Exhibit 1.—Fixed-Weighted and Benchmark-Years-Weighted Indexes of Real Gross Product in Manufacturing: Average Annual Rate of Change Over Selected Periods

	Fixed-weighted indexes			Benchmark-years-weighted index
	1977 weights	1982 weights	1987 weights
Part A—Measures calculated from revised data:
1977-87	4.3	2.3	1.7	2.5
1977-82	1.2	-.8	-.8	.2
1982-87	7.6	5.4	4.3	4.9
1987-90			1.7	1.6
1977-90			1.7	2.3
Part B—Previously published measure:
1977-87		2.5
1977-82		-.9
1982-87		6.1
Part C—Provisional estimates of measures shown in part A:
1977-87	4.7	2.6	1.6	2.6
1977-82	.8	-.7	-1.3	.1
1982-87	8.8	6.0	4.5	5.2

NOTE.—With fixed-weighted indexes, real gross product is obtained by the double-deflation method as the difference between real gross output and real intermediate inputs. For the benchmark-years-weighted quantity index, the following relationship was used to obtain the gross product index: (I_{GPO})^{\theta_2} = {I_{GO}}/{(I_{II})^{\theta_1}}$, where I_{GPO} is the derived benchmark-years-weighted index of gross product, I_{GO} is a benchmark-years-weighted quantity index of gross output, I_{II} is a benchmark-years-weighted quantity index of intermediate input, and \theta_1 and \theta_2 are the average current-dollar shares of gross output accounted for by intermediate inputs and value added. Use of this relationship provides a close approximation to a benchmark-years-weighted quantity index.