[Economic Indicators August, 1995]
[Page Number 3]
[From the U.S. Government Publishing Office, www.gpo.gov]


NONFINANCIAL CORPORATE BUSINESS-OUTPUT, COSTS, AND PROFITS

                                                                      [Quarterly data at seasonally adjusted annual rates]                                                                      
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                                                          Gross domestic                   Current-dollar cost and profit per unit of output (dollars)\1\                                       
                                                            productof       --------------------------------------------------------------------------------------------                        
                                                      nonfinancialcorporate                                                                  Corporate profits with        Output               
                                                       business(billions of                                                                  inventory valuation and      per hour  Compensation
                                                             dollars)                                                                          capital consumption         of all    per hour of
                       Period                        ----------------------- Total cost  Consumption   Indirect  Compensation     Net              adjustments           employees       all    
                                                                                 and       of fixed    business  of employees  interest --------------------------------   (1987      employees 
                                                        Current      1987     profit\2\    capital     taxes\3\                                     Profits    Profits    dollars)    (dollars) 
                                                        dollars    dollars                                                                 Total      tax       after                           
                                                                                                                                                   liability    tax\4\                          
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1986................................................    2,386.3     2,439.3      0.978        0.111       0.095       0.648       0.040     0.084      0.031     0.053      22.733      14.739  
1987................................................    2,547.3     2,547.3      1.000         .110        .095        .658        .042      .096       .037      .059      23.127      15.207  
1988................................................    2,764.8     2,684.8      1.030         .111        .096        .676        .045      .102       .038      .064      23.572      15.833  
1989................................................    2,913.5     2,718.9      1.072         .117        .101        .706        .054      .094       .037      .057      23.188      16.376  
1990................................................    3,045.5     2,747.4      1.109         .120        .106        .736        .054      .093       .034      .059      23.447      17.246  
1991................................................    3,089.7     2,716.7      1.137         .126        .115        .756        .049      .092       .031      .061      23.926      18.081  
1992................................................    3,222.9     2,802.8      1.150         .126        .117        .767        .041      .099       .031      .067      24.649      18.917  
1993................................................    3,409.7     2,942.9      1.159         .123        .117        .768        .039      .112       .040      .073      25.330      19.445  
1994................................................    3,656.9     3,121.9      1.171         .122        .117        .766        .039      .126       .046      .080     r25.881     r19.829  
                                                                                                                                                                                                
1984:IV.............................................    2,228.2     2,328.4       .957         .111        .091        .623        .041      .091       .027      .064      22.055      13.732  
1985:IV.............................................    2,338.8     2,396.9       .976         .110        .093        .643        .038      .092       .030      .063      22.346      14.359  
1986:IV.............................................    2,422.8     2,463.3       .984         .112        .095        .654        .042      .081       .035      .045      22.891      14.975  
1987:IV.............................................    2,627.6     2,604.0      1.009         .110        .094        .664        .042      .099       .038      .060      23.356      15.517  
1988:IV.............................................    2,843.2     2,719.0      1.046         .112        .097        .687        .047      .102       .040      .063      23.521      16.069  
1989:IV.............................................    2,951.5     2,722.7      1.084         .120        .102        .718        .055      .088       .033      .055      23.145      16.616  
1990:IV.............................................    3,052.5     2,725.0      1.120         .123        .109        .748        .054      .085       .034      .052      23.552      17.625  
1991:IV.............................................    3,125.9     2,740.9      1.140         .125        .117        .760        .047      .092       .031      .061      24.214      18.402  
1992:IV.............................................    3,307.8     2,870.2      1.152         .123        .118        .768        .038      .107       .033      .073      25.084      19.253  
                                                                                                                                                                                                
1993:I..............................................    3,324.4     2,868.4      1.159         .124        .117        .776        .039      .102       .037      .065      24.942      19.349  
      II............................................    3,386.3     2,920.5      1.159         .123        .117        .770        .039      .111       .040      .071      25.221      19.418  
      III...........................................    3,428.7     2,963.3      1.157         .124        .116        .766        .039      .113       .038      .075      25.421      19.467  
      IV............................................    3,499.3     3,019.5      1.159         .120        .117        .760        .038      .123       .043      .080      25.664      19.497  
                                                                                                                                                                                                
1994:I..............................................    3,568.6     3,062.6      1.165         .125        .117        .763        .038      .122       .043      .078      25.792      19.683  
      II............................................    3,626.7     3,098.9      1.170         .121        .117        .766        .039      .127       .046      .081      25.744      19.714  
      III...........................................    3,679.4     3,131.2      1.175         .122        .118        .768        .040      .127       .047      .080      25.849      19.855  
      IV............................................    3,752.8     3,195.0      1.175         .121        .117        .768        .041      .128       .049      .079      26.069      20.010  
                                                                                                                                                                                                
1995:I..............................................    3,793.8     3,229.3      1.175         .122        .116        .771        .042      .125       .049      .076     r26.176     r20.180  
      IIp...........................................    3,825.6     3,257.3      1.175         .123        .116        .767        .042      .127       .046      .080   .........  ............
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    \1\Output is measured by GDP of 
nonfinancial corporate business in 
1987 dollars.
    \2\This is equal to the deflator 
for gross domestic product of 
nonfinancial corporate business with 
the decimal point shifted two places 
to the left.
    \3\Indirect business tax and 
nontax liability plus business 
transfer payments less subsidies.
    \4\With inventory valuation and 
capital consumption adjustments.

    Sources: Department of Commerce 
(Bureau of Economic Analysis) and 
Department of Labor (Bureau of Labor 
Statistics).