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SURVEY OF CUEKENT BUSINESS January 1948 S-l Monthly Business Statistics The data here are a continuation of the statistics published in the 1942 Supplement to the SURVEY OF CURRENT BUSINESS. That volume contains monthly data for the years 1938 to 1941, and monthly averages for earlier years back to 1913 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1938. Series added or revised since publication of the 1942 Supplement are indicated by an asterisk (*) and a dagger (f), respectively, the accompanying footnote indicating where historical data and a descriptive note may be found. The terms "unadjusted" and "adjusted" used to designate index numbers refer to adjustment of monthly figures for seasonal variation. Data subsequent to November for selected series will be found in the Weekly Supplement to the Survey. Unless otherwise stated, statistics through 1941 and descriptive notes may be found in the 1942 Supplement to the Survey 1947 1946 November December January February March April May June July August September November October GENERAL BUSINESS INDICATORS NATIONAL INCOME AND PRODUCT * Seasonally adjusted quarterly totals at annual rates: National income bil. of doL Compensation of employees do Wages and salaries do_ _Private _ _ _ ._ __do_ __ Military . do_ _ Government civilian do Supplements to wages and salaries _ do_ _ Proprietors' and rental income do Business and professional _ _ _ do _ _ Farm do Rental income of persons _ . _ do_ _ Corporate profits and inventory valuation adjustment bil of dol Corporate profits before tax do. _ Corporate profits tax liability do_ _ Corporate profits after tax _ do Inventory valuation adjustment do Net interest _ do_ _. 191.0 122.2 117.1 98.0 5.6 13.5 5.1 46.7 22.0 17.8 7.0 119.4 101.5 4.6 13.3 5.4 47.0 22.4 17.6 7.0 200.1 126 3 120.9 103.5 4.1 13 2 5.5 47 2 21.9 18 0 7. 2 203.3 129 7 124.7 107.3 3.9 13 4 5.0 47 3 22 1 17 9 7 3 18.8 27.1 11.0 16.1 -8.3 3.2 22.4 29.0 11.6 17.4 -6.6 3.3 23 3 27 4 10.8 16 6 4 1 3.3 22 9 27 4 10.8 16 6 4 5 34 Gross national product do Personal consumption expenditures . do_ _ Durable goods do Nondurable goods . do_ _ Services do Gross private domestic investment do_ ... New construction do Producers' durable equipment do Change in business inventories _ do Net foreign investment do Government purchases of goods and services bil. of dol Federal (less Government sales) do State and local do 218.6 154.9 18.2 93.6 43.1 30.4 9.3 15.7 5.4 5.2 223.1 158.0 18.5 95.3 44.2 29.4 10.3 16 5 2.7 83 229 1 162 0 19 2 97 8 45 0 29 1 96 18 0 15 10 5 232 3 166 0 19 9 100 0 46 1 30 4 10 4 18 0 2o 7 7 28.2 16.9 11.2 27.4 16 0 11 4 27 5 15 6 11 9 28 2 15 8 12 5 Personal income do. . Less: Personal tax and nontax payments. __do Equals: Disposable personal income do_ . Personal savings § _ . do PERSONAL INCOME* Seasonally adjusted, at annual rates: Total personal income bil. of dol "Wage and salary receipts, total do_ _ Total employer disbursements do_ _ Commodity-producing industries do. : _ . Distributive industries do Service industries __ do Government _ _ _ . do Less employee contributions for social insurance bil. of dol_. Other labor income do _ Proprietors' and rental income _ _ _ . do Personal interest income and dividends- _do Total transfer payments do_ 187.5 19.5 168.0 13.1 190.9 21.2 169.7 11.7 192 3 21.4 170 9 89 200 4 21 7 178 7 12 7 Total nonagricultural income. . do NEW PLANT AND EQUIPMENT EXPENDITURES* All industries, total mil. of aol__ Electric and gas utilities do Manufacturing and mining __ do. . Railroad do Commercial and miscellaneous do FARM INCOME AND MARKETINGS Cash farm income, total, including Government payments* . mil. of dol From marketings and C. C. C. loans* _ _ do. Crops* do Livestock and products* do. Dairy products* do Meat animals* do Poultrv and eggs* do 197.6 r 124. 7 188.4 115.4 117.2 50,. 6 33.0 14.4 19.2 189.9 117.0 118.8 52.3 33.5 14.4 18.6 190.3 117.1 119.2 53.1 33.5 14.6 18.0 190.7 117.5 119.6 53.2 33.7 14.6 18.1 191.8 137.5 119.6 53.7 33 7 14.6 17.6 190 2 116 7 118 9 53.2 33 4 14 8 17 5 191 5 118.3 120.4 54.1 34 2 14 9 17 2 195 1 121 1 123 2 65.5 35 3 15 2 17 2 196 1 121 2 123 3 55.1 35 5 15 4 17 3 194 9 122 5 124 6 56.2 35 7 15 3 17 4 210 9 124 5 126 6 57.5 36 4 15 2 17 5 1.8 1.6 47.6 13.5 10.3 1.8 1.6 47.2 13.7 10.4 2.1 1.6 46.6 13.9 11.1 2.1 1.7 46.8 14.0 10.7 2.1 1.7 47 7 14.0 10.9 2.2 17 46 9 14.0 10 9 2.1 18 46 9 14.0 10 5 2.1 18 47 6 14! 1 10 5 2.1 18 47 8 14.2 11 1 2.1 18 45 9 14.3 10 4 2.1 18 48 4 15.0 21 2 165.6 167.3 168.2 168.5 168 8 167 8 169 2 172 3 173 1 188 1 3,730 360 1,920 180 1,280 2,999 2,986 1,450 1,536 315 933 274 2,438 2,420 999 1,421 317 829 266 3,160 330 1,600 160 1,080 2,284 2,248 918 1,330 330 807 187 1,897 1,853 707 1,146 292 667 181 2 076 2,010 692 1 318 345 743 224 171 9 3,940 450 2 010 220 1,260 1 974 1 914 594 1 320 345 726 236 2 026 1 989 621 1 368 379 705 2fil 2 211 2 185 743 1 44° 392 782 234 r 204 4 r 125 2 r J27 2 "58.1 r 36 4 15 1 17 6 "2.0 •I r Q CQ g 14.9o n r 1 SO 1 204 9 127 5 129 4 59.6 37 0 15 2 17 6 1.9 19 49 9 15.1 10 5 1R1 fi 4 070 510 2? 010 290 1 250 2 662 2 657 1 205 1 452 382 785 251 2 517 2 505 1 187 1 318 353 711 929 q nfin 3 049 1 3 770 r q 7KQ 4Q7 1 552 3 HQA r 1 fi*37 OOJ. 958 94/1 1 O*}Q OAO ocn :ome are published in the Department of Commerce. For source and a brief description'of the series on plant and equipment expenditures, see note marked "*"' on p. S-2 of the lieFrtember*1947 Survey; third quarter of 1947 estimates are based on anticipated capital expenditures of business. Revisions for January 1945-May 1946 for farm income are available on request: see note in SeDtember 1947 SUTVPV y regarding earlier data. 771806°—48 3