[Economic Report of the President (1998)]
[Administration of William J. Clinton]
[Online through the Government Printing Office, www.gpo.gov]



NATIONAL INCOME OR EXPENDITURE


Table B-1.--Gross domestic product, 1959-97
[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..............................    6,558.1  4,459.2     530.2   1,370.7    2,558.4    876.2    855.7    604.1    176.4      427.7     251.6      20.5
1994..............................    6,947.0  4,717.0     579.5   1,428.4    2,709.1  1,007.9    946.6    660.6    184.5      476.1     286.0      61.2
1995..............................    7,265.4  4,957.7     608.5   1,475.8    2,873.4  1,038.2  1,008.1    723.0    200.6      522.4     285.1      30.1
1996..............................    7,636.0  5,207.6     634.5   1,534.7    3,038.4  1,116.5  1,090.7    781.4    215.2      566.2     309.2      25.9
1997 p............................    8,083.4  5,488.6     659.4   1,592.7    3,236.5  1,237.6  1,173.0    845.4    230.2      615.2     327.5      64.6

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       -.2
II..........................    6,201.2  4,183.0     481.3   1,308.4    2,393.3    790.7    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..........................    6,383.1  4,329.6     506.2   1,349.5    2,473.9    816.1    809.7    569.6    167.1      402.5     240.1       6.5

1993: I...........................    6,444.5  4,365.4     506.4   1,354.4    2,504.6    854.3    823.5    580.5    171.7      408.9     243.0      30.7
II..........................    6,509.1  4,428.1     524.2   1,366.3    2,537.6    857.4    842.9    598.8    175.2      423.6     244.1      14.5
III.........................    6,574.6  4,488.6     537.2   1,373.9    2,577.4    872.8    858.8    606.4    177.8      428.6     252.4      14.0
IV..........................    6,704.2  4,554.9     553.1   1,388.0    2,613.8    920.3    897.5    630.6    180.7      449.9     266.8      22.9

1994: I...........................    6,794.3  4,616.6     563.2   1,404.4    2,649.0    963.4    911.0    634.6    175.4      459.3     276.4      52.4
II..........................    6,911.4  4,680.5     572.4   1,416.0    2,692.2  1,017.9    941.7    652.9    185.2      467.7     288.7      76.3
III.........................    6,986.5  4,750.6     583.3   1,439.5    2,727.8  1,007.1    956.9    667.4    186.8      480.6     289.5      50.2
IV..........................    7,095.7  4,820.2     599.3   1,453.7    2,767.2  1,043.1    977.0    687.5    190.7      496.8     289.5      66.2

21995: I..........................    7,168.9  4,871.7     596.9   1,462.7    2,812.2  1,050.8    998.7    710.9    197.7      513.2     287.8      52.1
II..........................    7,209.5  4,934.8     602.8   1,472.4    2,859.6  1,024.0    999.6    722.5    201.1      521.4     277.1      24.5
III.........................    7,301.3  4,990.6     616.0   1,480.4    2,894.2  1,028.8  1,009.4    725.4    202.8      522.6     284.0      19.4
IV..........................    7,381.9  5,033.8     618.4   1,487.8    2,927.5  1,049.1  1,024.6    733.1    200.7      532.4     291.4      24.5

21996: I..........................    7,467.5  5,105.8     626.7   1,508.1    2,970.9  1,060.5  1,049.4    750.7    205.7      545.0     298.8      11.1
II..........................    7,607.7  5,189.1     638.6   1,532.3    3,018.2  1,105.4  1,082.0    769.3    210.6      558.7     312.7      23.4
III.........................    7,676.0  5,227.4     634.5   1,538.3    3,054.6  1,149.2  1,112.0    798.6    217.7      580.9     313.5      37.1
IV..........................    7,792.9  5,308.1     638.2   1,560.1    3,109.8  1,151.1  1,119.2    807.2    227.0      580.2     312.0      31.9

21997: I..........................    7,933.6  5,405.7     658.4   1,587.4    3,159.9  1,193.6  1,127.5    811.3    227.4      583.9     316.2      66.1
II..........................    8,034.3  5,432.1     644.5   1,578.9    3,208.7  1,242.0  1,160.8    836.3    226.8      609.5     324.6      81.1
III.........................    8,124.3  5,527.4     667.3   1,600.8    3,259.3  1,250.2  1,201.3    872.0    232.9      639.1     329.3      48.9
IV p........................    8,241.5  5,589.3     667.6   1,603.9    3,317.9  1,264.5  1,202.4    862.3    233.7      628.5     340.1      62.1
--------------------------------------------------------------------------------------------------------------------------------------------------------
See next page for continuation of table.


Table B-1.--Gross domestic product, 1959-97--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-     chases
fense                                                           uct       \1\
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1959.....................................................      -1.7      20.6       22.3     112.0      67.2      55.7      11.5     44.8      503.0      508.9      510.1        8.5        9.0

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.....................................................     -60.7     658.6      719.3   1,283.4     518.3     360.7     157.7    765.0    6,537.6    6,618.8    6,576.8        5.0        5.5
1994.....................................................     -90.9     721.2      812.1   1,313.0     510.2     349.2     161.0    802.8    6,885.7    7,037.9    6,955.2        5.9        6.3
1995.....................................................     -86.0     818.4      904.5   1,355.5     509.6     344.6     165.0    846.0    7,235.3    7,351.4    7,270.6        4.6        4.5
1996.....................................................     -94.8     870.9      965.7   1,406.7     520.0     352.8     167.3    886.7    7,610.2    7,730.9    7,637.7        5.1        5.2
1997 p...................................................     -96.7     958.8    1,055.5   1,453.9     524.8     350.8     174.0    929.1    8,018.8    8,180.1   .........       5.9        5.8

1992: I..................................................      -8.9     632.4      641.3   1,247.9     521.8     372.8     149.0    726.1    6,122.1    6,130.8    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        6.6
III................................................     -37.6     640.2      677.8   1,270.7     532.0     380.9     151.1    738.7    6,260.1    6,309.2    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    6,425.8    6,390.5        7.3        7.6

1993: I..................................................     -46.6     647.1      693.7   1,271.5     521.3     363.6     157.7    750.1    6,413.8    6,491.1    6,468.1        3.9        4.1
II.................................................     -57.5     661.2      718.7   1,281.2     517.8     361.7     156.1    763.4    6,494.7    6,566.7    6,525.3        4.1        4.7
III................................................     -72.1     646.8      718.9   1,285.3     515.7     358.0     157.7    769.6    6,560.6    6,646.7    6,596.9        4.1        5.0
IV.................................................     -66.6     679.4      746.0   1,295.5     518.5     359.4     159.1    777.0    6,681.3    6,770.8    6,717.1        8.1        7.7

1994: I..................................................     -76.6     678.5      755.1   1,291.0     506.9     344.9     162.0    784.1    6,741.9    6,870.9    6,811.2        5.5        6.0
II.................................................     -87.9     710.1      797.9   1,300.8     505.3     348.5     156.8    795.5    6,835.1    6,999.2    6,920.3        7.1        7.7
III................................................    -103.4     732.6      836.0   1,332.3     520.4     359.7     160.7    811.9    6,936.3    7,090.0    6,992.3        4.4        5.3
IV.................................................     -95.6     763.7      859.2   1,328.0     508.3     343.6     164.7    819.6    7,029.6    7,191.3    7,096.8        6.4        5.8

1995: I..................................................     -98.3     784.5      882.8   1,344.7     513.6     346.3     167.3    831.1    7,116.8    7,267.2    7,175.1        4.2        4.3
II.................................................    -105.4     807.7      913.1   1,356.0     511.2     348.1     163.0    844.8    7,185.0    7,314.8    7,220.6        2.3        2.6
III................................................     -80.4     831.6      912.0   1,362.2     512.9     347.3     165.5    849.3    7,281.8    7,381.7    7,298.3        5.2        3.7
IV.................................................     -60.1     849.9      909.9   1,359.2     500.6     336.5     164.1    858.6    7,357.4    7,442.0    7,388.5        4.5        3.3

1996: I..................................................     -83.0     850.2      933.2   1,384.2     516.4     348.4     168.0    867.8    7,456.4    7,550.5    7,475.3        4.7        6.0
II.................................................     -93.8     865.0      958.7   1,407.0     524.6     357.3     167.3    882.4    7,584.3    7,701.5    7,610.5        7.7        8.2
III................................................    -114.0     836.7      977.6   1,413.5     521.6     354.8     166.8    891.9    7,638.9    7,790.0    7,669.1        3.6        4.7
IV.................................................     -88.6     904.6      993.2   1,422.3     517.6     350.6     167.0    904.7    7,761.0    7,881.5    7,796.1        6.2        4.8

1997: I..................................................     -98.8     922.2    1,021.0   1,433.1     516.1     343.3     172.8    917.0    7,867.4    8,032.4    7,919.2        7.4        7.9
II.................................................     -88.7     960.3    1,049.0   1,449.0     526.1     350.6     175.5    923.0    7,953.2    8,123.1    8,013.6        5.2        4.6
III................................................    -111.3     965.8    1,077.1   1,457.9     525.7     352.1     173.6    932.3    8,075.3    8,235.6    8,103.5        4.6        5.7
IV p...............................................     -87.9     986.9    1,074.8   1,475.6     531.1     357.1     174.0    944.4    8,179.3    8,329.4   .........       5.9        4.6
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
\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.