Gross National Product

Transcription

1 Gross National Product TABLE 1. GROSS NATIONAL PRODUCT (1-3,1-4) Billions of llars Billions of llars, unadjusted for seasonal variation Personal consumption expenditures Nondurable goods. Gross private mestic investment Xew construction Residential nonfarm Change in business inventories Nonfarm Farm Exports -- Imports Government purchases of goods and services Federal National defense - Less: Government sales ' TABLE 2. GROSS NATIONAL PRODUCT IN CONSTANT DOLLARS, AND IMPLICIT PRICE DEFLATORS (1-5, VII-3) GNP in billions of 1954 llars Implicit price deflators for seasonally adjusted GNP, 1954=1 Personal consumption expenditures Nondurable goods-. Gross private mestic investment New construction. Residential nonfarm Change in business inventories Nonfarm Farm Exports Imports Government purchases of goods and services Federal TABLE 3. GROSS NATIONAL PRODUCT BY MAJOR TYPE OF PRODUCT (1-6, 1-7) Billions of llars Billions of 1954 llars, seasonally adjusted at annual Goods output Inventorv change output Nondurable goods output. Construction. Addendum: Auto product % r

2 Total value of farm output Less: Value of intermediate products consumed total Equals' Farm GNP TABLE 4. FARM GROSS PRODUCT Billions of llars 39 * Billions of 1954 llars 1 21 Personal, Government, and Foreign Transactions on GNP Accounts Corporate gross product Indirect taxes Capital consumption allowances Income originating in corporate TABLE 5.-CORPORATE GROSS PRODUCT [Billions of llars] business C ompensation of employees Net interest Profits before tax, including inventory valuation adjustment * NOTE. Back data published in the July Survey. 1 Excludes profits originating in the rest of the world , TABLE 6. PERSONAL CONSUMPTION EXPENDITURES BY MAJOR TYPE (II-6, II-7) [Billions of llars] Unadjusted for seasonal variation Goods and services, total, total Automobiles and parts Furniture and household equipment Nondurable goods, total Food and beverages Clothing and shoes Gasoline and oil -, total - '... Housing Household operation Transportation TABLE 7. GOVERNMENT RECEIPTS AND EXPENDITURES (IH-3, IH-4) Federal Government receipts - Personal tax and nontax receipts Corporate profits tax accruals Indirect business tax and nontax accruals.. Contributions for social insurance- Federal Government expenditures.. Purchases of goods and services Transfer payments To persons Foreign (net) Grants-in-aid to governments Net interest paid Subsidies less current surplus of government enterprises Surplus or deficit ( ) on income and product account government receipts Personal tax and nontax receipts Corporate profits tax accruals Indirect business tax and nontax accruals Contributions for social insurance. Federal grants-in-aid government expenditures Purchases of goods and services Transfer payments to persons Net interest paid Less: Current surplus of government enterprises Surplus or deficit ( ) on income and product account ' TABLE 8. FOREIGN TRANSACTIONS IN THE NATIONAL INCOME ACCOUNT (-2, -3) Receipts from abroad Exports of goods and services Payments to abroad Imports of goods and services Net transfer payments by Government Net foreign investment

3 18 SURVEY OF CURRENT BUSINESS February 1965 National and Personal Income (Billions of llars)? P P National income TABLE 9.-NATIONAL INCOME BY TYPE OF INCOME (1-8, 1-9) Compensation of employees 323 Wages and salaries 297 Private 24 Military. 1 Government civilian 44 Supplements to wages and salaries Employer contributions for social insurance 1 labor income 12 Employer contributions to private pension and welfare funds- 9 Proprietors' income Business and professional Income of unincorporated enterprises Inventory valuation adjustment.. Farm Rental income of persons - Corporate profits and inventory valuation adjustment Profits before tax Profits tax liability Profits after tax Dividends Undistributed profits Inventory valuation adjustment Netinterest TABLE 1. NATIONAL INCOME BY INDUSTRY DISION (1-11) All industries, total Agriculture, forestry, and fisheries Manufacturing. industries Nondurable goods industries Wholesale and retail trade Finance, insurance, and real estate Transportation Communications and public utilities Government and government enterprises TABLE 11. NATIONAL INCOME BY CORPORATE AND NONCORPORATE FORM OF ORGANIZATION (1-14) National income Income originating in corporate business Compensation of employees Wages and salaries Supplements to wages and salaries. Corporate profits and inventory valuation adjustment * Profits before tax 1 Profits tax liability Profits after tax 1 Inventory valuation adjustment- Net interest Income originating outside corporate business Excludes profits originating in the rest of the world. p Preliminary TABLE 12. RELATION OF GROSS NATIONAL PRODUCT, NATIONAL INCOME, AND PERSONAL INCOME (1-17,1-18) Less: Capital consumption allowances Equals: Net national product- Less: Indirect business tax and nontax liability Business transfer payments Statistical discrepancy Plus: Subsidies less current surplus of government enterprises Equals: National income Less: Corporate profits and inventory valuation adjustment Contributions for social insurance Excess of wage accruals over disbursements Plus: Government transfer payments to persons Net interest paid by government - - Dividends ~ Business transfer payments Equals: Personal income Personal income TABLE 13. PERSONAL INCOME AND ITS USE (II-2) Wage and salary disbursements Commodity-producing industries.. Manufacturing only Distributive industries. Service industries Government.- - labor income - - Proprietors' income Business and professional Farm Rental income of persons - Dividends -... Personal interest income Transfer payments Old-age and survivors insurance benefits State unemployment insurance benefits Ve trans' benefits Less: Personal contributions for social insurance Less: Personal tax and nontax payments Federal Less: Personal consumption expenditures Equals : Personal saving Addendum: Disposable personal income in constant (1954) llars Equals: Disposable personal income, n a ,

4 CURRENT BUSINESS STATISTICS A HE STATISTICS here update series published in the edition of BUSINESS STATISTICS, biennial Statistical Supplement to the SUEVEY OF CURKENT BUSINESS. That volume (price $2.) contains data by months, or quarters, for the years 1959 through ( , for major quarterly series) and averages of monthly or quarterly data for all years back to 1939; it also provides a description of each series and references to sources of earlier figures. Series added or significantly revised after the BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for issued too late for inclusion in the aforementioned volume appear in the monthly SURVEY beginning with the August issue. Also, unless otherwise noted, revised monthly data (for periods not shown herein) corresponding to revised monthly averages are available upon request. Statistics originating in Government agencies are not copyrighted and may be reprinted freely, through the courtesy of the compilers, and are subject to their copyrights. Unless otherwise stated, statistics through and descriptive notes are shown in the edition of BUSINESS STATISTICS 1961 Annual total 1961 I II III Data from private sources are provided I II III Seasonally adjusted quarterly totals at annual GENERAL BUSINESS INDICATORS Quarterly Series 1 NATIONAL INCOME AND PRODUCT National income total f Compensation of employees, total bil. $ Wages and salaries total. Private Military Government civilian Supplements to wages and salaries. Proprietors' income, totalcf - Business and professionald* Farm : Rental income of persons Corporate profits and inventory valuation adjustment, total. bil. $. Corporate profits before tax, total Corporate profits tax liability Corporate profits after tax Dividends Undistributed profits. Inventory valuation adjustment Net Interest --., totalf Personal consumption expenditures, total, total Automobiles and parts.... Furniture and household equipment. - Nondurable goods, total Clothing and shoes - Food and alcoholic beverages Gasoline and oil, total Household operation Housing Transportation Gross private mestic investment, total. New construction Eesidential nonfarm -. Change in business inventories.. Nonfarm Exports... Imports -.' Govt. purchases of goods and services, total.- Federal (less Government sales) National defense 9, ".. By major type of product:f, total.. - Goods, total. "... Nondurable goods.,-... Construction j , total , Nondurable goods.. n 2.* 2.' 9 2.' 2 2.* 2 'Revised. *> Preliminary. frevised series. Estimates of national income and product and personal income have been revised back to 1961 (see p. 8 fl. of the July SURVEY); revisions prior to May for personal income appear on p. 15 of the July SUEVEY ' i ,! q -I OK A fi9 7 1 C 2. ; fi H fi ^ K «q fi c 7 1fi fi fifi o ^ c 9fi Q ec q CQ Q 59 9Qfl ^ Q4 f\ fi O qxi c 9fi a Q8 9 m q 183 9qn «co o o qq 7 97 Q K7 o Of) K 614 Qfl4 Q 1 1Q ft 185 R8 Q I qq o Ififi ft Q qc cc 9 fi fi P.Q 9 r> v v 274. pll p 54. J>3 v 52. 8»39 P12 *>1 P» *>27. 6 r ' r f r 34 3 r r 13 7 r 169 r ' r 12 3 '9 r 48 7 r25 '36. r 5 7 r 6 1 '7 r 37 1 r 29 4 r 13. r65 r a Includes data not shown separately 2 cflncludes inventory valuation adjustment. 9 Government sales are not deducted. 1 Annual totals for appear on p. 16 ff of this issue of the SURVEY O-65-3 Sr-1

5 S-2 SUEVEY OF CURRENT BUSINESS February 1965 Unless otherwise stated, statistics through and descriptive notes are shown in the edition of BUSINESS STATISTICS NATIONAL INCOME AND PRODUCT Con. Quarterly Data Seasonally Adjusted at Annual Rates GNP in constant (1954) llars, totalf bil. $ Personal consumption expenditures, total.... ^ Nondurable goods Gross private mestic Investment, total New construction Change In business inventories 1961 Annual total GENERAL BUSINESS INDICATORS Quarterly Series Continued.... ' Govt. purchases of goods and services, total Federal. DISPOSITION OF PERSONAL INCOMEf Quarterly Data Seasonally Adjusted at Annual Rates Personal Income total bil. $ Less' Personal tax and nontax payments Equals* Disposable personal income Personal saving. NEW PLANT AND EQUIPMENT EXPENDITURES Unadiusted quarterly or annual totals: All Industries bil. $ Manufacturing Industries Nondurable goods Industries Mining.. Railroads Transportation, other than rail Public utilities Communications Commercial and other. Seas. adj. qtrly. totals at annual : All industries Manufacturing industries Mining Railroads Public utilities ' Commercial and other BUSINESS POPULATION Firms in operation, end of quarter (seasonally adjusted) thous U.S. BALANCE OF INTERNATIONAL PAYMENTScft Quarterly Data are Seasonally Adjusted Imports: Merchandise....,. Military expenditures services. Govt. grants and capital outflows. U S private capital (net) Direct investments Long-term portfolio - Short-term... U S receipts recorded Exports: Merchandise and military sales. Repayments on U.S. Govt. loans Foreign capital other than liquid funds (net). Excess of recorded receipts or payments ( ). Unrecorded transactions (net) ,46 44,713 31,791 14, 497 2,954 5, ,54 4, 18 1,599 1, 25 1,556 3, , 913 8,525 1, , M,755 33,486 16, 134 3,44 5, ,293 3, , ,394 2,576 9,58 1, 28 1,3-1,92-1, * 4, ,99 16, 996 2,897 6, ,522 4,37 1,888 1, , ,989 1, , ,78 8,447 3, , ,74 1, ,76 5,32 2, , 79 8,151 4, , , ,925 5,237 2, Total, net receipts or payments ( ) -2, 37-2,23-2, Net receipts or payments ( ), incl. transactions in nonmarketable, medium-term convertible Govt. securities mil $ 1 <UO T Revised. * Preliminary, «See note 1 on p. S-l. i Estimates for Oct.-Dec. based on anticipated capital expenditures of business. 2 Estimates for Jan.-Mar based on anticipated capital expenditures of business. Anticipated expenditures for the year are as follows (in bil. $): All industries, 446; manufacturing, total, 11; durable goods industries, 95; nondurable goods industries, 96; mining, 18; railroads, 16; transportation, 21; public utilities, 64; commercial arid other (incl. communications),. s includes communications ,8 8,312 4, , , ,48 5,288 2, ,815 8,576 4, , , no 8,355 5,19 2, , ,825 8,724 4, , ,6 1, ,78 4,99 2, , ,835 9,713 4, , ,336 1, ,429 5,472 2, , ,295 ; , 85 8,482 4, , , ,596 5, 61 2, ,86 9,71 4, , ,117 1, ,88 5,917 2, , Unadjusted. Data representt firms iri operation as of Jan. 1; estimate for Jan. 1, is based on iricomplete data. fsee correspond] ng note Dn p. S-l (revisioiisforqtrs. of 1961 appear on p. 8 ff. of thejuly 1961 SURVEY. Personal sa-< 7ing is 63fcess of disposable income over personal consumptiin expenditures shown as a con: iponent c>f gross national product 1a p. S-l. cfmore complete details are given in the qmirterly r 3 views iii the Mar., June, Sept. and Dec. issue 3 of the SITRVEY. t Revised dat a for -61 app< jar on p. 1 of the June SURVEy ,875 9, 253 4, , , ,329 6,112 2, ,895 9, 797 4, , , 13 1, ,121 6,36 2, : ,91 9, 898 4, , ,75 1, , 512 6,362 2, «'522 « «53 «161 « «72»38 «29. 5 «5. ««9 "47 «45. 1 «52. 2 «6 '442 <"35 U p 495 p 619 p-1, I