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August 1977

SURVEY OF CUEEENT BUSINESS

NATIONAL INCOME AND PRODUCT TABLES
1977

1976
1975

1976

I

II

III

IV

I

1976
II

1975

1976

I

II

Seasonally adjusted at annual rates

1977
III

IV

I

II

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)
1,528.8 1,706.5 1,651.2 1,691.9 1,727.3 1,755.4 1,810.8 1,869.7 1,202.1 1,274.7 1,256.0 1,271.5 1,283.7 1,287.4 1,311.0

Gross national product
Personal consumption expenditures..

775.1

821.3

807.2

815.5

822.7

132.9
409.3
438.2

Durable goods
Nondurable goods.
Services

980.4 1,094.0 1,056.0 1,078.5 1,102.2 1,139.0 1,172. 4 1,194.0
158.9
442.7
492.3

153.3
430.4
472.4

156.7
437.1
484.6

159.3
444.7
498.2

166.3
458.8
513.9

177.0
466.6
528.8

112.7
307.6
354.8

127.5
321.6
372.2

125.4
316.1
365.6

126.7
319.3
369.6

127.1
321.5
374.0

178.6
474.4
541.1

1,330.6

850.4
130.7
329.4
379.7

854.1

136.9
329.7
383.8

137.9
330.0
386. 3

189.1

243.3

231.3

244.4

254.3

243.4

271.8

294.9

141.6

173.0

168.1

175.2

179.4

169.2

186.7

197.2

200.6

230.0

216.8

226.1

232.8

244.3

258.0

273.2

151.5

164.5

158.4

163.1

165.6

171.0

177.0

184.0

Nonresidential
Structures
Producers' durable equipment..

149.1
52.9
96.3

161.9
55.8
106.1

155.4
54.7
100.8

159.8
55.8
104.0

164.9
56.0
109.0

167.6
57.0
110.6

177.0
57.9
119.2

182.4
61.0
121.4

112.7
36.3
76.5

116.8
37.1
79.7

113.7
36.8
76.8

115.9
37.1
78.9

118.5
37.1
81.4

119.0
37.3
81.7

124.3
37.0
87.3

126.4
38.2
88.1

Residential
Nonfarm structures
Farm structures
Producers' durable equipment..

51.5
49.5
.9
1.1

68.0
65.7
1.0
1.3

61.4
58.9
1.2
1.2

66.3
64.1
1.0
1.2

67.8
65.7
.9
1.3

76.7
74.3
1.1
1.3

81.0
78.5
1.1
1.4

90.8
88.2
1.2
1.4

38.8
37.1
.7
.9

47.7
46.0
.7
1.0

44.8
42.9
.9
1.0

47.1
45.4
.7
1.0

47.1
45.4
.6
1.0

52.0
50.2
.7
1.1

52.7
50.9
.7
1.1

57.6
55.7

-11. 5
-15.1
3.6

13.3
14.9
-1.6

14.5
15.9
-1.4

18.3
20.4
-2.2

21.5
22.0
-.5

1.4
-2.3

13.8
14.1
-.3

21.7
22.4
-.7

-9.9
-11.2
1.2

8.5
10.1
-1.6

9.7
11.1
-1.4

12.1
14.3
-2.1

13.8
14.4
-.6

-1.8
.7
-2.5

9.7
9.9
-.2

13.2
13.6

Gross private domestic investment..
Fixed investment

Change in business inventories.
Nonfarm
Farm

20.4

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

7.8

10.2

10.2

7.9

3.0

-8.2

-9.8

22.5

16.0

16.8

16.4

17.0

13.8

10.6

9.3

147.3
126.9

162.9
155.1

153.9
143.7

160.6
150.4

168.4
160.6

168.5
165.6

170.4
178.6

89.9
67.4

95.8
79.8

93.1
76.3

95.2

97.9 I
80.9 ,

96.9
83.1

96.9
86.3

98.5
89.2

338.9

361.4

353.6

358.9

363.0

370.0

374.9

178.0
187.8
390.6

263.0

264.4

263.9

264.6 ! 264.6

263.3

270.0

123.3
83.9
39.4
215.6

Net export of goods and services

130.1
86.8
43.3
231.2

127.6
86.3
41.3
225.9

128.5
86.0
42.5
230.4

130.2
86.4
43.8
232.7

134.2
88.4
45.8
235.8

136.3
89.7
46.7
238.5

143.6
93.4
50.2
247.0

96.7

96.5

96.4

97.1

97.0

101.1

166.3

167.9

167.5

167.5

166.4

78.9
264.5
96.1
168.4

96.7 I
168.0

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

1,528.8 1,706.5 1,651.2 1,691.9 1,727.3 1,755. 4 1,810.8 1,869.7 1,202.1 1,274.7 1,256.0 1,271.5 1,283.7 1,287.4 1,311.0

1,330.6

Final sales
Change in business inventories.
Goods
Final sales
Change in business inventories.

1,540.3 1,693.1 1,636. 7 1,673. 7 1,705. 8 1, 756.3 1, 797. 0 1,848. 0 1,212. 0 1, 266.2 1, 246.3 1, 259.4 1, 269. 8 1, 289.2 1,301.2
12.1
-1.8
-11.5
13.8
13.8
-9.9
13.3
14.5
21.5
-.9
21.7
9.7
18.3
8.5
9.7
602.4
538.8
571.8
579.8
581.9
827.1
586.9
686.2
764.2
744.6
774.7
805.9
580.1
761.7
776.0
583.7
592.7
562.1
573.0
805.4
567.6
697.7
792.1
548.7
571.6
750.9
730.0
754.5
775.6
743.4
-1.8
13.8
9.7
9.7
12.1
13.8
21.7
8.5
-11.5
21.5
-9.9
13.3
14.5
-.9
18.3

1,317.4
13.2
608.5
595.3
13.2

Durable goods
Final sales
Change in business inventories.

258.2
267.5
-9.2

303.4
299.3
4.1

285.6
287.6
-2.0

301.9
294.9
7.0

313.4
302.7
10.7

312.6
312.0
.6

334.4
326.6
7.8

341.0
329.5
11.5

212.0
219.2
-7.2

235.2
232.4
2.8

227.0
228.1
-1.2

235.9
230.9
5.0

240.8
233.5
7.2

237.0
237.0
.1

252.3
246.7
5.6

254.7
247.4
7.3

Nondurable goods
Final sales
Change in business inventories.

428.0
430.2
-2.2

460.9
451.6
9.3

459.0
442.4
16.6

459.7
448.5
11.2

462.6
451.8
10.9

462.1
463.6
-1.6

471.5
465.6
6.0

486.1
475.9
10.2

326.8
329.5
2. 7

344.9
339.3
5.7

344.9
334.0
10.8

343.9
336.8
7.1

346.1
339.5
6.6

344.8
346.7
-1.9

350.1
346.0
4.2

353.8
347.9
5.8

699.2
143.5

782.0
160.2

751.6
155.0

770.8
159.4

791.8
159.6

813.8
166.9

833.7
171.2

855.2
187.5

560.7
102.7

584.7
109.9

575.4
108.7

581.7
110.1

587.9
108.8

593.6
111.9

597.1
111.5

602.8
119.3

1,528.8 1,706.5 1,651.2 1,691.9 1,727.3 1,755.4 1,810.8 1,869.7 1,202.1 1,274.7 1,256.0 1,271.5 1,283.7 1,287.4 1,311.0

1,330.6

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..
Residual1
Households and institutionsGovernment
Federal
State and local..
Rest of the world.

1,518.3 1,692.1 1,637.0 1,678.4 1,712.0 1,740.9 1,793.2 1,851.4 1,197.3 1,268.0 1,249.2 1,265.1 1,276.7 1,280.9
1, 289. 6 1,444. 3 1,395.8 1,433.3 1,463. 0
1,234. 6 1,390.9 1,343.1 1,378. 0 1,409.4
1,115.1 1, 258.7 1, 215.6 1, 247. 0 1, 275.4
119.5
132.3
127.5
130.9
134.0
49.2
47.9
48.6
50.9
45.6
5.9
5.5
4.2
4.5
8.0

1,303.3 1,322.8

485. 2 1,532.3 1, 586. 4 1,013.7 1, 082. 0 1, 064. 2 1,079.3 1,090.5 1,093.9 1,116. 2 1,134. 9
433.4 1,478.0 1, 536. 3 974.3 1,043. 8 1,026. 4 1,042. 5 1,051. 2 1,054. 8 1,077. 8 1,099. 5
296. 8 1,337. 4 1, 392. 2 870.5
966.7
987.5
941.6
944.7
934.9
919.3
934.0
103.7
136.5
140.6
111.1
112.1
109.6
110.2
108.8
107.1
108.5
144.1
33.8
46.4
51.0
35.1
34.9
32.2
34.1
33.0
33.3
32.3
50.8
5.3
3.3
-.7
.5
3.4
4.5
4.9
7.0
5.6
5.2
4.5

50.4

56.2

54.4

55.5

56.4

58.3

60.4

62.0

38.9

40.2

40.1

40.3

40.0

40.6

40.6

41.2

178.2
59.0
119.2

191.6
62.4
129.2

186.8
61.4
125.4

189.6
61.6
128.1

192.6
61.8
130.7

197.5
64.7
132.8

200.5
65.4
135.1

203.1
65.5
137.6

144.6
48.5
96.1

144.9
48.3
96.6

145.5
48.3
97.2

146.5
48.6
97.9

146.7
48.6
98.1

14.4

14.2

13.5

15.3

14.4

17.6

18.3

4.9

6.8

6.4

146.2
48.5
97.7
7.0

146.4
48.6
97.8

10.5

145.8
48.4
97.3
6.7

6.5

7.7

7.8

HISTORICAL STATISTICS
The national income and product data for 1929-72 are in The Documents; see addresses inside front cover). Data for 1973 and
1974-76 are in the July 1976 and July 1977 issues of the SURVEY,
Statistical Tables (available for $4.95, SN 003-010-00052-9, from respectively (except for seasonally unadjusted quarterly estimates,
Commerce Department District Office or the Superintendent of which are in the September 1976 and August 1977 issues).
National Income and Product Accounts of the United States, 1929-74:




CURRENT BUSINESS STATISTICS

1HE 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 quarter^, 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.

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

1975

1974

1976
II

III

1975
IV

I

II

1977

1976
III

IV

I

II

III

IV

I

II r

Annual total
Seasonally adjusted quarterly

totals at annual rates

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

bil.$__.

Personal consumption expenditures, total..do

1,412.9

1,528.8

1,706.5

889.6

980.4 1, 094.0

1,400.1

1,430.1

1,452.4

1,453.0

1,496.6

1,564.9

1,600.7

1,651.2

1,691.9

1,727.3

1,755.4 1,810.8 1,809. 7

879.2

909.0

916.2

936.5

965. 9

995.1 1, 024.1 1,056.0 1,078.5 1,102. 2 1,139.0 1,172.4 1,194. 0

Durable goods, total?
Motor vehicles and parts
Furniture and household equipment
Nondurable goods, total 9
Clothing and shoes
Food
Gasoline and oil

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

122.0
48.0
54.9

132.9
53.9
58.0

158.9
71.9
63.9

122.1
47.9
55.0

127.7
52.3
56.1

118.7
44.8
54.7

122.8
48.0
54.8

127.8
49.9
57.4

136.7
56.5
58.7

144.3
61.3
61.0

153.3
68.8
61.9

156.7
71.0
63.0

159.3
72.1
63.9

166.3
75.7
66.5

177.0
85.3
67.4

178. 0
84.5
09.3

376. 3
65.3
189.8
36.4

409.3
70.2
209. 5
39.1

442.7
76.3
225.5
41.4

372.1
65.4
186.0
36.6

383.9
66.4
193. 8
38.0

388.5
65.0
198.1
39.2

394.0
66.6
202. 6
38.2

406.4
69.8
207. 9
39.1

415.0
71.5
212.1
39.1

421.9
73.0
215.4
39.8

430.4
74.2
219.3
40.6

437.1
74.3
223.8
40.3

444. 7
76.9
227.0
41.2

458.8
79.9
232.0
43.5

400. 0
79.3
237. 9
44.1

474.4
80.4
244.8
44.3

Services, total 9
Household operation
Housing
Transportation

do.
do.
do
do.

391.3
56.1
136. 5
30.7

438.2
64.2
150.8

492.3
73.0
167.9
36.8

385.0
55.4
134.6
30.5

397.4
57.2
138.2
31.1

408.9
59.3
141.7
31.6

419.7
61.4
145.1
31.6

431.7
63.7
148.5
31.6

443.4
65.3
152.4
32.2

457.9
66.3
157.2
33.2

472.4
69.5
161.5
34.8

484.6
70.4
166.2
36.3

498.2
73.1
170.4
37.6

513.9
78.8
173.7
38.7

528. 8
80.7
177. 0
39. 5

541.1
79.2
181.9
40.5

Gross private domestic investment, total...do

214.6

189.1

243.3

219.9

210.7

210.4

175.1

171.2

205.4

204.7

231.3

244.4

254.3

243.4

271.8

294.9

Fixed investment
Nonresidential
Structures
.
Producers' durable equipment

do.
do
do
do.

205.7
150.6
54.5
96.2

200.6
149.1
52.9
96.3

230.0
161.9
55.8
106.1

207.0
150.5
55.0
95.4

208.4
153.5
54.7
98.8

203.6
153.2
55.6
97.5

197.1
149.8
53.3
96.5

196.3
147.7
51.9
95.7

200.5
148.2
52.8
95.9

208.4
150.7
53.4
97.4

216.8
155.4
54.7
100.8

226.1
159.8
55.8
104.0

232.8
164.9
56.0
109.0

244.3
167.6
57.0
110.6

258. 0
177.0
57.9
119.2

273.2
182.4
01.0
121.4

Residential
Change in business inventories
Nonfarm

do.
do.
do.

55.1
8.9
10.8

51.5
-11.5
-15.1

68.0
13.3
14.9

56.6
12.9
13.0

54.9
2.3
2.4

50.5
6.8
10.7

47.3
-22.0
-25.9

48.6
-25.1
-26.5

52.3
4.9
1.4

57.6
-3.6
-9.2

61.4
14.5
15.9

66.3
18.3
20.4

67.8
21.5
22.0

76.7
-.9
1.4

81.0
13.8
14.1

90.4
21.7
22.4

Net exports of goods and services
Exports
Imports

do.
do.
do..

6.0
137.9
131.9

20.4
147.3
126.9

162.9
155.1

3.2
134.2
131.0

2.4
140.6
138.2

8.2
150.5
142.3

15.4
147.4
131.9

24.3
142.7
118.3

20.8
146.9
126.1

20.8
152.1
131.3

10.2
153. 9
143.7

10.2
160.6
150.4

7.9
168.4
160.6

3.0
168.5
165.6

-8.2
170. 4
178. 0

-9.8
178.0
187.8

302.7
111.1
77.0
191.5

338.9
123.3
83. 9
215.6

231.2

297. 8
108. 9
75.8
188. 9

308.0
113.0
77.9
195.0

317.5
116. 9
79.6
200.7

326.0
119.6
81.6
206.4

335.2
121.8
83.0
213.3

343.5
123.8
84.4
219.7

351.0
128.1
86.7
222. 9

353.6
127.6
86.3
225. 9

358. 9
128. 5
86.0
230.4

363.0
130.2
86.4
232.7

370.0
134. 2
88.4
235.8

374. 9
130. 3
89.7
238. 5

390. 0
143. 0
93.4
247.0

1,404.0
629. 7
240.8
389. 0
626.8
147.4

1,540.3
697.7
267.5
430.2
699. 2
143.5

1,693.1
750.9
299.3
451.6
782.0
160.2

1,387.2
622. 6
240.5
382.2
614.5
150.1

1,427.8
644.0
248.2
395. 8
635.8
147. 9

1,445.5
643.7
241.3
402.3
656. 7
145.1

1,475.0
665.8
250.6
415.2
670.5
138.8

1,521.7
692. 9
263.8
429.1
689. 5
139.3

1,560.0
706.6
c
272. 5
434.2
708.4
145.0

1,604.4
725. 2
283.1
442.1
728.3
150.8

1,636.7
730.0
287.6
442.4
751.6
155.0

1,673.7
743. 4
294. 9
448.5
770.8
159.4

1,705.8
754.5
302.7
451.8
791.8
159. 6

-11.5
-9.2

13.3
4.1
9.3

12.9
1.0
11.8

2.3
6.3
-4.0

6.8
12.2
-5.4

-22.0
-12.8
—9.2

-25.1
-11.7
-13.4

4.9
-2.1
7.0

-3.6
-10.3

14.5
-2.0
16.6

18.3
7.0
11.2

o 10.9

Govt. purchases of goods and services, total .do
Federal
do
National defense
do.
State and local
do.
By major type of product:f
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.
do.
do.
do .

361.4
130.1

21.5
10.7

1,756.3 1,797.0 1,848. 0
775.6
792.1
805. 4
312. 0
320. 0
339. 5
463.6
405. 0
475.9
813.8
833. 7
855. 2
166. 9
171.2
187.5
-.9
.6
c-1.6

13.8
7.8
0.0

21.7
11.5
10.2

G N P in constant (1972) dollars!

Gross national product, totalt

bil.$._

1,217.8

1,202.1

1,274.7

1,224.5

1,216.9

1,199.7

1,169.8

1,188.2

1,220.7

1,229.8

] ,256.0

1,271.5

1,283.7

Personal consumption expenditures, total..do

760.7

775.1

821.3

761.7

766.6

752.9

756.9

770.4

780.2

792.8

807.2

815.5

822.7

Durable goods
do
Nondurable goods
do
Services
do... ~
Gross private domestic investment, total...do

112.5
303.9
344.3

112.7
307.6
354.8

127.5
321.6
372.2

114.8
303. 8
343.2

115.6
305.3
345.6

104.3
301.2
347.4

106.2
301.8
349.0

109.0
308.4
353.0

115.4
308.6
356.2

120.2
311.5
361.2

183.6

141.6

173.0

189.8

176.6

170.6

133.0

130.9

153.1

175.6
130.6
45.0
8.0

151.5
112.7
38.8
-9.9

164.5
116.8
47.7
8.5

180.6
133.8
46.8
9.2

174.6
130.6
44.0
2.0

163.8
124.1
39.7
6.8

152.9
116.6
36. 3
-20.0

148.9
112.0
36.9
-18.0

150.2
111.0
39.3
2.9

Fixed investment
Nonresidential
Residential
Change in business inventories
Net exports of goods and services

do
do...
do
do

1,287.4 1,311.0 1,330. 0
839.8

850. 4

854.1

130. 7
329.4
379. 7

130. 9
329. 7
383. 8

137.9
330.0
380.3

125.4
316.1
365.6

126.6
319.3
369. 6

127.1
321.5
374.0

149.2

168.1

175.2

179.4

169.2

180. 7

197.2

153.8
111.3
42.6
-4.6

158.4
113.7
44.8
9.7

163.1
115. 9
47.1
12.1

165.6
118.5
47.1
13.8

171.0
119. 0
52.0
-1.8

177.0
124. 3
52. 7
9.7

184.0
120. 4
57.0
13.2

do

15.9

22.5

16.0

15.4

15.3

17.9

20.5

24.5

22.7

22.3

16.8

16.4

17.0

13.8

10.0

9.3

Govt. purchases of goods and services, total do
Federal
do
State and local
'__'"
do

257.7
95.8
161.8

263.0
96.7
166.3

264.4
96.5
167. 9

257.6
95.4
162.2

258.5
96.4
162.1

258.3
95.7
162.6

259.4
96.0
163.4

262.3
96.5
165.8

264.8
96.9
167.8

265.4
97.4
168.0

263.9
96.4
167.5

264.4
96.1
168.4

264.6
96.7
168.0

264.6
97.1
167.5

203. 3
97.0
100. 4

270.0
101.1
108.9

r
Revised.
P Preliminary.
t 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);

242-659 O - 77 - SI




revisions prior to May 1976 for personal income appear on p. 28 of the July 1977 SURVEY
c
9Includes data for items not shown separately.
Corrected

S-l

SURVEY OF CURRENT 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

1974

1975

1975

1974

1976

Annual total

III

August 1977

IV

II

I

1976
III

IV

I

1977
III

II

IV

I

II

III

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

Rates

Implicit price deflators:!
Gross national product
Index, 1979=100
116 02
116.9
do
Personal consumption expenditures
108.4
do
Durable goods
do
123 8
Nondurable goods
Services
do
113 6
Gross private domestic investment:
Fixed investment
do
117.1
do
115 3
Nonresidential
Residential.
. ..do.... 122.3
117 5
Govt purchases of goods and services
do
115.9
Federal... ..
.
.. d o —
118.4
do
State and local
National income totalt
bil $ 1,136. 0
Compensation of employees, total
do
875. 8
do
764 1
Wages and salaries total
160. 0
Govt. and govt. enterprises
do .
604.1
do
Other
do
111.7
Supplements to wages and salaries
Proprietors' income with inventory valuation
and capital consumption adjustments,
total

"Kil £

Farm
do .
Nonfarm
. do.-.
Rental income of persons with capital consumption adjustment
hil $
Corp. profits with inventory valuation and capital consumption adjustments, total
bil. $__
Corp. profits with invent, val. adj.:
Domestic total
do
do
Financial
do
Nonfinancial total 9
Manufacturing total Q
do
Durable coods
Transportation, communication, and
electric, gas, and sanitary serv...bil. $__
Rest of the world
rin
Profits before tax, total
do
do
Profits tax liability
Profits after tax
do
Dividends
do ...
d o Undistributed profits
Inventory valuation adjustment
do
Capital consumption adjustment
Net interest
.. do....
DISPOSITION OF PERSONAL INCOME f
Quarterly Data Seasonally Adjusted at Annual

127.18
126. 5
117.9
133 1
123 5

133. 88
133.2
124.7
137.7
132.3

117.52
118.6
110.5
125.7
115.0

121. 06
121.7
113.9
129. 0
117.7

124. 21
123.7
115.6
130.6
120.3

125.96
125.4
117.2
131.8
122.3

128. 28
127.5
118.4
134.5
124.5

130.17
129.2
120.1
135.5
126. 8

131.47
130.8
122.2
136. 2
129.2

133. 06
132.3
123.8
136. 9
131.1

134. 56
134.0
125.3
138.3
133.2

136. 35
135.6
127.2
139.3
135.4

138.13
137.9
129.3
141. 5
137.8

140.51
139.8
129.5
143.8
140.1

132.4
132 3
132.8

139. 8
138.7
142.5

119.3
117.6
124.6

124.3
123.4
127.0

128.9
128.5
130.3

131.8
131.8
131.7

133.5
133.6
133. 2

135.5
135.5
135.4

136.9
136.8
137.1

138. 6
137 8
140.7

140. 6
139.2
144.1

142.9
140.9
147.5

145. 8
142.5
153.7

148.5
144.4
157.6

128.9
127.5
129.7

136.7
134.8
137. 7

119.2
117. 2
120.3

122.9
122.1
123.4

125.7
124.5
126. 3

127.8
126. 3
128.6

129.7
127.7
130.9

132.3
131.5
132.7

134.0
132.4
134.9

135.7
133.7
136.8

137.2
134.7
138.6

139.8
138.2
140.7

142.3
140. 6
143.4

144.6
142.0
146.2

1,217.0

1,364.1

1,147.1 1,159.9

1,156.0

1,191.4

1,244.9

1,275.7

1,321.0

1,353.9

1,379.6

1,402.1

, 450. 2 1,505.1

930.3 1, 036. 3
891. 8
805 7
187.2
175.4
630.3
704. 6
144.5
124.6

888.2
774.5
160. 7
613. 8
113.7

902. 2
785. 4
166. 2
619.1
116.8

904.6
785.1
169. 8
615. 2
119.6

914.4
792. 4
173.7
618. 6
122.1

936.7
810.5
176. 9
633.5
126. 3

965. 6
834.9
181.2
653. 8
130.7

999. 6 1, 024. 9 1,046.5 1, 074. 2
861. 5
882.4
900.2
923.2
182.7
185.4
188.2
192.5
678. 8
697. 0
712.0
730.7
138.1
142.5
146.3
150.9

, 109.9 1,144. 7
951. 3
980.9
197.2
194. 8
756. 4
783.6
163.8
158.6

86 2
25.4
60.9

86 0
23.2
62.8

88.0
18.6
69.4

84.7
23.0
61.7

83.3
22.0
61.3

78.9
18.3
60.6

84.3
22.7
61.6

90.4
26.7
64.2

90.4
25.5
64.9

86.9
20.0
66.9

90.4
21.6
68.8

86.2
16.2
70.0

88.7
16.6
72.0

95.1
20.7
74.3

97.0
19.7
77.3

21 4

22.3

23.3

21.5

21.9

22.1

22.3

22.2

22.6

23.0

22.9

23.3

24.1

24.5

24.9

83.6

99.3

128.1

80.1

77.6

74.0

92.7

115.6

114.7

126.5

129.2

133.5

123.1

125.4

139.7

105.4
15.0
90.3
47 9
18 5

134.6
18.2
116.4
66.3
29. 9

74.3
15.2
59.1
36.5

73.3
14.3
58.9
32.0

77.2
15.1
62.1
29.4

122. 6
14.7
107. 9
59.6
25. 9

123. 2
16.1
107.1
59.1
23.8

132.4
17.8
114.6
65.3
27 2

136.1
18.1
118.0
68.7
32.5

139.8
18.4
121.3
68.4
31.0

130.2
18.4
111.8
62.9
29.0

131.0
19.2
111.8
65. 2
31.5

128.9
19.7
109.1

76
14
62
36

9
4
5
6

115

9.4

9.4

9.0

98.4
14.3
84.1
43.4
15.4

5.3
6.0

8.5
6.2

11.1
6.3

12.1
6.0

11.1
8.6

12.1
7.6

12 2
8.4

10 4
7. 7

11 6
10.1

10.9

5.6
96

9.3
6.1

11.5
8.1

5.6
9.4

6.0
11.0

126 9
52 4
74 5
31.0
43.6

123.5
50.2
73.4
32.4
41.0

156.9
64.7
92.1
35.8
56.4

138.2
57.2
81.0
31.6
49.4

123.9
50.4
73.5
31.3
42.2

101.5
40.8
60.8
32.0
28.8

113.9
45.7
68.2
32.2
36.0

137.7
56.3
81.4
32.9
48.5

141.0
57.9
83.1
32.5
50.6

153.5
63.1
90.4
33.6
56.8

159.2
66.1
93.1
35.0
58.1

159.9
65.9
94.0
36.0
58.0

154.8
63.9
90.9
38.4
52.5

161.7
64.4
97.2
38. 5
58.8

173.4
69.3
104.1
40.3
63.8

-40.4
-2.9
69.0

-12.0
-12.2
79.1

-14.1
-14.7
88.4

-54.4
-3.6
72.6

-39.6
-6.7
74.9

-18.3
-9.2
76.4

-9.3
-11.9
77.6

-8.8
-13.3
79.9

-11.8
-14.5
82.3

-12.4
-14.6
85.0

-15.5
-14.6
86.5

-11.7
-14.7
90.1

-16.9
-14.8
92.0

-20. 6
-15.6
95.3

-17.8
-15.9
98.9

Rates

Personal income, total
.
..
_.bil. $.. 1,154.9 1, 253.4 1,382.7 1,174.3 1,194.7 1,205.1 1,234.7 1,269.7 1,304.0 1,338.1 1,366.7 1,393.9 1,432.2 1,476.8 1,511.2
do
170.3
169.0
196. 9
174. 6
178.5
179.6
142.5
173.9
179.9
184.8
192.6
200.6
209.5
224.4
224.8
Less: Personal tax and nontax payments
984. 6 1,084.4 1,185.8
999. 7 1,016.2 1,025.4 1,092.2 1, 095. 7 1,124.1 1,153.3 1,174.1 1,193. 3 1, 222. 6
252 4 1,292.5
Equals: Disposable personal income
do..
do
913 0 1, 004. 2 1,119.9
932.8
940.3
960.1
989.1 1,019.1 1, 048. 6 ., 080. 9 1,103. 8 1,128. 5 1,166. 3 1,201.0 1,223.9
Less: Personal outlays©
65.9
75.9
65.4
76.7
75. 5
72.4
70.3
64.8
56.3
51.-4
68.5
66.9
103.1
80.2
do.
71.7
Equals: Personal saving §
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
34.52
30.41
29.20 i 33. 79 i 33. 99
30.74
27.79
31.92
25.82
29.70
25.87
28.43
28.23
All industries
"hil. $
112 40
112. 78 120. 49
52.48
11.62
13.63
10.84
12.15
11.67
13.30
10.96
12.66
13.48
15.38
12.52
14.63
15.29
47.95
do
46.01
Manufacturing
f
22.62
21.84
23.68
5.65
6.64
5.10
5.59
5.16
5.99
4.78
5.61
6.02
7.27
5.80
6.57
6.95
do
Durable goods industries
23.39
26.11
28.81
5.96
6.99
5.74
6.55
6.51
7.30
6.18
7.05
7.46
8.12
6.72
8.06
8.35
Nondurable goods industries *
do14.98
14.91
68.01
16.12
16. 28
16.93
66.39
64.82
18.29
17.44
17.04
19.14
18.70
16.61
19.16
16.68
Nonmanufacturing
do
.94
.97
.92
.91
.99
.97
.91
.80
3.79
4.00
1.04
1.05
1.02
1.14
1.12
3.18
do
Mining
.62
.62
.49
.68
.64
.59
.71
.59
.59
.71
.64
.78
2.54
2.55
2.52
. 7n
do
Railroad
.50
.43
.26
.42
.26
.35
.33
.46
.45
.44
.47
.43
2.00
1.30
.48
1.84
do
Air transportation
.64
2.12
3.63
.71
.62
. 77
.85
.93
.72
1.02
.95
.94
.61
.62
.58
3.18
Other transportation
do_._6.48
22.28
5.67
5.20
20.55
20.14
4.42
4.94
5.70
5.52
Public utilities
5.07
4.79
5.50
6.46
5.55
6.46
do
17.00
18.80
4.42
4.80
3.84
4.15
4.16
4.85
4.18
4.74
4.54
5.34
4.78
5.32
5.33
Electric
do . 17.63
.91
.85
.62
.76
.98
.79
.87
.58
2.92
3.14
3.47
.78
1.12
. 77
1.14
1.15
Gas and other.
do-.-13 96
12 74
13.30
3 39
3 78
3.11
3.22
3.14
3.26
2.92
3.21
3.33
3.84
3.30
do
C ommuni cat ion
5.00
5.52
4.82
5.21
5.19
5.78
5.27
2 9.77 2 9. 42
5.19
20. 99
4.88
5.97
22.05
20.60
5.57
Commercial and other
do....
Seas. adj. qtrly. totals at annual rates:
113. 99 116. 22 114.57 112. 46 112.16 111.80 114.72 118.12 122. 55 125. 22 130.16 1134.46 1136.91
All industries
do
49.05
48.78
47.39
46.82
49.21
50.64
54.78
54.44
56. 43
58.62
61. 77
47.04
48.08
do
Manufacturing
23.28
22. 86
22.59
21.01
21.07
21. 63
22.54
24. 59
25.50
26. 30
26.42
28.30
23.08
do
Durable goods industries *
i
23.96
24.80
26. 20
26.19
26.38
25.75
27.58
28.09
30.20
28.93
30.13
32.20
33.46
Nondurable goods indu tries *
do ...
75.14
75.84
73.74
67.76
70.78
64.98
65. 51
64.76
67.48
65.52
63. 68
66. 94
68.14
Nonmanufacturing
do
4.54
4.42
4.13
4.24
3.82
4.21
3.82
3.83
3.83
3.76
3.78
3.56
3.27
do
Mining
2.39
2.70
2.75
2.39
2.08
2.64
2.69
2.63
2.71
2.69
2.37
3.05
2.68
do
Railroad
2.09
1.60
2.12
1.65
1.18
1.44
1.12
1.41
1.62
1.52
1.94
1.84
1.81
do
Air transportation
2.82
2.75
2.99
3.56
3.29
4.16
3.44
3.49
2.96
2.39
2.43
2.71
2.16
do
Other transportation
25.72
21.67
19.52
21.85
25. 35
20.93
20.91
25.65
20.16
21.91
23.46
Public utilities
20.28
19.79
do
17.47
17.76
17.03
16.41
16. 58
17.92
18. 56
18.82
18.22
19.49
21.19
21.09
21.58
do
Electric
1
!
3.17
3.25
3.11
3.21
3.00
3.36
3.03
3.45
3.96
4.16
4.56
4.14
2.68
do
Gas and other
14 01
14.04
13.36
12.50
12.95
12.22
12.54
12.62
13.64
14.30
14.19
do
Communication
20.82
20.83
20.34
20.44
20.68
20.94
20. 99
21.36
22.67 2 39.16 2 38.14
22.04
22.84
Commercial and other
do..-_
r
by consumers to business, and personal transfer payments to foreigners (net).
Revised.
p Preliminary.
i Estimates (corrected for systematic biases) for Apr.June 1977 and July-Sept. 1977 based on expected capital expenditures of business. Expected
§Personal saving is excess of disposable income over personal outlays.
expenditures for the year 1977 appear on p. 20 of the June 1977 SURVEY. 2 Includes comHData for individual durable and nondurable goods industries components appear m the
munication
Trmrnrntinn
fgee corresponding note on p. S-l.
9 Includes data for items not shown
Mar., June, Sept., and Dec. issues of the SURVEY.
separately.
©Personal outlays comprise personal consumption expenditures, interest paid




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