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SUEVEY OF CUREENT BUSINESS

12

April 1973

NATIONAL INCOME AND PRODUCT TABLES
1972

1971
1971

1972

IV

I

II

1973

III

IV

1971
1971

1972

1972

IV

I

Seasonally adjusted at annual rates

1973

II

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)
1,050.4 1,151.8 1,078.1 1,109.1 1,139.4 1,164.0 1,194.9 1,235.5

Change in business inventories
Nonfarm .
Farm
Net exports of goods and services
Exports
Imports.. . .
Government purchases of goods and services
Federal
National defense.
Other

783.9

796.1

811.6

827.1

713.4

728.6

745.7

773.7

495.4

524.6

503.2

511.0

520.9

528.7

537.8

551.0

116.1
299.5
305.4

106.1
283.4
290.9

111.0
288.3
296.7

113.9
297.2
302.4

118.6
302.0
308.0

120.8
310.4
314.5

130.1
322.9
320.7

92.1
211.1
192.2

102.8
220.5
201.3

95.4
212.8
195.0

98.6
214.7
197.7

100.7
220 1
200 0

104.5
221.9
202.3

107.4
225.4
205.0

115.2
229.3
206.5

152.0
148.3
105.8
38.4
67.4

180.4
174.5

158.8
157.2

177.0
172.0

199.4
191.5

108.6
105.9

124.0
119.4

112.0
111.3

119.2
42.0
77.2

126.1
43.7
82.3

132.3
46.3
86.0

76.8
22.8
54.0

84.4
22.9
61.4

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

132.0
124.0
87.6
23.1
64.4

134.1
128.4

109.8
38.8
71.0

183.2
175.2
120.7
41.8
79.0

193.4
183.1

120.6
42.2
78.3
54.0
53.2
.7

47.3
46.7
.6

168.1
167.7
116.1
41.3
74.8
51.6
51.0
.6

52.8
52.1
.6

54.4
53.7
.8

57.0
56.1
.9

59.2
58.3
.9

29.1
28.7
.4

35.0
34.5
.5

32.1
31.7
.4

34.2
33.8
.4

34.4
34.0
.4

35.1
34.6
.5

36.4
5.8
.6

37.3
36.7
.6

5.9
5.6
.3

1.7
.8
.9

.4
.1
.3

5.0
4.3
.7

8.0
7.9
.1

10.3
10.1
.2

7.9
7.5
.3

2.6
1.6
1.1

4.6
4.3
.3

.7
—.1
.8

.3
-.1
.3

3.9
3.4
.5

6.2
6.2
.1

8.0
7.8
.2

5.7
5.5
.2

.7

Eesidential structures
Nonfarm
Farm

766.5

696.1

-4.2

-2.1

-4.6

-5.2

-3.4

-3.5

-4.4

.1

-1.9

-1.8

-3.3

-2.8

-.7

-.9

-1.0

66.1
65.4

Nonresidential
Structures..
Producers' durable equipment

754.5

680.5

3.6
2.4
1.2

Gross private domestic investment
Fixed investment . .

789.5

721.0

42.6
42.0
.6

Durable goods
Nondurable goods
Services

741.7

664.9
103.5
278.1
283.3

Gross national product
Personal consumption expenditures _

73.7

63.0
65.1

70.7
75.3

70.0
75.2

74.4
77.8

79.6
83.1

86.6
91.0

52.6
52.5

56.8
58.7

49.9
51.7

65.5
58.9

54.2
57.0

57.2
57.9

60.3
61.1

63.8
64.8

240.9

249.4

254.1

255.6

259.3

266.8

137.6

142.8

141.1

142.2

143.9

142.6

142*7

142.9

105.7
76.7
28.9

108.1
78.6
29.6

105.4
75.1
30.2

104.0
73.2
30.8

107 0
75 0
32.1

60.8

61 6

62.3

62.8

63.7

60.8

59.0

58.3

143.7

146.0

150.2

155.2

159.8

76.8

81.3

78.8

79.4

80.3

81.8

83.6

84.7

232.8

77.9
254.6

97.8
71.4
26.3
135.0

State and local

105.8
75.9
29.9

100.7
71.9
28.7

148.8

140.2

91.1
24.0
67.1

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 1,151.8 1,078.1 1,109.1 1,139.4 1,164.0 1,194.9 1,235.5

741.7

789.5

754.5

766.5

783.9

796.1

811.6

827.1

Final sales
Change in business inventoriesGoods output.

1, 046. 7 1,145.9 1, 076.4 1,108. 6 1,134. 4 1,156.0 1,184.6 1,227. 6
3.6
5.9
.4
1.7
5.0
8.0
10.3
7.9

739.1
2.6

784.9
4.6

753.8
.7

766.3
.3

780.0
3.9

789.8
6.2

803.6
8.0

821.3
5.7

589.6

393.8

423.7

400.4

407.0

420.7

428.7

438.3

452.1

419.1
4.6

399.7
.7

406.8
.3

416.7
3.9

422.5
6.2

446.4
5.7

495.5

542.6

504.8

517.6

537.1
532.1
5.0

550.4
542.4
8.0

554.8
10.3

581.8
7.9

391.2
2.6

565.1

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

491.8
3.6

536.6
5.9

503.1
1.7

517.2
.4

195.7
194.6
1.1

222.5
217.3
5.2

198.2
200.1
-1.9

209.2
208.8
.4

217.6
214.6
3.0

226.1
220.7
5.4

237.0
225.1
11.9

245.2
238.9
6.3

164.5
163.8
.6

185.5
181.6
4.0

167.4
169.5
—2.1

175.0
174.8
.3

181.4
179.1
2.3

187.9
183.8
4.1

430.3
8.0
197.8
188.6
9.2

Nondurable goods
Final sales
Change in business inventories-

299.8
297.3
2.5

320.1
319.3
.8

306.6
303.0
3.5

308.4
308.4
.0

319.6
317.5
2.1

324.3
321.7
2.6

328.1
329.7
-1.6

344.5
342.9
1.6

229.4
227.3
2.0

238.1
237.5
.6

233.0
230.2
2.8

232.0
232.0
.0

239.2
237.6
1.6

240.9
238.7
2.2

240.5
241.7
-1.2

247.0
245.9

Services..-

443.9

482.3

456.3

467.3

477.3

487.3

497.3

507.7

278.4

291.1

282.3

285.2

289.3

293.2

296.7

296.6

Structures-

111.0

127.0

117.0

124.2

125.0

126.3

132.5

138.2

69.5

74.7

71.8

74.3

74.0

74.1

76.5

78.4

205.1
200.5
4.6
1.1

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

1,050.4 1,151.8 1,078.1 1,109.1 1,139.4 1,164.0 1,194.9 1,235.5

741.7

789.5

754.5

766.5

783.9

796.1

811.6

681.0

728.1

693.7

705.6

723.0

734.5

749.4

827.1
764.3

658.5
633.0
25.5

704.8
681.5
23.4

669.8
644.8
25.0

682.9
659.2
23.8

700.1
676.4
23.8

710.8
688.4
22.4

725.5
701.9
23.6

741.4
717.4
24.0
18.6

925.6 1,015.7

950.2

976.6 1,005.0 1,026.6 1,054.7 1,090.2

884.7
853.9
30.9

970.6
937.1
33.4

906.6
874.5
32.1

933.7
901.8
31.9

960.8
928.2
32.6

33.9

37.8

35.1

36.0

37.3

38.6

39.4

40.8

16.9

17.9

17.1

17.4

17.7

18.2

18.2

6.9

7.3

8.5

6.8

6.9

7.6

7.8

6.1

5.6

5.5

6.8

5.4

5.2

5.6

5.7

4.3

62.1

62.7

124.8

136.1

127.9

132.5

134.4

980.4 1,007.4 1,043. 2
947.4 971.2 1,003.5
39.8
33.0
36.3

137.4

140.2

145.3

60.7

61.4

60.8

60.9

60.9

61.6

Preliminary.

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

X H E STATISTICS here update series published in
OF CURRENT BUSINESS. That volume (available from the

the 1971 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
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.
1970
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of BUSINESS STATISTICS

1971

1971

1970

1972
I

Annual total

II

III

IV

I

II

1972
III

IV

I

II

1973
III

IV

I*

Seasonally adjusted quarterly totals at annual rates

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

976.4 1,050.4 1,151.8

do___

616.8

664.9

Durable goods, tota!9
Automobiles and parts
Furniture and household equipment

do___
do__.
do._.

90.5
37.3
39.0

103.5
46.7
42.0

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

do___
do.__
do
do

264.4
52.0
132.1
22.2

Services, total 9
Household operation
Housing
Transportation

do..
do_.
do_.
do..

261.8
36.3
90.9

Gross national product, totalf
Personal consumption expenditures, total

Gross private domestic investment, total..
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..
do..
do..
do..
do..
do..
do..

Govt. purchases of goods and services, total..do
Federal
do
National defense
do
State and local
do
By major type of product:f
Final " is, total
~" " sales, total.
Goods, total
Durable goods
le
Nondurable goods
Services
S tructures
Change in business inventories
Durable goods
Nondurable goods

do
do.
do.
do
do
do
do

18.2
137.1
132.2
100.9
36.0
64.9
31.2
30.7
4.9
4.8
3. 6
62.9
59.3
219.0
96.5
75.1
122.5

958.0

971.7

986.3

989.7

721.0

604.1

613.4

623.0

626.5

91.6
39.2
38.8

92.6
39.4
38.8

87.5
33.0

278.1
56.9
136.4
23.5

116.1
52.8
47.6
299.5
62.0
144.7
25.2

90.2
37.8
38.7
257.8
51.1
128.0
21.8

262.4
51.8
131.2
22.0

266.3
51.7
133.9
22.3

283.3
39.5
99.2
19.9

305.4
43.3
107.2
21.7

256.1
35.3
88.7
17.7

259.4
35.9
90.1
18.0

264.1
36.9
91.4
18.5

1,023.4 1,043.0 1,056.9 1,078.1 1,109.1 1,139.4 1,164.0 1,194. 9 1,235.5
648.0

660.4

670.7

680.5

696.1

713.4

728.6

745.7

773.7

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

120.8
55.2
49.1

130.1
60.0
52.9

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
25.4

310.4
64.5
148.5
26.3

322.9
68.0
154.7
27.0

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

314.5
45.1
110.2
22.4

320.7
45.9
112.4
23.0

152.0

180.4

132.9

137.7

139.9

137.8

143.9

153.0

152.2

158.8

168.1

177.0

183.2

193.4

199.4

148.3
105.8
38.4
67.4
42.6
42.0
3.6
2.4

174.5
120.6
42.2
78.3
54.0
53.2
5.9
5.6

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

133.7
103.4
36.2
67.2
30.3
29.9

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

183.1
126.1
43.7
82.3
57.0
56.1
10.3
10.1

191.5
132.3
46.3
86.0
59.2
58.3
7.9
7.5

.7
66.1
65.4

-4.2
73.7
77.9

3.6
61.5
57.9

3.9

4.0

63.0
59.2

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

-3.5
79.6
83.1

-4.4
86.6
91.0

232.8
97.8
71.4
135.0

254.6
105.8
75.9
148.8

217.3
99.7
78.9
117.6

216.7
96.2
74 7
120.5

219.5 ! 222.6
95.2 j 95.0
73 R
72.9
124.3
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

259.3
104.0
73.2
155.2

107.0
75.0
159.8

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

1.5
1.0
.5

6.3
1.6
4.7

6.2
6.0

971.5 1,046.7 1,145. 9
491.8
467.0
536.6
183.0
194.6
217.3
! 284.0
297.3
319.3
j 409.2
443.9
482.3
95.4
127.0
111.0

6.3
6.2

6.2
6.1

984.1
465.6
174.8
290.7
418.7
99.8

1,018.5 1,036.4 1,055.6 1,076.4 1,108.6 1,134.4 1,156.0 1,184. 6 1, 227. 6
581.8
532.1
554.8
503.1
517.2
542.4
496.2
482.2
485.8
238.9
214.6
225.1
200.1
208.8
220.7
197.7
189.6
191.0
342.9
317.5
329.7
308.4
321.7
298.5 303.0
292.6
294.8
507.7
477.3
497.3
456.3
467.3
487.3
446.7
431.3
441.1
138.2
125.0
132.5
117.0
124.2
126.3
112.7
105.0
109.5

4.9
1.9
3.0

3.6
1.1
2.5

5.9
5.2

bil. $_

722.1

741.7

789.5

720.4

723.2

726.8

718.0

do

477.0

495.4

524.6

474.1

476.9

480.2

476.5

do
do
do

92.1
211.1
192.2
108.6

102.8
220. 5
201.3

83.8
204.4
185.9

84.7
206.0
186.2

84.9
207.7
187.6

78.9
209.9
187.8

do.

83.1
207.0
186.8
104.0

124.0

102.0

105.6

106.2

102.2

110.0

107.3

112.0

116.6

do
do
do
do

99.9
77.6
22.3
4.1

105.9
76.8
29.1
2.6

119. 4
84.4
35.0
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

2. 2

.1

1.9

2.0

2.9

1.9

2.7

n

.1

-1.8

-3.3

—2.8

-.7

-.9

-1.0

142.6
60.8
81.8

142. 7
59.0
83.6

142.9
58.3
84.7

do.
do..
do..

5.7
-.9
6.6

4.9
3.7
1.2

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

10.3
11.9
-1.6

7.9
6.3
1.6

GNP in constant (1958) dollarsf
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

do..

Govt. purchases of goods and services, total, .do
Federal
do
State and local
do

—1.9

137.6
142. 8
142.4
138.6
61.6
69.0
64.8
60.8
81.3
73.5
73.8
76.8
r
Revised.
* Preliminary.
f Revised series. Estimates of national income and product and personal income have been revised back to 1969 (see p. 16 ff. of July 1972 SURVEY);
revisions prior to May 1971 for personal income appear on pp. 25-26 of the July 1972
139. 0

64. 7
74. 3

210.0
189.3
105.0

737.9

742.5

754.5

766.5

783.9

796.1

811.6

827.1

493.0

731.9

497.4

503.2

511.0

520.9

528.7

537.8

551.0

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

107.4
225.4
205.0

115.2
229.3
206.5

122.0

125.5

132.0

134.1

118.0
83.6
34.4
3.9

119.3
84.2
35.1
6.2

124.0
87.6
36.4
8.0

128.4
91.1
37.3
5.7

137.6
137.5
136.1
137.3
135.7
60.2
61.0
62.9
62.1
59.7
75.9
74.6
76.7
76.0
75.1
9 Includes data not shown separately.

141.1
62.3
78.8

142.2
62.8
79.4

143.9
63.7
80.3

SURVEY.




S-l

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

1970

1971

|

1972

Annual total

1970

II

III

April 1973

1971

IV

I

II

1973

1972

III

IV

I

II

III

IV

I P

II

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

798.6

855.7

' 935. 6

796.7

806.3

804.1

834.5

860.8

876.2

903.1

922.1

943.0

• 974. 2

Compensation of employees, totalf

do

603.8

644.1

705.3

600.7

609.0

611.2

628.6

648.0

660.4

682.7

697.8

710.2

730.3

757.3

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

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

626.5
491.9
20.6
114.0
78.8
75.2
55.6
19.6
25.6

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

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

648.8
510.0
20.6
118.1
81.5
79.0
57.4
21.6
26.9

668.4
524.9
21.8
121.6

69.9

78.6

"88.2

71.5

72.0

76.6

80.1

78.3

79.4

81.8

86.1

89.6

'95.6

14.5
55.4
27.7
16.7
11.0

16.7
61.9
30.9
16.8
14.1

17.9
'70.3
37.9
19.0
' 18.9

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

19.3
'76.3
41.3
21.3
19.9

7.6
20.1

8.2
22.9

9.0
"23.4

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

22.8

9.6
23.8

9.9
25.1

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

94.3
41.3
'53.0
28.4
'26.6
—6.0
41.3

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

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

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

806.3
116.7
689.5
634.7
54.9

861.4
117.0
744.4
683.4
60.9

935.9
140.8
795.1
740.2
54.8

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

974.6
146.4

79.71
31.95
15.80
16.15

81.21
29.99
14.15
15.84

88.44
31.35
15.64
15.72

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

25.20
9.38
4.77
4.61

121. 56
7.90
3.91

47.76

51. 22
2.16
1.67
1.88
1.38
15.30
12.86
2.44
10.77
18.05

57.09
2 42
L80
2.46
1.46
17.00
14.48
2.52
11.89
20.07

12.18
.47
.47
.80
.31
3.28
2.59
.69
2.59
4.26

12.27

10.99

.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

14.12
.59
.38
,61
.35
4.39
3.67
.72
2.84
4.97

15.83

3.58
2.79
.78
2.56
4.16

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

4.74
4.01
.73
3.39
5.57

13.66
.61
.45
.54
.35
3.93
3.45
.48
2 7.77

do.
do.
do.
do.

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

91.94
33.64
16.86
16.78

i 96.74
35.98
17.88
18.10

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

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

58.30
2.46
1.71
2.33
1.42
17.53
14.67
2.86
12.63
20.21

60.75
2.54
2.08
2.12
1.66
18.36
15.43
2.93

73,546
48,840

15,762
10,565

15,932
10,705

15,805
10,462

16, 770 17,181
10, 805 11,527

v 1,166

441

329

436

16,434
10,872
510

15,767
9,583
423

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 t
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 1
do.
Nondurable goods industries H
do.
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication
Commercial and other
Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
Durable goods industries 1
Nondurable goods industries f
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.

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 contracts
.mil. $_.
Receipts of income on U.S. investments
abroad
mil. $..
Other services
do

1.89
1.78
3.03
1.23
13.14
10.65
2.49
10.10
16.59

.46
.46
.74
.30

.49
.34
.34

851.4

2.40
1.50
2.67
1.41
17.01
14.62
2.38
11.56
20.16

81.2
58.7
22.5
26.5

• 101. 5
'44.3
'57.2
26.7
'30. 5
—5.9 —13.3
43.4
42.5

765.5

.63
.47
.63
.40

993.9
143.0
850.9
793.9
56.9

2 33.?

U.S.

Imports 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

62,870
41,963
1,478
11,426
8,004
-59,307
-39, 799
-4,852
-5,167
-9,491

66,150
42, 787
1,922

334

281

18,471 p 20,014
12,380 p 13,240
251

P299

3,424 P 3,898
2,779
2,937 3,297 3,015
12, 898 13,792
2,850
3,266 3,205
2,863
3,651
2,165
2,152
1,977
2,116
2,057
2,367 2,389
8,543 p 9,749
2,035
2,110
2,416 p 2,577
-65,400 -77,765 -14,795 -14,943 -15,093 -15,443 -16,612 -17,005 -16,344 -18,929 -18,836 -19,335 p-20,670
-45,453 p-55,656 -9,831 -9,968 -10.26S -10,727 —11, 69f -11,914 -11,117 -13, 490 -13,338 -13,905 -14,923
- 4 , 816 -4,707 -1,259 -1,210 -1,203 -1,175 -1,214 -1,198 -1,230 -1,218 -1,239 -1,101 p-1,149
-5,891 - 1 , 322 -1,284 -1,217 -1,139 -1,106 - 1 , 304 -1,356 -1,387 -1,417 -1,503 p-1,587
-4,903
-10,227 p-11,513 -2,383 -2,481 -2,404 -2,402 -2,597
-2,641 -2,834 -2,842 - 2 , 826 p-3,013

989
967
Balance on goods and services, total
do
3,563
750 v —4,219
734
737
Merchandise, adjusted, excl. military
do
2,164 -2,666 * -6,816
r
Revised.
p Preliminary.
i Estimates (corrected for systematic biases) for Jan.Mar. and Apr.-June 1973 based on expected capital expenditures of business. Expected
2
expenditures for the year 1973 appear on p. 21 of the Mar. 1973 SURVEY.
Includes communication,
f See corresponding note on p. S-l.
9 Includes inventory valuation adjustment.
© Personal outlays comprise personal consumption expenditures, interest paid by




516

17, 626 17,436
11,659 11,561

712
992
158
176 -577 -1,303 -1,400 -864 p-656
145
-890 -387 1-1,534 -1,831 -1,777 -1,525 p-1,683
193
consumers, and personal transfer payments to foreigners.
§ Personal saving is excess of disposable income over personal outlays.
IIData for individual durable and nondurable goods industries components appear in the
Mar., June, Sept., and Dec. issues of the SURVEY.
cPMore 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