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SURVEY OF CURRENT BUSINESS

May 1978

NATIONAL INCOME AND PRODUCT TABLES
1976
1976

1977

IV

1977
i

ii

1978
in

rv

1976
1976

1977

1977
I

IV

Seasonally adjusted at annual rates

1978

II

III

IV

Ir

Seasonally adjusted at annual rates

Billions of current dollars

Billions of 1972 dollars

Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
,706.5 1,889.6 1,755.4 1,810.8 1,869.9 1,915.9 1,961.8 1, 993.4 1,274.7 1,337.3 1,287.4 1,311.0 1,330.7 1,347.4 1,360.2 1,358.8

Gross national product
Personal consumption expenditures
Durable goods
Nondurable goods.
Services

,094.0 1,211.2 1,139.0 1,172. 4 1,194.0 1,218.9 1,259.5 1, 281.9

821.3

861.2

839.8

850.4

854.1

860.4

879.8

877.5

127.5
321.6
372.2

138.2
333.7
389.2

130.7
329.4
379.7

136.9
329.7
383.8

137.9
330.0
386.3

136.5
332.4
391.4

141.6
342.7
395.5

137.1
337.7
402.8

195.5

169.2

186.7

197.2

200.8

197.5

203.5

188.7

189.7

158.9
442.7
492.3

Gross private domestic investment..
Fixed investment

179.8
480.7
550.7

166.3
458.8
513.9

177.0
466.6
528.8

243.3

294.2

243.4

271.8

177.6
481.8
559.5

186.0
499.9
573.7

183.2
503.9
594.8

294.9

303.6

306.7

319.5

173.0

280.0

293.2

299.8

164.5

183.7

171.0

177.0

184.0

185.1

178.6
474.4
541.1

230.0

276.1

244.3

258.0

273.2

Nonresidential
Structures
Producers' durable equipment..

161.9
55.8
106.1

185.1
61.5
123.6

167.6
57.0
110.6

177.0
57.9
119.2

182.4
61.0
121.4

187.5
62.6
124.9

193.5
64.5
129.0

199.7
66.0
133.6

116.8
37.1
79.7

126.8
38.4
88.4

119.0
37.3
81.7

124.3
37.0
87.3

126.4
38.2
88.1

127.6
38.9
88.7

128.9
39.4
89.5

130.6
39.6
91.0

Residential
Nonfarm structures
Farm structures
Producers' durable equipment..

68.0
65.7
1.0
1.3

91.0
88.4
1.1
1.4

76.7
74.3
1.1
1.3

81.0
78.5
1.1
1.4

90.8
88.2
1.2
1.4

92.5
89.9
1.1
1.5

99.7
97.1
1.0
1.6

100.1
97.3
1.1
1.7

47.7
46.0
.7
1.0

56.9
55.1
.7
1.1

52.0
50.2
.7
1.1

52.7
50.9
.7
1.1

57.6
55.7

57.5
55.7
.7
1.1

59.9
58.0
.6
1.2

59.1
57.1
.7
1.3

13.3
14.9
-1.6

18.2
17.1
1.0

1.4
-2.3

13.8
14.1
-.3

21.7
22.4
-.7

23.6
23.1
.5

13.5
9.0
4.5

19.7
18.9
.8

8.5
10.1
-1.6

11.8
11.1
.7

-1.8
.7
-2.5

9.7
9.9
-.2

13.2
13.6
-.5

15.7
15.3
.4

8.7
5.5
3.2

13.8
13.3
.5

Change in business inventories.
Nonfarm
Farm

7.8

Exports
Imports
Government purchases of goods and services..
Federal
National defense..
Nondefense
State and local

-10.9

3.0

-8.2

-9.7

-7.5

-18.2

-24.6

16.0

9.5

13.8

10.6

9.4

12.2

5.9

3.4

162.9
155.1

174.7
185.6

168.5
165.6

170.4
178.6

178.1
187.7

179.9
187.4

180.3
204.8

95.8
79.8

97.5
88.0

96.9
83.1

96.9
86.3

98.5
89.1

99.8
87.6

94.8
88.9

98.0
94.6

361.4

395.0

370.0

374.9

390.6

400.9

170.6
188.8
413.8

416.6

264.4

271.1

264.6

263.3

270.0

274.0

277.0

274.4

130.1
' 86.8
43.3
231.2

Net exports of goods and services.

145.4
94.3
51.1
249.6

134.2
88.4
45.8
235.8

136.3
89.7
46.7
238.5

143.6
93.4
50.2
247.0

148.1
95.6
52.5
252.9

153.8
98.5
55.2
260.0

152.7
99.5
53.2
263. 9

96.5

101.4

97.1

97.0

101.1

103.3

104.2

101.7

167.9

169.7

167.5

166.4

170.7

172.8

172. 6

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

1,706.5 1,889.6 1,755.4 1,810.8 1,869.9 1,915.9 1,961.8 1,993.4 1,274.7 1,337.3 1,287.4 1,311.0 1,330.7 1,347.4 1,360. 2 1,358.8

Final sales
Change in business inventories.
Goods
Final sales
Change in business inventories.

1,693.1 1,871.4 1, 756.3 1,797. 0 1,848.2 1,892. 2 1,948. 2 1, 973. 7 1,266. 2 1,325. 5 1, 289. 2 1,301.2 1,317.5 1,331.8 1,351. 5 1,345. 0
13.2
13.8
9.7
15.7
18.2
8.5
-1.8
-.9
13.8
23.6
13.5
19.7
13.3
21.7
11.8
8.7
615.4
624.4
602.4
608.5 ' 617.0
863.8
613.1
834.7
827.1
843.5 862.5
581.9
774.7
580.1
764.2
805.9
601. 6
595.3
615.7
592.7
601.3
583.7
775.6
805.4
849.0
844.1
571.6
601.2
816.6
792.1
819.9
750.9
Q
13.2
13.8
9.7
15.7
8.7
8.5
-1.8
18.2
13.8
21.7
13.5
23.6
19.7
11.8
13.3

Durable goods
Final sales
Change in business inventories.

303.4
299.3
4.1

341.3
332.2
9.1

312.6
312.0
.6

334.4
326.6
7.8

341.0
329.5
11.5

342.3
332.1
10.3

347.6
340.9
6.8

348.8
334. 5
14.3

235.2
232.4
2.8

253.8
247.7
6.1

237.0
237.0
.1

252.3
246.7
5.6

254.7
247.4
7.3

253.5
246.8
6.7

254.8
250.1
4.6

253. 2
244.0
9.2

Nondurable goods
Final sales
Change in business inventories.

460.9
451.6
9.3

493.4
484.3
9.1

462.1
463.6
-1.6

471.5
465.6
6.0

486.1
475.9
10.2

501.2
487.8
13.4

514.9
508.1
6.8

515.0
509. 6
5.5

344.9
339.3
5.7

359.3
353.5
5.8

344.8
346.7
-1.9

350.1
346.0
4.2

353.8
347.9
5.8

363.5
354.5
9.0

369.7
365.6
4.1

362.3
357. 6
4.6

782.0
160.2

867.4
187.5

813.8
166.9

833.7
171.2

855.3
187.5

881.6
190.7

898.8
200.4

929.8
199.8

584.7
109.9

606.2
118.0

593.6
111.9

597.1
111.5

602.9
119.3

611.1
119.4

613.8
122.0

624.0
119.4

Services
Structures..

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product .
Gross domestic product
Business
Nonfarm
Nonfarm less housing.
Housing
Farm
Statistical discrepancy..
ResiduaU
Households and institutions.
Government
Federal
State and local..
Rest of the world.

,706.5 1,889.6 1,755.4 1,810.8 1,869.9 1,915.9 1,961.8 1, 993.4 1,274.7 1,337.3 1,287.4 1,311.0 1,330.7 1,347.4 1,360.2 1,358.8
1,692.1 1,872.5 1,740.9 1,793.2 1,851.4 1,898.2 1,947.1 1, 975.4 1,268.0 1,330.1 1,280.9

1,303.3 1,322.8 1,340.1 1,354.2 1,351.5

1,444.3 1,603.6 1,485. 2 1,532.3 1,586.4 1,628.1 1,667. 7 1, 689. 3 1, 082. 0 1,141. 2 1,093.9 1,116.2
1,390.9 1,553.5 1,433.4 1,478.0 1,536.7 1,580. 0 1,619.5 1, 644. 2 1,043. 8 1,104. 6 1,054. 8 1,077. 8
1,258.7 1,407. 4 1,296.8 1,337.4 1,392.7 1,431.9 1,467. 6 1, 488. 6
934.9
991.8
944.7
966.7
146.1
148.0
132.3
136.5
144.1
140.6
151.9
155.7
110.2
111.1
108.8
112.8
47.2
47.9
50.3
50.8
46.4
52.1
51.0
51.8
34.1
35.1
33.0
35.8
5.5
-.2
-1.2
-3.9
5.3
3.3
-6.7
3.4
5.2
4.9
56.2

63.0

58.3

60.4

62.0

63.6

66.2

68.9

40.2

134.9 1,150. 5 1,163. 3 1,159. 6
099.8 1,112.7 1,128. 0 1,128.1
987.8
999.3 1,013.4 1,012.5
112.1
115. 6
113.4
114.5
34.9
35.1
36.2
37.1
-3.6
-1.7
.2
1.6

41.4

40.6

40.6

41.2

41.7

42.1

42.3

146.5
48.6
97.9

146.7
48.6
98.1

147.9
48.7
99.2

148.7
48.7
100.1

149.5
48.7
100.9

7.7

7.9

7.4

6.0

7.3

191.6
62.4
129.2

205.8
66.5
139.4

197.5
64.7
132.8

200.5
65.4
135.1

203.1
65.5
137.6

206.5
65.8
140.7

213.2
69.1
144.1

217.2
69.8
147.5

145.8
48.4
97.3

147.5
48.6
98.8

146.4
48.6
97.8

14.4

17.1

14.4

17.6

18.4

17.7

14.7

18.1

6.7

7.2

6.5

• Revised.

HISTORICAL STATISTICS
The national income and product data for 1929-72 are in The Documents; see addresses inside front cover). Data for 1973 and
1974-76 are in the July 1976 and July 1977 issues of the SURVEY,
Statistical Tables (available for $4.95, SN 003-010-00052-9, from respectively (except for seasonally unadjusted quarterly estimates,
Commerce Department District Office or the Superintendent of which are in the September 1976 and August 1977 issues).
National Income and Product Accounts of the United States, 1929-74:




CURRENT BUSINESS STATISTICS

JL HE STATISTICS' here update series published in the 1975 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
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, 1971 through 1974 (1964-74 for major quarterly
series), annually, 1947-74; for selected series, monthly or quarterly, 1947-74 (where available). Series added or significantly revised after the 1975
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively. 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 1975 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 187-88. 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.
OF CURRENT BUSINESS.

1976

1975
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1977

1975

I

II

1976

III

IV

I

II

1978

1977

III

IV

I

II

III

I'

IV

Annual total
Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
Gross national Droduct totalt

bil $

Personal consumption expenditures, total, .do

1,528.8
980.4

1,706.5

1,889.6

1,094.0 1, 211. 2

, 453.0 1,496.6 1,564.9 1,600.7 1,651.2 1,691.9 1 727.3 1 755.4 1,810.8 1,869.9
936.5

965.9

995.1 1,024.1 1,056.0 1,078.5 1,102.2 1,139.0 1,172.4 1,194.0

1,915.9

1, 961.8 1,993.4

1,218.9

1, 259.5 1,288.9

Durable goods, total 9
do
Motor vehicles and parts
do .
Furniture and household equipment...do

132.9
53.9
58.0

158.9
71.9
63.9

179.8
83.8
70.5

122.8
48.0
54.8

127.8
49.9
57.4

136.7
56.5
58.7

144.3
61.3
61.0

153.3
68.8
62.0

156.7
71.0
63.0

159.3
72.1
63.9

166.3
75.7
66.5

177.0
85.3
67.4

178.6
84.5
69.3

177.6
81.2
70.9

186.0
84.2
74.3

183.2
85.0
71.4

Nondurable goods, t o t a l 9 . Clothing and shoes
Food
Gasoline and oil

409.3
70.2
209.5
39.1

442.7
76.3
225.5
41.4

480.7
83.0
246.2
44.7

394.0
66.6
202.6
38.2

406.4
69.8
207.9
39.7

415.0
71.5
212.1
39.1

421.9
73.0
215.4
39.8

430.4
74.2
219.3
40.6

437.1
74.3
223.9
40.3

444.7
76.9
227.0
41.2

458.8
79.9
232.0
43.5

466.6
79.3
237.9
44.1

474.4
80.4
244.8
44.3

481.8
83.3
248.3
44.2

499.9
89 0
254.0
46.3

503.9
85.4
259.3
47.2

438.2
64.2
150.8
32.2

492.3
73.0
167.9
36.8

550.7
82.9
184.4
41.6

419.7
61.4
145.1
31.6

431.7
63.7
148.5
31.6

443.4
65.3
152.4
32.2

457.9
66.3
157.2
33.2

472.4
69.5
161.5
34.8

484.6
70.4
166.2
36.3

498.2
73.1
170.4
37.0

513.9
78.8
173.7
38.7

528.8
80.7
177.6
39.5

541.1
79.2
181.9
40.5

559.5
85.2
186.7
42.3

573.7
86 6
191.4
43 8

594.8
91.9
196.4
45.9

.do...
do
do
do

Services total 9
Household operation
Housing
TransDortation

_.do
do
..do
do

- -

Gross private domestic investment, total__.do

189.1

243.3

294.2

175.1

171.2

205.4

204.7

231.3

244.4

254.3

243.4

271.8

294.9

303.6

306.7

319.5

do
do
- do
do

200.6
149.1
52.9
96.3

230.0
161.9
55.8
106.1

276.1
185.1
61.5
123.6

197.1
149.8
53.3
96.5

196.3
147.7
51.9
95.7

200.5
148.2
52.8
95.4

208.4
150.7
53.4
97.4

216.8
155.4
54.7
100.8

226.1
159.8
55.8
104.0

232.8
164.9
56.0
109.0

244.3
167.6
57.0
110.6

258.0
177.0
57.9
119.2

273.2
182.4
61.0
121.4

280.0
187.5
62.6
124.9

293 2
193.5
64 5
129.0

299.8
199.7
66.0
133.6

Residential
do
Change in business inventories
do
Nonfarm
- - - - do
Net exports of goods and services
. . do
Exports
- - do
Imports
- - do

51.5
-11.5
—15.1

68. C
13.3
14.9

91.0
18.2
17.1

47.3
-22.0
-25.9

48.6
-25.1
-26.9

52.3
4.9
1.4

57.6
-3.6
-9.2

61.4
14.5
15.9

66.3
18.3
20.4

67.8
21.5
22.0

76.7
-.9
1.4

81.0
13.8
14.1

90.8
21.7
22.4

92.5
23.6
23.1

99 7
13.5
9 0

100.1
19.7
IS. 9

20.4
147.3
126.9

7.8
162.9
155.1

-10.9
174.7
185.6

15.4
147.4
131.9

24.3
142.7
118.3

20.8
146.9
126.1

20.8
152.1
131.3

10.2
153.9
143.7

10.2
160.6
150.4

7.9
168.4
160.6

3.0
168.5
165.6

-8.2
170.4
178.6

-9.7
178.1
187.7

-7.5
179.9
187.4

-18.2
170 6
188 8

-24.6
180.3
204.8

338.9
123.3
83.9
215.6

361.4
130.1
86.8
231.2

395.0
145 4
94.3
249 6

326.0
119.6
81.6
206.4

335.2
121.8
83.0
213.3

343. 5
123.8
84.4
219.7

351. 0
128.1
86.7
222.9

353.6
127.6
86.3
225.9

358.9
128.5
86.0
230.4

363.0
130.2
86.4
232.7

370.0
134.2
88.4
235.8

374.9
136.3
89.7
238.5

390.6
143.6
93.4
247.0

400.9
148.1
95.6
252.9

413.8
153 8
98.5
260 0

416.6
153.8
99.5
263.9

1 540.3
do
do
697.7
..do _
_ 267.5
do
430.2
..do
699.2
- - do
143.5

1 693 1
750.9
299.3
451.6
782.0
160 2

1 871 4
816.6
332 2
484.3
867 4
187 5

475.0 1,521.7 1,506. 6 1,604.4 1,636. 7 1,673. 7 1 705.8 1 756.3 1,797.0 1,848.2
792.1
805.4
692.9
725.2
730.0
743.4
754.5
665.8
706.6
775.6
329.5
294.9
326.6
250.6
263.8
272.5
283.1
287.6
302.7
312.0
415.2
475.9
429.1
434.2
442.1
442.4
448.5
465.6
451.8
463.6
855.3
670.5
689.5
833.7
7C8.4
728.3
751.6
770.8
791.8
813.8
171.2
187.5
139.3
155.0
145.0
138.8
159.4
159.6
150.8
166.9

1,892.2
819.9
332.1
487.8
881.6
190.7

-11.5
—9 2
—2.2

13.3
4 1
9.3

18.2
9 1
9 1

21.7
11.5
10.2

23.6
10.3
13.4

_bil.$__ 1,202.1

1,274.7

1,337.3 1,169.8 1,188.2 1,220. 7 1,229.8 1,256.0 1,271.5 1,283.7 1,287.4 1,311.0 1,330.7

1,347.4

Fixed investment
...
Nonresidential
Structures
Producers' durable equipment

Govt. purchases of goods and services, total.do
Federal
. . .
do...
National defense
do
State and local
do...
By major type of productrf
Final sales total
Goods total
Durable goods
Nondurable goods
Services
Structures

.
. -

Change in business inventories
Durable gocds
N o n d u r a b l e goods

do
do _

. . .

do

-22.0
—12.8
-9.2

-25.1
—11.7
-13.4

4.9
—2.1
7.0

-3.6
—10 3
6.7

14.5
—2 0
16.6

18.3
7 0
11.2

21.5
10.7
10.9

-.9
6
-1.6

13.8
7.8
6.0

1, 948. 2 1,973.7
849.6
844.1
340.9
339.5
508.1
515.0
898.8
929.8
200.4
199.8
13.5
6.8
6.8

19.7
14.3
5.5

GNP in constant (1972) dollars!

Gross national product, totalf.

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

. .

.do
do
. . do .

Gross private domestic investment, total.-.do

1,360. 2 1,358.8

775.1

821.3

861.2

756.9

770.4

780.2

792.8

807.2

815.5

822.7

839.8

850.4

854.1

860.4

879.8

877.5

112.7
307.6
354 8

127.5
321.6
372 2

138.2
333.7
389 2

106.2
301.8
349 0

109.0
3C8.4
353.0

115.4
3C8.6
356 2

120.2
311.5
361 2

125.4
316.1
365 6

126.7
319.3
369 6

127.1
321.5
374.0

130.7
329.7
379 7

136.9
329.7
383.8

137.9
330.0
386.3

136.5
332.4
391.4

141.6
342.7
395.5

137.1
337.7
402.8

141.6

173.0

195.5

133.0

130.9

153.1

149.2

168.1

175.2

179.4

169.2

186.7

197.2

200.8

197.5

203.5

Fixed investment
Nonresidential
Residential.Change in business inventories.

do
do
do
do

151.5
112.7
38 8
-9.9

164.5
116.8
47 7
8.5

183.7
126.8
56 9
11.8

152.9
116.6
36.3
-20.0

148.9
112.0
36.9
-18.0

150.2
111.0
39 3
2.9

153.8
111.3
42.6
-4.6

158.4
113.7
44.8
9.7

163.1
115.9
47.1
12.1

165.6
118.5
47.1
13.8

171.0
119.0
52.0
-1.8

177.0
124.3
52.7
9.7

184.0
126.4
57.6
13.2

185.1
127. 6
57.5
15.7

188.7
128.9
59.9
8.7

189.7
130.6
59.1
13.8

Net exports cf goods and services

.do

22.5

16 0

9 5

20 5

24.5

22 7

22 3

16.8

16.4

17.0

13 8

10.6

9.4

12.2

5.9

3.4

274.0
103.3
170.7

277.0
104.2
172.8

274.4
101.7
172.6

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

263.0
96 7
166.3

264.4
96 5
167.9

271.1
101 4
169.7

259.4
96 0
163.4

262.3
96.5
165.8

'Revised,
P Preliminary.
tKevised series. Estimates of national income and product
and personal income have been revised back to 1973 (see p. 16ff.of the July 1977 SURVEY);




264.8
96.9
167.8

265.4
97.4
168.0

263.9
96.4
167.5

264.5
96.1
168.4

264.6
96.7
168.0

264.6
97.1
167.5

263.3
97.0
166.4

270.0
101.1
168.9

revisions prior to May 1976 for personal income appear on p. 28 of the July 1977 SURVEY.
9 Includes data for items not shown separately.

S-l

SUEVEY

S-2
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

1975

CUEEENT BUSINESS
1975

1977
II

Annual total

III

May 1978

1976
IV

I

II

1977
III

IV

I

1978

II

III

IV

l

II

'

GENERAL BUSINESS INDICATORS—Quarterly Series-—Continued
NATIONAL INCOME AND PRODUCTf—Con.
Quarterly Data Seasonally Adjusted
Implicit price deflators:t
Gross national product _
Index, 1972=100..
Personal consumption expenditures
do
Durable goods
do
Nondurable goods
.
.
-do..-Services
do
Gross private domestic investment:
Fixed investment
do
Nonresidential
do __
ResidentialGovt. purchases of goods and services
Federal
State and local

do
do
do

127.18
126.5
117.9
133.1
123.5

133.88
133.2
124.7
137.7
132.3

141.29
140.6
130.1
144.0
141.5

125.96
125.4
117.2
131.8
122.3

128.28
127.5
118.4
134.5
124.5

130.17
129.2
120.1
135.5
126.8

131.47
130.8
122.2
136.2
129.2

133.06
132.3
123.8
136.9
131.1

134.56
134.0
125.3
138.3
133.2

136.35
135.6
127.2
139.3
135.4

138.13
137.9
129.3
141.5
137.8

140.52
139.8
129.5
143.8
140.1

142.19
141.7
130.0
144.9
142.9

144.23
143.2
131.3
145.9
145.0

146.71
146.1
133.6
149.2
147.7

132.4
132.3
132.8

139.8
138.7
142.5

150.3
146.0
160.3

131.8
131.8
131.7

133.5
133.6
133.2

135.5
135.5
135.4

136.9
136.8
137.1

138.6
137.8
140.7

140.6
139.2
144.1

142.9
140.9
147.5

145.8
142.5
153.7

148.5
144.4
157.6

151.3
146.9
160.9

155.3
150.1
164.0

158.0
152.9
166.9

128.9
127.5
129.7

136.7
134.8
137.7

145.7
143.4
147.1

127.8
126.3
128.6

129.7
127.7
130.9

132.3
131.5
132.7

134.0
132.4
134.9

135.7
133.7
136.8

137.2
134.7
138.6

139.8
138.2
140.7

142.3
140.6
143.4

144.6
142.0
146.2

146.3
143.3
148.1

149.4
147.6
150.5

151.9
150.1
152.9

Quarterly Data Seasonally Adjusted at Annual Rates
National income, totalt

-

__bil. $

Compensation of employees, total
Wages and salaries, total
Govt. and govt. enterprises
Other
Supplements to wages and salaries

do
-do.--.
do
_do
do

1,217.0
930.3
805.7
175.4
630.3
124.6

1,364.1 1,520.5 1,191.4 1,244.9 1,275.7 1,321.0 1,353.9 1,379.6 1,402.1 1,450.2 1,505.7
1,036.3 1,156.3
891.8
990.0
187.2
199.9
704.7
790.1
144.5
166.3

914.4
792.4
173.7
618.6
122.1

936.7
810.5
176.9
633.5
126.3

965.6
834.9
181.2
653.8
130.7

1,540.5 1,585.7 1,609.9

999.6 1,024.9 1,046.5 1,074.2 1,109.9 1,144.7 1,167.4 1,203.3 1, 243.5
861.5
882.4 900.2
923.2
951.3
980.9
998.9 1,029.1 1,058.4
182.7
185.4
188.2
192.5
194.8
197.2
200.6 206.9
209.9
678.8
697.0 712.0
730.7
783.6
798.3 822.2
756.4
848.5
138.1
142.5
146.3
150.9
163.8
168.5
174.3
158.6
185.1

Proprietors' income with inventory valuation
and capital consumption adjustments,
total
bil. $ _
do
Farm
do
Nonfarm
Rental income of persons with capital consumption adjustment
bil. $

86.0
23.2
62.8

88.0
18.6
69.4

98.2
19.7
78.5

84.3
22.7
61.6

90.4
26.2
64.2

90.4
25.5
64.9

86.9
20.0
66.9

90.4
21.6
68.8

86.2
16.2
70.0

88.7
16.6
72.0

95.1
20.7
74.3

97.0
19.7
77.3

95.5
15.5
80.0

105.0
22.7
82.4

103.1
20.2
82.9

22.3

23.3

25.3

22.3

22.2

22.6

23.0

22.9

23.3

24.1

24.5

24.9

25.5

26.4

26.9

Corp. profits with inventory valuation and capital consumption adjustments, total
bil. $-Corp. profits with invent, val. adj.:
Domestic, total .
do
do
Financial
do
Nonfinancial, total 9
-do.-Manufacturing, total 9
do .
Durable goods
Transportation, communication, and
electric gas and sanitary serv
bil. $
do
Rest of the world

99.3

128.1

139.9

92.7

115.6

114.7

126.5

129.2

133.5

123.1

125.4

140.2

149.0

144.8

126.8

105.4
15.0
90.3
47.9
18.5

134.6
18.2
116.4
66.3
29.9

147.8
20.7
127.2
75.4
37.5

98.4
14.3
84.1
43.4
15.4

122.6
14.7
107.9
59.6
25.9

123.2
16.1
107.1
59.1
23.8

132.4
17.8
114.6
65.3
27.2

136.1
18.1
118.0
68.7
32.5

139.8
18.4
121.3
68.4
31.0

130.2
18.4
111.8
62.9
29.0

131.0
19.2
111.8
65.2
31.5

145.5
19.9
125.5
76.4
39.4

157.4
21.2
136.1
77.6
37.5

157.5
22.3
135.2
82.2
41.8

138.3
22.9
115.4

9.3
6.1

11.5

12.9

12.1

11.1

12.1

12.2

10.4

6.0

8.6

7.6

8.4

7.7

11.5
10.7

14.5

6.3

11.6
10.1

14.1

9.3

8.5
6.2

11.1

8.1

9.6

6.7

9.1

do
.do....
do
do

123.5
50.2
73.4
32.4
41.0

156.9
64.7
92.1
35.8
56.4

171.7
69.2
102.5
41.2
61.4

113.9
45.9
68.2
32.2
36.0

137.7
56.3
81.4
32.9
48.5

141.0
57.9
83.1
32.5
50.6

153.5
63.1
90.4
33.6
56.8

159.2
66.1
93.1
35.0
58.1

159.9
65.9
94.0
36.0
58.0

154.8
63.9
90.9
38.4
52.5

161.7
64.4
97.2
38.5
58.8

174.0
69.7
104.3
40.3
64.1

172.8
69.3
103.6
42.3
61.2

178.3
73.3
105.0
43.6
61.4

172.2
69.2
102.9
43.8
59.1

_do
dr>
do _

-12.0
-12.2
79.1

-14.1
-14.7
88.4

-14.6
-17.2
100.9

-9.3
-11.9
77.6

-8.8
-13.3
79.9

-11.8
-14.5
82.3

-12.4
-14.6
85.0

-15.5
-14.6
86.5

-11.7
-14.7
90.1

-16.9
-14.8
92.0

-20.6
15.5
95.3

-17.8
15.8
98.9

-5.9
-17.6
103.1

-14.1
-19.4
106.1

-24.8
-20.6
109.6

Profits before tax, total
Profits tax liability
Profits after tax
Dividends
Undistributed profits

.

Inventory valuation adjustment
Capital consumption adjustment
Net interest

DISPOSITION OF PERSONAL INCOMEt
Personal income, total
Less: Personal tax and nontax payments
Equals: Disposable personal income
Less: Personal outlays©...
Equals: Personal saving!

bil. $
do
do
.do
do

1,253.4
169.0
1,084.4
1,004.2
80.2

1,382.7 1,536.7 1,234.7 1,269.7 1,304.0 1,338.1 1,366.7 1,393.9 1,432.2 1,476.8 1,517.2 1,549.8 1,603.0 1,638.8
142.5
173.9
179.9
184.8
192.6 200.6
209.5
236.7
234.7
196.9
227.5
224.8
226.1
224.4
1,185.8 1,309.2 1,092.2 1,095.7 1,124.1 1,153. 3 1,174.1 1,193. 3 1,222.6 1,252.4 1,292.5 1,323.8 1,368.3 1,402.1
1,119.9 1,241.9
989.1 1,019.1 1,048.6 1,080.9 1,103.8 1,128.5 1,166.3 1,201.0 1,223.9 1,250.5 1,292.2 1,315.9
65.9
67.3
103.1
76.7
75.5
72.4
70.3
64.8
56.3
51.4
68.5
73.3
76.1
86.2

NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted Quarterly or annual totals:
All industries
Manufacturing
Durable goods industries'!!
Nondurable gcods industries^
Nonrr anufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication
Commercial and other
Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
Durable goods industriesif
Nondurable goods industriesif
Nonm anufacturing
Mining . . .
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other...
Communication
Commercial and other
r

120.49
52.48
23.68
28.81

135.80
60.16
27.77
32.39

28.43
12.15
5.59
6.55

27.79
11.67
5.16
6.51

30.74
13.30
5.99
7.30

25.87
10.96
4.78
6.18

29.70
12.66
5.61
7.05

30.41
13.48
6.02
7.46

34.52
15.38
7.27
8.12

29.20
12.52
5.80
6.72

33.73
14.84
6.79
8.06

34.82
15.60
7.17
8.43

38.06
17.19
8.00
9.18

do
do.
do
do.
.do..

64.82
3.79
2.55
1.84
3.18

68.01
4.00
2.52
1.30
3.63

75.64
4.50
2.80
1.62
2.51

16.28

16.12

17.44

14.91

.94
.62
.50

.97
.62
.43

.92
.49
.26

17.04

.97
.71
.47

16.93
1.04

19.14
1.05

16.68
1.02

19 21
1.17

20.87
1.15

18.84
1.26

.70
.35

18.88
1.16

.59
.33

.67
.43

.73

.89
.62

.77

.85

.93

.72

1.02

.95

.94

.61

.78
.39

.76
.46

21.08
1.32

.64
.26

.76

.50

.63

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

20.14
17.00
3.14
12.74
20.60

22.28
18.80
3.47
13.30
20.99

25.80
21.59
4.41
15.45
22.97

4.94
4.15

5.07
4.16

5.70
4.85

4.79
4.18

5.50
4.74

5.52
4.54

5.55
4.78
3.30
5.27

6.37
5.34
1.03
3.86
5.64

6.61
5.41
1.20
4.03
5.73

7.28
6.06
1.21
4.26
6.33

.99
.68
.42

.50
.49

.58

.79

.91

.85

.62

.76

.98

3.22
5.19

3.14
5.00

3.26
5.52

2.92
4.82

3.21
5.21

3.33
5.19

6.46
5.34
1.12
3.84
5.78

do..
do
do
do

112.46
48.78
22.59
26.19

112.16
47.39
21.01
26.38

111.80
46.82
21.07
25.75

114. 72
49.21
21.63
27.58

118.12
50.64
22.54
28.09

122.55
54.78
24.59
30.20

125.22
54.44
25.50
28.93

130.16
56.43
26.30
30.13

134.24
59.46
27.26
32.19

140.38
63.02
29.23
33.79

do
do
do
do
do

63.68
3.78
2.70
1.60
2.75

64.76
3.82
2.75
2.12
2.99

64.98
3.82
2.39
1.65
3.56

65.51
3.83
2.08
1.18
3.29

67.48
3.83
2.64
1.44
4.16

67.76
4.21
2.69
1.12
3.44

70.78
4.13
2.63
1.41
3.49

73.74
4.24
2.71
1.62
2.96

74.78
4.49
2.57
1.43
2.96

77.36
4.74
3 20
1.69
1.96

76.70
4.50
2.80
1.76
2.32

83.25
5.24
3.38
2.42
2.32

83.34
5.13
3.37
2.04
2.22

19.52
16.41
3.11
12.50
20.83

19.79
16.58
3.21
12.95
20.34

20.91
17.92
3.00
12.22
20.44

21.91
18.56
3.36
12.54
20.68

21.85
18.82
3.03
12.62
20; 94

21.67
18.22
3.45
13.64
20.99

23.46
19.49
3.96
14.30
21.36

25.35
21.19
4.16
14.19
22.67

25.29
21.14
4.16
15.32
22.73

26.22
21.90
4.32
16 40
23.14

26.23
22.05
4.18
15.82
23.27

28.69
23.70
4.99

28.62
23.99
4.63

do
do
do
do
..do....

Revised.
J» Preliminary.
* Estimates (corrected for systematic biases) for Jan.Mar. 1978 and Apr.-June 1978 based on expected capital expenditures of business. Expected
2
expenditures for the year 1978 appear on p. 24 of the Mar. 1978 SURVEY.
Includes communication.
fSee corresponding note on p. S-l.
9 Includes data for items not shown
separately.
©Personal outlays comprise personal consumption expenditures, interest paid




132.84 i 37.52
14.00
16.43
6.60
7.71
7.40
8.72

112.78
47.95
21.84
26.11

bil. $ .
.do
do
.do

.77

6.27
5.35
.92

7.21
6.06
1.15

2 9.60 2 10.46

138.11 • 146.25 1149.16
61.41
63.00
65.82
28.19
29.81
31.01
33.22
33.18
34.81

2

41. 21

2

41.94

by consumers to business, and personal transfer payments to foreigners (net).
§ Personal saving is excess of disposable income over personal outlays.
"jfData 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