Output, Cost, and Profits of Nonfinanacial Corporate Business · TABLE B-12. Output, costs, and...
3
TABLE B-12.—Output, costs, and profits of nonjinancial corporate business, 1948-76 [Quarterly data at seasonally adjusted annual rates] Year or quarter 1948 1949 1950 1951_ . _ 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962. __. 1963 1964 1965 _ 1966 1967 1968 1969 „__ 1970 1971 1972 1973 .... 1974 1975 1976 v 1974: L... II... ML. IV... 1975: I .... II... ML. IV... 1976: l____ II... ML. Gross domestic product of nonfinancial corporate business (billions of dollars) Cur- rent dollars 137.3 133.5 151.9 174.5 182.3 195.0 191.9 216.7 231.6 242.3 236.3 265.7 277.3 284.5 311.0 330 9 357.6 392.1 430.7 452.9 498.4 541.8 560.6 602.5 671.0 752.0 810.0 870.4 982.6 787.9 807.5 821.5 823.3 822.3 851.1 892.0 916.1 949.0 972.8 993.8 1972 dollars 229.7 219.9 247.5 270.2 275.2 292.0 283.5 315.1 324.1 328.3 313.4 347.3 358.9 366.7 399.7 425.4 455.2 494.6 532.9 545.8 581.6 607.3 600.6 619 3 671.0 720.4 698.7 676.8 726.8 717.1 707.8 696.9 675.2 653.1 668.1 688.9 696.1 713.9 725.7 731.5 Current-dollar cost and profit per unit of output (dollars Total cost and profit 2 0.598 .607 .614 .646 .663 .668 .677 .688 .715 .738 .754 .765 .773 .776 778 .778 .786 .793 .808 .830 .857 .892 .933 973 1.000 1.044 1.159 1.286 1,352 1.099 1.141 1.179 1.219 1.259 1.274 1.295 1.316 1.329 1.341 1.359 Capital con- sump- tion allow- ances with capital con- 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- direct busi- 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- sation of 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 Net in- 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 with inventory valuation and capital consumption 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 Profits tax 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 Profits after tax < 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 Output per hour of all em- ployees (1972 dollars) 5.110 5.333 5.455 5.634 5.912 6.167 6.427 6.625 6.777 6.873 7.141 7.211 7.242 7.531 7.798 7.985 7.743 7.969 7.880 7.807 7.693 7.612 7.678 7.958 8.123 8.097 8.187 8.289 8.341 Compen- sation per hour of all em- ployees (dollars) 2.541 2.635 2.752 2.844 2.956 3.054 3.195 3.296 3.478 3.676 3.948 4.240 4.547 4.858 5.158 5.583 6.147 6.795 5.897 6.065 6.229 6.403 6.624 6.745 6.843 6.962 7.113 7.258 7.370 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
Transcript of Output, Cost, and Profits of Nonfinanacial Corporate Business · TABLE B-12. Output, costs, and...
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
