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SURVEY OF CURRENT BUSINESS

February 1976

NATIONAL INCOME AND PRODUCT TABLES
1974
1974

1975*

III

1975
IV

I

II

1974
III

IV

1974

1975*

III

1975
IV

Seasonally adjusted at annual rates

I

II

III

IV

Seasonally adjusted at annual rates

Billions of current dollars

Billions of 1972 dollars

Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
1,406.9 1, 498. 8 1,424.4 1,441.3 1, 433. 6 1, 460. 6 1, 528. 5 1,572.5 1, 210. 7 1, 186. 0 1, 210. 2 1, 186. 8 1, 158. 6 1, 168. 1 1, 201. 5

Gross national product

1 215.9

885.9

Durable goods
Nondurable goods
Services

963.8

907.7

908.4

926.4

950.3

977.4 1, 001. 0

759.8

766.9

767.2

748.9

752 3

764 1

771 6

779.4

121.9
375 7
388 3

Personal consumption expenditures

128.1
409 8
426 0

128.9
383 9
394 9

117.3
387 1
404 0

118.9
394.1
413.4

123.8
404 8
421 6

131.8
416 4
429 2

137.6
423 7
439 7

112.5
303 0
344 4

109.5
306 6
350.7

116.8
304 7
345.7

102.9
298 9
347.2

104.0
300 8
347.5

106.5
306 9
350 8

112.3
308 0
351 2

115.3
310 7
353.3

212.2

182.6

207.6

210.3

168.7

161.4

194.9

205.4

180.0

138.3

173.2

166.9

129.7

124.1

147.8

151.4

Fixed investment
Nonresidential .
Structures..
. . _ .
Producers' durable equipment
. .
Residential
Nonfarm structures
Farm structures
Producers' durable equipment..

202 5
147 9
54 4
93.5
54 6
52 2
10
13

197 3
148 5
52.7
95.8
48 7
46 8
6
13

203 1
148.1
54.0
94.1
55 0
52 7
.9
1.4

199 8
151 1
56.1
95.0
48 7
46 3
12
1.3

193 5
149.3
54.9
94.4
44 2
42 6
4
12

191 1
146.1
51.1
95.0
45 0
43 1
5
1.3

197 1
146.7
51.2
95.6
50 4
48 2
g
14

207 4
151 9
53.6
98.3
55 4
53 3
7
14

172 2
127 5
42.7
84.9
44 7
42 6
g
1.3

148.8
112.2
37.2
75.1
36 6
35.0
.4
1.1

169 0
125.0
40.6
84.4
44.1
42.0
.7
1.3

159.3
120.8
40.5
80.3
38.5
36 4
.9
1.2

148.7
115.2
38.9
76.3
33 6
32.3
.3
1.0

144 8
110.8
36.2
74.7
34 0
32.4
.4
1.1

148 7
110 6
36.2
74.5
38 0
36 2
.6
1.2

153.0
112.3
37.4
74.9
40.7
39.0
.5
1.2

Change in business inventories
Nonfarm
Farm

9 7
11 6
—1 9

—14 6
—16 5
19

44
76
—3 2

10 4
13 7
—3 2

—24 8
—23 3
—1 5

—29 6
—29 6
i

—2 1
—5 7
36

—2 0
—7 5
56

7 7
85
— 8

—10.5
-11.8
13

42
5.6
—1 4

7.6
9.0
—1 5

-19.0
-17.9
—1 2

-20.7
-20.6
_ i

O

-3.3
25

-1.6
-5.3
37

Gross private domestic investment

. -

.

Exports
Imports
Government purchases of goods and services
Federal
National defense
Nondefense
State and local .

77

21 2

32

8 2

17 3

24 2

22 1

21 2

16 6

23.3

15.1

17.4

21.5

24.9

23.5

23.6

144 2
136 5

Net exports of goods and services .

147 7
126 5

148 6
145 5

153 6
145 3

148 2
130 9

140 7
116 4

148 5
126 4

153 5
132 2

97 g
81 0

90 5
67.2

96 9
81 9

95 7
78 3

90.7
69.2

86 8
62.0

90.8
67.3

93.9
70.3

301 1

331 2

305.9

314 4

321.2

324 7

334 1

344 8

254 3

257.6

254.7

253.6

255.1

254.9

258.7

119 2
82 1
37 1
205 5

124
84
39
209

95 0

94 3

95 7

94 7

93 7

92 4

94.9

96.1

159 3

163.3

159 0

158.9

161.4

162.5

163.8

165.5

111 7
77 4
34 3
189 4

123
84
39
208

2
0
2
0

113 6
78 4
35 1
192 3

118 2
80 5
37 7
196 3

119 4
81 4
38 0
201 9

2
9
3
9

129 9
87 4
42 5
214 8

261.6

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
1 406 9 1 498 8 1 424 4 1 441 3 1 433 6 1 460 6 1 528 5 1 572 5 1 210 7 1 186 0 1 210 2 1,186 8 1, 158. 6 1, 168. 1 1,201.5

Gross national product
Final sales
Change in business inventories...
Goods

1,215.

1 397.2 1 513 4 1 420 0 1 430 9 1 458 4 1 490 2 1 530 6 1 574 4 1 203 0 1, 196. 6 1 206.0 1, 179. 3 1, 177. 6 1, 188. 7 1, 202. 4
-.8
7.6 -19.0 -20.7
4.2
—2.1
9.7 —14.6
4.4
10.4 —24.8 —29 6
—2 0
7.7 —10.5

1,217.
-1.

636 3

Final sales
Change in business inventories

676 3

644 6

647 7

635 4

653 9

698 9

16 8

549 9

530.1

552.4

531.9

510.1

518.4

542.7

549.

540.7
—10.5

548.2
4.2

524.4
7.6

529.2
-19.0

539.0
-20.7

543.5
-.8

551.
-1.

626.5
9.7

690 9
—14 6

640 2
4.4

637 3
10 4

660 2
—24.8

683 5
—29.6

701.1
—2.1

718 7
—2.0

542 2
7.7

Durable goods
Final sales
Change in business inventories .

246 1
238 5
75

251 1
261 7
—10 6

251 7
245 8
59

254 1
239 3
14 9

229 2
243 8
—14 6

243 3
258 8
—15 5

261 9
267 5
—5 6

269 9
276 7
—6 8

223 5
217 7
58

203.4
211 4
—7 9

226.0
221 6
4.4

215.9
205.2
10.7

191.6
203.4
-11.7

198.2
209.7
-11.5

210.7
214.3
-3.7

213.
218.
-4.

Nondurable goods. _.
Final sales
Change in business inventories

390 2
388 0
2.2

425 2
429 2
—4 0

393 0
394 4
—1 4

393 6
398.0
—4 4

406 2
416 4
—10 2

410 6
424 7
—14.1

437 0
433 5
35

446 9
442 1
4 8

326 5
324 5
1.9

396 7
329.3
-2.6

326.4
326.6
-.2

316.1
319.2
-3.1

318.5
325.8
-7.3

320.2
329.4
-9.2

332.0
329.2
2.8

336.
332.
3.

Services

624 1

681 2

632 5

649 7

659 3

672 0

688 1

705 4

544 7

554.4

545.1

548.1

548.1

552.5

556.7

560.

Structures

146 6

141 3

147 2

143 9

138 9

134 6

141 4

150 3

116 1

101.5

112.7

106.8

100.4

97.2

102.2

106.

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product _ .
Gross domestic product
Business
_
Nonfarm *>
Farm
Statistical discrepancy
Residual^
Households and institutions
Government-.
Federal
State and local _ _
Rest of the world

1 406 9 1 498 8 1 424 4 1 441 3 1 433 6 1 460 6 1 528 5 1 572 5 1 210 7 1 186 0 1 210 2 1, 186. 8 1, 158. 6 1, 168. 1 1,201.5
1 392 5 1 488 4 1 410 6 1 426 6 1 424 0 1 450 6 1 516 9 1 562 2 1 203 7 1 181 3 1 204 6 1, 180. 3 1, 154. 3 1, 163. 5 1, 196. 1

1,215.9

997 1 1 024 7 1,000.1
965 8
991 8
965 6
31.9
31 0
35 1

972.1
939.6
35.0

979.5 1,011.1
954.3 977.1
36.5
32.3

1,025.7

-2.6

-7.1

9

1 186 6 1 262 6 1 203 11 °13 2 1 205 5 1 227 4 1 289 2 1 3 8 3 1 024 4
1 138 7 1 217 2 1 155 6 1 161 7 1 162 9 1 191 3 1 237 5
993 5
48 5
45 1
50 1
48 6
45 8
31 5
45 1
55 0
54 4
g
24
29
32
4 6
89
32
5
44 8

49 5

45 6

46 5

47 5

50 2

51 6

38 5

36.8

-2.5

—3 7

2 0

2.4

39 2

38.8

38.4

38.8

39.2

39.4

39.2

144.8
47.8
97.0

145.7
47.8
97.8

146.3
47.7
98.7

4.5

5.4

4.6

161 1
54 7
106 4

176 3
58 8
117 4

161 9
54 3
107 6

166 9
56 9
110 0

170 9
57 6
113 3

174 5
58 1
116 4

177 4
58 6
118 8

182 2
61 0
121 2

140 8
47 9
99 g

145 1
47 8
97 3

141.1
48.0
93 1

141.8
47.9
94.0

143.5
47.9
95.7

14 4

10 4

13 7

14 8

9 6

10 0

11 6

10 3

7 0

4 7

5.6

6.5

4.3

* Corporate profits (and related components and totals) for 1975 are preliminary and subject
to revision next month.
* Preliminary.
1. Equals QNP in constant dollars measured as the sum of final products less GNP in
constant dollars measured as the sum of gross product by industry.




48 7

1,211.3

NOTE.—Final sales is classified as durable or nondurable by type of product. Change in
business inventories is classified as follows: for manufacturing, by the type of Product produced by the establishment holding the inventory; for trade, by the type of product sold t>y we
establishment holding the inventory; for construction, durable; and for other industries,
nondurable.

CURRENT BUSINESS STATISTICS

J_HE STATISTICS here update series published in the 1973 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURKENT BUSINESS. That volume (available from the Superintendent of Documents for $6.80) provides a description of each series, references
to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1969 through 1972 (1962-72 for major quarterly
series), annually, 1947-72; for selected series, monthly or quarterly, 1947-72 (where available). Series added or significantly revised after the 1973
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 1972 issued too late for
inclusion in the 1973 volume appear in the monthly SURVEY beginning with the August 1973 issue. Also, unless otherwise noted, revised monthly
data for periods not shown herein corresponding to revised annual data are available upon request.
The sources of the data are given in the 1973 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 189-90. 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.
1972

Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS

1973

1974

1972
IV

I

II

1975

1974

1973
III

IV

I

Annual total

II

III

I

IV

III

II

IV i

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT!
1,433.6

1,460.6

1,528.5

1,572.5

733.0

808.5

885.9

761.8

785.7

800.5

818.4

829.5

849.5

877.8

907.7

908.4

926.4

950.3

977.4

1,001.0

Durable goods total?
..
..do _ _
Motor vehicles and parts
-do
Furniture and household equipment . do

111.2
50.6
44.8

122.9
54.4
50 7

121 9
48 0
54 7

117.6
53.8
47 1

124 8
58.2
49 3

124 4
56.4
50 4

123.7
54.4
51 2

118.9
48.4
51 9

118 4
46.1
53 4

123.1
48.7
55.0

128.9
53.5
55.9

117.3
43.6
54.3

118.9
44.6
54.1

123.8
46.1
57.0

131.8
52.1
58.3

' 137. 6

Nondurable goods total 9
Clothing and shoes
Food
- Gasoline and oil
.-

do
do
--do
do

299 3
55 1
150.4
24.9

334 4
61 4
168.0
28.3

375 7
65 2
189.4
36 4

311 2
57 9
155.1
26 1

321 4
60 1
161.2
26 7

328 0
60 9
164.3
27 4

339 6
61 9
171.4
28.5

348 5
62 8
175.2
30.6

359 8
64 3
181.3
31.7

371 9
65.3
185.4
37.1

383.9
66.5
193.2
38.2

387.1
64.8
197.4
38.8

394.1
66.7
202.8
38,1

404 8
69.0
206.6
39.6

416.4
71.3
211.4
41.2

' 423. 7
'72.5
' 215. 6
'42.1

do
do _ _
do
- do

322 4
45.9
112.3
26 0

351 3
50 3
123.1
27 8

388 3
56 4
136 0
30 9

333 0
47 9
115 6
26 7

339 5
48 2
118 9
27 2

348 2
49 8
121.9
27 6

355.2
51.4
124.7
28 0

362 2
51.9
126.8
28 5

371 2
52.7
131.4
29 7

382.8
55.6
134.2
30.4

394.9
57.9
137.4
31.4

404.0
59.2
140.7
32.1

413.4
60.6
143.9
33.0

421.6
63.1
147.0
33.5

429.2
64.7
150.2
34.2

' 439. 7
' 64. 9
' 154. 1
'35.5

188.3

220.5

212 2

200.5

211.7

217.1

221.2

231.9

218.4

212. 7

207.6

210.3

168.7

161.4

194.9

' 205. 4

9

Gross national product totalf

-

bil. $

Personal consumption expenditures, total.. do

Services total 9
Household operation _
Housing
-_ _. _
Transportation

.--

_.

„

Gross private domestic investment, total.— do

Net exports of goods and services
Exports
.
.
Imports
.

Change in business inventories
Durable goods
Nondurable goods

'55.1
'60.4

203 0
136 5
49 0
87.5

20 5
147 9
54 4
93.5

189 7
123 8
44 0
79.9

199 3
131 0
46 3
84.8

202 8
134.5
47.7
86.7

205.6
138.5
50.3
88.2

204 2
141 8
51.5
90.4

203 5
145.9
53.4
92.5

203.4
146.6
54.1
92.4

203.1
148.1
54.0
94.1

199.8
151.1
56.1
95.0

193.5
149.3
54.9
94.4

191.1
146.1
51.1
95.0

197.1 '207 4
146.7 '151.9
51.2 '53.6
95.6 '98.3

do
do
do

62 0
94
88

66 5
17.5
14 1

54 6
97
11 6

65 9
10 8
10 3

68 2
12 4
10 1

68.3
14.3
11 0

67.0
15.6
11 0

62.4
27.7
24 0

57.6
14.9
14 1

56.9
9.3
11.0

55.0
4.4
7.6

48.7
10.4
13.7

44.2
-24.8
-23.3

45.0
-29.6
-29.6

50.4 '55.4
-2.1 ' -2.0
'-7.5
-5.7

—3 3
72 7
75 9

7 4
101 5
94 2

7 7
144 2
136 5

—2 1
79.0
81.1

2 0
89 4
87.4

4.5
96.6
92.1

10.2
105.2
95.0

12 8
114.9
102.0

15.6
133.1
117.5

4.0
141.6
137.6

3.2
148.6
145.5

8.2
153.6
145.3

17.3
148.2
130.9

24.2
140.7
116.4

22.1 '21.2
148.5 ' 153. 5
126.4 ' 132. 2

253.1
102 1
73 5
151 0

269. 9
102 0
73 4
168 0

301.1
111 7
77 4
189 4

259.2
102.3
73 3
157 0

265.7
104.1
74 0
161 6

265.7
99.9
73 0
165.8

270.0
100.0
72.3
170.0

278.4
104.0
74.2
174.5

287.5
106.1
74 8
181.4

296.5
108.9
75.8
187.6

305.9
113.6
78.4
192.3

314.4
118.2
80.5
196.3

321.2
119.4
81.4
201.9

324.7
119.2
82.1
205.5

334.1 ' 344. 8
124.2 ' 129. 9
87.4
84.9
209.9 ' 214. 8

1, 161. 7
516 6
202.1
314 5
510 8
134 3

1,288.8
589 3
228.8
353 5
559 5
147 0

1,397.2
626 5
238.5
388 0
624 1
146 6

1,208.6
538 6
213.0
395 g
529 3
140 7

1,252.6 1,273.5 1,304.1 1,325.0 1,356.1 1,381.7 1,420.0 1,430.9
637.3
640 2
620 6
573 9
589 7
607 9
565 6
600 1
239.3
231.4
237.7
245.8
228.2
230.2
230.2
226.5
339 o
398.0
394.4
383.0
359 5 369 9
345 6
376 6
649.7
632.5
602.1 612. 0
552.7
565.8
578.8
540 8
143.9
148 6
146.1
146 1 149.1 147.2
147 0
146 3

1,458.4
660.2
243.8
416.4
659.3
138.9

1,490.2
683.5
258.8
424.7
672.0
134.6

1,530.6 '1,574.4
701.1 ' 718. 7
267.5 ' 276. 7
433.5 r 442. 1
688.1 ' 705. 4
141.4 ' 150. 3

9 4
63
32

17 5
10 3
7 2

97
7*5
2 2

10 8
11 8
—1 0

12 4
68
56

14 3
9.5
4 9

15.6
11.4
4.2

27.7
13.5
14.2

14 9
6.7
8 2

9.3
2.7
6.5

4.4
5.9
-1.4

10.4
14.9
-4.4

-24.8
-14.6
-10.2

-29.6
-15.5
-14.1

—2.1 ' -2.0
' -6.8
-5.6
' 4.8
3.5

bil. $.. 1,171.1

,.

178 8
116 8
42 5
74.3

1,201.5 '1,215.9

.. .. do.. _
do.. _
.
do

Govt. purchases of goods and services, total .do
Federal
--do
National defense
do
State and local
-do
By major type of product:!
Final sales, total
Goods total
Durable goods
Nondurable goods
Services
-. -.
Structures

1 4069 1 2194 1 265 0 1 287 8 1 319.7 1 352.7 1 370.9 1 391.0 1 424.4 1,441.3

- do
do
do
do

Fixed investment
Nonresidential
Structures
..
Producers' durable equipment
Residential
Change in business inventories
Nonfarm

1 171. 1 1 306.3

-

do
do
do
do
do
- do

do . _
do
- -- do

GNP in constant (1972) dollars!

1, 233. 4

1,210.7

1,202.2

1,227.7

1,228.4

1,236.5

1,240.9

1,228.7

1,217.2

1,210.2

1,186.8

1,158.6

1,168.1

733.0

766.3

759.8

752.8

765.8

766.2

770.5

762.8

760.0

763.2

767.2

748.9

752.3

764.1

771.6

do
do
do

111.2
299.3
392 4

190 9
309.6
335 8

112 5
303.0
344 4

117 6
306.4
398 8

124 0
310.6
331 2

122.7
308.2
335.3

121.2
311.4
337.9

115.7
308.3
338. 9

114.7
304.5
340.8

115.5
303.8
343.9

116.8
304.7
345.7

102.9
298.9
347.2

104.0
300.8
347.5

106.5
306.9
350.8

112.3 ' 115.3
308.0 ' 310. 7
351.2 ' 353. 3

Gross private domestic investment, total. ..do

188.3

207.4

180.0

197.6

205.0

206.1

206.0

212.6

195.9

183.8

173.2

166.9

129.7

124.1

147.8

178 8
116 8
6 9 .0
9,4

191 4
131 3
60.1
16.0

179 9

127 5
44.7
7.7

186 7
129 9
63.8
10 8

193 2
128 6
64.5
11.9

192.5
130.2
62.3
13.6

191.8
132. 4
59.4
14.2

188.2
133. 9
54.3
24.4

183.6
134.5
49.1
12.4

177.0
129. 9
47.1
6.8

169. 0
125.0
44.1
4.2

159.3
120. 8
38.5
7.6

148.7
115. 2
33.6
-19.0

144.8
110.8
34.0
-20.7

-3.3

7 2

16.6

-1.4

2. 1

5.6

8.9

12.1

18.7

15.3

15.1

17.4

21.5

Gross national product, totalf

Personal consumption expenditures, total. .do
Durable goods
Nondurable goods
Services
-

-

Fixed investment
.
do
Nonresidential .
. . . . do
Residential
-.. .. .. .-.doChange in business inventories
do..
Net exports of goods and services

do

Govt. purchases of goods and services, total, do...
Federal
. .
do
State and local
do...

253.2
253.1
252, 5
254.7
254.3
99 6
96 1
100 4
109 1
95 0
151.0
156.3
153.6
154.3
159. 3
r
Revised.
P Preliminary.
* Annual totals for components shown in this column
appear on pp. 7-14 of this issue of the SURVEY.
|Revised series. Estimates of national
ncome and product and personal income have been revised back to 1946 (descriptive material




24.9

' 779. 4

' 151. 4

148.7 ' 153. 0
r
112. 3
110.6
40. 7
38.0
— .8

23.5

'23.6

258.7 r 261. 6
254.9
255.1
253.6
254.7
255. 0
254. 0
250.5
251.1 253. 5
' 96. 1
94.9
92.4
93.7
94.7
95.7
94.7
94.7
94. 9
94. 9
94.2
163.8 ' 165. 5
161.4
162.5
158. 9
159.0
160.2
159. 3
155.5
156. 9
158.5
and earlier data appear in the Jan. 1976 SURVEY, Parts I and II); revisions prior to Nov.1974
for personal income appear in table 2.2 in the Jan. 1976 SURVEY.
9 Includes data for items
not shown, separately.

S-l

SURVEY OF CUKRENT BUSINESS

S-2
Unless otherwise stated in footnotes below, data
through 1972and descriptive notes areas shown in
the 1973 edition of BUSINESS STATISTICS

1972

I 1973 | 1974

1973

II

Annual total

February 1976
1974

III

IV

1975

III

IV

1976

III

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCTf— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
Implicit price deflators:!
Gross national product .Index, 1972=100.. 100.00
100.0
Personal consumption expenditures
do
100.0
Durable goods
do
100.0
Nondurable goods
do
100.0
Services
do
Gross private domestic investment:
100.0
Fixed investment
do
100.0
Nonresidential
do
100.0
Residential
. do
100.0
Govt purchases of goods and services
do
100.0
Federal
do
100.0
State and local
do

105. 92
105.5
101.7
108.0
104.6

116.20
116.6
108.4
124.0
112.7

103.04
102.6
100.7
103.5
102.5

104.84
104.5
101.4
106.4
103.8

106.73
106.2
102.0
109.0
105.1

109.01
108.8
102.8
113.1
106.9

111.58
111.8
103.2
118.2
108.9

114.28
115.0
106.6
122.4
111.3

117.70
118.3
110.4
126.0
114.2

121.45
121.3
114.0
129.5
116.4

123.74
123. 1
114.4
131.0
119.0

125.04
124.4
116.3
131.9
120.2

127.21 129. 32
126.7 128.4
117.4 '119.4
135.2 ' 136. 4
122.2 124.4

106.0
104.0
110.6
106.9
106.1
107.5

117.6
116.0
122.1
118.4
117.6
118.9

103.2
101.9
105.8
104.3
103.6
104.8

105.3
103.3
109.7
106.1
105.3
106.6

107.2
104.7
112.9
107.5
106.1
108.3

108.5
106.0
114.9
109.8
109.5
110.0

110.9
108.5
117.4
113.2
112.1
113.8

115.0
112.9
120.7
116.3
114.9
117.1

120.2
118.5
124.9
120.1
118.6
121.0

125.4
125.0
126.7
124.0
124.8
123.6

130.1
129.6
131.6
125.9
127.3
125.1

131.9
131.8
132.3
127.3
128.9
126.4

132.6
132.6
132.5
129.2
130.9
128.2

1,067.3 1,141.1 1,031.2

1,052.9

1,078.1 1,106.8 1,122.3 1,129.6 1,151.3 1,161.3 1,155.2

135.5
' 135. 3
' 136. 1
' 131. 8
135.3
' 129. 8

1,180.8 1,232.5

bil. $

National income totalf
Compensation of employees, total
Wages and salaries, total
Private
-. Military
Government civilian
Supplements to wages and salaries

951.9

.do
do
do
do
do
do

715.1
633.8
496.2
22.0
115.6
81.4

797.7
700.9
552.3
22.1
126.5
96.8

873.0
763.1
603.0
22.3
137.7
110.0

769.7
676.5
531.6
22.3
122.6
93.2

787.8
692.5
545.5
21.9
125.2
95.3

805.4
707.6
558.2
21.8
127.7
97.8

828.0
727.1
573.9
22.5
130.7
101.0

843.9
738.7
583.1
22.3
133.3
105.2

863.9
755.6
597.6
22.1
136.0
108.3

886.3
774.3
613.6
21.9
138.8
112.0

898.1
783.6
617.7
23.0
143.0
114.4

897.1
781.0
611.7
22.9
146.4
116.1

905.4
787.6
615.0
22.8
149.7
117.8

928.2
807.3
631.9
22.8
152.6
120.9

' 955. 1
' 830. 7
' 650. 5
23.6
' 156. 5
124.4

76.1
18.0
58.1

91.7
32.4
59.3

85.1
25.6
59.5

85.9
26.5
59.4

90.1
31.2
58.9

95.0
35.2
59.7

96.0
36.8
59.3

93.0
33.7
59.3

81.8
22.3
59.5

82.1
21.9
60.2

83.6
24.6
59.0

79.6
21.0
58.6

78.6
20.1
58.5

88.0
29.3
58.7

87.0
28.2
'58.9

21.5

21.3

21.0

21.8

21.2

21.3

21.1

21.1

21.0

20.9

20.9

20.8

20.5

20.9

22.0

Proprietors' income with inventory valuation
and capital consumption adjustments,
total
bil. $
Farm
do
Nonf arm
do
Rental income of persons with capital consumption adjustment
bil. $
Corp. profits with inventory valuation and capital consumption adjustments, total
bil. $..
Corp. profits with invent, val. adj.:
Domestic total
do
Financial
do

92.1

100.2

91.3

101.9

99.6

98.9

100.4

99.6

94.3

89.2

82.0

78.9

96.6

113.1

84.7
15.4
69.3
40.6
22.5

91.7
17.4
74.3
43.8
24.0

82.5
17.3
65.3
37.4
11.8

92.9
16.8
76.1
45.6
26.5

90.8
17.5
73.2
44.8
24.7

91.4
17.4
74.0
42.6
23.8

92.0
17.9
74.1
42.4
20.9

85.9
17.2
68.7
40.9
16.5

87.2
17.1
70.2
39.8
11.6

82.0
18.3
63.7
37.0
9.7

75.1
16.5
58.6
31.9
9.2

77.6
18.3
59.3
30.0
8.9

95.7
15.5
80.2
43.5
16.0

113.4
14.9
98.6
54.6
24.5

9.0
4.8

8.5
6.8

7.0
11.0

9.2
6.5

8.1
6.6

8.6
6.5

8.2
7.7

6.2
14.4

8.8

10.0

11.0

5.8

5.8

11.3
6.2

do
do
do
do
do

96.2
41.5
54.6
24.6
30.0

117.0
48.2
68.8
27.8
40.9

132.1
52.6
79.5
31.1
48.4

115.2
47.8
67.5
26.4
41.0

117.9
48.8
69.1
27.2
41.9

115.8
47.8
68.0
28.1
39.9

119.1
48.6
70.5
29.5
41.0

128.3
49.4
78.9
30.0
48.9

129.6
52.6
77.1
30.9
46.2

146.7
59.3
87.4
31.7
55.7

123.9
49.2
74.7
31.7
43.0

97.1
37.5
59.6
32.1
27.5

108.2
41.6
66.6
32.6
34.0

129.5
50.7
78.8
33.5
45.3

do
do
do

-6.6
2.5
47.0

-18.4
1.6
56.3

-38.5
-2.3
70.7

-15.8
2.5
51.9

-20.6
2.2
54.3

-17.9
1.0
57.6

-28.0
-.7
64.8

-33.7
-1.7
68.7

-54.7
-2.7
72.7

-37.7
-4.2
76.7

-13.7
-4.5
78.7

-6.6
-5.0
79.7

-14.7
-9.9
-6.5 ' -6.6
85.7
82.2

M

f t 'i
tnt 1 Q
dn
Durable goods
do
Transportation, communication, and
electric, gas, and sanitary serv
bil. $..
Rest of the world
do

Profits before tax total
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment
Capital consumption adjustment
Net interest

-19.5
6L3

33.1

DISPOSITION OF PERSONAL INCOME f
Quarterly Data Seasonally Adjusted at Annual Rates
1,067.8 1,098.8 1,115.9 1,136.6 1,171.6 1,194.8 1,203.6 1,223.8 1,261.7
168.4
162.1
175.3
178.9
158.9
179.6 142.1 174.6
153.7
968.2
996.3 1,015.9 1 , 024. 0 1,081.7 1, 087. 1
939.9
953.8
914.1
974.2 1,001.3
931.7
932.4
950.4
872.6 901.4
840.3 853.4
107.5
66.8
85.9
81.2
86.5
83.6
64.6
73.6
73.8

'1,294.5
' 180. 5
'1,114.0
'1,025.4
'88.6

bil $
do
do
do
do

942.5
141.2
801.3
751.9
49.4

bil. $
do
ao
..do

88.44
31.35
15.64
15.72

99.74
38.01
19.25
18.76

112. 40
46.01
22.62
23.39

21.50
7.80
3.92
3.88

24.73
9.16
4.65
4.51

25.04
9.62
4.84
4.78

28.48
11.43
5.84
5.59

24.10
9.49
4.74
4.75

28.16
11.27
5.59
5.69

28.23
11.62
5.65
5.96

31.92
13.63
6.64
6.99

25.82
10.84
5.10
5.74

28.43
12.15
5.59
6.55

27.79 i 31. 45 i 26. 54
13.66 10.98
11.67
6.20
4.94
5.16
7.46
6.04
6.51

do
do
do
do
do

57.09
2.42
1.80
2.46
1.46

61.73
2.74
1.96
2.41
1.66

66.39
3.18
2.54
2.00
2.12

13.69
.63
.46
.52
.32

15.57
.71
.46
.72
.43

15.42
.69
.48
.57
.44

17.05
.71
.56
.60
.47

14.61
.68
.50
.47
.34

16.89
.78
.64
.61
.49

16.61
.80
.64
.43
.58

18.29
.91
.78
.48
.71

14.98
.91
.59
.44
.62

16.28
.97
.71
.47
.77

16.12
.94
.62
.50
.85

17.79
1.00
.61
.43
.65

15.56
.96
.60
.29
.65

do
do
...do
do
.-do

17.00
14.48
2.52
11.89
20.07

18.71
15.94
2.76
12.85
21.40

20.55
17.63
2.92
13.96
22.05

3.95
3.45
.50
2.87
4.94

4.59
3.91
.68
3.27
5.40

4.82
4.04
.77
3.19
5.24

5.36
4.54
.82
3.53
5.83

4.38
3.85
.52
3.19
5.05

5.30
4.56
.75
3.60
5.46

5.20
4.42
.78
3.39
5.57

5.67
4.80
.87
3.78
5.97

4.42
3.84
.58
3.11
4.88

4.94
4.15
.79
3.22
5.19

5.07
4.16
.91
3.14
5.00

5.88
4.88
1.00

5.15
4.46
.69

29.21

27.90

do
do.
.do
do

96.19
35.51
17.88
17.63

97.76
36.58
18.64
17.94

100. 90
38.81
19.73
19.08

103.74
40.61
20.48
20.13

107. 27
42.96
21.43
21.53

111.40
45.32
22.50
22.82

113.99
47.04
23.08
23.96

116. 22
48.08
23.28
24.80

114.57
49.05
22.86
26.20

112.46
48.78
22.59
26. 19

do ..
do
do
do
do

60.68
2.59
2.11
2.21
1.53

61.18
2.77
1.75
2.72
1.62

62.09
2.82
1.95
2.49
1.79

63.12
2.76
2.05
2.20
1.73

64.31
2.80
2.10
2.13
1.63

66.08
3.07
2.42
2.21
1.84

66.94
3.27
£.68
1.84
2.16

68.14
3.56
3.05
1.81
2.71

65.52
3.76
2.39
2.09
2.82

63.68
3.78
2.70
1.60
2.75

Personal income total
Less: Personal tax and nontax payments
Equals: Disposable personal income
Less* Personal outlays©
Equals: Personal saving§

1,054.3 1,154.7 1,011.6 1,039.0
171.2
151.2
147.3
145.0
983.6
903.1
891.7
866.6
909.5 806.1 821.8
830.4
74.0
72.7
70.0
60.4

NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
Manufacturing
Durable goods industries ^
Nondurable goods industries ^
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation

.

Public utilities
Electric
Gas and other.
Communication _
Commercial and other_
Seas. adj. qtrly. totals at annual rates:
All industries
_.
Manufacturing
Durable goods industries! _
Nondurable goods industries J
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation

.

18.38
18.08
Public utilities
do
15.40
15.55
Electric..
.
do
2.52
2.98
Gas and other
...
do 12.34
12.70
Communication
do
21.55
21.53
Commercial and other
do
T
Revised.
p Preliminary.
i Estimates (corrected for systematic biases) for Oct. Dec. 1975 and Jan.-Mar. 1976 based on expected capital expenditures of business. Expected
expenditures for the year 1975 appear on p. 12 of the Dec. 1975 SURVEY.
2 includes communication.
fSee corresponding note on p. S-l.
9 Includes data for item snot shown




112.16 i 114.80 i 118.16
48.16 49.88
47.39
21.82 22.34
21.01
27.53
26.34
26.38
64.76
3.82
2.75
2.12
2.99

66.64
3.93
2.36
1.67
2.91

68.28
4.00
2.49
1.36
3.04

19.52 19.79
21.54 23.62
20.28
20.16
20.93
20.97
19.80
20.12
18.58
16.41 16.58
18.02 19.77
17.03
18.10
17.47
17.76
16.72
17.12
16.00
3.86
3.52
3.21
3.11
3.25
3.17
2.68
2.87
3.08
3.00
2.58
12. 50 12. 95
13.36
14.04
14.01
13.94
13.24
13.83
13.12
20.83 20.34
20.82
22.04
22.84
21.63
21.35
21.69
21.36
(BPerso nal outljlys com Drise per sonal co nsumpti on expeiiditures, interest
separ ately.
paid by consLimers to Dusiness, and pers onal traiisfer pay tnents to foreigne "s (net).
sonal ou1
§P 3rsonal Sciving is e xcess of clisposabl e income over per iustries Jays.
3ompone nts appe ar in the
HD ata for i ndividua 1 durable and nor[durable goods in
1
<* S(>e note c n p. S-l.
SURVEY
Mar. June, S ept., and Dec. issiles of the


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102