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1. Gross National Product, Net National Product, and National Income
Table 1.1—Gross National Product
1972

1973

1974

1975

1972

IV

1973
I

Millions of dollars
Gross national product

IV

III

II

1975

1974
I

II

III

IV

I

II

1976
III

IV

I

II >

Billions of dollars, seasonally adjusted at annual rates

1,171,121 1,306,554 1,413,206 1,516,338 1,219.4 1,265.3 1,288.4 1,317.5 1,355.1 1.372.7 1,399.4 1,431.6 1,449.2 1,446.2 1,482.3 1,548.7 1.588.2 1,636.2 1,673.0

Personal consumption expenditures

733,034

809,885

887,494

973,216

761.8

787.2

801.0

818.2

833.1 853.3

878.7

906.8

911.1

933.2

960.3

987.3 1,012.0 1,043.6 1,064.6

111, 241
299,347
322,446

Durable goods
Nondurable goods.
Services

123,714
333,840
352,331

121,634
376, 218
389,642

131, 726
409,124
432,366

117.6
311.2
333.0

125.7
321.4
340.1

124.6
327.6
348.8

123.5
338.1
356.6

121.1
348.1
363.8

118.6
360.6
374.1

122.5
371.9
384.3

128.0
383.8
394.9

117.4
388.5
405.2

122.1
394.4
416.7

127.0
405.8
427.4

136.0
414.6
436.7

141.8
421.6
448.6

151 4
429.1
463.2

154.1
434.8
475.6

Gross private domestic investment.

188,275

219,999

214,982

183,698

200.5

210.6

218.0

220.0

231.5

216.4

218.8

213.3

211.5

172.4

164.4

196.7

201.4

229.6

236.3

Fixed investment

178,833

202,092

204,308

198,314

189.7

198.8

202.6

204.6

202.5

203.8

205.8

206.0

201.7

194.6

194.3

198.6

205.7

214.7

223.0

Nonresidential _

116,827

135,979

149, 227

147, 142

123.8

130.4

134.5

138.6

140.3

145.1

149.0

150.9

151.9

148.0

145.8

146.1

148.7

153.4

158.5

42,543

49, 019

54, 120

52,029

44.0

46.0

48.4

50.5

51.2

52.4

54.8

54.1

55.2

53.1

51.2

51.8

52.1

53.2

55.3

74,284

86,960

95, 107

95, 113

79.9

84.5

86.1

88.1

89.1

92.7

94.2

96.8

96.7

94.9

94.6

94.3

90.6

100.2

103.1

62,006

66,113

55,081

51, 172

65.9

68.3

68.0

66.0

62.1

58.7

56.8

55.0

49.8

46.6

48.6

52.6

57.0

61.3

64.5

60,281
664

64,307
601

52, 727
1,013

48,991
843

64.2
g

66.5
§

66.4
5

64.2
6

60.1
7

56.4
1.0

54.6
9

52.7
9

47.2
13

44.9
5

46.7
g

50.2
10

54.2
14

58.6
12

62.1
9

1,341

1.2

Structures
Producers' durable equipment .
Residential
Nonfarm structures
Farm structures
Producers' durable equipment

1,061

1,338

1.1

1.2

1.2

1.2

1.4

1.4

1.3

17,907

10, 674 -14,616

10.8

11.8

15.4

15.4

29.0

12.6

13.0

7.3

9.7 -22.2

8,832
610

Nonfarm
Farm

1,205

9,442

Change in business inventories..

14,659
3,248

12,190 -17,626
-1,516
3,010

10.3
.5

11.6
.2

11.9
3.5

11.4
4.0

23.7
5.3

14.5
-1.9

13.9
-.9

7.4
-.1

Net exports of goods and services. . -3,293

1.2

1.3

1.3

-30.0

12.9 -25.6 -31.2
-3.2
3.4
1.2

1.4

1.4

1.5

-2.0

-4.3

14.8

-4.2
2.2

-9.5
5.2

12.7
2.2

1.5

13.3
14.7
-1.4

7,143

7,466

20,471

1.7

4.3

10.0

12.7

15.0

3.9

8.1

15.0

24.4

21.4

21.0

8.4

9.1

72,656
75,949

101, 556
94, 413

144,391
136,925

148, 070
127,599

79.0
81.1

89.4
87.7

96.7
92.4

105.2
95.3

115.0
102.3

133.2
118.2

142.2
138.3

148.4
145.5

153.8
145.7

147.5
132.5

142.9
118.5

148.2
126.8

153.7
132.7

154.1
145.7

156.8
147. 7

253,105

269,527

303,264

338,953

259.2

265.8

265.1 269.3

277.8

288.0

298.0

308.6

318.5

325.6

333.2

343.2

353.8

354.7

363.1

102, 126

102, 188

111,626

124,417

102.3

104.2

100.1

100.1

104.4

106.1

108.9

113.5

118.1

120.3

122.4

124.6

130.4

129.2

132.3

73,513
28,613

73,534
28,654

77,296
34,330

84,282
40,135

73.3
29.0

74.1
30.1

73.1
27.0

72.5
27.6

74.4
29.9

74.9
31.2

75.9
33.0

78.2
35.3

80.2
37.9

82.0
38.3

83.4
39.0

84.6
40.0

87.1
43.2

86.2
42.9

88.4
43.9

150,979

167,339

191,638

214,536

161.6

165.0

181.9

189.1

195.1

200.4

205.3

210.9

218.6

223.4

225.5

230.8

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

-2.1

157.0

169.3

173.5

2.9

Table 1.2.—Gross National Product in Constant Dollars
[Billions of 1972 dollars]
1972
1972

1973

1974

1975

IV

I

II

III

IV

I

II

1976

1975

1974

1973

III

IV

I

II

III

IV

I

II 9

Seasonally adjusted at annual rates
Gross national product

1, 171. 11,235.0 1,214.0 1,191.7 1,202.2 1,229.8 1,231.1 1,236.3 1,242.6 1,230.4 1,220.8 1,212.9 1,191.7 1, 161. 11, 177. 11,209.3 1, 219. 2 1,246.3 1,259.7

...
..

Durable goods
Nondurable goods
Services

767.7

759.1

770.3

752.8

767.7

766.8

770.4

765.9

761.8

761.9

764.7

748.1

754.6

767.5

775.3

783.9

800.7

808.7

121.8
309.3
336.5

112.3
303.5
343.4

111. 9
306.1
352.4

117.6
306.4
328.8

124.9
310.9
331.9

123.0
307.8
336.0

121.2
310.6
338.7

118.1
308.0
339.7

114.9
305.1
341.8

115.0
304.0
342.9

116.1
304.9
343.7

103.1
299.8
345.1

106.0
300.6
348.0

108.4
307.2
351.8

115.1
306.8
353.4

118.0
309.5
356.4

124.3
314.6
361.8

124.6
317.7
366.5

188.3

Residential
Nonfarm structures
Farm structures
Producers' durable equipment

. ..

Change in business inventories
.. .

» Preliminary.

24




207.4

204.9

211.8

194.8

187.9

176.2

169.1

129.3

126.2

148.7

147.0

167.1

170.5

192.9

192.6

190.8

186.4

183.4

178.5

171.1

161.1

149.8

147.4

149.7

152.5

156.7

161.0

131.0

128.5

111.4

122.9

128.5

130.7

132.5

132.4

133.5

131.6

127.3

121.8

114.4

110.6

110.1

110.5

112.6

115.2

45.5
85.5

42.1
86.5

36.7
74.7

43.2
79.7

44.3
84.2

45.5
85.1

46.3
86.2

45.7
86.7

44.6
88.9

43.5
88.1

40.3
86.9

39.8
82.0

37.5
76.9

36.1
74.5

36.6
73.5

36.7
73.8

37.1
75.5

38.3
76.9

59.7

45.0

38.4

63.8

64.4

62.0

58.3

54.0

49.9

47.0

43.9

39.3

35.4

36.8

39.6

41.9

44.1

45.8

62.1
.6
1.2

62.7
.6
1.2

60.4
.4
1.2

56.5
.5
1.2

52.2

47.8
.9
1.3

44.9

41.9
.7
1.3

37.1
1.0
1.2

34.0
.4
1.0

35.2
.4
1.1

37.6
.7
1.2

39.7
1.0
1.2

42.0
.9
1.3

43.9
.6
1.2

10.8

11.7

14.8

14.1

25.4

11.4

9.4

5.1

8.0 ' -20. 5 -21.2

-1.0

-5.5

10.4

9.5

5.1
-.1

8.8 -21.5 -21.5
.3
—.7
1.0

-1.9
.9

-7.0
1.5

8.9
1.5

10.5
-.9

60.3
.7
1.1

57.9
.5
1.2

9.4

16.5

-3.3

14.2
2.3

42.9
.8
1.3

36.6
.6
1.2

8.5 -12.0
8.9 -13.0
-.4
.9

of goods and

7.6

16.5

22.6

72.7
75.9

Exports
Imports

Federal
State and local

204.6

186.7

8.8
.6

Net exports of goods and services

Government purchases
services

197.6

149.8

62.0

Structures
Producers' durable equipment

137.8

173.5

42.5
74.3

Nonresidential..

182.0

190.7

116.8

Fixed investment.. ._

207.2

178.8

Gross private domestic investment

Nonfarm
Farm

733.0
111.2
299.3
322.4

Personal consumption expenditures ..

87.4
79.9

97.2
80.7

90.6
68.1

253.1

252.5

256.4

261.0

102.1
151.0

96.6
155.9

95.3
161.1

95.7
165.2

10.4
.4
-1.4

11.6
.1

12.0
2.7

11.5
2.6

12.0
-.6

9.6
-.2

12.9

18.4

14.9

14.9

17.7

20.1

24.3

22.8

23.1

16.6

15.8

90.7
77.7

97.8
79.4

98.7
83.8

96.4
81.5

95.9
78.2

90.3
70.2

87.7
63.4

90.7
67.9

93.9
70.8

93.6
77.0

93.6
77.7

251.8

252.0

255.4

256.1

257.1

256.9

257.1

259.1

262.4

265.2

261.9

264.6

95.2
156.6

94.3
157.7

95.3
160.1

94.7
161.4

95.8
161.3

95.4
161.5

94.8
162.2

95.3
163.8

95.6
166.9

97.2
168.0

95.4
166.6

96.7
167.9

2.3

5.7

9.3

84.5
82.1

86.2
80.5

88.3
79.0

253.2

255.2

251.2

99.6
153.6

100.7
154.5

96.3
154.9

77.0
78.4

21.7
3.7

CURRENT BUSINESS STATISTICS

JLHE STATISTICS here update series published in the 1975 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (available from the Superintendent of Documents for $5.10) provides a description of each series, references
to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1971 through 1974 (1964-74 for major quarterly
series), 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.
1973

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

1975

1974

1973

II

Annual total

III

1975

1974

IV

I

| II

III

IV

I

II

1976
III

IV

I

JJ>

Seasonally adjusted quarterly totals at annual rates

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

bil.$._ sl, 306.6

1,413.2 1,516.3

1,288.4 1,317.5 1,355.1 1,372.7 1,399.4 1,431.6 1,449.2 1,446.2 1,482.3 1,548.7 1,588.2 1,636.2 1,673.0

Personal consumption expenditures, total.. do

809.9

887.5

973.2

801.0

818.2

833.1

853.3

878.7

906.8

911.1

933.2

960.3

987.3 1,012.0 1,043.6 1,064.6

Durable goods total 9
do
Motor vehicles and parts
do
Furniture and household equipment. _ -do

123.7
55.2
50.7

121.6
47.9
54.7

131.7
53.2
57.6

124. 6
56.6
50.3

123.5
54.5
51.0

121.1
50.7
52.0

118.6
46.2
53.7

122.5
48.5
54.9

128.0
53.0
55.7

117.4
43.7
54.4

122.1
47.6
54.6

127.0
49.5
57.0

136.0
56.3
58.2

141.8
59.2
60.6

151.4
68.0
61.2

154.1
69.7
62.0

Nondurable goods, total 9
Clothing and shoes
Food
Gasoline and oil - ..

do
do._
do
do

333.8
61.3
168.1
27.8

376.2
65.1
189.9
36.3

409.1
70.0
209.5
38.9

327.6
60.7
164.6
26.8

338.1
61.7
171.3
27.6

348.1
62.8
175.2
30.2

360.6
64.2
181.5
31.8

371.9
65.0
186.4
36.2

383.8
66.2
193.7
38.0

388.5
65.0
198.0
39.3

394.4
66.6
203.2
37.9

405.8
69.3
207.8
38.6

414.6
71.3
211.8
39.2

421.6
73.0
215.2
39.9

429.1
73.5
219.2
40.1

434.8
73.5
222.5
40.1

do
do
do _
do

352 3
50.2
123.2
27.9

389.6
56.1
136.4
31.1

432.4
63.9
150.2
34.0

348.8
49.6
121.5
27.6

356.6
51.1
124.8
28.1

363.8
51.6
128.1
28.6

374.1
52.8
131.8
29.7

384.3
55.3
134.6
30.6

394.9
57.5
137. 8
31.6

405.2
59.1
141.3
32.5

416.7
61.2
145.0
33.3

427.4
63.7
148.4
33.6

436.7
65.0
151.8
34.1

448.6
65.9
155.8
35.0

463.2
68.4
159.7
36.5

475.6
69.5
163.6
37.6

183.7

218.0

220.0

231. 5

216.4

218.8

213.3

211.5

172.4

164.4

196.7

201.4

229.6

236.3

203.8
145.1
52.4
92.7

205.8
149.0
54.8
94.2

206.0
150.9
54.1
96.8

201.7
151.9
55.2
96.7

194.6
148.0
53.1
94.9

194.3
145.8
51.2
94.6

198.6
146.1
51.8
94.3

205.7
148.7
52.1
96.6

214.7
153.4
53.2
100.2

223.0
158.5
55.3
103.1

Services total 9
Household operation
Housing
Transportation

--

_

__

Gross private domestic investment, total

do_. _

220.0

215.0

do
do
do
do

202.1
136.0
49.0
87.0

204.3
149.2
54.1
95.1

198.3
147.1
52.0
95.1

202.6
134.5
48.4
86.1

204.6
138.6
50.5
88.1

202.5
140.3
51.2
89.1

do
__do
do

66.1
17.9
14.7

55.1
10.7
12.2

51.2
-14.6
-17.6

68.0
15.4
11.9

66.0
15.4
11.4

62.1
29.0
23.7

58.7
12.6
14.5

56.8
13.0
13.9

55.0
7.3
7.4

49.8
9.7
12.9

46.6
— 22 2
-25.' 6

48.6
-30.0
-31.2

52.6
-2.0
-4.2

57.0
-4.3
-9.5

61.3
14.8
12.7

64.5
13.3
14.7

7.1
101.6
94.4

7.5
144.4
136.9

20.5
148.1
127.6

4.3
96.7
92.4

10.0
105.2
95.3

12.7
115.0
102.3

15.0
133.2
118.2

3.9
142.2
138.3

2.9
148.4
145.5

8.1
153.8
145.7

15.0
147.5
132.5

24.4
142.9
118.5

21.4
148.2
126.8

21.0
153.7
132.7

8.4
154.1
145.7

9.1
156.8
147.7

269.5
102.2
73.5
167.3

303.3
111.6
77.3
191.6

339.0
124.4
84.3
214.5

265.1
100.1
73.1
165.0

269.3
100.1
72.5
169.3

277.8
104.4
74.4
173.5

288.0
106.1
74.9
181.9

298.0
108.9
75.9
189.1

308.6
113.5
78.2
195.1

318.5
118.1
80.2
200.4

325.6
120.3
82.0
205.3

333.2
122.4
83.4
210.9

343.2
124.6
84.6
218.6

353.8
130.4
87.1
223.4

354.7
129. 2
86.2
225.5

363.1
132.3
88.4
230.8

Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Change in business inventories
Nonfarm
Net exports of goods and services
Exports
Imports

do _
do
do

Govt. purchases of goods and services, total -do
Federal
-do
National defense
_- _do
State and local
do
By major type of product:!
Final sales, total
Goods, total
Durable goods
Nondurable goods
Services _
Structures

do
do
do
do
__do
do

_

Change in business inventories..
Durable goods
Nondurable goods

.

_do
do
do

r

l, 288.6
580.9
229.6
351.3
560.5
147.2
'17.9
10.9
7.0

1,273.0 1,302.1 1,326.1 1,360.0 1,386.4 1,424.2 1,439.4 1,468.4 1,512.3 1,550.6 1,592.5 1,621.4 1, 659. 7
727.5
744.0
705.4
724.0
664.8
691.0
621.9
643.0
642.8
586.7
599.8 608.4
571.8
294.9
286.3
280.6
272.0
247.6
249.5
263.8
240. 2
228.3 230.1 230.7
232.3 240.6
449.0
441.1
443.3
395.4
369. 0
402.6 415.3 427. 2 433.4
343.5 356.6
376.1
381.3
758.4
742.6
700.2 719.5
684. 2
666.3
553.2 567.0
605.1
633.8
614.6
652.8
580.1
157.3
151.3
149.1
137.2
145.0
147.4
137.1
148.4
146.2
143.8
148.0
146.5
150.0
13.3
14.8
'7.3
rl5.4 ' 15. 4 ' 29.0 rl2. 6 '13.0
' -14.6
'9.7 '• -22.2 ' -30.0 '-2.0 ' -4.3
5.2
-3.6
-7.0 -10.6
5.1
12.1
2.2
14.5 -15.4 -15.3
-12.1
10.9
6.6
11.8
8.1
18.5
6.3
2.3
5.0
4 7
10.8
-6.8 -14.7
3.6
16.9
-2.6
4.5
6.0

1,402.5 1,531.0
696.3
629.0
240.2
266.5
388.8
429.8
626.6
692.5
146.9
142.1
'10.7
7.1
3.6

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

bil.$_. '1,235.0

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

do
do ..
do

Gross private domestic investment, total.. .do
Fixed investment
Nonresidential
Residential
Change in business inventories
Net exports of goods and services

do
do .
do
do
do

1,214.0 1,191.7

1,231.1 1,236.3 1,242.6 1,230.4 1,220.8 1,212.9 1,191.7 1,161.1 1,177.1 1,209.3 1,219.2 1,246.3 1, 259. 7
808.7
800.7
783.9
775.3
764.7
748.1
767.5
761.9
765.9
754.6
766.8 770.4
761.8

767.7

759.1

770.3

121.8
309.3
336.5

112.3
303.5
343.4

111.9
306.1
352.4

123.0
307.8
336.0

121.2
310.6
338.7

118.1
308.0
339.7

114.9
305. 1
341.8

207.2

182.0

137.8

207.4

204.9

211.8

190.7
131.0
59.7
16.5

173.5
128.5
45.0
8.5

149.8
111.4
38.4
-12.0

192.6
130.7
62.0
14.8

190.8
132.5
58.3
14.1

186.4
132.4
54.0
25.4

7.6

16.5

22.6

5.7

9.3

12.9

Govt. purchases of goods and services, total, do
252.5
256.4
251.2
251.8
261.0
Federal
_
do
96.6
95.3
95.2
96.3
95.7
State and local
do
155.9
161.1
165.2 I 154. 9
156.6
r
Revised.
* Preliminary.
f Revised series . Estim ates of national income and
product and personal income have been revised ba ck to 19'73 (see p . 24 fl. of the July 1976

118.0
309.5
356.4

124.3
314.6
361.8

124.6
317.7
366.5

148.7

147.0

167.1

170.5

149.7
110.1
39.6
-1.0

152.5
110.5
41.9
-5.5

156.7
112.6
44.1
10.4

161.0
115.2
45.8
9.5

22.8

23.1

16.6

15.8

115.0
304.0
342.9

116.1
304.9
343.7

103.1
299.8
345.1

108.0
300.6
348.0

108.4
307.2
351.8

115.1
308.8
353.4

194.8

187.9

176.2

169.1

129.3

126.2

183.4
133.5
49.9
11.4

178.5
131.6
47.0
9.4

171.1
127.3
43.9
5.1

161.1
121.8
39.3
8.0

149.8
114.4
35.4
-20.5

147.4
110.6
36.8
21 2

18.4

14.9

14.9

17.7

20.1

24.3

264.6
261.9
265.2
262.4
256.1
259.1
257.1
256.9
257.1
255.4
252.0
96.7
95.4
97.2
95.6
95.3
95.4
94.8
94.3
95.8
95.3
94.7
167.9
166.6
166.9
168.0
162.2
163.8
161.3
161.5
157.7
161.4
160.1
SURV EY); revisions pri or to M ay 1975 for perso nal income appe ar on p 32 of t he July
1976 S URVEY.
9 Inc ludes da ta for ite tns not srlown sep arately.

S-l
215-400 O - 76 - SI




SURVEY OF CURRENT BUSINESS

S-2
1973

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

1974

1975

Annual total

1973

1975

1974
IV

III

July 1976

I

II

III

IV

I

1976
III

II

IV

I

II*

III

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued

I

NATIONAL INCOME AND PRODUCTf— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
Implicit price deflators :t
Gross national product
Index 1972=100
Personal consumption expenditures
do
Durable goods
do
Nondurable goods
do
Services
do
Gross private domestic investment:
Fixed investmentdo
Nonresidential
do
Residential
do
Govt. purchases of goods and services
Federal
State and local

do
do
do

National income totalf

bil. $

r

r

116 41
116 9
108.3
124 0
113 5

127 25
126 3
117.7
133 7
122 7

106 57
106 2
101.9
108 9
105 3

109 05
108 8
102.5
113 0
107 1

111 56
112 0
103.2
118.2
109. 5

114. 64
115.3
106.5
122. 3
112.1

118. 03
118 6
110.2
125.9
114.9

121. 60
121 8
113.8
129.6
117.4

124 55
123 7
115. 1
131 2
119 7

125. 93
125 1
117.1
132.1
121.5

128. 07
127.3
118.2
135.1
123.6

130. 27
129. 1
120.2
136.2
125.9

131. 29
130.3
121.8
136.4
128.0

132. 81
131.6
123.7
138.9
129.8

106.0
103 8
110 8

117 7
116 1
122 3

132.4
132 1
133 2

107. 2
104 6
113 2

108.6
108 0
115 0

111.1
108 7
117.5

115.3
113.2
121.0

120. 3
118.6
125.3

125.2
124.7
126.7

129.9
129 4
131 5

131.9
131.8
132.1

132.7
132.7
132.8

134.9
134. 5
135.9

137.0
136.2
139.0

138.5
137.5
141.0

106.7
105 8
107.3

118.3
117 1
119 0

129.9
130 0
129 8

107.0
105 2
108 1

110.3
110 7
110 0

112.7
111.3
113.6

116.4
114.9
117.2

120.0
118.4
121.0

124.0
123.8
124.1

126.7
126 8
126 5

128.6
128.4
128.7

130.8
130.4
131.0

133.4
134.2
132.9

135.4
135.4
135.4

137.2
136.8
137.4

1 135 7 1 207 6 1 073 6 1 102 7 1 113.5 1,125.6 1,147.6

1,156.3

1 149 7 1,182.7

1,304.7

105. 80
105 5
101.6
107 9
104.7

1 064 6

1,233.4

1,264.6

2
0
3
7
2

828 4
725 9
153. 1
572 8
102 5

846.3
739.7
155.5
584. 2
106 6

866.3
756.7
158.1
598.6
109.6

888.8
775.6
161.1
614.4
113 3

901.8
786.0
166.7
619.3
115 8

904.0
785.8
170.0
615.7
118 2

912.9
792.8
173.8
619.0
120.1

935.2
811.7
177.3
634.4
123.5

963.1
836.4
182.2
654.1
126.7

90 2
24.9
65.3

94 6
33.9
60.8

98 3
37.3
61.0

91.2
31.6
59.6

85.0
24.6
60.4

86.0
23.8
62.2

85.5
23.3
62.2

81. 1
17.9
63.2

86.8
24.1
62.7

95.5
29.2
66.3

97.2
28.3
69.0

93.2
21.9
71.4

100.0
27.5
72.6

21 0

22 4

21 5

21 5

20.9

20.6

21.0

21.5

21 9

22.3

22.4

22.9

23.3

23.1

do .
do
do
do
do

799.2
701.2
148.6
552.6
98 0

875 8
764 5
160.4
604 1
111 3

928 8
806 7
175.8
630 8
122 1

Proprietors' income with inventory valuation
and capital consumption adjustments,
total
bil. $
Farm
do
Nonfarm
_ __
do
Rental income of persons with capital consumption adjustment
bil $

92.4
32.0
60.4

86.9
25.8
61.1

21 6

Compensation of employees, total -Wages and salaries, total
Govt. and govt. enterprises
Other
Supplements to wages and salaries

Corp. profits with inventory valuation and capi-

807
708
149.
558
99

994.4 1,016.9
861.5
880.7
185.4
188.7
692.1
676.1
132. 9
136. 2

99 1

84 8

91 6

97 8

99 3

95 7

87.8

81 7

74 1

69 0

86.6

105 3

105 6

115.1

90.4
16.2
74 1
44 1
24.0

76.7
14.1
62 6
36 9
11.9

97.0
12.9
84 1
46 4
17.2

89.5
16. 2
73 3
43 0
23.7

90 3
15.7
74 5
43 1
21 2

81.4
14.8
66.6
39 4
15.6

80.8
14.0
66.8
39.0
12.1

75.1
14.6
60.5
37.7
10.7

69.5
13.1
56.3
31 6
9.0

72.1
13.9
58 2
29 7
8.4

91.7
12.5
79.2
43.5
14.8

111.4
12.1
99.3
57.0
24.3

112.7
12.9
99.8
55,3
21.1

121.9
14.0
107.9
61.2
23.7

do

83
6.8

60
11.2

7 9
6 2

83
6 5

80
7.7

57
14.6

6.4
9.0

6.3
10.1

57
11.0

50
5.5

7.3
6.3

9 5
6.5

9.7
6.4

8.6
7.7

do
do
do
. do

115 8
48 7
67.1
27.8
39 3

127 6
52 4
75.2
30.8
44 4

114 5
49 2
65 3
32.1
33 2

113 0
47 5
65 4
28.1
37 4

117 1
48 6
68 5
29.3
39 1

126.3
50.5
75.8
29.9
45 9

126.4
53.0
73.3
30.7
42.6

138.6
57.6
81.0
31.3
49 7

119. 2
48.6
70.6
31.1
39 5

94 2
40 2
54.0
31.7
29 3

105.8
44.8
61.0
31.9
29 1

126.9
54.8
72.1
32.6
39 5

131.3
57.2
74.1
32.2
41 9

141.1
61.4
79.7
33.1
46 6

_ .do

-18.6
19
52.3

-39.8
—3 0
67.1

-11.4
—11 5
74.6

-17.0
18
52.5

-19.1
14
55.3

-30.4
—.2
59.4

-36.6
-1.9
65.9

-53.4
-3.5
70.0

-38.8
—6.3
73.2

-16.5
—8 6
73.7

-7.8
-11.4
74.0

-9.0
-12.6
74.9

-12.3
— 13.5
75.8

-11.5
-14.5
78.6

Corp. profits with invent, val. adj.:
Domestic total
Financial
Nonfinancial total 9

do
do
do

Durable goods
do
Transportation, communication, ^and
Rest of the world
Profits before tax total
Profits tax liability
Profits after tax
Dividends
'
Inventory valuation adjustment _
Net interest

do

34.4
-14.2
-15.4
80.3

DISPOSITION OF PERSONAL INCOME f
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
Less' Personal tax and nontax payments
Equals* Disposable personal income
Less' Personal outlays©
Equals: Personal saving§
_

b'l $
do
do
do
do

r
a,
1 052 4 r i 153 3 rl 249 7 rl 064 3 '1 095 5 1 109 7 136.8 1,172.5 1 194 1 rl 203 1 1 230.3 '1,265.5 l 299.7 '1, 331. 3 1,361.4
167.4
142.2
174.5
189.6
183.8
161.3
178.3
174.0
179.8
152 9
179 3
157 8
150 8
' 170*4 168 8
969.5 998.0 1,015.8 1 023.8 1,088.2 1,091.5 1,119.9 1, 147. 6 1,171.8
948.4
982 9 1 080 9 911 4
937 7
901 7
983.6 1,011.1 1,036.2 1,068.0 1,089.3
875.8 901.6 930.4
935.0
910.7
856 6
956 7
831.3
996.9
839 8
67.8
104.5
79.5
82.5
80.5
67.6
83.7
80.8
72.6
67.2
72.2
70.3
81.1
84.0
71.7

NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals :
All industries
Manufacturing
Durable goods industries!
Nondurable goods industries 1
Nonmanufacturing _
Mining
Railroad
Air transportation
Other transportation

bil. $
do
... do ...
do

99.74
38.01
19.25
18.76

112. 40
46.01
22.62
23.39

112. 78
47.95
21.84
26.11

25.04
9.62
4.84
4.78

28.48
11.43
5.84
5.59

24.10
9.49
4.74
4.75

28.16
11.27
5.59
5.69

28.23
11.62
5.65
5.96

31.92
13.63
6.64
6.99

25 82
10.84
5.10
5.74

28.43
12.15
5.59
6.55

27.79
11.67
5.16
6.51

30.74
13.30
5.99
7.30

25.87 i 30. 51 i 30. 49
13.31
13.08
10.96
5.73
5.64
4.78
7.58
7.43
6.18

do
do
do
do
do

61.73
2.74
1.96
2.41
1.66

66.39
3.18
2.54
2.00
2.12

64.82
3.79
2.55
1.84
3.18

15.42
.69
.48
.57
.44

17.05
.71
.56
.60
.47

14.61
.68
.50
.47
.34

16.89
.78
.64
.61
.49

16.61
.80
.64
.43
.58

18.29
.91
.78
.48
.71

16.28
14.98
.91 ' .97
.71
.59
.47
.44
.77
.62

16.12
.94
.62
.50
.85

17.44
.97
.62
.43
.93

14.91
.92
.49
.26
.72

17.43
.95
.56
.43
.86

17.18
.95
.56
.34
.80

do
do
do
do
do. - .

18.71
15.94
2.76
12.85
21.40

20.55
17.63
2.92
13.96
22.05

20.14
17.00
3.14
12.74
20.60

4.82
4.04
.77
3.19
5.24

5.36
4.54
.82
3.53
5.83

4.38
3.85
.52
3.19
5.05

5.30
4.56
.75
3.60
5.46

5.20
4.42
.78
3.39
5.57

5.67
4.80
.87
3. 78
5.97

4.42
3.84
.58
3.11
4.88

4.94
4.15
.79
3.22
5.19

5.07
4.16
.91
3.14
5.00

5.70
4.85
.85
3.26
5.52

4.79
4.18
.62
2.92
4.82

5.74
4.90
.84

5.82
4.87
.96

28.88

* 8. 71;

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

100.90
38.81
19.73
19.08

103.74
40.61
20.48
20.13

107. 27
42.96
21.43
21.53

111.40
45.32
22.50
22. 82

113.99
47.04
23.08
23.96

116. 22
48.08
23.28
24.80

114.57
49.05
22.86
26.20

112.46
48.78
22.59
26. 19

do ..
do
do
do
do

62.09
2.82
1.95
2.49
1.79

63.12
2.76
2.05
2.20
1.73

64.31
2.80
2.10
2.13
1.63

66.08
3.07
2.42
2.21
1.84

66.94
3.27
2.68
1.84
2.16

68.14
3.56
3.05
1.81
2.71

65.52
3.76
2.39
2.09
2.82

63.68
3.78
2.70
1.60
2.75

.

Public utilities
Electric.
Gas and other__
Communication
Commercial and other
Seas. adj. qtrly. totals at annual rates:
All industries
._
Manufacturing
... . .
Durable goods industries f
Nondurable goods industries 1
Nonmanufacturing
Mining. _
Railroad __
Air transportation
Other transportation

Public utilities
do
18.58 19.80
Electric
..
do
16.72
16.00
Gas and other
do
3.08
2.58
13.24
Communication
..
do
13.12
Commercial and other
do...
21.35
21.36
T
Revised.
» Preliminary.
i Estimates (corrected for systematic biases) for Apr.June 1976 and July-Sept. 1976 based on expected capital expenditures of business. Expected
2
expenditures for the year 1976 appear on p. 17 of the June 1976 SURVEY.
Includes com.
munication.
fSee corresponding note on p. S-l.
9 Includes data for items not shown




112.16 111. 80
47.39 46.82
21.01 21.07
26.38 25. 75
64.76
3.82
2.75
2.12
2.99

64.98
3.82
2.39
1.65
3.56

114.72 1121.14 i 123.00
54.06
52.28
49.21
23.42
22.68
21.63
30.64
29.60
27.58
65.51
3.83
2.08
1.18
3.29

68.86
3.68
2.16
1.47
3.32

68.93
3.85
2.37
1.45
2.96

22.81
22.90
21.91
20.91
19.79
19.52
20.93 20.28
20.97 20.16
20.12
19.54
19.46
17.92
18.56
16.41
16.58
17.76
17.47
17.03
18.10
17.12
3. 36
3. 35
3.36
3.00
3.21
3.17
3.11
2.68
3.25
2.87
3.00
12.54
12. 95
14.04
12. 50
14.01
13.36
13.94
13.83
2
35. 41
20.68 2 35. 42
20.44
22.04
22.84
20.83 20.34
20.82
21.63
21.69
separately.
0Personal outlays comprise personal consumption expenditures, interest
paid by consumers to business, and personal transfer payments to foreigners (net).
§Personal saving is excess of disposable income over personal outlays.
.
IfData 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