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SURVEY OF CUREENT BUSINESS

14

February 1973

NATIONAL INCOME AND PRODUCT TABLES
1972

1971
1971

1972

III

IV

I

II

1972

1971
III

IV

1971

1972

III

Seasonally adjusted at annual rates

IV

I

II

III

IV

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)
1,050.4 1,151.8 1,056.9 1,078.1 1,109.1 1,139.4 1,164.0 1,194.9

Gross national product

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

754.5

766.5

783.9

796.1

811.6

680.5

696.1

713.4

728.6

745.7

495.4

524.6

497.4

503.2

511.0

520.9

528.7

537.8

116.1
299.5
305.4

106.1
278.5
286.1

106.1
283.4
290.9

111.0
288.3
296.7

113.9
297.2
302.4

118.6
302.0
308.0

120.8
310.4
314.5

92.1
211.1
192.2

102.8
220.5
201.3

94.2
210.5
192.8

95.4
212.8
195.0

214.7
197.7

100.7
220 1
200.0

104.5
221.9
202.3

107.4
225.4
205.0

152.0
148.3
105.8
38.4
67.4

180.4
174.5

158.8
157.2

168.1
167.7
116.1
41.3
74.8

177.0

193.4
183.1
126.1
43.7
82.3

124.0
119.4

79.2
22.2
57.0

125.5
119.3
84.2
22.6
61.6

132.0
124.0

84.4
22.9
61.4

116.6
116.3
82.2
23.0
59.2

122.0
118.0

76.8
22.8
54.0

107.3
106.6
76.4
22.5
53.9

112.0
111.3

119.2
42.0
77.2

183.2
175.2
120.7
41.8
79.0

108.6
105.9

120.6
42.2
78.3

152.2
150.9
106.3
38.7
67.6

54.0
53.2
.7

44.5
43.9
.7

47.3
46.7

51.6
51.0
.6

52.8
52.1

54.4
53.7

57.0
56.1

29.1
28.7
.4

35.0
34.5
.5

30.1
29.7
.5

32.1
31.7
.4

34.2
33.8
.4

34.4
34.0
.4

35.1
34.6
.5

36.4
35.8

3.6
2.4
1.2

5.9
5.6
.3

1.3
-.2
1.6

1.7
.8

.4
.1
.3

5.0
4.3
.7

8.0
7.9
.1

10.3
10.1
.2

2.6
1.6
1.1

4.6
4.3
.3

.7
-.6
1.3

.7
-.1
.8

.3
-.1

3.9
3.4
.5

6.2
6.2
.1

8.0
7.8
.2

.7

-4.2

.4

-2.1

-4.6

-5.2

-3.4

-3.5

.1

-1.9

.1

-1.8

-3.3

-2.8

-.7

66.1
65.4

68.5
68.2

63.0
65.1

70.7
75.3

70.0
75.2

74.4
77.8

79.6
83.1

52.6
52.5

56.8
58.7

54.4
54.3

49.9
51.7

57.2

233.6

240.9

249.4

254.1

255.6

259.3

137.6

142.8

137.6

141.1

55.5
58.9
142.2

54.2
57.0

232.8

73.7
77.9
254.6

143.9

105.8
75.9
29.9

97.9
70.1
27.8

100.7
71.9
28.7

105.7
76.7
28.9

108.1
78.6
29.6

105.4
75.1
30.2

104.0
73.2

60.8

61.6

61.0

62.3

62.8

63.7

135.0

Nonresidential
Structures
Producers' durable equipment..

742.5

670.7

97.8
71.4
26.3

Gross private domestic investment..
Fixed investment

789.5

721.0

42.6
42.0

Durable goods
Nondurable goods..
Services

741.7

664.9
103.5
278.1
283.3

Personal consumption expenditures..

148.8

135.7

140.2

143.7

146.0

150.2

155.2

76.8

81.3

76.7

78.8

79.4

80.3

109.8
38.8
71.0

172.0

83.6
23.0

57.9
142.6
60.8
81.8

87.6
23.1
64.4

60.3
61.1
142.7
59.0

83.6

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

1,050.4 1,151.8 1,056.9 1,078.1 1,109.1 1,139.4 1,164.0 1,194.9

741.7

789.5

742.5

754.5

766.5

783.9

796.1

811.6

Final sales
Change in business inventories.
Goods output..

1,046.7 1,145.9 1,055.6 1,076.4 1,108. 6 1,134.4 1,156. 0 1,184.6
3.6
1.3
8.0
5.9
1.7
.4
5.0
10.3

739.1
2.6

784.9
4.6

753.8
.7
400.4

766.3
.3

780.0
3.9

789.8
6.2

803.6
8.0

Change in business inventoriesDurable goods
Final sales

,.
.__

Change in business inventoriesNondurable goods
Final sales
Services--.
Change in business inventories.
Structures.

495.5

542.6

497.5

504.8

517.6

537.1

550.4

565.1

393.8

423.7

407.0

420.7

428.7

438.3

491.8
3.6

536.6
5.9

496.2
1.3

503.1
1.7

517.2
.4

532.1
5.0

542.4
8.0

554.8
10.3

391.2
2.6

419.1
4.6

393.7
.7

399.7
.7

406.8
.3

416.7
3.9

422.5
6.2

430.3
8.0

195.7
194.6
1.1

Final sales

741.7
.7
394.5

222.5
217.3
5.2

196.7
197.7
-1.0

198.2
200.1
-1.9

209.2
208.8
.4

217.6
214.6
3.0

226.1
220.7
5.4

237.0
225.1
11.9

164.5
163.8
.6

185.5
181.6
4.0

164.9
166.0
-1.1

167.4
169.5
-2.1

175.0
174.8
.3

181.4
179.1
2.3

187.9
183.8
4.1

197.8
188.6
9.2

299.8
297.3
2.5

320.1
319.3
.8

300.8
298.5
2.3

306.6
303.0
3.5

308.4
308.4
.0

319.6
317.5
2.1

324.3
321.7
2.6

328.1
329.7
-1.6

229.4
227.3
2.0

238.1
237.5
.6

229.5
227.7
1.9

233.0
230.2
2.8

232.0
232.0
.0

239.2
237.6
1.6

240.9
238.7
2.2

240.5
241.7
-1.2

443.9

482.3

446.7

456.3

467.3

477.3

487.3

497.3

278.4

291.1

278.4

282.3

285.2

289.3

293.2

296.7

111.0

127.0

112.7

117.0

124.2

125.0

126.3

132.5

69.5

74.7

69.6

71.8

74.3

74.0

74.1

76.5

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product..
Private
Business
Nonfarm.
Farm
Households and institutions..
Eest of the world
General government—

1,050.4 1,151.8 1,056.9 1,078.1 1,109.1 1,139.4 1,164.0 1,194.9

741.7

789.5

742.5

754.5

766.5

783.9

796.1

811.6

681.0

728.1

681.7

693.7

705.6

723.0

734.5

749.4

658.5
633.0
25.5

704.8
681.5
23.4

659.8
633.9
25.9

669.8
644.8
25.0

682.9
659.2
23.8

700.1
676.4
23.8

710.8
688.4
22.4

725.5
701.9
23.6

39.4

16.9

17.9

16.9

17.1

17.4

17.7

18.2

18.2

7.8

5.6

5.5

5.0

6.8

5.4

5.2

5.6

5.7

140.2

60.7

61.4

60.8

60.8

60.9

60.9

61.6

62.1

925.6 1,015.7

931.4

950.2

976.6 1,005.0 1,026.6 1,054.7

884.7
853.9
30.9

970.6
937.1
33.4

890.9
859.6
31.2

906.6
874.5
32.1

933.7
901.8
31.9

960.8
928.2
32.6

33.9

37.8

34.3

35.1

36.0

37.3

38.6

6.9

7.3

6.2

8.5

6.8

6.9

7.6

124.8

136.1

125.5

127.9

132.5

134.4

137.4

980.4 1,007.4
947.4
971.2
33.0
36.3

HISTORICAL STATISTICS
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 Field Offices or the Superintendent of Documents; see addresses inside
front cover). Each July SURVEY contains preliminary data for the latest 2 years and final data for the preceding 2. The July 1972 issue has
data for 1968-71. BEA will provide on request a reprint of final data for the years 1964-67. Prior July issues have final data as follows:
1964-65, July 1968; 1965-66, July 1969; 1966-67, July 1970; 1967-68, July 1971.



CURRENT BUSINESS STATISTICS

J.HE STATISTICS here update series published in the 1971 edition of BUSINESS STATISTICS, biennial statistical supplement to the SUEVEY
That volume (available from the Superintendent of Documents for $3.00) provides a description of each series, references
to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1967 through 1970 (1960-70 for major quarterly
series), annually, 1947-70; for selected series, monthly or quarterly, 1947-70 (where available). Series added or significantly revised after the 1971
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 1970 issued too late for
inclusion in the 1971 volume appear in the monthly SURVEY beginning with the September 1971 issue. Also, unless otherwise noted, revised monthly
data for periods not shown herein corresponding to revised annual data are available upon request.
The sources of the data are given in the 1971 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 189-90. Statistics originating in Government agencies are not copyrighted and may be reprinted freely.
Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights.
OF CURRENT BUSINESS.

1969
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of BUSINESS STATISTICS

1971

1970

1969

IV

1971

1970

I

II

|

III

IV

I

|

II

1972
III

| IV

I

II

IV i

III

Annual total
Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series

J

NATIONAL INCOME AND PRODUCT!
Gross national product, total!
Personal consumption expenditures, total

bil.$.

930.3

976.4

1,050.4

948.9

958.0

971.7

986.3

989.7

do.__

579.5

616.8

664.9

594.4

604.1

613.4

623.0

626.5

648.0

660.4

670.7

680.5

696.1

713.4

728.6

r

1,023.4 1,043.0 1,056.9 1,078.1 1,109.1 1,139.4

3,164.0

1,194.9
745. 7

Durable goods, total?
Automobiles and parts
Furniture and household equipment

do.
do.
do.

90.8
40.2
37.1

90.5
37.3
39.0

103.5
46.7
42.0

91.4
40.6
37.5

90.2
37.8
38.7

91.6
39.2
38.8

92.6
39.4
38.8

87.5
33.0
39.6

99.8
44.9
41.0

101.9
45.4
41.4

106.1
48.8
41.9

106.1
47.9
43.5

111.0
49.9
46.5

113.9
51.3
46.8

118.6
54.8
47.9

" 120. 8
" 55. 2
" 49. 1

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

do
do
do
do

245.9
50.2
120.6
20.9

264.4
52.0
132.1
22.2

278.1
56.9
136.4
23.5

251.1
51.1
122.6
21.5

257.8
51.1
128.0
21.8

262.4
51.8
131.2
22.0

266.3
51.7
133.9
22.3

271.3
53.6
135.2
22.8

273.4
55.1
135.1
23.0

277.2
56.7
135.9
23.0

278.5
57.4
136.6
23.5

283.4
58.5
137.9
24.3

288.3
59.4
140.3
24.6

297.2
61.5
144.1
24.5

302.0
62.6
145.8
25.4

310.4
" 64. 5
" 148. o
"26.3

Services, total?
Household operation._.
Housing
Transportation

do_
do..
do..
do_.

242.7
33.8
84.1
16.6

261.8
36.3
90.9
18.2

283.3
39.5
99.2
19.9

251.9
35.1
87.2
17.1

256.1
35.3
88.7
17.7

259.4
35.9
90.1
18.0

264.1
36.9
91.4
18.5

267.7
37.2
93.4
18.8

274.8
38.0
95.8
19.3

281.3
39.1
98.1
19.8

286.1
40.0
100.3
20.2

290.9
40.7
102.5
20.4

296.7
41.2
104.2
21.0

302.4
42.7
106.1
21.5

308.0
44.0
108.1
21.9

" 314. 5
'45.1
110.2
22.4

139.0

137.1

152.0

137.9

132.9

137.7

139.9

137.8

143.9

153.0

152.2

158.8

168.1

177.0

183.2

" 193.4

132.2
100.9
36.0
64.9
31.2
30.7
4.9
4.8

148.3
105.8
38.4
67.4
42.6
42.0
3.6
2.4

132.3
101.4
35.8
65.7
30.9
30.5
5.5
5.4

131.4
100.2
35.5
64.8
31.2
30.6
1.5
1.4

131.4
101.7
36.1
65.6
29.7
29.4
6.3
6.2

133.7
103.4
36.2
67.2
30.3
29.9
6.2
6.1

132.1
98.5
36.3
62.1
33.6
33.0
5.7
5.6

139.0
101.9
37.6
64.3
37.0
36.6
4.9
3.9

146.4
105.0
38.3
66.7
41.4
40.9
6.6
5.1

150.9
106.3
38.7
67.6
44.5
43.9
1.3
#2

157.2
109.8
38.8
71.0
47.3
46.7
1.7
.8

167.7
116.1
41.3
74.8
51.6
51.0
.4
.1

172.0
119.2
42.0
77.2
52.8
52.1
5.0
4.3

175.2
120.7
41.8
79.0
54.4
53.7
8.0
7.9

" 183. 1
" 126. 1
'43. 7
" 82. 3
r
57. 0
" 56. 1
'10.3
M0.1

3.6
62.9
59.3

.7
66.1
65.4

2.7
59.2
56.5

3.6
61.5
57.9

3.9
63.0
59.2

4.0
63.7
59.8

2.8
63.2
60.4

4.5
66.3
61.8

.1
66.7
66.6

.4
68.5
68.2

-2.1
63.0
65.1

-4.6
70.7
75.3

—5.2
70.0
75.2

-3.4
74.4
77.8

" -3.5
" 79.6
'83.1

227.0
96.2
72.5
130.8

229.5
96.3
71.2
133.3

233.6
97.9
70.1
135.7

240.9
100.7
71.9
140.2

249.4
105.7
76.7
143.7

254.1
108.1
78.6
146.0

255.6
105.4
75.1
150.2

" 259. 3
" 104. 0
" 73. 2
" 155. 2

1,156.0
542.4
220.7
321.7
487.3
126.3

L,184.6
• 554. 8
• 225. 1
• 329. 7
' 407. 3
132. 5

5.0
3.0
2.1

8.0
5.4
2.6

" 10.3
11.9
-1. 6

Gross private domestic investment, total
Fixed investment
Nonresident ial
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
do

131.1
98.5
| 34.2
I 64.3
32.
32.0
7.8
7.7
1.9
55.5
53.6

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

210.0
98.8
78.4
111.2

219.0
96.5
75.1
122.5

232.8
97.8
71.4
135.0

214.0
99.4
78.9
114.6

217.3
99.7
78.9
117.6

216.7
96.2
74.7
120.5

219.5
95.2
73.8
124.3

222.6
95.0
72.9
127.6

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

922.5
449.7
182.3
267.4
377.9
94.9

971.5
467.0
183.0
284.0
409.2
95.4

1,046.7
491.8
194.6
297.3
443.9
111.0

943.4
458.0
184.7
273.3
391.9
93.4

956.4
462.3
184.4
277.8
400.6
93.5

965.5
467.3
185.2
282.1
405.1
93.1

980.2
472.7
187.4
285.2
412.2
95.3

984.1
465.6
174.8
290.7
418.7
99.8

7.8
5.0
2.8

4.9
1.9
3.0

3.6
1.1
2. 5

5.5
3.7
1.9

1.5
1.0
.5

6.3
1.6
4.7

6.2
6.0
.2

5.7
-.9
6.6

Change in business inventories
Durable goods
Nondurable goods

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

1,018.5 1,036.4 1,055.6 1,076.4 1,108.6 1,134.4
517.2
532.1
496.2
503.1
482.2
485.8
214.6
208.8
197.7
200.1
189.6
191.0
317.5
308.4
298.5
303.0
292.6
294.8
477.3
467.3
446.7
456.3
431.3
441.1
125.0
124.2
112.7
117.0
105.0
109.5
4.9
3.7
1.2

6.6
3.6
3.1

1.3
-1.0
2.3

1.7
-1.9
3.5

.4
.4
.0

GNP in constant (1958) dollars!
Gross national product, total!
Personal consumption expenditures, total
Durable goods
Nondurable goods.
Services
Gross private domestic investment, total
Fixed investment
Nonresidential
Residential structures
Change in business inventories
Net exports of goods and services

bil. $__| 725.6

722.1

741.7

725.1

720.4

723. 2

726.8

718.0

731.9

737.9

742.5

754.5

766.5

783.9

796.1

•811.6

do..

469.1

477.0

495.4

472.2

474. 1

476. 9

480.2

476.5

488.2

493.0

497.4

503.2

511.0

520.9

528.7

• 537. 8

I 85.6
201.3
182.2

83.1
207.0
186.8

92.1
211.1
192.2

85.4
201.5
185.2

83 8
204. 4
185. 9

84. 7
206. 0
186. 2

84.9
207.7
187.6

78.9
209.9
187.8

88.8
210.0
189.3

90.0
211.2
191.8

94.2
210.5
192.8

95.4
212.8
195.0

98.6
214.7
197.7

100.7
220.1
200.0

104.5
221.9
202.3

107. 4
• 225. 4
205. 0

104.0

108.6

107.4

102.0

105.6

105.0

110.0

107.3

112.0

116.6

122.0

125.5

132. 0

102.8
80.9
21.9
4.6

101.0
78.8
22.2
.9

100.0
78.9
21.1
5.6

106.2 I
|
101.3 |
79.3 I
22.0 I
4.9 |

102.2

105.9
76.8
29.1
2.6

97.4
73.6
23.9
4.8

101.2
75.3
25.9
3.8

104.7
76.4
28.3
5.3

106.6
76.4
30.1
.7

111.3
79.2
32.1
.7

116.3
82 2
34.2
.3

118.0
83.6
34.4
3.9

119.3
84.2
35.1
6.2

' 124. 0
' 87. 6
"36.4
'8.0

.1

.8

1.9

2.0

2.9 i

1.9

2.7

.1

-1.8

-3.3

—2.8

-.7

' —. 9

do
do
do
do

110.5

do
do
do
do

I 103.8
! 80.1
\ 23.7
! 6.7

do..

99.9
77.6
22.3
4.1

Govt. purchases of goods and services, total..do
145.9
139.0
137.6
144.6
142.4
Federal
_
do
73.5
64.7
60.8
69.0
71.5
State and local
do
72.4 | 74.3
76.8
73.5
73.1
r
l
Revised.
v Preliminary.
Annual totals for 1972 for components shown in this
column appear on pp. 14-17 of this issue of the SURVEY.
!Revised series. Estimates of
national income and product and personal income have been revised back to 1969 (see p. 16 ff.




-.7

142. 7
142.6
143.9
142.2
137.6
138.6 | 137.5 i 137.3
136.1
141.1
135.7
" 5!). 0
60.8
63.7
62.8
64.8
62.9 ! 62.1
61.0
62.3
60.2
59.7
80.3 1 81.8 "83.6
79.4
73.8
74.6 I 75.1
78.8
75.9
76.0
76.7
of the July 1972 SURVEY); revisions prior to May 1971 for personal income appear on pp. 25-26
of the July 1972 SURVEY.

9 Includes data not shown separately.

s-1

SURVEY OF CURRENT BUSINESS

S-2
Unless otherwise stated in footnotes below, data
through 1970 and descriptive notes are as shown in
the 1971 edition of B U S I N E S S STATISTICS

1969

1970

1970

1971
I

Annual total

February 1973

II

1971
III

IV

I

II

1972
III

IV

I

II

903.1

922.1

1973
III

IV 3

I

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL I N C O M E A N D PRODUCT—Con.
Quarterly Data Seasonally Adjusted at Annual

Rates
bil. $ . .

766.0

798.6

855.7

787.5

796.7

806.3

834.5

851.4

860.8

876.2

Compensation of employees, totalt

do..

566.0

603.8

644.1

594.3

600.7

609.0

611.2

628.6

639.6

648.0

660.4

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

do
do
do
do
do
do
do
do
do

509.7
405.6
19.0
85.1
56.3
67.2
50.5
16.7
22.6

541.9
426.8
19.6
95.5
61.9
66.8
49. 9
16.9
23.3

573.5
449.7
19.4
104.4
70.7
70.0
52.6
17.3
24.5

534.9
422.5
20.2
92.2
59.5
67.7
49.7
18.0
23.0

539. 5
425.1
19.6
94.7
61.2
67.1
50.0
17. 1
23.2

546.1
430.0
19.4
96.7
62.8
66.6
50.1
16.5
23.4

547.2
429.7
19.0
98. 5
63.9
65.8
49. 9
15.9
23.8

560.4
439.3
19.8

569.6
576.5
587.3
606.6
447. 0 451. 6
460 9 475.8
19.4 18.8 19.4
20.8

68.2
68. 1
51.3
16.8
23.9

70.0
69.3
52.4
16.9
24.4

71.5
70.7
53.1
17.6
24.8

79.8

69.9

78.6

69.3

71.5

72.0

66.9

76.6

80.1

12.4
67.4
36.6
17.7
18.8

14.5
55.4
27.7
16.7
11.0

16.7
61.9
30.9
16.8
14.1

12.8
56.5
29. 4
16.4
13.1

14.0
57.5
29.9
17.0
13.0

15.0
57.0
28.9
17.2
11.7

16.1
50.8
22. 6
16.4
6.2

16.6
59. 9
30.9
16.6
14.3

10.1
20.7

7.6
20.1

8.2
22.9

8.0
19.1

7.4
20.1

7.8
20.3

7.2
20.9

84.9
40.1
44.8
24.3
20.5
-5.1
30.5

74.3
34.1
40.2
24.8
15.4
-4.4
34.8

83.3
37.3
45. 9,
25.4
20.5
-4.7
38.5

75.8
34.3
41.4
24.8
16.6
-6.4
33.2

75.2
34.6
40.6
24.7
15.8
-3.7
34.2

76.6
35.4
41.2
24. 9
16.3
-4.6
35.3

69.6
32.2
37.4
24.7
12.7
-2.8
36.5

25. 5
17.7
-4.7
37.3

25. 4
25. 5
20.4 21.0
-4.4 -5.8
38.1 39.1

750.9
116.5
634.4
596. 2
38.2

806.3
116.7
689. 5
634.7
54.9

861.4
117.0
744.4
683.4
60.9

785.7
117.8
667. 9
621.6
46.3

806.1
119. 0
687. 2
631. 2
55.9

813.4
114.3
699. 1
641.1
58.0

819.8
115.8
704.0
644.8
59. 2

838.0
112.3
725.7
666.4
59.3

858.1
115.2
742.9
678.8
64.1

75.56
31.68
15.96
15.72

79.71
31.95
15.80
16.15

81.21
29. 99
14.15
15.84

17.47
7.14
3.59
3.56

20.33
8.15
4.08
4.07

20.26
7.99
3.87
4.12

21.66
8.66
4.26
4.40

6.69
3.11
3.58

43.88
1.86
1.86
2.51
1.68
11.61
8.94
2.67
8.30
16.05

47.76

51. 22
2.16
1.67
1.88
1.38

10.32
.45
.42
.73
.28
2.54
2.15
.39
2.14
3.76

12.18
.47
.47
.80
.31

12.27

3.28
2.59
.69
2.59
4.26

3.58
2.79
.78
2.56
4.16

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

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

do.
do.
do.
do.

78.22
32.44
16.40
16.05

80.22
32.43
16.32
16.11

81.88
32.15
15.74
16.40

78.63
30. 98
14. 92
16.05

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

45.78
1.92
1.74
2.94
1.37
12.14
9.7'
2.37
9.14
16.52

47.79
1.84
1.88
2.88
1.12

47.66
1.94
1.56
3.08
1.22

12.72
10.15
2.57
10.38
16. 98

49.73
1.86
1.96
3.24
1.22
13.84
11.34
2.50
10.62
17.00

15,375
10,231

15,762
10,565

15,932
10,705

15,805
10,462

1,478

66,133
42, 770
1,922

441

329

436

11,426
8,004

12,898
8,543

2, 936
1, 935

2, 779
1, 977

2,863
2,035

2,850
2, 057

National income, totalf

Corporate profits and inventory valuation adjustment, total
bil. $_By broad industry groups:
Financial institutions
do
Nonfinancial corporations, total
do
Manufacturing, total
do
Nondurable goods industries
do
Durable goods industries
do
Transportation, communication, and public
utilities
bil. $_.
All other industries
do
Corporate profits before tax, total
do..
Corporate profits tax liability
do_.
Corporate profits after tax
do..
Dividends
do.
Undistributed profits
do_
Inventory valuation adjustment
do_.
Net interest
do_.
DISPOSITION OF P E R S O N A L I N C O M E f
Quarterly Data Seasonally Adjusted at Annual

Nonmanufacturing
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 industries 1
Nondurable goods industries 1
Nonmanufacturing.
Mining
Railroad
Air transportation
Other transportation
Public utilities
E lectric
Gas and other
Communication
Commercial and other
U.S.

710.2

110.0
76.1
73.3
54.3
19.1
25.2

620.0
487.1
20. 5
112.4
77.8
73.2
54.4
18.7
24.2

630. 6 • 648. 8
J94.8
510.0
20.4
20.6
115.4
118.1
79. 6
81.5
75.3
79.0
56.2
57.4
19. 1
21.6
26. 2
26.9

78.3 79.4

81.8

86.1

89.6

16.4
63. 7
31.2
16.8
14.4

17.0 16.6
61. 3
62 7
30.1 31*2
16.9 16 9
13.3 14.3

16.5
65.2
35.4
17.7
17.7

17.5
68.5
37.0
17.6
19.4

18.3
71.3
37.9
19.5
18.4

7.8
21.2

8.8
23.7

8.5
22.6

7 6
23.9

7.8
22.0

22.8

9.6
23.8

81.3
38.0
43.2

84.5
38.6
45.8

84.1
37.5
46.6

83 2
35 3
48 0

88.2
38.8
49.5
25 2 26.0
22 7
23.5
- 3 . 9- 6 . 5
39 7
40.1

91.6
40.1
51.5
26.2
25.3
-5.5
40.9

95.7
41.8
53. 9
26.5
27.3
-6.1
41.7

101.3

103.3

106.0

107.0

73.0
71
53.8
18 1
25.0

730. 3

26.7
-5.9
42.5

Ratei

Personal income, total
bil. $ . .
Less: Personal tax and nontax p a y m e n t s
do
Equals: Disposable personal income
do
Less: Personal outlays©
do
Equals: Personal saving§
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
Manufacturing
Durable goods industries 1
Nondurable goods industries 1

943. 0

697.8

bil. $..
do
do
do
do.
do .
do.
do.
do_
do.
do.
do.
do.
..do.

1.89
1.78
3.03
1.23
13.14
10.65
2.49
10.10
16.59

15.30
12.86
2.44
10.77
18.05

.46
.46
.74
.30

13.68
11.20
2.48
10.20
15.97

867.9
117.5
750.4
689.4
61.0

881 5
123 0
758*5
699 2
59^3

907. 0
136.5
770.5
714. 9
55.7

922.1
139. 5
782.6
732.5
50.1

939. 9 974. 6
141. i • 146. 4
798. 8 ' 828. 2
748.0
765. 5
50.8 r 62. 8

20.60
20.14 22 79
7.55 7.31 8*44
3.52 3.40 4 12
4.03 3.91
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

i 25.30
9.19
4.65
4.54

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

12.83
14.35
12.77
.58
.55
-^
45
.48
.42
-56
.50
.39
.32
.37 -37
4
9
3.63
4.07 3 -3.19
3.35 -60
.44
.71 -69
2.62 2 -84
2 72
4.42 5.26
X. 55

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

14.12
.59
.38
,61
.35

16.11
.67
.47
.69
.35

4.39
3.67

4.85
4.07

79.32
30.46
14.21
16.25

81.61
30.12
14.06
16.06

80.75
29.19
13.76
15.43

83.18
30.35
14.61
15.74

86.79
30.09
15.06
15.02

87.12
30.37
14.77
15.60

87.67
30.98
15.67
15.31

i 92.36
32.96
16.44
16.52

48.86
2.04
1.46
1.29
1.33
14.64
12.16
2.48
10.70
17.39

51.50
2.08
1.88
2.28
1 40
14.91
12.61
2.30
11.21
17.72

51.56
2.23
1.72
1.68
1.48
15.87
13.56
2.30
10.73
17.85

52.82
2.30
1.64
2.26
1.33
15.74
13.01
2.74
10.44
19.10

56.70
2.42
2.10
1.96
1.48

56.75
2.38
1.88
2.89
1.53
16.60
14.32
2.27
11.59
19.88

56.70
2.40
1.50
2.67
1.41

59.40
2.61
1.70
2.57
1.28
17.94
14.89
3.05

16.92
14.27
2.65
11.71
20.10

. 72
.78
2.84
4.97 2 9. 08

17.01
14.62
2.38
11.56
20.16

2 33.30

BALANCE OF INTERNATIONAL
PAYMENTS^1
Quarterly Data Are Seasonally Adjusted
(Credits + ; debits —)

Exports of goods and services (excl. transfers under
military grants)
mil. $._ 55,502
36,417
Merchandise, adjusted, excl. military
do
Transfers under U . S . military agency sales contracts
mil. $_. 1,512
Receipts
of income on U.S.
investments
abroad
mil. $ . . 10,539
7,034
0 t h e r services
do
Imports of goods and services
do
Merchandise, adjusted, excl. military
do
Direct defense expenditures
do
P a y m e n t s of income on foreign investments in the
U.S
mil. $ . .
Other services
do,
Balance on goods and services, total
Merchandise, adjusted, excl. military
r

do
do

62,870
41,963

16,675

17,133

15,748

11,017

10,710

11,479

9,551

516

474

423

r

17, 745
11,792
334

,307 *>18, 377
r
,460 12, 311 '13, 275
281

3,421
3, 249
3,297
3,015
3,651
2,371
2, 399
2,152 2,165
2,110
-18,933 -18,908 p-19,273
-16,639 -17,042 -16,285
-13,896
-11,722 -11,951 -11,058 '-13,481 -13,390 '-1,080 '-14,892
-1,214 -1,198 -1,230 -1,218 - 1 , 239

2,937
2,116
-59,307 -65,406 -14,477 -14, 795 -14,943 -15, 093 15,444
-39, 799 -45,459 - 9 , 731 -9,831 - 9 , 968 -10, 269 10,728
-4,852 -4,816 -1,180 -1,259 -1,210 -1,203 -1,175
-4,564
-5,167 - 4 , 903 -1,344 — 1 322 -1,284 -1,217 -1,139 -1,106 -1,304 -1,356
-9,491 -10,227 —2 222 -2, 383 -2,481 - 2 , 404 -2,402 -2,597 -2,589 -2,641
-8,376
1,911
989
3,563
898
967
712
1,136
36
91 - 5 3 7
621
734 1
737
500
193
2,164 - 2 , 689
289 -1,012
- 4 7 2 -1,494

-53,591
-35, 796
-4,856

Revised.
v Preliminary.
i Estimates (corrected for systematic biases) for Oct. Dec. 1972 and Jan.-Mar. 1973 based on expected capital expenditures of business. Expected
expenditures for the year 1972 appear on p. 19 of the Dec. 1972 SURVEY.
2 includes com3
1
Digitized for niunication.
FRASER
See'note on p. S-l.
t See corresponding note on p . S-l.
9 Includes
inventory valuation adjustment.
© Personal outlays comprise personal consumption exhttp://fraser.stlouisfed.org/

Federal Reserve Bank of St. Louis

16,580

-1,387 -1,417 '-1,497
-2,850 - 2 , 859 '-2,801
'-1,183 '-1,575
-1,687 -1,948

r

—885

p-900

P-1,588 |

penditures, interest paid by consumers, and personal transfer payments to foreigners.
§ Personal saving is excess of disposable income over personal outlays.
I D a t a for individual durable and nondurable goods industries components appear in the
Mar., June, Sept., and Dec. issues of the SURVEY.
d"More complete details appear in the
quarterly reviews in the Mar., June, Sept., and Dec. issues of the SURVEY.

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