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SURVEY OF CURRENT BUSINESS

January 1971

9

NATIONAL INCOME AND PRODUCT TABLES
1969
1970

III

1970
II

IV

1970
III

IV

1969

1970

III

Seasonally adjusted at annual rates

IV

II

III

IV

Seasonally adjusted at annual rates

Billions of current dollars

Billions of 1958 dollars

Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
Gross national product

931.4

976.8

942.6

951.7

959.5

971.1

985.5

990.9

727 1

724.3

730 9

729.2

723 8

724.9

727.4

721 3

Personal consumption expenditures

577.5

616.8

582.1

592.6

603.1

614.4

622.1

627.6

467.7

477.2

468.7

471.7

474.0

478.1

479.6

477.1

90.0
245.8
241.6

89.4
264.7
262.7

89.5
248.1
244.5

90.8
252.0
249.8

89 1
258.8
255.2

91.9
262.6
259.9

91.2
265.8
265.1

85.4
271.7
270.5

84 9
201.2
181.6

82.1
207.9
187.3

84 1
201.9
182.7

84 9
202.4
184.4

82 7
205.6
185. 8

84.9
206.6
186.6

83 6
208.2
187.8

77 1
211 2
188 8

103.0

114.1

110.0

102.9

103.1

104.1

101.8

101.5

100.1

99.6

98.3

79.6
22.6
56.9

76.6
21 8
54.8

Durable goods
Nondurable goods
Services
Gross private domestic investment

139.8

135.8

143.8

140.2

133.2

134.3

138.3

137.5

111.3

131.4

Fixed investment

132.2

132.4

133.0

131.6

131.2

132.7

133.4

104.1

102.8
35.3
67.5

103.6
35.0
68.6

101.4
34.6
66.8

80.8
24.0
56.9

104.2

103.9

79.3
23.1
56.2

81.9
24.6
57.3

82.1
24.3
57.8

80.9
24.4
56.5

80.2
23.5
56.7

99.9

Nonresidential
Structures
Producers' durable equipment. ..

99.3
33.8
65.5

102.6
35.1
67.4

101.5
35.2
66.3

102.6
35.1
67.5

102.6
35.7
66.9

Residential structures
Nonfarm
Farm

32.0
31.5
6

29 7
29.0
6

31.0
30.4
6

30.4
29.8
6

29.1
28.4
6

28.4
27.8
.6

29.2
28.6
.6

32.0
31.4
6

23.3
22.8
4

20.6
20.2
.4

22.3
21.8
4

21.8
21.4
4

20.7
20.2
4

20.0
19.5
.4

20.0
19.6
.4

21 7
21.3
4

8.5
8.0
4

3.6
3.0
5

11.3
10.8
5

7.2
6.5
7

1.6
.9
7

3.1
2.6
.5

5.5
5.0
.5

4.1
3.6
5

7.2
6.8
4

3.1
2.6
.5

9.9
9.3
6

6.1
5.4
g

1.3
.8
6

2.9
2.5
.4

4.6
4.1
.4

35
3.0
5

Change in business inventories
Nonfarm
Farm

1.9

Exports ..
Imports
Government purchases of goods and services
Federal
National defense
Other
State and local

3.6

2.6

2.6

3.5

4.1

4.2

2.7

.2

2.3

.8

.9

1.9

2.4

3.1

1.9

55.5
53.6

Net exports of goods and services _

62.3
58.7

58.3
55.6

58.8
56.2

61.1
57.6

62.8
58.7

62.8
58.6

62.6
59.9

48.5
48.2

52.2
49.9

50.8
50.0

50.0
49.1

52.0
50.1

52.9
50.5

52.0
48.9

51.8
50. 0

212.2
101.3
78.8
22 6
110.8

220.5
99.7
76.6
23 1
120.8

214.1

216.3

102.5
79.8
22 7
111 6

102.1
78.8
23.3
114.2

219.6

218.4

221.0

223.2

102.3
79.3
23 0
117.4

99.7
76.8
22.9
118.7

98.6
75.8
22.9
122.4

98.4
74.6
23.8
124.8

147.8

141.8

147.3

75.7

67.7

72.1

74.1

146.6

75.2
72.1

73.8
72.9

145.0

141.3

140.6

140.5

71.1

67.8

66.2

65.8

73.8

73.5

74.4

74.7

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3,1.5)
Gross national product
Final sales ..
Change in business inventories

931.4
922.9
8.5

976.8
973.2
3.6

942.6
931.2
11.3

951.7
944.5
7.2

959.5
957.9
1.6

971.1
968.1
3.1

985.5
980.0
5.5

990.9
986.8
4.1

727.1
719.9
7.2

724.3
721.2
3.1

730.9
720.9
9.9

729.2
723.0
6.1

723.8
722.4
1.3

724.9
721.9
2.9

727.4
722.8
4.6

721.3
717.8
3.5

Goods output
__
Final sales _
Change in business inventories. _ .

460.0
451.6
8.5

474.1
470.5
3.6

466.2
454.9
11.3

468.9
461.7
7.2

467.1
465.5
1.6

474.9
471.8
3.1

479.8
474.2
5.5

474.5
470.4
4.1

392.2
385.0
7.2

388.5 395.7
385.4 385.8
3.1
9.9

393.5
387.4
6.1

387.3
386.0
1.3

391.1
388.2
2.9

392.1
387.5
4.6

383.6
380.1
3.5

Durable goods
Final sales .Change in business inventories _

190.2
183.9
6.4

185.0
185.3
-.4

192.7
184.8
7.9

192.7
187.4
5.3

185.3
185.5
-.3

186.6
188.5
-1.9

193.5
188.3
5.2

174.5
179.0
-4.5

170.1
164.7
5.3

160.2
160.5
-.4

171.6
164.9
6.7

170.3
165.9
4.4

162.3
162.6
-.3

162.9
164.4
-1.5

167.1
162.7
4.3

148.5
152.5
-4.0

Nondurable .
Final sales _ _
Change in business inventories..

269.8
267.7
2.1

289.1
285.2
4.0

273.5
270.1
3.5

276.2
274.3
1.9

281.8
280.0
1.9

288.3 286.3
283.3 286.0
5.0
.3

300.0
291.4
8.6

222.1
220.3
1.8

228.4
224.9
3.5

224.1
220.9
3.2

223.3
221.5
1.8

225.1
223.4
1.6

228.3
223.8
4.5

225.0
224.7
.2

235.2
227.6
7.5

377.6
93.8

410.3
92.4

383.0
93.3

390.3
92.5

400.1
92.3

405.8
90.4

422.2
94.2

268.2
66.6

274.5
61.3

269.8
65.4

271.3
64.4

273.1
63.4

272.8
60.9

274.8
60.5

277.2
60.5

721.3

Services
Structures

413.2
92.6

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product
Private
Business
Nonfarm
Farm ..
Households and institutions...
Rest of the worldGeneral government

931.4

976.8

942.6

951.7

959.5

971.1

985.5 990.9

727.1

724.3

730.9

729.2

723.8

724.9

727.4

827.8

863.5

836.6

844.0

848.5

858.4

871.7

875.4

666.4

663.6

669.8

668.1

663.1

664.2

666.8

660.4

795 4
767 9
27.5

828 6
800 5
28.1

g04 2
776 6
27 6

810 8
783 0
27 8

814 3
785 5
28.8

824 5
796 0
28.5

836 5
808 5
28.0

839 0
811.9
27.1

646 0
622.5
23.6

642 8
619.6
23.1

649 7
626.2
23.5

647.6 642.1
624.7 619.5
22.8 22.6

644.0
621.0
23.0

645.9
622.9
22.9

639.1
615.1
24.0

28.1
4.3

30.3
4.6

28.3
4.1

29.0
4 2

29.6
4.5

30.0
3.9

30.5
4.7

31.1
5.2

16.4
4.0

16.6
4.3

16.3
3.8

16.6
4.0

16.7
4.3

16.5
3.6

16.5
4.4

16.5
4.9

103 6

113 3

106 0

107 7

111 0

112.8

113.9

115.6

60.7

60.7

61.0

61.1

60.7

60.7

60.6

60.9

Preliminary.




HISTORICAL STATISTICS
National income and product statistics for earlier periods are available as follows:
Data for 1966-69, July 1970 SUEVEY OF CURRENT BUSINESS; 1964-65, July 1968 SURVEY;
1929-63, The National Income and Product Accounts of the United States (available from
U.S. Department of Commerce Field Offices or from the Superintendent of Documents,
U.S. Government Printing Office, Washington, D.C. 20402, price $1.00 per copy)-

CURRENT BUSINESS STATISTICS

J.HE STATISTICS here update series published in the 1969 edition of BUSINESS STATISTICS biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $3.00) provides a description of each series, references to sources of earlier figures, and historical data
as follows: For all series, monthly or quarterly, 1965 through 1968 (1958-68 for major quarterly series), annually, 1939-68; for selected series,
monthly or quarterly, 1947-68 (where available). Series added or significantly revised after the 1969 BUSINESS STATISTICS went to press are indicated
by an asterisk (*) and a dagger (f), respectively; certain revisions for 1968 issued too late for inclusion in the 1969 volume appear in the monthly
SURVEY beginning with the September 1969 issue. Also, unless otherwise noted, revised monthly data for periods not shown herein corresponding
to revised annual data are available upon request.
The sources of the data are given in the 1969 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 189-90.
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.
1967

Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS

1968

1969

1967

IV

1968

I

II

1970

1969

III

Annual total

rv

I

II

III

IV

I

II

III

IV p i

959.5

971.1

985.5

990.9
627.6

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
Gross national product, total f

.

.bil. $.

-

815.9

834.9

858. 1

875.8

891.4

907.6

923.7

942.6

951.7

535.8

577. 5

502.5

519.7

529.1

543.8

550.8

561.8

573.3

582.1

592.6

603.1

614.4

do
. do
do

73.1
30.5
31.4

84.0
37.2
34.6

90.0
40.3
36.7

75.3
31.1
32.5

79.9
34.9
33.7

82.6
36.0
34.1

86.7
39.1
35.4

86.9
38.8
35.2

89.1
39.8
35.8

90.6
40.0
37.2

89.5
40.2
36.7

90.8
41.1
36.9

89.1
37.7
38.3

91.9
39.4
38.9

91.2
39.2
38.1

85.4
32.8
38.5

- do_ _
do
- _do
do

215. 0
42.3
108.5
17.6

230.2
46.1
115.1
19.0

245. 8
49.9
121.7
21.1

217.1
42.5
109.5
18.1

225.6
44.8
112.7
18.8

227.6
45.2
114.7
18.6

232.6
47.1
116.1
19.2

234.8
47.2
117.0
19.3

239.2
47.9
119.1
20.3

244.0
50.0
120.8
20.8

248.1
50.7
122.4
21.5

252.0
50.9
124.6
21.7

258.8
51.3
128.8
22.4

262. 6
51.8
131.2
22.7

265.8
52.3
132. 3
23.0

271. 7
53.7
134.5
23.4

,__do
-do
do
do

-

-

Services tota!9
- Household operation
Housing
Transportation

931.4

492.1

204.0
29.1
71.8
14.5

221.6
31.2
77.4
15.6

241.6
33.9
84.0
16.7

210.1
30.1
73.7
14.6

214.2
30.4
75.2
15.2

218.9
30.8
76.6
15,3

224.5
31.5
77.9
15.6

229.0
32.1
79.8
16.1

233. 5
32.7
81.4
16.2

238.7
33.3
83.0
16.5

244.5
34.5
84.7
16.8

249.8
34.8
87.0
17.1

255.2
35.2
89.0
17.7

259.9
35.9
90.8
17.9

265.1
36.9
92.6
18.2

270.5
37.4
95.0
18.5

do. _

Durable goods total 9
Automobiles and parts
Furniture and household equipment
--

865.0

622.1

Personal consumption expenditures, total

Nondurable goods tota!9
Clothing and shoes
Food and beverages
Gasoline and oil

793.9

.

116.6

126.5

139.8

123.0

119.8

127.3

126.5

132.6

136.0

139.3

143.8

140.2

133.2

134.3

138.3

137.5

108.4
83.3
28.0
55.3
25.1
24.5
8.2
7.5

118.9
88.7
29.6
59.1
30.3
29.7
7.6
7.5

131.4
99.3
33.8
65.5
32.0
31.5
8.5
8.0

113.0
84.1
28.0
56.2
28.8
28.3
10.0
8.5

117.2
88.3
29.8
58.5
28,8
28.3
2.6
2.5

117.0
86.4
28.9
57. 5
30.6
30.1
10.4
10.3

118.3
88.3
29.4
59.0
29.9
29.4

123. 3
91.6
30.3
61.3
31.7
31.1

128.7
95.7
32.6
63.1
33.0
32.4

131.4
97.5
32.3
65.2
33.9
33.3
7.9
7.6

132.4
101.5
35.2
66.3
31.0
30.4
11.3
10.8

133.0
102.6
35.1
67.5
30.4
29.8
7.2
6.5

131.6
102.6
35.7
66.9
29.1
28.4
1.6
.9

131.2
102.8
35.3
67.5
28.4
27.8
3.1
2.6

132.7
103.6
35.0
68.6
29.2
28.6
5.5
5.0

133.4
101. 4
34.6
66.8
32.0
31.4
4. 1
3.6

5.2
46.2
41.0

2.5
50.6
48.1

1.9
55.5
53.6

4.0
46,8
42.8

1.8
47.7
45.9

3.4
50.7
47.3

3.4

1.4

1.3

53.2
49.8

50.9
49.5

47.8
46.5

1.3
57.2
55.9

2.6
58.3
55.6

2.6
58.8
56.2

3.5
61.1
57.6

4.1
62.8
58.7

4.2
62.8
58. 6

2.7
62.6
59.9

Govt. purchases of goods and services, total.. do
Federal
- do
National defense
do__ _
State and local
-do

180.1
90.7
72.4
89.4

200.2
99.5
78.0
100.7

212.2
101.3
78.8
110.8

186.5
93.6
74.7
92.9

193.6
96.4
76.3
97.2

198., 3
98.9
77.8
99.4

202.1
100.7
78.6
101.4

206.7
101.9
79.2
104.7

208.5
100.9
78.6
1015

209.9
99.8
77.9
110.1

214. 1
102.5
79.8
111.6

216.3
102.1
78.8
114.2

219.6
102.3
79.3
117.4

218.4
99.7
76.8
118.7

221.0
98.6
75.8
122.4

223.2
98.4
74. 6
124. 8

By major type of product: f
Final sales, total
Goods total
Durable goods
Nondurable goods
Services
Structures

785.7
390.7
156.5
234. 2
316.5
78.6

857.4
422.9
170.4
252.5
347. 1
87.4

922.9
451.6
183.9
267.7
377.6
93.8

805.9
395.0
158.5
236.5
328. 4
82.5

832. 3
411.6
165.2
246.4
334.7
86.0

847.8
417.8
168.0
249. 8
343.1
86.8

867.6
429.0
173.1
255.9
352.2
86.3

882.1
433.3
175.3
258. 0
358.4
90.5

900. 2
440. 9
180.5
260.4
364. 8
94.5

915.9
448.8
182.7
266.1
372.3
94.8

931.2
454.9
184.8
270.1
383.0
93.3

944.5
461. 7
187.4
274.3
390.3
92.5

957.9
465.5
185.5
280.0
400.1
92.3

968.1
471. 8
188.5
283.3
405.8
90. 4

980.0

986.8

188.3
286. 0
413.2
92. 6

422. 2

8.2
4.7
3.5

7.6
5.7
2.0

8.5
6.4
2.1

10.0
6.1
3.9

2.6
2.5
.1

10.4

8.2
5.8
2.4

9.3
7.2
2.1

7.4
5.6
1.8

7.9
6.7
1.2

11.3
7.9
3.5

7.2
5.3
1.9

1.6
—.3
1.9

3.1
—1.9
5.0

5.5
5. 2
.3

Gross private domestic investment, total

do

Fixed investment
do
Nonresident ial
...do
Structures
- do
Producers' durable equipment
.do
Residential structures
do
Nonfarm
do_ __
Change in business inventories
do. __
Nonfarm
- - -do. __
Net exports of goods and services
Exports
Imports

-

.
_ _

Change in business inventories
Durable goods
Nondurable goods

do
-do
do

do ._
do_ _
do
do. .
do. __
do
do
..do. ._
. do _ _

7.1
3.2

8.2
8.1

9.3
9.3

7.4
7.3

179. 0

4.1

GNP in constant (1958) dollars
Gross national product, total t

-

Personal consumption expenditures, total
Durable goods
Nondurable goods
Services
Gross private domestic investment, total
Fixed investment
Nonresidential
. ___
Residential structures...
_
Change in business inventories
Net exports of goods and services

bil. $..

675.2

707.2

727.1

683.6

693.5

705.4

712.6

717.5

722.1

726.1

730.9

729.2

723.8

724.9

727.4

721.3

do

430.1

452.3

467.7

434.3

445.0

448.4

457.7

458.1

463.3

467.1

468.7

471.7

474.0

478.1

479.6

477.1

do
do
do. .

72.9
190.2
167.0

81.4
196.5
174.4

84.9
201.2
181.6

74.0
190.3
169.9

78.1
195.5
171.3

80.2
194.9
173.2

83.9
197. 9
175.9

83.2
197.6
177.4

84.9
199.7
178.7

85.7
200.9
180.5

84.1
201.9
182.7

84.9
202.4
184.4

82.7
205.6
185.8

84.9
206.6
186.6

83.6
208. 2
187. 8

188. 8

do

101. 2

105.7

111.3

105.1

101.3

107.1

105.1

109.5

109.7

111.5

114.1

110.0

102.9

103.1

104.1

101.8

93.5
73.2
20.4
7.7

98.8
75.5
23.3
6.9

104.1
80.8
23.3
7.2

95.9
72.9
23.0
9.2

98.9
76.1
22.9
2.4

97.6
73.8
23.8

97.7
74.9
22.8

9.5

8.5

103.6
79.3
24.3
6.1

104.8
80.2
24.7
6.6

104. 2
81.9
22.3
9.9

103.9
82.1
21.8
6.1

101.5
80.9
20.7
1.3

100.1
80.2
20.0
2.9

99.6
79. 6
20. 0
4. 6

98.3
76. 6
21. 7

7.4

101.0
77.1
23.9

3. 6

.9

.2

2.1

.8

1.5

1.5

2

-.4

-.3

.8

.9

1.9

2.4

do
do
__do_ ..
do
do

146.4
142.2
148.3
147.8
140.2
Govt. purchases of goods and services, total, .do
77.5
75.5
75.7
78.7
74.7
Federal
do
68.9
66.7
72.1
69.6
65.5
State and local
do
r
Revised.
v Preliminary.
1 Preliminary annual totals for 1970 for components shown
in this column appear on pp. 9-12 of this issue of the SURVEY.
t Revised series. Estimates
of national income and product and personal income have been revised back to 1967 (see




77.1

3.1

1.9

140.6
66.2
74. 4

140.5
65.8
74. 7

141.3
145.0
146.6
147.3
147.9
149.5
150. 0
148.3
148.5
67.8
71.1
73.8
75.2
78.0
75.8
79.4
78.9
79.1
73.5
73.8
72.9
72.1
72.1
71.5
69.4
70.6
69.4
p. 17 ff. of the July 1970 SURVEY); revisions prior to May 1969 for personal income appear on
p. 26 fl. of the July 1970 SURVEY.
9 Includes data not shown separately.

s-1

SURVEY OF CURRENT BUSINESS

S-2
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS

1967

1968

1969

1968
Annual total

I

II

January 1971
1969

III

IV

I

II

1970
III

IV

I

1971

II

III

I

IVP3

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income, total f
bil. $_
Compensation of employees, total
Wages and salaries, total
Private
Military .
Government civilian
Supplements to wages and salaries
Proprietors' income, total 9
Business and professional 9 __
Farm
Rental income of persons

706.1

722.2

735.2

749.3

764.0

779.5

785.2

791.5

797.4

806.6

564.2

495.3

507.6

520.9

532.5

544.9

557.5

572.2

582.1

592.2

596.4

603.8

606.8

464.8
369.1
17.9
77.8
49.3
64.1
49.1
15.0
21.3

509.0
404.9
19.0
85.1
55.1
66.8
50.5
16.4
22.0

447.9
356.0
17.3
74.7
47.4
62.9
48.5
14.4
21.3

458.9
364.7
17.6
76.6
48.7
63.8
49.2
14.6
21.3

471.0
373.4
18.6
79.0
49.9
64.4
49.2
15.3
21.3

481.4
382.5
18.2
80.7
51.1
65.2
49.4
15.8
21.3

491.6
391.5
18.1
81.9
53.3
66.0
49.9
16.2
21.6

502.9
401.2
18.4
83.4
54.6
66.7
50.5
16.2
22.0

516.4
409.9
19.9
86.6
55.8
67.5
50.9
16.6
22.1

525.3
417.2
19.6
88.5
56.8
67.2
50.6
16.6
22.3

534.4
422.6
°20. 1
"91.7
57.9
67.6
50.6
17.0
22.5

537.4
424.0
19.5
93.9
59.0
67.8
51.2
16.5
22.6

543.4
428.9
19.1
95.4
60.4
67.8
51.7
16.1
22.7

545.4
429.3
18.6
97.5
61.4
67.4
52.0
15.3
23.0

78.7

85.4

85.8

81.3

86.0

87.4

87.1

87.1

87.4

86.8

82.0

76.7

77.5

78.4

10.0
68.7
38.7
18.0
20.7

11.0
74.4
42.4
19.1
23.3

12.0
73.8
41.8
19.3
22.4

10.6
70.6
40.1
18.6
21.5

10.8
75.2
42.8
18.9
23.9

11.5
75.9
42.9
19.4
23.6

11.2
75.9
43.7
19.2
24.4

11.5
75.5
43.4
19.4
24.0

11.9
75.4
42.9
19.9
23.0

12.2
74.6
41.8
19.1
22.7

12.2
69.8
39.1
19.0
20.0

12.0
64.7
35.2
18.3
16.9

12.3
65.2
35.5
18.2
17.2

12 9
65.5
34.7
18.3
16.3

10.8
19.1

11.0
21.0

10.7
21.4

11.1
19.5

11.0
21.3

11.2
21.8

10.7
21.5

11.0
21.2

10.8
21.8

10.6
22.2

10.3
20.4

9.1
20.4

8.6
21.1

9.1
21.7

79.8
33.2
46.6
21.4
25.3
-1.1
24.4

88.7
40.6
48.2
23.3
24.9
-3.3
27.8

91.2
42.7
48.5
24.7
23.9
-5.4
30.7

86.7
39.8
46.9
22.3
24.7
-5.4
26.4

88.6
40.4
48.3
23.1
25.2
-2.6
27.3

88.4
40.4
48.0
23.8
24.2
2&2

91.3
41.7
49.6
24.1
25.5
-4.2
29.1

93.0
43.5
49.5
24.1
25.5
-5.9
29.7

93.4
43.8
49.7
24.4
25.2
-6.0
30.4

89.9
42.1
47.9
25.0
22.9
-3.2
31.0

88.5
41.4
47.1
25.2
21.9
-6.5
31.7

82.6
38.0
44.6
25.2
19.4
-5.8
32.4

82.0
38.1
43 9
25.1
18.8
-4.5
33.1

84.4
38.9
45.4
25.4
20.0
-5.9
33.8

-3.3
34.5

629.3
83.0
546.3
506.0
40.4

688.7
97.5
591.2
550.8
40.4

748.9
117.3
631.6
593.9
37.6

664.0
89.1
574.9
534.1
40.8

680.9
92.6
588.4
543.8
44.6

697.6
102.1
595.6
559.1
36.5

712.5
106.5
606.0
566.4
39.6

725.8
113.8
612.0
577.7
34.3

741.1
118.1
623.0
589.7
33.3

758.1
117.5
640.6
598.7
42.0

770.5
119.9
650.6
609.6
41.1

782.3
117.0
665.3
620.5
44.8

801.3
117.7
683.6
632.1
51.5

807.2
114.2
693.0
640.2
52.7

813.4
116.5
696.9
646.0
50.9

65.47
28.51
14.06
14.45

67.76
28.37
14.12
14.25

75.56
31.68
15.96
15.72

15.10
6.15
3.06
3.09

16.85
6.99
3.36
3.63

16.79
7.13
3.54
3.59

19.03
8.10
4.16
3.94

16.04
6.58
3.36
3.22

18.81
7.82
3.98
3.84

19.25
8.16
4.03
4.12

21.46
9.12
4.59
4.53

17.47
7.14
3.59
3.56

20.33
8.15
4.08
4.07

20.26
7.99
3.87
4.12

i 22. 52
8.98
4.37
4.61

i 18. 12
6.93
3.43
3.50

36.96
1.65
1.86
2.29
1.48
8.74
6.75
2.00
6.34
14.59

39.40
1.63
1.45
2.56
1.59
10.20
7.66
2.54
6.83
15.14

43.88
1.86
1.86
2.51
1.68
11.61
8.94
2.67
8.30
16.05

8.95
.42
.39
.68
.30
2.07
1.69
.38
1.59
3.50

9.86
.43
.37
.58
.42
2.62
1.94
.68
1.62
3.81

9.66
.39
.31
.64
.41
2.61
1.87
.74
1.61
3.69

10.93
.40
.38
.66
.47
2.90
2.16
.74
2.00
4.13

9.45
.42
.38
.68
.38
2.36
1.88
.48
1.81
3.41

10.99
.48
.44
.66
.46
2.99
2.22
.77
2.00
3.97

11.10
.47
.49
.53
.40
3.03
2.23
.80
2.11
4.07

12.34
.49
.55
.64
.44
3.23
2.61
.62
2.39
4.60

10.32
.45
.42
.73
.28
2.54
2.15
.39
2.14
3.76

12.18
.47
.47
.80
.31
3.28
2.59
.69
2.59
4.26

12.27
.46
.46
.74
.30
3.58
2.79
.78
2.56
4.16

13.54
.47
.49
.67
.34
3.93
3.32
.62

11.19
.44
.36
.50
.24
3.35
2.90
.45

514.1

do
do
do__.
do
do
do
do
do
do

423.1
337.3
16.2
69.5
44.2
62.1
47.3
14.8
21.1

Corporate profits before tax, total
do
Corporate profits tax liability _
do _
Corporate profits after tax
do
Dividends - .
do
Undistributed profits-... . . __ . _ do
Inventory valuation adjustment
do
Net interest
do
DISPOSITION OF PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income, total
bil. $
Less: Personal tax and nontax payments
do __
Equals: Disposable personal income
do
Less: Personal outlays©
._
_ do .
Equals: Personal saving§.
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals :J
All industries
bil. $
Manufacturing
do
Durable goods industries 1
do
Nondurable goods industries 1 - do

Seas. adj. qtrly. totals at annual rates:t
All industries
Manufacturing
Durable goods industries f
Nondurable goods industries f

687.2

712.7

do

Corporate profits and inventory valuation adjustment, total ._
bil. $
By broad industry groups:
Financial institutions
do
Nonfinancial corporations, total
do
Manufacturing, total
do
Nondurable goods industries
do
Durable goods industries
do
Transportation, communication, and public
utilitiesbil. $
All other industries .
. do .

Nonmanufacturing
Mining
..
Railroad
Air transportation
Other transportation
Public utilities .
Electric
Gas and other
Communication
Commercial and other

653.6
467.2

do
do
do
do
do
do
do
do
do
do

769.5

Q

25.1

2 7.64

26.31
1

do
do
do
do

68.09
28.02
14.11
13.91

66.29
27.84
13.51
14.33

67.77
28.86
14.47
14.40

69.05
28.70
14.39
14.31

72.52
29.99
15.47
14.52

73.94
31.16
15.98
15.18

77.84
33.05
16.53
16.52

77.84
32.39
15.88
16.50

78.22
32.44
16.40
16.05

80.22
32.43
16.32
16.11

81.88
32.15
15.74
16.40

i 81. 72
32.13
15.30
16.82

do
do
do
do
do
do
do
do
do
do

40.07
1.80
1.68
2.88
1.43
10.08
7.76
2 32
6.83
15.37

38.45
1.66
1.49
1.98
1.49
10.24
7.64
2.60
6.42
15.17

38.91
1.57
1.29
2.69
1.65
9.82
7.50
2.32
6.67
15.22

40.35
1.52
1.34
2.87
1.75
10.63
7.74
2.89
7.34
14.91

42.53
1.83
1.68
2.89
1.87
11.52
8.62
2.90
7.74
15.00

42.78
1.88
1.76
2.22
1.66
11.68
8.71
2.97
7.92
15.67

44.80
1.89
2.06
2.23
1.65
11.48
8.98
2.50
8.71
16.78

45.46
1.85
1.94
2.80
1.63
11.80
9.36
2.44
8.76
16.67

45.78
1.92
1.74
2.94
1.37
12.14
9.77
2.37
9.14
16.52

47.79
1.84
1.88
2.88
1.12
12.72
10.15
2.57
10.38
16.98

49.73
1.86
1.96
3.24
1.22
13.84
11.34
2.50
10.62
17.00

49.60
1.81
1.76
2.72
1.27
14.36
11.91
2.45

49.91
1.86
1.56
2.03
1.15
15.92
13.21
2.72

2 27. 68

2 27. 38

11,932
7,946
302
1,765
1,919

12, 685
8,386
344
1,990
1,965

13, 295
8,878
393
2,000
2,024

12, 714
8,378
357
1,935
2,044

11, 948
7,472
391
2,089
1,996

14, 291
9,585
313
2,150
2,243

14, 565
9,581
458
2,286
2,240

14,712
9,835
352
2,314
2,211

15,342
10,228
258
2,499
2, 357

15,914
10, 705
432
2,302
2,475

pl5, 924
r> 10,678
p341
p 2, 407
p 2, 498

Imports of goods and services
do
-40.991 -48, 127 -53,566 -11,477 -11,832
Merchandise, adjusted, excl. military
do
-26, 821 -32, 964 -35,835 -7,820 -8, 132
Military expenditures
do
-4,378 -4, 535 -4,850 -1,103 -1,112
-2, 362 -2, 932 -4,463
Income on foreign investments in the U.S_.do
-732
-677
Other services
do
-7,430 -7,696 -8, 418 -1,877 -1,856
Unilateral transfers, net (excl. military grants);
transfers to foreigners (— )
mil $
-2. 970 -2.829 -2.835
-629
-675
r
Revised.
p Preliminary.
1 Estimates (corrected for systematic biases for Oct.—
Dec. 1970 and Jan.— Mar. 1971 based on expected capital expenditures of business. Expected
2
expenditures for the year 1970 appear on p. 15 of the Dec. 1970 SURVEY.
Includes communication.
3 See note 1 on p. S-l.
tSee corresponding note on p. S-l.
9lncludes
inventory valuation adjustment.
{Revised series; explanation of revisions and annual
of the Jan. 1970 SURVEY; see also pp. 19
Digitized forandofquarterly data SURVEY.1947 appear on pp. 25 ff. comprise personal consumption expendiFRASER 1970 back to
ff. the Feb.
©Personal outlays

-12, 444.
-8,569
-1,147
-761
-1,967

-12, 374
-8, 443
-1,173
-762
-1,996

-11,618
-7, 576
-1,198
-905
-1,939

-13, 978
-9. 606
-1,187
-1,071
-2, 114

-13, 909
-9,263
-1,220
-1,240
-2, 186

-14,061
-9,390
-1,245
-1,247
-2, 179

-14,510
-9,723
-1,178
-1,348
-2,261

-14,810
-9,876
-1,255
-1,325
-2,354

p -14 ,903
p-9,958
p-1,214
p- 1,292
p-2,439

-768

-612

-812

-690

-721

-739

-721

p-752

Nonmanufacturing. _ .
Mining
Railroad
Air transportation _ _
Other transportation
Public utilities
.
Electric
Gas and other
Communication
Commercial and other.

U.S. BALANCE OF INTERNATIONAL
PAYMENTScf
Quarterly Data Are Seasonally Adjusted
(Credits -f; debits -)
Exports of goods and services (excl. transfers under
military grants)
mil $
Merchandise, adjusted, excl. military
do
Transfers under military sales contracts
do
Income on U.S. investments abroad
do
Other services
do



46, 204
30,681
1,239
6,872
7,412

50, 626
33, 588
1,396
7,690
7,952

55, 516
36, 473
1,514
8,839
8,690

-757

81. 40
31.49
15.70
15.79

tures, interest paid by consumers, and personal transfer payments to foreigners.
§Personal
saving is excess of disposable income over personal outlays,
IfData for individual durable and nondurable goods industries components appear in the
Mar., June, Sept., and Dec. issues of the SURVEY.
c^More complete details are given in
the quarterly reviews in the Mar., June, Sept., and Dec. issues of the SURVEY.
"Includes the retroactive pay increase for Federal personnel.

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