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SUKVEY OF CURRENT BUSINESS

September 1978

NATIONAL INCOME AND PRODUCT TABLES
1977
1976

1977

I

II

1978

III

IV

I

1977

II"

1976

1977

i

ii

Seasonally adjusted at annual rates

1978

in

rv

I

II'

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)
700.1 1,887.2 1,806.8 1,867.0 1,916.8 1,958.1 1,992.0 2,087.5 1,271.0 1,332.7 1,306.7 1,325.5 1,343.9 1,354.5 1,354.2 1,382.6

Gross national product
Personal consumption expenditures..

090.2 1,206.5 1,167.7 1,188.6 1,214.5 1,255.2 1,276.7 1,322.9

819.4

857.7

846.6

849.5

858.0

876.6

873.5

886.3

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

145.8
336.3
404.2

173.4

196.3

186.1

197.1

201.7

200.3

205.7

213.1

166.8

187.4

180.3

187.1

189.5

192.8

193.4

200.4

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

140.5
44.6
95.9

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

1.7

105.3
102.1
1.4
1.8

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

59.9
57.8
.8
1.4

16.7
16.9
-.2

20.1
22.1
-2.0

6.7
8.5
-1.9

8.9
9.4
-.5

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

12.7
13.9
-1.2

-23.2

-24.1

-5.5

15.4

9.5

11.2

11.0

12.5

3.1

2.9

11.3

180.8
187.8

172.1
195.2

181.7
205.8

205.4
210.9

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

108.4
97.1

399.5

412.5

416.7

424.7

262.8

269.2

262.8

267.9

271.7

274.5

272.1

271.9

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
48.6
277.6

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

174.8

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

Nonresidential
Structures
Producers' durable equipment..

164.6
57.3
107.3

190.4
63.9
126.5

180.6
59.3
121.4

187.2
63.4
123.8

Residential
Nonfarm structures
Farm structures
Producers' durable equipment..

68.2
65.8
1.1
1.3

91.9
88.9
1.5
1.5

81.6
78.6
1.6
1.4

Change in business inventories.
Nonfarm
Farm

10.2
12.2
-2.0

15.6
15.0
.6

Net exports of goods and services.

7.4

Durable goods
Nondurable goods..
Services

Fixed investment

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

197.8
519.3
605.8

313.5

322.7

345.4

300.5

306.0

325.3

193.5
65.4
128.1

200.3
67.4
132.8

205.6
68.5
137.1

220.1
76.6
143.5

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

10.3
11.1
-.8

17.0
16.5
.5

21.9
22.0
-.1

13.1
10.4
2.7

-11.1

-8.5

-5.9

-7.0

163.2
155.7

175.5
186.6

170.9
179.4

178.1
184.0

359.5

394.0

375.0

129.9
86.8
43.1
229.6

Gross private domestic investment.

183.5
501.4
591.8

145.1
94.3
50.8
248.9

138.3
91.9
46.4
236.7

142.9
93.7
49.3
245.9

1.3

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

1,700.1 1,887.2 1,806.8 1,867.0 1,916.8 1,958.1 1,992.0 2,087.5 1,271.0 1,332.7 1,306.7 1,325.5 1,343.9 1,354.5 1,354.2 1,382.6

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 2,067.4 1,264.4 1,323.8 1,300.9 1,315.5 1,331.7 1,347.1 1,341.8 1,369.9
12.7
12.2
7.5
12.3
10.2
10.0
17.0
13.1
20.1
15.6
10.3
21.9
16.7
6.7
5.8
8.9
627.7
912.2
576.5
611.8
800.2
620.1
832.6
844.7
608.4
604.4
613.3
859.6
861.8
596.0
760.3
825.8

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

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

892.1
20.1

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

615.0
12.7

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

375.8
365.0
10.8

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

266.6
260.2
6.4

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

536.4
527.1
9.3

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

361.2
354.8
6.3

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

952.0
223.4

583.0
111.6

602.9
121.3

5%. 3
114.5

598.8
122.3

606.9
123.7

609.6
124.8

620.1
122.3

625.6
129.3

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 housingHousing
Farm...
Statistical discrepancy...
Kesidual1
Households and institutions.
Government
Federal
State and localRest of the worldr

1,700.1 1,887.2 1,806.8 1,867.0 1,916.8 1,958.1 1,992.0 2,087.5 1,271.0 1,332.7 1,306.7 1,325.5 1,343.9 1,354.5
1,685.7 1,869.9 1,789.7 1,849.0
1,436.7 1,599.3 1,527.8 1,582.5
1,385.6 1,544.0 1, 474.9 1,528.0
1,255.0 1,397.8 1,335.2 1,384.0
130.6
146.2
139.7
144.1
46.9
50.5
49.5
50.8
4.2
4.7
3.4
3.7

56.5

62.7

60.0

61.3

,354.2 1,382.6

1,898.7 1,942.2 1,973.8 2,066.5 1,264.3 1,325.3 1,299.4 1,317.7 1,336.3 1,347.9 1,346.6 1,373.9
1,626.4 1,660.4 1,684.1 1,771.8 1,077.9 1,135.9 1,112.1 1,129.6 1,146.1 1,155.9 1,153.5 1,180.0
1,571.6 1,601.6 1, 628.9 1, 714. 9 1,040.1 1,094. 2 1,072.7 1,088.9 1,102.6 1,112.4 1,115.4 1,145. 2
961.7
998.1 1,026.5
996.4
976.1
988.0
980.5
1,423.2 1,449.0 1,471. 7 1, 553. 2 932.6
111.0
117.4
118.6
157.1
116.0
107.5
112.8
114.6
152.7
161.7
113.6
148.4
32.9
32.5
30.5
53.0
32.2
36.1
34.1
34.5
54.0
56.4
34.4
47.7
2.2
4.8
.5
7.1
4.3
7.4
7.3
9.0
5.5
5.6
6.4
6.6
63.5

65.9

68.8

70.5

40.7

42.2

41.2

41.7

42.5

43.6

43.8

44.3

149.4
48.8
100.6

149.6
48.8
100.8

7.5

8.8

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

14.4

17.3

17.1

18.0

18.1

15.9

18.2

21.1

6.8

7.3

7.4

7.8

7.6

6.6

Revised.

HISTORICAL STATISTICS
The national income and product data for 1929-72 are in The National Income and Documents; see addresses inside front cover). Data for 1973,1974, and 1975-77 are in July
Products Accounts of the United States, 1929-7$: Statistical Tables (available for $4.95, SN 1976, July 1977, and Ju;y 1978 issues of the SURVEY, respectively.
003-010-OOC52-9, from Commerce Department District Offices or the Superintendent of

272-247

0 - 7 8 - 2




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.

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

1976

1975
II

III

IV

I

II

1978

1977

III

IV

I

II

III

IV

I

Annual total
Seasonally adjusted quarterly totals at annual rates

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

. . _bil.$__ 1,528.8

Durable goods, total?
Motor vehicles and parts
Furniture and household equipment
Nondurable goods, total 9
Clothing and shoes
Food
Gasoline and oil—

964.9

994.0 1, 021. 6 1,053. 8 1,075.1 1,098.4 1,133. 7 1,167.7 1,188.6 1,214.5 1, 255. 2 1, 276. 7 1,322.9

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

408.9
70.1
209.6
39.5

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

437.5
64.5
150. 2
32.6

do
do
do
do
do
do
do

Services, total 9
Houshold operation
Housing
Transportation

1, 700.1 1,887. 2 1,498.6 1,564.0 1,598. 0 1,649. 7 1, 685.4 1, 715. 6 1,749.8 1,806.8 1,867.0 1,916.8 1,958.1 1, 992.0 2,087.5

132.6
53.4
58.0

491.0
72.8
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

979.1

Personal consumption expenditures, total..do

do
do
do
do

1,090. 2 1, 206.5

177.4
79.5
72.0

187.2
84.0
75.3

183. 5
84.1
72.1

197.8
92. 5
76.5

479.7
81.4
246.4
46.0

496.9
86.7
252. 6
47.5

501.4
82.9
257.7
48.3

519.3
87.5
267.8
49.1

539.4 I 557.5
83.7
78.0
182.1 I 186.9
43.5 I 45.0

571.1
84.6
192.0
47.3

591.8
89.6
198.1
49.7

605.8
89. 9
204.1
£2.1

175.6
81.2
69.9
473.6
79.3
244.5
46.2
1

190.9

243.0

297.8

175.2

206.8

203.9

231.5

243.5

249.9

247.1

272.5 i 295.6 | 309.7 ! 313. i

322.7

345.4

Fixed investment
Nonresidential
Structures
Producers' durable equipment

do
do
do
do

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

278.6
isae ! 187.2
59.3 I 63.4
121.4 I 123.8

i
i 193.5
j 65.4
I 128.1

300.5
200.3
67.4
132.8

306.0
205.6
68.5
137.1

325. 3
220.1
76.6
143.5

Residential
Change in business inventories
Nonfarm

do.
do.
do.

51.5
-10.7
-14.3

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

94.3
21.9
22.0

100.2
13.1
10.4

100.3
16.7
16.9

105.3
20.1
22.1

Net exports of goods and services
Exports
Imports

do.
do.
do.

20.4
7.4
147.3
163.8
126.9 S 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
16o.2
161.3

169.4
166.6

170.9
179.4

-5.9 ! -7.0
178.1 ! 180.8
184.0
187.8

-23.2
172.1
195.2

-24.1
181.7
205.8

-5.5
205.4
210.9

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

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

424.7
147.2
98.6
277.6

Gross private domestic investment, total..._do

338.4
123.1
83.7
215.4

359.5
129.9
86.8
229.6

do.
do.
do_
do.
do.
do.

1, 539. 6
686.6
259. 0
427.5
697.6
144.7

760.3
304.6
455. 7
778.0
161.9

do
do
do

-10.7
-8.9
-1.8

10.2
5.3
4.9

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
Goods, total
Durable goods
Nondurable goods
Services
Structures
Change in business inventories
Durable goods
Nondurable goods

262. 2 j

81.6 !
10.3 I
11.1

91.4 I

17.0 !
16.5 ;

1

1,871.6 1, 520.9 1, 559.4 1, 602.9 1, 638. 3 1, 670.1 1,701.0 !l,750.4 1,796.5 11,850.0 11,894.9 1,945.0 1,975. 3 2.067.4
861.8
892.1
859.
711.4
741.9
670.2
718.6
758.0
800.2
825.8 I 844.7
832.6
768.1
7681 ' 772.9
365. 0
351. 2
346.5 I 347.4
269.9
254.1
273.7
288.6
301.8
332. 2
339.1
312.4
315. 6
341.3
527.1
510.6
498.2 ! 512.2
441.5
453.4
416.1
444.9
456. 2
486.7
457. 3 468.0
491.3
455. 7
952. 0
926.4
706.1
875.3 ! 893.6
749.7
688.6
726.4
766.9
808.1
832. 3 850.0
787.1
862.8
223. 4
146.5
203.8
158.1
196.8 I 204.9
168.7
139.8
153.0
160.5
160.3
174.3
191.3
191.8
16.7
14.8
1.9

20.1
10.8
9.3

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 Jl, 325. 5 i 1,343.9 |1,354.5 1,354.2

1,382.6

15.6
8.4
7.2

-22.3
-10.9
-11.4

4.6
-3.5
8.0

-4.9
-8.6
3.7

11.4
.1
11.3

15.4
6.5
8.9

14.5
9.3
5.3

-.6
5.2
-5.8

10.3
6.1
4.2

17.0
9.1
7.9

21.9 !
11.9
10.0 I

13.1
6.3
6.8

GNP in constant (1972) dollars t
Gross national product, total t

bil.$__ 1,202. 3

Durable goods
do
Nondurable goods
do
Services
do
Gross private domestic investment, total...do

774.6

819.4

857.7

770.2

779.7

791.1

806.3 i 814.0

112.7
306.6 I
355.3 !

125.9 I 137.8
320.2 I 330.4
373.2
389.5

109.4
307.5
353.4

115.2
307.5
357.0

119.7
309.5
361.9

124.8
314.6
366.9

125. 2
318.2
370.6

125.3
320.5
375.1

i
i
I
I
!
|
I

142.6]
!
152.4
113.6
38.8
-9.8

173.4

133.3

153.7

148.9

168.5

174.7

Fixed investment.
Nonresident ial
Residential
Change in business inventories
Net exports of goods and services

do
do
do
do
.do

I

262.6 I

22.6 j

166.8
118.9
47.8
6.7

196.3

154.1
111.8
42.3
-5.2

161.0
115.5
45.5
7.5

876.6

873.5 | 886.3

136.9
329. 2
391.8

143.0
338.1
395. 6

186.1

177.1

Personal consumption expenditures, total..do

197.1 ! 201.7

200.3

137.8
145. 8
333.3
336. 3
402.4 I 404.2
205.7 ! 213.1

180.3
126.8
53.5

187.1
129.1
58.0
10.0

262.8
98.7
164.1

267.9
101.3
166.6

849.5 ! 858.0

820.9 1 836.2
128. 5
327.7
380.0

187.4
129.8
57.7
8.9

149.9
112.9
37.0
-16.7
24.7

22.8

22.2

16.5

16.1

16.1

13.1

269.2
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

136. 2
134.9
327.1 ! 327.2
386.0
384.6

15.4

151. 5
112. 0
39.5
2.1

164.6
117.8
46.8
10.1

167.8
121.0
46.8
9.3

173.6
121.4
52.3

11.0

I 189.5 i 192.8
| 130.8 I 132.5
I 58.8 i 60.3
| 12.2 I
7.5
12.5 i

3.1

193.4
133.8
59.5
12.3

200.4
140. 5
59.9
12.7

2.9

11.3

j

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

262.8
96.5 ! 96.6
166.2
166.1

r
Revised.
v Preliminary.
tRevised series. Estimates of national income and product
and personal income have been revised back to 1973 (see p. 16 ff. of the July 1977 SURVEY and




271.7 I 274. 5
102.9 i 103.6
170.9
168.8

272.1 | 271.9
101.2 | 97.1
170.8
174.8

p. 24 ft 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
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

1975

1977

1976

1975
I

IV

Annual total

September 1978

II

1977
III

IV

I

II

1978
III

IV

I

II

III

IV

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCTf—Con.
Quarterly Data Seasonally Adjusted
Implicit price deflators: f
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 .
Nonr^sidential
_
._
_.do
Residential
do
Govt. purchases of goods and services
Federal
State and local

do
do
do

Quarterly Data Seasonally Adjusted at Annual
National income totalf

133. 76
133.1
124.4
138.2
131.6

141. 61
140.7
129.5
145.0
141.0

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 '150.98
146.2
149.3
133.1
135.7
150.4
154.4
147.1 ' 149.9

132.3
132.2
132.8

139.6
138.4
142.5

150.6
146.7
159.4

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
162.2
153.6 ' 156. 7
168.6 r 175.7

128.9
127.5
129.7

136.8
134.4
138.1

146.3
142.7
148.5

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
156.2
149.6
151.5
155.2 ' 158.8

Rates
bil $

Compensation of employees total
Wafirps and salaries total
Govt and srovt entprorisps
Other
SiiDDlements to watrps and salarips

127.15
126.4
117.7
133.4
123.2

do
do
do
do
do

Proprietors' income with inventory valuation
and capital consumption adjustments,
total
bil $
Farm
do
N on farm
do
Rental income of persons with capital consumption adiustment
bil $
Corp. profits with inventory valuation and capital consumption adjustments, total
bil. $..
Corp. profits with invent, val. adj.:
Domestic total
do
Financial
do
Nonfinancial total Q
do
Manufacturing, total 9
-do
Durable gcods
do
Transportation, communication, and
electric, gas, and sanitary serv
bil. $_.
Rest of the world
do

1,215.0
931.1
805.9
175.4
630.4
125.2

1,359.2 1,515.3 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 '1,688.1
1,036.8 1,153. 4
890.1
983.6
187.6
200.8
702.5
782.9
146.7
169.8

967.8 1,001.7 1,026.0 1,046.1 1,073.3 1,107.9 1,140.5 1,165. 8 1,199. 7 1,241.0 '1,287.8
836.1
861.7
881.5
897.3
919.9
946.4
973.4
993.6 1,021.2 1,050.8 '1,090.2
186.1
192.6
198.1
208.1
211.4
188.1
201.7
213.9
181.3
183.7
195.2
695.4
709.2
727.2
775.3
813.1
839.3 ' 876. 3
678.0
791.9
654.8
751.2
140.0
144.6
148.8
153.4
167.1
172.2
178.4
190.2 ' 197. 6
131.7
161.5

87.0
23.5
63.5

88.6
18.4
70.2

99.8
20.2
79.5

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
86.1

22.4

22.5

22.5

22.5

22.5

22.4

22.4

22.8

22.5

22.4

22.4

22.7

22.8

22.2

144.2

110.3

126.8

128.6

130.0

122.5

129.9

143.7

154.8

148.2

132.6 ' 163.4

133.2
17.5
115.6
65.6
28.1

149.5
20.9
128 6
74.7
35.1

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 ' 168.9
24.3
22.7
116.6 ' 144. 6
87.8
69.8
46.1
32.8

9.2
6.1
120.4
49.8
70.6
31.9
38.7

13.7
8.2

16.1
9.6

12.7
5.9

12.4
8.9

14.9
8.2

13.3
8.2

15.4
9.7

14.5
10.4

17.5
10.3

17.1
7.9

155.9
64.3
91.7
37.9
53.8

173.9
71.8
102.1
43.7
58. 4

137.2
56.9
80.3
32.6
47.8

152.6
63.6
89.0
34.5
54.5

14.3
7.6
158.7
66.3
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

-12.4
-12.0
78.6

—14.5
—14.4
84.3

—14.8
-14.9
95.4

—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

—16.6
-14.8
93.7

177.5
72.8
104.8
44.1
60.6
—7.7
-15.0
97.3

178.3
73.9
104.4
46.3
58.1

do

Net interest

127.0

do
do
do
do
do

Profit*? bpforp tax total
Profits tax liabilitv
Profits after tax
Dividends
Undistributed profits

95.9
101.8
13.0
88 9
48.3
18.3

-14.8
-15.3
99.0

17.3
9.4

19.3
11.7

172.1 ' 205.5
70.0 '85.0
102.1 ' 120.5
47.0
48.1
55.1 r 79 A.
-24.9
—23.5
—16.1 -17.2
101.7 '104.6

DISPOSITION OF PERSONAL INCOMEf
Personal income total

bil $

Less: Personal outlays©
Equals* Personal savins^

do
do

1, 255. 5 1,380.9 1, 529. 0 1,305. 4 1,336. 9 1, 363. 2 1, 392.8 1,430.5 1, 470. 7 1, 508. 6 1, 543. 7 1, 593. 0 1,628. 9 '1,682.4
168 8
196 5
226.0
179 6
184.4
192 6
200 0
209 0
222 7
223 3
224 6
233.3
237 3 ' 249.1
1 086 7 1,184 4 1,303.0 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 6 1,433.3
1,003.0 1,116.3 1,236.1 1,046.0 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 '1,357.0
83.6
68.0
66.9
79.8
73.6
69.9
68.1
60.7
52.2
67.5
74.3
73.7
82.4 ' 7 6 . 3

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

bil. $
do
do
_do
.

112.78
47.95
21.84
26.11

120.49
52.48
23.68
28.81

135.80
60.16
27.77
32.39

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

' 37.89 137.60
' 16. 76 ' 17.13
'7.79
'7.94
'8.97
'9.18

143.66
20.45
9.56
10.89

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

17.44

14.91

17.04

.97
.62
.43

.92
.49
.26

.99
.68
.42

16.93
1.04

19.14
1.05

16.68
1.02

18.88
1.16

19.21
1.17

20.87
1.15

.78
.39

.93

.72

1.02

.95

.94

.61

.76

.50

.63

.51

' 21.13 ' 21.48
'1.22 ' 1 . 2 0
'.83
'.90
'.73
'.60
'.60
.59

23.20
1.28

.67
.43

.76
.46

18.68
1.07

.59
.33

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

5.70
4.85

4.79
4.18

5.50
4.74

5.52
4.54

.76

.98

3.26
5.52

2.92
4.82

3.21
5.21

3.33
5.19

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

.62

6.46
5.34
1.12
3.84
5.78

5.55
4.78

.85

7.32
'6.14
1.18

8.35
7.13
1.23

do
do
do
do

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

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

do
do
do
do
do

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

'Revised.
v Preliminary.
i Estimates (corrected for systematic biases) for JulySept. 1978 and Oct.-Dec. 1978 based on expected capital expenditures of business. Expected
expenditures for the year 1978 appear on p. 23 of the Sept. 1978 SURVEY.
2 includes communication.
fSee corresponding note on p. S-l.
9Inc'udes data for items not shown
separately.
©Personal outlays comprise personal consumption expenditures, interest paid




.64
.26

.70
.35

.77

.71
.52

.82
.56
.62

3.97
5.76

'7.14
'6.01
'1.13
4.56
6.18

210. 74

138.11 144.25
61.41 ' 61.57
28.19
28.72
33.22
32.86

' 150.76
' 67. 20
' 31.40
' 35.80

' 155.13
'68.66
' 32.11
' 36.54

158.98
73.62
33.89
39.72

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

' 83.56 ' 86.47
'4.81
'4.80
'3.64
'3.09
'2.97
'2.08
'2.23 '2.37

85.36
5.07
3.05
2.08
2.05

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
24.76

30.22
29.26
' 28.46
' 23.83 25.04
25.94
4.22
4.28
'4.62
18.18
24.71 2 42.63 2 42.21

2

11.57

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