View PDF

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

SURVEY OF CURRENT BUSINESS

July 1971

NATIONAL INCOME AND PRODUCT TABLES
1971

1970
IV

III

1970

1970
1969

II

1970

Seasonally adjusted at annual rates

1971
III

IV

Seasonally adjusted at annual rates

Billions of current dollars

Billions of 1958 dollars

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

929 1

Personal consumption expenditures .
Durable goods
Nondurable goods
Services

579
89
247
242

Gross private domestic investment

6
9
6
1

974 1

956 0

615 8
88 6
264 7
262 5

604 0
88 6
259.4
256 1

968 5
613 8
90 7
262 9
260 2

983.5
620
90
265
265

9
4
5
0

988 4 1 020 8 1 040 5 724 7
624
84
270
268

7
9
9
9

644
97
272
275

6
6
0
0

660
100
279
280

1
0
4
7

720 0

469 3
84 8
202 7
181 8

475
81
207
187

9
4
3
2

719 8

721 1

723 3

715 9

729 7

736 3

474 4
82*3
205 7
186 4

477 i
83 8
206. 5
186 8

477 9
82 8
207 3
187 9

474 2
76 6
209 7
187 9

484 8
86 7
209 2
188 8

491 5
88 5
212 7
190 2

137 8

135 3

131 2

134 1

138 6

137 3

143 8

150 1

109 6

102 2

101 0

102 7

104 0

101 2

104 7

108 3

130 4

132 5

130 8

132 1

133 5

133 6

140 6

145 4

103 2

99 9

100 7

100 7

100 1

98 1

102 1

104 3

Nonresidential .
Structures
._
.
Producers' durable equipment

98 6
34 5
64 1

102 1
36 8
65 4

100 8
36 1
64 7

102 1
36 6
65 6

104 8
37 3
67 5

100 8
37 1
63 7

104 3
37 9
66 3

106 1
37 8
68 3

80 1
24 5
55 7

78 6
24 2
54 4

79 3
24 6
54 7

79 4
24 4
55 0

80 1
24 2
55 9

75 5
23 5
52 o

77 5
23 8
53 7

78 2
23 0
55 2

Residential structures
Nonfarm
Farm

31 8
31 2
6

30 4
29 7
6

30.0
29 4
6

29 9
29 3
g

28 7
28 1
6

32 8
32 2
6

36 4
35 7
5

39 3
38 7
6

23 1
22 6
4

21 3
20 9
4

21 4
21 0
4

21 3
20 8
4

20 0
19 5
4

22 6
22 2
4

24 6
24 2
4

26 1
25 7
4

7 4
73
1

2.8
25
3

.4
1
3

21
18
3

51
4 7
3

37
33

32
30
2

4 7
42
5

6 4
63
'1

23
20
3

3

4

2 0
17
3

39
36
3

31
28
4

26
24
2

40
36
4

Fixed investment.

Change in business inventories
Nonfarm .
Farm .

.. . . .

o
2

2 0

.

State and local

4 0

2 7

4 2

1

1

2 4

17

26

32

2 1

2 6

_7

63 2
59 0

63 7
59 7

63 2
60 5

66 1
61 9

65 8
65 7

48 5
48 3

52 2
49 8

51 6
49 9

52 8
50 1

52 4
49 2

51 9
49 8

52 8
50 1

52 5
53 2

219.4

217.3

216.5

220.1

223.7

228.2

230.2

145.6

139.4

142.6

138.7

138.2

138.3

137.6

137.2

97.2
75 4
21 9

100 2
78 9
21 3

96 8
75 1
21 6

96 1
74 2
21 9

95 9
73 2
22 7

96 7
73 0
23 7

96 0
72 0
24 0

73 8

65 4

69 4

65 3

63 8

63 2

61 5

60 6

110 6

Federal
National defense
Other
_.

4 2

61 5
58 0

99.2
78 4
20 7

Government purchases of goods and services

35

62 9
59 3

209.7

Exports
Imports

36

55 6
53 6

Net exports of goods and services

122 2

117 1

119 7

124 0

127 9

131 5

134 2

71 9

74 0

73 2

73 4

74 3

75 2

76 1

76 6

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

929 1

Goods output.

Durable goods
Final sales -.Change in business inventories

_ .-_

Nondurable goods
Final sales _
Change in business inventories

_

Services

.

Structures

988 4 1 020 8 1 040 5 724 7

720 0

719 8

721 1

723 3

715 9

729 7

736

978 4 984 7 1 017 6 1 035 8 718 2
51
32
4 7
37
6 4

717 7
2 3

719 5
3

719 1
20

719 4
39

712 8
31

727 1
26

732
4

457.3

-

983 5

966 5
21

468.3

461.9

468.6

474 9

467.7

483.2

493 0

389 9

383.0

382.7

385.4

387.2

376.7

386.6

391.

465 5
28

461 5
4

466 6 469 8 464 0
21
51
37

480 0
32

488 3
4 7

383 4
6 4

380 7
23

382 4 383 4
3
2 0

383 3
39

373 6
3.1

384 0
2.6

387
4.

185 3
._. 180.9
4 5

.

968 5

955 6
4

449 9
74

-.

956 0

971 3
28

180 2
180 8
— 6

179 8
181 5
—1 8

181 8
183 7
—2 0

189 6
184 9
4 7

169 7
173 1
—3 4

191 8
188 0
38

193 8
190 5
33

165 9
162 1
38

156 1
156 8
— 6

157 7
159 4
—1 6

158 8
160 3
—1 5

163 7
160 0
37

144 4
147.5
—3 1

161 9
158.7
32

163
160.
2

272 0
269 0
29

288 1
284.7
34

282 1
279 9
2 2

286 9
282 9
4o

285 3
284 9
4

297 9
290 9
7 1

291 4
292 0
— 6

299 2 224 0
297 8 221 4
26
14

226 9
223 9
30

225 0 226 7
223 0 223 1
19
36

223 5
223 3
2

232 3
226.1
6 2

224 7
225.3
6

228.
227.
1

- 377.4

410.3

400.8

406.2

413.7

420.6

432.3

439.9

267.8

273.4

273.0

272.3

273.9

274.5

276.1

277.

94.4

-

Final sales
Change in business inventories .

974 1

921 7
7 4

Final sales
Change in business inventories

95 5

93 4

93 7

94 9

100 1

105 2

107 7

67 0

63 6

64 1

63 4

62 2

64 7

67 0

67

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
929.1
..

.

Business
Nonfarm
Farm
Households and institutions
Rest of the world. .
General government

_.

._

. _

_

956.0

968 5

983 5

988 4 1,020 8 1,040 5

724 7

720 0

719.8

721. 1

723.3

715.9

729.7

736.

859.8

844.5

854.8

868.3

871.6

899 5

917.4

664.0

659.4

659.1

660.4

662.8

655.4

669.0

675.

792 5
764 5
28 0

- - - - -

974.1

825.3

Gross national product
Private

823 4
795 2
28 2

809 1
779 3
29 8

819 7
790 9
28 8

831 3
804 1
27 1

833 5
806 4
27 1

859 6
831 5
28 1

876 8
847 8
28 9

643 5
619 3
24 2

638 5
614 6
23 9

637 9
614 4
23 5

640 1
616 1
23 9

641 8
618 6
23 2

634 1
609 2
24.9

646.9
622 0
24.9

653.
628.
25.

28.5

31.7

30.9

31.0

32.1

33.0

34.2

35.0

16.5

17.0

17.1

16.8

17.0

17.1

17.6

17.

4.3

4.6

4.5

4.1

4.8

5.1

5.6

5.7

4.0

4.0

4.1

3.6

4.0

4.2

4.5

4.

103.8

114.4

111.6

113 8

115.2

116.8

121 3

123.1

60.7

60.6

60.7

60.7

60.5

60.5

60.8

61.

p 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 j^ears 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.



July 1971

SURVEY OF CURRENT BUSINESS

13

1.—Gross National Product and National Income
Table 1.1.—Gross National Product

1967

1969

1968

1967

1970
I

II

1968
III

IV

Millions of dollars

I

II

1969
III

IV

I

1970

II

III

IV

I

II

III

IV

Billions of dollars, seasonally adjusted at annual rates

793,927 864,202 929,095 974, 126

774.4

784.5

800.9

815.9

834.0

857.4

875.2

890.2

906.4

921.8

940.2

948-0

956.0

968.5

983.5

988.4

Personal consumption expenditures
492,066 536, 178 579,595 615,840

480.7

489.6

495.5

502.5

519.3

529.0

544.0

552.5

564.3

575.8

584.1

594.2

604.0

613.8

620.9

624.7

69.8
213.1
197.8

73.6
214.2
201.8

73.7
215.5
206.3

75.3
217.1
210.1

80.4
225.0
213. 9

82.4
227.8
218.8

86.3
233.6
224.1

87.0
236.9
228.6

89.5
241.5
233.4

90.6
246.4
238.9

89.4
249.4
245.2

90.3
253.1
250.8

88.6
259.4
256.1

90.7
262.9
260.2

90.4
265.5
265.0

84.9
270.9
268.9

Gross national product

Durable goods .
Nondurable goods
Services
- -

. . .. 73, 120 84,032 89, 938 88, 624
214, 968 230,812 247, 592 264, 678
203, 978 221,334 242, 065 262, 538

Gross private domestic investment
116,555 125,974 137,781 135,300
Fixed investment
Nonresidential
Structures
Producers' durable
equipment

108,362 118, 909 130,383 132, 490
.

83,299
28, 026

88, 835
30,321

98, 598 102, 128
34, 508 36, 776

114.0

110.7

118.6

123.0

120.0

127.0

126.2

130.7

134.3

137.0

141.8

138.0

131.2

134.1

138.6

137.3

104.4

106.2

109.9

113.0

117.1

117.4

118.5

122.6

127.6

130.2

131.4

132.3

130.8

132.1

133.5

133.6

82.9
29.0

82.9
27.3

83.3
27.9

84.1
28.0

88.3
30.5

87.0
29.6

88.8
30.0

91.2
31.2

95.0
33.1

96.6
33.0

100.7
36.0

102.2
36.0

100.8
36.1

102.1
36.6

104.8
37.3

100.8
37.1

55, 273

58, 514

64, 090

65, 352

53.9

55.6

55.4

56.2

57.9

57.3

58.8

60.1

61.8

63.6

64.7

66.2

64.7

65.6

67.5

63.7

Residential structures
Nonfarm
.
Farm

25, 063
24,494
569

30, 074
29, 525
549

31, 785
31,211
574

30, 362
29, 748
614

21.6
21.0
6

23.3
22.7
.6

26.6
26.0
6

28.8
28.3
6

28.8
28.2
6

30.5
29.9
.6

29.7
29.2
5

31.4
30.8
5

32.7
32.1
5

33.6
33.1
6

30.7
30.1
6

30.1
29.5
6

30.0
29.4
6

29.9
29.3
.6

28.7
28.1
.6

32.8
32.2
.6

Change in business inventories
Nonfarm. .
_
Farm

8,193
7,456
737

7,065
6,948
117

7,398
7,267
131

2,810
2,481
329

9.6
9.5
1

4.5
4.0
6

8.7
7.8
9

10.0
8.5
14

2.9
2.8
1

9.6
9.4
2

7.7
7.5
2

8.1
8.1

6.6
6.5
1

6.8
6.7
1

10.4
10.3
1

5.7
5.5
2

.4
.1
.3

2.1
1.8
.3

5.1
4.7
3

3.7
3.3
.4

Net exports of goods and services.

o

5,213

2,489

2,011

3,592

5.5

5.8

5.6

4.0

1.9

3.4

3.4

1.3

1.4

1.2

2.8

2.7

3.5

4.2

4.0

2.7

46, 203
. 40, 990

50, 623
48, 134

55,600
53, 589

62, 903
59, 311

45.8
40.4

46.0
40.1

46.3
40.7

46.8
42.8

47.8
45.9

50.7
47.3

53.1
49.7

50.8
49.5

48.0
46.6

56.9
55.7

58.3
55.5

59.2
56.6

61.5
58.0

63.2
59.0

63.7
59.7

63.2
60.5

Government purchases of goods
and services
. 180,093 199,561 209,708 219,394

Exports
Imports

... .

174.2

178.4

181.3

186.5

192.9

198.0

201.6

205.7

206.5

207.8

211.5

213.0

217.3

216.5

220.1

223.7

Federal
National defense
Other.

90, 706
72, 354
18, 352

97,226
75.350
21, 876

87.7
69.9
17.9

90.1
71.8
18.3

91.4
73.0
18.3

93.6
74.7
18.9

96.1
76.5
19.6

98.5
78.3
20.2

99.8
79.1
20.8

100.6
79.4
21.3

99.2
78.3
20.8

97.7
77.5
20.2

100.3
79.4
20.9

99.5
78.4
21.1

100.2
78.9
21.3

96.8
75.1
21.6

96.1
74.2
21.9

95.9
73.2
22.7

State and local

89,387 100, 793 110, 556 122, 168

86.5

88.2

89.9

92.9

96.8

99.5

101.8

105.1

107.3

110.1

111.2

113.5

117.1

119.7

124.0

127.9

98, 768
78, 295
20,473

99, 152
78, 406
20, 746

Table 1.2.—Gross National Product in Constant Dollars
[Billions of 1958 dollars]
1967
1967

1968

1969

1970

I

II

III

IV

I

III

II

1970

1969

1968
IV

I

II

III

IV

I

II

III

IV

Seasonally adjusted at annual rates
675.2

706.6

724.7

720.0

666.6

671.6

678.9

683.6

692.6

705.3

712.3

716.5

721.4

724.2

727.8

725.2

719.8

721.1

723.3

715.9

Personal consumption expenditures- 430.1

452.7

469.3

475.9

424.2

430.3

431.6

434.3

444.6

448.4 •457. 7

460.2

465.7

469.0

469.9

472.6

474.4

477.1

477. 9

474.2

72.9
190.2
167.0

81.3
197.1
174.4

84.8
202.7
181.8

81.4
207.3
187.2

70.1
190.2
163.8

74.0
190.4
165.9

73.3
190.0
168.3

74.0
190.3
169.9

78.6
194.9
171.1

80.0
195.3
173.1

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

Gross private domestic investment. . 101.2

105.2

109.6

102.^2

100.7

96.7

102.4

105.1

101.6

106.8

104.9

107.7

108.4

109.4

112.4

108.2

101.1

102.7

104.0

101.2

100.7

100.7

100.1

98.1

80.1
24.2

75.5
23.5

Gross national product
Durable goods
Nondurable goods
Services

. ..

Fixed investment

93.5

_

..

Change in business inventories
Nonfarm
Farm.
Net exports of goods and services
Exports
Imports

.

Government purchases of goods and
services
Federal- .
State and local .




103.2

99.9

91.6

92.5

94.2

95.9

99.0

98.0

97.9

100.3

102.8

103.5

103.2

103.3

73.2
22.6

75.6
23.4

80.1
24.5

78.6
24.2

73.6
23.8

73.3
22.2

72.9
22.3

72.9
22.1

76.2
24.0

74.4
23.0

75.3
22.9

76.6
23.5

78.6
24.3

79.1
23.6

81.1
25.1

81.7
24.8

79.3
24.6

79.4
24.4

50.6

Nonresidential
_
Structures
Producers' durable
equipment... _
Residential structures
Nonfarm
Farm

98.8

52.2

55.7

54.4

49.8

51.1

50.6

50.8

52.1

51.3

52.4

53.1

54.4

55.5

56.0

56.8

54.7

55.0

55.9

52.0

20.4
19.9
.5

23.2
22.8
.4

23.1
22.6
.4

21.3
20.9
.4

18.0
17.5
.5

19.2
18.7
.5

21.3
20.8
.5

23.0
22.5
.5

22.8
22.3
.5

23.7
23.2
.4

22.6
22.2
.4

23.7
23.3
.4

24.1
23.7
.4

24.4
24.0
.4

22.1
21.6
.4

21.6
21.2
.4

21.4
21.0
.4

21.3
20.8
.4

20.0
19.5
.4

22.6
22.2
.4

7.7
7.0
.7

6.4
6.3
.1

6.4
6.3
.1

2.3
2.0
.3

9.1
9.0
.1

4.3
3.7
.6

8.3
7.4
.9

9.2
7.8
1.4

2.6
2.5
.1

8.8
8.6
.2

7.0
6.8
.2

7.4
7.4
.1

5.7
5.6
.1

5.8
5.8
.0

9.2
9.2
.0

4.9
4.8
2

.3
.0
.2

2.0
1.7
.3

3.9
3.6
.3

3.1
2.8
.4

4.0

4.3

4.2

2.1

.9

1.8

1.6

-.3

-.5

-.3

.6

.6

1.7

2.6

3.2

2.1

42.6
40.4

43.9
43.1

45.5
43.8

47.7
46.1

45.4
45.8

42.4
42.9

50.7
51.0

50.7
50.1

50.1
49.5

51.6
49.9

52.8
50.1

52.4
49.2

51.9
49.8

142.2

145. 5

148.2

148.0

149.0

147.8

146.1

144.8

143.8

142.6

138.7

138.2

138.3

76.3
71.4

73.9
72.1

73.2
71.6

71.6
72.2

69.4
73.2

65.3
73.4

63.8
74.3

63.2
75.2

3.6

1.0

.1

2.4

42.1
38.5

45.7
44.7

48.5
48.3

52.2
49.8

41.7
37.8

42.0
37.7

42.2
38.0

140.2

147.7

145.6

139.4

137.7

140.2

140.7

74.7
65.5

78.1
69.6

73.8
71.9

65.4
74.0

72.8
64.9

74.9
65.3

75.4
65.3

75.5
66.7

77.0
68.5

78.8
69.4

78.4
69.7

78.1
70.9

CURRENT BUSINESS STATISTICS

JLHE 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
II

III

1969
IV

I

II

1970
III

Annual total

| IV

I

|

II

1971
III

|

IV

I

HP

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
bil.$__ ' 864. 2 ' 929. 1 ' 974. 1 ' 857. 4 ' 875. 2 ' 890. 2 ' 906. 4 ' 921. 8 ' 940. 2 ' 948. 0 ' 956. 0 ' 968. 5 ' 983. 5 ' 988. 4 '1,020.8 1, 040. 5

Gross national product, total f

do__.

536.2

579.6

615.8

529.0

544.0

552.5

564.3

575.8

584.1

594.2

604.0

613.8

620.9

624.7

644.6

660.1

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

82.4
36.2
33.8

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

84.9
32.7
37.6

97.6
44. 1
39.5

100.0
45.4
40.1

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

227.8
45.3
114.6
18.6

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

265.5
52.4
132.4
22.9

270.9
54.2
134.3
23.5

272.0
54.9
135.1
23.8

279.4
56.9
137. 9
24.3

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

218.8
30.8
76.6
15.4

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

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

280.7
38.6
98.5
18.9

Personal consumption expenditures, total

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

.

.

Services total 9
Household operation ^
Housing
_ _
Transportation

do

Fixed investment
-. _
Nonresident ial
Structures
.__ _
Producers' durable equipment
Residential structures
_ _
N on farm
Change in business inventories
Nonfarm
_

126.0

137.8

135.3

127.0

126.2

130.7

134.3

137.0

141.8

138.0

131.2

134.1

138.6

137.3

143.8

150.1

do
do
do_ _
do
do
do
_do
do

Gross private domestic investment, total

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

117.4
87.0
29.6
57.3
30.5
29.9
9.6
9.4

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
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

140.6
104.3
37.9
66.3
36.4
35.7
3.2
3.0

145.4
106.1
37.8
68.3
39.3
38.7
4.7
4.2

2.5
50.6
48.1

2.0
55.6
53.6

3.6
62.9
59.3

3.4
50.7
47.3

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

.1
65.8
65.7

199.6
98.8
78.3
100.8

209.7
99.2
78.4
110.6

219.4
97.2
75.4
122.2

198.0
98.5
78.3
99.5

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
96.0
72.0
134. 2

' 966 5
466.6
183.7
282 9
406 2
93.7

' 978 4
469.8
184. 9
284 9
413 7
94.9

'2.1
—2.0
4 0

'5.1
4.7
4

Net exports of goods and services ... .__ . do
Exports
do
Imports
.
. do
Govt. purchases of goods and services, total, .do
Federal
do
National defense
.
do
State and local.
_.do_ __
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

' 857. 1 ' 921. 7 ' 971. 3 ' 847. 8 ' 867. 5 ' 882. 1 ' 899. 8 ' 915 0
422.4
449.9
465.5
428.*?
433. 1
417.5
441.3
447.7
180.9
169.6
172.4
180.8
167.4
174.0
179. 1
179.6
252.9
269.0
284.7
259 1
250 1
256 5
262 2
268 0
377.4
346.6
410.3
351.4
357. 6
364.0
343.0
371 9
94.4
88.1
95.5
87.2
87.4
91.4
94.5
95.3

'7.1
4.9
2.1

'7.4
4.5
2.9

'2.8
-.6
3.4

'9.6
6.7
2.9

'7.7
4.5
3. 1

'8.1
6.0
2.1

'6.6
3.8
2.8

'6.8
4.7
2. 1

' 929 8
452.3
181.3
271 0
383 0
94.5
' 10.4
6.5
4 0

' 942 3 ' 955 6
461.5
458.3
183.4
181.5
274 9
279 9
390 6
400 8
93.4
93.4

'5.7
3 0
2 8

'.4
—1 8
2 2

' 984 7 1,017.6 1, 035. 8
480.0
464.0
488.3
188.0
190.5
173. 1
297 8
292 0
290 9
432.3
439.9
420 6
105.2
107.7
100. 1

'3.7
-3.4
7 1

'3.2
3.8
—.6

4.7
3.3
1. 4

GNP in constant (1958) dollars
r

' 706. 6

724.7

do

452.7

469.3

475.9

448.4

457.7

460.2

465.7

469.0

469.9

472.6

474.4

477. 1

477.9

474.2

484.8

491.5

_ __do_
do
do

81.3
197. 1
174.4

84.8
202.7
181.8

81.4
207.3
187.2

80.0
195.3
173. 1

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

88.5
212.7
190.2

105.2

109.6

102.2

106.8

104.9

107.7

108.4

109.4

112.4

108.2

101.0

102.7

104.0

101.2

104.7

108.3

98.8
75.6
23.2
6.4

103. 2
80.1
23 1
6.4

99.9
78.6
21 3
2.3

98.0
74.4
23 7
8.8

97 9
75.3
22 6
7.0

100 3
76.6
23 7
7.4

102
78
24
5

103
79
24
5

103
81
22
9

103
81
21
4

100 7
79 3
21 4
3

100
79
21
2

100
80
20
3

102
77
24
2

104 3
78.2
26 1
4.0

1.0

.1

2 4

18

1 6

— 3

— 5

— 3

6

6

17

2 6

3 2

2 1

2 6

Govt. purchases of goods and services, total__do
147.7
145.6
139.4
148.2
148.0
Federal
do
65 4
78 1
73 8
78 8
78 4
State and local
do
69.6
71.9
740
69.' 4
69.7
'Revised.
*> Preliminary.
f Re vised series. Estimates of national income and product
and personal income have been revised back to 1967 (see p.
of this issue of the SURVEY) ;

149.0
78 1
70.' 9

147.8
76 3
71.' 4

146.1
73 9
72^1

144.8
73 2
7L6

143.8
71 6

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

Gross national product, totalf

--

Personal consumption expenditures, total
Durable goods
Nondurable goods
Services...

_

_ _

_ _

Gross private domestic investment, total

bil. $

do

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




do

' 720. 0 ' 705. 3 ' 712. 3 ' 716. 5 ' 721. 4 ' 724. 2 ' 727. 8 ' 725 2 ' 719 8 ' 721. 1

8
6
1
7

5
1
4
8

2
1
1
2

3
7
6
9

72.' 2

73.2

7
4
3
0

73.4

723. 3

1
1
0
9

' 715. 9 ' 729. 7

98
75
22
3

1
5
6
1

1
5
6
6

736.3

137. 2
60 6
76.6

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

s-1

SURVEY OF CURRENT BUSINESS

S-2
1968

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

III

Annual total

July 1971

1969

IV

I

II

1970

III

IV

I

II

1971

IV

III

I

HP

III

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income, total f
- bil. $ - ' 711. 1 ' 763. 7 ' 795. 9 ' 720. 3 r 732. 7 •• 745. 9 r 758. 9 ' 771. 7 ' 778. 2 ' 785. 8 ' 793. 4 ' 802. 2 f 802. 1

r

832. 2

Compensation of employees, total

do

514.6

565.5

601.9

521.6

533.6

545.9

559.1

573.6

583.6

593.2

598.5

606.5

609.3

627.9

639.6

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

471.1
373.5
18.6
79.0
50.5
64.6
49.9
14.7
21.1

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
66.4
51.6
14.8
23.8

572.6
450.0
18.6
104.0
67.0
67.1
51.9
15.2
24.2

84.3

78.6

70.8

85.9

84.7

82.7

80.7

78.0

73.3

69.8

71.5

73.0

69.0

79.0

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

11.8
74.2
42.0
19.7
22.3

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

14.2
64.8
33.9
17.1
16.9

10.6
20.7

10.0
20.6

8.0

10.3
21.0

10.6
20.8

10.4
21.0

9.8

8.2

21.2

9.1
19.2

19.2

7.8

7.9

8.1

20.5

10.6
21.5

20.1

20.9

21.9

% 5
22.4

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

86.9
39.5
47.4
24.1
23.3

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

82.6
37.9
44.7
25.6
19.1
—3.5
35.0

-5.2
35.8

688. 9
97.9
591.0
551.2
39.8

«• 750. 3
116.2
634.2
596.3
37.9

834 7
112.7
722.0
663 2
58 8

855 0
113.9
741.1
679 0
62.1

67.76
28.37
14.12
14.25

75.56
31.68
15.96
15.72

79.71
31.95
15.80
16.15

16.79
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

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

9.66

10.93

9.45

.39
.31
.64
.41

.40
.38
.66
.47

.42
.38
.68
.38

2.61
1.87

2.90
2.16

2.36
1.88

Corporate profits and inventory valuation adjustment, total
bil. $
By broad industry groups:
Financial institutions
do
Nonfinancial corporations total
do
Manufacturing, total
do
Nondurable goods industries
do
Durable goods industries _._
do
Transportation, communication, and public
utilities
bil $
All other industries
do
Corporate profits before tax, total
do
Corporate profits tax liability
do
Corporate profits after tax . _ _
_ do
Dividends
do
Undistributed profits,.
_ do
Inventory valuation adjustment
do
Net interest
_ do
DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
bil $
Less: Personal tax and nontax payments
do. __
Equals: Disposable personal income
__do_ _
Less: Personal outlays©
do
Equals: Personal saving §.
do .
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals :t
All industries
bil. $
Manufacturing
do
Durable goods industries H
do
Nondurable goods industries V - ...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 f
Nondurable goods industries f
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

T

r

803. 6
115.9
687.8
633.7
54.1

-.9

27.1

' 697. 8 ' 712. 6
107.1
102.7
605.5
595.2
568.1
559.3
37.3
35.9

.74

.74

r

726. 8
113.6
613.2
580.4
32.8

.48

r

743. 1
117.2
625.9
592.4
33.4

r

759. 3
116.1
643.2
600.9
42.3

r

772. 2 ' 784. 3 r 803. 8

r

8.8

r

r

117.8
654.5
611.4
43.1

116.7
667.6
621.5
46.2

118.0
685.7
631.5
54.2

809. 8
113.5
696.2
638.9
57.4

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.o7
4.12

21.66
8.66
4.26
4.40

17 68
6.69
3.11
3.58

i 20 80
7.66
3.68
3.98

i 20 68
7.69
3.68
4.01

10.99

11.10

12.34

10.32

12. 18

12.27

12.99

10 99

13.15

12 99

.48
.44
.66
.46

.47
.49
.53
.40

.49
.55
.64
.44

.45
.42
.73
.28

.47
.47
.80
.31

.46
.46
.74
.30

.50
.43
.76
.33

.49
.34
.34
.28

.52
.50
.61
.41

.49
.45
.36
.40

2.99
2.22

3.03
2.23

3.23
2.61

2.54
2.15

3.28
2.59

3.58
2.79

3.74
3.12

3.11
2.70

3.90
3.30

.60

4.02
3.25

.41

.77

.80

.62

.39

.69

816. 7
115.2
701.5
643.0
58.5

25.4

.78

.63

.77

1.61
3.69

2.00
4.13

1.81
3.41

2.00
3.97

2.11
4.07

2.39
4.60

2.14
3.76

2.59
4.26

2.56
4.16

2.81
4.42

2.50
3.94

27.21

27.26

do
do
do
do

67.77
28.86
14.47
14.40

69.05
28.70
14.39
14.31

72.52
29.99
15.47
14.52

73.94
31.16
15.98
15.18

77.84
33.05
16.53
16.52

77.84
32.39
15,88
16.50

78.22
32.44
16.40
16.05

80.22
32.43
16.32
16.11

81.88
32.15
15.74
16.40

78.63
30.98
14.92
16.05

79.32
30.46
14.21
16.25

182. 38
30.54
14.66
15.88

i 82. 83
30.68
14.89
15.79

do
do
do
do
do
do
do
do
do
do

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

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 2

51.84

2.01
2.00
2.30
1.59
15.18
12.98
2.20

52.15
2.00
1.87
1.56
1.56
15.64
13.15
2.49

28. 75

2 29. 51

13 284
8 878

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

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
Imports of goods and services
do
Merchandise, adjusted, excl. military
do
Direct defense expenditures.
do
Payments of income on foreign investments in the
U.S
mil. $..
Other services
do

50 623
33 588

55 600
36, 490

62, 903
41, 980

1 395

1 515

1,480

393

357

407

329

442

336

274

447

327

433

P507

9 233
6 407

10, 539
7 056

11, 409
8,034

2,398
1 615

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

p 2, 845
p 2,131

-48,134 -53, 589 -59,311 -12, 436 -12, 384 -11, 657 -13, 926 -13, 866 -14, 142 -14, 493 -14, 761 -14, 935 -15, 125 p- 15,464
-32,964 -35, 830 -39,870 -8,568 -8,441 -7,589 -9,566 -9,278 —9, 397 -9,728 -9,831 -9,992 -10,319 p- 10,760
-4,535 -4,856 -4,851 -1,147 -1,173 -1,198 -1,187 -1,221 —1,251 -1,182 -1,255 — 1,211 -1,203 p-1,184
-3,013 -4,564
-7,621 -8,339

-929 -1,078 -1,242 —1,315 -1,348 -1,322 -1,284 -1,213
-5,167
-800
-775
-9,425 -1,946 -1,970 -1,941 -2,095 -2,125 —2, 179 -2,235 -2,353 -2,448 -2,390

T
Revised.
p Preliminary.
i Estimates (corrected for systematic biases) for Apr.June and July-Sept. 1971 based on expected capital expenditures of business. Expected expenditures for the year 1971 appear on p. 16 of the June 1971 SURVEY.
2 Includes communication.
fSee corresponding note on p. S-l.
9 Includes inventory valuation adjustment.
J Revised 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 ff. of the Feb. 1970




15, 795 p 16,515
10, 461 p 11, 032

p-1,118
p-2,402

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.
IJData for individual durable and nondurable goods industries components appear in the
Mar., June, Sept., and Dec. issues of the SURVEY.
cfRevised; more complete details,
as well as revised quarterly data back to 1966, appear on p. 24 ff. of this issue of the SURVEY.

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