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SURVEY OF CURRENT BUSINESS 6 August 10.") Table 2.—-National Income and Product, 1954, 1955, and First Half 1956 [Billions of dollars] Unadjusted 1954 Seasonally adjusted at annual rates 1954 1956 1955 II I I 1955 1956 j II III IV I II III IV I II NATIONAL INCOME BY DISTRIBUTIVE SHARES National income Compensation of employees. _ _ , _ 298.3 324.0 82.9 _ _- - 206.9 223.2 57.7 195. 5 161.2 10.0 24.4 11.4 210.4 1 74. 5 9.8 26. 1 12.8 54. 1 44.7 2.4 7.0 3.6 . .. 48.9 49.1 12.4 _ . _ . _ _ _ . 25.9 12. 5 10.5 27.3 11. 7 10.1 7.0 2.9 2.4 32.9 40.9 33.2 16.8 16 4 Wages and salaries Private . Military Government civilian . Supplements to wages and salaries _ _ _ _ _ _ _ . _ _ - - ._ . Proprietors' and rental income * _ _ _ _ _ _ _ Business and professional Farm Rental income of persons . _ _ 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 ifi! i 2.4 7.0 3.6 295.8 296.7 297.6 303.1 311.3 321.9 328.3 334.4 334.9 205.2 205.9 206.6 209.7 213.9 221.6 226.8 230.3 233.0 237. 194.0 160. 1 10.1 23.8 11.2 194.7 160.5 10.0 24.2 11.3 195. 2 160.7 9.9 24.6 11.4 198.1 163.3 9.8 24.9 11.6 201.6 166.7 9.7 25.3 12.2 209.0 172.9 10.0 26.1 12.6 213.6 177.5 9.8 26.4 13.2 217.0 180.5 9.7 26.8 13.3 219.4 182.5 9.6 27.3 13.6 223. 186. 9. 27. 13. 49.6 48.6 48.7 48.6 48.6 49.5 49.0 49.3 49.5 49.' 25.3 13.9 10.4 25.9 12.1 10.6 26.0 12.1 10.6 26.2 11.8 10.5 26. 5 11.8 10.3 27.1 12.2 10.2 27.7 11.3 10.0 28.0 11.4 9.8 28.2 11.5 9.8 28.! 10.0 31.7 32.7 32.5 34.7 38.5 40.2 41.6 43.4 40.9 42 7 21. 5 21 1 -1.7 10 8 5. 4 5 3 31.9 16.1 15 8 -.2 32.9 16.6 16.3 -.2 32.8 16.6 16.2 -.3 35.2 17.8 17.4 -.6 39.7 20.0 19.7 -1.2 41.1 20.7 20.3 -.9 43.5 22.0 21.5 -1.9 46.4 23.4 23.0 -3.0 43.7 22.1 21.6 -2.8 -3.1 9.7 10.8 2.9 2.9 9.3 9.5 9.8 10.1 10.4 10.6 11.0 11.3 11.5 11.'. 32.2 33.9 9.0 9.0 31.7 32.1 32.5 32.7 32.9 33.9 34.3 34.6 35.0 35.^ 360. 7 390.9 98.4 100.9 357.6 358. 5 359. 4 367.1 377.3 387.4 396.8 401.9 403.4 408.3 236. 5 254.0 62.5 65.5 232.2 235.0 237.8 241.1 246.7 251. 8 257.8 259.5 261.7 263.7 29.4 120.9 86.3 35.7 126.2 92. 1 7.8 30.4 24.3 8.5 32.2 24.7 28.5 119.2 84.5 29.2 120.3 85. 5 29.4 121.5 86.9 30.4 122.5 88.3 34.7 122.5 89.5 35.3 125.3 91.2 37.2 127.6 92.9 35.4 129.2 94.9 34.8 130.5 96.4 33.4 132.3 98.0 48.0 60.6 17.0 15.1 45.8 48.2 46.7 51.5 54.7 60.2 62.3 65.1 63.1 64.2 27.9 13.5 14.4 22.4 — 2. 3 32.7 16.6 16.1 23.7 4.2 3.8 7. 1 3.2 3.9 6. 5 3.5 3.5 8.3 3.8 4.4 7.3 -.5 25. 9 11.8 14. 1 22.9 -3.1 -3.3 27.3 13.0 14.3 22.6 —2.2 28.7 14.2 14.4 22.5 -4.5 -5.1 29.5 15.0 14.5 21.7 .2 -.3 31.5 16.1 15.3 21.3 1.9 1.4 32.9 16.9 16.0 22.4 4.9 4.5 33.5 17.2 16.4 25.0 3.7 3.4 33.0 16.2 16.8 25.9 6.1 5.9 32.6 15.3 17.3 26.4 4.1 4.2 33. 1 15.1 18.0 27.5 3.5 3.9 —. 4 -.5 .0 .4 -1.1 -.4 -.9 .2 .1 1.7 76.5 76.8 19.0 19.9 80.8 75.5 75.6 74.2 76.3 76.2 76.5 78.1 78.5 78.7 48.9 43 0 41. 1 1.9 ,3 11.6 10.1 9.6 .5 1.6 ,1 7. 4 11.5 10.2 9.7 54.0 46. 5 44.7 1.9 45.7 40. 1 38.0 2.1 5.9 .3 28.5 46.3 41.3 39.1 2.2 5.5 46.6 41.3 39.4 1.9 5.8 47.2 40.6 38.7 1.9 7.1 46.4 40. 5 38.6 1.9 6.3 46.1 40.7 38.7 2.0 5.8 27! 3 47.7 42.0 40.2 1.9 6.0 .4 28.0 46.8 41.8 39.2 2.6 5.4 8.4 4 2Q.8 48.2 43.2 41.6 1.6 5.4 27.6 46. 7 41.2 39.1 2.2 5.9 .4 30.1 29.5 29.9 29.9 30.9 32.1 32.6 287.3 306.1 78.3 80.2 284.9 285.6 286.9 291.4 295.1 303. 8 309.6 32. 9 29. 1 3.8 35. 5 31.3 4.2 10.2 9.0 1.2 10.4 9.1 1.3 32.7 29.0 3.7 32.8 29.0 3.8 33.0 29. 1 3.8 33.3 29.4 3.9 34.5 30.4 4.1 35.3 31.2 35.9 31.7 36.3 32.0 37.3 32.9 38.1 33.6 _ . . 59.1 12.5 7 2 2.8 2.4 11.; 9. ' GROSS NATIONAL PRODUCT OR EXPENDITURE C»ross national product - _ Personal consumption expenditures "Durable goods Nondurable goods Services - .- Gross private domestic investment New construction Residential nonfarm . ._ Other Producers' durable equipment- . _. __ (Change in business inventories, total Nonfarm onlv Net foreign investment . __ _ _ __ Government purchases of goods and services Federal National security National defense Other national security Other Less: Government sales. __ _ . State a n d local _ . . . - - - - .. - - _ _ _ . . . .. .. - A L5 -.7 .3 DISPOSITION OF PERSONAL INCOME Personal income F/oss* Personal tax and nontax payments Federal .. __ _ _ . _ State and local _. Equals: Disposable personal income _. - .. - _ - _ . _ _ _ _ . Less: Personal consumption expenditures Equals: Personal saving - - 314.6 317.5 322.9 254.4 270.6 68.1 69.9 252.3 252.8 254.0 258.0 260.6 268.5 273.8 278.4 280.2 284.9 236.5 254.0 62.5 65.5 232.2 235.0 237.8 241.1 246.7 251.8 257.8 259.5 261.7 263.7 17.9 16.6 5.6 4.4 20.1 17.8 16.2 16.9 13.9 16.7 15.9 18.8 18.6 21.2 360.7 390.9 98.4 100.9 357.6 358.5 359.4 367.1 377.3 387.4 396.8 403.4 408.3 28.8 30.2 1.4 1.8 31.3 32.5 1.4 1.8 8.2 8.2 .4 -1.0 8.4 8.5 .4 28.0 30.0 1.4 1.9 28.5 30.1 1.4 2.0 29.0 29.9 1.4 1.4 29.6 30.6 1.4 2.1 30.3 31.4 1.4 3.0 31.1 32.4 1.4 1.2 31.7 32.8 1.4 2.7 32.9 33.7 1.4 1.1 33.6 34.1 1.4 .2 .7 RELATION OF GROSS NATIONAL PRODUCT, NATIONAL INCOME, AND PERSONAL INCOME Gross national product _ _ Less* Capital consumption allowances Indirect business tax and nontax liability Business transfer payments Statistical discrepancy _ 2 .3 2 298.3 324.0 82.9 l>ess- Corporate profits and inventory valuation adjustment Contributions for social insurance Excess of wage accruals over disbursements .- 32.9 9.7 .0 40.9 11.1 .0 10.0 3.4 .0 Plus' Government transfer payments Net interest paid by government Dividends Business transfer payments 15.0 5.2 10.0 1.4 16.1 5.2 11.2 1.4 287.3 306.1 Plus: Subsidies less current surplus of government enterprises Equals: National income Equals: Personal income - __ -- 1. Includes noncorporate inventory valuation adjustment. - 32.2 33.4 1.4 .6 .1 .2 .7 328.3 334.4 334.9 40.2 10.9 .5 41.6 11.3 -.6 43.4 11.4 .0 40.9 12.1 .0 12.3 .0 15.9 5.2 10.4 1.4 16.2 5.2 10.7 1.4 16.0 5.2 11.0 1.4 16.3 5.3 12.1 1.4 16.9 5.4 11.8 1.4 17.3 5.5 12.2 1.4 295.1 303.8 309.6 -.5 .2 -.2 -.4 .2 295.8 296,7 297.6 303.1 311.3 3.4 .0 31.7 9.6 .0 32.7 9.7 .0 32.5 9.7 .0 34.7 9.8 .0 38.5 10.6 .1 4.3 1.2 2.9 .4 4.4 1.6 2.8 .4 14.3 5.1 9.7 1.4 14.8 5.2 9.9 1.4 15.0 5.2 10.0 1.4 15.8 5.2 10.3 1.4 78.3 80.2 284.9 285.6 286.9 291.4 401.9 .7 321.9 314.6 Source: U . S . Department of Commerce, Office of Business Economics. 317.5 322.9 BUSINESS STATISTICS X HE 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 significantly revised since publication of the 1955 Supplement are indicated by an asterisk (*) and a dagger (f), respectively. In most instances, the terms "unadjusted" and "adjusted" used to designate index numbers and dollar values refer to adjustment for seasonal variation. Statistics originating in Government agencies are riot copyrighted and may be reprinted freely. Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights. [Averages for the year 1955 are provided in the July 1956 issue of the SURVEY] Unless otherwise stated, statistics through 1954 and descriptive notes are shown in the 1955 edition of BUSINESS STATISTICS 1956 1955 June July August Septem- October Novem- December ber ber January February March April May June July GENERAL BUSINESS INDICATORS NATIONAL INCOME AND PRODUCT Seasonally adjusted quarterly totals at annual ratesrf National income, total. _ _ bil. of doL Compensation of employees, total _ do Wages and salaries, total do Private do Military. _ _ _ _ _ _ _ _ _ _ _ _ do__ Government civilian do Supplements to wages and salaries -do _ Proprietors' and rental income, total cf do Business and professional c? 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 321,9 328.3 334.4 334.9 221.6 226 8 213 6 177 5 3 0 5 7 8 3 233 0 219 4 182 5 26 4 13.2 230 217 180 9 26 13 49.5 27. 1 12 2 10.2 49.0 27 7 11 3 10.0 49 28 11 9 3 0 4 8 49 28 11 9 40 2 41 1 20.7 20 3 — 9 10.6 41 6 43 5 22.0 21 5 —1 9 11.0 209.0 172 9 10.0 26. 1 12.6 9.8 237.2 223. 5 186 2 9.5 27.8 13.8 9.6 27 3 13 6 5 2 5 8 49.9 28.9 11.3 9.7 43 4 46 4 23 4 23 0 30 11.3 40 9 43 7 22 1 21 6 28 11. 5 —3 1 11.7 -do _ 387 4 396 8 401 9 403 4 408 3 Personal consumption expenditures, total Durable goods .. Nondurable goods _ _. Services , _ _do _ do -do do 251 8 35 3 125.3 91 2 257 37 127 92 8 2 6 9 259 35 129 94 5 4 2 9 261 34 130 96 7 8 5 4 263 33 132 98 7 4 3 0 Gross private domestic investment, total New construction - _ _ _ _ Producers' durable equipment _ _ _ _ Change in business inventories. do do _ do do..- 60 2 32.9 22 4 62.3 33.5 25 0 65 33 25 6 1 0 9 1 63 32 26 4 1 6 4 1 64 33 27 3 2 1 5 5 Net foreign investment _. _do Government purchases of goods and services, total bil. ofdolFederal (less Government sales). - ._ do _ National security?--- -do State and local - ._ ___ _ _ _ _ _ do Personal income, total Less: Personal tax and nontax payments Equals: Disposable personal income do . do___ do Personal saving § do 4.9 3.7 -.9 .2 8 1 17 76.2 46.3 41.3 29.9 76.5 46 6 41 3 29 9 78.1 47 2 40 6 30 9 78.5 46 4 40 5 32 1 78.7 46 1 40 7 32 6 303.8 35.3 309 6 35 9 273.8 314 6 36 3 278 4 317 5 37 3 280 2 322 9 38 1 284 9 16.7 15.9 18.8 18 6 21 2 268.5 PERSONAL INCOME, BY SOURCE Seasonally adjusted, at annual rates :f Total personal income _ __ _ ._ bil. of dol 306 0 309 2 308 7 311 0 311 6 314 5 317 5 316 7 317 1 318 6 3^1 7 r 322 8 324 2 Wage and salary disbursements, total , _ _ _ _ do . Commodity-producing industries do Distributive industries.. . do Service industries _._ do _ . _ Government_. do 210.5 91.4 55 3 28.1 35 7 214.5 92.1 56 1 28.6 37 7 213.4 92.1 56 5 28.7 36 1 214.7 92.8 56 9 28 7 36 3 215.3 93.3 56 7 28 9 36 4 217.2 94.2 57 3 29 3 36 4 218 2 94.5 57 6 29 4 36 7 219 0 94.8 57 9 29 5 36 8 218 9 94.7 57 9 29 5 36 8 220 3 95.1 58 4 29 6 37 2 222 9 96.8 59 1 29 8 37 2 r 223 2 96.8 59 1 30 o r 37 3 224 4 97.4 59 4 30 2 37 4 Other labor income _ do Proprietors' and rental income ._ do Personal interest income and dividends do Transfer payments do Less personal contributions for social insurance 7 0 49.4 26.7 17 6 7 1 48.5 26.9 17.5 7 1 49.0 27.1 17 4 7 2 49 4 27.6 17 4 7 2 49 1 27.9 17 4 7 2 49 Q 28.1 17 7 7 3 49 2 7 2 49 7 28.7 18 3 7 2 49 5 28.8 18 5 7 49 29 18 7 2 18 0 7 3 49 4 28.5 18 2 ••29.4 18 7 73 49 9 29.7 18 7 5.2 5.3 5.3 5.3 5.3 5.3 5.4 5.7 5.7 5.7 5.8 5.8 bil. of dol- 30^2 2 7 1 6 5.8 r 50 1 Total nonagricultural income do 294.7 290.4 295.9 293.8 296.9 299.4 302.8 301.6 301.5 304.0 306.8 ' 307. 6 309.4 r Revised. f Revised series. Estimates of national income and product and personal income have been revised back to 1952 (see pp. 7 ft. of the July 1956 SURVEY); for data prior to 1952, see the 1954 NATIONAL INCOME SUPPLEMENT or the 1955 edition of BUSINESS STATISTICS. c? 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. S-l
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