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SURVEY OF CUEEENT BUSINESS

6

June 1978

NATIONAL INCOME AND PRODUCT TABLES
1977

1976
1976

1977

IV

I

II

1978

III

IV

I'

1977

1976
1976

1977

IV

I

Seasonally adjusted at annual rates

1978

II

III

IV

Ir

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

1,706.5 1,889.6 1,755.4 1,810.8 1,869.9 1,915.9 1,961.8 1,995.3 1,274.7 1,337.3 1,287.4 1,311.0 1,330.7 1,347.4 1,360.2 1,360.3

Personal consumption expenditures..

1,094.0 1,211.2 1,139.0 1,172.4 1,194.0 1,218.9 1,259.5 1,282.4

821.3

861.2

839.8

850.4

854.1

860.4

879.8

877.9

183.5
504.3
594.6

127.5
321.6
372.2

138.2
333.7
389.2

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

137.4
337.9
402.6

158.9
442.7
492.3

Durable goods
Nondurable goods_,
Services
_
Gross private domestic investment.

179.8
480.7
550.7

166.3
458.8
513.9

177.0
466.6
528.8

178.6
474.4
541.1

177.6
481.8
559.5

186.0
499.9
573.7

243.3

294.2

243.4

271.8

294.9

303.6

306.7

320.0

173.0

195.5

169.2

186.7

197.2

200.8

197.5

204.2

299.0

164.5

183.7

171.0

177.0

184.0

185.1

188.7

189.4

230.0

276.1

244.3

258.0

273.2

280.0

293.2

Nonresidential
Structures
_
Producers' durable equipment-

161.9
55.8
106.1

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

198.8
66.2
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

130.2
39.7
90.4

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

68.0
65.7
1.0
1.3

91.0
88.4
1.1
1.4

76.7
74.3
1.1
1.3

81.0
78.5
1.1
1.4

90.8
88.2
1.2
1.4

92.5
89.9
1.1
1.5

99.7
97.1
1.0
1.6

100.1
97.3
1.1
1.7

47.7
46.0
.7
1.0

56.9
55.1
.7
1.1

52.0
50.2
.7
1.1

52.7
50.9
.7
1.1

57.6
55.7
.8
1.1

57.5
55.7
.7
1.1

59.9
58.0
.6
1.2

59.3
57.3
.7
1.3

13.3
14.9
-1.6

18.2
17.1
1.0

-.9
1.4
-2.3

13.8
14.1
-.3

21.7
22.4
— 7

23.6
23.1
.5

13.5
9.0
4.5

21.1
20.3
.8

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
5.5
3.2

14.7
14.2
.5

9.5

13.8

10.6

9.4

12.2

5.9

4.0

97.5 ! 96.9
88.0 ; 83.1

96.9
86.3

98.5
89.1

99.8
87.6

94.8
88.9

98.2
94.3

•Fixed investment

_

__

Change in business inventories.
Nonfarm
_
Farm
_~

7.8

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

3.0

-8.2

-9.7

-7.5

-18.2

-23.7

16.0

174.7
185.6

168.5
165.6

170.4
178.6

178.1
187.7

179.9
187.4

170.6
188.8

180.5
204.2

95.8
79.8

361.4

39S.0

370.0

374.9

390.6

400.9

413.8

416.6

264.4

130.1
86.8
43.3
231.2

Exports
Imports

-10.9

162.9
155.1

Net exports of goods and services

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

148.1
95.6
52.5
252.9

153.8
98.5
55.2
260.0

152.7
99.5
53.2
263.8

96.5
167,9

264.6

263.3

270.0

274.0

277.0

274.3

101.4 j 97.1

97.0

101.1

103.3

104.2

101.7

167.5

166.4

168.9

170.7

172.8

172.6

271.1

169.7

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
1,706.5 1,889.6 1,755.4 1,810.8 1,869.9 1,915.9 1,961.8 1,995.3 1,274.7 1,337.3 1,287.4 1,311.0 1,330.7 1,347.4 1,360.2 1,360.3

Gross national product..
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 1,974.3 1,266.2 1,325.5 1,289.2 1,301.2 1,317.5 1,331.8 1,351.5 1,345. 6
21.1
13.2
13.8
23.6
13.5
8.5
11.8
-1.8
9.7
15.7
18.2
-.9
21.7
14.7
13.3
8.7
827.1
865.4
613.1
602.4
608.5
843.5
862.5
581.9
617.0
624.4 616.6
580.1
834.7
774.7
805.9
764.2
844.4
592.7
595.3
819.9
601.2
583.7
601.3
849.0
571.6
615.7 601.9
775.6
792.1 805.4
750.9
816.6
21.1
9.7
13.2
23.6
8.5
-1.8
15.7
-.9
13.8
13.5
11.8
14.7
13.3
18.2
21.7
8.7

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

349.6
334.1
15.5

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

253.6
243.8

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

515.8
510.2
5.6

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

363.0
358.1
4.9

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

930.0
199.9

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

624.0
119.7

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..
Kesidual*
Households and institutions.
Government
Federal
State and localRest of the world.

1,706.5 1,889.6 1,755.4 1,810.8 1,869.9 1,915.9 1,961.8 1,995.3 1,274.7 1,337.3 1,287.4 1,311.0 1,330.7 1,347.4 1,360.2 1,360.3
1,692.1 1,872.5 1,740.9 1,793.2 1,851.4 1,898.2 1,947.1 1,978.4 1,268.0 1,330.1 1,280.9

1,303.3 1,322.8 1,340.1 1,354.2 1,353.5

1,444.3 1,603.6 1,485.2 1.532.3 1,586.4 1,628.1 1,667.7 1,692.4 1,082.0 1,141. 2 1,093.9 1,116.2 1,134.9 1,150. 5 1,163.3 1,161.9
1,390.9 1,553.5 1,433.4 1,478.0 1,536.7 1,580.0 1,619. 5 1,644.8 1,043.8 1,104. 6 1,054.8 1,077.8 1,099.8 1,112. 7 1,128.0 1,128.7
966.7
987.8
934.9
944.7
1,258.7 1,407.4 1,296.8 1.337.4 1,392.7 1,431.9 1,467.6 1,489.2
991.8
999.3 1,013.4 1,013.0
144.1
155.6
111.1
112.1
140.6
151.9
108.8
110.2
132.3
113.4
115.6
148.0
112.8
114.5
146.1
136.5
50.8
51.8
35.1
34.9
51.0
52.1
33.0
34.1
47.9
36.2
35.1
47.2
35.8
37.1
50.3
46.4
-1.2
-4.2
-3.9
3.3
5.5
.9
-.2
5.3
3.4
5.2
4.9
1.6
-1.7
-1.9
.2
56.2

63.0

58.3

60.4

62.0

63.6

66.2

68.8

40.2

41.4

40.6

40.6

41.2

41.7

42.1

42.1

191.6
62.4
129.2

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

217.2
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

148.7
48.7
100.1

14.4

17.1

14.4

17.6

18.4

17.7

14.7

16.9

6.7

7.2

6.5

7.7

7.9

147.9
48.7
99.2
7.4

149.5
48.7
100.9
6.8

6.0

' Revised.

HISTORICAL STATISTICS
The national income and product data for 1929-72 are in The
National Income and Product Accounts of the United States, 1929-7'4:

Statistical Tables (available for $4.95, SN 003-010-00052-9, from
Commerce Department District Office or the Superintendent of

Documents; see addresses inside front cover). Data for 1973 and
1974-76 are in the July 1976 and July 1977 issues of the SURVEY,
respectively (except for seasonally unadjusted quarterly estimates,
which are in the September 1976 and August 1977 issues).

CURRENT BUSINESS STATISTICS

A 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

1976

III

IV

I

II

1978

1977

III

IV

I

II

III

IV

I'

Annual total
Seasonally adjusted quarterly totals at annual rates

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

bil.$_- 1,528.8

Personal consumption expenditures, total..do

980.4

1,706.5 1,889.6 1,453.0 1,496.6 1,564.9 1,600.7 1,651.2 1,691.9 1,727.3 1,755.4 1,810.8 1,869.9
1,094. 0 1,211. 2

1,915.9 1,961.8 ,995.3

936.5

965.9

995.1 1,024.1 1,056.0 1,078.5 1,102.2 1,139.0 1,172.4 1,194.0 1,218.9 1,259.5 , 282.4

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
70.5

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

166.3
75.7
66.5

177.0
85.3
67.4

178.6
84.5
69.3

177.6
81.2
70.9

186.0
84.2
74.3

183.5
85.0
71.6

409.3
70.2
209.5
39.1

442.7
76.3
225.5
41.4

480.7
8?,0
246.2
44.7

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

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

504.3
85.5
259.4
47.2

Services, total 9
Household operation
Housing
Transport ation

438.2
64.2
150.8
32.2

492.3
73.0
167.9
36.8

550.7
82.9
184.4
41.6

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
191.4
43.8

594.6
92.9
196.4
45.9

...do
do
do
...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

306.7

320.0

do
do
do
_do

200.6
149.1
52.9
96.3

230.0
161.9
55.8
106.1

276.1
185.1
61.5
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

2C8.4
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

293.2
193.5
64.5
129.0

299,0
198.8
66.2
132.6

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

100.1
21.1
20.3

...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

-23.7
180.5
204.2

Govt. purchases of gocds 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

295.0
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

416,6
152.7
99.5
263.8

Gross private domestic investment, total...do
Fixed investment
Nonresidential
Structures
--Producers' durable equipment
residential. _
Change in business inventories
Nonfarm
Net exports of goods and services.-.
Exports
Imports

By rrajor type of product:f
Final pales, total
Goods, total
Durable goods. __
Nondurable gocds.
Services
Structures
Change in business inventories
Durable gocds
Nondurable goods

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

1,€93.1 1,871.4 1,475.0 1,521.7 1,506.6 1,604.4 1,636.7 1,673.7 1,705.8 1,756.3 1,797.0 1,848.2 1,892.2 1, 948. 2 1,974.3
844.4
849.6
819.9
7E0.9
665.8
692.9
725.2
743.4
706.6
730.0
775.6
792.1 805.4
754.5
816.6
334.1
340.9
332.1
299.3
250.6
263.8
283.1
294.9
312.0
326.6
272.5
287.6
329.5
302.7
332.2
508.1 510.2
487.8
451.6
448.5
463.6
465.6
429.1
442.1
475.9
434.2
442.4
451.8
484.3 415.2
898.8
930.0
881.6
782.0
770.8
813.8
833.7
855.3
670.5
689.5
728.3
7C8.4
751.6
791.8
867.4
200.4
199.9
190.7
160.2
159.4
166.9
171.2
187.5
138.8
139.3
150.8
145.0
155.0
159.6
187.5
21.1
13.5
23.6
13.3
21.7
14.5
18.3
21.5
4.9
-3.6
-.9
13.8
18.2 -22.0 -25.1
15.5
6.8
10.3
4.1
11.5
-2.0
7.0
10.7
7.8
- 2 . 1 -10.3
.6
9.1 - 1 2 . 8 -11.7
5.6
6.8
13.4
9.3
6.0
10.2
- 9 . 2 -13.4
16.6
11.2
10.9
7.0
6.7
-1.6
9.1

GNP in constant (1972) dollarst
Gross national product, totalf

bil.$_. 1,202.1

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

do
do

Services

do

Gross private domestic investment, total...do
Fixed investment
.do
Nonresidential...
do
Residential
do
Change in business inventories..
do
Net exports of goods and services..
.do
Govt. purchases of goods and services, totaLdo
Federal
do
State and local
do

1,274.7

1,337.3 1,169.8 1,188.2 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 1,360.3
877.9
879.8
807.2
770.4
780.2
815.5 822.7
756.9
792.8
860.4
861.2
839.8 850.4 854.1

775.1

821.3

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
3C8.4
353.0

115.4
3C8.6
356.2

120.2
311.5
361.2

141.6

173.0

195.5

133.0

130.9

153.1

149.2

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

150.2
111.0
39.3
2.9

153.8
111.3
42.6
-4.6

126.7
319.3
369.6

127.1
321.5
374.0

130.7
329.7
379.7

136.9
329.7
383.8

168.1

175.2

179.4

169.2

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

125.4
316.1
365.6

141.6
342.7
395.5

137.4
337.9
402.6

200.8

197.5

204.2

185.1
12V. 6
57.5
15.7

188.7
128.9
59.9
8.7

189.4
130.2
59.3
14.7

137.9
330.0
386.3

136.5
332.4
391.4

186.7

197.2

177.0
124.3
52.7
9.7

184.0
126.4
57.6
13.2

22.5

16.0

9.5

20.5

24.5

22.7

22.3

16.8

16.4

17.0

13.8

10.6

9.4

12.2

6.9

4.0

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

274.3
101.7
172.6

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

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

S-l
6-014 (Pt. 1) O - 78 - SI




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

1977

1976

1975
III

Annual total

June 1978

IV

I

II

III

IV

I

1978
III

II

IV

lr

III

II

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCTf—Con.
Quarterly Data Seasonally Adjusted
Implicit price deflators:!
Gro^s national Drodiict
Index 1Q79—100
Personal consnmDtion exDenditures
do
Durable cfoods
do
Nondurable goods
do
Services
do
Gross private domestic investment:
Fixed investment
do
Nonresidential
do
Residential
do
Govt. purchases of goods and services
Federal
State and local

do
do
do

127 18
126 5
117 9
133.1
123.5

133 88 141 29 128 28
133 2 140 6 127.5
118.4
124 7 130 1
144 0 134.5
137.7
124.5
141.5
132.3

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
134.0
125.3
138.3
133.2

136.35
135.6
127.2
139.3
135.4

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
143.2
131.3
145.9
145.0

146.68
146.1
133.6
149.2
147.7

132.4
132 3
132.8

139.8
138 7
142.5

150.3
146 0
160.3

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

157.8
152.8
168.9

128.9
127.5
129 7

136.7
134.8
137 7

145.7
143. 4
147 1

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

151.9
150.2
152.9

Quarterly Data Seasonally Adjusted at Annual Bates
National income, totalf

bil $

Compensation of employees, total..
"VVaces and salaries total
Govt and govt enterprises
Other
SiiDDlements to wasres and salaries

...do
do
do
do
do

Proprietors' income with inventory valuation
and capital consumption adjustments,
total
hil $
Farm
do
Nonfarm
do
Rental income of persons with capital consumption adiustment
bil $
Corp. profits with inventory valuation and capital consumption adjustments, total
bil. $__
Corp. profits with invent, val. adj.:
Domestic total
do
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

1,217.0

1,364.1 1,520 5

930.3 1,036.3 1,156.3
805 7
891 8 990 0
175 4
187 2 199 9
630 3
704 7 790 1
124.6
144.5
166.3

1,244.9 1,275.7 1,321.0 1,353.9 1,379.6
936.7
810 5
176.9
633.5
126.3

965.6
834.9
181.2
653.8
130.7

1,402.1 1,450. 2 1,505.7 1,540.5 1,585.7 1, 609.9

999.6 1,024.9 1,046.5 1,074.2 1,109.9 1,144.7 1,167.4 1,203.3 1, 243.8
998.9 1,029.1 1 058 7
923.2
882 4 900.2
951 3 980.9
861.5
200.6 206.9
188.2
197.2
192.5
182.7
185.4
209. 9
194.8
798.3 822.2
783.6
730.7
697.0 712.0
756. 4
678.8
848.8
168.5
174.3
146.3
163.8
150.9
142.5
158.6
185.1
138.1

86 0
23.2
62 8

88 0
18.6
69 4

98 2
19.7
78 5

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

103 3
20.2
83 1

22.3

23.3

25.3

22.2

22.6

23.0

22.9

23.3

24.1

24.5

24.9

25.5

26.4

26.9

Inventory valuation adiustment
Capital consumption adjustment
Net interest

128.1

139.9

115.6

114.7

126.5

129.2

133.5

123.1

125.4

140.2

149.0

144.8

126.5

134 6
18 2
116 4
66 3
29 9

147 8
20 7
127 2
75 4
37 5

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

138. 9
23.1
115.8
70.2
34.4

9.3
6.1

11.5
81

12.9
9.3

11.1
6.3

12.1
6.0

11.1
8.6

12.1
7.6

12.2
8.4

10.4
7.7

11.6
10.1

11.5
10.7

14.1
9.6

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

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

14.5
6.7
178.3
73.3
105.0
43.6
61.4

14.6
8.2

do
do
do
do
do

Profits before tax total
Profits tax liability
Profits after tax
Dividends
Undistributed profits

99.3
105 4
15 0
90 3
47.9
18.5

171.9
69.5
102.4
43.8
58.5

do
do
do

-12.0
-12.2
79.1

— 14 1 —14.6
-14.7 -17.2
88 4 100 9

-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

—24.8
-20.6
109 4

DISPOSITION OF PERSONAL INCOMEf
Personal income, total
Less: Personal tax and nontax payments
Equals: Disposable personal income
Less: Personal outlays©
Equals: Personal saving§

bil $
do
do
do
do

1,253.4 1 382 7 1,536 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 1,603.0 1, 638.8
173.9
209.5
234.7
169.0
192.6 200.6
224 4
179 9 184.8
224.8 226.1
236 6
196 9 227 5
1,084.4 1,185.8 1,309.2 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 1,368.3 1,402.1
1 004 2 1 119 9 1 241 9 1,019.1 1 048 6 1, 080. 9 1,103. 8 1,128.5 1,166. 3 1 201 0 1,223.9 1,250.5 1,292.2 1 316 5
56.3
76.1
80.2
72.4
73.3
76.7
64.8
75.5
70.3
68.5
51.4
67.3
65 9
85 7

NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted Quarterly or annual totals:
All industries
.
Manufacturing
Durable goods industries^.
Nondurable gcods industries!.

.

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

112.78
47.95
21.84
26.11

120 49
52.48
23.68
28.81

135.80
60.16
27.77
32.39

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 35
13 67
6.36
7.31

17.04

16.93
1.04

19.14
1.05

16. 68
1.02

18.88
1.16

19.21
1.17

20.87
1.15

.64
.26

.70
.35

.59
.33

.67
.43

18.68
1 07

.78
.39

do
do
do
do
do

Nonmanufacturing
Mining
Railroad..
Air transportation
Other transportation..
Public utilities
Electric...
_
Gas and other
Communication
Commercial and other

bil. $
do
do
do

64.82
3.79
2.55
1.84
3.18

68.01
4 00
2.52
1 30
3.63

75.64
4.50
2.80
1 62
2.51

16.12

17.44

14.91

.94
.62
.50

.97
.62
.43

.92
.49
.26

do
do
do
do
do

20.14
17 00
3.14
12 74
20.60

22.28
18 80
3 47
13 30
20.99

25.80
21 59
4 41
15 45
22.97

5.07
4.16

.76
.46

.93

.72

1.02

.95

.94

.61

.76

.50

.63

5.70
4.85

4.79
4.18

5.50
4.74

5.52
4.54

5.55
4.78

3.33
5.19

6.46
5.34
1.12
3.84
5.78

3.30
5.27

6.37
5.34
1.03
3 86
5.64

6.61
5.41
1.20
4 03
5.73

.85

.91

.85

.62

.76

.98

.77

.71
52

37. 43
16.37
7.54
8.83

1

38.28
17.31
7.90
9.41

21.06
1.25

20.97
1.21

.89
.67

.82
.50

.51

.68

.59

7.28
6.06
1.21
4.26
6.33

6.15
5 27

7.09
5.97
1.12

7.32
6.14
1.18

?8

3 14
5.00

3 26
5.52

2.92
4.82

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
54.44
25.50
28.93

130.16
56.43
26.30
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

144.25
61.41
28.72
32.86

148.88
65.67
30.42
35.25

153.83
69.44
31.99
37.45

do
do
do
do . .
do

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

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

82.68
A 45
3 35
2.67
2.44

83.21
4.95
3 28
2.30
2.55

84.39
4.84
3.27
2.02
2.36

do
do
do
do
do

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

29.26
27 92 28.27
23 15 23 70 25 04
4.22
4 78
4 58
17 07
'Ml. 86 2 42. 63
24.76

do
do
do
do

* Revved.
•
v Preliminary.
i Estimates (corrected for systematic biases) for Apr.Jime 19/8 and Jul.-Sept. 1978 based on expected capital expenditures of business. Expected
2
expenditures for the year 1978 appear on p. 32 of the June 1978 SURVEY.
Includes communication.
fSee corresponding note on p . S-l.
9Includes data for items not shown
separately.
©Personal outlays comprise personal consumption expenditures, interest paid




.99
.68
.42

1

3 21
5.21

3 97
5.76 '210. 48

2

10. 54

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