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SURVEY OF CURRENT BUSINESS

April 1979

11

NATIONAL INCOME AND PRODUCT TABLES
1977
1977

1978

1978

I

IV

II

1979

III

IV

I*

1977
1977

1978

Seasonally adjusted at annual rates

1978

I

IV

II

1979

III

IV

IP

Seasonally adjusted at annual rates

Billions of current dollars

Billions of 1972 dollars

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

,887.2

Personal consumption expenditures..

107.6

1,958.1 1,992.0 2,087.5 2,136.1 2,214.8 2,265.6 1,332.7

,206.5 1,340.1 1,255.2 1,276.7 1,322.9 1,356.9

[,403.9 1,444.7

857.7

,385.7 1,354.5 1,354.2 1,382.6 1,391.4 1.414.7 1,417.3
891.7

876.6

873.5

886.3

895.1

911.8

915.7

178.4
479.0
549.2

197.5
526.5
616.2

187.2
496.9
571.1

183.5
501.4
591.8

197.8
519.3
605.8

199.5
531.7
625.8

209.1
553.4
641.4

213.4
569.7
661.6

137.8
330.4
389.5

144.6
339.6
407.4

143.0
338.1
395.6

137.8
333.3
402.4

145.8
336.3
404.2

144.8
340.4
410.0

150.1
348.5
413.1

150.1
347.1
418.5

297.8

345.6

313.5

322.7

345.4

350.1

364.0

371.6

196.3

210.6

200.3

205.7

213.1

210.4

213.4

215.7

282.3

329.6

300.5

306.0

325.3

336.5

350.5

353.5

187.4

200.1

192.8

193.4

200.4

201.4

205.2

203.9

Nonresidential
Structures
Producers' durable equipment..

190.4
63.9
126.5

222.6
77.8
144.8

200.3
67.4
132.8

205.6
68.5
137.1

220.1
76.6
143.5

227.5
80.9
146.6

237.1
85.1
152.0

129.8
40.0
89.8

140.2
44.5
95.8

132.5
41.0
91.5

133.8
41.0
92.9

140.5
44.6
95.9

141.7
45.6
96.1

144.9
46.7
98.2

145.9
45.7
100.1

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

242.6
85.0
157.6
110.9

91.9
88.9
1.5
1.5

107.0
103.8
1.4
1.7

100.2
97.5
1.2
1.6

100.3
97.3
1.3
1.7

105.3
102.1
1.4
1.8

109.0
105.7
1.5
1.7

113.4
110.2
1.5
1.7

107.8
1.3
1.8

57.7
55.6
.9
1.2

59.8
57.7
.8
1.3

60.3
58.4
.7
1.2

59.5
57.4
.8
1.3

59.9
57.8
.8
1.4

59.7
57.6
.8
1.3

60.3
58.2
.8
1.3

58.1
56.1
.7
1.3

Change in business inventories.
Nonfarm
Farm

15.6
15.0
.6

16.0
16.7
-.8

13.1
10.4
2.7

16.7
16.9
-.2

20.1
22.1
-2.0

13.6
14.6

13.5
13.4
.1

18.1
19.6
-1.5

8.9
9.4
-.5

10.6
11.0
-.5

7.5
6.5
.9

12.3
12.5
-.1

12.7
13.9
-1.2

9.0
9.6
-.6

8.2
8.1
.1

11.8
12.6
-.8

Net exports of goods and services.

-11.1

-12.0

-23.2

-24.1

-5.5

-10.7

-7.6

-10.3

9.5

8.4

3.1

2.9

11.3

9.2

10.2

8.9

98.2
88.7

107.0
98.6

96.0
92.9

99.1
96.2

108.4
97.1

109.0
99.7

111.7
101.5

112.4
103.4

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

-..

175.5
186.6

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

204.8
216.8

172.1
195.2

181.7
205.8

205.4
210.9

210.1
220.8

221.9
229.5

394.0

433.9

412.5

416.7

424.7

439.8

454.5

459.4

269.2

275.0

274.5

272.1

271.9

276.7

279.4

277.0

145.1
94.3
50.8
248.9

Exports
Imports

229.0
239.2

153.8
99.5
54.3
280.2

152.2
97.1
55.1
260.3

151.5
97.9
53.6
265.2

147.2
98.6
48.6
277.6

154.0
99.6
54.5
285.8

162.5
102.1
60.4
292.0

164.7
103.9
60.8
294.8

101.6

100.3

103.6

101.2

97.1

100.4

102.5

102.1

167.6

174.7

170.9

170.8

174.8

176.3

176.9

174.9

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
1,887.2 2,107.6 1,958.1 1,992.0 2,087.5 2,136.1 2,214.8 2,265.6 1,332.7 1,385.7 1,354.5 1,354.2 1,382.6 1,391.4 1,414.7 1,417.3

Gross national product..
Final sales
Change in business inventoriesGoods..
Final sales.
Change in business inventories.
Durable goods
Final sales
Change in business inventories.
Nondurable goods
Final sales
Change in business inventories.
Services....
Structures.

1,871.6 2,091.6 1,945.0 1,975.3 2,067.4 2,122.5 2,201. 3 2,247.4 1,323.8 1,375. 2 1,347.1 1,341.8 1,369.9 1L.382.4 1,406.5 1,405.5
11.8
9.0
12.3
12.7
18.1
10.6
7.5
15.6
16.0
13.1
20.1
13.6
13.5
16.7
8.9
8.2
651.4
629.7
627.7 630.2
611.8
832.6
918.4
608.4
912.2
927.3
972.5 1,000.7
620.1
859.6
861.8
649.1
639.7
615.0 621.2
982.6
599.4
817.0
902.4
619.1
612.7
892.1
913.7
599.6
846.5
845.1
958.9
640.9
11.8
9.0
12.3
18.1
12.7
10.6
8.9
7.5
15.6
13.6
13.5
16.0
20.1
13.1
16.7
8.2
283.3
266.6 264.8
421.8
265.4
254.6
253.7
255.1
341.3
351.2
380.1
400.1
376.8
347.4
375.8
275.5
270.1
245.0
260.2 258.7
399.3
258.1
250.5
369.8
389.2
365.1
341.1
336.3
332.9
365.0
248.0
268.4
13.1
6.1
22.4
6.4
7.3
10.2
4.6
8.4
10.8
11.7
6.3
10.8
5.8
7.1
14.8
368.2
373.6
357.2
361.2 365.4
364.3
365.0
547.2
572. 4 579.0
354.7
491.3
541.7
512.2
536.4
510.6
369.5
372.5
354.5
583.2
354.8 362.5
543.9
361.1
362.1
484.1
537.4
527.1
569.7
351.6
505.4
508.7
-1.3
2.9
-4.3
1.1
2.7
6.3
3.3
3.4
2.9
4.3
9.3
2.7
3.1
1.9
6.8
7.2
638.0
632.6
625.6 629.7
627.0
620.1
973.7
609.6
952.0
962.5
893.6
997.7 1,025.2
602.9
926.4
127.9
133.0
129.3 131.6
239.6
122.3
223.4
235.0
129.0
124.8
244.7
226.7
121.3
204.9
203.8
191.8

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
Residual1
Households and institutions. .
Government
Federal
State and local.
Rest of the world.

1,887.2 2,107.6 1,958.1 1,992.0 2,087.5 2,136.1 2,214.8 2,265.6 1,332.7 1,385.7 1,354.5 1,354.2 1,382.6 1 ,391.4 1,414.7 i.417.3
1,869.9 2,088.2 1,942.2 1,973.8 2,066.5 2,117.3 2,195.1 2,244.3 1,325.3 1,377.9 1,347.9 1,346.6 1,373.9 1 ,383.9 1,407.0 1,409.3
,
., 599.3 1,790. 2 1,660.4 1,684.1 1.771.8 1,817.5 1,887. 4 1,930.2 1,135.9 1,183. 7 1,155.9 1,153.5 , 180.0 1, 189.3 1,212.1 1,214.1
___ 1,544.0 1,730. 5 1,601.6 1,628.9 1.714.9 1,758.5 1,819. 9
1,094.2 1,146.0 1,112.4 1,115.4 1,145.2 1 , 151.8 1,171. 5 1,175.4
998.1 1,026.5 1,031.7 1,050.0 1,052.5
1,026. 6
980.5
996.4
1,397.8 1,566. 3 1,449.0 1,471.7 1,553.2 1,592.0 1,648.1
122.9
175.9
118.6 120.1
121.5
117.4
119.4
113.6
116.0
157.1
166.5
161.7
171.7
164.3
152.7
146.2
33.2
31.9
66.9
30.5
32.5
33.8
32.5
34.4
53.0
58.6
36.1
56.4
63.2
57.8
54.0
50.5
2.2
.4
.5
4.3
2
1.8
4.8
4.7
6.8
4.3
6.8
7.4
4.3
7.3
5.5
5.2
76.9
45.5
45.2
44.3
44.9
42.2
43.6
74.4
43.8
72.3
62.7
70.5
44.5
71.5
68.8
65.9
149.7
149.8
149.6 149.8
149.4
148.4
147.2
149.6
237.2
208.0
224.1
227.5
233.4
215.9
221.0
226.5
48.8
48.9
49.0
48.8
48.8
48.8
48.7
48.9
74.6
70.5
74.0
66.4
70.1
69.5
69.9
71.1
100.9
100.9
100.8 100.8
100.6
162.6
98.4
100.8
157.0
159.4
141.5
154.1
155.4
146.4
151.1
17.3

19.4

15.9

18.2

21.1

18.8

19.8

21.3

7.3

7.9

6.6

7.5

8.8

7.5

7.7

8.0

v Preliminary.
Footnotes for tables 2 and 3 on following page.
NOTE.—Fourth quarter 1978 corporate profits and related totals are revised. This applies to all tables that contain corporate profits or related items.

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
003-010-00052-9, 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 July 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.
OF CURRENT BUSINESS.

1976
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are a s shown in
the 1975 edition of BUSINESS STATISTICS

1977

1978

1976

I

II

1978

1977

III

IV

I

II

III

IV

I

II

1979

III

IV

Annual total
Seasonally adjusted quarterly totals at annual rates

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

bil.$.

Personal consumption expenditures, total..do

1,700.1

1,887.2 2,107.6 1,649.7 1,685.4 1,715. 6 1,749.8 1,806.8 1,867.0 1,916.8 1,958.1 1,992.0

2,087.5 2,136.1 2,214.8

2.265.6

1,090.2

1,206.5 1,340.1 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 1,356.9 1, 403. 9

1.444.7

Durable goods, total?
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

156. 6
69.7
63.9

178.4
81.5
71.3

197.5
89.7
77.7

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

199.5
89.8
78.9

209.1
92.6
83.2

213.4
96.4
83.6

442.6
75.7
225.8
42.8

479.0
81.5
245.2
46.5

526.5
89.0
269.4
51.2

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

531.7
90.5
272.0
51.5

553.4
95.3
279.9
55.8

569.7
94.0
290.3
59.8

Services, total 9
Houshold operation
Housing
Transportation

491.0
72.8
166.4
37.9

549.2
81.6
184.6
44.2

641.4
91.3
207.3
52.6

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
92.6
210.1
53.7

641.4
94.1
217.0
55.0

661.6
97.1
222.5
51.3

243.0

297.8

345.6

231.5

243.5

249.9

247.1

272.5

295.6

309.7

313.5

322.7

345.4

350.1

364.0

371.6

306.0
205.6
68.5
137.1

325.3
220.1
76.6
143.5

336.5
227.5
80.9
146.6

350.5
237.1
85.1
152.0

353.5
242.6
85.0
157.6

-

-do
do
do
do

Gross private domestic investment, totaL...do
Fixed investment
Nonresidential
Structures
Producers' durable equipment

do
do
do
do

232.8
164.6
57.3
107.3

282.3
190.4
63.9
126.5

329.6
222.6
77.8
144.8

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

Residential
Change in business inventories
Nonfarm

do
do
do

68.2
10.2
12.2

91.9
15.6
15.0

107.0
16.0
16.7

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

109.0
13.6
14.6

113.4
13.5
13.4

110.9
18.1
19.6

Net exports of goods and services
Exports
Imports

do
do
...do

7.4
163.2
155.7

-11.1
175.5
186.6

-12.0
204.8
216.8

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

-10.7
210.1
220.8

-7.6
221.9
229.5

-10.3
229.0
239.2

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

359.5
129.9
86.8
229.6

394.0
145.1
94.3
248.9

433.9
153.8
99.5
280.2

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

439.8
154. 0
99.6
285.8

454.5
162.5
102.1
292.0

459.4
164.7
103.9
294.8

1,871.6 2,091. 6 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 2,122. 5 2, 201. 3
972.5
927.3
861.8
844.7
859.6
741.9
772.9
758.0
768.1
800.2
825.8
912.2
832.6
918.4
400.1
380.1
351.2
347.4
288.6
315.6
346.5
301.8
312.4
332.2
339.1
375.8
341.3
376.8
572.4
547.2
510.6
512.2
453.4
457.3
456.2
455.7
468.0
486.7
498.2
536.4
491.3
541.7
997.7
973.7
926.4
893.6
749.7
808.1
766.9
787.1
832.3
850.0
952.0
875.3
862.8
962.5
244.7
235.0
203.8
204.9
158.1
168.7
160.5
160.3
174.3
191.3
223.4
191.8
196.8
226.7

2,247.4
1,000. 7
421.8
579.0
1,025.3
239.6

13.5
10.8
2.7

18.1
22.4
-4.3

1,382.6 1,391.4 1,414. 7

1,417.3

By major type of product: t
Final sales, total
Goods, total
Durable goods
Nondurable goods
Services
Structures
Change in business inventories
Durable goods
Nondurable goods

do
do
...do
do
do
do

1,689.9
760.3
304.6
455.7
778.0
161.9

do
do
do

10.2
5.3
4.9

15.6
8.4
7.2

16.0
11.7
4.3

11.4
.1
11.3

15.4
6.5
8.9

14.5
9.3
5.3

-.6
5.2
-5.8

10.3
6.1
4.2

17.0
9.1
7.9

21.9
11.9
10.0

13.1
6.3
6.8

16.7
14.8
1.9

20.1
10.8
9.3

13.6
10.2
3.4

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

bil.$_. 1,271.0

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

do
do

Services

do

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

1,332.7 1,385.7 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

895.1

911.8

915.7

819.4

857.7

891.7

806.3

814.0

820.9

836.2

846.6

849.5

858.0

876.6

873.5

886.3

125.9
320.2
373.2

137.8
330.4
389.5

144.6
339. 6
407.4

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

144.8
340.4
410.0

150.1
348.5
413.1

150.1
347.1
418.5

173.4

196.3

210.6

168.5

174.7

177.1

173.4

186.1

197.1

201.7

200.3

205.7

213.1

210.4

213.4

215.7

166.8
118.9
47.8
6.7

187.4
129.8
57.7
8.9

200.1
140.2
59.8
10.6

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

201.4
141.7
59.7
9.0

205.2
144.9
60.3
8.2

203.9
145.9
58.1
11.8

15.4

9.5

8.4

16.5

16.1

16.1

13.1

11.2

11.0

12.5

3.1

2.9

11.3

9.2

10.2

8.9

264.3
96.2
168.1

263.2
95.9
167.3

262.5
96.8
165.7

261.3
97.5
163.8

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

276.7
100.4
176.3

279.4
102.5
176.9

277.0
102.1
174.9

262.8
96.6
166.2

269.2
101.6
167.6

275.0
100.3
174.7

••Revised.
v Preliminary.
^Revised 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

262.8
98.7
164.1

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.
9 Includes data for items not shown separately.

S-l
290-552 O - 79 - SI




SlJNli
CUK KJfiJN'JL 1 3 U

$ U 1 CV-EI

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

1977

1976

1976

1978

II

Annual total

in

April 1979

1977

IV

I

II

1978

in

IV

1979

II

I

III

IV

I

II

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCTf—Con.
Quarterly Data Seasonally Adjusted

Implicit price deflators:t
Gross national product
Index 197?=inn
do
Personal consumption expenditures
do
Durable goods
Nondurable goods
.do -.
do
Services
Gross private domestic investment:
Fixed investment
do
do
Nonrpsidential
Residential
Govt. purchases of goods and services do
Federal
dr»
Ho
State and local

133.76
133.1
124.4
138.2
131.6

141.61
140.7
129.5
145.0
141.0

152.09
150.3
136.5
155.0
151.2

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

142.63
141.6
129.5
145.7
142.3

144. 56
143.2
130.9
147.0
144.4

147.10
146.2
133.1
150.4
147.1

150.98
149.3
135.7
154.4
149.9

153.52
151.6
137.3
156.2
152.6

156.56
154.0
139.3
158.8
155.2

159.85
157.8
142.2
164.1
158.1

139.6
138.4
142.5

150.6
146.7
159.4

164.7
158.7
178.8

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

167.1
160.6
182.6

170.8
163.7
188.2

173.3
166.3
191.0

136.8
134. 4
138.1

146.3
142.7
148.5

157.8
153.3
160.4

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
153.4
162.1

162.7
158.5
165.1

165.9
161.3
168.6

Quarterly Data Seasonally Adjusted at Annual Rates
National income, totalf
"Hii $ 1,359.2 1, 515. 3 1, 703.8 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 1,728.4

1,795.6

1,036.8 1,153.4 1,301.4 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 1,317.1
Compensation of employees total
do
890.1
983.6 1,101.0
881.5
897.3
919.9
946.4
973.4
993.6 1,021.2 1,050.8 1,090.2 1,113.4
Wages and salaries, total
do
187.6
200.8
216.1
186.1
188.1
192.6
195.2
198.1
201.7
208.1
211.4
213.9
216.8
do
Govt and govt. enterprises
An
702.5
782.9
884.8
695.4
709.2
727.2
751.2
775.3
791.9
813.1
839.3
876.3
896.6
Other
146.7
169.8
200.5
144.6
148.8
153.4
161.5
167.1
172.2
178.4
190.2
197.6
203.6
Supplements to wages and salaries
.do
Proprietors' income with inventory valuation
and capital consumption adjustments,
87.4
99.8
110.1
95.6
97.2
107.3
114.5
88.6
89.5
105.0
88.8
98.9
total
wi *
113 2
24.0
25.0
20.2
19.6
16.9
16.3
19.4
20.0
16.5
25.1
21.9
18.4
25.3
Farm
-do—
86 1
89 6
on q
Nonfarm
do
70.2
87.8
73. 2
Rental income of persons with capital consump22.2
24.3
22.7
22.5
22.8
22.4
22.4
22.4
22.4
22.5
tion adiustrnent
bil $
23 4
22.5
22.8
Corp. profits with inventory valuation and capi163.4
165.2
132.6
148.2
130.0
143.7
154.8
128.6
129.9
122.5
144.2 ' 159.5
tal consumption adjustments, total bil. $—
127.0
Corp. profits with invent, val. adj.:
n
r
175.4
168.9
155.6
139.2
148.1
159.5
136.3
135.4
134.8
128.7
149.5 167 7
Domestic total
*^
133.2
18.3
19.7
19.9
21.9
21.9
22.7
24.3
26.0
17.0
19.1
20.9
17.5
25.1
Financial--.
—
-do—
144. R
14Q A
128.6 '142.6
-do.... 115.6
128.1
137.6
Nonfinancial, total 9
118.4
118. 0 109.7
116.6
115.1
87.1
87.8
80.2
Manufacturing, total 9
— -do—
74.7 '85.0
61.9
77.4
74.7
65.6
67.5
65.9
69.8
66.4
44.6
46.1
28 1

35.1

'43 2

29.7

28.5

26.9

29.9

37.2

34.2

39.1

13.7
82

16.1
9.6

19.5
9g

14.3
7.6

14.9
8.2

13.3
8.2

15.4
9.7

14.5
10.4

17.5
10.3

-do...dodo
-do—

155.9
64.3
91.7
37.9
53.8

173.9
71.8
102.1
43.7
58.4

' 202.0
83.9
118.2
49.3
'68.8

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
50.8

164.8
68.3
96.5
41.5
55.0

175.1
72.3
102.8
42.7
60.1

-do—
-do—

-14.5
-14.4
84.3

-14.8
—14.9
95.4

-24.4
-18.1
106.3

-15.7
-14.4
82.0

-13.3
-14.5
86.2

-17.6
-14.5
88.9

-20.3
-14.6
91.7

-16.6
-14.8
93.7

Durable f?oods

Transportation, communication, and
electric, gas, and sanitary serv bil. $..
Rest of the world
^n
Profits before tax, total
_
Profits tax liability
Profits after tax
Dividends
Undistributed profits. _
Inventory valuation adjustment
Capital consumption adjustment
Net interest

n

DISPOSITION OF PERSONAL INCOMEf
Personal income total
*"i * 1,380.9 1,529. 0 1,708.0 1,363. 2 1, 392. 8
200.0
192.6
226.0
256.2
196.5
Less: Personal tax and nontax payments
do
1,184.4 1,303.0 1,451.8 1,170.6 1,192.8
Equals: Disposable personal income
..do
1,116. 3 1,236.1 1,374. 9 1,100.7 1,124. 8
Less: Personal outlays©
_
do
68.0
66.9
76.9
69.9
68.1
Equals: Personal saving §
.do—
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
bil. $
30.41
120.49
135.80 153 82 29.70
60.16
13.48
Manufacturing
do . 52.48
67 62 12.66
6.02
5.61
23.68
27.77
31.66
Durable goods industries!!
do
7.46
7.05
28.81
32.39
35.96
Nondurable gcods industries^.
do
16.93
17.04
68.01
75.64
Nonmanufacturing
do
86.19
1.04
.99
4.00
4.50
Mining
do .
4 78
.68
.64
2.52
2.80
do
3 32
Railroad. .
.26
.42
1.30
1.62
Air transportation
.do-2.30
3.63
2.51
1.02
.95
do
2.43
Other transportation
22.28
Public utilities.
5.50
5.52
25.80
.do.—
29.48
18.80
21.59
4.74
4.54
24 79
Electric
.98
3.47
.76
4.21
4.70
Gas and other
.do—
3 33
q 9|
.do
13.30
15.45
18.16
Communication
5.19
5.21
do . 20.99
22.97
25.71
Commercial and other
Seas. adj. qtrly. totals at annual rates:
118.12 122.55
All industries...
do
50.64
54.78
Manufacturing
_
_do-22. 54 24.59
do
Durable goods industriesif
28.09
30.20
do
Nondurable goods industries^
67.76
67.48
Nonmanufacturing .
do
4.21
3.83
do
Mining
2.64
2.69
do
Railroad .
1.44
1.12
do
Air transportation
4.16
3.44
do
Other transportation
21.85
21.67
Public utilities
do
18.82
18.22
do
Electric
3.03
3.45
Gas and other
.do—
•tO CA
.do
Communication
20.99
20.94
.do..Commercial and other
r
Revised.
* Preliminary.
i Estimates (corrected for systematic biases) for Jan.Mar. 1979 and Apr.-June 1979 based on expected capital expenditures of business. Expected
expenditures for the year 1979 appear on p. 26 of the Mar. 1979 SURVEY. 2 Includes communication.
fSee corresponding note on p. S-l.
9 Includes data for items not shown
separately.
® Personal outlays comprise personal consumption expenditures, interest paid




1,359.8 1,405.9
1,149.4 1,184.5
222.3
225.1
927.1
959.5
210.4
221.4

123.0
30.4
92 6

123.7
30.6

24.4

24.7

' 176.6
'187.4
27.6
95.2
49.2

17.1
7.9

32.8
17.3
9.4

19.3
11.7

20.7
9.1

20.8
9.1

177.5
72.8
104.8
44.1
60.6

178.3
73.9
104,4
46.3
58.1

172.1
70.0
102.1
47.0
55.1

205.5
85.0
120.5
48.1
72.4

205.4
86.2
119.2
50.1
69.2

' 224.9
'94.4
'130.5
51.9
'78.6

-7.7
—15.0
97.3

-14.8
—15.3
99.0

-23. 5
—16.1
101.7

-24.9
17 2
104.6

-20.9

-28.4

10 1
107.4

111.4

54.6
-40.3
—20.7
114.2

1,430.5 1, 470. 7 1, 508. 6 1, 543. 7 1, 593. 0 1,628.9 1,682.4 1,731.7 1, 789. 0 1,834.1
263.2
249.1
233.3
275.1
237.3
270.6
223.3
224.6
222.7
209.0
1,221. 5 1,248.0 1,285.3 1,319.1 1,359.6 1,391.6 1,433.3 1,468.4 1,513. 9 1,563.5
1,160.9 1,195.8 1,217. 8 1,244.8 1,285.9 1,309.2 1,357.0 1,392.5 1,440.9 1,482.6
7R n
60.7
52.2
67.5
74.3
73. 7
82.4
80.9

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

38.67
16.89
7.97
8.92

44 91
20.30
9.53
10.77

i 36.97
15.97
7.57
8.40

i 42. 07
18.91
9. 20
9.72

19.14
1.05

16.68
1.02

18.88
1.16

19.21
1.17

20.87
1.15

18.68
1.07

21.13
1.22

24.61
1.26
.94
.64
.71

21.00
1.28

23.16
1.23

.70
.35

.59
.33

.94

.61

.43
.76

6.46
5.34
1.12

5.55
4.78
.77

6.37
5.34
1.03

.67

.78
.39

.76
.46

.71
.52

.83
.60

.50

.63

.51

.60

21.78
1.24
.84
.54
.62

7.28
6.06
1.21
4 26
6.33

6.15
5.27
.88
3 97
5.76

7.14
6.01
1.13
4 56
6.18

7.43
6.11
1.32
4 68
6.43

8.78
7.40
1.37
4 96
7.34

.80
.64

.62

8.00
6.78
1.22
2 10. 53 2 11.63
7.12
6.16

5.78

5.27

5.64

6.61
5.41
1.20
4 03
5.73

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

155.41
67.75
32.25
35.50

163.96
73.24
33.99
39.26

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

87.66
4.99
3.38
2.20
2.47

*G0. 71
4.98
3.49
2.39
2.55

164.23
71.97
34.18
37.78
92.26
5.35
3.77
3.28
3.01

23.46
19.49
3.96
14 30
21.36

25.35
21.19
4.16
14 19
22.67

25.29
21.14
4.16
15 32
22.73

26.22
21.90
4.32

26.23
22.05
4.18
15 82
23.27

27.92
23.15
4.78
17 07
24.76

28.46
23.83
4.62
18 18
24.71

29.62
24.92
4.70
18 90
26.09

31.73
26.95
4.78
18 46
27.12

32.30
27.06
5.24
2 44.54

q QA

q oft

q oa

1fi At)

23.14

.83
.68
.77

.97

167.52
75.90
37.09
38.81
91.62
4.89
3.11
2.36
2.89
31.91
26.92
4.98
2 46.46

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