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SUEVEY OF CURRENT BUSINESS

October 1971

NATIONAL INCOME AND PRODUCT TABLES
1970
1970

II

III

1971

II

IV

1971

1970

III*

1969

1970

II

Seasonally adjusted at annual rates

III

IV

II

ID>

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)
929 1

Durable goods
Nondurable goods
Services
Gross private domestic investment

968 5

983 5

988 4 1 020 8 1 043 11 059 0 724 7

720 0

721 1

723 3

715 9

729 7

738 4

743 6

615.8

613 8

620 9

624 7

644 6

660.9

672.1 469 3

475 9

477 1

477 9

474 2

484 8

492 3

496 7

89 9
247 6
242.1

-

974 i

579.6

Gross national product..
Personal consumption expenditures

88 6
264 7
262.5

90 7
262 9
260.2

90 4
265 5
265 0

84 9
270 9
268 9

97 6
272 0
275 0

100.8
279.8
280.4

104.7 84 8
281.7 202 7
285.7 181 8

81 4
207 3
187 2

83 8
206 5
186 8

82 8
207 3
187 9

76 6
209 7
187 9

86 7
209 2
188 8

89 2
213 2
190 0

92 2
213. 2
191.3

137.8

135.3

134.1

138 6

137 3

143 8

152.4

152.9 109 6

102 2

102 7

104 0

101 2

104 7

109 9

107.7

130 4

132 5

132 1

133 5

133 6

140 6

146.7

151.4 103 2

99 9

100 7

100 1

98 1

102 1

105 0

106.0

Nonresidential
Structures
Producers' durable equipment. _

98 6
34 5
64 1

102 1
36 8
65 4

102 1
36 6
65 6

104 g
37 3
67 5

100 8
37 1
63 7

104 3
37 9
66 3

107.0
38.2
68.8

109 7
38.9
70.7

80 1
24 6
55 7

78 6
24 2
54 4

79 4
24 4
55 0

80 1
24 2
55 9

75 5
23 5
52 0

77 5
23 8
53 7

78 7
23 1
55.6

79 2
22.4
56.8

Residential structures
Nonfarm
Farm
_
_

31 8
31 2
.6

30 4
29 7
.6

29 9
29 3
.6

28 7
28 1
.6

32 8
32 2
.6

36 4
35 7
.6

39.7
39.1
.6

41.7
41.1
.6

23 1
22 6
.4

21 3
20 9
4

21 3
20 8
.4

20 0
19 5
.4

22 6
22 2
.4

24 6
24 2
.4

26.4
26.0
.4

26.8
26.4
.4

7.4
7.3
1

2.8
2.5
3

2.1
1.8
3

5.1
4.7
3

3.7
3.3
4

3.2
3.0
2

5.7
5.2
.5

1.6
.8
.8

64
6.3
1

23
2.0
3

2.0
1.7
3

3.9
3.6
3

3.1
2.8
4

2.6
2.4
2

4.9
4.4
.5

1.7
1.0
.7

2.0

36

4 2

4 0

2 7

4 2

— 5

—.5

1

24

26

32

21

26

-1 0

—.5

68.5
69.0

48.5
48.3

52.2
49.8

52.8
50.1

52.4
49.2

51.9
49.8

52.8
50.1

53.0
54.0

54.7
55.2

234.4 145.6

Fixed investment

--

.

Change in business inventories.
Nonfarm .
Farm

.

Net exports of goods and services
Exports
Imports

66.4
66.9

...

-

220.1 223.7

228.2

230.2

139.4

138.7

138.2

138.3

137.6

137.1

139.7

96.7
73 0
23.7

95.7
71.8
23.9

97.6
71.4
26.2

73.8

65.4

65.3

63.8

63.2

61.5

60.5

62.7

_

131.5

134.5

136.8

71.9

74.0

73.4

74.3

75.2

76.1

76.6

77.0

63. 2
59.0

209.7

219.4

216.5

97.2
75 4
21.9

96.8
75 1
21.6

96.1
74 2
21.9

95.9
73 2
22.7

110.6

.

Government purchases of goods and services

State and local

66.1
61.9

62.9
59.3

99.2
78 4
20.7

-

Federal
National defense
Other

63.2
60.5

65.6
53.6

122.2

119.7

124.0

127.9

63.7
59.7

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
929.1

974.1

968.5

983.5

988.4 1,020.8 1,043.1 1,059.0 724.7

720.0

721.1

723.3

715.9

729.7

738.4

743.6

921.7
7.4

971 3
2.8

966 5
2.1

978 4
5.1

984 7 1, 017. 6 1, 037. 4 1,057.4 718 2
1.6
6.4
3.2
5.7
3.7

717 7
2.3

719 1 719.4
2.0
3.9

712.8
3.1

727.1
2.6

733.5
4.9

741.9
1.7

457.3 468.3

Gross national product
Final sales
Change in business inventories _

468.6

474.9

385.4

376.7

483.2

494.6

501.7 389.9

383.0

386.6

93,3

398.1

480.0
3.2

488.9
5.7

500.1 383.4
1.6
6.4

380.7 383.4 383.3 373.6 384.0
23
20
3.9
2.6
3.1

388.5
4.9

396.4
1.7

180.2
180.8
— 6

181.8
183.7
20

189.6
184.9
47

169.7
173.1
—3 4

191.8
188.0
38

194.2
191.5
2.7

197.0 165.9
198.3 162.1
-1 2 3 8

156.1
156.8
— 6

158.8
160.3
-1 5

163.7
160.0
37

144.4 161.9
147.5 158.7
32
-3 1

163.4
161.1
2.3

165.3
166.0
—.7

. _ 272.0
269.0
2.9

288.1
284.7
3.4

286.9
282.9
4.0

285.3
284.9
.4

297.9
290.9
7.1

291.4
292.0
—.6

300.4
297.4
3.0

304.7 224.0
301.9 221.4
2.6
2.8

226.9
223.9
3.0

226.7
223.1
3.6

223.5
223.3
.2

232.3
226.1
6.2

224.7
225.3
.6

230.0
227.4
2.6

232.8
230.4
2.4

377.4

410.3

406.2

413.7

420.6

432.3

439.8

446.2 267.8

273.4

272.3

273.9

274.5 276.1

277.6

278.7

94.9

100.1

105.2

108.6

111.1

67.0

63.6

63.4

62.2

67.0

67.4

66.7

449.9
7.4

Final sales.
Change in business inventories
Durable goods
_
Final sales
Change in business inventories
Nondurable goods
Final sales
_
Change in business inventories

467.7

465.5 466.6 469.8 464.0
5.1
21
28
3.7

_. 185.3
180.9
45

Goods output

_

_

Services

94.4

Structures

95.5

93.7

387.2

64.7

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)

Gross national product

_

. . .. 929.1 974.1

988.4 1, 020. 8 1,043.1 1, 059. 0 724.7

720.0

721.1

723.3

715.9

729.7

738.4

743.6

920.1

934.5 664.0

659.4

660.4

662.8

655.4

669.0

677.5

682.4

859.6
831.5
28.1

877.9
849.0
28.9

892.1 643. 5
861.3 619.3
30.8 24.2

638.5
614.6
23.9

640.1
616.1
23.9

641.8
618.6
23.2

634.1
609.2
24.9

646.9
622.0
24.9

654.1
629.0
25.0

659.3
632.0
27.4

33.0

34.2

35.0

35.9

16.5

17.0

16.8

17.0

17.1

17.6

17.7

17.8

51

56

7.2

6.6

40

40

36

4.0

4.2

4.5

5.8

.

.

5.3

116.8

121.3

122.9

124.5

60.7

60.6

60.7

60.5

60.5

60.8

60.9

61.2

899.5

823 4
795.2
28 2

819 7
790.9
28 8

831 3
804.1
27.1

833 5
806.4
27.1

31.7

31 0

32.1

4 3

Rest of the world

868.3 871.6

28 5

Households and institutions

854.8

792 5
764.5
28 0

Business
Nonfarm
Farm

General government

968.5 983.5

825.3 859.8

Private

46

41

48

103.8

114.4

113.8

115.2

HISTORICAL STATISTICS
National income and product data for 1929-63 are in The National Income and Product Accounts of the United States, 1929-1965,
Statistical Tables (available at $1 from Commerce Department Field Offices or the Superintendent of Documents; see addresses inside
front cover). Each July SURVEY contains preliminary data for the latest 2 years and final data for the preceding 2. The July 1971 issue has
data for 1967-70. Prior July issues have final data as follows: 1964-65, July 1968; 1965-66, July 1969; 1966-67, July 1970. QBE will provide
on request a reprint of final data for the years 1964-67.
Preliminary-




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 (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

1968

1970
III

1969

| IV

I

II

1970
III

IV

I

II

1971
III

IV

Annual total

! | n

IIIP

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
1,020.8 1, 043. 1

1,059.0

644.6

660.9

672.1

84.9
32.7
37.6

97.6
44.1
39.5

100.8
45.7
40.4

104.7
49.5
40.5

265.5
52.4
132.4
22.9

270.9
54.2
134.3
23.5

272.0
54.9
135.1
23.8

279.8
57.0
138.2
24.3

281.7
57.0
139.1
25.2

260.2
35.7
90.3
17.6

265.0
36.7
91.8
18.1

268.9
36.9
94.1
18.3

275.0
37.7
96.4
18.6

280.4
38.6
98,6
18.9

285.7
39.4
100.5
19.2

134.1

138.6

137.3

143.8

152.4

152.9

140.6
104.3
37.9
66.3
36.4
35.7
3.2
3.0

116 7
107.0
38.2
68.8
39.7
39.1
5.7
5.2

151.4
109.7
38.9
70.7
41.7
41.1
1.6
.8

bil.$._

864.2

929.1

974.1

875.2

890.2

906.4

921.8

940.2

948.0

956.0

968.5

983. 5

988.4

Personal consumption expenditures, total

do

536.2

579.6

615.8

544.0

552.5

564.3

575.8

584.1

594. 2

604.0

613.8

620.9

624.7

Durable goods total 9
Automobiles and parts
_ _
Furniture and household equipment

do
do
do

84.0
37.5
34.3

89.9
40.4
36.3

88.6
37.1
37.4

86.3
38.9
35.1

87.0
39.0
35.0

89.5
40.1
35.6

90.6
39.9
37.0

89.4
40.4
36.2

90.3
41.0
36.2

88.6
37.8
37.3

90.7
39.1
37.6

90.4
38.8
37.0

230.8
46.3
115.3
19.0

247.6
50.3
122.5
21.1

264.7
52.6
131.8
22.9

233.6
47.4
116.5
19.2

236.9
47.7
117.9
19.4

241.5
48.5
. 120.4
20.2

246.4
50.6
121.9
20.8

249.4
51.0
122.9
21.5

253.1
51.1
124.8
21.9

259.4
51.6
128.9
22.5

262.9
52.1
131.4
22.6

do
do
do
do

221.3
31.2
77.3
15.5

242.1
33.7
84.0
16.5

262.5
36.1
91.2
17.9

224.1
31.5
77.8
15.7

228.6
32.1
79.7
15.8

233.4
32.8
81.4
16.2

238.9
33.0
83.0
16.4

245.2
34.1
84.7
16.6

250.8
35.0
86.9
16.8

256.1
35.1
88.7
17.5

do

126.0

137.8

135.3

126.2

130.7

134.3

137.0

141.8

138.0

131.2

Gross national product, total f

Nondurable goods, total 9
Clothing and shoes
Food and beverages
Gasoline and oil

_.

--

Services, total 9
--Household operation
Housing
Transportation

- do .- - do __
do
do

-

Gross private domestic investment, total

do
do _
- do _
do
do
do _
do
do

118.9
88.8
30.3
58.5
30.1
29.5
7.1
6.9

130.4
98.6
34.5
64.1
31.8
31.2
7.4
7.3

132.5
102.1
36.8
65.4
30.4
29.7
2.8
2.5

118.5
88.8
30.0
58.8
29.7
29.2
7.7
7.5

122.6
91.2
31.2
60.1
31.4
30.8
8.1
8.1

127.6
95.0
33.1
61.8
32.7
32.1
6.6
6.5

130.2
96.6
33.0
63.6
33.6
33.1
6.8
6.7

131.4
100.7
36.0
64.7
30.7
30.1
10.4
10.3

132.3
102.2
36.0
66.2
30.1
29.5
5.7
5.5

130.8
100.8
36.1
64.7
30.0
29.4
.4
.1

132.1
102.1
36.6
65.6
29.9
29.3
2.1
1.8

133.5
104.8
37.3
67.5
28.7
28.1
5.1
4.7

133.6
100.8
37.1
63.7
32.8
32.2
3.7
3.3

do _
__ .do
_-do_ _

2.5
50.6
48.1

2.0
55.6
53.6

3.6
62.9
59.3

3.4
53.1
49.7

1.3
50.8
49.5

1.4
48.0
46.6

1.2
56.9
55.7

2.8
58.3
55.5

2.7
59.2
56.6

3.5
61.5
58.0

4.2
63.2
59.0

4.0
63.7
59.7

2.7
63.2
60.5

4.2
66.1
61.9

-.5
66.4
66.9

-.5
68.5
69.0

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

199.6
98.8
78.3
100.8

209.7
99.2
78.4
110.6

219.4
97.2
75.4
122.2

201.6
99.8
79.1
101.8

205.7
100.6
79.4
105.1

206.5
99.2
78.3
107.3

207.8
97.7
77.5
110. 1

211.5
100.3
79.4
111.2

213.0
99.5
78.4
113.5

217.3
100.2
78.9
117.1

216.5
96.8
75.1
119.7

220.1
96.1
74.2
124.0

223.7
95.9
73.2
127.9

228.2
96.7
73.0
131.5

230.2
95.7
71.8
134. 5

234. 4
97 6
71.4
136 8

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

857.1
422.4
169.6
252.9
34G. 6
88.1

921. 7
449.9
180.9
269.0
377.4
94.4

971.3
465.5
180.8
284.7
410.3
95.5

867.5
428. 9
172.4
256.5
351.4
87.2

882. 1
433.1
174.0
259. 1
357.6
91.4

899.8
441.3
179.1
262.2
364.0
94.5

915.0
447.7
179.6
268.0
371.9
95.3

929.8
452.3
181.3
271.0
383.0
94.5

942.3
458.3
183.4
274.9
390.6
93.4

955.6
461.5
181.5
279.9
400.8
93.4

966.5
466.6
183.7
282.9
406.2
93.7

978.4
469.8
184.9
284.9
413.7
94.9

984.7
464.0
173.1
290.9
420.6
100.1

1,017.6 1, 037. 4
488.9
480.0
191.5
188.0
297.4
292.0
439.8
432.3
108.6
105.2

1,057.4
500.1
198.3
301.9
446.2
111.1

7.1
4.9
2.1

7.4
4.5
2.9

2.8
-.6
3.4

7.7
4.5
3. 1

8.1
6.0
2. 1

6.6
3.8
2.8

6.8
4.7
2 1

10.4
6. 5
4.0

5.7
3.0
28

.4
— 1.8
2.2

2.1
-2.0
4.0

5.1
4.7
.4

3.7
-3.4
7. 1

3.2
3.8
-.6

5.7
2.7
3.0

1.6
-1.2
2.8

706.6

724 7

720 0

712 3

716 5

721 4

724 2

727 8

725 2

719 8

721 1

723 3

715 9

729.7

738.4

743.6
496.7

Fixed investment
Nonresidential
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 _

.

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

do
do
do

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

bil $

452.7

469.3

475.9

457.7

460.2

465.7

469.0

469.9

472.6

474.4

477. 1

477.9

474.2

484.8

492.3

do
do .
do

81.3
197.1
174.4

84.8
202.7
181 8

81.4
207.3
187 2

83.4
198.6
175 8

83 3
199.4
177 5

85 2
201.6
178 9

85 6
202 8
180 6

84 0
203.0
182 9

84 4
203 4
184 8

82 3
205.7
186 4

83.8
206.5
186 8

82.8
207.3
187 9

76.6
209.7
187 9

86.7
209.2
188.8

89.2
213.2
190.0

92.2
213.2
191.3

do

105.2

109.6

102.2

104.9

107.7

108.4

109.4

112.4

108.2

101.0

102.7

104.0

101.2

104.7

109.9

107.7

do
do
_ do
do

98 8
75 6
23.2
6.4

103 2
80 1
23 1
6.4

99 9
78 6
21 3
2.3

97 9
75 3
22 6
7.0

100 3
76 6
23 7
7.4

102 8
78 6
24 1
5.7

103 5
79 1
24 4
5.8

103 2
81 1
22 1
9.2

103 3
81 7
21 6
4.9

100 7
79 3
21 4
.3

100 7
79 4
21 3
2.0

100 1
80 1
20 0
3.9

98 1
75 5
22 6
3.1

102 1
77 5
24.6
2.6

105 0
78 7
26.4
4.9

106.0
79.2
26.8
1.7

1.0

.1

2.4

16

— 3

— 3

6

6

17

26

32

21

2.6

147.8
76 3
71.4

146.1
73 9
72.' 1

144.8
73 2
71 fi

143.8
71 6
72' 2

142.6
69 4

138.7
65 3

138.2
63 8
74.3

138.3
63 2
75.2

137.6
61 5
76.1

Personal consumption expenditures, total . -do .
Durable goods
Nondurable goods. .
Services
Gross private domestic investment, total
Fixed investment
Nonresidential.
.
Residential structures...
Change in business inventories
Net exports of goods and services

do. .

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

147.7
145.6
139.4
148.0
149.0
73 g
65 4
78 1
78 4
78 1
69.6
71.9
74.0
69.7
70.9
r
Revised.
p Preliminary.
t Revised series. Estimates of national income and product
and personal income have been revised back to 1967 (see p. 13 ff. of the July 1971 SURVEY) ;


4 4 6 - 4 9 4 O - 71 - S-l


73 9.

73 4

-1.0
137.1
60 5
76.6

-.5

139.7
62 7
77.0

revisions prior to May 1970 for personal income appear on p. 22 ff. of the July 1971 SURVEY.
9 Includes data not shown separately.

S-l

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

Annual total

1969

1968

IV

October 1971

I

II

1970

III

IV

I

II

1971

III

IV

I

II

III*

IV

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

711.1

763.7

795.9

732.7

745.9

758.9

771.7

778.2

785.8

793.4

802.2

802.1

828.3

844 5

Compensation of employees, total

do

514.6

565.5

601.9

533.6

545.9

559.1

573.6

583.6

593.2

598.5

606.5

609.3

627 9

639 5

647 5

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

464.9
369.2
17.9
77.8
49.7
64.2
49.5
14.7
21.2

509.6
405.5
19.0
85.1
56.0
67.0
50.3
16.8
22.6

541.4
426.6
19.4
95.5
60.5
66.9
51.0
15.8
23.3

481.6
382.7
18.2
80.7
52.0
65.3
49.8
15.5
21.3

491.8
391.8
18.1
81.9
54.1
66.7
50.2
16.5
22.0

503.7
402.0
18.4
83.4
55.3
67.1
50.5
16.6
22.6

516.9
410.4
20.0
86.5
56.7
67.1
50.5
16.6
22.7

525.8
417.7
19.6
88.5
57.8
67.2
49.8
17.4
22.9

534.7
422.5
20.2
92.1
58.5
68.0
50.2
17.8
23.0

538.5
424.4
19.5
94.5
60.0
67.6
51.0
16.6
23.2

545.2
429.4
19.2
96.6
61.3
66.0
51.4
14.5
23.4

547.2
429.9
18.6
98.6
62.1
65.9
51.5
14.4
23.7

562 3
441 2
19 2
101 8
65.7
66.0
51 2
14 8
23 8

572 4
449 8
18 6
104 0
67.1
66.7
51 5
15 2
24 2

578 8
453 9
18 0
106 9
68.7
68.8
51 8
17 0
24 5

84.3

78.6

70.8

84.7

82.7

80.7

78.0

73.3

69.8

71.5

73.0

69.0

75 5

78 3

11.3
73.0
41.7
19.3
22.4

12.1
66.5
36.0
17.5
18.4

12.8
58.1
29.5
16.6
13.0

11.8
72.9
41.6
19.1
22.5

12.0
70.7
39.3
18.2
21.1

12.3
68.4
36.9
18.0
18.9

12.2
65.8
34.8
17.0
17.8

12.0
61.3
33.0
16.9
16.1

11.3
58.5
31.1
16.7
14.3

12.1
59.4
31.5
16.5
14.9

13.5
59.5
30.6
16.8
13.8

14.0
54.9
25.0
16.2
8.8

14.1
61.4
32 4
16 4
16 0

13.6
64.7
33 3
17 3
16 1

10.6
20.7

10.0
20.6

8.0
20.5

10.3
21.0

10.6
20.8

10.4
21.0

9.8
21.2

9.1
19.2

8.2
19.2

7.8
20.1

7.9
20.9

8.1
21.9

7 3
21 6

7 7
23 g

87.6
39.9
47.8
23.6
24.2
-3.3
26.9

84.2
39.7
44.5
24.4
20.0
-5.5
29.9

75.4
34.1
41.2
25.0
16.2
-4.5
33.0

89.0
40.4
48.5
24.3
24.3
-4.2
27.8

88.7
41.8
46.9
24.0
22.9
-6.0
28.6

86.9
41.0
45.9
24.2
21.6
-6.3
29.4

81.2
38.2
43.0
24.7
18.3
-3.2
30.2

80.0
37.7
42.3
24.9
17.4
-6.7
31.1

75.6
34.1
41.5
25.0
16.6
-5.8
31.8

75.8
34.5
41.3
24.9
16.4
-4.2
32.6

78.5
35.6
42.9
25.2
17.7
-5.5
33.4

71.6
32.3
39.2
25.0
14.3
-2.6
34.2

79.1
36.2
42 9
25 6
17.3
35
35 0

83 3
37.4
46 0
25 4
20.5
—5 1
35 8

688.9
97.9
591.0
551.2
39.8

750.3
116.2
634.2
596.3
37.9

803.6
115.9
687.8
633.7
54.1

712.6
107.1
605.5
568.1
37.3

726.8
113.6
613.2
580.4
32.8

743.1
117.2
625.9
592.4
33.4

759.3
116.1
643.2
600.9
42.3

772.2
117.8
654.5
611.4
43.1

784.3
116.7
667.6
621.5
46.2

803.8
118.0
685.7
631.5
54.2

809.8
113.5
696.2
638.9
57.4

816.7
115.2
701.5
643.0
58 5

834 3
112 7
721 6
663 2

854
114
740
679
60

67.76
28.37
14.12
14.25

75.56
31.68
15.96
15.72

79.71
31.95
15.80
16.15

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

1 7 co
a an

1 on KK

3 11
3.58

20 60
7 55
3 52
4.03

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

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

10 99

13 06

13 10

49
34
34
28

54
47
60
36

59
43
37
34

3 11
2 70

3 83
3 20

4 12
3 38

2 50
3 94

2 81
4 44

do
do
do
do

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

79
30
14
16

do
do
do
do
do
do
do
do
do
do

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

47.66
1.94
1.56
3.08
1.22
13.68
11.20
2.48
10.20
15.97

48 86
2 04
1 46
1 29
1 33
14 64
12 16
2 48
10 70
17 39

12, 701
8,378

11, 995
7,510

14, 222
9,490

14, 574
9,602

14, 811
9,888

15, 374
10, 241

15, 806
10,582

15, 930
10, 696

15, 795
10, 461

16 547
11 030

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
utilitiesbil. $..
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 :t
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

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

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

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 U.S. military agency sales contracts .
mil $
Receipts of income on U.S. investments
abroad
.
mil. $
Other services
do

50, 623
33, 588

55,600
36, 490

62, 903
41, 980

1 395

1,515

1,480

9,233
6,407

10, 539
7,056

11, 409
8,034

41

32
46
21
25

6 5
36 4

865
116
749
691
58

81
30
14
16

61
12
06
06

9
7
2
2
0

7 45
3 60
3.86

63

73

2

7 33

i 82
29
14
15

38
74
53
21

1 99 A1
o 4.9

4 08
4.34
14 19
54
40
54
34
4 46
3 83
64
2

7 90

i 82
30
14
15

42
22
45
76

52 64
51 50
52 20
2 10
2 08
2 09
1 78
1 46
1 88
2 21
2 28
1 58
1 32
1 23
1 40
16 05
14 91
16 36
13 69
12 61
13 83
2 36
2 53
2 30
11 21
17 72 2 29 80 2 28 86

16 632
10 716

357

407

329

442

336

274

447

327

433

507

543

2,339
1,627

2,471
1,607

2,585
1,818

2,716
1,814

2,767
1,820

2,925
1,934

2,791
1,986

2,855
2,052

2,839
2,062

2,897

3,239

Imports of poods and services
do
— 48 134 -53, 589 -59,311 -12, 384 -11. 657
-32,964 -35, 830 -39,870 -8,441 -7.589
Merchandise, adjusted, excl. military
do
Direct defense expenditures
do
-4,535 -4,856 -4,851 -1,173 -1,198
Payments of income on foreign investments in the
-929
-800
U.S .
mil $ -3,013 -4,564 -5, 167
-7.621 -8,339 -9,425 -1,970 -1,941
Other services
do
r
Revised.
* Preliminary.
i Estimates (corrected for systematic biases) for JulySept, and Oct.-Dec. 1971 based on expected capital expenditures of business. Expected ex2
penditures for the year 1971 appear on p. 14 ff. of the Sept. 1971 SURVEY.
Includes communication.
fSee corresponding note on p. S-l.
9 Includes inventory valuation adjustment,
t Re vised series; explanation of revisions and annual and quarterly data back
Digitized forto 1947 appear on pp. 25 ff. of the Jan. 1970 SURVEY; see also pp. 19 ff. of the Feb. 1970
FRASER



CO A

8
0
8
9
9

25 7

2 113

2 134

-13, 926 -13, 866 -14, 142 -14, 493 -14, 761 -14, 935 15, 125 —15,400 —16 654
-9,566 -9,278 —9, 397 -9,728 -9,831 -9,992 -10, 319 —10,761 —11 756
-1,187 -1,221 —1, 251 -1,182 -1,255 -1,211 -1,203 —1 174 -1 220

-1,078 -1,242 —1,315 -1,348 -1,322 -1,284 -1,213 -1 137 —1, 084
-2,095 -2, 125 —2, 179 -2,235 -2,353 -2,448 -2,390 -2.328 -2, 594
SURVEY.
©Personal outlays comprise personal consumption expenditures, interest
paid by consumers, and personal transfer payments to foreigners.
§Personal saving is
excess of disposable income over personal outlays.
^[Data for individual durable and nondurable goods industries components appear in the
Mar., June, Sept., and Dec. issues of the SURVEY.
d"Revised; more complete details,
as well as revised quarterly data back to 1966, appear on p. 24 flf. of the June 1971 SURVEY.

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