[Economic Report of the President (1996)]
[Administration of William J. Clinton]
[Online through the Government Publishing Office, www.gpo.gov]

[DOCID: f:erp_b28._]
Economic Report of the President - - - - - - - - - - - - H. Doc. 104-161
[From the online service of the U.S. Government Printing Office]
[wais.access.gpo.gov]


Table B-28.--Gross saving and investment, 1959-95
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Gross saving
------------------------------------------------------------------------------------------------------------------------------------------------
Gross private saving                                          Gross government saving
-------------------------------------------------------------------------------------------------------------------------------
Gross business saving                             Federal                    State and local         Capital
----------------------------------------        -------------------------------------------------------------  grants
Year or  quarter                                                                                                                 Current                       Current  received
Total                                                Corporate                                                                          by the
Total  Personal            Undistributed-       and       Total           Consumption  surplus          Consumption  surplus   United
saving     Total      corporate    noncorporate           Total     of  fixed     or     Total    of  fixed     or     States
\1\      profits \2\    consumption                     capital    deficit            capital    deficit    (net)
of  fixed                                    (-)                           (-)      \3\
capital                                   (NIPA)                        (NIPA)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1959...........................................   109.0    82.8      24.3     58.4         13.9            44.5      26.2     12.8       10.2        2.6    13.5        3.9        9.6  ........

1960...........................................   113.9    82.1      23.3     58.8         12.7            46.1      31.8     17.8       10.5        7.4    14.0        4.0        9.9  ........
1961...........................................   116.8    88.6      28.3     60.2         13.0            47.2      28.3     13.6       10.7        2.9    14.7        4.3       10.4  ........
1962...........................................   127.4    97.1      29.5     67.6         18.7            48.9      30.3     14.0       11.2        2.8    16.3        4.6       11.7  ........
1963...........................................   135.4   100.3      28.6     71.7         21.2            50.5      35.1     17.2       11.8        5.4    17.9        4.9       13.0  ........
1964...........................................   145.8   112.9      35.5     77.4         24.4            53.1      32.9     13.0       12.1         .9    19.9        5.2       14.7  ........

1965...........................................   161.0   124.4      37.8     86.6         29.9            56.7      36.6     15.9       12.5        3.4    20.8        5.7       15.1  ........
1966...........................................   171.7   132.6      39.1     93.5         31.7            61.8      39.2     15.6       13.0        2.6    23.5        6.3       17.3  ........
1967...........................................   174.4   144.7      48.9     95.9         28.9            67.0      29.7      5.6       13.9       -8.3    24.1        6.8       17.3  ........
1968...........................................   185.8   146.1      46.8     99.3         26.3            73.0      39.7     12.0       14.9       -2.8    27.6        7.6       20.0  ........
1969...........................................   202.9   149.0      46.9    102.1         22.6            79.5      53.9     24.3       15.6        8.7    29.6        8.5       21.1  ........

1970...........................................   198.2   164.7      61.0    103.8         17.7            86.1      32.6      2.2       16.2      -14.1    30.4        9.6       20.8       0.9
1971...........................................   215.3   190.7      68.6    122.1         27.3            94.4      23.9     -8.5       16.9      -25.3    32.4       10.7       21.7        .7
1972...........................................   244.9   202.7      63.6    139.1         34.5           104.9      41.5     -2.4       18.2      -20.5    43.9       11.7       32.2        .7
1973...........................................   297.5   242.3      89.6    152.7         37.6           115.1      55.1      8.7       19.9      -11.1    46.4       13.0       33.4       0
1974...........................................   302.3   252.7      97.6    155.2         21.5           133.7      51.5      5.1       22.0      -16.9    46.5       16.0       30.5   \6\-2.0

1975...........................................   298.3   302.2     104.4    197.8         40.1           157.7      -3.9    -49.9       24.0      -73.9    46.0       18.4       27.6       0
1976...........................................   340.9   317.5      96.4    221.1         47.0           174.1      23.5    -31.9       25.4      -57.2    55.3       19.4       35.9       0
1977...........................................   395.5   349.4      92.5    256.9         53.4           203.5      46.1    -19.3       27.0      -46.3    65.4       20.7       44.7       0
1978...........................................   477.4   405.0     112.6    292.4         62.0           230.4      72.4     -2.8       28.9      -31.7    75.1       22.5       52.6       0
1979...........................................   540.9   449.1     130.1    319.0         53.5           265.5      90.7     13.0       31.5      -18.4    77.7       25.4       52.3       1.1

1980...........................................   547.4   489.5     161.8    327.6         23.0           304.6      56.8    -26.8       34.1      -61.0    83.6       29.2       54.4       1.2
1981...........................................   651.1   581.9     199.1    382.8         33.3           349.5      68.1    -20.6       37.1      -57.8    88.7       33.3       55.4       1.1
1982...........................................   604.7   610.1     205.5    404.6         26.3           378.3      -5.3    -92.8       41.9     -134.7    87.5       36.2       51.3       0
1983...........................................   589.6   619.1     167.0    452.1         54.3           397.8     -29.4   -131.8       42.6     -174.4   102.4       37.5       64.9       0
1984...........................................   751.5   737.5     235.7    501.9         91.0           410.9      14.0   -111.9       44.1     -156.0   125.9       39.0       86.9       0

1985...........................................   746.7   731.5     206.2    525.3         92.9           432.4      15.2   -116.9       46.1     -162.9   132.0       41.0       91.0       0
1986...........................................   721.0   710.1     196.5    513.6         54.2           459.4      10.8   -127.9       49.6     -177.5   138.8       43.9       94.9       0
1987...........................................   780.9   727.2     168.4    558.8         75.7           483.2      53.6    -77.2       51.7     -128.9   130.8       47.1       83.8       0
1988...........................................   877.2   808.4     189.1    619.3        103.3           516.0      68.8    -67.0       54.3     -121.3   135.8       49.9       85.9       0
1989...........................................   907.9   815.9     187.8    628.1         76.2           551.9      92.0    -56.4       57.0     -113.4   148.4       53.3       95.1       0

1990...........................................   904.4   861.7     208.7    653.0         77.2           575.8      42.7    -94.0       60.7     -154.7   136.7       56.6       80.1       0
1991...........................................   935.3   931.9     246.4    685.6         86.0           599.6       3.3   -132.2       63.9     -196.0   135.5       59.6       75.8       0
1992...........................................   905.4   971.9     272.6    699.2         88.9           626.1     -66.5   -215.0       65.9     -280.9   148.6       62.3       86.3       0
1993...........................................   938.4   964.5     216.4    748.1        103.4           640.0     -26.0   -186.5       68.2     -254.7   160.5       65.6       94.9       0
1994...........................................  1,055.
9  1,006.
0     192.4    813.7        120.2           678.7      49.9   -119.3       70.6     -189.9   169.2       69.4       99.7       0

1990: I........................................   896.1   850.2     199.0    651.2         85.6           565.6      45.9    -94.8       59.3     -154.1   140.7       55.2       85.5       0
II.......................................   940.7   886.3     213.9    672.4         99.2           573.2      54.5    -84.4       59.7     -144.1   138.9       56.1       82.8       0
III......................................   895.0   838.9     208.3    630.6         50.0           580.6      56.1    -81.9       60.8     -142.6   137.9       57.2       80.7       0
IV.......................................   885.7   871.2     213.5    657.7         73.8           583.9      14.5   -115.0       62.8     -177.7   129.4       57.9       71.5       0

1991: I........................................   983.5   928.2     230.8    697.4        105.0           592.5      55.3    -72.0       62.6     -134.6   127.3       58.6       68.8       0
II.......................................   928.1   927.8     246.3    681.5         85.1           596.4        .2   -132.9       63.9     -196.7   133.1       59.4       73.7       0
III......................................   905.4   918.0     241.7    676.3         74.9           601.4     -12.6   -149.7       64.3     -214.0   137.1       60.0       77.1       0
IV.......................................   924.0   953.7     266.6    687.2         79.1           608.1     -29.7   -174.0       64.8     -238.8   144.4       60.6       83.8       0

1992: I........................................   921.5   977.8     265.2    712.6        111.3           601.3     -56.3   -202.2       65.2     -267.4   145.9       61.1       84.8       0
II.......................................   915.1   980.5     280.3    700.1         93.7           606.4     -65.3   -213.9       65.8     -279.6   148.5       62.0       86.6       0
III......................................   901.0   987.8     254.5    733.4         52.9           680.5     -86.9   -231.5       66.0     -297.5   144.6       62.7       82.0       0
IV.......................................   884.0   941.3     290.5    650.8         97.7           616.2     -57.3   -212.5       66.5     -279.0   155.2       63.5       91.7       0

1993: I........................................   910.7   982.2     199.6    782.5         84.7           633.8     -71.5   -216.4       67.3     -283.7   144.9       64.4       80.5       0
II.......................................   928.0   955.1     228.9    726.2         90.6           634.6     -27.1   -181.6       67.7     -249.2   154.5       65.3       89.1       0
III......................................   940.4   964.3     204.9    759.5        110.1           648.4     -24.0   -184.8       68.6     -253.5   160.9       66.0       94.9       0
IV.......................................   974.6   956.2     232.1    724.1        128.1           643.3      18.4   -163.3       69.1     -232.4   181.7       66.7      115.0       0

1994: I........................................  1,034.
8  1,014.
2     133.9    880.3         80.1           748.7      20.6   -143.4       69.5     -212.9   164.0       69.2       94.8       0
II.......................................  1,069.
8   996.0     210.3    785.7        129.9           652.7      73.8    -99.9       70.0     -169.9   173.7       68.5      105.2       0
III......................................  1,054.
4  1,001.
1     207.4    793.7        133.9           656.7      53.3   -115.9       70.4     -186.3   169.2       69.6       99.6       0
IV.......................................  1,064.
9  1,012.
8     217.8    795.0        136.8           656.6      52.0   -117.8       72.7     -190.4   169.8       70.5       99.3       0

1995: I........................................  1,110.
5  1,039.
9     253.3    786.6        120.6           664.6      70.5    -99.9       73.5     -173.3   170.4       71.4       99.0       0
II.......................................  1,092.
3  1,007.
3     211.4    795.9        122.3           673.6      85.0    -86.3       74.2     -160.5   171.3       72.3       99.0       0
III......................................  1,145.
7  1,064.
0     220.9    843.1        161.4           681.8      81.6    -84.6       73.8     -158.4   166.2       73.4       92.8       0
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ Includes private wage accruals less disbursements not shown separately.
\2\ With inventory valuation and capital consumption adjustments.
\3\ Consists mainly of allocations of special drawing rights (SDRs).

See next page for continuation of table.


Table B-28.--Gross saving and investment, 1959-95--Continued
[Billions of dollars except as noted; quarterly data at seasonally adjusted annual rates]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Gross investment                                      Addenda:
----------------------------------------------------             ---------------------
Gross    Personal
Statistical   saving    saving as
Year or quarter                                        Gross        Gross                                    as a    a  percent
Total     private     government    Net  foreign  discrepancy   percent      of
domestic     investment     investment                of gross  disposable
investment       \4\            \5\                    national    personal
product    income
--------------------------------------------------------------------------------------------------------------------------------------------------------
1959.............................................................     106.9       78.8          29.3           -1.2         -2.1        21.4        7.0

1960.............................................................     110.2       78.8          28.2            3.2         -3.7        21.5        6.4
1961.............................................................     113.5       77.9          31.3            4.3         -3.3        21.3        7.5
1962.............................................................     125.0       87.9          33.2            3.9         -2.4        21.6        7.4
1963.............................................................     131.9       93.4          33.5            5.0         -3.5        21.8        6.8
1964.............................................................     143.8      101.7          34.5            7.5         -2.1        21.8        7.7

1965.............................................................     159.6      118.0          35.4            6.2         -1.4        22.2        7.6
1966.............................................................     174.4      130.4          40.1            3.9          2.7        21.7        7.3
1967.............................................................     175.1      128.0          43.5            3.5           .6        20.8        8.5
1968.............................................................     186.0      139.9          44.3            1.7           .2        20.3        7.5
1969.............................................................     200.7      155.0          43.9            1.8         -2.2        20.5        7.0

1970.............................................................     199.1      150.2          44.0            4.9          1.0        19.0        8.4
1971.............................................................     220.4      176.0          43.1            1.3          5.1        19.0        8.7
1972.............................................................     248.1      205.6          45.4           -2.9          3.2        19.7        7.4
1973.............................................................     299.9      242.9          48.3            8.7          2.4        21.3        9.3
1974.............................................................     306.7      245.6          56.0            5.1          4.5        20.0        9.3

1975.............................................................     309.5      225.4          62.7           21.4         11.2        18.1        9.0
1976.............................................................     359.9      286.6          64.4            8.9         18.9        18.6        7.6
1977.............................................................     413.0      356.6          65.4           -9.0         17.5        19.3        6.6
1978.............................................................     494.9      430.8          74.6          -10.4         17.6        20.6        7.1
1979.............................................................     568.7      480.9          85.3            2.6         27.8        20.9        7.4

1980.............................................................     574.8      465.9          96.4           12.5         27.4        19.4        8.2
1981.............................................................     665.7      556.2         102.1            7.4         14.6        20.7        9.1
1982.............................................................     601.8      501.1         106.9           -6.1         -2.9        18.5        8.8
1983.............................................................     626.2      547.1         116.5          -37.3         36.5        16.6        6.6
1984.............................................................     755.7      715.6         131.7          -91.5          4.2        19.1        8.4

1985.............................................................     748.0      715.1         149.9         -116.9          1.3        17.8        6.9
1986.............................................................     743.1      722.5         163.5         -142.9         22.1        16.3        6.2
1987.............................................................     764.2      747.2         173.5         -156.4        -16.6        16.6        5.0
1988.............................................................     828.7      773.9         172.9         -118.1        -48.6        17.3        5.2
1989.............................................................     919.5      829.2         182.7          -92.4         11.6        16.6        4.8

1990.............................................................     920.5      799.7         199.4          -78.6         16.1        15.7        5.0
1991.............................................................     944.0      736.2         200.5            7.3          8.8        15.8        5.7
1992.............................................................     949.1      790.4         209.1          -50.5         43.7        14.5        5.9
1993.............................................................     993.5      871.1         210.6          -88.2         55.1        14.3        4.5
1994.............................................................   1,087.2    1,014.4         212.3         -139.6         31.3        15.3        3.8

1990: I..........................................................     939.2      822.5         196.0          -79.4         43.0        15.8        4.9
II.........................................................     958.1      835.2         196.7          -73.8         17.4        16.3        5.2
III........................................................     911.3      804.9         199.7          -93.3         16.3        15.4        5.0
IV.........................................................     873.4      736.1         205.4          -68.1        -12.3        15.2        5.0

1991: I..........................................................     977.0      723.6         198.1           55.3         -6.5        16.8        5.4
II.........................................................     933.7      716.2         201.5           16.0          5.6        15.7        5.7
III........................................................     922.6      743.9         201.3          -22.6         17.2        15.2        5.5
IV.........................................................     942.8      760.9         201.4          -19.4         18.8        15.4        6.0

1992: I..........................................................     944.7      755.2         209.5          -19.9         23.3        15.0        5.9
II.........................................................     951.4      790.8         209.3          -48.7         36.2        14.7        6.1
III........................................................     952.6      799.7         208.9          -56.0         51.6        14.3        5.5
IV.........................................................     947.6      816.1         208.8          -77.2         63.6        13.8        6.1

1993: I..........................................................     991.4      843.6         207.1          -59.4         80.7        14.1        4.3
II.........................................................     983.1      855.9         210.6          -83.4         55.0        14.3        4.8
III........................................................     988.9      873.8         209.8          -94.7         48.6        14.3        4.3
IV.........................................................   1,010.7      911.2         214.7         -115.2         36.0        14.6        4.7

1994: I..........................................................   1,055.9      957.6         207.3         -109.0         21.1        15.3        2.8
II.........................................................   1,087.3    1,016.5         208.5         -137.7         17.5        15.6        4.2
III........................................................   1,101.1    1,033.6         217.2         -149.6         46.7        15.1        4.1
IV.........................................................   1,104.5    1,050.1         216.3         -161.9         39.7        15.1        4.2

1995: I..........................................................   1,146.7    1,072.0         219.1         -144.4         36.2        15.6        4.8
II.........................................................   1,113.9    1,050.3         223.7         -160.1         21.6        15.2        4.0
III........................................................   1,143.3    1,067.1         224.9         -148.7         -2.3        15.7        4.1
--------------------------------------------------------------------------------------------------------------------------------------------------------
\4\ For details on government investment, see Table B-16.
\5\ Net exports of goods and services plus net receipts of factor income from rest of the world less net transfers plus net capital grants received by
the United States. See also Table B-20.
\6\ Consists of a U.S. payment to India under the Agricultural Trade Development and Assistance Act. This payment is included in capital grants received
by the United States, net.

Source: Department of Commerce, Bureau of Economic Analysis.