Full text of The National Income and Product Account : Second Quarter 1951

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BUSINESS STATISTICS
JL HE DATA here are a continuation of the statistics published in the 1949 Statistical Supplement to the SURVEY OF CURRENT BUSINESS.
That volume (price $1.25) contains monthly data for the years 1945 to 1948, and monthly averages for earlier years back to 1935 insofar as available ; it also provides a description of each series and references to sources of monthly figures prior to 1945. Series added or revised since publication of the 1949 Supplement are indicated by an asterisk (*) and a dagger (f), respectively, the accompanying footnote indicating where historical
data and a descriptive note may be found. The terms "unadjusted" and "adjusted" used to designate index numbers and dollar values refer to
adjustment of monthly figures for seasonal variation.
Data subsequent to July 1951 for selected series will be found in the Weekly Supplement to the SURVEY.
Unless otherwise stated, statistics through
1948 and descriptive notes are shown in the
1949 Statistical Supplement to the Survey

1951

1950

July

August

September

October

November

December

January

February

March

April

May

June

July

GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT!
Seasonally adjusted quarterly totals at annual rates:
National income, total
bil. of dol
Compensation of employees total
do
Wages and salaries, total
do
Private
do
Military
do
Government civilian
do
Supplements to wages and salaries
do
Proprietors' and rental income,
total $ do
1
Business and professionalc?
do
Farm
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment, total
bil. of dol
Corporate profits before fax, total
__do
Corporate profits tax liability
do
Corporate profits after tax
do
Inventory valuation adjustment
do
Net interest
do

269.4
172.1
163.6
137.1

260.1
165.2
157.2
132.7

245.8
157.3
149.7
127.2
5.0

177 4
168 8
140 5

6.6

17.5

17.9

7.7

8.5

7.9

8 7
48 1
23 6
16.3
8 2

47.2
23.0
15.8

48.8
24.1
16.4

8.1

8.4

8.3

37.4
45.7
20.5
25.2
—8.3
55

42.2
50.3
22.5
27.8
—8.2

42.9
51.8
28.5
23.3
-8.9

5.6

5.6

—2.3
57

Gross national product, total
do
Personal consumption expenditures, total do
Durable goods
do
Nondurable goods
do
Services
do
Gross private domestic investment
do
New construction
do
Producers' durable equipment
do
Change in business inventories
do
Net foreign investment
do
Government purchases of goods and services,
total
bil. of dol
Federal (less Government sales)
do
State and local
do

287.4
202.5
34.3
105.5
62.7
47.3
23.5
24.5
—.7
o o

303.7
198.4
29.4
104.9
64.0
60.2
23.3
25.0
11.8
—2.7

318.5
208.2
31.5
111.5
65.2
59.6
23.9
26.5
9.3

325 6
201.7
25 9
109.5
66 2
63.5
22 3
26.7
14.4

40.8
21.2
19 7

47.8
27.3
20.4

52.9
31.9
21.1

60.0
38.5
21 4

Personal income, total
Less' Personal tax and nontax payments
Equals* Disposable personal income
Personal saving§

227.3
20 2
207 1
4 6

238. 3
23 1
215.2
16 8

244.1
26.6
217.5
93

250.0
27 1
222.8
21 1

45.6
23.2
14.3

do
do
do
do

-2.3

_ _ _

.5

PERSONAL INCOME, BY SOURCEf
Seasonally adjusted, at annual rates:
Total personal income
bil. of dol
Wage and salary receipts, total
do
Employer disbursements, total __ _ _ _ d o
Commodity -producing industries - do__
Distributive industries
do
Service industries.
do
Government
do
Less employee contributions for social insurance
bil. of dol__
Other labor income. __
__ do ._
Proprietors' and rental income
do
Personal interest income and dividends., do
Total transfer payments
do
Total nonagricultural income

do

222. 7
143.2
146.1
63.9
41.9
18.8
21.5

227.7
147.2
150.3
66.2
42 8
18.9
22.4

231.5
149.7
152.6
67.1
42 8
19.1
23.6

234.1
152.4
155.6
69.3
43.1
19.3
23.9

236.4
154.2
157.3
69.9
43.2
19.5
24.7

244.4
155.9
158. 9
70.8
43.6
19.6
24.9

243.6
158.0
161.6
71.7
44.3
19.9
25.7

243.3
160.0
163.4
72.4
44.5
19.8
26.7

245. 5
162.2
165.9
73.7
44.9
20.0
27.3

249.0
164.8
168.2
75.0
45.3
20.1
27.8

249.8
165.1
168.8
74.6
45.6
20.2
28.4

2.9
3.6
45.3
18.4
12.2

3.1
3.6
46.1
18.9
11.9

2.9
3.6
45.3
21.6
11.3

3.2
3.6
46.3
19.7
12.1

3.1
3.7
47.2
19.5
11.8

3.0
3.7
48. 1
25.0
11.7

3.6
3.7
50.5
18.8
12.6

3.4
38
48.2
19.2
12.1

3.7
3.8
47.7
19.7
12.1

3.4
3.8
48.1
20.2
12.1

3.7
3.8
48.0
20.2
12.7

204.0

208.6

212.9

214.3

215.5

223.4

221.4

222.9

225.2

227.8

229.0

' 251. 0
' 166. 4

«• 169. 9
75.2
r
45 6
-•20. 3
28.8

251 6
166.1
169 6
74 ^
Ar 7

20 2

on o

3.5
3.8
48 0
'20. 0
12.8

12.6

r 230. 1

299.2

r

3.5

q Q
AC\ q

19 8

NEW PLANT AND EQUIPMENT
EXPENDITURES
r
All industries, quarterly total
mil. of dol
4,700
5,830
6, 250
5,160
r
Manufacturing
_ do
2 460
2 050
2,790
3r 140
Mining
__
do._
200
180
180
200
r
Railroad
_ do
290
410
300
320
Other transportation
do__
120
120
140
140
r
Electric and gas utilities
do
820
750
890
940
r
Commercial and miscellaneous
.do
1,340
1,240
1,440
1, 470
r
Revised.
fRevised series. Quarterly estimates of national income, gross national product, and personal income and monthly estimates of personal income have been revised beginning 1948; for
these revisions and for earlier revisions (covering data for 1946-47), see tables 41, 43, 45, and 48 in part V of the National Income Supplement to the SURVEY, July 1951.
cf Includes inventory valuation adjustment.
§Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above.




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