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SUEVEY OF CUEEENT BUSINESS

Ally-list 1957

Table 1.—Gross National Product, National Income, and Personal Income, 1955, 1956, and First Half 1957
[Billions of dollars]
Seasonally adjusted at annual rates

Unadjusted

1955

1956

1956

1955

1957
I

II

I

II

III

107.8

IV

1957

I

II

III

IV

I

II

GROSS NATIONAL PRODUCT OR EXPENDITURE
Gross national product,.

391.7

Producers' durable equipment
Change in business inventories, total .._
Nonfarm only

402.8

405.2

410.8

416.7

426.0

429.1

434.3

252.1

258.3

259.9

262.8

265.0

268.6

272.3

276.7

278.9

35.6
126.0
92.8

33.9
133.3
99.9

8.1
31.6
26.1

8.9
34.4
26.4

34.7
122.4
90.2

35.3
124.8
92.0

37.2
127 A
93.7

35.4
129.2
95.3

34.6
130.9
97.2

33.3
132.7
99.0

33.0
134.4
101.1

34.8
135.3
102.2

35.9
137.3
103.4

35.0
139.1
104.9

65.9

16.5

15.4

55.6

59.7

61.4

65.4

64.4

65.3

65.5

68.5

62.7

65.0

33.3

7.1

8.2

31.6

32.7

32.9

33.2

32.9

33.6

33.2

33.4

32.8

32.7

15.3
18.0

2.9
4.2

3.6
4.7

16.3
15.3

16.8
15.9

16.7
16.2

16.4
16.8

15.7
17.3

15.5
18.1

15.1
18.1

15.1
18.4

14.4
18.5

13.9
18.9

28.1

7.5

8.0

21.3

22.4

25.2

25.9

26.3

27.2

29.0

29.9

30.7

30.5

4.2
4.0

Residential nonfarm
Other

397.0

247.4

23.7

New construction

387.7

69.7

16.6
16.1

Gross private domestic investment

379.0

65.8

32.7

___

104.0

267.2

60.6

Durable goods
Nondurable goods
Services

414.7

254.4

Personal consumption expenditures

4.6
5.0

2.0
2.1

-.8
-.7

2.7
2.2

4.6
4.2

3.3
3.1

6.3
6.3

5.2
5.4

4.6
5.0

3.3
3.9

5.1
5.7

-.8
-.3

1.7
2.2

-.4

-.7

.1

-.7

2

1.2

2.0

2.4

4.1

3.5

21.8

76.5

76.6

77.2

78.2

78.2

79.3

80.6

82.8

85.6

86.9

12.6

12.8

46.9

46.5

46.7

47.1

46.2

46.4

47.3

49.0

50.3

51.1

11.4

11.6

41.8

41.3

41.3

40.7

41.1

41.6

42.7

44.2

45.5

46.3

40.4
2.0

10.9
.5

11.1
.5

39.2
2.6

39.0
2.3

39.4
1.8

38.7
2.0

39.1
2.0

39.5
2.1

40.9
1.9

42.0
2.2

43.6
1.9

44.2
2.1

5.2
.4

1.3
.1

1.3
.1

5.5
.4

5.6
.4

5.8
.4

6.8
.4

5.5
.4

5.2
.4

4.9
.4

5.1
.4

5.2
.4

5.2
.4

8.1

9.1

29.5

30.1

30.5

31.1

32.0

32.9

33.3

33.9

35.3

35.8

355.1

Net foreign investment

-.4

1.4

1.0

Government purchases of goods and services

77.1

80.2

20.7

46.8

47.2

41.3

42.4

39.1
2.2
5.9
.4

Federal
National security
National defense
Other national security
Other.
. _ ...
Less: Government sales
State and local

30.3

33.0

.9

NATIONAL INCOME BY DISTRIBUTIVE SHARES
National income

324.1

343.6

87.7

311.4

321.5

328.3

334.9

335.8

340.6

344.5

353.3

Compensation of employees

223.1

241.4

62.0

63.2

214.0

221.3

226.1

230.8

234.5

240.0

242.7

247.9

251.1

Wages and salaries

210.3

227.2

57.9

59.2

201.8

208.8

213.0

217.5

220.9

226.1

228.3

233.3

235.9

238.2

174.4
9.8
26.1

189.4
9.7
28.2

48.1
2.4
7.4

49.4
2.4
7.4

166.9
9.7
25.3

172.8
10.0
26.1

176.9
9.8
26.4

181.1
9.7
26.8

183.9
9.7
27.3

188.4
9.7
27.9

190.1
9.7
28.5

194.7
9.7
28.9

196.8
9.6
29.4

198. 8
9.7
29.7

Private
Military
_
_
Government civilian

_

Supplements to wages and salaries

12.7

14.1

49.4

49.9

_

27.3
11.9
10.2

28.0
11.6
10.3

7.1
2.9
2.6

Corporate profits and inventory valuation adjustment

40.7

40.4

42.5

43.0

21.5
21.0

Proprietors' and rental income *
Business and professional
Farm
Rental income of persons
Corporate profits before tax
Corporate profits tax liability
Corporate profits after tax

253. 6

12.2

12.5

13.0

13.2

13.7

13.9

14.4

14.6

15.3

15.4

48.7

49.6

49.6

49.6

49.3

49.7

50.0

50.7

50.3

50.7

26.7
11.7
10.4

27.3
12.1
10.2

27.6
11.9
10.1

27.8
11.7
10.1

27.7
11.4
10.2

28.0
11.5
10.3

28.2
11.5
10.4

28.3
12.0
10.4

28.4
11.5
10.4

28.7
11.7
10.4

10.0

38.2

39.9

41.6

43.2

40.5

39.1

39.8

42.4

41.2

10.8

39.4

40.7

43.6

46.1

43.3

42.4

40.8

45.6

43.9

22.0
21.0

5.5
5.3

20.0
19.5

20.6
20.1

22.1
21.5

23.4
22.7

22.1
21.2

21.6
20.7

20.8
19.9

23.3
22.3

22.4
21.5

4.1

12.6

4.1

12.7
7.2
2.9
2.6

-2.6

-.7

-.3

-.9

-2.0

-2.9

-2.8

-3.2

-1.0

-3.2

2 7

Net interest

10.9

11.9

3.1

3.2

10.5

10.7

11.0

11.3

11.5

11.7

12.0

12.3

12.5

12.7

Addendum: Compensation of general government employees

33.9

36.1

9.4

9.5

32.9

33.8

34.4

34.5

35.0

35.8

36.6

36.9

37.5

38.0

305.9

326.9

82.9

85.1

294.8

303.3

309.4

318.5

325.3

328.7

334.5

337.7

342.4

35.8

39.7

11.3

11.8

34.7

35.5

36.2

36.6

38.9

39.5

39.8

40.5

42.2

42.9

31.5
4.2

35.1
4.6

10.0
1.3

10.3
1.4

30.6
4.1

31.3
4.2

31.9
4.3

32.3
4.3

34.4
4.5

35.0
4.5

35.2
4.6

35.8
4.7

37.4
4.9

38.0
4.9

Inventory valuation adjustment

-1.7

-1.2

-1.3

PERSONAL INCOME AND ITS DISPOSITION
Personal income
Less* Personal tax and nontax payments
Federal
State and local
Equals : Disposable personal income

- ..
_.

270.2

Less* Personal consumption expenditures
Equals: Personal saving

315.2

-

71.6

73.3

260.1

267.8

273.2

278. 6

279.6

285.8

288.8

294.0

295.5

299.5

267.2

65.8

69.7

247.4

252.1

258.3

259.9

262.8

265.0

268.6

272.3

276.7

278.9

15.8

--

287.2

254.4

_

20.0

5.8

3.6

12.7

15.7

14.9

18.7

16.8

20.8

20.3

21.7

18.9

20.6

1. Includes noncorporate inventory valuation adjustment.
Source: U. S. Department of Commerce, Office of Business Economics.
Errata in July 1957 SURVEY, National Income Number
Page 29: table 45, line 1, figure for fourth quarter should read "426.0".




Pages 30 and 31: table 51, figures in line 11 are combined totals for lines 10, 11, and 12.
Figures in lines 16 and 17 should be transposed. Combined totals for
lines 17,18, and 19 will be the figures in line 17 after correcting for transpositions.

BUSINESS STATISTICS
THEISTATISTICS 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. Except
as otherwise stated, the terms "unadjusted" and "adjusted" refer to adjustment for seasonal variation.
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.
[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

1957

1956

July

June

August Septem- October Novem- December
ber

January

February

March

April

May

June

July

GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates :t
National income total
bil of dol
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, totalcT
do
Business and pro fessionalc?
_ __
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

340 6

344 5

353 3

355 1

240 0
226.1
188 4
9.7
27 9
13.9

242 7
228 3
190 1
97
28 5
14 4

247 9
233 3
194 7
97
28 9
14 6

251 1
235.9
196 8
9.6
29 4
15.3

253 6
238 2
198 8
9.7
29 7
15.4

49.7
28.0
11.5
10 3

50.0
28.2
11 5
10 4

50. 7
28.3
12 0
10 4

50.3
28.4
11.5
10 4

50.7
28.7
11.7
10 4

39.1
42.4
21.6
20.7
-3.2
11.7

39.8
40 8
20.8
19 9
-1.0
12 0

42.4
45 6
23.3
22 3
12 3

41.2
43.9
22.4
21.5
-2.7
12.5

-1.3
12.7

o n

do

410.8

416.7

426 0

429.1

434.3

Personal consumption expenditures, total
Durable goods_.
Nondurable goods
Services
-

do
do
do
do

265.0
33.3
132 7
99.0

268 6
33.0
134 4
101.1

272 3
34.8
135 3
102 2

276.7
35.9
137 3
103.4

278 9
35.0
139 1
104.9

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

do
do
do
do

65.3
33 6
27.2
46

65.5
33 2
29.0
33

68
33
29
5

62.7
32 8
30.7
— 8

65.0
32 7
30.5
17

Gross national product total

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

1.2

2 4

20

79.3
46 4
41 6
32 9

80
47
42
33

5
4
9
1

82
49
44
33

6
3
7
3

4.1

3.5

8
0
2
9

85.6
50 3
45.5
35 3

86.9
51 1
46.3
35 8

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

-

do
do
do

325 3
39.5
285 8

328 7
39 8
288 8

334 5
40.5
294 0

337 7
42.2
295 5

342 4
42.9
299.5

Personal saving§

__do

20.8

20.3

21.7

18.9

20.6

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

bil. of dol- ,

326.8

325.6

329.3

331.1

334.1

334.9

334.8

335.9

337.9

339.5

340.6

342.9

'344.8

345.5

do
do
do
do
do

227.3
98.1
60.3
31.0
37 9

225.7
96.3
60.2
31.2
38 0

228.8
98.6
60.5
31 5
38 2

230.4
99.6
60.9
31.5
38 4

231.8
100.8
60.8
31 8
38 4

233.1
101.2
61.4
31.9
38 6

235.3
102.7
61.6
32.2
38 8

234.5
101.4
62.0
32.2
38 9

235. 9
102.0
62.4
32.4
39 1

237.2
102.3
63.0
32.6
39 3

237.1
102.4
62.7
32.9
39 1

238.3
102.4
63.4
33.0
39 5

' 240. 1
' 103. 3
'63.8
'33.2
' 39 8

240.9
103.3
64.2
33.4
40.0

75
49.7
29.5
18 5

75
49.9
29.7
18 5

76
50.1
29.9
18 7

76
49.9
30.1
18 8

77
51.3
30.2
18 9

77
50.7
30.4
18 9

7 7
50.2
28.5
19 0

7 7
50.2
30.7
19 5

78
50.4
30.8
19 7

78
50.4
30.9
20 0

78
50.6
31.0
20.8

7.8
50.8
31.2
21.6

79
'50.9
31.2
21.5

7 9
51.0
31.3
21.2

5.7

5.7

5.8

5.7

5.8

5.9

5.9

6.7

6.7

6.8

6.7

6.8

6.8

6.8

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- -

330.1
319.3
325.3
327.5 '329.3
Total nonagricultural income
do
319.6
320.7
322.7
312. 0 i 310.7
314.1
316.1
324.5
317.7
'Revised.
tRevised series. Estimates of national income and product and personal income have been further revised back to 1954 (all revisions—beginning with 1952—appear on pp. 5 fl. of the July
1957 issue of the SURVEY); for data prior to 1952, see the 1954 NATIONAL INCOME SUPPLEMENT or the 1955 edition of BUSINESS STATISTICS.
cflncludes 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.

43398&0—57-




S-l

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