View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

NATIONAL INCOME AND PRODUCT TABLES
1973
1972

1973

I

II

III

IV

I

1974

1973

1974
II v

1972

1973

I

II

IV

III

I

II*

Seasonally adjust*id at annual rates

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
Durable goods
Nondurable goods
Services

839 2

832 8

837 4

840 8

845 7

830 5

828 0

805.2

781 7

799 0

816 3

823 9

840 6

866 8

527 3

552 1

552 9

553 7

555.4

546.3

539.7

542.3

118.4
299 7
310 9

130 3
338 0
336 9

132 4
323 3
325 9

132 1
332 7
334 2

132 4
343 8
340 1

124 3
352 i
347 4

123 9
364 4
352 4

130 2
375 2
361 4

104 9
220 2
202 2

113 6
228 6
209 9

117 2
228 7
207 1

115 7
228 3
209 7

114.3
230 0
211.2

107.2
227 4
211.7

105.2
223 9
210.6

107.5
223 3
211.5

179 3

209 4

199 0

205 1

209 0

224 5

210 5

213 0

125 0

138 1

134 4

136 3

135 8

145 8

133 3

131.3

170.8

194.0

189.0

194 4

197 1

195 5

193 6

197 9

118 0

127 3

127 1

128.4

127.7

125.8

122.7

122.2

116 8
41 1
75 7

136 8
47 0
89 8

130 5
44 6
85 9

135 6
46 2
89 4

139 0
47 9
91 1

141 9
49 3
92 6

145 2
51 3
93 9

149 2
52 5
96 7

83 7
23 8
59 8

94 4
25 4
69 0

92 2
24 7
67 4

94 3
25 1
69 2

95 1
25 6
69 5

96.0
26 0
70 0

96.3
26 7
69 7

96.4
26 8
69 6

54 0
53 4
.6

57 2
56 7
.5

58 5
58 0
.5

58 7
58 4
4

58 1
57 6
5

53 6
53 0
6

48 4
47 8
7

48 7
48 0
g

34 3
33 9
4

32 9
32 6
3

35 0
34 7
3

34 1
33 9
.2

32 6
32 4
.3

29 8
29.5
.4

26 4
26.0
.4

25 8
25.4
.4

85
78
7

.

.. ._
-- .. .

Gross private domestic investment
Fixed investment
Nonresidential
..
Structures
Producers' durable equipment
Residential structures
Nonfarm
Farm..

.

Change in business inventories
Nonfarm
Farm
Net exports of good s and services

15 4
11 4
4 0

10 0
65
35

10 7
77
30

11 8
7 4
4 4

28 9
24 0
49

16 9
13 1
38

15 1
11 9
32

70
64
7

10 8
89
18

7 3
54
19

7 8
6 3
15

80
6 2
19

20 0
17 9
21

10.6
87
18

9.1
7 3
1.8

. .

. -_

State and local

—.8

.5

6 7

93

11 3

.2

—3 0

4 6

1.4

3.5

5.8

7.9

11.5

9.1

100.4
96 4

88 8
89 5

95 4
94 9

103 7
96 9

113 6
104 3

131 2
119 9

138 6
138 4

55 7
58 7

66 6
62 0

64.8
63 4

65.9
62 4

66.9
61 1

68.9
61 0

73.3
61 8

73.7
64.6

255.7

276.4

269 0

273 3

276 9

286 4

296 3

303 5

143 1

144 4

144 1

143.9

143.7

145.7

146.0

145.3

104 9
74 8
30 1

Government purchases of goods and services

3.9

72.4
78 4

-.

—6.0

106 6
74 4
32 2

106 4
75 0
31 4

106 2
74 0
32 2

105 3
73 3
32 0

108 4
75 3
33 1

111 5
75 8
35 7

113 9
76 1
37 8

61 0

57 3

58 9

57 7

56 2

56.4

56.3

56.1

150 8

Exports
Imports
Federal.
National defense
Other

792 5

729.0

1 158 0 1 294 9 1 248 9 1 277 9 1 308 9 1 344 0 1 358 8 1 383 5

Personal consumption expenditures

169 8

162 6

167 1

171 6

177 9

184 8

189 6

82 1

87 0

85 2

86 2

87 5

89 3

89.7

89.1

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

1, 158. 0 1, 294. 9 1, 248. 9 1, 277. 9 1 308.9 1,344 0 1 358 8 1 383.5

792.5

839.2

832.8

837.4

840.8

845.7

830.5

828.0

1,149.5 1 279.6 1, 238. 9 1 267 2 1 297 0 1 315 11 341 9 1 368 4
8.5
15.1
15.4
10.0
10.7
16.9
11.8
28.9

785 4
7.0

828.4
10.8

825.5
7.3

829.6
7.8

832.7
8.0

825.7
20.0

819.9
10.6

818.9
9.1

543 8

622 7

595 8

611 6

629 9

653 6

651 9

665 1

425 5

459 1

455 1

457 6

458 8

465.1

449.1

449.5

Final sales
Change in business inventories

535 2
8.5

607 3
15.4

585 8
10.0

600 9
10.7

618 0
11.8

624 7
28.9

635 0
16 9

650 0
15.1

418 5
7.0

448 3
10.8

447 8
7.3

449 8
7.8

450 8
8.0

445.1
20.0

438.5
10.6

440.4
9.1

Durable goods
Final sales
Change in business inventories

221 4
214 3
7.1

250 3
240 9
9.4

244 0
237 8
61

248 9
241 2
7 7

252 8
243 9
90

255 4
240 6
14 8

251 0
242 3
87

246 5
247 9
—1 4

185 8
180 1
57

206 0
198 5
7.5

204 6
199 5
5.1

206 7
200 5
6.2

206 3
199.0
7.2

206.3
194.9
11.5

200.2
194.3
5.8

195.7
196.7
-1.0

N endurable goods ..
Final sales
C hange in business inventori es

322 4
321 0
1.4

372.4
366 5
6.0

351 8
347 9
3.9

362 7
359 7
3.0

377 1
374 2
2.9

398 2
384 1
14 1

401 0
392 8
8.2

418 6
402 1
16.5

239 7
238 4
1.3

253 1
249 9
3.3

250 4
248 3
2.2

250.8
249 3
1.6

252.6
251 7
.8

258.7
250.2
8.5

248.9
244. 2
4.7

253.8
243.7
10.1

488 1

534 4

516 0

528 3

540 2

553 2

569 7

579 0

291 4

304 5

299 9

303 5

306.9

307.8

310.7

308.6

76 3

75 1

72.8

70.7

69.9

Goods output .

Services
Structures

126 1

137 8

137 1

138 0

138 8

137 2

137 1

139 5

75 6

75 5

77 8

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
1, 158 0 1 294 9 1 248 9 1,277 9 1 308 9 1 344 0 1 358 8 1 383 5

Business
Nonfarm
Farm. ... .

832.8

837.4

840.8

845.7

830.5

828.0

776 9

771 2

775 3

778 4

782.8

767.0

764.1

709 4
683 4
26 0

753 1
725.8
27 4

747 3
719.2
28 1

751.8
724.3
27.5

754.4
728.6
25.8

759.2
731.0
28.2

740.9
713.9
27.0

741.0
712.6
28.4

18.9

37 2

41 3

39 5

40 7

42 0

43 0

44 6

46 6

17 6

18.5

18.1

18.5

18.8

18.7

19.1

.. .

6.5

84

8.4

80

83

89

14 7

12 2

4 7

5.2

5.8

5.0

5.1

5.0

7.0

4.2

.

136.4

148.5

144.3

146.8

149 4

153.4

156 3

158.8

60.7

62.3

61.6

62.1

62.4

62.9

63.5

63.9

50.7
85 7

52.8
95 7

52.5
91 8

52.1
94 7

52.4
97 1

54.3
99 1

54.8
101 5

55.0
103 9

21.8
38 9

21.3
41 0

21.5
40.1

21.3
40.8

21.1
41.3

21.1
41.7

21.1
42.3

21.1
42.8

Households and institutions
Rest of the world

839 2

731 7

977 9 1 096 8 1 056 7 1 082 4 1 109 2 1 138 8 1 143 11 165 9
942 6 1*040*3 1 008 8 1 029 0 1*049*0 1*074*6 1 082 6 1 115 4
64 4
50 6
47 9
35 3
56 5
53 4
60 2
60 5

..

792 5

1 021 6 1 146 5 1 104 6 1 131 11 159 5 1 190 7 1 202 5 1 224 7

Gross national product
Private .

General government
Federal
State and local
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. BEA will provide on request a reprint of the fully revised data for the years 1964-69




July 1974

SURVEY OF CURRENT BUSINESS

13

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

1971

1970

1972

II

I

III

IV

I

Millions of dollars
Gross national product

1972

1971

1973

1973

II

IV

III

I

II

III

IV

I

II

III

IV

Billions of dollars, seasonally adjusted at annual rates

977,080 1,054,915 1,157,996 1,294,919 958.5 970.6 987.4 991.8 1,027.8 1,047.3 1,061.3 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

Personal consumption expendi617,644
tures

667, 125

729,017

805,221 604.6 614.0

623.7 628.3

650.5

662.1

672.1

683.8

701.5

720.6

736.8

757.2

781.7

799.0

816.3

823.9

91, 298
.. ... 263, 779
262, 567

103,918
278,408
284, 799

118, 443
299, 666
310,908

130,310 90.9 92.8 93.4 88.1
337, 997 257.1 261.2 265.7 271.1
336, 914 256.6 259.9 264.6 269.1

100.6
273.0
277.0

102.1
277.8
282.2

105.6
279.5
287.0

107.4
283.4
293.0

112.1
288.4
301.0

116.2
297.4
307.0

121.2
302.0
313.6

124.3
310.9
322.0

132.4
323.3
325.9

132.1
332.7
334.2

132.4
343.8
340.1

124.3
352.1
347.4

Gross private domestic invest136,275
ment
.
. .

182.1

Durable goods Nondurable goods.. .
Services

153,718

179,333

209,377 133.1 135.4

137.4

146.6

154.0

153.5

160.8

169.4

175.5

190.2

199.0

205.1

209.0

224.5

131, 747

147,406

170, 799

194, 008 131.0 130.5 133.2 132.3

138.7

145.9

149.7

155.4

164.5

167.6 . 171.9

179.2

189.0

194.4

197.1

195.5

Nonresidential .
100,568
S tructures
36, 145
Producers' durable equipment..
64,423

104, 562
37, 926

116,833
41, 121

136,770 100.0 101.0 102.8
47,014 35.6 36.1 36.4

101.4
37.0

104.3
37.8

104.8
38.5

107.8
38.4

112.7
40.7

114.7
41.0

117.5
40.6

122.5
42.2

130.5
44.6

135.6
46.2

139.0
47.9

141.9
49.3

Fixed investment

Residential structures
Nonfarm
Farm.. . ...

_ 31, 179
30,701
478

Change in business inventories ..
Nonfarm
Farm

4,528
4,306
222

Net exports of goods and services. . 3,630

139.2

98.5
36.5

66,636

75,712

89, 756

64.3

64.9

66.5

62.0

64.4

66.5

66.3

69.4

72.0

73.7

76.8

80.3

85.9

89.4

91.1

92.6

42,844
42,287
557

53,966
53, 410
556

57, 238
56, 734
504

31.1
30.5
.5

29.5
29.2
.3

30.4
29.9
.4

33.8
33.1
.6

37.3
36.8
.5

41.6
41.1
.5

44.9
44.2
.7

47.6
47.0
.6

51.8
51.2
.6

52.9
52.3
.5

54.5
53.9
.6

56.7
56.2
.5

58.5
58.0
.5

58.7
58.4
.4

58.1
57.6
.5

53.6
53.0
.6

6,312
4,918
1,394

8,534
7,799
735

15, 369
11,400
3,969

2.1
1.8
.3

4.9
4.7
.2

6.0
5.8
.2

5.1
4.9
2

7.9
6.0
1.8

8.1
6.8
1.3

3.8
2.4
14

5.4
4.4
1.0

5.0
4.1
.8

8.0
7.0
10

10.2
9.6
6

11.0
10.4
.6

10.0
6.5
3.5

10.7
7.7
3.0

11.8
7.4
4.4

28.9
24.0
4.9

-6,009

3,943

3.6

3.9

4.2

2.8

2.9

-.2

.1

62, 919
59, 289

65,449
65, 619

72, 418
78,427

100,350
96,407

61.5
57.9

63.1
59.2

63.9
59.7

63.2
60.4

65.2
62.3

66.5
66.6

68.2
68.1

62.0
65.4

69.1
76.1

68.8
75.7

Government purchases of goods
and services . .
219,531

234,242

255,655

276,378 217.2

217.3 220.3 223.3

227.9

231.3

235.7

242.1

251.1

96,182
74,588
21, 594

97,642
71, 169
26,473

104, 861
74, 751
30, 110

106,558
74,398
32,160

94.7
73.2
21.5

94.8
72.6
22.2

95.9
71.8
24.1

96.2
70.8
25.5

97.9
70.0
27.9

100.5
72.1
28.5

123, 349

136, 600

150, 794

169,820 117.8 121.5 125.6 128.5

132.0

135.1

137.8

141.6

Exports
Imports

Federal
National defense
Other

...

State and local

-170

99.5
78.5
21.0

95.8
74.0
21.8

-3.4

-7.1

-5.3

-.8

.5

6.7

9.3

73.3
78.1

78.5
83.8

88.8
89.5

95.4
94.9

103.7
96.9

113.6
104.3

253.8

255.1

262.6

269.0

273.3

276.9

286.4

105.6
75.9
29.7

105.9
75.9
30.0

102.7
72.6
30.1

105.2
74.7
30.5

106.4
75.0
31.4

106.2
74.0
32.2

105.3
73.3
32.0

108.4
75.3
33.1

145.5

147.9

152.4

157.4

162.6

167.1

171.6

177.9

IV

-6.9

-4.8

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

1970
1970

1971

1972

1973

I

II

1972

1971

III

IV

I

II

III

IV

I

II

1973

III

IV

I

II

III

Seasonally adjusted at annual rates
722.5

746.3

792.5

839.2

721.2

722.1

727.2

719.3

736.9

742.1

747.2

759.1

770.9

786.6

798.1

814.2

832.8

837.4

840.8

845.7

Personal consumption expenditures. 477.5

496.4

527.3

552.1

474.3

477.5

480.9

477.5

490.1

493.8

497.7

504.1

512.8

523.2

531.2

542.2

552.9

553.7

555.4

546.3

92.5
211.3
192.6

104.9
220.2
202.2

113.6
228.6
209.9

84.5
203.8
186.0

85.8
205.1
186.5

85.6
207.2
188.1

79.3
209.8
188.4

89.7
209.6
190.8

90.4
211.5
191.9

93.8
211.4
192.5

96.3
212.6
195.2

99.8
214.4
198.6

103.0
219.8
200.4

106.8
221.3
203.0

110.1
225.4
206.6

117.2
228.7
207.1

115.7
228.3
209.7

114.3
230.0
211.2

107.2
227.4
211.7

Gross national product

Durable goods
Nondurable goods
Services

...

83.8
206.5
187.2

111.1

125.0

138.1

102.6

103.5

105.4

102.1

107.9

111.8

109.9

114.8

119.4

123.2

126.6

130.9

134.4

136.3

135.8

145.8

99.5

105.8

118.0

127.3

100.7

99.1

100.5

97.6

101.4

105.0

106.5

110. 2

115.2

116.6

118.1

122.0

127.1

128.4

127.7

125.8

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

77.2
23.7

76.7
23.2

83.7
23.8

94.4
25.4

78.5
24.1

78.3
23.9

78.6
23.6

73.5
23.1

75.5
23.3

76.6
23.3

76.2
23.2

78.6
23.0

81.3
23.9

82.4
24.0

83.8
23.5

87.2
23.9

92.2
24.7

94.3
25.1

95.1
25.6

96.0
26.0

53.5

53.5

59.8

69.0

54.4

54.3

55.1

50.4

52.2

53.3

53.0

55.6

57.4

58.4

60.3

63.3

67.4

69.2

69.5

70.0

Residential structures
Nonfarm
Farm

22.2
21.9
.4

29.1
28.7
.4

34.3
33.9
.4

32.9
32.6
.3

22.2
21.8
.4

20.8
20.6
.2

21.8
21.5
.3

24.1
23.6
.5

25.9
25.6
.3

28.3
28.0
.3

30.3
29.8
.5

31.6
31.2
.4

33.8
33.4
.4

34.2
33.8
.3

34.3
33.9
.4

34.8
34.5
.3

35.0
34.7
.3

34.1
33.9
.2

32.6
32.4
.3

29.8
29.5
.4

3.9
3.7
.1

5.3
4.1
1.2

7.0
6.4
.7

10.8
8.9
1.8

1.9
1.6
.2

4.4
4.3
.1

4.9
4.8
.1

4.5
4.4
.1

6.5
5.0
1.5

6.8
5.7
1.1

3.4
2.2
1.2

4.6
3.7
.9

4.2
3.4
.8

6.6
5.8
.8

8.5
8.0
.5

8.8
8.4
.5

7.3
5.4
1.9

7.8
6.3
1.5

8.0
6.2
1.9

20.0
17.9
2.1

Gross private domestic investment . 103.4
Fixed investment .

Change in business inventories. ..
Nonfarm
.. ...
Farm
Net exports of goods and services. . .
Exports
Imports
Government purchases of goods
and services
Federal
State and local




2.3

-.5

4.6

2.0

2.1

3.0

2.0

1.5

-.9

-.1

1.4

3.5

5.8

7.9

52.2
50.0

52.2
52.6

55.7
58.7

66.6
62.0

52.0
50.0

52.5
50.5

52.4
49.5

51.9
49.9

52.1
50.6

53.0
53.9

54.3
54.4

49.2
51.6

54.3
59.2

53.3
56.9

56.2
57.6

59.0
60.9

64.8
63.4

65.9
62.4

66.9
61.1

68.9
61.0

139.3

139.3

143.1

144.4

142.3

139.1

138.0

137.8

137.5

137.5

139.7

142.6

143.8

143.8

141.8

143.0

144.1

143.9

143.7

145.7

64.3
75.0

60.9
78.4

61.0
82.1

57.3
87.0

68.8
73.7

64.5
74.6

62.4
75.5

61.8
76.0

60.2
77.3

59.7
77.8

61.3
78.4

62.4
80.2

62.9
80.9

62.5
81.3

59.5
82.4

59.2
83.8

58.9
85.2

57.7
86.2

56.2
87.5

56.4
89.3

-3.0

-2.4

-4.9

-3.6

-1.4

-1.9

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

1972

1971

1973

II

III | IV

I

II

1973

| III

IV

I

II

1974

III

IV

I

j

II »

Annual total
Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
Gross national product totalf

-

bil. $

r

l,054 9

'1,158.0 '1,294.9

r

l, 047.3 '1,061.3 '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. 5

Personal consumption expenditures, total.. do

667.1

729.0

805.2

662.1

672.1

683.8

701.5

720.6

736.8

757.2

781.7

799.0

816.3

823.9

840.6

866.8

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

102 1
45.5
41.7

105 6
48.2
42.1

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

130.2
50.9
59.6

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

do
do
do
do

278 4
57.3
135.9
23.5

299 7
63.0
143.7
25.0

338 0
70.2
165.1
28.3

277 8
57.2
135.6
23 2

279 5
57.6
136.9
23.6

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
25.8

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

375.2
74.3
182.6
37.0

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

282.2
39.1
98.0
20.2

287.0
39.6
100.0
20.7

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

361.4
51.2
124.9
25.5

-

Services, total9
Household operation
Housing
Transportation

153.7

179.3

209.4

154.0

153.5

160.8

169.4

175.5

182.1

190.2

199.0

205.1

209.0

224.5

210.5

213. 0

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

145.9
104.3
37.8
66.5
41.6
41.1
8.1
6.8

149.7
104.8
38.5
66.3
44.9
44.2
3.8
2.4

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

197.9
149.2
52.5
96.7
48.7
48.0
15.1
11.9

do
do

-.2
65.4
65.6

-6.0
72.4
78.4

3.9
100.4
96.4

-.2
66.5
66.6

.1
68.2
68.1

-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

.2
138.6
138.4

234.2
97.6
71.2
136.6

255.7
104.9
74.8
150.8

276.4
106.6
74.4
169.8

231.3
96.2
70.8
135.1

235.7
97.9
70.0
137.8

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

303.5
113.9
76.1
189.6

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

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

'1,048.6
491.6
191.8
299.8
446.0
111.0

•1,149.5 '1,279.6 '1,039.1 '1,057.5 '1,077.8 '1,110.0 '1,135.1 '1,159.1 '1,193.7 '1,238.9 '1,267.2 '1,297.0 '1,315.1 '1,341.9 1, 368. 4
650.0
635.0
618.0
624.7
585.8
600.9
556.2
535. 2
501.8
495.7
514.3 529.4
541.0
607.3
486.8
247.9
242.3
243.9
240.6
241.2
210.6
237.8
197.0
218.3 223.6
193.3
204.6
214.3 240.9
186.1
402.1
374.2 . 384. 1 392.8
347.9
318.9
359.7
304.7
332.6
302.4
322.7
309.7
321.0
366.5
297.7
579.0
569.7
540.2
553.2
516.0
506.5
528.3
459.3
492.4
448.5
472.1 481.5
488.1 534.4
442.8
139.5
137.1
137.2
138.8
137.1
130.9
138.0
124.1
116.8
125.6
123.6
126.1
113.3
109.6
137.8

'6.3
2.4
4.0

do
do
do

"8.5
7.1
1.4

'15.4
9.4
6.0

'8.1
4.6
3.5

'3.8
.7
3.1

'16.9
8.7
8.2

15.1
-1.4
16.5

828.0

504.1

r 7gg 6 ' 798 1 ' 814 2 '832 8 '837.4 ' 840.8 ' 845. 7 '830.5
539.7
546.3
555.4
553.7
552.9
542.2
531.2
523.2
512.8
103 0
219 8
200 4

106 8
221 3
203 0

123.2

126.6

'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

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

bil. $.„

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

..

do - do
do

Gross private domestic investment, total.. .do
Fixed investment
Nonresidential
Residential structures
..
Change in business inventories
Net exports of goods and services

do
do .
do
do
do

r

746 3
496.4

92 5
211 3
192 6

111.1

r

792 5 r 339 2 r 742 1 ' 747 2 r 759 i r 770 9

552.1

493.8

104 9
220 2
202 2

113 6
228 6
209 9

90 4
211 5
191 9

93 8
211 4
192 5

96 3
212 6
195 2

99 g
214 4
198 6

125.0

138.1

111.8

109.9

114.8

119.4

527.3

497.7

105.8
76 7
29 1
5.3

118 0
83 7
34 3
7.0

127 3
94 4
32 9
10.8

105.0
76 6
28 3
6.8

106 5
76 2
30 3
3.4

-.5

-3.0

4.6

-.9

-.1

137.5
139.7
139.3
143.1 144.4
61 3
60 9
61 0
57 3
59 7
78.4
82.1
78 4
87.0
77.8
r
Revised.
» Preliminary,
t Revised series. Estimates of national income and product
and personal income have been revised back to 1971 (see p. 11 ff. of this issue of the SURVEY);
Govt. purchases of goods and services, total -do
Federal
do
State and local
do

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

110 1
225.4
206.6

115.7
228.3
209.7

114.3
230.0
211.2

107.2
227.4
211.7

105.2
223.9
210.6

107.5
223.3
211.5

130.9

134.4

136.3

135.8

145.8

133.3

131.3

127.1
92.2
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

122.2
96.4
25.8
9.1

122.0
87.2
34.8
8.8

9.1
11.5
7.9
5.8
3.5
1.4
-1.9
-3.6
-1.4
-4.9
-2.4
145.3
146.0
145.7
143.7
144.1 143.9
143.0
141.8
143.8
143.8
142.6
56.1
56.3
56.4
56.2
57.7
59.2
58.9
62.5
59.5
62.4
62.9
89.1
89.7
87.5
89.3
86.2
85.2
82.4
83.8
81.3
80.9
80.2
revisions prior to May 1973 for personal income appear on pp. 22-23 of this issue of the SURVEY .
9 Includes data not shown separately.

s-1
553-152 O - 74 - S-1




542.3

117 2
228.7
207.1

SURVEY OF CURRENT 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 | 1973

1971

III

Annual total

July 1974

1972

I

IV

II

1973

III

IV

I

II

1974

IV

III

I

II

163.61
155.8

167.09
159.8

155. 4 157.8
147. 9 150.7
179. 7
183.8
196. 5 202.9

161.9
154.7
188.5
208.9

III

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Kates
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
National income totalf

foil.

$-

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

do

141.35
134.4

146. 12 '154.31
138.2 ' 145. 9

' 139. 3 144.8 r 152. 4
' 136. 3 ' 139. 6 r
'144.9

' 147. 4

' 168. 1

157.4
178.6

' 857. 7 946.5

643.1

707.1

142.03 142. 70 144. 62 145. 31 146. 50 147. 96 149. 95 152. 61 155. 67 158.93
135.0 ' 135. 6 ' 136. 8 ' 137. 7 ' 138. 7 ' 139. 7 ' 141. 4 ' 144. 3 ' 147. 0 '150.8
'
'
'
'

146. 9
140. 5
162. 8
183. 6

148.7
' 141. 7
167.1
186.7

' 142. 8 ' 143. 8
' 138. 5 '139.3
'153.2 ' 154. 6
' 174. 6 ' 176. 5

862.7

881.6

' 912. 3 ' 932. 5 ' 954. 3 ' 987. 0 1,027.6

647.8

659.7

140. 5
137.4
148.2
168.7

'1,065.6
786.0

' 145. 6
' 140. 2
'158.9
' 179. 9

140. 9
137. 1
150. 4
169. 8

174. 0
' 191. 5

'
'
'
'

'
'
'
'

151. 4
143. 9
172. 1
189. 9

'154.3
'146.1
' 178. 1
192.6

'
'
'
'

1,051.2 1,077.3 1,106.3 1,118.8

683.8

699.0

712.6

732.9

759.1

776.7

793.3

814.8

828.8

848.0

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

744.3
588.1
20.9
135.4
103.7
89.6
60.5
29.1
26.1

_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

577.5
452.2
18.9
106.3
70.3

587.8
461.0
19.6
107.3
71.9

606.6
475.1
20.9
110.6
77.1

do
do
_ do
do

69.2
52.0
17.2
25.2

75.9
54.9
21.0
25.9

96.1
57.6
38.5
26.1

67.9
52.4
15.5
25.4

71.0
52.8
18.2
25.4

72.9
53.7
19.2
25.5

74.6
54.3
20.3
24.4

75.8
55.5
20.3
26.8

80.1
56.1
24.0
26.7

89.1
57.0
32.1
26.3

92.8
57.1
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

Corporate profits and inventory valuation adjustment total
foil
$
By broad industry groups:
Financial institutions
... _do ._
Nonfinancial corporations total
do
Manufacturing total
do
Nondurable goods industries
do
Durable goods industries
do

78.7

92.2

105.1

79.4

82.4

86.5

89.5

92.9

99.8

103.9

105.0

105.2

106.4

107.7

15.6
63.1
32.3
17.8
14.5

17.6
74.5
40.8
19.0
21.8

19.6
85.5
47.6
21.5
26.1

15.9
63.5
32.3
18.1
14.2

16.6
65.8
33.3
17.6
15.8

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

Transportation, communication, and public
utilities
bil. $
All other industries
do.

8.3
22.5

9.2
24.6

9.2
28.7

8.7
22.4

7.6
24.9

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

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

85.7
38.2
47.5
25.0
22.4

86.7
36.9
49.7
25.1
24.7

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

138.7
53.6
85.1
31.6
53.5

do
do._

—4.9
41.6

-7.0
45.6

—17.6
52.3

-6.3
42.3

-4.2
43.0

-5.8
43.6

-6.5
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

-31.0
57.5

'869.6
' 118. 3
' 751. 3
' 691. 0
'60.3

'885.8
124.0
' 761. 8
'703.2
'58.6

913. 3
138. 6
774. 7
721. 4
'53.3

'930.9
' 140. 9
' 790. 0
' 741. 1
'49.0

1,013.6
' 144. 1
' 869. 5
'804.2
'65.3

1,039.2 '1,068.0 '1,099.3
' 147. 2 '154.2 ' 159. 9
' 892. 1 ' 913. 9 ' 939. 4
' 822. 5 ' 840. 7 '850.1
'69.6 '73.2 '89.3

Corporate profits before tax, total
Corporate profits tax liability
Corporate profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment
Net interest
-

32.5
-37.3
59.8

DISPOSITION OF PERSONAL INCOME f
Quarterly Data Seasonally Adjusted at Annual Rates
'
'
'
'

'
'
'
'

950. 3 ' 985. 0
143. 1 ' 147. 0
807. 2 ' 838. 1
757. 9 ' 779. 2
'49.3 '58.9

'1,112.5 1, 133. 8
' 161. 9 167.9
965.9
'950.6
892.6
' 866. 2
73.3
'84.4

bil $
do
do
do
do -

' 864.0
' 117. 5
' 746. 4
' 685. 9
'60.5

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

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

21.60
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

61.73

14.38

15.57

Personal income total 7
Less; Personal tax and nontax payments
Eouals* Disposable personal income
Less* Personal outlays©
Eouals* Personal savings

'1,055.0
'151.3
r 802. 5 '903.7
r 749. 9 ' 829. 4
'52.6
'74.4
r 944. 9

' 142. 4

NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
Manufacturing
.
Durable goods industries 1 .
Nondurable goods industries 5

127.96 128.05
11.36
11.25
5.69
5.62
5.67
5.64

do

61.22

57.09

12.83

14.35

12.77

14.12

15.83

13.69

15.42

17.05

14.61

16.70

16.69

Mining
Railroad
Air transportation
Other transportation

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

.55
.42
.39
.37

.69
.45
.56
.37

.58
.48
.50
.32

.61
.48
.73
.39

.59
.38
.61
.35

.63
.47
.63
.40

.63
.46
.52
.32

.71
.46
.72
.43

.69
.48
.57
.44

.71
.56
.60
.47

.68
.50
.47
.34

.76
.65
.63
.52

.75
.64
.50
.57

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

4.07
3.35
.71
2.62
4.42

4.29
3.60
.69
2.84
5.26

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
6.57

3.95
3.45
.50
2.87
4.94

4.59
3.91
.68
3.27
5.40

4.82
4.04
.77
3.19
5.24

5.36
4.54
.82
3.53
5.83

4.38
3.85
.52
3.19
5.05

5.25
4.44
.81

5.57
4.60
.97

38.90

28.65

do
do

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

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

do

51.56

52.82

56.70

56.75

56.70

58.30

60.68

61.18

62.09

63.12

64.31

65.36

67.15

2.23
1.72
1.68
1.48

2.30
1.64
2.26
1.33

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

2.59
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

2.97
2.48
2.26
1.93

3.06
2.70
2.16
2.17

Nonmanufacturing

Seas. adj. qtrly. totals at annual rates:
All industries
Durable goods industries 1
Nondurable goods industries ^
Nonmanufacturing
Mining
Railroad

do

do
do

Other transportation
do
15.74
15.87
Public utilities
do
13.01
13.56
Electric
do
2.74
2.30
Gas and other
do...
10.44
10.73
Communication
do.._
19.10
17.85
Commercial and other
do...
' Revised.
f Preliminary.
1 Estimates (corrected for systematic biases) for Apr.June and July-Sept. 1974 based on expected capital expenditures of business. Expected
2
expenditures for the year 1974 appear on p. 19 of the June 1974 SURVEY.
Includes
communication.
t See corresponding note on p. S-l.
9 Includes inventory valuation




1110.58 1113.16
46.00
45.22
23.25
22.60
22.76
22.61

20.73 21.53
20.12
19.80
18.38
18.58
16.92
16.60
17.01
18.08
17.53
18.20
17.62
17.12
16.72
14.32
14.62
15.40
15.55
16.00
14.67
14.27
3.32
3.00
3.11
3.08
2.52
2.27
2.98
2.58
2.38
2.86
2.65
13.24
13.83
12.34
13.12
11.59
12.70
12.63
11.56
11.71
21.69 235.00 235.54
21.35
19.88
21.55
21.36
20.21
20.10
21.53
20.16
adjustment.
8 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.
IfData for individual durable and nondurable goods industries components appear 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