[Economic Indicators July, 1999]
[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]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                               Gross domestic              Current-dollar cost and profit per unit of real output (dollars) \1\
                                                 product of     ----------------------------------------------------------------------------------------
                                                nonfinancial                                                         Corporate profits with
                                             corporate business                                                      inventory valuation and
                                                 (billions of                             Indirect                     capital consumption
                   Period                         dollars)       Total cost  Consumption  business  Compensation           adjustments             Net
                                            -------------------- and profit   of  fixed     tax,    of employees ------------------------------ interest
                                                        Chained      \2\       capital     etc.\3\                          Profits    Profits
                                              Current   (1992)                                                     Total      tax       after
                                              dollars   dollars                                                            liability   tax \4\
--------------------------------------------------------------------------------------------------------------------------------------------------------
1991.......................................   3,132.1   3,168.8      0.988        0.101      0.100       0.660      0.085      0.027     0.058     0.042
1992.......................................   3,262.6   3,262.6      1.000         .101       .103        .673       .091       .028      .063      .032
1993.......................................   3,430.4   3,374.4      1.017         .101       .106        .679       .103       .031      .072      .028
1994.......................................   3,709.7   3,586.3      1.034         .101       .108        .677       .122       .036      .086      .027
1995 ......................................   3,920.4   3,745.5      1.047         .100       .106        .682       .130       .037      .094      .028
1996 ......................................   4,134.4   3,914.8      1.056         .100       .105        .685       .140       .039      .101      .026
1997 ......................................   4,414.5   4,154.4      1.063         .100       .105        .691       .143       .041      .102      .023
1998 ......................................   4,657.4   4,388.8      1.061         .099       .105        .699       .136       .037      .100      .022
 
1996:I ....................................   4,033.0   3,826.9      1.054         .101       .106        .681       .139       .038      .101      .027
      II ..................................   4,106.4   3,891.0      1.055         .100       .105        .684       .140       .039      .101      .026
      III .................................   4,168.9   3,944.2      1.057         .100       .105        .686       .141       .039      .102      .026
      IV ..................................   4,229.3   3,997.1      1.058         .100       .105        .687       .141       .039      .102      .025
 
1997:I ....................................   4,307.1   4,054.5      1.062         .100       .105        .690       .142       .041      .101      .025
      II ..................................   4,375.7   4,117.0      1.063         .100       .106        .691       .143       .040      .102      .024
      III .................................   4,461.9   4,198.5      1.063         .100       .105        .688       .147       .042      .104      .023
      IV ..................................   4,513.2   4,247.5      1.063         .100       .105        .695       .141       .040      .101      .022
 
1998:I ....................................   4,574.2   4,309.2      1.061         .099       .105        .697       .139       .037      .102      .022
      II ..................................   4,618.8   4,352.0      1.061         .100       .104        .699       .136       .037      .099      .022
      III .................................   4,688.9   4,417.2      1.062         .099       .104        .699       .138       .037      .100      .022
      IV ..................................   4,747.8   4,477.0      1.060         .099       .107        .700       .133       .035      .098      .022
 
1999:I ....................................   4,827.7   4,550.6      1.061         .098       .104        .700       .137       .036      .101      .022
--------------------------------------------------------------------------------------------------------------------------------------------------------

    \1\ Output is measured by GDP of 
nonfinancial corporate business in 
chained (1992) 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.

    Source: Department of Commerce, 
Bureau of Economic Analysis.