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SURVEY OF CURRENT BUSINESS

12

November 1971

NATIONAL INCOME AND PRODUCT TABLES
1970
1970

II

III

1971

IV

II

1970

III

1969

II

1970

Seasonally adjusted at annual rates

III

1971

ii

IV

in

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

929.1

Durable goods..
Nondurable goods
Services

968.5

983.5

988.4 1, 020. 8 1,043.1 1, 060. 8 724.7

720.0

721.1

723.3

715 9

729 7

738 4

745 5

615.8

613 8

620 9

624 7

644.6

660.9

672 5 469 3

475 9

477 1

477 9

474 2

484 8

492 3

496 5

89.9
247.6
242 1

_

974.1

579.6

.

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
282.0 202.7
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 0
213 2
191 3

137.8

135.3

134.1

138.6

137.3

143.8

152.4

153.6 109.6

102.2

102.7

104.0

101.2

104.7

109.9

109 0

130.4

132 5

132 1

133 5

133 6

140 6

146.7

152 5 103 2

99 9

100 7

100 1

98 1

102 1

105 0

107 6

Nonresidential
Structures
__
Producers' durable equipment

98.6
34.5
64.1

102.1
36.8
65.4

102.1
36.6
65 6

104.8
37.3
67.5

100.8
37.1
63 7

104.3
37.9
66 3

107.0
38.2
68.8

109.3
39.1
70.1

80.1
24.5
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 8
56 3

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

43.3
42.7
.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

28 5
28 0
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

1.1
.3
.8

6.4
6.3
.1

2.3
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

13
.6
7

2.0

3.6

4.2

4.0

2.7

4.2

-.5

.5

.1

2.4

2.6

3.2

2.1

2.6

-1.0

.5

55.6
53.6

62.9
59.3

63.2
59.0

63.7
59.7

63.2
60.5

66.1
61.9

66.4
66.9

68.9
68.4

48.5
48.3

52.2
49.8

52.8
50.1

52.4
49.2

51.9
49.8

62.8
50.1

53.0
54.0

55.1
54.5

209.7

219.4

216.5

220.1

223.7

228.2

230.2

234.2 145.6

139.4

138.7

138.2

138.3

137.6

137.1

139.5

99.2
78 4
20.7

97.2
75.4
21.9

96.8
75.1
21.6

96.1
74.2
21.9

95.9
73.2
22.7

96.7
73.0
23.7

95.7
71.8
23.9

97.4
70.8
26.6

73.8

65.4

65.3

63.8

63.2

61.5

60.5

62.5

110.6

122.2

119.7

124.0

127.9

131.5

134.5

136.8

71.9

74.0

73.4

74.3

75.2

76.1

76.6

77.0

Gross private domestic investment
Fixed investment

Change in business inventories.
Nonfarm
Farm

. . .

.

Net exports of goods and services

.. ..

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

_

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, 060. 8 724.7

720.0

721.1

723.3

715.9

729.7

738.4

745.

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, 059. 7 718.2
3.2
6.4
5.7
3.7
1.1

717.7
2.3

719.1
2.0

719.4
3.9

712.8
3.1

727.1
2.6

733.5
4.9

744.
1.

457.3

468.3

468.6

474.9

467.7

483.2

494.6

501.3 389.9

383.0

385.4

387.2

376.7

386.6

393.3

397.

449.9
7.4

465.5
2.8

466.6
2.1

469.8
5.1

464.0
3.7

480.0
3.2

488.9
5.7

500.2 383.4
6.4
1.1

380.7
2.3

383.4
2.0

383.3
3.9

373.6
3.1

384.0
2.6

388.5
4.9

396.
1.

185.3
180.9
4.5

180.2
180.8
—.6

181.8
183.7
—2.0

189.6
184.9
4.7

169.7
173.1
—3.4

191. 8
188.0
3.8

194.2
191.5
2.7

197.4 165.9
198.0 162.1
-.5
3.8

156.1
156.8
—.6

158.8
160.3
-1.5

163.7
160.0
3.7

144.4
147.5
-3.1

161.9
158.7
3.2

163.4
161.1
2.3

165.
165.

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

303.8 224.0
302.2 221.4
1.6
2.6

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

231.
230.
1.

Services. ._

377.4

410.3

406.2

413.7

420.6

432.3

439.8

446.1 267.8

273.4

272.3

273.9

274.5

276.1

277.6

278.

Structures. .

94.4

95.5

93.7

94.9

100.1

105.2

108.6

113.4

63.6

63.4

62.2

64.7

67.0

67.4

69.

929.1 974.1 968.5 983.5 988.4 1,020.8 1,043.1 1, 060. 8 724.7 720.0 721.1 723.3 715.9 729.7 738.4

745..

Gross national product
Final sales ..
Change in business inventories

.

.

Goods output .
Final sales
Change in business inventories
Durable goods
Final sales
_
Change in business inventories

.
_

Nondurable goods
Final sales
__
Change in business inventories

_

67.0

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

825.3

859.8

854.8

868.3

871.6

899.5

920.1

936.4 664.0

659.4

660.4

662.8

655.4

669.0

677.5

684,

792.5
764 5
28.0

823.4
795 2
28.2

819. 7
790 9
28.8

831.3
804.1
27.1

833.5
806.4
27.1

859.6
831.5
28.1

877.9
849.0
28.9

893.9 643.5
863.1 619.3
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

661.
634.
26.

28.5

31.7

31.0

32.1

33.0

34.2

35.0

35.9

16.5

17.0

16.8

17.0

17.1

17.6

17.7

17.

4.8

5.1

6.6

7.2

6.5

4.0

4.0

3.6

4.0

4.2

4.5

5.8

5.

121.3

122.9

124.5

60.7

60.6

60.7

60.5

60.5

60.8

60.9

61.

4.3

103.8

4.6

114.4

4.1

113.8

115.2

116.8

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.



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

1969

III

IV

I

II

1971

1970
IV

III

I

II

III

IV

I

|

II

|

III

Annual total
Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
1,020.8 1, 013. 1

a, oeo.s

644.6

660.9

' 672. 5

84.9
32.7
37.6

97.6
44.1
39.5

100.8
45,7
40.4

104.7
'49. 2
'40.6

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 r 282. 0
57.0
'57.3
138.2 r 139. 2
24.3 ••25.0

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

_ 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

___

do
_do
do
_ _ do

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

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

_

-

__ _

285.7
••39.7
- 100. 7
^19.1

126.0

137.8

135.3

126.2

130.7

134.3

137.0

141.8

138.0

131.2

134.1

138.6

137.3

143.8

152.4

r 153.

6

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

132. 5
102. 1
36.8
65.4
30.4
29.7

118.5
88.8
30.0
58.8
29.7
29.2

127.6
95.0
33. 1
61.8
32.7
32. 1

132.3
102.2
36 0
66.2
30.1
29 5

130.8
100.8
36 1
64.7
30.0
29 4

132.1
102.1
36.6
65.6
29.9
29.3

116 7
107.0
38.2
68.8
39.7
39.1

r 152.

5

.1

3.7
3.3

3.2
3.0

5.7

5. 5

2.1
1.8

133.5
104. 8
37.3
67.5
28.7
28. 1

6.8
6.7

131.4
100.7
36.0
64.7
30.7
30. 1
10.4
10.3

140.6
104. 3
37.9
66.3
36.4
35.7

7.7
7.5

130.2
96.6
33.0
63.6
33.6
33. 1

133.6
100.8
37.1
63.7
32.8
32.2

2.8
2.5

122.6
91.2
31.2
60.1
31.4
30.8

_ _ do
do
do

2.5
50.6
48.1

2.0

3.4

4.0

2.7

-.5

50.8
49.5

48.0
46 6

2.7

3.5

53.1
49.7

56.9
55 7

2.8

4.2

62.9
59.3

1.2

4.2

55.6
53.6

3.6

58.3
55 5

59.2
56 6

61.5
58 0

63.2
59 0

63.7
59 7

63.2
60 5

66.1
61.9

63.4
66.9

'68.9
'68.4

Govt. purchases of goods and services, total__do
Federal. __ _
do
National defense . _ _ _
_ _ .
_. d o _
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. 2
'97.4
' 70. 8
136.8

857. 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 i
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

2.8

7 7
4 5
3. 1

8. 1
6 0
2. 1

6 6
38

10 4
6 5
4 0

5 7
3 0
2 8

4

2.8

6 8
4 7
2 1

—1 8
2 2

2 1
—2 0
4 0

51
4 7

37
—3 4
7. 1

-.6

724.2

727.8

725.2

719.8

721.1

723.3

715.9

729.7

738.4

' 745. 5
' 496. 5

Gross private domestic investment, total

do

Fixed investment
_ _ do
Nonresidential
_ _ _
__
_do_ __
Structures
do
Producers' durable equipment
_ _ -do
Residential structures
_ _ _ _ _ _
do___
Nonfarm
do
Change in business inventories
do
Nonfarm
_ _ _ _do _
Net exports of goods and services
Exports
Imports

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

_ _ _

do
do
do
_. _ do_ _
do
do

Change in business inventories
Durable goods
Nondurable goods.
_

do
do
do

422. 4
169. 6

252.9
346. 6
88. 1

7.1
4.9
2.1

7.4
7.3

7.4
4 5

2.9

— 6

3,4

8.1
8.1

6.6
6.5

1.3

1.4

5.7

.4

5.1
4.7

.4

5 2

' 109. 3
' 39. 1
'70.1
'43.3
'42.7
r
1.1

'.3
'.5

1,017 6 1,037 4 '1,059.7
488 9 '500 2
480 0
191.5 ' 198. 0
188.0
297.4 ' 302. 2
292. 0
43!). 8 ' 446. 1
432.3
108 6 ' 113. 4
105 2

5.7

3.2

2 7

38

3.0

' 1.1
' —.5
'1.6

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 inventories

bil. $__

706.6

724.7

720.0

712.3

716.5

721.4

do

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
189 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

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

' 109. 0

98 8
75.6
23.2

103 2
80 1
23.1

99 9
78 6
21.3

97
75
2?
7

9
3
6
0

100 3
76 6
23 7

109
78
24
5

103
79
24
5

103
81
22
9

2
1
1
2

103 3
81 7
21 6
4 9

100 7
79 3
21 4

100
79
21
2

100
80
20
3

102
77
24
2

1
5
6
6

105 0
78 7
26.4

' 107. 6
79.2
'28.5
' 1.3

6

6

17

o 6

3 2

2 1

2 6

-1.0

144.8
73 2
71 6

143.8
71 6

142.6
69 4
73 2

138.7
65 3
73 4

138.2
63 8

138.3
63 °
75. 2

137.6
61 5
76.1

137.1
60 5
76.6

do
do
do
do. _

6.4

6.4

2.3

7.4

8
6
1
7

do

1.0

.1

2 4

16

— 3

r

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

147.7
78 1
69.6

145. 6
73 8
71. 9

139.4
65 4
74.0

148.0
78 4
69.7

149.0
78 1
70.9

147.8
76 3
71.4

5
1
4
8

Net exports of goods and services

T

Revised.
p Preliminary.
t Revised series. Estimates of national income and product
and personal income have been revised back to 1967 (see p. 13 ft of the July 1971 SURVEY) ;

 - S - 1
448-091 O - 71


146.1
73 9
72. 1

72' 2

3

7
4
3
0

1
1
0
9

74.' 3 1

98
75
22
3

1
5
6
1

4.9

' 92 0
213.2
191 3

' .5
' 139. 5
' 62 5
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

November 1971

I

II

1970
III

IV

I

1971

m

II

IV

I

II

'

1

I
/

III

IV

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National! income totalt
bil $
Compensation of employees total
Wages and salaries total
Private
Military
Government civilian
Supplements to wages and salaries
Proprietors' income, total 9
lousiness and professional 9
Farm
Rental income of persons

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

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. 7

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

r 579. 0
r 454. 0
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

P77.2

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

P14.2
P63.0

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
23.6

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
—3 5
35.0

83.3
37.4
46.0
25.4
20.5
-5.1
35.8

^83.6
*>37 9
P45.8
25.7
*20.1
'-6.4
36.4

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
58.4

854.8
114.0
740.8
679.9
60.9

' 866. 1
'116.9
749.2
^691.5
'57.7

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

17.68
6.69
3.11
3.58

20.60
7.55
3.52
4.03

i 20. 55
7.45
3.60
3.86

i 22. 61
8.42
4.08
4.34

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
.49
.34
.34
.28
3.11
2.70
.41
2.50
3.94

13.06

13.10
.52
.43
.37
.34
4.12
3.38
.73

14.19
.54
.40
.54
.34
4.46
3.83
.64

27.33

2 7.90

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

79.32
30.46
14.21
16.25

81.61
30.12
14.06
16.06

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

51.50
2.08
1.88
2.28
1.40
14.91
12.61
2.30
11. 21
17.72

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
Durable goods industries
do
Transportation, communication, and public
utilities
bil $
A.11 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 savings
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly Or annual totals:!
All industries
bil. $
Manufacturing
do
Durable goods industries 1
do
Nondurable goods industries ^
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 1f
Nondurable goods industries ^f
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Commercial and other

do
do
do
do
do
do
do
do
do
do

do

U.S. BALANCE OF INTERNATIONAL
PAYMENTSd"
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

;g
.60

.36
3.83
3 20
.63
2.81
4.44

p 854. 6

i 82. 38 i 82. 42
20. 74
30. 22
14.45
14. 53
15.21
15.76
52. 64
2.10
1.78
1.58
1.32
16.05
13.69
2.36

52.20
2.09
1.46
2.21
1.23
16.36
13.83
2.53

2 29. 80

2 28. 86

16, 632
10, 716 pil,505

1,395

1,515

1,480

357

407

329

442

336

274

447

327

433

507

543

9 233
6,407

10, 539
7,056

11, 409
8,034

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
2, 113

3,239
2,134

-48,134 -53, 589 -59,311 -12, 384 -11.657 -13, 926 -13, 866 -14, 142 -14, 493 -14, 761 -14, 935 -15, 125 —15,400 -16,654
-32,964 -35, 830 -39,870 -8,441 - 7, 589 -9,566 -9,278 —9, 397 -9,728 -9,831 -9,992 -10,319 —10,761 —11,756 p-12,025
Merchandise, adjusted, excl. military _.
do
Direct defense expenditures
do
-4,535 -4,856 -4,851 -1,173 -1,198 -1,187 -1,221 — 1, 251 -1,182 -1,255 -1,211 -1,203 -1,174 -1,220
Payments of income on foreign investments in the
-929 -1,078 -1,242 —1,315 -1,348 -1,322 -1,284 -1,213 -1,137 -1,084
-800
U.S
mil $
-3,013 -4,564 -5,167
-7,621 -8,339 -9,425 -1,970 -1,941 -2,095 -2,125 1—2, 179 -2,235 -2,353 -2,448 -2,390 -2,328 -2, 594
Other services
do
r
SURVEY.
©Personal outlays comprise personal consumption expenditures, interest
Revised.
v Preliminary.
1 Estimates (corrected for systematic biases) for Julypaid by consumers, and personal transfer payments to foreigners.
§Personal saving is
Sept, and Oct.-Dec. 1971 i)ased on expected capital expenditures of business. Expected ex2
excess of disposable income over personal outlays.
penditures for the year 1971 appear on p. 14 ff. of the Sept. 1971 SURVEY.
Includes comHData for individual durable and nondurable goods industries components appear in the
munication.
fSee corresponding note on p. S-l.
9Includes inventory valuation adMar., June, Sept., and Dec. issues of the SURVEY.
cfRevised; more complete details,
justment.
{Revised series; explanation of revisions and annual and quarterly data back
as well as revised quarterly data back to 1966, appear on p. 24 ff. of the June 1971 SURVEY.
to 1947 appear on pp. 25 ff. of the Jan. 1970 SURVEY; see also pp. 19 ff. of the Feb. 1970




-

i---

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