scb_091992

SEPTEMBER 1992 > VOLUME 72 NUMBER 9

SURVEY of CURRENT BUSINESS

^~P3

IN THIS ISSUE . . ,U.S. International Sales and Purchases of Services

U.S. DEPARTMENT OF COMMERCE ^

SEPTEMBER 1992 Acting] deputy Director

MamgitfgMitof;Publication Staff; vW, Roiinie Foster,

M. Cketcte Gtbsoij> Eric B, Manning,Donald

? Ctx&EENT BUSINESS. Publishedjitbly by the Barcau of Economic Analysis of the

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Ihe publicaôa of this periodical is necessary in thetransaction of the public business required by law ofthis Department

1 Business Situation3 Corporate Profits

5 National Income and Product Accounts5 Selected NIPA Tables

24 NIPA Charts26 Reconciliation and Other Special Tables27 Annual NIPA Revision: Newly Available Tables37 Errata38 Summary National Income and Product Accounts, 199140 Summary National Income and Product Series, 1959-91

48 Capital Expenditures by Majority-Owned Foreign Affiliatesof U.S. Companies, Latest Plans for 1992

56 U.S. International Transactions, Second Quarter 1992

82 U.S. International Sales and Purchases of Private Services U.S. Cross-Border Transactions, 1986-91 Sales by Affiliates, 1989-90

C-pages: Business Cycle Indicators(See page C-l for contents)

S-pages: Current Business Statistics(Seepage S-36for contents and subject index)

Inside back cover: BEA Information

NOTB,This issue of the SURVEY went to th^ printer on October 5,1992,It incorporates data froia the fottowirig monthly BBA news releases:

Gross Domestic Product (Sept 24),Personal Income and Outlays (Sept; 25), andComposite Indexes of Leading,, Coincident, and Lagging

Indicators (Sept 29).

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

September 1992 SURVEY OF CURRENT BUSINESS

T H E B U S I N E S S S I T U A T I O N

Daniel Larkinsprepared thisarticle.

HE "FINAL" estimate of growth in real gross2. domestic product (GDP) for the second

quarter of 1992 was 1.5 percent, o.i percentagepoint higher than the "preliminary" estimate re-ported in last month's SURVEY (table i).1 Smallupward revisions were made in personal con-sumption expenditures, residential and nonres-idential fixed investment, and net exports ofgoods and services; small downward revisionswere made in government purchases and in thechange in business inventories.

For real gross domestic purchases, the "fi-nal" estimate of a 34-percent increase is also o.ipercentage point higher than the "preliminary"estimate.

The "final" estimates of a 3.2-percent increasein the fixed-weighted price index for gross do-mestic purchases and of a 2.9-percent increase inthe fixed-weighted price index for GDP reflect up-ward revisions of 0.3 percentage point in bothindexes.

Gross national product (GNP).Real GNP in-creased 0.7 percent in the second quarter (ta-

i. Quarterly estimates in the national income and product accounts areexpressed at seasonally adjusted annual rates, and quarterly changes are differ-ences between these rates. Quarter-to-quarter percent changes areannualized.Real, or constant-dollar, estimates are expressed in 1987 dollars and are basedon 1987 weights.

Looking Ahead...

Historical NIPA Estimates. National Income and ProductAccounts of the United States: Volume 2, 1959-88 is now avail-able from the U.S. Government Printing Office. This volumecontains the complete set of NIPA estimates for 1959-88 re-sulting from the comprehensive revision released in December1991. Volume i, containing the complete set of NIPA estimatesfor 1929-58, will be available within the next few months. (Forinformation on ordering volume 2, see the inside back coverof this issue.)

Composite Indexes Revision. The annual revision of thecomposite indexes of leading, coincident, and lagging indica-tors will be presented in the October SURVEY. The indexes willbe revised from 1987 forward to incorporate revised data forthe component series.

ble 2). GNP equals GDP plus receipts of factorincome from the rest of the world less paymentsof factor income to the rest of the world. In thesecond quarter, receipts decreased and paymentsincreased. About two-thirds of the increase inpayments represented profits by U.S. affiliates offoreign corporations.

Table 1.Revisions in Selected Real NIPA Components,Second Quarter 1992

[Seasonally adjusted at annual rates]

Gross domestic product

Less' Exports of goods and servicesPlus' Imports of goods and services

Equals: Gross domestic purchases

Personal consumption expendituresDurablesNondurablesServices

Fixed investment . . ..NonresidentialResidential

Change in business inventoriesNonfarmFarm

Government purchasesFederalState and local

GDP price index (fixed weights)Gross domestic purchases price index (fixed

weights) '.

Billions of1987 dollars

Final esti-mate minuspreliminaryestimate

1.4

-.71 5

.7

1.11.0.32

2.5.9

1.6-1.4-2.4

1.1

-1.5-1.0-.4

Indexnumbers,

1987=100'

.1

.1

Percent changefrom preceding

quarter

Prelimi-nary es-timate

1.4

-.915.9

3.3

-.2-3.0-1.6

1.3

13.615.38.9

-.6-1.7

.1

2.6

2.9

Final es-timate

1.5-1.414.7

3.4

-.1-2.1-1.5

1.2

15.216.112.6

-1.2-2.7-.2

2.9

3.2

1. Not at annual rates.NOTE.Final estimates for the second quarter of 1992 incorporate the following revised or

additional major source data that were not available when the preliminary estimates wereprepared in August.

Personal consumption expenditures: Revised retail sales for June.Nonresidential fixed investment Revised construction put in place for May and June,

revised manufacturers' shipments of, equipment for June, and revised shipments of completecivilian aircraft for June.

Residential investment Revised construction put in place for May and June.Change in business inventories: Revised manufacturing and trade inventories for June.Net exports of goods and services: Revised merchandise exports and. impdfj '^for June and

revised exports and imports of services for the quarter... r.,, V"\f.'- ;^ -^'* t-v 'Government purchases of goods and,.,sert\ces\ 'Revised -State and local government

construction put in placeJoj^ May,andl.JuRe, :;./"-. 7-r _"_-..,?. -,^ ;'";V';' v\*" """"" : Se*i^ 1lomesti^ ,bWX'i|^ flS.>avnid profits;.,from;We'; rest of the world for

,ther- guaiter:-'-'

MPft NationaUjieon^aWB'-product accounts


2 September 1992 SURVEY OF CURRENT BUSINESS

In the estimation of real GNP, the current-dollar value of exports of goods and services isdeflated by export prices, the current-dollar valueof imports of goods and services is deflated byimport prices, and the current-dollar value ofmost factor income is deflated by the deflator fornet domestic product. An alternative measure,

command-basis GNP, reflects different deflationprocedures. In the estimation of command-basisGNP, the current-dollar value of exports of goodsand services and receipts of factor income isdeflated by the implicit price deflator for im-ports of goods and services and payments offactor income. Thus, command-basis GNP meas-

Hurricanes Andrew and Iniki

The national income and product accounts ( NIPA'S) are designedto fully reflect the impact of disasters such as Hurricane Andrew,which hit Florida and Louisiana in late August, and HurricaneIniki, which hit Hawaii in mid-September. Most of the effects ofthese hurricanes are reflected in the source data for the NIPA'S, andBEA prepares adjustments to certain components to account for therest of the hurricanes* effects. The effects of these adjustments onpersonal income and outlays, gross domestic product (GDP), andother NIPA aggregates are described in the following paragraphs;however, BEA will not attempt to quantify the total impact of thehurricanes on these aggregates.1

Personal income and outlays.The third-quarter estimates of per-sonal income and outlays will reflect adjustments that were madeto the monthly estimates for August and adjustments that will bemade to the September estimates.2 (These adjustments are basedprimarily on preliminary information from an insurance industrytrade association and are subject to revision as more complete in-formation becomes available.)

For August, three adjustments were made to personal incomeand two to personal outlays. In personal income, the largest ad-justment was to account for the destruction of residential dwellingsand of structures and equipment owned by unincorporated busi-nesses. This destruction of property reduces the rental income ofpersons and the proprietors' income components to the extent thatthe property was not insured. BEA has estimated that these unin-sured losses reduced rental income of persons by about $46 billionat an annual rate and proprietors' income by about $7 billion atan annual rate.3 The second adjustment was to account for thedestruction of crops, which reduced farm proprietors' income byabout $2 billion. The third adjustment was to account for workinterruptions, which reduced wages and salaries by about $5 bil-lion. This adjustment was necessary because the regular sourcedata on employment, hours, and earnings are from the Bureauof Labor Statistics monthly establishment survey, which covers themid-month pay period; thus, for August, these data did not re-flect the work interruptions that resulted from Hurricane Andrew.In personal outlays, the property insurance component of personalconsumption expenditures (PCE) was adjusted downward by about$15 billion. This component is defined as premiums less benefitpayments, and payments were adjusted upward to reflect insured

1. For several reasons, it would be very difficult to determine the total impact ofhurricanes Andrew and Iniki on the NIPA aggregates. First, most of the effects areembedded in the source data and cannot easily be separated. Second, as in previousdisasters, reductions in production and incomes in the areas hit by the two hurricanesmay be at least partly offset by increases in production and incomes elsewhere in theUnited States. Third, production and incomes in the damaged areas may be boostedby subsequent rebuilding efforts.

2. The monthly estimates of personal income and outlays are found on page S-i ofthe "Current Business Statistics" section of this issue.

3. All subsequent dollar amounts are also expressed at annual rates.

losses of personal property and motor vehicles. There was also aslight downward adjustmentto PCE to reflect lost rental paymentsdue to the destruction of rental and owner-occupied housing units.

For September, further adjustments will be made to personal in-come and to personal outlays, mainly to account for the effectsof Hurricane Iniki. In personal income, rental income of personsand proprietors' income will be reduced to reflect uninsured losses,and farm proprietors' income will be reduced to the extent thatthe destruction of crops will lower sales in September. In personaloutlays, PCE will be adjusted downward to reflect lost rental pay-ments due to the destruction of rental and owner-occupied housingunits by both hurricanes. Adjustments for payments of propertyinsurance benefits will be made only for damages due to HurricaneIniki; further adjustments for Hurricane Andrew will not be neces-sary because such benefits are recorded only in the period in whichthe loss occurs, regardless of when the payments are actually made.

GDP.The third-quarter estimate of GDP will be affected by the ad-justments to PCE described above. In addition, imports of serviceswill be adjusted downward to the extent that domestic insurers havereinsurance policies with foreign insurers. As in PCE, imports ofinsurance services are defined as premiums less benefit payments.(The adjustments to the insurance services components of PCE andimports are made only to current-dollar estimates; no adjustmentsare made to the corresponding constant-dollar estimates becausethese estimates are based only on premiums paid.)

Other NIPA aggregates.The third-quarter estimates of national in-come, gross national income, and net national product will alsoreflect adjustments for the two hurricanes.4 National income willbe reduced by the adjustments, described above, to proprietors'income, rental income of persons, and wages and salaries. In ad-dition, corporate profits will be adjusted downward to account foruninsured property losses and to reflect the payments of all benefitsrelated to hurricane damage, except those reinsured with foreigncarriers.5 For gross national income, the reductions in businessincomes (except for the payments to persons for losses to personalproperty and motor vehicles and for the amount reinsured abroad)will be offset by an upward adjustment in consumption of fixedcapital; this adjustment reflects the writing off of the depreciated(or net) value of plant and equipment destroyed by the hurricanes.Net national product will be reduced by the adjustment to theconsumption of fixed capital.

4. See table 1.9 of the "Selected NIPA Tables" for the relationship between GDP, netdomestic product, gross national income, national income, and personal income.

5. As usual, the initial third-quarter estimates of corporate profitsand thus ofgross national income and national incomewill be released in late November as partof the "preliminary" NIPA estimates.


SURVEY OF CURRENT BUSINESS September 1992 3

ures U.S. production in terms of its purchasingpower. In the second quarter, command-basisGNP increased less than GNP0.3 percent com-pared with 0.7 percentreflecting a deteriorationin the terms of trade; in the first quarter,command-basis GNP increased more than GNP4.3 percent compared with 3.6 percentreflectingan improvement in the terms of trade.

Corporate Profits

Profits from current productionprofits beforetax plus inventory valuation adjustment (IVA)and capital consumption adjustment (ccAdj)increased $4.4 billion in the second quarter afterincreasing $36.9 billion in the first (table 3). Prof-its from the domestic operations of nonfinancialcorporations increased $20.5 billion, about thesame amount as in the first quarter; in both quar-ters, unit profits increased, reflecting higher unitprices and lower unit labor and nonlabor costs.Profits from the domestic operations of financialcorporations decreased $8.4 billion after increas-ing $10.7 billion, and profits from the rest of theworld decreased $7.7 billion after increasing $5.8billion.

Cash flow from current production, a profits-related measure of internally generated fundsavailable to corporations for investment, de-

Table 2.Relation of Gross Domestic Product, GrossNational Product, and Command-Basis Gross NationalProduct in Constant Dollars

[Seasonally adjusted at annual rates]

Gross domestic productPlus: Receipts of factor

income from the rest ofthe world

Less: Payments of factorincome to the rest of theworld

Equals: Gross nationalproduct

Less: Exports of goods andservices and receipts offactor income from the restof the world

Plus: Command-basis exportsof goods and services andreceipts of factor income ..

Equals: Command-basisgross national product ...

Addendum:Terms of trade }

Billions of 1987 dollars

Level

1992:11

4,892.4

107.6

101.0

4,899.1

671.0

681.2

4,909.2

101.5

Change from pre-ceding quarter

1992:1

35.2

-1.1

-8.3

42.5

2.8

11.7

51.4

1.3

1992:11

18.7

-2.1

8.3

8.4

-4.0

-8.7

3.6

-.7

Percent changefrom preceding

quarter

1992:1

2.9

-3.9

-29.2

3.6

1.7

7.1

4.3

5.3

1992:11

1.5

-7.4

40.9

7

-2.3

-4.9

.3

-2.7

creased $1.2 billion after increasing $25.5 billion.Cash flow as a percentage of nonresidentialfixed investment decreased to 88.8 percent from92.3 percent but remained high by historicalstandards; during the 1982-90 business cycleexpansion, the ratio never rose above 83 percent.

Profits by industry.Profits before tax with IVAis the best measure of industry profits becauseestimates of the ccAdj by industry are not avail-able. According to this measure, profits arisingfrom domestic operations of nonfinancial cor-porations increased $17.1 billion after increasing$11.4 billion.

Manufacturing profits increased $17.7 billionafter increasing $10.0 billion. The largest in-creases were in motor vehicles, food, and "othernondurables," which largely reflected higherprofits in printing and publishing and in apparel.Only electronic equipment and chemicals postedlower profits in the second quarter than in thefirst.

Profits in trade increased in the second quarterafter decreasing in the first; most of the increase

Table 3.Corporate Profits[Seasonally adjusted at annual rates]

1. Ratio of the implicit price deflator for exports of goods and services and receipts of factorincome to the corresponding implicit price deflator for imports with the decimal point shifted twoplaces to the right.

NOTELevels of these series are found in tables 1.10 and 1.11 of the "Selected NIPATables."

Profits from current productionDomestic

FinancialNonfinancial

Rest of the worldI V A . . . .CCAdjProfits before tax

Profits tax liabilityProfits after tax . .

Profits by industry:Profits before tax with IVA

DomesticFinancialNonfinancial

ManufacturingTradeTransportation and public utilitiesOther

Rest of the worldReceipts (inflows)Payments (outflows)

Unit prices, costs, and profits of domesticnonfinancial corporations:Unit priceUnit labor costUnit nonlabor costUnit profits from current production . . .

Level

1992:11

Change frompreceding

quarter

1992:1 1992:11

Billions of dollars

388.4327.4

51.2276.2

61.0

-15.527.0

376.8144.1232.7

361.4300.4

61.3239.0115.246.742.235.061.067.16.1

36.931.110.720.4

5.8

-6.19.2

33.811.422.3

27.621.810.411.410.0-4.6

3.82.25.88.02.2

4.412.1-8.420.5-7.7

-10.13.7

10.77.73.0

.78.4

-8.817.117.76.8

-7.2-.17707.7

Dollars

1.151.759.292.100

0.003-.001-.002

.007

0.005-.001

001.007

NOTE.Levels of these and other profits series are found in tables 1.14, 1.16. 6.16C, and7.15 of the "Selected NIPA Tables."

IVA Inventory valuation adjustmentCCAdj Capital consumption adjustment



was at the wholesale level. Profits in trans-portation and public utilities decreased after anincrease; much of the decrease was accounted forby railroads.

Profits arising from domestic operations of fi-nancial corporations decreased $8.8 billion afterincreasing $10.4 billion. Most of the decrease wasaccounted for by savings and loan associationsand insurance companies.

Profits from the rest of the world de-creased $7.7 billion after increasing $5.8 bil-lion. This component of profits meas-ures receipts of profits from foreign affili-ates of U.S. corporations less payments ofprofits by U.S. affiliates of foreign corpora-tions. In the second quarter, receipts wereunchanged, and payments increased substan-tially. The increase in payments largely re-flected higher payments by banking and tradeaffiliates.

Profits before tax (PBT) and related measures.PBT increased $10.7 billion in the second quarter.The difference between this increase and the$4.4 billion increase in profits from current pro-duction reflects changes in the IVA and in theCCAdj.

The IVA is an estimate of inventory profits withthe sign reversed. Inventory profits increased$10.1 billion, reflecting an upswing in prices ofinventoried goods. The Producer Price Index, amajor source for inventory prices, increased atan annual rate of 4.1 percent (not seasonally ad-justed) in the second quarter after decreasing 1.1percent in the first.

The CCAdj is the difference between the pre-dominantly tax-based depreciation measure thatunderlies PBT and BEA'S estimate of the consump-tion of fixed capital. The CCAdj increased $3.7billion in the second quarter after increasing $9.2billion in the first. H


September 3992 SURVEY OF CURRENT BUSINESS

N A T I O N A L I N C O M E A N D P R O D U C T A C C O U N T S

Selected NIPA TablesNew estimates in this issue: Second quarter 1992, final.The selected set of national income and product accounts (NIPA) tables shown in this section presents quar-

terly estimates, which are updated monthly. (In most tables, the annual estimates are also shown.) Alternativequantity and price measures are not yet available; leaders are shown for these parts.

The tables shown are available on the day of the gross domestic product (GDP) news release on printoutsand diskettes on a subscription basis or from the Commerce Department's Economic Bulletin Board. Mostshown in this section are available, beginning with 1959, on diskette or magnetic tape. For order information,write to the National Income and Wealth Division (BE-54), Bureau of Economic Analysis, Washington, DC 20230,or call (202) 523-0669.

NOTE.This section of the SURVEY is prepared by the National Income and Wealth Division and theGovernment Division.

Table 1.1 .Gross Domestic Product[Billions of dollars]

Gross domesticproduct

Personal consumptionexpenditures ..Durablo goodsNondurable goodsServices .

Gross private domesticinvestmentFixed investment

NonresidentialStructuresProducers' durable

equipmentResidential

Change in businessinventoriesNonfarmFarm

Net exports of goods andservicesExports ..Imports

Government purchasesFederal

National defenseNondefense

State and local

1990

5,522.2

3,748.4

464.31,224.52,059.7

799.5

793.2577.6201.1

376.5215.6

6.33.33.1

-68.9

557.0625.9

1,043.2

426.4314.0112.4616.8

1991

5,677.5

3,887.7

446.11,251.52,190.1

721.1

731.3541.1180.1

360.9190.3

-10.2-10.3

0

-21.8

598.2620.0

1,090.5

447.3323.8123.6643.2

Seasonally adjusted at annual rates1991

I

5,585.8

3,821.7

439.51,245.02,137.2

705.4

733.9551.4190.0

361.4182.6

285-27.4-1.1

-28.7

573.2602.0

1,087.5

451.3332.4118.8636.3

II

5,657.6

3,871.9

441.41,254.22,176.3

710.2

732.0545.8185.2

360.6186.2

-21.8-27.0

5.2

-15.3

594.3609.6

1,090.8

449.9325.9124.0640.8

III

5,713.1

3,914.2

453.01,255.32,205.9

732.8

732.6538.4175.6

362.8194.2

.2-1.2

1.4

-27.1

602.3629.5

1,093.3

447.2321.9125.3646.0

IV

5,753.3

3,942.9

450.41,251.42,241.1

736.1

726.9528.7169.7

358.9198.2

9.214.5-5.3

-16.0

622.9638.9

1,090.3

440.8314.7126.1649.5

1992

I

5,840.2

4,022.8

469.41,274.12,279.3

722.4

738.2531.0170.1

360.8207.2

-15.8-13.3-2.4

-8.1

628.1636.2

1,103.1

445.0313.6131.4658.0

II

5,902.2

4,057.1

470.61,277.52,309.0

773.2

765.1550.3170.3

380.0214.8

8.16.41.7

-37.1

625.4662.5

1,109.1

444.8311.7133.1664.3

Table 1.2.Gross Domestic Product in Constant Dollars[Billions of 1987 dollars]


Personal consumptionexpendituresDurable goods .Nondurable goodsServices

Gross private domesticinvestmentFixed investment

NonresidentialStructuresProducers' durable

equipment . . .Residential

Change in businessinventoriesNonfarmFarm

Net exports of goods andservices . .ExportsImports


National defenseNondefense . .

State and local

1990

4,877.5

3,260.4

439.31,056.51,764.6

739.1

732.9538.1179.1

359.0194.8

6.23.72.5

-51.8

510.0561.8

929.9

383.6283.3100.3546.3

1991

4,821.0

3,240.8

414.71,042.41,783.7

661.1

670.4500.2157.6

342.6170.2

-9.3-9.6

.3

-21.8

539.4561.2

941.0

388.3282.8105.5552.7


I

4,796.7

3,223.5

412.01,043.01,768.5

646.0

671.1507.0166.8

340.2164.1

-25.1-24.7

-.4

-17.9

515.9533.8

945.1

394.1291.8102.2551.0

II

4,817.1

3,239.3

411.31,046.31,781.8

649.5

669.8503.0162.2

340.8166.9

-20.4-24.5

4.1

-17.4

536.1553.5

945.6

393.8287.6106.2551.8

III

4,831.8

3,251.2

419.41,044.81,787.0

672.0

671.4498.7153.0

345.8172.6

.6-1.0

1.6

-31.6

544.2575.8

940.2

387.2280.6106.6553.0

IV

4,838.5

3,249.0

416.11,035.61,797.4

676.9

669.3492.1148.4

343.7177.3

7.511.8-4.2

-20.5561.4581.8

933.1

378.2271.0107.2554.9

1992

I

4,873.7

3,289.3

432.31,049.61,807.3

668.9

681.4495.8149.4

346.4185.6

-12.6-10.7-1.9

-21.5

565.4586.8

937.0

375.3265.6109.7561.8

II

4,892.4

3,288.5

430.01,045.61,812.9

713.6

705.9514.7149.1

365.6191.2

7.86.01.8

-43.9

563.4607.3

934.2

372.7262.1110.6561.5

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



Table 1.3.Gross Domestic Product by Major Type of Product[Billions of dollars]


Final sales of domesticproduct

Change in businessinventories

Goods ]

Final salesChange in business

inventoriesDurable goods

Final sales . .Change in business

inventoriesNondurable goods


inventoriesServices }

Structures

1990

5,522.2

5,515.9

6.32,166.42,160.0

6.3919.7920.6

-.91,246.71,239.5

7.22,846.4

509.4

1991

5,677.5

5,687.7

-10.22,182.52,192.7

-10.2888.4907.6

1921,294.11,285.1

9.03,030.2

464.7


I

5,585.8

56144

-28.52,158.32,186.8

285861.9897.3

-35.41,296.31,289.5

6.82,963.3

464.3

II

5,657.6

56794

-21.82,179.12,200.9

-21.8890.2916.8

-26.51,288.91,284.1

4.83,013.8

464.7

III

5,713.1

57129

.22,195.12,194.9

.2903.8910.8

-7.01,291.31,284.1

7.23,053.6

464.4

IV

5,753.3

57442

9.22,197.62,188.4

9.2897.6905.7

-8.11,300.01,282.7

17.33,090.3

465.5

1992

I

5,840.2

58559

-15.82,217.82,233.6

158904.3923.6

-19.31,313.51,310.0

3.53,142.2

480.1

II

5,902.2

58941

8.12,241.32,233.2

8.1941.8932.3

9.51,299.51,300.8

-1.43,173.4

487.6

1. Exports and imports of certain goods, primarily military equipmentGovernment, are included in services.

NOTEPercent changes from preceding period for selected items in this

purchased and sold by the Federal

table are shown in table 8.1.

Table 1.5.Relation of Gross Domestic Product, Gross DomesticPurchases, and Final Sales to Domestic Purchasers

[Billions of dollars]

Gross domestic productLess: Exports of goods and

servicesPlus: Imports of goods and

servicesEquals: Gross domestic

purchases *Less: Change in business

inventoriesEquals: Final sales to

domestic purchasers 2

5,522.2

557.0

6259

5,591.1

63

5,584.8

5,677.5

598.2

6200

5,699.3

-102

5,709.5

5,585.8

573.2

6020

5,614.6

-285

5,643.1

5,657.6

594.3

6096

5,672.9

-21 8

5,694.7

5,713.1

602.3

6295

5,740.3

2

5,740.1

5,753.3

622.9

6389

5,769.3

92

5,760.1

5,840.2

628.1

6362

5,848.3

158

5,864.1

5,902.2

625.4

6625

5,939.4

81

5,931.3

1. Purchases by U.S. residents of goods and services wherever produced.2. Final sales to U.S. residents of goods and services wherever produced.NOTEPercent changes from preceding period for selected items in this table are shown in table 8.1.

Table 1.7.Gross Domestic Product by Sector[Billions of dollars]


BusinessNonfarm

Nonfarm less housing ....Housing

FarmStatistical discrepancy

Households and institutionsPrivate householdsNonprofit institutions

General governmentFederalState and local

Addendum:Gross domestic business

product less housing

5,522.24,702.8461244,162.8

449.685.05.4

227.894

218.4591.61803411 4

4,248.7

5,677.54,803.8470284,229.8

473.079.121.9

246.192

236.9627.619204356

4,326.3

5,585.84,726.2463584,171.1

464.777.013.4

237.490

228.4622.219334289

5,657.64,786.7467714,207.3

469.882.527.1

244.192

234.8626.819244345

5,713.14,835.2472554,251.4

474.179.230.5

249.392

240.0628.7191 34374

5,753.34,867.24 772.94,289.5

483.477.916.4

253.59.3

244.2632.7191 1441.6

5,840.24,937.44,826.94,341.1

485.881.629.0

258.394

248.9644.41982446.2

5,902.24,988.64 877.64,386.9

490.780.130.9

261.59.6

251.9652.2198.7453.5

Table 1.4.Gross Domestic Product by Major Type of Productin Constant Dollars

[Billions of 1987 dollars]

Gross domesticproduct . .

Final sales of domesticproduct

Change in businessinventories

Goods 'Final salesChange in business

inventoriesDurable goods


inventories .. ..Nondurable goods


inventoriesServices 'Structures

1990

4,877.5

4,871.3

6.21,956.81,950.7

6.2880.3881.0

-.71,076.61,069.7

6.92,463.0

457.7

1991

4,821.0

4,830.3

-9.31,911.21,920.5

-9.3834.1851.6

-17.51,077.11,069.0

8.22,497.6

412.2


I

4,796.7

4,821.8

25 1

1,903.11,928.2

-25.1815.3847.4

-32.21,087.81,080.8

7.12,480.5

413.2

II

4,817.1

4,837.4

204

1,907.61,928.0

-20.4836.3860.2

-24.01,071.41,067.8

3.62,497.3

412.1

III

4,831.8

4,831.2

.61,918.31,917.7

.6845.3851.7

-6.41,073.01,066.0

7.02,503.7

409.8

IV

4,838.5

4,830.9

7.51,915.71,908.2

7.5839.4846.8

-7.41,076.31,061.3

15.02,509.0

413.7

1992

I

4,873.7

4,886.3

1261,924.01,936.6

-12.6842.4859.6

-17.31,081.71,077.0

4.72,520.1

429.5

II

4,892.4

4,884.6

7.81,936.71,929.0

7.8874.2865.7

8.61,062.51,063.3

-.82,522.4

433.3

1. Exports and imports of certain goods, primarily military equipmentGovernment, are included in services.

NOTE.Percent changes from preceding period for selected items in this

purchased and sold by the Federal

table are shown in table 8.1.

Table 1.6.Relation of Gross Domestic Product, Gross DomesticPurchases, and Final Sales to Domestic Purchasers in ConstantDollars


Gross domestic productLess: Exports of goods and

servicesPlus: Imports of goods and

servicesEquals: Gross domestic

purchases l

Less: Change in businessinventories

Equals: Final sales todomestic purchasers -

4,877.5

5100

561.8

4,929.3

62

4,923.1

4,821.0

539.4

561.2

4,842.8

-93

4,852.1

4,796.7

515.9

533.8

4,814.6

-251

4,839.7

4,817.1

5361

553.5

4,834.4

-204

4,854.8

4,831.8

5442

575.8

4,863.4

6

4,862.8

4,838.5

561.4

581.8

4,858.9

75

4,851.4

4,873.7

5654

586.8

4,895.2

-126

4,907.7

4,892.4

5634

607.3

4,936.3

78

4,928.5

1. Purchases by U.S. residents of goods and services wherever produced.2. Final sales to U.S. residents of goods and services wherever produced.NOTE.Percent changes from preceding period for selected items in this table are shown in table 8.1.

Table 1.8.Gross Domestic Product by Sector in Constant Dollars[Billions of 1987 dollars]


BusinessNonfarm

Nonfarm less housing ....Housing ..

FarmStatistical discrepancy

Households and institutionsPrivate householdsNonprofit institutions

General governmentFederalState and local

Addendum:Gross domestic business

product less housing

4,877.54,170.14,094.73,704.3

39047054.9

197.788

188.8509.8156.3353.5

3,775.8

4,821.04,103.94,015.83,621.0

394.969.418.7

202.48.2

194.2514.7157.1357.5

3,705.2

4,796.74,078.23,998.33,604.8

393.568.311.5

200.08.2

191.8518.5161.1357.4

4,817.14,098.34,007.13,612.6

394568.023.2

201.98.3

193.5516.9158.6358.3

4,831.84,116.14,021.63,626.1

395.568.526.0

203.18.3

194.9512.6155.5357.1

4,838.54,123.14,036.33,640.3

396.072.813.9

204.88.2

196.6510.6153.4357.3

4,873.74,156.84,058.83,661.1

397.673.624.4

206.78.3

198.4510.3152.5357.7

4,892.44,174.44,076.13,677.0

399.172.525.9

206.78.4

198.3511.3151.8359.5


SURVEY OF CURRENT BUSINESS September 1992

Table 1.9.Relation of Gross Domestic Product, Gross NationalProduct, Net National Product, National Income, and PersonalIncome



income from the rest of theworld ]

Less: Payments of factorincome to the rest of theworld2


Less: Consumption of fixedcapital

Capitalconsumptionallowances

Less: Capitalconsumption

. adjustmentEquals: Net national productLess: Indirect business tax

and nontax liabilityBusiness transfer

paymentsStatistical discrepancy

Plus: Subsidies less currentsurplus of governmententerprises

Equals: National incomeLess: Corporate profits with

inventory valuation andcapital consumptionadjustments

Net interestContributions for

social insuranceWage accruals less

disbursementsPlus: Personal interest income

Personal dividendincome

Government transferpayments topersons

Business transferpayments topersons

Equals: Personal incomeAddenda:

Net domestic productDomestic incomeGross national income

1990

5,522.2

160.6

139.9

5,542.9

602.8

566.2

-36.64,940.1

444.2

26.45.4

4.2

4,468.3

361.7460.7

502.3

.1694.5

140.3

664.6

21.2

4,664.2

4,919.44,447.65,537.5

1991

5,677.5

143.5

126.0

5,694.9

626.1

574.2

-51.95,068.8

475.2

28.121.9

.5

4,544.2

346.3449.5

528.8

_ -|700^6

137.0

748.3

22.8

4,828.3

5,051.44,526.75,673.1

Seasonally adjusted at annual rates

1991

I

5,585.8

159.8

130.8

5,614.9

618.9

563.8

-55.24,996.0

464.7

27.313.4

2.5

4,493.0

349.6456.2

521.5

.2701.1

141.3

722.8

22.1

4,752.8

4,966.94,463.95,601.5

II

5,657.6

143.2

126.5

5,674.3

623.5

568.5

-54.95,050.9

468.2

27.927.1

1.6

4,529.2

347.3444.4

526.5

-.4696.2

136.7

739.8

22.6

4,806.9

5,034.24,512.55,647.2

III

5,713.1

137.8

124.5

5,726.4

624.9

576.4

-48.55,101.5

480.0

28.430.5

-7.1

4,555.4

341.2450.5

532.1

0701.8

135.6

754.0

23.1

4,846.2

5,088.24,542.25,695.9

IV

5,753.3

133.1

122.3

5,764.1

637.1

588.2

-48.85,127.0

487.9

28.616.4

5.1

4,599.1

347.1446.9

535.2

0703.3

134.3

776.5

23.3

4,907.2

5,116.34,588.45,747.7

1992

I

5,840.2

132.9

113.3

5,859.8

631.4

598.0

-33.55,228.3

493.8

29.429.0

3.2

4,679.4

384.0430.0

546.2

0684.8

133.9

818.6

24.1

4,980.5

5,208.74,659.85,830.8

II

5,902.2

131.3

124.3

5,909.3

638.2

608.9

-29.35,271.1

497.6

29.830.9

3.6

4,716.5

388.4420.0

550.8

0675.2

136.6

835.3

24.4

5,028.9

5,264.14,709.55,878.4

1. Consists largely of receipts by U.S. residents ofaffiliates of U.S. corporations.

2. Consists largely of payments to foreign residentsaffiliates of foreign corporations.

interest and dividends and reinvested earnings of foreign

of interest and dividends and reinvested earnings of U.S.

Table 1.10.Relation of Gross Domestic Product, Gross NationalProduct, Net National Product, and National Income in ConstantDollars



income from the rest of theworld1

Less: Payments of factorincome to the rest of theworld 2


Less: Consumption of fixedcapital

Equals: Net national productLess: Indirect business tax

and nontax liability plusbusiness transfer paymentsless subsidies plus currentsurplus of governmententerprises

Statistical discrepancyEquals: National incomeAddenda:

Net domestic productDomestic incomeGross national income

1990

4,877.5

141.1

122.6

4,895.9

554.9

4,341.0

396.54.9

3,939.7

4,322.63,921.24,891.0

1991

4,821.0

120.8

105.4

4,836.4

569.3

4,267.2

391.618.7

3,856.9

4,251.73,841.54,817.8


1991

I

4,796.7

136.2

110.9

4,822.0

562.5

4,259.4

387.711.5

3,860.2

4,234.13,834.94,810.4

II

4,817.1

120.9

106.2

4,831.8

565.8

4,266.0

393.123.2

3,849.6

4,251.23,834.94,808.6

III

4,831.8

115.4

103.6

4,843.7

569.6

4,274.1

394.326.0

3,853.8

4,262.33,842.04,817.7

IV

4,838.5

110.8

101.0

4,848.2

579.1

4,269.1

391.313.9

3,863.9

4,259.43,854.24,834.3

1992

I

4,873.7

109.7

92.7

4,890.7

576.4

4,314.3

396.324.4

3,893.6

4,297.33,876.64,866.3

II

4,892.4

107.6

101.0

4,899.1

578.0

4,321.1

399.525.9

3,895.8

4,314.43,889.14,873.2

1. Consists largely of receipts by U.S. residents ofaffiliates of U.S. corporations.

2. Consists largely of payments to foreign residentsaffiliates of foreign corporations.

interest .and dividends and reinvested earnings of foreign

of interest and dividends and reinvested earnings of U.S.

Table 1.11.Command-Basis Gross National Product in ConstantDollars


Gross national productLess: Exports of goods and

services and receipts offactor income from the restof the world

Plus: Command-basis exportsof goods and services andreceipts of factor income ] .

Equals: Command-basisgross national product ....

Addendum:Terms of trade2

4,895.9

651.0

641.4

4,886.3

98.5

4,836.4

660.2

662.8

4,838.9

100.4

4,822.0

6522

645.0

4,814.8

98.9

4,831.8

6570

660.9

4,835.7

100.6

4,843.7

659.6

666.8

4,850.9

101.1

4,848.2

672.2

678.2

4,854.2

100.9

4,890.7

675.0

689.9

4,905.6

102.2

4,899.1

671.0

681.2

4,909.2

101.5

1. Exports of goods and services and receipts of factor income deflated by the implicit price deflator forimports 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 thecorresponding implicit price deflator for imports with the decimal point shifted two places to the right.

NOTE.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[Billions of dollars]

National incomeCompensation of employees

Wages and salariesGovernmentOther

Supplements to wages andsalariesEmployer contributions

for social insurance ...Other labor income

Proprietors' income withIVA and CCAdjFarm

Proprietors' income withIVA

CCAdi . . ..Nonfarm

Proprietors' incomeIVACCAdj

Rental income of personswith CCAdjRental income of persons ..CCAdi

Corporate profits with IVAand CCAdjCorporate profits with IVA ..

Profits before taxProfits tax liabilityProfits after tax -.

DividendsUndistributed profits

IVACCAdj

Net interestAddenda:

Corporate profits after taxwith IVA and CCAdjNet cash flow with IVA

and CAdjUndistributed profits

with IVA and CCAdjConsumption of fixed

capitalLess: IVAEquals: Net cash flow ....

1990

4,468.33,291.2

2,742.9514.8

2,228.0

548.4

277.4271.0

366.941.7

49.5-7.8

325.2310.0

-.816.0

-12.3

44.6-56.9

361.7

341.2355.4136.7218.7149.3

69.4-14.2

20.5

460.7

225.1

444.0

75.7

368.3-14.2458.1

1991

4,544.2

3,390.82,812.2

543.52,268.7

578.7

290.4288.3

368.035.8

43.4-7.6

332.2318.7

-.313.8

10.4

47.5-57.9

346.3337.8334.7124.0210.7146.564.2

3.1

8.4

449.5

222.3

458.8

75.8

383.03.1

455.6


I

4,493.03,343.02,774.9

539.92,235.0

568.1

286.6281.5

356.534.3

42.0-7.7

322.2310.2

-.312.4

-12.4

44.0-56.4

349.6344.2337.6121.3216.3150.6

65.76.7

5.3

456.2

228.3

457.4

77.7

379.76.7

450.7

II

4,529.23,379.62,804.3

543.42,260.9

575.2

289.1286.1

370.441.3

48.9-7.6

329.1316.5

-.312.9

-12.3

44.3-56.6

347.3342.2332.3122.9209.4146.2

63.29.9

5.1

444.4

224.4

460.6

78.1

382.59.9

450.7

III

4,555.4

3,407.02,824.4

544.32,280.0

582.6

292.0290.6

367.1

29.5

37.1-7.6

337.6322.4

-.515.6

-10.3

47.0-57.3

341.2

331.9336.7127.0209.6145.1

64.5-4.8

9.3

450.5

214.2

452.5

69.0

383.5-4.8

457.3

IV

4,599.13,433.82,845.0

546.42,298.6

588.7

293.7295.0

377.937.9

45.4-7.5

340.0325.6

-.114.4

-6.6

54.7-61.3

347.1

333.1332.3125.0207.4143.9

63.4.7

14.1

446.9

222.2

464.6

78.3

386.3.7

463.9

1992

I

4,679.43,476.32,877.6

554.62,323.0

598.7

299.4299.2

393.640.1

47.5-7.4

353.6339.1

-.815.2

-4.5

51.7-56.2

384.0360.7366.1136.4229.7143.6

86.2-5.4

23.3

430.0

247.6

490.1

104.0

386.1. -5.4

495.6

II

4,716.53,506.32,901.3

561.42,339.9

605.0

301.5303.6

398.438.5

45.8-7.3

359.9344.8-1.016.1

3.3

60.0-56.6

388.4361.4376.8144.1232.7146.6

86.1-15.5

27.0

420.0

244.3

488.9

97.7

391.2-15.5504.3

Table 1.16.Gross Domestic Product of Corporate Business inCurrent Dollars and Gross Domestic Product of NonfinancialCorporate Business in Current and Constant Dollars

CCAdj Capital consumption adjustmentIVA Inventory valuation adjustment

Gross domesticproduct of corporatebusiness

Consumption of fixed capital ..Net domestic product

Indirect business tax andnontax liability plusbusiness transferpayments less subsidies

Domestic incomeCompensation of

employeesWages and salaries ...Supplements to wages

and salaries . . ..Corporate profits with

IVA and CCAdjProfits before tax

Profits tax liability ..Profits after tax

DividendsUndistributed

profitsIVA . .. .CCAdj

Net interestGross domestic

product of financialcorporate business ..

Gross domesticproduct ofnonfinancialcorporate business ..



Domestic incomeCompensation of

employeesWages and salaries ...Supplements to wages

and salariesCorporate profits with

IVA and CCAdjProfits before tax

Profits tax liability ..Profits after tax

DividendsUndistributed

profitsIVACCAdj

Net interest

Gross domesticproduct ofnonfinancialcorporate business ..



Domestic income ..

1990 1991


I II III IV

1992

I II

Billions of dollars

3,308.3368.3

2,940.0

318.8

2,621.2

2,182.81,833.9

348.9

296.0289.7136.7153.0129.3

23.7-14.2

20.5142.4

271.8

3,036.5

329.32,707.2

290.92,416.3

2,019.01,695.1

323.9

248.3232.9

92.8140.2118.5

21.6-14.2

29.5149.0

3,352.2383.0

2,969.2

342.22,627.0

2,219.51,855.8

363.7

279.8268.2124.0144.2128.3

15.93.18.4

127.7

278.4

3,073.8341.2

2,732.6

310.8

2,421.8

2,048.61,711.3

337.3

229.9207.3

81.1126.2117.3

8.83.1

19.4143.4

3,311.6379.7

2,931.9

334.32,597.6

2,189.51,834.2

355.3

274.7262.7121.3141.5131.0

10.56.75.3

133.4

274.5

3,037.1

338.92,698.2

304.1

2,394.2

2,022.11,692.5

329.6

226.2203.1

78.8124.2119.0

5.26.7

16.5145.9

3,340.1382.5

2,957.6

336.4

2,621.3

2,212.41,850.7

361.7

280.9265.9122.9143.1126.7

16.49.95.1

127.9

277.4

3,062.7

341.02,721.7

305.52,416.2

2,042.01,706.6

335.4

231.4205.2

80.3124.9115.5

9.39.9

16.2142.9

3,365.8383.5

2,982.3

346.82,635.5

2,230.31,863.3

367.0

279.3274.7127.0147.7123.6

24.1-4.8

9.3125.9

281.4

3,084.4

341.5

2,742.9

314.7

2,428.2

2,058.61,718.2

340.5

226.5211.2

83.3127.9113.9

14.1-4.820.1

143.0

3,391.5386.3

3,005.1

351.5

2,653.7

2,245.71,874.9

370.9

284.2269.4125.0144.5131.9

12.6.7

14.1123.7

280.4

3,111.1

343.52,767.5

318.7

2,448.8

2,071.81,727.9

343.9

235.3209.7

82.1127.6120.9

6.7.7

24.8141.7

3,437.3386.1

3,051.2

355.72,695.5

2,261.41,890.6

370.8

315.3297.4136.4161.0116.6

44.4-5.423.3

118.7

299.2

3,138.1342.7

2,795.4

322.62,472.8

2,081.01,738.0

343.0

255.7227.3

90.2137.1107.1

30.1-5.433.8

136.0

3,471.4391.2

3,080.2

357.52,722.7

2,277.81,903.1

374.7

327.4315.9144.1171.7122.3

49.5-15.5

27.0117.5

292.5

3,178.8

347.62,831.3

324.1

2,507.1

2,096.41,749.7

346.6

276.2254.5100.8153.7113.4

40.4-15.5

37.1134.6

Billions of 1987 dollars

2,740.0

303.42,436.6

253.22,183.4

2,698.0

309.52,388.5

249.02,139.6

2,683.5307.1

2,376.4

246.62,129.7

2,687.4

308.52,378.9

248.82,130.1

2,699.1

310.22,389.0

251.02,138.0

2,722.0

312.02,410.0

249.52,160.5

2,737.6

313.22,424.3

252.62,171.8

2,760.8

314.02,446.9

254.82,192.0

CCAdj Capital consumption adjustmentIVA Inventory valuation adjustment


SURVEY OF CURRENT BUSINESS September 1992

Table 2.1 .Personal Income and Its Disposition[Billions of dollars]

Personal incomeWage and salary

disbursementsCommodity-producing

industriesManufacturing

Distributive industriesService industriesGovernment

Other labor incomeProprietors' income with

inventory valuation andcapital consumptionadjustmentsFarmNonfarm

Rental income of personswith capitalconsumptionadjustment

Personal dividend incomePersonal interest incomeTransfer payments to

personsOld-age, survivors,

disability, and healthinsurance benefits

Governmentunemploymentinsurance benefits

Veterans benefits .Government employees

retirement benefitsOther transfer payments

Aid to families withdependent children

OtherLess: Personal

contributions for socialinsurance .-

Less: Personal tax andnontax payments

Equals: Disposable personalincome

Less: Personal outlaysPersonal consumption

expendituresInterest paid by persons ....Personal transfer payments

to rest of the world (net)Equals: Personal savingAddenda:

Disposable personalincome:Total, billions of 1987

dollarsPer capita:

Current dollars1987 dollars ...

Population (mid-period,-millions)

Personal saving aspercentage ofdisposable personalincome

1990

4,664.2

2,742.8

745.6556.1634.6847.8514.8

271.0

366.941.7

325.2

-12.3

140.3

694.5

685.8

352.0

18.017.8

94.0203.9

19.8184.2

224.8

621.3

4,042.9

3,867.3

3,748.4109.6

9.3

175.6

3,516.5

16,17414,068

250.0

4.3

1991

4,828.3

2,812.2

737.4556.9647.4883.9543.6

288.3

368.035.8

332.2

-10.4

137.0

700.6

771.1

382.0

27.518.1

101.3242.1

22.0220.2

238.4

618.7

4,209.6

4,009.9

3,887.7112.5

9.7

199.6

3,509.0

16,65813,886

252.7

4.7


I

4,752.8

2,774.7

734.6551.2638.6861.8539.7

281.5

356.534.3

322.2

-12.4

141.3

701.1

744.9

374.2

24.317.8

101.6227.1

21.3205.8

234.9

616.8

4,136.0

3,943.2

3,821.7112.2

9.4

192.8

3,488.7

16,43313,861

251.7

4.7

II

4,806.9

2,804.7

734.6553.4647.0879.4543.8

286.1

370.441.3

329.1

-12.3

136.7

696.2

762.4

378.9

28.318.5

100.4236.3

21.8214.6

237.4

617.2

4,189.7

3,994.4

3,871.9112.7

9.8

195.3

3,505.2

16,60413,891

252.3

4.7

III

4,846.2

2,824.4

738.8559.0651.1890.2544.3

290.6

367.129.5

337.6

-10.3

135.6

701.8

777.1

384.2

27.618.1

101.0246.1

22.2224.0

240.1

618.6

4,227.6

4,036.6

3,914.2112.5

9.9191.0

3,511.5

16,70613,876

253.1

4.5

IV

4,907.2

2,845.0

741.5563.9652.9904.3546.4

295.0

377.937.9

340.0

-6.6

134.3

703.3

799.8

390.6

30.018.1

102.0259.1

22.7236.4

241.5

622.3

4,284.9

4,065.5

3,942.9112.8

9.7

219.4

3,530.8

16,88513,913

253.8

5.1

1992

I

4,980.5

2,877.6

736.8559.9660.9925.3554.6299.2

393.640.1

353.6

-4.5

133.9

684.8

842.7

405.7

39.720.2

106.4270.7

23.0247.7

246.8

619.6

4,360.9

4,146.3

4,022.8113.3

10.2

214.6

3,565.7

17,14314,017

254.4

4.9

II

5,028.9

2,901.3

743.1564.7662.9933.9561.4

303.6

398.438.5

359.9

3.3

136.6

675.2

859.7

412.1

41.718.7

106.4280.8

23.4257.4

249.3

617.1

4,411.8

4,179.5

4,057.1112.0

10.4

232.3

3,576.0

17,29714,021

255.1

5.3

Table 2.2.Persona! Consumption Expenditures by Major Type ofProduct


Personal consumptionexpenditures

Durable goodsMotor vehicles and parts ....Furniture and household

equipmentOther

Nondurable goodsFoodClothing and shoesGasoline and oilFuel oil and coal .Other

ServicesHousingHousehold operation

Electricity and gasOther household

operationTransportationMedical careOther

1990

3,748.4

464.3202.4

172.189.8

1,224.5

601.4206.9108.5

12.6295.1

2,059.7

547.5215.0

97.6

117.4142.8524.9629.5

1991

3,887.7

446.1

185.4

170.490.2

1,251.5

617.7209.0105.5

11.7307.7

2,190.1

574.0223.7103.6

120.1147.3580.2664.9


I

3,821.7

439.5

180.9

169.289.3

1,245.0

613.6206.2108.1

12.2304.8

2,137.2

565.0218.4100.0

118.4145.1558.7649.9

II

3,871.9

441.4

180.7

171.589.3

1,254.2

619.2210.8105.5

11.4307.3

2,176.3

571.5224.8104.4

120.3146.2572.5661.3

III

3,914.2

453.0

189.3

172.291.5

1,255.3

617.9212.0104.7

11.8308.9

2,205.9

576.5226.1104.6

121.5148.2586.3668.9

IV

3,942.9

450.4

190.9

168.990.6

1,251.4

620.0206.8103.5

11.3309.8

2,241.1

583.0225.5105.2

120.3149.8603.2679.6

1992

I

4,022.8

469.4

198.9

176.394.1

1,274.1

627.9216.5102.8

11.6315.4

2,279.3

590.9223.5101.8

121.8152.6614.8697.5

II

4,057.1

470.6

200.7

176.393.5

1,277.5

623.2217.4105.4

13.8317.7

2,309.0

597.4227.9104.2

123.6152.5629.0702.2

Table 2.3.Personal Consumption Expenditures by Major Type ofProduct in Constant Dollars

[Billions-of 1987 dollars]

Personal consumptionexpenditures

Durable goodsMotor vehicles and parts ....Furniture and household

equipmentOther

Nondurable goodsFoodClothing and shoesGasoline and oilFuel oil and coalOther

Services .Housing . .Household operation

Electricity and gasOther household

opearationTransportationMedical careOther

3,260.4

439.3

192.2

169.577.6

1,056.5

520.8185.9

86.4101

253.4

1,764.64747203.7

92.4

111.31247423.95376

3,240.8

414.7

171.0

168.675.0

1,042.4

515.8181.3

85.297

250.5

1,783.7

4782204.7

95.2

109.6121 2438.8540.7

3,223.5

412.0

169.6

166.975.5

1,043.0

516.4180.8

83.994

2525

1,768.5

4765201.4

92.1

109.2121 2431.9537.6

3,239.3

411.3

167.2

169.374.8

1,046.3

516.3183.2

86.098

251.0

1,781.8

4779206.5

96.6

109.9121 5435.6540.2

3,251.2

419.4

173.3

170.475.7

1,044.8

515.0183.7

86.0100

250.0

1,787.0

4788206.5

96.3

110.2121 2440.5540.1

3,249.0

416.1

174.0

167.974.2

1,035.6

515.3177.5

84.794

248.6

1,797.4

4798204.6

95.6

109.0121 0447.2544.8

3,289.3

432.3

181.5

174.476.5

1,049.6

518.9184.185.7102

250.7

1,807.3

481 2201.6

92.9

108.71203449.6554.6

3,288.5

430.0

180.2

174.475.4

1,045.6

513.5184.485.8120

249.8

1,812.9

4833204.2

94.5

109.71213453.7550.5

NOTEPercent changes from preceding period for selected items in this table are shown in table 8.1.


1O September 1992 SURVEY OF CURRENT BUSINESS

Table 3.2.Federal Government Receipts and Expenditures[Billions of dollars]

Table 3.3.State and Local Government Receipts and Expenditures[Billions of dollars]

ReceiptsPersonal tax and nontax

receiptsIncome taxesEstate and gift taxesNontaxes

Corporate profits tax accrualsFederal Reserve banksOther

Indirect business tax andnontax accrualsExcise taxesCustoms dutiesNontaxes

Contributions for socialinsurance

ExpendituresPurchases

National defenseNondefense

Transfer payments (net)To personsTo rest of the world (net) ...

Grants-in-aid to State andlocal governments

Net interest paidInterest paid

To persons and businessTo rest of the world (net)

Less: Interest received bygovernment

Subsidies less current surplusof government enterprises .SubsidiesLess: Current surplus of

government enterprises ..Less: Wage accruals less

disbursementsSurplus or deficit (-),

national income andproduct accounts

Social insurance fundsOther

1990

1,107.4

482.6470.1

11.6.9

113.923.690.3

66.036.317.512.2

444.9

1,273.6426.4314.0112.4

513.3499.9

13.4

132.3

176.6209.2171.4

37.9

32.6

25.127.5

2.4

.1

-166.2

64.0-230.2

1991

1,122.2

473.4461.4

11.01.0

102.520.881.7

78.245.617.215.3

468.2

1,332.7

447.3323.8123.6

521.9550.2-28.3

153.3

186.9220.9181.9

39.0

34.0

23.129.1

6.0

-.1

-210.450.1

-260.6


1991

I

1,114.6

474.7462.9

10.9.9

100.321.578.8

77.345.716.615.0

462.2

1,264.4

451.3332.4118.8

461.6538.0-76.4

144.3

182.7218.0178.5

39.5

35.3

24.829.8

5.0

.2

-149.951.7

201.5

II

1,117.3

473.1461.6

10.61.0

101.620.880.8

76.345.616.114.6

466.3

1,329.4

449.9325.9124.0

514.8546.6-31.8

151.9

188.1221.1182.3

38.9

33.0

24.431.2

6.8

-.4

-212.2

50.5-262.7

III

1,127.7

473.4460.6

11.81.0

104.920.584.4

78.345.617.115.6

471.1

1,348.7

447.2321.9125.3

545.5551.7-6.2

153.4

186.8221.3181.9

39.4

34.6

15.722.0

6.3

0

-221.052.2

-273.2

IV

1,129.4

472.2460.5

10.71.1

103.320.383.0

80.845.718.916.2

473.2

1,388.1440.8314.7126.1

565.9564.7

1.3

163.6

190.1223.2185.0

38.2

33.2

27.733.4

5.7

0

-258.746.2

-304.8

1992

I

1,143.3

468.4456.4

10.91.1

112.219.392.9

79.246.017.116.1

483.5

1,432.5

445.0313.6131.4

609.8597.8

12.0

165.1

186.8220.3182.0

38.2

33.4

25.730.9

5.2

0

-289.2

28.5-317.6

II

1,149.8

464.2452.3

10.81.1

118.319.099.3

79.846.117.915.8

487.4

1,452.7

444.8311.7133.1

619.5605.9

13.6

174.1

187.5221.9183.1

38.9

34.5

26.931.6

4.7

0

-302.928.4

-331.3

ReceiptsPersonal tax and nontax

receiptsIncome taxesNontaxesOther

Corporate profits tax accrualsIndirect business tax and

nontax accrualsSales taxesProperty taxesOther

Contributions for socialinsurance

Federal grants-in-aidExpenditures

PurchasesCompensation of

employeesOther

Transfer payments to personsNet interest paid

Interest paidLess: Interest received by

governmentLess: Dividends received by

government 'Subsidies less current surplus

of government enterprises .SubsidiesLess: Current surplus of

government enterprises ..Less: Wage accruals less

disbursementsSurplus or deficit (-),

national income andproduct accounts

Social insurance fundsOther

1990

729.3

138.7106.0

15.517.2

22.7

378.2183.5155.4

39.4

57.3

132.3

699.2

616.8

411.4205.4

164.7

-52.460.7

113.1

9.0

-20.9.4

21.3

0

30.1

63.0-32.9

1991

777.9

145.4110.3

16.718.4

21.5

397.0189.0167.740.4

60.6

153.3760.7

643.2

435.6207.6

198.0

-48.463.7

112.1

9.5

-22.6.4

23.0

0

17.1

60.3-43.1


I

754.0

142.1107.6

16.218.2

21.0

387.4184.4163.040.0

59.2

144.3

739.4

636.3

428.9207.4

184.8

-50.062.6

112.7

9.3

-22.3.4

22.7

0

14.6

61.2-46.6

II

769.3

144.1109.5

16.518.1

21.3

391.9186.2166.239.5

60.2

151.9

752.8

640.8

434.5206.4

193.2

-49.063.4

112.4

9.5

-22.8.4

23.2

0

16.5

60.7-44.1

III

783.5

145.2109.9

16.818.5

22.1

401.7192.3169.340.1

61.0

153.4

768.1

646.0

437.4208.6

202.3

-47.964.1

112.0

9.5

-22.9.4

23.2

0

15.4

59.9-44.5

IV

804.6

150.1114.2

17.118.8

21.7

407.1192.9172.441.8

62.0

163.6

782.5

649.5

441.6207.9

211.8

-46.664.8

111.3

9.6

-22.6.4

23.0

0

22.0

59.4-37.3

1992

I

817.8

151.1114.6

17.419.1

24.2

414.6197.3175.641.7

62.7

165.1

801.2

658.0

446.2211.8

220.8

-45.465.4

110.8

9.7

-22.5.4

22.9

0

16.6

58.4-41.8

II

834.0

152.9115.8

17.719.4

25.8

417.8198.5178.940.4

63.4

174.1

816.3

664.3

453.5210.8

229.4

-44.366.1

110.4

10.0

-23.2.4

23.6

0

17.7

58.0-40.3



Table 3.7B.Government Purchases by Type[Billions of dollars]

Table 3.8B.Government Purchases by Type in Constant Dollars[Billions of 1987 dollars]


National defense .. ..Durable goodsNondurable goodsServices

Compensation ofemployeesMilitaryCivilian

Other servicesStructures

NondefenseDurable goodsNondurable goods

Commodity CreditCorporationinventory change ...

Other nondurablesServices

Compensation ofemployees


State and localDurable goodsNondurable goodsServices

Compensation ofemployees .. ..


1990

1,043.2

426.4

314.084.211.8

211.8

125.582.942.586.46.3

112.45.95.1

-1.76.8

93.4

54.838.68.0

616.8

34.956.0

440.6

411.429.285.3

1991

1,090.5

447.3

323.884.112.2

222.5

132.688.644.090.04.9

123.66.87.0

.46.6

100.4

59.441.09.4

643.2

36.458.0

462.1

435.626.686.7


I

1,087.5

451.3

332.487.413.8

226.0

135.191.144.090.95.2

118.86.27.6

2.45.2

97.0

58.238.88.0

636.3

36.158.4

456.5

428.927.685.2

II

1,090.8

449.9

325.986.211.2

223.3

133.089.243.890.35.2

124.07.18.0

1.36.6

99.5

59.440.19.5

640.8

36.357.7

461.6

434.527.185.3

III

1,093.3447.2

321.982.711.2

223.7

131.387.543.892.44.3

125.37.07.0

_ o

73102.1

60.042.19.2

646.0

36.457.9

463.8

437.426.587.8

IV

1,090.3

440.8

314.780.212.5

217.1

130.986.544.486.24.9

126.17.05.3

-2.07.4

102.9

60.242.710.8

649.5

36.757.8

466.6

441.625.088.4

1992

I

1,103.1

445.0

313.679.510.3

218.7

135.288.946.383.45.2

131.47.27.1

_ 77^9

106.2

62.943.210.9

658.0

36.857.3

470.4

446.224.293.5

II

1,109.1444.8

311.776712.1

216.8

135.288.446.881.66.0

133.17.48.0

_ 282

107.2

63.543.710.4

664.3

37.058.7

475.7

453.522.292.9


National defenseDurable goodsNondurable goodsServices

Compensation ofemployeesMilitaryCivilian

Other services . .Structures

NondefenseDurable goodsNondurable goods

Commodity CreditCorporationinventory change ...

Other nondurablesServices . .



State and localDurable goodsNondurable goodsServices



1990

929.9

383.6

283.380.39.3

188.3

108.872.236.679.55.4

100.35.75.2

-1.06.2

82.3

47.534.87.2

546.3

32.248.4

387.8

353.534.477.8

1991

941.0

388.3

282.878.610.4

189.6

108.672.935.781.04.2

105.56.86.5

.75.9

83.9

48.635.4

8.2

552.7

32.750.3

391.3

357.533.878.3


I

945.1

394.1

291.881.311.0

195.1

113.277.136.181.94.4

102.26.17.1

2.64.5

82.0

47.934.17.1

551.0

32.650.1

391.1

357.433.777.2

II

945.6

393.8

287.680.79.9

192.5

110.074.535.582.54.4

106.27.07.4

1.55.9

83.4

48.634.98.3

551.8

32.750.3

392.1

358.333.876.7

III

940.2

387.2

280.677.510.0

189.5

106.671.235.482.93.6

106.67.16.3

-.16.5

85.1

48.936.2

8.1

553.0

32.850.4

390.9

357.133.878.9

IV

933.1

378.2

271.074.710.8

181.1

104.669.035.676.64.3

107.27.25.4

-1.26.6

85.1

48.836.39.5

554.9

32.850.5

391.1

357.333.880.6

1992

I

937.0

375.3

265.674.19.7

177.2

103.567.835.773.74.5

109.77.56.9

-i7^0

85.6

49.036.59.7

561.8

32.750.5

391.6

357.733.986.9

II

934.2

372.7

262.171.511.0

174.5

102.566.635.972.05.1

110.67.87.4

.17.3

86.3

49.336.99.2

561.5

32.750.6

392.9

359.533.485.2

Table 3.10.National Defense Purchases[Billions of dollars]

Table 3.11.National Defense Purchases in Constant Dollars[Billions of 1987 dollars]

National defensepurchases

Durable goods . . .Military equipment

AircraftMissilesShipsVehiclesElectronic equipmentOther

Other durable goodsNondurable goods

Petroleum productsAmmunitionOther nondurable goods ....

ServicesCompensation of

employeesMilitaryCivilian

Other servicesContractual research and

developmentInstallation support ]Weapons support2Personnel support3Transportation of

materialTravel of personsOther

StructuresMilitary facilitiesOther

314.0

84.2

79.52901501254.57.1

11 44.6

11.8

533.43.0

211 8

125582942.5864

31722.510.413.6

4.741-66.33626

323.8

84.1

781270164121476.7

11 26.0

12.2

503.63.5

2225

132688644.0900

25623.111.213.0

9.385-84.92.524

332.4

87.4

81.7275176.11 4

4.56.9

1395.7

13.8

663.43.9

226.0

135.191 144.0909

26924.211.013.5

9.961-65.22.626

325.9

86.2

7992781591255.67.5

1066.3

11.2

393.83.5

2233

133089243.8903

25522.310.613.5

10.88.4-7

5.22.825

321.9

82.7

76.72711581264.96.1

10 16.0

11.2

4.53.43.3

223.7

131 387543.8924

26023.311.113.4

9.710.2-1.3

4.31.924

314.7

80.2

74.0257163120386.2

10 16.2

12.5

513.93.5

217.1

130986544.4862

24.122.812.111.6

6.89.3-.54.92.62.3

313.6

79.5

73.523115811 24.36.5

1256.0

10.3

412.63.6

2187

135288946.3834

22024.211.511.6

6.28.3-.45.23.121

311.7

76.7

71.322715711 34.16.2

11 35.4

12.1

385.13.2

216.8

135288446.881 6

22.823.012.011.6

5.47.3-.46.03.72.3

1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors tooperate installations.

2. Includes depot maintenance and contractual services for weapons systems, other than research anddevelopment.

3. Includes compensation of foreign personnel, consulting, training, and education.

National defensepurchases

Durable goodsMilitary equipment . . .

AircraftMissilesShipsVehiclesElectronic equipmentOther .. . .

Other durable goodsNondurable goods

Petroleum productsAmmunitionOther nondurable goods ....

ServicesCompensation of

employeesMilitaryCivilian

Other servicesContractual research and

developmentInstallation support lWeapons support2Personnel support3Transportation of

materialTravel of personsOther

Structures ..Military facilitiesOther

283.3

80.3

75727515.611 3426.7

1034.5

9.336312.6

188.3

108872.236.679.5'

29720.3

9.511.6

513.8_5

5.43.320

282.8

78.6

72624.916.8103436.3996.0

10.4

37373.0

189.6

108672.935781.0

23420.39.8

10.3

1037.5-6

4.22.31 9

291.8

81.3

75725517.199436.5

1245.6

11.0

42343.4

195.1

113277.136.181.9

24821.39.8

11.0

10.35.4-5

4.42.42.0

287.6

80.7

74.625.816.6106537.1946.1

9.933373.0

192.5

110074.535.582.5

23319.79.3

10.8

1267.4-6

4.42.51.9

280.6

77.5

71 525.216.4107465.7896.0

10.0

36362.8

189.5

106671.235.482.9

23.720.4

9.610.7

10.59.01 0

3.61.71.8

271.0

74.7

68.323.117.11013.35.8896.4

10.8

38403.0

181.1

104669.035.676.6

21.719.910.48.9

7.78.4

4

4.32.41.8

265.6

74.1

67920.916.6963.86.0

1096.39.7372.93.1

177.2

103567.835.773.7

19.921.3

9.88.8

6.97.4-3

4.52.81.7

262.1

71.5

65720716.496375.7975.8

11.0

32502.8

174.5

102566.635.972.0

20.320.210.28.9

6.16.7-3

5.13.21.9

1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors tooperate installations.

2. Includes depot maintenance and contractual services for weapons systems, other than research anddevelopment.

3. Includes compensation of foreign personnel, consulting, training, and education.



Table 4.1 .Foreign Transactions in the National Income and ProductAccounts


Table 4.2.Exports and Imports of Goods and Services andReceipts and Payments of Factor Income in Constant Dollars


Receipts from rest of the worldExports of goods and services

Merchandise lDurableNondurable

Services ]

Receipts of factor income2

Capital grants received by the UnitedStates (net)

Payments to rest of the world ...Imports of goods and services

Merchandise }DurableNondurable

Services l

Payments of factor income 3

Transfer payments (net)From persons (net)From government (net) . .From business

Net foreign investment

1990

717.6

557.0398.1262.6135.5159.0

160.6

0

717.6

625.9507.8314.5193.3118.1

139.9

27.99.3

13.45.2

-76.1

1991

741.7

598.2423.1282.0141.0175.1

143.5

0

741.7

620.0499.9315.3184.6120.1

126.0

-13.39.7

-28.35.3

9.0


1991

I

733.0

573.2410.0265.3144.7163.2

159.8

0

733.0

602.0485.2305.1180.1116.7

130.8

-61.89.4

-76.45.2

62.1

II

737.5

594.3421.1284.2136.8173.2

143.2

0

737.5

609.6489.5305.7183.9120.0

126.5

-16.79.8

-31.85.3

18.2

III

740.1

602.3423.5285.2138.4178.8

137.8

0

740.1

629.5508.7323.1185.6120.8

124.5

9.19.9

-6.25.3

-22.9

IV

756.0

622.9437.7293.3144.3185.3

133.1

0

756.0

638.9516.2327.5188.7122.7

122.3

16.29.71.35.3

-21.5

1992

I

761.0

628.1437.3293.2144.1190.8

132.9

0

761.0

636.2513.1330.2182.9123.1

113.3

27.410.212.05.3

-16.0

II

756.7

625.4435.2292.8142.4190.2

131.3

0

756.7

662.5537.0339.1197.9125.5

124.3

29.310.413.65.3

-59.4

1. Exports and imports of certain goods, primarily military equipment purchased and sold by the FederalGovernment, are included in services.

2. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreignaffiliates of U.S. corporations.

3. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.affiliates of foreign corporations.

Table 4.3.Exports and Imports of Merchandise by End-Use Category[Billions of dollars]

Exports of merchandiseFoods, feeds, and beveragesIndustrial supplies and materials

Durable goodsNondurable goods

Capital goods, except automotiveCivilian aircraft, engines, and parts ...Computers, peripherals, and parts ....Other

Automotive vehicles, engines, and partsConsumer goods, except automotive


OtherDurable goodsNondurable goods

Imports of merchandiseFoods, feeds, and beveragesIndustrial supplies and materials, except

petroleum and productsDurable goodsNondurable goods

Petroleum and productsCapital goods, except automotive

Civilian aircraft, engines, and parts ...Computers, peripherals, and parts ....Other




Addenda:Exports of agricultural products 'Exports of nonagricultural products ...Imports of nonpetroleum products

398.1

35.1102.0357663

153.332.225.995236.542.822.919928.414214.2

507.8

26.7

77.639.038762.3

116.010.523.082587.7

105.355.749632.216.116.1

40.2357.9445.5

423.1

35.7106.4372692

167.036.427.3

103340.045.923.822227.913913.9

499.9

26.5

75.636.339251.2

120.711.726.182984.9

108.056.851 233.016.516.5

40.1382.9448.7

410.0

34.5110.2366736

155.730.827.297735.146.223.722428.214114.1

485.2

25.6

73.435.737751.7

119.210.824.883681.2

101.852.949032.216.1161

39.2370.8433.6

421.1

33.1106.5380685

169.438.727.2

103439.744.523.221 327.813913.9

489.5

27.6

75.336.039251 7

120.412.225.882479.1

101.653.348433.816.916.9

37.5383.6437.8

423.5

36.7104.1378662

166.735.426.8

104543.744.923.221 727.413713.7

508.7

26.3

75.536.538952.5

121.312.527.181790.8

109.958.251 732.416.216.2

40.7382.9456.2

437.7

38.6104.9364685

176.340.827.9

107641.748.224.923228.114014.0

516.2

26.4

78.037.041 048.8

122.111.526.883888.6

118.763.055733.616.816.8

43.2394.5467.4

437.3

40.2104.2361681

176.442.627.4

106442.947.924.923025.612812.8

513.126.8

80.939.641 341.5

125.112.127.785487.8

116.260.256034.917417.4

43.3394.0471.6

435.2

37.8104.8357691

173.937.728.6

107646.248.525.023.624.012012.0

537.0

29.1

81.438.942551.7

131.413.530.787289.5

119.262.057334.717.417.4

41.9393.3485.3

Exports of goods and servicesMerchandise l

DurableNondurable

Services 'Receipts of factor income2

Imports of goods and servicesMerchandise 1

DurableNondurable

Services 'Payments of factor income3

1990

510.0368.5249.2119.3141.4

141.1

561.8460.3291.2169.1101.5

122.6

1991

539.4392.5266.4126.1146.9

120.8

561.2463.5296.7166.897.7

105.4


I

515.9377.4251.1126.3138.5

136.2

533.8438.9282.2156.794.9

110.9

II

536.1390.1267.9122.1146.1

120.9

553.5454.9286.6168.398.5

106.2

III

544.2395.2269.6125.5149.0

115.4

575.8477.9306.9171.097.9

103.6

IV

561.4407.3277.0130.3154.0

110.8

581.8482.2311.0171.399.6

101.0

1992

I

565.4408.1276.1131.9157.3

109.7

586.8488.0316.3171.898.8

92.7

II

563.4408.0278.4129.6155.4

107.6

607.3507.8327.0180.899.5

101.0

1. Exports and imports of certain goods, primarily military equipment purchased and sold by the FederalGovernment, are included in services.

2. Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreignaffiliates of U.S. corporations.

3. Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S.affiliates of foreign corporations.

Table 4.4.Exports and Imports of Merchandise by End-Use Categoryin Constant Dollars[Billions of 1987 dollars]

Exports of merchandiseFoods feeds, and beveragesIndustrial supplies and materials


Capital goods, except automotiveCivilian aircraft, engines, and parts ...Computers, peripherals, and parts ....Other . .




Imports of merchandiseFoods feeds and beveragesIndustrial supplies and materials, except

petroleum and productsDurable goodsNondurable goods

Petroleum and productsCapital goods, except automotive

Civilian aircraft, engines, and parts ...Computers, peripherals, and parts ....Other




Addenda:Exports of agricultural products ]Exports of nonagricultural products ...Imports of nonpetroleum products

368.5

30.489.431 0584

150.028.633.887634.039.221.417825612812.8

460.3

255

66332633752.1

113.99.3

29.974780.493.350043428914414.4

35.1333.4408.2

392.5

31.395.532463 1

163.730.940.692236.340.921.619224812412.4

463.5

245

65531 334248.6

124.410.041.173475.795.450644829.314.614.6

35.5357.0414.8

377.4

30.495.331 5638

153.126.737.988632.141.421.819.525012512.5

438.9

241

61 730131.744.2

118.19.3

35.673173.389.246642628414214.2

34.6342.8394.7

390.1

29.195.3331622

165.433.139.393036.039.421.018.524812412.4

454.9

253

64730733951.5

122.610.439.073170.790.247642630.015015.0

32.9357.2403.4

395.2

32.595.133261 9

163.829.841.392.739.439.921.018.924512212.2

477.9

241

66531 934552.4

127.610.543.973280.797.752245528.914414.4

36.3358.9425.5

407.3

33.496.431 9645

172.534.243.994.437.542.722.720.024912.412.4

482.2

245

69132536646.5

129.39.6

45.774078.3

104.655948729.814914.9

38.1369.2435.7

408.1

35.197.531 7658

173.135.544.193.538.441.321.619.722811.411.4

488.0

249

71 434736746.7

135.610.048.677076.4

102.254148030.915.415.4

38.7369.4441.3

408.0

33.096.7307660

174.031.448.394.441.141.921.920.021 210.610.6

507.8

272

70832738.150.9

146.911.256.279477.7

103.554349230.715315.3

37.6370.4456.8

1. Includes parts of line 2 and line 5. 1.Includes parts of line 2 and line 5.



Table 5.1.Gross Saving and Investment[Billions of dollars]

Gross savingGross private saving

Personal savingUndistributed corporate

profits with inventoryvaluation and capitalconsumption adjusmentsUndistributed profitsInventory valuation

adjustmentCapital consumption

adjustmentCorporate consumption of

fixed capitalNoncorporate consumption

of fixed capitalWage accruals less

disbursementsGovernment surplus or

deficit (-), nationalincome and productaccountsFederalState and local

Capital grants received bythe United States (net)

Gross investmentGross private domestic

investmentNet foreign investment

Statistical discrepancy

1990

718.0

854.1175.6

75.769.4

-14.2

20.5

368.3

234.6

0

-136.1-166.2

30.1

0

723.4

799.5-76.1

5.4

1991

708.2

901.5199.6

75.864.2

3.1

8.4

383.0

243.1

0

-193.3-210.4

17.1

0

730.1

721.19.0

21.9


I

754.1

889.4192.8

77.765.7

6.7

5.3

379.7

239.2

0

-135.31499

14.6

0

767.5

705.462.1

13.4

II

701.3

896.9195.3

78.163.2

9.9

5.1

382.5

241.0

0

-195.62122

16.5

0

728.4

710.218.2

27.1

III

679.4

884.9191.0

69.064.5

-4.8

9.3

383.5

241.4

0

-205.6-221.0

15.4

0

709.9

732.8-22.9

30.5

IV

698.2

934.8219.4

78.363.4

.7

14.1

386.3

250.7

0

-236.62587

22.0

0

714.6

736.1-21.5

16.4

1992

I

677.5

950.1214.6

104.086.2

-5.4

23.3

386.1

245.3

0

-272.6-289.2

16.6

0

706.5

722.4-16.0

29.0

II

682.9

968.1232.3

97.786.1

-15.5

27.0

391.2

247.0

0

-285.23029

17.7

0

713.8

773.2-59.4

30.9

Table 5.4.Fixed Investment by Type[Billions of dollars]

Table 5.5.Fixed Investment by Type in Constant Dollars[Billions of 1987 dollars]

Fixed investmentNonresidential

StructuresNonresidential buildings, including

farmUtilitiesMining exploration, shafts, and

wellsOther structures

Producers' durable equipmentInformation processing and related

equipmentComputers and peripheral

equipment ]Other

Industrial equipmentTransportation and related

equipmentOther

ResidentialStructures

Single familyMultifamilyOther structures

Producers' durable equipment

1990

793.2

577.6

201.1

150.127.2

15.48.3

376.5

123.0

34.888.189.5

83.181.0

215.6

208.8108.7

19.380.8

6.8

1991

731.3

541.1

180.1

127.428.6

15.38.8

360.9

123.6

34.289.481.3

85.171.0

190.3

183.795.415.173.1

6.6


1991

I

733.9

551.4

190.0

137.928.0

16.57.6

361.4

121.0

32.988.184.8

83.472.2

182.6

176.087.017.271.8

6.6

II

732.0

545.8

185.2

132

scb_091992

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