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SURVEY OF CURRENT BUSINESS

November 1978

NATIONAL INCOME AND PRODUCT TABLES
1977
1976

1977

II

1978
III

IV

I

II

1977

III'

1976

1977

II

III

1978

IV

I

II

Illr

Seasonally adjusted at annual rates

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)
Gross national product

,700.1 1,887.2 1,867.0 1,916.8 1,958.1 1,992.0 2,087.5 2,141.4 1,271.0 1,332.7 1,325.5 1,343.9 1,354.5 1,354.2 1,382.6 1,
1,394.2

Personal consumption expenditures-

Durable goods
Nondurable goods.
Services

,090.2 1,206.5 1,188.6 1,214.5 1,255.2 1,276.7 1,322.9 1,357.7
• 156.6
442.6
491.0

Gross private domestic investment.

Fixed investment
Nonresidential
StructuresProducers' durable equipment..
Residential.
Nonfarm structures
Farm structures
Producers' durable equipment..
Change in business inventories.
Nonfarm
Farm

178.4
479.0
549.2

175.6
473.6
539.4

177.4
479.7
557.5

187.2
496.9
571.1

183.5
501.4
591.8

197.8
519.3
605.8

199.4
532.0
626.3

819.4

857.7

849.5

858.0

876.6

873.5

886.3

895.5

125.9
320.2
373.2

137.8
330.4
389.5

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

144.7
340.6
410.2

243.0

297.8

295.6

309.7

313.5

322.7

345.4

350.6

173.4

196.3

197.1

201.7

200.3

205.7

213.1

210.8

232.8

282.3

278.6

287.8

300.5

306.0

325.3

336.8

166.8

187.4

187.1

189.5

192.8

193.4

200.4

201.6

164.6
57.3
107.3

190.4
63.9
126.5

187.2
63.4
123.8

193.5
65.4
128.1

200.3
67.4
132.8

205.6
68.5
137.1

220.1
76.6
143.5

227.9
81.3
146.6

118.9
38.3
80.6

129.8
40.0
89.8

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

141.9
45.8
96.1

68.2
65.8
1.1
1.3

91.9
88.9
1.5
1.5

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
1.3
1.7

105.3
102.1
1.4
1.8

108.9
105.7
1.5
1.7

47.8
46.0
.7
1.1

57.7
55.6
.9
1.2

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

59.9
57.8
.8
1.4

59.7
57.6
.8
1.3

10.2
12.2
-2.0

15.6
15.0
.6

17.0
16.5
.5

21.9
22.0
-.1

13.1
10.4
2.7

16.7
16.9
-.2

20.1
22.1
-2.0

13.8
14.8
-.9

6.7
8.5
-1.9

8.9
9.4
-.5

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

9.2
9.7
-.6

7.4

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

-11.1

-5.9

-7.0

-23.2

-24.1

-5.5

-6.6

15.4

9.5

11.0

12.5

3.1

2.9

11.3

11.3

163.2
155.7

Net exports of goods and services.

175.5
186.6

178.1
184.0

180.8
187.8

172.1
195.2

181.7
205.8

205.4
210.9

213.8
220.3

95.9
80.5

98.2
88.7

98.9
87.9

100.8
88.2

96.0
92.9

99.1
96.2

108.4
97.1

110.8
99.5

359.5

394.0

399.5

412.5

416.7

424.7

262.8

269.2

267.9

271.7

274.5

272.1

271.9

276.6

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

101.3

102.9

103.6

101.2

97.1

100.4

166.2

167.6

166.6

168.8

170.9

170.8

174.8

176.2

129.9
86.8
43.1
229.6

145.1
94.3
50.8
248.9

142.9
93.7
49.3
245.9

154.0
99.8
54.3
285.6

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 1,867.0 1,916.8 1,958.1 1,992.0 2,087.5 2,141.4 1,271.0 1,332.7 1,325.5 1,343.9 1,354.5 1,354.2 1,382.6 1,394.2

Gross national product

Final sales
Change in business inventories.
Goods-

1,689.9 1,871.6 1,850.0 1,894.9 1,945.0 1,975.3 2,067.4 2,127.6 1,264.4 1,323.8 1,315.5 1,331.7 1,347.1 1,341.8 1,369.9 1,385.0
12.2
12.3
9.2
7.5
10.0
10.2
20.1
6.7
12.7
17.0
13.1
13.8
21.9
16.7
15.6
8.9
611.8
912.2
576.5
928.5
613.3
620.1
627.7 630.8
608.4
604.4
859.6
832.6
844.7
861.8
760.3
825.8

Final sales
Change in business inventoriesDurable goods
Final sales
Change in business inventories.

750.1
10.2

817.0
15.6

808.8
17.0

822.8
21.9

846.5
13.1

845.1
16.7

892.1
20.1

914.6
13.8

569.8
6.7

599.6
8.9

594.3
10.0

601.1
12.2

612.7
7.5

599.4
12.3

615.0
12.7

621.6
9.2

304.6
299.3
5.3

341.3
332.9
8.4

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

380.6
370.6
9.9

236.2
232.5
3.6

253.7
248.0
5.8

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

265.0
259.1
5.9

Nondurable goods
Final sales.
Change in business inventories.

455.7
450.7
4.9

491.3
484.1
7.2

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

547.9
544.0
3.9

340.3
337.3
3.0

354.7
351.6
3.1

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

365.8
362.5
3.3

778.0
161.9

862.8
191.8

850.0
191.3

875.3
196.8

893.6
204.9

926.4
203.8

952.0
223.4

977.4
235.5

583.0
111.6

602.9
121.3

598.8
122.3

606.9
123.7

609.6
124.8

620.1
122.3

625.6
129.3

631.5
131.9

Services
Structures.

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product..
Gross domestic product
Business.
Nonfarm
_.
Nonfarm less housingHousing

Farm
Statistical discrepancy—.
Residual1

Households and institutions .
GovernmentFederal.
State and local.
Rest of the world.
p

1,700.1 1,887.2 1,867.0 1,916.8 1,958.1 1,992.0 2,087.5 2,141.4 1,271.0 1,332.7 1,325.5 1,343.9 1,354.5 1,354.2 1,382.6 1[,394.2
1,685.7 1,869.9 1,849.0 1,898.7 1,942.2 1,973.8 2,066.5 2,120.7 1,264.3 1,325.3 1,317.7 1,336.3 1,347.9 1,346.6 1,373.9 1[,385.8
1,436.7 1,599.3 1,582.5 1,626.4 1,660.4 1,684.1 1,771. 8 1,820.9 1,077.9 1,135.9 1,129.6 1,146.1 1,155.9 1,153.5 1,180.0 1,190. 7
1,385.6 1,544.0 1,528.0 1,571.6 1,601. 6 1, 628.9 1,714.9 1,759.4 1,040.1 1,094.2 1,088.9 1,102.6 1,112.4 1,115.4 1,145.2 1,151.6
998.1 1,026.5,1,031. 5
996.4
976.1
988.0
932.6
980.5
1,255.0 1,397.8 1,384.0 1,423. 2 1,449.0 1, 471. 7 1,553. 2 1,592.9
1186 120 1
118.6 120. 1
117.4
112.8
116.0
166.5
114.6
161.7
107.5
144.1
148.4
157.1
113.6
152.7
130.6
146.2
33. 1
30.5
32.5
34.1
58.5
36.1
56.4
32.2
34.5
50.8
47.7
53.0
34.4
46.9
54.0
50.5
3.0
.5
3.7
7.1
2.2
4.2
4.8
4.7
4.3
5.5
7.4
6.0
7.3
9.0
5.6
6.6
56.5

62.7

61.3

63.5

65.9

68.8

70.5

72.3

40.7

42.2

41.7

42.5

44.3

45.3

192.5
62.4
130.1

208.0
66.4
141.5

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

227.5
70.5
157.0

145.6
48.5
97.1

147.2
48.7
98.4

146.3
48.7
97.6

147.7
48.8
99.0

148.4
48.8
99.6

149.4
48.8
100.6

149.6
48.8
100.8

149.8
49.0
100.8

14.4

17.3

18.0

18.1

15.9

18.2

21.1

20.7

6.8

7.3

7.8

7.6

6.6

7.5

8.8

8.4

Revised.

HISTORICAL
The national income and product data for 1929-72 are in The National Income and
Products Accounts of the United States, 1929-7$: Statistical Tables (available for $4.95, SN
003-01O-O0C52-9, from Commerce Department District Offices or the Superintendent of




STATISTICS
Documents; see addresses inside front cover). Data for 1973,1974, and 1975-77 are in July
1976, July 1977, and Jmy 1978 issues of the SURVEY, respectively.

CURRENT BUSINESS STATISTICS

A 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
;ire 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

III

IV

I

II

1978

1977

1976

1975

III

I

IV

II

III

IV

I

II

III'"

Annual total
Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT!
Gross national product, totalf

bil.$_. 1,528.8

Personal consumption expenditures, total.-do

979.1

1,685.4

, 715. 6 1,749.8

•
, 806.8

867.0 1,916.8

, 958.1

992.0 2,087.5

141.4

994.0 1,021.6

053.8

1,075.1

, 098. 4 1,133. 7 , 167. 7

188.6

1,214.5

, 255. 2

276.7

1,322.9

357.7

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

197.8
92.5
76.5

199.4
89.7
79.0

1.700.1 1,887.2

564.0 1,598.0

1.090.2 1,206.5

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

do
do
do
do
do
do
do

132.6
53.4
58.0

156. 6
69.7
63.9

408.9
70.1
209.6
39.5

442.6
75.7
225.8
42.8

479.0
81.5
245.2
46.5

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

519.3
87.5
267.8
49.1

532.0
90.5
272.3
51.6

Services, total 9
Houshold operation
Housing
Transportation

do
do
do
do

437. 5
64.5
150. 2
32.6

491.0

549.2
81.6
184.6
44.2

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

605.8
89.9
204.1
52.1

626.3
93.3
209. 9
53.7

do.

190.9

297.8

206.8

203.9

231.5

243.5

249.9

247.1

272.5

295.6

309.7

313.5

322.7

345.4

350.6

336.8
227. 9
81.3
146.6

Gross private domestic investment, total

do
do
do
do

Residential
C hange in business inventories
Nonfarm

do
do
do

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

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

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

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
20.1
22.1

108. 9
13.8
14.8

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

-8.5
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

-5.5
205.4
210.9

-6.6
213.8
220.3

394.0
145.1
94.3
248.9

338.4
123.1
83.7
215. 4

220.1
157.7
56.4
101.3

-11.1
175. 5
186.6

20.4
147.3
126.9

208.8
151.5
54.7
96.8

342.2
123.6
84.2
218.7

351.5
127.9
86.2
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

416.7
151.5
97.9
265.2

424.7
147.2
98.6
277.6

439.6
154. 0
99. 8
285.6

do
do
do

Net exports of goods and services
Exports
Imports

202.3
149.7
54.0
95.7
52.6
4.6
1.1

Fixed investment
Nonresidential
Structures
Producers' durable equipment

325.3
220.1
76.6
143.5

By major type of product: f
Final sales, total
Goods, total
Durable goods
Nondurable goods
Services
Structures
Change in business inventories
Durable goods
Nondurable goods

do
do
do
do
do
do

282.3
190.4
63.9
126.5

201.6
150.2
53.8
96.4

1, 539. 6
686.6
259.0
427. 5
697.6
144.7

,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
859.6
844.7
825.8
800.2
772.9
741.9
758.0
711.4
718.6
768.1
347.4
346.5
339.1
332. 2
288.6
301.8
269.9
273.7
312.4 • 315.6
512. 2
498.2
486.7
468.0
457. 3
453.4
456.2
441.5
444.9
455. 7
875.3 893.6
832.3 850. 0
808.1
749.7
766.9
706.1
726.4
787.1
204.9
196.8
191.3
174.3
168.7
160.5
146.5
153.0
158.1
160.3
13.1
17.0
21.9
10.3
15.4
-.6
11.4
14.5
4.6
-4.9
6.3
9.1
11.9
6.1
6.5
5.2
.1
9.3
-3.5
-8.6
7. 9
10.0
4.2
8.9
-5.8
5.3
11.3
8.0
3.7
6.8

1,689.9
760.3
304. 6
455.7
778.0
161.9

bil.$._ 1, 202. 3

412.5
152.2
97.1
260.3

1,271.0

do
do
do

127.
975.3 2,067.4 2, 928. 6
5
861.8
912. 2
380.6
351.2
375.8
547.9
510.6
536.4
977.4
926.4
952.0
235.5
203.8
223.4
13.8
20.1
16.7
19.9
14.8
10.8
3.9
9.3
1.9

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

Personal consumption expenditures, total, .do

774.6

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

112.7
306.6
355.3

125.9
320.2
373.2

142.6

173.4

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
858.0
836.2
846.6
806.3 814.0
820.9
779.7
791.1

819.4

876.6

115.2
307.5
357.0
196.3

119.7
309.5
361.9

124.8
314.6
366.9

125. 2
318.2
370.6

125. 3
320.5
375.1

153.7

148.9

168. 5

174.7

177.1

Fixed investment
Nonresidential
Residential
Change in business inventories

do
do
do
do

152.4
113.6
38.8
-9.8

166.8
118.9
47.8
6.7

187.4
129.8
57.7
8.9

151.5
112.0
39.5
2.1

Net exports of goods and services

do

22.6

15.4

9.5

22.8

!
I
Govt. purchases of goods and services, total do
!
Federal
do.._.|
State and local
do
!

262. 6
96.5
166.1

262.8
96.6
166.2

263.8
96.7
167.2

154.1
111.8
42.3
-5.2
22 2

265. 7
97.3
168.4

r
Revised
p Preliminary.
tRevised series. Estimates of national income and product
and personal income have been revised back to 1973 (see p. 16 IT. of the July 1977 SURVEY and
p. 24 rT. of the July 1978 SURVEY); revisions prior to May 1977 for personal income appear on

128. 5
327.7
380.0

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

144.7
340. 6
410.2

173.4

186.1

197.1 I 201./

200.3

205.7

213.1

210.8

192.8
132.5
60.3

193.4
133.8
59.5
12.3

200.4
140.5
59. 9
12.7

201.6
141. 9
59.7
19.2

2.9

11.3

11.3

271. 9
97.1
174. 8

276.6
100.4
176. 2

o

180. 3
126.8
53. 5
5.8

187.1
129.1
58.0
10.0

189. 5
130.8
58.8
12.2

13.1

11.2

11.0

12.5

161.0
115. 5
45. 5
7.5

164.6
117.8
46.8
10.1

167.8
121.0
46.8
9.3

173.6
121.4
52. 3

16.5

16.1

16.1

264.3
96.2
168.1

263.2
95.9
167.3

262.5
96.8
165.7

, 354. 2 1,382.6 1, 394. 2
895.5
886.3
873.5

261.3
97.5
163.8

p. 36 of the July 1978 SURVEY.

262.8
98.7
164.1

101.3
166.6

271.7
102.9

274. 5
103.6
170.9

272.1
101. 2
170.8

9 Includes data for items not shown separately.

S-l
276-677 O - 78 - SI




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 BUSINESS STATISTICS

1977

1976

Annual total

1976

1975

IV

November 1978

I

II

1977

III

IV

GENERAL BUSINESS INDICATORS—Quarterly

I

II

1978

III

IV

I

II

III

IV

Series—Continued

NATIONAL INCOME AND PRODUCTf-Con.
Quarterly Data Seasonally Adjusted

nplicit price deflators:!
Im

Gross national product.__
Index, 1972=100..
Personal consumption expenditures
do—
Durable goods
do
Nondurable goods
do
Services
do
Gross private domestic investment:
Fixed investment
do
Nonresidential
do
Residential
do
Govt. purchases of goods and services
do.
Federal
do.
State and local
do.

127.15
126.4
117.7
133.4
123.2
132.3
132.2
132.8

132. 92
132.1
123.6
137.4
130.3

135.5
135.5
135.6

136. 7
136.6
137.2

138.5
137.7
140.7

140.3
142.6
138.9
140.5
143.8 I 147.6

145.4
142.5
152.3

148.9
145.0
157.6

146.3
142.7
148.5

136.8
134. 4
138.1

131. 40
130.7
122.0
136.8
128.4

150.6
146.7
159.4

139.6
138.4
142.5

128.9
127.5
129.7

134. 39 136. 28 138. 27 140. 86
139.9
133.8
137.9
135.6
128.4
128.9
125.0
126.8
142.4
144.7
138.7
139.9
137.4
139.7
132.5
134.9

141. 61 130.14
129.1
140.7
119.9
129.5
136.2
145.0
126.2
141.0

133.76
133.1
124.4
138.2
131.6

132.3
131.4
132.8

134.0
132.1
135.0

135.7
133.3
137.1

137.3 I 140.2
134. 2
138. 0
139.1
141. 5

142.7
140.1
144.3

145.1
141.1
147.6

142. 63 144. 56
143.2
141.6
130.9
129.5
147.0
145.7
144.4
142.3

147.10
146.2
133.1
150.4
147.1

150.98 '153.59
149.3
151.6
135.7
137.8
154.4 ' 156.2
149.9
152.7

151.9
147.9
160.6

155.9
151.2
166.1

158.2
153.6
168.6

162.2 ' 167.1
156.7 ' 160. 6
175.7 ' 182. 5

147.1
142.7
149.7

150.3
146.9
152.3

153.2
149.6
155.2

156.2
158.9
151.5 ' 153.4
162.1
158.8

Quarterly Data Seasonally Adjusted at Annual Rates
National income, totalf
Compensation of employees, total
Wages and salaries, total
-

Govt. and govt. enterprises
Other
Supplements to wages and salaries

do

do
do
do
do

I

Proprietors' income with inventory valuation
and capital consumption adjustments,
total
bil. $_.
Farm
do
Nonfarm
do
Rental income of persons with capital consumption adjustment
bil. $..
Corp. profits with inventory valuation and capital consumption adjustments, total
bil. $..
Corp. profits with invent, val. adj.:
Domestic, total
do
Financial
do
Nonfmancial, total 9
do
Manufacturing, total 9
do
Durable goods
do
Transportation, communication, and
electric, gas, and sanitary serv bil. $. _
Rest of the world
do
Profits before tax, total
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment
Capital consumption adjustment
Net interest

Seas. adj. qtrly. totals at annual rates:
All industries
Manufacturing
Durable goods industriesif
Nondurable gcods industries^
Nonmanufacturing
Mining
Railroad
Air transportation
Other transportation
Public utilities
Electric
Gas and other
Communication
Commercial and other

1,036.8 1,153. 4
983. 6
890.1
200.8
187.6
702.5
782.9
146. 7
169.8

931.1
805.9
175.4
630. 4
125.2

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 1,316.9
993. 6 1,021. 2 1,050.8 1,090.2 '1,113.2
881.5
897.3
919.9
946.4 973. 4
861.7
836.1
213.9
198.1
216.8
208.1
211.4
186.1
201.7
188.1
192.6
195.2
181.3
183.7
876.3
775.3
896.4
813.1
839.3
695.4
751.2
791.9
709.2
727.2
654.8
678.0
197.6
167.1
203.7
178.4
144. 6
190.2
161.5
172.2
148.8
153.4
131.7
140.0

•87.0
23.5
63.5

88.6
18.4
70.2

20.2
79.5

91.2
25.1
66.1

22.4

22.5

22.5

22.5

20.9
67.7
22.5

87.4
16.9
70.5

89.5
16.3
73.2

95.6
19.4
76.1

20.0
78.9

97.2
16.5
80.8

22.4

22.4

22.8

22.5

22.4

22.4

105.0
21.9
83.1

110.1
24.0
86.1

114. 5
"25.0
'89.5

22.8

107.3
25.1
82.3

22.2

'24.3

95.9

127.0

144.2

110.3

126.8

128.6

130.0

122.5

129.9

143.7

154.8

148.2

132.6

163.4

168.4

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
22.7
116.6
69.8
32.8

168.9
24.3
144.6
87.8
46.1

176.3
26.0
150.2

9.2
6.1

13.7
8.2

16.1
9.6

12.7
5.9

12.4
8.9

14.9
8.2

14.5
10.4

17.5
10.3

17.1

17.3
9.4

19.3
11.7

11.4

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

137.2
56.9
80.3
32.6
47.8

152.6
63.6
89.0
34.5
54.5

157.8
64.7
93.1
38.4
54.7

13.3
8.2
154.6
62.4
92.2
41.4
50.8

15.4
9.7

do..
do..
do_.
do..
do..

14.3
7.6
158.7
66.3
92.4
37.2
55.2

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
58.1

172.1
70.0
102.1
47.0
55.1

205.5
85.0
120.5
48.1
72.4

208.6
86.6
122.0
50.1
71.9

do.
do.
do.

-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

-7.7
-15.0
97.3

-14.8
-15.3
99.0

-23.5
-16.1
101.7

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
16.76
7.79
8.97

i 37. 60
17.13
7.94
9.18

19.21
1.17
.78
.39
.50

20.87
1.15
.76
.46
.63

18.68
1.07
.71
.52
.51

21.13
1.22
.83
.60
.60

21.48
1.20
.90
.73
.59

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

7.14
6.01
1.13
4.56
6.18

7.32
6.14
1.18
2 10. 74

130.16 134.24
56. 43 59.46
26. 30 27.26
30.13
32.19

140. 38
63.02
29.23
33.79

138.11
61.41
28.19
33.22

144.25
61.57
28.72
32.86

150.76
67.20
31.40
35.80

155.13
68.66
32.11
36.54

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

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
.97
.62
.43
.93

14.91
.92
.49
.26

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

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
.85
3.26
5.52

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

do.
do.
do.
do.

do.
do.
do.
do.
do.

33.73
14.84
6.79
8.06
18.88
1.16
.67
.43

112. 78
47.95
21.84
26.11

do.
do.
do. .
do.
do.

do
do
do
do
do

-24.9 -20.9
-17. 2 -19.3
104.6 ' 107.1

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 1,730.6
233.3
249.1 ' 263.1
237.3
223.3
224.6
192. 6
209.0
222.7
200.0
226. 0
179.6
184.4
196. 5
168. 8
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 1,467.5
1, 285.9 1, 309. 2 1,357.0 1,393.4
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
74.1
73.7
76.3
74.3
82.4
67.5
60.7
68.1
52.2
79.8
69.9
66.9
73.6
83.6
68.0

4.79
4.18
.62 !
2.92 i
4.82

5.50 |
4.74 I

.76 j
3.21 |
5.21 !

118.12 i 122.55 125. 22
50.64 ! 54.78 i 54.44
22.54
24.59 I 25.50
28.09
30.20 i 28.93

111.80
46.82
21.07
25.75
j
j
|
I

j
'
!

!
!
I

114.72
49.21
21.63

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

83.56
4.81
3.09
2.08
2.23

86.47
4.80
3.64
2.97
2.37

20.91
17.92
3.00
12.22
20.44

21.91
18.56
3.36
12.54

21.85
18.82
3.03
12.62

21.67
18.22
3.45
13.64
20.99

23.46
19.49
3.96
14.30
21.36

25.35
21.19
4.16
14.19
22.67

25.29
21.14
4.16
15.32
22.73

26.22
21.90
4.32
16.40
23.14

26.23
22.05
4.18
15.82
23.27

27.92
23.15
4.78
17.07
24.76

28.46
23.83
4.62
18.18
24.71

29.26
25.04
4.22

27.58

20.68 I 20.94

'Revised.
v Preliminary.
E s t i m a t e s (corrected for systematic biases) for JulySept. 1978 and Oct.- Dec. 1978 based on expected capital expenditures of business. Expected
2
expenditures for the year 1978 appear on p. 23 of the Sept. 1978 SURVEY.
Includes communication.
!See corresponding note on p. S-l.
9 Includes data for items not shown
separately.
©Personal outlays comprise personal consumption expenditures, interest paid




88.8
19.6
69.3

101.8
13.0
88.9
48.3
18.3

DISPOSITION OF PERSONAL INCOME!
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:
All industries
bil. $.
Manufacturing
do...
Durable goods industriesif
do._.
Nondurable gcods industries^
do...
Nonmanufacturing
.do.
Mining
-do.
Railroad
.do.,
Air transportation
.do.
Other transportation.
.doPublic utilities
Electric
Gas and other
Communication
Commercial and other

1,359.2 1,515. 3 1,271.8 1,319.8 1,347.9 '1,372.1 j 1,397.0 1,447.5 1,499. 3 1,537.6 1,576.9 1,603.1 1,688.1 1, 731. 0

bil. $..! 1,215.0

: 42. 63

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 tne
Mar., June, Sept., and Dec. issues of the SURVEY.

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