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Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FEBRUARY 1982 / VOLUME 62 NUMBER
SURVEY OF CURRENT BUSINESS
CONTENTS
THE BUSINESS SITUATION 1
Summary of BEA Staff Papers 2
National Income and Product Accounts Tables 3
Reconciliation and Other Special Tables 14
Sources of Growth in SelectedState and Local Government Tax Receipts 15
Recent Developments in Mortgage Markets 19
Employment and Employee Compensation ofU.S. Multinational Companies in 1977 37
Pollution Abatement and Control Expenditures, 1972-80 5O
Constant-Dollar Inventories, Sales, andInventory-Sales Ratios for Manufacturing and Trade 59
CURRENT BUSINESS STATISTICS
General SI
Industry S22
Footnotes SS7
Subject Index (Inside Back Cover)
U. S. Department of CommerceMalcolm Baldrige / SecretaryRobert G. Dederick / Assistant Secretary
for Economic Affairs
Bureau of Economic AnalysisGeorge Jaszi / DirectorAllan H. Young / Deputy DirectorCarol S. Carson / Editor-in-Chief,
Survey of Current BusinessManuscript Editor: Dannelet A. GrosvenorManaging Editor: Patti A. Trujillo
Staff Contributors to This Issue: Leo M. Bernstein, JamesC. Byrnes, Robert T. Clueas, Douglas R. Fox, Mary W.Hook, Daniel J. Larkins, David J. Levin, John Mon, Gary L.Rutledge, Susan L. Trevathan, Teresa L. Weadock, Obie G.Whichard.
SURVEY OF CURRENT BUSINESS. Published monthly by the Bureauof Economic Analysis of the U.S. Department of Commerce, Editori-al correspondence should be addressed to the Editor-in-Chief,Survey of Current Business, Bureau of Economic Analysis, U.S.Department of Commerce, Washington, D.C. 20230.
First-Class mail.Domestic only: Annual subscription $50.00.Single copy: $5.50.
Second-class mail.Annual subscription: $30.00 domestic;$37.50 foreign. Single copy: $4.25 domestic; $5.35 foreign.
Foreign air mail rates available upon request.Mail subscription orders and address changes to the Superintend-
ent of Documents, U.S. Government Printing Office, Washington,D.C. 20402. Make checks payable to Superintendent of Documents.
Second-class postage paid at Washington, D.C. and at additionalmailing offices.
The Secretary of Commerce has determined that the publication of this periodical is necessary in the transaction of the public business required by law of this Department. Use of funds forprinting this periodical has been approved by the Director of the Office of Management and Budget through September 1,1983.
U.S. DEPARTMENT OF COMMERCE DISTRICT OFFICES
\L. Birmingham 35205W8S. 20th St. 254-1331AK, Anchorage 99513701 C St. 271-5041AZ, Phoenix 85073201 N. Central Ave, 261-3285AR, I,ink Rock 72201320 W. Capitol Ave, 378-5794CA, Los Angeles 9004911777 San Vicente Blvd. 824-7591CA, San Francisco 94102450 Golden Gate Ave. 556-5860CO, Denver 80202721 - 19th St. 837-3246CT, Hartford 06103450 Main St. 244-3530FL, Miami 3313O25 W. Flagler St. 350-5267GA, Atlanta 3O3091365 Pearhtree St., N.E. 881-7000
GA, Savannah 31412125-29 Bull St. 944-4202HI, Honolulu 96850300 Ala Moana Blvd. 546-8694IL, Chicago 6060355 E. Monroe St. 353-4450IN. Indianapolis 4620446 E.Ohio St. 269-6214IA, Des Moines 50309210 Walnut St. 284-4222KY, Louisville 40202U.S. P.O. & Courthouse Bldg. 582-5066LA, New Orleans 70130432 International Trade Mart 962-3560MD, Baltimore 21202415 U.S. Customhouse 962-3560M A, Boston O2116441 Stuart St. 223-2312Mi, Detroit 48226231 W. Layfayette 226-3650
MN, Minneapolis 55401110 S. 4th St. 725-2133
MS, Jackson 39201200 E. Paseagoula 960-4388
MO, Saint Louis 63105120 S. Central Ave. 425-3302
MO, Kansas City 64106601 E. 12th St. 374-3142
NE, Omaha 68102300 S. 19th St. 221-3664
NV, Reno 89503777 W. 2nd St. 784-5203
NJ, Newark O71024th Floor, Gateway Bldg 645-6214
IN M, Albuquerque 87102505 Marquette Ave., N.W. 766-2386
NY, Buffalo 14202111 W. Huron St. 8-16-4191
NY, New York 1027826 Federal Plaza 264-0634
NC, Greensboro 27402203 Federal Bldg. 378-5345
OH, Cincinatti 45202550 Main St. 684-2944OH, Cleveland 44114666 Eudid Ave. 522-4750
OR, Portland 972041220 S. W. 3rd Ave. 221-3001
PA, Philadelphia 19106600 Arch St. 597-2866
PA, Pittsburgh 152221000 Liberty Ave. 644-2850
PR, San Juan 00918Rm. 659, Federal Bldg. 753-4555
SC, Columbia 292011835 Assembly St. 765-5345
TN, Memphis 381O3147 Jefferson Ave. 521-3213TX, Dallas 752421100 Commerce St. 767-0542
TX, Houston 77O02515 Rusk St. 226-4231UT, Salt Lake City 84101350 S. Main St. 524-5116
VA, Richmond 23240400 N. 8th St. 771-2246
W A, Seattle 98109Rm. 706, Lake Union Bldg. 442-5616
WV, Charleston 253015000 Ouarrier St. 343-6181
WI, Milwaukee 532O2517 E. Wisconsin Ave. 291-3473
WY, Cheyenne 820012120 Capitol Ave. 778-2220
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
the BUSINESS SITUATION
DEVISED (45-day) estimates showthat real GNP declined 4Vfe percent atan annual rate in the fourth quarterof 1981, compared with the 5-percentdecline shown by the preliminary (15-day) estimates (table 1). The largestupward revisions were in the produc-ers' durable equipment component(due to computers and aircraft) ofnonresidential fixed investment, andthe Federal purchases component (de-fense and Commodity Credit Corpora-tion) of government purchases. Per-sonal consumption expenditures (non-durable goods) and change in businessinventories (nondurable manufactur-ing and retail trade) were reviseddownward. The revisions leave the in-crease in GNP prices as measured bythe fixed-weighted price index at anannual rate of 8l/2 percent.
The revisions do not alter the pic-ture of a decline widely spread acrossGNP components that was describedin the January "Business Situation/'However, less of the decline than wasindicated there was in final sales. Ac-cording to the revised estimates,about one-half of the decline in realGNP was traceable to final sales, andone-half to a lower rate of inventoryaccumulation in the fourth quarterthan in the third.
Business inventories in the fourthquarter were lower than shown in thepreliminary estimates; decumulationin December was larger than project-ed. For the quarter, the ratio of busi-ness inventories to final sales, whichmoved up steadily throughout 1981,was 3.31. The inventory-sales ratio formanufacturing and tradeat 1.76was up to its first-quarter 1975 high.
(See ' 'Constant-Dollar Inventories,Sales, and Inventory-Sales Ratios forManufacturing and Trade/' in thisissue.) In manufacturing, inventorieschanged little in the fourth quarter,but sales dropped. Inventory-salesratios were up for all categories of du-
rables and nondurables other thanfood. There was no evidence of a largeinventory buildup in defense goods, orin finished manufactured goods. Intrade, the inventory-sales ratios ofwholesale durables and retail nondu-rables were at all-time highs.
Table 1.Revisions in Selected Component Series of the NIPA's, Fourth Quarter of 1981
GNP
Personal consumption expendituresNonresidential fixed investmentResidential investment !Change in business inventories ...Net exportsGovernment purchases.. ..
National income
Compensation of employeesCorporate profits with inventory valuation and capital con-
sumption adjustmentsOther
Personal income
GNP
Personal consumption expenditures.Nonresidential fixed investmentResidential investmentChange in business inventoriesNet exportsGovernment purchases
GNP implicit price deflatorGNP fixed-weighted price indexGNP chain price index
Seasonally adjusted at annual rates
15-dayestimate
45-dayestimate Revision
Billions of current dollars
2984.9
1909.5332.693.417.616.0
615.7
1821.7
396.8
2484.4
2995.3
1908.4337.593.812.620.8
622.2
1820.9
397.7
2485.9
10.4
-1.14.9
.4-5.0
4.86.5
-.8
.9
1.5Billions of constant (1972) dollars
1495.6
958.3159.239.58.5
36.7293.4
1497.6
957.2161.739.3
6.237.5
295.6
2.0
-1.12.5-.2
-2.3.8
2.2
Index numbers, 1972=100 l
199.58206.7
200.01206.8
.43.1
Percent change frompreceding quarter at
annual rates
15-dayestimate
2.7
5.6-3.0
-25.2
19.5
7.1
5.8
7.2
-5.2
-1.8-10.9-26.9
7.1
8.48.38.4
45-dayestimate
4.1
5.32.8
-24.0
24.6
6.9
6.8
7.4
-4.7
-2.3-5.1
-28.1
10.5
9.38.58.5
1. Not at annual rates.NOTE.For the fourth quarter of 1981, the following revised or additional major source data became available: For personal
consumption expenditures, revised retail sales for November and December, and sales and inventories of used cars of franchisedautomobile dealers for November; for nonresidential fixed investment, manufacturers' shipments of equipment for November(revised) and December, construction put in place for November (revised) and December, and a partial tabulation of businessexpenditures for plant and equipment for the quarter; for residential investment, construction put in place for November (revised)and December; for change in business inventories, book values for manufacturing and trade for November (revised) and December;for net exports of goods and services, merchandise trade for November (revised) and December, and revised net investment incomeand other services receipts for the quarter; for government purchases of goods and services, Federal unified budget outlays forDecember, and State and local construction put in place for November (revised) and December; for wages and salaries, revisedemployment, average hourly earnings, and average weekly hours for November and December; for net interest, revised netinterest received from abroad for the quarter; for GNP prices, the Consumer Price Index for December, unit value indexes forexports and imports for December, and residential housing prices for the quarter.
1
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SURVEY OF CURRENT BUSINESS February 1982
Summary of BEA Staff Papers
BOTH of these papers complementthe BEA 1972 "benchmark" input-output study. The first, No. 37 in theBEA staff paper series, presents sum-mary (85 industry/commodity) tablesthat are updates of the 1972 study. Ofnecessity, they are based on informa-tion that is much less adequate thanthat used in 1972, for which the eco-nomic censuses are available. In addi-tion to presenting the tables, thepaper describes the tables, explainstheir derivation, and examines thechanges in output requirementsduring the 1972-75 period that are re-vealed by the updated estimates.
Summary Input-Output Tablesof the U.S. Economy: 1973,
1974, and 1975
By Paula C. Young and Shirley F. LoftusEmployment and EmployeeCompensation in the 1972
Input-Output Study
By Jane-Ring F. Crane
The second paper, No. 38 in theseries, presents employment and em-ployment-related data for 1972 compa-rable to the 85- and 496-industry levelof detail. Because the data are con-sistent with the definitions and con-ventions used in the 1972 input-output tables, they can be used withthose tables to calculate, by industry,an estimate of the impact of a stipu-lated change in final demand upontotal employment and compensation,upon hours, and upon wages of pro-duction workers.
Both papers may be ordered fromthe National Technical InformationService, 5285 Port Royal Road,Springfield, VA 22161. The accessionnumber for Summary Input-OutputTables of the U.S. Economy: 1973,1974, and 1975 is PB 82 142-399; en-close $10.50 for a paper copy and$4.00 > for microfiche. The accessionnumber for Employment and Employ-ee Compensation in the 1972 Input-Output Study is PB 82 142-415; en-close $6.00 for a paper copy and $4.00for microfiche.
The BEA Long-TermEconometric Model
By Henry Townsend
THIS paper describes an econometricmodel developed at BEA as an aid forthe analysis of long-term develop-ments in the U.S. economy. Themodel contains 254 equations, whichestimate components of GNP in cur-rent and constant dollars, nationaland personal income by type, govern-ment receipts and expenditures, im-plicit price deflators, detailed laborforce participation rates and unem-ployment rates, various financialrates and flows, and other macroecon-
omic variables. The model was esti-mated with annual data from 1947 to1978, using national income and prod-uct accounts estimates available as ofJuly 1980.
Most of the paper is devoted to de-scribing the equations in the model interms of their variables and of theirlong-term properties and underlyingtheory. An appendix lists the equa-tions, and shows the results of statis-tical tests, periods of fit, and specifica-tions of the error terms. Also included
are chapters on error statistics ofwithin-sample simulations and multi-pliers for several fiscal policy varia-bles.
This paper, number 36 in the BEAStaff Paper series, may be orderedfrom the National Technical Informa-tion Service, 5285 Port Royal Road,Springfield, VA 22161. The accessionnumber is PB 82 142-407; enclose$10.50 for a paper copy, $4.00 for mi-crofiche.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
February 1982 SURVEY OF CURRENT BUSINESS
National Income and Product Accounts Tables
The tables that follow are presented in eight groups, and the table numbers reflect these groups. The same numbers are used in otherpublications presenting national income and product account estimates. The groups are:
1. National product and income2. Personal income and outlays3. Government receipts and expenditures4. Foreign transactions
The abbreviations used in the tables are:
5. Saving and investment6. Product and income by industry7. Implicit price deflators and price indexes8. Supplementary table: Percent change from preceding period for
selected itemsCCAdjIVANIPA's
Capital consumption adjustmentInventory valuation adjustmentNational income and product accountsPreliminaryRevised
The NIPA estimates for 1929-76 are in The National Income and Product Accounts of the United States, 1929-76: Statistical Tables (StockNo. 003-010-00101-1, price $10.00). Estimates for 1976-79 are in National Income and Product Accounts, 1976-79 (Stock No. 003-010-72188-0,price $3.75). Additional estimates for 1980 are in the July 1981 SURVEY. These publications are available from the Superintendent of Documentsand Commerce Department District Offices; see addresses inside front cover.
Table 1.1-1.2.Gross National Product in Current and Constant Dollars
Gross national product
Personal consumption expenditures
Durable goodsNondurable goodsServices
Gross private domestic investment
Fixed investmentNonresidential
StructuresProducers' durable equipment
ResidentialNonfarm structuresFarm structures.Producers' durable equipment
Change in business inventoriesNonfarmFarm .
Net exports of goods and services
ExportsImports
Government purchases of goods and services
FederalNational defenseNondefense .. ..
State and local
Billions of dollars
1980
2,626.1
1,672.8
211.9675.7785.2
395.3
401.2296.0108.8187.1105.3100.3
2.03.0
-5.9-4.7-1.2
23.3
339.8316.5
534.7
198.9131.7
67.2335.8
1981 r
2,924.8
1,857.8
232.1743.0882.7
450.7
433.7328.3125.4202.9105.4
99.92.33.2
17.014.62.3
25.0
365.6340.6
591.3
230.3154.475.9
361.0
Seasonally adjusted at annual rates1980
III
2,637.3
1,682.2
208.8674.2799.2
377.1
393.2294.0107.3186.8
99.294.5
1.73.0
-16.0-12.3-3.7
44.5
342.4297.9
533.5
194.9131.463.5
338.6
IV
2,730.6
1,751.0
223.3703.5824.2
397.7
415.1302.1111.5190.7113.0107.6
2.23.1
-17.4-14.0-3.4
23.3
346.1322.7
558.6
212.0141.670.4
346.6
1981
I
2,853.0
1,810.1
238.3726.0845.8
437.1
432.7315.9117.2198.7116.7111.4
2.23.24.56.8
-2.4
29.2
367.4338.2
576.5
221.6145.276.4
354.9
II
2,885.8
1,829.1
227.3735.3866.5
458.6
435.3324.6123.1201.5110.7105.4
2.13.2
23.321.5
1.8
20.8
368.2347.5
577.4
219.5148.271.3
357.9
III
2,965.0
1,883.9
236.2751.3896.4
463.0
435.6335.1128.3206.8100.5
94.92.33.3
27.523.14.4
29.3
368.0338.7
588.9
226.4154.172.2
362.5
IV r
2,995.3
1,908.4
226.8759.3922.2
443.9
431.3337.5133.0204.5
93.888.12.53.3
12.67.15.5
20.8
35S.&338.2
622.2
253.6170.183.5
368.6
Billions of 1972 dollars
1980
1,480.7
935.1
135.8358.4440.9
203.6
206.6158.4
48.4110.048.145.2
.92.0
-2.9-2.4-.5
52.0
161.1109.1
290.0
108.170.937.2
181.9
1981 r
1,510.1
958.8
139.4367.1452.3
215.0
207.4162.2
50.9111.345.242.2
1.02.07.66.41.2
44.5
159.6115.1
291.8
111.674.037.6
180.2
Seasonally adjusted at annual rates1980
III
1,471.9
930.8
132.6354.9443.3
195.3
200.2155.546.8
108.844.741.9
.72.0
-5.0-3.1-1.8
57.6
160.5102.8
288.2
106.970.935.9
181.3
IV
1,485.6
946.8
139.1360.4447.3
200.5
207.6157.0
47.8109.3
50.647.5
1.02.0
-7.2-5.6-1.5
48.5
157.4108.9
289.8
107.471.935.4
182.4
1981
I
1,516.4
960.2
146.8364.5448.9
211.6
213.1162.049.6
112.451.048.0
.92.1
-1.4-.3
-1.1
50.9
162.5111.6
293.6
111.272.139.0
182.5
II
1,510.4
955.1
137.4367.0450.7
219.7
208.9161.150.4
110.747.844.8
.92.0
10.89.9
.9
46.2
161.5115.4
289.5
108.772.636.1
180.7
III
1,515.8
962.8
140.3368.8453.7
221.5
206.5163.951.5
112.442.739.7
1.02.0
14.912.82.2
43.2
160.1116.9
288.3
109.674.035.6
178.8
IV r
1,497.6
957.2
133.2368.2455.8
207.2
201.0161.7
52.0109.739.336.3
1.02.06.23.42.8
37.5
154.2116.7
295.6
116.977.239.7
178.8
Table 1.3-1.4.Gross National Product by Major Type of Product in Current and Constant Dollars
Gross national product
Final salesChange in business inventories
Goods.. ,. .
Final salesChange in business inventories
Durable goodsFinal salesChange in business inventories
Nondurable goodsFinal salesChange in business inventories
ServicesStructures ..
Addenda:Gross domestic purchases JFinal sales to domestic purchasers J
2,626.1
2,632.0-59
1,130.4
1,136.3-59
4586462.6
4 0671.96737-1.8
1 2296266.0
2,602.82,608.7
2,924 8
2,907.8170
1,272.5
1,255.6170
507 4499.5
7 9765.1756 1
9.1
1 371 1281.1
2,899.82,882.8
26373
2,653.4160
1,129.4
1,145.4-160
4565464.9
84672.96805-7.7
1 2490258.9
2,592.82,608.8
27306
2,748.0174
1,169.0
1,186.317 4
4767476.0
7692.27103
-18.1
1 2853276.4
2,707.32,724.6
2 853 0
2,848.545
1,247.5
1,243.14 5
501 4505.5
4 2746.1737 5
8.6
1 317 1288.4
2,823.82,819.3
2 885 8
2,862.5233
1,257.0
1,233.7233
5169498.3
185740.17353
4.8
1 3447284.1
2,865.12,841.8
29650
2,937.6275
1,298.3
1,270.8275
5252506.6
186773.07642
8.9
1,390 5276.3
2,935.82,908.3
29953
2,982.6126
1,287.4
1,274.7126
4862487.5
1 3801.27872
14.0
1,432.2275.7
2,974.52,961.9
1 480 7
1,483.629
665.2
668.129
2794281.3
1 9385.73868-1.1
6957119.8
1,428.71,431.7
1 510 1
1,502.476
6852
677.67 6
2824279.1
33402.83985
4.4
7076117.2
1,465 61,458.0
1 471 9
1,476.950
657 5
662.450
2746278.4
38382.93840-1.1
699 91145
1,414 31,419.2
1 485 6
1,492.772
6629
670.17 2
281 8281.5
3381.13886-7.5
701 7121 0
1 437 11,444.2
1 516 4
1,517.81 4
688 9
690.314
2893292.5
3 1399.63979
1.7
703 61239
1 46551,466.9
1 510 4
1,499.610 8
6863
675.5108
2886279.7
89397.73958
1.9
704 7119 4
1 46421,453.5
1 515 8
1,500.914 9
691 9
677.014 9
2870279.2
78404.9397 8
7.1
709 9114 0
1 47261,457.7
1 497 6
1,491.46 2
673 7
667.56 2
264 6265.1
5409.1402 4
6.7
712 2111 7
146011,453.9
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SURVEY OF CURRENT BUSINESS February 1982
Table 1.5-1.6.Gross National Product by Sector in Current and Constant Dollars
Gross national product
Gross domestic product . .Business
NbnfarmNonfarm less housingHousing
FarmStatistical discrepancy
Households and institutionsPrivate householdsNonprofit institutions
GovernmentFederalState and local
Rest of the worldAddendum:
Gross domestic business product less housing
Billions of dollars
1980
2,626.1
2,576.52,221.22,153.71,940.9
212.868.1-.785.96.7
79.2269.381.9
187.449.7
2,008.4
1981 r
2,924.8
2,870.82,479.82,408.32,168.1
240.272.3-.897.76.9
90.7293.390.0
203.354.0
2,239.7
Seasonally adjusted at annual rates1980
III
2,637.3
2,586.92,230.02,159.11,943.1
216.067.93.0
86.96.7
80.2269.980.7
189.350.5
2,014.0
IV
2,730.6
2,682.02,311.42,248.62,025.3
223.369.4
-6.690.46.9
83.5280.387.1
193.348.6
2,088.0
1981
I
2,853.0
2,800.72,420.82,350.12,120.2
229.967.33.4
93.97.0
86.9285.987.9
198.052.3
2,191.0
II
2,885.8
2,835.52,449.22,383.72,147.3
236.472.469
96.46.9
89.5289.988.2
201.650.4
2,212.8
III
2,965.0
2,909.42,517.62,442.22,198.7
243.575.2
.298.46.9
91.5293.588.5
205.055.6
2,274.1
IV r
2,995.3
2,937.62,531.72,457.22,206.2
251.074.3
.2102.0
6.995.1
304.095.3
208.757.6
2,280.7
Billions of 1972 dollars
1980
1,480.7
1,452.41,251.81,216.81,084.5
132.335.3-.445.43.5
41.9155.249.2
106.028.3
1,119.5
1981 r
1,510.1
1,482.01,280.11,242.71,105.4
137.437.8-.447.03.3
43.7154.949.0
105.928.1
1,142.7
Seasonally adjusted at annual rates1980
III
1,471.9
1,443.41,242.31,207.61,074.6
133.033.1
1.745.63.4
42.1155.549.4
106.128.5
1,109.4
IV
1,485.6
1.458.91,257.51,227.91,093.7
134.233.2
-3.646.13.4
42.7155.348.9
106.326.7
1,123.3
1981
I
1,516.4
1,488.41,286.41,250.91,115.4
135.533.61.8
46.73.4
43.2155.349.0
106.428.0
1,150.8
II
1,510.4
1,483.81,281.81,248.91,112.1
136.836.5
-3.646.93.3
43.5155.249.0
106.226.6
1,145.0
III
1,515.8
1,487.11,285.71,246.21,108.2
137.939.4
.146.83.3
43.6154.649.0
105.628.7
1,147.8
IV r
1,497.6
1,468.51,266.51,225.01,085.8
139.241.5
.147.53.2
44.3154.549.0
105.429.1
1,127.4
Table 1.7.Relation of Gross National Product, Net National Product,National Income, and Personal Income
Gross national product
Less:Capital consumption al-
lowances with CCAdj...Capital consumption al-
lowancesLeSS- CCAdj
Equals: Net national prod-uct
Less:Indirect business tax and
nontax liabilityBusiness transfer pay-
mentsStatistical discrepancy
Plus: Subsidies less currentsurplus of governmententerprises
Equals: National income
Less:Corporate profits with
IVA and CCAdjNet interestContributions for social
insuranceWage accruals less dis-
bursementsPlus:
Government transfer pay-ments to persons
Personal interest income....Personal dividend income..Business transfer pay-
ments
Equals: Personal income
Billions of dollars
1980
2,626.1
287.3
224 163 1
2,338.9
212.3
10.5_ 7
4.62,121.4
18271798
203.7
o
2838256.3
54.4
1052,160.2
1981 r
2,924.8
321.7
2570647
2,603.1
251.1
11.6- 8
5.12,346.3
191 52150
238.9
0
321 6308.661.3
11 6
2,404.0
Seasonally adjusted at annual rates1980
III
2,637.3
291.8
2269649
2,345.5
215.8
10.630
6.32,122.4
17791853
204.15
300 1261.855.1
1062,182.1
IV
2,730.6
298.9
2337652
2,431.7
228.0
10.9-66
5.42,204.8
183.31933
212.35
303 1269.756.1
1092,256.2
1981
I
2,853.0
306.5
2432633
2,546.4
245.5
11.23.4
4.7
2,291.1
203.02008
233.7
o
3084288.758.0
112
2,319.8
II
2,885.8
316.7
2519649
2,569.1
249.4
11.5-6.9
5.72,320.9
190.32110
236.3
0
3127300.9
60.2
11 5
2,368.5
III
2,965.0
326.5
261.7648
2,638.5
254.0
11.8.2
5.12,377.6
195.72202
240.6
2
3304315.763.0
11 8
2,441.7
IV r
2,995.3
336.9
271.1-657
2,658.4
255.4
12.1
4.8
2280
244.8
1
3349329.064.1
12 1
2,485.9
Table 1.8.Relation of Gross National Product, Net National Product,and National Income in Constant Dollars
[Billions of 1972 dollars]
Gross national productLess: Capital consumption
allowances with CCAdjEquals: Net national prod-
uctLess: Indirect business tax
and nontax liability plusbusiness transfer pay-ments less subsidies pluscurrent surplus of govern-ment enterprisesStatistical discrepancy
Equals: National income
1,480.7
147.5
1,333.2
1490-.4
1,184.6
1,510.1
153.4
1,356.7
153.9-.4
1,203.1
1,471.9
147.9
1,324.0
149.21.7
1,173.1
1,485.6
149.5
1,336.1
151.9-3.6
1,187.8
1,516.4
151.2
1,365.2
153.21.8
1,210.3
1,510.4
152.4
1,358.0
152.9-3.6
1,208.7
1,515.8
154.2
1,361.6
154.6.1
1,206.9
1,497.6
155.8
1,341.8
155.1
"Table 1.11.National Income by Type of Income
National income
Compensation of employ-ees
Wages and salariesGovernment and gov-
ernment enterprises ....Other
Supplements to wagesand salaries
Employer contribu-tions for social in-surance
Other labor income
Proprietors' income withIVA and CCAdj
FarmProprietors' income
with IVACCAdj
NonfarmProprietors' incomeIVACCAdj
Rental income of personswith CCAdj
Rental income of per-sons
CCAdjCorporate profits with IVA
and CCAdjCorporate profits with
Profits before taxProfits tax liability ..Profits after tax
DividendsUndistributed
profits
IVA
CCAdjNet interest
Addenda:Corporate profits after
tax with IVA andCCAdj
Dividends ..Undistributed profits
with IVA and CCAdj
Billions of dollars
1980
2,121.4
1,596.5
1,343.6
253.61,090.0
252.9
115.8137.1
130.6
23.4
30.3-6.9
107.2112.7-3.7-1.9
31.8
64.9-33.1
182.7
199.8
245.582.3
163.256.0
107.2
-45.7
-17.2
179.8
100.356.0
44.3
1981 r
2,346.3
1,771.5
1,482.6
273.91,208.7
288.8
134.7154.2
134.6
22.3
30.0-7.7
112.4116.1-1.6-2.1
33.6
70.0-36.4
191.5
205.4
232.977.6
155.363.1
92.1
-27.5
-13.9
215.0
113.963.1
50.7
Seasonally adjusted at annual rates1980
III
2,122.4
1,597.4
1,342.3
253.91,088.4
255.0
116.0139.1
129.7
22.1
29.0-6.9
107.6113.1-3.5-2.0
32.0
65.9-33.9
177.9
195.9
237.678.5
159.156.7
102.4
-41.7
-17.9
185.3
99.556.7
42.8
IV
2,204.8
1,661.8
1,397.3
263.31,134.0
264.5
121.0143.5
134.0
22.5
29.6-7.2
111.6117.5-4.0-2.0
32.4
66.4-33.9
183.3
201.0
249.585.2
164.357.7
106.6
-48.4
-17.8
193.3
98.157.7
40.4
1981
I
2,291.1
1,722.4
1,442.9
267.11,175.7
279.5
131.5148.0
132.1
18.9
26.1-7.2
113.2117.4-2.5-1.7
32.7
68.2-35.5
203.0
217.7
257.087.7
169.259.6
109.6
-39.2
-14.7
200.8
115.359.6
55.7
II
2,320.9
1,752.0
1,467.0
270.51,196.4
285.1
133.2151.8
134.1
21.7
29.3-7.6
112.5115.7-1.2-2.0
33.3
69.3-35.9
190.3
205.1
229.076.4
152.762.0
90.6
-24.0
-14.7
211.0
114.062.0
52.0
III
2,377.6
1,790.7
1,498.7
274.71,224.0
292.0
135.6156.3
137.1
24.7
32.6-7.9
112.4115.9-1.4-2.2
33.9
70.5-36.6
195.7
209.1
234.478.1
156.364.8
91.5
-25.3
-13.4
220.2
117.664.8
52.8
IV r
1,820.9
1,522.0
283.21,238.8
298.9
138.4160.5
135.2
23.8
31.9-8.2
111.5115.4-1.5-2.4
34.5
71.9-37.4
66.0
-21.5
-12.8
228.0
66.0
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
February 1982 SURVEY OF CURRENT BUSINESS
Table 1.13.Gross Domestic Product of Corporate Business in Current Dollars and Gross Domestic Product of Nonfinancial Corporate Businessin Current and Constant Dollars
Gross domestic prod-uct of corporatebusiness
Capital consumption allow-ances with CCAdj
Net domestic productIndirect business tax and
nontax liability plusbusiness transfer pay-ments less subsidies
Domestic incomeCompensation of em-
ployeesWages and salariesSupplements to
wages and salaries...Corporate profits with
IVA and CCAdjProfits before tax
Profits tax liability ..Profits after tax
DividendsUndistributed
profitsIVACCAdj
Net interestGross domestic
product of finan-cial corporatebusiness
Gross domesticproduct of non-financial corpo-rate business
Capital consumption allow-ances with CCAdj
Billions of dollars
1980
1,616.5
175.4
1,441.1
159.3
1,281.8
1,103.1917.9
185.2
151.5
214.482.3
132.037.4
94.6-45.7-17.2
27.2
81.3
1,535.2
165.9
1981 r
1,814.6
197.7
1,616.8
191.5
1,425.4
1,226.61,015.9
210.7
167.5
208.977.6
131.247.3
84.0-27.5-13.9
31.3
81.6
1,733.0
186.6
Seasonally adjusted at annual rates1980
III
1,617.5
178.4
1,439.0
162.4
1,276.6
1,101.7915.2
186.4
147.0
206.778.5
128.237.9
90.3-41.7-17.9
27.9
79.7
1,537.7
168.6
IV
1,688.0
183.2
1,504.8
172.5
1,332.4
1,147.8954.6
193.2
155.6
221.885.2
136.639.5
97.1-48.4-17.8
29.0
83.3
1,604.7
173.0
1981
I
1,774.8
187.5
1,587.3
187.2
1,400.1
1,193.3989.1
204.1
177.6
231.587.7
143.843.7
100.1-39.2-14.7
29.3
84.7
1,690.1
177.1
II
1,797.1
194.6
1,602.5
190.2
1,412.2
1,214.01,006.0
208.0
167.6
206.276.4
129.945.5
84.3-24.0-14.7
30.7
80.8
1,716.3
183.7
III
1,840.6
201.1
1,639.5
194.0
1,445.5
1,242.51,029.4
213.1
171.1
209.878.1
131.849.1
82.7-25.3-13.4
31.9
80.3
1,760.3
189.7
IV r
207.7
194.5
1,256.61,039.1
217.4
50.8
-21.5-12.8
33.5
195.9
Indirect business tax andnontax liability plusbusiness transfer pay-ments less subsidies
Domestic incomeCompensation of em-
ployeesWages and salariesSupplements to
wages and salaries...Corporate profits with
IVA and CCAdjProfits before tax
Profits tax liability ..Profits after tax
DividendsUndistributed
profitsIVACCAdj
Net interest
Gross domestic prod-uct of nonfinancialcorporate business...
Capital consumption allow-ances with CCAdj
Indirect business tax andnontax liability plusbusiness transfer pay-ments less subsidies
Domestic income
Billions of dollars
1980
1,369.3
152.51,216.9
1,037.2864.2
172.9
123.6
183.863.1
120.640.4
80.3-45.7-14.4
56.1
1981 r
1,546.5
183.31,363.2
1,152.1955.5
196.6
146.6
184.659.2
125.550.6
74.9-27.5-10.5
64.4
Seasonally adjusted at annual rates1980
III
1,369.1
155.41,213.6
1,034.8860.9
173.9
121.2
177.960.3
117.640.8
76.8-41.7-15.0
57.6
IV
1,431.7
165.11,266.6
1,078.5898.2
180.4
128.2
191.365.9
125.442.7
82.7-48.4-14.7
59.9
1981
I
1,513.1
179.21,333.9
1,121.3930.7
190.5
152.1
202.968.1
134.846.9
87.9-39.2-11.6
60.5
II
1,532.6
182.11,350.5
1,140.6946.5
194.1
146.5
181.957.8
124.148.8
75.4-24.0-11.4
63.4
III
1,570.6
185.71,384.9
1,167.2968.3
198.9
152.0
187.259.5
127.652.5
75.2-25.3-9.965.8
IVr
186.1
1,179.3976.6
202.7
54.2
"-2l'.5-9.168.2
Billions of 1972 dollars
867.2
88.1
779.0
95.4683.6
896.7
91.8
804.9
97.3707.6
860.4
88.5
771.9
95.3676.5
876.9
89.4
787.5
97.2690.3
901.0
90.4
810.6
97.5713.1
901.2
91.2
810.0
96.7713.3
901.1
92.3
808.8
97.7711.1
93.2
97.4
Table 1.14-1.15.Auto Output in Current and Constant Dollars
Auto output
Final salesPersonal consumption expenditures
New autosNet purchases of used autos
Producers' durable equipmentNew autosNet purchases of used autos
Net exportsExportsImports
Government purchasesChange in business inventories
NewUsed . .
Addenda:Domestic output of new autos *Sales of imported new autos 2
Billions of dollars
1980
60.2
62.261.846.215.612.421.2
-8.8-12.9
4.016.8
.8-1.9-1.3-.6
48.821.7
1981 r
69.3
69.568.249.418.714.424.4
-10.0-13.9
3.917.8
.8-.1
.0-.2
54.524.7
Seasonally adjusted at annual rates1980
III
54.3
57.858.744.314.413.321.9
-8.7-15.1
3.418.4
.8-3.5-3.8
.4
45.321.2
IV
68.8
65.566.148.817.312.522.4
-9.9-13.9
3.917.8
.83.23.5-.3
55.423.2
1981
I
68.1
77.975.657.418.213.724.7
-11.0-12.2
4.116.3
.8-9.8
-10.81.0
52.226.3
II
73.6
62.763.344.319.012.922.3
-9.4-14.2
4.018.2
.710.912.5
-1.6
59.123.5
III
76.8
75.270.251.618.617.228.8
-11.6-13.1
4.617.7
.91.6
-.72.3
61.624.4
IV
58.9
62.163.544.419.113.721.9
-8.2-15.9
2.918.8
.8-3.2-.8
-2.4
45.224.8
Billions of 1972 dollars
1980
38.6
39.936.528.67.88.5
13.2-4.7-5.5
2.48.0
.5-1.3-.9-.3
30.213.5
1981 r
41.6
41.536.629.17.59.9
14.3-4.4-5.4
2.37.7
.5
.1
.1-.1
31.914.5
Seasonally adjusted at annual rates1980
III
34.6
36.834.326.97.48.6
13.4-4.8-6.6
1.88.4
.5-2.2-2.4
.2
27.312.9
IV
42.8
40.937.529.77.88.9
13.6-4.7-6.0
2.48.3
.51.92.1-.1
33.714.1
1981
I
42.8
48.542.835.07.89.9
15.0-5.0-4.7
2.57.2.5
-5.7-6.2
.4
31.816.0
II
44.3
37.834.226.18.18.8
13.0-4.3-5.6
2.48.0
.46.67.3-.7
34.813.8
III
44.8
44.137.029.7
7.311.616.5
-4.9-5.0
2.67.7.5.7
-.21.0
35.414.0
IV r
34.5
35.832.525.47.09.3
12.5-3.2-6.4
1.68.0
.4-1.2-.3-.9
25.814.2
Table 1.16-1.17.-Truck Output in Current and Constant Dollars
Truck output 1
Final salesPersonal consumption expendituresProducers' durable equipmentNet exports ..
ExportsImports
Government purchases. .. .
Change in business inventories
257
27 879
1761 13.14 133
2 1
27 0
27 28 1
170163.34938
2
23 2
27 579
180193.15034
43
27 7
26 87 5
168103.34335
9
27 o
27 678
1697
3.64336
g
28 5
28 182
1741 13.44537
4
25 4
27 486
17 5253.25738
2 0
27 3
25 878
163223.15339
1 5
13 8
14 94 99 1
g1.62 317
1 2
13 1
13 24 7771 01.52 51 7
1
12 2
14 54 89 11 21.62 81 7
2 2
14 3
13 74 58 2
'71.62 31 7
5
13 6
13 94 78 0g1/72 31 7
3
13 9
13 74 88 0g1.52 41 7
2
12 1
13 04 97 81 41.42 81 7
1 0
12 7
12 04 57 11 31.32 61 7
7
Table 1.14-1.15: Table 1.16-1.17:1. Consists of final sales and change in business inventories of new autos produced in the 1. Includes new trucks only.
United States.2. Consists of personal consumption expenditures, producers' durable equipment, and govern-
ment purchases.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
6 SURVEY OF CURRENT BUSINESS February 1982Table 2.1.Personal Income and Its Disposition
Personal income
Wage and salary disburse-ments
Commodity-producingindustries
ManufacturingDistributive industriesService industriesGovernment and govern-
ment enterprises
Other labor income
Proprietors' income withIVA and CCAdjFarmNonfarm
Rental income of personswith CCAdj
Personal dividend income
Personal interest income
Transfer payments
Old-age, survivors, dis-ability, and health in-surance benefits
Government unemploy-ment insurance bene-fits
Veterans benefitsGovernment employees
retirement benefitsOther transfer payments....Aid to families with de-
pendent childrenOther
Less: Personal contribu-tions for social insurance .
Less: Personal tax andnontax payments
Equals: Disposable person-al income
Less: Personal outlays
Personal consumption ex-penditures
Interest paid by consum-ers to business
Personal transfer pay-ments to foreigners(net)
Equals: Personal saving
Addenda:Disposable personal
income:Total, billions of 1972
dollars.
Per capita:Current dollars1972 dollars
Population (millions)Personal saving as per-
centage of disposablepersonal income
Billions of dollars
1980
2,160.2
1,343.7
465.4350.7328.9295.7
253.6
137.1
130.6
23.4107.2
31.8
54.4
256.3
294.2
153.8
16.015.0
42.866.7
12.454.3
87.9
338.5
1,821.7
1,720.4
1,672.8
46.4
1.2
101.3
1,018.4
8,0024,473
227.7
5.6
1981 r
2,404.0
1,482.6
512.7387.3361.0335.0
273.9
154.2
134.6
22.3112.4
33.6
61.3
308.6
333.2
180.4
15.516.0
48.572.8
13.459.4
104.2
388.1
2,015.8
1,908.5
1,857.8
49.5
1.2
107.3
1,040.3
8,7694,525
229.9
5.3
Seasonally adjusted at annual rates1980
III
2,182.1
1,341.8
460.1346.7329.2298.7
253.9
139.1
129.7
22.1107.6
32.0
55.1
261.8
310.7
163.2
19.014.9
43.170.5
12.857.7
88.1
341.5
1,840.6
1,729.2
1,682.2
46.0
1.0
111.4
1,018.5
8,0744,468
228.0
6.1
IV
2,256.2
1,397.8
484.0364.9340.6310.0
263.3
143.5
134.0
22.5111.6
32.4
56.1
269.7
313.9
165.3
17.515.5
45.769.9
13.156.8
91.2
359.2
1,897.0
1,799.4
1,751.0
46.8
1.6
97.6
1,025.8
8,2994,488
228.6
5.1
1981
I
2,319.8
1,442.9
501.3377.4351.9322.5
267.1
148.0
132.1
18.9113.2
32.7
58.0
288.7
319.6
169.8
15.615.9
46.771.7
13.358.3
102.3
372.0
1,947.8
1,858.9
1,810.1
47.8
1.0
88.9
1,033.3
8,5044,511
229.1
4.6
II
2,368.5
1,467.0
508.1386.7357.8330.5
270.5
151.8
134.1
21.7112.5
33.3
60.2
300.9
324.2
172.0
15.615.9
48.572.3
13.658.7
103.1
382.9
1,985.6
1,879.0
1,829.1
48.9
1.0
106.6
1,036.8
8,6514,517
229.5
5.4
III
2,441.7
1,498.5
520.2393.9365.3338.5
274.5
156.3
137.1
24.7112.4
33.9
63.0
315.7
342.2
188.5
14.815.9
48.974.0
13.460.5
105.0
399.8
2,042.0
1,935.1
1,883.9
50.3
1.0
106.9
1,043.6
8,8734,535
230.1
5.2
IV r
2,485.9
1,522.1
521.0391.0369.1348.7
283.3
160.5
135.2
23.8111.5
34.5
64.1
329.0
347.0
191.4
16.016.4
49.973.4
13.260.1
106.5
398.0
2,087.9
1,961.2
1,908.4
51.2
1.6
126.7
1,047.3
9,0484,539
230.7
6.1
Table 2.2-2.3.Personal Consumption Expenditures by Major Type ofProduct in Current and Constant Dollars
Personal consump-tion expenditures
Durable goods
Motor vehicles and parts ...Furniture and household
equipmentOther
Nondurable goods
Food . .Clothing and shoesGasoline and oilOther nondurable goods
Fuel oil and coalOther
Services
HousingHousehold operation
Electricity and gasOther
TransportationOther
Personal consump-tion expenditures
Durable goods
Motor vehicles and parts ...Furniture and household
equipmentOther
Nondurable goods
FoodClothing and shoesGasoline and oilOther nondurable goods
Fuel oil and coalOther
Services
HousingHousehold operation
Electricity and gasOther . .
TransportationOther
Billions of dollars
1980
1,672.8
211.9
89.9
84.637.3
675.7
345.7104.889.0
136.219.8
116.4
785.2
272.0111.655.756.064.1
337.5
1981 r
1,857.8
232.1
98.4
92.641.1
743.0
381.5116.094.8
150.620.9
129.7
882.7
306.7126.462.963.568.9
380.7
Seasonally adjusted at annual rates1980
III
1,682.2
208.8
87.0
84.637.2
674.2
347.7105.385.3
136.020.7
115.3
799.2
275.7116.159.356.865.8
341.5
IV
1,751.0
223.3
94.6
88.939.8
703.5
360.4109.490.5
143.320.5
122.7
824.2
285.3116.958.858.267.5
354.5
1981
I
1,810.1
238.3
105.4
92.340.6
726.0
372.5113.493.5
146.620.5
126.1
845.8
293.6118.158.459.767.6
366.5
II
1,829.1
227.3
93.4
92.441.6
735.3
377.8115.892.4
149.421.0
128.4
866.5
302.1123.461.561.967.9
373.0
III
1,883.9
236.2
101.6
93.241.4
751.3
386.5117.595.1
152.121.3
130.8
896.4
310.9130.565.565.069.6
385.4
IV r
1,908.4
226.8
93.4
92.640.8
759.3
389.4117.198.4
154.420.8
133.6
922.2
320.3133.466.367.170.5
398.0
Billions of 1972 dollars
935.1
135.8
53.8
58.923.1
358.4
181.578.026.272.6
4.268.4
440.9
164.261.523.338.334.8
180.4
958.8
139.4
54.2
61.124.1
367.1
184.483.725.273.83.6
70.2
452.3
170.262.623.139.534.6
184.9
930.8
132.6
51.5
58.422.6
354.9
180.178.325.271.44.3
67.0
443.3
164.862.624.138.434.7
181.2
946.8
139.1
54.6
60.723.8
360.4
179.980.126.374.1
4.269.8
447.3
166.562.123.438.735.1
183.6
960.2
146.8
60.6
62.124.1
364.5
182.982.824.974.0
3.770.3
448.9
168.061.422.638.834.8
184.6
955.1
137.4
51.7
61.224.5
367.0
185.084.024.473.63.6
70.0
450.7
169.662.423.239.334.5
184.2
962.8
140.3
55.0
60.924.3
368.8
185.284.225.773.8
3.770.1
453.7
170.863.323.439.934.6
185.0
957.2
133.2
49.5
60.123.6
368.2
184.583.826.074.0
3.670.4
455.8
172.363.123.239.934.6
185.8
Table 3.14.State and Local Government Social Insurance FundsReceipts and Expenditures
[Billions of dollars]
Receipts
Contributions for social in-surance
Personal contributionEmployer contributions
Government and gov-ernment enterprises ....
Other
Interest and dividends re-ceived
Expenditures
Administrative expenses(purchases of goods andservices)
Transfer payments to per-sons
Surplus or deficit(-)
45.1
31.5
7.723.8
21.02.8
136
18.2
6
176
26.9
52 1
36.4
8.927.6
24.33.2
157
20.0
6
194
32.1
46 0
32.3
8.124.3
21.428
137
18.3
6
178
277
47 8
33.7
8.425.3
22.429
14 1
18.8
6
182
29 0
49 6
34.8
8.626.3
23.230
14 8
19.2
6
187
30 4
51 5
35.9
8.827.1
24.032
15 6
19.8
6
19 2
31 7
53 0
36.9
8.928.0
24.733
16 0
20.3
g
19 7
32 7
54 5
38.0
9.128.8
25.53 4
16 5
20.8
g
20 2
33 7
Table 3.14:NOTE.In this table, interest and dividends received are included in receipts; in tables 3.2 and
3.3, interest received and dividends received are netted against expenditures.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
February 1982 SURVEY OF CURRENT BUSINESS
Table 3.2.Federal Government Receipts and Expenditures Table 3.3.State and Local Government Receipts and Expenditures
Receipts
Personal tax and nontaxreceipts
Income taxesEstate and gift taxesNontaxes
Corporate profits tax accru-als
Indirect business tax andnontax accruals
Excise taxesCustoms dutiesNontaxes
Contributions for socialinsurance
Expenditures
Purchases of goods andservices . .
National defenseNondefense
Transfer paymentsTo personsTo foreigners
Grants-in-aid to State andlocal governments
Net interest paidInterest paid
To persons and busi-ness .
To foreignersLess: Interest received
Subsidies less current sur-plus of governmententerprises
SubsidiesLess: Current surplus of
government enterprises..
Less: Wage accruals lessdisbursements
Surplus or deficit(-), NIPA's
Social insurance fundsOther
Billions of dollars
1980
540.8
257.8251.0
6.6.2
70.2
40.629.1
7.24.4
172.2
602.0
198.9131.767.2
249.8244.9
4.9
88.0
53.367.5
55.012.514.2
12.010.7
-1.3
0
-61.2
-14.2-47.0
1981 r
625.8
296.2289.0
7.0.2
65.9
61.247.58.65.1
202.5
688.3
230.3154.475.9
284.5279.4
5.1
87.1
73.391.2
74.816.418.0
13.212.8
-.5
0
-62.5
-12.4-50.1
Seasonally adjusted at annual rates1980
III
540.8
259.4252.3
6.9.2
66.7
42.931.47.34.2
171.8
615.0
194.9131.463.5
265.3260.4
4.9
87.7
53.568.2
56.311.914.8
13.710.7
-3.1
0
-74.2
-27.1-47.1
IV
573.2
272.9265.9
6.8.2
72.6
49.136.17.35.6
178.6
641.1
212.0141.670.4
269.0262.6
6.4
91.8
55.270.8
56.714.115.6
13.111.6
-1.4
0
-67.9
-22.2-45.8
1981
I
617.4
283.3276.8
6.4.2
74.6
60.647.8
7.75.0
198.9
664.0
221.6145.276.4
271.9267.3
4.7
90.2
67.784.4
68.615.816.7
12.611.9
-.7
0
-46.6
-4.6-42.0
II
621.0
293.2286.0
7.0.2
64.8
62.649.68.14.9
200.4
668.2
219.5148.271.3
274.8270.7
4.1
89.6
70.488.0
71.017.017.6
13.912.2
-1.7
0
-47.2
-6.1-41.1
III
638.3
306.4299.1
7.1.2
66.4
61.847.69.05.2
203.7
694.0
226.4154.172.2
293.6287.8
5.8
85.4
75.694.3
77.217.118.7
13.312.7
-.6
.2
-55.7
-18.9-36.8
IV r
301.9294.1
7.5.3
59.945.1
9.45.4
206.9
727.1
253.6170.183.5
297.6291.8
5.7
83.4
79.498.3
82.515.818.8
13.114.2
1.1
_ \
-20.1
Receipts
Personal tax and nontaxreceipts
Income taxesNontaxesOther
Corporate profits tax accru-als
Indirect business tax andnontax accruals
Sales taxesProperty taxesOther
Contributions for social in-surance
Federal grants-in-aid
Expenditures
Purchases of goods andservices
Compensation of employ-ees
Other
Transfer payments to per-sons
Net interest paidInterest paidLess: Interest received
Less: Dividends received
Subsidies less current sur-plus of governmententerprises
SubsidiesLess: Current surplus of
government enterprises..
Less: Wage accruals lessdisbursements
Surplus or deficit(-), NIPA's
Social insurance fundsOther
Billions of dollars
1980
384.0
80.744.927.97.9
12.2
171.682.967.521.2
31.5
88.0
355.0
335.8
187.4148.4
38.9
-10.817.628.4
1.6
-7.4.4
7.7
0
29.1
26.92.1
1981'
417.1
91.951.931.48.7
11.7
189.992.772.624.6
36.4
87.1
380.4
361.0
203.3157.6
42.2
-12.819.432.3
1.8
-8.2.4
8.6
0
36.6
32.14.5
Seasonally adjusted at annual rates1980
III
386.8
82.145.828.38.0
11.7
173.083.467.921.7
32.3
87.7
358.2
338.6
189.3149.3
39.7
-11.117.728.8
1.6
-7.5.4
7.8
0
28.6
27.7.9
IV
403.4
86.349.129.08.2
12.6
179.087.568.922.6
33.7
91.8
366.3
346.6
193.3153.3
40.5
-11.418.029.5
1.6
-7.7.4
8.1
0
37.1
29.08.1
1981
I
411.7
88.650.429.88.4
13.1
184.991.270.323.3
34.8
90.2
374.8
354.9
198.0156.9
41.2
-11.818.630.4
1.6
-7.9.4
8.3
0
36.9
30.46.6
II
413.6
89.750.330.78.6
11.6
186.990.971.924.1
35.9
89.6
377.5
357.9
201.6156.2
42.1
-12.419.231.6
1.8
-8.2.4
8.6
0
36.1
31.74.3
III
419.6
93.352.631.88.8
11.7
192.394.273.125.0
36.9
85.4
381.8
362.5
205.0157.5
42.6
-13.219.732.9
1.8
-8.2.4
8.6
0
37.8
32.75.1
IV r
96.154.033.09.1
195.594.475.126.0
38.0
83.4
387.6
368.6
208.7159.9
43.0
-13.920.334.2
1.9
-8.3.4
8.7
0
33.7
Table 3.7B-3.8B.Government Purchases of Goods and Services by Type in Current and Constant Dollars
Government purchases of goods and services
FederalNational defense
Durable goodsNondurable goods . . . .Services
Compensation of employeesMilitary .Civilian
Other servicesStructures
NondefenseDurable goodsNondurable goodsServices
Compensation of employeesOther services
Structures
State and localDurable goodsNondurable goodsServices . . . .
Compensation of employeesOther services
Structures
Billions of dollars
1980
534.7
198.9131.732.910.984.752.830.422.431.93.1
67.21.54.1
55.129.125.96.6
335.810.626.3
253.7187.466.345.3
1981 r
591.3
230.3154.439.313.398.859.434.924.539.43.1
75.91.8
10.556.330.625.77.3
361.011.229.1
277.6203.3
74.243.2
Seasonally adjusted at annual rates1980
III
533.5
194.9131.432.910.584.151.829.722.132.33.8
63.51.5
-1.156.328.827.56.8
338.610.726.7
256.3189.367.144.9
IV
558.6
212.0141.634.913.190.756.833.223.633.92.9
70.41.65.3
57.030.326.76.5
346.610.927.8
262.2193.369.045.7
1981
I
576.5
221.6145.236.312.993.257.433.523.835.92.8
76.42.09.2
57.630.627.0
7.7
354.911.128.3
268.5198.070.447.1
II
577.4
219.5148.237.213.194.957.833.724.237.13.0
71.31.85.4
57.030.426.57.2
357.911.328.8
274.5201.672.843.3
III
588.9
226.4154.140.712.398.158.433.924.439.83.0
72.21.68.6
55.030.124.97.1
362.511.229.6
281.1205.076.140.7
IV r
622.2
253.6170.142.915.0
108.964.038.625.544.83.4
83.51.7
18.855.631.324.3
7.4
368.611.229.7
286.3208.777.641.4
Billions of 1972 dollars
1980
290.0
108.170.918.42.5
48.532.118.913.216.41.6
37.2.9
2.031.117.114.03.2
181.96.3
13.7141.4106.035.420.5
1981 r
291.8
111.674.019.32.7
50.632.419.213.318.21.4
37.6.9
4.229.216.612.63.3
180.26.1
14.0141.6105.935.718.5
Seasonally adjusted at annual rates1980
III
288.2
106.970.918.02.3
48.732.218.913.216.51.9
35.9.9
-.131.917.214.63.2
181.36.3
13.7141.4106.135.320.0
IV
289.8
107.471.918.92.8
48.832.119.013.116.71.4
35.4.9.8
30.716.813.93.0
182.46.2
14.0142.0106.335.620.2
1981
I
293.6
111.272.118.72.7
49.432.219.013.117.21.4
39.01.04.0
30.516.813.63.5
182.56.2
14.0141.9106.435.520.4
II
289.5
108.772.618.72.7
49.832.319.113.217.51.4
36.11.02.1
29.816.713.13.2
180.76.2
14.0141.9106.235.718.6
III
288.3
109.674.019.52.5
50.632.619.213.318.11.4
35.6.8
3.128.516.412.03.1
178.86.1
14.0141.4105.635.817.3
IV r
295.6
116.977.220.23.0
52.532.719.313.319.91.5
39.7.8
7.727.916.411.63.2
178.86.0
14.0141.2105.435.717.6
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
8 SURVEY OF CURRENT BUSINESS February 1982Table 4.1-4.2Foreign Transactions in the National Income and Product Accounts in Current and Constant Dollars
Receipts from foreigners . ..
Exports of goods and services .Merchandise
Durable goods . . . .Nondurable goods
ServicesFactor income lOther
Capital grants received by the United States (net)Payments to foreigners
Imports of goods and services . .Merchandise
Durable goods ..Nondurable goods
ServicesFactor income lOther
Transfer payments (net)From persons (net)From government (net)
Interest paid by government to foreigners
Net foreign investment
Billions of dollars
1980
340.9
339.8218.2127.790.5
121.679.542.1
1.1
340.9
316.5245.9112.1133.8
70.629.940.7
6.01.24.9
12.5
5.9
1981 r
366.7
365.6229.6132.696.9
136.190.645.5
1.1
366.7
340.6260.3123.6136.8
80.336.643.7
6.21.25.1
16.4
3.5
Seasonally adjusted at annual rates1980
III
343.5
342.4222.9129.993.0
119.576.343.2
1.1
343.5
297.9231.5108.7122.8
66.425.940.6
5.91.04.9
11.9
27.8
IV
347.2
346.1221.0127.593.6
125.080.744.3
1.1
347.2
322.7248.8116.0132.9
73.932.241.7
8.01.66.4
14.1
2.3
1981
I
368.5
367.4236.3132.5103.9
131.187.143.9
1.1
368.5
338.2259.1116.4142.7
79.134.944.2
5.71.04.7
15.8
8.8
II
369.3
368.2234.2139.494.8
134.088.745.4
1.1
369.3
347.5265.3123.3142.0
82.238.343.8
5.11.04.1
17.0_ 2
III
369.1
368.0225.1132.692.5
142.995.947.0
1.1
369.1
338.7255.8125.7130.1
82.940.342.6
6.81.05.8
17.1
6.5
IV
360.0
358.9222.7126.096.7
136.290.645.6
1.1
360.0
338.2261.1128.9132.3
77.033.044.0
7.31.65.7
15.8
-1.3
Billions of 1972 dollars
1980
161.192.255.636.6
68.945.423.5
109.174.047.626.4
35.117.018.1
1981 r
159.688.951.137.8
70.747.223.5
115.178.451.027.4
36.719.117.6
Seasonally adjusted at annual rates1980
III
160.593.555.737.8
67.043.123.9
102.870.545.824.6
32.414.617.8
IV
157.489.052.536.4
68.444.424.1
108.973.447.525.8
35.517.717.8
1981
I
162.592.452.939.5
70.146.723.4
111.674.547.726.8
37.118.718.4
II
161.591.054.336.7
70.546.923.7
115.477.350.626.7
38.120.317.8
III
160.186.650.236.4
73.549.524.0
116.979.152.027.1
37.820.817.0
IV r
154.285.547.038.5
68.645.722.9
116.782.853.829.0
33.916.717.2
Table 4.1-4.2:1. Equals rest-of-the-world production as shown in tables 1.5-1.6.
Table 4.3-4.4.Merchandise Exports and Imports by Type of Product and by End-Use Category in Current and Constant Dollars
Merchandise exports
Foods, feeds, and beverages
Industrial supplies and materialsDurable goodsNondurable goods
Capital goods except autos
Autos
Consumer goods . . .Durable goodsNondurable goods
OtherDurable goodsNondurable goods
Merchandise Imports
Foods, feeds, and beverages .
Industrial supplies and materials, excluding petroleumDurable goodsNondurable goods
Petroleum and products
Capital goods except autos
Autos
Consumer goodsDurable goodsNondurable goods
OtherDurable goodsNondurable goods
Addenda:Exports:
Agricultural productsNonagricultural products
Imports of nonpetroleum products
Billions of dollars
1980
218.2
35.9
67.124.342.8
73.5
16.9
16.58.87.7
8.34.24.2
245.9
18.2
52.131.220.9
79.1
30.1
27.1
34.421.213.1
4.92.52.5
42.3175.9166.8
1981 r
229.6
38.8
64.920.644.3
80.1
18.9
16.07.68.4
10.95.55.4
260.3
18.8
56.833.623.2
77.2
33.8
30.0
38.423.514.8
5.32.72.7
44.9184.7183.1
Seasonally adjusted at annual rates1980
III
222.9
38.4
65.923.342.7
77.6
16.5
16.08.37.7
8.44.24.2
231.5
18.2
47.527.619.9
69.1
30.0
28.1
34.320.813.5
4.22.12.1
43.8179.1162.4
IV
221.0
38.8
65.222.243.0
75.5
18.1
16.18.08.1
7.33.73.7
248.8
19.5
51.631.220.4
76.8
31.2
28.9
34.821.713.1
6.03.03.0
44.8176.2172.0
1981
I
236.3
44.9
67.622.145.5
79.1
18.5
16.67.98.6
9.74.84.8
259.1
20.5
55.432.123.3
82.8
32.0
27.0
37.123.213.9
4.32.12.1
51.5184.8176.3
II
234.2
38.8
62.921.541.4
83.4
20.8
16.47.88.6
12.06.06.0
265.3
18.7
57.435.322.0
84.3
32.1
30.6
36.922.614.3
5.32.62.6
44.9189.3181.0
III
225.1
35.8
62.419.243.2
80.2
20.2
15.87.78.2
10.75.45.3
255.8
18.1
57.734.723.0
71.3
34.6
30.6
38.323.315.1
5.22.62.6
40.7184.4184.5
IV r
222.7
35.9
66.619.547.1
77.7
16.3
15.17.08.1
11.25.65.6
261.1
18.0
56.632.224.4
70.5
36.7
31.7
41.225.116.1
6.53.23.2
42.4180.3190.6
Billions of 1972 dollars
1980
92.2
15.3
23.78.6
15.1
34.7
6.8
8.33.84.5
3.51.81.8
74.0
6.7
17.310.27.1
6.9
14.7
10.9
15.510.94.7
2.01.01.0
18.074.167.1
1981 r
88.9
15.7
22.17.0
15.1
32.3
6.6
7.93.14.8
4.22.12.1
78.4
7.3
19.011.27.8
5.9
17.1
10.4
16.611.35.3
2.11.11.1
18.270.772.5
Seasonally adjusted at annual rates1980
III
93.5
16.4
23.58.3
15.2
35.6
6.5
7.93.64.4
3.51.81.8
70.5
6.6
15.68.96.7
5.8
14.4
11.2
15.210.54.7
1.7.8.8
18.774.864.7
IV
89.0
15.2
23.07.8
15.2
33.1
6.8
7.93.44.6
3.01.51.5
73.4
7.0
16.910.06.9
6.2
14.8
10.8
15.210.74.5
2.41.21.2
17.771.367.1
1981
I
92.4
17.1
23.17.6
15.5
33.3
6.8
8.33.35.0
3.81.91.9
74.5
7.4
18.410.67.8
6.3
15.3
9.8
15.711.24.4
1.7.8.8
19.772.768.2
II
91.0
15.1
21.47.3
14.1
34.1
7.3
8.33.25.1
4.72.32.3
77.3
7.0
19.111.77.4
6.2
16.1
10.8
16.011.05.0
2.11.01.0
17.673.471.0
III
86.6
15.0
21.26.5
14.7
31.6
6.9
7.83.14.7
4.12.12.1
79.1
7.1
19.411.67.8
5.6
17.7
10.6
16.611.05.5
2.11.01.0
17.069.673.5
IV r
85.5
15.7
22.76.7
16.1
30.0
5.4
7.42.84.6
4.32.22.2
82.8
7.6
19.210.98.3
5.7
19.2
10.4
18.112.06.2
2.61.31.3
18.567.177.2
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
February 1982 SURVEY OF CURRENT BUSINESS
Table 5.1.Gross Saving and Investment
Gross saving
Gross private savingPersonal savingUndistributed corporate profits
with IVA and CCAdjUndistributed profitsIVACCAdj
Capital consumption allowanceswith CCAdj:
CorporateNoncorporateWage accruals less disbursements ...
Government surplus ordeficit (-), NIPA's
FederalState and local
Capital grants received by theUnited States (net)
Gross investment
Gross private domestic investment-Net foreign investment
Statistical discrepancy
Billions of dollars
1980
401.9
432.9101.3
44.3107.2
-45.7-17.2
175.4111.8
0
-32.161 229.1
1.1
401.2
395.35.9
7
1981 r
454.9
479.7107.3
50.792.1
-27.5-13.9
197.7123.9
0
-25.962 536.6
1.1
454.1
450.73.5
-.8
Seasonally adjusted at annual rates1980
III
402.0
446.5111.4
42.8102.4
-41.7-17.9
178.4113.4
.5
-45.674 228.6
1.1
405.0
377.127.8
3.0
IV
406.7
436.497.6
40.4106.6
-48.4-17.8
183.2115.8-.5
-30.867 937.1
1.1
400.1
397.72.3
-6.6
1981
I
442.6
451.188.9
55.7109.6
-39.2-14.7
187.5119.0
0
-9.746 636.9
1.1
446.0
437.18.8
3.4
II
465.3
475.3106.6
52.090.6
-24.0-14.7
194.6122.1
0
-11.247236.1
1.1
458.3
458.6-.2
-6.9
III
469.4
486.2106.9
52.891.5
-25.3-13.4
201.1125.4
0
-17.955 737.8
1.1
469.6
463.06.5
.2
IV T
"126.7
-21.5-12.8
207.7129.1
0
1.1
442.7
443.9-1.3
Table 5.10-5.11.Inventories and Final Sales of Business in Currentand Constant Dollars
Table 5.8-5.9.Change in Business Inventories by Industry in Currentand Constant Dollars
Change in business inven-tories
FarmNonfarm
Change in book valueIVA1
ManufacturingDurable goodsNondurable goods
Wholesale tradeDurable goodsNondurable goods
Merchant wholesalers.Durable goodsNondurable goods
Nonmerchant wholesalersDurable goodsNondurable goods
Retail tradeDurable goodsNondurable goods
OtherDurable goodsNondurable goods
Change in business inven-tories
FarmNonfarm
Change in book valueIVA1
ManufacturingDurable goodsNondurable goods
Wholesale tradeDurable goodsNondurable goods
Merchant wholesalersDurable goodsNondurable goods
Nonmerchant wholesalersDurable goodsNondurable goods
Retail tradeDurable goodsNondurable goods
OtherDurable goodsNondurable goods
Billions of dollars
1980
-5.9
-1.2-4.749.3
-54.0
-2.1-.5
-1.61.0.8.2
1.51.1.4
-.5-.3-.2
-4.4-4.4
0.8.1.8
1981 r
17.0
2.314.646.1
-31.4
6.24.31.94.73.8
.95.03.61.4
-.32
-J53.703.7
.1-.1
.1
Seasonally adjusted at annual rates1980
III
-16.0
-3.7-12.3
36.5-48.8
-12.6-4.4-8.2-1.9-.8
-1.03.7-.4
-4.1-5.6-.5
-5.12.9
-3.05.9-.8-.2-.6
IV
-17.4
-3.4-14.0
42.4-56.4
-9.7-1.6-8.1
.62.0
-1.4.7
2.5-1.8-.1-.5
.4-4.5
.5-4.9-.4-.2-.2
1981
I
4.5
-2.46.8
52.7-45.9
15.06.28.9
.4-.91.3
-3.8-1.0-2.7
4.2.2
4.0-9.4-9.3-.1
.8-.1
.9
II
23.3
1.821.547.8
-26.3
2.0.6
1.47.56.31.29.76.43.3
-2.2-.1
-2.114.411.72.7
-2.4-.1
-2.3
III
27.5
4.423.151.7
-28.6
10.812.1
-1.3.6
5.4-4.8
4.64.0
.6-4.0
1.4-5.410.01.28.81.7-.11.7
IV r
12.6
5.57.1
32.0-24.9
-3.0-1.8-1.210.14.35.99.44.94.5
.8-.61.4
-.2-3.7
3.6.2
-.1.3
Billions of 1972 dollars
-2.9
-.5-2.4
-1.0-.1-.9
.5
.50
.6
.6
.1-.2-.10
-2.2-2.2
.1
.30
.2
7.6
1.26.4
2.61.8.8
2.21.6.6
2.11.5.6.1.1
01.7-.11.8000
-5.0
-1.8-3.1
-5.2-1.8-3.4
.9-.21.11.902.0
-1.1-.2-.91.3
-1.73.0-.1-.10
-7.2
-1.5-5.6
-3.6-.7
-2.80
.7-.8
.31.0
-.7-.3-.3-.1
-1.9.4
-2.3-.2-.1-.1
-1.4
-1.1-.3
4.62.52.1
-1.0-.9-.1
-1.6-1.0-.7
.7
.1
.6-4.3-4.7
.5
.40
.4
10.8
.99.9
.9
.4
.53.02.8
.23.22.8
.4-.30-.26.95.81.1
-.90-.9
14.9
2.212.8
5.45.2
.22.72.3
.42.71.71.00
.6-.64.5
.44.1
.20
.2
6.2
2.83.4
-.6-.8
.24.12.02.14.22.31.9-.1-.3
.2-.3
-1.71.4.2
0.2
Inventories *FarmNonfarm
Durable goodsNondurable goods .
Manufacturing .Durable goodsNondurable goods
Wholesale tradeDurable goodsNondurable goods
Merchant wholesalersDurable goodsNondurable goods
Nonmerchant wholesalersDurable goodsNondurable goods
Retail tradeDurable goods . ..Nondurable goods
Other
Final sales2Final sales of goods and structures
Ratio' Inventories to final salesNonfarm inventories to final salesNonfarm inventories to final sales of goods
and structures
Inventories * . .
Farm
Durable goodsNondurable goods
ManufacturingDurable goods .Nondurable goods
Wholesale tradeDurable goodsNondurable goods
Merchant wholesalers .Durable goodsNondurable goods .
Nonmerchant wholesalersDurable goodsNondurable goods
Retail tradeDurable goodsNondurable goods
Other
Final sales 2Final sales of goods and structures
Ratio' Inventories to final salesNonfarm inventories to final salesNonfarm inventories to final sales of goods
and structures
Billions of dollars
Seasonally adjusted quarterly totals1980
III
765.892.6
673.2379.9293.4
335.3215.5119.8
146.389.057.3
116.774.042.729.615.014.6
127.358.169.364.3
187.2117.0
4.093.60
5.75
IV
785.492.6
692.8393.7299.1
344.2222.5121.8
151.792.659.1
120.777.243.531.015.415.6
130.360.869.566.5
194.1121.9
4.053.57
5.68
1981
I
796.986.9
710.0397.8312.2
355.2226.9128.2
155.794.361.4
121.878.243.533.916.117.8
129.858.771.169.4
201.4127.6
3.963.53
5.56
II
811.386.7
724.6408.8315.8
363.2231.8131.3
158.897.661.2
125.381.244.133.516.417.1
132.661.271.470.0
202.2126.5
4.013.58
5.73
III
825.685.1
740.5422.7317.8
369.7239.9129.8
160.6100.760.0
128.083.744.232.616.915.7
139.264.075.271.0
207.5128.9
3.983.57
5.74
IV '
834.784.8
749.9427.9322.0
372.5242.5130.0
164.1102.961.2
131.085.945.133.116.916.1
140.964.176.872.5
209.9129.2
3.983.57
5.80Billions of 1972 dollars
342.3
43.4299.0179.9119.1
145.999.046.8
64.742.522.253.335.318.111.37.24.1
65.130.234.823.4
103.964.7
3.292.88
4.62
340.6
43.0297.6179.9117.6
145.098.946.1
64.742.722.053.435.517.911.27.14.1
64.630.334.223.4
105.465.9
3.232.82
4.51
340.2
42.7297.5179.2118.3
146.199.546.6
64.442.422.053.035.317.711.47.14.3
63.529.234.423.4
107.367.9
3.172.77
4.38
342.9
42.9300.0181.4118.6
146.399.646.8
65.243.122.053.836.017.811.37.14.2
65.230.634.623.2
105.966.2
3.242.83
4.53
346.6
43.5303.2183.3119.8
147.7100.946.8
65.843.722.154.536.418.111.47.34.1
66.430.735.723.3
105.965.9
3.272.86
4.60
348.2
44.2304.0183.2120.8
147.5100.746.9
66.944.222.755.537.018.511.37.24.1
66.330.336.023.3
105.064.9
3.312.89
4.68
Table 5.10-5.11:1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories
calculated from current-dollar inventories in this table is not the current-dollar change in busi-ness inventories (CBI) component of GNP. The former is the difference between two inventorystocks, each valued at their respective end-of-quarter prices. The latter is the change in the physi-cal volume of inventories valued at average prices of the quarter. In addition, changes calculatedfrom this table are at quarter rates, whereas CBI is stated at annual rates. Quarter-to-quarterchanges calculated from the constant-dollar inventories shown in this table are at quarterlyrates, whereas the constant-dollar change in business inventories component of GNP is stated atannual rates.
2. Quarterly totals at monthly rates. Business final sales equals final sales less gross product ofhouseholds and institutions, government, and rest-of-the-world and includes a small amount offinal sales by farms.
Table 5.8-5.9:1. The IVA shown in this table differs from that which adjusts business income. The IVA in
this table reflects the mix of methods (first-in-first-out, last-in-first-out, etc.) underlying bookvalue inventories derived primarily from Census Bureau Statistics. The mix differs from that un-derlying business income derived primarily from Internal Revenue Service statistics.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
10 SURVEY OF CURRENT BUSINESS February 1982Table 6.4.National Income Without Capital Consumption Adjustment
by IndustryTable 7.1-7.2.Implicit Price Deflators and Fixed-Weighted Price
Indexes, 1972 Weights, for Gross National Product
National incomewithout CCAdj
Domestic industries
Private industries
Agriculture, forestry,and fisheries
Construction
ManufacturingDurable goods .Nondurable goods
Transportation andpublic utilities
TransportationCommunicationElectric, gas, and
sanitary services
Wholesale tradeRetail tradeFinance, insurance, and
real estateServices
Government and govern-ment enterprises
Rest of the world
Billions of dollars
1980
2,180.4
2,130.8
1,829.1
62.837.0
108.4
527.2311.5215.7
174.380.050.1
44.3
133.8180.0
290.8314.8
301.7
49.7
1981 r
2,406.3
2,352.3
2,022.9
67.244.2
114.8
586.0350.2235.7
193.185.155.9
52.2
151.1200.9
312.3353.3
329.4
54.0
Seasonally adjusted at annual rates1980
III
2,183.1
2,132.6
1,830.1
62.136.0
106.6
517.6305.7211.9
179.379.950.9
48.5
131.4183.6
294.3319.1
302.5
50.5
IV
2,265.6
2,217.1
1,903.1
63.440.9
111.6
548.1329.2218.9
180.982.554.0
44.4
139.6186.6
304.0327.9
314.0
48.6
1981
I
2,350.2
2,297.9
1,977.2
61.442.5
116.4
577.2346.4230.9
187.584.753.9
48.9
146.6197.1
308.1340.4
320.7
52.3
II
2,381.1
2,330.7
2,005.4
65.841.0
114.1
586.3354.9231.4
190.885.354.4
51.2
148.5200.1
309.9348.7
325.3
50.4
III
2,437.6
2,382.0
2,051.3
70.346.1
113.8
596.6355.0241.6
195.585.456.7
53.5
153.6204.2
313.7357.5
330.8
55.6
Table 6.20. Corporate Profits by Industry
Corporate profitswith IVA andCCAdj
Domestic industriesFinancial
Rest of the world
Corporate profitswith IVA
Domestic industries
FinancialFederal Reserve Banks...Other
Nonfinancial
Durable goodsPrimary metal in-
dustriesFabricated metal
Machinery, exceptelectrical
Electric and elec-tronic equipment..
Motor vehicles andequipment
Other
Nondurable goodsFood and kindred
productsChemicals and
allied productsPetroleum and coal
products ..Other
Transportation andpublic utilities
Wholesale and retailtrade
Other
Rest of the world
IV r
Gross national product
Personal consumptionexpenditures
Durable goodsNondurable goodsServices
Gross private domesticinvestment
Fixed investmentNonresidential
StructuresProducers' durable equipment ..
ResidentialNonfarm structuresFarm structuresProducers' durable equipment ..
Change in business inventories
Net exports of goods andservices
ExportsImports
Government purchases ofgoods and services
Federal ..National defenseNondefense
341.0 State and local
57.6
Gross national product
Personal consumptionPYnonrlitnrps
HI*., of donars S^ S^ ::::::::::::::::::::::::::1980
182.7
151.527.9
123.6
31.1
199.8
168.7
30.611.918.7
138.174.520.9
3.1
3.9
6.3
5.3
-4.36.5
53.7
7.3
7.5
24.614.3
18.5
20.924.1
31.1
1981 r
191.5
167.520.9
146.6
24.0
205.4
181.4
24.214.59.7
157.183.527.0
3.2
3.8
8.3
6.8
-.85.7
56.5
9.6
8.6
22.016.4
21.0
28.324.3
24.0
Seasonally adjusted at annual rate1980
III
177.9
147.025.8
121.2
30.9
195.9
165.0
28.711.317.4
136.268.519.4
.7
3.9
6.2
5.5
-4.88.0
49.1
5.7
7.0
22.214.2
22.5
20.424.8
30.9
IV
183.3
155.627.4
128.2
27.7
201.0
173.4
30.512.018.5
142.976.225.8
3.8
4.8
6.1
5.3
-.86.6
50.4
8.6
8.1
19.913.8
18.8
22.625.2
27.7
Services
1Qoi Gross private domesticIy5i invpstmpnt
I
203.0
177.625.5
152.1
25.4
217.7
192.3
28.613.515.1
163.790.431.5
5.1
4.1
8.7
8.4
-1.66.8
58.9
10.4
10.1
21.616.8
20.8
27.525.1
25.4
II
190.3
167.621.0
146.5
22.8
205.1
182.3
24.314.310.1
158.084.431.9
3.8
4.6
8.2
6.2
2.76.3
52.5
9.5
8.3
19.615.1
20.0
28.425.1
22.8
III
195.7
171.119.2
152.0
24.5
209.1
184.6
22.715.27.5
161.985.126.0
3.7
4.7
8.6
6.6
-2.24.7
59.0
8.9
8.5
26.415.2
21.6
30.125.2
24.5
yy r Fixed investment
NonresidentialStructuresProducers' durable equipment ..
ResidentialChange in business inventories
Net exports of goods andservices
ExportsImports
Government purchases ofgoods and services
FederalNational defenseNondefense
State and local
Addenda:Gross domestic purchases1Final salesFinal sales to domestic purchas-
ers *
Personal consumption expendi-tures, food
Personal consumption expendi-tures energy
Other personal consumption ex-penditures
Gross domestic productBusiness
Nonfarm
Table 7.1-7.2:
purchasers equals final sales less expo
Implicit price deflators, 1972 = 100
1980
177.36
178.9156.0188.6178.1
194.2186.8224.7170.2218.6221.7219.9149.4
211.0290.1
184.4183.9185.6180.6184.7
1981 r
193.69
193.8166.5202.4195.2
209.1202.4246.4182.3233.3236.8235.5159.4
229.1295.9
202.6206.4208.7201.7200.3
Seasonally adjusted1980
III
179.18
180.7157.5190.0180.3
196.4189.1229.5171.7221.9225.2223.1151.0
213.4289.7
185.1182.4185.2176.7186.7
IV
183.81
184.9160.5195.2184.3
199.9192.4233.3174.5223.3226.3224.2152.4
219.9296.4
192.8197.4196.8198.7190.0
1981
I
188.14
188.5162.3199.2188.4
203.1195.0236.2176.8228.7231.8229.6155.2
226.1303.1
196.4199.4201.2195.9194.5
Fixed-weighted price indexe
183.3
184.3160.1195.6182.0
203.8195.5217.9182.6219.6
217.1302.9
190.8191.2195.1181.1190.5
188.8183.2
188.7
192.7
317.1
169.5
183.3184.5
200.4
201.0171.9212.6200.2
220.9213.5235.7200.8234.8
237.2321.1
209.0213.2218.8199.0206.2
205.8200.4
205.9
208.6
359.9
184.1
200.5201.8
185.1
186.3162.0197.3184.3
207.1198.6221.0185.8223.1
219.1308.7
192.1190.8194.9180.4193.0
190.9185.0
190.8
195.1
320.3
171.3
185.1186.7
189.7
190.8164.9202.9188.5
209.7202.0224.1189.4224.3
226.6315.5
198.2201.2205.8189.5196.2
195.4189.6
195.4
202.6
325.2
175.0
189.8190.9
194.4
195.8166.7209.5193.1
214.6206.7229.0193.9229.7
232.9324.4
202.7205.5210.0194.0200.7
200.3194.3
200.2
205.7
353.3
178.4
194.4195.7
II
191.06
191.5165.4200.4192.2
208.4201.4244.1182.0231.8235.0233.4158.0
228.0301.2
199.5201.9204.2197.3198.0
III
195.61
195.7168.3203.7197.6
210.9204.5249.2184.0235.4239.1237.6161.5
229.8289.8
204.2206.6208.3203.1202.8
IV r
200.01
199.4170.4206.2202.3
214.5208.7255.6186.4238.7242.9241.2163.1
232.8289.8
210.5217.0220.4210.3206.2
s, 1972 = 100
198.1
198.9170.4211.2197.3
219.1211.8233.5199.3233.1
236.1324.8
206.9210.8216.1197.1204.3
203.8198.0
203.8
206.0
360.3
182.0
198.2199.5
202.6
202.9174.0213.5202.8
223.4216.1238.1203.4237.3
239.0318.6
210.6213.7219.3199.5208.6
207.8202.5
207.8
210.3
360.1
186.2
202.7204.3
206.8
206.4176.5216.2207.6
226.9219.5241.7206.7240.9
241.1317.2
216.1222.8229.4206.0211.5
211.7206.8
211.7
212.5
366.1
189.9
206.9208.0
3 GNP less exports plus imports; final sales to domesticrts plus imports.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
February 1982 SURVEY OF CURRENT BUSINESS 11
Table 7.3.Implicit Price Deflators for Gross National Product byMajor Type of Product
Table 7.7.Current-Dollar Cost and Profit Per Unit of Constant-DollarGross Domestic Product of Nonfinancial Corporate Business
Gross national product
Final salesChange in business inventories
Goods
Final salesChange in business inventories
Durable goodsFinal salesChange in business inventories
Nondurable goodsFinal salesChange in business inventories
Services
Structures
Addenda:Gross domestic purchases 1Final sales to domestic purchas-
ers *
Index numbers, 1972 = 100
1980
177.36
177.4
169.9
170.1
164.1164.5
174.2174.2
176.7
222.1
182.2
182.2
1981 r
193.69
193.5
185.7
185.3
179.7179.0
189.9189.7
193.8
239.8
197.9
197.7
Seasonally adjusted1980
III
179.18
179.7
171.8
172.9
166.3167.0
175.7177.2
178.5
226.0
183.3
183.8
IV
183.81
184.1
176.3
177.0
169.2169.1
181.6182.8
183.2
228.5
188.4
188.7
1981
I
188.14
187.7
181.1
180.1
173.3172.9
186.7185.4
187.2
232.8
192.7
192.2
II
191.06
190.9
183.2
182.6
179.1178.2
186.1185.8
190.8
238.0
195.7
195.5
III
195.61
195.7
187.6
187.7
183.0181.4
190.9192.1
195.9
242.4
199.4
199.5
IV r
200.01
200.0
191.1
191.0
183.7183.9
195.9195.6
201.1
246.8
203.7
203.7
Table 7.4Implicit Price Deflators for Gross National Product bySector
Gross national productGross domestic product
BusinessNonfarm
Nonfarm less housingHousing
FarmStatistical discrepancy
Households and institu-tions
Private householdsNonprofit institutions
GovernmentFederalState and local .
Rest of the world
Addendum:Gross domestic business product
less housing
17736177.41774177.01790160919311774
189.5193.8189 1
1735166.61767
175.4
179.4
193.69193.71937193.81961174919151937
207.9208.92079
1894183.71920
191.9
196.0
179.18179.21795178.8180.81625205.31795
190.7195.01903
173 5163.21783
177.2
181.5
18381183.81838183.11852166420881838
196.0199.81957
1805178.01817
182.0
185.9
18814188.21882187.9190 1169620001882
201.2203.4201 0
184 117951862
186.5
190.4
19106191.1191 1190.9193 117281987191 1
205.7206.62057
186818021898
189.2
193.3
195.61195.61958196.019841765190.61958
210.1211.02100
1898180.51942
193.8
198.1
20001200.01999200.620321803179.01999
214.7215