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11

SUKVEY OF CURRENT BUSINESS

December 1972

NATIONAL INCOME AND PRODUCT TABLES

II

1971

1970

III

I

IV

II

1972

1971

1972

1971

III

1970

II

1971

III

I

IV

II

III

Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

BiUions of 1958 dollars

Billions of current dollars

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

Durable goods
Nondurable goods
Services
.

741.7

737.9

742.5

754.5

766.5

783.9

796.1

664 9

660 4

670 7

680 5

696 1

713.4

728.6

477.0

495 4

493 0

497.4

503 2

511. 0

520.9

528.7

90 5
264 4
261.8

103 5
278 1
283.3

101 9
277 2
281.3

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

83 1
207.0
186.8

92 1
211 1
192 2

90 0
211 2
191.8

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

137 1
132 2

152 0
148 3

153 0
146 4

152 2
150 9

158 8
157 2

168 1
167 7

177.0
172 0

183 2
175 2

104 0
99 9

108 6
105 9

110 0
104 7

107 3
106 6

112 0
111 3

116.6
116 3

122.0
118 0

125.5
119. 3

100.9
36 0
64.9

105. 8
38 4
67.4

105.0
38 3
66.7

106.3
38 7
67.6

109.8
38 8
71.0

116.1
41 3
74.8

119.2
42 0
77.2

120 7
41 8
79.0

77.6
23 6
54.0

76 8
22 8
54 0

76 4
23 0
53.3

76 4
22 5
53.9

79 2
22 2
57.0

82. 2
23 0
59.2

83.6
23 0
60.6

84.2
22.6
61.6

31.2
30 7

42.6
42 0

34.4
34 0

35.1
34.6

39
34

6.2
6.2
.1

976.4 1,050 4 1,043 0 1,056 9 1,078. 1 1,109.1 1,139.4 1,164.0

_.

Gross private domestic investment
Fixed investment
NonresidentiaL
Structures
Producers' durable equipment.
Kesidential structures
Nonfarm .
Farm

722.1

616 8

Gross national product.
Persona] consumption expenditures

_

41.4
40 9

47.3
46 7

51 6
51 0
'6

52.8
52.1

54 4
53 7

22 3
22 0

29 1
28 7

28 3
28 0

30 1
29 7

32 1
31 7

34. 2
33 g

5

44 5
43 9

6

4

4

36
2 4

13
— 2
16

17

g
9

4
1
3

5.0
4.3
.7

80
79

41
4 0

53
4 0
13

7

3

o

2 6
16
11

7
— 6
13

•— 1

_ i

1.2

66
51
15

g

3

3 6

7

1

4

—2.1

—4 6

-5.2

34

22

1

— 7

1

—1 8

—3 3

—2 8

-.7

62 9
59 3

66 1
65 4

66 7
66 6

68 5
68 2

63 0
65 1

70 7
75 3

70.0
75.2

74 4
77 8

52 2
50 0

52 6
52 5

53 0
53 8

54 4
54 3

49 9
51 7

55 5
58 9

54 2
57.0

57 2
57 9

219.0

232.8

229.5

233.6

240.9

249.4

254.1

255.6

139.0

137.6

137. 6

141.1

142.2

143. 9

142.6

105 4
75 1
30 2

64 7

60 8

59 7

61 0

62 3

62 8

63.7

60 8

150 2

74 3

76 8

76 0

76 7

78 8

79.4

80.3

81.8

5

Change in business inventories
Nonfarm
Farm

4 9
48

.1

Net exports of goods and services .
Exports. ._
Imports..
Government purchases of goods and services
Federal
_
National defense
Other...

7

6

.6

96.5
75.1
21.5

State and local

96 3
71.2
25.0

97 9
70 1
27.8

100 7
71.9
28.7

105 7
76 7
28.9

122.5

_.

97.8
71.4
26.3

108.1
78.6
29.6

135.0

133 3

135 7

140 2

143 7

146 0

3

1

4

4

4

135.7

5

4

.5

5

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

_ >

976.4 1 050 4 1 043 0 1 056 9 1 078 11 109 11 139 4 1 164 0

Goods output

-

722 1

741 7

737 9

971 5 1 046 7 1 036 4 1 055 6 1 076 4 1 108 6 1 134 4 1 156 0
4
4 9
36
66
13
17
50
80

Final sales
„_
Change in business inventories

718 0
41

739 1
2 6

732 6
53

0

onq o

742 5

754 5

766 5

783 9

796 1

741 7

753 8

766 3

3

780 0
39

789 8
6 2

7

7

471 9

495 5

492 4

497 5

504 8

517 6

537 1

550 4

OOP

391 0

394 5

400 4

407 0

'420 7

428 7

Final sales
Change in business inventories

467 0

4.9

491 8
36

485 8
6 6

496 2
13

503 1
17

517 2

'4

532 1
50

542 4
80

381 7
41

391 2
2 6

385 7
53

393 7

399 7

406 8

3

416 7
39

422 5
6 2

Durable goods
Final sales
Change in business inventories

184 9
183.0

1.9

195 7
194 e
1i

194 5
191 0
36

196 7
197 7
—1 0

198 2
200 1
—1 9

209 2
208 8

4

217 6
214 6
30

226 1
220 7
54

160 0
158 6
14

164 5
163 8

g

162 8
160 0
28

164 9
166 0
—1 1

167 4
169 5

175 0
174 8

3

181 4
179 1
2 3

187 9
183 8
41

Nondurable goods
Final sales
Change in business inventories
Services
_

287 0
284 0
30

299 8
297 3
2 5

297 9
294 8
31

300 g
298 5
2 3

306 6
303 0
35

308 4
308 4

319 6
317 5

2.1

324 3
321 7
26

225 8
223 2
2 6

229 4
227 3
2 0

228 3
225 7
2 6

229 5
227 7
19

233 0
230 2

232 0
232 0

0

239 2
237 6

2*8

1.6

240 9
238 7
2 2

409 2

443 9

441 1

446 7

456 3

467 3

4.77 1

487 3

272 5

278 4

278 2

278 4

282 3

285 2

289 3

293 2

95 4

111 0

109 5

112 7

117 0

124 2

125 0

126 3

63 8

69 5

68 8

69 6

71 8

74 3

74 0

74 1

796.1

Structures

o

7

7

—21

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

976.4. 1,050.4 1 043 0 1 056 9 1 078 11 109 I 1 139 4 1 164 0

Households and institutions
Eest of the world
General government -

-

741 7

737 9

742 5

754 5

766 5

783.9

925 6

919 3

931 4

950 2

976 6 1 005 0 1 026 6

661 3

681 0

677 5

681 7

693 7

705 6

723 0

734 5

826 3
797 3
28 9

Business
Nonfarm
Farm

722 1

861 8

884 7
853 9
30 9

878 7
848 5
30 2

890 9
859 6
31 2

906 6
874 5
32 1

933 7
901 8
31 9

960 8
928*2
32 6

980 4
947 4
33 0

640 7
616 0
24 7

658 5
633 0
25 5

654 8
629 3
25 4

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

30.9

33 9

33 2

34 3

35 1

36 0

37.3

38 6

16 7

16 9

16 7

16 9

17 1

17.4

17.7

18.2

4 6

6 9

7 4

6 2

85

68

69

76

4 0

56

6 0

50

68

54

5.2

5.6

114 7

124 8

123 7

125 5

127 9

132 5

19 A A

60 5

60 8

60 8

60 9

60 9

61 6

137 4

60 7

60 7

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. BEA 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.




CURRENT BUSINESS STATISTICS

J.HE STATISTICS here update series published in the 1971 edition of BUSINESS STATISTICS, biennial statistical supplement to the SUBVEY
OF CUBRENT 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 SUBVEY 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

1970

1969

1971

III

IV

I

II

|

1971

III

IV

I

|

II

|

1972

i

III | IV

Annual total

n |m

Seasonally adjusted quarterly totals at annual rates

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

930.3

976.4 1,050.4

941.7

948.9

958.0

971. 7

986.3

989.7 1,023.4 1,043.0 1,056.9 1,078.1

do

579. 5

616.8

664.9

583.7

594. 4

604.1

613.4

623.0

626.5

648.0

660.4

670.7

680.5

Durable goods total 9
• •*. do
Automobiles and parts
- do
Furniture and household equipment
do_

90.8
40.2
37.1

90.5
37.3
39.0

103.5
46.7
42.0

90.6
40.2
37.1

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

do
do _
__do
do_

245.9
50.2
120.6
20.9

264. 4
52.0
132. 1
22.2

278.1
56.9
136.4
23.5

247.3
50,7
120. 8
21.2

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

273.4
55.1
135. 1
23. 0

277. 2
56.7
135.9
23.0

- - do
do_ _
do
_.do

242.7
33.8
84,1
16.6

261.8
36.3
90.9
18.2

283.3
39.5
99.2
19. 9

245.8
34.0
85.0
16.8

251.9
35.1
87.2
17.1

256. 1 ,259.4
35.3
35.9
88.7
90.1
17.7
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

Gross national product, totalf— — --Personal consumption expenditures, total

Nondurable goods total 9
Clothing and shoes
Food and beverages
- _
Gasoline and oil- _
Services total 9
Household operation ^
Housing
_ _
Transportation
_

- - -

.„

1,109.1 1,139.4

1,164.0

696. 1

713.4

728.6

106.1
47.9
43.5

111.0
49.9
46.5

113. 9
51.3
46.8

118.6
54.8
47.9

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

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

__do_ _

139.0

137. 1

152.0

143. 8

137.9

132. 9

137.7

139.9

137.8

143.9

153.0

152.2

158.8

168. 1

177. 0

183.2

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

131.1
98.5
34.2
64.3
32.6
32.0
7.8
7.7

132.2
100.9
36.0
64.9
31.2
30.7
4.9
4.8

148.3
105.8
38.4
67.4
42.6
42.0
3.6
2.4

133.2
100.2
35.4
64.8
33.0
32. 0
10.6
10.6

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
62.1
5.0
4.3

175.2
120.7
41.8
79.0
54.4
53.7
8.0
7.9

Net exports of goods and services
do____
Exports
- do_ _
Imports
- - ____
do

1.9
55.5
53.6

3.6
62.9
59.3

.7
66.1
65. 4

2. 6
58.1
55.5

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

.1
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

Govt. purchases of goods and services, totaL.do
Federal
_
. __ - do
National defense
do
State and local
-do _

210.0
98.8
78.4
111.2

219.0
96.5
75.1
122.6

232.8
97. 8
71.4
135.0

211. 6
99.3
79.4
112.3

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

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

922. 5
449.7
182.3
267.4
377.9
94.9

971.5 1,046.7
467.0 491.8
194.6
183.0
284.0 297.3
443.9
409.2
95.4
111. 0

931.1
451.8
183.0
268.8
383.2
96.1

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 1,018.5 1 036 4
465.6
482 2
485 8
174.8
189.6
191.0
290. 7
292 6
294 8
418 7
431 3 441 1
99.8
105 0
109 5

5.5
3.7
1.9

1.5
1.0
.5

6.3
1.6
4. 7

6.2
6.0
.2

Gross private domestic investment, total

__
_ _•__
_

Change in business inventories.—
Durable goods
Nondurable goods

do
do
do
do
do
_ _ do _
ck>___._
-do
___--do_._.

7.8
5.0
2.8

4.9
1.9
3.0

3.6
1.1
2.5

10.6
6.5
4.1

725.6

722.1

741.7

729.2

725.1

720.4

723.2

469.1

477.0

495. 4

469.5

472.2

474.1

476. 9

86.6
201.3
182. 2

83.1
207.0
186.8

92.1
211.1
192.2

85.0
201,2
183.3

85.4
201.5
185.2

83.8
204.4
185.9

110.5

104.0

108.6

114. 0

107.4

102.0

99.9
77.6
22.3
4.1

105.9
76.8
29.1
2.6

104.6
80. 9
23.7
9.4

102.8
80.9
21.9
4.6

2.2

.1

.7

.8

5.7
— 9
6.6

4.9
37
1.2

726. 8

718.0

731.9

737.9

480.2

476.5

488.2

493.0

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

105. 6

106.2

102,2

105.0

110.0

6.6
36
3.1

1,055 6 1,076.4 1,108.6 1,134.4 1 1560
532 1
496 2
503.1 517 2
5424
197.7 200.1 208.8 214.6
220.7
317.5
321.7
298 5 303.0 308.4
456 3
467 3 477 3
446 7
4873
125. 0
124.2
126.3
112 7
117. 0
1.7
—1 9
3.5

.4
.4
.0

5,0
30
2.1

8.0
54
2.6

742.5

754. 5

766.5

783.9

796.1

497. 4

503. 2

511.0

520. 9

528.7

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

107.3

112,0

116.6

122. 0

125.5

116.3
82.2
34.2
.3

118.0
83.6
34.4
3.9

119.3
84.2
35.1
6.2

-3.3

—2.8

-.7

1.3
—I 0
2.3

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

-

bil. $__

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

_

_ _ _ _ _

Gross private domestic investment, totalf
Fixed investment
_
Nonresidential
Residential structures _
Change in business inventories
Net exports of goods and services—

do
do
-do
do____

do
_ _ . _ do
do
____.do____
do____

103.8
80. 1
23.7
6.7
.2

137.6
144.6
139.0
145.1
Govt. purchases of goods and services, total __do____ 145. 9
Federal
do
72.3
60 8
73 5
64 7
71.5
State and local
__
do
72.4
76.8
72.7
74.3
73.1
r
Revised.
*> Preliminary,
f Revised series. Estimates of national income and product
and personal income have been revised back to 1969 (see p. 16 fl. of the July 1972 SURVEY);




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

1.9

2.0

2.9

1.9

2.7

-.7

.1

~1.8

143.9
142.4
142.6
138.6
137.6
141.1 142.2
137.5
136.1 135.7
137.3
69 0
64 8
62 8
63 7
608
62 9
62 3
62 1
60 2
61 0
59 7
79.4
80.3
73.5
78.8
81.8
73.8
74.6
7&7
75.1
75*9
76! 0
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-i • • '

SURVEY OF CURRENT 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

1970

1971
II

I

Annual total

December 1972
1971

I

IV

III

II

1972
III

I

IV

II

1973
III

IV

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

834.5

851.4

860.8

876. 2

903.1

922.1

566.0

603.8

644.1

594.3

600.7

609.0

611.2

628.6

639.6

648.0

660.4

682.7

697.8

710.2

509.7
Wages and salaries, total _ _ _ _ _ _ _ _ do_
405.6
Private
_
do
19.0
Military
do
85.1
Government civilian
do.
56.3
Supplements to wages and salaries _
do
67.2
Proprietors' income, total 9
do
50.5
Business and professional 9
- - - _.do_ __
Farm
_ _ d o _ 16.7
22. 6
Rental income of persons
do

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

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
107.0
73.0
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

79.8

69.9

78.6

69.3

71.5

72.0

66.9

76.6

80.1

78.3

79.4

81.8

86.1

89.6

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

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

10.1
20.7

7.6
20.1

8.2
22.9

8.0
19.1

7.4
20.1

7.8
20.3

7.2
20. 9

7.8
21.2

8.8
23. 7

8.5
22.6

7.6
23.9

7.8
22.0

8.8
22.8

9.6
23.8

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

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

91.6
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

750.9
116.5
634.4
596.2
38.2

806.3
116.7
689. 5
634.7
54.9

861.4
117.0
744.4
683.4
60.9

785.7
117.8
667.9
621.6
46.3

806.1
119.0
68712
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

75.56
31.68
15.96
15.72

79.71
31.95
15.80
16.15

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

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

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

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
.58
.48
.50
.32
3.63
3.19
.44
2.72
4.55

14.38 ' 14. 12 r 16. 11
'.59
.61
'.67
'.38
.48
'.47
-.61
.73
'.69
'.35
'.35
.39
4.24 '4.39
'4.85
'3.67 '4.07
3.61
'.72
.62
'.78
2.84
2.95
4.98 '4.97 ••29.08

Compensation of employees, totalf

_

do.

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 intertdt
do _
DISPOSITION OF PERSONAL INCOME f
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
bil. $
Less* Personal tax and nontax payments
do
Eouals* Disposable personal income
do~
Less* Personal outlays©
_ _ _
do
Eouals* Personal saving§
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
4.11 industries
-bil. $ _
Manufacturing
-.
do
Durable goods industries U
.
do
Nondurable goods industries ^
do

943.0

125.30 i 21. 55
7.72
' 9. 19
3.94
'4.65
3.79
'4.54
13.83
.64
.43
.54
.32
4.16
* 3.63
.53

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 f

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 ' 87. 67 '192.36 i 96. 66
35.11
30.37 ' 30. 98 '32.96
' 15. 67 '16.44
17.98
14.77
17.14
15.60 '15.31 ' 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 ' 56. 70
2.38 ' 2. 40
'1.50
1.88
2.89 '2.67
'1.41
1.53
16. 60 ' 17. 01
14.32 '14.62
2.27 '2.38
11.56
11.59
19.88 ' 20. 16

15,748 '17,745 '17,307 Pl8,377
9,564 11, 791 11, 445 Pl2,307

Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
_.,
Communication
Commercial and other

U.S. BALANCE OF INTERNATIONAL
PAYMENTSd*
Quarterly Data Are Seasonally Adjusted
(Credits 4-; 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 con1,512
tracts
mil $
Receipts of income on U.S. investments
abroad
..mil. $. 10, 539
7,034
Other services
.
do___
Merchandise, adjusted, excl. military
do___
D irect def en se expenditures _.
do
Payments of income on foreign investments in the
U.S
—
mil. $.
Other services
do__

62,870
41, 963

66, 133
42, 770

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

1,478

1,922

273

441

329

436

510

516

474

423

3,015
2, 165

3,651
2,110

11,426
8,004

12,898
8,543

2,936
1,935

2,779
1,977

2,850
2,057

2,937
2,116

3,297
2,152

-53, 591 -59,307 -65,406 -14,477 -14, 795 -14 943 -15, 093 -15, 444 -16, 639 -17,042 -16, 285
-35, 796 -39, 799 -45,459 -9, 731 -9, 831 -9, 968 -10, 269 -10, 728 -11, 722 -11, 951 -11, 058
-4, 856 -4, 852 -4, 816 -1, 180 -1, 259 -1, 210 -1, 203 -1, 175 -1, 214 -1, 198 -1, 230
-4,564 -5, 167 -4, 903 -1, 344 -1,322 -1, 284 -1, 217 -1, 139 -1, 106 -1, 304 -1, 356
-8,376 -9, 491 -10, 227 -2, 222 -2, 383 -2,481 -2,404 -2,402 -2, 597 -2, 589 -2,641

967
898
3,563
727
1,911
Balance on goods and services total
do
734
2,164 -2,689
500
621
Merchandise, adjusted, excl! military
do. . .
' Revised..
p Preliminary.
* Estimates (con'•ected fc>r system atic bias*is) for O<3t.~
.
Dec. 1972 and Jan.-Mar. 1973 based on expected capital expenditures of business. Expected
expenditures for the year 1972 appear on p. 19 of the Dec. 1972 SURVEY.
2 Includes communication,
f See corresponding note on p. 8-1. 9 Includes inventory valuation
adjustment.
© Personal outlays comprise personal consumption expenditures, interest




2,863
2, 035

'281

61.54
2.66
1.96
2.14
1.50
19.48
16. 25
3.23

'233.30 233.80

P250

3,249 ' 3, 187
2,371 '2,394

'59.40
'2.61
'1.70
'2.57
'1.28
' 17. 94
' 14. 89
'3.05

27.73

p3,421
p2, 399

334

'-18, 93 —18,90 P—19,27
-13,478 -13,39 p— 13,89
-1,218 -1,239 p—1,080

..... "III.—

-1,387 —1,417 p— 1,497
p— 2,801

-537 -1, 188 —1,601 P— 896
91
1,136
36
712
989
-472 -1,494 '-1,687 —1,948 P—1,58
289 -1,012
193
737
§P ersonal saving is
paid by cons umers, a nd perso nal tran.sfer payrnents to foreigner s.
excess of disposable income over personal outlays.
lIData for individual durable and nondurable goods industries components appear in the
Mar., June, Sept., and Dec. issues of the SURVEY.
c^More complete details appear in the
quarterly reviews in the Mar., June, Sept., and Dec. issues of the SURVEY.

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