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SURVEY OF CURRENT BUSINESS

6

August 1958

Table 2.—Gross National Product, National Income, and Personal Income, 1956, 1957, and First Two Quarters, 1958
[Billions of dollars]
Seasonally adjusted at annual rates
1956

1957

1956
I

1957
III

II

I

IV

1958

II

III

I

IV

II

GROSS NATIONAL PRODUCT
OR EXPENDITURE
419.2

Gross private domestic investment
Residential nonfarm
Other
Producers' durable equipment

--

Change in business inventories total
Nonfarm only

_

436.3

441.2

445.6

438.9

425.8

429.0

275.4

279.8

282.5

288.3

287.2

286.2

288.3

39.9
138.0
106.5

38.7
129.6
96.9

37.8
130.9
98.6

37.5
131.6
100.6

39.5
133.4
102.5

40.2
135.5
104.1

39.5
137.1
105.9

40.4
140.5
107.4

39.6
138.8
108.7

36.3
139.8
110. 1

35.6
141.4
111.3

65.3

68.0

67.7

68.1

68.8

65.9

67.0

66.7

61.5

49.6

49.2

36.5

35.2

35.8

35.8

36.2

36.1

36.1

36.6

37.1

36.3

34.9

17.0
19.5

17.8
17.4

17.7
18.1

17.6
18.3

17.7
18.4

17.2
18.9

16.5
19.6

16.9
19.7

17.6
19.6

17.1
19.2

16.2
18.7

27.0

27.9

25.9

26.6

27.3

28.2

28.7

28.1

28.0

26.7

22.9

22.3

5.4
5.9

-

430.5

269.7

35.7

_

New construction

420.5

267.2

68.2

--- --

414.9

265.2

17.7
18.1

Durable goods
Nondurable goods
Services

410.8

284.4

38.4
131.4
99.6

Personal consumption expenditure

440.3

269.4

Gross national product

1.0
.2

6.9
7.4

5.4
6.2

4.9
5.3

4.4
4.6

1.1
.6

2.9
2.0

2.2
1.3

-2.3
-3.1

-9.5
-9.3

-8.0
—7.8

1.4

National defense
Other national security

-

Other
Less' Government sales
State and local

2.0

2.8

4.2

4.2

3.6

1.9

.5

.5

86.8

83.4

86.4

87.5

87.0

88.3

89.5

90.9

50.8

46.1

46.0

47.4

49.1

50.5

51.5

50.9

50.5

50.9

51.9

46.5

41.2

41.4

43.0

44.5

45.8

47.4

46.9

46.0

45.6

46.0

44.3
2.2

39.1
2.1

39.1
2.3

41.0
2.0

42.1
2.4

43.7
2.1

44.9
2.5

44.9
2.0

43.9
2.1

43.7
1.9

44.1
2.0

4.8

5.4

5.0

4.7

5.0

5.1

4.5

4.5

5.0

5.7

6.2

.4

_-

1.3

78.7

.5

.4

.4

.4

.4

.4

.4

.5

.5

.4

.4

33.1

National security

-.5

78.1

5.0

Federal

3.5

40.3
2.2

_.

87.1

42.5

Go vernmen t purchases o f goods and services

80.3
47.1

Net foreign investment

36.3

32.0

32.7

33.4

34.4

35.9

36.0

36.1

37.8

38.6

39.1

NATIONAL INCOME
BY DISTRIBUTIVE SHARES
349.4

364.0

342.2

346.2

350.8

357.9

361.5

364.1

368.7

361.5

350.6

Compensation of employees

241.8

254.6

235.3

240.6

243.0

248.1

251.6

254.9

257.3

254.8

250.9

250.7

Wages and salaries

227.3

238.1

221.4

226.4

228.2

232.9

235.6

238.4

240.5

238.0

234.4

234.2

189.3
9.7
28.4

198.0
9.6
30.5

184.3
9.7
27.4

188.6
9.7
28.0

189.8
9.7
28.8

194.1
9.6
29.3

196.2
9.6
29.8

198.6
9.7
30.2

199.9
9.8
30.8

197.4
9.5
31.1

192.7
9.4
32.3

191.8
9.6
32.8

National income

- - __ _

Private Military
Government civilian

-

14.5

16.5

13.9

14.2

14.7

15.1

16.0

16.4

16.8

16.8

16.5

16.4

53.3

54.8

52.7

52.9

53.6

54.1

54.1

54.7

55.5

55.0

55.3

56.2

30.8
11.6
10.9

31.4
11.6
11.8

30.7
11.3
10.7

30.9
11.3
10.7

30.8
11.9
10.9

30.9
12.0
11.2

31.1
11.5
11.4

31.4
11.6
11.7

31.7
11.8
12.0

31.3
11.5
12.2

30.6
12.6
12.1

30.7
13.4
12.1

42.9

41.9

43.3

41.6

42.8

44.0

43.7

42.0

43.1

38.8

31.3

45.5

43.4

46.2

44.8

44.3

46.7

46.1

43.5

44.2

39.9

31.7

22.4
23.1

21.6
21.8

22.8
23.4

22.1
22.7

21.8
22.4

23.0
23.7

23.0
23.1

21.7
21.8

22.0
22.1

19.9
20.0

16.1
15.5

-2.6

-1.5

-2.8

-3.2

-1.5

-2.7

-2.4

-1.5

— 1.1

-1.1

-.3

.5

Net interest

11.3

12.6

10.9

11.1

11.4

11.7

12.1

12.5

12.8

12.9

13.0

13.1

Addendum: Compensation of general government employees

36.3

38.6

35.2

35.9

36.8

37.2

37.8

38.4

39.1

39.2

40.0

40.8

330.5

347.9

322.3

328.7

332.3

338.1

342.3

348.4

351.8

349.7

347.3

349.8

40.1

42.7

39.2

39.9

40.2

40.9

42.3

42.7

43.1

43.0

42.3

42.3

35.2
4.8

37.4
5.4

34.5
4.7

35.1
4.8

35.4
4.9

35.9
5.0

37.1
5.2

37.3
5.3

37.7
5.4

37.5
5.5

36.6
5.7

36.5
5.8

290.5

305.1

283.1

288.8

292.1

297.2

300.0

305.7

308.7

306.8

305.0

307.5

269.4

284.4

265.2

267.2

269.7

275.4

279.8

282.5

288.3

287.2

286.2

288.3

21.1

20.7

17.9

21.6

22.4

21.7

20.3

23.2

20.4

19.6

18.8

19.2

Supplements to wages and salaries
Proprietors' and rental income *

-

Business and professional
Farm _
Rental income of persons
Corporate profits and inventory valuation adjustment
Corporate profits before tax
Corporate profits tax liability
Corporate profits after tax
Inventory valuation adjustment

PERSONAL INCOME
AND ITS DISPOSITION
Personal income _
Less: Personal tax and nontax payments
Federal _ _ - _
State a n d local

___

Equals : Disposable personal income
Less: Personal consumption expenditures
Equals: Personal saving

. . _
-

__

__

1. Includes noncorporate inventory valuation adjustment.
Source: U. S. Department of Commerce, Office of Business Economics.




BUSINESS STATISTICS
JL HE STATISTICS here are a continuation of the data published in the 1937 edition of BUSINESS STATISTICS, biennial Statistical Supplement
to the SURVEY OF CURRENT BUSINESS. That volume (price $2) contains monthly (or quarterly) data for the years 1953 through 1956 and
monthly averages for all years back to 1929 insofar as available; it also provides a description of each series and references to sources of monthly
figures prior to 1953. Series added or significantly revised since publication of the 1957 BUSINESS STATISTICS are indicated by an asterisk (*) and a
dagger (f), respectively; certain revisions for 1956 issued too late for inclusion in the aforementioned volume appear in the monthly SURVEY
beginning with the July 1957 issue. Except as otherwise stated, the terms "unadjusted" and "adjusted" refer to adjustment for seasonal
variation.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely,
through the courtesy of the compilers, and are subject to their copyrights.

Data from private sources are provided

[Averages for the year 1957 are provided in the May 1958 issue of the SURVEY]
Unless otherwise stated, statistics through 1956 and
descriptive notes are shown in the 1957 edition of
BUSINESS STATISTICS

1957

June

July

August

1958

Septem- October November
ber

December

January

February

March

April

May

June

July

GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual ratesif
National income total
bil of dol
Compensation of Amployees total
\Vages and salaries total
Private
Military
Government civilian
Supplements to wages and salaries

do
do
do
do
do
do

Proprietors' and rental income totaled
do
Business and professional cf
do
Farm
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment total
bil of dol
Corporate profits before tax total
do
Corporate profits tax liability
do
Corporate profits after tax
do
Inventory valuation adjustment
do
Net interest

do

364 1

368 7

361 5

350 6

254 9

30 2
16.4

257 3
240 5
199. 9
9.8
30.8
16.8

254 8
238 0
197.4
9.5
31.1
16.8

250 9
234 4
192.7
9.4
32.3
16.5

250 7
234 2
191 8
9.6
32 8
16.4

54 7
31.4
11 6
11.7

55 5
31.7
11 8
12.0

55 0
31.3
11 5
12.2

55 3
30. 6
12 6
12.1

56 2
30.7
13 4
12. 1

42 0
43 5
21 7
21 8
-1.5

43 1
44 2
22 0
22 1
— 1. 1

38 8
39 9
19 9
20.0
-1. 1

31 3
31. 7
16 1
15. 5
-.3

.5

12 5

12 8

12 9

13 0

13 1

238 4
198 6

9.7

do

441 2

445 6

438 9

425 8

429 0

Personal consumption expenditures total
Durable goods
Nondurable goods
Services

do
do
do
do

282 5
39 5
137 1
105.9

288 3
40 4
140 5
107.4

287.2
39 6
138 8
108. 7

286. 2
36 3
139.8
110. 1

288 3
35 6
141.4
111.3

Gross Drivate domestic investment, total
New construction
Producers' durable equipment
Change in business inventories

do
do
do
do

67
36
28
2

66
36
28
2

61
37
26
—2

49 6
36 3
22.9
—9 5

49
34
22
—8

Gross national product total

Net foreign investment
do
Government purchases of goods and services, total
bil of dol
Federal (less Government sales)
do
National security 9
do
State and local
do

0
1
1
9

87
50
46
36

5
5
4
0

Personal income, total

do

Equals' Disposable personal income

do

Personal saving§

do

23 2

2
9
3
0

.5

.5

3
5
0
8

89.5
50 9
45 6
38 6

90.9
51 9
46 0
39 1

349 7
43 0
306. 8

347.3
49 3
305. 0

349.8
49, 3
307. 5

19 6

18 8

19.2

88
50
46
37

0
9
9
1

351 8
43 i
308. 7

348 4
42 7
305. 7

5
1
7
3

19

36

4 2
87
51
47
36

7
6
0
2

9

04

PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates :t
Total personal income
Wage and salary disbursements, total
Commodity-producing industries
Distributive industries- _..
Service industries
Government
_

bil. of dol
...

do
do
do
do
do

Other labor income
_
do
Proprietors' and rental income
do
Personal interest income and dividends
do
Transfer payments
___ do_ __
Less personal contributions for social insurance
bil. of dol. _

c

i S54. 3
358. 9

351. 8

352. 1

351. 4

350.6

350.2

348.4

348.2

346.4

347. 1

348.1

349.9

' 352. 0

1

« 240. 0
103. 4
63.9
32.6
40.2

240. 5
103.3
64.0
32 8
40.4

240.8
103. 1
64.2
32 9
40.6

240. 2
102.4
64.2
32.9
40.7

238. 6
101. 5
63. 5
32.9
40.7

238.0
101.0
63. 6
32.9
40. 5

237. 3
99 8
63. 7
33 2
40.6

235.1
97.9
63.5
33. 1
40. 7

233.2
05 6
63. 4
33. 2
41.0

232. 6
95.3
62. 9
33. 3
41.1

232.0
95. 0
62.4
33.4
41.2

233. 1
95. 6
62.6
33. 4
41.5

' 235. 8

1

9.0
54.9
31.6

21.8

9. 1
55. 6
31.7
21.7

91
55. 6
31.8
21.5

9.1
55.4
31.8
21. 5

9.2
55.1
31.8
22.6

9.2
54.8
31.8
23.0

9.2
55. 2
30. 0
23.3

9.1
55. 1
31.8
23. 9

9.0
5'"> 3
31.8
23.8

8.9
55. 7
31.7
24. 8

8.9
56.1
31.7
26.1

8.9
56.5
31.7
26. 4

6.6

6.7

6.7

6.6

6.6

6.6

6.6

6.7

6.7

6.6

6.6

6.7

« 350. 7

r 42. 4

242. 4
97. 1
63. 5
33 8
1
48.0

8.9
56. 2
31.8
26.0

56. 1
31.9
26. 5

6.7

7.0

r 96. 6
r 63. 3

33. 6

r

9.0

335. 6
332. 5
330. 5
331.0
336.1
335.2
336. 2
Total nonagricultural income
do
336.6
330.1
332.4 r 335. 1 1 342. 2
333.0
335.7
r
c
l
Revised.
Corrected.
Italicized total excludes and other footnoted figures include lump-sum retroactive salary payments to Federal employees; disbursements of $380 million
multiplied by 12 (to put on annual rate basis) amounted to $4.6 billion.
file-vised series. Estimates of national income"and"product and personal income have been revised back to 1946;
revisions beginning 1946 appear on pp. 12 IT. of the July 1958 S H R V E Y .
cf Includes inventory valuation adjustment.
9 Government sales are not deducted.
§Pcrs:onal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above.


474510°—58


S-l

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