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SURVEY OF CURRENT BUSINESS

6

August 1978

NATIONAL INCOME AND PRODUCT TABLES
1977
1976

1977

I

II

1978
III

IV

I

1977
Ilr

1976

1977

II

I

Seasonally adjusted at annual rates

1978

III

IV

I

Ilr

Seasonally adjusted at annual rates

Billions of current dollars

Billions of 1972 dollars

Table 1 —Gross National Product in Current and Constant Dollars (1. 1.2)
1,
5
1,700.1 1,887.2 1,806.8 1,867.0 1,916.8 1,958.1 1,992.0 2,083.2 1,271.0 1,332.7 1,306.7 1,325.5 1,343.9 1,354.5 1 354.2 1,380*

Gross national product

,090.2 1,206.5 1,167.7 1,188.6 1,214.5 1,255.2 1,276.7 1,324.9

Personal consumption expenditures

156.6
442.6
491.0

178.4
479.0
549.2

173.2
465.9
528.6

175.6
473.6
539.4

177.4
479.7
557.5

187.2
496.9
571.1

243.0

297.8

272.5

295.6

309.7

232.8

282.3

262.2

278.6

287.8

164.6
57.3
107.3

190.4
63.9
126.5

180.6
59.3
121.4

187.2
63.4
123.8

68.2
65.8
1.1
1.3

91.9
88.9
1.5
1.5

81.6
78.6
1.6
1.4

10.2
12.2
-2.0

15.6
15.0
.6

7.4

819.4

857.7

846.6

849.5

858.0

876.6

873.5

887"3

125.9
320.2
373.2

137.8
330.4
389.5

134.9
327.1
384.6

136.2
327.2
386.0

136.9
329 2
391.8

143.0
338 1
395.6

137 8
333 3
402 4

330 g
404

Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment

.

Residential
Nonfarm structures
Farm structures.
Producers' durable equipment
Change in business inventories
Nonfarm
Farm

.

Net exports of goods and services
Exports
Imports
Government purchases of goods and services
Federal
N a t i o n a l defense
Nondefense
State and local

198.0
519.8
607.1

313.5

322.7

344.0

173.4

196.3

186.1

197.1

201.7

200.3

205.7

300.5

306.0

325.1

166.8

187.4

180.3

187.1

189.5

192.8

193.4

193.5
65.4
128.1

200.3
67.4
132.8

205.6
68.5
137.1

219.8
76.1
143.7

118.9
38.3
80.6

129.8
40.0
89.8

126.8
38.3
88.5

129.1
40.0
89.0

130.8
40.8
90.0

132.5
41.0
91.5

133.8
41.0
92.9

200' °
4
140 4
44" n
90- °

91.4
88.4
1.6
1.4

94.3
91.2
1.6
1.5

100.2
97.5
1.2
1.6

100.3
97.3
1.3
1.7

105. 3
102.1
1.4
1.8

47.8
46.0
.7
1.1

57.7
55.6
.9
1.2

53.5
51.4
1.0
1.1

58.0
55.9
1.0
1.1

58.8
56.6
1.0
1.2

60.3
58.4
.7
1.2

59.5
57.4
.8
1.3

57'
.8
I-4

10.3
11.1
-.8

17.0
16.5
.5

21.9
22.0

13.1
10.4
2.7

16.7
16.9
-.2

18.9
20.9
-2.0

6.7
8.5
-1.9

8.9
9.4

5.8
7.4
-1.6

10.0
10.2
2

12.2
13.5
-1.4

7.5
6.5
.9

12.3
12.5
— .1

12-°

-11.1

-8.5

-5.9

-7.0

-23.2

-24.1

-10.2

15.4

9.5

11.2

11.0

12.5

3.1

2.9

8-9

175. 5
186.6

170.9
179.4

178.1
184.0

180.8
187.8

172.1
195.2

181.7
205.8

200.9
211.1

95.9
80.5

98.2
88.7

97.1
85.9

98.9
87.9

100.8
88.2

96.0
92.9

99.1
96.2

106-1
97-3

359.5

394.0

375.0

388.8

399.5

412.5

416.7

424.5

262.8

269.2

262.8

267.9

271.7

274.5

272.1

271.9

129.9
86.8
43 1
229.6

_

183.5
501.4
591.8

163 2
155.7

Durable goods
Nondurable goods
Services

145.1
94.3
50 8
248.9

138.3
91.9
46 4
236.7

142.9
93.7
49 3
245.9

146.8
94.4
52 4
252.7

152.2
97.1
55 1
260.3

151.5
97.9
53 6
265.2

147.2
98.6
48 0
277.3

96.6

101.6

98.7

101.3

102.9

103.6

101.2

97.1

166.2

167.6

164.1

166.6

168.8

170.9

170.8

174.7

i

j. 2

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
1,700.1 1,887.2 1,806.8 1,867.0 1,916.8 1,958.1 1,992.0 2,083.2 1,271.0 1,332.7 1,306.7 1,325.5 1 343.9 1,354.5 1,354.2 1,380.5

Gross national product.
Final sales
Change in business inventories.
Goods..

1, 689.9 1,871.6 1, 796.5 1, 850. 0 1, 894. 9 1,945.0 1,975.3 2,064. 3 1, 264.4 1, 323. 8 1,300.9 1,315.5 1, 331. 7 1, 347.1 1,341.8 1,368. 5
12.0
12.3
10.2
10.0
7.5
17.0
18.9
10.3
21.9
13.1
16.7
6.7
5.8
15.6
8.9
12 2
760.3

Final sales
Change in business inventoriesDurable goods
Final sales
Change in business inventories.
Nondurable goods
Final sales
Change in business inventories.
Services
Structures.

832.6

800.2

825.8

844.7

859.6

861.8

911.2

576.5

608.4

596.0

604.4

613.3

620.1

611.8

627.2
015.1
12.0

750.1
10.2

817.0
15.6

789.9
10.3

808.8
17.0

822.8
21.9

846.5
13.1

845.1
16.7

892.3
18.9

569.8
6.7

599.6
8.9

590.1
5.8

594.3
10.0

601.1
12. 2

612.7
7.5

599.4
12.3

304. 6
299.3
5.3

341.3
332.9
8.4

332.2
326.1
6.1

339.1
330.0
9.1

346.5
334.6
11.9

347.4
341.1
6.3

351.2
336.3
14.8

375.1
365. 2
9.9

236.2
232.5
3.6

253.7
248.0
5.8

250.9
246.5
4.4

253.0
246.9
6.1

255.9
248.0
7.9

255.1
250.5
4.6

254.6
245.0
9.6

266.2
260.3
5.9

455.7
450.7
4.9

491.3
484.1
7.2

468.0
463.8
4.2

486.7
478.8
7.9

498.2
488.2
10.0

512.2
505.4
6.8

510.6
508.7
1.9

530.1
527.1
9.0

340.3
337.3
3.0

354.7
351.6
3.1

345.0
343.6
1.4

351.3
347.5
3.9

357.4
353.1
4.3

365.0
362.1
2.9

357.2
354.5
2.7

301.0
354.8
• 0.2

778.0
161.9

862.8
191.8

832.3
174.3

850.0
191.3

875.3
196.8

893.6
204.9

926.4
203.8

949.4
222.5

583.0
111.6

602.9
121.3

596.3
114.5

598.8
122.3

606.9
123.7

609.6
124.8

620.1
122.3

624.2
129.2

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. _.
Residual1
Households and institutions
Government
Federal...
State and local.
Rest of the world.
r

1,700.1 1,887.2 1,806.8 1,867.0

1,916.8 1.958.1 1,992.0 2,083.2 1,271.0 1,332.7 1,306.7 1,325.5 1,343.9 1,354.5 1,354.2 1,380.5

1,685.7 1,869.9 1,789.7 1,849.0 1,898.7 1.942.2 1,973.8 2,064.6

1,264.3 1,325.3 1,299.4 1,317.7 1,336.3 1,347.9 1,346.6 1,372.8

1,436.7 1, 599.3 1, 527. 8 1, 582.5 1,626.4 1, 660. 4 1, 684.1 1,770.0 1, 077. 9 1,135. 9 1,112.1 1,129. 6 1,146.1 1,155. 9 1,153.5 1,179.0
1,385.6 1, 544.0 1,474.9 1, 528.0 1,571.6 1, 601. 6 1, 628.9 1,712.7 1, 040.1 1, 094. 2 1,072. 7 1,088. 9 1,102. 6 1,112.4 1,115.4 1,143. 8
998.1 1,025. 2
976.1
996.4
988.0
1, 255.0 1,397.8 1,335. 2 1,384.0 1,423. 2 1, 449.0 1, 471. 7 1,550.9
961.7
932.6
980.5
117.4
118. 0
112.8
116.0
144.1
130.6
157.1
161.7
114.6
139.7
107.5
111.0
148.4
152.7
113.6
146.2
32.5
30.5
34.1
50.8
36.1
46.9
53.0
50.4
49.5
32.2
34.5
32.9
47.7
54.0
34.4
50.5
3.7
4.2
2.2
.9
3.4
7.1
4.8
4.7
4.6
5.5
9.0
7.4
6.4
7.3
6.6
5.6
56.5

62.7

60.0

61.3

63.5

65.9

68.8

70.5

40.7

42.2

41.2

41.7

42.5

43.6

43.8

44.3

192.5
62.4
130.1

208.0
66.4
141.5

201.9
65.2
136.8

205.2
65.4
139.8

208.9
65.7
143.2

215.9
69.5
146.4

221.0
69.9
151.1

224.1
70.1
154.1

145.6
48.5
97.1

147.2
48.7
98.4

146.1
48.6
97.5

146.3
48.7
97.6

147.7
48.8
99.0

148.4
48.8
99.6

149.4
48.8
100.6

149. 0
48.8
100.7

14.4

17.3

17.1

18.0

18.1

15.9

18.2

18.6

6.8

7.3

7.4

7.8

7.6

7.5

7.7

Revised.

HISTORICAL STATISTICS
T h e national income a n d p r o d u c t d a t a for 1929-72 are in The National Income and
Products Accounts of the United States, 1929-7$: Statistical Tables (available for $4.95, S N
003-010-00052-9, from Commerce D e p a r t m e n t District Offices or t h e Superintendent of




D o c u m e n t s ; see addresses inside front cover). D a t a for 1973,1974, a n d 1975-77 are i n J u l y
1976, J u l y 1977, a n d J u l y 1978 issues of t h e SURVEY,
respectively.

CURRENT BUSINESS STATISTICS

X 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.

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

1976

1977

II

III

IV

I

II

1978

1977

1976

1975

III

IV

I

II

III

IV

I

II'

Annual total
Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTt
Gross national product, totalf..

Personal consumption expenditures, total, .do

,564.0 1,598. 0

,649.7 1,685. 4 1, 715. 6 1,749.8

, 867.0 1,916.8 1,958.1

964.9

994.0 1,021.6

, 053. 8 1,075.1 1,098.4 1,133.7

167.7

, 188.6 1,214. 5 1,255.2 1,276.7 1,324.9

1,090.2 1,206. 5
156. 6
69.7
63.9

178.4
81. 5
71.3

128.1
49.6
57. 5

'136. 3
55.9
58. 7

143. 5
60.6
60.8

152. 2
67.7
61.9

154.7
69.1
63.0

156. 7
69. 5
64.2

162.8
72.6
66.5

173. 2
81.3
68.0

175. 6
81.2
69.9

177.4
79. 5
72.0

187.2
84.0
75.3

183.5
84.1
72.1

198.0
92.8
76.5

442.6
75.7
225.8
42.8

479.0
81. 5
245. 2
46.5

405. 5
69.9
208.0
39.1

415.0
71. 5
212.4
40.0

421.4
72.2
216.6
40.5

430. 3
73.8
219.4
41.4

437.4
74.2
223. 9
41.9

444. 5
76.1
227.4
43.0

458. 3
78. 5
232. 3
45.1

465. 9
78.5
237.5
46.1

473.6
79.3
244. 5
46.2

479.7
81.4
246.4
46.0

496.9
86.7
252.6
47.5

501.4
82.9
257.7
48.3

519.8
87.6
267.9
49.2

491.0
166.4
37.9

549. 2
81.6
184.6
44.2

431.3
64.2
148.0
31.9

442.7
65.8
151. 5
32.7

456.7
66.7
156. 3
34.0

471. 3
69.3
160.2
36.0

483.0
70.2
164.7
37.0

497.2
73. 5
168.2
38.7

512. 6
78.2
172.3
39.8

528.6
80.2
177.3
40.8

539.4
78.0
182.1
43. 5

557. 5
83.7
186.9
45.0

571.1
84.6
192.0
47.3

591.8
89.6
198.1
49.7

607.1
89.4
204.1
52.1

190.9

243.0

297.8

175. 2

206.8

203.9

231.5

243.5

249.9

247.1

272.5

295.6

309. 7

313.5

322.7

344.0

201.6
150. 2
53. 8
96.4

232.8
164.6
57.3
107.3

282.3
190.4
63.9
126.5

197. 5
148.8
52.9
95.9

202. 3
149.7
54.0
95.7

208.8
151. 5
54. 7
96.8

220.1
157.7
56.4
101.3

228.1
162.2
57.6
104.6

235.3
168.1
57. 3
110.8

247.6
170. 5
57.9
112.6

262. 2
180.6
59. 3
121.4

278.6
187. 2
63.4
123.8

287.8
193. 5
65.4
128.1

300.5
200.3
67.4
132.8

306.0
205.6
68.5
137.1

325.1
219.8
74.1
143.7

Durable goods, total 9
-do
Motor vehicles and parts
do
Furniture and household equipment. _.do
Nondurable goods, total 9
-do
Clothing and shoes
do
Food
do
Gasoline and oil
.do
Services, total?
do
Houshold operation
_.
_ _.do
Housing
...do
Transportation
do
Gross private domestic investment, total....do.
Fixed investment
.do
Nonresidential
do
Structures
do
Producers' durable equipment
do

, 992.0 2,083.2

1, 700.1 1,887. 2 1,498. 6

_bil.$_

Residential
Change in business inventories
Nonfarm

do
.do
do

51. 5
-10.7
-14.3

68.2
10.2
12.2

91.9
15.6
15.0

48.7
-22.3
-24.9

52.6
4.6
1.1

57.3
-4.9
-9.0

62.4
11.4
12.7

65.9
15.4
18.8

67.3
14.5
15.2

77.1
-.6
2.2

81.6
10.3
11.1

91.4
17.0
16. 5

94.3
21.9
22.0

100.2
13.1
10.4

100.3
16.7
16.9

105.3
18.9
20.9

Net exports of goods and services
Exports
Imports

do
do
do

20.4
147. 3
126.9

7.4
163.8
155.7

-11.1
175. 5
186.6

24.3
142.6
118.3

20.9
147.0
126.1

20.9

152. 2
131.2

10.4
154.4
144.1

9.7
160.7
150. 9

6.9
168.2
161.3

2.8
169.4
166.6

170.9
179.4

-5.9
178.1
184.0

-7.0
180.8
187.8

-23.2
172.1
195.2

-24.1
181.7
205.8

-10.2
200.9
211.1

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

338.4
123.1
83.7
215.4

359.5
129.9
86.8
229.6

394.0
145.1
94.3
248.9

334.2
121.4
82.8
212.8

342.2
123.6
84.2
218.7

351. 5
127.9
86.4
223.6

354.0
127.1
85.9
226.9

357. 2
127.8
85.6
229.4

360.4
129.9
86.5
230. 5

366.3
134.6
89.1
231.7

375. 0
138. 3
91.9
236.7

388.8
142.9
93.7
245.9

399.5
146.8
94.4
252.7

412.5
152.2
97.1
260.3

416.7
151.5
97.9
265.2

424.5
147.2
98.6
277.3

Change in business inventories
Durable goods
Nondurable goods

1,539. 6
259. 0
427.5
697.6
144.7

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

-10.7
-8.9
-1.8

1,871. 6 1, 520.9 1,559. 4 1, 602.9 1, 638.3 1,670.1 1,701.0 1,750.4 1, 796.5 1,850.0 1,894.9 1,945.0 1,975.3 2,064.3
892.3
861.8
859.6
844.7
825.8
800. 2
718.6
768.1
772.9
670.2
711.4
758.0
832.6
741.9
365.2
351.2
347.4
346.5
339.1
332.2
312.4
269.9
273.7
301.8
315. 6
254.1
341.3
288.6
527.1
510.6
512.2
498.2
486.7
468.0
441.5
456.2
444.9
457. 3
416.1
455.7
491. 3
453.4
949.4
926.4
893.6
875.3
850.0
832.3
706.1
766.9
726.4
787.1
808.1
688.6
862.8
749.7
222.5
203.8
204.9
196.8
191.3
174.3
146.5
160.5
160.3
153.0
168.7
139.8
191.8
158.1
18.9
16.7
13.1
21.9
17.0
10.3
10.2
11.4
15.4
14.5
15.6 - 2 2 . 3
4.6
-4.9
19.9
14.8
6.3
11.9
6.1
9.1
5.2
5.3
8.4 - 1 0 . 9
9.3
-3.5
.1
6.5
-8.6
9.0
1.9
6.8
10.0
4.2
7.9
7.2 -11.4
4.9
5.3
8.0
3.7
11.3
8.9
-5.8

760.3
304.6
455.7
778.0
161.9

GNP in constant (1972) dollars f
Gross national product, totalf

1,271. 0 1,332.7 1,189.9 1,220.0 1,227.9 1, 255.5 1, 268.0 1,276. 5 1, 284.0 1,306. 7 1,325. 5 1,343.9 1,354. 5 1,354.2 1,380.5
873.5
887.3
876.6
858.0
849.5
770.2
779.7
857.7
846.6
806.3
820.9
819.4
814.0
836.2
791.1

bil.$.

1,202.3

Personal consumption expenditures, total, .do...

774.6

Durable goods
do...
Nondurable goods
do...
Services
do...
Gross private domestic investment, total...do
Fixed investment
_
do
Nonresidential
do
Residential
.do
Change in business inventories
do

112.7
306.6
355.3

125.9
320.2
373.2

142.6
152.4
113.6
38.8
-9.8

Net exports of goods and services

do

Govt. purchases of goods and services, total.do
Federal
_.do
State and local
~.__do.-




134.9
327.1
384.6

136.2
327.2
386.0

136.9
329.2
391.8

143.0
338.1
395.6

137.8
333.3
402.4

145.9
336.6
404.8

177.1

173.4

186.1

197.1

201.7

200.3

205.7

212.5

167.8
121.0
46.8
9.3

173.6
121.4
52.3
-.2

180.3
126.8
53.5
5.8

187.1
129.1
58.0
10.0

189.5
130.8
58.8
12.2

192.8
132.5
60.3
7.5

193.4
133.8
59.5
12.3

200.5
140.4
60.1
12.0

109.4
307.5
353.4

115.2
307.5
357.0

119.7
309.5
361.9

124.8
314.6
366.9

173.4

196.3

133.3

153.7

148.9

168.5

174.7

166.8
118.9
47.8
6.7

187.4
129.8
57.7
8.9

149.9
112.9
37.0
-16.7

151.5
112.0

154.1
111.8
42.3
-5.2

161.0
115.5
45.5
7.5

164.6
117.8
46.8
10.1

22.6

15.4

9.5

24.7

22.8

22.2

16.5

16.1

16.1

13.1

11.2

11.0

12.5

3.1

2.9

8.9

262.6
96.5
166.1

262.8
96.6
166.2

259.2
101.6
167.6

261.6
96.2
165.4

263.8
96.7
167.2

265.7
97.3
168.4

264.3
96.2
168.1

263.2
95.9
167.3

262.5
96.8
165.7

261.3
97.5
163.8

262.8
98.7
164.1

267.9
101.3
166.6

271.7
102.9
168.8

274.5
103.6
170.9

272.1
101.2
170.8

271.9
97.1
174.7

39.5

2.1

'Revised
P Preliminary.
fRevised series. Estimates of national income and product
and personal income have been revised back to 1973 (see p. 16 ft. of the July 1977 SURVEY and
269-665 O - 78 - Si

128.5
327.7
380.0

125.3
320.5
375.1

137.8
330.4
389.5

125.2
318.2
370.6

p 24 ff. of the July 1978 SURVEY) ; revisions prior to May 1977 for personal income appear on
p. 36 of the July 1978 SURVEY.
9 Includes data for items not shown separately.

S-l

SURVEY OF CURRENT BUSINESS

S-2
1975

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of B U S I N E S S STATISTICS

1976

1977

Annual total

1976

1975

III

August 1978

IV

I

II

1977

III

IV

I

1978

III

II

IV

I

II r

III

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCTf—Con.
Quarterly Data Seasonally

Adjusted

Implicit price deflators:!
Gross national product .
. Index, 1972=100 _ 127.15
126.4
Personal consumption expenditures
do
117.7
Durable goods
.
_ do
133.4
Nondurable goods
do
123.2
Services
do
Gross private domestic investment:
132.3
do
Fixed investment
132.2
do
Nonresidential
do
132.8
Residential _
.
_.
_..
Govt. purchases of goods and services
Federal
State and local
Quarterly Data Seasonally Adjusted

at Annual

National income totalt
CoTTTDPJTSation of PTHDIOVPPS total
Waces and salaries total
Govt and £rovt entprnrisps

Other

do
.do....
do

128.9
127.5
129.7

133. 76
133.1
124.4
138.2
131.6

141. 61
140.7
129.5
145.0
141.0

128.19
127.5
118.4
134.9
124.0

130.14
129.1
119.9
136. 2
126.2

131. 40
130.7
122.0
136.8
128.4

132. 92
132.1
123. 6
137.4
130.3

134. 39
133.8
125.0
138. 7
132.5

136. 28
135.6
126.8
139.9
134.9

138. 27
137.9
128.4
142.4
137.4

140. 86
139.9
128.9
144.7
139.7

142. 63
141.6
129.5
145.7
142.3

144. 56
143.2
130.9
147.0
144.4

147.10
146. 2
133.1
150.4
147.1

150.90
149.3
135.7
154.4
150.0

139.6
138.4
142.5

150.6
146.7
159.4

133.5
133.6
133.0

135.5
135.5
135.6

136.7
136.6
137.2

138.5
137.7
140.7

140.3
138.9
143.8

142.6
140.5
147.6

145.4
142.5
152.3

148.9
145.0
157.6

151.9
147.9
160.6

155.9
151.2
166.1

158.2
153.6
168.6

162.2
156.6
175.2

136.8
134.4
138.1

146. 3
142.7
148.5

129.7
127.8
130.8

132.3
131.4
132.8

134.0
132.1
135.0

135.7
133.3
137.1

137.3
134.2
139.1

140.2
138.0
141.5

142.7
140.1
144.3

145.1
141.1
147.6

147.1
142.7
149.7

150.3
146.9
152.3

153.2
149.6
155.2

156.2
151.5
158.7

Rates
1,215.0

T - 1 $,
^i

931.1
805.9
175.4
630.4
125.2

do
do
do
do

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

1,359.2 1,515.3 1,243.2 1,271.8 1,319.8 1, 347. 9 1,372.1 1,397. 0 1,447.5 1,499.3 1,537.6 1,576.9 1,603.1 1,683.6
1,036. 8 1,153. 4
890.1
983.6
187.6
200.8
702.5
782.9
146.7
169.8

939.0
812.0
177.0
635.0
127.0

907. 8 1, 001. 7 1,026.0 1,046.1 1,073. 3 1,107. 9 1,140. 5 1,105. 8 1,199. 7 1,241.0 1,287.5
993.6 1,021.2 1,050. 8 1,089.9
836.1
861.7
897.3
940. 4
973.4
881.5
919.9
213.9
208.1
211.4
195.2
198.1
201.7
183.7
186.1
188.1
192.6
181.3
813.1
876.0
709.2
751.2
839.3
695.4
727.2
775.3
791.9
678.0
654.8
178.4
197.5
153.4
161.5
167.1
172.2
190.2
148.8
140.0
144.0
131.7

87.0
23.5
63.5

88.6
18.4
70.2

99.8
20.2
79.5

91.8
26.9
64.9

91.2
25.1
66.1

88.6
20.9
67.7

88.8
19.6
69.3

87.4
16.9
70.5

89.5
16.3
73.2

95.6
19.4
76.1

98.9
20.0
78.9

97.2
16.5
80.8

107.3
25.1
82.3

105.0
21.9
83.1

110.1
24.0
86.0

22.4

22.5

22.5

22.4

22.5

22.5

22.4

22.4

22.8

22.5

22.4

22.4

22.7

22.8

22.2

95.9

127.0

144.2

110.1

110.3

126.8

128.6

130.0

122.5

129.9

143.7

154.8

148.2

132.6

159.5

117.1
12.6
104.5
59 9
25.6

118.7
13.6
105.1
59 3
23.2

132.3
15.8
116.4
67 0
27.4

135.4
17.0
118.4
67 5
29.7

136.3
18.3
118.0
65.9
28.5

128.7
19.1
109.7
61.9
26.9

134.8
19.7
115.1
66.4
29.9

148.1
19.9
128.1
77.4
37.2

159.5
21.9
137.6
74.7
34.2

155.6
21.9
133.7
80.2
39.1

139.2
22.7
116.6
69.8
32.8

167.3
24.3
143.0

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
Manufacturing total 9
do
do
Durable goods
Transportation, communication, and
electric, gas, and sanitary serv
bil. $_.
Rest of the world
do

101.8
13.0
88.9
48 3
18.3

133.2
17.5
115.6
65 6
28.1

149.5
20.9
128.6
74.7
35.1

9.2
6.1

13.7
8.2

16.1
9.6

10.7
6.3

12.7
5.9

12.4
8.9

14.3
7.6

14.9
8.2

13.3
8.2

15.4
9.7

14.5
10.4

17.5
10.3

17.1
7.9

17.3
9.4

do
do
do
-do....
-do....

120.4
49.8
70.6
31.9
38.7

155.9
64.3
91.7
37.9
53.8

173.9
71.8
102.1
43.7
58.4

134.0
55.8
78.1
32.1
46.0

137.2
56.9
80.3
32.0
47.8

152.6
63.6
89.0
34.5
54.5

158.7
60.3
92.4
37.2
55.2

157.8
64.7
93.1
38.4
54.7

154.6
62.4
92.2
41.4
50. 8

164.8
68.3
96.5
41.5
55.0

175.1
72.3
102.8
42.7
60.1

177.5
72.8
104.8
44.1
60.6

178.3
73.9
104.4
46.3

172.1
70.0
102.1
47.0
55.1

-16.6
-14.8
93.7

-7.7
-15.0
97.3

-14.8
-15.3
99.0

Profits before tax total
Profits tax liability
Profits after tax
Dividends.
Undistributed profits
Inventorv valuation adinstmpnt
Capital consumption adjustment
Net interest

-12.4
-12.0
78.6

do
do
do

-14.5
-14.4
84.3

-14.8
-14.9
95.4

-10. 6
-13.3
79.9

-12.5
-14.4
80.0

-11.4
-14.4
80.1

-15.7
-14.4
82.0

-13.3
-14. 5
86.2

-17.6
-14.5
88.9

-20.3
-14.6
91.7

-23.5
-16.1
101.7

9.4
201.6
84.2
117.3
48.1
AQ 9

-24.9
-17.2
104.5

DISPOSITION OF PERSONAL INCOMEf
Personal income total
Less* Personal tax and nontax Davments
Equals: Disposable personal income
Less* Personal outlays©
Eduals* Personal savintr§

bil $

1, 255. 5
168.8
1,086. 7
1,003.0
83.6

do
do
do

1,380.9 1, 529. 0 1, 274.1 1, 305. 4 1,336.9 1,303. 2 1, 392. 8 1,430.5 1, 470. 7 1, 508. 6 1, 543. 7 1, 593. 0 1,628.9 1,682.2
233.3
248.9
226.0
192. 6
200.0
184.4
209.0
222.7
223.3
224.6
237.3
196. 5
179.6
173.8
1,184.4 1,303. 0 1,100. 3 1,125.8 1,152. 5 1,170. 6 1,192.8 1, 221. 5 1,248.0 1,285.3 1,319.1 1,359. 6 1,391. 0 1,433.3
1,116. 3 1, 230.1 1,018.1 1, 040. 0 1,078. 9 1,100. 7 1,124. 8 1,160. 9 1,195.8 1,217. 8 1, 244. 8 1, 285.9 1,309.2 1, 358. 7
73.7
74.6
00. 9
52.2
82.2
73.6
60.7
74.3
82.4
79.8
09.9
68.1
67.5
68.0

NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
Manufacturing
Durable goods industries^. 1
Nondurable goods industries !!
Nonmanufacturi ng
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^
Nondurable goods industries^
._
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication
Commercial and other
r

112. 78
47.95
21.84
26.11

120.49
52.48
23.68
28.81

135.80
60.16
27.77
32.39

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

32.35
13.67
6.36
7.31

i 37.43
16.37
7.54
8.83

i 38.28
17.31
7.90
9.41

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

16.12
.94
.62
.50
.85

17.44
.97
.62
.43
.93

14.91
.92
.49
.26
.72

17.04
.99
.68
.42
1.02

16.93
1.04
.64
.26
.95

19.14
1.05
.70
.35
.94

16.68
1.02
.59
.33
.61

18.88
1.16
.67
.43
.76

19.21
1.17
.78
.39
.50

20.87
1.15
.76
.46
.63

18.68
1.07
.71
.52
.51

21.06
1.25
.89
.67
.68

20.97
1.21
.82
.50
.59

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

5.07
4.16
.91
3 14
5.00

5.70
4.85
.85
3.26
5.52

4.79
4.18
.62
2.92
4.82

5.50
4.74
.76
3.21
5.21

5.52
4.54
.98
3.33
5.19

6.46
5.34
1.12
3.84
5.78

5.55
4.78
.77
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

6.15
5.27
.88
3 97
5.76

7.09
5.97
1.12

7.32
6.14
1.18

210.48

2 10.54

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

138.11
61.41
28.19
33.22

144.25
61.41
28.72
32.86

148.88
65.67
30.42
35.25

153.83
69.44
31.99
37.45

do
do
do
do
do

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

82.68
4.45
3.35
2.67
2.44

83.21
4.95
3.28
2.30
2.55

84.39
4.84
3.27
2.02
2.36

do
do
do
do

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
21.30

25.35
21.19
4.10
14.19
22.07

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

27.92
23.15
4.78
17.07
24. 70

28.27
23.70
4.58

29.26
25.04
4.22

bil. $
do

do

-

_do
do
do
do
do
do
do

.do.. .
do

do.. do . .
do
do
do

1
Revised.
* Preliminary.
»
Estimates (corrected for systematic biases) for Apr.June 1978 and Jul.-Sept. 1978 based on expected capital expenditures of business. Expected
2
expenditures for the year 1978 appear on p. 32 of the June 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




'•241.80

2 42. 63

by consumers to business, and personal transfer payments to foreigners (net).
§Personal saving is excess of disposable income over personal outlays.
1 Data for individual durable and nondurable goods industries components appear in the
1
Mar., June, Sept., and Dec. issues of the SURVEY.

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