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UNITED STATES DEPARTMENT OF COMMERCE V7. AVERELL HARRIMAN, Secretary OFFICE OF BUSINESS ECONOMICS AMOS E. TAYLOR, Director NATIONAL INCOME AND PRODUCT STATISTICS OF THE UNITED STATES 1929-46 Prepared by the NATIONAL INCOME DIVISION Milton Gilbert, Chief For sale by th« Superintendent of Documents, U* S, Government Printing Office Washington 25, D. C - Pri«o 2 5 coats CONTENTS Fast 2 6 8 The National Economy and Major Economic Sectors Relation of the Accounts Definitions of Concepts and Terms Terminology Used Changes in Content of National Income Aggregates Note on Industrial Classification Page 10 11 17 LIST OF TABLES * Text Tables I, National Income and Product Account, 1939 I I . Consolidated Business -Income and Product Ac count, 1939 -I I I , Consolidated Government Receipts and Expendi tures Account, 1939 IV. Rest-of-the-World Account, 1939 V. Personal Income and Expenditures Account, 1939__ 2 3 4 4 5 VI. Gross Saving and Investment Account, 1939 VII. Reconciliation of New and Old Series of Gross National Product, National Income, and Per sonal Income, 1929-46 VIII. Industrial Classification for National Income Esti mates 14 18 Statistical Tables 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. National Income by Distributive Shares, 1929-46 Gross National Product or Expenditure, 1929-46 Personal Income and Disposition of Income, 1929-46-Relation of Gross National Product, National Income, and Personal Income, 1929-46 _. Sources and Uses of Gross Saving, 1929-46 Liquid Saving Estimates of the Securities and Excliange Commission and their Reconciliation with Personal Saving Estimates of the Department of Commerce, 1933-46 Consolidated Business Income and Product, 1929-46.. Government Receipts, 1929-46 Government Expenditures, 1929-46 Social Insurance Funds, 1928-46. -. Transactions of the Rest of the World with the United States, 1929-46 National Income by Legal Form of Organization, 1929-46... National Income by Industrial Origin, 1929-46 Wages and Salaries, by Industry, 1929-46 Supplements to Wages and Salaries, by Industry, 1929-46 Income of Unincorporated Enterprises, by Industry, 1929-46 — Corporate Profits before Federal and State Income and Excess Profits Taxes, by Industry, 1929-46 Federal and State Corporate Income and Excess Pro fits Tax Liability, by Industry, 1929-46 Corporate Profits after Federal and State Income and Excess Profits Taxes, by Industry, 1929-46 Net Corporate Dividend Payments, by Industry, 1929-46 Undistributed Corporate Profits, by Industry, 1929-46. Inventory Valuation Adjustment, by Industry, 192946 Net Interest, by Industry, 1929-46.. — Number of Full-time Equivalent Employees, by In dustry, 1929-46. Average Number of Full-time and Part-time Em ployees, by Industry, 1939-46 _ 36 26. Average Annual Earnings per Full-time Employee, by Industry, 1929-46 27. Number of Active Proprietors of Unincorporated Enterprises, by Industry, 1929-46 28. Number of Persons Engaged in Production, by Indus try, 1929-46 29. Corporate Sales, by Industry, 1929-46 30. Personal Consumption Expenditures, 1929-46 31. New Construction Activity, 1929-46 32. Producers' Durable Equipment, 1929-45 33. Net Change in Business Inventories, 1929-46 34. Supplements to Wages and Salaries, 1929-46 _ 35. Employee Contributions for Social Insurance, by Type, 1929-45 36. Transfer Payments, 1929-45 37. Monetary and Imputed Interest, 1929-46 _ 38. Reconciliation of Department of Commerce Estimates of Corporate Profits with Bureau of Internal Reve nue Tabulations, 1929-43 u 39. Major Items of Personal Income and Personal Con sumption Expenditures in Kind, 1929-46.." 40. National Income by Distributive Shares, Quarterly, 1939-46. 41. National Income by Distributive Shares, Seasonally Adjusted Quarterly Totals at Annual Rates, 1939-46. 42. Gross National Product or Expenditure, Quarterly, 1939-46 43. Gross National Product or Expenditure, Seasonally Adjusted Quarterly Totals at Annual Rates, 19394644. Disposition of Personal Income, Quarterly, 1939-46 45. Disposition of Personal Income, Seasonally Adjusted Quarterly Totals at Annual Rates, 1939-46 46. Relation of Gross National Product, National Income, and Personal Income, Quarterly, 1939-46 47. Relation of Gross National Product, National Income, and Personal Income, Seasonally Adjusted Quarterly Totals at Annual Rates, 1939-46 37 48. Personal Income, Seasonally Adjusted M o n t h l y Totals a t A n n u a l Rates, 1929-46 19 19 19 20 20 20 21 21 23 23 24 25 26 27 28 29 30 30 31 32 33 34 35 38 39 40 41 41 44 45 45 45 46 46 46 47 47 48 48 49 49 50 50 51 51 52 •Ail annual tables are carried in millions or dollars or thousands of poreons. Thfs"proccduie is followed in preference to further rounding because many of tbe detailed esti mates would be distorted by such rounding and because of the inconvenience of numerous rounding discrepancies in using tbe tables. On theother band, quarterly and monthly tables are carried in ten tits of billions since they arc in loss detail. Needless to say, tbe number of digits shows has no implication for the degree or accuracy. National Income and Product Statistics of the United States, 1929-46 r p H I S REPORT presents a basic revision of the esti-*■ mates of national income and national product and their component series,1 parts of which have appeared in preliminary form in the SURVEY OF CURRENT BUSI NESS 2 during the past few years. The revision was designed to accomplish three objectives: (1) to com plete the setting up of the whole body of national income statistics as an interrelated and consistent system of national economic accounting, 3 (2) to improve the sta tistical procedures used in estimating all the series and to base them on the latest source data, and (3) to incor porate a number of changes in the basic aggregates so as to achieve more generally useful and clear-cut defini tions of national income and national product. The definitions and presentation of the statistics were worked out in consultation with technicians from other countries in order to promote international comparability of na tional income statistics. * 5 1 Tho revisions have been incorporated in all scries except income payments by States. Current personal income data will be published monthly on page S-I of the SURVEY OF CUKKENT BUSINESS. Estimates keeping the other tables up to date will be released periodically in the SURVEY. It will not be possible to introduce tbc revi sions into the State data for 1940 to be published shortly. The State estimates will bo reworked at a later date ict conformity with tbc changes introduced into the national estimates. The present State income payment series is described In: Charles F. Schwartz and Robert E. Graham, Jr., State Income Payments in, 1045, SURVEY OF CURRENT BUSINESS., August 1916. 1 See Edward F, Denison, Consumer Expenditures for Selected Groups of Services, 1920-41, October 1912, Revised Estimates of Wages and Salaries in t lie National Income, 1020-13, June 1919, and extension of the latter estimates, October 1040; William H. Shaw, The Gross Flow of Finished Commodities and New Construction, 1929-41, April 1942 and Consumption Expenditures, 1629-43, June 1941; Dwight B. Yntcma, Rents in the United States, 1D29-44, March 1946; and Gardner F. Dorrickson, Trend ol Corporate Profits, 1929-fS, April 1916. > For previous stops in this process see Milton Gilbert and R. B. Bangs, Preliminary Estimates of Gross National Product, 1929-41, SURVEY OF CURRENT BUSINESS, May 1942; Milton Gilbert and George Jsssti, National Income and National Product in 1942, told., March 1&S3; and Milton Gilbert and George Jaszi, National Product and Income Statistics, Dun's Review, February 1944 (reprinted in Readings in tho Theory ot In come Distribution, published for the American Economic Association by BJnkiston, IMG). < A report on our discussions with British and Canadian experts was presented to the Conference on Research in Income and Wealth by Edward P. Denison. It win be published shortly in vol. 10 of the Conference series by the National Bureau of Economic Research. For the recommendations of a larger international group of exparts, see Measurement of National Income and the Construction of Social Accounts, a. Report of the Sub-Committee on National Income Statistics, League of Nations, Princeton, N. J. (mimeographed), now in process of publication by tho United Nations Secretariat. * For a review of the extent to which the national income statistics being issued by five English-speaking countries are based on a common viewpoint, see I. R. N. Stone, National Income and Expenditure: A Review of the Official Estimates of Five Coun tries, The Economic Journal, June 1947. The results constitute far more than a routine revision. For in addition to statistical refinements, the data have been cast into a theoretical mold which, we believe, constitutes a major improvement in the structure of national income statistics. Considerable new informa tion has been provided, particularly the complete ac counts for the major sectors of the economy and the distribution of national income by legal form of organi zation. A much improved and more detailed industrial classification has been adopted and extended back through the estimates to the year 1929.a In general,. the new series have been computed with better articu lation of detail, not only in the interest of statistical accuracy, but to clarify the meaning and content of the aggregates and to provide an expanded body of data for analytical purposes. The net effect of the changes made in the estimates has been to raise the level of the national income and the other basic aggregates. For the period before the war the increases are of relatively small magnitude but for the war period they reach sizeable proportions. To some extent the numerical changes have resulted from statistical revisions—that is, the incorporation of later source data and of improved estimating procedures—but primarily they have been due to changes in definition. These changes are listed, and their quantitative impor tance shown, in a subsequent section of this report. With respect to the estimates for recent years, it should be recognized that the most complete and accu rate source materials become available only after con siderable lapse of time. During that interval, the De partment of Commerce prepares estimates for all the component series on the basis of the partial information available. These estimates must be subject to revision until the basic sources can be used. For example, the various censuses are taken only periodically and then cannot be made available for some time after the year the census covers, while tabulations of income tax returns are generally not available for more than two years after the tax year. At the present time the diffi culties of preparing estimates for recent years are in• See table Vui for the detailed content of this Industrial classification. 1 NATIONAL INCOME SUPPLEMENT TO SUEVEY O F CURRENT BUSINESS j„iyi947 Table I.—National Income and Product Account, 1939 [MUlions of dollars] Compensation of employees: Wages and salaries Supplements ' Income of unincorporated enterprises and inventory valua tion adjustment Rental income of persons Corporate profits and inventory valuation adjustment: Corporate profits before tax: Corporate profits tax liability Corporate profits after tax: Dividends ' Undistributed profits Inventory valuation adjustment Net interest -National income ' Indirect business tax and nontax liability Business transfer payments Statistical discrepancy Less: Subsidies minus current surplus of government enterprises Charges against net national product2 Capital consumption allowances CHAEGES AGAINST GROSS NATIONAL PRODUCT K. 1 Data for other years in table 1. s 45, 745 2,075 11, 282 3,465 67,466 9,004 888 13,068 GROSS NATIONAL P R O D U C T ' . 90,426 1,462 3,796 1,209 —714 4,212 72, 5SS 9,365 451 462 ' 485 82, sm 8, 101 90, 426 Data for other years in table 4. creased by the fact that no censuses of manufactures or business were taken during the war emergencyWhile this report contains an enumeration of the changes in national income and product that have been made and a series of definitions of the major aggregates and their components, it cannot deal ade quately with the problems involved in concepts, statis tical methods, and use of sources. A comprehensive volume containing a full discussion of these matters is in preparation and will be published as soon as possible. We appreciate that during the last few years users of income and product statistics have encountered diffi culties because the data were not conveniently assembled or adequately described. Within the limit of available resources, every effort is being made to correct this situation. In this report we begin with a brief description of the framework of the national income accounts as a guide to those unfamiliar with this approach. There follow a series of definitions of the major aggregates and their components used hi the present estimates and a descrip tion of the changes from our previous estimates. The National Economy and Major Economic Sectors National income research over the past decade and the experience gained in using the statistics in analytical work have broadened the scope of the field. It has become evident that a single national income aggregate is not applicable to all problems requiring a measure of the income or output of the national economy, but that alternative measures are at times better adapted to the needs at hand. Furthermore, it has been found illumi nating not only to measure the various aggregates of income and product but to develop national income and related statistics into a system of economic accounting. Personal consumption expenditures Gross private domestic investment Net foreign investment Government purchases of goods and services, a Data for other years ia table % In its work in the field of national income statistics, the Department of Commerce presents the series be lieved to be most generally useful—national income, national product, personal income, and disposable in come—arranged to show the interrelations of the various magnitudes. As an integral part of this work, the cur rent income and outlay accounts for the major sectors of the economy and a consolidated capital account are drawn up, both because they are of interest in them selves and because they show the interactions of these sectors and how the whole is derived as the sum of the parts. These accounts for the national economy and the major sectors thereof are illustrated in tables I to VI by data for the year 1939. The accounts are shown in detail to clarify their composition and to permit the tracing of the various flows from one account to another. It will be apparent, however, that less detailed tables are sufficient for most analytical problems.7 Summary National Account Table I is the summary income and product account for the national economy. I t is a summary account in that the items on each side are derived from the current transactions of businesses, consumers, and government. Of course, in the drawing up of the national income and product account some difficult and controversial deci sions must be made as to whether certain activities rep resent economic production or income. Government in terest, the services of housewives, and income from illegal activities are examples of items we exclude from national income and product. On the other hand, we include ' For a simplified version of this approach see Milton Gilbert and Geome Jsszl, National Product and Incomo Statistics, op. <AL An elaborate system of national accounts Is presented by J. B. N. Stono as an appendix to the League of Nations report cited in footnote 4. July 1947 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS Table IL—Consolidated Business Income a n d Product Account, 1939 ' [Millions of dollars] Compensation of employees: Wages and salaries: Disbursements Excess of accruals over disbursements Supplements; Employer contributions for social insurance Other labor income Income of unincorporated enterprises and inventory valuation adjustment . Rental income of persons _ Corporate profits before tax and inventory valuation adjustment: Corporate profits before tax: Corporate profits tax liability Corporate profits after tax: Dividends Undistributed profits Inventory valuation adjustment Net interest Income originating Indirect business tax and nontax liability _. Business transfer payments Statistical discrepancy Less: Subsidies minus current surplus of government enterprises. Cfiarges against net product : _ Capital consumption allowances Consolidated net sales: To consumers To government To business on capital account To abroad Change in inventories 63, 816 5,375 8,563 1, 123 441 CHARGES AGAINST.JBUSINESS GROSS P R O D U C T . BUSINESS GROSS PRODUCT 79, 318 i D a t a for other years in table 7. various items of income in kind, such as rental value of owner-occupied houses and banking services rendered to persons without explicit payment. On trie right side of the account are the consolidated sales of the economy, adjusted for the change in inven tories so as to measure the market value of the goods and services produced. On the left are the various costs in curred in producing the gross national product, part of which are the earnings of the factors of production that make up the national income. The two sides of the ac count must, in principle, balance exactly. Any error in estimation prevents statistical equality, however, unless an entry for the "statistical discrepancy" is included on one side or the other of the account.8 The economy covered by this account, and hence by the various income and product aggregates, is the con tinental United States. Thus it does not coincide with the customs area of the Nation since territories and pos sessions are excluded. However, the account does not measure the income and product of factors of production physically located in the continental United States but rather the income and product attributable to factors supplied by residents of the continental United States. Not only individuals who contribute their labor and property to the productive process, but nonprofit insti tutions and governmental bodies supplying capital re■ It wilt be noticed that we have omitted an item required to make the two sides of the account equivalent in concept. This is the financial costs of acquiring property and issuing socorltte, to the extent that these costs are charged to capital account by business. The item, undoubtedly ot significant magnitude In certain years, has been neglected for lack of data, sources are viewed as residents supplying factors of production. Corporate enterprises are not considered residents in this connection since corporate income does not accrue to corporations as such, but to the holders of their securities. The meaning of "resident individuals" is largely selfexplanatory. Our usage of the term in national income statistics may be more precisely formulated, however, by reference to the following three attributes: permanent residence, place of performing work, and location of em ployer. A worker is counted as a resident individual if at least two of these attributes refer to the continental United States. Tor example, United States Govern ment military and civilian personnel whose usual resi dence is in the United States are counted as residents, even though they are stationed abroad. Also, foreign border workers employed in this country by domestic employers, as well as permanent residents of the United States employed in this country by foreign governments or international government organizations, are counted as resident individuals. Business Account Table I I shows the income and product account for the business sector of the economy. In essence, this table is a consolidated profit and loss account relating to current business operations. Consolidated sales, ad justed for the change in inventories, appear on one side of the account whereas the various charges against sales and the earnings of business appear on the other. I t is a consolidated statement in that all intrabusiness trans- NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS ji,i>- 1947 T a b l e I I I . — C o n s o l i d a t e d G o v e r n m e n t R e c e i p t s a n d E x p e n d i t u r e s A c c o u n t , 1939 * {Millions ot dollars] Purchases of goods and services: P u r c h a s e s of direct services: C o m p e n s a t i o n of employees: W a g e s and salaries 2 Supplements: E m p l o y e r contributions for social in surance5 O t h e r labor income ! Income originating and net and gross product.. N e t purchases from business N e t p u r c h a s e s from abroad Transfer p a y m e n t s N e t interest paid Subsidies m i n u s c u r r e n t surplus of g o v e r n m e n t e n t e r prises Personal t a x a n d n o n t a x receipts C o r p o r a t e profits tax accruals Indirect business t a x and n o n t a x accruals C o n t r i b u t i o n s for social i n s u r a n c e : E m p l o y e e contributions ' E m p l o y e r contributions: Business * Governments Households and institutions 2 Deficit ( + ) or surplus (—) o n income and p r o d u c t t r a n s actions' GOVERNMENT EXPENDITURES GOVERNMENT RECEIPTS AND DEFICIT 1 3 D a t a for o t h e r y e a r s in t a b l e s S a n d 9 except where otherwise noted. D a t a for o t h e r years in t a b l e 35. ■ D a t a for other years in table 7. • T a b l e I V . — R e s t of t h e World 2 2,440 1,462 9,365 596 1,330 199 11 1,867 17,270 D a t a for o t h e r y e a r s in t a b l e 12. 6 D a t a for o t h e r years in table 5. A c c o u n t , 1939 l [Millions of dollars) Net payments of factor income to the United States'. Wages and salaries Dividends Branch profits Income originating and net and gross product Net purchases from the "United States: _ From government N E T C U R R E N T PAYMENTS TO T H E UNITED STATES —1 2 127 137 47 SIS Net disinvestment in the United States 888 NET DISINVESTMENT IN T H E UNITED STATES. 888 1, 123 -64 -4S4 888 D a t a for o t h e r years in t a b l e 1 1 . actions on current account are netted out. On the sales side the data are net of current purchases of goods and services from other businesses, and on the cost side dividends and interest originating in tbe business sector are net of dividends and interest received by business. The business sector of the economy covers all the firms, organizations, and institutions which produce goods and services for sale at a price intended at least to approximate costs of operation. In the main, it covers all private enterprises organized for profit, both corporate and noncorporate) including farm operators, independent professional practitioners, and lessors of real property. Mutual financial institutions, coopera tives, nonprofit organizations serving business, and owner-occupied houses are also classified in the business sector, as are government enterprises with respect to their purchases and sales on current account. Government Account The other sectors of the economy are the government, the personal, and the rest of the world. In contrast to the business sphere, for which the account is essentially a profit and loss statement, the accounts of these sectors are merely receipt and expenditure accounts. The re ceipts represent income and other revenues, rather than. sales as in the business account. Similarly, the expendi tures constitute purchases for consumption and transfers to other sectors, rather than the costs of producing for sale (and profit) as in the business account. The receipts and expenditures account for the govern ment sector of the economy is given in table III. This account shows essentially the consolidated general gov ernmental operations of Federal, State, and local govern ments, inclusive of social insurance funds. I t incorpo rates also, however, the purchases of government enter prises on capital account, their net interest payments, and their operating surplus or deficit.9 * To explain bow government enterprises are fitted into our economic accounting system, three points must bo brought out: (l) the distinction between government enterprise and general government activities; (2) the bundling ot capital outlays of these enterprises; and (3) the treatment of their interest income and their profits and losses, {I) The distinction between general government and government enterprises can be rcadDy understood even though It cannot bo drawn with theoretical precision. Government enterprises are those agencies of government bodies whose operating costs are at least to a substantial extent covered by the sate of goods and services, in contrast to tbe general activities of government which are financed by tax revenues and debt creation. Government enterprises, In other words, conduct operations essentially commercial in character even thongh they perform them under the auspices of the State. The Post Office and public power systems are typical examples of government enterprises. On the other hand. State universities and public parks, where tbe fees and admissions collected cover only a nominal part of operating costs, are part of gen eral government activities. This distinction, itself, explains in part why government enterprises are classified as businesses rather than combined entirely with general government. It is so that each of these sectors of the economy will reflect activities as homogeneous as isfeasible,given the diversity ol tbe real world that wo are confronted with. But more important, it it desirable to consolidate government enterprises with business so that neither tbe goods they purchase from private business for resale, nor the goods they sell to private business for resale, will be counted twice in the national income and product account. July 1947 NATIONAL INCOME SUPPLEMENT TO SURVEY O F CURRENT BUSINESS 5 T a b l e V . — P e r s o n a l I n c o m e a n d E x p e n d i t u r e A c c o u n t , 1939 [Millions of dollars] Personal consumption e x p e n d i t u r e s : Purchases of direct services: C o m p e n s a t i o n of employees: Wages a n d salaries paid ' Supplements paid: E m p l o y e r contributions for social in surance ' O t h e r l a b o r income ' I n t e r e s t paid l Income originating in and net product of house holds and institutions I n s t i t u t i o n a l depreciation 2 Gross product of households and institutions N e t purchases from b u s i n e s s * N e t purchases from a b r o a d * . _ Personal tax and nontax p a y m e n t s ' Personal s a v i n g ' _ _ Wage a n d s a l a r y receipts: Disbursements by: Business s Government' Households and i n s t i t u t i o n s l R e s t of t h e world * L e s s : E m p l o y e e contributions for social insurance °, O t h e r labor i n c o m e : Business3 Government1 H o u s e h o l d s a n d institutions l I n c o m e of unincorporated enterprises a n d i n v e n t o r y valuation adjustment3 R e n t a l income of p e r s o n s 3 Dividends ( P e r s o n a l interest income 5_ _ G o v e r n m e n t transfer p a y m e n t s 7 7 Business transfer p a y m e n t s PERSONAL OUTLAY AND SAVING PERSONAL INCOME 1 1 3 D a t a for o t h e r years in t a b l e 12. D a t a for o t h e r years in t a b l e 5. D a t a for o t h e r years in t a b l e 7. 431 87 17 11, 282 3,465 3,796 5,417 2,512 451 72, 607 ( 7 * D a t a for o t h e r years in t a b l e 1 1 . D a t a for o t h e r y e a r s in t a b l e 3. 5 36, 250 7,343 2, ISO 2 596 D a t a for o t h e r years in t a b l e 3 5 . D a t a for o t h e r years in t a b l e 4. T a b l e V I . — G r o s s S a v i n g s a n d I n v e s t m e n t A c c o u n t , 1939 ' (Millions of dollars] Excess of wage accruals over d i s b u r s e m e n t s U n d i s t r i b u t e d corporate profits (domestic) 8 C o r p o r a t e i n v e n t o r y valuation a d j u s t m e n t Statistical discrepancy C a p i t a l c o n s u m p t i o n allowances b y p r i v a t e b u s i n e s s 1 . Foreign b r a n c h profits (net) * I n s t i t u t i o n a l depreciation Personal s a v i n g Business purchases o n c a p i t a l a c c o u n t ' C h a n g e in business i n v e n t o r i e s 2 N e t d i s i n v e s t m e n t in t h e U n i t e d S t a t e s b y r e s t of w o r l d . G o v e r n m e n t deficit ( + ) or surplus (—) on income a n d p r o d u c t transactions GROSS INVESTMENT DEFICIT 1 AND „ GOVERNMENT — D a t a for o t h e r years in t a b l e 5 except as n o t e d , GROSS P R I V A T E 2 D a t a for o t h e r y e a r s in t a b l e 7. (2) Once government enterprises are classified as businesses, it is necessary to segre gate their current expenses tram their outlays onfixedcapita! and the changes in their inventories. TbQ reason is, as with private business, that investment outlays cannot be deducted from sales in obtaining net output for the accounting period hat must be refected in the summation of the total product ol the year in question. In the statistical accounts and tables, however, we have not combined investment by government enterprises with gross domestic investment on private account because we believe that the investment series is more useful analytically when restricted to private outlays. Rather we have included them in general government expenditures. It would be desirable, needless to say, to distinguish all government capital outlays from current government expenditures for goods and services; but, aside from some difficulties of defining government capital, this cannot be done adequately from the available statistical sources. (3) As just indicated, tbe classification of government enterprises as businesses in volves offsetting their operating expenses against their sales receipts, as in the customary profit and loss statement. In our treatment, tbe resulting surplus or deficit, calculated without allowauce lor depreciation, is then consolidated with general government receipts and expenditures, In order to make tbe handling of government enterprises with respect to their profits strictly parallel with private business it would be necessary, of course, to add them to other factor costs. Hence, they would appear in tbe national income just as the profits or losses of private business. This procedure has often been used in national Income accounting. We have not adopted it, as yet at least, because of tbe fact that some transactions of these enterprises nave been noucommcrcial in character, particularly during the war, and havo not been separated statistically. It will be recognised, more over, that even with such an improvement of the source data the rather continuous intrusion of public policy considerations Into the operations or government enterprises would leave some doubt as to which treatment sbould be preferred. A corollary of the treatment of government enterprise surplus or deficit Is that their receipts and payments of interest are combined with other government interest rather than counted as factor costs. In summary, am handling of the surplus, net interest, and capital outlays of government enterprises results in a consolidated government surplus or deficit which reflects the receipts and expenditures both of general government and of government enter prises SAVING. 3 0 1 162 , -714 462 7,014 47 187 2,701 11, 759 D a t a for o t h e r y e a r s in t a b l e 1 1 . Social insurance funds consist of government-ad ministered funds established for the benefit of individuals in an employee status. These are tbe funds set up by the Social Security and Railroad Retirement programs, State health insurance funds, the retirement funds of government employees, and military life insurance funds. Since it is convenient for some purposes to analyze social insurance funds separately from other government operations, the transactions of the former are shown separately in table 10. F o r e i g n Account: The net transactions on current account of the rest of the world with domestic businesses, persons, and governments are given in table IV. The rest of the world covers foreign countries, territories and posses sions of the United States, international government organizations, and the United States monetary gold stock. The gold stock is included in this sector because acquisition of gold by the monetary authorities, like the acquisition of foreign exchange, is considered in United States balance of payments statistics as foreign invest* ment. 6 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS I t may seem strange at first that the "rest of the world" is a sector of the national economy. It will be recalled, however, that the national income and product account relates to the income and product attributable to factors of production supplied by residents of the continental United States. I t is necessary to include in an accounting of the national economy, therefore, the earnings of United States residents received from abroad and to exclude earnings of foreigners paid by domestic establishments. Moreover, as the national product is measured in terms of purchases of goods and services, the purchases of United States production by foreigners must be added to domestic purchases in obtaining the national product and the purchases of foreign production by United States producers and consumers must be deducted. These transactions are shown on a net basis in the rest-of-the-world account. Personal Account The personal income and expenditures account, shown in table V, covers essentially the consuming public. I t consists chiefly of individuals in their capacity as income receivers and buyers of consumption goods, but includes also nonprofit institutions serving individuals, private trust funds, and private pension and welfare funds. It should be noted that in the consolidation of the accounts of persons, gifts and other transfers among persons cancel out. The entries in these four sector accounts show the current account transactions of the economy, with the transactions for each sector on a consolidated basis. A logical and useful extension of this national accounting system would be the construction of the corresponding asset and liability accounts for each sector. Capital A c c o u n t The data necessaiy for so complete a structure of ac counts have not yet been developed.10 Consequently, it has been possible to present a gross saving and invest ment account only on a consolidated basis for the econ omy as a whole. This is shown in table VI. The various entries represent changes in the relevant items of assets, liabilities, and surplus arising out of the current production and current flow of income in the accounting period. The account contains, of course, only such capital account items as are made explicit in the frame work of our estimates. I t does not provide a complete statement of current capital formation from some stand points since, as has been noted, government capital out lays have not been segregated from total government ex penditures and consumer durables are treated as current expenditures rather than as capital investment. a The nest annua! meeting of the Conference on Research fa Income and Wealth win be devoted to the statistical and theoretical problems involved in developing the balance sheet aspects of the national economio accounts, July 1947 Relation of the Accounts It may be seen that the current accounts of the sectors and the consolidated capital account constitute an in ternally consistent and self-contained accounting system for the national economy. This system shows not only the consolidated transactions of each sector of the economy but the relations of the transactions among the accounts. As with any double-entry system, every item in the accounts must appear twice, once as a debit in the account making payment and once as a credit in the ac count receiving payment. For example, consumers1 purchases from business appear as a credit or sale in the current account of business and also as a debit or pur chase in the current account of persons. Likewise, business taxes are a debit or payment in the business ac count and a credit or receipt in the government account. In the case of items of gross savings and investment, the corresponding debit (credit) to each credit (debit) in the four current accounts is to be found in the consolidated capital account and not in the current account of some other sector. Thus, the credit of "sales to business on capital account" in the business account is matched by a debit in the gross saving and investment account. Also, undistributed profits is a debit in the business account and a credit in the consolidated capital account. As has been indicated, the national income and product account (table I) is designed to summarize the transac tions relating to productive activity shown in the current accounts of the four sectors of the economy and their consolidated capital account. In order to derive this summary account it is necessary only that the items taken be restricted to those relating to the product of the economy and that each item be taken once, from the ac count of the buyer or from that of the seller. The process may be illustrated by showing how the national income and the gross national product can be added up from the five basic accounts. The national income can be secured by adding either the factor incomes paid out (or retained) by the sectors of the economy or the factor incomes received (or retained) by them. I t should be emphasized again that not all items paid out, received, or retained by the various sectors constitute factor income. Only items which are part of the total factor cost of producing the national output constitute factor income. For instance, as is ex plained below, u government interest payments are not regarded as factor income in the definitions used here, but corporate profits taxes are considered as part of cor porate profits in their factor cost aspect. The national income can be secured most readily by adding the factor incomes originating in the sectors of the economy from the debit side of each of the current ac counts, as shown at the top of page 7. 11 Seadiscasstaaonp.il 2. NATIONAL INCOME SUPPLEMENT TO SURVEY O F CURKENT BUSINESS Mffliont From the debit side of the business account (table I I ) : Wage and salary disbursements Excess of wage accruals over disbursements Employer contributions for social insurance Other labor income ,— Income of unincorporated enterprises and inventory valuation adjustment .,— Rental income of persons Corporate profits tax liability ,— Corporate dividends --,— Undistributed corporate profits ,— Corporate inventory valuation adjustment ,— ■Net interest ,— Prom the debit side of the government account (table I I I ) : Wages and salaries Employer contributions for social insurance Other labor income From the debit side of the rest-of-the-world account (table IV): Wages and salaries Net interest -— Net dividends -— Net branch profits _-— From the debit side of the personal aecount (table V): Wages and salaries paid ,— Employer contributions for social insurance Other labor income . ..— Interest paid . National income, 1939 of dollars 36, 250 0 1,330 431 11, 282 3,485 1,462 3,659 1,162 -714 3,284 7,343 199 87 2 127 137 47 2,150 11 17 801 72, 532 The national income can be secured also by adding the factor incomes received by the various sectors of the economy and the retained factor incomes transferred to capital account, as follows: F r o m t h e credit side of t h e personal account (table V ) : AfflKoo* Wage a n d salary receipts: ofdoUors Disbursements by business 36, 250 Disbursements by government -. 7,343 Disbursements by households and institutions- - 2,150 Disbursements by the rest of the world — 2 Less: Employee contributions for social insur ance 596 Other labor income from business 431 Other labor income from government S7 Other labor income from households and institutions17 Income of unincorporated enterprises and inventory valuation adjustment 11, 282 Rental income of persons 3,465 Dividends _ 3,796 Personal interest income 5,417 From the credit side of the government account (table III): Corporate profits tax accruals — 1,462 Employee contributions for social insurance .— 596 Employer contributions for social insurance (busi ness) 1) 330 Employer contributions for social insurance (govern ment) 199 Employer contributions for social insurance (house holds and institutions) 11 Less: Net interest paid a 1,205 ii in this summation of the national income, interest paid by government must be deducted. The reason for this Is that such interest is included In the receipts of the other accounts. As It Is not considered to be income arising out of current production, it must be taken out to secure tbo national Income, 74022S—17 2 7 From the credit side of the gross saving and investment Millions account (table VI): ofdottort Excess of wage accruals over disbursements 0 Undistributed corporate profits (domestic) _ . 1,162 Corporate inventory valuation adjustment —714 Foreign branch profits (net) 47 National income, 1939 72, 532 In similar manner, the gross national product can be obtained by summing either the gross product originat ing in the various sectors or the purchases of output by the various sectors. The following summation shows the purchases of out put by the various sectors on both current and capital account: w .„. From the debit side of the personal account (table V)-. of<htiar* Wages and salaries paid 2,150 Employer contributions for social insurance 11 Other labor income 17 Interest paid . 801 Institutional depreciation 187 Net purchases from business 63, 816 Net purchases from abroad 484 From the debit side of the government aecount {table III): Wages and salaries 7, 343 Employer contributions for social insurance 199 Other labor Income 87 Net purchases from business 5, 375 Net purchases from abroad— 64 From the debit side of the gross saving and investment account (table VI}: : Business purchases on capital account 8, 563 Change in business inventories 441 Net disinvestment by rest of world in the United States 888 Gross national product or expenditure, 1939 90, 426 From the standpoint of the sector of origin, the gross national product is secured by taking the total charges incurred in production from the debit sides of the sector accounts, as follows: From the debit side of the business account (table I I ) : Wage and salary disbursements Excess of wage accruals over disbursements Employer contributions for social insurance.Other labor income Income of unincorporated enterprises and inventory valuation adjustment— Rental income of persons Corporate profits tax liability... _ Corporate dividends Undistributed corporate profits Corporate inventory valuation adjustment Net interest _ Indirect business tax and nontax liability Business transfer payments Statistical discrepancy.. Less: Subsidies minus current surplus of government enterprises _ _ Capital consumption allowances From the debit side of the government account (table I I I ) : Wages and salaries.Employer contributions for social insurance Other labor income ofdoUart 36,250 0 1,330 431 11, 282 3, 465 1,462 3, 659 1, 162 —714 3,284 9, 365 451 462 485 7, 914 7, 343 199 87 8 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS From the debit side of the rest-of-the-world account Miui<m> (table IV); efdoXen Wages and salaries 2 Net interest J 327 Net dividends— — 137 Net branch profits _ 47 From the debit side of the personal account (table V): Wages and salaries paid 2,150 Employer contributions for social insurance 11 Other labor income 17 Interest p a i d . . 801 Institutional depreciation 187 Gross national product or expenditure, 1939 90, 426 These illustrations do not exhaust the combinations of items that can be taken from the sector accounts to secure the national income or product. Since the accounts are interrelated and are all arithmetical equa tions, the possible combinations of items that can be made are many. It may be suggested, moreover, that the useful combinations of items are not restricted to those that add up to national income or national product. The Nation's Economic Budget is an interesting arrangement of the data that has become familiar through its use in the President's annual budget message and his economic reports to the Congress. Definitions of Concepts and Terms With this summary of our general approach, we now present a series of definitions to which our estimates of the national income aggregates and their components conform. The definitions are intended to give concise, accurate descriptions of the coverage of the various series and, at the same time, to call attention to the principal aspects of the series which are not readily apparent from their titles. The definition of each of the national income aggregates should be considered in conjunction with the definitions of its components as the details of the latter are not repeated in the former. The more technical aspects are brought out in the foot notes to the various tables. A complete description and explanation of the series will be presented in the comprehensive volume now in preparation. I. National Income Aggregates National Income is the aggregate earnings of labor and property which arise from the current production of goods and services by the Nation's economy. Thus, it measures the total factor costs of the goods and services produced by the economy. The Nation's economy in this context refers to the labor and property supplied by residents of the Nation. Earnings are recorded in the forms in which they accrue to residents of the Nation, inclusive of taxes on those earnings. As such, they consist of the compensation of employees, the profits of corporate and unincorporated enterprises, net interest, and the rental income flowing to persons.. jmyi94T Gross National Product or Expenditure is the market value of the output of goods and services produced by the Nation's economy, before deduction of depreciation charges and other allowances for business and institu tional consumption of durable capital goods. Other business products used up by business in the accounting period are excluded. The Nation's economy in this con text refers to the labor and property supplied by residents of the Nation. Gross national product comprises the purchases of goods and services by consumers and government, gross private domestic investment, and net foreign investment. Net National Product or Expenditure is the market value of the net output of goods and services produced by the Nation's economy. All business products used up by business in the accounting period are excluded to avoid duplication. The Nation's economy in this con text refers to the labor and property supplied by residents of the Nation. Net national product comprises the purchases of goods and services by consumers and government, - net private domestic investment, and net foreign investment. Personal Income is the current income received by persons from all sources, inclusive of transfers from government and business but exclusive of transfers among persons. Not only individuals (including owners of unincorporated enterprises), but nonprofit institutions, private trust funds, and private pension and welfare funds are classified as "persons." Personal income is measured as the sum of wage and salary receipts, other labor income, proprietors' and rental income, interest and dividends, and transfer payments. Disposable Income is the income remaining to persons after deduction of personal tax and other payments to general government. I I . Components of National Income and Product Aggregates A. National Income (as in table 1). Compensation oj Employees is the income accruing^to persons in an employee status as remuneration for their work. Prom the employer's standpoint, it is the direct cost of employing labor. I t is the sum of wages and salaries and supplements to wages and salaries. Wages and Salaries consists of the monetary remunera tion of employees commonly regarded as wages and salaries, inclusive of executives' compensation, commis sions, tips, and bonuses, and of payments in kind which represent income to the recipients. Supplements to Wages and Salaries is the monetary compensation of employees not commonly regarded as wages and salaries. It consists of employer contributions for social insurance, employer contributions to private pension and welfare funds, compensation for injuries, directors' fees, pay of the military reserve, and a few other minor items of labor income. July 194T NATIONAL INCOME SUPPLEMENT' TO SURVEY OF CURRENT BUSINESS Iiwome of Unincorporated Enterprises measures the monetary earnings and income in kind of soleproprietorships, partnerships, and producers' cooperatives from their current business operations—other than the sup plementary income of individuals derived from renting property. As with corporate profits, capital gains and losses are excluded and no deduction is made for deple tion. Inventory Valuation Adjustment measures the excess of the value of the change in the volume of nonfarm business. inventories, valued at average prices during the period, over the change in the book value of nonfarm inven tories.13 This adjustment is required because corporate profits and income of unincorporated enterprises are taken inclusive of inventory profit or loss, as is customary in business accounting, whereas only the value of the real change in inventories is counted as current output in the national product. No valuation adjustment is required for farm inventories because farm income is measured exclusive of inventory profits. Rental Income of Persons consists of the monetary earnings of persons from the rental of real property, ex cept those of persons primarily engaged in the real estate business; the imputed net rental returns to owner-occu pants of nonfarm dwellings; and the royalties received by persons from patents, copyrights, and rights to natural resources. Corporate Profits before Tax is the earnings of corpora tions organized for profit which accrue to residents of the Nation, measured before Federal and State profit taxes, without deduction of depletion charges and exclusive of capital gains and losses. Profits accruing to residents are measured by eliminating intercorporate dividends from profits of domestic corporations and by adding the net receipts of dividends and branch profits from abroad. In other respects, the definition of profits is in accordance with Federal income tax regulations. Corporate Profits Tax Liability comprises Federal and State taxes levied on corporate earnings. Disbursements of tax refunds are deducted from tax liability in the year in which the tax liability was incurred. Net Interest measures the monetary interest and im puted interest accruing to the Nation's residents from private business and from abroad, minus government interest disbursements to corporations. Imputed interest consists of the value of financial services received by per sons without explicit payment and property income withheld by life insurance companies and mutual finan cial intermediaries on the account of persons. As govern ment interest paid to corporations appears as part of corporate profits, it is deducted in computing net interest to prevent its inclusion in the national income. u Seo Simon Kuinats, Changing Inventory Valuations and Their Effect on Business Savings and on National Income Produced, Conference on Research in Income, and Wealth, vol. 1, National Bureau o[ Economic Research, 1037. 9 B. Gross National Product (as in table 2). Personal Consumption Expenditures consists of the market value of purchases of goods and services by individuals and nonprofit institutions and the value of food, clothing, housing, and financial services received by them as income in kind. I t includes the rental value of owner-occupied houses but does not include purchases of dwellings, which are classified as capital goods. Gross Prwate Domestic Investment consists of acquisi tions of newly produced capital goods by private business and nonprofit institutions and of the value of the change in the volume of inventories held by them. I t covers all private new dwellings, including those acquired by owner-occupants. Net Foreign Investment is the net change in inter national assets and liabilities, including the monetary gold stock, arising out of the current international flows of goods and services, factor incomes, and cash gifts and contributions. Thus it measures the excess of (1) domestic output sold abroad over purchases of foreign output, (2) production abroad credited to United Statesowned resources over production at home credited to foreign-owned resources, and (3) cash gifts and contribu tions received from abroad over cash gif,ts and contribu tions to foreigners. The net transfer of cash gifts and contributions offsets corresponding entries in personal consumption expenditures and government purchases of goods and services. Government Purchases of Goods and Services measures purchases of goods and services by government bodies, exclusive of acquisitions of land and used depreciable assets and of current outlays of government enterprises. I t consists of general government expenditures for com pensation of employees, purchases from business (net of sales by government of consumption goods and ma terials), net government purchases from abroad and international contributions, and the gross investment of government enterprises. Therefore, government pur chases of goods and services excludes transfer payments, government interest, and subsidies, as well as loans and other financial transfers outside the scope of income and product transactions. C. Personal Income and Disposition of Income (as in table 3). Wage and Salary Receipts is equal to wages and salaries less employee contributions for social insurance, except that retroactive wages are counted when paid rather than when earned. Proprietors' and Rental Income is the Bum of income of unincorporated enterprises and inventory valuation adjustment and rental income of persons as given in the components of national income. Personal Interest Income measures the monetary inter est and the imputed interest accruing to individuals and nonprofit institutions. Imputed interest consists of the value of financial services received by persons without 10 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS explicit payment and property income withheld by life insurance companies and mutual financial intermediaries on the account of persons. Transfer Payments consists of monetary income re ceipts of individuals from government and business (other than government interest) for which no services are rendered currently, of government payments and corporate gifts to nonprofit institutions, and of indivi duals' bad debts to business. Personal Tax and Nontax Payments consists of the taxes levied against individuals, their income, and their property that are not deductible as expenses of business operations, and of other general government revenues from individuals in their personal capacity. I t includes payments for such specific services as are provided within the framework of general government activity. I t excludes, however, purchases from government enter prises. Tax refunds are deducted from payments at the time of refund. Personal Consumption Expenditures is the same as in gross national product. Personal Saving is the excess of personal income over personal consumption expenditures and taxes and other payments to general government. I t consists of the current saving of individuals (including owners of unin corporated businesses), nonprofit institutions, and private pension, welfare, and trust funds. Personal saving may be in such forms as changes in cash and deposits, security holdings, indebtedness, and reserves of life insurance companies and mutual savings institutions, the net in vestment of unincorporated enterprises, and the acquisi tion of real property net of depreciation. D. Reconciliation Items Between National Income and Gross National Product (as in table 4). Depreciation Charges represents the charges made by private business against receipts for the current consump tion of durable capital goods and comparable allowances for nonprofit institutions. I t includes depreciation charges against owner-occupied houses. Depreciation reported by business is not adjusted for changes in the replacement value of capital goods, except for farm enter prises. Accidental Damage to Fixed Capital measures the value of the physical losses by fire, natural events, and other accidents to fixed capital of private business, not covered by depreciation charges. Capital Outlays Charged to Current Expense represents the purchases of new durable capital goods included in gross private domestic investment that are charged as cur rent expense by business rather than entered on capital account. Indirect Bv&iness Tax and Nontax Liability consists of tax liabilities incurred by businesses, except corporate income taxes, and other general government revenues from business. I t includes all sales taxes. It includes payments for such specific services as are provided within the framework of general government activity. I t ex cludes, however, purchases from government enter prises. Government receipts from the sale of surplus property are not included in this item. Tax liabilities are net of refunds. Subsidies Minus Current Surplus of Government Enter prises: Subsidies are the monetary aids provided by govern ment to private business. Current surplus of government enterprises represents the excess of sales receipts over current operating costs of government enterprises. In the calculation of the eurrent surplus, no deduction is made for charges to depreciation or other reserves and interest is not counted in either receipts or costs. Subsidies and current surplus are shown as a single item because of the difficulties involved in segregating subsidies paid through Federal Government enter prises from other expenditures of these enterprises. Statistical Discrepancy is the excess of the value of the estimated gross national product computed by the final products method over its independently estimated value computed by adding necessary conceptual adjustments to the national income. Terminology Used Before discussion of the changes from our previous estimates that are implicit in the definitions just given, a few comments on terminology seem appropriate. While the term "national income statistics" has come to be used to designate the entire field of statistics em bracing value measures of the income and product of the economy, "national income" is also widely used as the title of a specific statistical series. We have followed this practice and utilized "national income" to designate total factor costs of current output. I t will be noted that we use the terms "national in come" and "net national product" to designate the cur rent production of the economy at factor cost and at market value, respectively,14 Some technicians prefer to use the single term "national income" but to modify it by the phrases "at factor cost" and "at market value" to distinguish between what we call national income and net national product. We prefer our terminology be cause we have found that the nontechnician more readily distinguishes the two concepts by visualizing the na tional income as a summation of factor incomes and the national product as a summation of goods and services produced. As to gross national product or expenditure, this term is used to designate the market value of current output before deduction of allowance's for capital consumption. While the gross national product is a somewhat arbitrary « With regard to the theoretical distinction between the two concepts, see the stimu lating and original article by Prof. T. K, Hicks, The Valuation ot tbo Social Income. in Economics, 1940, NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS measure from a theoretical standpoint, depending as it does upon what categories of goods one chooses to call durable capital, it has the advantage of being more pre cise statistically than the net national product. The latter is theoretically preferable when defined as the amount of production that could be consumed without impairing the stock of capital. It suffers, however, from the serious obstacle that there is no satisfactory operational definition of the consumption of fixed capital,'" We measure eapital consumption charges merely in a way required to reconcile the income and product sides of the national income and product account. The estimates of depreciation charges used are, in the main, business allowances for depreciation for tax purposes. Li the light of the basic general difficulty of measuring capital consumption, accounting depreciation charges have not been revalued to reflect changes in the current prices of capital goods, though such revaluation is indicated on conceptual grounds. The net national product has been incorporated into the definitions and illustrative tables of the report pri marily to help clarify the nature of the concepts of na tional income and gross national product. We do not intend to feature the net national product regularly in summary public releases because the addition of one more series to the other basic aggregates would probably be more confusing than helpful to those who are inter ested primarily in following broad changes in economic conditions. All the data for its computation will be available to technicians who may prefer the concept for certain analytical work. Another matter of terminology that should be noted is that the name of the series "income payments to individuals" has been changed to "personal income." The main reason for this change is that the latter term seems more appropriate for an aggregate that includes, as previously, such items as income in kind, income of proprietors, and rental income to which no explicit cash payments correspond. Unfortunately, we have not been able to find a descriptive title for the series which at the same time would draw attention to another of its characteristics, namely, that it covers nonprofit institu tions and private pension, welfare, and trust funds as well as individuals proper. For the convenience of those who want an income total that is closer to a cash basis, the major items of income and expenditure in kind that are included in personal income and personal consumption expenditures are shown in table 39. In connection with the data on personal income, we call attention to the fact that the monthly series and its components will henceforth be issued in the form of seasonally adjusted annual rates rather than as index it For a comprehensive study of capital consumption, see Solomon Fabricant, Capital Consumption and Adjustment, National Bureau of Economic Research, 1938. See also Wendell D. Hancc, Adeqnacj ol Estimates Available for Computing Net Capital Formation, in Studies in Income end Wealth (vol. (I), National Bureau of Economic Research, JM3. 11 numbers.18 The use of annual rates of income has a great advantage over indexes in that the components of income for each month add to the income total and in that the monthly series are more easily compared with annual data. In addition, this technique eliminates the need for base periods which seem inevitably to gather an aura of normality. The unadjusted data on personal income will be issued quarterly rather than monthly. Changes in Content of National Income Aggregates As stated earlier, the content of the national income and product aggregates in this report differs in several respects from the estimates previously issued by the Department of Commerce. The conceptual changes which should be taken into account in weighing the mean ing of the various aggregates are the following: 1. Interest payments on government debt have been eliminated from the national income and product. This change is designed to make the aggregates conform better to the commonly accepted idea of current produc tion. As the bulk of government debt was created to finance wars and current expenditures, most writers in the national income field believe that interest on such debt does not represent currently produced goods and services or the current use of economic resources. For example, it seems sensible that a comparison of the pre war and postwar volume of production should not be distorted by the continuing interest on the national debt that arose during the war. Some measure of the current services of durable capital used by public authorities (and, indeed, of consumers' durables, in addition to housing) might be included in national income and product for some purposes. I t is highly questionable, however, that interest paid on the debt incurred to acquire government capital would pro vide an appropriate measure of such imputed income and product* 2. Imputed net rent on owner-occupied dwellings has been added to national income and product and to per sonal income. It is generally agreed that this change should be made to provide comparable treatment between rented and owner-occupied housing. As a corollary to the inclusion of imputed net rent, depreciation and taxes on owner-occupied dwellings have been- added to the consumer expenditure component of the gross national product. 3. Corporate profits before taxes have been included in the national income rather than profits after taxes. This change has been made so that the national income will more accurately reflect factor costs of current pro duction, which is the basic idea used in defining national income. It means that all factor incomes are now in cluded in the national income before taxes levied on income. ii The revised monthly series for the period 1929-4G on this basis are presented in table 48. 12 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CUKRENT BUSINESS The rationale for the inclusion of corporate profits before taxes must rest ultimately, of course, on the incidence of taxes on profits. Although this question probably cannot be settled definitively, the weight of theoretical and statistical evidence is that changes in corporate profit tax rates affect profits after taxes more significantly than prices of output. Certainly, the high proportion of profits taken in taxes during the war period meant a substantial reduction in the income accruing to stockholders. In addition, the carry-back and carry forward provisions of the corporate tax law make each year's taxes partly dependent upon events in other years. This introduces an increasingly arbitrary element into profits after taxes, and virtually necessitates the use of profits before taxes in any measure, like national income, that relates to current production. I t should be emphasized that t h e inclusion of profits taxes in the national income in no way implies that they directly benefit stockholders. This applies, of course, to taxes levied on all the distributive shares of national income—they cannot be used directly as measures of benefits to the recipients of those shares. 4. National income has been computed without deduc tion of allowances for depletion. This change affects both corporate profits and unincorporated business income. It is required because the value of new dis coveries of natural resources is not counted as part of gross capital formation, or of profits in the year of dis covery, and consequently deduction of a capital con sumption charge for impairment of the stock of natural resources would be inappropriate. 5. The inventory valuation adjustment has been incorporated into the national income in order to secure conceptual comparability with the national product. We have hesitated until now to make this change be cause of the difficulty of preparing adequate estimates— particularly on an industry basis. While this difficulty still remains, we have thoroughly reworked the estimates industry by industry and now feel that whatever statis tical inaccuracies remain are a lesser evil than the con tinued conceptual inconsistency of excluding the adjust ment .from the national income. It will be noted that we have presented the data so that the user, according to his needs or preference, can readily pbtain profit estimates either with or without this adjustment. 6. National income and product have been revised to include income in kind received by the armed forces, the Government's contribution to military life insurance funds, and the Government's contribution to family allowances to dependents of enlisted personnel. Income in kind comprises the value of food consumed by the armed forces and of issues of personal clothing. The purpose of these changes is to make the measurement of military income conform more closely to the measure ment of income for civilian labor." " Bonuses and other deferred payments (c. g., mustorlng-out pay, adjusted service compensation, and payments under the Ot bill) ore in many respects similar to Items Personal income has been revised to include military income in kind in conformity with the change in national income. Benefit payments from mihtary life insurance funds have been added to personal income and premiums paid to the funds deducted. These changes follow from the fact that military life insurance funds are now classi fied as social insurance funds, whereas in the former in come payments series they were handled like private life insurance. No change was required in respect to the Government's contribution to family allowances, as this item was included as a transfer payment in our previous income payments series. One other change, of minor importance, might be noted here. Military retirement pay, formerly counted as a supplement to wages and salaries, has been classified as a transfer payment. I t is, therefore, no longer in cluded in the national income and national product. I t seemed desirable to include this item in the broad category of military pension, disability, and retirement payments. 7. Government subsidies paid to private enterprises have been eliminated from the national product. This change has been made so that the national product will consistently1 measure the purchases of goods and services valued at their market prices. With this definition of national product, the inclusion of subsidies would in volve the artificial assumption that the Government, in paying a subsidy, is in effect purchasing goods or services. 8. The value of the services of banks and other finan cial intermediaries rendered to persons without the assessment of specific charges are regarded as imputed interest (income in kind) accruing to persons.18 This item is included in the national income and product and in personal income both because it represents a real element of income and product in the national economy and because it permits a sensible solution to the problem of allocating the national income by industries. While alternatives from the latter standpoint are possible, we believe the imputation of interest to the depositors of banks conforms most closely with economic reality.19 Formerly the expedient used in this connection was to assume that all long-term interest originating in the economy, except government interest received by nonfinancial corporations, accrued to persons and that shortterm interest accurately reflected inter-business interest payments. These assumptions have been abandoned in included in the national income, bat since the timing ot the payment is not synchro nized with the performance of military duty It seemed best to handle them as transfer payments. '* It should be noted that not all "imputed interest" shown in table 37 is of this nature. Much of it represents interestreceivedby life insurance companies and mutual finan cial institutions in behalf of individuals but not paid out to them as cash interest in the current period, i' For discussion of the treatment otfinancialintermediaries, see the paper by Dwight B. Yntema presented to the Conference on Research in Income and Wealth, Treatment of Financial Intermediaries (mimeographed). This paper wilt shortly bo published in Vol. 10 of the Conference Studies by the National Bureau of Economic Bcsearca. Pot on alternative method of measuring income originating in banting see M, A, Copeland, Some Problems in the Theory of National Income, Journal of Political Economy, February 1932. July 1947 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CUKRENT BUSINESS 13 Chart I.-NATIONAL INCOME, 1929-1946 BILLIONS OF DOLLARS 250 ^ NEW SERIES FORMER SERIES FORMER CONCEPT, STATISTICALLY REVISED 200 S!?2Z£~150 100 50 J 1929 1930 1931 1932 I 1933 1934 1935 1936 1937 1938 1939 J 1940 1941 L 1942 1943 1944 1945 1946 47-343 favor of actual measurement of both monetary interest flows and imputed interest arising in financial inter mediaries. 9. Employer contributions to private pension and welfare plans have been substituted for benefit payments under such plans in national income and personal income. These plans have grown so greatly during the past five years that the previous assumption that benefit pay ments and contributions are roughly the same magni tude has become artificial. Thus, the change is designed to make the estimates of national income and of supple ments to wages and salaries more accurate. This change means that private pension plans are treated in personal income like private life insurance companies. This is particularly desirable in view of the fact that many of these plans are administered by life insurance companies. 10. The change in farm inventories of crops not held for sale, positive or negative, has been added to national income, national product, and personal income. Former740228—*7 3 ly, the definition-of the change in farm inventories was restricted to total livestock and crops held for sale. This addition, which is quantitatively important in some years, was made to obtain complete coverage of goods-in-process inventories in the private business system. 11. Business transfer payments have been included in personal income. Such payments were previously neg lected essentially for statistical reasons but now have been estimated to effect a better reconciliation of the accounts for the sectors of the economy. Comparison WitU Former Estimates In all, the result of the revisions has been to increase the levels of the national income, personal income, and gross national product. The magnitude of the increases over the whole period is indicated in the charts while the precise effects of the various changes in each year are shown by the reconciliation of our old and new esti- NATIONAL INCOME SUPPLEMENT TO SURVEY O F CURRENT BUSINESS July 1947 revisions in the aggregates arising from purely statistical changes are generally fairly small on balance. The most important statistical revision has been in consumer expenditures, arising principally from a fundamental change in the estimating procedure for this component of national product. Those familiar with the details of our previous estimates will recall that the gross national product for the period before the war was computed from the income side of the national account by adding the necessary adjustment items to the national income. In the filling in of the product side of the account, consumer expenditures were obtained as a residual, as direct estimates of this com ponent were not then available.20 In our present esti- mates in table VII. I t may be seen that the increases in the aggregates are substantially accounted for by the changes in concepts that have been listed. As the most important of these changes concerned items which ex panded substantially during the war, they exert the greatest effect in raising the new series during the war years. The three items of military income—income in kind to the armed forces, the Government's contribution to military life insurance lunds, and the Government's contribution to family allowances—which account for a large part of the addition to the national income and gross national product in 1945, were negligible in 1939. The level of the national income since 1941 is also raised considerably by the inclusion of corporate profits before taxes rather than profits after taxes, particularly during the period of high excess-profits taxes. The " For tbe period after 1939 the estimates of consumer expenditures were obtained by extrapolating the 1039 residual on tbe basis of retail trade and other information relating to consumers7 purchases. Hence, the estimates /or this period were independent as to movement but not as to level. T a b l e VII.—Reconciliation o f N e w a n d Old S e r i e s o f G r o s s N a t i o n a l Product, N a t i o n a l I n c o m e , a n d Personal I n c o m e , 1929-46' [Billions of dollars] 1930 Gross national product (new series). Less items in. new series, but not in old: Net imputed rent of owner-occupied dwellings Depreciation of owner-occupied dwellings Taxes on owner-occupied dwellings Institutional depreciation... Change in farm inventories not held for sale Construction expenditures for crude petroleum and natural gas drilling.. Income i n k i n d to armed forces. s O overnment's contribution to military family allow ances Government's contribution to military life insur ance funds Plus items in old series, but not in new: Government interest payments Subsidies minus current surplus of government enterprises— Military retirement payments Equals: Former concept, statistically revised > Less: Gross national product (former series).. Equals: Statistical revision National income (new scries). 1933 1932 J1&53 1934 103.8 90.9 75.9 58.3 65. a 64.6 2.8 1.0 3,0 .2 2,5 1.0 1.1 .2 -.3 2.1 1.0 1,0 .2 .2 1.0 .9 1.0 .2 1.2 .9 .9 .2 —.2 1.0 .9 .2 -.7 .3 ,1 .3 .1 193S 1939 50.2 84.7 1.0 1.0 .9 ,2 1.4 1.2 1.0 ,0 .2 .3 1.4 1.0 .4 .1 P> (•) P) .2 TO <»> TO P) TO TO TO l.l 1.1 .2 1.0 1.0 1.1 M 1.2 1.2 —.1 -.1 P) .3 99.4 99.4 66.9 SB. 2 -1.3 8 P) 67.* 75,0 «?« Less items In new series, but not In old: Noncorporate depletion charges Net imputed rent of owner-occupied dwellings .. Change in farm inventories not held tor sale Employer contributions to private pension and welfare funds Income In kind to armed forces Government military life insurance benefits Business transfer payments Inventory valuation adjustment (noncorporate) Plus items in old series, but not in new: Premiums to military life Insurance lands Private pension payments Equals: Former concept, statistically revised ' Less: Income payments to individuals (former series)... Equals: Statistical revision .1 1937 84.7 .9 1.0 1930 TO .3 .1 1940 1941 3942 95.1 P) 72.3 72.1 55.6 + 2 55.4 .1 58.0 .3 ,5 2.S -.3 .5 .3 2.1 ,2 P> p) <\ 03.8 63.8 39.6 48.6 <\ F> 2.0 1.2 .9 .2 .3 .3 1.4 TO P) TO -2.7 (') TO P) 2.7 1.3 1.0 .2 —.2 P) 2,9 1.5 1.2 .2 .3 .3 2,7 .5 3.8 4.1 .7 1* TO P) 1.0 2.5 2.9 .7 P) .3 3.3 to 1.5 2.1 2.8 1.3 4.5 3.7 ,2 .1 .2 A .8 .8 TO TO .1 .1 .1 .1 TO .1 .1 37.4 82.0 8&2 97.9 121.8 154.7 180.8 201.9 203,1 108.7 87.7 SO. 0 88.6 97.1 120.2 152.3 1S7.4 197.6 390.2 104.0 -.3 .8 1.6 4.3 2.4 - . 6 1.4 - . 4 3.0 1 - ^ 73.6 07.4 7277 81.3 103.8 130.5 163.3 182.3 182.8 r 178.21.2 1.2 .1 .2 .6 1.5 .5 3.5 p) .2 .1 2.9 .5 p> P) 70.0 70.8 -.8 TO 81.0 81.7 Hrl? 06.9 1.4 .4 1.0 1.4 1.5 .5 1.2 .3 1.0 .4 1.4 .1 TO .2 .1 ,1 .1 .1 .1 TO TO A 1.3 1.5 .2 7,8 .0 1.7 .2 .2 .1 .6 2.0 A 14.2 .7 2.4 4.0 3.0 1.0 .1 C) W 1.1 .1 1.3 1.1 .1 (') „ 68.3 53.8 39.2 cs. e 54.5 40.0 -.7 -,S -.6 76.2 P) 2.8 —1 2.5 -.3 .1 1.3 ,1 TO 41.7 42.3 04.8 49.3 46.0 2.1 .2 1.6 P) 1.2 -.2 .1 .1 ,1 i P) .i .5 .8 .6 .i ,i 31.7 82,6 -.0 .1 .1 72.0 73.3 -,T .1 .1 01.3 62,0 —.7 (') P) . t .3 .1 .1 46.6 47.4 -.8 .1 <\ 49.2 49.5 -.3 53.2 -.9 3.1 .1 P) 55.5 55.7 -.2 1.1 .1 P) 04.5 64.9 -.4 59.9 70.6 1.0 1.4 TO .9 .1 TO TO TO P) .7 -.5 .0 —.1 .! ,1 ,1 «.S 40.3 -.8 i?a .4 -.7 1.2 ,1 52,3 62.9 .2 i i -.3 ,1 .1 67.0 58.6 -.7 .1 .1 67.6 68.1 -.5 1.2 P) -3.3 TO l \ -1.0 -1.0 2.7 —.2 11.3 .6. 3.0 P> .7 3.8 .2 1.4 2.0 P) 1946 24 1.3 1.0 .2 A 1.2 .4 .4 .3 1.6 1945 3.0 1.4 1.1 .2 1.5 1.0 .4 .1 TO 1944 203.7 .9 .2 TO 1.0 53.9 54.3 -.9 p> ,1 ,1 P) .4 TO IMS 90.4 100.5 125.3 159.6 192.6 210.6 213.1 .1 P) Less Items In new series, but not In old: 1.4 Corporate profits taxes .6 Depletion charges. 2.8 Net imputed rent Of owner-occupied dwellings Change in farm Inventories not bold for sale Employer contributions to private pension and wel fare funds Income in kind to armed forces. Government's contribution to military family allow ances Government's contribution to military Ii(e Insurance funds. Inventory valuation adjustment.. Plus items in old series, but not in new: 1.0 Government interest payments Private pension payments .1 Military retirement payments . .. (') Equals: Former concept, statistically revised t 83.0 Less: National income (former series) S3.3 Equals: Statistical revision . —.3 Personal income (new series) (') 1935 .8 4.1 2.5 29 .3 -.4 1.3 -.0 13.9 , f Pi 71.3 71.5 -.2 -.9 '1.2 1.2 .1 .1 TO .1 64.3 71.2 64.2 70.3 .4 .1 1.3 .1 .1 77.7 77.6 .1 1.3 3.5 2.1 2.8 3.7 .1 ,t .1 .1 .1 .1 .1 .1 .1 P) 97.7 123.3 150.9 161,2 163.3 90.9 122.2 149.4 100.7 161.0 1.6 2.3 .8 1.3 .5 74.0 esTs 78.3 95.3 122,2 149.4 164.9 171.0 177.2 P> P> (») 1.2 .1 1.2 .3 .1 .1 P) .6 TO .i .i 71,0 72.4 -.6 72.6 TO P) 1.7 .2 P) 2.0 .4 2.4 -.7 P) .2 2.7 -.2 TO 3.0 P> TO 2.0 .3 .2 .1 .1 .5 -.2 .2 .1 .1 .4 -.1 .2 .4 .1 .5 -.6 .2 1.4 .1 .5 -.4 ,4 2.7 .1 .5 —.1 ,7 3.8 ,1 .5 -.1 .8 4.1 .3 .0 -.1 .9 1.4 .3 .5 -1.3 ,1 .1 90.1 60.2 -.1 .1 .1 70.7 70.8 -.1 .1 .1 70.1 76.2 -.1 .1 .2 .6 1.0 .1 .1 .1 .3 .1 93.1 118.1 145.0 158.3 164.1 82.7 117,3 143.1 150.8 160.8 A . 8 . t.0 1.5 3.3 .6 .1 373.0 165.1 7.9 1.4 .1 .1 .1 1.5 P> .2 i IHtitt-Brtll not necessarily add t o totals because oi rounding. > No entries for private Interest have been included In this table because tbe effect upon tbe series of changes in statistical procedures cannot be distinguished from tbat of the conceptual clarification of the estimates. > Less than $50,000,000. July 1947 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS 15 Chart 2.-GROSS NATIONAL PRODUCT, 1929-1946 BILLIONS OF DOLLARS £50 NEW SERIES FORMER SERIES — FORMER CONCEPT, STATISTICALLY REVISED 200 / 7 150 / J" 100 50 I 0 1929 1930 I 1931 I 1932 1 1933 1934 1 1935 1936 1 1937 mates, however, all the items on both sides of the ac count are obtained independently. As was indicated by the data in earlier articles," the direct estimates of consumer expenditures have proved to be significantly higher than the previous residual estimates—quite apart from definitional differences. Since the major changes introduced into this revised body of national income statistics are due to differences in definitions, they do not in general alter the quantita tive ideas about the American economy that have become familiar on the basis of our previous estimates. This is not to overlook the inconvenience involved in adjusting one's thinking to a new set of definitions and numerical values. Special comment should be made, however, on the estimates of personal saving. The new estimates run at a considerably lower level than our previously pub lished series. While the change,is partly due to dif" STO7ET or CUBBBNT BuslKESS, April 1942, October IM2, and Jtrao 1W4. 749228—*7 S 1 1938 1 1 1939 1 1940 1 1941 I 1942 I 1943 ! 1944 1945 1946 ferenoes in eoncept, the greater part arises from the fact that, in obtaining personal saving as a residual from disposable income, a higher level of consumer expenditures is subtracted than was formerly the case. I t should be emphasized that the personal saving estimates of the Department of Commerce are obtained as residuals and hence are subject to errors in the various statistical series from which they are derived. In view of the rather substantial difference in level between these estimates and the results of several earlier investiga tions, we should like to explore some of the problems involved in assessing the accuracy of the Commerce personal saving estimates. In any comparison of the general level of personal saving shown in this report with earlier estimates, it is first necessary that the differences in the concepts of saving employed be fully recognized. Our concept im plies a quite complete measurement of personal saving from an economic standpoint, in contrast to various other 16 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS juiy 19*7 Chart 3.-PERS0NAL INCOME AND INCOME PAYMENTS, 1929-1946 BILLIONS OF DOLLARS 250 PERSONAL INCOME (NEW SERIES] INCOME PAYMENTS {FORMER SERIES) - — FORMER CONCEPT, STATISTICALLY REVISED 200 150 JOO 50 J J L 1929 1930 1931 1932 L 1933 1934 1 J 1935 L 1936 1937 estimates that have not attempted to measure all types of saving on a net basis. In addition to the types of liquid assets that readily come to mind in estimating personal saving, such as changes in cash and deposits, in life insurance reserves, in building association reserves, in security holdings, and in consumer debt, our concept includes the direct investment of individuals in housing and the direct investment of owners of unincorporated enterprises in real property, equipment, and inventories. Moreover, in our definition of personal saving, the depre ciation of houses owned by individuals and of capital owned by unincorporated enterprises is counted as nega tive saving. Similarly, declines in inventories of unin corporated enterprises constitute negative saving. Also, our definition of saving is net of capital gains and losses and of the financial costs of acquiring property or secu rities—important points in considering the net saving figure for a year like 1929. These conceptual points considerably narrow the differences between our esti mates and those of certain other investigators. As J 1938 1939 1940 1941 1942 I 1 L 1943 1944 1945 1946 compared with our own previous estimates, our new series is conceptually lower by depreciation on owneroccupied homes and on the property of nonprofit insti tutions, by the noncorporate inventory valuation adjust ment, and by the change in farm inventories of crops not held for sale. The two last-named items, which may be positive or negative, significantly affect the year-to-year movement of personal saving. We turn now to the more statistical aspects of the estimates. What is presented in this report is not a single estimate of personal saving for any given year but three estimates that are derived by largely independent methods. One is the residual estimate obtained from the data on personal income and its disposition, as shown in table 3, to which the "personal saving" label is at tached. Concerning this series it need only be said that the components of personal income, taxes, and expendi tures have been more carefully denned and the statistics more meticulously compiled than has previously been the case in national income estimation. NATIONAL INCOME SUPPLEMENT TO SURVEY O F CURRENT BUSINESS Another estimate of personal saving can be derived from our accounts as a residual from the data on sources and uses of gross saving given in table 5. It will be seen that most of the items in table 5 are statistically inde pendent of the items in table 3 and that the former yield alternative estimates of "personal saving" equal to that item plus the statistical discrepancy.** So long as the statistical discrepancy remains small, there must be some presumption that the true figure for personal saving is approximately indicated by the estimates. For this not to be the ease would imply a somewhat unlikely com bination of errors in the two tables. For example, for personal saving to be appreciably higher in the decade before the war, it would be necessary not only that in come be higher or expenditures lower than they are shown to be in table 3 but also that gross capital investment be higher or gross business saving and government surplus lower than shown in table 5. A third method of deriving personal saving in this report is the direct estimation of changes in the various assets and liabilities of persons. A virtually complete reconciliation of the familiar Securities and Exchange Commission estimates with those of the Department of Commerce is shown for the first time. These data were prepared by the research staff of the Securities and Ex change Commission and are shown in table f>. The re conciliation items represent, in the main, types of per sonal saving measured by changes in the relevant assets or liabilities. We feel that the similarity in both levels and move ments of the estimates of saving derived by these three methods is striking in view of the fact that the basic data involved in each are so largely independent. For a This series ("personal saving" plus "statistical discrepancy") is also the saving scries which would be obtained if the double-residual method formerly used for the decade of the thirties—obtaining personal consumption expenditures by deducting other gross national product components from the gross national product aggregate obtained from the Income side, and deducting persona] consumption expenditures from disposable Income—were applied with oni revised estimates, 17 example, the cumulative difference between the direct estimates of saving in table 6 and the residuals in table 3 for the period from 1933*3 to 1946 amounts to only 0.2 billion dollars per annum, while the cumulative discrep ancy in the two series derived from the national income and product accounts from 1929 to 1946 amounts to only 0.6 billion dollars per annum. "While we have found these considerations impressive, we are aware that the saving estimates, or other data in this report, may be modified by future research. In particular, as national income statistics do not rest upon the foundation of a consistently conceived statistical program designed to yield a complete and integrated portrayal of the economy, the current efforts of Federal statistical agencies to increase the coverage and accuracy of economic data should lead to further improvements in national income estimation. Note on Industrial Classification For the convenience of the technical users of the data for national income and the various distributive shares by industry, a comparison of our industrial classification with those of the Social Security Administration and the Bureau of Internal Rev enue, and t h a t given in the Standard Industrial Classification Manual is provided in table ¥111. From the standpoint of the general user of the estimates, the most important point to be emphasized is that, because of the nature of the basic sources, corporate profits, the corporate inventory valuation adjustment, and corporate interest are on a company basis of industrial classi fication, while the other distributive shares are on an establish ment basis. This is a serious limitation on the comparability of the distributive share estimates for some industrial groups, and one 'which should be considered carefully by those who use the data for particular industries. All the estimates are on a current product classification; that is, firms and establishments which converted to new products during the war were reclassified to the appropriate industry. » Unfortunately, S. E. C. data on savings are uot available prior to 1033 due to the inadequacy of source materials. In connection with our residual estimate for 1929, which may appear low atfirstsight, it should be noted that personal saving in the form of cash and deposits was a substantial negativefigurein that year. 18 NATIONAL IKCOME SUPPLEMENT TO SURVEY OF CXTKEENT BUSINESS J u l y 1947 T a b l e VIII.—Industrial Classification for t h e N a t i o n a l I n c o m e > Industrial content tn terms of the Industrial division or industry ' Agriculture, forestry and fisheries Farms Agricultural and similar service establishments. Forestry Fisheries Mining Metal mining Anthracite mining Bituminous and other soft coal mining. Crude petroleum and natural gas production. Nonmetallic mining and quarry ing. Contract construction Manufacturing .-Food and kindred products Tobacco manufactures Textile-mill products Apparel and other finished fabric products. Lumber and timber basic products Furniture and finished lumber products. Paper and allied products Printing, publishing, and allied industries. Chemicals and allied products Products of petroleum and coal... Rubber products Leather and leather products Stone, clay, and glass products Iron and steel and their products, including ordnance. Nonferrous metals and their products. Machinery (except electrical) Electrical machinery Transportation equipment except automobiles. Automobiles and automobile equipment. Miscellaneous manufacturing in dustries. Wholesale and retail trade Wholesale trade.. ... Retail trade and automobile serv ices. Finance, insurance, and real estate Banking Security and commodity brokers, dealers and exchanges. Finance, n. e. c Standard In Social Security Bureau of In dustrial Clas Board Classifi ternal Revenue cation sification Classification> 01 to 09 * 01 to 06. 07<__ 96to98.< 95. 01 to 09 01 _. 07. 9S.< 08 08. 09 09 10 to 14 10 11 - 12 10 to 14 10 11 12 97. 10 to 14. 10. 11. 12. 13 13 13. 14. 14 14. 16andl7 19 to SO. 20 21 22 23 15 to 17 20 21 22 23. 24 25. 24 25 and 39-41. 17 and 10. 20. 21. 23. 26. 27. 26 27 2627. 28. 29. 28 29 30 31 28- 30. 31. 25. 21. 32. 33 and 34. , 05. 19 to 39 „ 17,19-21,23-37, 29 30 31 32 I9adJaSS-II~" I 9 a n d 3 3 ~ ™ 34 35. 35, 35 30 37 36 34 37. 36. , 40. 38 39. 39 41. 37 38— 39 S to 59 and 75 SO, 51, 54 to 85, O 67 and 72. 40 to 61 and 88SO and 51. 60 and 51 53 to 59, and 54 to 66,67 and 40 to 47. 48 to 61 and 88- 6075.' 67 (eio. 7972. 85, 3?, 90, to to 62 to 70 (eic. 91 (exc. 916), 664). 707). and 93. 60 6279 61 , 84. 06 SO to 83, and 85. 03, 64, 65, and 62 and 67 67. Industrial content in terms of the Industrial division or Industry' Finance, Insurance, and real estate— Continued Insurance carriers Insurance agents and combination offices. Real estate Transportation Railroads Local railways and bus lines Highway passenger trausporta(Ton, n. e. c Highway freight transportation and warehousing. Water transportation Air transportation (common car riers). Pipe-line transportation Services allied to transportation... Standard In dustrial Clas sification 70 (exc. 707). 72 to 80. 72 73 and 741 742, 743, and 749. 75 and 79 Social Security Bureau of In Board Classifi ternal Ksvenue cation Classification> 63 90.< 64 and 06 65 (exc, 654)... 91 (exc. 915) and 93. 44 and 45. 40 to 45. 441 and 442. 40 443.1 41 431, 433, and 444 and 445.' 439. 42 76 (exc. 766)... 44... 771 432.. 78 7*4, 766, 772, 773 and SO. Communications and public utilities- 81 to83.._ Telephone, telegraph, and related 81 (exc 813).-. services. Radio broadcasting and television- 815 821,822.. Utilities: electric and gas. Local utilities and public services, 823, S3 ». n . e. c. Services - 84 to 96 (exe. S3), 707. Hotels and other lodging places... 84 (exe. 8442).. Personal services . . . J . . . 85 Private households Commercial and trade schools and 874,953 and 954 employment agencies. 87 (cue. 874), Business services, n. e. c 942 and 707. Miscellaneous repair services and hand trades. Motion pictures.. Amusement end recreation, ex cept motion pictures. Medical and other health services.. 92 93 Legal services Engineering and other professional Ml and 949.... services, n. e. e. 95 (exc. 953 Educational services, n. c. c and 951). Religious organizations 95g Nonprofit membership organiza 96 "(«ic"966) tions, n, e. c, and 8442. Government and government enter 97 prises.1 Federal—general government '*.... Federal—government enterprises«' State and local—general govern ment." State and local—government enter prises." Rest of the world * 446. 449.' 1 447." 434. 45... 448. 451." 46 to 49,736.. 46 46,47. 461,462, 469. 736— 48... 49... 471, 472. 473, 479.* 654, 70 to 90 (exe. 75,736). 70 (exc. 7042).. 72. 90. — 74 69 to 71, 73 to 76, 915. 69.'= 70. 73 (exe. 736), 807 and 654. 70 71 and 915.il OS) Part of 76.x 73. 74. 75. 81 831 and 339.. Port of 76. Fart of 76. Part of 76, 82... Fart or 76. 832.. (13) (IS) 833 and 7042. 94 and 96 (ij) i Numbers refer to the code numbers in the Standard Industrial Classification Manual (Government Printing Office, 1942), the Social Security Board Industrial Classification Code (Social Security Board, 1942, mimeographed) and the Bureau of Internal Revenue Instructions far Coding Industrial Activity with respect to corporation income and excess profits tax returns (Income Tax Unit, 1942 edition, mimeographed). Later editions of the two first-named codes have been Issued for the Manufacturing Industrial Division, but the differences between these classifications and that of the National Income Division are so pervasive that it is not feasible to present a comparison in this place* Adoption of these codes by other data-gathering agencies will probably prevent continuance in the future of the full industrial detail presented in the present report. -Ail establishments operated by government agencies or corporations are classified In the Government and government enterprises industrial division, regardless of their classi fication in the three codes with which comparison is made. 3 The Bureau of Internal Revenue "not allocable" groups (BIR 10,43,450,470,08,78,87, 99 and 00) arc not indicated in the table. ' T h e National Income Division classification includes irrigation system operation In "Local utilities and public services, n. e. c " * Industry 52 is divided between wholesale trade and retail trade. * In National Income Division classification, includes insurance agents, brokers and services, and establishments regularly engaged in any combination of real estate. Insurance, loans, or legal activities when none of these activities alone constitutes the principal business of the establishment. "In National Income Division classification, includes also local buslines. &In National Income Division classification, excludes local bus lines and toll roads, highway bridges, terminals, etc. »In National Income Division classiacation, excludes services incidental to water transportation. i» In Notional Income Division classification, excludes sight-seeing and "taxi" airplane service, and airports and dying fields. " In National Income Division classification, includes also toll roads, highway bridges, terminals, etc.; services incidental to water transportation; sight-seeing and "taxi" airplane service; and airports and Dying fields, " I n National Income Division classification, excludes organization hotels and lodging bouses (on membership basis). " N o t to Bureau of Internal Revenue Instructions for Coding (Corporate) Industrial Activity. " In National Income Division classification, includes private employment agencies. it in National Income Division classification, excludes private employment agencies end includes accounting, auditing and bookkeeping services. »Includes all Federal government agencies and operations, except those included in the Industry, "Federal—government enterprises." >' The following list enumerates all Federal enterprises by their current names: Agricultural Marketing Act Revolving Fund, Alaska Railroad Company, Army Post Exchanges, Banks for Cooperatives, Bonneville Power Administration, Boulder Canyon Project, Commodity Credit Corporation, Defense Homes Corporation, Disaster Loan Corporation, Electric Borne and Farm Authority, Emergency Crop and Feed Loans, Export-Import Bank, Federal Crop Insurance Corporation, Federal Deposit Insurance Corporation, Federal Farm Mortgage Corporation, Federal Home Loan Bank System, Federal Housing Administration, Federal Intermediate Credit Banks, Federal Land Banks, Federal National Mort gage Association, Federal Prison Industries, Inc., Federal Public Housing Authority, Federal Savings and Loan Insurance Corporation, Homo Owners Loan Corporation, Inland Waterways Corporation, Navy Ship Stores and Ship's Service Stores, Panama Canal Zone, Panama Railroad Company, Petroleum Reserves Corporation, Post Office, Production Credit Corporations, Reconstruction Finance Corporation (Including Office of Defense Plants, Defense Supplies, Metals Reserve, and Rubber Kcserve), Regional Agricultural Credit Corporations, R F C Mortgage Company, Rubhcr Development Corporation, Rural Electrification Administration, Smaller War Plants Corporation, Tennessee Valley Authority,©. S. Commercial Company, V. S. Maritime Commission fopcrating activities). War Damage Corporation, War Shipping Administration (commercial operating and war risk insurance activities). ■•Includes all State and local government agencies and operations except those included in the industry, "State and local—government enterprises." u Includes State workmen's compensation funds end undertakings classified as enterprises by the Bureau of the Census, such as alcoholic beverage monopolies; water, electric, gas, and transit systems; housing authorities; and other large commercial activities involving significant amounts and operated and accounted for as enterprises. "'Includes foreign countries, United States territories and possessions and international organizations. July 1947 NATIONAL INCOME SUPPLEMENT TO SUEVEY OF CWRRENT BUSINESS 19 T a b l e 1.—National I n c o m e by D i s t r i b u t i v e S h a r e s , 1929-46 [Miliums of doners] 1929 1930 1931 1932 1933 1934 1935 1936 1937 1933 1919 1949 1941 1942 1943 1944 1(145 194f> 87.365 75,003 58,873 41,690 39,584 48,613 56,789 66,941 r3,627 67,375 72,532 81,347 103,834136,486 168,262 182,200 182,808 178,20* National income Compensation o[ employees Wages and salaries Private Military _ Government civilian' Supplements to wages and salaries Employer contributions for social insurance.. Other labor income. Income of unincorporated enterprises and Inventory valuation adjustment... Business and professional Income ol unincorporated enter* prises Inventory valuation adjustment Farm' Rental income ol persons Corporate profits and inventory valuation adjustment Corporate profits before tax Corporate profits to* liability Corporate profits alter tax Dividends..,. „ TJnd tstrlbutcd profi ts Inventory valuation adjustment N e t interest-_. — **„ ._, 50,786 46,515 39,470 30,826 29,330 34,067 37,107 42,675 47,696 44,747 47,820 51,786 64,280 84,689 109,102 121,184 122,872 50,165 45,8*4 38,886 30,284 28,825 33,520 36,508 41,754 45,948 42,812 45,745 49,687 61,708 81,681 105,537 116,944 117,551 45, MG 40,720 33,007 25,297 23,660 27,420 29,984 33,866 38,432 34,564 37,519 41,130 51,637 65,628 78,671 83,317 82,085 398 312 370 358 313 591 1,362 6,285 14,478 2ft 782 22,438 338 306 271 270 295 308 4,647 4,85* 4,971 4,692 4,895 5,829 6,218 ■,650 7,158 7,878 7,828 7,866 8,309 9,768 12,388 12,845 13,028 621 621 921 1,748 1,935 2,075 2,109 2,572 3,008 3,565 4,240 5,321 599 54*" 505 543 584 171 423 418 1,234 1,423 1,640 1,624 575 535 512 514 603 1,983 589 2,302 706 116,763 111,113 90,237 8.010 12; 860 5,050 4,072 1,578 106 515 111 473 126 416 133 372 13,927 10,963 8,262 7,032 3,214 5,316 4,921 3,206 5,207 2,925 6,603 9,858 12,164 12,219 10,768 11,282 12,660 16,504 22,724 25,951 27,690 30,165 34,951 4,276 4,987 6,074 6,630 0,347 6,776 7,720 9,566 12,112 14,128 15,310 16,700 19,738 6,277 755 3,931 4,786 4,705 611 2,898 3,620; 2,911 295 1,715 2,503 3,450 -525 2,282 2,018 4,330 6,037 6,194 6,659 6,126 6,942 7,772 10,210 12,464 14,256 15,369 16,754 21,046 —54 - 1 . 3 0 8 -59 -352 -644 221 —166 - 5 2 -29 -138 -50 -120 -54 2,327 4,871 6,090 5,019 4,421 4,506 4,940 6,938 10,612 11,823 12,380 13,465 15,213 2,095 2,288 2,682 3,140 3,278 3,465 3,620 4,322 5,371 0,150 6,693 6,952 6,866 101 520 8,120 142 5,665 5,811 147 400 10,290 6,561 1,631 -1,995 - 1 , 9 3 1 1,098 2,997 4,946 9,318 3,303 - 7 8 3 -3,042 162 1,723 3,224 5,684 1,398 965 1,411 524 382 848 746 500 8,420 2,455 - 1 , 2 8 3 -3,424 - 3 6 2 977 2,259 4,273 5,823, 5,500 4,003 2,574 2,066 2,606 2,872 4,557 2,697 -3,045 —5,381 - 5 , 9 9 8 -2,428 -1,619 - 6 1 3 - 2 8 4 472 3,260 2,414 1,04" - 2 , 1 4 3 - 6 2 5 —227 - 7 3 8 6,541 6,176 5,938 5,430 5,010 4,750 4,539 4,474 0,166 6,197 1,512 4,685 4,693 -8 —31 4,376 4,292 3,329 1,040 2,i 3,195 -906 9G3 4,290 5,753 6,467 1,462 5,005 3,790 1,209 -714 4,212 2,677 2,936 1,304 3,805 1,516 9,177 14,61* 19,824 23,692 23,486 19,689 16,451 9,325 17,232 21,098 24,510 23,841 20,222 21,140 2,878 7,846 11,665 14,153 13,913 11,283 8,601 6,447 9,386 9,433 10,363 9,928 8,939 12,539 4,049 4,465 4,267 4,47" 4,765 5.614 4,f"" 2,398 4,921 5,136 5,880 5,239 4,174 6,925 - 1 4 8 -2,617 -1,274 —355 - 5 3 3 - 4 , 6 8 9 -824 4,104 4,113 3,878 3,307 3,207 3,130 3,174 i I n c l u d e s t h e p a y of e m p l o y e e s of g o v e r n m e n t e n t e r p r i s e s a n d or p e r m a n e n t U n i t e d S t a t e s r e s i d e n t s e m p l o y e d i n t h e U n i t e d S t a t e s b y foreign g o v e r n m e n t s am] i n t e r n a t i o n a l organizations. 5 I n v e n t o r y v a l u a t i o n a d j u s t m e n t d a t a for f a r m s a r e n o t available s e p a r a t e l y . Table 2 . — C r o s s N a t i o n a l P r o d u c t or E x p e n d i t u r e , 1929-46 [Millions of dollars] 1929 Gross national product 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 103,323 90,357 75.930 ,13,340 56,760 64,368 72,193 34,705 90,213 34,683 90,426 100,477 125,294 159,628 192,573 210,551 213,120 203,679 78,761 70, Fcrsonfil consumption expenditures 61,153 49,208 Durable goods . . 9,362, 7,275, 5,569 3,694 37,742 34,052 28,965 22/743 Nondurable goods .. 31,657 29,462 26,629 22,771 Services 16,324 10,209 5,362 Gross private domestic investment 886 7,824 5,566 3,561 1,663 New construction' 6,438 4,926 3,162 1,781 Producers'durable equipment 1,562 - 2 8 3 - 1 , 3 6 1 - 2 , 5 6 3 Change in business inventories 771 169 197 690 Net foreign investment— — Government purchases of goods and services. 8,472 9,169 9,218 8,077 1,311 1,410 Federal 1,537 1,480 Wer= _ 1,549 1,484 \ 1,34* 1,432 Nonwnr* 4 Less: Government sates * 12 22 33 State and iocal .... 7,161 7,769 7,681 6,597 46,346 3,503 22,264 20,589 1,306 1,142 1,783 -1,619 160 7,958 2,018 2,022 51,882 4,265 26,732 20,895 2,807 1,420 2,531 -1,144 429 9,750 2,991 4 5,940 2,997 0 6,769 213 158, 377 680 146 890 351 905 -54 ,836 1,931 1,935 62,5 J5 67,121 6,374 7,005 32,887 35,232 23,254 24,384 10,540 11,440 2,783 3,687 4,531 5,444 3,226 2,309 62 11,743 11,590 4,815 4,552 4,818 4,657 5 4 3 ,956 6,928 7,033 513 67,460 754 6,729 032135,258 727 25,479 311 9,004 309 S,'~ 975 4,577 973 441 109 886 750 13,063 280 6,157 f l , 258 i,286 1.3,908 9 8 : ,470 7,911 72,052 7,354 37,694 26,604 12,933 4,600 6,108 2,275 1,609 13,933 6,170 2,223 3,956 9 7,763 82,256 9,750 43,960 23,545 17,211 5,661 7,676 3,874 1,124 24,704 16,923 13,794 3,173 44 7,781 90,835 6,345 52,962 31,028 9,330 3,212 4,702 1,416 -207 ■69,670 52,027 49,567 2,004 204 7,043 101,626 6,515 61,205 33,900 4,591 2,010 3,761 -1,180 -2,245 88,601 81,223 80.384 1,430 641 7,378 110,417 121,698 6,755 7,977 67,100 75,298 36,472 38,423 5,058 9,058 2,267 3,140 5,348 7,134 - 1 , 9 5 7 -1,222 -754 -2,099 96,675 83,113 89,029 74,963 88,638 76,172 1,552 1,011 1,161 2,220 7,646 8.155 143.670 14.917 37,061 41,692 24,532 8,526 32,393 3.664 4,773 30,654 20.671 21.293 2,383 3,005 9,983 1 I n c l u d e s c o n s t r u c t i o n e x p e n d i t u r e s for c r u d e p e t r o l e u m a n d n a t u r a l g a s drilling, n o t s h o w n i n t a b l e 3 1 . ! T h e classification of p u r c h a s e s o l f o o d s a n d services i n t o w a r a n d n o n w a r conforms, i n general, t o t h e D a l l y T r e a s u r y S t a t e m e n t classification o l general a n d special a c c o u n t e x p e n d i t u r e s . W a r p u r c h a s e s include also t h a t p a r t of t h e c a p i t a U o r m a t i o n of g o v e r n m e n t enterprises w h i c h is a t t r i b u t a b l e t o their w a r activities. G o v e r n m e n t c o n t r i b u t i o n s t o t h e N a t i o n Service Life I n s u r a n c e F u n d a r e classified a ; w a r ; all other g o v e r n m e n t c o n t r i b u t i o n s for social i n s u r a n c e , a s n o n i v a r . < Consists Of sales t o a b r o a d a n d d o m e s t i c sales of s u r p l u s c o n s u m p t i o n g o o d s a n d m a t e r i a l s . T a b l e 3.—Personal I n c o m e a n d D i s p o s i t i o n o f I n c o m e , 1929-46 [ M i l l i o n s of dollars] 1929 Personal income 1930 1931 1932 1933 1934 1935 1936 1937 1938 1039 1940 1941 1942 1944 1945 1946 35,127 : 6,195 64,835 49,274 46,629 53,230 59,801 76,575 73,976 68,327 72,607 73,347 95,308 122,159 149,432 104,915 171,590 177,217 50,023 45,747 38,735 30,132 28,673 33,363 36,346 41.574 45,332 42,258 45,149 48,929 60,907 80,515 Ware and salary receipts Total employer disbursements 50,165 46,394 38,886 30,284 23,825 33,520 86,508 41,754 45,943 42,812 45,745 49,587 61,708 81,631 Less: Employee contributions for social in 142 surance — — 152 152 157 102 ISO 151 566 554 596 801 1,156 658 520 416 372 400 503 473 428 514 512 530 589 Other labor income... * * ... 706 576 19,738 11,334 7,429 7.225 3,698 12,140 14,346 15,389 14,040 14,747 16,280 20,326 28,095 Proprietors' and rental income 5,823 4,698 2,574 2,066 2,596 2,872 4,657 4,093 3,195 3,796 4,049 4.466 4,297 Dividends -. 7,524 7,022 6,671 6,180 5,980 5,1180 6,575 5,580 5,432 5,417 5,305 5,402 5,395 Personal interest income . . ... 1.499 2,673 2,152 2,113 3.193 2,339 3,520 2,413 2,834 2,963 3,119 3,119 3,151 Transfer p a y m e n t s . . — 2,643 1,404 1,595 1,888 2,258 2,921 2,862 2.440 2,604 3,293 5,902 1,858 1,455 Less: Personal tax and nontax payments 1,263 474 695 827 1,130 1,723 1,636 1.235 1.364 2,016 4.668 607 331 Federal 1,330 1,261 1,124 990 1,090 1,061 1,128 1,198 1,227 1,206 1,240 1,277 1,294 State and local 82,484 62,077 47,819 45,165 61.635 67,973 68,317 71,055 65,465 70,167 75,743 92,015 116,197 Equals: Disposable Personal Income "3,761 61,163 49,203 46,346 51,382 56,215 62,615 67,121 64,513 67,406 72,052 82,255 90,835 Less: Personal consumption expenditures 3,723 890 1,824 - 1 , 3 3 9 - 1 , 1 8 1 - 2 4 7 1,758 5,802 3,934 Equals: Personal saving 952 2,701 3,691 9,760 25,362 1943 163,439 114,901 115,202 109,225 105,328 117,137 117,637 111, 143 1,839 888 32,101 4,477 5,507 2,970 17,815 16,617 1.298 131,617 101,626 29,091 2,236 1,304 34,383 4,689 0,067 3,631 18,904 17,636 1,303 146.011 110,417 35,594 2,335 1.516 37,117 4,765 6,306 6,185 20.373 19,379 1,499 150,712 121,693 29,014 1,918 1,573 41.816 5,614 7,665 11,319 18,789 17,211 1,578 158,428 143,670 14,758 20 NATIONAL INCOME. SUPPLEMENT TO SURVEY OF CURRENT BUSINESS July 1947 Table 4.—Relation of C r o s s N a t i o n a l P r o d u c t , N a t i o n a l I n c o m e , a n d Personal I n c o m e , 1929—46 [Millions of dollarsi 1929 Gross National Product... l e s s : Capitol consumption aBovraaees Depreciation ctargcs Accidental damage to fixed capita!... Capital outlays charged to currant expense. __ Equals: Net National product ..a.. Plus: Subsidies minus current surplus of gov ernment cBterprfses Less: Indirect business tax and nontax liability. Business transfer payments Statistical discrepancy Equals: National Income.... ...... ..... Less: Undistributed corporate profits Corporate profits tax liability Corporate inventory valuation adjust ment Contributions for social insurance... Excess of wage accruals over disburse ments Plus: Net interest paid by government Government transfer payments Business transfer payments Equals: Personal I n c o m e . _^ . 1930 1931 1932 1033 1934 1936 1930 1938 1937 1939 1940 1041 1942 1943 1945 1944 1946 03,823 90,867 76,930 58,340 56,700 64,868 72,193 84,705 90,213 84,633 90,426' 100,477 126,294 169,628 192,573 210,651 213,120 203,679 8,816 8,747 8,312 7,663 7,2(5 7,218 7,360 7,68* 7,972 7,992 8,101 8,440 9,294 9,935 10,685 11,773 12,085 11,040 7,653 7,653 7,483 0,950 6,608 6,626 6,67" 6,607 6,838 0,894 7,082 7,228; 7,878 8,666 9,409 10,460 10,557 8,876 384 404 399 374 484 240 222 236 237 276 351 329 273 3S1 304 3Sr 413 389 943 1,144 1,761 785 777 966 1,143 711 797 666 090 830 465 362 478 384 850 705 95,012 82,110 67,618 50,677 48,616 57,650 64,824 77,021 82,241 76,691 82,326 92,037 116,000 149,693 181,988 198,778 201,035 192,039 843 775 159 183 102 39 60 -147 -123 420 485 176 283 403 18 -49 -45 7,003 7,156 6,850 6,768 7,055 7,815 8,100 8,663 9,157 9,164 9,305 10,021 11,296 U.S13 12,685 14,029 15,330 16,851 564 52G 567 420 451 649 404 604 641 594 669 504 502 431 687 534 0491 • 737 3,009 -2,101 862 -1,050 - B l 720 470 1,050 462 364 -346 658 -SO -705 1, 1SS 1,437 1,235 66,941 73,027 67,375 72,632 81,347 103,834 136 486 168,262, 182,200 182,808 178,204 87,365 75.003 58,873 41,090 39,584 48,613 56/ 4,174 -8 2,597 -3,945 -5,381 -5.998 -2,428 -1,619 - 0 1 3 -284 1,512 -906 1,209 2,398 4,921 5,136 5,886 5,239 11,233 6,926 8,001 1,040 1,402 2,878 7,846 11,066 14,153 13,913 746 965 1,411 524 3S2 1,398 S4S 500 -714 -148 -2,617 -1,274 -824 -365 —633 -4,689 472 3,260 2,414 1,047 -2,143 -625 - 2 2 7 —738 - 3 1 1,S00 1,977 2,136 2,282 2,734 3,468 4,516 5,172 6,140 6,990 333 304 262 278 286 243 263 14 -30 209 -193 0 0 0 0 0 0 0 0 0 0 0 0 0 964 1,084 1,141 1,170 1,230 1,141 1,101 1,204 1,192 1,205 1,291 1,289 1,617 2,140 2,800 3,676 4,491 1,010 2,024 1,415 1,454 1,552 1,705 2,926 1,851 2,405 2,512 2,688 2,6t7 2,667 2,406 3,082 5,621 10,791 528 564 549 504 431 602 667 429 451 594 641 669 737 534 494 649 m 70,675 73,976 63,327 72,607 78,347 95,308 122,159, 149,432 164,915 171,590 177,217 85,127 76,196 64,535, 49,274 46,020 63,230 59, S6t 912 587 Table 5 . — S o u r c e s a n d U s e s of Gross Savings, 1929-46 (Millions of dollars] I 1929 Gross Private Saving Personal saving Undistributed corporate profits Corporate inventory valuation adjustmentBusiness depreciation charges .---„ Institutional depreciation Accidental damage to fixed business capital.. Capital outlay charged to currant eipenso... Excess of wapffi accruals over disbursements— Statistical discrepancy Cross Investment Gross private domestic in vestment.. Net foreign investment Government Deficit ( + ) or Surplus {—) on In come and Product Transactions Federal State and local 1930 1931 1932 1933 1934 1935 1936 1037 j 1938 1939 1040 1941 1042 1943 1944 1946 1946 7,941 13,326 10,817 8,910 11,759 15,039 21,823 40,209 46,567 54,657 47,853 25,903 16,628 11,156 8,357 2,760 2,728 I.' 932 2,701 3,691 9,760 25,362 29,991 35,594 29,014 14,758 -1,181 -247 1,758 5,802 3,934 3,723 2,899 1,824 —8 -900 1,209 2,398 4,921 5,130 5,886 5,239 4,174 6,925 2,597 -3,046 -5,381 - V " -2,428 -1,019 -613 - 2 8 4 963 - 7 1 4 -148 -2,617 —1,274 —824 - 3 5 6 -533 -4,689 472 3,260 2,414 -5,993 -2,143 -626 -227 —738 -81 7,374 7,476 7,307 1,047 6,433 6,351 6,401 6,439 6,658 0,710 6,895 7,038 7,(~~ 8,471 9,212 10,250 10,360 8,675 200 200 201 197 195 190 ISO 184 187 177 175 170 6,776 179 178 175 176 192 384 404 374 222 246 304 174 484 399 387 276 351 389 413 237 236 381 273 329 943 1,144 1,761 7T7 785 83<J 711 797 960 1,143 362 478 465 656 696 850 705 384 14 -SO 0 0 209 -193 0 0 0 0 0 0 0 0 0, 0 0 0 1,235 462 658 720 2,699 3,099 -2,101 862, -1,050 - 9 1 S64 -346 -SO -705 1,188 470 1,050 16,595 10,899 5,559 1,437 1,456 3,236 6,092 10,447 31,602 7,420 9,892 14,492 18,335 0,123 2,346 3,599 8,304 29,355 15,824 10,209 5,362 1,055 1,306 2,807 6,146 10,540 11,440 0,311 9,004 12,983 17,211 9; 330 4,591 6,658 9,058 24,582 - 2 0 7 -2,246 -2,099 - 7 6 4 4,773 1,609 1,124 62 1,109 150 771 429 - 5 4 - 9 3 090 197 -1,067 -1,185 118 267 -276 2,798 2,093 795 1,705 1,405 240 1,272 1,310 2,355 1,849 2,87!) 2,850 2,538 3,475 -495 -089 -590 31,086 44,221 51,098 39,549 —3,452 547 -685 1,490 1,367 176 1,960 2,213 1,409 4,889 32,951 46,636 53,582 41.819 -2,255 —1,197 -S01 -470 -346 -S62 -1,396 -1,865 -2,414 -2,484 TaJble 6.—Liquid Saving E s t i m a t e s o f t h e S e c u r i t i e s a n d Exchange C o m m i s s i o n a n d T h e i r R e c o n c i l i a t i o n W i t h Personal Saving E s t i m a t e s of t h e D e p a r t m e n t o f C o m m e r c e , 1933-46 1 [Billions of dollars} 1937 1933 1939 1940 1941 1942 1943 1944 1946 1.60 • 4.30 2.34 3.61 —.10 -.23 2.22 1.79 1.67 1.55 .24 .65 -1.70 -.34 -.59 1.00 -.13 -.55 -1.04 -.79 .29 .28 - . 8 3 -1.31 4.09 .39 .09 3.14 1.76 1.38 1.62 1.00 -.01 -.03 .04 -.69 3.12 .31 .94 2.64 1.54 1.10 -.38 -,08 —.14 -.10 -.20 .71 4.00 289 .21 3.15 1.85 1.30 -.23 .50 -.19 -.53 -.87 -1.16 10.67 4.90 .38 3.99 £14 1.85 2.89 3.59 -.17 -.63 -.93 —.60 20.12 10.92 .28 6.04 2.49 2.65 10.03 9.00 -.17 .30 -.06 2 01 38.25 16.02 .59 6.77 2.85 3.92 13.50 13.80 .13 -.37 .28 1.03 40.36 17.00 .82 8.16 3.22 4.93 14.55 15.39 -.17 -.67 ,13 -.35 36.76 18.99 1.06 8.64 3.46 6.63 9.15 10.22 -.31 -.76 -.24 -.74 -2.87 -2.83 -.60 1.14 -.63 -3.53 3.86 2.76 .06 3.01 1.72 1.29 -.69 -.10 -.19 -.24 -.M -.84 0 .20 -.20 .49 -4.70 -6.81 -7.64 —2.49 .01 .07 1,55 .26 .08 1.57 .90 .14 1.59 1,21 .18 1.62 1.34 .21 1.65 2.37 .21 1.70 2.68 .19 1.75 3.10 .22 1.81 1.60 .10 1.80 .90 .03 1.89 .77 .06 1.01 .72 .11 1.93 3.19 .26 2.01 .11 .16 .24 .55 1.38 1.10 1.29 1.30 1.85 2.55 3.92 4.93 5, OS 3.61 -.48 .33 .70 -.22 -.01 .47 .78 -.08 .21 .00 .78 .04 .53 .80 .79 .17 .24 1.09 .84 .14 -.19 .71 .84 -.10 .09 .97 .85 .21 .40 1.00 .86 .26 .26 1.21 .92 -.24 .74 .98 -.13 -.21 .48 .99 .00 -.11 .62 1.02 .04 —.03 .84 1.03 .44 1.10 '1.85 .94 1.27 -1.57 -2.58 -.62 -.40 -.02 1.97 -.20 .14 58 -1.69 -.76 .16 1.13 1.36 1.27 -.45 -.57 -.07 -.24 1.62 1.02 1.54 1.72 2. .IS 1.85 1933 Liquid saving (S. E . C, estimates) 1 Currency and batik deposits . ..... .. Government.... State and local governments Liquidation of mortgage debt on nonfarm dwellings.. Liquidation of dobt, not elsewhere classified Adjustments of liquid saving to Department of Commerce On account of persons other than unincorporated enter prises: Not purchases of nonfarm residences < > ............ New construction by nonprofit Institutions Less: Increase in government insurance and pension On account of unincorporated enterprises other than farms: New construction and producers' durable equipment. Less: Increase in net payables to banks Less: Increase in act payables to other corporations On account of forms: Increase fa inventories — New construction and producers' durable equip ment" Less: Depreciation Less: Increase in farm holdings b y corporations and financial intermediaries Less: Increase In mortgage debt to corporations and Less: Increase tn other debt to corporations and financial intermediaries See footnotes a t end of table. 1934 -.97 -1.17 -.60 .63 .57 .11 -.71 .14 -.93 .08 .73 .10 2.67 1.78 —.31 1.49 1.33 .16 .23 l.M -1.11 .20 -.12 —.40 -1.23 -1.32 -.08 .08 1.55 1935 1936 1946 14.66 12,08 1.14 0.43 2.82 3.61 .71 1.11 -.20 —.It -.27 -1.32 .48 - 1.11 .64 .14 .10 .24 .85 .38 ,60 .60 .83 .92 .87 1.12 .94 1.361.04 1.13 1.06 1.23 LOO 1.36 1.10 .46 1.79 1.24 1.34 1.36 1.23 1.45 -.18 -.17 -.19 —.11 -.08 -.06 -.06 -.31 -,48 —.38 -.23 -.02 .22 .08 -.09 .01 -.37 .21 .19 .14 .OS .08 -.03 -,01 .09 —.10 -.20 .49 .00 -.07 -.OS -.09 --12 -.02 -.17 -.15 .22 -.10 .20 .55 .05 .35 july 1947 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CUESENT BUSINESS Table 6.—liquid S a v i n g E s t i m a t e s of t h e S e c u r i t i e s a n d E x c h a n g e C o m m i s s i o n a n d T h e i r R e c o n c i l i a t i o n W i t h F lsnttiim a tte s nff tTi*. n ^e p ta- r tt t r te n t n£ f l f lm m e r c fe ., 1933—46 " — n n tnitn n u e d mA o o t h e D nf F m ^ E o f C o ium c i 1933-46 ^ C C o i e c l 21 Personal Saving [Billions or dollars] 1933 1935 1936 1937 1938 -2.20 -1.18 -1.02 Equals: Liquid saving plus adjustments to personal saving concept.... 1934 1.36 -.25 l.tto .91 1.76 -.85 5.44 6. SO -.36 3.46 3.93 -.47 — 4t .95 -1.36 1939 1040 3.86 2.70 1.16 1941 1943 1944 1945 1940 10.47 9.70 4.20 3.69 .51 1942 20.01 25.30 4.25 33.66 29.99 3.56 33.49 36.59 -2.19 29.22 29.01 .21 12.17 14.70 -2.5ft 1 In addiMoa to t h e estin^tes oHiquid saving, the Securities and Exchange Commission also prepares estimates of gross savings. The following comments apply to liquid saving only. The 3 . £ . C. concept of liquid saving differs in three major respects from the personal saving concept as published in this report. First, liquid saving Includes the increase in the reserves of government-admrnistercdlnsuraiLcoand pension funds. This item Is not part of personal saving and Is shown (on a somewhat different basis) separately under surplus of social insurance funds. Secoudjiqutd saving includes the net liquidation of mortgage debt on residential dwellings, but It does not Include net acquisitions (after allowances for depreciation), of such dwellings. Hence it does not measure net SAvlng in tho form of residential dwellings, the item which is included in the concept of personal saving. (A similar difference exists with respect to construction by non-proQt institutions). Third, liquid saving includes the net ebange in t h e liquid assets of unincorporated enterprises, whereas personal saving includes the net income less the personal consumption expenditures of tho owners of unincorporated enterprises. On this score, therefore, liqnid saving differs from personal saving by the delusion of net Investment by unincorporated enterprises less the increase in their not payables to corporations and financial intermediaries. Tabic 6 summariies the best statistical data that arc available to adjust liquid saving to personal saving. The difference between liquid saving adjusted t o the personal saving concept and personal saving is due to statisticalerrorsand omissions which may be In Mould saving, in personal saving, or In tho adjustments. The data available for the adjustment items are generally not as satisfactory as tbose used in t h e preparation of tho 9. E. C. liquid saving estimates. This is particularly true of t h o estimated incrcaso in net payables to corporations and financial intermediaries by unincorporated enterprises other tban farms whieh is subject to a substantial margin of error. T h e S . E. C. data are not available for the period prior t o 1933. ! For explanatory notes, see current releases of Securities and Exchange Commission. 3 Includes net purchases of nonfarm residences by proprietorships and partnerships. * Includes farm dwellings. < Includes purchases of used plant and equipment from the IT. S. Government amounting to 200 million dollars. Source: Securities and Exchange Commission. T a b l e 7.—Consolidated B u s i n e s s I n c o m e a n d P r o d u c t , 1929-46 [Millions of dollars) 1929 94,144 Business gross product.,**,. ... 92,582 Consolidated net sales.. 73,281 To consumers 4,040 T o government 14,262 To business on capital account 993 To abroad 1.562 Change in inventories 94, 144 Charges against business gross product. 7,350 Income originating in business... 43.710 Compensation of employees 43,241 Waires and salaries.. 43,241 Disbursements ,. Excess of wage accruals over dis 0 bursements 469 Supplements to wages and salaries... Employer contributions for social 12 insurance..... 467 Other labor income Income of unincorporated enterprises and inventory valuation adjustment... 13,027 8,262 Business and professional Income of unincorporated enter prises — a 120 142 Invcntoiy valuation adjustment. 5,665 Perm 5,811 Rental income of persons Corporate profits and Inventory valua 10,098 tion adjustment Corporate profits before tax - 0,589 Corporate profits tax liability,—.. 1,398 8,188 Corporate profits after tax 5,734 Dividends 2,454 Undistributed profits 472 Inventory valuation adjustment Net Interest - 4.344 7,667 Adjustments to business net product. Indirect business tax and nontax lia 7,003 bility 687 Business transfer payments -30 Statistical discrepancy Less: Subsidies minus current surplus of -147 government enterprises.. 8,637 Capital consumption allov allowances. 1930 1931 1932 1933 81,877 07,586 50,369 48,341 82,160 68,94' 53,432 49,060 46,041 43,617 06,216 4,633 57,316 3,651 3,191 10,492 4,459 3,440 2,925 327 391 919 0,723 449 -2,603 -1,619 —283 81,877 - 1 , 3 6 1 50,860 43,341 66,201 67,686 34,393 32,340 30,423 £0,705 24,60S 23,001 38,001 32,614 2.1,204 22,076 38,001 32,195 24,294 22,670 32,105 1934 1935 1930 1937 1938 1939 66,466 53.250 74,245 79,83' 3,623 57,600 j2,345 71,019 77,528 '4,601 88,908 86,633 08,275 6,032 10,708 1,618 2,275 48,938 >3,.41 59,105 03,350 60,907 4,109 3,961 002 -1,144 56,466 40,376 26,738 26,352 20,332 0 356 1940 3,862 4,390 4,671 5,036 5,241 7,314 9,131 7,284 101 476 1,314 210 906 3,226 2,309 -973 8,250'74,245 79,837 73,623 18,022 56,658 63,431 56.604 .9,334 33,429 38,597 35,029 !S,951 32,741 37,120 33,386, £,951 32,741 37,120 33,385 88,908 "1,968 41,643 39,773 39,773 0 0 0 0 1,477 1,044 1,761 1,870 2941 1942 1943 1944 1945 194C 111,924 140,345 162,483 172,998 172,362 177.099 103,059 133,929 163,663 174,955 173,584 173,435 78,271 86,713 67, 102 105,054 115,769 137,650 14,960 43.244 61,280 62,768 47,089 10,582 13,337 7,914 6,771 7,615 10,230 20,918 416 4,285 1,482 1,058 -490 -422 3,874 1,410 -1,180 -1,967 -1,222 3,664 111,924 140,345 102,483 172,998 172,362 177,099 90,656 117,398 138,369 144,007 142,251 151,824 52,442 60,716 80,133 84,784 83,264 91.512 SO, IDS 04,043 76,073 81,278 79,308 87,934 60,163 64,043 76,764 81,471 79,794 88,014 -103 3,606 14 3,466 0 462 0 419 0 361 0 325| 13 440 13 406 13 348 13 312 10,003 7,032 8,214 5,316 4,92t 3,200 3,207 2,925 261 1,049 1,223 1,330 1,404 1,747 2,014 2,335 2,315 2,129 2,088 431 421 428 826 1,191 1,32? 1,440 664 627 460 427 6,603 0,858 12,164 12,249 10, "OS 11,28? 12,600 10,504 2^724 25,951 27,690 30,165 34,951 4,276 4,987 6,074 6,630 0,347 6,776 7,720 9,560 12,112 14,128 15,310 16,7C0 10,738 6,277 755 3,031 4,780 4,705 6) 2.898 3,620 2,911 296 1,715 3,450 -525 2,282 2,018 4,330 5,037 6,194 6,660 6,120 221 - 5 4 - 5 0 -120 - 2 0 2,327 4,871 6,090 5,619 4,421 2,095 2,288 2,682 3,140 3,278 6,426 1.635 3,166 -779 S4S 500 2,313 - 1 , 2 7 0 5,474 4.135 -3,156 -5.414 3,260 2,414 4,603 4,622 7,107 8,745 7,155 534 -705 -123 8.569 2,608 16 340 0 333 -30 3,628 24 359 1,038 2,838 4,842 6,044 1,063 3,066 6,580 6,07* 966 1,411 1,512 382 746 524 017 2,100 4,109 4,663 -3,390 -300 2,812 4,563 4,682 2,618 2,1 2,688 -0.008 - 2 , 4 4 8 -1,671 -712 -396 -110 1,047 - 2 , 1 4 3 -625 -227 -738 - 3 3 4,300 4,093 3,902 3,704 3,541 3,401 3,937 3,931 9,037 a oss 10,030 8,614 6,942 7,772 10,210 12.464 14,266 15,369 10,754 21,045 -166 - 5 2 -644 -352 - 1 3 8 - 5 4 -1,308 -69 4,596 4,040 0,938 10,612 11,823 12,330 13,465 15 213 3,465 3,620 4,322 5,371 6,150 0,f 6,952 6,805 5,569 8,943 6,283 0,091 1,462 2,878 4,821 6i213 3,069 3,900 1,102, 2,313 -714 -148 3,284 '3,102 9,793 10,690 -1,91.1 -1,979 -3,008 104 4,045 3,082 1,040 2,042 2,978 —930 963 3,384 9,310 6,703 73r 1,437 7,055 669 1,236 7,815 8,190 8,663 9,167 9,154 641 429 607 594 694 364 -346 302 -1,050 - 9 1 -45 7,489 18 7,070 485 00 39 403 283 420 170 7,043 7.193 7,607 7,792 7,808 7,914 8,250 6,859 049 I,' -49 3,136 260 3,100 0 2,274 451 462 14,334 17,001 7,846 9.166 4,356 4,799 -2,617 3,004 32,166 19,699 20,873 11,665 9.208 4,190 5,013 -1,274 2,988 13,207 23,454 23,103 19,426 16,136 24,278 23,648 19,958 20,824 14,163 13,913 11,253 8,601 10,125 9,636 8,675 12,223 4,340 4,530 4,677 5,523 5,735 5,049 3,998 6,700 - 8 2 4 -355 -633 -4,689 2,681 2,547 2,445 2,301 13,726 16,613 14 227 14,435 10,021 11,290 11,813 12,685 14,029 16,339 16, 851 628 504 494 502 431 664 649 720 2,599 3,099 -2.101 470 1,050 058 102 9,102 843 775 659 183 160 9.740 16,388 11,573 11,384 10, 340 T a b l e 8 , — G o v e r n m e n t R e c e i p t s , 1929-46 " [Millions of dollars] 1929 1930 1931 1932 1933 1934 1935 1036 1937 1938 1939 1940 1041 1042 1943 1944 1945 1946 11,237 10,763 9,479 8,883 9,328 10,400 11,376 12.930 15,390 15,033 16,403 17,785 26,219 32,908 49,169 52,018 53,640 60,231 Personal ton and nontax receipts before refunds Equals: Persona! tax and nontax receipts Indirect business tas and nontax accruals before re- Other See footnotes a t end of table, 3,833 3,053 2,049 1,705 2,673 3,643 3,978 5,026 7,049 6,401 6,742 643 360 495 000 1,323 1,133 842 1,143 1,742 1,651 1,260 567 320 452 1,238 1,003 375 580 740 1,319 1,244 874 66 129 30 61 60 402 01 248 380 390 371 15 35 13 29 16 16 24 20 14 21 17 20 15 14 21 49 36 35 16 60 13 19 10 25 696 607 331 474 827 1,130 1,723 1,635 1,236 1,263 1,134 64S 834 1,254 1,347 426 325 465 1,253 760 906 1,306 1,219 1,007 564 637 13 11 449 446 102 80 912 490 10 425 56 8,685 15.056 23,199 39,344 41,977 43,110 38,339 1.393 2,044 4,690 16,940 17,880 20,710 13,881 1,036 1,622 4,062 16,923 17,133 19,848 17,987 341 505 734 401 471 461 663 I 121 77 74 81 21 16 42 70 159 103 118 20 23 23 344 1,331 1,670 28 1,304 2,016 4,068 16,517 17,536 19,379 17,211 2,679 7,660 11,321 13,702 13,454 10,842 037 1,068 2,270 2,235 2,273 2,429 2,238 2,347 2,062 3,593 636 1,246 1,833 1,730 1,693 1,775 1,709 1,826 2,122 2,817 7 375 459 138 587 566 569 002 928 723 387 452 40S 478 503 567 748 636 593 C « 241 703 026 699 1,006 577 688 631 760 1,141 4,073 3,364 1,216 899 1.290 4,979 4,076 1,454 990 1,632 0,236 5,257 2,083 025 2,240 7,180 0,214 2,370 1,034 2.810 7,947 7,286 2,691 t,21S 3,357 22 NATIONAL INCOME SUPPLEMENT TO SUUVEY OF CURRENT BUSINESS T a b l e 8 . — G o v e r n m e n t R e c e i p t s , 1929-46 ' — C o n t i n u e d IMillions of dollars] 1939 Federal—Continued Indirect business tax and nontax accruals before re funds—Continued Customs duties Capital stock tax Nontaxes*--.. _,. Less: Tajc refunds Equals: Indirect business tax and nontax accruals... Contributions for social insurance' State and local Personal tax and nontax receipts* Income taxes . .*..„,..* > Death and gilt taxes — Motor vehicle licenses » ..: Property taxes n Other taxes " Noutaxos " ... Corporate profits tax accruals... . „. Indirect business tax and nontax accruals » Sales taxes » General .* ,.* Gasoline U finer Tobacco. „ . „_...„-.._.. . Motor vehicle licenses Property taxes " Other taxes i> _ Nontaxcs '*. Contributions for social insurance • ._ Federal grants-in-aid « 599 1930 4T4 1931 373 50 49 22 IS 1,193 1,045 894 124 124 123 7,571 7,335 7,743 1,380 1 , 3 7 3 1,251 139 74 110 165 1S2 168 187 1S3 171 148 154 149 47 47 49 094 695 642 145 75 98 5,810 6,110 5,965 414 545 £00 7 (if) ("> 414 500 S24 I ('!> ("' 33 TO 146 154 tS3 4,539 4,543 4,727 513 501 492 £10 232 £03 129 139 119 125 313 I 5ft 2G1 1032 1933 1634 1935 1936 403 308 3: 29G 95 138 92 80 3» 39 37 36 43 54 22 89 39 13 924 1,619 2,181 2,181 2,251 13« 391 115 121 125 7,312 7,167 8,550 9,101 8,023 1,124 990 1,000 l;061 1,123 64 67 121 107 67 97 109 110 137 no 158 170 152 153 163 129 130 329 )20 144 60 64 52 47 673 4S5 485 479 475 131 157 J 00 59 67 i, 844 6,436 5,634 6.009 6,412 552' 041 604 1,0M 1,906 10 223 300 398 01 563 620 690 520 522 141 169 89 34 4 35 49 24 20 10 153 166 133 140 137 4,424 3,962 3,907 4,023 4,058 477 619 452 436 478 260 248 247 263 253 170 18,1 197 207 153 502 1,633 1,706 724 134 259 1937 1938 1939 1940 2941 1942 1943 1944 378 327 357 344 439 313 410 372 127 133 107 139 282 320 381 219, 112 67 45 42 40 44 55 55 35 24 35 25 22 19 26 2,406 2,216 2,322 2,627 3,507 4,049 4,944 6,171 1,573 1,734 1,379 2,013 2,504 3,161 4,181 4,816 9,105 0,320 9,649 9,957 10,370 10,597 10,767 10,933 1,198 1,227 1,205 1,240 1,277 1,204 1,29S l . f " 320 204 20S 201 214 235 265 298 1945 1940 469 123 111 115 129 137 122 115 110 183 210 183 181 190 219 202 1S9 144 143 144 137 137 140 134 142 84 35 92 83 75 69 78 88 505 479 489 478 477 47S 482 471 459 451 156 199 165 134 277 344 6,751 6,933 7,043 7,394 7,729 7,764 7,741 7,858 1,417 1,403 1,542 1,705 1,942 1,894 1,840 1,364 745 449 465 533 621 632 700 440 673 958 862 711 865 7S2 815 748 175 184 205 241 270 267 239 174 157 156 130 122 73 102 57 55 226 211 214 213 178 1S2 200 170 4,162 4,277 4,285 4,407 4,440 4,470 4,467 4,453 986 885 917 822 732 749 786 722 304 303 329 £85 206 2SS 280 303 356 307 335 243 227 280 257 267 947 942 807 983 778 764 178 60 7,887 6.590 12,397 1,578 407 144 218 143 99 587 450 8,964 2,659 1.022 1,025 402 £10 277 4,473 1,200 355 400 1,005 i Includes transactions of social insurance funds, which can be separated by use of the data furnished in table 10- For an explanation of the treatment of government enterprises cf. p p . 4-5. State and local enterprises include State workmen's compensation funds, in addition to undertakings classified as enterprises by the Bureau of the Census, such as alco holic beverage monopolies; water, electric, gas, and transit systems; Sousing authorities; and other large commercial activities involving significant amounts and operated and ac counted for as enterprises. The following list enumerates Federal enterprises by their current names: Agricultural Marketing Act Revolving Fund, Alaska Railroad Company, Army I'ost Exchanges, B a n t s for Cooperatives, Bonneville Power Administration, Boulder Canyon Prelect, Commodity Credit Corporation, Defense Homes Corporation, Disaster Loan Corporation, Electric Home and Farm Authority,Emergency Crop and Feed Loans, Export-Import Bank, Federal Crop Insurance Corporation, Federal Deposit Insurance Corpora tion. Federal Farm Mortgage Corporation, Federal Home Loan Bank System, Federal Housing Administration, Federal Intermediate Credit Banks, Federal Land Bank?, Federal National Mortgage Association, Federal Prison Industries, Inc., Federal Public Housing Authority, Federal Savings and Loan Insurance Corporation, Home Owners Loan Corpora tion, Inland "waterways Corporation, Navy Ship Stores and Ship's Service Stores, Panama Canal Zone, Panama Railroad ComjKiny, Petroleum Reserves Corporation, Post Office, Production Credit Corporations, Reconstruction Finance Corporation (including Office of Defense Plants. Defense Supplies, Metals Reserve, and Rubber Reserve), Regional Agri cultural Credit Corporations, R F C Mortgage Conywny, Rubber Development Corporation, Rural Electrification Administration, Smaller War Plants Corporation, Tennessee Valley Authority, XT. S. Commercial Company, u . S. Maritime Commission (operating activities), War Damage Corporation, "War Shipping Administration (commercial operating and war risk insurance activities). Government receipts and expenditures presented in these tables, and the implied surpluses and deficits, differ from Government receipts and exjjenditures presented in state ments of Federal Government finances, such as the Dally Treasury Statement, the U. S. Budget, and the Combined Statement of Receipts and Expenditures, and in statements of State and local government finances, either as published by the various governmental units or as summarized by the Bureau of tbe Census. These didevenees may be grouped under four headings: (a) coverage; (b) classification; (c) tuning; (d> transactions accounted for. (a) In the national Income and product tables, a consolidated Government account is presented. Tito transactions of social insurance funds arc merged with other Government transactions; a consistent treatment of Government enterprises (described on pp. 4-5) is provided, the net efTect ot which is to count the capital expenditures less the current surplus of those enterprises as part of the total Government deficit; and certain other entitles are covered which In Government financial statement are accounted for separately from ordinary Government receipts and expenditures, e. g., the receipts and expenditures of minor trust accounts, the Exchange Stabilization fund, and Federal purchases and sales of silver and minor coin metals. The purchase and sale of gold, however, arc not reflected in the government accounts liere shown. Gold is regarded as an international asset and all gold transac tions are accounted for under transactions with the rest of tho world (table 11). (b) Government receipts and expenditures in the present table are classified in a manner significant for economic analysis and consistent with the accounts of the other sectors of the economy- I t is not, of course, suggested that this is the only possible significant analytical classification. (c) Government transactions. In these tables, are recorded at the time they appear in the accounts tor the other sectors of the economy, whereas government financial state ments generally record revenues upon receipts by tbe Government, and expenditures at the time of payment. In the national income and product tables, receipts from individuals are recorded when individuals make payment (the lag between time of payment and time of receipt by the Government may be substantial, e. g., in tlio case of the Federal with holding tax or employee contributions for social insurance). Receipts from business are on an accrual basis; this tends to date corporate profits taxes, among others, a year earlier than when they are recorded in Government financial statements. Receipts from abroad are recorded at the tunc at which they are entered In the balance of international payments (which again may diflor substantially from the time at which they are covered into the Treasruy, e. g., in the case of cash and credit lend-lease, sales of surplus property, etc.). Domes tic sales of surplus consumption goods and materials, whether for cash or on credit, are rocordod at the time otsale. Tax refunds arc netted against tax payments [on a current basis Tor individuals and on an accrual basis for business). Receipts from renegotiation of war contracts are deducted from government expenditures in the year of the original overpay ment (corresponding adjustments are made in profits and in taxes). Government purchases from business arc adjusted to an accrual basis by adding to Government expenditures as calculated from the Daily Treasury Statement an estimate of the change In net business receivables from Government. Two other timing adjustments required to harmonize the Federal Government accounts completely with the accounts of other sectors cf the economy could not be made. First, an adjustment should have been made for Government checks recorded as paid by the Government in a given period but not received by the payee in that period, (The Dally Treasury Statement, the basic source from which the estimates of Federal expenditures are derived, was on a cheeks' paid basts for most of the period under consideration.) Second, an adjustment should have been made for changes in the various departments' holdings of foreign and special currencies, since the Dally Treasury Statement reflects the acquisition of these special and foreign currencies by these departments rather than their disbursement. (d) Not alt transactions recorded in Government financial statements appear in the national Income and product tables. Receipts from the sales of, and expenditures for the acquisition of, land and fixed second-hand assets arc not counted. Similarly Government loans are not counted as expenditures and their repayment does not appear as Government receipts. Conversely, certain transactions arc recorded which do not ordinarily appear in Government financial statements, or appear in a very different form, such as Government contributions to the retirement funds of its own employees and to military life insurance funds. These contributions appear in the national income and product tables both under "Compensation of employees" In Government expenditures and under "Contributions for Social Insin-ancc" in receipts. * Federal grants-in-aid to Srato and local governments arc reflected in Federal expenditures and in State and local receipts and expenditures. Total Government receipts and expenditures have been adltisted to eliminate this duplication. ', Consists of individual income tip; and victory tax. < Consists of dividends tax and automobile use tax. ''Consists mainly of charges for Government products and services not accounted for" under Government en troprises; of fines and penalties; and of donations. Includes also the excess of receipts over expenditures derived from the services of cricmy prisoners.of war to private contractors. Receipts from the sale of surplus property are not included, «Cf. lablc. tS. 1 Consists mainly of charges for Government products and services not accounted for under Oovci-nment enterprises, including rents and royalties; and of flues and penalties. Receipts from the sale of surplus property arc not included. < Cf. table 10, I All local taxes, other than property tax and District of Columbia corporate profits tax, arc Included in "other taxes." " Includes also drivers' licenses. II Property taxes levied on houses of owner-occupants are classified as Indirect business taxes, 11 Consists of poll taxes and m iscellaneous licenses, and all local personal taxes with the exception of the property tax. '3 Consists of charges for Government products and services not accounted for under Government enterprises (such as tuition fees and pubiie hospital fees); fines and penalties; donations; and special assessments for outlay paid by unincorporated business, including home-owners. » Minor sales taxes not specified below are included in "other taxes." ii Consists of gross receipts taxes, franchise taxes, licenses, severance taxes, documentary and stock transfer taxes, minor sales taxes, and all local Indirect business taxes other than tbe property tax. it Consists mainly of charges for Government products and services not accounted tor under Government enterprises, including rents and royalties; of fines and penalties; special assessments for operation; and donations. " Includes shared receipts as well as grants-in-aid. The latter consist of highway grants, education grants (agricultural research and education, vocational education, and rehabil itation, war training and research programs, and veterans' postwar training programs), public assistance grants (mainly categorical assistance under the Social Security program), grants for tho administration o(tho Unemployment Compensation program and of the C S. Employment Services, Public Health grants, grants made by the Bureau of Community Facilities of tho Federal Works Agency to war-congested communities, the Federal contribution to tho District of Columbia, grants made by the Federal (Emergency Relief Admin istration and the Public Works Administration, and miscellaneous other grants. 1J Small amounts included in "other taxes." July 1947 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CUREENT BUSINESS 23 T a b l e 9 . — G o v e r n m e n t E x p e n d i t u r e s , 192°>-46 * [Millions of dollars] 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1039 1940 1941 1942 1943 1944 1945 1946 10,220 11. OM 12,277 10,588 10.6D0 12.816 13.225 16,809 14,705 16.523 17,270 18,332:28,712 i 63.994 i 93.390 IO3.U6J93,189 46,779 I Net purchases from business . Other 1 ...— .. Less: Domestic sales of surplus consumpPurehases from abjoad ' . . Grants-in-aid to State and local governments ( Interest paid a ---.„ Subsidies less current surplus of government enterpiises 11 .— Compensation ef employees » . . Other" „ Less: Current surplus of government enterprises 2,648 2,777 4.142 3.170 3.983 6,393 6,516 1,311 1,410 1,587 1,480 2.018 2,991 2.931 935 942 901 1,187 1,718 1.791 900 615 519 732 1,234 1,035 341 404 333 334 404 467 155 209 271 613 136 443 830 186 195 244 70 103 38 694 117 441 738 292 86 7,689 7,161 3,456 3,706 2,236 1,469 218 642 773 231 232 80 71 92, 98 22 12 746 1,675 125 313 389 444 684 670 304 236 60 04 4 913 134 479 7IS 239 173 8,448 7,681 3,737 3,944 2,293 1,651 349 640 842 202 222 164 7,552 6,597 3,565 3,032 1.445 1,537 502 662 356 194 209 116 a 368 7,759 3,(30 4,129 2,544 1,585 2C4 684 829 245 239 3,501 4,315 3,592 1,158 502 656 7,22sl 8.451 4,552! 5.280 3,036 3,529 1,422 1,687 629 476 893 1,211 8,955'lO. 09420.545'56.15085. 97905. SSoW 929 3 6 584 5,157 6,170 16.023 52.027 81.223 89.029 74.963 20. 871 3,444 3,537 6.04610,79121,288 28,059 30.501 14.862 1,049 2,549 11,547 40.043 58.524 60.045 44,268 6,948 637 974 3,583 9,296 5,3.53 1.761 1,440 835 1,116 1,581 7,966 30,763 63,233 58,493 43,240 6,829 6 7 4 84 330 64 64 66 49 94 65 39 87 367 69 63 70 63 45 99 59, 3 37 6 3 4 6 6 6 4 095 599 623 2,064 328 1,196 1,240 1,426 1,875 807 724 602 1,683 1,706 778 988 357 764 774 517 590 616 619 $43 726 526 485 845 1,016 1,025 1,062 1,240 1,158 1,189 1,298 1,379 605 546 572 577 024 539 328 426 499 251 7,119 5,940 3,531 2,409 834 1,525 759 653 844 191 233 580 8,055 0,759 3,884 2,375 1,13] 1,744 963 040 333 193 297 730 8,415 0,955 4,178 2.777 974 1,303 1,172 616 806 101 327 413 8,032 6,028 3,696 3,232 1.592 1,640 862 616 806 190 374 465 8.244 7,038 3,889 3,149 1,410 1,739 1,023 688 779 191 405 578 3,350 7,470 4.121 3,349 1.4SS 1,801 1,209 573 762 139 402 927 9,303 7,911 4,185 3,726 1,809 1,017 1,272 582 752 190 442 915 9,095 7,763 4.2801 3,483 1,659 1,924 1,262 £65 761 196 495 666 3,974 7,781 4,368 3,413 1,416 1,997 1,242 515 709 194 664 16 1,193 1,381 18S 1,428 383 1,038 1,726 638 67 1,411 1,935 574 1,246 942 1,707 2,481 774 209 925 1,877 952 1,338 947 2,420 3,262 S42 422 204 2,002 1,798 4,298 870 8,335 4,335 1,000 769 8,732 7,643 4,442 3.201 1,111 2,086 1,229 479 681 202 619 861 8,353 7.373 4,622 2,756 702 2.054 1,220 433 660 227 678 1,325 3,504 7,546 4.883 2,663 566 2.097 1,244 380 626 246 666 1,463 9,130 8,155 5.324 2,831 608 2,223 1,323 340 695 256 688 716 -1,139 1,150 2,239 9.158 1,005 4,190 5,207 1,017 1,560 11,200 9,983 6,340 3.634 1,316 2,318 1,633 301 568 267 717 > Cf. footnote 1 to table 8. > Cr. footnote 2 to table S. ' Cf. tables H a n d 15. The value of food and clothing furnished in kind to the armed forces is included in "Compensation of employee*" rather than in " N e t purchases from business, other." For typos of employees Included with respect to residence cf. discussion on p. 3. <CC table 31. Includes new construction in the continental United States. Excludes construction in territories and overseas, work relief, and repair and maintenance construc tion. Compensation of employees em ployed in force account new construction in the continental United States is reflected both under "New construction" and under "Compensa* Hon of employees" and leads to an understatement of "purchases from business, except construction." It is believed that this understatement is small. Sum of Federal and State and local 'TIOW construction" for 1935-43 is smaller than "New public construction" in tab)e3l, because of theexcluston of Works Projects Administration new construction. In table 9 ail Works Projects Administration construction is reflected under "Compensation of employees" and "Net purchases from business, other." * This item is a residual. I t is obtained by deducting from total government expenditures, as reported in government financial statements, expenditures not constituting pur chases of goods and services, and purchases of goodsandservicesHsted elsewhere under this heading. Includes net inventory change for government enterprises, which may be nega tive. Cf. also footnotes .3 and 4. » Excludes property income and loan transactions. Includes government cash gifts and contributions. Includes only direct purchases from abroad. Items of foreign origin pur chased irom domestic business arc included in "Net purchases from business, other." ' Excludes property income and loan transactions. Major Items Included are sales of surplus property and cash and credit lend-lease. < Cf, table 36, • Cf. footnote 17 to table 8. 19 Consists of general government and government enterprise interest. Intragovernmental interest transactions are eliminated In the net interest paid figures. 11 Subsidies reflected consist of Government payments to farmers, payments for the exportation and diversion of surplus agricultural commodities, shipping and housing subsidies, and 11 wartime subsidy program administered mainly by the Commodity Credit Corporation and the Reconstruction Finance Corporation. the Cf. tables 14 and 15. Room and board furnished in kind to employees of public hospitals and correctional Institutions is Included in "Compensation of employees" rather than In " N e t purchases from business, oihcr." " For years in which total State or loca! expenditures are reported in government financial statements, this item is a residual obtained by deducting from the reported total those expenditures not constituting purchases of goods and services and purchases of goods and services listed elsewhere under this beading. For years for which total expenditures are notrcportcd, It wasnecessary to estimate tbisitem directly. Cf. also footnotes i and 12. T a b l e 10.—Social I n s u r a n c e F u n d s , 192^-46 1 [Millions of dollars] 1929 Federal: Contributions for social insurance Employee contributions... Employer contributions Government and government enterprises Private Less: Transferred to gonorat government Equals; Retained by social insurance funds Plus: Investment income Equals: Net receipts Less: Benefit payments Equals; Surplus (•£•) or deficit C—) State and local: Contributions for social insurance , Employees,.. .... —.......... Employer (governmen l and government enterprises). Less: Transferred to general government Equals: Retained by social Insurance funds Plus: Investment income Equals Net receipts Less: Benefit payments Equals; Surplus (-B or deficit (—) 124 05 1930 124 1931 123 20 1932 125 95 30 30 1933 HE 124 21 145 44 101 124 26 159 61 99 123 2B 149 60 125 10 144 72 72 115 25 140 82 38 119 47 72 1 118 16 134 72 62 129 £1 78 1 128 19 147 78 139 55 84 1 188 21 159 86 73 153 57 96 1 158 24 176 95 81 170 63 107 2 163 28 196 110 1934 1935 1936 1937 1938 1,734 1,879 45S 491 1,276 1,388 79 86 1,197 1,302 138 160 1,596 1,719 94 122 1,690 1,841 60S 698 1,084 1,145 121 02 29, 26 3 3 118 25 148 94 49 130 92 44, 37 7 7 129 26 IS5 93 62 391 104 287, 47 240 62 339 37 376; 05 2SI 1,573 480 1,093 66 1,027 133 1,440 194 1,594 142 1,452 183 65 118 2 181 31 212: 119 93 197 70 127 2 195 35 230 127 103 207 76 131 2 205 39 244 137 107 227 36 141 2 225 43 2*18 144 124 243 96 147 3 240 48 283 151 137 1939 257 105 152 3 254 307 157 150 1949 1941 1942 1943 2,015 546 1,469 95 1,374 147 1,868 152 2,020 840 1,130 207 112 15S 3 264 59 323 163 160 2,504 686 1,813 104 1,714 1S6 2,313 183 2,501 713 1,783 3,161 1.044 2,117 138 1,979 172 2,989 224 3.213 754 2,459 4,1ft 4,816 5,761 5,590 1,706 2,092 2,131 1,753 2.475i 2,724 3,580 3,837 2,301 212 3,969 270 4,248 54S 3,703 440 2,278 182 4,634 365 4,999 664 4,335 1,495 2,085 202 5,559 491 6.050 1,336 4,714 1,801 2,036 2G0 5,330 £93 5,923 2,357 3,596 280 115 165 3 277 66 343 175 168 307 122 185 4 303 R9 372 194 178 335 133 202 4 331 74 405 213 192 356 144 212 4 352 78 430 223 207 379 154 225 6 374 82 456 233 223 400 165 235 5 395 87 482 245 237 1944 1945 1946 < For a listing of social insurance funds and for detail on employer and employee contributions, and benefit payments, cf. tables 34,35, and 36. Employer contributions are on an accrual basis, 740228—iT- 24 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS July 1947 T a b l e 1 1 . — T r a n s a c t i o n s of t h e R e s t o f t h e W o r l d W i t h t h e U n i t e d S t a t e s , 1929-46 > [Millions of dollars] 1929 Net current payments to the Uni ted States Net payments ot factor income.. Wages and salaries' Interest Dividends Branch profits Net purchases from the United States Net purchases from United States Business ' * - . . . . ................ Purchases from United States busi- 771 S30 1 577 89 143 -39 993 1930 1031 1932 1933 690 197 169 150 746 547 303 323 1 1 I 1 60S 560 426 324 26 - 3 7 - 4 4 - 2 2 111 33 2D 10 - 5 6 -350 - 2 2 4 - 1 7 3 918 m 5,903 4,403 Sates to United States business— 4,909 3,430 2,421 Net purchases from United States Government . . . . . . . . . . . . . . . - 7 0 - 7 1 -SO Purchases from United States Gov ernment *.— 33 22 12 Sales to United States Govern ment' 103 92 Net purchases from United States per sons -962 - 9 0 * -719 Purchases from United States per sons ' SI 43 23 1,013 947 Sales to United States persons ' 747 Net capita] movement t o the United States «... - 7 7 1 -690 -197 long-term -240 - 2 2 1 215 Short-term - 4 - 4 7 9 -637 Change in gold stock i» -143 -310 133 Errors end omissions -384 320 92 Adjustment tor United States territories and possessions " 1934 429 303 1 242 8 52 126 1935 1936 -54 367 1 207 60 9» -421 -93 309 1 195 -8 112 -393 1938 1937 1939 62 1,109 2S3 386 1 1 160 138 II 217 111 30 -221 723 1940 313 2 127 137 47 575 1941 1^ 357 3 120 149 85 1,152 1,124 363 6 126 109 122 761 1942 1943 1944 1945 - 2 0 7 -2,245 -2,099 -754 397 366 367 423 10 14 12 10 123 130 US 118 107 137 103 88 176 118 101 190 - 5 7 2 -2,612 -2,522 -1,151 1946 4,773 446 3 122 118 193 4,327 4,286 327 602 101 210 476 1,314 1,123 1,013 1,482 1,05S -490 -422 1,942 1,960 1,561 1,633 2,532 1,930 2,740 2,639 2,966 2,756 3.971 3,495 3,747 2,433 3,336 2,763 4,785 3,167 5,378 3,896 4,209 3,151 3,433 3,923 3,877 4,299 -49 -39 -55 -65 -94 -64 -64 -34 -330 -1,193 -1,411 -925 -204 1,139 3 5 6 5 3 37 188 574 952 1,793 2,289 68 99 70 60 87 367 1,381 1,985 1,S77 2,002 1,150 -538 -603 -527 -484 -391 -437 -711 -1,175 -1,363 -1,097 19 22 28 37 59 43 20 36 456 560 631 441 504 434 4S7 520 -429 93 —62 -1,109 -888 -1,509 -1,124 54 200 777 621 - 7 3 -642 97 436 27 222 1,072 431 366 344 1,470 1,530 -389 -446 -419 131 -1,266 -1,822 -1,272 -1,364 -1,799 -3,174 -4,243 -719 -S3 61 415 157 425 249 476 789 1,277 73 40 477 207 -159 67 23 -8 45 45 756 1,220 2,945 2,099 150 284 391 4 4 64 63 45 59 -655 - 4 5 1 -437 -467 17 468 673 -150 -169 77 257 17 -147 21 1,225 757 34 356 1,350 -37 376 409 416 4,946 10,210 4,530 5,925 94 125 1,457 1,222 754 -4,773 -1,372 3,342 1,340 -1,176 548 - 6 2 3 -12S 113 366 250 i The presentation of the international transactions of the United States in this table is adapted to the concepttjal framework of national income statistics and differs somewhat from their current presentation in the official estimates of the United States balance of payments. Subject to one qualification (explained in the following paragraph), the item " N o t current payments to the United States" in this table agrees with the item '"Excess ot receipts over payments" on "good's and services" and "unilateral transfers published in t h e regular balance of payments statement. In alternative terminology this item is known as the balance of payments on current account, and measures the excess, positive or negative, of current receipts from abroad over current payments to abroad, and hence also the net foreign Investment otthe United States. The following major differences between table 11 and the regular balance of payments statement as currently published should he noted: a. The territory for which the United States balance of international payments is calculated includes, in addition to the continental United States, United States territories and possessions. United States national income and product estimates are calculated for the continental United States only. I t is believed that for tbe prewar years the error involved in this inconsistency is not large. For the years 1941-46, however, a partial adjustment was mado by taking into account United States Federal Government disbursements in United States territories and possessions, which, from tbe standpoint of national income statistics as here presented, constitute purchases from abroad. Accordingly, for the years 1041-46 " N e t current payments to the United States" in table 11 differ from the "Excess ot receipts over payments" on "goods and services" and "unilateral transfers" as published in the regular balance of payments statement by the amount of this adjustment. b . Gross receipts and payments in table 11 differ from grossreeeipts and payments in tbe regular balance of payments statement because of tbe exclusion from table 11 of unilat eral transfers in kind which do not give rise to international claims. ( £ . g., lend lease, other than relmburseabte lend lease, reciprocal aid, U N R R A shipments, transactions in nonredeemable special currency, and personal and institutional remittances infcind.) The regular balance of payments statement en ters these transactions twice (once as a credit and once as a debit item). Given the framework of national Income statistics, it was more convenient to omit them altogether from transactions with the rest of the world. c. The transactions classified as Government transactions in table 11 differ from those so classified in the regular balance of payment statement, because they exclude the trans actions of Government enterprises and the personal expenditures of Government civilian and military personnef abroad. In table 11 the former are classified under "business," and the latter under "persons." d. The regular balance of payments statement distinguishes between "goods and services" and "unilateral transfers," such as gifts and contributions. "Goods and services" are defined to include payments and receipts of property andlabor Income, In table 11 property and labor income transactions are segregated. On the other hand, unilateral monetary transfers are combined with the remaining goods and services transactions under tbe heading "purchases" and "sales." » Cf. footnote 4, table 14. ' Includes net exports of gold plus increase in monetary gold stoCk, which is the equivalent of domestic production less industrial consumption of gold. * The effect of the treatment of gold described in footnotes 3 and 10 is to make tbe United States production of gold for monetary and export purposes a component of net capital movement ("netforcbm investment" component of gross national product). * Includes also unilateral cash transfers. Cf. footnote Id and also footnote 7 to table 9. * Includes also unilateral cash transfers. Cf. footnote Id and also footnote 6 to table 9. Includes also adjustment for United States Government expenditures in United States territories and possessions described in footnote la. ' Consists of unilateral cash transfers. Cf. footbote Id. 1 Consists ofpersonal expenditures abroad, including those of Government civilian and military personnel, and of unilateral cash transfers. Cf. footnote Id. ' Includes "Errors and omissions" which arc assumed to reflect largely unreported capital movements rather than unreported current payments and receipts. '■An increase (decrease) in the United States gold stock appears as a negative (positive) entry. u Cf. footnote la. Tbis item offsets the adjustment which has been made to tbe regular balance of payments statement with respect to United States Government expenditures in United States territories and possessions under "Sales to United States Government," for which no corresponding adjustment has been mado in the other components of " N e t capital movement to tbe United States." July 1947 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS 25 T a b l e 12.—'National I n c o m e b y Legal F o r m of Organization, 1929-46 [Millions of dollars] 1920 National Income' 1930 1931 1932 1933 1934 1935 1938 1937 193B " I 1(140 1941 1 1042 1943 1 1944 1 IMS 1 1948 87,365 75,003 58, $73 4I.6E0 351,534 48,613 56,789 66.941 73,627 67,375 72,532 81,347103,834 136,480 168,262 182,260 132,808 178,204 90,656 117,398 136,369 144,907 142,251 151,824 Income originating in, business, total < 77,350 66,201 50,706 34,393 32,340 40,376 48.022 56,658 63,431 SB, 50161,611 45,197 38,242 28,143 18,262 17,229 23,238 20,926 32.027 37,32132,047 35,992 42,243 56,454 73,900 89,812 93,531 87,076 87.967 Corporate business 33,522 30,074 24,700 18,464 17,493 20,493 22,462 25,028 29,814 26,520 29,033 32,076 40,964 53,149 65,409 60,466 66,332, 71,051 Compensation of employees 33,120 29,683 24,352 18,159 17,216' 20,186' 22,135 26,053 28,603 26,196(27,600 30,567 39,103 60,918 62,091 66,393 63.819 08,024 Wages and salaries Compensation of corporate officers. 3,337 3,139 2,698 2,133 1,095 2,173 2,345 2,713 2,809 2,591 2,697 2,950 3,472 3,091 3,745 3,759 (*) (0 29,783 20,544 21,654 16,026 36,221 18,013 19,7C0 22,340 25,794 22,605 24,912 27,607 35,631 47,227 56,946 62,634 P) Other wages and salaries 354 277 307 327, 575 1,211 1,324 1,424 1,619, 1,861 2,231 2,718 3,073 3,013 W 402 391 Supplements to wages and salaries 305 Corporate profits and inventory valuation 3,027 10, OSS 6,420 1,635 -1,961 -1,979 1,038 2,838 4,842 6,044 4,045 5,569 8,943 14,384 19,599 23,454 23,193 19,425 16,135 adjustment 9,586 3,166 -779 - 3 , 0 0 8 164 1, """ 3,065 5,580, 6,076 3,082 0,283 9,091 17,001 20,873 24,278 23,543 10,953, 20,824 Corporate profits before tas 624 848 Corporate profits tax liability 500 l,3f8 382 746 905 1,411 1,512 1,040 1,462 2,878 7,840 11,665 14,153 13,913 11,283 8,001 10,125 9,635 3,675 12,223 4,109 4,563 2,042 4,821 6,213 9.156 2,318 Corporate profits after tax 917 -714 s,m 3,260 -1,279 -3,3T0 - 2-,3 6 0 -625 2,100 1,657 - 3 1 903 I.3S0 -148 -2,617 - 10,208 -824 -355 - 5 3 3 -4,639 2,414 1,047 ,274 -227, -738 143 Inventory valuation adjustment-. 1,224 1,106 1,158 1,463 1,482 949 1,742 1,802 1,759 1,715 1,707 1,024 781 872 N e t interest 318 472, O Soleproprtetoishins and partnerships 1,617 19,544 35,442 10,457 10,175 12,127 15,343 18, S U 19,851 18,050 19,055 SO, 923 26,530 34,601 33,699 40,783 44,102 52,353 7,863 6,475 4,835 4,354 4,984 5,491 6,308 7,138 6,385 7,300 7,803 9,531 11,526 12,446 12,939 13,900 17,384 Compensation of employees 23,214 Wages and salaries 8,701 7,803 0,426 4,795 4,321 4,050 5,454 6,224 6,973 0,628 7,030 7,621 9,239 11,160 12,079 12,662 13,541 16,981 84 282 216 257 270 55 403 342 367 359 49 Supplements to wages and salaries 357 306 34 37 33 40 8,648 Income of unincorporated enterprises and 63 10,922 8.1E0 4,908 5,193 6,589 9,836 12,130 12,207 10,737 11,252 12,623 16,444 22,628 25,802 27,532 30,002 34,753 inventory valuation adjustment 13,881 Business and professional . . . . . . . 8,216 6,991 6,292 3 , " 2,911 4,262 4,965 0,040 6,588 6,316 0,746 7,083 9,506 12,010 13,979 15,162 10,537 19,540 Income of unincorporated enter- 8,074 6,230 4,681 2,898 3,436 4,310 5,015 6,100 6,617 0,095 6,912 7,736 10.150 12,368 14,117 16,211 16,591 20,343 221 -106 - S 2 —644 -352 - 1 3 8 —54 -1,308 —29 611 -59 2B5 -625 - 5 4 - 5 0 142 755 Inventory Valuation" aoQus'cJient"'_ 5,665 3,931 2,8f8 1,715 2,282 2,327 4,871 —120 3,619 4,421 4,506 4,940 6,933 10,012 11,323 12,380 13,465 15,213 6,0fl> d4<V Ten Farm 260 216 312 351 505 456 474 682 503 407, 777 7en 516 -tew 628 £64 714 447 010 464 Net interest i 5,403 6,643 5,823 6,607 7,726 8,696 9,169 9,495 9,696 8,081 7,044 6,352 4,969 4,306 4,318 4,476 4,887 6, Other private business» 332 726 757 785 665 955 1,013 1,269 916 623 568 6031 661 725 729 716 661 875 Compensation of employees 987 1,241 063 930 389 806 757 706 701 730 622 569 713 728 607 602 646 851 wages and salaries 28 20 25 27 19 25 26 28 2 27 1 1 6 24 Supplements to wages and salaries Income of unincorporated enterprises— 19S 168 30 31 158 149 SO 60 37 42 34 22 41 46 24 14 14 13 s business and professional 5,811 4,786 3,620 2,608 2,018 2,095 2,238 2,682 3,140; 3,278 3,465 3,620 4,322 5,371 6.150 6,693 6,952 6,365 Rental income of p e r s o n s - _ . . . - . . „ . . . _ . 2,095 2,102 2,043 1,387 1,750 1,641 1,602 1,520 1,482, 1,428 1,391 1,331 1,393 1,333 1,381 1,363 1,367 1,304 N e t interest . 921 979 1,066 1,106 1,302 1,424 1,519 1,808 T58 771 898 768 778 842 370 693 031 706 Government enterprises 921 979 1,065 1,160 1,362, 1,424 1.619 1,803 870 771 70S 898; 778 842 631 693 705 758 Compensation of employees.-. .. 881 933 1,020 1,119 1,314 1,373 1,461 1,738 754 838 617 079 700 818 757 745 360 691 wages and salaries 45 70 40 61 48 47 41 32 24 14 13 58 14 38 14 ' 18 14 14 Supplements to wages and salaries 7,238 6,925, 7,650 7,629 7,817, 9,414 15.233 26,010 32,042 35,825, 21,211 4,356 4,665 4,679 4,466 4,718 6,602 5. Income originating in general government 4,356 4,605 4,679 4,466 4,718 6,602 6,909 7,238 0,926 7,650 7,620, 7,817 9,414 15,233 25,910 32,942 35,825 21,211 Compensation of employees 4,213 4,410 4,524 4.-295 4,547 6,420 5,763 7,069 0,677 7,387 7,343 7,616 9,146 14,924 25,633 32,242 33,905 19,130 Wages and salaries 269 700 1,830 2,081 372 165 309 248 171 132 206 219 171 149 143 263 286 3M Supplements to wages and salaries Employer contributions for social In 60S 1,663 1,967 320 277 225 176 120 93 139 199 210 98 131 147 159 113 surance. . - ........—..... .. 114 92 43 91 72 167 74 67 64 32 44 87 64, 51 61 68 66 Other labor income Income originating in households and Institutions ' - 4,339 3,491 2,942 2,438, 2,203 2,332 3,431 2,095 2,983 2,835 2,979 3,205 3,401 3,490 3,610 3,988 4,335 4,723 2,719 2,526 2,176 1,794 1.610 1,726 1,1 Compensation of employees., 1,957 2,173 2,007 2,178 2,323 2,413 2,730 3,045 3,446 3,773 4,032 1,943 2,150 2,039 2,150 £295 2,389 2,699 3,012 3,412 3,738 3,991 1,601 1,717 2,710 2,516 2,166, 1,784 Wages and salaries 41 36 23 10 34 33 31 29 28 23 14 9 1,793 9 10 9 Supplements to wages and salaries 28 10 10 Employer contributions lor social in 17 13 9 6 13 13 11 11 0 surance 11 11 10 2 0 0 0 0 24 20 21 17 17 10 22 20 IS IS 12 14 10 9 9 10 10 9 Other labor income.... „.....-..._... 671 691 642 768 801 882 760 662 760 983 965 606 628 738 815 1,626 Net interest ' . . 693 644 367 423 386 313 357 446 307 365 363 746 647 283 303 367 300 323 393 810 Income originating in tberestol the world 14 12 2 1 10 6 3 I S 10 1 1 1 1 1 1 1 I Wages and salaries'. 23S 203 247 184 225 231 234 137 264 -4 310 122 159 104 -2 60 -34 232 Corporate profits after tan • 115 118 138 127 120 130 126 003 123 550 324 122 242 207 195 166 426 Net interests 677 1 3 1 T h e national income is classified by distributive shares in table I, and income originating En business is classified by distributive shares In table 7. D a t a not available. This series is net only of imputed interest received, and of cash Interest received by firms engaged in lending as a principal activity; cash Interest received by other proprietors. ts considered to be received in the proprietor's personal capacity. 1 Includes all mutual financial institutions; producers' and consumers' cooperatives; nonprofit organizations, such as trade associations, furnishing services to business; Individually^ >wnod property including owner-occupied homes; and miscellaneous forms of business organization. * Estimated patronage refunds and Steele dividends paid by farmers' cooperatives. < Includes private households; and religious organizations, social and athletic clubs, labor organisations, nonprofit schools and hospitals, charitable and welfare organizations, and ill otber nonprofit organizations furnishing services to Individuals. 1 This series measures gross interest paid: It Is termed "net interest" only because it is a component of that distributive share. < Fay of permanent United States residents employed in the United States by foreign governments and international organizations. > Measures net Inflow from abroad of dividends and branch profits; the net inflow from abroad of undistributed profits and corporate profits tax liability is excluded from this line ind from the national Income aggregate. 26 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS July 1947 Table 13.—National Income by Industrial Origin, 1929-46 ' [Millions of dollars] All Industries, total . Agriculture, forestry, and fisheries Farms.. Agricultural and similar service establishments--.. Forestry fisheries Mining Metal mining -. Anthracite mining Bituminous and other soft coat mining Crode petroleum and natural gas Nonmetallie mining Contract eons-ruction Manufacturing *.*.** * . . ,*.. *. Food and kindred products Tobacco manufactures Textile-mill products Apparel and otherfinishedfabric products Lumber and timber basic products Furniture andfinishedJumbor products Paper and allied products Printing and publishing . Chemicals and allied products Products of petroleum and coal Rubber products Leather and leather products Stone, clay, and gloss products Iron and steel and their products Nonterrous metals and their products Machinery (exce pt electrical) Electrical machinery*,--**,-,. .. . Transportation equipment except automobiles Automobiles and automobile equipment M Sscellaneous Wholesale and retail trade "Wholesale trade Retail trade and auto, services Finance, insurance, and real estate Banking.** **** ► „ — . ► . — . . . . .--. Security and commodity brokers, dealers and ex changes Finance, n. e- c Insurance carriers Insurance agents and combination offices Real estate Transportation Railroads Local tailwaysand buslines Highway passenger transportation Highway freight transportation Water transportation Air transport (common carriers) Pipeline transportation-—.* .. .... *. Services allied to transportation Communications and public utilities Telephone and telegraph : Radio broadcasting Utilities: eiectricacd gas Local public services, n. e. e Services Hotels and lodging places Persona) services Private households Commercial and trade schools and employment agencies Business services, n, e. c Misc. repair services and hand trades Motion pictures—..-* .-**._—. Amusement and recreation, except motion pic tures Medical end health services LeRal services .* * ....-..-. Engineering and other professional services, n. e. c . Educational services, n. c. c Religious organizations—.— . Nonprofit organizations. n. e. c Government and government enterprises Federal—general government Federal—government enterprises State and local—general government State an d local—government enterprises Rest of the world» **1 1,-89 4,878 1,881 4,467 2,249 2,304 1,247 1,453 32,841 8.972 23.869 14,753 2,070 341 343 1,311 S56 9,333 10,202 5,672 668 712 1,880 833 216 136 .97 4,747 2,010 214 2,426 08 17,020 1,223 2.7B0 2,332 02 1,632 8S2 1,130 656 2,797 1,200 698 642 370 637 23,019 14,862 1,410 6,349 398 230 > National income originating in each industry is the sum of factor costs Incurred by the industry in production. Hence, it islhe net value added to production by the Industry, measured at factor costs. In the business sector of the economy, except Government enterprises, it is equal to the eicess ol theTnarket value of the industry's product and the sub sidies it receives over the sum of the following costs: purchases of goods and services from other enterprises, indirect business tax and nontax liability, business transfer payments, and capital consumption charges. In the Government and personal sectors ofthe economy, which do not produccfor sale, andalso in Government enterprises, this valaa added in pro duction (as measured In the present series) can be described only as factor costs incurred, "National income originating" is a more net concept of value-added than that used by the Bureau of the Census in compiling the Census of Manufactures. "Value added by manufacture" was obtained in the 1039 Census of Manufactures by deducting from the value of products only "the cost of materials, supplies, containers, fuel, purchased electric energy, and contract work," National income by industrial origin Is obtained statistically by aggregating the data presented In tables 14,15,10,17,22, and 23, together with the rental income of persons (shown In table 12 and all classified in the real estate industry). Footnotes to these tables arc, therefore, relevant also to table 13. 'This series dlfleres from income originating in the rest of the world shown in tables 11 and 12 because profits received by domestic corporations from foreign branches are excluded from this line and included in the Industry of the recipient corporation. Data required lor their elimination are not available by industry. July 1947 NATIONAL INCOME SUPPLEMENT TO STJKVEY OF CUHEENT BUSINESS 27 T a b l e 14.—Wages a n d S a l a r i e s , by I n d u s t r y , 192JM6 [Millions of dollars] 1929 1930 All industries, total. Agriculture, forestry, and fisheries Farms Agricultural and similar service establishments Forestry Fisheries. Mining Metal mining Anthracite mining Bituminous and other soft coal Crude petroleum and natural gas Nonmetalllc mining Contract construction Manufacturing Food and Kindred products Tobacco manufactures---..----.--*-..-..-.--.—■ Textile-mP) products Apparel and other finished fabric products Lumber and timber basic products.-*-,*...,... Furniture and finished lumber products Paper and allied products * Printing and publishing Chemicals and allied products Products of petroleum and coal Rubber products.. -* „ Leather and leather products Stone, clay, and glass prodncts Iron and steel and theft- products Nonferrous metals and their products Machinery (except electrical)-Electrical machinery... Transportation equipment except automobiles Automobiles and automobile equipment Miscellaneous Wholesale and retail trade Wholesale trade.Eetail trade and auto, services Finance, insurance, and real estate Banking Security and commodity brokers, dealers and e* changes Finance, n. e. c Insurance carriers insurance agents and combination offices Bea) estate Transportation. * Railroads Local railways and bus lines. Highway passenger transportation. — ■ ■ Highwayrire' " 'transportation freight Water transportation Air transport (common carriers) „ Pipe-line transportation Services allied to transportation Communicaiions and public utilities Telephone and telegraph Rndio broadcasting Utilities: electric and fas Local public services, n . c. c Services Hotels and longing places Personal services. „ Private households Commercial and trade schools and employment agencies . Business services, n . e. c Misc. repair SArvlees and band trades. _*_._—„.,—. Motion pictures.. Amusement and recreation, except motion pictures. Medical and health services Legalsorvi ces Engineering and other professional services, n. a. c . Educational services, n . e, c ... ... ....... Beligious organizations Nonprofit organizations, n. e. e Government and government enterprises Federal—Beneral government Civilian, except work relief i M Hilary > W ork relief—, Federal—government enterprises State and local— eaieial goyemment Public education Nonschool, except work relief. Work relief _ State and local—government enterprises Rest of the world «.._„ Addendum: All private industries 1931 1932 1933 1931 1935 1936 1937 1,410 1,274 884 1,284 1,156 67 71 69 17 21 13 34 42 21 1,515 1,327 993 166 102 £00 252 205 201 506 380 669 293 223 321 110 83 124 2,4S4 2,085 1,477 16,092 13,850 10,810 1,505 1,519 1,320 131 109 .42 1,458 1,209 1,065 913 7S1 1,051 512 306 708 486 384 611 412 351 430 1,236 1,241 1,065 621 520 664 238 190 236 £22 167 381 418 491 363 526 384 618 2,117 1,791 1,208 541 418 323 774 1,396 1,173 713 435 859 £54 262 107 973 633 612 399 321 447 9,293 8,659 7,562 3,127 2,944 2,537 6,169 5,716 5,025 2,796 2,621 2,357 710 619 753 23: 463 4,719 3,226 482 173 327 213 6 43 245 1,620 740 10 739 31 5,371 425 752 1,687 70S 642 626 569 50 58 11 10 13 13 683 636 62 53 132 151 259 279 168 ■ 177 46 52 611 823 7,678 7,827 1,096 1,131 74 85 768 S96 658 669 199 177 251 251 273 279 718 837 413 421 157 149 141 131 291 304 238 227 717 804 206 206 489 494 286 302 93 117 369 363 219 5,897 1 "" 3,917 2,006 565 319 265 234 212 186 £34 698 658 553 20$ 185 229 425 365 283 4,237 3,531 2,656 £,849 2,334 1 452 401 323 162 133 101 816 257 193 168 135 9 14 13 29 42 38 214 157 104 1,543 .1,408 1,191 739 659 550 24 21 15 75S 699 592 25 29 31 6,124 4,480 3,655 407 341 256 727 643 523 1,373 1,060 772 26 218 5,230 1,743 3,637 1,822 486 244 170 498 164 261 2,465 1,660 283 85 252 143 14 20 83 1,059 477 2] 539 23 3,278 £17 456 678 956 1,134 1,097 1, 334 1,108 1,323 9S2 1,090 1,197 749 872 1,022 995 75 79 70 67 61 65 14 II 10 12 13 11 II 23 28 36 24 23 21 10 1,133' 1,365 1,101 1,137 1,287 1.M01 969 138 194 J 27 232 156 190 88 118 135 140 138 136 117 124 542 678 550 437 456 504 424 388 336 363 333 333 315 287 257 240 101 132 76 92 86 77 60 66 1,259 1,546 1,700 2,389 839 1,300 1 759 9,643 10,829 12,410 14,571 11,837 13,685 15,584 21,714 1,325 1,386 1,492 1,652 1,652 1,612 1,694 1,913 98 104 94 115 98 89 84 84 1,006 1,108 1,369 1,255 1,011 1,367 1,206 1,663 938 1,209 S49 864 306 £26 780, 600 625 412 467 373 442 374 300 253 470 377 437 325 391 447 274 600 444 490 622 357 394 456 409 332 991 1,002 1,676 S66 943 1,040 931 809 667 806 I. 525 672 672 621 495 250 295 355 242 244 192 202 174 226 247 336 235 135 182 209 176 336 382 507 375 407 359 351 367 466 514 673 285 329 400 433 404 1,060 1,290 1,659 2,005 1,304 1,789 2,187 3,150 748 523 432 377 467 359 266 318 960 1,111 1,430 2,331 679 822 1,029 1,339 637 569 768 1,165 743 639 409 461 310 531 1,458 145 205 276 224 133 600 823 1,050 1,409 970 787 569 691 401 472 336 344 340 301 264 659 6,107 6,617 7,222 8,162 7,990 8,366 0,010 10,322 2,018 2,190 2,370 2,673 2,664 £,761 2,932 3,492 4,089 4,427 4,352 5,489 bf 326 5,576 6,028 0,830 1,903 1,971 2,143 2,307 2,229 2,28" 2,359 £,493 555 567 681 011 622 607 502 547 767 635 43 12 17 911 68 169 205 250 263 233 190 215 233 17fl 543 £78 " 629 617 186 203 21 178 302, 333 375 428 2,660 2,884 3,237 3,640 1,689 1,831 2,058 2,219 306 323 333 296 304 115 94 89 S21 356 40: 280 195 232 161 153 26 22 17 14 47 34 40 36 139 165 IIS 105 1,139 1,193 1,294 1,438 516 558 625 so; 42 34 27 26 623 675 745 583 26 27 25 24 3,586 3,798 4,172 4,583 287 313 351 270 5£6 576 633 497 846 943 1,100 788 191 174 105 208 222 £06 637 687 664 220 223 224 413 452 481 3,179 3,429 3,635 1,962 2.091 2,207, 313 313 289 115 132 120 393 441 498 174 234 218 43 29 34 45 45 43 337 148 169 1,443 1,469 1,513 632 643 660 46 69 62 740 747 795 29 26 27 4,429 4,614 4,895 353 361 376 690 611 617 947 1,040 1,129 27 25 21 J326 29 403 330 392 300 424 90 75 93 S3 249 aos 311 311 349 332 £30 339 175 190 323 298 221 179 202 231 207 311 333 373 415 447 371 457 333 383 390 116 131 126 133 135 126 118 131 I3£ 124 139 63 37 34 36 75 55 31 55 61 40 73 275 279 288 304 318 294 303 307 298 277 327 319 257 262 250 276 251 247 247 304 319 265 234 229 226 239 275; 267 239 22] 269 232 229 4,058 5,173 5,278 4,086 6,164 6,099 6,623 7,887 7,515 8,247 3,224 3,423 3,325 879 $86 842 1,138 1," 845 1,727 3,513 2,944 948 1,052 612 564 678 547 533 810 1,006 948 315 312 271 306 338 368 370 308 295 270 39S 0 0 356 0 0 611 2,174 1,638 2,110 1,873 764 663 532 473 528 569 672 670 679 598 641 646 3,959 3,368 3,637 3,638 3,453 3,409 3,TM 4,036 3,651 3,733 1,681 4,018 1,563 1,615 1,639 1,552 1,409 1,370 1,433 1,507 1,593 2,270 1,717 1,805 1,918 1,953 1,899 1,659 1,701 1,807 1,970 2,092 8 2,291 4 74 , 48 107 92 341 46 0 10 791 185 184 159 144 176 131 162 177 192 1 202 1 1 2 1 34,564. 1 1 1 45,206 # , 7 2 0 33,607 25,297 23,660 27,420 29,084 33,866. 13,432 37,619 I ^ l f 33 367 107 32 379 104 1942 1943 1944 1945 1946 30,284 28,326 33,520 36, (OS 41,754 45,943 42.8] 2 45,745 49,53761,708 81,081 105,537110,944 117,551 111,113 30,165 45.S94 406 242 69i 193S 1939 1940 1941 318 96 305 255 IS 267 82 239 15 249 72 225 160 305 152 246 731 237 521 4,261 2,615 239 162 613 267 65 50 210 1,631 735 67 849 30 6,309 399 774 1,163 44 437 121 3; 256 530 148 119 341 263 288 10,165 4,958 1,883 1,862 1,213 746 4.3S7 1,710 2,102 1,666 1,923 101 95 22 16 61 42 1,768 1,983 398 270 178 156 918 823 407 354 172 366 4,664 3,916 30,917 46,381 2,234 2,638 146 119 1,923 2,055 1,435 1,711 846 762 ■ 672 734 S16 703 1,093 1,135 1,662 2,026 622 441 655 400 622 533 772 336 14,475 6,488 •1,028 1,311 •3,684 4,162 '1,731 2,367 14,733 9,753 963 H,656 •881 1,140 10,917 11,848 3,712 3,876 7,205 7,972 2,597 2,721 700 660 126 246 70S 287 540, 5,257 3,285 341 243 736 292 a 57 226 1,778 813 72 861 32 6,011 424 392 1,342 87 503 141 410 265 694 150 206 357 267 363 16,043 10.682 3,817 6,235 680 827 4,242 1,806 1,853 2,375 2,387 2 6 262 274 10 6 10V H 51,537 65,628 150 £24 793 274 580 6,546 3,957 421 336 847 471 113 63 333 1,886 920 82 852 32 6,788 495 1,043 1,479 126, 654 205 459 276 693 152 103 394 2,295 2,442 2,094 2,239 113 123 32 26 62 58 2,197 2,170 263 227 196 202 1,052 1,020 615 566 165 161 2,686 2,931 42,913 38,213 2,946 3,109 158 171 2,646 £,113 1,376 1,985 849 874 763 799 879 031 1,307 1,469 2,060 2,074 600 640 645 638 650 701 839 858 6,740 5,789 1,340 1,250 4,180 3,891 2,673 2,383 10,121 6,470 1,053 913 1,153 1,174 13,033 14,711 4,255 4,741 8,778 9,970 2,871 3,155 762 163 223 £40 876 7,626 4,377 464 384 927 743 7,898 219 320 290 027 314 664 4,405 498 424 1,014 836 130 154 79 81 422 437 1,994 2,226 989 1,131 100 116 371 941 34 7,602 577 1.145 1,737 95 655 235 500 315 773 161 191 420 302 s: 8,335 631 1,278 1,916 55 757 236 650 356 853 179 210 439 2,757 2,536 123 34 64 2,377 232 235 1,092 605 213 4,225 36,358 3,673 187 2,666 2,363 1,035 11,042 1,141 1,892 1,962 706 749 362 1,123 14,699 •1,336 13,383 i£,208 '5,608 '1,135 '3,283 19,679 6,134 13,545 3,369 901 272 209 1,087 415 806 8,370 4,766 553 498 1,171 632 214 S7 305 2,324 1,485 133 1,160 46 0,778 77 1,650 1,906 60 939 £64 706 468 1,065 243 240 497 280 340 315 487 439 621 646 26,852 33,015 35,456 20,868 21,133 27,585 28.912 6,005 6.803 6,474 14,478 20,782 22,438 0 50 0 983 1,037 1,104 4,405 4,657 5,083 1,931 2,049 £,256 2,474 £,608 2,827 0 0 O 336 331 357 12 14 10 73,071 83,317 82,035 13,031 5.021 3,010 0 1,345 6,099 2,777 3,322 0 393 8 90,237 ' The industrial detail of the manufacturing Industries m 1942andl946tenot entirely satisfactory. Not all establishments were reclassified promptly when their principal product conned as a result of conversion to war production la I9J2 and reconversion in 1943-46. In particular It appears that payrolls and employment in automobiles and automobile equip ment are overstated in 1942 and understated in 1946, and that pay rolls and employment In transportation equipment except automobiles err in the opposite direction. Other foot noted industries are also affected to an unknown extent. ' I n d u d e s pay of Untied States citizens but not of foreigners employed abroad by the United States Government. 1 Represents cash pay and allowances, including tbe Government's contribution to allowances tor dependents of enlisted personnel, and th« value of food and personal clothing furnished in kind. The joay of personnel stationed abroad Is included, but that of personnel recruited from the territories is excluded. 1 F a y of permanent United States residents employed in the United States by foreign governments and international organizations. NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS 28 July 1947 Table IS.—Supplements t o Wages and Salaries, by Industry, 1929-46 * [MflltoDS of dollars) 1929 Farms . Agricultural and similar service establishments Metal mining... ....... ..... ... B i t u m i n o u s and other soft coal Contract construction ... F o o d and kindred products Tobacco m a n u f a c t u r e s . . . . Textilc-mtH products .. . . .... L u m b e r a n d timber basic products^. Paper and allied products . P r o d u c t s of petroleum a n d coal .. .. ..... Leather s a d leather products Stone, clay, and glass products .. .... ... . ... .. Transportation e q u i p m e n t e i e e p t a u t o m o b i l e s . . - . W h o l e s a l e and retail trade ............. Wholesale trade ... ... R e t a i l trade and auto, services .. F i n a n c e , insarancc, and real e s t a t e . . . . . . . . . . . . . . . . . . ... ... Security a n d c o m m o d i t y brokers, dealers a n d exchanges, F i n a n c e , n . a. c .........—..... .. .. Real e s t a t e . . . . Railroads ..... ..... ........ ............... .. H i g h w a y passenger transportation H i g h w a y freight t r a n s p o r t a t i o a . . . . . . . . . . . . . . . . . . Air transport ( c o m m o n carriers). Pipe-line t r a n s p o r t a t i o n . . . . . . . ....._..._. .. Communications and p u b l i c u t i l i t i e s . . . . . . . U t i l i t i e s : electric a n d gas . ... . .... ........ .... .. . Private h o u s e h o l d s . . . . . . .............. Commercial and trade schools a n d e m p l o y m e n t ... ... M o t i o n pictures.—-. ......... A m u s e m e n t and recreation, except m o t i o n pictures Legal services. ... ........... Engineering and other professional services, n . c. c G o v e r n m e n t and government e n t e r p r i s e s . . . . . . . . . . . Federal—government enterprises .- .. 1931 1032 1933 1934 1936 621 All industries, t o t a l . . . 1030 621 S84 642 505 647 BOB S 4 1 21 4 4 9 6 2 56 138 19 1 7 4 5 6 5 6 5 4 1 22 3 4 9 5 1 67 131 19 0 7 3 5 5 5 ' 6 T 8 2 2 7 27 3 11 0 5 4 1 IS 2 3 7 5 1 52 113 18 0 7 3 3 5 4 5 0 7 2 3 C 21 3 S 5 1 3 3 46 14 32 54 19 2 9 7 2 16 77 50 1 6 6 2 23 2 3 2 0 3 27 15 0 11 1 £3 2 3 2 6 4 I 15 1 2 7 4 1 40 00 17 0 6 3 2 4 4 5 6 7 2 2 5 18 1 7 3 1 1 2 42 13 29 46 IS 1 9 7 2 12 67 51 1 5 6 2 0 0 2 24 15 0 8 1 22 2 3 1 4 3 1 14 1 2 5 6 1 23 87 16 0 7 3 2 4 4 4 6 5 1 1 4 16 1 6 3 1 1 2 37 11 26 37 12 i 6 5 2 11 65 61 0 6 0 1 0 0 2 29 22 0 6 1 10 2 3 4 3 1 16 1 3 6 5 1 . 20 06 17 0 6 3 2 4 5 4 6 5 2 3 5 19 1 6 3 1 2 2 37 11 26 37 12 1 6 5 2 11 83 70 0 4 0 I 0 0 2 29 22 0 6 1 20 2 3 1 4 3 1 16 1 3 6 5 1 31 117 21 0 S 3 3 4 5 5 . 0 3 2 2 5 22 3 9 i I 3 3 45 14 31 44 14 1 3 7 2 12 61 47 1 4 6 1 0 0 2 35 24 0 10 1 22 2 3 1 1 2 2 2 1 1 0 0 3 4 0 163 66 12 93 2 1 2 2 2 1 1 0 0 3 4 0 169 58 12 09 2 1 2 1 2 ] 1 0 0 4 4 0 135 C O 12 112 2 e 8 2 3 9 28 3 11 7 2 3 3 49 16 33 63 23 2 12 7 3 16 82 05 0 0 6 2 0 0 3 27 16 0 10 1 21 2 3 2 1 2 1 2 1 1 0 0 2 4 0 156 65 12 88 1 ■1 3 3 60 IS 35 CO 21 2 11 7 3 16 S3 65 1 6 6 2 0 0 3 27 15 0 11 1 a 0 0 3 4 0 18S 49 12 122 2 1 0 I 3 1 1 0 0 3 4 0 106 49 12 193 2 1 2 1 2 1 1 a 0 4 4 0 224 64 10 112 2 1936 1037 921 1,748 4 3 I 29 3 4 11 9 2 50 241 35 1 18 10 6 8 8 14 11 12 4 0 10 41 6 19 11 4 11 6 98 34 64 66 IT 2 14 14 3 16 100 76 3 5 10 3 0 0 3 48 20 0 18 1 42 5 8 1 6 4 2 62 11 5 23 18 5 80 582 73 3 47 31 17 17 10 35 27 17 8 15 22 06 16 50 29 10 30 14 257 92 105 104 23 7 17 20 7 24 202 147 11 7 10 6 2 2 S 81 43 2 35 1 04 12 19 3 1 6 1 5 3 1 0 0 5 fl 1 243 74 21 145 3 2 12 3 10 8 3 2 2 6 6 6 230 92 29 J 59 3 1938 1939 1940 1941 1942 1943 1944 1045 1646 1,935 2,075 2,100 2,572 3,008 3,565 4,240 5,321 5,650 10 6 4 S3 11 S 38 24 7 207 1,545 167 8 05 107 39 6 i 2 68 9 6 25 23 5 SO 618 86 4 49 37 19 18 22 43 30 21 0 17 23 91 17 47 27 11 30 17 320 118 202 120 26 6 19 33 S 28 198 135 14 8 23 6 2 1 9 99 62 2 44 1 ne 16 23 3 2 10 6 13 9 4 3 2 S 7 6 301 101 35 152 3 7 4 3 66 11 6 24 20 5 103 604 83 4 56 41 20 21 23 44 33 22 10 18 27 103 20 54 32 14 40 10 331 122 209 123 26 6 19 35 8 20 211 145 14 S 24 6 2 1 11 90 62 2 44 1 115 15 21 3 T 4 3 72 12 6 28 21 5 in 758 88 4 54 41 22 22 23 40 33 22 11 18 27 131 23 66 36 23 47 22 340 125 215 128 33 6 17 33 8 30 223 158 12 S 26 6 2 1 10 106 60 2 43 1 114 15 23 3 9 9 7 6 7 6 5 3 3 3 4 4 4 4 3 87 88 S5 80 85 12 13 15 10 13 7 7 9 9 3 3T 39 39 35 34 24 23 20 18 19 5 5 T 6 5 152 148 200 253 173 9S3 1,235 1,662 1,888 1,719 99 154 143 115 92 5 7 6 4 5 76 00 80 79 80 60 93 85 74 51 32 29 34 30 35 28 20 31 31 31 20 41 38 31 23 38 42 37 41 48 63 84 90 97 48 26 03 77 40 22 13 24 15 24 10 23 22 24 23 28 34 39 39 37 35 284 219 172 317 297 36 46 61 4T 31 152 163 148 120 09 139 99 06 53 128 265 414 386 183 59 37 32 55 67 30 45 41 33 2T 45 420 370 373 471 365 156 143 128 135 130 286 251 237 310 230 132 205 177 138 120 05 54 41 3T 35 4 5 6 6 4 17 38 31 20 IS 29 44 32 32 50 7 0 3 9 8 31 37 35 33 33 437 320 260 393 447 235 139 294 337 324 12 12 13 12 11 12 17 18 16 16 33 36 39 35 30 22 17 17 16 7 3 5 7 5 1 1 2 2 1 11 10 14 10 10 152 118 117 171 130 77 72 04 86 104 3 3 4 8 6 41 39 37 57 50 1 1 2 2 1 174 164 134 124 148 23 16 16 18 20 37 23 27 32 34 4 3 3 2 3 2 IT 4 13 0 4 3 2 7 S 7 326 110 37 167 3 2 10 4 12 8 4 2 2 S 8 7 342 131 38 170 3 2 16 4 13 9 4 3 4 S 8 7 314 88 42 181 3 4 16 6 13 10 6 3 7 6 10 7 356 109 43 200 4 0 IS 8 10 9 6 1 6 7 10 0 420 155 44 217 4 4 6 26 22 3 S 21 20 11 11 6 6 2 2 6 0 7 7 10 10 9 9 751 1,838 474 1,589 64 47 241 226 4 i 47 59 89 06 26 28 48 219 40 144 111 97 35 46 695 190 405 230 73 7 44 69 11 42 410 295 15 10 40 12 0 2 18 205 123 9 06 2 203 26 45 4 4 30 8 25 13 7 3 T 8 10 13 2,151. 1,831 65 £!0 5 i Data showing supplements to wages and salaries by type are presented in table 34. Forestry, Fisheries, and the Rest of the World are omitted from table 15 because supplements are estimated at less than $500,000 in all years. jniy 1947 NATIONAL INCOME SUPPLEMENT TO SURVEY O F CURRENT BUSINESS 29 Table 16,—Income of Unincorporated Enterprises, by Industry) 1929-46 ' [Millions or dollars] 1929 1930 1931 ms2 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1045 194S 13,785 10.208 7,603 4,628 5,732 6,657 9,908 12,284 12,278 10,647 11,448 12,712 17,148 23,070 26,036 27,749 30,219 36,259 5,728 6,665 44 2 17 54 3 Anthracite mining .. 2 8 38 3 Contrast construction . 1,008 512 74 Tobacco manufactures. ....:?.. 3 19 Apparel and other finished fabric products 109 34 Furniture end finished lumber products IS 4 89 Chemicals and allied products „ 27 1 Rubber products 0 13 Stone, clay, and glass products 20 23 Nonfcrrous metals and their products 24 27 Electrical machinery .... 3 2 Transportation equipment except automobiles. Automobiles and automobile equipment. 2 Miscellaneous 20 2,614 ■Wholesale and retail trade 362 Wholesale trade 2,252 765 Finance, Insurance, anii real estate 376 Security and commodity brokers, dealers and exchanges. 10 Insurance agents and combination oDlees 273 166 139 1 Highway passenger transportation 37 96 I S - Agricultural and similar service establishments Telephone and telegraph.. s 3 0 Local public services, n, e. c 5 2,957 Services. . 100 Hotels and lodging places 434 8 Com mcrcial and trade schools and employment agencies. 160 164 Misc. repair services and band trades 39 3S Amusement and recreation, except motion pictures 1,146 671 165 Engineering and other professional services, n . o. c 133 3.990 2,964 1,759 3,931 2,893 1,715 37 45 43 1 1 ] 15 6 10 30 10 —3 0 1 1 0 0 -I 2 -3 -2 26 15 -1 —1 —I 1 774 644 212 272 114 11 60 25 40 3 2 3 1 3 4 27 - 5 -27 —1 4 17 6 1 0 0 1 a 30 63 9 31 13 17 0 0 9 -2 -1 —1 2 —2 —1 -3 2 10 4 13 0 S ? -1 '3, -4 2 2 0 1 1 0 0 1 0 1 —1 6 10 482 1,776 1,145 251 157 64 983 418 1,525 4GB 322 252 106 5 -21 11 11 9 265 241 214 S3 8ft 50 114 132 97 1 1 1 19 26 35 91 74 S3 1 1 1 2 3 4 5 5 8 2 2 3 0 0 0 3 3 5 2.75S 2,408 1.703 70 31 - 1 3 398 330 249 6 7 3 164 123 94 157 142 113 9 19 36 20 31 8 694 924 1,075 557 674 470 84 126 144 87 129 115 2.322 2,365 4,913 6,135 2,282 2,327 4,871 6,090 27 32 35 32 1 1 1 1 12 11 10 7 53 35 31 11 4 3 2 1 0 1 1 0 3 7 2 -1 39 26 28 11 1 I 0 a 272 336 543 17] 226 279 374 187 82 02, 66 53 1 1 1 1 14 10 8 11 69 44 48 45 22 14 9 7 15 9 6 4 4 3 a 2 53 44 32 23 18 14 16 13 1 0 0 0 1 0 0 0 3 9 6 S 13 7 5 2 7 16 11 4 14 10 8 5 20 12 8 2 3 2 1 0 1 0 0 .0 3 2 1 1 16 15 10 6 1,006 1,500 1,867 2,387 135 207 271 366 371 1,302 1,596 2,021 307i $61 399 S45 105 67 43 103 11 9 8 8 191 207 218 216 67 67 49 43 104 93 130 118 1 1 1 1 21 19 20 16 St 93 103 73 2 2 1 1 3 2 2 2 3 0 0 0 1 0 0 0 1 0 0 0 1 0 0 0 1.697 1,844 2.004 £261 34 13 -29 -7 27S 317 206 6 4 3 241 3! 132 150 86 117 109 116 93 100 13 2 23 10 25 9 34 21 706: 868 633 447 713 506 525 433 78 % 117 89 70 70 73 69 5.681 5,619 47 2 13 71 6 1 11 50 3 620 339 66 1 11 45 29 15 4 47 18 1 0 6 12 20 16 25 3 1 3 17 2,659 412 2,247 426 S3 14 250 79 140 1 24 109 3 3 4 1 1 2 2,438 51 389 6 167 125 24 45 892 649 122 78 4,477 4,421 42 1 13 48 4 0 3 39 2 647 253 71 1 6 39 10 12 2 33 14 1 0 4 6 9 6 13 2 I 2 12 2,388 362 2,626 377 49 14 240 74 139 1 24 108 3 3 6 2 1 2 2,313 38 334 4 160 133 21 35 863 631 120 76 4,662 4,501! 42 1 13 69 6 1 8 41 3 578 37S 101 1 12 60 27 17 4 46 14 I 1 8 11 17 17 19 3 1 2 16 2,390 431 2,459 399 60 15 244 80 151 1 25 113 4 3 6 2 1 3 2,425 46 348 6 163 134 22 41 904 653 135 74 6,005 4,940 49 1 16 71 8 1 14 45 3 714 459 106 2 14 6S 39 20 5 55 16 1 1 8 14 24 24 32, 5 3 3 19 3,311 491 2,820 377 17 16 256 83 171 I 26 136 4 4 7 2 I 4 2,597 56 397 6 175 133 22 44 951 673 161 76 7,026 10,713 11,929 12,504 13,586 16,342 6,938 10,612 11,823 12,380 13,466 15,213 63 71 72 81 88 85 1 1 2 2 1 24 29 34 38 33 96 107 137 153 155 10 11 5 6 7 5 2 2 2 2 2 24 34 35 31 16 36 65 62 116 106 93 5 4 4 4 4 1,142 1.727 1,260 065 986 1,392 751 1,091 I,3S6 1,636 1,698 1,906 357 239 33S 405 445 548 3 2 5 5 4 48 62 56 63 23 132 223 269 313 342 443 S3 65 92 90 90 33 32 35 34 34 38 10 9 16 14 13 68 65 123 180 98 81 25 21 29 29 29 2 I 4 4 3 4 3 9 9 7 26 41 35 16 33 22 23 14 17 20 74 84 93 46 88 47 40 72 66 70 68 107 141 141 59 128 127 12 9 IS 21 18 17 16 7 17 25 24 5 5 5 9 8 8 8 45 33 68 66 65 75 4,412 5,037 6,333 7,126 8,035 10,684 661 773 957 1,094 1,267 1 738 3,751 4,264 5,366 6,032 6,763 3,946 434 407 543 5S1 660 773 21 143 140 109 120 12 16 IS 12 12 16 283 295 332 354 410 279 141 207 128 109 116 105 283 333 356 380 416 242 2 2 2 2 1 44 64 63 60 65 30 273 205 330 230 255 201 7 8 0 8 7 6 10 11 11 9 6 5 24 12 0 20 16 15 4 3 7 5 6 1 2 2 1 I 2 7 5 11 9 9 13 3,063 3,667 4,153 4,512 4,815 5,566 102 168 192 214 235 69 543 681 490 742 833 930 15 8 10 17 22 11 200 235 207 303 373 460 342 405 252 464 667 439 39 76 67 16 54 26 53 55 85 105 75 65 1,053 1,224 1,335 1,476 1,526 1,724 735 786 834 862 95S 615 211 298 288 288 362 346 81 84 99 109 89 83 i "Income of unincorporated enterprise;" measures the net income of sole proprietorships and partnerships, except that tbe series tor wholesale trade includes estimated patronage refunds and stock dividends paid by farmers' cooperatives (shown separately m table 12). "Income of unincorporated enterprises"excludes tbe Inventory valuation adjustment which is shown by industries in table 22b. Industries for which income of unincorporated enterprises is estimated at zero in alt years are omitted from table 16. * This series is obtained by deducting production expenses (including home-ownership expenses) from the gross value of production. Gross value of production is tbe sum of (1) cash receipts from farm marketings; (2) Government payments to farmers; (3) the value (at farm prices) of home consumption of farm products; (4) the gross rental value of farm homes; and (5) tbe value of tbe change In farm inventories of crops and livestock. Estimates were supplied by the Department of Agriculture. This series differs in definition from the Department of Agriculture's "realized net income of farm operators" by Inclusion of the value of the change in all farm inventories; it differs from the former Commerce Depart ment series by Inclusion of not rental value of owner-occupied farm dwelltnss,net farm rent aocrntng to landlords living on farms, and the value of the change in inventories of crops not held for sale. NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS 30 July 1947 Table 17.—Corporate Profits Before Federal and State Income and Excess Profits Taxes, by Industry, 1929-46 ' a {.Millions of dollars] 1929 All Industries, t o t a l . . . . . . . . Agriculture, forestry, a n d Fisheries— . . . . 0,818 3,303 - 7 8 3 - 3 , 0 4 2 .......... fisheries . . .. . ....... M e t a l mining . „ .. P o o d a n d kindred products Apparel e n d other finished fabrics products .- - Furniture and finished Lumber products Leather a n d leather products * Iron a n d steel and their products ......... M a c h i n e r y (except electrical) ....... ...... . Transportation e q u i p m e n t except automobiles Wholesale and retail t r a d e . .... . Retail trade and a u t o services. — Security and c o m m o d i t y brokers, dealers a n d exchanges. Insurance agents a n d combination o f f i c e s . . . . Railroads... _ . Local railways a n d b u s l i n e s .. ... ... .. H i g h w a y freight transportation ...... . Air transport (common carriers) Communications and public utilities Telephone and telegraph . R a d i o broadcasting Utilities: electric a n d gas ... 1933 1932 1931 1930 .. H o t e l s and lodging places Commercia 1 an d trade schools a n d e m p l o y m e n t agencies A m u s e m e n t and recreation, except m o t i o n pictures -35 -33 -1 -I 125 47 14 -12 35 41 93 1,704 374 155 -203 -33 -20 -37 51 150 234 255 -51 -20 56 225 62 185 89 22 162 18 -17 -35 18 190 400 -140 -168 03 2t -16 433 297 65 —B 20 17 -19 68 4 715 206 —0 430 19 83 -18 10 6 38 3 62 -8 3 65< 20 16 I 3 466 262 12 14 122 66 121 5,038 492 142 155 4! 83 41 111 246 430 074 17 49 148 817 220 512 208 62 472 112 776 810 457 1,200 669 147 34 200 00 84 1,050 S24 66 0 35 SI -6 87 6 925 313 26 565 27 151 1 22 10 49 4 62 3 -69 -68 -62 -63 -3 -2 -4 -3 -89 -122 -50 -34 -12 S -28 -34 16 -75 7, -9 -88 1 - 2 7 4 —1,291 206 89 166 169 -178 -101 -74 -60, -106 -101 -77 -00 -56 -0 -10 09 98 138 -123 3 -34 -20 -35 -28 -25 -84 -222 -381 —57 -16 -66 -203 15 -40 -30 -31 41 - 1 6 2 -79 -33 -726, -416 -176 —243 -240 -463 -661 -303 -0 12S -60 -HO -238 -221 46 23 19 17 -394 -165 -96 -330 -329 -147 10 15 -18 -8 -4 11 -16 -1 -0 -2 30 4i -2 2 587 451 157 239 -2 -4 295 350 1 2 -183 -36 -43 -29 -18 0 -0 -2 -3 12 -I 0 -83 2 -29 -10 -56 -66l 1934 1935 1036 1937 1938 1939 1940 1941 1942 1943 1944 1946 1946 102 1,723 3,224 5.684 6,197 3.329 6.467 9,325 17,232 21.093 24,516 23,841 20,222 21,140 -28 -29 -23 -26 —2 -1 -3 -2 179 -12 £6 17 0 -7 12 -29 103 9 9 -2 -27 -51 840 1,388 307 841 112 65 33 157 14 17 -20 -25 -7 -18 69 32 75 39 289 294 -6 -40 5 7 25 30 37 -3 29 -108 114 54 111 -34 -1! -14 -8 -22 99 64 47 -2 409 85 217 94 192 -9 -672 -575 -1 -58 -8 -38 -243 -294 110 65 10 13 -411 - 3 9 8 -24t -102 -275 -255 -5 8 5 -4 12 i 10 4 -0 -2 69 24 2 0 658 333 143 132 7 -0 387 251 16 6 -17, -109 -30 -33 0 —6 0 -5 IS -1 1 —1 3 -40 -a -23 -21 -32 16 IS -1 -1 195 S4 -10 5 99 171 n 2,234 406 112 78 21 6 8 76 115 305 75 22 40 OS 148 144 201 64 -7 255 91 544 257 287 -299 148 -68 -210 129 15 -313 -36 -174 -36 11 13 29 -2 70 2 509 177 12 306 14 7 -20 4 0, IS 1 14 -4 23 28 01 0 322 140 -4 9 M5 32 27 3,606 519 128 180 46 42 30 106 147 397 220 40 40 149 346 190 357 135 22 387 105 912 427 4S5 22 244 -46 —164 134 16 -102 93 -34 -12 18 16 38 0 05 2 661 195 17 436 13 45 -22 7 2 25 2 30 1 -32 14 16 -1 -1 469 245 -13 12 188 87 42 3,711 345 126 102 16 67 32 126 132 391 337 29 22 145 479 109 465 170 62 372 104 815 300 455 251 338 -55 -113 106 17 —101 57 -62 -36 17 14 46 —2 79 1 785 207 19 543 16 66 -18 11 3 29 2, 34 5 -13 146 133 121 114 63 84 24 0 -7 112 145 132 120 83 62 26 -0 10 - 0 6 0 0 0 0 -I -I _a 1 1 1 2 1 1 0 0 0 519 564 475 627 616 622 219 318 442 104 148 131 101 302 273 182 117 236 27 22 16 15 17 15 -18 -12 7 122 117, 130 136 102 75 9 -17 37 194 175 127 250 140 198 106 120 124 61 48 44 54 63 61 17 33 38 296 146 124 235 188 311 32 23 70 1,601 3,712 6,601 11,140 12,695 14,309 13,741 10.044 10,858 861 1,244 1,513 1,524 1,407 1,748 360 543 559 199 189 ■ 170 1S3 173 186 130 152 774 1,435 805 S31 863 618 172 -16 216 305 229 263 266 216 135 39 4 47 284 175 202 138, 188 213 43 7 95 102 126 170 138 142 150 12 51 71 612 357 419 398 379 398 111 48 197 549 590 005 465 239 190 126 80 154 519 300 050 1,041 1,080 1,191 1,210 1,133 1,496 763 587 726 590 914 097 228 100 321 337 335 303 291 131 155 62 10 62 154 144 140 167 106 140 40 41 8 347 359 206 238 289 345 204 153 66 647 1,672 2,108 2,122 1,810 1,204 1,240 14 318 300 237 424 481 372 394 226 154 43 670 967 08S 1,443 1,650 1,481 1,331 327 200 4S 603 882 843 720 342 32 708 186 12 702 1,336 1,911 1,921 1,051 273 70 21 77 164 302 330 340 692 540 65 330 167 239 309 321 267 235 117 92 63 833 1,116 2,179 2,624 3,132 3,361 3,527 4,622 401 358 142 492 1,023 1,111 1,250 1,323 1,388 1,858 624 1,151 1,513 1,873 2,038 2,139 2,704 250 480 487 871 1,138 1,386 1,435 1,637 671 340 295 947 1,143 C99 622 641 433 339 291 90S -39 -45 —7 -23 -13 -23 -31 -41 -48 54 54 54 49 99 -35 -10 -102 -108 190 190 100 ISl 132 67 9S 167 183 27 27 27 24 29 34 25 18 17 17 230 230 230 203 103 -35 -46 120 740 910 2,002 2,864 2,435 1,715 332 100 -178 282 517 1,691 2,272 1,843 3,230 80 -12 -254 -22 57 66 74 70 42 -18 -44 -57 123 171 204 144 48 30 211 15 8 59 67 51 29 52 24 63 45 29 157 100 131 02 94 90 90 50 17 -6 38 41 33 33 29 12 8 -1 52 47 61 00 68 93 S3 86 73 44 47 59 53 6] 42 30 12 7 870 1,012 1,171 1,376 1,519 1,471 1,406 1,411 728 259 300 618 500 478 416 285 257 205 71 66 71 52 31 35 28 15 20 859 877 96G 904 832 703 494 950 678 17 24 23 23 23 19 19 16 14 537 643 337 104 74 47 189 001 757 149 109 96 34 -0 2 -27 125 -10 57 77 63 49 38 23 13 0 3 17 26 32 29 8 5 2 0 18 69 32 103 89 76 61 53 34 28 19 16 15 14 11 7 2 1 1 239 255 79 52 40 316 261 166 42 70 32 43 34 IS 17 9 5 2 109 80 96 130 93 99 137 114 196 44 A dcscrtpttonoMhc Department of Commerce scries forcorporate profits. taxes, dividends, undistributed profits, and sales Is contained in: "Trend or Corporate Profits, 1929-45," SURVEY OF CmtiiENT EASINESS, April 1940. A reconciliation of corporate proSts with "compiled net profit" as published annually by the Bureau ol Internal Kevonue In Statistics of Income is presented in table 33, Special attention should be directed to tbe following characteristics of the estimates ol corporate profits before tax {table 17), taxes (tabic 18), profits after tax (table 19), and undis tributed profits (table 21) during recent years. These characteristics are described only In terras ofprofits before tax and taxes, but tboy affect also profits after tax and undistributed profltsslnce these are obtained as residuals, (l) Originally-reported profits before tax have been reduced to the extent that the^ were overstated by amounts subsequently recaptured by the government by reneeotiation of war contracts. Taxes have also been reduced to take account of the reduced tax liability arising from renegotiation. (2) By shortening the emergency amortization period for war facilities to less than thefive-yearspan initlallyused, the Presidential Proclamation signed Soptember29,1945, permitted corporations to deduct additional amortisation in the years 1941 to 1945 In the computation of profits for tax purposes. Our estimates of profits and taxes correspond to tax taw in that amortization has been recomputed for 1941 to 1945, thus reducing profits and taxes in these years. In contrast, most corporation reports to stockholders charged the entire amount of additional amortization charges against 1945 profits. (3) Corporate income and excess profits taxes were reduced from the amount reported on original tax returns lor 1943,1944, and 1945, by estimated amounts of tax credits arising in 1944,1945, and 1940 from carry-backs of unused excess profits tax credits and net operating losses. (4) No adjustments have yet been made to take account of tax rebates which may arise from changes in the excess profits tax credit under section 722 (dealing with claims that profits in the 1936-39 base period were abnormally tow) of tha Internal Revenue Code. Also, no allowances have been made for the possible effects of reopening renegotiation cases as a result of the reduction In wartime profits caused by tbe Tecom potation of cmerconcv amortization charges discussed above. Corporate profits, tax, dividends and sales data are derived, with certain adjustments, from corporation Income tax returns (oxcept for the years 1945 and 1946, for which the esti mates aro pro) Iminnry). During the period 1934 to 1941 each single corporation, with certain exceptions, wasrequlred to flleasoparatereturn. These were classified industrially on tha basis of tile principal activity of tho corporation. From 1929 to 1933 and from 1942 to date tbefilingof consolidated returns for affiliated corporations was generally permissible upon payment of a small additional tax. The consolidated group of affiliated corporations was then classified according to tho principal activity of the group, rbus discontinuities in the industrial detail of the data occur between 1933 and 1934 and between 194! and 1942. > Industries in which there are no corporations organised for profit, or in which corporate profits before tax are estimated at less than $500,000 in all years, arc omitted from this table. 1 This series differs from profits in tho Rest of the Worldshown in table 12, and thesum of branch profits and net dtvidondsshownm table 11, because profits received by domestic corporations from foreign branches aro excluded from this line and included In tbe industry of the recipient corporation, Data for their elimination are not available by Industry, 1 Table 18.—Federal and State Corporate Income and Excess Profits Tax Liability, by. Industry, 1929-46 * 3 [Millions of dollars] 1929 AH Industries, t o t a l . . ...... . . . . . . . . . . . . . . 1,398 Agriculture, forestry, a n d E s b o i i e a . . . . . . . . „ „ . . . . . , . . . . . . „ Fisheries . Bee footnote!! at end of table. 7 6 1 0 1030 1032 1931 1933 1934 848 500 332 624 746 4 4 0 f> t 1 0 0 1 1 i 2 0 0 5 6 0 0 0 1935 1930 1937 193S 1939 1940 1S41 1942 1943 1944 194S 1916 965 1,411 1,612 1,046 1,462 2.873 7,846 11,605 14,153 13,913 11,283 & 601 8 8 0 0 10 0 9 ! 0 5 1 0 0 7 7 0 0 111 25 a ll i 1 10 23 43 41 1 1 67 61 1 67 64 1 2 74 72 1 1 68 65 1 E July 1947 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CTJBRENT BUSINESS 31 T a b l e 18.-—Federal a n d S t a t e Corporate I n c o m e a n d Excess Profits T a x Liability, b y I n d u s t r y , 1929-46 ' *—Continued [Millions of dollarsj 2929 Crude petroleum and natural gas Tobacco manufactures Tcittilc-mill products . Apparel and other finished fabric p r o d u c t s . . . . . . . L u m b e r and timber basic products Chemicals a n d allied products Products of petroleum a n d coal .. .- --.-.- Leather and leather products Nonferrous m e t a l s and their p r o d u c t s . . Machinery (except electrical) Electrical machinery ......... „ Automobiles a n d automobile e q u i p m e n t Wholesale t r a d e . . . Retail trade a n d auto, services Finance, insurance, and rca] estate ..... ...... Security and c o m m o d i t y brokers, dealers a n d exchanges. Insurance agents a n d combination offices .. Local railways a n d b u s l i n e s H i g h w a y freight transportation Water transportation Communications and public utilities Telephone a n d tolograph Hotels and lodging p l a c e s . . . Commercial a n d trado schools and e m p l o y m e n t agencies. Business services, n, e. c . Misc. repair services and h a n d trades Motion pictures A m u s e m e n t a n d recreation, except m o t i o n pictures 1030 60 24 2 5 12 7 19 635 04 IS 32 8 9 S 16 34 54 60 7 10 21 98 26 64 30 9 48 19 125 62 73 233 66 42 67 31» 5 64 137 107 4 2 4 7 0 9 4 113 38 2 70 3 29 2 2 3 9 1 10 2 1032 1931 24 4 2 3 19 5 18 377 59 21 11 3 3 2 11 24 42 33 3 5 13 39 12 30 16 6 37 12 75 29 46 149 34 9 24 29 4 49 74 53 4 1 3 5 0 6 2 104 35 0 66 3 23 1 2 2 7 1 9 1 8 1 1 2 1 3 9 206 46 22 7 2 0 2 5 17 31 3 4 6 5 6 13 3 1 30 8 67 17 40 81 11 3 9 32 3 34 30 18 4 1 3 4 0 5 2 91 31 I 57 2 11 1 1 1 3 0 4 I S 1 0 1 4 2 4 132 33 26 5 2 0 I 3 11 23 s 3 2 3 5 5 1 1 -2 4 41 15 26 60, 4 2 8 21 3 28 27 12 4 1 2 2 1 3 2 94 23 1 63 2 9 1 1 1 3 9 2 1 3933 11 3 1 1 4 2 4 257 60 12 31 6 I 3 19 13 37 11 3 9 6 7 10 11 2 1 19 6 77 33 44 56 3 5 10 12 2 24 38 13 3 21 2 3 0 \ SO 23 0 65 2 9 0 1 1 3 0 3 I 1934 25 7 1 4 10 3 5 332 71 17 20 0 3 3 15 21 47 9 2 T 11 IS 20 26 4 2 19 12 tis 50 50 95 5 3 28 22 3 34 .50 20 3 3 3 7 0 11 3 101 26 1 71 3 IS 1 1 1 6 0 4 2 1935 27 10 9 4 10 3 9 492 120 18 £5 7 3 4 17 26 53 U 5 9 17 34 24 38 13 2 47 19 137 04 73 123, 9 7 44 23 3 37 62 22 1 4 3 8 " , 11 3 100 29 3 66 3 17 1 1 2 6 0 5 2 1936 43 17 1 4 15 C 13 721 105 32 44 10 7 10 24 34 77 27 10 9 30 72 35 73 27 7 74 24 207 97 119 193 19 11 93 23 3 44 72 35 3 51 3 10 0 13 3 125 37 4 81 3 37 1 1 3 8 1 10 3 1937 65 36 0 4 19 6 10 77J 82 23 33 6 10 8 28 33 70 42 0 6 31 103 41 101 34 15 73 24 200 87 113 191 14 2 97 25 3 60 77 37 1 51 3 13 1 14 3 150 41 4 102 3 39 1 2 3 9 1 10 3 1938 30 17 0 ; 13 4 13 454 90 25 16 6 4 7 14 24 63 18 5 5 17 28 73 46 19 9 31 14 139 52 87 154 16 2 65 30 4 37 60 22 1 5 5 8 1 13 5 150 45 3 99 3 29 2 3 2 8 0 11 3 1939 4G 33 0 4 13 e 14 764 113 26 41 11 7 12 24 30 103 24 12 0 31 69 30, 06 37 20 70 19 197 82 115 148 18 2 60 26 4 38 90 39 0 7 7 12 2 17 0 374 54 4 113 3 32 3 3 2 9 0 12 3 1940 1941 1942 1943 1944 1945 1946 157 130 356 174 211 168 78 27 22 38 56 no 77 43 0 3 5 4 4 1 2 40 29 51 52 30 21 S 60 53 39 36 2S 36 17 24 24 23 26 33 9 22 102 118 87 165 193 91 20 J, 761 5,427 7,486 8,704 8,368 6,091 4,520 722 840 942 863 649 334 151 78 70 86 93 93 70 40 591 497 522 537 536 65 273 153 137 166 155 125 15 55 192 68 85 101 110 79 22 68 70 100 81 89 2t C5 216 262 269 244 214 60 189 219 366 371 271 125 76 46 669 616 715 703 612 514 207 203 163 207 295 222 152 56 142 350 216 205 S5 70 16 63 S3 87 94 79 11 30 143 120 140 183 213 63 175 502 671 20S 884 1,352 1,355 1,118 139 JOS 237 279 227 78. 208 250 617 872 997 240 774 1,976 69 381 535 566 4C3 IIS 407 56 037 857 1,243 3,242 106 472 111 99 196 194 210 199 482 143 80 206 210 158 112 30 1 944 1,464 l . c " 2L024 2,125 1,395 331 762 836 800 031 143 461 333 3,08]' 1,234 1,289 1,133 483 188 624 CO O 595 484 413 211 341 214 264 215 126 64 26 57 16 13 9 0 4 i 3 81 86 86 83 118 OS 157 120 130 128 123 23 105 28 12 10 12 12 7 16 12 134 146 131 63 145 108 S4 361 153 99S 997 1,620 1,481 340 64 161 727 709 1,274 1,141 154 26 32 30 36 17 I 3 52 111 137 91 140 21 23 IS 34 37 26 19 9 51 58 51 58 73 34 32 1 IS 19 10 15 10 4 21 15 27 26 36 23 33 20 19 32 37 9 39 IS 655 805 800 264 780 669 438 327 144 08 309 251 231 112 20 42 31 17 46 9 15 373 425 434 458 413 182 304 11 9 11 10 8 5 7 303 352 335 43 134 320 82 60 57 52 48 23 4 8 31 29 37 35 17 9 5 7 10 24 17 30 6 3 45 52 36 42 26 12 30 8 7 10 9 7 3 0 120 150 156 156 79 14 26 32 39 32 23 12 10 5 i See tabic 17, footnote l. * Industries in wbioh there are no corporations organliod for profit, or in which Federal and State income and oxeoss profits tax liability is estimated at less than $509,000 in all years, are omitted from this table. T a b l e 19.—Corporate Profits after Federal a n d S t a t e I n c o m e a n d Excess Profits T a x e s , by I n d u s t r y , 1929-46 l! [Millions of dollars] 1020 1930 1931 1932 8,420 2,455 —1,283 - 3 , 4 2 4 A g r i c u l t u r e forestry, and fisheries „ Apparel a n d other finished fabric p r o d u c t s . _ Furniture a n d finished lumbor products N o n ferrous m e t a l s a n d t h d r products See footnotes at end of table. w 13 —39 10 - 3 7 —1 0 —1 3 101 416 43 238 12 10 -15 9 25 110 30 49 75 102 4,403 1.327 428 315 124 134 123 - 2 1 4 34 - 3 6 „ 79 - 3 2 33 - 3 9 ,*-*-_* 96 40 212 126 242 370 222 614 10 - 5 3 39 - 2 5 ' 42 127 136 719 40 194 1933 -362 !93<S 1935 1936 1937 1038 1039 1940 1941 1942 1943 1044 1945 1946 977 2.259 4,273 4,635 3,289 5,005 6,447 9,386 9,433 10,363 9,928 8,939 12,539 78 59 41 54 5 -12 47 38 2 13 -33 8 IS -31 -69 -70 80 56 00 39 42 16 - U -23 -2t -63 10 -64 3 48 -1 -1 -1 —2 -3 -1 -1 -2 —1 -2 —1 -1 —1 -1 —4 -1 -1 0 0 -1 0 -3 -3 9 —1 -i 0 0 0 407 404 363 495 183 154 -97 339 364 -23 404 168 -130 279 272 353 77 192 100 —51 79 209 14 110 196 193 43 -35 74 123 159 125 21 -18 —12 12 -13 17 13 13 6 -1 -8 7 -5 -10 -12 12 82 88 70 54 66 29 8 -35 6 8 -19 -30 1 5 -30 34 107 136 12 190 109 136 162 99 107 93 130 6 93 89 -76 104 13 24 37 31 21 3! 35 29 0 . 14 26 -4 -11 27 4 28 44 178 37 113 44 -32 14 —92 - 5 5 26 IS -3 70 -9 583 1,056 1,742 2,885 2,936 1,147 2,058 3,840 6,713 5,209 5,605 5,373 4,553 6,333 - 4 8 0 —1,423 567 1,020 263 583 547 595 430 336 414 331 66 620 236 160 403 270 83 112 84 103 95 14ft 9t 94 103 137 lit 112 105 95 106 53 277 844 345 327 69 - 3 2 294 283 131 151 13 53 146 136 -163 —183 242 92 101 97 91 32 14 11 -02 -76 28 10 SO -2 8 36 70 182 87 103 -26 -106 57 90 123 36 73 -22 3 36 -101 3 56 94 62 —78 - 3 1 24 57 70 26 4 -62 50 85 39 5 -10 142 360 154 156 22 -11 -59 98 150 209 87 137 34 54 69 81 224 194 114 -27 330 234 114, 96 108 113 99, 20 54 89 52, 56 517 837 488 527 46S 443 315 257 333 252 157 75 501 410 237 320 484 550 438 475 -3 395 619 51S 264 265, 82 193 -61 -18 64 -129 85 195 90 -34 23 86 87 86 46 6 3 17 -23 50 36 M CI 91 63 63 61 29 18 -33 -38 64 16 32 31 30 37 3 86 204 IOC 92 132 141 20 -31 -86 134 114 137 119 -12 61 49 533 It -384 -115 738 788 -327 767 692 750 249 430 274 114 376 - 1 4 227 129 94 ISO 302 187 145 T24 44 -22 -63 158 148 155 35 120 IS -! NATIONAL INCOME. SUPPLEMENT TO SURVEY OF CURRENT BUSINESS 32 j u iy 1947 T a b l e 19.—Corporate Profits after Federal a n d S t a t e I n c o m e a n d Excess Profits T a x e s , b y I n d u s t r y , 1929-46 ' *—Continued [Millions or dollars] Manufacturing—Continued M a c h i n e r y (except electrical) ._.._„... Transportation e q u i p m e n t except automobiles Wholesale t r a d e — Finance, insurance, a n d real estate . „.. Security a n d c o m m o d i t y brokers, dealers, a n d ex- Tjisumnce agents a n d combination offices... Heal estate Railroads ._ .. . Hlfihway freight transportation Services allied to transportation . Services Commercial and trade schools and e m p l o y m e n t a e e n Bustncss services, n. e. c A m u s e m e n t and recreation, except m o t i o n pictures R e s t of the world * ...... 1 1934 1035 1036 1931 1932 149 73 16 135 0 -93 -04 -23 50 375 -70 12 -32 21 -41 -473 -193 -280 -381 117 163 284 85 -45 -313 61 108 —19 -16 -41 -9 15 —31 - 2 3 -10 313 £08 SO 45 -190 81 72 35 -8 -S3 —707 8 291 407 705 330 393 158 61 -258 375 214 133 -63 -509 - 7 2 7 - 7 2 8 - 6 7 0 - 4 2 3 -171 225 139 -6 -01 -13 105 - 1 4 9 -33 -192 107 04 17 25 20 - 0 5 369 919 717 244 51 52 -2 -10 17 31 12 44 -19 -6 02 78 3 5 611 812 231 275 -r> IS 370 495 10 34 122 oo -1 -19 s 20 -112 —230 £4 10 -199 -132 -105 11 -9 9 -5 -9 30 0 490 208 —5 293 0 -47 -30 -1 -02 —240 2 14 -422 -357 -341 0 -19 4 31 2 43 -9 3 -3 9 0 -2 -20 -50 1929 448 178 53 424 93 051 207 334 917 633 7 40 3 52 I 05 1930 1933 354 136 47 299 so 015 273 343 00 324 154 63 12 34 39 262 90 172 141 275 1939 261 148 56 260 73 041 276 365 192 331 1940 1941 1042 1943 -T7 -3 37 -4 357 120 -3 232 —1 —102 —44 -19 -11 -322 38 13 —432 -212 -275 -8 2 9 9 —0 ,58 —1 457 122 0 316 13 —32 -31 —1 -7 -6 —1 -85 -30 —SO -0 -4 -1 -43 —34 -32 —1 12 -2 12 —1 -11 -2 0 -0 44 -1 17 1 20 -3 -32 a 20 1 24 2 -13 -2 20 1 29 -1 105 0 25 1 30 2 114 1944 1946 484 459 350 674 069 443 277 307 222 245 313 224 668 079 414 479 320 167 136 106 05 130 410 341 111 103 96 99 123 78 785 1,335 1,100 1,293 1,337 1,403 501 523 552 480 507 349 792 314 850 630 008 436 051 791 83S 458 330 270 673 093 73.1 468 484 412 -32 -33 -42 -49 -43 -50 -57 -76 -57 —254 - 2 5 7 - 2 1 0 —107 - 1 0 8 —144 - 1 9 2 - t o —34 IS 200 39 75 im Ml 140 HI 27 12 22 18 T4 13 14 12 13 13 77 -30 10 -73 -83 - 3 5 0 -206 -151 12 570 1,095 1,344 179 70 -138 21 - 2 0 —238 098 10 -190 —<10 - 0 9 - 2 7 0 303 -51 882 40 -£! -23 -44 -37 -30 -IS -58 25 71 21 12 7 27 13 8 3 53 26 32 20 38 n 10 13 24 31 33 50 33 21 28 75 9 38 33 17 —3 -2 to 3 G -2 0 IS 33 60 00 G9 60 65 59 £2 32 21 24 31 2 -2 -1 —1 21 0 739 733 035 400 536 701 743 096 578 173 106 197 185 191 203 100 148 1.58 14 21 20 1G 12 10 13 10 15 491 528 3.55 503 520 405 395 441 300 11 12 12 12 11 13 11 10 13 153 107 01 42 -10 228 18 37 IS -6 -27 11 -13 -22 -29 -10 -23 47 31 14 9 3 24 3 0 0 0 -43 -353 53 11 -435 -269 -288 5 -0 2 1 -2 3J -2 303 109 -0 106 4 -118 -33 —7 -a 1938 1937 2 20 2 33 4 137 2 33 4 53 7 99 , 9 25 4 77 6 98 S 33 6 99 130 1940 317 —21 -43 -34 87 2,727 1,096 1,031 1,013 879 -32 -32 02 15 S5 954 702 33 67 25 43 22 35 22 071 191 25 443 12 252 57 30 -26 -32 01 15 84 717 503 34 60 0 41 20 32 21 G01 101 24 434 12 240 65 32 -22 -37 70 17 96 379 121 31 70 29 73 —7 31 35 850 216 43 583 9 34 6 105 11 90 7 37 0 89 13 11 63 12 100 33 109 SO 454 92 4S See tabic 17, footnote 1. Industries In which thore ara no corporations organized for profit, or in which corporate profltsafter tax are estimated at loss than $500,000 !n all years, are omitted from this table. Sec table 17, footnote 3. T a b i c 20.—Net Corporate Dividend P a y m e n t s , by I n d u s t r y , 1929-46 ' 2 (Millions of dollars] * 1 1929 1930 1931 1932 1933 1934 1935 1030 1937 1938 1039 1040 1941 1942 1943 1944 1945 6,823 5,500 4,098 2,574 £,066 2,596 2,872 4,557 4,093 3,105 3,796 4,049 4,405 4,207 4,477 4,080 4,765 7 14 16 8 6 9 13 4 Farms . 1 2 3 4 0 0 I 1 72 120 230 338 Mining . 33 92 11 194 9 13 0 10 7 10 27 70 30 37 09 Crude petroleum a n d natural gas ........... 12 20 22 32 19 40 67 00 Manufacturing 2,047 2,639 1,862 1,102 198 263 328 305 F o o d a n d kindred products 92 99 06 83 40 70 103 142 9 18 20 36 Apparel a n d other finished fabric products 8 20 09 46 S 13 22 32 20 36 51 56 69 95 127 132 196 109 £69 £17 253 100 320 254 13 20 26 29 20 28 37 33 27 53 73 S3 82 181 331 300 42 58 79 106 NonferrousirjetaJsond their products 70 137 214 250 22 65 81 90 10 25 40 39 Transportation e q u i p m e n t except automobiles 70 168 205 248 Automobiles and a u t o m o b i l e equipment 28 50 66 75 Miscellaneous 210 370 474 537 71 177 134 193 139 242 297 344 319 630 635 845 265 344 399 Banking 420 S 5 6 5 Security and c o m m o d i t y brokers, dealers,and exchanges. -90 -91 0 -81 Finance, n. c. e . ... 24 SO 50 04 S 10 15 16 117 190 240 340 177 378 531 671 Railroads... 20 219 353 303 60 62 72 107 4 4 7 8 8 8 12 11 H i g h w a y freight transportation 12 20 30 29 Water transportation 0 0 0 0 A i r t r a n s p o r t (commoncarriers) See footnotes at end of table. 194 C 5,014 19 29 19 37 32 29 27 22 22 16 11 36 17 0 33 £9 £6 23 20 19 13 10 27 34 17 -1 17 18 5 3 3 4 2 2 2 2 2 2 1 2 ) 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 173 194 ITS 237 265 236 176 167 217 102 148 174 65 105 04 109 04 66 138 79 41 13 60 70 00 145 107 31 8 0 11 7 6 7 4 3 1 I 3 3 3 1 9 30 32 24 23 21 10 15 7 12 16 11 28 4 £4 50 50 57 44 02 79 91 73 38 08 116 70 98 18 !8 19 20 19 20 9 19 22 15 £5 24 -14 27 22 19 25 23 27 22 21 42 36 21 35 IS 18 18 993 1,180 1,517 3,333 3,358 1,211 1,741 1,038 2,270 2,138 2,262 £,440 2,428 2,851 303 337 247 242 336 301 296 282 295 268 273 254 296 190 99 80 60 OS 63 67 90 SG 89 91 99 90 86 71 100 104 73 67 44 120 121 77 81 206 116 395 106 60 21 19 IS 37 15 40 29 26 27 £3 14 22 11 8 43 24 23 40 36 33 51 35 15 40 35 £4 0 29 24 26 39 26 24 28 18 23 22 11 S 5 £8 26 65, 48 07 71 83 30 76 61 46 39 27 103 06 58 63 74 95 72 35 7S 70 73 63 93 104 66 145 106 261 337 260 254 £61 172 267 249 264 156 174 .383 313 398 235 £44 103 79 147 193 39 7 120 67 321 283 286 80 19 £2 31 7 —1 45 32 31 23 26 16 12 27 6 25 22 22 27 37 27 21 19 28 23 21 19 30 27 02 80 54 95 84 96 50 30 67 45 63 45 101 22 291 226 314 204 272 £75 246 171 145 84 260 101 37 290 60 81 eo 62 52 29 1£2 124 67 40 102 95 137 211 200 320 382 105 SI 47 154 197 180 189 233 140 119 90 82 12 23 34 134 113 109 SB 131 132 59 111 £5 09 £54 216 172 £4 04 32 32 33 23 26 3 £31 28 43 204 145 2 313 259 77 74 64 179 101 31 31 60 64 60 32 53 47 40 33 37 £1 33 42 31 26 607 046 419 328 774 48S 433 447 601 432 425 347 173 654 194 180 173 169 200 149 166 111 200 270 100 01 283 221 225 278 301 270 347 376 168 112 236 486 333 308 310 283 309 315 154 - 1 7 - 3 1 0 545 504 474 443 435 353 251 316 331 176 178 284 247 227 212 224 217 199 1S9 131 176 143 363 21 0 -4 0 7 13 4 7 1 5 4 -3 -3 -3 69 - 8 0 -173 -174 -74 -81 -94 -351 -089 -59 46 38 35 31 16 17 31 18 50 47 43 49 25 23 35 43 37 18 10 10 10 10 9 14 13 11 11 10 9 8 7 10 154 130 120 159 146 138 130 197 173 128 76 150 143 158 257 237 287 320 124 287 270 231 £33 271 269 238 174 233 73 174 179 150 131 83 114 77 46 126 119 78 20 173 30 e 5 S 4 2 4 12 17 42 50 13 10 9 17 IS1 12 IS 17 S 5 20 IS 19 16 13 19 39 16 3 7 10 10 12 12 13 12 14 11 0 9 7 22 19 28 SI 43 41 20 40 50 24 8 23 22 32 7 1 3 0 6 0 S 4 3 0 1 2 3 3 m July 1947 NATIONAL INCOME SUPPLEMENT TO SURVEY O F CURRENT BUSINESS 33 T a b l e 20.—Net Corporate Dividend P a y m e n t s , by I n d u s t r y , 1929-44) 1 s — C o n t i n u e d {Millions or dollars) 1029 1030 1931 1933 1934 1933 Transportation—Continued Pipe-line transportation . Communications and public utilities Telcphoneand telegraph. Radiobroadcasting . 23 53 49 90 92 11 14 16 18 20 640 861 772 677 634 192 167 201 217 190 „ „ „ 1 1 5 6 4 333 440 601 526 471 24 16 13 53 14 21 36 62 79 S3 Services . 0 1 2 4 6 2 5 7 11 3 1 Commercial arid trade schools and employment agencies. 2 2 1 3 11 16 13 24 37 0 I 1 2 Misc. repair services and hand trades.. ...... 3 10 26 Motion pictures , 5 33 17 Amusement and recreation, except motion pictures 1 2 4 8 11 26 - 3 7 - 4 4 - 2 2 80 1 Data Shown in this table measure toe excess of cash dividends paid by corporations in each continuities in the industrial detail. * Industries fa. which there are no corporations organised for profit, or in which net corporate this table. i Measures the excess of dividends received from abroad over dividends paid to foreigners. 1035 1036 1037 103S 1930 1940 1041 1042 1943 1044 1045 1040 64 64 78 60 66 10 17 10 17 50 21 17 15 19 16 IE 20 20 15 16 649 692 671 683 685 676 591 533 600 612 187 174 174 174 179 177 171 173 IS5 176 14 0 12 11 12 12 12 0 12 11 446 435 499 433 483 472 386 414 396 406 16 16 18 9 15 15 9 9 11 15 79 90 72 61 61 71 £6 81 62 63 S 3 2 2 6 10 6 6 5 0 7 6 5 5 11 9 7 7 7 8 fi 4 4 3 5 S fi 5 3 4 1? 10 25 ■29 21 22 29 23 15 IS 18 17 1 1 1 1 1 1 I 1 I 0 I 1 15 21 2S 6 7 40 40 26 24 26 35 18 e 4 3 4 8 6 0 8 6 7 5 6 3 217 137 11 C O -8 88 137 103 107 100 140 industry over cash dividends received. Sea table 17, footnote 1 for discussion of 50 12 618 1S7 3 411 17 34 1 2 112 12 644 191 3 423 17 34 1 3 18 15 638 172 15 442 0 192 10 9 20 1 74 16 118 dis dividend payments arc estimated at less than $500,000 In all years, are omitted tiom T a b l e 21.—Undistributed Corporate Profits, by I n d u s t r y , 1929-46 »* [Millions of dollars} 1020 All industries, total A Erieultuie, forestry, and fisheries Farms Forestry Fisheries _. Mining „ Metal mining Anthracite mining _ Bituminous and other soft coal Crude petroleum and natural gas. Nonmctallfc m i n i n g . . . . . . . . . ... _, Contract construction ..,[ Manufacturing Food and kindred products-* . Tobacco manufactures ". Textile-mill products Apparel and other finished fabric products Lumber and timber basic products Furniture and finished lumber products.. Paper and allied products Printing and publishing Chemicals and allied products Products of petroleum and coal . Rubber products „ toother and leather products Stone, clay, and glass products _ Iron and steel and their products Nonfcrrous metals and tbeir products Machinery (except electrical) Electrical ma cbtnery Transportation equipment except automobiles Automobiles and automobile equipment. _ Miscellaneous -. Wholesale and retail trade Wholesale trade * BetafJ trade and auto, services Finance, insurance, and real estate Banking Security and commodity brokers, dealers and exchanges......: _ Finance, n. e. c Insurance carriers , Insurance agents and combination offices , Real estate Transportation — Railroads... Local railways and bus linos..Highway passenger transforation..' Highway ireigbt transportation _, "Water transportation — Airtransport (common carriers).. Pipe-line transportation Services allied to transportation _ Communications and public utilities. Telephone and telegraph Radio broadcasting ■Utilities: electric and gas — Local public services, a. e. C Services Hotels and lodging places Persona] services. ..... .Commercial and trade schools and employment agencies Business services, n. e. c Misc. repair services and band trades. ......... Motion pictures Amusement and recreation, except motion pictures. Rest of the world' 1930 2,507 - 3 , 0 4 3 -47 -1 1 -4! -4 -4 -2 2 78 -120 -49 44 -1 -6 —39 -18 41 -54 17 14 S 42 1,756 -1,212 -13 123 39 41 - 1 9 -317 -62 -2 -78 10 I -61 30 —11 -1 30 159 —27 -93 360 -79 -10 2 -63 44 -31 -145 J92 33 13 179 13 114 74 40 72 213 100 -33 103 9 -320 348 414 -39 -65 -8 -23 -70 -60 -S6C -241 -329 -585 -24 —155 -111 3 2 -305 —222 —109, -21 -17 6 -18 -10 -23 -95 -10 19 13 -6 —14 —15 -16 173 -250 108 30 14 -12 40 -231 -37 10 -10 34 -23 -5 1 9 4 3 3 7 0 0 35 10 —12 -17 —24 -23 1031 1932 1033 1934 1035 1936 -5,381 -5,098 -2,428 -1,619 -613 - 2 8 4 -31 -50 - 1 1 - 1 8 -77 -34 -27 —7 - 1 6 -60 -77 -44 -2 -2 -3 -3 -4 -4 —2 0 —1 -4 —3 -3 87 20 -20 - 2 5 0 -169 —62 44 33 -73 -IS -8 —13 -2 -42 -34 —46 -20 -10 -11 4 -24 -33 -5 -23 -13 -8 -74 -47 -111 -2,3fl -2,925 -409 -ISO 91 -103 - 1 4 2 84 -33 43 38 5 -68 76 -247 - 2 2 9 -3 3 -85 -SO -46 -35 -121 -114 -18 -24 -86 -75 15 -79 -47 -86 -43 -12 -04 77 S3 -30 -25 -337 -112 -171 4 -47 -42 —1 -58 -60 -3 11 -13 -34 -113 -84 -90 - 4 0 8 -466 —152 27 4 -104 -30 4 -92 -216 -283 -63 -S3 -41 -40 -41 -36 -26, -57 6 -19 -147 -260 3 -34 -91 -111 -840 —165 -37 -977 0 -2 —127 -329 -35 -522 -648 -165 -904 -1,016 - 8 8 2 -653 -263 —204 -181 -227 -16 -67 -47 -117 29 -156, —150 -139 70 -22 -32 35 5 0 0 4 -530 -511 -560 -339 -510 -934 - 3 9 3 —445 -393 -303 -384 -367 —45 -51 -50 -54 -6 -23 -11 -13 2 -14 -5 1 —15 -29 -25 —7 -0 -0 -3 -2 -1 -26 —2 -13 -13 -18 -13 -36 -276 -320 -237 -161 —9 -65 -63 -81 3 -4 -10 -7 -05 -233 -239 -137 —4 -14 -24 -12 -DC, - 9 0 -227 -130 -32 -32 -33 -45 —0 -22 -6 -3 -113 —Hi -111 -4 -4 -1 -as -24 -19 -9 -22 —2 -05 -32 -12 —16 -1 -48 -25 -10 -4 -5 0 -3 -14 -10 16 -6 -30 226 39 14 -24 —1 -20 -7 13 17 -12 25 10 16 1 -111 60 58 30 -34 60 2 -22 962 77 7 24 0 0 4 20 9 71 0 5 3 24 73 31 102 26 -3 58 1037 1938 -4 78 6 -16 1042 578 -33 4 -51 -12 17 1 23 6 58 148 —4 -12 13 110 36 134 25 9 86 14 8 —4 45 -26 14 39 28 55 \ 15 9 —2 15 17 10 —4 -6 38 70 22 - 6 4 1,217 1,912 3,443 3,071 198 16 313 140 252 22 14 13 28 27 64 -76 241 227 78 10 -16 70 57 13 12 -12 72 60 38 97 14 -14 38 24 39 -S 91 126 79 22 44 -7 51 35 69 165 231 180 267 231 335 185 19 125 77 60 28 30 2 10 36 37 3 -16 47 70 80 57 4 .104 542 481 268 -98 124 • 68 S3 96 6 107 431 363 248 14 52 182 157 92 4 236 24 307 103 0 116 93 206 162 32 62 72 31 8 40 734 216 353 713 -85 121 200 -21 367 311 95 402 153 367 -64 23 77 25 -174 -117 246 105 260 36 122 J -10 -24 1041 - 9 0 6 1,209 2,398 4,021 5,136 -13 -23 19 16 -6 —21 - 1 0 22 20 -1 -3 -3 -2 -3 -4 —1 0 0 0 -1 -1 190 97 168 16 147 126 89 05 35 81 47 84 0 -14 -19 -12 6 3 -81 - 7 8 -58 -57 435 -176 —136 -108, 116 124 94 75 2 4 4 2 -504 - 3 7 0 -348 -213 -458 -266 -307 -412 -260, - 1 8 3 -224 - 8 2 1 -32 -75 -40 -62 -9 -5 -10 -7 4 2 13 2 -35 -12 - 8 -11 -5 -3 -5 -3 -4 1 - 5 3 -14 -13 -16 -17 -15 -175 -113 - 5 7 - 9 3 -43 -16 -13 - 2 7 2 3 3 % -44 -64 -12S -5 -3 - 6 -91 - 8 -42 -43 -44 - 2 8 -S3 - 2 1 - 3 2 4 0 -25 -10 -10 1940 -8 -24 -10 -4 131 12 17 -12 59 13 60 -1 ~5 -1 -II -112 - 4 S 0 - 2 7 1 -39 143 49 -S -4 0 3 1030 -5 -9 0 —t —7 -24 -5 —1 0 8 -7 -22 -33 -S3 2 8 4 5 - 2 1 1 —182 -140 -108 -158 —80 882 200 -47 -82, 98 3 -62 20 40 -49 -18 16 -123 -46 -93 -27 G 8 13 7 280 -26 9 -9 24 6 6 0 -15 13 29 5 -18 -3 -10 -27 —1 -5 3 0 15 —4 -23 10 1 63 16 7 43 -3 -5 19 24 7 -18 4 98 -1 6 56 -3 35 -18 1 -12 7 -2 -5 1 20 —1 10 3 20 -1 -10 -3 -12 751 20 36 15 5 14 1043 5,239 25 20 30 25 -4 -5 -1 0 178 19S 44 65 10 6 55 61 36 47 3 9 18 47 3,342 2,933 317 286 16 23 1SS 178 71 74 54 40 44 33 S3 63 116 130 193 227 232 384 56 53 35 36 38 44 495 39S 80 121 270 207 188 153 453 425, 75 108 63 73 349 810 323 343 4B2, 506 211 317 346 446 -28 -29 - 6 5 -67 19 5 - 5 3 -57 987 673 923 848 31 29 51 48 14 13 15 21 9 15 14 6 110 0 5 6 109 0 01 5 1044 151 26 0 112 4 15 IS 6 71 18 13 37 3 w 14 38 16 162 47 21 5 10 4 3 15 4 16 It -0 5 64 6 -7 6 65 4 -7 1045 1046 4,174 6,925 27 41 31 48 -4 -6 -1 0 166 213 13 15 10 4 53 56 122 86 10 5 160 26 2,125 3,487 266 690 41 17 161 63S 63 202 142 41 85 23 76 257 185 118 440 204 220 201 150 53 61 34 137 41 424 243 129 34 170 120 109 - 1 4 5 183 -112 34 -195 40 34 848 1,953 308 331 517 1,145 331: 468 595 471 -2J -70 14 5 -60 447 330 24 42 —4 22 -19 -73 20 -62 02 -93 18 47 10 51 M 13 -13 13 10 14 12 20 3 163 50 21 218 44 27 141 6 302 60 33 20 5 40 7 -8 2 43 II 116 23 -0 6 49 1 See table 17, footnote 1. * Industries in which there am no corporations organised for proSt, »r tn which undistributed corporate profits are estimated at less than $500,000 In all yeats, are omitted from this table. ' Hoproscnts soro minus the gross outflow of branch proQts to foreigners. This series differs from net branch profits shown in table II, because profits roceivod by domestic cor porations from foreign branches arc excluded from this line and included in the industry of the recipient corporation. Data for their elimination are net available by industry. 34 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS T a b l e 22.—Inventory July 1947 V a l u a t i o n A d j u s t m e n t , b y I n d u s t r y , 1929-46 ' [Millions of dollars] 1920 All industries, totalA. Corporations, t o t a l ' Mining.. Metal mining Anthracite mining Bituminous and other soft coal raining Crude petroleum and natural gas production Wonmetallic mining and quarrying Contract construction _ Manufacturing Food and kindred products .. Tobacco manufactures Textile-mill products Apparel and other Onisticd fabric products Lumber and timber basic products Furniture and finished lumber products Paper and allied products Printing, publishing, and allied industries.Chemieals and allied products Products of petroleum and coal Rubber products — leather and leather products Stone, clay, and class prodacts . Iron and steel and tlicir products, including ordnance. Won ferrous metals and their products.. . Machinery (except electrical).Electrical machinery Transportation equipment except nu tomobjles Automobiles aud automobile equipment Miscellaneous manufacturing Industries Wholesale and retail t r a d e . . . Wholesale trade . Retail trade and automobile services — Transportation . Railroads — local railways and buslines Highway passenger transportation, n. o. c FTifthway freight transportation and warehousing— Water transportation. * Air transportation (common darners) Pipe-lino transportation Services allied to transportation Communications and public utilities Telephone, telegraph, and related services Tftilities: electric and Ras Local utilities and public services, n , e , c B . Unincorporated enterprises, total Mining Metal mining — Bituminous and other soft coal m i n i n g . . . Crude petroleum and natural gas production Nonmotallle mining and quarrying Contract construction Manufacturing — Food and kindred products Textile-mill preducts Apparel and other finished fabric products Lumber and timber basic products Furniture and finished lumber products Paper and allied products -.Printing, publishing, and allied industries Chcm Seals and allied, p r o d u c t s — Rubber products Leather and leather products... Stone, clay, and glass products Iron and steel and tlicir products, including ord nance Nonferrous raetals and their products... Machinery (except electrical) Electrical machinery Transportation equipment except automobiles Miscellaneous manufacturing. Industries wholesale and retail trade Wholcsalo trade Retail trade and automobile services 1330 1031 1032 1033 1034 1035 1930 614 4,016 3,025 1,342 - 2 , 0 6 8 -679 —277 472 3,260 2,414 1,047 23 04 122 S 35 2 12 65 2 4 4 0 2 6 1 13 4 10 16 1 3 9 24 1 11 23 30 3 655 301 2,216 1,585 150 372 233 -36 66 50 15 -25 110 372 219 139 27 74 64 28 32 50 S» 1 27 37 41 1 25 22 38 4 22 16 t 07 102 23 60 341 230 - 6 4 10 77 02 40 60 53 87 44 64 -315 S 3 41 80 101 t 46 07 163 -11 60 122 34 -16 10 36 -4 3 14 -I 3 8 18 3; 75 17 39 64 10 18 863 SIS 152 S04 140 78 432 315 348; 178 372 74 7 24 40 53 21 33 43 S 1 2 3 1 0 0 0 o I 1 2 0 1 0 1 0 1 0 1 0 2 I 1 1 0 0 10 33 4 4 6 8 1 24 27 12 3 1 1 0 0 205 755 en 142 2 14 6 0 2 0 1 0 1 0 0 1 S 1 4 1 3 0 1 3 32 »i 18 35 12 60 30 —2 19 12 0 10 4 5 4 10 19 2*, 10 1 5 5 3 0 5 4 3 0 0 I 1 0 2 2 3 2 2 2 1 1 0 0 0 0 a 0 1 1 3 o -2 1 1 0 o 4 1 7 -2 1 0 3 -I 0 0 0 0 0 0 0 0 1 2 3 0 248 527 634 126 43 27 149 104 96 4$6 423 205 1037 0 -I -2 -2 -4 -471 —79 57 -153 -42 -16 79 -9 45 -18 -37 -5 -20 -SO -25 0 0 0 0 0 0 -5 15 15 3 5 —1 0 -1 -1 0 0 0 -1 0 0 0 —1 0 0 0 0 0 0 0 - 4 1 -103 —1 - 3 9 -64 -40 _2 1 —2 0 0 —1 -39 33 -72 -2 0 1 0 0 0 0 0 1 0 100 - 1 3 1 47 - 3 8 152 - 9 0 0 - 5 0 -120 1 —I 0 0 0 -1 2 -54 —1 0 0 -1 0 0 -5 -11 1 7 1 0 0 0 -I 0 0 0 0 -3 —1 0 0 _2 -438 -70 —362 -1 0 —1 0 0 0 -48 -32 -10 —1 —1 0 003 - 7 1 4 11 - 1 2 019 152 -8 33 17 —1 0 —1 -7 -3 0 -3 0 0 0 0 —1 0 0 0 J0 -3 -13 -6; „1 =? —I -29 0 0 0 0 0 1940 1041 104$ 1943 1044 1945 1946 - 2 0 0 -3,201 -1,02(1 - 9 0 2 - 4 1 4 135 -II 12 - 3 1 I -1 03 - 1 4 7 -30 -3 42 —I 16 0 8 7 21 13 -10 309 -219 158 -121 161 -OS -5 tl —5 9 I 0 0 0 0 0 0 0 0 0 0 1 0 0 -3 9 —1 2 —2 7 0 221 -166 1 —1 0 0 0 0 —1 1 0 0 -3 3 IS - 2 8 —7 0 —4 I 4 -11 —2 0 -2 0 0 1 0 -1 I 0 0 0 0 0 0 0 i —1 -27 -06 -11 -10 -25 -0 —0 —1 1039 — O 1,184 C -2,143 -625 -227 -738 - 3 1 0 —0 - 1 0 -4 -67 -7 —4 0 -2 -35 -1 -1 0 -4 0 —1 -2 0 0 -6 —2 -3 0 —1 -15 -1 -3 0 —1 -7 —1 -3 -7 0 -22 -1,340 -457 -101 - 4 7 8 - 1 1 227 -208 -209 —15 - 6 3 S3 10 - 4 5 s --84 -169 31 36 -368 -0 17 10 - 1 3 -72 -S —2 -8 0 -60 -5 -4 -54 -8 6 - S -17 -52 1 -37 11 - 3 -13 —1 -6 1 -36 60 -03 -30 -7 -121 - 2 7 - 3 7 - 7 0 17 - 5 2 —54 —24 - 4 9 0 —7 7 28 -79 8 —1 - 1 3 —6 - 4 1 -25 - 6 3 - 6 1 - 1 5 - 3 1 -167 27 0 -7 -100 —9 - - 9 - 0 6 -22 -50 -5 -3 -35 - 6 —13 -2 -1 -1 -5 -2 0 -7 -10 2 -13 - 0 - 7 -10 -7 -31 2 34 - 0 2 7 -143 —48 -^226 107 —281 -128 - 7 -102 -64 - 7 3 - 1 5 —41 -340 -0 -28 -12 -52 -5 - 8 -24 -43 -10 —5 —1 -1 -1 -3 0 0 0 0 0 0 0 -1 0 —1 0 0 0 0 -1 0 0 0 -1 -1 0 -3 _2 a —1 0 0 o -10 -3 -9 -35 —6 -4 -1 -8 o - l —14 -2! -26 -7 —6 —1 0 -1 0 -625 -4 —1 0 _2 1038 0 -148 -2,617 -1,274 -3 -17 1 —2 -9 1 0 -1 0 0 „2 0 —1 0 -3 0 0 _2 -3 —14 -784 —1,664 15 -SCO -273 -133 27 -80 -80 11 -286 -32 9 -82 —7 -30 -32 -14 -33 -45 10 -01 -27 —1 -7 -16 -06 - 1 3 -252 2 30 -139 -13 -a -28 -8 -30 7 -11 -17 -2 —1 -38 10 —5 -11 —2 -54 -58 -22 -24 -25 -0 -29 -27 -5 -21 -61 —14 -18 -50 3 -407 -882 -37 -210 3 -483 -40 -14 -12 —1 0 0 0 0 —1 0 -0 -2 -7 0 -52 1 0 0 0 & 0 —7 -6 3 0 2 -5 -2 -1 —1 0 0 0 o -2 0 o 0 0 0 -39 2 -41 -390 -30 -20 -1 0 -1 0 0 -I -I -20 -5 -15 0 -644 -2 0 o -i -t -12, -78 -24 -6 -22 -5 -4 -1 —1 —4 0 _2 -t —2 -t -2 0 0 -3 -552 -143 -400 -348 -10 -9 —1 a o o o o o -7 —2 -5 0 - 8 2 4 -356 —2 -3 -1 -2 0 0 0 0 -1 -1 0 0 -5 -4 - 0 0 8 -273 -40 -280 -212 7 -3 -13 -23 -17 -18 -18 -40 0 1 -4 0 -1 8 5 11 0 -11 -185 -lie -60 -14 -12 -1 0 0 0 0 -1 0 -10 -2 -71 -59 -9 -7 —14 -10 -t -10 -9 0 -32 -2 1 3 2 3 4 -9 -57 -22 -35 -11 -10 -1 0 0 0 0 0 0 -7 -2 -5 0 -353 -138 -1 0 0 0 0 0 -1 0 0 0 -4 —4 -33 -23 -10 -13 —2 0 —1 0 -3 -t -2 —1 0 0 -I —t 0 0 0 -59 0 0 0 0 0 -4 -10 1 -1 —2 -2 0 1 0 -1 0 0 0 1 ] 0 -45 -7 -38 0 0 -5 0 —1 —1 o -t -315 -110 -04 -38 -72 -251 -9 —1 0 0 0 0 1 The Inventory valuation adjustment measures the excess of the value of the change in the volume oinonfarm business inventories over the change in the book value of nonforro inventories. No inventory valuation adjustment is required in the Industry Farms because the net income of unincorporated enterprises in that industry (as shown in table 10) is estimated by a method which yields results directly comparable to the sum of net income of unincorporated enterprises and the inventory valuation adjustment In other industries. The inventory valuation adjustment has been estimated only in those industrial divisions—mining, contract construction, manufacturing, wholesale and retail trade, transporta tion, and (for corporations only) communications and public utilities—In which inventories are an important Income-determining factor. Within theseliidustrial divisions stubs have been omitted for detailed industries (or which the inventory valuation adjustment is estimated at less than $500,000 in ail years. • The industrial classification of the corporate inventory valuation adjustment Is subject to the same incomparabilitles over time as corporate profits (described In footnote 2 to table 17), except that the 1934 valuation adjustment data are comparable to those from 1929 to 1933 instead of 1935 to 1911. July 1947 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS T a b l e 23.—Net Interest, by I n d u s t r y , 1929-46 35 l [Millions ol dollars] 1029 All industries, total. Agriculture, forestry, and fisheries Farms Agricultural and similar service establishments Forestry Fisheries Mining Metal mining._..—.. Anthracite raining.. Bituminous and other soft coal Crude petroleum and natural gas Nonmetalllc mining Contract construction Manufacturing —..... Food and kindred products Tobacco manufactures Textlle-roill products Apparel and other finished fabric products Lumber and timber basic products Furniture and finished lumber products. Paper and allied products ............— Printing and publishing Chemicals and allied products Products of petroleum and c o a l — . . ........_.._ Rubber products Leather and leather products Stone, clay, and glass products..... ..... Iron and steel and their products Non ferrous metals and their products Machinery (except electrical) ..... ...... Electrical machinery Transportation equipment except automobiles Automobiles and automobile equipment Miscellaneous Wholesale and retail trade — "Wholesale trade Retail trade and auto, services Finance, insurance, and real e s t a t e . . . . . .„., Bonking — Security and commodity brokers, dealers, and exchanges Finance, n, c. c ..... Insurance carriers Insurance agents and combination offices . . Reai estate Transportation Railroads , Local railways and buslines Highway passenger transportation... .. Highway freight transportation Water transportation Airtransport, (common carriers)... Pipe-line transportation — Services allied to transportation.. ...... Communications and public utilities Telephone and telegraph Radio broadcasting — Utilities: electric and gas Local public services, n . c. o — Services — Hotels and lodging places— Personal services Private households Commercial and trade schools and employment agencies. Business services, n, o, c Miscel. repair services and hand trades .. Motion pictures — Amusement and recreation, except motion pictures-* Medical and health services Legal services Engineering and other professional services, n . e. e Educational services, n. c. c. Religious organisations— -— ... Nonprofit organizations, n . c . c Rest of the ivorld > 1 1030 1031 1032 1933 1034 1035 1036 1037 103S 1030 1040 1041 6,541 6,170 5,938 5,(130 5,010 4,750 4,530 4,474 4,370 4,290 4,212 4,104 833 822 5 a 4 32 7 6 11 —2 10 16 -81 44 —5 15 -4 13 1 0 «i -10 5 10 1 1 -3 -8 -26 -25 -10 -70 -1 788 778 5 1 4 25 -"2 7 11 0 9 27 13 32 —5 14 -3 14 2 10 13 -12 22 745 736 0 0 10 S 24 £6 20 -5 0 -5 14 2 12 14 -12 25 10 1 4 -6 -1 -22 -22 -5 -32 -1 92 SO 21 20 71 £4 2,463 2,550 332 480 - 2 8 7 -147 —1 6 11 2 -23 -20 -3 -33 2 77 12 65 2,401 188 -92 -SO -103 - 0 3 -115 - 8 6 - 8 2 -5 -S -10 2,498 2,561 2,502 576 613 550 409 630 480 41 52 41 14 10 15 23 23 19 2 0 3 -1 -1 -2 -7 -6 0 2 1 3 605 458 304 06 57 08 —1 —1 -2 478 323 374 19 20 10 839 1,G6S 1,031 61 49 49 9 9 10 871 672 1,528 —3 - 3 -1 -7 -14 - 1 2 8 8 28 21 0 7 -5 -7 -4 -5 -6 -5 -2 -3 —1 47 44 48 33 32 33 4 3 4 577 008 560 677 60S 4 1 4 36 5 8 8 12 3 23 11 13 -8 2 -6 532 674 4 1 3 34 0 7 7 10 4 15 23 IS -8 4 -5 520 512 3 2 3 41 3 9 S IS 32 19 -6 8 —2 12 11 1 2 9 11 0 12 -6 -13 -12 4 24 25 5 6 5 -1 —2 -2 3 4 5 23 19 15 3 1 1 - 2 1 - 19 - 1 8 -0 -9 -13 -2 —2 - 1 -28 -23 -15 —2 1 2 32 21 29 4 5 -3 17 27 32 2,301 2,131 2,089 28 64 167 -54 - 4 7 -58 112 50 -40 —54 —41 -73 -3 -3 -4 2,310 2,138 2,040 638 653 619 546 650 634 42 04 47 12 16 15 22 28 20 5 4 7 0 -1 -2 2 -4 -4 2 2 2 478 604 694 65 09 00 0 —1 300 497 407 23 29 32 662 673 714 39 30 40 8 8 9 612 548 408 I 1 0 -1 -2 0 9 10 10 15 '20 24 4 6 0 —2 -1 -3 -4 -4 -5 1 0 0 60 50 40 34 34 34 0 0 4 426 242 324 11 2 10 12 450 451 3 2, 3 38 I 7 0 18 3 3 45 21 427 421 3 1 2 32 2 8 8 II 3 4 43 18 -2 8 1 8 1 8 414 407 3 I 3 34 2 8 7 15 2 4 97 22 0 10 4 9 430 423 3 I 3 36 0 7 8 18 2 0 51 25 2 456 440 3 1 3 34 IS 455 449 30 -2 6 7 17 55 IE 2 10 —1 9 0 4 3 0 7 7 9 3 2 1 1 12 11 7 10 10 4 4 5 6 6 - 8 -10 -6 -2 -4 7 8 0 5 5 4 2 3 2 3 1 1 2 1 0 2 0 I 1 2 1 60 41 20 55 30 22 -1 3 3 3 4 2 - 1 8 - 1 8 - 1 2 —16 - 1 6 - 1 0 -6 -6 -6 -4 -3 -7 -1 - 4 -12 0 0 0 -18 -17 -16 -18 -14 - 2 i - I -1 —1 -3 —2, —2i 45 22 47 29 54 50 13 16 16 0 15 2 34 29 34 39 20 20 1,930 1,853 1,715 1,727 1,602 1,520 —7 - 1 0 - 3 0 - 5 0 - 7 9 -4 -33 -40 -46 -37 -39 -33 28 - 3 3 72 47 - 1 6 72 —0 - 1 2 3 13 7 -28 -! -3 -3 -3 -3 -4 1,855 1,783 1,731 1,084 1,667 LI 507 568 612 617 010 640 501 516 510 637 522 517 04 42 54 60 68 00 0 9 11 11 11 11 IS 13 14 16 16 17 7 3 2 6 6 5 0 0 0 0 0 1 2 I 2 1 ! 1 1 1 1 2 2 401 380 422 424 478 429 43 56 51 50 61 66 0 0 0 Oi O 0 398 353 354 349 40S 321 21 22 20 IS 10 20 796 808 323 852 527 095 30 33 38 35 33 33 7 8 6 6 0 6 536 047 726 801 683 718 2 0 0 1 0 0 -3 -1 -2 -2 0 6 7 7 8 0 8 15 10 12 14 13 15 4 2 2 3 4 3 —1 0 0 0 -2 -1 -3 —3 -3 -3 -4 -4 0 0 -1 0 0 0 40 44 42 45 46 48 33 31 32 33 30 29 6 6 6 0 M 161 133 127 120 207 195 1042 1043 1944 1045 1040 3,878 3,307 3,207 3,130 3,174 462 414 372 455 408 367 3 2 2 1 2 2 22 17 8 -6 -6 -4 6 5 6 1 15 10 5 I I 4 2 3J -40 10 17 1 6 10 -2 6 0 3 0 3 0 5 1 4 6 1 —11 - 1 2 - 1 0 4 32 27 4 4 3 I 1 -I 0 -1 -3 42 13 7 -3 0 I - 2 2 —27 - 2 4 -4 -7 0 —II - 2 0 —34 -8 -18 -13 —2 -3 -2, 51 25 - 3 4 -0 17 12 34 13 - 2 5 1,403 1,670 1,403 - 9 0 —45 -Oi —33 - 3 2 - 4 6 —41 - 3 1 - 4 2 11 12 14 -4 -5 -5 1,635 1,059 I, 545 603 471 484 448 419 34 39 33 3 7 0 11 13 12 2 0 2 0 0 -1 1 2 1 2 0, ] 375 355 389 50 45 59 -1 0 296 316 304 13 15 14 605 1,024 801 34 34 33 2 6 5 905 085 500 0 0 0 -3 -3 -2 3 5 5 0 8 8 1 1 1 2 0 2 -3 -3 -2 -2 -1 -2 31 38 35 30 29 29 4 4 51 130 115 126 359 345 2 1 2 7 -4 5 1 4 1 3 -44 15 5 -2 —I 0 0 1 0 -!8 25 3 -1 -3 6 -2 -24 -4 -33 -8 -3 -40 -9 330 325 2 8 —4 5 2 4 1 4 —27 17 5 —2 —1 0 0 2 1 -18 20 3 —1 —3 10 -2 -23 -3 -32 -7 -2 -48 -7 204 280 2 1 2 9 -6 6 2 5 1 4 -51 18 0 -3 —1 0 0 I 0 -22 32 3 -2 -4 8 -3 -28 —4 —40 -9 -3 —59 —10 -31 -41 -49 1,410 1,374 1,373 - 9 5 —137 - 1 3 7 -64 - 0 5 —71 -43 -47 -70 —25 5 -8 -6 -8 -6 1,608 1,037 1,084 441 401 391 332 301 348 33 41 35 3 3 3 10 10 10 2 2 2 —I —1 -1 1 1 1 2 3 3 382 360 375 65 48 52 —1 -) —1 310 307 311 15 13 12 S74 590 722 34 42 36 2 -2 —2 474 408 623 —I 0 -1 —4 -5 -4 4 3 2 6 7 7 0 0 0 3 1 2 -4 -3 -2 —3 -2 -2 28 24 28 29 20 29 4 3 3 122 118 123 Hot interest measures, in each industry, O) cosh interest payable, plus (2) imputed interest paid (by financial intermediaries only), minus (3) cash interest (including govern ment interest) received by business (but not including interest received by solo proprietorships and partnerships not engaged in lending as a principal activity), minus (4) imputed interest received b y business. Derivation of the all-industry aggregate is shown in table 37, Because of the changes in corporate reporting described in table 17, footnote I, data for corporate interest paid and received which enter into those computations are not strictly comparable In industrial classification between the periods 1920-33,1034-41, and 1942-46. 1 Measures the net inflow of interest from abroad. 36 NATIONAL INCOME SUPPLEMENT TO StOKVEY O F CURRENT BUSINESS July 1947 T a b l e 3 4 . — N u m b e r of F u l l - t i m e E q u i v a l e n t E m p l o y e e s , b y I n d u s t r y , 1 9 2 9 - 4 6 : [Data in thousands] 1929 All industries, total- 1930 1931 1932 1933 1331 1035 1936 193? 195$ 1939 1940 1941 1942 1943 1944 1943 1946 35,295 33,245 30,107 26,661 27,100 30,230 31,651 34,824 36,187 34,582 36,038 37,981 42,556 47,523 53,639 55,164 53,406 47,147 3,110 2,970 2,809 2,607 2,539 2,451 2,539 2,664 2,769 2,734 2,693 2,668 2,632 2,049 2,507 2,334 2,220 2,253 Agriculture, forestry, and fisheries £,934 2,350 2,690 2,493 2,433 2,346 2,429 2,561 2,631 2,620 2,595 2,600 2,532 2,542 2,406 2,227 2,118 2,148 Farms . 4 62 43 49 68 54 Agricultural and similar service establishments S 43 37 45 42 00 53 54 54 22 60 55 63 20 63 43 20 22 23 24 25; 37 45 3S 46 42 45 49 52 Forestry. . 20, 42 22 24 24 24 24 24 24 24 23 22 21 22 23 25 23 24 24 Fisheries 21 829 950 932 313 672 693 822 840 897 935 918 879 975 832 927 859 Mining 71 119 124 39 132 107 132 131 118 9S 92 60 00 79 107 Metal mining 103 50 98 Ml 81 73 84 89 92 91 89 98 92 123 194 144 Anthracite mining . 106 80 £8 470 471 434 415 380 452 418 358 415 452 480 381 439 416 373 431 443 457 Bituminous and other soft coal. .... ..... 192 159 216 177 198 205 183 187 196 204 192 165 130 124 163 148 118 105 Crude petroleum and natural gas . 76 SS 88 73 73 67 TO 62 02 54 70 31 Noranctalllc mining 79 91 101 90; S3 5S 1,434 1,366 1,198 Contract construction 703 396 800 1,104 1,082 1,055 1,219 1,235 1,764 2,126 1,563 1,109 1,122 1,637 907 10,428 9,309 7,""" 6,678 7,204 8,364 8,904 9,645 10,691 0,131 9,967 19,882 13,137 16,279 17,399 17,049 15,133 14,471 Manufacturing 1,041 1,020 939 1,085 1,106 1,187 1,223 1,166 1,176 1,223 1,303 1,384 1,404 1,441 1,429 1,494 Food and kindred products 914 841 145 111 133 104 Tobacco manufactures 101 102 100 96 103 IDS 107 104 109 102 112 103 120 108 1 1,095 1,025 Textile-mill products 907 1,031 1,139 1,196 1,218 1,263 1,092 1,215 1,223 1,383 1,388 1,321 1,217 1,165 1,309 772 768 829 843 807 632 722 672 693 Apparel and other finished fabric products 903 918 1,043 1,079 1,073 1,049 1,021 1,992 604 469, 303 225 270 581 609 633 5S4 559 525 393 431 509, 320 360 415 459 Lumber and timber baste products 437 393 342 334 421 289 329 364 261 279 371 321 Furniture and finished lumber products 406 403 *473 406 460 »444 234 325 443 393 390 394 314 239 300 2S0 226 244 277 250 Paper and allied products . . ....... 380 336 378 301 615 549 550 570 617 548 481 449 492 Printing and publishing 60S 581 554 577 578 510 554 904 397 377 329 431 369 379 393 201 321 773 713 849 414 469 530 333 Chemicals and allied products 790 780 123 132 131 115 97 168 136 151 121 124 99 105 125 Products or petroleum and coa! 183 186 197 207 222 176 154 141 110 265 142 Rubber products......... ....... . 189 224 239 235 139 140 159 127 134 142 124 120 370 375 ' 353 372 367 345 352 339 344 402 375 355 356 406 410 315 300 320 Leather and leather products.. 397 345 356 310 469 413 386 433 343 369 215 202 281 317 277 204 Stone, clay, and glass products . . 430, 1,217 1,092 687 749 917! 857 Iron and steel and their products 990 1,147 1,317 1,026 1,155 I,33t 1,641 "1,959 2,460 2,424 2,063 > a1,749 325 175 209 222 503 492 456 493 323 410 *460 266 284 249 277 313 132 220 Nonferrous metals and their products 764 373 392 505 577 064 791 671 509, Machinery (except oleetrical) 626 061 792 1,087 1,303 1,457 1,405 1,325 > 1,366 519 401 917 = 846 332 242 251 319 338 430 Electrical m a c h i n e r y . . . . . . . .... 960 1,037 607 >757 353 398 455 335 150 101 105 137 30 171 147 Transportation equipment except automobiles 675 * 1,749 3,271 3,175 2,018 »850 136 301 141 71 105 540 433 464 492 580 655 5 576 325 341 306 '406 393 467 543 403 352 299 300 Automobiles and automobile equipment 285 221 242 262 178 284 524 496 488 >526 422 "468 219 260 Miscellaneous 300 342 270 5,820 187 4,9X8 4,473 Wholesale and retail trade 1.445 5,523 5,052 1,133 4.448 1,247 5,164 5,561 8,017 5,890 6,129 0,479 6,922 6,715 6,509, 6,632 6,894 6,227 613 1,014 1,574 1,626 1,725 1,647 1,654 1,594 1,634 1,990 Wholesale trade 4,373 1,393 1,253 3,340, 1,131 3,711 1,279 1,374 604 4,376 4,555 4,853 6,197 5,008 5,015 5.038 5,210 0.237 Retail trade and auto, services 1. '"" 4,130 3,794 1,189 3,317 1,167 3,885 4,187 Finance, insurance, and real estate 335 1,310 1,250 284 1,132 1,227 1,268 1,265 1,290 1,345 1,334 1,354 1,314 1,303 1,334 1,307 311 1,145 378 309 319 328 336 350 238 296 235 286 277 276 Banking 128 375 345 231 80 S3 43 62 83 83 83 103 Security and commodity brokers, dealers and exchanges. 39 38 40 60' 5S1 OS 85 74 130 89 31 116 106 10B 123 120 114 90 87 104 113 93 105 102 114 Finance, n . e . e 231 78 108 339, 305 394 337 348 357 319 233 283 278 207 273 285 290, Insurance carriers 120 328 352 337 117 116 145 117 116 117 120 119 118 122 119 289 294 Insurance agents and combination offices.... . 120 117 112 113 112 114 2,674 419 407 406 404 441 373 395 420 435 238 303 320 343 364 291 295 1,934 Heat estate 1,846 2,632 2,280 1,155 1,341 1,910 2,072 2,257 2,410 2,628 2,811 2,391 2,860 2,046 2,159 1,897 1. Transportation 1,122 1,113 1,194 1,251 1,001 1,114 1,160 1,285 1,429 1,534 1,616 1, 280 1,659 1,405 Railroads...... ., . 1,663 214 1,034 207 201 130 203 239 203 169 184 161 170 134 187 202 204 Local railways and buslines 188 190 109 199 252 124 110 100 92 93 94 94 92 103 117 218 124 157 166 196 148 93 Highway passenger transportation 107 321 376 395 216 249 235 130 424 391 398 270 290 232 254 263 289 Highway treiffht transportation 3 151 204 139 205 247 107 142 144 140 334 142 148 135 145 144 169 Water transportation 6 25 76 64 46 34 24 19 15 13 12 S 6 6 5 4 Airtransport (common carriers) 47 10 17 172 25 24 22 23 21 24 Ptpe-Ilne transportation 25 27 26 25 23 23 26 25 22 20 S5 1.031 1.53 127 159 181 183 137 133 133 129 116 93 109 30 79 114 828 150 Services allied to transportation 534 1.031 945 909 337 921 1.103 799 803 859 893 862 930 Communications and public utilities 898 932 412 784 4 474 402 379 370 393 422 524 459 Telephone and telegraph 616 490 486 500 450 410 400 9 333 465 36 33 30 23 27 20 23 21 IS IS 1,1 13 8 8 384 6 Radio broadcasting II 28 443 454 23 371 473 4S7 TTtiltties: electric and go? _ , 423 373 353 862, 428 386 392 418 437 423 423 5,023 22 22 22 21 21 22 20 4.0O1 28 23 29 IS 11 21 24 22 23 Local public services, n. o. c 387 4,844 4,471 282 3,858 4,209 4,370 4,671 4,917 4.724 4,393 5,156 5,227 5,316 8,077 6,011 6,040 5,399 Services 617 525 266 313 403 402 40S 377 389 327 349 373 373 371 331 418 415 454 Hotels and lodrtfng places 2,263 647 6)0 768 791 902 734 612 677 549 575 613 513 60S 566 1,619 Personal services 763 777 20 2,113 1,591 12 1,535 1,731 1,310 1,036 2,031 1,871 2,000 2,120 2,020 1, Private households ., 1,699 1,549 1,434 IBS 24 17 IS 17 16 149 Commercial and trade schools and employment agencies. 23 35 50 40 16 18 15 12 11 18 59 60 215 219 299 225 240 287 234 240 234 232, 212 182, 131 150 146 164 Business services, n . e. c 142 122 89; 64 56 53 57 57 50 56 50 57 58 MJso. repair services and hand trades.. .. 70 74 253 100 172 174 177 171 135 139 140 231 184 214 229 193 204 148 104 143 Motion pictures.. . 414 va 163' 173 186 202 203 192 197 £01 229 147 150 104 205 385 136 235 Amusement and recreation, except motion pictures 90 lOO 377 389 406 439 749 559 599 629 641 530 604 498 474 419 405 Medical and health services. ... . 35 21 100 134 112 116 116 117 115 111 108 105 105 105 104 101 94 Legal services 224 233 37 77 67 59 63 73 53 33 31 29 25 23 21 29 37 Engineering and other professional services, n . e. o IDS 206 267 266 270 205 2701 251 269 240 244 234 232 195 233 228 278 Educational services, n . e. c.'-. 153 140 138 189 192 191 199 199 197 3,371 194 294 196 199 193 195 190 188 190 Religious organisations 3,194 147 194 185 142 157 102 144 144 147 152 159 157 551 141 Nonprofit organisations, n. e. c 194 201 206 333 Government and government enterprises 277 3,328 3,408 309 3,884 4,743 5,043 6,158 5,540 6,164 6,142 0,267 7,303 9,740 14,798 17,144 17,013 8,397 923 ESI $02 Federal—general government 201 251 300 1,406 1,452 3,155 2,467 2,974 2,909 2,091 3,997 6,474 11,593 13,911 13,727 5,376 571 653 957 1,719 2,519 2,546 2,429 1,360 401 531 ' 527 518 320 305 0 Civilian, except work relief * 0 249 342 546 1,676 4,164 9,032 11,366 11.301 3,510 313 326 263 290 250 290 261 257 297, Military' 2,247 47 787 728 2,334 1,627 2,130 1,996 1,789 1.304 373 0 2,419 0 Work relief * 601 0 0 0 1,"" 373 S85 399 366 349, 323 339 343 300 298 1,109 300 521 463 416 433 FedemI—government enterprises. 1,105 2,331 2,431 1,223 2,557 2,909 3,145 2,541 2,599 2,698 2,732 2,746 2,749 2,696 2,613 2,594 2,622 2,905 State and local—general government 0 1,110 1,120 Public education' 87 1,034 1,033 1,112 1,134 1,105 1,196 1,224 1,228 1,234 1,223 1,204 1,188 1,198 1,290 110 1,217 1,267 Nonsebool, except work relief 104 1,174 1,223 1,268 1,352 l,40t 1,496 1,497 1,506 1,509 1,466 1,409 1,406 1,424 1,015 1 0 33 765 003 2 0 11 11 6 55 44 4 Work relief 0 0 0 0 1 299 32,101 158 154 123 146 125 126 119 110 105 99 116 117 23,289 153 143 190 164 State and local—government enterprises r 3 2 1 1 1 1 1 3 5 7 5 1 1 I 0 Rest of the world 23,21* 25,486 26,697 28,605 30,646 28,417 29,895 31,712 35,250 37,778 33,884 38,016 36,384, 38,247 29,917 20,693 Addendum: All private Industries 1 Full-time equivalent employment measures man-years of full-time employment of wage and salary earners and its equivalent in work performed by part-time workers. Full time employment is defined simply in terms of the number of hours which is customary at a particular time and place. For a full explanation of the concept, see SUHVET or CURRENT BUSINESS, June 1645, p p . 17-18. 1 See table 14, footnote 1. * School teachers are considered to bo employed during vacation periods. 4 Includes tfnlted States citizens, but not foreigners, employed abroad by the United States Government. •Includes personnel stationed abroad, but personnel recruited from the territories is excluded. * Because of the exceptional character of work reliel employment, (all-time equivalent employment has been computed for all years by uso of a 40-hour week as a measure of fulltime1 employment. Represents the estimated number of permanent United States residents employed In the United States by foreign governments and international organizations. 1947 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CUBKENT BUSINESS 37 Table 25.—Average INmnber o f F u l l - T i m e a n d P a r t - T i m e E m p l o y e e s , b y I n d u s t r y , 1939-46 ' {Data in thousands] 1939 All industries, total. Agriculture, forestry, and fisheries...-Farms Agricultural and similar service establishments. Forestry.. Fisheries Mining Metal mining Anthracite mining Bituminous and other soft coal Crude petroleum and natural gas Nonmetallle mining Contract construction .. Manufacturing Food and fcindred products Tobacco manufactures Textile-mill products Apparel and other finished fabric products Lumber and timber basic products Furniture and finished lumber products Paper and allied products Printing and publishing Chemicals and allied products ._ Products or petroleum and coal Rubber products _ Leather and leather products Stone, clay, and glass products Iron and steel and their products „ Nanferrous metals and their products Machinery (except electrical) Electrical machinery Transportation equipment except automobiles.^. Automobiles and automobile equipment.. Miscellaneous Wholesale and retail trade ■Wholesale trade Retail trade and auto, services ... Finance, insurancp, and real estate ........ Banking. Security and commodity brokers, dealers and exchanges. Finance, n. e. c Insurance carriers. Insurance agents and combination offices Real estate Transportation Railroads. Local rail ways and bus lines Highway passenger transportation. Highway freight transportation Water transportation ......... Air transport (common carriers) Pipe-line transportation Services allied to transportation Communications and public utilities.... Telephone and telegraph _ Radio broadcasting Utilities: electric and gas Local public services, n. o. c Services., Hotels and lodging places. Personal services Private households' Commercial and trade schools and employment agencies.. Business services, n. e. c Misc. repair services and band trades Motion pictures ......... .. Amusement and recreation, except motion pictures Medical and health services * Legal services... Engineering and other professional services, n, e. c Educational services, n. e.c.'< Religious organizations' Nonprofit organizations, n. o. c Government arid government enterprises... Federal—general government Civilian, except work relief • Military*. Work relief Federal—government enterprises State and local—general government Public education« Nonschool, except wort relief Work relief. State and local—government enterprises .......... Rest of the world *. Addendum: All private industries 1 1340 1941 1942 1943 1941 1045 39,137 40,930 45,353 49,789 45,000 57,027 65,326 2,726 2,595 2,696 2,586 82 24 24 927 IIS 61 439 196 S3 1,235 10,882 1,223 104 1,223 918 500 466 338 56S 469 161 156 2,860 2,680 2,542 91 23 24 935 2,535 2,406 a 366 2,227 95 26 2* 2,250 2,113 88 20 2* 879 107 30 829 82 25 24 832 103 88 381 1S7 73 1,219 9,967 1,175 107 1,215 903 -131 384 314 577 414 135 146 372 343 1,155 284 661 368 188 467 300 6,80i 1,625 5,180 1,393 296 76 117 144 420 2,073 1,114 IS* 63 3*7 148 15 22 ISO 870 462 23 423 22 5,423 465 656 2,231 21 278 74 191 215 504 120 37 265 206 211 7,828 4,129 571 342 3,216 373 3,183 ],267 1,877 39 143 1 31,368 387 369 1,331 328 792 455 301 5*3 342 7,199 1,679 5,520 1,440 29S 71 124 857 143 447 2,164 1,160 170 102 385 150 19 23 155 900 4IO 25 443 22 5,712 417 720 2,365 19 280 72 192 230 530 126 41 270 210 234 7,723 3,994 663 549 2,792 385 3,183 1,273 1,872 33 161 2 83,205 2,532 82 22 24 875 131 92 452 204 96 1,764 13,137 1,303 103 1,333 1,043 609 460 378 581 530 163 180 410 433 1,641 410 1,087 607 675 655 422 132 89 480 183 101 2,126 15,279 1,384 96 1,388 1,079 633 »44* 880 554 780 183 189 402 436 ^1,959 '460 '1,303 = 757 »1,749 1575 1,780 5,912 M68 7,462 1,699 5,763 1,481 1,4*4 7,692 311 61 135 367 1*4 403 2,358 1,285 101 112 451 151 24 2* 150 954 450 28 454 22 5,789 432 788 2,253 28 204 79 204 250 559 128 53 270 210 243 8,5*0 4,325 957 1,676 2,192 399 3,144 1,281 1,846 17 172 3 36,810 321 *9 123 361 14* 446 2,612 1,429 169 126 474 112 34 26 143 947 474 29 423 21 5,885 431 818 2,209 48 280 El 215 251 599 125 78 266 214 270 10,4** 6,782 1,719 4,15* 909 416 3,076 1,276 1,794 5 171 5 39,320 83 22 24 918 132 34 434 177 91 1,663 17,399 1,404 102 1,321 1,073 53* 421 393 549 849 186 22* 375 413 2,460 508 1,457 960 3,271 325 52* 7,308 1,604 5,704 1,401 330 47 103 316 1*1 434 2,738 1,534 184 151 472 146 46 25 130 911 490 30 373 18 5,618 439 832 269 94 226 237 029 121 63 267 216 233 16,262 11,636 2,519 6,032 85 433 2,960 ,251 ,709 0 173 7 40,391 415 198 79 1,109 17,049 1,4*1 106 1,217 1,049 559 406 390 560 790 197 239 355 336 2,424 492 1,405 1,037 3,176 341 496 7,37* 1,645 5,729 1,384 333 47 92 337 139 431 2,925 1,616 188 160 169 216 47 26 203 800 486 33 353 IS 5,546 448 812 1,795 43 287 100 237 2*3 041 11* 59 200 217 284 17,600 13,911 2,540 11,365 0 489 2,93* 1,23* 1,700 0 160 6 39,522 89 73 389 205 73 1,122 15,133 1,429 101 1,165 1,021 525 403 39* 570 773 207 235 356 381 2,063 456 1,325 917 2,018 306 4SS 7,662 1,737 5,925 1,419 352 52 96 348 141 430 3,010 1,623 190 169 473 260 54 25 206 92* 506 36 362 20 5,579 446 848 1,728 26 307 101 2*4 248 660 114 67 268 219 297 17,394 13,727 2,426 11,301 0 521 2,979 1,245 1,734 0 167 * 37,928 This series measures the average number of full-time and part-time Jobs filled during the year by wage and salary earners. The difference between the data shown in table 2* and 3table 25 is explained in the SURVEY OF CURRENT BUSINESS, June 1945, pp. 17-18. See table 14, footnote 1. * Bate represent the number of persons employed; the number of full-time and part-time jobs is much larger. * Series measures fuli-timo equivalent employment; full-time and part-time employment not available. < School teachers are considered to be employed during vacation periods. * Seo table 24, footnotes 4, 6, and 7, respectively. 38 NATIONAL INCOME SUPPLEMENT TO SURVEY OE CUKRENT BUSINESS J u l y 1947 T a b i c 26.—Average A n n u a l E a r n i n g s p e r F u l l - t i m e E m p l o y e e , b y I n d u s t r y , 1929-46 ' [Dollars] 1920 All i n d u s t r i e s , t o t a l . A g r i c u l t u r e , forestry, a n d fisheries Farms . A g r i c u l t u r a l a n d s i m i l a r service e s t a b l i s h m e n t s . . Forestry Fisheries— Mining Metal miniog Anthracite mining . B i t u m i n o u s a n d other soft coal C r u d e p e t r o l e u m a n d n a t u r a l gas Nonroctallic mining.. Contract construction Manufacturing.. Food a n d kindred products. Tobacco manufactures Toxtile-miU p r o d u c t s A p p a r e l a n d e t h e r finished fabric p r o d u c t s L u m b e r and timber basic products F u r n i t u r e a n d finished l u m b a r p r o d u c t s . . P a p e r a n d allied p r o d u c t s Printing a n d publishing C h e m i c a l s a n d allied p r o d u c t s P r o d u c t s of p e t r o l e u m a n d c o a l . . __ Rubber products .. Leather a n d leather products S t o n e , c l a v , a n d slass p r o d u c t s I r o n a n d s t e e l a n d their p r o d u c t s Nonferrous metals a n d their products M a c h i n e r y (except electrical) Electrical machinery Transportation equipment except automobiles Automobiles a n d automobile equipment Miscellaneous W b o l e s a t o a n d retail t r a d e Wholesale trade R e t a i l t r a d e a n d a u t o , s erviees Finance, insurance, and rcai estate . Banking Security and c o m m o d i t y brokers, dealers and exchanges. F i n a n c e , n . e. c ... I n s u r a n c e carriers .-..* . ... I n s u r a n c e a g e n t s a n d c o m b i n a t i o n offices Real estate Transportation Railroads Local railways a n d b u s l i n e s H i g h w a y passenger transportation H i g h w a y freight t r a n s p o r t a t i o n . . . Water transportation A i r t r a n s p o r t (commoncarriers) Pipo-Une t r a n s p o r t a t t o n Services allied t o t r a n s p o r t a t i o n Communications a n d public utilities T e l e p h o n e a n d telegraph R a d i o broadcasting U t i l i t i e s : e l e c t r i c a n d gas L o c a l p u b l i c services, n . e. c Services i—,--, ,H o t e l s a n a longing p l a c e s Personal services.. Private households C o m m e r c i a l a n d t r a d e s c b o o l s a n d e m p l o y m e n t agenciesB u s i n e s s services, n . e . c . . M i s o . r e p a i r services a n d h a n d t r a d e s Motion pictures— A m u s e m c n t a n d recreation, e x c e p t m o t i o n pictures. M e d i c a l a n d h e a l t h services L e g a l services E n g i n e e r i n g a n d o t h e r professional services, n . o . e . E d u c a t i o n a l services, n . o. c Religious organisations N o n p r o f i t organizations, n . e. c G o v e r n m e n t a n a government enterprises . Federal—general government C i v i l i a n , except w o r k rcticr. Military W o r k relief. .Federal—government enterprises S t a t e a n d local—general g o v e r n m e n t P u b l i c education N o n s c h o o l , except w o r k relief W o r k relief S t a t e and local—government enterprises R e s t of t h e w o r l d A d d e n d u m : All private industries... 1630 1031 1932 1933 1934 103 S 1,421 1,380 459 430 1,409 414 1,092 1,518 1,616 1,728 1,293 2,019 1.413 1,674 1.543 1,503 979 1,155 1,301 1,172 1,398 1,514 2,010 1,073 1,844 1,507 1,327 1,557 1,740 1,605 1,827 1,655 1,747 1,813 1,508 1.597 2,104 1,409 2,090 1.909 3,172 1,802 2,457 1,975 1,575 1,042 1,749 1,721 1,328 1,298 1,272 2,024 1,927 1,425 1.474 1,365 2,533 1,590 1,116 1,009 I, 1,219 701 3,6oO 2,186 1,814 2,109 1,273 925 1, 2,314 1,313 1,610 1,758 1,552 1,571 1,924 1,195 1,903 1,499 1,445 1,549 1036 1037 1,136 1,064 1,109 3,153 1.199 1,270 272 429, 352 251 40G 329 1,396 1.365 1,201 261 350 287 1,406 030 961 1,424 221 1.016 1,542 297 1,055 1,750 602 1,452 1,119 909 723 1, 890 1,600 1,361 186 939 1,526 233 907 1, 369 1,150 1,489 451 1,303 908 985 737 039 1,096 847 162 1,265 941 010 1,156 787 196 1,310 962 404 1,208 1,487 943 1,740 2,011 608 1,647 S10 1,419 1,904 392 1,619 1,503 152 1,191 1,215 970 386 1,525 410 1,167 1,040 1,044 455 1,554 521 1,177 1,748 461 1,311 1,058 590 1,182 1,728 455 1,463 1,571 466 1.234 1,535 497 1,230 1,568 017 1.318 2,113 324 1.748 1,384 1,173 2,001 1,687 1,910 1,817 3,097 Oil 2,925 1,828 707 1.632 2,422 323 1,"~" 1,877 748 1,581 1,446 979 237 1.610 549 1.373 1,717 661 1,461 1,719 078 1,533 1, 13S 1.269 921 230 1,179 1,218 146 1,038 2,424 381 2,346 1,802 794 1,691 1,427 375 1,227 1,497 514 1,433 1,411 430 1.336 2,024 732 2.740 1,001 599 1.541 1,124 122 3,081 1,058 002 1,097 914 030 1,200 003 136 996 560 650 477 625 1,500 1,778 178 2,311 684 1,792 1,793 .179 1,404 2,175 244 1,959 1,263 916 1,218 931 865 334 1,392 897 1,261 2,027 1,714 32! 1,329 542 1,279 1,600 701 1,413 1,730 549 1,037 1,554 577 1,479 1,513 895 1,528 1,763 198 1,823 1,207 1,176 253 234 1,163 234 591 990 1,040 1,435 748 1,427 852 283 271 1,162 250 768 1,108 1,122 1,500 900 1,472 S01 942 1,153 1,221 750 883 987 791 948 1,186 1,614 1,311 1,533 1,248 1,017 I, "" 1,166 1,209 1,345 1,282 1,317 1,314 1,195 1.232 1,618 1.102 1,635 1,769 2,807 1.660 1.897 1,675 931 1,393 1,505 1.473 959 1,207 1,054 2,203 1,521 1,182 1,426 1,330 2,198 1,513 1.061 852 863 905 455 1,417 1,657 1,339 1,844 1,190 790 1,164 1,009 1,175 1,289 1,558 1,280 1,187 1,718 1,084 971 1,635 1,239 1,265 1,39! 1,128 1,439 1,800 1,070 358 340 1,214 284 922 ,263 ,383 ,408 ,103 ,594 108 178 ;287 ,290 817 952 ,033 931 ,074 ,313 ,702 ,455 ,629 ,472 ,046 ,262 ,446 ,361 ,550 ,478 ,490 000 298 1299 724 159 747 861 2,641 :,836 .693 ,781 ,078 ,582 ,724 .583 ,100 .328 ,375 2,243 600 279 622 420 1.223 ,617 135 893 897 640 487 1,471 1,849 1,456 1,866 1,232 850 1,203 3,759 1,180 1,335 3,572 3,261 1,136 1,895 1,166 931 1,869 1,397 1,329 1,457 1,345 1,437 1,900 1,181 411 38S 1,250 303 966, 1,366 1,020 1,388 1,170 1,734 1,207 1,278 1,376 1,351 883 664 1,025 963 1,123 1,403 1,722 1,559 1.S33 1,526 1,085 1,357 3,591 1,492 3,693 1,616 1,614 1,672 1.359 3,350 1,767 1,216 1,810 1,619 3,048 2,009 2,001 1,367 1.1J6 1,644 1,774 1,633 1,220 1,408 1,641 2,257 1.822 1,282 1.601 1.432 2,361 1.705 1,197 632 941 978 536 1,520 1,902 1,544 1,972 1,269 876 1,225 1,774 1,211 1,304 1,590 1,356 1,193 1,799 1,144 1,007 1,851 [,436 1,367 1,463 1,464 t,536 1,900 3,254 1,907 1,517 1,453: 1,576 1,000 1,000 ' , < 2,000 1,900 1,408 1,301 1,292 1^204 725 829 900 737 900 1,143 1,590 1,312 1,505 1,137 950 1,071 1,073 1,132 1,260 1,203 1,310 I, W0 1,106 1,187 1,541 1.060 1,591 1,725 2,742 1,674 1,873 1,464 906 1,334 1.439 1,422 833 1.172 1.060 2,227 1.443 1,339 1.361 1,247 2.510 1,456 1,021 850 816 889 442 3,364 1,596, 1,286 1,891 1,185 809 1,106 1,619 1,189 1,300 1,567 1,330 1,226 1,673 1,084 954 1,577 1,333 1,791 1,300 1,427 1,413 1,399 1,140 1,479 1,455 1,057 1,700 1,526. 1,019 1,3001 1,086 308 1.222 265 852 1.154 3,247 1,414 957 3,558 976, 1,027 1,216 1,253 778 926 1,016 833 988 1,236 1,698 1,385 1,587 1,358 1,043 1,171 1,295 1,277 1.425 1,364 1,381 1,489 1,244 1,281 1,712 1.140 1,663 1,829 2,770 1.759 1,917 1,679 1,021 1,492 1,045 1,515 1,023 1,264 1,092 2.195 1.576 1,259 1.486 1,378 2,039 1.589 1,116 868 878 915 467 1,400 3,813 1,429 1,""" 1,193 828 3,165 1,600 1,163 1,297 1,637 1,: 1,180 3,757 1,163 839 1,730 1,283 1,293 1,425 1,034 1,473 1,800 1,127 1938 1939 1910 1041 1942 1043 1944 1,233 1,269 1,300 .466 1,719 1945 1940 1,966 2,120 2,201 2,357 649 503 415 403 401 983 1,100 1,223 616 473 378 380 057 1,183 910 801 390 1,264 1,278 1,296 1,463 1,683 1, 1,952 1,948 1,952 689 1,012 1,303 1 198 420 326 429 1,700 002 1,161 1,517 1,762 2,150 2,183 2,428 2,667 966 1,679 3,795 2.160 2,499 2,618 £ 6 7 7 367 1, 1,282 513 3,610 1,771 2,015 2,333 2,458 2,551 2,036 1,455 406 1,306 1,460 1,761 2,137 2,520 2,681 2,601 1,315 197 1,235 1,500 1,715 2,115 2,635 2,622 2,631 1,050 084 3,714 1,779 1,934 2,290 2,601 2,761 2,801 1.734 171 1,217 1,375 1,634 1,800 2,089 2,205 2,420 1,132 266 1,330 1,638 2,194 2,506 2.602 2,612 2,581 1.193 363 1,432 1,053 2.023 2,350 2,517 2,525 2,512 1,296 372 1,385 1,472 1,060 1,879' 2,044 2,176 2,392 1,331 916 1,000 1,117 1,240 1,431 1,580 1,693 1,798 870 1,385 1,558 1,681 1,811 2,037 960 926 936 1 026 1,022 1,159 1,330 1,595 1,788 1,944 2,168 999 1,204 956 940 934 1,026 1,514 1,449 1,564 1,617 1,781 138 1,102 1,743 1,892 1,983 414 1,158 1,304 1,850 2,076 2,254 2,363 2,203 1,359 718 1,158 1,646 1,973 2,168 2,376 2,577 2,617 1,097 2,871 1,764 1,852 2,131 2,336 2,608 611 1,621 2,683 852 1,723 1,893 2.410 2,806 3.046 3.092, 2,752 1,863 1,954 2,113 2,116 2,478 2,699 3,180 648 1,467 2,715 038 1,683 1,778 1,450 1,659 1,831 1 — 2,826 1,017 359 1,041 1,236 1,771 2,024 2,174 2,252 2,123 1,393 1,393 1,554 2,284 2,637 2,781 £40 1,359 2,866 2,391 621 1,043 1,923 2,235 2,581 2,724 2,741 2,087 1,402 681 1,594 1,824 2,029 2,857 2,975 2,937 2,710 1,534 601 1,813 2,144 2,287 2.466 2,578 2,604 2,843 1,627 1,919 2.095 667 1, 1, ~ 2,082 3,138 3,209 2.610 762 1,764 2,160 1, 2,978 3,103 2,984 2,951 1,934 2,243 2,796 337 1,274 1,380 1,640 1,882 2,176 2,325 2,406 2,439 365 1,357 1,804 1.665 2,134 1,491 773 1,391 2,024 1.G26 2,494 2,669 2,815 2,392 1,760 221 1,834 1,314 2,254 1,590 1,742 1,014 3,082 1,217 761 1,242 1,805 1,422 2,071 2,203 2,366 2,172 1,762 969 1.764 1,670 1,918 2,131 2,238 2,391 2,567 1,941 1,962 2,806 2.069 3,647 4,176 5,180 2,622 2,039 2,806 2,845 3,040 3,150 2,575 2,808 2,963 5,132 2.177 1,995 2,102 2,114 2,048 2,305 2.353 2,500 2,584 3.115 1,974 1,860 971 1,890 1,075 2,182 2,312 2,500 2,684 2.759 1.121 1 , ~ 1,145 1,108 2,142 1,425 1,544 1.614 2,862 1.676 114 1,754 1,888 3.2391 2,491 2,677 a 732 1,825 1.846 723 1.903 2,035 2,381 2,580 2,709 2,700 2,937 1,674 877 1,700 1,705 2,269 2,288 2,468 2,621 3,049 1,236 701 1.320 1,473 2,018 2,270 2,446 2,554 2,749 1,456 303 1,651 1.G30 1,900 2,155 2,371 2,548 2,511 1.294 521 1,648 1,854 1.863 3,388 3,024 3,583 2,762 2,269 553 2,239 2,258 2,729 2,467 2.743 2,857 3,343 1,609 3,228 2,857 328 1.928 2.296 1.280 930 1,365 £ o 9 9 2J298 2,686 3.092 2,388 3,228 1,67* 269 1.738 1,579 1,780 2,091 2,331 2,416 2.500 1.580 692 1,610 1,766 1.881 2,075 2,243 2,235 2,590 2,467 599 2,651 1,033 1,715 3.878 2.035 3.652 2,411 3.750 127 1,795 2,581 2,714 2,982 3.291 2,599 3,094 3,228 767 1,318 1,870 2,035 2.284 2.467 1,850 2,710 636 240 1,304 1,824 1,778 1,886 1,654 2,000 646 943 049 1,036 1,131 1,337 1,517 1,520 1,312 992 958 900 1,055 i , 2 ' 3 1,330 1,616 967 506 008 1,019 1,054 3,160 1,312 1,631 1,238 1,608 1,829 1,500 520 876 3,080 2,619 1,323 678 533 678 1,810 529 2,520 2,714 2,946 1,552 328 1,025 1,833 2,175 2,462 2,729 2,950 2,009 1,942 603 1,863 1,630 2,160 2,770 2,875 2,500 3,140 1,921 1,270 971 1,607 2,016 2,203 2,250 2,379 1,771 2,066 808 277 1,948 1,267 2,124 1,138 1,599 1,263 3,056 1,305 1,201 1,714 2,044 907 1,263 948 1,008 1,102 1,206 3,209 1,122 923 LOW 206 1,375 1,530 1,228 973 1,228 1,200 1,302 3,063 3,237 1,638 1,833 1,391 234 1,902 2,245 2,611 1,476 1,579 1 "" 3,231 1,625 410 1,241 1,263 1,342 1,433 1,540 2,736' 1.738 1,338 634 1,407 1,382 1,379 2,263 2,510 2.083 1,667 1,193 339, 1,675 1,778 1,902 1,815 1,961 2,106 3,015 1,830 143 1,349 1,362 1,647 1,822 1,983 2,860 2,346 1,135 842 1,139 1,240 1,650 2,622 2,672 1,986 2,424 991 164 1,893 1,968 2,220 1,603 1,629 2,091 1,811 939 1,077 1,111 1,613 1,064 2.282 1,467 820 965 2,270 839 383 1,406 471 3,826 1,870 1, 1,080 2,121 2,119 2,905 1,517 403 3,497 1,523 1,573 1,604 1,795 1,639 2,099 1,333 530 1,436 1,161 1, 1,756 1,725 1,883 2,153 909 1,552 1,574 1,628 1,855 1,985 2,057 578 609 1,000 1,000 000 1,610 1,734 1,866 2,149 2,240 2 1 1 2 2,569 If 255 2,000 2,000 2,100 2,100 2,200 2,400 2,000 1,000 1,297 1,462 1,737 2,023 2,162 2,258 2,359 1,210 K" 1 A v e r a g e a n n u a l earnings p e r fulf-tirao e m p l o y e e or" o b t a i n e d b y d i v i d i n g wages a n d s a l a r i e s , as given I n T a b l e 14, b y t h e n u m b e r of full-time e q u i v a l e n t e m p ' o y e e s , a s given In T a b l e 24. F o o t n o t e s t o T a b l e s 14 a n d 24 a r e , therefore, r e l e v a n t also t o T a b l e 26. F o r a full explanation oi tlie c o n c e p t of " a v e r a g e a n n u a l earnings p e r full-time e m p l o y e e , " see S U R V E Y o r C U R R E N T B U S I N E S S , J u n e 1945, p p . 17-18. July 1947 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS 39 Table 27.—Number of Active Proprietors of Dmneorpotrated Enterprises, by Industry, 1929-46 ' [Data In thousands] 1929 All Industries, total Agriculture, forestry, and fisheries Farms : Agricultural and similar service establishments.. Forestry — -Fisheries Mining— Metal miningAnthracite mining Bituminous and other soft coal . Crude petroleum and natural gas Nonmetallic mining. Contract construction Manufacturing Pood and feindrcd products .. Tobacco manuiactures . Textile-mill products.. Apparel and other finished fabric products. " — • - ■ - ■ • •■ ■■ — • ■ - - * "uefs... Lumber - and timber basloprodUL Furniture and finished lumber products Paper and allied products printing and publishing Chemicals and allied products Leather and leather products . Stone, clay, and class products. Iron and steel and their products Nonfcrrous metals and their products Machinery (except electrical) Electrical machinery Transportation equipment except automobiles Automobiles and automobile equipment Miscellaneous Wholesale and retail trade ... Wholesale trade. Retail trade and auto, services Finance, insurance, and real estate _. Security and commodity brokers, dealers, and exchaoges. Financc, n. e. c Insurance agents and combination offices. BenI estate. Transportation.... Highway passenger transportation Highway height transportation "Water transportation Services allied to transportation Communications and public utilities Telephone and telegraph Hadio broadcasting Local public services, n. c. c Services — Hotels and lodging places Personal services Commercial and trade schools and employment agencies. Business services, n. o. c Misc. repair services and hand trades Motion pictures Amusement and recreation, except motion pictures. Medical and health services Legal services Engineering and other professional services, n, e. e Educational services, u. o. c 1930 1931 1932 1933 1934 1035 1036 1937 1938 1939 1940 1941 1942 1943 1944 1945 1940 10,388 10,480 10,516 10,527 10,555 10,091 10,555 10,477 10,330 10,240 10,119 10,139 10,119 9,900 9,205 9,109 9,320 10,113 5,740 5,834 5,932 6,565 5,«63 5;7o0 135 133 133 4 4 i 33 37 34 2G 24 24 C 6 O 0 "1 6 5 5 9 9 9 4 4 4 822 785 817 92 133 114 *l 38 31 1 2 1 2 2 2 15 21 IS 6 II 10 3 4 5 1 1 I 13 15 15 3 3 4 2 2 2 4 3 5 2 2 2 5 3 4 5 0 0 o 0 0 o 0 0 i 3 4 5 1,916 1,914 1,907 104 105 203, 1,813 1,810 1,892 241 240 238 19 19 19 4 4 4 147 1451 148 70 7Q 70 153 164 361 26 27 28 139 132 134 1 1 1 3 3 3 3 3 3 1 1 1 0 0 0 2 2 2 1,351 1,370 1.307 134 133 131 391 390 375 4 4 4 57 56 51 205 223 242 7 10 11 23 24 23 313 304 319 108 113 I04 47 47 40 03 G O 6,029 6,130 6,231 6,051 5,870 5,088 5,606 5,332 5,242 5.168 5, 5,857 5,954 0,051 142 143 133 4 3 3 33 31 31 35 31 29 12 10 2 2 7 6 6 9 9 10 4 4 4 654 580 737 G O 72 71 26 28 1 1 1 2 1 2 10 11 11 4 4 6 3 3 3 1 1 I II 12 II 2 3 2 1 2 2 2 2 3 3 4 4 0 0 0 0 0 o 0 0 0 3 3 3 1,898 1,899 1,919 106 107 . 113 1,792 1,792 1,806 239 245 237 19 19 19 5 4 4 147 148 145 C O 73 G9 166 107 107 25 22 24 141 137 139 1 1 1 3 3 3 3 3 3 1 1 1 0 0 0 2 2 2 1,355 1,336 1,357 137 135 140 361 347 391 3 3 3 61 59 59 258 259 253 6 5 0 24 24 25 291 268 2S1 116 US 514 48 47 48 53 56 53 5,002 4,929 4,878 5,037 5,871 5,692 6,513 5,333 5,153 5,078 5,004 4,929 4,855 4,780 4,713 4,847 I2G 122 134 152 127 141 111 109 126 131 137 144 2 3 2 2 2 2 3 2 2 4 3 2 36 36 36 36 36 36 34 33 30 36 34 37 38 37 37 41 37 37 38 38 38 36 13 13 13 13 13 13 14 13 13 13 13 13, 2 2 2 2 2 2 I 3 I 2 8 9 1 7 8 8 8 8 8 8 10 10 10 10 10 10 10 10 10 10 10 10 5 5 5 5 6 5 6 5 5 5 5 4 702 708 656 659 462 529 050 608 631 638 697 043 123 130 124 124 103 143 164 99 91 82 133 131 43 43 42, 37 42 36 29, 40, 42 41 24 41 0 1 1 1 0 0 1 1 1 1 0 0 2 2 2 2 2 2 2 3 2 2 3 2 16 13 12 12 16 10 16 16 17 24 II 19 8 II 11 10 10 8 17 8 7 14 13 12 4 6 6 5 5 4 9 4 4 7 7 6 1 I 1 I 1 1 I 1 1 1 1 1 19 19 IS IS IS IS 10 20 15 14 13 18 4 4 3 3 4 3 3 4 2 2 3 2 2 3 4 3 4 3 8 5 4 2 4 2 4 5 4 3 3 4 4 7 3 4 5 4 9 4 4 7 0 1 0 0 0 1 1 o 0 0 I 0 0 1 1 1 1 1 0 1 0 0 9 1 6 4 4 4 4 6 6 6 C 5 8 1,933 1,990 2,047 2,092 2,148 2,179 2,177 2,090 1,344 1,833 1,957 2,206 154 148, 127, 128 154 143 152 171 135 120 118 144 1,815 1,364 1,912 1,949 3,990 2,025 2,023 1,942 1,717 1,705 1.813 2,035 259 285 285 2S6 273 283 268 253 282 306 273 270 19 19 19 19 19 19 19 19 19 18 17 20 5 5 5 5 5 5 5 5 5 5 5 5 152 1C9 169 165' 168 160 157 151 165 184 160 161 92, 92 94 89 87 S3 87 94 97 78 W 90 172 174 176 166 175 193 1S5 179 391 169 176 168 25 23 20 21 21 21 27 26 20 2ft 20 31 157 151 146 135 137 159 145 154 148 143 143 154 2 2 2 2 3 2 2 3 2 2 3 2 3 3 3 3 3 3 3 3 3 3 3 3 3 4, 4 3 3 3 3 4 3 4 4 4 1 1 1 I 1 1 1 1 1 1 1 3 0 1 1 1 0 0 0 1 0 0 1 1 2 2 2 2 2 2 2 2 2 2 1,407 1,418 1,414 1,420 1,420 1,282 1,270 1,331 1,4*7 1,389 149 145 147 135 153 148 160 149 142 118 121 121 392 398 414 387 381 375 379 407 405 394 427 376 3 3 4 4 4 3 3 3 3 2 2 3 06 73 74 72 70 67 63 69 78 80 90 71 232 232 224 242 254 254 256 255 200 233 280 205 7 7 7 7 7 7 7 7 7 7 7 26 31 31 29 27 27 26 25 20 27 28 25 293 292 264 288 288 290 240 2S3 287 247 279 241 120 122 119 12S 128 123 126 124 121 128 118 118 48 49 49 49 52 49 48 50 50 50 50 50 53 53 53 53 53 53 53 53 53 53 53 1 This series measures the number of active proprietors of unincorporated enterprises devoting the major portion of their time to the business. It excludes unpaid family workers but incudes so-called "own-account" wortcrs. Industries in which the number of active proprietors is estimated at less than 500 in ali years are omitted from the tabic. 40 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS Juiyi947 Table 2 8 . — N u m b e r of Persons E n g a g e d i n P r o d u c t i o n , by I n d u s t r y , 1929-46 ' [Data in thousands) 1929 1930 1931 All industries, t o t a l . 1932 1933 1934 1935 1936 1937 1938 1939 1910 1941 1942 1943 1944 1645 1946 4J,633 43,715 40,623 37,183 37,655 40,021 42,20645,301 46,567 44,822 46,157 48,120 52,675 57,423 62,964 64,273 62,732 57,260 8,859 8,804 3,741 3,636 8,069 1,682 8,590 8,634 8,447 8,240 3,020 7.910 7,300 7,738 7,509 7,263 7,098 7,292 Agriculture, forestry, and fisheries 8,550 8,513 3,450 8,355 8,387 5,397 8,300 8,253 8,144 7,953 7,748 7,614 7,536 7,471 7,201 7,007 6,831 6,995 Parma 174 197 187 182 181 187 184 185 215 186 180 ISO 1S2 164 183 185 ISO 139 Agricultural and similar service establishments^. 22 49 56 22 22 24 24 40 41 46 45 45 49 53 Forestry.— 26, 27 &>i 25, 00 57 62 57 55 52 55 57 60 60 60 60 60 60 60 52 Fisheries £6 60 870, 839 956 955 916, 866 929 965 1,013 1,022 370 031 993 897 701 724 857 1,017 Mining 34 00 59 86 113 130 Metal mining. _._. .... 116 131 144 105 132 108 72 145 145 120 102 102 81 100 S3 85 91 105 128 151 144 94 108 101 74 94 93 90 100 Anthracite mining 90 423 397 424 478 424 442 304 478 457 424 447 460 339 379 433 450 464 Bltuminousand other sort coal 483 202 202 163 187 208 215 226 133 173 175 190 157 127 114 Crude petroleum and natural g a s . . 197 200 214 193 84 81 92 94 72 60 59 85 78 96 38 101 78 75 58 74 66 Nonmetalltc mining 106 1,644 1 2,306, 2,183 1, ,460 1,514 1,763 1,733 1,686 1,827 1,941 2,466 2,834 2,092 1,571 1,640 2,334 Contract construction 17,182 15,276 14,036 10,561 9,4123 7,987 6,749 7,276 :,444 3,686, 9,730 10,690 9,234 10,091 11,600 13,265 15,409 17,530 Manufacturing 945 866 964 1,130 1,135 1,253 1,203 1,216 1,265 1,'346 1,427 1,446 1,481 1,470 1,536 1,083 1,058 Food and Kindred products106 101 105 102 96 109 110 112 113 109 109 103 121 147 134 Tobacco manufactures. 108 105 103 908 1,083 ,141 1,198 1,220 1,265 1,094 1,217 1,225 1,385 1,390 1,323 1,210 1,163 1,312 1,264 1,097 1,027 Textile-mill products. 1,065 1,040 1,116 779 793 740 687 604 1,095 1 920 934 1 841 855 820 710 042 Apparel and other finished fabric products. 626 480 698 572 539 593 044 423 467 400 441 367 326 229 274 309 Lumber and timber basic products 510 620 442 375 324 482 427 413 410 333 292 204 450 308 402 346 389 111 466 282 Furniture and finished lumber products— 391 395 449 285 278 2S1 227 245 281 3S1 394 315 290 301 326 302 Paper and allied products 337 370 630 632 661 492 567 669 589 079 595 536, 699 523 568 619 594 460 504 572 Printing and publishing 794 401 360 434 323 372 332 332 293 734 852 197 777 717 417 472 684 386 396 Chemicals and allied products., ..._* ». 123 125 105 121 124 132 131 151 16S 183 136 239 207 222 13S 99 115 97 Products of petroleum and coal 176 142 120 142 154 12(7 146 156 189 124 141 134 110 Rubber products ._ 235 265 189 £24 357 372 346 353 360 377 355 317 301 321 346 377 391 358 409 369 412 404 374 Leather and leather products 462 349 387 477 283 320 359 313 347 373 437 440 418 2,428 204 £06 214 230 Stone, clay, and glass products 919 098 1,149 1,319 1,023 1,159 1,334 1,645 1,963 2,464 859 688 1,219 1,094 760 Iron and steel and their products... 496 2,067 1,754 330 273 512 1,412 225 177 500 461 464 238 332 414 223 252 280 316 259 184 Non ferrous metals and their products 769 676 513 581 376 396 509 Machinery (except electrical) 066 797 1,092 1,309 1,463 1,038 1,333 1,375 668 795 630 519 430 338 385 461 353 399 456 608 332 242 918 847 758 961 3,170 251 319 Electrical machinery 150 147 105 851 186 301 675 1,750 3,272 342 2,019 105 137 171 141 71 101 80 Transportation equipment except automobiles Ml 656 352 299 403 Automobiles and automobile equipment S76 326 502 307, 407 390 433 464 492 530 363 463 544 290 264 274 222 -131 190 224 246 266 530 8,465 495 534 474 305 348 428 Misccilaneous. „ 7,736 7,437 6,959 6,371 6,347 i,877 7,097 7,551 3,664 7,982 8,277 3,658 9,099 3,305 8,413 1,722 8,851 10,433 Wholesale and retat! trade 1,648 1,407 u.« 1,239 1,238 ,360 1,397 1,600 1,648 1,657 1,726 1,780 1,879 1,705 1,081 6,743 1,828 2,161 Wholesale trade 6,1*8 5,940 5,596 5,132 5,109 ^517 5,700 6,051 0,416 6,325 6,551 6,878 7,220 7,010 0,732 1,576 7,023 8,272 Retail trade and automobile services 336 1,616 1,813 1,039 1,684 1,576 1,551 1,490 1,428 1,382 ,412 1,435 1,480 1,536 1,538 1,582 1,631 1 Finance, Insurance, and real e s t a t e . . . 57 350 378 286 288 296 '309 277 385 375 345 311 251 284 319 323 276 285 Banking 83 147 122 107 73 62 55 59 69 77 31 87 102 93 102 103 99 104 Security and com modity brokers, dealers and exchanges.. 134 132 124 92 323 103 112 US 101 36 110 113 109 111 113 119 321 107 Finance, n. e. c.....-.— *.*.—... . . . 281 238 233 352 337 270 339 394 337 343 357 305 319 290 267 273 285 278 Insurance carriers 496 282 329 265 270 266 264 289 278 284 236 289 257 261 263 266 272 277 Insurance agents and combination offices 364 364 365 358 357 381 404 538 497 611 494 2,979 489 614 527 431 451 462 Heal estate 1,616 3,067 3,041 3,035 2; 795 2,444 2,100 2,008 1077 2,102 2,218 2,333 2,073 2,169 2,267 2,443 2,585 2,794 Transportation 188 1,028 1,563 1,845 1,659 1,405 1,156 1,034 ,122 1,113 1,194 1,251 1,061 1,114 1,160 1,285 1,429 1,534 Railroads „ ■IS3 230 203 170 161 207 137 204 100 201 202 214 203 239 Local railways and bus lines 169 184 523 190 184 158 151 143 213 134 Highway passenger transportation 149 174 207 193 227 112 123 136 113 115 115 127 115 381 331 369 355 354 373 307 414 628 540 478 535 444 437 421 541 673 Highway frcigbt transportation 47 168 160 145 207 Water transportation 109 141 136 142 144 147 144 163 131 130 149 150 26 250 3 75 54 46 34 24 19 15 13 12 8 6 6 6 5 4 Airtransport (commoncarriers) 10 134 25 25 391 25 24 23 22 23 20 23 22 2ft 17 21 Pipe-lino transportation 27 25 25 24 176 162 487 136 161 130 136 136 140 119 112 132 96 92 32 83 153 117 Services allied to transportation 949 913 £71 901 956 806 831 787 802 933 l,P3i 1,034 Communications and public utilities 925 1,107 853 901 365 31 451 475 491 353 535 625 400 377 394 423 401 Telephone and telegraph 607 617 ill 463 380 413 334 37 29 28 27 23 21 IS IS 16 13 11 3 9 8 G 4 Radio broadcasting 34 20 392 418 437 423 423 443 454 386 334 465 473 437 Utilities: electric and gas 362 428 373 6,281 423 371 25 25 20 639 23 24 24 24 23 23 26 24 25 24 28 30 30 Local public services, n. e. c 22 6,374 0,214 5,838 5,356 5.194 i,5Q0 5,756 6,067 6,324 6,142 6,307 6,682 6,053 0,697 6,359 1,134 6,371 6,776 Services ^ 622 469 494 518 533 675 543 1,600 650 526 539 556 520 453 403 504 465 417 Hotels and lodging places 994 1.034 1,008 1,010 1,091 1,141 1,168 1,156 910 950 S86 300 996 941 1,008 Personal services 33 1,185 1,329 2,263 2,113 1,891 1,619 1,535 ,731 1,310 1,936 2,051 1,871 2,000 2,120 2,020 1,980 I , — Private households 311 1,549 1,434 18 24 54 234 44 23 19 20 21 22 20 15 14 15 20 22 Commercial and trade schools and employment agencies. 23 25 222 220 324 203 215 242 245 278 282 239 364 203 307 294 221 337 389 Business services, n . e . c 264 281 299 315 312 309 311 288 274 222 313 369 295 300 311 311 314 Misc. repair services and band trades 153 153 147 155 141 211 882 227 238 200 1S1 191 178 179 171 1S4 126 124 Motion pictures 276 258 229 223 227 257 2t9 234 215 233 200 175 190 203 190 159 172 ISO Amusement and Toeteation, except motion pictures 733 732 709 109 913 1,023 842 S03 696 732 766 702 817 786 676 605 680 Medical and health services 194 202 212 319 226 262 223 22! 230 229 233 245 242 244 236 217 210 214 Legal services — 81 76 86 82 73 71 09 84 126 113 196 117 129 90 103 30 77 Engineering and other professional services, n. e. c 287 291 292 312 293 297 304 331 320 194 321 318 323 323 319 286 287 Educational services, n, e. c 198 199 197 191 190 188 189 192 195 17,144 193 183 190 190 195 194 Religious organizations 199 20* 153 169 157 194 13,911 162 142 167 144 147 152 144 146 141 147 201 206 185 Nonprofit organizations. n. e. e 3,194 3,328 3,408 3,371 3,384 ,743 5,043 6,158 5,540 0,164 6,142 0,207 7,303 9,740 14,798 430 17,013 8,897 Government and government enterprises 533 581 562 551 2,991 3,997 6,474 11,598 2,594 13,727 5,376 928 ,406 1.452 3.155 2,467 2,974 2, Federal—general government. 209 300 298 323 33e 343 319 300 373 3S5 399 297: 306 521 463 416 433 150 Federal—government enterprises 5 2,622 2,905 2,247 2,331 2,431 2,419 2,557 ,909 3,145 2,641 2,699 2,69? 2,732 2,745 2,749 2,696 2,613 State and local—general government 154 47,124 154 119 125 126 105 110 99 117 104 110 123 146 158 116 State and local—government enterprises 148 153 3 2 1 1 1 1 1 1 1 5 1 1 0 0 Kest of the world 3 7 42,489 10,397 37, 214 33,816 33,770 36, 177 37,162^9,142 41,920 38,657 40,914 41,851 45,369 47,678 43,149 Addendum: Ail private industries. 45,710 43,300 ,m i This series measures man-years of tuB-time employment by persons working for wages or salaries and by active proprietors of unincorporated enterprises. "Persons engaged" fallssbort of total man-years of lull-time employment because of the exclusion Irom t h e data of unpaid family workers. This exclusion is due to unresolved difficulties in their defini tion and measurement. Table 28 is obtained by addition of tables 24 and 27; footnotes to those tables are, therefore, relevant also to table 28. JW1947 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS 41 T a b l e 29.—Corporate Sales, by I n d u s t r y , 1929-46 > s [Millions of dollars] 1929 1030 mi 1032 1933 1934 1935 1936 1037 1839 1038 1941 1940 1042 1943 1944 IMS 1946 All industries, total, excluding finance, insurance, and real estate i . - . - * . 138,640 118,29. 93,305 09, IBS 73,027 80,653 101,053 119,402 12$, 884 108,561 120,789 135,243 176,181 202,777 233,525 244,342 237,303 245,508 Agriculture, forestry, and fisheries Farms Forestry Fisheries Mining Matnl mining Anthracite mln tag Bituminous and otner sort coal... Crude petroleum and natural gas. Nonmetallie mining,* ........ ■Contract construction Manufacturin B Food and kindred products Tobacco manufactures-* Textile-mill products Apparel and other finishedfebrlcproducts. Lumber and timber basic products Furniture and finished lumber products.. Papw and allied products Printing and publisning Chemicals and allied products.. Products of petroleum and coal. Rubber products Leather and leather products... Stone, clay, and class products.. Iron and steel and their products.. Nonferrous metals and their products Machinery (except electrical) Electrical machinery Transportation equipment except auto mobiles _ _ Automobiles and automobile equipment.. Miscellaneous Wholesale and retail t r a d e . — Wholesale trade Retail trade and auto, services Transportation Railroads . Local railways and buslines Highway passenger transportation Highway freight transportation Water transportation.-— J Air transportation (common carriers) Pipe-line transportation Services allied to transportation Communications and public utilities Telephone and telegraph Radio broadcasting Utilities: electric and gas. Local public services, n. e. e Services Hotels and lodging places Personal services Commercial and trade schools and employe ment agencies Business services, n. e. 0 Misc. repair services and hand tiades Motion pictures Amusement and recreation, except motion pictures 731 657 27 47 3,700 1,357 300 937 871 435 2,302 70,305 13,279 1,254 5,565 2,553 1,485 1,308 1,732 2,777 4,025 5,005 1,355 1,715 1,610 8,254 2,064 4,531 1,689 522 413 319 469 444 314 302 468 380 12 9 9 6 20 16 15 11 21 34 2,707 2,052 1,511 1,817 2,293 238 728 448 375 375 203 327 251 25? 258 591 442 491 634 S2S 769 516 897 408 470 182 185 278 38S 217 962 1,110 2,789 2,035 1,290 58,484 42,759 30,995 34,303 40,131 11,822 9,212 7,142 7,744 9,266 1,151 1,167 1,025 927 1,046 4,179 3.383 2,456 3,074 3,402 2,144 1,836 1,366 1,516 1,734 622 1,052 504 330 456 712 45S1 627 932 590 966 1,126 1,235 1,515 1,221 2,562 2,213 1.727 1,594 1,804 4,878 2,770 2,170 2,251 2,726 5,70S 4,131 3,951 3,794 3,620 682 595 665 771 1,042 974 1,022 1,368 1,092 828 819 701 651 1,380 1,013 6.S5G 3,716 1,986 2,574 3,170 940 1,984 1,378 1,585 3,498 2,295 1,343 1,458 1,1 532 536 764 913 1,327 60S 711 0,091 3,869 2,033 1,612 43, .03 36,897 29,747 17,621 22,361 10,276 9,688 8,453 6,033 5,840 794 86/ 247 245 613 470 34 350 170 4,994 1,850 •172 2,851 115 3,312 628 408 44 318 174 5,232 1,851 125 3,136 120 3,210 395 195 310 731 1,411 2,134 2,362 915 1,007 264 877 242 22,903 23,978 32,813 787 10,398 II, 166 17,731 455 12,505 12,812 15.032 985 5,525 5,470 6,139 737 3,584 3,620 3,702 551 636 658 609 130 222 178 245 497 543 559 461 339 859 308 350 59 67 32 61 175 248 216 190 138 155 125 162 ,067 4,485 4,222 4,251 ,660 1,376 1,229 1,112 92, 79, 06 130 1,129 2,S73 2,770 2,947 131 113 140 1,937 148 ;8I2 2,157 321 2,347 489 390 394 557 440 442 609 477 12 20 3,413 504 225 623 536 16 27 2,836 671 241 677 628 18 31 3,295 939 209 889 345 909 806 289 273 225 1,334 1,793 2,203 46,782 55,959 61,459 10,401 ll,r~" 12,542 1,CS9 1,200 1,233 3,015 4,445 4,471 3,026 2,296 3,234 90S 830 637 077 931 638 1,459 1,687 1,846 1,963 2,105 2,363 3,119 3,783 4,038 3,952 4,419 5,f 903 1,039 730 1,153 1,270 1,319 989 1,345 1,502 3,952 5,462 6,518 1,797 2,230 2,693 2,419 3,358 4,144 923 1,263 1,554 729 730 322 4,056 1,202 555 4,703 1,249 37,417 43,145 20,470 23,771 824 4,639 1,369 45,333 24,391 20,992 7,683 4,630 668 341 73(1 703 16,938 19,374 6,453 7,319 3,853 4,511 095 673 306 275 692 619 627 599 44 63 52 375 344 219 217 192 171 4,401 4,782 5,037 1,173 1,266 1,337 123 95 110 3,111 3,283 3,468 110 117 113 2,554 3,000 3,142 573 531 455 614 549 491 679 672 601 643 228 600 63 749 219 641 61 824 173 620 50 836 142 414 39 611 183 387 36 546 173 501 48 642 18S 550 62 654 225 255 221 182 135 120 148 164 62 797 139 593. 2,731 70S 566 14 23 3,114 973, 222 920 727 272 2,473 65,755 12,372 1,415 4,207 2,509 1,071 104 197 784 685 70* 895 261 219 1,926 2,203 50,031 57,169 11,615 11,377 1,291 1,319 3,210 3,369 2,114 2,342 905 740 1,020 1,224 1,339 1,512 1,747 2,023 2,163 2,220 2,369 3,657 4,251 4,764 4,956 5,254 5,523 852 1,060 1,153 1,130 1,230 1,287 1,206 1,486 1,682 4,282 5,974 7,549 1,240 1,617 1,1 3,606 3,403 4,563 1,565 1,344 2,462 940 1,035 939 399 17 15 29 26 3,863 4,071 4,519 582 643 752 1,095 1,260, 318 431 379 303 256, 354 323 1,167 1,271 1,417 1,676 1,793 1,985 903 1,075 302 636 851 648 395 354 446 373 360 373 3,452 4,643 4,219 3,1.01 3,287 4,893 92,023 116,278 142,020 148,549 137,818 125.904 15,767 20,602 22,373 23,716 23,193 24,979 1,581 1,1 2,101 2,145 2,278 2,923 6,063 7,616 8,011 7,634 7,657 9,426 3,379 3,961 4,115 3,955 3,348 5,152 1,505 1,710 1,659 1,641 1,528 1,906 1,797 1,881 1,936 2,004 1,830 2,209 2,791 2,877 3,268 3,484 3,571 4,382 2,577 2,663 3,096 3,449 3,604 4,510 0,437 7,205 8,612 9,904 10,736 11,326 6,669 7,478 8,800 9,860 9,771 9,878 I, 1 '"" 1,883 2,900 3,336 3,329 3,159 1,780 2,112 2,075 2,060 2,085 2,177 2,283 2,298 2,352 2,293 2,442 3,001 11,756 16,333 20,534 20,842 18,695 14,825 2,882 3,167 4,286 4,406 3,970 3,684 ,7222 9,43" 10,732 11,022 9,907 7,153 3,747 5,022 6,535 7, 7,245 4,354 763 713 727 663 21 16 20 33 3,723 3,866 857 1,503 3,924 12,271 624 2,915 3,577 4,701 6,555 3,990 894 1,023 1,156 1,624 1,982 38,575 42,262 46,633 57,031 55,134 19,577 21.314 23,532 29,767 29,026 13,998 20,948 23,196 27,374 26,158 6,632 7,364 7,760 9,626 11,527 4,133 4,632 4,722 5,840 7,387 497 431 503 464 430 635 341 327 299 421 793 1,006 1,061 728 653 729 832 1,047 664 586 Z91 137 131 88 65 236 318 293 260 257 291 271 226 201 131 4,937 5,161 6,352 5,806 6,259 1,336 1.401 1,364 1,495 1,341 1£2 123 181 161 130 3,360 3,605 3,708 4,007 4,132 104 123 119 119 IIS 3,235 3,327 3,539 3,853 4,253 715 668 603 565 644 724 653 622 803 600 232 676 64 765 218 657 577 523 IS 31 571 522 17 32 2,594 326 737 15 24 3,579 848 15 21 22,322 22,322 16,710 3,963 3,714 2,782 2,589 2,775 2,450 57,616 30,306 27,316 13,661 9,610 602 304 1,160 680 223 243 339 6,775 3,064 234 4,308 109 4,820 396 358 61,160 32,39: 28,703 14,267 10,004 615 838 1,183, 727 263 . 262 380 316 1,169 169 1,531 316 1,422 203 1,304 353 476 887 330 812 128 1,149 1,337 421 1,048 101 1,506 196 332 267 266 264 310 61 388 8,034 7,580 2,385 334 4,759 108 5,621 251 849 93 1,004 426 911 148 333 7,262 3,183 307 4,661 106 5,316 004 906 252 789 61 949 255 728 62 253 683 2,417 6,534 1,904 64,155 31,489 34,017 42,621 30,138 38,903 13,825 12,953 9,434 8,036 624 631 843 833 1,219, 1,343 727 351 516 238 244 1,033 995 2,635 357 4,930 112 6,676 1,233 1,222 1 Corporate sales have been adjusted to exclude amounts subsequently recaptured by tbe Government by renegotiation o( war contracts. See table 17, footnote l, for discussion of.discontinuities in the industrial detail. J Industries In which there are no corporations organized (or profit, or In which corporate sales are ol negligible amounts, are omitted from this table. ' ' E x c l u d e s industrial division ol finance, Insurance, and real estate. " - - • " ... Presentation of sales data .for these industries would be misleading in view of the largo part of their receipts which Is in the form of property income. T a b l e 30.—Personal C o n s u m p t i o n Expenditures b y T y p e of P r o d u c t , 1929-46 • [Millions of dollars) Group [. F o o d ' and tobacco 1. Food purchased for ofl.premise consump tion J (ndc) —. 2. Purchased meals and beverages^ a. Retail, service, and amusement es tablishments (ndc). b. Hotels (ndc) c Dining and buffet cars (ndc) d. Schools and selool fraternities (ndc). e. Institutions, clubs, and industrial lunchrooms (ndc) f. Tips (ndc).. g. Less: nonoonsumer purchases in cluded In lines a-f (ndc) 3. Food furnished government (including military) and commercial employees, and withdrawn by nonfarm proprietors (nde)_ 4. Food produced and consumed on farms (ndc) 5. Tobacco products and smoking supplies (ndo) See footnotes a t end of table. 1920 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1041 1942 1943 1944 1945 1946 21,374 19,519 10,272 12,719 12,777 15,636 17,693 20,030 31,629 20.662 21,072 22,600 26,476 32,842 38,090 41,564 46,740 65,086 14.520 13,255 10,633 8,033 8,467 10,576 11,960 13,734 14,589 13,889 13,970 15,020 17.441 21,570 23,871 25,570 28,264 35,448 3,055 2,892 2,500 2,116 1,334 2,332 2,674 3,064 3,583 3,446 3,743 4,094 4,983 6,206 7,354 3,877 10,536 12,217 2,415 2,307 2,130 1,775 1,519 1,927 2,228 2,550 3,047 2,947 3,254 3,581 4,440 5,706 301 330 22S 322 359 416 447 396 363 420 435 459 602 686 30 23 14 20 35 12 15 16 21 22 24 23 30 62 82 90 75 76 84 99 71 97 102 109 118 7,423 753 92 123 8,651 10,000 373 066 98 93 120 125 269 110 244 104 ISO 92 121 70 96 64 105 83 117 95 128 103 145 120 130 121 124 131 132 144 152 174 137 224 225 292 222 338 248 336 258 244 218 178 163 196 235 358 303 291 317 347 424 676 1,054 1,426 1,287 514 490 398 330 324 366 404 431 474 440 441 475 635 1,193 1,959 2,703 3,050 1,660 1.585 1,428 1,158 015 926 992 1,217 1,371 1,304 1,184 1,134 1,127 1,204 1,573 1,897 1,905 2,021 2,350 1,700 1,454 1,493 1,325 1,236 1,376 1,438 1,840 1,679 1,703 1,773 1,875 2,073 2,300 2,509 2,509 2,869 3,41* « NATIONAL INCOME SUPPLEMENT TO SURVEY O F CURRENT BUSINESS 42 j«iy 194T T a b l e 30.—Personal C o n s u m p t i o n E x p e n d i t u r e s b y T y p e o f P r o d u c t , 1929-46 "—Continued IF; [Millions ol dollars] 1929 Qroup n . Clothing, accessories. and jewelry ^.. 2. Shoe cleaning and repair (ndc). .„,__ . 3. C l o t h i n g a n d accessories except footwear (ndc) 4. Standard clothing issued to military personnel (ride) 5. F o r storage and repair (s) 6. Cleaning, dyeing, pressing, alteration, storage, and repair of garments n . e. c. (In shops) (s) 7. Dressmakers and seamstresses (not in shops) <s) 8. Laundering in establishments (s) 9. Costume and dress suit rental (si 10. Net purchases from second-hand clothing dealers (s). . 11. M i s c e l l a n e o u s p e r s o n a l services (s) 12. Jewelry and watches (do) 13. W a t c h , clock, a n d J e w e l r y r e p a i r s (a) III. Personal care 1. Toilet articles and preparations (ndc) 2, Barber shop services (s) 3. Beauty parlor services (s) 4, Batbsand masseurs (s) IV. Housing l . Owner-occupied nontarm dwellings—spacerental v a l u e ' (s) 3. Tenant-occupied nonfarm dwellings {ineluding lodging houses)—space rent t (s). 3, R e n t a l value of farm h o u s e s (s) 4. Transient hotels and tourist cabins (s) 6. Clubs, schools, and Institutions (s) V. Household operation 1. Furniture (do) 2. F l o o r coverings (dc) 3. Refrigerators, and washingand sewing ma chines We) 4. Miscellaneous electrical a p p l i a n c e s except r a d i o s (do) — 5. Cooking and portable heating equipment (dc) 7. Durable house furnishings, n. e. c. (dc) 8. Products of custom establishments, n- e. e. (dc) 9. Writing equipment (dc)— 10. Net purchases from second-hand furniture and antique dealers ( s ) . . . 11. TJpaoJstcry and furniture repair (s) 12. Rug, drapery, and mattress cleaning and repair (s)-... , -... 13. C a r e of electrical e q u i p m e n t except r a d i o s a n d of s t o v e s (s) 14. Scmidurablc house furnishings (ndc) 16. Lighting supplies ( n d c ) . . . 10, Cleaning and polishing preparations (ndc). products 15. Stationery and writing supplies (ndc) 19, F u e l except gas a n d ice a. P u r c h a s e d (ndc) b , P r o d u c e d a n d c o n s u m e d o n farms (ndc) 20, H o u s e h o l d u t i l i t i e s a. E l e c t r i c i t y (s) b. Gas (s) c Water (s) 21, 22, 23, 24, 25, 24, 1932 1,875 1,376 1,207 1,022 100 114 141 164 1933 1934 1935 1930 T e l e p h o n e (s) T e l e g r a p h , c a b l e , a n d wireless (s) P o s t a g e (s> E x p r e s s charges (s) M o v i n g expenses a n d w a r e h o u s i n g (s) D o m e s t i c service ( e x c l u d i n g practical nurses)._ a. Cash payments (s) b . V a l u e of m e a l s f u r n i s h e d (s) 27, Fire and theft insurance on personal prop. arty—net p a y m e n t s ' (s) 28, M i s c e l l a n e o u s h o u s e h o l d o p e r a t i o n services <s> _ VI. Medical care and death expenses. 1. Drug preparations and sundries (ndc) 2. Ophthalmic products and orthopedic ap pliances (de) 3. Physicians (s) 4. D e n t i s t s (s) 5. Osteopathic physicians (s) 6. C h i r o p r a c t o r s (s) 7. Chiropodists and podiatrists 1(s) 8. Private duty trained nurses (s) 9. Practical nurses and midwivc3 t ( s ) „ 10. Miscellaneous curative and healing profes sions (s)_ 11. P r i v a t e l y controlled h o s p i t a l s and sani t a r i u m s ' (s) 12. Net payments to group hospitalization and hoalth associations* (s) 1938 1939 1940 1941 1942 887 1,072 1,031 1,145 1,279 1,257 1,226 1,270 1,486 1,861 179 127 102 118 113 • 122 106 144 114 12 25 II 21 44 8 309 £8 50 453 475 3 9 17 12 20 13 23 14 25 22, 26 54 28 210 34 750 13 10 12 360 366 371 409 479 323 30 308 3 33 312 3 35 329 3 30 374 3 335 240 220 252 2S5 319 362 3 27 310 2 24 252 2 27 262 2 28 272 2 31 304 3 1913 1944 1045 14. Accident and health insurance—not pay. meats Ks) 15. Mutual accident and side benefit associa tions—net paynvsnts' (s) 16. Funeral and burial service (s) 17. Cemeteries and crematories (s) 13. Monuments and tombstones (dc) Sec footnotes a t end of t a b l e . 1,920 256 2,019 256 2,293 256 1946 2,332203: I, 1.327 42 1,673 45 649 604 645 671 42 420 4 43 53 462 3 59 4S4 49047 5 5 10 II 513 560 73 S O 1,116 1,039 515 591 6 5 4 4 4 4 5 6 13 10 8 7 6 19 16 17 11 8 5 8 e 205 1,196 723 547 406 355 323 233 198 172 323 041 1,012 252 38 106 S4 70 65 49 44 38 36 26 53 116 103 46 39 804 951 1,604 1,107 1,203 1,400 1,887 362 760 2,098 1, 961 660 979 817 395 486 442 377 961 1,074 711 592 510 428 374 320 504 851 420 246 252 254 426 332 295 272 230 221 213 310 349 289 3 JO 468 309 253 217 243 347 253 192 122, 168 107, 299 167 541 431 312 167 425 138 7 7 8 IS 14 10 9 5 5 81 9 0 T 8 6 12 8,378 8,733 8,940 9,217 0,803 10,678 11,035 11,661 12, U 7 11,421 10,092 10,235 8,904 7,849 7,538 7,597 7,5 5,858 5,581 5,127 4,449 3,805 3,602 3,665 3,778 3,960 4,124 4,200 4,326 4,665 5, OSS 5,471 5,045 6,404 (?) 767* 564. (<) (') (') 1.4072,321 1,164- ?> * L 12,090> 6,362: 4,312 4,535 4,572 4,591 4,608 4,488; i, 4,445 4,346 4,139 3,K>1 3,244 3,009 3,142 3,295 3,569 3,773 3, 702 820 755 619 624 620 638 016 616 587 655 754 330 BIB 829 339 668 978, 127 109 107 103 103 72 74 S7 113 124 IS4 163 151 116 91 79 04 119 116 113 108 104 118 122 152 142 120 122 89 80 130 103 95 125 W ™ 10,509 9,378 8,264 6,675 6,390 7,107 7,604 8,660 9,340 8,732 9.461 10,292 11,724 12,235 12,550 13,317 14,484 18,000 809 486 904 767 006 931 1,044 1,295 1,263 1,217 1,302 1,550 2,170 495 442 830 648 3,167 321 232 553 382 338 356 540 513 383 417 238 535 485 335 273 841 (') 208 171 239 132 121 103 55 2SS 241 104 118 104 511 442 43$ 429 353 490 269 364 220 319 373 439 321 382 422 557 312 113 137 154 167 174 107, 254 139 182 223 252 223 265, 354 177 l 211 404 265 407 262 456 345 515 392 472 383 517 457 033 546 670 602 74 348 280 475 421 24 62 21 47 14 31 13 26 16 30 IS 74 22 43 23 47 21 44 24 45 26 53 32 77 34 24 32 23 29 23 23 22 30 22, 19 26 18 30 18 34 19 39 18 44 18i 43 18 53 20 18 10 10 13 16 18 29 20 26 22 26 20 799 86 359 It 632 76 356 18 547 71 309 13 441 76 222 17 512 36 209 22 536 93 265 24 650 98 299 27 724 97 334 29 C41 80 353 32 780 SO 359 36 811 97 363 252, 153 633 15 408 70 227 34 48 276, 1,241 671 847 1,32? S00 924 1,257 20 76 747 191 57 20 80 30 32 35 35 49 950 1,083 134 123 420 378 62 1,249 73 1,356 68 1,387 080 646 711 W 1%* 108 70 71 62 49 44 34 81 53 66 38 216 102 191 149 129 131 112 101 87 60 71 1,553 1,707 1,946 1,152, 1,263 1,281 1,411 1,417 1,311 1,,138 1,443 1,601 1,835 ,045 1,055 1,105 1,177 1,308 1,311 1,212 1 / 255 2,112 1,903 314 2,123 1,— 362 2,225 2,103 378 2,243 2,127 111 106 105 110 93 103 104 106 97 96 109 114 1,397 1,476 1,484 1,430 1,374 1,427 1,408 1,519 1,574 1,812 1,680 1,785 1,861 1,062 919 726 671 349 766 660 906 1,010 697 810 045 062 674 616 520 694 687 634 544 631 634 528 51t 504 544 567 562 548 273 252 291 237 274 277 260 226 233 29E 312 248 348 233 407 428 568 633 511 487 443 444 490 551 614 705 536 543 11 10 13 12 11 11 19 9 0 14 IE IS 12 10 100 84 117 109 103 100 70 79 S3 13C 152 80 72 34 16 14 17 16 16 16 14 14 12 24 19 24 20 29 64 01 72 SO 75 76 02 65 79 90 100 OS 100 89 119 2,032 1,043 668 321 776 21 191 31 125 126 2,155 1,123 696 336 825 22 240 36 148 122 2,274 1,198 729 347 865 23 276 30 160 121 2,395 1,275 70S 354 063 1,501 1,299 1,003 822 1,225 1,053 18t 240 270 731 001 130 044 524 120 740 699 150 037 169 1,416 1,199 217 1,828 1,— 200 1,836 10 13 IS1 IS 20 1,65 1,457 203 4 29 28 5,441 1,' 23 5,754 1,140 6,447 1,335 343 395 43 44 44 133 103 143 1.60$ 1,542 1,318 1,494 1,433 1,222 397 1,048 715 347 201 182 910 738 172 23 20 905 1,081 1,118 1,285 390 817 016 1,056 191 178 199 229 251 26 28 26 27 25 24 25 25 23 22 23 24 24 25 24 26 3,620 3,447 3,070 2,575 2,397 2,013 2,702 3,018 3,228 3,209 3,380 3,591 3,961 4,501 640 612 553 427 678 503 568 517 440 694 725 S49 474 28 24 20 19 22 2S 228 255 091 5,130 545 468 70 57 45 39 22 IS 5S 62 60 57 5,1 1,008 324 31 133 924 463 33 46 IB 104 74 11 810 40S 34 40 17 S3 56 27 20 22 16 14 16 17 17 15 16 IS 10 22 24 25 403 395 386 363 40S 422 454 467 492 527 555 613 093 778 3 2 10 2, 16 2 27 2, 30 2 44 2 46 2 78 87 99 104 116 126 141 164 182 211 16 259 146 74 19 272 151 70 22 283 147 08 26 272 162 69 22 234 159 72 25 310 168 36 33 340 161 92 380 178 106 41 417 176 121 48 464 177 133 w 0) 250 13 241 133 00 8 805, 1 2 (*> h (') 25 404 131 958 432 41 49 20 113 80 001 312 27 30 14 67 41 92 617 276 26 20 13 50 34 124 678 296 28 20 13 03 30 C O 131 731 392 30 26 14 64 40 C) 13. S t u d e n t fees for m e d i c a l care (s) 1937 7,502 0,510 5,006 3,048 3,053 4,497 4,S96 5,206 5,414 5,376 5,770 6,061 7,085 8,508 10,574 11,675 13.210 15,630- 0. C h i n a , glassware, t a b l e w a r e , a n d u t e n s i l s (dc) , 17, Miscellaneous h o u s e h o l d p a p e r (ndc) 1931 11,018 9,676 8,115 5,973 5,365 6,479 6,923 7,558 7,964 7,876 3,200 8,791 10,483 13,170 16,279 17,972 20,054 22,163: _ 1. Sfioes a n d o t h e r f o o t w e a r (ndc) 1930 90 103 111 77 00 56 IS 201 ISO 97 13 2S4 137 30 10 238 128 51 12 214 120 46 12 225 128 57, 140 820 331 33 32 15 68 40 165 854 350 36 33 15 07 52 157 833 356 40 33, 14 61 43 172 866 380 43 34 15 50 45 187 913 419 17 36 17 68 43 209 1,213 606 74 48 22 07 1,203 631 79 51 24 75 SO. 1,33C 662 SI 52 24 2,633 B C 8S 1,320 515 180 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS J u l y 1947 43 T a b l e $0.—Personal C o n s u m p t i o n E x p e n d i t u r e s b y T y p e o f P r o d u c t , 1929-46 ' — C o n t i n u e d [ M i l l i o n s of dollars] Group 1929 1930 1931 1932 1933 1034 1935 1926 1937 Vir. Personal business . . . 5,231 4,144 1. Miners' expenditures for explosives, lamps, 15 and smithing (ndc) 48 2. T o o l s (dc) „ 11 3. Theatrical employment agency fees (s) 14 4. Non theatrics) employment agency fees (s).. 38 5. Net payments to labor unions* (s) 9. Employees' dues and fees to professional associations (s) 7. Brokerage charges and interest, and invest' 764 ment counseling (s) 1,739 8. Trust services of banks (s) 44 42 9. Bank service charges for deposit accounts, 11 check collection, and foreign exchange (s)„ 19 24 10. Safety-deposit b o x r e n t a l (s) 24 15 11. M o n e y - o r d e r fees ( s ) . . 16 12. Services furnished without payment by financial intermediaries except insurance companies (s) 1,378 1,141 13. Expense of handling life insurance w 965 930 6. Life insurance companies (s) 913 b. Fraternal and assessment associa tions (s) . 47 52 14. l e g a l services (s) 397 402 627, 15. Interest en personal debt is) £77, IS, Classified advertisements (s) 30 31 17. Net purchases from pawnbrokers and mis cellaneous second-band stores (s) ., 16 17 18, Personal business services n. e. c. (s) 13 14 V I I I , Transportation . 7,496 6,061 1. User-operated transportation..,.. . 5,748 4,4% a. N e w c a i s a n d n e t purchases of use d c a r s (do) b. Tiros and tubes (do) c . P a r t s a n d accessories (dc) d. Automobile repair, greasiag, wash ing, parking, storage, and rental (s) e. Gasoline a n d oil (ndc) f. Bridge, tunnel, ferry, and tolls (s) g. Automobilo Insurance—net ments' (s).. 2. Purchased local transportation a. Street and electric railway and bus (s) b. To^icao—fares and tips (s) c. Bieom railway—commutation road pay local (s)_.„ d . Ferry—foot passengers (s) 3. Purchased intercity transportation a. Steam railway (excluding commuta tion) (s)..„ b. Sleeping and parlor car—faros and tips (s) ; c. Intercity bns (s)._ d. Airline (s) e. Coastal and inland watenray (s) 3,595 3,111 3,053 3,106 3,304 10 24 9 7 26 7 16 8 3 G 3,S8S 4,05 2 4,174 3,845 277 f. Professional h o c k e y (s) g. n. i. {. Horset and dog race tracts (s) College football (s) Other amateur spectator sports (s)—. Ticket brokers, mark-up on admis sions (s) , k. Purchase of programs (s) 2. Pari-mutuel net receipts (s) 3. N o n v e n d i n g coin machines—receipts m i n u s payoff ( s ) . pacifier" 4 . Specified commercial participant amusements. a. Billtardpjirlors and bowlingalleysfs). b. Dancing, riding, shooting, skating and swimming places (s) o. Amusement devices and parks (s)_.. d . D a i l y fee golfcourses—greens fees ( s ) . 5,213 20 11 241 118 51 206 54 211 53 292 62 91 31 33 103 35 40 106 39 1,337 1,234 1,192 1,*00 1,336 1,345 1,460 1,394, 313 207 195 154 53 60 51 52 131 53 21 24 16 23 24 18, 41 20 19, 49 19 20 54 19 21 62 18 21 65 19 21 71 19 22 78 20 26 113 63 W TO W TO IE 15 1,017 947 901 8951 767 942 896 37 348 503 23 46 334 466 20 46 410 571 28 872 932 876 818 317 793 843 792 981 1,095 1,113 1,192 1,177 1,197 045 1,049 1,074 1,148 1,137 1,152 359 489 21 46 371 520 24 39 383 614 27 44 402 40 392 45 407 29 27 26 904 852! 792 1,238 1,271 1,254 1,189 1,222 1,213 49 423 781 28 636 139 118 43 42 44 80 769 99 799 124 855 772 298 73 10 422 7(18 152 64 11 324 024 109 53 8 252 573 96 46 8 224 626 119 45 9 245 674 127 44 10 313 153 139 161 17 43 3 26 15 46 3 17 IS 44 4 22 300 25 50 2 111 45 8 243 421 402 462 44 137 882 684 145 42 42 124 348 46 II 345 327 142 885 631 153 41 7 343 138 18 62 C 20 489 208 188 194 22 72 8 23, 24 78 8 22 141 41 22 92 11 22 50 155 913 714 153 40 e 353 193 21 97 18 20 21 It I 2 2 20 13 23 13 1 2 6 25 16 24 15 2 3 7 27 16 1 1 1 2 19 1 2 26 14 133 41 22 141 44 34 165 67 52 194 73 21 11 13 21 12 14 2G 14 14 31 17 15 (<) ?> TO 1,407 TO TO 64 587 449 33 23, 5,229 2,437 25, 5,510 2,568 309 28 245 278 341 256 429 290 611 2,415 1,211 457 577 2,628 1,903 444, 1,1*8 496 1,206 560 1,614 TO 2,951 779 1,024 1,508 1,921 1,983 1,228 1,679 2,228 2,708 154 313 176, 193 237 257 182 175 167 117 316 238 185 220 243 181 220 153 2,143 2,145 2,181 2,254 218 <«) 53 552 430 36 16 49 450 387 29 51 521 670, 31 15 9 13 10 11 12 13 14 9 II 11 20 16 12 13 12 13 14 11 10 8 8 4,928 3,924 3 , 9 2 9 4,514 5,179 6.044 6,432 5,549 6,250 7,007 8 241 5,170 3,617 2,339 2,940 3,474 4,102 4,825 6,147 4,318 4,967 5,686 6,777 3,127 76 723 57 17 TO W IS <*} 25, TO 6,329 10,362 3,281 7,627 44 34 35 41 173 130 985 1,309 142 1,647 146 1,730 265 1,750 760 177 41 7 409 989 261 53 6 643 1,231 353 56 1,314 372 1,632 1,297 370 57 6 209 338 616 604 637 23 126 23 23 31 228 22 17 40 317 24 IS 50 368 32 23 46 376 54 21 II 12 113 123 4,664 5,131 1,174 1,256 987 1,025 12 143 5,783 1.393 1,125 84 •i l,i 82 608. TO 34 58 6 I , HO TO (0 1,880 <"} 8 a. m ? w TO w 192 7,942 1,683 29 20 2 3 12, 37 19 30 22 3 3 11 37 20 32 20 3 3 12 37 20 35 21 3 4 13 39 22 39 IS 2 4 12 31 20 42 14 2 3 11 26 16 2 3 44 2 2 2 2 2 2 65 2, 2 a 55 164 68 183 70 189 70 210 197 67 82 79 102 202 83 131 121 224 S3 13 16 27 15 17 28 16 18 33 19 19 33 IS 17 36 20, 16 48 22 20 54 24 22 i 41 46 43 41 43 41 51 44 43 45 46 2 3 2 3 5 6 b 4 5 6 2 6 4 7 5 4 8 6 0 5 5 6 6 6 1,744 1,255 1,114 1,240 1,345 1,556 1,765 1,693 1,857 2,938 2,367 2,550 162 250 149 160 239 227 222 217 179 265 247 204 44 1 2 2,471 346 48 61 8 33 17 1 3 2 22 IS 1 3 2 22 18 30 14 1 3 2, 20 15 4 2 2 2 1 2 6 175 29 23 12 132 39 I2t 34 18 10 12 **, 13 e. Golf instruction, club rental, and caddy tecs ( s ) . . . 70 78 3 3 t. Sightseeing busses end guides (s) 9 g. Private flying operations (s) 9 5, Informal recreation. . . . . . . . 2,546 2,273 307 261 a. Books and maps (dc) b. Magazines, newspapers, and sheet music (nde) 538 512, 2 c Book rental and repair (s) 3 d. Nondurable toys and sport supplies 2B1 336 (ndc) 0. Wheel goods, durable toys, and sport 132 145 equipment (dc) 24 14 f. B o a t s a n d p l e a s u r e aircraft (dc) g. Boat and bicyole rental, storage, 9 and repair (s) h . Radios, phonographs, parts, and records (dc) 905 849 1. Pianos and other musical Instru 107 SI ments (dc) 27 26, J. Hadiorepairfs) 11 13 k. Photo developing and printing ( s ) . . . 53 1. Photographic studios (s) 00 m. Collectors' not acquisitions of stamps and coins <s) See footnotes a t e n d oC table. 4,853 20 9 261 322 48 42 30 16 13 4,514 03 IS II 205 245 43 82 794 6 £03 57 IMG IS 50 14 14 211 243 46 43 8 207 53 1945 14 51 12 13 178, 378 34 76 932 32 17 1944 12, 41 12 9 160 17 22 f. Baggage transfer, carriage, s t o r a g e , 4 4 4 5 S 12 a n d excess charges (s) 10 5 5 * 28 39 £5 96 4. L u g g a g e (dc) 56, 78 91 70 55 53 46 33 28 £8 I3C. R e c r e a t i o n _ 4,327 3,986 3,29ft 2,435 2,199 2,437 2,625 3,014 3 , 3 7 4 3,235 3,446 3,740 4,225 4,590 625 672 913 892 821 573 631 854 1. Admissions to specified spectator amusement. 937 1,102 876 818 816 759 518 656 720 482 710 732 756 659 676 527 s . Motion picture theaters (s) 924 709 663 626 18 91 32 19 33 47 b . Legitimate theaters and opera (s) 01 48 40 21 27 19 21 c Entertainments of nonprofit organi zations, except athletics (s) d. Professional baseball (s) «. Professional football (s) 1943 10, 35 12 8 140 10 24 8 5 44 24 14 40 33 63 2 24 1942 10i 31 12 7 129 7 18 7 3 15 94 81 1,131 1,063 38 52 1941 12 41 13 11 114 467 336 346 306 296 572 404 354 1,814 1,749 1,540, 1,475 1,466 1,04D ],743 1,945 375 3,865 3,648 3,725 1940 4 424 41 2,58* 1,642 1,144 264 419 320 162 221 196 810 220 77 14 521 I 1938 1939 IS W, 12 27 IS 30 19 2 3 »i 33 21 2 2 55 82 86 479 3 42$ 3 416 3 441 3 450 4 400 i 518 4 514 4 554 4 266 207 181 290 216 242 369 268 138 II 07 SI 4 4 102 6 115 9 144 13 179 10 186 10 6 5 6 8 8 8 0 206 278 322 278 356 429 535 42 21 55 21 13 65 63 23 15 62 61 25 17 62 78 32, 21 70 101 36 28 94 57 34 II* 1 2 2,633 423 TO TO TO TO ( 3 148 12S 260 92 A 3 2,962 ? TO TO ( TO ? TO TO w TO TO TO TO , 474 650 31 17 8 I 9 198 2 79 47 18 3 4 14 32 25 8 418 CO 24 10 232 36 3 3D 171 24 14, 7 31 7 1 "i 47 12 581 4 019 4 285 309 371 195 19 210 23 254 674 5 415 409 480 695 S19 260 14 229 S 205 10 323 12 598 63 794 S31 6 902 7 1,016 TO 10 250 44 147 TO 254 1,055 70 53 174 64 62 206 10 TO 44 NATIONAL INCOME SUPPLEMENT' TO SURVEY OF CURRENT BUSINESS July 1947 Table 30.—Personal Consumption Expenditures by Type of Product, 1929-46'—Continued ^ f Mil lions of dollarsl Group 1929 1930 1031 1932 I X . Kecrcation—Continued 5, Informal recreation— Continued n. Hunting: dog purchase and training, and sports guide service (si o. Veterinary service and purchase of 22 26 27 pots (s) 134 221 190 0. Flowers, seeds, and potted plants (ndc) 32 32 7, Camp fees (s) 28 302 294 8, Clubs 377 148 143 a. Athletic and social—dues and fees (3). 127 b. School fraternities—dues and fees (s)_ 14 14 14 e. Fraternal, patriotic, and women's organisations except schoel and insurance—net payments (s) 130 130 134 0 7 6 d. Luncheon clubs (s) 74 89 90 9, Commercial amusements, n . c. c. (s) 683 665 664 X Private education and research 242 251 219 . Higher education » (s) .... 135 170 162 2. Elementary and secondary schools ! (s) 3. Commercial, Business, and trade schools25 27 37 fees (s) 24 4. Correspondence schools—fees (s) 20 32 139 5. Other instruction (except athletics)—fees (s). 115 133 6. Foundation expenditures for education and 91 91 research < (s) XL Religious and -welfare activities 1,190 1,309 1,125 837 1. Religions bodies 8 (s) 912 893 244 2. Soeialweltflroandforeignrclietageneies' (s) 253 230 15 3. Museums and libraries ! fe) 15 15 4. Foundation expenditures (except educa 33 30 tion and research) > (s) 30 e 18 9 5. Political organisations' (s) 799 756 XII. Foreign travel and remittances—net 601 1, Foreign travel and remittances by United States residents 737 931 992 34 a. PaymcntstoUnitedStatesvessels(s) 26 33 420 578 b. Other foreign travel expenditures (s). c. Expenditures by United States Gov ernment personnel (military and civilian) (ode) 30 20 21 d. Personal cash remittances to foreign 262 300 countries (s) 339 3. Less: expenditures and remittances by 126 175 foreigners.. ..... 193 98 a. Expenditures in the United States (s) 143 132 b. Personal cash remittances to the 23 43 United States (s) 51 Total personal consumption expendituresDurable commodities Nondurable commoditles^ „—„-.*Services.. 1983 1934 1935 1936 1037 1939 1940 1941 1942 1943 17 90 34 208 72 13 128 0 55 571 227 158 117 6 54 481 295 121 19 IS 16 10 70 61 973 743 100 14 872 663 W IS 028 267 195 100 9 71 639 277 198 102 9 81 692 283 202 110 9 83 816 310 215 122 10 78 961 363 237 137 10 109 931 372 344 154 11 123 853 352 216 26 20 71 24 21 75 54 22 84 132 22 81 204 22 160 22 70 22 48 923 651 219 16 49 47 41 46 938 1,000 1,014 1,160 662 052 662 659 447 321 263 237 10 16 10 10 52 1,306 695 563 54 1,499 54 1,478 783 052 16 10 317 15 30 223 16 9 209 497 20 313 387 13 159 106 13 176 178 108 0 63 483 313 121 106 6 66 697 32S 122 102 6 75 540 212 110 101 7 87 000 249 174 101 7 61 019 256 193 18 17 22 18 70 25 IS 72 28 29 78 2S 20 75 15 870 641 132 13 47 862 027 195 14 49 899 621 204 14 51 909 038 219 15 25 191 28 199 74 18 20 211 2S 203 16 750 071 10 16 18 35 18 9 1,144 4 124 740 1,218 3 3 140 172 351 417 S22 944 140 99 180 221 162 122 185 140 214 159 10 45 16 94 %> « 8 to 8 8 290 190 43 8 '8 250 137 94 m679 . 332 1,434 5 16 19 16 10 352 16 44 412 17 II 452, £53 16 318 454 16 243 443 17 259 478 IS 286 566 34 341 620 23 410 16 21 376 543 23 366 30 18 16 20 IS 18 18 20 27 77 199 178 151 155 170 109 151 144 188 104 85 126 108 114 132 168 140 172 135 ISO 144 164 105 19 20 22 28 37 36 17 391 30 236 78 II IS 25 170 20 200 75 17 18 8 367 17 « 37 457 32 280 104 11 76 20 186 31 203 79 16 20 30 467 36 69 12 33 209 30 305 71 16 24 169 29 198 74 16 1916 10 10 29 247 30 203 74 32 130 27 197 71 14 18 110 20 199 71 14 1945 35 315 26 217 73 12 ID IS 89 25 242 94 14 1944 16 19 316 17 S 555 1,004 229 137 129 78.761 70,789 61,163 49,203 16,346 51,882 50,215 02,515 67,121 64,513 67,406 72,052 82,255 90,335 101,636 110,417 121,698 143,670 m 9,302 7,275 5,509 3,091 3,503 4,265 5,153 6,374 7,006 6,754 6,739 7,854 9,750 6,815 6,515 0,765 7,977 14,017 37,742 34,062 28,963 22,743 22,254 26,732 29,377 32,387 35,232 34,032 35,268 37,591 43,960 52,962 01,205 67,100 75,298 87,061 31.657 29.462 26,029 22 771 2ft 689 20.895 21.630 33,254 24,881 24.727 25.479 26.604 28.645 31,028 33.906 36,472 38.433 41.692 i Oommodities and services purchased b y government and business as well as consumers have been allocated between nonconsumer and consumer purchases, and only the latter are shown in this table with the exception of meals and beverages where the deductions made for nonconsumer purchases are indicated. Consumer nondurable commodities are designated n<fc following group titles, durable commodities rfc, and services s. 9 Expenditures for alcoholic beveraees—distilled spirits, wine, and beer—bought both in packaged form and by the drink are estimated as follows in millions ot dollars: 1933—626, 1934—2,003, 1935—2,563, 1936—3,161,1937—3,443,1938—3,237,1939—3,425, 1910—3,034,1911—4,238, 1942—5,346,1943—6,082,1944—7,200, 1915—7.850, and 1940—8,770. • Off-premise food estimates include fountain or lunch counter sales of post exchanges, ships' stores, meals sold by army messes, eto. The meals and beverages estimates, on tbo other hand, cover fountain sales of certain foods, especially packaged Ice cream, for off-premise consumption. • Component service group estimates not shown separately are included in their respective subdivision and division totals. 1 Space rent covers heating and plumbing facilities, lighting fixtures, storm windows and doors, window screens and screen doors, and window Winds or shades, b u t excludes other furnisntags, equipment, and related services—furniture, stoves and ranges, refrigerators, repairs of furniture and appliances, fuel, electricity, etc. Purchases of excluded furnish* equipment, and services are Included In tnc appropriate commodity and service series. These housing estimates Include housing furnished as part-compensation of nonfarm employees. ■ N e t payments are premiums minus claims paid, or in the case of labor unions and fraternal, patriotic, and women's organizations arc gross payments minus cash benefits. r Include value of meals furnished. > These series are denned to include current expenditures of nonprofit organisations providing services principally to individuals, Including depreciation but excluding relief payments within the United States. • Less than $600,000. » Total operating expenses of life insurance companies excluding payments to policyholders and expenses allocated to accident and health insurance, T a b l e 31.—New C o n s t r u c t i o n Activity, by T y p e , 1929-46 (Millions of dollarsi 1939 1930 1931 1932 1933 1934 1935 1936 1937 1933 1939 1940 1941 1942 1943 1944 1943 9,913 8,059 5,980 3,200 2,233 2,756 3,110 4,714 5,303 6,018 6,003 6,80/ 10,308 13,353 7,731 4,073 4.695 3,116 1,182 1,006 1,221 1,648 2,486 3,274 2,941 402 665 1,131 1,372 1,511 1,328 278 361 199 404 712 I, OSS 764 1.104 455 472 232 492 221 71 176 191 168 360 231 135 177 400 298 433 217 298 86 112 119 243 125 43 41 52 116 63 1*7 69 45 84 50 40 454 589 470 987 432 254 312 335 196 389 226 97 39 09 93 176 104 104 69 64 118 20 43 00 85 92 107 3S 13 20 39 SO 2,228 2,031 2,077 2,564 1,778 1,218 1,536 1,462 61 35 93 1 9 597 469 666 273 622 623 578 392 193 256 4 12 2 P) 3 11 2 « P) 336 36 151 101 Institutional * ._.„.„„_-.--462 455 373 201 130 283 349 127 173 S9 110 44 74 121 173 103 77 18 10 57 60 04 32 68 30 Other >. 47 29 34 36 10 62 37 47 37 29 19 S70 830 837 916 676 S21 1,323 622 005 1,348 1,481 023 136 314 621 020 665 687 410 Another' _ 503 i Consists of warehouses, oflleo and loft bufldines; stores, restaurants, and garages; and hotels. 1 Consists of religions, educational, and hospital and other Institutional. » Consists of social and recreational, and miscellaneous. * Consists of educational, and hospital and other institutional. ■ Consists of commercial, social and recreational, and miscellaneous. » Consists of sewage disposal and water supply; miscellaneous public service enterprises; conservation and development; and ' Not available separately; amount believed negligible. 7,622 2,797 Nonresidential building, except farm and public utility. 2,822 949 1,296 369 337 Other i „ 1,024 Public utility 279 147 132 3,391 5,306 1,440 2,999 532 1,020 343 204 1,568 193 107 36 2,753 3,019 2,114 785 254 304 112 115 494 226 120 106 2,443 65 836 33 532 180 100 125 836 5S3 4,199 2,355 1.028 442 365 134 87 530 236 127 109 3,008 300 619 104 132 96 77 335 875 629 5,238 3,908 2,765 1,315 635 1,436 801 340 164 427 79 1S8 40 100 681 687 393 371 144 174 127: 129 6,070 10,145 430 645 1,610 3,634 1,330 3,437 169 148 38 16 21 40 1,620 5,016 850 075 575 630 1916 io,oor 1,009 1,740 2,647 7,856 650 535 070 3,300 232 360 1,014 3,360 150 208 642 1,689 34 59 210 1,166 22 398 46 38 37 20 74 227 495 C4S 672 866 292 213 191 350 185 136 116 212 197 77 76 138 0,005 2,327 2,048 2,151 700 190 71 387 1,800 638 652 319 507 1,008 170 195 99 144 ISO 9 11 15 16 IS 21 23 33 2,669 837 690 138 342 450 360 70S 563 302 293 551 all Federal not Included elsewhere. jmy 1947 NATIONAL INCOME S U P l ^ E M E N T TO SURVEY O F CURRENT BUSINESS 45 Table 32.—Producers' Durable Equipment, 1929-45 [Millions of dollars] 1943 1944 1945 0,43S 4,926 3.102 1,781 1,783 2,531 3,351 4,631 6,444 3,975 4,677 6,108 7,676 4,702 3,701 5,343 7,134 716 168 180 170 239 47S 73 029 283 035 174 282 134 178 182 139 310 385 174 0 181 363 204 264 326 314 676 91 767 314 724 234 343 145 100 220 234 739 378 215 12 73 1929 1930 399 550 60 107 136 106 279 100 US 147 681 414 GereraJ and miscellaneous machinery end equipment „ 55 05 393 366 175 161 370 Electrical apparatus and e q u i p m e n t — . . . . ^ „_ „ , 4S0 167 154 411 Nonresident^] furcit«re and equipment 514 75 91 professional and scientific equipment. _*. •«.—..,*^.«. OS 88 HI J07 Miscellaneous subsidiary durable equipment-*., . ^ - „ 349 303 1,656 1,003 391 387 109 76 17 41 1931 300 26 61 87 80 312 32 1S9 00 200 76 278 64 45 90 226 763 94 83 0 1932 182 20 17 38 46 170 15 120 46 119 £3 104 35 30 76 167 407 62 IS 1 1933 198 24 14 46 40 171 12 129 23 87 62 141 29 34 87 156 403 33 12 8 1934 250 38 28 81 38 m 20 142 68 143 64 192 33 44 111 183 709 118 21 15 1935 1936 1037 503 329 435 114 100 69 105 46 80 192 197 131 124 96 01 508 431 316 51 40 28 344 221 274 192 254 121 422 207 264 103 129 83 307 246 208 89 55 44 74 61 51 100 132 113 292 214 267 977 1,264 1,312 383 125 230 05 57 9 10 7 8 1938 1939 1942 1941 1940 373 405 611 619 72 242 B4 77 177 120 82 85 159 228 449 630 150 213 10I« 108 363 406 467 640 68 36 32 48 327 292 375 495 175 236 316 184 662 231 362 650 200 145 109 115 2G1 285 341 426 104 80 62 83 128 65 67 89 161 122 136 143 282 323 395 247 335 1,142 1,418 1,746 102 200 353 403 194 S3 145 122 35 23 15 39 33 6 601 146 159 408 190 409 57 538 108 461 170 329 34 82 162 203 214 4G1 218 0 355 570 113 164 331 178 401 72 405 110 395 119 277 118 122 197 117 245 287 I7S 0 644 i Consists of certain Defense PJant Corporation purchases included mainly in special Industry machinery; general and miscellaneous machinery and equipment; engines and tur bines; pumps and pumping equipment; electrical apparatus and equipment; professional and scientific equipment; and tools. Table 33.—Net Change in Business Inventories, 1929-46 [Millions of dollars] 1929 Net change in business inventories, t o t a l . . . Inventory valuation adjustment Net change in nonfarm inventories by Industrial Manufacturing Change in book value.. Inventory valuation adjustment "Wholesale trade Inventory valuation adjustment Change in book value Inventory valuation adjustment AllotberChange in book value 1930 1933 1932 1931 1934 1936 1936 906 3,226 1,562 -283 -1,361 -2,563 -1,019 -1,144 478 1,111 36 —271 -1,317 303 -252 -249 173 427 2,115 - 3 4 -1,669 -2,599 -1,34S 1,814 173 427 2,115 - 3 4 -1,609 -2,599 -1,348 1,814 182 217 1,589 101 -1,149 -1,836 - 8 7 1 1,658 210 526 -9 -225 -620 -733 -477 250 704 2,973 852 1,200 -4,049 -4,094 -3,941 1,320 807 444 2,327 1,0S6 -3,069 -3,603 -2,863 1,272 646 45 260 48 114 -9S0 -1,131 -1,078 614 4,015 3,025 1,342 -2,668 -679 -277 - 8 5 8 472 3,260 2,414 1,047 -2,143 - 6 2 5 —227 - 7 3 3 -54 -50 -120 295 -525 011 755 142 —34 -1,669 -2,699 -1,348 1,814 747 -594 -1,185 -678 911 823 608 -1,563 -2,239 -1,840 691 -1,406 313 2,300 1,045 -89 54 —413 -175 31 263 - 7 4 —627 -832 -358 410 105 183 -357 581 260 -633 -377 -753 -486 223 87 -1,390 -1,148 -1,130 333 -708 771 857 173 012 -302 - 2 8 5 -516 -196 1 589 -579 —475 -601 85 -197 190 277 23 1937 1938 1939 1940 2,309 645 1,764 1,704 1,520 244 1,824 1,551 273 -00 -31 -29 -973 140 —1,113 -1,113 -920 -103 -2,297 -1,883 -414 1,184 963 221 441 97 344 344 261 93 1,224 965 259 -880 -714 -160 2,276 3,874 1,416 - 1 , 1 3 0 240 -449 458 1,207 2,035 3,416 149 - 7 3 1 2,035 3,416 149 - 7 3 1 1,633 394 - 5 1 7 3,165 251 —245 - 2 1 4 402 2,235 6,677 1,775 231 6,782 1,663 1,731 307 896 464 -76 107 -200 -3,261 -1,626 -962 -143 -2,617 -1,274 -824 -52 -138 -352 -6*4 1941 1942 149 173 427 2,116 1,764 - 1 , 1 1 3 344 2,035 3,416 214 1,274 2,321 1,482 136 213 1,095 1,344 - 6 3 1 713 1,363 4,053 2,209 381 1,586 1,340 - 1 , 2 6 8 698 637 - 4 9 0 —462 —168 —491 - 8 9 -1,732 4 -817 162 77 210 - 1 9 8 168 - 7 3 2 1 286 66 167 236 794 - 4 4 9 9 487 226 70 - 4 0 3 205 - 1 5 9 5 -620 140 -283 - 8 -201 -160 676 118 64 - 1 8 7 501 - 6 6 7 313 703 -47 831 209 - 4 9 0 -16 050 1,309 312 -168 394 -81 303 - 1 9 4 -499 -808 -31 -81 -128 -145 -65 -07 146 31 426 18 -1D0 24 66 60 59 -37 205 - 1 3 6 93 6211 44 -so! 39 - 2 3 -27 -96 -26 -20 - 3 8 -59 -35 1945 1944 1943 —1,957 -573 -1,384 -1,384 -1,271 -113 -970 -916 -54 -414 -365 -59 1946 -1,222 3,664 -71 —236 - 1 , 1 5 1 3,900 - 1 , 1 5 1 3,900 - 1 , 1 1 8 2,796 -33 1,104 - 5 0 4 9,897 - 5 8 6 7,485 21 2,412 -587 -6,997 -633 -4,689 - 5 4 —1,393 - 7 3 1 - 1 , 3 8 * - 1 , 1 5 1 3,900 1,332 44 - 1 , 3 1 6 - 1 , 1 0 6 - 7 0 S 4,295 675 - 1 , 0 3 3 -398 -2,963 -631 -283 161 -279 1 562 247 1,500 -125 30 -86 -154 -29 -938 -186 1,714 -111 -413 3,456 -52 -272 -113 - 5 9 —1,742 -73 -141 292 -35 -S3 117 646 9 -47 146 -29 -364 —44 -36 Table 34,—Supplements to Wages and Salaries, 1929-46 (Millions of dollars] 1929 1931 1932 1933 1934 1935 101 621 Employer contributions to private pension and welPay of military reservists > . . . . - - . — _ . . . _ . „ - . . . . Other 3 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 106 584 542 505 547 599 921 1,743 1,935 2,075 2,199 2,572 3,008 3,605 4,240 5,321 5,650 111 126 133 147 171 7 418 1,234 1,423 1,640 1,624 1,983, 2,302 2,077 2,936 3,305 4,072 238 261 291 329 532 648 630 419 625 169 583 780 813 1,011 1,089 1,240 1,177 1,008 315 877 102 89 105 98 161 183 184 177 124 81 64 58 67 129 02 140 140 9S SO 163 Railroad retirement insurance Federal civilian employee retirement systems.. State and local employee retirement systems Government life insurance * . . . . . . 1936 3 621 Employer contribulwnsfor social i n s u r a n c e . . . - . . . . . . . . . . Old age and survivors Insurance 1930 21 72 3 620 278 hi 78 7 515 278 22 84 5 473 246 22 """22 " " 2 2 96 107 118 8 4 4 410 372 400 207 180 183 32i 127 5 428 201 45 131 2 503 228 63 141 3 514 263 77 147 2 612 253 128 34 80 124 36 77 121 37 69 113 37 69 129 38 60 109 42 64 139 46 67 145 43 103 31 68 123 31 68 6G 33 84 152 2 536 255 67 93 155 2 575 278 SO I02i 165 2 539 318 00 109, 1S5 29 700 367 118 120 130 140 147 191 227 240 202 212 225 235 27 255 1,263 1,561 838 1,304 1,616 1,578 403 496 474 444 156 5S 06 170 01 66 183 14 74 247 3 392 2 91 so 721 1 138 828 5 209 915 27 140 1 Consists of Government contributions to the Government Life Insurance Fund and tbe National Service Life Insurance Fund. i Excludes pay of reservists on [ull-timc active duty, which is included in military wages and salaries. Consists of directors' fees, jury and witness fees, compensation of prison inmates, Government payments to enemy prisoners of war, marriage fees to justices of the peace and merchant marine war-risfc life and injury claims. 1 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS 46 July 1947 Table 35.—Employee Contrt buttons for Social Insurance, 1929-46 [Ml 11 Ions of dol tars] 1929 T o t a l e m p l o y e e contributions for social insurance 242 1930 147 1931 1932 151 1933 132 1S2 1934 167 1935 102 1936 1937 1933 1939 1940 1941 1942 1943 1944 1943 1940 see 130 534 696 658 801 1,160 1,839 2,236 2,335 1,918 261 44 54 39 96 291 41 58 42 105 329 44 07 SO 112 419 SO 80 06 US 60 39 30 05 39 47 30 51 31 55 32 57 30 63 30 65 32 70 34 76 288 32 02 37 86 00 60 05 63 59 02 00 fli 01 9 02 74 98 159 120 2 181 025 88 139 257 128 6 607 648 030 90 as 140 140 282 295 139 150 5 4 933 1,031 071 40 163 203 160 5 016 • Represents premium payments to Government Lite Insurance Fund and National Service Lite Insurance Fund. Table 36,—Transfer Payments, 1929-46 [Millions of dollars] 1920 1930 1931 1933 1932 1934 1935 1936 1937 1938 1939 1940 1041 1942 1943 1944 1945 1946 1,499 1,544 2,673 2,152 2,113 2,193 2,389 3,520 2,418 2,834 2,963 3,119 3,119 3,151 2,970 3,631 6,185 11,319 604 023 2,054 599 695 913 746 1,675 828 1,196 1,340 1,420 1,375 1,438 1,240 1,838 4,298 9,158 44 7S4 004 1,336 2,357 345 713 840 696 606 142 95 93 94 82 72 60 51 137 287 218 172 94 40 14 10 1 337 344 02 344 439 2 446 1,095 80 518 393 123 137 146 132 124 118 110 98 40 1 159 6 1 2 1 14 16 6 40 83 130 78 73 63 00 ,57 £2 42 32 27 22 IS 348 1S3 93 68 65 56 110 59 40 29 36 34 36 272 67 75 09 40 43 40 33 29 328 10S 9 137 63 22 23 36 20 2 Military pension, disability, a n d retirement pay* 433 418 18 1,430 443 90 Other * — „ „ » ^ Other*. Business.-—— Other \ , 548 955 571 152 456 35 382 27 111 2JS 72 72 110 204 78 78 112 349 86 80 118 502 95 95 102 759 110 110 92 96 953 1,172 127 119 119 127 71 K e a d j u s t m e n t , self-employment, a n d 468 117 105 105 170 170 87 049 40 497 112 317 558 72 4S6 91 OSS 27 530 102 745 80 665 69 641 27 508 106 446 S9 462 30 470 28 474 10 475 10 491 6 648 1,013 1,678 7 18 189 230 1,403 2,131 subsistence } » «. 434 134 75 587 32 452 103 81 S34 35 390 109 317 f \ 90 737 31 508 108 954 115 830 91 594 28 453 198 142 2,727 5 215 81 32 19 24 G2 82 SO 284 195 247 862 1,6123 1,209 1,272 1,262 1,242 1,229 1,220 1,244 1,323 1,633 233 137 213 245 223 194 175 103 157 151 144 238 137 210 194 175 163 157 151 144 240 218 3 fi 3 5 988 1,178 929 942 956 985 965 1,034 1,013 787 035 901 1,058 818 778 7i3 030 £06 509 397 218 853 87 J11 178 267 383 458 456 390 417 120 89 102 78 210 79 79 82 86 91 93 02 90 564 504 549 494 502 431 4S1 429 507 594 528 213 139 58 38 31 27 33 30 175 200 98 230 245 332 287 310 290 428 461 230 230 282 115 100 112 100 104 106 106 103 107 114 117 ' Consists ot payments from Government Life Insurance fund and National Service Lite Insurance Fund. ? Consists of Farm Security Administration grants and tbe value of free stamps issued under tbe surplus food and cotton stamp programs. 1 Covers benefits under die World War Veterans Adjusted Compensation Act ot May IS, 1924, as amended, and under tbe Adjusted Compensation Payment Act of January 27, 1936. For tile period 1929 through May 1936 thisseries represents very largely not Joans to veterans on tbesecurityoftbetr adjusted service certificates from the U. 8. Government Life Insurance Fund and the Adjusted Service Certificate Fund; for tbe period June 1936 through 1940 it consists almost entirely of cash redemptions by veterans of their adjusted service bonds. Additionally, the scries includes (1) payments to beneficiaries on certificates matured by death ot veterans (1929-46); (2) "adjusted service dependent pay," which comprises cash payments (negligible in amount) to "veterans and tbeir beneficiaries where, under certain circumstances, no certificates were Issued (1929-40); (3> payments to veterans in settlement ot adjusted service certificates not covered by issuance of bonds (1936-46); and (4) payments to veterans boldIng certificates to maturity (1945-16). * 1 For 1946 Includes $31 millions ot enlisted men's cash terminal leave payments. Consists of military and naval insurance payments, payments to nonprofit Institutions, profits ot military post exchanges and ships'stores and services, and payments under the Panama Canal Construction Annuity Act. 'Consists of veterans' aid and bonuses, payments for the cam of foster children in private family homes, and payments to nonprofit institutions. ' Consists of cash prises, unrecovercd thefts from business ot cosh and capital assets, and personal-injury payments from business other than to employees. Table 37.—Monetary and Imputed Interest, 1929-46 (Millions of dollars! 1929 6,541 4,344 9,811 3.311 7,697 1,081 Originating in households and institutions 1,620 1,620 677 711 Less: M o n e t a r y interest paid to abroad 134 Personal Interest i n c o m e (component of Personal I n c o m e ) — 7,524 6,541 N e t interest paid b y g o v e r n m e n t . . . ... . 983 1,506 523 1930 1931 1932 1933 1934 1936 1930 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 6,176 4,603 9,085 3,063 0,630 890 963 905 008 701 93 7,149 6,170 964 1,513 549 5,938 4,022 8,413 2,810 5,876 730 766 766 530 612 62 7,022 5,938 1,034 1,S21 437 5.430 4,360 7,6SB 2,694 5,158 604 044 644 420 458 32 6,571 5,430 1,141 1,374 433 5,010 4,093 6,661 2,361 4,359 670 593 593 324 349 25 6,180 5,010 1,170 1,639 519 4,760 3,902 6,284 2,399 4,242 539 600 666 242 26S 23 5,980 4,750 1,230 1,849 619 4,539 3,704 6,911 2,374 4,000 521 628 628 207 231 24 5,680 4,639 1,141 1,831 690 4,474 3,541 5,615 2,497 4,030 541 738 738 195 221 26 5,575 4,474 1,101 1,868 767 4,376 3,401 5,490 2,583 4,118 554 816 815 100 191 31 5,580 4,376 1,204 2,019 815 4,290 3,384 6,274 2,569 3,896 554 768 768 138 170 32 5,482 4,290 1,192 1,920 738 4,212 3,384 5,193 2,606 3,957 653 801 801 127 158 31 5,417 4,212 1,205 1,941 730 4,104 3,102 5,050 2,694 4,028 614 882 883 120 152 32 6,395 4,104 1,291 2,059 708 4,113 3,004 5,010 2,821 4,173 060 983 9S3 126 152 20 6,402 4,113 1,289 2,088 799 3,878 2,988 4,850 2,996 4,176 682 760 760 130 165 25 6,395 3,878 1,517 2,407 890 3,367 2,681 4,033 3,178 4,339 771 571 571 115 145 30 5,607 3,367 2,110 3,141 1,001 3,207 2,547 4,586 3,450 4,739 750 542 542 118 149 31 6,007 3,207 2,800 3.888 1,088 3,130 2,445 4,716 3,796 5,275 791 662 563 123 16S 35 6,806 3,130 3,073 4,930 1,265 3,174 2,361 5,603 4,189 5,864 967 691 691 122 153 31 7,666 3,174 4 491 5,775 1,284 'This Item consists of two kinds of Imputed income: (l) the value of tbe services rendered to depositors by financial intermediaries without the assessment of speoiflc charges, and (2) property income received byfinancialintermediaries but accruing to tbe account ol persons. The former arises in the case ot commercial banks, mutual banks, building and loan associations, credit unions, investment banks, and similar institutions and is measured by tbe cost to these institutions of rendering Ires services to depositors. The latter arises is the case ot life insurance companies, mutual banks, savings and loan associations, and credit unions, avid Is classified as Imputed interest to signify that snob, income is not received currently by persons in tbe form of monetary interest payments. i This Item consists of the value of the services rendered to business depositors by commercial banks without the assessment of specific charges. It is derived from the total of free services rendered by commercial banks by an allocation between business and persons on the basis of deposit information. As an Jnterbusmess transaction, the business share la eliminated In the measurement ot national income and product. Tbe part allocated to persons Is a component ot consumer expenditures for services. July 1947 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS 47 T a b l e 38.—Reconciliation o f D e p a r t m e n t of C o m m e r c e E s t i m a t e s of Corporate Profits w i t h B u r e a u o f I n t e r n a l R e v e n u e T a b u l a t i o n s , 1929-43 ' [Millions of dollars] 1033 1934 1935 1936 1937 1938 1939 1940 1911 1942 -930 246 1,696 2,970 312 298 6,423 349 239 7,771 437 142 7,830 524 164 4,131 437 75 7,178 4*8 65 9,343 475 703 16,675 544 1,006 23,389 87S 28,126 044 142 * 202 243 470 6S1 305 152 207 186 212 330 188 297 163 48G 179 584 294 1,260 43 -56 316 L026 54 -32 432 2217 101 -2 560 3,014 163 44 610 2,676 193 -32 584 2,632 209 -13 029 95 1,791 312 195 505 116 1,906 250 114 678 178 2,021 245 137 571 185 21235 183 99 918 131 1,344 157 98 919 130 1,334 134 130 910 12 -19 -30 -41 -57 -69 1,030 1,054 -96 -79 -79 -98 -131 -160 12 14 14 157 13 165 5 134 8 356 14 199 26 344 36 451 0 5 0 1 9 14 23 277 8 14 1,783 25 2,893 3,224 735 131 87 5,084 1,192 157 98 0,197 1,276 105 110 3,329 S60 134 88 6,467 1,232 166 118 9,325 2,549 199 189 37,233 7,168 277 473 145 77 21,098 12,250 344 656 24,510 15,926 451 620 1,316 2,141 101 326 6 6 1929 1930 1931 11,870 559 £00 4,6}9 463 935 - 7 7 7 -3,829 26S 246 1,702 1,705 Less net capital gain, B. L R.» — Less net gain, sales of property, other than 1,316 646 299 Less domestic dividends received, B . I . R Less foreign dividends received, B. I. B . ' Plus "rest qf the world" industry, Commerce. Pius profits disclosed by audit. Commerce Less profits of mutual life insurance com panies, based on B. I. R.* 2,593 237 65 851 2,571 189 3 600 1,969 92 -56 405 123 110 9* 104 17 33 7 Less profits of mutual nonlifo insurance corn- -69 -SO -62 -49 -59 -81 -88 Less foreign income tax on branch profits, 13 245 11 95 6 76 2 57 6 59 10 10* • 12 331 38 6 0 21 7 8 9,618 1,193 145 91 3,303 712 98 67 -783 -3,042 399 286 75 57 44 45 162 423 69 61 1,723 596 100 78 Compiled net profit,B. I. E Plus depiction, B, I . B Plus net loss, sales of property, other than Pins profits of Federal Reserve banks, Federal 1932 Less emergency amortisation acceleration, Profits before taxes, Department of Commerce Less FederaUnoome taxes, B. I. R Less State income taxes, Commerce Less taxes resulting from sudft, Commerce Plus tax refunds resulting from renegotiation, B. I. ft.'. .. Plus tax refunds resulting from emergency Less income taxes. Federal Reserve banks, Plus taxes paid by mutual nonlifo insurance Less unjust enrichment tax, Commerce • Less excess profits tax, Vinson Act, Commerce*. Plus foreign income tax on dividend income, Commerce* . . ... . Plus foreign income tax on branch profits, Commerce' Plus carry-hack tax refund, Commerce Profits after taxes, Department of Commerce IS 9 4 1943 466 2 •44 1 2 1 23 18 13 5 13 18 20 22 20 33 38 46 40 42 44 13 11 e 2 G 10 12 14 13 5 8 14 23 26 977 2,259 4,273 4,685 1,289 5,005 6,447 9,388 9,433 36 291 10,363 8,420 2,466 -1,283 -3,424 -362 i Aa reported in Statistics of Income. ' Beginning in 1933, the item previously reported in StaffsJfej oflncvmt as net capital gain was subdivided into two parts designated as net capital gain and net gain, sales of prop erty other than capital assets. ' Dividends received from foreign corporations were first available in Statistic) of Income in, 1937. Prior to this year they were estimated by the Department of Commerce. * These estimates are based on Bureau of Internal Revenue data. They attempt to measure merely t h e amounts included In the Statistics of Income profits total, and have no economic significance as a separate series* i Beginning in 1942, these are Bureau of Internal Revenue data; prior to 1942, they are estimates based on Bureau of Internal Revenue data. They attempt to measure merely the amounts included in the Statistic! of Income profits totel and have no economic significance as a separate series. i* ' The total income taxes paid to foreign countries by domestic corporations, and used as a tax credit against the United States Federal income taxes are available in Statistics of Income. The breakdown of this total as between foreign income taxes on branch profits and dividends was estimated by the Department of Commerce, J, * adjustment for gross renegotiation refunds, and the tax credits relating thereto, refer only to that part which took place subsequent to the filing of original returns with w e Bureau of Internal Revenue, end is therefore incorrectly included as profits and taxes in the Statistics of Income data. i The emergency amortisation acceleration adjustment measures the effects of shortening the emergency amortization period from 5 years to tbo period between completion or the facility and Sept. 29,1916, the date on which the emergency was declared over for this purpose. ' These estimates are based on Bureau of Internal Revenue data. Tattle 39.—Major I t e m s o f Personal I n c o m e a n d Personal C o n s u m p t i o n Expenditures i n K i n d , 1929-46 {Millions of dollars] 1929 Personal income and consumption expenditures in kind Food furnished government (Including military) and commercial employees Standard clothing Issued to military personnel Meals furnished domestic servants and nurses Net rent of owner-occupied farm and nonfarm dwellings Services furnished without payment by financial inter mediaries except insurance c o m p a n i e s . . . . . . . , , . Employees' lodging Personal Income and consumption expenditures partially in kind1 Food produced and consumed on farms Fuel produced and consumed on farms. Personal consumption expenditures in kind not Included In personal income—..... .... Depreciation of owner-occup ted farm and nonfarm dwell ings. : Taxes on owner-occupied farm and nonfarm dwellings... Intltutional depredation 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1042 1943 1944 1945 1946 4,715 1,252 3,633 2,864 2,284 2,100 2,200 2,336 2,649 2,736 2,330 2,915 3,519 4,994 6.723 8,425 9,151 6,523 267 246 198 160 155 9 11 12 10 11 298 266; 195 128 140 2,772 2,493 2,120 1,604 1,162 185 7 161 949 230 214 271 12 9 13 194 ISO 214 937 1,023 1,190 247 14 182 L278 1,111 1,017 97 793 71 792 74 843 78 818 87 872 78 767 71 876 85 254 283 475 957 1,726 2,481 2,810 1,400 750 1,327 1,673 l,f 22 490 54 210 217 230 183 201 210 242 213 226 1,159 1,491 1,678 2,042 2,385 2,745 2,964 2,874 817 90 792 91 852 94 904 00 950 1,192 1,345 1,407 105 126 126 117 1,1 1,537 1,264 1,008 1,023 1,090 1,321 1,374 1,410 1,283 1,244 1,232 1,400 1,084 2,016 2,031 2,143 2,471 915 926 1,685 1,428 1,153 992 1,217 1,271 1,304 1.IS4 1,134 1,127 1,204 1,673 1,897 1,905 2,021 2,360 103 93 104 111 119 109 96 93 106 100 120 122 121 97 99 106 .114 110 2,203 2,232 2,180 2,104 2,000 2,034 2,058 2,053 2,034 2,098 2,094 2,156 2,221 2,312 2,421 2,552 2.728 2,938 1,007 1,093 973 1,017 1,051 1,037 179 178 176 913 987 171 946 879 175 972 887 176 979 903 176 991 1,012 1,008 1,027 1,053 1.119 1.1S5 1,263 1,331 1,407 1,617 885 892 906 880 932 961 1,021 1,120 1,221 90S 910 192 196 197 200; 201 200 177 ISO 184 187 190 1 These items are presented at their gross value because data on costs are not available separately from costs of farm output sold on tbo market. Only the net income derived from production of these items represents Income in kind; only the net income derived from, and the depreciation and taxes incurred in, their production represent personal consump tion expenditure in kind. On a cash Income basis the current expenses incurred in their production, other t h a n depreciation and taxes, would become personal consumptionexpendi* turcs Instead of business expenses, the taxes would become personal taxes instead of business taxes, and the depreciation would not appear, NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS 48 juiy 194T Table 40.—National Income by Distributive Shares, Quarterly, 1939-46 [Billions of dollars] I Compensation of employees. Wagea and salaries . . Military Supplements to wages and salaries Proprietors' and rental Income K~.~ Business and professional Farm .... ......... .. Corporate profits and inventory valuation Corporate profits tax liability Corporate profits after tax Inventory valuation adjustment Net interest Addendum: Compensation of general gov ernment employees II ni IV 17.3 11.5 11.0 8.0 .1 2.1 .5 3.7 1.7 1.1 .8 17.7 11.8 11.3 9.1 .1 2.1 .5 3.6 1.6 1.1 .0 18-1 11.8 11.3 9.5 .1 1-7 .6 3.7 1.7 1.1 .9 19.4 12.7 12.1 10.0 .1 30 .6 3.9 1.8 1.2 .9 1.1 1.1 .3 .8 .0 1.1 1.2 1.3 .3 1.0 -. 1 1.1 1.6 1.6 .4 1.3 -.3 1.1 2.0 2.0 1.7 Wattes and salaries.... Private — - —..._ Supplements to wastes and salaries Proprietors' and rental Income'. Business and professional Farm . Corporate profits and inventory valuation adjustment . Corporate profits before tax Corporate profits tax liability Corporate profits after tax Inventory valuation adjustment Net interest. Addendum: Compensation of general gov ernment employees..-. .. . 7.6 20 2.0 Year 2.4 191* II in IV 43.6 168.3 29.0 109.1 28.1 105.fi 20.6 78.7 4.2 14.5 3.3 12.4 3.6 .9 8.1 32.1 3.7 14.1 2.8 11.8 6.2 1.6 44.4 29.2 2S.2 20.3 4.6 3.2 1.0 8.4 3.7 3.1 1.6 45.5 30.1 29.0 20.6 5.1 3.3 1.1 8.6 3.7 3.2 1.7 45.7 30.5 29.4 21.0 5.4 3.0 1.1 8.5 3.8 3.0 1.7 5.8 6.0 3.4 2.5 -.2 .8 23.7 24.fi 14.2 10.4 -.8 3.4 6.0 6.1 3.6 2.6 -.1 .8 6.1 6.2 3.6 2.6 -.1 .8 5.9 6.0 3.5 25 —, I .8 5.6 6.6 3.3 2.3 .0 .8 23.5 23.8 13.9 9.9 .4 3,2 7.2 25.9 7.7 8.2 8.3 8.8 32.9 6.4 2.2 9.4 2.9 3.6 3.9 2.7 Year II III IV 42.5 182.8 20.0 122.9 27.7 117.6 10.5 82.1 4.0 22.4 3.3 13.0 5.3 1.4 0.4 37.1 4.4 16.7 3.3 13.5 7.0 1.7 41.6 27.5 2S.0 19.9 3.0 3.1 1.5 0.0 4.6 3.5 1.7 43.5 28.6 27.1 21.9 20 3,3 1.5 0.8 4.7 3.5 1.7 41.9 20.7 28.3 23.7 1.7 3.9 1.4 10.5 6.0 3.8 1.7 48.2 178.2 31,0 116.8 29.8 111.1 24.8 90.2 1.4 8.0 3.6 1 2 0 1-2 6.6 11.7 41.8 5.6 19.7 4.4 15.2 1.7 6.9 3.3 3.4 2.1 1.3 -.2 .8 19.7 20.2 11.3 89 -•6, 3.1 3.5 3.7 1.6 2.1 -.2 .8 4.7 16.6 3.9 4.3 6.8 21.1 5.7 4.9 8.6 2,7 2.3 2.0 4.1 12.5 3.4 2.9 - . 6 -1.8 -2.1 -4.7 3.2 .8 .8 .3 8.3 35.3 6.3 IV 46.6 1S3.3 47.6 48.1 31.4 121.2 31.5 31.8 30.3 116.9 30.3 30.5 21.3 83.3 21.2 21.2 6.7 5.9 5.0 20.8 3.4 3.3 12.8 3.3 1.4 4.2 1.3 1.1 0.3 0.3 8.0 34.4 4.1 4.1 4.0 15.3 3.6 3.5 3.1 12.4 1.8 6.7 1.7 1.8 44.7 30.6 29.1 20.2 59 3.0 1.3 0.1 4,1 3.2 1.7 5.9 6.0 3.3 2.8 -.1 .3 6.1 6.2 3.4 2.8 —.1 .8 4.4 4.5 2.5 2.0 -.1 .8 9.1 9.3 9.1 I II 16.2 I III Year 6.0 Year 1916 1945 I 6.4 5.7 19.8 5.3 21.1 3.2 11.7 2.6 9.4 —.1 - 1 . 3 .9 3.9 2.2 1.9 6.0 5.4 5.5 3.0 26 -.1 1.0 7.8 2,3 2.3 .7 6.1 6.3 3.6 2.7 -.2 .8 4.8 5.2 39 2.3 -.4 1.0 3,1 2.2 2.1 ,6 1.4 .1 1.0 6.2 6.4 3.7 2.7 -.2 .9 4,0 4.6 2.6 21 —.7 1.0 3.7 3.8 4.2 4.8 1.91 2 2 2.3 2.6 - . 6 -1,0 1.0 1.0 1.7 1.8 .6 1.2 -.1 1.0 5.6 5.9 3.4 2,5 -.2 .9 4.2 14.6 6.0 17.2 2.3 7.81 2.7 0.4 - . 8 -2.6 1.0 4.1 2.9 3.2 1.5 1.8 -.3 1.0 5.S 6.6 1.5 6.0 -.7 4.2 42.6 27.7 26.8 20.1 3.8 20 .9 8.0 3.6 2.9 1.6 38.5 136.5 24.2 84.7 23.4 81.7 18.2 66.6 25 6.3 2.7 9.8 .8 3.0 7.7 23.1 3.3 12.1 3.0 10.6 1.4 6.4 0.2 9.3 2.9 6.4 -.1 4.1 1.8 2.4 .5 1.9 -.6 1.0 42.1 27.0 26.1 10.5 3.4 3.2 .9 8.1 3.5 3.1 l.fi 35.7 22,1 21.3 17.21 1.E 2.3 .8 7.2 3.1 2.7 1.4 3.0 3.2 1.0 2.2 -.2 1.0 22.3 14.0 13.4 11.1 .2 2.1 .6 4.4 2.1 1.4 .9 40,0 25.4 24.6 18.4 3.1 3.1 .8 8.0 3.S 3.1 1.5 32.7 20.2 10.5 15.8 1.2 2,5 .7 6.8 3.9 26 1.3 26.9 16.6 15.9 13.5 .5 1.8 .7 55 2.S 1.8 1.1 20.2 12.9 12.3 10.4 .1 1.7 .6 4.0 1.9 1.2 .9 Year 29.5 IS. 3 17.6 14.5 .8 2.3 .7 6.3 2.7 23 1.8 25.3 15.6 15.0 12.4 .4 2.1 .6 5.0 2.3 1.7 1.0 19.9 12.7 12.1 10.0 .1 2.0 .5 4.0 1.0 1.2 .9 IV 28.8 103.8 17,8 64.3 17.1 61.7 14.3 61.5 .6 1.0 2.2 8.3 .7 2.6 5.7 20.8 2,6 9.6 2.0 0.9 1.2 4.3 22.9 14.3 13.7 11.3 .3 21 .6 4.6 2.2 1.4 1.0 18 9 12 3 11.7 9.6 .1 2.0 .5 3.0 1,8 1.2 .9 m rv 81.3 61.8 49.6 41.1 .6 7.9 2.2 16.3 7.7 4.9 3.6 72.6 47.8 45.7 37.fi .4 7.8 2.1 14.7 6.8 4.5 3,5 II HI IV IV I n III in .0 1.0 1.7 I a II t.e 1942 I I Year 1943 National Income 1941 1940 1939 Year 6.4 4.9 4.7 Year 21.2 ) Includes noncorporate inventory valuation adjustment. Tablef41.—National Income by Distributive Shares, Seasonally Adjusted Quarterly Totals at Annual Rates, 1939-46 [Billions of dollars] 1942 1941 1040 1939 Item Compensation of employees... ...... Private Government civilian Supplements to wares and salaries Proprietors' and rental Income' II ni IV 72.5 47.8 45.7 37.5 .4 7.8 2.1 14.7 6.8 4.5 3.5 77.5 49.7 47.6 30.3 .5 7.8 2.1 15.7 7.3 4.0 3.6 79.9 60.6 48.3 40.0 .5 7.8 2 2 15.8 7.6 4.6 3.6 81.8 62.1 49.9 41.5 .0 7.9 22 16.2 7.8 4.8 3.6 86.1 54.8 52.4 43.6 .8 8.0 2.3 17.4 8.2 6.5 3.7 SI. 3 51.8 49.0 41,1 .6 7.9 22 16.3 7.7 4.9 3.0 Farm... Corporate profits and inventory valuation Corporate profits tax liability 6.3 6.3 7.6 6.5 1.7 1.6 5.9 5.1 -.3 - 2 3 4.2 4.3 5.8 6.5 1.6 50 -.7 4.2 7.0 8.3 2.5 6.8 -.4 4.1 9.6 8.9 28 6.2 .6 4.1 9.5 9.4 2.9 6.5 .1 4.1 9.8 10.7 3.3 7.4 —.9 4.1 9.2 13.0 15.0 14.8 15.7 14.6 16.0 10.0 9.3 14.2 17.2 15.6 18.9 17.2 10.6 20.6 7.8 10.0 11.4 7,9 6.5 2,9 8.5 8.6 9.4 9.3 10.2 10.3 7.7 6.4 0.2 8.7 - . 1 -1.2 - 2 2 -3.8 - 3 . 2 -2.6 -2.7 -1.6 4.1 4.1 4.1 4.1 3.0 4.0 4,1 4.1 Inventory valuation adjustment Net interest ..... .-..__....., Addendum: Compensation of general government employees. ... 7.5 7.6 7.7 7.8 7.7 B.1 n III IV 71.4 46.7 44.8 36.4 .4 71.2 47.1 45.1 36.7 .4 8.0 20 14.3 6.6 4.3 3.4 73.0 47.9 45.8 37.7 .4 7.6 2,1 14.6 6.7 4.4 3.6 74.4 49.5 47.3 39.2 .4 7.6 2.2 15.5 7.0 4.9 3.6 5.6 6.0 1.4 4.7 —.4 4.2 at 1.9 14.6 6.7 4.6 3,4 5.8 6.7 1.3 1.4 .1 4.2 7.9 7.E 7.4 Year n HI IV . . . . . . 161.7 167.7 170.3 173.3 102 7 107.6 111.1 115.0 99.6 104.1 107.4 111.1 Wages and salaries 75.0 78.0 79.9 81.8 12.6 13.7 15.1 16 7 Military 12.0 12.4 12.6 12 7 Government eivilian 3.3 3.6 3.7 3.9 Supplements to wages and salaries See footnote a t end of table. National incomo_...-.-. . Year 7.8 I 93. G 57.0 55.5 46.3 1.1 8.1 2.4 18.6 8.9 6.8 3.9 8.5 II Year I II IV IV Year I II 9.2 9.6 10.3 9.4 11.4 13,6 Year I IV Year II HI 2LI 21.4 11.8 0.6 -.3 3.8 23.3 19.8 22.S 21.1 12.6 11.7 10.2 9.4 - . 4 -1.3 3.7 3.0 16.3 19.0 15.3 1946 1945 IV ni 101.2 107.5 1129 103.8 120.1 130.5 142.2 1537 138.5 62.1 66.8 70.1 64.3 73.9 80.fi 88.3 95.7 84.7 50.6 64.1 67.3 61.7 71.2 77.6 85.2 92.5 81.7 49.7 53.7 £6.2 51.5 59.0 63.1 68.0 72 0 65.6 1.6 4.9 3.2 22 2.6 6.3 9.9 7.2 1.0 8,3 9.5 10.0 10.6 8.9 8.3 8.6 9.8 &3 35 2.9 2.8 2,6 2.7 3.0 3.2 3.1 26 20.0 21.8 23.0 20.8 25.3 27.2 29.0 31.0 28.1 9.1 10.0 10.3 9.6 11.0 11.6 12.5 13.4 13.1 6.7 0.3 10.3 11.0 11.9 10.6 7.4 7.0 6.9 4.2 5.3 5.0 4.4 4.7 6.4 6.7 5.6 4.3 ton 1043 I in I I IV Year I H ni IV Year 163.3 179.3 181.5 182.7 186.5 182.3 191.8 191.6 179,6 163.1 1828 268.2 173.5 179,9 191.0 178^2 100.1 118.0 119.9 122.4 124.4 121.2 127.3 126.0 122.5 114.6 122.0 111.5 114.0 110.2 122.2 116.8 105.5 114.1 116.7 118.1 119.0 116.9 122.4 121.6 117.1 108.9 117.0 105.5 103.0 113.6 117.1 111.1 78.7 S2.9 83.6 33.4 84.4 83,3 i C 4 84.9 80.0 77.1 821 81.3 87.5 03.8 08.0 90.2 67 7.9 14.5 18.0 20.3 21.7 22.5 20.8 23.0 23.6 23.7 10.5 22.4 11.9 5.6 8.0 12,4 13.7 12.8 13.0 12.9 12.8 13.0 13.1 13,5 12.4 13.0 12.2 12 0 13.2 13.5 1 2 0 5.5 5.3 6.0 6.4 6.0 6.0 6.1 6.6 6.3 3.0 4.2 4.4 4.5 4.2 3.6 5.0 July 1947 NATIONAX INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS 49 T a b l e 4 1 . — N a t i o n a l I n c o m e by D i s t r i b u t i v e S h a r e s , S e a s o n a l l y A d j u s t e d Q u a r t e r l y T o t a l s a t A n n u a l R a t e s , 1 9 3 9 - 4 6 — C o n t i n u e d [Billions o( dollars] 1944 1943 1015 1946 Item II National income—Con tinned 32.0 Proprietors* and rental income > Business and professional „ 13.0 Farm — 12.3 6.9 Kcntal Income of persons Corporate profits and inventory valuation 23.3 adjustment 24.3 Corporate profits before tax... H.O Corporate profits tar liability. Corporate profits after tax . . 10.2 -1.0 Inventory valuation adjustment 3.6 Net interest ._ Addendum: Compensation of general gov ernment employees 23.6 1 HI IV Year 32.3 13.9 12.3 0.1 31.8 14.1 11.5 6.2 32.3 14 11.3 6,3 32.1 14.1 11.8 6.2 24.4 25.2 14.6 10.6 -.8 3.4 24.2 24.8 14.3 10.9 -.7 3.3 22.9 23,3 13.7 10.1 -.9 3.2 25.1 26.0 28.4 II Year in IV Year II III IV 33.7 14.8 12.3 6.5 34.4 14.9 12.8 0.7 33.9 15.3 11.9 6.7 35.6 16.2 12.5 6.8 34.4 15.3 12.4 6.7 37.3 16.3 14.0 7.0 37.3 16.4 13.9 7.0 37.5 17.5 13.1 6.0 37.1 16.7 13.5 7.0 23,7 24.6 14.2 10.4 -.8 3.4 24.4 24.9 14.5 10.3 -,S 3.2 24.0 24.5 14.3 10.2 -.S 3.2 23.2 23.4 13.6 0.8 -.2 3.2 22.4 22.6 13.2 9.4 -.2 3.2 23.5 23.8 13.9 9.9 -.4 3.2 24.0 24.5 13.4 11.1 -.5 a2 24.2 24.7 13.6 11.3 13.0 13.6 8.3 5.3 -.6 3.1 10.7 14.2 17,2 15.6 18.3 16.5 20.2 15.2 19.4 22.0, 27.1 23.1 11,3 0.1 8.0 9.3 11.0 8.6 9.1 11.5 13.5 16.1 12 5 8.9 - . 3 -1.0 - 2 3 -7.3 -8.3 -4,7 3.1 3.2 3.2 3.2 3.1 3.2 25.9 30.4 32.4 34.1 36.0 32.9 35.9 37.0 32.6 35.8 -.S 31 37.7 II 39.4 13.5 14.1 6.9 25.0 III IV 39.2 18.6 13.8 6.8 41.9 10. 15.3 6.8 46. T 41.8 32.0 19.7 17.8 15.2 6.9 7.0 31.1 mo 18,8 Year 21,2 Includes noncorporate inventory valuation adjustment, T a b l e 4 2 . — G r o s s N a t i o n a l P r o d u c t or E x p e n d i t u r e , Q u a r t e r l y , 1939—46 IBillions ot dollars] I Gross national product ., .... * Personal consumption expenditures Nondurable goods ■Gross private domestic investment Producers' durable equipment Change in business inventories.. Net foreign investment O ovemment purchases of goods and services. "War.. Less: Government sales State and l o c a l . . . . . . . . . . ... .. II m IV 21.8 16.6 1.4 7.9 6.3 2.7 .3 1.0 .9 .2 3.2 1.3 .3 1.0 .0 1.9 21.7 10.6 1.7 8.6 6.3 1.5 1.0 1,2 -.7 .2 3.4 1.3 .3 1.0 .0 2.1 22.2 16.6 1.5 8.7 6.4 2.3 1.1 LI .1 .3 3.1 1.2 .3 .9 ,0 1.9 24.7 18.6 2.1 10.1 6.5 24 1.0 1.3 .2 .3 3.4 1.3 .4 .9 .0 2.0 Year 90.4 67.5 6.7 35.3 25.3 9.0 4,0 4.6 .4 .9 13.1 6,2 1.3 3.9 .0 7.9 I II III IV 24.1 16.9 L7 8.6 6.6 36 .8 1.4 1.3 .4 3.3 1.4 .4 1.1 .0 1,9 24.3 17.7 20 9.1 6.6 2,7 1.1 1.6 ,0 .4 3.4 1.4 .4 1.0 .0 2.0 24.4 17.5 1.8 9.2 6.6 3.2 1.4 1.5 .4 .3 3.3 1.4 .5 .9 .0 1.9 27.8 100.6 19.9 73.1 7.9 24 10.7 37.6 6.8 26.6 3.5 13.0 4.6 1.3 6.1 1.6 2,3 .6 1,6 .3 13 0 4.0 1.0 .6.2 2.2 .9 4.0 1.0 .0 .0 7.S 20 Gross national product....... .. ...... Personal consumption espendttures. Durable foods Nondurable g o o d s . . . . . . . . . . . Gross private domestic investment Producers' durable equipment Change in business inventories........ Government purchases of goods and services. Federal War Nonwar Less: Government sales 45.3 23.5 1.4 13.8 8.3 1.0 ,4 .7 —.1 -.4 21.3 19.4 19.0 .6 .1 I.S IE HI Year IV 47.3 49.1 50.9 24.9 25.0 28.2 2.0 1.5 1.0 14.9 15.1 17.4 8.7 8.5 3,6 .2 2.6 .8 .6 .6 •6, 1.1 1.1 .9 .9 - 1 . 4 -.0 -.6 -.6 -.7 22.2 22.0 23.1 20.3 20.3 21.2 20,0 30.2 21.1 .3 .3 .4 ,2 .2 .1 1.7 1.9 1.9 I Year 192.6 50.4 101.6 26.3 1.4 6.5 61.2 16.0 ao 33.9 1.7 4.6 .5 2.0 1.2 3.8 .0 -1.2 -2.2 - . 7 88.6 24,0 31.2 22.1 80.4 220 .4 1.6; .3 .6: 1.9 7.4 II m 1942 | I II in 27.5 18.4 2.1 9.3 7.0 4.1 1,1 1.8 1.2 .3 4.7 28 1.9 .9 ,0 1.9 29.6 20.2 2.7 10.5 7,1 3.8 1.5 2.2 .1 .2 5.4 3.4 2.7 .7 .0 2.0 32.1 36.2 126.3 20.7 22.9 32.3 23 2,6 9.8 11.2 ■ 12.9 44.0 7.1 7.4 23.5 4.8 4.4 17,2 1.7 1.4 5,7 1.9 1.7 7.7 1.2 1.3 3.9 .2 .6 1.1 6.4 8.3 24.7 4,5 6.2 10.9 3.3 5.4 13.8 .7 .8 3.2 ,0 .0 .0 1.9 2.0 7.8 IV Year IV 51.8 62.9 65.5 26.8 27.3 30.9 2.3 1.6 1.5 16.1 16.7 19.3 9.3 9.1 9.1 .7 2.1 1.2 .6 .7 .6 1,4 L4 1.4 .1 - 1 . 3 -.7 -.7 -.3 -.4 24.4 23.8 34.4 22.5 22.7 22.3 22.4 22.0 22$ .4 ,4 .3 .3 .3 .3 1.7 1.0 20 Year r n 210.6 54.7 64.7 110.4 28.2 39.2 1.7 1.6 6.S 67.2 17.1 17.9 9.6 9.6 36 5 2.0 1.9 6.7 .7 .5 2.3 6.3 L6 1.5 -2.0 - . 1 - . 3 -2.1 - . 5 - . 6 96.6 35.0 34.2 89.6 23.1 22.1 88,6 23.1 22.2 .3 .3 1.6 .4 .3 1.2 3,1 20 7.6 in IV I II ni 34.8 20.8 1,7 U.6 7,6 4.1 1.0 1.5 1.7 .2 9.7 7.8 7.1 .8 .0 3,9 38.4 21.8 1.6 12.6 7.7 3.3 .9 1.3 1.0 -.2 13.5 11.5 10.8 ,7 ,1 2.0 41.2 45.3 169.6 22.4 25.9 90.8 22 1.5 6.8 13.1 15.7 53.0 8.0 81,0 7.7 1.9 9.3 .0 3.2 .6 .8 4.7 .8 1.0 .1 - 1 . 3 1.4 .0 - . 2 —.2 16.9 19.6 59,7 15.1 17.0 53.0 H.6 17.1 49.6 2.7 .6 .6 .2 .1 .0 7,6 l.S ZO 1945 1944 1943 I 1941 1940 1939 Item Year 1946 IV Year 62.7 51.0 213.1 29,7 34.0 121.7 1.7 8.0 2.0 IS. 4 21,9 75,3 9.0 9.8 38.4 3.1 9.1 20 .9 3,1 1.1 1.9 7,1 22 .3 - 1 . 2 - 1 . 2 .0 .4 - . 8 19.9 14.0 83.1 18.1 11,7 75.0 18.6 12.4 76.2 .2 1.0 .2 .7 2,2 .8 1,9 8.3 2.3 I 46.8 31.9 2.5 19,3 10. t 5.2 1,5 3.3 1.4 .3 8.9 6.6 7,1 .3 .8 22 II III rv Year 49.3 34.5 3.4 20.8 10.3 6.7 2,2 2.9 ,6 1.6 7.7 6.2 5.8 .5 LI 2.4 51.7 36.1 3.8 21.8 10.5 7.S 2.6 3.3 1.7 1.1 6.9 4.6 4.4 .8 .6 3.4 65.9 41.2 5.2 25,2 10.3 6.3 2.4 3.9 ,0 1,3 7.2 4.2 4.0 ,8 .5 2.9 203,7 143.7 14.9 87.1 41.7 24.6 8.5 124 3.7 4.8 30.7 30.7 21 3 2.4 3.0 10 0 T a b l e 43.—Gross N a t i o n a l P r o d u c t or E x p e n d i t u r e , S e a s o n a l l y A d j u s t e d Quarterly T o t a l s a t A n n u a l R a t e s , 1939-46 [Billions of dollars] 1940 1939 1941 1942 Item in dross national product Personal consumption expenditures.. Durable goods Nondurable goods . Services Gross private domestic investment New construction Producers' durable equipment Change in business inventories — Net foreign investment Government purchases of goods and serv ices Federal ■War Nonwar. Less: Government sales State and local IV II Year 87.1 04.8 88.9 67.4 6.6 35,6 39.3 7.7 4.0 4.3 -.6 .0 91.1 08.4 6.9 36.6 25.9 9.1 3.9, 4-7 .5 LO 94.6 69.2 7.0 30.4 25.8 11.0 4.1 6.2 1.7 1.2 00.4 67.6 6.4 33.6 26.0 8.3 4.0, 4. .2 .7 6.7 35.3 25.5 9.0 4.0 4. .4 .0 96.9 70.0 7.5 36.3 20.2 11.8 4.2 6.6 3.0 1.8 13.2 5.2 LI 4.1 .0 8.0 13.2 6.3 1.2 4.1 .0 7.9 12.6 4.3 1.3 3.4 .0 7-8 13.3 5,4 1.4 3.9 ,0 7.9 13.1 6.2 1.3 3.9 .0 7.0 13.4 6.8 1.6 4.2 .0 7-0 III 98.7 71.8 7.8 37-6 26.4 12.0 4.5; 6.8 1.7 1.6 13.3 6.5 1.7 3.9 .0 7.8 100.6 105.6 100.5 111.9 120.6 72.3 74.1 72.1 76.6 81.7 &3 7.9 9.4 10.3 7.8 37-8 38.7 37.6 39.6 43.3 30.7 27.1 26.6 27.6 33 1 13.5 14.5 13.0 15.6 16.8 4.9 4.6 5.4 6.8 4.7 6.1 7.3 8.0 G.3 6.8 23 2.8 3.0 2.6 3.8 1.1 .7 1.4 1.3 1.6 13.6 6.6 1.8 3,7 .0 7,9 IV 15.0 7.8 3.8 4.0 .0 7.8 Year 13. 6.2 2.2 4.0 .0 7-8 in 18,7 11.2 7.5 3.7 .0 7.6 21.3 13.6 10.7 2.9 .0 7.8 IV II Year in IV Year 130.0 133.6 126.3 140.7 153.8 165.9 178.0 159.6 84.9 85.7 32,3 86.9 88,7 91.0 96.1 90.8 6.6 10.1 6.8 6.8 6.8 9.2 9.3 7.3 46.0 46.9 44.0 49.0 51.2 53.8 57.3 53.0 28.9 39.6 28.5 30.0 30.7 31.4 32.0 31.0 5.0 18.5 17.9 17.2 14.2 12.3 9,3 4.9 25 5.0 3.2 2,3 6.6, 5.7 4.6 3. 4.4 8.3 4.7 3.6 7.1 7.7 6.7 5.2 4.4 1.4 3.9 5.3 3.9 3.6 - . 9 - . 9 ,2 - L 0 - . 2 1.1 3.1 .6 26.0 18.0 1S.2 28 .1 8.0 32.8 24.9 21.7 3.3 .1 7,9 24.7 10.9 13.8 3.2 .0 7.8 39.0 31.3 28.2 3.2 .1 7.T 53.5 46. S 43.4 2,8 .3 7.6 08.2 60.6 63.4 2.4 .2 7-7 78,0 70.4 68.3 2,3 .3 7.0 59,7 62.0 49.0 2,7 .3 7.0 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS 50 July UMT T a b i c 43.—Gross N a t i o n a l P r o d u c t o r E x p e n d i t u r e , S e a s o n a l l y A d j u s t e d Q u a r t e r l y T o t a l s a t A n n u a l R a t e s , 1 9 5 9 - 4 6 — C o n t i n u e d [Billions of dollars] 1943 1944 1946 1945 Item II III Gross national product......... .. .„ 1S3.9 190.5 190. 98,2 101.1 102. Personal consumption expenditures 6. Durable «x>ds „ 6.4 6.7 Nondurable goods 69.0 60,7 61. Services 32.7 33.7 34, Gross private domestic Investment 2.4 3.5 New construction 2.1 1.9 4. Producers' durable equipment 3.6 2-7 1 Change In business Inventories -2,1 -2.4 -2. Net foreign investment -2.5 Government purchases of goods and serv - 1 . 7 ices S5.0 88.4 88.8 federal „ 77-7 81.1 SI. 3 Wei 76.0 S0.1 81.0 Nonwar 2.2 1.5 1.0 .5 Less: QoverameDt sales .7 .5 State and local 7-5 7.3 7.3 IV Year 199.1 104.5 6.4 63.2 34.9 5.1 2.1 4,4 -1.5 2.7 192.6 I0I.6 6.6 61.2 33. S 4.0 2.0 3.8 -1.2 -2.2 92.2 84.8 1.2 .3 7.4 II 293.9 195.9 6.5 63.9 35.6 4.7 2.3 4.8 -2.4 -2.7 95.9 8S.5 88.0 1.6 1.0 7.4 7.4 208.0 169.1 6.7 66.1 36.3 4.5 2.3 5.4 -3.2 -2.9 97.4 00.0 89. G 1.6 1.2 7.4 in IV Year 213.7 112.3 0.8 68.7 36.3 6,7 2.2 5.4 -1.0 -1,2 96.0 88.3 87.8 1.8 1.3 7.7 216.6 114.3 7.1 70.0 37-2 6,7 2.3 5.8 -1.3 -1.6 210.6 110.4 0.8 67.2 30.5 6.7 2.3 53 -20 -2.1 97.1 89.4 89,2 1.3 1.2 7.7 II 221.8 113.2 7.3 73.1 37.8 6.6 2.4 5.9 -2.8 -2.0 96.6 100.0 89.0 92.2 88 0 92.2 1,6 1.1 1.2 1.2 7-5 7.8 HI IV Year II III IV Year 220.2 213.4 197.1 213,1 191.7 197.0 207.5 218.6 203.7' 118.8 121. S 127.9 121.7 134.3 138.2 147.3 151.9 143.7 13.9 16.2 18.2 14.9 8.0 7.4 9.6 7-7 73.2 76.6 79.4 75.3 11.4 83.2 88.9 93.6 87.1 38.1 38.6 39.1 33.4 82,6 41.2 42.1 43.1 41.7 9.1 40.4 22.3 27.0 30.4 24.6 7,6 10.9 12,2 8.9 3.1 18.6 3.2 8.69.3 4.3 2.8 8-7 7.2 11.6 13.2 16.7 12.4 7.1 8.4 7.6 8.7 9.1 4.91 6.4 3.T 2.0 -1.5 ,1 - . 81 - 1 , 2 4.5 2.3 4.8 6,2 6.1 -2.6 .1 1.6 - . 8 3.3 96.4 80.6 56.6 83,1 35.4 30.3 28.6 23.2 30.7 88.6 72.3 46.9 75.0 26.5 20.9 IS. 2 10,9 20. r 88.7 74.3 49.6 76.2 28.5 23.1 17.7 15.8 21.3 3.1 3.3 2.1 1.0 .7 1.0 2.4 1,1 1.2 2,6 2,2 4.2 2.2 3.3 3,01.4 3.0 3,0 9.4 10.4 11.2 10.08.2 8.6 8.3 8,9 7-9 T a b l e 4 4 . — D i s p o s i t i o n o f P e r s o n a l I n c o m e , Quarterly, 1939-46 (Billions oldcUarsl 1942 1941 1940 1939 Item I Less: Personal tax and noDtax payments Equals: Disposable personal income Less: Personal consumption expenditures. II in IV 17.5 .S .4 .4 16.7 15.0 1.1 17,8 .6 .3 .3 17.2 10,6 .5 17.9 .5 .3 .2 17.3 16.6 .7 19.4 .5 .2 .3 18.9 18.6 .3 ♦ Year 72.6 2.4 1.2 1.2 70.2 07.5 2.7 I II III IV 18.0 .9 ,5 .4 17.7 16.9 .8 19.2 .6 ,3 .3 18.5 17.7 .8 19.4 .5 .3 .2 18.9 17.5 1.3 21.2 .6 .3 .3 20.7 19,9 .7 I E<mals: Disposable personal income Less: Personal consumption expenditures 78.3 2.6 1.4 1,2 75.7 72.1 3.7 I 21.3 1.2 .3 .4 20.1 18.4 1.7 n in IV 23.1 .3 .5 .4 22.3 20.2 2.1 24.5 .6 .4 .3 23.3 20.7 3.1 28.5 .6 .4 .3 25.8 32.0 2,9 II III IV Year 35.3 3.3 3.4 ,4 31.0 23,5 8.1 37.1 3,7 3.4 .3 33.3 24.9 3.4 37.0 4.9 4.7 .3 32.6 25.0 7,6 39.5 149.4 5.4 17.8 5.1 16.5 1.3 .3 34.1 131.6 28.2 101.6 5.9 30.0 Year 95.3 3.3 2.0 1.3 92.0 82.3 9.8 I II III IV 26.9 2,5 2.0 .4 24.5 20.8 3.7 29.3 1.3 .9 .4 28.0 21.3 6.2 31.5 1.2 1.0 .3 30.2 22.4 7,9 34.4 122.2' 6.(h 1.0 4.7 .7 1.8 .3 33.4 116. J 25.9 90.8 7.6 25.4 1945 1944 1943 Less: Personal tax and nontax payments Year ■IV Year I II III 39.9 5,2 4.8 .4 34.6 2S.3 9.3 40.9 6.0 5.6 .4 34.9 26.8 8,1 41.2 42.9 164.9 4.4 3.3 18.9 4.1 3.0 17.5 .3 ,3 1.4 315.8 39.7 .146.0 27.3 30.9 116.4 9.4 8.3 36.6 Year 1940 r I II III IV 43.0 8.5 8.0 .5 34.6 28.2 0.3 43.6 4.9 4,5 .4 38.8 29.2 9.6 42.1 3.9 3.6 .3 38,2 29.7 8.6 42.8 171.0 41.6 7.6 3.6 20.9 7.1 3.3 19.4 1.5 .5 .3 39.2 150.7 34.0 34.0 121.7 31.9 2.1 4.5 29.0 Year II III IV Year- 43.3 3.4 3.0 .4 39.9 34.6 5.4 44.6 4.2 3.9 .3 40,3 36.1 4.2 47.8 177.23.6 18.8 3,3 17.2 .3 1.6 44.2 153.4 41.2 143.7 3.0 14. S T a h l c 4 5 . — D i s p o s i t i o n o f P e r s o n a l I n c o m e , S e a s o n a l l y A d j u s t e d Quarterly T o t a l s a t A n n u a l R a t e s , 1939-46 [Billions of dollars] 1941 1940 1939 1942 Item in I Less: Personal tax and nontax payments Federal State and local-... Equals: Disposable personal income „ Less: Personal consumption expenditures II 70,9 2.4 1.2 L2 68.6 64.8 3.7 71.4 72,0 2.4 2.4 1.2 1.2 1.2 L2 69.0 70.2 67.4 68.4 I.S 1.5 IV 75.3 2.4 1.2 1.2 72.9 69.2 3.7 Year 72.6 2.4 1,2 1.2 70.2 67,5 2.7 II III IV 76.1 2.6 1.4 1.2 73.5 70.5 2.6 1.4 1.2 73.9 71.8 2,0 78.6 2.6 1.4 1.2 76.0 72.3 3.7 32.3 78.3 86.7 3.3 2.6 2,6 2.0 1.4 L4 1.3 1.3 1.2 79.7 75.7 83.4 74,1 72.1 76.0 6.8 B.6 3.7 7a o 3.5 Personal Income Less: Personal tax and nontax payments State and local Less: Personal consumption expenditures Equals: Personal saving 143.3 14.6 13.3 1.3 123.7 98.2 30.5 II III n m 92.3 3.3 2.0 1.3 89.0 81.7 7.2 98.7 103.1 3.3 3.3 2.0 2.0 1.3 1.3 96.4 99.8 84.9 85.7 10.4 14.1 IV Year I II m IV Year I II IV Year I 11 III ni 95.3 109.5 117 3 126.5 6.0 3.3 0.0 6.0 2.0 4.7 ' 4.7 4.7 1.3 1.3 1.3 1.3 02.0 103.5 111.3 12a 5 82.3 86.9 83.7 91.6 9.8 16.6 22.6 26.9 IV Year 135.4 122.3 O.O 6.0 4,7 4.7 1.3 1-3 129.4 116.3 96.1 90,8 33.3 25.4 1946 1945 1944 1943 I Year I I IV Year 148.0 351.0 155.3 149.4 101.3 163.5 165.4 169.3 164.9 174.0 174.1 169,9 108.3 171.5 14.7 20.9 21.1 17.8 iao 18.8 18.9 19.0 13.9 21.3 21.2 20.7 20.3 20.9 13.4 19,0 19.3 16.5 17.5 17.6 17.5 17.6 17.5 19.9 19.8 19.2 13.7 19.4 1.6 1.5 1.4 1.3 1.3 1.5 1.6 1.5 1,4 1.4 1.4 1.3 1.4 1.3 133.3 130.1 134.2 131.6 142.4 144.7 146.5 150.3 146.0 152.7 152.9 149.2 148.1 150.7 101.1 102.7 104.5 101.6 105.9 109.1 112.3 114.3 110,4 118.2 118.8 121.8 127.9 121.7 32.3 27.4 29.7 30.0 36.5 35.6 34.2 35.9 35.6 34.5 34.1 27.4 20.1 29.0 I II III IV Year 168.7 172.5 179.5 187,5 177.2 17.8 18.7 19.1 19.5 18.8 16 3 17.1 17.5 17.9 17.2 1.6 1.6 1.6 1.6 1.6 150,9 153.8 160.4 1680 158.4 134.3 138.2 147.3 154.9 143.7 16.6 15.6 13.1 13.1 14,8 July 194T NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS 51 Table 46.—Belatioa of Grass National Product, National Income, and Personal Income, Quarterly, 1939-46 [Billions of dollars] I II HI IV 90.4 8.1 9.4 .5 .6 24.1 3.1 2.3 .1 .0 34.4 2.1 2.6 ,1 -.6 .1 10.4 .5 72.5 .1 18.0 24.2 2.1 2,6 .1 -.2 .1 19.9 1.8 .6 .0 .6 .3 1.4 .1 10.4 5.8 2.1 .0 2,5 1.2 3.8 .5 72.6 1.7 .6 .0 .7 .3 .3 .1 18.6 2.2 .6 .0 ,7 .4 .9 .1 19.2 27.8 100.6 8.4 2.2 2.6 10.0 .4 .1 .7 •8 .1 .4 22.3 8L3 9.2 3.0 2.3 .6 .0 .0 .6 3.7 .3 1.3 4.0 1.4 .4 .1 78.3 31.2 I •Grossnational p r o d u c t , . . . . . . . ...... Less; Capital consumption allowances Indirect business tax and nontax liability.. Business transfer payments Plus: Subsidies less current surplus of governEquals: National Income Xess: Corporate profits and inventory valua tion adjustment— Contributions (or social insurance Excess ofwoge accruals over disbursements. Plus: Government transfer payments Net interest paid by government Dividends II HI IV 21.8 2.0 2.2 .1 .2 21.7 2.0 2.3 .1 -.3 22.2 2.0 2,4 .1 -.3 24.7 2,1 2.4 .1 .0 .1 17.3 .1 17.7 1.1 .5 .0 .6 .3 .8 .1 17.5 1.2 .5 .0 .6 .3 .8 .1 17,3 .1 18.1 1.6 ,6 .0 .6 ,3 .8 .1 17.9 Year I Plus: Subsidies less current surplus ot govemless: Corporate profits and inventory valuaContrlbutions for social insurance Excess of wage accruals over disbursements. Phis: Government transfer payments Dividends : Business transfer payments Year II III IV 453 2.6 3.0 .1 -.3 47.3 2.5 3.1 .1 —.5 49.1 2,7 3.2 .1 ,5 .0 40.0 .0 42.1 .1 42,6 60.9 192.6 2.8 10.6 3.3 12.7 .5 .1 .7 1.2 .2 .1 43.6 168.3 5.0 1.1 .0 .6 .4 1.0 .1 35.3 6.2 1.1 .1 .5 .6 1.0 .1 37.1 6.1 1.2 .1 .6 .5 1.0 .1 37.6 5.8 23.7 4.5 1.1 .2 .0 2.6 .6 2.1 .6 1.4 4.6 .1 .5 39.6 149.4 Year II III IV 36.2 125 3 34.8 2.4 2.4 9.3 3.0 It. 3 2.0 .1 .1 .6 l.S .5 - . 3 38.4 2.5 2.9 .1 .2 41.2 2.5 3.0 .1 ,1 46.3 159.6 2.5 0.9 3.1 11.8 .1 .5 1.0 1.1 -.1 29,6 .0 32.7 ,2 .0 33.5 136.5 4.0 .8 .0 ,7 .3 .0 .1 26.0 4.8 .8 .0 .7 .4 1.0 .1 29.3 .2 35.7 5.4 .9 .0 .7 .3 1.0 .1 31.5 I II III IV 27.5 2.2 2.6 .1 -.3 29.6 2.3 2.8 .1 -.0 32.1 2.4 2.0 .1 -.2 .0 22! 9 25.3 .0 26.0 3.7 .7 .0 3.8 .7 .0 .6 .3 1.0 .1 24.5 .0 .1 28.8 103.8 4.2 14.6 .7 2.8 .0 .0 .6 2.6 .3 1.3 4.5 1.5 .5 .1 95.3 26.5 2.9 .6 .0 .7 .3 .9 .1 21.3 :I 1.0 .1 23.1 Year I 1046 1944 1943 Less: Capital consumption allowances Indirect business tax and nontax liability.. .1 20.2 2.3 .6 .0 .7 .3 .0 ,1 19.4 1942 1941 1940 1930 n III IV 55.5 310.6 3.0 11.8 3.7 U.O .1 .5 2.2 2.0 54.7 3.1 3.0 .1 .4 54.7 3.2 3.8 .1 —.4 52.7 3.0 3.9 .1 1.2 ,7 .3 40.6 182.3 5.6 23.5 5.2 1.3 .0 - . 2 3.1 .8 2.8 .7 4,7 1.5 ,5 .1 43.0 164.0 .2 47.6 .0 43.1 .2 44.7 5.0 1.6 .0 .0 .8 1.0 .1 43.0 6.1 1.6 .0 1.0 1.0 1.1 .1 43.6 4.4 l.S .0 1.2 .9 1.1 .1 42.1 II III IV 50.4 2.8 3.1 .1 .0 51.8 2.9 3.5 .1 -.2 63 0 3.0 3.7 .1 .5 .2 44.4 ,2 45.5 .1 45.7 6.0 1.3 —.2 .7 .0 1.0 .1 39.9 6.1 1.3 .0 .8 .7 1.1 .1 40.9 59 1.3 .0 .8 .7 1.1 .1 41.2 Year 5.7 19.8 .9 3.5 .0 .0 .6 2.7 .4 1.5 1.4 4.3 .1 .5 34.4 122.2 1946 I I Year II HI IV 51.0 213.1 46.8 2.8 12.1 2.7 4.0 4.1 16.3 .1 .1 .0 1.9 3.1 - 1 . 2 49,3 2.7 4.1 .1 -.7 51.7 2.8 4.3 .1 -.4 55.9 203.7 2.9 U.O 4.4 16.0 .1 .6 .2 —2.1 .4 .8 42.5 182.8 .4 41.6 .5 43.5 ,0 44.9 .0 .3 48.2 178.2 3.3 19.7 8.1 1.5 .0 .0 2.5 5.6 1.0 3,7 1.5 4.8 .1 .6 42.8 i n . 6 3.5 1.7 .2 3.0 1.1 1.3 ,1 41.6 4.3 1.6 -.2 2.8 1.3 1.3 A 43.3 3.0 1.5 ,0 2.6 1.0 1.3 .1 44.6 4.7 16,5 1.3 6.0 ,0 .0 2.5 10.8 1.1 4.5 1.9 5.6 .1 .5 47.8 177.2 Year I Year Table 47.—Relation of Gross National Product, National Income and Personal Income, Seasonally Adjusted Quarterly Totals at Annual Rates, 1939-46 [Billions o[ dollars] 1930 1041 1940 Item II III IV 87.1 8.0 0.2 .4 -1.5 88.9 8.1 9.3 .5 ,4 91,1 8.1 9,4 .5 .7 94.0 8.2 0,5 .5 2.5 .4 71.4 .5 71.2 5.6 2.1 .0 2.5 1.2 3,7 .6 71.4 .6 73.0 6.3 2.2 .0 2.5 1.2 3.9 .5 73.0 I Ind irect business tax and nontax liability- - Statistical discrepancy Plus: Subsidies less current surplus of governEquals: National income Less: Corporate profits and inventory valua tion adjustment . . .... Contributions lor social Insurance Excess of wage accruals over disbursements. Plus: Government transfer p a y m e n t s . . . . . . . . . . Net interest paid by government Dividends . Business transfer payments S.8 3.0 .0 2.0 1.1 3.3 .4 70.9 II in m IV I m I II 90.4 8.1 9,4 .5 .5 90.9 8.2 9.6 .4 1.7 .4 74.4 .5 72,5 6.3 2.3 .0 2.4 1.3 4.3 .5 75.3 5.8 2.1 .0 2.5 1.2 3.8 .5 72,0 .5 77.5 7.9 2.2 .0 2.7 1.3 4.3 .4 76,1 98.7 100.6 105.6 100.5 111.9 120.6 130.0 138.6 125.3 140.7 153.8 105.9 178.0 159.6 8.7 9.2 9.6 8.5 8.4 0.0 8.8 0.5 9,3 9,8 10.0 10.9 10.0 8.3 9.0 10.2 10.4 10.0 10.8 11.2 11.3 11.9 11.3 11.9 11.5 11.8 13.0 11.8 .4 .5 ,5 .4 .6 ,5 .5 .5 .4 .5 .4 .5 .5 .2 3.6 2.1 .7 - 1 . 5 - 3 . 3 1.3 .5 - 1 . 9 .2 .5 1.1 1.4 2.2 ,5 .4 .2 .3 .3 .1 .1 - . 1 .1 - . 3 .7 .5 .1 .0 79.9 SI. 8 86.1 81.3 93.0 101.2 107.6 112.9 103.8 120.1 130.5 143.2 152.7 130.5 Year 9.5 2.2 .0 2.8 1.3 3.8 .4 76.5 1943 I II 1042 HI 9.5 2.3 ,0 2.7 1.3 4.0 .4 78.6 IV 9.8 2.4 .0 2.6 1.3 4.3 .4 82.3 Year 0.2 2.3 .0 2.7 1.3 4.0 .4 78.3 I 13.0 2.5 .0 2.7 1,3 4.2 ,6 86.7 15.0 2.7 .0 2.0 1.3 4.3 .5 92.3 1044 rv Year I II HI 14.8 15.7 2.0 3.0 .0 .0 2.6 3.6 1.3 1.3 4.5 4.6 .6 .5 98.7 103.1 Year II Year I U m 1946 IV Year I n m Gress national product 183.9 190.6 196.7 100,1 192.6 203.0 208.0 213.7 210.6 210.6 221.8 220.2 213.4 107.1 213.1 101.7 197,0 307.5 Less: Capital consumption allowances 10.1 10.6 10.7 11.0 10.6 11.4 11.7 11.9 12.1 11.8 12.4 12.0 11.9 11.2 12.1 10,7 10.9 11.1 Indirect business tax and nontax liabtl I t y . . . 12.6 12.5 12.8 12.0 12.7 12.9 14.1 14.4 14.7 14.0 14.8 16.2 15.3 16.0 15.3 16.0 16.3 17.4 .5 .6 .0 .5 .5 .6 .6 ,6 .6 .6 .5 Business transfer payments ........... .5 .6 .5 .0 .6 .6 .5 .8 4.6 .5 Statistical discrepancy 1.7 ,7 4.5 2,6 2,8 .2 6,9 2.7 -.8 -.7 2.7 3.1 - 2 . 1 —2.4 - 1 . 5 Plus: Subsidies less current surplus ot govern. .7 .2 .0 .6 .8 .7 .6 .2 .1 .3 .3 ment enterprises 1.7 1.9 - . 2 .8 1.5 .8 ,0 161.7 167.7 170.3 173.3 168.3 179.3 181.8 182.7 185.5 183.3 191.8 191.6 179.5 168.1 182.8 168.2 173.6 170.9 Equals: National income Less: Corporate profits and inventory valua23.3 24.4 24,2 22.9 23.7 24.4 24.0 23.2 22,4 23.5 24,0 24.2 17.6 13.0 19.7 14.2 17.2 15.fi 4.0 4.0 4.5 4.7 5.1 5.3 5.4 5.2 0.6 6.8 6.2 6.2 6,1 4.1 4.4 Contributions for social Insurance 6.4 5.8 6.3 .3 .0 .8 - . 0 .0 .0 .1 .3 .3 - . 8 .0 ,0 —.2 .0 .0 .0 .3 Ercessofwageaccruetsoverdisbursoments. .0 3.0 2.5 3.1 4.2 2.5 5.6 11.9 11.0 10.4 2.6 2.6 3.1 3.2 3.4 0.0 3.0 2.4 Plus: Government transfer payments 5.0 2.5 3-2 4.4 2.8 3.5 1.9 3.7 2.7 3.1 2.4 2,1 2.9 4.6 3.3 3.3 4.1 2,1 Net interest paid by government............ 4.6 4.5 4.5 4.7 4.7 5.1 4.3 4,8 4.6 4.7 4.5 4.6 4.7 4.0 4.9 4.7 5.4 4.5 5.6 .5 .5 .5 .6 .0 .5 ,6 .5 .0 .6 .6 Business transfer p a y m e n t s . . . . . . . . . . . . . . . . .6 .6 .5 .0 .6 .6 .6 164.9 174.0 174.1 169.9 168.3 171.6 163.7 172,5 170,5 143.3 148.0 151.0 166.3 149.4 161.3 163.5 166.4 Equals: Personal i n c o m e . . . . . . . . . . iea 3 Year 14.6 16.9 19,0 31,1 22.3 19.8 3.1 2.8 3.6 3.0 3.3 3.3 .0 .0 .0 .0 .0 .0 2,7 2.9 2.6 3.0 2.5 2.7 1.5 1.6 1.7 1.5 1.3 1,3 4.4 4.6 4.5 4.3 4.2 4.3 .5 .6 .6 .6 .5 .5 95.3 109.5 117.3 126.5 135.4 122.2 1945 IV IV IV Year 218.6 203,7 11.5 11.0 17,7 16.9 .5 .5 -2.1 -2.1 -.1 .8 191.0 178,2 18. S 16.5 5.3 6.0 .0 .0 9.8 10.8 4.6 4.6 6.9 5,6 .6 .6 187.5 177.2 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CUItEEHT BUSINESS 52 July 1MT T a b l e 48.—Personal I n c o m e , Seasonally A d j u s t e d M o n t h l y T o t a l s a t A n n u a l R a t e s , 1 9 2 9 - 4 6 ' [Billions or dollars] Wage and salary receipts Persona) income 1920: January February Mareb. April May June July. August.. September October November December Total 1930: January February.-,.March April „ May Juno July August September October November December Total 1931: January February Mareh April May June July August September 85.1 £1.6 85.2 85.3 84,5 85.1 80.3 , Wage and salary disbursements Total 49.2 49.3 49. G 49.6 49.9 50.4 50.3 Commod Distribu Total ity pro disburse tive in ducing dustries i ments industries > Service indus tries 1 Goveram is tit 1 t! 40.4 49.4 49.7 40.7 50.0 60. S 50.5 51.2 51.1 50.7 49.9 49.1 50.2 21.3 21.3 21.3 21.4 21. S 21.9 21.0 22.1 22,1 21.7 21.1 20.4 21.5 15.2 15.2 15.4 15.3 16.5 15.0 15 7 15,3 15.7 13.7 15,6 15.6 16.5 8.1 8.1 8.1 8.1 8.1 3.1 &2 8.2 8.2 8.2 8.2 8.1 8.2 Less nxaployec contribu tions ror social in surance* Divi dends Propri Otbtsr etors and and per Transfer pay Ia h or sonal rental l n a , n e ' income' interest ments* iucomo > Income* .5 .5 13.6 13.5 13.6 13.5 13.4 13.4 13.4 13.4 13.4 13.5 13.4 13.3 13.3 1.6 1.6 1.5 1.5 1.6 1.5 1.5 1.5 1.4 1.6 1.5 1.5 1.5 76.* 76.2' 76.7 76,5 76. S 77.2 77,4 73.078.2 77,9 76.1 75.2 76.8 5.1 5.1 3.0 5.0 5.0 0.5 .5 .5 .5 .5 .5 .6 .3 .5 .5 a cultural 20.3 10.7 20.1 20.1 19.2 19.3 20.6 20.4 20.1 20.2 18.4 18.5 10.7 0.2 .1 .1 .1 .1 .1 .2 .1 .1 .1 .1 .1 .1 5.0 6.1 Konsgri- 86.9 86.4 80.3 83.0 82.8 85.1 _ - — — — October November December Total 1632: January February — Mareh April May June July August September October November December Total 1933: January .... ....—.„..., February March April May June July August September October November December Total 1931: January— — February March April May June July. AugustSeptember October November December.——.—„ Total v 1935: January Elobruary . March April May Juna July August See footnotes a t end of t a b l e , 51.1 51.0 50.0 49.8 49.0 50.0 81.7 86.9 79.0 80.0 78.0 77.5 75.3 74.3 73.7 72.4 70.0 69.3 76.2 48.3 48.0 47.6 47.3 47.0 46.7 45.6 44.7 44.6 43.7 43.0 42.4 45.7 48. S 43.1 47.7 47.4 47.1 46 8 45.8 44,9 44.7 43.9 43.1 425 45.9 20.2 10.0 19.5 19.4 10.2 10.1 18.4 18 0 17.0 17.3 10.9 10.4 18.5 15,3 15.1 15,1 15.0 14.0 14.7 14.4 14.0 14.0 13.8 13.6 13.5 14.4 3.0 8.0 8.0 7.9 7.0 7,8 7.8 7.7 7,6 7.6 7,4 7.4 7.7 6.0 5.1 5.1 5.1 5.1 5.2 52 52 5.2 53 5.2 5.2 52 .2 .1 .1 .1 .1 .1 .2 .2 .1 .2 .1 .1 .1 .5 .6 .5 .5 .5 .5 .5 .5 .5 .5 .5 .5 .5 13.1 17.7 10.9 17.7 17.0 16.1 14.9 15.0 14.7 14.4 13.5 13.1 15.7 13.2 13.1 13.1 13.0 12.9 12.3 12.8 12.6 12.4 12.2 12.0 11.8 12.6 1.0 1.6 1.5 1.5 1.5 1.4 1.5 1.5 1.5 1.0 1.6 1.7 1.6 74.3 73.6 73.0 72,7 71. S 71.1 60.8 68.5 67.9 67.0 65.5 64.5 70.0 GS.5 08.1 72.0 72.4 07.7 65.4 64.4 03.2 61.0 50.9 59.2 57. S 04.8 41.4 41.3 41.5 40.7 40.2 39.5 38.8 38.0 37.1 36.0 35.0 35.0 38.7 41.6 41.4 4L0 40.8 40.3 39.7 39.0 38.1 37.2 36.2 36.0 35.2 38.9 16.0 15.8 16.8 15.4 15.1 14.7 14,3 13.3 13.2 12 6 12.13 12.3 14.3 13.2 13.2 13.3 13.0 12,0 12.8 12.0 123 12.1 11,8 11.7 11.3 12.5 7.2 7.2 7.2 7.1 7,0 6.0 6.8 6,7 6.6 6,5 6,4 6.3 6.8 5.2 5.2 5.3 3.3 5.3 5.3 3.3 5.3 5.3 5.3 53 5.3 5.3 .2 .2 .1 ,1 .1 .2 .2 .1 .1 .2 ,1 .2 .2 .5 .6 .5 .5 .5 .5 .5 .6 .5 .5 .4 .6 .6 13.1 13.1 13.2 13.8 12.8 12.0 11.3 10.7 10.5 10.7 10,4 10.0 11.8 11.6 11.5 11.6 11,5 11.4 11.3 11.2 11.0 10.0 10.7 10.5 10.2 11.1 1.9 1.8 5.3 5.9 2.8 2.1 2.1 2.0 2.0 2.0 20 2.1 2.7 63.6 63.4 66.6 67,(► 62.4 60.8 59.6 57.9 56.7 65.6 54.0 63.8 60.1 56.0 55.3 53.7 52.4 50.7 48.3 46.9 40.4 46.2 45.5 45.3 44.6 40.3 34.3 33.6 32.8 31. S 30.3 29.7 23.4 23.1 28.3 23.4 28.3 27.7 30.1 34.5 33.8 32.9 32.0 30.0 29.9 23.6 28.3 23.4 23.6 28.4 27.8 30.3 12.0 11.7 11.1 10.6 0,0 9.4 9.0 8.9 9.1 9.3 9.3 9.0 9.9 11.1 10.8 10.0 10.3 10.1 9,7 9.3 9,1 9,1 9.1 9,0 8,8 9.3 &2 6.1 6,0 5.9 5.8 5,7 5.5 5.5 5,4 5.2 5.2 5.2 52 5,1 5.1 4.3 4,8 4.3 4.8 4.8 4.8 5.0 .2 .2 .1 .2 .1 .2 .2 .2 .1 .2 .1 .1 .2 .5 ,4 .4 .4 .4 .4 .4 .4 .4 .4 .4 ,4 .4 9.8 9.5 8,6 8.4 7.8 6.S 6.6 6.7 6.8 0.3 6.1 5,3 7.4 9.9 9.9 9.8 9.7 9.6 9.4 9.2 8.0 8.6 3.3 8.4 8.5 9.1 21 2.1 2.1 21 2.1 2.0 2.3 2.3 2.1 2.1 2.1 2.2 2.2 52.4 61.3 49.0 48.7 47.4 45,7 44.3 43.9 43.5 13.1 42.8 42.1 40,2 44.9 43. S 42,6 43,0 45.7 47.0 48,5 48.2 48,2 48,1 48.4 50.0 46.0 27.5 27.1 20.1 20.2 26.8 28.0 23.0 30.0 8.0 87 8.0 8.2 8.7 9.5 10.2 11.0 11.2 11.0 10,9 10.7 9.8 8,8 3.6 8,3 5.1 50 4.0 4.9 4.0 .2 .1 .1 .2 .2 .1 .2 ,2 .1 .1 .2 .1 .2 .4 .4 .4 .4 .4 .4 .4 .4 .4 .4 .4 .4 .4 6.1 3.5 3.2 0.3 3.0 3.6 0.5 7.8 7.5 7.4 7.3 7,6 7.2 8.6 8.3 8,5 8.4 8.3 8.2 8.1 S.I 8,0 8.0 8.1 8.1 8.2 2.3 2.3 2,4 2.3 2.2 2.4 1.9 1.0 1.9 1.9 2.0 2.0 2.1 42 0 41,3 40.0 40.6 . 30.0 31.0 28.7 27.7 27.2 26.2 26.4 27.0 28.1 28.8 30.2 30.5 3d 5 30.8 32.0 28.8 61.5 52.2 52.9 52.0 53.5 63.-4 54.6 53.7 52.9 S3.2 53.4 54.0 53.2 33.2 33.6 33.S 33.3 33.9 33.4 33.2 33.3 32.6 32.0 33.2 33.6 33.4 33.4 33.8 33.0 33.6 34.1 33.6 33.4 33.6 32.7 33.1 33.3 33.8 33.6 11.1 11.9 12.3 12.7 12.9 12.6 12,1 12.1 11.3 11.5 11.7 12.2 12.0 7.7 8.2 8.2 8.2 8.3 8.4 8.6 8.0 8.6 8.7 8.7 8.7 8.6 3,6 2.0 2.0 2.1 2.2 2.3 2.2 2.2 2.2 2.2 2.S 2.3 2.4 2.2 41.5 42.0 43.3 44.4 44.6 44.6 44.7 46.4 43.0 48.2 48.7 49.3 40.1 40.0 49.5 40.4 49.8 48.8 49.3 49.8 50.5 49.6 53.4 56.8 37.3 58.7 59,1 69.3 69.7 60.9 34,7 33.3 35.3 35.7 35.8 35.8 30.1 36.6 34.9 35. S 36.5 35.9 36.0 30.0 30.3 30. S 12,7 13.3 13.2 13.4 13.3 13.3 13.2 13.6 8.6 8.5 84 3.4 8.4 8.4 8.4 8.5 2,5 2,4 2.4 £* 2,3 2.3 3,3 2.4 51.6 62.3 52,2 62.0 62.7 62.6 62.8 63.0 sat 30.4 3 + 53 5.2 3.7 .! 8.5 8.6 9,0 9.2 9.3 9.3 9.1 8.8 50 5.2 5.1 4.9 4.0 6.0 4.0 3.0 6.1 4.0 5.0 4.0 5.0 5.4 7.0 5.2 9.6 9.7 0.8 9.9 10,0 0.9 10,0 9.0 53 5.4 54 5,5 5.0 5,5 5.6 5.5 5,5 6.5 5,5 6.0 5.5 7.5 68 6.4 5.4 5.6 5.6 6.3 6.0 5.9 6.0 6.2 0.1 6.1 .2 .2 .1 .2 .2 .2 .3 .3 .1 .2 .1 .2 .2 ,4 .4 .4 .4 .4 .4 .4 .4 ,4 .4 ,4 .4 .4 5,6 57 57 5.7 57 5.7 6.8 5.8 64 6.2 6.2 6.3 6.4 6.3 6.5 6.5 .2 .2 .2 .2 .2 ,2 .2 .2 .4 .4 ,4 .4 .4 .4 .4 .4 a4 3.4 . mo 10.1 0.9 9.9 9.0 10.2 10,3 10.4 1ft 6 10.0 10.7 10.8 10.9 5.1 5.2 5,2 5.2 52 ao S.4 8.4 8.5 8,0 9,6 9.2 0.0 8.0 8,8 9.0 8.7 0.3 10.2 10.3 11.8 12.2 12,4. 12.5 13.0 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS July 1947 53 Table 48.—Personal Income, Seasonally Adjusted Monthly Totals at Annual Rates, 1929-46—Continued [Billions of dollars! Wage a n d salary disbursements Personal income Total 1935—Continued 37.0 37.2 37.9 38.0 36.5 13.8 13.7 14.0 14.5 13.5 11.0 11.0 11.0 10.9 10.7 5.8 5.8 59 6.0 6.8 6.4 6.7 7.0 7.5 6.5 0.2 ,2 .2 .2 .2 0.4 .4 .5 .6 .4 13.2 13.4 13.6 13.5 12.1 8.5 8.6 8.7 3.9 8.6 2.4 2,5 2.4 2.3 2.4 54.0 54.6 55.3 56.4 53.4 64.6 65.3 65.3 67.0 68.0 78 0 75.3 71.6 71.2 71.6 72.8 73.7 70.6 39.2 39.5 30.8 40.6 41.3 41.7 41.9 42.1 42.1 42.6 43.5 44.3 41.6 39.4 39.7 40.0 40.8 41.5 41.9 42.1 42.3 42.3 43.3 43.7 44.5 41.8 14.4 14.4 14.6 15.2 15.7 15.9 16.0 16.2 160 16.2 16.9 17.3 15.8 11.2 11.4 11.4 11.5 11.6 11.7 11.8 11.8 12.0 12.1 12.2 12.2 11.3 6.0 6.1 6.1 62 6.3 8.4 6.4 6.4 G.4 64 6.5 6.6 6.3 7.8 7.8 7.9 7,9 7.9 7.9 7.9 7,9 7.9 8.1 3.1 7.9 7.9 ,2 .2 .3 .2 ,2 .2 .2 .2 .2 .2 ,2 .2 .2 .5 .5 .5 .5 .5 .5 .5 .5 .5 .5 .5 .5 .5 13.6 13.8 14.1 14.4 14.4 16.0 15.5 16.5 15.3 15.2 15.0 15.6 14.8 9.1 9.3 9.3 9.4 9.8 10.1 10.4 10.6 10.7 10.8 10.8 10.8 10.1 3,2 2.2 2.1 2.1 2.0 11.6 7.0 2.0 2.8 2.5 3.4 2.6 3.5 57,1 67.3 58.4 59.3 60,7 71.1 67 1 83.4 63 2 72.6 73.0 74.9 75.3 75.7 76.4 75.5 75.9 74.3 73.0 71.3 69.4 74.0 ...... 43.6 44.5 43.2 46.2 46.0 46.8 46.6 46.8 45.9 46.2 44.1 42.7 46.4 44.3 46.1 45.8 46.3 47.5 47.4 47.2 47,4 46.5 45. S 44.7 43.3 45.9 17.5 18.1 18.4 19.2 19.7 19.5 19.4 19.6 18.6 17.9 17,1 13,3 18.4 12.4 12.0 12.0 13.0 13.2 13.3 13.3 13.5 13.5 13.5 13.3 13.1 13.1 6.S 6.7 6.8 6.9 6.9 7.0 7.0 7.0 7.0 7.0 6.9 0.9 6.9 7.7 7.7 7.7 7.7 7.7 7.0 7.5 7.4 7.4 7.4 7.4 7.5 7.5 :8- :S .0 .6 .6 .6 .6 .6 .6 .0 .6 .6 .6 15.2 15 3 16.8 15 3 15.3 18.1 15.7 16.0 15.6 15.2 14.8 14.3 15.4 10.8 10.9 10.9 10.9 10.7 10.0 10.3 10.2 9.9 9.7 9.5 9.3 10.3 2.5 3.4 2.6 3.4 2.3 2.4 2.4 2.4 2.4 2.4 2.4 2.6 2.4 85.1 66.2 .5 .5 .5 ,3 .5 .5 .6 .5 .5 .5 .6 68.5 68.4 68.2 67.3 67.0 67.2 67.4 63.5 63.8 63.8 69.6 69.0 63.3 41.6 41.7 41.5 41.6 41.4 41.4 41.6 42.4 43.0 43.9 43.7 44.2 42.3 432 42.2 42.0 42.1 41.9 41.0 42.2 43.0 43.6 43.5 44.3 44.3 42.8 16.0 15.2 15.0 14.8 14.7 14.6 14.7 13.3 16.7 13.6 16.2 16.0 15.3 12.9 12.7 12.6 12.7 12.5 12.4 12.4 12.4 12.6 12.0 12.7 13.8 12.6 0.8 0.7 6.6 6.6 5.6 66 6.7 6.6 0.7 6.6 0.7 0.7 6.7 7.5 7.6 7.8 8.0 S.l 8.3 8.4 8.6 8.6 8.7 8.7 8.7 8.2 .6 .5 .5 .6 .5 .5 .6 .5 .6 .6 .6 .0 .8 .5 .5 .5 .3 .5 .6 .5 .5 .3 .6 .5 .6 .5 14.7 14.4 14.2 13.6 13.5 13.8 13.9 14.1 14.0 14.2 14.2 14.0 14.0 9.1 9.0 8.9 8.7 8.7 8.6 3.0 8.6 3.5 8.4 8.4 8.4 &7 2.0 2.8 3.1 2.0 2.9 2.0 3.3 2.0 2.8 2.8 2.7 2.8 2.8 70.6 70.6 71.6 70,6 71.6 71.8 71.4 72.6 73,8 74.6 75.5 76.0 72.3 44.2 44.2 44.3 43.0 44.4 45.0 44.7 45.2 45.6 46.3 46.7 47.1 45.1 44.3 44.8 44.9 44.5 45.0 45.6 43.3 46.8 461 46.9 47.3 47.7 46.7 16.7 16.3 16 7 16.4 166 17.1 17.0 17.5 17.8 18.2 18.3 18,7 17.4 12,9 12.9 12.9 12.9 13.1 13.2 13.2 13.3 13.5 13.7 13.7 13.8 13.3 6.7 6.7 6.8 6.8 6.9 7.0 7.0 69 7.0 7.0 7.0 7.1 0.9 8.5 84 8.5 8.4 8.4 8.3 8.1 8.1 7.3 8.0 8.1 3.1 8.2 .6 .6 .6 ,6 .6 .6 .6 .6 .6 .0 .6 .6 .6 .5 .5 .5 .5 .3 .5 .5 .5 .5 .5 .3 ,3 .5 14.6 14.5 14.7 14.2 14.5 14.1 14.1 14.5 15.3 16.3 15.6 IS. 5 14.7 8.4 8.6 3.8 9.1 9,1 9.2 0.3 9.3 9.5 9.6 9.S 9.9 9.2 2.9 2.0 3.2 2.9 3.0 3.0 2.9 3.1 3.0 2,9 2.0 3.0 3.0 76.0 76.5 75.9 75.9 7a 6 77.0 77.6 78.8 79.5 81.1 SI. 8 84.0 78.3 47.0 47.0 47.0 47.3 47.8 48.1 43.5 49.4 49.9 30.5 51.5 53.3 48.9 47.7 17.0 47.6 47.8 43.4 48.7 40.2 50.0 60.6 51,2 52.2 53.0 49.6 18.6 18.4 18.2 IS. 3 18.7 19.0 19.3 20.0 20.4 20.7 2L6 22.8 19.7 13.8 13.8 13.8 13.8 14.0 14.1 14.2 14.3 14.5 14.4 14.6 14.9 14.2 7.1 7.1 7.2 7.3 7.3 7.3 7.3 7.2 7.3 7.4 7,3 7.3 7.3 8.2 8.3 8.4 3.4 8.4 8.3 S.4 8.5 3.4 3. 7 8.7 8.9 8.5 .7 .6 .6 .6 .6 .8 .7 .6 .7 .7 .7 .7 .7 .6 .6 .6 .6 .6 .0 .6 .6 .6 .6 .6 .0 .6 15.4 10.0 9.7 9.4 9.1 9,2 9.3 0,4 9,4 0.5 0.6 0.3 0.5 9.4 3.1 3.2 3,2 3.1 3.2 3.2 3.2 3.3 3.0 3.0 3.0 3.0 3.1 85.4 86.9 87.9 89.2 93.3 95.3 90.8 09.3 100.1 101.0 102.0 106.3 95.3 53.9 54.0 55,6 68.7 53.8 61.0 63.2 63.5 64.3 65.2 85.8 63,5 00.9 54.6 65.6 56.3 57.4 69.6 61.8 63.0 64.3 65.1 66.1 68.5 69.4 61.7 23.3 24.0 24.3 24.4 26.1 27.6 23.3 19.1 29,7 30,3 30.6 31.4 37,5 14.7 15.0 15.1 15.6 15.9 16.3 16.6 16.8 16.3 16.9 16.9 18.3 16.3 7.6 7.5 7.5 7.7 7.7 7.8 7.9 7.9 3.0 8.1 3.1 8.1 7.8 9.1 9.1 0.4 9,7 9.9 10.1 10.2 10. S 10 6 10.8 10.9 11.6 10.2 .7 .7 .7 .7 .8 .8 .8 .8 .3 .9 .9 .0 .3 .6 .6 .0 .6 .6 .6 .6 .6 .6 .6 .6 .6 .6 9.5 9.6 9.6 9.6 9.7 9.3 9.S 9.9 10.0 10.0 10.0 10.1 0.9 3.2 3.2 3.2 3.1 3.1 3.1 3.1 3,1 3.0 3.0 3.0 3.2 3.1 77.9 70,0 80.0 80.8 33.4 85.9 87.4 89.2 00 1 „ 107.9 109.0 III. 5 88.7 69.9 72.1 69.6 70.8 73.1 32.4 33.2 34.6 17.5 17.6 17.5 8.1 8.1 8.3 11.6 12.0 12.8 .9 .9 1.0 .6 .6 .6 10.1 10.0 9.9 3.4 3.3 3.4 95.0 97.1 99.6 —- 1937: January February April June July. August _ .. . . . ... ......... .. ... .....__._..-_....---.-__. . ..... .- October. Novem b o r . . . . . . . . . . . . . . . . . . . . Total 1939: January-.--. March April Juno July. October November. „ ................ ..... .. ...................... ........ .. Total 1940: January..... February March...... April Juno .... July. August September October 1941: . ........... .. . .............. Total April September October November _ „ . Total 1912: March... Nonagricultural income • 38.3 37.0 37.7 33.7 36.3 July. November. December... Total 1938: January...., February. March April...... Govern ment1 Divi dends and per Transfer pay sonal ments' interest income * 61.3 61.9 62.8 83.9 69.9 .... 1936: July. Servico indus tries J Propri etors'and rental Income' „ November. Total.,. Commod Total Distribu i t y pro disburse t i v e In ducing 9 ments industries * d u s t r i e s Loss e m . ployce contribu tions lor social in surance' Iff "Wage a n d salary receipts . . . See footnotes at end of table. iao 15.7 15.9 15.8 15.3 15.9 16.2 13.6 17.4 17,2 17.7 16.3 18.2 18.6 18.0 19.2 20.0 20.8 21.1 22.1 22.2 22.2 22.8 33.9 ma 25.1 23.2 25.6 64.0 65.8 62.3 67.9 68.2 63.0 67.0 64.4 62.7 66.5 61.7 61.6 61 O 01.4 62 4 62.0 62.9 64.2 62.1 64 6 64.7 65.2 65.6 66.5 67,2 68.0 69.2 60 5 69 I 70.2 71.0 72.5 73 4 74.5 76 6 71 6 91.9 95.3 85.1 NATIONAL INCOME SUPPLEMENT TO SURVEY OF CURRENT BUSINESS 54 July 1947 Table 48.—Personal Income, Seasonally Adjusted Monthly Totals at Annual Rates, 1929-46—Continued [Billions of dollars] * Wage and salary receipts 1942—Continued AprSL -**. »-- September—♦.» .. - — - *— 1044: November. 1945; * _ _., _*^ . Total February., Total Commod Distribu Total tive in disburse ity producing ments industries * dustries 1 Other tabor Income * Divi dends and per Transfer pay sonal interest ments' income' Service indus tries' Govern ment 1 Less em ployee contribu tions for social in surance * 8.4 8.5 8.6 8.7 8.8 13.5 14.1 15.7 16.5 17.1 17.9 19.5 30.4 21.6 16.1 1.0 1.0 1.1 1.2 1.3 1.3 1.3 1.4 1.5 1.2 .7 .7 .7 .7 .7 .7 .8 .8 .8 .7 26.9 37.1 27.5 28.1 29.2 29.7 30.4 31.2 31.3 28.1 9.8 9.8 9.7 9.7 9.6 9.6 9.6 0.6 9.7 9.7 3.3 3.2 3.1 3.2 3.1 3.1 3.0 2.9 2.0 3,2 101.7 23.8 24.5 35.2 25.3 20.0 26.4 27.1 27.5 28.0 28.6 20.6 30.0 26.9 1.6 1.6 1.7 1.8 1.3 1.9 1.9 1.9 1.9 2.0 2.0 2.1 1.8 .8 .8 .8 .8 .9 .9 .9 .9 .9 .9 1.0 1.0 .9 30.9 32.2 33.0 32.7 32.1 33.1 31.8 32.4 31.2 31.8 33.4 32.0 32.1 9.7 9.8 9.8 9.9 9.9 10.0 10.0 10.0 10.1 10.1 10.1 10.1 10.0 2.9 2,9 3.9 2.9 3.9 2.9 3.0 3.0 3,0 3.0 3,0 3.1 3,0 126.6 128.0 129.8 131.6 132.0 133.7 135.1 136.1 137.1 138.8 141.1 141.9 134.3 Nonagrlcultural Income * 114.8 117.0 120,4 123.4 126.8 128.9 132,6 135.8 138.0 122.2 1943: JnntW—^ "Wage and salary disbursements A Personal income ,*. July Toial 1946: February July Tom! ~ w 74.1 76.2 79.4 81.7 84.2 85.8 88.8 91.3 03.3 80.5 76.1 77.2 80.6 82.9 86.4 87.1 90.1 92.7 94.8 81.7 35.7 37,0 38.6 39.9 41.5 42.3 43.3 44.5 45.3 39.1 17. B 17.6 17.7 17.8 13.0 18.1 18.4 18.7 IS. 9 18.0 140.3 143.4 146.0 147.4 147.6 148.9 150.2 151.5 151.2 153.1 155.9 156.9 149.4 96.0 97.7 99.6 101.1 101.3 103.0 104.6 105.2 106,0 107.3 109.4 110.1 103.5 97.5 90.3 101.2 102,9 <103.6 104.9 I0G.4 107.1 107.0 109.3 111.4 112 2 106.3 4S.8 46.6 47.6 48.2 48.5 48.7 49.2 49.4 49.8 50.5 61.1 51.0 48.9 1E9 10.1 19.2 19.5 19.7 30.1 20.4 30.6 20.4 30.5 21.0 21.3 20.1 8.9 9.1 9.0 8.6 9.0 9.1 9.2 9.4 9.4 9.7 9.7 9.6 9.7 9.7 9.8 9.9 9.6 168.9 163.2 102.8 103.1 103.6 154.8 165.1 106.1 165.1 367.9 169.5 170.3 104.9 111.7 113.4 113.1 112.5 113.5 114.4 115.7 115.9 115.7 116.9 117.4 118.4 114.9 113.3 115.6 115.3 114.7 115.7 116.7 21.7 23.6 325 32.0 22.2 32.4 22.7 33.0 22.8 23.0 23.3 23.6 22.7 10.0 10.1 10.2 10.3 10.6 10.5 10.7 10.6 10.6 10.6 10.8 10.8 10.5 30.9 30.0 32.0 32.6 33.2 33.7 34.6 34.7 34.8 36.5 35.3 36.6 33.0 2.1 2.2 2.2 2.2 2.2 2.3 2.3 2.3 2.3 2.3 2.3 2.3 2.2 1.1 1.3 .1-2 1.3 1.3 1,3 1.3 1.4 1.4 1.4 1.4 1.4 1.3 32.0 34.0 34.3 34.0 34.6 34.9 33.7 34.4 33.5 3S.0 35.0 35.6 34.4 10.1 10.2 10.3 10.5 10,6 10.7 10.8 10.8 10.9 10.9 11.0 11.1 10.7 3.1 3.4 3.9 3.9 3.7 3.6 3.6 3.6 3,6 3.7 3.8 3.8 3.6 146.0 146.7 146.2 147.0 148.4 149.7 160.1 169,1 161.8 153.3 154.2 149.0 172.5 174.4 174.9 173,8 173,4 174.9 176.0 170.4 164.4 166.1 169.6 168.9 171.6 119.7 119.7 120.5 119.7 118.7 118.9 119.6 115.4 109.4 107.7 107.2 105.0 115.3 118.2 118.0 119,2 119.7 12a 7 117.1 122.1 122.1 132.9 122.1 121.1 131.3 123.0 117.7 111.7 110.0 109.6 107.1 117.5 51.2 51.0 59.6 49.9 49.8 50.1 60.0 40.9 49.8 50.1 50.3 60.8 60.3 51.4 51.3 51.2 50.4 40.2 48.6 47.3 43.9 38.9 38.3 39.2 39.4 46.8 23.8 24.1 24.2 24.1 24.2 24.5 25.1 24.8 24.9 25.1 26.1 26.6 24.8 10.9 11.1 11.1 11.0 11.1 11.3 11.7 11.6 11.8 11.8 12,3 12.2 11.5 36.0 35.6 36.4 36 6 30.6 36.9 37.9 37,4 361 34.8 3L9 28.9 35.6 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.3 2.3 2.3 2.3 2,1 2.3 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.6 1.5 1.6 1.5 1.5 1.5 36.2 38.1 37.6 37.3 37.5 37.2 36.9 36.5 35.4 36.3 38.1 38.1 37.1 11.1 11.2 11.2 11.2 11.4 11. S 11.7 11.8 11.9 11.9 12.1 12.2 11.0 4,0 3.9 4,1 4.1 4.3 5,8 6.3 6.3 6.3 8.7 10.7 121 6.3 165 7 165.7 157.1 166.0 165.9 157.8 168.1 153.7 148 4 160.5 152,4 151.5 154.4 169.2 167,0 170.1 171.0 173.3 173.2 179.0 180.9. 178.5 184.0 188.4 189-9 177.2 103.2 100.7 104.1 106.0 106.8 107.9 109.0 112.3 113.0 118.6 115.4 117.0 109.2 105.3 103.7 106.1 108,1 108.8 109.8 111.8 114.3 114.8 115.4 117.2 118.6 lll.Z 38.8 37.0 42.0 43.1 43.7 46.8 40.4 43.5 49.4 49.5 50.6 62.3 45.7 27.7 28.4 23.8 30.3 31.2 30.6 31.3 31.9 31.8 32.0 33.0 33.5 30.9 12.5 12.8 13.2 13.3 13.3 13.6 14.0 14.0 14.1 14.2 14 4 14.4 13.6 26.3 23.6 22.1 21.4 20.6 19.8 20.1 19.8 19.5 19.7 19.2 18.6 20.9 2,1 3.0 2,0 2,1 2.0 1.9 1.9 1.9 1.8 1.8 1.8 1.8 1.0 1.5 1.5 1.6 1.6 1.0 1.6 1.6 1.6 1.6 1,6 1.6 1.6 1,6 39.1 40.0 39.1 33.5 40.0 39.3 43.3 42.9 39.5 45.3 47.6 47,2 41.8 12.5 12.7 12.9 13.0 13.2 13.2 IS. 3 13.3 13.3 13.3 13. S 13.7 13.3 12 0 12.1 12,4 11.9 11.7 11,2 10.9 10.8 11.1 10.3 10.3 10.4 11.3 161,6 148.7 162.4 163.9 156.0 156,3 157.6 160.5 162.0 162.7 165.0 167.3 157.9 nao as 107.1 HO. 2 113.8 114.7 120 6 122 6 108.7 '! For definitions of personal income and its major components see pp. 8-10. This grouping of industries is a condensation of the classification shown in table VIII. Seo table 14 lor descriptive notes and for detailed annual data, differing from data shown in this table only to the extent that disbursements differ from accruals. "Commodity-producing industries" consists of Agriculture, forestry andfisheries.Mining, Con tract construc tion, and Manufacturing. "Distributive Industries" consists of Wholesale and retail trade, Transportation, and Communications and public utilities. "Service industries" com prises Finance, insurance, and real estate and Services. "Government" comprises Government and government enterprises and Best of the world. 1 1 Tor composition end annua! detail see table 35. 1 For composition and annual detail see table 34. 1 For major components on an annual basis see table 1. Dividends and persona) Interest income aro shown separately on an annual basis in table 3. '1 For composition and annual detail see table 36, Equals persona] income exclusive of not incomo of unincorporated farm enterprises, farm wages, agricultural not rents, agricultural not interest, end net dividends paid by agri cultural corporations. II. 3. GOVgRMMGNT PRINTING OPFICE, 144T