United States yearbook - 1982 (1)

Gross National Product 419
No. 690. GNP in C u r r e n t a n d C o n s t a n t ( 1 9 7 2 ) D o l l a r s : i 9 6 0 t o 1 9 8 1
[In billions of dollars, except as Indicated. See H is to ric a l S ta tis tic s , C o lo n ia l T im e s to 1 9 7 0 , series F 1, F 5, and F 47-70 for
single-year figures prior to revisions issued in 1661]
ITEM I960 1966 1970 1973 1974 1975 1976 1977 1978 1979 19B0 1981
CURRENT DOLLARS
Gross national product (GNP)..............
Avg. annual percent change1...............
507 691 993 1,326 1,434 1,549 1,718 1,916 2,164 2,416 2,633 2,938
4.9 6.4 7.5 10.1 8.1 8.0 '10.9 11.7 12.8 11.7 B.9 11.6
Implicit price deflator3........................... 68.7 74.4 91.5 105.8 115.1 125.8 132.3 140.1 150.4 163.4 178.6 195.5
Personal consumption expenditure......... 325 430 622 612 686 976 1,084 1,204 1,346 1,507 1,867 1,843
Durable goods......................................... 43 63 65 123 122 132 157 178 200 213 214 235
Nondurable goods................................... 151 189 266 333 373 407 442 479 52S 600 670 735
Services.................................................. 131 179 271 355 393 437 486 547 618 694 783 874
Grose private domestic Investment......... 76 114 144 230 229 206 258 324 987 423 402 472
Fixed investment..................................... 73 104 141 211 215 213 246 301 360 409 412 451
Nonresidential...................................... 48 73 104 143 157 158 174 205 249 290 309 346
Residential........................................... 24 31 37 68 58 55 72 96 111 119 103 105
Business inventories change.............. ..... 3 10 3 18 14 - 7 12 23 26 14 -10 20
Nat exports............................................... 5 9 7 14 13 27 14 - 4 -1 13 25 26
Exports, goods and services................... 29 41 66 110 146 155 171 183 219 281 339 367
Imports, goods and services................... 23 32 59 65 133 128 157 187 220 268 314 341
Government purchases3........................... 100 138 220 270 304 340 362 394 432 474 53B 597
Federal................................................... 54 67 96 102 111 123 129 143 154 168 197 229
National defense.................................. 44 49 74 73 77 83 86 93 100 112 131 154
State and local........................................ 47 71 124 168 193 217 233 250 278 306 341 368
Final sales4................................................ 504 681 990 1,308 1,420 1,556 1,706 1,895 2,137 2,403 2,643 2,917
CONSTANT (1872) DOLLARS
Gross national product (GNP).............. 737 929 1,066 1,254 1,246 1,232 1,298 1,370 1,439 1,479 1,474 1,503
Annual percent change1...................... 2.3 4.7 3.2 4.9 -.6 -1 .2 5.4 5.5 5.0 2.6 - .4 1.9
Potential GNP6........................................ 774 926 1,110 1,235 1,278 1,321 1,365 1,411 1,459 1,505 1,549 1,593
Personal consumption expenditure......... 452 557 672 766 763 779 823 864 903 926 930 948
Durable goods......................................... 51 73 69 121 112 113 127 138 147 147 137 140
Nondurable goods................................... 208 244 284 307 303 307 322 333 344 353 356 362
Services.................................................. 192 241 299 339 348 359 375 393 412 427 438 445
Gross private domestic Investment......... 105 152 169 218 195 155 185 214 237 236 206 226
Fixed investment..................................... 101 140 155 200 184 162 177 201 221 229 213 217
Nonresidential............ . 67 97 114 138 136 119 126 140 156 170 166 172
Residential................... 34 43 41 62 48 42 51 61 62 59 47 45
Business inventories change.................... 4 12 4 17 12 —7 8 13 16 7 - 5 9
Net exports....................... 8 10 3 16 28 32 25 22 24 37 51 42
Exports, goods and services.................... 38 52 70 97 108 104 110 113 127 146 159 158
Imports, goods and services.................... 31 42 87 82 81 71 65 91 103 109 109 116
Government purchases’... 173 210 251 254 260 265 265 269 275 278 285 287
Federal............................ 90 100 111 96 97 97 97 100 100 102 106 110
State end local................... 82 109 140 157 164 168 168 169 174 176 178 177
Final tales4........................ 734 916 1,082 1,237 1,235 1,241 1,290 1,356 1,423 1,472 1,479 1,494
1 Change from prior year shown; for 1960, change from 1655. For explanation of average annual percent change, see Guide to
Tabular presentation. *1972=100. Purchases of goods and services. 4GNP minus inventory change. “Source:
U.S. Council of Economic Advisers. Potential GNP Is the output the economy could produce with the existing technology under
assumed conditions of high, sustainable utilization of the factors of production. See E c o n o m ic R e p o rt o f th e P re s id e n t, January
No. 691, GNP C o m p o n e n t s — A n n u a l G r o w t h R a t e s : 1 9 6 0 t o 1 9 8 1
[Percent. Represents changes In constant 1972 dollar GNP. GNP = Gross national product. See headnote, table 695. Minus sign
(—) indicates decline]
PERSONAL CONSUMPTION
EXPENDITURE
GROSS PRIVATE DOMESTIC
INVESTMENT
GOVERNMENT
PURCHASES
YEAR OR
PERIOD
GNP
Total
Exports
Durable
goods
Non*
durable
goods
Total
Fixed Investment
Federal
Residential
Nonreel
dential
Services
State
and
local
Imports
1960-1965.... 4.7 4.3 7.2 3.2 4.6 7.7 4.5 7.8 2.1 5.9 6.3 6.1
1965-1970__ 3.2 3.6 4.2 3.1 4.4 .9 -.8 3.2 2.0 5.1 9.9 6.4
1970-1971__ 3.4 3.7 10.2 1.7 3.6 9.7 31.0 -1 .4 -6 .2 4.2 4.2 .7
1971-1972__ 5.7 5.8 13.1 4.1 5.0 12.2 18.9 7.9 -2 .0 3.5 10.6 9.2
1972-1973.... 5.6 4.2 9.2 2.2 4.3 11.5 -2 .4 14.1 -5 .7 4.0 6.6 25.6
1973-1974.... - .8 - .7 -7 .4 -1 .6 2.6 -10.1 -22 .7 -1 .7 .8 3.9 -1 .3 11.5
1974-1975.... -1 .2 2.2 .3 1.6 3.3 -20 ,8 -12 ,4 -12.1 .8 2.6 -11 .6 -4 .6
1975-1976.... 5.4 5.6 12.3 4.7 4.3 19.2 21.3 5 2 - .7 .4 18.6 6.3
1976-1977__ 5.5 5.0 9.0 3.6 4.9 16.1 18.6 11.7 3.8 .2 7.3 2.6
1977-1978__ 5.0 4.5 6.4 3.3 4.6 10.5 2.6 12.9 -.1 3.3 13.0 12.2
1978-1979__ 2.8 2.7 .3 2.5 3.7 -.2 -5 .2 7.3 1.8 1.1 6.1 15.4
1979-1980.... - .4 .3 -6 .9 .8 2.4 -1 1 .8 -2 0 .2 -2 .2 4.2 1.1 - .4 6.9
1980-1981.... 1.9 1.6 2.2 1.8 1.7 8.4 -4 .8 3.5 3.7 - .8 7.2 - .4
Source o f tables 6 90 and 691 : Except as noted, U .S . Bureau o f Econom ic Analysis, The N a tion al Incom e an d Product Accounts
o f the U n ited States, 1 9 2 9 -76 , and Survey o f C u rren t Business, July 1962.