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SURVEY OF CURRENT BUSINESS 12 July 11)52 Table 1.—National Income by [Millions of dollars] 1930 1929 National income Compensation of employees., _ _ Wages and salaries Private Military _ __ Government civilian _ _ __ _ __ _ _ _ _ _ Supplements to wages and salaries Employer contributions for social insurance Other labor income _ _ Income of unincorporated enterprises and inventory valuation adjustment Business and professional Income of unincorporated enterprises Inventory valuation adjustment Farm . __ . _ _ _ __ _ Corporate profits and inventory valuation adjustment Corporate profits before tax _ Corporate profits tax liability Corporate profits after tax Dividends Undistributed profits Inventory valuation adjustment __ 1935 1936 58, 873 41, 690 39, 584 48, 613 56, 789 64,719 50, 786 46,515 39, 470 30, 826 29, 330 34, 067 37, 107 42, 675 50 165 45, 206 4, 647 45 894 40, 720 315 4,859 38 886 33, 607 308 4,971 30 284 25, 297 295 4,692 28 825 23 660 270 4 895 33 520 27 420 271 5 829 36 508 29 984 306 6 218 41 754 33 866 338 7 550 621 101 520 621 106 515 584 111 473 542 126 416 505 133 372 547 147 400 599 171 428 921 418 503 13, 927 10, 963 8,214 4,921 5,207 6,603 9,858 9,942 8,262 8,120 5,665 7,032 6,277 755 3,931 5,316 4, 705 611 2,898 3,206 2,911 295 1,715 2,925 3 450 — 525 2 282 4,276 4 330 — 54 2 327 4,987 5 037 — 50 4 871 6,074 6 194 — 120 3 868 5,811 4,786 3,620 2,508 2,018 2,095 2,288 2,682 ___ 10,290 6,563 1,631 -1,995 -1,981 1,098 2,997 4,946 _ 9,818 1,398 8,420 5,823 2,597 472 3,303 848 2,455 5,500 -3,045 3,260 -783 500 -1,283 4,098 -5,381 2,414 -3,042 382 —3, 424 2,574 -5,998 1,047 162 524 — 362 2,066 — 2 428 -2, 143 1,723 746 977 2, 596 — 1 619 -625 3,224 965 2,259 2,872 — 613 -227 5,684 1 411 4,273 4,557 —284 — 738 6,541 6,176 5,938 5,430 5 010 4 750 4 539 4 474 _ _ _ 1934 75, 003 142 Rental income of persons 1933 87,355 312 _ _ _ _ 1932 1931 ___ __. _ _ _ _ _ _ Net interest Table 2.—Gross National Product [Millions of dollars] 1929 Gross national product. _ . _ _ _ . Gross private domestic investment . _ New construction _. Producers' durable equipment. Change in business inventories _ _ _ _ __ Net foreign investment Government purchases of goods and services Federal National security ' National defense Other national security Other Less* Government sales State and local _ _ 1933 1934 1935 90, 857 75, 930 58, 340 55,760 64,868 72, 193 82,483 78,761 70, 789 61, 153 49,208 46,346 51,882 56,215 62,515 _ _ _ _ _ _ _ 9,362 37, 742 31, 657 7,275 34, 052 29, 462 5, 569 28, 955 26, 629 3,694 22, 743 22, 771 3, 503 22, 254 20, 589 4, 255 26, 732 20, 895 5,158 29,377 21, 680 6,374 32, 887 23, 254 _ 15, 824 10, 209 5,362 886 1,306 2,807 6,146 8,318 7,824 6,438 1,562 5,566 4,926 —283 3,561 3,162 —1,361 1,668 1,781 —2, 563 1,142 1,783 —1,619 1,420 2, 531 —1, 144 1,890 3, 351 905 2,783 4,531 1,004 771 690 197 169 150 429 —54 —93 8,472 9,169 9,218 8,077 7,958 9,750 9,886 11,743 1,311 1,410 1,537 1,480 2,018 2,991 2,931 4,815 2,935 4,818 6 4 6, 759 6, 955 3 6,928 _ _ 1, 344 _ 1936 103, 828 _ Personal consumption expenditures. Durable goods Nondurable goods Services 1932 1931 1930 33 7,161 22 7,759 12 4 7,681 6, 597 4 5,940 i For the years 1947 to 1951, national defense purchases comprise the purchases of the Atomic Energy Commission, Defense Department, Maritime Administration (before 1950), National Advisory Committee for Aeronautics, and Selective Service System, together with purchases for the programs of defense production and economic stabilization, foreign military assistance administered by Mutual Security Agency (formerly Mutual Defense Assistance program), and the stockpiling of strategic and critical materials. Purchases under "Other SUKVEY OF CURRENT BUSINESS July 1952 Distributive Shares, 1929-51 1937 1938 1939 13 [Millions of dollars] 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 73,627 67,375 72,532 81,347 103, 834 137, 119 169, 686 183, 838 182, 691 180, 286 198, 688 223, 469 216, 259 239, 170 277,554 47, 696 44, 747 47, 820 51,786 64, 280 84,895 109,212 121, 163 123, 026 117,098 127, 988 140, 166 139,915 153,375 178,88 45, 948 38, 432 358 7,158 42, 812 34, 564 370 7,878 45, 745 37, 519 398 7,828 49, 587 41, 130 591 7,866 61, 708 51, 537 1,862 8,309 81, 887 65, 788 6,330 9,769 105, 647 78, 814 14, 445 12, 388 116, 924 83, 449 20, 638 12, 837 117, 673 82, 101 22, 598 12, 974 111, 227 90, 577 7,962 12, 688 122, 059 104, 803 4,068 13, 188 134, 357 115, 659 3,970 14, 728 133, 356 112, 978 4,248 16, 130 145, 603 123, 442 4,999 17, 162 169, 90( 141, 151 8,64( 20, 10' 1,748 1,234 514 1,935 1,423 512 2,075 1,540 535 2,199 1,624 575 2,572 1,983 589 3,008 2,302 706 3, 565 2,677 888 4,239 2,937 1,302 5,353 3,805 1,548 5,871 3,970 1,901 5,929 3,565 2,364 5,809 3,042 2,767 6,559 3,503 3,056 7,772 3,962 3,810 8,97' 4,74* 4,22( 12, 249 10, 768 11, 282 12,660 16,504 23,041 26,731 28,997 31,247 35,375 35,365 39, 751 34, 405 37,015 41,77* 6,630 6,659 -29 5,619 6, 347 6,126 221 4,421 6,776 6,942 -166 4,506 7,720 7,772 -52 4,940 9,566 10, 210 -644 6,938 12, 573 12, 945 -372 10, 468 14, 963 15, 117 -154 11, 768 17, 156 17, 226 -70 11, 841 18, 719 18, 832 -113 12, 528 20, 585 22, 404 -1,819 14, 790 19, 776 21, 323 -1,547 15, 589 22, 085 22, 480 -395 17, 666 21, 629 20, 998 631 12, 776 23, 667 24, 907 -1, 240 13, 348 26, 21( 26,59 -38 15, 56* 3,140 3,278 3,465 3,620 4,322 5,395 6,109 6,495 6,256 6,620 7,059 7,506 7,720 8,175 8,87 6,166 4,292 5,753 9,177 14,615 19,894 24,279 24,046 19, 153 18,271 24, 732 31,711 29, 189 34,795 41,57 6,197 1,512 4,685 4,693 -31 3,329 1,040 2,289 3,195 -906 963 6,467 1,462 5,005 3,796 1,209 -714 9,325 2,878 6,447 4,049 2,398 -148 17, 232 7,846 9,386 4,465 4,921 -2, 617 21, 098 11,665 9,433 4,297 5,136 -1,204 25, 052 14, 406 10, 646 4,493 6,153 -773 24, 333 13, 525 10, 808 4,680 6,128 -287 19, 717 11, 215 8,502 4,699 3,803 -564 23, 464 9,583 13, 881 5,808 8,073 -5, 193 30, 489 11, 940 18, 549 6,561 11, 988 -5, 757 33, 762 13, 028 20, 734 7,250 13, 484 -2,051 27, 107 10, 817 16, 290 7,469 8,821 2,082 39, 610 18, 383 21, 227 8,957 12, 270 -4,815 42,87 24,21 18,66 9,03 9,62 —1,2 4,376 4,290 4,212 4,104 4,113 3,894 3,355 3,137 3,009 2,922 3,544 4,335 5,030 5,810 6,49 o or Expenditure, 1929-51 [Millions of dollars] 1939 1938 1937 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 90,213 84,683 91,339 101,443 126,417 161,551 194,338 213, 688 215,210 211,110 233,264 259, 045 258,229 284, 187 329, 232 67, 121 64,513 67, 466 72, 052 82, 255 91,161 102, 244 111,550 123, 079 146, 907 165, 570 177,890 180, 588 194,277 207, 972 7,005 35, 232 24, 884 5,754 34, 032 24, 727 6,729 35, 258 25, 479 7,854 37, 594 26, 604 9,750 43, 960 28, 545 7,060 52, 871 31, 230 6,824 60, 970 34, 450 7,103 67, 054 37, 393 8,472 74, 886 39, 721 16, 573 85, 849 44, 485 21, 369 95, 142 49, 059 22, 883 100, 889 54, 118 23, 840 99, 223 57, 525 29, 152 102, 760 62, 365 27, 120 113, 505 67, 347 11,440 6,311 9,917 13, 949 18,334 10,873 5,709 7,714 10, 733 28,726 30, 187 42,693 33,465 50,349 58, 515 3,687 5,444 2,309 3.309 3,975 —973 4,899 4,577 441 5,566 6,108 2,275 6,784 7,676 3,874 3, 951 4, 857 2,065 2,549 4,082 —922 2,817 5,706 —809 3,934 7,545 —746 10, 291 12, 328 6,107 13, 904 17, 080 —797 17, 716 19, 948 5,029 17, 250 18, 697 —2, 482 22, 889 21, 989 5,471 23, 252 24, 927 10, 336 62 1,109 888 1,509 1,124 —207 —2,245 —2,099 —1,438 4,561 8,895 1,864 528 —2,304 193 11,590 12,750 13, 068 13,933 24,704 59,724 88, 630 96, 523 82, 836 30, 916 28, 612 36,598 43, 648 41,865 62,552 4,552 5,280 5,157 1, 258 6,170 2,223 16, 923 13,794 52, 027 49, 567 81, 223 80, 384 89, 006 88, 615 74, 796 75, 923 20, 946 21, 177 3, 908 9 7,911 3,956 9 7,763 3,173 44 7,781 2,664 204 7,697 1,480 641 7,407 1,552 1,161 7,517 1,031 2,158 8,040 2,469 2,700 9,970 15, 784 13, 328 12, 233 1,095 3,751 1, 295 12, 828 21, 022 16, 083 11,677 4,406 5,570 631 15, 576 25, 449 19, 274 13, 556 5,718 6,570 395 18, 199 22, 165 18, 497 14, 244 4,253 3,909 241 19, 700 40, 881 37, 085 33, 663 3,422 4,202 406 21, 671 [ 4,557 5, 286 5 7,038 6 7,470 [ national security" comprise those of the Maritime Administration (after 1949), National Security Council, National Security Resources Board, Philippine War Damage Commission, and State Department, as well as purch ases for the following foreign economic assistance programs: those now administered by the Mutual Security Agency, government and relief in occupied areas, India E mergency Food Aid, International Children's Emergency Fund, and Yugoslav Emergency Relief Assistance. National security purchases for the years 1939-46 represent the series labeled "War" in the 1951 National Income supplement. SURVEY OF CURRENT BUSINESS 14 July 1952 Table 3.—Personal Income and [Millions of Dollars] 1929 Personal income _ _ _ _ Wageandsalaryreceipts_ __ _ Total employer disbursements. _ Less: Employee contributions for social insurance 1930 1931 1932 49, 274 46, 629 53, 230 59 861 68 353 30, 132 30, 284 152 28, 673 28, 825 152 33, 363 33, 520 157 36, 346 36, 508 162 41 574 41, 754 180 400 2 596 5 980 2 193 428 12, 146 2 872 5 680 i 389 503 12, 624 4 557 45, 747 45, 894 147 38, 735 38, 886 151 _ _ _ _ _ _ _ _ 520 19, 738 7 524 1.499 515 15, 749 5, 500 7, 140 1,544 11,834 4,098 2,643 Equals: Disposable personal income Less: Personal consumption expenditures _ _ Less* Personal tax and nontax payments Federal State and local _ - - 5,823 473 416 7,429 372 7,225 8,698 7 022 2,673 2, 574 6 571 2, 152 2,507 1,134 1,373 1,858 607 1, 251 1,455 331 1, 124 1 464 474 990 1 595 595 1 000 1 888 827 1 061 o 258 1 130 1 128 82, 484 73, 688 62, 977 47, 819 45 165 51 635 57 973 66 095 78,761 70, 789 61, 153 49, 208 46 346 51 882 56 215 62 515 3,723 2,899 1 824 — 1 389 — 1 181 —247 1 758 3 580 1,263 1,380 Equals * Personal saving ' 1936 64, 835 50, 023 50, 165 142 _ 1935 76, 195 _ _ _.. _ _ _ . _ 1934 85, 127 __ Other labor income Proprietors' and rental incomeDividends Personal interest income Transfer payments 1933 2, 066 6 180 2 113 3' 520 Table 4.—Relation of Gross National Product, [Millions of dollars] 1929 Gross national product Less' Capital consumption allowances Depreciation charges _ Accidental damage to fixed capital Capital outlays charged t o current expense Equals: Net national product _ _ _ _ _ _ ____ 1932 1931 1930 1933 1934 1935 1936 103 828 90 857 75, 930 58, 340 55 760 64 868 72 193 82 483 8,816 7,553 413 850 8,747 7,653 8,312 351 478 7,663 6,950 7,245 6,608 7,218 389 705 7,483 329 384 275 362 7 369 6, 577 7 684 237 455 236 556 381 696 74, 799 6,526 6,607 95, 012 82, 110 67, 618 50, 677 48, 515 57, 650 64, 824 Plus* Subsidies minus current surplus of government enterprises — 147 — 123 —49 A K 18 283 403 39 Less: Indirect business tax and nontax liabilitv Business transfer payments Statistical discrepancy.. _______ 7,003 7, 155 6, 859 6, 768 7,055 7,815 8, 190 641 864 8,663 -346 594 862 587 -80 _ Equals* National income Less: Undistributed corporate profits Corporate profits tax liability Corporate inventory valuation adjustment Contributions for social insurance Excess of wage accruals over disbursements Plus: Net interest paid by government Government transfer payments Business transfer payments Equals: Personal income _ _ __ _ 649 737 1,188 1,437 659 1,235 594 87, 355 75, 003 58, 873 41,690 39, 584 48, 613 56, 789 64,719 2,597 —3, 045 -5,381 -5, 998 -2. 428 — 1,619 —613 500 382 524 746 2,414 1,047 -2, 143 -625 -284 1,411 -738 262 0 278 0 285 0 304 0 333 0 598 0 1, 101 2 926 1,398 - __ 534 -705 472 243 0 848 3,260 253 0 964 965 -227 983 912 587 1,010 1,084 2 024 1,141 1, 415 1,170 1 454 1,230 1 552 1, 141 1 795 534 649 737 659 641 594 594 85, 127 76, 195 64, 835 49, 274 46, 629 53, 230 59,861 68,353 " SURVEY OF CURRENT BUSINESS July 1052 15 Disposition of Income, 1929—51 [Millions of dollars] 1939 1938 1937 1941 1940 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 73, 976 68,327 72,607 78,347 95,308 122, 721 150, 286 165, 892 171,927 177, 724 191, 000 209, 494 205,867 226,312 254,075 45, 382 45, 948 566 42, 258 42, 812 554 45, 149 45, 745 596 48, 929 49, 587 658 60, 907 61, 708 801 80, 721 81, 887 1,166 103, 599 105, 438 1,839 114, 881 117,117 2,236 115, 326 117, 659 2,333 109, 246 111, 257 2,011 119, 926 122, 044 2,118 132, 149 134, 327 2,178 131, 167 133, 401 2,234 142, 678 145, 567 2,889 166, 461 169, 877 3,416 514 15, 389 4,693 5, 580 2,418 512 14, 046 3,195 5,482 2,834 535 14, 747 3,796 5,417 2,963 575 16, 280 4,049 5,395 3,119 589 20, 826 4,465 5,402 3,119 706 28, 436 4,297 5,411 3,150 888 32, 840 4,493 5,495 2,971 1,302 35, 492 4,680 5,940 3,597 1,548 37, 503 4,699 6,672 6,179 1,901 41, 995 5,808 7,354 11, 420 2,364 42, 424 6,561 7,922 11, 803 2,767 47, 257 7,250 8,786 11, 285 3,056 42, 125 7,469 9,644 12, 406 3,810 45, 190 8,957 10, 545 15, 132 4,226 50, 649 9,036 11, 339 12, 364 2,921 1,723 1,198 2,862 1,635 1,227 2,440 1,235 1,205 2,604 1,364 1,240 3,293 2,016 1,277 5,981 4,668 1,313 17, 845 16, 517 1,328 18, 935 17, 536 1,399 20, 867 19, 379 1,488 18, 808 17, 162 1,646 21, 506 19, 650 1,856 21, 142 18, 997 2,145 18, 626 16, 159 2,467 20, 808 18, 120 2,688 29, 100 26,100 3,000 71,055 65,465 70, 167 75,743 92,015 116,740 132,441 146,957 151,060 158,916 169, 494 188,352 187,241 205, 504 224, 975 67, 121 64,513 67,466 72,052 82,255 91, 161 102,244 111,550 123,079 146, 907 165,570 177,890 180,588 194,277 207, 972 3,934 952 2,701 3,691 9,760 25,579 30, 197 35, 407 27,981 12,009 3,924 10,462 6,653 11, 227 17, 003 National Income, and Personal Income, 1929-51 [Millions of dollars] 1939 1938 1937 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 90,213 84,683 91,339 101, 443 126, 417 161,551 194,338 213, 688 215,210 211,110 233,264 259, 045 258,229 284, 187 329,232 7,972 6,838 304 830 7,992 6,894 387 711 8,101 7,082 222 797 8,440 7,228 246 966 9,294 7,878 273 1,143 9,981 8,712 484 785 10, 680 9,504 399 777 11, 887 10, 584 360 943 12, 410 10, 885 381 1,144 12, 163 9,817 407 1,939 14, 845 12, 086 567 2,192 17, 612 14, 368 574 2,670 19, 371 16, 409 518 2,444 21, 538 18, 001 614 2,923 24, 626 20,062 967 3,597 82, 241 76,691 83, 238 93, 003 117,123 151, 570 183,658 201,801 202,800 198,947 218,419 241,433 238,858 262,649 304,606 60 176 485 420 102 150 183 705 835 929 -75 -21 -12 419 541 9,157 567 -1,050 9,154 429 -91 9,365 451 1,375 10, 021 431 1,624 11, 296 502 1, 593 11, 769 495 2,337 12, 735 505 915 14, 127 506 4,035 15, 522 532 4,890 17, 349 557 1,684 18, 658 674 324 20,390 739 -2, 186 21, 644 781 162 23, 751 840 -693 25,329 860 1,404 73, 627 67, 375 72, 532 81,347 103, 834 137, 119 169,686 183,838 182,691 180, 286 198,688 223,469 216,259 239, 170 277,554 -8 1,512 -31 1,800 0 -906 1,040 963 1,977 0 1,209 1,462 -714 2,136 0 2,398 2,878 -148 2,282 0 4,921 7,846 -2, 617 2,784 0 5,136 11, 665 -1,204 3,468 0 6,153 14, 406 -773 4,516 209 6,128 13, 525 -287 5, 173 -193 3,803 11, 215 -564 6,138 14 8,073 9,583 -5, 193 5,981 -30 11, 988 11, 940 -5,757 5,683 15 13, 484 13, 028 -2,051 5,220 30 8,821 10,817 2,082 5,737 -45 12, 270 18, 383 -4,815 6,851 36 9,625 24, 213 —1,295 8,164 29 1,204 1,851 567 1,192 2,405 429 1,205 2,512 451 1,291 2,688 431 1,289 2,617 502 1,517 2,655 495 2,140 2,466 505 2,803 3,091 506 3,663 5,647 532 4,432 10, 863 557 4, 378 11, 129 674 4,451 10, 546 739 4,614 11, 625 781 4,735 14, 292 840 4,893 11, 504 860 73,976 68,327 72,607 78,347 95,308 122, 721 150, 286 165,892 171,927 177,724 191,000 209,494 205,867 226,312 254,075 SURVEY OF OUERENT BUSINESS July 1!>.~>2 29 Table 41.—National Income by Distributive Shares, Seasonally Adjusted Quarterly Totals at Annual Rates, 1949—51 [Billions of dollars] 1949 National income Compensation of employees Wages and salaries Private _ Military Government civilian Supplement to wages and salaries I II III IV Year 221.2 215.7 215.5 212.7 216.3 140.9 139.8 133 3 113 1 139.4 132 8 112 2 139.7 132 9 112 0 139.9 133 4 113 0 16 1 6.5 16 4 6 6 16 4 6 8 134 5 114. 7 4.2 15 7 ._ _ 6.3 4.1 1951 1950 4.5 4.2 I II III IV Year I II III IV 218.9 231.3 247.2 259.4 239 2 269.6 274.8 280.2 285.6 277.6 148.7 141 2 120 1 4 3 16 8 7 5 165 157 132 6 17 8 4 0 7 3 9 4 153 145 123 5 17 7 4 6 4 0 2 8 172.9 163 9 137 6 7 4 18 9 8 9 178.2 169 3 141 2 85 19 6 90 181.0 172 1 142 0 9. 1 21 0 183.4 174 3 143 8 178.9 169 9 141. 2 16 1 6 6 142.0 134 8 113 9 4 4 16 4 7 2 157.4 149 5 127 1 4 9 17 5 7 9 20 9 9 1 20 1 8.9 42.6 22 1 12 4 80 43.4 23 2 12 2 7 9 46.8 24 6 13 9 83 48 24 14 8 0 7 8 5 45 23 13 8 2 7 3 2 49 26 15 8 7 2 1 5 49.0 26 0 14 4 85 50.8 26 0 15 8 9 i 53.1 26 6 17 0 9 4 50.6 26 2 15 6 8 9 5 5 5 0 0 37.0 44 3 20 6 23 7 —7 2 39 48 22 26 —8 8 4 5 0 6 34 39 18 21 —4 8 6 4 2 8 40 50 28 21 —9 7 1 4 7 4 41.2 43 3 24 5 18 8 —2 1 41.9 38 6 21 8 16 9 3 2 42.5 39 5 22 2 17 3 30 41.6 42 9 24.2 18 7 — 1.3 4.2 Year 9.6 8.6 9.0 Proprietors' and rental income _ . _ . Business and professional Farm Rental income of persons 43.8 21 8 14 4 7 5 42.2 21 7 12 8 7 7 41.2 21 5 12 0 7 8 41.3 21 6 11 8 7 9 42.1 21 6 12 8 7 7 Corporate profits and inventory valuation adjustment Corporate profits before tax Corporate profits tax liability Corporate profits after tax Inventory valuation adjustment __ _ 31.8 31 3 12.5 18 8 .5 28.7 24 7 9 9 14 8 4 0 29.8 26 6 10 7 16 0 31 26.5 25 8 10 3 15 5 7 29.2 27 1 10 8 16 3 2 1 4.8 50 51 53 50 55 57 59 6 2 58 6 3 6 4 6 5 6 6 6.4 18.9 19.2 19.6 20 0 19.4 19 7 19 8 21 0 22 9 20 9 25 1 26 8 28 6 29.0 27.4 Net interest _ _ Addendum: Compensation of general government employees __ __. __ 28 30 14 16 —1 8 2 0 2 4 33 35 16 19 —2 Table 42.—Gross National Product or Expenditure, Quarterly, 1949-51 [Billions of dollars] 1949 Gross national product . Personal consumption expenditures. Durable goods Nondurable goods ._ __ Services ... _ _ _ _ _ _ . __ I II III .. 63.1 62.8 ___ 42.1 4 9 23. J 14.2 44.7 5 7 24.6 14.3 10.2 36 6.5 4.2 5.0 4 8 ._ . Gross private domestic investment . New construction Producers' durable equipment-Change in business inventories—-total Nonfarm only 4.6 2.0 2.0 Net foreign investment Government purchases of goods and services Federal National security National defense Other national security. .Other Less: Government sales. _ _ _ . State and local 1950 .3 .3 10.5 11.3 6.4 4 8 . 6.6 5 1 3.4 1.4 1.6 3.5 1.7 1.6 4.1 4.6 .1 _ _ —2.7 —2.4 .1 IV Year 64.6 67.7 258. 2 64.1 44.1 6 0 23 8 14 3 49.7 7 3 27 7 14.7 180.6 23 8 99 2 57.5 43.7 5 7 22 9 15 1 9.6 7.2 47 4.5 33.5 17 2 18 7 —2.5 —1 6 10.7 4 3 4 4 10.4 5 6 5 3 2 0 __ 7 .5 — 4 — 4 10 5 4 3 4.6 2 5 —2.0 —1 7 I o — 1 9 3 9 4 10 9 6. 1 4 4 3 3 16 18 .1 6 6 .4 10 0 5 5 4 2 31 1. 1 13 .1 4.8 18.2 4.5 10 6 4 3 1.5 .2 4.7 1.2 43 25 19 13 6 4 3 6 5.7 III IV 66.9 73.3 46.7 6 4 24 8 15 6 49.9 8 5 25 7 15 6 14.2 69 6 2 1. 1 II 2.0 1951 8 2 2 3 1 10 1 5. 1 4 4 3 4 .1 .l 5.0 5.0 1.3 9 .9 8 Year I 79 9 284 2 79.2 80 1 81 8 88 2 329 2 53 8 29 16 9 5 4 1 194 29 102 62 3 2 8 4 50 7 26 16 0 0 4 6 50 6 27 16 4 4 2 8 50 6 27 16 5 3 5 7 57 7 32 17 0 5 4 2 208 07 113 67 0 i 5 3 15 1 6 2 6 1 3 9 0 5 6 17 5 6 5 5 3 2 4 6 3 14.6 59 6 6 2 1 18 14 6 5 2 1 1 3 8 0 8 12 5 5 8 6 1 2 5 50 22 22 5 4 58 23 24 10 q 5 3 <) 3 4 — 6 —2 3 2 7 11 5 6 4 5 6 4 6 10 41 22 18 14 4 3 16 11 10 9 9 4 4 6 17 9 12*2 11 1 10 2 1 1 1 3 62 40 37 33 3 4 6 9 1 7 4 2 8 1 5.2 9 2 5 2 3 9 2 19 7 II — 7 12 7 6 6 6 7 9 1 8 9 1 4.9 III 0 15 9 8 7 1 6 7 8 .9 9 1 5.5 IV 8 1 5 5 Table 43.—Gross National Product or Expenditure, Seasonally Adjusted Quarterly Totals at Annual Rates, 1949—51 [Billions of dollars] 1949 Gross national product Personal consumption expenditures Durable goods Nondurable goods - _ _ . _ _ . _ _ Services _ ._. Gross private domestic investment New construction Producers' durable equipment-Change in business inventories — total Nonfarm only, ... . . .. _ _ . - ... Net foreign investment Government purchases of goods and services Federal _ .__ _ _ _ _ _ _ _ _ _ _._ ... - _ National security National defense - _ _ - _ _ ._ _ Other national security Other Less: Government sales- _ - _ ___ State and local 1950 1951 i I II III 260.6 258 6 256 9 256 8 258 2 263 5 277 8 291 3 178.7 22 4 100. 1 56 3 180.2 23 6 99 6 57 0 180 24 98 57 5 5 1 9 183 25 99 58 0 0 1 9 180 23 99 57 6 8 2 5 184 26 98 60 9 0 7 1 189 26 100 61 3 7 8 8 203 34 106 63 5 2 2 1 37 5 17 1 19.2 32 6 32 7 16 9 18.3 —2 6 —1 2 31 18 18 —5 —4 0 2 2 4 2 33 17 18 —2 —1 5 2 7 5 6 39 20 IS — — 0 8 5 2 1 50 0 50 24 24 2 g 3 4 1 5 —1 7 —1 6 —3 2 —2 7 6 4 3 6 7 6 41 3 21 9 16 9 12*5 4 3 4 53 3 40 20 17 12 5 3 40 20 17 13 3 3 45 25 22 18 3 3 18 2 19 4 19 3 1.2 1.1 19.1 —3 2 —2. 1 IV 1.2 1.3 43.2 25.6 19 3 13.6 58 44.5 26.6 20 5 13 9 6 6 6 3 43 25 19 13 5 6 17 5 18 0 18 5 6.6 .3 .3 .2 6 1 4 6 9 4 ' Year —.5 43 24 17 13 4 7 3 5 8 1 7 0 .3 18 8 43 25 19 13 5 6 I III II 22* 2 21 4 6 4 5 4 1 8 3 2 1 8 Year I 304 2 284 2 319 6 32 199 29 105 64 4 7 3 4 194 29 102 go 3 ? 8 4 210 5 31 3 113 3 65 9 20 2 11 6 61 24 23 13 12 6 2 8 6 2 50 22 22 5 4 3 9 0 5 6 IV 8 1 5 4 7 7 3 19 7 9 5 4 5 9 3 3 20 4 —2 3 41 22 18 14 4 3 9 2 5 2 3 9 2 19' 7 59 24 24 10 9 I 8 7 8 3 0 g 2 2 ]_( lt —2 7 9 8 6 3 3 5 5( 3£ 3^ 3] 21 1 2] 51 30 27 24 3 3 3 Year 7 5 9 1 5.7 2 4 21 7 * BUSINESS STATISTICS Wontki X HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1951 Statistical Supplement to the SURVEY OF CURRENT BUSINESS. That volume (price $1.50) contains monthly data for the years 1947 to 1950, 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 1947. Series added or revised since publication of the 1951 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 and dollar values refer to adjustment of monthly figures for seasonal variation. Monthly averages for 1951 are shown in the March 1952 Survey of Current Business. series will be found in the Weekly Supplement to the Survey. Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey Data subsequent to May 1952 for selected 1951 May June July 1952 September August October November December January February March May April GENERAL BUSINESS INDICATORS NATIONAL INCOME AND PRODUCT f Seasonally adjusted quarterly totals at annual rates: National income, total bil. of doL_ Compensation of employees, total do \\r<i°'es and salaries total do Private do Military do Government civilian do Supplements to wages and salaries do Proprietors' and rental income total cf do Business and professionalcf do Karm do Rental income of persons do Corporate profits and inventory valuation adiustment total bil of dol Corporate profits before tax, total do Corporate profits tax liability do Corporate profits after tax do Net interest r 274. 8 ' 178. 2 169. 3 '141.2 '8.5 r 19.6 r 9.0 T 49.0 'r 26. 0 14.4 r 8. 5 '41.2 43. 3 24. 5 18 8 r —2. 1 r 6. 4 r 329 3 ' 204. 5 ' 26. 3 r 111 3 r 66. 9 r 65. 2 r 23. 5 T 25. 4 r 16 3 r —.2 Gross national product total do Personal consumption expenditures total do Durable goods do Nondurable Roods 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 and local do Personal income total Less' Personal tax and nontax payments Equals' Disposable personal income Personal saving § ! r r r do T 59.8 42.5 '39.5 '22.2 ' 17.3 '3 0 r 6. 6 '6.7 ' 337. 1 ' 210. 5 ' 25 3 '116.2 '69.0 '52.9 '22.4 '24.7 '5.8 '2.6 '339 4 ' 213. 2 ' 25 2 ' 118 0 ' 70.0 '50.0 ' 23. 7 ' 25.7 '6 r 1.9 ' 71.2 '48.9 ' 22. 3 ' 74.4 ' 51. 6 '23 2 262 0 ' 30. 4 ' 231 5 ' 21. 1 ' 263 0 ' 32. 5 '230 5 '17.3 My 0 '67.3 '45.5 '21. 7 21 6 f ' 186. 5 ' 177.4 ' 145 8 9.0 '52.1 '27.3 ' r15.4 9. 4 1 r ' 256. 1 ' 29. 0 ' 227. 1 ' 20. 7 251 9 '28.7 r 223 2 '18.7 do do do do '41.9 ' 38. 6 '21.8 ' 16. 9 '3 2 '6.5 'T 1*1.0 172. 1 T r 330. 9 ' 206. 4 ' 25 5 ' 113. 2 ' 67. 6 ' 56. 2 '22.4 '24.9 '8.9 r 1.1 f 38 oo. 3 o r '9.1 ' 21. 0 8.9 ' 50.8 ' 26. 0 ' 15.8 '9.1 ' 285. 6 ' 1*3. 4 ' 174.3 ' 143. 8 '9.6 ' 20. 9 ' 9. 1 ' 53. 1 ' 26. 6 '17.0 '9.4 ' 280. 2 ..! T i PERSONAL INCOME, BY SOURCEf Seasonally adjusted, at annual rates: Total personal income bil of dol Wage and salary disbursements, total do Commodity-producing industries. do _ Distributive industries do Service industries do Government, ... _ _ ... do Wage and salary receipts, total 9 do ... Other labor income do __. Proprietors' and rental income _ _do Personal interest income and dividends.. do Transfer pavments do Less personal contributions for social insurance© bil. of dol.. Total nonagricultural income do__. 'r 251. 4 168.9 75.1 45. 5 20.3 28.0 M65.3 '4.2 49.0 20.3 12 6 T ' 254. 3 '171.6 ' 75. 4 ' 47. 0 '20.4 28.8 r 168. 2 r 4.2 '48.8 '20.4 '12.7 'r 254. 5 170. 7 75. 0 46. 3 20.4 29.0 '167.3 '4.2 50.1 20.4 12.5 ' 256. 7 r 171.2 '74.8 * 46. 5 ' 20. 4 ' 29. 5 ' 167. 9 '4.2 '51.5 '20.5 '12.6 '3.6 '3.4 '3.4 '3.3 232. 5 ' 235. 4 ••234.0 '235.5 'r 257. 3 172. 1 r 46. ,'i ' 20. 4 ' 29. 7 ' 168. 8 ••4.2 '50.9 '21.0 ' 12. 4 '3.3 ' 236. 4 '261.7 r 1 74. 0 '75.9 'r 46. 5 20. 7 f 30. 9 ' 170.5 '4.3 '53.4 20.8 '12.7 ' 3. 5 ' 239. 1 ' 260. 9 M74.8 75.8 46.5 20. 8 31.7 r 171.3 '4.2 52. 5 20.5 12.4 '3.5 ' 239. 5 ' 263. 4 ' 176.0 46. 7 20.8 31.0 '172.fi r 4. 3 53. 3 21.1 12.1 ' 263. 4 ' 176.7 77.3 47.1 20.8 31.5 ' 173. 1 '4.3 53. 4 20.1 12.8 ' 263. 5 ' 178. 0 '78.2 '47.1 20.9 '31.8 '174.5 '4.3 '52.1 ' 20. 5 '12.4 ' 3. 4 '3.9 '3.8 ' 240. 7 ' 241. 7 ' 243. 4 ' 261. 9 r 177. 3 '47^0 20.8 '31.8 '173.9 r4 v ' 50! 7 '21.0 '12.4 '3.S ' 242. 7 ' 262. 5 '176.7 ' 76. 9 ' 47. 0 21.0 '31.8 '173.4 '4.4 '51.2 ' 21 . 5 '12.3 263.4 177. 1 76.2 47.4 21. 3 32.2 173.8 4.4 51. 5 21. 5 12.5 '3.6 3.6 ' 242. 9 243. 9 NEW PLANT AND EQUIPMENT EXPENDITURES All industries, quarterly total! Manufacturing \ Mining Railroad Other transportation. _ _ . _ Electric and gas utilities __ Commercial and miscellaneous mil. of dol do do . _ do _ do ._ do do 5,913 5,844 6,672 i 6, 356 5, 552 | 3 335 2,802 2,841 i 3, 251 2,742 ! j ! 911 203 199 188 i 217 27ft 412 377 449 i 406 134 136 120 130 : i 161 ~~ I 893 933 761 998 i 934 ! 1,467 1,374 -. _ ' 1, 549 1,351 i 1, 387 •Revised. i Estimates for April-June based on anticipated capital expenditures of business; those for July-September are shown on p. 7 of the June 1952 SURVEY. tRcvised series. Quarterly estimates of national income and product and quarterly and monthly estimates of personal income have been revised beginning 1949; see pp. 29-31 of this SURVEY for the data. (^Includes inventory valuation adjustment. §Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above. 9 Derived by deducting employee contributions for social insurance from total wage and salary disbursements. O Data through 1951 represent employee contributions only; thereafter, personal contributions of self-employed persons are also included. J Re vised beginning 1945. For revised annual data for 1945-51, see p. 5 of the January 1952 SURVEY; and for quarterly data beginning 1947 for manufacturing, p. 20 of the December 1951 issue. S-l