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SURVEY OF CURRENT BUSINESS

April 1977

9

NATIONAL INCOME AND PRODUCT TABLES
1975
1975

1976

I

IV

II

1975

1977

1976

III

IV

IP

1975

1976

1976

I

IV

Seasonally adjusted at annual rates

1977

II

III

IV

IP

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)
,516.3 1,691.6 1,588.2 1,636.2 1,675.2 1,709.8 1,745.1 1,792.5 1,191.7 1,264.7 1,219.2 1,246.3 1,260.0 1,272.2 1,280.4 1,296.8

Gross national product
Personal consumption expenditures..

973.2 1,079.7 1,012.0 1,043.6 1,064.7 1,088.5 1,122.0 1,156.8

770.3

813.7

783.9

800.7

808.6

815.7

829.7

842.2

111.9
306.1
352.4

125.8
319.3
368.6

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

134.7
326.0
381.5

131.7
409.1
432.4
183.7

156.5
440.4
482.8
239.6

201.4

229.6

239.2

247.0

242.8

260.2

137.8

170.9

147.0

167.1

171.7

175.2

169.8

178.7

198.3

227.7

205.7

214.7

223.2

231.9

241.0

252.7

149.8

162.8

152.5

156.7

160.6

165.0

169.0

173.8

Nonresidential
Structures
Producers' durable equipment..

147.1
52.0
95.1

160.0
55.3
104.7

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

173.1
56.3
116.8

111.4
36.7
74.7

115.7
38.1
77.7

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

121.9
37.7
84.2

Residential.
Nonfarm structures
Farm structures
Producers' durable equipment..

51.2
1.3

67.7
65.1
1.1
1.6

57.0
54.2
1.4
1.4

61.3
58.6
1.2
1.5

65.3
62.9
.9
1.5

66.3
1.0
1.6

75.5
72.7
1.2
1.6

79.7
76.9
1.1
1.7

38.4
36.6
.6
1.2

47.1
45.1
.7
1.3

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

51.9
49.9
.7
1.4

-14.6
-17.6
3.0

11.9
11.9
0

-4.3
-9.5
5.2

16.0
17.3
-1.3

15.1
15.6
-.5

1.7
2.2
-.5

7.5
7.5
0

-12.0
-13.0
.9

8.1
8.1
0

-5.5
-7.0
1.5

10.4
8.9
1.5

11.1
12.0
-.9

10.2
10.5

.9
1.2
-.4

4.9
4.9
0

Durable goods
Nondurable goods.
Services
Gross private domestic investment.
Fixed investment...

Change in business inventories.
Nonfarm
Farm

49.0
.8

141.8
421.6
448.6

151.4
429.1
463.2

155.0
434.8
474.9

157.6
441.8
489.1

162.0
456.0
504.0

173.4
463.7
519.6

20.5

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

21.0

9.3

4.7

4.2

-4.9

22.6

16.0

23.1

16.6

16.0

15.7

15.5

12.1

162.7
156.0

153.7
132.7

154.1
145.7

160.3
151.0

167.7
163.0

168.5
164.3

170.5
175.4

90.6
68.1

96.1
80.1

93.9
70.8

93.6
77.0

95.4
79.4

98.0
82.3

97.4

97.8
85.7

339.0

365.6

353.8

354.7

362.0

369.6

376.2

380.4

261.0

264.1

265.2

261.9

263.6

265.5

124.4
84.3
40.1
214.5

Exports .
Imports-

6.6

148.1
127.6

Net exports of goods and services-

14.8
12.7
2.2
8.4

133.4
88.2
45.2
232.2

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

139.5
91.5
48.0
240.9

95.7

96.7

97.2

95.4

96.0

97.3

165.2

167.4

168.0

166.6

167.7

168.2

Q

81.8
265.3
98.1
167.3

263.8
97.3
166.5

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
Gross national product..

1,516.3 1,691.6 1,588.2 1,636.2 1,675.2 1,709.8 1,745.1 1,792.5 1,191.7 1,264.7 1,219.2 1,246.3 1,260.0 1,272.2 1,280.4 1, 296.8

Final sales
Change in business inventories..
Goods
Final sales
Change in business inventories.

,531.0 1,679.7 1,592.5 1,621.4 1,659.2 1,694. 7 1,743.4 1, 785.0 1,203.7 1,256. 6 1, 224. 7 1,235. 9 1,248.8 1,262. 0 1,279.5 1,291.9
4.9
10.2
10.4
11.1
8.1
-5.5
-14.6
14.8
-4.3
16.0
15.1
1.7
7.5 - 1 2 . 0
11.9
681.7
696.3
-14.6

760.2
748.3
11.9

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

799.0
791.5
7.5

532.6
544.7
-12.0

575.8
567.7
8.1

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

591.8
586.9
4.9

Durable goods
Final sales
Change in business inventories.

254.4
266.5
-12.1

300.5
297.8
2.7

270.0
280.6
-10.6

282.7
286.3
-3.6

301.2
295.8
5.4

308.2
301.4

309.8
307.7
2.0

330.9
323.7
7.2

204.7
214.1
-9.4

229.9
228.1
1.8

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
1.1

246.6
241.8
4.9

Nondurable goods
Final sales
Change in business inventories.

427.3
429.8
-2.fi

459.8
450.5
9.2

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

468.2
467.9

327.9
330.6
-2.7

345.9
339.6
6.4

347.6
334.8
12.8

345.5
338.2
7.3

344.5
338.9
5.6

346.1
346.4
-.3

692.5
142.1

772.0
159.3

719.5
149.1

742.6
151.3

759.6
157.3

781.5
162.2

804.4
166.5

824.7
168.7

556.6
102.4

579.1
109.8

336.6
334.7
1.9
562.8
106.4

570.3
106.6

575.3
108.7

582.1
111.0

112.8

345.2
345.1
0
593.6
111.4

Services
Structures .

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

1,516.3 1,691.6 1,588.2 1,636.2

Rest of the world.

, 709.8

,745.1 1,792.5 1,191.7 1,264.7 1,219.2 1,246.3 1,260.0 1,272.2 1,280.4 1,296.8

1,505.7 1.678.1 1,577.1 1,623.2 1,662.8 1,696.1 1,730.4 1,777.7 1,186.8 1,258.7 1,214.1 1,240.4 1,254.3 1,266.2 1,273.9 1,290.7
1,277.5 1,427.4 1,340.4
1,222.8 1,368. 9 1,279.6
1,105.0 1.239.2 1,157.6
129.7
122.0
117.8
50.8
54.8
50.3
7.7
6.1
4.4

Households and institutions.
Government
Federal...
State and local.

,675.2

51.5

380.7 1,415.5 1,443.1 1.470.1 1,511.8 1, 004.1 1,071.6 1,030. 2 1,055.1 1,068.0 1,078. 2 1,085.1 1,101. 0
994.1 1,018. 0 1,031.5 1,039.4 1,044.8 1,060. 8
968.1 1,033.4
324.8 1,354.7 1,384.4 1,411.6
890.0
926.5
865.7
199.8 1,226.5 1,253.1 1.277.2
951.1
936.2
925.0
912.9
931.8
104.0
134.4
106.9
102.4
125.0
137.9
109.8
108.6
106.5
105.1
107.5
128.2
131.2
34.2
35.1
54.0
34.1
48.7
49.4
36.1
36.2
34.9
34.3
35.0
55.0
50.0
7.2
9.2
5.8
8.7
2 4.0
3.8
2.8
1.9
1.6
4.0
1.8
3.1
53.3

54.8

57.0

60.7

58.9

38.5

40.4

40.9

41.5

41.8

42.3

147.0
48.1
98.9

147.4
48.1
99.3

6.5

6.2

178.5
59.3
119.2

194.8
63.4
131.4

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

205.2
66.1
139.1

144.2
48.2
96.0

146.3
48.1
98.2

145.1
48.1
97.0

145.5
48.1
97.4

146.0
48.0
97.9

146.6
48.1
98.4

10.6

13.4

11.1

13.0

12.4

13.7

14.7

14.8

4.8

6.0

5.1

5.9

5.6

6.D

Preliminary (see other footnotes on following pa?e).
HISTORICAL STATISTICS
The national income and product data for 1929-72 are in The
National Income and Product Accounts of the United States, 1929-74:
Statistical Tables (available for $4.95, SN 003-010-00052-9, from
Commerce Department District Offices or the Superintendent of

232-504 O - 77 - 2




Documents; see addresses inside front cover). The July 1976
SURVEY contains data for 1973-75 (except for seasonally
unadjusted quarterly estimates, which are in the September 1976
SURVEY).

CURRENT BUSINESS STATISTICS

J.HE 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.
1974
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes areas shown in
the 1975 edition of B U S I N E S S STATISTICS

1975

1976

i

Annual total

1975

1974

|

n

III

IV

I

II

1977

1976
III

|

IV

I

II

III

Iv

IV

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
Gross national product, totalf

_bil.$._ 1,413.2

Personal consumption expenditures, total..do

1, 516. 3 1, 691. 6

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

1,745.1 1,792.5

887.5

973.2 1,079.7

853.3

878.7

906.8

911.1

933.2

960.3

987.3

1,012.0

1,043. 6 1,064.7

1,088.5

1,122.0 1,156.8

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

121. 6
47.9
54.7

131.7
53.2
57.6

156.5
70.7
63.0

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

173.4
83.2
66.7

376.2
65.1
189.9
36.3

409.1
70.0
209.5
38.9

440.4
75.4
224.4
41.5

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

463.7
79.2
234.4
44.3

Services, total9
Household operation..
Housing
Transportation

389.6
56.1
136.4
31.1

432.4
63.9
150.2
34.0

482.8
72.1
165.8
37.5

374.1
52.8
131.8
29.7

384.3
55.3
134.6
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

519.6
80.1
176.6
39.7

218.8

213.3

211.5

172.4

164.4

196.7

201.4

229.6

239.2

247.0

242.8

260.2

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
96.6

214.7
153.4
53.2
100.2

223.2
157.9
54.9
103.0

231.9
163.0
56.0
107.0

241.0
165.6
57.0
108.6

252.7
173.1
56.3
116.8

_

-

do.
do..
_do_.
do.

Gross private domestic investment, total...do

215.0

183.7

239.6

216.4

204.3
149.2
54.1
95.1

198.3
147.1
52.0
95.1

227.7
160.0
55.3
104.7

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

do.
do..
do.

55.1
10.7
12.2

51.2
-14.6
— 17.6

67.7
11.9
11.9

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

79.7
7. 5
7.5

do
do
do

7.5
144.4
136.9

20.5
148.1
127.6

6.6
162.7
156.0

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

4.2
168.5
164.3

-4.9
170.5
175.4

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

303.3
111.6
77.3
191.6

339.0
124.4
84.3
214.5

365.6
133.4
88.2
232.2

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
122.4
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

380.4
139.5
91.5
240.9

1,531.0 1, 679. 7
696.3
748.3
266.5
297.8
429.8
450.5
692.5
772.0
142.1
159.3

1,360.0
608.4
232.3
376.1
605.1
146.5

1,386.4
621.9
240.6
381.3
614.6
150.0

1,424.2
643.0
247.6
395.4
633.8
147.4

1,439.4
642.8
240. 2
402.6
652. 8
143.8

1,468.4
664.8
249.5
415.3
666.3
137.2

1,512.3
691.0
263.8
427.2
684. 2
137.1

1,550.6
705.4
272.0
433. 4
700. 2
145.0

1,592.5
724.0
280. 6
443. 3
719.5
149.1

1,621.4
727.5
286.3
441.1
742.6
151.3

1,659.2
742.4
295.8
446.6
759.6
157.3

1,694.7
751.0
301.4
449.6
781.5
162.2

11.9
2.7
9.2

12.6
6.6
6.0

13.0
10.'8

7.3
5.1
2.3

9.7
14.5
-4.7

-22.2
-15.4
-6.8

-30.0
-15.3
-14.7

-2.0
-7.0
5.0

-4.3
-10.6
6.3

14.8
-3.6
18.5

16.0
5.4
10.6

15.1
6.8
8.3

1,191.7 1, 264. 7

Fixed investment..
NonresidentiaL.
_.
_
Structures
._
Producers' durable equipment
Residential
Change in business inventories
Nonfarm
Net exports of goods and services
Exports...
_
_
Imports

By major type of product:!
Final sales, total
,
d
t
Goods, total t
Durable goods
Nondurable goods
Services
Structures
_.

l

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

do
do
.do
__do

do
o
d
do
do
.do
do
.do
do..
do..
do.

1,402.5
629.0
240.2
388.9
626.6
146.9
10.7
7.1
3.6

-14.6
-12.1
-2.6

1,743.4 1,785.0
772. 5
791.5
307.7
323.7
464.8
467.9
804.4
824.7
166.5
168.7
1.7
2.0
-.3

7.5
7.2
.3

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

bil.$.

1,230.4

1,220.8

1,212.9

1,191.7

1,161.1

1,177.1

1,209.3

1,219.2

1,246.3

1,260.0

1,272.2

759.1

770. 3

813.7

761.8

761.9

764.7

748.1

754.6

767.5

775.3

783.9

800.7

808.6

815.7

829.7

842.2

do
do
do

112.3
303. 5
343.4

111.9
306.1
352.4

125.8
319.3
368.6

114.9
305.1
341.8

115.0
304.0
342.9

116.1
304.9
343.7

103.1
299.8
345.1

106.0
300.6
348.0

108.4
307.2
351.8

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

134.7
326.0
381.5

Gross private domestic investment, total...do

182.0

137.8

170.9

194.8

187.9

176.2

169.1

129.3

126.2

148.7

147.0

167.1

171.7

175.2

169.8

178.7

173.5
128.5
45.0
8.5

149.8
111.4
38.4
-12.0

162.8
115.7
47.1
8.1

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
36.8
-21.2

149.7
110.1
39.6
-1.0

152.5
110.5
41.9
-5.5

156.7
112.6
44.1
10.4

160.6
114.9
45.7
11.1

165.0
117.5
47.4
10.2

169.0
117. 9
51.1
.9

173.8
121.9
51.9
4.9

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
do
do
do

1,214.0

1,280.4 1, 296. 8

do..

16.5

22.6

16.0

18.4

14.9

14.9

17.7

20.1

24.3

22.8

23.1

16.6

16.0

15.7

15.5

12.1

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

256.4
95.3
161.1

261.0
95.7
165.2

264.1
96.7
167.4

255.4
95.3
160.1

256.1
94.7
161.4

257.1
95.8
161.3

256.9
95.4
161.5

257.1
94.8
162.2

259.1
95.3
163.8

262.4
95.6
166.9

265.2
97.2
168.0

261.9
95.4
166.6

263.6
96.0
167.7

265.5
97.3
168.2

265.3
98.1
167.3

263.8
97.3
166.5

r
Revised.
* 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
.

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
232-504 O - 77 - SI




SUKVEY OF CURRENT BUSINESS

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

1976

1975

1974

Annual total

1975

1974
II

III

April 1977

IV

I

II

1976
III

IV

I

1977

II

III

IV

I v

II

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCTf—Con.
Quarterly Data Seasonally Adjusted at Annual Rates
Implicit price deflators:t
Gross national product
Index, 1979=100
Personal consumption expenditures.. . . do .
Durable goods
do
Nondurable goods
do
Services
_ __._
..do Gross private domestic investment:
Fixed investment.
do
Nonresidential
. _ . . .-do. Residential
._do~~
Govt. purchases of goods and services... - d o Federal
do
State and local . . do
National income totalf

bil $

Compensation of employees, total _
Wages and salaries, total
Govt. and govt. enterprises
Other
Supplements to wages and salaries

do .do
do
f\n

do

116.41
116.9
108.3
124.0
113.5

127.25
126.3
117.7
133.7
122.7

133.75
132.7
124.4
138.0
131.0

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

124.55
123.7
115.1
131.2
119.7

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

136.30
135.2
127.0
139.9
134.0

138.22
137.4
128.8
142.2
136.2

117.7
116.1
122.3

132.4
132.1
133.2

139.9
138.2
143.9

115.3
113.2
121.0

120.3
118.6
125.3

125.2
124.7
126.7

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
147.7

145.4
142.0
153.4

118.3
117.1
119.0

129.9
130.0
129.8

138.4
138.0
138.7

116.4
114.9
117.2

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

141.8
141.6
141.9

144.2
143.4
144.7

1,135.7 1,207.6 '1,348.4 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 ••1,389.3
875.8
764.5
160.4
604.1
111.3

928.8 1,028.4
890.4
806.7
190.7
175.8
630.8
699.7
122.1
138.0

866.3
756.7
158.1
598.6
109.6

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

963.1
836.4
182.2
654.1
126.7

994.4 1,017.2
861.5
881.1
185.4
188.7
676.1
692.4
132.9
136.2

1,037.5
897.8
191. ?
706.1
139.6

1,064.5
921.0
197.0
723.9
143.5

1,096 6
946.2
200.0
746.1
150.4

Proprietors' income with inventory valuation
and capital consumption adjustments,
total
Ml. $
Farm
do
do
Nonfarm
Rental income of persons with capital consumption adjustment
bil $

86.9
25.8
61.1

90.2
24.9
65.3

96.7
22.8
73.8

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

103.3
24 0
79.3

21.0

22.4

23.5

20.6

21.0

21.5

21.9

22.3

22.4

22.9

23.3

23.1

23.4

24.3

25.1

Corp. profits with inventory valuation and capital consumption adjustments, total
bil. $..
Corp. profits with invent, val. adj.:
Domestic total
dft
Financial
do
Nonfinancial, total 9
do
Manufacturing total 9
do
Durable goods
do
Transportation, communication , and
electric, gas, and sanitary serv.... _bil. $ Rest of the world
do

84.8

91.6 '117.8

87.8

81.7

74.1

69.0

86.6

105.3

105.6

115.1

116.4

122.0

* 117.8
•

76.7
14.1
62.6
36.9
11.9

97.0
125 8
12.9 '14.4
84.1 ''111. 4
46.4 rr 64 3
17.2
27.6

80.8
14.0
66.8
39.0
12.1

75.1
14.6
60.5
37.7
10.7

69.5
13.1
56.331.6

72.1
13.9
58.2
29.7

9.0

8.4

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

r 125. 6
'•IS. 4
r 110. 3
62.3
26.5

9.9
7.5

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

9.5
6.8

10.7
7.2

10.8
8.5

147 9
64.4
83 6
35 1
••48.4

126.4
53.0
73.3
30.7
42.6

138.6
57.6
81.0
31.3
49.7

119.2
48.6
70.6
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

8.6
7.7
141.1
61.4
79.7

150.2
65.1
85.1
35.4
49.7

M54.2
'67.4

33.1
46.6

146.2
63.5
82.7
34.4
48.3

86.8
37.7
M9.1

37.6

-14.6
-15.5
82.0

-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

-20.0
-16.4
85.6

-23.2
-17.0
88.6

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

do
do
do
do
do
..do—.
.do—.
fin

6.0
11.2

7.9
6.2

127.6
52.4
75.2
30.8
44.4

114.5
49.2
65 3
32 1
33.2

-39.8
-3.0
67.1

-11.4
-11.5
74.6

r

r

DISPOSITION OF PERSONAL INCOME f
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income, total .
bil. £ 1,153.3 1 249 7 1,375 3 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 1,462.8
167.4
142.2
174.5
189.5
205.3 217.3
178.3
179.3
174.0
183.8
195.8
170.4
179.8
Less: Personal tax and nontax payments... . . d o . . . .
168.8
193.6
969.5 998.0 1,015.8 1,023.8 1,088.2 1,091.5 1,119.9 1,147.6 1,172.5 1,190.2 1,216.5 1,245.5
Equals: Disposable personal income
..do...
982.9 1,080.9 1,181.7
Less: Personal outlays©
910.7
935.0
956.7
983.6 1,011.1 1,036.2 1,068.0 1,089.6 1,114.3 1,148.6 1,183.8
do
996 9 1 105 2 901.6 930.4
79.5
82.9
75.8
Equals* Personal saving§
72.2
67.8
67.6
80.8
67.2
104.5
80.5
83.7
67.8
61.8
84.0
76.5
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
_
Manufacturing
Durable goods industries If.
Nondurable goods industries 1
Nonmanufacturing
Mining...
Railroad
..
Air transportation...
0 ther transportation
Public utilities
Electric...
Gas and other
Communication
Commercial and other.
Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing.
Durable goods industries T
Nondurable goods industries 1
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation

bil. $
. do
. do .
_ ..do....

112.40
46.01
22.62
23.39

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
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

34.52
15.38
7.27
8.12

16.61

18.29

14.98

16.28

16.12

17.44

14.91
.92
.49
.26
.72

17.04
.99
.68
.42
1.02

16.93
1.04
.64
.26
.95

19.14
1.05

16.59
1.03

.70
.35

.56
.39

.94

.60

5.50
4.74
.76
3.21
5.21

5.52
4.54
.98
3.33
5.19

6.46
5.34
1.12
3.84
5.78

5.35
4.60

do
do
do
do
. do

66.39
3.18
2.54
2.00
2.12

64 82
3.79
2.55
1.84
3.18

68 01
4.00
2.52
1.30
3.63

16.89

.49

.58

.71

.62

.77

.85

.93

do
do
do

20.55
17.63
2.92
13.96
22.05

20.14
17.00
3.14
12 74
20.60

22.28
18.80
3.47
13 30
20.99

5.30
4.56

5.20
4.42

5.67
4.80

4.42
3.84

4.94
4.15

5.07
4.16

5.70
4.85

.78
.64
.61

.80
.64
.43

.91
.59
.44

.97
.71
.47

.94
.62
.50

.97
.62
.43

3.60
5.46

3.39
5.57

3.78
5.97

3.11
4.83

3.22
5.19

3.14
5.00

3.26
5.52

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

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

112.16
47.39
21.01
26.38

111.80
46.82
21.07
25.75

114.72
49.21
21.63
27.58

118.12
50.64
22.54
28.09

122.55
54.78
24.59
30.20

..do....
do
do
do
do

66.08
3.07
2.42
2.21
1.84

66.94
3.27
2.68
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

64.76
3.82
2.75
2.12
2.99

64.98
3.82
2.39
1.65
3.56

65.51
3.83
2.08
1.18
3.29

67.48
3.83
2.64
1.44
4.16

67.76
4.21
2.69
1.12
3.44

.75

.78

Public utilities
20.16
20.97
do
Electric. .
18.10
17.47
do
2.68
Gas and other .
2.87
do
13.94
14.01
C ommunication
do
21.63 22.84
Commercial and other.. . .
..do____
r
Revised. p Preliminary. i Estimates (corrected for systematic biases) for Jan.Mar. 1977 and Apr.-June 1977 based on expected capital expenditures of business. Expected
expenditures for the year 1977 appear on p. 31 of the March 1977 SURVEY.
2 includes
communication.
fSee corresponding note on p. S-l.
9 Includes data for items not
shown separately.
©Personal outlays comprise personal consumption expenditures,




.91
.78
.48

4.79
4.18
.62
2.92
4.82

do

129.00 i 33.38
12.42 14.48
6.67
5.60
7.81
6.82

112 78 120 49
47.95 52.48
21.84 23.68
26.11 28.81

.87

.58

.79

.91

.85

.75

2 8.67

18.89
1.07
.68
.43
.62
6.60
5.53
1.07
2 9.49

125.22 1129.19 1132.71
54.44
56.17 57.90
25.50
25.33 26.77
28.93 30.84 31.13
70.78
4.13
2.63
1.41
3.49

73.02
4.26
2.37
1.76
2.87

74.81
4.16
2.68
1.45
2.45

21.67
21.91
21.85
19.79
24.52 26.20
20.91
23.46
20.93
20.28
19.52
18.56
18.82
18.22
17.76
17.03
16.41
16.58
17.92
19.49
20.44 21.96
3.03
3.45
3.36
3.17
3.25
3.11
3.21
3.00
3.96
4.08
4.24
12.54
12.62
13.64
14.04
13.36
12.50
12.95
12.22
14.30
20.94
20.99
20.68
22.04
20.82
20.83 20.34
20.44
21.36 2 3~7~.2~5 2 37.87
interest paid by consumers to business, and personal transfer payments to foreigners (net).
§ Personal saving is excess of disposable income over personal outlays.
HData for individual durable and nondurable goods industries components appear in the
Mar., June, Sept., and Dec. issues of the SURVEY.

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