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SURVEY OF CURRENT BUSINESS

October 1978

11

NATIONAL INCOME AND PRODUCT TABLES
1977
1976

1977

II

1977

1978
III

IV

I

II

III v

1976

1977

II

III

Seasonally adjusted at annual rates

1978
I

IV

II

III v

Seasonally adjusted at annual rates
Billions of 1972 dollars

Billions of current dollars

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

1,700.1

Personal consumption expenditures..
Durable goods
Nondurable goods

887.2 1,867.0

,090.2 1,206.5 1,188.6

916.8 1,958.1 1,992.0

156.6
442.6
491.0

Gross private domestic investment-..

178.4
479.0
549.2

175.6
473.6
539.4

177.4
479.7
557.5

187.2
496.9
571.1

243.0

Services

087.5 2,141.1

297.8

295.6

309.7

313.5

322.7

1,394.3
,271.0 1,332.7 1,325.5 1,343.9 1,354.5 1,354.2 1,382.6 1
857.7

849.5

858.0

876.6

873.5

886.3

893.7

199.3
529.4
625.8

125.9
320.2
373.2

137.8
330.4
389.5

136.2
327.2
386.0

136.9
329.2
391.8

143.0
338.1
395.6

137.8
333.3
402.4

145.8
336.3
404.2

144.6
339.2
409.8

345.4

351.7

173.4

196.3

197.1

201.7

200.3

205.7

213.1

210.8

,214.5 1,255.2 1,276.7 1,322.9 1,354.5
183.5
501.4
591.8

197.8
519.3
605.8

819.4

232.8

282.3

278.6

287.8

300.5

306.0

325.3

334.1

166.8

187.4

187.1

189.5

192.8

193.4

200.4

200.1

Fixed investment
Nonresidential___
Structures.
_,
Producers' durable equipment..

164.6
57.3
107.3

190.4
63.9
126.5

187.2
63.4
123.8

193.5
65.4
128.1

200.3
67.4
132.8

205.6
68.5
137.1

220.1
76.6
143.5

225.4
79.5
145.9

118.9
38.3

129.8
40.0
89.8

129.1
40.0
89.0

130.8
40.8
90.0

132.5
41.0
91.5

133.8
41.0
92.9

140.5
44.6
95.9

140.4
45.0
95.4

Residential
Nonfarm structures
Farm structures
Producers' durable equipment..

68.2
65.8
1.1
1.3

91.9
88.9
1.5
1.5

91.4
88.4
1.6
1.4

94.3

91.2
1.6
1.5

100.2
97.5
1.2
1.6

100.3
97.3
1.3
1.7

105.3
102.1
1.4
1.8

108.8
105.5
1.5
1.7

47.8
46.0
.7
1.1

57.7
55.6
.9
1.2

58.0
55.9
1.0
1.1

58.8
56.6
1.0
1.2

58.4
.7
1.2

59.5
57.4
.8
1.3

59.
57.8
.8
1.4

59.7
57.6
.8
1.3

10.2
12.2
-2.0

15.6
15.0
.6

17.0
16.5
.5

21.9
22.0
-.1

13.1
10.4
2.7

16.7
16.9
-.2

20.1
22.1
-2.0

17.6
18.6
-1.0

6.7
8.5
-1.9

8.9
9.4
-.5-

10.0
10.2
-.2

12.2
13.5
-1.4

7.5
6.5

12.3
12.5
-.1

12.7
13.9
-1.2

10.7
11.3
-.6

7.4

-11.1

-5.9

-7.0

-23.2

-24.1

-5.5

-6.5

15.4

9.5

11.0

12.5

3.1

2.9

11.3

12.0

210.9
217.3

95.9
80.5

98.2
88.7

98.9
87.9

100.8

96.0
92.9

99.1
96.2

108.4
97.1

109.5
97.5

274.5

272.1

271.9

277.8

103.6

101.2

97.1

101.9

170.9

170.8

174.8

175.9

Change in business inventories.
Nonfarm
Farm
Net exports of goods and services-

Federal
_.
National defense..
Nondefense
State and local

175.5
186.6

359.5

145.1
94.3
50.8
248.9

178.1
184.0

142.9
93.7
49.3
245.9

180.8
187.8

172.1
195.2

181.7
205.8

205.4
210.9

399.5

394.0

129.9
86.8
43.1
229.6

Exports
Imports.
Government purchases of goods and services..

163.2
155.7

412.5

416.7

424.7

441.3

262.8

269.2

267.9

146.8
94.4
52.4
252.7

152.2
97.1
55.1
260.3

151.5
97.9
53.6
265.2

147.2
98.6
48.6
277.6

156.1
100.2
55.9
285.2

96.6

101.6

101.3

166.2

167.6

166.6

88.2
271.7
102.9
168.8

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
, 700.1 1,887.2 1,867.0 1,916.8 1,958.1 1,992.0 2,087.5 2,141.1 1,271.0 1,332.7 1,325.5 1,343.9 1,354.5 1,354.2 1,382.6 1,394.3

Gross national product.
Final sales
Change in business inventories.

760.3

Final sales
_
Change in business inventories.
Durable goods.
Final sales..
Change in business inventories.
Nondurable goods
F inal sales
Change in business inventories.

832.6

825.8

844.7

859.6

861.8

912.2

930.7

576.5

608.4

604.4

613.3

620.1

611.8

627.7

632.1

750.1
10.2

817.0
15.6

808.8
17.0

822.8
21.9

846.5
13.1

845.1
16.7

892.1
20.1

913.0
17.6

569.8
6.7

599.6
8.9

594.3
10.0

601.1
12.2

612.7
7.5

599.4
12.3

615.0
12.7

621.4
10.7

304.6
299.3
5.3

341.3
332.9
8.4

339.1
330.0
9.1

346.5
334.6
11.9

347.4
341.1
6.3

351.2
336.3
14.8

375.8
365.0
10.8

381.4
370.1
11.2

236.2
232.5
3.6

253.7
248.0
5.8

253.0
246.9
6.1

255.9
248.0
7.9

255.1
250.5
4.6

254.6
245.0
9.6

266.6
260.2
6.4

265.9
259.2
6.6

455.7
450.7
4.9

491.3
484.1
7.2

486.7
478.8
7.9

498.2
488.2
10.0

512.2
505.4
6.8

510.6
508.7
1.9

536.4
527.1
9.3

549.3
542.9
6.4

340.3
337.3
3.0

354.7
351.6
3.1

351.3
347.5
3.9

357.4
353.1
4.3

365.0
362.1
2.9

357.2
354.5
2.7

361.2
354.8
6.3

366.3
362.2
4.1

778.0
161.9

Goods.

Services
Structures.

L
,
, 689.9 1,871.6 1,850.0 1,894.9 1,945.0 1,975.3 2,067.4 2,123.4 1, 264.4 1,323.8 1,315.5 1,331.7 1,347.1 1,341.8 1,369.9 1,:383.5
10.7
12.2
12.3
10.0
7.5
10.2
8.9
12.7
17.0
20.1
6.7
13.1
17.6
15.6
21.9
16.7

862.8
191.8

850.0
191.3

875.3
196.8

893.6
204.9

926.4
203.8

952.0
223.4

977.6
232.8

583.0
111.6

602.9
121.3

598.8
122.3

606.9
123.7

609.6
124.8

620.1
122.3

625.6
129.3

631.5
130.6

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 housingHousing
Farm
Statistical discrepancy..
Residual 1
Households and institutions..
Government
Federal..State and localRest of the world.

1,700.1 1,887.2 1,867.0 1,916.8 1,958.1 1,992.0 2,087.5 2,141.1 1,271.0 1,332.7 1,325.5 1,343.9 1,354.5 1,354.2 1,382.6 1,394.3
1,685.7 1,869.9 1,849.0 1,898.7 1,942.2 1,973.8 2,066.5 2,119.9 1,264.3 1,325.3 1,317.7 1,336.3 1,347.9 1,346.6 1,373.9 1,385.7
1,436.7 1,599.3 1,582.5 1,626.4 1,660.4 1,684.1 1.771.8 1,820.4 1,077.9 1,135.9 1,129.6 1,146.1 1,155.9 1,153.5 1,180.0 1,, 191.4
1,040.1 1,094.2 1,088.9 1,102.6 1,112.4 1,115.4 1,145.2 1, 154.8
1,385.6 1,544.0 1,528.0 1,571.6 1,601.6 1,628.9 1.714.9
998.1 1,026.5'1,034.8
996.4
932.6
976.1
980.5
988.0
1,255.0 1,397.8 1,384.0 1,423. 2 1,449.0 1,471. 7 1,553.2
118.6 120.1
166.4
117.4
116.0
157.1
107.5
112.8
113.6
114.6
152.7
148.4
161.7
130.6
144.1
146.2
32.2
30.5
32.5
57.0
36.1
53.0
32.2
34.1
34.4
34.5
54.0
47.7
56.4
46.9
50.8
50.5
2.2
4.8
7.1
.5
4.2
3.7
4.7
2 4.3
9.0
5.5
4.3
6.6
5.6
7.3
7.4
56.5

62.7

61.3

63.5

65.9

68.8

70.5

71.9

40.7

42.2

192.5
62.4
130.1

208.0
66.4
141.5

205.2
65.4
139.8

208.9
65.7
143.2

215.9
69.5
146.4

221.0
69.9
151.1

224.1
70.1
154.1

227.5
70.5
157.0

145.6
48.5
97.1

147.2
48.7
98.4

14.4

17.3

18.0

18.1

15.9

18.2

21.1

21.2

6.8

7.3

41.7
146.3
48.7
97.6
7.8

42.5

43.6

43.8

44.3

44.6

147.7
48.8
99.0

148.4
48.8
99.6

149.4
48.8
100.6

149.6
48.8
100.8

149.8
49.0
100.8

7.6

6.6

7.5

8.8

8.6

Preliminary.

HISTORICAL STATISTICS
The national income and product data for 1929-72 are in The National Income and
Products Accounts of the United States, 1929-7$: Statistical Tables (available for $4.95, SN
003-010-OOG52-9, from Commerce Department District Offices or the Superintendent of




Documents; see addresses inside front cover). Data for 1973,1974, and 1975-77 are in July
1976, July 1977, and Juiy 1978 issues of the SURVEY, respectively.

CURRENT BUSINESS STATISTICS

JL 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.
O^F CURRENT BUSINESS.

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

1976

1977

1975

II

, 992.0

2,087.5

, 141.1

994.0 1,021.6 1,053.8 1,075.1 1,098.4 1,133.7 1,167.7 1,188.6 1,214.5 1,255.2 1,276.7

1,322.9

1, 354. 5

IV

II

III

IV

I

II

III

I

III

I

1978

1977

1976

IV

Annual total
Seasonally adjusted quarterly totals at annual rates

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

bil.$__ 1,528.8

Personal consumption expenditures, total ..do

979.1

1,700.1 1,887.2 1,564.0 1,598.0 1,649.7 1,685.4 1,715.6 1,749.8 1,806.8 1,867.0 1,916.8 1,958.1
1,090. 2 1,206.5

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

132.6
53.4
58.0

156. 6
69.7
63.9

178.4
81.5
71.3

136.3
55.9
58.7

143.5
60.6
60.8

152.2
67.7
61.9

154.7
69.1
63.0

156.7
69.5
64.2

162.8
72.6
66.5

173.2
81.3
68.0

175.6
81.2
69.9

177.4
79.5
72.0

187.2
84.0
75.3

183.5
84.1
72.1

197.8
92.5
76.5

199.3
90.0
78.6

408.9
70.1
209.6
39.5

442.6
75.7
225.8
42.8

479.0
81.5
245.2
46.5

415.0
71.5
212.4
40.0

421.4
72.2
216.6
40.5

430.3
73.8
219.4
41.4

437.4
74.2
223.9
41.9

444.5
76.1
227.4
43.0

458.3
78.5
232.3
45.1

465.9
78.5
237.5
46.1

473.6
79.3
244.5
46.2

479.7
81.4
246.4
46.0

496.9
86.7
252.6
47.5

501.4
82.9
257.7
48.3

519.3
87.5
267.8
49.1

529.4
90.2
272.0
50.8

Services, total 9
Houshold operation
Housing
_
Transportation

437.5
64.5
150.2
32.6

491.0
72.8
166.4
37.9

549.2
81.6
184.6
44.2

442.7
65.8
151.5
32.7

456.7
66.7
156.3
34.0

471.3
69.3
160.2
36.0

483.0
70.2
164.7
37.0

497.2
73.5
168.2
38.7

512.6
78.2
172.3
39.8

528.6
80.2
177.3
40.8

539.4
78.0
182.1
43.5

557.5
83.7
186.9
45.0

571.1
84.6
192.0
47.3

591.8
89.6
198.1
49.7

605.8
89.9
204.1
52.1

625.8
92.9
209.6
55.0

do
do
do
do

190.9

243.0

297.8

206.8

203.9

231.5

243.5

249.9

247.1

272.5

295.6

309.7

313.5

322.7

345.4

351.7

do
do
do
do

201.6
150.2
53.8
96.4

232.8
164.6
57.3
107.3

282.3
190.4
63.9
126.5

202.3
149.7
54.0
95.7

208.8
151.5
54.7
96.8

220.1
157.7
56.4
101.3

228.1
162.2
57.6
104.6

235.3
168.1
57.3
110.8

247.6
170.5
57.9
112.6

262.2
180.6
59.3
121.4

278.6
187.2
63.4
123.8

287.8
193.5
65.4
128.1

300.5
200.3
67.4
132.8

306.0
205.6
68.5
137.1

325.3
220.1
76.6
143.5

334.1
225.4
79.5
145.9

Residential.._
Change in business inventories
Nonfarm

...do
do
do

51.5
-10.7
-14.3

68.2
10.2
12.2

91.9
15.6
15.0

52.6
4.6
1.1

57.3
-4.9
-9.0

62.4
11.4
12.7

65.9
15.4
18.8

67.3
14.5
15.2

77.1
-.6
2.2

81.6
10.3
11.1

91.4
17.0
16.5

94.3
21.9
22.0

100.2
13.1
10.4

100.3
16.7
16.9

105.3
20.1
22.1

108.8
17.6
18.6

Net exports of goods and services
Exports
Imports

do
do
do

20.4
147.3
126.9

7.4
'163.2
155.7

-11.1
175.5
186.6

20.9
147.0
126.1

20.9
152.2
131.2

10.4
154.4
144.1

9.7
160.7
150.9

6.9
168.2
161.3

2.8
169.4
166.6

-8.5
170.9
179.4

-5.9
178.1
184.0

-7.0
180.8
187.8

-23.2
172.1
195.2

-24.1
181.7
205.8

-5.5
205.4
210.9

-6.5
210.9
217.3

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

338.4
123.1
83.7
215.4

359.5
129.9
86.8
229.6

394.0
145.1
94.3
248.9

342.2
123.6
84.2
218.7

351.5
127.9
<=86.2
223.6

354.0
127.1
85.9
226.9

357. 2
127.8
85.6
229.4

360.4
129.9
86.5
230.5

366.3
134.6
89.1
231.7

375.0
138.3
91.9
236.7

388.8
142.9
93.7
245.9

399.5
146.8
94.4
252. 7

412.5
152.2
97.1
260.3

416.7
151.5
97.9
265.2

424.7
147.2
98.6
277.6

441.3
156.1
100.2
285.2

do
do
do
..do
.do
do

1,539. 6
686.6
259.0
427.5
697.6
144.7

760.3
304.6
455.7
778.0
161.9

do
do
do

-10.7
-8.9
-1.8

Gross private domestic investment, total....do
Fixed investment
Nonresidential
_
Structures. __
Producers' durable equipment

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

_

C hange i n business inventories
Durable goods.
Nondurable goods

1,871. 6 1,559.4 1,602.9 1, 638.3 1, 670.1 1, 701.0 1,750.4 1, 796.5 1,850.0 1,894.9 1,945.0 1,975.3 2,067.4 , 123. 4
930.7
861.8 * 912. 2
859.6
844.7
825.8
772.9
800.2
711.4
718.6
741.9
758.0
768.1
832.6
381.4
351.2 «375. 8
347.4
339.1
346.5
315.6
269.9
288.6
301.8
312.4
332.2
273.7
341.3
*
512.2
510.6 « 536. 4 549.3
486.7
457.3
498.2
441.5
453.4
456.2
455.7
468.0
444.9
491.3
977.6
952.0
893.6
926.4
850.0
808.1
706.1
749.7
766.9
787.1
875.3
832.3
726.4
862.8
232.8
223.4
204.9
191.3
203.8
168.7
146.5
158.1
160.5
160.3
196.8
174.3
153.0
191.8
17.6
20.1
16.7
13.1
21.9
10.2
11.4
15.4
17.0
-.6
10.3
4.6
-4.9
14.5
15.6
11.2
10.8
14.8
6.3
11.9
5.3
6.5
9.1
.1
5.2
6.1
8.4
-3.5
-8.6
9.3
6.4
9.3
1.9
10.0
6.8
4,9
8.9
7.9
-5.8
4.2
8.0
3.7
11.3
5.3
7.2

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

Durable goods
Nondurable goods
Services

1,382.6

1, 394.3

857.7

779.7

791.1

806.3

814.0

820.9

836.2

846.6

849.5

858.0

876.6

873.5

886.3

893.7

125.9 I 137.8
320. 2
330.4
373.2
389.5

115.2
307.5
357.0

119.7
309.5
361.9

124.8
314.6
366.9

125.2
318.2
370.6

125.3
320.5
375.1

128.5
327.7
380.0

134.9
327.1
384.6

136.2
327.2
386.0

136.9
329.2
391.8

143.0
338.1
395.6

137.8
333.3
402.4

145.8
336.3
404.2

144.6
339.2
409.8

142.6

173.4

153.7

148.9

168.5

174.7

177.1

173.4

186.1

197.1

201.7

200.3

205.7

213.1

210.8

152.4
113.6
38.8
-9.8

166.8
118.9
47.8
6.7

151.5
112.0
39.5
2.1

154.1
111.8
42.3
-5.2

161.0
115.5
45.5
7.5

164.6
117.8
46.8
10.1

167.8
121.0
46.8
9.3

173.6
121.4
52.3
2

180.3
126.8
53.5
5.8

187.1
129.1
58.0
10.0

189.5
130.8
58.8
12.2

192.8
132.5
60.3
7.5

193.4
133.8
59.5
12.3

200.4
140.5
59.9
12.7

200.1
140.4
59.7
10.7

bil.$__ 1, 202.3

Personal consumption expenditures, total, .do
..do
do
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, total.do
Federal
do
State and local
do

1,271. 0 1,332.7 1,220.0 1,227.9 1,255.5 1,268.0 1,276. 5 1,284.0 1,306. 7 1,325.5 1,343.9 1,354.5 1,354.2

774.6

819.4

112.7
306.6
355.3

196.3
187.4
129.8
57.7
8.9

22.6

15.4

9.5

22.8

22.2

16.5

16.1

16.1

13.1

11.2

11.0

12.5

3.1

2.9

11.3

12.0

262.6
96.5
166.1

262.8
96.6
166.2

269.2
101.6
167.6

263.8
96.7
167.2

265.7
97.3
168.4

264.3
96.2
168.1

263.2
95.9
167.3

262.5
96.8
165.7

261.3
97.5
163.8

262.8
98.7
164.1

267.9
101.3
166.6

271.7
102.9
168.8

274.5
103.6
170.9

272.1
101.2
170.8

271.9
97.1
174.8

277.8
101.9
175.9

r
Revised.
p Preliminary.
tRevised series. Estimates of national income and product
and personal income have been revised back to 1973 (see p. 16ff.of the July 1977 SURVEY and
p. 24 ff. of the July 1978 SURVEY); revisions prior to May 1977 for personal income appear on

p. 36 of the July 1978 SURVEY.
c

9 Includes data for items not shown separately.

Corrected.

S-l
275-875 O - 78 - SI




SUEVEY OF CURKENT 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
IV

Annual total

October 1978
1977

1976

I

III

II

IV

I

II

1978

I

II

HI,

142. 63 144.56
141.6
143.2
129.5
130.9
145.7
147.0
142.3
144.4

147.10
146.2
133.1
150.4
147.1

150.98
149.3
135.7
154.4
149.9

153. 56
151.6
137.8
156.1
152.7

III

IV

IV

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCTf—Con.
Quarterly Data Seasonally Adjusted
Implicit price deflators:!
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
Federal
_. _
.
State and local

do
do _
do

127.15
126.4
117.7
133.4
123.2

133. 76
133.1
124.4
138.2
131.6

141. 61
140.7
129.5
145.0
141.0

130.14
129.1
119.9
136.2
126.2

131. 40
130.7
122.0
136.8
128.4

132. 92
132.1
123.6
137.4
130.3

134. 39
133.8
125.0
138.7
132.5

136. 28
135.6
126.8
139.9
134.9

138. 27
137.9
128.4
142.4
137.4

140. 86
139.9
128.9
144.7
139.7

132.3
132.2
132.8

139.6
138.4
142.5

150.6
146.7
159.4

135.5
135.5
135.6

136. 7
136.6
137.2

138.5
137.7
140.7

140.3
138.9
143.8

142.6
140.5
147.6

145.4
142.5
152.3

148.9
145.0
157.6

151.9
147.9
160.6

155.9
151.2
166.1

158.2
153.6
168.6

162.2
156.7
175.7

167.0
160.5
182.2

128.9
127.5
129.7

136.8
134.4
138.1

146.3
142.7
148.5

132.3
131.4
132.8

134.0
132.1
135.0

135.7
133.3
137.1

137.3
134.2
139.1

140.2
138.0
141.5

142.7
140.1
144.3

145.1
141.1
147.6

147.1
142.7
149.7

150.3
146.9
152.3

153.2
149.6
155.2

156.2
151.5
158.8

158.9
153.3
162.1

Quarterly Data Seasonally Adjusted at Annual Rates

National income, totalt

bil. $.. 1,215.0 1,359.2 1,515.3 1,271.8 1,319.8 1,347.9 1,372.1 1,397.0 1,447.5 1,499. 3 1,537.6 1,576.9 1,603.1 1,688.1

Compensation of employees, total
do
Wages and 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
Nonfinancial, total9
...do
M^amifaptnrinc1 total 0
do
Durable coods
do
Transportation, communication, and
electric, gas, and sanitary serv bil. $..
Rest of the world
do

931.1
805.9
175.4
630.4
125.2

Profits before tax, total
do
Profits tax liabilitv
do
Profits after tax...
_
do
Dividends
do
Undistributed profits.
do
Inventory valuation adjustment
do
Capital consumption adjustment
do
Net interest
.
do
DISPOSITION OF PERSONAL INCOMEf

1,036.8 1,153. 4
890.1
983.6
187.6
200.8
702.5 782.9
146.7
169.8

967.8 1,001.7 1,026.0 1,046.1 1,073.3 1,107. 9 1,140.5 1,165. 8 1,199.7 1,241. 0 1,287.8 1,314. 7
836.1
861.7
881.5
897.3
919.9
946.4
973.4
993.6 1,021.2 ,050.8 1,090.2 ,111.2
181.3
183.7
186.1
188.1
192.6
195.2
198.1
201.7
208.1
211.4
213.9
216.9
654.8
678.0
695.4
709.2
727.2
751.2
775.3
791.9
813.1
839.3
876.3
894.3
131.7
140.0
144.6
148.8
153.4
161.5
167.1
172.2
178.4
190.2
197.6
203.5

87.0
23.5
63.5

88.6
18.4
70.2

99.8
20.2
79.5

91.2
25.1
66.1

88.6
20.9
67.7

88.8
19.6
69.3

87.4
16.9
70.5

89.5
16.3
73.2

95.6
19.4
76.1

98.9
20.0
78.9

97.2
16.5
80.8

107.3
25.1
82.3

105.0
21.9
83.1

110.1
24.0
86.1

113.2
23.5
86.1

22.4

22.5

22.5

22.5

22.5

22.4

22.4

22.8

22.5

22.4

22.4

22.7

22.8

22.2

24.4

95.9

127.0

144.2

110.3

126.8

128.6

130.0

122.5

129.9

143.7

154.8

148.2

132.6

163.4

101.8
13 0
88.9
48 3
18.3

133.2
17 5
115.6
65 6
28.1

149.5
20 9
128.6
74 7
35.1

118.7
13 6
105.1
59 3
23.2

132.3
15.8
116.4
67 0
27.4

135.4
17.0
118.4
67 5
29.7

136.3
18.3
118.0
65 9
28.5

128.7
19.1
109.7
61.9
26.9

134.8
19.7
115.1
66.4
29.9

148.1
19.9
128.1
77.4
37.2

159.5
21.9
137.6
74.7
34.2

155.6
21.9
133.7
80.2
39.1

139.2
22.7
116.6
69.8
32.8

168.9
24.3
144.6
87.8
46.1

9.2
6.1

13.7
8.2

16.1
9.6

12.7
5.9

12.4
8.9

14.3
7.6

14.9
8.2

13.3
8.2

15.4
9.7

14.5
10.4

17.5
10.3

17.1
7.9

17.3
9.4

19.3
11.7

120.4
49.8
70.6
31.9
38.7

155.9
64.3
91.7
37.9
53.8

173.9
71.8
102.1
43.7
58.4

137.2
56.9
80.3
32.6
47. 8

152.6
63.6
89.0
34.5
54.5

158.7
66.3
92.4
37.2
55. 2

157.8
64.7
93.1
38.4
54.7

154.6
62.4
92.2
41.4

164.8
68.3
96.5
41.5
55.0

175.1
72.3
102.8
42.7

177.5
72.8
104.8
44.1

178.3
73.9
104.4
46.3

172.1
70.0
102.1
47.0

205.5
85.0
120.5
48.1
72 4

-12.4
-12.0
78.6

-14.5
-14.4
84.3

-14.8
-14.9
95.4

-12.5
-14.4
80.0

-11.4
-14.4
80.1

-15.7
-14.4
82.0

-13.3
-14.5
86.2

-17.6
-14.5
88.9

-23.5
-16.1
101.7

-24.9
—17.2
104.6

Personal income, total
bil. $ 1,255.5 1,380.9 1, 529. 0
168.8
196.5
226.0
Less: Personal tax and nontax payments
do
1,086.7 1,184.4 1,303.0
Equals: Disposable personal income .
do
1,003.0 1,116. 3 1,236.1
Less: Personal outlays© .
do
83.6
68.0
66.9
Equals: Personal saving §
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
bil. $.. 112.78 120.49 135.80
47.95
52.48
60.16
Manufacturing
do
21.84
23.68
27.77
Durable goods industries^.
do
26.11
28.81
32.39
Nondurable goods industries!!
do
64.82
Nonmanufacturing
do
75.64
68.01
3.79
4.00
4.50
Mining
do
2.55
2.52
2.80
Railroad
..do
1.84
1.30
1.62
Air transportation
do
3.63
2.51
3.18
Other transportation
do
20.14
22.28
25.80
Public utilities
do
17.00
18.80
21.59
Electric
do
3.14
3.47
4.41
Gas and other
_ do
12 74
13 30 15.45
Communication
do
20.60
20.99
22.97
Commercial and other
do
Seas. adj. qtrly. totals at annual rates:
All industries
do
Manufacturing
do
Durable goods industries^
do
Nondurable goods industries!!
do
Nonmanufacturing
do
Mining
do
Railroad
do
Air transportation
do
Other transportation
do
Public utilities
do
Electric
do
Gas and other .
do
Communication
do
Commercial and other..
._
.do

munication.
separately.

-7.7
-15.0
97.3

-14.8
-15.3
99.0

-20.9
-19.3
107.0

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

37.89
16.76
7.79
8.97

137.60
17.13
7.94
9.18

143.66
20.45
9.56
10.89

17.44

14.91

17.04

16.93
1.04

19.14
1.05
.70

16.68
1.02

18.88
1.16

19.21
1.17

20.87
1.15

18.68
1.07

21.13
1.22

21.48
1.20

23.20
1.28

.97
.62
.43

.92
.49
.26

.35

.59
.33

.93

.72

1.02

.95

.94

.61

.76

.50

.63

.51

.60

.59

.82
.56
.62

5.70
4.85

4.79
4.18

5.50
4.74

5.52
4.54
3.33
5.19

3.30
5.27

7.28
6.06
1.21
4.26
6.33

3.97
5.76

7.14
6.01
1.13
4.56
6.18

8.35
7.13
1.23

3.21
5.21

6.61
5.41
1.20
4.03
5.73

7.32
6.14
1.18

2.92
4.82

6.37
5.34
1.03
3.86
5.64

6.15
5.27

3.26
5.52

6.46
5.34
1.12
3.84
5.78

5.55
4.78

.85

.62

210. 74

2 11.57

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
61.57
28.72
32.86

150.76
67.20
31.40
35.80

155.13
68.66
32.11
36.54

158.98
73.62
33.89
39.72

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
4.45
3.35
2.67
2.44

83.56
4.81
3.09
2.08
2.23

86.47
4.80
3.64
2.97
2.37

85.36
5.07
3.05
2.08
2.05

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
23.46
18.22
19.49
3.45
3.96
13 64 ! 14.30
21.36
20.99

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

27.92
23.15
4.78
17.07
24.76

30.22
28.46
29.26
23.83
25.94
25.04
4.62
4.22
4.28
18.18
24.71 2 42. 63 2 42.21

* Includes com-

fSee corresponding note on p. S-l.
9 Includes data for items not shown
©Personal outlays comprise personal consumption expenditures, interest paid




-16.6
-14.8
93.7

50.1

1,305. 4 1,336. 9 1,363. 2 1,392.8 1,430.5 1, 470. 7 1, 508. 6 1, 543. 7 1, 593. 0 1,628.9 1,682.4 1,727.2
179.6
184.4
192.6
200.0
209.0
222.7
223.3
224.6
233.3
237.3
249.1
262.5
1,125.8 1,152.5 1,170.6 1,192.8 1,221. 5 1,248.0 1,285.3 1,319.1 1,359.6 1,391.6 1,433.3 1,464.7
1,046.0 1,078.9 1,100.7 1,124. 8 1,160.9 1,195.8 1,217.8 1, 244. 8 1,285.9 L, 309. 2 ' 1,357.0 L, 390. 2
79.8
73.6
69.9
68.1
60.7
52.2
67.5
74.3
73.7
82.4
76.3
74.4

r
Revised.
J» Preliminary.
* Estimates (corrected for systematic biases) for JulySept. 1978 and Oct.-Dec. 1978 based on expected capital expenditures of business. Expected

expenditures for the year 1978 appear on p. 23 of the Sept. 1978 SURVEY.

-20.3
-14.6
91.7

CO I

.99
.68
.42

.76

.64
.26

.98

.77

.67
.43

.78
.39

.76
.46

.71
.52

.88

.83
.60

.90
.73

by consumers to business, and personal transfer payments to foreigners (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