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SUEVEY OF CURRENT BUSINESS

March 1971

NATIONAL INCOME AND PRODUCT TABLES
1970

1969
1969

1970

III

II

IV

1969
III

IV

1969

1970

III

Seasonally adjusted at annual rates

1970
IV

III

IV

Seasonally adjusted at annual rates

Billions of current dollars

Billions of 1958 dollars

Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
Gross national product

931 4

976.5

942.6

951.7

959.5

971.1

985.5

989.9

727 1

724.1

730 9

729 2

723 8

724.9

727.4

720.3

Personal consumption expenditures

577.5

616.7

582.1

592.6

603.1

614.4

622.1

627.0

467.7

477.1

468.7

471.7

474.0

478.1

479.6

476.6

90.0
245.8
241 6

89.4
264.7
262 6

89.5
248.1
244.5

90.8
252.0
249 8

89.1
258.8
255 2

91.9
262.6
259.9

91.2
265.8
265.1

85.3
271.5
270 2

84.9
201.2
181 6

82.0
207.9
187.2

84.1
201.9
182 7

84.9
202.4
184 4

82.7
205.6
185 8

84.9
206.6
186.6

83.6
208.2
187.8

76 9
211.1
188.6

139.8

135.7

143.8

140.2

133.2

134.3

138.3

137.1

111.3

102.8

114.1

110.0

102.9

103.1

104.1

101.3

131.6

131.2

132.7

103.9

101.5

100.1

99.6

98.1

101.3
34.7
66.6

80.8
24.0
56.9

79.2
23.1
56.1

81.9
24.6
57.3

82.1
24.3
57.8

80.9
24.4
56.5

80.2
23.5
56.7

79.6
22.6
56.9

76.3
21.8
54.5

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

. .

131.4

132.3

132.4

133.0

133.5

104.1

99.8

104.2

Nonresidential. .
Structures
Producers' durable equipment

99 3
33.8
65.5

102 6
35.2
67.4

101 5
35.2
66.3

102 6
35.1
67.5

102 6
35.7
66.9

102.8
35.3
67.5

103.6
35.0
68.6

Residential structures. _
Nonfarm
Farm

32.0
31 5
6

29.7
29 1
6

31.0
30 4
6

30.4
29 8
6

29.1
28 4
.6

28.4
27.8
.6

29.2
28.6
.6

32.2
31.6
.6

oo o

22 8
.4

20.6
20.2
.4

22.3
21 8
.4

21.8
21 4
.4

20.7
20.2
.4

20.0
19.5
.4

20.0
19.6
.4

21.9
21.5
.4

8.5
80
.4

3.5
2 9
.6

11.3
10 8
.5

7.2
65
.7

1.6
9
.7

3.1
2.6
.5

5.5
5.0
.5

3.6
3.0
.6

7.2
6.8
.4

3.0
2.5
.5

9.9
9.3
.6

6.1
5.4
.8

1.3
.8
.6

2.9
2.5
.4

4.6
4.1
.4

3.1
2.6
.5

C hange in business inventories
Nonfarm
Farm

1.9

Net exports of goods and services
Exports ...
Imports

. . .

.

3.6

2.6

26

3.5

4.1

4.2

2.6

.2

2.4

.8

.9

1.9

2.4

3.1

2.0

55.5
53.6

62.2
58.6

58.3
55.6

58.8
56.2

61.1
57.6

62.8
58.7

62.8
58.6

62.0
59.3

48.5
48.2

52.1
49.7

50.8
50.0

50.0
49.1

52.0
50.1

52.9
50.5

52.0
48.9

51.4
49.3

Federal
National defense
Other
State and local

212.2

220.5

214.1

216.3

219.6

218.4

221.0

223.2

101.3
78 8
22 6
110 8

Government purchases of goods and services.

99.7
76 6
23 1
120.9

102 5
79 8
22 7
111 6

102.1
78 8
23 3
114 2

102.3
79 3
23 0
117 4

99.7
76.8
22.9
118.7

98.6
75.8
22.9
122.4

98.2
74.6
23.5
125.0

147.8

141.8

147.3

146.6

145.0

141.3

140.6

140.3

75.7

67.7

75.2

73.8

71.1

67.8

66.2

65.5

72.1

74.1

72.1

72.9

73.8

73.5

74.4

74.8

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3,1.5)
931.4
922.9
8.5

976.5
973.1
3.5

942.6
931.2
11.3

951 7
944.5
7.2

959.5
957.9
1.6

971.1
968.1
3.1

985.5
980.0
5.5

989.9
986.3
3.6

727.1
719.9
7.2

724.1
721.1
3.0

730.9
720.9
9.9

729.2
723.0
6.1

723.8
722.4
1.3

724.9
721.9
2.9

727.4
722.8
4.6

720.3
717.1
3.1

Goods output. .
Final sales.
Change in business inventories

460.0
451 6
85

474.4
470 9
3.5

466.2
454 9
11 3

468.9
461 7
7.2

467.1
465 5
16

474.9
471.8
3.1

479.8
474.2
5.5

475.6
472.0
3.6

392.2
385.0
7.2

388.7
385.7
3.0

395.7
385.8
9.9

393.5
387.4
6.1

387.3
386.0
1.3

391.1
388.2
2.9

392.1
387.5
4.6

384.5
381.3
3.1

Durable goods
Final sales
Change in business inventories

190 2
183.9
6.4

185 1
185.3
-.2

192 7
184 8
7.9

192 7
187.4
5.3

185 3
185.5
-.3

186.6
188.5
—1.9

193.5
188.3
5.2

175.1
178.8
-3.7

170.1
164.7
5.3

160. 3
160.5
-.2

171.6
164.9
6.7

170.3
165.9
4.4

162.3
162.6
-.3

162.9
164.4
-1.5

167.1
162.7
4.3

148.9
152.1
-3.2

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

269.8
267 7
2.1

289.2
285.6
36

273.5
270 1
3.5

276.2
274 3
1.9

281.8
280 0
1.9

288.3
283.3
5.0

286.3
286.0
.3

300.5
293.3
7.2

222.1
220.3
1.8

228.5
225.3
3.2

224.1
220.9
3.2

223.3
221.5
1.8

225. 1 ' 228.3
223.4 223.8
4.5
1.6

225.0
224.7
.2

235.6
229.2
6.4

377.6
93.8

409.6
92.6

383.0
93.3

390.3
92.5

400.1
92.3

405.8
90.4

413.2
92.6

419.4
94.9

268.2
66.6

273.9
61.4

269.8
65.4

271.3
64.4

273.1
63.4

272.8
60.9

274.8
60.5

275.0
60.8

Gross national product
Final sales...
Change in business inventories.

Services
Structures

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product
Private
Business
Nonfarm .
Farm
Households and institutions
Rest of the world
General government. _.

931.4

976.5

942.6

951.7

959.5

971.1

985.5

989.9

727.1

724.1

730.9

729.2

723.8

724.9

727.4

720.3

827.8

863.2

836.6

844.0

848.5

858.4

871.7

874.3

666.4

663.4

669.8

668.1

663.1

664.2

666.8

659.4
638.1
614.0
24.1

795.4
767 9
27 5

828.3
800.2
28 1

804.2
776 6
27 6

810.8
783 0
27 8

814.3
785 5
28 8

824.5
796.0
28 5

28.1
4.3

30.3
4.6

28.3
4.1

29 0
4.2

29.6
4.5

112.8

646.0
622.5
23.6

642.5
619.4
23.2

649.7
626.2
23.5

647.6
624.7
22.8

642.1
619.5
22.6

644.0
621.0
23.0

30.5
4.7

31.1
5.2

16.4
4.0

16.6
4.3

16.3
3.8

16.6
4.0

16.7
4.3

16.5
3.6

16.5
4.4

16.5
4.9

113.9

115.5

60.7

60.7

61.0

61.1

60.7

60.7

60.6

60.8

30.0
3.9

111.0

836.5 838.0
808.5 810.8
28 0 27.2

645.9
622.9
22.9

103.6

113.3

106.0

107.7

HISTORICAL STATISTICS
National income and product statistics for earlier periods are available as follows:
Data for 1966-69, July 1970 SURVEY OF CURRENT BUSINESS; 1964-65, July 1968 SURVEY;
1929-63, The National Income and Product Accounts of the United States (available from
U.S. Department of Commerce Field Offices or from the Superintendent of Documents,
U.S. Government Printing Office, Washington, D.C. 20402, price $1.00 per copy).
417-722 O - 71 - 2




CURRENT BUSINESS STATISTICS

J.HE STATISTICS here update series published in the 1969 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $3.00) provides a description of each series, references to sources of earlier figures, and historical data
as follows: For all series, monthly or quarterly, 1965 through 1968 (1958-68 for major quarterly series), annually, 1939-68; for selected series,
monthly or quarterly, 1947-68 (where available). Series added or significantly revised after the 1969 BUSINESS STATISTICS went to press are indicated
by an asterisk (*) and a dagger (f), respectively; certain revisions for 1968 issued too late for inclusion in the 1969 volume appear in the monthly
SURVEY beginning with the September 1969 issue. Also, 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 1969 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 189-90.
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.
1968

Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS

1969

1967

1970

IV

Annual total

1968
I

II

1970

1969

III

IV

I

II

III

IV

I

II

III

IV

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
bil.$

865.0

931.4

976.5

815.9

834.9

858.1

875.8

891.4

907.6

923.7

942.6

951.7

959.5

971.1

985.5

989.9

Personal consumption expenditures, total

do

535.8

577.5

616.7

502.5

519.7

529 1

543 8

550.8

561.8

573 3

582 1

592.6

603.1

614.4

622.1

627.0

Durable goods total 9
Automobiles and parts _.
Furniture and household equipment

do
. do
do

84.0
37.2
34.6

90 0
40.3
36.7

89 4
37.4
38.4

75 3
31.1
32.5

79 9
34.9
33.7

82 6
36.0
34.1

86 7
39.1
35.4

86 9
38.8
35.2

89 1
39.8
35.8

90 6
40.0
37.2

89 5
40.2
36.7

90 8
41. 1
36.9

89.1
37.7
38.3

91. 9
39.4
38.9

91.2
39.2
38.1

85.3
33.2
38.2

230 2
46.1
115.1
19 0

245 8
49.9
121.7
21. 1

264 7
52 3
131.6
22 9

217 1
42 5
109.5
18 1

225 6
44 8
112.7
18 8

227 6
45 2
114.7
18 6

232 6
47 1
116.1
19 2

234 8
47 2
117.0
19 3

239 2
47 9
119.1
20 3

244 0
50 0
120.8
20 8

248 1
50 7
122.4
21 5

252 0
50 9
124.6
21 7

258 8
51.3
128.8
22.4

262. 6
51.8
131.2
22.7

265.8
52.3
132.3
23.0

271.5
53.8
134.1
23.5

do_
do
-do
do

221.6
31.2
77.4
15 6

241.6
33.9
84.0
16 7

262.6
36.3
91 9
18 1

210.1
30.1
73.7
14 6

214.2
30.4
75.2
15 2

218.9
30.8
76 6
15 3

224.5
31.5
77.9
15 6

229.0
32.1
79.8
16 1

233.5
32.7
81.4
16 2

238.7
33.3
83 0
16 5

244.5
34.5
84 7
16 8

249.8
34.8
87.0
17 1

255.2
35.2
89.0
17 7

259.9
35.9
90.8
17.9

265.1
36.9
92.6
18.2

270.2
37.3
95.1
18. 5

do

126.5

139.8

135.7

123.0

119.8

127.3

126.5

132.6

136.0

139.3

143.8

140.2

133.2

134.3

138.3

137.1

118.9
88.7
29.6
59.1
30.3
29.7

131.4
99.3
33.8
65.5
32.0
31.5

133.0
102.6
35.1
67.5
30.4
29.8

131.6
102.6
35.7
66.9
29.1
28.4

131.2
102.8
35.3
67.5
28.4
27.8

132.7
103.6
35.0
68.6
29.2
28.6

133.5
101.3
34.7
66.6
32.2
31.6

Gross national product, total f

Nondurable goods total 9
Clothing and shoes
Food and beverages
Gasoline and oil
Services, total 9
.__
Household operation
Housing
Transportation

_

-

do
do
do, _
do

.

- -

Gross private domestic investment, total

Fixed investment
- - -do.
Nonresident ial
do. __
Structures
._
do
Producers' durable equipment
- _ .do.
Residential structures
- ___do
Nonfarm
do
Change in business inventories..
do. __
Nonfarm
do
Net exports of goods and services
Exports
Imports

7.6
7.5

8.5
8.0

132.3
102.6
35.2
67.4
29.7
29 1
3.5

2 9

do
do
do.

50.6
48.1

55.5
53.6

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

200.2
99.5
78.0
100.7

212.2
101.3
78.8
110.8

220.
99
76
120

By major type of product: f
Final sales, total
Goods, total
Durable goods
Nondurable goods
Services
Structures
_ _

do
do
do
. _ . _ do.
do
do. .

857.4
422.9
170.4
252.5
347. 1
87.4

do
do. _
_ _ do

7.6
5.7
2.0

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

2.5

1.9

3.6

113.0
84.1
28.0
56.2
28.8
28 3
10.0
8.5
4.0

117.2
88.3
29.8
58.5
28.8
28.3
2.6
2.5
1.8

117.0
86.4
28.9
57.5
30.6
30.1
10.4
10.3
3.4

118.3
88.3
29.4
59.0
29.9
29.4

123.3
91.6
30.3
61.3
31.7
31.1

128.7
95.7
32.6
63.1
33.0
32.4

8.2

9.3
9.3

7.4
7.3

8. 1
3.4

1.4

1.3

131.4
97.5
32.3
65.2
33.9
33.3
7.9

7 6
1.3

132.4
101.5
35.2
66.3
31.0
30.4
11.3
10.8
2.6

7.2
6.5
2.6

1.6
.9
3.5

3.1
2.6
4.1

5.5
5.0

4.2

3.6
3.0
2.6

46.8
42.8

47.7
45.9

50.7
47.3

53.2
49.8

50.9
49.5

47.8
46.5

57.2
55.9

58.3
55.6

58.8
56.2

61.1
57.6

62.8
58.7

62.8
58.6

62.0
59.3

5
7
6
9

186.5
93.6
74.7
92.9

193.6
96.4
76.3
97.2

198.3
98.9
77.8
99.4

202.1
100 7
78.6
101 4

206.7
101.9
79.2
104. 7

208.5
100.9
78.6
107.5

209.9
99 8
77.9
110 1

214.1
102.5
79.8
111.6

216.3
102.1
78.8
114.2

219.6
102.3
79.3
117.4

218.4
99.7
76.8
118.7

221.0
98.6
75.8
122.4

223.2
98.2
74.6
125.0

922.9
451.6
183.9
267.7
377.6
93.8

973 1
470 9
185 3
285 6
409 6
92 6

805.9
395.0
158.5
236.5
328.4
82.5

832.3
411.6
165. 2
246.4
334.7
86.0

847.8
417.8
168 0
249.8
343. 1
86.8

867.6
429.0
173 1
255.9
352.2
86.3

882.1
433.3
175 3
258.0
358.4
90.5

900.2
440.9
180.5
260.4
364.8
94.5

915.9
448.8
182.7
266.1
372.3
94.8

931.2
454.9
184.8
270.1
383.0
93.3

944.5
461. 7
187.4
274.3
390.3
92.5

957.9
465.5
185.5
280.0
400.1
92.3

968.1
471.8
188.5
283.3
405.8
90.4

980.0
474.2
188.3
286.0
413.2
92.6

986.3
472.0
178.8
293.3
419.4
94.9

8.5
6.4
2.1

35
— 2
36

10.0

2.6
2.5

10.4

8.2
5.8
2.4

9.3
7.2
2.1

7.4
5.6
1.8

7.9
6.7
1.2

11.3

7.2
5.3
1.9

1.6
-.3
1.9

3.1

5.5
5.2
.3

62 2
58.6

6.1
3.9

.1

7.1
3.2

7.9
3.5

-1.9

5.0

3.6

-3.7

7.2

GNP in constant (1958) dollars
bil. $

Gross national product total t
Personal consumption expenditures, total
Durable goods
Nondurable goods
Services
_

_

Gross private domestic investment, total
Fixed investment
NonresidentiaL.
__
_. _
Residential structures
Change in business inventories
Net exports of goods and services

707.2

727 1

724 1

683 6

693 5

705 4

712 6

717 5

722. 1

726. 1

730.9

729.2

723.8

724.9

727.4

720.3

do

452. 3

467.7

477.1

434.3

445.0

448.4

457.7

458.1

463.3

467.1

468.7

471.7

474.0

478.1

479.6

476.6

do. _
do
do.

81.4
196.5
174.4

84.9
201.2
181.6

82 0
207 9
187 2

74.0
190.3
169.9

78.1
195.5
171.3

80.2
194.9
173.2

83.9
197.9
175.9

83.2
197.6
177.4

84.9
199.7
178.7

85.7
200.9
180.5

84.1
201.9
182.7

84.9
202.4
184.4

82.7
205.6
185.8

84.9
206.6
186.6

83.6
208.2
187.8

76.9
211.1
188.6

do

105.7

111.3

102.8

105.1

101.3

107.1

105.1

109.5

109.7

111.5

114.1

110.0

102.9

103.1

104.1

101.3

103.9
82.1
21.8
6.1

101.5
80.9
20.7
1.3

100.1
80.2
20.0
2.9

99.6
79.6
20.0
4.6

98.1
76.3
21.9
3.1

.9

1.9

2.4

3.1

2.0

do
do
do_
do
do, _

98 8
75.5
23.3
6.9

104 1
80.8
23.3
7.2

99 8
79 2
20 6
3.0

95.9
72.9
23.0
9.2

98.9
76.1
22.9
2.4

.9

.2

2 4

2.1

.8

Govt. purchases of goods and services, total. _do
148.3
142.2
146.4
147.8
141.8
Federal
_
. d o
75.5
78. 7
75 7
77 5
67 7
State and local
do_
69.6
72.1
66.7
68.9
74. 1
T
Revised.
p Preliminary.
t Revised series. Estimates of national income and product
and personal income have been revised back to 1967 (see p. 17 ff. of the July 1970 SURVEY);

97.6
73.8
23.8
9.5

97.7
74.9
22.8
7.4

101.0
77.1
23.9
8.5

103.6
79.3
24.3
6.1

104.8
80.2
24.7
6.6

104.2
81.9
22.3
9.9

1.5

1.5

-.2

-.4

-.3

.8

140.6
145.0
140.3
146.6
141.3
147.3
147.9
148.3
150.0
149.5
148.5
66.2
65.5
75.2
73.8
71.1
79.4
67.8
78.0
75.8
78.9
79. 1
74.4
73.8
72.9
74.8
72.1
73.5
72.1
69.4
69.4
70.6
71.5
revisions prior to May 1969 for personal income appear on p. 26 fl. of the July 1970 SURVEY.
9 Includes data not shown separately.

s-1
417-722 O - 71 - SI




March 1971

SUKVEY OF CURRENT BUSINESS

S-2
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS

196S

1970

1969

Annual total

II

III

IV

I

II

1971

1970

1969

1968

III

IV

II

I

III

IV

I

II

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income total t
bil $

do
do
do
do
do
do

Farm
Rental income of persons

do
do

Corporate profits and inventory valuation adjustment total
bil $
By broad industry groups:
Financial institutions
do
Nonfinancial corporations, total
do
Manufacturing total
do
Nondurable goods industries
do

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

706.1

722.2

735.2

749.3

764.0

779.5

785.2

791.5

797.4

806.6 P 806. 0

564.2

599.8

507.6

520.9

532.5

544.9

557.5

572.2

582.1

592.2

596.4

603.8

606.7

464.8
369.1
17.9
77.8
49.3
64.1
49.1
15.0
21.3

509.0
404.9
19.0
85.1
55.1
66.8
50.5
16.4
22.0

540.1
426.1
19.3
94.6
59.7
67.6
51.4
16.2
22.7

458. 9
361.7
17.6
76.6
48.7
63.8
49.2
14.6
21.3

471.0
373.4
18.6
79.0
49.9
64.4
49.2
15.3
21.3

481.4
382.5
18.2
80.7
51.1
65.2
49.4
15.8
21.3

491.6
391.5
18.1
81.9
53.3
66.0
49.9
16.2
21.6

502.9
401.2
18.4
83.4
54.6
66.7
50.5
16.2
22.0

516.4
409.9
19.9
86.6
.',5. 8
67.5
50.9
16.6
22.1

525.3
417.2
19.6
88.5
56.8
67.2
50.6
16.6
22.3

534.4
422.6
•20. 1
"91.7
57.9
67.6
50.6
17.0
22.5

537.4
424.0
19.5
93.9
59.0
67.8
51.2
16.5
22.6

543.4
428.9
19.1
95.4
60.4
67.8
51.7
16.1
22.7

545.2
429.1
18.6
97.5
61.4
67.4
52.0
15.3
23.0

85.4

85.8

p 76.8

86.0

87.4

87.1

87.1

87.4

86.8

82.0

76.7

77.5

78.4

p 74.5

11.5
75.9
42.9
19.4
23.6

11.2
75.9
43.7
19.2
24.4

11.5
75.5
43.4
19.4
24.0

11.9
75.4
42.9
19.9
23.0

12.2
74.6
41.8
19.1
22.7

12.2
69.8
39.1
19.0
20.0

12.0
64.7
35.2
18.3
16.9

12.3
65.2
35.5
18.2
17.2

12.9
65.5
34.7
18.3
16.3

p 12.7
p 61.8

11.0
74.4
42.4
19.1
23.3

12.0
73.8
41.8
19.3
22.4

* 12.5
v 64.3
p 33.8
v 18.3
p 15.5

11.0
21.0

10.7
21.4

p 9. 1
p 21 A

11.0
21.3

11.2
21.8

10.7
21.5

11.0
21.2

10.8
21.8

10.6
22 2

10.3
20.4

9.1
20.4

8.6
21.1

9.1
21.7

88.7
40.6
48.2
23.3
24.9
-3.3
27.8

91.2
42.7
48.5
24.7
23.9
-5.4
30.7

p 81.6
p 37.6
p 44.0
25.2
p 18.8
-4.8
33.5

88.6
40.4
48.3
23.1
25.2
-2.6
27.3

88.4
40.4
48.0
23.8
24.2
-.9
28.2

91.3
41.7
49.6
24.1
25.5
-4.2
29.1

93.0
43.5
49.5
24.1
25.5
-5.9
29.7

93.4
43.8
49.7
24.4
25.2
-6.0
30.4

89.9
42.1
47.9
25.0
22 9
-3*. 2
31.0

88.5
41.4
47.1
25.2
21.9
-6.5
31.7

82.6
38.0
44.6
25.2
19.4
-5.8
32.4

82.0
38.1
43.9
25.1
18.8
-4.5
33.1

84.4
38.9
45.4
25.4
20.0
-5.9
33.8

P 77.5
P 35.4
p 42.1
25.1
p 16.9
-3.0
34.5

688.7
97.5
591.2
550.8
40.4

748.9
117.3
631.6
593.9
37.6

801.0
116.3
684.8
634.6
50.2

680.9
92.6
588.4
543.8
44.6

697.6
102.1
595.6
559.1
36.5

712.5
106.5
606.0
566.4
39.6

725.8
113.8
612.0
577.7
34.3

741.1
118.1
623.0
589.7
33.3

758.1
117.5
640.6
598.7
42.0

770.5
119.9
650.6
609.6
41.1

782.3
117.0
665.3
620.5
44.8

801.3
117.7
683.6
632.1
51.5

807.2
114.2
693.0
640.2
52.7

813.3
116.1
697.2
645. 5
51.8

67.76
28.37
14.12
14.25

75.56
31.68
15.96
15.72

79.71
31.95
15.80
16.15

16.85
6.99
3.36
3.63

16.79
7.13
3.54
3.59

19.03
8.10
4.16
3.94

16.04
6.58
3.36
3.22

18.81
7.82
3.98
3.84

19.25
8.16
4.03
4.12

21.46
9.12
4.59
4.53

17.47
7.14
3.59
3.56

20.33
8.15
4.08
4.07

20.26
7.99
3.87
4.12

39.40
1.63
1.45
2.56
1.59
10.20
7.66
2.54
6.83
15.14

43.88
1.86
1.86
2.51
1.68
11.61
8.94
2.67
8.30
16.05

47.76
1.89
1.78
3.03
1.23
13.14
10.65
2.49
10.10
16. 59

9.86
.43
.37
.58
.42
2.62
1.94
.68
1.62
3.81

9.66
.39
.31
.64
.41
2.61
1.87
.74
1.61
3.69

10.93
.40
.38
.66
.47
2.90
2.16
.74
2.00
4.13

9.45
.42
.38
.68
.38
2.36
1.88
.48
1.81
3.41

10.99
.48
.44
.66
.46
2.99
2.22
.77
2.00
3.97

11.10
.47
.49
.53
.40
3.03
2.23
.80
2.11
4.07

12.34
.49
.55
.64
.44
3.23
2.61
.62
2.39
4.60

10.32
.45
.42
.73
.28
2.54
2.15
.39
2.14
3.76

12.18
.47
.47
.80
.31
3.28
2.59
.69
2.59
4.26

12.27 - 12. 99 - 11. 29
.46
.44
-.50
.46
'.43
- . 38
.74
-.45
'.76
.30
-.33
-.29
3.58 -3.74 -3.27
2.79 -3.12 -2.86
.78
-.41
-.63
2.56
2.81
4.16 -4.42 - 2 6. 47

do
do
do
do

66.29
27.84
13.51
14.33

67.77
28.86
14.47
14.40

69.05
28.70
14.39
14.31

72.52
29.99
15.47
14.52

73.94
31.16
15.98
15.18

77.84
33.05
16.53
16.52

77.84
32.39
15.88
16.50

78.22
32.44
16.40
16.05

80.22
32.43
16.32
16.11

81.88 - 78. 63
32.15 - 30. 98
15.74 - 14. 92
16.40 - 16. 05

do
do
do
do
do
do
do
do
do
do

38.45
1.66
1.49
1.98
1.49
10.24
7.64
2.60
6.42
15.17

38.91
1.57
1.29
2.69
1.65
9.82
7.50
2.32
6.67
15.22

40.35
1.52
1.34
2.87
1.75
10.63
7.74
2.89
7.34
14.91

42.53
1.83
1.68
2.89
1.87
11.52
8.62
2.90
7.74
15.00

42.78
1.88
1.76
2.22
1.66
11.68
8.71
2.97
7.92
15.67

44.80
1.89
2.06
2.23
1.65
11.48
8.98
2.50
8.71
16.78

45.46
1.85
1.94
2.80
1.63
11.80
9.36
2.44
8.76
16.67

45.78
1.92
1.74
2.94
1.37
12.14
9.77
2.37
9.14
16.52

47.79
1.84
1.88
2.88
1.12
12.72
10.15
2.57
10.38
16.98

49.73
1.86
1.96
3.24
1.22
13.84
11.34
2.50
10.62
17.00

12, 685
8,386
344
1,990
1,965

13, 295
8,878
393
2,000
2,024

Corporate profits before tax total
do
Corporate profits tax liability
do
Corporate profits after tax
do
Dividends
do
Undistributed profits
do
Inventory valuation adjustment
do
Net interest
do
DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
bil $
Less* Personal tax and nontax payments
do
Equals: Disposable personal income
do
Less* Personal outlays©
do
Equals* Personal savings
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals :t
All industries
bil. $
Manufacturing. .
do
Durable goods industries 1
do
Nondurable goods industries ^ ...
do

Seas. adj. qtrly. totals at annual rates:J
All industries
Manufacturing
Durable goods industries f
Nondurable goods industries f

p 800. 4

10.8
75.2
42.8
18.9
23.9

Transportation, communication, and public
utilities
bil $
All other industries
do

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

769.5

514.1
\Vages and salaries total
Private
Military
Government civilian
Supplements to wages and salaries..
Proprietors' income total 9

712.7

do
do
do
do
do
do
do
do
do
do

BALANCE OF INTERNATIONAL
PAYMENTSd"
Quarterly Data Are Seasonally Adjusted
(Credits -f; debits — )
Exports of goods and services (excl. transfers under
military grants)
mil $
Merchandise, adjusted, excl. military
do
Transfers under military sales contracts
do
Income on U.S. investments abroad
do
Other services
do

- 21. 66 -i 17. 96 i 20. 89
7.89
'8.66 -6.67
3.86
-4.26 -3.21
4.03
-4.40 -3.46

13.00
.50
.53
.71
.36
3.89
3.29
.61
2 7.01

- 80. 55 i 82. 54
31.44
- 30. 28
15.45
- 14. 67
15.98
- 15. 62

- 47. 66 - 50. 27
-1.94 -1.85
-1.62
- 1.56
-3.08 -1.80
-1.22 - 1.42
- 13. 68 - 15. 51
- 11. 20 - 13. 03
-2.48 -2.48
10.20
- 15. 97 '•2 28. 08

51.10
1.96
2.11
2.54
1.33
15.12
12.86
2.26
2 28. 04

U.S.

50, 626
33, 588
1,396
7,690
7,952

55, 516
36, 473
1,514
8,839
8,690

62, 962
42, 041
1,479
9,617
9,825

Imports of goods and services
do
-48,127 -53,566 -59, 293 -11,832 -12, 444
Merchandise, adjusted, excl. military
do
-32,964 -35,835 -39, 856 -8, 132 -8, 569
Military expenditures
do
-4, 535 -4,850 -4, 838 -1, 112 -1,147
Income on foreign investments in the U.S. do.
-732
-761
-2, 932 -4, 463 -5,110
Other services
do
-7,696 -8, 418 -9, 489 -1, 856 -1,967
Unilateral transfers, net (excl. military grants);
transfers to foreigners (— )
mil. $__ -2, 829 -2,835 -3, 036
-757
-675
r
l
Revised.
p Preliminary.
Estimates (corrected for systematic biases) for Jan.Mar. and Apr.-June 1971 based on expected capital expenditures of business. Expected expenditures for the year 1971 appear on p. 20 of the Mar. 1971 SURVEY.
2 includes communication.
fSee corresponding note on p. S-l.
9Includes inventory valuation ad]ustment.
}Revised series; explanation of revisions and annual and quarterly data back
to 1947 appear on pp. 25 ff. of the Jan. 1970 SURVEY; sec also pp. 19 ff. of the Feb. 1970
SURVEY.
0Personal outlays comprise personal consumption expenditures, interest




12,714 -11,961 -14,196 - 14, 592 r 14, 767 - 15, 364 - 15, 798 - 15, 936 Pl5, 831
8,378 - 7, 485 - 9, 490 - 9, 608 * 9, 890 - 10, 252 - 10, 586 - 10, 700 plO, 503
-430
-339
352
p 454
- 256
357
391
313
458
2,314
2,499 - 2, 307 - 2, 394 P 2,417
1,935
2,089
2,150
2,286
2,475 - 2, 536 p 2, 457
2,211
2,357
1,996
2,044
2,240
2,243

-12, 374
-8, 443
-1,173
-762
-1,996

'-11,630
- -7,588
-1,198
-905
-1,939

••-13,934
- -9,562
-1,187
-1,071
-2,114

--13,927
- -9,281
-1,220
-1,240
-2,186

--14,075
- -9,404
-1,245
-1,247
-2,179

--14,518
r -9,729
--1,178
- -1,343
- -2,268

--14,759 -14,969 p-15,04
- -9,829 -9,987 p-10,31
-1,255 -1,210 p-1,195
--1,320 -1,287 p-1, 16
- -2,355 -2,485 p-2,38

- -800 p-776
-721
-739
-812
-690
-721
-768
-612
.
paid by consumers, and personal transfer payments to foreigners.
§Personal saving is
excess of disposable income over personal outlays.
.
If Data for individual durable and nondurable goods industries components appear in the
Mar., June, Sept., and Dec. issues of the SURVEY.
c^More complete details are given in
the quarterly reviews in the Mar., June, Sept., and Dec. issues of the SURVEY.
"Includes the retroactive pay increase for Federal personnel.

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