Output, Cost, and Profits of Nonfinanacial Corporate Business · TABLE B-12. Output, costs, and...

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TABLE B-12.—Output, costs, and profits of nonjinancial corporate business, 1948-76

[Quarterly data at seasonally adjusted annual rates]

Year orquarter

19481949

19501951_ . _195219531954

19551956195719581959

196019611962. __.19631964

1965 _1966196719681969 „__

1970197119721973 . . . .1974

19751976 v

1974: L . . .I I . . .ML.IV...

1975: I . . . .I I . . .ML.IV...

1976: l____I I . . .ML.

Gross domesticproduct of

nonfinancialcorporatebusiness

(billions ofdollars)

Cur-rent

dollars

137.3133.5

151.9174.5182.3195.0191.9

216.7231.6242.3236.3265.7

277.3284.5311.0330 9357.6

392.1430.7452.9498.4541.8

560.6602.5671.0752.0810.0

870.4982.6

787.9807.5821.5823.3

822.3851.1892.0916.1

949.0972.8993.8

1972dollars

229.7219.9

247.5270.2275.2292.0283.5

315.1324.1328.3313.4347.3

358.9366.7399.7425.4455.2

494.6532.9545.8581.6607.3

600.6619 3671.0720.4698.7

676.8726.8

717.1707.8696.9675.2

653.1668.1688.9696.1

713.9725.7731.5

Current-dollar cost and profit per unit of output (dollars

Totalcostand

profit2

0.598.607

.614

.646

.663

.668

.677

.688

.715

.738

.754

.765

.773

.776778

.778

.786

.793

.808

.830

.857

.892

.933973

1.0001.0441.159

1.2861,352

1.0991.1411.1791.219

1.2591.2741.2951.316

1.3291.3411.359

Capitalcon-

sump-tion

allow-anceswith

capitalcon-

sump-tion

adjust-ment

0.047.053

.051

.054

.057

.058

.063

.061

.066

.072

.080

.075

.075

.076

.072

.070

.068

.066

.067

.072

.074

.079

.088

.094

.093

.095

.116

.143

.148

.105

.111

.118

.128

.139

.142

.143

.146

.146

.147

.149

In-directbusi-ness

taxes 3

0.053.057

.057

.056

.061

.062

.061

.061

.064

.068

.073

.073

.079

.082

.083

.084

.084

.083

.080

.084

.089

.094

.103

.110

.110

.112

.123

.138

.138

.116

.121

.126

.130

.135

.138

.139

.140

.136

.137

.138

Com-pen-

sationof

em-ployees

0.382.388

.383

.408

.430

.441

.446

.439

.467

.484

.497

.494

.505

.505

.500

.495

.497

.497

.513

.535

.553

.589

.628

.645

.661

.699

.794

.853

.883

.748

.777

.810

.841

.863

.847

.842

.860

.869

.876

.884

Netin-

terest

0.004.004

.004

.004

.004

.004

.006

.005

.005

.007

.009

.009

.010

.011

.011

.011

.012

.012

.014

.016

.017

.022

.028

.029

.028

.032

.041

.045

.049

.037

.040

.043

.046

.046

.045

.045

.046

.047

.049

.050

Corporate profits withinventory valuation

and capitalconsumption adjust-

ments

Total

0.112.105

.120

.124

.110

.102

.101

.121

.112

.106

.096

.114

.104

.102

.112

.118

.125

.134

.134

.123

.124

.109

.086

.095

.107

.105

.085

.107

.133

.093

.092

.082

.074

.076

.101

.126

.124

.131

.132

.137

Profitstax

liability

0.051.042

.068

.079

.065

.063

.055

.064

.062

.058

.052

.060

.053

.053

.052

.054

.053

.055

.055

.051

.058

.055

.045

.048

.050

.055

.061

.059

.072

.057

.061

.068

.058

.046

.053

.066

.068

.072

.074

.075

Profitsaftertax <

0.061.062

.051

.045

.046

.039

.046

.057

.050

.048

.044

.055

.051

.049

.061

.064

.072

.079

.078

.072

.066

.055

.041

.046

.057

.050

.024

.048

.062

.036

.031

.014

.016

.030

.049

.059

.055

.059

.058

.062

Outputper

hour ofall em-ployees(1972

dollars)

5.1105.333

5.4555.6345.9126.1676.427

6.6256.7776.8737.1417.211

7.2427.5317.7987.9857.743

7.969

7.8807.8077.6937.612

7.6787.9588.1238.097

8.1878.2898.341

Compen-sation

perhour ofall em-ployees(dollars)

2.5412.635

2.7522.8442.9563.0543.195

3.2963.4783.6763.9484.240

4.5474.8585.1585.5836.147

6.795

5.8976.0656.2296.403

6.6246.7456.8436.962

7.1137.2587.370

1 Output is measured by gross domestic product of nonfinancial corporate business in 1972 dollars.2 This is equal to the deflator for gross domestic product of nonfinancial corporate business with the decimal point,

shifted two places to the left.3 Indirect business tax and nontax liability plus business transfer payments less subsidies.• With inventory valuation and capital consumption adjustments.

Sources: Department of Commerce (Bureau of Economic Analysis) and Department of Labor (Bureau of Labor Statistics).

201

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1977

T A B L E B-12.—Output, costs, and profits of nonfinancial corporate business, 1948—77

[Quarterly data at seasonally adjusted annual rates]

Year orquarter

1948__ _1949

1950__ .1951195219531954 _

19551956195719581959

19601961196219631964 . _.

19651966 _ . .1967__ „19681969

19701971197219731974. . . .

19751976 _1977 p

1975:1 . . . .I I . . .III . .IV..

1976: 1 . . .IIIIIIV..

1977:1 . . .IIIII.

Gross domesticproduct of

nonfinancialcorporatebusiness

(billions ofdollars)

Cur-rent

dollars

137.3133.5

151.9174.5182.3195.0191.9

216.7231.6242 3236.3265.7

277.3284.5311.0330.9357.6

392.1430.7452.9498.4541.8

560.6602.5671.0752.0808.8

875.2991.0

1,104.9

824.8855.3899.5921.3

958.4983.6

1004.71017.2

1049.31094.91,124.8

1972dollars

229.7219.9

247.5270.2275.2292.0283.5

315.1324.1328 3313.4347.3

358.9366.7399.7425.4455.2

494.6532.9545.8581.6607.3

600.6619.3671.0720.4695.0

678.9731.0774.1

654.0669.4692.7699.5

719.4731.3736.6736.5

753.3771.7781.2

Current-dollar cost and profit per unit of output (dollars)

Totalcostand

profit2

0.598.607

.614

.646

.663

.668

.677

.688

.715

.738

.754

.765

.773

.776

.778

.778

.786

.793

.808

.830

.857

.892

.933

.9731.0001.0441.164

1.2891.3561.427

1.2611.2781.2991.317

1.3321.3451.3641.381

1.3931.4191.440

Capitalcon-

sump-tion

allow-anceswith

capitalcon-

sump-tion

adjust-ment

0.047.053

.051

.054

.057

.058

.063

.061

.066072

.080

.075

.075

.076

.072

.070

.068

.066

.067

.072

.074

.079

.088

.094

.093

.095

.116

.143

.146

.151

.140

.144

.143

.146

.145

.144

.147

.150

.149

.148

.151

In-directbusi-nesstax

etc. 3

0.053.057

.057

.056

.061

.062

.061

.061

.064

.068

.073

.073

.079

.082

.083

.084

.084

.083

.080

.084

.089

.094

.103

.110

.110

.112

.123

.136

.136

.140

.134

.136

.136

.137

.134

.135

.136

.139

.140

.139

.140

Com-pen-

sationof

em-ployees

0.382.388

.383

.408

.430

.441

.446

.439

.467

.484

.497

.494

.505

.505

.500

.495

.497

.497

.513

.535

.553

.589

.628

.645

.661

.699

.796

.849

.890

.947

.859

.844

.838

.857

.870

.880

.892

.916

.930

.943

.949

Netin-

terest

0.004.004

.004

.004

.004

.004

.006

.005

.005

.007

.009

.009

.010

.011

.011

.011

.012

.012

.014

.016

.017

.022

.028

.029

.028

.032

.043

.045

.044

.047

.047

.046

.044

.044

.044

.044

.044

.045

.046

.047

.048

I

Corporate profits withinventory valuation

and capitalconsumption adjust-

ments

Total

0.112.105

.120

.124

.110

.102

.101

.121

.112

.106

.096

.114

.104

.102

.112

.118

.125

.134

.134

.123

.124

.109

.086

.095

.107

.105

.086

.115

.139

.143

.081

.108

.137

.133

.139

.142

.145

.132

.128

.142

.152

Profitstax

lability

0.051.042

.068

.079

.065

.063

.055

.064

.062

.058

.052

.060

.053

.053

.052

.054

.053

.055

.055

.051

.058

.055

.045

.048

.050

.055

.061

.060

.073

.074

.048

.055

.068

.069

.072

.075

.074

.072

.070

.075

.073

Profitsaftertax*

0.061.062

.051

.045

.046

.039

.046

.057

.050048

.044

.055

.051

.049

.061

.064

.072

.079

.078

.072

.066

.055

.041

.046

.057

.050

.024

.055

.066

.069

.033

.053

.069

.064

.067

.066

.071

.060

.058

.068

.079

Outputper

hour ofall em-ployees(1972

dollars)

5.1105.333

5.4555.6345.9126.1676.427

6.6256.7776.8737.1057.139

7.1327.3747.5957.7817.506

7.7668.055

7.4907.7497.9357.892

7.9878.0678.1098.057

8.1718.2028.278

Compen-sationper

hour ofall em-ployees(dollars)

2.5412.635

2.7522.8442.9563.0543.195

3.2963.4783.6763.9294.198

4.4784.7575.0245.4415.972

6.5967.166

6.4326.5436.6476.761

6.9527.0967.2367.378

7.5997.7317.871

1 Output is measured by gross domestic product of nonfinancial corporate business in 1972 dollars.3 This is equal to the deflator for gross domestic product of nonfinancial corporate business with the decimal point

shifted two places to the left.3 Indirect business tax and nontax liability plus business transfer payments less subsidies.4 With inventory valuation and capital consumption adjustments.

Sources: Department of Commerce (Bureau of Economic Analysis) and Department of Labor (Bureau of Labor Statistics)

271

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1978

TABLE B-12.—Output, costs, and profits of nonfinancial corporate business, 1948-78

[Quarterly data at seasonally adjusted annual rates]

Year orquarter

1948.1949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969, __

197019711972.19731974

1975. . .197619771978 p . . . .

1976: I . . . .I I . . .I I I . .IV. . .

1 9 7 7 : 1 . . . .I I . . .I I L .IV. . .

1978: 1 .I I . . .I I I . .

Gross domesticproduct of

nonfinancialcorporatebusiness

(billions ofdollars)

Cur-rent

dollars

137.3133.5

151.9174.5182.3195.0191.9

216.7231.6242.3236.3265.7

277.3284.5311.0330.9357.6

392.1430.7452.9498.4541.8

560.6602.5671.0752.0808.8

874.1988.5

1,103. 21,240. 5

959.4982.0999.3

1,013.1

1, 048.51, 093. 31,124.61,146. 3

1,161.61, 233.01,260.6

1972dollars

229.7219.9

247.5270.2275.2292.0283.5

315.1324.1328.3313.4347.3

358.9366.7399.7425.4455.2

494.6532.9545.8581.6607.3

600.6619.3671.0720.4695.0

680.0730.0769.3810.3

722.1731.7733.5732.7

750.2766.9776.7783.6

783.6811.9814.9

Current-dollar cost and profit per unit of output (dollars

Totalcostand

profit2

0.598.607

.614

.646

.663

.668

.677

.688

.715

.738

.754

.765

.773

.776

.778

.778

.786

.793

.808

.830

.857

.892

.933

.9731.0001.0441.164

1.2851.3541.4341.531

1.3291.3421.3621.383

1.3981.4261.4481.463

1.4821.5191.547

Capitalcon-

sump-tion

allow-anceswith

capitalcon-

sump-tion

adjust-ment

0.047.053

.051

.054

.057

.058

.063

.061

.066

.072

.080

.075

.075

.076

.072

.070

.068

.066

.067

.072

.074

.079

.088

.094

.093

.095

.116

.142

.146

.150

.156

.143

.144

.147

.150

.149

.149

.151

.152

.155

.153

.158

In-directbusi-nesstax,

etc. 3

0.053.057

.057

.056

.061

.062

.061

.061

.064

.068

.073

.073

.079

.082

.083

.084

.084

.083

.080

.084

.089

.094

.103

.110

.110

.112

.123

.136

.136

.140

.145

.133

.135

.137

.140

.140

.139

.140

.142

.145

.145

.145

Com-pen-

sationof

em-ployees

0.382.388

.383

.408

.430

.441

.446

.439

.467

.484

.497

.494

.505

.505

.500

.495

.497

.497

.513

.535

.553

.589

.628

.645

.661

.699

.796

.848

.891

.9521.029

.867

.879

.896

.921

.932

.946

.955

.973

1.0081.0171.038

Netin-

terest

0.004.004

.004

.004

.004

.004

.006

.005

.005

.007

.009

.009

.010

.011

.011

.011

.012

.012

.014

.016

.017

.022

.028

.029

.028

.032

.043

.045

.042

.044

.046

.043

.042

.042

.042

.043

.043

.044

.045

.046

.045

.046

I1

Corporate profits withinventory valuation

and capitalconsumption adjust-

ments

Total

0.112.105

.120

.124

.110

.102

.101

.121

.112

.106

.096

.114

.104

.102

.112

.118

.125

.134

.134

.123

.124

.109

.086

.095

.107

.105

.086

.113

.139

.148

.154

.142

.142

.141

.130

.134

.148

.158

.151

.129

.157

.160

Profitstax

liability

0.051.042

.068

.079

.065

.063

.055

.064

.062

.058

.052

.060

.053

.053

.052

.054

.053

.055

.055

.051

.058

.055

.045

.048

.050

.055

.061

.060

.073

.077

.085

.073

.076

.072

.069

.075

.078

.076

.077

.071

.086

.086

Profitsaftertax*

0.061.062

.051

.045

.046

.039

.046

.057

.050

.048

.044

.055

.051

.049

.061

.064

.072

.079

.078

.072

.066

.055

.041

.046

.057

.050

.024

.053

.066

.071

.070

.068

.067

.069

.061

.059

.070

.082

.074

.057

.071

.074

Outputper

hour ofall em-ployees(1972

dollars)

5.1105.333

5.4555.6345.9126.1676.427

6.6256.7776.8737.1057.139

7.1327.3747.5957.7887.489

7.7217.9628.057

7.9177.9788.0067.9577.991

8.0258.1138.103

8.0538.1398.165

Compen-sationper

hour ofall em-ployees(dollars)

2.5412.635

2.7522.8442.9563.0543.195

3.2963.4783.6763.9294.198

4.4784.7575.0245.4465.958

6.5507.0937.667

6.8677.0107.1707.3297.451

7.5907.7467.881

8.1178.2818.471

1 Output is measured by gross domestic product of nonfinancial corporate business in 1972 dollars.2 This is equal to the deflator for gross domestic product of nonfinancial corporate business with the decimal point

shifted two places to the left.3 Indirect business tax and nontax liability plus business transfer payments less subsidies.* With inventory valuation and capital consumption adjustments.

Sources: Department of Commerce (Bureau of Economic Analysis) and Department of Labor (Bureau of Labor Statistics).

197

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1979