erp1959 appendixes 4

Appendix D

STATISTICAL TABLES

1334890160—59 -10

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

CONTENTSNational income or expenditure: Page

D-l. Gross national product or expenditure, 1929-58 139D-2. Gross national product or expenditure, in 1958 prices, 1929-58 140D-3. Gross private and government product, in current and 1958 prices,

1929-58 142D-4. Gross national product or expenditure, in 1954 prices, 1929-58 143D-5. Implicit price deflators for gross national product, 1929-58 144D-6. Gross national product: Receipts and expenditures by major economic

groups, 1929-58 146D—7. Personal consumption expenditures, 1929-58 148D-8. Gross private domestic investment, 1929-58 149D-9. National income by type of income, 1929-58 150D-10. Relation of gross national product and national income, 1929-58. . . . 151D—11. Relation of national income and personal income, 1929-58 152D-l2. Sources of personal income, 1929-58 153D-l 3. Disposition of personal income, 1929-58 154D-l 4. Total and per capita disposable personal income and personal con-

sumption expenditures, in current and 1958 prices, 1929-58 155D-l 5. Financial saving by individuals, 1939-58 156D-l 6. Sources and uses of gross saving, 1929-58 157

Employment and wages:D-l 7. Noninstitutional population and the labor force, 1929-58 158D-l8. Employment and unemployment, by age and sex, 1942-58 160D-l 9. Employed persons not at work, by reason for not working, and special

groups of unemployed persons, 1946-58 161D—20. Unemployed persons, by duration of unemployment, 1946-58 162D—21. Unemployment insurance programs, selected data, 1939 and 1946-58. 163D-22. Number of wage and salary workers in nonagricultural establishments,

1929-58 ' 164D-23. Average weekly hours of work in selected industries, 1929-58 166D—24. Average gross hourly earnings in selected industries, 1929-58 167D—25. Average gross weekly earnings in selected industries, 1929-58 168D-26. Average weekly hours and hourly earnings, gross and excluding over-

time, in manufacturing industries, 1939-58 169D—27. Average weekly earnings, gross and net spendable, in manufacturing

industries, in current and 1958 prices, 1939-58 170D-28. Labor turnover rates in manufacturing industries, 1930-58 171

Production and business activity:D-29. Industrial production indexes, 1929-58 172D—30. Business expenditures for new plant and equipment, 1939 and 1945-59 . 174D-31. New construction activity, 1929-58 175D-32. New public construction activity, 1929-58 176D—33. Housing starts and applications for financing, 1929-58 177D—34. Sales and inventories in manufacturing and trade, 1939-58 178D—35. Manufacturers' sales, inventories, and orders, 1939-58 179

135


Prices: PageD-36. Wholesale price indexes, 1929-58 180D-37. Wholesale price indexes, by stage of processing, 1947-58 182D-38. Consumer price indexes, 1929-58 184D-39. Consumer price indexes, by selected major groups, 1935-58 185

Money supply, credit, and finance:D-40. Deposits and currency, 1929-58 186D-41. Loans and investments of all commercial banks, 1929-58 187D-42. Federal Reserve Bank credit and member bank reserves, 1929-58. . . . 188D-43. Bond yields and interest rates, 1929-58 189D-44. Short- and intermediate-term consumer credit outstanding, 1929-58. . 191D-45. Instalment credit extended and repaid, 1946-58 192D-46. Mortgage debt outstanding, by type of property and of financing,

1939-58 193D-47. Net public and private debt, 1929-58 194

Government finance:D-48. U. S. Government debt, by kind of obligation, 1929-58 195D-49. Estimated ownership of Federal obligations, 1939-58 196D-50. Federal budget receipts and expenditures and the public debt,

1929-60 197D-51. Federal budget receipts by source and expenditures by function, fiscal

years 1946-60 198D-52. Government cash receipts from and payments to the public, 1946-60. . 199D-53. Government receipts and expenditures as shown in the national income

accounts, 1955-58 200D-54. Reconciliation of Federal Government receipts and expenditures in

the conventional budget and the consolidated cash statement withreceipts and expenditures in the national income accounts, fiscalyears 1956-58 201

D-55. State and local government revenues and expenditures, selected fiscalyears, 1927-57 202

Corporate profits and finance:D-56. Profits before and after taxes, all private corporations, 1929-58 203D-57. Relation of profits before and after taxes to stockholders' equity and

to sales, private manufacturing corporations, by asset size class,1956-58 204

D-58. Relation of profits after taxes to stockholders' equity and to sales,private manufacturing corporations, by industry group, 1956-58. . 205

D-59. Sources and uses of corporate funds, 1947-58 207D-60. Current assets and liabilities of U. S. corporations, 1954-58 208D-61. State and municipal and corporate securities offered, 1934-58 209D-62. Common stock prices and earnings and stock market credit, 1939-58. 210D-63. Business population and business failures, 1929-58 211

Agriculture:D-64. Income of the farm population, 1929-58 212D-65. Farm population, employment, and productivity, 1929-58 213D-66. Farm production indexes, 1929-58 214D-67. Indexes of prices received and prices paid by farmers, and parity

ratio, 1929-58 215D-68. Comparative balance sheet of agriculture, 1940-59 216D-69. Level-of-living indicators for farm-operator families, selected years,

1920-56 216D-70. Selected indicators of farming conditions, 1929-58 217

136


International transactions: PageD-71. United States balance of payments, 1952-58 218D-72. United States balance of payments with individual areas, 1952-58. . . . 219D—73. United States exports by selected commodities and markets, 1956-58 . 222D-74. World exports, 1956-58 223D-75. Estimated gold reserves and dollar holdings of foreign countries and

international institutions, 1952 and 1956-58 224D—76. Price changes in international trade, 1955-58 225

137


NATIONAL INCOME OR EXPENDITURE

TABLE D-l.—Gross national product or expenditure, 1929-58

[Billions of dollars]

Period

1929

19301931193219331934

19351936193719381939

1940 .19411942 . . _1943194419451946194719481949

19501951195219531954

1955 .195619571958 6

1956:First quarterSecond quarter __Third quarterFourth quarter _ _

1957:First quarterSecond quarter __Third quarterFourth quarter __

1958:First quarterSecond quarterThird quarterFourth quarter 6 _

Totalgrossna-

tionalprod-uct

104.4

91.176.358.556.065.072.582.790.885.291.1

100.6125.8159.1192.5211.4213.6210.7234.3259.4258.1284.6329.0347.0365.4363.1397.5419.2440.3436.7

410.8414.9420. 5430. 5

436. 3441.2445. 6438.9

425.8429.0439.0453.0

Per-sonalcon-

sump-tionex-

pendi-tures i

79.071.061.349.346.451.9

56.362.667.364.667.671.981.989.7

100.5109.8121.7147.1165.4178.3181.2

195.0209.8219.8232.6238.0

256. 9269.4284.4290.6

265.2267.2269.7275.4

279.8282.5288.3287.2

286.2288.3291.5296.5

Gross private do-mestic investment 2

"3

116.210.35.5.9

1.42.9

6.38.4

11.76.79.3

13.218.19.95.67.1

10.428.131.543.133.0

50.056.349.950.348.9

63.868.265.353.5

68.067.768.168.8

65.967.066.761.5

49.6*49.2853.7861.5

§

1

1

8.76.24.01.91.41.72.33.34.44.04.8

5.56.63.72.32.73.8

11.015.319.518.824.224.825.527.629.734.935.736.536.5

35.235.835.836.2

36.136.136.637.1

36.334.936.338.6

£X!2~II3 O<^ o>

5.84.52.81.61.62.33.14.25.13.64.25.56.94.34.05.47.7

10.716.718.917.218.921.321.322.320.8

23.127.027.922.6

25.926.627.328.2

28.728.128.026.7

22.98 22. 3»22.3823.0

Is•°'Sfi-3

!>j§-**CJ w

£ s

1.7-.41 3

-2.6-1.6

1 l

.91.02.2-.9

.4

2.24.51.8-.8

-1.0-1.1

6.4-.54.7

-3.16.8

10.23.1.4

-1.65.85.41.0

-5.6

6.95.44.94.4

1.12.92.2

-2.3

Q C

-s!o-5.0

(8)

Net exports ofgoods andservices 3

£

1I0.8

.7

.2

.2

.2

.4

-.1-.1

.11.1.9

1.51.1

-.2-2.2-2.1-1.4

4.99.03.53.8

.62.41.3

A

i.'o1.12.84.91.3

.82.83.24.4

5.66.04.83.3

1.71.71.7

en

Iw

7.05.43. 62.52.43.03.33.54.64.34.45.46.04.94.55.47.4

12.817.914.514.0

13.117.917.416.617.519.423.026.0(7)

20.922.523.624.8

26.426.626.024.9

21.922.422.8(7)

•§oash-H

6.3

4.83.42.32.32.53.33.64.53.23.5

3.84.85.16.87.58.87.98.9

11.010.2

12.515.516.117.016.518.320.221.0(7)

20.119.820.420.4

20.820.621.221.6

20.220.821.2(7)

Government purchases ofgoods and services

3e8.59.29.28.18.09.8

10.011.811.712.813.314.124.859.788.696.582.930.528.434.540.2

39.060.576.082.875.375.678.885.791.2

76.877.279.581.8

85.085.785.886.9

88.389.792.094.8

'cs

1

1.3

1.41.51.52.03.02.94.84.65.35.26.2

16.952.081.289.074.820.615.619.322.2

19.338.852.958.047.5

45.345.749.451.6

44.844.546.147.5

49.149.749.749.1

49.750.752.253.8

Federal

11'£ Oiccid

1.1.1.1.2.3.2.4.4.5.

1.32.2

13.849.680.488.675.918.811.411.613.614.333.946.449.341.2

39.140.344.344.3

39.139.141.042.1

43.744.944.943.9

43.744.144.545.0

CDft

6

34550098633.9

4.03.22.71.51.61.04.55.48.28.9

5.25.26.79.06.76.65.75.57.6

6.15.75.45.7

5.85.15.25.7

6.36.98.09.2

feS£39t3J <D|

(5)

(5)(5)(5)(5)(5)

(5)(5)(5)(5)(5)

(5)(5)0.2.6

1.22.22.71.1.5.2

.1

.3

.3

.3

.3

.4

.3

.4g

.3

.4

. i

i!si

^3c03

100

7.2

7.87.76.66.06.8

7.17.07.27.58.27.97.87.77.47.58.19.9

12.715.217.919.721.723.224.927.7

30.333.136.339.6

32.032.733.434.4

35.936.036.137.8

38.639.139.941.0

1 See Table D-7 for major components.2 See Table D-8 for more detail and explanation of components.3 For 1929-45, net exports of goods and services and net foreign investment have been equated, since foreign

net transfers by government were negligible during that period.4 This category corresponds closely to the major national security classification in the Budget of the United

States Government for the Fiscal Year ending June 30,1960.5 Less than $50 million.6 Preliminary; fourth quarter by Council of Economic Advisers.7 Not available.8 Data for the last 3 quarters of 1958 have not been revised to reflect lower expenditures reported in the last

two surveys of business expenditures for new plant and equipment. See Table D-30.

NOTE.—Series revised beginning 1946. For details, see U. S. Income and Output, A Supplement to theSurvey of Current Business, 1959.

Detail will not necessarily add to totals because of rounding.

Source: Department of Commerce (except as noted).


TABLE D-2.—Gross national product or expenditure•, in 7958 prices, 7929-58 1—Continued

[Billions of dollars, 1958 prices]

Period

1929

19301931193219331934

19351936193719381939

19401941194219431944

194519461947 --.19481949

19501951195219531954

1955195619571958 7

1956:First quarterSecond quarter..Third quarter...Fourth quarter ...

1957:First quarterSecond quarter _.Third quarter. _ _Fourth quarter..

1958:First quarterSecond quarter. _Third quarter...Fourth quarter 7.

Totalgross

nationalproduct

201.0

182.0168.3143.1139.5152.9

168.3191.7202. 5192.8208.8

227.0264.1299.4335.7360.0

354.1312. 2311.8323.7324.0

351.6379.6393. 3411.1403.2

435.4446.1451.1436.7

Personal consumptionexpenditures

Total

138.0

129.7125.7114.3111.6117.4

124.7137.5142.3139.9147.8

155. 7166.0162. 4166.6172.6

184.6207.0210.5214.5220.0

233.4235.3241.4253.1256.3

275.6284.0291.1290.6

Dura-ble

goods

15.7

12.510.88.27.99.1

11.313.914.611.814.0

16.218.611.59.99.1

10.320.524.626.027.8

33.930.830.134.934.2

41.840.040.336.8

Non-durablegoods

69.4

66.165.760.558.762.6

66.173.776.277.581.6

85.491.192.995.8

100.0

107.9114.5112.0111.8113.1

116.2118.3122.3125.9127.0

133.4138.5141.2142.0

Services

52.9

51.149.245.645.045.7

47.349.951.650.652.1

54.156.358.060.963.5

66.472.073.976.879.1

83.386.289.092.395.1

100.4105.4109.6111.8

Gross private domestic investment

Total

40.6

27.817.34.95.19.1

18.324.631.018.025.1

33.442.321.712.914.5

20.149.048.857.245.4

64.466.958.659.156.7

72.173.167.053.5

New construction

Total

24.1

17.912.67.05.35.9

7.810.813.011.614.0

15.617.59.05.15.6

7.720.022.926.025.6

31.329.929.831.734.1

38.837.737.236.5

Resi-dential(non-farm)

9.6

5.64.72.31.72.1

3.45.15.55.67.5

8.18.74.01.91.6

2.08.1

10.712.712.5

17.214.314.215.117.1

20.118.117.217.8

Other

14.5

12.37.94.73.63.8

4.35.87.56.06.4

7.58.85.03.24.0

5.711.912.213.313.2

14.115.715.616.617.0

18.719.520.018.7

Produc-ers'

durableequip-ment

13.2

10.57.04.24.46.0

8.010.912.48.6

10.0

13.015.38.88.2

10.9

15.119.125.827.023.5

25.326.125.926.724.7

26.729.428.622.6

Changein busi-

nessinven-tories

3.3

— . 6-2.3-6.2-4.6-2.8

2.62.95.6

-2.21.1

4.89.53.9-.4

-2.0

-2.89.9.1

4.2-3.7

7.810.92.9

-2.'f)

6.56.01.2

-5.6

Seasonally adjusted annual rates

443.4444. 1445. 1451.5

452. 4453.7453.3444.4

427.7429.0438. 6451.5

282.8283.0282.9287.1

289.1290.1293.9291.3

287.4288.2291.5295.5

41.039.638.840.5

40.939.840.739.8

36.635. 836.138.6

138. 3138.7138. 0139. 2

140.0140.8143. 0140.9

139. 9140.9143.1144.2

103. 5104.7106.1107.4

108.3109. 5110.2110.6

110.8111.5112.2112.8

74.772.772.572.4

68.968.967.762.3

49.8M9.2^53.7'61.4

38.137.637.537.6

37.636.737.037.4

36.434.836.438.5

18.718.117.918.0

17.416.616.917.6

17.116. 318.020.0

19.419.419.719.6

20.120.120.019.8

19.218.518.418.5

29.029.229.629.8

29.828.928.527.0

23.0'22.3*22.3s 23. 0

7 66.05.45.0

1.53.32.2

-2.1

-9.5-8.0-5.0(e)

See footnotes at end of table, p. 141.

140


TABLE D-2.—Gross national product or expenditure, in 1958 prices, 1929-58 l—Continued


Period

1929 .

1930 . -1931.193219331934 .

193519361937 - -1938 - - _ -1939

19401941194219431944

19451946194719481949

1950 - .195119521953 . .1954

195519561957 . . .1958 7

1956: First quarterSecond quarterThird quarterFourth quarter ... _ _

1957: First quarterSecond quarterThird quarterFourth quarter

1958: First quarter -Second quarterThird quarter _ . . . .Fourth quarter 7

Netexportsof goods

andservices 2

.9

.8

.2

.1-.4-.2

-1.5-1.7-1.1

1.4.8

1.7(6)-2.4-6.1-6.2-4.9

4.79.12.83.51.13.22.3.1

2.0

2.13.75.31.3

Government purchases of goods and services

Total

21.5

23.725.023.823.126.526.831.330.333.635.1

36.355.8

117.8162.3179.2154.4

51.543.449.255.252.674.191.198.888.1

85.685.387.791.2

Federal

Total 3

3.5

4.04.44.66.28.2

7.912.111.413.513.0

15.536.299.9

146.1163.3138.133.322.827.029.825.546.362.869.356.1

51.349.650.451.6

Nationaldefense 3 4

(5)

(5)(5)(5)(5)(5)

(5)(5)(5)(5)

3.1

5.629.494.8

143.4160.4

136.226.014.915.517.918.640.154.858.648.2

43.943.444.844.0

Other

(6)

(5)(5)(s)(')(5)(5)(5)(5)(5)

9.89.96.85.12.72.81.97.37.9

11.511.96.96.28.0

10.87.9

7.46.25.67.6

State andlocal

18.0

19.720.719.216.918.318.919.218.920.122.1

20.819.617.816.215.916.218.220.622.225.327.227.828.329.532.0

34.335.737.339.6


1.53.74.2,5.4

6.06.6M3.4

1.71.71.7.2

84.384.585.586.6

88.388.186.687.4

88.889.991.794.5

49.149.049.950.3

51.251.249.949.3

49.950.951.953.5

42.442.744.044.3

45.245.944.743.6

43.644.044.044.5

6.76.35.96.0

6.05.35.35.7

6.36.97.99.1

35.235.535.636.2

37.136.936.738.1

38.939.039.840.9

1 These estimates represent an approximate conversion of the Department of Commerce series in 1954prices. (See Tables D-4 and D 5.) This was done by major components, using the implicit price indexesconverted to a 1958 base. Although it would have been preferable to redeflate the series by minor compo-nents, this would not substantially change the results except possibly for the period of World War II, andfor the scries on change in business inventories.

For explanation of conversion of estimates in current prices to those in 1954 prices, see U. S. Income andOutput, A Supplement to the Surrey of Current Business, 1959. (The basic income and product series havebeen revised beginning 1946.)

2 For 1929-45, net exports of goods and services and net foreign investment have been equated, since foreignnet transfers by government were negligible during that period.

3 Net of Government sales, which are not shown separately in this table. See Table D-1 for Governmentsales in current prices.

* See Table D-1, footnote 4.5 Not available separately.6 Less than $50 million.7 Preliminary.* See footnote 8, Table D-1.

NOTE.—Detail will not necessarily add to totals because of rounding.Sources: Department of Commerce and Council of Economic Advisers.

141


TABLE D—3.—Gross private and government product, in current and 1958 prices, 7929-58


Period

1929..

19301931193219331934

19351936 _193719381939..

19401941194219431944

1945194619471948. . . _1949

19501951 - . . ..19521953_ . .. .1954

1955195619571958 5 _ - _ . __ .

Current prices

Totalgrossna-

tionalprod-uct

104.4

91.176.358.556.065.0

72.582.790.885.291.1

100.6125.8159.1192.5211.4

213.6210.7234.3259.4258.1

284.6329.0347.0365.4363.1

397.5419.2440.3436.7

Gross private product l

Total

100.1

86.671.654.051.359.4

66.675.583.977.683.5

92.8116.4144.0167.0179.2

178.4189.9217.6242.0238.7

263.8301.7316.0333.6330.8

363.5382.9401.7395.6

Farm 2

9.8

7.76.24.44.64.3

6.96.38.16.76.5

6.89.4

13.415.315.7

16.219.320.723.819.3

20.523.622.820.920.3

19.619.419.322.1

Non-farm

90.3

78.865.449.646.755.1

59.669.275.870.977.0

86.0107.0130.6151.7163.5

162.2170.7196.9218.2219.4

243.2278.2293.2312.7310.5

343.9363.5382.4373.5

Grossgov-ern-

mentprod-uct a

4.3

4.54.74.44.75.6

5.97.36.97.67.6

7.89.4

15.125.632.2

35.220.716.717.419.4

20.827.331.031.832.3

34.036.338.641.1

1958 prices *

Totalgrossna-

tionalprod-uct

201.0

182.0168.3143.1139.5152.9

168.3191.7202.5192.8208.8

227.0264.1299.4335.7360.0

354.1312.2311.8323.7324.0

351.6379.6393.3411.1403.2

435.4446.1451.1436.7

Gross private product 1

Total

188.3

168.7154.7129.9125.2136.4

150.8171.1183.1171.8187.6

205.2236.9259.9273.7288.3

283.8275.3283.8295.6294.5

321.0341.7352.4370.6363.3

395.6405.7410.1395.6

Farm 2

16.6

15.217.816.716.513.7

16.714.217.818.017.9

17.619.020.618.919.4

18.318.617.019.518.5

19.518.219.019.620.5

21.621.721.022.1

Non-farm

171.6

153.5137.0113.2108.7122.8

134.1156.8165.3153.9169.7

187.5218.0239.2254.8268.9

265.5256.8266.7276.1276.0

301. 5323.5333.4351.0342.8

374.0383.9389.1373.5

Grossgov-ern-

mentprod-uct'

12.7

13.413.613.314.216.4

17.620.619.421.021.2

21.827.239.662.071.7

70.336.828.128.129.5

30.537.940.940.539.8

39.840.440.941.1

1 Gross national product less compensation of general government employees, i. e., gross product accruingfrom domestic business, households, and institutions, and from the rest of the world.

2 See Survey of Current Business, October 1958, for description of series and estimates in current and con-stant prices and implicit deflators for 1910-57.

3 Includes compensation of general government employees and excludes compensation of employees ingovernment enterprises. Government enterprises are those agencies of government whose operating costsare at least to a substantial extent covered by the sale of goods and services, in contrast to the general activi-ties of government which are financed mainly by tax revenues and debt creation. Government enter-prises, in other words, conduct operations essentially commercial in character, even though they performthem under governmental auspices. The Post Office and public power systems are typical examples ofgovernment enterprises. On the other hand, State universities and public parks, where the fees and ad-missions cover only a nominal part of operating costs, are part of general government activities.

* See Table D-2, footnote 1.8 Preliminary.

NOTE.—Series revised beginning 1946. For details, see U. S. Income and Output, A Supplement to theSurvey of Current Pusiness, 1959.


Sources: Department of Commerce and Council of Economic Advisers.

142


TABLE D-4.—Gross national product or expenditure, in 7954 prices, 7929-58l


Period

1929

19301931193219331934 . .

19351936193719381939

194019411942 . .19431944

19451946194719481949

19501951 ... _ „19521953 ..1954

1955195619571958 5

1956:First quarterSecond quarter _ _Third quarterFourth quarter. .

1957:First quarterSecond quarter, _Third quarter....Fourth quarter. .

1958:First quarterSecond quarter _ _Third quarter....Fourth quarter 5.

Totalgrossna-

tionalprod-uct

181.8

164.5153.0130.1126.6138.5

152.9173.3183.5175.1189.3

205. 8238.1266.9296.7317.9

314.0282.5282.3293.1292.7

318. 1341.8353. 5369.0363.1

392.7402.2407.0394.3

399.6400.4401.4407.1

407.9409.3409.1401.2

386. 2387.3396.1407.8


15

128.1

120.3116.6106.0103.5108.9

115.8127.7132.1129.9137.3

144.6154.3150.8154.6160.2

171.4192.3195.6199.3204.3

216.8218.5224.2235.1238. 0

256.0263.7270.3269.7

262.7262.9262.7266.6

268.5269.3272.9270.4

266.7267.4270.5274.3

be

31Q

14.9

11.810.37.87.58.6

10.713.113.811.213.3

15.317.610.99.48.6

9.819.423.324.626.3

32.129.228.533.132.4

39.637.938.134.8

1

1

65.3

62.161.856.955.258.8

62.169.271.672.876.7

80.285.687.390.094.0

101.4107.6105.3105.1106.3

109.2111.2115.0118.3119.3

125.4130.2132.7133.5

o02

48.0

46.444.641.440.841.5

42.945.346.845.947.2

49.151.152.655.257.6

60.265.367.069.671.7

75.578.280.883.786.3

91.095.699.4

101.4

Gross private domesticinvestment

30

35.0

23.615.03.94.07.4

16.121.027.015.521.6

29.036.718.810.712.3

17.042.441.549.838.5

55.957.750.450.648.9

62.563.157.846.5

.2•8

1£

20.9

15.410.96.04.65.1

6.79.4

11.310.112.2

13.615.37.84.44.8

6.617.319.922.722.3

27.426.026.027.629.7

33.932.832.331.8

llsiII1*OH

11.1

8.85.93.53.75.0

6.79.2

10.57.38.5

10.912.97.46.99.2

12.716.121.722.819.8

21.322.021.822.520.8

22.524.824.119.1

IsI!I1O

3.0

-.7-1.8-5.6-4.2-2.8

2.62.45.2

-1.81.0

4.58.63.6-.6

-1.7

-2.49.0-.14.4

-3.6

7.29.72.6.5

-1.6

6.15.61.4

-4.4

Netex-

portsof

soodsandserv-ices 2

0.2

.2-.3-.3-.8-.6

-1.9-2.2-1.6

.8

.3

1.1-.6

-2.9-6.6-6.7

-5.63.88.02.02.6

.22.21.2

-.91.0

.92.43.9.1

Governmentpurchases ofgoods andservices

3

18.5

20.521.620.519.922.8

23.026.926.028.830.1

31.147.7

100.1137.9152.2

131.243.937.242.147.2

45.163.377.784.375.3

73.272.975.078.0

3I2.9

3.43.73.95.36.9

6.710.39.6

11.411.0

13.130.784.7

123.9138.4

117.128.219.422.925.3

21.639.353.358.847.5

43.542.042.743.7

1

12

02

15.6

17.117.916.614.615.8

16.316.616.417.419.1

18.016.915.414.013.8

14.015.817.819.221.9

23.524.124.525.527.7

29.730.932.334.3

Grosspri-vateprod-uct4

171.5

153.7142.0119.4115.0125.1

138.7156.6167.8158.1172.1

188.1216.0234.8246.4259.8

257. 0252.7259.6270.3268.7

293. 3311.1320.4336.2330.8

360.4369.4373.8361.0


38.837.536.838.4

38.737.738.537.6

34.633.934.236.5

130.0130.3129.7130. 8

131. 6132.3134.4132.4

131. 5132.4134.5135.5

93.995.0C6.397.4

98.299.3

100.0100.3

100.5101.1101.8102.3

64.562.862.862.5

59.359.558.454.0

43.2742.6746.6753.6

33.232.732.732.7

32.731.932.132.5

31.630.331.733.6

24.424.624.925.1

25.224.324.022.7

19.4718.8718.8719.3

6.95.55.24.6

1.53.32.3

-1.3

-7.8-6.5-3.9

.7

0.32.52.94.0

4.65.13.72.0

.4

.3

.5-.9

72.172.373.174.0

75.575.474.174.8

75.976.978.480.8

41.641.642.342.7

43.443.442.341.8

42.343.244.045.4

30.430.730.831.3

32.131.931.833.0

33.633.834.435.4

1

i For explanation of conversion of estimates in current prices to those in 1954 prices, see U. S. Income andOutput, A Supplement to the Survey of Current Busmess, 1959. (The basic income and product series havebeen revised beginning 1946.) See Table D-5 for implicit price deflators.

3 For 1929-45, net exports of goods and services and net foreign investment have been equated, sine*1, foreignnet transfers by government were negligible during that period.

3 Net of Government sales.4 Gross national product less compensation of general government employees.5 Preliminary estimates by Council of Economic Advisers.6 Not available.7 See footnote 8, Table D-l.

NOTE.—Detail will not necessarily add to totals because of rounding.


H3


TABLE D-5.—Implicit price deflators for gross national product, 1929-58

[Index numbers, 1954 = 100]

Period

1929 . .

1930 .193119321933 - -1934-.

1935.1936193719381939 - .

19401941194219431944

1945.1946194719481949

19501951195219531954

1955 . . -1956195719582

1956: First quarterSecond quarterThird quarter - . .Fourth quarter


1958: First quarterSecond quarterThird quarterFourth quarter 2

Grossnational

prod-uct i

57.4

55.449.944.944.246.9

47.447.749.548.748.1

48.952.959.664.966.5

68.074.683.088 588.2

89.596.298.199.0

100.0

101.2104.2108.2110.7

102.8103.6104.8105. 7

107.0107.8108.9109.4

110.3110.8110.8111.1


Total

61.6

59.052.646.544.847.6

48.649.150.949.849.2

49.753.159.565.068.6

71.076.584.689.588.7

89.996.098 099.0

100.0

100.4102.2105.2107.7

101.0101.7102.7103.3

104.2104.9105.7106.2

107.3107.8107.8108.1

Dura-ble

goods

62.0

60.553.547.046.148.8

47.947.950.350.850.2

50.754.864.270.378.7

82.882.088.492.493.5

94.6101.1102.299.4

100.0

100.1101.3104.7105.6

99.7100.6101.9103.0

103.8104.7105.0105.3

104.8105.2105.6106.8

Non-durable

goods

57.7

54.846.940.040.345.3

47.247 A49.146.745.8

46.450.558.865.869.5

72.278.888.794.090.9

91.499.0

100.199.7

100.0

99.5100.9104.0106.4

99.7100.4101.5102.0

103.0103.6104.5104.8

106.3106.8106.2106.3

Services

66.8

64.260.355.350.750.7

50.951.953.854.554.5

54.856.859.862.865.5

67.171.176.881.783.6

85.989.893.697.7

100.0

101.7104.2107.1110. 2

103.2103. 8104.6105.2

106.1106.6107.4108.4

109.5110.1110.5111.0

Gross private domesticinvestment !

New construction

Total

41.7

40.036.531.131.233.3

34.134.839.039.139.0

40.143.447.653.056.3

57.863.776.685.984.3

88.395.398.4

100.1100.0

103.1109.0112.9114.8

106.1109.4109.8110.6

110.6113.2113.9114.2

114.7115.1114.5115.0

Resi-dential

non-farm

41.8

40.837.130.129.833.1

32.634.337.839.239.5

40.944.647.751.456.2

60.065.378.488.685.9

90.997.5

100.3101.3100.0

103.0108.1110.1111.0

106.0108.2109.0109.2

109.1110.0110.9110.7

111.1110.4110.8111.5

Other

41.6

39.736.231.731.933.4

35.435.239.939.138.4

39.142.247.654.056.3

56.962.674.883.182.6

85.193.196.598.9

100.0

103.2109.8115.5118.8

106.3110.5110.5112.0

111.9115.9116.5117.5

118.2119.5118.4118.9

Pro-ducers'durableequip-ment

52.5

50.547.945.543.145.9

45.645.448.750.249.4

50.654.058.558.459.3

60.066.776.883.187.0

89.096.897.599.0

100.0

102.6109.0115.8118.6

106.0108.1109.6112.2

114.2115.3116.3117.4

118.0118.8118.9118.9


144


TABLE D-5.—Implicit price deflators for gross national product, 1929-58—Continued

[Index numbers, 1954=100]

Period

1929

1930193119321933.1934

19351936 . _193719381939

19401941.194219431944..

1945.19461947 . .19481949

19501951195219531954

19551956 -19571958 2

1956: First quarter - .. ... ._Second quarterThird quarter . _ _Fourth quarter . . -

1957' First quarterSecond quarterThird quarterFourth quarter ... -..

1958* First quarterSecond quarter _ .Third quarterFourth quarter 2

Exports and imports ofgoods and services 1

Exports

63.1

55.043.236.235.243.0

44.746.048.946.546.9

51.256.164.968.173.3

75.380.893.498.692.7

90.3103.3103.0101.0100.0

100.7103.4106.7105.0

0)0)0)(0

(>)C1)0)(0

0)0)C1)0)

Imports

57.3

48.939.732.329.333.8

36.036.941.138.038.6

40.943.048.951.353.3

57.465.579.786.382.0

87.8102.8102.898.2

100.0

99.9101. 9102.899.0

0)C1)0)0)

(00)C1)0)

0)C1)C1)0)

Government purchases of goodsand services

Total

45.8

44.942.739.440.342.9

43.444.045.144.544.2

45.251.959.664.363.4

63.269.476.482.085.1

86.595.597.898.3

100.0

103.3108. 1114.2116.9

106.4106.6108.7110.4

112.2113.4115.4115.8

116.2116.7117.3117. 3

Federal

44.5

41.841.738.238.343.2

43.746.947.346.146.8

47.055.161.465.664.3

63.973.080.884.488.0

89.698.799.298.6

100.0

104.1108. 8115.6117.9

107.7107.0109.1111.2

113.1114.4117.4117.4

117.5117.4118.5118.5

State andlocal

46.1

45.543.039.741.142.8

43.342.243.843.442.7

43.946.249.852.754.6

57.463.071.579.381.7

83.790.294.897.5

100.0

102.2107.2112.4115.6

104.7106.2108.2109.4

110.9111.9112.8113.8

114.8115.7115.9115.9

1 Separate deflators are not available for total gross private domestic investment, change in businessinventories, and net exports of goods and services, and for exports and imports quarterly.

For explanation of conversion of estimates in current prices to those in 1954 prices, see U. S. Income andOutput, A Supplement to the Survey of Current Business, 1959. (The basic income and product series havebeen revised beginning 1946.)

2 Preliminary estimates by Council of Economic Advisers.



TABLE D-6.—Gross national product: Receipts and expenditures by major economic groups,1929-58


Period

1929

19301931193219331934

19351936193719381939

19401941 .19421943 - -1944 .

19451946194719481949

19501951195219531954 .

19551956 -19571958 * .

1956* First quarter.Second quarterThird quarterFourth quarter

1957' First quarterSecond quarterThird quarterFourth quarter

1958* First quarter.Second quarterThird quarterFourth quarter 4 _ _ _

Persons

Dis-pos-ableper-

sonalincome

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0

117.5133.5146.8

150.4160.6170.1189.3189.7

207.7227.5238.7252.5256.9

274.4290.5305.1310.5

Per-sonalcon-

sump-tion ex-pendi-tures

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7147.1165.4178.3181.2

195. 0209.8219.8232.6238.0

256.9269.4284.4290.6

Per-sonal

savingor dis-saving(-)

4.2

3.42.5-.6-.6

.1

2.03.63.71.12.9

4.211.127.833.036.9

28.713.54.7

11.08.5

12.617.718.919.818.9

17.521.120.719.9

Business

Grossre-

tainedearn-ings i

11.5

8.85.22.72.64.9

6.36.57.87.88.3

10.411.514.116.317.2

15.613.118.926.627.6

27.731.533.234.335.5

42.143.245.645.0

Grossprivate

do-mesticinvest-ment

16.2

10.35.5.9

1.42.9

6.38.4

11.76.79.3

13.218.19.95.67.1

10.428.131.543.133.0

50.056.349.950.348.9

63.868.265.353.5

Excessof re-ceiptsor in-vest-ment(-)

-4.7

-1.5-.31.81.22.0

.1-1.9-4.0

1.2-1.0

-2.8-6.6

4.310.710.1

5.2-15.1-12.6-16.5-5.4

-22.3-24.8-16.6-16.0-13.4

-21.8-25.0-19.7-8.5

International

Foreignnet

trans-fers bygovern-ment 2

(2)

(2)(2)(2)(2)(2)

(2)(2)(2)(2)(2)

(2)(2)(2)(2)(2)

(2)0.3.1

1.63.2

2.82.11.51.61.4

1.51.41.51.2

Netexportsof goods

andservices 2

0.8

.7

.2-.2.2.4

-.1-.1

.11.1.9

1.51.1

-.2-2.2-2.1

-1.44.99.03.53.8

.62.41.3

-.41.0

1.12.84.91.3

Excess oftransfersor net

exports(-)

-0.87

-'.2-.2-.2-.4

.1

.1-.1

-1.1-.9

-1.5-1.1

.22.22.1

1.4-4.6-8.9-1.9-.5

2.2-.2

.22.0.4

.4-1.4-3.5-.1


283.1288.8292.1297.2

300.0305.7308.7306.8

305.0307.5314.0315.4

265.2267.2269.7275.4

279.8282.5288.3287.2

286.2288.3291.5296. 5 .

17.921.622.421.7

20.323.220.419.6

18.819.222.519.0

42.641.843.744.9

44.845.246.445.4

42.443.944.549.2

68.067.768.168.8

65.967.066.761.5

49.6M9.2553.7561.5

-25.4-25.9-24.4-23.9

-21.1-21.8-20.3-16.1

-7.2-5.3-9.2

-12.3

1.31.51.21.6

1.41.81.21.4

1.21.21.21.2

0.82.83.24.4

5.66.04.83.3

1.71.71.7.2

0.5-1.3-2.0-2.8

-4.2-4.2-3.6-1.9

-.5-.5-.51.0

See footnotes at end of table.

146


TABLE D-6.—Gross national product: Receipts and expenditures by major economic groups,1929-58—Continued


Period

1929-

1930-1931 -1932.1933_1934_

1935-1936-1937-1938-1939.

1940-1941-1942-1943-1944-

1945..1946-1947-1948-1949-

1950..1951-1952-1953-1954-

1955--.1956--.1957---1958 <__

1956: First quarterSecond quarter _Third quarter _ -Fourth quarter,.

1957: First quarterSecond quarter. _Third quarter...Fourth quarter. _

1958: First quarterSecond quarter _ _Third quarter. _-Fourth quarter4-

Tax andnontax

receipts oraccruals

11.3

10.89.58.99.3

10.5

11.412.915.415.015.4

17.725.032.649.251.2

53.251.157.159.256.4

69.385.590.694.990.0

101.4110.4116.2114.5

108.4109.3110.4113.7

116.4116.3117.3114.7

110.6111.1116.0120.2

(

Less:Transfers,interest,and sub-sidies 3

1.7

1.83.12.52.63.1

3.44.13.13.84.2

4.44.04.34.86.5

10.116.515.416.519.4

22.118.918.419.221.5

23.025.328.833. 3

24.325.325.426.3

27.329.328.730.2

31.633.534.133.8

jovernmen

Netreceipts

9.5

8.96.46.46.77.4

8.08.9

12.311.211.2

13.321.028.344.444.6

43.134.641.642.837.0

47.266.672.275.768.5

78.485.187.481.2

Seasonal!}

84.184.185.087.4

89.187.088.684.5

79.077.681.986.4

t

Purchasesof goods

andservices

8.5

9.29.28.18.09.8

10.011.811.712.813.3

14.124.859.788.696.5

82.930.528.434.540.2

39.060.576.082.875.3

75.678.885.791.2

7 adjusted a

76.877.279.581.8

85.085.785.886.9

88.389.792.194.8

Surplus ordeficit (-)on income

andproductaccount

1.0

-.3-2.8-1.7-1.4-2.4

-2.0-3.0

.6-1.6-2.1

-.7-3.8

-31.4-44.2-51.9

-39.74.1

13.38.2

-3.1

8.26.1

-3.9-7.1-6.7

2.96.31.7

-10.0

nnual rates

7.26.95.45.5

4. 11.32.8

-2.3

-9.4-12.2-10.2-8.4

Statisticaldiscrep-

ancy

0.3

-1.0.8.8.9.7

-.21.1

-.2.5

1.2

.8

.4-.8

-1.72.8

4.52.13.5-.8

.5

-.71.21.41.3.9

1.0-.9

.7-1.2

-0.2-1.3-1.5-.5

.91.5.7.7

-1.7-1.1-2.7

.9

GROSSNATIONALPRODUCT

104.4

91.176.358. 556.065.0

72.582.790.885.291.1

100.6125.8159.1192.5211.4

213.6210.7234.3259.4258.1

284.6329.0347.0365.4363.1

397.5419.2440.3436.7

410.8414.9420.5430.5

436. 3441.2445.6438.9

425.8429.0439.0453.0

1 Undistributed corporate profits, corporate inventory valuation adjustment, capital consumptionallowances, and excess of wage accruals over disbursements.

2 For 1929-45, foreign net transfers by government were negligible; therefore, for that period, net exportsof goods and services and net foreign investment have been equated.

3 Government transfer payments to persons, foreign net transfers by government, net interest paid bygovernment, and subsidies less current surplus of government enterprises.

* Preliminary; fourth quarter by Council of Economic Advisers,s See footnote 8, Table D-l.NOTE.—Series revised beginning 1946. For details, see 17. S. Income and Output, a Supplement to the

Survey of Current Business, 1959.Detail will not necessarily add to totals because of rounding.Source: Department of Commerce (except as noted).

147


TABLE D-7.—Personal consumption expenditures. 1929—58


Period

1929

19301931193219331934

19351936193719381939

1940 .1941194219431944

1945 ...1946194719481949

19501951195219531954

195519561957 -1958 4

1956' First quarterSecond quarter . .Third quarterFourth quarter


1958: First quarterSecond quarter -. ..Third quarterFourth quarter 4

Totalper-sonalcon-

sump-tionex-

pend-itures

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7147.1165.4178.3181.2

195.0209 8219.8232.6238.0

256.9269.4284.4290.6

Durable goods

To-tal

9.2

7.25.53.63.54.2

5. 16.36.95.76.7

7.89.77.06.66.8

8.115.920.622.724.6

30.429.529.132.932.4

39.638.439.936.8

%Saa03

1

s<<

3.2

2.21.6.9

1.11.4

1 Q2.32.41.62.2

2.73.4.7.8.8

1.03.96.37.49.8

13.011 611.014.013.4

18.315.617.114.0

li•sic3 3s?32

¥4.8

3.93.12.11.92.2

? 63.23.63.13.5

3.94.94.73.93.8

4.68.7

11.011.911.5

14.014 ?14.114.714.8

16.617.417.317.1

10

1.2

1.1.9.6.5.6

7.8

1.0.9

1.0

1.11.41.61.92.2

2.53.33.43.43.3

3.43 73.94.14.3

4.85.35.55.6

Nondurable goods

To-tal

37.7

34.028.922.822.326.7

29.332.835.234.035.1

37.243.251.359.365.4

73.284.893.498.79G.6

99.8110. 1115. 1118.0119.3

124.8131.4138.0142.0

*"ibe be

|l,2 o>%*<D_0

|1

£

19.5

18.014.711.410.912.2

13 615.216.415.615.7

16.719.423.727.830.6

34.140.745.848.246.4

47.453 455.856.657.7

59.262.266.469.1

x:rC

3bC

|

"o0

9.4

8.06.95.14.65.7

6 06.66.86.87.1

7.48.8

11.013.414.6

16.518.218.820.119.3

19.6?1 121.921.921.9

23.424.524.624.4

'oT3

o>.s

o

1.8

1.71.51.51.51.6

1 71.92.12.12.2

2.32.62.11.31.4

1.83.03.64.45.0

5.46 06.77.58.0

8.89.6

10.210.4

£a0

7.0

6.35.74.85.37.2

7 99.19.89.5

10.1

10.812.314.516.718.7

20.822.925.226.025.9

27.4?9 530.731.831.7

33.435.136.738.0

Services

To-tal

32.1

29.826.922.920.721.0

21.923.525.125.025.8

26.929.031.534.737.7

40.446.451.456.960.0

64.970.275.681.886.3

92.599.6

106.5111.8

be

0

11.4

11.010.39.07.97.6

7 67.98.48.89.0

9.310.010.811.311.9

12.413.815.617.619.3

21.223.225.427.529.1

30.732.835.437.1

|"c3

1O

T33J3

O

4.0

3.93.53.02.83.0

3 ?3.43.73.63.8

4.04.34.85.25.9

6.46.77.47.98.4

9.310.110.811.712.1

13.514.815.816.8

§

1

1&

2.6

2.2.9.6.5.6

7.9

2.01.92.0

2.12.42.73.43.7

4.05.15.56.06.1

6.36.97.48.07.9

8.38.69.09.2


265.2267.2269.7275 4

279.8282 5288.3287.2

286.2288.3291.5296.5

38.737.837.539 5

40.239 540.439.6

36.335.636.139.0

16.015.115.016 5

17.316 717.317.1

13.613.513.215.8

17.417.517.117 7

17.517 317.517.0

17.116.617.317.6

5.35.35.35 4

5.45 45.65.5

5.65.55.65.6

129.6130.9131.6133.4

135.5137.1140.5138.8

139.8141.4142.9144.0

61.361.962.363 5

64.666 167.867.2

68.369.369.269.8

24.124.324.6?4 8

24.8?4 325.124.4

23.924.024.824.9

9.29.59.69 P

10.210 ?10.310.2

10.310.310.510.7

35.035.235.135 ?

35.936 537.337.1

37.337.838.438.6

96.998.6

100.6102.5

104.1105.9107.4108.7

110.1111.3112.5113.5

31.832.333.133 8

34.435 135.736.3

36.636.937.237.5

14.414.714.915 1

15.315 615.816.2

16.416.717.017.2

8.58.68.58.7

8.99 09.29.0

9.19.19.29.3

I0

14.0

12.711.29.38.58.8

9 410.311.110.711.0

11.412.313.114.716.3

17.520.823.025.426.2

28.129.932.034.637.1

39.943.546.448.7

42.143.044.144.9

45.546.246.747.2

48.048.649.149.5

1 Quarterly data are estimates by Council of Economic Advisers.2 Includes standard clothing issued to military personnel.3 Includes imputed rental value of owner-occupied dwellings.* Preliminary; fourth quarter by Council of Economic Advisers.NOTE.—Series revised beginning 1946. For details, see 17. <S. Income and Output, A Supplement to the


148


TABLE D-8.—Gross private domestic investment, 1929-58


Period

1929

1930193119321933 ..1934

1935193619371938 .1939

1940 . .1941___ .19421943 - _1944

1945-. .194619471948 .__ . _ .1949

1950... ._ _ _19511952 .19531954

1955 . _19561957 .1958 s

1956:First quarter _ .Second quarter..Third quarter. ...Fourth quarter.

1957:First quarter . .Second quartet. .Third quarter. ._Fourth quarter.

1958:First quarter.Second quarter. .Third quarter ...Fourth quarter s.

Totalgross

privatedo-

mesticinvest-ment

16.2

10.35.5.9

1.42.9

6.38.4

11.76.79.3

13.218.19.95.67.1

10.428.131.543.133.0

50.056.349.950.348.9

63.868.265.353. 5

Nonfarm producers'plant and equipment

Total i

9.5

7.44.52.52.33.0

3.85.16.64.75.3

7.08.75.34.66.3

9.314.820.723.321.0

23.427.428.130.229.5

33.439.441.135.0

Equip-ment 2

5.2

4 02.61.41.52. 1

2.73.64.53.13.7

4.96.13.73.54.7

6.99.8

14.916.414.4

16.218.418.619.518.5

20.624.825.520.4

Con-struc-tions

4.2

3 41.91.0.8.9

1.11.42.11.61.6

2.02.61.61.11.5

2.35.05.86.96.6

7.29.19.5

10.711.0

12.814.615.614.6

Farm equipmentand construction

Total 4

0.9

7.4.2.2.3

.5

.7

.8

.7

.7

.81.1.9.8

1.0

1.01.83.24.14.4

4.44.84.64.54.0

4.13.84.03.9

Equip-ment

0.6

5.3.1.1.3

.4

.5

.6

.5

.5

.6

.8

.7

.6

.7

.7

.91.82.62.9

2.72.92.72.82.3

2.52.22.42.3

Con-struc-tion

0.3

2.1

(7)0

.1

.2

.2

.2

.2

.2

.3

.3

.3

.3

.3

.91.41.51.5

1.61.81.91.71.6

1.61.61.61.6

Resi-dential

con-struc-tion(non-farm)

3.6

2 11.6.6.5.6

1.01.61.92.02.7

3.03.51.7.9.8

1.14.87.5

10.19.6

14.112.512.813.815.4

18.717.717.017.8

Otherpri-vatecon-

struc-tion *

0.5

5

:\.1.1

.1

.1

.2

.2

.2

.2

.2

.1(7)

.1

.4

.5

.91.1

1.31.41.31.41.7

1.81.92.22.5

Net change inbusiness inventories

Total

1.7

— 4-1.3-2.6-1.6— 1 1

.91.02.2-.9

.4

2.24.51.8-.8

-1.0

-1.16.4-.54.7

-3.1

6.810.23.1.4

-1.6

5.85.41.0

-5.6

Non-farm 6

1.8

-1.6-2.6-1.4

2

.42.11.7

-1.0.3

1.94.0.7

-.6-.6

-.66.41.33.0

-2.2

6.09.12.11.1

-2.1

5.55.9.2

-5.8

Farm

-0.2

-.3.3

(7)-.3

— 1 3

.5-1.1

.5

.1

.1

.3

.51.2-.2-.4

-.5(7)

-1.81.7

-.9

.81.2.9

-.6.5

.3-.5

.82


68.067.768.168 8

65.967.066.761.5

49.69 49. 29 53. 79 61. 5

37.939.239.840.7

41.541.341.440.1

36.09 34. 7934.49 34. 8

23.924.525.025.9

26.325.525.624.4

20.820.120.120.4

14.014.714.814.9

15.215.815.815.7

15.214.614.314.4

3.63.63.93.9

4.04.13.93.8

3.63.93.84.2

2.02.12.32 4

2.52.52.42.2

2.02.32.22.6

1.61.61.61.6

1.61.61.61.6

1.61.61.61.6

17.817.717.617.7

17.216.516.917.6

17.116.217.920.1

1.81.91.92.0

2.12.22.22.3

2.42.42.52.5

6.95.44.94.4

1.12.92.2

-2.3

-9.5-8.0-5.0

(7)

7.46.25.34.6

.62.01.3

-3.1

-9.3-7.8-5.4-.7

-.5O

-!4-.2

.5

.9

.9

.8

-.2-.2

.4

.7

1 Items for nonfarm producers' plant and equipment are not comparable with those shown in Table D-30principally because the latter exclude equipment and construction outlays charged to current expense andalso investment by nonprofit organizations and professional persons.

2 Total producers' durable equipment less farm machinery and equipment, and farmers' purchases oftractors and business motor vehicles.

3 Industrial buildings, public utilities, gas- and oil-well drilling, warehouses, office and loft buildings,stores, restaurants, garages, miscellaneous nonresidential construction, and all other private construction.

4 Farm construction (residential and nonresidential) plus farm machinery and equipment, and fanners'purchases of tractors and business motor vehicles. (See footnote 2.)

5 Includes religious, educational, social and recreational, and hospital and institutional.6 After inventory valuation adjustment.7 Less than $50 million.8 Preliminary; fourth quarter by Council of Economic Advisers.9 See footnote 8, Table D-l.NOTE.—Series revised beginning 1946. For details, see U. S. Income and Output, A Supplement to the


489916 0—59 11


TABLE D-9.—National income by type of income, 1929—58


Period

1929 ... .

193019311932193319341935193619371938 .1939194019411942194319441945 .194619471948 -.19491950 --195119521953 ---1954 ._ ...1955 _ _ _ . _ . .19561957 _.1958 6

1956- First quarterSecond quarter. . ..Third quarterFourth quarter

1957: First quarter .Second quarterThird quarterFourth quarter

1958: First quarterSecond quarterThird quarterFourth quarter6 .

Totalna-

tionalin-

come1

87.875.759.742.540.249.0

57.164.973.667.672.881.6

104.7137.7170.3182. 6181.2180.9198.2223.5217.7241.9279.3292.2305. 6301.8330.2349.4364.0359.6

Com-pen-

sationof em-ploy-ees 2

51.1

46.839.731.129.534. 3

37.342.947.945.048.152.164.885.3

109.6121.3123.2117.7128.8141.0140.8154.2180.3195.0208.8207.6223.9241.8254. 6253.8

Business and pro-fessional incomeand inventory

valuationadjustment

Total

8.87.45.63.43.24.65.46.57.16 87.38.4

10.913.916.818.019.021.319.922.422.723.526.026.927.427.830.430.831.431.0

In-come

ofunin-corpo-ratedenter-prises

8.6

6.75.03.13.74.65.46.67.16.67.5

8.511.514.317.018.119.123.021.422.822.224.626.326.727.627.830.631.331.731.0

In-ven-toryvalu-ationad-

just-ment

0.1.8.6.3

-.5-.1

(5)-.1

f»).2

-.2

(•)-.6-.4-.2-.1-.1

-1.7-1.5-.4

.5-1.1-.3

.2-.2(5)

2-.5-.3(5)

In-come

offarmpro-prie-tors 3

6.04.13.21.92.42.4

5.04.05.64.34.34.66.5

10.011.411.5

11.815.315.517.812.914.016.315.313.312.711.811.611.613.2

Rent-al in-come

ofper-sons

5.4

4.83.82.72.01.7

1.71.82.12.62.72.93.54.55.15.45.66.26.57.38.39.09.4

10.210.510.910.710.911.812.2

Corporate profitsand inventory

valuationadjustment

Total

10.16.61.6

-2.0-2.0

1.12.95.06.24.35.79.1

14.519.723.823.018.417.323.630.828.235.741.037.737.333.743.142.941.9

736.2

Cor-porateprofitsbeforetaxes 4

9.63.3

0

-3.0.2

1.73.15.76.23.36.4

9.317.020.924.623.319.022.629.533.026.440.642.236.738.334.144.945.543.4

736.4

In-ven-toryvalu-ationad-

just-ment

0.5

3.32.41.0

-2.1-.6-.2-.7(5)1.0-.7-.2

-2.5-1.2-.8-.3-.6

-5.3-5.9-2.2

1.9-5.0-1.2

1.0-1.0-.3

-1.7-2.6-1.57 -.2

Netin-

terest

6.46.05.85.45.04.9

4.84.74.74.64.64.54.54.33.73.33.23.13.84.24.85.56.37.18.29.1

10.411.312.613.2


342.2346.2350.8357.9361.5364.1368.7361.5350.6352.4363.1372.1

235.3240.6243.0248.1251.6254.9257.3254 8

250.9250.7255.3258.4

30.730.930.830.931.131.431.731.3

30.630.731.131.8

31.131.631.031.531.431.731.831.8

30.730.730.931.9

-0.4-.7-.2-.6-.3-.3-.1-.5

«2-.2

11.311.311.912.011.511.611.811.512.613.413.313.3

10.710.710.911.211.411.712.012.2

12.112.112.212.3

43.341.642.844.043.742.043.138.8

31.332.538.0

743.0

46.244.844.346.746.143.544.239.9

31.732.037.9

744.0

-2.8-3.2-1.5-2.7-2.4-1.5-1.1-1.1-.3

.5

.27-1.0

10.911.111.411.712.112.512.812.9

13.013.113.213.3

1 National income is the total net income earned in production. It differs from gross national productmainly in that it excludes depreciation charges and other allowances for business and institutional con-sumption of durable capital goods, and indirect business taxes. See Table D-10.

2 Wages and salaries and supplements to wages and salaries (employer contributions for social insurance;employer contributions to private pension, health, and welfare funds; compensation for injuries; directors'fees; pay of the military reserve; and a few other minor items).3 Excludes income resulting from net reductions of farm inventories and gives credit in computingincome to net additions to farm inventories during the period. Data for 1929-45 differ from those shown inTable D-64 because of revisions by the Department of Agriculture not yet incorporated into the nationalincome accounts.

4 See Table D-56 for corporate tax liability (Federal and State income and excess profits taxes) andcorporate profits after taxes.5 Less than $50 million.

6 Preliminary; fourth quarter by Council of Economic Advisers.7 Provisional.NOTE.—Series revised beginning 1946. For details, see U. S. Income and Output, A Supplement to the


150


TABLE D-10.—Relation of gross national product and national income, 1929-58


Period

1929

19301931193219331934

19351936..193719381939

19401941194219431944

194519461947.19481949

19501951 . -195219531954

19551956195719583

1956:First quarterSecond quarter ..Third quarterFourth quarter ..

1957:First quarterSecond quarter ..Third quarterFourth quarter _.

1958:First quarterSecond quarter..Third quarter 'Fourth quarter 3_

Grossna-

tionalprod-

uct

104.4

91.176.358.556.065. 0

72.582.790.885.291.1

100.6125. 8159. 1192. 5211.4

213 6210.7234.3259.4258. 1

284.6329.0347.0365. 4363.1

397. 5419.2440. 3436. 7

Less: Capital con-sumption allowances

Total

8.6

8.58.27.67.27.1

7.27.57.77.87.8

8.19.0

10.210.912.0

12 510.713.015.517.3

19.122.024.026.528.8

32.034.737.739.6

Depre-ciation

charges

7.7

7.77.67.06.76.6

6.76.76.96.97.1

7.38.19.29.9

10.8

11.29.0

11.113.115.1

16.518.820.923. 125.2

27.930.833.735.9

I Other

0.9

.8

.6

.6

.5

.5

.6

.8

.8

.8

.7

.81.01.01.01.2

1.31.72.02.42.2

2.63.23.13.53.6

4.03.94.03.7

EqualsNetna-

tionalprod-uct

95.8

82.668 150.948 857.9

65.375.283.077.483.3

92.5116.8149.0181.6199.4

201.0200.0221.3244.0240.8

265.5307.0323.0338. 9334.3

365. 5384. 5402. 6397.1

Plus:Sub-sidiesless

currentsurplusof gov-

ern-mententer-prises

-0.1

-.1(2)(2)(2)

.3

.4(2)

.1

.2

.5

.4

.1

.2

.27

.8

-:'-.2-.2

.2

.2-.2-.4-.2

(2)1.01.3|1.5

Less:

Indirect businesstax

Total

7.0

7.26.96.87.17.8

8.28.79.29.29.4

10.011.311.812.714.1

15.517.318.620.421.6

23.725.628.130.230.2

32.935. 637.638.6

Fed-eral

1.2

1.0.9.9

1.62.2

2.22.32.42.22.3

2.63.64.04.96.2

7. 17.97.98.18.2

9.09.5

10.511.210.1

11.011.612.211.9

Stateandlocal

5.8

6.16.05.85.45.6

6.06.46.86.97.0

7.47.77.77.88.0

8.49.4

10.812.313.5

14.716. 117.619.020.1

21.824.025.426.7

Busi-ness

trans-fer

pay-ments

0. f

'.(

.6

.6

.6

.4

.5

.4

.5

.5

.5

.5

.5

.6

'.7.8

.81.01.21.41.3

1.51.51.61.6

Sta-j tisti-

caldis-

crep-ancy

0.3

hi•',2

L I— . £

L 2

.8

.4-.8

-1.72.8

4.52.13.5-.8

f,

~L21.41.3.9

1.0— .9

.7-1.2

Equals:Na-

tionalincome

87.8

75 759 742.540.249.0

57.164.973.667.672.8

81.6104.7137.7170.3182.6

181.2180. 9198.2223. 5217.7

241. 9279.3292. 2305. 6301.8

330. 2349.4364. 0359.6


410.8414.9420. 5,430.5

436.3441.2445.6438.9

425.8429.0439.0453.0

33.734.335.035.7

36.637.538.138.5

38.939.339.740.4

(4)(4)(4)(4)

(4)(4)(4)(4)

f4)(4)(4)(4)

(4)(4)(4)(4)

(4)(4)(4)(4)

(4)(4)(4)(>)

377.1380.6385.5394.8

399.7403.7407.5400.4

386. 9'389.7399.3412.6

.91.01.11.2

1.41.41.3J1.2

1.61l.s!1.51.5

34.535.335.837.0

37.137.837.937.7

38.038.338.639.5

11.111.411.612.4

12. 112.512.312.0

12.011.811.711.9

23.423.924. 324. 6J

25.025.325.625.7

25.926.526.927.6

1.51.51.51.5

1.61.61.61.6

1.61.61.61.6

-.2-1.3-1.5-.5

.91.5.7.7

-1.7-1.1-2.7

.9

342.2346.2350.8357.9

361.5364.1368.7361.5

350.6352.4363.1372.1

1 Accidental damage to fixed capital and capital outlays charged to current account.2 Less than $50 million.3 Preliminary; fourth quarter by Council of Economic Advisers.4 Not available.





TABLE D—11.—Relation of national income and personal income, 1929—58


Period

1929 _

19301931 .-193219331934 ._

19351936 .-193719381939 .

19401941194219431944

19451946194719481949

19501951195219531954

1955 . -195619571958 i --



1958: First quarterSecond quarterThird quarterFourth quarter1 ...

Nationalincome

87.8

75.759.742.540.249.0

57.164.973.667.672.8

81.6104.7137.7170.3182.6

181.2180.9198.2223.5217.7

241.9279.3292.2305.6301.8

330.2349.4364.0359.6

Less:

Corpo-rate

profitsand in-

ven-toryvalu-ation

adjust-ment

10.1

6.61.6

-2.0-2.0

1.1

2.95.06.24.35.7

9.114.519.723.823.0

18.417.323.630.828.2

35.741.037.737.333.7

43.142.941.9

2 36. 2

Contri-butions

forsocialinsur-ance

0.2

.3

.3

.3

.3

.3

.3

.61.82.02.1

2.32.83.54.55.2

6.16.05.75.25.7

6.98.28.68.79.7

11.012.314.214.4

Excessof

wageac-

crualsoverdis-

burse-ments

0.22

.1

-.1

Plus:

Gov-ern-menttrans-

ferpay-

mentsto

persons

0.9

1.02.11.41.51.6

1.82.91.92.42.5

2.72.62.62.53.1

5.610.911.110.511.6

14.311.612.012.915.0

16.017.119.924.4

Netinter-

estpaidby

gov-ern-ment

1.0

1.01.11.11.21.2

1.11.11.21.21.2

1.31.31.52.12.8

3.74.54.44.54.7

4.85.05.05.25.4

5.45.76.26.2

Divi-dends

5.8

5.54.12.62.12.6

2.94.54.73.23.8

4.04.54.34.54.7

4.75.86.57.27.5

9.29.09.09.29.8

11.212.012.412.3

Busi-ness

trans-fer

pay-ments

0.6

.5

.6

.7

.7

.6

.6

.6

.6

.4

.5

.4

.5

.5

.5

.5

.5

.6

.7

.7

.8

.81.01.21.41.3

1.51.51.61.6

Equals:

Per-sonalin-

come

85.8

76.965.750.147.253.6

60.268.573.968.672.9

78.796.3

123. 5151.4165.7

171.2179.3191.6210.4208.3

228.5256.7273.1288.3289.8

310.2330.5347.9353.4


342.2346.2350.8357.9

361.5364.1368.7361.5

350.6352.4363.1372.1

43.341.642.844.0

43.742.043.138.8

31.332.538.0

243.0

11.912.112.512.7

14.014.114.314.2

14.214.214.714.6

.8

.8-1.5

16.617.017.317.6

18.419.920.021.3

22.524.625.224.9

5.55.75.85.9

6.16.26.26.2

6.36.26.26.2

11.712.012.211.8

12.512.612.712.0

12.512.412.511.8

1.51.51.5.5

.6

.6

.61.6

1.61.61.61.6

322.3328.7332.3338.1

342.3348.4351.8349.7

347.3349.8357.5359.1

1 Preliminary; fourth quarter by Council of Economic Advisers.2 Provisional.




152


TABLE D-12.—Sources of personal income, 1920—58


Period

1929

1930193119321933 -.. .1934

19351936193719381939

1940 . .194119421943 . .1944 .

194519461947.19481949 .. .

19501951.. . .195219531954 .

19551956 _. .1957_19585

1956:First quarter. .Second quarter.Third quarter _ _Fourth quarter.

1957:First quarter _ _ _Second quarter.Third quarter..Fourth quarter.

1958:First quarter. _.Second quarter.Third quarter...Fourth quarter 5.

Totalpersonalincome

85.8

76.965.750.147.253.6

60.268 573.968.672.9

78.796.3

123. 5151. 4165.7

171.2179.3191.6210.4208.3

228. 5256.7273.1288. 3289.8

310. 2330. 5347.9353. 4

Lahorincome

(wage andsalary

disburse-ments

and otherlabor

income) l

51.0

46.739.630.929.434.1

37.242.546.743.646.6

50.562.883.0

106. 7118.5

119.4113.8125. 2137.9137.4

150. 2175. 5190.2204. 1202.5

218.0235.2247.1246.2

Proprietors'income 2

Farms

6.0

4.13.21.92.42.4

5.04.05.64.34.3

4.66.5

10.011.411.5

11.815.315.517.812.9

14.016.315.313.312.7

11.811.611.613.2

Busi-ness andprofes-sional

8.8

7.45.63.43.24.6

5.46.57.16.87.3

8.410.913.916.818.0

19.021.319.922.422.7

23.526.026.927.427.8

30.430.831.431.0

Rentalincome

ofpersons

5.4

4.83.82.72.01.7

1.71.82.12.62.7

2.93.54.55.15.4

5.66.26.57.38.3

9.09.4

10.210.510.9

10.710.911.812.2

Divi-dends

5.8

5.54.12.62.12.6

2.94.54.73.23.8

4.04.54.34.54.7

4.75.86.57.27.5

9.29.09.09.29.8

11.212.012.412.3

Per-sonal

interestincome

7.4

6.96.96.66.26.1

5.95.85.95.85.8

5.85.85.85.86.2

6.97.68.28.79.4

10.311.212.113.414.6

15.817.018.819.4

Trans-fer pay-ments

1.5

1.52.72.22.12.2

2.43.52.42.83.0

3.13.13.13.03.6

6.211.411.811.312.4

15.112.613.214.316.2

17.518.621.525.9

Less:Per-sonal

contri-butions

forsocialinsur-ance

0.1

.1

.2

.2

.2

.2

.2

.2

.6

.6

.6

. 7

.81.21.82.2

2.32.02.12.22.2

2.93.43.83.94.6

5.25.76.66. 7

Non-agricul-tural

persona]income 4

77.7

70.860.946.943.649.8

53.963.267.062.867.1

72.688.0

111.5137.6151. 6

156. 8161.2172.8189.2192.1

211.3237.0254.3271. 5273.8

295. 0315. 4332.7336. (>


322.3328.7332.3338.1

342.3348.4351.8349.7

347.3349.8357. 5359. 1

229. 0234.1236.2241.2

244.2247.3249.6247.2

242.6242.4249.0250. 6

11.311.311.912.0

11.511.611.811.5

12.613.413.313.3

30.730.930.830.9

31.131.431.731.3

30.630.731.131.8

10.710.710.911.2

11.411.712.012.2

12.112.112.212.3

11.712.012.211.8

12.512.612.712.0

12.512.412.511.8

16.5 ! 18.116.9 18.517.2 18.817.6 | 19.1

18.2 : 20.018.7 21.519.0 i 21.619. 1 | 22. 9

19.3 24.219.3 i 26.219. 4 26. 819.5 I 26.5

5.65.75.75.9

6.66.66.76.6

6.76.76.96.8

307. 6313.9316.9322. 5

327.2333. 2336.3334. 6

i 331.0i 332. 8

340. 7342. 3

i

1 The total of wage and salary disbursements and other labor income differs from compensation of em-ployees in Table D-9 in that it excludes employer contributions for social insurance and excludes the excessof wage accruals over wage disbursements.

2 Excludes income resulting from net reductions of inventories and gives credit in computing incometo net additions to inventories during the period.

3 Data for 1929-45 differ from those in Table D-64 because of revisions by the Department of Agriculturenot yet incorporated into the national income accounts.

4 X on agricultural income is personal income exclusive of net income of unincorporated farm enterprises,farm wages, agricultural net interest, and net dividends paid by agricultural corporations.

s Preliminary; fourth quarter by Council of Economic Advisers.

XOTE.—Series revised beginning 1946. For details, see U. S. Income and Output, A Supplement lo theSurvey of Current Business, 1959.



'53


TABLE D-13.—Disposition of personal income, 1929-58

Period

1929

19301931193219331934 .__

1935 - - -..193619371938. - .1939

1940 ...194119421943 --1944

1945194619471948 _ -1949

19501951 .-19521953 .. . .1954

195519561957 .-1958 a .

1956: First quarter .Second quarterThird quarterFourth quarter

1957: First quarterSecond quarter - _Third quarterFourth quarter . . . . _ . .

1958: First quarterSecond quarter. _ ._ - . ..Third quarterFourth quarter 3 .

Personalincome

Less:Personaltaxes i

Equals:Dispos-

ablepersonalincome

Less:Personal

con-sumptionexpendi-

tures

Equals:Personalsaving

Billions of dollars

85.8

76.965.750.147.253.6

60.268.573.968.672.9

78.796.3

123.5151.4165.7

171.2179.3191.6210.4208.3

228.5256. 7273.1288.3289.8

310.2330. 5347.9353. 4

2.6

2.51.91.51.51.6

1.92.32.92.92.4

2.63.36.0

17.818.9

20.918.721.521.118.7

20.829.234.435.832.9

35.740.142.743.0

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0

117.5133.5146.8

150.4160.6170.1189.3189.7

207.7227.5238.7252.5256.9

274.4290.5305.1310.5

79.0

71.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7147.1165. 4178. 3181.2

195. 0209.8219.8232.6238.0

256. 9269.4284.4290.6

4.2

3.42.5-.6-.6

.1

2.03.63.71.12.9

4.211.127.833.036.9

28.713.54.7

11.08.5

12.617.718.919.818.9

17.521.120.719.9

Saving aspercentof dis-

posablepersonalincome

(percent)2

5.0

4.63.9

-1.3-1.4

.2

3.55.45.31.64.1

5.511.923.624.725.2

19.18.42.85.84.5

6.17.87.97.97.3

6.47.26.86.4


322.3328. 7332. 3338.1

342.3348.4351.8349.7

347.3349.8357.5359. 1

39.239.940.240.9

42.342.743.143.0

42.342.343.543.7

283.1288.8292. 1297. 2

300.0305. 7308. 7306. 8

305. 0307.5314.0315.4

265.2267. 2269. 7275.4

279.8282. 5288.3287. 2

286. 2288.3291. 5296.5

17.921.622. 421.7

20.323.220.419.6

18.819.222.519.0

6.37.57. 77.3

6.87.66.66.4

6.26.27.26.0

1 Includes also such items as fines, penalties, and donations.2 Annual percentages are based on data in millions of dollars, and may therefore differ slightly from per-

centages computed on the basis of figures shown in this table.3 Preliminary; fourth quarter by Council of Economic Advisers.




154


TABLE D-14.— Total and per capita disposable personal income and personal consumptionexpenditures, in current and 1958 prices, 1929-58

Period

1929 . .

19301931193219331934

193519361937 .19381939

19401941194219431944

19451946194719481949

19501951196219531954 _

1955195619571958 3

1956: First quarterSecond quarterThird quarterFourth quarter. __

1957: First quarterSecond quarter. __Third quarterFourth quarter. __

1958: First quarterSecond quarter. ._Third quarterFourth quarter3..

Total disposablepersonal income

(billions ofdollars)

Currentprices

83.1

74.463.848.745.752.0

58.366.271.065.770.4

76.193.0

117.5133.5146.8

150.4160.6170.1189.3189.7

207.7227.5238. 7252.5256. 9

274.4290.5305.1310 5

1958prices 1

139.9

128.5121.1102.9102.1112.0

122.5137.7142.6134.3146.5

156.9182.3208.0222.6241.0

241.3237.5219.8227.3229.9

249.3252.8259.5272.4276.2

295.7308.3313.3310.5

Per capita dis-posable personalincome (dollars)

Currentprices

682

604514389364411

458517551505538

576697871977

1,060

1, 0751,1361,1801,2911,271

1,3691,4741,5201,5821, 582

1,6611,7271,7821,784

1958prices 1

1,148

1,043975822812886

9621,0751,1061, 0331,119

1,1881,3671,5421,6281,741

1,7261,6801,5251,5501,541

1,6431, 6381,6521,7071,701

1,7901, 8331,8301,784

Total personalconsumptionexpenditures

(billions ofdollars)

Currentprices

79.0

7-1.061.349.346.451.9

56.362.667.364.667.6

71.981.989.7

100.5109.8

121.7147.1165.4178.3181.2

195.0209.8219.8232. 6238.0

256.9269.4284.4290.6

1958prices 1

132.9

122.6116.4104.2103.6111.8

118.3130.2135.1132.2140.5

148.2160.5158.8167.6180.4

195.3217.6213.7214.1219.6

234. 1233.1238.9251. 0255.9

276.9286.0292.0290.6

Per capita per-sonal consump-tion expendi-tures (dollars)

Currentprices

648

576494395369410

442488522497516

544614665735794

870,040,148,216,214

,286,359,400,457,466

.555,602,661,670

1958prices *

1,091

995937835824884

9291,0151,0481,0161,073

1,1221,2041,1771,2251,304

1,3961, 5381,4831,4601,472

1,5441,5101,5221,5721,576

1,6761,7011, 7051,670

Popu-lation(thou-

sands)2

121, 875

123, 188124, 149124, 949125, 690126, 485

127, 362128, 181128, 961129, 969131, 028

132, 122133, 402134, 860136, 739138, 397

139, 928141, 389144, 126146, 631149, 188

151, 683154, 360157, 028159, 636162, 417

165, 270168, 176171, 196174, 064


283.1288.8292.1297.2

300.0305. 7308.7306.8

305.0307.5314.0315. 4

304.7308. 5308.1311.2

312.2315.2314.7311.8

306.8306.9313.1314. 5

1,6941,7211, 7331,754

1,7631,7891,7991,780

1,7621,7701,8001,800

1,8231,8391,8281,837

1,8351,8441,8341,809

1,7731,7661,7951,795

265.2267.2269.7275.4

279.8282.5288.3287.2

286.2288.3291. 5296.5

285.5285.5284. 5288.4

291.2291.2293.9291.9

287.9287.7290.6295.6

1,5871,5921,6001,626

1,6441,6541,6801,666

1,6541,6601,6711,692

1,7081,7011,6881,703

1,7111, 7051,7131,693

1,6641,6571.6661,687

167, 158167, 828168,600169, 424

170, 151170, 839171, 612172,393

173, 054173, 705174, 460175, 253

1 Dollar estimates in current prices divided by the consumer price index on a 1958 base (using 11-monthaverage). Personal consumption expenditures in this table therefore differ from the data in Table D-2.

2 Population of the continental United States including armed forces overseas. Annual data are forJuly 1; quarterly data are for middle of period.

3 Preliminary; fourth quarter by Council of Economic Advisers.

NOTE.—Annual figures for total income and expenditures in 1958 prices and for per capita income andexpenditures in current prices are computed from data in millions of dollars.

Series revised beginning 1946. For details, see U. S. Income and Output, A Supplement to the Survey ofCurrent Business, 1959.

Sources: Department of Commerce, Department of Labor, and Council of Economic Advisers.

'55


TABLE D-15.—Financial saving by individuals., 1939-58l


Period

1939

19401941194219431944

19451946194719481949

1950195119521953 _1954

19551956 .1957

1956:First quarterSecond quarter. _Third quarter. ..Fourth quarter.

1957:First quarterSecond quarter. .Third quarter. ..Fourth quarter .

1958:First quarterSecond quarter. .Third quarter. . -

Total

4.24

4.2310.5129.2838.6941.39

37. 3314.046.452.692.09

.9310.8712. 9510.739.19

6.9313.6216.62

5.042.253.213.12

5.522.874.863.36

4.551.205.22

Cur-rencyand

bankde-

posits2

3.04

2.934.84

10.9516.2017.57

19.0110.612.07

-1.78-1.38

3.746.007.144.935.41

3.814.875.65

-.14.44

1.622.94

.15

.722.202.58

401.145.14

Sav-ingsandloanasso-cia-tion

shares

0.04

.20

.36

.25

.55

.81

1.061.181.201.191.51

1.542.073.053.644.45

4.794.834.80

1.081.52.67

1.57

.991.62.49

1.71

1.321.82.67

Securities

Total

-0.83

-.432.64

10.3314.1415.71

9.93-1.43

2.423.122.39

.90

.433.443.39.22

6.285.166.02

2.89.88.83.56

2.431.022.16.41

.96-.77

-1.42

U.S.sav-ings

honds

0.66

.862.757.98

11.1411.80

6.85.96

2.011.601.46

.25-.47

.09

.20

.60

.26-.09

-1.91

.16-.08-.08-.10

-.58-.46-.49-.38

-.01-.19-.16

Othergov-ern-

ment3

-0.87

-.84.38

2.343.254.59

4.23-2.40-.28

.40

.20

-.07-.771.281.88

-.95

3.292.983. 93

2.35.39.30

-.06

1.87.12

1.87.08

-.28-.73

-1.80

Cor-porateand

other

-0.62

-.44-.50

.01-.26-.68

-1.16(9).69

1.12.73

.711.672.071.32.57

2.732.273.99

.37

.56

.62

.72

1.151.37.77.70

1.25.15.54

Pri-vate

insur-ancere-

serves4

1.72

1.852.142.492.853.21

3.463.423.643.753.71

3.924.064.885.045.38

5.495.645.13

1.281.341.561.46

1.221.151.521.25

1.231.151.34

Non-in-

suredpen-sion

funds

0.05

.05

.08

.12

.20

.60

.93

.30

.30

.40

.60

.901.361.511.841.93

2.082.412.68

.60

.60

.60

.60

.67

.67

.67

.67

.65

.65

.65

Gov-ern-

mentinsur-anceandpen-sionre-

serves5

1.30

1.301.862.553.924.96

5.143.553.493.572.34

1.094.244.403.242.63

3.093.493.09

.771.58.94.21

.731.44.76.15

-.25.72.19

Less: Increase indebt

Mort-gage

debts

0.50

.85

.82

.10-.38-.05

.223.604.624.724.12

7.296.596.527.309.01

11.9310.388.25

2.482.752.762.39

1.932.192.201.92

1.512.152.79

Con-sumerdebt7

0.81

1.01.69

-2.96-1.03

.14

.482.322.812.412.64

3.64.99

4.363.65.96

6.093.142.58

-.531.43.68

1.56

-.931.50.75

1.25

-1.77.31.09

Secur-ities

loans9

-0. 23

-.20-.11

.27

.581.38

1.48-2.34-.76

.43

.32

.22-.30

.60

.40

.86

.60-.75-.07

-.52-.08-.44

.28

-.34.05

-.02.24

.011. 05

-1.53

1 Individuals' saving, in addition to personal holdings, covers saving of unincorporated business, trustfunds, and nonprofit institutions in the forms specified.

2 Includes currency, demand deposits, time and savings deposits, shares and deposits in credit unions,and the postal savings system.

3 Includes armed forces leave bonds and other U. S. Government bonds (except savings bonds) and allsecurities issued by State and local governments.

4 Includes insured pension reserves.5 Includes Social Security funds, State and local retirement systems, etc.6 Mortgage debt to institutions on one- to four-family nonfarm dwellings.7 Consumer debt owed to corporations, largely attributable to purchases of automobiles and other dur

able consumer goods, although including some debt arising from purchases of consumption goods. Policyloans on Government and private life insurance have been deducted from those items of saving.

* Change in bank loans made for the purpose of purchasing or carrying securities.9 Less than $5 million.

NOTE.—In addition to the concept of saving shown above, there are other concepts of individuals'saving, with varying degrees of coverage, currently in use. The series with the most complete coverage,the personal saving estimates of the Department of Commerce, is derived as the difference between personalincome and expenditures. Conceptually, Commerce saving includes the following items not included inSecurities and Exchange Commission saving: Housing and farm and unincorporated business investmentin inventories and plant and equipment, net of depreciation and increase in debt. Government insuranceis excluded from the Commerce saving series. For a reconciliation of the two series, see Securities and Ex-change Commission Statistical Bulletin, October 1958.

Revisions for 1957-58 in the consumer credit statistics of the Board of Governors of the Federal ReserveSystem have not yet been incorporated into these estimates.


Source: Securities and Exchange Commission.

156


TABLE D-16.—Sources and uses of gross saving, 1929—58


Period

1929

19301931193219331934

19351936193719381939

19401941194219431944

194519461947 -1948 .1949

1950. _ - -1951195219531954

19551956.195719583

1956:First quarterSecond quarter __Third quarterFourth quarter..

1957:First quarterSecond quarter __Third quarterFourth quarter _ _

1958:First quarterSecond quarter _ _Third quarter ...Fourth quarter '

Gross private saving and government surplus ordeficit on income and product transactions

Total

16.7

11.94.9.3.6

2.6

6.47.2

12.17.39.0

13.918.810.55.12.3

4.530.636.845.933.0

48.555.348.347.047.6

62.470.568.054.9

Private saving

Total

15.7

12.27.72.01.95.0

8.410.111.58.9

11.2

14.622.641.949.354.2

44.326.523.637.636.1

40.349.252.254.154.4

59.664.266.364.9

Per-sonalsaving

4.2

3.42.5-.6-.6

.1

2.03.63.71.12.9

4.211.127.833.036.9

28.713.54.7

11.08.5

12.617.718.919.818.9

17.521.120.719.9

Grossbusi-ness

saving

11.5

8.85.22.72.64.9

6.36.57.87.88.3

10.411.514. 116.317.2

15.613.118.926.627.6

27.731.533.234.335.5

42.143.245.645.0

Government surplusor deficit (-)

Total

1.0

-.3-2.8-1.7-1.4-2.4

-2.0-3.0

.6-1.6-2.1

-.7-3.8

-31.4-44.2-51.9

-39.74.1

13.38.2

-3.1

8.26.1

-3.9-7.1-6.7

2.96.31.7

-10.0

Fed-eral

1.2

.3-2.1-1.5-1.3-2.9

-2.6-3.5-.2

-2.0-2.2

-1.4-5.1

-33.2-46.7-54.6

-42.32.2

12.28.0

-2.5

9.26.4

-3.9-7.4-5.8

3.86.82.9

-8.1

Stateandlocal

-0.1

-.5-.7_ 2(2)

.5

.6

.5

.7

.4

.1

. 71.31.82.52.7

2.61.91.1.3

-.6

-1.0-.3

. 1

.3-.9

-1.0-.6

-1.2-1.9

Gross investment

Total

17.0

11.05.71.11.53.3

6.28.3

11.87.8

10.2

14.719.29.73.45.0

9.032.740.445.033.5

47.856.649.748.348.5

63.469.668.853.6

Grossprivatedomes-tic in-vest-ment

16.2

10.35.5.9

1.42.9

6.38.4

11.76.79.3

13.218.19.95.67.1

10.428.131.543. 133.0

50.056.349.950.348.9

63.868.265.353.5

Net for-eign in-vest-

ment1

0.8

!2.2.2.4

-.1-.1

.11.1.9

1.51.1

-.2-2.2-2.1

-1.44.68.91.9.5

-2.2.2

-.2-2.0-.4

-.41.43.5.1

Statis-ticaldis-

crep-ancy

0.3

-1.0.8.8.9.7

-.21.1

-.2.5

1.2

.8

.4-.8

— 1. 72.8

4.52.13.5-.8

.5

1.21.41.3.9

1.0-.9

.7-1.2


67.770.371.672.0

69.269.769.662.6

51.850.957.159.8

60.563.466.266.5

65.168.466.864.9

61.263.167.068.2

17.921.622.421.7

20.323.220.419.6

18.819.222.519.0

42.641.843.744.9

44.845.246.445.4

42.443.944.549.2

7.26.95.45.5

4.11.32.8

-2.3

-9.4-12.2-10.2-8.4

7.77.35.86.5

5.52.63.4-.2

-6.6-9.9-8.6-7.2

-.5-.4-.4

-1.0

-1.4-1.3-.6

-2.1

-2.7-2.2-1.6-1.2

67.569.070.071.6

70.171.270.363.4

50.149.754.260. 5

68.067.768.168.8

65.967.066.761.5

49.649.253.761.5

— .51.32.02.8

4.24.23.61.9

.5

.5

.5-1.0

-.2-1.3-1.5-.5

.91.5

. 7

-i!i-2.7

.9

1 Net exports of goods and services less foreign net transfers by Government. For 1929-45, net foreigninvestment and net exports of goods and services have been equated, since foreign net transfers by govern-ment were negligible during that period.

2 Less than $50 million.3 Preliminary; fourth quarter by Council of Economic Advisers.




157


EMPLOYMENT AND WAGES

TABLE D-17.—Noninstitutional population and the labor force, 1929-58

Period

Old definitions: 21929

19301931 ... -. _193219331934

19351936193719381939

19401941194219431944 .

1945 -1946194719481949

19501951195219531954 _

195519561957

New definitions: 2

1947 . . _19481949. . _ .

19501951195219531954 . .

1955195619571958

Nonin-stitu-tionalpopu-

lation i

Totallaborforce

(includ-ing

armedforces) i

Armedforces i

Civilian labor force

Total

Employment 2

TotalAgri-cul-tural

Non-agri-cul-tural

Unem-ploy-

ment2

Thousands of persons 14 years of age and over

C3)

(3)(»)(3)(3)(3)

(3)(3)(3)(3)(3)

100, 380101, 520102, 610103, 660104, 630

105, 520106, 520107, 608108, 632109, 773

110, 929112, 075113, 270115, 094116,219

117, 388118, 734120, 445

107, 608108, 632109, 773

110, 929112,075113, 270115,094116, 219

117,388118, 734120, 445121,950

49, 440

50, 08050, 68051, 25051, 84052, 490

53, 14053, 74054, 32054, 95055, 600

56, 18057, 53060, 38064, 56066, 040

65, 29060, 97061, 75862, 89863, 721

64, 74965, 98366, 56067, 36267, 818

68, 89670, 38770, 761

61, 75862, 89863, 721

64, 74965, 98366, 56067, 36267, 818

68, 89670, 38770, 74471, 284

260

260260250250260

270300320340370

5401,6203,9709,020

11,410

11, 4303, 4501,5901,4561,616

1,6503,0973,5943,5473,350

3,0482,8572,797

1,5901,4561,616

1,6503, 0973,5943,5473, 350

3,0482,8572,7972,637

49, 180

49, 82050, 42051,00051, 59052, 230

52, 87053, 44054,00054, 61055, 230

55, 64055, 91056, 41055, 54054, 630

53, 86057, 52060, 16861, 44262, 105

63, 09962, 88462, 96663, 81564, 468

65, 84767, 53067, 964

60, 16861, 44262, 105

63, 0996J2, 88462, 96663, 81564, 468

65, 84867, 53067, 94668, 647

47, 630

45, 48042, 40038, 94038, 76040,890

42, 26044, 41046,30044, 22045, 750

47, 52050, 35053, 75054, 47053, 960

52, 82055, 25058, 02759, 37858, 710

59, 95761, 00561, 29362, 21361, 238

63, 19364, 97965, 272

57, 81259, 11758, 423

59, 74860, 78461, 03561, 94560,890

62, 94464, 70865,01163, 966

10, 450

10, 34010,29010, 17010,0909,900

10, 11010,0009,8209,6909,610

9,5409,1009,2509,0808,950

8,5808,3208,2667,9738,026

7,5077,0546,8056,5626,504

6,7306,5856,229

8,2567,9608,017

7,4977,0486,7926,5556,495

6,7186,5726.2225,844

37, 180

35, 14032, 11028, 77028, 67030, 990

32, 15034, 41036, 48034, 53036, 140

37, 98041, 25044, 50045, 39045, 010

44, 24046, 93049, 76151, 40550,684

52, 45053, 95154,48855, 65154, 734

56, 46458, 39459, 043

49, 55751, 15650, 406

52, 25153, 73654, 24355, 39054, 395

56, 22558, 13558, 78958, 122

1,550

4,3408,020

12,06012, 83011, 340

10, 6109,0307,700

10, 3909,480

8,1205,5602,6601,070

670

1,0402,2702,1422,0643,395

3,1421,8791,6731,6023,230

2,6542,5512,693

2,3562,3253,682

3,3512,0991,9321,8703,578

2,9042,8222,9364,681

Totallabor

force aspercentof non-institu-tionalpopu-lation

Unemploy-ment as per-cent of civil-

ian laborforce

Percent

(3)

(3)(3)(3)(3)(3)

(3)(3)(3)(3)(3)

56.056.758.862.363.1

61.957.257.457.958.0

58.458.958.858.558.4

58. 759.358.7

57.457.958.0

58.458.958.858.558.4

58.759.358.758.5

3.2

8.715.923.624.921.7

20.116.914.319.017.2

14.69.94.71.91.2

1.93.93.63.45.5

5.03.02.72.55.0

4.03.84.0

3.93.85.9

5.33.33.12.95.6

4.44.24.36.8

See footnotes at end of table.

158


TABLE D-17.—Noninstitutional population and the labor jorce^ 1929-58—Continued

Period

New definitions 2

1956: JanuaryFebruary, ._MarchApril-MayJune

JulyAugustSeptember. .OctoberNovember. .December...

1957: JanuaryFebruary. _ _MarchApril-MayJune

July...AugustSeptember ..OctoberNovember. .December ...

1958: JanuaryFebruary. _ .MarchApril..MayJune

JulyAugustSeptember _ _OctoberNovember..December. __

Nonin-stitu-tionalpopu-lation i

Totallaborforce

(includ-ing

armedforces) i

Armedforces i

Civilian labor force

Total

Employment 2

TotalAgri-cul-

tural

Non-agri-cul-tural

Unem-ploy-

ment2


118, 080118, 180118, 293118,367118, 537118,632

118, 762118,891119,047119, 198119,344119, 481

119,614119, 745119,899120, 057120, 199120,383

120, 579120, 713120, 842120, 983121, 109121, 221

121, 325121, 432121, 555121, 656121, 776121,900

121, 993122, 092122, 219122, 361122, 486122, 609

68, 69168, 39768,80669, 43470,71172, 274

72, 32571, 78770, 89670,90570,56069, 855

68,63869, 12869, 56269, 77170, 71472, 661

73, 05171,83371,04471,29970, 79070, 458

69, 37969, 80470, 15870,68171,60373, 049

73, 10472, 70371, 37571, 74371, 11270, 701

2,9162,9062,8932,8792,8652,844

2,8362,8402,8272,8232,8282,826

2,8172,8172,8162,8202,8212,819

2,8232,8392,8192,7862,7292,688

2,6472,6442,6482,6542,6382,631

2,6312,6362,6352,6322,6272, 620

65, 77565, 49165, 91366, 55567, 84669, 430

69, 48968,94768,06968, 08267, 73267, 029

65, 82166, 31166, 74666, 95167, 89369, 842

70, 22868, 99468, 22568,51368,06167, 770

66, 73267,16067, 51068, 02768, 96570, 418

70, 47370, 06768, 74069, 11168, 48568, 081

62,68462,35462, 78763, 79964,95066, 027

66, 35466, 42065, 77465, 95565, 08464,306

62, 57863,19063, 86564,26165, 17866,504

67, 22166, 38565, 67466,00564,87364, 396

62, 23861, 98862,31162,90764, 06164, 981

65, 17965, 36764,62965, 30664, 65363, 973

5,6255,4635,6626,3867,1207,859

7,6747,2377,3767,1686,1905,105

4,9355,1955,4345,7556,6597,534

7,7726,8236,5186,8375,8175,385

4,9984,8305,0725,5586,2726,900

6,7186,6216,1916,4045,6954,871

57, 05956, 89157, 12457, 41057, 83058, 166

58, 68059, 18458, 39558, 78558, 89359, 199

57,64357, 99658, 43158, 50658, 51958, 970

59, 44959, 56259, 15659, 16859, 05759, 012

57, 24057, 15857, 23957, 34957, 78958, 081

58, 46158, 74658, 43858, 90258, 95859, 102

3,0923,1363,1252,7552,8963,403

3,1342,5272,2952,1272,6482,723

3,2443,1212,8822,6902,7153,337

3,0072,6092,5522,5083,1883,374

4,4945,1735,1985, 1204,9045,437

5,2944,^994,1113,8053,8334,108

Totallabor

force aspercentof non-institu-tionalpopu-lation

Unemploy-ment as per-cent of civil-

ian laborforce

Unad-justed

Season-ally ad-justed

Percent

58.157.958.258.759.760.9

60.960.459.659.559.158.5

57.457.758.058.158.860.4

60.659.558.858.958.558.1

57.257.557.758.158.859.9

59.959.558.458. 658.157.7

4.74.84.74.14.34.9

4.53.73.43.13.94.1

4.94.74.34.04.04.8

4.33.83.73.74.75.0

6.77.77.77.57.17.7

7.56.76.05.55.66.0

4-04.14.34.14.44-4

4.4

i'o114-1

4.24-13.94.04.14-2

4.24.34.54.74.95.0

5.8ft. 77.07.57.26.8

7.57.67.27.15.96.1

1 Data for 1940-52 revised to include about 150,000 members of the armed forces who were outside thecontinental United States in 1940 and who were, therefore, not enumerated in the 1940 Census and wereexcluded from the 1940-52 estimates.

2 See Note.3 Not available.NOTE.—Civilian labor force data beginning with May 1956 are based on a 330-area sample. For January

1954-April 1956 they are based on a 230-area sample; for 1946-53 on a 68-area sample; for 1940-45 on a smallersample; and for 1929-39 on sources other than direct enumeration.

Effective January 19--7. persons on layoff with definite instructions to return to work within 30 daysof layoff and persons waiting to start new wage and salary jobs within the foltowing 30 days are classifiedas unemployed. Such persons had previously been classified as employed (with a job but not at work).The combined total of the groups changing classification has averaged about 200,000 to 300,000 a month inrecent years. The small number of persons in school during the survey week and waiting to start newjobs are classified as not in the labor force instead of employed as formerly. Persons waiting to open newimsinesses or start new farms within 30 days continue to be classified as employed. (New definitionsseries for periods prior to January 1957 are Census Bureau estimates under the old definitions adjusted byCouncil of Economic Advisers to the new definitions.)

Beginnim: July 1955, monthly data are for the calendar week containing the 12th of the month; previ-ously, for week containing the 8th. Annual data are averages of monthly figures.

For the years 1940-52, estimating procedures made use of 1940 Census data; for subsequent years, 1950Census data were used. For the effects of this change on the historical comparability of the data, seeAnnual Report on the Labor Force, 1954, Series P-50, No. 59, April 1955, p. 12.


Sources: Department of Commerce, Department of Labor (labor force, 1929-39), and Council ofEconomic Advisers.

159


TABLE D-18.—Employment and unemployment, by age and sex, 1942—58

[Thousands of persons 14 years of age and over]

Period

Old definitions ;i

194219431944

19451946194719481949

19501951195219531954

19551956

New definitions:1

19571958

1957: JanuaryFebruary...MarchAprilMav . ...June .

JulyAugustSeptember-OctoberNovember-December..

1958: JanuaryFebruary. __MarchAprilMay-June .

JulyAugustSeptember..OctoberNovember..December. .

Totalcivil-ian

laborforce

56, 41055, 54054, 630

53,86057, 52060,16861, 44262; 105

63, 09962, 88462, 96663, 81564, 468

65, 84767, 530

67, 94668,647

65, 82166, 31166, 74666, 95167, 89369, 842

70, 22868, 99468, 22568,51368, 06167, 770

66,73267, 16067, 51068, 02768,96570, 418

70, 47370, 06768,74069, 11168, 48568,081

Employed

Totalem-

ployed

53,75054, 47053,960

52,82055,25058, 02759, 37858, 710

59, 95761, 00561,29362, 21361, 238

63,19364, 979

65,01163, 966

62, 57863,19063, 86564, 26165, 17866, 504

67, 22166, 38565, 67466,00564, 87364, 396

62, 23861, 98862, 31162, 90764,06164, 981

65, 17965, 36764, 62965,30664, 65463, 974

14-19years

5,7706,3506,050

5,4804,5504,7174,8414,512

4,5644,6144, 5304,5144,285

4,4464,764

4,7194,512

3,8713,9734,0874,2044,4755,667

6,3325,9534,6804,6784,3384,384

3,8053,8443,8784,0164,3615,308

5,7565,7974,4164,4684,2384,252

20-44 years

Male

20,79017, 55016, 380

15, 83021, 17023,40923, 84223, 483

23, 83323, 59423, 37223, 71523, 178

23, 76824, 051

23, 99223, 374

23, 59823, 58323, 80723, 91124, 08424, 346

24, 49024,45024, 19924, 10123, 83223, 513

23, 02222, 73822, 81823, 01823,26623, 513

23, 56723,76923, 73023, 82323, 76323,467

Fe-male

9,40011, 05011, 280

11, 1409,8709,828

10, 09810,087

10, 37610, 83310, 91710, 95310, 730

11,00011, 271

11, 24711, 028

10, 79711,06611,07711, 09111, 27611, 191

11,20111,06711,41611, 76611,55011, 465

10, 89010, 77910, 87710, 94211,13110, 983

10,88710, 89111, 12511, 45011,28611,096

45 yearsand over

Male

14,16015,16015, 480

15,52015,28015, 47415, 67715, 491

15, 66616, 14416, 34516, 72516,649

16, 87817,294

17, 24717, 036

16, 84616, 95517, 10917, 21217, 40717, 480

17, 38517, 30417, 43017, 43117, 27417, 125

16, 83716, 78416, 74616, 88817, 13717, 146

17, 11917, 05817, 23617, 35117, 17216, 964

Fe-male

3,6304,3604,770

4,8504,3804,6004,9245,138

5,5175,8196,1306,3066,395

7,1017,598

7,8038,015

7,4687,6127,7867,8437,9367,820

7,8147,6137,9458,0307,8787,909

7,6827,8447,9948,0398,1678,031

7,8517,8528,1228,2148,1958,194

Unemployed

Totalunem-ployed

2,6601,070

670

1,0402,2702,1422,0643,395

3,1421,8791,6731,6023,230

2,6542,551

2,9364,681

3,2443,1212,8822,6902,7153,337

3,0072,6092,5522,5083,1883,374

4,4945,1735,1985,1204,9045,437

5,2944,6994,1113,8053,8334,109

14-19years

510290200

190290425415595

543356362312515

471510

574758

493465497461566

1,105

847553436401547512

578640603673776

1,360

1,200754695601625587

20-44 years

Male

670180140

3301,200

920757

1,329

1,119515495512

1,158

854784

9361,715

1,0781,086

947915790874

828779802809

1,0231,294

1,8392,0952,1471,9591,8121,836

1,8481,6331,3651,2651,2581,529

Fe-male

520260170

270280303353559

552419344300617

502491

566850

652566506517556606

582554555523638541

779932894937915906

886907838752745707

45 yearsand over

Male

770240110

200410396414719

697402345363684

606530

605966

731724671606563528

499479505528667768

9201,1031,1711,114

992916

930968825807874968

Fe-male

19010050

509099

127194

232190127116256

222239

254392

289280262192242225

251244251248313258

377400382436410420

428436387381330316

1 See Note, Table D-17 for explanation of differences between the old and new definitions.

NOTE.—Data are not available prior to 1942 for all the age/sex groups above.See Note, Table D-17 for information on area sample used and reporting periods.Detail will not necessarily add to totals because of rounding.

Source: Department of Commerce.

160


TABLE D—19.—Employed persons not at work, by reason for not working, and special groupsof unemployed persons, 1946-58 *

[Thousands of persons 14 years of age and over]

Period

1946..194719481949

195019511952 .. .19531954

1955195619571958

1957' JanuaryFebruaryMarch .AprilMayJune .. . -

July.AugustSeptemberOctoberNovemberDecember

1958' JanuaryFebruaryMarch .AprilMayJune

July..AugustSeptemberOctoberNovemberDecember

Employed persons not at work,by reason for not working

Total

2,1032,2602,4902,243

2,4402,4592, 5552,5292,688

2,6832,8883, 0173,076

1,9942,C111,9051,8222,0563,358

7,0146.0482,7772,5712,4922,161

2,2972,8212,1492,3161,9023, 305

7,3155,8932,7312,2241,9711,991

Badweather

(6)211197110

151111689673

103109139182

354?2616713914961

17254753

175257

3427082711354065

14527292044

353

Indus-trial

dispute

(6)959779

8557

1647353

61764559

122640404666

1138141341627

222754415045

315858

2063385

Vacation

662834

,044,044

,137,073,130,171,361

,268,346

1,4471,479

313342342429707

1,959

5,5774,5221,430

794524421

330353324742584

1,867

5,7814,5171,512

788602353

Illness

819847844719

718782775827776

835901962882

876999975896810783

793885857

1,3421,339

989

1,1451,2021,026

938836751

745736737821850801

Allother

reasons 2

(8)273308291

349436418362425

416456425474

442418382317344489

514535402348438467

458531474460391577

612555395389442399

Special groups of un-employed persons 3

Tempo-rary

layoff «

97123141185

92117142167221

133124150166

202149102143142137

189129148181121160

187227201207160156

176154112129153129

New wageand salary

jobs

5892

121101

116103117101127

117147110120

103938368

147251

13610599548496

61686488

188328

130175135705677

1 Data prior to 1957 are Census Bureau estimates adjusted by Council of Economic Advisers to the newdefinitions of employment and unemployment.

2 Includes persons waiting to open new businesses or start new farms within 30 days.3 Under the old definitions of employment and unemployment, these groups were included in the

"employed but not at work" category.4 Persons on layoff with definite instructions to return to work within 30 days of the layoff.5 Persons scheduled to start new wage and salary jobs within 30 days. Under the old definitions, the

"new job or business" group included these persons as well as persons waiting to open new businesses orstart new farms within 30 day? (see "all other" category in this table) and persons in school during thesurvey week and waiting to start, new jobs (these are now classified as "not in the labor force").

6 Not available.NOTE.—See Note, Table D-17 for information on area sample used and reporting periods.Detail will not necessarily add to totals because of rounding.


161


TABLE D-20.—Unemployed persons, by duration oj unemployment, 1946-58

Period

Old definitions: *

1946194719481949

19501951195219531954

19551956

New definitions: >

1957 . .1958

1957: First quarterSecond quarterThird quarter.Fourth quarter


Total un-employed

Duration of unemployment

4 weeksand under

5-14weeks

15-26weeks

Over 26weeks


2,2702,1422,0643,395

3,1421,8791,6731,6023,230

2,6542,551

2, 9364,682

3,0822,9142,7233,023

4, 9555,1544,7013,915

(2)1,0411,0871,517

1,3071,003

925910

1,303

1, 1381,214

1,4851,833

1,3821,5591,4691,530

1,9022,0241,7851,619

(2)704669

1,195

1,055574517482

1,115

815804

8901,397

1,108738781935

1,9001,3771,322

986

(2)234193427

425166148132495

367301

321785

371359245309

7991,126

683533

141164116256

3571378479

317

336232

239667

223258228248

354626911776

Averagedurationof unem-ployment(weeks)

(3)9.88.6

10.0

12.19.78.38.1

11.7

13.211.3

10.413.8

10.610.79.8

10.3

11.113. 515.315.9

1 See Note, Table D-17 for explanation of differences between the old and new definitions.2 For duration of less than 6 months, data are available only for under 3 months (1,568,000) and 3 to 6

months (564,000).3 Not available.

NOTE.—See Note, Table D-17 for information on area sample used and reporting periods.Detail will not necessarily add to totals because of rounding.Source: Department of Commerce.

l62


TABLE D-21.—Unemployment insurance programs, selected data, 1939 and 1946-58

Period

1939.

State,veteran,

andFederal

employeepro-

grams 2

188

1946 3411947 f 2801948 2821949 375

1950.1951 2111952 2151953 2221954 310

1955 2361956 2341957 27619581° 11 379

1957: January 347February 256March 219April 254May 221June 226

July 280August 196September 250October 263November 325December 466

1958: January 505February 461March 435April 457May 355June.

July 367August 302September 273October 276November " 328December10 "415

Initial claims 1

Statepro-

grams 3

Insured unem-ployment 4

All pro-grams 5

Statepro-

grams 3 6

Exhaus-tions,Statepro-

grams 3 ;

Weekly average (thousands)

188

189187210323

236208215217303

228229271372

340251214250218220

276191246259320460

497454427451349360

361298269274315405

2, 8031,8041,4652,474

1,599996

1,0641,0582,039

1,3881,3121, 560

11 2, 727

1,8501,8461,7001,5651,4241,319

1,3681,2281,2401,3141,6232,256

3,0653,3753,5053,5273,1862,847

2,7172,3742,0621,863

11 1,95711 2,300

1,086

1,2941,008

9991,973

1,497965

1,019988

1,857

,269,225,466,537

,737,730,592,475,350,251

,285,151,167,237,513

2,112

2,8773,1633,2763,3022,9842,667

2,5112,2031,9061,7221,7812,106

Stateinsuredunem-ploy-mentas per-cent ofcoveredemploy-

ment(per-

cent)3 4

4.33.13.06.2

4.62.82.92.85.2

3.43.13.56.1

4.44.34.03.63.33.0

3.12.82.83.03.65.1

6.97.67.97.97.16.3

6.05.24.54.14.35.0

Benefits paidunder State pro-

grams 3

Total(millions

of dollars)s

429.3

1,094. 9775.1789.9

1,736.0

1,373.1840.4998.2962.2

2,026. 9

1,379.21,409.31, 766. 43,475. 0

177. 6164.9168.8154.3145.7123. 5

130.1121.3113.3131.8136.6207.1

313. 0320.2370.2403.8363.6325.0

305. 6255. 4231.1210.3174.5206.0

Averageweeklycheck

(dollars) s

10.66

18.5017.8319.0320.48

20.7621.0922.7923.5824.93

25.0827.0628.2130. 55

27.7327. 8527.7227.7227.4727.44

27.5927.8728.6429.2029.4429.75

30.0930.4830.5330.8830.8030.80

30.6230. 5030.6630.4530.3330. 50

1 Most of these are instances of new unemployment.2 Data on veterans relate to those under the following programs: Servicemen's Readjustment Act

which became effective in October 1944 and expired for most veterans in July 1949, and Veterans Read-justment Assistance Act of 1952, effective October 15, 1952.

3 Beginning 1955, data include State programs and the program for Federal employees; all prior yearsare for State programs only. Beginning 1956, data also include workers added by the extension of cov-erage to smaller firms.

4 Represents the number of unemployed workers covered by unemployment insurance programs whohave completed at least one week of unemployment. Excludes territories.

5 State, veteran, Railroad Retirement, and Federal employee programs.6 State unemployment insurance programs during the period shown excluded from coverage agricultural

workers, domestic servants, workers in nonprofit organizations, unpaid family workers, the self-employed,and (in most States) workers in very small firms.

7 Represents the number of individuals who received payment for the final week of compensable unem-ployment in a benefit year. Workers who have exhausted benefit rights do not necessarily remain unem-ployed; some find employment, and others withdraw from the labor force.

8 Monthly totals are gross amounts; annual figures are adjusted for voided benefit checks.9 For total unemployment only.

1° Preliminary.11 Includes activities under the unemployment compensation program for ex-servicemen, which became

effective October 27, 1958.

Source: Department of Labor.

163


TABLE D-22.—Number of wage and salary workers in nonagricultural establishments, 1929-58 1

[Thousands of employees]

Period

1929

193019311932 ..19331934

1935 . .1936393719381939

19401941194219431944

19451946194719481949

19501951195219531954

1955195619571958 4

1956: JanuaryFebruary. ..MarchAprilMayJune

JulyAugustSeptember ._OctoberNovember..December . _

1957: JanuaryFebruary. --MarchAprilMay .June.

July..AugustSeptember..OctoberNovemberDecember .

Totalwageand

salarywork-

ers

31, 041

29, 14326, 38323, 37723, 46625, 699

26, 79228, S0230, 71828, 90230,311

32, 05836, 22039, 77942, 10641, 534

40, 03741. 28743, 46244, 44843, 315

44, 73847, 34748, 30349, 68148, 431

50, 05651,76652, 16250, 531

Manufacturing

Total

10, 534

9,4018,0216,7977,2588,346

8,9079,653

10, 6069, 253

10, 078

10, 78012, 97415, 05117, 38117, 111

15, 30214, 46115,29015, 32114, 178

14, 96716, 10416. 33417, 23815, 995

16, 56316, 90316, 78215, 462

Du-rablegoods

(»)

(3)(3)(3)(3)(3)

(3)(3)(3)(3)

4,683

5,3376,9458,804

11,07710, 858

9,0797, 7398,3728,3127,473

8,0859,0809,340

10, 1059,122

9,5499,8359,8218,739

Non-dura-ble

goods

(3)

(3)(3)(3)(3)(3)

(••)(3)(3)(3)

5,394

5,4436,0286,2476, 3046,253

6,2226, 7226,9187,0106,705

6,8827,0246,9947, 1336,873

7,0147,0686,9616,723

Min-ing

1,078

1,000864722735874

888937

1,006882845

916947983917883

826852943982918

889916885852777

777807809721

Con-tractcon-

struc-tion

1,497

1,3721,214

970809862

91?1,1451,1121,0551,150

1,2941,7902,1701,5671,094

1,1321,6611,9822,1692, 165

2, 3332,6032, 6342,6222,593

2,7592,9292,8082,649

Trans-porta-tionand

publicutili-ties

3,907

3,6753,2432,8042,6592,736

2,7712,9563,1142,8402,912

3, 0133,2483,4333,6193,798

3,8724,0234,1224,1413, 949

3,9774, 1664, 1854,2214,009

4,0624,1614,1513,905

Trade 2

6,401

6,0645,5314,9074,9995,552

5, 6926,0766,5436,4536,612

6,9407,4167, 3337,1897,260

7,5228,6029,1969,5199, 513

9, 64510, 01210, 28110, 52710r 520

10, 84611,22111,30211, 136

Fi-nance

1,431

1,3981,3331,2701,2251,247

1,2621, 3131,3551, 3471,399

1,4361,4801,4691, 4351,409

1,4281,6191,6721.7411, 765

1,8241,8921, 9672,038?, 122

2,2192,3082,3482,375

Serv-ice 2

3,127

3,0842,9132,6822,6142,784

2,8833,0603.2333,1963, 321

3, 4773,7053,8573, 9193,934

4,0114,4744,7834,9?54,972

5, 0775,2645,4115,5385,664

5,9166,1606,3366,394

Gov-ern-

ment(Fed-eral,State,and

local)

3,066

3,1493, 2643,2253,1673,298

3,4773,6623,7493,8763,995

4,2024,6605,4836,0806,043

5,9445,5955, 4745,6505, 856

6, 0266, 3896,6096, 6456,751

6,9147,2777,6267,889

Seasonally adjusted

51,30151, 39151, 30351, 63151, 76751, 963

51, 34552, 02951,95352, 13752, 15652, 251

52, 19452, 25452, 20752, 24352, 34052, 415

52, 46452, 45752, 22452, 01551,75851,516

16, 95116, 89816, 81216, 93116, 92216, 894

16, 47116,90016, 87317,04317, 05717, 093

17, 03016, 97816, 94916, 94716, 93016, 909

16,87616, 82616, 67816, 60416, 45516, 252

9,8639,8029,7369,8399,8149,800

9, 4389, 8359,8349,978

10, 03310, 050

10, 0179,9919,9529,9409,9289,921

9,8939,8639,7269,6819, 5629,393

7,0887, 0967,0767,0927,1087,094

7,0337,0657,0397,0657,0247,043

7, 0136,9876,9977,0077,0026,988

6,9836,9636,9526,9236,8936,859

792794801814809822

759819824820814811

808807803812814823

828820814802789784

2,7682,8022,8342, 8912,9643, 079

2,9843,0072,9802,9512,9262,917

2,7982,8312, 8592,8552,8912,899

2,8472,8052,7822,7632,7102,679

4,1544,1414,1314,1444,1634,182

4,1344,1634,1704,1834,1654,175

4,1814,1614,1644, 1574,1584,159

4,1634,1794,1704,1414,1044,070

11,19711,23111, 16311,24211,21511,251

11,22711,26911,20611,24211,23811,246

11,27511,30611,25811,26511,29811,327

11,36811, 40211,34911,31511,29011,237

2,2712,2842,2882,2892,3002,307

2,3062,3292,3282, 3302,3302, 325

2,3212,3302,3292,3262,3352,342

2,3492,3592, 3662,3732,3722, 365

6, 1086, 1386, 1276,1476,1306, 160

6, 1826,1646,1716,1656,2016, 225

6,2686, 3066,2796,2846,3066, 347

6, 3956,3726,3806, 3436,3676, 382

7, 0607, 1037,1477, 1737,2647,268

7,2827,3787,4017, 4037, 4257, 459

7,5137,5357, 5667, 5977,6087,609

7,6387, 6947, 6857, 6747,6717,747

Sec footnotes at end of table.

164


TABLE D-22.—Number of wage and salary workers in nonagr{cultural establishments, 1929-58*—Continued

[Thousands of employees]

Period

1958: JanuaryFebruary. .-MarchAprilMay _ _June

JulyAugust .September--OctoberNovember 4-December 4 .

Totalwageand

salarywork-

ers

Manufacturing

TotalDu-

rablegoods

Non-dura-ble

goods

Min-ing

Con-tractcon-

struc-tion

Trans-porta-tionand

publicutili-ties

Trade 2 Fi-nance

Serv-ice 2

Gov-ern-

ment(Fed-eral,State,andlocal)

Seasonally adjusted

51, 22350,57550, 21950, 05450, 14750, 315

50, 41150, 57050, 78050, 58250, 82550. 736

15, 96515, 64815, 38915, 24315, 20215, 275

15,31215, 33015,52915, 35815, 66415, 667

9,1558,8958,7178,5668,4988,556

8,5968,6058,8018,6258,9148,940

6,8106,7536,6726,6776, 7046,719

6,7166,7256,7286,7336,7506,727

766747733723718713

709701707708708708

2,6522,4552,5732,6242,6982,698

2,6932,7112,6982,6982,6922,550

4,0453,9903,9303,8903,8773,888

3,8773,8673,8583,8873,8763,864

11,30511, 23511,11611,05011,08711, 105

11,12111,17511,15111, 15411,11011, 100

2,3682,3672,3602, 3562,3702,367

2,3632,3772,3922,3922,3892,384

6,3686,3676,3306,3526,3606,392

6,4336, 4206,4406,3996,4246,446

7,7547,7667,7887,8167,8357,877

7,9037,9898,0057,9867. 9628,017

1 Includes all full- and part-time wage and salary workers in nonagricultural establishments who workedduring, or received pay for, any part of the pay period ending nearest the 15th of the month. Excludesproprietors, self-employed persons, domestic servants, and unpaid family workers. Not comparable withestimates of nonagricultural employment of the civilian labor force (Table D-17) which include proprietors,self-employed persons, domestic servants, and unpaid family workers, which count persons as employedwhen they are not at work because of industrial disputes, bad weather, etc., and which are based on asample survey of households, whereas the estimates in this table are based on reports from employingestablishments.

2 Beginning with 1939, data are not strictly comparable with data shown for earlier years because of theshift of the automotive repair service industry from the trade to the service division.

3 Not available.4 Preliminary.



165489916 0—59


TABLE D-23.—Average weekly hours of work in selected industries, 1929-58

Period

192919301931. .19321933.1934

19351936-193719381939

19401941-..19421943.1944

1945194619471948194919501951.195219531954

195519561957 . .1958«

1957: JanuaryFebruary. ....March .AprilMayJune-JulyAugustSeptemberOctoberNovemberDecember

1958: JanuaryFebruaryMarchAprilMav .. -. .JuneJulyAugustSeptemberOctoberNovember 6 _ .December 6-._

Manufacturing

Total

44.242.140.538.338.134.636.639.238.635.637.738.140.642.944.945.243.440.440.440.139.2

40.540.740.740.539.740.740.439.839.2

40.240.240.139.839.740.039.840.039.939.539.339.438.738.438.638.338.739.239.239.639.939.839.940.2

Du-rablegoods

(3)(3)(3)32.634.833.937.341.040.035.038.039.342.145.146.646.644.140.240.640.539.541.241.641.541.340.2

41.441.140.339.540.940.940.840.540.340.540.040.340.239.839.739.738.938.639.038.839.139.639.439.840.240.140.340.7

Non-du-

rablegoods

(3)(3)(3)41.940.035.136.137.737.436.137.437.038.940.342.543.142.340.540.139.638.8

39.739.539.639.539.0

39.839.539.138.839.139.239.138.838.939.239.439.539.639.038.839.038.338.138.137.738.138.739.039.439.539.439.439.6

Bitumi-nouscoal

mining

38.4

33.528.327.229.527.026.428.827.923.527.128.131.132.936.643.4

42.341.640.738.032.6

35.035.234.134.432.6

37.637.836.633.637.538.437.437.035.837.636.336.536.936.433.535.534.033.131.730.031. 135.232.435.335.435.835.6(3)

Build-ing

con-struc-tion

(3)(3)(3)(3)(3)28.9

30.132.833.432.132.6

33.134.836.438.439.6

39.038.137.6

437.336.736.337.238.137.036.2

36.236.436.135.734.036.336.036.236.436.936.837.236.836.534.434.935.233.035.235.536.336.236.336.736.536.835.4(3)

Class Irail-

roads i

(3)(3)(3)(3)(3)fl)

(3)(3)(3)(3)43.744.345.847.048.748.948.546.046.446.243.740.841.040.640.640.841.941.741.741.642.542.240.942.042.441.042.642.341.142.240.940.841.641.540.141.441.241.342.541.242.242.6(3)(3)

Tele-phone 2

(3)

(3)(3)(3)(3)(3)

(3)(3)38.838.939.139.540.140.541.942.3

541.739.437.439.238.538.939.138.538.738.9

39.639.539.038.4

38.739.038.738.739.039.239.538.938.839.240.038.638.038.237.837.737.838.238.538.639.039.039.6(3)

Whole-sale

trade

(3)(3)(3)(3)(3)(3)41.342.642.8

* 42. 241.741.241.041.342.242.9

42.741.541.040.940.740.740.740.640.540.4

40.640.440.240.140.240.240.140.040.140.340.440.440.440.240.040.440.139.839.939.640.040.140.340.240.340.340.1(3)

Retailtrade

(excepteatingand

drink-ing

places)

(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)42.742.542.141.140.340.440.340.740.340.340.440.540.239.939.239.139.038.638.138.038.238.138.037.938.038.238.638.638.137.637.538.337.837.837.837.837.838.238.738.738.037.937.8(3)

Laun-dries

(3)(3)(3)(3)(3)39.441.042.742.641.641.841.842.142.242.942.942.842.942.641.941.541.241.141.140.540.140.340.339.739.339.839.839.940.040.340.439.839.439.639.439.039.539.038.639.039.239.639.839.739.339.339.438.9(3)

1 Averages are based upon monthly data (exclusive of switching and terminal companies) summarizedin the M-300 report by the ICC and relate to all employees who received pay during the month, exceptexecutives, officials, and staff assistants (ICC Group I). Beginning September 1949, data reflect a reduc-tion in the basic workweek from 48 to 40 hours.2 Prior to April 1945, data relate to all employees except executives: from April 1945 to May 1949, mainlyto employees subject to the Fair Labor Standards Act; and beginning June 1949, to nonsupervisory em-ployees only.3 Not available.4 Data beginning with January of year noted are not comparable with those for earlier periods.5 Nine-month average, April through December, because of new series started in April 1945.6 Preliminary.

NOTE.—Data are for production workers in manufacturing and mining, construction workers in buildingconstruction, and for nonsupervisory employees in other industries (except as noted). Data are for payrollperiods ending nearest the 15th of the month.

The annual figures for 1958 are simple arithmetic averages of the monthly figures shown and are notstrictly comparable with the averages for earlier years, which have been weighted by data on employment.


166


TABLE D- 24.—Average gross hourly earnings in selected industries, 1929-58

Period

1929. _ .

19301931 .1932. . .19331934...1935193619371938. . .1939

19401941 .194219431944

194519461947-..19481949 ..

1950. - .19511952 ..19531954

1955.-.195619571958 7 .

1957: JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

1958: JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovember 7 _ _ _December * _ _ _

Manufacturing

Total

$0. 566.552.515.446.442.532

.550

.556

.624

.627

.633

.661

.729

.853

.9611.019

.023

.086

.237

.350

.401

.465

.59

.67

.77

.81

.88

.982.072.13

2.052.052.052.062.062.072.072.072.082.092.112.102.112.102.112.112.122.122.132.132.142.142.172.19

Dura-ble

goods

(4)(<)(4)

$0. 497.472.556

.577

.586

.674

.686

.698

.724

.808

.9471.0591.1171.111.156.292.410.469

.537

.67

.77

.87

.92

2.012.102.202.28

2.182.172.182.182.182.192.202.212.222.232.242.242.242.242.252.252.262.272.282.292.302.292.332.35

Non-dura-ble

goods

(4)(4)(4)

$0. 420.427.515

.530

.529

.577

.584

.582

.602

.640

.723

.803

.861

.9041.0151.1711.2781.325

1.3781.481.541.611.66

1.711.801.881.94

1.861.861.871.871.881.891.891.881.901.901.911.921.921.921.931.941.941.941.941.931.951.951.961.97

Bitu-minous

coalmining

$0. 681.684.647.520.501.673.745.794.856.878.886

.883

.9931. 0591.1391.186

.240

.401

.636

.898

.941

2.0102.212.292.482.482.562.813.023.02

2.952.932.933.023.013.053.093.043.063.043.053.043.043.043.043.023.003.023.023.003.013.013.03

(4)

Build-ingcon-

struc-tion

(4)(4)(4)(4)(4)

$0. 795.815.824.903.908.932

.958

.010

.148

.252

.319

.379

.4781.681

51.8481.9352.0312.192.312.482.602.662.802.963.09

2.912.922.902.912.932.94

2.952.973.023.023.033.053.073.083.063.063.063.063.093.093.133.133.13

(4)

Class Irail-

roads i

(4)(4)(4)(4)(4)(4)(4)(4)(4)(4)

$0. 730.733.743.837.852.948

.9551.0871.1861.3011.4271.5721.731.831.881.931.962.122.262.43

2.192.242.202.212.232.272.242.262.282.252.402.402.382.442.402.392.432.452.432.452.452.43

(4)(4)

Tele-phone2

(4)(4)(4)(4)(4)(4)(4)(4)

$0. 774.816.822

.827

.820

.843

.870

.9116.9621.1241.1971.2481.345

1. 3981.491.591. 681.761.821.861.952.05

.91

.92

.92

.93

.94

.95

.94

.94

.95

.97

.982.012.012.012.022.032. C42.052.062.072.082.092.08

(4)

Whole-sale

trade

(4)(4)f 4)(4)(4)(4)

$0. 648.667.698

5. 700.715

.739

.793

.860

.933

.985

1.0291.150.268.359.414

.483

.58

.671.771.83

1.902.012.102.172.062.062.072.072.092.112.112.112.132.132.142.142.132. 152.152.152.162.182.192. 182.202.182.19(4)

Retailtrade

(excepteatingand

drinkingplaces)

(4)(4)(4)(4)(4)(4)(4)(4)(4)(4)

$0. 542.553.580.626.679.731.783.893

1.0091.0881. 1371.1761.261.321.401.451.501.571.641.701.611.611.611.621.641.661.671.661.671.671.661.631.681.681.671.681.691.701.711.711.711.711.71(4)

Laun-dries

(4)(4)(4)(4)(4)

$0. 378.376.378.395.414.422.429.444.482.538.605.648.704.767.817.843.861.92.94.98

1.001.011.051.091.131.071.071.071.081.091.091.091.101.111.111.111.111.121.121.121.131.131.141.141.141.141.141.14(4)

Agri-cul-ture 3

$0. 241.226. 172.129.115.129.142.152.172.166.166.169.206.268.353.423.472.515.547.580.559.561.625.661.672.661.675.705.728.757.785

.643

.717

.757

.804

.657

.728

""."795

1 Averages are based upon monthly data (exclusive of switching and terminal companies) summarized inthe M-300 report by the ICC and relate to all employees who received pay during the month, except execu-tives, officials, and staff assistants (ICC group I). Beginning September 1949, data reflect a wage rateincrease and reduction in basic workweek from 48 to 40 hours.

2 Prior to April 1945, data relate to all employees except executives; from April 1945 to May 1949, mainly toemployees subject to the Fair Labor Standards Act; and beginning June 1949, to nonsupervisory employeesonly.

Weighted average of all farm wage rates on a per hour basis.Not available.Data beginning with January of year noted are not comparable with those for earlier periods.Nine-month average, April through December, because of new series started in April 1945.Preliminary.

NOTE.—Data are for production workers in manufacturing and mining, construction workers in buildingconstruction, and for all nonsupervisory employees in other industries (except as noted). Data are for pay-roll periods ending nearest the 15th of the month.

The annual figures for 1958 are simple arithmetic averages of the monthly figures shown and are notstrictly comparable with the averages for earlier years, which have been weighted by data on man-hours.

Sources: Department of Labor and Department of Agriculture.

167


TABLE D-25.—Average gross weekly earnings in selected industries, 1929-58

Period

1929

1930193119321933193419351936193719381939194019411942194319441945194619471948194919501951 .19521953. -19541955195619571958 •1957: January

FebruaryMarchApril...MayJuneJulyAugustSeptemberOctoberNovemberDecember

1958: JanuaryFebruaryMarchAprilMay ..JuneJuly...AugustSeptemberOctoberNovember 6...December 6 _ _ .

Manufacturing

Total

$25. 03

23.2520.8717.0516.7318.4020.1321.7824.0522.3023.8625.2029. 5836.6543.1446.0844.3943.8249.9754. 1454.9259. 3364.7167.9771.6971.8676.5?79.9982.3983.5082.4182.4182.2181.9981.7882.8082.3982.8082.9982.5682.9282.7481.6680.6481.4580.8182.0483.10

83.5084.3585.3985.1786.5888.04

Dura-ble

goods

$27. 22

24.7721.2816.2116.4318.8721.5224.0426.9124.0126. 5028.4434.0442.7349.3052.0749.0546.4952.4657.1158.0363.3269.4773.4677.2377.1883.2186.3188.6690.0689.1688.7588.9488.2987.8588.7088.0089.0689. 2488.7588.9388.9387.1486.4687.7587.3088.3789.8989.8391.1492.4691.8393.9095.65

Non-durablegoods

$22. 93

21.8420.5017.5716.8918.0519.1119.9421.5321.0521.78

22.2724.9229.1334.1237.12

38.2941.1446.9650.6151.41

54.7158.4660.9863.6064.7468.0671.1073.5175.2772.7372.9173.1272.5673.1374.0974.4774.2675.2474.1074.1174.8873.5473.1573.5373.1473.9175. 08

75.6676.0477.0376.8377.2278.01

Bitumi-nouscoal

mining

$25. 72

22.2117.6913.9114.4718.1019.5822.7123.8420.8023.8824.7130.8635.0241.6251.2752.2558.0366.5972.1263.2870. 3577.7978.0985.3180.8596.26

106. 22110. 53101.47110. 63112.51109. 58111.74107. 76114.68112.17110.96112.91110.66102. 18107. 92103. 36100. 6296.3790.6093.30

106. 3097.85

105.90106. 55107. 76107. 87

(3)

Build-ingcon-

struc-tion

(3)

(3)(3)(3)(3)

$22. 9724.5127.0130.1429.1930.3931.7035. 1441.8048.1352.18

53.7356.2463.30

< 68. 8570.9573.7381.4788.0191.7694.1296.29

101. 92106. 86110.3198.94

106. 00104. 40105. 34106. 65108. 49108. 56110. 48111.14110.23104. 23106. 45108. 06101.64107. 71108. 63111.08110. 77112. 17113.40114. 25115.18110.80

(3)

Class Irail-

roads i

(3)

(3)(3)(3)(3)(3)(3)(3)(3)(3)

$31. 9032.4734.0339.3441.4946.3646.3250.0055.0360.1162.3664.1470.9374.3076. 3378.7482.1288.4094.24

101. 0993.0894.5389.9892.8294.5593.0795.4295.6093.7194.9598.1697.9299.01

101. 2696.2498.95

100.12101. 19103. 28100. 94103. 39103. 52

(3)(3)

Tele-phone 2

(3)(3)(3)(3)(3)(3)(3)(3)

$30. 0331.7432.1432.6732.8834.1436.4538.54

s 40. 1244.2944. 7748.9251.7854. 3858.2661.2265. 0268.4672.0773.4776.0578.7273.9274.8874.3074.6975.6676.4476.6375.4775.6677.2279.2077.5976.3876.7876.3676.5377.1178.3179.3179.9081.1281.5182.37(3)

Whole-sale

trade

(»)(3)(8)

$27. 7226.1126.3726.7628.4129.87

* 29. 5429.8230.4532.5135. 5239. 3742.2643.9447.7351.9955.5857. 5560.3664.3167.8071.6973.9377.1481.2084.4287.0282.8182.8183.0182.8083.8185.0385.2485.2486.0585.6385.6086.4685.4185.5785.7985.1486.4087.4288.2687.6488.6687. 8587.82(3)

Retailtrade

(excepteating

anddrink-

ingplaces)

(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)

$23. 1423.5024.4225.7327.3629. 5331.5536.3540.6643.8545.9347.6350.6552.6754.8856.7058.5060.6062.4864.6061.5061.3461.1861.4062.3263.4164.4664.0863.6362.7962.2562.4363.5063.5063.1363.5063.8864.9466.1866.1864.9864.8164.64(3)

Laun-dries

(3)(3)(3)(3)(3)

$14. 8915.4216.1416.8317.2217.6417.9318.6920.3423.0825.9527.7330.2032.7134.2334.9835.4737.8138.6339.6940.1040.7042.3243.2744.4142.5942.5942.6943.2043.9344.0443.3843.3443.9643.7343.2943.8543.6843.2343.6844.3044. 7545.3745.2644.8044.8044.9244.35(»)

1 Averages are based upon monthly data (exclusive of switching and terminal companies) summarized inthe M-300 report by the ICC and relate to all employees who received pay during the month, except execu-tives, officials, and staff assistants (ICC group I). Beginning September 1949, data reflect a wage rateincrease and reduction in the basic workweek from 48 to 40 hours.

2 Prior to April 1945, data relate to all employees except executives; from April 1945 to May 1949, mainly toemployees subject to the Fair Labor Standards Act; and beginning June 1949, to nonsupervisory employeesonly.

3 Not available.4 Data beginning with January of year noted are not comparable with those for earlier periods.5 Nine-month average, April through Dec " * " ' "9 Preliminary.

i December, because of new series started in April 1945.

NOTE.—Data are for production workers in manufacturing and mining, construction workers in buildingconstruction, and for nonsupervisory employees in other industries (except as noted). Data are for pay-roll periods ending nearest the 15th of the month.



168


TABLE D-26.—Average weekly hours and hourly earnings, gross and excluding overtime, inmanufacturing industries, 1939-58

Period

1939

194019411942... _19431944

19451946194719481949

195019511952..19531954

19551956195719583

1957: JanuaryFebruaryMarchAprilMay ...June

JulyAugustSeptemberOctober.. _NovemberDecember

1958: JanuaryFebruaryMarch. .AprilMayJune

JulyAugust .SeptemberOctoberNovember 3

December 3

All manufacturingindustries

Averageweeklyhours

Gross

37.7

38.140.642.944.945.2

43.440.440.440.139.2

40.540.740.740.539.7

40.740.439.839.2

40.240.240.139.839.740.0

39.840.039.939.539.339.4

38.738.438.638.338.739.2

39.239.639 939.839.940.2

Ex-clud-ing

over-time

0)

0)0)0)0)0)

0)0)0)0)0)

0)0)0)0)0)

0)37.637.437.2

37.637.737.637.537.537.6

37.437.637.437.237.037.4

37.036.837.036.837. Oj37.3

37.337.337.537.437.4;

37.5J

Averagehourly

earnings

Gross

$0. 633

.661

.729

.853

.9611.019

.023

.086

.237

.350

.401

.465

.59

.67

.77

.81

1.881.982.072.13

2.052.052.052.062.062.07

2.072.072.082.092.112.10

2.112.102.112.112.122.12

2.132.132.142.142.172.19

Ex-clud-ing

over-time

0)

0)$0. 702

.805

.894

.947

2.9631.0511.1981.3101.367

.415

.53

.61

.71

.76

.82

.912.012.07

1.981.991.992.002.002.01

2.012.012.022.032.052.05

2.062.062.072.072.072.07

2.082.072.082.082.110)

Durable goods manufac-turing industries

Averageweeklyhours

Gross

38.0

39.342.145.146.646.6

44.140.240.640.539.5

41.241.641.541.340.2

41.441.140.339.5

40.940.940.840.540.340.5

40.040.340.239.839.739.7

38.938.639.038.839.139.6

39.439.840.240.140.340.7

Ex-clud-ing

over-time

0)

0)0)0)0)0)

0)0)0)0)0)

0)0)0)0)(0

0)38.137.937.6

38.038.238.238.138.138.1

37.738.037.737.537.537.8

37.337.137.537.437.637.9

37.637.737.937.737.838.0

Averagehourly

earnings

Gross

$0. 698

.724

.808

.9471.0591.117

1.1111.1561.2921.4101.469

1. 5371.671.771.871.92

2.012.102.202.28

2.182.172.182.182.182.19

2.202.212.222.232.242.24

2.242.242.252.252.262.27

2.282.292.302.292.332.35

Ex-clud-ing

over-time

0)

0)$0. 770

.881

.9761.029

21.0421.1221.2501.3661.434

1.4801.601.701.801.86

1.932.032.142.22

2.102.112.112.122.122.13

2.142.142.162.172.182.19

2.202.202.212.212.212.22

2.232.232.242.232.260)

Nondurable goods manu-facturing industries

Averageweeklyhours

Gross

37.4

37.038.940.342.543.1

42.340.540.139.638.8

39.739.539.639.539.0

39.839.539.138.8

39.139.239.138.838.939.2

39.439.539.639.038.839.0

38.338.138.137.738.138.7

39.039.439.539.439.439.6

Ex-clud-ing

over-time

0)

0)0)0)0)0)

0)0)0)0)0)

(0(00)0)0)

0)37.036.736.6

36.836.936.836.636.736.8

36.937.037.036.636.436.8

36.436.236.236.036.236.6

36.837.036.936.936.937.0

Averagehourly

earnings

Gross

$0. 582

.602

.640

.723

.803

.861

.9041.0151.1711.2781.325

1.3781.481.541.611.66

1.711.801.881.94

1.861.861.871.871.881.89

1.891.881.901.901.911.92

1.921.921.931.941.941.94

1.941.931.951.951.961.97

Ex-clud-ing

over-time

0)

0)$0. 625

.698

.763

.814

2.858.981

1.1331.2411.292

.337

.43

.49

.56

.61

.66

.75

.83

.89

.81

.81

.81

.82

.83

.83

.83

.82

.83

.84

.86

.86

.88

.87

.88

.89

.89

.89

.89

.88

.89

.89

.900)

1 Not available.2 Eleven-month average; August 1945 excluded because of VJ Day holiday period.3 Preliminary.NOTE.—Data relate to production workers and are for payroll periods ending nearest the 15th of the

month.The annual figures for 1958 are simple arithmetic averages of the monthly figures shown and are not

strictly comparable with the averages for earlier years, which have been weighted by data on employment(in the case of hours) and man-hours (in the case of earnings).


169


TABLE D-27.—Average weekly earnings, gross and net spendable, in manufacturing industries,in current and 7958 prices, 1939-58

Period

1939-.

19401941194219431944

19451946194719481949 .

19501951. _ -195219531954

1955..- .195619571958 3

1957: JanuaryFebruaryMarch.. ... _ _ _ _ _AprilMayJune

JulyAugustSeptember.OctoberNovember .__December .

1958: January .FebruaryMarchApril. .M a y _ _ _June. .

JulyAugustSeptemberOctoberNovember 3

December 3

Average gross weeklyearnings

Currentprices

$23. 86

25.2029.5836.6543.1446.08

44.3943.8249.9754.1454.92

59.3364.7167.9771.6971.86

76.5279.9982 3983.50

82.4182.4182.2181.9981.7882.80

82.3982.8082.9982.5682.9282.74

81.6680.6481.4580.8182.0483.10

83.5084.3585.3985. 1786.5888.04

1958prices 1

$49.60

51.9658.0064.8771.9075.67

71.2564.8264.5664.9966.57

71.2271.9073.8877 3477.27

82.4684.9284.5983.50

86.0285.6785.2884.7984.4085.01

84.1684.4084.6084.1684.1884.00

82.4081.2181.5380.7381.8882.93

83.1784.1885. 2285.0086.24

(4)

Average net spendable weekly earnings 2

Worker with nodependents

Currentprices

$23.58

24.6928.0531.7736.0138.29

36.9737.7242.7647.4348.09

51.0954.0455.6658.5459.55

63.1565.8667.5768.46

67.5867.5867.4267.2567.0867.90

67.5767.9068.0567.7067.9967.85

66.9866.1766.8166.3067.2968.14

68.4669.1469.9769.8070.9372.10

1958prices 1

$49. 02

50.9155.0056.2360.0262.87

59.3455.8055.2556.9458.29

61.3360.0460.5063.1564.03

68.0569.9269.3768.46

70.5470.2569.9469.5469.2369.71

69.0269.2269.3769.0169.0368.88

67.5966.6466.8866.2367.1668.00

68.1969.0069.8369.6670.65

(4)

Worker with threedependents

Currentprices

$23.62

24.9529.2836.2841.3944.06

42.7443.2048.2453.1753.83

57.2161.2863.6266.5866.78

70.4573.2274.9775.88

74.9974.9974.8274.6474.4775.31

74.9775.3175.4675.1175.4075.26

74.3773.5474.2073.6774.6875.55

75.8876.5877.4377.2578.4179.60

1958prices 1

$49.11

51.4457.4164.2168.9872.35

68.6063.9162.3363.8365.25

68.6868.0969.1571.8271.81

75.9277.7376.9775.88

78.2877.9577.6177.1976. 8577.32

76.5876.7776.9276.5676.5576.41

75.0574.0674.2773.6074.5375.40

75.5876.4377.2877. 1078.10

(4)

1 Estimates in current prices divided by the consumer price index on a 1958 base (using 11-month average).- Average gross weekly earnings less social security and income taxes.3 Preliminary.4 Not available.

NOTE.—Data relate to production workers and are for payroll periods ending nearest the 15th of themonth.



170


TABLE D-28.—Labor turnover rates in manufacturing industries, 7930-58

[Rates per 100 employees]

Period

Separation rates

Total Quit i LayoffDischarge,military,and mis-

cellaneous i

Accessionrates

19301931193219331934

19351936.193719381939

19401941...194219431944...

194519461947...1948...1949

19501951195219531954

19551956195719582

1957: JanuaryFebruaryMarchAprilMayJune

JulyAugustSeptember...OctoberNovember. _ .December


JulyAugustSeptember...OctoberNovembers..

5.04.04.43.84.1

3.63.44.44.13.1

3.43.96.57.36.8

6.14.84.64.3

3.54.44.14.33.5

3.33.53.63.6

3.33.03.33.33.43.0

3.14.04.44.04.03.8

5.03.94.24.13.62.9

3.23.53.53.22.7

.91.11.3.6

.92.03.85.25.1

5.14.33.42.81.5

1.92.42.32.31.1

1.61.61.4

1.31.21.31.31.41.3

1.41.92.21.3

1.21.51.1

3.02.93.52.73.0

2.52.13.03.42.2

2.21.31.1.6.6

2.31.21.01.32.4

1.11.21.11.31.9

1.21.51.72.4

1.51.41.41.51.51.1

1.31.61.82.32.72.7

3.82.93.23.02.41.8

2.01.91.61.71.6

.2

.2

.2

.2

.2

.2

.2

.1

.1

.3

.71.71.51.1

.9

.6

.5

.5

.3

3.13.13.35.44.7

4.24.43.63.84.1

4.45.47.67.56.1

6.36.75.14.43.5

4.44.44.43.93.0

3.73.42.93.1

3.22.82.82.83.03.9

3.23.23.32.92.21.7

2.52.22.42.53.03.8

3.33.94.03.42.7

1 Prior to 1940, military and miscellaneous separations are included with quits.2 January-November average.3 Preliminary.NOTE.—Detail will not necessarily add to total because of rounding.


171


PRODUCTION AND BUSINESS ACTIVITY

TABLE D-29.—Industrial production indexes, 1929-58

[1947-49=100]

Period

192919301931193219331934193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958 i

1957: JanuaryFebruary ..MarchAprilMay „ .June

JulyAugustSeptemberOctoberNovemberDecember

1958' JanuaryFebruary ..MarchAprilMayJune. ... _ .

JulyAugustSeptemberOctoberNovemberDecember '

Industrial production

Total

59494031374047566148586787

10612712510790

10010497

112120124134125139143143134

Manufactures

Total

58483930363946556046576688

11013313011090

10010397

113121125136127140144145136

Durable

Total

60453119243038495535496391

12616215912386

10110495

116128136153137155159160142

Pri-marymet-als

10310790

115126116132108140138131104

Fabri-catedmetalprod-ucts

10310493

115122121136123134135139128

Non-elec-tricalma-chin-ery

10410690

105126136143125135153150128

Elec-tricalma-chin-ery

10110198

131138167194177194207204179

Trans-porta-tion

equip-ment

96102102120135154189175203199213188

Instru-mentsand re-latedprod-ucts

10010595

114128142155140149166172164

Clay,glass,andlum-ber

prod-ucts

10010595

115121118125123138140133129

Fur-niture

andmiscel-lane-ous

man-ufac-tures

10010495

117116118131121132135132127

Seasonally adjusted

145146145144144145

145145144142139135

133130128126128132

134136137138141142

147147147145145147

147147146143141137

135131129128130134

136138139140144144

163164163160160163

162163160156154146

142137135131134139

141144145146152152

143143137134132132

134136131128121107

10095918691

103

102109113122123123

137138138138138139

141140139137141135

129124122118120125

129132135133136137

154155155152152153

152151150148143137

130127126122122125

125126129130133133

206206204196199207

215215209197203194

192177170166167171

181188186180182189

218222219216216220

216216212208203194

191185183178182185

185186178183205203

173174173172173173

173174173170170168

166163160159158160

162162166169172175

133134134134136140

133136134131128124

125120120120124129

134135136133138137

131129132132132133

133135135132129125

123120121121122126

129130132134134132


172


TABLE D-29.—Industrial production indexes, 1929-58—Continued

[1947-49=100]

Period

1929

19301931193219331934

19351936193719381939

1940194119421943 _.1944

19451946194719481949

19501951 _. ...195219531954

1955195619571958 '

1957: JanuaryFebruaryMarchAprilMay.Tune

July.August -_.-SeptemberOctober .NovemberDecember

1958: January ...FebruaryMarchApril._May _ .June

JulyAugustSeptemberOctoberNovember _.December '

._Industrial production j

Manufactures

Nondurable

Total

56

5148424849

5561645766

69849310399

96959910299

111114114118116

126129130130

Tex-tilesandap-parel

9910397

110106105107100

109108105104

Rub-berand

leatherprod-ucts

10610193

110105107113104

122117118113

Paperandprint-ing

96103101

114118118125125

137145148148

Chem-icalandpetro-leumprod-ucts

97103100

118132133142142

159167172170

Foods,bever-ages,and to-bacco

101100100

103105106107106

109112112115

Min-erals

68

5951424851

5563716268

7681848793

929110010694

105115114116111

122129128117

Output of consumer durables

Total

98102101

133114105127116

147131130113

Autos

8593122

159127103146131

190138146101

Majorhouse-holdgoods

9910596

143118115132122

144144132(2)

Othercon-sumerdura-bles

10910586

95969510295

106111111110

Seasonally adjusted

130131131130131131

131132131130128127

127125124125126129

132133133134135136

105105106106106106

10710610610410197

9797959899102

107108109110112112

118121124118118119

119122120117116108

108105106102104111

114116119119125125

148147147146148148

146149149149149146

146144142143143146

148150150153152153

173172171171173172

174175174173171169

168164163164165168

171174174175176178

111113114111112113

113112113111110113

114114113113114116

116116116116116116

131132132131130127

128129129127123123

121118112109109112

116120123122123123

132135132123126134

1 132135134129128119

11311010497105111

114115103108134137

154156149136144157

147154150143142127

11710792819699

99955667

.139143

130135132123127134

138139137134134124

118117114107113123

133137138141150(2)

113114114110109110

111112114112110107

105107108106105111

111112113114114116

1 Preliminary. 2 Xot available.NOTE.—Detail not available prior to 1947.Source: Board of Governors of the Federal Reserve System.

173


TABLE D—30.—Business expenditures for new plant and equipment, 1939 and 1945-59


Period

1939

19451946194719481949

1950 .1951195219531954

19551956 3 -1957 31958 3 4

1956' First quarterSecond quarterThird quarterFourth quarter.. .

1957- First quarterSecond quarterThird quarterFourth quarter

1958' First quarter .- ..Second quarterThird quarterFourth quarter 4

1959: First quarter *

Total i

5.51

8.6914.8520.6122.0619.28

20.6025.6426.4928.3226.83

28.7035.0836.9630.53

Manufactur

Total

1.94

3.986.798.709.137.15

7.4910.8511.6311.9111.04

11.4414.9515.9611.50

Dura-ble

goods

0.76

1.593.113.413.482.59

3.145.175.615.655.09

5.447.628.025.54

ing

Non-durablegoods

1.19

2.393.685.305.654.56

4.365.686.026.265.95

6.007.337.945.96

Mining

0.33

.38

.43

.69

.88

.79

.71

.93

.98

.99

.98

.961.241.24.92

Transportation

Rail-road

0.28

:55.58.89

1.321.35

1.111.471.401.31.85

.921.231.40.76

Other

0.36

.57

.921.301.28.89

1.211.491.501.561.51

1.601.711.771.50

Publicutili-ties

0.52

.50

.791.542.543.12

3.313.663.894.554.22

4.314.906.206.10

Com-mer-cialand

other 2

2.08

2.705.337.496.905.98

6.787.247.098.008.23

9.4711.0510.409.74


32.8234.4935.8736.46

36.8937.0337.7536.23

32.4130.3229.6129.93

30. 51

13.4514.6515.7815.81

16.1216.2516.3715.27

13.2011.5310.8610.79

11.06

6.577.388.208.21

8.098.318.237.57

6.585.575.165.11

5.35

6.887.277.587.60

8.037.94-8.147.70

6.625.965.705.68

5.71

1.131.281.261.28

1.351.281.241.15

1.00.92.88.91

.84

1.251.221.201.23

1.421.351.541.26

1.02.77.63.59

.54

1.651.631.791.76

1.521.821.811.91

1.691.401.291.64

1.72

4.564.615.085.27

5.725.936.646.43

5.875.976.106.32

6.41

10.7811.1010. 7611.11

10.7610.4010.1510.21

9.639.739.859.68

9.94

1 Excludes agriculture.2 Commercial and other includes trade, service, finance, communications, and construction.3 Annual total is the sum of unadjusted quarterly expenditures; it does not necessarily coincide with the

average of seasonally adjusted figures. See footnote 4.4 Estimates for fourth quarter 1958 and first quarter 1959 based on anticipated capital expenditures re-

ported by business between late October and early December 1958. The quarterly anticipations includeadjustments, when necessary, for systematic tendencies in anticipatory data.

NOTE.—These figures do not agree precisely with the plant and equipment expenditures included in thegross national product estimates of the Department of Commerce. The main difference lies in the inclusionin the gross national product of investment by farmers, professionals, and institutions, and of certain out-lays charged to current account.

This series is not available for years prior to 1939 and for 1940 to 1944.Detail will not necessarily add to totals because of rounding.

Sources: Securities and Exchange Commission and Department of Commerce.

174


TABLE D-31.—New construction activity, 1929-58

[Value put in place, millions of dollars]

Period

1929 .

1930193119321933_ .1934

193519361937 _. _19381939

19401941 _194219431944 ..

19451946 --- -194719481949

195019511952 _ - - _ _ _19531954

1955195619571958 4

1957- JanuaryFebruaryMarchAprilMayJune.

JulvAugustSeptember.. _OctoberNovember. _ _December

1958: January ..FebruaryMarch.April _MayJune

JulyAugustSeptember _ _OctoberXovember_ _December 4 _

Totalnewcon-

struc-tion

10. 793

8,7416, 4273,5382,8793,720

4,2326,4976, 9996, 9808,198

8,68211,95714, 0758, 3015,259

5,80912, 73717, 91523, 22224, 163

29, 95532, 73934, 75037,11839, 601

44, 58146,29248, 11548, 980

Private construction

Total i

8,307

5,8833,7681,6761,2311,509

1,9992,9813,9033,5604,389

5,0546,2063,4151,9792,186

3,41110, 37514, 48118, 39517, 759

22, 95423, 32023, 84925, 72427, 679

32, 62033, 28733, 98833, 947

Resi-dential

building(non-farm)

3, 625

2,0751,565

630470625

1,0101,5651,8751,9902,680

2,9853,5101,715

885815

1,2764,7527,535

10, 1229,642

14, 10012, 52912, 84213, 77715, 379

18, 70517, 67717, 01917, 884

Nonresid

Total

4,682

3,8082,2031,046

761884

9891,4162,0281,5701,709

2,0692.6961I7001,0941,371

2,1355,6236, 9468,2738,117

8,85410, 79111, 00711, 94712, 300

13, 91515, 61016, 96916, 063

ential building and other construction

Com-mercial 2

1,135

893454223130173

211290387285292

3484091553356

2031,132

8561,2531,027

1,2881,3711,1371,7912,212

3,2183,6313, 5643,561

Indus-trial

949

5322?174

176191

158266492232254

442801346156208

6421,6891,7021,397

972

1,0622,1172,3202,2292,030

2,3993,0843,5572,443

Publicutility

1.578

1,527946467261326

363518705605683

771872786570725

8271,3742,3383,0433,323

3,3303,7294,0034,4164,284

4,5435,1135,6245, 554

Otber 3

1,020

856582282194194

257342444448480

508614413335382

4631,4282,0502,5802,795

3,1743,5743, 5473,5113,774

3,7553, 7824,2244,505

Publiccon-

struc-tion

2,486

2,8582,6591,8621,6482,211

2.2333, 5163,0963,4203,809

3, 6285, 751

10, 6606,3223,073

2,3982, 3623,4344,8276, 404

7,0019,419

10, 90111,39411, 922

11,96113,00514, 12715, 033


48, 20447, 43647, 83247, 70047, 68847, 688

46, 86048, 04848, 57649, 58449, 22450, 100

48, 81648, 04847, 59246, 57246, 54847, 148

47, 77248, 49249, 42851, 34852, 53653, 676

33,36033, 44433, 72033, 58833, 74433, 732

33, 58834, 09234, 28434, 77634. 82434, 584

33,96033, 55233, 08432, 38832, 35232, 700

33,12033, 58834, 16435, 32836, 18036, 588

17, 28017, 08817, 08816, 65616, 32016, 476

16, 59616, 94417,18417, 53217, 66417, 532

17, 34017, 22016, 76416, 21216, 17616, 632

17, 20817,95218, 48019, 47620,18420, 580

16, 08016, 35616, 63216, 93217,42417, 256

16,99217, 14817, 10017, 24417, 16017, 052

16,62016, 33216, 32016, 17616, 17616, 068

15,91215, 63615, 68415,85215, 99616, 008

3,5043, 3963, 4923, 5283, 6363, 624

3,5043,5523, 5763. 6723, 6603, 648

3, 4563, 3723, 4563, 5283, 6243,732

3, 6963,5283, 4923. 5523, 6243, 660

3,4563, 5883, 6723,7443, 7803, 732

3, 6003, 6123, 4803, 3963, 3723,264

3, 2283, 0242, 8802, 6642,5202, 340

2,2442,1482,0642, 0642, 1002,076

5,1125,2805, 3165, 4365,7725, 640

5, 7725, 6885,7485,8805,8205, 796

5, 6285, 5925, 6525, 6165, 5925, 508

5, 4365,4365,5205, 5685,5685, 604

4,0084,0924,1524,2244, 2364,260

4, 1164,2964,2964,2964, 3084,344

4,3084, 3444,3324, 3684, 4404,488

4, 5364,5244,6084, 6684, 7044, 668

14, 84413, 99214,11214,11213, 94413, 956

13, 27213, 95614, 29214, 80814, 40015, 516

14, 85614, 49614, 50814, 18414, 19614, 448

14, 65214, 90415, 26416, 02016,35617,088

1 Excludes construction expenditures for crude petroleum and natural gas drilling, and therefore does notagree with the new construction expenditures included in the gross national product. (Table D-l).

2 Office buildings, warehouses, stores, restaurants, and garages.3 Includes farm, institutional, and all other.4 Preliminary.

Sources: Department of Commerce and Department of Labor.

175


TABLE D-32.—New public construction activity, 1929-58

[Value put in place, millions of dollars]

Period

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719583

Total new public construction *

Allpublicsources

2,486

2,8582,6591,8621,6482,211

2,2333,5163,0963,4203,809

3,6285,751

10, 6606,3223,073

2,3982.3623,4344,8276,404

7,0019,419

10, 90111, 39411, 922

11, 96113, 00514, 12715, 033

Fed

Direct

155

209271333516626

814797776717759

1,1823,7519,3135,6092,505

1,737870840

1,1771,488

1,6252,9824,1864,1513,445

2,8002,7723,0183,152

eral

Federalaid

80

104235111286721

5671,5661,1171,3201,377

946697475268126

99244409417461

465479619700709

758878

1,3632,168

Stateandlocal

2,251

2,5452,1531,418

846864

8521,1531,2031,3831,673

1,5001,303

872445442

5621,2482,1853,2334,455

4,9115,9586,0966,5437,768

8,4039,3559,7469,713

Major types of new public construction

High-way

1,266

1,5161,355

958847

1,000

8451,3621,2261,4211,381

1,3021,066

734446362

398895

1,4511,7742,131

2,2722,5182,8203,1603,870

4,0504,6554,9715,350

Educa-tional

389

36428513052

148

153366253311468

1561581286341

59101287618934

1,1331,5131,6191,7142,134

2,4422, 5562, 8252,877

Hos-pitaland

institu-tional

101

118110834951

38747397

127

5442354458

858585

223477

496528473365360

322298350401

Sewerand

waterand

miscel-laneouspublicservice

404

500479291160228

246509445492507

469393254156125

152278492699803

819959958

1,0501,171

1,3181,6591,7371,838

Con-serva-tionandde-

velop-ment

115

137156150359518

700658605551570

528500357285163

130260424670852

942912900892773

701826971

1,004

Mili-tary

facili-ties

19

2940343647

37293762

125

3851,6205,0162,550

837

690188204158137

177887

1,3881,3071,030

1,3131, 3951,3221,235

Allother

public 2

192

194234216145219

214518457486631

7341,9724,1362,7781,487

884555491685

1,070

1,1622,1022,7432,9062,584

1,8151,6161,9512,328

1 For expenditures classified by ownership, combine ''Federal aid" and "State and local" columns toobtain State and local ownership. "Direct" column stands as it is for Federal ownership.

2 Includes nonresidential building other than educational and hospital and institutional (industrial,commercial, public administration, social and recreational, and miscellaneous), public residential buildings,and publicly owned parks and playgrounds, memorials, etc.

3 Preliminary.

Sources: Department of Commerce and Department of Labor.

176


TABLE D-33.—Housing starts and applications for financing, 1929-58

[Thousands of units]

Period

19293 . ...

19301931193219331934. - .. _ _

19351936193719381939 . . -

19401941 . _. _ _194219431944

19451946194719481949

195019511952195319541955195619571958 7

1957' JanuaryFebruaryMarch.AprilMay.TuneJulyAugustSeptember _. .OctoberNovemberDecember

1958: January-- _. . -FebruaryMarchAprilMayJuneJulyAugust. .SeptemberOctoberNovemberDecember < _

New nonfarm housing starts

Total

509.0

330.0254.0134 093.0

126. 0

221. 0319.0336.0406.0515. 0

602. 6706.1356.0191.0141.8

209.3670.5849.0931.6

1. 025. 1

1, 396. 01, 091. 31, 127. 01, 103. 81,220.41, 328. 91,118.11,041.91, 197. 7

64.265.887.093.7

103. 099.997.8

100. 091.997.078.263.467.966. 181.499.1

108. 5112.9112.8124.0121.0

' 111.0" 102. 0

91.0

Pub-liclyfi-

nanced

5.314.83.66.7

56.6

73.086.654.87.33.1

1.28.03.4

18.136.3

43.871.258.535.518.719.424 249.' 167.14. 12.77.72.36.15.43.93.21.78.62.5.9

5.05.14.14.97.2

11.64.29.4

10.1• 2 . 0' 2 .0

1.5

Privately financed

Total

509 0

330 0254 0134.093.0

126.0

215.7304.2332.4399.3458. 4

529.6619.5301.2183.7138.7

208.1662.5845.6913.5988.8

1, 352. 21, 020. 11,068.51, 068. 31, 201. 71, 309. 51, 093. 9

992.81,130.6

60.163.179.391.496.994.593.996.890.288.475.762.562.961.077.394.2

! 101.3101. 3108.6114.6110.9

7 109. 07 100. 0

89.5

Government programs

Total i

14.049.460.0

118.7158.1

180.1220.4165.7146.293.3

(5)(5)(5)(5)(5)

686.7412.2421.2408.5583.3669.6460.0296.7397.6

19.719.222.725.627.028.328.029.328.228.421.418.917.414.119.627.432.036. 540.343.646.349.436.834.2

FHAi

14.049.460.0

118.7158.1

180.1220.4165.7146.293 3

41.269.0

229.0294.1363.8

486.7263.5279.9252. 0276. 3276. 7189.3168.4295.4

7.79.3

11.312.114.915.315.717.716.418.715.014.213.311.316.522.726.028.029.730.531.934.725.825.0

VA

(5)(5)(5)(5)(5)

6 200. 0148.6141.3156.5307.0392.9270.7128.3102.212.09.9

11.413.512.013.012.311.611.89.76.44.64. 12.83. 14.86.08.5

10.613.114.314.711.09.2

Private,season-ally ad-justedannualrates

962935933962994995

1,0151,0561,0121,0201,0091,0001,020

915918983

1,0391,0571,1741,2281,255

7 1,260' 1,330

1,430

Proposed homeconstruction 2

FHAapplica-

tions

*20.647.849 8

131.1179.8

231.2288. 5238. 5144 462.9

56.6121.7286.4293.2327.0

397.7192.8267.9253.7338.6306.2197.7198.8341.710.512.116.216.816.916.618.422.320.420.214.713.617.320.625.031.634.633.431.833.636.831.822.323.0

VA ap-praisal

requests

(5)(5)(5)(5)(5)

(5)164.4226.3251.4535.4620.8401. 5159.4234.218.920.219.519.416.613.714.014.58.96.43.73.55.25.38.4

24. g29.528.428. t28.,26.'19.1is.:14. i

1 Excludes armed forces housing in 1956 (2,567 units); 1957 (18,573 units); and 1958 (23,744 units).2 Units in mortgage applications for new home construction.3 The number of starts for the years 1920-28, respectively, was as follows: 247,000; 449,000; 716,000; 871,000;

893,000; 937,000; 849,000; 810,000; and 753,000.4 FHA program approved in June 1934; all 1934 activity included in 1935.5 Not available.6 Partly estimated.7 Preliminary.

Sources: Department of Labor, Federal Housing Administration (FHA), and Veterans Administra-tion (VA).


TABLE D-34.—Sales and inventories in manufacturing and trade., 1939-58

[Amounts in billions of dollars]

Period

1939

19401941194219431944

1945194619471948 - -1949

19501951195219531954

1955195619571958 5 6

1957: JanuaryFebruary, _ _MarchAprilMayJune .

JulyAugustSeptember..OctoberNovember..December. _.

1958: JanuaryFebruary. _ .MarchAprilMayJune

JulyAugustSeptember. .OctoberNovember 6

December 6.

Total manufactur-ing and trade 1

Sales2

10.8

12.115.818.621.923.8

23.927.233.236.134.5

39.744.745.948.447.4

52.354.856.353.8

Inven-tories 3

20.1

22.228.831.131.331.1

30.942.950.555.451.8

62.873.875.478.675.5

81.789.190.785.1

Ratio*

1.77

1.721.58.66.40.33

.30

.33

.43

.48

.56

.39

.58

.61

.61

.62

.49

.561.611.61

M anuf actur ing

Sales 2

5.1

5.98.2

10.412.813.8

12.912.615.917.616.4

19.322.322.824.523.5

26.327.728.426.2

Inven-tories 3

11.5

12.817.019.320.119.5

18.424.528.931.728.9

34.342.843.845.443.0

46.452.353.549.3

Ratio*

2.11

2.061.781.771.511.45

1.481.661.711.721.86

1.571.771.901.841.86

1.681.791.891.93

Wholesale trade J

Sales 2

2.2

2.43.03.43.84.2

4.56.07.37.57.2

8.49.49.69.89.7

10.611.311.311.0

Inven-tories 3

3.1

3.24.03.83.73.9

4.66.67.67.97.6

9.19.7

10.010.510.4

11.413.012.712.1

Ratio*

1.34

1.301.201.19.97.94

.91

.901.011.011.07

.961.051.011.061.07

1.021.081.131.11

Retail trade '

Sales2

3.5

3.94.64.85.35.9

6.58.5

10.010.910.9

12.013.013.514.114.1

15.315.816.716.6

Inven-tories 3

5.5

6.17.88.07.67.6

7.911.914.115.815.3

19.321.221.622.722.1

23.923.924.523.7

Ratio4

1.53

1.491.481.761.431.31

1.211.131.271.401.43

1.401.651.551.591.59

1.501.501.441.46

Seasonally adjusted

57.957.456.256.456.856.4

57.457.056.355.754.754.5

53.852.151.352.152.453.2

54.054.454.855.656.2

89.389.689.990.190.690.7

91.091.391.391.191.090.7

90.089.388.587.686.986.4

85.985.485.084.985.1

1.541.561.601.591.591.61

1.581.601.621.641.661.67

1.681.721.731.691.661.63

1.601.581.561.531.51

1 '

30.029.528.428.728.628.1

29.028.628.228.127.226.7

26.425.524.924.925.225.7

26.326.426.827.227.6

52.452.953.353.753.953.9

54.154.254.254.153.953.5

52.952.452.051.550.950.2

49.849.449.349.349.3

1.751.781.871.871.881.91

1.861.891.921.931.982.01

2.022.062.092.072.031.96

1.901.881.841.821.79

11.611.511.411.311.511.4

11.411.411.211.010.910.9

10.710.510.310.710.710.9

11.011.111.411.511.6

12.912.812.812.812.712.7

12.712.812.812.812.812.7

12.612.512.412.212.112.1

12.112.112.112.112.1

1.111.111.121.131.111.11

1.121.121. 151.171.171.17

1.181.201.211.151.141.11

1.101.091.061.051.04

16.316.416.316.416.616.8

17.017.016.916.716.616.8

16.716.116.116.516.616.6

16.716.916.616.917.017.5

24.023.923.723.723.924.1

24.124.324.424.224.324.5

24.524.324.123.923.924.1

24.023.923.723.523.7

1.471.461.461.441.431.43

1.421.421.441.451.471.45

1.461.511.511.461.441.45

1.441.421.441.391.39

1 The series beginning in 1948 are not comparable with the previous years because of changes in definitionfor the wholesale series. Beginning in 1951, the estimates of retail sales and inventories are based on anew method cf estimation adopted by the Bureau of the Census.

2 Monthly average shown for year and total for month.3 Seasonally adjusted, end ofnd of period.

4 Inventory/sales ratio. For annual periods, ratio of weighted average inventories to average monthlysales; for monthly data, ratio of aveiage end of current and previous months' inventories to sales for month.

5 Where December data not available, data for year calculated on basis of no change from November.6 Preliminary.

NOTE.—For a description of the series and their comparability, see Survey of Current Business, Septemberand November 1952, January 1954, and June 1957 for retail, and August 1957 for manufacturing andwholesale.

The inventory figures in this table do not agree with the estimates of change in business inventoriesincluded in the gross national product since these figures cover only manufacturing and trade ratherthan all business, and show inventories in terms of current book value without adjustment for revaluation.


178


TABLE D-35.—Manufacturers' sales, inventories, and orders, 1939-58


Period

1939

19401941194219431944

19451946194719481949

19501951195219531954

1955195619571958 ^ s

1957:JanuaryFebruary. _.MarchAprilMayJune

JulvAugustSeptember. _OctoberNovember, _December- _

1958:JanuaryFebruaryMarch _AprilMayJune

JulyAugustSeptember..OctoberNovember 5_

Sales i

Dura-ble

goodsindus-tries

1.9

2.53.85.26.97.3

6.35.06.77.67. 1

8.810.410.912.411.2

13.113.814.212.4

Non-durablegoodsindus-tries

3.2

3.44.45.36.06.4

6.67.69.2

10.09.3

10.511.911.912.112.3

13.313.914.213.8

14.914.814.214.314.314.2

14.614.314. 113.913.513.1

12.612.011.711.511.612.1

12.312.412.712.913.4

15.014.714.214.414.313.9

14.514.314.114.113.713.6

13.713.513.313.413.613.7

14.014.014.114.214.2

Inventories 2

Durable-goodsindustries

Pur-chasedmate-rials

1.8

2.13.13.73.93.3

3.24.55.15.64.6

6.17.47.37.46.5

7.48.78.37.7

8.68.78.78.68.58.4

8.48.48.58.68.68.3

8.38.38.18.07.87.6

7.57.47.57.77.7

Gbodsin

process

1.5

2.03.24.65.25.0

3.54.65.25.44.7

6.08.6

10.210.79.8

11.112.812.711.3

S

12.812.913.013.413.413.3

13.513.613.413.213.112.7

12.412.111.911.811.611.4

11.311.311.311.311.3

Fin-ishedgoods

2.1

2.22.32.22.12.1

2.12.94.04.74.7

4.76.86.98.17.7

8.29.2

10.18.9

Nondurable-goodsindustries

.Pur-chasedmate-rials

2.4

2.64.04.34.54.7

4.96.57.27.36.5

8.49.18.68.17.9

8.18.58.88.6

Goodsin

process

0.8

.91.21.21.41.4

1.51.82.22.22.1

2.52.72.72.72.6

2.83.03.12.9

Fin-ishedgoods

2.9

3.03.23.33.03.0

3.24.25.26.56.3

6.68.28.18.48.4

8.810.110.59.9

New orders l

Total

5.4

6.89.8

13.312.711.9

10.513.715.617.415.9

21.024.523.623.122.5

27.228.327.326.0

Dura-ble

goodsindus-tries

2.2

3.45.38.06.85.5

3.95.96.47.56.6

10.312.711.711.010.2

13.914.413.112.1

Non-durablegoodsindus-tries

3.2

3.44.55.35.96.4

6.67.89.39.99.3

10.711.811.912.112.3

13.313.914.213.9

easonally adjusted

9.29.39.49.49.69.7

9.89.89.89.99.8

10.1

9.99.99.89.79.69.5

9.59.39.29.08.9

8.68.78.78.78.99.0

9.09.08.98.98.98.8

8.88.88.88.88.88.8

8.88.78.68.78.6

3.03.03.03.02.93.0

2.93.02.93.03.03.1

3.03.02.92.92.92.9

2.93.02.92.92.9

10.210.310.410.610.510.5

10.510.510.510.410.410.5

10.510.410.410.410.210.0

9.89.79.79.89.9

28.928.628.127.928.427.1

27.327.326.626.226.025.1

24.424.124.824.525.025.8

26.426.127.027.927.9

14.214.113.913.214.113.2

13.013.212.512.212.411.4

10.710.711.510.811.412.2

12.512.212.913.513.7

14.814.514.214.714.313.8

14.314.214.014.113.713.7

13.713.413.313.713.613.5

13.913.914.214.414.2

Un-filledorders(unad-just-ed) 3

7.0

18.437.972.971.549.0

20.933.830.326.920.8

41.167.676.359.546.9

56.964.250.746.4

64.063.763.261.961.160.3

59.357.856. 053.252.050.7

49.147.847.546.546.146.4

46.746.746.246.146.4

1 Monthly average shown for year and total for month.2 Book value, seasonally adjusted, end of period.3 End of period.4 Based on data through November.5 Preliminary.

NOTE.—Seo Table D-34 for total sales and inventories of manufacturers.


179


PRICES

TABLE D-36.—Wholesale price indexes, 1929-58

[1947-49=100] i

Period

1929 -

19301931 -193219331934

1935 _ . _ _ _ . - _ - . _1936193719381939

19401941 . _ _ _ _ - _ - . _194219431944

19451946 - -1947 .19481949

19501951195219531954

19551956 -1957 - - -1958 3

1957: January .. _FebruaryMarch . __AprilMayJune

JulyAugustSeptember _.October. .. _ _ .NovemberDecember


JulyAugust _ .SeptemberOctoberNovemberDecember 3

Allcom-modi-

ties

61.9

56.147.442.142.848.7

52.052.556.151.150.1

51.156.864.267.067.6

68.878.796.4

104.499.2

103.1114.8111.6110.1110.3

110.7114.3117.6119.2

116.9117.0116.9117.2117.1117.4

118.2118.4118.0117.8118.1118.5

118.9119.0119.7119.3119.5119.2

119.2119.1119.1119.0119.2119.2

Farmprod-ucts

58.6

49.336.226.928.736.5

44.045.248.338.336.5

37.846.059.268.568.9

71.683.2

100.0107.392.8

97.5113.4107.097.095.6

89.688.490.994.9

89.388.888.890.689.590.9

92.893.091.091.591.992.6

93.796.1

100.597.798.595.6

95.093.293.192.392.190.7

Proc-essedfoods

58.5

53.344.836.536.342.6

52.150.152.445.643.3

43.650.559.161.660.4

60.877.698.2

106.195.7

99.8111.4108.8104.6105.3

101.7101.7105.6110.9

104.3103.9103.7104.3104.9106.1

107.2106.8106.5105.5106.5107.4

109.5109.9110.7111.5112.9113. 5

112.7111.3111.1110.0109.5108.8

All commodities other than farm productsand foods

Total

65.5

60.953.650.250.956.0

55.756.961.058.458.1

59.463.768.369.370.4

71.378.395.3

103.4101.3

105. 0115.9113.2114.0114.5

117.0122.2125.6126.0

125.2125.5125.4125.4125.2125.2

125.7126.0126.0125.8125.9126.1

126.1125.7125.7125.5125.3125.3

125.6126.1126.2126.4126.8127.2

Textileprod-uctsand

apparel

64.2

57.147.139.046.051.8

50.450.854.247.449.5

52.460.368.969.269.9

71.182.6

100.1104.495.5

99.2110.699.897.395.2

95.395.395.493.5

95.895.795.495.395.495.5

95.495.495.495.195.094.9

94.694.194.093.793.593.3

93.393.393.393.293.193.2

Chemi-calsand

alliedprod-ucts

(2)

(2)(2)(2)51.253.7

56.056.459.055.955.8

56.661.669.369.570.2

70.676.3

101.4103.894.8

96.3110.0104.5105. 7107.0

106.6107.2109.5110.4

108.7108.8108.8109.1109.1109.3

109.5109.8110.2110.4110.3110.6

110.8110.6110.7111.0110.8110.7

110.4110.0109.9110.2110.2110.0

Rubberand

rubberprod-ucts

83.5

73.062.053.856.865.8

66.471.784.482.786.3

80.286.5

100.6103.3102.0

98.999.499.0

102.198.9

120.5148.0134.0125. 0126.9

143.8145.8145.2145.0

145.0143.9144.3144.5144.7145.1

144.9146.9146.5146.2144.7145.7

145. 1144.6144.6144.5143.8144.2

144.7144.4145.2146.1146.6146.7

Lumberand

woodprod-ucts

31.9

29.423.820.324.228.5

27.428.733.730.831.6

35.241.845.448.051.9

52.560.393.7

107.299.2

113.9123.9120.3120.2118.0

123. 6125.4119.0117.7

121.3120.7120.1120.2119.7119.7

119.3118.6117.8117.3116.9116.3

116.3115.8115. 5115.7115.9116.4

116.8118.6120.4120.8120.0119.6


180


TABLE D-36.—Wholesale price indexes, 1929-58—Continued

[1947-49=100] i

Period

1929

1930 .. -.1931193219331934

1935 . .1936193719381939

19401941 _194219431944 .

1945 _194619471948 _ .1949

195019511952 .19531954

19551956 -195719583

1957: JanuaryFebruaryMarch. _AprilMayJune

JulyAugustSeptember ...OctoberNovember _ . _December

1958: JanuaryFebruaryMarch . .AprilMayJune

JulyAugustSeptember- .OctoberNovember-December 3__

All commodities other than farm products and foods (continued)

Hides,skins,

leather,and

leatherprod-ucts

59.3

54.446.839.744.047.1

48.751.956.950.552.0

54.858.964.063.963.4

64.274.6

101.0102.196.9

104.6120.397.298.594.2

93.899.399.4

100.6

98.498.098.498.698.999.8

100.6100.3100.0100.1100.099.5

99.599.699.599.799.9

100.3

100.3100.5100.2101.4102.3103.6

Fuel,power,

andlight-ing

mate-rials

70.2

66.557.259.556.162.0

62.264.565.764.761.8

60.764.566.468.470.3

71.176.290.9

107.1101.9

103.0106.7106.6109.5108.1

107.9111.2117.2112.7

116.3119.6119.2119.5118.5117.2

116.4116.3116.1115.8115.7116.2

116.1113.6112.4111.0110.3110.7

111.9113.7114.1113.0112.6112.9

Pulp,paper,

andalliedprod-ucts

(2)

(2)(2)(2)(2)(2)

8%(2)(2)(2)(2)(2)(2)(2)&.102.998.5

100.9119.6116.5116.1116.3

119.3127.2129.6131.0

128.6128. 5128.7128.6128.9128.9

129.5129.9130.1130.9130.9131.0

130.8130.8130.5130.5130.5130.5

131.0131.0131.7131.9131.9131.4

Metalsand

metalprod-ucts

67.0

60.354.149.950.956.2

56.257.365.663.162.6

62.864.064.964.864.8

65.973.991.3

103.9104.8

110.3122.8123.0126.9128.0

136.6148.4151.2150.4

152.2151.4151.0150.1150. 0150.6

152.4153.2152. 2150.8150.4150.5

150.0150.1149.8148.6148.6148.8

148.8150.8151.3152.2153.0153.0

Machin-ery andmotiveprod-ucts

(2)

(2)(2)(2)(2)(2)

(2)(2)(2)(2)65.3

66.268.671.271.071.0

71.680.392.5

100.9106.6

108.6119.0121.5123.0124.6

128.4137.8146.1149.8

143.9144.5144.8145.0145.1145.2

145.8146.2146.9147.7149.2149.4

149.4149.3149.2149.4149.4149.5

149.5149. 5149.4149.9151.2151.5

Furni-tureand

otherhouse-holddura-bles

69.3

68.262.855.455.560.2

59.860.667.265.665.4

66.871.276.876.478.4

78.683.095.6

101.4103.1

105.3114.1112.0114.2115.4

115.9119.1122.2123.2

121.9121.9121.9121.5121.6121.7

122. 2122.4122.3122.6122.7123.5

123.8123.6123.5123.4123.2123.0

123.2123.0123.0123.0122.7122.8

Non-metal-

licminer-

als(struc-tural)

72.6

72.467.663.466.971.6

71.671.773.471.169.5

69.771.374.174.575.9

79.184.293.9

101.7104.4

106.9113.6113.6118.2120.9

124.2129.6134.6136.0

132.0132.7133.2134.6135.0135.1

135.2135.3135.2135. 3135. 4135.7

136.4136.5135.3135.4135.4135.2

135.3135.2136.7136.7136.7136.9

Tobaccomanu-

facturesand

bottledbever-ages

86.6

87.184.681.472.876.0

75.975.876.576.476.4

77.378.179.183.083.4

85.889.797.2

100.5102.3

103.5109.4111.8115.4120.6

121.6122.3126.1128.2

124.0124.1124.1124.5124.5124.7

127.7127.7127.7127.7127.8128.0

128.1128.1128.0128.0128.0128.0

128.0128.0128.0128.8128.7128.7

Miscel-laneousprod-ucts

(2)

(2)

8(2)(2)

(2)(2)(2)

88(2)(2)(2)(2)(2)100.8103.196.1

96.6104.9108.397.8

102.5

92.091.089.694.2

93.292.492.091.489.487.3

88.890.189.487.786.887.2

88.389.394.397.896.293.7

97.295.692.591.293.2

100.9

1 This does not replace the former index (1926=100) as the official index prior to January 1952. Thesedata from January 1947 through December 1951 represent the revised sample and the 1947-49 weightingpattern. Prior to January 1947 they are based on the month-to-month movement of the former index.

2 Not available.3 Preliminary.


181489916 O—59 13


TABLE D—37.—Wholesale price indexes, by stage of processing, 1947—58

[1947-49=100]

Period

194719481949

19501951195219531954

1955195619571958 *

1957:JanuaryFebruary . _ _MarchAprilMayJune _ _ __

JulyAugustSeptember. .OctoberNovember..December. _

1958:JanuaryFebruary. ..MarchAprilMayJune

JulyAugustSeptember..OctoberNovember. .December 4 _

Allcom-modi-ties

96.4104.499.2

103.1114.8111.6110.1110.3

110.7114.3117.6119.2

116.9117.0116.9117.2117.1117.4

118.2118.4118.0117.8118.1118.5

118.9119.0119.7119.3119.5119.2

119.2119.1119.1119.0119.2119.2

Crude materials

Total

98.6108.093.4

101.8116.9107.499.298.3

94.595.097.299.4

97.496.796.797.196.598.8

99.799.697.095.395.396.4

97.599.5

101.5100.3101.7100.7

100.099.198.498.098.497.1

Food-stuffsandfeed-stuffs

100.7108.890.5

97.0112.3105.794.694.7

85.784.087.792.8

86.385.986.588.086.989.1

90.490.387.386.186.888.5

90.393.296.795.497.795.7

94.392.190.789.389.988.4

Non-foodma-

terials,except

fuel

96.0106.897.2

111.0128.1110.9106.2104.2

110.1114.2112.5108.4

115.8114.2113.4111.6112.0115.0

115.2115.0112.6109.9108.1107.7

107.6107.9107.1106.3106.0107.0

107.7109.3109.6111.1111.2110.1

Fuel

89.4105.6105.0

104.6106. 5107.2111.0106.0

105.8113.3119.7121.2

120.8121.7119.9120.0119.3118.1

118.0118.0118.6119.0120. 5122.4

123.0123.5123.4117.9117.9118.2

118.8120.6121.8123.1123.0123.5

Intermediate materials, supplies, and components l

Total

96.2104.099.9

104.3116.9113.5114.1114.8

117.0122.1125.1125.3

124.8125.1124.9125.0124.7124.5

125.2125.5125.4125.2125.3125. 4

125.4125.0125.0125.1124.9124.7

125.0125.3125.4125.4125. 7126.3

Materials and components formanufacturing

Total

96.4104.099.6

104.5118.4113.4115.2115.4

118.2123.7126.9127.2

126.4126.5126.3126.3126.2126.2

127.1127.4127.4127.3127. 5127.6

127.5127.3127.1126.9126.8126.9

126.7127.2127.3127.6127.8127.8

Ma-terials

forfood

manu-factur-

ing

102.8106.091.2

94.9105.7101.5101.8100.9

97.798.099.9

102.2

101.1100.499.699.098.599.2

100.199.599.699.6

100.8101.6

102.4102.5102.4103.2103.5103.4

102.6101.8101.5101.4101.2100.4

Ma-terials

fornon-du-

rablemanu-factur-

ing

99.2105.095.8

100.5116.5104.8104.0102.3

102.7104.3105. 7104.7

105.4105.5105.2105.4105.6105.9

105.8105.9106.0106.0105.8105.8

105.7105.4105.2105.0104.6104.5

104.3104.2104.1104.2104.3104.5

Ma-terials

fordu-

rablemanu-factur-

ing

91.2103.0105.8

111.9124.3124.6130.1133.1

139.7148.5153.2154.3

152.1152.6152.5152.5152.0151.6

153.8154.7154.3154.2154 2154.2

153.8153.6153.5152.9152.9152.9

152.9155.0155.4156.2156.6156.5

Com-po-

nentsfor

manu-factur-

ing

94.4101.9103.8

107.6122.2122.5124.7125.3

130.9142.9148.3149.5

147.5147.4147.6147.9148.0147.7

148.3148.8149.4148.9149.2149.3

149.3149.1148.8148.5149.0149.4

149.5149.5149.8150.2150.7150.7

Ma-terialsandcom-po-

nentsfor

con-struc-tion

93.3103.2103.5

108.9119.1118.3120.2120.9

125.6132.0132.9132.9

132.8132.8132.7132.8132.6132.6

133.3133.4133.1133.0133.0132.9

133.0132.6131.9131.8132.0132.1

132.1132.7133.7134.2134.1134.1


182


TABLE D—37.—Wholesale price indexes, by stage of processing, 1947—58—Continued

[1947-49=100]

Period

194719481949

19501951 -195219531954

19551956 .19571958*

1957: January . _ _FebruaryMarch _AprilMayJune

JulyAugust-SeptemberOctober _ _NovemberDecember -

1958: January - .FebruaryMarch -AprilMayJune

JulyAugust -SeptemberOctober _ . _ _NovemberDecember 4

Finished goods

Total

95.9103.5100.6

102.4112.1111.5110.4110.7

110.9114.0118.1120.8

116.7117.0116. 9117.4117.4117.6

118.5118. 6118.8119.0119.6119.9

120.6120.6121.4120.9121.0120.7

120.8120.6120.9120.6120.6120.5

Consumer finished goods

Total

96.8104.199.2

100.9110.3109.0107.1107.1

106.4108.0111.1113.5

109.9110.2109.9110.5110.5110.7

111.6111.6111.6111.8112.2112.5

113.3113.3114.4113.7113.9113. 6

113.7113.3113.7113.3113.0112.8

Foods

97.0105.897.2

99.2111.3110.4104.6103.8

101.1101.0104.5110.5

102.3101.8101.3102.7103.1104.2

106.2106.2106.0106.2106.8107. 2

109.2110.1113.1111. 9112.5111.6

111.5110.0110.8109.6108.5107.7

Othernon-

durablegoods

97.4103.599.2

100.8108.5105.9106.9107.2

107.8109.9112.4111.7

111.8112.9112.7112.8112.5112.0

112.2112.2112.4112.4112.3112.6

112.5111.8111.5111.1110.9111.0

111.4112.0112.2112.2112.0112.1

Du-rablegoods

94.8101.3104.0

105.0112.1113.0113.8114.7

115.9119.7123.3125.0

122.9123.0122.9122.7122.7122.7

122.9123.1123.0123.5124.7124.9

125.1124.9124.9124.8124.7124.7

124.7124.7124.6125.0126.0126.2

Pro-ducer

finishedgoods

92.8101.1106.1

108.7119.3121.3123.1124.7

128.5138.1146.71.50.3

144.3144.7145.1145.3145.5145.5

146.4147.2147.8148.4149.8150.1

150.1150.1150.0150.1150.0150.0

150.0150.0150.1150.3151. 6151.9

Special groups of industrialproducts

Crudemate-rials 2

92.9108.598.6

109.9120.8109.3108.5103.3

113.4120.0118.3113.7

123.5121.2119.7117.1117.6121.4

121.3121.2118.3114.4112.1112.5

112.2112.9112.0110.2109.7111.2

112.4114.7115.9117.8118.5116.5

Inter-mediate

materials,supplies,and com-ponents 3

95.3103.7101.0

105.7118.5114.7116.2116.7

120.1126.0129.3129.1

128.7129.0129.0129.1129.0128.9

129.5129.8129.8129.8129.8129.8

129.7129.2128.8128.6128.5128.5

128.5129.1129.4129.6129.7129.8

Con-sumer

finishedgoods ex-cluding

foods

96.6102.8100.6

102.1109.6108.0108.9109.4

110.2112.8115.7115.8

115.2115.9115.8115.8115.5115.3

115.4115. 5115.6115.7116.1116.3

116.3115.8115.6115.3115.2115.2

115.5115.8116.0116.1116.3116.5

1 Includes, in addition to subgroups shown, processed fuels and lubricants, containers, and supplies.2 Excludes crude foodstuffs and feedstuffs, plant and animal fibers, oilseeds, and leaf tobacco.3 Excludes intermediate materials for food manufacturing and manufactured animal feeds.4 Preliminary.

NOTE.—For a listing of the commodities included in each sector and their relative importance, see MonthlyLabor Review, December 1955.


183


TABLE D-38.—Consumer price indexes, 1929-58

For city wage-earner and clerical-worker families

[1947-49=100]

Period

1929

19301931193219331934

19351936 _1937 .-19381939

1940.1941194219431944

19451946194719481949. _ _ .

19501951195219531954

19551956 -19571958 2

1957' JanuaryFebruary ...MarchAprilMayJune

JulyAugustSeptember..October .NovemberDecember

1958: January _FebruaryMarchAprilMayJune

JulyAugust.. _-_ - _ _ _SeptemberOctoberNovember.

Allitems

73.3

71.465.058.455.357.2

58.759.361.460.359.4

59.962.969.774.075.2

76.983.495.5

102.8101.8

102.8111.0113.5114.4114.8

114.5116.2120.2123.4

118.2118.7118.9119.3119.6120.2

120.8121.0121.1121.1121.6121.0

122.3122.5123.3123.5123.6123.7

123.9123.7123.7123.7123.9

Food

65.6

62.451.442.841.646.4

49.7.50.152.148.447.1

47.852.261.368.367.4

68.979.095.9

104.1100.0

101.2112.6114.6112.8112.6

110.9111.7115.4120.4

112.8113.6113. 2113.8114.6116.2

117.4117.9117.0116.4116.0116.1

118.2118.7120.8121.6121.6121.6

121.7120.7120.3119.7119.4

Housing

Total

0)

0)0)0)(0(071.872.875.476.676.1

76.478.381.882.884.7

86.188.395.0

101.7103.3

106.1112.4114.6117.7119.1

120.0121.7125.6127.7

123.8124.5124.9125.2125.3125.5

125.5125.7126.3126.6126.8127.0

127.1127.3127.5127.7127.8127.8

127.7127.9127.9127.9128.0

Rent

117.4

114.2108.297.183.678.4

78.280.183.886.586.6

86.988.490.490.390.6

90.991.494.4

100.7105.0

108.8113.1117.9124.1128.5

130.3132.7135.2137.7

134.2134.2134.4134.5134.7135.0

135.2135.4135.7136.0136.3136.7

136.8137.0137.1137.3137.5137.7

137.8138.1138.2138.3138.4

Ap-parel

60.3

58.953.647.545.950.2

50.651.053.753.452.5

53.255.664.967.872.6

76.383.797.1

103.599.4

98.1106.9105.8104.8104.3

103.7105.5106.9106.9

106.4106.1106.8106.5106.5106.6

106.5106.6107.3107.7107.9107.6

106.9106.8106.8106.7106.7106.7

106.7106.6107.1107.3107.7

Trans-porta-tion

0)

0)0)0)0)0)

69.670.271.371.970.2

69.872.278.578.278.2

78.182.190.6

100.9108.5

111.3118.4126.2129.7128.0

126.4128.7136.0140.1

133.6134.4135.1135.5135.3135.3

135.8135.9135.9135.8140.0138.9

138.7138. 6138.7138.3138.7138.9

140.3141.0141.3142.7144.5

Medi-cal

care

0)

0)(')0)0)(0

71.471.672.372.572.6

72.773.175.178.781.2

83.187.794.9

100.9104.1

106.0111.1117.2121.3125.2

128.0132.6138.0144.1

135.3135.5136.4136.9137.3137.9

138.4138.6139.0139.7140.3140.8

141.7141.9142.3142.7143.7143.9

144.6145.0146.1146.7147.0

Per-sonalcare

0)

0)(00)0)(054.655.358.559.859.6

59.561.066.973.879.0

81.587.497.6

101.3101.1

101.1110.5111.8112.8113.4

115.3120.0124.4128.6

122.1122.6122.9123.3123.4124.2

124.7124.9125.1126.2126.7127.0

127.8128.0128.3128.5128.5128.6

128.9128.9128.7128.8129.1

Read-ing andrecrea-

tion

0)

0)(00)0)0)58.159.160.862.963.0

64.166.469.575.383.4

86.889.795.5

100.4104.1

103.4106.5107.0108.0107.0

106.6108.1112.2116.7

109.9110.0110.5111.8111.4111.8

112.4112.6113.3113.4114.4114.6

116.6116.6117.0117.0116.6116.7

116.6116.7116.6116.6117.0

Othergoodsand

services

0)

0)0)0)0)0)

67.267.068.869.470.6

72.874.276.380.282.4

85.788.696.1

100.5103.4

105.2109.7115.4118.2120.1

120.2122.0125.5127.2

123.8124.0124.2124.2124.3124.6

126.6126.7126.7126.8126.8126.8

127.0127.0127.2127.2127.2127.2

127.2127.1127.1127.2127.3

1 Not available.2 January-November average.Source: Department of Labor.

184


TABLE D-39.—Consumer price indexes, by selected major groups, 1935-58

For city wage-earner and clerical-worker families

[1947-49=100]

Period

1935 -1936193719381939

19401941 . _.194219431944 ._

19451946194719481949 .-

1950195119521953 ..1954

195519561957 ._19581

1957: January.FebruaryMarch__. _ _ _AprilMayJune

July ,August _ -SeptemberOctober __ _NovemberDecember

1958' JanuaryFebruaryMarchAprilMay -June

JulyAugustSeptemberOctober.. _ _ _ _November

Allitems

58.759.361.460.359.4

59.962.969.774.075.2

76.983.495.5

102.8101.8

102.8111.0113.5114.4114.8

114.5116.2120.2123.4

118.2118.7U8.9119.3119.6120.2

120.8121.0121.1121.1121.6121.6

122.3122. 5123.3123.5123.6123.7

123.9123.7123.7123.7123.9

Allitemslessfood

65.866.568.969.669.1

69.471. 476.478.581.5

83.487.095.1

101.9103.0

104.2110.8113.5115.7116.4

116.7118.8122.8125. 4

121.0121.5122.0122.3122.3122.5

122.8123.0123.4123.7124.6124.5

124.7124.8125. 0125. 0125.1125. 2

125. 4125.6125.8126.0126.5

Allitemslessshel-ter

55.556.258.056.455.4

55.859.166.671.672.9

74.882.395.6

103.1101.3

102.0110.5112.7113.1113.0

112.4114.0117.8121.2

115.9116.4116.5116.9117.1117.8

118.5118.7118.7118.6119.2119.2

120.0120.2121.0121.2121.3121.4

121.6121.4121. 5121.5121.7

Commodities

Allcom-modi-ties

52.052.754.752.751.6

52.155.763.869.470.2

72.380.196.3

103.2100.6

101.2110.3111.7111.3110.2

109.0110.1113.6116.3

111.9112.3112.4112.8113.0113.7

114.4114.6114.5114.3114.7114.7

115.4115. 5116.4116.6116.6116. 6

116.8116.4116.4116.4116.6

Food

49.750.152.148.447.1

47.852.261.368.367.4

68.979.095.9

104.1100.0

101.2112.6114.6112.8112.6

110.9111.7115.4120.4

112.8113.6113.2113.8114.6116.2

117.4117.9117.0116.4116.0116.1

118.2118.7120.8121.6121.6121.6

121.7120.7120.3119.7119.4

Commodities less food

All

57.357.960.460.459.4

59.862.769.872.776.7

79.784.795.7

102.9101.5

101.3108.9109.8110.0108.6

107.5108.9112.3113.3

111.2111.4111.9112.1111.8111.9

112.2112.1112.6112.8113.8113.6

113.5113.2113. 1112. 8112.9112.9

113.1113. 2113.5113.9114.5

Dura-bles

53.354.157.558.557.3

56.860.768.971.277.8

83.787.594.9

101.8103.3

104.4112.4113.8112.6108.3

105.1105.1108.8110.3

108.2108.3108.6108.8108.3108.4

108.2108.4108.6108.6110.9110.3

110.5110.3109.6109.6109.7109.6

109.8109.9110.3111.2112.8

Non-dura-bles

57.157.659.959.658.7

59.361.868.471.374.9

77.683.395.7

103.1101.1

100.9108.5109.1110.1110.6

110.6113.0116.1116.9

114.7115.0115.6115.8115.6115.8

116.3116.0116.7117.0117.4117.3

117.0116.7116.9116.6116. 5116.7

116.9116.9117.2117.2117.1

Services

Allserv-ices

75.676.478.780.380.4

80.681.684.285.887.9

89.090.894.5

100.4105.1

108.5114.1119.3124.2127.5

129.8132.6137.7142.3

135.0135.7136.3136.7137.2137.5

137.9138.3138.8139.2139.8140.0

140.5141.0141.7142.1142.3142.3

142.6143.0143.0143.1143.4

Rent

78.280.183.886.586.6

86.988.490.490.390.6

90.9-91.494.4

100.7105.0

108.8113.1117.9124.1128.5

130.3132.7135.2137.7

134.2134.2134.4134.5134.7135.0

135.2135.4135.7136.0136.3136.7

136.8137.0137.1137.3137.5137.7

137.8138.1138.2138.3138.4

Allserv-iceslessrent

72.672.272.973.573.5

73.674.577.881.385.2

87.090.294.7

100.1105.2

108.1114.6120.1124.6127.7

130.1133.0138.6143.7

135.6136.5137.1137.6138.1138.4

138.9139.3139.8140.3140.9141.1

141.7142.3143.1143.5143.8143.8

144.1144.4144.4144.5144.8

1 January-November average.


185


MONEY SUPPLY, CREDIT, AND FINANCE

TABLE D-40.—Deposits and currency, 1929-58


End of period

192919301931193219331934193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958 s1957: January

FebruaryMarch.AprilMayJune. . . -_ _JulyAugust.. _ _ _ -SeptemberOctoberNovemberDecember

1958: JanuaryFebruary.-MarchAprilMay. _ __-JuneJulysAugust 5 - _September «October 5

November 5

December «

Totaldeposits

andcur-

rency

54.753.648.445.442.648.152.757.656.859.964.771.179.1

100 5123.4151.4176.4167.5172.3172.7173.9180.6189.9200.4205. 7214.8221.0226.4232.3245.9222.4221.1221.5224.3224.2224.9225.2225.0225.4226.9227.0232.3227.7228.0230.9234.4234.2239.5237.2238.7238.1240.5243.4245.9

U.S.Gov-ern-

mentde-

posits i

0.2.3.5.5

1.01.81.51.21.01.81.51.12.89.2

11.021.225.63.52.33.64.13.73.95.64.85.14.44.54.74.92.53.14.34.75.85.24.24.94.53.93.84.72.94.26.46.06.1

10.04.86.25.04.26.34.9

Total excluding U. S. Governmentdeposits 2

Total

54.653.247.944.941.546.351.356.455.858.163.370.076.391.3

112.4130.2150.8164.0170.0169.1169.8176.9186. 0194.8200.9209.7216.6222.0227.7241.0219.9218.0217.2219.6218.4219.7221.0220.0220.9223.0223.3227.7224.8223.9224.5228.4228.1229.5232.4232.5233.1236.2237.0241.0

Timede-

posits 3

28.228.726.024.521.723.224.225.426.226.327.127.727.728.432.739.848.554.056.457.558.659.261.565.870.475.378.482.289.197.882.983.684.684.985.786.486.787.187.788.187.689.189.890.992.593.694.695.596.597.097.297.496.797.8

Demand deposits andcurrency

Total

26.424.621.920.419.823.127.031.029.631.836.242.348.662.979.690.4

102.3110.0113.6111.6111.2117.7124.5129.0130.5134.4138.2139.7138. 6143.1136.9134.4132.6134.7132.7133.3134.3132.9133.3134.9135.7138.6135.0133.0132.0134.8133.5134.0135.9135.5135.9138.8140.3143.1

Demanddeposits

ad-justed 4

22.821.017.415.715.018.522.125 524.026.029.834.939.048.960.866.975.983.387.185.585.892.398.2

101.5102.5106.6109.9111.4110.3114.5109.5107.0105.2107.3104.8105.6106.6105.1105. 5107.2107.2110.3107.6105.6104.6107.2105.8106.2108.1107.5108.1110.8111.6114.5

Cur-rency

outsidebanks

3.63.64.54.74.84.74.95.55.65.86.47.39.6

13.918.823.526.526.726.526.125.425.426.327.528.127.928.328.328.328.627.427.427.427.427.927.827.827.827.827.828.528.327.327.427.427.627.827.827.928.027.928.028.828.6

Demand deposits andcurrency,

seasonally adjusted

Total

134.1134.5134.7135.0134.6135.2136.0134.7133.9134.2134.0133.2132.2133.1134.0135.0135.5135.4137.6137.3136.7137.9138.5138.3

Demanddeposits

ad-justed 4

106.5106.9107.0107.3106.6107.3108.0106.8106.2106.6105.9105.1104.7105.5106.4107.2107. 6107.4109.5109.2108.9110.0110.3110.3

Cur-rency

outsidebanks

27.627.627.727.728.027.928.027.927.727.728.128.127.527.627.627.827.928.028.128.127.827.928.228.0

1 Includes U. S. Government deposits at Federal Reserve Banks and commercial and savings banks and,beginning with 1938, includes U. S. Treasurer's time deposits, open account.

2 Includes holdings of State and local governments.3 Includes deposits in commercial banks, mutual savings banks, and Postal Savings System, but ex-cludes interbank deposits.4 Includes demand deposits, other than interbank and U. S. Government, less cash items in process ofcollection.

« Preliminary; December estimates by Council of Economic Advisers.NOTE.—Monthly data are for the last Wednesday of the month, except the unadjusted data for December

1957 and June and December 1958, which are for call dates. All end-of-year figures are for call dates.Detail will not necessarily add to total because of rounding.Source: Board of Governors of the Federal Reserve System (except as noted).

186


TABLE D—41.—Loans and investments of all commercial banks, 1929—58


End of period 1

1929— June 5 - -1930— June 5 . . . .1931— June 5 - - -1932— June 5

1933— June 51934— June 5

1935 - -1936 . -19371938193919401941194219431944 . - - -1945 - - - -- --19461947 .- -1948 .194919501951 -. .-195219531954 -- --1955 _ - _195619571958 7

1957: January . _ _ _ _ .FebruaryMarchApril. _ -.- .MavJuneJulyAugust -- _ - - -SeptemberOctoberNovember. - _ -December

1958: JanuaryFebruary _ _ _ _ _March _ _ _ _ _ _ _AprilMay_.June__ _ _July 7

August 7

September 7 _October 7

November 7

December 7 _

Totalloansand

invest-ments

49.448.944.936.130.432.736.139.638.438.740.743.950.767.485.1

105.5124.0114.0116.3114. 3120.2126.7132.6141.6145.7155.9160.9165.1170. 1184.5162.8162. 5162.9165.1165.1165.6165. 4165.9166.3167.9167.3170.1167.7168.6171.4175.6175.4179.9177.6180.0179.5181.4183.6184.5

Loans

• Total2

35.734.529.221.816.315.715.216.417.216.417.218.821.719.219.121.626.131.138.142.543.052.257.764.267.670.682.690.393.997.988.989.390.691.091.293.392.392.893.493.0/92.993.992.092.193.093.592.995.693.693.894.294.996.097.9

Businessloans 3

(6)(6)(6)(8)(6)(6)(6)(6)(6)

5.76.47.39.37.97.98.09.6

14.218.218.917.121.925.927.927.226.933.238.740.540.137.637.839.039.038.940.539.639.940.339.739.640.538.838.639.238.438.138.937.938.338.738.839.240.1

Investments

Total

13.714.415.714.314.017.020.923.121.222.323.425.129.048.266.083.997.982.978.271.877.274.474.977.578.185.378.374.876.286.573.973.272.274.173.972.373.073.172.974.974.376.275.676.578.482.182.584.384.086.285.386.587.686.5

U. S. Gov-ernment

obligations *

4.95.06.06.27.5

10.313.815.314.215.116.317.821.841.459.877.690.674.869.262.667.062.061.563.363.469.061.658.658.266.157.756.855.757.557.155.556.356.255. 957.356.958.257.758.359.662.863.164.264.166.164.766.067.366.1

Othersecurities

8.79.49.78.16.56.77.17.97.07.27.17.47.26.86.16.37.38.19.09.2

10.212.413.314.114.716.316.716.317.920.416.216.316.516.716.816.816.816.917.117.617.417.917.918.218.919.319.420.119.920.220.620.520.320.4

1 End-of-year, December 1957, June and December 1958 figures are for call dates. Other data (includingthose for June 1957) are for the last Wednesday of the month.

2 Data are shown net, i. e., after deduction of valuation reserves. Includes commercial and industrial,agricultural, security, real estate, bank, consumer, and other loans.

3 Beginning with 1948, data are shown gross of valuation reserves, instead of net as for previous years.Prior to June 1947 and for months other than June and December, data are estimated on the basis of reporteddata for all insured commercial banks and for weekly reporting member banks.

4 Figures in this table are based on book values and relate only to banks within the continental UnitedStates. Therefore, they dp not agree with figures in Table D-49, which are on the basis of par values andinclude holdings of banks in United States Territories and possessions.

3 June data are used because complete end-of-year data are not available prior to 1935 for U. S. Govern-ment obligations and other securities.

6 Not available.7 Preliminary; December estimates by Council of Economic Advisers.

NOTE.—Detail will not necessarily add to totals because of rounding.Source: Board of Governors of the Federal Reserve System (except as noted).

187


TABLE D-42.—Federal Reserve Bank credit and member bank reserves, 1929—58

[Averages of daily figures, millions of dollars]

Period

1929

19301931193219331934

19351936193719381939

1940 .--194119421943 ..1944

194519461947 .19481949

19501951195219531954

1955195619571958 -

1957' JanuaryFebruaryMarchAprilMayJune


1958* JanuaryFebruary --MarchAprilMayJune

JulyAugustSeptemberOctober .NovemberDecember

Reserve Bank credit outstanding

Total

1,459

1,0871,2742,0772,4292,502

2,4752,4812,5542,6002,628

2,4872,2933,4088,182

15, 358

22, 21124,02922, 98922, 28320, 161

19, 06224, 07024, 80126, 26225, 602

25, 47225, 70225, 37325, 982

25,90524, 91224, 96825, 41125, 04125, 189

25, 46625, 16625, 48925, 32625, 37326, 186

25, 22924, 56824, 55924, 68224, 93925, 851

26, 31026, 55426, 54826, 78927,21128, 412

U.S.Govern-ment se-curities

208

564669

1,4612,0522,432

2,4312,4312,5042,5652,584

2,4172,1873,1917,724

14, 772

21, 36323,25022,33021, 51119,560

18, 41022, 75623,06624, 66124, 646

23, 89123, 70923, 34524, 654

24, 09223, 11123, 06123, 23923, 04122, 989

23, 35123, 14623, 32523, 34823, 41723, 982

23, 60823, 37823, 48623, 64923, 93924, 749

25, 21825, 41025, 05125, 29625, 65026, 312

Memberbank

borrow-ings

943

27132351823429

76

1494

355

24135

366215156140115

106289780768147

607831837294

407640834

1,011909

1,005

9171,005

988811804710

451242138130119142

109252476425486557

Allother,mainly

float

308

25228298

14341

3744362640

67101212434451

482564503632486

5461,025

955833809

9741,1621,1911,032

1,4061,1611,0731,1611,0911,195

1,1981,0151,1761,1671,1521,494

1,170948935903881960

983892

1,0211,0681,0741,536

Member bank reserves

Total

2,358

2,3792,3232,1142,3433,676

5,0015,9896,8307,935

10, 352

13, 24913, 40412,64812, 62613, 222

15, 05515,96916, 46118,00117, 774

16,40019, 29320, 35619,99619, 276

18, 84318, 96519, 02118, 647

19,29518, 81618, 88419, 08718, 82718, 982

19,12918, 83418, 95619, 04018, 95819, 420

19, 29619,00018, 73018, 39418, 22318,600

18,60918, 58018, 42518, 47618, 54018, 899

Re-quired

2,315

2,3242,2341,858

11,815i 2, 112

2,5323,4775,6105,4135,960

6,9238,0809,980

11,11612, 176

13, 93414, 99315,60817,16416, 952

15, 61718, 53619,64219, 31918,501

18, 25718, 40318,504

2 18, 056

18, 77318, 30218, 36618, 58018, 36218, 485

18, 59518,30018, 43418, 57318, 44718, 843

18, 72318, 43418, 09717, 77217, 55717, 974

17, 95317, 94617, 85417, 95518, 034

2 18, 372

Excess

43

5589

2561528

i 1, 564

2,4692,5121,2202,5224,392

6,3265,3242,6681,5101,046

1,121976853837822

783757714677775

586562517

2592

523514518506465496

534534522467512577

573567633623666626

656635571521506

2527

Memberbankfree

reserves(excess re-serves lessborrow-

ings)

-900

-216-234-262

2941,535

2,4622,5061,2062,5134,388

6,3235,3192,6631,486

911

755761697697707

677468

-66-91628

-21-269-3202298

117-126-316-505-444-508

-383-471-467-344-293-133

122324495493547484

546383959620

2-30

1 Data from March 1933 through April 1934 are for licensed banks only.2 Preliminary.


Source: Board of Governors of the Federal Reserve System.

188


TABLE D-43.—Bond yields and interest rates, 1929-58

[Percent per annum]

Period

1929 .

19301931193219331934

19351936193719381939 - - -

19401941 ..-194219431944

19451946 - - - -194719481949

1950 - - - -195119521953 - .--1954

195519561957 ..1958

1956' JanuaryFebruaryMarchAprilMayJune.. _


U. S. Governmentsecurities

3-monthTreas-

urybills i

(4)

(4)1.402.879.515.256

.137

.143

.447

.053

.023

.014

.103

.326

.373

.375

.375

.375

.5941.0401.102

1.2181.5521.7661. 931.953

1.7532.6583.2671.839

2.4562.3722.3102.6132.6502.527

2.3342.6062.8502.9613.0003.230

9-12monthissues 2

(5)

(5)(5)(5)(5)(5)

(5)(5)(5)(5)(5)

(5)(5)(5).75.79

.81

.82

.881.141.14

1.261.731.812.07.92

1.892.833.532.09

2.502.382.432.832.832.69

2.623.013.173.073.153.33

Taxablebonds 3

2.462.472.48

2.372.192.252.442.31

2.322.572.682.942.55

2.843.083.473.43

2.882.852.933.072.972.93

3.003.173.213.203.303.40

Corporatebonds

(Moody's)

Aaa

4.73

4.554.585.014.494.00

3.603.243.263.193.01

2.842.772.832.732.72

2.622.532.612.822.66

2.622.862.963.202.90

3.063.363.893.79

3.113.083.103.243.283.26

3.283.43

' 3.563.593.693.75

Baa

5.90

5.907.629.307.766.32

5.754.775.035.804.96

4.754.334.283.913.61

3.293.053.243.473.42

3.243.413.523.743.51

3.533.884.714.73

3.603.583.603.683.733.76

3.803.934.074.174.244.37

Commonstock

yields,200

stocksMoody's)

3.41

4.546.177.364.424.11

4.063.504.774.384.15

5.316.256.674.894.81

4.193.975.135.786.63

6.276.125.505.494.78

4.064.074.334.05

4.214.093.863.874.134.01

3.874.024.244.234.254.13

High-grade

munic-ipal

bonds(Stand-ard &

Poor's)

4.27

4.074.014.654.714.03

3.403.073.102.912.76

2.502.102.362.061.86

1.671.642.012.402.21

1.982.002.192.722.37

2.532 933^603.56

2.642.582.692.882.862.75

2.782.943.073.143.383.44

Averagerate onshort-termbankloans

to busi-ness-

selectedcities

(6)

(6)(6)

8(6)

(6)(•)(6)(6)2.1

2.12.02.22.62.4

2.22.12.12.52.7

2.73.13.53.73.6

3.74.24.64.3

3.93

4.14

4.35

4.38

Primecom-mer-cial

paper ,4—6

months

5.85

3.592.642.731.731.02

.75

.75

.94

.81

.59

.56

.53

.66

.69

.73

.75

.811.031.441.49

1.452.162.332.521.58

2.183.313.812.46

3.003.003.003.143.273.38

3.273.283.503.633.633.63

Fed-eralRe-

serveBankdis-

countrate

5.16

3.042.112.822.561.54

1.501.501.331.001.00

1.001.00

71.0071.0071.00

71.0071.00

1.001.341.50

1.591.751.751.991.60

1.892.773.122.16

2.502.502.502.652.752.75

2.752.813.003.003.003.00


189


TABLE D-43.—Bond yields and interest rates, 1929-58—Continued

[Percent per annum]

Period

1957: JanuaryFebruaryMarchAprilMayJune _

JulyAugustSeptemberOctober _NovemberDecember


JulyAugustSeptemberOctober - -NovemberDecember

U. S. Governmentsecurities

3-monthTreas-

urybills i

3.2103.1653.1403.1133.0423.316

3.1653.4043.5783.5913.3373.102

2.5981.5621.3541.1261.046.881

.9621.6862.4842.7932.7562.814

9-12monthissues 2

3.173.233.353.413.373.55

3.713.934.023.943.523.09

2.561.931.771.351.21.98

1.342.142.842.832.923.24

Taxablebonds 3

3.343.223.263.323.403.58

3.603.633.663.733.573.30

3.243.283.253.123.143.20

3.363.603.753.763.703.80

Corporatebonds

(Moody's)

Aaa

3.773.673.663.673.743.91

3.994.104.124.104.083.81

3.603.593.633.603.573.57

3.673.854.094.114.094.08

Baa

4.494.474.434.444.524.63

4.734.824.934.995.095.03

4.834.664.684.674.624.55

4.534.674.874.924.874.85

Commonstock

yields,200

stocks(Moody's)

4.314.444.354.164.054.05

4.014.214.504.684.584.77

4.564.624.504.354.274.15

3.973.913.723.643.543.34

High-grade

munic-ipal

bonds(Stand-ard &

Poor's)

3.403.263.323.333.523.75

3.753.913.903.793.763.47

3.323.373.453.313.253.26

3.453.743.963.943.843.84

Averagerate onshort-termbankloans

to busi-ness-

selectedcities

4.38

4.40

4.83

4.85

4.49

4.17

4.21

4.50

Primecom-mer-cial

paper,4-6

months

3.633.633.633.633.633.79

3.883.984.004.104.073.81

3.492.632.331.901.711.54

1.501.962.933.233.083.33

Fed-eralRe-

serveBankdis-

countrate

3.003.003.003.003.003.00

3.003.153.503.503.233.00

2.942.752.352.031.751.75

1.751.751.912.002.402.50

1 Rate on new issues within period. Issues were tax exempt prior to March 1, 1941, and fully taxablethereafter. For the period 1934-37, series includes issues with maturities of more than 3 months.2 Includes certificates of indebtedness and selected note and bond issues (fully taxable).

3 First issued in 1941. Series includes: October 1941-March 1952, bonds due or callable after 15 years;April 1952-March 1953, bonds due or callable after 12 years; April 1953 to date, bonds due or callable 10years and after.4 Treasury bills were first issued in December 1929 and were issued irregularly in 1930.5 Not available before August 1942.6 Not available on same basis as for 1939 and subsequent years.7 From October 30, 1942, to April 24, 1946, a preferential rate of 0.50 percent was in effect for advancessecured by Government securities maturing or callable in 1 year or less.

NOTE.—Yields and rates computed for New York City, except for short-term bank loans.Sources: Treasury Department, Board of Governors of the Federal Reserve System, Moody's Investors

Service, and Standard & Poor's Corporation.

190


TABLE D-44.—Short- and intermediate-term consumer credit outstanding, 1929—58

[Millions of dollars]

End of period

1929

19301931 . -1932 _ _19331934

19351936193719381939 .

1940194119421943 . -1944 . . _ .

19451946 . . . .194719481949

19501951195219531954

19551956 - .. ...19571958 5

1957: JanuaryFebruary _MarchAprilMayJune _ - _ .- _ _ _ _ _ _

JulyAugust _ _ _ _ _ _SeptemberOctoberNovemberDecember

1958' JanuaryFebruary. _ .MarchApril _ - -_MayJune _ _ -

JulyAugustSeptemberOctober-NovemberDecember 5 . _ _ _

Total

6,444

5,7674,7603,5673,4823,904

4,9116,1356,6896,3387,222

8,3389,1725,9834,9015,111

5,6658,384

11, 57014, 39817, 305

21, 39522,61727, 40131, 24332, 292

38, 67042, 09744, 77444,800

41, 28840, 87740, 85441, 35242,08042, 496

42, 63343, 03343, 15943, 16243, 43844, 774

43, 90443, 01742, 50042, 61742, 98543, 079

42, 92343, 12843, 14443,16443, 46444, 800

Instalment credit

Tqtal

3,151

2,6872,2071,5211,5881,871

2,6943,6234,0153,6914,503

5,5146,0853,1662,1362,176

2,4624,1726,6958,996

11,590

14, 70315, 29419, 40323, 00523, 568

28, 95831, 82734, 09533,700

31, 58131, 49431, 52731, 78232, 16532, 602

32, 96233, 28333, 39333, 48433, 56634, 095

33, 71333, 27832,94032, 88832, 91033, 008

33, 07433,16533, 07933, 05233, 12633,700

Auto-mobilepaper l

(4)

(4)(4)(4)(4)(4)

(4)(4)(4)(4)

1,497

2,0712,458

742355397

455981

1,9243,0184,555

6,0745,9727,7339,8359,809

13, 47214, 45915, 40914,100

14, 40414,41914, 50914, 66414, 84915,086

15, 27715, 43115, 48815, 50515, 45915, 409

15, 23515, 03014, 79314, 69114, 61314,590

14, 56714, 51414, 33214, 16414, 06614,100

Othercon-

sumergoods

paper l

(4)

(4)(4)(4)(4)(4)

(4)(4)(4)(4)

1,620

1,8271,9291,195

819791

8161,2902,1432,9013,706

4,7994,8806,1746,7796,751

7,6348,5108,6929,000

8,3208,1688,0498,0178,0928,164

8,1968,2218,2208,2298,2898,692

8,4958,2778,1798,1248,1588,190

8,1978,2548,3128,4118, 5289,000

Repairand

modern-zationioans 2

(4)

(4)(4)(4)(4)(4)

(4)(4)(4)(4)298

371376255130119

182405718853898

1,0161,0851,3851,6101,616

1,6891,8952,0912,100

1,8801,8751,8801,8941,9281,956

1,9812,0242,0492,0782,0952,091

2,0692,0412,0192,0172,0382,048

2,0612,0912,1072,1282,1462,100

Per-sonalloans

(4)

(4)(4)(4)(4)(4)

(4)(4)(4)(4)

1,088

1, 2451,322

974832869

1,0091,4961,9102,2242,431

2,8143,3574,1114,7815,392

6,1636,9637,9038,500

6,9777,0327,0897,2077,2967,396

7,5087,6077,6367,6727,7237,903

7,9147,9307,9498,0568,1018,180

8,2498,3068,3288,3498,3868,500

Noninstalment credit

Total

3,293

3,0802,5532,0461,8942,033

2,2172,5122,6742,6472,719

2,8243,0872,8172,7652,935

3,2034,2124,8755,4025,715

6,6927,3237,9988,2388,724

9,71210, 27010, 67911, 100

9,7079,3839,3279,5709,9159,894

9,6719,7509,7669,6789,872

10, 679

10, 1919,7399,5609,729

10, 07510, 071

9,8499,963

10, 06510, 11210, 33811,100

Chargeac-

counts

1,602

1,4761,2651,020

9901,102

1,1831,3001,3361,3621,414

1,4711,6451,4441,4401,517

1,6122,0762,3532,6732,795

3,2913,6054,0114,1244,308

4,5794,7354,8295,000

4,1713,7143,5603,7723,9433,987

3,9273,9683,9664,0444,1474,829

4,2903,7543,5793,7724,0104,012

3,9273,9564,0334,1914,2975,000

Other 3

1,691

1,6041,2881,026

904931

1,0341,2121,3381,2851,305

1,3531,4421,3731,3251,418

1,5912,1362,5222,7292,920

3,4013,7183,9874,1144,416

5,1335,5355, 8506,100

5,5365,6695,7675,7985,9725,907

5,7445,7825,8005,6345,7255,850

5,9015,9855,9815,9576,0656,059

5,9226,0076,0325,9216,0416,100

1 Includes all consumer credit extended for the purpose of purchasing automobiles and other consumergoods and secured by the items purchased.

2 Includes only such loans held by financial institutions; those held by retail outlets are included in "otherconsumer goods paper."

3 Single-payment loans and service credit.4 Not available.5 Preliminary estimates by Council of Economic Advisers.

Source: Board of Governors of the Federal Reserve System (except as noted).


TABLE D—45-—Instalment credit extended and repaid, 1946-58


Period

1946194719481949 .195019511952195319541955195619571958 i

1957; JanuaryFebruaryMarchAprilMayJune.JulyAugustSeptember. _ _OctoberNovemberDecember

1958: JanuaryFebruaryMarchAprilMayJuneJulyAugust -_ .September. _ .October . .NovemberDecember i _ _ _

1957: January. __FebruaryMarchApril.MayJuneJulyAugust.. _SeptemberOctoberNovemberDecember

1958: January-FebruaryMarchAprilMayJune.JulyAugustSeptember,...OctoberNovemberDecember L _ .

Total

Ex-tended

8,49512, 71315,58518, 10821,55823, 57629, 51431, 55831, 05139, 03940,06342, 42640,400

Re-paid

6,78510, 19013, 28415, 51418, 44522, 98525, 40527, 95630, 48833, 64937, 19440, 15840,800

Automobilepaper

Ex-tended

1,9693,6925,2176,9678, 5308,956

11, 76412, 98111, 80716, 74515, 56316, 54514, 100

Re-paid

1,4432,7494,1235,4307,0119,058

10,00310, 87911,83313, 08214, 57615, 59515,400

Other consumergoods paper

Ex-tended

3,0774,4985,3835,8657,1507,4859,1869,2279,117

10,63411, 59011, 62611,800

Re-paid

2,6033,6454,6255,0606,0577,4047,8928,6229,1459,751

10, 71411,44411, 500

Repair andmodernization

loans

Ex-tended

423704714734835841

1,2171,3441,2611,3881.5681,6621,600

Re-paid

200391579689717772917

1,1191,2551,3151,3621,4661,600

Personalloans

Ex-tended

3,0263,8194,2714,5425,0436,2947,3478,0068,866

10, 27211, 34212, 59312, 900

Re-paid

2,5393,4053,9574,3354,6605,7516,5937,3368,2559,501

10,54211,65312,300

Unadjusted

3,1052,9723,3513,5903,7603,6613,8453,6933,3863,5473,4284,0883,0882,7423,1563,3353,3713,4773, 4833,3853,2973,4753,3384,200

3,3513,0593,3183,3353,3773,2243,4853,3723,2763,4563,3463,5593,4703,1773,4943,3873,3493,3793,4173,2943,3833,5023,2643,600

1,253,207,373,457,503,482,550,454,350,393,231,292,176,014,094,211,199,257,281,193,105,173,091,300

1,3081,1921,2831,3021,3181,2451,3591,300,293,376,277,342,350,219,331,313,277,280,304,246,287,341,189,250

816758848898

1,027988

1,0081,012

928978

1,0141,351

794714901876

1,000973956976993

1,0751,0541,400

1,006910967930952916976987929969954948991932999931966941949919935976937

1,000

10410912113216014415616415215513812710795

111131144146146151158159141150

119114116118126116131121127126121131129123133133123136133121142138123150

932898

1,0091,1031,0701,0471,1311,063

9561,0211,0451,3181,011

9191,0501,1171,0281,1011,1001,0651,0411,0681,0521,350

918843952985981947

1,019964927985994

1,1381,000

9031,0311,010

9831,022,031,008,019,047,015,200

Seasonally adjusted

3,4983,5033,4283,4613, 5513,5343,6083, 5803,5423,5333,5533,6353,4813,2213,1843,2623,2433,2593,3303,4153,3243,4503,5913,600

3,2983,2593,2623,2843,3173,3453,3813,3563,3983,3693,3933,4963,4153,3893,3843,3933,3393,3933,3673,4043,3773,4193,4493,400

1,4141,3981,3661,3621,3521,3471,3711,3431,3771,4241,3841,4071,3311,1711,0671,1511,1001,1011,1591,1481,0881,2051,2821,300

1,3141,2831,2701,2911,3031,2921,3061,2811,3031,3121,2811,3591,3571,3121,2941,3281,2851,2791,2781,2771,2471,2821,2441,200

952956932932

1,006995

1,0101,018

974913958980933896978916986961961

1,013999998

1,0341,050

942934939910919953968982979958980980929960964920941962948948950964

1,0021,000

134138133133147138142150140139134134137122122132134135135142142143142150

117121115117125122129121128122118131126130130135124138132124139134124150

9981,011

9971,0341,0461,0541,0851,0691,0511,0571,0771,1141,0801,0321,0171,0631,0231,0621,0751,1121,0951,1041,1331,100

925921938966970978978972988977

1,0141,0261,003

987996

1,010989

1,0141,0091,0551,0411,0391,0791,050

1 Preliminary; December by Council of Economic Advisers.Source: Board of Governors of the Federal Reserve System (except as noted).

192


TABLE D-46.—Mortgage debt outstanding, by type of property and of financing, 1939-58


End of period

1939

19401941194219431944 _ _

19451946194719481949

19501951195219531954

1955195619571958 3

1956- First quarterSecond quarter _Third quarterFourth quarter

1957: First quarterSecond quarterThird quarter-Fourth quarter

1958- First quarter 3

Second quarter 3

Third quarter 3

Fourth quarter 3

Allprop-erties

35.5

36.537.636.735.334.7

35.541.848.956.262.7

72.882.391.4

101.3113.8

130.0144.5156.6171.2

133.5137.5141.3144.5

147.3150.4153.7156.6

159.1162.6166.7171.2

Nonfarm properties

Total

28.9

30.031.230.829.929.7

30.836.943.950.957.1

66.775.684.293.6

105.5

120.9134.6146.1160.0

124.1127.9131.5134.6

137.2140.1143.3146.1

148.5151.7155,7160.0

1- to 4-family houses

Total

16.3

17.418.418.217.817.9

18.623.028.233.337.6

45.251.758.566.175.7

88.299.0

107.6118.0

90. 793.796.699.0

101.1103.4105.7107.6

109.3111.7114.8118.0

Government under-written

Total

1.8

2.33.03.74.14.2

4.36.19.3

12.515.0

18.922.925.428.132.1

38.943.947.250.2

40.241.342.543.9

45.145.946.547.2

47.748.349.250.2

FHAin-

sured

1.8

2.33.03.74.14.2

4.13.73.85.36.9

8.69.7

10.812.012.8

14.315.516.519.7

14.715.015.215.5

15.715.916.116.5

17.117.718.619.7

VAguar-

anteed

0.22.45.57.28.1

10.313.214.616.119.3

24.628.430.730.5

25.526.327.328.4

29.430.030.430.7

30.630.630.630.5

Con-ven-

tional *

14.5

15.115.414.513.713.7

14.316.918.920.822.6

26.328.833.138.043.6

49.355.160.467.8

50.552.454.155.1

55.957.559.260.4

61.663.465.667.8

Multi-family

andcom-

mercialprop-

erties 1 2

12.5

12.612.912.512.111.8

12.213.815.717.619.5

21.623.925.727.529.8

32.735.638.542.0

33.434.234.935.6

36.236.737.538.5

39.140.040.942.0

Farmprop-erties

6.6

6.56.46.05.44.9

4.84.95.15.35.6

6.16.77.37.88.3

9.19.9

10.511.2

9.49.69.89.9

10.110.310.410.5

10. 610.911.111.2

1 Derived figures.2 Includes negligible amount of farm loans held by savings and loan associations.3 Preliminary; fourth quarter by Council of Economic Advisers.

Source: Board of Governors of the Federal Reserve System, estimated and compiled from data suppliedby various Government and private organizations (except as noted).

193


TABLE D-47 .—Net public and private debt, 1929-58 *


End ofperiod 2

1929

19301931193219331934

1935193619371938 . .1939

19401941194219431944

19451946194719481949

19501951195219531954

1955195619571958s

Total

190.9

191.0181.9174.6168.5171.4

174.7180.3182.0179.6183.2

189.9211.6259.0313.6370.8

406.3397.4417.4433.6448.4

490.3524.0555.2586.4611.8

672.2699.8725.8757.9

Fed-eralGov-ern-

ment

16.5

16.518.521.324.330.4

34.437.739.240.542.6

44.856.3

101.7154.4211.9

252.7229.7223.3216.5218.6

218.7218.5222.9228.1230.2

231.5225.4224.4232.5

Stateandlocalgov-ern-

ment 2

13.2

14.115.516.616.715.9

16.016.216.116.016.3

16.516.315.814.914.1

13.713.614.416.218.1

20.723.325.828.633.4

38.442.746.750.9

Private

Total

161.2

160.4147.9136.7127.5125.1

124.2126.4126.7123.1124.3

128.6139.0141.5144.3144.8

139.9154.1179.7200.9211.7

250.9282.2306.5329.7348.2

402.3431.7454.7474.5

Corporate

Total

88.9

89.383.580.076.975.5

74.876.175.873.373.5

75.683.491.695.594.1

85.393.5

108.9117.8118.0

142.1162.5171.0179.5182.8

212.1224.2232.8236.0

Long-term

47.3

51.150.349.247.944.6

43.642.543.544.844.4

43.743.642.741.039.8

38.341.346.152.556.5

60.166.673.378.382.9

90.097.4

106.0113.5

Short-term

41.6

38.233.230.829.130.9

31.233.532.328.429.2

31.939.849.054.554.3

47.052.262.865.361.5

81.995.997.7

101.2100.0

122.2126.7126.8122.5

Individual and noncorporate

Total

72.3

71.164.456.750.649.6

49.450.350.949.850.8

53.055.649.948.850.7

54.660.670.883.193.7

108.8119.7135.5150.2165.4

190.2207.5221.9238.5

Farm 3

12.2

11.811.110.19.18.9

9.08.68.69.08.8

9.19.28.98.27.7

7.27.68.6

10.811.9

12.213.615.116.917.6

18.819.520.322.0

Nonfarm

Total

60.1

59.453.346.641.540.7

40.441.742.340.942.0

43.946.441.040.543.0

47.453.062.272.381.8

96.6106.1120.3133.3147.8

171.4188.0201.7216.5

Mort-gage

31.2

32.030.929.026.325.5

24.724.424.324.525.0

26.027.226.826.226.1

27.032.538.745.150.6

59.467.475.283.894.7

108.8121.2131.7144.3

Com-mer-cialand

finan-cial*

22.4

21.617.614.011.711.2

10.811.211.310.19.8

9.510.08.19.5

11.8

14.812.111.912.913.9

15.816.117.818.420.8

24.024.625.227.5

Con-sumer

6.4

5.84.83.63.53.9

4.96.16.76.37.2

8.39.26.04.95.1

5.78.4

11.614.417.3

21.422.627.431.232.3

38.742.144.844.7

1 Net public and private debt outstanding is a comprehensive aggregate of the indebtedness of borrowersafter elimination of certain types of duplicating governmental and corporate debt. For a further explana-tion of the concept, se£ Survey of Current Business, October 1950.

2 Data for State and local government debt are for June 30 of each year.3 Farm mortgages and farm production loans. Farmers' financial and consumer debt is included in the

nonfarm categories.* Financial debt is debt owed to banks for purchasing or carrying securities, customers' debt to brokers,

and debt owed to life insurance companies by policyholders.« Preliminary estimates by Council of Economic Advisers.


Sources: Department of Agriculture, Department of Commerce, Treasury Department, Board of Gov-ernors of the Federal Reserve System, Federal Savings and Loan Insurance Corporation, and InterstateCommerce Commission (except as noted).

194


GOVERNMENT FINANCE

TABLE D-48.—U. S. Government debt, by kind of obligation, 1929-58


End of period

1929

19301931193219331934

19351936 ._193719381939

19401941 . -194219431944

1945194619471948 ---1949

195019511952 .1953195419551956195719581957: January _ _ _ _

FebruaryMarchAprilMayJune. _ .

JulyAugust..SeptemberOctoberNovemberDecember _

1958: JanuaryFebruary.. _ . .MarchAprilMay -_June .


Grosspublic

debt andguar-

anteedissues !

16.3

16.017.820.824.031.5

35.139.141.944.447.650.964.3

112.5170.1232.1

278.7259.5257.0252.9257.2

256.7259.5267.4275.2278.8280.8276.7275.0

7 283. 0

276.3276.4275.1274.1275.3270.6272.6274.0274.5274 2274.9275.0274.7274.8272.7275.2275.7276.4

275.6278.6276.8280.3283.2

7 283. 0

Interest -bearing public debt

Marketable publicissues

Short-term

issues 2

3.3

2.92.85.97.5

11.1

14.212.512.59.87.7

7.58.0

27.047.169.978.257.147.745.950.2

58.365.668.777.376.081.379.582.192.2

79.680.079.179.179.574.977.979.481.080.881.982.182.578.175.278.378.375.775.881.681.986.489.692.2

Treasurybonds

11.311.313.513.414.715.4

14.319.520.524.026.9

28.033.449.367.991.6

120.4119.3117.9111.4104.8

94.076.979.877.281.881.980.882.183.4

80.880.880.880.880.880.880.880.880.881.481.482.182.186.387.787.787.690.990.587.685.785.785.783.4

Nonmarketable public issues

UnitedStates

savingsbonds

0.2.5

1.01.42.2

3.26.1

15.027.440.448.249.852.155.156.7

58.057.657.957.757.757.956.352.551.2

56.055.855.655.455.254.654.354.053.853.553.252.552.352.352.352.252.152.051.951.951.851.751.751.2

Treasurytax andsavingsnotes

2.56.48.69.88.25.75.44.67.6

8.67.55.86.04.5

(5)(6)(6)(6)(6)(6)(6)(6)(6)(6)(6)(6)(6)(6)(6)(6)(6)(6)(6)(•)(6)(«)

(6)(6)(6)(«)(6)(6)

Invest-ment

bonds 3

1.01.01.01.0

13.013.412.912.712.311.610.39.0

11.611.511.411.311.211.111.010.910.710.510.310.310.210.19.89.79.79.69.59.39.29.19.19.0

Specialissues 4

0.6

.8

.4

.4

.4

.6

.7

.62.23.24.2

5.47.09.0

12.716.320.024.629.031.733.9

33.735.939.241.242.643.945.645.844.845.345.545.645.246.146.846.346.746.246.146.045.845.546.045.845.446.146.2

45.946.346.045.445.144.8

1 Total includes non-interest-bearing debt, fully guaranteed securities (except those held by the Treas-ury), Postal Savings bonds, prewar bonds, adjusted service bonds, depositary bonds, and armed forcesleave bonds, not shown separately. Not all of total shown is subject to statutory debt limitation.

2 Bills, certificates of indebtedness, and notes.3 Series A bonds and, beginning in April 1951, Series B convertible bonds.4 Issued to U. S. Government investment accounts. These accounts also held $9.7 billion of public

marketable and nonmarketable issues on December 31, 1958.5 Less than $50 million.6 The last series of treasury savings notes matured in April 1956.7 Of this amount, $282.6 billion was subject to the statutory debt limitation of $288 billion.

Source: Treasury Department.

195


TABLE D--49 .—Estimated ownership of Federal obligations, 1939-58

[Par values 1, billions of dollars]

End of period

1939194019411942194319441945194619471948194919501951195219531954195519561957195881957: January

FebruaryMarchAprilMayJune.JulyAugustSeptemberOctoberNovemberDecember

1958: JanuaryFebruaryMarchAprilMayJune _ _JulyAugustSeptemberOctoberNovember 8...December s _ _ _

Gross public debt and guaranteed issues 2

Total

47.650.964.3

112.5170.1232.1278.7259. 5257.0252.9257.2256.7259.5267.4275.2278.8280.8276.7275.0283.0276.3276.4275.1274.1275.3270.6272.6274.0274.5274.2274.9275.0274.7274.8272.7275. 2275.7276.4275.6278.6276.8280.3283.2283.0

Heldby U.S.

Gov-ern-

mentinvest-ment

ac-counts

6.57.69.5

12.216.921.727.030.934.437.339.439.242.345.948.349.651.754.055.254.553.954.154.253.754.955.655.255.855.455.455.355.255.155.455.455.255.855.955.656.055.655.154.854.5

Held by others

Total

41.143.354.7

100.2153.2210.5251.6228.6222.6215.5217.8217. 5217.2221.6226.9229.2229.1222.7219.8228.5222.4222.3221.0220.4220.5215.1217.4218.2219.1218.7219.6219.8219.6219.4217.4220.0220.0220.5220.0222.6221.2225.3228.4228.5

FederalReserveBanks

2.52.22.36.2

11.518.824.323.322.623.318.920.823.824.725.924.924.824.924.226.423.422.923.123.223.123.023.423.523.323.323.724.223.323.223.623.724.225.424.525.325.025.426.226.4

Com-mercialbanks 3

15.917.321.441.159.977.790.874.568.762.566.861.861.663.463.769.262.059.359.167.058.357.758.158.057.755.856.856.658.358.158.259.158.659.459.463.263.664.965.066.465.566.767.767.0

Mutualsavingsbanksand in-surance

com-panies

9.410.111.915.821.228.034.736.735.932.731.529.626.325.525.023.822.820.9IP. 619.520.920.820.620.520.420.220.220.120.120.019.719.619.619.519.419.319.119.119.219.419.419.419.519.5

Othercorpor-ations 4

2.22.04.0

10.116.421.422.215.314.114.816.819.720.719.921.519.223.018.216.517.319.920.617.717.618.215.416.016.515.715.916.516.517.317.215.414.614.713.313.914.614.315.916.917.3

Stateandlocal

govern-ments s

0.4.5.7

1.02.14.36.56.37.37.98.18.89.6

11.112.714.415.116.117.017.216.216.316.616.816.816.916.917.117.217.217.317.017.317.317.317.117.016.917.017.017.017.217.217.2

Individ-uals 6

10.110.613.623.737.653.364.164.265.765.566.366.364.665.164.963.665.867.366.864.967.367.668.468.267.967.867.968.468.567.867.666.867.166.866.966.466.165.765.365.064.864.964.964.9

Miscel-laneousinves-tors 7

0.7.7.9

2.34.47.09.18.18.48.99.4

10.510.611.713.213.915.616.116.516.416.416.416.416.116.416.016.215.915.916.316.516.516.215.915.415.715.415.215.014.915.315.816.016.4

1 United States savings bonds, series A-F and J, are included at current redemption value.2 Excludes guaranteed securities held by the Treasury. Not all of total shown is subject to statutory

debt limitation.3 Includes commercial banks, trust companies, and stock savings banks in the United States and in

Territories and possessions; figures exclude securities held in trust departments. Since the estimates in thistable are on the basis of par values and include holdings of banks in United States Territories and possessions,they do not agree with the estimates in Table D-41, which are based on book values and relate only to bankswithin the continental United States.

4 Exclusive of banks and insurance companies.s Includes trust, sinking, and investment funds of State and local governments and their agencies, and

of Territories and possessions.6 Includes partnerships and personal trust accounts.7 Includes savings and loan associations, nonprofit institutions, corporate pension trust funds, dealers

and brokers, and investments of foreign balances and international accounts in this country. Beginningwith December 1946, the foreign accounts include investments by the International Bank for Reconstruc-tion and Development and the International Monetary Fund in special non-interest-bearing notes issuedby the U. S. Government. Beginning with June 30, 1947, includes holdings of Federal land banks.

8 Preliminary estimates by Council of Economic Advisers.NOTE.—Detail will not necessarily add to totals because of rounding.Source: Treasury Department (except as noted).

196


TABLE D-50.—Federal budget receipts and expenditures and the public debt, 1929-60


Period

Fiscal year:1929 _

193019311932 ._19331934

193519361937 _1938 - -1939

1940194119421943 - - . -1944

1945 _ -1946 _ .194719481949

1950. . _ _-.19511952.19531954 _

1955 . .19561957 -195819593

I9603--

Calendar year:1946 _194719481949

19501951]95219531954 .

195519561957 -. - .1958

Net budgetreceipts 1

3 861

4,0583 1161 9242 0213 064

3 7304 0694 9795,6154 996

5 1447 10312 55521, 98743,635

44, 47539, 77139 78641 48837, 696

36, 49547, 56861, 39164,82564, 655

60,39068 16571,02969 11768,000

77, 100

38, 56840, 38940, 86437, 514

37, 30652 97964,84063, 84161,171

63, 35870 99472, 284

4 68, 700

Budget ex-penditures

3 127

3 3203 5774 6594 6236 694

6 5218 4937 7566 7928 858

9 06213 26234 04679 40795, 059

98 41660,44839 03233 06939 507

39, 61744 05865, 40874 27467, 772

64, 57066 54069, 43371 93680,871

77, 030

41, 08037 95535, 62341, 106

37,72856 33770,68272 99764, 854

66, 12967 21671, 692

4 75, 800

Surplus ordeficit (-)

734

738462

—2 735—2 602—3 630

2 791—4 425—2 777—1 177—3 862

—3 918—6 159—21 490— 57 420—51 423

—53 941—20 676

7548 419

— 1 811

-3, 1223 510

—4,017—9 449—3, 117

—4, 1801 6261,596

—2 819-12,871

70

-2, 5122 4345,241

—3 592

-422—3 358—5, 842—9, 157-3, 683

—2 7713 779592

4 _7; 100

Public debtat end ofyear 2

16 931

16 18516 80119 48722* 53927 053

28 70133 77936 42537 16540 440

42 96848 96172 422136 696201 003

258 682269 422258 286252 292252 770

257, 357255 222259 105266 071271 260

274 374272 751270 527276 343285,000

285,000

259, 149256 900252 800257 130

256, 708259 419267, 391275 168278, 750

280 769276 628274, 898282, 922

1 Gross receipts less refunds of receipts and transfers of tax receipts to the Federal old-age and survivorsinsurance trust fund, the Federal disability insurance trust fund, the railroad retirement account, and thehighway trust fund.

2 Excludes guaranteed obligations. The change in the public debt from year to year reflects not onlythe budget surplus or deficit but also changes in the Treasury's cash balances, the effect of certain trust fundtransactions, and direct borrowing from the public by certain Government enterprises.

3 Estimate.« Estimated by Council of Economic Advisers from data available as of January 15, 1959. May therefore

differ from figures in Treasury Department monthly statement of receipts and expenditures to be releasedabout January 20, 1959.


Sources: Treasury Department and Bureau of the Budget (except as noted).

489916 O—59197


TABLE D-51.—Federal budget receipts by source and expenditures by function, fiscal years 7946-60


Fiscalyear

1946194719481949

19501951195219531954

195519561957195819593...

19603,. .

Budget receipts by source

Total

39, 77139, 78641,48837, 696

36, 49547,56861, 39164,82564,655

60,39068, 16571, 02969, 11768,000

77, 100

Indi-vidualincometaxes

16, 15717,83519, 30515, 548

15, 74521,64327, 91330, 10829,542

28, 74732,18835, 62034, 72436,900

40,700

Corpo-rationincometaxes

11,8338,5699,678

11, 195

10, 44814, 10621,22521, 23821, 101

17, 86120,88021, 16720,07417,000

21, 448

Excisetaxes

6,9997,2077,3567,502

7,5498,6488,8519,8689,945

9,1319,9299, 0558,6128,467

8,945

Allother

re-ceipts i

4,7826,1755,1503,451

2,7523,1713,4023,6104,067

4,6505,1695,1875,7085,633

6,007

Budget expenditures by function

Total

60,44839, 03233,06939,507

39, 61744, 05865, 40874, 27467, 772

64,57066,54069,43371, 93680, 871

77,030

Majorna-

tionalsecurity

43, 20714, 37211,77112,907

13,00922.44443, 97650,36346,904

40, 62640,64143, 27044, 14246, 120

45, 805

Veter-ans'serv-icesand

bene-fits

4,4167,3816,6546,726

6,6465,3424,8634,2984,256

4,4574,7564,7935,0265,198

5,088

Agri-milcul-tureandagri-

cultu-ral re-sources

7471,243

5752,512

2,783650

1,0452,9362,557

4,3894,8684,5264,3896,775

5,996

Inter-est

4,8165,0125,2485, 445

5.8175,7145,9346,5836,470

6,4386,8467,3087,6897,601

8,096

Allother

expend-itures 2

7,26211,0228,820

11,917

11,3619,9079,590

10,0947,584

8,6619,4289,536

10, 68915, 177

12, 046

Budgetsurplusor defi-cit (-)

-20, 676754

8,419-1,811

-3, 1223,510

-4,017-9, 449-3, 117

—4,1801,6261,596

-2, 819-12,871

70

1 Includes employment taxes, estate and gift taxes, customs revenues, and miscellaneous receipts.2 Includes expenditures for international affairs and finance (including defense support under the mutual

security program), labor and welfare, natural resources, commerce and housing, and general government;also includes adjustment to daily Treasury statement (for actuals) and allowance for contingencies (forestimates).

3 Estimate.


Sources: Treasury Department and Bureau of the Budget.

198


TABLE D-52.—Government cash receipts from and payments to the public, 7946-60

LBillions of dollars]

Period

Calendar year:1946194719481949

195019511952.. . .19531954

195519561957 .1958 <

Fiscal year:19531954

19551956195719581959 8

I960 8

Total

Cashre-

ceipts

52.957.460.057.9

60.479.193.193.493.3

98.4110.2116.3115.1

93.995.6

93.5105.8113.1114.4

Cashpay-

ments

50.950.751.859.8

61.178.394.799.395.2

100.2105. 2116.3124.2

99.196.1

97.5101.7111.6117.7

Excessof re-ceiptsor ofpay-

ments(-)

2.06.78.2

-1.8

-.6.9

-1.6-5.9-2.0

-1.84.9

(3)-9.1

-5.2-.5

-4.04.11.5

-3.3

Federal 1

Cashre-

ceipts

41.444.344.941.3

42.459.371.470.168.6

71.480.384.581.7

71.571.6

67.877.182.181.981.7

93.5

Cashpay-

ments

41.438.636.942.6

42.058.073.176.369.7

72.274.883.388.8

76.871.9

70.572.680.083.494.9

92.9


merits(-)

(3)5.78.0

-1.3

.41.2

-1.6-6.1-1.1

-.75.51.2

-7.1

-5.3-.2

-2.74.52.1

-1.5-13.2

.6

State and local 2

Cashre-

ceipts

11.413.115.116.6

18.019.921.723.224.7

26.929.831.833.4

22.424.0

25.728.731.032.5

Cashpay-

ments

9.512.114.917.1

19.120.221.623.025.6

28.030.433.035.4

22.324.2

27.029.131.634.3


ments(-)

1.91.0.2

-.5

-1.1-.4

.1

.3-.9

-1.1-.6

-1.1-2.0

.1-.2

-1.3-.4-.6

-1.8

1 For derivation of Federal cash receipts and payments, see Budget of the United States Government for theFiscal Year ending June SO, 1960, and Table D-54.

2 Estimated by Council of Economic Advisers from receipts and expenditures in the national incomeaccounts. Cash receipts consist of personal tax and nontax receipts, indirect business tax and nontaxaccruals, and corporate tax accruals adjusted to a collection basis. Cash payments are total expendituresless Federal grants-in-aid and less contributions for social insurance. (Federal grants-in-aid are thereforeexcluded from State and local receipts and payments and included only in Federal payments.) SeeTable D-53.

a Less than $50 million.4 Preliminary.« Estimate.NOTE.—Detail will not necessarily add to totals because of rounding.Sources: Treasury Department, Bureau of the Budget, Department of Commerce, and Council of Eco-

nomic Advisers.

199


TABLE D-53.—Government receipts and expenditures as shown in the national income accounts,1955-58*

[Calendar years, billions of dollars]

Receipt or expenditure

Total government

Receipts - -ExpendituresExcess of receipts or of

expenditures (— )

Federal Government

ReceiptsPersonal tax and non-

tax receiptsCorporate profits tax

accruals ...Indirect business tax

and nontax accruals.Contributions for so-

cial insurance

E xpendituresPurchases of goods and

services -Transfer payments

To persons .- ---Foreign (net)

Qrants-in-aid to Stateand local govern-ments

Net interest paidSubsidies less current

surplus of Govern-ment enterprises

Excess of receipts or ofexpenditures (— )

State and local govern-ments:

Receipts ..Personal tax and non-

tax receiptsCorporate profits tax

accrualsIndirect business tax

and nontax accruals-Contributions for so-

cial insurance -Federal grants-in-aid..

ExpendituresPurchases of goods and

servicesTransfer paymentsNet interest paidLess: Current surplus

of Government en-terprises _. .- .-

Excess of receipts or ofexpenditures (— )

Year

101.598.6

2.9

72 8

31 5

20.9

11.0

9.3

68 9

45.314.012.51 5

3 04.9

1.6

3.8

31.7

4.2

1 0

21.8

1.73.0

32 7

30.33.5.5

1.6

-1.0

1955

Firsthalf 2

98 397.6

.7

70 5

31 0

19.6

10.9

9 0

68 3

44.914.112 41 7

3.04.9

1.5

2.2

30.8

4.2

9

21.2

1.63.0

32.3

29.83.6.4

1.6

-1.4

Sec-ond

half a

104.499.4

5.0

75.0

32 1

22.2

11.2

9.6

69 4

45.713.912.61 3

3 25.0

1.8

5.6

32.6

4.3

1 0

22.5

1.73.2

33 2

30.83.5.5

1.6

-.5

Year

110.3104.1

6.3

78.7

35 2

21.4

11.6

10.5

71 9

45.714.913.51 4

3.35.2

2.8

6.8

34.9

4.8

1 0

24.0

1.83.3

35 5

33.13.6.5

1.7

-.6

1956

Firsthalf 2

108.8101.8

7.0

77.7

34 8

21.4

11.2

10 2

70 2

44.614.613.21 4

3.15.1

2.7

7.5

34.2

4.8

1 0

23.6

1.83.1

34 7

32.43.6.5

1.7

-.4

Sec-ond

half 2

112.0106.4

5.6

79.8

35 6

21.4

12.0

10 8

73 6

46.815.213.81 4

3.45.4

2.8

6.2

35.6

5.0

1 0

24.4

1.83.4

36 2

33.93.6.5

1.8

-.7

Year

116.2114.5

1.7

82.5

37 4

20.7

12.2

12.2

79 6

49.417.315.91 5

4.15.6

3.1

2.9

37.8

5.4

1 0

25.4

2.04.1

39 0

36.34.0.5

1.8

-1.2

1957

Firsthalf 2

116.4113.7

2.7

83.0

37 2

21.3

12.3

12.2

78 9

49.416.915.31 6

3.85.6

3.2

4.0

37.2

5.2

1 0

25.2

1.93.8

38 6

36.03.8.5

1.8

-1.4

Sec-ond

half 3

116.0115.8

.2

82.0

37 6

20.0

12.2

12.3

80.4

49.417.816.61.3

4.45.7

3.1

1.6

38.4

5.4

1 0

25.6

2.04.4

39.8

37.04.0.6

1.8

-1.4

Year

114.5124.5

-10.0

79.0

37.1

17.7

11.9

12.3

87 0

51.621.220.01.2

5.15.7

3.4

-8.1

40.6

5.8

.9

26.7

2.15.1

42.6

39.64.3.6

1.9

-1.9

19583

Firsthalf 2

110 8121.6

-10.8

76 1

36 6

15.5

12.0

12.1

84 4

50.220.519.31 2

4.65.7

3.4

-8.2

39.4

5.8

.7

26.2

2.14.6

41.8

38.84.3.6

1.8

-2.4

Sec-ond

ha l f*

118 1127.4

-9 4

81 8

37 7

19.8

11.8

12 4

89 8

53.022.020.81 2

5.75.6

3.4

-8.0

42.0

5.9

1 0

27.2

2.25.7

43.4

40.44.4.6

2.0

-1.4

1 These accounts, like the cash budget, include the transactions of the trust accounts. Unlike both theconventional budget and the cash statement, they exclude certain capital and lending transactions. Ingeneral, they do net use the cash basis for transactions with business. Instead, corporate profits taxes areincluded in receipts on an accrual instead of a cash basis; expenditures are timed with the delivery insteadof the payment for goods and services; and CCC guaranteed price-support crop loans financed by banks arecounted as expenditures when the loans are made, not when CCC redeems them.2 Seasonally adjusted annual rates.3 Preliminary; fourth quarter estimates by Council of Economic Advisers.

NOTE.—Federal grants-in-aid to State and local governments are reflected in Federal expenditures andState and local receipts and expenditures. Total government receipts and expenditures have been adjustedto eliminate this duplication.

Detail will not necessarily add to totals because of rounding.Source: Department of Commerce (except as noted).

20O


TABLE D-54.—Reconciliation of Federal Government receipts and expenditures in theconventional budget and the consolidated cash statement with receipts and expenditures in thenational income accounts, fiscal years 1956-58


Receipts or expenditures

RECEIPTS

Budget receiptsLess* Intragovernmental transactions _ _ . _

Receipts from exercise of monetary authority. - _Plus* Trust fund receiptsEquals: Federal receipts from the public (consolidated cash receipts) _ .Less: Adjustment for agency coverage:

District of Columbia revenues _ .Plus: Adjustments for netting and consolidation:

Federal Government contributions to:Employee retirement fundsVeterans' life insurance funds

Federal Government employee contributions to employeeretirement funds _- . . . _ ._ _

Interest dividends, and other earningsAdjustments for timing:

Excess of taxes included in national income accounts overcash collections:

PersonalCorporate profits -.. .Other

MiscellaneousLess: Adjustments for capital transactions:

Realization upon loans and investmentsProceeds from sale of government propertyRecoveries and refunds

Equals: Receipts — national income accounts. .._ _ _ . .

EXPENDITURES

Budget expenditures - - - - - -- _ _ _Less* Intragovernmental transactions

Accrued interest and other noncash expenditures (net)Plus* Trust fund expenditures

Government-sponsored enterprise expenditures (net) -- -.Equals: Federal payments to the public (consolidated cash expenditures) . _Less: Adjustment for agency coverage:

District of Columbia expenditures ._. _ ..Plus: Adjustments for netting and consolidation:

Federal Government contributions to:Employee retirement fundsVeterans' life insurance funds

Federal Government employee contributions to employeeretirement funds

Interest received and proceeds of government salesAdjustments for timing:

Accrued interest on savings bonds and Treasury billsCommodity Credit Corporation guaranteed non-recourse

loans (net change)Increase in clearing account . _ _ . _ .M i«?cellaneous

Less: Adjustments for capital transactions:Loans and other adjustments:

Federal National Mortgage Association secondary marketoperations

Other -- - - -Purchase of land and existing assetsTrust and deposit fund expenditures -Redemption of International Monetary Fund notes _ _ _

Equals* Expenditures — national income accounts

I

1956

68 22 7

o11 777. 1

2

21

.6— 4

2.7o

— 4

35

.676.4

66.52 7

99.4.3

72.6

.2

2.1

.6— .8

.4

4.3

-1.3

.11.1.0.8

-.269.7

^iscal yean

1957

71 03 2

014 482 1

2

5o75

_ 3122

344

81.7

69 43 2

— 813 0

.080.0

.2

5o

.7— 6

6

— .2-.8

— 1.0

1.0.4.0.5.7

76.5

1958

69 13 5

116 381 9

2

7o7g

_ i—2 3

1_ 2

335

78 3

71 93 5

516 1-.683.4

.2

7o

.7- 6

.3

.1

.6-1.0

.11.1.1

-.2.4

82.5

NOTE.—Detail will not necessarily add to totals because of rounding.Sources: Treasury Department, Bureau of the Budget, and Department of Commerce.

2OI


TABLE D—55.—^-State and local government revenues and expenditures, selected fiscal years, 1927—57


Fiscal year J

1927

1932193419361938

19401942194419461948

1950195219531954

19551956 .19575

Revenues by source 2

Total

7,271

7,2677,7138,5049,228

9,60910, 41710,90812, 35717, 251

20, 91125, 18127, 30729, 013

31, 07334, 66738, 310

Prop-ertytaxes

4,730

4,4874,0764,0934,440

4,4304,5374,6044,9866,126

7,3498,6529,3759,967

10, 73511, 74913, 097

Salesandgrossre-

ceiptstaxes

470

7521,0081,4841,794

1,9822,3512,2892,9864,442

5,1546,3576,9277,276

7,6438,6919,461

Indi-vidualincometaxes

70

7480

153218

224276342422543

788998

1,0651,127

1,2371,5381,767

Corpo-ration

netincometaxes

92

7949

113165

156272451447592

593846817778

744890984

Reve-nuefromFed-eralGov-ern-

ment

116

2321,0511,057

SCO

945858954855

1,861

2,4862,5662,8702,966

3,1313,3353,838

Allotherreve-nue 3

1,793

1,6431,4491,6041,811

1,8722,1232,2692,6613,685

4,5415,7636,2526,897

7,5848,4659,163

Expenditures by function 2

Total

7,210

7,7657,1817,6448,757

9,2299,1908,863

11, 02817,684

22, 78726, 09827, 91030, 701

33, 72436, 71140, 438

Edu-cation

2,235

2,3111,8312,1772,491

2,6382,5862,7933,3565,379

7,1778,3189,390

10, 557

11,90713, 22014,501

High-ways

1,809

1,7411,5091,4251,650

1,5731,4901,2001,6723, 036

3,8034,6504,9875,527

6,4526,9537,762

Publicwel-fare

151

444889827

1,069

1,1561,2251,1331,4092,099

2,9402,7882,9143,060

3,1683,1393,411

Allother 4

3,015

3,2692,9523,2153,547

3,8623,8893,7374,5917,170

8,86710, 34010, 61911,556

12, 19613, 39714,763

1 Fiscal years not the same for all governments.2 Excludes revenues or expenditures of publicly owned utilities and liquor stores, and of insurance-trust

activities. Intergovernmental receipts and payments between governments in these categories are alsoexcluded.

s Includes licenses and other taxes and charges and miscellaneous revenues.4 Includes expenditures for health, hospitals, police, local fire protection, natural resources, sanitation,

housing and community redevelopment, local recreation, general control, interest on general debt, andother and unallocable expenditures.

5 Preliminary.

NOTE.—Data are not available for intervening years.See Table D^47 for net debt of State and local governments.Detail will not necessarily add to totals because of rounding.

Source: Department of Commerce (Bureau of the Census).

202


CORPORATE PROFITS AND FINANCE

TABLE D-56.—Profits before and after taxes', all private corporations. 1929-58


Period

1929

193019311932 .19331934

19351936193719381939 . .

19401941 . _ . .194219431944

19451946 . -194719481949 .

19501951195219531954

19551956195719583 .

1956: First quarterSecond quarter _ . _ _ _ _ .Third quarterFourth quarter, _ _ . . . .

1957: First quarterSecond quarterThird quarterFourth quarter... _ _ _

1958: First quarter. ...Second quarterThird quarterFourth quarter 3 _ ... ...

Corporateprofitsbeforetaxes

9.6

3.3-.8

-3.0.2

1.7

3.15.76.23.36.4

9.317.020.924.623.3

19.022.629.533.026.4

40.642.236.738.334.1

44.945.543.4

<36.4

Corporatetax

liability 1

1.4

.8

.5

.4

.5

.7

1.01.41.51.01.4

2.87.6

11.414.112.9

10.79.1

11.312.510.4

17.922.419.520.217.2

21.822.421.618.5

Corporate profits after taxes

Total

8.3

2.5-1.3-3.4-.41.0

2.24.34.72.35.0

6.59.49.5

10.510.4

8.313.418.220.516.0

22.819.717.218.116.8

23.023.121.817.8

Dividendpayments

5.8

5.54.12.62.12.6

2.94.54.73.23.8

4.04.54.34.54.7

4.75.86.57.27.5

9.29.09.09.29.8

11.212.012.412.3

Undistrib-uted

profits

2.4

-3.0-5.4-6.0-2.4-1.6

-.7-.2

(2)-.91.2

2.44.95.26.05.7

3.67.7

11.713.38.5

13.610.78.38.97.0

11.811.09.45.6


46.244.844.346.7

46.143.544.239.9

31.732.037.9

M4.0

22.822.121.823.0

23.021.722.019.9

16.116.319.322.4

23.422.722.423.7

23.121.822.120.0

15.515.718.621.6

11.712.012.211.8

12.512.612.712.0

12.512.412.511.8

11.710.710.211.9

10.69.29.48.0

3.03.36.19.8

1 Federal and State corporate income and excess profits taxes.2 $48 million.3 Preliminary; fourth quarter by Council of Economic Advisers.4 Provisional.NOTE.—No allowance has been made for inventory valuation adjustment. See Table D-9 for profits

before taxes and inventory valuation adjustment.Series revised beginning 1946. For details, see U. S. Income and Output, A Supplement to the Survey of

Current Business, 1959.Detail will not necessarily add to totals because of rounding.


203


TABLE D-57.—Relation of profits before and after taxes to stockholders' equity and to sales,private manufacturing corporations, by asset size class, 1956-58

[Thousands of dollars}

Period

1956:First quarterSecond quarter, _ _Third quarterFourth quarter...

1957:First quarterSecond quarter. _.Third quarterFourth quarter...

1958:First quarterSecond quarter. _.Third quarter

1956:First quarterSecond quarterThird quarterFourth quarter. . .

1957:First quarterSecond quarter. _ _Third quarterFourth quarter...

1958:First quarter _Second quarter, _.Third quarter

All assetsizes Under 250 250-999 1,000-4,999 5,000-99,999 100,000 and

over

Ratio of pro fits (annual rate) to stockholders' equity— percent

Beforetaxes

23.824.220.222.3

22.521.619.116.8

12.913.915.9

Aftertaxes

12.513.011.012.6

11.911.610.59.8

6.87.89.0

Beforetaxes

17.324.025.213.0

15.619.418.25.5

1.59.2

16.7

Aftertaxes

10.315.615.35.8

8.411.111.0

.7

-3.04.7

10.3

Beforetaxes

18.922.123.012.8

15.719.220.47.4

7.612.416.3

Aftertaxes

9.511.511.75.8

7.510.010.12.4

2.15.78.9

Beforetaxes

21.421.521.418.9

18.819.718.712.2

8.913.016.8

Aftertaxes

10.610.410.79.1

8.99.69.15.4

2.95.98.0

Beforetaxes

22.824.122.422.4

20.821.420.016.6

12.914.317.0

Aftertaxes

11.212.011.111.4

10.110.610.08.6

6.17.18.5

Beforetaxes

25.424.918.624.0

24.522.218.818.7

14.314.115.3

Aftertaxes

13.713.910.814.5

13.612.410.911.8

8.48.69.3

Profits per dollar of sales— cents

Beforetaxes

10.210.39.09.3

9.79.48.57.6

6.46.87.7

Aftertaxes

5.35.54.95.2

5.15.04.74.4

3.43.84.4

Beforetaxes

3.34.64.92.4

3.13.73.51.0

.31.93.3

Aftertaxes

1.93.03.01.1

1.72.12.1.1

-.6.9

2.0

Beforetaxes

4.65.25.32.9

3.74.54.71.8

1.92.93.8

Aftertaxes

2.32.72.71.3

1.82.32.3.6

.51.42.1

Beforetaxes

6.96.96.95.9

6.36.36.03.9

3.14.45.4

Aftertaxes

3.43.33.52.9

3.03.12.91.7

1.02.02.6

Beforetaxes

9.810.19.79.4

9.09.18.87.4

6.46.98.0

Aftertaxes

4.85.04.84.8

4.44.54.43.9

3.03.44.0

Beforetaxes

13.112.810.511.9

12.411.610.310.2

8.78.69.4

Aftertaxes

7.07.16.17.2

6.96.56.06.5

5.15.25.7

NOTE.—Data on a comparable basis are not available for earlier periods. For details concerning compila-tion of the series, see Quarterly Financial Reports for U. S. Manufacturing Corporations, Federal TradeCommission and Securities and Exchange Commission.

Sources: Federal Trade Commission and Securities and Exchange Commission.

204


TABLE D-58.—Relation of profits after taxes to stockholders' equity and to sales, private manu-facturing corporations, by industry group, 1956-58

Period

1956:First quarterSecond quarter..Third quarter.--Fourth quarter..

1957:First quarterSecond quarter..Third quarter. ..Fourth quarter _.

1958:First quarterSecond quarter _-Third quarter. ._

1956:First quarterSecond quarter ..Third quarter. _ .Fourth quarter..

1957:First quarterSecond quarter. .Third quarter. ..Fourth quarter..

1958:First quarterSecond quarter. .Third quarter. ..

Allpri-vateman-ufac-tur-ingcor-

pora-tions

Durable goods industries

Lum-berandwoodprod-ucts(ex-cept

furni-ture)

Fur-nitureandfix-

tures

Stone,clay,andglassprod-ucts

Pri-maryironandsteelin-

dus-tries

Pri-marynon-fer-rous

metalin-

dus-tries

Fab-ri-

catedmetalprod-ucts

Ma-chin-ery(ex-ceptelec-

trical)

Elec-trical

ma-chin-ery,

equip-ment,andsup-plies

Mo-tor

vehi-clesand

equip-ment

Othertrans-porta-tion

equip-ment

In-stru-

mentsandre-

latedprod-ucts

Mis-cella-neousman-ufac-tur-ing(in-

clud-ingord-

nance)

Ratio of profits after Federal taxes (annual rate) to stockholders' equity — percent

12.513.011.012.6

11.911.610.59.8

6.87.89.0

9.111.09.05.6

2.06.26.54.1

.23.1

11.0

10.711.413.011.2

7.39.29.77.8

2.03.48.7

12.617.215.913.6

10.013.713.811.9

4.011.114.9

14.715.16.0

15.1

13.813.09.98.9

5.36.56.5

19.918.013.914.1

12.49.78.17.1

5.74.65.6

10.911.511.09.4

9.510.911.05.8

4.97.38.8

11.914.212.012.3

12.313.010.17.5

5.77.77.2

10.312.111.611.4

13 912^911.511.9

8.59.2

10.3

16.713.16.9

15.7

18.815.39.2

13.6

8.35.91.6

14.316.713.616.1

14.816.413.913.8

11.09.9

10.1

8.711.912.516.3

10.612.411.613.2

6.99.3

12.1

9.710.413.313.0

6.97.5

10.45.8

1.06.9

14.7

Profits after taxes per dollar of sales — cents

5.35.54.95.2

5.15.04.74.4

3.43.84.4

4.44.73.82.5

1.02.93.12.1

.11.65.0

3.13.34.03.1

2.32.83.12.4

. 71.22.8

7.39.18.67.8

6.68.17.87.4

3.17.38.9

7.37.24.17.5

7.17.06.15.8

4.25.05.0

10.29.88.18.7

8.16.66.05.5

4.83.94.4

4.24.24.03.5

3.74.14.22.3

2.23.13.5

5.25.85.35.2

5.35.54.73.7

3.13.93.9

3.64.03.93.5

4.54.34.04.0

3.23.53.9

6.05.03.35.8

6.35.74.05.4

3.72.91.0

3.63.83.23.2

3.23.33.12.9

2.62.32.5

4.55.86.16.6

5.35.85.76.0

3.74.86.2

3.23.44.13.8

2.42.43.21.9

. ( >2.34.7


205


TABLE D-58.—Relation of profits after taxes to stockholders' equity and to sales, private manu-facturing corporations, by industry group, 1956—58—Continued

Period

1956:First quarterSecond quarterThird quarterFourth quarter


1958:First quarterSecond quarterThird quarter



1958:First quarterSecond quarterThird quarter

Nondurable goods industries

Foodandkin-dredprod-ucts

To-baccoman-ufac-tures

Tex-tilemillprod-ucts

Ap-pareland

relatedprod-ucts

Paperand

alliedprod-ucts

Print-ingandpub-lish-ing(ex-cept

news-pa-

pers)

Chem-icalsand

alliedprod-ucts

Petro-leumrefin-ing

Prod-ucts ofpetro-leumandcoal(ex-cept

petro-leumrefin-ing)

Rub-ber

prod-ucts

Leatherand

leatherprod-ucts

Ratio of profits after Federal taxes (annual rate) to stockholders' equity — percent

8 29.9

10.48.7

7.48.4

10.48.3

6.98.69.9

10 012.012 712.1

10.311.913.913.8

11.813.314.5

6.44.85.56.4

4.44.44.83.4

.92.75.2

6.84.5

10.910.0

6.75.99.73.0

3.41.39.5

12.112.211.011.3

10.29.08.77.8

6.87.67.4

16.315.011.010.0

12.314.811.98.0

8.39.3

11.5

15.014.713. 113.9

13.713.913.112.3

9.911.312.0

13.114.013.215.3

14.411.811.112.5

8.98.2

10.4

7.711.112.08.4

4.38.2

10.87.6

-.86.29.8

11.913.111.012.8

11.511.610.910.6

6.78.1

11.3

9 66.66 36.4

6.66.56.98.0

4.13.28.4

Profits after taxes per dollar of sales — cents

2.22.62.72.2

2.02.22.62.1

1.82.22.5

4.55.05.35.1

4.74.95.55.4

5.15.25.5

2.82.22.62.8

2.02.02.21.5

.41.32.4

1.41.02.11.9

1.41.21.8.6

.7

.31.7

6.46.45.95.9

5.74.94.94.5

4.14.54.3

5.45.03.73.0

4.04.83-. 82.5

2.83.34.0

8.58.17.67.9

7.87.97.67.3

6.46.77.0

10.612.011.412.3

11.010.29.8

11.3

8.28.29.9

3.84.75.33.8

2.13.64.43.4

-.52.93.9

4.34.64.14.7

4.44.34.04.1

3.03.44.5

2.81.91.81.8

1.81.92.02.4

1.31.02.4

NOTE.—Data on a comparable basis are not available for earlier periods. For explanatory notes concerningcompilation of the series, see Quarterly Financial Reports for U. S. Manufacturing Corporations by FederalTrade Commission and Securities and Exchange Commission.

Sources: Federal Trade Commission and Securities and Exchange Commission.

206


TABLE D-59.—Sources and uses of corporate Junds, 1947-58l


Source or use of funds

Total uses

Plant and equipment outlaysInventories (change in book

value).. .-.Change in customer net receiv-

ables 3Cash and U. S. Government

securitiesOther assets ._

Total sources

Internal sources

Retained profits and deple-tion allowances

Depreciation and amortiza-tion allowances

External sources

Change in Federal incometax liability

Other liabilitiesChange in bank loans and

mortgage loansNet new issues

Discrepancy (uses less sources)

1947

28.2

17.0

7.1

3.1

1.0(4)

27.9

16.6

11.4

5.2

11.3

2.11.5

3.34.4

.3

1948

27.0

18.8

4.2

2.8

1.0.2

27.8

18.8

12.6

6.2

9.0

.9

.4

1.85.9

-.8

1949

16.8

16.3

-3.6

.9

3.2(4)

15.8

14.9

7.8

7. 1

.9

—2.2.5

—2.34.9

1.0

1950

36.5

16.9

9.8

5.0

4.5.3

35.4

20.8

13.0

7.8

14.6

7.31.0

2.63.7

1.1

1951

36.8

21.6

9.8

2.0

2.8.6

36.9

19.0

10.0

9.0

17.9

4.31.9

5.46.3

— .1

1952

27.3

22.4

1.3

3.1

. 1

.4

28.1

17.8

7.4

10.4

10.3

-3.12.4

3.17.9

-.8

1953

28.2

23.9

1.8

1.8(4)

30.0

19.7

7.9

11.8

10.3

.62.2

.47.1

-1.8

1954

24.0

22.4

-1.6

2.4

(4)

.8

22.4

19.8

6.3

13.5

2.6

-3.1.4

-.65.9

1.6

1955

45.1

24.2

6.7

6.4

5.02.8

44.8

26.6

10.9

15.7

18.2

3.82.1

5.46.9

.3

1956

39.9

29.9

8.4

5.0

—4.3.9

41.5

27.9

10.2

17.7

13.6

— 1.42.0

5.27.8

-1.6

1957

39.3

32.7

1.7

4.4

— 1.82.3

41.2

28.5

8.8

19.7

12 7

-1.91.9

1.810.9

-1.9

19582

33.5

26.5

-4.5

6.5

2.52.5

33.5

27.5

56.0

21.5

6.0

-3.0(4)

-1.010.0

(4)

1 Excludes banks and insurance companies.2 Preliminary estimates.3 Receivables are net of payables, which are therefore not shown separately.4 Less than $50 million.8 Preliminary estimate by Council of Economic Advisers.


Source: Department of Commerce based on Securities and Exchange Commission and other financialdata (except as noted).

2O7


TABLE D-60.—Current assets and liabilities of U. S. corporations, 1954-58l

[Billions of dollars, end of period]

Asset or liability

Total current assets

Cash on hand and inbanks.

U. S. G o v e r n m e n tsecurities

Receivables from U. S.Government 2

Other notes and accountsreceivable.

InventoriesOther current assets 3

Total current liabilities

Advances and prepay-ments, U. S. Govern-ment 2 ._ _

Other notes and accountspayable

Federal income tax lia-bilities

Other current liabilities. .

Net working capital

1954

194.6

33.4

19 2

2.4

71.265 33.1

99.7

2.4

59.3

15.522.5

94.9

1955

224.5

34.6

23.0

2.3

87.172 84.7

121. 5

2.3

73.5

19.326.5

103.0

1956

235.9

35.1

18.2

2.6

94.580.45.1

126.8

2.4

78.0

17.928.6

109.1

Firstquarter

235.2

32.3

17.7

2.5

94.9

5.5

124.2

2.5

77.0

15.429.4

111.0

19

Secondquarter

234.9

33.0

15.4

2.5

96.182.45.4

122.8

2.6

77.3

13.129.7

112. 1

57

Thirdquarter

239.5

33.7

15.7

2.4

98.783.25.7

126.6

2.6

78.3

14.831.0

112.9

Fourthquarter

239.9

35.0

16.5

2.8

97.582.25.9

126.5

2.3

77.6

16.030.6

113.5

Firstquarter

232.8

32.6

15.4

2.7

94.681.46.2

118.0

2.1

73.2

12.829.9

114.8

1958

Secondquarter

231.0

34.5

13.3

2.6

96.078.36.3

114.5

1.9

72.1

10.130.4

116.6

Thirdquarter

236.0

35.5

14.3

2.7

99.977.36.3

117.2

1.8

73.1

11.730.6

118.8

1 All corporations in the United States, excluding banks, savings and loan associations, and insurancecompanies. Data for 1954-55 are based on Statistics of Income, covering virtually all corporations in theUnited States. Statistics of Income data may not be strictly comparable from year to year because of changesin the tax laws, basis for filing returns, and processing of data for compilation purposes. Data for 1956-58are estimates based on data compiled from many different sources, including data on corporations registeredwith the Securities and Exchange Commission. As more complete data become available, estimates arerevised.

2 Receivables from and payables to U. S. Government do not include amounts offset against each otheron the corporation's books or amounts arising from subcontracting which are not directly due from or tothe U. S. Government. Wherever possible, adjustments have been made to include U. S. Governmentadvances offset against inventories on the corporation's books.

3 Includes marketable securities other than U. S. Government.NOTE.—Detail will not necessarily add to totals because of rounding.Source: Securities and Exchange Commission.

208


TABLE D—61.—State and municipal and corporate securities offered, 1934-58l


Period

1934. .

19351936193719381939 .

19401941194219431944

19451946194719481949 _

19501951 - -195219531954

1955195619571958«

1956: First quarter.. -Second quarter .Third quarter. .Fourth quarter.

1957: First quarter...Second quarter .Third quarter..Fourth quarter.

1958: First quarter...Second quarter.Third quarter. .Fourth quarter B_

Stateand

munici-pal se-curitiesofferedfor cash(prin-cipal

amounts)

939

1,2321,121

9081,1081,128

1,238956524435661

7951,1572,3242,6902,907

3,5323,1894.4015,5586,969

5, 9775,4466,9587,400

1,5171,617

9281,384

1,7581,6891,5491,962

2,2062,2281,6681,283

Corporate securities offered for cash 2

Gross proceeds 3

Total

397

2,3324,5722,3102,1552,164

2,6772,6671,0621,1703, 202

6,0116,9006,5777,0786,052

6,3617,7419,5348,8989,516

10, 24010, 93912, 88411,518

2,2502,9892,6903,010

3, 5583,2582,9973,071

3,3142,9082,9442,352

Com-monstock

19

22272?852587

108no3456

163

397891779614736

8111,2121,3691,3261,213

2,1852,3012,5161,335

352532457960

753765404593

287212344493

Pre-ferredstock

6

862714068698

183167112124369

7581,127

762492425

631838564489816

635636411544

19114699

199

9813972

102

182135104122

Bondsand

notes

372

2,2244,0281,6182,0441,980

2,3862.390

917990

2,670

4, 8554,8825,0365,9734,890

4,9?05,6917,6017,0837,488

7,4208,0029,9579,640

1,7062,3112,1341,851

2,7062,3542,5212,376

2,8452,5622,4961,737

Proposed uses of net proceeds 4

Total

384

2,2664,4312,2392,1102,115

2,6152,6231,0431,1473,142

5,9026,7576,4666,9595,959

6,2617,6079,3808,7559,365

10, 04910, 74912, 66111, 331

2,2092, 9352,6412,964

3,4933,1942,9503,023

3,2692,8602,8962,305

New money

Total

57

208858991681325

5698684743C8657

1,0803,2794, 5915,9294,606

4,0066,5318,1807,9606,780

7.9579,663

11, 7849,926

1,9472,5892,3692,758

3,1802,9482,8092,847

3,0692,2782,5821,997

Plantand

equip-ment

32

111380574504170

424661287141252

6382,1153,4094,2213,724

2,9665. 1106,3125,6475, 11C

5, 3336,7099,0407,841

1,0761,8641,6372,132

2,5912,2381,9552, 255

2,5601,8961,9361,449

Work-ing

capi-tal

26

96478417177155

145?07187167405

4421,1641,1821,708

882

1,0411,4211,8682,3131,670

2,6242,9542,7442,084

871725732626

589710853592

509382645548

Retire-mentof se-

curities

231

1,8653,3681,1001,2061,695

1,8541,583

396739

2,389

4,5552,8681,352

307401

1,271486664260

1,875

1,227364214553

1061308642

49465169

13523811268

Otherpur-poses

95

19320414822295

19217217310096

267610524722952

984589537535709

864721663852

155215187164

26420191

107

66344203240

1 These data cover substantially all new issues of State, municipal, and corporate securities offered forcash sale in the United States in amounts over $100,000 and with terms to maturity of more than 1 year.

2 Excludes notes issued exclusively to commercial banks, intercorporate transactions, and issues soldthrough continuous offerings, such as securities of open-end investment companies and employee-purchaseplans.

3 Number of units multiplied by offering price.4 Net proceeds represents the amount received by the issuer after payment of compensation to distributors

and other costs of flotation.5 Preliminary.


Sources: Securities and Exchange Commission, The Commercial and Financial Chronicle, and The BondBuyer.

209


TABLE D-62.—Common stock prices and earnings and stock market credit, 1939-58

Period

1939

194019411942 . -19431944

194519461947 . .19481949

195019511952 - .19531954

1955195619571958

1957: January -February . .MarchAprilMayJune - - -

JulyAugust - ---September _ _ _ _OctoberNovemberDecember

1958: January - - _ _FebruaryMarchAprilMayTune .


Commonstockpricesindex,

1939=100(SEC) i

100.0

94.285.774.999.2

108.1

131.2149.4130.9132.7127.7

154.1184.9195.0193.3229.8

304.6345.0331.4340.9

338.2325. 1328.5338.6352.2354. 6

361.8343.2327.9306.4301.8298.5

304.7304.0310.8311 9322.9330.6

339. 2351.7360.5376.4387.8392.8

Commonstockprice/

earningsratio-

industrials(Standard& Poor's) 2

15.06

10.227.92

12.1814.4016.07

19.7413.908.946.456.88

7.039.54

10.919.56

12.90

12.8314.1912.24

(«)

13.10

14.36

12.76

12.24

13.70

15.92

18.20

(«)

Stock market credit

Customer credit (excluding U. S.Government securities)

Total Net debitbalances 3

Bank loansto

"others" 4

Bank loansto brokers

anddealers 5

Millions of dollars

(6)

(6)(6)(6)(6)(6)

1,374976

1,032968

1,249

1,7981,8261,9802, 4453,436

4,0303,9843,576

(«)

3,9023,8463,8323,9383,9244,031

4,0043,9293,8823,6433,5773,576

3,5543,6793,8633,9804,0694,218

4,2524,1994,3084,3694,423

(«)

(6)

(6)(•)(«)(6)(6)

942473517499821

1,2371,2531,3321,6652,388

2,7912,8232,482

(«)

2,7612,7292,7132,7922.7942,887

2,8852,8332,7892,5682,5172,482

2,4872,5802,6652,7352, 8562,921

3, 0213,0133,1093,1883,245

O

(6)

(6)(•)(6)(6)

353

432503515469428

561573648780

1,048

1,2391,1611,0941,270

1,1411,1171,1191,1461,1301,144

1,1191,0961,0931,0751,0601,094

1,0671,0991,1981,2451,2131,297

1,2311,1861,1991,1811,1781,270

715

584535850

1,3282,137

2,7821,471

7841,3311,608

1,7421,4192,0022,2482,688

2,8522,2142,1902,504

1,6891,7601,6701,8421, 7651,842

1,6601,8101,7481,6421,6102,190

1, 6451,8822,0702,7492, 2043,170

2, 3081, 6651,6711,6411, 9152,504

1 Based on 265 stocks.2 Based on 50 stocks for 1939-56 and 425 stocks beginning 1957. Ratio is obtained by dividing aggregate

market value at end of period by aggregate earnings for 12 months ending with period shown.3 As reported by member firms of the New York Stock Exchange carrying margin accounts. Includes

net debit balances of all customers (other than general partners in the reporting firm and member firms ofnational exchanges) whose combined accounts net to a debit. Balances secured by U. S. Governmentobligations are excluded. Data are for end of period.

4 Loans by weekly reporting member banks to others than brokers and dealers for purchasing or carryingsecurities except TJ. S. Government obligations. However, some U. S. Government securities areincluded after 1952. Series revised beginning July 1946 and March 1953. Data are for last Wednesday ofperiod.

5 Loans by weekly reporting member banks for purchasing or carrying securities, including U. S. Govern-ment obligations. Series revised beginning July 1946 and January 1952. Data are for last Wednesday ofperiod.

6 Not available.

Sources: Securities and Exchange Commission, Board of Governors of the Federal Reserve System.Standard & Poor's Corporation, and New York Stock Exchange.

2IO


TABLE D-63.—Business population and business failures, 1929-58

Period

19291930193119321933.1934193519361937193819391940 . . _1941194? .1943.... ._1944194519461947- . .194819491950 _195119521953.1954 .1955 .1956195719581957:

JanuaryFebruary...MarchApril..MayJuneJulyAugust .September. -OctoberNovember..December__

1958:JanuaryFebruaryMarchAprilMay.. _JuneJulyAugustSeptember..OctoberNovemberDecember

Operating businesses andbusiness turnover (thou-

sands of firms) i

Oper-atingbusi-

nesses 2

3, 029. 02, 993. 72, 916. 42, 828. 12, 782. 12, 884. 02,991.93, 069. 83, 136. 33, 073. 73, 222. 23. 318. 93. 276. 03, 295. 33, 030. 02, 839. 12, 995. 43, 242. 53, 651. 23, 872. 93, 984. 24, 008. 74, 067. 34, 121. 34, 178. 84, 185. 34, 189. 04, 245. 24, 289. 04, 322. 7

4, 289. 0

4. 323. 2

4, 322. 7

Newbusi-ness-es s

(6)(6)(6)(6)(6)(6)(6)(6)(6)(6)(6)

275.2290.0121.2146.0330.9422.7617.4460.8393.3331.1348.2363.2363.9340.5334.2380.4380.8365.6

211.0

154.6

Dis-con-tin-uedbusi-ness-ess

(6)(6)(6)(6)(6)(6)(6)(•)(6)(6)(6)

318.1270.7386.5337.0174.6175.6208.7239.2282.0306.5289.6309.3306.3334.0330.6324.1337.0332.0

176.9

155.1

Busi-ness

trans-fers s

(6)(6)(6)(6)(6)(6)(6)(6)(6)(6)(6)(6)(8)(6)(6)

359.4473.2626.9571.9501.3434.7419.4378.3374.9356.2319.7327.0327.3341.0

193.2

147.8

Newbusi-ness

incor-pora-tions(num-ber) 3

(6)(6)(•)CO(6)(6)(•)(6)(6)<•)(6)(6)(•)(6)(6)(6)(6)

132, 916112, 63896, 10185, 49192, 92583, 64992, 819

102, 545117, 164139, 651140, 775136, 697150, 268

13,38710, 79112,04912, 31212, 22011,26911, 68611, 36110, 52611,2519,270

10, 575

13, 08010, 46611, 670

' 11,32911, 94311, 99112, 45412, 23412, 93213, 63312, 09016, 446

Business failures 3 <

Busi-nessfail-ure

rate »

103.9121.6133.4154.1100.361.161.747.845.961.169.663.054.544.616.46.54.25.2

14.320.434.434.330.728.733.242.041.648.051.755.9

48.051.164.948.250.150.047.863.458.751.556.061.9

53.264.160.059.755.367.358.264.053.457.455.951.3

Number of failures

Total

22, 90920, 35528. 28531,822

7 19, 85912, 09112, 2449,6079,490

12, 83614, 768

713,61911,8489,4053,2211,222

8091,1293,4745, 2509,2469,1628,0587,6118,862

11,08610, 96912, 68613, 73914, 964

1,1481,1461,3361,1751,2001,0841,0591,1451,0711,1221,1731,080

1,2791,2381,4951,4581,3411,2601,2531,1271,0391.2711.1211,082

Liability sizeclass

Under$100,000

22, 16525,40827, 23030, 197

718,88011, 42111. 6919,2859,203

12,55314,541

7 13, 40011, 6859,2823,1551,176

7591,0023,1034,8538,7088,7467,6267,0818,075

10, 22610, 11311,61512,54713, 499

1,0221,0421,2251,0711,069

988974

1,070984

1,0321,075

995

1.1421,1131, 3421,2751,2351,1301,1391,018

9321,1781,007

988

$100,000andover

744947

1,0551,6257979

670553322287283227

7219163123664650

127371397538416432530787860856

1,0711,1921,465

12610411110413196857587909885

13712515318310613011410910793

11494

Amount of currentliabilities (millions of

dollars)

Total

483.3668.3736.3928.3

7457.5334.0310. 6203.2183.3246.5182.5

7 166. 7136.1100.845.331.730.267.3

204.6234.6308.1248.3259.5283.3394.2462.6449.4562.7615.3728.3

54.165.455.857.152.651.544.343.545.447.452.945.3

64.465.371.684.056.261.465.450.848.147.356.757.1

Liability sizeclass

Under$100,000

261.5303.5354. 2432.6

7 215. 5138.5135. 5102.8101.9140.1132.9

7119.9100.780.330.214.511.415.763.793.9

161.4151.2131.6131.9167.5211.4206.4239.8267.1297. 6

21.023.125.223.121.520.719.723.420.922.323.622.6

23.824.431.627.828.525.225.422.521.424.121.521.5

$100,000andover

221.8364.8382.2495.7

7 242. C195.4175.1100.481.4

106.449.7

746.835.420.515.117.118.851.6

140.9140.7146.797.1

128.0151.4226. 6251.2243.0322.9348.2430.7

33.042.330.634.031.030.824.620.224.525.129.322.7

40.640.940.056.227.836.239.928.326.723.235.235.6

1 Excludes firms in the fields of agriculture and professional services. Includes self-employed persononly if he has either an established place of business or at least one paid employee.

2 Annual data through 1939 are averages of end-of-quarter estimates centered at June 30. Beginning1940, annual data are for January 1.

3 Total for period.4 Commercial and industrial failures only. Excludes failures of banks and railroads and, beginning 1933.

of real estate, insurance, holding, and financial companies, steamship lines, travel agencies, etc.s Failure rate per 10,000 listed enterprises. Monthly data are seasonally adjusted.6 Not available.7 Series revised; not strictly comparable with earlier data.NOTE.-—Detail will not necessarily add to totals because of rounding.Sources: Department of Commerce and Dun & Bradstrcet, Inc.

21 I


AGRICULTURE

TABLE D-64.—Income of the farm population, 1929-58

Period

1929

19301931193219331934

193519361937.1938.1939

1940.1941194219431944

1945 --1946194719481949 .195019511952195319541955195619571958*

1957:First quarter—Second quarter-Third quarter.Fourth quarter.

1958:First quarter 5_Second quarter'Third quarter '_Fourth quarter'

Income from agricultural sources

Farm operators' income

Realszed gross farm income

Total i

Cash re-ceipts frommarketings

Live-stockand

prod-ucts

Crops

Gov-ern-

mentpay-

ments

Farmpro-duc-tionex-

penses

Net farmincome 2

Real-ized(ex-

clud-ingnet

changein in-ven-

tories)

Total(in-

clud-ingnet

changeinin-

ven-tories) s

Wagesof

farmresi-dentwork-

ers

Total(in-

clud-ingnet

changeinin-

ven-tories)

Incomefromnon-agri-cul-tural

sources

Incomefromall

sources(in-

clud-ingnet

changeinin-

ven-tories)

Billions of dollars

13.911.48.46.47.18.59.7

10.711.310.110.611.013.818.823.424.425.829.734.434.931.832.537.337.035.333.933.334.634.337.6

6.25.23.82.82.83.34.14.74.94.54.54.96.59.0

11.511.412.013.816.517.115.416.119.618.316.916.315.916.317.418.8

5.13.92.52.02.53.03.03.63.93.23.33.54.66.58.19.29.7

11.013.113.112.412.413.314.414.213.713.714.212.414.1

00000.1.4.6.3.3.4.8.7.5.6.6.8.7.8.3.3.2.3.3.3.2.3.2.6

1.01.1

7.66.95.54.44.34.75.15.66.15.86.26.77.79.9

11.512.212.914.517.018.918.019.322.222.621.421.721.922.523.524.6

6.34.52.91.92.83.94.65.15.24.34.44.36.28.8

11.912.212.815.217.316.113.813.215.214.413.912.211.512.110.813.0

6.14.33.32.02.62.95.34.36.04.44.54.66.69.9

11.811.812.415.315.517.812.914.016.315.313.312.711.811.611.613.2

0.9.8.6.5.4.5.6.6.7.7.7.7.9

1.21.41.5.6.8.9.0.8.7.8.9.8.8.7.8

1.81.8

7.05.14.02.53.03.4

5.95.06.85.15.25.37.5

11.113.213.4

14.017.017.519.814.715.718.117.315.114.413.513.413.415.0

(4)(4)(4)(4)(4)1.92.02.32.52.32.52.73.13.84.24.4

4.24.34.95.15.25.35.66.16.05.86.36.76.36.4

(4)(4)(4)(4)(4)5.37.97.39.37.47.78.0

10.614.917.417.818.221.422.424.919.921.023.723.421.120.219.820.119.721.4

Percapitaincome

fromall

sources(dollars)

(4)(4)(4)(4)(4)

165244228296239249

262349509654696

720806825962767838983962931925894903967

1,027


34.434.334.334.3

37.038.037.737.8

(4)(4)(4)(4)

(4)(4)(4)(4)

(4)(«)(4)(4)

(4)(4)(4)(4)

(4)(4)(4)(4)

(4)(4)(4)(4)

23.423.623.423.6

24.224.424.825.2

11.010.710.910.7

12.813.612.912.6

11.511.611.811.5

12.613.413.313.3

88(4)(4)(4)(4)

(4)(4)(4)(4)

(4)(4)(4)(4)

(4)(4)(4)(4)

(4)(4)(4)(4)

(4)(4)(4)(4)

(4)(4)(4)(4)

8(4)(4)

(4)(4)(4)(4)

1 Also includes nonmoney income furnished by farms (value of farm products consumed in farm house-holds and gross rental value of farm dwellings), not shown separately.

2 Realized gross farm income less farm production expenses.3 Data prior to 1946 differ from farm proprietors' income shown in Tables D-9 and D-12 because of revi-

sions by the Department of Agriculture not yet incorporated into the national income accounts of theDepartment of Commerce.

4 Not available.5 Preliminary.NOTE.—Detail will not necessarily add to totals because of rounding.

Source: Department of Agriculture.

212


TABLE D-65.—Farm population, employment, and productivity, 1929-58

Period

1929

193019311932 ..19331934

19351936 _193719381939

1940 .194119421943.--1944

19451946194719481949

19501951195219531954

195519561957 -1958 6

Farm popu-lation

(April 1) i

Num-ber

(thou-sands)

30,580

30, 52930, 84531,38832, 39332, 305

32, 16131, 73731, 26630, 98030, 840

30, 54730, 27329, 23426,68125, 495

25, 29526, 48327, 12425,90325,954

25, 05824,16024, 28322, 67921,890

22, 15822, 25720, 39620, 827

As percent oftotal

popula-tion 2

25.1

24.824.825.125.825.5

25.324.824.223.823.5

23.122.721.719.518.4

18.118.718.817.717.4

16.515.715.514.213.5

13.413.211.912.0

Net mi-grationto andfromfarms(thou-

sands)3

-477

-61156607

-463-527

-799-834-661-545-703

-633-1,424-2, 975-1, 563

-564

864151

-1,686-371

-1,314

-1,302-271

-1,996-1,171

-91

-256-2, 236

93(7)

Farm employment(thousands) 4

Total

12,763

12, 49712, 74512, 81612, 73912, 627

12, 73312, 33111,97811, 62211,338

10, 97910, 66910,50410, 44610, 219

10,00010, 29510, 38210, 3639,964

9,9269,5469,1498,8648,639

8,3647,8207,5777,525

Familyworkers

9,360

9,3079,6429,9229,8749,765

9,8559,3509,0548,8158,611

8,3008,0177,9498,0107,988

7,8818,1068,1158,0267,712

7,5977,3107,0056,7756,579

6,3475,8995,6825,570

Hiredworkers

3,403

3,1903,1032,8942,8652,862

2,8782,9812,9242,8072,727

2,6792,6522,5552,4362,231

2,1192,1892,2672,3372,252

2,3292,2362,1442,0892,060

2,0171,9211,8951,955

Averagegross

hourlyearn-

ings ofhiredfarmwork-ers5

$0. 241

.226

.172

.129

.115

.129

.142

.152

.172

.166

.166

.169

.206

.268

.353

.423

.472

.515

.547

.580

.559

.561

.625

.661

.672

.661

.675

.705

.728

.757

Man-hours

offarmwork

Farmoutput

perman-hour

Crop produc-tion

Perman-hour

Peracre

Index, 1947-49=100

135

134137132132118

123119129120121

119117122121120

11210810310097

8991898885

85837980

55

5458585351

5955646666

7074797881

869192

104104

112113120123127

132136143154

53

5256575149

5852626565

6973797781

869291

105104

115112123124129

135141154169

79

7583797159

7665888585

8889999196

9510195

10699

9798

103103101

106109112126

1 Farm population as denned by Department of Agriculture and Department of Commerce, i. e., civ-ilian population living on farms, both urban and rural, regardless of occupation.

2 Total population as of July 1 including armed forces overseas.3 Net change for year beginning in April, estimated by Department of Agriculture. For 1940 and sub-

sequent years, includes inductions and enlistments into the armed forces, and persons returning from thearmed forces. For all years, includes persons who have not moved but who are in and out of the farm popu-lation because agricultural operations have begun or have ceased on the place where they are living.

4 Includes persons doing farm work on all farms. These data, published by the Department of Agri-culture, Agricultural Marketing Service, differ from those on agricultural employment by the Departmentof Commerce, Bureau of the Census (see Table D-17) because of differences in the method of approach, inconcepts of employment, and in time of month for which the data are collected. For further explanation,see monthly reports on Farm Labor by the Department of Agriculture.

3 Weighted average of all farm wage rates on a per-hour basis.6 Preliminary.7 Not available.Sources: Department of Agriculture and Department of Commerce.

489916 O— 59 15213


TABLE D-66.—Farm production indexes, 1929-58

[1947-49=100]

Period

1929

193019311932...-19331934

19351936....193719381939....

1940194119421943-.--1944

19451946--..194719481949.....

19501951195219531954

1955195619571958 4_-

Farmout-put i

74

7279767060

7265827980

8386969497

969895104101

100103107108108

112113113123

Livestock and products

Total 2

77

7880818275

7277767985

8792102111105

10410110097103

107112112114117

120122121124

Meatani-mals

77

7882838673

6674717787

8994107120108

10310110097103

109117117116121

127123120123

Dairyprod-ucts

82

8486868785

8687868990

929610099101

10310210198101

101100100105107

108110111111

Poul-tr?;andeggs

63

6563636259

5963636569

707789102102

106999896106

111116117120125

123136137144

Crops

Total 3

79

7684807158

7664888382

8586979096

939893106101

9799103103101

105106106118

Feedgrains

83

7384957348

8053878483

859110496100

9710581116103

10497102101106

112112122134

Hayandfor-age

88

7579867967

9674879893

106106115110109

11310410310097

106111107110109

116110126125

Foodgrains

66

7276624544

5352727561

6776806985

899210810389

83821059685

808479117

Vege-tables

81

8283838087

8883898988

91929610399

1011109810399

9892929694

9610197101

Fruitsandnuts

76

7594767772

9172958598

9510210087102

9311010496100

104106102104104

104110108110

Cot-ton

104

98119919168

75871338483

8875908086

636183104113

7010610611596

103937781

To-bac-co

75

8176496854

6558786994

7262707096

981141059897

101115112103110

1091078387

Oilbear-ingcrops

21

2323211821

3427303647

5661929882

888591109100

116106104102116

128152148181

1 Farm output measures the annual volume of farm production available for eventual human use throughsales from farms or consumption in farm households. Total excludes production of feed for horses and mules.

2 Includes certain items not shown separately.3 Includes production of feed for horses and mules and certain other items not shown separately.< Preliminary.


214


TABLE D-67.—Indexes of prices received and prices paid by farmers, and parity ratio, 1Q29—58

[1910-14=100]

Period

1929

19301931193219331934 _

1935193619371938.1939

19401941194219431944.194519461947 _1948 ._.1949

19501951 .195219531954195519561957 .1958. _.1957:JanuaryFebruary ...MarchAprilMay..JuneJulyAugustSeptember .OctoberNovember .December- -

1958:JanuaryFebruary. .-MarchAprilMayJuneJulyAugustSeptember .OctoberNovember _December..

Prices received by farmers

Allfarmprod-ucts 1

148

12587657090

1091141229795

100124159

3193319732073236276287250

258302288258249

236235242255

237235238241242243246247245241242243

247252263264264255254251258252251246

Crops

All

crop

s '

135

11575577198

1031081188082

90108145187199202228263255224

233265268242242236240233232

237234237241241240237232227225223219

224229245252246

! 232

22822523222722522C

3C8SHbo

£

116

9356446690

971081207572

8497120148166172201271250218224243244231232229224225206

237235235233225218218217217219221221

21721922422322119719f19C19519£

1 20f| 19*

|

.s

I118

10674485795

1071031257172

8592115152172

167202256258177193226234208206187185170156

187181181180179173170169163156150151

146148152162163167165163161153145154

|"o0

150

104644968101

9899947074

83111156167172

179238274272246282336310268274272268264253

256255252258266270273278279273263239

!

23221122023624624626C281292281274256

1

171

1409884107156

171163200173152

134157247319348

360376374380398402436432429439

437453465481

457458459459457457460469484483473466

474475475475475474

473483482501485505

aIbofl"S

10

143

111734457103

1271201299596

103138183202222

228260363351242

276339296274279

250250252228

266260265264263260250252244231235237

23322S23423723823S

22723222C2142U2U

Livestock and products

All

live

stoc

k an

dpr

oduc

ts l

159

13498727081

114119126112107

109138171198196

211242288315272

280336306272255236230249275

238236238242242245254261260255258263

2671 273

28027528C27527727528C

1 275>! 274>| 27C

Mea

t an

imal

s

155

13391635968

115118130113110

108143186203190

32073248329361311340409353296292249238279334

253252263275280288297302291275277293

30832433633935534834733833S33C326323

Dai

ry p

rodu

cts

166

1421118687101

114125131115110

120140163

3 198322232293268273301252249286302274252253260264259

271266260253248246253

i 260272278

1 28C275

26?26626124£244241246

1 25526427127227(

Pou

ltry

and

egg

s

161

12898817489

11611511111096

98122152191177198201223242221

186228206221176188177162169

155156149148143145155168175181

1 188j 185

1 174165187172168163166166

! 1741 164

5 164) 157

Prices paid byfarmers

Allterns,inter-est,taxes,andwagerates(par-ityin-dex)

160

151130112109120

124124131124123

124133152171182190208240260251

256282287279281281285295305

292293294296296296295295295296298299

301302304306306305305304305307308308

Fam-

ryliv-ingterns

154

144124106108122

124124128122120

121130149166175182202237251243

246268271270274273278286292

28328428428286

1 28

282828286289289

289290

! 2931 293! 294

293293291290291293291

Pro-duc-tionterns

146

1351139999114

122122132122121

123130148164173176191224250238

246273274253252249249258270

25525625825925925"2525258

1 25826C26

262626272727C27C26?272271272273

Par-ityra-tio 2

92

8367586475

8892937877

8193105113108109113115110100

101107100928984828284

818081818282838483818181

828387868684838385828180

1 Includes items not shown separately.2 Percentage ratio of index of prices received by farmers for all farm products to parity index.3 Includes wartime subsidy payments.


215


TABLE D-68.—Comparative balance sheet of agriculture, 1940—59


Beginningof period

19401941194219431944

19451946194719481949

1950195119521953....1954

1955 .._1956195719581959 3

Assets

Total

53.055.162.573.383.8

93.1102.0113.9125.2132.1

130.8149.6165.6162.9159.7

164.7168.3176.4186 7200.0

Realestate

33.634.437.541.648.2

53.961.068.573.776.6

75.386.896.096.694.7

98.8102.7109.5116.3123.2

Other physical assets

Live-stock

5.15.37.19.69.7

9.09.7

11.913.314.4

12.917.119.51^.811.7

11.210.711.114.2

Ma-chin-eryand

motorvehi-cles

3.13.34.04.95.3

6.35.25.17.09.4

11.313.015.215.616.3

16.216.717.217.6

Crops !

2.73.03.85.16.1

6.76.37.19.08.6

7.67.98.89.09.2

9.68.38.37.6

House-holdfur-

nish-ingsand

equip-ment2

4.34.34.54.64.6

4.74.85.46.27.0

7.88.79.5

10.210.8

11.411.912.412.8

Financial assets

Depos-its

andcur-

rency

3.23.54.25.46.6

7.99.4

10.29.99.6

9.19.19.49.49.4

9.49.59.39.4

U.S.savingsbonds

0.2.4.5

1.12.2

3.44.24.24.44.6

4.74.74.74.64.7

5.05.25.15.1

Invest-mentin co-opera-tives

0.8.9.9

1.01.1

1.21.41.51.71.9

2.12.32.52.72.9

3.13.33.53.7

Claims

Total

53.055.162.573.383.8

93.1102.0113.9125.2132.1

130.8149.6165.6162.9159.7

164.7168.3176.4186.7200.0

Realestatedebt

6.66.56.46.05.4

4.94.84.95.15.3

5.66.16.77.37.8

8.39.19.9

10.511.2

Otherdebt

3.43.94.14.03.5

3.43.23.64.26.1

6.97.07.98.89.3

9.59.89.69.7

11.4

Pro-prie-tors'equi-ties

43.044.752.063.374.9

84.894.0

105.4115.9120.7

118.3136.5151.0146.8142.6

146.9149.4156.9166.5177.4

1 Includes all crops held on farms for whatever purpose and crops held off farms as security for CommodityCredit Corporation loans. The latter on January 1, 1958, totaled $700 million.2 Estimated valuation for 1940, plus purchases minus depreciation since then.3 Preliminary.4 Not available.

NOTE.—Detail will not necessarily add to totals because of rounding.Source: Department of Agriculture.

TABLE D-69.—Level-oj-living indicators Jos farm-operator families, selected years, 1920—56

Period

1920193019401945195019541956 4

Level-of-living indexes l

(U. S. average in 1945=100)

UnitedStates

7579

100122140145

North-east

102115138152167169

NorthCentral

104104128147161165

South

44496592

113119

West

93102127145163167

Percentage of all families reporting:./

Elec-tric-ity 2

3 7133348789394

Tele-phones

39342532384752

Auto-mobiles

31585862637174

Run-ningwater

10162229435964

Me-chan-ical

refrig-erators

153263

90

Tele-vision

33653

Homefreezers

123239

1 Indexes based on percent of farms with electricity, telephones, and automobiles and the average valueof products sold or traded in the year preceding the appropriate Census of Agriculture.

2 Differs in minor respects from series shown in Table D-70.3 Gas or electric lights.4 Based on Special Cooperative Survey of Farmers' Expenditures.Source: Department of Agriculture.

2l6


TABLE D—70.—Selected indicators of farming conditions, 1929-58

Period

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951 L19521953... -.1954

1955195619571958 9

Numberof farms(thou-sands)

6,512

6,5466,6086,6876,7416,776

6,8146,7396,6366,5276,441

6,3506,2936,2026,0896,003

5,9675.9265,8715,8035,722

5.6485,5355,4215,3085,201

5,0874,9694,8564,754

Averagevalue of

productionassets per

farm(dollars) 1

(8)

(8)(8)(8)

8(s)(8)

8(8)6,0946,3407,4498,934

10, 328

11,34612, 43514, 15415,90617, 144

16, 97920,43423, 20622, 94622, 592

23, 80625, 09627, 20329,600

Total invest-ment in farm

plant andequipment(millions of

dollars)

Gross

966

717408194189376

560756903685774

8721,1991,202

9181,488

1,5332,0353,2454,3164,492

4,5944,8254,6964,7854,230

4,2293,8574,0644,307

Net2

50

-238-448-540-455-274

-10428

107-148

-7

76325

-168-485

25

193811

1,6412,2572,064

1,8581,5991,2971,265

614

507116149301

Real estatedebt as

percent ofvalue of

real estate(percent)3

20.3

20.121.524.527.523.9

22.821.720.319.819.9

19.618.917.014.311.2

9.27.87.26.96.9

7.47.07.07.58.2

8.48.89.19.0

Fore-closurerate per

1,000farms «

15.7

18.728.438.828.021.0

20.318.114.313.412.5

10.46.14.33.01.9

1.51.1.0.2.4

.5

.6

.3

.72.0

2.32.01.7

(«)

Operators'net income

per farm(dollars) «

962

691437288410571

676762788655682

675978

1, 4231,9502, 035

2,1542,5692,9472,7672,410

2,3342,7392,6592,6192,346

2,2552,4372,2322,735

Farm in-come perworker

(dollars) «

593

456298203266360

423487519452475

484694995

1,3311,411

1,5151,7261,9371,8421.671

1,5981,8811,8821,8831,727

1,6981,9061,7622,126

Percent ofall farms

withcentralstation

electricalservice 7

(8)

(8)(8)(8)(8)(8)

10.912.315.819.122.1

30.434.938.340.342.2

45.754.361.068.678.2

77.284.288.190.892.3

93.494.294.895.4

1 Farm real estate less value of dwellings, crops held for feed, livestock, machinery and equipment less 60percent of the value of automobiles, and demand deposits used for production. Data are for January 1.

2 Gross investment less depreciation and other capital consumption.3 Data are for January 1.* Data are for year beginning March 15.s Including Government payments and excluding the net change in inventories.e Net income of farm operators including Government payments and excluding the net change in in-

ventories, plus farm wages of resident workers and other hired workers.7 Data are for June 30, except for the Census of Agriculture years: 1935 (January 1), 1940 (April 1), 1945

(January 1), and 1950 (April 1).8 Not available.9 Preliminary.


217


INTERNATIONAL TRANSACTIONS

TABLE D-71.—United States balance of payments, J952-58l


Type of transaction

United States payments' Total

Imports of goods and services: Total

Merchandise, adjusted, excludingmilitary

TransportationTravel - -Miscellaneous services, excluding

military -Military expendituresIncome on investments:

PrivateGovernment

Unilateral transfers, net, excludingmilitary Total _ -

Government grantsRemittances and other transfers

United States capital, net: Total

Private net' Total

Direct investments, netNew issuesRedemptions _ _ _ _ _Other long-term, netShort-term net

Government net' Total

Long-term capital, outflowRepaymentsShort-term, net _ -

United States receipts: Total

Exports of goods and services: Total

Merchandise, adjusted, excludingmilitary _ - _ . . _ _ - _ - _

TransportationTravelMiscellaneous servicesMilitary transactionsIncome on investments:

Direct investmentsOther privateGovernment -

Foreign long-term investments in theUnited States, net 2

Net United States payments ( — )

Increase in liquid dollar holdings byforeign countries and internationalinstitutions

United States gold sales or pur-chases (— )

Errors and omissions

July1952-Junc1956

(annualaver-age)

20 930

17, 157

11 1041,1491,029

6862 657

38587

2,397

1,795602

1,376

1 159

776255

-14358

213

217

522—474

169

18,980

18 685

13, 4371 303

606966167

1 705238263

295

— 1 950

1 242

416

292

19

Firsthalf

12 522

9,898

6 426707535

3581 572

23268

1 183

875308

1 441

1 100

630205

—94206153

341

294— 185

232

11, 581

11 299

8 36676931651491

1 000'l45

98

282

—941

899

-115

157

56

Secondhalf

13 226

9,912

6 365725740

4261 338

23286

1,149

820329

2,165

1 880

1,209252-75113381

285

240—294

339

12, 479

12 219

8 95585038954565

1 16015996

260

-747

403

-191

535

19

Firsthalf

14 194

10, 316

6 640711565

3631 725

21399

1,226

883343

2,652

2 203

1,395399

-70216263

449

258—360

551

13, 935

13 642

10 23998936460784

1 08517599

293

—259

308

-673

624

57

Secondhalf

12 994

10, 391

6 651717807

4801 395

239102

1,081

730351

1 522

1 008

677198

— 7916745

514

729—299

84

12 902

12 834

9 088858421661284

1 228188106

68

—92

-35

-125

252

19

Firsthalf

13 379

10, 061

6 313728621

3821 733

21965

1 143

805338

2 175

1 714

578721

—40207248

401

494—338

305

11 508

11 494

8 239'792364605159

1 027195113

14

—1 871

183

1 445

243

58

Thirdquarter

6 58 r>

5, 258

3 116408586

248757

11132

548

367181

779

441

16446

— 1014893

338

334— 110

114

5 533

5 533

3 79541625632249

5419955

— 1 052

394

483

175

1 Excludes transfers of goods and services under military grant programs.2 Excludes investment in U. S. Government securities.


2l8


TABLE D-72.—United States balance of payments with individual areas, 1952-58l


Area and type of transaction

Western Europe:United States payments: Total

Imports of nonmilitary goodsMilitary expenditures _

FranceGermany _United Kingdom

Other servicesRemittances and other transfers, net.Government grants and capital, net..

Greece, Spain, Turkey, andYugoslavia - - .

Private capital, net outflow

Direct investmentsOther long-term - --Short-term

United States receipts- Total

Exports of nonmilitary goodsIncome on investments abroad:

Government -_ -Private

Other services and military trans-actions

Foreign long-term investments in theUnited States net 3

Net U n i t e d S t a t e s r e c e i p t s orpayments ( — ) - -

Canada:United States payments: Total

Imports of nonmilitary goodsMilitary expenditures.Other servicesRemittances and other transfers, net.Government capital netPrivate capital, net outflow

Direct investmentsOther long-term _ .._ _ ._Short-term


Exports of nonmilitary goodsIncome on investments:

Government _ - _Private

Other services and military trans-actions. .. . - _ - .


Net U n i t e d S ta tes r ece ip t s orpayments (— )

July1952-June1956

(annualaver-age)

6 630

2 2901 429

487258308

1,587264911

301

149

84-28

93

5 376

3 687

203244

1 033

209

—1 254

3, 693

2 522206524

122

431

3822524

4,268

3,218

384

619

47

575

19f

Firsthalf

4 005

1 430'976

289167267

933148343

261

175

1105213

3 459

2 481

61159

598

170

—536

2,189

1 392121220

6—5455

269191—5

2,683

2 068

212

315

88

494

>6

Secondhalf

4 120

1 518700

154175168

1 002152181

174

567

34663

158

3 974

2 864

64186

647

213

—146

2,554

1 521138377

6

512

27520433

2,685

2,046

275

359

5

131

19,

Firsthalf

4 399

1 5391 049

233246317

937146372

302

356

15790

109

4 516

3 282

57171

754

252

117

2,438

1 421'l36228

71

645

416273

-44

2,755

2, 142

256

347

10

317

57

Secondhalf

3 896

1 552747

159207170

1 063166316

89

52

97—34— 11

3 875

2 656

67216

878

58

—21

2,356

1 519'l52386

71

291

1689132

2,515

1,872

284

368

-9

159

19v

Firsthalf

4 052

1 5121 004

211325213

971150233

179

182

83110

— 11

3 348

2 349

62215

718

4

— 704

2,273

1 279186227

6_1576

14533992

2,310

1.763

229

325

-7

37

58

Thirdquarter

2 160

803396

(%}(2)

75

6369287

84

146

344567

1 561

1 078

3294

356

1

—599

1 255

70490

2654

192

114717

1,183

850

133

207

-7

-72


219


TABLE D-72.—United States balance of payments with individual areas., 1952-58 l—Continued



Latin America:United States payments' Total

Imports of nonmilitary goods _Military expendituresOther servicesRemittances and other transfers, net--Government grants and capital, net—Private capital outflow, net

Direct investmentsOil concession payments to

Venezuela - - _Other long-termShort-term

United States receipts' Total

Exports of nonmilitary goods -..Income on investments:

Government - -Private

Other services and military trans-actions - - -- .


Net United States receipts orpayments ( — )

Other countries'.United States payments: Total

Imports of nonmilitary goodsJapan

Military expenditures..Japan

Other services. ... . . _ ....Remittances and other transfers, net..Government grants and capital, net, .

Cambodia, Laos, Vietnam, Ko-rea, and China (Taiwan)

JapanIndiaPakistan .

Private capital, net outflow . . . .

Direct investmentsOther long-termShort-term


Exports of nonmilitary goods

Japan

Income on investments:GovernmentPrivate _ . _ - - . .

Other services and military transac-tions


Net United States receipts orpavments ( — ) _

July1952-June1956

annualaver-age)

4 844

3, 57225

77837

179253

153

7129

4 722

3,272

29662

739

20

-122

5,598

2,780341

997613

406289849

435406564

277

1565566

4,526

3,240

663

31640

605

10

-1,072

19,

Firsthalf

2 801

1,98213

4622091

233

141

1775

2 698

1,864

17416

392

9

—103

3,461

1,622263

462246

276134748

376604981

219

1103970

2,684

1,938

378

20351

363

12

-777

56

Secondhalf

3 030

1,79314

5232087

593

471

2233884

2 917

1,966

17468

442

24

-113

3,428

1,533295

486238

269151751

349666975

238

11715

106

2,854

2,069

521

15382

379

9

-574

19^

Firsthalf

3 434

2,00718

4732794

815

704

2673477

3 229

2,238

20502

455

14

—205

3,710

1,673273

522224

294163821

475—57159

237

118—1120

3,381

2,564

721

22322

463

10

-329

>7

Secondhalf

3 240

1,92217

51324

163601

400

9011190

3 365

2,390

20473

477

5

125

3,340

1,658328

479221

324154720

30453

11547

5

1258

-65

3,097

2,157

510

19436

476

9

-243

19,

Firsthalf

2 966

1,91726

47022

163368

301

-1481

2 947

2,098

22395

434

—2

-19

3,705

1,605302

517205

325160845

401— 1511379

253

4911886

2,851

2,016

443

29371

421

14

-854

58

Thirdquarter

1 422

85013

27110

24632

—4

1917

1 451

989

10216

242

-6

29

1,668

759177

258(2)

17075

364

1434

4834

42

20202

1,311

872

184

13189

227

10

-357


220


TABIE D-72.—United States balance of payments with individual areas, 1952-58 1—Continued



International Institutions:United States payments: Total

Government grants and capital, net..Private capital, net outflowOther payments


Exports of nonmilitary goodsIncome on investments:

Government _ . _ . _ _Private

Other services - -Foreign long-term investments in

the United States, net 3

Net Uni ted States receipts orpayments (— ) . _ _ _ _ . _ .

Addendum: Total sterling area:United States payments: Total .

Imports of nonmilitary goodsMilitarv expenditures _ . .. .Other servicesRemittances and other transfers, net.Government grants and capital, net .

United Kingdom

Private capital, net outflow

Direct investmentsUnited Kingdom ._ _ ,

O ther long-term . _ . _Short-term


Exports of nonmilitarv goods. Income on investments:

Government.. . ... ...Private

Other services and military transac-tions


Net Un i t ed States rece ip t s orpayments (— ) . . ... ... _ _

July1952-June1956

(annualaver-age)

164

744842

89

20

1446

9

-75

3,431

1,71939976795

332

143

119

86228

25

3,019

1 856

104381

584

94

-412

19

Firsthalf

66

39189

47

15

722

3

-19

2,121

1,00632945149

177

11

109

934844

-28

1,749

1,108

13228

310

90

-372

56

Secondhalf

94

86-30

38

49

10

g22

9

—45

2,196

994239456

48116

—54

343

2402138221

1,961

1 240

13280

338

90

-235

19

Firsthalf

213

4415019

54

13

925

7

— 159

2.412

1 094406453

56169

— 1

234

126894068

2,176

1 445

14225

380

112

-236

57

Secondhalf

162

445959

50

13

725

5

— 112

2,326

1 068264496

57430

245

11

7668

-16-49

2,054

1 341

17302

383

11

-272

19

Firsthalf

383

2633522

52

13

1222

5

-331

2,292

1,05032648256

237

10

141

88403815

1,815

1,148

24277

355

11

-477

58

Thirdquarter

80

82943

27

6

g11

2

-53

1,100

48812326927

109

— 1

84

26-32929

851

525

4127

197

—2

-249

1 Excludes transfers of goods and services under military grant programs.2 Not available.3 Excludes investment in U. S. Government securities.


221


TABLE D—73.—United States exports by selected commodities and markets, 1956-58

[Millions of dollars, annual rates]

Commodity and period

Total exports, excluding "special cate-gory": 2

1956: First half1957- First half1958: First half

Six main groups in the decline:1956: First half1957: First half1958: First half

Crude petroleum and related fuels:1956: First half _ ._1957- First half1958: First half

Cotton, raw, including linters:1956: First half .. ._1957- First half1958: First half

Wheat:1956: First half1957- First half1958: First half .

Coal and related fuels:1956: First half1957- First half1958: First half _

Iron and steel-mill products, scrap,nonferrous metals and ferro-alloys:

1956: First half1957- First half1958: First half

Automobiles, parts, and acces-sories:

1956: First half1957: First half1958: First half _ .

Other exports:1956: First half1957- First half1958: First half _ _ . . . .

Machinery, all types:1956: First half1957- First half1958: First half

Chemicals and related products: «_1956: First half _- _ . .1957: First half1958- First half

Textile manufactures: 4

1956: First half _1957: First half. _ _1958' First half

All other exports:1956- First half1957: First half..1958: First half

Total, allcountries

16,29419,98416,064

5,0297,3864,394

214796179

4841,278

856

669910575

630854526

1,5262,0881,058

1,5061,4601,200

11, 26512, 59811, 670

3,6124,0503,832

1,2441,4081,348

632698630

5,7776,4425,860

Main countries accounting for declinefrom first half 1957 to first half 1958

Total

9,38311, 6668,592

3,2294,9712,648

108609106

3961,070

678

327420236

594798498

1,1281,528

694

676546436

6,1546,6955,944

1,8922,0721,808

620710688

254294248

3,3883,6193,200

WesternEurope ]

4,5896,0404,278

1,6122,8381,468

2948137

198750470

281347149

376556354

576608378

1529680

2,9773,2022,810

608664602

292354366

10613498

1,9712,0501,744

Canada

4,0364,1843,428

1,1911,185

807

617337

125246

(3)(3)

190194108

408428264

520438352

2,8452,9992,621

1,2101,2781,018

252254246

148156150

1,2351,3111,207

Japan

7581,442

886

426948373

185532

186268162

467387

284836

14449252

4124

332494513

74130188

7610276

(3)4

(3)

182258249

All othercountries

6,9118,3187,472

1,8002,4151,746

10618773

88208178

342490339

365628

398560364

830914764

5,1115,9035,726

1,7201,9782,024

624698660

378404382

2,3892,8232,660

i Excludes Greece and Turkey.2"Special category" includes those commodities for which detailed statistics are withheld for security

reasons. The data for the first half of 1956 include estimates for commodities declassified in a revision of"special category" coverage in 1957.

3 Less than $500,000.4 Includes semimanufactures as well as finished products except those for Japan which include finished

manufactures only.Source: Department of Commerce.

222


TABLE D-74—World exports, 1956-58

[Millions of dollars, annual rates]

^\^^ Exports to

Exports from ^\^

World:1956: First halfChange, first half:

1956-19571957-1958.

United States:1956- First halfChange, first half:

1956-19571957-1958

United Kingdom, Iceland,and Ireland:

1956: First halfChange, first half:

1956-19571957-1958

Continental WesternEurope:

1956: First halfChange, first half:

1956-19571957-1958

Canada:1956- First halfChange, first half:

1956-19571957-1958

Japan:1956- First halfChange, first half:

1956-19571957-1958

Outer sterling area:1956- First halfChange, first half:

1956-19571957-1958

Latin America:1956: First halfChange, first half:

1956-19571957-1958

All other countries:1956: First half.Change, first half:

1956-19571957-1958

World i

2 91, 349

2 10, 1132-6,363

2 16, 728

2 3, 7422—3,844

9,690

566-462

25, 906

3,569-484

4,633

23923

2,320

335127

12, 266

533-928

8, 568

240-819

11,238

88924

UnitedStates

12, 378

118-261

694

6239

1,876

190-29

2,781

146-98

501

2675

1,166

—63

4, 045

-254-225

1,315

-46-26

UnitedKing-dom,

Iceland,and Ire-

land

10, 047

395-507

3 842

33383 —393

571

2151

2,351

-2313

756

-3345

86

-249

3,728

—51-238

668

206-134

1,045

-39140

Conti-nental

WesternEurope

27, 755

4,007-2, 583

33 479

3 1 1163—1 321

2,388

315-352

12,690

2,013-557

411

10460

132

76-15

2,548

— 57-62

1,671

203-268

4,436

237-68

Canada

5,392

208-780

4 167

144—769

523

181

241

29-11

65

— 54

212

9-32

95

217

89

Q

34

Japani

2,472

1 207-1,101

3 755

36803 —555

61

50— 55

128

129—77

112

24-35

656

276-324

224

32-33

536

16-22

Outersterling

area

11, 584

1 120-321

3 1 242

33223 —169

3 856

111-125

1.800

22076

259

— 1883

606

76-55

2,217

171-207

104

18-5

1,500

22081

LatinAmer-

ica

7, 161

1 314-371

3 754

784— 260

397

47— 10

1,465

28866

163

74-45

174

—4054

114

95(4)

597

136-76

497

-70-100

Allothercoun-tries

13 159

1 442—387

3 2 1133341

3 —427

1 146

-82— 1

5,058

676114

150

— 5913

551

12261

1 347

— 14—65

1,089

-68-100

1,705

52618

1 Totals for each exporting area include amounts for which destinations are not specified in sources, andtherefore exceed sums of destination details.

2 Excludes U. S. military aid exports.3 Excludes U. S. "special category" shipments for which destination details are withheld on security

grounds. Figures for 1956 and for 1956-57 changes are based upon the "special category" coverage in effectuntil mid-1957, while 1957-58 changes are computed from revised data reflecting the more limited "specialcategory" coverage subsequently in effect.

4 Less than $500,000.NOTE.—Data exclude exports of U. S. S. R. and Soviet bloc countries to each other.Detail will not necessarily add to totals because of rounding.Sources: United Nations and Department of Commerce.

223


TABLE D—75.—Estimated gold reserves and dollar holdings of foreign countries and internationalinstitutions, 1952 and 1956-58

[Millions of dollars; end of period]

Area and country

Total

Continental Western Europe

AustriaBelgium-Luxembourg (and

Belgian Congo)France (and dependencies) - .Germany .-. ._ -ItalyNetherlands (and Nether-

lands West Indies andSurinam)

Scandinavian countr ies(Sweden, Norway, Den-mark, and Finland)

Other

Sterling area ,

United Kingdom. _Other.

Canada .-

Latin America

ArgentinaBrazilChileColombia . ._ _ ...CubaMexicoPeru . ._•VenezuelaOther

Asia

JapanOther

All other countries..-

International institutions

1952

24, 451

8,651

149

1,0271,141

691665

824

6063,548

3,473

2,514959

2,627

3,432

428392121194543380107521746

2,376

9311,445

345

3,547

19

Sept.

32, 933

14,429

358

1,2771,6383,1121,288

1,136

8374,783

4,160

3,0861,074

2,899

4,158

399583152180574565117811111

2,810

1, 1901,620

368

4,109

56

Dec.

32, 621

14, 433

377

1,2391,5123,3431,270

1,080

8824,730

4,157

3,0151,142

2,996

4,313

370550138210514604119

1,061747

2,812

1, 1491,663

375

3,535

19

Sept.

32, 299

14, 756

432

1,1731,0134,0771,460

983

9694,649

3,847

2,6871,160

3,229

4,752

31345811824458355696

1,617767

2,399

7001,699

415

2,901

57

Dec.

32, 712

15, 074

460

1,190955

4,1131,533

1,058

9804,785

4,243

3,0801,163

3,195

4,544

26345711621552556988

1,556755

2,340

7161,624

397

2,919

Mar.

33, 397

15, 251

465

1,266921

3,9831,530

1,274

9834,829

4,851

3,7011,150

3,163

4,415

27044111820051753982

1,430818

2,404

8351,569

394

2,919

1958

June

34, 704

15, 786

473

1,400916

4,0521,682

1,302

9405,021

5,135

4,0301,105

3,432

4,383

26645112719250348893

1,462801

2,475

9331,542

351

3,142

Sept.

35,708

16, 892

561

1,4771,0304,3401 876

1,402

1,0425 164

5,206

4,0671,139

3,378

4,144

24445912520749552392

1,235764

2,499

1 0121,487

337

3,252

NOTE.—Includes gold reserves and dollar holdings of all foreign countries with the exception of goldreserves of U. S. S. R. and other Eastern European countries, and of international institutions (InternationalBank for Reconstruction and Development, International Monetary Fund, United Nations and others).Holdings of the Bank for International Settlements (both for its own and EPU account) and of the Tripar-tite Commission for Restitution of Monetary Gold are included under "other" Continental WesternEurope.

Source: Board of Governors of the Federal Reserve System.

224


TABLE D-76.—Price changes in international trade, 1955—58

[1953=100]!

Trade sector

United States foreign trade: 2

Exports: TotalFoodstuffsIndustrial materialsFinished manufactures _ _ _ _ _. _

Imports for consumption: TotalFoodstuffs _ _ _Industrial materialsFinished manufactures

World trade: 3

Industrial countries' ExportsOther countries: Exports _

Commodity classes:

Manufactured goods 5

Nonferrous base metals 5

Primary commodities 6

Foodstuffs 6

Other agricultural commodities 6- _Wool e

Minerals 6

Metal ores 6 -Crude petroleum 6

1955

10089

104100

10210110498

99100

99119

10096

10284

102103104

19

Firstquar-ter

10488

111104

10497

109100

10299

102134

9994

10080

107111104

56

Thirdquar-ter

10488

108105

104100107100

10298

103117

10198

10088

108108104

19

Firstquar-ter

10892

111110

106101112101

105101

106110

10610010599

119112107

57

Thirdquar-ter

10789

107112

10599

108102

105100

10796

10297

10296

111105112

Firstquar-ter

10789

103114

10299

103101

10495

10885

97939477

10999

112

1958

Secondquar-ter

10691

101112

10097

101101

10394

10786

96949169

10999

112

Thirdquar-ter

10689

100112

9996

100100

(4)(4)

10790

96959065

10899

112

1 Data shown for United States foreign trade and for country groups and for manufactured goods in theworld trade section of the table are unit value indexes. All others are price indexes.

For description of world trade indexes by commodity classes, see "Methods in Compiling the UnitedNations Price Indexes for Basic Commodities in International Trade," Statistical Paper, Series M, No.29, United Nations, New York.

2 The series shown for foodstuffs is the weighted average of the two commodity classes, crude foodstuffsand manufactured foodstuffs. The series shown for industrial materials is the weighted average of thetwo commodity classes, crude materials and semimanufactures.

3 Excludes trade of U. S. S. R. and Soviet bloc countries.4 Not available,s Exports.e Exports and imports.

Sources: Department of Commerce and United Nations.

225U. S. GOVERNMENT PRINTING OFFICE: 1959 O—489916


erp1959 appendixes 4

Documents