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SURVEY OF CUREENT BUSINESS 6 August 1059 Table 1-18.—Relation of Gross National Product, National Income, and Personal Income, Seasonally Adjusted Quarterly Totals at Annual Rates, 1957-58 and First Two Quarters 1959 The numbering of the following tables conforms to that used in U.S. Income and Output, recently issued as a supplement to the SURVEY. This volume presents a full explanation of the new quarterly reporting system, as well as data for 1946-57. [Billions of dollars] 19£ 9 1958 1957 1958 I Table 1-3.—Gross National Product or Expenditure, Seasonally Adjusted Quarterly Totals at Annual Rates, 1957-58, and First Two Quarters 1959 [Billions of dollars] 1958 19,59 1957 1958 Gross national product 442.5 441.7 431.0 Personal consumption expenditures 284.8 293.0 287.3 290.9 294.4 299.1 303.9 311.2 40.3 37.6 141.9 113.4 36.9 139.5 111.0 37.1 143.1 114.2 39.8 143.6 115.7 41.3 145.3 117.4 44.1 147.7 119.4 Durable goods Nondurable goods Services - 137.7 106.7 Gross private domestic investment II I III IV 434.5 444.0 457.1 470.2 484.5 36.7 141.5 112.7 66.6 54.9 52.4 51.3 54.2 61.3 69.8 77.5 36 1 17.0 19 0 35.8 18.0 17.7 35.5 17.1 18.4 34.6 16.9 17.7 35.4 18.0 17.4 37.3 19.9 17.4 39 7 21.9 17.8 41.0 23.1 17.9 28.5 22.9 23.8 22.6 22.2 23.2 23.9 26.0 Change in business inventories— total Nonfarm . _ _ .__ _ 2.0 1.2 -3.8 -4.9 -6.9 -8.1 -5.8 -7.0 -3.4 -4.5 .8 -.1 61 10.4 5.4 9.8 Net exports of goods and services (GNP basis) 4.9 1.2 2.0 1.2 1.6 .2 —.9 -1.8 26.2 21.3 22.6 21.3 22.2 20.2 22.3 21.1 23.1 21.5 22.7 22.5 21 5 22.4 22.1 23.9 New construction Residential nonfarm Other Producers' ment _ _ durable equip- Exports Imports. Government purchases of goods and services Less: Capital consumption allowances Indirect business tax and nontax liability Business transfer payments-Statistical discrepancy Plus: Subsidies less current surplus of government enterprises II I Gross national product Equals: National income _ Less: Corporate profits and invenventory valuation adjustment Contributions for social insurance Excess of wage accruals over disbursements Plus: Government transfer payments to persons _ Net interest paid by government _ _ _ - _ _ - _ Dividends Business transfer payments- .. Equals: Personal income 86.2 92.6 89.3 91.1 93.8 96.5 97.4 97.7 Federal _National defense Other --- _ Less : Government sales 49.4 44.3 52.2 44.5 51.3 44.3 53.1 44.5 54.2 45 3 8.1 53.8 45 8 53.9 46 2 5.5 50.1 44.0 .3 State and local 36.8 .4 .5 40.5 6.6 .5 39.2 8.9 7.5 .3 .5 39.7 40.8 9.4 8.3 .3 8.0 .6 42 2 43 6 43.8 IV I II 434.5 444.0 457.1 470.2 484 5 III II 442.5 441.7 431.0 36 9 37 9 37 5 37 6 38 0 38 5 39 3 39 9 38 1 1.7 .5 39 0 1.7 -2.1 38 3 1.7 -1.2 38 9 1.7 -1.5 39 1 1.7 -3.3 39 9 1.7 —2 4 40 7 1.7 .0 41 7 1.7 (i) 11 10 1l 1i 10 10 8 366.5 366.2 355.8 358.9 369.5 380.4 389.4 (i) 41 7 36 7 31 5 33 8 38 0 43 5 45 5 (i) 14 6 15 1 14 8 14 8 15 3 15 5 17 5 17 9 .0 .0 .6 .6 -1 3 o 0 o 20.0 24.4 22.8 24.9 25.4 25. 1 24.7 24 8 6.2 12.5 1.7 6.2 12 4 1.7 6.2 12.7 1.7 6.2 12 6 1.7 6.1 12 6 1.7 61 12 0 1.7 6.3 12 8 1.7 6.6 13 0 1.7 350 6 359.0 352.2 355.0 363 4 366.3 371 8 381 1 1. Not available. Table II-2.-—Personal Income and Its Disposition, Seasonally Adjusted Quarterly Totals at Annual Rates, 1957-58 and First Two Quarters 1959 [Billions of dollars] 19 58 1957 1958 I II 195 9 III IV i 350.6 359.0 352.2 355.0 363.4 366.3 371. 8 Wage and salary disburse238.5 239.4 234.6 235. 4 242. 3 245 1 250.9 ments . Commodity-producing in96.3 102.2 dustries .98 2 100 9 104.2 95.8 97.8 Manufacturing only 74.9 75.8 80.6 82.1 76.9 76.7 79.1 63.1 63.4 63.4 64.1 63.8 Distributive industries 66.0 64.5 Service industries _ _ ___ 32.7 34.6 33.7 34.3 34.9 35.3 36.0 41.2 40.2 44.7 44 3 42.2 45.2 Government 43.2 9 3 Other labor income 9 1 9.3 9 3 9 3 9 7 9 4 46. 1 45.9 Proprietors' income 44.5 46.6 46.9 46.8 47.4 Business and professional, - - 32.7 32.4 31.6 32.0 32.6 33.2 33.7 Farm 14 6 13 2 14 2 13 9 11 8 14 1 14 2 Personal Income _ _ Table I—5.—-Gross National Product or Expenditure, Seasonally Adjusted Quarterly Totals at Annual Rates, in Constant Dollars, 1957-58, and First Two Quarters 1959 [Billions of 1954 dollars] 1957 19 58 19,59 1958 I II III IV I II 408.3 399.0 391.0 393.1 400.9 410.8 420.6 431.8 270.8 273.3 268.7 271.1 275.0 278.4 282.3 288.3 Durable goods 38 5 Nondurable goods _ _ _ _ _ .. 132.6 Services 99.8 35.7 133.7 103.8 35.2 131.3 102.2 35. 0 132.7 103.4 35.3 135.3 104.4 37.5 135. 6 105.3 38.8 137.3 106.2 58 5 47.3 45.0 44.2 46.6 53.0 59.7 65.7 31 9 15.4 16.5 31.5 16.2 15.2 31.3 15.4 15.9 30.5 15.3 15.1 31.2 16.3 15.0 32.6 17.8 14.8 34.3 19.3 15.0 35.1 20.2 14.9 24.6 19.3 20.1 19.0 18.6 19.3 19.8 21.3 2.0 1. 1 -3.5 -4.4 —6.4 -7.2 -5.3 -6.1 -3.2 -4.2 1. 1 .0 5.6 4.7 9.2 8.6 Gross national product Personal consumption expenditures. Gross private domestic investment New construction Residential nonfarm Other Producers' durable equipment Change in business inventories— total Nonfarm only _____ Net exports of goods and services (GNP basis) Government purchases of goods and services Federal State and local _ _ 3.8 .0 .8 .1 .5 -1.4 -2.7 41.2 139.7 107.4 -3.5 75.1 78.4 76.5 77.7 78.9 80.8 81.3 81.4 42 8 32.3 44. 1 34.4 42 8 33.7 43.9 33.8 44.3 34.6 45.2 35.5 44.9 36.4 45.0 36.4 7 II 381. 1 259 4 109. 6 86.4 67.4 37.0 45 4 9 9 46. 6 34.5 12 1 Rental income of persons Dividends Personal interest income 11.5 12 5 19.5 11.8 12 4 20.4 11.7 12 7 20.2 11.8 12 6 20.3 11.9 12 6 20.5 11.9 12 0 20.8 12.0 12 8 21.3 12.0 13 0 22.0 Transfer payments Old-age and survivors insurance benefits. State unemployment insurance benefits Veterans' venefits Other 21.7 26 1 24.4 26 6 27 1 26 8 26 4 26 5 7.3 8.5 7.9 8.6 8.7 8.8 9.4 10.2 1.8 4 4 8 3 3.9 4 6 9.1 3.1 4 6 8.9 4.2 4 6 9.2 4.8 4 5 9.1 4.2 4 5 9.3 2.9 4 5 9.5 2 2 4 5 9 6 6.7 7.0 6.9 6.9 7.1 7.1 8. 1 8.3 42.7 37.4 5.4 42.6 36.7 58 41.9 36.2 5. 7 42. 1 36.3 5.8 42.9 37.1 5.9 43 4 37.4 6.0 44.4 38.2 6.2 45.8 39.5 6.3 Equals : Disposable Personal Income 307.9 316.5 310.3 312.9 320.4 322.9 327.4 335.3 Less: Personal consumption expenditures - -_ 284.8 293.0 287.3 290.9 294.4 299.1 303. 9 311.2 23 1 23 5 22.9 22.0 26.0 23.7 23.5 24.1 292.9 295.2 290.0 291.6 Less: Personal contributions for social insurance __ . Less: Personal tax and nontax payments Federal State and local Equals* Personal saving Addendum: Disposable personal income in constant (1954) dollars 299.2 300.4 304.3 310.7 y BUSINESS STATISTICS JL HE STATISTICS here are a continuation of the data published in the 1957 edition of BUSINESS STATISTICS, biennial Statistical Supplement to the SURVEY OF CURRENT BUSINESS. That volume (price $2) contains monthly (or quarterly) data for the years 1953 through 1956 and monthly averages for all years back to 1929 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1953. Series added or significantly revised since publication of the 1957 BUSINESS STATISTICS are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 1956 issued too late for inclusion in the aforementioned volume appear in the monthly SURVEY beginning with the July 1957 issue. Except as otherwise stated, the terms "unadjusted" and "adjusted" refer to adjustment for seasonal variation. Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights. Unless otherwise stated, statistics through 1956 and descriptive notes are shown in the 1957 edition of BUSINESS STATISTICS 1958 June July 1959 DecemAugust SeptemOctober November ber ber January February March April May July June GENERAL BUSINESS INDICATORS NATIONAL INCOME AND PRODUCT Seasonally adjusted quarterly totals at annual rates :f National income, total bil.ofdol Compensation of employees, total Wages and salaries, total Private _ _ Military Government civilian _ _ Supplements to wages and salaries. _do do _ do do do _ _ do 358.9 369.5 380.4 389 4 253. 2 236.0 193.2 9.7 33.2 17.2 258. 5 241. 1 197. 1 10.0 34 0 17.5 262.9 245.1 200 8 9.9 34 4 17.8 269 9 250.9 206 2 9 8 34 8 19 0 278 9 259. 4 214 0 9 8 35 6 19 6 46 34 12 12 Proprietors' income, totaled do Business and pro fessionalc? - do __ Farm __ _ do_ _ Rental income of persons _ _ _ _ do Corporate profits and inventory valuation adjustment, total. _. _bil.ofdol _ Corporate profits before tax, total.. _ __ do _ Corporate profits tax liability __do___ Corporate profits after tax do_ Inventory valuation adjustment _do__ _ 45.9 32.0 13.9 11.8 46.8 32 6 14.2 11.9 47.4 33 2 14 1 11.9 46 9 33.8 33 6 16.5 17.1 .2 38.0 38 3 18 8 19.5 43.5 44 6 21 9 22.7 -1.1 45 5 46 5 22 6 23 8 -9 Net interest do 14 1 14 4 14 7 15 1 15 4 ...do 434.5 444.0 457. 1 470.2 484.5 Personal consumption expenditures, total. ..do Durable goods do_ _ Nondurable goods _._do__ _ Services. _ _ do_ _ 290.9 36 7 141. 5 112 7 294.4 37 1 143. 1 114 2 299.1 39 8 143 6 115 7 303 41 145 117 9 3 3 4 311 44 147 119 2 1 7 4 Gross private domestic investment, total New construction Producers' durable equipment Change in business inventories do do _ _ _ _.do_ _ __do_ . 51 3 34.6 22 6 —5 8 54 35 22 —3 2 4 2 4 61 3 37.3 23 2 8 69 39 23 6 8 7 9 1 77 41 26 10 5 0 0 4 Net exports of goods and services^ do ._ Exports do Imports. __ _ _ . _ _do^ Government purchases of goods and services, total \ bil. ofdoL. Federal (less Government sales) 1 do National defense 9 - do State and local do 12 22.3 21 1 16 23. 1 21 5 2 22.7 22 5 — 9 21 5 22 4 18 22 1 23 9 44 3 39 7 91.1 51 3 93.8 53 1 44 5 40 8 96.5 54 2 45 3 42 2 97 53 45 43 4 8 8 6 97.7 53 9 46 2 43 8 355 0 42 1 312.9 363 4 42 9 320.4 366 3 43 4 322.9 371 8 44 4 327 4 381 1 45 g 335.3 22 0 26 0 23 7 23 5 24 1 Gross national product, total 1 Personal income, total___ _ _ do Less: Personal tax and nontax payments do Equals: Disposable personal income do_ _ Personal saving§ ___do PERSONAL INCOME, BY SOURCE Seasonally adjusted, at annual rates:f Total personal income bil. of dol Wage and salary disbursements, total do __ Commodity-producing industries, total do Manufacturing only do Distributive industries. _ -do Service industries _ do Government ... do Other labor income do Proprietors' income: Business and professional do Farm _ do Rental income of persons Dividends ._ ._ Personal interest income Transfer payments Less personal contributions for social insur do do _ _ do_.. do do- _ - Q 13 2 12 0 6 5 1 0 357. 1 * S59. 9 i 363. 5 i 362. 4 364.2 364.3 367.5 366.9 369.0 371.0 375.4 379.0 381.3 ' 383. 8 384. 1 237. 9 96.7 75.7 63.5 34.6 i 43.1 9.3 i 243. 2 97.2 76.1 63.8 34.8 i 47.4 9.3 i 241. 3 97.9 76.7 64.3 35.0 144.1 9.3 242. 5 99.3 77.9 64.1 35.0 44.1 9.3 242.1 98.7 76.9 64.1 35.2 44.1 9.3 246.1 101.8 79.7 64.7 35.3 44.3 9.4 247.0 102.2 80.6 64.7 35.6 44.4 9.4 248.7 102.8 80.9 65.6 35.6 44.6 9.6 250.1 103.5 81.7 66.0 36.0 44.7 9.7 254.0 106.3 83.8 66.6 36.4 44.8 9.8 257. 3 108.6 85.4 66.9 36.8 45.0 9.9 259. 8 109.8 86.7 67.5 37.1 45.4 9.9 ' 261. 7 '110.9 r 87. 7 '68.0 37.2 ' 45. 6 10.0 261.2 109. 8 86.7 68.2 37.3 45. 9 10.1 32.3 13.4 32.4 14.1 32.6 14.2 32.8 14.3 33.2 14.2 33.1 14.1 33.4 14.2 33.5 13.5 33.7 13.2 34.0 12.9 34.3 12.2 34.5 12.0 '34.7 12.1 34.8 12.2 11.8 12.6 20.4 26.4 7.0 11.8 12.6 20.4 26.8 7.2 11.9 12.6 20.5 27.2 7.1 11.9 12.6 20.6 27.3 7.1 11.9 12.6 20.7 27.4 7.1 11.9 12.6 20.8 26.6 7.1 11.9 10.8 21.0 26.3 7.1 12.0 12.7 21.1 26.1 8.1 12.0 12.8 21.3 26.4 8.1 12.0 12.8 21.6 26.6 8.2 12.0 12.9 21.8 26.9 8.3 12.0 13.0 22.0 26.4 8.3 12.0 13.1 22.2 '26.4 8.4 12.0 13.3 22.4 26.5 8.4 1 1 346.3 1 339. 9 i 345. 7 i 344. 5 346.1 362. 7 365.3 «• 367. 8 368.1 348.8 351.6 Total nonagricultural income do 349.6 353.8 358. 5 T Revised. 1 Italicized total excludes and other footnoted figures include lump-sum retroactive salary payments to Federal employees; disbursements (at seasonally adjusted annual rates) amounted to $0.2 billion in June; $3.6 billion in July; and $0.2 billion in August. fRevised series. Estimates of national income and product and personal income have been revised back to 1946; revisions for 1946-55 appear on pp. 12 fl. of the July 1958 SURVEY and for 1956-April 1958 on pp. 10 ff. of the July 1959 SURVEY. ^Includes inventory valuation adjustment. HFor data in constant dollars and revised definitions for several components (also data back to 1950), see pp. 10 ff. of the December 1958 SURVEY. 9 Government sales are not deducted. §Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above. 515099°—59- S-l