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SUEVEY OF CUREENT BUSINESS

12

June 1972

NATIONAL INCOME AND PRODUCT TABLES
1970
1970

IV

1971

1972

1971
II

IV

III

1970
1970

1971

1971

IV

Seasonally adjusted at annual rates

II

1972

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)

974.1 1,046 8

..
-

Change in business inventories
Nonfarm
Farm. .

- - -

- -

735 8

740 7

751 3

761 6

677 2

691.8

475 9

491 8

474 2

484 8

489 4

494 3

498 9

505 i

100.5
278.6
282.9

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 6
283 3
290.3

107.6
288.0
296.2

81.4
207.3
187.2

89.5
211.4
190.9

76 6
209 7
187.9

85 9
210 0
188 9

87 8
211 5
190 1

91 2
211 6
191 4

93 0
212 7
193 2

95 5
214 3
195 3

151.6

137.3

143.3

152.9

150.8

159 4

168.3

102.2

108.5

101 2

104 3

110 0

106 7

112 9

116 5

149.3

133.6

140.2

148.3

152.0

157 0

167.7

99.9

106.3

98 1

101 8

105 9

107 2

110 5

116 2

108.7
38.2
70.5

100.8
37.1
63.7

104.7
36.7
68.1

108.3
38.5
69.8

109.3
38.7
70.6

112.6
39.0
73.6

118.7
39.8
78.9

78.6
24.2
54.4

79.3
22.4
56.9

75.5
23.5
52 0

77.7
22.6
55 0

79 1
22.9
56 2

78 9
22.1
56 8

81.5
22.1
59 3

84 8
21.9
62 9

30.4
29.7
.6

40.6
40.1
.5

32.8
32.2
.6

35.4
35.0
.4

40.0
39.5
.5

42.7
42.1
.6

44.4
43.8
.6

49.0
48.4
.6

21.3
20.9
.4

27.0
26.7
.4

22.6
22 2
.4

24.1
23 8
.3

26.7
26 4
.3

28.3
27 9
4

29.0
28 6
4

31 4
31 0
4

2.2
1.7
.5

3.7
3.3
.4

3.1
2.9
.2

4.6
4.1
.5

-1.2
-2.0
.8

2.4
2.0
.5

.6
.1
.4

2.3
2.0
.3

2.1
1.7
.5

31
2.8
.4

2.5
2.3
.2

41
3.6
.5

— 5
—1.2
.7

24
1.9
.5

3
— 1
4

3.6

Residential structures
Nonfann
Farm

729 7

668 8

2.8
2.5
.3

NonresidentiaL _
Structures
Producers' durable equipment

715 9

657.4

135.3

- -_

Fixed investment

739 4

644.9

102.1
36.8
65.4

Gross private domestic investment

720 0

624 7

88.6
264.7
. 262.5

- _ _

..

1103. 6

662 1

132.5

Durable goods
Nondurable goods
Services

988. 4 1, 020. 8 1, 040. 0 1,053 4 1 072 9

615 8

Gross national product
Personal consumption expenditures

.0

-

--

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

.1

65.3
65.3

66.5
66.4

68.2
68.2

233.0

223.7

227.9

229.6

97.6
71.4
26.2

95.9
73.2
22.7

96.4
72.6
23.7

96.0
71.4
24.6

122.2

-

4.7

66.2
61.5

219.4

.

2.7

63.2
60.5

97.2
75.4
21.9

Exports _ _ . . . _ .
Imports

.0

62.9
59.3

135.5

127.9

131.6

133.6

2.4

—.1

2.1

3.0

-.5

.1

—3 0

—4 1

60.4
65.0

69.2
75.4

52.2
49.8

52.1
52.2

51.9
49.8

52.9
49.8

53.1
53.7

54.5
54 4

47.7
50.8

54.0
58 0

233.8

240.8

249.6

139.4

139.2

138.3

137.6

137 0

139 6

142 6

144 1

97.6
70.2
27.4

100.3
71.4
28.9

104.9
75.8
29.0

65.4

62.2

63.2

61.3

60.7

62.7

64.0

64 2

136.2

140.5

144.8

74.0

77.0

75.2

76.3

76.3

76.8

78.6

79 9

-4.6

-6.2

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
974.1 1,046.8

_

_.

.

Goods output

-

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

Services

. --_

_

-_ __

Nondurable goods
Final sales
_ _
Change in business inventories _
Structures

--

__

988.4 1,020.8 1,040.0 1,053.4 1,072.9

1103.6

720.0

739.4

715.9

729.7

735.8

740.7

751.3

761.

971.3 1, 044. 5
2.2
2.8

984.7 1, 017. 7 1, 035. 4 1, 054. 6 1, 070. 4
3.1
3.7
4.6
-1.2
2.4

1103. 0
.6

717.7
2.3

737.3
2.1

712.8
3.1

727.2
2.5

731.7
4.1

741.2
—.5

748.9
2.4

761.

468.3

494. 3

467.7

485.5

490.8

496.2

504.5

517.3

383.0

393.6

376.7

388.1

390.2

394.4

401.6

407.

465.5
2.8

Gross national product . Final sales
C hange in business inventories

492.0
2.2

464.0
3.7

482.4
3.1

486.2
4.6

497.4
-1.2

502.0
2.4

516.8
.6

380.7
2.3

391.5
2.1

373.6
3.1

385.6
2.5

386.1
4.1

394.9
— .5

399.3
2.4

406.

180.2
180.8
-.6

194.1
193.7
.4

169.7
173.1
—3.4

192.8
189.4
3.5

193.0
190.6
2.3

193.9
196.4
—2.5

196.6
198.4
-1.8

208.1
207.9
.2

156.1
156.8
-.6

163.9
163.4
.5

144.4
147.5
—3.1

162.4
159.6
28

162.3
160.2
2 2

163.7
165.3
—1 6

167.1
168.4
—1 4

174.
174.

288.1
284.7
3.4

300.2
298.3
1.9

297.9
290.9
7.1

292.7
293.1
-.4

297.8
295.5
2.3

302.3
301.0
1.3

307. 9 .
303.6
4.3

309.2
308.8
.3

226. 9
223.9
3.0

229.7
228.1
1.6

232.3
226.1
6.2

225.7
226.0
-.3

227.8
225.9
2.0

230.7 234.6
229.6 230.8
3.7
1.1

232.
232.

410.3

443.3

420.6

432.3

441.0

446.3

453.6

465.0

273.4

278.6

274.5

276.2

278.4

278.9

280.8

283.

95.5

109.2

100.1

102.9

108.2

110.8

114.7

121.3

63.6

S7.2

64.7

65.4

67.2

67.3

68.8

71. '

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

_ ..

Households and institutions

1103. 6

720.0

739.4

715.9

729 7

735 8

740 7

751 3

761 6

871.6

899.2

916.9

928.9

945.9

971.6

659.4

678.3

655.4

668.9

674.9

679.4

689.8

699.8

823.4
795.2
28.2

880.7
850.7
30.0

833.5
806.4
27.1

859.2
831.1
28.1

874.6
845.7
28.9

886.9
856.1
30.8

902.1
870.0
32.0

927.4
895.3
32.1

638.5
614.6
23.9

655.3
629.7
25.6

634.1
609.2
24.9

646.6
621.7
24.9

651.4
626.4
25.0

656.9
630.1
26.8

666.3
640.7
25.6

676.6
653.0
23.6

31.7

35.5

33.0

34.2

35.0

35.9

36.8

38.0

17.0

17.8

17.1

17.6

17.7

17.8

18 1

18 5

6.5

5.1

5.8

7.3

6.0

7.0

6.2

4.0

5.2

4.2

4.7

5.8

4.7

5.4

4.7

114.4

Nonfarm_ . _
Farm

988.4 1, 020. 8 1,040.0 1,053.4 1,072.9

922.7

4.6

Private

974.1 1,046.8

859.8

Gross national product

124.0

116.8

121.5

123.1

124.5

127.0

132.0

60.6

61.1

60.5

60.8

60.9

61.3

61.5

61.8

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. BE A 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 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

1969

1971

1970

I

II

1970

III

IV

I

II

1971

III

IV

I

II

Annual total

1972

ni

IV

I

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
__bil.$__

929.1

974.1 1, 046. 8

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

1,072.9

1,10 .6

Personal consumption expenditures, total

do

579.6

615.8

662.1

564.3

575.8

584. 1

594. 2

604.0

613.8

620.9

624.7

644. 9

657.4

668.8

677. 2

691.8

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

do
do
do

89.9
40.4
36.3

88.6
37.1
37.4

100.5
46 2
39.6

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

99.1
45.3
39.4

102. 8
48.2
39.6

103.6
47 6
40.8

107.6
48.7
43.6

247.6
50.3
122.5
21.1

264.7
52.6
131.8
22.9

278.6
57.0
136.5
24.4

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

273.2
55.4
134.4
23.8

277. 8
57.0
136.3
23.8

280.2
57.4
137.3
24.5

283 3
58 0
138 1
25 4

288.0
59.0
140.7
25.4

262.5
36.1
91.2
17.9

282. 9
39.2
99.7
19.1

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
96.5
18.6

280.5
38.9
98.7
19.0

285.8
39.9
100. 7
19.2

290 3
40 5
102 8
19.6

296. 2
41.2
104.8
20.0

Gross national product, total

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

___

__do _
do
do
_ _ _
do _
- - - -

do
do
do
do

242. 1
33.7
84.0
16.5

Gross private domestic investment, total.

_do

Services total 9
•
Household operation >.
Housing
Transportation

137. 8

135.3

151.6

134.3

137.0

141.8

138.0

131.2

134.1

138.6

137.3

143.3

152.9

150 8

159 4

168.3

do
do __
do
__.do
do
do
_do
do

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

149.3
108.7
38.2
70.5
40.6
40.1
2.2
1.7

127.6
95.0
33.1
61.8
32.7
32.1
6.6
6.5

130.2
96.6
33.0
63.6
33.6
33.1
6.8
6.7

131.4
100.7
36.0
64.7
30.7
30.1
10.4
10.3

132.3
102.2
36.0
66.2
30.1
29.5
5.7
5.5

130.8
100.8
36.1
64.7
30.0
29.4.4
.1

132.1
102.1
36.6
65.6
29.9
29.3
2.1
1.8

133.5
104.8
37.3
67.5
28.7
28.1
5.1
4.7

133.6
100.8
37.1
63.7
32.8
32.2
3.7
3.3

140.2
104 7
36 7
68.1
35 4
35 0
31
2 9

148.3
108 3
38.5
69.8
40 0
39 5
4 6
4 1

152.0
109 3
38 7
70.6
42 7
42 1
—1 2
—2 0

157.0
112 6
39 0
73.6
44 4
43 8
24
20

167.7
118.7
39.8
78.9
49.0
48.4
.6
.1

do
do
do

2.0
55.6
53.6

3.6
62.9
59.3

.0
65.3
65.3

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

4.7
66 2
61 5

.1
66 5
66 4

.0
68 2
68 2

-4.6
60 4
65 0

-6.2
69.2
75.4

209.7
Govt. purchases of goods and services, total. _do
99.2
Federal.
...
'.
do
78.4
National defense
do
State and local
... ... _ _do_ _ 110.6

219.4
97.2
75.4
122.2

233.0
97.6
71.4
135.5

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

227.9
96 4
72 6
131 6

229.6
96 0
^-'71 4
133 6

233.8
97 g
70 2
136 2

240.8
100 3
71 4
140 5

249.6
104.9
75.8
144.8

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

971.3 1,044.5
492.0
465.5
193.7
180.8
298.3
284.7
443.3
410.3
109.2
95.5

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 1,017.7 1,035.4
486.2
482.4
464.0
190.6
173.1
189.4
295.5
290.9
293.1
441.0
420.6
432.3
108.2
100.1
102.9

1,054.6
497.4
196.4
301.0
446.3
110. 8

1,070.4
502.0
198.4
303. 6
453.6
114.7

1,103.0
516.8
207.9
308.8
465.0
121.3

2.4
-1.8
4.3

.6
.2
.3

Fixed investment
Nonresident ial
Structures
Producers' durable equipment
Residential structures
Nonfarm
Change in business inventories
Nonfarm
_

- - ;

Net exports of goods and services
Exports
Imports. _ _ _ _

do
do
do
do
do
do

_ _
_

921.7
449.9
180.9
269.0
377.4
94.4

do
do
do _

7.4
4.5
2.9

2.8
-.6
3.4

2.2
.4
1.9

6.6
3.8
2.8

6.8
4.7
2.1

10.4
6.5
4.0

5.7
3.0
2.8

.4
-1.8
2.2

2.1
-2.0
4.0

5.1
4.7
.4

3.7
-3.4
7.1

3.1
3.5
-.4

4.6
2.3
2.3

-1.2
-2.5
1.3

biL $

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

724.7

720.0

739.4

721.4

724.2

727.8

725. 2

719.8

721.1

723. 3

715.9

729. 7

735.8

740.7

751.3

761.6

494. 3

498.9

505.1

91.2
211.6
191. 4

93.0
212.7
193.2

95.5
214.3
195.3

GNP in constant (1958) dollars
Gross national product, total
Personal consumption expenditures, total
Durable goods
Nondurable goods
Services..

do

469.3

475. 9

491.8

465.7

469.0

469.9

472.6

474.4

477.1

477.9

474. 2

84.8
202.7
181.8

81.4
207.3
187.2

' 89.5
211 4
190 9

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

484.8

489.4

_ _

do
do
do

Gross private domestic investment, total

do

109.6

102.2

108.5

108.4

109. 4

112.4

108. 2

101.0

102.7

104.0

101.2

104.3

110.0

106.7

112.9

116.5

do
do
do
_do

103.2
80.1
23.1
6.4

99.9
78.6
21.3
2.3

106.3
79 3
27.0
2.1

102.8
78.6
24.1
5.7

103.5
79.1
24.4
5.8

103.2
81.1
22.1
9.2

103.3
81.7
21.6
4.9

100.7
79.3
21.4
.3

100.7
79.4
21.3
2.0

100. 1
80.1
20.0
3.9

98.1
75.5
22.6
3.1

101 8
77 7
24 1
25

105.9
79 1
26 7
4 1

107.2
78 9
28.3
—.5

110.5
81.5
29.0
2.4

116.2
84.8
31.4
.3

do

.1

2.4

-.1

-.5

-.3

.6

.6

1.7

2.6

3.2

2.1

3.0

-.5

.1

138.3
63.2
75.2

137.6
61.3
76.3

137.0
60.7
76.3

139.6
62.7
76.8

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

Govt. purchases of goods and services, total, .do
Federal
_ _
do
State and local
_
do _
r
Revised.
p Preliminary.




145.6
73.8
71.9

139.4
65.4
74.0

139.2
62 2
77.0

147.8
76.3
71.4

146.1
73.9
72.1

144. 8 143.8
138.7
142.6
138. 2
73.2
69.4
71.6
65.3
63.8
73.4
71.6
73.2
72.2
74.3
9 Includes data not shown separately.

85.9
210 0
188 9

87.8
211.5
190.1

-3.0

-4.1

142.6
64.0
78.6

144.1
64.2
79.9

s-1

SURVEY OF CUREENT BUSINESS

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

1971

1970

1969

III

Annual total

June 1972

IV

I

II

1971

III

IV

I

II

1972

III

IV

I

II

III

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

763.7

795.9

851.1

771.7

778.2

785.8

793.4

802.2

802.1

831.7

847.3

855.2

870. 1 '899.0

Compensation of employees, total

do

565.5

601.9

641.9

573.6

583.6

593.2

598.5

606.5

609.3

627.3

638.0

645.6

656.6

679.9

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

509.6
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

574.2
450.4
18.6
105.2
67.7
68.3
52.1
16.3
24.3

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

561.4
440.3
19.2
101.8
65.9
66.4
51.6
14.8
23.8

571. 0
448.4
18.6
104.0
67.0
67.2
51.9
15.2
24.2

577.3
452.3
18.0
106.9
68.3
69.2
52.3
17.0
24.5

587.0
460.3
18.6
108.1
69.6
70.5
52.5
18.1
24.6

607.3
475.6
19.9
111.8
72.6
71.2
52.6
18.7
24.8

78.6

70.8

81.0

78.0

73.3

69.8

71.5

73.0

69.0

79.5

82.5

80.0

82.0

'86.3

13.7
68.9
35.0
18.1
17.0

14.2
65.8
33.0
18.1
14.8

14.0
68.1
34.6
18.3
16.2

'14.2
'72.1
39.4
19.3
20.1

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

12.1
66.5
36.0
17.5
18.4

12.8
58.1
29.5
16.6
13.0

14.0
67.0
"34.2
C
17.9
c
16.3

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

14.2
65.3
34.4
17.2
17.2

10.0
20.6

8.0
20.5

8.5
'24.2

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

8.8
24.7

9.0
23.7

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

85.4
37.8
47.6
25.5
22.1
-4.4
35.6

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

83.0
38.3
44.8
25.6
19.2
-3.5
34.8

86.9
39.1
47.8
25.4
22.4
—4.4
35.4

85.8
37.5
48.2
25.7
22.5
-5.8
35.9

86.0
36.4
49.7
25.3
24.4
-4.0
36.4

'91.9
'39.4
'52.5
25.8
'26.6
-5.6
36.9

750.3
116.2
634.2
596.3
37.9

803.6
115.9
687.8
633.7
54.1

857.0
115.8
741.3
680.7
60.5

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

833.5
111.6
722.0
663.3
58.6

853.4
113.8
739.6
676.0
63.6

864.6
116.0
748.5
687.6
61.0

876.7
121.7
755.0
696.0
59.0

900.1
135.7
764.3
710.8
53.5

75.56
31.68
15.96
15.72

79.71
31.95
15.80
16.15

81.21
29.99
14.15
15.84

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

22.79
8.44
4.12
4.32

' 19. 38 i 22. 90 122.41
'6.61 '8.18
7.96
'3.29 '4.09
3.95
'3.32 '4.09
4.00

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

51.22
2.16
1.67
1.88
1.38
15.30
12.86
2.44
10.77
18.05

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
.54
.47
.60
.36
3.83
3.20
.63
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 ' 14. 72
'.58
'.61
'.48
'.47
'.50
'.76
'.32
'.38
'3.63 '4.27
'3.19 '3.56
'.44
'.71
2.72
'4.55 '2 8. 24

27.96

do
do
do
do

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

83.18
30.35
14.61
15.74

' 86. 79 'i
' 30. 09 '
' 15. 06 '
' 15. 02 '

89.72
31. 86
16.02
15.84

do
do
do
do
do
do
do
do
do
do

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

52.82
2.30
1.64
2.26
1.33
15.74
13.01
2.74
10.44
19.10

' 56. 70 ' 58. 14 57.86
'2.42 '2.36
2.36
1.92
'2.10 '1.87
2.20
'1.96 ' 3. 01
1.36
'1.48 ' 1. 46
' 16. 92 ' 16. 71 17.69
' 14. 27 ' 14. 13 14.82
2.87
'2.65 '2.58
11.71
' 20. 10 '2 32. 72 2 32. 33

Corporate profits befo e 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
Quarterly Data Seasonally Adjusted at Annual Bates
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 f
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 f
Nondurable goods industries If
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication..
Commercial and other

_

U.S. BALANCE OF INTERNATIONAL
PAYMENTScF
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
military grants)
mil. $
Merchandise, adjusted, excl . military
do__Transfers under U.S. military agency sales contrap ts
-mil $
Receipts of income on U.S. investments
abroad
.....mil. $.
Other services
do—-

90. 69
32. 55
16. 26
16. 29

14.46
.58
.49
.50
.34
4.59
3.72
.87

17,685
' 55,501 ' 62, 874 ' 66, 136 ' 14,526 ' 14,800 ' 15,375 ' 15,762 ' 15,932 ' 15,805 ' 16,580 ' 16,675 ' 17,133 ''15,748 P 11,809
r
' 36,417 ' 41, 963 ' 42, 770 ' 9, 574 ' 9, 871 '10,231 ' 10,565 ' 10,705 ' 10,462 ' 11,017 ' 10,710 11,479 r 9, 584 v
?357
'423
'474
510
'516
'441
'329
'436
336
'441
'1,512 ' 1, 479 ' 1, 923
'273

10, 539 ' 11, 428 ' 12, 900 ' 2, 706 ' 2, 775 ' 2, 936 ' 2, 779 ' 2, 863 ' 2, 850 ' 2, 937 ' 3, 297 ' 3, 015 ' 3, 651 p 3,201
' 7, 033 ' 8, 004 ' 8, 543 ' 1, 805 ' 1, 818 ' 1, 935 ' 1, 977 ' 2, 035 ' 2, 057 ' 2, 116 ' 2, 152 ' 2, 165 ' 2, 110 * 2,318
p-18,832
Imports of goods and services
do.. '-53, 594 '-59, 308 -65, 410 '-13,864 '-14, 12 '-14, 477 '-14, 79 '-14, 943 '-15, 09 -15, 444 '-16, 639 '-17, 042 -16, 285 p-13,482
'-35, 79 '-39, 799 -45, 459 '-9, 271 '-9, 381 '-9, 731 -9, 831 '-9, 968 '-10, 26 -10, 728 '-11, 722 '-11, 951
Merchandise, adjusted, excl. military
do_
-1, 230 p-1,223
Direct defense expenditures..
..do... -4, 856 '-4,852 -4, 817 -1, 221 -1,251 '-1, 180 '-1, 259 '-1, 210 -1, 203 -1, 175 -1,214 '-1, 198
Payments of income on foreign investments in the
U.S..
..mil. $. -4, 564 -5, 167 -4, 905 -1, 242 -1,315 '-1, 344 -1, 322 -1, 284 '-1, 217 -1, 139 '-1, 106 '-1, 304 -1, 356 p-1,365
'-8, 377 '-9,490 -10, 229 '-2, 130 '-2, 182 '-2, 222 '-2, 383 '-2, 481 '-2, 404 -2, 402 '-2, 597 '-2, 589 -2, 641 p-2,762
Other services.... _ _
do
'91 ' -537 p-1,147
'36
670 ' 1, 136
995
1,045
'662
881
'671
' 1, 907 ' 3, 563
'727
Balance on goods and services, total..
do
'281 '-1, 012 ' -472 '-1,494 p-1,673
142
704
751
'490
513
'303
Merchandise
do._2,110 '-2,681
'621

' Revised.
v Preliminary.
* Estimates (corrected for systematic biases) for Apr.June and July-Sept. 1972 based on expected capital expenditures of business. Expected expenditures for the year 1972 appear on p. 19 of the June 1972 SURVEY.
2 includes communication.
9 Includes inventory valuation adjustment.
©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

°U1[Data for individual durable and nondurable goods industries components appear in the
Mar., June, Sept., and Dec. issues of the SURVEY. tfMore complete details appear in the
quarterly reviews in the Mar., June, Sept., and Dec. issues of the SURVEY.
'Corrected.

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