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SURVEY OF CURRENT BUSINESS 14 February 1957 Table 7.—National Income and Product, 1954, 1955, and 1956 [Billions of dollars] Seasonally adjusted at annual rates Unadjusted 1954 1955 I 1956 1955 1956 1956 II III I IV II j III IV I II III IV NATIONAL INCOME BY DISTRIBUTIVE SHARES National income _ __. Compensation of employees Wages and salaries Private ._ Military Government civilian Supplements to wages and salaries _. Proprietors' and rental income l Business and professional _ __ .Farm Rental income of persons _ _ _ _ _ _ _ _ _ _ _ - __ . __ Corporate profits and inventory valuation adjustment Corporate profits before tax -_ _ . Corporate profits tax liability Corporate profits after tax Inventory valuation adjustment .-. Net interest .... ... Addendum: Compensation of general government employees 298.3 324.0 342.4 82.9 84.9 86.0 311.3 321.9 328.3 334. 4 334.9 338.7 343.5 206.9 223.2 239. 1 57.7 59.1 60.2 62.1 213. 9 221.6 226.8 230.3 233.0 237.2 240.4 245.5 195.5 161. 2 10.0 24.4 11.4 210.4 174,5 9.8 26.1 12.8 225. 1 187. 5 9.5 28. 1 14.0 54.1 44.7 2. 4 7.0 3.6 55. 5 46.1 2.4 7.0 3.6 56.8 47.8 2.4 6.6 3.5 58. 7 48. 9 2.4 7.5 3.4 201.6 166.7 9.7 25.3 12.2 209.0 172.9 10.0 26.1 12.6 213.6 177. 5 9.8 26.4 13.2 217.0 180.5 9.7 26.8 13.3 219.4 182.5 9.6 27.3 13.6 ?23.5 186.2 9.5 27.8 13.8 226.2 188.3 9.5 28.5 14.2 231.1 192. 9 9.5 28.7 14.4 48.9 49.1 50.5 12.4 12,5 12.7 12.9 48.6 49.5 49.0 49.3 49.5 49.9 50.7 51.7 25.9 12 5 10.5 27.3 11.7 10.1 29.1 11.6 9.7 7.5 3.0 2.4 26.5 11.8 10.3 27.1 12.2 10.2 27.7 11.3 10.0 28.0 11.4 9.8 28.2 11.5 9.8 28.9 11.3 9.7 29.5 11.6 9.7 29.9 12.1 9.7 32.9 40.9 40.9 10.0 10.4 10.1 38.5 40.2 41.6 43.4 40.9 39.8 40.4 33.2 16.8 16.4 -.3 42.7 21.5 21.1 -1.7 43.4 21.9 21. 5 -2.5 10.8 5.4 5.3 -.8 11.1 5.6 5.5 -.7 10.5 5.3 5.2 -.3 — .7 39.7 20.0 19.7 -1.2 41.1 20.7 20.3 -.9 43.5 22.0 21.5 -1.9 46.4 23.4 23.0 -3.0 43.7 22.1 21.6 -2.8 42.9 21.7 21.3 -3.1 41.2 20.8 20.4 -.8 -3.3 9.7 10.8 11.9 2.9 2.9 3.0 3.1 10.4 10.6 11.0 11.3 11.5 11.7 12.0 12.4 32.2 33.9 35. 9 9.0 9.0 8.5 9.4 32.9 33.9 34.3 34.6 35.0 35.5 36.3 36. 6 360.7 390. 9 412.4 98.4 100.9 102.6 110.3 377.3 387.4 396. 8 401.9 403.4 408.3 413.8 423.8 236.5 254.0 265.7 62.5 65.5 65.3 72.6 246.7 251.8 257.8 259.5 261.7 263.7 266.8 270.9 29.4 120.9 86 3 35. 7 126.2 92.1 34.0 132. 9 98.9 7.8 30.4 24.3 8.5 32.2 24.7 7.9 32.6 24.8 9.7 37.7 25.1 34.7 122.5 89.5 35.3 125.3 91.2 37.2 127.6 92.9 35.4 129.2 94.9 34.8 130.5 96.4 33.4 132.3 98.0 33.0 134.0 99.7 34.8 134.7 101.4 48.0 60.6 65.4 17.0 15.2 17.1 16.1 54.7 60.2 62.3 65.1 63.1 64.7 65.1 68.5 27.9 13.5 14.4 22.4 -2.3 -2.7 32.7 16.6 16.1 23.7 4.2 3.8 33. 2 15. 3 17.8 28.7 3.5 3.8 7.1 3.2 3.9 6.5 3.5 3.5 8.4 4.0 4.4 7.3 —.5 -.4 9.2 4.3 4.9 7.2 .6 .7 8.5 3.9 4.6 7.6 .0 .0 31.5 16.1 15.3 21.3 1.9 1.4 32.9 16.9 16.0 22.4 4.9 4.5 33. 5 17.2 16.4 25.0 3.7 3.4 33.0 16.2 16.8 25.9 6.1 5.9 32.6 15.3 17.3 26.4 4.1 4.2 33.6 15.6 18.0 27.5 3.5 3.9 33.6 15.5 18.1 29.5 2.0 2.4 32.9 14.9 18.0 31.5 4.1 4.4 7.0 2.9 2.4 7.2 2.8 2.4 7.4 2.9 2.4 GROSS NATIONAL PRODUCT OR EXPENDITURE Gross national product Personal consumption expenditures Durable goods Nondurable goods Services _ _ _ _ _ _. _ Gross private domestic investment New construction _ . Residential nonfarm Other _ Producers' durable equipment Change in business inventories, total Nonfarm only -_ Net foreign investment -.4 -.5 1.4 .0 1.0 -.4 -.9 .2 o .1 1.2 1.7 2.4 Government purchases of goods and services 76.5 76.8 79.8 19.0 19.9 20.3 20.6 76.3 76.2 76.5 78.1 78.5 78.7 80.2 82.0 48.9 43.0 41.1 1.9 6.3 .4 27.6 46.7 41.2 39.1 2.2 5.9 .4 30.1 47.0 41.6 39.6 2.0 5.8 .4 32.8 11.6 10.1 9.6 .5 1.6 .1 7.4 11.5 10.2 9.7 .5 1.5 .1 8.4 11.8 10.5 10.0 .5 1.4 .1 8.5 12.1 10.8 10.3 .5 1.4 .1 8.6 46.8 41.8 39.2 2.6 5.4 .4 29.5 46.3 41.3 39.1 2.2 5.5 .4 29.9 46.6 41.3 39.4 1.9 5.8 .4 29.9 47.2 40.6 38.7 1.9 7.1 .5 30.9 46.4 40.5 38.6 1.9 6.3 .4 32.1 46.1 40.7 38.7 2.0 5.8 .4 32.6 47.2 41.9 39.9 2.0 5.7 .4 33.0 48.3 43.2 41.3 2.0 5.5 .4 33.7 287.3 32.9 29.1 3.8 306.1 35.5 31.3 4.2 325.2 38.5 33.9 4.6 78.3 10.2 9.0 1.2 80.2 10.4 9.1 1.3 81.8 9.6 8.5 1.0 84.9 8.4 7.3 1.0 295.1 34.5 30.4 4.1 303.8 35.3 31.2 4.1 309.6 35.9 31.7 4.2 314.6 36.3 32.0 4.3 317.5 37.3 32.9 4.4 322.9 38.1 33.6 4.4 327.0 38.8 34.1 4.6 333.2 39.9 35.1 4.8 Equals! Disposable personal income 254.4 270.6 286.7 68.1 69.9 72.2 76.5 260.6 268.5 273.8 278.4 280.2 284.9 288.2 293.3 Less: Personal consumption expenditures 236.5 254.0 265.7 62.5 65.5 65.3 72.6 246.7 251.8 257.8 259.5 261.7 263.7 266.8 270.9 17.9 16.6 20.9 5.6 4.4 7.0 3.9 13.9 16.7 15.9 18.8 18.6 21.2 21.4 22.4 _ __ 360.7 390.9 412.4 98.4 102.6 110.3 377.3 387.4 396.8 403.4 408.3 413.8 423.8 .. ._ 28.8 30.2 1.4 1.8 31.3 32.5 1.4 1.8 34.0 34.6 1.4 .9 8.2 8.2 .4 -1.0 8.6 8.8 8.9 9.1 30.3 31.4 31.1 32.4 31.7 32.8 32.2 33.4 32.9 33.7 33.6 34.1 34.4 35.1 35.1 35.6 3.0 1.2 2.7 .6 1.1 1.1 .2 Federal National security National defense _ Other national security Other Less* Government sales State and local _ _ _ _ __ .0 DISPOSITION OF PERSONAL INCOME Personal income -_ Less* Personal tax and nontax payments Federal State and local __ Equals: Personal saving -_ _ _ _ _ _ RELATION OF GROSS NATIONAL PRODUCT, NATIONAL INCOME, AND PERSONAL INCOME Gross national product _ __ .. - Less* Capital consumption allowances Indirect business tax and nontax liability Statistical discrepancy Plus: Subsidies less current surplus of government enterprises __ 100.9 8.4 8.5 .4 -1.1 -.9 .2 .7 .1 .2 .7 .7 .9 311.3 321.9 328.3 334.4 334.9 338.7 343.5 2.8 .0 38.5 10.6 .1 40.2 10.9 .5 41.6 11.3 -.6 43.4 11.4 .0 40.9 12.1 .0 39.8 12.3 .0 40.4 12.7 .0 13.0 .0 4.2 1.4 2.8 .4 4.4 1.3 3.5 .4 15.9 5.2 10.4 1.4 16.2 5.2 10.7 1.4 16.0 5.2 11.0 1.4 16.3 5.3 12.1 1.4 16.9 5.4 11.8 1.4 17.3 5.5 12.2 1.4 17.2 5.6 12.3 1.4 17.6 5.7 11.9 1.4 81.8 84.9 295.1 303.8 309.6 314.6 317.5 322.9 327.0 333.2 -.2 .3 .9 .2 .2 .2 298.3 324.0 342.4 82.9 84.9 86.0 Less: Corporate profits and inventory valuation adjustment _ Contributions for social insurance Excess of wage accruals over disbursements 32.9 9.7 .0 40.9 11.1 .0 40.9 12.5 .0 10.0 3.4 .0 10.4 3.4 .0 10.1 2.9 .0 Plus* Government transfer payments Net interest paid by Government Dividends _ _ Business transfer payments 15.0 5.2 10.0 1.4 16.1 5.2 11.2 1.4 17.3 5.5 12.0 1.4 4.3 1.2 2.9 .4 4.4 1.6 2.8 .4 287.3 306.1 325.2 78.3 80.2 Equals : National income Equals: Personal income _ - - 1. Includes noncorporate inventory valuation adjustment. Source: U. S. Department of Commerce, Office of Business Economics. 401.9 .4 1.4 BUSINESS STATISTICS JL HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1955 Statistical Supplement to the SURVEY OF CURRENT BUSINESS. That volume (price $2.00) contains monthly data for the years 1951 through 1954 and monthly averages for earlier years back to 1929 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1951. Series added or significantly revised since publication of the 1955 Supplement are indicated by an asterisk (*) and a dagger (f), respectively. 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. Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights. [Averages for the year 1955 are provided in the July 1956 issue of the SURVEY] Unless otherwise stated, statistics through 1954 and descriptive notes are shown in the 1955 edition of BUSINESS STATISTICS 1955 1957 1956 December January February March April May June July August Septem- October Novem- December ber ber January GENERAL BUSINESS INDICATORS NATIONAL INCOME AND PRODUCT Seasonally adjusted quarterly totals at annual rates :f National income, total __ bil.ofdol 334 4 334 9 338 7 343 5 Compensation of employees, total do Wages and salaries, total _.do_ Privato do Military „ __ do.__ Government civilian _ do Supplements to wages and salaries - __do 230 217 180 9 26 13 3 0 5 7 8 3 233 219 182 9 27 13 0 4 5 6 3 6 237 2 223 5 186 2 9 5 27 8 13 8 240 4 226 2 188 3 95 28 5 14 2 245.5 231.1 192 9 9.5 28 7 14. 4 Proprietors' and rental income, totalcf-- -- do__Business and professional^1 do Farm __ _do_ Rcntal 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 28 11 9 3 0 4 8 49 28 11 9 5 2 5 8 49 28 11 9 50 29 11 9 7 5 6 7 51.7 29 9 12 1 9 7 Gross national product, total _. do Personal consumption expenditures, total do Durable goods - do Nondurable goods __do_. . Services - _do_- _ Gross private domestic investment, total _. New construction Producers' durable equipment _. _ Change in business inventories do do do do 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 _ _ Personal income, total ._ _ _ _ __ Less: Personal tax and nontax payments. Equals: Disposable personal income do__do_ __ do. Personal saving§ _do 9 9 3 7 43 4 46 4 23.4 23 0 -3.0 11 3 40 9 43 7 22.1 21 6 —2.8 11 5 39.8 42.9 21.7 21.3 -3.1 11 7 40 4 41 2 20 8 20 4 -8 12 0 -3.3 12 4 401 9 403 4 408 3 413 8 423 8 259 5 35.4 129.2 94 9 261 7 34.8 130.5 96 4 263 7 33.4 132.3 98.0 266 8 33 0 134.0 99 7 270 9 34.8 134. 7 101.4 65.1 33 0 25 9 61 63.1 32 6 26 4 4 1 64.7 33 6 27.5 35 65 33 29 2 68. 5 32 9 31 5 4 1 1 6 5 0 1 12 17 78 1 47.2 40 6 30 9 78 46 40 32 5 4 5 1 78 7 46. 1 40 7 32.6 80 2 47 2 41 9 33 0 82 48 43 33 314.6 36.3 278 4 317.5 37 3 280 2 322.9 38 1 284 9 327 0 38 8 288 2 333 2 39 9 293 3 18.8 18.6 21.2 21 4 22 4 — 8 2 4 0 3 2 7 PERSONAL INCOME, BY SOURCE Seasonally adjusted, at annual rates:f Total personal income bil. of dol Wage and salary disbursements, total _ --.do Commodity-producing industries -_- _ _ _ _do Distributive industries ._. ... do Service industries --- do_ Government 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- _ Total nonagricultural income.. do 317 5 316 7 317 1 318 6 321 7 322 8 324 9 324 3 328 1 329 5 332 5 T 333 5 333 5 218.2 94.5 57.6 29.4 36 7 219.0 94.8 57.9 29.5 36 8 218.9 94.7 57.9 29.5 36 8 220.3 95.1 58.4 29.6 37 2 222.9 96.8 59.1 29.8 37 2 223 2 96.8 59.1 30 0 37 3 225.2 97.5 59.9 30. 2 37 6 224.0 95.9 59.9 30.4 37 8 227.1 98.3 60.3 30.6 37 9 228 5 99.1 60. P 30 8 38 1 229.7 100. <5 60.2 30 9 38 0 r 231.0 232 102 60 31 38 7 3 49.2 30.2 18 0 7 3 49.4 28.5 18 2 7 2 49. 7 28.7 18 3 7 2 49.5 28.8 18.5 7 2 49. 7 29.1 18 6 7 2 50. 1 29.4 18 7 73 50.0 29.6 18 6 7 3 50.5 29.7 18.6 7.3 51.0 29.8 18.8 7 3 50.9 30.0 18 7 7 4 52 3 30.2 5.4 5.7 5.7 5.7 5.8 5.8 5.8 5.8 5.9 5.9 6.0 301.5 304.0 306.8 307.6 310.3 309.4 314.4 316.3 302.8 301.6 312.8 18.9 r 101. 1 r r 60. 6 31 1 38 2 | 7 4 51.7 30. 3 19 1 r r 6.0 ' 317. 9 5 1 9 2 3 7 4 51 2 29.2 19 2 6.0 318.3 "Revised. fRevised series. Estimates of national income and product and personal income have been revised back to 1952 (see pp. 7 ff. of the July 1956 SURVEY); for data prior to 1952, see the 1954 NATIONAL INCOME SUPPLEMENT or the 1955 edition of BUSINESS STATISTICS. 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. 414858°—57 5 S-l
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