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SUEVEY OF CURRENT BUSINESS

10

October 1975

NATIONAL INCOME AND PRODUCT TABLES
1974
1973

II

1974

III

1975

rv

I

II

1974
ID>

1973

1974

II

rv

III

Seasonally adjusted at annual rates

1975
II

I

III 9

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 1 383 8 1,416.3 1, 430. 9 1 416.6 1,440.9 1,497.8

.

804 6

970.0

552.1

539.5

542.7

547.2

528 2

531 5

539 7

548 9

127.5
380.2
369.0

129.5
375.8
363 8

136.1
389.0
376.2

120.7
391.7
383.5

124.9
398.8
389.5

130.6
410.1
397.9

139.0
423.8
407.2

113.6
228.6
209.9

103.1
223.7
212.6

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 9
226 4
215 5

103 5
228 6
216 8

209.4

211 8

205.8

209.4

163.1

148.1

174.9

138 1

126 7

130 3

122 7

120 5

89 3

80 7

94 9

195.2

198.3

197.1

191.6

182.2

179.1

184.4

127.3

118.0

122.2

117.7

109.6

101.0

97.8

99 7

149.2
52.0
97.1
46.0
45.2
.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

142.7
49.1
93.6
36.4
35.6
.8

143.6
49.0
94.6
40.8
39.9
1.0

94.4
25 4
69.0
32.9
32.6
.3

94.0
26.2
67.8
24.0
23.6
.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

80.3
23 5
56 8
17.5
17 1
.4

80 4
23 3
57 1
19.3
18 8
.5

14.2
11.9
2.3

13.5
10 4
3.1

8.7
6.6
2.1

17.8
17.5
.3

—19.2
-17.8
-1.4

-31.0
-30.6
-.4

-9.5
—10.6
1.2

10.8
8.9
1.8

8.7
7.4
1.2

8.2
6 4
1.8

5.0
3.9
1.1

10.9
10.7
.2

—11.7
—10 9
—.8

—17.1
— 16 8
—.2

-4.8
—5 4
.6

3.9

..
-

2.1

-1.5

-3.1

1.9

8.8

16.2

9.8

4.6

9.0

8.2

7.3

9.1

11.6

14.0

11.2

140.2
138.1

138.5
140.0

143.6
146.7

147.5
145.7

142.2
133.4

136.0
119.8

140.2
130.4

66.6
62.0

71.9
62.9

73.4
65.1

70.9
63.6

69.9
60.9

66 5
54.9

63 3
49.4

65 4
54.1

276.4

. . .

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

783 6

938.6

100.4
96.4

Net exports of goods and services
Exports
Imports

780 0

913.2

15.4
11.4
4.0

Change in business inventories
Nonfarm
Farm

804 0

895.8

136.8
47.0
89.8
57.2
56.7
.5

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

823 1

901.3

194.0

Fixed investment . .

827 1

869.1

209.4

Gross private domestic investment

821 2

876.7

130.3
338.0
336.9

Durable goods
Nondurable goods
Services

839 2

805.2

Gross national product
Personal consumption expenditures. .

309.2

304.4

312.3

323.8

331.6

338.1

343.1

144.4

146.0

145.8

145.9

146.3

147 7

149.2

149.6

106.6
74.4
32.2
169.8

116.9
78.7
38.2
192.3

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

128.4
84.8
43.6
209.7

129.9
85.6
44.3
213.2

57.3

56.5

56.3

56.5

57.0

57.4

58.3

58.4

87.0

89.5

89.5

89.4

89.3

90.2

90.9

91.2

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

.

1, 294. 9 1, 397. 4 1,383.8 1, 416. 3 1, 430. 9 1,416.6 1,440.9 1,497.8

839.2

821.2

827.1

823.1

804.0

780.0

783.6

804.6

1, 279. 6 1,383.2 1 370.3 1, 407. 6 1, 413. 1 1, 435. 8 1, 471. 9 1, 507. 3
14.2
17.8 -19.2 -31.0
15.4
13.5
8.7
—9.5

.

Final sales
Change in business inventories..

828.4
10.8

812.5
8.7

818.9
8.2

818.1
5.0

793.1
10.9

791.8
—11.7

800.7
-17.1

809.4
-4.8

622.7

670.3

664.9

681.7

682.6

667 0

680.5

720.9

459.1

442.8

448.9

446.0

427.1

408.3

411.1

429.1

607.3
15.4

656.1
14.2

651 3
13 5

673.0
8.7

664.8
17.8

686.1
—19.2

711.5
-31.0

730.3
—9.5

448.3
10.8

434.1
8.7

440.8
8.2

441.0
5.0

416.3
10.9

420.1
-11.7

428.2
-17.1

433.9
-4.8

Durable goods
Final sales
Change in business inventories

250.3
240.9
9.4

256.9
249.2
7.7

246.6
248 5
—1.8

265.5
259.8
5.7

264.5
246.2
18.3

239.5
252.9
-13.4

247.0
261.7
-14.7

257.2
269.0
-11.8

206.0
198.5
7.5

195.9
191.0
4.9

195.4
196.6
-1.2

200.2
196.6
3.6

188.0
176.7
11.3

167.5
176.1
-8.6

169.7
177.8
-8.1

177.1
182.9
-5.8

Nondurable goods . .
Final sales
Change in business inventories

372.4
366.5
6.0

413.4
406.9
6.5

418 2
402.9
15 4

416.2
413.2
3.0

418.1
418.6
-.5

427.5
433.2
—5.7

433.5
449.8
—16.3

463.7
461.3
2.3

253.1
249.9
3.3

246.9
243.1
3.8

253.6
244.2
9.4

245.8
244.4
1.4

239.2
239.6
-.4

240.8
244.0
-3.2

241.4
250.3
-9.0

252.0
251.0
1.0

534 4

590.3

579 2

597.8

614.5

620.9

635.3

647.3

304.5

310.9

308.3

310.7

313.7

312.2

315.0

316.4

128 8

125.2

129.6

75.5

67.5

69.8

66.4

63.2

59.5

57.5

59.1

Goods output
Final sales
Change in business inventories

Services
Structures

..

137.8

136 8

139 7

136.7

133.9

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 government..
Federal
State and local
Rest of the world
Addendum: Gross private product.

,294.9 1,397.4 1,383.8

1,416. 3 1i, 430.9 1,416.6 1,440.9 1,497.8

,096.8 1,177. 8 1,168.8 1,195.7 1,203.6 1,189.2 1,207.8 1,261.1
1,040.3 1,124.1 1,117. 8 1,144.4 1,151.5 1,142.9 1,159. 9 1,205. 2
56.5
51.3
51.1
52.1
47.9
55.9
53.8
46.3

753.1
725.8
27.4

821.2

827.1

823.1

804.0

780.0

783.6

816.9

839.2

1,286.5 1,385.6 1,374.1 1,405.2 1,418.9 1,409.4 1,432.6 1,489.7

824.1

819.8

800.0

777.7

780.8

733.8
706.3
27.5

741.4
712.7
28.7

736.6
708.0
28.6

716.5
690.8
25.7

666.0
27.5

696.0
669.6
26.5

41.3

47.0

46.5

48.0

48.8

50.0

51.1

52.2

18.5

18.9

18.8

18.9

18.8

18.9

19.1

148.5
52.8
95.7

160.8
55.7
105.1

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

176.4
58.5
117.8

62.3
21.3
41.0

64.1
21.1
43.0

63.9
21.1
42.8

64.2
21.0
43.2

64.8
21.0
43.7

65.2
21.0
44.3

65.7
20.9
44.8

8.4

11.9

9.7

11.1

12.0

7.2

8.3

8.1

5.2

4.3

3.0

3.3

4.0

2.3

2.8

1,146.5 1,236.6 1,225.0 1,254.7 1,264.4 1,246.4 1,267.2 1,321.4

776.9

757.1

763.2

758.8

739.2

714.8

718.0

v Preliminary.

Benchmark Revision of GNP

The benchmark revision of GNP which had been scheduled for completion in October will be published in the December SURVEY. An article describing new estimates of capital consumption allowances
that BEA intends to introduce in the benchmark revision is presented on page 14 of this issue.




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 $6.80) 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.
1973

1972

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

1974

1972
III

Annual total

IV

I

II

1975

1974

1973
III

IV

I

II

III

| IV

I

II

IIlP

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
1,430.9 1,416. 6

1,440.9 1, 497. 8

1,158.0

1,294.9

1, 397. 4

Personal consumption expenditures, total.. do

729.0

805.2

876.7

736.8

757. 2

781.7

799.0

816.3

823.9

840.6

869.1

901.3

895.8

913.2

938.6

970.0

Durable good" total 9
do
Automobiles and parts
do
Furniture and household equipment. --do

118.4
53.1
48.7

130.3
57.5
55.0

127.5
49.7
58.8

121.2
55.3
49.3

124.3
56.4
50.7

132.4
60.4
54.3

132.1
59.2
54.9

132.4
59.3
55.5

124.3
51.2
55.4

123.9
48.0
57.5

129.5
50.6
59.5

136.1
56.2
60.4

120.7
43.7
57.8

124.9
46.8
57.9

130.6
49.4
60.7

139.0
55.0
62.3

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

Gross national product totalf

bil $

1,169.3 1,204.7 1,248.9 1,277.9 1,308.9

1,344.0

1,358.8 1,383.8

1,416.3

-.

do
-do
do
do

299.7
63.0
143.7
25.0

338.0
70.2
165.1
28.3

380.2
74.1
187.7
35.9

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

375.8
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

410.1
78.7
204.8
39.6

423.8
81.5
209.7
41.7

._ ..

do
do
do
do

310.9
43.3
107.9
21.8

336.9
47.3
116.4
23.4

369.0
52.9
126.4
26.1

313.6
43.9
108.9
21.9

322.0
45.5
110.7
22.3

325.9
45.6
113.1
22.8

334.2
46.6
115.6
23.1

340.1
48.3
117.0
23.6

347.4
48.7
119.7
24.1

352.4
49.2
122.2
25.0

363.8
51.7
124.9
25.6

376.2
54.6
127.7
26.5

383.5
56.0
130. 9
27.1

389.5
57.0
134.1
28.1

397.9
59.5
136.6
28.8

407.2
61.6
139.2
29.5

Gross private domestic investment, total.. .do

179.3

209.4

209.4

182.1

190.2

199.0

205.1

209.0

224.5

210.5

211.8

205.8

209.4

163.1

148.1

174.9

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

195.2
149.2
52.0
97.1
46.0
45.2
14.2
11.9

171.9
117.5
40.6
76.8
54.5
53.9
10.2
9.6

179.2
122.5
42.2
80.3
56.7
56.2
11.0
10.4

189.0
130.5
44.6
85.9
58.5
58.0
10.0
6.5

194.4
135.6
46.2
89.4
58.7
58.4
10.7
7.7

197.1
139.0
47.9
91.1
58.1
57.6
11.8
7.4

195.5
141.9
49.3
92.6
53.6
53.0
28.9
24.0

193.6
145.2
51.3
93.9
48.4
47.8
16.9
13.1

198.3
149.4
52.2
97.2
48.8
48.0
13.5
10.4

197.1
150.9
51.0
99.9
46.2
45.4
8.7
6.6

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
-17.8

179.1
142. 7
49.1
93.6
36.4
35.6
-31.0
30.6

184.4
143.6
49.0
94.6
40.8
39.9
-9.5
-10.6

-6.0
72.4
78.4

3.9
100.4
96.4

2.1
140.2
138.1

-4.8
73.3
78.1

-5.3
78.5
83.8

-.8
88.8
89.5

.5
95.4
94.9

6.7
103.7
96.9

9.3
113.6
104.3

11.3
131.2
119.9

-1.5
138.5
140.0

-3.1
143.6
146.7

1.9
147.5
145.7

8.8
142. 2
133.4

16.2
136.0
119.8

9.8
140.2
130.4

255.7
104.9
74.8
150.8

276.4
106.6
74.4
169.8

309.2
116.9
78.7
192.3

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

338.1
128.4
84.8
209.7

343.1
129.9
85.6
213.2

1,149.5 1,279.6
535.2
607.3
214.3
240.9
321.0
366.5
488.1
534.4
126.1
137.8

1, 383. 2
656.1
249.2
406.9
590.3
136.8

Services total 9
Household operation
Housing
..
Transportation

--

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:f
Final sales, total
Goods total
Durable goods
_
Nondurable goods
Services
Structures
_

-

do
do
do
do
do ._
do

1,159.1 1,193.7 1,238.9 1,267.2 1,297.0 1,315.1 1,341.9 1,370.3
635.0 651.3
624.7
618.0
556.2
541.0
585.8 600.9
242.3 248.5
243.9 240.6
223.6
237.8 241.2
218.3
374.2 384.1 392.8 402.9
332.6 347.9 359.7
322.7
579.2
569.7
540.2 553.2
506.5
516.0 528.3
492.4
137.1
139.7
137.2
130.9
137.1
138.0
138.8
125.6

1Q O

1,407.6 1,413.1 1,435. 8 1,471.9 1, 507. 3
686.1
711.5
673.0
730.3
664.8
252.9
261.7
269.0
259. 8
246.2
433.2
449.8
461.3
413. 2
418.6
635.3 647.3
620.9
597.8 614.5
125.2
128.8
129.6
136.7
133.9

8.5
7.1
1.4

15.4
9.4
6.0

14.2
7.7
6.5

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
-.5

-19.2
-13.4
-5.7

-31.0
-14.7
16 3

792.5

839.2

821.2

798.1

814.2

832.8

837.4

840.8

845.7

830.5

827.1

823.1

804.0

780.0

783.6

804.6

527.3

552.1

539.5

531.2

542.2

552.9

553.7

555.4

546.3

539.7

542.7

547.2

528.2

531.5

539.7

548.9

do
do
do

104.9
220.2
202.2

113.6
228.6
209.9

103.1
223.7
212.6

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

97.9
226.4
215.5

103.5
228.6
216.8

Gross private domestic investment, total.. .do

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

do
do
do

-9.5
-11.8
2.3

GNP in constant (1958) dollarsf
Personal consumption expenditures, total. -do
Durable goods
Nondurable goods
Services

125.0

138.1

126.7

126.6

130.9

134.4

136.3

135.8

145.8

133.3

130.3

122.7

120.5

89.3

80.7

94.9

Fixed investment
Nonresidential
..
Residential structures
Change in business inventories

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

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

97.8
80.3
17.5
-17.1

99.7
80.4
19.3
-4.8

Net exports of goods and services

do

-3.0

4.6

9.0

-1.4

-1.9

1.4

3.5

5.8

7.9

11.5

8.2

7.3

9.1

11.6

14.0

11.2

143.0
Govt. purchases of goods and services, total _ do
141,8
143.1
144.4
146.0
59.2
61.0
56.5
Federal
do
59.5
57.3
82.1
82.4
83.8
89.5
State and local .
.
..do
87.0
'Revised.
» Preliminary.
j Re vised seri es. E stimates of nation al income and prod uct
and personal income have been revised back to 1971 (see p. 11 ff. of tlle July 19 74 SURVI:Y);
revisions prior to May 1973 for personal income appe ar on pp. 22-23 of the July 1974 SURV EY.

149.6
147.7
149. '2
145.9
145.8
145.7
146.0
143.7
144.1 143.9
58.4
57.4
58.3
56.3
56.5
56.4
56.3
56.2
57.7
58.9
91.2
90.2
90.9
89.4
89.5
89.3
89.7
87.5
86.2
85.2
Revi sed data for nati anal income and product and perso nal incortie custoinarily piiblished
inJu ly issues of the SiJRVEY ha ve been postpone d until la Ler;seeb ax note o a p. 10 of the Oct.
9 Iricludes d ata not s aown setmrately.
1975 SURVEY.
146.3
57.0
89.3

S-l
594-639 O - 75 - S-l




S-2

October 1975

SURVEY OF CURRENT BUSINESS

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

1972

1 1973 | 1974
Annual total

1972

IV

1973

I

II

1975

1974

IV

III

II

I

IV

III

II

I

III*

IV

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

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

-

170. 18
162.5

47.96
139.7

149. 95
141.4

152. 61
144.3

155. 67
147.0

158. 93
150.8

63.61
155.8

167.31
160.2

72.07
164.7

177.97
169.6

181.62
171.8

83.88
173.9

86.15
176.7

144.8
139.6
157.4
178.6

152.4
144.9
174.0
191.5

165.3
158.7
191.4
211.8

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

183.2
177.7
208.2
226.5

185.0
178.6
211.6
229.3

946.5

1,065.6

,142. 5

987.0

,027.6

,051.2

,077.3

,106.3

,118.8

,130.2

,155.5

1, 165. 4

.150.7

,175.4

do

Compensation of employees, total

154. 31
145.9

bil $

National income totalf

46.12
138.2

707.1

786.0

855.8

732.9

759.1

776.7

793.3

814.8

828.8

848.3

868.2

877.7

875.6

885.4

906.4

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

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

773.0
601.9
21.9
149.2
112.4

791.3
617.3
22.0
152.0
115.2

do .do
do
do

75.9
54.9
21.0
25.9

96.1
57.6
38.5
26.1

93.0
61.2
31.8
26.5

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

86.1
63.4
22.7
27.1

94.6
64.7
29.9
27.4

92.2

105.1

105.6

99.8

103.9

105.0

105.2

106.4

107.7

105.6

105.8

103.4

94.3

104.9

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

20.8
84.1
48.3
30.4
18.0

Corporate profits and inventory valuation adjustment total
bil $
By broad industry groups:
Financial institutions
do
Nonflnancial corporations, total
do
Manufacturing, total
.do
Nondurable goods industries
do
Durable goods industries
do

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

18.3
81.5
45.1
20.0
25.1

9.2
24.6

9.2
28.7

7.8
30.1

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

8.1
27.8

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

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

113.3
43.0
70.3
34.0
36.3

do
do

-7.0
45.6

-17.6
52.3

^35. 1
61.6

-8.4
47.5

-16.5
49.2

-20.0
51.1

-17.5
53.2

-16.3
55.5

-27.7
57.5

-33 4
60.1

-51.2
62.8

-28.1
65.9

-7.0
68.9

-8.4
71.9

944.9
142.4
802.5
749.9
52.6

1,055.0 1, 150. 5
151.3
170.'8
903.7
979.7
829.4
902.7
74.4
77.0

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

34.5
-11.5
75.9

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

bil. $..
do
do
-do
do...

985.0 1,013.6 1,039.2 1,068.0 1,099.3 1,112.5 1,134.6 1,168.2 1,186.9 1,193.4 1,220.5 1, 255. 0
142.0
178.0
178.1
175.1
168.2
147.2
159.9
154.2
161.9
147.0
144.1
993.1 1,008.8 1,015.5 1,078.5 1, 079. 1
939.4
966.5
892.1
913.9
950.6
838.1
869.5
964.7 996.3
939.5
927.6
922.3
894.9
850.1
822.5
840.7
779.2
866.2
804.2
113.8
75.9
82.9
86.5
65.5
71.5
73.2
89.3
69.6
84.4
58.9
65.3

NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
Manufacturing
Durable goods Industries J
Nondurable goods industries!

bil. $
do
do
do ..

99.74
38.01
19.25
18.76

112. 40
46.01
22.62
23.39

25.20
9.38
4.77
4.61

21.50
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

28.43
12.15
5.59
6.55

do ...

Nonmanufacturing. _

88.44
31.35
15.64
15.72
57.09

61.73

66.39

15.83

13.69

15.57

15.42

17.05

14.61

16.89

16.61

18.29

14.98

16.28

16.22

17.58

91
.78
.48
.71

91
.59
.44
.62

.97
.71
.47
.77

.91
.60
.51
.72

.99
.66
.43
.62

4.94
4.15
.79
3.22
5.19

5.24
4.34
.90

5.64
4.70
.94

28.24

29.25

1 28. 08 131.18
13.60
11.86
6.17
5.36
7.43
6.49

Mining
Railroad
.
Air transportation..
Other transportation .

do ..
do
do ..
do

2.42
1.80
2.46
1.46

2.74
1.96
2.41
1.66

3.18
2.54
2.00
2.12

.63
.47
.63
.40

.63
.46
.52
.32

.71
.46
.72
.43

.69
.48
.57
.44

.71
.56
.60
.47

.68
.50
.47
.34

.78
.64
.61
.49

.80
.64
.43
.58

Public utilities
Electric Gas and other
Communication
Commercial and other.

do
do .
do...
do
do ..

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

4.74
4.01
.73
3.39
5.57

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

5.30
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

do
do
do

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

112.46 U13.48 i 113.70
48.00
48.78
48.13
21.80
22.59
21.83
26.20
26. 19
26.30

do

58.30

60.68

61. 18

62.09

63.12

64.31

66.08

66.94

68.14

65.52

63.68

65.35

65.70

2.77
1 75
2.72
1.62

2.82
1.95
2.49
1.79

2.76
2.05
2.2
1.7

2.80
2.10
2.13
1.63

3.07
2.42
2.21
1.84

3.27
2.68
1.84
2.1

3.56
3.05
1.81
2.7

3.76
2.39
2.09
2.82

3.78
2.70
1.60
2.75

3.68
2.67
2.18
2.64

3.89
2.56
1.65
2.56

Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
Durable goods industries ^
Nonmanufacturing
Atr transportation

_.

do

2.46
1.71
2.33
1.42

2.59
2.11
2.21
1.53

18.38
17.53
Public utilities
do
15.40
14.67
Electric
do
2.98
2.86
Gas and other
do
12.34
12.63
Communication
do
20.21
21.53
Commercial and other
do...
' Revised.
P Preliminary.
1 Estimates (corrected for systematic biases) for JulySept, and Oct.-Dec. 1975 based on expected capital expenditures of business. Expected
2
expenditures for the year 1975 appear on p. 28 of the Sept. 1975 SURVEY.
Includes communication,
f See corresponding note on p. S-l.
9 Includes inventory valuation




4.88

20.66
20.4
19.5
20.93
20.28
20.16
20.97
20.12
19.80
18.58
18.08
17.38
16.4
17.3
17.7
17.03
17.4
18.10
17.12
16.7
16.00
15.55
3.29
3.1
3.1
3.1
3.25
2.6
2.87
3.00
3.0
2.52
2.58
14.0
12.5
13.3
14.0
13.9
13.83
13.2
13.12
12.70
234.38
22.04
233.6
20.8
20.8
22.8
21.63
21.69
21.3
21.36
21.55
adjustment.
0 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.
llData for individual durable and nondurable goods industries components.appear in tna
Mar., June, Sept., and Dec. issues of the SURVEY.

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