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SURVEY OF CUREENT BUSINESS

10

July 1973

NATIONAL INCOME AND PRODUCT TABLES
1972
1971

1972

I

II

1973

III

IV

I

1972

UP

1971

1972

I

II

Seasonally adjusted at annual rates

1973

III

IV

II v

I

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)

.
._.

785 6

796 7

812 3

829 3

834 6

719 2

734 1

752 6

779.4

795 1

496 3

526 8

512 5

523 4

531 0

540 5

552 7

553 8

117.4
299.9
309.2

111.5
288.8
300.0

115.1
297.9
306.2

120.2
302.3
311.6

122.9
310.7
319.0

132.2
322.2
325.0

133.1
329.8
332.2

92.2
211.6
192.4

104.0
220.9
201.8

99.2
215.0
198.2

101.9
220.7
200.8

105.8
222.2
202.9

109 2
225.8
205.4

117 0
228 8
207 0

116 6
228 1
209 0

153.2

178.3

167.5

174.7

181.5

189.4

194.5

199.2

110.3

122.9

116.5

121.0

124.8

129.1

130 2

131 0

172.3

165.8

169.2

172.9

181.2

189.9

194.0

105.0

118.3

115.4

116.7

118 2

122 8

126 9

127 1

104 4
37.9
66.5

118.2
41.7
76.5

114 0
41.0
73.1

116.3
41.5
74.9

118 3
41.3
77.0

124 3
43.0
81.2

130.9
45.3
85.5

134.4
47.2
87.3

76.1
22.5
53.6

83.7
23.0
60.8

81.5
23.0
58.4

82 5
23.0
59.5

83 4
22 7
60 7

87 5
23 1
64 3

91 2
23 g
67 4

91 8
24 3
67 5

42.7
42.2

...

. .
„. ..

Fixed investment
Nonresidential
Structures
-.
Producers' durable equipment

52.8
52.3

54.5
53.9

59.5
59.0

29.0
28.6

34 6
34.2

34.0
33.6

34.2
33.9

34 7
34.3

35 3
35.0

35 6
35 3

35 3
35 0

6.6
6.6
.0

6.3
6.2

33
32

39
38

Net exports of goods and services

._ __ _

—.9

-.8

2 0

4 9

51 8
51.2

.6

.6

.6

6.0
5.6
.4

1.7
1.4
.4

5.5
4.8
.7

.8

-

54.0
53.5

.6

6.1
4.5
1.6

--

Change in business inventories.
Nonfarm
-Farm
- ---

Exports
Imports

768 0

700 2

103.6
278.7
284.9

..

Gross private domestic investment

Residential structures
Nonfarm
Farm
-

790.7

726 5

147.1

Durable goods. .
Nondurable goods
Services

745.4

667 2

1,055 5 1, 155. 2 1,112 5 1, 142. 4 1,166 5 1, 199. 2 1, 242. 5 1,271.0

Gross national product
Personal consumption expenditures

-4.6

-5.7

-5.5

56.9
56.4

59.0
58.4

.6

.5

.6

8.7
8.4
.3

8.2
7.9
.3

-3.8

-3.5

.5

.4

4.6
4.4
.2

5.3
5.1
.1

5.3
3.8
1.4

.0

1.7

.4

-2.0

-3.7

.4
4.6
4.5
.1

.4

1.1
1.0
.1

.4

4.3
4.0
.3
-2.8

.4

.3

.1

4

.1

3

1

66.3
65.5

State and local

- .
-

69.9
75.6

74.0
77.7

79.7
83.2

89.7
89.7

95.1
93.4

52.7
52.4

56.4
58.4

55.4
59.1

54.1
56.8

56.6
57.5

59.6
60.3

65.3
63 3

65.3
60 4

255.0

250 3

254.2

254 7

260 7

268 6

275 0

138.4

143 0

142.7

144 0

141 8

143 5

144 4

144 9

104.4
74.4
30.1

106.0
76.5
29.5

106.7
76.6
30.1

102.3
71.9
30.4

102.7
72.4
30.3

105.5
74.3
31.2

106.5
74.5
32.0

60.9

60.8

63.0

62.9

58.8

58.6

58.2

57 5

136.2

Federal
National defense ...
Other

70.3
75.8

98.1
71.6
26.5

Government purchases of goods and services

73.5
78.1

234 3

.

150.5

144.3

147.5

152.4

158.0

163.0

168.5

77.5

82.2

79.7

81.1

83.0

85.0

86.2

87.4

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
1, 055. 5 1, 155. 2 1, 112. 5 1, 142. 4 1, 166. 5 1,199 2 1, 242. 5 1, 271. 0

745.4

790.7

768.0

785.6

796.7

812.3

829.3

834.

1, 049. 4 1, 149. 1 1, 110. 8 1, 136. 9 1, 157. 8 1, 191. 0 1, 237. 8 1, 265. 8
8.2
5.3
6.1
5.5
4.6
6.0
1.7
8. 7

Gross national product
Final sales
Change in business inventories

740.1

786.1

781.3

790.0

806.0

826.0

830.

4.6

766.9
1. 1

5.3

4.3

6.6

6.3

3.3

3.

497.1

541.4

516.9

536.4

548.6

563.6

589.6

605.2

396.1

423.9

407.3

421.5

428.4

438.4

452.1

455.

Final sales
Change in business inventories

491.1

535.4

515.2

531.0

555.4

599.9

390.8

406.2

417.2

432. 1

4.6

448 7

451.

1.1

4.3

421.7

1.7

5.5

585.0

419.3

6.0

539.9

6.1

3.3

3.

Durable goods
Final sales
Change in business inventories

193.1
191.1

219.1
214.1

205.9
205.5

Nondurable goods
Final sales
.
Change in business inventories

304.0
299.9
4. 1

322.3
321.2
1. 1

447.4
110.9

487.3
126.5

Goods output

Services
Structures

2.0

_ ,

4.9

8.7

8.2

214.6
211.4

222.6
216.8

311.0
309.7

321.9
319.6

326.0
323.1

471.8
123.8

481.5
124.4

3.2

.4

1.3

2.3

5.3

6.6

6.3

180.4
177.7

186.2
181.8

196.3
188.0

203.4
200.3

209.
202.

241.1
239.5

1.6

2.2

242.1
244.1
—1.9

248.7
248.5

.8

242.2
240.0

.2

245.
248.

—3.

286.8
73.9

290.3
73.8

294.5
73.8

298.8
75.1

300.6
76.7

302.

4.6

5.3

233.2
222.8
10.4

242.5
238.1

252.6
243.2

163.0
161.3

184. 1
180.2

173.5
173.2

2.9

330.3
332.5
—2.2

347.2
346.9

.3

352.7
356.7
—4. 1

233.1
229.5

239.8
239.1

233.8
233.0

491.8
126.2

503.9
131.7

514.8
138.1

525.4
140.4

280.1
69.1

292.6
74.2

5.8

4.4

9.3

1.7

3.6

3.9

.7

.3

2.7

4.4

8.2

3.2

6.

76.

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
1,055.5 1, 155. 2 1,112.5 1,142.4 1, 166. 5 1, 199. 2 1,242.5 1,271.0

Gross national product

Business
Nonfarm
Farm

745.4

790.7

768.0

785.6

796.7

812.3

829.3

834.

980.3 1, 008. 6 1, 030. 0 1, 060. 0 1, 098. 9 1, 125. 2

684.7

729.5

707.3

725.0

735.3

750.3

767.1

772.,

984.9 1, 013. 6 1, 050. 5 1, 076. 2
951.0
976.9 1, 008. 9 1, 032. 9
43.3
36.7
41.6
33.9

662.2
636.3
26.0

706.6
682.0
24.6

684.7
659.2
25.6

702.6
677.4
25.2

712.3
688.7
23.6

726.8
702.5
24.2

742.9
718.1
24.8

748.
726.

17.2

17.4

17.5

17.4

5.5

6.2

18.0

6.3

18.
5.

61.3
21.7
39.7

62.0
21.7
40.3

62.2
21.6
40.6

62.
21.
41.

S30.3 1,019.7

Private
. . .
.

.

. ..

Households a n d institutions _ i
Rest of the world
General government
Federal
State and local

_._
- . . . _

._

889.9
859.4
30.4

975.4
941.0
34.4

937.8
904.8
33.0

965.2
931.3
33.9

33.5

36.8

35.5

36.6

37.5

37.8

6.8

7.6

8.7

39.3
9. 1

125.1
47.6
77.6

135.4
50.3
85.1

132.2
50.5
81.7

133.8
50.0
83.8

136.5
50.2
86.4

139.2
50.5
88.7

143.5
52.5
91.1

7.0

7.5

7.0

40.5

16.8

17.4

8.5

5.6

5.5

5.4

5.0

145.8
52.2
93.6

60.7
23.0
37.6

61.1
21.8
39.3

60.7
22.1
38.6

60.6
21.7
38.9

22.

p 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 Offices or the Superintendent of Documents; see addresses inside
front cover). Each July SUKVEY contains preliminary data for the latest 2 years and fully revised data for the preceding 2. The July 1973
issue has data for 1969-72. Prior July issues have fully revised data as follows: 1968-69, July 1972; 1967-68, July 1971; 1966-67, July 1970;
1965-66; July 1969; 1964-65, July 1968. BEA will provide on request a reprint of the fully revised data for the years 1964-69.



SURVEY OF CURRENT BUSINESS

18

July 1973

1.—Gross National Product and National Ineome
Table 1.1.—Gross National Product
1970

1969

1969

1970

I

II

IV

III

I

Millions of dollars
Gross national product. .

1971

1972

1971

II

III

IV

I

II

1972
IV

III

I

II

III

IV

Billions of dollars, seasonally adjusted at annual rates

930,284 977,080 1,055,450 1,155,155 907.0 923.5 941.7 948.9 958.5 970.6 987.4 991.8 1,027.2 1,046.9 1,063.5 1,084.2 1,112.5 1,142.4 1,166.5 1,199.2

Personal consumption expenditures

579,457 617, 644

667, 151

726,506 564.0 575.8 583.7 594.4 604.6 614.0

623.7 628.3

650.0

662.2

673.0

683.4

700.2

719.2

734.1

752.6

90, 790 91, 298
245, 923 263, 779
242, 744 262, 567

103, 582
278, 709
284, 860

117,409

90.2 91.0 90.6 91.4 90.9 92.8 93.4 88.1
299, 916 240.2 245.1 247.3 251.1 257 1 261.2 265.7 271.1
309, 181 233.7 239.6 245.8 251.9 256.6 259.9 264.6 269.1

100.3
273.5
276.1

101.9
278.0
282.3

105.4
279.8
287.8

106.7
283.5
293.2

111.5
288.8
300.0

115.1
297.9
306.2

120.2
302.3
311.6

122.9
310.7
319.0

138,951 136,275

153, 196

178,274 135.6 138.6 143.8 137.9 133.1 135.4 139.2 137.4

145.5

152.7

153.8

160.8

167.5

174.7

181.5

189.4

131, 146 131, 747

147, 131

172, 253 128.6 130.4 133.2 132.3 131.0 130.5 133.2 132.3

138.5

145.0

149.5

155.6

165.8

169.2

172.9

181.2

Nonresidential
98, 509 100, 568
Structures
34, 224 36, 145
Producers' durable equipment- -. 64,285 64,423

104,411
37,884
66, 527

118, 236
41, 698
76, 538

95.5
32.4
63.1

96.9 100.2 101.4 100.0 101.0 102.8
33.4 35.4 35.8 35.6 36.1 36.4
63.5 64.8 65.7 64.3 64.9 66.5

98.5
36.5
62.0

101.4
37.0
64.4

103.6
37.6
66.0

104.7
38.4
66.3

108.0
38.5
69.5

114.0
41.0
73.1

116.3
41.5
74.9

118.3
41.3
77.0

124.3
43.0
81.2

32,637 31, 179
31,994 30, 701

Durable goods
Nondurable goods
Services
Gross private domestic investment
Fixed investment.

643

42, 720
42, 165
555

54, 017
53, 456
561

33.1
32.4
.8

33.5
33.1
.4

33.0
32.0
.9

30.9
30.5
.4

31.1
30.5
.5

29.5
29.2
.3

30.4
29.9
.4

33.8
33.1
.6

37.1
36.6
.5

41.5
41.0
5

44.8
44.1
.7

47.5
46.9
.6

51.8
51.2
.6

52.8
52.3
.6

54.5
53.9
6

56.9
56.4
5

7,805
7,702

4,528
4,306

6,065
4,484

103

Change in business inventories .. -Nonfarm
Farm

478

222

1,581

6,021
5,601
420

6.9
6.8
.1

8.1
8.0
.1

10.6
10.6
.1

5.5
5.4
.2

2.1
1.8
.3

4.9
4.7
.2

6.0
5.8
.2

5.1
4.9
.2

7.0
5.8
1.2

7.6
6.3
1.4

4.3
2.4
2.0

5.3
3.5
1.8

1.7
1.4
.4

5.5
4.8
.7

8.7
8.4
.3

8.2
7.9
.3

1,911

Residential structures.
Nonfarm
Farm

3,630

807

-4,609

1.2

1.1

2.6

2.7

3.6

3.9

4.2

2.8

3.8

.5

1.1

-2.2

-5.5

-5.7

-3.8

-3.5

55, 502 62,919
53, 591 59, 289

66, 287
65, 480

73,462

47.9
46.6

56.8
55.8

58.1
55.5

59.2
56.5

61.5
57.9

63.1
59.2

63.9
59.7

63.2
60.4

65.9
62.1

67.1
66.6

69.1
68.0

63.0
65.2

70.3
75.8

69.9
75.6

74.0
77.7

79.7
83.2

Government purchases of goods and
services
.. 209,965 219,531

234,296

217.2 217.3 220.3 223.3

227.9

Net exports of goods and services
Exports
Imports

Federal.
..
National defense
Other

.

98, 781 96, 182
78,402 74, 588
20,379 21, 594

State and local

254,984 206.2 208.1 211.6 214.0

98, 067
71, 560
26, 507

111, 184 123,349

. . .

78, 071

136, 229

231.5

235.5

242.2

250.3

254.2

254.7

260.7

94.8
72.6
22.2

96.1
72.3
23.9

96.7
71.3
25.4

98.2
70.3
27.9

101.2
72.4
28.8

106.0
76.5
29.5

106.7
76.6
30.1

102.3
71.9
30.4

102.7
72.4
30.3

150, 538 107.4 110.4 112.3 114.6 117.8 121.5 125.6 128.5

131.8

134.8

137.3

141.0

144.3

147.5

152.4

158.0

104, 446

74,371

30, 075

97.6
77.3
20.3

98.8
78.0
20.8

99.4
78.9
20.5

99.3
79.4
19.9

99.5
78.5
21.0

95.8
74.0
21.8

94.7
73.2
21.5

Table 1.2.—Gross National Product in Constant Dollars
[Billions of 1958 dollars]

1969
1969

1970

1972

1971

I

II

1970
III

IV

I

III

II

1972

1971
IV

I

II

III

IV

I

II

III

IV

Seasonally adjusted at annual rates
725.6

722.5

745.4

790.7

722.4

725.8

729.2

725.1

721.2

722.1

727.2

719.3

735.1

740.4

746.9

759.0

768.0

785.6

796.7

812.3

Personal consumption expenditures . 469.1

477.5

496.3

526.8

465.5

469.3

469.5

472.2

474.3

477.5

480.9

477.5

489.5

493.6

498.0

504.1

512.5

523.4

531.0

540.5

85.6 83.8
201.3 206.5
182.2 187.2

92.2
211.6
192.4

104.0
220.9
201.8

85.9
200.6
179.0

86.0
202.0
181.3

85.0
201.2
183.3

85.4
201.5
185.2

84.5
203.8
186.0

85.8
205.1
186.5

85.6
207.2
188.1

79.3
209.8
188.4

89.3
210.2
189.9

90.2
211.8
191.7

93.6
211.5
192.9

95.8
213.0
195.3

99.2
215.0
198.2

101.9
220.7
200.8

105.8
222.2
202.9

109.2
225.8
205.4

Gross national product
Durable goods .
Nondurable goods
Services

..

110.3

122.9

109.7

110.8

114.0

107.4

102.6

103.5

105.4

102.1

106.6

110.3

109.5

114.8

116.5

121.0

124.8

129.1

105.0

118.3

103.8

103.9

104.6

102.8

100.7

99.1

100.5

97.6

100.7

103.8

105.5

110.1

115.4

116.7

118.2

122,8

77.2
23.7

76.1
22.5

83.7
23.0

79.2
23.6

79.3
23.9

80.9
24.9

80.9
24.6

78.5
24.1

78.3
23.9

78.6
23.6

73.5
23.1

74.8
22.9

75.5
22.6

75.6
22.4

78.4
22.1

81.5
23.0

82.5
23.0

83.4
22.7

87.5
23.1

55.8

53.5

53.6

60.8

55.6

55.4

56.0

56.3

54.4

54.3

55.1

50.4

51.9

52.9

53.2

56.3

58.4

59.5

60.7

64.3

23.7
23.2
.5

22.2
21.9
.4

29.0
28.6
.4

34.6
34.2
.4

24.5
24.0
.6

24.6
24.3
.3

23.7
23.0
.7

21.9
21.6
.3

22 2
2l! 8
.4

20.8
20.6
.2

21.8
21.5
.3

24.1
23. 6
.5

25.9
25.6
.3

28.3
27.9
.4

29.9
29.5
.5

31.7
31.3
.4

34.0
33.6
.4

34.2
33.9
.4

34.7
34.3
.4

35.3
35.0
.3

6.7
6.7
.0

3.9
3.7
.1

5.3
3.8
1.4

4.6
4.5
.1

6.0
5.9
.0

6.8
6.8
.0

9.4
9.4
.0

4.6
4.5
.1

1.9
1.6
.2

4.4
4.3
.1

4.9
4.8
.1

4.5
4.4
.1

5.8
4.8
1.1

6.5
5.3
1.3

4.0
2. 2
L8

4.7
3.1
1.6

1.1
1.0
.1

4.3
4.0
.3

6.6
6.6
.0

6.3
6.2
.1

Gross private domestic investment. . 110.5
Fixed investment

103.4

103.8

99.5

Nonresidential
.. ...
Structures
Producers' durable equipment _ .

80.1
24.3

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 Ipcal




.2

2.3

.4

-2.0

-.2

-.6

.7

.8

2.0

2.1

3.0

2.0

2.4

-.2

.8

-1.6

-3.7

-2.8

-.9

48.4
48.3

52.2
50.0

52.7
52.4

56.4
58.4

42.6
42.8

50.3
50.9

50.5
49.9

50.3
49.4

52.0
50.0

52.5
50.5

52.4
49.5

51.9
49.9

52.8
50.4

53.4
53.7

54.9
54.1

49.7
51.3

55.4
59.1

54.1
56.8

56.6
57.5

145.9

139.3

138.4

143.0

147.4

146.3

145.1

144.6

139.1

138.0

137.8

136.7

136.7

138.6

141.6

142.7

144.0

141.8

73.5
72.4

64.3
75.0

60.9
77.5

60.8
82.2

76.1
71.4

73.9
72.4

72.3
72.7

71.5
73.1

64.5
74.6

62.4
75.5

61.8
76.0

60.1
76.6

59.9
76.8

61.1
77.5

62.5
79.1

63.0
79.7

62.9
81.1

58.8
83.0

142.3

68.8
73.7

59.6
60.3
143.5

58.6
85.0

CURRENT BUSINESS STATISTICS

1.HE STATISTICS here update series published in the 1971 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (available from the Superintendent of Documents for $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, 1967 through 1970 (1960-70 for major quarterly
series), annually, 1947-70; for selected series, monthly or quarterly, 1947-70 (where available). Series added or significantly revised after the 1971
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (t), respectively; certain revisions for 1970 issued too late for
inclusion in the 1971 volume appear in the monthly SURVEY beginning with the September 1971 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 1971 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.
1970

Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes areas shown in
the 1971 edition of BUSINESS STATISTICS

1971 | 1972

1970
II

Annual total

III

1971
| IV

I

II

1972

III

IV

I

II

1973

| III

•IV

I

| II*

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
bil.$__ r 977. 1 '1,056.5 ••1,155.2 '970.6 ' 987. 4 ' 991. 8 '1,027.2 '1,046.9 '1,063.5 '1,084.2 '1,112.5 '1,142.4 '1,166.5 '1,199.2 '1,242.5 1,271.0

Gross national product, total t

Personal consumption expenditures, total.. do
Durable goods total 9
do_.
Automobiles and parts
do
Furniture and household equipment.-.do

617.6

667.2

726.5

614.0

623.7

628.3

650.0

662.2

673.0

683.4

700.2

719.2

734.1

752.6

779.4

795.1

91.3
37.3
39.6

103.6
46.6
42.1

117.4
52.8
48.1

92.8
39.3
39.4

93 4
39.1
39.6

88 1
33.1
40.3

100.3
44.7
41.3

101.9
45.5
41.6

105.4
48.3
41.9

106.7
47.8
43.6

111.5
49.4
46.6

115.1
51.2
47.3

120.2
55.0
48.6

122.9
55.7
50.0

132.2
60.5
53.7

133.1
59.9
54.5

Nondurable goods, total 9
Clothing and shoes
.
Food and beverages
Gasoline and oil

do
do
do
do

263 8
52.8
130 0
22 2

278 7
57.0
136 6
23 5

299
62
145
25

9
3
3
5

261.2
52 5
128 5
22 1

265 7
52 7
131 5
22 3

271 1
54 5
133 3
22 7

273.5
55.7
134 1
22 9

278 0
57.0
136 2
23 1

279.8
57.4
137 6
23 6

283.5
58.1
138 4
24 5

288 8
59.4
141 0
24 7

297 9
61.7
144 7
25 0

302.3
62.9
146 5
25 8

310.7
65.1
149 1
26 6

322.2
68.3
154 7
27 5

329.8
69.6
157 8
28 5

Services total 9
Household operation
Housing
_ ..:
Transportation

do
do
do
do

262.6
36 4
90.9
18 3

284.9
39 7
98.5
20 4

309.2
43 8
105.5
21 8

259.9
35 9
90.2
18 0

264.6
36 9
91.4
18 5

269.1
37 3
93.3
18 9

276.1
38 4
95.4
19.4

282.3
39 3
97.6
20 1

287.8
40 3
99.5
20 6

293.2
40 7
101.4
21 2

300.0
41 8
103.1
21 6

306.2
43 2
104.7
21 7

311.6
44 5
106.3
21 8

319.0
45 7
107.9
22 2

325 0
46 5
110.6
22 8

332.2
47 2
113.2
23.2

136.3

153.2

178.3

135.4

139.2

137.4

145.5

152.7

153.8

160.8

167.5

174.7

181.5

189.4

194.5

199.2

131 7
100 6
36.1
64.4
31 2
30 7
45
4 3

147 1
104 4
37.9
66.5
42 7
42 2
61
45

172 3
118 2
41 7
76.5
54 0
53 5
6 0
56

130 5
101 0
36 1
64.9
29 5
29 2
49
4 7

133 2
102 8
36.4
66.5
30 4
29 9
6 0
58

132 3
98 5
36 5
62.0
33 8
33 1
51
4 9

138 5
101.4
37.0
64.4
37 1
36 6
70
58

145 0
103 6
37.6
66.0
41 5
41 0
76
6 3

149 5
104 7
38.4
66.3
44 8
44 1
43
24

155 6
108 0
38.5
69.5
47 5
46 9
53
3.5

165 8
114 0
41.0
73.1
51 8
51 2
17
14

169 2
116.3
41.5
74.9
52 8
52 3
5.5
4.8

172 9
118 3
41.3
77.0
54 5
53 9
8.7
8.4

181.2
124.3
43.0
81.2
56 9
56.4
8.2
7.9

189 9
130.9
45.3
85.5
59.0
58.4
4.6
4.4

194.0
134.4
47.2
87.3
59.5
59.0
5.3
5.1

3.6
62 9
59.3

.8
66 3
65 5

-4.6
73 5
78 1

a
3. y
63 1
59 2

4.2
63 9
59 7

2.8
63 2
60 4

3.8
65 9
62 1

.5
67 1
66 6

1.1
69 1
68 0

-2.2
63 0
65 2

-5.5
70 3
75 8

-5.7
69 9
75.6

-3.8
74 0
77.7

-3.5
79.7

.0
89.7
89.7

1.7
95.1
93.4

219.5
96 2
74 6
123 3

234.3
98 1
71 6
136 2

255.0
104 4
74 4
150 5

217.3
95 8
74 0
121 5

220.3
94 7
73 2
125 6

223.3
94 8
72 6
128 5

227.9
96 1
72 3
131 8

231.5
96 7
71 3
134 8

235.5
98 2
70 3
137 3

242.2
101 2
72 4
141.0

250.3
106 0
76 5
144 3

254.2
106 7
76 6
147.5

254.7
102 3
71 9
152.4

260.7
102.7
72.4
158.0

268.6
105.5
74.3
163.0

275.0
106.5
74.5
168.5

049 4 r l 149 1 T 965 7
491 1
466 8
535 4
191 1
214 1
184 9
299 9
281 9
321 2
447 4
405 8
487 3
110 9
93 2
126 5

r 981 3

986 7 rl 020 2 rl 039 2 rl 059 2 rl 078 9 r\ no 8
501.1 515 2
482 1
495 2
485 9
465 9
196 2
205 5
192 8
188 1
175 0
187 4
309 7
294 7
297' 8 302 4
290 9
304 9
433 9
471 8
421 0
450 8 460 9
444 0
123 8
117 0
109 3
113 2
99 8
104 1

rl 136 9

.

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

-do
do
do
do
-do
-do
do. .
do
do
do
do

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
Durable goods
Nondurable goods

do.. .
do
do. .

' 972 6rl
466 7
182 5
284 1
410 3
95 5
'4 5
12
33

T

61
20
41

' 60
49
11

r4 9
2
46

472
186
285
413
95
r

1
2
9
5
7

60
5 2
8

r

r 5 I
1 1

6 2

' 7 0
41
29

r 7 6

4 2
34

'4 3
7
37

'5 3
— 9
6 2

531. 0
211 4
319.6
481 5
124.4

' 1 7 ' 5.5
4
32
23
13

oo 2

T

\ 157 8 '1 191 0 '1 237.8 1, 265. 8
599.9
555.4
585.0
539.9
222.8 238.1 243.2
216 8
356.7
346.9
323.1 332.5
525.4
503.9
514.8
491 8
140.4
138.1
126.2
131.7

'8.7
58
2.9

'8.2
10.4
-2.2

'4.6
4.4
.3

5.3
9.3
-4.1

GNP in constant (1958) dollars f
Gross national product, totalf

bil.$_. ' 722. 5

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

-

. . do
do
do

' 745. 4

' 790. 7 ' 722. 1 ' 727. 2 '719.3 ' 735. 1 ' 740. 4 ' 746. 9 ' 759. 0 ' 768. 0 ' 785. 6 ' 796. 7 ' 812. 3 ' 829. 3

834.6

540.5

552.7

553.8

105.8
222.2
202.9

109.2
225.8
205.4

117.0
228.8
207.0

116.6
228.1
209.0

477.5

496.3

526.8

477.5

480.9

477.5

489.5

493.6

498.0

504.1

512.5

523.4

531.0

83 8
206 5
187 2

92 2
211 6
192 4

104 0
220 9
201 8

85 8
205 1
186 5

85 6
207 2
188 1

79 3
209 8
188 4

89 3
210 1
189 9

90 2
211 8
191 7

93 6
211 5
192 9

95 8
213 0
195 3

99.2
215 0
198 2

101.9
220 7
200 8

103.4

110.3

122.9

103.5

105.4

102.1

106.6

110.3

109.5

114.8

116.5

121.0

124.8

129.1

130.2

131.0

Fixed investment
Nonresidential
Residential structures
_
Change in business inventories

do
do
do
do

99 5
77 2
22.2
3.9

105 0
76 1
29.0
53

118 3
83 7
34.6
4 6

99 1
78 3
20.8
44

100 5
78 6
21.8
49

97 6
73 5
24.1
45

100 7
74 8
25.9
58

103 8
75 5
28.3
65

105 5
75 6
29.9
4.0

110 1
78 4
31.7
4.7

115 4
81.5
34.0
1.1

116.7
82.5
34.2
4.3

118.2
83.4
34.7
6.6

122.8
87.5
35.3
6.3

126.9
91.2
35.6
3.3

127.1
91.8
35.3
3.9

Net exports of goods and services

.do

2.3

.4

-2.0

2.1

3.0

2.0

2.4

-.2

.8

-1.6

-3.7

-2.8

-.9

-.8

2.0

4.9

144.4
58.2
86.2

144.9
57.5
87.4

Gross private domestic investment, total. ..do

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

138.4
139.3
143.0
139.1
138.0
64 3
60 9
60 8
62 4
64 5
7.50
77.5
82.2
74.6
75. 5
' Revised.
*> Preliminary.
t Revised series. Estimates of national income and product and personal income have been revised back to 1969 (see p. 14 ff. of this issue of the
SURVEY); revisions prior to May 1972 for personal income appear on pp. 27-28 of this issue of
the SURVEY.




141.6
138.6
136.7
137.8
136.7
62 5
59 9
61 1
61 8
60 1
79.1
77.5
76.0
76.6
76.8
9 Includes data not shown separately.

142.7
63.0
79.7

144.0
62.9
81.1

141.8
58.8
83.0

143.5
58.6
85.0

s-1

SURVEY OF CURRENT BUSINESS

S-2
1970

Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of BUSINESS STATISTICS

1971

1971

1970

1972

Annual total

I

IV

III

July 1973

II

1972
III

I

IV

1973
III

II

IV

I

II»

III

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT-Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income total t
bil. $

r

800 5

' 859. 4

941.8

809.3

806.3

835.9

853.6

865.6

882.7

911.0

928.3

949.2

978.6

015 0

do

603.9

644.1

707.1

610.1

610.6

627.6

638.8

648.8

661.2

684.3

699.6

713.1

731.2

757.4

774.7

Wages and salaries, total
- -do
Private
do
Military
do
Government civilian
do
Supplements to wages and salaries
. do
Proprietors' income, total 9
do
Business and professional 9
do
Farm
do
Rental income of persons
do

542.0
426.9
19 6
95.5
61.9
66.9
50 0
16 9
23.9

573.8
449.7
19 4
104.7
70.3
68.7
51 9
16 8
24.5

627.3
493.3
20.3
113.8
79.7
74.2
54.0
20.2
24.1

547.1
431.0
19.4
96.7
62.9
66.2
50.2
16.0
24.2

546.7
429.2
19.0
98.5
63.9
66.2
50.0
16.2
24.4

559.8
438.5
19.8
101.6
67.7
67.9
50.9
16.9
24.4

569.3
446.3
19.3
103.6
69.6
68.3
51.7
16.6
24.7

577.6
452.3
18.9
106.3
71.1
68.6
52.3
16.3
24.7

588.6
461.7
19.6
107.3
72.6
70.2
52.7
17.5
24.4

607.3
476.4
20.9
110.0
77.0
72.5
53.1
19.5
24.1

620.8
488.4
20.1
112.3
78.9
73.2
53.3
19.9
22.6

632.5
497.5
20.0
115.1
80.5
74.1
54.3
19.8
24.9

648.7
510.9
20.1
117.7
82.5
77.1
55.3
21.8
24.9

666.7
525.1
20.9
120.7
90.8
80.6
56 3
24.3
24.7

682.2
538.6
20.5
123.1
92.5
81.5
57 1
24.4
24.6

69 2

80.1

91.1

71.3

65.9

75.8

80.5

80.9

83.4

86.2

88.0

91.5

98.8

104.3

13.6
55 6
27 8
17 3
10.5

15.2
64 9
32.5
17 8
14.7

17.5
73.6
40.1
20 0
20.2

14.0
57.3
29.1
17 8
11.4

14.2
51.7
23.7
17.5
6.3

14.0
61.8
31.8
17 6
14.2

14.7
65.8
32.7
17 8
14.9

15.9
65.0
31.8
18 0
13.8

16.3
67.1
33.6
17.9
15.7

16.6
69.6
37.3
18.6
18.7

17.3
70.7
38.7
18.5
20.2

17.6
73.9
39.9
20.4
19.5

18.6
80.2
44.7
22.4
22.3

19.8
84 5
49.7
22 8
26.9

7.8
20 1

8.6
23.9

9.3
24.2

7.9
20.2

7.3
20.7

8.2
21.8

9.1
23.9

9.1
24.1

7.9
25.7

8.5
23.8

8.9
23.1

9.8
24.1

9.9
25.7

9.2
25.6

74 0
34.8
39.3
24.7
14 6
—4.8
36.5

85 1
37.4
47.6
25.1
22.5
-4.9
42.0

98 0
42.7
55.4
26.0
29.3
-6.9
45.2

75.7
35.7
39.9
24.7
15.2
-4.4
37.5

69.8
33.0
36.7
24.5
12.2
-3.8
39.2

80 8
37.0
43.8
25.3
18.5
-5.0
40.2

85.5
38.4
47.1
25.1
22.0
-5.0
41.4

87 0
38.0
49.0
25.2
23.7
-6.1
42.7

86.9
36.4
50.6
24.9
25.7
-3.6
43.5

92.8
40.6
52.2
25.7
26.5
-6.6
43.9

94.8
41.4
53.4
25.9
27.5
-6.7
44.8

98.4
42.9
55.6
26.2
29.4
-6.9
45.7

106.1
45.9
60.3
26.4
33.9
-7.3
46.6

119 6
52.7
66.9
26.9
40.0
-15.4
47.9

—21.1
49.4

910.8 r 926. 1 ' 943. 7
142.8
140.7
138.0
785.4 800.9
772.8
755.1
739.5
720.0
45.8
45.9
52.9

976.1
147.4
828.7
774.3
54.4

f 996. 6
145.1
851.5
801.5
50.0

, 019. 1
148.8
870.4
818.0
52.4

Compensation of employees, totalf

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 INCOME f
Quarterly Data Seasonally Adjusted at Annual Rates
r

Less* Personal tax and nontax payments
do
Eouals' Disposable personal income
do
Less* Personal outlays©
do
Equals* Personal saving§
..do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
.
bil. $
Manufacturing
do
Durable goods industries 1 _
do
Nondurable goods industries ^
do
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric...
Gas and other

-

Commercial and other
Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
Durable goods industries If
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication
Commercial and other

.

808 3
116.6
691.7
635.5
56.2

' 863. 5 ' 939. 2
142.2
117.5
797.0
746.0
747.2
685.8
49.7
60.2

r

816. 8 ' 822. 9 •• 840. 0 ' 859. 5 ' 870. 2 ' 884. 4
124.0
115.7
114.3
115.5
112.6
118.1
760.4
707.2
702.4
744.0
727.4
752.0
702.6
646.6
641.7
668.3 680.6
691.8
57.8
60.6
60.8
59.2
63.5
60.2

79.71
31.95
15.80
16.15

81.21
29.99
14.15
15.84

88.44
31.35
15.64
15.72

20.26
7.99
3.87
4.12

21.66
8.66
4.26
4.40

17.68
6.69
3.11
3.58

20.60
7.55
3.52
4.03

20.14
7.31
3.40
3.91

22.79
8.44
4.12
4.32

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

21.50
7.80
3.92
3.88

47.76
1.89
1.78
3.03
1.23
13.14
10.65
2.49
10.10
16.59

51.22
2.16
1.67
1.88
1.38
15.30
12.86
2.44
10.77
18.05

57.09
2.42
1.80
2.46
1.46
17.00
14.48
2.52
11.89
20.07

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

12.99
.50
.43
.76
.33
3.74
3.12
.63
2.81
4.42

10.99
.49
.34
.34
.28
3.11
2.70
.41
2.50
3.94

13.06
.54
.47
.60
.36
3.83
3.20
.63
2.81
4.44

12.83
.55
.42
.39
.37
4.07
3.35
.71
2.62
4.42

14.35
.59
.45
.56
.37
4.29
3.60
.69
2.84
5.26

12.77
.58
.48
.50
.32
3.63
3.19
.44
2.72
4.55

14.38
.61
.48
.73
.39
4.24
3.61
.62
2.95
4.98

14.12
.59
.38
.61
.35
4.39
3.67
.72
2.84
4.97

15.83
.63
.47
.63
.40
4.74
4.01
.73
3.39
5.57

13.69
.63
.46
.52
.32
3.95
3.45
.5C
2.87
4.94

do
do
do

81.88
32.15
15.74
16.40

78.63
30.98
14.92
16.05

79.32
30.46
14.21
16.25

81.61
30.12
14.06
16.06

80.75
29.19
13.76
15.43

83.18
30.35
14.61
15.74

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

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

49.73
1.86
1.96
3.24
1.22
13.84
11.34
2.50

47.66
1.94
1.56
3.08
1.22
13.68
11.20
2.48

48.86
2.04
1.46
1.29
1.33
14.64
12.16
2.48

51.50
2.08
1.88
2.28
1 40
H.91
12.61
2.30

51.56
2.23
1.72
1.68
1.48
15.87
13.56
2.30

56.70
2.42
2.10
1.96
1.48
16.92
14.27
2.65

15.97

17.39

17. 72

17.85

20.10

56.75
2.38
1.88
2.89
1.53
16.60
14.32
2.27
11 59
19.88

56.70
2.40
1.50
2.67
1.41
17.01
14.62
2.38
11 56
20.16

58.30
2.46
1.71
2.33
1.42
17.53
14.67
2.86
12 63
20.21

96.19
35.51
17.88
17.63
60.68
2.59

17.00

52.82
2.30
1.64
2.26
1.33
15.74
13.01
2.74
in A.A.
19.10

15,97
10,70

15,80
10,45

16,48
10,87

16,78
10,79

17,28
11,52

17,58
11,65

17,463
11,53

do
do
do
do
do
do
do
do
do

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._.

62,919
41,964
1,478
11,42
8,05

-59,28
-39,788
-4,85
-5,16
-9,684

66,28
42,76
1,91
12,89
8,71

73,46
48,76
1,16
13,92
9,60

4213

34

2,85
2,06

2,863
2,06

-65,48C -78,07 -14,928 -15,09
-9,96 -10,26
-45,46 -55,68
-1,20
-4,82fl -4,724 -1,21
-4,92
-10,25

-6,0ft
-11,604

-1,284
-2,47

-1,21
-2,41

3,63
1,04
8C
-4,6C
Balance on goods and services, total
do. . .
74<
2,17
-2,69
-6,91
Merchandise, adiusted, excl. militarv
do..r
Revised.
*> Preliminary.
» Estimates (corrected for systematic biases) for Apr.June and July-Sept. 1973 based on expected capital expenditures of business. Expected
expenditures
the year 1973 appear on p. 11 of
2 Includes com forfSee corresponding note on p. S-l.the June 1973 SURVEY. valuation adjustmunication.
9 Includes inventory
ment.
© Personal outlays comprise personal consumption expenditures, interest paid by
http://fraser.stlouisfed.org/

Federal Reserve Bank of St. Louis

27.3

704
18

49

2,98
2,12

50

3,31
2,16

10 7*}

48

3,03
2,23

15,73
9,583
41

3,55
2,18

U 71

32

3,31
2,29(

-15,53 -16,650 -17,00 -16,29
-10,74 -11,708 -11,90 -11,10
-l,2tt -1,23
-1,17
-1,21

-18,96
-13,47
-1,22

1,34
-2,61

-1,42
-2,84

-1,16
-2,45

-1,13
-2,59

-1,29
-2,59

1Q QO

12,36

-18,88 -19,43
-13,31 -13,93
-1,10
-1,24
—1,47
-2,85

-2,86

15.89
.71
.50
.46
.40
5.24
4.36
.88

28.66

28.57

CO

v 22 43

n -I C OOf

j> 34

O Qf\

2,39

15.65
.68
.46
.68
.42
4.75
4.00
.74

i 98. 57 1 101. 80
37.05 38.01
19.68
19.14
18.34
17.91
63.79
61.52
2.90
2.68
2 05
1 T\
2 03
2
1 ^ft
1 61
20.18
18.68
18.38
1 f\ Q9
17 22
9 Qfi
2. 98
12.34
21.53 2 34. 25 2 35. 03

no

28

3,27
2,36

13,2.

» 24. 93 i 25. 32
9.28
9.43
4.78
4.83
4.50
4.60

p 4 10
v 9 fifi

-20,79 p-22,43
-14,95 p-16,28
-1,15 p-1,16
1 M v i 35
—3,04 _ 0 1 0(
07
nc
-1,74

—1,42
-56
-1,37
28(
13
95
-1,5
-1,77
-1,82
-38
-1,52
12<
-91
consumers, and personal transfer payments to foreigners.
§ Personal saving is excess of disposable income over personal outlays.
HData for individual durable and nondurable goods industries components appear in
Mar., June, Sept., and Dec. issues of the SURVEY.
cf More complete details appear in t
quarterly reviews in the Mar., June, Sept., and Dec. issues of the SURVEY.

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