United States. Bureau of Economic Analysis. "Second Quarter 1976 : Corporate Profits and National Income (Revised), GNP (Revised) and Gross Domestic Product, BEA 76-70," Bureau of Economic Analysis (BEA) News Releases (September 20, 1976). https://fraser.stlouisfed.org/title/6148/item/595585, accessed on May 6, 2025.

Title: Second Quarter 1976 : Corporate Profits and National Income (Revised), GNP (Revised) and Gross Domestic Product, BEA 76-70

Date: September 20, 1976
PREVIOUS | NEXT
Page 1
image-container-0 U N IT E D S T A T E S D E P A R T M E N T O F BUREAU OF ECONOMIC ANALYSIS W A SH I N G T O N , D . C . 2 0 2 3 0 FOR WIRE TRANSMISSION 3:00 P.M. MONDAY, SEPTEMBER 20, 1976 Kennet h Pet r i ck: 523- 0888 ( Pr of i t s) BEA 76- 70 Leo Ber nst ei n: 523- 0824 ( GNP and GDP) SECOND QUARTER 1976 . CORPORATE PROFI TS AND NATI ONAL I NCOME ( REVI SED) . GNP ( REVI SED) AND GROSS DOMESTI C PRODUCT Cor por at e pr of i t s f r om cur r ent pr oduc t i on i ncr eased $1. 3 bi l l i on i n t he second quar t er of 1976 t o a seas onal l y adj ust ed annual r at e of $116. 4 bi l l i on, ac cor di ng t o r evi sed est i mat es by t he Bur eau of Economi c Anal ysi s of t he U. S. Depar t ment of Commer ce. Bef or e- t ax book pr of i t s i ncr eased $5. 1 bi l l i on, t o $146. 2 bi l l i on. The r evi sed est i mat e of pr of i t s f r om cur r ent pr oduc t i on i s $1. 1 bi l l i on abov e t he pr el i mi nar y f i gur e i ssued l ast mont h. The r evi sed est i mat e of bef or e- t ax book pr of i t s i s $0. 9 bi l l i on above t he pr el i mi nar y f i gur e. I nvent or y pr of i t s, whi c h ar e ex cl uded f r om pr of i t s f r om c ur r ent pr oduct i on but i ncl uded i n bef or e- t ax book pr of i t s, i ncr eased i n t he second quar t er , ac count i ng f or mos t of t he l ar ger i ncr ease i n bef or e- t ax book pr of i t s. The pr of i t s t ax l i abi l i t y c omponent of t he bef or e- t ax book pr of i t s t ot al r ose t o a seas onal l y adj ust ed annual r at e of $63. 5 bi l l i on, f r om $61. 4 bi l l i on i n t he f i r st quar t er . Af t er - t ax pr of i t s, at $82. 7 bi l l i on, wer e $3. 0 bi l l i on above t he f i r s t - quar t er r at e. Di vi dends, at $34. 4 bi l l i on, wer e $1. 3 bi l l i on above t he f i r st quar t er ; and undi st r i but ed pr of i t s, at $48. 3 bi l l i on, wer e up $1. 7 bi l l i on.
image-container-1 -2- Nat i onal i ncome by t ype of i ncome Nat i onal i ncome, whi c h meas ur es t he i ncomes gener at ed i n t he pr oduct i on of GNP, advanc ed $32. 7 bi l l i on ( r evi sed) , t o $1, 337. 4 bi l l i on. Empl oyee compensat i on r ose $22. 8 bi l l i on, t o $1, 017. 2 bi l l i on. Far m pr opr i et or s' i ncome i ncr eased $5. 6 bi l l i on, t o $27. 5 bi l l i on; nonf ar m pr opr i et or s' i ncome r ose $1. 4 bi l l i on, t o $72. 8 bi l l i on. Rent al i ncome of per sons decl i ned $0. 2 bi l l i on, t o $23. 1 bi l l i on. Net i nt er est i ncr eased $1. 7 bi l l i on, t o $80. 3 bi l l i on. Cor por at e pr of i t s by i ndust r y Domest i c pr of i t s f r om cur r ent pr oduct i on, at $109. 6 bi l l i on, wer e up $2. 2 bi l l i on f r om t he f i r st quar t er r at e, as pr of i t s of f i nanci al cor por at i ons decr eased $0. 3 bi l l i on, t o $13. 9 bi l l i on, and t hose of nonf i nanci al cor por at i ons i ncr eased $2. 5 bi l l i on, t o $95. 7 bi l l i on. The f or ei gn component of pr of i t s, as meas ur ed by t he net i nf l ow of br anch pr of i t s and di vi dends f r om t he r est of t he wor l d, f el l $0. 9 bi l l i on i n t he second quar t er , t o $6. 8 bi l l i on. The s econd- quar t er i ncr ease i n domest i c pr of i t s of nonf i nanci al c or por a t i ons was mor e t han ac count ed f or by gai ns i n dur abl e manuf act ur i ng. The l ar gest gai ns wer e i n mot or vehi cl es and pr i mar y met al s. Nondur abl e manu f act ur i ng and t r ade decl i ned. The ot her nonf i nanci al i ndust r i es showed l i t t l e change. Gr oss nat i onal pr oduc t ( r evi sed) and gr oss domest i c pr oduct ( GDP) Second quar t er GNP was r evi sed up $1. 1 bi l l i on t o i ncor por at e addi t i onal dat a on i nvest ment i ncome f r om abr oad. GNP i s now est i mat ed at a seasonal l y adj ust ed annual r at e of $1, 675. 2 bi l l i on, $39. 0 bi l l i on above t he f i r st quar t er . Real GNP ( GNP adj ust ed t o excl ude pr i ce changes) i ncr eased at an annual r at e of 4. 5 per cent , compar ed wi t h 9. 2 per c ent i n t he f i r st quar t er . Pr i ces, as meas ur ed by t he GNP chai n pr i ce i ndex, r ose at an annual r at e of 5. 4 per cent , compar ed wi t h 4. 3 per cent i n t he f i r st quar t er . GDP, whi c h does not i ncl ude f act or i ncome f r om abr oad, was not r evi sed. I t i s est i mat ed at $1, 662. 8 bi l l i on, up $39. 6 bi l l i on f r om t he f i r st quar t er . Real GDP i ncr eased at an annual r at e of 4. 6 per cent , compar ed wi t h 9. 0 per cent i n t he f i r st quar t er . The ac companyi ng t abl es show: ( 1) cor por at e pr of i t s and t he ot her component s of nat i onal i ncome; ( 2) t ot al and per uni t c os t s . and pr of i t s, and pr i ces f or nonf i nanci al cor por at i ons ; ( 3) cor por at e pr of i t s by i ndust r y; ( 4) nat i onal i ncome wi t hout capi t al cons umpt i on adj ust ment by i ndust r y; and ( 5) gr oss nat i onal pr oduct , gr oss domest i c pr oduct , and di spos i t i on of per sonal i ncome. Addi t i onal dat a wi l l appear i n t he Sept ember i ssue of t he Sur v ey of Cur r ent Bus i nes s , t he mont hl y magazi ne of t he Bur eau of Economi c Anal ysi s. The Sur v ey i s avai l abl e f r om most Di st r i ct Of f i ces of t he Depar t ment of Commer ce or f r om t he Super i nt endent of Document s, U. S. Gover nment Pr i nt i ng Of f i ce, W ashi ngt on, D. C. 20402, at an annual subscr i pt i on pr i ce of $48. 30 i ncl udi ng week l y suppl ement s; si ngl e copy $3. 00.
image-container-2
image-container-3
image-container-4
image-container-5
About
Date: September 20, 1976
Part Of:
Collections within FRASER contain historical language, content, and descriptions that reflect the time period within which they were created and the views of their creators. Certain collections contain objectionable content—for example, discriminatory or biased language used to refer to racial, ethnic, and cultural groups.
More Information
Genre:
  • government publication
  • periodical
Rights
Metadata
Metadata (XML)
Metadata (JSON)
IIIF Presentation Manifest
View IIIF Manifest (JSON)