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SURVEY OF CURRENT BUSINESS

August 1973

11

NATIONAL INCOME AND PRODUCT TABLES
1972
1971

1972

I

II

1973
III

IV

I

1972

II

1971

1972

I

II

Seasonally adjusted at annual rates

1973
III

IV

I

II

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)
Gross national product

,055.5 1,155.2 1,112.5 1,142. 4 1,166.5 1,199.2 1,242.5 1,272.0

Nonresidential
Structures...^
Producers' durable equipmentResidential structures .
Nonfarm
Farm
Change in business inventories.
Nonfarm
Farm

785.6

796.7

812.3

829.3

834.3

719.2

734.1

752.6

779.4

795.6

496.3

526.8

512.5

523.4

531.0

540.5

552.7

553.3

117.4
299.9
309.2

111.5
288.8
300.0

115.1
297.9
306.2

120.2
302.3
311.6

122.9
310.7
319.0

132.2
322.2
325.0

132.8
330.3
332.6

92.2
211.6
192.4

104.0
220.9
201.8

99.2
215.0
198.2

101.9
220.7
200.8

105.8
222.2
202.9

109.2
225.8
205.4

116.2
228.0
209.1

153.2

178.3

167.5

174.7

181.5

189.4

194.5

198.2

110.3

122.9

116.5

121.0

124.8

129.1

117.0
228.8
207.0
130.2

172.3

165.8

169.2

172.9

181.2

189.9

193.7

105.0

118.3

115.4

116.7

118.2

122.8

126.9

126.9

104.4
37.9
66.5

118.2
41.7
76.5

114.0
41.0
73.1

116.3
41.5
74.9

118.3
41.3
77.0

124.3
43.0
81.2

130.9
45.3
85.5

134.1
47.2
86.9

76.1
22.5
53.6

83.7
23.0
60.8

81.5
23.0
58.4

82.5
23.0
59.5

83.4
22.7
60.7

87.5
23.1
64.3

91.2
23.8
67.4

91.5
24.4
67.2

54.0
53.5

51.8
51.2

52.8
52.3

54.5
53.9

56.9
56.4
.5

59.0
58.4

59.6
59.1
.5

29.0
28.6
.4

34.6
34.2
.4

34.0
33.6
.4

34.2
33.9
.4

34.7
34.3
.4

35.3
35.0
.3

35.6
35.3
.4

35.3
35.0
.3

6.1
4.5
1.6

Fixed investment

768.0

700.2

42.7
42.2

Gross private domestic investment.

790.7

726.5

147.1

Durable goods
Nondurable goods.
Services

745.4

667.2
103.6
278.7
284.9

Personal consumption expenditures..

6.0
5.6
.4

1.7
1.4
.4

5.5
4.8
.7

8.7
8.4
.3

8.2
7.9
.3

4.6
4.4
.2

4.5
4.4
.1

5.3
3.8
1.4

4.6
4.5
.1

1.1
1.0
.1

4.3
4.0
.3

.0

6.3
6.2
.1

3.3
3.2
.1

3.4
3.3
.1

130.2

-4.6

-5.5

-5.7

-3.8

-3.5

.0

2.8

.4

-2.0

-3.7

-2.8

-.9

2.0

5.6

66.3
65.5

73.5
78.1

70.3
75.8

69.9
75.6

74.0
77.7

79.7
83.2

89.7
89.7

97.2
94.4

52.7
52.4

56.4

55.4
59.1

54.1
56.8

56.6
57.5

59.6
60.3

65.3
63.3

66.6
61.1

234.3

255.0

250.3

254.2

254.7

260.7

268.6

275.3

138.4

142.7

144.0

141.8

143.5

144.4

145.2

98.1
71.6
26.5

104.4
74.4
30.1

106.0
76.5
29.5

106.7
76.6
30.1

102.3
71.9
30.4

102.7
72.4
30.3

105.5
74.3
31.2

107.3
74.2
33.1

60.9

63.0

62.9

58.8

58.6

58.2

58.2

136.2

150.5

144.3

147.5

152.4

158.0

163.0

168.0

77.5

79.7

81.1

83.0

85.0

,6.2

87.0

Net exports of goods and services
Exports
Imports
Government purchases of goods and services
Federal.
National defense..
Other
State and local.

58.4
143.0
60.8
82.2

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
Gross national product _

1,055.5 1,155.2 1,112.5 1,142. 4 1,166.5 1,199.2 1,242.5 1,272.0

745.4

790.7

768.0

785.6

796.7

812.3

829.3

834.3

Final sales
Change in business inventories.
Goods output.

1, 049. 4 1,149.1 1,110. 8 1,136. 9 1,157. 8 1,191.0 1, 237. 8 1, 267. 5
6.1
8.2
6.0
1.7
5.5
4.6
4.5
8.7
497.1 541.4
536.4
516.9
548.6
589.6
563.6
604.2

740.1
5.3

786.1
4.6

766.9
1.1

781.3
4.3

790.0
6.6

806.0
6.3

826.0
3.3

831.0
3.4

396.1

423.9

407.3

421.5

428.4

438.4

452.1

453.9

555.4
8.2
233.2
222.8
10.4

585.0
4.6

599.6
4.5

390.8
5.3

419.3
4.6

406.2
1.1

417.2
4.3

421.7
6.6

432.1
6.3

448.7
3.3

450.5
3.4

214.6
211.4
3.2

539.9
8.7
222.6
216.8
5.8

242.5
238.1
4.4

249.7
242.4
7.3

163.0
161.3
1.7

184.1
180.2
3.9

173.5
173.2
.3

180.4
177.7
2.7

186.2
181.8
4.4

196.3
188.0
8.2

203.4
200.3
3.2

207.1
201.8
5.4

311.0
309.7
1.3

321.9
319.6
2.3

326.0
323.1
2.9

330.3
332.5
—2.2

347.2
346.9
.3

354.5
357.3
-2.8

233.1
229.5
3.6

239.8
239.1
.7

233.8
233.0
.8

241.1
239.5
1.6

242.2
240.0
2.2

242.1
244.1
—1.9

248.7
248.5
.2

246.7
248.7
-2.0

471.8
123.8

481.5
124.4

491.8
126.2

503.9
131.7

514.8
138.1

527.7
140.1

280.1
69.1

292.6
74.2

286.8
73.9

290.3
73.8

294.5
73.8

298.8
75.1

300.6
76.7

304.1
76.3

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

491.1
6.1

535.4
6.0

515.2
1.7

531.0
5.5

193.1
191.1
2.0

219.1
214.1
4.9

205.9
205.5
.4

Nondurable goods
Final sales
Change in business inventories .

304.0
299.9
4.1

322.3
321.2
1.1

447.4
110.9

487.3
126.5

Services
Structures.

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..
Federal
State and local

1,055.5 1,155.2 1,112.5 1,142.4 1,166.5 1,199.2 1,242.5 1,272.0
S30.3 1,019.7

980.3 1,008. 6 1,030.0 1,060.0 1,098.9 1,126.2

889.9
859.4
30.4

975.4
941.0
34.4

937.8
904.8
33.0

965.2
931.3
33.9

33.5
7.0

36.8
7.5

35.5
7.0

36.6
6.8

37.5
7.6

125.1
47.6
77.6

135.4
50.3
85.1

132.2
50.5
81.7

133.8
50.0
83.8

136.5
50.2
86.4

984.9 1, 013. 6 1, 050. 5 1,075.6
976.9 1, 008. 9 1,032.3
951.0
33.9
36.7
41.6
43.3
37.8
8.7
139.2
50.5
88.7

745.4

790.7

768.0

785.6

796.7

812.3

829.3

834.3

684.7

729.5

707.3

725.0

735.3

750.3

767.1

772.0

662.2
636.3
26.0

706.6
682.0
24.6

684.7
659.2
25.6

702.6
677.4
25.2

712.3
688.7
23.6

726.8
702.5
24.2

742.9
718.1
24.8

747.5
726.1
22.4

39.3
9.1

40.5
10.1

16.8
5.6

17.4
5.5

17.2
5.4

17.4
5.0

17.5
5.5

17.4
6.2

18.0
6.3

18.2
6.3

143.5
52.5
91.1

145.8
52.2
93.6

60.7
23.0
37.6

61.1
21.8
39.3

60.7
22.1
38.6

60.6
21.7
38.9

61.3
21.7
39.7

62.0
21.7
40.3

62.2
21.6
40.6

62.4
21.4
41.0

HISTORICAL STATISTICS

THE 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 District Offices or the Superintendent of Documents; see addresses inside
front cover). Each July SURVEY contains preliminary data for the latest 2 years and fully revised data for the preceding 2. The July 1973
issue has data for 1969-72. Prior July issues have fully revised data as follows: 1968-69, July 1972; 1967-68, July 1971; 1966-67, July 1970;
1965-66, July 1969; 1964-65, July 1968. BE A will provide on request a reprint of the fully revised data for the years 1964-69.



CURRENT BUSINESS STATISTICS

J.HE STATISTICS here update series published in the 1971 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
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.
OF CURRENT BUSINESS.

1970
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes a r e a s shown in
the 1971 edition of BUSINESS STATISTICS

1971

1972

1970
II

Annual total

III

1971
IV

I

II

1972
III

IV

I

II

1973

| III

I

IV

|

II

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf

Gross national product, totalt

bil.$.

977.1

1,055.5

1,155.2

970.6

987.4

991.8

Personal consumption expenditures, total..do

617.6

667.2

726.5

614.0

623.7

628.3

650.0

662.2

673.0

683.4

700.2

719.2

734.1

752.6

779.4 ' 795.6

Durable goods, total9
do
Automobiles and parts
do
Furniture and household equipment...do
Nondurable goods, total?
do
Clothing and shoes
do
Food and beverages
do
Gasoline and oil
do
Services, totalQ
do.
Household operation
do.
Housing
do.
Transportation
do.
Gross private domestic investment, total...do..
Fixed investment
do
Nonresidential
do
Structures
do
Producers' durable equipment
do
Residential structures
do
Nonfarm
do
Change in business inventories
do
Nonfarm
do
Net exports of goods and services
do..
Exports
do.
Imports
do.
Govt. purchases of goods and services, total. do
Federal
do
National defense
do
State and local
do

91.3
37.3
39.6

103.6
46.6
42.1

117.4
52.8
48.1

92.8
39.3
39.4

93.4
39.1
39.6

88.1
33.1
40.3

100.3
44.7
41.3

101.9
45.5
41.6

105.4
48.3
41.9

106.7
47.8
43.6

111.5
49.4
46.6

115.1
51.2
47.3

120.2
55.0
48.6

122.9
55.7
50.0

132.2
60.5
53.7

263.8
52.8
130.0
22.2

278.7
57.0
136.6
23.5

299.9
62.3
145.3
25.5

261.2
52.5
128.5
22.1

265.7
52.7
131.5
22.3

271.1
54.5
133.3
22.7

273.5
55.7
134.1
22.9

278.0
57.0
136.2
23.1

279.8
57.4
137.6
23.6

283.5
58.1
138.4
24.5

59.4
141.0
24.7

297.9
61.7
144.7
25.0

302.3
62.9
146.5
25.8

310.7
65.1
149.1
26.6

322.2 r 330.3
68.3
'69.3
154.7 ' 158. 1
27.5
'28.8

262.6
36.4
90.9
18.3

284.9
39.7
98.5
20.4

309.2
43.8
105.5
21.8

259.9
35.9
90.2
18.0

264.6
36.9
91.4
18.5

269.1
37.3
93.3

276.1
38.4
95.4
19.4

282.3
39.3
97.6
20.1

287.8
40.3
99.5
20.6

293.2
40.7
101.4
21 2

300.0
41.8
103.1
21.6

306.2
43.2
104.7
21.7

311.6
44.5
106.3
21.8

319.0
45.7
107.9
22.2

136.3

153.2

325.0 r332.6
46.5
r47.1
110.6 ' 113. 3
22.8
23.2

178.3

135.4

139.2

131.7
100.6
36.1
64.4
31.2
30.7
4.5
4.3

147.1
104.4
37.9
66.5
42.7
42.2
6.1
4.5

172.3
118.2
41.7
76.5
54.0
53.5
6.0
5.6

130.5
101.0
36.1
64.9
29.5
29.2
4.9
4.7

133.2
102.8
36.4
66.5
30.4
29.9
6.0
5.8

62.9
59.3

66.3
65.5

-4.6
73.5
78.1

3.9
63.1
59.2

4.2
63.9
59.7

132.3
98.5
36.5
62.0
33.8
33.1
5.1
4.9
2.8
63.2
60.4

219.5
96.2
74.6
123.3

234.3
98.1
71.6
136.2

255.0
104.4
74.4
150.5

217.3
95.8
74.0
121.5

220.3
94.7
73.2
125.6

223.3
94.8
72.6
128.5

972.6
466.7
182.5
284.1
410.3
'95.6

1,049.4
491.1
191.1
299.9
447.4
110.9

1,149.1
535.4
214.1
321.2
487.3
126.5

965.7
466.8
184.9
281.9
405.8
93.2

981.3
472.1
186.2
285.9
413.5
95.7

986.7
465.9
175.0
290.9
421.0
99.8

4.5
1.2
3.3

6.1
2.0
4.1

6.0
4.9
1.1

4.9
.2
4.6

6.0
5.2

5.1
-1.1
6.2

By major type of product:!
Final sales, total
Goods, total
Durable goods
Nondurable goods
Services
Structures..
Change in business inventories
Durable goods
Nondurable goods

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

18.9
137.4

1,027.2 1,046.9 1,063.5 1,084.2 1,112.5 1,142.4 1,166.5 1,199.2 1,242.5 '1,272.0

145.5

152.7

153.8

160.8

167.5

174.7

181.5

189.4

138.5
101.4
37.0
64.4
37.1
36.6
7.0
5.8

145.0
103.6
37.6
66.0
41.5
41.0
7.6

149.5
104.7
38.4
66.3
44.8
44.1
4.3
2.4

155.6
108.0
38.5
69.5
47.5
46.9
5.3
3.5

165.8
114.0
41.0
73.1
51.8
51.2
1.7
1.4

169.2
116.3
41.5
74.9
52.8
52.3
5.5
4.8

172.9
118.3
41.3
77.0
54.5
53.9
8.7
8.4

181.2
124.3
43.0
81.2
56.9
56.4
8.2
7.9

3.8
65.9
62.1

.5
67.1
66.fr

1.1
69.1
68.0

-2.2
63.0
65.2

-5.5
70.3
75.8

-5.7
69.9
75.6

-3.8
74.0
77.7

227.9
96.1
72.3
131.8

231.5
96.7
71.3
134.8

235.5
98.2
70.3
137.3

242.2
101.2
72.4
141.0

250.3
106.0
76.5
144.3

254.2
106.7
76.6
147.5

254.7
102.3
71.9
152.4

194.5

r 198.2

-3.5
79.7
83.2

189.9
130.9
45.3
85.5
59.0
58.4
4.6
4.4
.0
89.7
89.7

r 193. 7
' 134. 1
47.2
'86.9
'59.6
'59.1
'4.5
'4.4
'2.8
'97.2
'94.4

260.7
102.7
72.4
158.0

105.5
74.3
163.0

' 275.3
' 107.3
' 74.2
' 168.0

1,237.8
585.0
238.1
346.9
514.8
138.1

•1,267.5
r 599. 6
' 242.4
' 357.3
' 527. 7
' 140.1

1,020.2 1,039.2 1,059.2 1,078.9 1,110.8 1,136.9 1,157.8 1,191.0
531.0
539.9
555.4
482.1
485.9
501.1
515.2
495.2
211.4
216.8
222.8
187.4
196.2
205.5
188.1
192.8
319.6
323.1
332.5
294.7
304.9
309.7
297.8
302.4
481.5
491.8
503.9
433.9
471.8
450.8 460.9
444.0
124.4
126.2
131.7
104.1
117.0
123.8
113.2
109.3
7.0
4.1
2.9

7.6
4.2
3.4

4.3
.7
3.7

5.3
-.9
6.2

1.7
.4
1.3

5.5
3.2
2.3

8.7
5.8
2.9

' 132.8
'59.7
'54.4

4.6
'4.5
4.4
'7.3
.3 ' - 2 . 8

8.2
10.4
-2.2

GNP in constant (1958) dollarsf

Gross national product, totalt
bil.$..
Personal consumption expenditures, total..do
Durable goods
Nondurable goods
Services

do..
do..
do.

Gross private domestic investment, total...do.
Fixed investment
do..
Nonresidential
do..
Residential structures
do..
Change in business inventories
do..
Net exports of goods and services
do
Govt. purchases of goods and services, total, do...
Federal
do...
State and local
do...

722.5

745.4

790.7

722.1

727.2

719.3

735.1

740.4

746.9

759.0

768.0

785.6

796.7

812.3

829.3 ' 834.3

477.5

496.3

526.8

477.5

480.9

477.5

489.5

493.6

498.0

504.1

512.5

523.4

531.0

540.5

552.7 ' 553.3

206.5
187.2

92.2
211.6
192.4

104.0
220.9
201.8

85.8
205.1
186.5

85.6
207.2
188.1

79.3
209.8
188.4

210.1
189.9

90.2
211.8
191.7

211.5
192.9

95.8
213.0
195.3

99.2
215.0
198.2

101.9
220.7
200.8

105.8
222.2
202.9

109.2
225.8
205.4

117.0 ' 116.2
228.8 '228.0
207.0 ' 209.1

103.4

110.3

122.9

103.5

105.4

102.1

106.6

110.3

109.5

114.8

116.5

121.0

124.8

129.1

130.2

99.5
77.2
22.2
3.9

105.0
76.1
29.0
5.3

118.3
83.7
34.6
4.6

99.1
78.3
20.8
4.4

100.5
78.6
21.8
4.9

97.6
73.5
24.1
4.5

100.7
74.8
25.9
5.8

103.8
75.5
28.3
6.5

105.5
75.6
29.9
4.0

110.1
78.4
31.7
4.7

115.4
81.5
34.0
1.1

116.7
82.5
34.2
4.3

118.2
83.4
34.7

122.8
87.5
35.3
6.3

126.9 ' 126. 9
91.2
'91.5
35.6
35.3
3.3
'3.4

2.3

.4

-2.0

2.1

3.0

2.0

2.4

-1.6

-3.7

-2.8
141.8
58.8
83.0

143.5
58.6
85.0

144.4
58.2
86.2

138.4
143.0
139.3
139.1
138.0
60.8
60.9
64.5
64.3
62.4
82.2
74.6
77.5
'75.0
75.5
r
Revised.
» Preliminary.
t Revised series. Estimates of national income and product and personal income have been revised back to 1969 (see p. 14fif.of the July 1973 SURVEY);
revisions prior to May 1972 for personal income appear on pp. 27-28 of the July 1973 SURVEY.


517-658 O - 73
http://fraser.stlouisfed.org/ - S-l
Federal Reserve Bank of St. Louis

136.7
136.7
138.6
141.6
137.8
60.1
59.9
61.1
62.5
61.8
76.6
77.5
79.1
76.0
76.8
9 Includes data not shown separately.

142.7
63.0
79.7

144.0
62.9
81.1

2.0

S-l

' 130. 2

'5.6
' 145. 2
'53.2
'87.0

OF CUKEENT

S-2
Unless otherwise stated i n footnotes b e l o w , data
through 1970 a n d descriptive n o t e s a r e a s s h o w n in
t h e 1971 edition of B U S I N E S S S T A T I S T I C S

1970

1971

|

1970

1972

1971

I

IV

III

A n n u a l total

August 1973
1972

III

II

IV

I

II

1973

III

I

IV

II

III

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL I N C O M E AND

PRODUCT—Con.

Quarterly Data Seasonally Adjusted at Annual Rates
National income totalf
- bil. $

800.5

859.4

941.8

809.3

806.3

835.9

853.6

865.6

882.7

911.0

928.3

949.2

978.6

,015.0

Compensation of employees, totalf

..do....

603.9

644.1

707.1

610.1

610.6

627.6

638.8

648.8

661.2

684.3

699.6

713.1

731.2

757.4

774.9

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—.

542 0
426 9
19 6
95.5
61.9
66.9
50.0
16.9
23.9

573.8
449.7
19.4
104.7
70.3
68.7
51.9
16.8
24.5

627.3
493.3
20.3
113.8
79.7
74.2
54.0
20.2
24.1

547 1
431 0
19.4
96.7
62.9
66.2
50.2
16.0
24.2

546.7
429.2
19.0
98.5
63.9
66.2
50.0
16.2
24.4

559.8
438.5
19.8
101.6
67.7
67.9
50.9
16.9
24.4

569.3
446.3
19.3
103.6
69.6
68.3
51.7
16.6
24.7

577.6
452.3
18.9
106.3
71.1
68.6
52.3
16.3
24.7

588.6
461.7
19.6
107.3
72.6
70.2
52.7
17.5
24.4

607.3
476.4
20.9
110.0
77.0
72.5
53.1
19.5
24.1

620.8
488.4
20.1
112.3
78.9
73.2
53.3
19.9
22.6

632.5
497.5
20.0
115.1
80.5
74.1
54.3
19.8
24.9

648.7
510.9
20.1
117.7
82.5
77.1
55.3
21.8
24.9

666.7
525.1
20.9
120.7
90.8
80.6
56.3
24.3
24.7

682.3
538.7
20.5
123.1
'92.6
81.5
57.1
24.4
24.6

69.2

80.1

91.1

71.3

65.9

75.8

80.5

80.9

83.4

86.2

88.0

91.5

98.8

104.3

J>109. 0

13.6
55.6
27 8
17 3
10.5

15.2
64.9
32 5
17 8
14.7

17.5
73.6
40.1
20.0
20.2

14.0
57.3
29.1
17.8
11.4

14.2
51.7
23.7
17.5
6.3

14.0
61.8
31.8
17.6
14.2

14.7
65.8
32.7
17.8
14.9

15.9
65.0
31.8
18.0
13.8

16.3
67.1
33.6
17.9
15.7

16.6
69.6
37.3
18.6
18.7

17.3
70.7
38.7
18.5
20.2

17.6
73.9
39.9
20.4
19.5

18.6
80.2
44.7
22.4
22.3

19 8
84.5
49 7
22 8
26.9

78
20.1

8.6
23.9

9.3
24.2

7.9
20.2

7.3
20.7

8.2
21.8

9.1
23.9

9.1
24.1

7.9
25.7

8.5
23.8

8.9
23.1

9.8
24.1

9.9
25.7

92
25.6

74.0
34.8
39 3
24.7
14.6
-4.8
36 5

85.1
37.4
47.6
25.1
22.5
-4.9
42.0

98.0
42.7
55.4
26.0
29.3
-6.9
45.2

75.7
35.7
39.9
24.7
15.2
-4.4
37.5

69.8
33.0
36.7
24.5
12.2
-3.8
39.2

80.8
37.0
43.8
25.3
18.5
-5.0
40.2

85.5
38.4
47.1
25.1
22.0
-5.0
41.4

87.0
38.0
49.0
25.2
23.7
-6.1
42.7

86.9
36.4
50.6
24.9
25.7
-3.6
43.5

92.8
40.6
52.2
25.7
26.5
-6.6
43.9

94.8
41.4
53.4
25.9
27.5
-6.7
44.8

98.4
42.9
55.6
26.2
29.4
-6.9
45.7

106.1
45.9
60.3
26.4
33.9
-7.3
46.6

808 3
116 6
691.7
635.5
56.2

863.5
117.5
746.0
685.8
60.2

939.2
142.2
797.0
747.2
49.7

816.8
114.3
702.4
641.7
60.8

822.9
115.7
707.2
646.6
60.6

840.0
112.6
727.4
668.3
59.2

859.5
115.5
744.0
680.6
63.5

870.2
118.1
752.0
691.8
60.2

884.4
124.0
760.4
702. 6
57.8

910.8
138.0
772.8
720.0
52.9

926.1
140.7
785.4
739.5
45.9

943.7
142.8
800.9
755.1
45.8

976.1
147.4
828.7
774.3
54.4

996 6
145 1
851 5
801 5
50.0

79.71
31.95
15.80
16.15

81.21
29.99
14.15
15.84

88.44
31.35
15.64
15.72

20.26
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

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

57.09
2.42
1.80
2.46
1.46
17.00
14.48
2.52
11.89
20.07

12.27
.46

12.99
.50

10.99
.49

13.06
.54

12.83

14.35

12.77

14.38

14.12

15.83

.46
.74

.43
.76

.34
.34

.47
.60

.30
3.58
2.79

.33
3.74
3.12

.28
3.11
2.70

.36
3.83
3 20

.55
.42
.39
.37

.59
.45
56
.37
4.29
3.60
.69
2.84
5.26

.58
.48
.50
.32

.61
.48
.73
.39

.63
.47
.63
.40

3.63
3.19
.44
2.72
4.55

4.24
3.61
.62
2.95
4.98

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

21 50 i 24. 93 i 25.32
9.43
9.28
7 80
4.83
4.78
3 92
4.60
4.50
3.88
15.89
15.65
13.69
.71
.68
63

4.74
4.01
.73
3.39
5.57

Corporate profits and inventory valuation adjustment total
bil. $..
By broad industry groups:
..do....
Financial institutions
.
do
Nonfinancial corporations total
.. do .
Manufacturing total
...do—.
Nondurable goods industries
do
Durable poods industries
Transportation, communication, and public
utilities
bil. $
...do....
All other industries
do
Coroorate Drofits 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
DISPOSITION OF PERSONAL INCOME f
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
bil $
do
Less* Personal tax and nontax payments
do
Equals* Disposable personal income
do
Less* Personal outlays©
do
Equals' Personal saving§
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
bil. $
...do-...
Manufacturing
do
Durable goods industries f
do
Nondurable goods industries 1
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
Manufactiirincr
NondiiralDlft c^oods industries IF
NoTiTnfl.nnfa.ctnriiicr
Mining
Air transDortation
Public ntilitips
Electric
Gas and other
Communication
Commercial and other

do
do
do
.- do.
. ..-do.-..
—do...
do
do
do
do

2.56
4.16

2.81
4.42

2.50
3.94

2.81
4.44

4.07
3.35
.71
2.62
4.42

do
do
do
do

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

do
do
do
do
do
do
do
do
do
do

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

52.82
2.30
1.64
2 26
1.33

56.70
2.42
2.10
1.96
1.48

56.75

56.70

2.23
1.72
1.68
1.48

2.38
1.88
2.89
1.53

2.40
1.50
2.67
1.41

58.30
2.46
1.71
2.33
1.42

15.87
13.56
2.30
10.73
17.85

15.74
13.01
2.74
10.44
19.10

16.92
14.27
2.65
11.71
20.10

16.60
14.32
2.27
11.59
19.88

17.01
14.62
2.38
11.56
20.16

17.53
14.67
2.86
12.63
20.21

18,49
12,36

19,92
13,21

26

.63

.41

.63

U.S. BALANCE OF INTERNATI ONAL
PAYMENTSd*
Quarterly Data Are Seasonally Adju rtcd
(Credits +; debits - )
Exports of goods and services (excl. transftjrs under
mil. $
military grants)
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—

62,91
41,96

66,28
42,76

73,46
48,76

15,97
10,70

15,80
10,45

16,48
10,87

16,78
10,79

17,28
11,52

15,73
9,58

17,58
11,65

1,47

1,91

1,16

34

42

49

50

48

41

32

11,42
8,05

12,89
8,71

13,92
9,60

2,86
2,06

2,85
2,06

... do
Imports of goods and services
Merchandise, adjusted, excl. military... .—do—
Direct defense expenditures
do
Payments of income on foreign investments in the
U.S .
mil. $
Other services
.—do—

-59,28
-39,78
-4,85
-5,16
-9,68

-65,48
-45,46
-4,82
-4,92
-10,25

-78,07
-55,68
-4,72

-14,92
-9,96
-1,21
-1,28
-2,47

-15,09
-10,26
-1,20
-1,21
-2,41

-6,06
-11,60

704
1.04
-4,60
80
3,63
— .do—
Balance on goods and services, total
-6,91
-2,69
2,17
18
Merchandise, adjusted, excl. military . . _—do—
74
r
Revised.
r> Preliminary.
i Estimates (corrected for systematic biases) for Apr.June and July-Sept. 1973 based on expected capital expenditures of business. Expected
2
expenditures for the year 1973 appear on p. 11 of the June 1973 SURVEY.
Includes communication,
f See corresponding note on p. S-l.
9 Includes inventory valuation adjust
ment.
© Personal outlays comprise personal consumption expenditures, interest paid by



3,31
3,03
2,98
2,23
2,12
2,16
-15,53 -16,650 -17,00
-10,74 -11,708 -11,90
—1,20
-1,17 -1,214
-1,29
-1,13
-1,16
-2,59
-2,45
-2,59

17,463
11,53
28

P21.3

?87. 7

119.6 P130. 1
52.7 P 5 7 . 5
66 9 v 72.6
26 9
45.2
40 0
-15.4 - 2 1 . 1
49.4
47 9

46
52

.32
3.95
3 45

28

.78

, 039. 4

50

2 87
4 94

1,019.0
r 149. 3
r 869. 7
r 818. 7
'51.0

.46
.68

.50
.46
.40

.42
4.75
4.00

5.24
4.36

2 8.66

2 8.57

.74

.88

96 19 i 98. 57 1101.80
38.01
35 51 37.05
19.68
17 88 19.14
18.34
17.91
17.63
63.79
61.52
60.68
2.90
2.68
2.59
2.05
1.75
2.11
2.03
2.58
2.21
1.61
1.58
1.53
20.18
18.68
18.38
17.22
15.92
15.40
9 Qfi
2.98
12. 34
2 34. 25 2 35. 03
21.53

p 22,42
P34

3,55
2,18

3,31
2,29

3,27
2,36

3,47
2,39

3,86
2,55

*>4,10

-16,29
-11,10
-1,23

-18,96
-13,47
—1,22

-18,88
-13,31
—1,24

-19,43
-13,93o
—1,108

-20,79
-14,95

P-22,43

-1,34
-2,61

-1,42
-2,84

-1,47
-2,85

-1,52
-2,86

lie

P

v 1fiQft

i jfi

-1,63 v -1,85
-3,04 p—3,12
V
-87
*-96
-1,74

P706
-1,42
-93
28
13
-1,3"
95
-56
P-294
-38
-1,57
-1,77
12
-1,52
-1,82
-91
consumers, and personal transfer payments to foreigners.
§ Personal saving is excess of disposable income over personal outlays.
.
HData for individual durable and nondurable goods industries components appear in tae
Mar., June, Sept., and Dec. issues of the SURVEY.
d"More complete details appear in ino
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