Full text of The National Income and Product Account : Third Quarter 1947

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SURVEY OF CURKENT BUSINESS

December 1947

S-l

Monthly Business Statistics
The data here are a continuation of the statistics published in the 1942 Supplement to the SURVEY OF CURRENT BUSINESS. That volume
contains monthly data for the years 1938 to 1941, and monthly averages for earlier years back to 1913 insofar as available; it also provides a
description of each series and references to sources of monthly figures prior to 1938. Series added or revised since publication of the 1942 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 refer to adjustment of monthly figures for seasonal
variation.
Data subsequent to October for selected series will be found in the Weekly Supplement to the Survey.
Unless otherwise stated, statistics through
1941 and descriptive notes may be found
in the 1942 Supplement to the Survey

1947

1946

October

November

December

January

February

March

April

May

June

July

August

September

October

GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT *
Seasonally adjusted quarterly totals at annual rates:
National income
bil. of dol
Compensation of employees
do
Wages and salaries
do
Private
do
Military
_ _ _ _ _
do
Government civilian _
. _ _ __do_ _
Supplements to wages and salaries
do
Proprietors' and rental income-. _
do_ _.
Business and professional
do
Farm
do
Rental income of persons
do
Corporate profits and inventory valuation adjustment
bil. of dol
Corporate profits before tax
. do_ _
Corporate profits tax liability
do
Corporate profits after tax
do _
Inventory valuation adjustment _ .do_ _
Net interest
_ _
do

191.0
122.2
117. 1
98.0
5.6
13.5
5.1
46.7
22.0
17.8
7.0

197.6
124.9
119 4
101.5
4.6
13.3
5.4
47.0
22.4
17.6
7.0

200 1
126.3
120 9
103.5
4.1
13.2
5.5
47.2
21.9
18 0
7 2

(i)

18.8
27.1
11.0
16.1
-8.3
3.2

22.4
29.0
11.6
17.4
-6.6
3.3

23 3
27.4
10 8
16 6
—4.1
3.3

(i)
(i)
(i)
(i)
(i)

Gross national product
do
Personal consumption expenditures
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
bil. of dol
Federal (less Government sales)
do
State and local
do .

218.6
154.9
18.2
93.6
43.1
30.4
9.3
15.7
5.4
5.2

223.1
158 0
18 5
95.3
44 2
29 4
10.3
16 5
2. 7
83

229 1
162 0
19 2
97 8
45 0
29 1
$6
18 0
15
10 5

232
166
19
100
46
30
10
18
2
7

28.2
16.9
11.2

27 4
16 0
11.4

27 5
15 6
11 9

Personal income
do
Less: Personal tax and nontax payments do
Equals: Disposable personal income
_ _ do .
Personal savings § .__
___
do
PERSONAL INCOME*
Seasonally adjusted, at annual rates:
Total personal income..
bil. of dol
"W age and salary receipts, total.
do_ _
Total employer disbursements
do
C ommodity-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

187.5
19.5
168.0
13.1

190 9
21.2
169 7
11 7

192 3
21 4
170 9
89

Total nonagricultural income . _ ___ do
NEW PLANT AND EQUIPMENT
EXPENDITURES*
All industries, total
mil. of doL
Electric and gas utilities
do
Manufacturing and mining
. . _ _ do
Ptailroaddo. _
Commercial and miscellaneous
do
FARM INCOME AND MARKETINGS
Cash farm income, total, including Government
payments* _ ._
... _ _ mil. of dol
From marketings and C. C. C. loans*
do
Crops*
_
. . .
do
Livestock and products*
do
Dairy products*
.
do
Meat animals*
do
Poultry and eggs*
do. _

129.7
124 7
107 3

3.9

13.4

5.0
47.3
22 1
17 9
7 3

3 4

28 2
15 8
12 5
200
21
178
12

184.0
113.6
115.4
49.5
32.0
14.2
19.7

188.4
115.4
117.2
50.6
33.0
14.4
19. 2

189.9
117.0
118.8
52.3
33.5
14.4
18.6

190.3
117.1
119.2
53.1
33.5
14.6
18 0

190 7
117.5
119 6
53.2
33.7
14 6
18 1

191 8
117 5
119 6
53.7
33 7
14 6
17 6

190 2
116 7
118 9
53.2
33 4
14 8
17 5

191 5
118 3
120 4
54.1
34 2
14 9
17 2

195 1
121 1
123 2
55.5
35 3
15 2
17 2

196 1

1.8
1.6
45.3
13.3
10.2

1.8
1.6
47.6
13.5
10.3

1.8
1.6
47.2
13.7
10.4

2.1
1.6
46.6
13.9
11 1

2.1
17
46.8
14.0
10 7

2.1
17
47 7
14.0
10 9

2.2
17
46 9
14.0
10 9

2.1
18
46 9
14.0
10 5

2.1
18
47 6
14.1
10 5

2.1
18
47 8
14.2
11 1

2.1
18
45 9
14.3
10 4

162.7

165.6

167.3

168.2

168 5

168 8

167 8

169 2

171 9

172 3

173 1

3,730
360
1,920
180
1,280

3,401
3, 386
1,862
1,524
343
875
288

2,999
2,986
1,450
1,536
315
933
274

2,438
2,420
999
1,421
317
829
266

3, 160
330
1 600
160
1 080
2 284
2,248
918
1, 330
330
807
187

1,897
1,853
707
1,146
292
667
181

2 076
2,010
692
1,318
345
743
224

121 2
123 3
55. 1
35 5
15 4
17 3

2 026
1,989
621
1,368
379
705
9fi1

2 211
2,185
743
1,442
392
789
924

4
7
7
7

194 9
122 5
124 6

r 210 9

904 £>

r J24 5
T 1O(} A

1 9^1 n

56.2
35 7
15 3
17 4

r 57. 5
r 3ft 4

57.9
36 R

15 2
17 5

'2.1
1 8

r 48 4
r

!5.0
21 2

T Jigg }

3,940
450
2 010
220
1 260

1 974
1,914
594
1,320
345
726
2.26

3
0
9
0
1
4
4
0
0
7

2.1
50 9
14.9
1 7Q Q

4 070

510
2 010

290
1 250

2 6g2
2,657
1 205
1,452
382
7Qr

9/n

r

9 ci 7

T

o 060

2,505
1 187
1,318
353

3,049
1 4Q7

3.820

1,552

1, 638

929

944

224

OAO

Department of Commerce. For source and a brief description of the series on plant and equipment expenditures, see note marked "*"' on p/S-2 of the September 1947 Survey third quarter

of 1947 estimates
are based on anticipated capital expenditures of business. Revisions for January 1945-May 1946 for farm income are available on request; see note in September 1947 Survey
J
Digitized
forearlier
FRASER
regarding
data.
http://fraser.stlouisfed.org/
768643—47
Federal Reserve Bank of St. Louis