[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 352]]


Table B-22.--Inventories and final sales of domestic business, 1959-98
[Billions of dollars, except as noted; seasonally adjusted]
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Inventories\1\                                          Ratioofinventories
-----------------------------------------------------------------------    Final     to final sales of
Nonfarm                       sales of    domestic business
Quarter                                          --------------------------------------------------  domestic  --------------------
Total\2\    Farm                          Whole-                         busi-
Total\2\    Manu-      sale   Retail     Other     ness\3\     Total     Nonfarm
facturing   trade    trade
--------------------------------------------------------------------------------------------------------------------------------------------------------
Fourth quarter:
1959..........................................      130.7      31.8       98.9      51.6     18.3      20.0       9.0       36.5        3.58      2.71

1960..........................................      134.4      32.6      101.8      52.8     18.6      21.4       8.9       37.7        3.57      2.70
1961..........................................      137.6      34.2      103.4      54.3     19.1      20.9       9.2       39.5        3.48      2.62
1962..........................................      145.2      36.2      109.0      57.6     19.9      22.3       9.2       41.8        3.47      2.61
1963..........................................      147.6      33.3      114.4      59.6     21.3      23.6       9.8       44.5        3.32      2.57
1964..........................................      153.3      31.9      121.4      63.2     22.7      24.9      10.6       47.4        3.23      2.56
1965..........................................      168.1      36.2      131.9      68.2     24.3      27.7      11.7       52.5        3.20      2.51
1966..........................................      185.5      36.8      148.6      78.3     27.7      30.1      12.5       55.6        3.33      2.67
1967..........................................      197.7      36.3      161.4      85.2     29.9      31.1      15.3       59.2        3.34      2.73
1968..........................................      213.2      39.5      173.8      91.4     31.7      34.4      16.3       65.1        3.28      2.67
1969..........................................      232.7      42.7      189.9      99.0     35.2      37.7      18.1       69.1        3.37      2.75

1970..........................................      240.9      41.2      199.7     102.8     39.0      38.7      19.3       72.9        3.31      2.74
1971..........................................      259.7      48.2      211.5     103.5     42.1      44.9      20.9       79.4        3.27      2.66
1972..........................................      287.8      58.9      228.8     109.4     46.0      50.0      23.4       88.5        3.25      2.59
1973..........................................      343.1      75.3      267.8     125.1     54.8      58.7      29.2       97.5        3.52      2.75
1974..........................................      396.3      66.0      330.3     158.2     69.8      64.2      38.0      105.4        3.76      3.13
1975..........................................      408.3      70.0      338.4     164.5     69.3      64.7      39.8      118.0        3.46      2.87
1976..........................................      441.7      66.6      375.1     181.1     77.2      73.3      43.5      129.7        3.40      2.89
1977..........................................      492.8      71.9      421.0     202.8     86.6      81.2      50.4      145.0        3.40      2.90
1978..........................................      580.6      96.6      484.0     228.4    101.9      94.5      59.1      167.6        3.46      2.89
1979..........................................      675.5     113.6      561.9     268.7    120.5     105.3      67.5      186.4        3.62      3.01

1980..........................................      736.0     113.3      622.8     296.5    138.5     113.7      74.0      204.8        3.59      3.04
1981..........................................      781.9     103.7      678.2     318.1    151.4     123.9      84.9      221.8        3.53      3.06
1982..........................................      767.2     109.2      658.0     299.5    150.3     123.5      84.6      232.8        3.29      2.83
1983..........................................      786.7     105.6      681.1     302.6    154.1     138.0      86.4      255.4        3.08      2.67
1984..........................................      860.0     108.5      751.5     333.4    169.0     157.3      91.8      276.7        3.11      2.72
1985..........................................      875.0     105.9      769.1     325.3    173.4     171.9      98.4      297.7        2.94      2.58
1986..........................................      862.5      94.3      768.2     314.6    177.2     176.8      99.5      315.7        2.73      2.43
1987..........................................      927.4      97.9      829.5     332.9    190.6     199.5     106.4      333.1        2.78      2.49
1988..........................................      992.8     102.0      890.8     358.8    208.5     213.8     109.6      362.8        2.74      2.46
1989..........................................    1,044.6     103.6      941.0     382.1    218.4     232.7     107.8      384.9        2.71      2.44

1990..........................................    1,082.4     108.3      974.1     399.7    232.4     237.1     104.8      403.4        2.68      2.41
1991..........................................    1,058.1      97.2      961.0     383.4    235.5     240.1     102.0      413.1        2.56      2.33
1992..........................................    1,077.9     104.9      973.1     375.5    245.3     249.4     103.0      441.9        2.44      2.20

1993:I..........................................    1,099.5     110.1      989.3     378.4    247.8     260.4     102.8      443.5        2.48      2.23
II..........................................    1,102.1     105.6      996.5     381.9    248.4     262.2     103.9      449.6        2.45      2.22
III.........................................    1,104.9     101.3    1,003.7     383.5    251.9     263.3     105.0      454.1        2.43      2.21
IV..........................................    1,114.8     101.5    1,013.4     384.0    254.5     267.3     107.6      463.6        2.40      2.19

1994:I..........................................    1,132.2     106.6    1,025.6     388.9    255.9     270.9     110.0      467.6        2.42      2.19
II..........................................    1,150.0     100.3    1,049.7     396.4    262.5     279.3     111.6      474.5        2.42      2.21
III.........................................    1,168.9      99.9    1,069.0     403.9    268.2     284.2     112.6      482.2        2.42      2.22
IV..........................................    1,200.6     104.1    1,096.5     413.3    277.5     290.7     115.0      489.2        2.45      2.24

1995:I..........................................    1,235.5     104.4    1,131.1     426.9    287.3     298.2     118.7      494.6        2.50      2.29
II..........................................    1,247.7      99.1    1,148.6     432.4    292.6     304.3     119.2      500.0        2.50      2.30
III.........................................    1,251.2      95.4    1,155.8     435.0    296.6     305.6     118.6      507.9        2.46      2.28
IV..........................................    1,261.9      98.3    1,163.6     434.8    298.9     307.8     122.1      514.1        2.45      2.26

1996:I..........................................    1,266.6      98.4    1,168.2     438.3    300.9     304.9     124.1      522.1        2.43      2.24
II..........................................    1,280.2     107.0    1,173.2     437.0    302.4     309.4     124.4      531.3        2.41      2.21
III.........................................    1,292.7     109.2    1,183.5     441.4    300.5     315.6     126.0      535.0        2.42      2.21
IV..........................................    1,299.6     104.4    1,195.2     447.1    301.5     316.7     129.8      545.2        2.38      2.19

1997:I..........................................    1,309.8     108.4    1,201.4     449.3    306.7     316.3     129.0      553.0        2.37      2.17
II..........................................    1,323.3     109.2    1,214.1     454.1    311.9     316.3     131.9      559.1        2.37      2.17
III.........................................    1,339.9     110.5    1,229.4     458.6    317.8     318.1     134.8      569.7        2.35      2.16
IV..........................................    1,348.4     109.1    1,239.3     462.0    321.0     321.4     135.0      574.6        2.35      2.16

1998:I..........................................    1,363.6     110.8    1,252.8     466.1    324.8     325.3     136.6      582.3        2.34      2.15
II..........................................    1,366.5     108.9    1,257.6     469.1    326.0     323.6     138.9      590.6        2.31      2.13
III.........................................    1,369.1     103.9    1,265.2     471.1    332.0     323.0     139.1      596.0        2.30      2.12
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\1\Inventories at end of quarter. Quarter-to-quarter change calculated from this table is not the current-dollar change in business inventories (CBI)
component of GDP. The former is the difference between two inventory stocks, each valued at their respective end-of-quarter prices. The latter is the
change in the physical volume of inventories valued at average prices of the quarter. In addition, changes calculated from this table are at quarterly
rates, whereas CBI is stated at annual rates.
\2\Inventories of construction establishments are included in ``other'' nonfarm inventories.
\3\Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross product of households and
institutions and of general government and includes a small amount of final sales by farms.

Note.--The industry classification of inventories is on an establishment basis. Estimates for nonfarm industries other than manufacturing and trade for
1986 and earlier periods are based on the 1972 Standard Industrial Classification (SIC). Manufacturing estimates for 1981 and earlier periods and
trade estimates for 1966 and earlier periods are based on the 1972 SIC; later estimates for these industries are based on the 1987 SIC. The resulting
discontinuities are small.

Source: Department of Commerce, Bureau of Economic Analysis.