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



Table B-2.--Real gross domestic product, 1959-97
[Billions of chained (1992) dollars, except as noted; quarterly data at seasonally adjusted annual rates]
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Personal consumption expenditures                         Gross private domestic investment
-------------------------------------------------------------------------------------------------------------------
Fixed investment
-------------------------------------------------------
Gross                                                                        Nonresidential                        Change
Year or  quarter                           domestic                         Non-                                 --------------------------------              in  busi-
product    Total    Durable   durable   Services    Total                                     Pro-                    ness
goods     goods                          Total                          ducers'  Residential   inven-
Total   Structures   durable                tories
equip-
ment
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1959..............................................................   2,210.2   1,394.6  ........  .........  ........     271.7  ........  ........  ..........  ........  ...........      13.2

1960..............................................................   2,262.9   1,432.6  ........  .........  ........     270.5  ........  ........  ..........  ........  ...........      10.5
1961..............................................................   2,314.3   1,461.5  ........  .........  ........     267.6  ........  ........  ..........  ........  ...........       8.6
1962..............................................................   2,454.8   1,533.8  ........  .........  ........     302.1  ........  ........  ..........  ........  ...........      19.5
1963..............................................................   2,559.4   1,596.6  ........  .........  ........     321.6  ........  ........  ..........  ........  ...........      17.8
1964..............................................................   2,708.4   1,692.3  ........  .........  ........     348.3  ........  ........  ..........  ........  ...........      15.6
1965..............................................................   2,881.1   1,799.1  ........  .........  ........     397.2  ........  ........  ..........  ........  ...........      30.3
1966..............................................................   3,069.2   1,902.0  ........  .........  ........     430.6  ........  ........  ..........  ........  ...........      42.4
1967..............................................................   3,147.2   1,958.6  ........  .........  ........     411.8  ........  ........  ..........  ........  ...........      32.0
1968..............................................................   3,293.9   2,070.2  ........  .........  ........     433.3  ........  ........  ..........  ........  ...........      26.9
1969..............................................................   3,393.6   2,147.5  ........  .........  ........     458.3  ........  ........  ..........  ........  ...........      27.0

1970..............................................................   3,397.6   2,197.8  ........  .........  ........     426.1  ........  ........  ..........  ........  ...........       5.4
1971..............................................................   3,510.0   2,279.5  ........  .........  ........     474.9  ........  ........  ..........  ........  ...........      22.3
1972..............................................................   3,702.3   2,415.9  ........  .........  ........     531.8  ........  ........  ..........  ........  ...........      24.7
1973..............................................................   3,916.3   2,532.6  ........  .........  ........     595.5  ........  ........  ..........  ........  ...........      37.7
1974..............................................................   3,891.2   2,514.7  ........  .........  ........     546.5  ........  ........  ..........  ........  ...........      23.4
1975..............................................................   3,873.9   2,570.0  ........  .........  ........     446.6  ........  ........  ..........  ........  ...........     -10.2
1976..............................................................   4,082.9   2,714.3  ........  .........  ........     537.4  ........  ........  ..........  ........  ...........      29.8
1977..............................................................   4,273.6   2,829.8  ........  .........  ........     622.1  ........  ........  ..........  ........  ...........      38.8
1978..............................................................   4,503.0   2,951.6  ........  .........  ........     693.4  ........  ........  ..........  ........  ...........      43.3
1979..............................................................   4,630.6   3,020.2  ........  .........  ........     709.7  ........  ........  ..........  ........  ...........      23.4

1980..............................................................   4,615.0   3,009.7  ........  .........  ........     628.3  ........  ........  ..........  ........  ...........     -10.2
1981..............................................................   4,720.7   3,046.4  ........  .........  ........     686.0  ........  ........  ..........  ........  ...........      33.1
1982..............................................................   4,620.3   3,081.5     285.5    1,080.6   1,728.2     587.2     610.4     464.3      207.2      260.3      140.1       -15.6
1983..............................................................   4,803.7   3,240.6     327.4    1,112.4   1,809.0     642.1     654.2     456.4      185.7      272.4      197.6        -5.7
1984..............................................................   5,140.1   3,407.6     374.9    1,151.8   1,883.0     833.4     762.4     535.4      212.2      324.6      226.4        75.3
1985..............................................................   5,323.5   3,566.5     411.4    1,178.3   1,977.3     823.8     799.3     568.4      227.8      342.4      229.5        30.2
1986..............................................................   5,487.7   3,708.7     448.4    1,215.9   2,041.4     811.8     805.0     548.5      203.3      345.9      257.0        11.1
1987..............................................................   5,649.5   3,822.3     454.9    1,239.3   2,126.9     821.5     799.4     542.4      195.9      346.9      257.6        26.4
1988..............................................................   5,865.2   3,972.7     483.5    1,274.4   2,212.4     828.2     818.3     566.0      196.8      369.2      252.5        11.7
1989..............................................................   6,062.0   4,064.6     496.2    1,303.5   2,262.3     863.5     832.0     588.8      201.2      387.6      243.2        33.3

1990..............................................................   6,136.3   4,132.2     493.3    1,316.1   2,321.3     815.0     805.8     585.2      203.3      381.9      220.6        10.4
1991..............................................................   6,079.4   4,105.8     462.0    1,302.9   2,341.0     738.1     741.3     547.7      181.6      366.2      193.4        -3.0
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..............................................................   6,389.6   4,343.6     523.8    1,351.0   2,468.9     863.6     842.8     600.2      170.8      429.6      242.6        22.1
1994..............................................................   6,610.7   4,486.0     561.2    1,389.9   2,535.5     975.7     915.5     648.4      172.5      476.8      267.0        60.6
1995..............................................................   6,742.1   4,595.3     583.6    1,412.6   2,599.6     991.5     962.1     706.5      179.9      528.3      257.0        27.3
1996..............................................................   6,928.4   4,714.1     611.1    1,432.3   2,671.0   1,069.1   1,041.7     771.7      188.7      586.0      272.1        25.0
1997 p............................................................   7,191.4   4,869.7     645.8    1,459.3   2,765.2   1,192.2   1,122.3     846.7      195.4      657.4      279.7        62.2

1992: I...........................................................   6,175.7   4,173.8     476.1    1,314.4   2,383.2     758.2     758.3     544.4      172.7      371.7      213.9         -.5
II..........................................................   6,214.2   4,196.4     481.1    1,312.0   2,403.2     792.8     782.4     557.5      171.0      386.4      224.9        11.0
III.........................................................   6,260.7   4,226.7     491.9    1,321.1   2,413.6     798.5     787.3     560.6      167.4      393.1      226.7        12.0
IV..........................................................   6,327.1   4,282.3     505.0    1,339.8   2,437.6     812.2     805.8     569.1      165.6      403.5      236.7         5.6

1993: I...........................................................   6,327.9   4,286.8     504.0    1,337.5   2,445.3     845.5     814.8     577.8      168.0      409.8      237.0        32.3
II..........................................................   6,359.9   4,322.8     519.3    1,347.8   2,455.9     846.1     831.1     595.1      170.3      424.9      236.1        16.6
III.........................................................   6,393.5   4,366.6     529.9    1,356.8   2,480.0     858.6     844.5     602.3      171.7      430.7      242.2        15.3
IV..........................................................   6,476.9   4,398.0     542.1    1,361.8   2,494.4     904.0     880.8     625.6      173.1      452.9      255.1        24.2

1994: I...........................................................   6,524.5   4,439.4     550.7    1,378.4   2,510.9     939.9     887.8     626.2      166.3      460.6      261.3        53.1
II..........................................................   6,600.3   4,472.2     555.8    1,385.5   2,531.4     987.8     913.2     641.2      174.5      467.3      271.5        75.9
III.........................................................   6,629.5   4,498.2     561.7    1,393.2   2,543.8     972.2     922.7     653.2      174.0      480.0      269.4        49.7
IV..........................................................   6,688.6   4,534.1     576.6    1,402.5   2,555.9   1,003.0     938.5     672.9      175.0      499.1      265.9        63.6

1995: I...........................................................   6,703.7   4,551.3     572.2    1,408.4   2,571.2   1,005.8     955.8     695.7      179.0      518.1      261.2        48.5
II..........................................................   6,708.8   4,583.5     577.7    1,411.6   2,594.5     977.5     954.0     705.4      180.9      525.9      250.4        21.6
III.........................................................   6,759.2   4,612.9     590.8    1,413.9   2,608.7     982.0     962.3     708.2      181.2      528.5      255.5        17.0
IV..........................................................   6,796.5   4,633.5     593.7    1,416.3   2,623.8   1,000.8     976.3     716.8      178.6      540.5      260.8        22.2

1996: I...........................................................   6,826.4   4,669.4     600.7    1,422.5   2,646.5   1,012.2   1,001.5     736.9      182.1      557.4      266.1         8.0
II..........................................................   6,926.0   4,712.2     614.8    1,431.6   2,666.5   1,059.2   1,035.7     759.7      185.6      577.1      277.2        21.3
III.........................................................   6,943.8   4,718.2     611.9    1,433.9   2,672.8   1,100.3   1,060.9     789.3      190.0      602.9      274.1        37.9
IV..........................................................   7,017.4   4,756.4     617.1    1,441.2   2,698.2   1,104.8   1,068.7     800.8      196.9      606.7      271.1        32.9

1997: I...........................................................   7,101.6   4,818.1     637.8    1,457.8   2,723.9   1,149.2   1,079.0     808.9      195.9      616.6      273.3        63.7
II..........................................................   7,159.6   4,829.4     629.0    1,450.0   2,749.8   1,197.1   1,111.4     837.0      193.5      649.3      278.2        77.6
III.........................................................   7,214.0   4,896.2     656.1    1,465.5   2,776.1   1,204.6   1,149.3     874.5      196.7      685.3      280.1        47.5
IV p........................................................   7,290.3   4,935.0     660.3    1,464.1   2,811.0   1,217.9   1,149.6     866.5      195.3      678.5      287.1        59.9
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See next page for continuation of table.


Table B-2.--Real gross domestic product, 1959-97--Continued
[Billions of chained (1992) dollars, except as noted; quarterly data at seasonally adjusted annual rates]
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Net exports of goods  and     Government consumption expenditures and gross                                      Percent change
services                               investment                                                        from preceding
--------------------------------------------------------------------------------  Final     Gross      Adden-           period
Federal                       sales     domes-      dum:    --------------------
Year or  quarter                                                              -------------------------------             of    tic  pur-     Gross      Gross     Gross
Net                                                                  State    domes-    chases    national    domes-     domes-
exports   Exports   Imports    Total              Nation-   Non-  de-   and      tic       \1\     prod-  uct     tic    tic  pur-
Total    al  de-      fense   local   product                 \2\       prod-     chases
fense                                                          uct       \1\
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1959.......................................................  ........      71.9     106.6     618.5  ........  .........  ........  .......  2,206.9   2,268.0     2,222.0        7.4       7.8

1960.......................................................  ........      86.8     108.1     617.2  ........  .........  ........  .......  2,264.2   2.304.1     2,276.0        2.4       1.6
1961.......................................................  ........      88.3     107.3     647.2  ........  .........  ........  .......  2,318.0   2,354.3     2,329.1        2.3       2.2
1962.......................................................  ........      93.0     119.5     686.0  ........  .........  ........  .......  2,445.4   2,503.0     2,471.5        6.1       6.3
1963.......................................................  ........     100.0     122.7     701.9  ........  .........  ........  .......  2,552.4   2,604.2     2,577.3        4.3       4.0
1964.......................................................  ........     113.3     129.2     715.9  ........  .........  ........  .......  2,705.1   2,745.9     2,727.8        5.8       5.4
1965.......................................................  ........     115.6     143.0     737.6  ........  .........  ........  .......  2,860.4   2,932.1     2,901.4        6.4       6.8
1966.......................................................  ........     123.4     164.2     804.6  ........  .........  ........  .......  3,033.5   3,134.0     3,087.8        6.5       6.9
1967.......................................................  ........     126.1     176.2     865.6  ........  .........  ........  .......  3,125.1   3,221.1     3,166.4        2.5       2.8
1968.......................................................  ........     135.3     202.5     892.4  ........  .........  ........  .......  3,278.0   3,382.7     3,314.5        4.7       5.0
1969.......................................................  ........     142.7     214.0     887.5  ........  .........  ........  .......  3,377.2   3,485.6     3,413.3        3.0       3.0

1970.......................................................  ........     158.1     223.1     866.8  ........  .........  ........  .......  3,406.5   3,478.5     3,417.1         .1       -.2
1971.......................................................  ........     159.2     235.0     851.0  ........  .........  ........  .......  3,499.8   3,602.4     3,532.1        3.3       3.6
1972.......................................................  ........     172.0     261.0     854.1  ........  .........  ........  .......  3,689.5   3,806.2     3,726.3        5.5       5.7
1973.......................................................  ........     209.6     272.6     848.4  ........  .........  ........  .......  3,883.9   3,989.3     3,950.1        5.8       4.8
1974.......................................................  ........     229.8     265.3     862.9  ........  .........  ........  .......  3,873.4   3,928.6     3,930.2        -.6      -1.5
1975.......................................................  ........     228.2     235.4     876.3  ........  .........  ........  .......  3,906.4   3,875.9     3,903.3        -.4      -1.3
1976.......................................................  ........     241.6     281.5     876.8  ........  .........  ........  .......  4,061.7   4,124.6     4,118.8        5.4       6.4
1977.......................................................  ........     247.4     311.6     884.7  ........  .........  ........  .......  4,240.8   4,345.7     4,314.5        4.7       5.4
1978.......................................................  ........     273.1     338.6     910.6  ........  .........  ........  .......  4,464.4   4,574.9     4,543.7        5.4       5.3
1979.......................................................  ........     299.0     344.3     924.9  ........  .........  ........  .......  4,614.4   4,674.6     4,687.4        2.8       2.2

1980.......................................................  ........     331.4     321.3     941.4  ........  .........  ........  .......  4,641.9   4,581.5     4,670.8        -.3      -2.0
1981.......................................................  ........     335.3     329.7     947.7  ........  .........  ........  .......  4,691.6   4,693.1     4,769.9        2.3       2.4
1982.......................................................     -14.1     311.4     325.5     960.1     429.4      316.5     113.3   531.4   4,651.2   4,619.3     4,662.0       -2.1      -1.6
1983.......................................................     -63.3     303.3     366.6     987.3     452.7      334.6     118.5   534.9   4,821.2   4,864.3     4,844.8        4.0       5.3
1984.......................................................    -127.3     328.4     455.7   1,018.4     463.7      348.1     115.9   555.0   5,061.6   5,276.2     5,178.0        7.0       8.5
1985.......................................................    -147.9     337.3     485.2   1,080.1     495.6      374.1     121.8   584.7   5,296.9   5,482.8     5,346.7        3.6       3.9
1986.......................................................    -163.9     362.2     526.1   1,135.0     518.4      393.4     125.2   616.9   5,480.9   5,663.9     5,501.2        3.1       3.3
1987.......................................................    -156.2     402.0     558.2   1,165.9     534.4      409.2     125.3   631.8   5,626.0   5,816.7     5,658.2        2.9       2.7
1988.......................................................    -114.4     465.8     580.2   1,180.9     524.6      405.5     119.1   656.6   5,855.1   5,986.1     5,878.5        3.8       2.9
1989.......................................................     -82.7     520.2     603.0   1,213.9     531.5      401.6     130.1   682.6   6,028.7   6,147.8     6,075.7        3.4       2.7

1990.......................................................     -61.9     564.4     626.3   1,250.4     541.9      401.5     140.5   708.6   6,126.7   6,199.8     6,157.0        1.2        .8
1991.......................................................     -22.3     599.9     622.2   1,258.0     539.4      397.5     142.0   718.7   6,082.6   6,101.6     6,094.9        -.9      -1.6
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        2.7       2.8
1993.......................................................     -70.2     658.2     728.4   1,252.1     505.7      354.4     151.2   746.4   6,368.9   6,459.0     6,408.0        2.3       2.9
1994.......................................................    -104.6     712.4     817.0   1,252.3     486.6      336.9     149.5   765.7   6,551.2   6,712.7     6,619.1        3.5       3.9
1995.......................................................     -98.8     791.2     890.1   1,251.9     470.3      322.6     147.5   781.6   6,712.7   6,837.5     6,748.7        2.0       1.9
1996.......................................................    -114.4     857.0     971.5   1,257.9     464.2      317.8     146.1   793.7   6,901.0   7,037.7     6,932.0        2.8       2.9
1997 p.....................................................    -142.1     964.4   1,106.5   1,270.6     457.8      309.0     148.3   812.9   7,124.2   7,323.4   ..........       3.8       4.1

1992: I....................................................     -14.8     633.0     647.8   1,258.5     525.1      374.2     150.8   733.5   6,175.8   6,190.3     6,192.0        4.7       4.5
II...................................................     -32.5     635.8     668.3   1,257.5     523.3      373.3     150.0   734.2   6,203.8   6,246.9     6,225.2        2.5       3.7
III..................................................     -30.8     639.7     670.5   1,266.5     529.6      378.7     150.9   736.9   6,249.5   6,291.7     6,270.3        3.0       2.9
IV...................................................     -40.0     649.1     689.1   1,272.5     534.0      376.8     157.1   738.5   6,320.7   6,367.0     6,334.6        4.3       4.9

1993: I....................................................     -54.7     647.2     701.9   1,250.1     512.1      359.2     152.9   738.0   6,297.3   6,382.3     6,351.3         .1       1.0
II...................................................     -62.6     660.1     722.7   1,253.1     507.8      356.7     151.1   745.3   6,344.9   6,422.0     6,375.9        2.0       2.5
III..................................................     -83.1     646.3     729.4   1,250.5     501.5      351.1     150.3   749.1   6,379.3   6,475.6     6,415.3        2.1       3.4
IV...................................................     -80.5     679.1     759.7   1,254.7     501.3      350.8     150.4   753.4   6,453.8   6,556.2     6,489.7        5.3       5.1

1994: I....................................................     -97.6     676.0     773.6   1,241.9     487.2      335.1     151.9   754.7   6,473.0   6,620.2     6,540.5        3.0       4.0
II...................................................    -103.9     704.1     808.0   1,243.3     481.2      335.9     145.1   762.2   6,526.7   6,701.8     6,609.3        4.7       5.0
III..................................................    -111.1     722.1     833.2   1,268.1     496.4      347.0     149.4   771.7   6,580.4   6,737.5     6,635.6        1.8       2.1
IV...................................................    -105.9     747.3     853.2   1,255.8     481.7      329.6     151.7   774.1   6,624.8   6,791.3     6,691.2        3.6       3.2

1995: I....................................................    -113.5     760.4     873.9   1,257.7     480.4      328.7     151.4   777.3   6,654.3   6,813.2     6,711.3         .9       1.3
II...................................................    -112.8     777.4     890.3   1,257.3     474.9      327.4     147.3   782.3   6,685.3   6,817.3     6,721.0         .3        .2
III..................................................     -92.9     802.4     895.4   1,255.0     473.4      324.0     149.1   781.5   6,739.3   6,848.9     6,758.3        3.0       1.9
IV...................................................     -76.1     824.6     900.7   1,237.7     452.6      310.3     142.1   785.1   6,771.9   6,870.4     6,804.2        2.2       1.3

1996: I....................................................    -100.8     828.2     929.0   1,243.2     460.9      314.9     145.7   782.4   6,815.0   6,923.2     6,834.7        1.8       3.1
II...................................................    -112.6     847.4     960.0   1,265.1     470.7      323.2     147.2   794.4   6,902.3   7,033.6     6,930.1        6.0       6.5
III..................................................    -138.9     851.4     990.2   1,261.5     465.7      319.4     146.0   795.9   6,905.0   7,075.3     6,940.2        1.0       2.4
IV...................................................    -105.6     901.1   1,006.6   1,261.8     459.6      313.6     145.7   802.3   6,981.7   7,118.4     7,023.1        4.3       2.5

1997: I....................................................    -126.3     922.7   1,048.9   1,260.5     452.8      303.9     148.5   807.7   7,034.1   7,220.9     7,091.8        4.9       5.9
II...................................................    -136.6     962.5   1,099.1   1,270.1     460.1      309.4     150.2   810.1   7,077.7   7,286.9     7,144.4        3.3       3.7
III..................................................    -164.1     973.0   1,137.1   1,273.4     458.8      310.3     148.0   814.7   7,160.3   7,364.6     7,198.8        3.1       4.3
IV .       4.3       3.1
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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.