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:
1977-874.32.31.72.5
1977-821.2-.8-.8.2
1982-877.65.44.34.9
1987-901.71.6
1977-901.72.3
Part B—Previously published measure:
1977-872.5
1977-82-.9
1982-876.1
Part C—Provisional estimates of measures shown in part A:
1977-874.72.61.62.6
1977-82.8-.7-1.3.1
1982-878.86.04.55.2

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.