View PDF

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

SUKVEY OF CURRENT BUSINESS

December 1973

NATIONAL INCOME AND PRODUCT TABLES
1973

1972
1971

1972

11

III

IV

I

II

1972

III

1971

1972

II

III

1973

I

IV

II

III

Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

Billions of 1958 dollars

Billions of current dollars

Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
Gross national product

,166.5 1,199.2 1,242.5 1,272.0 1,304.5

745.4

790.7

785.6

796.7

812.3

829.3

834.3

841.3

752.6

779.4

795.6

816.0

496.3

526.8

523.4

531.0

540.5

552.7

553.3

558.1

120.2
302.3
311.6

122.9
310.7
319.0

132.2
322.2
325.0

132.8
330.3
332.6

132.8
341.6
341.6

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

115.4
230.2
212.5

174.7

181.5

189.4

194.5

198.2

202.0

110.3

122.9

121.0

124.8

129.1

130.2

130.2

130.8

169.2

172.9

181.2

189.9

193.7

197.3

105.0

118.3

116.7

118.2

122.8

126.9

126.9

127.7

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

138.0
49.5

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

93.2
25.2
68.0

42.7
42.2

54.0
53.5

52.8
52.3
.5

54.5
53.9

56.9
56.4
.5

59.0
58.4

59.6
59.1
.5

59.2
58.6

29.0
28.6
.4

34.6
34.2
.4

34.2
33.9

34.7
34.3
.4

35.3
35.0
.3

35.6
35.3
.4

35.3
35.0
.3

34.5
34.2
.4

6.1
4.5
1.6

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

4.7
3.2
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

3.0
2.3
.7

-4.6

-3.5

.0

2.8

7.6

.4

-2.0

-2.8

2.0

5.6

7.4

54.1
56.8

56.6
57.5

59.6
60.3

65.3
63.3

66.6
61.1

67.4
60.0

,055.5

Personal consumption expenditures..

,155.2 1,142.4

Fixed investment
Nonresidential
Structures
_
Producers' durable equipmentResidential structures.
Nonfarm
Farm
Change in business inventoriesNonfarm
Farm

719.2

734.1

117.4
299.9
309.2

115.1
297.9
306.2

153.2

178.3

147.1

Gross private domestic investment.

726.5

103.6
278.7
284.9

Durable goods
Nondurable goods.
Services

667.2

172.3

104.4
37.9
66.5

Net exports of goods and services

State and local.

-3.8

73.5
78.1

69.9
75.6

74.0
77.7

79.7
83.2

89.7
89.7

97.2
94.4

104.5
97.0

52.7
52.4

56.4
58.4

234.3

255.0

254.2

254.7

260.7

268.6

275.3

279.0

138.4

143.0

144.0

141.8

143.5

144.4

145.2

145.0

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

106.8
74.2
32.7

60.9

60.8

62.9

58.8

58.6

58.2

58.2

57.2

136.2

Federal
National defenseOther

-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

172.2

77.5

82.2

81.1

83.0

85.0

86.2

87.0

87.8

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 1,304.5

745.4

790.7

785.6

796.7

812.3

829.3

834.3

841.3

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, 299.8
6.1
8.2
6.0
5.5
8.7
4.5
4.6
4.7

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

838.3
3.0

396.1

423.9

421.5

428.4

438.4

452.1

453.9

456.8

390.8
5.3

419.3
4.6

417.2
4.3

421.7
6.6

432.1
6.3

448.7
3.3

450.5
3.4

453.7
3.0

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

208.1
202.4
5.7

497.1

541.4

536.4

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.

548.6

563.6

589.6

604.2

622.3

555.4
8.2

585.0
4.6

599.6
4.5

214.6
211.4
3.2

539.9
8.7
222.6
216.8
5.8

233.2
222.8
10.4

242.5
238.1
4.4

249.7
242.4
7.3

617.6
4.7
254.3
246.2
8.0

322.3
321.2
1.1

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

368.0
371.4
-3.4

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

248.7
251.3
-2.6

487.3
126.5

481.5
124.4

491.8
126.2

503.9
131.7

514.8
138.1

527.7
140.1

540.8
141.4

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

308.6
76.0

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national productPrivate
Business
Nonfarm.
Farm
Households and institutions.
Rest of the world
General government..
Federal
State and local

1,055.5 1,155.2 1,142.4 1,166.5 1,199.2 1,242.5 1,272.0 1,304.5

745.4

790.7

785.6

796.7

812.3

829.3

834.3

841.3

930.3 1,019.7 1,008.6 1,030.0 1,060.0 1,098.9 1,126.2 1,156.3

684.7

729.5

725.0

735.3

750.3

767.1

772.0

778.8

984.9 1, 013.6 1,050.5 1,076. 8 1,105.2
951.0
976.9 1,008. 9 1,033.5 1,056. 2
43.3
33.9
41.6
49.0
36.7

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

39.3
9.1

40.5
8.9

41.8
9.3

16.8
5.6

17.4
5.5

17.4
5.0

17.5
5.5

17.4
6.2

18.0
6.3

18.2
5.5

754.7
733.6
21.2
18.5
5.4

143.5
52.5
91.1

145.8
52.2
93.6

148.2
52.3
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

889.9
859.4
30.4

975.4
941.0
34.4

965.2
931.3
33.9

33.5
7.0

36.8
7.5

36.6
6.8

37.5
7.6

125.1
47.6
77.6

135.4
50.3
85.1

133.8
50.0
83.8

136.5
50.2
86.4

37.8
8.7
139.2
50.5
88.7

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

XHE 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 1970and descriptive notes a r e a s shown in
the 1971 edition of B U S I N E S S S T A T I S T I C S

1971

1970

1972

III

Annual total

1971
IV

I

II

1972

III

|

IV

I

II

1973
III

|

IV

I

II

III

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

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

816.0

Durable goods, total9
do...
Automobiles and parts..
do...
Furniture and household equipment...do...
Nondurable goods, total9
do...
Clothing and shoes
do
Food and beverages
do
Gasoline and oil
do
Services, total9
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..
By major type of product: t
Final sales, total
do
Goods, total
do
Durable goods
do
Nondurable goods
do
Services
do
Structures
do
Change in business inventories
do
Durable goods
do
Nondurable goods
do

91.3
37.3
39.6

103.6
46.6
42.1

117.4
52.8
48.1

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

132.8
59.7
54.4

132.8
59.2
55.0

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

288.8
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

341.6
70.3
164.3
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
22.8

332.6
47.1
113.3
23.2

341.6
48.7
115.8
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

194.5

198.2

202.0

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
7.9

189.9
130.9
45.3
85.5
59.0
58.4
4.6
4.4

193.7
134.1
47.2
86.9
59.6
59.1
4.5
4.4

197.3
138.0
49.5
88.6
59.2
58.6
4.7
3.2

3.6
62.9
59.3

.8
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
66.6

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

-3.5
79.7
83.2

.0
89.7
89.7

2.8
97.2
94.4

7.6
104.5
97.0

219.5
96.2
74.6
123.3

234.3
98.1
71.6
136.2

255.0
104.4
74.4
150.5

220.3
94.7
73.2
125.6

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

279.0
106.8
74.2
172.2

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

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

6.0
5.2
.8

5.1
-1.1
6.2

Gross national product, totalf

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 1,304.5

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

8.2
10.4
-2.2

1,237.8 1,267.5 1,299.8
617.6
599.6
585.0
246.2
242.4
238.1
371.4
357.3
346.9
540.8
527.7
514.8
141.4
140.1
138.1
4.6
4.4
.3

4.5
7.3
-2.8

4.7
8.0
-3.4

GNP in constant (1958) dollarsf
722.5

745.4

790.7

727.2

719.3

735.1

740.4

746.9

759.0

768.0

785.6

796.7

812.3

829.3

834.3

841.3

Personal consumption expenditures, total.-do
Durable goods
do.
Nondurable goods
do..
Services
do..

477.5

496.3

526.8

480.9

477.5

489.5

493.6

498.0

504.1

512.5

523.4

531.0

540.5

552.7

553.3

558.1

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

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

117.0
228.8
207.0

116.2
228.0
209.1

115.4
230.2
212.5

Gross private domestic investment, total...do
Fixed investment
do.
Nonresidential
do.
Residential structures
do^___
Change in business inventories
do

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

130.8

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

127.7
93.2

Gross national product, totalf

bil.$..

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

2.3

.4

-2.0

3.0

2.0

2.4

Govt. purchases of goods and services, total, do
143.0
139.3
138.4
138.0
137.8
Federal
do.
60.8
64.3
60.9
62.4
61.8
State and local
do.
82.2
75.0
77.5
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. 14 ff. of the July 1973 SURVEY);
Digitized revisions prior to May 1972 for personal income appear on pp. 27-28 of the July 1973 SURVEY.
for FRASER


136.7
60.1
76.6

Net exports of goods and services

do

100.7
74.8
25.9
5.8

103.8
75.5
28.3
6.5
-.2

136.7
59.9
76.8

105.5
75.6
29.9
4.0

110.1
78.4
31.7
4.7

115.4
81.5
34.0
1.1

.8

-1.6

-3.7

-2.8

-.9

-.8

138.6
61.1
77.5

141.6
62.5
79.1

142.7
63.0
79.7

144.0
62.9
81.1

141.8
58.8
83.0

143.5
58.6
85.0

34.5
3.0

2.0

5.6

7.4

144.4
58.2
86.2

145.2
58.2
87.0

145.0
57.2
87.8

9 Includes data not shown separately.

S-l

V BV SJLJNii

SU1 iVEY O F (JUKJ

S-2
Unless otherwise stated i n footnotes below, data
through 1970 a n d descriptive notes a r e as shown in
the 1971 edition of B U S I N E S S S T A T I S T I C S

1970

1971

1971

1972

Annual total

December 1973

II

I

1972

in

IV

I

II

1973

III

1974

in

I

II

978.6

,015.0

1,038.2

731.2

757.4

774.9

794.0

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

699.3
553.2
20.4
125.7
94.7
85.0
57.9
27.1
25.3

IV

IV

I

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT—Con.
Quarterly Data Seasonally Adjusted at Annual

Rates

National income, totalf
bil. $..
Compensation of employees, totalf
do.
Wages and salaries, total
_.do
Private
do....
Military
do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' income, total?
do
Business and professional9
...do
Farm
do
Rental income of persons
do—
Corporate profits and inventory valuation adjustment, total
bil. $..
By broad industry groups:
Financial institutions
do
Nonflnancial 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

800.5

859.4
644.1

941.8
707.1

835.9
627.6

853.6
638.8

865.6
648.8

882.7
661.2

911.0

949.2

684.3

699.6

632.5
497.5
20.0
115.1
80.5
74.1
54.3
19.8

713.1

1,067.4

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

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

69.2

80.1

91.1

76.8

80.5

80.9

83.4

86.2

88.0

91.5

104.3

107.9

' 112. 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
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

21.4
86.5
52.4
23.9
28.5

22.3
' 89.7
51.9
25.3
26.6

7.8
20.1

8.6
23.9

9.3
24.2

8.2
21.8

9.1
23.9

9.1
24.1

7.9
25.7

8.5
23.8

23.1

9.8
24.1

25.7

9.2
25.6

8.5
25.6

10.3
27.5

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

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

' 129.0
'•57.6
71.5
28.1
' 43.4
-17.0
51.1

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

808.3
116.6
691.7
635.5
66.2

863.5
117.5
746.0
685.8
60.2

939.2
142.2
797.0
747.2
49.7

840.0
112.6
727.4
668.3
59.2

859.5
115.5
74^.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
62.9

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

1,019.0
149.3
869.7
818.7
51.0

1,047.1
156.0
891.1
840.1
51.1

79.71
31.95
15.80
16.15

81.21
29.99
14.15
15.84

88.44
31.35
15.64
15.72

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

21.50
7.80
3.92
3.88

24.73
9.16
4.65
4.51

• 25. 04
'9.62
'4.84
'4.78

i 28. 81
11.42
'5.97
'5.45

i 24.19
9.43
4.87
4.56

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
Manufacturing
Durable goods industries 5- Nondurable goods industries I
f

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

10.99

13.06
.54
.47
.60

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

4.74
4.01
.73
3.39
5.57

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

' 15. 42
'.69
'.48
' .57
'.44
'4.82
'4.04
'.77
3.19
'5.24

17. 39
'.73
'.54
'.60
'.41
'5.74
'4.85

14.76
.70
.54
.51
.38
4.65
4.14
.52

3.94

3.20
.63
2.81
4.44

14.35
.59
.45
.56
.37
4.29
3.60
.69
2.84
5.26

15.57

.49
.34
.34
.28

12.83
.55
.42
.39
.37
4.07
3.35
.71
2.62
4.42

15.83

2.42
1.80
2.46
1.46
17.00
14.48
2.52
11.89
20.07

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

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

96.19
35.51
17.88
17.63

97.76
36.58
18.64
17.94

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

48.86

51.50
2.08
1.88
2.28
1.40
14.91
12.61
2.30
11.21
17. 72

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
1.88
2.89
1.53
16.60
14.32
2.27
11.59
19.88

56.70
2.40
1.50
2.67
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

61.18

2.04
1.46
1.29
1.33
14.64
12.16
2.48
10.70
17.39

2.59
2.11
2. 21
1.53
18.38
15.40
2.98
12.34
21.53

2.77
1.75
2.72
1.62
18.08
15.55
2.52
12.70
21.55

16,487
10,872

16,78:
10,791

17,282
11,522

17,465
11.53S

18,49
12,36i

507

48£

24.9

648.7
510.9
20.1
117.7
82.5
77.1
55.3
21.8
24.9

Quarterly Data Seasonally Adjusted at Annual Rates

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

3.11
2.70
.41
2.50

.63
.47
.63
.40

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

'
'
'
'

100.90
38. 81
19. 73
19. 08
62.09
'2.82
'1.95
'2.49
'1.79

'2 9.37

27.?

1104.94 1 108.16
' 40. 54
42.92
' 20. 94
22.21
' 19. 60
20.71
65.24
' 64.40

'2.85
'1.98
'2.22
'1.53
' 18. 58 r 21. 20
' 16. 00 ' 17. 84
'3.35
'2.58

2.90
2.43
2.16
1.74
21.57
18.49
3.08

13.12
' 21. 36 '2 34. 63

2 34. 43

U.S. BALANCE OF INTERNATIONAL
PAYMENTScf
Quarterly Data Are Seasonally

Adjusted

(Credits -f; 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
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

62,919
41,964

66,287
42,768

73,462
48,769

1,478

1,912

1,166

11,426
8,052
-59,289
-39,788
-4,852
-5,167
-9,684

12,899
8,710

13,925
9,60:

49!

3,315
2,168

2,128

-65,480 -78,071 -15,533 -16,650
-45,466 -55,681 -10,743 -11,708
-4,829 -4,724 -1,175 -1,214
-4,927 -6,063
-10,258 -11,604

-1,160
-2,455

-1,135
-2,593

954
3,630!
807 -4,610
Balance on goods and services, total
do.
129
2,176! -2,698 -8,912
Merchandise, adjusted, excl. military
dor
Revised.
» Preliminary.
i Estimates (corrected for systematic biases) for Oct.Dec. and Jan.-Mar. 1974 based on expected capital expenditures of business. Expected expend
2
itures for the year 1973 appear on p. 13 of the December 1973 SURVEY.
Includes comhttp://fraser.stlouisfed.org/ corresponding note on p. S-1.
munication,
f See
9 Includes inventory valuation adjustment, Bank of St. Louis fiomnrisfiiwsonal consumDtion expenditures, interest paid by
ffi Personal ontlavs
Federal Reserve

3,035
2,23:

-17,002
-11,907
-1,204
-1,295
-2,59*
280
-385

15,73?
9,585

17,587
1165

26:

328

19,921 22,611 ' 24,376 26,199
13,213 15,320 ' 16,778 v 18,153
28:

343

'455

• 4,311
3,27C
3,31
3,55'
• 2, 832
2,366
2,18C
2,29C
-16,29' -18,96: -18,88? -19,43C -20,79 -22,46: -23,702
-11,10? -13,47! -13,31 -13,93^ -14,95! -16,28( •-17,022
-1,10* -1,15 -1,168 -1,18£
-l,23r
-1,22: -1,242
-1,526 -1,634 -1,849 -2,20C
-1,425 -1,47
,3
-2,61'
-2,841 -2,85E -2,861 -3,048 -3,164 - 3 , 2 "
3,47(
2,39:

-560
-1,52

-1,374
-1,82

-1,426
-1,77

-939
-1,57

3,866
2,555

-87(
-1,741

4,158
2,790

150
-960

' 674
'— 244

v 4,636
v 2,876
v—24,051
p—17,439
v—1,110
p-2,325
p-3,177
v 2,148
714

consumers, and personal transfer payments to foreigners.
§ Personal saving is excess of disposable income over personal outlays.
liData for individual durable and nondurable goods industries components appear in tne
ar., June, Sept., and Dec. issues of the SURVEY.
cPMore complete details appear in tne
Ma;
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