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BUSINESS STATISTICS
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JL HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1953 Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $1.50) contains monthly data for the years 1949 to 1952, 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 1949. Series
added or revised since publication of the 1953 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.
Data from private sources are pro-

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.
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Novem- DecemOctober
Supplement to the Survey
ber
ber

1954

January

February

March

April

May

July

June

August

Septem- October November
ber

GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates:!
National income, total
bil. of dol

299.9

298.9

299.6

208.8
197 6
164. 1
9 9
23.5
11 2

206.4
194 6
161.2
9 7
23.7
11 8

206.6
194 9
161.5
9 5
23.8
11 7

207.2
195 6
161.6
9 6
24.4
11 6

49.1
25.9
12.3
10.8

49.4
25.6
13.0
10.8

49 0
25.9
12 2
10.9

48.5
25.9
11.6
10.9

33 1
32.5
17.4
15. 1
6
8.9

34 1
34.5
17 0
17.5
— 4
9.0

34.9
34.5
17 0
17.5
4
9.1

— 3
9.2

do

360.5

355.8

356.0

355.5

do
do
do
do

229 7
28.0
118 7
83.0

230 5
28.0
118 8
83.6

233
28
120
84

1
8
0
3

234 8
28 9
121 1
84 8

Gross private domestic investment, total __do
New construction
. do
Producers' durable equipment
do _
Change in business inventories
do

45.5
25.7
24.0
—4.2

44.5
26.0
22.7
—4.2

45.6
27 0
22.4
—3 8

45.3
28 3
21.8
—4 8

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

— .6

— 1.1

— 1.0

—.2

86.0
59.8
50.6
26 2

81.9
55.0
46.9
26 9

78 3
51.3
44 7
27 0

75.6
47.9
42.1
27 7

287.3
36.1
251 2
21.5

285.1
32.8
252 3
21.8

285.7
32 9
252 9
19.7

286.2
32.9
253 2
18.4

Compensation of employees, total
Wages and salaries, total
Private
__
Military
Government civilian
Supplements to wages and salaries

do
do
do
do
do
do

Proprietors' and rental income, total cf
do
Business and professional cf - 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
Personal consumption expenditures, total
Durable goods
Nondurable goods
Services
_

Personal income, total
Less: Personal tax and nontax payments
Equals: Disposable personal income
Personal saving §

.

do
do
do
do

PERSONAL INCOME, BY SOURCE
Beasonally adjusted, at annual rates :f
Total personal income
Wage and salary disbursements, total
Commodity-producing industries
Distributive industries
Service industries
Government

bil. of dol

287.8

287.2

287.0

284.9

285.0

285.0

284.4

286.2

286.5

285 7

285 4

^286 6

285. 9

do _
do
do
do

199.1
87.9
52.5
25 0
33.7

197.9
87.0
52.4
25.0
33.5

196.0
85.5
52.1
25 0
33.4

194.7
84.5
51.9
24 8
33.5

194.7
84.6
51.8
24.9
33.4

194.5
84.2
52.0
25 0
33.3

194.3
83.7
52.0
25 2
33.4

195.0
84.2
52.3
25 2
33.3

195.5
84 0
62.5
25 5
33.5

195.7
83 4
53.1
25 4
33.8

195. 5
82 7
52.8
25 8
34 2

' 195. 4
T
82 4
52.9
r
25 9
34.2

195.8
82.7
52.7
26 1
34.3

6.6
48.0
23.5
14 6

6.6
49.1
23.7
13 9

6.7
50.2
23.8
14 4

6.6
49.6
23.9
14 8

6.6
49.6
23.9
15.0

6.6
48.9
23.9
15 8

6.6
48.2
24.0
15 9

6.6
49.4
24.0
15 8

6.6
49.2
24.1
15 8

6.6
47.9
24.2
15 8

6.6
48.2
24.3
15 5

6.6
48.8
24.4
r
!6 0

6.6
47.2
24.5
16 4

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
bil. of dol..
Total nonagricultural income

_

do

4.0

4.0

4.1

4.7

4.8

4.7

4.6

4.6

4,7

4.5

4.7

272.7

271.3

269.6

267.9

268.2

268.8

269.1

269.7

270.3

270.6

270.2

r

'4.6
r

4.6

271. 1

271.8

r

Revised.
fRevised series. Quarterly estimates of national income and product have been revised back to 1939 (annual data, to 1929); quarterly and monthly estimates of personal income, back to
1929 (monthly revisions prior to May 1953 appear in the 1954 issue of the National Income Supplement). For quarterly data prior to 2d quarter 1953, see pp. 8 and 9 of the July 1954 SURVEY.
^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.




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