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SURVEY OF CURRENT BUSINESS

May 1971

11

NATIONAL INCOME AND PRODUCT TABLES
1971

1970
1969

1970

II

IV

III

IV

1969
1969

1970

1970

IV

Seasonally adjusted at annual rates

II

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)
931.4

976.5

959.5

971.1

985.5 989.9 1020.7 727.1

724.1

724.9

727.4

720.3 732 7

577.5

61$. 7 592.6

603.1

614.4

622.1

477.1 471.7

474.0

478.1

479.6

476 6

486 6

90.0
245.8
241.6

89.4
264.7
262.6

90.8
252.0
249.8

89.1 91.9
258.8 262.6
255.2 259.9

86.6
210 5
189.5

139.8

135.7

140.2

133.2

131.4

132.3

133.0

131.6

Nonresidential
Structures
Producers' durable equipment

99.3
33.8
65.5

102.6
35.2
67.4

102.6 102.6
35.1 35.7
67.5 66.9

Residential structures
Nonfarm
Farm

32.0
31.5
.6

29.7
29.1
.6

30.4
29.8
6

8.5
8.0
.4

3.5
2.9
.6

7.2
6.5
.7

Gross national product _
Personal consumption expenditures
Durable goods..
Nondurable goods
Services

.

....

Gross private domestic investment
Fixed investment

Change in business inventories
Nonfarm
Farm

..

951.7

627.0

646.4

467.7

729.2 723.8

91.2
85.3
265.8 271.5
265.1 270.2

97.5 84.9
272.8 201.2
276.1 181.6

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 76 9
208.2 211 1
187.8 188 6

134.3

138.3

137.1

142.4

111.3

102 8

110.0

102.9

103.1

104.1

131.2

132.7

133.5

141.0

104.1

99.8

103.9

101.5

100.1

99.6

98 1

102.5

102.8
35.3
67.5

103.6
35.0
68.6

101.3
34.7
66.6

105.1
36.1
69.0

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
22.3
56.1

29.1
28.4
6

28.4
27.8
.6

29.2
28.6
.6

32.2
31.6
.6

35.8
35.2
.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

24.1
23.7
.4

1.6
.9
.7

3.1
2.6
.5

5.5
5.0
.5

3.6
3.0
.6

1.4
1.2
.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

31
26
5

1.2
1.0
.2

101 3 103 7

1.9

Exports
Imports

3.6

2.6

3.5

4.1

4.2

2.6

3.3

.2

2.4

.9

1.9

2.4

3.1

20

2.3

55.5
53.6

Net exports of goods and services

62.2
58.6

58.8
56.2

61.1
57.6

62.8
58.7

62.8
58.6

62.0
59.3

64.6
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

52.3
50.1

212.2

Federal
National defense
Other
State and local

220.5 216.3

219.6

218.4

221.0

223.2 228.7

101.3
78.8
22.6
110.8

Government purchases of goods and services...

99.7 102.1
76.6 78.8
23.1 23.3
120.9 114.2

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

98.4
74.0
24.5
130.2

141.8

146.6

145.0

140.2

141.3

140.6

75.7

67.7

73.8

71.1

67.8

66.2

65.5

63.4

72.1

74.1

72.9

73.8

73.5

74.4

74.8

76.8

147.8

140.3

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

931.4
922.9
8.5

976.5 951.7 959.5
973.1 944.5 957.9
7.2
3.5
1.6

971.1 985.5 989.9 1020.7 727.1
968.1 980.0 986.3 1019. 3 719.9
3.1
1.4
5.5
3.6
7.2

724.1 729.2 723.8
721.1 723.0 722.4
3.0
6.1
1.3

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

460.0
451.6
8.5

474.4 468.9 467.1
470.9 461.7 465.5
7.2
3.5
1.6

474.9 479.8 475.6 488.8 392.2
471.8 474.2 472.0 487.5 385.0
3.1
1.4
5.5
7.2
3.6

388.7 393.5 387.3 391.1
385.7 387.4 386.0 388.2
3.0
6.1
2.9
1.3

Durable goods
Final sales
Change in business inventories

190.2
183.9
6.4

185.1 192.7
185.3 187.4
-.2
5.3

185.3
185.5
—.3

186.6
188.5
-1.9

193.5 175.1
188.3 178.8
5.2 -3.7

196.0
193.3
2.7

170.1
164.7
5.3

160.3 170.3 162.3
160.5 165.9 162.6
4.4
-.2
-.3

162.9
164.4
-1.5

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

288.3 286.3 300.5
283.3 286.0 293.3
5.0
7.2
.3

292.8
294.2
-1.4

222.1
220.3
1.8

228.5 223.3 225.1
225.3 221.5 223.4
3.2
1.8
1.6

228.3 225.0
223.8 224.7
.2
4.5

235.6
229.2
6.4

377.6
93.8

409.6
92.6

390.3 400.1
92.3
92.5

273.9
61.4

272.8
60.9

274.8
60.5

275.0 275.8
60.8
64.7

729.2 723.8

724.9

727.4

720.3 732.7

668.1 663.1

664.2

666.8

659.4

671.6

642.4 647.6 642.1
619.3 624.7 619.5
23.2 22.8 22.6

644.0
621.0
23.0

645.9
622.9
22.9

637.8
613.7
24.1

648.9
625.5
23.4

Services
Structures

..

405.8
90.4

413.2
92.6

419.4 429.4 268.2
94.9 102.4 66.6

271.3
64.4

273.1
63.4

724.9
721.9
2.9

727.4
722.8
4.6

720.3 732.7
717.1 731.5
1.2
3.1

392.1 384.5 392.1
387.5 381.3 391.0
1.2
4.6
3.1
167.1 148.9
162.7 152.1
4.3 -3.2

165.4
163.1
2.4
226.7
227.9
-1.2

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
827.8
795.4
767.9
27.5

28.1
4.3
103.6

976.5 951.7

959.5 971.1

985.5 989.9 1020.7 727.1

863.2

844.0

848.5 858.4

871.7 874.3 901.0

828.3 810.8
800.1 783.0
28.1 27.8

814.3 824.5
785.5 796.0
28.8 28.5

30.3
4.6
113.3

29.0
4.2
107.7

29.6
4.5

30.0
3.9

111.0

112.8

836.5 837.8
808.5 810.6
28.0 27.2

862.8 646.0
835.5 622.5
27.3 23.6

663.4

31.1
5.4

32.1
6.2

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
5.8

115.5

119.7

60.7

60.7

61.1

60.7

60.7

60.6

60.8

61.1

30.5
4.7
113.9

666.4

724.1

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

J.HE 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 (t), 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

II

1971

1970

1969

III

IV

I

II

IV

| III

I

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT

865 0

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 '1,020.7

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 '646.4

do
.do
do

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

230.2
..do. _
46.1
do
115. 1
_ do
...
do. . 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 ' 272. 8
53.8 ' 54.6
134.1 ' 135. 3
23.5 '23.6

do
do.
do
do

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 ' 276. 1
37.3 '37.8
97.5
95.1
18.7
18.5

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. 4
133.5 ' 141. 0
105.1
101.3
34.7 '36.1
66.6 '69.0
32.2 '35.8
31.6 '35.2
' 1.4
3.6
'1.2
3.0

Personal consumption expenditures, total
Durable goods, total 9
Automobiles and parts . . _ _ _
Furniture and household equipment
Nondurable goods, total?
Clothing and shoes
Food and beverages
_
Gasoline and oil
.
Services total 9
Household operation
Housing
.
Transportation

.

#"'

bil.$

Gross national product, total t

_

...

Gross private domestic investment, total

85.3
33.2
38.2

'97.5
44.4
'40.0

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
35
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

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

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 ' 228. 7
98.2 '98.4
74.6 '74.0
125.0 ' 130. 2

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

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
472.0
178.8
293.3
419.4
94.9

'1,019.3
' 487. 5

184.8
270.1

7.6
5.7
2.0

8.5
6.4
2.1

3.5
—.2
36

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
1.9

3.1
-1.9
5.0

5.5
5.2
.3

3.6
-3.7
7.2

' 1.4
'2.7
'-1.4

bil $

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 ' 732. 7

.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 ' 486* 6

do
do
do

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 '86.6
211.1 ' 210. 5
188.6 ' 189. 5

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 ' 103. 7

do
do
.do
do __

98.8
75.5
23.3
6.9

104 1
80.8
23.3
7.2

99
79
20
3

8
2
6
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 ' 102. 5
78.4
76.3
21.9 '24.1
'1.2
3.1

do .

.9

.2

24

.8

1.5

1.5

-.2

-.4

-.3

.8

.9

1.9

2.4

3.1

Fixed investment
Nonresident ial
._
Structures . . . .
Producers' durable equipment
Residential structures
.
Nonfarm
Change in business inventories
Nonfarm
Net exports of goods and services
Exports
Imports
_

do. .
do
do
_do_ _
.do
do
do
do_ _
do
do
_do

do
do
do
do
do
do

Change in business inventories...
Durable goods
Nondurable goods

do
__ do. .
do

q

2.6
62.0
59.3

'3.3
'64.6
61.3

r 193.

3

' 294. 2
' 429. 4
' 102. 4

GNP in constant (1958) dollars
Gross national product total t
Personal consumption expenditures, total
Durable goods _
Nondurable goods
Services...
Gross private domestic investment, total
Fixed investment
Nonresidential
Residential structures.. _
Change in business inventoriesNet exports of goods and services

_

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

148.3
146.4
148.5
147.8
141.8
79 1
78 7
75 7
77 5
67 7
69.4
69.6
72.1
68.9
74.1
' Revised.
* Preliminary.
t Re vised series. Estimates of national income and product
and personal income have been revised back to 1967 (see p. 17 ff. of the July 1970 SURVEY);




2.0

'2.3

140.6
140.3 ' 140. 2
145.0
141.3
147.3
146.6
147.9
148.3
150.0
149.5
66.2
65.5 '63.4
71.1
67.8
73.8
75 2
78 9
79 4
78 0
75 8
74.4
74.8 '76.8
73.8
73.5
72.9
69.4
72.1
72.1
70.6
71.5
revisions prior to May 1969 for personal income appear on p. 26 ff. of the July 1970 SURVEY.
9 Includes data not shown separately.

s-1

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

1969 | 1970

1968
II

Annual total

May 1971

III

IV

I

II

1971

1970

1969

III

IV

II

I

III

I

IV

II

i

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

800.1

706.1

722.2

735.2

749.3

764.0

779.5

785.2

791.5

797.4

806.6

804.8 p 833. 2

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 ' 625. 2

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 r 560. 6
429.1 r 440. 7
19.2
18.6
97.5 '100.6
64.6
61.4
67.0
67.4
52.2
52.0
14.7
15.3
23.1
23.0

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

P82. 7

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

pl2. 7
P70.0

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

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

11.0
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

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 ' 831. 5
116.4
116.1
697.2 ' 715. 1
645. 5 ' 665. 3
51.8 '49.8

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

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 i 80. 55 i 82. 54
31.44
30.28
30.98
15.45
14.67
14.92
15.62
15.98
16.05

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

50.27
51.10
47.66
1.96
1.85
1.94
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

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 :t
All industries
bil. $
Manufacturing
do
Durable goods industries 1_
do
Nondurable goods industries 1
do
Nonmanufacturing . _
Mining,
Railroad
Air transportation .
O ther transportation
Public utilities
.
Electric
Gas and other.
Communication
Commercial and other. ...

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

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

_

U.S. BALANCE OF INTERNATIONAL
PAYMENTSd"
Quarterly Data Are Seasonally Adjusted
(Credits -f; 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

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);
-757
transfers to foreigners (-)
„
mil. $__ -2, 829 -2, 835 -3, 036
-675
r
Revised.
p Preliminary.
1 Estimates (corr 3cted for systema tic biases ) for Ja n.Mar. and Apr.-June 1971 based on expected capital expenditiires of b usiness. E xpected ex2 in(
penditures for the year 1971 appear on p. 20 of the Mar. 197 L SURVE y.
eludes co mmunication.
fSee corresponding note on p. S-l.
9Incl udes inv entory va luation adjustment.
^Revised series; explanation of revisioiis and an nual and quarterbf data b'< ick
to 1947 appear on pp. 25 ff. of the Jan. 1970 SURAnay; see a Iso pp. 19 ff . of th e Feb. 1970
SURVEY.
©Personal outlays comprise persona 1 consumption e itpenditur es, inter est




P86.4
p 38. 9
P47.5
25.8
p21. 7
r

-3.7

35.2

» 17.96 i 20. 89
7.89
6.67
3.21
3.86
4.03
3.46

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

15, 798 « 15, 969 pl5, 831
10, 586 10, 700 ' 10,467 pll, 040
430
339
p 454
2,307
2,394 p 2, 417
2,475
2,536 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 '-10,315 p 10, 75C
-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
2 268 -2.355 -2,485 p-2,381
-1,996 -1,939 -2,114 -2,186 -2,179
p-776
-800
-739
-721
-721
-812
-690
-612
-768
§P ersonal saving is
paid 1:>y constimers, aiid perso lal trans fer payments to foreignei •s.
excess of dispo sable inc ome ove * persona1 outlays,
ustries componerits appear in the
HD£ita for in dividual durable and noil durable goods inc
c?Jtfore coniplete de tails are given in
Mar., June, Sc,pt., and Dec. iss ues of th e SURVEY.
the qilarterly reviews i 11 the Ma r., June, Sept., and Dec. i ssues of the SURV EY.
c
Correc?ted.
"In eludes tlle retroa :tive pa> increase for Federal persemnel.

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