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SURVEY OF CURRENT BUSINESS

August 1971

NATIONAL INCOME AND PRODUCT TABLES
1971

1970
1969

II

1970

III

IV

1970
II

1969

1970

II

Seasonally adjusted at annual rates

1971
III

IV

II

Seasonally adjusted at annual rates

Billions of current dollars

Billions of 1958 dollars

Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
Gross national product..

929.1

974.1

3o6.0

968.5

983.5

988 4 1, 020. 8 1, 041. 3

724.7

720.0

719 8

721 1

723 3

715 9

729 7

737 0

579.6
89.9
247.6
242 1

--

Personal consumption expenditures .
Durable goods .
Nondurable goods
.
Services

615.8
88.6
264.7
262 5

604.0
88.6
259.4
256 1

613.8
90.7
262.9
260.2

620
90
265
265

624
84
270
268

660.9
100.8
279.8
280 4

469 3
84 8
202.7
181 8

475 9
81 4
207.3
187 2

474
82
205
186

4
3
7
4

477 1
83 8
206.5
186 8

477
82
207
187

474
76
209
187

484 8
86 7
209 2
188 8

492
89
213
190

9
4
5
0

7
9
9
9

644 6
97 6
272.0
275 0

9
8
3
9

2
6
7
9

3
2
2
0

137.8

135.3

131.2

134.1

138.6

137.3

143.8

152.4

109.6

102.2

101 0

102 7

104 0

101 2

104 7

109 9

130 4

132 5

130 8

132 1

133 5

133 6

140 6

146.7

103 2

99 9

100 7

100 7

100 1

98 1

102 1

105 0

Nonresidential
Structures
Producers' durable equipment

98 6
34 5
64.1

102 1
36 8
65.4

100 8
36 1
64.7

102 1
36 6
65.6

104 8
37 3
67 5

100 8
37 1
63 7

104 3
37 9
66 3

107.0
38.2
68.8

80 1
24 5
55 7

78 6
24 2
54 4

79 3
24 6
54 7

79 4
24 4
55 0

80 1
24 2
55 9

75 5
23 5
52 0

77 5
23 8
53 7

78 7
23 1
55 6

Residential structures
Nonfarm
Farm...

31.8
31 2
.6

30.4
29 7
.6

30.0
29 4
.6

29.9
29 3
.6

28.7
28 1
6

32.8
32 2
6

36.4
35 7
6

39.7
39. 1
.6

23.1
22 6
4

21.3
20 9
4

21.4
21 0
4

21 3
20 8
'4

20 0
19 5
4

22 6
22 2
4

24 6
24 2
'4

26.4
26 0
4

7 4
7 3
.1

2 8
2 5
.3

4
.1
.3

21
18
.3

51
4 7
3

37
33
4

32
30
.2

57
5.2
.5

64
63
1

23
20
.3

3
0
.2

20
17
3

39
36
3

31
2 8
4

26
2 4
2

4 9
4 4
5

Gross private domestic investment
Fixed investment

Change in business inventories
Nonfarm .
Farm

2.0

State and local

4 0

2 7

4 2

-2.2

.1

2.4

17

26

32

21

2 6

63.2
59 0

63.7
59 7

63.2
60 5

66.1
61 9

64.2
66.4

48.5
48 3

52.2
49 8

51.6
49 9

52.8
50 1

52.4
49 2

51.9
49 8

52 8
50 1

51.3
53 6

219.4

217.3

216.5

220.1

223.7

228.2

230.2

145.6

139.4

142.6

138.7

138.2

138.3

137.6

137.1

97 2
75.4
21 9

100 2
78.9
21 3

96 8
75.1
21 6

96 1
74 2
21 9

95 9
73.2
22 7

96 7
73.0
23 7

95.7
71.8
23 9

73.8

65 4

69 4

65 3

63 8

63 2

61 5

60.5

110.6

Federal
National defense
Other

4.2

61.5
58 0

99 2
78.4
20 7

Government purchases of goods and services .

3.5

62.9
59 3

209.7

Exports
Imports

36

55.6
53 6

Net exports of goods and services

122.2

117.1

119.7

124 0

127.9

131.5

134.5

71.9

74.0

73.2

73.4

74.3

75.2

76.1

76.6

-2.4

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
974.1

956.0

968.5

983.5

724.7

720.0

719.8

721.1

723.3

715.9

729.7

737.

921 7
7.4

_ .

929.1

971 3
28

955 6
.4

966 5
2.1

978 4 984 7 1, 017. 6 1, 035. 6 718.2
3.2
6.4
51
5.7
37

717.7
2.3

719.5
.3

719.1
2.0

719.4
3.9

712.8
3.1

727.1
2.6

732.
4.

457.3

Gross national product
Final sales
C hange in business inventories

474 9

988.4 1, 020. 8 1, 041. 3

468 3

461.9

468.6

467 7

483.2

494.6

389.9

383.0

382.7

385.4

387.2

376.7

386.6

393,

Final sales.
Change in business inventories

449 9
7 4

465 5
28

461 5
4

466 6 469 8 464 0
21
51
37

480 0
32

488.9
5.7

383 4
64

380 7
23

382 4
.3

383.4
2.0

383.3
3.9

373.6 384.0
2.6
3.1

388.
4.

Durable goods
Final sales
Change in business inventories

185 3
180 9
4.5

180 2
180 8
—.6

179 8
181 5
—1 8

181 8
183 7
—2.0

189 6
184 9
47

169 7
173 1
—3.4

191 8
188.0
3.8

194.2
191.5
2.7

165 9
162 1
3.8

156 1
156.8
—.6

157 7
159.4
—1.6

158.8
160.3
-1.5

163.7
160.0
3.7

144.4
147.5
-3.1

161.9
158.7
3.2

163.
161.
2.

272 0
269.0
2.9

288 1
284.7
3.4

282 1
279 9
2.2

286 9
282 9
4.0

285 3
284 9
.4

297 9
290 9
7.1

291.4
292.0
—.6

300.3
297.4
3.0

224.0
221.4
2.6

226.9
223.9
3.0

225.0
223.0
1.9

226.7
223.1
3.6

223.5
223.3
.2

232.3
226.1
6.2

224.7
225.3
-.6

230.
227.
2.

377.4

410.3

400.8

406.2

413.7

420.6

432.3

438.1

267.8

273.4

273.0

272.3

273.9

274.5

276.1

276.

94.4

95.5

93 4

93 7

94 9

100 1

105.2

108.6

67.0

63.6

64.1

63.4

62.2

64.7

67.0

67.

Goods output

Nondurable goods
Final sales
Change in business inventories
Services
Structures

.. ..

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
Rest of the world
General government

929.1

825.3

974.1

859.8

956.0
844.5

968.5
854.8

983 5

868.3

988.4 1, 020. 8 1,041.3
871.6

899.5

918.4

724.7

720.0

637.9
614.4
23.5

634.1
609.2
24.9

646.9
622.0
24.9

653.
628.
25.

17.1

16.8

17.0

17.1

17.6

17.

3.6

4.0

4.2

4.5

4.

60.5

60.5

60.8

60.

833.5
806 4
27.1

859.6
831.5
28.1

877.6
848.6
28.9

643.5
619.3
24.2

28.5

31 7

30 9

31.0

32 1

33.0

34.2

35.0

16.5

17.0

103.8

114.4

111.6

113.8

115.2

116.8

5.6

121.3

5.8

122.9

676.

641.8
618.6
23.2

831.3
804 1
27.1

51

737.

640.1
616.1
23.9

819.7
790 9
28.8

4 8

729.7
669.0

659.1

809 1
779 3
29.8

41

715.9

655.4

659.4

823.4
795 2
28.2

45

723.3
662.8

664.0

792.5
764 5
28.0

46

721.1

660.4

638.5
614.6
23.9

4 3

719.8

4.0

60.7

4.0

60.6

4.1

60.7

60.7

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 1971 issue has
data for 1967-70. Prior July issues have final data as follows: 1964-65, July 1968; 1965-66, July 1969; 1966-67, July 1970. QBE will provide
on request a reprint of final data for the years 1964-67.



CURRENT BUSINESS STATISTICS

J_ HE STATISTICS here update series published in the 1969 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $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, 1965 through 1968 (1958-68 for major quarterly series), annually, 1939-68; for selected series,
monthly or quarterly, 1947-68 (where available). Series added or significantly revised after the 1969 BUSINESS STATISTICS went to press are indicated
by an asterisk (*) and a dagger (f), respectively; certain revisions for 1968 issued too late for inclusion in the 1969 volume appear in the monthly
SURVEY beginning with the September 1969 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 1969 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.
1968
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS

1969

1968

| 1970
II

III

1969
| IV

I

II

1971

1970
III

IV

II

I

Annual total

III

I

IV

II

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
1,020.8 ••1,041.3

bil.$._

864.2

929.1

974.1

857.4

875.2

890.2

906.4

921.8

940.2

948.0

956.0

968.5

983.5

988.4

do

536.2

579.6

615.8

529.0

544.0

552.5

564.3

575.8

584.1

594.2

604.0

613.8

620.9

624.7

644.6

' 660. 9

Durable goods, total 9 ___ __
Automobiles and parts
Furniture and household equipment _

do_
do
do

84.0
37.5
34.3

89.9
40.4
36.3

88.6
37.1
37.4

82.4
36.2
33.8

86.3
38.9
35.1

87.0
39.0
35.0

89.5
40.1
35.6

90.6
39.9
37.0

89.4
40.4
36.2

90.3
41.0
36.2

88.6
37.8
37.3

90.7
39.1
37.6

90.4
38.8
37.0

84.9
32.7
37.6

97.6
44.1
39.5

' 100. 8

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

do
do
do
do

230.8
46.3
115.3
19.0

247.6
50.3
122.5
21.1

264.7
52.6
131.8
22.9

227.8
45.3
114.6
18.6

233.6
47.4
116.5
19.2

236.9
47.7
117.9
19.4

241.5
48.5
120.4
20.2

246.4
50.6
121.9
20.8

249.4
51.0
122.9
21.5

253.1
51.1
124.8
21.9

259.4
51.6
128.9
22.5

262.9
52.1
131.4
22.6

265.5
52.4
132.4
22.9

270.9
54.2
134.3
23.5

272.0
54.9
135.1
23.8

' 279. 8
' 57. 0

Gross national product, total t
Personal consumption expenditures, total

Services total 9
Household operation ^
Housing
Transportation

-

do
do
_do_
do

-

Gross private domestic investment, total

do

Fixed investment
- - -do. _
Nonresident ial
do
Structures
- do __
Producers' durable equipment
_do_ _
Residential structures
__.
do
Nonfarm
do
Change in business inventories
-do _
Nonfarm
_ _
do

' 45. 7
'40.4

' 138. 2

24.3

221.3
31.2
77.3
15.5

242.1
33.7
84.0
16.5

262.5
36.1
91.2
17.9

218.8
30.8
76.6
15.4

224.1
31.5
77.8
15.7

228.6
32.1
79.7
15.8

233.4
32.8
81.4
16.2

238.9
33.0
83.0
16.4

245.2
34.1
84.7
16.6

250.8
35.0
86.9
16.8

256.1
35.1
88.7
17.5

260.2
35.7
90.3
17.6

265.0
36.7
91.8
18.1

268.9
36.9
94.1
18.3

275.0
37.7
96.4
18.6

r 280. 4
38.6

126.0

137.8

135.3

127.0

126.2

130.7

134.3

137.0

141.8

138.0

131.2

134.1

138.6

137.3

143.8

r 152. 4

118.9
88.8
30.3
58.5
30.1
29.5

130.4
98.6
34.5
64.1
31.8
31.2

132.5
102.1
36.8
65.4
30.4
29.7

117.4
87.0
29.6
57.3
30.5
29.9

118.5
88.8
30.0
58.8
29.7
29.2

122.6
91.2
31.2
60.1
31.4
30.8

127.6
95.0
33.1
61.8
32.7
32.1

130.2
96.6
33.0
63.6
33.6
33.1

131.4
100.7
36.0
64.7
30.7
30.1
10.4
10.3

132.3
102.2
36.0
66.2
30.1
29.5

130.8
100.8
36.1
64.7
30.0
29.4

132.1
102.1
36.6
65.6
29.9
29.3

133.5
104.8
37.3
67.5
28.7
28.1

133.6
100.8
37.1
63.7
32.8
32.2

140.6
104.3
37.9
66.3
36.4
35.7

r 1 16. 7
r 107. 0

7.1
6.9

7.4
7.3

2.8
2.5

9.6
9.4

7.7
7.5

8.1
8.1

6.6
6.5

6.8
6.7

5.7
5.5

.4
.1

2.1
1.8

5.1
4.7

3.2
3.0

3.7
3.3

4.2

r 98. 6

18.9

'38.2
'68.8
^39.7
'39.1
'5.7
'5.2

do_ _
do
do

2.5

2.0

3.4

1.4

1.2

3.5

4.2

55.6
53.6

3. 6
62.9
59.3

3.4

50.6
48.1

4.0

50.7
47.3

53.1
49.7

50.8
49.5

48.0
46.6

56.9
55.7

58.3
55.5

59.2
56.6

61.5
58.0

63.2
59.0

63.7
59.7

63.2
60.5

66.1
61.9

'-2.2
'64.2
'68.4

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

199.6
98.8
78.3
100.8

209.7
99.2
78.4
110.6

219.4
97.2
75.4
122.2

198.0
98.5
78.3
99.5

201.6
99.8
79.1
101.8

205.7
100.6
79.4
105.1

206.5
99.2
78.3
107.3

207.8
97.7
77.5
110.1

211.5
100.3
79.4
111.2

213.0
99,5
78.4
113.5

217.3
100.2
78.9
117.1

216.5
96.8
75.1
119.7

220.1
96.1
74.2
124.0

223.7
95.9
73.2
127.9

228.2
96.7
73.0
131.5

230.2
'95.7
'71.8
' 134. 5

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

857.1
422.4
169.6
252.9
346.6
88.1

921.7
449.9
180.9
269.0
377.4
94.4

971.3
465.5
180.8
284.7
410.3
95.5

847.8
417.5
167.4
250.1
343.0
87.4

867.5
428.9
172.4
256.5
351.4
87.2

882.1
433. 1
174.0
259.1
357.6
91.4

899.8
441.3
179.1
262.2
364.0
94.5

915.0
447.7
179.6
268.0
371.9
95.3

929.8
452.3
181.3
271.0
383.0
94.5

942.3
458.3
183.4
274.9
390.6
93.4

955.6
461.5
181.5
279.9
400.8
93.4

966.5
466.6
183.7
282.9
406.2
93.7

978.4
469.8
184.9
284.9
413.7
94.9

984.7
464.0
173.1
290.9
420.6
100.1

7.1
4.9
2.1

7.4
4.5
2.9

2.8
-.6
3.4

9.6
6.7
2.9

7.7
4.5
3.1

8.1
6.0
2.1

6.6
3.8
2.8

6.8
4.7
2.1

10.4

5.7
3.0
2.8

.4

2.1

— 1.8

-2.0

5.1
4.7
.4

-3.4

Net exports of goods and services
Exports.. _
Imports

_
_

Change in business inventories..
Durable goods
Nondurable goods

do
do
do. .
do
_do
do
do _
do
do

1.3

2.8

6.5
4.0

2.7

2.2

4.0

2.7

3.7

7.1

1,017.6 '1,035.6
' 488. 9
480.0
'191.5
188.0
' 297. 4
292.0
' 438. 1
432.3
105.2
' 108. 6

3.2
3.8
-.6

' 5.7
'2.7
'3.0

GNP in constant (1958) dollars
Gross national product, total t

bil. $

706.6

724.7

720.0

705.3

712.3

716.5

721.4

724.2

727.8

725.2

719.8

721.1

723.3

715.9

729.7

' 737. 0

do

452.7

469.3

475.9

448.4

457.7

460.2

465.7

469.0

469.9

472.6

474.4

477.1

477.9

474.2

484.8

' 492. 3

do
do
__do. .

81.3
197.1
174.4

84.8
202.7
181.8

81.4
207.3
187.2

80.0
195.3
173.1

83.4
198.6
175.8

83.3
199.4
177.5

85.2
201.6
178.9

85.6
202.8
180.6

84.0
203.0
182.9

84 4
203.4
184.8

82 3
205.7
186.4

83.8
206.5
186.8

82 8
207.3
187.9

76.6
209.7
187.9

86.7
209.2
188.8

'89.2
' 213. 2
' 190. 0

105.2

109.6

102.2

106.8

104.9

107.7

108.4

109.4

112.4

108.2

101.0

102.7

104.0

101.2

104.7

' 109. 9

98.8
75.6
23.2
6.4

103.2
80.1
23.1
6.4

99.9
78.6
21.3
2.3

98.0
74.4
23.7
8.8

97.9
75.3
22.6
7.0

100.3
76.6
23.7
7.4

102.8
78.6
24.1
5.7

103.5
79.1
24.4
5.8

103.2
81.1
22.1
9.2

98. 1
75.5
22.6
3.1

102.1
77.5
24.6
2.6

' 105. 0
'78.7
'26.4
'4.9

1.0

.1

2.4

1.8

1.6

-.3

-.5

-.3

.6

.6

1.7

2.6

3.2

2.1

2.6

'-2.4

139.4
148.2
145.6
Govt. purchases of goods and services, total, .do
147.7
148.0
65.4
Federal. _ _
do
78.4
78.1
78.8
73.8
State and local
do. _
69.4
69.6
71.9
74.0
69.7
' Revised.
» Preliminary.
t Revised series. Estimates of national income and product
and personal income have been revised back to 1967 (see p. 13 ff. of the July 1971 SURVEY);

149.0
78.1
70.9

147.8
76.3
71.4

146.1
73.9
72.1

144.8
73.2
71.6

143.8
71 6
72.2

142.6
69 4
73.2

138.7
65 3
73.4

138.2
63 8
74.3

138.3
63.2
75.2

137.6
61.5
76.1

' 137. 1
'60.5
76.6

Personal consumption expenditures, total
Durable goods
Nondurable goods
Services

...

Gross private domestic investment, total

do

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




do

103 3
81.7
21.6
4.9

100 7
79.3
21.4
.3

100 7
79.4
21.3
2.0

100 1
80. 1
20.0
3.9

revisions prior to May 1970 for personal income appear on p. 22 fr. of the July 1971 SURVEY.
9 Includes data not shown separately.

s-1

SURVEY OF CURRENT BUSINESS

S-2
Unless otherwise stated in footnotes below, data
through 1968 and descriptive notes are as shown in
the 1969 edition of BUSINESS STATISTICS

196S

1969

1970

1969

1968
III

Annual total

August 1971

IV

I

II

1970
III

IV

I

1971

II

III

IV

I-

11°

III

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual Rates
National income, totalf- - - - bil. $
Compensation of employees, total _
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

763.7

795.9

720.3

732.7

745.9

758.9

771.7

778.2

785.8

793.4

802.2

802.1 <*'828. 3

514.6

565.5

601.9

521.6

533.6

545.9

559.1

573.6

583.6

593.2

598.5

606.5

609.3

627.9

' 639. 5

464.9
369.2
17.9
77.8
49.7
64.2
49.5
14.7
21.2

509.6
405.5
19.0
85.1
56.0
67.0
50.3
16.8
22.6

541.4
426.6
19.4
95.5
60.5
66.9
51.0
15.8
23.3

471.1
373.5
18.6
79.0
50.5
64.6
49.9
14.7
21.1

481.6
382.7
18.2
80.7
52.0
65.3
49.8
15.5
21.3

491.8
391.8
18.1
81.9
54.1
66.7
50.2
16.5
22.0

503.7
402.0
18.4
83.4
55.3
67.1
50.5
16.6
22.6

516.9
410.4
20.0
86.5
56.7
67.1
50.5
16.6
22.7

525.8
417.7
19.6
88.5
57.8
67.2
49.8
17.4
22.9

534.7
422.5
20.2
92.1
58.5
68.0
50.2
17.8
23.0

538.5
424.4
19.5
94.5
60.0
67.6
51.0
16.6
23.2

545.2
429.4
19.2
96.6
61.3
66.0
51.4
14.5
23.4

547.2
429.9
18.6
98.6
62.1
65.9
51.5
14.4
23.7

562.3
441.2
19.2
101.8
65.7
'66.0
'51.2
14.8
23.8

' 572. 4
' 449.8
18.6
104 0
'67.1
'66.7
'51.5
15 2
24.2

84.3

78.6

70.8

85.9

84.7

82.7

80.7

78.0

73.3

69.8

71.5

73.0

69.0

r

11.3
73.0
41.7
19.3
22.4

12.1
66.5
36.0
17.5
18.4

12.8
58.1
29.5
16.6
13.0

11.8
74.2
42.0
19.7
22.3

11.8
72.9
41.6
19.1
22.5

12.0
70.7
39.3
18.2
21.1

12.3
68.4
36.9
18.0
18.9

12.2
65.8
34.8
17.0
17.8

12.0
61.3
33.0
16.9
16.1

11.3
58.5
31.1
16.7
14.3

12.1
59.4
31.5
16.5
14.9

13.5
59.5
30.6
16.8
13.8

14.0
54.9
25.0
16.2
8.8

'14.1 P 13.6
'61.4 P63.3
'32.4
'16.4
' 16 0

10.6
20.7

10.0
20.6

8.0
20.5

10.6
21.5

10.3
21.0

10.6
20.8

10.4
21.0

9.8
21.2

9.1
19.2

8.2
19.2

7.8
20.1

7.9
20.9

8.1
21.9

'7 3
' 21.6

87.6
39.9
47.8
23.6
24.2
-3.3
26.9

84.2
39.7
44.5
24.4
20.0
-5.5
29.9

75.4
34.1
41.2
25.0
16.2
-4.5
33.0

86.9
39.5
47.4
24.1
23.3
-.9
27.1

89.0
40.4
48.5
24.3
24.3
-4.2
27,8

88.7
41.8
46.9
24.0
22.9
-6.0
28.6

86.9
41.0
45.9
24.2
21.6
-6.3
29.4

81.2
38.2
43.0
24.7
18.3
-3.2
30.2

80.0
37.7
42.3
24.9
17.4
-6.7
31.1

75.6
34.1
41.5
25.0
16.6
-5.8
31.8

75.8
34.5
41.3
24.9
16.4
-4.2
32.6

78.5
35.6
42.9
25.2
17.7
-5.5
33.4

71.6
32.3
39.2
25.0
14.3
-2.6
34.2

'79 1
'36.2
r 42 9
25 6
r 17 3
—3 5
35 0

688.9
97.9
591.0
551.2
39.8

750.3
116.2
634.2
596.3
37.9

803.6
115.9
687.8
633.7
54.1

697.8
102.7
595.2
559.3
35.9

712.6
107.1
605.5
568.1
37.3

726.8
113.6
613.2
580.4
32.8

743.1
117.2
625.9
592.4
33.4

759.3
116.1
643.2
600.9
42.3

772.2
117.8
654.5
611.4
43.1

784.3
116.7
667.6
621.5
46.2

803.8
118.0
685.7
631.5
54.2

809.8
113.5
696.2
638.9
57.4

816.7
115.2
701.5
643.0
58.5

67.76
28.37
14.12
14.25

75.56
31.68
15.96
15.72

79.71
31.95
15.80
16.15

16.79
7.13
3.54
3.59

19.03
8.10
4.16
3.94

16.04
6.58
3.36
3.22

18.81
7.82
3.98
3.84

19.25
8.16
4.03
4.12

21.46
9.12
4.59
4.53

17.47
7.14
3.59
3.56

20.33
8.15
4.08
4.07

20.26
7.99
3.87
4.12

39.40
1.63
1.45
2.56
1.59
10.20
7.66
2.54
6.83
15.14

43.88
1.86
1.86
2.51
1.68
11.61
8.94
2.67
8.30
16.05

47.76
1.89
1.78
3.03
1.23
13.14
10.65
2.49
10.10
16.59

9.66
.39
.31
.64
.41
2.61
1.87
.74
1.61
3.69

10.93
.40
.38
.66
.47
2.90
2.16
.74
2.00
4.13

9.45
.42
.38
.68
.38
2.36
1.88
.48
1.81
3.41

10.99
.48
.44
.66
.46
2.99
2.22
.77
2.00
3.97

11.10
.47
.49
.53
.40
3.03
2.23
.80
2.11
4.07

12.34
.49
.55
.64
.44
3.23
2.61
.62
2.39
4.60

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

12.18
.47
.47
.80
.31
3.28
2.59
.69
2.59
4.26

do
do
do
do

67. 77
28.86
14.47
14.40

69.05
28.70
14.39
14.31

72.52
29.99
15.47
14.52

73.94
31.16
15.98
15.18

77.84
33.05
16.53
16.52

77.84
32.39
15.88
16.50

78.22
32.44
16.40
16.05

do
do
do
do
do
do
do
do
do
do

38.91
1.57
1.29
2.69
1.65
9.82
7.50
2.32
6.67
15.22

40.35
1.52
1.34
2.87
1.75
10.63
7.74
2.89
7.34
14.91

42.53
1.83
1.68
2.89
1.87
11.52
8.62
2.90
7.74
15.00

42.78
1.88
1.76
2.22
1.66
11.68
8.71
2.97
7.92
15.67

44.80
1.89
2.06
2.23
1.65
11.48
8.98
2.50
8.71
16.78

45.46
1.85
1.94
2.80
1.63
11.80
9.36
2.44
8.76
16.67

62, 903
41, 980

13, 284
8 878

12, 701
8 378

11, 995
7 510

14, 222
9,490

14, 574
9,602

393

357

407

329

2,398
1,615

2,339
1,627

2,471
1,607

2,585
1,818

do
do
do
do. .
do
do
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
. 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 PERSONAL INCOMEf
Quarterly Data Seasonally Adjusted at Annual Rates
Personal income total
bil. $
Less: Personal tax and nontax payments
do___
Equals: Disposable personal income _.
do. _
Less: Personal outlays©
do
Equals: Personal saving§._
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals :J
All industries
bil $
Manufacturing
do.
Durable goods industries 1
do
Nondurable goods industries J
do
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 f
Nondurable goods industries t
Nonmanufacturing
Mining. _
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication
Commercial and other

fl

711.1

do
do
do
do
do
do.
do
do
do
do

U.S. BALANCE OF INTERNATIONAL
PAYMENTScf
Quarterly Data Are Seasonally Adjusted
(Credits +; debits -)
Exports of goods and services (excl. transfers under
military grants)
mil $
Merchandise adjusted excl military
do
Transfers under U.S. military agency sales contracts
mil $
Receipts of income on U.S. investments
abroad
mil $
Other services
do

50 623
33 588

55, 600
36 490

1,395

1,515

1,480

10, 539
7,056

11, 409
8,034

9 233
6,407

75 5

p843. 2

P 77 0

P 82 0
P 37 4
p 44 6
25 4
p 19 2
' —5 1
35 8

r 334 3 ' 854 8
112.7 ' 114 0
r 721 6 '740 8
663 2 ' 679 9
r 58 4

r (JO 9

21.66
8.66
4.26
4.40

17 68
6 69
3.11
3 58

i 20 80
7 66
3.68
3 98

i 20 6'
76
3.6
4 0

12.27
.46
.46
.74
.30
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

13 15
52
.50
61
41
3.90
3.30
.60

12 9
4
.4
3
.4
4.0
3.2

27.21

2

80.22
32.43
16.32
16.11

81.88
32.15
15.74
16.40

78.63
30.98
14.92
16.05

79 32
30 46
14.21
16 25

*82. 38
30.54
14.66
15.88

182.8
30.6
14.8
15.7

45.78
1.92
1.74
2.94
1.37
12.14
9.77
2.37
9.14
16.52

47.79
1.84
1.88
2.88
1.12
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

47.66
1.94
1.56
3.08
1.22
13.68
11.20
2.48
10.20
15.97

48.86
2.04
1.46
1 29
1.33
14 64
12. 16
2.48
10 70
17.39 2

51.84
01
00
30
59
18
98
20

52.1
2.0
1.,
1.5
1.5
15.6
13.1
2.4

28 75

229.5

14, 811
9,888

15, 374
10 241

15, 806
10, 582

15, 930
10 696

442

336

274

447

327

2,716
1,814

2,767
1,820

2,925
1,934

2,791
1,986

2,855
2,052

2
2
2
1
15
12
2

7.2

15, 795 P 16, 515
10 461 Pll 032 plO 710
433

P507

2,839 p 2, 845
2,062 * 2, 131

-48,134 -53, 589 -59,311 -12, 436 -12, 384 -11. 657 -13, 926 -13, 866 -14, 142 14, 493 -14, 761 14, 935 15, 125 P- 15,464
Imports of goods and services
do
Merchandise, adjusted, excl. military
do. ._ -32,964 -35, 830 -39,870 -8,568 -8,441 -7,589 -9,566 -9,278 —9, 397 -9,728 -9,831 -9,992 -10, 319 p-10,760 p -11,750
— 4 535 -4,856 -4,851 — 1,147 -1,173 -1,198 -1,187 -1,221 — 1, 251 -1,182 -1,255 -1,211 -1,203 p-1,184
Direct defense expenditures
do
Payments of income on foreign investments in the
-929 -1,078 -1,242 — 1, 315 -1,348 -1,322 -1,284 -1,213 p-1,118
-800
-775
U.S....
mil.$_. -3,013 -4,564 -5, 167
—2,095 — 2, 125 —2, 179 — 2,235 — 2,353 — 2, 448 —2,390 P— 2,402
— 7,621 — 8,339 — 9,425 — 1,946 — 1,970
Other services
._ __ ..do
SURVEY.
©Personal outlays comprise personal consumption expenditures, interes
' Revised.
P Preliminary.
i Estimates (corrected for systematic biases) for Apr.paid by consumers, and personal transfer payments to foreigners.
§Personal saving i
June and July-Sept. 1971 based on expected capital expenditures of business. Expected exexcess of disposable income over personal outlays.
penditures for the year 1971 appear on p. 16 of the June 1971 SURVEY.
2 includes comHData for individual durable and nondurable goods industries components appear in th
munication.
fSee corresponding note on p. S-l.
9 Includes inventory valuation adMar., June, Sept., and Dec. issues of the SURVEY.
d*Revised; more complete detaih
justment,
t Revised series; explanation of revisions and annual and quarterly data back
as 0well as revised quarterly data back to 1966, appear on p. 24 ff. of the June 1971
to 1947 appear on pp. 25 ff. of the Jan. 1970 SURVEY; see also pp. 19 ff. of the Feb. 1970
See note "*" on p. 10.




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