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SURVEY OF CURRENT BUSINESS

April 1971

11

NATIONAL INCOME AND PRODUCT TABLES
1969
1970

1970
II

IV

1970

1969

Ill

IV

1969

1970

IV

Seasonally adjusted at annual rates

1971
III

IV

Seasonally adjusted at annual rates

Billions of current dollars

Billions of 1958 dollars

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

931.4

976.5

951.7

959.5

971.1

985.5

989.9 1018.4

727.1

724.1

729.2

723.8

724.9

727.4

720.3

731.6

Personal consumption expenditures

577.5

616.7

592.6

603.1

614.4

622.1

627.0

644.7

467.7

477.1

471.7

474 0

478.1

479.6

476 6

485.3

90.0
245.8
241.6

89.4
264.7
262.6

90.8
252.0
249.8

89.1
258.8
255.2

91.9
262.6
259.9

91.2
265.8
265.1

85.3
271.5
270.2

96.1
272.5
276 0

84.9
201.2
181.6

82.0
207.9
187.2

84.9
202.4
184 4

82.7
205.6
185 8

84.9
206.6
186.6

83.6
208.2
187.8

76.9
211.1
188.6

85.4
210.6
189.4

139.8

135.7

140.2

133.2

134.3

138.3

137.1

142.9

111.3

102.8

110.0

102.9

103.1

104.1

101.3

104.4

131.4

132.3

133.0

131.6

131.2

132.7

133.5

140 5

104.1

99.8

103.9

101.5

100.1

99.6

98.1

102.4

Nonresidential . . .
.
.
Structures
Producers' durable equipment

99.3
33.8
65.5

102.6
35.2
67.4

102.6
35.1
67.5

102.6
35.7
66.9

102.8
35.3
67.5

103.6
35.0
68.6

101.3
34.7
66.6

105.1
36 3
68.8

80.8
24.0
56.9

79.2
23.1
56.1

82.1
24.3
57.8

80.9
24 4
56.5

80.2
23.5
56.7

79.6
22.6
56.9

76.3
21.8
54.5

78.4
22.5
55.9

Residential structures
Nonfarm
Farm

32.0
31.5
6

29.7
29.1
.6

30.4
29.8
6

29.1
28.4
6

28.4
27.8
.6

29.2
28.6
.6

32.2
31.6
.6

35.4
34.8
.6

23.3
22.8
4

20.6
20.2
.4

21.8
21.4
4

20.7
20.2
4

20.0
19.5
.4

20.0
19.6
.4

21.9
21.5
.4

24.0
23.5
.4

8.5
8.0
.4

3.5
2.9
.6

7.2
6.5
.7

1.6
.9
.7

3.1
2.6
.5

5.5
5.0
.5

3.6
3.0
.6

2.4
2.2
.2

7.2
6.8
.4

3.0
2.5
.5

6.1
5.4
.8

1.3
.8
.6

2.9
2.5
.4

4.6
4.1
.4

3.1
2.6
.5

2.1
1.9
.2

2.6

3.5

4.1

4.2

2.6

2.8

.2

2.4

.9

1.9

2.4

3.1

2.0

2.2

58.8
56.2

61.1
57.6

62.8
58.7

62.8
58.6

62.0
59.3

64.1
61.3

48.5
48.2

52.1
49.7

50.0
49.1

52.0
50.1

52.9
50.5

52.0
48.9

51.4
49.3

53.1
50.9

Durable goods
Nondurable goods
Services

.

. .

_

. . . .

Gross private domestic investment. . .
Fixed investment

Change in business inventories
Nonfarm
.
. .
Farm

..

Net exports of goods and services .

1.9

Federal
National defense
Other
State and local _ _

.

.

62.2
58.6

212.2

Government purchases of goods and services

3.6

55.5
53.6

Exports
Imports

220.5

216.3

219.6

218.4

221.0

223.2

228.0

101.3
78.8
22.6
110.8

99.7
76.6
23.1
120.9

102.1
78.8
23.3
114.2

102.3
79.3
23.0
117.4

99.7
76.8
22.9
118.7

98.6
75.8
22.9
122.4

98.2
74.6
23.5
125.0

98.1
73.9
24.1
129.9

147.8

141.8

146.6

145.0

141.3

140.6

140.3

139.7

75.7

67.7

73.8

71.1

67.8

66.2

65.5

63.1

72.1

74.1

72.9

73.8

73.5

74.4

74.8

76.6

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3,1,5)
931.4
922.9
8.5

976.5 951.7
973.1 944.5
7.2
3.5

959.5
957.9
1.6

971.1
968.1
3.1

985.5
980.0
5.5

989.9 1018.4
986.3 1016 0
3.6
2.4

727.1
719.9
7.2

724.1
721.1
3.0

729.2 723.8
723.0 722.4
6.1
1.3

724.9
721.9
2.9

727.4
722.8
4.6

720.3
717.1
3.1

731.6
729.6
2.1

Goods output
Final sales.
Change in business inventories.

460.0
451.6
8.5

474.4
470.9
3.5

468.9
461.7
7.2

467.1
465.5
1.6

474.9
471.8
3.1

479.8
474.2
5.5

475.6
472.0
3.6

487.7
485.3
2.4

392.2
385.0
7.2

388.7
385.7
3.0

393.5 387.3
387.4 386.0
6.1
1.3

391.1
388.2
2.9

392.1
387.5
4.6

384.5
381.3
3.1

391.7
389.6
2.1

Durable goods
Final sales
Change in business inventories

190.2
183 9
6.4

185.1
185.3
—.2

192.7
187 4
5.3

185.3
185 5
—.3

186.6
188.5
-1.9

193.5
188.3
5.2

175.1
178 8
-3.7

194.8
191 3
35

170.1
164.7
5.3

160.3
160.5
-.2

170.3
165 9
4.4

162.3
162.6
-.3

162.9
164.4
-1.5

167.1
162.7
4.3

148.9
152.1
-3.2

164.4
161.4
3.0

Nondurable
Final sales
Change in business inventories

269 8
267.7
2.1

289.2
285.6
3.6

276 2
274.3
1.9

281 8
280.0
1.9

288 3
283.3
5.0

286.3
286.0
.3

300.5 292 9 222.1
293.3 294 0 220.3
7.2 —1.1
1.8

228.5
225.3
3.2

223.3
221.5
1.8

225.1
223.4
1.6

228.3
223.8
4.5

225.0
224.7
.2

235.6
229.2
6.4

227.2
228.2
—1.0

377.6
93.8

409 6
92.6

390.3
92 5

400.1
92.3

405.8
90.4

413.2
92.6

419.4
94.9

428.7
102.0

273.9
61.4

271.3
64.4

273.1
63.4

272.8
60.9

274.8
60.5

275.0
60.8

275.4
64.6

724.9

727.4

720.3

731.6

670.4

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

Services.
Structures

268.2
66.6

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product
Private
Business. _
Nonfarm
Farm
Households and institutions
Rest of the world
General government

931.4

976.5

951.7

959.5

971.1

985.5 989.9 1018.4

727.1

724.1

729.2

723.8

827.8

863.2

844.0

848.5

858.4

871.7

874.3

898.7

666.4

663.4

668.1

663.1

664.2

666.8

659.4

795.4
767.9
27 5

828.3
800.1
28.1

810 8
783.0
27 8

814 3
785.5
28 8

824.5
796.0
28.5

836.5 837.8
808.5 810.6
28.0 27.2

860.7
833.5
27 3

646.0
622.5
23.6

642.4
619.3
23.2

647.6
624.7
22.8

642.1
619.5
22.6

644.0
621.0
23.0

645.9
622.9
22.9

637.8
613.7
24.1

648.1
624.6
23.4

28.1
4 3

30.3
4 6

29.0
4 2

29.6
45

30.0
3.9

30.5
47

31.1
5.4

32.1
5.9

16.4
4 0

16.6
4.3

16.6
4.0

16.7
4.3

16.5
3.6

16.5
4.4

16.5
5.1

16.9
5.5

103.6

113.3

111.0

112.8

113.9

115.5

119.7

60.7

60.7

61.1

60.7

60.7

60.6

60.8

61.2

107.7

^Preliminary.




HISTORICAL STATISTICS
National income and product statistics for earlier periods are available as follows:
Data for 1966-69, July 1970 SURVEY OF CURRENT BUSINESS; 1964-65, July 1968 SURVEY;
1929-63, The National Income and Product Accounts of the United States (available from
U.S. Department of Commerce Field Offices or from the Superintendent of Documents,
U.S. Government Printing Office, Washington, D.C. 20402, price $1.00 per copy).

CURRENT BUSINESS STATISTICS

IKE STATISTICS here update series published in the 1969 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $3.00) provides a description of each series, references to sources of earlier figures, and historical data
as follows: For all series, monthly or quarterly, 1965 through 1968 (1958-68 for major quarterly series), annually, 1939-68; for selected series,
monthly or quarterly, 1947-68 (where available). Series added or significantly revised after the 1969 BUSINESS STATISTICS went to press are indicated
by an asterisk (*) and a dagger (f), respectively; certain revisions for 1968 issued too late for inclusion in the 1969 volume appear in the monthly
SURVEY beginning with the September 1969 issue. Also, 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 1969 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 189-90.
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.
1968

Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS

1969

1970

1968
I

Annual total

II

III

| IV

I

III

II

1971

1970

1969

IV

I

II

III

IV

IP

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
931.4

976.5

834.9

858.1

875.8

891.4

907.6

923.7

942.6

951.7

959.5

971.1

985.5

989.9 1, 018. 4

do

535.8

577.5

616.7

519.7

529.1

543.8

550.8

561.8

573.3

582.1

592.6

603.1

614.4

622.1

627.0

644.7

84.0
37.2
34.6

90.0
40.3
36.7

89.4
37.4
38.4

79.9
34.9
33.7

82.6
36.0
34.1

86.7
39.1
35.4

86.9
38.8
35.2

89.1
39.8
35.8

90.6
40.0
37.2

89.5
40.2
36.7

90.8
41.1
36.9

89.1
37.7
38.3

91.9
39.4
38.9

91.2
39.2
38.1

85.3
33.2
38.2

96.1
44.4
39.5

230.2
46.1
115.1
19.0

245.8
49.9
121.7
21.1

264.7
52.3
131.6
22.9

225.6
44.8
112.7
18.8

227.6
45.2
114.7
18.6

232.6
47.1
116.1
19.2

234.8
47.2
117.0
19.3

239.2
47.9
119.1
20.3

244.0
50.0
120.8
20.8

248.1
50.7
122.4
21.5

252.0
50.9
124.6
21.7

258.8
51.3
128.8
22 4

262. 6
51.8
131.2
22.7

265.8
52.3
132.3
23.0

271.5
53.8
134.1
23.5

272.5
54.1
134.8
23.8

221.6
31.2
77.4
15.6

241.6
33.9
84.0
16.7

262.6
36.3
91.9
18.1

214.2
30.4
75.2
15.2

218.9
30.8
76.6
15.3

224.5
31.5
77.9
15.6

229.0
32.1
79.8
16.1

233.5
32.7
81.4
16.2

238.7
33.3
83.0
16.5

244.5
34.5
84.7
16.8

249.8
34.8
87.0
17.1

255.2
35.2
89.0
17.7

259.9
35.9
90.8
17.9

265.1
36.9
92.6
18.2

270.2
37.3
95.1
18.5

276.0
37.7
97.5
18.7

, . bil.$.

Personal consumption expenditures, total
Durable goods, total 9... ._
Automobiles and parts
Furniture and household equipment
Nondurable goods, total 9
Clothing and shoes
Food and beverages
Gasoline and oil

865.0

. do
do
do

Gross national product, total f ._ ._.

do
do
do. _
do

_

Services, total 9
.
_ _ . _ _ . _ _ _ . do._
Household operation.. .
do
Housing
_ ... _
do
Transportation
..do _

126.5

139.8

135.7

119.8

127.3

126.5

132.6

136.0

139.3

143.8

140.2

133.2

134.3

138.3

137.1

142.9

118. 9
88.7
29.6
59.1
30.3
29.7
7.6
7.5

131.4
99.3
33.8
65.5
32.0
31.5
8.5
8.0

132.3
102.6
35.2
67.4
29.7
29.1
3.5
2.9

117.2
88.3
29.8
58.5
28.8
28.3
2.6
2.5

117.0
86.4
28.9
57.5
30.6
30.1
10.4
10.3

118.3
88.3
29.4
59.0
29.9
29.4
8.2
8.1

123.3
91.6
30.3
61.3
31.7
31.1
9.3
9.3

128.7
95.7
32.6
63.1
33.0
32.4
7.4
7.3

131.4
97.5
32.3
65.2
33.9
33.3
7.9
7.6

132.4
101.5
35.2
66.3
31.0
30.4
11.3
10.8

133.0
102.6
35.1
67.5
30.4
29.8
7.2
6.5

131.6
102.6
35.7
66.9
29.1
28.4
1.6
.9

131.2
102.8
35.3
67.5
28.4
27.8
3.1
2.6

132.7
103.6
35.0
68.6
29.2
28.6
5.5
5.0

133.5
101.3
34.7
66.6
32.2
31.6
3.6
3.0

140.5
105.1
36.3
68.8
35.4
34.8
2.4
2.2

2.5
50.6
48.1

1.9
55.5
53.6

3.6
62.2
58.6

1.8
47.7
45.9

3.4
50.7
47.3

3.4
53.2
49.8

1.4
50.9
49.5

1.3
47.8
46.5

1.3
57.2
55.9

2.6
58.3
55.6

2.6
58.8
56.2

3.5
61.1
57.6

4.1
62.8
58.7

4.2
62.8
58.6

2.6
62.0
59.3

2.8
64.1
61.3

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

200.2
99.5
78.0
100.7

212.2
101.3
78.8
110.8

220. 5
99.7
76.6
120.9

193.6
96.4
76.3
97.2

198.3
98.9
77.8
99. 4

202.1
100.7
78.6
101.4

206.7
101.9
79.2
104.7

208.5
100.9
78.6
107.5

209.9
99.8
77.9
110.1

214.1
102.5
79.8
111.6

216.3
102.1
78.8
114.2

219.6
102.3
79.3
117.4

218.4
99.7
76.8
118.7

221.0
98.6
75.8
122 .4

223.2
98.2
74.6
125.0

228.0
98.1
73.9
129. 9

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

857.4
422.9
170.4
252. 5
347.1
87.4

922.9
451.6
183.9
267.7
377.6
93.8

973.1
470.9
185.3
285.6
409.6
92.6

832.3
411.6
165.2
246.4
334.7
86.0

847.8
417.8
168.0
249.8
343.1
86.8

867.6
429. 0
173.1
255.9
352.2
86.3

882.1
433.3
175.3
258.0
358.4
90.5

900.2
440.9
180.5
260.4
364.8
94.5

915.9
448.8
182.7
266.1
372. 3
94.8

931.2
454.9
184.8
270.1
383.0
93.3

944.5
461.7
187.4
274.3
390.3
92.5

957.9
465.5
185.5
280.0
400.1
92.3

968.1
471.8
188.5
283.3
405.8
90.4

980.0
474. 2
188.3
286.0
413. 2
92.6

986.3 1, 016. 0
485.3
472.0
191.3
178.8
294. 0
293.3
419.4
428. 7
102.0
94.9

7.6
5.7
2.0

8.5
6.4
2.1

3.5
2
3.Q

2.6
2.5
.1

10.4
7.1
3.2

8.2
5.8
2.4

9.3
7.2
2.1

7.4
5.6
1.8

7.9
6.7
1.2

11.3
7.9
3.5

7.2
5.3
1.9

1.6
-.3
1.9

3.1
-1.9
5.0

5.5
5.2
.3

Gross private domestic investment, total.
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential structures
Nonfarm
_ ._
Change in business inventories.-.
Nonfarm

do

do
- - do
do __
do
do
. . .do. _
_.do
do

Net exports of goods and services
Exports
Imports... _ _
...

do
do
. do__

-_.do-_.
do
do
_ _ _ _ .do
do
_ _ _ _ _ _ _ _ .do

Change in business inventories..- ..
Durable goods
Nondurable goods

_ do _ _
do
do

3.6
-3.7
7.2

2.4
3.5
-1.1

GNP in constant (1958) dollars
Gross national product, total t

bil. $

Durable goods
Nondurable goods
Services.
_

_

_.

Gross private domestic investment, total

707.2

727.1

724.1

693.5

705.4

712.6

717.5

722.1

726.1

730.9

729.2

723.8

724.9

727.4

720.3

731.6

do

452.3

467.7

477.1

445.0

448.4

457.7

458.1

463.3

467.1

468.7

471.7

474.0

478.1

479.6

476.6

485.3

do
do
do

-

Personal consumption expenditures, total

81.4
196.5
174.4

84.9
201.2
181.6

82.0
207.9
187.2

78.1
195.5
171.3

80.2
194.9
173.2

83.9
197.9
175.9

83.2
197.6
177.4

84.9
199.7
178.7

85.7
200.9
180.5

84.1
201.9
182.7

84.9
202.4
184.4

82.7
205.6
185.8

84.9
206.6
186.6

83.6
208.2
187.8

76.9
211.1
188.6

85.4
210.6
189. 4

do

105.7

111.3

102.8

101.3

107.1

105.1

109.5

109.7

111.5

114.1

110.0

102.9

103.1

104.1

101.3

104.4

. do
do
do
_ do

98.8
75.5
23.3
6.9

104.1
80.8
23.3
7. 2

99.8
79.2
20.6
3.0

98.9
76.1
22.9
2.4

97.6
73.8
23.8
9.5

97.7
74.9
22.8
7.4

101.0
77.1
23.9
8.5

103.6
79.3
24.3
6.1

104.8
80.2
24.7
6.6

104.2
81.9
22.3
9.9

103.9
82.1
21.8
6.1

101.5
80.9
20.7
1.3

100.1
80.2
20.0
2.9

99.6
79.6
20.0
4.6

98.1
76.3
21.9
3.1

102.4
78.4
24.0
2.1

do

.9

.2

2.4

.8

1.5

1.5

-.2

-.4

q

.8

.9

1.9

2.4

3.1

2.0

2.2

Govt. purchases of goods and services, total, .do
148.3
146.4
147.8
148.5
141.8
Federal. _ _
do
78.7
79.1
75.7
77.5
67.7
State and local.
do
69.6
69.4
72.1
68.9
74.1
r
p
Revised.
Preliminary.
f Revised series. Est imates of nationa" income and prod uct
and personal income have been revised back to 1967 ( see p. 17 ff . of theJuly 197 0 SURVE Y);

148.3
78.9
69.4

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




._

140.6
145.0
141.3
139.7
147.9
147.3
146.6
140.3
150.0
149.5
66.2
79.4
75.2
73.8
71.1
78.0
75.8
67.8
65.5
63.1
74.4
76.6
72.1
72.1
72.9
73.8
73.5
70.6
71.5
74.8
revisic ns prior to May L969 for p>ersonal i ncome a )pear on p. 26 ff. of the Ju ly 1970 S) U R V E Y .
9 In eludes d ata not s lown sej >arately.

S-l

April 1971

SURVEY OF CURRENT BUSINESS

S-2
Unless otherwise stated in footnotes below, data!
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS

1968

1970

| 1969

1969

1968
II

Annual total

III

IV

I

II

1970
III

IV

II

I

1971
III

IV

IP

II

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income totalf
bil $

712.7

769.5

1

706.1

722.2

735.2

749.3

764.0

779.5

785.2

791.5

797.4

806.6 - 804. 8

Compensation of employees, total

do

514.1

564.2

599.8

507.6

520.9

532.5

544.9

557.5

572.2

582.1

592.2

596.4

603.8

606.7

624.8

Wages and salaries, total
Private
Military __ _
_
Government civilian
Supplements to wages and salaries
Proprietors' income total 9
Business and professional 9
Farm
Rental income of persons

do
do
do
do
do
do
do
do
do

464.8
369.1
17.9
77.8
49.3
64.1
49.1
15.0
21.3

509.0
404.9
19.0
85.1
55.1
66.8
50.5
16.4
22.0

540.1
426.1
19.3
94.6
59.7
67.6
51.4
16.2
22.7

458.9
364.7
17.6
76.6
48.7
63.8
49.2
14.6
21.3

471.0
373.4
18.6
79.0
49.9
64.4
49.2
15.3
21.3

481.4
382.5
18.2
80.7
51.1
65.2
49.4
15.8
21.3

491.6
391.5
18.1
81.9
53.3
66.0
49.9
16.2
21.6

502.9
401.2
18.4
83.4
54.6
66.7
50.5
16.2
22.0

516.4
409.9
19.9
86.6
55.8
67.5
50.9
16.6
22.1

525.3
417.2
19.6
88.5
56.8
67.2
50.6
16.6
22.3

534.4
422.6
«20.1
"91.7
57.9
67.6
50.6
17.0
22.5

537.4
424.0
19.5
93.9
59.0
67.8
51.2
16.5
22.6

543.4
428.9
19.1
95.4
60.4
67.8
51.7
16.1
22.7

545.2
429. 1
18.6
97.5
61.4
67.4
52.0
15.3
23.0

560.2
440.4
19.2
100.7
64.6
67.0
52.2
14.7
23.1

85.4

85.8

-76.5

86.0

87.4

87.1

87.1

87.4

86.8

82.0

76.7

77.5

78.4

-73.3

11.0
74.4
42 4
19.1
23.3

12.0
73.8
41.8
19.3
22.4

12.5
-64.0
-33.5
-18.1
-15.4

10.8
75.2
42.8
18.9
23.9

11.5
75.9
42 9
19.4
23.6

11.2
75.9
43.7
19.2
24.4

11.5
75.5
43.4
19.4
24.0

11.9
75.4
42.9
19.9
23.0

12 2
74.6
41.8
19.1
22 7

12.2
69.8
39.1
19.0
20.0

12.0
64.7
35.2
18.3
16.9

12.3
65.2
35.5
18.2
17.2

12.9
65.5
34.7
18.3
16.3

- 12.6
-60.7
28.6
17.7
11.0

11.0
21.0

10.7
21.4

9.1
21.4

11.0
21.3

11.2
21. 8

10.7
21.5

11.0
21. 2

10.8
21.8

10.6
22. 2

10.3
20.4

9.1
20.4

8.6
21.1

9.1
21.7

9.6
22.5

88.7
40.6
48 2
23.3
24.9
-3.3
27.8

91.2
42.7
48.5
24.7
23.9
-5.4
30.7

-81.3
-37.5
-43.8
25.2
-18.6
-4.8
33.5

88.6
40.4
48.3
23.1
25.2
-2.6
27.3

88.4
40.4
48.0
23.8
24.2
-.9
28.2

91.3
41.7
49.6
24.1
25.5
-4.2
29.1

93.0
43.5
49.5
24.1
25.5
-5.9
29.7

93.4
43.8
49.7
24.4
25.2
-6.0
30.4

89.9
42.1
47.9
25.0
22.9
-3.2
31.0

88.5
41.4
47.1
25.2
21.9
-6.5
31.7

82.6
38.0
44.6
25.2
19.4
-5.8
32.4

82.0
38.1
43.9
25.1
18.8
-4.5
33.1

84.4
38.9
45.4
25.4
20.0
-5.9
33.8

-76.3
-34.8
-41.4
25.1
-16.3
-3.0
34.5

-3.4
35.2

688.7
97.5
591.2
550.8
40.4

748.9
117.3
631.6
593. 9
37.6

801.0
116.3
684.8
634.6
50.2

680.9
92.6
588.4
543.8
44.6

697.6
102.1
595.6
559.1
36.5

712.5
106.5
606.0
566.4
39.6

725.8
113.8
612.0
577.7
34.3

741.1
118.1
623.0
589. 7
33.3

758. 1
117.5
640.6
598.7
42.0

770.5
119.9
650.6
609.6
41.1

782.3
117.0
665.3
620.5
44.8

801.3
117.7
683.6
632.1
51.5

807.2
114.2
693.0
640.2
52.7

813.3
116.1
697. 2
645. 5
51.8

831.4
116.4
714. 9
663.6
51.3

67.76
28.37
14.12
14.25

75.56
31.68
15.96
15.72

79.71
31. 95
15.80
16.15

16.85
6.99
3.36
3.63

16.79
7.13
3.54
3.59

19.03
8.10
4.16
3.94

16.04
6.58
3.36
3.22

18.81
7.82
3.98
3.84

19.25
8.16
4.03
4.12

21.46
9.12
4.59
4.53

17.47
7.14
3.59
3.56

20.33
8.15
4.08
4.07

20.26
7.99
3.87
4.12

21.66
8.66
4.26
4.40

39.40
1.63
1.45
2.56
1.59
10.20
7.66
2.54
6.83
15.14

43.88
1.86
1.86
2.51
1.68
11.61
8.94
2.67
8.30
16.05

47.76
1.89
1.78
3.03
1.23
13.14
10.65
2.49
10.10
16.59

9.86
.43
.37
.58
.42
2.62
1.94
.68
1.62
3.81

9.66
.39
.31
.64
.41
2.61
1.87
.74
1.61
3.69

10.93
.40
.38
.66
.47
2.90
2.16
.74
2.00
4.13

9.45
.42
.38
.68
.38
2.36
1.88
.48
1.81
3.41

10.99
.48
.44
.66
.46
2.99
2.22
.77
2.00
3.97

11.10
.47
.49
.53
.40
3.03
2.23
.80
2.11
4.07

12.34
.49
.55
.64
.44
3.23
2.61
.62
2.39
4.60

10.32
.45
.42
.73
.28
2.54
2.15
.39
2.14
3.76

12.18
.47
.47
.80
.31
3.28
2.59
.69
2.59
4.26

12.27
.46
.46
.74
.30
3.58
2.79
.78
2.56
4.16

12.99
.50
.43
.76
.33
3.74
3.12
.63
2.81
4.42

11.29
.44
.38
.45
.29
3.27
2.86
.41

13.00
.50
.53
.71
.36
3.89
3.29
.61

26.47

27.01

do
do
do
do

66.29
27.84
13.51
14.33

67.77
28.86
14.47
14.40

69.05
28.70
14.39
14.31

72.52
29.99
15.47
14.52

73.94
31.16
15. 98
15.18

77.84
33.05
16.53
16.52

77.84
32.39
15.88
16.50

78.22
32.44
16.40
16.05

80.22
32.43
16.32
16.11

81.88
32.15
15.74
16.40

78.63
30.98
14. 92
16.05

80.55
30.28
14.67
15.62

i 82. 54
31.44
15.45
15.98

do
do
do
do
do
do
do
do
do
do

38.45
1.66
1.49
1.98
1.49
10.24
7.64
2.60
6.42
15.17

38.91
1.57
1.29
2.69
1.65
9.82
7.50
2.32
6.67
15.22

40.35
1.52
1.34
2.87
1.75
10.63
7.74
2.89
7.34
14.91

42.53
1.83
1.68
2.89
1.87
11.52
8.62
2.90
7.74
15.00

42.78
1.88
1.76
2.22
1.66
11.68
8.71
2.97
7.92
15.67

44.80
1.89
2.06
2.23
1.65
11.48
8.98
2.50
8.71
16.78

45.46
1.85
1.94
2.80
1.63
11.80
9.36
2.44
8.76
16.67

45.78
1.92
1.74
2.94
1.37
12.14
9.77
2.37
9.14
16.52

47.79
1.84
1.88
2.88
1.12
12.72
10.15
2.57
10.38
16.98

49.73
1.86
1.96
3.24
1.22
13.84
11.34
2.50
10.62
17.00

51.10
50.27
47.66
1.94
1.85
1.96
1.62
2.11
1.56
1.80
2.54
3.08
1.42
1.33
1.22
15.51
15.12
13.68
13.03
12.86
11.20
2.48
2.26
2.48
10.20
15.97 2 28. 08 2 28. 04

12, 685
8,386
344
1,990
1,965

13,295
8,878
393
2,000
2,024

12,714
8,378
357
1,935
2,044

11,961
7,485
391
2, 089
1,996

14, 196
9,490
313
2,150
2,243

14, 592
9, 608
458
2,286
2,240

14, 767
9,890
352
2,314
2,211

15, 364
10, 252
256
2, 499
2,357

15, 798
10, 586
430
2, 307
2,475

15, 936
10, 700
339
2,394
2,536

Corporate profits and inventory valuation adjustment total
bil $
By broad industry groups:
Financial institutions
do
Nonfinancial corporations total
do
Manufacturing total
do
Nondurable goods industries
do
Durable goods industries
do
Transportation, communication, and public
utilities
bil. $
All other industries
do
Corporate profits before tax, total
do
Corporate profits tax liability
do
Corporate profits after tax
do
Dividends
do
Undistributed profits
do
Inventory valuation adjustment
do
Net interest
do
DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
bil $
Less' Personal tax and nontax payments
do
Equals: Disposable personal income
do
Less' Personal outlays©
do
Equals: Personal saving§
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:!
All industries
bil. $
Manufacturing
do
Durable goods industries 1
do
Nondurable goods industries f
do
Nonmanufacturing
Mining
Railroad
Air transportation _
Other transportation
Public utilities ...
Electric
...
Gas and other
Communication
Commercial and other

. .

__
.

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

.

do
_do_
do
do
.do
do
do
do
do
do

U.S. BALANCE OF INTERNATIONAL
PAYMENTScf
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
military grants)
mil $
Merchandise adjusted excl military
do
Transfers under military sales contracts
do
Income on U.S. investments abroad
do
Other services
do

- 800.

!
I

.."".".

50, 626
33, 588
1,396
7,690
7,952

55, 516
36, 473
1,514
8,839
8,690

62, 962
42, 041
1, 479
9, 617
9,825

Imports of goods and services
do
-48, 127 -53,566 -59, 293 -11,832 -12, 444
Merchandise, adjusted, excl. military
do
-32, 964 -35,835 -39, 856 -8, 132 -8, 569
Military expenditures
do
-4, 535 -4,850 -4, 838 -1, 112 -1,147
-732
-761
Income on foreign investments in the U.S._do
-2, 932 -4,463 -5,110
Other services
do
-7,696 -8,418 -9, 489 -1, 856 -1,967
Unilateral transfers, net (excl. military grants);
transfers to foreigners (— )
mil. $__ -2,829 -2,835 -3, 036
-757
-675
T
Revised.
*> Preliminary.
i Estimates (corr icted for systema tic biases) for Ja i.Mar. and Apr.-June 1971 based on expected capital expenditiires of b usiness. E xpected ex2 In<eludes co iiipenditures for the year 1971 appear on p. 20 of the Mar. 197 L SURVE Y.
munication.
fSee corresponding note on p. S-l.
9 Includes inv entory va luation cidjustment.
J Revised series; explanation of revisio is and an nual anc quarterb? data biick
to 1947 appear on pp. 25 ff. of the Jan. 1970 Su^fEY; see a Iso pp. 19 ff. of th e Feb. 1 370
SURVEY.
 ©Personal outlays comprise persona i consum ption e tpenditur BS, inter est



25.8

t 17. 96 i 20. 89
7.89
6.67
3.86
3.21
4.03
3.46

pl5, 831
plO, 503
p 454
p 2,417
p 2, 457

-12, 374 -11,630 -13,934 -13,927 -14,075 -14,518 -14,759 -14,969 p-15,047
-8, 443 -7,588 -9,562 -9,281 -9,404 -9,729 -9,829 -9,987 p-10,311
-1,173 -1, 198 -1,187 -1,220 -1,245 -1,178 -1,255 -1,210 p-1,195
-762
-905 -1,071 -1,240 -1,247 -1,343 -1,320 -1,287 p- 1,160
-1,996 -1,939 -2,114 !-2, 186 -2,179 -2,268 -2,355 -2,485 p-2, 381
-800
-721
p-77Q
-690
-812
-721
-612
-768
-739
§P ersonal saving is
paid )y constimers, aiid perso lal trans for payn icnts to foreignei s.
excess of dispo sable inc ome ovei • persona outlays
f D f it a for in dividual durable and noii iurable ?oods inc ustries c omponei its appear in the
Mar., June, Se pt., and Dec. iss ues of th e SURVE Y.
c^ lore con iplete de ;ails are given in
the qilarterly 'eviews i 11 the Ma r., June, Sept., a id Dec. i ssues of ulie SUR\ EY.
«In eludes tl ic retroa 2tive pay increase for Fed sral persemnel.

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