Harvard Business School 9-700-070
Rev. May 5, 2000
Research Associate Cherie Nursalim prepared this supplement under the supervision of Professor Julio Rotemberg as the basis
for class discussion.
Copyright © 1999 by the President and Fellows of Harvard College. To order copies or request permission to
reproduce materials, call 1-800-545-7685, write Harvard Business School Publishing, Boston, MA 02163, or go to
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otherwise—without the permission of Harvard Business School.
1
Data Supplement:
Post-War US Economic Statistics
700-070 Data Supplement: Post-War US Economic Statistics
2
Exhibit 1 Gross Domestic Product and Expenditure Shares as Percent of GDP: 1949-1986
Year Gross
Domestic
Product
(billions of
current
dollars)
Personal
Consumption
Expenditures
(%)
Private
Fixed
Investment
(%)
Change in
Business
Inventories
(%)
Government
Spending on
Goods and
Services
(% )
National
Defense
(%)
State and
Local
Expenditures
(%)
Net
Exports of
Goods and
Services
(%)
1949 268 66.8 14.8 -1.1 17.5 7.5 7.1 1.9
1950 295 65.4 16.4 2.0 16.0 6.7 7.0 0.2
1951 340 61.4 14.8 3.0 20.1 11.6 6.8 0.7
1952 359 61.3 14.1 1.0 23.4 14.6 6.8 0.3
1953 380 61.5 14.4 0.5 23.9 14.8 6.9 -0.2
1954 381 63.1 14.6 -0.5 22.6 12.9 7.6 0.1
1955 415 62.4 15.4 1.2 20.9 11.3 7.6 0.1
1956 438 62.1 15.5 0.9 20.9 11.3 8.0 0.5
1957 461 62.2 15.1 0.2 21.6 11.6 8.4 0.9
1958 467 63.4 13.9 -0.1 22.7 11.8 9.1 0.1
1959 507 62.7 14.7 0.8 22.1 11.0 8.8 -0.3
1960 527 63.1 14.3 0.6 21.5 10.4 9.0 0.5
1961 545 62.9 13.8 0.5 22.2 10.6 9.5 0.6
1962 585 62.1 14.0 1.0 22.5 10.6 9.4 0.4
1963 617 62.0 14.2 0.9 22.3 10.1 9.7 0.5
1964 663 62.1 14.6 0.8 21.8 9.2 9.8 0.8
1965 719 61.8 15.1 1.3 21.3 8.6 9.9 0.5
1966 788 61.2 14.8 1.8 22.0 9.3 10.1 0.2
1967 834 61.1 14.1 1.3 23.4 10.3 10.6 0.2
1968 911 61.5 14.4 1.0 23.3 10.1 10.8 -0.1
1969 982 61.6 14.8 1.0 22.8 9.4 11.0 -0.1
1970 1036 62.6 14.3 0.2 22.8 8.8 11.6 0.1
1971 1125 62.4 14.9 0.8 22.2 7.9 11.8 -0.3
1972 1237 62.3 15.8 0.8 21.7 7.5 11.6 -0.6
1973 1383 61.6 16.3 1.3 20.8 6.8 11.5 0.0
1974 1497 62.2 15.5 0.9 21.6 6.8 12.2 -0.2
1975 1631 63.1 14.2 -0.4 22.2 6.8 12.8 0.8
1976 1819 63.2 14.8 0.9 21.2 6.4 12.3 -0.1
1977 2027 63.0 16.5 1.1 20.6 6.2 11.8 -1.2
1978 2291 62.4 17.6 1.2 20.0 5.9 11.5 -1.1
1979 2558 62.3 18.1 0.7 19.8 5.9 11.4 -0.9
1980 2784 63.2 17.0 -0.3 20.6 6.3 11.7 -0.5
1981 3116 62.3 16.9 0.9 20.3 6.5 11.2 -0.5
1982 3242 64.1 15.9 -0.4 21.1 7.1 11.5 -0.6
1983 3515 65.0 15.7 -0.1 20.9 7.3 11.1 -1.5
1984 3902 63.9 16.6 1.7 20.4 7.2 10.9 -2.6
1985 4181 64.7 16.5 0.6 20.9 7.5 11.1 -2.7
1986 4422 65.4 16.1 0.2 21.2 7.5 11.4 -3.0
Source: Bureau of Economic Analysis, U.S. Department of Commerce.
Data Supplement: Post-War US Economic Statistics 700-070
3
Exhibit 2 Real Gross Domestic Product and Expenditures: 1949-1986 (billions of chained 1992
dollars).
Year Gross
Domestic
Product
Personal
Consumption
Expenditures
Private
Fixed
Investment
Change in
Business
Inventories
Government
Spending on
Goods and
Services
National
Defense
State and
Local
Expenditures
Net Exports
of Goods
and Services
1949 1480 972 186 -10 346 143 154 6
1950 1611 1034 222 18 345 140 167 -11
1951 1734 1049 212 26 469 266 168 -1
1952 1799 1082 208 10 566 356 171 -10
1953 1881 1135 223 6 605 377 179 -21
1954 1868 1159 226 -6 563 322 195 -14
1955 2001 1243 256 14 541 290 209 -17
1956 2040 1278 255 12 543 289 216 -13
1957 2079 1308 253 3 567 301 229 -10
1958 2058 1319 234 -1 585 300 248 -25
1959 2210 1395 267 13 618 308 257 -35
1960 2263 1433 269 11 617 301 267 -21
1961 2314 1462 268 9 647 314 284 -19
1962 2455 1534 292 19 686 332 292 -27
1963 2559 1597 314 18 702 324 310 -23
1964 2708 1692 344 16 716 310 331 -16
1965 2881 1799 378 30 738 304 353 -27
1966 3069 1902 399 42 805 348 376 -41
1967 3147 1959 391 32 866 393 394 -50
1968 3294 2070 418 27 892 401 417 -67
1969 3394 2148 443 27 887 382 428 -71
1970 3398 2198 432 5 867 349 440 -65
1971 3510 2279 465 22 851 314 454 -76
1972 3702 2416 520 25 854 300 464 -89
1973 3916 2533 567 38 848 281 478 -63
1974 3891 2515 530 23 863 274 496 -36
1975 3874 2570 471 -10 876 270 510 -7
1976 4083 2714 518 30 877 265 514 -40
1977 4274 2830 594 39 885 266 516 -64
1978 4503 2952 661 43 911 267 535 -66
1979 4631 3020 696 23 925 271 544 -45
1980 4615 3010 648 -10 941 281 544 10
1981 4721 3046 661 33 948 296 533 6
1982 4620 3081 610 -16 960 317 531 -14
1983 4804 3241 654 -6 987 335 535 -63
1984 5140 3408 762 75 1018 348 555 -127
1985 5324 3567 799 30 1080 374 585 -148
1986 5488 3709 805 11 1135 393 617 -164
Source: Bureau of Economic Analysis, U.S. Department of Commerce.
700-070 Data Supplement: Post-War US Economic Statistics
4
Exhibit 3 Money Stocks, Interest Rates and Prices: 1949-1986
Year Currency In Hands
of the Public
($billions)
M1
a
($billions)
Federal Funds
Rate
b
(%)
3 Month T-bill
Rate
(%)
Gross Domestic
Product Implicit
Price Deflator
1992=100
Consumer
Price Index
1982-84=100
1949 25.5 114 1.10 18.1 23.8
1950 25.1 119 1.22 18.3 24.1
1951 25.5 125 1.55 19.6 26.0
1952 26.7 128 1.77 19.9 26.6
1953 27.7 130 1.94 20.2 26.8
1954 27.5 134 0.45 0.95 20.4 26.9
1955 27.6 136 1.78 1.75 20.7 26.8
1956 28.0 136 2.73 2.66 21.5 27.2
1957 28.3 138 3.11 3.26 22.2 28.1
1958 28.4 140 1.57 1.84 22.7 28.9
1959 28.7 140 3.30 3.41 23.0 29.2
1960 28.8 140 3.22 2.95 23.3 29.6
1961 28.9 143 1.96 2.38 23.5 29.9
1962 29.9 146 2.68 2.78 23.8 30.3
1963 31.3 151 3.18 3.16 24.1 30.6
1964 33.1 157 3.50 3.55 24.5 31.0
1965 34.9 163 4.07 3.95 25.0 31.5
1966 37.1 171 5.11 4.88 25.7 32.5
1967 39.0 178 4.22 4.33 26.5 33.4
1968 41.5 190 5.66 5.35 27.7 34.8
1969 44.4 201 8.21 6.69 29.0 36.7
1970 47.2 209 7.18 6.44 30.5 38.8
1971 50.5 223 4.66 4.34 32.1 40.5
1972 54.0 239 4.43 4.07 33.4 41.8
1973 58.6 256 8.73 7.02 35.3 44.4
1974 64.1 269 10.50 7.87 38.5 49.3
1975 70.1 281 5.82 5.82 42.1 53.8
1976 76.7 297 5.05 5.00 44.6 56.9
1977 83.6 320 5.54 5.27 47.4 60.6
1978 91.9 346 7.93 7.22 50.9 65.2
1979 100.9 373 11.19 10.04 55.3 72.6
1980 110.4 396 13.36 11.61 60.4 82.4
1981 119.0 425 16.38 14.08 66.1 90.9
1982 127.7 453 12.26 10.72 70.2 96.5
1983 140.0 503 9.09 8.62 73.2 99.6
1984 152.1 539 10.23 9.57 76.0 103.9
1985 162.4 587 8.10 7.49 78.6 107.6
1986 174.4 666 6.80 5.97 80.6 109.7
a
M1 is composed of (1) currency in hands of the public; (2) travelers checks; (3) demand deposits; and (4) other
checkable deposits.
b
Federal Funds Rate is the interest rate banks charge each other for overnight funds.
Source: Board of Governors of the Federal Reserve System and Bureau of Economic Analysis, U.S. Department of
Commerce. M1 prior to 1959 from Historical Statistics of the U.S. Bureau of The Census, U.S. Department
of Commerce (not strictly comparable to later observations).
Data Supplement: Post-War US Economic Statistics 700-070
5
Exhibit 4 Labor and Income Distribution Statistics: 1949-1986
Year Civilian Non-
institutional
Population
a
(millions)
Civilian
Labor
Force
(millions)
Labor Force
Participation
Rate
(%)
Employed
(millions)
Unemployed
(millions)
Unemployment
Rate
(%)
Income
Ratio
b
:
95
th
/20
th
Percentile
1949 104.0 61.3 59.0 57.7 3.7 6.1 5.23
1950 105.0 62.2 59.2 58.9 3.2 5.2 5.19
1951 104.6 62.0 59.3 60.0 2.0 3.3 4.61
1952 105.2 62.1 59.1 60.3 1.9 3.0 4.61
1953 107.1 63.0 58.9 61.2 1.8 2.9 4.77
1954 108.3 63.6 58.8 60.1 3.6 5.6 5.17
1955 109.7 65.0 59.2 62.1 2.8 4.4 4.77
1956 111.0 66.6 60.0 63.8 2.7 4.1 4.69
1957 112.3 66.9 59.6 64.1 2.9 4.3 4.62
1958 113.7 67.6 59.5 63.0 4.6 6.8 4.74
1959 115.3 68.4 59.3 64.6 3.7 5.5 4.78
1960 117.2 69.6 59.4 65.8 3.9 5.5 4.86
1961 118.8 70.5 59.3 65.7 4.7 6.7 5.21
1962 120.2 70.6 58.8 66.7 3.9 5.6 4.97
1963 122.4 71.8 58.7 67.8 4.1 5.6 4.89
1964 124.5 73.1 58.7 69.3 3.8 5.2 4.86
1965 126.5 74.5 58.8 71.1 3.4 4.5 4.77
1966 128.1 75.8 59.2 72.9 2.9 3.8 4.57
1967 129.9 77.3 59.6 74.4 3.0 3.8 4.85
1968 132.0 78.7 59.6 75.9 2.8 3.6 4.53
1969 134.3 80.7 60.1 77.9 2.8 3.5 4.54
1970 137.1 82.8 60.4 78.7 4.1 5.0 4.75
1971 140.2 84.4 60.2 79.4 5.0 6.0 4.86
1972 144.1 87.0 60.4 82.1 4.9 5.6 4.96
1973 147.1 89.4 60.8 85.1 4.4 4.9 4.94
1974 150.1 92.0 61.3 86.8 5.2 5.6 4.88
1975 153.2 93.8 61.2 85.8 7.9 8.5 4.97
1976 156.1 96.2 61.6 88.8 7.4 7.7 5.03
1977 159.0 99.0 62.2 92.0 7.0 7.1 5.17
1978 161.9 102.3 63.2 96.0 6.2 6.1 5.18
1979 164.9 105.0 63.7 98.8 6.1 5.9 5.15
1980 167.7 106.9 63.8 99.3 7.7 7.2 5.29
1981 170.1 108.7 63.9 100.4 8.3 7.6 5.45
1982 172.3 110.2 64.0 99.5 10.7 9.7 5.73
1983 174.2 111.6 64.0 100.8 10.7 9.6 5.86
1984 176.4 113.5 64.4 105.0 8.5 7.5 5.93
1985 178.2 115.5 64.8 107.2 8.3 7.2 5.94
1986 180.6 117.8 65.2 109.6 8.2 7.0 5.96
a
Persons 16 Years of Age and Over.
b
Income of households in the 95th
percentile of the household income distribution over income of households in the
20th
percentile.
Source: Bureau of The Census, U.S. Department of Commerce, and Bureau of Labor Statistics, U.S. Department. of
Labor.
700-070 Data Supplement: Post-War US Economic Statistics
6
Exhibit 5 Manufacturing Output, Compensation and Capacity Utilization: 1949-1986
Year Value of
Manufacturing
GDP
($billions)
Real Output
Index
1992=100
Hours Worked
Index
1992=100
Real Output
per Hour Index
1992=100
Real
Compensation
Per Hour Index
1992=100
Capacity
Utilization Rate
(%)
1949 72 26.5 79.2 33.5 48.8 74.2
1950 84 28.9 85.6 33.8 50.7 82.8
1951 99 30.9 92.2 33.5 51.7 85.8
1952 103 32.4 93.4 34.7 53.9 85.4
1953 112 35.2 98.2 35.9 56.5 89.3
1954 107 32.9 89.7 36.7 58.8 80.1
1955 121 36.3 94.7 38.4 61.2 87.0
1956 127 36.6 96.1 38.1 64.2 86.1
1957 132 36.8 94.6 38.9 65.8 83.6
1958 125 34.2 86.7 39.4 67.0 75.0
1959 140 37.2 92.6 40.2 68.9 81.6
1960 142 37.7 92.2 40.9 70.7 80.1
1961 143 37.9 89.8 42.2 72.0 77.3
1962 157 40.5 93.5 43.3 73.8 81.4
1963 166 42.6 94.5 45.1 75.1 83.5
1964 178 45.4 96.5 47.0 77.3 85.6
1965 196 49.0 102.1 48.0 77.7 89.5
1966 215 52.8 108.8 48.6 78.8 91.1
1967 221 54.6 108.2 50.5 80.9 87.2
1968 241 57.3 109.7 52.3 83.5 87.1
1969 254 58.9 111.0 53.0 85.0 86.6
1970 250 57.2 104.5 54.7 86.1 79.4
1971 263 58.6 100.7 58.3 87.6 77.9
1972 290 63.6 105.2 60.5 89.2 83.4
1973 324 68.7 110.5 62.2 90.4 87.7
1974 337 67.9 108.1 62.8 90.5 83.4
1975 355 63.0 97.4 64.7 92.9 72.9
1976 406 68.7 102.0 67.3 95.2 78.2
1977 463 74.0 106.3 69.7 97.2 82.6
1978 517 78.0 110.8 70.4 97.5 85.2
1979 571 79.1 113.0 70.0 96.2 85.3
1980 584 75.8 107.7 70.4 94.9 79.5
1981 652 76.4 107.2 71.4 94.5 78.3
1982 650 73.7 98.1 75.2 97.7 71.8
1983 690 77.1 99.1 77.8 97.3 74.4
1984 781 84.6 105.5 80.2 96.4 79.8
1985 803 87.1 104.7 83.2 98.1 78.8
1986 833 89.6 103.2 86.8 100.5 78.7
Source: Bureau of Labor Statistics, U.S. Department of Labor.
Data Supplement: Post-War US Economic Statistics 700-070
7
Exhibit 6 Business Output, Compensation and Hours Index (1992=100)
Year Real Output Index Hours Worked
Index
Output Per Hour
Index
Real Compensation
Per Hour
Index
1949 22.8 63.4 36.0 44.1
1950 25.1 64.2 39.1 46.9
1951 26.7 66.2 40.3 47.6
1952 27.5 66.3 41.4 49.4
1953 28.8 67.1 43.0 52.3
1954 28.4 64.7 43.9 53.9
1955 30.7 67.1 45.8 55.4
1956 31.2 68.1 45.8 58.2
1957 31.7 67.1 47.2 60.0
1958 31.0 64.1 48.5 61.0
1959 33.7 66.7 50.5 63.0
1960 34.3 66.7 51.4 64.7
1961 34.9 65.7 53.3 66.6
1962 37.2 66.8 55.7 68.8
1963 38.9 67.2 57.9 70.4
1964 41.4 68.3 60.6 73.1
1965 44.3 70.6 62.7 74.7
1966 47.2 72.5 65.2 77.3
1967 48.2 72.3 66.6 79.6
1968 50.5 73.3 68.9 82.5
1969 52.1 75.2 69.2 83.8
1970 52.0 73.7 70.5 85.3
1971 53.9 73.4 73.6 87.0
1972 57.6 75.7 76.0 89.6
1973 61.6 78.5 78.4 91.5
1974 60.6 78.6 77.1 90.5
1975 60.0 75.2 79.7 91.4
1976 64.0 77.6 82.5 94.0
1977 67.6 80.6 83.9 95.2
1978 71.7 84.6 84.8 96.4
1979 73.9 87.5 84.5 95.0
1980 72.9 86.6 84.2 92.8
1981 74.8 87.3 85.7 92.0
1982 72.5 85.1 85.3 93.1
1983 76.1 86.5 88.0 94.0
1984 82.5 91.5 90.2 94.0
1985 85.7 93.5 91.7 95.2
1986 88.5 94.1 94.0 98.2
Source: Bureau of Labor Statistics, U.S. Department of Labor.
700-070 Data Supplement: Post-War US Economic Statistics
8
Exhibit 7 Federal Budget and Receipts by Function (billions of dollars): 1949-1986
Year Personal
Income
Taxes
Corporate
Income
Taxes
Social Insurance
Taxes and
Contributions
Total Receipts Total
Expenditures
Budget
Surplus/
Deficit
1949 15.6 11.2 3.8 39.4 38.8 0.6
1950 15.8 10.4 4.3 39.4 42.6 -3.1
1951 21.6 14.1 5.7 51.6 45.5 6.1
1952 27.9 21.2 6.4 66.2 67.7 -1.5
1953 29.8 21.2 6.8 69.6 76.1 -6.5
1954 29.5 21.1 7.2 69.7 70.9 -1.2
1955 28.7 17.9 7.9 65.5 68.4 -3.0
1956 32.2 20.9 9.3 74.6 70.6 3.9
1957 35.6 21.2 10.0 80.0 76.6 3.4
1958 34.7 20.1 11.2 79.6 82.4 -2.8
1959 36.7 17.3 11.7 79.2 92.1 -12.8
1960 40.7 21.5 14.7 92.5 92.2 0.3
1961 41.3 21.0 16.4 94.4 97.7 -3.3
1962 45.6 20.5 17.0 99.7 106.8 -7.1
1963 47.6 21.6 19.8 106.6 111.3 -4.8
1964 48.7 23.5 22.0 112.6 118.5 -5.9
1965 48.8 25.5 22.2 116.8 118.2 -1.4
1966 55.4 30.1 25.5 130.8 134.5 -3.7
1967 61.5 34.0 32.6 148.8 157.5 -8.6
1968 68.7 28.7 33.9 153.0 178.1 -25.2
1969 87.2 36.7 39.0 186.9 183.6 3.2
1970 90.4 32.8 44.4 192.8 195.6 -2.8
1971 86.2 26.8 47.3 187.1 210.2 -23.0
1972 94.7 32.2 52.6 207.3 230.7 -23.4
1973 103.2 36.2 63.1 230.8 245.7 -14.9
1974 119.0 38.6 75.1 263.2 269.4 -6.1
1975 122.4 40.6 84.5 279.1 332.3 -53.2
1976 131.6 41.4 90.8 298.1 371.8 -73.7
1977 157.6 54.9 106.5 355.6 409.2 -53.7
1978 181.0 60.0 121.0 399.6 458.7 -59.2
1979 217.8 65.7 138.9 463.3 504.0 -40.7
1980 244.1 64.6 157.8 517.1 590.9 -73.8
1981 285.9 61.1 182.7 599.3 678.2 -79.0
1982 297.7 49.2 201.5 617.8 745.8 -128.0
1983 288.9 37.0 209.0 600.6 808.4 -207.8
1984 298.4 56.9 239.4 666.5 851.9 -185.4
1985 334.5 61.3 265.2 734.1 946.4 -212.3
1986 349.0 63.1 283.9 769.2 990.5 -221.2
Source: Budget of the United States Government, Historical Tables.
These statistics are for fiscal years. Prior to 1976 the fiscal year ends on June 30 of the year in question, after 1976 the
fiscal year ends on September 30 of the year in question.
Data Supplement: Post-War US Economic Statistics 700-070
9
Exhibit 8 Federal Expenditures in Selected Categories as Percent of Total Federal Expenditures: 1949-
1986
Year National
Defense
(%)
Social
Security and
Medicare
(%)
Net Interest
(%)
Income
Security and
Health
a
(%)
Education, Training,
and Social Services
(%)
International
Affairs
(%)
1949 34 2 11.6 8.7 0.5 15.6
1950 32 2 11.3 10.3 0.6 11.0
1951 52 3 10.2 8.1 0.5 8.0
1952 68 3 6.9 5.9 0.5 4.0
1953 69 4 6.8 5.5 0.6 2.8
1954 70 5 6.8 6.7 0.5 2.3
1955 62 6 7.1 7.8 0.7 3.2
1956 60 8 7.2 7.2 0.8 3.4
1957 59 9 7.0 7.7 0.8 4.1
1958 57 10 6.8 9.8 0.8 4.1
1959 53 11 6.3 9.7 0.9 3.4
1960 52 13 7.5 8.9 1.0 3.2
1961 51 13 6.9 10.8 1.1 3.3
1962 49 13 6.4 9.7 1.2 5.3
1963 48 14 7.0 9.7 1.3 4.8
1964 46 14 6.9 9.7 1.3 4.2
1965 43 15 7.3 9.5 1.8 4.5
1966 43 15 7.0 9.1 3.2 4.1
1967 45 16 6.5 8.6 4.1 3.5
1968 46 16 6.2 9.1 4.3 3.0
1969 45 18 6.9 9.9 4.1 2.5
1970 42 19 7.3 11.0 4.4 2.2
1971 38 20 7.1 14.2 4.7 2.0
1972 34 21 6.7 15.7 5.4 2.1
1973 31 23 7.1 15.3 5.2 1.7
1974 29 24 8.0 16.5 4.6 2.1
1975 26 23 7.0 19.0 4.8 2.1
1976 24 24 7.2 20.6 5.1 1.7
1977 24 26 7.3 19.1 5.2 1.6
1978 23 25 7.7 17.4 5.8 1.6
1979 23 26 8.5 17.2 6.0 1.5
1980 23 25 8.9 18.6 5.4 2.2
1981 23 26 10.1 18.7 5.0 1.9
1982 25 27 11.4 18.1 3.6 1.6
1983 26 28 11.1 18.7 3.3 1.5
1984 27 28 13.0 16.8 3.2 1.9
1985 27 27 13.7 17.1 3.1 1.7
1986 28 27 13.7 15.7 3.1 1.4
a
Medicare, which provides health benefits to retirees, is not included in this column.
Source: Budget of the United States Government, Historical Tables.
700-070 Data Supplement: Post-War US Economic Statistics
10
Exhibit 9 Selected Exchange Rates and Balance of Payments Statistics: 1946-1986
Year Merchandise
Exports
(billions of
dollars)
Merchandise
Imports
(billions of
dollars)
Current
Account
Balance
(billions of
dollars)
French
Francs
Per
U.S.Dollar
German
Marks
Per
U.S. Dollar
Yen
Per
U.S. Dollar
Multilateral
Exchange
Value of the
U.S. Dollar
1949 12 7 0.9
1950 10 9 -1.8 3.50
1951 14 11 0.9 3.50 4.20
1952 13 11 0.6 3.50 4.20
1953 12 11 -1.3 3.50 4.20
1954 13 10 0.2 3.50 4.20
1955 14 12 0.4 3.50 4.21
1956 18 13 2.7 3.50 4.20
1957 20 13 4.8 3.80 4.20 360
1958 16 13 0.8 4.21 4.19 360
1959 16 15 1.3 4.91 4.18 360
1960 20 15 2.8 4.90 4.17 360
1961 21 15 3.8 4.91 4.02 361
1962 22 17 3.4 4.90 4.00 361
1963 23 18 4.4 4.90 3.99 361
1964 27 19 6.8 4.90 3.98 362
1965 28 22 5.4 4.90 3.99 361
1966 31 26 3.0 4.91 4.00 362
1967 32 28 2.6 4.92 3.99 362 120
1968 35 34 0.6 4.95 3.99 361 122
1969 38 37 0.4 5.20 3.93 358 122
1970 45 41 2.3 5.53 3.65 358 121
1971 46 47 -1.4 5.51 3.48 348 118
1972 52 57 -5.8 5.04 3.19 303 109
1973 74 72 7.1 4.45 2.67 271 99
1974 101 105 2.0 4.81 2.59 292 101
1975 110 99 18.1 4.29 2.46 297 99
1976 118 125 4.3 4.78 2.52 296 106
1977 124 153 -14.3 4.91 2.32 268 103
1978 145 177 -15.1 4.51 2.01 210 92
1979 184 213 -0.3 4.25 1.83 219 88
1980 226 249 2.3 4.23 1.82 227 87
1981 239 268 5.0 5.43 2.26 220 103
1982 215 251 -11.4 6.58 2.43 249 116
1983 207 273 -44.0 7.62 2.55 237 125
1984 226 336 -99.0 8.74 2.85 238 138
1985 222 343 -124.0 8.99 2.94 238 143
1986 226 370 -153.2 6.93 2.17 168 112
Source: Bureau of Economic Analysis, U.S. Department of Commerce, Federal Reserve Bulletin, and Economic
Report of the President 1999.