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SUEVEY OF CURRENT BUSINESS November 1955 Table 1.—National Income and Product, 1953, 1954, and First Three Quarters 1955 [Billions of dollars] Unadjusted 1953 1954 1953 1955 I NATIONAL INCOME BY DISTRIBUTIVE Seasonally adjusted at annual rates II III I II 1954 1955 III IV I II III IV I II 320.7 III SHARES _ _ _ 303.6 299.7 76.4 80.3 303.7 307.9 305.1 298.0 297.7 298.9 298.7 303.2 311.4 _ _ 209.2 207.9 52.6 54.6 56.1 206.3 210.3 211.5 208.9 206.7 207.2 207.8 209.8 213.1 219.5 224.3 198.5 164.7 10.3 23.5 10.8 196.2 162.4 9.5 24.4 11.7 49.4 40.7 2.3 6.4 3.2 51.4 42.5 2.3 6.6 3.2 52.9 44.4 2.3 6.2 3.2 195.7 162.1 10.3 23.3 10.7 199.5 165.5 10.5 23.5 10.8 200.8 167.0 10.3 23.5 10.7 198.0 164.4 10.0 23.7 10.8 195.2 161.7 9.7 23.9 11.5 195.6 162.0 9.5 24.1 11.6 196.1 162. 1 9.4 24.5 11.7 198.1 163.8 9.3 25.0 11.8 200.8 166.5 9. 1 25.3 12.2 207.0 171.7 9.3 25.9 12.5 211.3 175.6 9. 1 26.6 13.0 Proprietors' and rental income * 48.4 48.4 12.2 12.2 12.2 49.1 48.4 47.7 48.4 49.0 48.2 48.3 48 2 48.8 48 7 48.8 Business and professional Farm Rental income of persons 25.9 12.3 10.3 25.9 12.0 10.5 6.6 2.9 2.7 6.8 2.7 2.7 6.9 2.6 2.7 26.3 12.6 10.2 26.0 12.1 10.2 25.7 11.7 10.3 25.6 12.5 10.3 25.3 13.2 10.4 25.9 11.9 10.5 26.0 11.7 10.6 26.3 11.2 10.7 26.6 11.5 10.7 27.1 11.0 10.7 27.- 6 10.6 10.7 37.2 33.8 9.1 10.9 40.2 40.5 36.8 31.4 32.6 34.0 33.1 35.5 39.6 42.2 38.3 21.3 17.0 -1.1 34.0 17.1 17.0 -.2 9.5 4.7 4.7 -.3 11.1 5.6 5.5 -.2 -.7 41.4 23.0 18.4 -1.2 41.5 23.1 18.4 -1.0 39.4 21.9 17.5 -2.6 30.9 17.2 13.7 .5 32.7 16.4 16.3 -.2 33.7 16.9 16.8 .2 33.5 16.8 16.7 -.5 36.0 18. 1 17.9 -.5 40.9 20.5 20.4 -1.3 43.0 21.6 21.4 -.8 -2.6 8.8 9.5 2.5 2.6 2.7 8.0 8.7 9.1 9.3 9.4 9.5 9.5 9.7 9.9 10.3 10.7 31.6 31.8 8.2 8.4 8.0 31.6 31.9 31.6 31.5 31.4 31.5 31.9 32.2 32.3 33.1 33.7 National income _ _ Compensation of employees Wages and salaries Private Military _ _ _ Government civilian Supplements to wages and salaries _ . _ _ __ Corporate profits and inventory valuation adjustment Corporate profits before tax Corporate profits tax liability Corporate profits after tax _ Inventory valuation adjustment Net interest Addendum: Compensation of general government employees GROSS NATIONAL PRODUCT OR EXPENDITURE 364.5 360.5 91.4 95.2 97.3 361.9 369.3 366.9 359.9 358.3 357.6 358.8 367.1 375.3 384.8 391.5 _ 230.6 236.5 58.5 62.7 62.5 228.5 231.4 232.1 230.3 232.2 235.1 237.9 241.0 245.8 250.5 256.0 _ _ _ _ _ 29.8 118.9 81.8 29.3 120.9 86.4 7.8 28.3 22.4 9.1 30.9 22.7 8.7 31.0 22.8 30.2 118. 7 79.6 30.6 119.7 81.1 30.5 118.8 82.7 28.0 118.6 83.8 28.3 119.2 84.7 29.0 120.4 85.7 29.4 121.5 87.0 30.4 122.5 88.1 34.4 122.4 89.0 35.1 125. 3 90.2 37.2 127.0 91.8 51.4 47.2 14.6 13.8 15.9 51.7 55.0 52.8 46.0 45.5 46.9 45.9 50.7 54.1 60.1 60.3 25.8 11.9 13.8 24.4 1 2 1.9 27.8 13.5 14.3 22.3 -2.9 -3.2 6.7 3.3 3.4 5.2 2.7 2.7 '8.2 '4.3 3.9 '6.2 -.6 -.6 9.0 4.6 4.4 6.0 .9 .8 25.2 11.7 13.5 24.3 2.2 2.8 26.2 12.2 14.0 24.4 4.5 5.4 25.8 12.1 13.8 25.0 2.0 2.8 25.9 11.7 14.1 24.1 -4.0 -3.6 25.9 11.8 14.1 22.9 -3.2 -3.4 27.3 13.0 14.3 22.4 -2.7 -3.2 28.5 14.2 14.3 22.2 -4.9 -5.4 29.4 15.0 14.4 21.9 -.6 -1.0 31.2 '32.6 '16.1 '16.9 15.1 15.7 21.5 '23.2 1.5 4.3 1.5 4.2 32.8 16.7 16.1 25.1 2 4 2.0 -1.2 -1.1 Gross national product Personal consumption expenditures Durable goods Nondurable goods Services __ - Gross private domestic investment - - _ _ _ _ New construction Residential nonfarm Other Producers' durable equipment Nonfarm only - _ _. _ _ -_ -.3 -.2 -.2 -.2 -.3 -.7 .9 -.4 -.7 -.5 84.5 77.0 18.4 18.9 19.2 83.6 85.4 84.2 84.8 81.7 75.9 75.8 74.5 75.8 74.9 75.8 59.5 51.4 49.4 2.0 8.5 .4 25.0 49.2 43.2 41.4 1.8 6.3 .4 27.8 11.6 10.3 9.7 .6 1.4 .1 6.8 11.3 10.1 9.6 .5 1.3 .1 7.6 11.4 10.2 9.7 .4 1.3 .1 7.8 59.0 51.9 49.8 2.1 7.7 .5 24.6 61.0 53.2 51.0 2.2 8.3 .4 24.3 59.3 51.3 49.4 1.9 8.4 .4 24.9 58.7 49.4 47.4 2.0 9.6 .3 26.2 54.7 46.8 45.0 1.8 8.3 .4 27.0 48.6 43.6 42.0 1.5 5.4 .4 27.3 47.7 42.1 40.3 1.8 6.1 .4 28.1 45.7 40.5 38.5 2.0 5.5 .3 28.7 46.4 41.2 38.7 2.5 5.5 .3 29.4 45.2 40.4 38.5 1.9 5.2 .3 29.7 45.5 40.6 39.0 1.7 5.2 .3 30.2 286.2 287.6 72.4 74.7 76.5 282.6 286.7 288.1 287.4 285.8 286.6 287.3 290.8 293.6 300.5 306.1 35.8 32.4 3.4 32.8 29.1 3.7 9.7 8.6 1.2 9.3 8.2 1.0 8.6 7.7 .9 35.4 32.0 3.4 35.8 32.4 3.4 36.1 32.7 3.5 35.9 32.4 3.5 32.7 29.1 3.6 32.7 29.1 3.6 32.8 29.1 3.7 33.1 29.3 3.8 32.6 28.8 3.8 33.4 29.5 3.9 34.4 30.4 4.0 250.4 254.8 62.7 65.5 67.9 247.3 250.9 251.9 251.4 253.1 253.9 254.5 257.8 261.0 267.1 271.7 230.6 236.5 58.5 62.7 62.5 228.5 231.4 232.1 230. 3 232.2 235.1 237.9 241.0 245.8 250.5 256.0 - 19.8 18.3 4.1 2.8 5.4 18.7 19.6 19.9 21.1 21.0 18.8 16.6 16.8 15.3 16.6 15.7 - 364.5 360.5 91.4 95.2 97.3 361.9 369.3 366.9 359.9 358.3 357.6 358.8 367.1 375.3 384.8 391.5 Less' Capital consumption allowances Indirect business tax and nontax liability Business transfer payments Statistical discrepancy Plus: Subsidies less current surplus of government enterprises- 27.8 30.2 1.2 1.3 -.4 30.0 30.3 1.2 -.8 -.1 7.8 7.6 .3 -.6 .1 8.0 7.9 .3 -1.2 .1 8.2 8.2 .3 27.0 29.5 1.2 .3 -.2 27.6 30.3 1.2 1.9 -.3 28.0 30.4 1.2 1.9 -.3 28.7 30.4 1.2 .9 -.7 29.2 29.9 1.2 —.1 -.4 29.6 30.4 1.2 -2.3 .3 30.4 30.0 1.2 —1.5 .0 30.9 30.7 1.2 .7 -.3 31.2 31.1 1.2 7 .3 31.9 31.7 1.2 — 2 .4 32.7 32.2 .1-2 303.6 299.7 76.4 80.3 303.7 307.9 305.1 298.0 297.7 298.9 298.7 303.2 311.4 320.7 Less* Corporate profits and inventory valuation adjustment Contributions for social insurance Excess of wage accruals over disbursements _ -- 37.2 8.7 -.1 33.8 9.6 .0 9.1 2.9 .0 10.9 2.9 .1 2.7 -.1 40.2 8.8 .0 40.5 8.9 -.1 36.8 8.6 -.1 31.4 8.5 -.1 32.6 9.7 .0 34.0 9.6 .0 33.1 9.6 .0 35.5 9.6 .0 39.6 10.5 .1 42.2 10.8 Plus' Government transfer payments Net interest paid by government Dividends Business transfer payments 12.8 5.0 9.3 1.2 15.0 5.2 10.0 1.2 4.1 1.1 2.6 .3 4.1 1.5 2.5 .3 3.9 1.3 2.6 .3 12.7 4.9 9.1 1.2 12.7 5.0 9.2 1.2 12.7 5.0 9.4 1.2 13.3 5.1 9.5 1.2 14.3 5.1 9.7 1.2 15.1 5.2 9.8 1.2 15.0 5.2 10.0 1.2 15.7 5.2 10.6 1.2 15.9 5.1 10.2 1.2 16.2 5.0 10.7 1.2 15.7 5.0 11.0 1.2 286.2 287.6 72.4 74.7 76.5 282.6 286.7 288.1 287.4 285.8 286.6 287.3 290.8 293.6 300.5 306.1 Net foreign investment - -_ -2.0 Government purchases of goods and services Federal National security National defense Other national security Other _ Less* Government sales State and local -- - - - - -2.0 -2.5 -2.2 DISPOSITION OF PERSONAL INCOME Less' Personal tax and nontax payments Federal State and local - - Equals* Disposable personal income Less* Personal consumption expenditures Equals * Personal saving - -_ - RELATION OF GROSS NATIONAL PRODUCT, NATIONAL INCOME, AND PERSONAL INCOME Gross national product _ Equals* National income Equals* Personal income r Revised. 1 _ _ Includes noncorporate inventory valuation adjustment. .2 Source: U. S. Department of Commerce, Office of Business Economics. .6 11.2 -.6 * BUSINESS STATISTICS THE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1955 Statistical Supplement to the SURVEY OF CURRENT BUSINESS. That volume (price $2.00) contains monthly data for the years 1951 through 1954 and monthly averages for earlier years back to 1929 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1951. Series added or revised since publication of the 1955 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. In most instances, 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. through the courtesy of the compilers, and are subject to their copyrights. Unless otherwise stated, statistics through 1954 and descriptive notes are shown in the 1955 edition of BUSINESS STATISTICS Data from private sources are provided 1954 Sei berm~ October 1955 Novem- December ber January February Tvr >h i i darfu n April May June July August 6 ^m" October GENERAL BUSINESS INDICATORS NATIONAL INCOME AND PRODUCT Seasonally adjusted quarterly totals at annual rates: National income, total bil of clol 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 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 298 7 303 2 311 4 320.7 207 196 162 9 209 8 198 1 163 8 93 25 0 11 8 213 1 200 8 166 5 91 25 3 12.2 219 5 207 0 171.7 9 3 25.9 12.5 224 3 211.3 175.6 9 1 26.6 13.0 48 26 11 10 8 6 5 7 48 7 27. 1 11 0 10.7 48.8 27.6 10 6 10.7 8 1 1 4 24 5 11.7 48 26 11 10 3 0 7 6 48 26 11 10 2 3 2 7 33 33 16 16 — 9 1 5 8 7 5 5 35 5 36 0 18 1 17.9 — 5 97 39 6 40 9 20 5 20.4 —1 3 9 9 42.2 43.0 21.6 21.4 10 3 —2.6 10 7 do 358 8 367 1 375 3 384 8 391 5 Personal consumption expenditures total Durable goods Nondurable goods Services do do do do 237 29 121 87 9 4 5 0 241 30 122 88 0 4 5 1 245 8 34 4 122.4 89 0 250 5 35.1 125.3 90. 2 256 0 37.2 127 0 91.8 Gross private domestic investment total New construction Producers' durable equipment Change in business inventories do do do do 45 28 22 —4 9 5 2 9 50 29 21 — 7 4 9 6 54 1 31 2 21 5 15 60.1 32 6 f 23 2 4 3 60.3 32 8 25 1 2 4 9 4 7 — 5 42 1 28 1 74 45 40 28 5 7 5 7 75 8 46.4 41 2 29 4 74 9 45.2 40 4 29 7 75.8 45.5 40.6 30 2 Gross national product total n Government purchases of goods and services, total bil of dol Federal (less Government sales) do National security 9 do State and local do 75 8 47 7 r _ . Personal income total Le^s' Personal tax and nontax payments Equals' Disposable personal income do do do 287 3 32 8 254 5 290 8 33 1 257 8 293 6 32 6 261.0 300 5 33 4 267. 1 306 1 34 4 271.7 Personal savin a§ do 16 6 16 8 15 3 16 6 15 7 PERSONAL INCOME, BY SOURCE Seasonally adjusted, at annual rates: Total personal income 287 9 288 4 290 8 293 4 292 2 293 2 295 7 298 9 301 4 301 6 305. 3 * 305. 3 307 5 195 8 82 8 52 5 26 3 34.2 196 8 83 4 52.7 26 5 34.2 198 6 85 2 52.5 26 6 34.3 198 8 84 8 53. 1 26 6 34.3 199 3 85 4 52.9 26 8 34.2 200 3 86 3 53. 0 26 7 34.3 202.6 87 8 53.6 27 0 34.2 204.6 88 9 53.6 208.0 90 9 54.9 27.4 34.8 212.4 91.7 55. 7 27.8 37.2 ••211.2 r 91. 5 34.9 207.3 90 6 54.5 27.4 34.8 212 0 92 1 56.0 28. 1 35.8 6 49 24 16 6 47 24 17 6 48 24 16 6 48 26 17 6 49 25 17 6 48 25 17 6 48 25 17 8 5 5 4 6 9 49.0 25 9 17 6 6 48 26 17 9 8 1 5 6 9 48.5 26 3 17 1 7.0 47.9 26. 4 16.9 51 51 52 5.2 5.3 5.3 5.3 280.9 287.2 276. 5 277.7 283.7 272.1 275.9 I 278.1 286.6 273.8 Total nonaerricultural income .._ - .-do' Revised. cf Includes inventory valuation adjustment. 9 Government sales are riot deducted. § Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above. 365542°—55 4 291. 7 ' 290. 8 292.6 Wa0'^ and salary disbursements total Commodity -producing industries Distributive industries Service industries Government bil of dol do do do do do Other labor income do Proprietors' and rental income do Personal interest in com 6 and dividends do Transfer payments do Less personal contributions for social insurance bil of dol 6 0 7 3 4 5 7 5 9 0 45 7 3 9 8 4 5 7 9 5 1 4 6 8 1 0 0 50 8 8 3 0 50 r 56. 1 27.9 35.7 7.0 r 48. 8 r 26, 7 ' 16.9 70 49.7 27 1 17.0 S-l
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