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SURVEY OF CURRENT BUSINESS July 1971 NATIONAL INCOME AND PRODUCT TABLES 1971 1970 IV III 1970 1970 1969 II 1970 Seasonally adjusted at annual rates 1971 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. . 929 1 Personal consumption expenditures . Durable goods Nondurable goods Services 579 89 247 242 Gross private domestic investment 6 9 6 1 974 1 956 0 615 8 88 6 264 7 262 5 604 0 88 6 259.4 256 1 968 5 613 8 90 7 262 9 260 2 983.5 620 90 265 265 9 4 5 0 988 4 1 020 8 1 040 5 724 7 624 84 270 268 7 9 9 9 644 97 272 275 6 6 0 0 660 100 279 280 1 0 4 7 720 0 469 3 84 8 202 7 181 8 475 81 207 187 9 4 3 2 719 8 721 1 723 3 715 9 729 7 736 3 474 4 82*3 205 7 186 4 477 i 83 8 206. 5 186 8 477 9 82 8 207 3 187 9 474 2 76 6 209 7 187 9 484 8 86 7 209 2 188 8 491 5 88 5 212 7 190 2 137 8 135 3 131 2 134 1 138 6 137 3 143 8 150 1 109 6 102 2 101 0 102 7 104 0 101 2 104 7 108 3 130 4 132 5 130 8 132 1 133 5 133 6 140 6 145 4 103 2 99 9 100 7 100 7 100 1 98 1 102 1 104 3 Nonresidential . Structures ._ . Producers' durable equipment 98 6 34 5 64 1 102 1 36 8 65 4 100 8 36 1 64 7 102 1 36 6 65 6 104 8 37 3 67 5 100 8 37 1 63 7 104 3 37 9 66 3 106 1 37 8 68 3 80 1 24 5 55 7 78 6 24 2 54 4 79 3 24 6 54 7 79 4 24 4 55 0 80 1 24 2 55 9 75 5 23 5 52 o 77 5 23 8 53 7 78 2 23 0 55 2 Residential structures Nonfarm Farm 31 8 31 2 6 30 4 29 7 6 30.0 29 4 6 29 9 29 3 g 28 7 28 1 6 32 8 32 2 6 36 4 35 7 5 39 3 38 7 6 23 1 22 6 4 21 3 20 9 4 21 4 21 0 4 21 3 20 8 4 20 0 19 5 4 22 6 22 2 4 24 6 24 2 4 26 1 25 7 4 7 4 73 1 2.8 25 3 .4 1 3 21 18 3 51 4 7 3 37 33 32 30 2 4 7 42 5 6 4 63 '1 23 20 3 3 4 2 0 17 3 39 36 3 31 28 4 26 24 2 40 36 4 Fixed investment. Change in business inventories Nonfarm . Farm . .. . . . Net exports of goods and services Exports Imports Government purchases of goods and services Federal National defense Other _. . State and local o 2 2 0 36 35 4 2 4 0 2 7 4 2 1 1 2 4 17 26 32 2 1 2 6 _7 55 6 53 6 62 9 59 3 61 5 58 0 63 2 59 0 63 7 59 7 63 2 60 5 66 1 61 9 65 8 65 7 48 5 48 3 52 2 49 8 51 6 49 9 52 8 50 1 52 4 49 2 51 9 49 8 52 8 50 1 52 5 53 2 209.7 219.4 217.3 216.5 220.1 223.7 228.2 230.2 145.6 139.4 142.6 138.7 138.2 138.3 137.6 137.2 99.2 78 4 20 7 97.2 75 4 21 9 100 2 78 9 21 3 96 8 75 1 21 6 96 1 74 2 21 9 95 9 73 2 22 7 96 7 73 0 23 7 96 0 72 0 24 0 73 8 65 4 69 4 65 3 63 8 63 2 61 5 60 6 110 6 122 2 117 1 119 7 124 0 127 9 131 5 134 2 71 9 74 0 73 2 73 4 74 3 75 2 76 1 76 6 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 Goods output. - -. . - Final sales Change in business inventories . Durable goods Final sales -.Change in business inventories _ .-_ Nondurable goods Final sales _ Change in business inventories _ Services . Structures 929 1 974 1 956 0 968 5 983 5 988 4 1 020 8 1 040 5 724 7 720 0 719 8 721 1 723 3 715 9 729 7 736 921 7 7 4 971 3 28 955 6 4 966 5 21 978 4 984 7 1 017 6 1 035 8 718 2 51 32 4 7 37 6 4 717 7 2 3 719 5 3 719 1 20 719 4 39 712 8 31 727 1 26 732 4 457.3 468.3 461.9 468.6 474 9 467.7 483.2 493 0 389 9 383.0 382.7 385.4 387.2 376.7 386.6 391. 449 9 74 465 5 28 461 5 4 466 6 469 8 464 0 21 51 37 480 0 32 488 3 4 7 383 4 6 4 380 7 23 382 4 383 4 3 2 0 383 3 39 373 6 3.1 384 0 2.6 387 4. 185 3 ._. 180.9 4 5 180 2 180 8 — 6 179 8 181 5 —1 8 181 8 183 7 —2 0 189 6 184 9 4 7 169 7 173 1 —3 4 191 8 188 0 38 193 8 190 5 33 165 9 162 1 38 156 1 156 8 — 6 157 7 159 4 —1 6 158 8 160 3 —1 5 163 7 160 0 37 144 4 147.5 —3 1 161 9 158.7 32 163 160. 2 272 0 269 0 29 288 1 284.7 34 282 1 279 9 2 2 286 9 282 9 4o 285 3 284 9 4 297 9 290 9 7 1 291 4 292 0 — 6 299 2 224 0 297 8 221 4 26 14 226 9 223 9 30 225 0 226 7 223 0 223 1 19 36 223 5 223 3 2 232 3 226.1 6 2 224 7 225.3 6 228. 227. 1 - 377.4 410.3 400.8 406.2 413.7 420.6 432.3 439.9 267.8 273.4 273.0 272.3 273.9 274.5 276.1 277. 94.4 95 5 93 4 93 7 94 9 100 1 105 2 107 7 67 0 63 6 64 1 63 4 62 2 64 7 67 0 67 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 world. . General government _. ._ . _ _ 929.1 974.1 956.0 968 5 983 5 988 4 1,020 8 1,040 5 724 7 720 0 719.8 721. 1 723.3 715.9 729.7 736. 825.3 859.8 844.5 854.8 868.3 871.6 899 5 917.4 664.0 659.4 659.1 660.4 662.8 655.4 669.0 675. 792 5 764 5 28 0 823 4 795 2 28 2 809 1 779 3 29 8 819 7 790 9 28 8 831 3 804 1 27 1 833 5 806 4 27 1 859 6 831 5 28 1 876 8 847 8 28 9 643 5 619 3 24 2 638 5 614 6 23 9 637 9 614 4 23 5 640 1 616 1 23 9 641 8 618 6 23 2 634 1 609 2 24.9 646.9 622 0 24.9 653. 628. 25. 28.5 31.7 30.9 31.0 32.1 33.0 34.2 35.0 16.5 17.0 17.1 16.8 17.0 17.1 17.6 17. 4.3 4.6 4.5 4.1 4.8 5.1 5.6 5.7 4.0 4.0 4.1 3.6 4.0 4.2 4.5 4. 103.8 114.4 111.6 113 8 115.2 116.8 121 3 123.1 60.7 60.6 60.7 60.7 60.5 60.5 60.8 61. p Preliminary. HISTORICAL STATISTICS 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 Field Offices or the Superintendent of Documents; see addresses inside front cover). Each July SURVEY contains preliminary data for the latest 2 j^ears and final data for the preceding 2. The July 1971 issue has data for 1967-70. Prior July issues have final data as follows: 1964-65, July 1968; 1965-66, July 1969; 1966-67, July 1970. QBE will provide on request a reprint of final data for the years 1964-67. July 1971 SURVEY OF CURRENT BUSINESS 13 1.—Gross National Product and National Income Table 1.1.—Gross National Product 1967 1969 1968 1967 1970 I II 1968 III IV Millions of dollars I II 1969 III IV I 1970 II III IV I II III IV Billions of dollars, seasonally adjusted at annual rates 793,927 864,202 929,095 974, 126 774.4 784.5 800.9 815.9 834.0 857.4 875.2 890.2 906.4 921.8 940.2 948-0 956.0 968.5 983.5 988.4 Personal consumption expenditures 492,066 536, 178 579,595 615,840 480.7 489.6 495.5 502.5 519.3 529.0 544.0 552.5 564.3 575.8 584.1 594.2 604.0 613.8 620.9 624.7 69.8 213.1 197.8 73.6 214.2 201.8 73.7 215.5 206.3 75.3 217.1 210.1 80.4 225.0 213. 9 82.4 227.8 218.8 86.3 233.6 224.1 87.0 236.9 228.6 89.5 241.5 233.4 90.6 246.4 238.9 89.4 249.4 245.2 90.3 253.1 250.8 88.6 259.4 256.1 90.7 262.9 260.2 90.4 265.5 265.0 84.9 270.9 268.9 Gross national product Durable goods . Nondurable goods Services - - . . .. 73, 120 84,032 89, 938 88, 624 214, 968 230,812 247, 592 264, 678 203, 978 221,334 242, 065 262, 538 Gross private domestic investment 116,555 125,974 137,781 135,300 Fixed investment Nonresidential Structures Producers' durable equipment 108,362 118, 909 130,383 132, 490 . 83,299 28, 026 88, 835 30,321 98, 598 102, 128 34, 508 36, 776 114.0 110.7 118.6 123.0 120.0 127.0 126.2 130.7 134.3 137.0 141.8 138.0 131.2 134.1 138.6 137.3 104.4 106.2 109.9 113.0 117.1 117.4 118.5 122.6 127.6 130.2 131.4 132.3 130.8 132.1 133.5 133.6 82.9 29.0 82.9 27.3 83.3 27.9 84.1 28.0 88.3 30.5 87.0 29.6 88.8 30.0 91.2 31.2 95.0 33.1 96.6 33.0 100.7 36.0 102.2 36.0 100.8 36.1 102.1 36.6 104.8 37.3 100.8 37.1 55, 273 58, 514 64, 090 65, 352 53.9 55.6 55.4 56.2 57.9 57.3 58.8 60.1 61.8 63.6 64.7 66.2 64.7 65.6 67.5 63.7 Residential structures Nonfarm . Farm 25, 063 24,494 569 30, 074 29, 525 549 31, 785 31,211 574 30, 362 29, 748 614 21.6 21.0 6 23.3 22.7 .6 26.6 26.0 6 28.8 28.3 6 28.8 28.2 6 30.5 29.9 .6 29.7 29.2 5 31.4 30.8 5 32.7 32.1 5 33.6 33.1 6 30.7 30.1 6 30.1 29.5 6 30.0 29.4 6 29.9 29.3 .6 28.7 28.1 .6 32.8 32.2 .6 Change in business inventories Nonfarm. . _ Farm 8,193 7,456 737 7,065 6,948 117 7,398 7,267 131 2,810 2,481 329 9.6 9.5 1 4.5 4.0 6 8.7 7.8 9 10.0 8.5 14 2.9 2.8 1 9.6 9.4 2 7.7 7.5 2 8.1 8.1 6.6 6.5 1 6.8 6.7 1 10.4 10.3 1 5.7 5.5 2 .4 .1 .3 2.1 1.8 .3 5.1 4.7 3 3.7 3.3 .4 Net exports of goods and services. o 5,213 2,489 2,011 3,592 5.5 5.8 5.6 4.0 1.9 3.4 3.4 1.3 1.4 1.2 2.8 2.7 3.5 4.2 4.0 2.7 46, 203 . 40, 990 50, 623 48, 134 55,600 53, 589 62, 903 59, 311 45.8 40.4 46.0 40.1 46.3 40.7 46.8 42.8 47.8 45.9 50.7 47.3 53.1 49.7 50.8 49.5 48.0 46.6 56.9 55.7 58.3 55.5 59.2 56.6 61.5 58.0 63.2 59.0 63.7 59.7 63.2 60.5 Government purchases of goods and services . 180,093 199,561 209,708 219,394 Exports Imports ... . 174.2 178.4 181.3 186.5 192.9 198.0 201.6 205.7 206.5 207.8 211.5 213.0 217.3 216.5 220.1 223.7 Federal National defense Other. 90, 706 72, 354 18, 352 97,226 75.350 21, 876 87.7 69.9 17.9 90.1 71.8 18.3 91.4 73.0 18.3 93.6 74.7 18.9 96.1 76.5 19.6 98.5 78.3 20.2 99.8 79.1 20.8 100.6 79.4 21.3 99.2 78.3 20.8 97.7 77.5 20.2 100.3 79.4 20.9 99.5 78.4 21.1 100.2 78.9 21.3 96.8 75.1 21.6 96.1 74.2 21.9 95.9 73.2 22.7 State and local 89,387 100, 793 110, 556 122, 168 86.5 88.2 89.9 92.9 96.8 99.5 101.8 105.1 107.3 110.1 111.2 113.5 117.1 119.7 124.0 127.9 98, 768 78, 295 20,473 99, 152 78, 406 20, 746 Table 1.2.—Gross National Product in Constant Dollars [Billions of 1958 dollars] 1967 1967 1968 1969 1970 I II III IV I III II 1970 1969 1968 IV I II III IV I II III IV Seasonally adjusted at annual rates 675.2 706.6 724.7 720.0 666.6 671.6 678.9 683.6 692.6 705.3 712.3 716.5 721.4 724.2 727.8 725.2 719.8 721.1 723.3 715.9 Personal consumption expenditures- 430.1 452.7 469.3 475.9 424.2 430.3 431.6 434.3 444.6 448.4 •457. 7 460.2 465.7 469.0 469.9 472.6 474.4 477.1 477. 9 474.2 72.9 190.2 167.0 81.3 197.1 174.4 84.8 202.7 181.8 81.4 207.3 187.2 70.1 190.2 163.8 74.0 190.4 165.9 73.3 190.0 168.3 74.0 190.3 169.9 78.6 194.9 171.1 80.0 195.3 173.1 83.4 198.6 175.8 83.3 199.4 177.5 85.2 201.6 178.9 85.6 202.8 180.6 84.0 203.0 182.9 84.4 203.4 184.8 82.3 205.7 186.4 83.8 206.5 186.8 82.8 207.3 187.9 76.6 209.7 187. 9 Gross private domestic investment. . 101.2 105.2 109.6 102.^2 100.7 96.7 102.4 105.1 101.6 106.8 104.9 107.7 108.4 109.4 112.4 108.2 101.1 102.7 104.0 101.2 100.7 100.7 100.1 98.1 80.1 24.2 75.5 23.5 Gross national product Durable goods Nondurable goods Services . .. Fixed investment 93.5 Nonresidential _ Structures Producers' durable equipment... _ Residential structures Nonfarm Farm _ .. Change in business inventories Nonfarm Farm. Net exports of goods and services Exports Imports . Government purchases of goods and services Federal- . State and local . 98.8 103.2 99.9 91.6 92.5 94.2 95.9 99.0 98.0 97.9 100.3 102.8 103.5 103.2 103.3 73.2 22.6 75.6 23.4 80.1 24.5 78.6 24.2 73.6 23.8 73.3 22.2 72.9 22.3 72.9 22.1 76.2 24.0 74.4 23.0 75.3 22.9 76.6 23.5 78.6 24.3 79.1 23.6 81.1 25.1 81.7 24.8 79.3 24.6 79.4 24.4 50.6 52.2 55.7 54.4 49.8 51.1 50.6 50.8 52.1 51.3 52.4 53.1 54.4 55.5 56.0 56.8 54.7 55.0 55.9 52.0 20.4 19.9 .5 23.2 22.8 .4 23.1 22.6 .4 21.3 20.9 .4 18.0 17.5 .5 19.2 18.7 .5 21.3 20.8 .5 23.0 22.5 .5 22.8 22.3 .5 23.7 23.2 .4 22.6 22.2 .4 23.7 23.3 .4 24.1 23.7 .4 24.4 24.0 .4 22.1 21.6 .4 21.6 21.2 .4 21.4 21.0 .4 21.3 20.8 .4 20.0 19.5 .4 22.6 22.2 .4 7.7 7.0 .7 6.4 6.3 .1 6.4 6.3 .1 2.3 2.0 .3 9.1 9.0 .1 4.3 3.7 .6 8.3 7.4 .9 9.2 7.8 1.4 2.6 2.5 .1 8.8 8.6 .2 7.0 6.8 .2 7.4 7.4 .1 5.7 5.6 .1 5.8 5.8 .0 9.2 9.2 .0 4.9 4.8 2 .3 .0 .2 2.0 1.7 .3 3.9 3.6 .3 3.1 2.8 .4 4.0 4.3 4.2 2.1 .9 1.8 1.6 -.3 -.5 -.3 .6 .6 1.7 2.6 3.2 2.1 42.6 40.4 43.9 43.1 45.5 43.8 47.7 46.1 45.4 45.8 42.4 42.9 50.7 51.0 50.7 50.1 50.1 49.5 51.6 49.9 52.8 50.1 52.4 49.2 51.9 49.8 142.2 145. 5 148.2 148.0 149.0 147.8 146.1 144.8 143.8 142.6 138.7 138.2 138.3 76.3 71.4 73.9 72.1 73.2 71.6 71.6 72.2 69.4 73.2 65.3 73.4 63.8 74.3 63.2 75.2 3.6 1.0 .1 2.4 42.1 38.5 45.7 44.7 48.5 48.3 52.2 49.8 41.7 37.8 42.0 37.7 42.2 38.0 140.2 147.7 145.6 139.4 137.7 140.2 140.7 74.7 65.5 78.1 69.6 73.8 71.9 65.4 74.0 72.8 64.9 74.9 65.3 75.4 65.3 75.5 66.7 77.0 68.5 78.8 69.4 78.4 69.7 78.1 70.9 CURRENT BUSINESS STATISTICS JLHE STATISTICS here update series published in the 1969 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY OF CURRENT BUSINESS. That volume (price $3.00) provides a description of each series, references to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1965 through 1968 (1958-68 for major quarterly series), annually, 1939-68; for selected series, monthly or quarterly, 1947-68 (where available). Series added or significantly revised after the 1969 BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 1968 issued too late for inclusion in the 1969 volume appear in the monthly SURVEY beginning with the September 1969 issue. Also, unless otherwise noted, revised monthly data for periods not shown herein corresponding to revised annual data are available upon request. * The sources of the data are given in the 1969 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and are also listed alphabetically on pages 189-90. Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights. 1968 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1969 1968 1970 II III 1969 IV I II 1970 III Annual total | IV I | II 1971 III | IV I HP Seasonally adjusted quarterly totals at annual rates GENERAL BUSINESS INDICATORS—Quarterly Series NATIONAL INCOME AND PRODUCT bil.$__ ' 864. 2 ' 929. 1 ' 974. 1 ' 857. 4 ' 875. 2 ' 890. 2 ' 906. 4 ' 921. 8 ' 940. 2 ' 948. 0 ' 956. 0 ' 968. 5 ' 983. 5 ' 988. 4 '1,020.8 1, 040. 5 Gross national product, total f do__. 536.2 579.6 615.8 529.0 544.0 552.5 564.3 575.8 584.1 594.2 604.0 613.8 620.9 624.7 644.6 660.1 Durable goods, total 9 - - do Automobiles and parts do Furniture and household equipment do__. 84.0 37.5 34.3 89.9 40.4 36.3 88.6 37.1 37.4 82.4 36.2 33.8 86.3 38.9 35.1 87.0 39.0 35.0 89.5 40.1 35.6 90.6 39.9 37.0 89.4 40.4 36.2 90.3 41.0 36.2 88.6 37.8 37.3 90.7 39.1 37.6 90.4 38.8 37.0 84.9 32.7 37.6 97.6 44. 1 39.5 100.0 45.4 40.1 do do do do 230.8 46.3 115.3 19.0 247.6 50.3 122.5 21.1 264.7 52.6 131.8 22.9 227.8 45.3 114.6 18.6 233.6 47.4 116.5 19.2 236.9 47.7 117.9 19.4 241.5 48.5 120.4 20.2 246.4 50.6 121.9 20.8 249.4 51.0 122.9 21.5 253.1 51.1 124.8 21.9 259.4 51.6 128.9 22.5 262.9 52.1 131.4 22.6 265.5 52.4 132.4 22.9 270.9 54.2 134.3 23.5 272.0 54.9 135.1 23.8 279.4 56.9 137. 9 24.3 do .do do do 221.3 31.2 77.3 15.5 242.1 33.7 84.0 16.5 262.5 36.1 91.2 17.9 218.8 30.8 76.6 15.4 224.1 31.5 77.8 15.7 228.6 32.1 79.7 15.8 233.4 32.8 81.4 16.2 238.9 33.0 83.0 16.4 245.2 34.1 84.7 16.6 250.8 35.0 86.9 16.8 256.1 35.1 88.7 17.5 260.2 35.7 90.3 17.6 265.0 36.7 91.8 18.1 268.9 36.9 94.1 18.3 275.0 37.7 96.4 18.6 280.7 38.6 98.5 18.9 Personal consumption expenditures, total Nondurable goods, total 9 Clothing and shoes Food and beverages.. Gasoline and oil . . Services total 9 Household operation ^ Housing _ _ Transportation Gross private domestic investment, total Fixed investment -. _ Nonresident ial Structures .__ _ Producers' durable equipment Residential structures _ _ N on farm Change in business inventories Nonfarm _ do 126.0 137.8 135.3 127.0 126.2 130.7 134.3 137.0 141.8 138.0 131.2 134.1 138.6 137.3 143.8 150.1 do do do_ _ do do do _do do 118.9 88.8 30.3 58.5 30.1 29.5 7.1 6.9 130.4 98.6 34.5 64.1 31.8 31.2 7.4 7.3 132.5 102.1 36.8 65.4 30.4 29.7 2.8 2.5 117.4 87.0 29.6 57.3 30.5 29.9 9.6 9.4 118.5 88.8 30.0 58.8 29.7 29.2 7.7 7.5 122.6 91.2 31.2 60. 1 31.4 30.8 8.1 8.1 127.6 95.0 33.1 61.8 32.7 32. 1 6.6 6.5 130.2 96.6 33.0 63.6 33.6 33.1 6.8 6.7 131.4 100.7 36.0 64.7 30.7 30.1 10.4 10.3 132.3 102.2 36.0 66.2 30.1 29.5 5.7 5.5 130.8 100.8 36.1 64.7 30.0 29.4 .4 .1 132.1 102.1 36.6 65.6 29.9 29.3 1.8 133.5 104.8 37.3 67.5 28.7 28.1 5.1 4.7 133.6 100.8 37.1 63.7 32.8 32.2 3.7 3.3 140.6 104.3 37.9 66.3 36.4 35.7 3.2 3.0 145.4 106.1 37.8 68.3 39.3 38.7 4.7 4.2 2.5 50.6 48.1 2.0 55.6 53.6 3.6 62.9 59.3 3.4 50.7 47.3 3.4 53.1 49.7 1.3 50.8 49.5 1.4 48.0 46.6 1.2 56.9 55.7 2.8 58.3 55.5 2.7 59.2 56.6 3.5 61.5 58.0 4.2 63.2 59.0 4.0 63.7 59.7 2.7 63.2 60.5 4.2 66.1 61.9 .1 65.8 65.7 199.6 98.8 78.3 100.8 209.7 99.2 78.4 110.6 219.4 97.2 75.4 122.2 198.0 98.5 78.3 99.5 201.6 99.8 79.1 101.8 205.7 100.6 79.4 105.1 206.5 99.2 78.3 107.3 207.8 97.7 77.5 110.1 211.5 100.3 79.4 111.2 213.0 99. 5 78.4 113.5 217.3 100.2 78.9 117.1 216.5 96.8 75.1 119.7 220.1 96. 1 74.2 124.0 223.7 95.9 73.2 127.9 228.2 96.7 73.0 131.5 230.2 96.0 72.0 134. 2 ' 966 5 466.6 183.7 282 9 406 2 93.7 ' 978 4 469.8 184. 9 284 9 413 7 94.9 '2.1 —2.0 4 0 '5.1 4.7 4 Net exports of goods and services ... .__ . do Exports do Imports . . do Govt. purchases of goods and services, total, .do Federal do National defense . do State and local. _.do_ __ By major type of product: f Final sales, total Goods, total Durable goods _ _ _ _ _ Nondurable goods Services Structures .. _ _ . do do do do do .do . _ . Change in business inventories.. Durable goods Nondurable goods do_ do do ' 857. 1 ' 921. 7 ' 971. 3 ' 847. 8 ' 867. 5 ' 882. 1 ' 899. 8 ' 915 0 422.4 449.9 465.5 428.*? 433. 1 417.5 441.3 447.7 180.9 169.6 172.4 180.8 167.4 174.0 179. 1 179.6 252.9 269.0 284.7 259 1 250 1 256 5 262 2 268 0 377.4 346.6 410.3 351.4 357. 6 364.0 343.0 371 9 94.4 88.1 95.5 87.2 87.4 91.4 94.5 95.3 '7.1 4.9 2.1 '7.4 4.5 2.9 '2.8 -.6 3.4 '9.6 6.7 2.9 '7.7 4.5 3. 1 '8.1 6.0 2.1 '6.6 3.8 2.8 '6.8 4.7 2. 1 ' 929 8 452.3 181.3 271 0 383 0 94.5 ' 10.4 6.5 4 0 ' 942 3 ' 955 6 461.5 458.3 183.4 181.5 274 9 279 9 390 6 400 8 93.4 93.4 '5.7 3 0 2 8 '.4 —1 8 2 2 ' 984 7 1,017.6 1, 035. 8 480.0 464.0 488.3 188.0 190.5 173. 1 297 8 292 0 290 9 432.3 439.9 420 6 105.2 107.7 100. 1 '3.7 -3.4 7 1 '3.2 3.8 —.6 4.7 3.3 1. 4 GNP in constant (1958) dollars r ' 706. 6 724.7 do 452.7 469.3 475.9 448.4 457.7 460.2 465.7 469.0 469.9 472.6 474.4 477. 1 477.9 474.2 484.8 491.5 _ __do_ do do 81.3 197. 1 174.4 84.8 202.7 181.8 81.4 207.3 187.2 80.0 195.3 173. 1 83.4 198.6 175.8 83.3 199.4 177. 5 85.2 201.6 178.9 85.6 202.8 180 6 84.0 203.0 182 9 84 4 203.4 184 8 82 3 205.7 186 4 83 8 206.5 186 8 82.8 207.3 187 9 76.6 209.7 187 9 86.7 209.2 188.8 88.5 212.7 190.2 105.2 109.6 102.2 106.8 104.9 107.7 108.4 109.4 112.4 108.2 101.0 102.7 104.0 101.2 104.7 108.3 98.8 75.6 23.2 6.4 103. 2 80.1 23 1 6.4 99.9 78.6 21 3 2.3 98.0 74.4 23 7 8.8 97 9 75.3 22 6 7.0 100 3 76.6 23 7 7.4 102 78 24 5 103 79 24 5 103 81 22 9 103 81 21 4 100 7 79 3 21 4 3 100 79 21 2 100 80 20 3 102 77 24 2 104 3 78.2 26 1 4.0 1.0 .1 2 4 18 1 6 — 3 — 5 — 3 6 6 17 2 6 3 2 2 1 2 6 Govt. purchases of goods and services, total__do 147.7 145.6 139.4 148.2 148.0 Federal do 65 4 78 1 73 8 78 8 78 4 State and local do 69.6 71.9 740 69.' 4 69.7 'Revised. *> Preliminary. f Re vised series. Estimates of national income and product and personal income have been revised back to 1967 (see p. of this issue of the SURVEY) ; 149.0 78 1 70.' 9 147.8 76 3 71.' 4 146.1 73 9 72^1 144.8 73 2 7L6 143.8 71 6 142.6 69 4 138.7 65 3 138.2 63 8 74^3 138.3 63 2 75.2 137.6 61 5 76.1 Gross national product, totalf -- Personal consumption expenditures, total Durable goods Nondurable goods Services... _ _ _ _ _ Gross private domestic investment, total bil. $ do Fixed investment _ _ do Nonresidential do_ Residential structures do Change in business inventories... _ _ _ _ .do Net exports of goods and services do ' 720. 0 ' 705. 3 ' 712. 3 ' 716. 5 ' 721. 4 ' 724. 2 ' 727. 8 ' 725 2 ' 719 8 ' 721. 1 8 6 1 7 5 1 4 8 2 1 1 2 3 7 6 9 72.' 2 73.2 7 4 3 0 73.4 723. 3 1 1 0 9 ' 715. 9 ' 729. 7 98 75 22 3 1 5 6 1 1 5 6 6 736.3 137. 2 60 6 76.6 revisions prior to May 1970 for personal income appear on p.22 ff. of this issue of the SURVEY. 9 Includes data not shown separately. s-1 SURVEY OF CURRENT BUSINESS S-2 1968 Unless otherwise stated in footnotes below, data through 1968 and descriptive notes are as shown in the 1969 edition of BUSINESS STATISTICS 1968 1969 | 1970 III Annual total July 1971 1969 IV I II 1970 III IV I II 1971 IV III I HP III GENERAL BUSINESS INDICATORS—Quarterly Series—Continued NATIONAL INCOME AND PRODUCT— Con. Quarterly Data Seasonally Adjusted at Annual Rates National income, total f - bil. $ - ' 711. 1 ' 763. 7 ' 795. 9 ' 720. 3 r 732. 7 •• 745. 9 r 758. 9 ' 771. 7 ' 778. 2 ' 785. 8 ' 793. 4 ' 802. 2 f 802. 1 r 832. 2 Compensation of employees, total do 514.6 565.5 601.9 521.6 533.6 545.9 559.1 573.6 583.6 593.2 598.5 606.5 609.3 627.9 639.6 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 do do do do do do do do do 464.9 369.2 17.9 77.8 49.7 64.2 49.5 14.7 21.2 509.6 405.5 19.0 85.1 56.0 67.0 50.3 16.8 22.6 541.4 426.6 19.4 95. 5 60.5 66.9 51.0 15.8 23.3 471.1 373.5 18.6 79.0 50.5 64.6 49.9 14.7 21.1 481.6 382.7 18.2 80.7 52.0 65.3 49.8 15.5 21.3 491.8 391.8 18.1 81.9 54.1 66.7 50.2 16.5 22.0 503.7 402.0 18.4 83.4 55.3 67.1 50.5 16.6 22.6 516.9 410.4 20.0 86.5 56.7 67.1 50.5 16.6 22 7 525.8 417.7 19.6 88.5 57.8 67.2 49.8 17.4 22.9 534.7 422.5 20.2 92 1 58.5 68.0 50.2 17.8 23.0 538.5 424.4 19.5 94.5 60.0 67.6 51.0 16.6 23.2 545.2 429.4 19.2 96.6 61.3 66.0 51.4 14.5 23.4 547.2 429.9 18.6 98.6 62.1 65.9 51.5 14.4 23.7 562.3 441.2 19.2 101.8 65.7 66.4 51.6 14.8 23.8 572.6 450.0 18.6 104.0 67.0 67.1 51.9 15.2 24.2 84.3 78.6 70.8 85.9 84.7 82.7 80.7 78.0 73.3 69.8 71.5 73.0 69.0 79.0 11.3 73.0 41.7 19.3 22.4 12.1 66.5 36.0 17.5 18.4 12.8 58. 1 29.5 16.6 13.0 11.8 74.2 42.0 19.7 22.3 11.8 72.9 41.6 19.1 22.5 12.0 70.7 39.3 18.2 21.1 12.3 68.4 36.9 18.0 18.9 12 2 65.8 34.8 17.0 17.8 12.0 61.3 33.0 16.9 16.1 11.3 58.5 31.1 16.7 14.3 12.1 59.4 31.5 16.5 14.9 13.5 59.5 30.6 16.8 13.8 14.0 54.9 25.0 16.2 14.2 64.8 33.9 17.1 16.9 10.6 20.7 10.0 20.6 8.0 10.3 21.0 10.6 20.8 10.4 21.0 9.8 8.2 21.2 9.1 19.2 19.2 7.8 7.9 8.1 20.5 10.6 21.5 20.1 20.9 21.9 % 5 22.4 87.6 39.9 47.8 23.6 24.2 -3.3 26.9 84.2 39.7 44.5 24.4 20.0 -5.5 29.9 75.4 34.1 41.2 25.0 16.2 -4.5 33.0 86.9 39.5 47.4 24.1 23.3 89.0 40.4 48.5 24.3 24.3 -4.2 27.8 88.7 41.8 46.9 24.0 22.9 -6.0 28.6 86.9 41.0 45.9 24.2 21.6 -6.3 29.4 81.2 38.2 43.0 24.7 18.3 -3.2 30.2 80.0 37.7 42.3 24.9 17.4 -6.7 31.1 75.6 34.1 41.5 25.0 16.6 -5.8 31.8 75.8 34.5 41.3 24.9 16.4 -4.2 32.6 78.5 35.6 42.9 25.2 17.7 -5.5 33.4 71.6 32.3 39.2 25.0 14.3 -2.6 34.2 82.6 37.9 44.7 25.6 19.1 —3.5 35.0 -5.2 35.8 688. 9 97.9 591.0 551.2 39.8 «• 750. 3 116.2 634.2 596.3 37.9 834 7 112.7 722.0 663 2 58 8 855 0 113.9 741.1 679 0 62.1 67.76 28.37 14.12 14.25 75.56 31.68 15.96 15.72 79.71 31.95 15.80 16.15 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 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 47.76 1.89 1.78 3.03 1.23 13.14 10.65 2.49 10.10 16.59 9.66 10.93 9.45 .39 .31 .64 .41 .40 .38 .66 .47 .42 .38 .68 .38 2.61 1.87 2.90 2.16 2.36 1.88 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 utilities bil $ All other industries do 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 :t All industries bil. $ Manufacturing do Durable goods industries H do Nondurable goods industries V - ...do. . Nonmanufacturing Mining Railroad Air transportation _ _ Other transportation. . . Public utilities Electric Gas and other ... Communication. Commercial and other Seas. adj. qtrly. totals at annual rates:}: All industries Manufacturing Durable goods industries f Nondurable goods industries f Nonmanufacturing Mining. . Railroad Air transportation Other transportation Public utilities Electric Gas and other Communication Commercial and other do do do do _ . .do . do do do do do T r 803. 6 115.9 687.8 633.7 54.1 -.9 27.1 ' 697. 8 ' 712. 6 107.1 102.7 605.5 595.2 568.1 559.3 37.3 35.9 .74 .74 r 726. 8 113.6 613.2 580.4 32.8 .48 r 743. 1 117.2 625.9 592.4 33.4 r 759. 3 116.1 643.2 600.9 42.3 r 772. 2 ' 784. 3 r 803. 8 r 8.8 r r 117.8 654.5 611.4 43.1 116.7 667.6 621.5 46.2 118.0 685.7 631.5 54.2 809. 8 113.5 696.2 638.9 57.4 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.o7 4.12 21.66 8.66 4.26 4.40 17 68 6.69 3.11 3.58 i 20 80 7.66 3.68 3.98 i 20 68 7.69 3.68 4.01 10.99 11.10 12.34 10.32 12. 18 12.27 12.99 10 99 13.15 12 99 .48 .44 .66 .46 .47 .49 .53 .40 .49 .55 .64 .44 .45 .42 .73 .28 .47 .47 .80 .31 .46 .46 .74 .30 .50 .43 .76 .33 .49 .34 .34 .28 .52 .50 .61 .41 .49 .45 .36 .40 2.99 2.22 3.03 2.23 3.23 2.61 2.54 2.15 3.28 2.59 3.58 2.79 3.74 3.12 3.11 2.70 3.90 3.30 .60 4.02 3.25 .41 .77 .80 .62 .39 .69 816. 7 115.2 701.5 643.0 58.5 25.4 .78 .63 .77 1.61 3.69 2.00 4.13 1.81 3.41 2.00 3.97 2.11 4.07 2.39 4.60 2.14 3.76 2.59 4.26 2.56 4.16 2.81 4.42 2.50 3.94 27.21 27.26 do do do do 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 78.63 30.98 14.92 16.05 79.32 30.46 14.21 16.25 182. 38 30.54 14.66 15.88 i 82. 83 30.68 14.89 15.79 do do do do do do do do do do 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 47.66 1.94 1.56 3.08 1.22 13.68 11.20 2.48 10.20 15.97 48.86 2.04 1.46 1.29 1.33 14.64 12.16 2.48 10.70 17.39 2 51.84 2.01 2.00 2.30 1.59 15.18 12.98 2.20 52.15 2.00 1.87 1.56 1.56 15.64 13.15 2.49 28. 75 2 29. 51 13 284 8 878 12,701 8,378 11,995 7,510 14, 222 9,490 14, 574 9,602 14,811 9,888 15 374 10 241 15, 806 10, 582 15, 930 10, 696 U.S. BALANCE OF INTERNATIONAL PAYMENTSd* Quarterly Data Are Seasonally Adjusted (Credits +; debits -) Exports of goods and services (excl. transfers under military grants) mil $ Merchandise adjusted excl military do Transfers under U.S. military agency sales contracts mil $ Receipts of income on U.S. investments abroad mil $ Other services do Imports of goods and services do Merchandise, adjusted, excl. military do Direct defense expenditures. do Payments of income on foreign investments in the U.S mil. $.. Other services do 50 623 33 588 55 600 36, 490 62, 903 41, 980 1 395 1 515 1,480 393 357 407 329 442 336 274 447 327 433 P507 9 233 6 407 10, 539 7 056 11, 409 8,034 2,398 1 615 2,339 1 627 2,471 1,607 2,585 1,818 2,716 1,814 2,767 1,820 2 925 1 934 2,791 1,986 2,855 2 052 2,839 2,062 p 2, 845 p 2,131 -48,134 -53, 589 -59,311 -12, 436 -12, 384 -11, 657 -13, 926 -13, 866 -14, 142 -14, 493 -14, 761 -14, 935 -15, 125 p- 15,464 -32,964 -35, 830 -39,870 -8,568 -8,441 -7,589 -9,566 -9,278 —9, 397 -9,728 -9,831 -9,992 -10,319 p- 10,760 -4,535 -4,856 -4,851 -1,147 -1,173 -1,198 -1,187 -1,221 —1,251 -1,182 -1,255 — 1,211 -1,203 p-1,184 -3,013 -4,564 -7,621 -8,339 -929 -1,078 -1,242 —1,315 -1,348 -1,322 -1,284 -1,213 -5,167 -800 -775 -9,425 -1,946 -1,970 -1,941 -2,095 -2,125 —2, 179 -2,235 -2,353 -2,448 -2,390 T Revised. p Preliminary. i Estimates (corrected for systematic biases) for Apr.June and July-Sept. 1971 based on expected capital expenditures of business. Expected expenditures for the year 1971 appear on p. 16 of the June 1971 SURVEY. 2 Includes communication. fSee corresponding note on p. S-l. 9 Includes inventory valuation adjustment. J Revised series; explanation of revisions and annual and quarterly data back to 1947 appear on pp. 25 ff. of the Jan. 1970 SURVEY; see also pp. 19 ff. of the Feb. 1970 15, 795 p 16,515 10, 461 p 11, 032 p-1,118 p-2,402 SURVEY. ©Personal outlays comprise personal consumption expenditures, interest paid by consumers, and personal transfer payments to foreigners. §Personal saving is excess of disposable income over personal outlays. IJData for individual durable and nondurable goods industries components appear in the Mar., June, Sept., and Dec. issues of the SURVEY. cfRevised; more complete details, as well as revised quarterly data back to 1966, appear on p. 24 ff. of this issue of the SURVEY.
@FedFRASER