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SURVEY OF CURRENT BUSINESS

12

April 1974

NATIONAL INCOME AND PRODUCT TABLES
1972
1972

1973

1973

IV

I

II

1974
III

IV

I*

1972
1972

1973

1973

IV

I

Seasonally adjusted at annual rates

II

1974
III

IV

IP

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, 199. 2 1, 242. 5 1,272.0 1,304.5 1,337.5 1,351.8

Durable goods
Nondurable goods
Services

Residential structures
Nonfarm
Farm

_ -

--

Change in business inventories
Nonfarm
Farm
---

844 6

832.0

825.2

844.6

526.8

553.9

540.5

552.7

553.3

558.1

551 3

547.5

130.8
335 9
337.3

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

124.5
362.3
357.8

104.0
220.9
201.8

114.3
228 8
210.7

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

106.0
227 2
214.3

202.1

189.4

194.5

198.2

202.0

213.9

201.8

122.9

132.2

129.1

130.2

130 2

130 8

137 6

126 7

194 2

181.2

189.9

193.7

197.3

195.9

194.0

118.3

126 6

122.8

126.9

126 9

127 7

125 0

121 8

136.2
48 4
87.8

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

144.4
54.3
90.1

83.7
23.0
60.8

92.6
24 9
67.7

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

94 1
27 1
67 0

54.0
53.5
.6

_

841.3

816.0

58.0
57.4
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

49.5
48.9
.7

34.6
34.2
.4

34.0
33.6
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

27 7
27.3
4

6.0
5.6
.4

Nonresidential
Structures
Producers' durable equipment

834.3

795.6

118.2
41.7
76.5

Fixed investment

829.3

779.4

172.3

Gross private domestic investment

812.3

752.6

178.3

---

837.4

804.0

117.4
299.0
309. 2

_

790.7

726.5

Gross national product
Personal consumption expenditures

80
7.3
.6

8.2
7.9
.3

4.6
4.4
2

4.5
4.4
.1

4.7
3.2
1.5

18.0
17.3
.7

7.8
6.8
1.0

4.6
4.5
.1

56
5.2
.3

6.3
6.2
.1

3.3
3.2
.1

34
3.3
.1

30
2.3
.7

12 5
12 1
4

4 9
4 4
.5

Government purchases of goods and services

5.8

.0

2.8

7.6

12.8

9.5

-2.0

6.7

-.8

2.0

5.6

7.4

11.6

11.7

102.0
96.2

79.7
83.2

89. 7
89.7

97.2
94.4

104.5
97.0

116.4
103.6

125.9
116.4

56.4
58.4

67.6
60.9

59.6
60.3

65.3
63.3

66.6
61.1

€7.4
60.0

71 0
59 4

71.7
60.0

255.0

_ .

Exports
Imports

-4.6
73.5
78.1

Net exports of goods and services

277.1

260.7

268.6

275.3

279.0

285.6

295.9

143.0

144.7

143.5

144.4

145.2

145.0

144.1

146.1

111.3
76.2
35.1

60.8

57.1

58.6

58.2

58.2

57.2

54 9

56.3

184.6

82.2

87.6

85.0

86.2

87.0

87.8

89 2

89.8

-3.5

.-

State and local

106.6
73.9
32.7

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

150.5

Federal
National defense
Other

104.4
74.4
30. 1

170.5

158.0

163.0

168.0

172.2

178.8

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 1 199 2 1 242.5 1, 272. 0 1 304 5 1, 337. 5 1 351.8

790.7

837 4

812.3

829 3

834 3

841 3

844 6

832. 0

.. 1, 149. 1 1,281 1 1,191.0 1, 237. 8 1, 267. 5 1, 299. 8 1,319.4 1, 344. 0
4.7
7.8
8.2
4.5
6.0
4.6
18 0
80

Gross national product
Final sales
Change in business inventories

786.1
4.6

831.8
56

806.0
6.3

826.0
3.3

831.0
3.4

838.3
30

832 1
12 5

827.1
4.9

541.4

614 7

563.6

589.6

604.2

622.3

642.6

643.3

423.9

455.9

438.4

452.1

453.9

456 8

460.9

449.1

535.4
6.0

606 7
80

555.4
8.2

585.0
4.6

599 6
4.5

617 6
4.7

624 6
18.0

635.4
7.8

419.3
4.6

450 3
56

432. 1
6.3

448. 7
3.3

450.5
3.4

453 7
3.0

448 4
12 5

444. 1
4.9

Durable goods.
Final sales
Change in business inventories

219. 1
214. 1
4.9

250 1
242 1
80

233.2
222.8
10.4

242.5
238. 1
4.4

249.7
242 4
73

254.3
246 2
8.0

254.2
241 7
12 4

246.0
240.4
5.6

184.1
180.2
3.9

206 2
200 4
58

196.3
188.0
8.2

203.4
200.3
3.2

207.1
201.8
5.4

208.1
202 4
57

206 0
197 2
89

198.0
194.5
3.5

Nondurable goods
Final sales
Change in business inventories

322.3
321.2
1. 1

364.5
364 6
— l

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
56

397.2
395.0
2 2

239.8
239.1
.7

249.7
250 0
— 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
36

251.1
249.6
1 .5

487.3
126.5

534.5
139.9

503.9
131.7

514.8
138.1

527.7
140.1

540 8
141.4

554.7
140.2

569.3
139.3

292.6
74.2

306.0
75.5

298.8
75.1

300.6
76.7

304.1
76.3

308.6
76.0

310.5
73.1

311.7
71.3

Goods output
Final sales
Change in business inventories

Services
Structures

_.

.

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product- . .
Private
Business
Nonfarm
Farm
Households and institutions
Rest of the world ..
General government
Federal
State and local

1, 155. 2 1,289 1 1, 199. 2 1, 242. 5 1,272 0 1 304.5 1, 337. 5 1 351.8

790.7

837.4

812.3

829.3

834.3

841.3

844.6

832.0

1,019.7 1,141.6 1, 060. 0 1, 098. 9 1, 126. 2 1,156.3 1, 184. 9 1, 196. 0

729.5

774.9

750.3

767.1

772.0

778.8

781.7

768.6

975.4 1,090 6 1, 013. 6 1, 050. 5 1 076. 8 1, 105. 2 1 130 1 1, 137. 9
941 0 1 043 0 976 9 1 008 9 1 033 5 1 056 2 1 073 4 1 080.5
57.4
34.4
36.7
41.6
49 0
47 7
43 3
56 7

706.6
682 0
24.6

750 7
727 5
23 2

726.8
702.5
24.2

742.9
718.1
24.8

748.3
725 9
22.4

754.7
733.6
21.2

756.8
732.6
24.2

743.3
720.1
23.2

36.8
7.5

41.1
98

37.8
8. 7

39.3
9. 1

40.5
89

41.8
9 3

42 9
11 9

44.5
13.7

17.4
5.5

18.3
59

17.4
6.2

18.0
6.3

18.2
5.5

18.5
5.5

18.5
6.5

18.8
6.5

135 4
50.3
85. 1

147 5
52 8
94 8

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

155.8
54.8
101.0

61 1
21.8
39.3

62 5
21 3
41 1

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

63.4
21.2
42.2

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



CURRENT BUSINESS STATISTICS

J.HE STATISTICS here update series published in the 1973 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (available from the Superintendent of Documents for $5.15) provides a description of each series, references
to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1969 through 1972 (1962-72 for major quarterly
series), annually, 1947-72; for selected series, monthly or quarterly, 1947-72 (where available). Series added or significantly revised after the 1973
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 1972 issued too late for
inclusion in the 1973 volume appear in the monthly SURVEY beginning with the August 1973 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 1973 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.
1971

Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS

1972

1971

1973
I

II

1972
III | IV

Annual total

I

II

1973
IV

III

1974
IV

IP

1,242.5 1,272.0 1,304.5

I

II

III

Seasonally adjusted quarterly totals at annual rates

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

1,199.2

1,337.5

1,351.8

804.0

650.0

662.2

673.0

683.4

700.2

719.2

734.1

752.6

779.4

795.6

816.0

825.2

844.6

130 8
57.8
54.5

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
51.8
55.0

124.5
48.2
57.1

299 9
62.3
145.3
25 5

335 9
69 7
161.4
29 1

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

349.6
70.8
168.3
30.5

362.3
73.3
174.0
31.7

284.9
39.7
98 5
20.4

309.2
43.8
105 5
21.8

337.3
48 0
114 5
23.4

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

350.0
49.5
118.4
24.1

357.8
50.1
121.3
25.1

_bil. $.. 1,055.5

Gross national product, tojtal..

1, 155. 2 1,289.1

667.2

726.5

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

103.6

46.6
42.1

117.4
52.8
48.1

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

do
do
do
do

278 7
57.0
136.6
23.5

Services, total9
Household operation

do,...
G-">

Personal consumption expenditures, total.. do

Transportation

do.....

Gross private domestic investment, total.. .do
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
do
do
do
do
do ._

Govt. purchases of goods and services, total, do
Federal
do
National defense
do
State and local
do
By major type of product:
Final sales total
Goods total
Durable goods
Nondurable goods ..
Services
Structures

.
..

Change in business inventories
Durable goods
Nondurable goods

1,084.2 1,112.5 1,142.4

153. 2

178.3

202.1

145.5

152.7

153.8

160.8

167.5

174.7

181.5

189.4

194.5

198.2

202.0

213.9

201.8

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

194 2
136 2
48 4
87 8
58 0
57 4
8.0
7.3

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
58.4
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

195.9
141.8
51.7
90.1
54.0
53.4
18.0
17.3

194.0
144.4
54.3
90.1
49.5
48.9
7.8
6.8

.8
66.3
65.5

-4.6
73.5
78.1

5.8
102.0
96.2

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
104.5
97.0

12.8
116.4
103.6

9.5
125. 9
116.4

234.3
98.1
71.6
136.2

255.0
104.4
74 4
150.5

277.1
106.6
73 9
170.5

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

285.6
106.8
73.0
178.8

295.9
111.3
76.2
184.6

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 1,319.4
617.6
624.6
585.0 599.6
495.2 501.1 515.2 531.0 539.9 555.4
482.1 485.9
246.2 241.7
222.8 238.1 242.4
205.5
216.8
196.2
211.4
188.1
187.4
192.8
382.8
294.7
297.8 302.4 304.9 309.7 319.6 323.1 332.5 346.9 357.3 371.4
540.8
554.7
450.8 460.9 471.8 481.5 491.8 503.9 514.8 527.7
433.9 444.0
141.4
140.2
126.2
131.7
138.1
140.1
113.2
123.8
124.4
117.0
104.1
109.3
4.7
18.0
8.2
4.6
1.7
5.5
8.7
4.5
7.0
7.6
4.3
5.3
8.0
12.4
8.0
10.4
4.4
3.2
6.8
.4
7.3
4.2
-.9
.7
4.1
8.0
-3.4
5.6
-2.2
.3
2.9
6.2
-2.8
1.3
2.3
2.9
3.4
3.7

1,344.0
635.4
240.4
395.0
569.3
139.3

do . 1,049.4
491.1
do
191.1
do
299.9
do
447.4
do
110.9
do
.do
do
do

1,027.2 1,046.9 1,063.5

6.1
2.0
4.1

1, 149. 1 1,281.1
535.4
606.7
214 1 242.1
321.2
364.6
487.3 534.5
126.5
139.9
6.0
4.9
1.1

7.8
5.6
2.2

GNP in constant (1958) dollars
745.4

790.7

837.4

735.1

740.4

746.9

759.0

768.0

785.6

796.7

812.3

829.3

834.3

841.3

844.6

832.0

496. 3

526.8

553.9

489.5

493.6

498.0

504.1

512.5

523.4

531.0

540.5

552.7

553.3

558.1

551.3

547.5

do
do
do

92.2
211.6
192.4

104.0
220.9
201.8

114.3
228.8
210.7

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

108.7
228.3
214.3

106.0
227.2
214.3

Gross private domestic investment, total.. .do

Gross national product, total

bil. $. -

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

110.3

122.9

132.2

106.6

110.3

109.5

114.8

116.5

121.0

124.8

129.1

130.2

130.2

130.8

137.6

126.7

Fixed investment
Nonresidential
Residential structures
Change in business inventories

do
do
do
do

105.0
76.1
29.0
5.3

118.3
83.7
34.6
4.6

100.7
126.6
74.8
92.6
25.9
34.0
5.8
5.6 '

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

125.0
94.5
30.5
12.5

121.8
94.1
27.7
4.9

Net exports of goods and services

do

.4

-2.0

2.4

-.2

.8

-1.6

-3.7

-2.8

-.9

-.8

2.0

5.6

7.4

11.6

11.7

141.8
58.8
83.0

143.5
58.6
85.0

144.4
58.2
86.2

145.2
58.2
87.0

145.0
57.2
87.8

144.1
54.9
89.2

146.1
56.3
89.8

6.7

138.4
143.0
Govt. purchases of goods and services, total .do
144.7
60.9
60.8
57.1
Federal
.. do
82.2
77.5
87.6
State and local
do
Revised.
* Preliminary. 9 Includes data not shown separately.


http://fraser.stlouisfed.org/S-l
; O - 74 Federal Reserve Bank of St. Louis

136.7
60.1
76.6

136.7
59.9
76.8

138.6
61.1
77.5

141.6
62.5
79.1

142.7
63.0
79.7

144.0
62.9
81.1

S-l

SURVEY OF CURRENT BUSINESS

S-2
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS

1971

|

1973

1972

1971

II

Annual total

April 1974

1972

IV

III

I

II

1973

III

IV

I

1974

II

III

IV

I"

II

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
Implicit price deflators:
Gross national product
Index, 1958=100
Personal consumption expenditures.
do
Gross private domestic investment:
Fixed investment
do
Nonresidential.
.
do
Residential structures
do
Govt. purchases of goods and services do
National income, total

bil. $..

Compensation of employees, total

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

-

146. 10
137.9

153. 94
145.2

141. 40
134.2

142. 39
135.2

142. 85
135.6

144. 85
136.6

145. 42
137.4

146. 42
138.2

147.63
139.2

149. 81
141.0

152. 46
143.8

155.06
146.2

158. 36
149.7

162. 48
154.3

140.1
137.3
147.5
169.2

145.7
141.3
156.3
178.3

153.3
147.1
170.5
191.6

139.7
137.1
146.7
169.4

141.7
138.5
149.6
169.9

141.3
137.8
149.9
171.0

143.6
140.0
152.4
175.4

145.0
141.1
154.4
176.6

146.3
141.8
157.0
179.6

147.6
142.1
161.2
181.6

149.7
143.5
165.6
186.0

152.7
146.5
168.6
189.6

154.4
148.1
171.6
192.5

156.7
150.0
177.1
198.2

159.2
153.4
179.0
202.5

869.4

941.8

l, 053.9

853.6

865.6

882.7

911.0

928.3

949.2

978.6

1,015.0

1,038.2

648.8

661.2

684.3

699.6

713.1

731.2

757.4

774.9

794.0

814.7

826.6

632.5
497.5
20.0
115.1
80.5

648.7
610.9
20.1
117.7
82.5

666.7
525.1
20.9
120.7
90.8

682.3
538.7
20.5
123.1
92.6

699.3
553.2
20.4
125.7
94.7

717.2
566.9
21.3
129.1
97.5

726.0
573.1
21 2
131.7
100.6

81.5
67.1
24.4
24.6

85.0
57.9
27.1
25.3

89.8
58.5
31.3
25.7

88.2
59.1
29. 1
25.8

644.1

f

707.1

785.2

638.8

1,067.4 1,095.1

do
do. ..
do
do
do

573.8
449.7
19 4
104 7
70.3

627.3
493.3
20 3
113 8
79.7

691.4
546.0
20 8
124.6
93.9

569.3
446.3
19 3
103.6
69.6

577.6
452.3
18 9
106 3
71.1

588.6
461.7
19.6
107.3
72.6

607.3
476.4
20.9
110.0
77.0

620.8
488.4
20.1
112.3
78.9

do
do
do
- _ -_do_ _.

68 7
51.9
16 8
24.5

74.2
54.0
20 2
24.1

84.2
57.5
26.8
25. 1

68 3
61.7
16 6
24.7

68 6
52.3
16 3
24 7

70.2
52.7
17.5
24.4

72.5
53.1
19.5
24.1

73.2
53.3
19.9
22.6

74.1
54.3
19.8
24.9

77.1
55.3
21.8
24.9

80.6
56.3
24.3
24.7

80.1

91.1

109. 0

80.5

80 9

83.4

86.2

88.0

91.5

98.8

104.3

107.9

112.0

••111.9

15 2
64.9
32.5
17 8
14.7

17 5
73.6
40.1
20 0
20.2

••21. 7
r
87.3
r
50. 8
r
24.2
r
26.6

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

'23.2
'88.7
49.2
24.9
24.4

86
23.9

93
24.2

r

9 3
27.3

91
23.9

91
24 1

79
25.7

85
23.8

8.9

9.8

9.9

9.2

8.5

23.1

24.1

25.7

25.6

25.6

10.3
27.5

30.4

do
do..
do
-do
do

85 1
37.4
47 6
25.1
22 5

98 0
42.7
65 4
26.0
29 3

126 3
r
55.8
r 70 4
27.8
r
42 6

85 5
38.4
47 1
25 1
22 0

87
38
49
25
23

0
0
0
2
7

86 9
36.4
50 6
24.9
25 7

92 8
40.6
52 2
25!7
26 5

94.8
41.4
53 4
25.9
27.5

98.4
42.9
55 6
26.2
29.4

106.1
45.9
60 3
26.4
33.9

119.6
52.7
66.9
26.9
40.0

128.9
57.4
71.6
27.3
44.2

129.0
57.6
71.5
28.1
43.4

•• 127. 4
••55.7
••71.6
29.0
••42.6

do
do.

—4.9
42.0

-6.9
45.2

—17.3
50.4

—5 0
41.4

—6 1
42 7

-3.6
43.5

-6.6
43.9

-6.7
44.8

-6.9
45.7

-7.3
46.6

-15.4
47.9

-21.1
49.4

—17.0
51.1

-15.5
53.0

-30.9
55.0

1,047.1 1,078.9
161.1
156 0
917.8
891.1
850.8
840.1
67.1
51.1

1,093.9
163 4
930.5
869.9
60.6

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
Corporate profits tax liability
Corporate profits after tax
Dividends
Undistributed profits

141.60
134.4

Inventory valuation adjustment
Net interest
.-

r

r

9.1

29.5

DISPOSITION OF PERSONAL INCOME
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total

bil. $

Equals' Disposable personal income
Less* Personal outlays®
Equals" Personal savingS

do
do
do

863 5
117 5
746 0
685 8
60 2

939.2
142 2
797 0
747.2
49 7

1 035 4
152 9
882 5
827 8
54 8

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
64.4

996 6
145 1
851 5
801.5
60 0

1,019.0
149.3
869.7
818.7
51.0

bil. $
do. . .
do
-do .

81.21
29.99
14.15
15.84

88 44
31.35
15 64
15.72

99.74
38.01
19.25
18.76

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

28.48
11.43
5.84
5.59

123.92
9.38
4.85
4.54

127.83
11.14
5.54
5.60

_ .do

51.22

57.09

61.73

13.06

12.83

14.35

12.77

14.38

15.57

15.42

17.05

14.54

16.69

do
do
do
do

2.16
1.67
1.88
1.38

2 42
1.80
2.46
1.46

2.74
1.96
2.41
1.66

.54

65

.59

.58

.75

.80

NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
Manufacturing
Durable goods industries 1
Nondurable goods industries 1
Nonmanuf acturing
Mining
Railroad..
Air transportation
Other transportation

.47
.60
.36

.42
39
.37

.45
.66
.37

.48
.60
.32

14.12

16.83

13.69

.61

.69

.63

.63

.39

.35

.48
.73

.38
.61

.47
.63
.40

.71

.46
.52

.46
.72

.32

.43

.69

.71

.60
.65

.48
.57

.56
.60

.44

.47

.39

.41

4.82
4.04

4.52
3.99

5.39
4.48

.53

.91

27.90

28.83

.50
.48

3.63
3.19

4.24
3.61

4.39
3.67

4.74
4.01

3.95
3.45

4.59
3.91

2.84
5.26

2 72
4.55

2.95
4.98

2.84
4.97

3.39
5.57

2.87
4.94

3.27
5.40

3.19
5.24

5.36
4.54
•-.82
3.53
5.83

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

96.19
35.51
17.88
17.63

97.76
36.58
18.64
17.94

100.90
38.81
19.73
19.08

103.74
40.61
20.48
20.13

51.50

51.56

52.82

66.70

56.75

56.70

58.30

60.68

61.18

62.09

63.12

64.44

65.49

2.08
1.88
2.28
1.40

2.23
1.72
1.68
1.48

2.30
1.64
2.26
1.33

2.42
2.10
1.96
1.48

2.38
1.88
2.89
1.53

2.40
1.50
2.67
1.41

2.46
1.71
2.33
1.42

2.59
2.11
2.21
1.53

2.77
1.75
2.72
1.62

2.82
1.95
2.49
1.79

2.76
2.05
2.20
' 1.73

3.10
2.26
2.03
1.78

3.14
2.32
2.44
1.57

14.91
15.87
Public utilities
-do
12.61
13.56
Electric
do
2.30
2.30
Gas and other
...do
Communication
do
17. 72
17.85
Commercial and other
do
p
Revised.
* Preliminary.
1 Estimates (corrected for systematic biases) for Jan.Mar. and Apr.-June 1974 based on expected capital expenditures of business. 2Expected
expenditures for the year 1974 appear on p. 22 of the March 1974 SURVEY.
Includes
communication.
9Includes inventory valuation adjustment.
©Personal outlays comprise personal consumption expenditures, interest paid by consumers, and personal transfer
payments to foreigners.

15.74
13.01
2.74

16.92
14.27
2.65

16.60
14.32
2.27

17.53
14.67
2.86

19.88

18.08
15.55
2.52
12 70
21.55

18.58
16.00
2.58
13 12
21.36

19.80
16.72
3.08
13 24
21.35

21.20
17.80
3.40

20.10

18.38
15.40
2.98
12 34
21.53

21.00
17.84
3.16

19.10

17.01
14.62
2.38
U fC
20.16

234.27

234.82

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




4.07
3.35

4.29
3.60

2.81
4.44

2 62
4.42

do
do
do
do

81.61
30.12
14.06
16.06

do
do
do
do
do

do
do .
do
do
do

15.30
12.86
2.44
10 77
18.05

17.00
14.48
2.52
11.89
20.07

18.71
15.91
2.76
12.85
21.40

3.83
3.20

.63

.71

.69

.44

.62

.72

.73

1 9 fi<l

20.21

.50

.68

.77

U07.18 i 109.96
44.47
42.74
22.18
22.12
22.29
20.62

§ Personal saving is excess of disposable income over personal outlays.
IfData for individual durable and nondurable goods industries components appear in the
c
Mar., June, Sept., and Dec. issues of the SURVEY.
Corrected

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