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SUEVEY OF CURRENT BUSINESS

6

November 1957

Table 1.—Gross National Product, National Income, and Personal Income, 1955, 1956, and First Three Quarters 1957
(Billions of dollars)
Unadjusted
1955

Seasonally adjusted at annual rates

1957

1956

1955

I

II

III

1957

1956

I

II

III

IV

I

II

III

IV

I

II

III

GROSS NATIONAL PRODUCT
OR EXPENDITURE
Gross national product

-

_.

391.7

Gross private domestic investment

104.0

107.8

108.4

379.0

387.7

397.0

402.8

405.2

410.8

416.7

426.0

429.1

434.3

439. 0

267.2

65.8

69.7

69.3

247.4

252.1

258.3

259.9

262.8

265.0

268.6

272.3

276.7

278.9

283.6

35.6
126.0
92.8

Durable goods
Nondurable goods
Services
_ __

414.7

254.4

Personal consumption expenditures

33.9
133.3
99.9

8.1
31.6
26.1

8.9
34.4
26.4

8.4
34.8
26.2

34.7
122. 4
90.2

35.3
124.8
92.0

37.2
127.4
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

35.0
142.5
106.1

60.6

Nonfarm only

55.6

59.7

61.4

65.4

64.4

65.3

65.5

68.5

62.7

65.0

65.5

9.1

31.6

32.7

32.9

33.2

32.9

33.6

33.2

33.4

32.8

32.7

33.0

15.3
18.0

2.9
4.2

3.6
4.7

4.0
5.2

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

13.7
19.0

14.0
19.0

28.1

7.5

8.0

7.4

21.3

22.4

25.2

25.9

26.3

27.2

29.0

29.9

30.7

30.5

30.5

4.2

Change in business inventories, total

16.7

8.2

23.7

Producers' durable equipment „

15.4

7.1

16.6
16.1

.

16.5

33.3

4.6

2.0

-.8

.1

2.7

4.6

3.3

6.3

5.2

4.6

3.3

5.1

-.8

1.7

2.0

4.0

Residential nonfarm
Other
-_ . _

65.9

32.7

New construction

5.0

2.1

-.7

.2

2.2

4.2

3.1

6.3

5.4

5.0

3.9

5.7

-.3

2.2

2.3

Net foreign investment

-.4

1.4

1.0

.9

.4

-.4

-.7

.1

-.7

-.2

1.2

2.0

2.4

4.1

3.5

3.2

Government purchases of goods and services

77.1

80.2

20.7

21.8

22.0

76.5

76.6

77.2

78.2

78.2

79.3

80.6

82.8

85.6

86.9

86.7

46.8

47.2

12.6

12.8

12.7

46.9

46.5

46.7

47.1

46.2

46.4

47.3

49.0

50.3

51.1

50.6

41.3

42.4

11.4

11.6

11.5

41.8

41.3

41.3

40.7

41.1

41.6

42.7

44.2

45.5

46.3

45.8

39.1
2.2

40.4
2.0

10.9
.5

11.1
.5

11.0
.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

43.8
2.0

5.9

5.2

1.3

1.3

1.3

5.5

5.6

5.8

6.8

5.5

5.2

4.9

5.1

5.2

5.2

5.2

.4

.4

.1

.1

.1

.4

.4

.4

.4

.4

.4

.4

.4

.4

.4

.4

30.3

33.0

8.1

9.1

9.4

29.5

30.1

30.5

31.1

32.0

32.9

33.3

33.9

35.3

35.8

36.1

Federal
National security
National defense
Other national security.

-

Other
Less* Government sales
State and local
NATIONAL INCOME
BY DISTRIBUTIVE SHARES
National income—

324.1

343.6

87.7

89.8

311.4

321.5

328.3

334.9

335.8

340.6 * 344.5

353.3

355.1

358.1

Compensation of employees

223.1

241.4

62.0

63.3

65.0

214.0

221.3

226.1

230.8

234.5

240.0

242.7

247. 9

251.1

254.0

257.0

Wages and salaries

210.3

227.2

57.9

59 2

61.1

201.8

208.8

213. 0

217.5

220.9

226.1

228.3

233.3

235.9

238.6

241.3

174.4
9.8
26.1

189.4
9.7
28.2

49.4
2.4
7.4

51.3
2.5
7.4

166.9
9.7
25.3

176.9
9.8
26.4

181.1
9.7
26.8

183.9
9.7
27.3

194.7
9.7
28.9

196.8
9.6
29.4

199.1
9.7
29.7

200.9
9.8
30.6

Private
Military
Government civilian

_.

Supplements to wages and salaries

48.1
2.4
7.4

172.8
10.0
26.1

188.4
9.7
27.9

190.1
9.7
28.5

12.7

14. 1

4.1

4.1

3.9

12.2

12.5

13.0

13.2

13.7

13.9

14.4

14.6

15.3

15.4

15.7

Proprietors' and rental income *

49.4

49.9

12.6

12.7

12.8

48.7

49.6

49.6

49.6

49.3

49.7

50.0

50.7

50.3

50.7

51.3

Business and professional— __
Farm
Rental income of persons
Corporate profits and inventory valuation adjustment

27.3
11.9
10.2

28.0
11.6
10.3

7.1
2.9
2.6

7.2
2.9
2.6

7.3
3.0
2.6

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

29.1
11.8
10.4

40.7

40.4

10.0

10.6

38.2

39.9

41.6

43.2

40.5

39.1

39.8

42.4

41.2

40.7

42.5

43.0

10.8

10.8

39.4

40.7

43.6

46.1

43.3

42.4

40.8

45.6

43.9

42.0

21.5
21.0

22.0
21.0

5.5
5.3

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

21.4
20.5

Corporate profits before tax
Corporate profits tax liability
Corporate profits after tax

-1.7

-2.6

-.7

-.3

Q

-1.2

-.9

-2.0

-2.9

-2.8

-3.2

-1.0

-3.2

-2.7

-1.3

-.9

10.9

11.9

3.1

3.2

3.2

10.5

10.7

11.0

11.3

11.5

11.7

12.0

12.3

12.5

12.7

13.0

33.9

36.1

9.4

9.5

9.5

32.9

33.8

34.4

34.5

35.0

35.8

36.6

36.9

37.5

38.0

39.0

305.9

326.9

82.9

85.2

87.3

294.8

303.3

309.4

315.2

325.3

328.7

334.5

337.7

342.8

346.5

35.8

39.7

11.3

11.8

10.6

34.7

35.5

36.2

36.6

38.9

39.5

39.8

40.5

42.2

42.9

43.6

31.5
4.2

35.1
4.6

10.0
1.3

10.3
1.4

9.5
1. 1

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

38.6
5.0

Efluals * Disposable personal income

270.2

287.2

71.6

73.4

76.7

260.1

267.8

273.2

278.6

279.6

285.8

288.8

294.0

295.5

299.9

302.9

Less' Personal consumption expenditures

254.4

267.2

65.8

69.7

69.3

247.4

252.1

258. 3

259.9

262. 8

265.0

268.6

272.3

276.7

278. 9

283.6

15.8

20.0

5.8

3.7

7.4

12.7

15.7

14.9

18.7

16.8

20.8

20.3

21.7

18.9

21.0

19.3

Inventory valuation adjustment
Net interest
Addendum: Compensation of general government employees
PERSONAL INCOME
AND ITS DISPOSITION
Personal income

-

-

-

Less' Personal tax and nontax payments
Federal
State and local

Efllial*!* Persona! saving

-

i Includes noncorporate inventory valuation adjustment.
Source: U. S. Department of Commerce, Office of Business Economics.




318.5

Wlonttfr BUSINESS STATISTICS
JL HE STATISTICS here are a continuation of the data published in the 1957 edition of BUSINESS STATISTICS, biennial Statistical Supplement
to the SURVEY OF CURRENT BUSINESS. That volume (price $2) contains monthly (or quarterly) data for the years 1953 through 1956 and
monthly averages for all years back to 1929 insofar as available; it also provides a description of each series and references to sources of monthly
figures prior to 1953. Series added or significantly revised since publication of the 1957 BUSINESS STATISTICS are indicated by an asterisk (*) and a
dagger (f), respectively; certain revisions for 1956 issued too late for inclusion in the aforementioned volume appear in the monthly SURVEY
beginning with the July 1957 issue. 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,
through the courtesy of the compilers, and are subject to their copyrights.
1956
Unless otherwise stated, statistics through 1956 and
descriptive notes are shown in the 1957 edition of SeptemOctober Novem- DecemBUSINESS STATISTICS
ber
ber
ber

Data from private sources are provided
1957

January

February

March

April

May

June

July

August Septem- October
ber

GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates:
National income, total
bil of dol

344 5

353 3

355 1

358 1

242 7
228.3
190.1
9.7
28.5
14.4

247 9
233.3
194.7

251 1
235.9
196.8

28.9
14.6

29.4
15.3

254 0
238 6
199.1
9 7
29.7
15 4

257.0
241. 3
200.9
9.8
30.6
15.7

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

51.3
29.1
11.8
10.4

39 8
40.8
20 8
19.9
—1 0

42 4
45.6
23 3
22.3
—3 2

41 2
43.9
22 4
21.5
—2 7

do

Compensation of employees total
Wages and salaries, total
Private
_ __ _
Military
Government civilian
_
Supplements to wages and salaries

12.0

12.3

do
do
do
do
do
do

Proprietors' and rental income, totald"
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

9.7

9.6

40
42
21
20
—1

7
0
4
5
3

— 9

12 5

12 7

13.0

do

416.7

426.0

429 1

434 3

439.0

Personal consumption expenditures, total
Durable goods
Nondurable goods
Services

do
do
do
do

268.6
33 0
134.4
101 1

272.
34
135.
102

3
8
3
2

276.7
35 9
137 3
103 4

278.9
35 0
139.1
104 9

283.6
35 0
142.5
106 1

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

do
do
do
do

65.5
33.2
29.0
3.3

68.5
33.4
29.9

62 7
32.8
30 7

65 0
32.7
30.5

65.5
33.0
30.5

—.8

1.7

2.0

2.0

2.4

4.1

3.5

3.2

80.6
47.3
42.7

85 6
50 3
45 5
35.3

86 9
51.1
46 3
35.8

86 7
50 6
45 8
36.1

Gross national product, total

Net foreign investmentdo
Government purchases of goods and services, total
bil of dol
Federal (less Government sales)
do
National security 9
do
State and local __
do

5.1

33.3

82.8
49.0
44 2
33.9

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

do
do
do

328.7
39 8
288.8

334.5
40 5
294.0

337 7
42 2
295.5

342 8
42 9
299.9

346 5
43 6
302.9

Personal saving §

do

20.3

21 7

18 9

21 0

19 3

bil. of dol..

331.1

334.1

334.9

334.8

335.9

337.9

339.5

340.6

342.9

344.8

346.2

346.8

«• 346. 6

345.6

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. 0
64.5
33.4
40 0

241. 7
102.8
64.7
33.7
40 5

' 241. 5
r 102. 2
' 64. 8
33.9
r
40 6

239.9
100.8
64.6
33.9
40.6

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

do
do
do__.
do
do

7.6

7.7
51.3
30.2
18.9

7.7

7.7

49.9
30.1
18.8

50.7
30.4
18.9

50.2
28.5
19.0

50.2
30.7
19.5

50.4
30.8
19.7

50.4
30.9
20.0

7.8

7.9

7.9

50.6
31.0
20.8

50.8
31.2
21.6

50.9
31.2
21.5

51.6
31.4
21.3

5.7

5.8

5.9

5.9

6.7

6.7

6.8

6.7

6.8

6.8

6.9

6.9

316.1
317.7
324.5
325.3
327.5
329.3
319.3
319.6
320.7
322.7
Total nonaericultural income
do
r
Revised.
cf 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.

330.5

331.3

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. _




7.7

7.8

7.8

7.8

8.0

51.2
31.6
21,2

8.0

51.1
'31.6
' 21. 2
6.8
' 331. 3

8.0
51.0
31.7
21.8
6.8

330.3

S-l

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