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SUEVEY OF 'CURRENT BUSINESS November 1956 Table 1.—National Income and Product, 1954, 1955, and First Three Quarters 1956 [Billions of dollars] Unadjusted 1954 1955 Seasonally adjusted at annual rates 1956 I II 1954 III 1955 1956 I II III IV I II III IV I II 295.8 296.7 297.6 303.1 311.3 321.9 328.3 334.4 334.9 338.7 209.7 233.0 III NATIONAL INCOME BY DISTRIBUTIVE SHARES National income • , . • 298.3 324.0 82.9 84.9 206.9 223.2 67.7 59.1 60.2 205.2 205.9 206.6 195.5 ' 161.2 10.0 24. .4 11.4 210.4 174.5 9.8 26.1 12.8 54.1 44.7 2.4 7.0 3.6 55.5 46.1 2.4 7.0 3.6 56.8 47.8 2.4 6.6 3.5 194.0 160.1 10.1 23.8 11.2 194.7 160.5 10.0 24.2 11.3 195.2 160.7 9.9 24.6 11.4 48.9 49.1 12.4 12.5 12.7 49.6 48.6 25.9 12.5 10.5 27.3 11.7 10.1 7.0 2.9 2.4 7.2 2.8 2.4 7.4 2.9 2.4 25.3 13.9 10.4 32.9 40.9 10.0 10.4 31.7 33.2 16.8 16.4 -.3 42.7 21.5 21.1 -1.7 10.8 5.4 5.3 -.8 11.1 5.6 5.5 -.7 -.3 31.9 16.1 15.8 -.2 9.7 10.8 2.9 2.9 3.0 32.2 33.9 9.0 9.0 360.7 390.9 98.4 236.5 254.0 62.5 29.4 120.9 86.3 35.7 126.2 92.1 48.0 27.9 13.5 14.4 22.4 -2.3 -2.7 Compensation of employees Wages and salaries • Private L '.._' Military Government civilian _ __ „ ._ 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 _ iNet interest _ _ Addendum: Compensation of general government employees. .. 213.9 221.6 226.8 230.3 237.2 240.4 198.1 163.3 9.8 24.9 11.6 201.6 166.7 9.7 25.3 12.2 209.0 172.9 10.0 26.1 12.6 213.6 177.5 9.8 26.4 13.2 217.0 180.5 9.7 26.8 13.3 219.4 182.5 9.6 27.3 13.6 223.5 186.2 9.5 27.8 13.8 226.2 188.3 9.5 28.5 14.2 48.7 48.6 48.6 49.5 49.0 49.3 49.5 49.9 50.7 25.9 12.1 10.6 26.0 12.1 10.6 26.2 11.8 10.5 26.5 11.8 10.3 27.1 12.2 10.2 27.7 11.3 10.0 28.0 11.4 9.8 28.2 11.5 9.8 28.9 11.3 9.7 29.5 11.6 9.7 32.7 32.5 34.7 38.5 40.2 41.6 43.4 40.9 39.8 32.9 16.6 16.3 -.2 32.8 16.6 16.2 -.3 35.2 17.8 17.4 —.6 39.7 20.0 19.7 -1.2 41.1 20.7 20.3 -.9 43.5 22.0 21.5 -1.9 46.4 23.4 23.0 -3.0 43.7 22.1 21.6 -2.8 42.9 21.7 21.3 -3.1 9.3 9.5 9.8 10.1 10.4 10.6 11.0 11.3 11.5 11.7 12.0 8.5 31.7 32.1 32.5 32.7 32.9 33.9 34.3 34.6 35.0 35.5 36.3 100.9 102.6 357.6 358.5 359.4 367.1 377.3 387.4 396.8 401.9 403.4 408.3 413.8 65.5 65.3 232.2 235.0 237.8 241.1 246.7 251.8 257.8 259.5 261.7 263.7 266.8 7.8 30.4 24.3 8.5 32.2 24.7 7.9 32.6 24.8 28.5 119.2 84.5 29.2 120.3 85.5 29.4 121.5 86.9 30.4 122.5 88.3 34.7 122.5 89.5 35.3 125.3 91.2 37.2 127.6 92.9 35.4 129.2 94.9 34.8 130.5 96.4 33.4 132.3 98.0 33.0 134.0 99.7 60.6 17.0 '15.2 17.1 45.8 48.2 46.7 51.5 54.7 60.2 62.3 65.1 63.1 '64.7 65.1 32.7 16.6 16.1 7.1 3.2 3.9 6.5 3.5 3.5 '8.4 '4.0 4.4 7.3 -.5 -.4 9.2 4.3 4.9 7.2 .6 .7 25.9 11.8 14.1 22.9 -3.1 -3.3 27.3 13.0 14.3 22.6 -1.7 -2.2 28.7 14.2 14.4 22.5 -4.5 -5.1 '29.5 15.0 14.5 21.7 .2 -.3 31.5 16.1 15.3 21.3 1.9 1.4 32.9 16.9 16.0 22.4 4.9 4.5 33.5 17.2 16.4 25.0 3.7 3.4 33.0 16.2 16.8 25.9 6.1 5.9 32.6 '33.6 15.3 '15.6 17.3 18.0 26.4 27.5 4.1 3.5 3.9 4.2 33.6 15.5 18.1 29.5 2.0 2.4 -.8 • GROSS NATIONAL PRODUCT OR EXPENDITURE Gross national product __ Personal consumption expenditures _ _ Durable goods _ . Nondurable goods Services 1__ __ iGross private domestic investment 1 ' ' 1 ! New construction _ Residential nonfarm Other Producers' durable equipment Change in business inventories, total Nonfarm only _ ._ . ^Net foreign investment -.4 11 .0 .3 .0 -.2 -.7 .3 -.4 -.9 .2 -.8 .1 '1.2 1.7 Government purchases of goods and services 76.5 76.8 19.0 19.9 20.3 80.8 75.5 75.6 74.2 76.3 76.2 76.5 78.1 78.5 78.7 80.2 48.9 43.0 41.1 1.9 6.3 .4 27.6 46.7 41.2 39.1 2.2 5.9 .4 30.1 11.6 10.1 9.6 .5 1.6 .1 7.4 11.5 10.2 9.7 .5 1.5 .1 8.4 11.8 10.5 10.0 .5 1.4 .1 8.5 54.0 46.5 44.7 19 7.8 .4 26.8 48.2 43.2 41.6 16 5.4 4 27.3 47.7 42.0 40.2 1.9 6.0 .4 28.0 45.7 40.1 38.0 2.1 5.9 .3 28.5 46.8 41.8 39.2 2 6 5.4 4 29.5 46.3 41.3 39.1 2 2 5.5 .4 29.9 46.6 41.3 39.4 1.9 5.8 .4 29.9 47.2 40.6 38.7 1.9 7.1 .5 30.9 46.4 40.5 38.6 1.9 6.3 .4 32.1 46.1 40.7 38.7 2.0 5.8 .4 32.6 47.2 41.9 39.9 2.0 5.7 .4 33.0 287.3 306. 1 78.3 80.2 81.8 284.9 285.6 286.9 291.4 295.1 303.8 309.6 314.6 317.5 322.9 327.0 32.9 29.1 3.8 35.5 31.3 4.2 10.2 9.0 1.2 10.4 9.1 1.3 9.6 8.5 1.0 32.7 29.0 3.7 32.8 29.0 3.8 33.0 29.1 3.8 33.3 29.4 3.9 34.5 30.4 4.1 35.3 31.2 4.1 35.9 31.7 4.2 36.3 32.0 4.3 37.3 32.9 4.4 38.1 33.6 4.4 38.8 34.1 4.6 Equals: Disposable personal income 254.4 270.6 68.1 69.9 72.2 252.3 252.8 254.0 258.0 260.6 268.5 273.8 278.4 280.2 284.9 288.2 Less: Personal consumption eppenditures 236.5 254.0 62.5 65.5 65.3 232.2 235.0 237.8 241.1 246.7 251.8 257.8 259.5 261.7 263.7 266.8 17.9 16.6 5.6 4.4 7.0 20.1 17.8 16.2 16.9 13.9 16.7 15.9 18.8 18.6 21.2 21.4 360.7 390.9 98.4 100.9 102.6 357.6 358.5 359.4 367.1 377.3 387.4 396.8 401.9 403.4 408.3 413.8 28.8 30.2 1.4 1.8 31.3 32.5 8.2 8.2 8.4 8.5 8.6 8.8 28.0 30.0 28.5 30.1 29.0 29.9 29.6 30.6 30.3 31.4 31.1 32.4 31.7 32.8 32.2 33.4 32.9 33.7 33.6 34.1 34.4 35.1 1.9 20 1.4 2.1 30 1.2 2.7 .6 1.1 1.1 -.2 .3 .2 .2 .2 -.5 .2 -.2 -.4 .2 .7 .1 .2 .7 .7 298.3 324.6 82.9 84.9 295.8 296.7 297.6 303.1 311.3 321.9 328.3 334.4 334.9 338.7 32 9 9.7 .0 40.9 11.1 .0 10.0 3.4 .0 10.4 3.4 .0 2.9 .0 31.7 9.6 .0 32.7 9.7 .0 32.5 9.7 .0 34.7 9.8 .0 38.5 10.6 .1 40.2 10.9 .5 41.6 11.3 -.6 43.4 11.4 .0 40.9 12.1 .0 39.8 12.3 .0 12.7 .0 15.0 5.2 10.0 1.4 16.1 5.2 11.2 1.4 4.3 1.2 2.9 .4 4.4 1.6 2.8 .4 4.2 1.4 2.8 .4 14.3 5.1 9.7 1.4 14.8 5.2 9.9 1.4 15.0 5.2 10.0 1.4 15.8 5.2 10.3 1.4 15.9 5.2 10.4 1.4 16.2 5.2 10.7 1.4 16.0 5.2 11.0 1.4 16.3 5.3 12.1 1.4 16.9 5.4 11.8 1.4 17.3 5.5 12.2 1.4 17.2 5.6 12.3 1.4 287.3 306.1 78.3 80.2 81.8 284.9 285.6 286.9 291.4 295.1 303.8 309.6 314.6 317.5 322.9 327.0 Federal National security National defense Other national security _ Other Less: Government sales State and local _ __ _ __. r -1.1 DISPOSITION OF PERSONAL INCOME Personal income Less: Personal tax and nontax payments Federal State and local - Equals : Personal saving RELATION OF GROSS NATIONAL PRODUCT, NATIONAL INCOME, AND PERSONAL INCOME Gross national product Less' Capital consumption allowances Indirect business tax and nontax liability Statistical discrepancy Plus: Subsidies less current surplus of government enterprises Equals * National income Less* Corporate profits and inventory valuation adjustment Contributions for social insurance Excess of wage accruals over disbursements Plus' Government transfer payments Net interest paid by government Dividends Business transfer payments Equals* Personal income r Revised. -- - - 1.8 1. Includes noncorporate inventory valuation adjustment. -1.0 -1.1 Source: U. S. Department of Commerce, Office of Business Economics. .9 BUSINESS STATISTICS J_ HE STATISTICS here are a continuation of the data published in BUSINESS STATISTICS, the 1955 Statistical Supplement to the SUKVEY OF CURRENT BUSINESS. That volume (price $2.00) contains monthly data for the years 1951 through 1954 and monthly averages for earlier years back to 1929 insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 1951. Series added or significantly revised since publication of the 1955 Supplement are indicated by an asterisk (*) and a dagger (f), respectively. 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. Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights. [Averages for the year 1955 are provided in the July 1956 issue of the SURVEY] Unless otherwise stated, statistics through 1954 and descriptive notes are shown in the 1955 edition of BUSINESS STATISTICS 1956 1955 Septem- October Novem- December ber ber January February March April May June July August Septem- October ber GENERAL BUSINESS INDICATORS NATIONAL INCOME AND PRODUCT Seasonally adjusted quarterly totals at annual rates:f National income, total bil. of doL- 328.3 334.4 334. 9 338.7 Compensation of employees, total do Washes and salaries, total __ do Private ___do Military do Government civilian do Supplements to wages and salaries do 226 8 213 6 177.5 98 26 4 13 2 230 3 217 0 180.5 9 7 26 8 13 3 233 219 182. 9 27 13 0 4 5 6 3 6 237 2 223.5 186. 2 9.5 27 8 13.8 240 4 226.2 188.3 9. 5 28 5 14.2 49 27 11 10 49 28 11 9 3 0 4 8 49 28 11 9 5 2 5 8 49.9 28 9 11.3 9 7 50.7 29 5 11.6 9 7 41 6 43 5 22.0 21 5 —1.9 11 0 43 4 46 4 23.4 23 0 —3.0 11 3 40 43 22 21 —2 11 9 7 1 6 8 5 39.8 42.9 21.7 21.3 -3.1 11 7 12 0 Proprietors' and rental income, totalcf 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 0 7 3 0 _ Q do 396 8 401 9 403 4 408.3 413 8 do do do do 257 8 37.2 127 6 92 9 259 5 35.4 129 2 94 9 261 34 130 96 7 8 5 4 263.7 33.4 132 3 98.0 266 33 134 99 Gross private domestic investment, total . do New construction do Producers' durable equipment - ._. do Change in business inventories do 62.3 33 5 25.0 37 65.1 33 0 25.9 61 63 1 32 6 26. 4 4 1 r 64. 7 r .2 — 8 76. 5 46.6 41 3 78 5 46.4 40 5 32 1 78. 7 46.1 40 7 32 6 80 47 41 33 Gross national product, total Personal consumption expenditures, total Durable goods _ ._ Nondurable goods Services _ - Net foreign investment do Government purchases of goods and services, total bil of dol Federal (less Government sales) . _ _ . do National security 9 do 33 6 27.5 _ . _ 35 r 8 0 0 7 65 1 33 6 29.5 20 . 1 7 12 do 29. 9 78. 1 47.2 40 6 30 9 Personal income, total Less: Personal tax and nontax payments Equals: Disposable personal income do do do 309 6 35.9 273 8 314 6 36.3 278 4 317 5 37 3 280 2 322 9 38.1 284 9 327 0 38 8 288 2 Personal saving § do 15.9 18.8 18 6 21.2 21 4 State and local _ ___ . 2 2 9 0 PERSONAL INCOME, BY SOURCE Seasonally adjusted, at annual rates :f Total personal income bil of dol Wage and salary disbursements, total do Commodity-producing industries __ _ . _ do Distributive industries - _- do Service industries do Government 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- - 311 0 311 6 314 5 317 5 316 7 317 1 318 6 321 7 322 8 324 9 324. 3 214.7 92.8 56.9 28. 7 36.3 215. 3 93.3 56.7 28 9 36.4 217.2 94.2 57.3 29 3 36 4 218.2 94.5 57.6 29 4 36.7 219.0 94.8 57.9 29 5 36 8 218.9 94.7 57.9 29 5 36 8 220 3 95. 1 58.4 29 6 37 2 222.9 96.8 59. 1 29 8 37 2 223. 2 96.8 59. 1 30 0 37 3 225.2 97.5 59.9 30 2 37.6 224.0 95.9 59.9 30 4 37.8 7.2 49.4 27.6 17.4 7.2 49.1 27.9 17.4 7. 2 49.6 28 1 17. 7 7 3 49.2 30 2 18.0 7 3 49.4 28 5 18. 2 7 2 49. 7 28 7 18.3 7 2 49. 5 28 8 18.5 7 2 49. 7 29 1 18.6 7 2 50. 1 29 4 18. 7 7.3 50.0 29 6 18.6 7.3 50.5 29.7 18.6 5.3 5.3 5.3 5.4 5.7 5.7 5.7 5.8 5.8 5.8 5.8 r 328. 1 328 5 227.1 98.3 60.3 30.6 37.9 227 7 98. 5 60 3 30 8 38 1 7.3 51.0 29 8 18.8 7 3 50 7 30 0 18.7 5.9 5.9 r 302. 8 295.9 296. 9 299.4 Total nonagricultural income. do 309.4 r 312. 8 301.6 301.5 304. 0 306.8 313.4 307.6 310.3 r Revised. fRevised series. Estimates of national income and product and personal income have been revised back to 1952 (see pp. 7 ff. of the July 1956 SURVEY); for data prior to 1952, see the 1954 NATIONAL INCOME SUPPLEMENT or the 1955 edition of BUSINESS STATISTICS. cf Includes inventory valuation adjustment. 9 Government sales are not deducted. §Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above. S-l
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