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SUEVEY OF CUEEENT BUSINESS

10

January 1972

NATIONAL INCOME AND PRODUCT TABLES
1970
1970

1971 P .

III

1971
IV

II

1970
1970

III

1971

IV

III

Seasonally adjusted at annual rates

1971
II

Ill

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 .

974 I 1 046 8

Durable goods .
Nondurable goods
Services
Gross private domestic investment. .

.

988 4 1 020 8 1 040 0 1 053 4 1 073 0 720 0

739 5

723 3

715 9

729 7

735 8

740 7

751 7

662 2

620 9

624 7

644 9

657 4

668 8

677 7

475 9

491 9

477 9

474 2

484 8

489 4

494 3

499.2

100 4
278 8
283 0

90 4
265 5
265 0

84 9
270 9
268 9

96 6
273 2
275 0

99 1
277 8
280 5

102 8
280 2
285 8

103 2
283 9
290 6

81 4
207 3
187 2

89 3
211 6
191 0

82 8
207 3
187 9

76 6
209 7
187 9

85 9
210 0
188 9

87 8
211 5
190 1

91 2
211 6
191 4

92 4
213.4
193 4

135 3

. .

983 5

615 8
88 6
264 7
262 5

Personal consumption expenditures

152 9

150 8

156 5

102 2

107 9

104 0

101 2

104 3

110 0

106 7

110.4

100 1

105 9

107 2

108.6

150 8

138 6

137 3

143 3

132 5

148 7

133 5

133 g

140 2

148 3

152 0

154 6

99 9

105 9

98 1

101 8

102 1
36 8
65 4

108 2
38 1
70 1

104 8
37 3
67 5

100 8
37 1
63 7

104 7
36 7
68 1

108 3
38 5
69 8

109 3
38 7
70 6

110 4
38 6
71 8

78 6
24 2
54 4

78 8
22 4
56 5

80 1
24 2
55 9

75 5
23 5
52 0

77 7
22 6
55 0

79 1
22 9
56 2

78 9
22 1
56 8

79.6
21.8
57.8

Residential structures. „
Nonfarnfi
Farm .
.

30.4
29 7
6

40.6
40 1
5

28 7
28 1
6

32 8
32 2
6

35 4
35 0
4

40 0
39 5
'5

42 7
42 1
6

44 2
43 6
6

21 3
20 9
4

27 0
26 7
4

20.0
19 5
.4

22.6
22 2
4

24.1
23 8
3

26.7
26 4
.3

28.3
27 9
.4

28.9
28.5
.4

Change in business inventories
"Monfarm
Farm ...

28
25
3

21
15
6

51
47
3

37
33
4

31
2 9
2

46
41
5

—1 2
20
8

19
10
9

23
20
3

2 0
15
.5

39
36
.3

31
28
.4

25
23
.2

41
3.6
.5

— 5
—1.2
.7

1.9
1.1
.8

Fixed investment
Nonresidential
Structures
Producers' durable equipment. .

._

.. _ .

36

Exports
Imports

State and local

47

1

o

—2 0

2 4

5

32

21

3.0

.5

.1

—.7

63.2
60 5

66.2
61 5

66.5
66 4

68.2
68 2

61.2
63 2

52.2
49 8

52.3
51 8

52.4
49.2

51.9
49.8

52. 9
49.8

53.1
53.7

54.5
54.4

48.6
49.4

233 1

220 1

223 7

227 9

229 6

233 8

240 9

139 4

139 3

138 2

138 3

137 6

137.0

139.6

142.9

97 6
71 4
26 2

96 1
74 2
21 9

95 9
73 2
22 7

96 4
72 6
23 7

96.0
71 4
24 6

97 6
70 2
27 4

100.6
71 5
29 2

65.4

62.3

63.8

63.2

61.3

60.7

62.7

64.3

122 2

Federal
National defense
Other

27

63.7
59 7

219 4

. .

Government purchases of goods and services

40

65.5
64 8

97.2
75 4
21 9

.

7

62.9
59 3

Net exports of goods and services

135 4

124 0

127 9

131 6

133 6

136 2

140 3

74 0

77 0

74 3

75 2

76 3

76.3

76.8

78.6

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

974 1 1 046 8 983 5

Durable goods
__ __
Final sales
Change in business inventories
Nondurable goods
Final sales
Change in business inventories
Services
Structures

.

729 7

735.8

740.7

751.7

719.4
39

712.8
31

727.2

741.2
—.5

749.9

2.5

731.7
4.1

494 2

474 9

467 7

485.5

490.8

496.2

504.1

383.0

393.5 387.2

376.7

388.1

390.2

394.9

401.3

492 1
2.1

469 8
5.1

464 0
37

482 4
3.1

486 2
4.6

497 4
-1.2

502.3 380.7
1.9

2.3

391.5
2.0

383.3 373:6
3.9

3.1

385.6

2.5

386.1
4.1

394.1
-.5

399. 5
1.9

180.2
180 8
— 6

.

715 9

737.5

2.8

.

723 3

717. 7
2 3

465.5

_

739 5

984 7 1,017 7 1,035 4 1, 054 6 1, 071. 2
3i
—1 2
19
37
46

193 7
193 3
4

189 6
184 9
47

169 7
173 1
34

192.8
189 4
35

193.0
190 6
23

193.9
196 4
-2 5

195.1
196 9
—1 9

156.1
156 8
— 6

163.5
163.0
5

163.7
160.0
3.7

144.4
147.5
—3.1

162. 4
159.6
2.8

162.3
160.2
2.2

163.7
165.3
—1.6

165.6
167.0
-1.4

288.1
284 7
3.4

300.5

285.3

297.9

292. 7
293 1
—.4

297.8

302.3

309.0 226.9
305.3 223.9

230.0 223.5 232.3 225.7
228.5 223.3 226.1 226.0

227.8
225.9

230.7
229.6

235. 7

290 9
7.1

410. 03

Final sales... .
_.
Change in business inventories

720 0

978 4
51

468.3

Goods output.

988 4 1 020 8 1 040 0 1 053 4 1 073 0

971.3 1,044 7
28
21

Gross national product
Final sales
Change in business inventories

443.7

413.7

420.6

432.3

441.0

95.5

108.9

94.9

100.1

102.9

108.2

298 7
1.7

284 9
.4

295 5
2.3

301 0
1.3

2 0

2.0

232.4

3.3

1.5

.2

6.2

-.3

273.4

278.9

273.9

274.5

276.2

278.4

278. 9

282.1

63.6

67.1

62.2

64.7

65.4

67.2

67.3

68.3

751.7

3.7

3.0

446.3

455.2

110.8

113.8

1.1

1.9

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..
Best of the world
General government
p

983 5

988 4 1 020 8 1 040 0 1 053 4 1 073.0

720.0

739.5 723.3 715.9 729.7

735.8

740.7

859.8

922.8

868 3

871.6

899.2

916.9

928.9

946.1

659.4

678.3 662.8

655.4

668.9

674. 9

679.4

690.2

823 4

833.5
806.4

859.2

24.9

25.0

630.1
26.8

666.7

621.7
24.9

656.9

25.6

641.8
618.6
23.2

646.6

28.9

655.4
629.8

634.1

831.1
28.1

886 9
856.1
30.8

638.5

27.1

874.6
845.7

902.2

28.2

831 3
804.1
27.1

651. 4

795.2

880 7
850 8
30.0

31.7

35 5

32 1

33.0

34.2

35.0

35.9

37.0

17.0

17.8

17.0

17.1

17.6

17.7

17.8

18.2

46

65

4g

51

58

73

60

6.9

4.0

5.1

4.0

4.2

4.7

5.8

4.7

5.3

114. 4

124.0

115 2

116.8

121.5

123.1

124.5

127.0

60.6

61.2

60.5

60.5

60.8

60.9

61.3

61.5

974 1 1 046 8

870.1
32.0

614.6
23.9

609.2

626.4

641.1
25.6

Preliminary.

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. BEA 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

1970

1968
IV

1969
I

III

II

1971

1970
IV

II

I

Annual total

III

IV

I

III

II

I IV* i

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
864.2

929.1

974.1

890.2

906.4

921.8

940.2

948.0

956. 0

968.5

983.5

988. 4 1, 020. 8 '1,040.0 '1,053.4 1, 073. 0

Personal consumption expenditures, total. _._do__

536.2

579.6

615.8

552.5

564. 3

575.8

584.1

594.2

604.0

613.8

620.9

624.7

f 644. 9

Durable goods, total 9
-.- _^do
Automobiles and parts
do
Furniture and household equipment
do

84.0
37.5
34.3

89.9
40 4
36.3

88.6
37 1
37.4

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

84.9
32.7
37.6

'96.6
'43 8
'38.8

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

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

265
52
132
22

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

228 6
32.1
79 7
15 8

233
32
81
16

238
33
83
16

245
34
84
16

250
35
86
16

256
35
88
17

260
35
90
17

2
7
3
6

265 0
36 7
91 8
18 1

268
36
94
18

126.0

137.8

135.3

130.7

134.3

137. 0

141.8

138.0

131.2

134.1

138.6

137.3 ' 143. 3 ' 152. 9 ' 150. 8

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

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
68
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
21
1.8

133 5
104.8
37 3
67 5
28.7
28 1
51
4.7

133 6 ' 140. 2 ' 148. 3
100.8 > 104. 7 ' 108. 3
37 1 '36.7 '38.5
63 7 f 68. 1 '69.8
32.8 '35.4 '40.0
32 2 7-35 o '39.5
r
.'4.6
37
31
r
29
3.3
'4'.1

do
do
do

2.5
50.6
48.1

2.0
55 6
53.6

3.6
62 9
59.3

1.3
50 8
49.5

1.4
48 0
46 6

12
56 9
55 7

2 8
58 3
55 5

2.7
59 2
56 6

35
61 5
58 0

4 2
63 2
59 0

40
63 7
59 7

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

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.
95
73
127

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

do
do
do
do
do
do

857.1
422 4
169.6
252.9
346 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

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 9
93 7

978
469
184
284
413
94

4
8
9
9
7
9

984 7
464 0
173 1
290 9
420 6
100 1

do
do
do

7.1
49
2.1

7.4
4 5
2.9

2.8
— 6
34

8.1
6 0
21

6.6
38
28

6.8
47
2 l

10.4
6 5
4 0

5.7
30
28

.4
18
2 2

2.1
2 0
4o

5.1
4 7
4

3.7
34
71

bil $

706 6

724 7

716 5

721 4

724 2

727 8

725 2

719 8

791 1

723 3

715 9

729 7

do.. _

452.7

469.3

720 0
^
475.9

460. 2

465 7

469 0

469 9

472 6

474 4

477 1

477 9

474 2

484 8 r 489 4

do
do
do

81 3
197 1
174.4

84 8
202 7
181 8

81 4
207 3
187 2

83 3
199 4
177 5

85 2
9
01 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

r

r 210 0
r Igg Q

do

105.2

109.6

102.2

107.7

108.4

109.4

112.4

108.2

101.0

102.7

104.0

101.2

' 104. 3 '110.0

98 8
75 6
23.2
6.4

103 2
80 1
23 1
6.4

99 9
78 6
21 3
2.3

100 3
76 6
23 7
7.4

102 8
78 6
24 1
5.7

103 2
81 1
22 1
9.2

100 7
79 4
21 3
2.0

100 1
80 1
20 0
3.9

98 1
75 5
22 6
3.1

.1

2 4

— 3

•—' 5

103 3
81 7
21 6
4.9
6

100 7
79 3
21 4
.3

1.0

103 5
79 1
24 4
5.8
_ 3

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

__-_bil.$_-

-

.

_

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

Change in business inventories
Durable goods
Nondurable goods..

.

do.___

4
8
4
2

9
0
0
4

2
1
7
6

8
0
9
8

1
1
7
5

5
4
4
9

270 9 r 273
54.2 r 55
134 3 r 134
23 5
23

r 96 5

18 6

27
63 2
60 5

r
r

'4.7
66.2
61.5

7 ' 227. 9
9 ' 96 4
2 r 72 6
9 r 131 6

677.7

' 99. 1 ' 102. 8 103.2
4 5 3 ' 48 2 47 5
' 39. 4 ' 39. 6 40.5
r

2 r 277 8 ' 980 2
4
57 0 r 57 4
4 r 135 3 r 137 3
8 r 23 8 r 24 5

275 0
37 7

9
9
1
3

' 657. 4 ' 668. 8.

r

283 9
58 0
138 6
25 0

280 5 ' 285 8 290 6
38 9 ' 39 9 40 6
102 9
100 7
r 19 2
r 19 0
19 4
T

r 98 7

156.5

154.6
' 152. 0
109.3
110.4
38.6
'38.7
71.8
'70.6
' 42. 7 44.2
43.6
'42.1
1.9
' —1.2
1.0
' - 2. 0
'.0
' 68. 2
'68.2

'.1
' 66.5
'66.4

-2.0
61.2
63.2

240.9
'• 229. 6 '233.8
100.6
'96.0 -.'97.6
71.5
' 71.4 '70.2
' 133. 6 ' 136. 2 140.3

-1,017.7 '1,035.4 '1,054.6 1,071.2
r 482 4 ' 486 2 ' 497 4 502 3
r
189 4 T 190 6 ' 196 4 196 9
' 293. 1 ' 295. 5 ' 301 0 305.3
455 2
432 3 ' 441 0 r 446 3
' 102 9 r 108 2 ' 110 8 113 8

'3.1

r

r 3 5
4

'4.6 ' -1.2
'23 r 25
'23
'13

1.9
—1 9
37

GNP in constant (1958) dollars
Gross national product, total f
Personal consumption expenditures, total
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
do
do
do.___
.do

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

147.7
139.4 149. 0
145.6
147.8
78 1
73 8
65 4
78 1
76 3
69! 6
7L9
74.0
70.9
71.4
'Revised.
v Preliminary.
i Preliminary annual totals for 1971 for components shown
in this column appear on pp. 10-13 of this issue of the SURVEY.
f Revised series. Estimates
of national income and product and personal income have been revised back to 1967 (see




r

85 9

1Q1 g

r 77 7
r 24 1

'2.5

r 735 g

r 87 8
r 211 5
r 190 1

' 740 7 751 7
r

494 3

499.2

92 4
' 211 6 213 4
191 4
193 4
r 91 2

r

'106.7

110.4

' 105 9 ' 107 2 108 6
r 79 i
79 6
r 78 9
r 2fi 7
28 9
r 28 3
1.9
'4.1 '-.5

7
r 1
r 3 0
' 5
142. 9
137.6 ' 137. 0 ' 139. 6
146.1
142. 6
138.2
138.3
144.8
138.7
143.8
64 3
73 2
63 2 r fil 3 r 60 7 r 62 7
73 9
71 6
65 3
63 8
69 4
78.6
72. 1
71.6
72*2
73.2
73 4
74 3
75.2 '76.3 '76.3 '76.8
p. 13 fl. of the July 1971 SURVEY); revisions prior to May 1970 for personal income appear
on p. 22 fl. of the July 1971 SURVEY.
9 Includes data not shown separately.
6

17

26

32

2 i

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

1965

! 1969

1970

Annual total

January 1972

1969
I

II

1970
III

IV

I

II

1971
III

I

IV

II

1972
III

IV * >

3

I

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
' Quarterly Data Seasonally Adjusted at Annual Rates
National income total f
bil $
Wages and salaries total
Private
Military
Government civilian
Supplements to wages and salaries
Proprietors' income, total 9
P>usiness and professional 9
Farm
_
-Rental income of persons

711 1

763.7

795.9

745.9

758.9

771.7

778.2

785.8

793.4

802.2

802.1

' 831. 7 ' 847. 3 ' 855. 2

do

514.6

565.5

601.9

545.9

559.1

573.6

583. 6

593.2

598.5

606.5

609.3

' 627. 3 ' 638. 0

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

609.6
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

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 ' 561.4
429.9 r 440. 3
18.6
19.2
98.6
101.8
r
62.1
65. 9
r
65.9
66.4
r
51.5
51.6
14.4
14.8
23.7
23.8

84.3

78.6

70.8

82.7

80.7

78.0

73.3

69.8

71.5

73.0

69.0

'79.5

'82.5

'80.0

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

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

rl4.2
'65.3
-34.4
r
17.2
rl7.2

'13.7
'68.9
'35.0
'18.1
'17.0

14.2
'65.8
'33.0
' 18.1
' 14.8

10.6
20 7

10.0
20.6

8.0
20.5

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

'8.4
'22.5

'8.5
'25.3

'8.5
'24.3

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

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

76.6
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

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

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

67.76
28.37
14.12
14.25

75.56
31.68
15.96
15.72

79.71
31.95
15.80
16.15

16.04
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

20.14
7.31
3.40
3.91

i 23. 04
8.66
4.26
4.40

i 19. 48
6.88
3.50
3.38

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

9.45
.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

12.83
.55
.42
.39
.37
4.07
3.35
.71
2.62
4.42

14.38
.56
.45
.54
.36
4.19
3.54
.65

12.61
.50
.50
.57
.33
3.48
3.05
.43

2.50
3.94

13.06
.54
.47
.60
.36
3.83
3.20
.63
2.81
4.44

28.28

2 7.24

do
do
do
do

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

80.75
29. 19
13.76
15.43

i 84. 02
31.12
15.11
16.01

i 87. 14
31.26
15. 94
15.31

do
do
do
do
do
do
do
do
do
do

Compensation of employees, total

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

51.56
2.23
1.72
1.68
1.48
15.87
13.56
2.30
10.73
17.85

52.90
2.18
1.64
2.20
1.30
15.37
12.78
2.58

55.88
2.09
2.12
2.18
1.60
16.32
13. 71
2.61

2-30.20

231.57

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, an d~ 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
Enusls" 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

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

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

' 645. 6

'571.0 ' 577. 3
' 448. 4 ' 452. 3
18.0
18.6
104.0
106.9
'67.0
'68.3
'67.2
'69.2
' 51. 9 ' 52 3
15.2
17.0
24.2
24.5

656.5
586.9
460. 2
18.6
108.1
69.6
70.5
52 5
18.1
24.6

'83.0 '86.9 '85.8
'38.3 '39.1 '37.5
'44.8 '47.8 '48.2.
25.6
25.4
25.7
25.3
'19.2 ' 22.4 '22.5
-4.0
-3.5 ' — 4 . 4 ' -5.8
'34.8 '35.4 ' 35. 9 36.4

' 833. 5 '853.4 ' 864. 6
' 111.6 ' 113.8 ' 116.0
' 722. 0 ' 739. 6 ' 748. 5
' 663. 3 ' 676. 0 ' 687. 6
' 58 6 ' 63 6 '61 0

.49
.34
.34
.28

3.11
2.70
.41

876.6
121.8
754.8
696.5
58 4

U.S. BALANCE OF INTERNATIONAL
PAYMENTSc?
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
50 623
military grants)
mil $
Merchandise adjusted excl military
do
33 588
Transfers under U.S. military agency sales conReceipts of income
abroad
Other services

on

U.S. investments
mil. $ _
_
_ _ do

9,233
6,407

55 600
36 490

62, 903
41, 980

1 515

1 480

407

329

442

336

274

447

327

433

507

545

p466

10, 539
7, 056

11, 409
8,034

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

2,897

3,241

p 2, 898

Imports of goods and services .
__ _do_ __ -48, 134 -53, 589 -59,311 -11. 657 -13, 926
-32, 964 -35, 830 -39,870 -7,589 -9,566
Merchandise, adjusted, excl. military
do
Direct defense expenditures
do
4 535 — 4 856 — 4 851 — 1 198 — 1 187
Payments of income on foreign investments in the
-929 -1,078
U.S
. .mil. $ -3, 013 -4,564 -5,167
-7,621 -8,339 — 9,425 — 1,941 — 2,095
Other services _
do
' Revised.
p Preliminary.
i Estimates (corrected for systematic biases) for Oct.Dec. 1971 and Jan.-Mar. 1972 based on expected capital expenditures of business. Expected ex2
penditures for the year 1971 appear on p. 18 of the Dec. 1971 SURVEY.
Includes communication.
3 See note 1 on p. S-l.
fSee corresponding note on p. S-l.
9Includes
inventory valuation adjustment.
JRevised series; explanation of revisions and annual and
quarterly data back to 1947 appear on pp. 25 ff. of the Jan. 1970 SURVEY; see also pp. 19 fT. of




16, 636 p 17,054
10, 720 pll,481

-13, 866 -14, 142 -14, 493 -14, 761 -14, 935 -15, 125 -15,377 -16,610 p-17,060
-9,278 —9, 397 -9,728 -9,831 -9,992 -10, 319 -10,761 —11,760 p— 12,018
— 1 221 —1, 251 — 1 182 — 1,255 -1,211 -1,203 -1,174 -1,214 p— 1,181

-1,242 —1, 315 -1,348 -1,322 -1,284 -1,213 -1.114 -1,072 P- 1,228
1 — 2,125 —2, 179 — 2,235 — 2,353 — 2, 448 — 2,390
the Feb. 1970 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.
IfData for individual durable and nondurable goods industries components appear in the
Mar. June Sept. and Dec. issues of the SURVEY.
cf Revised; more complete details,
as well as revised quarterly data back to 1966, appear on p. 24 ff. of the June 1971 SURVEY.

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