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- Table 1.--Revisions in Selected Component Series of the NIPA's, Second Quarter of 1986
- ____________________________________________________________________________________________
- | |
- | |Percent change from
- | |preceding quarter at
- |Seasonally adjusted at annual rates| annual rates
- _
- |___________________________________|____________________
- | | | | |
- | 15-day | 45-day | | 15-day | 45-day
- | estimate | estimate | Revision | estimate| estimate
- _ _ _ _ _
- ___________________________________|___________|___________|___________|_________|__________
- | |
- | Billions of current dollars |
- _
- |___________________________________|____________________
- | | | | |
- GNP................................| 4,182.3 | 4,179.8 | -2.5 | 3.2 | 3.0
- | | | | |
- Personal consumption | | | | |
- expenditures...................| 2,730.1 | 2,735.3 | 5.2 | 4.9 | 5.7
- Nonresidential fixed | | | | |
- investment.....................| 457.3 | 456.5 | -.8 | -1.6 | -2.3
- Residential investment...........| 214.6 | 215.7 | 1.1 | 19.4 | 21.9
- Change in business inventories...| 19.5 | 12.5 | -7.0 | ..... | .....
- Net exports......................| -96.4 | -100.2 | -3.8 | ..... | .....
- Government purchases.............| 857.2 | 860.0 | 2.8 | 10.2 | 11.6
- | | | | |
- National income....................| ...... | 3,379.5 | ..... | ..... | 4.7
- | | | | |
- Compensation of employees........| 2,478.8 | 2,480.1 | 1.3 | 2.8 | 3.1
- Corporate profits with inven- | | | | |
- tory valuation and capital | | | | |
- consumption adjustments........| ..... | 291.2 | ..... | ..... | -6.8
- Other............................| 602.2 | 608.1 | 5.9 | 13.8 | 18.4
- | | | | |
- Personal income....................| 3,480.0 | 3,486.5 | 6.5 | 5.6 | 6.4
- _ _ _ _
- |___________|___________|___________|_________|__________
- | |
- |Billions of constant (1982) dollars|
- _
- |___________________________________|____________________
- | | | | |
- GNP................................| 3,665.7 | 3,661.5 | -4.2 | 1.1 | .6
- | | | | |
- Personal consumption | | | | |
- expenditures...................| 2,407.0 | 2,410.4 | 3.4 | 5.9 | 6.5
- Nonresidential fixed | | | | |
- investment.....................| 454.8 | 455.2 | .4 | -2.6 | -2.3
- Residential investment...........| 193.1 | 192.3 | -.8 | 15.4 | 13.5
- Change in business inventories...| 19.6 | 11.6 | -8.0 | ..... | .....
- Net exports......................| -146.3 | -150.5 | -4.2 | ..... | .....
- Government purchases.............| 737.5 | 742.4 | 4.9 | 7.0 | 9.8
- _ _ _ _
- |___________|___________|___________|_________|__________
- | |
- | Index numbers, 1982=100 /1/ |
- _
- |___________________________________|____________________
- | | | | |
- GNP price index (fixed weights)....| 115.0 | 115.0 | 0 | 1.8 | 1.9
- GNP price index (chained weights)..| ...... | ..... | ..... | 1.5 | 1.6
- GNP implicit price deflator........| 114.1 | 114.2 | .1 | 2.1 | 2.5
- _ _ _ _ _
- ___________________________________|___________|___________|___________|_________|__________
-
- 1. Not at annual rates.
-
- NOTE.--For the second quarter of 1986, the following revised or additional
- major source data were incorporated: For personal consumption expenditures,
- revised retail sales for May and June; for nonresidential fixed investment,
- manufacturers' shipments of equipment for May (revised) and June, construction
- put in place for May (revised) and June, and partial information on actual
- plant and equipment expenditures for the quarter; for residential investment,
- construction put in place for May (revised) and June; for change in business
- inventories, book values for manufacturing and trade for May (revised) and
- June; for net exports of goods and services, revised statistical month
- merchandise trade for May and statistical month exports for June; for government
- purchases of goods and services, Federal unified budget outlays for June,
- and State and local construction put in place for May (revised) and June;
- for wages and salaries, revised employment, average hourly earnings, and
- average weekly hours for May and June; for corporate profits, domestic book
- profits for the quarter; for GNP prices, the Consumer Price Index and the
- Producer Price Index for June, unit-value indexes for exports and imports
- for June, export and import price indexes for June, and residential housing
- prices for the quarter.
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- Table 2.--Government Sector Receipts and Expenditures: Change from Preceding Quarter
- [Billions of dollars, based on seasonally adjusted annual rates]
-
- ________________________________________________________________________________________
- | |
- | 1985 | 1986
- _
- |_____________________________|___________________
- | | | | |
- | II | III | IV | I | II
- _ _ _ _ _
- ______________________________________|_________|_________|_________|_________|_________
- | | | | |
- Government sector | | | | |
- | | | | |
- Receipts..............................| -29.5 | 47.3 | 20.3 | 8.0 | 5.5
- Expenditures..........................| 29.6 | 29.5 | 37.5 | -15.5 | 50.9
- Surplus or deficit (-)..............| -59.1 | 17.7 | -17.1 | 23.5 | -45.4
- | | | | |
- Federal Government | | | | |
- | | | | |
- Receipts.....................| -37.5 | 36.8 | 13.2 | -5.8 | 5.9
- | | | | |
- Personal tax and nontax receipts......| -44.7 | 32.9 | 6.5 | -5.3 | 5.1
- Corporate profits tax accruals........| -.6 | 6.9 | .4 | -6.1 | 1.5
- Indirect business tax and nontax | | | | |
- accruals............................| 4.1 | -5.3 | 2.0 | -3.3 | -2.1
- Contributions for social | | | | |
- insurance...........................| 3.1 | 2.2 | 4.8 | 8.8 | 1.4
- | | | | |
- Expenditures.................| 15.2 | 19.5 | 33.3 | -21.9 | 41.2
- | | | | |
- Purchases of goods and services.......| 7.1 | 20.0 | 20.0 | -25.2 | 11.4
- National defense....................| 6.2 | 10.4 | 2.6 | -1.6 | 11.6
- Nondefense..........................| 1.0 | 9.6 | 17.4 | -23.6 | -.2
- Of which: Commodity Credit | | | | |
- Corporation inventory change....| -.5 | 9.1 | 17.3 | -23.1 | -.2
- Transfer payments.....................| 3.0 | 6.9 | 1.8 | 3.4 | 5.1
- To persons..........................| 1.6 | 4.8 | .9 | 8.4 | 2.7
- To foreigners.......................| 1.3 | 2.1 | .9 | -5.0 | 2.4
- Grants-in-aid to State and local | | | | |
- governments.........................| 2.6 | 2.0 | 1.4 | 1.9 | 3.4
- Net interest paid.....................| 3.3 | -1.1 | 4.1 | 1.1 | 2.9
- Subsidies less current surplus of | | | | |
- government enterprises..............| -2.0 | -7.3 | 6.0 | -3.1 | 18.4
- Subsidies...........................| 0 | -9.1 | 2.4 | .1 | 19.1
- Of which: Agricultural subsidies..| -.5 | -9.3 | 2.1 | .1 | 18.9
- Less: Current surplus of | | | | |
- government enterprises............| 2.0 | -1.8 | -3.6 | 3.2 | .7
- Less: Wage accruals less | | | | |
- disbursements.......................| -1.1 | 1.0 | 0 | 0 | 0
- | | | | |
- Surplus or deficit (-)..............| -52.7 | 17.3 | -20.1 | 16.0 | -35.3
- | | | | |
- State and local governments | | | | |
- | | | | |
- Receipts.....................| 10.6 | 12.4 | 8.5 | 15.7 | 3.0
- | | | | |
- Personal tax and nontax receipts......| 2.9 | 1.8 | 3.4 | 2.2 | 2.1
- Corporate profits tax accruals........| -.1 | 1.8 | .2 | -1.2 | .6
- Indirect business tax and nontax | | | | |
- accruals............................| 4.4 | 6.2 | 3.0 | 12.3 | -3.8
- Contributions for social insurance....| .8 | .7 | .6 | .6 | .7
- Federal grants-in-aid.................| 2.6 | 2.0 | 1.4 | 1.9 | 3.4
- | | | | |
- Expenditures.................| 17.0 | 12.1 | 5.5 | 8.2 | 13.1
- | | | | |
- Purchases of goods and services.......| 14.6 | 10.7 | 5.9 | 6.2 | 11.9
- Of which: Structures................| 6.2 | 3.1 | -2.6 | .4 | 6.7
- Transfer payments to persons..........| 2.4 | 1.6 | 1.0 | 2.2 | 1.5
- Net interest paid.....................| .6 | .5 | .2 | .3 | .3
- Less: Dividends received by | | | | |
- government..........................| .4 | .4 | .4 | .4 | .3
- Subsidies less current surplus of | | | | |
- government enterprises..............| -.3 | -.4 | -1.2 | -.2 | -.2
- Subsidies...........................| 0 | 0 | 0 | 0 | 0
- Less: Current surplus of | | | | |
- government enterprises............| .3 | .4 | 1.3 | .2 | .3
- Less: Wage accruals less | | | | |
- disbursements.......................| 0 | 0 | 0 | 0 | 0
- | | | | |
- Surplus or deficit (-)..............| -6.4 | .3 | 2.9 | 7.5 | -10.1
- | | | | |
- Social insurance funds................| .8 | .7 | .6 | .6 | .7
- Other.................................| -7.2 | -.3 | 2.3 | 6.9 | -10.8
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- ______________________________________|_________|_________|_________|_________|_________
-
- NOTE.--Dollar levels are found in the National Income and Product Accounts
- Tables, tables 3.2 and 3.3.
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- Table 3.--Business Inventories and Business Final Sales in Constant Dollars: Published and Adjusted
- for Commodity Credit Corporation Inventories and Imports
-
- [Billions of 1982 dollars]
-
- _______________________________________________________________________________________________________________
- |
- | Seasonally adjusted
- _
- |________________________________________________________________________________
- | | | |
- | 1982 | 1983 | 1984 |
- _ _ _
- |_______________|_______________________________|_______________________________|
- | | | | | | | | | | |
- | III | IV | I | II | III | IV | I | II | III | IV |
- _ _ _ _ _ _ _ _ _ _ _
- ______________________________|_______|_______|_______|_______|_______|_______|_______|_______|_______|_______|
- | | | | | | | | | | |
- Inventories/1/ | | | | | | | | | | |
- | | | | | | | | | | |
- Business inventories..........| 783.3 | 768.4 | 757.9 | 755.5 | 755.3 | 762.0 | 783.3 | 797.6 | 812.7 | 821.2 |
- CCC inventories...............| 16.6 | 20.9 | 21.9 | 21.9 | 21.1 | 16.8 | 12.8 | 13.6 | 14.4 | 14.6 |
- CCC-adjusted business invento-| | | | | | | | | | |
- ries (line 1 plus line 2)...| 799.9 | 789.3 | 779.8 | 777.4 | 776.4 | 778.8 | 796.1 | 811.2 | 827.1 | 835.8 |
- | | | | | | | | | | |
- Final sales/2/ | | | | | | | | | | |
- | | | | | | | | | | |
- Business final sales..........| 221.3 | 226.1 | 226.8 | 230.1 | 233.0 | 235.5 | 237.4 | 243.4 | 244.5 | 247.7 |
- | | | | | | | | | | |
- CCC inventory change..........| .7 | 1.4 | .3 | 0 | -.3 | -1.4 | -1.3 | .3 | .3 | .1 |
- CCC-adjusted business final | | | | | | | | | | |
- sales(line 4 minus line 5)..| 220.6 | 224.7 | 226.5 | 230.1 | 233.3 | 236.9 | 238.7 | 243.1 | 244.2 | 247.6 |
- | | | | | | | | | | |
- Imports of merchandise and | | | | | | | | | | |
- nonfactor services..........| 25.6 | 24.1 | 24.4 | 26.7 | 29.0 | 30.2 | 32.1 | 33.6 | 34.1 | 35.0 |
- Import-adjusted business | | | | | | | | | | |
- final sales (line 4 plus | | | | | | | | | | |
- line 7).....................| 246.9 | 250.2 | 251.2 | 256.8 | 262.0 | 265.7 | 269.5 | 277.0 | 278.6 | 282.7 |
- | | | | | | | | | | |
- Ratios | | | | | | | | | | |
- | | | | | | | | | | |
- Business inventories to busi- | | | | | | | | | | |
- ness final sales (line 1 | | | | | | | | | | |
- divided by line 4)..........| 3.54 | 3.40 | 3.34 | 3.28 | 3.24 | 3.24 | 3.30 | 3.28 | 3.32 | 3.32 |
- Import-adjusted variant (line | | | | | | | | | | |
- 1 divided by line 8)........| 3.17 | 3.07 | 3.02 | 2.94 | 2.88 | 2.87 | 2.91 | 2.88 | 2.92 | 2.90 |
- CCC-adjusted variant (line 3 | | | | | | | | | | |
- divided by line 6)..........| 3.63 | 3.51 | 3.44 | 3.38 | 3.33 | 3.29 | 3.33 | 3.34 | 3.39 | 3.38 |
- | | | | | | | | | | |
- Addendum: CCC inventory | | | | | | | | | | |
- change (at annual rates, | | | | | | | | | | |
- as published in NIPA | | | | | | | | | | |
- table 3.8B).................| 7.9 | 17.2 | 3.8 | -.1 | -3.1 | -17.2 | -15.9 | 3.1 | 3.4 | .8 |
- _ _ _ _ _ _ _ _ _ _ _
- ______________________________|_______|_______|_______|_______|_______|_______|_______|_______|_______|_______|
-
- 1. Inventories are as of the end of the quarter; quarter-to-quarter changes calculated from these estimates
- are at quarterly rates.
- 2. Final sales are quarterly totals at monthly rates.
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- NOTE.--Lines 1, 4, and 9 are from NIPA table 5.11. Line 2 is the stock figure associated with line 5, which is
- derived from NIPA table 3.8B. Line 7 is derived from NIPA table 4.2
-
- Table 3 - part 2, 1985-86
- (See above table for line stubs)
- _________________________________________________
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- _________________________________________________
- |
- 1985 | 1986
- _
- _______________________________|_________________
- | | | | |
- I | II | III | IV | I | II
- _ _ _ _ _
- _______|_______|_______|_______|_______|_________
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- 827.0 | 831.4 | 831.5 | 830.2 | 840.2 | 843.1
- 15.4 | 15.9 | 18.8 | 26.8 | 28.5 | 29.6
- | | | | |
- 842.4 | 847.3 | 850.3 | 857.0 | 868.7 | 872.7
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- 251.0 | 253.1 | 257.5 | 259.2 | 258.0 | 260.9
- | | | | |
- .3 | .2 | 1.0 | 2.7 | .5 | .4
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- 250.7 | 252.9 | 256.5 | 256.5 | 257.5 | 260.5
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- 33.7 | 35.4 | 35.5 | 37.6 | 37.6 | 39.2
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- 284.7 | 288.5 | 293.0 | 296.8 | 295.6 | 300.1
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- 3.30 | 3.28 | 3.23 | 3.20 | 3.26 | 3.23
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- 2.91 | 2.88 | 2.84 | 2.80 | 2.84 | 2.81
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- 3.36 | 3.35 | 3.31 | 3.34 | 3.37 | 3.35
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- 3.2 | 2.0 | 11.5 | 32.3 | 6.4 | 4.4
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- _______|_______|_______|_______|_______|_________
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