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SURVEY OF CUREENT BUSINESS

10

February 1974

NATIONAL INCOME AND PRODUCT TABLES
1972
1972

1973

III

1973
IV

I

II

1972
III

IV

1972

1973

III

1973
IV

Seasonally adjusted at annual rates

I

II

III

IV

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)

1, 155. 2 1, 289. 1 1, 166. 5 1, 199. 2 1, 242. 5 1, 272. 0 1, 304. 5 1, 337. 5

Fixed investment

-

Exports
Imports

-

- -

Government purchases of goods and services
Federal
National defense
Other
State and local

_- .

.

553.9

531.0

540.5

552 7

553 3

558 1

551 3

130.8
335 9
337.3

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

125.6
349 6
350.0

104.0
220.9
201.8

114. 3
228 8
210.7

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

108 7
228 3
214 3

202.1

181.5

189.4

194.5

198.2

202.0

213.9

122.9

132.2

124.8

129.1

130.2

130.2

130.8

137.6

194.2

172.9

181.2

189.9

193.7

197.3

195.9

118.3

126 6

118.2

122.8

126.9

126.9

127.7

125 0

118.2
41.7
76 5

136.2
48.4
87 8

118.3
41.3
77.0

124.3
43.0
81.2

130.9
45.3
85.5

134.1
47.2
86.9

138.0
49.5
88.6

141 8
51.7
90 1

83.7
23.0
60.8

92 6
24.9
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 5
26 2
68 3

58 0
57.4
.6

54.5
53.9
.6

56.9
56.4
.5

59.0
58.4
.6

59.6
59.1
.5

59.2
58.6
.6

54 0
53 4
.7

34.6
34.2
.4

34 0
33 6
.4

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

30 5
30 1
4

80
7.3
.6

8.7
8.4
.3

82
7.9
.3

4.6
4.4
.2

4.5
4.4
.1

4.7
3.2
1.5

18 0
17 3
.7

4.6
4.5
.1

56
52
.3

6.6
6.6
.0

6.3
6.2
.1

3.3
3.2
.1

34
3.3
.1

30
23
.7

12 5
12 1
4

5.8

-3.8

-3.5

.0

2.8

7.6

12.8

6.7

-.9

-.8

2.0

5.6

7.4

11.6

102.0
96.2

74.0
77.7

79. 7
83.2

89.7
89.7

97.2
94.4

104.5
97.0

116.4
103.6

56.4
58.4

67.6
60.9

56.6
57.5

59.6
60.3

65.3
63.3

66.6
61.1

67.4
60.0

71 0
59.4

255.0

277.1

254.7

260.7

268.6

275.3

279.0

285.6

143.0

144.7

141.8

143.5

144.4

145 2

145 0

144.1

106.6
73.9
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

106.8
73.0
33 8

60.8

57.1

58.8

58.6

58.2

58.2

57.2

54.9

150.5

Net exports of goods and services

526.8

73.5
78.1

Change in business inventories
Nonfarm
Farm
..

844 6

825 2

-4.6

Residential structures
Nonfarm
Farm
.. .

841 3

816.0

60
5.6
.4

-

834 3

795.6

54 0
53.5
.6

Nonresidential
Structures
.. .
.
Producers' durable equipment

829 3

779.4

172.3

- -

812.3

752.6

178.3

Gross private domestic investment _

796.7

734.1

117.4
299.9
309. 2

_ _

837.4

804.0

104.4
74.4
30.1

Durable goods
Nondurable goods
Services

790.7

726 5

Gross nation&l product
Personal consumption expenditures

170.5

152.4

158.0

163.0

168.0

172.2

178.8

82.2

87.6

83.0

85.0

86.2

87.0

87.8

89.2

-2.0

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
1 155 2 1 289 1 1 166 5 1 199 2 1 242 5 1,272 0 1 304 5 1 337 5

790 7

837 4

796 7

812 3

829 3

834.3

841.3

844.6

1 149. 1 1 281 1 1 157 8 1 191 0 1 237 8 1 267 5 1 299 8 1 319 4
4.5
4.7
6.0
80
8 2
4 6
18 0
8.7

Gross national product
Final sales
Change in business inventories

786 1
4.6

831 8
56

790 0
6.6

806.0
6.3

826 0
3.3

831.0
3.4

838.3
3.0

832 1
12.5

541.4

614 7

548 6

563 6

589 6

604. 2

622.3

642 6

423 9

455 9

428.4

438.4

452.1

453.9

456.8

460.9

535.4
6.0

606 7
80

539.9
8. 7

555 4
8.2

585.0
4.6

599 6
4.5

617 6
4.7

624 6
18 0

419.3
4.6

450 3
56

421.7
6.6

432.1
6.3

448.7
3.3

450.5
3.4

453.7
3.0

448.4
12.5

Durable goods
Final sales
Change in business inventories.

219. 1
214. 1
4.9

250 1
242 1
80

222.6
216.8
5.8

233.2
222 8
10.4

242.5
238 1
4.4

249.7
242 4
7.3

254.3
246 2
8.0

254 2
241 7
12 4

184. 1
180 2
3.9

206 2
200 4
58

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

206.0
197.2
8.9

Nondurable goods
Final sales
Change in business inventories

322.3
321.2
1. 1

364 5
364 6
— 1

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

388 4
382 8
5 6

239.8
239. 1
7

249 7
250 0
2

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

254.9
251.3
3.6

487 3
126.5

534 5
139.9

491 8
126 2

503 9
131 7

514 8
138 1

527 7
140 1

540 8
141 4

554 7
140 2

292 6
74 2

306 0
75.5

294 5
73.8

298 8
75.1

300 6
76.7

304 1
76.3

308 6
76.0

310.5
73.1

Goods outputFinal sales
Change in business inventories

_ .

Services
Structures

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)

1 155 2 1 289 1 1 166 5 1 199 2 1 242 5 1 272 0 1 304 5 1 337 5

Business
Nonfarm
Farm
.
Households and institutions
Rest of the world
General government- .
Federal
State and local ..

790 7

837 4

796 7

812 3

829 3

834.3

841.3

844.6

1 019 7 1 141 6 1 030 0 1 060 0 1 098 9 1 126 2 1 156 3 1 184 9

Gross national product
Private.

729 5

774 9

735 3

750.3

767.1

772.0

778.8

781.7

984 9 1 013 6 1 050 5 1 076 8 1 105 2 1 131 1 706 6
951 0
976 9 1 008 9 1 033 5 1 056 2 1 074 4 682 0
49 o
33 9
41 6
43 3
24 6
36 7
56 7

750 8
727 7
23 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

754.7
733.6
21.2

757.4
733.2
24.2

975.4 1 090 9
941 0 1 043 2
34 4
47 7
.

36.8
7.5

41 1
96

37.5
7 6

37.8
8 7

39.3
9 1

40.5
89

41.8
9 3

42 9
10 9

17.4
55

18 3
58

17.5
5.5

17.4
6.2

18.0
6.3

18.2
5.5

18.5
5.4

18.5
5.9

135 4
50 3
85 1

147 5
52 8
94 8

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

62.9
21.2
41.7

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




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

1972

| 1971

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

1970
IV

Annual total

1971
I

|

II

1972
III

IV

i

| n

1973

III

IV

I

|

II

III

IV i

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
Gross national product totalf -

--

bil. $

Personal consumption expenditures, total.. do
Durable goods total 9
do
Automobiles and parts
-do
Furniture and household equipment... do

977.1

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 •1,337.5

1, 055. 5

1, 155. 2

991.8

667.2

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

' 825. 2

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

' 125 6

617.6

r

51. 8
'55.0

Nondurable goods, total 9
Clothing and shoes
Food and beverages
Gasoline and oil

do .
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 '349.6
70.3 '70 8
164.3 r 168. 3
29.4 ••30.5

Services total 9
Household operation __
Housing
Transportation

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

do _

T

350. 0
'49.5
118.4
'24.1

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 '213.9

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 ' 195. 9
138.0 ' 141. 8
49.5 '51.7
88.6 '90.1
59.2 '54.0
58.6 '53.4
4.7 '18.0
3.2 '17.3

do
do
do

62.9
59 3

3.6

8
66.3
65 5

-4 6
73.5
J8 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 '12.8
104.5 ' 116. 4
97.0 ' 103. 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 ' 285. 6
106.8 ' 106. 8
74.2 '73.0
172.2 ' 178. 8

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

466 7
182.5
284 1
410.3
95 6

972.6

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

4.5
12

61
20
41

60
4 9
1.1

5.1
—1 1
6.2

7.0
41
2.9

7.6
4 2
3.4

4.3
7
3.7

5.3
— 9
6.2

745.4

790.7

719.3

735.1

740.4

746.9

759.0

768.0

785.6

796.7

523.4

531.0

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

do__ _
do
do
do
do
do

Change in business inventories
Durable goods
Nondurable goods

do
do
-do

0

0

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 1,267.6 1,299.8 '1,319.4
617.6 ' 624. 6
555.4
585.0
539.9
599.6
531.0
615.2
465.9 482 1 485.9
501.1
495 2
246.2 ' 241. 7
222.8 238.1 242.4
216.8
196.2
211.4
205.5
188.1
175.0
187.4
192.8
346.9
323.1 332.5
357.3 371.4 ' 382. 8
304.9 309.7 319.6
290.9
294 7
297.8 302 4
540.8 ' 554. 7
514.8
527.7
421.0
433.9 444.0
450.8 460.9 471.8 481.5 491.8 503.9
141.4 ' 140. 2
138.1
126.2
131.7
140.1
124.4
113.2
117.0
123.8
99 8
104 1 109 3
1.7
.4
1.3

5.5
3.2
2.3

8.7
5.8
2.9

8.2
10.4
-2.2

4.7
8.0
-3.4

'18.0
'12.4
'5.6

4.6
4.4
.3

4.5
7.3
-2.8

812.3

829.3

834.3

841.3 '844.6

540.5

552.7

553.3

558.1 ' 551. 3

109.2
225.8
205.4

117.0
228.8
207.0

116.2
228.0
209.1

115.4 ' 108. 7
230.2 ' 228. 3
212.5 ' 214. 3

GNP in constant (1958) dollaref
Gross national product, totalf

-

bil. $..

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

.

do
do
do

Gross private domestic investment, total.. .do
Fixed investment
Nonresidential
Residential structures
Change in business inventories
Net exports of goods and services

do
do
do
do
do .

722.5
477.5

496.3

526.8

477.5

489.5

493.6

498.0

504.1

512.5

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

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 ' 137. 6

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 ' 125. 0
93.2 '94.5
34.5 '30.5
3.0 '12.5

99 5
77.2
22.2
3.9

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

23

.4

-2.0

2.0

2.4

143.0
136.7
Govt. purchases of goods and services, total -do
138.4
137.8
139.3
Federal
do .
60.9
60.8
60.1
64.3
61.8
82.2 1 76.0
76.6
State and local
do
75.0
77.5
State
locailllllllllllllHIIIIIIIIIIIIdoIIII
75^0
77.5
82.'2 I 76.0
T
1
Revised.
Annual totals for 1973 for components shown in this column appear on
pp. 10-13 of this issue of the SURVEY.
t Revised series. Estimate of national income
and product and person income have been revised back to 1969 (see p. 14ff. of the July 1973




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

7.4 '11.6
2.0
-.8
5.6
-.9
-2.8
—.2
-3.7
.8
-1.6
145.0 ' 144. 1
145.2
144.4
143.5
141.8
144.0
142.7
138.6
141.6
136.7
57.2 '54.9
58.2
58.2
58.6
58.8
62.9
63.0
62.5
59.9
61.1
89.2
87.$
86.2
87.0
85.0
83.0
81.1
79.7
77.5
79.1
76.8
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

SURVEY 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 | 1972

1971

I

Annual total

1972

III

II

February 1974

IV

I

II

1973

III

I

IV

II

1974

III

IV 3

I

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income totalf
bil. S-Compensation of employees totalf
Wages and. salaries total
Private
- Military
Government civilian
Supplements to wages and salaries
Proprietors' income total 9
Business and professional V
Rental income of persons

800.5

859.4

941.8

835.9

853.6

865.6

882.7

911.0

928.3

949.2

978.6

1,015. 0

1,038.2

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

' 814. 7

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
610.9
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. 2

69.2

80.1

91.1

75.8

80.5

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
60.6
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
29.0
43.4
—17.0 ' -15.5
51.1
53.0

808.3
116.6
691.7
635.5
56.2

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
57.8

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
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

'1,078.9

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
.66
.37
4.29
3.60
.69
2.84
5.26

12.77
.58
.48
.60
.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

15.83
.63
.47
.63
.40
4.74
4.01
.73
3.39
5.57

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

15.57
.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

2

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

do
do
do
do
do
do
do
do
do
do

48.86
2.04
1.46
1.29
1.33
14.64
12.16
2.48
10.70
17.39

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

68.30
2.46
1.71
2.33
1.42
17.53
14.67
2.86
12.63
20.21

96.19
35.51
17.88
17.63
60.68
2.59
2.11
2.21
1.53
18.38
15.40
2.98
12.34
21.53

97.76
36.58
18.64
17.94
61.18
2.77
1.75
2.72
1.62
18.08
15.55
2.52
12.70
21.55

16,487
10,872

16,78
10,79

17,587
11,655

17,463
11,53

18,49
12,362

22,611 24, 376 P 26,199
19,92
13,213 '15, 323 16, 781 p 18,lo8 p 20,048

- -do
do .
-do
do
do
do
do
do

._

do

Corporate profits and inventory valuation adjustment total
,
bil. $..
By broad industry groups:
Financial institutions
do
Nonftnancial corporations, total
do
Manuf ac turi ng 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
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 ^
- do
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
Nondurable goods industries ^
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
do
do

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 contracts
mil $
Receipts
of income on U.S. investments
abroad
mil. $..
Other services
do

' 566. 9
21.3
129.1
97.5
'89.8
••58.5
31.3
25.7

r 161. 1

' 917. 8
'850.8
'67.1

100.90 1 104. 94
40.54
38.81
20.94
19.73
19.60
19.08
64.40
62.09
2.85
2.82
1.98
1.95
2.22
2.49
1.53
1.79
21.20
18.58
17.84
16.00
3.35
2.58
13.12
21.36 2 34. 63

7. 98

1 108. 16
42.92
22.21
20.71
65.24
2.90
2.43
2.16
1.74
21.57
18.49
3.08
2 34. 43

U.S.

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
Balance on goods and services, total
Merchandise, adjusted, excl. military

do
do

62,919
41,964

66,287
42,768

73,462
48,769

1,478

1,91

1,166

ll,42b
8,052

12,899
8,710

13,925
9,60

-59,289
-39,788
-4,852

-4,92
-10,25

-6,063
-11,604

3,630
2,176

80
-2,69

-4,610
-6,912

455

"534

4,311
2,832

"4,636
f 2, 876

3,47
2,39

-17,002 -16,29
-11,90 -11,10
-1,204 -1,23

-18,96

-18,88

-19,43

-1,22

-1,242

-1,10

-1,34
-2,61

-1,42
-2,84

-1,47
-2,85

-1,52
-2,86

-1,63 -1,849 -2,200 p-2,325
—3,04 -3,164 -3, 295 -3,177

-93
-1,57J

'154
-87
-1,745 ' -966

489

419

3,038
2,23

3,557
2,180

-1,13
-2,59

-1,293
-2,598

13
-91

280
385

95
129

343

4,158
2,790

26

3,27
2,36

50

3,31
2,16

-1,16
-2,45

23

28

3,314
2,29

498

r
Revised.
*> Preliminary.
1 Estimates (corr ected for system a1 ic biases ) for O ct.Dec. and Jan.-Mar. 1974 based on expected capital ex]aenditure 5 of busine ss. Expec ted expe nd2 in eludes c 3mitures for the year 1973 appear on p. 13 of the De« mber 1973 SURVEY
3
9 Inclu des
munication.
See note 1 on p. S-l.
t See com spending note on i3. S-l.
inventory valuation adjustment.
©Personal 01itlays coinprise pe rsonal c snsumpt ion




15,739
9,583

2,989
2,128

-65,480 -78,07 -15,533 -16,650
-45,466 —55,68 -10,743 -11,708
-4,829 -4,724 -1,175 -1,214

-5,167
-9,684

17,282
11,522

-56
1 52

328

-1,42
-1,37
1,82(
1,77-

3,866
2,55

-20,79 -22,46 -23,70~ -24, 051
1 A. Q1 -16,28 -17,03 -17,44 p— 18 86
-1,15 -1,168 -1,185 p-1,110

••678
' -250

P 2,154
P710

i

P 3,450
p 1,300

expenditures, interest paid by consumers, and personal t ransfer p ayments to foreigr ers.
§ Personal saving is excess of disposable income over p ersonal o utlays.
HData for individual durable and nondurable goods in dustries 2ompone its appesir in the
Mar., June, Sept., and Dec. issues of the SURVEY.
d"A tore com Dlete det ails appe ir in the
quarterly reviews in the Mar., June, Sept., and Dec. issu 35 of the SURVEY.

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