[Economic Report of the President (1997)]
[Administration of William J. Clinton]
[Online through the Government Printing Office, www.gpo.gov]

[DOCID: f:erp_b1._]
Economic Report of the President - - - - - - - - - - - - H. Doc. 105-002
[From the online service of the U.S. Government Printing Office]
[wais.access.gpo.gov]


NATIONAL INCOME OR EXPENDITURE


Table B-1.--Gross domestic product, 1959-96
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Personal consumption expenditures                    Gross private domestic investment
----------------------------------------------------------------------------------------------------------
Fixed investment
------------------------------------------------
Gross                                                                     Nonresidential                   Change
Year or  quarter            domestic                       Non-                                -----------------------------           in  busi-
product    Total    Durable   durable    Serv-     Total                                 Pro-                 ness
goods     goods      ices              Total                      ducers'     Resi-    inven-
Total    Struc-   durable    dential   tories
tures     equip-
ment
--------------------------------------------------------------------------------------------------------------------------------------------------------
1959..............................      507.2    318.1      42.7     148.5      127.0     78.8     74.6     46.5     18.1       28.3      28.1       4.2

1960..............................      526.6    332.2      43.3     152.9      136.0     78.8     75.5     49.2     19.6       29.7      26.3       3.2
1961..............................      544.8    342.6      41.8     156.6      144.3     77.9     75.0     48.6     19.7       28.9      26.4       2.9
1962..............................      585.2    363.4      46.9     162.8      153.7     87.9     81.8     52.8     20.8       32.1      29.0       6.1
1963..............................      617.4    383.0      51.6     168.2      163.2     93.4     87.7     55.6     21.2       34.4      32.1       5.7
1964..............................      663.0    411.4      56.7     178.7      176.1    101.7     96.7     62.4     23.7       38.7      34.3       5.0
1965..............................      719.1    444.3      63.3     191.6      189.4    118.0    108.3     74.1     28.3       45.8      34.2       9.7
1966..............................      787.8    481.9      68.3     208.8      204.8    130.4    116.7     84.4     31.3       53.0      32.3      13.8
1967..............................      833.6    509.5      70.4     217.1      222.0    128.0    117.6     85.2     31.5       53.7      32.4      10.5
1968..............................      910.6    559.8      80.8     235.7      243.4    139.9    130.8     92.1     33.6       58.5      38.7       9.1
1969..............................      982.2    604.7      85.9     253.2      265.5    155.0    145.5    102.9     37.7       65.2      42.6       9.5

1970..............................    1,035.6    648.1      85.0     272.0      291.1    150.2    148.1    106.7     40.3       66.4      41.4       2.2
1971..............................    1,125.4    702.5      96.9     285.5      320.1    176.0    167.5    111.7     42.7       69.1      55.8       8.5
1972..............................    1,237.3    770.7     110.4     308.0      352.3    205.6    195.7    126.1     47.2       78.9      69.7       9.9
1973..............................    1,382.6    851.6     123.5     343.1      384.9    242.9    225.4    150.0     55.0       95.1      75.3      17.5
1974..............................    1,496.9    931.2     122.3     384.5      424.4    245.6    231.5    165.6     61.2      104.3      66.0      14.1
1975..............................    1,630.6  1,029.1     133.5     420.6      475.0    225.4    231.7    169.0     61.4      107.6      62.7      -6.3
1976..............................    1,819.0  1,148.8     158.9     458.2      531.8    286.6    269.6    187.2     65.9      121.2      82.5      16.9
1977..............................    2,026.9  1,277.1     181.1     496.9      599.0    356.6    333.5    223.2     74.6      148.7     110.3      23.1
1978..............................    2,291.4  1,428.8     201.4     549.9      677.4    430.8    403.6    272.0     91.4      180.6     131.6      27.2
1979..............................    2,557.5  1,593.5     213.9     624.0      755.6    480.9    464.0    323.0    114.9      208.1     141.0      16.9

1980..............................    2,784.2  1,760.4     213.5     695.5      851.4    465.9    473.5    350.3    133.9      216.4     123.2      -7.6
1981..............................    3,115.9  1,941.3     230.5     758.2      952.6    556.2    528.1    405.4    164.6      240.9     122.6      28.2
1982..............................    3,242.1  2,076.8     239.3     786.8    1,050.7    501.1    515.6    409.9    175.0      234.9     105.7     -14.5
1983..............................    3,514.5  2,283.4     279.8     830.3    1,173.3    547.1    552.0    399.4    152.7      246.7     152.5      -4.9
1984..............................    3,902.4  2,492.3     325.1     883.6    1,283.6    715.6    648.1    468.3    176.0      292.3     179.8      67.5
1985..............................    4,180.7  2,704.8     361.1     927.6    1,416.1    715.1    688.9    502.0    193.3      308.7     186.9      26.2
1986..............................    4,422.2  2,892.7     398.7     957.2    1,536.8    722.5    712.9    494.8    175.8      319.0     218.1       9.6
1987..............................    4,692.3  3,094.5     416.7   1,014.0    1,663.8    747.2    722.9    495.4    172.1      323.3     227.6      24.2
1988..............................    5,049.6  3,349.7     451.0   1,081.1    1,817.6    773.9    763.1    530.6    181.3      349.3     232.5      10.9
1989..............................    5,438.7  3,594.8     472.8   1,163.8    1,958.1    829.2    797.5    566.2    192.3      373.9     231.3      31.7

1990..............................    5,743.8  3,839.3     476.5   1,245.3    2,117.5    799.7    791.6    575.9    200.8      375.1     215.7       8.0
1991..............................    5,916.7  3,975.1     455.2   1,277.6    2,242.3    736.2    738.5    547.3    181.7      365.6     191.2      -2.3
1992..............................    6,244.4  4,219.8     488.5   1,321.8    2,409.4    790.4    783.4    557.9    169.2      388.7     225.6       7.0
1993..............................    6,553.0  4,454.1     530.7   1,368.9    2.554.6    871.1    850.5    598.8    171.8      427.0     251.7      20.6
1994..............................    6,935.7  4,700.9     580.9   1,429.7    2,690.3  1,014.4    954.9    667.2    180.2      487.0     287.7      59.5
1995..............................    7,253.8  4,924.9     606.4   1,485.9    2,832.6  1,065.3  1,028.2    738.5    199.7      538.8     289.8      37.0

1990:I............................    5,660.4  3,759.2     493.3   1,220.7    2,045.3    822.5    813.9    581.2    201.9      379.3     232.7       8.6
II............................    5,751.0  3,811.8     477.6   1,230.2    2,104.1    835.2    794.0    571.6    202.4      369.2     222.4      41.2
III...........................    5,782.4  3,879.2     473.2   1,256.2    2,149.8    804.9    791.2    580.3    203.5      376.7     210.9      13.8
IV............................    5,781.5  3,907.0     461.9   1,274.1    2,171.0    736.1    767.5    570.6    195.4      375.1     196.9     -31.4

1991:I............................    5,822.1  3,910.7     449.0   1,268.3    2,193.5    723.6    739.7    555.4    192.3      363.1     184.3     -16.1
II............................    5,892.3  3,961.0     452.7   1,279.7    2,228.6    716.2    736.2    550.2    187.6      362.6     185.9     -19.9
III...........................    5,950.0  4,001.6     462.0   1,283.4    2,256.3    743.9    738.6    544.3    176.1      368.2     194.3       5.3
IV............................    6,002.3  4,027.1     457.3   1,279.0    2,290.7    760.9    739.5    539.2    170.8      368.4     200.3      21.4

1992:I............................    6,121.8  4,127.6     474.1   1,303.1    2,350.4    755.2    755.4    544.1    171.6      372.5     211.3       -.3
II............................    6,201.2  4,183.0     481.3   1,308.4    2,393.3    790.8    780.5    556.8    170.4      386.3     223.7      10.2
III...........................    6,271.7  4,238.9     492.5   1,326.3    2,420.1    799.7    788.1    561.0    167.6      393.4     227.1      11.6
IV............................    6,383.0  4,329.6     506.2   1,349.5    2,473.9    816.1    809.7    569.6    167.1      402.5     240.1       6.4

1993:I............................    6,442.6  4,367.6     508.3   1,354.1    2,505.2    843.6    823.8    580.3    170.2      410.1     243.5      19.9
II............................    6,506.2  4,424.8     525.2   1,364.1    2,535.4    855.9    834.3    591.1    169.7      421.3     243.2      21.6
III...........................    6,574.4  4,481.0     536.7   1,371.3    2,572.9    873.8    851.8    599.2    171.4      427.7     252.6      22.0
IV............................    6,688.6  4,543.1     552.3   1,386.1    2,604.7    911.2    892.3    624.6    175.8      448.8     267.7      18.8

1994:I............................    6,776.0  4,600.9     562.6   1,399.7    2,638.6    957.6    917.4    638.8    171.8      467.0     278.5      40.2
II............................    6,890.5  4,666.2     573.1   1,416.6    2,676.5  1,016.5    942.0    653.5    179.1      474.4     288.5      74.5
III...........................    6,993.1  4,738.3     585.3   1,443.4    2,709.6  1,033.6    968.9    678.5    181.0      497.5     290.4      64.7
IV............................    7,083.2  4,798.2     602.7   1,459.0    2,736.6  1,050.1    991.4    697.9    188.8      509.1     293.5      58.7

21995:I...........................    7,149.8  4,840.6     593.0   1,471.5    2,776.1  1,072.0  1,013.9    723.6    194.5      529.0     290.4      58.1
II............................    7,204.9  4,910.5     604.0   1,486.7    2,819.8  1,050.3  1,016.3    734.4    197.6      536.8     281.9      34.0
III...........................    7,309.8  4,957.9     615.8   1,491.2    2,850.9  1,074.8  1,036.6    746.3    202.5      543.8     290.3      38.2
IV............................    7,350.6  4,990.5     612.8   1,494.2    2,883.5  1,064.0  1.046.2    749.7    204.0      545.7     296.5      17.8

21996:I...........................    7,426.8  5,060.5     625.2   1,522.1    2,913.2  1,068.9  1,070.7    769.0    208.4      560.6     301.7      -1.7
II............................    7,545.1  5,139.4     637.6   1,544.7    2,957.1  1,096.0  1,088.0    773.8    207.4      566.3     314.2       8.0
III...........................    7,616.3  5,165.4     630.5   1,546.5    2,988.5  1,156.2  1,119.6    807.0    213.5      593.5     312.6      36.6
--------------------------------------------------------------------------------------------------------------------------------------------------------
See next page for continuation of table.


Table B-1.--Gross domestic product, 1959-96--Continued
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Net exports of goods  and     Government consumption expenditures  and gross                                       Percent change
services                               investment                                                         from preceding
---------------------------------------------------------------------------------   Final      Gross      Adden-          period
Federal                       sales of    domes-      dum:   --------------------
Year or  quarter                                                              ------------------------------             domes-   tic  pur-    Gross      Gross     Gross
Net                                                                   State      tic                 national   domes-     domes-
exports   Exports   Imports     Total              Nation-  Non-  de-    and     product   chases\1\    prod-       tic    tic  pur-
Total    al  de-     fense    local                           uct\2\     prod-
fense                                                           uct    chases\1\
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1959.....................................................      -1.7      20.6       22.3     112.0      67.2      55.7      11.5     44.8      503.0      508.9      510.1   ........  .........

1960.....................................................       2.4      25.3       22.8     113.2      65.6      54.9      10.8     47.6      523.3      524.1      529.8        3.8        3.0
1961.....................................................       3.4      26.0       22.7     120.9      69.1      57.7      11.4     51.8      541.9      541.5      548.4        3.5        3.3
1962.....................................................       2.4      27.4       25.0     131.4      76.5      62.3      14.2     55.0      579.1      582.8      589.4        7.4        7.6
1963.....................................................       3.3      29.4       26.1     137.7      78.1      62.2      15.9     59.6      611.7      614.1      621.9        5.5        5.4
1964.....................................................       5.5      33.6       28.1     144.4      79.4      61.3      18.1     65.0      658.0      657.6      668.0        7.4        7.1
1965.....................................................       3.9      35.4       31.5     153.0      81.8      62.0      19.7     71.2      709.4      715.3      724.5        8.5        8.8
1966.....................................................       1.9      38.9       37.1     173.6      94.1      73.4      20.7     79.5      774.0      785.9      793.0        9.5        9.9
1967.....................................................       1.4      41.4       39.9     194.6     106.6      85.5      21.0     88.1      823.1      832.2      839.1        5.8        5.9
1968.....................................................      -1.3      45.3       46.6     212.1     113.8      92.0      21.8     98.3      901.4      911.8      916.7        9.2        9.6
1969.....................................................      -1.2      49.3       50.5     223.8     115.8      92.4      23.4    108.0      972.7      983.4      988.4        7.9        7.8

1970.....................................................       1.2      57.0       55.8     236.1     115.9      90.6      25.3    120.2    1,033.4    1,034.4    1,042.0        5.4        5.2
1971.....................................................      -3.0      59.3       62.3     249.9     117.1      88.7      28.3    132.8    1,116.9    1,128.4    1,133.1        8.7        9.1
1972.....................................................      -8.0      66.2       74.2     268.9     125.1      93.2      31.9    143.8    1,227.4    1,245.3    1,246.0        9.9       10.4
1973.....................................................        .6      91.8       91.2     287.6     128.2      94.7      33.5    159.4    1,365.2    1,382.0    1,395.4       11.7       11.0
1974.....................................................      -3.1     124.3      127.5     323.2     139.9     101.9      38.0    183.3    1,482.8    1,500.0    1,512.6        8.3        8.5
1975.....................................................      13.6     136.3      122.7     362.6     154.5     110.9      43.6    208.1    1,636.9    1,617.1    1,643.9        8.9        7.8
1976.....................................................      -2.3     148.9      151.1     385.9     162.7     116.1      46.6    223.1    1,802.0    1,821.2    1,836.1       11.5       12.6
1977.....................................................     -23.7     158.8      182.4     416.9     178.4     125.8      52.6    238.5    2,003.8    2,050.5    2,047.5       11.4       12.6
1978.....................................................     -26.1     186.1      212.3     457.9     194.4     135.6      58.9    263.4    2,264.2    2,317.5    2,313.5       13.0       13.0
1979.....................................................     -24.0     228.7      252.7     507.1     215.0     151.2      63.8    292.0    2,540.6    2,581.5    2,590.4       11.6       11.4

1980.....................................................     -14.9     278.9      293.8     572.8     248.4     174.2      74.2    324.4    2,791.9    2,799.1    2,819.5        8.9        8.4
1981.....................................................     -15.0     302.8      317.8     633.4     284.1     202.0      82.2    349.2    3,087.8    3,130.9    3,150.6       11.9       11.9
1982.....................................................     -20.5     282.6      303.2     684.8     313.2     230.9      82.3    371.6    3,256.6    3,262.6    3,273.2        4.1        4.2
1983.....................................................     -51.7     277.0      328.6     735.7     344.5     255.0      89.4    391.2    3,519.4    3,566.2    3,546.5        8.4        9.3
1984.....................................................    -102.0     303.1      405.1     796.6     372.6     282.7      89.9    424.0    3,835.0    4,004.5    3,933.5       11.0       12.3
1985.....................................................    -114.2     303.0      417.2     875.0     410.1     312.4      97.7    464.9    4,154.5    4,294.9    4,201.0        7.1        7.3
1986.....................................................    -131.5     320.7      452.2     938.5     435.2     332.4     102.9    503.3    4,412.6    4,553.7    4,435.1        5.8        6.0
1987.....................................................    -142.1     365.7      507.9     992.8     455.7     350.4     105.3    537.2    4,668.1    4,834.5    4,701.3        6.1        6.2
1988.....................................................    -106.1     447.2      553.2   1,032.0     457.3     354.0     103.3    574.7    5,038.7    5,155.6    5,062.6        7.6        6.6
1989.....................................................     -80.4     509.3      589.7   1,095.1     477.2     360.6     116.7    617.9    5,407.0    5,519.1    5,452.8        7.7        7.0

1990.....................................................     -71.3     557.3      628.6   1,176.1     503.6     373.1     130.4    672.6    5,735.8    5,815.1    5,764.9        5.6        5.4
1991.....................................................     -20.5     601.8      622.3   1,225.9     522.6     383.5     139.1    703.4    5,919.0    5,937.2    5,932.4        3.0        2.1
1992.....................................................     -29.5     639.4      669.0   1,263.8     528.0     375.8     152.2    735.8    6,237.4    6,274.0    6,255.5        5.5        5.7
1993.....................................................     -62.7     657.8      720.5   1,290.4     522.6     362.7     159.9    767.8    6,532.4    6,615.7    6,563.5        4.9        5.4
1994.....................................................     -94.4     719.1      813.5   1,314.7     516.4     352.0     164.3    798.4    6,876.2    7,030.1    6,931.9        5.8        6.3
1995.....................................................     -94.7     807.4      902.0   1,358.3     516.6     345.5     171.0    841.7    7,216.7    7,348.4    7,246.7        4.6        4.5

1990:I...................................................     -74.3     541.6      615.9   1,153.0     496.4     369.7     126.7    656.6    5,651.8    5,734.7    5,681.4        9.1        8.8
II...................................................     -60.3     554.8      615.1   1,164.3     500.1     370.6     129.5    664.2    5,709.8    5,811.3    5,767.8        6.6        5.5
III..................................................     -78.5     555.5      634.1   1,176.9     501.2     368.9     132.3    675.7    5,768.7    5,861.0    5,796.8        2.2        3.5
IV...................................................     -72.0     577.3      649.2   1,210.4     516.7     383.3     133.3    693.7    5,812.9    5,853.5    5,813.6        -.1        -.5

1991:I...................................................     -32.9     577.4      610.3   1,220.6     525.6     389.7     136.0    695.0    5,838.2    5,855.0    5,849.0        2.8         .1
II...................................................     -12.3     602.7      615.0   1,227.4     528.2     389.3     138.9    699.2    5,912.2    5,904.6    5,904.5        4.9        3.4
III..................................................     -22.0     602.6      624.5   1,226.5     520.9     382.1     138.8    705.5    5,944.7    5,972.0    5,959.4        4.0        4.6
IV...................................................     -14.8     624.4      639.3   1,229.2     515.5     373.0     142.6    713.6    5,980.9    6,017.1    6,016.6        3.6        3.1

1992:I...................................................      -8.9     632.4      641.3   1,247.9     521.8     372.8     149.0    726.1    6,122.1    6,130.7    6,138.3        8.2        7.8
II...................................................     -29.0     635.9      664.9   1,256.4     523.2     374.1     149.1    733.2    6,191.0    6,230.2    6,212.2        5.3        6.7
III..................................................     -37.6     640.2      677.8   1,270.7     532.0     380.9     151.1    738.7    6,260.1    6,309.3    6,281.1        4.6        5.2
IV...................................................     -42.7     649.1      691.8   1,280.0     535.0     375.3     159.7    745.1    6,376.6    6,425.7    6,390.5        7.3        7.6

1993:I...................................................     -47.9     646.9      694.8   1,279.3     525.5     365.7     159.8    753.8    6,422.8    6,490.5    6,458.6        3.8        4.1
II...................................................     -59.6     660.4      720.0   1,285.1     520.1     362.7     157.4    765.0    6,484.6    6,565.8    6,516.5        4.0        4.7
III..................................................     -74.5     645.3      719.8   1,294.1     521.3     361.2     160.1    772.7    6,552.3    6,648.8    6,587.1        4.3        5.2
IV...................................................     -68.8     678.7      747.5   1,303.2     523.5     361.3     162.2    779.7    6,669.8    6,757.4    6,691.9        7.1        6.7

1994:I...................................................     -78.8     678.9      757.6   1,296.4     511.3     346.7     164.6    785.0    6,735.9    6,854.8    6,781.0        5.3        5.9
II...................................................     -93.0     707.4      800.4   1,300.8     509.4     349.3     160.0    791.4    6,816.0    6,983.5    6,888.3        6.9        7.7
III..................................................    -107.0     729.2      836.1   1,328.2     523.8     362.3     161.5    804.4    6,928.5    7,100.1    6,987.0        6.1        6.8
IV...................................................     -98.7     761.0      859.6   1,333.5     520.9     349.7     171.2    812.6    7,024.6    7,181.9    7,071.4        5.3        4.7

1995:I...................................................    -108.7     776.1      884.8   1,345.8     519.7     347.6     172.1    826.1    7,091.7    7,258.4    7,146.8        3.8        4.3
II...................................................    -115.3     797.3      912.6   1,359.4     522.0     351.7     170.3    837.3    7,170.9    7,320.2    7,202.4        3.1        3.4
III..................................................     -87.6     819.0      906.6   1,364.6     516.8     345.7     171.1    847.7    7,271.5    7,397.3    7,293.4        6.0        4.3
IV...................................................     -67.2     837.0      904.2   1,363.4     507.7     337.1     170.6    855.7    7,332.8    7,417.8    7,344.3        2.3        1.1

1996:I...................................................     -86.3     839.5      925.8   1,383.7     518.6     343.9     174.7    865.1    7,428.6    7,513.2    7,426.6        4.2        5.2
II...................................................     -99.2     850.0      949.2   1,408.8     529.6     353.7     175.8    879.2    7,537.1    7,644.3    7,537.5        6.5        7.2
III..................................................    -120.2     844.3      964.5   1,414.8     525.5     348.8     176.7    889.3    7,579.6    7,736.5    7,598.9        3.8        4.9
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\1\Gross domestic product (GDP) less exports of goods and services plus imports of goods and services.
\2\GDP plus net receipts of factor income from rest of the world.

Source: Department of Commerce, Bureau of Economic Analysis.