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SURVEY OF CURRENT BUSINESS

10

April 1978

NATIONAL INCOME AND PRODUCT TABLES
1977

1976
1976

1977

I

IV

II

1978

III

IV

_>

1976
1976

1977

1977

I

IV

Seasonally adjusted at annual rates

II

1978

III

IV

IP

Seasonally adjusted at annual rates

Billions of current dollars

Billions of 1972 dollars

Table L.—Gross National Product in Current and iConstant Dollars (1 .1, 1.2)
1,706.5 1,889.6 1,755.4 1,810.8 1,869.9 1,915.9 1,961.8 1,992.9 1,274.7 1,337.3 1,287.4 1,311.0 1,330.7 1,347.4 1,360.2 1,358.3

Gross national product

1,094.0 1,211.2 1,139.0 1,172.4 1,194.0 1,218.9 1,259.5 1,284.0

Personal consumption expenditures.

821.3

861.2

839.8

850.4

854.1

860.4

879.8

879.2

186.0
499.9
573.7

184.0
505.8
594.3

127.5
321.6
372.2

130.7
329.4
379.7

136.9
329.7
383.8

137.9
330.0
386.3

136.5
332.4
391.4

141.6
342.7
395.5

137.6
339.2
402.3

294.2

243.4

177.0
466.6
528.8
271.8

294.9

303.6

306.7

314.4

173.0

138.2
333.7
389.2
195.5

169.2

186.7

197.2

200.8

197.5

199.7

230.0

276.1

244.3

258.0

273.2

280.0

293.2

297.9

164.5

183.7

171.0

177.0

184.0

185.1

188.7

188.4

161.9
55.8
106.1

Durable goods
Nondurable goods
Services

185.1
61.5
123.6

167.6
57.0
110.6

177.0
57.9
119.2

182.4
61.0
121.4

187.5
62.6
124.9

193.5
64.5
129.0

197.7
65.1
132.6

116.8
37.1
79.7

126.8
38.4
88.4

119.0
37.3
81.7

124.3
37.0
87.3

126.4
38.2
88.1

127.6
38.9
88.7

128.9
39 4
89.5

129.4
39.2
90.2

68.0
65.7

91.0
88.4

76.7
74.3

81.0
78.5

90.8
88.2

92.5
89.9

99.7
97.1

100.2
97.4

56.9
55.1

52.0
50.2

52.7
50.9

57.6
55.7

1.1

1.1

1.0

.7

.7

1.4

1.4

1.5

1.6

1.7

1.0

.7

1.1

1.1

1.1

.8

59.9
58.0

59.0
57.0

1.1

1.2

57.5
55.7

1.1

1.1

47.7
46.0

1.0

1.1

.7

1.1

1.2

1.3

13.8
14.1
-.3

21.7
22.4
-.7

23.6
23.1
.5

13.5
9.0
4.5

16.5
15.5
1.0

8.5
10.1
-1.6

11.8
11.1
.7

-1.8
.7
-2.5

9.7
9.9
-.2

13.2
13.6
-.5

15.7
15.3
.4

8.7
55
3.2

11.3
10.7
.6

158.9
442.7
492.3

Gross private domestic investment

_ _ 243.3
_

Fixed investment

_ _

Nonresidential - _
_
Structures
Producers' durable equipment . .
Residential. „ _
_
Nonfarm structures
__
Farm structures
Producers' durable equipment

_

1.3

Change in business inventories _
Nonfarm
Farm

179.8
480.7
550.7

166.3
458.8
513.9

1.4

13.3
14.9
-1.6

18.2
17.1
1.0

1.3
-.9
1.4
-2.3

178.6
474.4
541.1

177.6
481.8
559.5

.7

.7

.6

7.8

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

_

__ __

-10.9

3.0

-8.2

-9.7

-7.5

-18.2

-22.6

16.0

9.5

13.8

10.6

9.4

12.2

5.9

4.5

162.9
155.1

Net exports of goods and services.

174.7
185.6

168.5
165.6

170.4
178.6

178.1
187.7

179.9
187.4

170.6
188.8

178.3
200.8

95.8
79.8

97.5
88.0

96.9
83.1

96.9
86.3

98.5
89.1

99.8
87.6

94.8
88.9

97.1
92.6

361.4

395.0

370.0

374.9

390.6

400.9

413.8

417.1

264.4

271.1

145.4
94 3
51.1
249.6

134.2
88.4
45.8
235.8

136.3
89.7
46.7
238.5

143.6
93.4
50.2
247.0

153.8
98.5
55.2
260.0

153.1
99.2
53.8
264.1

130.1
86 8
43.3
231.2

148.1
95.6
52.5
252.9

96.5
167.9

264.6

263.3

270.0

274.0

277.0

274.9

101.4 ! 97.1

97.0

101.1

103.3

104.2

102.1

167.5

166.4

168.9

170.7

172.8

172.8

169.7

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

1,706.5 1,889.6 1,755.4 1,810.8 1,869.9 1,915.9 1,961.8 1,992.9 1,274.7 1,337.3 1,287.4 1,311.0 1,330.7 1,347.4 1,360.2 1,358.3

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

1,693.1 1,871.4 1,756.3 1,797.0 1,848.2 1,892.2 1,948. 2 1,976.4 1,266. 2 1,325. 5 1,289.2 1,301.2 1,317.5 1,331. 8 1,351.5 1,346.9
16.5
8.5
13.2
11.3
-1.8
9.7
23.6
13.5
11.8
15.7
21.7
13.8
18.2
-.9
13.3
8.7
864.9
613.1
602.4
608.5
843.5
624.4
615.9
617.0
827.1
862.5
580.1
581.9
834.7
774.7
805.9
764.2
848.4
595.3
571.6
601.2
592.7
604.5
601.3
849.0
583.7
615.7
805.4
819.9
816.6
775.6
792.1
750.9
16.5
8.5
13.2
11.3
15.7
13.5
11.8
-1.8
9.7
21.7
8.7
23.6
-.9
13.8
13.3
18.2

Durable goods
Final sales
Change in business inventories.

303.4
299.3
4.1

341.3
332.2
9.1

312.6
312.0
.6

334.4
326.6
7.8

341.0
329.5
11.5

342.3
332.1
10.3

347.6
340.9
6.8

352.2
338.4
13.9

235.2
232.4
2.8

253.8
247.7
6.1

237.0
237.0
.1

252.3
246.7
5.6

254.7
247.4
7.3

253.5
246.8
6.7

254.8
250.1
4.6

253.9
245.0
8.9

Nondurable goods
Final sales
Change in business inventories.

460.9
451.6
9.3

493.4
484.3
9.1

462.1
463.6
-1.6

471.5
465.6
6.0

486.1
475.9
10.2

501.2
487.8
13.4

514.9
508.1
6.8

512.6
510.0
2.6

344.9
339.3
5.7

359.3
353.5
5.8

344.8
346.7
-1.9

350.1
346.0
4.2

353.8
347.9
5.8

363.5
354.5
9.0

369.7
365.6
4.1

362.0
359.6
2.4

782.0
160.2

867.4
187.5

813.8
166.9

833.7
171.2

855.3
187.5

881.6
190.7

898.8
200.4

929.2
198.9

584.7
109.9

606.2
118.0

593.6
111.9

597.1
111.5

602.9
119.3

611.1
119.4

613.8
122.0

623.5
118.9

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. _
Kesiduali

1,692.1 1,872.5 1,740.9 1,793.2 1,851.4 1,898.2 1,947.1 1,975.5 1,268.0 1,330.1 1,280.9
1,444.3 1,603. 6 1,485. 2 1,532.3 1,586. 4
1,390.9 1,553.5 1,433.4 1,478.0 1,536. 7
1,258.7 1,407.4 1,296.8 1,337.4 1,392. 7
140.6
144.1
136.5
132.3
146.1
50.8
46.4
47.9
51.0
50.3
-1.2
5.5
3.3
-.2
5.3

1,303.3 1,322.8 1,340.1 1,354.2 1,351.3

628.1 1,667. 7 1,689.2 1,082. 0 1,141. 2 1,093.9 1,116. 2 1,134.9 1,150.5 1,163. 3 1.159.3
580.0 1,619. 5
1,043. 8 1,104. 6 1,054.8 1,077.8 1,099. 8 1,112. 7 1,128. 0 1.126.4
966.7
431.9 1,467. 6
987.8
944.7
934.9
999.3 1,013.4 1,010.7
991.8
111.1
148.0
155.7
112.1
110.2
151.9
113.4
114.5
115.7
108.8
112.8
35.1
47.2
51.0
34.9
34.1
52.1
36.2
37.1
34.6
33.0
35.8
-3.9
3.4
4.9
.2
1.6
-1.7 2 -1.7
5.2

Rest of the world.

63.0

58.3

60.4

62.0

63.6

66.2

69.0

40.2

41.4

40.6

40.6

41.2

41.7

42.1

42.4

205.8
66.5
139.4

197.5
64.7
132.8

200.5
65.4
135.1

203.1
65.5
137.6

206.5
65.8
140.7

213.2
69.1
144.1

217.3
69.8
147.5

145.8
48.4
97.3

147.5
48.6

146.4
48.6
97.8

146.5
48.6
97.9

146.7
48.6
98.1

147.9
48.7
99.2

148.7
48.7
100.1

149.6
48.7
100.9

14.4

Government
Federal
State and local..

56.2
191.6
62.4
129.2

Households and institutions-

Preliminary.

1,706.5 1,889.6 1,755.4 1,810.8 1,869.9 1,915.9 1,961.8 1,992.9 1,274.7 1,337.3 1,287.4 1,311.0 1,330.7 1,347.4 1,360.2 1,358.3

17.1

14.4

17.6

18.4

17.7

14.7

17.4

6.7

7.2

6.5

7.7

7.9

7.4

6.0

7.0

NOTE.—Fourth quarter 1977 corporate profits and related totals are revised. This applies to all tables that contain corporate profits or related items.

HISTORICAL

STATISTICS

The national income and product data for 1929-72 are in The Documents; see addresses inside front cover). Data for 1973 and
1974-76 are in the July 1976 and July 1977 issues of the SURVEY,
Statistical Tables (available for $4.95, SN 003-010-00052-9, from respectively (except for seasonally unadjusted quarterly estimates,
Commerce Department District Office or the Superintendent of which are in the September 1976 and August 1977 issues).
National Income and Product Accounts of the United States, 1929-7'4:




CURRENT BUSINESS STATISTICS

x HE STATISTICS here update series published in the 1975 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
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, 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.
OF CURRENT BUSINESS.

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

1976

1977

1975

I

II

III

IV

I

II

1978

1977

1976

III

IV

I

III

II

IV'

I P

Annual total
Seasonally adjusted quarterly totals at annual rates

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

-

bil.$._ 1,528.8

1,706.5 1,889.6

1,453. 0

496.6

564.9

600.7

651.2

691.9

727.3

755.4

810.8

1,915.9

, 961.8 ,992.9

980.4

1,094.0

, 211. 2

936.5

965.9

995.1

024.1

056.0

078.5

102.2

139.0

, 172.4

194.0

1,218.9

,259.5

, 284.0

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.

132.9
53.9
58.0

158.9
71.9
63.9

179.8
83.8
70.3

122.8
48.0
54.8

127.8
49.9
57.4

136.7
56.5
58.7

144.3
61.3
61.0

153.3
68.8
62.0

156.7
71.0
63.0

159.3
72.1
63.9

177.0
85.3
67.4

178.6
84.5
69.3

177.6
81.2
70.9

186.0
••84.2
'74.3

184.0
84.6
72.1

409.3
70.2

209.5
39.1

442.7
76.3
225.5
41.4

480.7
82.6
246.3
44.8

394.0
66.6
202.6
38.2

406.4
69.8
207.9
39.7

415.0
71.5
212.1
39.1

421.9
73.0
215.4
39.8

430.4
74.2
219.3
40.6

437.1
74.3
223.9
40.3

444.7
76.9
227.0
41.2

166.3
75.7
66.5
458.8
79.9
232.0
43.5

466.6
79.3
237.9
44.1

474.4
80.4
244.8
44.3

481.8
83.3
248.3
44.2

499.9
'89.0
• 254.0
'46.3

505.8
85.3
260.5
46.6

Services, total 9
Household operation
Housing.
Transportation

do.
...do.
do.
do.

438.2
64.2
150.8
32.2

492.3
73.0
167.9
36.8

550.7
83.1
184.5
41.4

419.7
61.4
145.1
31.6

431.7
63.7
148.5
31.6

443.4
65.3
152.4
32.2

457.9
66.3
157.2
33.2

472.4
69.5
161.5
34.8

484.6
70.4
166.2
36.3

498.2
73.1
170.4
37.fi

513.9
78.8
173.7
38.7

528.8
80.7
177.6
39.5

541.1
79.2
181.9
40.5

559.5
85.2
186.7
42.3

573.7
' 86.6
r 191. 4

594.3
91.6
196.3
45.8

Gross private domestic investment, total...do.

189.1

243.3

294.2

175.1

171.2

205.4

204.7

231.3

244.4

254.3

243.4

271.8

294.9

303.6

-do.
...do.
do.
do.

200.6
149.1
52.9
96.3

230.0
161.9
55.8
106.1

276.1
185.1
66.5
123.6

197.1
149.8
53.3
96.5

196.3
147.7
51.9
95.7

200.5
148.2
52.8
95.4

208.4
150.7
53.4
97.4

216.8
155.4
54.7
100.8

226.1
159.8
55.8
104.0

232.8
164.9
56.0
109.0

244.3
167.6
57.0
110.6

258.0
177.0
57.9
119. 2

273.2
182.4
61.0
121.4

280.0
187.5
62.6
124.9

306.7
293.2
193.5
64.5
129.0

297.9
197.7
65.1
132.6

Residential
Change in business inventories.
Nonfarm..

do.
do.
.do.

51.5
-11.5
-15.1

68.0
13.3
14.9

91.0
18.2
17.1

47.3
-22.0
-25.9

48.6
-25.1
-26.9

52.3
4.9
1.4

57.6
-3.6
-9.2

61.4
14.5
15.9

66.3
18.3
20.4

67.8
21.5
22.0

76.7
-.9
1.4

81.0
13.8
14.1

90.8
21.7
22.4

92.5
23.6
23.1

99.7
13.5
9.0

100.2
16.5
15.5

Net exports of goods and services
Exports...
Imports.

do.
do.
do.

20.4
147.3
126.9

7.8
162.9
155.1

-10.9
174.7
185.6

15.4
147.4
131.9

24.3
142.7
118.3

20.8
146.9
126.1

20.8
152.1
131.3

10.2
153.9
143.7

10.2
160.6
150.4

7.9
168.4
160.6

3.0
168.5
165.6

-8.2
170.4
178.6

-9.7
178.1
187.7

-7.5
179.9
187.4

-18.2
170.6
188.8

-22.6
178.3
200.8

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

338.9
123.3
83.9
215.6

361.4
130.1
86.8
231.2

395.0
145.4
94.3
249.6

326.0
119.6
81.6
206.4

335.2
121.8
83.0
213.3

343.5
123.8
84.4
219.7

351.0
128.1
86.7
222.9

353.6
127.6
86.3
225.9

358.9
128.5
86.0
230.4

363.0
130.2
86.4
232.7

370.0
134.2
88.4
235.8

374.9
136.3
89.7
238.5

390.6
143.6
93.4
247.0

400.9
148.1
95.6
252.9

413.8
153.8
98.5
260.0

417.1
153.1
99.2
264.1

1,693.1 1,871.4
750.9 -•810. G
299.3 '332.2
451.6 '484.3
782.0 '867.4
160.2
187.5

, 475.0
665.8
250.6
415.2
670.5
138.8

, 521.7
692.9
263.8
429.1
689.5
139.3

, 506.6 ,604.4
725.2
706.6
272.5
283.1
434.2
442.1
708.4
728.3
145.0
150.8

, 636.7
730.0
287.6
442.4
751.6
155.0

, 673. 7
743.4
294.9
448.5
770.8
159.4

, 705.8
754.5
302.7
451.8
791.8
159.6

756.3
775.6
312.0
463.6
813.8
166.9

, 797.0
792.1
326.6
465.6
833.7
171.2

,848.2 1.892.2 1, 948. 2
849.6
819.9
805.4
340.9
332.1
329.5
508.1
487.8
475.9
898.8
881.6
855.3
200.4
190.7
187.5

,970.4
848.4
338.4
510.0
929.2
198.9

14.5
-2.0
16.6

18.3
7.0
11.2

21.5
10.7
10.9

-.9
.6
-1.6

13.8
7.8
6.0

13.5
6.8
6.8

16.5
13.9
2.6

Personal consumption expenditures, total..do

,

Fixed investment
Nonresidential.
Structures. _
Producers' durable equipment

By major type of products
Final sales, total
G oods, total
Durable goods
Nondurable goods.
Services
Structures
Changein business inventories
Durable goods
Nondurable goods

'43.8

314.4

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

1,540.3
697.7
267.5
430.2
699.2
143.5

do..
...do.
do.

-11.5
-9.2
-2.2

13.3
4.1
9.3

'18.2
^9.1
'D.I

-22.0
-12.8
-9.2

-25.1
-11.7
-13.4

, 188.2 1,220.7 1,229.8 1,256.0 1,271.5 1,283. 7 1,287.4 1,311.0 1,330. 7 1,347.4 1, 360. 2 1,358.3
879.8
879.2
850.4
854.1
807.2
822.7
780.2
792.8
815.5
860.4
839.8
770.4

4.9
-2.1
7.0

-3.6
-10.3
6.7

21.7
11.5
10.2

23.6
10.3
13.4

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

bil.$.

1,202.1

1,274.7

1,337.3

, 169.8

Personal consumption expenditures, total..do...

775.1

821.3

861.2

756.9

Durable goods
.do...
Nondurable goods.
do...
Services
_
do...
Gross private domestic investment, total...do...

112.7
307.6
354.8

127.5
321.6
372.2

138.2
333.7
389.2

106.2
301.8
349.0

109.0
308.4
353.0

115.4
308.6
356.2

120.2
311.5
361.2

125.4
316.1
365. 6

126.7
319.3
369.6

127.1
321.5
374.0

130.7
329.7
379.7

136.9
329.7
383.8

137.9
330.0
386.3

136.5
332.4
391.4

141.6

173.0

'195.5

133.0

130.9

153.1

149.2

168.1

175.2

179.4

169.2

186.7

197.2

177.0
124.3
52.7
9.7

184.0
126.4
57.6
13.2

141.6
342.7
395.5

137.6
339.2
402.3

200.8

197.5

199.7

185.1
127.6
57.5
15.7

188.7
' 128.9
59.9
8.7

188.4
129.4
59.0
11.3

Fixed investment
Nonresidential
Residential
Change in business inventories

_do.._
do
.__do~[~
do...

Net exports of goods and services

do...

22.5

16.0

10.0

20.5

24.5

22.7

22.3

16.8

16.4

17.0

13.8

10.6

9.4

12.2

5.9

4.5

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

263.0
96.7
166.3

264.4
96.5
167.9

271.1
101.4
'169.7

259.4
96.0
163.4

262.3
96.5
165.8

264.8
96.9
167.8

265.4
97.4
168.0

263.9
96.4
167.5

264. 5
96.1
168.4

264.6
96.7
168.0

264.6
97.1
167.5

263.3
97.0
166.4

270.0
101.1
168.9

274.0
103.3
170.7

277.0
104.2
172.8

274.9
102.1
172.8

151.5
112.7
38.8
-9.9

164.5
116.8
47.7
8.5

'183.7
'126.8
56.9
'11.8

152.9
116.6
36.3
-20.0

148.9
112.0
36.9
-18.0

'Revised.
v Preliminary.
fRevised series. Estimates of national income and product
and personal income have been revised back to 1973 (see p. 16 ff. of the July 1977 SURVEY);




150.2
111.0
39.3
2.9

153.8
111.3
42.6
-4.

158.4
113.7
44.8
9.7

163.1
115.9
47.1
12.1

165.6
118.5
47.1
13.8

171.0
119.0
52.0
-1.8

revisions prior to May 1976 for personal income appear on p. 28 of the July 1977 SURVEY.
e
9 Includes data for items not shown separately.
Corrected.

S-l

SURVEY OF CURRENT BUSINESS

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

1975

1976

1977

1975

III

II

A n n u a l total

April 1978

IV

I

II

1978

1977

1976

III

IV

I

II

III

I

IV

II

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCTj—ConQuarterly Data Seasonally Adjusted

Implicit price deflators:f
Gross national product
Index, 1972 = 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
do
Federal
do
State and local.
do

127.18
126.5
117.9
133.1
123.5

133.88 141. 29
133.2 ' 140. 6
124.7
130.1
137.7
144.0
141.5
132.3

125.96
125.4
117.2
131.8
122.3

128. 28
127.5
118.4
134.5
124.5

130.17
129.2
120.1
135.5
126.8

131.47
130.8
122.2
136. 2
129.2

133.06
132.3
123.8
136.9
131.1

134. 56 136.35
135.6
134.0
127.2
125.3
139.3
138.3
135.4
133.2

138.13
137.9
129.3
141.5
137.8

140.52
139.8
129.5
143.8
140.1

142.19
141.7
130.0
144.9
142.9

144. 23 14f>. 73
14li. 0
143. 2
133.7
131. 3
149.1
145.9
147.7
145.0

r

132.4
132.3
132.8

139.8
138.7
142.5

150. 3
140.0
160.3

131.8
131.8
131.7

133.5
133.6
133.2

135. 5
135.5
135.4

136.9
136.8
137.1

138.6
137.8
140.7

140.6
139.2
144.1

142.9
140.9
147.5

145.8
142.5
153.7

148.5
144.4
157.6

151.3
146.9
160.9

155.3
150.1
164.0

158.1
152.8
169.9

128.9
127.5
129.7

136.7
134.8
137.7

145. 7
143. 4
147.1

127.8
126.3
128.6

129.7
127.7
130.9

132.3
131.5
132.7

134.0
132.4
134.9

135.7
133.7
136.8

137.2
134.7
138.6

139.8
138.2
140.7

142.3
140.6
143.4

144.6
142.0
146.2

146.3
143.3
148.1

149.4
147. 6
150.5

151.7
149.9
152.8

_bil. $.. 1,217.0 1,364.1 1,520.5 1,191.4 1,244.9

1,275.7

Quarterly Data Seasonally Adjusted at Annual Rates

National income, totalf...

Compensation of employees, total
do
Waeesand salaries, total
do
Govt. and govt. enterprises
do
Other
do....
Supplements to wages and salaries
do
Proprietors' income with inventory valuation
and capital consumption adjustments,
total
.bil. $..
Farm
do
Nonfarm
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
Nonfmancial, total 9
-do
Manufacturing, total 9
do
Durable goods
do
Transportation, communication, and
electric, gas, and sanitary serv bil. $..
Rest of the world
do

930.3
805.7
175.4
630.3
124.6

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

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

86.0
23.2
62.8

1,036.3 1,156.3
891.8 ' 990. 0
187.2
199.9
704.7 ' 790.1
144.5
166.3

88.0
18.6
69.4

22,3

25.3

Prel]

,109.9 1,144.7
980.9
951.3
197.2
194.8
783.6
756.4
163.8
158.6

1,540.5 '1,585.7
1,167.4 1,203. 3 1,242. 5
998.9 1,029.1 1,057.4
200.6
209.9
206.9
798.3
847.5
822.2
168.5
185.1
174.3

965.6
834.9
181.2
653.8
130.7

84.3
22.7
61.6

90.4
26.2
64.2

90.4
25.5
64.9

86.9
20.0
66.9

90.4
21.6
68.8

86.2
16.2
70.0

88.7
16.6
72.0

95.1
20.7
74.3

97.0
19.7
77.3

95.5
15.5
80.0

105.0
22.7
82.4

102.4
19.7
82.8

22.3

22.2

22.6

23.0

22.9

23.3

24.1

24.5

24.9

25.5

26.4

26.9

99.3

128.1

' 139.9

92.7

115.6

114.7

126.5

129.2

133.5

123.1

125.4

140.2

149.0

• 144.1

134.6
18.2
116.4
66.3
29.9

' 147.8
'20.7
' 127.2
' 75.4
' 37. 5

98.4
14.3
84.1
43.4
15.4

122.6
14.7
107.9
59.6
25.9

123.2
16.1
107.1
59.1
23.8

132.4
17.8
114.6
65.3
27.2

136.1
18.1
118.0
68.7
32.5

139.8
18.4
121.3
68.4
31.0

130.2
18.4
111.8
62.9
29.0

131.0
19.2
111.8
65.2
31.5

145.5
19.9
125.5
76.4
39.4

157.4
21.2
136.1
77.6
37.5

157. 5
22.3
135.2
82.2
41.8

9.3
6.1

11.5
8.1

12.9
'9.3

8.5
6.2

11.1
6.3

12.1
6.0

11.1

12.1

8.6

7.6

12.2
8.4

10.4
7.7

11.6
10.1

11.5
10.7

14.1
9.6

14.5
6.7

123.5
50.2
73.4
32.4
41.0

156.9
64.7
92.1
35.8
56.4

'171.7
' 69. 2
' 102. 5
'41.2
'61.4

113.9
45.9
68.2
32.2
36.0

137.7
56.3
81.4
32.9
48.5

141.0
57.9
83.1
32.5
50.6

153.5
63.1
90.4
33.6
56.8

159.2
66.1
93.1
35.0
58.1

159.9
65.9
94.0
36.0
58.0

154.8
63.9
90.9
38.4
52.5

161.7
64.4
97.2
38.5
58.8

174.0
69.7
104.3
40.3
64.1

172.8
69.3
103.6
42.3
61.2

'178.3
'73.3
' 105.0
'43.6
61.4

-12.0
-12.2
79.1

-14.1
-14.7
88.4

-14.6
-17.2
100.9

-9.3
-11.9
77.6

-8.8
-13.3
79.9

-11.8
-14.5
82.3

-12.4
-14.6
85.0

-15.5
-14.6
86.5

-11.7
-14.7
90.1

-16.9
-14.8
92.0

-20.6
15.5
95.3

-17.8
15.8
98.9

-5.9
-17.6
103.1

-14.1
-19.4
106.1

1,530. 7 1,234.7 1,269.7 1,304.0 1,338.1 1,366.7 1,393.9 1,432.2 1,476.8 1,517.2 1,549.8
200. 6
209.5
142. 5
173. 9 179.9
227. f
>
224.8
226.1
224.4
184.8
192.6
1,309. 2 1,092.2 1,095.7 1,124.1 1,153. 3 1,174.1 1,193.3 1,222.6 1,252.4 1,292.5 1,323.8
'1,241.9
M 1,019.1 1,048.6 1,080.9 1,103.8 1,128.5 1,166.3 ,201.0 1,223.9 1,250.5
67.3
64. 8
56. 3
68.5
75.5
76.7
73.3
51.4
103.1
72.4
70.3

43.8
-24.6
-20.6
109.4

1,603.0 1,636.7
234.7
236.3
1,3683 1, 400. 5
1,292.2 1,317.9
76.1
82.6

135.80
60.16
27.77
32.39

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

33.73
14.84
6.79
8.06

34.82
15.60
7.17
8.43

38.06
17.19
8.00
9.18

32.84
14.00
6.60
7.40

1 37.52
16.43
7.71
8.72

75.64
4.50
2.80
1.62
2.51

16.28
.97
.71
.47
.77

16.12
.94
.62
.50
.85

17 44
97
.62
.43
.93

14.91

17.04

.92
.49
.26
.72

1.02

16.93
1.04
.64
.26
.95

19.14
1.05
.70
.35
.94

16.68
1.02
.59
.33
.61

18.88
1.16
.67
.43
.76

19.21
1.17
.78
.39
.50

20.87
1.15
.76
.46
.63

18.84
1.26
.73
.50
.49

21.08
1.32
.89
.62
.58

25.80
21.59
4.41
15.45
22.97

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

5.50
4.74

5.55
4.78
.77
3.30
5.27

6.37
5.34
1.03
3.86
5.64

6.61
5.41
1.20
4.03
5.73

7.28
6.06
1.21
4.26
6.33

7.21
6.06
1.15

3.21
5.21

6.46
5.34
1.12
3.84
5.78

6.27
5.35
.92

2.92
4.82

5.52
4.54
.98
3.33
5.19

9. 60

2 10.46

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

125. 22 130.16
54.44
56.43
25.50
26.30
28.93
30.13

134.24
59.46
27.26
32.19

140. 38
63.02
29.23
33.79

138.11
61.41
28.19
33.22

63.68
3. 78
2.70
1.60
2.75

64.76
3 82
2!"5
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

70.78
4.13
2.63
1.41
3.49

73.74
4.24
2.71
1.62
2.96

74.78
4.49
2.57
1.43
2.96

77.36
4.74
3.20
1.69
1.96

76.70
4.50
2.80
1.76
2.32

83.25
5.24
3.38
2.42
2.32

83.34
5.13
3.37
2.04
2.22

19.52

19.79
16.58
3.21
12.95
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

21.67
18.22
3.45
13.64
20.99

23.46
19.49
3.96
14.30
21.36

25.35
21.19
4.16
14.19
22.67

25.29
21.14
4.16
15.32
22.73

26.22
21.90
4.32
16.40
23.14

26.23
22.05
4.18
15.82
23. 27

28.69
23.70
4.99

28.62
23.99
4.63

16.41
3.11
12.50
20.83

Ti* ^ li -, /
rninary.
1 Estimates (corrected for systematic biases) for Jan.Mar. 19/8 and Apr.-June 1978 baeed on expected capital expenditures of business. Expected
expenditures for the year 1978 appear on p. 24 of the Mar. 1978 SURVEY. 2 Includes communication.
fSee corresponding note on p. S-l.
9Includes data for items not shown
separately.
ePersonal outlays comprise personal consumption expenditures, interest paid




1,402.1 1,450.2 1,505.7

999.6 1,024.9 1,046.5 1,074. 2
900.2
923.2
861.5
882.4
188.2
192.5
182.7
185.4
712.0
730.7
678.8
697.0
146.3
150.9
138.1
142.5

936.7
810.5
176.9
633.5
126.3

105.4
15.0
90.3
47.9
18.5

DISPOSITION OF PERSONAL INCOMEf
Personal income, total
bil. $. 1,253.4 1,382. 7
Less: Personal tax and nontax payments
do...
169.0
196.9
Equals: Disposable personal income
do... 1,084.4 1,185.8
Less: Personal outlays^
...do... 1,004.2 1,119.9
Equals: Personal saving§
.do...
80.2
65.9
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted ouarterly or annual totals:
All industries
bil. $. 112.78 120.49
Manufacturing
do. -.
47.95
52.48
21.84
Durable goods industriesif
do_..
23.68
26.11
28.81
Nondurable gcods industries^
do...
Nonmanufacturing
do.
64.82
68.01
Mining
do.
3.79
4.00
Railroad
do.
2.55
2.52
Air transportation
do.
1.84
1.30
Other transportation
do.
3.18
3.63
Public utilities
do
20.14
22.28
Electric
do...
17.00
18.80
Gas and other
do...
3.14
3.47
Communication
do...
12.74
13.30
Commercial and other
do
20.60
20.99
Seas. adi. qtrly. totals at annual rates:
All industries
do...
Manufacturing
do...
Durable goods industries^
do .
Nondurable goods industries^
do..
Nonm anufacturing
do.
Mining
.do
Railroad
do
Air transportation
I." .do"
Other transportation.
do.
Public utilities
do.
Electric
do"
Gas and other
do
Communication
IIIIIIIII~Ido~"
Commercial and other
.
do.
V ed

'98.2
19.7
78.5

1,321.0 1,353.9 1,379.6

914.4
792.4
173.7
618.6
122.1

.62

.99
.68
.42

.76

2

146.25 1149.16
63.00
65.82
29.81
31.01
33.18
34.81

2

41. 21 I 2 41.94

by consumers to business, and personal transfer payments to foreigners (net).
§ Personal saving is excess of disposable income over personal outlays.
"JIData 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