Full text of The National Income and Product Account : First Quarter 1951

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* BUSINESS STATISTICS
JL HE DATA here are a continuation of the statistics published in the 1949 Statistical Supplement to the SURVEY OF CURRENT BUSINESS.
That volume (price $1.25) contains monthly data for the years 1945 to 1948, and monthly averages for earlier years back to 1935 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1945. Series added or revised since publication of the 1949 Supplement are indicated by an asterisk (*) and a dagger (f), respectively, the accompanying footnote indicating where historical
data and a descriptive note may be found. The terms "unadjusted" and "adjusted" used to designate index numbers and dollar values refer to
adjustment of monthly figures for seasonal variation.
Data subsequent to April 1951 for selected series will be found in the Weekly Supplement to the SURVEY.
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey

1951

1950
April

May

June

July

August

September

October

November

December

January

February

March

April

GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCTf
Seasonally adjusted quarterly totals at annual rates:
National income, total
bil. of dol
Compensation of employees, total
do
Wages and salaries, total
do
Private
do
Military
do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' and rental income, total cf
do
Business and professional cf
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

229.1
147.9
140.6
119.5
4.5
16.6
7.3
41.2
22.3
11.7
7.1

244.0
155 3
147. 8
125 3

256.2
162. 7
155. 1
130 3

170.2
162. 1
135. 5

7.4
45 5
24.6
13 5
7.4

7.6
46 3
24.3
14 4
7.6

8.1
48.0
25.8
14.8
7.4

35.0
37.4
16 5
20.9
—2 4
5.0

38.1
46.4
20 6
25.8
—8 3
5.0

42.2
50 8
22 3
28. 5
—8 5
5. 1

—9.3
5.2

Gross national product, total
do
Personal consumption expenditures total do
Durable goods
do
Nondurable goods
do
Services
do
Gross private domestic investment
do
New construction
do
Producers' durable equipment
do
Change in business inventories
do
Net foreign investment
do
Government purchases of goods and services,
total
bil. of dol
Federal (less Government sales)
do
State and local
do

271.6
185 8
26.5
99 9
59 5
47 7
21 5
21.8
4 4
—1 7

283.9
198 9
34.0
104 5
60 4
47 8
23 0
26 3
—1 5
-3.3

300.3
195. 8
30.0
104.3
61 5
60 2
22 9
26.1
11 2
—3.4

313.9
204.8
31.6
110.7
62 6
59.0
23 5
27.6
7.9
—2.6

39.9
21 1
18.8

40.4
20 9
19. 5

47.6
26 9
20.8

52.6
32.0
20.7

Personal income total
Less' Personal tax and nontax payments
Equals' Disposable personal income
Personal saving§

215
19
195
9

224 9
20.3
204 6
5.7

234 9
23.3
211 6
15.8

241 6
26.7
214 9
10.1

do
do
do
do

1
5
6
8

PERSONAL INCOME, BY SOURCEf
Seasonally adjusted, at annual rates:
Total personal income
__ _
bil. of dol
Wnge and salary receipts, total
do _
Employer disbursements total
do
Commodity-producing industries
do
Distributive industries
do
Service industries
do
Government
_ _ _ _ _
_
do _
Less employee contributions for social insurance
bil. of dol
Other labor income
do
Proprietors' and rental income
do
Personal interest income and dividends, _ _ d o
Total transfer payments
do
Total nonagricultural income

do

213.8
135.3
138. 1
59.1
39.7
18.2
21.1

214.5
137.7
140. 5
60.9
40.1
18.5
21.0

217.1
140.2
143.2
62.7
40.7
18.6
21.2

220.7
141. 7
144 5
63.3
40.9
18 7
21.6

225.4
145.5
148. 5
65.6
41.7
18.8
22.4

228.7
147.8
150.6
66.5
41.6
18.8
23.7

231.1
150. 7
153.8
68.6
41.9
19.2
24.1

232.9
152. 1
155. 1
69.1
41.9
19.3
24.8

241.0
154. 3
157. 2
70.0
42.4
19.4
25.4

240.9
156. 7
160. 2
71.1
43.2
19.9
26.0

241.3
158. 7
162. 1
72.0
43.7
19.8
26.6

>• 242. 8

164. 1
'73.0
44.1
20.0
'27.0

244.4
161. 5
164. 9
73.2
44. 1
20.0
27.6

2.8
3.3
39 8
18.2
17.2

2.8
3.4
41 5
17.8
14.1

3.0
3.4
42 3
17.8
13.4

2.8
3 4
45 5
17.8
12 3

3.0
3.4
46 1
18.4
12 0

2.8
3.4
45 0
21.1
11.4

3.1
3.4
45 7
19.2
12.1

3.0
3.4
46 2
19.4
11.8

2.9
3 4
47 0
217
11 6

3.5
35
49 3
19.0
12 4

3.4
3.5
47.7
19.3
12.1

3.6
35
M7 2
19.5
r
12 1

3.4
36
47 5
19.7
12 1

198.7

198.4

200.7

202. 7

207.3

211.2

212.7

213.9

221.9

220.9

222.4

r

234. 0

224.7

1
1

5, 500
2, f>70
» 190
1
360
1
150
1
830
1,300

r 160. 5

r

NEW PLANT AND EQUIPMENT
EXPENDITURES
Mi industries, quarterly total
Atnnufacturing
Mining
_
Railroad
Other transportation
Electric and gas utilities
Commercial and miscellaneous--

-mil. of dol
do
_ do
do
do
do
. . do

4,330
1,860
160
300
90
760
1,160

4,700
2, 050
180
290
120
820
1,240

5,830
2,790
200
320
140
940
1,440

1

1
^.^,
~.^.
Estimates for January-March, based on anticipated capital expenditures of business.
Revised.
fRevised series. Quarterly estimates of national income, gross national product, and personal income and monthly estimates of personal income have been revised begiinning 1946: see
pp. 28-35
s-oo
01
of
the
me
j
July
u
i
y
iyou
1950 OSURVEY
U K V J W I lur
for the
me revise
revised figures.
cf1 In eludes inventory valuation adjustment.
§ Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above.
r

946782°—51

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