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SURVEY OF CURRENT BUSINESS

6

May 195$

Table 1.—Gross National Product, National Income, and Personal Income, 1956,1957, and First Quarter 1958
[Billions of dollars!
Seasonally adjusted at annual rates

Unadjusted

1956

II

I

1956

1958

1957

1957

III

I

IV

I

II

1957
III

IV

I

II

19S&

III

IV

1

GROSS NATIONAL PRODUCT
OR EXPENDITURE
- -

Personal consumption expenditures
Durable goods
Nondurable goods
Services

414.7

434.4

104.2

108.1

108.7

113.3

102.2

405.2

410.8

416.7

426.0

429.9

435.5

440.0

432. 6

422L&

267.2

280.4

65.8

69.7

69.3

75.6

67.2

262.8

265.0

268.6

272,3

276.7

278.9

283.6

282.4

28L_

33.9
133.3
99.9

Gross national product

35.1
139.9
105.4

8.1
31.6
26.1

8.9
34.4
26.4

8.4
34.8
26.2

9.7
39.2
26.6

7.0
32.8
27.4

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

34.4
14ft 8
107.2

SL5
141.5
108.2

65.9

64.4

16.7

15.7

16.9

14.9

13.5

64.4

65.3

65.5

68.5

63.6

66.2

66.5

6L3

51.8

New construction
Residential nonf arm
Other
—

33.3
15.3
18.0

33.2
14.2
19.0

7.1
2.9
4.2

8.2
3.6
4.7

9.1
4.0
5.2

8.7
3.7
5.0

7.2
2.9
4.3

32.9
15.7
17.3

33.6
15.5
18.1

33.2
15.1
18.1

33.4
15.1
18.4

32.8
14.4
18.5

32.7
13.7
19.0

33.0
14.0
19.0

34.0
14.5
19.5

33.3
14.3
19.0

Producers' durable equipment. .

28.1

30.4

7.5

8.0

7.4

7.4

6.8

26.3

27.2

29.0

29.9

30.7

30.5

30.5

30.0

27.5

4.6
5.0

.8
.2

2.2
2.1

-.6
-.7

.4
.2

-1.2
-1.4

-.5
-.4

5.2
5.4

.0
-.3

2.9
2.2

3.0
2.3

-2.7
-3.4

-9.0
-8.8

Gross private domestic investment

Change in business inventories, total
Nonfarm only

4.6
5.0

3.3
3.9

5.1
5.7

1.4

National defense
Other national security

_. _.

Other

State and local

...

.9

.4

.9

.4

-.2

1.2

2.0

2.4

4.1

3.5

3.2

2.0

1.5

21.8

22.0

21.8

21.1

78.2

79.3

80.6

82.8

85.6

86.9

86.7

87.0

87.5

50.4

12.6

12.8

12.7

12.4

12.4

46.2

46.4

47.3

49.0

50.3

51.1

50.6

49.7

49.5

45.7

11.4

11.6

11.5

11.3

11.2

41.1

41.6

42.7

44.2

45.5

46.3

45.8

45.0

44.8

40.4
2.0

43.7
2.0

10.9
.5

11.1
.5

11.0
.5

10.8
.5

10.7

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

43.0
2.0

42.9
1.9

5.2

1.3

1.3

1.3

1.3

1.3

5.5

5.2

4.9

5.1

5.2

5.2

5.2

5.0

5.1

.4

National security

1.0

20.7

5.2

Federal

3.2

86.4

42.4

Government purchases of goods and services.-.

80.2
47.2

Net foreign investment

.4

.1

.1

.1

33.0

36.0

8.1

9.1

9.4

9.4

8.7

32.0

32.9

33.3

33.9

35.3

35.8

36.1

37.3

38.0

r

NATIONAL INCOME
BY DISTRIBUTIVE SHARES
343.6

358.2

87.8

89.9

91.1

89.4

335.8

340.6

344.5

353.3

355.6

358.5

362.6

356.1

Compensation of employees

241.4

254.4

62.0

63.3

65.0

64.1

61.8

234.5

240.0

242.7

247.9

251.1

254.0

257.0

255.3

250.5

Wages and salaries

227.2

238.8

57.9

59.2

61.1

60.6

57.7

220.9

226.1

228.3

233.3

235.9

238.6

241.3

239.5

235. 1

189.4
9.7
28.2

199.0
9.7
30.1

48.1
2.4
7.4

49.4
2.4
7.4

51.3
2.5
7.4

50.2
2.4
8.0

47.5
2.3
7.8

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

199.1
9.7
29.7

200.9
9.8
30.6

199.1
9.5
30.8

194. 5
9.4
31.2

National income

Private
Military
Government civilian

_

14.1

Corporate profits tax liabilitv
Corporate profits after tax

3.9

3.6

4.1

13.7

13.9

14.4

14.6

15.3

15.4

15.7

15.8

15.4

12.8

12.9

12.8

12.7

49.3

49.7

50.0

50.7

50.9

51.2

51.7

51.3

51.0

28.7
12.1
10.4

7.1
3.0
2.6

7.2
3.0
2.6

7.3
3.0
2.6

7.2
3.1
2.6

7.0
3.2
2.6

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
12.0
10.4

28.7
12 1
10.4

29.1
12.2
10.4

28.6
12.2
10.4

27.9
12.8
10.3

40 4

39 7

10.0

10.6

9.9

9.1

40.5

39.1

39.8

42.4

41.2

40.7

40.9

36.3

41.2

10.8

10.8

10.3

9.3

43.3

42.4

40.8

45.6

43.9

42.0

41.8

37.5

22.0
21.0

Corporate profits before tax

4.1

12.7

43.0

Corporate profits and inventory valuation
adjustment

4.1

51.2

28.0
11.6
10.3

Business and professionalFarm
_
Rental income of persons

15.6

49.9

Supplements to wages and salaries
Proprietors' and rental income l

21.0
20.2

5.5
5.3

5.5
5.3

5.3
5.0

4.7
4.6

22.1
21. 2

21.6
20.7

20.8
19.9

23.3
22.3

22.4
21.5

21.4
20.5

21.3
20.4

19.1
18.3

g

-2.6

-1.5

-2.8

-3.2

-3.2

-2.7

Net interest

11 9

12 8

3.1

3.2

3.2

3.3

3.4

11.5

11.7

12.0

12.3

12.5

12.7

13.0

13.3

13.4

Addendum: Compensation of general govern
ment employees. _

36.1

38.4

9.4

9.5

9.5

9.9

9.8

35.0

35.8

36.6

36.9

37.5

38.0

39.0

39.0

39.1

326.9

343 4

83.0

85.3

87 4

87.7

84.

318.5

325.3

328.7

334.5

338.3

343.2

346.9

345.5

342.5

39.7

42.8

11.3

11.8

10.6

9.1

10.

38.9

39.5

39.8

40.5

42.2

42.9

43.6

43.4

42.4

35.
4.

37.8
5.0

10.0
1.3

10.3
14

9.5
1.1

8.0
1.1

9.
1.

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

38.3
5.1

37.1
5.3

Inventory valuation adjustment

-.3

-1.0

-1.3

-1.2

-.5

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

..

287.2

300.

71.7

73.5

76.8

78.6

73.

279.6

285.8

288.8

294.0

296.1

300.4

303.3

302.1

300.1

267.

280,4

65.8

69.7

69.3

75.6

67.

262.8

265.0

268.6

272.3

276.7

278.9

283.6

282.4

281.2

20.

20.

59

3.8

7.5

3.0

6.

16.8

20.8

20.3

21.7

19.5

21.4

19.7

19.8

18.9

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




WlonAlr BUSINESS STATISTICS
[Annual averages (or totals) for 1957 are provided herein; see reference note on p. 3 regarding data for April 1958.]
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.
Unless otherwise stated, statistics through 1956 and
descriptive notes are shown in the 1957 edition of
BUSINESS STATISTICS

Data from private sources are provided
1958

1957

March

April

May

June

July

Novem- Decem- Annual
August Septem- October
ber
total
ber
ber

January

February

March

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

355 6

358 5

362 6

356 1

358 2

251.1
235 9
196.8
9 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

255
239
199
9
30
15

3
5
1
5
8
8

254
238
199
9
30
15

4
8
0
7
1
6

250.5
235 1
194.5
9 4
31.2
15 4

50 9
28.4
12 0
10 4

51 2
28.7
12 1
10 4

51 7
29.1
12 2
10 4

51
28
12
10

3
6
2
4

51
28
12
10

2
7
1
4

51.0
27.9
12.8
10 3

41.2
43.9
22.4
21 5
—2.7

40 7
42.0
21 4
20 5
— 1.3

40 9
41.8
21 3
20 4
— .9

36
37
19
18
—1

3
5
1
3
2

39.7
41.2
21.0
20.2
-1.5

—.5

do

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

12.5

12.7

13.0

13 3

12.8

13.4

do
do
do
do
do
do

Proprietors' and rental income, totalcf
do
Business and professional cT
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

429.9

435 5

440 0

432 6

434.4

422. 0

Personal consumption expenditures total
Durable goods
Nondurable goods
Services

do
do
do
do

276 7
35.9
137 3
103.4

278 9
35.0
139 1
104.9

283 6
35.0
142 5
106. 1

282
34
140
107

4
4
8
2

280.4
35.1
139.9
105. 4

281 2
31.5
141 5
108.2

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

do
do
do
do

63.6
32.8
30 7

66.5
33.0
30. 5

61
34
30
—2

3
0
0
7

64.4
33.2
30.4

0

66.2
32.7
30.5
2. 9

51.8
33.3
27 5
-9.0

4 1

35

3 2

2 0

3.2

15

85.6
50.3
45.5
35.3

86.9
51.1
46.3
35.8

86.7
50.6
45.8
36.1

87
49
45
37

0
7
0
3

86.4
50.4
45.7
36.0

87.5
49.5
44.8
38.0

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

3.0

.8

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

do
do
do

338 3
42 2
296. 1

343 2
42 9
300. 4

346 9
43 8
303.3

345 5
43 4
302 1

343.4
42.8
300.6

342.5
42 4
300.1

Personal saving §

do

19 5

21.4

19 7

19 8

20.2

18.9

bil. ofdoL.

340.2

341.1

343.2

345.1

346.3

347.3

347.2

346.8

346 2

343.6

343.4

343.6

341.7

' 342. 2

do
do. _ _
do
do
do

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
102.2
64.8
33 9
40.6

240.1
101.3
64.3
34.0
40.5

239.5
100.9
64.2
34 1
40 3

238 8
99.8
64 4
34 2
40 4

238.8
102.0
63.7
33 3
39.8

237 0
97.6
64 8
34 2
40 4

234.4
95.3
64.3
34 3
40.5

r

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-

7.9

7.9

8.0

51 7
31.4
21 3

51 7
31.6
21 2

51 7
31.6
21.2

51 7
31.7
22 1

8.0

51 2
31.7
22 6

80
50 9
29.7
23 0

7.9

51 2
31.2
21.5

8.0

51 1
31.0
20.8

51 1
31.2
21.6

8.0

51 1
30.9
20.0

51 2
31.0
21 2

7 9
50 5
31.7
23 3

51 0
31.8
23 5

6.8

6.7

6.8

6.8

6.9

6.9

6.8

6.8

6.8

6.8

6.8

6.8

6.8

'6.7

324.5
325.3
331.3
327.5
329.3
330. 3
Total nonagricultural income
do
327.6
330.5
331. 3
331.0
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.

327.5

327.6

325.2

r 325. 4

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

463578 °—58'

3




7.8

7.8

7.8

233. 8
'95. 1
63.7
34 3
MO. 7

7.7

7.8
r

51 3
31.7

r 24 4

S-l

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