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SUKVEY OF CURRENT BUSINESS

February 1977

NATIONAL INCOME AND PRODUCT TABLES
1975
1975

1976*

III

1975

1976

IV

I

II

III

IV

1975

1976*

III

1976
IV

I

II

III

IV

Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

Billions of 1972 dollars

Billions of current dollars

Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
[,516.3 1,691.4 1,548.7 1,588.2 1,636.2 1,675.2 1,709.8 1,744.3 1,191.7 1,264.6 1,209.3 1,219.2 1,246.3 1,260.0 1,272.2 1,279.9

Gross national product
Personal consumption expenditures..
Durable goods
Nondurable goods..
Services

973.2 1,079.7
131.7
409.1
432.4

Gross private domestic investment.

770.3

813.7

775.3

783.9

800.7

808.6

815.7

829.7

162.0
456.0
504.0

111.9
306.1
352.4

125.8
319.3
368.6

115.1
306.8
353.4

118.0
309.5
356.4

124.3
314.6
361.8

125.2
317.6
365.8

126.2
318.9
370.6

127.6
325.9
376.2

242.8

137.8

170.9

148.7

147.0

167.1

171.7

175.2

169.8
169.0

987.3 1,012.0 1,043.6 1,064.7 1,088.5 1,122.0

156.5
440.4
482.8

136.0
414.6
436.7

183.7

239.6

196.7

141.8
421.6
448.6

151.4
429.1
463.2

155.0
434.8
474.9

201.4

229.6

239.2

157.6
441.8
489.1

198.3

227.7

198.6

205.7

214.7

223.2

231.9

241.0

149.8

162.8

149.7

152.5

156.7

160.6

165.0

Nonresidential
Structures
Producers' durable epuipment.

147.1
52.0
95.1

160.0
55.3
104.7

146.1
51.8
94.3

148.7
52.1
96.6

153.4
53.2
100.2

157.9
54.9
103.0

163.0
56.0
107.0

165.6
57.0
108.6

111.4
36.7
74.7

115. 7
38.1
77.7

110.1
36.6
73.5

110.5
36.7
73.8

112.6
37.1
75.5

114.9
37.9
77.0

117.5
38.4
79.2

117.9
38.9
79.0

Residential
Nonfarm structures
Farm structures
Producers' durable equipment..

51.2
49.0
.8
1.3

67.7
65.1
1.1
1.6

52.6
50.2
1.0
1.4

57.0
54.2
1.4
1.4

61.3
58.6
1.2
1.5

65.3
.9
1.5

66.3
1.0
1.6

75.5
72.7
1.2
1.6

38.4
36.6
.6
1.2

47.1
45.1
.7
1.3

39.6
37.6
.7
1.2

41.9
39.7
1.0
1.2

44.1
42.0
.9
1.3

45.7
43.9
.6
1.2

47.4
45.5
.7
1.3

51.1
49.0
.8
1.3

Change in business inventories_
Nonfarm
Farm...
_

-14.6
-17.6
3.0

11.9
11.9
0

-2.0
-4.2
2.2

-4.3
-9.5
5.2

14.8
12.7
2.2

16.0
17.3
-1.3

15.1
15.6
-.5

1.7
2.2
-.5

-12.0
-13.0
.9

8.1
8.1
0

-1.0
-1.9
.9

-5.5
-7.0
1.5

10.4
8.9
1.5

11.1
12.0
-.9

10.2
10.5
-.3

.9
1.2
-.4

Net exports of goods and services..

20.5

6.4

21.4

21.0

8.4

9.3

4.7

3.3

22.6

15.8

22.8

23.1

16.6

16.0

15.7

15.0

90.7
67.9

93.9
70.8

93.6

95.4

98.0
82.3

97.4
82.4

265.5

265.3

97.3

98.1

168.2

167.3

Fixed investment

62.9

148.1
127.6

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

162.7
156.3

148.2
126.8

153.7
132.7

154.1
145.7

160.3
151.0

167.7
163.0

168.6
165.3

90.6
68.1

339.0

365.6

343.2

353.8

354.7

362.0

369.6

376.2

261.0

264.1

262.4

265.2

124.4
84.3
40.1
214.5

Exports.
Imports.

96.1
80.3

133.4
88.2
45.2
232.2

124.6
84.6
40.0
218.6

130.4
87.1
43.2
223.4

129.2
86.2
42.9
225.5

131.2
86.9
44.2
230.9

134.5
88.5
46.0
235.0

138.9
91.3
47.6
237.4

95.7

96.7

95.6

97.2

165.2

167.4

166.9

168.0

77.0

79.4

261.9

263.6

95.4

96.0

166.6

167.7

Table 2.—Gross National ]Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
Gross national product . . . _ _
Final sales. .
Change in business inventories

1,279.9

1 531.0 1 679.5 1 550 6 1 592 5 1 621 4 1 659 2 1 694 7 1 742.6 1, 203. 7 1,256.4 1,210. 2 1, 224. 7 1, 235. 9 1,248.8 1,262. 0
-1.0
-5.5
10.4
11.1
10.2
8.1
1.7 -12.0
-14.6
-2.0
16.0
15.1
14.8
11.9
-4.3

1,279.0
.9

Durable goods
_
Final sales
Change in business inventories..
Nondurable goods
Final sales.
.
Change in business inventories

681 7
696.3
-14.6

760.2
748.3
11.9

703 5
705 4
-2.0

719 7
724 0
-4.3

742 3
727 5
14.8

758 4
742.4
16.0

766 1
751.0
15.1

774.3
772.5
1.7

532.6
544.7
-12.0

575.8
567.7
8.1

546.0
547.0
-1.0

549.9
555.4
-5.5

569.5
559.1
10.4

576.0
564.8
11.1

579.1
568.9
10.2

578.7
577.9

254 4
266 5
-12.1

300.5
297.8
2.7

265 0
272 0
-7.0

270.0
280 6
-10.6

282 7
286 3
-3.6

301.2
295 8
5.4

308.2
301 4
6.8

309.8
307 7
2.0

204.7
214.1
-9.4

229.9
228.1
1.8

212.1
216.8
-4.6

213.4
220.7
-7.4

221.9
224.3
-2.4

230.5
226.7
3.8

234.6
230.0
4.6

232.6
231.5

427 3
429 8
-2.6

459.8
450.5
9.2

438.4
433 4
5.0

449.7
443 3
6.3

459. 6
441 1
18.5

457.1
446.6
10.6

457.9
449.6
8.3

464.5
464.8
-.3

327.9
330.6
-2.7

345.9
339.6
6.4

333.9
330.2
3.7

336.6
334.7
1.9

347.6
334.8
12.8

345.5
338.2
7.3

344.5
338.9
5.6

346.1
346.4

692 5
142.1

Goods
Final sales
_
Change in business inventories

Services .
Structures

1,516.3 1,691.4 1,548.7 1,588.2 1,636.2 1,675.2 1,709.8 1,744.3 1,191.7 1, 264.6 1,209.3 1,219.2 1,246.3 1,260.0 1,272.2

771 8
159.3

700 2
145.0

719 5
149.1

742 6
151.3

759 6
157.3

781.5
162.2

803.5
166.5

556.6
102.4

579.0
109.8

558.7
104.6

562.8
106.4

570.3
106.6

575.3
108.7

582.1
111.0

588.3
112.8

1,516.3 1,691.4 1,548.7 1,588.2 1,636.2 1,675.2 1,709.8 1,744.3 1,191.7 1.264.6 1,209.3 1,219.2 1,246.3 1,260.0 1,272.2
1,505.7 1,678.1 1,537.4 1,577.1 1,623.2 1,662.8 1,696.1 1,730.4 1,186.8 1.258.7 1,204.0 1,214.1 1,240.4 1,254.3 1,266.2

1,279.9

1,277.5 1,427.4 1,306.8 1,340.4 1,380.7 1,415.5 1,443.1 1,470.1 1,004.1 1,071.6 1,020. 8 1,030. 2 1,055.1 1,068.0 1,078. 2
994.1 1, 018.0 1, 031.5 1,039.4
983.0
968.1 1,033.5
1, 222.8 1,369.0 1, 246.7 1,279. 6 1,324. 8 1,354.7 1,384.4
890.0
931.8
880.1
925.0
865.7
912.9
926.5
1,105.0 1,239.3 1,127.8 1,157. 6 1,199. 8 1, 226.5 1, 253.1
104.0
107.5
102.9
102.4
106.5
105.1
134.4
118.9
106.9
128.2
122.0
131.2
129.7
117.8
125.0
34.2
35.0
36.0
34.1
34.9
34.3
55.0
55.0
35.1
54.8
50.0
50.8
49.4
50.3
48.7
5.1
5.8
6.1
8.7
7.6
4.4
7.2
3.8
1.6
2.8
1.9
1.8
1.8
3.0
40.4
41.5
38.8
39.8
40.9
38.5
54.8
38.5
58.9
49.7
56.0
50.4
51.5
53.3
57.0

1,085.1
1,045.0
936.4
108.6
36.2

.9

1.1

-.3

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product..
Gross domestic product
Business
Nonfarm
Nonfarm less housing
Housing
Farm
Statistical discrepancy
Residual1
Households and institutions.
Government
Federal
State and local.
Rest of the world.

2 3.8
41.8

178.5
59.3
119.2

194.8
63.4
131.4

180.1
59.1
121.1

185.2
61.5
123.7

189.2
62.2
127.0

192.5
62.5
130.0

196.0
63.2
132.8

201.4
65.6
135.8

144.2
48.2
96.0

146.3
48.1
98.2

144.7
48.2
96.5

145.1
48.1
97.0

145.5
48.1
97.4

146.0
48.0
97.9

146.6
48.1
98.4

147.0
48.1
98.9

10.6

13.2

11.3

11.1

13.0

12.4

13.7

13.8

4.8

5.9

5.3

5.1

5.9

5.6

6.0

6.0

* Corporate profits (and related components and totals) for 1976 are preliminary and subject
to revision next month.
1. Equals GNP in constant dollars measured as the sum of final products less GNP in
constant dollars measured as the sum of gross product by industry. The quarterly estimates
are obtained by interpolating the annual estimates with the statistical discrepancy deflated
by the implicit price deflator for gross domestic business product.
2. Held constant at level of previous quarter.




1,273.9

NOTE.

"Change in
abs
product pro
y
product sold by the establis ent holding the
other industries, nondurable.
.
* kr fl v,«, on t ho«i«
Table 8: The industry classification within the business sector is on an establishment Dabib
and is based on the 1967 Standard Industrial Classification.

CURRENT BUSINESS STATISTICS

l H E STATISTICS here update series published in the 1975 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (available from the Superintendent of Documents for $5.10) provides a description of each series, references
to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1971 through 1974 (1964-74 for major quarterly
series), annually, 1947-74; for selected series, monthly or quarterly, 1947-74 (where available). Series added or significantly revised after the 1975
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively. 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 1975 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 187-88. 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.
1973 | 1974
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes areas shown in
the 1975 edition of BUSINESS STATISTICS

1975

IV

Annual total

1974

1973

I

II

1976

1975

in

|

iv

I

II

1 III

IV

I

II

III

IV

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly

Series

NATIONAL INCOME AND PRODUCTf
Gross national product,totalf-

bil.$__ 1,306.6 1,413.2

Personal consumption expenditures, total..do
Durable goods, total 9
_..
Motor vehicles and parts
Furniture and household equipment
Nondurable goods, total 9
Clothing and shoes
Food
Gasoline and oil

do..
do..
_..do_.
.do..

Services, total9
Household operation
Housing
_
Transportation
_

do
do
do
do..
do..
do.
do..

Gross private domestic investment, total...do

1, 516. 3

1,355.1 1,372.7 1,399.4 1,431.6 1,449.2

1,446.2 1,482.3 1,548.7 1,588.2 1,636.2 1,675.2 1,709.8 '1, 744.3
1,088.5 '1,122.0

809.9

887.5

973.2

833.1

853.3

878.7

'906.8

911.1

933.2

960.3

987.3 1,012.0 1,043. 6 1,064.7

123.7
55.2
50.7

121. 6
47.9
54.7

131.7
53.2
57.6

121.1
50.7
52.0

118.6
46.2
53.7

122.5
48.5
54.9

128.0
53.0
55.7

117.4
43.7
54.4

122.1
47.6
54.6

127.0
49.5
57.0

136.0
56.3
58.2

141.8
59.2
60.6

151.4
68.0
61.2

155.0
70.4
62.3

157.6
71.7
62.9

' 162. 0
'72.7
'65. 6

333.8
61.3
168.1
27.8

376.2
65.1
189.9
36.3

409.1
70.0
209.5
38.9

348.1
62.8
175.2
30.2

360.6
64.2
181.5
31.8

371.9
65.0
186.4
36.2

383.8
66.2
193.7
38.0

388.5
65.0
198.0
39.3

394.4
66.6
203.2
37.9

405.8
69.3
207.8
38.6

414.6
71.3
211.8
39.2

421.6
73.0
215.2
39.9

429.1
73.5
219.2
40.1

434.8
73.2
223.1
40.3

441.8
75.9
225.2
41.6

' 456. 0
'79.0
' 230. 2
'44.1

352.3
50.2
123.2
27.9

389.6
56.1
136.4
31.1

432.4
63.9
150.2
34.0

363.8
51.6
128.1
28.6

374.1
52.3
131.8
29.7

384.3
55.3
131.6
30.6

394.9
57.5
137.8
31.6

405.2
59.1
141.3
32.5

416.7
61.2
145.0
33.3

427.4
63.7
148.4
33.6

436.7
65.0
151.8
34.1

448.6
65.9
155.8
35.0

463.2
68.4
159.7
36.5

474.9
69.6
163.9
37.0

489.1
72.8
167.8
37.8

'504.0
'77.3
'171.8
38.6
' 242. 8

220.0

215.0

183.7

231.5

216.4

218.8

213.3

211.5

172.4

164.4

198.7

201.4

229.6

239.2

247.0

.do..
do..
do..
do..

202.1
136.0
49.0
87.0

204.3
149.2
54.1
95.1

198.3
147.1
52.0
95.1

202.5
140.3
51.2
89.1

203.8
145.1
52.4
92.7

205.8
149.0
54.8
94.2

206.0
150.9
54.1
96.8

201.7
151.9
55.2
96.7

194.6
148.0
53.1
94.9

194.3
145.8
51.2
94.6

198.6
146.1
51.8
94.3

205.7
148.7
52.1
93.6

214.7
153.4
53.2
100.2

223.2
157.9
54.9
103.0

231. 9 ' 241.0
163. 0 ' 165. 6
'57.0
56.0
107.0 ' 108. 6

Residential
Change in business inventories
Nonfarm

do..
do..
do..

66.1
17.9
14.7

55.1
10.7
12. 2

51.2
-14.6
-17.6

62.1
29.0
23.7

58.7
12.6
14.5

56.8
13.0
13.9

55.0
7.3
7.4

49.8
9.7
12.9

46.6
-22.2
-25.6

48.6
-30.0
-31.2

52.6
-2.0
-4.2

57.0
-4.3
-9.5

61.3
14.8
12.7

65.3
16.0
17.3

68.9
15.1
15.6

'75.5
' 1. 7
'2.2

Net exports of goods and services
Exports
Imports

do..
do..
do..

7.1
101.6
94.4

7.5
144.4
136.9

20.5
148.1
127.6

12.7
115.0
102.3

15.0
133. 2
118.2

3.9
142.2
138.3

2.9
148.4
145.5

8.1
153.8
145.7

15.0
147.5
132.5

24.4
142.9
118.5

21.4
148.2
126.8

21.0
153.7
132.7

8.4
154.1
145.7

9.3
160.3
151.0

4.7
167.7
163.0

'3.3
' 168. 6
' 165. 3

269.5
102.2
73.5
167.3

303.3
111.6
77.3
191.6

339.0
124.4
84.3
214.5

277.8
104.4
74.4
173.5

288.0
106.1
74.9
181.9

298.0
108.9
75.9
189.1

308.6
113.5
78.2
195.1

318.5
118.1
80.2
200.4

325. 6
120.3
82.0
205.3

333.2
122 A
83.4
210.9

343.2
124.6
84.6
218.6

353.8
130.4
87.1
223.4

354.7
129.2
86.2
225.5

362.0
131.2
86.9
230.9

369.6
134.5
88.5
235.0

' 376. 2
138.9
91.3
' 237. 4

do..
do..
do..
do..
do..
do..

1,288.6
580.9
229.6
351.3
560.5
147.2

1,402.5
629.0
240.2
388.9
626.6
146.9

1,531.0
696.3
266.5
429.8
692.5
142.1

do.,
do.
do.

17.9
10.9
7.0

10.7
7.1
3.6

-14.6
-12.1
-2.6

1,235.0

1,214.0

1,191.7

767.7

759.1

770.3

765.9

761.8

761.9

764.7

748.1

754.6

767.5

775.3

783.9

800.7

808.6

815.7

' 829. 7

do
do
do

121.8
309.3
336.5

112.3
303.5
343.4

111.9
306.1
352.4

118.1
308.0
339.7

114.9
305.1
341.8

115.0
304.0
342.9

116.1
304.9
343.7

103.1
299.8
345.1

108.0
300.6
348.0

108.4
307.2
351.8

115.1
308.8
353.4

118.0
309.5
356.4

124.3
314.6
361.8

125.2
317.6
365.8

126.2
318. 9
370.6

'127.6
' 325. 9
' 376. 2

Gross private domestic investment, total...do

207.2

182.0

137.8

211.8

194.8

187.9

176.2

169.1

129.3

126.2

148.7

147.0

167.1

171.7

175.2

' 169. 8

190.7
131.0
59.7
16.5

173.5
128.5
45.0
8.5

149.8
111.4
38.4
-12.0

186.4
132.4
54.0
25.4

183.4
133.5
49.9
11.4

178.5
131.6
47.0
9.4

171.1
127.3
43.9
5.1

161.1
121.8
39.3
8.0

149.8
114.4
35.4
-20.5

147.4
110.6
35.8
-21.2

149.7
110.1
39.6
-1.0

152.5
110.5
41.9
-5.5

158.7
112.6
44.1
10.4

160.6
114.9
45.7
11.1

165.0 ' 169.0
117.5 ' 117.9
47.4 '51.1
'.9
10.2

7.6

16.5

22.6

12.9

18.4

14.9

14.9

17.7

20.1

24.3

22.8

23.1

16.6

16.0

Fixed Investment..
Nonresidential
Structures
Producers' durable equipment

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

_

Change in business inventories
Durable goods
Nondurable goods

1,326.1 1,360.0 1,386.4 1,424.2 1,439.4
643.0
599.8
621.9
642.8
608.4
247.6
230.7
240.6
240.2
232.3
395.4
369.0
381.3
402.6
376.1
633.8
580.1
614.6
652.8
605.1
147.4
146.2
150.0
143.8
146.5
29.0
12.1
16.9

12.6
6.6
6.0

13.0
2.2
10.8

7.3
5.1
2.3

9.7
14.5
-4.7

1,468.4 1,512.3 1,550.6
664.8
691.0
705.4
249. 5
263.8
272.0
415.3
427.2
433.4
666.3
684.2 700.2
137.2
137.1
145.0

1,592.5 1,621.4 1,659.2 1,694.7 '1,742.6
751.0 ' 772. 5
724.0
727.5
742.4
301.4 ' 307. 7
280.6
286.3
295.8
449.6 ' 464. 8
443.3
441.1
446.6
781.5 ' 803. 5
742.6
719.5
759.6
162.2 ' 166. 5
151.3
149.1
157.3

-22.2
-15.4
-6.8

-4.3
-10.6
6.3

-30.0
-15. 3
-14.7

-2.0
-7.0
5.0

14.8
-3.6
18.5

15.1
6.8
8.3

16.0
5.4
10.6

'1.7
' 2.0
' -.3

GNP in constant (1972) dollars t
Gross national product, totalf.

bil.$.

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

Fixed investment
Nonresidential.
Residential
Change in business inventories
Net exports of goods and services

do
I.Ido.I..
do
do
do

1,242.6 1,230.4 1,220.8 1,212.9 1,191.7

Govt. purchases of goods and services, total .do
252.5
256.4
261.0
255.4
252.0
96.6
95.3
95.7
94.3
95.3
Federal
do
155.9
165.2
161.1
157.7
160.1
State and local
IdoIII.
r
Revised.
v Preliminary.
t Revised series. Estimates of national income and
product and personal income have been revised back to 1973 (see p, 24 ff. of the July 1976




1,161.1 1,177.1 1,209.3 1,219.2 1,246.3 1,260.0 1,272.2 '1,279.9

15.7

'15.0

256.1
262.4
257.1
259.1
285.2
281.9
257.1
265. 5 ' 2C5.3
256.9
263.6
94.7
98.1
95.6
95.4
97.3
95.8
94.8
95.3
97.2
96.0
95.4
168.2 ' 167. 3
161.4
168.9
166.6
167.7
162. 2
161.3
161.5
163.8
168.0
SURVEY); revisions prior to May 1975 for personal income appear on p. 33 of the July
1976 SURVEY.
9 Includes data for items not shown separately.

S-l

SURVEY OF CURRENT BUSINESS

S-2
Unless otherwise stated in footnotes below, data
through 1974 and descriotive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1973

1974

1 1975

1975

1974

I

Annual total

February 1977

II

III

IV

I

II

1976
III

1977

I

IV

II

III

IV

I

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCTf—Con.
Quarterly Data Seasonally Adjusted at Annual

Rates

Implicit price deflators:!
105. 80
Gross national product .
Index, 1972=100
105.5
Personal consumption expenditures
do
101.6
Durable goods
do
107.9
Nondurable goods
do
104.7
Services
_. .
do
Gross private domestic investment:
106.0
Fixed investment
do
103.8
Nonresidential
do
Residential
do.. . 110.8
106.7
Govt. purchases of goods and services
do
105.8
Federal
.
- do
107.3
State and local
do
National income totalf
bil $ 1,064.6
799.2
Compensation of employees, total...
do
701.2
Wages and salaries, total.....
do
148.6
Govt. and govt. enterprises
do
552.6
Other
.. do
98.0
Supplements to wages and salaries
. do
Proprietors' income with inventory valuation
and capital consumption adjustments,
92.4
total
bil. $
32.0
Farm
.
do
60.4
Nonfarm
do .-.
Rental income of persons with capital consump21.6
tion adjustment
bil $
Corp. profits with inventory valuation and capital consumption adjustments, total
bil. $..
Corp. profits with Invent, val. adj.:
Domestic total
do
Financial
do
Nonfinancial total9
do
Mamifaotiirinc total 9
do
Transportation, communication, and
electric, gas, and sanitary serv
bil. $..
Rest of the world
do
Profits before tnx total
do
Profits tax liabilitv
do
Dividends
Undistributed nrofits
Inventory valuation adjustment
Capital consumption adjustment
Net interest..

do
do
do
do
do

111.56
112.0
103.2
118.2
109.5

114.64
115.3
106.5
122.3
112.1

118.03
118.6
110.2
125.9
114.9

121.60
121.8
113.8
129.6
117.4

117.7
116.1
122.3

127. 25
126.3
117.7
133.7
122.7
132.4
132.1
133.2

111.1
108.7
117.5

115.3
113.2
121.0

120.3
118.6
125.3

118.3
117.1
119.0

129.9
130.0
129.8

112.7
111.3
113.6

116.4
114.9
117.2

116.41
116.9
108.3
124.0
113.5

1,135.7 1,207.6

125. 93
125.1
117.1
132.1
121.5

128. 07
127.3
118.2
135.1
123.6

130. 27
129. 1
120.2
136.2
125.9

131. 29
130.3
121.8
136.4
128.0

132.96
131.7
123. 8
136.9
129.8

134.40
133.4
124.9
138.5
132.0

136.29
135.2
127.0
139.9
' 134. 0

125.2
124.7
126.7

124.55
123.7
115.1
131.2
119.7
129.9
129.4
131.5

131.9
131.8
132.1

132.7
132.7
132.8

134.9
134. 5
135.9

137.0
136.2
139.0

139.0
137.5
142.9

140.6
138.7
145.3

' 142. 7
140.5
r
147. 7

120.0
118.4
121.0

124.0
123.8
124.1

126.7
126.8
126.5

128.6
128.4
128.7

130.8
130.4
131.0

133.4
134.2
132.9

135.4
135.4
135.4

137.3
136.7
137.7

139.2
138. 3
139.7

1,113.5 1,125.6 1,147.6

1,156.3

1,149.7

1,182.7

1,233.4

1,264.6

1,304.7

1,337.4

1,362.5

963.1
836.4
182.2
654.1
126.7

994.4
861.5
185.4
676.1
132.9

1,017.2
881.1
188.7
692.4
136.2

1,037.5 1,064.5
921.0
897.8
197.0
191. 7
706.1 ' 723. 9
139. 6
143.5

r

141.8
141.6
141.9

875.8
764.5
160.4
604.1
111.3

928.8
806.7
175.8
630.8
122.1

846.3
739.7
155.5
584.2
106.6

866.3
756.7
158.1
598.6
109.6

86.9
25.8
61.1

90.2
24.9
65.3

91.2
31.6
59.6

85.0
24.6
60.4

86.0
23.8
62.2

85.5
23.3
62.2

81.1
17.9
63.2

86.8
24.1
62.7

95.5
29.2
66.3

97.2
28.3
69.0

93.2
21.9
71.4

100.3
27.5
72.8

96.1
21.7
74.4

97.1
20.3
76.8

21.0

22.4

20.9

20.6

21.0

21.5

21.9

22.3

22.4

22.9

23.3

23.1

23.4

24.3

99.1

84.8

91.6

95.7

87.8

81.7

74.1

69.0

86.6

105.3

105.6

115.1

116.4

122.0

90.4
16.2
74.1
44.1
24 0

76.7
14.1
62.6
36.9
11 9

97.0
12.9
84.1
46 4
17 2

81.4
14.8
66.6
39 4
15 6

80.8
14.0
66.8
39.0
12.1

75.1
14.6
60.5
37.7
10.7

69.5
13.1
56.3
31.6
90

72.1
13.9
58.2
29.7
84

91.7
12.5
79.2
43.5
14.8

111.4
12.1
99.3
57.0
24.3

112.7
12.9
99.8
55.3
21.1

121.9
14.0
107.9
61.2
23.7

125.0
13.8
111.2
66.4
30.7

130.5
14.4
116.0
67.2
29.6

8.3
6.8

6.0
11.2

7.9
6. 2

5.7
14.6

6.4
9.0

6.3
10.1

5.7
11.0

5.0
5.5

7.3
6.3

9.5
6.5

9.7
6.4

8.6

7.7

9.5
6.8

115 8
48.7
67 1
27.8
39.3

127.6
52.4
75 2
30.8
44.4

114 5
49.2
65 3
32.1
33.2

126 3
50.5
75 8
29.9
45.9

126.4
53.0
73.3
30.7
42.6

138.6
57.6
81.0
31.3
49.7

119. 2
48.6
31.1
39.5

94. 2
40.2
54 0
31.7
22.3

105.8
44.8
61.0
31.9
29.1

126.9
54.8
72.1
32.6
39.5

131.3
57.2
74.1
32.2
41.9

141.1
61.4
79.7
33.1
46.6

146.2
63.5
82.7
34.4
48.3

10.7
7.2
150.2
65.1
85.1
35.4
49.7

-18.6
1.9
52.3

-39.8
-3.0
67.1

-11.4
-11.5
74.6

-30.4
-.2
59.4

-36.6
-1.9
65.9

-53.4
-3.5
70.0

-38.8
-6.3
73.2

-16.5
-8.6
73.7

-7.8
-11.4
74.0

-9.0
-12.6
74.9

-12.3
-13.5
75.8

-11.5
-14.5
78.6

-14.4
-15.4
80.3

-12.6
-15. 7
83. 5

888.8
775.6
161.1
614.4
113.3

901.8
786.0
166.7
619.3
115.8

904.0
785.8
170.0
615.7
118.2

912.9
792.8
173.8
619.0
120.1

935.2
811.7
177. 3
634.4
123.5

70 6

37.7
-20.0
-16.4
'85.6

DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual
Personal income, total
Less: Personal tax and nontax payments
Equnls: Disposable personal income
Less: Personal outlays©
Equals: Personal saving§

Rates

b>l. $
.do
__do
do
do

1,052.4
150.8
901.7
831.3
70.3

1,153.3 1,249. 7 1,109.7
170.4
168.8
161.3
982.9 1,080.9
948.4
910.7
996.9
875.8
72.2
72.6
84.0

1,136.8 1,172.5 1,194.1 1,203.1 1,230.3 1,265.5 1,299.7 1,331.3 1,362.0 1,386. 0 1,421.7
167.4
174.5
178.3
179.3
142.2
174.0
179.8
183.8
189.5
195.8
205.3
969.5
998.0 1,015.8 ,023.8 1,088.2 1,091.5 1,119.9 1,147.6 1,172.5 1,190.2 1,216.5
901.6
983.6 1,011.1 1,036. 2 ,068.0 1,089.6 1,114.3 1,148.6
930.4
935.0
956.7
82.9
r
80.5
79.5
67.8
104.5
67.6
67.2
80.8
83.7
75.8
67. 8

NEW PLANT AND E Q U I P M E N T
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
bil. $
Manufacturing
do
Durable goods industries J
do
Nondurable goods industries 1 . . . . . . d o .
Nonmanufacturing
do
Mining.
do
Railroad.
do
Air t r a n s p o r t a t i o n . . .
. . .
..do
Other transportation
do
Public utilities
Electric. . . .
Gas and other
..
Communication
......
Commercial and other
Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
Durable goods industries H_ --Nondurable goods industries 1
Nonmnnufacturing.
Mining.
.
Railroad
Air transportation
Other transportation
Public utilities
Electric
.
Gas and other. .
Communication
Commercial and other

..

do
do
do
do
do .

99. 74
38. 01
19.25
18.76

112.40
46.01
22.62
23.39

112. 78
47.95
21.84
26.11

24.10
9.49
4.74
4.75

28.16
11.27
5.59
5.69

28.23
11.62
5.65

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
11.67
5.16
6.51

30.74
13.30
5.99
7.30

25.87
10.96
4.78
6.18

29.70
12.66
5.61
7.05

30.41
13.48
6.02
7.46

61.73
2.74
1.96
2.41
1.66

66.39
3.18
2.54
2.00
2.12

64.82
3.79
2.55
1.84
3.18

14.61
.68

16.89
.78

16.61
.80

18.29
.91

14.98
.91

16.28
.97

16.12
.94

17.44
.97

14.91
.92

17.04
.99

16.93
1.04

.64
.43

.78
.48

.59
.44

.71
.47

.62
.50

.62
.43

.49
.26

.68
.42

.64
.26

.49

.58

.71

.62

.77

.85

.93

.72

1.02

.95

20.14
17.00
3.14
12.74
20.60

.50
.47

.64
.61

.34
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

do
do
do .
do...

107.27
42.96
21.43
21.53

111.40
45.32
22.50
22.82

113.99
47.04
23.08
23.96

do...
do
do
do...
do

64.31
2.80
2.10
2.13
1.63

66.08
3.07
2.42
2.21
1.84

66.94
3.27
2.68
1.84
2.16

18.71
15.94
2.76
21.40

20.55
17.63
2.92
13.96
22.05

do
do
do
do
do

20.12
17.12
3.00
13.83
21.69

20.97
18.10
2.87
13.94
21.63

r
Revised.
v Preliminary.
i Estimates (corrected for systematic biases) for Oct.Dec. 1976 and Jan.-Mar. 1977 based on expected capital expenditures of business. Expected

expenditures for the year 1976 appear on p. 29 of the December 1976 SURVEY.

2 includes

communication.
fSee corresponding note on p. S-l.
9Includes data for items not
shown separately.
©Personal outlays comprise personal consumption expenditures,




< 35.26 i 29. 07
15.88
12. 62
7.19
5. 65
8.69
6.96

20.16
17. 47
2.68
14.01
22. 84

4.88

4.94
4.15
.79
3 22
5.19

5.07
4.16
.91
3 14
5.00

5.70
4.85
.85
3 26
5.52

4.79
4.18
.62
2 92
4.82

5.50
4.74
.76
3 21
5.21

116.22
48.08
23.28
24.80

114.57
49.05
22.86
26.20

112.46
48.78
22.59
26.19

112.16
47.39
21.01
26.38

65.52
3.76
2.39
2.09
2.82
20.28
17.03
3.25
13.36
20.82

63.68
3.78
2.70
1.60
2.75

64.76
3.82
2.75
212
2.99

114.72
49.21
21.63
27.58
65.51
3.83
2.08
1.18
3.29

118.12

68.14
3.56
3.05
1.81
2.71

111. 80
46.82
21.07
25. 75
64.98
3.82
2.39
1.65
3.56

19.52
16.41
3.11
12.50
20.83

19.79
16.58
3.21
12. 9o
20.34

20.91
17.92
3.00
12.22
20.44

21.91
18.56
3.36
12.54
20.68

21.85
18.82
3. 03
20.94

20.93
17.76
3.17
14.04
22.04

.58

22.54
28. 09
67.48
3.83
4.16

5.52
4.54
.98
3 33
5.19

19.38
1.03
. 54
. 38

16.45
1.02

6.62
5. 48
1.14
2
9. 92

5.37

.56

2 8.67

122.55 • 127.87 i 129.38
56 99
56. 23
54. 78
25.52
25.23
24.59
31 47
31.00
30.20
72.38
71.64
67.76
4.22
4.03
4.21
2 °2
2.69
1 45
1.51
1.12
2.67
3.34
3.44
24.57
24.05
21.67
20.75
20.01
18.22
4.04
3. 45
20.99 2 36.73 2 37.26

interest paid by consumers to business, and personal transfer payments to foreigneis (net).
§ Personal saving is excess of disposable income over personal outlays.
HData for individual durable and nondurable goods industries components appea. in me
Mar.. June. Sept., and Dec. issues of the SURVEY.
c

Corrected.

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