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SURVEY OF CUERENT BUSINESS

January 1975

31

NATIONAL INCOME AND PRODUCT TABLES
1974

1973
1973

1974*

III

IV

I

II

1973
III

IV P

1973

1974*

III

1974
IV

Seasonally adjusted at annual rates

I

II

III

IV p

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)
1 294.9 1, 396. 7 1, 308. 9 1, 344. 0 1, 358. 8 1, 383. 8 1,416.3 1,428.0

-

Nonresidential
Structures Producers' durable equipment
Residential structures
Nonfarm..
Farm..
Change in business inventories
Nonfarm - .
Farm..

823 1

803 7

901 3

896 8

552 1

539 9

555 4

546 3

539 7

542 7

547 2

530 1

127.8
380.2
369.1

132.4
343.8
340.1

124.3
352.1
347.4

123.9
364.4
352.4

129.5
375 8
363.8

136.1
389.0
376.2

121.5
391.5
383.8

113.6
228.6
209.9

103.4
223.8
212.8

114.3
230 0
211.2

107.2
227 4
211.7

105.2
223 9
210.6

106 8
223 6
212 2

107 8
225 8
213 7

93 7
221 7
214 7

208.9

209.0

224.5

210.5

211.8

205.8

207.6

138.1

126.3

135.8

145 8

133 3

130 3

122 7

118 9

195.6

197.1

195.5

193.6

198.3

197.1

193.2

127.3

118.1

127.7

125 8

122 7

122 2

117 7

109 7

149.6
52.2
97.4
46.0
45.2
.7

139.0
47.9
91.1
58.1
57.6
.5

141.9
49.3
92.6
53.6
53.0
.6

145.2
51.3
93.9
48.4
47.8

149 4
52.2
97.2
48.8
48.0
.8

150.9
51.0
99.9
46.2
45.4

152.7
54.3
98.4
40.5
39.8
.7

94 4
25.4
69.0
32.9
32.6
.3

94.1
26.2
67.8
24.0
23.6
.4

95 1
25.6
69.5
32.6
32.4
.3

96 0
26.0
70.0
29.8
29.5

96 3
26.7
69.7
26.4
26.0

96 5
26 6
69.9
25 7
25.3

94 1
25 4
68.7
23.6
23.1

89 3
26 2
63.1
20 4
20.1

13.4
11.0
2.4

11.8
7.4
4.4

28.9
24.0
4.9

16.9
13.1
3.8

13.5
10.4
3.1

8.7
6.6
2.1

14.4
13.8
.7

10.8
8.9
1.8

8.2
6.9
1.3

8.0
6.2
1.9

20 0
17.9
2.1

10.6
8.7
1.8

8 2
64
1.8

50
3.9
1.1

9 1
88
.4

3.9

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

6.7

9.3

11.3

-1.5

-3.1

1.2

4.6

9.0

5.8

7.9

11.5

8.2

7.3

8 9

139.4
137.5

103.7
96.9

113.6
104.3

131.2
119.9

138.5
140.0

143.6
146.7

144.3
143.2

66.6
62.0

71.6
62.6

66.9
61.1

68.9
61.0

73.3
61.8

73.4
65.1

70.9
63.6

68.9
60.0

276.4

308.8

276.9

286.4

296.3

304.4

312.3

322.4

144.4

145.9

143.7

145.7

146.0

145.8

145.9

145.8

106.6
74.4
32.2
169 8

. ...

2.0

100.4
96.4

Net exports of goods and services..
Exports
Imports.

827 1

869 1

15.4
11.4
4.0

.-

830 5

840 6

136.8
47.0
89.8
57.2
56.7
.5

Fixed investment

845 7

823 9

209.4

Gross private domestic investment . . .

840 8

816 3

130.3
338 0
336.9

...

821 1

877 0

194.0

Durable goods
Nondurable goods
Services

839.2

805 2

Gross national product
Personal consumption expenditures

116.4
78.6
37.9
192.4

105.3
73.3
32.0
171 6

108.4
75.3
33.1
177.9

111.5
75 8
35.7
184 8

114.3
76 6
37.7
190 1

117.2
78.4
38.8
195.1

122.8
83.5
39.3
199.6

57.3

56.3

56.2

56.4

56.3

56.3

56.5

56.3

87.0

89.5

87.5

89.3

89.7

89. 5

89.4

89 5

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
1 294 9 1 396 7 1 308 9 1,344 0 1, 358. 8 1 383.8 1,416.3 1, 428. 0

839.2

821.1

840.8

845.7

830.5

827.1

823.1

803 7

1, 279. 6 1. 383. 3 1, 297. 0 1,315.1 1, 341. 9 1, 370. 3 1, 407. 6 1, 413. 5
14.4
13.4
16.9
8.7
15.4
11.8
28.9
13.5

Gross national product
Final sales
Change in business inventories .

828.4
10.8

812.9
8.2

832.7
8.0

825.7
20.0

819.9
10.6

818.9
8.2

818.1
5.0

794.6
9.1

622 7

670.4

629 9

653.6

651.9

664 9

681.7

683.2

459.1

443.0

458.8

465.1

449.1

448.9

446.0

427.8

Final sales
Change in business inventories

607 3
15.4

657.1
13.4

618 0
11.8

624 7
28.9

635 0
16.9

651 3
13.5

673.0
8.7

668.8
14.4

448.3
10.8

434.8
8.2

450.8
8.0

445.1
20.0

438.5
10.6

440 8
8.2

441.0
5.0

418.7
9. 1

Durable goods
Final sales
Change in business inventories

250.3
240 9
9.4

256.4
249 9
6.5

252 8
243 9
9.0

255.4
240 6
14.8

251.0
242 3
8.7

246 6
248 5
—1.8

265.5
259.8
5.7

262.5
249.3
13.2

206.0
198.5
7.5

195.6
191.4
4.2

206.3
199.0
7.2

206.3
194.9
11.5

200.2
194.3
5.8

195.4
196.6
-1.2

200.2
196.6
3.6

186.7
178.2
8.5

Nondurable goods
Final sales
Change in business inventories

372.4
366.5
6.0

414.0
407.1
6.9

377.1
374.2
2 9

398.2
384.1
14.1

401.0
392.8
8.2

418 2
402.9
15 4

416.2
413.2
3.0

420.7
419.5
1.2

253.1
249.9
3.3

247.4
243.3
4.0

252.6
251.7
.8

258.7
250.2
8.5

248.9
244.2
4.7

253.6
244.2
9.4

245.8
244.4
1.4

241.1
240.5
.6

Services

534.4

589 1

540 2

553 2

569 7

579.2

597.8

609.8

304.5

310.5

306.9

307.8

310.7

308.3

310.7

312.2

Structures

137 8

137 1

138 8

137 2

137 1

139 7

136.7

135.0

75.5

67.6

75.1

72.8

70.7

69.8

66.4

63.7

830.5

827.1

823.1

803.7

819.8

800.9

736.6
708.0
28.6

717.3
691.6
25.7

Goods output

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product

1 294.9 1, 396. 7 1 308 9 1 344.0 1 358.8 1,383.8

839.2

821.1

840.8

845.7

1 286.5 1,385.6 1 300.6 1 335.2 1 344.0 1,374.1 1, 405. 2 1,419.2

Business
Nonfarm
Farm
Households and institutions
...

Rest of the world
Addendum : Gross private product

.

833.9

817.1

835.7

840.7

823.5

824.1

1 096.8 1, 177. 9 1 109.2 1, 138. 8 1, 143, 1 1, 168. 8 1, 195. 7 1, 203. 8
1 040 3 1 124.1 1 049 0 1 074 5 1 082 6 1 117 8 1, 144. 4 1 151.7
52.1
51.3
51. 1
56 5
53.8
60.5
60 2
64.4

Gross domestic product. _

General government
Federal
State and local

1,416.3 1, 428. 0

753. 1
725 8
27.4

734.1
706.6
27.5

754.4
728.6
25.8

759.2
731.0
28.2

740.9
713.9
27.0

741.4
712.7
28.7

18.5

18.9

18.8

18.7

19.1

18.8

18.9

18.9

63.9
21.1
42.8

64.2
21.0
43.2

64.8
21.0
43.7

3.0

3.3

2.8

763.2

758.8

738.9

41.3

47.0

42 0

43.0

44.6

46.5

48.0

166.5
57.9
108.V6

62.3
21.3
41.0

64.1
21.1
43.1

62.4
21.1
41.3

62.9
21.1
41.7

63.5
21.1
42.3

8.8

5.2

4.0

5.1

5.0

7.0

148 5
52.8
95.7

160.8
55.7
105.1

149 4
52 4
97 1

153 4
54 3
99 1

156 3
54 8
101 5

158 8
55.0
103 9

161.6
55.3
106.3

8.4

11.1

83

89

14 7

9.7

48.9

11.1

1,146.5 1,235.9 1,159.5 1,190.7 1,202.5 1,225.0 1,254.7 1,261.5

776.9

757.0

778.4

782.8

767.0

Preliminary.

HISTORICAL STATISTICS
THE national income and product data for 1929-63 are in The National Income and Product Accounts of the United States, 1929-1965,
Statistical Tables (available at $1 from Commerce Department District Office or the Superintendent of Documents; see addresses inside front
cover). Each July SURVEY contains preliminary data for the latest 2 years and fully revised data for the preceding 2. The July 1974 issue has
data for 1970-73. Prior July issues have fully revised data as follows: 1969-70, July 1973; 1968-69, July 1972; 1967-68, July 1971; 1966-67,
July 1970; 1965-66, July 1969; 1964-65, July 1968.




CURRENT BUSINESS STATISTICS

J.HE STATISTICS here update series published in the 1973 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (available from the Superintendent of Documents for $5.15) provides a description of each series, references
to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1969 through 1972 (1962-72 for major quarterly
series), annually, 1947-72; for selected series, monthly or quarterly, 1947-72 (where available). Series added or significantly revised after the 1973
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 1972 issued too late for
inclusion in the 1973 volume appear in the monthly SURVEY beginning with the August 1973 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 1973 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.
1971

Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes areas shown in
the 1973 edition of BUSINESS STATISTICS

1972

1973

1971
IV

1972
I

II

1974

1973

| III

IV

I

III

II

| IV

I

[

II

III

| IVpi

Annual total
Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT!
1,416.3 1,428.0

1,158.0

1,294.9

1,083.2

1,115.0

1,143.0

1,169.3

1,204.7

1,248.9

1,277.9

1,308.9

1,344.0

1,358.8

1,383.8

Personal consumption expenditures, total.. do

667.1

729.0

805.2

683.8

701.5

720.6

736.8

757.2

781.7

799.0

816.3

823.9

840.6

869.1

901.3

896. 8

Durable goods, total 9
do
Automobiles and parts. __
do
Furniture and household equipment.. -do

103 9
46 6
42.3

118 4
53.1
48.7

130.3
57.5
55.0

107.4
48.1
43.9

112 1
49.4
47.1

116.2
51.5
47.9

121.2
55.3
49.3

124.3
56.4
50.7

132.4
60.4
54.3

132.1
59.2
54.9

132.4
59.3
55.5

124.3
51.2
55.4

123.9
48.0
57.5

129 5
50.6
59.5

136.1
56. 2
60.4

121.. 5
43.7
58.4

Nondurable goods, total?
Clothing and shoes
Food a n d beverages . _ _
Gasoline and oil

278.4
57 3
135.9
23 5

299.7
63 0
143.7
25 0

338.0
70.2
165.1
og q

283.4
58.5
137.6
24.3

288.4
60 0
139.3
24 6

297.4
62.5
142.4
24.5

302.0
63.7
144.7
25 1

310.9
66.0
148.5

323.3
69.1
155.9
26.8

332.7
70.1
160.9
28.0

343.8
70.6
169.1
28.7

352.1
70.9
174.5
29.8

364.4
72.8
180.1
31.5

375 8
74 4
183 5
36 8

389. 0
75.7
191.3
37.9

31)1.5
73.5
11)6. (i
37. o

- - - - - - do
do
do
do

284.8
39.4
99. 1
20.4

310.9
43.3
107.9
21.8

336.9
47.3
116.4
23.4

293.0
40.5
102. 6
21.1

301.0
41.2
105. 1
21.5

307.0
42.6
106.9
21.6

313.6
43.9
108.9
21.9

322.0
45.5
110.7
22.3

325.9
45.6
113.1
22.8

334.2
46.6
115.6
23.1

340.1
48.3
117.0
23.6

347.4
48.7
119.7
24.1

352.4
49.2
122.2
25.0

363 8
51.7
124 9
25 6

376.2
54.6
127.7
26.5

383.8
56. '2
130. 1)
">7. 5

Gross private domestic investment, total. ..do

Gross national product, totalf

Services total 9
Household operation
Housing
Transportation

bil. $. . 1,054.9

_.

--

do
do
. .do
do

153.7

179.3

209.4

160.8

169.4

175.5

182.1

190.2

199.0

205.1

209.0

224.5

210.5

211.8

205. 8

207. (>

do
do
do
do
do
do
do
do

147.4
104.6
37 9
66.6
42.8
42.3
6.3
4.9

170.8
116.8
41.1
75.7
54.0
53.4
8.5
7.8

194.0
136.8
47.0
89.8
57.2
56.7
15.4
11.4

155.4
107.8
38.4
69.4
47.6
47.0
5.4
4.4

164.5
112.7
40.7
72.0
51.8
51.2
5.0
4.1

167.6
114.7
41.0
73.7
52.9
52.3
8.0
7.0

171.9
117.5
40.6
76.8
54.5
53.9
10.2
9.6

179.2
122.5
42.2
80.3
56.7
56.2
11.0
10.4

189.0
130.5
44.6
85.9
58.5
58.0
10.0
6.5

194.4
135.6
46.2
89.4
58.7
58.4
10.7
7.7

197.1
139.0
47.9
91.1
58.1
57.6
11.8
7.4

195.5
141.9
49.3
92.6
53.6
53.0
28.9
24.0

193. 6
145.2
51.3
93.9
48.4
47.8
16.9
13.1

198.3
149.4
52. 2
97.2
48.8
48.0
13.5
10.4

197 1
150 9
51 0
99 9
46.2
45 4
8.7
6 6

11)3. 12
152. 7
54.3

do
do
.. do

-.2
65.4
65.6

-6.0
72.4
78.4

3.9
100.4
96.4

-3.4
62.0
65.4

-7.1
69.1
76.1

-6.9
68.8
75.7

-4.8
73.3
78.1

-5.3
78.5
83.8

-.8
88.8
89.5

.5
95.4
94.9

6.7
103.7
96.9

9.3
113.6
104.3

11.3
131.2
119.9

-1.5
138. 5
140.0

-3.1
143 6
146.7

1.2
144.3
143. 2

234.2
97.6
71.2
136.6

255.7
104.9
74.8
150.8

276.4
106.6
74 4
169.8

242.1
100.5
72.1
141.6

251.1
105 6
75 9
145.5

253.8
105.9
75 9
147.9

255.1
102.7
72 6
152.4

262.6
105.2
74 7
157.4

269.0
106.4
75 0
162.6

273.3
106.2
74.0
167.1

276.9
105.3
73.3
171.6

286.4
108.4
75.3
177. 9

296.3
111.5
75.8
184.8

304.4
114.3
76.6
190.1

312.3
117.2
78.4
195. 1

322. 4
122. X
83.5
11)1). 0

1,048.6
491.6
191.8
299.8
446.0
111.0

1,149.5
535. 2
214.3
321.0
488.1
126.1

1,279.6
607.3
240.9
366.5
534.4
137.8

1,077.8
501.8
197.0
304.7
459.3
116.8

1,110.0
514.3
204.6
309.7
472.1
123.6

1,135.1
529.4
210.6
318.9
481.5
124.1

1,159.1
541.0
218.3
322.7
492.4
125.6

1,193.7
556. 2
223.6
332. 6
506.5
130.9

1,238.9
585.8
237.8
347.9
516.0
137.1

1,267.2
600.9
241.2
359. 7
528. 3
138.0

1,297.0
618.0
243.9
374. 2
540.2
138.8

1,315.1
624. 7
240.6
384.1
553.2
137.2

1,341.9
635. 0
242.3
392. 8
569. 7
137.1

1,370.3
651.3
248. 5
402. 9
579. 2
139.7

6.3
2.4
4.0

8.5
7.1
1.4

15.4
9.4
6.0

5.4
.3
5.1

5.0
2.7
2.2

8.0
5.8
2.2

10.2
6.8
3.4

11.0
13.2
-2.2

10.0
6.1
3.9

10.7
7.7
3.0

11.8
9.0
2.9

28.9
14.8
14.1

16.9
8.7
8.2

13.5
-1.8
15.4

8.7
5. 7
3.0

14.4
13. 1'
I.1'

746.3

792.5

839.2

759.1

770.9

786.6

798.1

814.2

832.8

837.4

840.8

845.7

830.5

827.1

823. 1

X03. 7

496.4

527.3

552.1

531.2

542.2

552.9

553.7

555. 4

546.3

539.7

542.7

547. 2

530. 1

92.5
211 3
192 6

104.9
220 2
202 2

113.6
228 6
209 9

91 9 fi

01 A A

195 2

117.2
298 7
207 1

115.7
228 3
209 7

114.3
°30 0
°11 2

107.2
2°7 4
9
11 7

105. 2
993 9
°10 6

106.8
223. 6
212. 2

107. 8
225. 8
L'13. 7

1)3. 7
221. 7
•'14.7

111 1

125 0

138 1

114 8

134 4

136 3

135 8

145 8

133 3

130.3

122. 7

US.!)

127 1
99 2
35.0
7.3

128 4
94 3
34.1
7.8

127 7
95 1
32.6
8.0

125 8
96,0
29.8
20.0

122 7
96.3
26.4
10.6 i

122. 2
96. 5
25.7
8.2

117.7
1)4. 1
23.6
5.0

101). 7
S'.t. 3

1.4

3.5

5.8

7.9

8.2

7.3

X. ! )

Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential structures
Nonfarm
Change in business inventories
Nonfarm
Net exports of goods and services
Exports
Imports . ...
..

Govt. purchases of goods and services, total, do
Federal
do
National defense
do
State and local
.
. -do
By major type of product:!
Final sales, total
Goods, total
_
Durable goods
Nondurable goods. .Services
Structures

_

do
do. .
.. do
do. ..
do
do

Change in business inventories
do
Durable goods
do
Nondurable goods
. . . . . . ..do

<)X. 4
40. 5
3D. X
14. 4
13 X

1,407.6 1 113.5
66X. X
673. 0
259. 8
!'{!». 3
413.2
4 lit. 5
<i()!). X
597. 8
135. 0
136.7

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

bil. $..

Personal consumption expenditures, total, .do
Durable goods
Nondurable goods
Services

do
do
do

Gross private domestic investment, total., do ..

504.1

96.3

512.8

523.2

198 6

103.0
219 8
200* 4

203 0

110.1
925 4
206 6

119 4

123 2

126 6

130 9

99.8

106.8
991 ^

Fixed investment
Nonresidential
Residential structures
Change in business inventories

do
do
do
do

105 8
76 7
29.1
5.3

118 0
83 7
34.3
7.0

127 3
94 4
32.9
10.8

110 2
78 6
31.6
4.6

115 2
81 3
33.8
4.2

116 6
82 4
34.2
6.6

118 1
83 8
34.3
8.5

122 0
87 2
34.8
8.8

Net exports of goods and services

do

-.5

-3.0

4.6

—2. 4

-4.9

-3.6

-1.4

-1.9

Govt. purchases of goods and services, total, do
Federal
..
do
State and local
...do

139.3
143.1
144.4
142.6
143.8
57 3
60 9
61 0
62 4
69 9
78.4
82.1
87.0
80.2
80.9
r
Revised.
P Preliminary.
1 Preliminary annual totals for 1974 for components shown
in this column appear on pp. 31-34 of this issue of the SURVEY.
t Revised series. Estimates
of national income and product and personal income have been revised back to 1971 (see




11.5

L'O. 4

'.1. 1

145. S
145. 1)
145.8
146.0
145.7
143.7
143.9
143.0
144.1
141.8
143.8
5f>. 3
59 9
56.3
5<>. 5
56.3
56 4
56 2
57 7
59 5
62 5
58 9
X'.). 5
S'.t. 4
8'J. 7
81). 5
89.3
87.5
86.2
85.2
81.3
82'. 4
83^8
p. 11 if. of the July 11)74 SURVEY); revisions prior to May 11)73 for poi>onal income appear OIL
pp. 22-23 of the Jiily 11)74 SURVEY.
9 Includes data not shown separately.

S-l

SURVEY OF CUERENT BUSINESS

S-2
Unless otherwise stated in footnotes below, data
through 1972 and descriptive notes are as shown in
the 1973 edition of BUSINESS STATISTICS

1971

|

1972

1972

1 1973
I

Annual total

II

January 1975
1973

III

I

IV

II

1974
IV

III

I

II

1975
III

IV P«

I

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
Implicit price deflators :t
Gross national product
. Index, 1958=100
Personal consumption expenditures
do
Gross private domestic investment:
Fixed investment
.
-do
Nonresidential
do
Residential structures
. __do
Govt. purchases of goods and services
do

141.35
134.4

146. 12
138.2

154. 31
145.9

144. 62
136.8

145. 31
137.7

146. 50
138.7

147. 96
139.7

149. 95
141.4

152. 61
144.3

155. 67
147.0

158. 93
150.8

163. 61
155.8

167.31
160.2

172. 07
164.7

177. 68
169.2

139.3
136.3
147.4
168.1

144.8
139.6
157.4
178.6

152.4
144.9
174.0
191.5

142.8
138.5
153.2
174.6

143.8
139.3
154.6
176.5

145.6
140.2
158.9
179.9

146.9
140.5
162.8
183.6

148.7
141.7
167.1
186.7

151.4
143.9
172.1
189.9

154.3
146.1
178.1
192.6

155.4
147.9
179.7
196.5

157.8
150.7
183.8
202.9

162.3
154.9
190.0
208.8

167.5
160.4
195.9
214.1

176.0
170.9
198.3
221.0

bil. $

857. 7

946.5

1,065.6

912.3

932.5

954.3

987.0 1,027.6

1,051.2 1,077.3 1,106.3

1,118.8

do

643.1

707.1

786.0

683.8

699.0

712.6

732.9

759.1

776.7

793.3

814.8

828.8

848.3

868.2

877.3

do
do
do
do
do

573.6
449.5
19.4
104.7
69.5

626.8
491.4
20.5
114.8
80.3

691.6
545.1
20.6
126.0
94.4

606.6
475.1
20.9
110.6
77.1

619.7
486.7
20.1
113.0
79.3

631.2
495.3
19.9
116.0
81.4

649.6
508.7
21.2
119.7
83.4

667.6
525.0
20.8
121.9
91.5

683.6
538.7
20.3
124.5
93.1

698.2
550.8
20.2
127.2
95.1

717.0
565.8
21.0
130.2
97.7

727.6
573.8
21.0
132.8
101.2

744.6
588.3
20.9
135.4
103.7

761.5
602.5
20.8
138.2
106.7

768.8
604.7
22.0
142.0
108.5

do
do
_ -_do _.
do

69.2
62.0
17.2
25.2

75.9
64.9
21.0
25.9

96.1
57.6
38.5
26.1

72.9
53.7
19.2
25.5

74.6
64.3
20.3
24.4

75.8
55.6
20.3
26.8

80.1
56.1
24.0
26.7

89.1
57.0
32.1
26.3

92.8
67.1
35.6
25.7

99.3
57.7
41.5
26.2

103.2
58.4
44.9
26.4

98.4
59.3
39.1
26.4

89.9
60.7
29.1
26.3

92.1
62.3
29.8
26.6

91.6
62.5
29.1
26.8

78.7

92.2

105.1

86.5

89.5

92.9

99.8

103.9

105.0

105.2

106.4

107.7

105.6

105.8

15.6
63.1
32.3
17.8
14.6

17.6
74.5
40.8
19.0
21.8

19.6
85.5
47.6
21.5
26.1

17.1
69.4
37.7
18.4
19.3

17.4
72.1
39.6
18.1
21.5

17.8
75.1
40.8
19.4
21.4

18.3
81.5
45.1
20.0
25.1

18.7
85.2
48.6
20.9
27.6

19.4
85.6
48.4
21.5
26.9

19.8
85.4
47.1
21.4
25.7

20.4
86.0
46.4
22.1
24.3

20.8
87.0
46.2
26.9
19.3

20.7
84.9
46.8
29.7
17.1

20.7
85.1
48.6
33.3
15.3

8.3
22.6

9.2
24.6

9.2
28.7

8.5
23.2

8.9
23.6

9.5
24.8

9.9
26.6

9.4
27.2

8.8
28.4

9.5
28.8

9.2
30.3

7.1
33.7

8.0
30.1

8.6
28.0

do
do
do
do
do

83.6
37.5
46.1
25.0
21.1

99.2
41.5
57.7
27.3
30.3

122.7
49.8
72.9
29.6
43.3

92.3
38.9
53.4
26.4
27.1

96.0
40.3
55.7
27.1
28.6

100.2
41.8
58.4
27.8
30.6

108.2
45.2
63.1
28.2
34.9

120.4
48.9
71.5
28.7
42.8

124.9
50.9
74.0
29.1
44.9

122.7
49.9
72.9
29.8
43.1

122.7
49.5
73.2
30.7
42.5

135.4
52.2
83.2
31.6
51.6

139.0
55.9
83.1
32.5
50.5

157.0
62.7
94.3
33.2
61.1

do
do

-4.9
41.6

-7.0
45.6

-17.6
62.3

-5.8
43.6

-6.6
44.9

-7.3
46.2

-8.4
47.5

-16.5
49.2

-20.0
51.1

-17.5
53.2

-16.3
55.5

-27.7
57.5

-33.4
60.1

-51.2
62.8

864.0
117.6
746.4
685.9
60.5

944.9
142.4
802.5
749.9
62.6

1,055.0
151.3
903.7
829.4
74.4

913.3
138.6
774.7
721.4
53.3

930.9
140.9
790.0
741.1
49.0

950.3
143.1
807.2
757.9
49.3

985.0 1,013.6 1,039.2 1,068.0 1,099.3 1,112.5 1,134.6 1,168.2 1, 186. 4
147.2
154.2
168.2
147.0
159.9
177.8
144.1
175.1
161.9
892.1
913.9
939.4
838.1 869.5
966.5
993.1 1, 008. 7
950.6
822.5
779.2
840.7
850.1
894.9
804.2
927.6
923.3
866.2
69.6
73.2
89.3
65.5
85.4
58.9
71.5
65.3
84.4

bil. $
do
do
do

81.21
29.99
14.15
15.84

88.44
31.35
15.64
15.72

99.74
38.01
19.25
18.76

19.38
6.61
3.29
3.32

22.01
7.63
3.71
3.92

21.86
7.74
3.86
3.87

25.20
9.38
4.77
4.61

21.60
7.80
3.92
3.88

24.73
9.16
4.65
4.51

25.04
9.62
4.84
4.78

28.48
11.43
5.84
5.59

24.10
9.49
4.74
4.75

28.16
11.27
5.59
5.69

28.23
11.62
5.65
5.96

do

51.22

57.09

61.73

12.77

14.38

14.12

15.83

13.69

15.57

15.42

17.05

14.61

16.89

16.61

18.02

15.20

. .

do
do
do
do

2.16
1.67
1.88
1.38

2.42
1.80
2.46
1.46

2.74
1.96
2.41
1.66

.58
.48
.60
.32

.61
.48
.73
.39

.69
.38
.61
.35

.63
.47
.63
.40

.63
.46
.52
.32

.71
.46
.72
.43

.69
.48
.67
.44

.71
.56
.60
.47

.68
.50
.47
.34

.78
.64
.61
.49

.80
.64
.43
.58

.83
.72
.45
.63

.81
.63
.42
.44

Public utilities
Electric
...
Gas and other
Communication
. . ...
Commercial and other

do
.do
do
.do
do

15.30
12.86
2.44
10.77
18.05

17.00
14.48
2.52
11.89
20.07

18.71
15.94
2.76
12.85
21.40

3.63
3.19
.44
2.72
4.55

4.24
3.61
.62
2.95
4.98

4.39
3.67
.72
2.84
4.97

4.74
4.01
.73
3.39
6.67

3.95
3.45
.60
2.87
4.94

4.59
3.91
.68
3.27
6.40

4.82
4.04
.77
3.19
6.24

5.36
4.54
.82
3.53
5.83

4.38
3.85
.52
3.19
5.05

5.30
4.56
.75
3.60
5.46

5.20
4.42
.78
3.39
5.57

5.72
4.82
.90

4.69
4.04
.65

29.67

28.20

Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
Durable goods industries If
Nondurable goods industries ^

do
do
do
do

86.79
30.09
15.06
15.02

87.12
30.37
14.77
15.60

87.67
30.98
15.67
15.31

91.94
33.64
16.86
16.78

96.19
35.51
17.88
17.63

97.76
36.58
18.64
17.94

100.90
38.81
19.73
19.08

103.74
40.61
20.48
20.13

107.27
42.96
21.43
21.53

111.40
45.32
22.50
22.82

do

66.70

66.75

66.70

68.30

60.68

61. 18

62.09

63.12

64.31

66.08

66.94

67.06

67.38

do
do
do
do

2.42
2.10
1.96
1.48

2.38
1.88
2.89
1.53

2.40
1.50
2.67
1.41

2.46
1.71
2.33
1.42

2.69
2.11
2.21
1.53

2.77
1.75
2.72
1.62

2.82
1.95
2.49
1.79

2.76
2.05
2.20
1.73

2.80
2.10
2.13
1.63

3.07
2.42
2.21
1.84

3.27
2.68
1.84
2.16

3.24
2.79
1.70
2.38

3.34
2.68
1.91
2.42

National income totalf

...

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

Corporate profits and inventory valuation
ment total
By broad industry groups:
Financial institutions
Nonflnancial corporations, total
Manufacturing total
Nondurable goods industries
Durable goods industries

adjustbil. $
do
do
do
do
do

Transportation, communication, and public
utilities
bil $
All other industries
do
Corporate profits before tax total
Corporate profits tax liability
Corporate profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment
Net interest

1,130.2 1,155.5

33.3
-29.8
65.9

DISPOSITION OF PERSONAL INCOME f
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income, total
Less; Personal tax and nontax payments
Equals: Disposable personal income
Less: Personal outlays©
Equals: Personal saving§

bil. $..
do
do
do
do

NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
4.11 industries
Manufacturing
Durable goods industries 1 _
Nondurable goods industries ^
NonmanufacturingMining.
„
Railroad
Air transportation
Other transportation. _

Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation

16.60
16.92
Public utilities
do
14.32
14.27
Electric
do
2.27
2.65
Gas and other
do. . .
11.59
11.71
Communication.
do ..
19.88
20.10
Commercial and other
do
r
Revised.
» Preliminary.
i Estimates (corr scted for systematic biases) for Oct.Dec. 1974 and Jan.-Mar. 1975 based on expected cap ital expenditures of business. Expected
2
Includes
expenditures for the year 1974 appear on p. 20 of th 3 December 1974 SURVEY.
9 Includes inventory valuation
communication.
t See corresponding note on p. S-l.




131.44 126.38
11.18
13.42
5.34
6.69
5.84
6.73

113.99 i 114. 40 i 118.06
50.68
47.04
47.33
2409
23.08
23.45
23.96
23.88 26.59

21.68
20.12
20.97
20.16
19.80
21.11
18.38
18.08
18.58
17.53
17.01
17.96
17.84
18.10
17.12
16.72
17.47
15.40
15.55
16.00
14.62
14.67
3.72
3.26
3.00
2.87
2.68
2.52
3.08
2.98
2.58
2.86
2.38
13.94
13.24
13.83
14.01
12.34
12.70
13.12
11.56
12.63
2
22.84 2 35. 83 35. 36
21.63
21.69
21.55
21.35
21.36
21.53
20.21
20.16
0 Per
sonal out lays coniprise pe rsonal cc nsumpti 3n expei iditures, interest
adjus tment.
paid by corisu mers, an d person al transfe r payme nts to for eigners.
§ F ersonal saving is excess o f disposa ale inconle over p srsonal 01itlays.
HE ata for i ndividua 1 durabk and noiidurable goods in dustries cjompone nts appear in the
1
« S ie note p. S-l.
Mar. , June, Sept., and Dec. issues of th e SURVE r.

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