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SUEVEY OF CUEEENT BUSINESS May 1953 Table 1.—National Income and Product 1952 and First Quarter 1953 1 [Billions of dollars] Seasonally adjusted at annual rates Unadjusted 1952 1952 Item I II III IV 1953 1952 1953 I I II III IV I (2) 288.0 285.6 287.7 300.2 (2) 186.9 177.8 145.6 10.2 21.9 9.2 190.3 181.0 148.3 10.4 22.4 9.3 197.9 188.2 155.3 (22) () 9.6 201.6 191.8 158.7 (22) () 9.8 NATIONAL INCOME BY DISTRIBUTIVE SHARES 290.4 National income 70.6 71.3 72.3 76.1 190.4 181.1 148.7 (22) () 9.2 45.9 43.5 35.5 2.5 5.5 2.4 46.6 44.3 36.1 2.6 5.6 2.4 47.7 45.4 37.6 2.6 5.2 2.3 50.1 47.9 39.5 2 (2) () 2.2 49.7 47.1 38.7 2 (2) () 2.6 186.5 177.4 145.8 10.0 21.7 9.0 Proprietors' and rental incomp 3 Business and professional Farm Rental income of persons 52.5 27.6 15.2 9.6 13.0 6.8 3.8 2.3 13.0 6.9 3.7 2.4 13.1 6.9 3.8 2.4 13.4 7.0 3.9 2.5 13.4 7.1 3.7 2.5 52.1 27.3 15.4 9.4 51.9 27.6 14.8 9.5 52.5 27.5 15.2 9.8 53.6 28.2 15.5 10.0 53.6 28.6 14.9 10.1 Corporate profits and inventory valuation adjustment r,nrpr>ratft profits before tav Corporate profits tax liability Corporate profits after tax Inventory valuation adjustment 40.5 39.7 21.8 17.9 .8 10.0 10.0 5.5 4.5 .0 10.0 9.6 5.3 4.3 .4 9.7 9.5 5.2 4.3 .1 10.8 10.5 5.8 4.7 .3 8 8 -i 42.7 42.7 23.4 19.3 39.9 38. 2 21.0 17.2 1.7 37.8 37.2 20.4 16.8 .6 41.5 40.3 22.1 18.2 1.2 (22) ( 2) (2) () -.5 Net, interest Addendum: Compensation of general government employees 7.0 30.7 1.7 7.6 1.7 7.7 1.8 7.4 1.8 8.0 1.8 8.0 6.7 30.0 6.9 30.5 7.1 31.1 7.2 31.3 7.4 31.3 Compensation of employpps Wages and salaries Private Military Government civilian Supplements to wages and sal an' PS GROSS NATIONAL PRODUCT OR EXPENDITURE Gross national product Personal consumption expenditures Dnrahlp goods Nondurable goods Services Gross private domestic investment New construction Residential nonfarm Ot.hp.r 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 spcnrity Other Less! Government sales State and lonal 346.1 83.4 83.3 85.2 94.2 89.2 339.7 342.6 343.0 359.0 361.0 216.3 25.8 119.0 71.5 50.5 5.5 27.4 17.7 53.2 6.4 29.1 17.8 52.8 6.0 29.0 17.8 59.7 7.9 33.6 18.2 53.7 6.6 28.3 18.8 213.2 25.2 118.0 70.0 214.9 26.4 117.8 70.8 215.0 24.2 118.9 71.9 222.0 27.3 121.4 73.3 226.2 29.8 121.7 74.6 52.1 23.5 11.1 12.4 25.5 3.1 2.4 14.1 5.0 2.2 2.8 6.4 2.7 2.5 10.2 5.9 2.8 3.1 6.6 -2.3 -2.5 13.4 6.5 3.1 3.4 5.9 .9 .8 14.4 6.1 3.0 3.1 6.6 1.7 1.5 15.9 5.3 2.4 2.9 7.0 3.6 3.4 50.0 23.7 11.0 12.7 25.7 .6 -.1 49.3 23.6 11.0 12.6 25.7 .1 -.8 51.7 23.0 10.9 12.2 25.0 3.7 3.0 57.3 23.7 11.6 12.0 25.6 8.1 7.5 54.4 25.2 12.2 13.0 27.^ .0 .5 .1 -.5 —.1 -.6 2.2 .4 -1.6 -.9 -2.0 77.8 54.4 49.2 46.6 2.6 5.6 .4 23.4 18.2 12.8 11.6 11.0 .6 1.3 .1 5.4 19.7 13.7 12.6 11.8 .8 1.3 .1 6.0 19.6 13.7 12.4 11.7 .7 1.4 .1 5.9 20.3 14.2 12.6 12.1 .5 1.6 .1 6.1 20.2 14.4 12.8 12.2 .6 1.6 .1 5.8 74.4 51.2 46.4 44.0 2.4 5.2 .4 23.2 78.0 54.9 50.3 47.2 3.0 5.1 .4 23.0 77.9 54.8 49.6 46.8 2.8 5.6 .4 23.1 80.6 56.6 50.4 48.4 2.0 6.5 .3 24.0 82.4 57.5 51.2 49.0 2.2 6.5 .3 25.0 268.3 64.4 65.9 67.1 70.9 69.0 263.0 264.4 268.9 277.0 281.3 34.0 30.7 3.3 12.0 11.0 1.0 7.2 6.3 .8 8.0 7.2 .8 6.9 6.2 .7 12.6 11.5 1.0 33.5 30.4 3.2 33.6 30.4 3.2 34.1 30.8 3. 3 34.6 31.3 3.3 35.7 32.3 3.4 234.3 216.3 18.0 52.4 50.5 1.9 58.8 53.2 5.5 59.1 52.8 6.3 64.0 59.7 4.3 56.4 53.7 2.8 229.5 213.2 16.3 230.8 214.9 15.9 234.8 215.0 19.8 242.5 222.0 20.5 245.6 226.2 19.5 346.1 83.4 83.3 85.2 94.2 89.2 339.7 342.6 343.0 359.0 361.0 28.1 27.2 .9 -.2 .1 6.7 6.4 .2 -.4 .1 6.9 6.7 .2 1.8 .0 7.1 6.9 .2 1.3 .0 7.4 7.2 .2 3.3 .0 7.6 6.9 .2 27.7 26.8 .9 1.8 .2 28.3 27.3 .9 1.3 -.2 29.6 28.2 .9 .1 .0 30.4 28.4 .9 (2) 290.4 70.6 71.3 72.3 76.1 288.0 285.6 287.7 300.2 (2) 40.5 8.5 -.1 10.0 2.5 .0 10.0 2.2 .0 9.7 2.1 -.1 10.8 1.8 .0 .o (2) (2)2.7 26.7 26.3 .9 1.6 .5 39.9 8.4 .0 37.8 8.6 -.4 41.5 8.8 .0 (2) .0 42.7 8.5 .1 11.9 5.0 9.1 .9 2.9 1.1 2.1 .2 2.9 1.5 2.2 .2 3.0 1.1 2.1 .2 3.0 1.4 2.7 .2 3.2 1.1 2.2 .2 11.7 5.0 8.9 .9 11.6 5.0 9.6 .9 12.0 5.0 9.3 .9 12.2 5.0 9.0 .9 12.8 5.0 9.1 .9 268.3 64.4 65.9 67.1 70.9 69.0 263.0 264.4 268.9 277.0 281.3 £ DISPOSITION OF PERSONAL INCOME Personal income T,ess: Personal tax and nontax payments Federal State and local ^ Equals: Disposable personal income Less: Personal consumption expenditures r Equals: Personal saving „,„ . _ „ „. RELATION OF GROSS NATIONAL PRODUCT, NATIONAL INCOME, AND PERSONAL INCOME Gross national product _ __„ _ __ "Less: Capital consumption allowances Indirect business tax and nontax liability Business transfer paympnts Statistical discrepancy Plus: Subsidies less current surplus of government enterprises Equals: National income Less: Corporate profits and inventory valuation adjustment Contributions for social insurance Excess of wage accruals over disbursements Plus; Government transfer payments Ne.t interest paid by govp.rnment Dividends Business transfer paympnts T , „.,„., Equals: Personal income 1 2 Detail will not necessarily add to totals because of rounding. Not available. W 3 Includes noncorporate inventory valuation adjustment. Source: U. S. Department of Commerce, Office of Business Economics. 9.0 .0 BUSINESS STATISTICS WlontU. JL HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1951 Statistical Supplement to the SURVEY or 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 (t), 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. Statistics originating in Government agencies are not copyrighted and may be reprinted freely. vided through the courtesy of the compilers, and are subject to their copyrights. Unless otherwise stated, statistics through 1950 and descriptive notes are shown in the 1951 Statistical Supplement to the Survey Data from private sources are pro- 1953 1952 March April May June July August September October November December January February March GENERAL BUSINESS INDICATORS NATIONAL INCOME AND PRODUCT! Seasonally adjusted quarterly totals at annual rates: National income total bil of dol 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, totaled do Business and professionalcf do Farm do Rental income of persons do Corporate profits and inventory valuation adjustment total bil of dol Corporate profits before tax, total do Corporate profits tax liability do Corporate profits after tax do Inventory valuation adjustment do Net interest do Gross 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 National security 9 _ do State and local do Personal income, total Less* Personal tax and nontax payments Equals' Disposable personal income Personal savin g§ do do do do 288.0 186.5 177.4 145 8 10 0 21.7 9.0 52.1 27.3 15.4 9.4 285.6 186.9 177.8 145 6 10.2 21.9 9.2 51.9 27.6 14.8 9.5 42.7 42.7 23.4 19.3 — .1 6.7 '21. 0 «• 17.2 1.7 6.9 T 339.7 213.2 25.2 118.0 70.0 50.0 23.7 25.7 .6 2.2 342.6 214 9 26.4 117.8 70.8 49.3 23.6 25.7 .1 4 343 0 215 0 24 2 118 9 71 9 51 7 23 0 25.0 3 7 —1 6 74.4 51.2 46.4 23.2 78.0 54.9 50.3 23.0 263.0 33.5 229.5 16.3 264. 4 33.6 230. 8 15.9 r r 39.9 38.2 287 190 181 148 7 3 0 3 300 2 197.9 188 2 155 3 201.6 191 8 158 7 9 52 27 15 9 3 5 5 2 8 9 6 53.6 28 2 15 5 10 0 9 8 53. 6 28 6 14 9 10 1 T 37 8 37.2 20 4 16. 8 6 7 1 r 41 5 . _ 40.3 22 1 _ r 18. 2 1 2 7 2 — 5 7. 4 359. 0 222 0 27.3 121 4 73 3 57 3 23 7 25.6 8 1 r 9 361 0 226 2 29 8 121 7 74 6 54 4 25 2 27. 5 1 7 —2 0 77.9 54 8 49. 6 23. 1 80.6 56.6 50.4 24.0 82.4 57 5 51. 2 25 0 268.9 34 1 234.8 19.8 277.0 34 6 242. 5 20 5 r 281 35 245 19 3 7 6 5 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 do Other labor income do Proprietors' and rental income do_ Personal interest income and dividends.. _do Transfer payments _ ___ _ _ . _ __do_ __ Less personal contributions for social insurance O bil. ofdoLTotal nonagricultural income do___ 261.9 177.3 77.7 47.0 20.8 31.8 173.9 4.3 50.7 21.0 12.4 262.5 176.7 76.9 47.0 21.0 31.8 173. 4 4.4 51.2 21.5 12.3 264.5 177.9 76.7 47.7 21.3 32.2 174.6 4.4 51.7 21.5 12.6 266. 7 179.3 77.2 48.5 21.3 32.3 175 8 4 5 52.8 21.4 12.5 263.9 177.4 74.0 49.3 21.5 32.6 173.9 4.5 52.2 21.3 12.4 269. 6 182.5 78.7 49.4 21.5 32.9 179.0 4 5 51.8 21.4 13.1 273 8 185.3 81.6 49.3 21 6 32.8 181 9 4 5 53 4 21.4 12.9 276 1 187.5 82.9 49 9 21 8 32 9 184 0 4 6 53 5 21.3 13 0 275.8 187.9 83.5 49 6 21 9 32 9 184 4 4 6 52 9 21.3 12 8 280 0 189.9 85.4 50 0 21 9 32 8 186 4 4 7 54 6 21.2 13 4 280 6 190.3 85.2 50 1 22 1 32 9 186 5 4 7 54 6 21.4 13 6 r 2^0 9 M91.8 «• 86. 2 50 3 r 22 2 r 33 1 r 188 2 4 7 r 53 3 21.5 13 4 282 5 193. 2 87.1 50 4 22 5 33 2 189 6 4 7 53 Q 21.7 13 8 3.8 3.6 3.6 3.8 3.9 3.7 3.7 3.8 3.7 3.8 4.0 3.8 3.9 242.7 242.9 244.9 245.9 243.4 249.4 253 0 255 4 255 7 258 8 259 5 r 261 1 262 8 NEW PLANT AND EQUIPMENT EXPENDITURES}: i 6 54^ 6, 141 6,808 All industries, quarterly total _ . mil. ofdoL. 6 244 7 265 2, 650 Manufacturing do 3, 1 56 2 820 i 3 Q28 3 367 1 008 217 Mining do 228 206 229 i 335 360 386 Railroads do 289 357 372 Transportation, other than rail _ _ _ d o _ _. 356 302 i 304 335 947 821 928 Public utilities do i ] Q30 1 142 1 Commercial and other do 1,737 1, 738 1, 680 L835 1, 636 r Revised. * Estimates for January-March 1953 based on anticipated capital expenditures of business. t Revised 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 the July 1952 SURVEY for the data. (^Includes inventory valuation adjustment. 9 Government sales are not deducted. § Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above. OData through 1951 represent employee contributions only: thereafter, personal contributions of self-employed persons are also included. ^Revised beginning 1939. Revisions for 1939 and 1945-50 appear on pp. 20 and 21 of the August 1952 SURVEY; those for 1951, on'p. 9 of the March 1953 issue. S-l
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