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SURVEY OF CURRENT BUSINESS

January 19T3

NATIONAL INCOME AND PRODUCT TABLES
1972

1971
1971

1972 P

III

IV

I

II

1972

1971

III

IV P

1971

1972 P

III

IV

I

II

III

IV*

Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

Billions of 1958 dollars

Billions of current dollars

Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
741.7

789.7

742.5

754.5

766.5

783.9

796.1

812.4

664.9

721.1

670.7

680.5

696.1

713.4

728.6

746.2

495.4

524.8

497.4

503.2

511.0

520.9

528.7

538.6

103.5
278.1
283.3

116.3
299.5
305.4

106.1
278.5
286.1

106.1
283.4
290.9

111.0
288.3
296.7

113.9
297.2
302.4

118.6
302.0
308.0

121.5
310.4
314.3

92.1
211.1
192.2

103.1
220.5
201.2

94.2
210.5
192.8

95.4
212.8
195.0

98.6
214.7
197.7

100.7
220 1
200.0

104.5
221.9
202.3

108.4
225.3
204.9

152.0
148.3
105.8
38.4
67.4

180.2
174.3

158.8
157.2

177.0
172.0
119.2
42.0
77.2

183.2
175.2
120.7
41.8
79.0

108.6
105.9

123.8
119.3

125.6
43.8
81.8

76.8
22.8
54.0

84.3
22.9
61.3

107.3
106.6
76.4
22.5
53.9

112.0
111.3

109.8
38.8
71.0

168.1
167.7
116.1
41.3
74.8

192.4
182.4

120.4
42.2
78.2

152.2
150.9
106.3
38.7
67.6

79.2
22.2
57.0

116.6
116.3
82.2
23.0
59.2

122.0
118.0
83.6
23.0
60.6

125.5
119.3
84.2
22.6
61.6

131.1
123.4
87.2
23.1
64.0

42.6
42.0
.6

53.9
53.2
.7

44.5
43.9
.7

47.3
46.7
.6

51.6
51.0
.6

52.8
52.1
.6

54.4
53.7
.8

56.8
55.9
.9

29.1
28.7
.4

35.0
34.5
.5

30.1
29.7
.5

32.1
31.7
.4

34.2
33.8
.4

34.4
34.0
.4

35.1
34.6
.5

36.3
35.7

3.6
2.4
1.2

5.8
5.5
.3

1.3
-.2
1.6

1.7
.8
.9

.4
.1
.3

5.0
4.3
.7

8.0
7.9
.1

10.0
9.7
.2

2.6
1.6
1.1

4.5
4.2
.3

.7
-.6
1.3

.7
-.1
.8

.3
—.1
.3

3.9
3.4
.5

6.2
6.2
.1

7.7
7.5
.2

.7

-4.1

.4

-2.1

-4.6

-5.2

-3.4

-3.0

.1

-1.8

.1

-1.8

-3.3

-2.8

-.7

-.3

66.1
65.4

68.5
68.2

63.0
65.1

70.7
75.3

70.0
75.2

52.6
52.5

49.9
51.7

55.5
58.9

54.2
57.0

57.2
57.9

60.5

240.9

249.4

254.1

260.3

137.6

56.9
58.7
142.9

54.4
54.3

233.6

74.4
77.8
255.6

79.7
82.7

232.8

73.7
77.8
254.9

137.6

141.1

142.2

143.9

142.6

143.0

97.8
71.4
26.3

105.9
76.2
29.7

97.9
70.1
27.8

100.7
71.9
28.7

105.7
76 7
28.9

108.1
78.6
29.6

105.4
75.1
3a2

104.5
74.4
30.1

60.8

61.6

61.0

62.3

62.8

63.7

60.8

59.2

135.0

148.9

135.7

140.2

143.7

146.0

150.2

155.8

76.8

81.3

76.7

78.8

79.4

80.3

81.8

1,050.4 1,152.1 1,056.9 1,078.1 1,109.1 1,139.4 1,164.0 1,195.8

Gross national product
Personal consumption expendituresDurable goods
Nondurable goods.
Services
Gross private domestic investment..
Fixed investment
Nonresidential
Structures
Producers' durable equipment..
Eesidential structures.
Nonfarm
Farm
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)
Gross national product..

1,050.4 1,152.1 1,056.9 1,078.1 1,109.1 1,139.4 1,164.0 1,195.8

Final sales
Change in business inventoriesGoods output-

741.7

789.7

742.5

754.5

766.5

783.9

796.1

812.4

1,046. 7 1,146.2 1, 055. 6 1, 076. 4 1,108. 6 1,134.4 1,156.0 1,185.9
3.6
5.8
1.3
1.7
.4
5.0
8.0
10.0

739.1
2.6

785.2
4.5

741.7

753.8
.7

766.3
.3

780.0
3.9

789.8
6.2

804.7

400.4

407.0

420.7

428.7

399.7
.7

406.8
.3

416.7
3.9

422.5
6.2

167.4
169.5
-2.1

175.0
174.8

181.4
179.1
2.3

187.9
183.8
4.1

233.0
230.2

232.0
232.0

239.2
237.6

240.9
238.7

495.5

542.8

497.5

504.8

517.6

537.1

550.4

566.0

393.8

423.9

Final sales
Change in business inventoriesDurable goods
Final sales
Change in business inventories-

491.8
3.6

536.9
5.8

496.2
1.3

503.1
1.7

517.2
.4

532.1
5.0

542.4
8.0

556.0
10.0

391.2
2.6

419.4
4.5

195.7
194.6
1.1

222.7
217.6
5.2

196.7
197.7
-1.0

198.2
200.1
-1.9

209.2
208.8
.4

217.6
214.6
3.0

Nondurable goods
Final sales
Change in business inventories.

299.8
297.3

320.1
319.4

300.8
298.5

303.0
3.5

308.4
308.4
.0

317.5
2.1

456.3

467.3

477.3

117.0

124.2

125.0

Structures.

2.5

.7

2.3

443.9

482.2

446.7

111.0

Services.-.

127.1

112.7

.7
394.5

226.1
220.7
5.4

238.0
226.2
11.9

164.5
163.8

185.9
181.9
4.0

393.7
.7
164.9
166.0
-1.1

324.3
321.7

327.9
329.9
-1.9

229.4
227.3

238.1
237.5

229.5
227.7

2.6
487.3

496.8
133.1

2.0
278.4

74.8

69.5

126.3

1.9

2.8

.0

1.6

2.2

278.4

282.3

285.2

289.3

293.2

69.6

291.1

71.8

74.3

74.0

7.7
439.2

431.5
7.7
199.1
189.9
9.2
240.1
241.6
-1.5

74.1

296.6
76.6

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national productPrivate
Business
Nonfarm.
Farm
Households and institutionsRest of the world
General government

1,050.4 1,152.1 1,056.9 1,078.1 1,109.1 1,139.4 1,164.0 1,195.8

741.7

789.7

742.5

754.5

766.5

783.9

796.1

681.0

728.4

681.7

693.7

705.6

723.0

734.5

812.4
750.3

658.5
633.0
25.5

705.0
681.7
23.3

659.8
633.9
25.9

669.8
644.8
25.0

682.9
659.2
23.8

700.1
676.4
23.8

710.8
688.4
22.4

726.3
703.0
23.4

39.4

16.9

17.9

16.9

17.1

17.4

17.7

18.2

18.2

7.8

5.6

5.4

5.0

6.8

5.4

5.2

5.6

5.7

140.1

60.7

61.4

60.8

60.8

60.9

60.9

61.6

62.1

925.6 1,016.0

931.4

950.2

976.6 1,005.0 1,026.6 1,055.7

884.7
853.9
30.9

970.8
937.4
33.4

890.9
859.6
31.2

906.6
874.5
32.1

933.7
901.8
31.9

960.8
928.2
32.6

33.9

37.8

34.3

35.1

36.0

37.3

38.6

6.9

7.3

6.2

8.5

6.8

6.9

7.6

124.8

136.1

125.5

127.9

132.5

134.4

137.4

980.4 1,008.5
947.4
972.2
33.0
36.3

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 1972 issue has
data for 1968-71. BE A will provide on request a reprint of final data for the years 1964-67. Prior July issues have final data as follows:
1964-65, July 1968; 1965-66, July 1969; 1966-67, July 1970; 1967-68, July 1971.
p Preliminary.




CURRENT BUSINESS STATISTICS

A HE STATISTICS here update series published in the 1971 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (available from the Superintendent of Documents for $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, 1967 through 1970 (1960-70 for major quarterly
series), annually, 1947-70; for selected series, monthly or quarterly, 1947-70 (where available). Series added or significantly revised after the 1971
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 1970 issued too late for
inclusion in the 1971 volume appear in the monthly SURVEY beginning with the September 1971 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 1971 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.
1969
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of BUSINESS STATISTICS

1970

1971

1969
IV

Annual total

1970
I

II

1971
III

IV

i | „

1972

in

IV

II

I

III

IV pi

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT!
] ,164.0 1,195. 8

976.4

1,050.4

948.9

958.0

971.7

986.3

989.7

1,023.4

1,043.0

1,056.9

Personal consumption expenditures, total

do

579.5

616.8

664.9

594.4

604.1

613.4

623.0

626.5

648.0

660.4

670.7

680.5

696.1

713.4

728.6

746.2

Durable goods, total?
Automobiles and parts
Furniture and household equipment

do
do
do

90.8
40.2
37.1

90.5
37.3
39.0

103.5
46.7
42.0

91.4
40.6
37.5

90.2
37.8
38.7

91.6
39.2
38.8

92.6
39.4
38.8

87.5
33.0
39.6

99.8
44.9
41.0

101.9
45.4
41.4

106.1
48.8
41.9

106.1
47.9
43.5

111.0
49.9
46.5

113.9
51.3
46.8

118.6
54.8
47.9

121.5
55.5
49.4

do
do
-.do
do

I 245.9
50.2
120.6
20.9

264.4
52.0
132.1
22.2

278.1
56.9
136.4
23.5

251.1
51.1
122.6
21.5

257.8
51.1
128.0
21.8

262.4
51.8
131.2
22.0

266.3
51.7
133.9
22.3

271.3
53.6
135.2
22.8

273 A
55.1
135.1
23.0

277.2
56.7
135.9
23.0

278.5
57.4
136.6
23.5

283.4
58.5
137.9
24.3

288.3
59.4
140.3
24.6

297.2
61.5
144.1
24.5

302.0
62.6
145.8
25.4

310.4
64.2
149.1
26.1

do..
do_.
do_.
do..

242.7
33.8
84.1
16.6

261.8
36.3
90.9

283.3
39.5
99.2
19.9

251.9
35.1
87.2
17.1

256.1
35.3
88.7
17.7

259.4
35.9
90.1
18.0

264.1
36.9
91.4
18.5

267.7
37.2
93.4
18.8

274.8
38.0
95.8
19.3

281.3
39.1
98.1
19.8

286.1
40.0
100.3
20.2

290.9
40.7
102.5
20.4

296.7
41.2
104.2
21.0

302.4
42.7
106.1
21.5

308.0
44.0
108.1
21.9

314.3
45.2
110.2
22.4

do..

139.0

Gross national product, totalf

bil.$__

Nondurable goods, total 9
Clothing and shoes
Food and beverages
Gasoline and oil
_
Services, total9
Household operation
Housing
Transportation
Gross private domestic investment, total

...do
do
do
do
do
do
do
do

131.1
98.5
34.2
64.3
32.6
32.0
7.8
7.7

do
do
do

1.9
55.5
53.6

Govt. purchases of goods and services, total, .do
Federal
do
National defense
do
State and local
do
By major type of product:!
Final sales, total
Goods, total
Durable goods
Nondurable goods
Services
Structures

Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential structures
Nonfarm
Change in business inventories
Nonfarm.._
.._

132.2
100.9
36.0
64.9

152.0

137.9

132.9

137.7

139.9

137.8

143.9

153.0

152.2

158.8

168.1

177.0

183.2

192.4

148.3
105.8
38.4
67.4
42.6
42.0
3.6
2.4

132.3
101. 4
35.8
65.7
30.9
30.5
5.5
5.4

131.4
100.2
35.5
64.8
31.2
30.6
1.5
1.4

131.4
101.7
36.1
65.6
29.7
29.4
6.3
6.2

133.7
103.4
36.2
67.2
30.3
29.9
6.2
6.1

132.1
98.5
36.3
62.1
33.6
33.0
5.7
5.6

139.0
101.9
37.6
64.3
37.0
36.6
4.9
3.9

146.4
105.0
38.3
66.7
41.4
40.9
6.6
5.1

150.9
106.3
38.7
67.6
44.5
43.9
1.3
-.2

157.2
109.8
38.8
71.0
47.3
46.7
1.7
.8

167.7
116.1
41.3
74.8
51.6
51.0
.4
.1

172.0
119.2
42.0
77.2
52.8
52.1
5.0
4.3

175.2
120.7
41.8
79.0
54.4
53.7
8.0
7.9

182.4
125.6
43.8
81.8
56.8
55.9
10.0
9.7

.7
66.1
65.4

2.7
59.2
56.5

3. 6
61.5
57.9

3.9
63.0
59.2

4.0
63.7
59.8

2.8
63.2
60.4

4.5
66.3
61.8

66] 7
66.6

.4
68.5
68.2

-2.1
63.0
65.1

-4.6
70.7
75.3

—5.2
70.0
75.2

-3.4
74.4
77.8

-3.0
79.7
82.7

210.0
98.8
78.4
111.2

31.2
30.7
4.9
4.8
3.6
62.9
59.3
219.0
96.5
75.1
122.5

232.8
97.8
71.4
135.0

214.0
99.4
78.9
114.6

217.3
99.7
78.9
117.6

216.7
96.2
74.7
120.5

219.5
95.2
73.8
124.3

222.6
95.0
72.9
127.6

227.0
96.2
72.5
130.8

229.5
96.3
71.2
133.3

233.6
97.9
70.1
135.7

240.9
100.7
71.9
140.2

249.4
105.7
76.7
143.7

254.1
108.1
78.6
146.0

255.6
105.4
75.1
150.2

260.3
104.5
74.4
155.8

do..
do_.
do..
do..
do..
do..

922.5
449. 7
182.3
267.4
377. 9
94.9

971.5
467.0
183.0
284.0
409.2
95.4

1,046.7
491.8
194.6
297.3
443.9
111.0

943. 4
458.0
184. 7
273.3
391.9
93.4

956.4
462.3
184.4
277.8
400.6
93.5

965.5
467.3
185.2
282.1
405.1
93.1

980.2
472.7
187.4
285.2
412.2
95.3

984.1
465.6
174.8
290.7
418.7
99.8

1,018.5
482.2
189. 6
292.6
431.3
105.0

do_
.do..
_._do_.

7.8
5.0
2.8

4.9
1.9
3.0

3.6
1.1
2.5

5.5
3.7
1.9

1.5
1.0
.5

6.3
1.6
4.7

6.2
6.0
.2

5.7
-.9
6.6

4.9
3.7
1.2

Net exports of goods and services
Exports
Imports
._

Change in business inventories
Durable goods
Nondurable goods

18.2
137.1

1,078.1 1,109.1 1,139.4

1,036.4 1,055.6 1,076.4 1,108.6 1,134.4 1,156.0 1,185. 9
485.8
496.2
503.1 517.2
532.1
556.0
542.4
200.1 208.8
214.6
191.0
197.7
226.2
220.7
317.5
329. 9
294.8
298.5 303.0 308.4
321.7
467.3
456.3
477.3
496.8
487.3
441.1
446.7
124.2
117.0
125.0
133.1
126.3
109.5
112.7
6.6
3.6
3.1

1.3
-1.0
2.3

1.7
-1.9
3.5

.4
.4
.0

5.0
3.0
2.1

8.0
5.4
2.6

10.0
11.9
-1.9

GNP in constant (1958) dollars!
Gross national product, totalf
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

bil. $-_

725.6

722.1

741.7

725.1

720.4

723.2

726.8

718.0

731.9

737.9

742.5

754.5

766.5

783.9

796.1

812.4

do

469.1

477.0

495.4

472.2

474.1

476.9

480.2

476.5

488.2

493.0

497.4

503.2

511.0

520.9

528.7

538.6

do..
do_.
..do..

85.6
201.3
182.2

92.1
211.1
192.2

85.4
201.5
185.2

83.8
204. 4
185.9

84.7
206.0
186.2

84.9
207.7
187.6

78.9
209.9
187.8

88.8
210.0
189.3

90.0
211.2
191.8

94.2
210.5
192.8

95.4
212.8
195.0

98.6
211.7
197.7

100.7
220.1
200.0

104.5
221.9
202.3

108.4
225.3
204. 9

do.

110.5

83.1
207.0
186.8
104.0

108.6

107.4

102.0

105.6

106.2

102.2

105.0

110.0

107.3

112.0

116.6

122.0

125.5

131.1

do
do
do
do

103.8
80.1
23.7
6.7

99.9
77.6
22.3
4.1

105.9
76.8
29.1
2.6

102.8
80.9
21.9
4.6

101.0
78.8
22.2
.9

100.0
78.9
21.1
5.6

101.3
79.3
22.0
4.9

97.4
73.6
23.9
4.8

101.2
75.3
25.9
3.8

104.7
76.4
28.3
5.3

106.6
76.4
30.1
.7

111.3
79.2
32.1
.7

116.3
82.2
34.2
.3

118.0
83.6
34.4
3.9

119.3
84.2
35.1
6.2

123.4
87.2
36.3
7.7

.2

2.2

.1

.8

.1

-1.8

-3.3

-2.8

-.7

-.3

do..

1.9

145.9
Govt. purchases of goods and services, total, .do
139.0
144.6
142.4
137.6
73.5
Federal
do
64.7
71.5
69.0
60.8
72.4
State and local
do
74.3
73.1
73.5
76.8
r
Revised.
v Preliminary.
i Preliminary annual totals for 1972 for components
shown in this column appear on pp. 7-10 of this issue of the SURVEY.
\ Revised series.
Estimates of national income and product and personal income have been revised back to




2.0

2.9

1.9

2.7

-.7

138.6
137.5
137.3
136.1
137.6
141.1
142.2
135.7
143.9
142.6
143.0
64.8
62.9
62.1
60.2
61.0
62.3
62.8
59.7
63.7
60.8
59.2
73.8
74.6
75.1
75.9
79.4
76.0
76.7
78.8
80.3
81.8
83.8
1969 (see p. 16 ft. of the July 1972 SURVEY); revisions prior to May 1971 for personal income
appear on pp. 25-26 of the July 1972 SURVEY.
9 Includes data not shown separately.

S-l

CVJiil Ut 1

S-2
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of BUSINESS STATISTICS

1969 | 1970

UUKJ

^^

i5u;

January 1973

1970

1971

I

Annual total

.

II

1971

III

IV

I

II

1973

1972

III

IV

I

II

III

I V *>3

I

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

766.0

798.6

855.7

787.5

796.7

806.3

804.1

Compensation of employees, totalf

do..

566.0

603.8

644.1

594.3

600.7

609.0

611.2

Wages and salaries, total
Private
Military
Government civilian
Supplements to wages and salaries
Proprietors' income, total 9
Business and professional 9
Farm
Rental income of persons

do
do
do__..
do
do
do
do
do
do

509.7
405.6
19.0
85.1
56.3
67.2
50.5
16.7
22.6

541.9
426.8
19.6
95.5
61.9
66.8
49.9
16.9
23.3

573.5
449.7
19.4
104.4
70.7
70.0
52.6
17.3
24.5

534.9
422.5
20.2
92.2
59.5
67.7
49.7
18.0
23.0

539.5
425.1
19.6
94.7
61.2
67.1
50.0
17.1
23.2

546.1
430.0
19.4
96.7
62.8
66.6
50.1
16.5
23.4

547.2
429.7
19.0
98.5
63.9
65.8
49.9
15.9
23.8

79.8

69.9

78.6

69.3

71.5

72.0

12.4
67.4
36.6
17.7
18.8

14.5
55.4
27.7
16.7
11.0

16.7
61.9
30.9
16.8
14.1

12.8
56.5
29.4
16.4
13.1

14.0
57.5
29.9
17.0
13.0

15.0
57.0
28.9
17.2
11.7

10.1
20.7

7.6
20.1

8.2
22.9

8.0
19.1

7.4
20.1

84.9
40.1
44.8
24.3
20.5
-5.1
30.5

74.3
34.1
40.2
24.8
15.4
-4.4
34.8

83.3
37.3
45.9
25.4
20.5
-4.7
38.5

75.8
34.3
41.4
24.8
16.6
-6.4
33.2

750.9
116.5
634.4
596.2
38.2

116.7
689.5
634.7
54.9

861.4
117.0
744.4
683.4
60.9

75.56
31.68
15.96
15.72

79.71
31.95
15.80
16.15

43.88

47.76

1.86
1.86
2.51
1.68
11.61
8.94
2.67
8.30
16.05

1.89
1.78
3.03
1.23
13.14
10.65
2.49
10.10
16,59

876.2

903.1

922.1

648.0

660.4

682.7

697.8

710.2

730.0

560.4
439.3
19.8
101.3
68.2
68.1
51.3
16.8
23.9

569.6
447.0
19.4
103.3
70.0
69.3
52.4
16.9
24.4

576.5
451.6
18.8
106.0
71.5
70.7
53.1
17.6
24.8

587.3
460.9
19.4
71.8
53.8
18.1
25.0

606.6
475.8
20.8
110.0
76.1
73.3
54.3
19.1
25.2

620.0
487.1
20.5
112.4
77.8
73.2
54.4
18.7
24.2

630.6
494.8
20.4
115.4
79.6
75.3
56.2
19.1
26.2

648.5
509.8
20.6
118.1
81.5
79.0
57.4
21.6
26.9

66.9

76.6

80.1

78.3

79.4

81.8

86.1

16.1
50.8
22.6
16.4
6.2

16.6
59.9
30.9
16.6
14.3

16.4
63.7
31.2
16.8
14.4

17.0
61.3
30.1
16.9
13.3

16.6
62.7
31.2
16.9
14.3

16.5
65.2
35.4
17.7
17.7

17.5
68.5
37.0
17.6
19.4

18.3
71.3
37.9
19.5
18.4

7.8
20.3

7.2
20.9

7.8
21.2

23.7

8.5
22.6

7.6
23.9

7.8
22.0

22.8

9.6
23.8

75.2
34.6
40.6
24.7
15.8
-3.7
34.2

76.6
35.4
41.2
24.9
16.3
-4.6
35.3

69.6
32.2
37.4
24.7
12.7
-2.8
36.5

81.3
38.0
43.2
25.5
17.7
-4.7
37.3

84.5
38.6
45.8
25.4
20.4
-4.4
38.1

84.1
37.5
46.6
25.5
21.0
-5.8
39.1

83.2
35.3
48.0
25.2
22.7
-3.9
39.7

88.2
38.8
49.5
26.0
23.5
-6.5
40.1

40.1
51.5
26.2
25.3
-5.5
40.9

95.7
41.8
53.9
26.5
27.3
-6.1
41.7

-5.9
42.5

785.7
117.8
667.9
621.6
46.3

806.1
119.0
687.2
631.2
55.9

813.4
114.3
699.1
641.1
58.0

819.8
115.8
704.0
644.8
59.2

838.0
112.3
725.7
666.4
59.3

858.1
115.2
742.9
678.8
64.1

867.9
117.5
750.4
689.4
61.0

881.5
123.0
758.5
699.2
59.3

907.0
136.5
770.5
714.9
55.7

922.1
139.5
782.6
732.5
50.1

939.9
141.1
798.8
748.0
50.8

974.3
145.9
828.4
766.0
62.4

81.21
29.99
14.15
15.84

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

22. 79
8.44
4.12
4.32

19.38
6.61
3.29
3.32

22.01
7.63
3.71
3.92

21.86
7.74
3.86
3.87

i 25.30
9.19
4.65
4.54

51.22
2.16
1.67
1.88
1.38
15.30
12. 86
2.44
10.77
18.05

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

10.99
.49
.34
.34
.28
3.11
2.70
.41
2.50
3.94

13.06

2.81
4.44

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

14.35
.59
.45
.56
.37
4.29
3.60
.69
2.84
5.26

12.77
.58
.48
.50
.32
3.63
3.19
.44
2.72
4. f 5

14.38
.61
.48
.73
.39
4.24
3.61
.62
2.95
4.98

14.12
.59

3.58
2.79
.78
2.56
4.16

12.99
.50
.43
.76
.33
3.74
3.12
.63
2.81
4.42

.72
2.84
4.97

16.11
.67
.47
.69
.35
4.85
4.07
.78
2 9. 08

_do.
do.
do_
do.

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

83.18
30.35
14.61
15.74

86.79
30.09
15.06
15.02

87.12
30.37
14.77
15.60

87.67
30.98
15.67
15.31

i 92.36
32.96
16.44
16.52

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

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

52.82
2.30
1.64
2 26
1.33
15.74
13.01
2.74
10.44
19.10

56.70
2.42
2.10
1.96
1.48
16.92
14.27
2.65
11.71
20.10

56.75
2.38
1.88
2.89
1.53
16.60
14.32
2.27
11.59
19.88

56.70
2.40
1.50
2.67
1.41
17.01
14.62
2.38
11.56
20.16

59.40
2.61
1.70
2.57
1.28
17.94
14.89
3.05

15,375
10,231

15,762
10,565

15,932
10,705

15,805
10,462

16,580
11,017

16,675
10,710

17,133
11,479

15,748
9,564

1,478

66,133
42,770
1,922

273

441

329

436

510

516

474

423

334

281

11,426
8,004

12,898
8,543

2,936
1,935

2,779
1,977

2,863
2,035

2,850
2,057

2,937
2,116

3,297
2,152

3,015
2,165

3,651
2,110

3,249
2,371

3,187
2,394

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 INCOME f
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:
All industries
bil. $..
Manufacturing
do
Durable goods industries J
do
Nondurable goods industries J
do

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

851.4
639.6

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

Nonmanufacturing
Mining __
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication
Commercial and other

834.5

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

U.S. BALANCE OF INTERNATIONAL
PAYMENTScf1
Quarterly Data Are Seasonally Adjusted
(Credits -f; debits - )
Exports of goods and services (excl. transfers under
military grants)
mil. $.. 55,502
36,417
Merchandise, adjusted, excl. military
do
Transfers under U.S. military agency sales contracts
mil. $.. 1,512
Receipts of income on U.S. investments
abroad
mil. $.. 10,539
7,034
Other services
do

62,870
41,963

.46
.46
.74
.30

.54
.47
.60

3 20

107.0
73.0

943.0

.38
.61
.35
4.39
3.67

26.7

2 33.30

17, 745 17,307 •18, 377
11, 791 11,445 -12,307
*>250
421
*>2,399
-19,273
-13,895
-1,080

P3,

-53,591 -59,307 -65,406 -14,477 -14,795 -14,943 -15,093 -15,444 -16,639 -17,042 -16,285 -18,933 —18,908
-35, 796 -39, 799 -45,459 - 9 , 731 -9,831 -9,968 -10,269 -10, 728 -11, 722 -11,951 -11,058 -13,478 -13,393
-4,856 -4,852 -4,816 -1,180 - 1 , 259 - 1 , 210 - 1 , 203 -1,175 -1,214 -1,198 - 1 , 230 -1,218 -1, 239
-4,564 -5,167 -4,903 -1,344 -1,322 - 1 , 284 -1,217 -1,139 -1,106 - 1 , 304 -1,356 -1,387 -1,417 -1,497
-8,376 -9,491 -10,227 -2, 222 -2, 383 -2,481 -2,404 -2,402 -2,597 - 2 , 589 -2,641 -2,850 -2,859 v -2,801
91
-537 -1,188 -1,601 p-896
712
989
967
1,136
36
3,563
727
1,911
Balance on goods and services, total
do
193
734
737
621
2,164 -2,689
500
-472 -1,494 -1,687 -1,948 -1,588
289 -1,012
Merchandise, adjusted, excl. military
do
T
l
penditures, interest paid by consumers, and personal transfer payments to foreigners.
Revised.
* Preliminary.
»
Estimates (corrected for systematic biases) for Oct.§ Personal saving is excess of disposable income over personal outlays.
Dec. 1972 and Jan.-Mar. 1973 based on expected capital expenditures of business. Expected
•jfData for individual durable and nondurable goods industries components appear in the
expenditures for3the year 1972 appear on p. 19 of the Dec. 1972 SURVEY.
2 includes comMar., June, Sept., and Dec. issues of the SURVEY.
cfMore complete details appear in the
munication.
See note l on p. S-l.
t See corresponding note on p. S-l.
9 Includes
quarterly reviews in the Mar., June, Sept., and Dec. issues of the SURVEY.
inventory valuation adjustment.
© Personal outlays comprise personal consumption exImports 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




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