Full text of The National Income and Product Account : Fourth Quarter 1954

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* BUSINESS STATISTICS

Wlontki

X HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1953 Statistical Supplement to the SURVEY
DF CURRENT BUSINESS. That volume (price $1.50) contains monthly data for the years 1949 to 1952, 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 1949. Series
added or revised since publication of the 1953 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.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely,
vided through the courtesy of the compilers^ and are subject to their copyrights.
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical
Supplement to the Survey

Data from private sources are pro-

1955

1954

February

March

April

May

June

July

August

Septem- October Novem- December
ber
ber

January

February

March

GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates :t
National income, total _..
bil ofdol

298. 9

299.6

298.8

Compensation of employees, total.. . _ do
Wages and salaries, to^al
do
Private
do
Military
._ do Government civilian
.
do
Supplements to wages and salaries . - - - do

206.4
194 6
161. 2
9.7
23.7
11.8

206 6
194.9
161 5
9.5
23 8
11.7

207 2
195.6
161 6
9.6
24 4
11 6

208.9
197.2
163 0
9.5
24 7
11.7

Proprietors' and rental income, total cf
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
... . .
- do

49.4
25.6
13.0
10.8

49.0
25 9
12.2
10 9

48.5
25 9
11 6
10 9

48.1
26 3
11.0
10.9

34.1
34.5
17.0
17.5
-.4
9.0

34.9
34.5
17.0
17.5
4
9.1

33.9
34 2
16 8
17 4
— 3
9 2

_ 4
9 2

do

355. 8

356.0

355.5

362.0

do
do ._
do
do .

230. 5
28.0
118.8
83.6

233 1
28 8
120 0
84.3

234 8
28.9
121 1
84.8

237 7
29 9
122.1
85.7

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

44.5
26.0
22.7
-4.2

45.6
27 0
22.4
-3.8

45.3
9
83
21 8
—4 8

49 5
29.1
21 7
— 1.3

Net foreign investment
do
Government purchases of goods and services, total
bil. of dol.
Federal (less Government sales)
do

-1.1

10

2

.8

do

81.9
55.0
46.9
26.9

78.3
51.3
44.7
27.0

75.6
47.9
42.1
27 7

74 1
45.9
40.5
28.2

do
do
do
do

285.1
32.8
252.3
21.8

285 7
32.9
252.9
19 7

286.2
32.9
253 2
18.4

289 0
33.1
255.9
18.2

Gross national product, total
Personal consumption expenditures, total _
Durable goods--.
Nondurable goods. _ _ _ _ . - .
Services.
...

State and local. __

___

Personal income, total.
..
Less: Personal tax and nontax payments
Equals: Disposable personal income _ __ .
Personal saving § .
_______

_

-

"

"

""

PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:!
Total personal income

bil. ofdol..

Wage and salary disbursements, total
Commodity-producing industr ies
Distributive industries
Service industries
Government--

do
do
do
do
do

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._

291.4

r

198.1
84.6
53.0
26.2
34.3

197.8
84.4
53.1
26.1
34. 2

T

6.6
47.2
24.5
16.5

6.6
48.3
24.6
16.4

6.6
48.8
26.2
16.7

4.6

4.7

4.7

285.0

285.0

284. 4

286. 2

286.5

285.7

285.4

286.6

286.3

194.7
84.6
51.8
24.9
33.4

194.5
84.2
52.0
25.0
33.3

194.3
83.7
52,0
25.2
33. 4

195.0
84.2
52.3
25.2
33.3

195.5
84.0
52.5
25.5
33.5

195.7
83.4
53.1
25.4
33.8

195. 5
82.7
52.8
25.8
34.2

195.4
82.4
52.9
25.9
34.2

196.1
82.9
52.9
26.1
34.2

6.6
49.6
23.9
15.0

6.6
48.9
23.9
15.8

6.6
48.2
24.0
15.9

6.6
49.4
24.0
15.8

6.6
49.2
24.1
15.8

6.6
47.9
24.2
15.8

6.6
48.2
24.3
15.5

6.6
48.8
24.4
16.0

4.8

4,7

4.6

4.6

4.7

4.5

4.7

4.6

289.3

291. 4

292.4

199. 3
85.2
53. 5
26.4
34.2

199.9
85.8
53.5
26.4
34.2

6.6
49.5
24.7
!6. 5

6.6
49.9
24.7
16.4

r
r
r

r
r

r

5.2
5.1
Total nonagricultural income
do
268.2
268.8
269. 1
269.7
270.3
270.6
270.2
271.1
272.3
274.6
276.5
275.5
276.3
r
Revised.
evse seres.
u a r e r y eestimates
s m a t e s oof natonal
ncome and product
have been revised back to 1939 (annual data, to 1929); quarterly and monthly estimates oof personal income, back to
f Revised
series. ^ Quarterly
national^mcome
productiveJ3een
1929 (monthly revisions prior to May 1953 appear in the 1954 issue of the National Income Supplement). For quarterly data prior to 2d quarter 1953, see pp. 8 and
cf Includes inventory valuation adjustment.
9 Government sales are not deducted.
§ Personal saving is excess of disposable income over personal consu
umption expenditures shown
as a component of gross national product above.




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