[Economic Report of the President (1999)]
[Administration of William J. Clinton]
[Online through the Government Printing Office, www.gpo.gov]



NATIONAL INCOME OR EXPENDITURE


[[Page 344]]


Table B-14.--Gross domestic product of nonfinancial corporate business, 1959-98
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Net domestic product
--------------------------------------------------------------------------------------------------------------------------
Gross                                                                           Domestic income
domes-                              ------------------------------------------------------------------------------------------------------
tic      Con-                                              Corporate profits with inventory valuation and capital  consumption
product    sump-                                                                         adjustments
of  non-   tion               Indi-                      ---------------------------------------------------------------------------
Year or  quarter                   financial    of                rect                Com-                                 Profits
corpo-    fixed    Total     busi-              pensa-           ------------------------------------------------  Inven-  Capital    Net
rate     cap-               ness      Total   tion  of                                    Profits after tax        tory     con-   inter-
busi-     ital             taxes\1\             employ-   Total   Profits   Profits  ----------------------------  valu-    sump-     est
ness                                             ees              before     tax                        Undis-    ation     tion
tax   liability   Total    Divi-   tributed  adjust-  adjust-
dends    profits    ment     ment
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1959..............................................     267.5     23.6     243.8     26.0      217.8     171.5     43.2     43.6      20.7      22.9     10.0      12.9     -0.3     -0.1     3.1

1960..............................................     278.1     24.5     253.6     28.3      225.3     181.2     40.7     40.3      19.2      21.1     10.6      10.6      -.2       .5     3.5
1961..............................................     285.5     25.1     260.5     29.5      230.9     185.3     41.6     40.1      19.5      20.7     10.6      10.1       .3      1.2     4.0
1962..............................................     311.7     26.0     285.7     32.0      253.7     200.1     49.1     45.0      20.6      24.3     11.4      13.0       .0      4.1     4.5
1963..............................................     331.8     27.0     304.8     34.0      270.8     211.1     54.9     49.8      22.8      27.0     12.6      14.4       .1      5.0     4.8
1964..............................................     358.1     28.4     329.8     36.6      293.2     226.7     61.2     56.0      24.0      32.1     13.7      18.4      -.5      5.7     5.3
1965..............................................     393.5     30.3     363.2     39.2      324.0     246.5     71.4     66.2      27.2      39.0     15.6      23.4     -1.2      6.5     6.1
1966..............................................     431.0     33.2     397.8     40.5      357.4     274.0     76.1     71.4      29.5      41.9     16.8      25.1     -2.1      6.8     7.4
1967..............................................     453.4     36.3     417.2     43.1      374.1     292.3     73.0     67.5      27.8      39.7     17.5      22.2     -1.6      7.0     8.8
1968..............................................     500.5     39.9     460.5     49.7      410.8     323.2     77.5     74.0      33.6      40.4     19.1      21.3     -3.7      7.1    10.1
1969..............................................     543.3     44.1     499.2     54.7      444.5     358.8     72.5     70.8      33.3      37.5     19.1      18.4     -5.9      7.5    13.2

1970..............................................     561.4     48.5     512.8     58.8      454.0     378.7     58.3     58.1      27.2      31.0     18.5      12.5     -6.6      6.7    17.1
1971..............................................     606.4     53.0     553.4     64.5      488.9     402.0     68.8     67.1      29.9      37.1     18.5      18.7     -4.6      6.3    18.1
1972..............................................     673.3     57.6     615.8     69.2      546.6     447.1     80.4     78.6      33.8      44.8     20.1      24.7     -6.6      8.4    19.2
1973..............................................     754.5     62.6     691.8     76.3      615.5     505.9     87.1     98.6      40.2      58.4     21.1      37.3    -20.0      8.6    22.5
1974..............................................     814.6     73.3     741.3     81.4      659.9     556.8     74.8    109.2      42.2      67.0     21.7      45.2    -39.5      5.1    28.3
1975..............................................     881.2     87.5     793.7     87.4      706.3     580.3     97.3    109.9      41.5      68.4     24.8      43.6    -11.0     -1.6    28.7
1976..............................................     995.3     96.9     898.4     95.1      803.3     657.4    118.4    137.3      53.0      84.4     28.0      56.3    -14.9     -4.0    27.5
1977..............................................   1,125.4    108.8   1,016.7    104.1      912.6     742.6    139.4    158.6      59.9      98.7     31.5      67.2    -16.6     -2.6    30.6
1978..............................................   1,284.1    124.4   1,159.7    116.4    1,043.2     852.9    154.0    183.5      67.1     116.4     36.4      80.0    -25.0     -4.5    36.3
1979..............................................   1,429.7    143.9   1,285.8    125.4    1,160.4     968.1    147.2    195.5      69.6     125.9     38.1      87.9    -41.6     -6.8    45.1

1980..............................................   1,553.8    165.4   1,388.4    141.6    1,246.8   1,058.5    130.1    181.6      67.0     114.6     45.3      69.2    -43.0     -8.4    58.2
1981..............................................   1,767.3    193.2   1,574.1    170.4    1,403.7   1,171.5    160.3    181.4      63.9     117.5     53.3      64.2    -25.7      4.6    71.9
1982..............................................   1,823.4    209.7   1,613.7    172.1    1,441.6   1,217.0    142.1    133.7      46.3      87.4     53.3      34.2     -9.9     18.3    82.5
1983..............................................   1,950.3    222.7   1,727.6    189.0    1,538.6   1,280.5    181.5    157.4      59.4      97.9     64.2      33.8     -9.1     33.2    76.6
1984..............................................   2,187.5    228.7   1,958.8    210.2    1,748.6   1,421.7    239.0    191.0      73.7     117.3     67.8      49.5     -5.6     53.7    87.8
1985..............................................   2,319.3    238.9   2,080.4    224.4    1,856.0   1,521.9    243.5    167.6      69.9      97.6     72.3      25.4       .5     75.4    90.6
1986..............................................   2,416.3    253.2   2,163.1    235.8    1,927.3   1,603.2    226.0    151.5      75.6      75.9     73.9       2.1     11.4     63.1    98.1
1987..............................................   2,589.6    263.6   2,326.1    246.7    2,079.3   1,715.5    258.6    214.9      93.5     121.4     75.9      45.5    -20.7     64.4   105.3
1988..............................................   2,805.2    279.7   2,525.5    263.5    2,262.0   1,846.7    294.3    260.6     101.7     158.8     79.4      79.4    -29.3     63.1   121.0
1989..............................................   2,950.9    297.4   2,653.5    280.8    2,372.7   1,950.0    276.7    237.0      98.8     138.3    103.5      34.8    -17.5     57.2   145.9

1990..............................................   3,084.0    308.4   2,775.6    296.8    2,478.8   2,056.0    275.3    237.3      95.7     141.6    118.4      23.3    -13.5     51.5   147.5
1991..............................................   3,132.1    320.2   2,811.9    318.0    2,493.9   2,090.6    269.7    218.1      85.4     132.8    124.6       8.2      4.0     47.6   133.7
1992..............................................   3,262.6    330.5   2,932.2    337.0    2,595.1   2,195.3    295.6    257.8      91.1     166.7    133.6      33.1     -7.5     45.3   104.2
1993..............................................   3,430.4    340.3   3,090.1    358.5    2,731.6   2,290.7    346.4    308.6     105.0     203.6    147.7      55.9     -8.5     46.3    94.5
1994..............................................   3,709.7    360.7   3,349.0    389.0    2,960.1   2,426.7    437.1    392.3     128.8     263.5    158.6     104.9    -16.1     60.8    96.3
1995..............................................   3,920.4    375.6   3,544.8    397.3    3,147.5   2,556.0    487.4    441.5     136.7     304.7    179.3     125.4    -22.6     68.5   104.2
1996..............................................   4,134.4    393.4   3,741.0    411.6    3,329.4   2,679.7    548.5    473.1     151.5     321.5    217.1     104.4     -1.2     76.7   101.2
1997..............................................   4,414.5    415.4   3,999.1    436.8    3,562.3   2,871.2    594.2    505.4     169.8     335.6    229.3     106.3      6.9     81.9    96.9

1993:I............................................   3,351.8    335.8   3,015.9    348.2    2,667.7   2,253.5    316.0    275.6      92.5     183.1    143.5      39.6    -12.5     52.9    98.2
II............................................   3,400.3    337.3   3,063.0    353.8    2,709.2   2,279.9    334.4    306.9     104.7     202.2    144.2      58.0    -17.1     44.5    95.0
III...........................................   3,444.3    344.5   3,099.8    359.7    2,740.1   2,301.5    345.5    303.1     102.9     200.2    147.6      52.5       .2     42.2    93.1
IV............................................   3,525.2    343.4   3,181.9    372.3    2,809.6   2,327.8    389.9    349.0     120.0     228.9    155.6      73.4     -4.8     45.7    91.9

1994:I............................................   3,624.5    375.1   3,249.3    380.4    2,868.9   2,372.5    405.4    359.1     119.5     239.6    150.4      89.2     -4.3     50.6    91.1
II............................................   3,668.9    351.6   3,317.3    386.1    2,931.1   2,409.8    427.0    380.7     124.6     256.1    158.7      97.4    -15.1     61.4    94.3
III...........................................   3,729.1    355.9   3,373.2    392.3    2,980.9   2,439.2    444.1    400.7     130.1     270.6    158.5     112.1    -21.2     64.6    97.6
IV............................................   3,816.4    360.0   3,456.4    397.1    3,059.2   2,485.2    472.0    428.9     141.1     287.8    166.8     121.0    -23.6     66.7   102.1

1995:I............................................   3,844.1    365.6   3,478.5    396.1    3,082.4   2,519.5    460.0    431.5     134.6     296.9    169.0     127.9    -37.9     66.3   103.0
II............................................   3,879.3    372.6   3,506.7    397.0    3,109.7   2,539.5    466.2    432.1     132.8     299.2    171.2     128.0    -33.9     68.1   104.0
III...........................................   3,956.5    378.1   3,578.3    396.0    3,182.3   2,569.6    508.3    451.4     139.3     312.0    184.5     127.6    -13.4     70.3   104.5
IV............................................   4,001.7    385.9   3,615.8    400.2    3,215.6   2,595.3    515.0    450.9     140.3     310.7    192.7     118.0     -5.3     69.5   105.3

1996:I............................................   4,033.0    385.8   3,647.2    405.3    3,241.9   2,607.1    533.0    460.8     146.8     314.0    208.4     105.5     -2.9     75.1   101.9
II............................................   4,106.4    390.6   3,715.8    409.1    3,306.7   2,661.8    543.4    473.3     151.3     321.9    210.4     111.5     -6.2     76.3   101.6
III...........................................   4,168.9    395.9   3,773.1    412.7    3,360.4   2,704.3    554.9    476.5     152.5     324.0    222.2     101.8      1.2     77.2   101.2
IV............................................   4,229.3    401.3   3,828.0    419.5    3,408.5   2,745.7    562.8    481.8     155.5     326.3    227.3      99.0      3.0     78.0   100.0

1997:I............................................   4,307.1    406.5   3,900.6    425.6    3,475.0   2,799.1    575.4    488.3     164.4     323.9    227.0      96.8      8.1     79.1   100.6
II............................................   4,375.7    412.2   3,963.5    434.5    3,529.0   2,843.4    586.7    495.6     166.4     329.2    224.6     104.6     10.3     80.7    99.0
III...........................................   4,461.9    418.4   4,043.4    442.1    3,601.4   2,889.8    615.2    528.0     178.1     349.9    226.1     123.8      4.8     82.5    96.3
IV............................................   4,513.2    424.4   4,088.8    445.0    3,643.8   2,952.6    599.3    509.8     170.1     339.6    239.6     100.1      4.3     85.3    91.9

1998:I............................................   4,574.2    428.5   4,145.7    450.5    3,695.2   3,002.3    599.3    484.2     159.7     324.5    237.3      87.2     25.3     89.8    93.6
II............................................   4,618.8    433.1   4,185.7    454.2    3,731.4   3,043.1    593.2    491.8     162.1     329.6    254.3      75.3      7.8     93.7    95.2
III...........................................   4,688.9    437.4   4,251.4    461.1    3,790.3   3,086.3    607.5    497.3     163.8     333.5    247.3      86.2     11.7     98.5   96.5
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\1\Indirect business tax and nontax liability plus business transfer payments less subsidies.

Source: Department of Commerce, Bureau of Economic Analysis.