Economic Report of the President

PageConclusions 122CHAPTER 6. REVIEW OF 1982 AND THE ECONOMIC OUTLOOK 124Overview of 1982 124Major Sectors of Aggregate Demand 126Personal Consumption Expenditures 127Residential Investment 128Business Fixed Investment 129Inventory Investment 130The Farm Economy 130Foreign Trade 132Government Purchases of Goods and Services 132Labor Market Developments 133Wages, Productivity, and Prices.. 134Credit Markets 136Interest Rates 137Monetary Developments 139Prospects for 1983 142Prospects and Policies Beyond 1983 143APPENDIXESA. Report to the President on the Activities of the Councilof Economic Advisers During 1982 147B. Statistical Tables Relating to Income, Employment andProduction 157List of Tables and ChartsTables2-1. Median Family Income by Unemployment and FamilyStatus, 1981 302-2. Educational and Labor Market Activities of Youth Aged16 to 19, by Sex, October 1981 423-1. Structure of the U.S. Balance of Payments, as Percent ofGNP, 1960-80 553-2. Trade Balances by Commodity Group as Percent ofGDP, United States, Japan, and the European EconomicCommunity, 1980 573-3. Trade Balances by Region as Percent of GDP, UnitedStates and Japan, 1980 583-4. U.S. Trade Balances by Sector as Percent of GDP,1972-79 583-5. Real Appreciation of the Dollar Against Major Currenciesto August 1982 663-6. Economic Performance by Major Industrial Countries,1973-82 713-7. Employment and Unemployment in the European EconomicCommunity, 1973-80 7215