Full text of The National Income and Product Account : Third Quarter 1954

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* BUSINESS STATISTICS

Wlontki

JL HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1953 Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $1.50) contains monthly data for the years 1949 to 1952, 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 1949. Series
added or revised since publication of the 1953 Supplement are indicated by an asterisk (*) and a dagger (t), 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 from private sources are pro-

Statistics originating in Government agencies are not copyrighted and may be reprinted freely,
vided through the courtesy of the compilers, and are subject to their copyrights.
1953
Unless otherwise stated, statistics through 1952 and
descriptive notes are shown in the 1953 Statistical Novem- DecemSupplement to the Survey
ber
ber

1954
January

February

March

April

May

June

Septem- October Novem- December
ber
ber

August

July

GENERAL BUSINESS INDICATORS
NATIONAL INCOME AND PRODUCT
Seasonally adjusted quarterly totals at annual rates :f
National income, total
bil. of dol
Compensation of employees, total
Wages and salaries, total
Private
Military--.
Government civilian
Supplements to wages and salaries

299.9

298 9

299.6

298.8

208 8
197.6
164 1
9.9
23 5
11.2

206 4
194.6
161 2

206 6
194.9
161 5

23 7
11.8

23 8
11.7

207.2
195.6
161. 6
9.6
24.4
11.6

49 1
25 9
12.3
10 8

49 4
25 6
13.0
10 8

49
25
12
10

33 1
32.5
17.4
15 1
.6
8.9

34. 1
34.5
17.0
17 5
— .4

34.9
34.5
17.0
17 5

9.0

4
9.1

do

360 5

355 8

356 0

355 5

do._
do
do
do

229. 7
28.0
118 7
83.0

230.5
28.0
118 8
83.6

233 1
28 8
120 0
84.3-

234.8
28 9

45 5
25.7
24 0
— 4.2

44 5
26.0
22 7
-4.2

45
27
22
—3

45
28
21
—4

3
3
8
8

75
47
42
97

6
9
1
7

do
do
do
do
do
_ do

Proprietors' and rental income,
totaled
do
Business and professionalcf1
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 _
Gross national product, total
Personal consumption expenditures, total
Durable goods _
._ _
_
Nondurable goods
Services
Gross private domestic investment, total
New construction .
__
.
Producers' durable equipment
Change in business inventories

do
do
do
do

Net foreign investment
_ d o __
Government purchases of goods and services, total
bil. of dol
Federal (less Government sales)
do
National security 9 _. __
_ do
State and local
do
Personal income total
Less: Personal tax and nontax payments
F.quals' Disposable personal income
Personal saving §
._

do
dodo
do

9.7

9.5

48.5
25 9
11.6
10 9

0
9
2
9

33
34
16
17

0

9.2

191 1

84.8

6
0
4
8

— .6

-1.1

— 1.0

86 0
59 8
50. 6
26 2

81
55
46
26

9
0
9
9

78
51
44
27

3
3
7
o

287 3
36. 1
251 2
21.5

285 1
32.8
252 3
21 8

9§5
32
252
19

7
9
9
7

9
2
8
4

2

.

286 2
32 9
>3 9
18 4

9=

PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:f
Total personal income
__

287.2

287 0

284 9

285 0

285 0

284 4

286 2

286 5

285 7

285 4

286 6

r

286 3

287 6

Wage and salary disbursements, total
do.-.
Commodity-producing industries
. _ do_
Distributive industries_ . _ _ . _ do
Service industries
do
Government
do

197.9
87.0
52.4
25.0
33 5

196.0
85.5
52.1
25 0
33 4

194.7
84.5
51 9
24 8
33 5

194. 7
84.6
51.8
24 9
33 4

194.5
84.2
52 0
25 0
33 3

194.3
83.7
52 0
25 2
33 4

195.0
84.2
52 3
25 2
33 3

195 5
84 0
52 5
25 5
33 5

195 7
83 4
53 1
25 4
33 g

195 5
82 7
52 8
25 8
34 2

195
82
52
25
34

4
4
9
9
2

r

196 1
82 9
r 52 9
26 1
r 34 2

197.4
83 8
53 0
26 3
34 3

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. ofdol..

6.6
49.1
23.7
13.9

6 7
50.2

23.8
14.4

6 6
49.6
23.9
14.8

6 6
49.6
23.9
15.0

6 6
48 9
23.9
15 8

6 6
48 2
24.0
15 9

6 6
49 4
24.0
15 8

6
49
24
15

6
47
24
15

6
48
24
15

6
48
24
16

6
8
4
0

r 1(J 5

4.0

4.1

4.7

4.8

4.7

4.6

4.6

4.6

4.6

bil. of dol

6
2
1
8

4.7

6
9
2
8

4.5

6
2
3
5

4.7

T

6 6
47 2
24 5

6
47
24
16

6
4
5
4

4.7

Total nonagricultural income
do
271.3
r 972 3
269 6
267 9
268 2
268 8
269 1
269 7
270 3
271 1
270 6
270 2
273 8
r
Revised.
tRevised series. Quarterly estimates of national income and product have been revised back to 1939 (annual data, to 1929): quarterly and monthly estimates of personal income, back to
19; '9 (monthly revisions prior to May ^1953 appear in the 1954 issue of the National Income Supplement). For quarterly data prior to 2d quarter 1953, see pp. 8 and 9 of the July 1954 SURVEY.
Includes inventory valuation
adjustment.
!„_...
j-.._x
^
£ Government sales are not deducted.
? Personal saving is excess of disposable income over personal consumption expenditures shown
a? a component of gross national product above.




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