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SUEVEY OF CURRENT BUSINESS

January 1974

NATIONAL INCOME AND PRODUCT TABLES
1972
1972

1973 p

III

1972

1973

IV

I

III

II

IV P

1972

1973 *

III

1973

IV

Seasonally adjusted at annual rates

I

II

IV P

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

1, 155. 2 1,288.2 1,166.5 1, 199. 2 1, 242. 5 1, 272. 0 1,304.5 1,334.0

Personal consumption expenditures

837.3

796.7

812.3

829.3

834.3

841.3

844.1

726 5

Nonresidential
Structures
_
Producers' durable equipment
Residential structures _
N on farm
Farm

__

_
_ _

795.6

816 0

829. 0

526.8

554.7

531.0

540.5

552. 7

553.3

558.1

554.5

132.2
322.2
325.0

132.8
330.3
332.6

132 8
341.6
341.6

126 8
351.1
351.2

104.0
220.9
201.8

114.6
229.2
210.9

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

109. 7
229.6
215.2

201.5

181.5

189 4

194.5

198.2

202 0

211.2

122.9

131.7

124.8

129.1

130.2

130.2

130.8

135.7

194 0

172 9

181 2

189 9

193 7

197 3

195 3

118 3

126 6

118.2

122.8

126.9

126.9

127.7

124.7

118 2
41. 7
76.5

136 0
48 3
87.7

118 3
41 3
77.0

124 3
43 0
81.2

130 Q
45 3
85.5

134 1
47 2
86.9

138 0
49 5
88.6

141 1
51 1
90.0

83 7
23 0
60 8

92 5
24 8
67.7

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

94.1
26.0
68.2

54 0
53 5

58 0
57 4

54 5
53 9

56 9
56 4

59 0
58 4

59 6
59 1

59 2
58 6

54 2
53 6

34 6
34 2

34 0
33 7

34.7
34 3

35.3
35 0

35.6
35 3

35.3
35 0

34.5
34 2

30.6
30 2

7 4
6 7

8 7
8 4

8 2
7 9

4 6
4 4

4 5
4 4

15 9
14 9
10

4 6
4 5

5 2
4 8

6 6

6.2
1

3.3
1

30

o

3.3
3.2
1

34

6.6

6 3

1

4 7
3 2
15

10.9
10.4

4 6

—3 8

35

o

2 g

7 g

8 0

2 0

6 0

— 9

— 8

2 0

56

7 4

9 2

73.5
78 1

101 3
96 7

74 0
77 7

79 7
83 2

89 7
89 7

97 2
94 4

104 5
97 0

113.5
105 6

56 4
58 4

67.3
61 3

56.6
57 5

59.6
60 3

65.3
63 3

66.6
61 1

67.4
60 0

69.8
60 6

255.0

277.2

254 7

260 7

268 6

275 3

279 0

285.8

143 0

144.8

141.8

143.5

144.4

145.2

145.0

144.8

57.2

55.6

87 8

89.2

6

Change in business inventories.
N on farm
Farm

4

Net exports of goods and services
_

779.4

122.9
310.7
319.0

—4 6

Fixed investment

752 6

120 2
302.3
311.6

6 0
5 6

Gross private domestic investment _ __

734 1

131.1
336.3
337.6

178.3

_ _ _ _ _ _ _

805.0

117.4
299.9
309.2

172 3

Durable goods
Nondurable goods
Services

Exports
Imports

790.7

_

_ _

Government purchases of goods and services. _

6

7

6

3

5

3

6

2

5

6

7

4

1

4

4

%

4

.3

.4

.3

Federal. .
National defense
Other

104.4
74.4
30.1

106 9
74.2
32.7

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

107 8
74 0
33.8

60 8

57 3

58 8

58 6

58 2

58.2

State and local

150 5

170 3

152 4

158 0

163 0

168 0

172 2

178 0

82 2

87 5

83 0

85 0

86 2

87 0

.4

.4

2.3
7

5

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
1,155 2 1 288.2 1 166 5 1 199 2 1 242 5 1 272 0 1 304 5 1 334 0

790 7

837 3

796 7

812 3

829.3

834.3

841.3

844.

1 149. 1 1 280 8 1 157 8 1 191 0 1 237 8 1 267 5 1 299 8 1 318 1
6.0
7.4
15 9
8 2
4 6
45
8 7
4 7

Gross national product
Final sales
__ _
Change in business inventories

786 1
4 6

832 1
5 2

790 0

806 0

831.0

838.3

833.

6.6

6.3

826.0

3.0

10.

3.3

3.4

541 4

614 3

548 6

563 6

589 6

604 2

622 3

641 0

423 9

455 9

428 4

438 4

452 1

453 9

456 8

460.

535.4

606 8
7 4

539 9
8 7

555 4
8 2

585 0
4 6

599 6
4 5

617 6
4 7

625 1
15 9

419 3
4 6

450 7
5 2

421 7

432.1

449.

6.3

3.3

3.4

453.7

6.6

448.7

450.5

6.0

3.0

10.

Durable goods
Final sales
Change in business inventories

219. 1
214 i
4 9

249 2
242 1
7 0

922 6
216 8
5 8

233 2
222 8
10 4

242 5
238 1
4 4

249 7
242 4
7 3

254 3

184 1
180 2
3 9

205 6
200 5
51

186 2
181 8
4 4

196 3
188 0

203.4
200 3

207. 1
201 8

208.1
202 4

203.
197.

80

250 2
241 8
8 4

5.7

6.

Nondurable goods
Final sales
Change in business inventories.

322 3
321 2
1. 1

365 1
364 7

326 0
323 1

347 2
346 9

.3

354 5
357 3
—2 8

368 0
371 4
—3 4

390 8
383 4
7 5

239 8
239 1
.7

250 3
250 2
.1

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

257.
252.

2*9

330 3
332 5
—2.2

487 3
126 5

534 3
139 6

491 8
126 2

503 9
131 7

514 8
138 1

527 7
140 1

540 8
141 4

554 1
138 9

292 6
74 2

305 9
75 5

294 5
73*8

298 8
75 1

300.6
76.7

304.1
76.3

308.6
76.0

310.

Goods output
Final sales
Change in business inventories.

Services.
Structures

_

. .

.4

946 9

82

3.2

5.4

4.

73.

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
1 155 2 1 288 2 1 166 5 1 199 2 1 242 5 1 272 0 1 304 5 1 334 0

Business
_
Nonfarm..
Farm

_

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

__.

790 7

837 3

796 7

812 3

829.3

834.3

841.3

844.

1 019 7 1 140 7 1 030 0 1 060 0 1 098 9 1 126 2 1 156 3 1 181 5

Gross national product
Private.

729 5

774 8

735 3

750.3

767.1

772.0

778.8

781.

706 6
682 0
24 6

750 9
727 7
23 2

719 3
688 7
23 6

726 8
702.5
24 2

742.9
718. 1
24.8

748.3
725.9
22.4

754.7
733.6
21.2

757.
733.

975 4 1 090 3
941 0 1 042 7
34 4
47 6

984 9 1 013 6 1 050 5 1 076 8 1 105 2 1 128 8
951 0
976 9 1 008 9 1 033 5 1 056 2 1 072 2
33 9
36 7
41 6
43 3
49 0
56 6

41 1
9 3

37 5
7 6

37 8
8 7

39 3
9 1

40 5
89

41 8
9 3

43 0
9 7

17 4
5 5

18 3
5 6

17.5
55

17.4
6 2

18.0

18.2

18.5

5.4

18.
5.

135 4
50.3
85 1

147 5
52 8
94 g

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 3
96 0

152 5
54 1
98 4

61 1
21 8
39 3

62 5
21 3
41 1

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

62.
21.
41.

6.3

5.5

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. BEA will provide on request a reprint of the fully revised data for the years 1964-69.
* Preliminary.




24.

36 8
7 5

CURRENT BUSINESS STATISTICS

J.HE 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.
1970

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

1972

1971

1970
IV

Annual total

1971
I

II

1972

III

IV

I

II

1973

| III

IV

I

III

II

IV P I

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
1,166.5

1,199.2 1,242.5 1,272.0 1,304.5 1, 334, 0

726.5

628.3

650.0

662.2

673.0

683.4

700.2

719.2

734.1

752.6

779.4

795.6

816.0

829.0

91.3

37.3
39.6

103.6
46.6
42.1

117.4
52.8
48.1

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

132.8
59.2
55.0

126.8
52.1
55.8

do__ .
do
do _

263.8
52 8
130.0
22.2

278.7
57 0
136.6
23.5

299.9
62 3
145.3
25.5

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

351.1
71.2
169.0
30.2

do _
do
do
do

262.6
36 4
90.9
18.3

284.9
39 7
98.5
20.4

309.2
43 8
105.5
21.8

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

351.2
49.7
118.4
24.2

Durable goods total 9
_ ..do _
Automobiles and parts . ...
do__
Furniture and household equipment.. .do
-

Services total 9
Household operation
Housing
Transportation

1,046.9 1,063.5 1,084.2

1, 155. 2

667.2

bil.$

Personal consumption expenditures, total.. do

Nondurable goods total 9
Clothing and shoes
Food and beverages

977.1

1,055.5

Gross national product totalf -

.

617.6

991.8 1,027.2

1,112.5 1,142.4

do .

136 3

153.2

178.3

137.4

145.5

152.7

153.8

160.8

167.5

174.7

181.5

189.4

194.5

198.2

202.0

211.2

do
do ...
do
do
do
do
do
do

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

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

195.3
141.1
51.1
90.0
54.2
53.6
15.9
14.9

do
do.. _
do

36
62 9
59.3

8
66.3
65<5

—4.6
73.5
78.1

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
1&4.5
97.0

8.0
113.5
105.6

Govt. purchases of goods and services, total .do
Federal
do
National defense
do. ._
State and local
- -do

219.5
96.2
74 6
123 3

234.3
98.1
71.6
136.2

255.0
104.4
74.4
150.5

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

285.8
107.8
74.0
178.0

By major type of product:!
Final sales total
Goods total
.
Durable goods
Nondurable goods
Services
. ._
.
Structures

do
do
do
.. do..
do
do.. _

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

Change in business inventories
Durable goods
Nondurable goods

do
do
do

45
1.2
33

6.1
2.0
4.1

6.0
4.9
1.1

Gross private domestic investment, total
Fixed investment .
.
Nonresidential
Structures
. .
Producers' durable equipment
Residential structures
Nonfarm
...
Change in business inventories
Nonfarm
Net exports of goods and services
Exports
Imports
.

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 1,299.8 1, 318. 1
625.1
617.6
585.0 599.6
495.2 501.1 515.2 531.0 539.9 555.4
465.9 482.1 485.9
246.2
241.8
222.8 238.1 242.4
216.8
196.2
205.5
211.4
175.0
187.4
188.1
192.8
383.4
346.9
357.3 371.4
304.9 309.7 319.6 323.1 332.5
297.8 302.4
290,9
294.7
540.8 554.1
527.7
503.9
514.8
491.8
481.5
460.9
471.8
444.0
421.0
433.9
450.8
138.9
141.4
126.2
140.1
131.7
138.1
124.4
123.8
113.2
117.0
104.1
109.3
99.8
15.9
4.7
8.2
4.5
4.6
8.7
5.5
1.7
7.6
7.0
4.3
5.3
5.1
8.4
8.0
4.4
10.4
7.3
3.2
5.8
4.2
-.9
.4
4.1
.7
-1.1
7.5
-3.4
-2.2
-2.8
.3
2.9
2.3
6.2
6.2
3.4
1.3
2.9
3.7

GNP in constant (1958) dollars f
Gross national product, total f

...

bil.$._

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

do
do
do

Net exports of goods and services

745.4

790.7

719.3

735.1

740.4

746.9

759.0

768.0

785.6

796.7

812.3

829.3

834.3

841.3

844.1

496.3

526.8

477.5

489.5

493.6

498.0

504.1

512.5

523.4

531.0

540.5

552.7

553.3

558.1

554.5

83.8
206.5
187.2

92.2
211.6
192.4

104.0
220.9
201.8

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

109.7
229.6
215.2

103.4

110.3

122.9

102.1

106.6

110.3

109.5

114.8

116.5

121.0

124.8

129.1

130.2

130.2

130.8

135.7

do .
do
..do...
- do

99 5
77.2
22.2
39

105.0
76.1
29.0
5.3

118.3
83.7
34.6
4.6

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

127.7
93.2
34.5
3.0

124.7
94.1
30.6
10.9

do...

2.3

.4

-2.0

2.0

2.4

-.2

.8

-1.6

-3.7

-2.8

g

-.8

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

722.5
477.5

.

137.8
136.7
138.4
143.0
Govt. purchases of goods and services, total -do...
139.3
60.1
61.8
60.8
60.9
Federal
.
do .. 64.3
76.6
82.2
76.0
77.5
75.0
State and local
do
r
Revised.
" Preliminary,
* Preliminary annual totals for 1973 for components
shown in this column appear on pp. 7-10 of this issue of the SURVEY.
t Revised series.
Estimates of national income and product and personal income have been revised back to

2.0

5.6

7.4

9.2

144.4
58.2
86.2

145.2
58.2
87.0

145.0
57.2
87.8

144.8
55.6
89.2

143.5
141.8
142.7
144.0
138.6
141.6
136.7
58.6
58.8
63.0
62.9
62.5
59.9
61.1
85.0
83.0
79.7
81.1
77.5
76.8
79.1
1969 (see p. 14 ff. of the July 1973 SURVEY) : revisions prior to May 1972 for personal income
appear on pp. 27-28 of the July 1973 SURVEY.
9 Includes data not shown separately.

S-l
529-782 O - 74 - S-l




SUEVEY OF CUEEENT 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

1971

| 1972
I

Annual total

January 1974
1972

III

II

I

IV

II

1973
III

I

IV

1974

II

III

IV P 3

I

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

941.8

835.9

853.6

865.6

882.7

911.0

928.3

949.2

978.6

015.0

038.2

1,067.4

603.9

644.1

707.1

627.6

638.8

648.8

661.2

684.3

699.6

713.1

731.2

757.4

774.9

794.0

815.0

do
do
do
do
do
do
do
do
do

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
_ _.

859.4

do

Compensation of employees, totalf

800.5
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

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

699.3
553.2
20.4
125.7
94.7
85.0
57.9
27.1
25.3

717 6
567.2
21.3
129 1
97.5
90 0
58 7
31.3
25.7

69.2

80.1

91.1

75.8

80.6

80.9

83.4

86.2

88.0

91.5

98.8

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
26 9

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

8.9
23.1

9.8
24.1

9.9
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

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

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

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
744.0
680.6
63.5

870.2
118.1
752.0
691.8
60.2

884.4
124.0
760.4
702.6
67.8

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 1,019.0
149.3
145.1
869.7
851.5
818.7
801 5
51.0
60 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

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

21.60
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

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

10.99
.49
.34
.34
.28
3.11
2.70
.41
2.50
3.94

13.06
.54
.47
.60
.36
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
.60
.32
3.63
3. IS
.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
3.3C
5.67

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

15.42
.69
.48
.57
.44
4.82
4.04
.77
3.19
5.24

17.39
.73
.54
.60
.41
5.74
4.85
.89

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

29.37

27.98

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

48.86
2.04
1.46
1.29
1.33
14.64
12.16
2.48

51.50
2. OS
1.88
2. 28
1.40
14.91
12.61
2.30

51.56
2.23
1.72
1.68
1.48
15.87
13.56
2.30

52.82
2.30
1.64
2.26
1.3^
15. 74
13.01
1

56. 75
2.38
1.8*
2.89
l.K
16.60
14.32
2.27
rn

56.70
2.40
1.5(
2.67
1.41
17.01
14.62
2.38
Ut\(\

17.39

17. 72

17.85

19.10

20.10

19.88

20.16

58.30
2.46
1.71
2.33
1.42
17.53
14.67
2.86
12 63
20.21

97.76
36.58
18.64
17.94
61.18
2.77

2 I-

56.70
2.42
2.10
1.96
1.48
16.92
14.27
2.65

96.19
35.51
17.88
17.63
60.68
2.69
2. 11
2. 21
1. 53
18.38
15. 40
2. 98
12.34
21.53

16,48
10,87

16,78
10,79

17,28
11,5?

15,73
9,58

17,58
11,65

17,46*
11,53

18,49
12,36

19,92
13,2

22,611
15,320

24,376 p 26,19
16,778 p 18,15

4

3

343

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 t
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 1
do
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

Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
Nondurable goods industries ^
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication

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

U.S. BALANCE OF INTERNATIONAL
PAYMENTSd"
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 conReceipts of income on
abroad
Other services

U.S.

investments
mil. $.
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
41,96

66,28
42,76

73,46
48,76

1,47

1,91

1,16

8,05

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

12,89
8,71

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

13,92
9,60

2,1?

50

2,16

-1,16
-2,45

-1,13
-2,5

13
95
80 -4,61
3,63
Balance on goods and services total
do
1
-9
-6,91
-2,69
2,17
Merchandise, adjusted, excl. military
do...
r
Revised.
p Preliminary.
* Estimates (corrected for systematic biases) for Oct.Dec. and Jan.-Mar. 1974 based on expected capital expenditures of business. Expected expend2
itures for the year 1973 appear on p. 13 of the December 1973 SURVEY.
Includes com3
munication.
See note 1 on p. S-l.
t See corresponding note on p. S-l.
9 Includes
inventory valuation adjustment.
® Personal outlays comprise personal consumption




U

48

12.70
21.55

2,23

2,1

-17,00 -16,29
-11,90 -11,10
—1,20- -1,23
-1,2
-2,5

-1,3
-2,6

2,29
-18,9
-13,4
-1,2

-1,4
-2,8

2
0 O

2,3

2,3

2,5

-18,8
-13,3
-1,24

-19,4
-13,9
-1,1

-20,7
-14,9
—1,1

22,4
-16,2

-23,7
-17,0

-1,5
—2,8

-1,6
—3,0

-1,84

-2,2

-1,4
—2,8

4 15

100.90 i 104. 94 i 108. 16
42.92
38.81
40.54
22.21
19.73
20.94
20.71
19.08
19.60
65.24
62.09
64.40
2.90
2.82
2.85
1 Q"i
1 Qft
2 43
2 1 ft
1 74
1 7Q
I CO
21.57
18.58
21. 20
-10 (\n

n

4 31
2 ' s^

1 Q 40
3 OR

2 34. 43

P534
p 4 636
p 2*876

p-24,051
p— 17,439
T

0 0

QA

OK

13.12
21.36 2 34. 63

455

2

2

1,047.1 , 079. 2
156.0
161.2
918.0
891.1
840.1
854.6
51.1
63.3

3

q A

49

-78,07 -15,53 -16,65
-55,68 -10,74 -11,70
-4,72' -1,17 -1,214
-6,06
-11,60

10 7*}

18.08

29.0
—15.6
53.0

1 1 1 rj

p-2,32 5
p 3 17 7

p 2, 148
67
2
15
-8
-9
-1,4
-5
-1,3
J>714
—24
-96
-1,7
-1,5
-1,8
-1,7
-1,5
-3
expenditures, interest paid by 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 tfie
Mar., June, Sept., and Dec. issues of the SURVEY.
d"More complete details appear in tne
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