ABSTRACT
In the second quarter of 1949, both total GNP and durable goods output reached the lowest levels in their decline, rising the following quarter. Building and construction output rose strongly in 1949 II after its previous standstill and the output of nondurable goods rose again after their brief recession. Between 1949 II and 1950 II GNP rose by $26 billions or 8.1 per cent, interrupted only in 1949 IV by the steel strike which affected output of durable goods. The composition of this GNP increase is as follows: Change in GNP and Components 1949 II to 1950 II (1958 prices)
|
(based on seasonally adjusted, quarterly totals at annual rates) |
|
|---|---|
|
$ billion |
|
|
PCE (excluding autos) |
9.2 |
|
Non-residential fixed investment (excluding autos) |
1.1 |
|
Residential construction |
7.5 |
|
Exports |
–3.2 |
|
Imports |
0.9 |
|
Government purchases |
–2.5 |
|
Auto output |
3.1 |
|
CBI (non farm; excluding autos) |
9.9 |
|
Durable goods: |
|
|
Output |
13.1 |
|
Final sales |
3.1 |
|
CBI |
10.0 |
|
Nondurable goods: |
|
|
Output |
1.6 |
|
Final sales |
–0.7 |
|
CBI |
2.3 |
|
GNP |
26.0 |
