scb_101988

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

October 1988 / Volume 68 Number 10

U U U U U U U SURVEY OF CURRENT BUSINESS

U.S. Department of CommerceC. William Verity / SecretaryRobert Ortner / Under Secretary

for Economic Affairs

Bureau of Economic AnalysisAllan H, Young / DirectorCarol S, Carson / Deputy Director

Editor-in-Chief; Carol S. CarsonManaging Editor: Leland L. Scott

Staff Contributors to This Issue; Robert L.Brown, Rudolph E. DePass, Douglas R. Pox,Howard L. Friedenberg, Linnea Hazert, Daniel J.Larkins, Ralph W. Morris, John C. Musgrave,National Income and Wealth Division, CharlesS. Robinson, Tracy R Tapscott, Edward A. Trott,Obie G. Whichard, Isabelle B. Whiston

SURVEY OF CURRENT BUSINESS. Publishedmonthly by the Bureau of Economic Analysis of theU.S. Department of Commerce. Editorial corre-spondence should be addressed to the Editor-in-Chief, SURVEY OF CURRENT BUSINESS, Bureau of Eco-nomic Analysis, U,S. Department of Commerce,Washington, DC 20230.

Annual subscription: Second-class mail$18.00 domestic, $22.50 foreign; first-class mail$46,00. Single copy$6.50 domestic, $8.13 foreign.

Mail subscription orders and address changes tothe Superintendent of Documents, U.S. Govern-ment Printing Office, Washington, DC 20402.Make checks payable to the Superintendent ofDocuments.

Second-class postage paid at Washington, DCand at additional mailing offices. (USPS 337-790),

The Secretary of Commerce has determinedthat the publication of this periodical is necessaryin the transaction of the public business requiredbylaw of this Department.

1 Business Situation2 Components of Real GNP5 Prices6 Personal Income

8 National Income and Product Accounts Tables8 Selected NIPA Tables

22 Composite Indexes of Leading, Coincident, andLagging Indicators

23 Recent Growth in Nonfarm Personal Income

25 State Quarterly Personal Income, 1985:1-1988:11

27 International Services: New Information on U.S. TransactionsWith Unaffiliated Foreigners

35 Summary Fixed Reproducible Tangible Wealth Series, 1925-87

37 Errata: Gross State Product

Blue pages: Current Business Statistics(See page S-36 for subject index to Current Business Statistics)

Inside back cover: BEA Publications

NOTE.This issue of the SURVEY went to the printer on Nov. 8,1988. It incorporatesdata from the following monthly BEA news releases:

Gross National Product (Oct. 26),Personal Income and Outlays (Oct. 27), andComposite Indexes of Leading, Coincident, and Lagging

Indicators (Nov. 1).


the BUSINESS SITUATION

TL'.S. economic activity continued ata moderate pace in the third quarterof 1988: Production slowed somewhat,and demand picked up somewhat. In-flation was about the same in the thirdquarter as in the second (chart 1).

Real GNP, a measure of U.S. pro-duction, increased at an annualrate of 2 percent, following an in-crease of 3 percent in the secondquarter.

Real gross domestic purchases,a measure of U.S. demand, in-creased at an annual rate of 21/2percent, following a 1 ^ -percentincrease.

The GNP price index (fixedweights) increased at an annualrate of 5 percent, and the price in-dex for gross domestic purchasesincreased 4.^ 2 percent; both in-dexes had increased 5 percent inthe second quarter.1

1. The regularly featured estimates of real GNP andGNP prices are based on 1982 weights. An alter-native measure of price change that uses more cur-rent weightsthe chain price indexis published in ta-ble 8.1 of the "Selected NIPA Tables." The GNP chainprice index increased at an annual rate of 4^2 percent

Differences in movements of realGNP and real gross domestic pur-chases reflect changes in net exports(table 1). Imports increased strongly inthe third quarter after declining in thesecond; the turnaround was accountedfor by nonpetroleum merchandise andby services. Exports increased aboutthe same in both quarters.

Impact of the drought.On the ba-sis of information available in mid-October, BEA estimates that $13 bil-lion of real farm output was lost asa result of this year's drought. Theselosses$12 billion for crops and $1 bil-lion for livestockwere allocated ona quarterly basis as follows: Secondquarter, $2.3 billion ($9 billion annualrate); third quarter, $3.7 billion ($15billion annual rate); and fourth quar-ter, the remaining $6.9 billion ($28in the third quarter, following a 5-percent increase. Thechain price index can be used to calculate an alterna-tive measure of real GNP growth based on more currentweights. This alternative measure increased at an an-nual rate of 2 percent in the third quarter, following a3 ^ -percent increase. (See the August 1988 "BusinessSituation" for more information about these alternativemeasures. Alternative estimates based on 1987 weightswill be presented in the SURVEY OF CURRENT BUSINESS inthe near future.)

Looking Ahead . . .

NIPA Methodology. The fifth in BEA's series of methodology papers hasbeen completed and will be available soon. The paper, Government Transac-tions, describes the source data and estimating methods for the Federal andthe State and local government estimates. Order information will appearin an upcoming issue of the SURVEY.

Pollution Abatement Expenditures. Plant and equipment expenditures forpollution abatement for 1987 will appear in the November SURVEY.

Local Area Estimates. Estimates of total wage and salary disbursementsand total wage and salary employment for 1987 for counties and metropoli-tan areas will be available in December.

Input-Output Accounts. The 1983 annual input-output tables will be pre-sented in a forthcoming issue of the SURVEY. The annual accounts are pre-pared using basically the same procedures as used in the 1977 benchmarktables, but with less comprehensive and less reliable source data.

1Selected Measures:Change From Preceding Quarter

Percent10

5 -

-5

-10

10

REAL GNP

Jill

-5

-10

REAL GROSS DOMESTIC PURCHASES

GROSS DOMESTIC PURCHASES PRICEINDEX (FIXED WEIGHTS)

10

1985 1986 1987 1988Note.Percent change at annual rate from preceding quarter;based on seasonally adjusted estimates.

U.S. Department of Commerce, Bureau of Economic Analysis


SURVEY OF CURRENT BUSINESS October 1988

Table 1.U.S. Production and U.S. Demand[Seasonally adjusted at annual rates]

Table 2.Selected Farm Sector Measures[Billions of dollars; seasonally adjusted at annual rates]

Gross national product

Less' ExportsPlus' Imports

Equals: Gross domestic purchases

Billions of 1982 dollars

Level

1988

I

3,956.1

486.2595.1

4,065.1

II

3,985.2

496.9589.5

4,077.9

III

4,007.3

507.0601.9

4,102.1

Change frompreceding quarter

1988

II

29.1

10.7-5.6

12.8

III

22.1

10.112.4

24.2

Percent changefrom preceding

quarter

1988

II

3.0

9.137

1.3

III

2.2

8.48.7

2.4

NOTE.Percent changes are found in table 8.1 of the "Selected NIPA Tables." Dollar levels are found in table 1.6.

billion annual rate) (table 2). Lossesdue to the drought reduced the second-quarter increase in real GNP by 0.9percentage point and the third-quarterincrease by 0.6 percentage point. (Inthe fourth quarter, the change in realGNP will be reduced by about 1.3 per-centage points; in the first quarter of1989, when farm output returns to alevel not affected by the drought, thechange in real GNP will be raised byabout 2.8 percentage points.)

BEA's estimate of crop losseswas based on the difference betweenthe U.S. Department of Agriculture(USDA) June forecast of the physicalquantity of output, representing con-ditions before the drought, and theUSDA October crop production report.BEA allocated the crop loss for the yearover the quarters of the growing sea-son, with the harvest periods receiv-ing higher allocations. (See the Au-gust 1988 "Business Situation" for adescription of this procedure, as wellas for additional information about theeffects of the drought on farm out-put.) BEA estimated the livestocklosses using information about earlier-than-usual marketings of livestock andthen spread the loss over the threequarters.

The drought also affected farm in-ventories, farm income, and other es-timates that include farm products,but the impact is difficult to quantify.The extent to which the losses affectedfarm inventories depends on the extentto which they affected sales (or pur-chases) of farm products. Sales werenot greatly affected in the second quar-ter; sales were affected in subsequentquarters, but to an extent that can-not be quantified from the underlyingsource data. Although BEA has es-timated the impact of the drought onfarm output, estimates of its impact onother determinants of farm incomesuch as crop and livestock prices, farmsubsidies, and production expenseswere not made. (A sharp third-quarterdrop in agricultural subsidy paymentswas primarily related to the timing ofpayments to farmers, not to the effectsof the drought.)

Components of Real GNPThe slowdown in real final sales

in the third quarter was considerablysharper than that in GNP. Among thefinal sales components, net exports de-clined after a strong increase, govern-ment purchases declined after a mod-

NOTE.Quarterly estimates in the national income and product accounts are expressed at sea-sonally adjusted annual rates, and quarterly changes in them are differences between theserates. Quarter-to-quarter percent changes are annualized. Real, or constant-dollar, estimatesare expressed in 1982 dollars.

The advance GNP estimates for the third quarter are based on the following major sourcedata: For personal consumption expenditures (PCE), retail sales through September, and unitauto and truck sales through September; for nonresidential fixed investment, the same infor-mation for autos and trucks as for PCE, construction put in place for July and August; andmanufacturers' shipments of machinery and equipment for July and August; for residential in-vestment, Construction put in place for July and August, and housing starts through September;for change in business inventories, manufacturing and trade inventories for July and August,and unit auto inventories through September; for net exports of goods and services, merchandiseexports and merchandise imports for July and August; for government purchases of goods andservices, Federal outlays for July and August, and State and local construction put in placefor July and August; and for GNP prices, the Consumer Price Index through September, theProducer Price Index through September, the unit-value index for petroleum imports for Julyand August, and unit-value Indexes for exports and nonpetroleum imports for July. Some ofthe source data are subject to revision.

Farm output (1982 dollars) *

Change in farm inventories(1982 dollars)

Farm proprietors' income(current dollars) ,Agricultural subsidy payments-

Level

1988

I

163.20

14.1

44.711.9

II

150.992

5.3

43.414.0

III

144.5-15.0

-.3

29.01.0

Changefrom

precedingquarter

1988

II

-12.39 2

88

-1.32.1

III

-6.457

56

-14.4-134

1. Farm output is the national income and product accounts(NIPA) measure of gross output of the farm sectorthat is,output before deduction of consumption of materials andservices purchased from other industries. Subtraction of thesepurchases yields gross farm product (or value added), thecontribution of the farm sector to GNP. Gross farm product(1982 dollars) is found in table 1.8 of the "Selected NIPATables."

NOTE.Change in farm inventories is found in tables 1.2and 5.9 of the "Selected NIPA Tables," and farm proprietors'income is found in tables 1.4 and 2.1.

erate increase, and fixed investmentincreased much less than in the secondquarter; only personal consumption ex-penditures showed improvement, in-creasing somewhat more than in thesecond quarter. Inventory investmentdeclined slightly after a sharp drop.

Personal consumption expendituresReal personal consumption expen-

ditures (PCE) increased 3*/2 percentin the third quarter after a slightlysmaller increase in the second (table 3).Although the increases in total PCEwere roughly similar in size in thetwo quarters, the size of increases ineach of the three major types of ex-penditures differed considerably fromone quarter to the next. For each,the fluctuation can largely be tracedto a single componentused carswithin durables, clothing and shoeswithin nondurables, and energy withinservices.

Durable goods increased one-halfpercent after a 10-percent increase.The motor vehicles and the furnitureand household equipment categoriesboth contributed to the deceleration.Motor vehicles and parts increasedmuch less than in the second quarter,when they had been boosted by unusu-ally large net purchases of used carsPurchases of new cars increased in thethird quarter after decreasing in thesecond.

Nondurable goods increased 3x/2 per-cent after a slight increase in the sec-ond quarter. The acceleration waslargely attributable to clothing andshoes, which increased sharply afterseveral quarters of decline. "Other"nondurables, which increased some-


October 1988 SURVEY OF CURRENT BUSINESS

what more than in the second quarter,also contributed to the acceleration.

Services increased 4x/2 percent aftera smaller increase; most major cate-gories of services contributed to the ac-celeration. The largest step-up wasin energy services, reflecting increasedexpenditures for air conditioning dueto unusually hot weather in the firstpart of the quarter.Nonresidential fixed investment

Real nonresidential fixed investmentincreased 4x/2 percent in the third quar-ter, following a 15-percent increase inthe second. Most of the decelera-tion was accounted for by producers'durable equipment (PDE), althoughstructures also slowed (table 4).

In structures, a decline in construc-tion of nonresidential buildings wasoffset by an increase in constructionby public utilities; in the second quar-ter both categories had increased. Oilwell drilling and "other" constructionincreased slightly after two consecutivequarters of decline.

Information processing equipmentand transportation equipment werethe main contributors to the deceler-ation in PDE. A slowdown in informa-tion processing equipment can be at-tributed to a single componentoffice,computing, and accounting machinery.A downswing in transportation equip-ment was largely accounted for by asingle componentaircraft.

Residential fixed investmentReal residential fixed investment

increased l1^ percent in the thirdquarter, following little change inthe second. In the third quarter,a decline in single-family construc-tion was more than offset by in-creases in multifamily constructionand in the "other" componentwhichincludes mobile homes, additions andalterations, major replacements, andbrokers' commissions on house sales(table 4).

The decline in single-family con-struction mainly reflected the laggedeffect of a drop of 40,000 (season-ally adjusted annual rate) in the num-ber of single-family units started inthe second quarter; starts were un-changed in the third quarter (chart 2).The increase in multifamily construc-tion interrupted a 2-year downtrendthat reflected high rental vacancy ratesand the curtailment of tax incentivesfor investment in multifamily struc-tures. Despite the increase, multifam-ily construction in the third quarter

Table 3.Real Personal Consumption Expenditures[Seasonally adjusted at annual rates]

Personal consumption expenditures.

DurablesMotor vehicles and partsFurniture and household equipmentOther durables

NondurablesFoodClothing and shoesEnergy 1Other nondurables

Services ,HousingHousehold operation

Energy 2Other

TransportationMedical careOther services , both price mea-sures had increased 5 percent (table 8).The third-quarter difference in the in-creases in the two price measures waslargely traceable to a sharp deceler-ation in prices of imports. Prices ofimported petroleum declined consider-ably more than in the second quarter,and prices of other imported merchan-dise increased less.

PCE prices increased 5 percent,somewhat less than in the second quar-ter. Both PCE energy and "other" PCEprices were up less than in the sec-ond quarter. The deceleration in en-ergy prices was traceable to prices offuel oil and coal and of electricity andgas. Among other PCE prices, pricesof clothing and shoes fell 8 percentafter a IS^-percent jump, continuingthe recent pattern of sharp changes.Prices of transportation services in-creased considerably less than in thesecond quarter.

Table 8.Price Indexes (Fixed Weights):Change from Preceding Quarter

[Percent change at annual rates; based on seasonally adjustedindex numbers (1982=100)]

GNP

Less' ExportsPlus: Imports

Equals: Gross domestic purchases

Less: Change in businessinventories

Equals: Final sales to domesticpurchasers

Personal consumptionexpendituresFoodEnergyOther personal consumption

expendituresNonresidential structuresProducers' durable equipmentResidential investmentGovernment purchases

Addenda:Merchandise imports

Petroleum and productsOther merchandise

1987IV

3.8

2.64.3

4.0

4.0

4.62.7

-2.2

5.7221.4293.5

4.71648.5

I

3.5

6.23.5

3.2

3.3

2.42.1

-7.5

3.5412.93.05.9

q O

41912.6

1988II

5.0

6957

4.9

49

576057

561.13.4

345

63267.6

III

4.9

8.71.7

4.3

4.3

4.89.43.6

3.82.51.6.5

4.3

1.61994.6

NOTE.Percent changes in major aggregates are found in table 8.1 of the "Selected NIPA Tables." Dollar levels are found intable 3.8B.

NOTE.Percent changes intable 8.1 of the "Selected NIPAlevels are found in tables 7.1 and 7.3.

ites are found in[ost index number


6 SURVEY OF CURRENT BUSINESS October 1988

At least partly reflecting the impactof the drought, PCE food prices steppedup to a 9 ^ 2-percent increase from a 6-percent increase in the second quar-ter. The acceleration was widespread,but was particularly sharp for freshfruits and vegetables and for cerealsand bakery products; in contrast, meatprices were up less than in the secondquarter.

Among other components of finalsales, fixed investment prices regis-tered another modest1^2 percentincrease. Prices of nonresidentialstructures were up somewhat morethan in the second quarter, and PDEprices were up somewhat less; residen-tial investment prices registered smallincreases in both quarters. Prices paidby government increased 4x/2 percentin both quarters.

Personal IncomePersonal income increased $63^2 bil-

lion in the third quarter, following

a $71 billion increase in the second(chart 4 and table 9). The decelerationwas accounted for by the sharp down-swing in subsidy payments to farm-ers. Reflecting a swing from a largeincrease to a large decline in personaltax and nontax payments, disposablepersonal income (DPI) increased morein the third quarter than in the second.

Wages and salary disbursements in-creased $50 billion, about the sameas in the second quarter. Increasesin each of the major private industrycomponents were similar to those inthe second quarter. Average hourlyearnings were up somewhat more thanin the second quarter; employmentwas up slightly less, and averageweekly hours declined slightly aftersmall increase. Government wagesand salaries increased about the samein both quarters.

Farm proprietors' income declined$141/2 billion, following a decline of$1^2 billion in the second quarter. Thedropoff was accounted for by Federalagricultural subsidies, which fell from

Table 9.Personal Income and Its Disposition[Billions of dollars; seasonally adjusted at annual rates]

Wage and salary disbursementsManufacturingOther commodity-producingDistributiveServicesGovernment and government enterprises

Other labor incomeProprietors' income

Farm.Nonfarm

Rental income of personsPersonal dividend incomePersonal interest incomeTransfer paymentsLess' Personal contributions for social insurance

Personal income

Less' Personal tax and nontax paymentsImpact of the Tax Reform Act of 1986 1Other

Equals: Disposable personal income

Less' Personal outlays

Equals: Personal saving

Addenda: Special factors in personal income:

In wages and salaries:Federal Government and Postal Service pay adjustments

In farm proprietors' income:Agricultural subsidy payments

In transfer payments:Social security retroactive paymentsCost-of-living increases in Federal transfer payments

In personal contributions for social insurance:Social security rate and base changes and increase in

premium for supplementary medical insurance

Level

1988:111

2,460.0526.1175.3585.7723.9449.0219.5319.3

29.0290.2

20.097.3

579.3587.4196.7

4,086.0

587.1461

633.2

3,498.9

3,358.6

140.3

Change from preceding quarter

1987

IV

60.08.74.0

10.530.46.53.1

19.211.87.52.42.0

17.05.13.2

105.814.82.1

12.7

90.9

19.5

71.4

.7

13.3

1988I

33.68.32.2

10.94.67.62.2

-2.1-2.3

.201.64.2

19.514.3

44.61522328.0

59.8

53.9

5.9

1.9

-6.1

1.512.8

10.6

II

51.37.85.3

13.918.55.81.94.9

-1.36.1

-1.41.59.56.53.3

71.025.212.612.6

45.9

67.9

22.1

2.1

15

III

50.08.73.6

13.618.06.13.0

-9.51444.9

.92.3

15.64.63.2

63.613925611.7

77.4

65.0

12.5

.3

-13.0

$14 billion in the second quarter to $1billion in the third. The pattern in sub-sidies reflected the completion in thesecond quarter of deficiency and diver-sion payments made to farmers underthe 1988 Acreage Reduction Program.Farm income excluding subsidies de-clined in both quarters$1^2 billion inthe third and $3^2 billion in the sec-ond. These declines were attributableto the falloff in production; price in-creases for farm products, particularlycrops, offset most of the effect of thisfalloff in both quarters. The effect ofthe drought on farm income is diffi-cult to determine; the drought reducedoutput but, presumably, was at leastpartly responsible for the increases inprices.

Personal interest income was up$15^2 billion, the third consecutive

4

Selected Personal Incomeand Saving Measures

Billion $120

90 -

60

30

CHANGE IN PERSONAL INCOME

PERSONAL SAVING RATE

1. Estimates of the impact of the Tax Reform Act of 1986 on Federal Government personal tax payments and indirect effectson State and local government personal tax payments.

NOTEMost dollar levels are found in table 2.1 of the "Selected NIPA Tables."

1985 1986 1987 1988Based on Seasonally Adjusted Annual Rates

Note.Changes are from preceding quarter.U.S. Department of Commerce, Bureau of Economic Analysis 88-


October 1988 SURVEY OF CURRENT BUSINESS

quarter of progressively larger in-creases. The third-quarter increase re-flected increases in both interest ratesand asset holdings by persons.

Increases in other labor income, non-farm proprietors' income, transfer pay-ments, and personal dividend incomewere roughly similar to those in thesecond quarter. Rental income in-creased after a decline. Personal con-tributions for social insurance, whichare subtracted in deriving the personalincome total, increased about the samein both quarters.

Personal tax and nontax paymentsdecreased $14 billion, following a $25billion increase in the second quar-

ter. The sharp downswing reflectedthe effects of the Tax Reform Act of1986. Largely through lower with-holdings for Federal income taxes, theact led to reduced taxes in 1988, butby varying amounts in each quarter($33 billion in the first, $20^2 bil-lion in the second, and $46 billionin the third). The quarterly fluctua-tions reflected the act's effect on Fed-eral nonwithheld taxes (mainly decla-rations and net settlements). Net set-tlements dropped sharply after a largeincrease in the second quarter; thesecond-quarter increase had resultedfrom payments on income that hadbeen shifted from 1986 to 1987 to takeadvantage of lower tax rates.

Reflecting the downswing in per-sonal tax and nontax payments, DPIincreased $77^2 billion, or 9^2 percent,in the third quarter, compared with$46 billion, or 5^2 percent, in the sec-ond. Real DPI increased 41/2 percentafter no change, as the acceleration inDPI was augmented by the slowdownin PCE prices.

Personal outlays increased about thesame in both quarters, so the accel-eration in current-dollar DPI carriedthrough to personal saving. Personalsaving increased $121/2 billion after a$22 billion decline; the personal sav-ing rate increased 0.3 percentage pointto 4.0 percent.


8 SURVEY OF CURRENT BUSINESS

National Income and Product Accounts TablesSelected NIPA Tables

October 1988

New estimates in this issue: Third quarter 1988.The selected set of 54 national income and product accounts (NIPA) tables shown in this section presents quarterly estimates, which are

updated monthly. (In most of these tables, annual estimates are also shown.) The full set of 132 tables usually shown in July presents annualNIPA revisions. For more information on the presentation of the estimates, see "National Income and Product Accounts Estimates: When Theyare Released, Where They Are Available, and How They Are Presented" in the July 1988 SURVEY.

The full set of estimates for 1985-87 is in the July 1988 issue of the SURVEY; estimates for 1984 are in the July 1987 issue; estimates for 1983are in the July 1986 issue. Estimates for 1929-82 are in National Income and Product Accounts, 1929-82: Statistical Tables (GPO Stock No. 003-010-00174-7, price $23.00). These publications are available from the Superintendent of Documents; see address on inside front cover.

The full set of NIPA tables is available on diskette for $240 per year (12 updates, for the quarterly estimates prepared each month). Formore information, write to the Bureau of Economic Analysis (BE-54), U.S. Department of Commerce, Washington, DC 20230.

Table 1.1.Gross National Product[Billions of dollars]

Gross national productPersonal consumption

expendituresDurable goodsNondurable goodsServices

Gross private domesticinvestmentFixed investment

Nonr esidentialStructuresProducers' durable

equipmentResidential

Change in businessinventoriesNonfarmFarm

Net exports of goods andservicesExports....Imports

Government purchases of goodsand servicesFederal

National defenseNondefense

State and local

1986

4,240.3

2,807.5406.5943.6

1,457.3

665.9650.4433.9138.5

295.4216.6

15.517.4

-1.9

-104.4378.4482.8

871.2366.2277.5

88.7505.0

1987

4,526.7

3,012.1421.9997.9

1,592.3

712.9673.7446.8139.5

307.3226.9

39.240.7

-1.5

-123.0428.0551.1

924.7382.0295.3

86.7542.8

Seasonally adjusted at annual rates1987

II

4,484.2

2,992.2420.5995.3

1,576.4

698.5665.8438.2134.4

303.8227.6

32.731.41.3

122 2416.8539.0

915.7377.5294.8

82.6538.2

III

4,568.0

3,058.2441.4

1,006.61,610.2

702.8688.3462.1143.0

319.1226.2

14.517.83 3

1252440.4565.6

932.2386.3299.8

86.4546.0

IV

4,662.8

3,076.3422.0

1,012.41,641.9

764.9692.9464.1147.7

316.3228.8

72.072.8

g

125 7459.7585.4

947.3391.4299.2

92.2555.9

1988

I

4,724.5

3,128.1437.8

1,016.21,674.1

763.4698.1471.5140.1

331.3226.6

65.349.415.9

112 1487.8599.9

945.2377.7298.4

79.3567.5

II

4,823.8

3,194.6449.8

1,036.61,708.2

758.1714.4487.8142.3

345.5226.5

43.733.110.6

90 4507.1597.5

961.6382.2298.8

83.4579.4

III

4,899.5

3,257.6453.6

1,057.61,746.4

764.4721.4493.9143.3

350.5227.6

42.935.77.3

-84.9526.3611.2

962.4373.4294.1

79.3589.0

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

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

Gross national productFinal salesChange in business

inventoriesGoods

Final salesChange in business

inventoriesDurable goods


inventoriesNondurable goods


inventoriesServicesStructures

1986

4,240.34,224.7

15.51,697.91,682.3

15.5725.3721.1

4.3972.6961.3

11.32,118.4

424.0

1987

4,526.74,487.5

39.21,792.51,753.3

39.2776.3749.7

26.61,016.21,003.6

12.62,295.7

438.4


II

4,484.24,451.5

32.71,774.51,741.8

32.7767.1742.8

24.31,007.5

9991

8.42,276.2

433.4

III

4,568.04,553.5

14.51,812.91,798.4

14.5792.2789.3

2.91,020.710091

11.62,314.4

440.6

IV

4,662.84,590.7

72.01,849.31,777.3

72.0808.7758.2

50.51,040.71 019 1

21.62,363.9

449.5

1988I

4,724.54,659.2

65.31,879.51,814.2

65.3819.3792.7

26.61,060.11 021 5

38.62,405.2

439.9

II

4,823.84,780.1

43.71,928.01,884.3

43.7849.5831.6

17.81,078.510527

25.92,451.5

444.3

III

4,899.54,856.6

42.91,957.11,914.2

42.9867.9840.5

27.41,089.21,073.6

15.52,496.2

446.2

Table 1.2.Gross National Product in Constant Dollars[Billions of 1982 dollars]

Gross national productPersonal consumption

expendituresDurable goodsNondurable goodsServices

Gross private domesticinvestmentFixed investment

NonresidentialStructuresProducers' durable

equipmentResidential

Change in businessinventoriesNonfarmFarm

Net exports of goods andservicesExportsImports

Government purchases of goodsand servicesFederal


State and local

1986

3,721.7

2,455.2385.0879.5

1,190.7

643.5628.1433.1129.3

303.8195.0

15.417.925

-137.5378.4515.9

760.5333.4251.4

82.0427.1

1987

3,847.0

2,521.0390.9890.5

1,239.5

674.8640.4445.1125.5

319.6195.2

34.436.925

-128.9427.8556.7

780.2339.0264.9

74.1441.2


II

3,823.0

2,516.6391.3889.8

1,235.5

660.1632.3434.8120.9

313.8197.6

27.825.0

2.7

-126.0416.4542.3

772.2332.1264.8

67.3440.1

III

3,865.3

2,545.2406.5891.9

1,246.8

667.9654.9462.8128.0

334.7192.1

13.018.3

-5.3

-130.7440.9571.6

782.9342.1269.5

72.6440.8

IV

3,923.0

2,531.7387.6890.5

1,253.6

724.7657.6464.8132.1

332.7192.7

67.168.21 1

-126.0459.2585.2

792.6347.7268.2

79.5444.9

1988

I

3,956.1

2,559.8401.1892.7

1,265.9

728.9662.9473.4124.0

349.4189.5

66.051.914.1

-109.0486.2595.1

776.4327.8264.6

63.2448.7

II

3,985.2

2,579.0410.6893.6

1,274.8

715.1679.7490.2125.0

365.1189.6

35.330.15.3

-92.6496.9589.5

783.8331.6263.6

67.9452.2

III

4,007.3

2,601.3411.0901.7

1,288.5

719.7685.9495.7125.5

370.3190.2

33.834.0-.3

-94.9507.0601.9

781.1326.1256.7

69.4455.0


Table 1.4.Gross National Product by Major Type of Product inConstant Dollars

[Billions of 1982 dollars]

Gross national productFinal salesChange in business

inventoriesGoods


inventoriesDurable goods .


inventoriesNondurable goods


inventoriesServices ,Structures

1986

3,721.73,706.3

15.41,599.01,583.5

15.4714.6710.7

3.8884.4872.8

11.61,738.1

384.7

1987

3,847.03,812.6

34.41,663.31,628.9

34.4774.6750.7

23.9888.8878.2

10.51,801.1

382.6


II

3,823.03,795.2

27.81,645.61,617.8

27.8763.8742.3

21.5881.8875.5

6.31,797.2

380.2

III

3,865.33,852.2

13.01,677.51,664.5

13.0793.7790.8

2.9883.8873.7

10.11,806.6

381.1

IV

3,923.03,855.9

67.11,713.91,646.8

67.1812.7767.2

45.5901.2879.6

21.61,822.3

386.7

1988I

3,956.13,890.1

66.01,748.11,682.2

66.0832.5809.0

23.5915.6873.2

42.41,833.4

374.6

II

3,985.23,949.9

35.31,762.41,727.1

35.3861.7845.8

15.9900.7881.3

19.41,846.1

376.7

III

4,007.33,973.5

33.81,770.81,737.0

33.8875.3850.9

24.4895.5886.1

9.41,859.3

377.2




October 1988 SURVEY OF CURRENT BUSINESS 9

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

[Billions of dollars]

Gross national productLess: Exports of goods and

servicesPlus: Imports of goods and

servicesEquals: Gross domestic

purchases 1


Equals: Final sales to domesticpurchasers 2

1986

4,240.3

378.4

482.8

4,344.7

15.5

4,329.1

1987

4,526.7

428.0

551.1

4,649.7

39.2

4,610.5


II

4,484.2

416.8

539.0

4,606.3

32.7

4,573.6

III

4,568.0

440.4

565.6

4,693.2

14.5

4,678.7

IV

4,662.8

459.7

585.4

4,788.4

72.0

4,716.4

1988

I

4,724.5

487.8

599.9

4,836.6

65.3

4,771.3

II

4,823.8

507.1

597.5

4,914.2

43.7

4,870.5

III

4,899.5

526.3

611.2

4,984.4

42.9

4,941.5

1. Purchases in the United States of goods and services wherever produced.2. Final sales in the United States of goods and services wherever produced.NOTE.Percent changes from preceding period for selected items in this table are shown in

table 8.1.

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


Gross national productLess: Exports of goods and

servicesPlus: Imports of goods and

services ...Equals: Gross domestic

purchases l


Equals: Final sales to domesticpurchasers 2 .

1986

3,721.7

378.4

515.9

3,859.3

15.4

3,843.8

1987

3,847.0

427.8

556.7

3,975.9

34.4

3,941.5


II

3,823.0

416.4

542.3

3,949.0

27.8

3,921.2

III

3,865.3

440.9

571.6

3,996.0

13.0

3,983.0

IV

3,923.0

459.2

585.2

4,049.0

67.1

3,981.9

1988I

3,956.1

486.2

595.1

4,065.1

66.0

3,999.1

II

3,985.2

496.9

589.5

4,077.9

35.3

4,042.6

III

4,007.3

507.0

601.9

4,102.1

33.8

4,068.4

1. Purchases in the United States of goods and services wherever produced.2. Final sales in the United States of goods and services wherever produced.NOTE.Percent changes from preceding period for selected items in this table are shown in

table 8.1.

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

Table 1.8.Gross National Product by Sector in Constant Dollars[Billions of 1982 dollars]

Gross national productGross domestic product

BusinessNonfarm

Nonfarm less housingHousing

Farm

Households and institutionsPrivate householdsNonprofit institutions

GovernmentFederalState and local

Rest of the worldAddendum:

Gross domestic businessproduct less housing

1986

4,240.34,205.43,608.93,547.13,203.9

343.275.413 6

153.19.1

144.0443.4143.5299.934.9

3,257.7

1987

4,526.74,497.23,855.53,787.83,416.5

371.375.9

-8.1168.9

9.2159.8472.7151.0321.729.5

3,476.7


II

4,484.24,455.93,819.93,743.23,376.0

367.279.2

-2.5166.3

9.2157.1469.8150.8319.028.2

III

4,568.04,541.23,893.83,832.23,457.7

374.576.8

-15.1171.7

9.2162.5475.7151.3324.426.8

IV

4,662.84,631.83,972.93,905.83,522.7

383.173.4

-6.4176.4

9.3167.1482.5152.7329.931.0

1988

I

4,724.54,702.14,028.13,965.43,576.0

389.477.7

-15.0180.9

9.3171.6493.1156.7336.4

22.4

II

4,823.84,802.54,117.54,048.03,654.0

394.074.6

-5.1185.6

9.4176.1499.4157.4342.121.3

III

4,899.54,876.44,179.54,110.53,709.3

401.274.25 1

191.29.6

181.6505.7157.9347.823.1

Gross national productGross domestic product.

BusinessNonfarm

Nonfarm less housingHousing

FarmStatistical discrepancy

Households and institutionsPrivate householdsNonprofit institutions

GovernmentFederalState and local

Rest of the worldAddendum:

Gross domestic businessproduct less housing

1986

3,721.73,690.93,202.03,130.42,857.9

272.483.7

-12.1125.5

8.8116.8363.3122.5240.830.9

2,920.4

1987

3,847.03,821.43,322.53,247.12,965.7

281.482.5

-7.0129.0

8.8120.2369.9123.5246.425.6

3,032.1


II

3,823.03,798.43,300.93,221.12,940.6

280.582.0

-2.2128.1

8.8119.3369.4123.4246.1

24.6

III

3,865.33,842.03,341.23,272.22,989.5

282.782.0

-13.0130.0

8.8121.2370.8123.7247.123.3

IV

3,923.03,896.33,393.63,317.23,032.8

284.481.8

-5.4130.7

8.8121.9372.0123.9248.1

26.7

1988

I

3,956.13,936.63,430.53,360.93,074.8

286.182.3

-12.8133.3

8.9124.4372.8123.9249.019.5

II

3,985.23,967.03,458.93,393.13,105.7

287.470.1

-4.3134.4

8.9125.5373.7123.8249.918.3

HI

4,007.33,987.73,476.03,415.83,127.1

288.864.4

-4.3136.7

9.0127.7375.1124.1251.019.5


NOTE.Percent changes from preceding period for selected items in this table are shown intable 8,1.


10 SURVEY OF CURRENT BUSINESS October 1988Table 1.9.Relation of Gross National Product, Net National Product,

National Income, and Personal Income[Billions of dollars]

Table 1.14.National Income by Type of Income[Billions of dollars]

Gross national productLess: Capital consumption

allowances with capitalconsumption adjustment

Capital consumptionallowances withoutcapital consumptionadj ustment

Less: Capitalconsumptionadjustment

Equals: 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 consumptionadj ustments

Net interestContributions for social

insuranceWage accruals less

disbursementsPlus: Government transfer

payments to persons ,Personal interest income....Personal dividend income ..Business transfer

paymentsEquals: Personal income

1986

4,240.3

455.9

488.4

32.53,784.4

348.4

25.1-136

12.63,437.1

298.9331.9

378.1

0

496.0499.182.8

25.13,531.1

1987

4,526.7

480.0

507.6

27.64,046.7

366.3

28.1-81

18.33,678.7

310.4353.6

399.1

0

520.6527.088.6

28.13,780.0


II

4,484.2

477.0

504.6

27.64,007.2

363.8

27.9-2.5

13.83,631.8

305.2348.1

395.4

0

519.9517.987.3

27.93,736.1

III

4,568.0

484.6

510.8

26.24,083.4

370.3

28.5-15.1

8.33,708.0

322.0358.3

400.9

.2

523.2533.089.9

28.53,801.0

IV

4,662.8

489.5

516.4

26.94,173.3

374.2

29.0-6.4

25.63,802.0

316.1369.5

408.6

-.2

527.8550.091.9

29.03,906.8

1988

I

4,724.5

498.3

520.8

22.54,226.2

379.4

29.6-15.0

18.63,850.8

316.2373.9

433.3

0

546.7554.293.5

29.63,951.4

II

4,823.8

503.2

524.1

20.94,320.5

385.8

30.3-5.1

19.23,928.8

326.5380.6

440.9

0

552.5563.795.0

30.34,022.4

III

4,899.5

508.0

526.0

18.04,391.5

391.3

31.1

8.0

396"5

448.4

0

556.4579.397.3

31.14,086.0

Table 1.10.Relation of Gross National Product, Net National Product,and National Income in Constant Dollars


Gross national product.. . ..Less: Capital consumption

allowances with capitalconsumption adjustment

Equals: Net national productLess: Indirect business tax and

nontax liability plus businesstransfer payments lesssubsidies plus current surplusof government enterprises

Statistical discrepancyEquals: National income

3,721.7

44323,278.5

312.1-12.1

2,978.5

3,847.0

46083,386.2

319.2-7.0

3,074.0

3,823.0

458.23,364.8

319.6-2.2

3,047.3

3,865.3

46303,402.2

321.8-13.0

3,093.4

3,923.0

46823,454.8

321.0-5.4

3,139.3

3,956.1

47293,483.2

324.4-12.8

3,171.5

3,985.2

47733,507.9

326.2-4.3

3,186.0

4,007.3

48193,525.3

327.8

Table 1.11.Command-Basis Gross National Product in ConstantDollars

[Billions of 1982 dollars]Gross national productLess: Net exports of goods and

ExportsImports

Equals: Gross domesticpurchases

Plus: Command-basis netexports of goods and services....

Command-basisexports l

ImportsEquals: Command-basis gross

national productAddendum:

Terms of trade 2

3,721.7

1375378.4515.9

3,859.3

-111.5

404.4515.9

3,747.7

1068

3,847.0

1289427.8556.7

3,975.9

-124.3

432.4556.7

3,851.6

1010

3,823.0

1260416.4542.3

3,949.0

-122.9

419.4542.3

3,826.0

1007

3,865.3

1307440.9571.6

3,996.0

-126.5

445.1571.6

3,869.4

1010

3,923.0

1260459.2585.2

4,049.0

-125.6

459.6585.2

3,923.4

1001

3,956.1

1090486.2595.1

4,065.1

-111.2

483.9595.1

3,953.9

99.5

3,985.2

926496.9589.5

4,077.9

-89.2

500.3589.5

3,988.7

100.7

4,007.3

949507.0601.9

4,102.1

-83.6

518.3601.9

4,018.5

102.2

National incomeCompensation of employees

Wages and salariesGovernment and

government enterprisesOther

Supplements to wages andsalariesEmployer contributions for

social insuranceOther labor income

Proprietors' income withinventory valuation andcapital consumptionadjustmentsFarm

Proprietors' income withinventory valuationadjustment

Capital consumptionadj ustment

NonfarmProprietors' incomeInventory valuation

adjustment ..Capital consumption

adjustmentRental income of persons with

capital consumptionadjustmentRental income of personsCapital consumption

adjustmentCorporate profits with

inventory valuation andcapital consumptionadjustmentsCorporate profits with

inventory valuationadjustment ,Profits before tax

Profits tax liabilityProfits after tax

DividendsUndistributed profits

Inventory valuationadjustment

Capital consumptionadj ustment .

Net interestAddenda:

Corporate profits after taxwith inventory valuationand capital consumptionadjustmentsNet cash flow with

inventory valuation andcapital consumptionadj ustmentsUndistributed profits with

inventory valuation andcapital consumptionadjustments

Capital consumptionallowances with capitalconsumptionadjustment

Less: Inventory valuationadjustment

Equals* Net cash flow

1986

3,437.12,507.12,094.0

393.71,700.3

413.1

217.0196.1

286.736.4

44.5

-8.1250.3212.7

-.1

37.8

12.457.4

-45.0

298.9

244.7236.4106.6129.888.241.6

8.3

54.2331.9

192.3

386.5

104.1

2824

8.33782

1987

3,678.72,683.42,248.4

420.11,828.3

435.0

227.1207.9

312.943.0

50.6

7 6270.0233.0

-1.0

38.0

18.466.2

-47.8

310.4

258.7276.7133.8142.995.547.4

-18.0

51.7353.6

176.6

378.6

81.1

297.5

-18.03966


II

3,631.82,652.02,220.6

416.91,803.7

431.3

225.0206.4

308.943.0

50.7

7 7265.9228.6

-1.0

38.2

17.865.5

-47.7

305.2

253.6273.7132.6141.194.047.0

-20.0

51.5348.1

172.6

373.9

78.5

295.4

-20.03939

III

3,708.02,702.82,265.3

423.21,842.1

437.5

228.2209.3

306.835.2

42.9

7 7271.5235.1

-1.1

37.6

18.167.1

-49.0

322.0

269.9289.4140.0149.597.052.4

-19.5

52.1358.3

182.1

384.7

85.0

299.7

-19.5404 2

IV

3,802.02,769.92,324.8

429.21,895.6

445.1

232.7212.4

326.047.0

54.5

7 5279.0243.4

-1.7

37.4

20.569.1

-48.6

316.1

263.7281.9136.2145.799.346.4

-18.2

52.4369.5

179.9

384.2

80.5

303.7

-18.24024

1988

I

3,850.82,816.42,358.7

437.11,921.6

457.7

243.1214.6

323.944.7

52.2

7 5279.2243.7

-1.2

36.6

20.569.6

-49.1

316.2

266.8286.2136.9149.4101.348.1

-19.4

49.4373.9

179.3

387.8

78.1

309.8

-19.4407 3

II

3,928.82,874.02,410.0

442.91,967.1

464.0

247.5216.5

328.843.4

50.8

-7.3285.3250.9

-1.7

36.1

19.168.0

-49.0

326.5

278.5305.9143.2162.7103.159.6

-27.4

48.0380.6

183.2

3934

80.1

313.3

-27.44208

III

2,931.12,460.0

449.02,011.0

471.1

251.6 r219.5 \

319.329.0

36.1

-7.1290.2256.2

-1.4

35.4

20.068.8

-48.8

ibsj

-27.4

45.3396.5

317.0

-27.4

1. Exports of goods and services deflated by the implicit price deflator for imports of goods andservices.

2. Ratio of the implicit price deflator for exports of goods and services to the implicit pricedeflator for imports of goods and services with the decimal point shifted two places to the right.




Table 1.16.Gross Domestic Product of Corporate Business in CurrentDollars and Gross Domestic Product of Nonfinancial CorporateBusiness in Current and Constant Dollars

Table 1.17.Auto Output[Billions of dollars]

Gross domestic productof corporate business

Capital consumption allowanceswith capital consumptionadjustment

Net domestic productIndirect business tax and

nontax liability plusbusiness transfer paymentsless subsidies

Domestic incomeCompensation of employees...

Wages and salariesSupplements to wages

and salariesCorporate profits with

inventory valuation andcapital consumptionadjustmentsProfits before tax


DividendsUndistributed profits...

Inventory valuationadjustment

Capital consumptionadjustment

Net interestGross domestic product

of financial corporatebusiness

Gross domestic productof nonfinancialcorporate business




Domestic incomeCompensation of employees-

Wages and salariesSupplements to wages

and salaries ,Corporate profits with

inventory valuation andcapital consumptionadjustmentsProfits before tax


DividendsUndistributed profits-

Inventory valuation

Capital consumptionadjustment

Net interest

Gross domestic productof nonfinancialcorporate business




Domestic income

1986 1987


II III IV

1988I II III

Billions of dollars

2,556.2

282.42,273.8

243.62,030.21,693.71,422.2

271.5

266.9204.4106.697.972.825.1

8.3

54.269.5

184.6

2,371.6

264.12,107.5

227.71,879.81,564.91,313.4

251.5

230.6172.676.895.874.821.1

8.3

49.684.3

2,717.9

297.52,420.4

257.52,162.91,803.71,520.6

283.0

274.0240.3133.8106.583.423.1

-18.0

51.785.2

204.4

2,513.5

276.22,237.3

239.81,997.51,661.41,399.7

261.8

237.5210.299.0

111.283.827.4

180

45.398.6

2,687.2

295.42,391.9

256.02,135.91,782.41,502.2

280.2

270.8239.3132.6106.780.126.6

-20.0

51.582.7

204.5

2,482.7

274.52,208.3

238.41,969.81,640.51,381.6

258.9

233.3207.997.2

110.680.729.9

200

45.596.0

2,752.6

299.72,452.9

261.62,191.31,816.01,531.4

284.6

286.7254.1140.0114.283.430.8

-19.5

52.188.6

205.7

2,546.9

278.02,268.8

243.62,025.31,673.31,409.9

263.3

250.4224.6105.3119.383.935.4

-19.545.3

101.6

2,793.0

303.72,489.3

262.82,226.51,858.41,569.3

289.1

274.6240.4136.2104.291.312.9

-18.2

52.493.5

207.4

2,585.6

281.32,304.3

244.52,059.71,714.71,447.0

267.8

238.4211.6101.7109.990.819.1

182

45.0106.6

2,845.1

309.82,535.4

267.72,267.61,887.71,594.7

293.1

286.0256.0136.9119.275.343.9

-19.4

49.493.9

212.0

2,633.2

286.82,346.4

249.22,097.21,739.61,468.4

271.2

250.6228.4104.4124.174.649.5

19441.5

107.1

2,901.1

313.32,587.8

271.82,316.11,927.91,630.8

297.1

291.1270.5143.2127.387.140.2

-27.4

48.097.1

217.1

2,684.0

290.02,394.0

253.02,141.11,777.81,502.8

275.0

252.6240.5109.4131.186.244.9

274

39.5110.7

317.0

277.3

i"967"71,665.8

301.9

89.1

-27.4

45.3100.5

293.2

258.2

"iji'ti1,536.1

279.6

88"l

27 4

36.9114.6

Billions of 1982 dollars

2,177.2

260.21,917.0

199.11,717.9

2,270.4

269.42,001.0

203.21,797.8

2,248.0

268.11,979.9

203.31,776.5

2,296.1

270.62,025.5

205.41,820.1

2,322.5

273.22,049.3

204.31,845.1

2,363.5

275.72,087.8

206.31,881.4

2,380.9

278.12,102.9

207.81,895.1

280.6

209.1

Auto outputFinal sales

Personal consumptionexpendituresNew autosNet purchases of used autos..

Producers' durable equipment..New autos .Net purchases of used autos..

Net exports of goods andservicesExportsImports

Government purchases ofgoods and services

Change in business inventories

NewUsed

Addenda:Domestic output of new

autos 1Sales of imported new autos 2...

1986

120.6119.0

136.3101.434.920.345.1

-24.7

-39.06.3

45.3

1.4

1.61.4.2

98.255.3

1987

116.3109.4

130.094.135.919.244.4

-25.2

-41.36.6

47.9

1.5

6.96.7.2

94.855.0


II

113.1108.0

127.791.436.218.744.9

-26.2

-40.16.8

46.9

1.6

5.24.3.9

92.653.5

III

115.3126.2

144.4109.035.421.747.2

-25.6

-41.36.4

47.7

1.4

10 81241.6

90.160.2

IV

120.6106.6

128.090.937.019.344.9

-25.6

-42.38.1

50.3

1.6

14.014.00

98.757.2

1988I

113.1117.8

133.9100.233.722.147.9

-25.7

-40.18.2

48.3

1.9

479*14.4

88.760.2

II

130.3129.3

139.8100.139.723.750.0

-26.4

-35.88.3

44.1

1.6

1.13.4

-2.3

104.260.6

III

130.9128.8

140.2102.238.023.751.4

-27.7

-36.58.3

44.8

1.3

2.11.2

.9

99.660.3

1. Consists of final sales and change in business inventories of new autos assembled in theUnited States.

2. Consists of personal consumption expenditures, producers' durable equipment, and govern-ment purchases.

Table 1.18.Auto Output in Constant Dollars[Billions of 1982 dollars]

Auto outputFinal sales

Personal consumptionexpendituresNew autosNet purchases of used autos..

Producers' durable equipment..New autosNet purchases of used autos..

Net exports of goods andservicesExportsImports. ..


Change in business inventoriesof new and used autosNewUsed

Addenda:Domestic output of new

autos lSales of imported new autos 2...

1986

106.2106.6

119.089.229.818.239.7

-21.5

-31.95.3

37.3

1.3

-.35.2

85.348.7

1987

100.695.1

108.880.028.816.337.7

-21.5

-31.45.4

36.8

1.4

5.55.3

.2

80.546.8


II

98.494.5

107.378.229.116.038.4

-22.4

-30.25.6

35.9

1.4

3.93.1.8

78.945.8

III

99.2109.0

120.292.427.818.640.0

-21.4

-31.15.3

36.3

1.3

-9.81121.3

75.851.0

IV

102.991.4

105.376.528.816.437.8

-21.4

-31.86.6

38.4

1.4

11.511.50

83.148.1

1988

I

96.0101.0

110.484.326.019.040.3

-21.2

-30.16.7

36.8

1.7

-4.9-8.5

3.6

74.250.7

II

111.2110.4

115.583.931.620.141.9

-21.8

-26.56.8

33.3

1.4

.82.820

87.350.8

III

110.4110.0

114.585.029.520.242.8

-22.5

-26.06.7

32.7

1.2

.4-.3

.7

82.650.2

1. Consists of final sales and change in business inventories of new autos assembled in theUnited States.

2. Consists of personal consumption expenditures, producers' durable equipment, and govern-ment purchases.


12 SURVEY OF CURRENT BUSINESS October 1988Table 1.19.Truck Output

[Billions of dollars]Table 1.20.Truck Output in Constant Dollars


Truck output *Final sales

Personal consumptionexpenditures

Producers' durable equipment..Net exports of goods and

servicesExportsImports...


Change in business inventories...

1986

55.254.8

26.030.8

-7.33.0

10.3

5.3.5

1987

59.658.3

27.733.0

-7.03.3

10.3

4.71.3


II

57.858.0

28.633.1

-7.93.0

11.0

4.2-.2

III

58.061.6

29.134.3

-6.63.39.9

4.8-3.6

IV

64.660.9

27.334.2

564.29.8

5.03.7

1988

I

65.866.2

28.736.4

-4.94.19.0

6.0-.4

II

65.365.4

28.836.1

533.79.0

5.80

III

64.367.0

30.0'37.2

563.99.5

5.5-2.7

Truck output l

Final salesPersonal consumption

expendituresProducers' durable equipment ..Net exports of goods and

servicesExportsImports


Change in business inventories...

1986

47.847.4

22.526.6

6 32.68.9

4.6.4

1987

50.849.7

23.528.2

-6.02.88.8

4.01.1


II

49.449.6

24.428.4

-6.82.69.4

3.6__2

III

49.452.5

24.829.2

562.88.5

4.1-3.0

IV

54.951.9

23.029.3

473.68.3

4.33.0

1988

I

55.856.2

24.231.0

4 13^57.6

5.1-.3

II

55.555.5

24.330.8

4 53.17.6

4.90

III

53.856.3

25.231.1

473.28.0

4.6-2.4

1. Includes new trucks only.

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

1. Includes new trucks only.

Table 2.2.Personal Consumption Expenditures by Major Type ofProduct

Wage and salarydisbursementsCommodity-producing

industriesManufacturing

Distributive industries

Government andgovernment enterprises

Other labor incomeProprietors' income with

inventory valuation andcapital consumptionadjustmentsF_Nonfarm

Rental income of personswith capital consumptionadjustment

Personal dividend incomePersonal interest incomeTransfer payments

Old-age, survivors,disability, and healthinsurance benefits

Government unemploymentinsurance benefits

Veterans benefitsGovernment employees

retirement benefitsOther transfer payments

Aid to families withdependent children

OtherLess: Personal contributions

for social insuranceLess: Personal tax and nontax

paymentsEquals: Disposable personal

incomeLess: Personal outlays

Personal consumptionexpenditures

Interest paid by consumers tobusiness

Personal transfer payments toforeigners (net)

Equals: Personal savingAddenda:

Disposable personal income:Total, billions of 1982

dollarsPer capita:

Current dollars1982 dollars

Population (mid-period,millions)

Personal saving aspercentage of disposableP

1986

,531.1

2,094.0

625.5473.1498.9575.9

393.7196.1

286.736.4

250.3

12.482.8

499.1521.1

269.3

16.316.7

70.6148.2

16.3131.9

161.1

511.4

3,019.62,898.0

2,807.5

89.1

1.4121.7

2,640.9

12,49610,929

241.7

4.0

1987

3,780.0

2,248.4

649.8490.3531.7646.8

420.1207.9

312.943.0

270.0

18.488.6

527.0548.8

282.9

14.716.6

75.7158.916.7

142.1

172.0

570.3

3,209.73,105.5

3,012.1

92.1

1.3104.2

2,686.3

13,15711,012

243.9

3.2

[Billions ot dollars]Seasonally adjusted at annual rates

1987

II

3 736 1

2,220.6

642.8484.6526.1634.8

416.9206.4

308.943.0

265.9

17.887.3

517.9547.8

282.8

15.116.7

75.5157.616.7

140.9

170.5

582.0

3,154.13,084.7

2,992.2

91.1

1.469.5

2,652.8

12,94710,889

243.6

2.2

III

3,801.0

2,265.1

652.8492.6536.8652.4

423.0209.3

306.835.2

271.5

18.189.9

533.0551.7

284.5

14.516.6

76.7159.4

16.8142.7

172.7

576.2

3,224.93,152.3

3,058.2

92.8

1.372.6

2,683.9

13,20410,989

244.2

2.3

IV

3,906.8

2,325.1

665.5501.3547.3682.8

429.5212.4

326.047.0

279.0

20.591.9

550.0556.8

286.5

13.416.6

77.1163.3

16.8146.5

175.9

591.0

3,315.83,171.8

3,076.3

94.4

1.2144.0

2,728.9

13,54311,145

244.8

4.3

1988

I

3,951.4

2,358.7

676.0509.6558.2687.4

437.1214.6

323.944.7

279.2

20.593.5

554.2576.3

298.1

13.917.0

80.4166.9

16.9150.0

190.2

575.8

3,375.63,225.7

3,128.1

96.4

1.2149.9

2,762.3

13,76011,260

245.3

4.4

II

4,022.4

2,410.0

689.1517.4572.1705.9

442.9216.5

328.843.4

285.3

19.195.0

563.7582.8

300.4

13.417.1

82.3169.6

17.1152.5

193.5

601.0

3,421.53,293.6

3,194.6

98.2

.8127.8

2,762.2

13,91911,237

245.8

3.7

III

Personal consumption2,460.0 expenditures

Durable goods701.4526 . 1 Motor vehicles and parts585.7 Furniture and household723 9 equipment

Other449-0

Nondurable goods219

'5 Food

Clothing and shoesGasoline and oilOther nondurable goods

319 3 Fuel oil and coal9Q n Other

290.2 ServicesHousingHousehold operation

20.0 FlpHriHtv and cr794' Services14,195 Housing11,335 Household operation

Electricity and gas246.5 Other

TransportationMedical care

4 0 Other

1986

2,455.2385.0176.4

143.265.4

879.5448.0157.697.3

176.622.0

154.61,190.7

348.3152.176.675.585.4

251.5353.4

1987

2,521.0390.9170.4

151.069.6

890.5450.4160.598.3

181.321.1

160.21,239.5

358.3157.079.078.089.3

268.2366.6


II

2,516.6391.3169.9

151.070.4

889.8450.1158.299.6

181.921.3

160.61,235.5

357.1158.180.577.688.9

266.6364.8

III

2,545.2406.5184.2

152.769.7

891.9449.4162.997.8

181.720.4

161.41,246.8

359.3159.280.578.690.1

270.9367.3

IV

2,531.7387.6166.7

151.969.0

890.5449.2160.398.4

182.621.4

161.21,253.6

361.7158.179.279.090.8

274.0369.0

1988I

2,559.8401.1173.5

157.370.3

892.7451.4159.698.8

183.022.0

161.01,265.9

363.6160.480.580.091.7

276.9373.2

II

2,579.0410.6179.0

161.869.8

893.6453.2156.399.8

184.221.8

162.41,274.8

365.6161.180.680.492.9

279.5375.8

III

2,601.3411.0179.5

161.070.6

901.7452.4163.298.6

187.623.0

164.51,288.5

368.0165.583.981.694.2

283.2377.7




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 accruals...;Excise taxesCustoms dutiesNontaxes

Contributions for socialinsurance

ExpendituresPurchases of goods and services-


Transfer paymentsTo persons .To foreigners

Grants-in-aid to State and localgovernments

Net interest paidInterest paid ,

To persons and businessTo foreigners ,

Less: Interest received bygovernment ,

Subsidies less current surplus ofgovernment enterprisesSubsidiesLess: Current surplus of

government enterprisesLess: Wage accruals less

disbursementsSurplus or deficit ( - ),

national income andproduct accounts

Social insurance fundsOther..

1986

828.3

361.5353.6

7.1.8

83.917.866.1

50.830.913.76.3

332.21,033.9

366.2277.588.7

399.8385.9

13.9

106.8135.4158.3135.622.6

22.8

25.726.5

8

0

-205.617.4

-223.1

1987

916.5

405.6396.8

7.41.4

105.817.788.1

54.031.815.46.8

351.01,074.2

382.0295.386.7

414.2402.0

12.2

102.7143.0162.5138.424.1

19.4

32.430.8

-1.6

0

-157.827.5

-185.3


II

920.0

413.1403.9

7.81.3

105.017.787.2

54.331.915.66.8

347.71,064.0

377.5294.882.6

413.4402.2

11.2

105.5139.8159.5135.623.9

19.6

27.827.3

-.5

0

-144.023.2

-167.2

III

930.1

413.3403.9

7.71.7

110.517.992.6

53.931.715.26.9

352.41,068.4

386.3299.886.4

414.2403.5

10.7

101.9143.8163.0139.123.9

19.3

22.620.8

-1.8

.2

-138.327.8

-166.1

IV

944.4

422.3414.1

6.71.6

107.717.989.8

55.032.215.87.0

359.41,104.9

391.4299.292.2

422.5406.1

16.4

101.4149.5168.4143.824.6

18.9

39.737.6

-2.1

-.2

-160.434.9

-195.3

1988I

951.0

404.6395.9

7.11.5

107.218.488.8

55.932.416.57.0

383.41,106.1

377.7298.479.3

434.4422.9

11.5

111.1149.9172.5146.026.6

22.6

33.029.6

-3.3

0

-155.144.8

-199.8

II

983.0

425.0415.1

8.21.7

111.718.393.4

55.933.015.97.0

390.31,116.3

382.2298.883.4

437.6426.5

11.0

110.4152.1171.8145.026.8

19.8

34.032.5

-1.5

0

-133.349.8

-183.1

III

409.0399.3

8.31.4

57.233.316.37.5

397.01,098.9

373.4294.179.3

440.4428.8

11.6

109.4152.8173.2144.428.8

20.4

22.816.3

-6.6

0

55.5

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


FederalNational defense

Durable goodsNondurable goodsServices

Compensation ofemployeesMilitary

Other servicesStructures

NondefenseDurable goodsNondurable goods

Commodity CreditCorporation inventorychange

Other nondurablesServices

Compensation ofemployees


State and localDurable goodsNondurable goodsServices

Compensation of employees-Other services

Structures

1986

871.2366.2277.583.511.1

176.4

104.070.233.872.46.6

88.74.1

11.1

5.35.7

65.9

39.526.47.6

505.024.340.0

380.4299.980.560.3

1987

924.7382.0295.389.810.5

187.8

108.973.235.778.97.2

86.74.13.2

-3.36.5

70.9

42.128.88.5

542.826.944.1

409.6321.787.962.2


11

915.7377.5294.889.510.2

188.5

108.773.035.779.86.6

82.64.0-.4

-7.57.1

70.3

42.128.28.7

538.226.643.8

406.0319.087.061.8

III

932.2386.3299.893.110.9

188.1

109.073.135.979.17.8

86.44.21.9

-4.86.7

71.5

42.329.18.9

546.027.344.9

413.1324.488.760.7

IV

947.3391.4299.288.411.3

191.9

110.073.936.281.97.6

92.24.54.9

1.46.3

74.5

42.731.88.3

555.927.845.0

420.0329.990.263.1

1988I

945.2377.7298.483.810.8

197.3

112.775.537.284.66.6

79.34.6

-9.1

17.58.4

76.4

44.032.37.5

567.528.445.3

428.7336.492.265.2

II

961.6382.2298.884.211.4

195.8

112.675.737.083.17.5

83.44.88.2

-16.88.6

78.8

44.734.1

7.9579.4

29.247.0

436.7342.194.666.4

III

962,4373.4294.180.811.0

195.0

112.875.837.082.27.2

79.34.6

11.7

-19.78.0

78.4

45.133.38.0

589.030.048.0

444.6347.8

96.866.4

ReceiptsPersonal tax and nontax

receiptsIncome taxesNontaxesOther

Corporate profits tax accrualsIndirect business tax and

nontax accrualsSales taxesProperty taxesOther

Contributions for socialinsurance

Federal grants-in-aidExpenditures...

Purchases of goods and services...Compensation of employeesOther

Transfer payments to personsNet interest paid

Interest paidLess: Interest received by

government .Less: Dividends received by

governmentSubsidies less current surplus of

government enterprisesSubsidiesLess: Current surplus of

government enterprisesLess: Wage accruals less

disbursementsSurplus or deficit (-),

national income andproduct accounts

Social insurance funds .Other .

1986

623.0

150.076.860.412.722.7

297.6139.9114.643.1

46.0106.8561.9505.0299.9205.2110.1

-34.847.6

82.4

5.5

-13.1.8

13.9

0

61.256.25.0

1987

655.7

164.786.164.813.827.9

312.3148.7121.941.6

48.1102.7602.8542.8321.7221.1118.7

37 753.3

91.0

6.9

-14.01.0

15.0

0

52.962.1

-9.2


II

659.3

168.990.964.313.727.6

309.5147.4121.041.2.

47.7105.5597.9538.2319.0219.2117.737 352.6

89.9

6.7

-13.9.9

14.9

0

61.461.2

.1

III

659.1

162.983.565.413.929.4

316,5151.5122.842.1

48.4101.9606.2546.0324.4221.6119.738 054.0

92.1

7.2

-14.31.0

15.3

0

52.963.010 1

IV

666.9

168.688.166.514.128.5

319.2152.5124.742.0

49.2101.4617.2555.9329.9226.0121.738 855.4

94.2

7.5

-14.11.0

15.1

0

49.764.6

-14.8

1988I

685.5

171.389.367.614.329.7

323.5154.3126.642.6

49.9111.1629.7567.5336.4231.1123.839 556.8

96.3

7.8

-14.41.0

15.5

0

55.866.1

-10.3

II

698.4

176.092.668.714.731.5

329.8157.9128.543.4

50.6110.4642.1579.4342.1237.3126.040358.3

98.6

8.1

-14.71.1

15.8

0

56.267.7

-11.5

III

178.293.369.915.0

334.2159.3130.344.7

51.4109.4652.2589.0347.8241.3127.5

-41.259.7

101.0

8.4

-14.81.0

15.9

0

69.3

Table 3.8B.Government Purchases of Goods and Services by Type inConstant Dollars


Government purchases ofgoods and services..

FederalNational defense

Durable goodsNondurable goodsServices ... ..

Compensation ofemployeesMilitaryCivilian... ...


NondefenseDurable goodsNondurable goods

Commodity CreditCorporation inventory

Other nondurablesServices

Compensation ofemployees


State and localDurable goodsNondurable goodsServices ...

Compensation of employees...Other services

Structures

1986

760.5333.4251.478.115.4

152.3

88.859.928.963.45.6

82.04.5

13.4

7.85.6

57.1

33.723.4

6.9427.1

22.544.3

306.9240.866.153.4

1987

780.2339.0264.987.914.7

156.4

89.360.229.067.25.9

74.14.82.5

3 96.4

59.2

34.225.07.5

441.224.446.4

316.0246.4

69.654.3


II

772.2332.1264.887.214.6

157.6

89.160.129.068.55.5

67.34.6

-3.8

11 07.2

58.8

34.224.57.8

440.124.246.3

315.4246.1

69.354.3

III

782.9342.1269.592.114.6

156.4

89.360.229.167.16.3

72.64.9

.3

636.6

59.5

34.425.27.8

440.824.746.6

316.8247.1

69.752.8

IV

792.6347.7268.288.415.6

158.0

89.560.329.268.66.1

79.55.44.9

-1.16.1

61.8

34.427.47.3

444.925.146.9

318.5248.1

70.454.4

1988I

776.4327.8264.6

84.914.6

159.9

89.360.129.270.5

5.263.2

5.6-11.1

1938.2

62.2

34.527.76.5

448.725.547.5

320.3249.071.355.4

II

783.8331.6263.685.114.8

157.8

88.859.928.969.05.9

67.95.8

-8.6

16 88.3

63.9

35.028.96.8

452.226.048.3

322.2249.9

72.355.7

III

781.1326.1256.780.613.7

156.8

88.959.928.967.9

5.769.45.4

-6.2

13 67.3

63.2

35.228.0

6.9455.026.449.1

324.3251.073.355.2


14 SURVEY OF CURRENT BUSINESS October 1988Table 3.9.National Defense Purchases of Goods and Services


Table 3.10.National Defense Purchases of Goods and Services inConstant Dollars[Billions of 1982 dollars]

National defensepurchases

Durable goodsMilitary equipment

AircraftMissilesShipsVehiclesElectronic equipmentOther

Other durable goodsNondurable goods

Petroleum productsAmmunitionOther nondurable goods

ServicesCompensation of employees

MilitaryCivilian

Other servicesContractual research and

developmentInstallation support *Weapons support 2Personnel support 3Transportation of materiel ....Travel of personsOther

StructuresMilitary facilitiesOther

1986

277.583.571.132.911.58.54.75.18.4

12.411.14.34.32.5

176.4104.070.233.872.4

28.618.67.8

10.43.43.5

.26.64.12.4

1987

295.389.877.333.413.08.54.85.8

11.812.510.54.23.82.5

187.8108.973.235.778.9

28.522.39.0

11.34.03.807.24.92.4


II

294.889.576.831.313.99.14.95.9

11.612.710.23.83.82.6

188.5108.773.035.779.8

29.122.48.9

11.53.83.8

.26.64.52.2

III

299.893.179.935.412.58.44.45.9

13.413.210.94.34.12.5

188.1109.073.135.979.1

27.622.89.2

12.14.23.8-.67.85.22.5

IV

299.288.475.933.713.38.24.65.6

10.512.411.35.33.62.4

191.9110.073.936.281.9

28.423.49.3

11.94.53.9

.77.65.32.3

1988

I

298.483.872.329.811.78.44.55.9

12.011.510.84.33.82.6

197.3112.775.537.284.6

30.624.79.3

11.74.33.7.3

6.64.22.4

II

298.884.273.329.812.87.94.26.0

12.611.011.44.44.52.4

195.8112.675.737.083.1

30.223.99.2

11.64.23.9.1

7.55.02.4

III

294.180.870.227.311.58.14.16.3

13.010.611.04.34.42.3

195.0112.875.837.082.2

30.423.49.1

11.34.13.9.1

7.24.92.2

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

2. Includes depot maintenance and contractual services for weapons systems, other thanresearch and development.

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

Table 4.1.Foreign Transactions in the National Income and ProductAccounts


Receipts from foreigners ...Exports of goods and services

MerchandiseDurable goodsNondurable goods

ServicesFactor income lOther

Capital grants received by theUnited States (net)

Payments to foreignersImports of goods and services

MerchandiseDurable goodsNondurable goods

ServicesFactor income 1 .Other

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

Interest paid by government toforeigners

Net foreign investment

1986

378.4378.4225.0140.484.6

153.487.565.9

0378.4482.8367.7238.7129.0115.152.662.515.41.4

13.9

22.6-142.4

1987

428.0428.0254.8158.396.4

173.396.177.2

0428.0551.1413.0264.5148.5138.166.671.513.51.3

12.2

24.1-160.6


II

416.8416.8245.1150.694.5

171.793.877.9

0416.8539.0402.3258.0144.3136.765.671.112.61.4

11.2

23.9-158.6

III

440.4440.4264.8163.5101.3175.697.378.3

0440.4565.6421.7265.2156.5143.970.573.412.01.3

10.7

23.9-161.1

IV

459.7459.7276.7175.0101.7183.0105.177.9

0459.7585.4438.0281.8156.2147.474.173.317.61.2

16.4

24.6-167.8

1988I

487.8487.8300.8188.2112.5187.0104.782.3

0487.8599.9441.7287.5154.2158.282.375.812.71.2

11.5

26.6-151.3

II

507.1507.1316.9198.4118.5190.2104.286.1

0507.1597.5439.4286.6152.7158.282.975.311.8

.811.0

26.8129 1

III

526.3526.3328.0205.1122.9198.3112.485.9

0526.3611.2444.6290.4154.2166.689.377.312.61.0

11.6

28.81263

National defensepurchases

Durable goodsMilitary equipment

AircraftMissilesShipsVehiclesElectronic equipmentOther

Other durable goodsNondurable goods

Petroleum productsAmmunition ,Other nondurable goods

ServicesCompensation of employees

MilitaryCivilian

Other servicesContractual research and

developmentInstallation support 1Weapons support 2Personnel support 3Transportation of materiel ...Travel of personsOther

StructuresMilitary facilitiesOther

1986

251.478.164.028.010.97.45.04.88.0

14.215.48.54.62.3

152.388.859.928.963.4

25.315.56.98.53.73.4

.25.63.42.2

1987

264.987.972.530.712.87.35.15.5

11.015.414.78.44.02.3

156.489.360.229.067.2

24.717.97.98.84.23.705.93.92.0


II

264.887.271.828.713.77.85.35.6

10.815.414.68.24.02.4

157.689.160.129.068.5

25.418.17.99.14.13.8

.25.53.61.8

III

269.592.175.933.412.57.24.85.6

12.416.214.68.14.32.3

156.489.360.229.167.1

23.818.18.19.54.43.7

.56.34.22.1

IV

268.288.472.631.913.77.14.95.39.7

15.915.69.53.92.2

158.089.560.329.268.6

24.218.48.09.04.63.8

.56.14.21.9

1988

I

264.684.969.529.012.27.24.75.5

10.915.414.68.34.12.3

159.989.360.129.270.5

25.919.58.08.94.43.6

.25.23.31.9

II

263.685.170.328.613.36.84.55.7

11.414.914.87.84.92.2

157.888.859.928.969.0

25.418.87.98.74.33.8.1

5.94.01.9

III

256.780.666.726.611.36.84.45.9

11.813.913.76.94.72.0

156.888.959.928.967.9

25.418.37.78.44.23.8.1

5.73.91.8

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

2.' Includes depot maintenance and contractual services for weapons systems.3. Includes compensation of foreign personnel, consulting, training, and education.

Table 4.2.Exports and Imports of Goods and Services in ConstantDollars


Exports of goods and servicesMerchandise

Durable goodsNondurable goods

Services ,Factor income 1Other

Imports of goods and servicesMerchandise


ServicesFactor income 1Other

1986

378.4243.7152.691.0

134.775.858.9

515.9412.3241.4170.9103.745.058.7

1987

427.8280.1177.3102.8147.780.367.4

556.7439.0260.2178.8117.754.763.0


II

416.4269.4167.9101.5146.978.868.2

542.3425.3252.5172.8117.054.262.8

III

440.9291.6184.0107.7149.281.068.2

571.6449.5262.2187.3122.257.764.4

IV

459.2304.6198.8105.8154.687.067.6

585.2461.0276.9184.1124.260.363.9

1988I

486.2329.0215.4113.6157.186.370.9

595.1463.1279.1184.1132.066.865.2

II

496.9339.1223.1116.0157.884.573.3

589.5459.1276.3182.8130.466.364.2

III

507.0344.3230.2114.0162.790.272.5

601.9465.6279.5186.2136.370.765.6

1. Line 6 less line 13 equals rest-of-the-world product as shown in table 1.8.

1. Line 7 less line 16 equals rest-of-the-world product as shown in table 1.7.



Table 4.3.Merchandise Exports and Imports by Type of Product andby End-Use Category


Table 4.4.Merchandise Exports and Imports by Type of Product andby End-Use Category in Constant Dollars


Merchandise exportsFoods, feeds, and beveragesIndustrial supplies and

materialsDurable goodsNondurable goods

Capital goods, except autosAutosConsumer goods


OtherDurable goods 1Nondurable goods 1

Merchandise importsFoods, feeds, and beveragesIndustrial supplies and

materials, excludingpetroleumDurable goodsNondurable goods

Petroleum and productsCapital goods, except autosAutosConsumer goods

Durable goods..Nondurable goods

OtherDurable goods 1Nondurable goods 1

Addenda:Exports of agricultural

products 2Exports of nonagricultural

productsImports of nonpetroleum

products

1986

225.023.1

58.418.140.379.324.914.65.88.8

24.612.312.3

367.724.3

62.234.327.834.472.178.179.245.433.817.48.78.7

27.4

197.7

333.3

1987

254.824.6

66.520.945.688.126.318.07.4

10.531.315.715.7

413.024.7

66.635.631.042.984.885.288.749.039.720.210.110.1

29.5

225.3

370.1


II

245.123.5

65.420.145.383.224.917.57.1

10.430.515.315.3

402.324.9

62.833.329.440.382.484.088.848.740.119.29.69.6

28.5

216.6

362.0

III

264.828.1

68.221.546.793.325.418.67.7

10.931.215.615.6

421.724.8

66.235.131.051.087.084.188.148.839.420.510.210.2

33.1

231.7

370.6

IV

276.725.4

71.022.848.196.530.519.38.1

11.134.117.017.0

438.025.1

72.338.633.745.293.288.792.050.641.421.410.710.7

30.5

246.2

392.8

1988

I

300.830.1

77.824.653.3

105.431.721.29.3

11.934.617.317.3

441.726.0

76.741.835.039.896.487.494.251.542.821.110.510.5

36.1

264.7

401.9

II

316.932.8

82.128.054.1

109.232.222.810.112.837.818.918.9

439.423.8

75.340.135.241.1

100.784.592.850.742.121.110.610.6

38.5

278.4

398.3

III

328.036.8

82.028.054.0

114.632.424.411.213.237.818.918.9

444.624.8

76.740.736.039.8

101.985.094.852.042.821.610.810.8

41.5

286.5

404.8

1. Because no data are available to distribute exports and imports of "other" merchandisebetween durable and nondurable goods, they are distributed equally.

2. Includes parts of line 2 and line 5.NOTE.Beginning with 1985, the definitions of the end-use categories have been changed. For

a description of the new definitions, see the technical notes in "U.S. International Transactions,First Quarter 1988," SURVEY OF CURRENT BUSINESS 68 (June 1988): 34-39 and 57.

Ill328.0 Merchandise exports

36.8 Foods, feeds, and beveragesIndustrial supplies and

82.0 materials . .28.0 Durable goods54.0 Nondurable goods

114.6 Capital goods, except autos32.4 Autos24.4 Consumer goods11.2 Durable goods13.2 Nondurable goods37.8 Other18.9 Durable goods l18.9 Nondurable goods l

444.6 Merchandise imports24.8 Foods, feeds and beverages

Industrial supplies andmaterials, excluding

76.7 petroleum40.7 Durable goods36.0 Nondurable goods39.8 Petroleum and products

101.9 Capital goods, except autos85.0 Autos94.8 Consumer goods52.0 Durable goods42.8 Nondurable goods21.6 Other10.8 Durable goods 110.8 Nondurable goods 1

Addenda:Exports of agricultural

41.5 products 2Exports of nonagricultural

286.5 productsImports of nonpetroleum

404.8 products

1986

243.726.3

63.819.744.092.422.314.15.88.3

24.812.412.4

412.323.2

73.640.633.075.382.866.074.543.531.016.98.48.4

30.6

213.0

337.0

1987

280.129.9

69.721.947.8

109.523.216.77.39.5

31.015.515.5

439.023.9

74.239.834.577.999.468.177.143.833.418.39.29.2

34.9

245.2

361.1


II

269.428.9

69.321.348.0

102.422.016.47.19.4

30.515.215.2

425.324.6

71.638.133.472.294.667.177.643.833.817.68.88.8

33.9

235.6

353.1

III

291.634.3

70.422.248.2

116.422.417.37.59.8

30.815.415.4

449.523.8

71.838.233.688.0

104.067.276.243.532.718.59.29.2

39.7

252.0

361.5

IV

304.630.5

72.023.248.9

124.526.817.67.89.8

33.216.616.6

461.023.7

77.041.135.981.4

112.269.977.844.133.718.99.59.5

35.2

269.4

379.6

1988I

329.034.1

76.924.352.6

138.027.919.18.8

10.333.016.516.5

463.123.8

77.142.035.182.2

116.467.777.643.833.818.19.19.1

39.3

289.7

380.9

II

339.134.9

79.427.152.3

140.628.320.59.4

11.135.417.717.7

459.121.7

72.838.834.085.4

121.564.875.042.232.81

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