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SURVEY OF CURRENT BUSINESS

January 1977

9

NATIONAL INCOME AND PRODUCT TABLES
1975
1975

1976 v

III

1976
IV

I

II

1975
III

IV p

1975

1976 v

III

1976
IV

Seasonally adjusted at annual rates

I

II

III

IV v

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)
516.3

Durable goods
Nondurable goods.
Services

,692.4

,548.7

,588.2

,636.2

675.2

973.2

,078.6

987.3

,012.0

,043.6

, 064.7

131.7
409.1
432.4

Gross national product
Personal consumption expenditures..

156.3
440.3
482.0

136.0
414.6
436.7

141.8
421.6
448.6

151.4
429.1
463.2

,709.8

,246.

, 748.5 ,191.7

, 265.0

209.3

,219.2

,272.2

1,281. 5

, 117.5

770.3

812.9

775.3

783.9

800.7

808.6

815.7

826.6

157.6
441.8
489.1

161.2
455.5
500.8

111.9
306.1
352.4

125.7
319.1
368.1

115.1
306.8
353.4

118.0
309.5
356.4

124.3
314.6
361.8

125.2
317.6
365.8

126.2
318.9
370.6

127.0
325.5
374.2

183.7

241.2

196.7

201.4

229.6

155.0
434.8
474.9
239.2

247.0

249.0

137.8

171.9

148.7

147.0

167.1

171.7

175.2

173.7

198.3

227.7

198.6

205.7

214.7

223.2

231,. 9

241.1

149.8

162.8

149.7

152.5

156.7

160.6

165.0

169. 1

Nonresidential
Structures
Producers' durable epuipment-

147.1
52.0
95.1

160.0
55.4
104.5

146.1
51.8
94.3

148.7
52.1
96.6

153.4
53.2
100.2

157.9
54.9
103.0

163.0
56.0
107.0

165.5
57.5
108.0

111.4
36.7
74.7

115.7
38.1
77.6

110.1
36.6
73.5

110.5
36.7
73.8

112.6
37.1
75.5

114.9
37.9
77.0

117.5
38.4
79.2

117.8
39.0
78.8

Residential
Nonfarm structures
Farm structures
Producers' durable equipment-.

51.2
49.0
.8
1.3

67.8
65.1
1.1
1.6

52.6
50.2
1.0
1.4

57.0
54.2
1.4
1.4

61.3
58.6
1.2
1.5

65.3
62.9
.9
1.5

68.9
66.3
1.0
1.6

75.6
72.7
1.2
1.7

38.4
36.6
.6
1.2

47.1
45.1
.7
1.3

39.6
37.6

1.2

41.9
39.7
1.0
1.2

44.1
42.0
.9
1.3

45.7
43.9
.6
1.2

47.4
45.5
.7
1.3

51.3
49.2
.8
1.4

-14.6
-17.6
3.0

13.5
13.6
-.2

-4.3
-9.5
5.2

14.8
12.7
2.2

16.0
17.3
-1.3

15.1
15.6
-.5

7.9
8.9
-1.0

-12.0
-13.0
.9

9.1
9.2
-.1

-1.0
-1.9
.9

-5.5
-7.0
1.5

10.4
8.9
1.5

11.1
12.0
-.9

10.2
10.5
-.3

4.7
5.4
-.7

Gross private domestic investmentFixed investment

Change in business inventories Nonfarm
Farm

-2.0
-4.2

2.2

20.5

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

21.4

21.0

8.4

9.3

22.6

15.9

22.8

23.1

16.6

16.0

15.7

15.3

161.9
155.1

148.2
126.8

153.7
132.7

154.1
145.7

160.3
151.0

167.7
163.0

165.6
160.4

90.6
68.1

95.7

90.7
67.9

93.9
70.8

93.6
77.0

95.4
79.4

98.0
82.3

95.8
80.5

339.0

365.8

343.2

353.8

354.7

362.0

369.6

376.8

261.0

262.4

265.2

261.9

263.6

265.5

265.8

124.4
84.3
40.1
214.5

Exports
Imports

6.9

148.1
127.6

Net exports of goods and services

133.4
88.2
45.2
232.3

124.6
84.6
40.0
218.6

130.4
87.1
43.2
223.4

129.2
86.2
42.9
225.5

131.2
86.9
44.2
230.9

134.5
88.5
46.0
235.0

138.9
91.3
47.6
238.0

95.7

95.6

97.2

95.4

96.0

97.3

98.1

166.9

168.0

166. (

168.2

167.7

5.2

165.2

79.8
264.2
96.7
167.5

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
[,516.3 1,692.4 1,548.7 1,588.2 1,636.2 1,675.2 1,709.8 1,748.5 1,191.7 1,265.0 1,209.3 1,219.2 [,246.3 1,260.0 1,272.2

Gross national product-.
Final sales
Change in business inventories..
Goods
Final sales
Change in business inventories _

1,281.5

.,531.0 1,679.0 1,550. 6 1,592.5 1,621.4 1,659. 2 1,694. 7 1,740.6 1,203.7 1,255.9 1,210. 2 1, 224.7 1,235.9 1, 248.8 1,262.0
10.2
10.4
13.5
-5.5
11.1
-14.6
9.1
-1.0
—2.0
14.8
16.0
-4.3
7.9 - 1 2 . 0
579.1
576.0
546.0
569.5
549.9
681.7
766.1
532.6
576.3
761.5
779.2
703.5
719.7
758.4
742.3
568.9
564.8
748.0
555.4
559.1
696.3
567.2
771.2
547.0
751.0
742.4
544.7
705.4
724.0
727.5
10.2
13.5
10.4
11.1
-5.5
-14.6
9.1
-1.0
15.1
7.9 - 1 2 . 0
-2.0
14.8
16.0
-4.3

1,276.8
4.7
580.8
576.2
4.7

282.7
286.3
-3.6

301.2
295.8
5.4

301.4

314.8
306.3
8.5

204.7
214.1
-9.4

230.7
227.9
2.9

212.1
216.8
-4.6

213.4
220.7
—7.4

221.9
224.3

-7.0

270.0
280.6
-10.6

230.5
226.7
3.8

234.6
230.0
4.6

235.9
230.5
5.4

438.4
433.4
5.0

449.7
443.3
6. 3

459.6
441.1
18.5

457.1
446.6
10.6

457.9
449. 6
8.3

464.4
464.9
-.5

327.9
330.6
-2.7

345.6
339.4
6.2

333.9
330.2
3.7

336.6
334.7
1.9

347.6
334.8
12.8

345.5
338.2
7.3

344.5
338.9
5.6

344.9
345.7

700.2
145.0

719.5
149.1

742.6
151.3

759.6
157.3

781.5
162.2

801.4
168.0

556.6
102.4

578.6
110.0

558.7
104.6

562.8
106.4

570.3
106.6

575.3
108.7

582.1
111.0

586.9
113.8

1,675.2 1,709.8 1,748.5 1,191.7 1, 265.0 1,209.3 1,219.2 1.246.3 1,260.0 1,272.2

1,281.5

1,505.7 1,679.1 1,537.4 1,577.1 1,623.2 1,662.8 1,696.1 1,734.3 1,186.8 1,259.1 1,204.0 1,214.1 1.240.4 [, 254.3 1,266. 2
1, 277.5 1,428.4 1,306.8 1,340. 4 1.380.7 1,415.5 1,443.1 1,474.2 1,004.1 1,072.0 1, 020. 8 , 030. 2 1, 055.1 1, 068. 0 078.2
039.4
994.1 1,018.0 1,031.5
968.1 1,033.9
1, 222. 8 1,370.0 1, 246.7 1, 279.6 1.324.8 1,354.7 1,384.4
983.0
931.8
890.0
865.7
1,105.0 1,240.3 1,127.8 1,157. 6 1,199.8 1, 226.5 1, 253.1
912. 9
925.0
880.1
927. 0
107.5
104.0
102.4
117.8
118.9
125.0
105.1
122.0
106.5
134.2
102. 9
106. 9
129.7
131.2
128.2
35.0
34.2
34.1
50.3
55.0
48.7
34.3
54.8
34.9
35.2
36.0
50.8
50.0
55.0
49.4
4.4
5.1
6.1
8.7
5.8
3.8
1.6
3.0
2.8
1.8
1.9
1.8

1,275.3

Durable goods
Final sales
Change in business inventories.

254.4
266.5
-12.1

301.7
297.4
4.3

265.0
272.0

Nondurable goods
Final sales
Change in business inventories.

427.3
429.8
-2.6

459.8
450.6
9.2

692.5
142.1

771.3
159.7

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
Residual *

1,516.3 1,692.4 1,548.7 1,588.2

Households and institutionsGovernment
Federal
State and local.
Restof the world.




2 3.8

51.5

55.9

53.3

54.8

57.0

58.6

38.5

40.7

38.5

38.8

39.8

40.4

41.5

41.4

144.2
48.2
96.0
4.8

146.3
48.1

144.7
48.2
96.5

145.1
48.1
97.0

145.5
48.1
97.4

146.0
48.0
97.9

146.6
48.1
98.4

147.0
48.1
98.9

5.9

5.3

5.1

5.9

5.6

6.0

6.2

178.5
59.3
119. 2

194.8
63.4
131.4

180.1
59.1
121.1

185.2
61.5
123.7

189.2
62.2
127.0

192.5
62.5
130.0

196.0
63.2
132.8

201.4
65.6
135.8

10.6

13.3

11.3

11.1

13.0

12.4

13.7

14.2

p Preliminary.
1. Equals GNP in constant dollars measured as the sum of final products less G N P in
constant dollars measured as the sum of gross product by industry. The quarterly estimates
are obtained by interpolating tha annual estimates with the satistical discrepancy deflated
by the implicit price deflator for gross domestic business product.
2. Held constant at level of previous quarter.

227-096 0 - 7 7 - 2

1,086.9
1,046.7
938.1
108.5
36.4

NOTE.—Table 2: "Final sales" is classified as durable or nondurable by typa of product.
"Change in business inventories" is classified as follows: For manufacturing, by the type oi
product produced by the establishment holding the inventory; for trade, by the type oi
product sold by the establishment holding the inventory; for construction, durable; and lor
other industries, nondurable.
..
. , „•_
Table 3: The industry classification within the business sector is on an establishment Dasis
and is based on the 1967 Standard Industrial Classification.

CURRENT BUSINESS STATISTICS

J.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 $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.
OF CURRENT BUSINESS.

1973
Unless otherwise stated in footnotes below, data
through 1974 a n d descriptive notes a r e a s shown in
the 1975 edition of B U S I N E S S STATISTICS

1975

1974

IV

Annual total

1974

1973

i

| n

1976

1975
III

|

IV

I

II

III

IV

I

II

III

IV v

Seasonally adjusted quarterly totals at annual rates

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

bil.$_. 1,306.6 1,413.2

1, 616. 3

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 1,675.2 1,709.8 1,748.5
1,088.5 1,117.5

Personal consumption expenditures, total..do

809.9

887.5

973.2

833.1

853.3

878.7

906.8

911.1

933.2

960.3

987.3 1,012.0 1,043. 6 1,064.7

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

123.7
55.2
50.7

121.6
47.9
54.7

131.7
53.2
57.6

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

155.0
70.4
62.3

157.6
71.7
62.9

161.2
72.4
65.1

333.8
61.3
168.1
27.8

376.2
65.1
189.9
36.3

409.1
70.0
209.5
38.9

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
73.2
223.1
40.3

441.8
75.9
225.2
41.6

455.5
78.5
230.4
43.6

Services, total9
Household operation
Housing
Transportation

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

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

474.9
69.6
163.9
37.0

489.1
72.8
167.8
37.8

500.8
75.4
171.7
38.6

Gross private domestic investment, total...do

220.0

215.0

183.7

231.5

216.4

218.8

213.3

211.5

172.4

164.4

196.7

201.4

229.6

239.2

247.0

249.0
241.1
165.5
57.5
108.0

Fixed investment
Nonresidential
Structures
Producers' durable equipment

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

202.5
140.3
51.2
89.1

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

223.2
157.9
54.9
103.0

231.9
163.0
56.0
107.0

Residential
Change in business inventories
Nonfarm

do
do
do

66.1
17.9
14.7

55.1
10.7
12.2

51.2
-14.6
-17.6

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

65.3
16.0
17.3

68.9
15.1
15.6

75.6
7.9

Net exports of goods and services
Exports
Imports

do
do
do

7.1
101.6
94.4

7.5
144.4
136.9

20.5
148.1
127.6

12.7
115.0
102.3

15.0
133.2
118.2

3.9
142.2
138.3

2.9
148.4
146.5

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

9.3
160.3
151.0

4.7
167.7
163.0

5.2
165.6
160.4

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

269.5
102.2
73.5
167.3

303.3
111.6
77.3
191.6

339.0
124.4
84.3
214.5

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

362.0
131.2
86.9
230.9

369.6
134.5
88.5
235.0

376.8
138.9
91.3
238.0

do
do
__do
do
do
do

1,288.6
580.9
229.6
351.3
560.5
147.2

1,402.5
629.0
240.2
388.9
626.6
146.9

1,531.0
696.3
266.5
429.8
692.5
142.1

1,468.4 1,512.3 1,550.6 1,592.5 1,621.4 1,659.2 1,694.7
751.0
727.5
742.4
664.8
691.0
724.0
705.4
301.4
286.3
295.8
280.6
249.5
263.8
272.0
449.6
441.1
446.6
443.3
415.3
427.2
433.4
781.5
742.6
759.6
719.5
666.3
684.2
700.2
162.2
151.3
157.3
149.1
137.2
137.1
145.0

1,740.6
771.2
306.3
464.9
801.4
168.0

do
do
do

17.9
10.9
7.0

10.7
7.1
3.6

-14.6
-12.1
-2.6

15.1
6.8
8.3

7.9
8.5
-.5

bil.$.. 1,235.0

By major type of productrf
Final sales, total
Goods, total
Durable goods
Nondurable goods
Services
Structures

_

Change in business inventories
Durable goods
Nondurable goods

1,326.1 1,360.0 1,386.4 1,424.2 1,439.4
643.0
599.8
621.9
642.8
608.4
247.6
230.7
232.3
240.6
240.2
369.0
395.4
376.1 381.3
402.6
580.1 605.1
633.8
614.6
652.8
146.2
146.5
147.4
150.0
143.8
29.0
12.1
16.9

12.6
6.6
6.0

13.0
2.2
10.8

7.3
5.1
2.3

9.7
14.5
-4.7

-22.2
-15.4
-6.8

-30.0
-15.3
-14.7

-2.0
-7.0
5.0

-4.3
-10.6
6.3

14.8
-3.6
18.5

16.0
5.4
10.6

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

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

do.
do..
do..

1,161.1 1,177.1 1,209.3 1,219.2 1,246.3 1,260.0 1,272.2 1,281.5

1,214.0

1,191.7

767.7

759.1

770.3

765.9

761.8

761.9

764.7

748.1

754.6

767.5

775.3

783.9

800.7

808.6

815.7

826.6

121.8
309.3
336.5

112.3
303.5
343.4

111.9
306.1
352.4

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

125.2
317.6
365.8

126.2
318.9
370.6

127.0
325.5
374.2

1,242.6 1,230.4 1,220.8 1,212.9 1,191.7

207.2

182.0

137.8

211.8

194.8

187.9

176.2

169.1

129.3

126.2

148.7

147.0

167.1

171.7

175.2

173.7

Fixed investment
Nonresidential
Residential
Change in business inventories

do
do
do
do

190.7
131.0
59.7
16.5

173.5
128.5
45.0
8.5

149.8
111.4
38.4
-12.0

186.4
132.4
54.0
25.4

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

149.7
110.1
39.6
-1.0

152.5
110.5
41.9
-5.5

156.7
112.6
44.1
10.4

160.6
114.9
45.7
11.1

165.0
117.5
47.4
10.2

169.1
117.8
51.3
4.7

Net exports of goods and services

do

7.6

16.5

22.6

12.9

18.4

Gross private domestic investment, total...do

Govt. purchases of goods and services, total-do
256.4
252.5
255.4
261.0
252.0
Federal
do
96.6
95.3
95.7
95.3
94.3
State and local
do
155.9
165.2
161.1
157.7
160.1
r
Revised.
P Preliminary.
t Revised series. Estimates of national income and
product and personal income have been revised back to 1973 (see p. 24 ff. of the July 1976




15.7
15.3
16.0
16.6
23.1
22.8
24.3
14.9
14.9
17.7
20.1
265.5
265.8
263.6
261.9
265.2
256.1
262 A
257.1
259.1
257.1
256.9
97.3
98.1
96.0
95.4
95.6
97.2
94.7
95.8
95.3
94.8
95.4
167.7
168.2
167.7
166.6
166.9
168.0
161.4
161.3
163.8
162.2
161.5
SURVEY); revisions prior to May 1975 for personal income appear on p. 33 of the July
1976 SURVEY.
9 Includes data for items not shown separately.

S-l

SURVEY OF C U R R E N T B U SJLJNESIS

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

1973

|

1974

|

I

Annual total

in

II

1976

1975

1974

1975

January 1977

IV

I

II

III

1977

I

IV

II

in

IV v

I

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
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 investment
do
Nonresidential
..do
Residential
do
Govt. purchases of goods and services
Federal
State and local
National income, totalf

toll.

116.41
116.9
108.3
124.0
113.5

106.0
103.8
110.8

117.7
116.1
122.3

132.4
132.1
133.2

106.7
105.8
107.3

do.
.do.
do.

105.80
105.5
101.6
107.9
104.7

118.3
117.1
119.0

129.9
130.0
129.8

$.. 1,064.6

114.64
115.3
106.5
122.3
112.1

118.03
118.6
110.2
125.9
114.9

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

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

127. 25 111. 56
126.3
112.0
117.7
103.2
133.7
118.2
109.5
122.7

132.96
131.7
123.8
136.9
129.8

134.40
133.4
124.9
138.5
132.0

136.44
135.2
127.0
139.9
133.8

131.9
131.8
132.1

132.7
132.7
132.8

134.9
134.5
135.9

137.0
136.2
139.0

139.0
137.5
142.9

140.6
138.7
145.3

142.6
140.5
147.3

128.6
128.4
128.7

130.8
130.4
131.0

133.4
134.2
132.9

135.4
135.4
135.4

137.3
136.7
137.7

139.2
138.3
139.7

141.8
141.5
141.9

1,337.4 1,362.5

994.4 1,017.2 1,037.5 1,014. 5
921.0
881.1
897.8
861.5
197.0
188.7
191.7
185.4
724.0
692.4
706.1
676.1
143.5
136.2
139.6
132.9

775.6
161.1
614.4
113.3

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

85.0
24.6
60.4

86.0
23.8
62.2

85.5
23.3
62.2

81.1
17.9
63.2

24.1
62.7

95.5
29.2
66.3

97.2
28.3
69.0

93.2
21.9
71.4

100.3
27.5
72.8

96.1
21.7
74.4

97.1
20.3
76.8

20.9

20.6

21.0

21.5

21.9

22.3

22.4

22.9

23.3

23.1

23.4

24.3

91.6

95.7

87.8

81.7

74.1

69.0

86.6

105.3

105.6

115.1

116.4

122.0

97.0
12.9
84.1
46.4
17.2

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

125.0
13.8
111.2
66.4
30.7

130.5
14.4
116.0
67.2
29.6

6.0
11.2

7.9
6.2

5.7
14.6

6.4
9.0

6.3
10.1

5.7
11.0

5.0
5.5

7.3
6.3

9.5
6.5

9.7
6.4

8.6
7.7

9.5
6.8

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

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
22.3

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

146.2
63.5
82.7
34.4
48.3

10.7
7.2
150.2
65.1
85.1
35.4
49.7

-18.6
1.9
52.3

-39.8
-3.0
67.1

-11.4
-11.5
74.6

-30.4
2
59^4

-36.6
-1.9
65.9

-53.4
-3.5
70.0

-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

-14.4
-15.4
80.3

-12.6
-15.7
83.5

928.8
806.7
175.8
630.8
122.1

846.3
739.7
155.5
584.2
106.6

866.3
756.7
158.1
598.6
109.6

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

92.4
32.0
60.4

86.9
25.8
61.1

90.2
24.9
65.3

91.2
31.6
59.6

21.6

21.0

22.4

Corp. profits with inventory valuation and capital consumption adjustments, total toil. $..
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
bll. $Rest of the world
do..-

99.1

84.8

90.4
16.2
74.1
44.1
24.0

76.7
14.1
62.6
36.9
11.9

8.3
6.8

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

Inventory valuation adjustment
Caoital consumption adjustment
Net interest

131.29
130.3
121.8
136.4
128.0

904.0
785.8
170.0
615.7
118.2

875.8
764.5
160.4
604.1
111.3

_

130. 27
129.1
120.2
136.2
125.9

901.8
786.0
166.7
619.3
115.8

799.2
701.2
148.6
652.6
98.0

Profits before tax, total
Profits tax liability
Profits after tax
Dlvidends
Undistributed profits

125. 93 128.07
125.1
127.3
117.1
118.2
132.1
135.1
121.5
123.6

1,135.7 1,207.6 1,113.5 1,125.6 1,147.6 1,156.3 1,149.7 1,182.7 1,233.4 1,264.6 1,304.7

do
do
do
do....
do

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

121. 60 124.55
121.8
123.7
113.8
115.1
129.6
131.2
117.4
119.7

37.7

-20.0
-16.4
86.0

DISPOSITION OF PERSONAL INCOME f
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income, total
toil.
Less: Personal tax and nontax payments
Equals: Disposable personal income
Less: Personal outlays©
Equals: Personal saving^

1,422.1
1,109.7 1,136.8 1,172.5 1,194.1 1,203.1 1,230.3 1,265.5 1,299.7 1,331.3 1,362.0 1,386.0
205.3
189.5
195.8
183.8
179.8
142.2
174.0
167.4
179.3
174.5
178.3
161.3
969.5 998.0 1,015.8 L.023.8 1,088.2 1,091.5 1,119.9 1,147.6 1,172.5 1,190.2 1,216.9
948.4
983.6 1,011.1 1,036.2 1,068.0 1,089.6 1,114.3 1,144.0
935.0
956.7
930.4
875.8 901.6
72.9
82.9
75.8
79.5
104.5
80.5
83.7
67.8
67.2
80.8
67.6
72.6

$..

1,052.4
150.8
901.7
831.3
70.3

bll. $.
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

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
10.96
4.78
6.18

29.70
12.66
5.61
7.05

30.41
13.48
6.02
7.46

Nonmanufacturing _
Mining..
Railroad
Air transportation
Other transportation.,

do...
do.
do...
!do" 11
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

14.61
.68
.50
.47
.34

16.89
.78
.64
,61
.49

16.61
.80
.64
.43
.58

18.29
.91
.78
.48
.71

14.98
.91
.59
.44
.62

16.28
.97
.71
.47
.77

16.12
.94
.62
.50
.85

17.44
.97
.62
.43
.93

14.91
.92
.49
.26
.72

17.04
.99
.68
.42
1.02

16.93
1.04
.64
.26
.95

19.38
1.03
.54
.38
.90

16.45
1.02
.52
.32
.56

Public utilities
Electric.
Gas and other
Communication
Commercial and other

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

4.38
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

5.50
4.74
.76
3.21
5.21

5.52
4.54
.98
3.33
5.19

6.62
5.48
1.14

5.37
4.67
.70

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

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

127.87
56.23
25.23
31.00

129.38
56.99
25.52
31.47

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

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

71.64
4.03
1.98
1.51
3.34

72.38
4.22
2.22
1.45
2.67

20.16
17.47
2.68
14.01
22.84
interest

21.85
21.67
21.91
20.91
19.79
19.52
20.28
18.82
18.22
18.56
17.92
16.58
16.41
17.03
3.03
3.45
3.36
3.00
3.21
3.11
3.25
12.62
13.64
12.54
12.22
12.95
13.36
12.50
20.94
20.99
20.68
20.34 20.44
20.83
20.82
paid by consumers to business and personal transfer payments to

24.05
20.01
4.04

24.57
20.75
3.82

2 36.7,'

2 37. 26

do
do
do
do

1,153.3 1,249.7
170.4
168.8
982.9 1,080.9
910.7
996.9
72.2
84.0

NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
Manufacturing
Durable goods industries ^
Nondurable goods Industries 1

Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
_
Durable goods industries 1
Nondurable goods industries J__
Nonmanufacturing
Mining..
Railroad..
Air transportation
Other transportation

do...
do.."
do.
do...
do
do.
do.
.do.
do.

Public utilities
do.
20.97
20.12
Electric
do.
18.10
17.12
Gas and other
do
2.87
3.00
Communication
do
13.94
13.83
Commercial and other
do
21.63
21.69
•"Revised.
v Preliminary.
i Estimates (corrected for systematic biases) for Oct.uec. 19/6 and Jan.-Mar. 1977 based on expected capital expenditures of business. Expected
expenditures for the year 1976 appear on p. 29 of the December 1976 SURVEY.
2 includes
communication.
fSee corresponding note, on p. S-l.
9 Includes data for items not
snown separately.
©Personal outlays comprise personal consumption expenditures,




20.93
17.76
3.17
14.04
22.04

^&
Mar., June, Sept., and Dec. issues of the SURVEY.

K^S

i 35.26 »29. 07
12.62
15.88
5.65
7.19
6.96
8.69

2 8.67

foreigners (net).

ear in the

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