Full text of The National Income and Product Account : Third Quarter 1948

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WJ

BUSINESS STATISTICS

J-HE DATA here are a continuation of the statistics published in the 1947 Statistical Supplement to the SURVEY OF CURRENT BUSINESS.
That volume contains monthly data for the years 1941 to 1946, and monthly averages for earlier years back to 1935 insofar as available; it also
provides a description of each series and references to sources of monthly figures prior to 1941. Series added or revised since publication of the
1947 Supplement are indicated by an asterisk (*) and a dagger (f), respectively, the accompanying footnote indicating where historical data and
a descriptive note may be found. The terms "unadjusted" and "adjusted" used to designate index numbers refer to adjustment of monthly
figures for seasonal variation.
Data subsequent to October for selected series will be found in the Weekly Supplement to the Survey.
1948

1947

Unless other-wise stated, statistics through
1946 and descriptive notes may be found in
the 1947 Supplement to the Survey

October

November

December

January

February

March

April

May

June

July

August

September

October

GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCTf
Seasonally adjusted quarterly totals at annual rates:
National income, total
bil. of dol
Compensation of employees, total
do
Waees and salaries, total
_ do _
Private
do
Military
do...
Government civilian
do
Supplements to wages and salaries. _ do
Proprietors' and rental income, total
do
Business and professional
do
Farm
do
Rental income of persons __
do. _
Corporate profits and inventory valuation adjustment total
bil of dol
Corporate profits before tax, total
do
Corporate profits tax liability
do
Corporate profits after tax
do
Inventory valuation adjustment
do
Net interest
do

212.8
132.2
127.1
109.5
3.6
14.0
5.0
48.6
24.7
16.5
7.4

215 1
133.7
128.8
111.1
3.5
14.2
4.9
50.6
25.0
18.0
7.5

221 7
134.2
129.3
111.2
3.6
14.5
5.0
51.8
25.4
18.9
7.6

227 3
140 6
135.6
116 4
3.7
15 6
5.0
50 2
24 8
17 9
7 5

27.5
32.4
12.7
19.7
-4.9
4.5

26 2
31.4
12 2
19.2
—5 3
4.6

30.9
33.4
13.0
20.4
—2 5
4.7

31.7
35.6
13.9
21.7
-3.9
4.8

Gross national product total
do
Personal consumption expend itures,total do
Durable goods
do
Nondurable goods
do
Services
do
Gross private domestic investment
do
New construction
do
Producers' durable equipment
do
Change in business inventories
do
Net foreign investment
do
Government purchases of goods and services,
total
bil of dol
Federal (less Government sales)
do
State and local
do

243.8
171.1
22.1
100.2
48.8
35.4
14.0
18.9
2.5
8.2

244 9
172. 1
21 2
101.2
49 7
38.7
14 3
19.8
4.6
3.9

250 4
176,5
22 6
103.2
50 6
37.6
14.4
20.9
2.3
2.9

255.9
178.5
23.6
102.9
51 9
39.0
14 8
21.4
2 8 __4,7

29.0
15.5
13.5

30 1
17.6
13.7

33.5
19.3
14.7

37 7
22.6
15 5

Personal income, total
Less: Personal tax and nontax pavments
Equals: Disposable personal income
Personal savings §

203.1
22.2
180.9
9.7

207.3
23.2
184. 1
12.0

209.0
20.8
188 2
11.7

213. 9
20.2
193.7
15.2

do
do
do
do

PERSONAL INCOME BY SOURCEf
Seasonally adjusted, at annual rates:
Total personal income . _ _
bil. of dol
Wage and salary receipts, total
do
Employer disbursements, total _ ___ do
Commodity-prod ucing industries
do
Distributive industries do
Service industries
..
do
Government
do
Less employee contributions for social insurance
_
bil. of dol
Other labor income
do
Proprietors' and rental income _ _ _ _ do
Personal interest income and dividends. . _do
Total transfer payments
do
Total nonagricultural income. _ _

do

124.7
55.9
36.0
15.2
17 6

201.4
125.5
127.3
57.4
37.1
15.2
17 6

207.7
127.4
129.4
59.2
37.4
15.2
17.6

209.4
127.5
129.7
59.3
37.5
15.3
17.6

200.8
126.9
128.9
58.0
37.8
15.4
17 7

205.6
125. 7
127.8
57.0
37.5
15.4
17 9

207.4
125.0
127.0
56.3
37.2
15.6
17 9

207.2
126.8
128.8
57.2
37.9
15 6
18 1

212.3
129.7
131.9
59.6
38.2
15 8
18 3

212.9
131.8
134.0
60.0
39.0
16 2
18 8

214 6
134 3
136.5
61.3
39 5
16 3
19 4

2.0
19
47.5
15.9
12.0

1.8
1.9
47.1
16.1
10.8

2.0
1.9
51.3
16.2
10.9

2.2
1.9
52.4
16.5
11.1

2.0
2.0
50.0
16.6
11.3

2.1
1.9
49.3
16.6
12.1

2.0
2.0
51.9
16.7
11.8

2.0
2.0
50.7
16.8
10.9

2.2
2.0
52.8
16.8
11.1

2.2
2 1
51.0
17.0
11.0

2 2
2 1
50 0
17.3
10.9

179.7

181.4

184.2

184.7

184.5

184.1

183.7

184. 4

187.7

189. 3

191.6

200.0
122. 7

r

r

214.9
134.7
137. 0
'62.0
r
39.3
T
16.1
19.6

215.6
134.9
137.2
62.0
39.5
16.0
19.7

2.3
2.1
'60.1
M7.5
r
10.5

2.3
2.1
50.7
17.7
10.2

192. 5

192.8

NEW PLANT AND EQUIPMENT EXPENDITURES
All industries, total
mil. of. dol
4,170
4,940
* 4,1 950
4,810
Electric a n d g a s utilities _ _ _ _ _ _
do
620
500
690
640
1
2,290
Manufacturing
do
1 800
21 160
2 140
Mining
_ _ _ _
do
210
180
200
200
1
Railroad
do
300
270
360
300
1
190
Other transportation
_ _ _
do
180
170
190
1
1,240
1,340
Commercial and miscellaneous
do
1. 360
1,340
r
Revised.
i Estimated based on anticipated capital expenditures of business.
§ Personal savings is excess of disposable income over personal consumption expenditures shown as a component of gross national product above.
f Revised series. Estimates of national income, gross national product, and personal income have been revised beginning 1944; see pp. 27-29 of the July 1948 Survey for the revised figures.
815027°—48——4
S-l