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BUSINESS STATISTICS
THE DATA here are a continuation of the statistics published in the 1947 Statistical Supplement to the SURVEY OF CURRENT BUSINESS.
That volume contains monthly data for the years 1941 to 1946, and monthly averages for earlier years back to 1935 insofar as available; it also
provides a description of each series and references to sources of monthly figures prior to 1941. Series added or revised since publication of the
1947 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 February for selected series will be found in the Weekly Supplement to the Survey.
Unless otherwise stated, statistics through
1946 and descriptive notes may he found in
the 1947 Supplement to the Survey

1949

1948

February

March

April

May

June

July

August

September

October

November

December

January

February

GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCTf
Seasonally adjusted quarterly totals at annual rates:
National income, total _ _ _
bil. ofdol__
Compensation of employees, total...
do
Wages and salaries, total
_ do _
Private
do
Military
__
do
Government civilian..
_do_ __
Supplements to wages and salaries
do
Proprietors' and rental income, total
do
Business and professional
do
Farm
_
_ do_ __
Rental income of persons
do
Corporate profits and inventory valuation adjustment, total _ _ _
_bil. ofdoLCorporate profits before tax, total.. _ do
Corporate profits tax liability
_ do __
Corporate profits after tax
do. __
Inventory valuation adjustment
__do
Net interest
do

213.9
134.0
129.1
111 4
3.4
14.2
4.9
49.9
24 8
17.6
7.5

222.3
136.3
131.3
113 2
3.5
14.6
5.0
51'. 6
25 3
18.9
7.4

228.2
142.4
137.4
118 2
3.5
15.6
5.1
50.6
25 2
18 1
7.4

233.2
144.7
139.6
119 6
3.7
16.2
5.1
51.4
25 6
18.4
7.4

25.3
30.5
11 8
18.7
53
4.7

29.6
32.1
12.5
19.6
2.5
4.8

30.2
34.0
13 3
20.8
39
5.0

— 4
5 2

Gro^s national product, total
do
Personal consumption expenditures,total 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,
total
bil. of dol.
Federal (less Government sales)
do
State a n d local
_ _ _ _ _ do_ _

244 9
172.5
21 3
101. 4
49.8
38.0
14.3
19 8
39
3.9

251.9
177.3
22.8
103.7
50.8
38.0
14.4
21 0
2.6
2.7

258 1
180. 1
23 7
104 3
52.1
40.2
14.8
21 9
35
—.3

9R4. Q

30 5
16 7
13 7

33.9
""9 1
14.8

38.2
22 7
15 5

41 5
25 2
16 3

Personal income, total
Less' Personal tax and nontax payments
Equals* Disposable personal income
Personal savings§

207.0
23.0
183.9
11.4

210.8
20.6
190.2
12.9

216.3
20.0
196.2
16.1

do
do
do
do

181 0

99 Q

105 1
53 0
42 8
14 7
22 7
53

_ _ __

4

219
20
199
18

6
2
4
4

PERSONAL INCOME BY SOURCEf
Seasonally adjusted, at annual rates:
Total personal income
_ _ bil.
Wage and salary receipts, total
Employer disbursements, total
Commodity-producing industries
Distributive industries
Service industries.
Government

of dol
do
do
do
do
do
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
Total nonagricultural income

-

do

206.4
126.8
128.8
57.8
37.8
15.6
17.6

205.7
126.6
128.7
57.7
37.6
15.6
17.8

208.6
126.8
128.8
57.3
37.8
15.9
17.8

209.2
129.0
131.0
58.5
38.6
15.9
18.0

214.4
131.4
133.6
60.4
38.8
16.1
18.3

214.8
133.4
135.6
60.9
39.5
16.4
18.8

216.7
135. 9
138.0
62.3
40.0
16.5
19.2

217.3
136.7
138.9
63.0
40.0
16.4
19.5

218.5
137.5
139.6
63.0
40.2
16.6
19.8

219.9
138.0
140.1
63.8
39.7
16.6
20.0

221.0
137.7
139.9
63.6
39.8
16.6
19.9

2.0
2.0
49.6
16.6
11.4

2.1
1.9
48.4
16.6
12.2

2.0
2.0
51.2
16.7
11.9

2.0
2.0
50.4
16.8
11.0

2.2
2.0
53.0
16.8
11.1

2.2
2.1
51.7
17.0
11.1

2.1
2.1
50.3
17.3
11.1

2.2
2.1
50.4
17.5
10.6

2.1
2.1
50.7
17.8
10.4

2.1
2.1
51.4
18.1
10.3

52.1
18.4
10.7

184.3

185.1

185.3

186.6

189.7

191.3

193.8

195.0

195.6

196.3

197.4

2.2
2.1

r

219. 5
' 136. 3
r
138. 6
r
62.1
r
39.9
r
!6. 6
20.0
r

2.3
2.1

217.0
135.1
137. 3
61.4
39.5
16.5
19.9
2.2
2.1

51.4
18.6
11.1

49.6
18.7
11.5

195 7

194.8

NEW PLANT AND EQUIPMENT EXPENDITURES
All industries total
mil of dol
Electric and gas utilities
do
Manufacturing
do
Mining
do
Railroad
do
Other transportation
do
Commercial and miscellaneous
do
r
Revised.
§ Personal savings is excess of disposable income over personal
T Revised series. Estimates of national income, gross national

830718°




4,170
SCO
1,800
180
270
180
1,240

4,820
640
2, 140
200
310
190
1,340

4,830
690
2,090
200
r
320
170
1,360

'5r 410
850
r
2, 320
r
220
M10

r
170
' 1, 440

consumption expenditures shown as a component of gross national product above.
product, and personal income have been revised beginning 1944; see pp. 27-29 of the July 1948 Survey for the revised figures.

s-i

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