GROSS NATIONAL PRODUCT, NATIONAL

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1 Digitized for FRASER [Millions of llars] GROSS NATONAL PRODUCT, NATONAL TABLE. GROSS NATONAL PROD- UCT (-,-) Gross national product Personal consumption expenditures Gross private mestic investment New construction Residential nonfarm Other _ 5, 5, 5, 5 5, 5, 55, 5,,, 5, 5, 5,, 5, 5, 5, 5, 5,,,,,, 5 5,,5,,,, 5,,5, 5, 5,, 5, 5,,, 5,,,, 5, 5, 55, 5, 5,, 5, 5,, 5,, 5,, 5,,, 5,,,,, 5,,, 5,,,, 5,,, 5,,, 55,, 5, 5, 5,, 5, 5, 55,, 5, 5,,, 5,, 5 5 5,,,,, 5,, 5 ' 5 5 5, 5 Producers' durable equipment Change in business inventories Nonfarrn.. - Exports mports, -,,,,,, 5,,,,, 55,5, -,, -,, 5,,,5, 5 5,, 5,,,5,,, 5 5,,,,,,,, 5, - -,,, -, -,,, 55, 5, 5,,,,,, 5, 5-5,, 5, 5,,5,,, 5, -,5 -,,,, 5 5,,5, -,,, 5,,5 5,. Government purchases of goods and services. _,, 5, 5,,,, 5, 5 5, 5,, 5, 5,, Federal 5, 5,,,, 5, 5 5,, 5 5, 5,, 5, 5, 5 5, National defense Other Less: Government sales, 5,,, 5, 5, 5,5, 5 5,, 5,,,,,,, 5,,55 5, 55 5,, 5,,,,, 55 5, 5, 5, 5,,,,,,,,,, 5,,. 5 TABLE. NATONAL NCOME (-, -) 5 fi q? 5 P *> ^ *> *>*>? ^ 5 fi S 5 National income Compensation of employees _ Wages and salaries Private Military Government civilian Supplements to wages and salaries Employer contributions for social insurance _ Other labor income Employer contributions to private pension and welfare funds Other... _ Proprietors' income Business and professional ncome of unincorporated enterprises nventory valuation adjustment Rental income of persons Corporate profits and inventory valuation adjustment Profits before tax Profits tax liability Profits after tax ^Dividends Undistributed profits nventory valuation adjustment Net interest,, 5, 5 5, 5,, 5,,55,,555 5,,, -, 5, 5,5,, 55,,,5, -5,, TABLE. RELATON OF GNP NATONAL NCOME AND PERSONAL NCOME (-, -) Gross national product Less Capital consumption allowances Equals* Net national product Less: ndirect business tax and nontax liability Business transfer payments Statistical discrepancy Plus: Subsidies minus 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,,, 5,,5 -,, 5, 5,,,5,5,, 5,,,, 5,55,,,,, 5, 5 -,,,,,, 5,, -, 5, 5, 5,, 55, 5 - -,, 5, 5,5,5,,5,,,,,,5,5,5,, 5, 5, 5,,,,,, 5 5, 5,,5,5, 5, 5,,, 5 -,, 5, -,,,,, 5,,,,,,,,,,, 5,5, 5 -,,, 5,,5, 5,,, 555 -,5 5,,5, 5 5,5, -, 5,,,,,,,,,,,,,5,5,,5,, 5, 5, -,,, 5,5,,,, -,,,5,,5 5, 5,,, 5,,5,, 5 5,, 55 5,, 5 5,,,,, 5,,,,,, 5 5,, 5,,, 5,,5,,,,,,,, -5, 55,, -, 5,,5,, 5, 5,,, 5,, 5,, 5,,5,,, 5, -,,5,,,,,5, -, 5, 5, 5, 5,,, - 5, 5,, -, 5,,5,, 5,, 55, 5,,5,, 5,,,,5,, 5, -,,,,,,,, -,5,,,, 5, 5 -,,,5, 5,,,, 5,, 5,,,,, 5 5,, 5,5,,,, 5 -,,,,,, 5,5, -,,,, 5,, 5,5,,, 5, 5 5,,5, 5, 5,,5,, 5,,,,,,,, 5,, -5,,,,,, 5,, -,,,,, 5,, -, 5,,, 5, 5,5,,,, 55,, 5,,, 55, 5,,,,, 5,, -,,,,,,, 5, -,5,,, 5,,, -,,, 5,,, 5, 5,, 5,,, 55,,,,,5,,,5, 5, 5-5, 5,, 55,,,, 5, -55,,5,5 5,,, -,,5,, 55, 5, 5,5,5,, 5, 55, 5,,, 5,, 5,5,,,55, 5, 5 5, 5 -,,5,,,,,,5-5,5,,, 55,, -,,55,, 5 5,,5,,,, 5,,, 5,,,,,,5,,,, -,, 5, 5,,,, 5,5, 5,,,5 5,, -, 5,5 5,,, 5,,5,,

2 NCOME, AND PERSONAL NCOME, - [Billions of llars, seasonally adjusted at annual rates] , ' ^ Digitized for FRASER

3 Digitized for FRASER GROSS NATONAL PRODUCT, NATONAL TABLE. PERSONAL NCOME AND TS DSPOSTON, (-l, -) 5 5! [Millions of llars] Personal income,5, 5,, 5,,, 5, 5,, 5,, 5,, 5 Wage and salary disbursements.. Commodity-producing industries Manufacturing only Distributive industries Service industries - Government. -- -, 5,, 5 5, 5,, 5,, 5, 5.,,, 5 5,,,, 5, 5,, 5,,,,,, 5 5, 5, 5,,, 5, 5,,,,,,, 5,,,, 5,, 5, 5,,,,, 5 55,, 5, 5,,,,, 5,, 5,,,, 5,,,,,,, 5,, 5,,, 5 5,,,,,,, Other labor income._ -.._ ---,,,,, 5, 5,,,,,,5,, Proprietors' income Business and professional 5, 5, 5,, 5, 5, 5, 5,, 5, 5,, 5, 5,,, 5,,, 5,,, 5,,.,,5,,, 5,,, 5, 5, 5, 5,5,,,, Rental income of nersons,5,,,,, 5, 5,,,,,,5, Dividends Personal interest income, 5,,,,,,,,, 5,5,, 5,., 55,5 5,,,, 5,, 5,,,,5, 5 Transfer payments _ Old-age and survivors insurance benefits-- State unemployment insurance benents.-- Veterans' benefits Other -.. _-, 5,5,, 55 5,,,, 5,,5 5, 5,,,, 55,, 5,, ',,,5, 5,,55,,, 5,,, 5,5,, 5,. 5,5,,,5,,,55,,,,,,55,5,, 5,5,5,,,,,55, Less: Personal contributions for social insurance.,,,,,,5,,5 5, 5,,,5,,5 Less: Personal tax and nontax payments Federal State and local,, 5,, 5,, 5,,,,,,,,, 5,5, 5, 5, 5,,, 55,5 5,, 5,, 5,,,, 5,, 5, 5,5 5,,, 5,,, Equals: Disposable personal income,,, 5, 55,, 5, 5, 5,,,,, 5, 5 Less: Personal consumption expenditures 5,,, 5 5,, 5,,, 5 5,, 5,,,, Equals: Personal savings,,,,,,, 5,, 5, 5,,, 5, Addendum: Disposable personal income in constant (5) llars.,, 5, 5,, 5, 5 55, 5, 5, 55,,, 5,, TABLE 5. GROSS NATONAL PROD- UCT N CONSTANT DOLLARS (-, -5) [Billions of 5 llars] Gross national product Personal consumption expenditures _ Gross private mestic investment New construction - Residential nonfarm Other _ Producers' durable equipment _ Change in business inventories Nonfarm Exports mports Government purchases of goods and services. _ Federal State and local TABLE. MPLCT PRCE DEFLA- TORS FOR GNP (V-, V-) [ndex numbers, 5=] 5 5 Gross national product _ Personal consumption expenditures. Gross private mestic investment New construction. _ Residential nonfarm Other Producers* durable equipment Change in business inventories Exports _ mports. _ Government purchases of goods and services.. Federal State and local

4 NCOME, AND PERSONAL NCOME, ii 5 5 [Billions of llars, seasonally adjusted at annual rates] [Billions of 5 llars] (! [ndex numbers, 5=] Digitized for FRASER

5 Digitized for FRASER Table. Gross National Product by Major Type of Product, in Current Dollars [Billions of llars, seasonally adjusted, at annual rates] Goods output GNP nventory nventory nventory nventory Construction..._-._..._ _ G ^ j For additional annual detail see table, p..

6 Table. Gross National Product by Major Type of Product, in Constant Dollars [Billions of 5 llars, seasonally adjusted, at annual rates] Goods output GNP nventory nventory nventory nventory Construction _ 5 5 TotaL.._ 5. TotaL TotaL * -Q.Q : j -! S For additiona. annual detail see table, p.. Digitized for FRASER 5

7 Digitized for FRASER r BUSNESS STATSTCS X HE STATSTCS here are a continuation of the data published in the 5 edition of BUSNESS STATSTCS, biennial Statistical Supplement to the SURVEY OF CURRENT BUSNESS. That volume (price $.5) contains monthly (or quarterly) data for the years 55 through 5 and monthly averages for all years back to insofar as available; it also provides a description of each series and references to sources of monthly figures prior to 55. Series added or significantly revised since publication of the 5 BUSNESS STATSTCS are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 5 issued too late for inclusion in the aforementioned volume appear in the monthly SURVEY beginning with the July 5 issue. Except as otherwise stated, the terms "unadjusted" and "adjusted" refer to adjustment for seasonal variation. Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights. Unless otherwise stated, statistics through 5 and descriptive notes are shown in the 5 edition of BUSNESS STATSTCS May June July August October September November December January February March April May June GENERAL BUSNESS NDCATORS NATONAL NCOME AND PRODUCT f Seasonally adjusted quarterly totals at annual rates: t National income total bil of l Compensation of employees total Private Military Government civilian Proprietors' income totaled Business and professional c^ Rentil income of persons (Corporate profits and inventory valuation adjustment total bil. of l Corporate profits before tix total Corporate profits tax liability Corporate profits after tax Gross national product, total Personal consumption expenditures, total Gross private mestic investment, total. - New construction Producers' durable equipment.._ Change in business inventories Exports - mports -_ - Government purchases of goods and services, total bil. of l- - Federal (less Government sales) National defense State and local -- Personal income, total Less: Personal tax and nontax payments. _.... Equals Disposable personal income. _. Personal saving GNP in constant (5) llars Gross national product, total--. bil. ofl.. Personal consumption expenditures, total. Gross private mestic investment, total,. New construction. Producers' durable equipment Change in business inventories. _.. Government purchases of goods and services, total bil. of l.. Federal State and local _... '. '. '. r. ' ' r ' ' f ' '5 ' ' ' - r ' 5. '. r 5. ' 5. '. ' ' '5 ' ' ' '5 '5 ' '. '5 ' 5. ' '. '. 5 ' '. ' ' ' ' ' ' ' ' ' '. '. '. '. '... ' ' ' 55. '. ' 5 '. ' ' ' ' ' ' ' ' ' 5 ' 5 ' 5. ' 5. ' 5. ' '. '. ' '. '5 5 ' ' ' ' ' ' '. 5 '. '. '.. ' ' ' 5. 5 '. r ' 5. ' 5. ' 5 ' ' ' ' 5. ' ' ' 5 5 ' ' 5. ' 5 ' 5. ' ' '. ' '. 5 ' '. ' '5 ' ' '. '. '. '. '. ' r ' '. '. ' '. ' 5. T. r r 5 '. 5 ' 5 ' '. r 5 ' ' ' 5. 5 ' 5 '. 5 ' 5 ' '. '. ' r Q ' ' Revised. frevised series. Estimates of national income and product and personal income have been revised back to 5; revisions prior to the d quarter (and prior to May for personal income) appear on p. ff. of this issue of the SURVEY. cf ncludes inventory valuation adjustment. Government sales are not deducted. Personal saving is excess of disposable income over personal consumption expenditures shown as a component of gross national product above. ' ' ' ' ' r i '. S-l

8 Digitized for FRASER S- SURVEY OF CURRENT BUSNESS Julv Unless otherwise stated, statistics through 5 and descriptive notes are shown in the 5 edition of BUSNESS STATSTCS May June July August October GENERAL BUSNESS NDCATORS Continued September November December January February March April May June PERSONAL NCOME, BY SOURCE Seasonally adjusted, at annual rates :\ personal income bil of l r i Wage and salary disbursements, total Commodity-producing industries, total Manufacturing only Distributive industries Service industries Government Other labor income Proprietors' income: Business and professional _ Rental income of persons Dividends Personal interest income Transfer payments Less personal contributions for social insur-- - Tot n l nonagricultural income ^. 5 ' ' r r r $ i r. -. r « r rl. - ' l r NEW PLANT AND EQUPMENT EXPENDTURES Unadjusted quarterly totals: All industries Manufacturing industries industries TVTining Railroads Transportation other than rail Public utilities ' Commercial and other bil of l Seasonally adjusted quarterly totals at annual rates: All industries bil of l industries Nondurable foods industries Mining Railroads Transportation other than rail Public utilities QO FARM NCOME AND MARKETNGS^ Cash receipts from farming, in eluding Government payments total mil. of l marketings and CCC loans, total _.. _- Crops Livestock and products, tota! Dairy products Meat animals Poultry and eggs ndexes of cash receipts from marketings and CCC loans, unadjusted: All commodities.... -=- Crops Livestock and products ndexes of volume of farm marketings, unadjusted: All commodities ] - = - - Crops Livestock and products _ - - -, -, - ', , 5 -, -5 -, , -, -, -, , -. -, -, , 5 -, 5 -,5, , -, -, -,55 - -, , -. -, , -, -, -, , -, -, -, , -, 5 - -, , -, 5 - -, , -, -, 5-5 5,, 5, NDUSTRAL PRODUCTON t Revised Federal Reserve ndex of Quantity Output Unadjusted, total index (including utilities)! 5=.- By industry: Manufacturing, total Durable manufactures Nondurable manufactures Mining Utilities By market grouping: Final products, total Consumer goods Automotive and home goods Apparel and staples,. Equipment, including defense no 5 5 Materials _ M materials 5 5 p 5 Nondurable materials - pu r Revised. p Preliminary. talicized total e^(eludes stepped-up rate of National S< jrvice Lift, nsurance dividend payments; total disburseme nts of $5 million inultipliec by (to put on annual rate basis) amounted to $ billion. Figures for tra asfer payraents and total nomigricultur al income reflecting similar e? c elusion ai^e$bi.lion and $ billion. Estimates for April-June based on anticipated capital expend itures of )usiness. Estinlates for July-September based on anticipated capital expenditiires of bus iness. Anticipatec expenditsee note marked "t" on page S-l. cfrevised beginning 5; revisions prior to May will be shown later. ncludes data not shown separately. tures for the vear. and pnmnarativp data, for QRQ-fif\ arvnpar ivn r> nf HP Tnnp Qfil STTT?V T? V trevised series. For figures back to January 55 for total and summary groups (seasonally adjusted), see p. of the January SURVEY; for other information and earlier figures back to ( for total industrial production, including utilities), see the December 5 Federal Peserve Bulletin and the separate Federal Reserve publication, "ndustrial Production: 5 Revision" (available from the Board of Governors of the Federal Reserve System). no p p p 5 p p P p p P P