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SURVEY OF CURRENT BUSINESS

July 1975

11

NATIONAL INCOME AND PRODUCT TABLES
1974
1973

1974

I

II

1975
III

IV

1974
HP

I

1973

1974

I

II

Seasonally adjusted at annual rates

1975

III

IV

I

HP

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, 397. 4 1, 358. 8 1, 383. 8 1 416.3 1, 430. 9 1,416.6 1, 433. 4

839.2

821.2

Gross private domestic investment

. . ..

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

.

Change in business inventories
Nonfarm
Farm

804.0

780 0

779.4

869 1

901 3

895.8

913 2

938.1

552 1

539 5

539 7

542 7

547 2

528 2

531 5

539 6

127.5
380.2
369.0

123.9
364.4
352.4

129.5
375.8
363.8

136.1
389.0
376.2

120.7
391.7
383.5

124.9
398.8
389.5

130.0
408.5
399.6

113.6
228.6
209.9

103.1
223.7
212.6

105.2
223 9
210.6

106.8
223 6
212 2

107.8
225 8
213.7

92.8
221.4
214.1

95.2
222.5
213.7

97.5
225.9
216.2

209.4

209.4

210.5

211.8

205.8

209.4

163.1

147.3

138.1

126.7

133.3

130 3

122.7

120.5

89.3

79.6

195.2

193.6

198 3

197.1

191.6

182.2

181.0

127.3

118.0

122 7

122 2

117.7

109.6

101.0

98.4

136.8
47.0
89.8
57.2
56.7
.5

149.2
52.0
97.1
46.0
45.2
.7

145.2
51.3
93 9
48.4
47.8
.7

149 4
52.2
97 2
48.8
48.0
8

150.9
51.0
99.9
46.2
45.4
.8

151.2
53.7
97.5
40.4
39.7
.7

146.9
52.8
94.2
35.3
34.8
.5

144.6
50.2
94.4
36.4
35.7
.8

94 4
25.4
69 0
32.9
32.6
.3

94.0
26.2
67.8
24.0
23.6
.4

96 3
26.7
69 7
26.4
26.0
.4

96 5
26.6
69 9
25 7
25.3
4

94.1
25.4
68 7
23.6
23.1
.4

89.2
26.1
63.1
20.4
20.1
.4

83.8
25.2
58.6
17.3
17.0
.2

81.0
23.7
57 2
17.4
17.1
.4

15.4
11.4
4.0

--

823 1

840.6

194.0

Durable goods
Nondurable goods
Services

827 1

876.7

130.3
338.0
336.9

Personal consumption expenditures

830 5

805.2

Gross national product

14.2
11.9
2.3

16.9
13.1
3.8

13 5
10.4
3.1

8.7
6.6
2.1

17.8
17.5
.3

—19.2
-17.8
-1.4

-33.7
-33.4
-.3

10.8
8.9
1.8

8.7
7.4
1.2

10 6
8.7
1.8

82
6 4
1.8

5.0
3.9
1.1

10.9
10.7
.2

—11.7
—10.9
—.8

—18 8
—18.6
-.2

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

2.1

11.3

-1.5

-3.1

1.9

8.8

9.2

4.6

9.0

11.5

8.2

7.3

9.1

11.6

10.9

131.2
119.9

138.5
140.0

143.6
146.7

147.5
145.7

142.2
133.4

130.9
121.7

66.6
62.0

71.9
62.9

73.3
61.8

73.4
65.1

70.9
63.6

69.9
60.9

66.5
54.9

61.7
50.7

276.4

..

140.2
138.1

309.2

296.3

304.4

312.3

323.8

331.6

338.8

144.4

146.0

146.0

145.8

145.9

146.3

147.7

149.3

106.6
74.4
32.2
169.8

.

Exports
Imports _

3.9

100.4
96.4

Net exports of goods and services..

116.9
78.7
38.2
192.3

111.5
75.8
35 7
184.8

114 3
76.6
37 7
190 1

117.2
78.4
38.8
195.1

124.5
84.0
40.6
199.3

126.5
84.7
41 8
205.1

128.6
85.4
43.2
210.2

57.3

56.5

56.3

56.3

56.5

57.0

57.4

58.5

87.0

89.5

89.7

89.5

89.4

89.3

90.2

90.9

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
839 2

821.2

830.5

827.1

823.1

804.0

780.0

779.4

1 279.6 1 383 2 1 341 9 1 370 3 1 407 6 1 413 1 1 435 8 1 467 1 828 4
14.2
15.4
8.7
16.9
17.8 —19.2 -33.7
10.8
13 5

812.5
8.7

819 9
10.6

818 9
8.2

818.1
5.0

793.1
10.9

791.8
-11.7

798.2
-18.8

1,294.9 1, 397. 4 1,358 8 1 383 8 1,416.3 1, 430. 9 1 416.6 1,433.4

Gross national product
Final sales
Change in business inventories.

622.7

670.3

651.9

664 9

681.7

682.6

667 0

671.3

459.1

442.8

449.1

448 9

446.0

427.1

408.3

406.7

Final sales
Change in business inventories

607.3
15.4

656.1
14.2

635 0
16.9

651 3
13 5

673 0
8.7

664.8
17.8

686 1
—19.2

705.0
-33.7

448.3
10.8

434.1
8.7

438.5
10.6

440 8
8.2

441.0
5.0

416.3
10.9

420.1
-11.7

425.5
-18.8

Durable goods
Final sales
Change in business inventories

250.3
240 9
9.4

256.9
249.2
7.7

251.0
242 3
87

246.6
248 5
—1 8

265.5
259 8
5.7

264.5
246.2
18.3

239 5
252 9
—13 4

246.2
259 4
—13 2

206.0
198 5
7.5

195.9
191.0
4.9

200.2
194 3
5.8

195.4
196 6
—1.2

200.2
196.6
3.6

188.0
176.7
11.3

167.5
176 1
-8.6

169.5
176.9
-7.3

Nondurable goods
Final sales
Change in business inventories

372.4
366 5
6.0

413.4
406.9
6.5

401 0
392 g
82

418 2
402 9
15 4

416.2
413 2
3.0

418.1
418.6
—.5

427 5
433 2
—5 7

425 0
445 6
—20 5

253 1
249 9
33

246.9
243.1
3.8

248.9
244 2
4 7

253 6
244 2
94

245.8
244 4
1.4

239.2
239.6
-.4

240.8
244 0
—3.2

237.2
248.6
—11.4

Services.

534 4

590.3

569 7

579 2

597 8

614 5

620 9

635 6

304 5

310.9

310 7

308 3

310.7

313.7

312 2

315.1

Structures

137 8

136 8

137 1

139 7

136 7

133 9

128 8

126 5

75 5

67 5

70 7

69 8

66.4

63.2

59 5

57.6

779.4

Goods output

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product..
Gross domestic product
Business
Nonfarm.
Farm
Households and institutions.
General governmentFederal
State and local
Rest of the world
Addendum: Gross private product.

1,294.9 1,397.4 1,358.8

383.8

416.6 1,433.4

839.2

821.2

830.5

827.1

823.1

804.0

780.0

1,286.5 1,385.6 1,344.0

374.1 1,405.2

,418.9

409.4 1,426.8

833.9

816.9

823.5

824.1

819.8

800.0

777.7

777.3

1,096.8 1,177.8 1,143.1
1,040.3 1,124.1 1,082. 6
56.5
60.5
53.8

168.8 1,195.7
117.8 1,144. 4
51.3
51.1

,203.6
,151.5
52.1

189.2 1,201.9
142. 9 1,154.0
47.9
46.3

753.1
725.8
27.4

733.8
706.3
27.5

740.9
713.9
27.0

741.4
712.7
28.7

736.6
708.0
28.6

716.5
690.8
25.7

693.5
666.0
27.5

692.6
666.2
26.4

1,416.31,430.9

41.3

47.0

44.6

46.5

48.0

48.8

50.0

51.2

18.5

18.9

19.1

18.8

18.9

18.8

18.9

19.1

148.5
52.8
95.7

160.8
55.7
105.1

156.3
54.8
101.5

158.8
55.0
103.9

161.6
55.3
106.3

166.5
57.9
108.7

170.2
58.1
112.2

173.7
58.2
115.6

62.3
21.3
41.0

64.1
21.1
43.0

63.5
21.1
42.3

63.9
21.1
42.8

64.2
21.0
43.2

64.8
21.0
43.7

65.2
21.0
44.3

65.5
20.9
44.7

8.4

11.9

14.7

9.7

11.1

12.0

7.2

6.6

5.2

4.3

7.0

3.0

3.3

4.0

2.3

2.1

,225.0 1,254.7

,264.4

,246.4 1,259.7

776.9

757.1

767.0

763.2

758.8

739.2

714.8

713.9

i, 146.5 1,236.6 1,202.5

Preliminary.

POSTPONEMENT OF JULY REVISION OF GNP
A benchmark revision of the national income and product accounts that will incorporate the 1963 and 1967 economic
censuses and information from other sources is in preparation. All entries in the accounts will be revised back to 1958 and
some will be revised for earlier years. The current schedule calls for completing the benchmark revision in October oj this year.
The revision of 1972 to 1975 that would customarily be published this July will be postponed and combined with the
benchmark revision.



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.
1972

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

1973

1974

1972
II

III

IV

Annual total

I

II

1975

1974

1973
III

IV

I

II

III

IV

I

)

I!*-

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
1,158.0

1,294.9

1, 397. 4

1,143.0

1,169.3

1,204.7

1,248.9

1,277.9

1,308.9

1,344.0

729.0

805.2

876.7

720.6

736.8

757.2

781.7

799.0

816.3

823.9

118.4
53.1
48.7

130.3
57.5
55.0

127.5
49.7
58.8

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

299.7
63.0
143.7
25.0

338.0
70.2
165.1
28.3

380.2
74.1
187.7
35.9

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

310.9
43.3
107.9
21.8

336.9
47.3
116.4
23.4

369.0
52.9
126. 4
26.1

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

179.3

209.4

209.4

175.5

182.1

190.2

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

195.2
149.2
52.0
97.1
46.0
45.2
14.2
11.9

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

do...
do
.. do

-6.0
72.4
78.4

3.9
100.4
96.4

2.1
140.2
138.1

-6.9
68.8
75.7

-4.8
73.3
78.1

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

255.7
104.9
74.8
150.8

276.4
106.6
74.4
169.8

309.2
116.9
78.7
192.3

253.8
105.9
75.9
147.9

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, 383. 2
656.1
249.2
406.9
590.3
136.8

8.5
7.1
1.4

15.4
9.4
6.0

792.5

839.2

Gross national product, total f

bil.$

Personal consumption expenditures, total., do
Durable goods, total?
Automobiles and parts
Furniture and household equipment
Nondurable goods total 9
Clothing and shoes
__
Food and beverages
Gasoline and oil
_

_

.do .
do
do
do
..do
do
do

Services, total?
Household operation
Housing
Transportation

do
do
do
do .

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

By major type of product:!
Final sales total
Goods total
Durable goods
Nondurable goods
Services
Structures
.

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

do
do
do
do
do...
do

Change in business inventories
Durable goods
Nondurable goods

do
do
do _

1,430.9 1,416.6 1, 433. 4

1,358.8 1,383.8

1,416.3

840.6

869.1

901.3

895.8

913.2

938. 1

124.3
51.2
55.4

123.9
48.0
57.5

129.5
50.6
59.5

136.1
56.2
60.4

120.7
43.7
57.8

124.9
46.8
57.9

130.0
49.0
60.6

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

391.7
73.7
196.0
37.5

398.8
76.2
201.4
37.8

408.5
78.6
203.6
39.2

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

383.5
56.0
130.9
2/ . 1

389.5
57.0
134.1
28.1

399. 6
59.8
136. 5
28.8

199.0

205.1

209.0

224.5

210.5

211.8

205.8

209.4

163.1

147.3

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

191.6
151. 2
53.7
97.5
40.4
39.7
17.8
17.5

182.2
146.9
52.8
94.2
35.3
34.8
-19.2
17.8

181. 0
144. 6
50.2
94. 4
36.4
35.7
33.7
33.4

-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

1.9
147.5
145.7

8.8
142.2
133.4

9.2
130. 9
121.7

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

323.8
124. 5
84.0
199. 3

331.6
126.5
84.7
205.1

338.8
128.6
85.4
210.2

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

1,297.0 1,315.1 1,341.9 1,370.3
651.3
635.0
618.0 624.7
248.5
242.3
243.9
240.6
402.9
384.1 392.8
374.2
579.2
569.7
553.2
540.2
137.2
137.1
139.7
138.8

1,407.6
673.0
259.8
413.2
597.8
136.7

14.2
7.7
6.5

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

17.8
18.3
c

-19.2
-13.4
-5.7

-33.7
-13. 2
—20. 5

821,2

786.6

798.1

814.2

832.8

837.4

840.8

845.7

830.5

827. 1

823.1

804.0

780.0

779.4

528.2

531.5

539. 6

1,238.9 1,267.2
585.8
600.9
237. 8 241.2
347.9
359.7
516.0 528.3
137.1 138.0

1,413.1 1,435. 8 1,467.1
705.0
686.1
664. 8
259. 4
246.2
252.9
445. 6
433.2
418.6
635. 6
614.5
620. 9
126.5
128.8
133. 9

GNP in constant (1958) dollarsf
Gross national product, totalf

bil.$.

527.3

552.1

539.5

523.2

531.2

542.2

552.9

553.7

555.4

546.3

539.7

542.7

547.2

do
do
do

104.9
220.2
202.2

113.6
228.6
209.9

103.1
223.7
212.6

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

105. 2
223.9
210.6

106.8
223.6
212.2

107.8
225.8
213.7

92.8
221.4
214.1

95.2
222. 5
213.7

97. 5
225. 9
216.2

Gross private domestic investment, total. ..do

125.0

138.1

126.7

123.2

126.6

130.9

134.4

136. 3

135.8

145.8

133.3

130.3

122.7

120.5

89.3

79.6

do
do
do
do..

118.0
83.7
34.3
7.0

127.3
94.4
32.9
10.8

118.0
94.0
24.0
8.7

116.6
82.4
34.2
6.6

118.1
83.8
34.3
8.5

122.0
87.2
34.8
8.8

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
96.5
25.7
8.2

117.7
94.1
23.6
5.0

109.6
89.2
20.4
10.9

101.0
83.8
17.3
-11.7

98.4
81.0
17.4
-18.8

do

-3.0

4.6

9.0

-3.6

-1.4

-1.9

1.4

3.5

5.8

7.9

11.5

8.2

7.3

9.1

11.6

10.9

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

.

Fixed investment
Nonresidential
Residential structures
Change in business inventories
Net exports of goods and services

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

143.1
61.0
82.1

144.4
141.8
146.0
143.8
62.5
59.5
57.3
56.5
82.4
87.0
81.3
89.5
Re
••Revised.
v Preliminary.
f vised series. I ,stimates Df nation al income, and prod UCt
and personal income have been revised back tc 1971 (see p. 1 1 ff. of tlle July 19 74 SURVlSY);
revisions prior to May 1973 for personal income appe ar on pp. 22-23 of the July 1 J74 SUR\ EY.




144.1
143.0
59.2
58.9
85.2
83.8
Revi sed data
in Ju ly issues
1975 SURVEY.

149. 3
147.7
146.3
145.9
145.8
145.7
146.0
143.7
143.9
58.5
57.4
57.0
56.5
56.4
56.3
56.3
56.2
57.7
90.9
90.2
89.3
89.4
89.5
89.3
87.5
89.7
86.2
for nati onal inco me and product and pers onal inco ne custo narily p ublished
of the S URVEY \V ill be po stponed until late r; see box note on p. 11 of t ho July
9 Iricludes d ata not s tiown se Darately.

S-l

SURVEY OF CURRENT BUSINESS

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

1972

| 1973

III

Annual total

1973

1972

1974

July 1975

IV

I

II

1974
III

IV

I

1»75
III

II

IV

I

UP

III

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
Implicit price deflators :f
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

146. 12
138.2

154. 31
145.9

170. 18
162.5

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

177.97
169.6

181.62
171.8

183. 90
173.9

144.8
139.6
157.4
178.6

152.4
144.9
174.0
191.5

165.3
158.7
191.4
211.8

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

174.9
169.6
197.9
221.4

180.4
175.4
204.3
224.6

183.9
178.6
208.8
226.9

bil. $

946.5

1,065.6

1,142.5

954.3

987.0

1,027.6

1,051.2 1,077.3 1,106.3

1,118.8

do

707.1

786.0

855.8

712.6

732.9

759.1

776.7

793.3

814.8

828.8

848.3

868.2

877.7

875.6

885.5

do ..
do
do
do
do

626.8
491.4
20.5
114.8
80.3

691.6
545.1
20.6
126.0
94.4

750.7
592.4
21.2
137.1
105.1

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

769.2
605. 1
22.0
142.1
108.6

765.1
597.4
22.0
145.7
110.5

773.1
602.0
21.9
149. 2
112.4

75.9
54.9
21.0
25.9

96.1
57.6
38.5
26.1

93.0
61.2
31.8
26.5

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

89.9
60.7
29.1
26.3

92.1
62.3
29.8
26.6

91.6
62.5
29.1
26.8

84.9
62.7
22.2
27.0

86.0
63.3
22.7
27.1

92 2

105.1

105.6

92.9

99.8

103.9

105.0

105.2

106.4

107.7

105.6

105.8

103.4

94.3

17.6
74.5
40.8
19.0
21.8

19.6
85.5
47.6
21.5
26.1

20.8
84.9
47.0
30.0
17.0

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

20.9
82.5
46.3
30.1
16.2

20.7
73.6
41.1
27.3
13.8

9.2
24.6

9.2
28.7

7.8
30.1

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

7.5
28.7

6.8
25.7

do
do
do
do
do

99.2
41.5
57.7
27.3
30.3

122.7
49.8
72.9
29.6
43.3

140.7
55.7
85.0
32.7
52.4

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

131.5
52.0
79.5
33.3
46.2

101.2
39.0
62.3
33.8
28.5

do _.
do

-7.0
45.6

-17.6
52.3

-35. 1
61.6

-7.3
46.2

-8.4
47.5

-16.5
49.2

-20.0
61.1

-17.5
53.2

-16.3
55.5

-27.7
57.5

-33.4
60.1

-51.2
62.8

-28.1
65.9

-7.0
68.9

bil. $.
do
do
do
do

944.9
142.4
802.5
749.9
52.6

1,055.0 1,150.5
170.8
151.3
979.7
903.7
829.4
902.7
77.0
74.4

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
147.2
168.2
147.0
154.2
144.1
159.9
161.9
892.1
939.4
869.5
913.9
838.1
966.5
950.6
822.5
779.2
804.2
840.7
850.1
894.9
866.2
69.6
73.2
58.9
65.3
89.3
71.5
84.4

Unadjusted quarterly or annual totals:
All industries..
.
.
bil. $
Manufacturing
_. . do
Durable goods industries 1
do
Nondurable goods industries ^
do

88.44
31.35
15.64
15.72

99.74
38.01
19.25
18.76

112. 40
46.01
22.62
23.39

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

31.92
13.63
6.64
6.99

25.82
10.84
5.10
5.74

57.09

61.73

66.39

14.12

15.83

13.69

15.57

16.42

17.05

14.61

16.89

16.61

18.29

14.98

16.76

16.10

.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

.91
.78
.48
.71

.91
.59
.44
.62

.94
.81
.54
.63

.94
.67
.49
.64

5.13
4.38
.75

5.21
4.36
.85

2 8.72

28.16

National Income totalf
Compensation of employees, total
Wages and salaries total
Private
Military
Government civilian
Supplements to wages and salaries
Proprietors' Income total9
Business and professional 9
Farm
Rental Income of persons

-

do
do
do
-do

-

Corporate profits and Inventory valuation adjustment total
bil. $By broad industry groups:
Financial Institutions
do
Nonfinancial corporations, total..
do
Manufacturing total
do
Nondurable goods industries
do
Durable goods industries
do
Transportation, communication, and public
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

1,165.4 1,150.7

33.9
-7.9
71.9

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§

1,168.2 1,186.9
175.1
178.1
993.1 1,008.8
927.6
922. 3
65.5
86.5

1,193.4 1,220.8
178.0
142.0
1,015.5 1,078.8
939.5 964. 1
75.9
114.6

NEW PLANT AND EQUIPMENT
EXPENDITURES

Nonmanufacturing
Mining
Railroad
_
Air transportation
Other transportation

do

.

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

Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
Durable goods industries ^
Nondurable goods industries *f
Nonmanufacturing
Mining
Railroad
Air transportation

2.42
1.80
2.46
1.46

2.74
1.96
2.41
1.66

3.18
2.54
2.00
2.12

.59
.38
.61
.35

17.00
14.48
2.52
11.89
20.07

18.71
15.94
2.76
12. 85
21.40

20.55
17.63
2.92
13.96
22.05

4.39
3.67
.72
2.84
4.97

4.74
4.01
.73
3.39
5.57

3.95
3.45
.50
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

5.67
4.80
.87
3.78
5.97

4.42
3.84
.58
3.11
4.88

do
do
do
do

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

113.99
47.04
23.08
23.96

116.22
48.08
23.28
24.80

114.57
49. 05
22.86
26.20

do

56.70

58.30

60.68

61.18

62.09

63.12

64.31

66.08

66.94

68.14

65.52

65.74

65.10

do
do
do

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

3.07
2.42
2.21
1.84

3.27
2.68
1.84
2.16

3.56
3.05
1.81
2.71

3.76
2.39
2 09
2.82

3.66
3.04
1.83
2.44

3.82
2.97
2.09
2.51

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

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

17.01
17.53
Public utilities
do
14.62
14.67
Electric
do
2.86
2.38
Gas and other
...do...
11.56
12.63
Communication
do. . .
20.21
20.16
Commercial and other
do...
r
Revised.
*> Preliminary.
1 Estimates (corrected for systematic biases) for Apr.June and July-Sept. 1975 based on expected capital expenditures of business. Expected
2
expenditures for the year 1975 appear on p. 17 of the June 1975 SURVEY.
Includes
communication.
t See corresponding note on p. S-l.
9 Includes inventory valuation




i 28.63 i 28. 12
12.02
11.87
5.36
5.42
6.66
6.46

U13.39 i 113.87
48.77
47.64
21.81
21.85
26.96
25.80

20.37
20.27
20.93 20.28
20.16
20.97
18.38
18.08
19.80
20.12
18.58
17.36
17.34
17.76
17.03
18.10
17.47
15.40
15.55
16.72
16.00
17.12
3.01
2.93
3.17
3.25
2.68
2.87
2.52
2.98
3.00
3.08
2.58
14.04
13.36
13.94
14.01
12.34
12.70
13.12
13.24
13.83
2 33. 34
22.04
20.82 234. 50
22.84
21.63
21.55
21.53
21.69
21.36
21.35
adjustment.
© Personal outlays comprise personal consumption expenditures, interest
paid by consumers, and personal transfer payments to foreigners.
§ Personal saving is ex-cess of disposable income over personal outlays.
If Data for individual durable and nondurable goods industries components appear in tne
Mar., June, Sept., and Dec. issues of the SURVEY.

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