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SUEVEY OF CURKENT BUSINESS

June 1977

NATIONAL INCOME AND PRODUCT TABLES
1975
1975

1976

IV

1977

1976

I

II

III

IV

I

1975
1975

1976

1976
I

IV

Seasonally adjusted at annual rates

1977

II

III

IV

I

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)
Gross national product...

1,516.3 1,691.6 1,588.2 1,636.2 1,675.2 1,709.8 1,745.1 1,799.3 1,191.7 1, 264.7

Personal consumption expenditures..
Durable goods
Nondurable goods.
Services

973.2 1,079.7 1,012.0 1,043.6 1,064.7 1,088.5 1,122.0 1,159.1

,219.2

,246.3 1,260.0 1,272.2 1,280.4

1,302.0

770.3

813.7

783.9

800.7

808.6

815.7

829.7

843.8

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

134.9
326.8
382.1

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

267.9

137.8

170.9

147.0

167.1

171.7

175.2

169.8

183.1

198.3

227.7

205.7

214.7

223.2

231.9

241.0

254.1

149.8

162.8

152.5

156.7

160.6

165.0

169.0

173.9

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

173.9
56.6
117.4

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

122.3
37.8
84.5

Residential
Nonfarm structures
Farm structures
Producers' durable equipment..

51.2
49.0
.8
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

68.9
66.3
1.0
1.6

75.5
72.7
1.2
1.6

80.2
77.4
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

47.4
45.5
.7
1.3

51.1
.8
1.3

51.6
49.6
.7
1.3

-14.6
-17.6
3.0

11.9
11.9
0

-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

13.8
13.0

-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

1.2
-.4

9.2
8.7
.5

Gross private domestic investment.
Fixed investment

Change in business inventories.
Nonfarm
Farm

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

174.0
464.7
520.4

Q

49.0

20.5

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

6.6

21.0

8.4

9.3

4.7

4.2

-6.2

22.6

16.0

23.1

16.6

16.0

15.7

15.5

12.6

148.1
127.6

162.7
156.0

153.7
132.7

154.1
145.7

160.3
151.0

167.7
163.0

168.5
164.3

171.4
177.6

90.6
68.1

96.1
80.1

93.9
70.8

93.6

95.4
79.4

98.0

97.4
81.8

98.2
85.6

339.0

365.6

353.8

354.7

362.0

369.6

376.2

378.5

261.0

264.1

265.2

265.3

262.4

134.5
88.5
46.0
235.0

138.9
91.3
47.6
237.4

138.2
91.5
46.7
240.3

95.7

96.7

97.2

98.1

96.4

165.2

167.4

168.0

167.3

166.0

1,516.3 1,691.6 1,588.2 1,636.2 1,675.2 1,709.8 1,745.1 1,799.3 1,191.7 1,264.7 1,219.2 1,246.3 1,260.0 1,272.2 1, 280.4

Net exports of goods and services..

1,302.0

124.4
84.3
40.1
214.5

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

Table 2.—Gross National Product by Major Type of Prodiict
Gross national product
Final sales
. .
Change in business inventories

in

77.0
261.9
95.4
166.6

263.6

82.3
265.5

96.0
167.7

97.3
168.2

Current and Constant Dollars (1.3, 1.5)

1 531 0 1,679.7 1 592 5 1 621.4 1,659 2 1,694 7 1,743.4 1,785. 5 1, 203. 7 1,256.6 1, 224. 7 1, 235. 9 1, 248. 8 1,262.0 1,279. 5 1,292.9
10.4
10.2
.9
9.2
-5.5
8.1
11.1
1.7
-14.6
14.8
16.0
15.1
11.9
-4.3
13.8 -12.0

Goods...
Final sales
Change in business inventories

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

802.9
789.1
13.8

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
.9

596.3
587.1
9.2

Durable goods
Final sales.
Change in business inventories

254 4
266 5
I9 1

300.5
297.8
27

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

333 7
325.6
8.2

204 7
214.1
-9.4

2°9 Q
22S.1
1.8

213.4
220. 7
—7.4

221.9
294. 3
—2. 4

230.5
296.7
3.8

234.6
230.0
4.6

232.6
231.5
1.1

248.5
242.8
5.7

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

427 3
499 8
—2 6

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

469.1
463.6
5.6

327.9
330.6
—2.7

345.9
339.6
6.4

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

347.7
344.3

772 0
159.3

719 5
149.1

742 6
151.3

759 6
157.3

781.5
162.2

804.4
166.5

827.4
169.0

556.6
102.4

579.1
1Q9.8

562.8
106.4

570.3
106.6

575.3
108.7

582.1
111.0

588.8
112.8

595.0
110.7

1,272.2 1,280.4

1,302.0

Services
Structures

692 5
142.1

346.4
-.3

3.5

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...
Eesidual1
Households and institutions.
Government
Federal...
State and local.
Rest of the world.

, 588.2 1,636.2 1,675.2 1,709.8 1,745.1 1,799.3 1,191.7 1,264.7 1,219.2 1,246.3 1,260.0
1,678.1 1,577.1 1,623.2 1,662.8 1,696.1 1,730.4 1,781.4 1,186.8 1,258.7 1,214.1 1,240.4 1,254.3
1,505.7
1,277.5 1,427.4 1,340.4 1.380.7 1,415.5 ,443.1 1,470.1 1,515.5 1,004.1 1,071.6 1, 030. 2 1,055.1 1, 068.0
994.1 1,018.0 1, 031. 5
968.1 1,033.4
1,222.8 1.368.9 1,279.6 1.324.8 1,354.7 1,384. 4 1,411.6 1.452.9
890.0
865.7
925.0
912.9
926.5
1,105.0 1,239.2 , 157.6 ., 199.8 1, 226.5 , 253.1 1.277.2 1,314.7
104.0
102.4
106.5
129.7
105.1
106.9
138.1
122.0
134.4
128.2
117.8
131.2
125.0
34.2
34.1
34.9
50.8
34.3
35.1
54.8
54.0
49.4
55.0
50.0
48.7
4! 4
7.7
6.1
8.6
9.2
5.8
8.7
7.2
1.6
1.9
3.1
1.8
,516.3 1,691.6

1,266.2 1, 273. 9

1,294.3

1,078.2 1,085.1
1,039.4 1.044.8
936.2
931.8
108.6
107.5
36.2
35.0

1,105.2
1,065.5
955.6
110.0
36.2

3.8

4.0

3.5

41.5

41.8

41.7

49.7

56.0

51.5

54.8

57.0

58.9

60.7

38.5

40.9

38.8

39.8

40.4

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

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

147.0
48.1

147.4
48.1
99.3

10.6

13.4

11.1

13.0

12.4

13.7

14.7

17.9

144.2
48.2
96.0
4.8

6.0

5.1

5.9

5.6

6.0

6.5

7.7

Footnotes on foUowirg page.

HISTORICAL STATISTICS
The national income and product data for 1929-72 are in The Documents; see addresses inside front cover). The July 1976
National Income and Product Accounts of the United States, 1929-74: SURVEY contains data for 1973-75 (except for seasonally
Statistical Tables (available for $4.95, SN 003-010-00052-9, from unadjusted quarterly estimates, which are in the September 1976
Commerce Department District Offices or the Superintendent of SURVEY).




CURRENT BUSINESS STATISTICS

± 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), annualh', 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 19/4 a n d descriptive notes a r e a s shown in
the 1975 edition of B U S I N E S S
STATISTICS

1975

1976
I

II

Annual total

m |

IV

I

IV

III

II

Seasonally adjusted

1977

1976

1975

1974

I

II

|

III

IV

I

quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL I N C O M E AND PRODUCTf
bil.$__ 1,413.2

Gross national product,totalf...

1,516.3 1,691.6

1,372.7

973.2 1,079.7

Personal consumption expenditures, total..do

853.3

878.7 i

1,399.4

1,431.6

1,449.2

1,446.2

1,482.3

1,548.7

933.2

960.3

987.3

1,588.2

1,636.2

1,675.2

1,709.8

1,745.1 1,799.3

1,088.5

1,122.0 1,159.1

906.8

911.1

1,012.0

1,043.6

1,064.7

Durable goods, total 9
do_.
Motor vehicles and parts
do..
Furniture and household equipment.._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 ! 128.0
48.5 I 53.0
54.9 | 55.7

117.4
43.7
54.4

122. 1
47.6
54. 6

127.0
49.5
57.0

136.0
141.8
56. 3
59. 2
58. 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

174.0
83. 6
66.6

Nondurable poods, total?
Clothing and shoes
Food
Gasoline and oil
--

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
38'?. 8
65.0 I 66.2
186. 4
193. 7
36. 2
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
421. 6
71. 3
73. 0
211.8
215.2
39. 2 i 39. 9

429. 1
73. 5
219.2
40.1 j

434.8
73. 2
223.1
40.3

441.8
75. 9
225. 2
41.6

456.0
79. 0
230. 2
44.1

464. 7
78. 9
236.4
44.2

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
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 I 474. 9
68.4 i 69.6
159.7
163.9
36.5 I 37.0

489.1
72.8
167. 8
37.8

504. 0
77.3
171.8
38.6

520. 4
79. 7
176. 6
39. 8

-

do
do
do
do

Services, total 9
Household operation
Housing
Transportation...

I

do..
do..
_do_.
...do..

215.0

183.7

239.6

216.4

218.8

213. 3

211.5

172.4

164.4

196.7

201. 4

229. 6

239. 2

247.0

242.8

267. 9

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

204.3
149. 2
54.1
95.1

198. 3
227.7
147.1
160.0
52.0
55.3
95.1 I 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

194. 6
148.0
53. 1
94.9

194.3
145. 8
51. 2
94.6

205. 7
198. 6
146. 1 ; 148.7
51.8
52. 1
94.3
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

•254.1
173. 9
56. 6
117.4

do..
do..
.do..

55.1
10.7
12. 2

51.2
-14.6
-17.6

67. 7
11.9
11.9

55.0
7.3
7.4

49.8
9.7
12.9

46.6
— 22. 2
-25.6

48.6
-30. 0
-31.2

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

80.2
13.8
13. 0

do
do
..do

7.5
144.4
136.9

20.5
148.1
127.6

162.7
156. 0

2. 9
148. 4
145. 5

8. 1
153.8
145.7

15.0
147. 5
132. 5

24. 4
142.9
118.5

21.0
• 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

• —6. 2
• 171. 4
• 177. 6

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
365. 6
124. 4
133.4
84.3
88.2
214.5 ! 232.2

288. 0
298. 0
308. 6
106.1 ! 108.9 | 113.5
74.9
75.9 I 78.2
181. 9
189.1 j 195.1

318.5
118.1
80.2
200. 4

325. 6
120.3
82.0
205. 3

333.2
343.2 | 353.8
122.4
124.6 | 130.4
83.4
8 4 . 6 ! 87. 1
210.9 I 218.6 I 223.4

369. 6
134.5
88.5
235.0 j

376. 2
138.9
91.3
237.4

378.
138.
91.
240.

do
1,402.5
do
629.0
do
240. 2
388. 9
do
626. 6
do
d o . . . . 146.9

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

1,743.4
772. 5
307. 7
404. K
804. 4
166.5

1,785.5
789. 1

Gross private domestic investment, total...do..
Fixed investment
Nonrcsidential
Structures
_.
Producers' durable equipment
Residen (ial
Change in business inventories
No nfarm
Net exports of goods and services
Exports
Imports..

By major type of product:!
Final sales, total
Goods, total..
I)urable goods
Nondurable goods
Services
S true tures

_._-...

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

do..
.do..
do.

_

G N P in constant (1972) dollars!

10. 7

|

Gross national product, totalf....

bil.$.J

Personal consumption expenditures, t o t a l . . d o . . - . 1
Durable go<"«ds
Nondurable goods.
Svi vices

do.
....do.
.do.

Gross private domestic investment,

local.__do.--- |

V,A.> u w e^ti.u nf__
I\fMii» ;i iai__ .

.

.
11

.

t t,s')v;?u. of goods a:M'. ^e vice ,.. .
v

do
do.

... do....

. niv .i.ii- '-.c,f,;i. v .(.,- , '1,-ivK-i . t o t a l
. a 'ecu'




lo....
lo . -

-14.6
-12.1
-2.6

11.9
9.2

I
58.7 j
12.6 I
14.5 |

15.0
133. 2
118.2

56.8 !
13.0 !
13.9
3.9
142. 2
138. 3

1,360.0 1,386.4
608.4
621.9
240. 6
232.3
376.1 I 381.3
614.6
605. 1
150. 0
146.5
12.6 !
6. 6 I
6.0 !

13.0
2. 2

io!s

1,424.2 1,439.4
642.8
643. 0
247.6 | 240. 2
402. 6
395.4
652. 8
633.8
143. 8
147.4
7.3
5.1
2. 3

9.7
14, 5
-4.7

52.6 I
-2.0 !
-4.2 j
21. 4
148.2
126.8

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 I
666.3 | 68 4. 2 j 700, 2 j
137.2 I 137. 1 ! 145. 0
-22.2
-15.4
-6.8

-30.0 j
-15.3 !
-14.7 I

1.592.
724.
280.
4 43.
719.
149.

354.7 ! 362.0
129. 2 ! 131.2
86. '2 I 86. 9
225. 5 I 230. 9

.,621.4 i 1,659.2 1,604
751. 0
727.5 ! 742. 4
286.3 || 295.8
301. 4
449. 6
441. 1 j 446. 6
781. 5
742.6 I 759.Q
151.3 I 1 5 7 . 3 162. 2
14.8 I
-3. 6 i
18.5 i

-2.0 i
-7.0 I
5.0 !

16. Q
5.4
10.0

15. 1
6.
8. 3

169. 0

1.7
2.0
-.3

I i o-'.-> o

463. (
>
• 8_'7. 4

I 1 9fiO ±

|
1.214 0 ' 1,101 * '1,261.7
75/ 1

",~,0

182 0

I 7 ^

17) *

»,

HIS

51 b

•r i
,Y> 8
<"' 4

1 3 <

to; 2

6' 1 •

317.
C
O

12) <> VS 2

US 7

It". I
I'O

t) "
ll'j

-

115 0
.010
Ji~ '»

*

800

1*6 '
iOl )

1H i
sin x

,*t

1,216 '

78' :

"5 4 b

12") h
iV) 3
4

1,210 :

775 i

74* 1

"61 )

K/J 1
) "5

IS. J
ii) 7

r i

ui •
>

i

10b 0
IUVJ 6 I

?4*

IP "
5
lil i
* 4
S
- 2 I)

1,260

1,201 3

7^ 7 r i

1 161 1

7b4 7

761 >
5

!

1,177 1

1,230.4 I 1,220.8 ' 1,212.9 ' 1,191.7

813 7

111
--O

0

5
2
5
3

Jl1

SURVEY OF CURRENT BUSINESS

S-2
Unless otherwise stated in footnotes below, data j
through 1974 and descriptive notes are as shown in 1
the 1975 edition of B U S I N E S S S T A T I S T I C S
|

'

1976

19

Annual total

1975

1974
III

June 1977

IV

I

II

1976
III

IV

I

1977

II

III

IV

I

II

III

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
Tndex, 1972=100..
Personal consumption expenditures
do
Durable goods
.
c\n
Nondurable goods
do
Services
do
Gross private domestic investment:
Fixed investment-_
do
Nonresidential
do
Residential
do

116.41
116.9
108.3
124 0
113.5

127. 25
120. 3
117.7
133 7
122.7

133. 75
132.7
124 4
138 0
131.0

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

138.19
137.4
128.9
c 142. 2
136.2

117.7
116.1
122.3

132.4
132.1
133.2

139.9
138.2
143.9

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

146.1
142.2
155.3

118.3
117.1
119.0

129.9
130.0
129.8

138. 4
138.0
138 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

141.8
141.6
141.9

144.2
143.3
144.8

1,135.7

1,207. 6

1,348.4

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

1,435.2

875.8
764.5
160.4
604.1
111.3

928.8
800. 7
175.8
030.8
122.1

, 028.4
890.4
190.7
699 7
138.0

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
861.5
185.4
676.1
132.9

1,017.2
881.1
188.7
692.4
136.2

1,037.5
897.8
191. 7
706.1
139.6

1,064.5
921.0
197.0
723.9
143.5

1,097.7
947.1
200.0
747.1
150.5

86.9
25.8
61.1

90.2
24 9
65.3

90.7
22 8
73 8

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

103.6
24.0
79.6

21.0

22.4

23.5

21.0

21.5

21.9

22.3

22.4

22.9

23.3

23.1

23.4

24.3

25.1

84.8

91.6

117.8

81.7

74.1

69.0

86.6

105.3

105.6

115.1

116.4

122.0

117.8

'119.9

76.7
14.1
62.6
36.9
11.9

97 0
12 9
84 1
46.4
17.2

125 8
14 4
111 4
64.3
27.6

75 1
14.6
60.5
37.7
10.7

69 5
13 1
56.3
31.6
9.0

72 1
13 9
58 2
29.7
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

125.6
15.4
110.3
62.3
26.5

' 126.0
'15.9
' 110.1
63.3
28.2

6.0
11.2

7.9
6.2

9.9
7.5

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

10.7
7.2

10.8
8.5

12 2
'10.9

do
— d o do
do
do

127.6
52.4
75.2
30.8
44.4

114 5
49.2
65 3
32 1
33.2

147 9
64.4
83 6
35 1
48.4

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

141 1
61.4
79 7
33.1
46.6

146. 2
63.5
82.7
34.4
48.3

150.2
65.1
85.1
35.4
49.7

154.2
67.4
86.8
37.7
49.1

' 160.0
'68.8
' 91. 2
37.6
'53.6

...do....
do

-39.8
—3.0
67.1

-11.4
11 5
74 6

-14.6
15 5
82 0

-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

-23.1
-17.0
88.9

Govt purchases of goods and services
Federal
State and local

do
do
do

National income, totalf

bil. $

Compensation of employees, total
Wages and salaries, total
Govt. and govt. enterprises
Oth< r
Supplements to wages and salaries

...do
..do....
do
do
c\r>

Proprietors' income with inventory valuation
and capital consumption
adjustments,
total
h?i $
Farm
do
do
Nonfarm
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
^n
Financial
do
Nonfinancial, total 9
do
Manufacturing, total 9
—do—
rin
Durable goods
Transportation, communication, and
electric, gas, and sanitary serv
.bil. $..
Rest of the world
^
Profits before tax total
Promts tax liability
Profits after tax
Dividends
Undistributed profits

_._

Inventory valuation adjustment
CaDiial consumDtion adiiistment
Net interest

Hn

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 1,172.5 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
205.3
195.8
142 2
Less" Personal tax and nontax payments
'^
174 0
170 4
174 5
179 8
178 3
179 3
189.5
183 8
193 6
108 8
?
1,216.5
982. 9 1,080.9 1,181.7
Equals: Disposable personal income
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
-..do....
1,148.6
983.6 1 Oil. 1 1 036 2 1 068 0 1,089.6 1,114.3
Less: Personal outlays©
910.7
930.4
do
935 0
956 7
990 9 1 105 2
67.8
75.8
72 2
104.5
82.9
80.5
Equals' Personal saving§
79.5
83.7
67.6
80.8
67.2
84.0
76.5

1,464.0
218 2
1 °45 8
1,186.1
59.7

NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All Industries.
Manufacturing
Durable goods industries 1
Nondurable goods industries f

i 33.99
15.29
0.95
8.35

' 16. 08
'1.02
'.59
'.33
'.61

' 19.10
r
1.14
r
. 71
r
. 40
.02

18.70
1.12
.59
.45
.04

' 5. 55
'4.78
'.77
3.30
'5.27

' 6. 40
r
5.32
' 1.14

0.48
5.33
1.15

' 2 9. 77

2 9.42

12522
54.44
25.50
28.93

• 130.10 'U34.46
r
50. 43 r 58. 02
r
20. 30
r
30.13 T 32.20

1136.91
61. 77
28. 30
33.40

67.76
4.21
2.69
1.12
3.44

70.78
4.13
2.63
1.41
3.49

" 73. 74 ' 75. 84
•
r
4. 24
r
r
2.71
2. 09
r
r
1. 02
1. 52
r
r
2.90
2. 39

75.14
4.54
2.37
1.94
2.43

21.67
18.22
3.45
13.64
20.99

23.46
19.49
3.96
14.30
21.36

' 25. 35
' 21.19
' 4.10
14.19
'22.07

' 25. 05

25.72
21. 58
4.14

112.40
46.01
22.62
23.39

112 78
47 95
21.84
26.11

120 49
52 48
23 68
28.81

28.23
11.62
5.65
5.U6

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

' 29. 20
' 12. 52
' 5.80
'6.72

Nonmanufacturing
Mining
.
Railroad
A lr transportation...
Other transportation

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

16.61
.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

17.44
.97
.62
.43
.93

14.91
.92
.49
.26
.72

17.04
.99
.68
.42
1.02

16.93
1.04
.64
.26
.95

19.14
1.05
.70
.35
.94

Public utilities
Electric
Gas and other
Communication
Commercial and other

do
do
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

5.20
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

5.70
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

5.52
4.54
.98
3.33
5.19

6.46
5.34
1.12
3.84
5.78

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

66.94
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

.

20.16
17.47
2.68
14.01
22.84

20.93
17.76
3.17
14.04
22. 04

20.28
17.03
3.25
13.36
20.82

19.52
16.41
3.11
12.50
20.83

19.79
16.58
3.21
12. 9*
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
12.62
20.94

Seas. adj. qtrly. totals at annual rates:
All industries
do
Manufacturing
...do...
...do...
Durable goods industries TNondurable goods industries 1 . . . — d o —
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication
Commercial and other.
r

do
do
...do

„

Revised.
v Preliminary.
i Estimates (corrected for systematic biases) for Apr.Jnnc 1077 and July-Sept. 1977 based en expected capital expenditures of business. 2Expected
expenditures for the year 1977 appear on p. 20 of the June 1977 SURVEY. Includes
communicr.tion.
fSee corresponding note on p. S-l.
9Includes data for items not
shown separately.
©Personal outlays comprise personal consumption expenditures,




rl

33. 79
' 14. 03
' 0.57
'8.06

do
. do
do

hil $

r

4. 50

2 38.14

interest paid by consumers to business, and personal transfer payments to foreigners (net).
§Personal savins; is excess of disposable income over personal outlays.
.
IData for individual durable and nondurable goods industries components appear in the
C
Mar., June, Sept., and Dec. issues of the SURVEY.
Corrected.

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