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Wlontki

* BUSINESS STATISTICS

I
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 April 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

1948

1947

April

May

June

July

November

August

December

January

February

March

April

GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT*
Seasonally adjusted quarterly totals at annual rates:
National income.
bil. of dol._
Compensation o f employees _ _ _ _ _ d o _ _
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
N e t interest
__ . _ _
_ » do

199.8
125.6
120.0
102.7
4.1
13.2
5.6
46.7
22.9
16.6
7.2

203.3
128.7
123.6
106.2
3.9
13.5
5.1
47.0
23.5
16.2
7.3

214.3
132.9
127 8
110.3
38
13.7
5.1
51.5
25 4
18 5
7.6

134.6
129 5
111.9
38
13 8
5.1
52 6
25 5
19 3
7.8

23.9
27.8
10.9
16.9
-3.8
3.5

23.9
28.2
11.1
17.1
—4.3
3.7

26 1
32 2
12 6
19 7
—6.1
38

—5.9
38

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

226.9
162.3
19.3
98.4
44.6
26.1
9.6
17.9
—1.4
10.4

229.4
165.8
20.2
99.9
45.7
27.0
10.4
18.4
—1.7
7.8

240.9
172 5
21 3
104 2
47 0
29 9
12 4
18 8
—1 3
8.2

244 3
173 2
20 7
104 3
48 2
36 0
13 1
18 8
4i
4 2

28.2
16.3
11.9

28.7
16.2
12.5

30 3
16 9
13 3

31 0
17 7
13 3

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

191. 4
21.2
170.1
7.8

189.6
21.6
177.9
12.1

Total nonagricultural income. .
do
NEW PLANT AND EQUIPMENT
EXPENDITURES*
All industries, total
mil. of dol.
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
Poultry and eggs*
_
.do




205
22
183
11

8
1
7
2

209 2
23 o
186 1
12 9

189.4
116.0
118.2
52.8

33.1
14.8
17.5

190.5
117.3
119.4
53.5
33.8
14.9
17.2

194.1
120.1
122.2
54.9
34.9
15.2
17.2

194.9
119.9
122.0
54.4
35.0
15.4
17.2

193.8
121.2
123.3
55.5
35.2
15.2
17.4

209 9
123.2
125.2
56.7
35.8
15.2
17.5

203 2
123 7
125.7
57 2
35.8
15 1
17 6

204 2
126 4
128.4
58 8
36.8
15 2
17 6

210 4
128*1
130.1
60 3
37.1
15 2
17 5

211 4
128 2
130.3
60 1
37.4
15 4
17 4

207 7
127.1
129.2
58.3
37.7
15.5
17.7

r 207 7
r 126 4
•• 128. 5
r 57 9
'37.4
15 5
r
17 7

209 1
125 8
127.9
57 4
37.1
15 6
17 8

2.2
1.7
46.5
14.3
10.9

2.1
1.8
46.5
14.4
10.5

2.1
1.8
47.1
14.6
10.5

2.1
1.8
47.4
14.7
11.1

2.1
1.8
45.5
14.9
10.4

2.0
1.8
48.1
15.6
21.2

2.0
19
50 4
15.4
11.8

2.0
19
49 9
15.5
10.5

2.0
1.9
54 0
15.6
10.8

2.1
19
54 5
15.' 7
11.1

2.1
1.9
51.6
15.8
11.3

2.1
18
51 5
16.0
r
!2.0

2.1
18
53 7
16.1
11.7

168.3

169.7

172.4

173.0

173.8

188.7

180 6

182 3

184 6

184 8

184.1

r 184 8

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
261

2,211
2,185
743
1,442
392
782
234

4,140
500
2,050
230
1,360

2,662
2,657
1 205
1,452
382
785
251

2,517
2,505
1 187
1,318
353
711
232

3,060
3,049
1 497
1,552
334
958
244

4,960
620
2 500
310
1,530

3,773
3,759
2 122
1,637
319
1 039
262

3,109
3,096
1 540
1,556
293
970
280

2,927
2,909
1 299
1,610
303
1 019
279

184 6

4 480
510
2 140
340
1.500

2,581
2, 555
1 044
1,511
329
968
206

1,866
1, 837
717
1, 120
318
593
201

2,001
1,961
698
1,263
373
645
237

2,096
2,047
670
1,377
392
720
250

lational product above.
>r 1929-46 for personal incom e are published in the
, for 25 cents; these series are compiled by the U. S.
March 1948 Survey; first quarter of 1948 estimates are
t; see note in September 1947 Survey regarding earlier
larly revised.

S-l

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