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SURVEY OF CURBENT BUSINESS

12

November 1972

NATIONAL INCOME AND PRODUCT TABLES
1972

1971
1970

1971

II

III

IV

I

II

1971
III

1970

II

1971

III

1972

I

IV

II

III

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)
Gross national product

722.1

741.7

737 9

742.5

754.5

766.5

783.9

796.1

616.8

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
.5

42.6
42 0
.6

41.4
40 9
.5

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

22.3
22 0
4

29.1
28 7
.4

28 3
28 0
4

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

4.9
4.8
1

3.6
2.4
12

6.6
5.1
15

1.3
-.2
16

1.7
.8
9

.4
.1
3

5.0
4.3
.7

80
79
1

41
40

26
16
1i

53
4 0
13

.7
—.6
1.3

.7
—.1
.8

.3
-.1
.3

3.9
3.4
.5

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

Personal consumption expenditures ..
Durable goods
Nondurable goods
Services..
Gross private domestic investment
Fixed investment _ .
Nonresidential
Structures
Producers' durable equipment
Residential structures
Nonfarm Farm
Change in business inventories .
Nonfarm
Farm

o

3.6

Federal
National defense
Other
State and local

.4

—2.1

-4.6

-5.2

—3 4

22

1

— 7

.1

—1.8

-3.3

-2.8

-.7

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

135.7

137.6

141.1

142.2

143.9

142.6

97.8
71 4
26.3

96.3
71 2
25 0

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
30 2

64 7

60 8

59 7

61.0

62.3

62.8

63.7

60.8

122.5

Government purchases of goods and services

.1

66.1
65.4

96.5
75 1
21.5

Exports
Imports. .

.7

62.9
59.3

Net exports of goods and services. .

135.0

133.3

135.7

140.2

143.7

146 0

150 2

74 3

76 8

76 0

76.7

78.8

79.4

80.3

81.8

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
976.4 1 050 4 I 043 0 1 056 9 1 078 11 109 11 139 4 1 164 0

Gross national product
Final sales
Change in business inventories

_ _

Goods output - -

722 1

741 7

737 9

742 5

754 5

766.5

783 9

796.

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 ' 3.6
1.3
50
6.6
1.7
80
471 9
495 5 492 4
497 5
504 8
517 6
537 1 550 4

718 0
41

739 1
26

732 6
5.3

741 7
.7

753 8
.7

766.3
.3

780 0
3.9

789.
6.

385 8

393 8

391 0

394 5

400 4

407.0

420 7

428.

399.7
.7

406.8
.3

416.7
3.9

422.
6.

Final sales
_
Change in business inventories

467.0
4.9

491 8
36

485 8
66

496 2
13

503 1
17

Durable goods
Final sales.
Change in business inventories

184 9
183 0
1.9

195 7
194 6
1.1

194 5
191 0
3.6

196 7
197 7
—1.0

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

287 0
284 0
3.0

299 8
297 3
25

297 9
294 8
31

409 2

443 9

95 4

111 0

Services
Structures

_ _

517 2
4

532 1
50

542 4
80

381 7
41

391 2
26

385 7
53

393 7
7

198 2
200 1
—1 9

209 2
208*8
4

217 6
214 6
3.0

226 1
220 7
54

160 0
158 6
14

164 5
163 8
6

162 8
160 0
2.8

164 9
166.0
—1.1

167.4
169.5
—2.1

175.0
174.8
.3

181.4
179.1
2.3

187.
183.
4.

300 8
298 5
23

306 6
303 0
35

308 4
308 4

o

319 6
317.5
2.1

324 3
321 7
26

225 8
223 2
26

229 4
227 3
20

228 3
225 7
2 6

229 5
227.7
1.9

233.0
230.2
2.8

232.0
232.0
.0

239.2
237.6
1.6

240.
238.
2.

441 1

446 7

456 3

467 3

477 3

487 3

272 5

278 4

278.2

278.4

282.3

285.2

289.3

293.

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.

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

722 1

741 7

737 9

742 5

754 5

766.5

783.9

796.1

861.8

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

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 8
947 8
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

711.1
688.7
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

46

69

74

62

85

68

6.9

72

4 0

56

60

50

68

5.4

5.2

5.3

114.7

124 8

123 7

125 5

127 9

132 5

134 4

137 4

60 7

60 7

60 5

60.8

60.8

60.9

60.9

61.6

976 4 1 050 4 1 043 0 1 056 9 1 078 11 109 11 139 4 1 164 0

.

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 SUKVEY 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.




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

1 1970 1 1971

III

Annual total

1

1970

IV

I

II

1971
III

IV

I

II

1972
III

IV

I

II | III

Seasonally adjusted quarterly totals at annual rates

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

930.3

976.4 1,050.4

941.7

948.9

958.0

971.7

Personal consumption expenditures, total

do.

579.5

616.8

664.9

583.7

594.4

604.1

613.4

623.0

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

do..
do_
do_.

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

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

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

34.0
85.0
16.8

251.9
35.1
87.2
17.1

256.1
35.3
88.7
17.7

do

139.0

137.1

152.0

143.8

137.9

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

131.1
98.5
34.2
64.3
32.6
32.0
7.8
7.7

132.2
100.9
36.0

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

do_.
__do_.
do_.

1.9
55.5
53.6

62.9
59.3

.7
66.1
65.4

2.6
58.1
55.5

2.7
59.2
56.5

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
122.5

232.8
97.8
71.4
135.0

211.6
99.3
79.4
112.3

do.
do.
do
do_
do_
do_

922.5
449.7
182.3
267.4
377.9
94.9

971.5 1,046.7
467.0
491.8
183.0
194.6
284.0 297.3
409.2
443.9
95.4
111.0

do_
do..
do..

7.8
5.0
2.8

Gross national product, totalf

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

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

B

„. > of product:!
Mnal sales, total
Goods, total
Durable goods
Nondurable goods
Services
Structures
Change in business inventories
Durable goods
Nondurable goods

64.9

4.9
1.9
3.0

1.1
2.5

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

1,109.1 1,139.4 1,164.0

648.0

660.4

670.7

680.5

696.1

713.4

' 728.6

87.5
33.0
39.6

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

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

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
'26.4

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

137.7

139.9

153.0

152.2

158.8

168.1

177.0

' 183.2

131.4
101.7
36.1
65.6
29.7
29.4
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.
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

167.7
116.1
41.3
74.8
51.
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
'64.4
' 53.7
'8.0
'7.9

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

.4
68.5
68.2

-2.1
63.0
65.1

-4.6
70.7
75.3

—5.2
70.0
75.2

'74.4
'77.8

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

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
r
105.4
'75.1
' 150.2

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 1,055.6 1,076.4 1,108.6 1,134.4 1,156.0
465.6
482.2
485.8 496.2 503.1 517.2
532.1
542.4
174.8
189.6
191.0
214.6
197.7 200.1
208.8
220.7
292.6 294.8 298.5 303.0 308.4 317.5
290.7
321.7
418.7
441.1 446.7
431.3
456.3 467.3 477.3
487.3
99.8
105.0
109.5
117.0
125.0
112.7
124.2
126.3

10.6
6.5
4.1

5.5
3.7
1.9

1.5
1.0
.5

6.3
1.6
4.7

6.2
6.0
.2

6.3

5.7
-.9
6.6

4.9
3.7
1.2

71.2
133.3

6.6
3.6
3.1

1.3
-1.0
2.3

1.7
-1.9
3.5

-3.4

5.0
3.0
2.1

.4
.4
.0

'8.0
'5.4

GNP in constant (1958) dollarsf
bil. $._

Gross national product, totalf
Personal consumption expenditures, total
Durable goods
Nondurable goods
Services

.

Gross private domestic investment, total

725.6

722.1

741.7

729.2

725.1

720.4

723.2

726.8

718.0

731.9

737.9

742.5

754.5

766.5

783.9

796.1

do

469.1

477.0

495.4

469.5

472.2

474.1

476.9

480.2

476.5

488.2

493.0

497.4

503.2

511.0

520.9

528.7

do..
do_
do.

85.6
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

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
214.7
197.7

100.7
220.1
200.0

104.5
221.9
202.3

do

110.5

104.0

108.6

114.0

do
do
do
do

103.8
80.1
23.7
6.7

77.6
22.3
4.1

105.9
76.8
29.1
2.6

104.6
80.9
23.7
9.4

.2

2.2

.1

.7

102.0

105.6

106.2

102.2

105.0

110.0

107.3

112.0

116.6

122.0

125.5

102.8
80.9
21.9
4.6

101.0
78.8
22.2

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

2.0

2.9

1.9

2.7

-.7

.1

145.9
139.0
137.6
Govt. purchases of goods and services, total. _do
145.1
144.6
73.5
Federal
_
_
do
64.7
60.8
72.3
71.5
72.4
State and local.
do
74.3
76.8
72.7
73.1
' Revised.
» Preliminary.
fRevised series. Estimates of national income and product
and personal income have been revised back to 1969 (see p. 16 ff. of the July 1972 SURVEY);

142.4
69.0
73.5

138.6
64.8
73.8

137.5
62.9
74.6

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

do..

-1.8

' -.7

137.3
136.1 135.7
141.1
143.9 ' 142.6
137.6
142.2
62.1
60.2
61.0
62.8
63.7
59.7
62.3
60.8
75.1
75.9
76.0
78.8
79.4
80.3
76.7
81.8
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-1
487-759 O - SI




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 | 1971

1970

1969
IV

Annual total

November 1972

I

II

1971
III

IV

I

II

1972
III

I

IV

II

III

IV

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

do

Wages and salaries, total
__do
Private
do
Military
do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' income total 9
- do_ __
Business and professional 9 -do
Farm
- do
Rental income of persons
- 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 interest
-do
DISPOSITION OF PERSONAL INCOME f
Quarterly Data Seasonally Adjusted at Annual Rates
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:
\\\ industries
- --bil. $..
Manufacturing
do
Durable goods industries ^
do
Nondurable goods industries ^
-do
Nonmanuf acturing
Mining
.
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other

.

Commercial and other

do

Seas. adj. qtrly. totals at annual rates:
All industries
Durable goods industries ^
Nondurable goods industries ^

798.6

855.7

781.0

787.5

796.7

806.3

804.1

834.5

851.4

860.8

876.2

903.1

603.8

644.1

585.2

594.3

600.7

609.0

611.2

628.6

639.6

648.0

660.4

682.7

697.8 r 710 2

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

526.8
418.6
19.6
88.5
58.4
67.2
49.8
17.4
22.9

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 r 630 6
487.1 r 494 g
20.5 r 20 4
112 4 r H5 4
77.8 r 79 6
73.2
75 3
54.4
56 2
18.7
19 1
24.2
26 2

79.8

69.9

78.6

73.5

69.3

71.5

72.0

66.9

76.6

80.1

78.3

79.4

81.8

86.1

»89. 7

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

12.4
61.1
32.8
17.1
15.7

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

P 18 3
P71.4

10.1
20.7

7.6
20.1

8.2
22.9

9.3
19.0

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

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

80.5
38.4
42.1
24.7
17.4
-7.1
32.3

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

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

774.3
118.2
656.1
611.6
44.6

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

T
922 1 r 939 9
141 i
139 5
782 6 T 798 8
732 5 r r743 o
50 8
50 1

75.56
31.68
15 96
15 72

79.71
31.95
15.80
16.15

81.21
29.99
14.15
15.84

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
8
4
4

79
44
12
32

19 38
6 61
3 on
3 32

22 01
7 63
3 71
3 92

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

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

14 38
.61
.48
.73
.39
4.24
3.61
.62
2.95
4.98

14 41
.60
.43
.58
.37
4.50
3.62
.84

15 89
.65
.43
.70
.30
4.96
4.11
.85

2 7.92

28.86

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
30.09
15.06
15.02

87.12
30.37
14.77
15.60

ISO. 38 191.84
33.22
32.62
16.58
16.22
16.65
16.40

45.46
1.85
1.94
2.80
1.63
11.80
9.36
2.44

47.79
1.84
1..88
2.88
1.12
12.72
10.15
2.57
1 A 00

49.73
1.86
1.96
3.24
1.22
13.84
11.34
2.50

47.66
1.94
1.56
3.08
1.22
13.68
11.20
2.48

48.86
2.04
1.46
1.29
1.33
14.64
12.16
2.48

51.50
2.08
1.88
2.28
1 40
14.91
12.61
2.30

51.56
2.23
1.72
1.68
1.48
15.87
13.56
2.30

O1

10 73

16.67

45.78
1.92
1.74
2.94
1.37
12.14
9.77
2.37
9. 14
16.52

16.98

17.00

15. 97

17. 39

17.72

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

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 17, 763 17, 347
9,584 »• 11,791 ' 11,445 »12, 272

do
do
do

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

do
do
do
do
__do _
do
..do _.
..do

766.0
566.0

do
do
do
do
do
do
_..do
do....

_

U.S. BALANCE OF INTERNATIONAL
PAYMENTScf
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
55, 502
military grants)
mil. $
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
T\/f
TH

h
/f<•
t A[ f

?. . I *lce^
d>uju&MJU, ea.c. .

-~
y --

,

1A 7fl

n

r

922.1 pQ43 i

62,870
41,963

66, 133
42, 770

14,800
9,871

15,375
10,231

1,478

1,922

336

273

441

329

436

510

516

474

423

334

2,936
1,935

2,863

2,850

2,937

3,297

3,015

3,651
211 o

3,249
2 371

122
8
4
4

56 i 25 16
15
9 27
00
4 69
4 58
15

57.76
2.46
1.71
2.57
1.49
17.36
14.60
2.75

58.61
2.52
1.56
2.59
1.10
18.36
15.03
3.32

232.19 232.49

322

2,779

P95.8
?42 0
^53 7
26 5
^27.2
—6 1
41.7

3,207
2 355

11, 426
8,004

12,898
8,543

2,775

9 1 A*?

-53 591 -59, 307 -65,406 -14, 129 -14, 477 -14, 795 -14,943 -15,093 -15, 444 -16, 639 -17, 042 -16, 285 -18, 937 -18,894
-35 796 -39, 799 -45, 459 -9, 381 -9, 731 -9, 831 -9, 968 -10, 269 -10, 728 -11, 722 -11, 951 -11, 058 '-13,478 '•-13,388 » -13,940
-4 856 -4, 852 -4, 816 -1,251 -1, 180 -1, 259 -1, 210 -1, 203 -1, 175 -1, 214 -1, 198 -1, 230 -1,218 -1, 232

Payments of income on foreign investments in the
356
U.S
mil. $.. -4, 564 -5, 167 -4, 903 -1, 315 -1, 344 -1, 322 -1, 284 -1, 217 -1, 139 -1, 106 -1, 304 -1, (\A.~\ -1, 387 -1,397
9 A(Y>
9 SQ7
9 ^RQ
9
9 Q'lO • 9 9J7e\
—8, 376 —9, 491 —10,227
Other services.
do
-537 r-1,188 r-1,561 p-1, 100
91
36
989
712
1,136
967
671
727
898
3 563
1 911
-472 -1,494 -1,673 -1,929
289 -1,012
734
737
193
490
2,164 -2,689
500
'621
Merchandise, ad lusted, excl. military
do
paid by consumers, and personal transfer payments to foreigners.
§ Personal saving is
•• Revised.
f Preliminary.
» Estimates (corrected for systematic biases) for Julyexcess of disposable income over personal outlays.
Sept, and Oct.-Dec. 1972 based on expected capital expenditures of business. Expected exIfData for individual durable and nondurable goods industries components appear in the
penditures for the year 1972 appear on p. 17 of the Sept. 1972 SURVEY.
«Includes comMar., June, Sept., and Dec. issues of the SURVEY.
d"More complete details appear in the
munication,
f See corresponding note on p. S-l.
9 Includes inventory valuation
quarterly reviews in the Mar., June, Sept., and 'Dec. issues of the SURVEY.
adjustment.
© Personal outlays comprise personal consumption expenditures, interest




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