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

[DOCID: f:erp_b30._]
Economic Report of the President - - - - - - - - - - - - H. Doc. 105-002
[From the online service of the U.S. Government Printing Office]
[wais.access.gpo.gov]



Table B-30.--Gross saving and investment, 1959-96
[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          Capi-
---------------------------------        ------------------------------------------------------------    tal
Year or  quarter                                                Corporate                               Current                       Current   grants
Total           Per-               Undis-     and non-                                                                      received
Total   sonal            trib- uted- corporate   Total          Consumption  surplus          Consumption  surplus    by the
saving  Total\1\     corpo-    consump-           Total    of  fixed     or     Total    of  fixed     or     United
rate      tion of                     capital    deficit            capital    deficit   States
profits\2\    fixed                                    (-)                           (-)   (net)\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.............   935.5   962.4   214.4    748.0      103.3       640.0    -26.9  -187.4       68.2     -255.6   160.5       65.6       94.9       0
1994.............  1,056.
3  1,006.
7   189.4    817.3      123.2       678.7     49.6  -119.6       70.6     -190.2   169.2       69.4       99.7       0
1995.............  1,151.
8  1,071.
8   249.3    822.5      140.6       679.2     80.0   -87.8       73.8     -161.7   167.9       72.9       95.0       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...........   908.7   981.0   197.4    783.6       85.7       633.8    -72.3  -217.2       67.3     -284.5   144.9       64.4       80.5       0
II...........   923.8   951.8   226.8    725.0       89.4       634.6    -28.0  -182.5       67.7     -250.2   154.5       65.3       89.1       0
III..........   937.5   962.4   202.9    759.5      110.1       648.4    -24.9  -185.7       68.6     -254.4   160.9       66.0       94.9       0
IV...........   972.1   954.6   230.5    724.1      128.2       643.3     17.5  -164.2       69.1     -233.3   181.7       66.7      115.0       0

1994:I...........  1,034.
3  1,013.
5   128.8    884.7       83.9       748.7     20.8  -143.2       69.5     -212.7   164.0       69.2       94.8       0
II...........  1,065.
4   991.3   202.2    789.1      132.7       652.7     74.1   -99.7       70.0     -169.6   173.7       68.5      105.2       0
III..........  1,054.
9  1,003.
8   206.2    797.6      137.2       656.7     51.1  -118.1       70.4     -188.5   169.2       69.6       99.6       0
IV...........  1,070.
7  1,018.
3   220.4    797.9      138.8       656.6     52.4  -117.4       72.7     -190.1   169.8       70.5       99.3       0

1995:I...........  1,115.
0  1,043.
8   254.2    789.6      121.0       664.6     71.2   -99.2       73.5     -172.6   170.4       71.4       99.0       0
II...........  1,102.
9  1,018.
5   218.5    800.0      123.5       673.6     84.4   -86.9       74.2     -161.1   171.3       72.3       99.0       0
III..........  1,168.
6  1,085.
9   241.9    844.0      159.6       681.8     82.7   -84.6       73.8     -158.5   167.3       73.4       93.9       0
IV...........  1,220.
6  1,138.
9   282.6    856.3      158.4       697.0     81.7   -80.7       73.8     -154.5   162.4       74.3       88.1       0

1996:I...........  1,217.
9  1,133.
8   265.4    868.4      171.8       694.7     84.1   -82.0       73.2     -155.2   166.1       75.1       91.0       0
II...........  1,244.
5  1,121.
6   241.1    880.5      176.3       704.2    122.9   -54.1       72.6     -126.7   177.0       76.0      101.0       0
III..........  1,314.
0  1,196.
1   299.1    897.0      182.5       714.6    117.8   -48.4       72.3     -120.8   166.3       77.1       89.2       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-30.--Gross saving and investment, 1959-96--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\4\  investment\5\               of gross  disposable
investment                                             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         58.0        14.3        4.5
1994.............................................................   1,090.4    1,014.4         212.3         -136.4         34.1        15.2        3.8
1995.............................................................   1,150.9    1,065.3         221.9         -136.3          -.9        15.9        4.7

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...........................................................     988.2      843.6         207.1          -62.6         79.5        14.1        4.2
II...........................................................     983.5      855.9         210.6          -83.0         59.8        14.2        4.8
III..........................................................     987.4      873.8         209.8          -96.2         49.8        14.2        4.2
IV...........................................................   1,014.8      911.2         214.7         -111.0         42.8        14.5        4.7

1994:I...........................................................   1,058.4      957.6         207.3         -106.5         24.1        15.3        2.7
II...........................................................   1,095.3    1,016.5         208.5         -129.7         30.0        15.5        4.0
III..........................................................   1,100.2    1,033.6         217.2         -150.6         45.3        15.1        4.1
IV...........................................................   1,107.6    1,050.1         216.3         -158.9         36.9        15.1        4.3

1995:I...........................................................   1,145.0    1,072.0         219.1         -146.2         30.0        15.6        4.9
II...........................................................   1,123.2    1,050.3         223.7         -150.8         20.3        15.3        4.1
III..........................................................   1,161.5    1,074.8         224.7         -138.1         -7.1        16.0        4.5
IV...........................................................   1,173.9    1,064.0         220.1         -110.2        -46.7        16.6        5.2

1996:I...........................................................   1,167.9    1,068.9         228.8         -129.9        -50.0        16.4        4.8
II...........................................................   1,187.0    1,096.0         235.1         -144.2        -57.5        16.5        4.3
III..........................................................   1,215.9    1,156.2         234.2         -174.6        -98.1        17.3       5.3
--------------------------------------------------------------------------------------------------------------------------------------------------------
\4\For details on government investment, see Table B-18.
\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-22.
\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.