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SUEVEY OF CUREENT BUSINESS

14

October 1973

NATIONAL INCOME AND PRODUCT TABLES
1972

1971

1972

11

III

1972

1973

IV

I

II

IIIP

1971

1972

II

III

Seasonally adjusted at annual rates

1973

IV

I

II

III*

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 1,142.4 1,166.5 1,199.2 1,242.5 1,272.0 1,304.0

Fixed investment
Nonresidential.
Structures
Producers' durable equipment..
Residential structures.
Nonfarm
Farm
Change in business inventories.
Nonfarm
Farm

785.6

796.7

812.3

829.3

834.3

841.6

719.2

734.1

752.6

779.4

795.6

813.4

496.3

526.8

523.4

531.0

540.5

552.7

553.3

556.8

103.6
278.7
284.9
153.2

117.4
299.9
309. 2

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

132.1
340.8
340.5

92.2
211.6
192.4

104.0
220.9
201.8

101.9
220.7
200.8

105.8
222.2
202.9

109.2
225.8
205.4

117.0
228.8
207.0

116.2
228.0
209.1

114.9
230.0
211.9

178.3

174.7

181.5

189.4

194.5

198.2

206.7

110.3

122.9

121.0

124.8

129.1

130.2

130.2

134.0

172.3

169.2

172.9

181.2

189.9

193.7

198.0

105.0

118.3

116.7

118.2

122.8

126.9

126.9

128.1

104.4
37.9
66.5

118.2
41.7
76.5

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

138.7
50.0
88.8

76.1
22.5
53.6

83.7
23.0
60.8

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

93.6
25.5
68.1

54.0
53.5

52.8
52.3
.5

54.5
53.9

56.9
56.4
.5

59.0
58.4
.6

59.6
59.1
.5

59.3
58.7
.6

29.0
28.6
.4

34.6
34.2
.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

34.6
34.2
.4

6.1
4.5
1.6

Gross private domestic investment.

790.7

726.5

42.7
42.2
.6

Durable goods
Nondurable goods.
Services

745.4

667.2

147.1

Personal consumption expenditures..

6.0
5.6
.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

8.7
7.2
1.5

5.3
3.8
1.4

4.6
4.5
.1

4.3
4.0
.3

6.6
6.6
.0

6.3
6.2
.1

3.3
3.2
.1

3.4
3.3
.1

5.9
5.1
.8

-2.0

-2.8

-.9

2.0

5.6

5.4

56.4

54.1
56.8

56.6
57.5

59.6
60.3

65.3
63.3

66.6
61.1

66.1
60.7

144.0

141.8

143.5

144.4

145.2

145.4

62.9

58.8

58.6

58.2

58.2

57.3

81.1

83.0

85.0

86.2

87.0

Net exports of goods and services

-4.6

State and local.

-3.8

-3.5

2.8

4.0

.4

73.5
78.1

69.9
75.6

74.0
77.7

79.7
83.2

89.7
89.7

97.2
94.4

102.7
98.8

52.7
52.4

234.3

255.0

254.2

254.7

260.7

268.6

275.3

279.9

138.4

104.4
74.4
30.1

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

107.1
73.
33.5

60.9

136.2

Federal
National defense..
Other

-5.7

66.3
65.5

98.1
71.6
26.5

Exports
Imports
Government purchases of goods and services

150.5

147.5

152.4

158.0

163.0

168.0

172.8

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 1,142. 4 1,166.5 1,199.2 1,242.5 1,272.0 1,304.0

745.4

790.7

785.6

796.7

812.3

829.3

834.3

841.6

Final sales
_.
Change in business inventories.
Goods output.

1, 049. 4 1,149.1 1,136. 9 1,157. 8 1,191. 0 1, 237. 8 1, 267. 5 1, 295. 3
6.1
4.5
6.0
4.6
5.5
8.7
8.2
8.7
497.1 541.4
536.4 548.6 563.6 589.6
604.2
621.8

740.1
5.3

786.1
4.6

781.3
4.3

790.0
6.6

806.0
6.3

826.0
3.3

831.0
3.4

835.8
5.9

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

491.1
6.1

535.4
6.0

531.0
5.5

193.1
191.1
2.0

219.1
214.1
4.9

Nondurable goods
Final sales
Change in business inventories.

304.0
299.9
4.1
447.4
110.9

Services...
Structures.

396.1

423.9

421.5

428.4

438.4

452.1

453.9

457.2

390.8
5.3

419.3
4.6

All.2
4.3

421.7
6.6

432.1
6.3

448.7
3.3

450.5
3.4

451.4
5.9

249.7
242.4
7.3

613.1
8.7
252.7
244.3
8.4

163.0
161.3
1.7

184.1
180.2
3.9

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

207.3
201.3
6.0

Ml. 2
346.9
.3

354.5
357.3
-2.8

369.1
368.8
.4

233.1
229.5
3.6

239.8
239.1
.7

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

249.9
250.0
-.1

514.8
138.1

527.7
140.1

540.0
142.1

280.1
69.1

292.6
74.2

290.3
73.8

294.5
73.8

298.8
75.1

300.6
76.7

304.1
76.3

308.1
76.3

555.4
8.2
233.2
222.8
10.4

585.0
4.6

599.6
4.5

214.6
211.4
3.2

539.9
8.7
222.6
216.8
5.8

242.5
238.1
4.4

322.3
321.2
1.1

321.9
319.6
2.3

326.0
323.1
2.9

330.3
332.5
—2.2

487.3
126.5

481.5
124.4

491.8
126.2

503.9
131.7

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product
Private.
Business...
Nonfarm
Farm..

1,055.5 1,155.2 1,142.4 1,166.5 1,199.2 1,242.5 1,272.0 1,304.0
S30.3 1,019.7 1,008.6 1,030.0 1,060.0 1,098.9 1,126.2 1,155.8

. ._

Households and institutions
Rest of the world
General government
Federal
State and local

745.4

790.7

785.6

796.7

812.3

829.3

834.3

841.6

684.7

729.5

725.0

735.3

750.3

767.1

772.0

779.1

662.2
636.3
26.0

706.6
682.0
24.6

702.6
677.4
25.2

712.3
688.7
23.6

726.8
702.5
24.2

742.9
718.1
24.8

748.3
725.9
22.4

755.2
734.0
21.2
18.6

889.9
859.4
30.4

975.4
941.0
34.4

965.2
931.3
33.9

33 5

36 8

37 5
7 6

40 5
8 9

41 7
9 1

16 8
5 6

17.4

17.5

17.4

18.0

18.2

8.7

39 3
91

17.4

7.5

36 6
6 8

37 8

7.0

5.5

5.0

5.5

6.2

6.3

5.5

5.3

135.4
50 3
85.1

133.8
50 0
83.8

136.5
50 2
86.4

139.2
50 5
88.7

143.5
52 5
91.1

145.8
52 2
93.6

148.2
52 2
96.0

60.7
23 0
37.6

61.1
21.8
39.3

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

62.5
21.2
41.3

125.1
47.6
77.6

984.9 1, 013. 6 1,050.5 1,076. 8 1,105.1
951.0
976.9 1, 008. 9 1,033. 5 1,056.0
43.3
33.9
41.6
49.0
36.7

HISTORICAL STATISTICS
T H E 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. BEA will provide on request a reprint of the fully revised data for the years 1964-69.
Preliminary.


v

CURRENT BUSINESS STATISTICS

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

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

1970

1972
III

Annual total

1971
IV

I

II

1973

1972

| III | IV

I

|

II

| III

IV

III v

II

I

Seasonally adjusted quarterly totals at annual rates

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

977.1

1,055.5

1,155. 2

987.4

991.8 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

304.0

Personal consumption expenditures, total..do...

617.6

667.2

726.5

623.7

628.3

650.0

662.2

673.0

683.4

700.2

719.2

734.1

752.6

779.4

795.6

813.4

Durable goods, total?
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, total?
do.
Household operation
_
do.
Housing
do.
Transportation
do.

91.3
37.3

103.6
46.6
42.1

117.4
52.8
48.1

93.4
39.1

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

132.8
59.7
54.4

132.1
58.9
54.6

263.8
52.8
130.0
22.2

278.7
57.0
136.6
23.5

299.9
62.3
145.3
25.5

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
68.3
154.7
27.5

330.3
69.3
158.1
28.8

340.8
70.1
164.4
29.4

262.6
36.4
90.9
18.3

284.9
39.7
98.5
20.4

309.2
43.8
105.5
21.8

264.6
36.9
91.4
18.5

269.1
37.3
93.3
18.9

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

325.0
46.5
110.6

332.6
47.1
113.3
23.2

340.5
48.7
115.9
23.7

136.3

153.2

178.3

139.2

137.4

145.5

152.7

153.8

160.8

167.5

174.7

181.5

189.4

198.2

206.7

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

133.2
102.8
36.4
66.5
30.4
29.9
6.0
5.8

132.3
98.5
36.5
62.0
33.8
33.1
5.1
4.9

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
6.3

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

193.7
134.1
47.2
86.9
59.6
59.1
4.5
4.4

198.0
138.7
50.0
88.8
59.3
58.7
8.7
7.2

62.9
59.3

66.3
65.5

-4.6
73.5
78.1

4.2
63.9
59.7

2.8
63.2
60.4

3.8
65.9
62.1

.5
67.1

1.1
69.1
68.0

-2.2
63.0
65.2

-5.5
70.3
75.8

-5.7
69.9
75.6

74.0
77.7

-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

2.8
97.2
94.4

4.0
102.7
98.8

219.5

234.3
98.1
71.6
136.2

255.0
104.4
74.4
150.5

220.3
94.7
73.2

223.3
94.8
72.6
128.5

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

260.7
102.7
72.4
158.0

268.6
105.5
74.3
163.0

275.3
107.3
74.2
168.0

279.9
107.1
73.6
172.8

do.
do.
do
do.
do.
do.

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

981.3
472.1
186.2
285.9
413.5
95.7

do.
do.
do..

6.1
2.0
4.1

6.0
4.9
1.1

6.0
5.2

745.4

790.7

727.2

Gross national product, totalf

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
Exports
Imports

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: t
Final sales, total
Goods, total
Durable goods
Nondurable goods
Services...
Structures
Change in business inventories..
Durable goods
Nondurable goods

125.6

7.9

22.8
194.5

986.7 1,020.2 1,039.2 1,059.2 1,078.9 1,110.8 1,136.9 1,157.8 1,191.0 1,237.8 1,267.5 1,295.3
599.6
585.0
555.4
613.1
539.9
531.0
515.2
501.1
482.1
485.9
495.2
465.9
242.4
238.1
222.8
244.3
216.8
211.4
205.5
196.2
192.8
187.4
188.1
175.0
357.3
346.9
332.5
368.8
323.1
319.6
309.7
304.9
302.4
290.9
294.7
297.8
514.8
527.7
503.9
540.0
491.8
481.5
471.8
460.9
450.8
421.0
433.9
444.0
138.1
131.7
140.1
142.1
126.2
124.4
123.8
117.0
113.2
99.8
104.1
109.3
4.5
4.6
8.2
8.7
8.7
5.5
1.7
5.3
7.0
7.6
4.3
5.1
7.3
10.4
4.4
8.4
5.8
3.2
.4
-.9
4.1
.7
4.2
-1.1
-2.2
.3
.4
2.9
2.3
6.2
1.3
-2.8
6.2
2.9
3.7
3.4

GNP in constant (1958) dollars!

Gross national product, totalf

,

bil.$..

Personal consumption expenditures, total..do
Durable goods
do
Nondurable goods
do
Services
do.
Gross private domestic investment, total...do..

722.5
477.5

496.3

526.8

480.9

719.3
477.5

735.1
489.5

83.8
206.5
187.2

92.2
211.6
192.4

104.0
220.9
201.8

85.6
207.2
188.1

79.3
209.8
188.4

89.3
210.2
189.9

740.4
493.6

746.9
498.0

759.0
504.1

768.0
512.5

785.6
523.4

812.3

829.3

834.3

841.6

531.0

540.5

552.7

553.3

556.8

117.0
228.8
207.0

116.2
228.0
209.1

114.9
230.0
211.9

796.7

90.2
211.8
191.7

93.6
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

103.4

110.3

122.9

105.4

102.1

106.6

110.3

109.5

114.8

116.5

121.0

124.8

129.1

130.2

130.2

134.0

do...
___do__.
do...
do...

99.5
77.2
22.2
3.9

105.0
76.1
29.0

5.3

118.3
83.7
34.6
4.6

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
6.6

122.8
87.5
35.3
6.3

126.9
91.2
35.6
3.3

126.9
91.5
35.3
3.4

128.1
93.6
34.6
5.9

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

2.3

.4

-2.0

3.0

2.0

2.4

-.2

-1.1

-3.7

-2.8

2.0

5.6

5.4

144.0
62.9
81.1

143.5
58.6
85.0

144.4
58.2
86.2

145.2
58.2
87.0

145.4
57.3
88.1

Fixed investment
Nonresidential
Residential structures
Change in business inventories

139.3
138.4
143.0
138.0
137.8
64.3
60.9
60.
62.4
61.8
75.0
77.5
82.2
75.5
76.0
r
Revised.
* Preliminary.
f Revised series. Estimates of national income and product and personal income have been revised back to 1969 (see p. 14ff.of the July 1973 SURVEY);
revisions prior to May 1972 for personal income appear on pp. 27-28 of the July 1973 SURVEY.




142.7
141.1
138.6
136.7
136.7
63.0
62.5
61.1
60.1
59.9
79.7
79.1
77.5
76.6
76.8
9 Includes data not shown separately.

141.8
58.8
83.0

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

October 1973

1971

I

IV

II

1972

III

IV

I

II

1973

III

IV

I

in*

II

IV

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

800.5

859.4

941.8

835.9

853.6

Compensation of employees, totalf

do

603.9

644.1

707.1

610.6

627.6

638.8

648.8

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

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

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

69.2

80.1

91.1

65.9

75.8

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

14.2
51.7
23.7
17.5
6.3

14.0
61.8
31.8
17.6
14.2

7.8
20.1

8.6
23.9

24.2

7.3
20.7

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

116.6
691.7
635.5
56.2

863.5
117.5
746.0
685.8
60.2

79.71
31.95
15.80
16.15

882.7

911.0

928.3

949.2

978.6

,015.0

661.2

684.3

699.6

713.1

731.2

757.4

774.9

793.5

577.6
452.3
18.9
106.3
71.1
68.6
52.3
16.3
24.7

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

698.9
552.8
20.4
125.7
94.6
85.1
58.0
27.1
25.3

80.5

80.9

83.4

86.2

88.0

91.5

104.3

107.9

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

21.4
86.5
52.4
23.9
28.5

8.2
21.8

9.1
23.9

9.1
24.1

7.9
25.7

8.5

8.9
23.1

9.8
24.1

25.7

9.2
25.6

8.5
25.6

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

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

119.6
52.7
66.9
26.9
40.0
-15.4
47.9

128.9
57.4
71.6
27.3
44.2
-21.1
49.4

939.2
142.2
797.0
747.2
49.7

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

81.21
29.99
14.15
15.84

88.44
31.35
15.64
15.72

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. 8 6

7.74
3.86
3.87

25.20
9.38
4.77
4.61

21.50
7.

47.76

51.22

13.06

2.16
1.67
1.88
1.38

.49
.34
.34
.28

.54
.47
.60
.36

13.14
10.65
2.49
10.10
16.59

15.30
12.86
2.44
10.77
18.05

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

10.99

1.89
1.78
3.03
1.23

57.09
2.42
1.80
2.46
1.46
17.00
14.48
2.52
11.89
20.07

3.11
2.70
.41
2.50
3.94

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
.63
.47
.63
.40
4.74
4.01
.73
3.39
5.57

do.
..do.
_do.
do.

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

15.67
15.31

do..
do..
_do_
do_
do.
do.
do.
..do.
do.
do.

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

51.50
2.0$
1.88
2.28
1 40

14.64
12.16
2.48
10.70
17.39

14.91
12.61
2.30
11.21
17. T2

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.
2.89
1.53
16.60
14.32
2.27
11.59
19.88

16,48'
10,87!

16,78:
10,79:

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 f
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 ^
do...
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
C ommunioation
Commercial and other

-..

Seas. adj. qtrly. totals at annual rates:
All industries
Manufaeturing..
Durable goods industries %
Nondurable goods industries %
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

,038.2

28.1
-17.0
51.1

1,019.0
149.3
869.7
818.7
51.0

046.7
155.8
890.9
837.5
53.4

3.88

24.73
9.16
4.65
4.51

25.35
9.48
4.79
4.68

28.6?
11.00
5.70
5.30

13.69
.63
.46
.52
.32
3.95
3.45
.50
2.87
4.94

15.57
.71
.46
.72
.43
4.59
3.91
.68
3.27
5.40

15.87
.74
.50
.54
.43
5.16
4.24

17.62
.76
.59
.56
.35
5.67
4.69
.98

2 8.50

'9.70

91.94
33.64
16.86
16.78

96.19
35.51
17.88
17.63

56.70
2.40
1.50
2.6'
1.41
17.01
14.62
2.38
11 56
20.16

58.30
2.46
1.71
2.33
1.42
17.53
14.67
2.86
12.63
20.21

60.68

97.76 1101.8! 104.36
39.05
36.58 38.18
19.98
19.52
18.64
18.66
19.08
17.94
65.30
61. IS 63.70
2.94
3.00
2.77
2.16
2.03
1.75
2.05
2 37
•2.7:
1.33
1.72
1.6:
20.96
19.84
18.08
17.26
16.76
15.55
3.70
3.09
2.52
12.70
21.55
2 34.74 2 35.86

18,49
12,36

19,92
13,2:

22,61
15,32(

3.92

2.59
2.11
2.21
1.53
18.38
15.40
2.98
12.3'
21.53

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.

62,91
41,964

66,28'
42,76!

73,462
48,76?

15,80!
10,45

1,47!

1,91

1,161

42!

11,4
8,055

12,89<
8,71(

13,92f
9,601

2.85C
2,067

-59,28<
-39,78!
-4,85!
-5,167
-9,684

48!

498

15,73?
9,585
4:

2,98!
2,12!

3,31,
2,16!

3,03!
2,23

3,55

-65,48C
-45,46e
-4,82<

-78,07: -15,09! -15,53
-55,68! -10,26' -10,7'
-4,72
-1,17
-1,20;

-16,650
-11,708
-1,21'

-17,0C
-11,9C
—1,2C

-16,2?
-11,10
-1,23

-4,92'
-10,25!

-6,0&
-11,60

-1,13
—2,59;

-1,2?
-2,5!

-2,6:

-1,21'
-2,411

-2,45

Balance on goods and services, total
do...
3,631
807 -4,610
7a
2,171
-2,69
-6,91
Merchandise, adjusted, excl. military
do
18!
«• Revised.
* Preliminary.
i Estimates (corrected for systematic biases) for JulySept, and Oct.-Dec. 1973 based on expected capital expenditures of business. Expected expenditures for the year 1973 appear on p . 19 of the September 1973 SURVEY.
2 includes communication,
f See corresponding note on p. S-l.
9 Includes inventory valuation adjustment.
© Personal outlays comprise personal consumption expenditures, interest paid by




17,28!
11,52!

17,58:
11,65J

17,46!
11,53'

32!

3,27(
2,36(

2,2S

3,4'
2,3<

-18,96: -18,88' -19,4;
-13,471 -13,3: -13,93
-1,22: -1,242 - 1 , 1
-1,4!
-2,84:

-1,4'
-2,85

16747

343

28!

3,31

P24,272

-1,55
-2,8C

3,8e
2,51
-20,7!
-14,9J
-1,1
-1,63'
-3,04!

4,
2,79(
-22,4
-16,28
-1,16!

P4,236
P2,802
P-23,651

•16,97'
l l

-1,84 P-2,1
3lfr *>-3,3C

15
-8;
280
-56 -1,37 -1,4:
x>-23(
-38
-1,5
-1,82 -1,77
-1,5
-1,7'
consumers, and personal transfer payments to foreigners.
§ Personal saving is excess of disposable income over personal outlays.
Q _ n p . r 1n t h e
UPata for individual durable and nondurable goods industries components appear m ™
Mar., June, Sept., and Dec. issues of the SURVEY.
cTMore complete details appear in tne
quarterly reviews in the Mar., June, Sept., and Dec. issues of the bURVEY.

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