398
25,346
25,404
26,011
23,074
25,187
19
13
12
9
24
15
19,994
20,364
20,158
21,012
20,285
17,530
20,112
20,955
21,002
21,087
21,978
21,435
18,698
21,138
21,706
21,050
21,826
22,065
22,280
19,612
22,057
20
13
10
9
29
11
Southwest ...i
Arizona
New Mexico
Oklahoma
Texas
Washington
.
. . ..
1. Per capita personal income and per capita disposable personal income were computed using
midyear population estimates of the Bureau of the Census.
NOTE—The personal income level shown for the United States is derived as the sum of the
State estimates. It differs from the national income and product accounts (NIPA) estimate of per-
i
36
3
8
18
29
5
ifo
i'
37
3
7
18
28
5
sonal income because, by definition, it omits the earnings of Federal civilian and military personnel
stationed abroad and of U.S. residents employed abroad temporarily by private U.S. firms. It can
also differ from the NIPA estimate because of different data sources and revision schedules.
Source: Tables 2 and 4 in "State Personal Income, Revised Estimates for 1958-96" in the
October 1997 SURVEY OF CURRENT BUSINESS.
D-68
SURVEY OF CURRENT BUSINESS
• Regional Data
January 1998
Table J.4.—Gross State Product for States and Regions by Industry, 1994
[Millions of dollars]
State and region
Rank of
total
gross
state
product
Total
gross
state
product
Farms
Agricultural
services,
forestry,
and
fishing
Manufacturing
Mining
Construction
6,835,641
82,197
35,651
90,058
1,182
280
221
296
94
56
234
1,915
504
267
777
138
147
82
237
,
389,259
110,449
26,069
186,199
29,393
23,867
13,282
4,504
221
0
4,012
75
2,355
45,626
Delaware
District of Columbia .
Maryland ,
New Jersey ....
New York
Pennsylvania
1,327,798
26,697
48,028
132,703
254,945
570,994
294,431
889
428
1,399
1,805
864
1,221
1,229
4
7
111
152
428
1,653
1,111,598
332,853
138,190
240,390
274,844
125,321
11,265
3,515
1,839
1,486
2,121
2,302
4,418
1,321
531
887
1,039
640
4,459
455,013
68,298
61,758
124,641
128,216
41,357
13,494
17,250
17,428
4,238
2,529
2,822
1,751
3,160
1,286
1,642
2,562
553
348
534
563
308
84
173
2,466
1,478,627
20,175
1,512
2,035
3,399
2,491
1,867
882
1,256
3,420
724
1,242
1,147
200
7,841
21,509
460
315
1,184
382
711
752
2,941
3,541
39,652
673
178
311
2,702
United States ,
New England
Connecticut
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
Great Lakes
Illinois
Indiana ....
Michigan
Ohio!
Wisconsin
Plains .
Iowa.,
Minnesota
Missouri
Nebraska
North Dakota.,
South Dakota .
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
50,575
317,829
183,042
86,485
101,101
50,587
181,521
79,925
126,539
177,708
34,654
North Carolina..
South Carolina
Tennessee
Virginia
West Virginia
601
479
13
610
2,735
768
442
369
287
786
363
476
737
101
38
12
113
29
14
31
1,273
753
938
1,238
258
156
815
507
356
98
349
185
9,995
356
229
158
347
1,074
3,380
Southwest
Arizona
New Mexico .
Oklahoma
Texas
677,888
94,093
37,832
66,189
479,774
8,347
810
564
1,591
5,381
2,379
32,555
Rocky Mountain ,
Colorado ,
Idaho .
Montana
Utah
Wyoming .
198,132
99,767
24,185
16,862
41,657
15,660
3,989
1,180
1,260
835
418
1,120
8,816
1,197,326
22,720
875,697
36,718
43,958
74,366
143,867
15,306
18
11,171
282
142
1,481
2,212
10,241
Far West,
Alaska
California
Hawaii
Nevada
Oregon
Washington
45
297
506
276
135
123
79
356
7,189
198
178
734
1,586
1,114
3,281
1,660
169
837
1,484
4,666
10,563
4,238
4,459
26
1,438
96
306
Total
Nondurable goods
Transportation
and
public
utilities
Finance,
insurance,
and real
estate
Wholesale
trade
Retail
trade
609,908 1,273,678 1,342,720
Services
Federal
civilian
government
Federal
military
government
State and
local
government
269,232 1,197,098
673,139
523,959
606,354
461,863
182,651
79,948
604,284
66,134
18,612
4,639
30,387
6,053
4,148
2,296
43,392
12,231
2,200
20,245
4,336
2,776
1,605
22,743
6,381
2,439
10,142
1,718
1,372
27,786
7,744
1,864
12,883
2,327
1,739
1,229
25,962
7,328
1,510
13,237
1,742
1,274
872
33,195
8,813
3,159
14,784
2,913
2,204
1,323
92,056
30,138
4,742
42,919
6,502
5,456
2,299
88,578
22,939
4,816
47,245
5,723
5,151
2,704
6,712
2,084
30,258
1,510
827
3,134
448
477
317
579
342
678
67
354
65
2,528
13,804
2,326
2,026
85,106
1,486
153
5,676
12,144
35,556
30,091
98,129
114,721
5,766
24,698
34,790
27,850
2,596
11,144
25,750
46,605
27,272
86,894
1,046
577
8,199
23,374
35,683
18,014
100,291
1,513
1,367
11,787
19,096
40,005
26,523
321,733
10,414
6,888
29,253
57,125
164,081
53,972
294,563
3,419
15,636
29,531
54,124
129,468
62,385
46,598
358
16,102
9,956
4,186
8,443
7,553
7,278
16,661
11,852
183,235
5,397
1,267
11,442
36,841
70,346
57,941
45,155
14,086
6,493
8,584
10,583
5,409
284,542
62,441
41,843
71,415
73,887
34,956
188,314
35,277
29,115
54,414
48,605
20,903
96,229
27,164
12,728
17,001
25,282
14,053
90,978
31,940
11,407
16,156
22,592
8,882
77,674
26,639
8,382
16,373
18,534
7,745
97,284
27,549
12,734
19,958
25,922
11,120
179,209
63,253
18,448
36,385
41,404
19,719
198,663
66,853
21,325
42,288
47,899
20,298
19,212
6,357
2,725
2,814
5,225
2,091
4,025
19,202
2,700
2,402
5,318
5,823
1,714
588
657
88,359
16,699
10,727
24,950
27,017
6,031
979
38,916
6,924
5,090
10,440
12,540
2,944
41,979
5,966
5,956
11,134
12,493
3,488
1,291
1,652
69,161
9,632
7,831
21,869
18,734
5,937
1,673
3,487
79,879
10,090
10,003
23,882
24,172
6,724
2,302
2,706
10,786
1,263
1,584
2,361
3,549
1,104
358
567
4,102
445
534
43,306
5,388
7,444
9,564
13,476
4,559
1,496
1,378
34,207
1,956
49,443
9,775
5,638
14,510
14,477
3,088
534
1,422
60,747
3,496
1,846
14,592
6,707
3,429
4,476
1,855
7,078
3,473
4,677
7,443
1,675
282,972
19,398
12,578
26,612
32,576
23,221
17,417
11,854
53,629
21,787
30,611
27,435
5,854
126,435
9,593
6,757
15,079
13,383
12,545
4,311
7,015
19,739
8,403
16,049
11,047
2,514
156,537
9,805
5,820
11,533
19,192
10,676
13,107
4,839
33,890
13,384
14,562
16,389
3,341
143,740
8,821
6,196
29,914
21,865
8,305
11,059
6,228
14,315
6,399
10,646
15,425
4,567
97,808
5,515
3,077
22,644
16,355
4,770
5,784
2,840
11,692
4,367
9,232
9,694
1,836
144,130
8,926
5,193
35,783
16,714
7,651
8,717
5,008
16,338
8,043
13,881
14,820
3,057
226,278
10,860
5,637
68,123
28,563
9,514
13,260
5,680
23,465
10,297
16,217
30,823
3,838
263,453
14,045
7,272
72,639
31,980
12,471
16,738
7,597
26,345
11,632
23,663
33,594
5,477
45,781
4,173
1,179
6,669
5,667
2,683
1,841
1,522
3,148
1,864
4,450
11,646
31,101
28,989
5,116
1,781
2,069
20,024
105,712
13,973
5,117
11,060
75,562
61,747
11,155
4,422
6,615
39,555
43,964
2,817
46,743
5,677
62,877
10,034
4,445
36,007
7,281
53,216
35,369
6,663
42,630
120,958
18,155
6,595
10,788
85,419
9,967
1,645
4,051
98,977
17,115
5,130
8,203
68,529
17,331
2,538
695
72,514
8,345
3,672
2,500
10,502
6,456
10,271
5,234
1,536
758
2,151
591
24,790
12,299
4,61;
1,317
5,891
670
15,011
7,197
3,030
763
3,806
215
9,779
5,102
1,583
555
2,086
455
22,017
11,014
2,181
2,152
4,008
2,662
11,869
6,341
1,456
1,049
2,532
492
19,563
10,039
2,502
1,714
4,268
1,040
29,743
16,825
3,092
2,261
5,905
1,661
37,142
20,626
3,771
3,061
8,221
1,464
7,215
3,034
3,42760
742
1,901
388
1,885
268
266
412
202
46,084
1,038
29,222
2,151
3,090
3,447
7,137
161,354
1,149
121,842
1,128
2,002
14,81
20,418
103,692
317
76,608
296
1,269
11,260
13,942
57,662
833
45,234
832
733
3,554
6,476
91,293
3,835
63,122
3,475
3,376
5,909
11,576
80,707
672
59,860
1,4t"
1,990
5,888
10,882
110,589
1,539
79,662
4,063
4,084
6,773
14,467
256,519
2,480
199,078
8,584
8,058
12,464
25,856
259,485
2,653
193,3V
7,586
14,967
13,248
27,716
29,015
18,357
13,158
3,646
1,142
5,943
1,031
822
574
6,536
9,261
NOTE.—Totals shown for the United States differ from the NIPA estimates of gross domestic product (GDP) because State data exclude the statistical discrepancy (the difference between GDP and gross domestic income), the
compensation of Federal civilian and military personnel stationed abroad, and government consumption of fixed capital for military structures located abroad and for military equipment, except office equipment; they may also differ
from the GDP estimates because of differences in revision schedules.
Durable
goods
3,911
1,114
1,354
4,718
4,545
10,061
9,406
3,147
1,255
1,076
3,551
273
1,166
2,117
832
1,804
1,087
1,686
479
527
1,032
300
191
1,347
306
892
587
494
288
1,411
411
4,573
3,519
1,803
1,320
1,064
4,882
2,273
694
9,009
142
1,791
1,200
834
1,476
1,113
1,094
18,900
11,187
2,623
1,745
840
2,020
4,397
435
223
2,795
8,319
1,256
115,987
1,733
1,981
11,416
22,862
54,850
23,145
94,713
25,938
11,229
22,580
23,366
11,600
41,575
6,706
6,227
11,334
9,985
4,500
1,341
1,483
133,092
8,861
4,455
29,435
15,085
7,387
9,241
5,039
16,194
8,545
10,403
14,860
3,587
62,281
9,343
4,272
6,915
41,750
18,564
8,736
2,301
1,734
4,346
1,447
107,814
2,535
76,691
3,442
3,358
7,269
14,519
Sources: Tables 9 and 10 in "Comprehensive Revision of Gross State Product by Industry, 1977-94" in the June
1997 SURVEY OF CURRENT BUSINESS.
Regional Data •
SURVEY OF CURRENT BUSINESS
January 1998
D-69
K. Local Area Table.
Table K.1.—Personal Income and Per Capita Personal Income by Metropolitan Area, 1993-95
Per capita personal income3
Personal income
Area name
Millions of dollars
Percent
change2
1994
1994-95
1993
United States *
Metropolitan portion
Nonmetropolitan portion
1995
5,471,129 5,739,851 6,097,977
4,627,255 4,850,244 5,162,277
843,874 889,607 935,700
Consolidated Metropolitan
Statistical Areas
Chicago-Gary-Kenosha, IL-IN-WI ...
Cincinnati-Hamilton, OH-KY-IN
Cleveland-Akron, OH
Dallas-Fort Worth TX
Denver-Boulder-Greeley, CO
Detroit-Ann Arbor-Flint, Ml
Houston-Galveston-Brazoria, TX ....
Los Angeles-Riverside-Orange
County, CA
Miami-Fort Lauderdale, FL
Milwaukee-Racine, Wl
New York-No. New Jersey-Long Island, NY-NJ-CT-PA
Philadelphia-Wilmington-Atlantic
City, PA-NJ-DE-MD
Portland-Salem, OR-WA .
Sacramento-Yolo, CA
San Francisco-Oakland-San Jose,
CA
Seattle-Tacoma-Bremerton, WA .....
Washington-Baltimore, DC-MD-VA-
wv ;.
Rank in
Dollars
1993
1994
1995
6.2 21,223 22,044 23,196
6.4 22,481 23,327 24,594
5.2 16,239 16,959 17,658
220,224
42,522
67,827
105,222
54,925
131 581
97^330
234,889
45,310
72,102
113633
59,361
140169
104^073
6.7 24,869 25,906 27,481
6.6 21,559 22,436 23,752
6.3 22,388 23,350 24,792
8.0 23006 24034 25418
8.1 24,211 25,084 26,581
65 23139 25117 26646
e'.9 23i048 23',693 24',910 !!!!!!!!!!
331,389
71,826
37,629
337,711
74,618
39,592
357,571
80,095
42,025
5.9
7.3
6.1
21,822 22,122 23,290
21,514 21,965 23,155 "I!!!!!
23,036 24,182 25,636
564,130
585,058
619,024
5.8
28,691 29,654 31,280
147,099
41,382
33,416
151,972
44,382
35,017
160,677
48,170
37,534
5.7
8.5
7.2
24,743 25,497 26,921
21,236 22,308 23,719
21,212 22,052 23,332
181,386
77,103
187,916
80,757
201,544
85,826
7.3
6.3
28,055 28,901 30,802
24,214 25,062 26,231
EiE
185,306
194,456
204,023
4.9
26,550 27,584 28,706
Metropolitan Statistical Areas4
Abilene TX
Akron, OH*
Albany GA
Albany-Schenectady-Troy, NY
Albuquerque, NM
Alexandria, LA
Allentown-Bethlehem-Easton, PA ...
Altoona, PA
Amarillo, TX
Anchorage, AK
2,117
13,869
1,915
19,396
12,071
2,177
13,250
2,287
3,673
6,616
2,153
14,691
2,063
20,365
13,056
2,332
13,794
2,379
3,916
6,921
2,299
15,620
2,199
21,004
14,188
2,456
14,580
2,495
4,188
7,015
6.8
6.3
6.6
3.1
8.7
5.3
5.7
4.9
7.0
1.4
17,407
20,663
16,507
22,194
19,145
17,399
21,754
17,338
18,801
26,465
17,720
21,828
17,711
23,082
20,175
18,492
22,554
17,963
19,664
27,484
18,708
23,103
18,849
23,837
21,452
19,352
23,801
18,891
20,464
27,914
254
92
246
73
142
224
74
244
177
22
Ann Arbor, Ml*
Anniston AL
Appletonktehkosh-Neenah, Wl
Asneville, NC
Athens, GA
Atlanta, GA
Atlantic-Cape May NJ*
Augusta-Aiken, GA-SC
Austin-San Marcos, TX
Bakersfield, CA
12,251
1,846
6,735
3,920
2,276
75,166
8,192
8,114
18,737
10,073
13,472
1,916
7,178
4,095
2,416
80,871
8,502
8,429
20,331
10,218
14,508
2,024
7,672
4,391
2,606
87,956
8,964
8,809
22,338
10,860
7.7
5.6
6.9
7.2
7.8
8.8
5.4
4.5
9.9
6.3
24,101
15,859
20,497
19,491
17,390
23,260
24,973
18,297
20,048
16,798
26,255
16,989
21,596
20,050
18,094
24,229
25,768
18,790
20,977
16,711
27,829
17,840
22,810
21,181
19,320
25,563
27,020
19,451
22,185
17,625
24
289
102
154
228
42
29
222
123
291
Baltimore, MD*
Bangor, ME (NECMA)
Barnstable-Yarmouth, MA
(NECMA)
Baton Rouge, LA
Beaumont-Port Arthur, TX
Bellingham, WA
Benton Harbor, Ml
Bergen-Passaic, NJ*
Billings MT
Biloxi-Gulfport-Pascagoula, MS
56,912
2,518
59,799
2,601
62,556
2,728
4.6
4.9
23,282 24,326 25,347
17,228 17,777 18,747
44
252
4870
10J492
6,711
2,593
3,073
40,789
2,361
5,374
5,106
11^233
6,951
2,789
3,257
42,024
2,515
5,852
5492
11 £19
7,348
2,953
3,442
44,345
2,662
6,104
76
5.7
5.9
5.7
5.5
5.8
4.3
25286
18i962
17,973
18,198
19,018
31,489
19,543
16,315
2609C
20^114
18,567
19,097
20,193
32,291
20,472
17,339
27568
2l!l59
19,541
19,775
21,284
33,931
21,345
17,856
25
156
221
210
150
4
146
288
Binghamton, NY
Birmingham, AL
Bismarck, ND
Bloomington IN
Bloomington-Normal, IL
Boise City, ID
Boston-Worcester-Lawrence-LowellBrockton, MA-NH (NECMA)
Boulder-Longmont, CO*
Brazoria, TX*
Bremerton, WA*
5,071
17,846
1,627
1,939
2,797
6,932
5,172
18,960
1,697
2,029
3,056
7,629
5,269
20,283
1,814
2,147
3,213
8,330
1.9
7.0
6.9
5.8
5.1
9.2
19,165
20,644
18,634
17,196
20,722
20,711
19,727
21,547
19,255
17,844
22,417
21,885
20,446
22,830
20,342
18,603
23,229
23,052
178
99
182
261
90
94
146,890
6,221
3,775
4,108
153,749
6,632
3,970
4,293
164,718
7,114
4,240
4,529
7.1
7.3
6.8
5.5
25,773
25,451
18,112
19,292
26,832
26,555
18,662
19,802
28,564
27,978
19,59$
20,004
17
20
218
197
3,259
1,877
24,140
3,864
7,625
1,414
3,835
3,125
8,879
5,201
3,476
1,985
25,509
4,018
8,052
1,469
4,094
3,235
9,168
5,434
3,682
2,086
26,766
4,280
8,535
1,550
4,363
3,390
9,447
5,744
5.9
5.1
4.9
6.5
6.0
5.5
6.6
4.8
3.0
5.7
11,246
14,524
20,254
21,053
19,014
22,476
21,928
18,442
16,919
20,465
11,610
15,187
21,475
21,518
20,054
22,978
23,184
19,518
17,769
21,352
11,960
15,872
22,645
22,687
21,222
24,248
24,448
20,376
18,840
22,562
313
306
109
105
152
65
61
181
247
112
26,536
3,172
8,461
1,570
193,676
3,225
34,473
2,694
50,869
28,472
3,318
8,887
1,597
202,969
3,317
36,084
2,854
53,136
30,989
3,512
9,453
1,664
216,553
3,482
38,428
3,053
56,482
8.8
5.8
6.4
4.2
6.7
5.0
6.5
7.0
6.3
21,505
22,926
19,450
20,420
25,50
16,88
21,928
14,943
22,910
22,580
23,622
20,230
20,458
26,553
17,249
22,848
15,405
23,809
24,022
24,630
21,330
21,201
28,177
18,040
24,199
16,833
25,303
71
56
147
153
19
280
66
298
46
Brownsville-Harlingen-San Benito,
Bryan-College Station, TX
Buffalo-Niagara Falls NY
Burlington, VT (NECMA)
Canton-Massillon, OH
Casper, WY
Cedar Rapids, IA
Champaign-Urbana, IL
Charleston-North Charleston, SC ...
Charleston, WV
Charlotte-Gastonia-Rock Hill, NC-
sc
Charlottesville, VA
Chattanooga TN-GA
Cheyenne, WY
Chicago, IL*
Chico-Paradise, CA
Cincinnati, OH-KY-IN*
Clarksville-Hopkinsville, TN-KY
Cleveland-Lorain-Elyria, OH*
See footnotes at the end of the table.
Millions of dollars
Percent
change2
1994
1994-95
1993
1995
Rank in
Dollars
1993
1994
U.S.
1995
1995
8,301
8,931
9,660
8.2
19,104 19,684 20,770
166
2,290
9,298
4,612
30,328
6,128
1,610
68,719
1,793
2,443
9,818
4,798
32,441
6,469
1,682
73;638
1,865
2,608
10,464
5,060
34,614
6,833
1,765
79,737
1,965
6.7
6.6
5.4
6.7
5.6
5.0
8.3
5.3
19,212
19,362
17,023
21,525
16,594
15,894
24,084
16,395
21,137
21,733
18,616
24,132
17,984
17,460
26,803
17,930
157
131
259
68
285
293
32
286
7,016
19,884
7,337
20,823
7,722
22,132
5.3
6.3
19,646 20534 21 588
20,734 21,834 23,238
137
89
7,417
2,466
2,360
43,300
9,387
100,582
2,264
2,069
1,669
4,338
7,867
2,623
2,434
45,764
10,014
108,703
2,372
2,177
1,771
4,540
8,464
2,772
2,517
49,546
10,709
115,754
2,506
2,344
1,865
4,782
7.6
5.7
3.4
8.3
6.9
6.5
5.7
7.7
5.3
5.3
17,120
17,912
20,106
24,570
22,747
23,395
16,919
17,494
19,011
17,959
17,742
19,069
20,851
25,494
23,987
25,320
17,819
18,232
20,113
18,834
18,794
19,955
21,640
27,069
25,331
26,889
18,777
19,333
21,160
19,959
249
200
134
28
45
31
250
226
155
199
6,092
2,440
8,391
3,317
1,686
1,031
5,278
5,327
5,853
2,952
6,132
2,584
8,809
3,564
1,773
1,063
5,510
5,667
6,071
3,165
6,302
2,754
9,299
3,780
1,863
1,099
5,811
6,043
6,360
3,348
2.8
6.5
5.6
6.1
5.0
3.3
5.5
6.6
4.8
5.8
23,177
17,292
12,964
20,485
17,745
18,246
18,879
18,036
20,505
18,469
23,474
18,218
13,211
21,719
18,766
18,719
19,630
18,932
21,184
19,535
24,098
19,335
13,702
22,660
19,817
19,160
20,704
19,917
22,124
20,433
69
225
312
107
206
235
168
202
124
180
Fayetteville, NC
Fayetteville-Springdale-Rogers, AR
Flagstaff, AZ-UT
Flint Ml*
Florence, AL
Florence, SC
Fort Collins-Loveland, CO
Fort Lauderdale, FL*
Fort Myers-Cape Coral, FL
Fort Pierce-Port St. Lucie, FL
4,773
4,319
1,679
8,418
2,256
2,067
4,075
32,716
7,784
6,126
4,899
4,696
1,820
9,407
2,397
2,177
4,368
34,274
8,259
6,362
5,210
5,078
1,948
9,908
2,547
2,301
4,726
37,008
8,880
6,866
6.4
8.1
7.0
5.3
6.3
5.7
8.2
8.0
7.5
7.9
16,813
18,381
15,124
19,469
16,679
17,285
19,875
24,175
21,672
22,491
17,252
19,293
15,959
21,757
17,801
17,981
20,538
24,736
22,450
22,847
18,289
20,060
16,733
22,815
18,837
18,767
21,747
26,192
23,664
24,313
271
192
299
101
248
251
130
37
78
64
Fort Smith, AR-OK
Fort Walton Beach, FL
Fort Wayne IN
Fort Worth-Arlington, TX*
Fresno, CA
Gadsden, AL
Gainesville, FL
Galveston-Texas City, TX*
Gary, IN*
Glens Falls, NY
3,014
2,914
9,698
30,015
14,363
1,639
3,473
4,497
11,998
2,146
3,244
3,060
10,202
31,585
14,583
1,727
3,663
4,731
12,613
2,267
3,428
3,237
10,867
33,896
15,274
1,839
3,905
5,065
13,369
2,364
5.7
5.8
6.5
7.3
4.7
6.4
6.6
7.0
6.0
4.3
16,410
18,491
20,803
20,867
17,411
16,425
18,193
19,381
19,472
17,602
17,515
19,007
21,768
21,527
17,384
16,935
18,961
20,130
20,397
18,598
18,167
19,795
23,048
22,665
18,014
18,032
19,984
21,300
21,534
19,326
276
208
95
106
283
281
198
149
139
227
1,664
1,707
1,768
1,768
1,809
1,866
1,895
1,906
2,007
7.2
5.4
7.6
15,408 16,261 17,127
16,492 17,326 18,297
17,553 18,016 18,904
295
270
243
20,059
1,500
2,466
4,349
21,591
1,527
2,529
4,622
23,232
1,624
2,700
4,936
7.6
6.4
6.8
6.8
20,579
18,682
17,548
21,236
21,811
18,803
17,470
22,267
23,174
20,043
18,178
23,429
91
194
275
85
23,267
2,041
24,511
2,174
26,357
2,339
7.5
7.6
21,288 22,095 23,428
17,889 18,712 19,813
86
207
Colorado Springs, CO
210,079
40,549
64,737
98735
51,988
121 251
931005
e!i
Area name
U.S.
1995
Per capita personal income3
Personal income
Columbia, MO
Columbia, SC
Columbus, GA-AL
Columbus, OH
Corpus Christi, TX
Cumberland, MD-WV
Dallas, TX*
Danville, VA
Davenport-Moline-Rock Island, IAIL
Dayton-Springfield, OH
Daytona Beach, FL
Decatur, AL ....
Decatur, IL
Denver, CO* ...
Des Moines, IA
Detroit, Ml*
Dothan, AL
Dover, DE
Dubuque, IA ...
Duluth-Superior, MN-WI
Dutchess County, NY*
Eau Claire, Wl
El Paso, TX ...
Elkhart-Goshen, IN
Elmira, NY
Enid, OK
Erie PA
Eugene-Springfield, OR
Evansville-Henderson, IN-KY
Fargo-Moorhead, ND-MN
Goldsboro, NC
Grand Forks, ND-MN
Grand Junction, CO
Grand Rapids-Muskegon-Holland,
Great
Faiis7MT "!!!!!!!!!!!!!!!!!!!!!!!!!!!"!
Greeley, CO*
Green Bay, Wl
GreensboroWinston-Salem-High
Point, NC
Greenville, NC
Greenville-Spartanburg-Anderson,
sc
.:.
20,178
20,702
17,549
22,825
17,190
16,627
25,298
16,972
15,643
16,664
17,948
7.7
18,140 19,084 20,301
184
Hagerstown, MD*
Hamilton-Middletown, OH*
Harrisburg-Lebanon-Carlisle, PA ....
Hartford, CT (NECMA)
Hattiesburg MS .
Hickory-Morganton-Lenoir, NC
Honolulu, HI
Houma LA
Houston TX*
Huntington-Ashland, WV^-OH ....
2,156
6,076
13,179
29,959
1,525
5,602
21,675
2,759
84,734
5,123
2,296
6,438
13,751
30,762
1,635
5,945
22,254
2963
88,628
5,341
2,382
6,882
14,533
32,169
1,761
6,286
22,901
3,126
94,768
5,566
3.8
6.9
5.7
4.6
7.7
5.7
2.9
5.5
6.9
4.2
17,134
19,679
21,753
26,813
14,937
18,527
25,150
14808
23]571
16,188
18,162
20,377
22,546
27,587
15,773
19,402
25,602
15,807
24,214
16,865
18,740
21,527
23,752
28,962
16,594
20,235
26,300
16,585
25,449
17,570
253
141
75
14
301
186
35
302
43
292
Huntsville, AL
Indianapolis, IN
Iowa City, IA
Jackson, Ml
Jackson, MS
Jackson TN
Jacksonville, FL
Jacksonville, NC
Jamestown, NY
Janesville-Beloit, Wl
6,547
32,605
2,042
2,715
7,410
1,678
19,606
1,962
2,385
2,831
6,784
34,440
2,206
2,887
7,981
1,829
20,630
2,030
2,503
3,018
7,091
36,402
2,321
3,055
8,594
1,963
22,209
2,149
2,595
3,247
4.5
5.7
5.2
5.8
7.7
7.3
7.7
5.9
3.7
7.6
20,818
22,605
20,612
17,779
18190
17,693
20,40
13,474
16,763
19,580
20,711
23,583
21,926
18,936
19,355
19,032
21,234
14,005
17,635
20,635
21,624
24,664
22,894
19,913
20646
20,161
22,617
14,897
18,366
21,865
135
55
98
203
170
190
110
310
269
127
Jersey City, NJ*
Johnson City-Kingsport-Bristol, TNVA
Johnstown, PA
11,975
12,24
7,596
4,080
12,987
6.1
21,714 22,223 23,56
80
7,936
8,442
4,21
4,43
6.4
5.2
16,959 17,622 18,582
16,934 17,482 18,425
262
268
D-70 • Regional Data
SURVEY OF CURRENT BUSINESS
January 1998
Table K.1.—Personal Income and Per Capita Personal Income by Metropolitan Area, 1993-95—Continued
Per capita personal income3
Personal income
Area name
Percent
change2
Millions of dollars
1993
1994
1995
Jonesboro, AR
Joplin MO
Kalam'azoo-Battle Creek Ml
Kankakee IL*
Kansas City, MO-KS
Kenosha, Wl*
Killeen-Temple, TX
1,154
2,357
8,737
1,808
36,359
2,597
4,202
1,226
2,543
9,229
1,892
38,533
2,751
4,530
1,335
2,739
9,821
2,020
41,123
2,948
4,828
8.9 5,905 6,704
7.7 6,857 7,960
6.4 9,895 20,964
6.7 8,003 8,699
6.7 22,290 23,244
7.2 9,092 19,990
6.6 5,600 15,682
Knoxville, TN
Kokomo IN
LaCrosse WI-MN
Lafayette LA
Lafayette, IN
Lake Charles LA
Lakeland-Winter Haven, FL
Lancaster PA
Lansing-East Lansing Ml
Laredo TX
12,153
2,071
2,314
5,720
2,994
2,957
7,175
9,537
8,531
1,730
12,964
2,203
2,430
6,161
3,164
3,176
7,709
9,785
9,168
1,885
Las Cruces, NM
Las Vegas, NV-AZ
Lawrence, KS
Lawton OK
Lewiston-Auburn, ME (NECMA)
Lexington, KY
Lima, OH
Lincoln NE
Little Rock-North Little Rock, AR ...
Longview-Marshall, TX
2,059
21,342
1,417
1,778
1,849
8,660
2,795
4,541
10,489
3,507
2,160
23,786
1,505
1,803
1,918
9,080
2,988
4,831
11,105
3,660
Los Angeles-Long Beach, CA*
Louisville, KY-IN
Lubbock, TX
Lynchburg VA
Macon dA
Madison Wl
Mansfield, OH
McAllen-Edinburg-Mission, TX
Medford-Ashland, OR
Melbourne-Titusville-Palm Bay, FL
Memphis, TN-AR-MS
Merced CA
Miami FL*
Middlesex-Somerset-Hunterdon,
NJ*
Milwaukee-Waukesha, Wl*
Minneapolis-St. Paul, MN-WI
Mobile, AL
Modesto, CA
Monmouth-Ocean, NJ*
Monroe, LA
Myrtle Beach, SC;...........................
Naples FL
Nashville, TN
Nassau-Suffolk NY*
New Haven-Bridgeport-StamfordDanbury-Waterbury, CT*
New London-Norwich, CT
(NECMA)
New Orleans, LA
New York NY*
1994-95
lank in
U.S.
Dollars
1993
1994
1995
1995
7,826
9,088
22,203
9,901
24,576
21,117
6,508
290
241
122
204
58
158
303
13,814
2,368
2,550
6,527
3,353
3,394
8,344
10,321
9,686
1,966
6.6 9,627 20,566 21,558
7.5 20,848 22,130 23,715
4.9 9,385 20,210 21,088
5.9 5,999 17,060 7,867
6.0 8,070 18,806 19,734
6.9 7,188 18,258 9,262
8.2 6,972 17,930 9,126
5.5 21,745 22,084 23,056
5.7 9,553 20,614 21,717
4.3 10,998 11,430 11,402
138
77
159
287
215
230
238
93
132
314
2,343
26,198
1,608
1,880
2,019
9,743
3,117
5,156
11,916
3,905
8.5 13,487 13,752 14,643
10.1 21,054 21,974 22,927
6.8 16,483 17,266 18,191
4.3 15,041 15,866 16,870
5.3 17,808 18,558 19,626
7.3 20,331 21,060 22,394
4.3 17,897 19,168 20,042
6.7 20,275 21,325 22,446
7.3 19,680 20,652 21,954
6.7 17,531 18,166 19,132
311
97
274
297
217
116
195
114
126
237
199,770 201,754 213,337
20,804 21,834
23,232
4,100
4,330
4,590
3,723
3,922
4,127
5,490
5,740
6,085
9,206
9,765 10,391
3,201
3,373
3,039
4,521
4,893
5,248
3,070
3,272
2,859
8,564
9,341
8,938
5.7 21,984 22,218 23,501
6.4 21,363 22,267 23,552
6.0 18,027 18,776 19,783
5.2 18,550 19,314 20,199
6.0 18,129 18,686 19,674
6.4 23,822 25,032 26,449
5.4 17,343 18,265 19,243
7.3 10,170 10,525 10,878
6.6 18,080 18,913 19,746
4.5 19,663 20,161 20,747
82
81
209
188
216
33
231
315
213
167
21,862
3,025
39,110
23,432
3,043
40,344
25,222
3,017
43,087
7.6
-.9
6.8
20,988 22,215 23,640
15,735 15,494 15,653
19,699 20,056 21,058
79
307
160
31,640
33,779
66,474
8,495
6,992
27,308
2,390
33,117
35,519
70,555
8,967
7,139
28,058
2,528
35,087
37,698
74,901
9,469
7,449
29,635
2,708
5.9
6.1
6.2
5.6
4.3
5.6
7.1
29,967
23,263
25,026
16,811
17,379
26,720
16,395
30,997
24,422
26,197
17,614
17,537
27,089
17,304
32,507
25,906
27,436
18,429
18,122
28,187
18,444
7
38
26
266
278
18
264
5,840
2,180
2,544
5,343
23,385
77,581
6,178
2,287
2,771
5,601
25,394
80,864
6,558
2,384
3,034
6,015
27,453
85,250
6.1 18,996 19,964
4.2 18,185 19,204
9.5 17,143 18,177
7.4 31,084 31,447
8.1 22,367 23,716
5.4 29,373 30,527
21,000
20,044
19,220
32,878
25,077
32,108
162
193
234
5
50
9
52,715
54,255
57,566
6.1
32,372 33,352 35,400
3
5,907
25,439
242,044
6,264
26,568
251,831
6,615
28,089
266,669
5.6
5.7
5.9
23,761 25,157 26,436
19,497 20,277 21,374
28,163 29,227 30,896
34
144
11
Area name
1994
1995
1993
1994
21,293
22,694
24,596
8.4
2,661
3,448 4,675
54
Rapid City, SD
Reading, PA
Redding, CA
Reno NV
Richland-Kennewick-Pasco, WA ....
Richmond-Petersburg, VA
Riverside-San Bernardino, CA*
Roanoke VA
Rochester MN
Rochester NY
1,564
7,698
2,909
6,933
3,388
21,378
50,578
5,017
2,608
24,339
1,645
8,020
3,007
7,506
3,605
22,540
52,250
5,207
2,667
25,451
1,760
8,455
3,146
8,110
3,699
23,940
55,477
5,575
2,784
26,703
7.0
5.4
4.6
8.0
2.6
6.2
6.2
7.1
4.4
4.9
8,181
2,268
8,319
25,189
0,220
23,600
7,584
22,045
23,141
22,372
8,991
3,008
8,785
26,448
20,691
24,587
7,892
22,753
23,574
23,386
0,176
4,139
9,558
27,866
0,618
25,851
8,685
24,378
24,720
24,566
189
67
219
23
171
41
255
62
52
59
Rockford IL
Rocky Mount, NC
Sacramento, CA*
Saginaw-Bay City-Midland, Ml
St Cloud MN
St. Joseph, MO
St. Louis, MO-IL
Salem, OR*
Salinas CA
Salt Lake City-Ogden, UT
6,837
2,375
30,464
7,973
2,609
1,697
56,970
5,300
7,946
20,413
7,381
2,481
31,962
8,478
2,777
1,781
59,826
5,624
7,922
22,030
7,888
2,656
34,258
8,996
2,902
1,872
63,929
6,010
8,452
23,739
6.9 9,923
7.1 7,147
7.2 21 306
6.1 9,787
4.5 6,825
5.1 7,251
6.9 22,529
6.9 17,612
6.7 22,577
7.8 17,674
21,330
7,631
22,173
21 047
7,708
8,214
23,634
18,278
23,804
18,703
22,602
8,615
23,459
22,342
8,278
9,222
25,170
19,154
25,270
19,825
111
260
84
118
272
233
48
236
47
205
San Angelo, TX
San Antonio, TX
San Diego CA
San Francisco, CA*
San Jose, CA*
San Luis Obispo-Atascadero-Paso
Robles, CA
Santa Barbara-Santa MariaLompoc, CA
Santa Cruz-Watsonville, CA*
Santa Fe NM
Santa Rosa CA*
1,754
25,644
56,001
55,375
43,786
1,845
27,298
57,820
56,964
45,784
1,958
29,313
61,106
60,853
49,548
6.1 17,553 18,247
7.4 18,214 19,055
5.7 21,484 22,114
6.8 33,891 34,745
8.2 28,362 29,439
19,231
20,034
23,263
36,989
31,487
232
196
88
1
10
4,216
4,361
4,645
6.5
18,970 19,444 20,490
176
9,193
5,618
2,913
9,703
9,378
5,788
3,087
10,103
9,929
6,193
3,350
10,779
5.9 24,216 24,435 25,860
7.0 24,049 24,587 26,202
8.5 22,812 23,461 24,691
6.7 23,799 24,533 25,888
40
36
53
39
Sarasota-Bradenton, FL
Savannah, GA
Scranton-Wilkes-Barre-Hazleton,
PA
SeattJe-Bellevue-Everett, WA*
Sharon PA
Sheboygan Wl
Sherman-Denison, TX
Shreveport-Bossier City, LA
Sioux City, IA-NE
Sioux Falls, SD
13,489
5,292
14,375
5,612
15,557
5,971
8.2 26,406 27,704 29,641
6.4 19,473 20,318 21,351
13
145
11,963
57,079
2,042
2,188
1,677
6,963
2,196
3,208
12,316
59,763
2,141
2,314
1,751
7,296
2,336
3,504
12,927
63,422
2,259
2,456
1,879
7,672
2,517
3,747
5.0 18,695 19,363 20,442
6.1 26,458 27,422 28,773
5.5 16,702 17,545 18,498
6.2 20,589 21,526 22,560
7.3 17,420 17,963 19,090
5.2 18,495 19,321 20,228
7.7 18,493 19,544 20,871
6.9 21,573 23,045 24,320
179
15
263
113
240
187
165
63
South Bend, IN
Spokane, WA
Springfield, IL
Springfield, MO
Springfield MA (NECMA)
State College PA
Steubenville-Weirton, OH-WV
Stockton-Lodi CA
Sumter, SC
Syracuse NY
5,126
7,409
4,145
5,243
12,124
2,247
2,326
9,115
1,463
14,898
5,399
7,849
4,381
5,640
12,566
2,333
2,420
9,385
1,549
15,544
5,741
8,271
4,554
6,053
13,264
2,475
2,521
9,924
1,645
16,171
6.3 20,215 21,150 22,350
5.4 18,932 19788 20575
3.9 21,311 21,657 22,426
7.3 18,562 19,556 20,616
5.6 20,321 21,080 22,342
6.1 17,403 17,977 18,957
4.2 16,519 17,278 18,079
5.7 17,826 18,085 18874
6.2 13,811 14,557 15',387
4.0 19,745 20,676 21,592
117
173
115
172
118
242
279
245
308
136
Tacoma, WA*
Tallahassee FL
Tampa-St. Petersburg-Clearwater,
FL
Terre Haute IN
Texarkana, TX-Texarkana, AR
Toledo OH
Topeka, KS
Trenton NJ*
Tucson AZ
Tulsa, OK
12,125
4,504
12,706
4,784
13,586
5,083
6.9
6.3
19,231 19,899 20,945
18,014 18,760 19,753
163
212
43,934
2,574
1,975
12,583
3,409
9,809
12,644
14,918
45,864
2,654
2,080
13,292
3,554
10,194
13,782
15,473
49,391
2,789
2,215
14,038
3,753
10,770
14,770
16,274
7.7
5.1
6.5
5.6
5.6
5.7
7.2
5.2
20,567
17,160
16,184
20,521
20,775
29,853
17,767
20,192
22,64
18,64
17,99
22,97
22,75
32,633
19,55
21,78
108
258
284
96
104
6
220
129
Tuscaloosa, AL
Tyler, TX
Utica-Rome, NY
Vallejo-Fairfield-Napa, CA*
Ventura, CA*
Victoria, TX
Vineland-Millville-Bridgeton, NJ* ....
Visalia-Tulare-Porterville, CA
Waco TX
Washington, DC-MD-VA-WV*
2,678
3,054
5,632
10,10
16,035
1,51
2,72
5,26
3,29
126,23
2,856
3,238
5,892
10,476
16,494
1,594
2,786
5,363
3,474
132,36
3,045
3,45
6,085
11,17
17,48
1,70
2,93
5,61
3,734
139,08
6.6 17,306 18,41
6.7 19,357 20,24
3.3 17,729 18,68
6.7 21,138 21,82
6.0 23,196 23,52
6.6 19,19 19,89
5.4 19,56 20,06
4.7 15,51 15,51
7.5 16,96 17,52
5.1 28,63 29,64
19,28
21,25
19,74
23,32
24,73
21,04
21,31
16,14
18,67
30,82
229
151
214
87
51
161
148
305
257
12
2,25
2,24
30,99
2,71
10,71
2,384
2,11
13,709
3,499
3,59
2,406
2,370
32,424
2,796
10,934
2,519
2,184
14,32
3,74
3,73
2,54
2,53
35,20
2,92
11,61
2,70
2,29
15,24
4,06
3,934
5.6 18,14
6.8 18,77
8.6 33,19
4.7 17,13
6.2 21,23
7.5 18,29
4.9 17,51
6.5 25,64
8.6 18,66
5.2 17,55
20,66
20,90
36,05
18,68
22,82
19,93
19,10
27,92
20,24
18,42
169
164
2
256
100
201
239
21
185
267
2,95
7,63
11,05
2,19
1,75
3,05
7,82
11,64
2,23
1,68
3,27
8,29
12,30
2,36
1,97
7.2 20,29 20,86 22,083
6.1 21,56 21,72 22,75
5.7 18,24 19,31 20,51
5.9 16,56 16,56 17,41
17.1 14,11 13,22 16,22
58,947
7,395
62,684
7,729
6.3 29,599 30,459 32,346
4.5 20,037 20,813 21,528
8
140
28,554
56,796
3,533
4,650
18,503
3,791
14,167
65,005
29,768
58,801
3,804
4,875
19,443
3,996
14,958
67,212
31,217
62,995
4,090
5,152
20,474
4,288
16,108
71,272
4.9 18,826 19,485 20,332
7.1 26,196 26,973 28,729
7.5 16,673 17,318 18,130
5.7 19,829 20,618 21,674
5.3 18,575 19,277 20,139
7.3 20,662 21,301 22,258
7.7 21,535 22,540 24,002
6.0 25,68 26,213 27,420
183
16
277
133
191
120
72
27
Orlando, FL
Owensboro, KY
Panama City FL
Parkersburg-Marietta, WV-OH
Pensacola, FL
Peoria-Pekin, IL
Philadelphia, PA-NJ*
Phoenix-Mesa, AZ
Pine Bluff AR
Pittsburgh, PA
26,180
1,562
2,373
2,739
6,229
7,005
122,479
48,394
1,290
53,184
27,690
1,669
2,471
2,853
6,484
7,418
126,364
52,629
1,319
54,634
29,645
1,758
2,592
2,999
6,818
7,692
133,528
58,036
1,397
57,518
7.1 19,62
5.3 17,46
4.9 17,29
5.1 18,11
5.1 17,19
3.7 20,42
5.7 24,77
10.3 20,18
5.8 15,29
5.3 22,09
20,313
18,496
17,680
18,816
17,39
21,55
25,52
21,17
15,649
22,76
21,395
19,390
18,229
19,774
18,025
22,235
26,959
21,83
16,68
24,07
143
223
273
211
282
121
30
128
300
70
3,04
1,12
5,64
36,08
3,145
1,182
5,896
38,758
3,32
1,24
6,25
42,16
22,39
16,05
23,03
21,89
23,15
16,404
23,83
23,04
24,61
17,03
25,12
24,55
57
296
49
60
Waterloo-Cedar Falls, IA
Wausau, Wl
West Palm Beach-Boca Raton, FL
Wheeling WV-OH
Wichita KS
Wichita Falls TX
Williamsport, PA
Wilmington-Newark, DE-MD*
Wilmington, NC
Yakima, WA
19,83
3,89
2,06
2,29
3,84
20,24
4,248
2,17
2,45
4,07
21,57
4,69
2,39
2,64
4,32
6.6 21,68 22,18 23,73
10.4 13,73 14,06 15,09
9.9 16,37 17,02 18,44
7.9 18,63 19,48 20,53
6.2 21,21 22,27 23,49
76
309
265
174
83
Yolo, CA* .
York PA
Youngstown-Warren, OH
Yuba City, CA
Yuma AZ .
1. The personal income level shown for the United States is derived as the sum of the county estimates; it
differs from the national income and product accounts (NIPA) estimate of personal income because, by definition,
it omits the earnings of Federal civilian and military personnel stationed abroad and of U.S. residents employed
abroad temporarily by private U.S. firms. It can also differ from the NIPA estimate because of different data sources
and revision schedules.
2. Percent change was calculated from unrounded data.
3. Per capita personal income was computed using Census Bureau midyear population estimates. Estimates for
Rank in
U.S.
Dollars
1993
57,117
7,061
5.8
5.3
6.1
8.8
Percent2
hange
Millions of dollars
Raleigh-Durham-Chapel Hill, NC ...
Newark NJ*
Newburgh, NY-PA*
Norfolk-Virginia Beach-Newport
News, VA-NC
Oakland, CA*
Ocala, FL
Odessa-Midland, TX
Oklahoma City, OK
Olympia, WA*
Omaha, 'NE-IA
Orange County, CA*
Pittsfield, MA (NECMA)
Pocatello ID
Portland, ME (NECMA)
Portland-Vancouver, OR-WA*
Providence-Warwick-Pawtucket, Rl
(NECMA)
Provo-Orem UT
Pueblo, CO
Punta Gorda, FL
Racine Wl*
Per capita personal income3
Personal income
994-95
21,24
17,757
16,93
21,73
21,54
30,96
18,76
20,82
19,41
19,68
33,86
17,72
21,57
19,02
18,08
26,50
19,31
17,81
1995
1995
125
103
175
294
304
1993-95 reflect county population estimates available as of March 1997.
4. Includes Metropolitan Statistical Areas, Primary Metropolitan Statistical Areas (PMSA's designated by *), and
New England County Metropolitan Areas (NECMA's). The New Haven-Bridgeport-Stamford-Danbury-Waterbury, CT
NECMA is presented as a PMSA (part of the New York CMSA).
Source: Table 1 in "Comprehensive Revision of Local Area Personal Income, 1969-95" in the September 1997
SURVEY OF CURRENT BUSINESS.
SURVEY OF CURRENT BUSINESS
January 1998
Regional Data • D-71
L. Charts.
SELECTED REGIONAL ESTIMATES
[SHARES OF u.s. PERSONAL INCOME~BY REGION"
1996
1969
Mideast
23.6%
New England
New England
6.4%
6.0%
Plains
7.5%
Southeast
17.3%
Southwest
Rocky Mountain
2.2%
Southwest
Rocky Mountain
2.9%
9.5%
7.0%
(SHARES OF U.S. GROSS STATE PRODUCT BY REGION
1977
AVERAGE ANNUAL GROWTH RATE OF PERSONAL INCOME, 1969-96
STATES WITH FASTEST GROWTH
US
' '
STATES WITH SLOWEST GROWTH
U.S. average
8.2 %
North Dakota
Indiana
West Virginia
Rhode Island
Michigan
Pennsylvania
Illinois
New York
Ohio
Iowa
Percent
U.S. Department of Commerce, Bureau ol Economic Analysis
Percent
D-72
• Regional Data
SURVEY OF CURRENT BUSINESS
January 1998
SELECTED REGIONAL ESTIMATES
PER CAPITA PERSONAL INCOME,1996
ME
$21,011
$22,205
SC
\
v19.97
AL \
GA \
MS I $20,131 > $22,977 7
UJ17,57
$19,664 -^y,
~
"~-\ FL
124,22^
United States $24,426
States with highest levels
|
| States with lowest levels
',
i All other States
PERSONAL INCOME GROWTH: AVERAGE QUARTERLY PERCENT CHANGE, 1996:11-1997:11
rf
MA 1.6
United States 1.4%
[7~j States with largest percent change
U.S. Department o( Commerce, Bureau of Economic Analysis
|
I States with smallest percent change
!
| All other States
January 1998
SURVEY OF CURRENT BUSINESS
Appendixes • D-73
Appendix A
Additional Information About BEA'S NIPA Estimates
Statistical Conventions
Changes in current-dollar GDP measure changes in
the market value of goods and services produced in
the economy in a particular period. For many purposes, it is necessary to decompose these changes into
quantity and price components. To compute the
quantity indexes, changes in the quantities of individual goods and services are weighted by their prices.
(Quantity changes for GDP are often referred to as
changes in "real GDP.") For the price indexes, changes
in the prices for individual goods and services are
weighted by quantities produced. (In practice, the
current-dollar value and price indexes for most GDP
components are determined largely using data from
Federal Government surveys, and the real values of
these components are calculated by deflation at the
most detailed level for which all the required data are
available.)
Except for the most recent period, the annual and
quarterly changes in real GDP and prices are "chaintype" measures that are both based on the "Fisher
Ideal" formula that incorporates weights from two adjacent years. For example, the 1992-93 percent change
in real GDP uses prices for 1992 and 1993 as weights,
and the 1992-93 percent change in price uses quantities for 1992 and 1993 as weights. Because the quantity
and price index numbers calculated in this way are
symmetric, the product of the index of real GDP and
the index of prices equals the index of current-dollar
GDP.
In the most recent period, a variant of the formula
is used because only i year's information is available
for computing the index number weights. Accordingly, BEA uses the prices and quantities from the two
adjacent quarters as weights to calculate Fisher chaintype measures for those estimates. For example, the
1996:11-1996:111 percent change in real GDP uses prices
for 1996:11 and 1996:111 as weights, and the 1996:111996:111 percent change in the GDP price index uses
quantities for 1996:11 and 1996:111 as weights.
BEA also presents another measure, known as the
"implicit price deflator," in the NIPA tables. The implicit price deflator is calculated as the ratio of currentdollar value to the corresponding chained-dollar value
multiplied by 100.
In addition, BEA prepares measures of real GDP
and its components in a dollar-denominated form,
designated "chained (1992) dollar estimates." These estimates are computed by multiplying the 1992 currentdollar value of GDP, or of a GDP component, by the
corresponding quantity index number. For example,
if a current-dollar GDP component equaled $100 in
1992 and if real output for this component increased
by 10 percent in 1993, then the "chained (1992) dollar"
value of this component in 1993 would be $110 ($100
X 1.10). Note that percentage changes in the chained
(1992) dollar estimates and the percentage changes calculated from the quantity indexes are identical, except
for small differences due to rounding.
Because of the formula used for calculating real GDP,
the chained (1992) dollar estimates for detailed GDP
components do not add to the chained-dollar value
of GDP or to any intermediate aggregates. A "residual" line is shown as the difference between GDP and
the sum of the most detailed components shown in
each table. The residual generally is small close to the
base period but tends to become larger as one moves
further from it. In cases where the residual is large,
the table of contributions of the major components
to the change in real GDP provides a better basis for
determining the composition of GDP growth than the
chained-dollar estimates.
For quarters and months, the estimates are presented at annual rates, which show the value that would
be registered if the rate of activity measured for a
quarter or a month were maintained for a full year.
Annual rates are used so that time periods of different lengths—for example, quarters and years—may be
compared easily. These annual rates are determined
simply by multiplying the estimated rate of activity by
4 (for quarterly data) or 12 (for monthly data).
Percent changes in the estimates are also expressed
at annual rates. Calculating these changes requires a
variant of the compound interest formula:
-^
- l x 100,
where r is the percent change at an annual rate;
Xt is the level of activity in the later period;
X0 is the level of activity in the earlier period;
m is the yearly periodicity of the data (for
example, i for annual data, 4 for quarterly,
or 12 for monthly); and
n is the number of periods between the
earlier and later periods (that is, t - o).
Quarterly and monthly NIPA estimates are seasonally
adjusted, if necessary. Seasonal adjustment removes
from the time series the average impact of variations that normally occur at about the same time and
in about the same magnitude each year—for example, weather, holidays, and tax payment dates. After
seasonal adjustment, cyclical and other short-term
changes in the economy stand out more clearly.
D-74 • Appendixes
SURVEY OF CURRENT BUSINESS
January 1998
Reconciliation Tables
Table 1—Reconciliation of Changes in BEA-Derived Compensation Per Hour With BLS Average Hourly Earnings
[Percent change from preceding period]
Se asonally a<jjusted at annual rat 3S
1994
1995
1.8
2.4
3.2
2.9
1
-.6
-.6
-5
0
-.1
0
Less' Contribution of supplements to wages and salaries per hour
Plus: Contribution of wages and salaries per hour of persons in housing and in nonprofit
institutions
0
Less: Contribution of wages and salaries per hour of persons in government enterprises,
unpaid family workers and self-employed
o
Equals: BEA-derived wages and salaries per hour of all employees in the private
nonfarm sector
Less: Contribution of wages and salaries per hour of nonproduction workers in
manufacturing
Less: Other differences
Addendum:
BLS estimates of compensation oer hour in the nonfarm business sector2
•" Revised.
1. Includes BEA use of non-BLS data and differences in detailed weighting. Annual estimates
also include differences in BEA and BLS benchmark procedures; quarterly estimates also include
3.3
-1.0
III
II
4.5
3.3
4.3
-.4
-.2
.1
-.4
.1
0
-2
0
3
2
1
5
-2
1
1.8
2.8
3.6
2.9
4.0
4.9
3.5
3.9
2
1
-2
-3
-3
-.3
-.1
-.1
-.1
.5
-.4
.5
1.1
.6
.2
2.6
2.9
3.3
3.7
3.9
4.2
3.0
3.8
1.7
2.5
3.1
2.9
3.3
4.5
3.3
3.9
-1.0
Equals: BLS average hourly earnings of production or nonsupervisory workers on
private nonfarm oavrolls
I
IV
III
BEA-derived compensation per hour of all persons in the nonfarm business sector
(less housing)
....
„.„.
.
1997
1996
1996
differences in seasonal adjustment procedures.
2. These estimates differ from the BEA-derived estimates (first line) because the BLS estimates
include compensation and hours of tenant-occupied housing.
Table 2.—Relation of Net Exports of Goods and Services and Net Receipts of Factor Income in the National Income and
Product Accounts (NIPA's) to Balance on Goods, Services, and Income in the Balance of Payments Accounts (BPA's)
[Billions of dollars]
Seasonal y adjustsd at ann jai rates
Line
..
1
?
3
Less- Gold BPA's
...
Statistical differences 1
Other items
I
IV
III
II
Exports of goods, services, and income, BPA's
1997
1996
1996
1995
II
III
991.5 1,055.2 1,049.3 1,047.9 1,098.2 1,118.1 1,175.5 1,182.4
5.1
o
6.9
0
1.1
6.7
.6
.8
3.7
1.0
5.2
0
1.5
7.3
8.4
35.4
36.5
36.0
165
170
171
12.5
o
o
9.3
5.6
.7
3.4
6.1
.6
4
.9
Plus: Adjustment for grossing of parent/affiliate interest payments
Adjustment for U S territories and Puerto Rico
.
Services furnished without payment by financial intermediaries except life insurance
carriers and private noninsured pension plans
5
8
8.0
7
Equals: Exports of goods and services and receipts of factor income, NIPA's
8 1,041.2 1,105.1 1,092.0 1,099.0 1,153.4 1,170.4 1,221.9 1,235.2
Imports of goods, services, and income, BPA's
..
1.1
33.3
8.7
340
34.1
33.6
8.9
349
145
153
148
159
163
8.6
8.4
9.9
9 1,086.5 1,163.4 1,156.9 1,183.5 1,198.0 1,243.2 1,291.0 1,314.2
77
0
0
Less: Gold, BPA's
Statistical differences1
Other items
10
11
1?
Plus: Gold, NIPA's
Adjustment for grossing of parent/affiliate interest payments
Adjustment for U S territories and Puerto Rico
Imputed interest paid to rest of world
13
14
1*>
16
Equals: Imports of goods and services and payments of factor income, NiPA's
17 1,122.0 1,198.3 1,183.0 1,219.9 1,238.8 1,283.5 1,331.3 1,367.2
Balance on goods, services, and income, BPA's (1-9)
18
-95.0
-108.2
-107.6
-135.6
-99.8
Less: Gold (2-10+13) ...
Statistical differences (3-11) l
Other items (4-12)
1P
?0
?1
-38
0
.9
-46
0
-57
0
10
-50
0
-39
0
Plus: Adjustment for U.S. territories and Puerto Rico (6-15)
??
11.4
11.6
11.8
11.2
Equals: Net exports of goods and services and net receipts of factor income, NIPA's
(8-17)
23
-80.8
-93.2
-91.0
1. Consists of statistical revisions in the NIPA's that have not yet been incorporated into the
BPA's (1997:111) and statistical revisions in the BPA's that have not yet been incorporated in the
NIPA's (1997:1-1997:111).
5.3
0
0
-3.6
80
21.9
14.5
14.6
0
0
6.2
0
0
3.4
o
8.7
-3.4
11.0
-3.6
30
-4.7
0
0
0
0
-3.8
-3.6
-4.0
-4.2
-3.6
-3.9
-3.6
87
224
73
223
84
224
89
234
84
261
15.3
14.8
15.9
16.3
86
241
165
99
279
171
11
15
-120.9
11
11.5
17.0
-125.1 -115.5 -131.8
-56
4.0
8
-56
9.2
7
11.3
10.4
-85.4 -113.1 -109.4
-32
108
6
8.1
-132.0
SURVEY OF CURRENT BUSINESS
January 1998
Appendixes
Appendix B
Suggested Reading
Mid-Decade Strategic Plan
BEA has published the following articles in the SURVEY OF CURRENT BUSINESS on the development and
implementation of its strategic plan for improving
the accuracy, reliability, and relevance of the national,
regional, and international accounts.
"Mid-Decade Strategic Review of BEA'S Economic
Accounts: Maintaining and Improving Their
Performance" (February 1995)*
"Mid-Decade Strategic Review of BEA'S Economic
Accounts: An Update" (April 1995)*
"BEA'S Mid-Decade Strategic Plan: A Progress
Report" (June 1996)*
Mid-Decade Strategic Review of BEA'S Economic
Accounts: Background Papers (1995) presents seven
background papers that evaluate the state of the U.S.
economic accounts and that identify the problems and
the prospects for improving the accounts.
Methodology
BEA has published a wealth of information about the
methodology used to prepare its national, regional,
and international estimates.
National
National income and product accounts (NIPA'S)
NIPA Methodology Papers: This series documents
the conceptual framework of the NIPA'S and the
methodology used to prepare the estimates.
An Introduction to National Economic Accounting
(NIPA Methodology Paper No. i, 1985) [Also
appeared in the March 1985 issue of the SURVEY]
Corporate Profits: Profits Before Tax, Profits Tax
Liability, and Dividends (NIPA Methodology Paper
No. 2,1985)
Foreign Transactions (NIPA Methodology Paper
No. 3,1987)
GNP: An Overview of Source Data and Estimating Methods (NIPA Methodology Paper No. 4,
1987) [Also appeared in the July 1987 issue of the
SURVEY]
Government Transactions (NIPA Methodology
Paper No. 5,1988)*
Personal Consumption Expenditures (NIPA Methodology Paper No. 6,1990)
* Items with an asterisk can be found on BEA'S Internet site at
<http://www.bea.doc.gov>.
The methodologies described in these papers are
subject to periodic improvements that are typically
introduced as part of the annual and comprehensive revisions of the NIPA'S; these improvements are
described in the SURVEY articles that cover these
revisions.
"Annual Revision of the U.S. National Income and
Product Accounts": This series of SURVEY articles,
the latest of which was published in the August 1997
issue,* describes the annual NIPA revisions and the
improvements in methodology.
The most recent comprehensive revision of the
NIPA'S is described in the following series of SURVEY
articles.
"Preview of the Comprehensive Revision of the
National Income and Product Accounts: BEA'S
New Featured Measures of Output and Prices"
(July 1995)*
"Preview of the Comprehensive Revision of the
National Income and Product Accounts: Recognition of Government Investment and Incorporation of a New Methodology for Calculating
Depreciation" (September 1995)*
"Preview of the Comprehensive Revision of the
National Income and Product Accounts: New and
Redesigned Tables" (October 1995)*
"Improved Estimates of the National Income
and Product Accounts for 1959-95: Results of
the Comprehensive Revision" (January/February
1996)*
"Completion of the Comprehensive Revision of
the National Income and Product Accounts,
1929-96" (May 1997)*
"Updated Summary NIPA Methodologies" (September 1997 SURVEY)* identifies the principal source data
and estimating methods that are used to prepare the
estimates of gross domestic product (GDP).
Availability
For the availability of some of these publications,
see the inside back cover of this issue. See also the
User's Guide to BEA Information: To request a copy,
write to the Public Information Office, BE-53, Bureau
of Economic Analysis, U.S. Department of Commerce,
Washington DC 20230, call 202-606-9900, or visit BEA'S
Internet site at <http://www.bea.doc.gov>.
• D-75
D-76
• Appendixes
SURVEY OF CURRENT BUSINESS
Information on the sources and methods used to
prepare the national estimates of personal income,
which provide the basis for the State estimates of personal income, can be found in State Personal Incomey
1929-93 (1995).*
"Gross Domestic Product as a Measure of U.S. Production" (August 1991 SURVEY) briefly explains the
difference between GDP and gross national product.
The conceptual basis for the chain-type measures of
real output and prices used in the NIPA'S is described
in the following SURVEY articles.
"Alternative Measures of Change in Real Output
and Prices" (April 1992)*
"Economic Theory and BEA'S Alternative Quantity
and Price Indexes" (April 1992)*
"Alternative Measures of Change in Real Output and Prices, Quarterly Estimates for 1959-92"
(March 1993)*
"Preview of the Comprehensive Revision of the
National Income and Product Accounts: BEA'S
New Featured Measures of Output and Prices"
(July 1995)*
"BEA'S Chain Indexes, Time Series, and Measures
of Long-Term Economic Growth" (May 1997)*
"Reliability and Accuracy of the Quarterly Estimates
of GDP" (October 1993 SURVEY)* evaluates GDP estimates by examining the record of revisions in the
quarterly estimates.
"A Look at How BEA Presents the NIPA'S" (May
1996 SURVEY)* explains how to locate the NIPA estimates and some of the conventions used in their
presentation.
Wealth and related estimates
"Improved Estimates of Fixed Reproducible Tangible Wealth, 1929-95" (May 1997 SURVEY)* describes
the most recent revision of the estimates of fixed
reproducible tangible wealth.
January 1998
International
Balance of payments accounts (BPA'S)
The Balance of Payments of the United States: Concepts,
Data Sources, and Estimating Procedures (1990) describes the methodologies used in preparing the estimates in the BPA'S and of the international investment
position of the United States. These methodologies
are subject to periodic improvements that are typically introduced as part of the annual revisions of
the BPA'S.
"U.S. International Transactions, Revised Estimates": This series of SURVEY articles, the latest of
which was published in the July 1997 issue,* describes
the annual BPA revisions and the improvements in
methodology.
Direct investment
The coverage, concepts, definitions, and classifications used in the benchmark surveys of U.S. direct
investment abroad and of foreign direct investment
in the United States are presented in the publications of the final results of the following benchmark
surveys.
U.S. Direct Investment Abroad: 1989 Benchmark
Survey, Final Results (1992)*
Foreign Direct Investment in the United States: 1992
Benchmark Survey, Final Results (1995)*
The types of data on direct investment that are collected and published by BEA and the clarifications of
the differences between the data sets are presented in
the following SURVEY articles.
"A Guide to BEA Statistics on U.S. Multinational
Companies" (March 1995)*
"A Guide to BEA Statistics on Foreign Direct
Investment in the United States" (February 1990)*
Regional
Gross product by industry
Personal income
"Improved Estimates of Gross Product by Industry,
1959-94" (August 1996 SURVEY)* describes the most
recent comprehensive revision of the estimates of gross
product by industry.
"Gross Product by Industry, 1947-96" (November
1997 SURVEY)* presents the most recent revision to
the estimates of gross product by industry and briefly
describes changes in methodology.
State Personal Income, 1929-93 (1995)* includes a description of the methodology used to prepare the
estimates of State personal income. [Also available on
the CD-ROM "State Personal Income, 1958-96"]
Local Area Personal Income, 1969-92 (1994)* includes a description of the methodology used to
prepare the estimates of local area personal income.
[Also available on the CD-ROM "Regional Economic
Information System, 1969-95"]
Input-output accounts
"Benchmark Input-Output Accounts for the U.S.
Economy, 1992" (November 1997 SURVEY)* describes
the preparation of the 1992 input-output accounts
and the concepts and methods underlying the U.S.
input-output accounts.
Gross state product
"Comprehensive Revision of Gross State Product by
Industry, 1977-94" (June 1997 SURVEY)* summarizes
the sources and methods for BEA'S estimates of gross
state product, kjjjjjj
BEA INFORMATION
The economic information prepared by the Bureau of Economic Analysis (BEA) is
available in news releases, in publications* on computer diskettes, on CAROM'S, and on
the Internet. For a description of these products in the free UserV Guide to BEA
Information* write to the Public Information Office, BE-SS, Bureau of Economic
Analysis, U.S. Department of Commerce, Washington, DC 20230, or call (202) 6069900. The User's Guide and other information are also available on BBAJS home page at
http://wwmbea.d0c,gov0
In-addition* the following publications are available from the Superintendent of
Documents of the Government Printing Office (GPO), To order, write to Superintendent of Documents, EO; Box 371954? Pittsburgh, PA 15250-7954, call (202) 512-1800
or fax (202) 512-2250. Pay by check to the Superintendent of Documents or charge to a
GPO deposit account, to VISA, or to MasterCard.
Benchmark Input-Output Accounts of the United States, 1987. (1994)
Presents summary and detailed make and use tables for industries and
commodities; tables showing commodity- and industry-output-re quire-ments per dollar of commodity demanded; and tables showing
the input-output (i-o) commodity composition of personal consumption expenditures and producers' durable equipment expenditures in
the national income and product accounts. Presents concepts and
methods used in the 1987 benchmark accounts; concordance beween i-o
and 1987 Standard Industrial Classification codes; description of the
components of the measures of output, intermediate inputs, and value
added; and mathematical derivation of total requirements tables, (46$
pages) $29,00? stock no, 003-010-00251-4.
Regional Multipliers: A User Handbook for the Regional Input- Out*
put Modeling System (RIMS n)» Third Edition. (1997) This handbook
describes the five types of EIMS n multipliers that are available for nearly
500 industries and for any county or for any group of counties. It details
the information that the users need in order to effectively use the EIMS n
multipliers to analyze the economic and industrial impact of public and
private projects and programs on State and local areas, The handbook
also includes case studies that illustrate the uses of the RIMS u multipliers
and a description of the methodology that the Bureau of Economic
Analysis uses to estimate the multipliers, (63 pages) $6,00, stock no. 003010-00264-6.
State Personal Income? 1929-93, (1995) Presents detailed annual estimates for States and regions of personal income for 1929-93, including
estimates of per capita personal income, personal Income by major
source, and earnings by industry. Also presents annual estimates of disposable personal income and per capita disposable personal income for
1948-93 and quarterly estimates of personal income for 1969-93. Provides information about the sources and methods used to prepare the
estimates for 1987-93 and samples of all the detailed tables of personal
income and employment that are available for regions, States, counties*
and metropolitan areas. (444 pages) $27.00, stock no, 003-010-00257-3.
Foreign Direct Investment in the United States: 1992 Benchmark Survey, Final Results* (1995) Presents detailed data on the financial structure and operations of U.S. affiliates of foreign direct investors, on the
foreign direct investment position in the United States, and on the balance-of-payments transactions between U.S. affiliates and their foreign
parent companies in 1992. Includes data for items, such as employment
covered by collective bargaining agreements and merchandise trade by
product and country of destination and origin, that are only collected in
benchmark surveys. Benchmark surveys are conducted every 5 years
and are BEA'S most comprehensive surveys in terms of both the number
of companies covered and the amount of information gathered. The
data are classified by industry of affiliate and by country of ultimate
beneficial owner, and selected data are classified by State. Provides information about the coverage, the concepts and definitions, and the
classifications used in the survey. (312 pages) $20.00, stock no. 003-01000259-0,
Foreign Direct Investment in the United States: Operations of U.S.
Affiliates of Foreign Companies, (1997) Two publications: One presents
the revised estimates for 1994, and the other, the preliminary estimates
for 1995 from BEA*S annual surveys of the financial structure and operations of nonbank U,S, affiliates of foreign direct investors. The estimates are presented by industry of the U.S. affiliate and by country 6f
the ultimate beneficial owner (UBO) and for selected estimates, by industry of UBO and by State. Preliminary 1995 Estimates (108 pages)
$8.50, stock no. 003-010-00268-9; Revised 1994 Estimates (108 pages)
$8,50, stock no, 003-010-00267-1,
Foreign Direct Investment In the United States: Establishment Data
for 1992. (1997) This publication, which presents the results of a project
by BEA and the Bureau of the Census, provides the most recently available
data on the number, employment, payroll, and shipments or sales of
foreign-owned U.S. establishments in more than 800 industries at the
Standard Industrial Classification four-digit level and by State and by
country of owner. Presents additional information—such as data on
value added, employee benefits, hourly wage rates of production workers, and expenditures for plant and equipment—for manufacturing
establishments* (364 pages) $28,00, stock no. 003-010-00265-4.
Foreign Direct Investment in the United States: Establishment Data
for Manufacturings 1991. (1994) A joint effort by BEA and the Bureau of
the Census. Presents the most recently available data for foreign-owned
U.S. manufacturing establishments (plants) by detailed industry (up to
459 industries), by State, and by country of investor. Includes data on
the number of plants, value added, shipments, employment, total employee compensation, employee benefits, the hourly wage rates of production workers, the cost of materials and energy used, inventories by
stage of fabrication, and expenditures for new plant and equipment.
(220 pages) $14.00, stock no. 003-010-00250-6,
U.S, Direct Investment Abroad: 1994 Benchmark Survey, Preliminary
Results, (1997) Presents preliminary results from the latest benchmark
survey of the worldwide operations of U.S. multinational companies.
Contains detailed 1994 data on the operations of U.S. parent companies
and their foreign affiliates in 103 tables organized by country and by
industry. {140 pages) $14,00, stock no. 003-010-00263-8.
U.S. Direct Investment Abroad: Operations of U*S, Parent Companies
and Their Foreign Affiliates, Preliminary 1995 Estimates, (1997) Provides revised results for 1995 from BEA'S annual survey of the worldwide
operations of U.S. multinational companies. Contains information on
the financial structure and operations of U.S. parent companies and
their foreign affiliates. Data are classified by country and industry of
affiliate and by industry of U.S. parent* (116 pages) $9.00, stock no. 003010-00270-1,
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Schedule of Upcoming BEA News Releases
Subject
Release
Date
U.S. International Trade in Goods and Services, November 1997
State Personal Income, 3rd quarter 1997
Gross Domestic Product, 4th quarter 1997 (advance)
* Jan. 21
Jan. 27
Jan. 30
Personal Income and Outlays, December 1997
U.S. International Trade in Goods and Services, December 1997
Gross Domestic Product, 4th quarter 1997 (preliminary)
Feb. 2
* Feb. 19
Feb. 27
Personal Income and Outlays, January 1998
U.S. International Transactions, 4th quarter 1997
U.S. International Trade in Goods and Services, January 1998
Gross Domestic Product, 4th quarter 1997 (final) and Corporate Profits, 4th quarter 1997
Personal Income and Outlays, February 1998
Mar. 2
Mar. 12
* Mar. 19
Mar. 26
Mar. 27
U.S. International Trade in Goods and Services, February 1998
State Personal Income, 4th quarter 1997 and Per Capita Personal Income, 1997 (preliminary)
Gross Domestic Product, ist quarter 1998 (advance)
* Joint release by the Bureau of the Census and BEA.
For information, call (202) 606-9900, Bureau of Economic Analysis, U.S. Department of Commerce.
Apr. 17
Apr. 27
Apr. 30
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