erp1966 appendixes 3

Appendix C

STATISTICAL TABLES RELATING TO INCOME,EMPLOYMENT, AND PRODUCTION

203

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

CONTENTSNational income or expenditure: Page

C-l. Gross national product or expenditure, 1929-65 209C-2. Gross national product or expenditure, in 1958 prices, 1929-65 210C-3. Gross national product by major type of product, 1929-65 212C-4. Gross national product by major type of product, in 1958 prices,

1929-65 213C-5. Implicit price deflators for gross national product, 1929—65 214C-6. Gross national product: Receipts and expenditures by major economic

groups, 1929-65 216C-7. Gross private and government product, in current and 1958 prices,

1929-65 218G-8. Personal consumption expenditures, 1929-65 219C-9. Gross private domestic investment, 1929-65 220C-10. National income by type of income, 1929-65 221C-l l . Relation of gross national product and national income, 1929-65 . . . . 222C-l 2. Relation of national income and personal income, 1929-65 223C-13. Sources of personal income, 1929-65 224C-l 4. Disposition of personal income, 1929-65 226C-l 5. Total and per capita disposable personal income and personal con-

sumption expenditures, in current and 1958 prices, 1929-65 227C-l 6. Number and money income of families and unrelated individuals,

1947-64 228C-l 7. Financial saving by individuals, 1939-65 229C-l8. Sources and uses of gross saving, 1929-65 230

Population, employment, wages, and productivity:C-l9. Population by age groups: Estimates, 1929-65, and projections,

1970-85 231C-20. Noninstitutional population and the labor force, 1929-65 232C-21. Civilian employment and unemployment, by sex and age, 1947—65. . 234C-22. Selected unemployment rates, 1948-65 235C-23. Unemployment by duration, 1947-65 236C—24. Unemployment insurance programs, selected data, 1940-65 237C-25. Number of wage and salary workers in nonagricultural establishments,

1929-65 238C-26. Average weekly hours of work in selected industries, 1929—65 240C-27. Average gross hourly earnings in selected industries, 1929-65 241C-28. Average gross weekly earnings in selected industries, 1929-65 242C-29. Average weekly hours and hourly earnings, gross and excluding over-

time, in manufacturing industries, 1939—65 243C-30. Average weekly earnings, gross and spendable, in manufacturing

industries, in current and 1957-59 prices, 1939-65 244C-31. Indexes of output per man-hour and related data, 1947-65 245

Production and business activity:C-32. Industrial production indexes, industry groupings, 1947-65 246C-33. Industrial production indexes, market groupings, 1947-65 248C-34. Manufacturing capacity, output, and utilization rate, 1948-65 249C-35. New construction activity, 1929-65 250C-36. Business expenditures for new plant and equipment, 1939 and 1945-

66 251

2057195-983 O—618——14


Production and business activity—Continued Page

C—37. New housing starts and applications for financing, 1929-65 252C—38. Sales and inventories in manufacturing and trade, 1947-65 254C-39. Manufacturers' shipments and inventories, 1947-65 255C-40. Manufacturers' new and unfilled orders, 1947-65 256

Prices:

G-41. Wholesale price indexes, by major commodity groups, 1929-65 257C-42. Wholesale price indexes, by stage of processing, 1947-65 259G-43. Consumer price indexes, by major groups, 1929-65 261C-44. Consumer price indexes, by special groups, 1935-65 . 262

Money supply, credit, and finance:

C-45. Money supply, 1947-65 263C-46. Selected liquid assets held by the public, 1946-65 264C-47. Bank loans and investments, 1929-65 265C-48. Bond yields and interest rates, 1929-65 266C-49. Federal Reserve Bank credit and member bank reserves, 1929-65. . . 268C-50. Short- and intermediate-term consumer credit outstanding, 1929-65. . 269C-51. Instalment credit extended and repaid, 1946-65 270C-52. Mortgage debt outstanding, by type of property and of financing,

1939-65 271C-53. Net public and private debt, 1929-65 272

Government finance:

C-54. U.S. Government debt, by kind of obligation, 1929-65 273G-55. Estimated ownership of U.S. Government obligations, 1939-65 274C-56. Average length and maturity distribution of marketable interest-bear-

ing public debt, 1946-65 275C-57. Federal administrative budget receipts by source and expenditures by

function, fiscal years 1939-67 276C— 58. Federal administrative budget receipts and expenditures and the

public debt, 1929-67 278C-59. Government cash receipts from and payments to the public, 1946-67 . 279C—60. Government receipts and expenditures in the national income ac-

counts, 1929-65 280C-61. Federal Government receipts and expenditures in the national income

accounts, 1946-67 281C—62. Reconciliation of Federal Government receipts and expenditures in

the administrative budget and the consolidated cash statement withreceipts and expenditures in the national income accounts, fiscalyears 1963-67 282

G-63. State and local government revenues and expenditures, selected fiscalyears, 1927-64 283

Corporate profits and finance:

C-64. Profits before and after taxes, all private corporations, 1929-65 284C—65. Relation of profits after taxes to stockholders' equity and to sales,

private manufacturing corporations, by industry group, 1958-65. . . 285C-66. Sources and uses of funds, nonfarm nonfinancial corporate business,

1954-65 287C-67. Current assets and liabilities of United States corporations, 1939-65. . 288C-68. State and municipal and corporate securities offered, 1934-65 289C-69. Common stock prices, earnings, and yields, and stock market credit,

1939-65 290C-70. Business population and business failures, 1929-65 291

206


Agriculture: Page

C-71. Income from agriculture, 1929-65 292G-72. Farm production indexes, 1929-65 293G—73. Indexes of prices received and prices paid by farmers, and parity ratio,

1929-65 294C-74. Selected measures of farm resources and inputs, 1929-65 296C-75. Farm population, employment, and productivity, 1929-65 297G-76. Comparative balance sheet of agriculture, 1929-66 298

I nternational statistics:

G-77. United States merchandise exports and imports, by commodity groups,1957-65 299

C-78. United States balance of payments, 1947-65 300G-79. United States merchandise exports and imports, by area, 1957-65 . . . 302C-80. United States foreign assistance, by type and area, fiscal years 1946-65 . 303G-81. International reserves, 1949, 1953, and 1960-65 304G-82. United States gold stock and holdings of convertible foreign currencies

by U. S. monetary authorities, 1949-65 305C-83. Price changes in international trade, 1957-65 306

Note.—Detail in these tables will not necessarily add to totals because ofrounding.

Data for Alaska and Hawaii are not included unless specifically noted.Unless otherwise noted, all dollar figures are in current prices.

207


NATIONAL INCOME OR EXPENDITURETABLE G-l.—Gross national product or expenditure, 1929-65

[BiUions of dollars]

Year orquarter

Totalgrossna-ionalrod-uct

1929-.

1930..1931..1932..1933..1934..1935..1936..1937..1938..1939-.

1940..1941..1942..1943..1944..1945..1946..1947..1948..1949.

1950-.1951..1952..1953.1954.1955.1956.1957.1958.1959.

1960.1961.1962,1963.1964.1965 8

1963: II I . . .I I I . .IV...

1964: I . . . .I I . . .I I I . .IV...

1965: I_...I I . . .I II . .IV 6.

Per-sonalcon-

sump-tionex-

pendi-tures

103.1

90.475.858.055.665.172.282.90.484.790.599.7

124.5157.9191.6210.1212.0208.5231.3257.6256.5284.8328.4345.5364.6364.8398.0419.2441.1447.3483.6503.8520.1560.3589.2628.7675.6

Total

577.0583.1593.1603.6614.0624.2634.8641.1

657.6668.8681.5694.6

77.2

60.548.645.851.355.761.966.563.966.8

70.880.688.599.108.119.143.4160.173.6176.8

191.0206.3216.7230.0236.5254.4266.7281.290.311.325.335.355.1373.8398.9428.5

Gross private domestic investment *

Total

16.2

10.35.61.01.43.36.48.5

11.86.59.3

13.117.99.85.77.1

10.630.634.046.035.754.159.351.952.651.767.470.067.860.975.74.871.83.086.992.9

104.9

Fixed investment

14.5

10.66.83.43.04.15.37.29.27.48.9

11.013.48.16.48.1

11.724.234.441.338.847.349.048.852.153.361.465.366.562.470.571.369.77.081.288.197.

Nonresidential

10.6

8.35.02.72.43.24.15.67.35.45.9

7.59.56.05.06.8

10.217.023.426.925.127.931.831.634.233.638.143.746.441.645.148.447.051.54.360.569.8

5.0

4.02.31.2.9

1.01.21.62.41.92.0

2.32.91.91.31.82.96.87.5

11.211.412.713.114.317.18.016.616.18.118.419.219.21.124.3

5.6

4.32.71.51.2.22.94.04.93.54.05.36.64.13.5.07.3

10.15.918.116.618.20.20.221.520.623.826.528.425.028.430.328.632.534.639.445.5

4.0

2.31.7.7.6.9

1.21.61.92.02.9

3.43.92.11.41.31.57.2

11.114.413.19.417.17.18.019.723.321.620.220.825.522.822.625.26.927.527.6

Netex-

portsof

goodsandserv-

1.7

- . 4- 1 . 1- 2 . 5- 1 .- . 71.11.32.5

- . 9.4

2.24.51.8

- . 6- 1 . 0- 1 . 0

6.4- . 54.7

- 3 . 16.8

10.33.1.4

- 1 . 56.04.1.3

- 1 . 54.83.62.06.05.4.87.4

Total

1.1

1.0.5.4.4.6.1.1.311.1

1.71.3

-2.0-1.-.6T.I11.6.46.1

1.83.72..41.82.04.05.2.2.1

4.15.65.15.98.67.

Governmentrernment purchasegoods and services

shases of

8.5

9.29.28.18.09.8

10.012.011.913.013.3

14.024.859.688.696.582.327.025.131.637.837.959.174.781.674.874.278.686.194.297.099.6

107.6117.1122.6128.41135.0l

Federa

1.3

1.41.51.52.03.02.94.94.75.45.1

6.0

53.5

16.913.851.9 49. 481.1 79. 789. 0 87. 474. 2 73. 517. 2 14. 712.516. 510. 720.113. 318. 4 14.137. 7 33.651. 8 45. 957.0 48. 747.4 41.244.1 38. 645. 6 40.349. 5 44. 253.6 45.953.7 46.0

1.3

1.41.51.52.03.02.94.94.75.4

1.2 3.92.2

44.957. 4 47.863.4 51. 664. 4 50. 865. 3 49. 966. 7 49.9

3.12.51.41.6.7

2.53.55.86.84.34.15.98.46.25.55.35.37.77.68.69.6

11.813.615.416.8

Stateandlocal

7.2

7.87.76.66.06.87.17.07.27.68.28.07.97.77.47.58.19.8

12.615.017.719.521.522.924.627.430.133.036.640.643.346.150.253.758.363,168.2

Seasonally adjusted annual rates

368.0371.1376.6379.5389.1396.0404.6405.9416.9424.5432.5440.1

82.684.887.992.489.790.992.697.7

103.4102.8106.2107.5

78.180.182.184.386.586.888.890.294.696.498.6

100.5

52.153.455.156.558.158.961.663.566.968.470.973.2

19.019.220.020.520.721.121.121.523.224.524.225.4

33.134.235.136.037.537.940.542.043.743.946.747.8

26.026.726.927.928.427.927.226.727.728.027.727.2

4.54.75.88.1

3.34.13.87.5

8.86.47.67.0

4.56.25.77.3

8.87.78.88.9

6.08.07.47.4

121.9120.9123.0124.3126.3129.7128.7128.6131.3133.5135.4139.6

65.463.664.264.465.067.064.964.364.965.766.569.7

51.550.551.050.349.851.749.548.848.849.249.852.0

13.913.113.214.115.215.315.415.516.116.516.717.7

56.557.458.859.961.362.763.864.366.467.868.9

1 See Table C-8 for major components.2 See Table C-9 for further detail and explanation of components.3 See Table C-6 for exports and imports separately.4 This category corresponds closely to the national defense classification in the Budget of the United States

Government for the Fiscal Year ending June SO, 1967.6 Less than $50 million.6 Preliminary estimates.

NOTE.—Data for Alaska and Hawaii included beginning 1960.

Source: Department of Commerce, Office of Business Economics.

209


T A B L E G-2.—Gross national product or expenditure, in 1958 prices, 1929-65

[Billions of doliars, 1958 prices]

Year orquarter

Totalgrossna-

tionalpro-duct

Personal consumptionexpenditures

TotalDura-

blegoods

Non-dura-ble

goods

Serv-ices

Gross private domestic investment

Total

Fixed investment

TotalTotal

Nonresidential

Struc-tures

Pro-ducers'durableequip-ment

Resi-dentialstruc-tures

Changein busi-

nessinven-tories

1929

1930193119321933 _.19341935193619371938 -1939

19401941194219431944 __19451946194719481949

1950195119521953195419551956 _.19571958_ ___1959

I960.19611962196319641965 3

1963: II I . . . .III. . .IV. _.

1964: II I —III—IV...

1965: II I - . .III.__IV 3__

203.6

183.3169.2144,1141.5154.3169.8193.0203.3193.0209.4

227.2263.7297.8337.2361.3355.4312.6309.9323.7324.1

355.3383.4395.1412.8407.0438.0446.1452.5447.3475.9

487.8497.3530.0550.0577.6609.0

139.6

130.4126.1114.8112.8118.1125.5138.4143.1140.2148.2

155.7165.4161.4165.8171.4183.0203.5206.3210.8216.5

230.5232.8239.4250.8255 7274.2281.4288.2290.1307.3

316.2322.6338.6352.4372.1394.1

16.3

12.911.28.48.39.4

11.714.515.112.214.5

16.719.111.710.29.4

10.620.524.726.328.4

34.731.530.835.335.443.241.041.537.943.7

44.943.949.253.258.565.4

69.3

65.965.660.458.662.565.973.476.077.181.2

84.689.991.393.797.3

104.7110.8108.3108.7110.5

114.0116.5120.8124.4125.5131.7136.2138.7140.2146.9

149.7153.1158.4161.8169.4177.0

54.0

51.549.445.946.046.147.950.552.050.952.5

54.456.358.561.864.767.772.173.475.877.6

81.884.887.891.194.899.3

104.1108.0112.0116.8

121.6125.6131.1137.3144.2151.6

40.4

27.316.64.65.39.4

18.024.130.017.024.7

33.041.621.412.814.019.852.351.560.448.0

69.370.060.561.259.475.474.368.860.973.6

72.469.079.482.386.396.1

36.8

27.919.110.89.6

12.015.620.924.519.423.5

28.132.017.313.015.922.742.351.755.951.9

61.059.057.260.261.469.069.567.662.4

68.967.073.476.681.7

26.5

21.613.98.17.69.2

11.615.818.913.715.3

18.822.212.510.113.519.930.236.238.034.5

37.539.638.340.739.643.947.347.441.644.1

47.145.549.751.957.165.0

13.9

11.77.44.33.33.64.15,57.15.65.9

6.78.14.62.93.85.9

12.511.612.311.9

12.714.113.714.915.216.218.518.216.616.2

17.417.417.918.018.921.2

12.6

6.63.84.35.67.5

10.311.88.19.4

12.114.27.97.29.6

14.117.724.625.722.6

24.825.524.625.824.527.728.829.125.027.9

29.628.131.733.838.343.8


10.4

6.35.12.72.12.94.05.15.65.78.2

9.29.84.92.92.52.8

12.115.417.917.4

23.519.518.919.621.725.122.220!220.824.7

21.921.623.824.724.623.9

541.2544.9553.7560.0

567.1575.9582.6584.7

597.7603.5613.0621.7

348.3350.0355.1356.4

364.5369.8377.3376.8

386.1390.5396.9402.8

52.052.354.154.7

57.058.760.257.9

64.563.466.467.4

161.0161.2163.0162.1

166.4167.8171.6171.8

173.2176.4177.8180.8

135.3136.5138.0139.6

141.1143.3145.5147.1

148.4150.7152.7154.7

78.780.583.086.9

83.885.286.090.2

95,494.296.997.8

74.275.877.279.0

80.780.782.283.1

86.888.189.791.0

50.051.252.653.7

55.155.758.159.6

62.563.766.067.9

17.617.618.318.6

18.718.918.819.0

20.321.421.022.0

32.433.534.335.1

36.436.839.340.6

42.242.345.045.9

24.2 124.624.625.3

25.725.024.123.6

24.324.423.723.1

3.5

- . 6-2 .4-6 .2- 4 . 3- 2 . 7

2.43.15.5

-2 .41.2

4.99.64.0

2-1 .9- 2 . 910.0- . 24.6

8.310.93.3

.9-2 .0

6.44.81.2

- 1 . 54.8

3.52.06.05.74.67.2

4.44.65.87.9

3.04.53.87.1

8.66.27.2

See footnotes at end of table.

210


TABIE C-2.—Gross national product or expenditure, in 1958 prices, 1929-65—Continued

[Billions of dollars, 1958 prices]

Year or quarter

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 _1958.1959.

I960.1961.1962.1963.1964.1965 3

1963: I —II.IIIIV

1964: I—II.IIIIV

1965: I—II.IIIIV

Net exports of goods and services

Netexports

1.5

1.4

().3

-1 .0-1 .2- . 71.91.3

2.1.4

-2 .1-5 .9-5.8-3 .8

8.412.36.16.4

2.75.33.01.13.03.25.06.22.2.3

4.35.14.55.68.56.0

4.05.85.57.1

9.08.18.78.3

5.16.66.26.1

Exports

11.8

10.48.97.17.17.37.78.29.89.9

10.0

11.011.27.86.87.6

10.219.622.618.118.1

16.319.318.217.818.820.924.226.223.123.8

27.328.030.032.236.537.3

Imports

10.3

9.07.96.67.17.18.79.3

10.58.08.7

10.89.9

12.613.413.911.210.312.011.7

13.614.115.216.715.817.719.119.920.923.5

23.022.925.526.527.931.3

Government purchases of goods andservices

Total

22.0

24.325.424.223.326.627.031.830.833.935.2

36.456.3

117.1164.4181.7156.448.439.946.353.3

52.875.492.199.888.985.285.389.394.294.7

94.9100.5107.5109.8110.7112.8

Federal *

I

3.5

4.04.34.66.08.07.9

12.211.513.312.5

15.036.298.9

147.8165.4139.730.119.123.727.6

25.347.463.870.056.850.749.751.753.652.5

51.454.660.059.757.857,2

State andlocal


29.632.232.534.3

36.035.736.837.3

32.938.538.339.5

25.726.427.027.2

27.027.628.129.0

27.831.932.133.4

110.3108.7110.0109.6

109.9112.8110.5109.4

111.2112.1113.0114.9

61.359.259.758.7

58.259.957.156.1

56.456.857.058.6

18.5

20.221.119.617.318.619.219.619.420.622.7

21.420.118.316.616.316.718.420.822.725.7

27.527.928.429.732.134.435.637.640.642.2

43.545.947.550.052.855.6

49.149.550.350.8

51.752.953.453.3

54.855.356.056.3

1 Net of Government sales.2 Less than $50 million.

3 Preliminary estimates.



211


TABLE C—3.—Gross national product by major type of product, 1929—65

[Billions of dollars]

Year orquarter

Totalgrossna-

tionalprod-uct

1929..._

1930 . . . .1 9 3 1 . - -1932 . . . .1 9 3 3 - - -1934.-.-1 9 3 5 . - -1 9 3 6 . . -1 9 3 7 - . -1 9 3 8 . - -1939--.-

194019411942.___1943 . . .1944 . . . .1945194619471948 . ._1949

1950.---1951195219531954 . . . .1955 ___19561957. .--19581959

19601961196219631964

1965 2

1963: II I — .I l lIV —

1964: III- . .I I I -IV...

1965: III—I I I -IV 2.

Finalsales

103.1

90.475.858.055.665.172.282.590.484.790.5

99.7124.5157.191.6210.1212.0208.5231.3257.6256.5

284.8328.4345.5364.6364.8398.0419.2441.1447.3483.6

503.8520.1560.3589.2628.

675.6

[nven-tory

change

101.4

90.777.060.557.265.871.281.287.985.690.1

97.5120.1156.2192.2211.1213.0202.1231.8252.9259.6

278.0318.1342.4364.1366.4392.0414.439.8448.8478.9

500.2518.1554.3583.5623.9

668.1

1.7

A

- L I-2.5-1.6

>j

ill1.32.5

- . 9.4

2.24.51.8

- . 6- 1 . 0—1.0

6.4

4! 7- 3 . 1

6.810,33.1

.4- 1 . 5

6.041.3

- 1 . 54.8

3.62.06.05.74.8

7.4

Goods output

Total

Total Finaloods sales

56.1

46.937.426.727.034.439.945.851.545.349.0

56.072.593.6

120.4132.3128.9124.9139.7154.2147.5

162.4189.195.6204.1197.1216.4225.4234.6230.8249.1

259.6262.3284.5296.8316.1

340. 8

Inven-tory

change

54.3

47.338.629.228.635.138.844.548.946.248.6

53.868.091.9

121.0133.3129.9118.5140.1149.4150.5

155.6179.4192.5203.7198.6210.4220.233.3232.244.4

256.0260.2278.5291.1311.3

333.3

Total

1.7

- . 4—1.1- 2 . 5- 1 . 6- . 71.11.32.5

- . 9.4

2.24.51.8

- . 6- 1 . 0- 1 . 0

6.4

4^7- 3 . 1

6.810.33.1

.4- 1 . 5

6.04.1.3

- 1 . 54.8

3.62.06.05.74.8

Durable goods Nondurable goods

Finalsales

17.5

11.47.73.64.97.49.3

12.213.99.9

12.7

16.626.835.554.257.948.936.946.048.747.8

60.473.774.679.472.185.790.94.483.695.6

96.5109.0115.9

139.3

Inven-tory

change

16.1

12.59.05.75.47.38.9

11.213.110.812.4

15.423.834.554.258.550.231.644.348.049.9

56.366.873.578.574.682.787.593.186.4

97.496.6

106.2113.1122.8

133.4

Total

1.4

- 1 . 0- 1 . 2- 2 . 0- . 5

.1

.3

.9

.8- . 9

.3

1.23.01.0

(0

— 1.35.31.7.7

- 2 . 1

4.1

- 2 . 53.02.81.3

- 2 . 82.3

2.1- . 12.82.83.3

Finalsales

38.5

35.529.723.122.127.030.633.637.635.436.3

39.345.658.166.274.480.088.093.7

105.599.7

Inven-tory

change

102.116.121.124.125.130.135.1140.2147.2153.6

160.1165.8175.5181.0190.0

5.9 201.5

38.2

34.829.623.623.227.829.933.335.835.436 2

38.444.257.466.874.879.786.995.9

101.5100.6

99.3112.6119.1125.2124.1127.7133.140.2145.'151.1

158.6163.7172.2178.1

200.0

0.3

.7

.1- . 4

- 1 . 1- . 9

.7

.31.8

0)

1.01.4.7

- . 6- . 3

.21.1

- 2 . 24.0

- 1 . 0

2.73.42.0

1.02.91.9

0)1.32.4

1.52.13.22.91

Serv-ices

Struc-tures

35.6

34.231.727.525.727.128.331.032.333.234.0

35.440.350.362.571.876.568.070.275.80.8

87.0101.2110.8118.8123.5132.6142. 3154.163.4176.2

187.3199.5213.3226.9244.0

261.1


577.0583.1593.1603.6

614.0624.2634.8641.1

657.6668.681.5694.6

572.5578.4587.3595.5

610.7620.1631.0633.6

648.8662.4673.9687.5

4.54. 75.88.1

3.34.13.87.5

8.86.47.67.0

291.7293.9298.7303.4

308.2312.4319.8323.3

331. 6335.5344.6351.4

287.2289.2292.9295.3

304.9308.3316.0315.8

322.8329.1337.1344.4

4.54.75.88.1

3.34.13.87.5

8.86.47.67.0

111.8115.4116.6120.0

122.3125.0128.1128.8

137.2136.6141.9141.5

109.8112.0114.3116.2

120.1121.6125.4124.3

130.1130.3135.4137.7

2.03.42.33.8

2.23.52.74.4

7.16.26.53.8

179.9178.5182.2183.4

185.9187.4191.7194.6

194.4198.9202.7210.0

177.4177.2178.6179.1

184.9186.8190.6191.5

192.8198.7201.7206.7

2.51.43.54.3

1.1.6

1.13.1

1.6.2

1.03.2

222.1225.1228.2232.1

237.3242.8246.4249.7

253.8259.0263.0268.6

1 Less than $50 million.2 Preliminary estimates.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.

212


T A B L E G-4.—Gross national product by major type of product, in 1958 prices, 1929-65

[Billions of dollars, 1958 prices]

Year orquarter

'otalgrossna-ionalirod-uct

1929..

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

195019511952.1953195419551956 __195719581959

196019611962196319641965 2

1963: I . . . .I I . . .III.IV..

1964: I . . . .I I . . . .III . . .IV. _.

1965: II I . . . .III . . .IV2._

Final

203.6

183.3169.2144.1141.5154.3169.6193.0203.3193.0209.4

227.2263.7297.8337.2361.3355.312.6309.9323.324,

355.383.395.412.407.438.446.452.447.475.

487.497.530.550.577.609.

Inven-tory

:hange

200.0

183.9171.6150.145.9156. 9167.1189.9197.8195.3208.2

222.3254.1293.8337.4363.2358.3302.6310.1319.1328.1

347.372.5391.411.*409.431.6441.2451.2448.8471.

484.495.524.544.573.601.

3.5

- . 6-2 .4- 6 .- 4 . 3-2 .7

2.43.15.5

-2 .41.2

4.99.64.0

2- L 9- 2 . 910.0

4*. 6- 3 . 9

10.93.3.9

- 2 . 06.4.81.2

- 14.S

3.52.06.5.74.7.2

Goods output

Total

Totalgoods

Finalsales

103.9

90.582.268.768.877.988.6

102.2110.2103.0110.7

124.0143.4158.1187.4204.8198.0172.1172.2178.4174.2

192.6208.4214.0225.4215.1236.1239.0239.8230.8247.8

256.1257.277.5288.3304.6324.6

Inven-tory

change

100.4

91.184.774.973.280.586.299.1

104.8105.3109.

119.0133.8154.1187.6206.7201.0162.1172.4173.8178.1

184.197.210.224.217.229.234.238.232.3242.9

252.255.4271.5282.6300.0317.4

Total

3.5

- . 6- 2 . 4- 6 . 2- 4 . 3- 2 . 7

2.43.15.5

-2 .41.2

4.99.64.0

-1.9- 2 . 910.0

- 3 . 9

8.310.93.3

-2^06.4.81.2

- 1 . 54.

3.52.6.5.4.67.2

Durable goods Nondurable goods

Finalsales

33.6

22.416.18.3

11.716.921.528.731.021.827.6

35.650.057.285.695.984.354.760.161.358.0

73.484.184.691.081.996.596.596.83.694.0

97.894.9

107.0114.0123.1135.9

Inven-tory

change

30.9

24.519.013.413.416.720.626.329.124.127.0

32.843.54.485.97.487.446.158.660.061.0

68.376.183.289.984.893.093.595.086.491.6

95.994.9

104.1111.2120.0130.2

Total

2.7

-2 .1-3.0-5.1-1.7

2.41.9

- 2 . 3.6

2.76.62.9.4

- 1 . 5- 3 . 1

8.61.51.2

- 3 . 0

5.8.01.51.2

- 3 . 03.43.01.2

- 2 . 82.4

2.00)

2.82.83.15.7,

Final

70.4

68.066.260.457.161.067.173.579.281.283.0

88.493.4

100.9101.7108.8113.7117.4112.2117.1U6.2

119.1124.3129.4134.4133.2139.7142.5143.6147.153.

158.162.170.174.181.188.

Inven-tory

change

69.5

66.565.61.559.863.865.672.875.781.382.5

86.90.399.7

102.4109.3113. 6116.0113.8113.8117.1

116.0121.4127.6134.6132.3136.140.143.6145.9151.3

156.8160.5167.4171.4180.0187.2

0.8

1.5.5

- 1 . 1- 2 . 7- 2 . 8

1.5.7

3.6- . 1

.6

2.23.11.

&-A

.21.4

- 1 .3.3

- . 9

3.12.91.8

—. 2.9

3.01.8

0)1.32.5

1.52.03.12.91.51.5

Serv-ices

Struc-tures

69.3

67.766.861.963.065.368.173.373.972.376.9

80.089.8

107.7131.8144.0144.113.106.109.112.

117.130.136.140.3141.147.153.160.163.171.

176.184.193.201.211.220.


541.2544.9553.7560.0

567.1575. 9582.6584.7

597.7603.5613.0621.7

536.8540.3547.8552.1

564.1571.4578.8577.7

589.2597.3605.8614.9

4.44.65.87.9

3.04.53.87.1

8.66.27.26.8

283.5285.1290.6294.2

297.6302.2308.4310.2

317.9319.1327.9333.6

279.1280.4284.7286.3

294.6297.7304.7303.1

309.3313.0320.7326.8

4.44.65.87.9

3.04.53.87.1

8.66.27.26.8

109.9113.3114.9117.9

119.4122.3125.2125.5

133.7132.5138.8138.7

108.0110.0112.7114.2

117.3119.0122.5121.2

126.7126.5132.6135.1

1.93.22.33.7

2.03.42.74.3

7.06.06.23.6

173.6171.8175.7176.2

178.3179.9183.2184.7

184.3186.6189.1194.9

171.1170.4172.1172.1

177.2178.8182.1181.9

182.7186.5188.1191.7

2.51.43.64.2

1.01.11.12.8

1.6.2

1.03.2

198.8200.6202.6204.0

207.4211.5213.0214.3

216.4219.5221.3224.1

30.3

25.220.113.69.7

11.112.817.519.117.721.8

23.230.531.918.012.513.127.231.236.137.5

45.244.444.747.050.254.354.052.653.157.0

55.055.858.860.261.464.0

58.959.360.561.8

62.062.261.160.3

63.964.763.064.5

1 Less than $50 million.2 Preliminary estimates.



213


TABLE C—5.—Implicit price deflators for gross national product, 1929-65

I Index numbers, 1958=100]

Year or quarter

1929

1930.193119321933193419351936193719381939

19401941 . . .194219431944.19451946—194719481949—

1950195119521953195419551956195719581959

I96019611962196319641965 3 _ _

1963: I .I IIII...rv .

1964: I . _II _IIIIV . . .

1965: I .II. . .IllIV 3

Grossnational

prod-uct1

50.6

49.344.840.339.342.242.642.744.543.943.2

43.947.253.056.858.259.766.774.679.679.1

80.285.687.588.389.690.994.097.5

100.0101.6

103.3104.6105.7107.1108.9110.9

106.6107.0107.1107.8

108.3108.4109.0109.6

110.0110.8111.2111.7

Personal consumption

Total

55.3

53.647.942 340.643.544.444.746.545.645.1

45.548.754.859.963.265.470.577.982.381.7

82.988.690.591.792.592.894.897.7

100.0101.3

102.9103.9104.8106.1107.2108.7

105.7106.0106.1106.5

106.8107.1107.2107.7

108.0108.7109.0109.3

expenditures

Dur-able

goods

56.4

55.349.143.241.944.743.743.645.846.746.0

46.550.459.364.271.575.976.882.786.386.8

87.894.295.494.392.991.994.998.4

100.0101.4

100.9100.6100.7100.4100.599.1

100.4100.7100.0100.5

100.7100.6100.5100.1

100.2100.198.497.6

Non-durablegoods

54.5

51.644.137.738.042.744.544.846.444.043.2

43.847.755.662.566.268.774.383.688.585.6

86 093.394.393.994.293.694.997 7

100.099.8

101.1101.8102.6103.8104.8106.7

103.5103.8103.8104.2

104.4104.7104.8105.3

105.5106.5107.2107.7

Serv-ices

56.1

55.752.748.343.644.344.445.046.847.747.7

47.949.852.755.357.558.762.767.972.174.3

76.380.083.687.790.092.094.697.3

100.0103.0

105.8107.6109.0110.9112.7115.2

110.2110.7111.1111.6

112.0112.5112 9113.6

114.2114.9115.7116.1

Gross private domestic investmentl

Total

39.4

38.135.531.830.733.834.234.537.738.137.6

39.042.046.549.051.051.458.566.773.974.7

77.583.185.386.686.889.094.098.5

100.0102.6

103.4103.9104.9106.0107.8109.7

105.2105.7106.3106.7

107.1107.5108.0108.5

108.9109,4109.9110.4

Fixed investment

Nonresidential

Total

39.9

38.336.133.331.735.035.835.638.739.238.7

40.142.747.849.550.850.956.364.570.772.8

74.480.482.684.084.886.792.497.9

100.0102.2

102.9103.4104.1104.6106.0107.4

104.2104.4104.8105.1

105.5105.7106.0106.6

107.0107.3107.4107.9

Struc-tures

35.7

34.431.728.228.129.130.430.134.333.833.1

34.136.441.345.548.149.054.464.471.571.2

72.979.383.284.986.088.193.498.6

100.0102.7

104.0105.6107.1109.2111.8114.8

108.2108.8109.6110.2

110.5111.4112.3113.0

114.1114.0115.2115.7

Pro-ducers'durableequip-ment

44.6

43,041.139.. 134.538.838.738.541.443.042.2

43.446.351.551.151.951.757.564.670.373.6

75 280.982.283.584.085.991.897 5

100.0102.0

102.2102.1102.3102.2103.1103.8

102.0102.1102.2102.4

103.0102.8103.0103.5

103. 5103. 8103.7104.2

Resi-dentialstruc-tures

38.1

37.133.627 327.130.129.831.334.335.535.7

36.940.343.347.051.654.959.771.780.878.5

82.588.690.891.990.492.997.499.8

100.0103.1

104.5105.0106.7108.9112.0115.9

107. 5108.3109.6110.2

110.5111.6112.8113.4

114.0114.9116.9117.8


214


TABLE G—5.—Implicit price deflators for gross national product, 7929-65—Continued

[Index numbers, 1958=100]

Year or quarter

Exports and imports ofgoods and services i

Exports Imports

Government purchases of goodsand services

Total Federal State andlocal

Grossprivate

product2

1929.

19301931.193219331934_19351936193719381939

1940_19411942194319441945_1946194719481949.

19501951195219531954.19551956195719581959

196019611962196319641965 3

1963: I . . .I I . .I I I .IV..

1964: I . - .I I . .I I I .IV..

1965: I . . .II_.I I I .IV 3

59.5

52.341.034.733.740.642.343.446.543.844.1

48.653.061.565.269.971.375.487.392.787.0

84.997.098.895.294.394.997.5

101.3100.098.8

101.9100.8100.6101. 5104.9

101.2100.7100.2100.3

101.0100.7101.3102.9

105.2104.9104.8104.8

57.3

49.039.331.528.833.636.036.740.737.938.6

40.843.048.351.253.256.464.979.486.482.2

88.7107.2103.699.1

100.8100.6102.5104.0100.099.3

101.0100.198.599.6

101.8102.1

99.599.3

101.9102.2101.6101.7

102.9101.5102.0102.0

38.6

37.936.333.434.536.837.037.638.438.337.9

38.544.050.953.953.152.655.862.968.171.0

71.878.581.081.884.187.192.196.4

100.0102.4

105.0107.1109.0111.7116.0119.6

110.5111.2111.7113.5

114.9115.0116.5117.5

118.1119.1119.8121.5

36.0

34.134.531.933.137.437.040.540.740.540.8

40.246.652.554.953.853.157.365.669.873.0

72.979.481.281.483.586.991.795.8

100.0102.2

104.2105.2105.6107.8112.9116.6

106.7107.3107.5109.6

111.7111.9113.7114.6

115.1115.7116.6118.9

39.1

38.736.633.835.036.637.035.937.136.836.3

37.339.242.344.646.148.653.260.466.468.9

70.876.980.682.885.387.592.797.3

100.0102.6

105.9109.4113.2116.5119.3122.8

115.1116.0116.8117.9

118.6118.5119.5120.6

121.2122.5123.1124.2

51.7

50.545.740.939.943.043.543.445.344.643.9

44.748.755.560.862.062.668.276.381.480.6

81.487.489.089.690.891.694.597.9

100.0101.4

102.7103.7104.7105.7107.1108, 9

105.3105.7105.8106.2

106.6106.7107.1107.8

108.1108.9109.2109.5

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

2 Gross national product less compensation of general government employees. See also Table C-7.3 Preliminary estimates.



215


T A B L E G—6.—Gross national product: Receipts and expenditures by major economic groups*1929-65


Yearor

quarterTotal

exclud-ing in-terestand

trans-fers

Persons

Disposable personalincome

Total

Inter-est

paidand

trans-fer

pay-mentsto for-eigners

Per-sonalcon-

sump-tionex-

pendi-tures

Per-sonal

saving(+)ordis-

saving()

Government

Net receipts

Netre-

ceipts

Taxandnon-taxre-

ceiptsor ac-cruals

Trans-fers,

inter-est,andsub-

sidies 2

Expenditures

Pur-

ofgoodsandserv-ices

Totalex-

pendi-tures

Trans-fers,

inter-est,andsub-

sidies 2

1929..

1930..1931..1932..1933..1934..1935..1936..1937-.1938..1939..

1940..1941..1942..1943..1944..1945..1946..1947..1948..1949..

1950.1951.1952.1953.1954.1955.1956.1957.1958.1959 _

1960.1961.1962.1963.1964.1965 7

1963: IIIIIIIV

1964: IIIIIIIV

1965: IIIIIIIV 7

81.4

73.363.148.044.951.757.865.570.364.669.4

74.791.6

116.1132.7145.5149.3158.6168.0186.9186.2

204.1223.5234.9248.3252. 9270.2287.3302.2312.4330.3

342.3356.3376.7394.3425.2453.6

83.3

74.564.048.745.552.458.566.371.265.570.3

75.792.7

116.9133.5146.3150.2160.0169.8189.1188.6

206.9226.6238.3252.6257.4275.3293.2308.5318.8337.3

350.0364.4385.3403.8435.8465.3

1.9

1.2.9.7.7

. 9

1.01.1

.81.01.41.82.22.4

2.83.03.54.34.55.15.96.36.57.0

7.88.18.69.6

10.511.7

77.2

69.960.548.645.851.355.761.966.563.966.8

70.880.688.599.3

108.3119.7143.4160.7173.6176.8

191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2

325.2335.2355.1373.8

428.5

4.2

3.42.6

.42.13.63.8.7

2.6

3.811.027.633.437.329.615.27.3

13.49.4

13.117.318.218.316.415.820.620.822.319.1

17.021.221.620.426.325.1

9.5

8.96.36.36.77.48.08.8

12.211.211.2

13.321.028.244.444.742.832.439.540.134.7

45.864.970.874.867.876.983.586.881.695.0

103.3103.3114.2123.8125.9137.2

11.3

10.89.58.99.3

10.511.412.915.415.015.4

17.725.032.649.251.253.250.956.858.956.0

68.784.889.894.389.7

100.4109.0115.6114.7128.9

139.8144.6157.0168.3172.7186.9

1.8

1.93.12.62.73.13.44.13.23.84.2

4.44.04.44.76.5

10.418.517.318.821.3

22.919.919.019.521.923.425.528.733.034.0

36.541.342.844.546.849.7

8.5

9.29.28.18.09.8

10.012.011.913.013.3

14.024.859.688.696.582.327.025.131.637.8

37.959.174.781.674.874.278.686.194.297.0

107.6117.1122.6128.4135.0

10.3

11.112.410.610.712.913.416.115.016.817.6

18.428.864.093.3

103.092.745.542.450.359.1

60.879.093.7

101.296.797.6

104.1114.9127.2131.0

136.1149.0159.9167.1175.1184.7

1.8

1.93.12.62.73.13.44.13.23.84.2

4.44.04.44.76.5

10.418.517.318.821.3

22.919.919.019.521.923.425.528.733.034.0

36 54l!342.844.546.849.7


386.5390.0396.3404.0

412. 5423.3429.6435.4

440.2446.9459.3468.1

395.7399.4406.1414.0

422.6433.6440.3446.4

451.4458.5471.2480.3

9.29.49.7

10.0

10.110.410.711.0

11.211.611.912.2

368.0371.1376.6379.5

389.1396.0404.6405.9

416.9424.5432 5440.1

18.518.919.824.4

23.327.325.029.5

23.322.426.828.0

120.4123.6124.6126.7

124.6123.2126.7129.4

136.0138.4134.7

(9)

165.3167.4168.9171.5

171.4169.6173.5176.5

184.8186.6186.4

(9)

44.943.844.244.8

46.746.446.847.1

48.848.251.750.1

121.9120.9123.0124.3

126.3129.7128.7128.6

131.3133. 5135.4139.6

166.8164.7167.2169.1

173.0176.1175.5175.7

180.1181.7187.1189.7

44.943.844.244.8

46.74 6 446.847.1

48.848.251.750.1


2 l 6


TABLE C-6.—Gross national product: Receipts and expenditures by major economic groups,7929-65— Continued


Yearor

quarter

]

Grossre-

tainedearn-ings3

11.28.65.33.23.25.26.46.77.78.08.4

10.511.414.516.317.115.114.520.328.129.729.433.135.136.139.046.347.349.849.456.856.858.766.369.175.4

8 82.8

BusineSv

GrossDri-V11

vatedomes-tic in-vest-ment4

16.210.35.61.01.43.36.48.5

11.86.59.3

13.117.99.85.77.1

10.630.634.046.035.754.159.351.952.651.767.470.067.860.975.374.871.783.086.992.9

104.9

5

Excessof in-vest-ment( - )

- 5 . 1- 1 . 6

- . 32.21.81.9

(6)- 1 . 8- 4 . 0

1.6- . 9

- 2 . 7- 6 . 5

4.610.610.04.5

-16.1-13.7-18.0- 6 . 0

-24.7-26.2-16.8-16.5-12.7-21.1-22.8-18.1-11.5-18.5-18.0-13.0-16.8-17.8-17.5*-22.1

International

Trans-fers to

for-eignersby per-

sonsandGov-

ment

0.4

. 3

. 3

. 2

. 2

. 2

. 2

. 2

. 2

. 2

. 2

. 2

. 2

. 2

. 2

. 3

. 82.92.64.55.6

4.03.52.52.52.32.52.42.32.32.4

2.32.62.72.82.72.8

Net exports of goodsand services

Netex-

ports

1.1

1.0. 5. 4. 4.6. 1. 1. 3

1.31.1

1.71.3

(8)- 2 . 0- 1 . 8

- . 67.5

11.56.46.1

1.83.72.2

.41.82.04.05.72.2

. 1

4.15.65.15.98.67.2

Ex-ports

7.0

5.43.62.52.43.03.33.54.64.34.4

5.45.94.84.45.37.2

14.719.716.815.813.818.718.016.917.819.823.626.523.123.527.228.630.332.437.039.2

Im-ports

5.9

4.43.12.12.02.43.13.44.33.03.4

3.64.64.86.57.17.97.28.2

10.39.6

12.015.115.816.615.917.819.620.820.923.323.222.925.126.428.532.0

Excessof

trans-fers

(+) orof netex-ports( - ) •

- 0 . 8- . 7- . 2- . 2- . 2- . 4

. 1

. 1- . 1

- 1 . 1- . 9

- 1 . 5- 1 . 1

. 22.22.11.4

- 4 . 6- 8 . 9- 1 . 9- . 5

2.2- . 2

.32.1

.4

.5-1 .6-3 .4

. 12.3

-1 .7- 3 . 1- 2 . 5-3 .2-5 .8-4 .4

Totalincomeor re-ceipts

102.491.275.157.755.064.572.581.390.584.189.298.7

124.1159.0193.6207.6208.0208.4230.4259.6256.2283.3325.1343.3361.6362.0395.9420.4441.1445.8484.5504.8520.8559.8589.9629.2

8 676.4

Statis-ticaldis-

crep-ancy

0.7

- . 8. 7. 3. 6. 5

- . 21.2

(8). 6

1.3

1.0.4

- 1 . 1- 2 . 0

2.54.0

. 1

. 9- 2 . 0

. 3

1.53.32.23.02.92.1

—1.1(6)1.6

- . 8

- 1 . 0- . 7

. 5- . 7- . 5

8 - . 8

Grossna-

tionalprod-uct

or ex-pendi-ture

19291930193119321933193419351936193719381939

194019411942194319441945.1946194719481949

19501951195219531954195519561957 -1958 _1959

196019611962196319641965 7

1963: I...II..III.IV_

1964: I...II..III.IV.

1965: I.._II._III.IV 7


67.368.470.370.474.275.276.575.882.082.083.2(

103.190.475.858.055.665.172.282.590.484.790.5

99.7124.5157.9191.6210.1212.0208.5231.3257.6256.5

284.8328.4345. 5364.6364.8398.0419.2441.1447.3483.6503.8520.1560.3589.2628.7675.6

82.684.887.992.489.790.992.697.7

103.4102.8106.2107.5

-15.4-16.4-17.6-22.0-15.5-15.7-16.1-21.9-21.4-20.8-23.0

(8)

2.62.82.82.8

2.72.92.72.7

2.63.02.72.8

4.56.25.77.3

8.87.78.88.9

6.08.07.47.4

30.032.432.634.436.336.037.338.434.740.440.141.4

25.626.226.927.127.528.228.529.528.632.432.734.1

-1 .8- 3 . 5- 2 . 9- 4 . 5- 6 . 1-4 .8- 6 . 1-6 .2-3 .4-5 .0-4 .7-4 .6

576.8584.7594.1603.9614.0624.5635.4643.3660.7670.2680.1

(9)

0.2-1 .6-1 .0- . 3

(6)- . 3- . 7

-2 .2- 3 . 1- 1 . 4

1.4(9)

577.0583.1593.1603.6614.0624.2634.8641.1657.6668.8681.5

1 Personal income less personal tax and nontax payments (fines, penalties, etc.).2 Government transfer payments to persons, foreign net transfers by Government, net interest paid by

government, and subsidies less current surplus of government enterprises.3 Undistributed corporate profits, corporate inventory valuation adjustment, capital consumption allow-

ances, and wage accruals less disbursements.4 Private business investment, purchases of capital goods by private nonprofit institutions, and residential

housing. See Table C-9.5 Net foreign investment with sign changed.8 Less than $50 million.7 Preliminary estimates.8 Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not

available. All other data incorporating or derived from these figures are correspondingly approximate.9 Not available.



217


TABLE C-7.—Gross private and government product, in current and 1958 prices, 7929-65


Year or quarter

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

196019611962196319641965

1963: I...II..III..IV..

1964: I...II..III.IV..

1965: I...II..III.IV 3

Current prices

Totalgrossna-

tionalprod-uct

103.1

90.475.858.055.665.172.282.590.484.790.5

99.7124.5157.9191.6210.1212.0208.5231.3257.6256.5

284.8328.4345.5364.6364.8398.0419.2441.1447.3483.6

503.8520.1560.3589.2628.7675.6

Gross private product i

Total

85.871.253.650.959.566.375.283.577.082.9

91.9115.1142.8166.0177.9176.9187. 7214.6240.2237.1

263.9301.0314.3332.7332.3363.8382.6402.0405.2439.4

456.3469.2505.6531.0565.8608.4

Farm

9.7

7.76.34.54.64.77.06.48.36.66.3

6.58.9

13.015.315.315.918.820.223.318.8

20.022.922.220.319.618.818.618.420.819.6

20.520.921.221.620.422.9

Non-farm

89.1

78.264.949.146.354.859.368.875.370.576.6

85.4106.2129.8150.8162.7160.9169.0194.4216.9218.3

243.9278.1292.1312.4312.7345.0364.0383.6384.4419.8

435.8448.3484.4509.4545.4585.5

Grossgov-ern-

mentprod-uct 2

4.3

4.54.74.44.75.65.97.36.97.67.6

7.89.4

15.125.632.235.220.816.717.419.4

20.927.431.231.932.534.236.639.142.144.3

47.550.954.758.262.967.2

1958 prices

Totalgrossna-

tionalprod-uct

203.6

183.3169.2144.1141.5154.3169.6193.0203.3193.0209.4

227.2263.7297.8337.2361.3355.4312. 6309.9323.7324.1

355.3383.4395.1412.8407.0438.0446.1452.5447.3475.9

487.8497.3530.0550.0577.6609.0

Gross private product i

Total

190.9

170.0155.7130.9127.5138.3152.5173.1184.4172.6188.8

205.6236.5257.3272. 9286.9282.6275.1281.3295.0294.0

324.2344.6353.3371.1366.1397.3404.8410.6405.2433.4

444.1452.5483.1502.2528.5558.4

Farm

17.0

16.118.518.017.514.616.514.917,917.818.2

17.518.820.619.619.418.118.517.019.018.4

19.418.419.020.020.420.920.820.320.821.1

21.922.222.122.922.323.3

Non-farm

173.9

153.9137.2112.9110.0123.7136.0158.2166. 5154.8170.6

188.1217.7236.7253.3267.5264. 5256.6264.3276.0275.6

304.8326.2334.3351.1345.7376. 4384.0390.3384.4412.3

422.2430.3461.0479.3506.2535.1


Grossgov-ern-

mentprod-uct a

577.0583.1593.1603.6

614.0624.2634.8641.1

657.6668.8681.5694.6

520.2525.5534.7543.6

552.7562.0571.2576.6

592.4602.6614.1624.4

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

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

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

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

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

(4)(4>(4)<*)

56.857.658.460.0

61.362.263.664.5

65.266.267.470.2

541.2544.9553.7560.0

567.1575.9582.6584. 7

597.7603.5613.0621.7

493.9497.2505.6511.8

518.7527.0533.2535.0

547.9553.3562.3570.2

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

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

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

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

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

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

12.7

13.313.513.214.016.017.119.918.920.420.6

21.627.240.564.374.472.837.528.628.730.1

31.138.841.841.740.940.741.341.942.142.5

43.744.846.947.849.150 6

47.347.748.148.2

48.448.949.449.7

49.850.250.751.5

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 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.

3 Preliminary estimates.4 Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.

218


TABLE C—8.—Personal consumption expenditures, 1929-65


Yearor

quarter

1929

19301931193219331934193519361937 .19381939

19401941 .194219431944 .1945 . . . „1946 .1947 . .19481949

1950-—195119521953 —195419551956._.19571958 .1959.__

1960 _196119621963. _19641965*

1963:11 1 . . .III..

1964: II I . . .

IV._.1965: I

I I . - .III . .IV<_.

tion

il co

nsum

pd

itu

res

ilOi

Tota

l

77.2

69.960.548.645.851.355.761.966.563.966.8

70.880.688.599.3

108.3119.7143.4160.7173.6176.8

191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2

325.2335.2355.1373.8398.9428.5

368.0371.1376.6379.5

389.1396.0404.6405.9

416.9424.5432.5440.1

Durable goods

Tota

l

9.2

7.25.53.63.54.25.16.36.95.76.7

7.89.66.96.66.78.0

15.820.422.724.6

30.529.629.333.232.839.638.940.837.944.3

45.344.249.553.458.764.8

52.252.654.154.9

57.459.160.557.9

64.663.565.465.7

and

par

ts

&

<

3.2

2.21.6

. 91.11.41.92.32.41.62.2

2.73.4

. 7

. 8

. 81.04.06.27.59.9

13.111.611.114.213.618.416.418.315.419.5

20.118.422.024.325.829.9

23.623.924.624.9

25.525.727.124.8

30.329.330.329.6

d ho

use-

>men

t

9-g£*

Fu

rni

hoi

4.8

3.93.12.11.92.22.63.23.63.13.5

3.94.94.73.93.84.68.6

10.911.911.6

14.114.414.314.915.016.617.517.317.118.9

18.919.320.521.924.725.9

21.421.422.122.7

23.925.125.024.8

25.525.426.026.9

Oth

er

1 ?,

1.19

.6

. 5

. 6

.7

. 81 0

. 91.0

1.11.41 61.92.2?, 53.23 33.43.2

3 33.63.94.14.24.65.05.25.45.9

6.36 56.97 38.29.0

7.27.37.47.3

8.08.28.48.3

8.88.99.19.2

Nondurable goods

Tota

l37.7

34.029.022.722.326.729.332.935.234.035.1

37.042.950.858.664.371.982.490.596.294.5

98.1108.8114.0116.8118 3123.3129.3135.6140.2146.6

151.3155.9162.6168.0177.5189.0

ing

alco

-ag

es l

a£

Foo

d,ho

li

19.5

18.014.711.410.912.213.615.316.515.615.7

16.619.223.327.429.933.239.043.746.344.8

46.052.154.755.556.558.160.463.966.668.4

70.172.174.476.579.984.9

1

and

bjod

Clo

thi

9.4

8.06.95.14.65.76.06.66.86.87.1

7.48.8

11.013.414.616.518.218.820.119.3

19.621 221.922.122 123.124.124.324.726.4

27.327.929.630.533.335.1

oil

9d

Gas

oli

1.8

1.71.51.51.51.61.71.92.12.12.2

2.32.62.11.31.41.83.03.64.45.0

5.46 16.87.78 29.09.8

10.611.011.6

12.312.412.913.514.014.7

Oth

er

7.0

6.35.74.85.37.27.99.19.89.5

10.1

10.712.214.416.518.420.522.124.425 425.4

27.129.330.531.631.533.134.936.737.940.2

41.643.545.747.650.354.3


166.6167.4169.2168.9

173.7175.7179.8180.9

182.8187.9190.5194.8

76.076.376.776.8

78.479.080.881.4

81.984.185.987.8

30.330.231.130.6

32.333.233.834.0

34.335.035. 236.0

13.313.413.513.7

14.013.914.014.2

14.214.714.814.9

47.147.647.847.8

49.049.651.151.3

52.454.054.556.1

Tota

l

30.3

28.726.022.220.120.421.322.824.424.325.0

26.028.130.834.237.239.845.349.854.757.6

62.467 973.479.985 491.498.5

105 0112.0120.3

128.7135.1143 0152.3162.6174.7

149.2151.1153.3155.7

158.0161.2164.3167.1

169.5173.1176.7179.6

Services

bo

Hou

si

11.5

11.010.39.07.97.67.78.08.58.99.1

9.410.211.011.512.012.513.915.717.519.3

21.323 926.529.331 733.736.038.541.143.7

46.348.752.055.559.564.7

>er

atio

n

oT3

hol

Hou

se

4.0

3.93.53.02.83.03.23.43.73.63.8

4.04.34.85.25.96.46.87.58.18.5

9.510 411.112.012 614.015.216.217.318.5

20.020.822.023.124.425.8

54.555.355.756.5

57.558.860.161.4

62.764.065.366.7

22.822.823.523.3

23.624.424.824.8

24.925.526.326.6

>

ft

Tra

ns

2.6

2.21.91.61.51.61.71.92.01.92.0

2.12.42.73.43.74.05.05.35.85.9

6.26.77.17.87.98.28.69.09.3

10.1

10.810.611.011.411.712.2

11.311.411.411.5

11.711.711.811.9

11.912.112.312.5

Oth

er

12.2

11.510.38.67.98.28 79.5

10.29 9

10.1

10.411.212.314.015.616 819.7?,1 423.323.9

?5 426.928.730.833.235.538.641.344.348.0

51.654 958.062.367.072.0

60.561.662.864.4

65.166.367.669.1

70.071.472.773.8

* 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.4 Preliminary estimates.


Source: Department of Commerce, Office of Business Economics (except as noted).

219


TABLE C—9.—Gross private domestic investment, 1929—65


Year orquarter

Totalprivate

domesticinvest-ment

Fixed investment

Total

Nonresidential

Total

Structures

Total Non-farm

Producers'durable

equipment

TotalNon-farm

Residential structures

Total Non-farm Farm

Change inbusiness

inventories

Total

1929..

1930-1931. .1932..1933..1934-1935..1936..1937-1 9 3 8 -1939..

1940..1 9 4 1 -1942.-1 9 4 3 -1944-1 9 4 5 -1946-1947-1 9 4 8 -1949..

1950-1951..1952-1953..1954..1955..1956-1957..1958-1959..

1960-1 9 6 1 -1962..1963-1964-1965 2.

1963: II I —III—IV...

1964: II I .I I I . . .I V . . .

1965: II I -I I I . .IV2._

16.2

10.35.61.01.43.36.48.5

11.86.59.3

13.117.99.85.77.1

10.630.634.046.035.7

54.159.351.952.651.767.470.067.860.975.3

74.871.783.086.992.9

104.9

14.5

10.66.83.43.04.15.37.29.27.48.9

11.013.48.16.48.1

11.724.234.441.338.8

47.349.048.852.153.361.465.366.562.470.5

71.369.777.081.288.197.5

10.6

8.35.02.72.43.24.15.67.35.45.9

7.59.56.05.06.8

10.217.023.426.925.1

27.931.831,634.233.638.143.746.441.645.1

48.447.051.754.360.569.8

5.0

4.02.31.2.9

1.01.21.62.41.92.0

2.32.91.91.31.82.96.87.58.88.5

9.211.211.412.713.114.317.218.016.616.7

18.118.419.219.721.124:3

4.8

2.31.2.9

1.01.21.62.41.81.9

2.22.81.81.21.72.76.16.78.07.7

8.510.410.511.912.313.616.517.215.815.9

17,417.718.519.020.423.7

5.6

4.32.71.51.52.22.94.04.93.54.0

5.36.64.13.75.07.3

10.215.918.116.6

18.720.720.221.520.623.826.528.425.028.4

30.328.632.534.639.445.5

4.9

3.72.41.31.31.82.43.34.12.93.4

4.65.63.53.24.26.39.2

14.015.513.7

15.717.717.618.618.021.224.225.922,025.4

27.725.829.431.235.841.3

4.0

2.31.7.7.6.9

1.21.61.92.02.9

3.43.92.11.41.31.57.2

11.114.413.7

19.417.217.218.019.723.321.620.220.825.5

22.822.625.326.927.527.6

3.8

2.21.6.7.5.8

1.11.51.81.92.8

3.23.71.91.21.11.46.7

10.413.612.8

18.616.416.417.219.022.720.919.520.124.8

22.222.024.826.327.027.1

0.2

. 1

. 10)0 )

1.7

- . 4-1 .1-2 .5-1 .6- . 71.11.32.5

- . 9.4

2.24.51.8

- . 6-1 .0-1.0

6.4- . 54.7

-3 .1

10.33.1.4

-1 .56.04.71.3

-1 .54.8

3.62.06.05.74.87.4


82.684.887.992.4

89.790.992.697.7

103.4102.8106.2107.5

78.180.182.184.3

86.586.888.890.2

94.696.498.6

100.5

52.153.455.156.5

58.158.961.663.5

66.968.470.973.2

19.019.220.020.5

20.721.121.121.5

23.224.524.225.4

18.418.519.419.8

20.020.420.520.8

22.523.823.624.8

33.134.235.136.0

37.537.940.542.0

43.743.946.747.8

30.030.931.832.3

33.934.436.838.3

40.140.242.242.9

26.026.726.927.9

28.427.927.226.7

27.728.027.727.2

25.426.126.427.3

27.827.326.626.2

27.127.527.126.7

0.6.6.6.6

.6

.6

.6

.6

.6

. 6

.6

. 5

4.54.75.88.1

3.34.13.87.5

8.86.47.67.0

1 Less than $50 million.




220


TABLE C-10.—National income by type of income, 1929-65


Year orquarter

Totalna-

tionalin-

come1

Total

Compensation ofemployees

andsala-ries

Sup-ple-

mentsto Total

andsala-ries 2

Business and pro-fessional incomeand inventory

valuationadjustment

In-come

ofunin-corpo-ratedenter-prises

Inven-toryvalu-ation

adjust-ment

In-come

offarmpro-prie-tors3

Rentalin-

comeof

per-sons Total

Corporate profitsand inventory

valuationadjustment

Corpo-rate

profitsbeforetaxes4

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953 . ._1954195519561957_19581959

196019611962 . . . .19631964.1965 «

86.8

75.459.742.840.349.557.65.073.667.472.6

81.1104.137.1170.3182.6181.5181.9199.0224.2217.5

241.1278.0291.4304.7303.1331.0350.8366.1367.8400.0

414.5427.3457.7481.1514.4

7554.6

51.1

46.839.831.129.534.337.342.947.945.048.1

52.164.885.3

109.5121.2123.1117.9128.9141.1141.0

1516180.195.3209.1208.0224.5243.1256.0257.8279.1

294.302.6323.6341.0365.3391.9

50.4

46.239.130.529.033.736.741.946.143.045.9

49.862.182.1

105.8116.7117.5112.0123.0135.4134.5

146.8171.1185.1198.3196.5211.3227.8238.239.9258.2

270.8278.1296.1311.2333.5357. 4

0.7.7.6

.5

.6

.61.01.2.02.2

2.32.73.23.84.55.65.95.5.86.5

7.89.6

10.10.911.513.215.217.317.920.9

23.424.627.529.831.834.5

9.0

7.65.83.63.34.75.56.77.26.97.4

8.611.114.017.018.219.221.620.322.722.6

24.026.127.127.527.630.331.332.833.235.1

34.235.637.137.839.140.3

8.8

6.85.13.33.94.85.56.87.26.77.6

8.611.714.417.118.319.323.321.823.122.2

25.126.526.927.627.630.531.833.133.235.3

34.335.637.137.839.140.6

0.1

.3- . 5- . 1

- . 2

- . 4- . 2- . 1- . 1

-1 .7- 1 . 5- . 4

.5

- 1 . 1- . 3

.2- . 2

2

-.3- . 1- . 1

6.24.33.42.12.63.05.34.36.04.44.44.56.49.

11.711.612.214.915.217.512.713.515.815.013.012.411.411.411.313.411.4

12.012.813.013.012.014.3

5.44.83.82.72.01.71.71.82.12.62.72.93.54.55.15.45.66.67.18.08.4

9.410.311.512.713.613.914.314.815.415.6

15.816.016.717.618.218.6

10.5 '0.5

10.017.721.525.124.119.724.631.535.228.

- . 3

1963: IIII I I . . . .IV

1964: IIII I I . . . .IV

1965: IIII I I . . . .IV6...

470.4476.7484.6492.6501.6510.5519.5526.3

540.6549.5557.9(8)

333.6338.0343.0349.5355.1361.9369.0375.4

382.4387.9393. 7,403.6

304.5308.4312.9318.8324.2330.4336.8342.6

348.9353.6359.0368.1

29.029.630.130.7

30.831.532.232.7

33.534.334.735.5

Seasonally adjusted annua]

37.537.637.938.0

38.539.039.439.6

39.940.140.440.7

37.437.738.038.0

38.539.139.539.5

40.040.640.740.9

0.1- . 1- . 1

(5)

(5)

- . 1- . 1

. 1- . 1- . 5- . 3- . 2

13.212.913.013.0

11.912.012.012.2

12.014.515.015.5

rates

17.117.417.718.0

17.918.118.318.5

18.518.618.618.7

56.357.659.159.6

63.664.565.564.9

71.772.073.5(8)

56.158.558.960.864.064.565.365.9

73.173.974.6(8)

0.2- . 9

.2- 1 . 2- . 4

(5).2

- 1 . 0

-1 .4- 1 . 8-1 .2- 1 . 6

12.713.213.914.514.515.015.415.716.116.416.717.1

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 C-ll.

2 Employer contributions for social insurance and to private pension, health, and welfare funds; compensa-tion 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 computing in-come to net additions to farm inventories during the period.

4 See Table C-64 for corporate tax liability and profits after taxes.« Less than $50 million.6 Preliminary estimates.7 Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not

available. All other data incorporating or derived from these figures are correspondingly approximate.8 Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.

795-983 O—06 15221


TABLE C-l 1.—Relation of gross national product and national income, 7929-65


Year or quarterGrossna-

tionalprod-uct

103.1

90.475.858.055.665.172.282.590.484.790.5

99.7124.5157.9191.6210.1212.0208.5231.3257.6256.5

284.8328.4345.5364.6364.8398.0419.2441.1447.3483.6

503.8520.1560.3589.2628.7675.6

Less:Capital

con-sump-tionallow-ances

7.9

8.C7.97.47.06.86.97.07.27.37.3

7.58.29.8

10.211.011.39.9

12.314.516.6

18.321.223.225.728.131.534.137.138.941.4

43.445.250.052.855.758.7

Equals:Netna-

prod-

95.2

82.468.050.748.658.265.475.483.377 A83.2

92.2116.3148.1181.3199.1200.7198.6219.1243.0239.9

266.4307.2322.3338.9336.8366.5385.2404.0408.4442.3

460.3474.9510.4536.5573.0616.8

Plus:Sub-sidiesless

currentsurplusof gov-

ern-mententer-prises

-0.1

- . 10)0)0)

.3

.40)

.2

. 5

. 4

. 1

. 2

. 2

. 7

. 8

. 9- . 2- . 1- . 1

.2

.2- . 1— 4-.2- . 1

. 8

. 9

. 9

. 1

.21.41.4.7

1.21.2

Less:

Indirect business taxes

Total

7.0

7.26.96.87.17.88.28.79.29.29.4

10.011.311.812.714.115.517.118.420.121.3

23.325.227.629.629.432.134.937.338.541.5

45.247.751.554.658.062.0

Fed-eral

1.2

1.0. 9. 9

1.62.22.22.32.42.22.3

2.63.64.04.96.27.17.87.88.08.0

8.99.4

10.310.99.7

10.711.211.811.512.5

13.513.614.615.316.116.8

Stateandlocal

5.8

6.16.05.85.45.66.06.46.86.97.0

7.47.77.77.88.08.49.3

10.612.113.3

14.515.817.318.719.721.423.625.527.028.9

31.734.136.939.241.945.2

Busi-ness

transferpay-

ments

0.6

. 5

. 6

. 7

. 7

.6

.6

.6

.6

.4

. 5

.4

. 5

. 5

. 5

. 5

. 5

. 5

.6

. 7

. 8

.8

.91.0L.2L.IL.2L.4L. 5L.6L.7

1.92.02.12.22.32.3

Sta-tistical

dis-crep-ancy

0.7

- . 8.7.3.6.5

- . 21.2

0). 6

1.3

1.0. 4

- 1 . 1- 2 . 0

2.54.0

. 1

. 9- 2 . 0

. 3

1.53.32.23.02.92.1

- 1 . 10)

1.6- . 8

- 1 . 0- . 7

. 5- . 7- . 5

3 - . 8

Equals:Na-

tionalincome

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..1958-1959-

1960-1 9 6 1 -1962..1963_.1964..1965 2.

1963: I___I I -III.IV..

1964: I....l i -ra..IV..

1965: I___.II—III.IV 2


577.0583.1593.1603.6

614.0624.2634.8641.1

657.6668.8681.5694.6

51.552.553.254.0

54.655.256.156.9

57.758.359.159.8

525.5530.6540.0549.6

559.4569.0578.6584.3

599.9610.5622.4634.7

1.0.8.6.6

.91.21.31.5

1.41.31.21.1

53.754.154.755.6

56.457.658.859.3

61.561.462.062.9

15.215.215.315.5

15.616.016.416.4

17.716.716.116.5

38.538.939.540.1

40.841.642.442.9

43.844.745.946.4

2.12.22.32.3

2.32.32.32.4

2.32.32.32.3

0.2-1 .6-1 .0

- . 3

0)- . 3—.7

-2 .2

-3 .1-1 .4

1.4(«)

86.8

75.459.742.840.349.557.265.073.667.472.6

81.1104.2137.1170.3182.6181.5181.9199.0224.2217.5

241.1278.0291.4304.7303.1331.0350.8366.1367.8400.0

414.5427.3457.7481.1514.4

3 554.6

470.4476.7484.6492.6

501.6510.5519.5526.3

540.6549.5557.9

1 Less than $50 million.2 Preliminary estimates.3 Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not

available. All other data incorporating or derived from these figures are correspondingly approximate.* Not available.NOTE.—Data for Alaska and Hawaii included beginning 1960.Source: Department of Commerce, Office of Business Economics.

222


TABLE C—12.—Relation of national income and personal income, 1929-65


Year or quarter Nationalincome

Corpo-rate

profitsand in-

ven-toryvalu-ationad-just-ment

Contri-butions

forsocialinsur-ance

Wageac-

crualslessdis-

burse-ments

Plus:

Gov-ern-

menttrans-

fer pay-mentsto per-

sons

Inter-est

paidby

gov-ern-

ment(net)

and bycon-

sumers

Divi-dends

Busi-ness

trans-fer

pay-ments

Equals:

Per-sonal

in-come

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..1959.

I960..1961..1962..1963..1964..1965 V

1963: I —II-IIIIV.

1964: I___II..IIIIV.

1965: I___II..IIIIV i

86.8

75.459.742.840.349.557.265.073.667.472.6

81.1104.2137.1170.3182.6181.5181.9199.0224.2217.5

241.1278.0291.4304.7303.1331.0350.8366.1367.8400.0

414.5427.3457.7481.1514.4

2 554.6

470.4476.7484.6492.6

501.6510.5519.5526.3

540.6549.5557.9

10.5

7.02.0

- 1 . 3- 1 . 2

1.73.45.66.84.96.3

15.220.324.423.819.219.325.633.030.8

37.742.739.939.638.046.946.145.641.151.7

49.950.355.758.164.5

273.1

0.2

.3

.3

.3

.3

.3

.3

.61.82.02.1

2.32.83.54.55.26.16.05.75.25.7

6.98.28.78.89.8

11.112.614.514.817.6

20.721.424.026.827.829.5

0.2- . 2

0.9

1.02.11.41.51.61.82.91.92.42.5

2.72.62.62.53.15.6

10.811.110.511.6

14.311.512.012.814.916.117.119.924.124.9

26.630.431.233.034.236.8

2.5

1.81.81.71.6..7.7,7.9.91.9

2.12.22.22.63.34.25.25.56.16.5

7.27.68.19.09.5

10.111.212.012.113.6

15.115.016.117.519.120.6

5.8

5.54.12.52.02.62.84.54.73.2

4.04.44.34.44.64.65.66.37.07.2

8.88.68.68.99.3

10.511.311.711.612.6

13.413.815.215.817.218.9


0.6

.5

.6

.7

.7

.6

1.01.21.11.21.41.51.61.7

1.92.02.12.22.32.3

56.357.659.159.6

63.664.565.564.9

71.772.073.5

26.226.627.027.4

27.327.628.028.4

28.929.229.630.2

0.1- . 1

33.532.532.733.3

34.633.934.134.4

36.035.138.937.3

17.017.217.818.2

18.718.819.419.5

19.920.420.821.1

15.615.715.816.1

16.717.117.417.7

18.018.619.219.9

2.12.22.32.3

2.32.32.32.4

2.32.32.32.3

85.9

77.065.950.247.054.060.468.674.168.372.8

78.396.0

122.9151.3165.3171.1178. 7191.3210.2207.2

227.6255.6272.5288.2290.1310.9333.0351.1361.2383.5

40L0416.8442.6464.8495.0530.7

456.1460.1467.1475.6

483.0490.6499.1507.1

516.2524.7536.0546.0

1 Preliminary estimates.2 Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not

available. All other data incorporating or derived from these figures are correspondingly approximate.* Not available.



223


TABLE C-13.—Sources of personal income, 1929-65


Year or quarter

1929-.

1930..1931 _.1932_.1933_.1934..1935_.1936..1937..1938..1939..

1940..1941..1942..1943..1944..1945..1946..1947..1948..1949..

1950..1951-1952-1953-1954-1955-1956-1957-1958-1959-

1960-1961-1962-1963-1964-1965 6

1963: I . .II .IIIIV.

1964: I - .II .IIIIV.

1965: I - .II .IIIIV

Totalper-

sonalincome

85.9

77.065.950.247.054.060.468.674.168.372.8

78.396.0

122.9151.3165.3171.1178.7191.3210.2207.2

227.6255.6272.5288.2290.1310.9333.0351.1361.2383.5

401.0416.8442.6464.8495.0530.7

Wage and salary disbursements i

Total

50.4

46.239.130.529.033.736.741.946.143.045.9

49.862.182.1

105.6116.9117.5112.0123.0135.3134.6

146.7171.0185.1198.3196.5211.3227.8238.7239.9258.2

270.8278.1296.1311.2333.5357.4

Commodity-producingindustries

Total

21.5

18,514.39.99.8

12.113.515.818.415.317.4

19.727.539.148.950.345.846.054.361.057.7

64.676.181.889.485.492.8

100.2103.899.7

109.1

112.5112.8120.8125.7133.9143.9

Manu-factur-

ing

16.1

13.810.87.77.89.6

10.812.414.611.813.6

15.621.730.940.942.938.236.542.547.244.7

50.359.464.271.267.673.979.582.578.786.9

89.789.896.7

100.6107.2115.5

Distributiveindus-tries

15.6

14.512.59.88.89.9

10.711.813.212.613.3

14.216.318.020.122.724.831.035.237.637.7

39.944.346.949.850.253.457.760.560.864.8

68.169.172.576.081.186.5

Serviceindus-tries

8.4

8.07.15.85.25.75.96.57.16.87.1

7.58.19.09.9

10.912.014.416.117.918.6

19.921.723.325.126.428.931.633.935.938.7

41.544.046.849.954.158.1

Gov-ern-

ment

4.9

5.25.35.05.16.16.57.97.58.28.2

8.410.216.026.633.031920.717.418.920.6

22.428.933.134.134.636.238.340.443.545.6

48.752.256.059.664.368.9

Otherlaborin-

come l

0.6

.7

.7

.91.11.51.81.92.32.73.0

3.84.85.36.06.37.38.49.59.9

11.3

12.012.713.914.816.518.2

Proprietors'income

Busi-nessand

profes-sional


9.0

7.65.83.63.34.75.56.77.26.97.4

8.611.114.017.018.219.221.620.322.722.6

24.026.127.127.527.630.331.332.833.235.1

34.235.637.137.839.140.3

Farm

456.1460.1467.1475.6

483.0490.6499.1507.1

516.2524.7536.0546.0

304.5308.4312.9318.8

324.2330.4336.7342.7

348.9353.6359.0368.1

123.0124.7126.6128.6

130.2132.9135.2137.4

140.8142.3144.4148.0

98.699.7

101.0103.0

104.1106.2108.4110.0

113.0114.2116.0118.9

74.575.376.477.7

79.080.481.983.2

84.786.187.088.2

48.849.450.251.1

52.453.554.655.9

56.557.558.559.9

58.259.059.761.5

62.663.565.066.2

66.867.769.072.0

14.414.614.915.4

15.816.316.717.1

17.518.118.418.9

37.537.637.938.0

38.539.039.439.6

39.940.140.440.7

6.2

4.33.42.12.63.05.34.36.04.44.4

4.56.49.8

11.711.612.214.915.217.512.7

13.515.815.013.012.411.411.411.313.411.4

12.012.813.013.012.014.3

13.212.913.013.0

11.912.012.012.2

12.014.515.015.5


224


TABLE C—13.—Sources of personal income•, 1929-65—Continued


Year orquarter

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

196019611962196319641965 «

1963: I - - - .I I . . .III

1964: III.III

1965: I

IIIIV s.

Rentalincomeof per-

5.4

4.83.82.72.01.71.71.82.12.62.7

2.93.54.55.15.45.66.67.18.08.4

9.410.311.512.713.613.914.314.815.415.6

15.816.016.717.618.218.6

17.117.417.718.0

17.918.118.318.5

18.518.618.618.7

JLJIVI-

dends

5.8

5.54.12.52.02.62.84.54.73.23.8

4.04.44.34.44.64.65.66.37.07.2

8.88.68.68.99.3

10.511.311.711.612.6

13.413.815.215.817.218.9

Personalinterestincome

7.2

6.86.76.35.75.85.75.55.65.55.5

5.45.55.35.35.66.36.87.57.98.5

9.29.9

10.611.813.114.215.717.618.920.7

23.425.027.731.134.337.1

Transfer payments

Total

1.5

1.52.72.22.12.22.43.52.42 .83.0

3.13.13.13.03.66.2

11.311.711.212.4

15.112.513.014.016.017.318.521.425.726.6

28.532.433.335.236.639.2

Old-ageand sur-vivorsinsur-ance

benefits

(*)(*)(4)

(*)0.1.1.2.2.3.4.5.6.7

1.01.92.23.03.64.95.77.38.5

10.2

11.112.614.315.216.018.0

Stateunem-ploy-

ment in-surancebenefits

(4)0.4

. 4

.5

.3

.3

.1

.1

.41.1. 8. 8

1.7

1.4.8

1.01.02.01.41.41.83.92.5

2.84.02.92.82.62.2

Vet-erans'

benefits

0.6

. 61.6. 8.5.4.5

1.9.6.5.5

.5

.5

.5

.5

. 92.86.76.75.85.1

4.93.93.93.73.94.34.34.44.64.6

4.64.84.85.05.35.6

Other

0.9

. 9l . lL.41.61.8L.9L.6L81.92.0

2.02.22.22.22.42.73.13.74.14.9

7.95.96.06.36.56.87.27.98.79.4

10.010.911.212.112.713.4

Less:Personalcontri-butionsfor social

insur-ance

0.1

. 1

.2

.2

.2

.2

.2

.2

.6

.6

.6

.7

. 81.21.82.22.32.02.12.22.2

2.93.43.84.04.65.25.86.76.97.9

9.39.6

10.311.812.413.2

Non-agricul-tural

personalincome 3


15.615.715.816.1

16.717.117.417.7

18.018.619.219.9

29.730.431.732.7

33.233.834.835.3

36.036. 737.538.2

35.634.735.035.6

36.936.236.436.7

38.437.541.239.7

15.015.115.415.5

15.815.916.116.3

16.616.620.418.6

3.02.82.72.7

2.72.62.52.4

2.42.22.22.0

4,95.05.05.1

5.25.35.35.3

5.55.65.65.7

12.711.811.812.2

13.112.512.512.7

13.913.113.113.4

11.611.711.912.0

12.212.312.512.7

12.913.013.313.6

77.6

70.860.846.743.249.853.963.066.762.666.9

72.387.8

111.0137.3151.2156.4161.0173.0189.4191.3

210.9236.4254.1271.9274.7296.4318.5336.6344.3368.5

385.2400.0425.5447.4478.7512.1

438.6442.9449.7458.3

466.8474.1482.8490.7

500.0505.7516.6526.1

1 The total of wage and salary disbursements and other labor income differs from compensation of em-ployees in Table C-10 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 income tonet additions to inventories during the period.

3 Nonagricultural income is personal income exclusive of net income of unincorporated farm enterprises,farm wages, agricultural net interest, and net dividends paid by agricultural corporations.

4 Less than $50 million.5 Preliminary estimates.



225


TABLE G-14.—Disposition of personal income, 1929-65

Year orquarter

Per-sonalncome

Less:Per-sonaltaxand

nontaxpay-

ments

Equals:Dispos-

ableper-sonal

income

Less: Personal outlays

Totalout-lays

Per-sonalcon-

sump-tion

expend-itures

Interestpaid by

con-sumers

Per-sonal

transferpay-

mentsto for-eigners

Equals:Per-sonal

saving

Percent of disposablepersonal income

Personaloutlays

Total

Con-sump-tion

expenditures

Per-sonal

saving

1929 _

1930...1931 ___19321933._ .1934.__1935..-1936.--.1937._ .1938._.1939._ .

1940..1941..1942..1943-1944..1945..1946..1947..1948-1949..

1950195119521953195419551956195719581959

196019611962196319641965 1

1963: I---II-.III-IV _

1964: I...II-.III-IV.

1965: I...II_.III-IV i

Billions of dollars Percent

85.9

77.065.950.247.054.060.468.674.168.372.8

78.396.0

122.9151.3165.3171.1178.7191.3210.2207.2

227.6255.6272.5288.2290.1310.9333.0351.1361.2383.5

401.0416.8442.6464.8495.0530.7

2.6

2.51.91.51.51.61.92.32.92.92. 4

2.63.36.0

17.818.920.918.721.421.118.6

20.729.034.135.632.735.539.842.642.346.2

50.952.457.460.959.265.4

83.3

74.564.048.745.552.458.566.371.265.570.3

75.792.7

116.9133.5146.3150.2160.0169.8189.1188.6

206.9226.6238.3252.6257.4275.3293.2308.5318.8337.3

350.0364.4385.3403.8435.8465.3

79.1

71.161.449.346.552.056.462.767.464.867.7

71.881.789.3

100.1109.1120.7144.8162.5175.8179.2

193.9209.3220.1234.2241.0259.5272.6287.8296.5318.2

333.0343.2363.7383.4409.5440.2

77.2

69.960.548.645.851.355.761.966.563.966.8

70.880.688.599.3

108.3119.7143.4160.7173.6176.8

191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2

325.2335.2355.1373.8398.9428.5

1.5

. 9

.7

. 5

. 5

. 5

. 5

.6

.7

.7

.7

.8

.9

.7

. 5

.5

.5

.81.11.51.9

2.42.73.03.84.04.75.45.85.96.5

7.37.68.19.0

10.011.1

0.3

. 3

. 3

.2

. 2

.2

.2

.2

.2

. 2

.2

.2

.2

. 1

.2

.4

.5

.6

.7

.7

. 5

.4

.4

.4

. 5

. 5

.4

. 5

. 5

. 5

.6

. 5

. 5

. 5

.6

.6

.6


456.1460.1467.1475.6

483.0490.6499.1507.1

516.2524.7536.0546.0

60.460.661.061.6

60.456.958.860.7

64.866.264.865.7

395.7399.4406.1414.0

422.6433.6440.3446.4

451.4458.5471.2480.3

377.1380.5386.3389.5

399.3406.3415.3416.9

428.1436.1444.4452.3

368.0371.1376.6379.5

389.1396.0404.6405.9

416.9424.5432.5440.1

8.68.89.29.4

9.69.8

10.210.4

10.611.011.311.6

0.6.6.6.6

.6

. 5

. 5

.6

.6

.6

.6

.61

4.2

3.42.6

.42.13.63.8.7

2.6

3.811.027.633.437.329.615.27.3

13.4

13.117.318.218.316.415.820.620.822.319.1

17.021.221.620.426.325.1

18.518.919.824.4

23.327.325.029.5

23.322.426.828.0

95.0

95.495.9

101.3102.099.396.394.694.798.996.3

94.988.276.475.074.580.390.595.792.995.0

93.792.492.492.793.694.393.093.393.094.3

95.194.294.494.994.094.6

95.395.395.194.1

94.593.794.393.4

94.895.194.394.2

92.

93.94.99.

100.98.95.93.93.97.95.

93.

7

8486023460

686.975.74.74.79.

7407

89.694.91.93.

688

92.391. 090.991.91.92.91.91.91.92

1940203

92.992.092.2929192

93929291

929191

651

0977

139

90.9

92.4929191

686

i Preliminary estimates.



226


TABLE C-15.— Total and per capita disposable personal income and personal consumptionexpenditures, in current and 1958 prices, 1929-65

Year or quarter

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-.1959..

I960. .1961-.1962. .1963._1964 __1965 2.

1963: I —II--III.IV.

1964:II.-

rv.1965: I . . .

III-IV 2.

Disposable personal income

Total (billionsof dollars)

Currentprices

83.3

74.564.048.745.552.458.566.371.265.570.3

75.792.7

116.9133.5146.3150.2160.0169.8189.1188.6

206.9226.6238.3252.6257.4275.3293.2308.5318.8337.3

350.0364.4385.3403.8435.8465.3

1958prices

150.6

139.0133.7115.1112.2120.4131.8148.4153.1143.6155.9

166.3190.3213.4222.8231.6229.7227.0218.0229.8230.8

249.6255.7263.3275.4278.3296.7309.3315.8318.8333.0

340.2350.7367.6380.6406.5428.1

Per capita(dollars)

Currentprices

605516390362414459518552504537

573695867976,057,074,132,178,290,264

,364,469

1,5181,5831,5851,6661,7431,8011,8311,905

1,9371,9832,0642,1322,2682,391

prices

1,236

1,1281,077

921893952

1,0351,1581,1871,1051,190

1,2591,4271,5821,6291,6731,6421,6051,5131, 5671,547

1,6461,6571,6781,7261,7141,7951,8391,8441,8311,881

1,8831,9091,9692,0092,1162,200

Personal consumption expenditures

Total (billionsof dollars)

Currentprices

77.2

60.548.645.851.355.761.966.563.9

70.880.688.599.3

108.3119.7143.4160.7173.6176.8

191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2

325.2335.2355.1373.8398.9428.5

1958prices

139.6

130.4126.1114.8112.8118.1125.5138.4143.1140.2148.2

155.7165.4161.4165.8171.4183.0203.5206.3210.8216.5

230.5232.8239.4250.8255.7274.2281.4288.2290.1307.3

316.2322.6338.6352.4372.1394.1

Per capita(dollars)

Currentprices


634

567487389364406437483516492510

536604656726782855

1,0141.115,184,185

,259,337,381,441,456,539,585,6431,6661,758

1,8001,8241,9021,9732,0762,202

1958prices

395.7399.4406.1414.0

422.6433.6440.3446.4

451.4458.5471.2480.3

374.3376.8382.7388.7

395.7404.9410.7414.5

417.9421.7432.3439.4

2,1002,1122,1402,173

2,2112,2612,2882,311

2,3302,3602,4182,456

1,9861,9932,0162,040

2,0702,1112,1342,146

2,1572,1702,2182,247

368.0371.1376.6379.5

389.1396.0404.6405.9

416.9424.5432.5440.1

348.3350.0355.1356.4

364.5369.8377.3376.8

386.1390.5396.9402.8

1,9531,9631,9841,991

2,0352,0652,1022,101

2,1522,1852,2192,251

1,145

1,0591,016919897934985

1,0801,1101,0791,131

1,1781,2401,1971,2131,2381,3081,4391,4311,4381,451

1,5201,5091,5251,5721,5751,6591,6731,6831,6661,735

1,7501,7561,8141,8611,9372,025

1,8481,8511,8711,870

1,9071,9281,9601,950

1,9932,0102,0362,060

Popu-lation(thou-

sands) 1

121,875

123,188124,149124,949125, 690126,485127,362128,181128,961129,969131,028

132,122133,402134, 860136, 739138,397139,928141,389144,126146, 631149,188

151,684154,287156,954159.565162,391165,275168,221171,274174,141177,073

180,684183,756186,656189,417192,119194,583

188,454189, 072189,809190, 560

191,161191,780192,478193,182

193, 762194,298194,910195,536

1 Population of the United States including armed forces abroad. Annual data are for July 1; quarterlydata are for middle of period.



Sources: Department of Commerce (Office of Business Economics and Bureau of the Census) and Councilof Economic Advisers.

227


T A B L E G—16.—Number and money income of families and unrelated individuals, 1947—64

Year

Families194719481949 _ _

19501951195219531954

195519561957 - - -1958 .1959

19601961 .196219631964

Individuals194719481949 - _

19501951195219531954 _

1955 - .1956195719581959

19601961 . . . . .196219631964

All families

Number(millions)

37.238.639.3

39.940.640.841.242.0

42.943.543.744.245.1

45.546.347.047.447.8

Medianincome (1964

prices)

$4,2144,1194,049

4,2934,4394,5574,9284,819

5,1435,4785,4665,4575,773

5,9045,9706,1356,3586,569

All individuals

Number(millions)

8.28.49.0

9.49.19.79.59.7

9.99.8

10.410.910.9

11.111.211.011.212.1

Medianincome (1964

prices)

$1,3921,3531,418

1,4101,4581,6711,6421,442

1,5401,6501,6991,6521,699

1,8361,8421,8201,8421,983

Poor families i

Number(millions)

11.512.213.0

12.111.511.010.311.2

10.39.59.69.89.4

9.39.59.08.78.4

Incidence

313233

3028272527

2422222221

2020191818

Poor individuals 2

Number(millions)

4.34.54.7

4.94.74.64.65.0

4.84.74.85.15.0

5.04.94.74.85.1

Incidence

535452

5251474851

4948464746

4544434342

1 Poverty is denned to include all families with total money income of less than $3,000 in 1964 prices;these are also referred to as poor families. Incidence of poverty is measured by the percent that poor familiesare of all families.

2 Poverty is denned to include all unrelated individuals with total money income of less than $1,500 in1964 prices. Incidence of poverty is measured by the percent that poor unrelated individuals are of allunrelated individuals.

NOTE.—The number of poor and incidence of poverty shown in this table differ from data shown inChapter 3, Tables 17,18 and 19. In Chapter 3, poverty is defined by the new Social Security Administrationpoverty-income standard; it takes into account family size, composition, and place of residence (as wellas the amount of money income).

Data for Alaska and Hawaii included beginning 1959.

Source: Department of Commerce, Bureau of the Census.

228


TABLE C-17.—Financial saving by individuals, 1939-65 l


Year or quarter

1939 . - .

1940 _ _194119421943194419451946194719481949

19501951195219531954195519561957 _19581959 . . . .

1960196119621963 . . _ . .19641965 io

1963: III. ._IIIIV

1964: III.— _IIIIV

1965: IIIIII

Total

4.2

4.210.529.338.741.437.314.56.72.72.1

1.311.113.110.99.66.8

14.216.416.913.2

8.015.921.222.331.834.3

6.63.46.85 5

7.27.78.58 5

6.78.3

10.78.6

Cur-rencyand

bankde-

posits

3.0

2.94.8

10.916.217.519.010.62.0

-1 .8—1.4

3.55.97.04.75.43.34.74.9

10.24.4

2.78.7

18.017.519.823.6

3.22.35.56.5

2.33.65.78 2

1.95.07.98.8

Sav-ings

shares

0.1

.3

.4

.3

.6q

.1

.23

.3,6

1.72.33.34.04.75.25.45.26.47.2

8.39.4

10.011.811.39.5

3.23.31.73.7

2.53.32.13 5

2.12.51.43.6

Securities

Total

- 0 . 8

- . 42.6

10.314.115.79.9

-1 .42.23.02.3

.9

.73.43.4.2

6.25.15.21.19.7

- . 5.9

- . 9

4.46.2

- . 9- . 31.51

1.61.31.4

I

1.52.01.31.4

U.S.sav-ings

bonds

0.7

.92.88.0

11.111.86.91.02.01.61.5

.3- . 5

.1

.2

.6

.3- . 1

-1 .9- . 5

- 1 . 8

- . 2.8.4

3

.1

.1

.1

Othergov-ern-

ment3

- 0 . 9

- . 8.4

2.33.34.64.2

- 2 . 6- . 2

.5

.1

- . 1- . 41.22.0

- 1 . 13.73.24.4

- 1 . 010.8

- . 9- . 4

.92.04.15.7

—. 7.2

2.06

1.6.9

1.5I

1.31.31.51.6

Cor-porateand

other

- 0 . 6

- . 4- . 5

- . 3- . 7

- 1 . 2.2.4.9.7

.71.62.11.2.6

2.21.92.82.6.6

.6

.5-2 .2-2 .8- . 6

- . 6

g

- . 2

W 6

Pri-

insur-ancere-

serves

1.7

1.82.12.52.83.23.53.43.63.73.7

3.94.14.85.05.25.55.55.15.35.5

5.55.86.46.67.68.1

1.41.51.71.9

1.91.81.82.0

2.11.72.12.2

Non-in-

suredpen-sion

funds

0.1

.1

.1

.1

.2

.6

.9

.3

.3

.4

.6

.91.51.72.02.22.42.83.13.33.8

4.14.44.44.75.45.9

1 2LI

1

. 2

.4.. 2

5L.4L.4

Gov-ern-

mentinsur-anceandpen-sionre-

serves8

1.3

1.31.92.63.95 05.13.53.53.62.3

1.14.24.43.22.63.13.73.2.6

2.3

3.41.13.04.45.45.1

2.81.5

1

.33.21.9

.63.61.0

- . 1

Less:

Mort-gagedebt6

0.5

.9

.8

.1- . 4—. 1

.23.24.24.74.0

6.86.96.47.38.8

12.110.57.99.3

13.2

10.911.913.415.915.615.6

3.53.84.04 6

3.83.83.84.2

3.43.84.14.3

Increase indebt

Con-sumerdebt 7

0.8

1.0.7

-3 .0-1 .0

.1

.52.32.82.42.6

3.71.04.43.71.06.13.22.4.2

6.1

4.21.55.06.36.58.8

- . 72.51.53.0

- . 72.61.63.0

- . 43.42.33.5

Secu-ritiesloans8

-0 .2

- . 2- . 1

.3

.61 41.5

- 2 . 3—.8

.4

.3

.2- . 3

.6

.4

.9

. 6- . 8- . 1

.42

.31.01.1. 9. 1

- . 4

- 1 . 3. 9.8.5

- . 6.6.3

- . 3

- . 1.7

-2 .01.0

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

2 Includes shares in savings and loan associations and shares and deposits in credit unions.3 "Other government" includes U.S. Government issues (except savings bonds), State and local govern-

ment securities, and beginning 1951, nonguaranteed Federal agency issues, which are included in "corporateand other" for years prior to 1951.

* Includes insured pension reserves.• Includes Social Security funds, State and local retirement systems, etc.8 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 dura-

ble 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.

8 Change in bank loans to brokers, dealers, and others for the purpose of purchasing or carrying securities.• Less than $50 million.10 Preliminary estimates.

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 personal saving estimates of the Department ofCommerce are derived as the difference between personal income (after taxes) and personal outlays. Acomparison of the two series is being prepared.

The flow-of-funds system of accounts of the Board of Governors of the Federal Reserve System includesestimates of gross saving and net financial investment of households.

Data for Alaska and Hawaii included for all periods.

Source: Securities and Exchange Commission.

2 2 9


TABLE C-18.—Sources and uses of gross saving, 1929-65


Year or quarter

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..1964..1955..1956..1957.-1958--1959-.

I960..1961..1962-.1963-.1964._1965 3.

1963: I—-II...III.IV..

1964: I—.II._.III.IV..

1965: I....II...III..IV 3

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

Total

16.3

11.85.1

3.26.67.2

11.97.0

13.618.610.75.52.55.2

35.142.050.035.9

50.456.249.547.548.464,872.771.359.273.8

77.675.585.090.799.3

Private saving

Total

15.3

12.18.02.52.35.68.6

10.311.58.7

11.0

14.322.442.049.754.344.729.727.641.439.1

42.550.453.354.455.462.167.870.571.775.9

73.979.887.989.5

101.7* 107.9

Per-sonal

saving

4.2

3.42.6

- . 6- . 9

.42.13.63.8.7

2.6

3.811.027.633.437.329.615.27.3

13.49.4

13.117.318.218.316.415.820.820.822.319.1

17.021.221.620.426.325.1

Grossbusi-ness

saving

11.2

5.33.23.25.26.46.77.78.08.4

10.511.414.516.317.115.114.520.328.129.7

29.433.135.136.139.046.347.349.849.456.8

56.858.766.369.175.4

4 82.8

Government surplusor deficit (-)

Total

1.0

- . 3- 2 . 9-1 .8-1 .4-2 .4-2 .0- 3 . 1

.3-1 .8-2 .2

- . 7-3 .8-31.4-44.1-51.8-39. 5

5.414.48.5

-3 .2

7.85.8

-3 .8-6 .9-7 .0

2.74.9.7

-12.5- 2 . 1

3.7- 4 . 3- 2 . 9

1.2-2 .442.3

Fed-eral

1.2

.3- 2 . 1- 1 . 5- 1 . 3-2 .9-2 .6-3 .6- . 4

- 2 . 1-2 .2

- 1 . 3- 5 . 1-33.1-46.6-54.5-42.1

3.513.48.4

-2 .4

9.16.2

-3 .8-7 .0- 5 . 9

4.05.72.1

-io!2-1 .2

3.5-3 .8-3 .8

.3-3 .8

Stateandlocal

- 0 . 2

- . 3- . 1

.5

.6

.5

.7

.4

1.31.82.52.72.61.91.0.1

- . 7

-1 .2- . 4

- 1 . 3

- L 4- 2 . 3

. 2- . 5

1.44 1.7

Gross investment

Total

17.0

11.05.81.11.63.86.48.4

11.87.6

10.2

14.619.09.63.55.09.2

35.242.947.936.2

51.959.551.750.551.366.971.671.360.873.0

76.674.885.590.098.7

109.3

Grossprivatedomes-tic in-vest-ment

16.2

10.35.61.01.43.36.48.5

11.86.59.3

13.117.99.85.77.1

10.630.634.046.035.7

54.159.351.952.651.767.470.067.860.975.3

74.871.783.086.992.9

104.9

Netforeigninvest-ment i

0.8

.7

.2

.2

.2

.4- . 1- . 1

.11.1

1.51.1

- . 2-2 .2- 2 . 1-1 .4

4.68.91.9.5

-2 .2.2

- . 3- 2 . 1- . 4- . 51.63.4

- . 1- 2 . 3

1.73.12.53.25.84.4


Statis-ticaldis-crep-ancy

84.389.991.797.2

95.996.099.4

106.1

110.0109.3109.3

(5)

85.887.390.094.8

97.5102.4101.5105.3

105.3104.4110.0

(5)

18.518.919.824.4

23.327.325.029.5

23.322.426.828.0

67.368.470.370.4

74.275.276.575.8

82.082.083.2(5)

-1 .62.61.72.4

-1 .6-6 .4- 2 . 1

. 8

4.74.9

- . 7(5)

- 2 . 51.8.6

1.2

-2 .6-7 .6-3 .6- 1 . 1

3.63.8

- 2 . 90)

0.9.9

1.01.3

1.01.21.51.9

1.11.12.2(5)

84.588.390.896.9

95.995.798.7

103.9

106.8107.8110.9112.1

82.684.887.992.4

89.790.992.697.7

103.4102.8106.2107.5

1.83.52.94.5

6.14.86.16.2

3.45.04.74.6

0.7

.7

.5- . 21.2

(2).6

1.3

1.0.4

- 1 . 1- 2 . 0

2.54.0.1.9

- 2 . 0.3

1.53.32.23.02.92.1

- 1 . 1(2)

1.6

- 1 . 0- . 7

.5- . 7- . 5

4 - . 8

0.2-1 .6-1 .0

( )- . 3- . 7

-2.2

- 3 . 1-1 .4

1.4

1 Net exports of goods and services less net transfers to foreigners.2 Less than $50 million.3 Preliminary estimates.4 Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not

available. All other data incorporating or derived from these figures are correspondingly approximate.s Not available.



23O


POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITY

TABLE C-19.—Population by age groups: Estimates, 1929-65, and projections, 1970-85

[Thousands of persons]

July 1

Estimates:1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

1965

Projections:»1970: Series A.

Series D_.

1975: Series A..Series D_.

1980: Series A.Series D .

1985: Series A.Series D .

Total

121,767

123,077124, 040124,840125, 579126,374

127, 250128, 053128,825129, 825130,880

132,122133,402134, 860136, 739138, 397

139, 928141,389144,126146, 631149,188

152, 271154, 878157, 553160,184163, 026

165, 931168, 903171,984174,882177, 830

180, 684183, 756186, 656189, 417192,119

194, 583

211, 430205,886

230, 415218,855

252, 056233,140

275, 622247,953

Age (years)

Under 5

11,734

11,37211,17910,90310, 61210,331

10,17010,04410,00910,17610,418

10, 57910,85011,30112,01612, 524

12, 97913, 24414,40614, 91915, 607

16,41017, 33317,31217. 63818, 057

18, 56619, 00319,49419,88720,175

20, 36420. 65720, 74620, 75020, 691

20, 434

23, 99119, 444

27,31221, 276

30, 55723,164

33,04824,235

5 to 13

22,131

22. 26622; 26322, 23822,12921,964

21, 73021, 43421,08220, 66820, 253

19, 93619,67419,42719,31919, 246

19,32619, 62520,11820,99021,634

22, 42422, 99824, 50125, 70126, 887

27, 92528, 92929, 67230, 65131, 767

32,98533, 29633.94334,60635, 298

35,888

37,74836, 751

41, 05735,533

46, 82636, 984

52, 71940,447

14 to 19

13,796

13,93713, 98014, 01514, 07014,163

14, 29614,44214, 55814,68014, 748

14, 77014,68214, 53414,38114, 264

13, 94213, 59713,44713,17113, 006

12,83912, 72712.80712, 98613, 230

13, 50113, 98114,79515, 33715,816

16, 21717, 56618, 48319, 07519, 813

20,639

} 22,940

} 24,801

25,93024, 247

29,30123,704

20 to 24

10,694

10,91511.00311, 07711,15211,238

11,31711,37511,41111, 45311, 519

11,69011,80711, 95512,06412, 062

12, 03612.00411,81411, 79411, 700

11, 68011, 55211, 35011,06210,832

10, 71410, 61610,60310, 75610,969

11,11611,40811, 88912, 62013,152

13, 667

17,104

19, 057

} 20,624

21, 47220,485

25 to 44

35,862

36,30936, 65436,98837,31937,662

37, 98738,288

38,95439, 354

39,86840,38340,86141,42042, 016

42, 52143, 02743, 65744,28844,916

45, 67346,10346,49446, 78647, 002

47,19547,38047,44147, 3364T, 192

47,13447, 06146,96946, 93346,874

46, 789

48, 216

53, 597

61, 784

} 71,094

45 to 64

21,076

21, 57322,03122, 47322, 93323,435

23, 94724, 44424, 91725, 38725,823

26, 24926, 71827,19627, 67128,138

28,63029, 06429, 49829,93130, 405

30, 84931, 36231,88432, 39332, 941

33, 50734, 05834,59135,10935,663

36,20836, 75637, 31637, 86838,434

39, 011

41,860

43, 419

43, 250

42,984

65 andover

6,474

6,705

7,1477,3637,582

7,8048,0278,2588,5088,764

9,0319,2889,5849,86710,147

10,49410,82811,18511, 53811, 921

12,39712, 80313, 20313, 61714, 076

14, 52714, 93715,38715,80516, 248

16, 65917, 01317, 31117, 56517,856

18,156

19, 571

21,172

23, 086

25,007

1 Two of four series projected by the cohort method and based on different assumptions with regard tocompleted fertility, which moves gradually toward a level of 3,350 children per 1,000 women for Series Aand 2,450 children per 1,000 women for Series D. For further explanation of method of projection and foradditional data, see Population Estimates, Current Population Reports, Series P-25, No. 286, July 196£.

NOTE.—Data for armed forces overseas included beginning 1940 and Alaska and Hawaii beginning 1950.


231


TABLE C-20.—Noninstitutional population and the labor force, 1929-65

Year or month

Nonin-stitu-tionalpopu-

lation i

Totallaborforce

(includ-ing

armedforces)1

Armedforces1

Civilian labor force

Total

Employment2

TotalAgri-cul-

tural

Non-agri-cul-

tural

Unem-ploy-ment2

Totallabor

force aspercentof non-institu-tional

Lation

Unem-ploy-ment

as per-cent of

civilianlaborforce

Thousands of persons 14 years of age and over

Old definitions 2

1929..

19301931193219331934.

1935_1936 ,1937 __.1938 .1939.

19401941...1942..19431944

194519461947

New definitions 2

194719481949

19501951.195219531954

19551956195719581959

I960.—Including Alaska and

Hawaii1960.19611962 *1962196319641965

1964: JanFeb .Mar...AprMay .June

JulyAugSeptOctNovDec

100,380101, 520102,610103,660104,630

105, 530106, 520107,608

107,608108,632109,773

110,929112,075113,270115, 094116,219

117,388118, 734120,445121,950123,366

124,878

125,368127,852130,117130,081132,124134,143136,241

133,200133,358133, 519133,678133,866134,041

134,216134, 400134, 586134,772134,952135,135

49,440

50,08050,68051,25051,84052,490

53,14053,74054,32054,95055,600

56,18057, 53060,38064,56066,040

65,30060,97061,758

61,75862,89863,721

64,74965,98366,56067,36267,818

68,89670,38770, 74471,28471,946

72,820

73,12674,17574,83974,68175, 71276,97178,357

74, 51475,25975,55376,54477,49079,389

78,95878,50976,86577,11276,89776, 567

260

260260250250260

270300320340370

5401,6203,9709,02011,410

11,4403,4501,590

1,5901,4561,616

1,6503,0993,5943,5473,350

3,0482,8572,7982,6372,552

2,514

2,5142,5722,8282,8272,7372,7382S722

2,7212,7322,7432,7452,7482,744

2,7402,7512,7432,7372,7312,726

49,180

49,82050,42051,00051,59052,230

52,87053,44054,00054,61055,230

55,64055,91056,41055, 54054,630

53,86057, 52060,168

60,16861, 44262,105

63,09962,88462,96663,81564,468

65,84867, 53067,94668,64769,394

70,306

70,61271,60372, Oil71,85472,97574,23375,635

71, 79372, 52772,81073,79974,74276,645

76,21875,75874,12274,37574,16673,841

47, 630

45,48042,40038,94038, 76040,890

42,26044,41046,30044, 22045, 750

47, 52050,35053,75054,47053,960

52,82055,25058,027

57,81259,11758,423

59, 748.60,78461,03561,94560,890

62,94464,70865, Oil63,96665,581

66,392

66,68166,79667,99967,84668,80970,35772,179

67,22868,00268,51769,87771,10171,953

72,40572,10470,80571.12370, 79370,375

10,450

10,34010,29010,17010,0909,900

10,11010,0009,8209,6909,610

9,5409,1009,2509,0808,950

8,5808,3208,266

8,2567,9608,017

7,4977,0486,7926,5556,495

6,7186,5726,2225,8445,836

5,696

5,7235,4635,2555,1904,9464,7614,585

3,9933,9314,0174,4295,0075,853

5,8195,4005,2305,1264,5453,785

37,180

35,14032,11028, 77028,67030,990

32,15034,41036, 48034, 53036,140

37,98041,25044,50045,39045,010

44,24046,93049,761

49,55751,15650,406

52,25153,73654,24355,39054,395

56,22558,13558,78958,12259,745

60,697

60,95861,33362, 74462, 65763,86365, 59667,594

63,23464, 07164,50065,44866,09466,100

66,58666,70465,57565,99766,24866, 590

1,550

4,3408,02012,06012,83011, 340

10,6109,0307,70010,3909,480

8,1205,5602,6601,070670

1,0402,2702,142

2,3562,3253,682

3,3512,0991,9321,8703,578

2,9042,8222,9364,6813,813

3,913

3,9314,8064,0124,0074,1663,8763,456

4,5654,5244,2933,9213,6404,692

3,8133,6543,3173,2523,3733,466

Percent

56.05G.758.862.363.1

61.957.257.4

57.457.958.0

58.458.958.858.558.4

58.759.358.758.558.3

58.3

58.358.057.557.457.357.457.5

55.956.456.657.357.959.2

58.858.457.157.257.056.7

3.2

8.715.923.624.921.7

20.116.914.319.017.2

14.69.94.71.91.2

1.93.93.6

3.93.85.9

5.33.33.12.95.6

4.44.24.36.85.5

5.6

5.66.75.65.65.75.24.6

6.46.25.95.34.96.1

5.04.84.54.44.54.7


232


TABLE C-20.—Noninstitutional population and the labor force, 1929-65—Continued

Year or month

1965: Jan..Feb.Mar.Apr..May.June.

July.Aug-Sept.Oct..Nov.Dec.

1964: Jan . .Feb . .Mar..Apr . .May..June..

July..Aug..Sept..Oct._.Nov_.D e c .

1965: JanFebMarAprMayJune


Nonin-stitu-tionalpopu-

lation i

Totallaborforce

(includ-ing

armedforces)'

Armedforces1

Civilian labor force

Total

Employment2

TotalAgri-cul-

tural

Non-agri-cul-tural

Unem-ploy-ment2


135,302135,469135, 651135, 812135, 982136,160

136, 252136, 473136, 670136, 862137,043137,226

75. 69976, 41876, 61277, 30778, 42580,683

81,15080,16378,04478, 71378, 59878, 477

2,7072,7042,7032,6862,6842,680

2,6932,6932,7232, 7602,7952,841

72, 99273, 71473,90974, 62175, 74178,003

78,45777, 47075,32175,95375,80375,636

68,99669,49670,16971, 07072,40773, 716

74,85474,21272,44673,19672,83772, 749

3,7393,8033.9894,4735,1285,622

5,6265,1364,7784,9544,1283,645

65, 25765, 69466,18066, 59767, 27868,094

69, 22869, 07767,66868,24268,70969,103

3,9964,2183,7403,5523,3354,287

3,6023,2582,8752,7572,9662,888

Totallabor

force aspercentof non-

institu-tionalpopu-lation

Unem-ploy-ment

as per-cent of

civilianlaborforce

Percent

55.956.456.556.957.759.3

59.658.757.157.557.457.2

5.55.75.14.84.45.5

4.64.23.83.63.93.8

Seasonally adjusted«

76,35576, 58576,61777, 23677,14677,001

76,85977,03377,09577,05377,20577, 473

77,59077, 76777, 72377,98877, 99078,331

78, 74778,46578, 33478,60678, 90779,408

73,63473,85373,87474,49174,39874,257

74,11974,28274,35274,31674,47474, 747

74,88375,06375,02075,30275,30675, 651

76,05475, 77275, 61175, 84676,11276, 567

69,538

69,86470,50070,56670,283

70,42070.48270, 52870,45070,83271,037

71,25271,32671.48371, 68871,81672, 085

72, 61872,38772, 29772, 56172,91473,441

4,9204,8024,6564,7354,792

4,!4,8004,8314,7204,6994,611

4,5334,1""4,5884,7694,8694,651

4,6394,5724,4184,5514,2734,486

64,61865,08465,20865, 76565, 77465,474

65,58165,68265,69765,73066,13366,426

66, 71966, 71866,89566, 91966,94767, 434

67, 97967,81567, 87968,01068,64168,955

4,0963,9674,0103,9913,8323,974

3,6993,8003,8243,8663,6423,710

3,6313,7373,5373,6143,4903,566

3,4363,3853,3143,2853,1983,126

5.65.45.45.45.25.4

5.05.15.15.2]4.9 I5.0J

4.85.04.74.84.64.7

4.54.54.4

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

2 See Note.3 Not available.4 Averages adjusted by Council of Economic Advisers for comparison with previous data. See Note.5 Based on revised seasonal factors; see footnote 4, Table C-21.

NOTE.—Civilian labor force data beginning with January 1963 are based on a 357-area sample. ForJanuary 1960-December 1962 on a 333-area sample; for May 1956-December 1959 on a 330-area sample; forJanuary 1954-April 1956 on a 230-area sample; for 1946-53 on a 68-area sample; for 1940-45 on a smaller sample;and for 1929-39 on sources other than direct enumeration.

Effective January 1957, persons on layoff with definite instructions to return to work within 30 days oflayoff and persons waiting to start new wage and salary jobs within the following 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 newbusinesses or start new farms within 30 days continue to be classified as employed.

Beginning July 1955, monthly data are for the calendar week ending nearest the 15th of the month; previ-ously, for week containing the 8th. Annual data are averages of monthly figures.

Beginning April 1962, estimating procedures make use of 1960 Census data; January 1953-March 1962,1950 Census data were used, and 1940-52, 1940 Census data. For the effects of this change on thehistorical comparability of the data, see Employment and Earnings, May 1962, p. xiv.

Source: Department of Labor, Bureau of Labor Statistics (except as noted).

233


TABLE C—21.—Civilian employment and unemployment, by sex and age, 7947-65

[Thousands of persons 14 years of age and over]

Year or month

Employment

otal

Males

TotalL4-19rears

20yearsandover

Total

Females

.4-1920

yearsandover

Total

Unemployment

Total

Males

14-1920

yearsand Total

Females

2014-19 years

andoveryears

New definitionsl

1947.1948 _1949.

57,81259,11758,423

41,55242,268U, 473

2,776 38,7762,887 39,3812,672 38,803

.6,259

.6,848

.6,947

1,905 14,3541,913 14,9351,812 15,137

19501951195219531954

59,748 42,16260,784 42,36261,035 '61,94560,890

2,769 39,395 17,584 1,761

42,23742,96642,165

2,738 39,626 18,2,659 39, 5782,671 40,295

39,634

1,85115,82416,570,421

18,79818,97918,724 I', 724 17,000

1,840 16,958:, 813 17,164

1955.1956.1957.1958.1959.

62,944 43,15264,708 43,99965,01143,990

2,626 40,527 19,790 1,7882,783 41,2162,750

1,940

63,966 43,042144,089 2,82141

1960 2.1961..1962 3_1963..1964..1965...

65,58!

66,68144,485 2,94141,54:66,796 44,318 2,976 41,34:

20,70741', 239 21,021" '") 20,924 i; 881

21,492 ""63140,410

,268

18,002, 18,767

1,970 19,05019,043

1,968 19,523

2,091

67,84668,809

44,89245,330 .46,139 3,253 42,886

22,19622,478 2,181 20,5

70,35772,179 47,034

20,10420,295

3; 077 4i; 815 22', 954 2,262 20,693" 079 42,252 23,479 2,223 21,257

3 24,218 2,316 21,903515 22,63:

3,3,3,612 43,422 25,145

2,3562,3253,682

3,3512,0991,9321,8703,578

2,9042,8222,9364,6813,813

3,9314,8064,0074,1663,8763,456

1,7201,5902,602

2,2801,2501,2171,2282,372

1,8891,7571,8933,1552,473

2,5413,0602,4882,5372,2711,8""

298286382

220237209338

308315351473451

542472566553545

1,4221,3042,219

1,9221,029980

1,0192,035

1,5801,4421,5412,6802,022

2,0582,5182,0161,9711,7181,436

637735

1,083

1,073851715642

1,207

1,0161,0671,0431,5261,340

V1,7471,5191,6291,6051,476

162170241

220162157133210

194236222284276

310379344413409420

475565841

854689559510997

823832820

1,2421,064

1,0781,3661,1761,2161,1951,057

Seasonally adjusted 4

1964: Jan___.Feb_._M a r . . .AprMayJune__.




538 45,686 3,140 42,546 23,852— " 850 3,177 42,673 24,036

873 3,220 42,653 23,99170; 500 46; 135 3,217 42,918 24,365 2, 294 22| 071

21,53069', 886 45; 850 3', 177 42', 673 24; 036 2,360 21,676330 21,661864 45,873 3,220 42,653 23,991

500 46,135 3,217 42,918 24,365566 46,277 3,315 42,962 24,289

70; 283 46,004 3, 253 42, 751 24,27970, 566 46,277 3,315 42,962 24,289 2,276 22,013329 21,950

70,420 46,30170; 482 46,202 3,19770, 528 46 218 3 28570

3,300 43,001 24,119 2,290 21,829__. 2 307 21,973,938

70; 450 46; 168 3', 280 42', 888 24', 282 2,307 21,97570,832 46,373 3,273 43,100 24,459 2,422 22,, 037

-~ — ~ *"" 43,170 24,566 2,307 22,25971, 037 46,4713,301

72,387 47,130 3,677 43,453 25,257

71,252 46,585 3,274 43,311 24,66771,326 46,714 3,334 "71,483 46,823 3,400 43; 423 24; 660 2,324 22,33671,688 46,968 3, 529 43,439 24, 720 2,360 22,36071,816 47,054 3,551 43,503 24,762 2,412 22,35072,085 46,962 3,484 43,478 25,123 2,409 22. 714

72,618 47,228 3, 736 43,492 25,390 2, 567 22,823

72, 297 46,917 3,632 43,285 25,380 2,609 22, 77172, 561 47, 051 3,817 43,234 25, 510 2,720 22,79072,914 47,185 3,855 43,330 25,729 2, 792 22,93773,441 47, 500 3,921 43,579 25,941 2, 784 23,157

2,3212,

43,380 24,612 2,300 22,312

2,531

2,280 22,387

22, 726

4,0963,9674,0103,9913,8323,974

3,6993,8003,8243,8663,6423,710

3,6313,7373,5373,6143,4903,566

3,4363,3853,3143,2853,1983,126

2,4252,3122,3572,3222,2082,353

2,1842,2482,2672,2752,1062,115

2,1062,0992,0122,0702,0632,009

2,0131,9521,8891,8991,7371,729

551528586600565565

501589555497551543

528504497539570554

540528594502557

1,8741,7841,7711,7221,6431,788

1,6831,6591,7121,7781,5551,572

1,5781,5951,5151,5311,4931,455

1,4231,4121,3611.305i;2351,172

1,6711,6551,653

1^6241,621

1,5151,5521,5571,5911,5361,595

1,5251,6381,5251,5441,4271,557

1,4231,4331,4251,3861,4611,397

403386379414431429

361410397441382483

466454442475401406

385380422397430

1,2681,2691,2741,2551,1931,192

1,1541,1421,1601,1501,1541,112

1,0591,1841,0831,0691,0261,151

1,0381,0531,003

9891,031

964

1 See Note, Table C-20, for explanation of differences between the old and new definitions.2 Beginning 1960, data for Alaska and Hawaii included.3 Beginning April 1962, not comparable with prior data; see Note, Table C-20.* Based on revised seasonal factors incorporating data through December 1965. See Employment and

Earnings and Monthly Report on the Labor Force, February 1966.

Note.—See Note, Table C-20, for information on area sample used and reporting periods.

Source: Department of Labor, Bureau of Labor Statistics.

234


TABLE C-22.—Selected unemployment rates, 1948-65

[Percent]

Year or monthAll

work-ers

By sex and age

Bothsexes,14-19years

Men,20

yearsandover

Wom-en, 20yearsandover

By race

White Non-white

Expe-riencedwageand

salaryworkers

By selected groups

Mar-ried

men »

Full-timework-ers 2

Blue-collarwork-ers 3

Laborforce

time lostthroughunem-ploy-ment

and part-time

employ-ment *

New definitions

19481949

19501951195219531954

19551956195719581959

1960 519611962 «19631964

1965

1964: Jan._.Feb . .Mar_.Apr_.May..June..

July..Aug..Sept..Oct...Nov..D e c

1965: Jan...Feb. .Mar..Apr_.May..June-July..Aug..Sept.Oct_-Nov_.D e c .

3.85.9

5.33.33.12.95.6

4.44.24.36.85.5

5.66.75.65.75.2

4.6

12.2

11.37.78.07.1

11.4

10.210.410.814.413.2

13.615.213.315.614.7

13.6

5.4

4.72.52.42.54.9

3.83.43.66.24.7

4.75.74.64.53.9

3.2

5.3

5.14.03.22.95.5

4.44.24.16.15.2

5.16.35.45.45.2

4.5

5.0

3.73.96.14.9

5.06.04.95.14.6

4.1

9.8

8.78.48.0

12.610.7

10.212.511.010.99.8

8.3

4.26.7

6.03.73.33.26.0

4.84.44.57.25.6

5.76.85.55.55.0

4.2

3.4

4.61.51.41.74.0

2.82.62.85.13.6

3.74.63.63.42.8

2.4

5.4

5.02.62.5

5.2

3.83.74.07.2

6.7

5.54.9

4.3

4.28.0

7.23.93.63.47.2

5.85.16.2

10.17.6

7.89.27.47.36.3

5.3

5.15.38,16.6

6.78.06.7

•6.45.8

5.0

Seasonally adjusted7

5.65.45.45.45.25.4

5.05.15.15.24.95.0

4.85.04.74.84.64.7

4.54.54.44.34.24.1

14.914.214.815.515.115.1

13.415.414.414.414.115.5

15.214.514.114.714.014.0

13.412.913.213.212.312.9

4.24.04.03.93.74.0

3.83.73.84.03.53.5

3.53.53.43.43.33.2

3.23.13.02.92.82.6

5.65.55.65.45.15.2

5.04.95.05.05.04.8

4.55.04.64.64.44.8

4.44.44.24.24.34.0

4.94.94.94.84.64.8

4.34.54.64.64.34.5

4.34.54.24.44.24.3

4.04.13.93.93.73.7

10.39.59.69.89.99.9

10.39.99.79.79.29.0

9.09.28.68.27.88.3

8.97.78.17.98.17.5

5.35.25.25.14.95.2

4.94.84.94.94.74.5

4.54.64.34.54.34.6

4.24.24.03.94.03.6

3.12.92.92.82.62.8

2.72.62.83.02.42.6

2.72.62.52.52.52.4

2.32.62.22.12.01.8

25.35.25.25.15.05.1

4.74.94.84.74.54.4

4.54.74.44.54.44.6

4.44.24.13.83.73.5

7.06.76.66.46.06.3

6.26.26.36.35.95.7

5.65.65.35.75.45.6

5.55.05.14.84.64.4

6.26.05.95.95.86.0

5.75.75.75.75.25.4

5.35.45.25.35.25.3

5.25.14.74.64.54.4

1 Married men living with their wives. Data for 1949 and 1951-54 are for April; 1950, for March.Data prior to 1955 have not been adjusted to reflect the change in the definition of employment and unem-ployment adopted in January 1957. See Note, Table C-20.

2 Data for 1949-61 are for May. Seasonally adjusted data not yet available on revised basis.3 Includes craftsmen, operatives, and nonfarm laborers. Data for 1948-57 are based on months, January,

April, July, and October.4 Beginning in 1963, this series not strictly comparable with preceding data. Under the current con-

cept, the percent of labor force time lost assumes that unemployed persons looking for full-time work lost37.5 hours, unemployed persons looking for part-time work lost the average hours worked by voluntarypart-time employees, and those on part-time for economic reasons lost difference between 37.5 hours andactual number of hours worked.

8 Beginning 1960, data for Alaska and Hawaii included.• Not comparable with prior data. See Note, Table C-20.7 See footnote 3, Table C-23.


235


TABLE C-23.—Unemployment by duration, 1947-65

Year or month

New definitions194719481949

19501951195219531954

19551956195719581959 —

1960 119611962 2196319641965

1964: Jan . .Feb.Mar.Apr.MayJune

July.Aug.Sept.Oct..Nov.Dec.

1965: J an . .F e b .Mar.Apr .May.June.


Total un-employ-

ment

Duration of unemployment

4 weeksand under

5-14weeks

15-26weeks

Over26 weeks


2,3562,3253,682

3,3512,0991,9321,8703,578

2,9042,8222,9364,6813,813

3,9314,8064,0074,1663,8763,456

4,0963,9674,0103,9913,8323,974

3,8003,8243,8663,6423,710

3,6313,7373,5373,6143,4903,566

3,4363,3853,3143,2853,1983,126

1,2551,3491,804

1,5151,2231,1831,1781,651

1,3871,4851,4851,8331,658

1,7981,8971,7541,8471,7871,718

704669

1,195

1,055574517482

1,115

815805890

1,3971,113

1,1761,3751,1341,2311,116

234193427

425166148132495

367301321785

502728534535491404

Seasonally adjusted3

1,8691,7681,8541,8761,8281,844

1,5861,8161,8061,8011,6561,732

1,6951,7761,7411,8181,8291,788

1,7911, 7221,7031,5621,6181,532

1,1191,1731,1031,1971,0951,110

1,130, 118,0951,104, 059,062

,044,030,003,029,046,015

858992

568502534474459535

466431482479483437

417476436440373415

354403399352334354

164116256

3571378479

317

336232239667571

454804585553482351

518489510476494502

526487436445438445

407411364373341364

332314329345310306

1 Beginning January 1960, data for Alaska and Hawaii included.2 Beginning April 1962, not comparable with prior data; see Note, Table C-20.8 Based on seasonal factors incorporating data through December 1965. Series based on revised factors

incorporating data through December 1965 will appear in Employment and Earnings and Monthly Reporton the Labor Force, February 1966.

NOTE.—See Note, Table C-20, for information on area sample used and reporting periods.


236


TABLE C-24.—Unemployment insurance programs, selected data, 7940-65

Year or month

All programs

Cov-eredem-

ploy-ment 1

Insuredunem-ploy-ment

(weeklyaver-

Totalbenefits

paid(mil-lions

of dol-lars) 2 4

Insuredunem-ploy-

ment 3

State programs

Initialclaims

Ex-haus-tions 5

Insured unem-ployment as per-cent of covered

employment

Unad-justed

Season-ally ad-justed

Benefits paid

Total(mil-

lions ofdollars)

(4)

Aver-age

weeklycheck(dol-lars) 6

1940-194119421943194419451946194719481949

1950195119521953195419551956195719581959

196019611962—1963196419658

1964: Jan...Feb..Mar-Apr..May_June..

July-Aug_.Sept..Oct...Nov..Dec.

1965: Jan...Feb_.Mar_.

May".]June..

July..Aug..Sept..Oct..Nov..Dec 8.

Thousands Weekly average,thousands Percent

24,29128,13630,81932, 41931, 71430,08731,85633,87634,64633,098

34,30836, 33437, 00638, 07236, 62240, 01842, 63343, 43644, 41245,728

46, 33446, 26447, 77648,43449,637

47, 68847, 76448,16848,86249, 41250,161

50, 34750, 67550, 76750, 41250, 485

9 50,897

1,331842661149111720

2,8041,8051,4682,479

1,6051.0001,0691,0652,0481,3951,3181,5673,2692,099

2,0672,9941,946

71,9731,7531,450

2,5632,4102,2011,9181,6051,448

1,4911,3961,2561,2641,4171,801

2,1352,0661,8631,6221,3161,182

1,2551,2181,0681,0131,1231,394

534.7358.8350.480.567.2

574.92,878. 51,785.01, 328. 72, 269.8

1, 467. 6862.9

1, 043. 51, 050. 62, 291.81, 560. 21, 540. 61,913.04, 209. 22,803. 0

3, 022. 74, 358. 23,160. 03, 025.92, 749. 22,260.0

345.6307.9315.6281.0218.3199.3

195.6180.2163.7157.8162.0230.4

273.0265.8294.9242.7179.2169.3

160.6160.7150.3128.2143.0188.0

1,282814649147105589

1,2951,0091,0021,9791,503969

1,024995

1,8651,2541,2121,4502,5091,6821,9062,2901,783'1,8061,6051,328

2,3952,2432,0501,7551,4471,297

1,3431,2611,1251,1381,2931,6751,9961,9321,7181,4701,1791,0591,1321,102959916

1,0331,307

2141641223629116189187210322

2362082152183032262262683702813313503027 298268232412291259246218218

282212194225276348355269222220186191252215173189225290

5.63.02.2.5.4

2.14.33.13.06.2

4.62.82.92.85.23.53.23.66.44.4

4.85.64.44.33.83.0

5.75.34.94.23.43.13.12.92.52.63.03.94.64.54.03.42.72.42.62.52.22.02.33.0

4.13.93.93.93.83.7

3.73.63.53.53.43.6

3.43.33.23.23.03.0

3.03.12.92.72.72.7

518.7344.3344.179.662.4

445.91, 094. 9

775.1789.9

1, 736. 0

1, 373.1840.4998.2962.2026.9

1, 350. 31, 380. 71,733.93, 512. 72, 279. 0

2, 726. 73, 422. 72, 675. 42, 774. 72, 522.12,070.0

319.3283.8292.6258.0201.5183.1

180.5164.5148.4143 2147.0211.4

252.1245.7273.4224.9165.7156.3

149.5148.0138.6117.8132.2175.0

10.5611.0612.6613.8415.9018.7718.5017.8319.0320.48

20.7621.0922.7923.5824.9325.0427.0228.1730.5830.41

32.8733.8034.5635.2835.9637.00

36.0736.2436.2636.0235.5035.27

35.3535.6035.4235.9236.3836.81

37.1837.3937. 4137.1636.4036.07

36.4036.5837.2337.3238.0838.10

1 Includes persons under the State, UCFE (Federal employee, effective January 1955), and RRB (Rail-road Retirement Board) programs. Beginning October 1958, also includes the UCX program (unemploy-ment compensation for ex-servicemen).

2 Includes State, UCFE, RR, UCX, UCV (unemployment compensation for veterans, October 1952-January 1960), and SRA (Servicemen's Readjustment Act, September 1944-September 1951) programs.Also includes Federal and State programs for temporary extension of benefits from June 1958 throughJune 1962, expiration date of program.

3 Covered workers who have completed at least 1 week of unemployment.4 Includes benefits paid under extended duration provisions of State laws, beginning June 1958. Annual

data are net amounts and monthly data are gross amounts.5 Individuals receiving final payments in benefit year.6 For total unemployment only.7 Programs include Puerto Rican sugarcane workers for initial claims and insured unemployment be-

ginning July 1963.s Preliminary.» December 1964 is latest month for which data are available for all programs combined. Workers

covered by State programs account for about 87 percent of the total.

NOTE.—Data for Alaska and Hawaii included for all periods and for Puerto Rico since January 1961.

Source: Department of Labor, Bureau of Employment Security.

795-983 O—66- -16237


TABLE C-25.—Number of wage and salary workers in nonagricultural establishments, 1929-65x

[Thousands of employees]

Year ormonth

1929 __

1930_ _1931 _.1932..1933..1934_.

1935..1936..1937..1938..

1940.1941.1942.1943.1944.

1945._1946..1947..1948..1949..

1950..1951..1952..1953..1954..

1955..1956..1957..1958..1959..

196019611962196319641965 3

1963: JanFeb___.M a r . - .Apr_--_May_—June.._

July . . . .AugS e p t . . .Oct_.-_NovDec

Totalwageand

salarywork-

ers

31,339

29,42426,64923, 62823, 71125,953

27,05329,08231,02629,20930,618

32,37636,55440,12542,45241,883

40,39441.67443,88144, 8911,778

45,22247,84948,82550,23249,022

50.67552,40852,89451,36853,297

54,20353, 98955,51556, 60258,15660,432

Manufacturing

Total

10,702

9,5628,1706,9317,3978,501

9,0699,82710,7949,44010,278

10,98513,19215,28017,60217,328

15, 52414, 70315, 54515, 58214,441

15,24116,39316,63217,54916,31

16,88217,24317,17415,94516,67,"

16,79616, 32616,85316, 99£17, 25<17,98-

Dura-ble

goods

(2)

8(2)4,711

5,3636,9688,82311,08410,856

9,0747,7428,3858,3267,489

8,0949,0899,34910,1109,129

9,54:9,8349; 8568,8309,373

9,45?9,07(9,489,6169,813

10,37S

Non-dura-

blegoods

5,564

5,6226,2256,4586,5186,472

6,4506,9627,1597,2566,953

7,1477,3047,2847,4387,185

7,3407,4097,3197,1167,303

7,3367,2567,3737,38C7,4467,604

Min-ing

1,087

1,009873731744

897946

1,015891854

92595799292;892

836862955

901929898866791

792822828751732

712672650635633628

Con-tractcon-

struc-tion

Trans-porta-tionandpub-

licutili-ties

1,497

1,3721,214

970809862

9121,1451,1121,0551,150

1,2941,7902,1701,5671,094

1,1321,6611,9822,1692,165

2,3332,6032,6342,6232,612

2,8022,9992,9232,7782,960

2,8852,8162,902

3,0563,211

3,916

3,6853,2542,8162,6722,750

2,7862,9733,1342,8632, ' ""

3,0383,2743,4603,6473,829

3,9064,0614,1664,1894,001

4,0344,2264,2484,2904,084

4,1414,2444,2413,9764,011

4,0043,9033,9063,9033.94"4,031

Whole-sale Iand

retailtrade !

Fi-nance,insur-ance,andreal

estate

6,123

5,7975,2844,6834,7555,281

5,4315,8096,2656,1796,426

6,7507,2107,1186,9827,058

7,3148,3768,9559,2729,264

9,3869,74210,00410,24710,235

10,53510,85810,88610,75011,127

11,39111,33711, 56611, 77812,13212,585

1,509

1,4751,4071,3411,2951,319

1,3351,3881,4321,4251,462

1,5021,5491,5381,5021,476

1,4971,6971,7541,8291,85^

1,9191,9912,0692,1462,23'

2,3352,4292,4772,5192,594

2,6692,7312,8002,8772,96'3,043

Serv-iceandmis-cel-

lane-ous

3,440

3,3763,1832,9312,8733,058

3,1423,3263,5183,4733,517

3,6813,9214,0844,1484,163

4,2414,7195,0505,2065,264

5,3825,5765,7305,8676,002

6,2746,5366,7496,8117,115

7,3927,6107,9478,2268,5698,903

Government

Fed-eral

533

526560559565652

753826833829905

9961,3402,2132,9052,928

2,8082,2541,8921,8631, '

1,9282,3022,4202,3052,188

2,1872,2092,2172,1912,233

2,2702,2792,3402,3582,3482,379

Stateand

local

Seasonally adjusted

55,89756,02756,14256,35356,48856, 562

56, 67056, 72756,85657,00857,03857,205

16,90016, 88516,92116,98417,02517,009

17,03017,00117,02817,06017,03717, 083

9,5489,5409,5599,6019,6289,625

9,6369,6119,6459,6579,6569,691

7,3527,3457,3627,3837,3977,384

7,3947,3907,3837,4037,3817,392

631629631636638638

639637636633634636

2,9112,8902,8882,9602,9682,970

2,9862,9962,9982,9882,9742,989

3,8183,9073,8983,9003,9073,919

3,9213,9193,9253,9163,9123,902

11, 64811, 67011, 69811, 72211, 74011, 762

11, 76711, 79211, 82411,84111, 86911,901

2,8402,8462,8552,8612,8702,874

2,8802,8852,8882,9032,9082,918

8,0798,0988,1368,1538,1758,210

8,2368,2728,2888,3348,3478,374

2,3462,3512,3502,3512,3492,346

2,3452,3392,3422,3452,3412,344

2,532

2,6222,7042,6662,6012,647

2,7282,8422,9233,0543,090

3,2063,3203,2703,1743,116

3,1373,3413,5823,7873,948

4,0984,0874,1884,3404,563

4,7275,0695,3995,6485,850

6,0836,3156,5506,8687,2487,667

6,7246,7516,7656,7866,8166,834

6,9276,9887,0167,058


238


TABLE C—25.—Number of wage and salary workers in nonagricultural establishments,1929-651—Continued

[Thousands of employees]

Year ormonth

1964: JanFebM a r . . . .AprMayJune..—

J u l y . . . .AugSeptOctN o v . . . .Dec

1965: JanFebMarAprM a y . . -June

J u l y - - .AugSeptOctNov» . . .Dec 8....

Totalwageand

salarywork-

ers

Manufacturing

TotalDura-

blegoods

Non-dura-ble

goods

Min-ing

Con-tractcon-

struc-tion

Trans-porta-tionandpub-lic

utili-ties

Whole-saleand

retailtrade

Fi-nance,insur-ance,andreal

estate

Serv-iceandmis-cel-

lane-ous

Government

Fed-eral

Stateandlocal

Seasonally adjusted

57,25257,60657,69457,78157,86458,033

58,19058,30158,49958,37058,87959,163

59,29559, 58159,81459,84660,03260,290

60, 50160,62160,75661,00161,43061,797

17,08917,13117,15617,17617,18017,222

17,26017,29917,41317,14617,47717, 565

17,63817, 70317,76217,80317,83517,943

18,03218,07218,09818,16318,32318,428

9,6949,7119,7499,7629,7489,776

9,8219,8559,9549,6799,966

10,044

10,09810,15010,19410,24110,26610,345

10,42410,47610,49410,52310,62110,699

7,3957,4207,4077,4147,4327,446

7,4397,4447,4597,4677,5117,521

7,5407,5537,5687,5627,5697,598

7,6087,5967,6047,6407,7027,729

632632632633629635

637631631633636635

634634632629627626

633627617622627633

2,8823,0653,0603,0313,0333,054

3,0533,0563,0463,0743,1243,179

3,1853,2113,2383,1453,1883,195

3,1543,1893,1863,2023,2713,383

3,9163,9243,9203,9373,9363,933

3,9433,9583,9653,9653,9723,994

3,9263,9854,0174,0134,0204,034

4,0314,0494,0674,0714,0814,078

11,95812,00612,01612,03512,06912,116

12,16412,18012,19812,22512,25012,303

12,37412,42312,46012,49412,53212,580

12,61912,60012,64112,68412,74412,807

2,9242,9332,9432,9492,9532,963

2,9712,9712,9822,9872,9942,999

3,0033,0133,0233,0243,0323,041

3,0493,0533,0613,0693,0733,076

8,4218,4608,4778,4908,5228,549

8,6038,6158,6438,6568,6748,705

8,7328,7718,7948,8148,8438,857

8,9298,9468,9679,0199,0609,095

2,3422,3402,3392,3412,3392,325

2,3252,3282,3222,3312,3502,348

2,3422,3382,3422,3442,3452,355

2,3762,3792,3792,3862,4002,410

7,0887,1157,1517,1897,2037,236

7,2347,2637,2997,3537,4027,435

7,4617,5037,5467,5807,6107,659

7,6787,7067,7407,7857,8517,887

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 which includes the 12th 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 C-20) 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 Not available.3 Preliminary.

NOTE.—Data are based on the 1957 Standard Industrial Classification and March 1964 benchmark data.Data for Alaska and Hawaii included beginning 1959.


239


TABLE C-26.—Average weekly hours of work in selected industries, 1929-65

Year or month

Manufacturing

Total

44.242.140.538.338.134.636.639.238.635.637.738.140.643.145.045.243.540.340.440.039.140.540.640.740.539.640.740.439.839.240.339.739.840.440.540.741.1

Durablegoods

(3)(3)(3)32.534.733.837.240.939.934.937.939.242.045.046.546.544.040.440.540.439.441.141.541.541.240.141.341.040.339.540.740.140.340.941.141.442.0

Non-durablegoods

(3)(3)(3)41.940.035.136.137.737.436.137.437.038.940.342.543.142.340.540.239.638.939.739.539.739.639.039.939.639.238.839.739.239.339.639.639.740.1

Con-tractcon-

struc-tion

(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)38.238.137.737.438.138.937.937.237.137.537.036.837.036.736.937.037.337.237.4

Retailtrade

(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)43.443.242.841.840.941.040.941.341.040.941.041.140.940.539.839.739.639.138.738.738.738.538.137.937.8

6 37.036.6

Whole-sale

trade

(3)(3)(3)(3)(3)(3)41.642.943.142.341.841.341.141.442.343.042.841.641.141.040.840.740.840.740.640.540.740.540.340.240.640.540.540.640.640.740.8

Bitumi-nouscoal

mining

38.133.328.127.029.326.826.228.527.723.326.827.830.732.436.343.042.041.340.337.732.334.734.933.834.132.337.337.536.333.335.835.835.9

«37.05 38.9«39.2

40.1

Class Irail-

roads 1

(3)(3)(3)(3)(3)(3)(3)(3)(3)(3)43.744.345.847.048.748.948.546.046.446.243.740.841.040.640.640.841.941.741.741.641.941.742.342.642.943.5(3)

Tele-phonecom-

muni-cation 2

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.-1959_-I960..1961._1962_.1963..1964_.1965 7_

1964: J a n . .Feb—Mar..

May—June.July—Aug..Sept.Oct__NovDec—

1965: Jan__F e b -Mar. .Apr._May_June.July. .Aug..Sept_Oct._Nov ?_

40.140.640.640.840.640.740.740.840.640.740.941.241.241.241.341.041.141.041.041.040.941.241.441.4

38.838.939.139.540.140.541.942.3

* 41.739.437.439.238.538.939.138.538.738.939.639.539.038.439.239.639.439.940.040.240.4

Seasonally adjusted

40.941.341.341.641.441.441.441.641.541.241.742.042.142.142.241.942.041.841.741.741.642.042.242.2

39.239.839.739.939.739.639.739.839.539.939.940.140.140.240.239.940.039.940.040.040.140.140.340.3

35.037.637.337.337.237.336.937.035.837.237.639.037.637.537.537.037.537.137.437.336.237.037.039.4

37.037.137.036.937.137.037.237.136.937.036.836.936.836.836.836.936.836.636.836.736.536.436.4(

40.440.640.740.740.740.740.740.740.540.740.840.840.840.840.940.740.940.840.741.040.840.940.8

Unadjusted

38.636.837.639.040.4(3)39.837.740.740.341.040.039.839.739.540.441.5(3)41.139.441.837.7(

43.543.142.843.442.444.344.342.343.843.342.744.342.444.143.843.643.044.243.743.4

39.339.639.539.339.840.040.240.241.840.841.340.439.940.139.839.840.139.940.640.441.340.942.0

1 Data relate to all employees who received pay during the month, except executives, officials, and staffassistants.

2 Prior to April 1945, data relate to all employees except executives. See footnote 2, Table C-28.* Not available.* Nine-month average, April through December, because of new series started in April 1945.« Eleven-month average; excludes data for July.« Beginning 1964, data include eating and drinking places. Comparable data excluding eating and

drinking places are 37.4 hours for 1964.7 Preliminary.NOTE.—See Note, Table C-25.Data are for production workers in manufacturing and mining, for construction workers in contract

construction, and for nonsupervisory employees in other industries (except as noted). Data are for payperiod which includes the 12th of the month.

The annual figures for 1965 are arithmetic averages of the monthly figures shown and are not strictlycomparable with the averages for earlier years, which are weighted by data on employment.

See Table C-29 for unadjusted average weekly hours in manufacturing.Data for Alaska and Hawaii included beginning 1959.Source: Department of Labor, Bureau of Labor Statistics.

24O


TABLE

Year or month

1929193019311932193319341935 . . .1936193719381939--194019411942194319441945194619471948194919501951 - .19521953195419551956195719581959 - . - -I960 .196119621963196419658 . - --1964: Jan

FebMarAprMayJuneJulyAugSept .OctNov-_Dec.

1965: JanF e bMarApr . - -M a yJune _JulyAugSeptOctNov8.Dec8

C-27.--Average gross hourly earnings in selected industries, 1929-65

Manufacturing

Total

$0,560.546.509.441.437.526.544.550.617.620.627.655.726.851.957

1.0111.0161.0751.2171.3281.3781.4401.561.651.741.781.861.952.052.112.192.262.322.392.462.532.612.512.502.512.522.532.532.532.522.562.522.552.582.582.592.592.602.612.612.612.592.632.632.652.66

Dura-ble

goods

$0,492.467.550.571.580.667.679.691.716.799.937

L.048L. 105L.099L. 144L.2781.395L.453L.519L. 65L. 75L. 861.90.99

2.082.192.262.362.432 492.562.632.712.792.682 682.682.702 702.712.702.702.742.692.722.762.762.772.782.782.792.792.792.772.812.822.832.84

Non-durablegoods

$0,412.419.505.520.519.566.572.571.590.627.709.787.844.886.995

1.1451.2501.2951.3471.441.511.581.621.671.771.851.911.982.052.112.172.222.292.362.282.272.272.282.282.282.292.282.322.302.312.322.332.332.332.342.352.352.362.362.382.382.392.40

Con-tractcon-

struc-tion

i8IIw

$1.5411.7131.7921.8632.022.132.282.392.452.572.712.822.933.083.203.313.413.553.683.573.533.513.533.503.493.523.543.583.613.573.633.623.683.653.613.653.663.643.683.743.763.73

Retailtrade

$

$0,484.494.518.559.606.653.699.797.901.972

1.0151.0501.131.181.251.291.341.401.471.521.571.621.681.741.80

7 1.751.821.731.731.731.741.751.751.751.751.771.771.781.771.791.791.791.801.821.821.821.821.851.861.86

Whole-sale

trade

1$0,610

.628

.658

.674

.688

.711

.763

.828

.898

.948

.9901.1071.2201.3081.3601.4271.521.611.701.761.831.942.022.092.182.242.312.372.452.522.602.482.502.512.512.532.512.522.522.542.542.562.552.562.582.582.592.612.592.602.602.622.632.64

Bitu-minous

coalmining

$0,659.662.626.503.485.651.720.768.828.849.858.854.9601.030L. 101L.1471.199L.357L.582L. 8351.8771.9442.142.222.402.402.472.722.922.933.113.143.12

6 3.128 3.156 3.30

3.493.213.203.203.283.303.32

3.343.353.343.383.373.473.483.463.473.503.51

3.523.503.503.51

Class Irail-

roads 1

1$0,730

.733

.743

.837

.852

.948

.9551.0871.1861.3011.4271.5721.731.831.881.931.962.122.262.442.542.612.672.722.762.80

2.762.802.762.762.782.772.772.812.812.802.852.892.993.032.972.983.012.993.002.99

ii

Tele-phonecom-

munica-tion 2

1$0,774

.816

.822

.827

.820

.843

.870.911

5.9621.1241.1971.2481.3451.3981.491.591.681.761.821.861.952.052.182.262.372.482.562.622.692.602.592.602.592.622.612.602.602.612.652.662.692.672.672.672.682.692.692.672.682.732.732.76

Agri-cul-

ture3

$0.241.226.172.129.115.129.142.152.172.166.166.169.206.268.353.423.472.515.547.580.559.561.625.661.672.661.675.705.728.757.798.818.834.856.880.904.951.962

.827

.897

.915

1.010

.860

.929

.984

1 For coverage of series, see footnote 1, Table C-26.2 Prior to April 1945, data relate to all employees except executives; for April 1945-May 1949, mainly to em-

ployees subject to the Fair Labor Standards Act; and beginning June 1949, to nonsupervisory employees only.3 Weighted average of all farm wage rates on a per hour basis.* Not available.8 Nine-month average, April through December, because of new series started in April 1945.s Eleven-month average; excludes data for July.7 Beginning 1964, data include eating and drinking places. Comparable data excluding eating and

drinking places are $1.87 for 1964.8 Preliminary.NOTE.—See Note, Table C-25.Data are for production workers in manufacturing and mining, for construction workers in contract con-

struction, and for all nonsupervisory employees in other industries (except as noted). Data are for payperiod which includes the 12th of the month.

The annual figures for 1965 are arithmetic averages of the monthly figures shown and are not strictlycomparable with the averages for earlier years, which are weighted by data on man-hours.

Data for Alaska and Hawaii included beginning 1959.Sources: Department of Labor, Bureau of Labor Statistics, and Department of Agriculture.

241


TABLE C-28.—Average gross weekly earnings in selected industries, 1929-65

Year or month

Manufacturing

TotalDura-

blegoods

Non-durablegoods

Con-tractcon-

struc-tion

Retailtrade

Whole-sale

trade

Bitumi-nouscoal

mining

Class Irail-

roads i

Tele-phonecom-mu-nica-tion2

1929.1930..1931.1932..1933..1934..1935.1936..1937..1938..1939..

1941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965 61964: Jan...

Feb.-Mar__Apr_._May-June - -July__Aug._-Sept._Oct...Nov__Dec...

: Jan__.Feb..-Mar._Apr..-May._June.-July..Aug...Sept..Oct...Nov«_Dec«-

1965:

$24.7623.0020.6416.8916.6518.2019.9121.5623.8222.0723.6424.9629.4836.6843.0745.7044.2043.3249.1753.1253.8858.3263.3467.1670.4770.4975.7078.7881.5982.7188.2689.7292.3496.5699.63

102.97107. 2799.90

100.75101.40102.06102. 97103. 73102.97103.07104.19102. 82104.30107. 07105.52105.93106. 71105.82107.53107.79107.01106.45107.83108.62109.71110.92

$26.8424.4220.9815.9916.2018.5921.2423.7226.6123.7026.1928.0733.5642.1748.7351.3848.3646.2251.7656.3657.2562.4368.4872.6376.6376.1982.1985.2888.2689.2796.0597.44

100.35104. 70108.09112.19117.18108.81109.88110.15111.78112. 05113. 28111.51112.32113.98111.10113.42117. 02115.37115.79117.04115.93117.46117. 74116.06115. 51117.18118. 72119. 43120.98

$22.4721.4020.0917.2616.7617.7318.7719.5721.1720.6521.3621.8324.3928.5733.4536.3837.4840.3046.0349.5050.3853.4856.8859.9562.5763.1866.6370.0972.5274.1178.61

82.9285.9387.9190.9194.6488.4689.4489.6790.0690.5290.9791.3791.4391.8792.0092.1793.5092.5092.7393.2092.2094.0094.4794.8795.1195.6895.6896.3297.20

()$58.8765.2767.5669.6876.9682.8686.4188.9190.9096.38100.27103. 78108.41113.04118.08122.47127.19132.06137. 63121.38126.37128.12130. 61133. 00133.32134.11136. 64131.39138.99131. 73133.95131.41131. 38133.96132.49140.16139.08140.50143.15138.75144.01135.40

()$26. 7525.1925.4425.3826.9628.3628.5128.7629.3631.3634.2837.9940.7642.3746.0550.1453.6355.4958.0862.0265.5369.0271.2874.4878.5781.4184.0288.5190.7293.5696.2299.47

102. 56106.0899.70100. 75101. 66101.91102.97102.41103.32102. 56102.87103.38104.45104. 81103.94104. 49105.01105.15106. 75105.93106.60106.60106.90107. 57107. 71

$25.1122.0417.5913.5814.2117.4518.8621.8922.9419.7822.9923.7429.4733.3739.9749.3250.3656.0463.7569.1860.6367.4674.6975.0481.8477.5292.13102.00106.0097.57111.34112.41112.01114.46121. 43128.91139. 71127.12123. 52117. 76123.33128. 70134.13122.84132. 93126.30135.94136. 21138.17138.80138.50137.36137.07141. 40145.67137.11144.67137.90146. 30132.33

()

$31.9032.4734.0339.3441.4946.3646.3250.0055.0360.1162.3664.1470.9374.3076.3378.7482.1288.4094.24101.50106.43108.84112.94115.87118.40121.80(3)

120. 06120. 68118.13119. 78117.87122. 71122.71118. 86123. 08121.24121. 70128. 03126. 78133. 62130.09129.93129.43132.16131.10129. 77

()$30.0331.7432.1432.6732.8834.1436.4538.54* 40.1244.2944.7748.9251.7854.3858.2661.2265.0268.4672.0773.4776.0578.7285.4689.5093.3898.95192. 40105.32108. 68102.18102. 56102. 70101. 79104. 28104.40104.52104. 52109.10108.12109.86108.68106. 53107.07106.27106.66107.87107.33108. 40108.27112.75111.66115. 92

)1 For coverage of series, see footnote 1, Table C-26.2 Prior to April 1945, data relate to all employees except executives; for April 1945-May 1949, mainly to

employees subject to the Fair Labor Standards Act; and beginning June 1949, to nonsupervisory employeesonly.

3 Not available.4 Nine-month average, April through December, because of new series started in April 1945.6 Beginning 1964, data include eating and drinking places. Comparable data excluding eating an d drink-

ing places are $69.94 for 1964.6 Preliminary.NOTE.—See Note, Table C-25.Data are for production workers in manufacturing and mining, for construction workers in contract con-

struction, and for nonsupervisory employees in other industries (except as noted). Data are for payperiod which includes the 12th of the month.

The annuai figures for 1965 are the product of unweighted arithmetic averages of average weekly hoursand average hourly earnings for the months shown and are not strictly comparable with the averagesfor earlier years.

Data for Alaska and Hawaii included beginning 1959.Source: Department of Labor, Bureau of Labor Statistics.

242


TABLE C-29.—Average weekly hours and hourly earnings, gross and excluding overtime, inmanufacturing industries, 1939-65

Year or month

19391940194119421943.194419451946194719481949195019511952 . .1953195419551956195719581959 ._1960196119621963 --19641965*1964: Jan

FebMarAprMay . -June.. - . -JulyAugSeptOctNovDec

1965- JanF e bMarAprMayJuneJulyAug -_SeptOctNov*Dec* ._

All manufacturing industries

Averageweeklyhours

Gross

37.738.140.643.145.045.243.540.340.440.039.140.540.640.740.539 640.740.439 839.240.339 739.840.440.540.741.139.840 340.440.540.741.040.740.940.740.840.941.540.940.941.240.741.241.341.041.141.041.341.441.7

Ex-clud-ing

over-time

0)0)0)(i)( i )0)( i )

0)0)(1)

0)0)(1)0)0)0)37.637.537.237.637.337.437.637.737.637.537.137.637.637.637.737.837.737.637.237.537.637.937.637.637.737.637.737.737.637.637.237.437.537.7

Average hourlyearnings

Gross

$0.627.655.726.851.957

1.0111.0161.0751.2171.3281.3781.4401.561.651.741.781.861.952.052.112.192 262.322.392.462.532.612.512 502.512.522.532.532.532.522.562.522.552.582.582.592.592 602.612.612.612.592.632.632.652.66

Ex-clud-ing

over-time

0)0)

$0.691.793.881.933

3.9491.0351.181.291.341.391.511.591.681.731.791.891.992.052.122.202.252.312.372.442.502.432.422.432.432.442.432.432.422.462.422.452.472.482.482.492.502.502.502.502.492.512.522.532.54

Exclud-ing

over-timeand

inter-indus-

try shift(1957-

59=100)

32.2

0)2 33.42 37.52 40.82 43.72 45.52 50.4

57.863.266.168.273.677.481.684.386.991.596.2

100.2103.5106.6109.6112.3115.2118 0120.8117.2117 3117.4117.7117.8117.8117.9117.9118.7118.1118 7119.2119.7120.0120.1120 4120.6120.8120.9120.7121.7121.8122.20)

Durable goods manufac-turing industries

Averageweeklyhours

Gross

37.939.242.045 046.546.544 040.440.540 439.441.141.541.541.240.141.341.040 339.540.740 140.340.941.1

1 41 442.040.641 041.141.441.541.841.341.641.641.341.742.441.841.842.141.742.142.241.641.741.742.142.242.6

Ex-clud-ing

over-time

(00)0)(1)0)

(00)(1)

0)0)(1)0)0)(1)0)38.037.937.638.037.738.038.138.238.138.137.738.238.238.338,338.438.138.137.937.938.238.438.238.138.338.238.238.237.937.937.737.937.938.2

Averagehourly

earnings

Gross

$0.691.716.799.937

1.0481.1051.0991.1441.2781.3951.4531.5191.651.751.861.901.992=082.192.262.362.432.492.562.632.712.792.682.682.682.702.702.712.702.702.742.692.722.762.762.772.782.782.792.792.792.772.812.822.832.84

Ex-clud-ing

over-time

0)0)

$0.762872.966

1.0191 0311.1111.241 351.421.461.591.681.791.841.912.012.122.212.282.362.422.482.542.602.672.592.592.592.602.602.602.602.592.622.582.612.642.652.652.662.672.662.672.672.652.682.682.692.70

Nondurable goods manu-facturing industries

Averageweeklyhours

Gross

37.437.038.940.342.543.142.340.540.239.638.939.739.539.739.639.039.939.639.238.839.739.239.339.639.639.740.138.839.439.539.539.739.939.940.139.640.039.940.339.739.840.039.440.040.240.240,340.240.240.340.5

Ex-clud-ing

over-time

0)0)0)(i)0)0)(1)

C1)0)0)0)0)(1)OS0)0)37.237.036.637.036.736.836.936.936.837.036.336.836.936.836.937.037.037.036.436.936.937.236.936.937.036.736.937.137.137.136.736.836.937.2

Averagehourly

earnings

Gross

$0.571.590.627.709.787.844.886.995

1.1451.2501.2951.3471.441.511.581.621.671.771.851.911.982.052.112.172.222.292.362.282.272.272.282.282.282.292.282.322.302.312.322.332.332.332.342.352.352.362.362.382.382.392.40

Ex-clud-ing

over-time

0)0)

$0.613.684.748.798

3.841.962

1.111.211.261.311.401.461.531.581.621.721.801.861.921.992.052.092.152.212.262.202.192.202.212.212.202.212.202.232.212.232.242.252.252.252.262.262.262.272.262.282.282.292.30

1 Not available.2 Annual average not available; April used.» Eleven-month average; August 1945 excluded because of VJ Day holiday period.* Preliminary.NOTE.—See Note, Table C-25.Data relate to production workers and are for pay period which includes the 12th of the month.The annual figures for 1965 are arithmetic averages of the monthly figures shown and are not strictly

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

See Table C-26 for seasonally adjusted average gross weekly hours.Data for Alaska and Hawaii included beginning 1959.Source: Department of Labor, Bureau of Labor Statistics.

243


TABLE C—30.—Average weekly earnings, gross and spendable, in manufacturing industries,in current and 1957-59 prices, 1939-65

Year or month

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

196019611962196319641965 3

1964: J a n . . .Feb . . .Mar.. .Apr . . .May_.June . .

J u l y . .Aug...Sept . .Oct_-Nov_.D e c .

1965: Jan...Feb..Mar__Apr_.May.June..

July..Aug..Sep_.Oct..Nov3.Dec 3.

Average gross weeklyearnings

Currentprices

$23.64

24.9629.4836.6843.0745.7044.2043.3249.1753.1253.88

58.3263.3467.1670.4770.4975.7078.7881.5982.7188.26

89.7292.3496.5699.63

102. 97107.27

99.90100.75101. 40102.06102.97103. 73

102.97103.07104.19102.82104.30107. 07

105.52105.93106.71105.82107.53107. 79

107.01106.45107.83108.62109. 71110.92

1957-59prices 2

$48.84

51.1557.4764.5871.4374.5570.4963.7163.2063.3964.92

69.5969.9972.6175.6175.3181.1483.1983.2682.1486.96

87.0288.6291.6193.3795.2597.61

92.7693.6394.1594.6895.5296.05

95.0895.2696.1294.7695.9598.41

96.9097.2797.9096.8298.1197.90

97.1196.7797.8598.3999.2099.93

Average spendable weekly earnings l

Worker with nodependents

Currentprices

$23.37

24.4627.9631.8035.9537.9936.8237.3142.1046.5747.21

50.2652.9755.0457.5958.4562.5164.9266.9367.8271.89

72.5774. 6077.8679.8284.4088.87

81.9882.6583.1683.6884.4085.00

84.4084.4885.3684.2885.4587.63

87.4787.8088.4287.7189.0889.29

88.2189.3289.9590.8391.80

1957-59prices 2

$48.29

50.1254.5055.9959.6261.9758.7254.8754.1155.5756.88

59.9858.5359. 5061.7962.4567.0068.5568.3067.3570.83

70.3971.5973.8774.8178.0880.86

76.1276.8177.2177.6378.2978.70

77.9378.0878.7577.6878.6180.54

80.3280.6281.1280.2581.2881.10

80.4580.1981.0581.4882.1282.70

Worker with threedependents

Currentprices

$23.40

24.7129.1936.3141.3343.7642.5942.7947.5852.3152.95

56.3660.1862.9865.6065.6569.7972.2574.3175.2379.40

80.1182.1885.5387.5892.1896.56

89.6590.3590.8991.4392.1892.81

92.1892.2693.1992.0693.2895.56

95.0995.43

95.3496.7896.99

96.3495.8797.0397.6998.61

1957-59prices 2

$48.35

50.6456.9063.9368.5471.3967.9362.9361.1662.4263.80

67.2666.5068.0970.3970.1474.8076.2975.8374.7178.23

77.7078.8781.1582.0885.2787.86

83.2483.9784.3984.8185.5185.94

85.1285.2785.9784.8585.8187.83

87.3287.6388.1687.2388.3088.09

87.4287.1588.0588.4989.1689.75

1 Average gross weekly earnings less social security and income taxes.2 Earnings in current prices divided by the consumer price index on a 1957-59 base.3 Preliminary.

NOTE.—See Note, Table C-25.Data relate to production workers and are for pay period which includes the 12th of the month.The annual figures in current prices for 1965 are the product of unweighted arithmetic averages of

average weekly hours and average hourly earnings for the 12 months and are not strictly comparablewith the averages for earlier years.1

Data for Alaska and Hawaii included beginning January 1959.


244


TABLE G-31.—Indexes of output per man-hour and related data, 1947—65

[1957-59=100]

YearTotal

private

Output per man-hour

Agri-culture

Non-agri-

culturalindus-tries

Output i

Totalprivate

Agri-culture

Non-agri-

culturalindus-tries

Man-hours

Totalprivate

Agri-culture

Non-agri-

culturalindus-tries

1947..1948-1949..

1950..1951..1952..1953..1954..

1955..1956..1957..1958-1959..

I960..1961..1962..1963..1964..

1965 3

1947.1948.1949.

1950.1951.1952.1953.1954.

1955.1956.19571958.1959

19601961196219631964

1965

Establishment basis2

69.272.174.4

80.682.984.588.090.0

94.094.196.999.7

103.4

105.1108.7113.7117.7121.9

125.3

50.758.957.4

65.365.470.980.284.3

84.888.393.3

103.0104.7

110.3119.0121.4132.6133.8

143.6

74.376.579.5

84.686.387.289.791.7

95.795.197.299.6

103.1

104.4107.4112.3115.4119.5

122.4

67.670.870.6

77.982.884.889.187.9

95.497.298.697.3

104.1

106.7108.7116.0120.6126.9

134.1

82.191.888.9

93.788.991.896.698.6

101.0100.598.1

100.5101.9

105.8107.2106.8110.6107.7

112.6

66.869.769.6

77.082.484.588.787.4

95.197.098.697.1

104.2

106.7108.7116.5121.1127.9

135.2

97.798.294.9

96.799.9

100.4101.397.7

101.5103.3101.897.6

100.7

101.5100.0102.0102.5104.1

107.0

161.8155.8154.8

143.4136.0129.4120.5117.0

119.1113.8105.197.697.3

95.990.188.083.480.5

78.4

Labor force basis 4

67.970.271.9

78.582.184.588.490.8

94.794.697.299.4

103.4

104.6107.4113.0116.5120.2

123.1

50.759.057.0

65.165.070.579.783.8

84.387.893.3

103.1104.6

110.3119.5121.6132.9134.3

144.0

72.974.476.7

82.485.687.690.392.8

96.795.897.799.1

103.1

103.8105.8111.4114.1117.6

119.9

67.670.870.6

77.982.884.889.187.9

95.497.298.697.3

104.1

106.7108.7116.0120.6126.9

134.1

82.191.888.9

93.788.991.896.698.6

101.0100.598.1

100.5101.9

105.8107.2106.8110.6107.7

112.6

66.869.769.6

77.082.484.588.787.4

95.197.098.697.1

104.2

106.7108.7116.5121.1127.9

135.2

99.6100.898.2

99.2100.9100.4100.896.8

100.7102.7101.497.9

100.7

102.0101.2102.7103.5105.6

108.9

161.8155.6156.1

143.9136.8130.2121.2117.6

119.8114.5105.197.597.4

95.989.787.883.280.2

78.2

89.991.187.6

91.095.596.998.995.3

99.4102.0101.497.5

101.1

102.2101.2103.7104.9107.0

110.5

91.693.790.8

93.596.396.598.294.2

98.3101.2100.998.0

101.1

102.8102.7104.6106.1108.8

112.8

1 Output refers to gross national product in 1958 prices.2 Man-hour estimates based primarily on establishment data.3 Preliminary.4 Man-hour estimates based primarily on labor force data.NOTE.—For information on sources and methodology, see Bureau of Labor Statistics (Department of

Labor) Bulletin No. 1249, Trends in Output per Man-hour in the Private Economy, 1909-58.Data for Alaska and Hawaii included beginning 1960.Source: Department of Labor, Bureau of Labor Statistics.

245


PRODUCTION AND BUSINESS ACTIVITY

TABLE C-32.—Industrial production indexes, industry groupings, 1947-65

[1957-59=100]

Year or month

Totalindus-trial

produc-tion i

Manufacturing

Total

Durable manufactures

TotalPri-

marymetals

Fabri-catedmetalprod-ucts

Ma-chinery

Trans-porta-tion

equip-ment

Instru-mentsand re-latedprod-ucts

Clay,glass,and

lumber

Furni-tureand

miscel-laneous

1947..1948..1949-.

1950..1951_.1952-.1953-1954-.

1955_.1956-.1957-.1958-1959-

1960-.1961-1962-_1963_.1964-.

1965 2

1964: Jan. . .FebMarAprMayJune



JulyAugSeptOctNovDec-'

65.768.464.7

74.981.384.391.385.8

100.793.7

105.6

108.7109.7118.3124.3132.3

143.3

127.9128.4129.3130.8131.8132.0

133.3134.0134.0131.6135.4138.1

138. 6139.2140.7140.9141.6142.7

144.2144. 5143.5144.8146.3148.3

66.468.965.1

75.881.985.292.786.3

97.3100.2100.893.2

106.0

108.9109.6118.7124.9133.1

144.9

64.367.060.9

74.183.588.599.988.4

101.9104.0104.090.3

105.6

108.5107.0117.9124.5133.5

148.3

90.794.379.4

99.9108.799.3

112. 591.3

118.4116.4112.287.5

100.4

101.398.9

104.6113.3129.1

137.8

75.977.269.8

85.491.289.0

100.390.2

98.398.8

101.592.9

105.5

107. 6106.5117.1123.4132.7

148.2

65.366.559.0

72.783.092.1

100.587.7

96.5107.1104.288.8

107.1

110.8110.4123.5129.2141.4

160.3

42.946.947.1

56.462.973.191.783.8

102.097.4

106.489.5

104.0

108.2103.6118.3127. 0130.7

148.9

53.755.249.2

57.365.778.185.382.9

88.795.498.092.1

109.9

116.5115.8123.0130.2136.4

151.4

75.879.772.3

87.792.089.392.789.6

100.7102.097.594.1

108.5

105.7104.5109.3114.4121.1

127.4

73.577.471.6

80.282.489.7

97.9101.097.693.3

109.0

113.3114.1124.5129.1138.4

151.7

Seasonally adjusted

128.6 i129.2130.1 !131.7 !132.6 I132.7 I

134.2134.9134.8132.0136.4139.4

140.2140.8142.3142.4143.1144.1

145.7146.0145.2146.3147.9150.1

128.3129.1130.3131.8133.1133.6

135.4136.2135. 3129.9137.0140.9

142.0142.7144.8145.5146.4148.1

150.0150.5148.2 !149.7 I151.3 !154.7 j

113.7118.7122.1123.4129.0126.3

131.8134.4132.9133. 6136.1138.6

139.6136.9140.4141.4140.2143.0

148.7146. 5131.2123. 3121.1128

128.3129.1129.4131.0131. 3132.0

133.4134.9134.3130.7136.9139.7

140.6145.0145.2147.4146.0146.4

148.0147.5147.0149.5154.2157

135.0133.7136.2137.8138.7140.5

142.2143.2144.4145. 2147.7150.1

150.7152. 5153.9155. 4156.9159.0

160.6161.4162.3165.6167.3170

130.8131.1130.1133.0134.3135.5

135.3135.9131.3105. 3129. 2140.3

141.4139.7144.4144.6147.3149.5

149.8151.5149.4153.6156.0159

132.2133.6134.2134.7134.6134.8

136.4137.4138.6137.6140.2142.0

142.7145.3146.9145. 5147.0149.8

152.1152.6155.7158.0159.2161

117.9121.6121.9121.6120.9120.1

122.6121.4120.7121.0120.9121.1

124.9125.9126.0124.1125.5124.7

126.3127.5127.3128.5129.1135

133.0133.9134.7135.6136.2138.0

138.5139.0138.4141.7143.4145.4

145.2147.6148.4149.5150.1150.3

149.7151.5152.0155.1158.0160


246


TABLE C-32.—Industrial production indexes, industry groupings, 1947—65—Continued

[1957-59=100]

Year or month

July.Aug-Sept.Oct.-.Nov_Dec.

1965: Jan. . .Feb . .Mar_.Apr--May. .June. .

Ju ly . .Aug--Sept...Oct..-Nov_-Dec2 .

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

1965 2

1964: J a n . . .Feb.-Mar_.Apr..May_June_

Manufacturing

Nondurable manufactures

Total

67.269.568.3

76.078.580.083.683.6

91.695.496.796.8

106. 5

109.5112.9119.8125.3132.6

140.6

Textile,apparel,

andleather

products

81.084.580.6

89.187.489.590.7

95.598.096.995.0

108.1

107.5108.4115.1118.5125.2

135.8

Paperand

printing

66.769.469.3

76.779.477.782.685.0

92.597.197.897.0

105.2

109.0112.4116.7120.1127.5

135.1

Chem-ical,

petro-leum,and

rubberproducts

47.550.849.4

60.767.469.975.274.7

86.891.495.695.5

108.9

113.9118.9131.2141.8152.5

164.7

Foods,bever-ages,and

tobacco

80.780.0

83.685.487.388.289.8

93.196.696.799.4

103.9

106. 6110.2113.3116.8120. 8

123.0

Mining

Seasonally adjusted

79.984.074.5

83.291.390.592.990.2

99.2104.8104.695.699.7

101.6102.6105.0107.9111.3

114.5

Utilities

128.9129.3129.9131.5131.9131.5

132.8133.2134.2134.6135.6137.6

137.9138.4139.1138.5138.8139.0

140.4140.4141.3142.0143.6144.4

121.1121.5121.3122.4123.8123.2

125.5126.4127.0128.9130.2131.5

133.3133.8133.7133.9135.0134.5

134.7134.1135.5137.0138.8141

123.5124.5125.4127.5128.2126.6

128.0127.9127.4128.8128.2132.1

132.0131.8132.9133.2134.2134.0

135.9136.4135.4135.8137.9139

146.3147.1148.0150.3150.6152.1

152.8154. 0157.1156.2156.2158.5

158.2160.4162.0160.8161.2161.6

164.1164.9166.9167.8169.3170

120.3119.6120.2121.0120.7119.5

120.5120.2120.4120.5123.3123.9

124.2123.4123.7122.4121.5122.3

122.9122.3123.1123.0124.2125

109.4109.6109.4110.3111.7111.9

111.7112.1112.2112.0112.8112.5

111.8111.8112.5113.0114.0115.3

116.0117.0112.6115.9116. 5118

I

36.540.843.4

49.556.461.266.871.8

80.287.993.998.1

108.0

115.6122.3131.4140.0151.3

161.4

145.6145.1146.6148.5150.3151.8

152.7153.9155.0154.9155.4157.1

154.9156.1158.5159.9160.4162.5

161.6161.9165.3165.7166.5167

1 Annual indexes for 1929-46 are, respectively: 38.4, 32.0, 26.5, 20.7, 24.4, 26.6, 30.7, 36.3, 39.7, 31.4, 38.3,43.9, 56.4, 69.3, 82.9, 81.7, 70.5, and 59.5.

2 Preliminary.

Source: Board of Governors of the Federal Reserve System.

247


TABLE C-33.—Industrial production indexes, market groupings, 1947-65

[1957-59 = 100]

Year or month

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

1965 2

1964: JanFebMarAprMay..June

JulyAug. .SeptOctNovD e c .


July.AugSeptOctNovDec 2

Totalindus-trialpro-duc-tion

65.768.464.7

74.981.384.391.385.8

96.699.9

100.793.7

105.6

108.7109.7118.3124.3132.3

143.3

Final products

Total

64.266.664.5

72.878.684.389.985.7

98.199.494.8

105.7

109.9111.2119.7124.9131.8

142.4

Consumer goods 1 Equipment

Total

67.169.268.8

78.677.879.585.084.3

93.395.597.096.4

106.6

111.0112.6119.7125.2131.7

140.3

Auto-motiveprod-ucts

69.472.672.0

90.680.172.191.385.0

118.397.8

105.286.7

108.1

123.2111.8131.1141.2145.1

167.1

Homegoods

Total,includ-

ingdefense

68.871.766.3

91.478.778.890.286.0

97.3100.996.692.8

110.7

110.8112.2122.2129.6141.1

154.8

55.458.352.0

56.478.494.1

100.588.9

95.0103.7104.691.3

104.1

107.6108.3119.6124.2132.0

146.8

Busi-ness

72.663.5

68.083.194.196.685.1

91.9104.7105.389.8

104.9

110.2110.1122.1128.3139.1

156.5

Materials

Total

67.070.264.8

76.983.884.392.685.9

99.0101.6101.992.7

105.4

107.6108.4117.0123.7132.8

144.2

Dur-able

goods

68.271.064.2

79.587.888.9

100.788.4

104.7105.3104.890.0

105.1

106.6104.8114.1121.2131.2

144.3

Non-durablegoods

64.968.264.2

73.378.879.084.183.3

93.097.798.995.4

105.7

108.7112.2120. 0126.3134.3

144.1

Seasonally adjusted

127.9128.4129. 3130.8131.8132.0

133.3134.0134.0131.6135.4138.1

138.6139.2140.7140.9141.6142.7

144.2144.5143.5144.8146.3148.3

128.9128.5128.6131.0131.4131.9

132.3133.1132.8130.5135.2138.1

138.4138.5140.1139.4140. 2140.7

141.7142.3143.3145.3147.3148.1

129.4129.1128.5131.1131.4131. 7

132.2133.1132.5129.5134.5138.0

138.4138.0140.0138.5138.6138.7

139.3139.5140.7141.3143.0143.9

146.6145.5144.3149.3151. 2151.8

152.6155.8144.7105.9143.0166.2

165.7163. 8173.1166.9168.1168.1

167.8169.8166.5168.4169.2169

135.6137.6137.2138.7137.7138.8

140.9141.7140.6144.0147.7150.5

151.7152.7154.0152.1151.8151.3

151.2149.8153. 0156.0159.2

127.8127.2128.9130.8131.4132.1

132. 5133.2133.5132.5136.7138.4

138.2139.4140.4141.2143.7144.9

147.0148.4149.0153.9156.5157.3

132.8132.0134.3136.6138.1139.1

140.0141.1141.4140.6146.1148.5

147.7149.2150.1150.9153.5154.6

156.4157.8159.0163.8166.7167

126.7128.4129.5131.1132.2132.4

134.5135. 3135.6132.6135. 9138.0

138.8139.7141.7142.6142.6144.5

146.4146.1143.7144.3145.8148.6

123.0126.1127.8129.5131.1131.7

133.8135.2135. 3128.6134.9136.8

138.0139.0142.6142.9143.4146.1

148.4147.3142.8142.1143.8147

130.6130.8131.2132.7133.3133.2

135.2135.3135.8136.7137.0

139.5140.5140.6142.4141.8143.4

145.0144.8144.5147.2147.9150

1 Also includes apparel and consumer staples, not shown separately.2 Preliminary.Source: Board of Governors of the Federal Reserve System.

248


TABLE C—34.—Manufacturing capacity, output, and utilization rate, 7948-65

19481949

19501951195219531954

19551956195719581959

19601961196219631964

19653

1961* IIIIIIIV

1962- IIIIIIIV

1963- IIIIIIIV

1964- IIIIIIIV

1965- IIIIIIIV 3

Period Capacity *

8084

879094100104

108113119122126

131134139145151

160

Output(1957-59=

100)

6965

7682859386

9710010193106

109110119125133

145

Utilizationrate

(percent) 2

Seasonally adjusted

133134135136

137138139141

142144145147

148150152154

156159161163

103108112115

117119120120

121125126127

129132135136

141143146148

8678

8891909383

9088857684

83

868688

91

78818385

85868685

85878787

87888988

90909191

1 For description and source of data see Frank de Leeuw "The Concept of Capacity," Journal of the Ameri-can Statistical Association, December 1962, vol. 57, pp. 826-84, and Peter Gajewski "Manufacturing CapacityMeasures and Current Economic Analysis," a paper presented at the 1964 American Statistical AssociationMeetings. See also McGraw-Hill surveys on "Business Plans for New Plants and Equipment" for dataon capacity and operating rates.

2 Output as percent of capacity; based on unrounded data,s Preliminary.

Source: Board of Governors of the Federal Reserve System (output) and sources in footnote 1 (capacityand utilization rate).

249


TABLE C-35.—New construction activity, 1929-65[Value put In place, millions of dollars]

Year or month

Totalnewcon-

struc-tion

Private construction

Total

Residentialbuilding

(nonfarm)

TotalNewhous-ing

units

Nonresidential building andother construction

TotalCom-mer-cial2

In-dus-trial

Other«

Public construction

TotalFed-eral

Stateandlocal

1929.1930.1931.1932.1933.1934.1935.1936.1937.

1939 ...19401941194219431944194519461946 new series *.1947194819491950195119521953195419551956195719581959I960. . . -19611962196319641965*

1964: J a n . . . .F e b . . .M a r . .Apr._.May. . .June. . .J u l y . .Aug__.Sept. . .Oct. .- .Nov_..Dec

1965: Jan. ._ .F e b . . .Mar_..

May . .June.- .Ju ly . . .A u g . . .Sept. . .Oct—.Nov «..Dec«. .

10, 7938,7416,427

2,8793,7204,2326,4976,9996,9808,1988,682

11,95714,0758,3015,2595,809

12, 62714,30820,04126,07826, 72233, 57535,43536,82839,13641, 38046, 51947, 60149,13950,15355,30553,94155, 44759, 57662, 75565,81768,112

65, 02466, 01166,23566,85065,54966,36166,38465,48065,96864,86165,15366,17866,16866,94767,64667,60667,57268,950

67,95369,31167,61669,34969,330

8,3075,8833,7681,6761,2311,5091,9992,9813,9033,5604,3895, 0546,2063,4151,9792,1863,41110,39612, 07716, 72221, 37420, 45326, 70926,18026, 04927, 89429, 66834,80434, 86935, 08034,69639,23538,07838,29941, 70743,85945,89147,878

3,6252,0751,565630470625

1,0101,5651,8751,9902,6802,9853,5101,715885815

1,2764, 7526,2479,85013,12812, 42818,12615, 88115,80316, 59418,18721,87720; 17819,00619, 78924,25121, 70621,68024, 29225,84326, 50726, 647

3,0401,5701,320485290380710

1,2101,4751,6202,2702,5603,0401,440710570720

3,3004,7957,76510,50610,04315, 55113, 20712, 85113,41114, 93118, 24216,14314, 73615,44519, 23316,41016,18918, 63820,06420,61220, 723

4,6823,8082,2031,046

761884989

1,4162,0281,5701,7092,0692,6961,7001,0941,3712,1355,6445,8306,8728,2468,0258,583

10, 29910, 24611,30011, 48112, 92714, 69116,07414,90714, 98416,37216, 61917,41518,01619,38421,231

1,1358934542231301732112903872852923484091553356

203,153,153957

,397,1821,415, 498[,1371,7912,2123,2183,6313,5643,5893,9304,1804,6744,9555,2005,6566,434

94953222174

176191158266492232254442801346156208642

1,6891,6891,7021,397

9721,0622,1172,3202,2292,0302,3993,0843, 5572,3822,1062,8512,7802,9492,9623,3034,010

2,5982,3831,528749455520620860

1,1491,0531,1631,2791,4861,199905

1,1071,2902,8022,9884,2135,4525,8716,1066,6846,7897,2807,2397,3107,9768,9538,9368,9489.3419,1659,5119,85410,42510,787

2,4862,8582,6591,8621,6482,2112,2333,5163,0963,420

3,6285,751

10,6606,3223,0732,3982,2312,2313,3194,7046,2696,8669,255

10, 77911,24211, 71211, 71512, 73214,05915,45716,07015,86317,14817,86918,89619,92620,234

235313506444802

1,3471,3812,3631,8932,0372,1362,1284,4489,7885,8772,6311,8361,1091,1091,2491,5941,9492,0783,4454,7354.8394,1033,5083,5834,2435,4936,4355,8896,3056,4697,1207,3117,068

Seasonally adjusted annual rates45,77846,42246, 80346,54746,08746,16846,08845,50845,57145,29445,36845,68446, 44646,91247,21947,56047,98248,616

48,19448,06847, 84448,04548,394

26,99327,44327,80327,40626,75926,58626, 55126,25225,93425,68525,63825,95326,67626, 71326,60226,67527, 07027,22426,98326,62126,41326,34326,195

21,08521,56921,93121,50520,83420,65820,61720,31420,00319,80119,81220,16120,84520,86620,73520,76221, 07721,20320,99020,65720,49120,41620,29220.329

18, 78518,97919,00019,14119,32819, 58219, 53719,25619,63719,60919,73019, 73119, 77020,19920,61720,88520,91221,39221,62021,57321,65521,50121,85022,155

5,5665,6575,7085,6945,7465,7425,6425,4935,5875,6535,7095,6415,6625,7015,9036,0896,2546,5746,8266,8156,7546,5296,6757,029

3.1033,1223,1463,1463,1993,2183,2803,3613,4003,4453,5213,6103,7923,8713,9343,9974,0124,0404,0734,0964,1144,0994,050

10,11610,20010,14610,30110,38310,62210,61510,40210,65010,51110,50010,48010,31610,62710,78010, 79910,64610, 77810,72110,66210,78710,87311,12511,128

19,24619.58919,43220,30319,46220,19320,29619,97220,39719,56719,78520,49419,72220,03520,42720,04619.59020,33419,99619,75921,24319,77221,30420,936

2,2512,5452,1531,418846864852

1,1531,2031,3831,6731,5001,303872445442562

1,1221,1222,0703,1104,3204,7885,8106,0446,4037,6098,2079,1499,8169,9649,6359,97410,84311,40011,77612, 61513,166

1 Total includes additions and alterations and nonhousekeeping units not shown separately.2 Office buildings, warehouses, stores, restaurants, and garages.3 Farm, institutional, public utilities, and all other private.4 New series differs from old in that it reflects differences in 1946 due to the new higher level series of hous-

ing starts and farm construction expenditures and the new reduced level value in place series for publicutility construction. See Construction Report C8O-61 (Supplement) for a description of the differences.

« Preliminary.8 Not available on a seasonally adjusted basis.



250


TABLE C-36.—Business expenditures for new plant and equipment, 7939 and 7945-66


Year or quarter

1939

19451946 - . . .194719481949

19501951 - .195219531954 _ _

19551956195719581959

19601961196219631964 . .

19653

1963: IIIIIIIV _ .

1964: I . -I IIIII V

1965: IIIIIIIV 3

1966: 13113

Total i

5.51

8.6914.8520.6122.0619.28

20.6025.6426.4928.3226.83

28.7035.0836.9630.5332.54

35.6834.3737.3139.2244.90

51.83

Manufacturing

Total

1.94

3.986.798.709.137.15

7.4910.8511.6311.9111.04

11.4414.9515.9611.4312.07

14.4813.6814.6815.6918.58

22.51

Dura-ble

goods

0.76

1.593.113.413.482.59

3,145.175.615.655.09

5.447.628.025.475.77

7.186.277.037.859.43

11.34

Non-durablegoods

1.19

2.393.685.305.654.56

4.365.686.026.265.95

6.007.337.945.966.29

7.307.407.657.849.16

11.18

Mining

0.33

.38

.43

.69

.88

.79

.71

.93

.98

.99

.98

.961.241.24

.94

.99

.99

.981.081.041.19

1.30

Transportation

Rail-road

0.28

.55

.58

.891.321.35

1.111.471.401.31.85

.921.231.40

.75

.92

1.03.67.85

1.101.41

1.68

Other

0.36

.57

.921.301.28.89

1.211.491.501.561.51

1.601.711.771.502.02

1.941.852.071.922.38

2.83

Publicutili-ties

0.52

.50

.791.542.543.12

3.313.663.894.554.22

4.314.906.206.095.67

5.685.525.485.656.22

6.84

Com-mer-cialand

other»

2.08

2.705.337.496.905.98

6.787.247.098.008.23

9.4711.0510.409.81

10.88

11.5711.6813.1513.8215.13

16.66


36.9538.0540.0041.20

42.5543.5045.6547.75

49.0050.3552.7554.85

56.70

58.85

14.8515.3015.9516.45

17.4017.8018.8520.15

20.7521.5523.0024.35

24.70

25.85

7.357.658.008.30

8.859.009.60

10.15

10.4010.8011.7512.20

12.40

13.25

7.507.658.008.15

8.558.809.20

10.00

10.4010.7011.2512.15

12.25

12.60

1.051.001.051.05

1.151.151.201.30

1.251.301.251.40

1.35

0.901.001.201.35

1.40L.25

501.55

.751.55L.70I 70

1.80

1.702.051.852.10

2.302.252.402.60

2.552.703.003.10

3.90

5.205.455.905.80

5.956.306.306.35

6.806.856.756.95

7.65

13.2513.3014.0514.50

14.3514.7515.4015.80

15.8516.4017.0017.30

17.3033.00

1 Excludes agriculture.2 Commercial and other includes trade, service, finance, communications, and construction.3 Estimates based on anticipated capital expenditures reported by business in late October and Novem-

ber 1965. The quarterly anticipations include adjustments, when necessary, for systematic tendencies inanticipatory data.

NOTE.—Annual total is the sum of unadjusted expenditures; it does not necessarily coincide with theaverage of seasonally adjusted figures.

These figures do not agree precisely with the plant and equipment expenditures included in the grossnational product estimates of the Department of Commerce. The main difference lies in the inclusionin the gross national product of investment by farmers, professionals, institutions, real estate firms, and ofcertain outlays charged to current account.

These series are not available for years prior to 1939 and for 1940 to 1944.

Sources: Department of Commerce (Office of Business Economics) and Securities and ExchangeCommission.

251


TABLE C-37.—New housing starts and applications for financing, 1929-65

[Thousands of units]

Year ormonth

1929

19301931193219331934

19351936193719381939

19401941194219431944

New Series19451946194719481949

1950 .1951.195219531954

19551956195719581959

196019611962. . _19631964

1965 8

Housing starts

Totalprivate

andpublic

(in-clud-ing

farm) *

- - - - - - -

1, 553.5

1,296.01,365.01,492.41,640.91, 590.8

1,540.7

Totalprivate

(in-clud-ing

farm)

1, 516. 8

1,252.11,313.01, 462.81,609.21, 557.4

1,503.0

Pri-vateand

publicnon-farm

509.0

330 0254.0134 093.0

126.0

221.0319.0336 0406.0515.0

602.6706.1356.0191.0141.8

326.11,023.21,268.51,362.11,466.1

1,951.91,491.01,503.91,437.61, 550. 5

1,646.01,349.11,223.91,382.01, 531.3

1,274.01,336.81,468. 71,613. 51, 563.8

1,518.3

Private nonfarm

Total i

509.0

330 0254.0134 093.0

126.0

215.7304.2332 4399.3458.4

529.6619.5301.2183 7138.7

324 91,015.21,265.11,344 01,429.8

1,908.11,419.81,445 41,402 11, 531.8

1,626 61,324.91,174 81,314.21, 494. 6

1,230.11,284.81,439.11, 581. 7I, 530.4

1,480.6

One-family

316.0

227 0187.0118 076.0

109.0

182.2238.5265 8316.4373.0

447.6533.2252.3136.3114.6

1,211.9

972.9946.4967.8993.2944.5

942.1

Twoor

morefami-lies

193.0

103 067.016 017.017.0

33.565.766 682.985.4

82.086.348.947.424.1

282.7

257.2338.6471.1588.5585.9

538.5

Totalprivate

(in-clud-ing

farm)

1, 516.8

1,252.11,313.01,462.81,609.21, 557.4

1,503.0

Private nonfarm

Total

509.0

330.0254.0134.093.0

126.0

215.7304.2332 4399.3458.4

529.6619.5301.2183.7138.7

324.91,015.21,265.11, 344. 01,429.8

1,908.11,419.81,445.41,402.11,531.8

1,626.61,324.91,174.81,314.21,494. 6

1,230.11,284.81,439.11, 581.71, 530.4

1,480.6

Govern-ment homeprograms

FHA

13.248.857 0

106.8144.7

176.6217.1160.2126.183.6

38.967.1

178.3216.4252.6

328.2186.9229.1216.5250.9

268.7183.4150.1270.3307.0

225.7198.8197.3166.2154.0

159.9

VA

«8.891.8

160.371.190.8

191.2148.6141.3156.5307.0

392.9270.7128.3102.1109.3

74.683.377.871.059.2

52.6

Newprivatehousing

unitsauthor-ized 2

—

- -

1,208.3

998.01,064.21,186.6

21,334.71,285.8

1,240.1

Proposedhome con-struction >

Ap-plica-tionsfor

FHAcom-mit-

ments

«20 647.849 8

131.1179.8

231.2288.5238.5144.462 9

56.6121.7286.4293.2327.0

397.7192.8267.9253.7338.6

306.2197.7198.8341.7369.7

242.4243.8221.1190.2182.1

188.9

Re-quests

forVAap-

prais-als

164.4226.3251.4535.4

620.8401.5159.4234.2234.0

142.9177.8171.2139.3113.6

102.1


252


TABLE C--37.-—New housing starts and applications for financing, 1929-65—Continued

[Thousands of units]

Year ormonth

1964: JanF e b — .Mar__.AprMay...June...July.-.AugSept-_.OctNov__.Dec

1965: JanFeb.—Mar__.AprM a y _ -June...July__.Aug..-_Sept . . .OctNov 6_ -Dec e...

Housing starts

Totalprivate

andpublic

(in-clud-ing

farm) i

101.7102.2133.5152.0158.3164.9

146.0145.7127.4146.1114.698.3

85.687.9

124.9154.9162.1162.3

143.9138.0125.9135.7117.6101.9

Totalprivate

(in-clud-ing

farm)

100.3101.3130.3148.2155.4159.4

143.5142.3124.0144.0112.096.7

81.585.4

120.7152.2157.5155.5

141.3134.6124.3133.6115.4101.0

Pri-vateand

publicnon-farm

100.499.7

131.8149.3156.0162.2

143.8143.2125.3143.5112.496.4

84.287.1

123.0152.8159.8159.6

141.6136.2124.3133.0116.3100.3

Private nonfarm

Total i

99.098.7

128.6145.5153.0156.7

141.2139.7121.9141.4109.994.8

80.184.7

118.8150.1155.2152.8

139.0132.8122.7130.9114.199.4

One-family

53.961.180.386.396.399.3

89.687.577.089.367.356.7

50.450.774.897.799.997.0

91.886.578.484.469.960.6

Twoor

morefami-lies

45.137.648.369.256.757.4

51.652.244.952.142.638.1

29.734.044.052.455.355.8

47.246.344.346.544.238.8

Totalprivate

(in-clud-ing

farm)

Private nonfarm

Total

Govern-ment homeprograms

F H A VA

Newprivatehous-

ingunits

au-thor-ized 2

Proposed

home con-struction *

Ap-plica-tionsfor

FHA

mit-ments

Re-quests

forVAap-

prais-als


1,7761,7501,593L, 5321,518L, 621

L, 500L, 5131,4451,5221,5051,610

1,4421,4821,4891,5521,5161,566

1,4731,4271,4531,4111,5371,746

1,7531, 7061,5711,5061,4961,593

1,4751,4891,4221,4951,4801,575

1,4171,4681,4651,5321,5011,539

1,4471,4091,4361,3801,5211,712

158192165146174152

145142136146152151

168171166147160154

151146154164171186

758368606160

565252505753

696969515654

514644465349

1,3241,4121,3791,2881,2801,305

1,2641,2851,2431,2361,2561,195

1,2801,2241,2691,1871,2401,254

1,2431,2171,1801,2591,2821,319

178193190190173177

162176174183194193

202203184190183155

168184187192229229

13813512411199

103

10988

121112118118

113124110

95109

93

92899897

105117

1 Military housing starts, including those financed with mortgages insured by FHA under Section 803of the National Housing Act, are included in publicly financed starts but excluded from total private startsand from FHA starts.

2 Data beginning 1963 cover approximately 12,000 permit-issuing places. Data for 1959-62 are based onreports from approximately 10,000 places. In 1963, the additional 2,000 permit-issuing places accountedfor almost 50,000 new privately owned housing unit authorizations.

3 Units in mortgage applications or appraisal requests for new home construction.< FHA program approved in June 1934; all 1934 activity included in 1935.5 Monthly estimates for September 1945-May 1950 were prepared by Housing and Home Finance Agency.« Preliminary; data for 1965 partly estimated by Council of Economic Advisers.

NOTE.—Census series beginning 1945 include Alaska and Hawaii. FHA and VA series include Alaska,Hawaii, and Puerto Rico for all periods.

Seasonally adjusted Census data, and some of the unadjusted data, have been revised beginning April1960. See Housing Starts C20-65-5, May 1965 for the seasonally adjusted data.

Sources: Department of Commerce (Bureau of the Census), Federal Housing Administration (FHA),and Veterans Administration (VA), except as noted.

253795-983 O—66- -17


TABLE C-38.—Sales and inventories in manufacturing and trade, 1947-65

[Amounts in millions of dollars]

Year or month

1947..1948-1949..

1950..1951..1952..1953..1954..

1955..1956-1957..1958-1959-

1960-1961-1962-1963-1964-

1965 « s

1964: JanF e b . . . .Mar . . . .AprMay. ._June

J u l y - . .Aug-_-S e p t . . .OctNov-_ _Dec . . . -

1965: J a n . . . .F e b . . . .Mar . . . .AprM a y . . .June- - -

J u l y . . .A u g —S e p t . . .OctNov.5_.Dec.s_.

Total manufactur-ing and trade

Sales i

35,26033, 788

38, 59643,35644,84047,98746, 443

51,69454,06355,87954,23359, 583

69,53060,74865,078 100,68,002 105,72,647

Inven-tories2

52, 50749,497

59, 82270,24272,37776,12273,175

79,51687,30489,05286,92291,964

94,61095,57600, 271,127

110,535

78,648 118, 296

Ratio 3

1.421.53

1.361.551.581.581.60

1.471.551.591.601.51

1.561.551.511.501.48

1.46

Manufacturing

Sales i

15,51317,31616,126

18,63421, 71422,52924,84323,355

26,48027,74028,73627,28030, 219

30,79630,88433,30834,77437,129

40,300

Inven-tories2

25,89728,54326,321

31, 07839,30641,13643,94841,612

45.06950,84251,87150.07052,707

53,81455,08757,75360,14762,944

67,100

Ratio 3

1.581.5"1.75

1.481.661.781.761.81

1.621.731.801.841.70

1.71.741.701.1.64

1.61

Merchantwholesalers

Sales1 Inven-tories2

6,514

7,6958, 5978,7829,052

9,89310,51310,47510, 25711,413

11,44011,62912,15812,69213,715

14,789

Ratio 3

7,9577,706

9,2849,88610, 21010,68610, 637

11,67813, 26012, 73012,73913,952

13,98314, 25114,58015,59716,461

17,684

1.131.19

1.07.16.12.17.18

.13

.19

.23

.24

.23

.21

.19

.18

.1

1.17

Retail trade

Sales i

10,20011,13511,149

12,;13,04613, 52914,09114, 095

15,32115,81116,66716, 69617,951

18,29418, 23419,61320,53621,802

23, 559

Inven-tories2

14,24116,00715,470

19,46021, 05021, 03121,48820,926

22,76923,40224,45124,11325,305

26,81326, 23827,93829,38331,130

33,533

Ratio 3

1.261.391.41

1.381.641.521.531.51

1.431.471.441.431.40

1.451.431.381.391.40

1.39

Seasonally adjusted

70,992 105, 55171, 013 105, 74670,649 106, 05671,787 106,"""72,660 10772,187

73,69373, 20473, 358 198;72,13173, 37176, 277

78,891

i, 722',083

107,270

107,372107, 613198, 504108, 539109, 320110, 535

111,465111, 884

032

75,91375,956 111,77,815 113,03277,529 113,77,884

!,761114,542

78,010 115,049

80, 023 116, 012116, 683

78,883 116,96779,502 117,65380,963 118, 296

1.491.491.501.491.471.49

1.461.471.481.501.491.45

1.471.471.451.471.471.47

1.451.481.481.481.46

36,67736,23536,22237.16737,18636, 791

37,96337.16837, 31236,81137, 51439,318

38, 88538,69340,28540,04439,81439,943

41,45240, 51840,17340, 54841, 447

60, 00660,12360,32660, 53160, 52860,398

60,48860, 76361,01961, 77762,37762, 944

63,21363,38263,70863,99964,26964,625

65,39465, 78866, 26766,64267, 079

1.1.1.671.631.1.64

1.591.631.641.1.661.60

1.631.641.581.601.611.62

1.581.621.651.641.62

13,31513,24513,20413, 22813,69713, 623

13, 79513, 77013,79213,93714,19614,178

14,12813,94614,72514,62014,71814,736

14.82814.82914,93614,99515, 503

15,81815, 71915, 73415,87916,05316, 043

16,01715, 98616,22216,27616, 38416, 461

16, 77416,86717,06417,21617,45017,410

17, 53017, 53517,65517, 71517,684

1.191.191.191.201.171.18

1.161.161.181.171.151.16

1.191.211.161.181.191.18

1.181.181.181.181.14

21, 00021, 53321,22321,39221,77721, 773

21,93522, 26622, 25421,38321, 66122, 7S1

22,90023,31722,80522,86523,35223,331

23, 74323, 54423, 77423,95924,01324,303

29,72729,90429,99630,31230,50230,829

30,86730,86431, 26330, 48630, 55931,130

31, 47831,63532,26032,54632,82333,014

33,36033,04533, 29633, 533

1.421.391.411.421.401.42

1.411.391.401.431.411.37

1.371.361.411.421.411.42

1.391.421.391.391.40

1 Monthly average shown for year and total for month.2 Seasonally adjusted, end of period.3 Inventory/sales ratio. For annual periods, ratio of weighted average inventories to average monthly

sales; for monthly data, ratio of inventories at end of month to sales for month.* Where December data not available, data for year calculated on basis of no change from November.s Preliminary.

NOTE.—The inventory figures in this table do not agree with the estimates of change in business inven-tories included in the gross national product since these figures cover only manufacturing and trade ratherthan all business, and show i ventories in terms of current book value without adjustment for revaluation.

Data for Alaska and Hawaii included beginning 1958 for manufacturing, beginning 1960 for retail trade,and beginning 1961 for merchant wholesalers.

Source: Department of Commerce (Office of Business Economics and Bureau of the Census).

254


T A B L E G—39.—Manufacturers' shipments and inventories, 1947-65

[Millions of dollars]

Year or month

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

1965 3

1964: Jan,_Feb.-Mar. .Apr. .May.June.

July_.Aug..Sept_Oct . .Nov.Dec_-

1965: Jan_.Feb . .Mar..Apr._May.June.

Total

JulyAugSeptOctNov4

Dec*. . . .

Shipments l

Dur-able

goodsindus-

tries

15,51317,31616,126

18,63421,71422, 52924,84323,355

26,48027,74028,73627,28030, 219

30,79630,88433,30834,77437,129

40,300

Non-durable

goodsindus-tries

6,6947,5797,191

8,84510,49311,31313, 34911,828

14,07114, 71515,23713, 57215,544

15,81715,53217,18418,07119,231

21,100

11,216 41,11,494 43,11. 527

Inventories 2

Total

8,819 25,8979, 738 28,5438,935 26,321

789 31,078 15,539221 39,306 20,991

23, 73125, 878

41,612 23,710

12,409 45,069 26,13. 025 50, 642 30,13,499 51,87113, 708 50,070 30,14,675 52, 707 31

15, 35216,124

Durable goods

Total

13,06114,66213,060

4051,447

31, 7281,095,839

14,979 53,814 32,360

16,704160,

55,087132,64657, 753;34,326

36,02817,898 62,944 38,412

19, 200 67,100 41, 800

Mate-rialsandsup-plies

8,9667,894

9,19410,41710,6089,84'

10,585

10,28610,23410,57110, 87911,688

12, 900

Work

10,7209, 721

10,75612,31712,83712,29412,952

12,78013, 22514,12914,85715, 933

17,700

Fin-ishedgoods

Total

12,836

Nondurable goods

,13,88113,26115,53918,31517,405

206 18,070040 17,902

6,348 18, 664565 20,195125 20,143749 19,975143 20,868

1,4542,4413427

9,9,088 22,9, 593 23,427

10, 292 24,11910, 791 24,532

11,200 25,300

Mate-rialsandsup-plies

8,3178,167

8,5568,9718,7758,6719,089

9,1139,5119, 7709,7699,619

9,800

Work

2,4722,440

2,5712, 7212,8642,8002,928

2,9353,1203,3043,4793, 522

3,800

Fin-ishedgoods

7,4097,415

7,6668, 6228,6248,4988,857

9,3539, 70710,24610.87111,391

11,700

Seasonally adjusted

36,67736,23536,22237.16737,18636,791

37,96337.16837,31236,81137,51439, 318

38, 88538, 69340, 28540,04439, 81439,943

41, 45240, 51840,17340, 54841,447

19,14419,02718,88719,35919,13819,023

19,86119,16419,28418,63319,29120, 559

20, 41520,37421, 28420,91520, 51320,652

21,82021,19120,92421,14621,61021, 884

533 60,006208 60,123335 60,326808 60, 531

35,97035,96036,07936,277

048 60, 528 36,300398 36,492

17,

r17,17,18,17, 768 W,18,102 60, 488 36,18,004 60, 763 36,18,02818,178 6118,22318,7."759 62,

61,019 3'" . 777:,3712,944

i, 597i,79017,03737,517

7 38,04038,412

18, 470 63, 213 38,18,319 63,19, 00119,129 63,999 39,19,30119, 291 64; 625 39,

63,38263, 708

19, 632 65,394 40,19, 327 65,788 40,19, 249 66, 267 4119,402 66,64219,837

1,49538,69238, 972' 1,233

64, 269 39,4751,951

>, 6001,814,300

41,52367,079 41,807

10.82710,79210,81710, 83010.828io, r •

10, 87010,91711,07211,27711,50011, 688

11,80211,87612,06812,40612,51212, 537

12,66412,67212,81212, 88612,880

14,83314,88015,00115,11215,12715,211

15,32515,44215,49715, 62215,79915,933

15. 93416,00816,04116,11416,16216,533

17,05317, 28317,38017, 50217,730

10,31010, 28810,26110,335 24;10,34510,415 23;

24,03624,16324,247" :, 25424,2281,906

10,402 23,10,43110,46810,61810,74110, 791

t, 89123,97323,98224,26024,33724, 532

10, 75910,808 24i10, 863 24,10, 713 2410, 80110,881

24,718\, 690t, 7361,766

24, 79424,674

10, 883 24, 79410,859 24, "•11,108 24,ll

1,9741,967

25,11911,197 25,272

9,6669,6619,6329,5349,5289,432

9,2939,3519,4129,5659,6379,619

9,5859,5419,5579,6609,6759,608

9.5379,6459,7669,7699,799

3,4523,4033,4463,4593,4523,422

3,4063,4263,4573,5083,4973,522

3,5323,5313,5333,5333,5583,611

3,5913,6623,7023,8253,834

10,91811,09911,16911,26111,24811,052

11,19211,19611,11311,18711,20311,391

11, 60111,61811,64611,57311,56111,455

11,66611, 66711,49911,52511,639

1 Monthly average for year and total for month.2 Book value, seasonally adjusted, end of period.3 Preliminary estimates.4 Preliminary.



255


TABLE C-40.—Manufacturers' new and unfilled orders, 1947-65

[Amounts in millions of dollars]

Year or month

1947--1948--1949-.

1950..1951..1952-.1953-1954-.

1955-.1956--1957-.1958-.1959-.

I960-,1961-.1962-.1963--1964_-

1965 *.

1964: J an . . .F e b . .Mar..Apr..May_June..

July..Aug..Sept..Oct...Nov_.D e c .

1965: Jan...Feb. .Mar..Apr..May..June..

July..Aug_.Sept..Oct. .

Decs.

Total

15,25617,69215,614

20,11023,90723,20323,53322,313

27,42328,38327, 51426,90130,679

30,11531,06133,16735, 03637, 697

41,100

37,14836,65736,54738,18437,89337,782

39,31537,50938,01837,84637, 72039,590

39,70439, 46940, 71241,12040,18140, 689

41, 84640, 92641, 48341,84342,266

New orders l

Durable goods

Total

6,3888,1266,633

10,16512,84112,06112,10510, 743

14,95415,38114,07313,17015,951

15,22315, 66417,08518,30019,803

21,800

Machin-ery andequip-ment

2,0841,770

2,4992,8702,5662,3542,878

2,7912,8543,0903,3263,706

4,100

Non-dura-ble

goods

9,5668,981

9,94511,06611,14211,42811,570

12,46913,00213,44113,73114, 728

14, 89215,39716, 08216, 73617, 895

19,300

Unfilled orders 2

Total

34,26630,55223,877

41,16666,86275,47860,34648,195

60, 04467,4 7353, 25148,78554,101

45, 82047, 86846, 24249,14955,962

64,100

Dura-ble

goods

28,37926,45919,504

35,22263,07772,31757,85445,233

56,36964,06750,46445,70950,428

43,18744,81843,66646,19353, 042

60,800

Non-dura-ble

goods

5,8874,0934,373

5,9443,7853,1612,4922,962

3,6753,4062,7873,0763,673

2,6333,0502,5762,9562,920

3,300

Unfilled orders-ship-ments ratio 3

Total

3.42

3.633.873.35

2.522.442.362.45

2.66

Dura-ble

goods

4.12

4.274.554.00

3.012.942.852.96

3.23

Non-dura-

blegoods

0.96

1.121.04.85

Seasonally adjusted

19,74019,49919,26220,46119,94520,016

21,25419,34219,90719, 62319,45420, 720

21,27121,13021, 71422,04320,99221,310

22,19521, 50922,16322,42522,40622, 501

3,6173,4133,4553,6103,9293,916

3,7743,7723,6863,7863,8823,917

3,9583,7994,0244,0784,0694,091

4,3484,1594,1534,2494,2984,281

17,40817,15817,28517, 72317,94817,766

18,06118,16718,11118,22318,26618,870

18,43318, 33918, 99819,07719,18919, 379

19, 65119, 41719, 32019,41819,860

50,08350, 58650,69751,67952, 00452,833

54,07554,21655,04256,06756,36357,044

57, 31758,16058, 59559,46359,89760, 588

60, 98161,39162, 69963,99364,810

47,07247,64447,80548,84049,22550,037

51,30251,36652,13553,13753,40653,958

54,28055,09255, 53156,37456,87557, 454

57,83058,14859, 38560,66461,45862,075

3,0112,9422,8922,8392,7792,796

2,7732,8502,9072.9302,9573,086

3,0373,0683,0643,0893,0223,134

3,1513,2433,3143,3293,352

2.332.392.392.382.392.46

2.402.512.502.542.532.45

2.482.532.462.512.562.58

2.482.572.662.692.66

2.802.862.882.882.912.98

2.923.043.023.083.082.96

3.013.072.983.043.133.15

3.023.123.233.283.23

.76

.65

.66

.61

.62

0.65.65.63.60.57.60

.56

.60

.61

.60

.60

.61

.60

.61

.59

.60

.57

.60

.58

.62

.64

.63

.62

1 Monthly average for year and total for month.2 End of period.3 Ratio of shipments for period to unfilled orders at end of period. Annual figures relate to seasonally

adjusted data for December.4 Preliminary estimates.5 Preliminary.



256


PRICES

TABLE C-41 .— Wholesale price indexes, by major commodity groups, 1929-65[1957-59=100]

Year or monthAll

com-modi-ties

Farmprod-ucts

Proc-essedfoods

All commodities other than farm productsand foods (industrials) *

Total

Textileprod-uctsand

apparel

Chemi-calsand

alliedprod-ucts

Rubberand

rubberprod-ucts

Lumberand

woodprod-ucts

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_1955.1956.1957.1958.1959.

1960.1961.1962,1963.1964.1965 2

1964: J a n . .F e b . .Mar..Apr..May..June-July..Aug..Sept.Oct--Nov_.Dec_.

1965: Jan..Feb..Mar_.Apr..May..June-July. .Aug..Sept.-Oct —Nov..Dec2_

52.1

47.339.935.636.141.043.844.247.243.042.2

43.047.854.056.556.957.966.181.287.983.5

86.896.794.092.792.993.296.299.0

100.4100.6

100.7100.3100.6100.3100.5102.5

101.0100.5100.4100.3100.1100.0

100.4100.3100.7100.8100.7100.7

101.0101.101.3101.7102.1102.8

102.9102.9103.0103.1103.5104.1

63.9

54.039.629.431.339.948.049.452.741.939.9

41.350.164.674.875.378.390.6

109.1117.1101.3

106.4123.8116.8105.9104.497.996.699.2

103.697.2

96.996.097.795.794.398.4

96.394.595.294.493.793.2

94.193.695.793.894.092.7

93.094.595.497.698.4"

100.3

100.099.199.599.4

100.3103.0

54.349.541.633.933.739.648.346.448.642.340.2

40.446.754.857.256.056.471.791.198.488.8

92.6103.3100.997.097.694.394.397.9

102.999.2

100.0100.7101.2101.1101.0105.1

102.5100.9100.5100.499.4

100.2

101.2101.0102. 2101.7100.9100.8

102.2102.1101.8102.3103.3106.1

106.6106.7106.7106.9107.6109.4

51.748.142.439.740.244.244.044.948.146.146.0

46.850.353.954.755.656.361.775.381.780.0

82.991.589.490.190.492.496.599.299.5

101.3

101.3100.8100.8100.7101.2102.5

101.3101.2101.1101.1101.1100.9

101.1101.1101.1101.5101.6101.8

101.9101.9102.0102.1102.3102.5

102.5102.7102. 7102.8103.2103.2

67.860.349.841.248.654.753.353.757.350.152.3

55.463.772.873.173.975.187.3

105.7110.3100.9

104.8116.9105.5102.8100.6100.7100.7100.898.9

100.4

101.599.7

100.6100.5101.2101.8

101.2101.2101.2101.1101.2101.0

101.1101.2101.2101.4101.4101.5

101.5101.5101.5101.5101.6101.9

101.9101.9102.1102.0101.9102.0

0)0)0)0)46.648.850.951.253.651.050.751.656.162.363.163.864.269.492.294.486.2

87.5100.195.096.197.396.997.599.6

100.4100.0

100.299.197.596.396.797.4

96.396.496.596.696.796.5

96.997.197.2

97.397.597.597.697.697.4

97.497.197.297.697.597.6

57.650.442,837.139.045.545.849.458.157.159.3

55.359.669.471.370.468.368.668.370.568.3

83.2102.192.586.387.699.2

100.6100.2100.199.7

99.996.193.393.892.592.9

93.793.693.993.192.691.6

91.891.891.992.192.292.2

92.392.292.292.392.993.1

93.093.293.393.493.593.5

26.4

24.119.616,920.023.522.623.627.925.426.1

34.537.539.742.843.449.777.488.581.9

94.1102. 599.599.497.6

102.3103.898.597.4

104.1

100.495.996.598.6

100.6101.1

99.099.9

101. 0101.8101.8101.4

101.2100. 9100. 6100.399.699.4

100. 8100.8100.7100.5100. 4100.3

100. 5101.8102. 0101.6101.6101.9

* See following page for other items.See footnotes at end of table.

257


TABLE G-41.—Wholesale price indexes, by major commodity groups, 1929—65—Continued[1957-59=100]

Year or month

All commodities other than farm products and foods (industrials)—Continued

Hides,skins,

leather,and

leatherprod-ucts

Fuelsand

relatedprod-ucts,and

power

Pulp,paper,

andalliedprod-ucts

Metalsand

metalprod-ucts

Machin-ery andmotiveprod-ucts

Furni-tureand

otherhouse-holddura-bles

Nonme-tallic

mineralprod-ucts

Tobaccoproducts

andbottledbever-ages

Miscel-laneousprod-ucts

1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

196019611962196319641965 «




JulyAugSeptOctNovDec 2

56.6

52.044.738.042.044.946.549.554.348.249.6

52.356.161.161.060.561.370.796.597.592.5

99.9114.892.894.189.989.594.894.996.0

109.1

105.2106.2107.4104.2104.6109.2

102.7102.5102.5104.5104.7104.8

105.4105.6105.4106.0105.5105.4

104.9105.1105.7106.3107.4107.7

108.8112.2111.3113.3113.6114.3

61.5

58.250.052.149.354.354.556.557.556.654.2

53.256.658 259^961.662.366.779.793.889.3

90.293.593.395.994.694.597.4

102.798.798.7

99.6100.7100.2

99.599.097.096.196.496.3

96.796.495.296.797.698.1

98.597.997.997.698.498.7

98.799.099.299.4

100.3100.6

0)

(00)C1)0)0)0)0)0)0)0)0)0)C1)0)i})0)0)75.378.675.2

77.191.389.088.788.891.197.299.0

100.1101.0

101.898.8

100.099.299.0

99.999.399.198.798.7

98.798.798.799.198.998.9

99.099.099.599.8

100.0100.0

99.999.9

100.0100.5100.8100.9

44.1

39.735.732.833.637.137.037.843.241.641.2

41.442.242.842.742.743.448.560.268.569.0

72.780.981.083.684.390.097.899.799.1

101.2

101.3100.7100.0100.1102.8105.7

101.7101.8102.0102.2102.1102.3

102.5103.0103.0103.8104.3104.7

104. 5104.6104.8105.2105.7105.9

105.8106.2106.2106.3106.7106.6

0)

0)

00)0)0)0)43.7

44.245.847.747.447.447.853.661.867.571.2

72.679.581.282.283.285.892.197.7

100.1102.2

102.4102.3102.3102.2102.9103.7

102.5102.5102.7102.9103.3103.0

103.1102.9102.9103.0103.2103.1

103.3103.5103.5103.7103.7103.8

103.7103.8103.8103.9104.1104.1

56.4

55.551.145.045.149.048.649.354.753.453.2

54.457.862.562.163.863.967.877.882.583.8

85.692.891.192.993.994.396.999.4

100.2100.4

100.199.598.898.198.598.0

98.498.598.5

98.5

98.698.698.698.598.598.4

98.398.298.398.098.098.0

97.897.797.797.898.098.1

53.4

53.249.746.549.252.652.652.753.952.251.2

51.252.454.554.755.858.161.869.174.776.7

78.683.583.586.988.891.395.298.999.9

101.2

101.4101.8101.8101.3101.593.3

101.1101.2101.1101.3101.3101.4

101.5101.7101.8101.8101.8101.6

101.7101.8101.9101.9101.9102. G

101.7101. 6101.6101.6101.6101.6

67.4

67.867.263.356.659.259.159.059.559.459.4

60.160.861.564.664.966.769.875.678.279.6

80.585.187.0

94.695.198.099.7

102.2

102.5103.2104.1106.1107.4107.7

107.6107.1107.1107.1107.3107.4

107.3107.5107.51C7.6107.5107.5

107.5107.6107.5107.8108.1107.6

107.6107.6107.7107.7107.7107.9

0)0)0)(00)0)0)(00)0)0)(00)(00)0)0)0)108.7111.2103.5

104.1113.1116.7105.4110.599.198.196.6

101.5101.9

103.9107.3110.4109.2111.0

112.6110.9109.8109.5107.2106.7

107.5107.3109.2110.1108.5110.7

110.01C9.6109.5110.3108.9,111.0

112.6111.5111.5111.2113.2112.5

1 Not available.2 Preliminary.Source: Department of Labor, Bureau of Labor Statistics.

258


TABLE C-42.— Wholesale price indexes•, by stage of processing, 1947-65

[1957-59=100]

Year ormonth

19471948 . .1949

195019511952 _19531954

1955195619571958 - -1959

19601961196219631964

1965 4


JulyAug _Sept. . . .OctNovDec

1965: Jan. .FebMarAprMayJune

July.....AugSeptOctNovD e c 4 . . .

Allcom-modi-ties

81.287.983.5

86, 896.794.092 792.9

93.296.299.0

100.4100.6

100.7100.3100.6100.3100.5

102.5

101.0100.5100.4100.3100.1100.0

100.4100.3100.7100.8100.7100.7

101 0101.2101.3101.7102.1102.8

102.9102.9103.0103.1103.5104.1

Total

100.8110.595.6

104.2119.6109.9101.5100.6

96.797.299.4

101.699.0

96.696.197.195.094.1

98.9

95.194.094.394.293.592.4

93.894.195.794.394.094.0

94.295.595.896.998.3

100.6

100.5100.8100.0100.1100.8103.1

Crude materials

Food-stuffsandfeed-stuffs

113.0122.2101.5

108.9126.0118.6106 2106.2

96.294.298.4

104.297.4

96.294.996.894 091.9

98.3

94.092.292.592.191.389.6

91.591.794.491 891.090.6

91.893.593.995.497.3

101.0

100.9101.1100.0100.1100.7104.1

Non-food

ma-terials.except

fn*»liuei

86.596.287.5

100.0115.399.995.693.8

99.1102.8101.497.6

101.0

96.897.997.496 297.8

99.8

96.696.697.197.997.397.5

97.597.997.798 599.199.6

98.398.799.099.7

100.299.8

99.6100.099.9

100.1100.7101.3

Fuel

73.687.086.5

86.187.788.391.487.3

87.193.398.699.8

101.6

102.5102.3101.8103.0102.5

103.2

104.5105.1103.2101.099.999.8

101.7102.3101.9102 7103.8104.2

103.5104.3103.6101.5101.5101.7

101.9102.7103.7104.3104.8105.4

Intermediate materials, supplies, and components* l

Total

76.582.779.4

83.093.090.390.891.3

93.097.199.499.6

101.0

101.0100.3100.2100.5100.9

102.2

101.3101.2100.9100.9100.6100.3

100.5100.4100.6101 1101.1101.4

101.6101.6101.6101.8101.9102.2

102.3102.4102.5102.6103.0103.0

Materials and components for

Total

75.581.578.0

81.892.788.890 290.4

92.696.999.399.7

101.0

101.099.899.299.4

100.4

102.0

100.6100.4100.4100.4100.2100.0

100.0100.1100.2100 8101.0101.0

101.5101.4101.5101.6101.7101.9

102.0102.1102.2102.4102.5102.6

manufacturing

Ma-terials

forfood

manu-factur-

ing

102.6105.891.0

94.7105.5101.4101.6100.7

97.597.999.7

102.098.3

99.5102.6100.5105.5104.0

106.6

109.1106.2104.4104.2102.5101.7

102.1102.1102.8103 8104.3105.0

106.3106.3105.6105.8104.9105.9

106.2106.5106.9107.5108.1108.8

Ma-terials

fornon-du-

rablemanu-factur-

ing

94.099.590.7

95.2110.399.398 596.9

97.398.8

100.199.1

100.8

100.898.698.097.197.8

98.7

97.697.697.897.897.897.6

97.697.597.698. 098.298.3

98.598.598.598.698.798.7

98.798.798.798.998.898.9

Ma-terials

fordu-

rablemanu-factur-

ing

58 866.468.2

72.180.180.383 985.7

90.095.798.899.5

101.8

101.9100.5100.4100.5102.5

104.6

101.8101.9102.3102.4102.3102.3

102.4102.5102.5103 2103.3103.4

103. 7103.9104.0104.2104.6104.8

104.8105.0105.1105.1105.3105.2

Com-po-

nentsfor

manu-factur-

ing

63.068.069.3

71.981.681.883 383.7

87.495.499.199.9

101.1

100.699.698.898.899.7

101.3

99.599.699.799.999.999.4

99.399.399.4

100 0100.3100.3

100.4100.5100.5100.7101.2101.4

101.4101.6101.6101.9102.2102.3

Ma-terialsandcom-po-

nentsforcon-

struc-tion

69.677.077. 2

81.288.888.289.790.1

93.798.599.199.1

101.8

101.199.799.399.6

100.6

101.4

100.1100.3100.4100.7100.7100.6

100.6100.6100.6100 7100.7100.7

100.9100.9100.9101.0101.2101.2

101.3101.7101.7101.7101.8101.9

*See following page for other items.See footnotes at end of table.

259


TABLE C-42.— Wholesale price indexes, by stage of processing, 1947—65—Continued

[1957-59=100]

Year or month

Finished goods

Total

Consumer finished goods

Total Foods

Othernon-

durablegoods

Du-rablegoods

Special groups of industrialproducts

Pro-ducer

finishedgoods

Crudemate-rials 2

Inter-mediate

materials,supplies,and com-ponents 3

Con-sumer

finishedgoods ex-cluding

foods

1947--.19481949

19501951195219531954

19551956195719581959

I960..1961196219631964

1965 4

1964: Jan...Feb. .Mar..Apr..May.June.

July.Aug..Sept.Oct..Nov..D e c .

1965: Jan..Feb..Mar.Apr..May-June.

July.Aug.Sept.Oct..Nov.Dec4

80.186.484.0

85.593.693.092.192.3

92.595.198.6

100.8100.6

101.4101.4101.7101.4101.8

103.6

102.1101.6101.5101.3101.3101.7

102.1101.9102.1102.1102.1101.9

102.3102.3102.4102.8103.2103.9

104.0103.8104.1104.3104.7105.3

86.192.688.3

89.898.297.095.495.3

94.796.198.9

101.0100.1

101.1100.9101.2100.7100.9

102.8

101.5100.8100.7100.3100.2100.8

101.2100.9101.3101.2101.1100.8

101.2101.2101.4101.9102.3103.2

103.4103.1103.5103.7104.2104.9

90.799.091.0

92.8104.2103.397.997.1

94.794.597.8

103.598.7

100.8100.4101.3100.1100.6

104.5

101.499.9

100.299.798.9

100.7

101.4100.9102.2101.4100.999.9

100.8100.9101.3102.6103.5105.6

106.0105.3106.1106.3107.2108.9

86.592.088.2

89.696.594.195.095.3

95.897.799.999.3

100.8

101.5101.5101.6101.9101.6

102.8

102.4102.1101.5101.1101.3101.2

101.5101.4101.0101.6101.9102.1

102.3102.2102.2102.2102.5102.6

102.7102.8103.0103.3103.6103.7

75.981.183.2

84.189.790.491.191.8

92.895.998.7

100.1101.3

100.9100.5100.099.599.9

99.6

99.599.699.699.7

100.1100.0

100.199.999.9

100.099.999.9

99.899.799.799.799.699.7

99.699.599.599.599.599.6

61.867.470.7

72.479.580.882.183.1

85.692.097.7

100.2102.1

102.3102.5102.9103.1104.1

105.4

103.5103.7103.8103.9104.3104.1

104.3104.3104.2104.3104.6104.5

104.9105.0105.1105.3105.3105.4

105.4105.5105.5105.6105.9106.0

79.292.584.0

93.6102.993.192.488.0

96.6102.3100.996.9

102.3

98.397.295.694.397.1

100.9

94.994.995.296.295.695.9

96.698.398.199.199.8

100.6

99.099.499.7

100.1101.0100.5

100.4101.7101.3102.0102.7102.6

73.479.877.8

81.491.288.389.489.8

92.597.099.699.4

101.0

101.4100.199.999.6

100.2

101.5

100.1100.2100.2100.2100.199.9

100.0100.099.9

100.4100.5100.6

100.8100.8100.9101.1101.4101.5

101.5101.7101.8101.9102.1102.2

83.188.486.5

87.894.292.993.794.1

94.897.199.599.6

100.9

101.3101.2101.0101.0100.9

101.7

101.4101.2100.8100.6100.8100.7

100.9100.8100.6101.0101.1101.3

101.4101.3101.3101.3101.5101.6

101.6101.6101.8102.0102.2102.3

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, see Table 2B, Wholesale Prices and PriceIndexes, 1962 (BLS Bulletin 1411).


260


TABLE G-43.—Consumer price indexes, by major groups, 1929-65

For city wage earners and clerical workers

[1957-59= 100]

Year or month

192919301931193219331934193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964 319651964: Jan 3

FebMarAprMayJuneJulyAugSeptOctNovDec

1965: JanFebMarAprMayJuneJulyAugSeptOctNovDec

Allitems

59.758.253.047.645.146.647.848.350.049.148.448.8

. 51.356.860.361.362.768.077.883.883.083.890.592.593.293.693.394.798.0

100.7101.5103.1104.2105.4106.7108.1109.9107.7107.6107.7107.8107.8108.0108.3108.2108.4108.5108.7108.8108.9108.9109.0109.3109.6110.1110.2110.0110.2110.4110.6111.0

Food

55.652. 943.636.335.339.342.142.544.241.039.940.544.251.957.957.158.466.981.388.284.785.895.497.195.695.494.094.797.8

101.9100.3101.4102.6103.6105.1106.4108.8105.8106.0105.7105.7105.5106.2107.2106.9107.2106.9106.8106.9106.6106.6106.9107.3107.9110.1110.9110.1109.7109.7109.7110.6

Housing

Total

(2)(2)(2)(2)(2)(2)56.357.159.160.159.759.961.464.264.966.467.569.374.579.881.083.288.289.992.393.494.195.598.5

100. 2101.3103.1103.9104.8106.0107.2108.5106.9106.9107.1107.0106.9107.1107.1107.2107.4107.6107.7107.8108.1108.2108.2108.2108.2108.2108.3108.2108.6109.0109.2109.4

Rent

85.483.178.770.660.857.056.958.360.962.963.063.264.365.765.765.966.166.568.773.276.479.182.385.790.393.594.896.598.3

100.1101.6103.1104.4105.7106.8107.8108.9107.3107.5107.5107.7107.7107.8107.8107.9107.9108.2108.3108.4108.4108.5108.7108.8108.8108.8108.9109.0109.1109.2109.3109.5

Ap-parelandup-

keep J

55.354.149.243.642.146.146.546.949.349.048.348.851.159.662.266.770.176.989.295.091.390.198.297.296.596.395.997.899.599.8

100.6102.2103.0103.6104.8105.7106.8105.0105.1105.3105.6105.7105.7105.5105.3105.9106.2106.4106.6105.6105.8106.0106.3106.8106.9106.1106.4107.2107.8108.1108.1

Trans-porta-tion

(2)(2)(2)(2)(2)(2)49.449.850.651.049.849.551.255.755.555.555.458.364.371.677.079.084.089.692.190.889.791.396.599.7

103.8103.8105.0107.2107.8109.3111.1109.4108.6108.9109.0109.1109.2109.4109.3108.9109.4110.0110.5111.1110.6110.6111.0111.4111.2111.5111.0111.0111.2111.5111.6

Medi-cal

care

(2)(2)(2)(2)(2)(2)49.449.650.050.250.250.350.652.054.556.257.560.765.769.872.073.476.981.183.986.688.691.895.5

100.1104.4108.1111.3114.2117.0119. 4122.3118.2118.5118.7119.0119.1119.3119.5119.8119.7119.9120.2120.3120.6121.0121.4121.6121.8122.2122.7122.8122.8123.0123.4123.7

Per-sonalcare

(2)(2)(2)(2)(2)(2)42.643.245.746.746.546.447.652. 257.661.763.668.276.279.178.978.986.387.388.188.590.093.797.1

100.4102.4104.1104.6106.5107.9109.2109.9108.5108.4108.7108.7108.9109.1109.3109.4109.5109.7109.7110.0110.0110.1110.4110.7111.0111.0108.7109.0109.2109.2109.6110.0

Read-ing an drecrea-tion

(2)(2)(2)(2)(2)(2)50.251.052.554.354.455.457.360.065.072.075.077.582.586.789.989.392.092.493.392.492.193.496.9

100.8102.4104.9107.2109.6111.5114.1115.2113.1113.3113.6114.0114.1114.0114.1114.2114.3114.5114.9114.9115.0115.2115.4115.9115.9115.7114.6114.3114.8115.2115.4115.4

Othergoodsand

services

(52.752.654.054.555.457.158.259.963.064.767.369.575.478.981.282.686.190.692.894.394.395.898.599.8

101. 8103.8104.6105.3107.1108.8111.4108.3108.4108.5108.6108.7108.7108.9108.9109.0109.1109.1109.2109.3109.4109.5110.3110.6111.0111.5112.6112.7113.3113.3113.4

1 Not comparable to previous "apparel" series; index revised to include laundry and drycleaning;formerly included in housing group; indexes prior to 1953 estimated.2 Not available.3 New series, beginning January 1964. For details, see Department of Labor release, Major Changes inthe Consumer Price Index, March 3,1964.


261


TABLE C—44.—Consumer price indexes, by special groups, 1935-65

For city wage earners and clerical workers

[1957-59=100]

Year or month

19351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

19601961196219631964219651964: Jan «.

Feb.Mar..Apr..May.June.

July.Aug.Sept.Oct..Nov.Dec .

1965: Jan. .Feb.Mar.Apr.May.June.


Allterns

47.848.350.049.148.4

48.851.356.860.361.362.768.077.883.883.0

83.890.592.593.293.693.394.798.0

100.7101.5

103.1104.2105.4106.7108.1109.9

107.7107.6107.7107.8107.8108.0

108.3108.2108.4108.5108.7108.8

108.9108.9109.0109.3109.6110.1

110.2110.0110.2110.4110.6111.0

Allitemslessfood

52.553.054.955.555.1

55.356.960.962.665.066.569.475.881.382.1

83.188.490.592.392.893.194.797.9

100.1102.0

103.7104.8106.1107.4108.9110.4

108.4108.4108.6108.6108.7108.8

108.8108.9109.0109.2109.5109.6

109.8109.8109.9110.1110.3110.3

110.2110.2110.6110.9111.2111.3

Allitemslessshel-ter

46.146.748.246.846.0

46.349.155.359.560.562.168.479.485.684.1

84.791.893.693.993.993.494.797.8

100.7101.5

103.0104.2105.4106.7108.0109.6

107.6107.5107.5107.7107.7107.9

108.2108.1108.2108.3108.5108.6

108.6108.6108.7109.1109.4110.0

110.1109.8110.0110.2110.4110.8

Commodities

Allcom-modi-ties1

45.045.647.445.644.7

45.148.255.260.160.862.669.483.489.487.1

87.695.596.796.495.594.695.598.5

100.8100.9

101. 7102.3103.2104.1105.2106.4

104.9104.8104.8104.9104.8105.0

105.3105.2105.4105.5105.6105.7

105.6105.5105.6105.9106.2106.9

106.9106.6106.6106.9107.1107.4

Food

42.142.544.241.039.9

40.544.251.957.957.158.466.981.388.284.7

85.895.497.195.695.494.094.797.8

101.9100.3

101.4102.6103.6105.1106.4108.8

105.8106.0105.7105.7105.5106.2

107.2106.9107.2106.9106.8106.9

106.6106.6106.9107.3107.9110.1

110.9110.1109.7109.7109.7110.6

Commodities less food

Alii

50.250.853.053.052.1

52.455.061.263.867.370.074.483.990.389.0

88.995.696.496.695.694.995.998.899.9

101.2

101.7102.0102.8103.5104.4105.1

104.3104.1104.3104.3104.3104.3

104.3104.2104.3104.6104.8104.9

104.9104.7104.8105.0105.2105.1

104.7104.7104.9105.3105.6105.7

Dura-ble i

47.147.850.851.750.6

50.253.760.963.068.773.977.483.890.091.3

92.399.3

100.199.597.195.395.498.5

100.0101.5

100.9100.8101.8102.1103.0102.6

102.9102.9102.9102.9102.8102.9

102.9102.8102.8103.1103.5103.4

103.6103.3103.2103.0102.9102.6

102.3101.8101.7102.1102.4102.4

Non-dura-ble

48.849.251.250.950.1

50.652.858.460.964.066.371.181.788.086.3

86.292.793.294.094.494.496.599.199.8

101.0

102.6103.2103.8104.8105.7107.2

105.6105.3105.6105.6105.7105.6

105.6105.6105.8106.0106.1106.3

106.1106.1106.2106.8107.2107.3

106.9107.1107.7108.0108.3108.4

Allserv-ices l

52.252.854.455.455.5

55.756.458.259.360.761.562.765.369.472.6

75.078.982.486.088.790.592.896.6

100.3103.2

106.6108.8110.9113.0115.2117.8

114.2114.3114.5114.8114.9115.1

115.3115.4115.5115.7116.0116.2

116.6116.9117.0117.3117.5117.6

117.8117.9118.5118.7119.0119.3

Services

Rent

56.958.360.962.963.0

63.264.365.765.765.966.166.568.773.276.4

79.182.385.790.393.594.896.598.3

100.1101.6

103.1104.4105.7106.8107.8108.9

107.3107.5107.5107.7107.7107.8

107.8107.9107.9108.2108.3108.4

108.4108.5108.7108.8108.8108.8

108.9109.0109.1109.2109.3109.5

Allserv-iceslessrent1

49.349.049.549.949.9

50.050.652.855.257.959.161.264.368.071.4

73.477.881.584.987.489.491.996.1

100.2103.6

107.4110.0112.1114.5117.0120.0

116.0116.0116.3116.5116.6116.8

117.0117.2117.4117.6117.9118.2

118.6118.9119.1119.3119.5119.7

120.0120.0120.7121.0121.3121.6

i Indexes have been revised to reflect transfer of home purchase from services to durable commodities;indexes prior to 1956 estimated. For details, see Department of Labor release, Major Changes in the Con-sumer Price Index, March 8,1964.8 New series beginning January 1964.


262


MONEY SUPPLY, CREDIT, AND FINANCE

TABLE C-45.—Money supply, 1947-65

[Averages of daily figures, billions of dollars]

Year and month

1947: Dec_1948: Dec_1949: Dec.

1950: Dec.1951: Dec.1952: Dec.1953: Dec.1954: Dec.

1955: Dec...1956: Dec...1957: Dec...1958: Dec...1959: Dec...1960: Dec...1961: Dec...1962: Dec...1963: Dec...1964: Dec...1965: Dec<_.

1964: Jan.. .Feb . .Mar..Apr. .May.June..

July..Aug. .Sept..Oct...Nov_-D e c .

1965: Jan. . .Feb . .Mar. .Apr . .May.June..

July..Aug-.Sept-Oct...Nov..Dec4 .

Totalmoneysupply

andtime

depos-itsad-

justed

Money supply i

Total

Cur-rencvcom-po-

nent

De-mand

depositcom-

ponent

Timede-

positsad-just-ed 2

Seasonally adjusted

148.5147.5147.6

152.9160.9168.5173.3180.6

185.2188.8193.3206.5209.3214.0228.2245.3265.3286.3314.3

267.1268.4269.4270.7271.8274.0

276.0278.1280.3282.3284.2286.3

288.8290.7292.4294.6294.6297.7

300.1302.8305.9309.2311. 2314.3

113.1111.5111.2

116.2122.7127.4128.8132.3

135.2136.9135.9141.1141.9141.1145.5147.5153.1159.7167.4

153.6153.8154.1154.5154.5155.5

156.6157.1158.2158.8159.1159.7

160.0159.7160.3161.1160.0161.8

162.5162.7164.3165.6165.7167.4

26.425.25.

25.26.27.27.27.

27.28.

81

01374

82

28.328.28.

69

28.929.630.632.534.36.

32.32.32.33.33.33.

33.33.33.34.34.34.

34.34.34.34.34.35.

35.35.35.35.36.36.

23

689034

689022

577790

246913

86. 785.886.0

91.96.

100.101.104.

107.108.107.112.113.112.116.116.120.

25119

476611096

125.4131. 2

121.0121.121.121.121.122.

123.123.124124.124125

12421

033884

125. 5125125126125126

127127128129129131

16418

337762

35.436.036.4

36.738.241.144.548.3

50.051.957.465.467.472.982.797.8

112.2126.6146.9

113.5114.6115.3116.2117.3118.5

119.4121.0122.1123.5125.1126.6

128.8131.0132.1133.5134.6135.9

137.6140.1141.6143.6145.5146.9

Totalmoneysupply

andtime

depos-itsad-

justed

Money supply l

Total

Cur-rencycom-po-

nent

De-mand

depositcom-

ponent

Timede-

positsad-

just-ed 2

Unadjusted

151.0150.0150.0

155.6163.8171.7176.3183.6

188.2191.7196.0209.3212.2216.8231.2248.3268.3289.2317.3

270.7268.2268.6271.6270.2272.5

275.0276.1279.1282.4284.7289.2

292.7290.3291.7295.6293.0296.2

299.2300.7304.6309.3311.8317.3

115.9114.3113.9

119.2125.8130.8132.1135.6

138.6140.3139.3144.7145.6144.7149.4151.6157.3164.0172.0

157.7153.7152.9154.9152.2153.4

155.0155.0157.1159.0160.6164.0

164.4159.5159.0161.6157.6159.6

160.9160.5163.2165.8167.4172.0

26.826.225.5

25.426.627.828.227.9

28.428.828.929.229.529.630.231.233.135.037.0

32.432.332.632.833.133.4

33.733.933.934.134.635.0

34.434.234.334.534.634.9

35.435.535.636.036.537.0

89.188.188.4

93.899.2

103.0103.9107.7

110.2111.5110.4115.5116.1115.2119.2120.3124.1129.1135.0

125.2121.3120.2122.2119.2120.0

121.3121.1123.2124.9126.1129.1

130.1125.3124.6127.1123.0124.6

125.6125.0127.5129.8130.9135.0

35.135.736.1

36.438.040.944.248.0

49.651.456.764.666.672.181.896.7

111.0125.2145.3

113.0114.5115.7116.7118.0119.1

120.0121.1122.0123.4124.1125.2

128.3130.8132.7134.0135.4136.6

138.3140.2141.4143.5144.4145.3

1.01.82.8

2.42.74.93.85.0

3.43.43.53.94.94.74.95.65.15.54.5

4.14.86.04.26.87.6

6.96.36.55.55.85.5

4.25.76.75.69.79.3

9.17.45.65.04.04.5

1 Money supply consists of (1) currency outside the Treasury, the Federal Reserve, and vaults of allcommercial banks; (2) demand deposits at all commercial banks, other than those due to domestic commer-cial banks and the U.S. Government, less cash items in process of collection and Federal Reserve float;and (3) foreign demand balances at Federal Reserve Banks.

2 Time deposits adjusted are time deposits at all commercial banks other than those due to domesticcommercial banks and the U.S. Government.

s Deposits at all commercial banks.4 Preliminary.

NOTE.—Between January and August 1959, the series were expanded to include data for all banks inAlaska and Hawaii.


263


TABLE C-46.—Selected liquid assets held by the public, 7946-65

[Billions of dollars, seasonally adjusted]

End of year or month Total

239.1246.2254.1262.1

271.4281.0296.0311.5320.3332.5343.2356.0373.1393.9

399.2424.6459.0495.4530.4572.5

498.9499.6504.0506.1507.7511.4

511.8514.9521.0523.4526.9530.4

534.9536.4542.8543.3543.0550.2

550.9555.6560.6565.0568.2572.5

Demanddeposits

andcurrency l

108.5112.4110.5110.4

115.5120.9125.5127.3130.2133.3134.6133.5138.8139.7

138.4142.6144.8149.6156.7163.7

149.5148.4150.2149.9149.7151.2

151.8152,2155.0155.0155.0156.7

156.1154.8158.6156.3155.4159.6

157.7157.8160.6161.1160.3163.7

Time deposits

Com-mercialbanks

33.935.335.936.3

36.638.241.244.648.249.752.057.565.467.4

73.182.598.1

112.9127.1146.8

114.8115.5115.9117.0117.9118.6

119.8120.6121.9123.8125.9127.1

130.6131.9133.0134.1134.9136.3

138.3139.8141.6144.0146.5146.8

Mutualsavingsbanks

16.917.818.419.3

20.120.922.624.426.328.130.031.633.934.9

36.238.341.444. e49.052.5

45.045.445.646.046.346.8

47.147.547.948.348.649.0

49.449.649.850.150.450.8

51.151.351.652.052.352.5

Postalsavingssystem

3.33.43.33.2

2.92.72.52.42.11.91.61.31.1. 9

. 8

.6

. 5

. 5

.4

. 3

. 5

.4

.4

.4

.4

.4

.4

.4

. 3

. 3

. 3

.3

•

Savingsandloan

shares

8.59.7

11.012.5

14.016.119.222.827.232.037.041.747.754.3

61.870.579.890.9

101.3109.7

91.492.493.594.194.995.8

96.697.899.199.8

100.8101.3

101.7102.6103.6103.9104.4105.1

105.5106.5107.7108.3109.2109.7

U.S.Govern-

mentsavingsbonds2

48.650.953.455.0

55.855.455.755.655.655.954.851.650.547.9

47.047,447.649.049.950.5

49.149.049.049.149.149.2

49.349.349.449.449.549.9

50.049.949.949.949.950.0

50.150.150.150.150.150.5

U.S.Govern-

mentsecuritiesmaturing

withinone year 2

1946194719481949. _.

1950___195119521953195419551956195719581959

196019611962196319641965 3

1964: Jan. . .Feb...Mar . .Apr...May..June.-

July. .A u g -Sept..Oct-_.Nov..D e c .

1965: Jan.. .Feb.-Mar..

May..June.

July-Aug—Sept-Octa.Nova.Dec 3

19.416.621.625.5

26.426.829.334.430.631.633.238.835.648.8

41.942.646.848.146.149.0

48.648.449.349.549.449.4

46.747.147.446.846.746.1

46.847.347.648.647.648.0

47.949.848.749.149.449.0

1 Agrees in concept with money supply, Table C-45, except for deduction of demand deposits held bymutual savings banks and savings and loan associations. Data for last Wednesday of month.

2 Excludes holdings of Government agencies and trust funds, domestic commercial and mutual savingsbanks, Federal Reserve Banks, and beginning February 1960, savings and loan associations.

3 Preliminary.

NOTE.—Between January and August 1959, series for all commercial banks expanded to include data forall banks in Alaska and Hawaii. Data for all member banks include one national bank in Alaska begin-ning 1954.


264


TABLE C-47.—Bank loans and investments, 1929-65


End of year or month

19295

19308 . . . . . . . .19315

1933 51934 519351936 - . . . _19371938193919401941194219431944194519461947194811949-. . _ .195019511952 .195319541955195619571958. .195919601961 _ .1962 •1963 8

1964 _1965 7

1964: JanF e b .MarApr .MayJuneJulyAugSeptOctNovDec

1965: Jan . . ._FebMarAprMay. . . .JuneJuly 7

Aug7

Sept 7Oct7 -_ -Nov 7

Dec«7

All commercial banks iTotalloansand

invest-ments 2

49.448.944.936.130.432.736.139.638.438.740.743.950.767.485.1

105.5124.0114.0116.3

i 113.0118.7124.7130.2139.1143.1153.1157.6161.6166.4181.2185.9194.5209.8228.3246.5267.2294.0246.7248.4251.4251.8253.5256.3254.5258.7261.7261.1265.5267.2269.6272.1275.5277.3279.4282.8281.5286.1286.2288.9291.5294.0

Loans 2

35.734.529.221.816.315.715.216.417.216.417.218.821.719.219.121.626.131.138.1

141.542.051.156.562.866.169.080.588.091.495.6

107.6113.8120.5133.9149.4167.1191.8151.0151.8153.9155.4157.3160.0159.7161.5163.0163.2165.4167.1170.2171.9175.8177.1179.5183.0182.7185.8186.2188.0189.8191.8

InvestmentsU.S. Gov-ernmentsecurities

4.95.06.06.27.5

10.313.815.314.215.116.317.821.841.459.877.690.674.869.2

162.366.461.260.362.162.367.760.357.357.165.157.859.965.465.262.161.457.660.861.262.160.860.360.058.460.261.260.061.661.459.960.259.659.158.657.756.457.056.557.057.657.6

Othersecurities

8.79.49.78.16.56.77 17.97.07.27.17.47 26.86.16.37.38.19.0

19.210.312.413.414.214.716.416.816.317.920.520.520.823.929.235.038.744.634.935.435.435.635.936.336.437.037.537.938.538.739.540.040.141.141.342.142.443.343.543.944.144.6

Weekly re-porting mem-

ber banks 3

Businessloans4

5.14.24.75.37 16.36.46.57.3

11.314.715.613.917.921.623.423.422.426.730.831.831.730.732.232.935.238.842.150.637.237.638.238.138.338.738.538.940.039.940.542.141.843.044.644.645.246.846.346.948.148.249.050.6

1 Data are for last Wednesday of month (except June 30 and December 31 call dates) for all commercialbanks. Seasonally adjusted data beginning 1948.

2 Adjusted to exclude interbank loans beginning 1948.3 Member banks are all national banks and those State banks which have taken membership in the

Federal Reserve System. Weekly reporting member banks comprise about 350 large banks in over 100leading cities. Data are for last Wednesday of month.

4 Commercial and industrial loans and prior to 1956, agricultural loans. Beginning July 1959, loans tofinancial institutions excluded. Series revised beginning July 1946, October 1955, July 1958, and July 1959.Prior to 1943 published data adjusted to include open market paper.

5 June data are used because complete end-of-year data are not available prior to 1935 for U.S. Governmentobligations and other securities.

e Commercial bank data are estimates for December 31.7 Preliminary.NOTE.—National bank data in Alaska and Hawaii included beginning April 1954 and 1959, respectively.

All other bank data in Alaska and Hawaii included beginning January 1959 and August 1959, respectively.Source: Board of Governors of the Federal Reserve System.

265


TABLE C-48.—Bond yields and interest rates, 1929-65

[Percent per annum]

Year or month3-monthTreas-

urybills i

1929

19301931193219331934

19351936193719381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

1965

1963: Jan..Feb.Mar.Apr.MayJune.


XJ.S. Government securities

()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

1.7532.6583.2671.8393.405

2.9282.3782.7783.1573.549

3.954

2.9142.9162.8972.9092.9202.995

3.1433.3203.3793.4533.5223.523

9-12monthissues 2

()(8)

()0.75.79

.81

.82

.881.141.14

1.261.731.812.07.92

1.892.833.532.094.11

3.552.913.023.283.76

4.09

2.972.892.993.023.063.17

3.333.413.543.593.703.77

3-5year

issues 3Taxablebonds

2.662.12

1.291.111.40.83.59

.50

.73

.46

.34

.33

.18

.16

.32

.62

.43

.50

.932.132.561.82

2.503.123.622.904.33

3.993.603.573.724.06

4.22

3.473.483.503.563.573.67

3.783.813.883.913.974.04

2.462.472.48

2.372.192.252.442.31

2.322.572.682.942.55

2.843.083.473.434.08

4.023.903.954.004.15

4.21

3.893.923.933.973.974.00

4.013.994.044.074.114.14

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

3.063.363.893.794.38

4.414.354.334.264.40

4.49

4.214.194.194.214.224.23

4.264.294.314.324.334.35

Baa

High-grade

munic-ipal

bonds(Stand-ard &

Poor's)

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

3.533.884.714.735.05

5.195.085.024.864.83

4.87

4.914.894.884.874.854.84

4.844.834.844.834.844.85

Averagerate onshort-termbankloans

to busi-ness-

selectedcities

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

2.532.933.603.563.95

3.733.463.183.233.22

3.27

3.123.183.113.113.153.27

3.293.223.273.323.413.34

2.02.22.62.4

2.22.12.12.52.7

2.73.13.53.73.6

3.74.24.64.3

9 5.0

5.25.05.05.05.0

5.0

5.00

5.61

5.01

5.66

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

2.183.313.812.463.97

3.852.973.263.553.97

4.38

3.343.253.343.323.253.38

3.493.723.883.883.883.96

Fed-eralRe-

serveBankdis-

countrate

5.16

3.042.112 822.561.54

1.501.501.331.001.00

1.001.00

8 1.008 1.0081.00

8 1.008 1.00

1.001.341.50

1.591.751.751.991.60

1.892.773.122.163.36

3.533.003.003.233.55

4.04

3.003.003.003.003.003.00

3.243.503.503.503.503.50


266


TABLE C-48.—Bond yields and interest rates, 1929-65—Continued

[Percent per annum]

Year or month3-monthTreas-

urybills 1

1964: Jan .Feb.Mar.Apr.MayJune.


1965: Jan. .Feb.Mar.Apr.MayJune


U.S. Government securities

3.5293.5323.5533.4843.4823.478

3.4793.5063.5273.5753.6243.856

3.8283.9293.9423.9323.8953.810

3.8313.8363.9124.0324.0824.362

9-12monthissues 2

3.663.633.673.633.673.83

3.683.733.823.833.883.96

3.873.974.034.003.993.98

3.964.004.114.184.294.66

3-5year

issues 3Taxablebonds4

4.064.024.154.184.074.03

3.993.994.034.044.044.07

4.064.084.124.124.114.09

4.104.194.244.334.464.77

4.154.144.184.204.164.13

4.134.144.164.164.124.14

4.144.164.154.154.144.14

4.154.194.254.284.344.43

Corporatebonds

(Moody's)

Aaa

4.374.364.384.404.414.41

4.404.414.424.424.434.44

4.434.414.424.434.444.46

4.484.494.524.564.604.68

Baa

4.834.834.834.854.854.85

4.834.824.824.814.814.81

4.804.784.784.804.814.85

4.884.884.914.934.955.02

High-grade

munic-ipal

bonds(Stand-ard &

Poor's)

3.233.173.323.293.213.20

3.183.203.253.263.183.15

3.063.103.183.173.193.26

3.263.253.363.423.473.56

Averagerate onshort-termbankloans

to busi-n e s s -

selectedcities

4.99

4.98

5.00

4.97

5.00

5.27

Primecom-mer-cial

paper,4-6

months

3.973.884.003.913.894.00

3.963.883.894.004.024.17

4.254.274.384.384.384.38

4.384.384.384.384.384.65

Fed-eralRe-

serveBankdis-

countrate

3.503.503.503.503.503.50

3.503.503.503.503.624.00

4.004.004.004.004.004.00

4.004.004.004.004.004.42

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 Selected note and bond issues. Issues were partially tax exempt prior to 1941, and fully taxable there-

after.4 First issued in 1941. Series includes bonds which are neither due nor callable before a given number of

years as follows: April 1953 to date, 10 years; April 1952-March 1953, 12 years; October 1941-March 1952,15 years.

5 Treasury bills were first issued in December 1929 and were issued irregularly in 1930.• Not available before August 1942.i Not available on same basis as for 1939 and subsequent years.8 From October 30,1942, to April 24,1946, a preferential rate of 0.50 percent was in effect for advances secured

by Government securities maturing or callable in 1 year or less.0 Series revised to exclude loans to nonbank financial institutions.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 [InvestorsService, and Standard & Poor's Corporation.

267


T A B L E C—49.—Federal Reserve Bank credit and member bank reserves, 1929-65

[Averages of daily figures, millions of dollars]

Year and month

1929: Dec

1930: Dec1931: Dec1932: Dec1933: Dec1934: Dec1935: Dec1936: Dec1937: Dec __ __1938: Dec1939: Dec

1940: Dec1941: Dec1942: Dec _ _ .__1943: D e c .1944: Dec1945: Dec1946: Dec1947: Dec _ . _.1948: Dec1949: Dec

1950: Dec1951: Dec1952: Dec1953- Dec1954: Dec1955: Dec1956* Dec1957: Dec1958- Dec1959: Dec _

I960* Dec1961* Dec1962: Dec1963: Dec1964* Dec1965: Dec3

1964: JanFebMarA p rMay.June

JulyAugSeptOctNov _Dec

1965* JanFeb .MarAprMayJune

JulyAugSeptOctNov3

Dec 3

Reserve Bank credit outstanding

Total

1,643

1,2731,9502,1922,6692,4722,4942,4982,6282,6182,612

2,3052,4046,035

11,91419. 61224, 74424, 74622,85823,97819,012

21,60625, 44627,29927,10726,31726,85327,15626,18628,41229,435

29,06031,21733, 21836,61039,87343,853

35,77035,02835,45435,60235,98136,760

37,07737,17037, 57837,74738,42139,873

39,24539,24439,53539,88240,34041,153

41,65141,50441,61042, 04842,64943,853

U.S.Govern-ment se-curities

446

644777

1,8542,4322,4302,4302,4342,5652,5642,510

2,1882,2195,549

11,16618, 69323,70823, 76721, 90523,00218, 287

20,34523,40924,40025,63924, 91724,60224, 76523,98226,31227,036

27, 24829,09830, 54633,72937,12640,885

33,20033,00933,38933, 49833,90734,631

34,89835,11835,27335,33436,03637,126

36,68437, 05237,31537,63738,11138,840

39,24939,31839,10839,60140,12840,885

Memberbank

borrow-ings

801

337763281951067

1673

354

90265334157224134118

142657

1,593441246839688710557906

87149304327243454

256304259213255270

265334331309430243

299405416471505528

524564528490452454

Allother,

mainlyfloat

396

29241057

142325857474799

114180483659654702821729842607

1,1191,3801,3061,0271,1541,4121,7031,4941,5431,493

1,7251,9702,3682,5542,5042,514

2,3141,7151,8061,8911,8191,859

1,9141,7181,9742,1041,9552,504

2,2621,7871,8041,7741,7241,785

1,8781,6221,9741,9572,0692,514

Member bank reserves

Total

2,395

2,4152,0692,4352,5884,0375,7166,6656,8798,745

11,473

14,04912,81213.15212, 74914,16816, 02716, 51717, 26119,99016,291

17,39120,31021,18019, 92019.27919, 24019, 53519,42018,899

218,932

19,28320,11820,04020,74621,60922,715

20,67320,14620,21320,27720,22020,558

20,66520,56620,92821,03321,15921,609

21,62021,23121,24621,51121, 47221,709

21,86321,61721, 72921,95921,95822,715

Re-quired

2,347

2,3422,0101,909

i 1, 8222,2902,7334.6195,8085,5206,462

7,4039,422

10, 77611. 70112. 88414, 53615, 61716, 27519,19315,488

16.36419.48420, 45719,22718,57618,64618,88318,84318,38318,450

18,52719, 55019,46820,21021,19822,272

20,24219,75319,85519,89719,88320,168

20,26520,14920,50820,61820,76321,198

21,21520, 79020,90521,14521,14721,363

21,51321,18721,35621,61821, 58822,272

Excess

48

7360

5261766

1,7482,9832,0461,0713,2265,011

6,6463,3902,3761,0481,2841,491

900986797803

1,027826723693703594652577516482

756568572536411443

431393358380337390

400417420415396411

405441341366325346

350430373341370443

Memberbank freereserves(excess

reservesless bor-rowings)

-753

-264-703

245671

1 7382,9772 0391,0553,2195.008

6,6433,3852,372

9581,0191,157

743762663685

885169

-870252457

-245- 3 6

-133- 4 1

-424

669419268209168

- 1 1

1758999

16782

120

1358389

106- 3 4

168

10636

- 7 5-105-180-182

-174-134-155-149

- 8 2- 1 1

1 Data from March 1933 through April 1934 are for licensed banks only.2 Beginning December 1959, total reserves held include vault cash allowed.3 Preliminary.

NOTE.—Data for member banks in Alaska and Hawaii included beginning 1954 and 1959, respectively.


268


TABLE C-50.—Short- and intermediate-term consumer credit outstanding, 7929-65



1929

1930193119321933193419351936193719381939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

19601961196219631964-1965 «

1964: Jan__Feb . .Mar .AprMay .June.

Ju ly .AugSept_Oct . .NovD e c

1965: JanF e b . .Mar .Apr.May-June.

July . .Aug..Sept_Oct--Nov

Total

7,116

6,3515, 3154,0263,8854,2185,1906,3756,9486,3707,222

8,3389,1725,9834,9015,1115,6658,38411, 59814,44717,364

21,47122,71227, 52031,39332, 46438,83042.33444,97045,12951,542

56,02857,67863,16469,89076,81086,100

69,20368,78668,91369,81670,94571,907

72,45673,06973,49573,92874,37176,810

76,14575, 74176,08577,48378,68779,887

80,68681,45481,924

83,39086,100

Instalment credit

Total

3, 524

3,0222,4631,6721,7231,9992,8173,7474,1183,6864,503

5,5146,0853,1662,1362,1762,4624,1726,6958,996

11,590

14, 70315,29419, 40323,00523, 56828,90631,72033,86733,64239,245

42,83243,52748,03453,74559,39767,500

53,59753,55253,79554,38255,12055,914

56,49657,05557,44657, 82658,08559,397

59,34259,36359, 78860,80361,73962, 790

63,60964,39364,84665,36866,01267, 500

Auto-mobilepaper i

1,384

986684356493614992

1,3721,4941,0991,497

2,0712,458

742355397455981

1,9243,0184,555

6,0745,9727,7339,8359,809

13,46014,42015,34014,15216,420

17,68817,22319,54022,19924,52128,200

22,18922, 27122,47122,83023, 25523,702

24,02424,25124,29524,42324,36724, 521

24, 57424, 74325,06325, 61526,10926,685

27,17127,49327,55527, 76627,97628,200

Othercon-

sumergoods

paper *

Repairand

modern-izationloans 2

1,544

1,4321,214

834799889

1,0001,2901,5051,4421,620

1,8271,9291,195

819791816

1,2902,1432,9013,706

4,7994,8806,1746,7796,7517,6418,6068,8449,028

10,630

11,52511,85712,60513,76615,30317,500

13,63813,46713,45113,47613,59913,730

13,81313,92314,04614, 22214,43115,303

15,20414,98414,94415,05615,22915,422

15,57315, 73815,95416,21416,51517,500

181537253364219218298

371376255130119182405718853898

1,0161,0851,3851,6101,6161,6931,9052,1012,3462,809

3,1393,1913,2463,3893,5023,600

3,3543,3353,3213,3283,3643,395

3,4263,4663,4933,5093,5163,502

3,4733,4463,4403,4393,4843,524

3,5533,5973,6133,6253,6383,600

Per-sonalloans

569

579543464416459572721900927

1,088

1,2451,322974832869

1,0091,4961,9102,2242,431

2,8143,3574,1114,7815,3926,1126,7897,5828,1169,386

10,48011,25612,64314,39116,07118, 200

14,41614,47914,55214,74814,90215,087

15, 23315,41515,61215,67215,77116, 071

16,09116,19016,34116, 69316,91717,159

17,31217, 56517, 72417, 76317,88318,200

Noninstalment credit

Total

3,592

3,3292,8522,3542,1622,2192, 3732,6282,8302,6842,719

2,8243,0872,8172,7652,9353,2034,2124,9035,4515,774

6, 7687,4188,117

9,92410,61411,10311,48712,297

13,19614,15115,13016,14517,41318, 600

15,60615, 23415,11815,43415,82515,993

15,96016,01416,04916,10216,28617,413

16,80316,37816,29716, 68016, 94817,097

17,07717,06117,07817,20117,37818,600

hargeac-

counts

1,996

1,8331,6351,3741,2861,3061,3541,4281,5041,4031,414

1,4711,6451,4441,4401,5171,6122,0762,3812, 7222,854

3,3673,7004,1304,2744,4854,7954,9955,1465,0605,104

5,3295,3245,6845,8716,3006,800

5,3394,8054,6344,8335, 0995,238

5,2405,2315,2235,3525,3946,300

5,7245,1544,9775,2105,4535,528

5,5345,4985,4965,6455,7406,800

Other 3

1,596

1,4961,217

980876913

1,0191,2001, 3261,2811,305

1,3531,4421,3731, 3251,4181,5912,1362, 522•> 7292, 920

3,4013,7183,9874,1144.4115,1295,6195,9576,4277,193

7,8678,8279,446

10,27411,11311,800

10, 26710,42910,48410,60110,72610,755

10,72010,78310,82610,75010,89211,113

11,07911,22411,32011,47011,49511,569

11,54311,56311,58211,55611,63811.800

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

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 Preliminary; December by Council of Economic Advisers.

NOTE.—Data for Alaska and Hawaii included beginning January and August 1959, respectively.

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

269

795-983 O—66


TABLE C-51.—Instalment credit extended and repaid, 1946-65


Year or month

Total

Ex-tended paid

Automobilepaper

Ex-tended

Re-paid

Other consumergoods paper

Ex-tended

Re-paid

Repair andmodernization

loans

Ex-tended

Re-paid

Personalloans

Ex-tended

Re-paid

1946—1947._.1948---1949--.

1950---1951--.1952--1953--1954.-

1955.--1956--1957--1958--1959--.

I960—1961 - .1962—1963—1964...

1965i_

1964: Jan...Feb..Mar..Apr..May...June-July..Aug..Sept..Oct..Nov..Dec.

1965: Jan..Feb..Mar..Apr..May_June.

July.Aug.Sept.Oct..Nov.Deci

8,49512,71315, 58518,108

21,55823, 57629, 51431, 55831, 051

38,97239,86842, 01640,11948, 052

49, 56048,39655,12660, 82266, 070

74,700

6,78510,19013,28415, 514

18,44522,98525,40527,95630,488

33,63437, 05439, 86840, 34442, 603

45,97247, 70050, 62055, 11160,418

66,600

1,9693,6925,2176,967

8,5308,95611,76412,98111, 807

16, 73415,51516,46514,22617, 779

17,65416, 00719, 79622, 01323,565

27, 400

1,4432,7494,1235,430

7,0119,05810,00310,87911, 833

13,08214, 55515, 54515,41515, 579

16,38416,47217, 47819, 35421,243

23, 700

3,0774,4985,3835,865

7,1507,4859,1869,2279,117

10,64211, 72111,80711, 74713,982

14,47014, 57815, 68517, 00719,162

21, 400

2,6033,6454,6255,060

6,0577,4047,8928,6229,145

9, 75210, 75611, 56911, 56312,402

13, 57414,24614,93915, 84617,625

19,200

423704714734

835841

1,2171,3441,261

1,3931,5821,6741,8712,222

2,2132,0682,0512,1782,182

2,200

200391579

717772917

1,1191,255

1,3161,3701,4771,6261,765

1,8832,0151,9962,0352,069

2,100

3,0263,8194,2714,542

5,0436,2947,3478,006

10,20311, 05112,06912,27514, 070

15,22315,74417,59419,62421,161

23,700

Seasonally adjusted

5,2765,4215,4805,3715,5525,399

5,5415,5295,6175,5075,4565,816

5,8836,0226,0306,1896,1056,139

6,2786,2886,3316,3066,4056,700

4,8484,8424,9564,9595,0595,029

5,0585,0945,1045,0975,1555,256

5,2135,3815,3935,4455,4355,537

5,6125,6795,6485,7175,7486,000

1,8881,9531,9421,9612,0231,962

1,9962, 0172,0241,9241,8582,043

2,1202,2282,2292,2722,2152,250

2,3012,3132,3242,2662,4082,500

1,6841,7161,7351,7591,7761,768

1,7811,7891,8021,7881,8181,864

1,8301,8971,9241,9361,9401,960

1,9722,0301,9962,0282,1122,200

1111]1

:

,493,578,665,544,589,537

,546,570,588,582

L, 631L, 719

L,729L, 760L, 698L, 645L, 728L, 717

1,7921,7941,8341,8831,8521,900

1,4411,3951,4681,4531,4831,486

1,4481,4961,4911,4561,5091,505

1,5261,6321,5671,4871,5641,587

1,6121,6581,6291,6481,6661,700

185186179174187183

189186186180175180

181175186189190199

179194172177182200

176171174172175170

171172172167174177

171172171190172179

169180168170173200

1,7101,7041,6941,6921,7531,717

1,8101,7561,8191,8211,7921,874

1,8531,8591,9172,0831,9721,973

2,0061,9872,0011,9801,9632,100

2,5393,4053,9574,335

4,6605,7516,5937,3368,255

9,48410, 37311, 27611, 74112,857

14,13014,96716,20617,87619,481

21,600

1,5471,5601,5791,5751,6251,605

1,6581,6371,6391,6861,6541,710

1,6861,6801,7311,8321,7591,811

1,8591,8111,8551,8711,7971,900

i Preliminary; December by Council of Economic Advisers.

NOTE.—Data for Alaska and Hawaii included beginning January and August 1959, respectively. There-fore, the difference between extensions and repayments for January and August 1959 and for the year 1959does not equal the net change in credit outstanding.

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

270


TABLE C-52.—Mortgage debt outstanding, by type of property and of financing, 1939-65

[Billions of dollars!

End of year or quarter

1939

19401941194219431944

19451946194719481949 _.

19501951195219531954

19551956195719581959

196019611962196319641965 3

1962: I____I I —III. .IV..

1963: I -_ .II—III..IV..

1964: I . . . .I I . . .III...IV...

1965: I«...113.III 3IV 3.

Allprop-erties

35.5

36.537.636.735.334.7

35.541.848.956.262.7

72.882.391.4

101.3113.7

129.9144.5156.5171.8190.8

206.8226.3251.6281. 2311.6341.9

231.1237.8244.5251.6

257.1265.3273.4281.2

287.4295.5303.6311.6

317.7326.0334.0341.9

Nonfarm properties

Total

28.9

30.031.230.829.929.7

30.836.943.950.957.1

66.775.684.293.6

105.4

120.9134.6146.1160.7178.7

194.0212.4236.4264.4292.7320.7

216.8223.1229. 6236.4

241.6249.2256.8264.4

270.0277.5285.1292.7

298.3305.8313.3320.7

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

107.6117.7130.9

141.3153.1166.5182.2197.6212.9

155.3159.1162.9166.5

169.2173.7178.2182. 2

185.4189.8193.9197.6

200.5204.8209.0212.9

Governmentwritten

Total

1.8

2.33.03.74.14.2

4.36.19.3

12.515.0

18.922.925.428.132.1

38.943.947.250.153.8

56.459.162.265.969.2(*)

59.960.561.262.2

63.063.864.665.9

66.667.368.469.2

70.170.772.0

FHAin-

sured

1.8

2.33.03.74.14.2

4.13.73.85.36.9

8.69.7

10.812.012.8

14.315.516.519.723.8

26.729.532.335.038.3

30.330.931.532.3

33.033.534.335.0

35.736.337.438.3

39.039.740.9

under-

VAguar-

anteed

0.22.45.57.28.1

10.313.214.616.119.3

24.628.430.730.430.0

29.729.629.930.930.9(*)

29.629.629.629.9

30.030.330.430.9

31.030.931.130.9

31.031.031.1

Con-ven-

tional i

14.5

15.115.414.513.713.7

14.316.918.920.822.6

26.328.833.138.043.6

49.355.160.467.677.0

84.893.9

104.3116.3128.4

95.498.7

101.7104.3

106.2109.9113.6116.3

118.8122.5125. 4128.3

130.5134.1136.9(*)

Multi-family

andcom-

mercialprop-

erties 2

12.5

12.612.912.512.111.8

12.213.815.717.619.5

21.623.925.727.529.7

32.635.638.543.047.9

52.759.369.982.295.1

107.8

61.564.066.769.9

72.475.578.682.2

84.687.791.295.1

97.7101.0104.3107.8

Farmprop-erties

6.56.46.05.44.9

4.84.95.15.35.6

6.16.77.27.78.2

9.09.8

10.411.112.1

12.813.915.216.818.921.2

14.214.714.915.2

15.616.216.616.8

17.318.118.518.9

19.520.220.721.2

1 Derived figures.2 Includes negligible amount of farm loans held by savings and loan associations.3 Preliminary.* Not available.

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

271


TABLE C-53.—Net public and private debt, 1929-65 l


End ofyear2

1929—-

1930-___1931-..-1932—_1933-...1934....

1935....1936..-.1937—-1938..--1939..-.

1940—_1941....1942—1943—.1944-.._

1945—-1946-...1947—.1948....1949-...

1950-..-1951195219531954

1955—.1956—.1957—_19581959—-

I960—.1961-.--19621963—-1964—-1965 5 . .

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

490.3524.0555.2586.5612.0

672.3707.5738.9782.6846.2

890.2947.8

1,019. 51,095. 71,171.71,260.0

Fed-eralGov-ern-

mentand

agency

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

231.5225.4224.4232.7243.2

241.0248.1255.8261.0267.2270.0

Stateandlocalgov-ern-

ment2

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

38.442.746.750.955.6

60.065.073.779.585.292.8

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

250.9282.2306.5329.8348.4

402.5439.4467.8499.1547.4

589.2634.7690.0755.2819.4897.2

(

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

212.1231.7246.7259.5283.3

302.8324.4348.4376.2401.7439.5

Corporate

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

90.0100.1112.1121.2129.3

139.1149.5161.4174.5188.0206.0

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

122.2131.7134.6138.4154.0

163.6175.0187.0201.7213.7233.5

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

108.8119.7135.5150.3165.6

190.4207.7221.1239.5264.1

286.4310.3341.6379.0417.6457.7

Farm 3

12.2

11.811.110.19.18.9

9.18.68.69.08.8

9.19.39.08.27.7

7.37.68.6

10.812.0

12.313.615.216.917.6

18.819.520.323.323.0

25.127.530.233.235.741.1

Nonfarm

Total

60.1

59.353.346.641.540.6

40.541.742.340.942.0

43.946.340.940.542.9

47.453.062.372.481.8

96.6106.2120.4133.6147.9

171.6188.2200.8216.2241.1

261.4282.8311.4345.8382.0416.6

Mort-gage

31.2

32.030.929.026.325.5

24.824.424.324.525.0

26.127.126.826.126.0

27.032.538.845.150.6

59.467.475.283.894.6

108.7121.3131.6144.6160.8

174.5190.4210.6234.0259.3283.5

Com-mer-cialand

finan-rial *

22.4

21.617.614.011.711.2

10.811.211.310.19.8

9.510.08.19.5

11.8

14.712.111.912.913.9

15.816.217.818.420.8

24.024.424.326.528.7

30.834.837.642.045.847.0

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

21.422.627.431.432.5

38.942.544.845.151.5

56.057.763.269.976.886.1

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, see Survey of Current Business, October 1950.

2 Data for State and local government debt are for June 30.3 Farm mortgages and farm production loans. Farmers' financial and consumer debt is included in the

nonfarm categories.4 Financial debt is debt owed to banks for purchasing or carrying securities, customers' debt to brokers,

and debt owed to life insurance companies by policy holders.5 Preliminary estimates by Council of Economic Advisers.

NOTE.—Revisions for 1929-39 and 1955-57 in the consumer credit data of the Board of Governors of theFederal Reserve System have not yet been fully incorporated into this series.

Sources: Department of Commerce (Office of Business Economics), Treasury Department, Board ofGovernors of the Federal Reserve System, and Federal Home Loan Bank Board (except as noted).

272


GOVERNMENT FINANCETABLE C-54.—U.S. Government debt, by kind of obligation, 1929-65



1929 _ _ _1930 _193119321933193419351936193719381939 _1940194119421943 .19441945 . . .1946194719481949195O._19511952 _ _195319541955195619571958195919601961 _ _196219631964 _19651964- J a n

FebMarA p rMayJuneJulyAug _ __ __SeptOct _ _NovDec

1965: JanFeb .MarApr ___ __M a yJune --JulyAugSept . . .OctNovDec-_.

Grosspublic

debt andguar-

anteedissues i

16 316 017.820.824 031.535.139.141.944 447.650.964.3

112.5170.1232.1278.7259.5257.0252.9257.2256.7259.5267.4275.2278.8280.8276.7275.0283.0290.9290.4296.5304.0310.1318.7321.4309.3311.1310.4308.4312.3312.5312.0314.9316.5316.5319.3318.7318.6320.6318.4317.2319.8317.9317.1318.7317.3319.4322.2321.4

Interest-bearing public debt

Marketable publicissues

Short-term

issues2

3 32 92 85.97 5

11 114.212.512 59 87.77 58.0

27.047 169.978.257 147.745.950.258.365.668.777.376.081.379.582 192.2

103.5109.2120.5124.6121 2115.5110.4119 9122 2121 2120.4119 5118.0109.7110.6111 9113.1115.4115.5111.6114.3112 0112.0108.5106.2106.2104.1104.1107.8110.4110.4

Treasurybonds

11 311 313 513.414 715.414.319.520.524 026.928 033.449.367.991.6

120.4119.3117.9111.4104.894.076.979.877.281.881.980.882 183.484.879.875.578.486 497.0

104.288 787.087.087.088.588.597.197.197.197.097.097.0

102.8100.6100. 5100.5102.5102.5102.5104.3104.3104.3104.2104.2

Nonmarketable public issues

UnitedStates

savingsbonds

0.2.5

1.01 42.23 26.1

15.027 440.448.249 852.155.156.758.057.657.957.757.757.956.352 551.248.247.247.547.548 849.750.348 949 049 149.149 249.349 449.449 549.649 749.749.849.949 950.050.050.050.150.250.250.350.350.3

Treasurytax andsavingsnotes

2.56.48 69.88.25 75.44.67.68.67.55.86.04.5

0)

(8)

(6)(6)(6)

•)(6)

(6)

(6)

81

1

Invest-ment

bonds 3

1.01.01.01.0

13.013.412.912.712.311.610 39.07.66.25.14.43.73.42.83 63.63.63.63.63.53.53.53.53.43.43.43.43.33.33.33.33.33.33.33.22.82.82.8

Specialissues 4

0 6. 8. 4.4.4.6.7.6

2.23 24.25.47.09.0

12.716.320.024.629.031.733.933.735.939.241 242.643.945.645.844.843.544.343.543.443.746.146.341.942.943.242.045.046.645.747.447.446.346.746.144.245.645.744.447.848.647.849.848.147.047,146.2

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, armed forces leavebonds, Rural Electrification Administration series bonds, foreign series certificates and notes, foreign cur-rency certificates and bonds, Treasury certificates, and U.S. retirement plan 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 through September 1965 and, beginning April 1951, series B convertible bonds.4 Issued to U.S. Government investment accounts. These accounts also held $15.6 billion of publicmarketable and nonmarketable issues on December 31, 1965.5 Less than $50 million.

• The last series of Treasury savings notes matured in April 1956.Source: Treasury Department.

273


TABLE G-55.—Estimated ownership of U.S. Government obligations, 1939—65

[Par values,1 billions of dollars]

End of year ormonth

Gross public debt and guaranteed issues 2

Total

Heldby U.S.

Gov-ern-

mentinvest-mentac-

counts

Heldby

FederalReservebanks

Held by "the public"

TotalCom-

mercialbanks

Mutualsavingsbanksand in-surance

com-panies

Othercorpora-tions *

Stateandlocal

govern-ments 5

Individ-uals e

Miscel-laneousinves-tors 7

193919401941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965*1964: Jan

FebMarAprMayJuneJulyAugSeptOctNovDec

1965: JanFebMarAprMayJuneJulyAugSeptOctNov _Dec 8

47.6

50.964.3

112.5170.1232.1278.7259.5257.0252.9257.2256.7259.5267.4275.2278.8280.8276.7275.0283.0290.9290.4296.5304.0310.1318.7321.4309.3311.1310.4308.4312.3312.5312. 0314.9316.5316.5319.3318.7318.6320.6318.4317.2319.8317.9317.1318.7317.3319.4322.2321.4

6.57.69.5

12.216.921.727.030.934.437.339.439.242.345.948.349.651.754.055.254.453.755.154.555.658.060.661.956.557.557.656.159.461.159.961.861.860.561.260.659.160.460.759.262.763.462.364.863.662.362.861.9

2.52.22.36.2

11.518.824.323.322.623.318.9

20.823.824.725.924.924.824.924.226.326.627.428.930.833.637.040.832.833.233.833.234.234.835.135.235.435.736.837.036.736.937.637.838.739.139.239.039.839.740.640.8

38.641.152.594.0

141.6191.6227.4205.2200.1192.2198.9

196.8193.4196.9201.0204.2204.3197.8195.5202.3210.6207.9213.1217.6218.5221.1218.7220.0220.5219.0219.1218.8216.6217.0218.0219.3220.2221.4221.1222.8223.3220. 2220.3218.5215.4215.6214. 9213. 9217.5218.8218.7

15.917.321.441.159.977.790.874.568.762.566.8

61.861.663.463.769.262.059.559.567.560.362.167.267.264.364.060.362.962.261.661.160.060.259.360.161.962.263.664.062.961.760.459.758.458.357.356.557.559.760.060.3

9.410.111.915.821.228.034.736.735.932.731.5

29.626.325.525.124.123.121.320.219.919.518.117.517.617.116.815.817.217.217.217.117.016.916.917.117.217.016.916.817.117.217.016.816.616.316.316.316.316.015.815.8

2.22.04.0

10.116.421.422.215.314.114.816.8

19.720.719.921.519.123.218.717.718.121.418.718.518.618.717.916.020.021.019.820.220.818.519.019.017.718.718.517.918.619.017.217.017.615.115.916.114.715.616.716.0

0.4.5.7

1.02.14.36.56.37.37.98.1

8.89.6

11.112.714.415.416.316.616.518.018.719.020.121.121.222.921.221.421.722.622.622.522.222.622.121.921.621.222.223.023.224.324.424.124.123.823.123.422.922.9

10.110.613.623.737.653.364.164.265.765.566.3

66.364.665.264.863.565.065.964.963.769.466.165.966.068.270.072.368.769.069.568.769.169.269.569.0

69.770.070.671.071.571.271.271.171.771.772.072.172.272.3

0.7.7.9

2.34.47.09.18.18.48.99.4

10.5•10.611.713.213.915.616.116.616.622.124.225.028.029.231.231.430.129.629.129.629.229.330.230.230.930.631.231.231.531.430.831.330.230.530.330.530.230.831.331.4

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 debtlimitation.3 Includes commercial banks, trust companies, and stock savings banks in the United States and Terri-tories and island possessions; figures exclude securities held in trust departments. Since the estimates inthis table are on the basis of par values and include holdings of banks in United States Territories and pos-sessions, they do not agree with the estimates in Table C-47, which are based on book values and relate onlyto banks within the United States.4 Exclusive of banks and insurance companies.5 Includes trust, sinking, and investment funds of State and local governments and their agencies, and ofTerritories and possessions.6 Includes partnerships and personal trust accounts.7 Includes savings and loan associations, nonprofit institutions, corporate pension trust funds, dealers andbrokers, and investments of foreign balances and international accounts in this country. Beginning withDecember 1946, the international accounts include investments by the International Bank for Reconstruc-tion and Development, the International Monetary Fund, the International Development Association, theInter-American Development Bank, and various U.N. funds, in special non-interest-bearing notes andbonds issued by the U.S. Government. Beginning with June 30, 1947, includes holdings of Federal landbanks.8 Preliminary estimates by Council of Economic Advisers.

Source: Treasury Department (except as noted).

274Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

T A B L E C-56.—Average length and maturity distribution of marketable interest-bearingpublic debt, 1946-65

End of year or monthAmount

out-standing

Maturity class

Within1 year

I t o 5years

5 to 10years

10 to 20years

20 yearsandover

Average length

Fiscal year:1946194719481949

1950..1951 .1952..1953..1954..

1955..1956..1957 .1958..1959..

I960..19611962..1963..1964_.1965.

1964: J a n . .Feb__Mar._Apr__May-June,

July . .Aug. .Sept.Oct- .Nov_.Dec._

1965: Jan__Feb_.Mar_.Apr._May-June .

July_.A u g -Sept_Oct_.Nov_.Dec.

Millions of dollars Years Months

189,606168, 702160,346155.147

155,310137,917140, 407147, 335150, 354

155, 206154, 953155, 705166. 675178, 027

183,845187.148196, 072203, 508206, 489208, 695

208,589209,218208, 223207,356208, 009206,489

206,776207,692208,981210,118212,414212,454

214,411214,863212,507212,451210,954208,695

208, 664208,402208,381212, 097214,619214,604

61,97451, 21148, 74248,130

42, 33843, 90846,36765, 27062, 734

49, 70358, 71471,95267, 78272, 958

70, 46781,12088, 44285, 29481, 42487, 637

88,44585,04684,04482,55482,93081,424

77, 23181,38982, 68984,13588.44388,451

86,79889,82987, 51788,12689,90187, 637

87,63592,44692.44496,49193,39293,396

24, 76321,85121, 63032, 562

51, 29246, 52647, 81436,16129,86639,10734, 40140, 66942, 55758, 304

72,84458, 40057, 04158, 02665, 45356,198

57, 50963,39263,41364, 05762,82565,453

60,67257, 44357,45263,42261, 42764,007

57,88659, 70362,13561,48756,17856,198

56,19255, 26655,26454,95260,59360,602

41,80735, 56232, 26416, 746

7,7928,70713, 93315, 65127, 515

34, 25328,90812,32821, 47617, 052

20, 24626, 43526,04937, 38534, 92939,169

37,90036,05336,04736,04137, 56134,929

43,01043, 00242, 99536, 72538,96336,421

43,90239,53237,12037,11639,17239,169

39,16635,03235,02735, 02435,02135,013

17, 46118, 59716, 22922,821

28, 03529,97925,70028,66228, 634

28, 61328, 57826, 40727, 65221, 625

12, 63010, 2339,3198,3608,3558,449

8,3578,3578,3568,3558,3558,355

8,3548,3548,3538,3536,1086,108

6,1076,1066,1066,1068,4508,449

8,4488,4488,4478,4468,4468,445

43, 59941, 48141,48134,888

25, 8538,7976,5941,5921,606

3,5304,3514,3497,208

7,65810, 96015, 22114,44416, 32817, 241

16,37816,37216,36316,35016,33916,328

17, 50817, 50517,49117, 48317,47317, 467

19,71819,69319, 63019,61617, 25317, 241

17, 22217, 21017,19917,18417,16717,148

104937

11104

111010

443210

544344

333100

NOTE.—All issues classified to final maturity except partially tax-exempt bonds, which are classified toearliest call date.

Source: Treasury Department.

275


TABLE C-57.—Federal administrative budget receipts by source and expenditures by functionfiscal years 1939-67 *


Fiscalyear

1939.__.

1940__-_19411942.___1943-___1944

19451946____19471 9 4 8 —1949.- .

1950-,-.19511952-__.1 9 5 3 —1954

19551956—19571 9 5 8 —1959

19601961 —1962 —1963—.1964

1965—1966 s...1967 5__.

Net receipts

Total

4,979

5,1377,096

12, 54721,94743, 563

44,36239,65039, 67741,37537, 663

36,42247, 48061,28764,67164,420

60,20967,85070,56268, 55067,915

77, 76377, 65981,40986,37689,459

93,072100,000111,000

Indi-vidualincome

taxes

1,022

9591,4003,2056,490

19, 701

18, 41516,15717, 83519,30515, 548

15,74521,64327,91330,10829, 542

28. 74732,18835, 62034, 72436, 719

40,71541,33845, 57147, 58848, 697

48, 79251, 40056, 240

Corpo-rate

incometaxes

1,138

1,1232,0294,7279, 570

14, 737

15,14611.8338,5699,678

11,195

10,44814,10621,22521,23821,101

17, 86120,88021,16720,07417,309

21,49420,95420,52321, 57923,493

25,46129, 70034,400

Excisetaxes(net)

1,861

1,9732, 5553,3934,0934,761

6,2676,9997,2077,3567,502

7,5498,6488,8519,8689,945

9,1319,9299,0558,6128,504

9,1379,0639,5859,915

10,211

10,9119,1698,879

Em-ploy-menttaxes

127

165117154160200

189213314

50235

225234256274283

579322328333321

339(4)

Estateandgift

taxes

357

357403421442507

638669770890780

698708818881934

9241,1611,3651,3931,333

1, 6061,8962,0162,1672,394

2, 7162, 9323,301

Cus-toms

302

331365369308417

341424477403367

407609533596542

585682735782925

1,105982

1,1421,2051, 252

1,4421, 6551,845

Mis-cella-neous

re-ceipts

188

237235286924

3,313

3,4803,4764,6143,8072,069

1, 4221,6201,7941,8592,309

2, 5623,0032, 7603,2003,160

4,0624,0803, 2064,4354,076

4,6195, 7917,047

Inter-fundtrans-actions

- 1 7

— 7— 7—9

- 3 9- 7 3

- 1 1 3— 122- 1 0 9- 1 1 3- 3 3

- 7 3- 8 8

- 1 0 4- 1 5 4- 2 3 5

- 1 8 1- 3 1 5- 4 6 7- 5 6 7- 3 5 5

- 6 9 4- 6 5 4- 6 3 3- 5 1 3- 6 6 4

- 8 7 0- 6 4 7- 7 1 2

Expenditures

Total

8,841

9,05513,25534,03779, 36894, 986

98,30360,32638,92332,95539,474

39,54443,97065,30374,12067, 537

64,38966, 22468,96671, 36980,342

76, 53981, 51587, 78792, 64297,684

96, 507106,428112,847

Na-tional

defense

1,075

1,4986,054

23,97063,21676, 757

81,27743, 22614,39811,77912,926

13,01822,47144,03750,44246,986

40, 69540,72343,36844,23446, 483

45, 69147, 49451,10352,75554,181

50,16356, 56060, 541

Interna-tionalaffairsand

finance

20

51145

1,8393,2993,642

3,3123,1076,5364, 5666,052

4,6743,7362, 8262, 2161, 732

2, 3102,4673,3113,3054,802

3,0643, 9544,3014,1513,687

4,3043,9324,177


276


TABLE G—57.—Federal administrative budget receipts by source and expenditures by function,fiscal years 1939-67—Continued *


Fiscalyear

1939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

196519665___1967 5__.

Expenditures—Continued

Spacere-

searchand

tech-nology

122330

3832353849

5462677990

74717689145

401744

1,2572,5524,171

5,0935,6005,300

Agri-culture

andagri-

culturalre-

sources

1,199

1,5381,3141,482

6101,215

1,607747

1,243575

2,512

2,795676

1,0602,9492,564

4,2464,2343,1863,3205,533

3,6063,6674,3385,3115,475

4,8984,3133, 372

Naturalre-

sources2

360

471452533501402

319342548743

1,057

1,206L, 275L; 375,484

L,326

1,2161,1251,3201,5701,705

1,7572,0562,2062,4312,563

2,7502,9205,062

Com-merce

a n dtrans-porta-tion

662

454577

2,6007,2117,725

4,143886655

1,2181,618

1,7591,6251,8881,9261,219

1,2251,8921,3051,6322,025

1,9632,5732,7742,8433,002

3,4993,2022,672

Hous-ingandcom-mu-nity

devel-op-

ment

-148

35129215309316

-185-193

35694

295

268531593396

-628

136- 1 0

-11830

970

122320349

- 6 7- 8 0

-10477

123

Healthlabor,a n d

welfare

3,866

3,0002,5361,9261,132

881

864865

1,1481,2131,433

1,7901,8631,9162,0522,122

2,1652,4622,6323,0593,877

3,6904,2444,5384,7895,475

5,8988,3779,962

Edu-cation

4143474794

15479626867

78103191320326

377343437541732

9431,0761,2441,339

1,5442,3182,834

Veter-ans

bene-fitsand

services

560

552566558606745

2,0954,4157,3816,6536,725

5,4004,9334,3684,341

4,5224,8104,8705,1845,287

5,2665,4145,4035,1865,492

5,4955,1225,721

In-terest

950

1,0561,1231,2721,8252,623

3,6624,8165,0125,2485,445

5,8175,7145,9346,5836,470

6,4386,8467,3077,6897,671

9,0509,1989,98010,765

11, 43512,10412,854

Gen-eralgov-ern-ment

335

370409515825989

8801,0471,3531,2631,054

1,1701,3071,4451,4611,226

1,1661,5761,7381,2841,466

1,5421,7091,8751,9792,280

2,4022,4762,591

Allow-ancefor

con-tin-gen-cies

75350

Inter-fundtrans-actions

-80

-14-101-933-236-433

139955196

-501239

267-793-961-154-235

-181-315-467-567-355

-694-654-633-513-664

-870-647-712

1 For administrative budget surplus or deficit, see Table C-58.2 Beginning with 1952, includes watershed projects of the Soil Conservation Service; these are classified

under "Agriculture and agricultural resources" in the earlier years.3 Includes adjustment to Daily Treasury Statement prior to 1953.* Less than $500,000.5 Estimate.

Sources: Treasury Department and Bureau of the Budget.

277


TABLE C-58.—Federal administrative budget receipts and expenditures and the public debt, 1929-67


Fiscal or calendar year

Fiscal year:1929

1930193119321933193419351936.193719381939 _

1940194119421943 - _19441945. . .1946194719481949

19501951 - -195219531954 _19551956 - - - --195719581959

1960196119621963196419651966 3 _1967 3

Calendar year:1948 . _ - -1949 - _

1950 - _ _19511952 . .1953 --- - - - -1954

19551956 - -195719581959 _ _

1960 - -19611962196319641965 4

Netreceipts i

3,861

4,0583,1161,9241,9973,0153,7063,9974,9565, 5884,979

5,1377,096

12,54721,94743,56344,36239,65039,67741,37537,663

36,42247,48061,28764, 67164,42060, 20967,85070, 56268,55067,915

77,76377,65981,40986,37689,45993,072

100,000111,000

40,80037,464

37, 23552,87764,70563,65460,938

63,11970,61671,74968,26272,738

79, 51878,15784, 70987, 51688,69696, 679

Expendi-tures

3,127

3,3203,5774,6594,5986,6456,4978,4227,7336,7658,841

9,05513,25534, 03779,36894 98698,30360,32638,92332,95539,474

39,54443,97065,30374,12067,53764,38966,22468,96671,36980,342

76,53981,51587,78792,64297,68496,507

106,428112,847

35,55941, 056

37,65756,23670,54772,81164,622

65,89166,83871 15775,34979,778

77,56584,46391,90794,18896,945

101,378

Surplusor

deficit (-)

734

738-462

-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

-4,017-9,449-3,117-4,180

1,6261,596

-2,819-12,427

1,224-3,856-6,378- 6 , 266- 8 , 226-3,435-6,428-1,847

5,241-3,592

-422-3,358-5,842-9,157-3,683

-2,7713,779

592- 7 , 088- 7 , 040

1,953-6,306-7,199- 6 , 672- 8 , 248- 4 , 699

Publicdebt at end

of year 2

16,931

16,18516,80119,48722, 53927,73432,82438,49741,08942,01845,890

48,49755,33276,991

140,796202 626259,115269,898258,376252,366252,798

257,377255, 251259,151266,123271,341274,418272,825270, 634276,444284,817

286,471289, 211298,645306,466312, 526.317,864320,000321,680

252,854257,160

256,731259,461267,445275, 244278, 784

280,822276,731275, 002283,031290, 925

290,373296,499303,988310, 089318,750321,359

1 Gross receipts less refunds of receipts and transfers of tax receipts to the old-age and survivors insurancetrust fund, the disability insurance trust fund, the railroad retirement account, the unemployment trustfund, and the highway trust fund.

2 Includes guaranteed issues. The change in the public debt from year to year reflects not only the budgetsurplus or deficit but also changes in the Government's cash on hand, and the use of corporate debt andinvestment transactions by certain Government enterprises.

3 Estimate.4 Preliminary.Sources: Treasury Department and Bureau of the Budget.

278


TABLE G-59.—Government cash receipts from and payments to the public, 7946-67


Fiscal or calendar year

Fiscal year:1946 . --194719481949

1950 --_195119521953 -_1954

19551956195719581959 . .-_ .

19601961196219631964

19651966 4

1967 4

Calendar year:1946.. . . .194719481949

19501951195219531954 _-

19551956.. .195719581959 -

19601961 --1962196319641965 6

Total

Cashre-

ceipts

54.255.659.457.2

57.972.188.493.695.2

92.9105.0112.7114.4116.3

133.8138.8146.4158.3167.4

175.6

52.757.259.857,7

60.278.892.693.192.8

97.8109.6116.2115.3123.9

138.6141.0153.3162.8169.1181.8

Cashpay-

ments

70.247.550.056.3

61.465.288.798.695.6

97.2101.3111.5118.0131.8

132.5141.2152.7161.5171.3

176.8

50.850.651.659.7

61.078.193.3

100.195.0

99.9105.0116.4124.8132.8

134.8148.4158.0166.5173.0184.8

Excessof re-ceiptsor ofpay-

ments

-16.08.19.4.8

- 3 . 56.9

- . 3-5 .0- . 5

-4 .33.71.2

-3 .5-15.6

1.3-2 .5- 6 . 3-3 .2-3 .9

-1 .2

1.96.68.1

-2 .0

- . 8.7

- . 7-7 .0-2 .2

—2.14.7

- . 2-9 .5- 8 . 9

3.7-7 .4- 4 . 8- 3 . 8-3 .9-3 .0

Cashre-

ceipts

43.543.545.441.6

40.953.468.071.571.6

67.877.182.181.981.7

95.197.2

101.9109.7115.5

119.7128.2145.5

41.444.344.94,1.3

42.4.59.371.370.268.6

71.480.384.581.787.6

98.397.9

106.2112.6115.0123.4

Federal i

Cashpay-

ments

61.736.936.540.6

43.145.868.076.871.9

70.572.580.083.594.8

94.399.5

107.7113.8120.3

122.4135.0145.0

41.438.636.942.6

42.058.072.077.469.7

72.274.783.489 095.6

94.7104.7111.9117.2120.3127.9


ments

-18.26.68.91.0

-2 .27.6

- 5 . 3- . 2

-2 .74.52.1

-1 .6-13.1

.8- 2 . 3-5 .8-4 .0-4 .8

-2 .7-6 .9

.5

.15.78.0

- 1 . 3

. 51.2

- . 6-7 .2- 1 . 1

— .75.61.1

-7 .2-8 .0

3.6-6 .8—5.7-4 .6-5 .2-4 .5

State and loc

Cashre-

ceipts

10.712.014.015.6

16.918.720.422.123.6

25.127.930.632.534.6

38.741.544.648.551.8

55.9

11.312.914.816.3

17.819.521.322.924.2

26.429.331.733.536.4

40.343.147.150.254.158.4

Cashpay-

ments

8.510.613.515.8

18.219.420.821.823.8

26.728.831.534.537.1

38.241.745.047.751.0

54.4

9.412.014.717.0

19.020.021.322.725.3

27.730.233.035.9.37.3

40.143.746.249.352.756.9


ments

2.21.5.5

- . 2

-1 .3- . 7- . 4

.3- . 2

-1 .6—.9

q—2.0-2 .5

.6- . 2—.5

. 8

.9

1.5

1.9.9.1

- . 7

- 1 . 3- . 5

2- 1 . 1

—1.4- . 9

- 1 . 3- 2 . 3- . 9

.2- . 5

.9

.91.31.5

1 For derivation of Federal cash receipts and payments, see Budget of the United States Government for theFiscal Year ending June 30, 1967, and Table C-62.

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 expenditures-less 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.) See TableC-60.

3 Surplus of $49 million.* Estimate.s Deficit of $13 million.6 Preliminary.

Sources: Treasury Department, Bureau of the Budget, Department of Commerce (Office of BusinessEconomics), and Council of Economic Advisers.

279


T A B L E G—60.—Government receipts and expenditures in the national income accounts, 1929—65


Calendar year or quarter

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..1959..

1960. .1961..1962._1963..1964._1965 <_

: I . . .II. _III.IV.

1964:II. .III_IV.

1965: III—III...IV*.

Total government

Re-ceipts

11.3

10.89.5

10.511.412.915.415.015.4.

17.725.032.649.251.253.250.956.858.956.0

68.784.889.894.389.7

100.4109.0115.6114.7128.9

139.8144.6157.0168.3172.7186.9

Ex-pendbtures

10.3

11.112.410.610.712.913.416.115.016.817.6

18.428.864.093.3

103.092.745.542.450.359.1

60.879.093.7

101.296.797.6

104.1114.9127.2131.0

136.1149.0159.9167.1175.1184.7

Sur-plus ordeficit(-)onincome

andprod-

uct ac-count

1.0

- 2 . 9- 1 . 8-1 .4-2 .4-2 .0- 3 . 1

.3- 1 . 8- 2 . 2

- 3 . 8-31.4-44.1-51.8-39.5

5.414.48.5

-3 .2

7.85.8

- 7 . 02.74.9.7

-12.5- 2 . 1

3.7- 4 . 3- 2 . 9

1.2- 2 . 4

2.3

Federal Government i

Re-ceipts

3.8

3.02.01.72.73.54.05.07.06.56.7

8.615.422.939.341.042.539.143.243.3

49.964.067.270.063.872.177.681.678.789.7

96.598.3

106.4114.3114.5124.1

Ex-pendi-tures

2.6

2.84.23.24.06.46.58.77.48.68.9

10.020.556.185.895.584.635.629.834.941.3

40.857.871.077.069.768.171.979.688.991.0

93.0102.1110.3114.0118.3123.5

Sur-plus ordeficit(-)onncomeandprod-

uct ac-count

1.2

.3- 2 . 1- 1 . 5- 1 . 3-2 .9-2 .6- 3 . 6- . 4

- 2 . 1-2 .2

- 1 . 3- 5 . 1

-33.1-46.6-54.5-42.1

3.513.48.4

-2 .4

9.16.2

- 3 . 8-7 .0- 5 . 9

4.05.72.1

-10.2-1 .2

3.5- 3 . 8-3 .8

.3-3 .8

State and localgovernment

Re-ceipts

7.6

7.87.77.37.28.69.18.69.1

10.010.410.610.911.111.612.915.317.619.3

21.123.325.227.228.831.434.738.241.646.0

49.953.658.663.168.674.2

Ex-pendi-tures


Sur-plus ordeficit(-) on

incomeandprod-

uct ac-count

7.8

8.48.57.67.28.18.68.18.49.0

9.39.18.88.48.59.0

11.014.317.420.0

22.323.725.327.029.932.735.639.544.046.8

49.654.157.662.267.272.6

165.3167.4168.9171.5

171.4169.6173.5176.5

184.8186.6186.4

(5)

166.8164.7167.2169.1

173.0176.1175.5175.7

180.1181.7187.1189.7

-1 .62.61.72.4

-1 .6-6 .4- 2 . 1

. 8

4.74.9

- . 7(5)

112.4113.9114.5116.2

114.8112.0114.6116.8

123.7124.4122.7

(')

114.9112.1113.9115.1

117.5119.6118.2117.9

120.1120.6125.6127.6

- 2 . 51.8.6

1.2

-2 .6-7 .6-3 .6- 1 . 1

3.63.8

- 2 . 9(5)

61.462.263.865.2

66.468.069.570.5

71.873.275.4(5)

60.561.362.763.9

65.466.867.968.6

70.872.173.274.2

-0.2

- . 8- . 3- . 1

.5

.6

.5

.7

.4

1.31.82.52.72.61.91.0.1

- . 7

- 1 . 2- . 4

(3)

-ill- 1 . 3- . 9

-1 .4- 2 . 3- . 8

.2- . 5

1.41.7

0.9.9.0.3

.0

.2

.5

1.11.12.2

* Preliminary estimates.«Not available.

1 See Note, Table C-61.2 Surplus of $32 million.3 Deficit of $41 million.NOTE.—Federal grants-in-aid to State and local governments are reflected in Federal expenditures and

State and local receipts and expenditures. Total government receipts and expenditures have been adjustedto eliminate this duplication.

Data for Alaska and Hawaii included beginning 1960.


280


TABLE C-61.—Federal Government receipts and expenditures in the national income accounts,1946-67


Year or quarter

Fiscal year:194619471948194919501951195219531954195519561957195819591960196119621963196419651966 2

1967 2

Calendar year:19461947194819491950195119521953195419551956195719581959196019611962196319641965 3

Calendarquar ter :1963: I

II.—III.

1964:IVIIIIIIIV

1965: I-II-IIIIV 3

Receipts

Total

Per-sonaltaxandnon-taxre-

ceipts

38.442.743.640.042.060.865.169.365.867.275.880.777.985.494.895.3

104.2110.2115.1119.6128.8142.2

39.143.243.338.949.964.067.270.063.872.177.681.678.789.796.598.3

106.4114.3114.5124.1

Cor-po-rate

profitstaxac-

cruals

16.918.820.016.316.523.228.831.430.329.733.636.736.338.242.543.647.349.650.751.254.860.5

17.219.619.016.118.126.131.032.229.031.435.237.436.839.943.644.748.651.548.653.9

8.310.611.211.011.921.519.319.717.318.721.120.617.821.522.320.322.923.625.327.029.331.1

8.610.711.89.8

17.021.518.519.517.020.620.620.218.022.521.721.822.724.526.028.3

Indi-rectbusi-

and

cru-als

7.47.97.98.08.29.59.7

10.710.410.010.811.711.611.913.213.314.215.015.616.815.916.5

7.87.88.08.08.99.4

10.310.99.7

10.711.211.811.512.513.513.614.615.316.116.8

Con-tribu-tionsfor

socialnsur-

5.85.54.64.85.56.67.37.57.88.7

10.211.712.213.816.718.119.922.123.624.628.834.1

5.55.14.54.95.97.17.47.48.19 3

10.612.212.414.817.718.220.523.023.725.2

Expenditures

Total

55.529.530.939.642.444.666.075.874.267.369.876.083.190.991.398.0

106.4111.4117.1118.3131.0142.7

35.629.834.941.340.857.871.077.069.768.171.979.688.991.093.0

102.1110.3114.0118.3123.5

Pur-chases

ofgoodsandserv-ices

40.113.013.219.319.025.146.656.153.243.945.247.750.754.752.755.560.963.465.864.570.774.4

17.212.516.520.118.437.751.857.047.444.145.649.553.653.753.557.463.464.465.366.7

Transferpayments

Toper-sons

0)8.38.78.1

11.38.18.59.3

10.512.112.814.417.819.820.623.625.126.427.328.232.037.0

9.28.87.68.7

10.88.58.89.5

11.512.413.415.719.520.121.524.925.527.027.829.9

Tofor-

eign-ers

(net)

0)1.82.65.04.33.12.62.11.72.11.81.91.71.81.82.12.12.12.22.12.22.2

2.21.93.85.13.63.12.12.01.82.01.91.81.81.81.92.12.22.22.22.2

jrrants-in-aid;o State

andlocal

govern-ments

0.91.51.82.12.42.42.52.82.93.03.23.74.76.2

7.68.49.8

10.912.814.7

1.11.72.02.22.32.52.62.82.93.13.34.25.66.86.57.28.09.1

10.411.4

Netin-ter-est

paid

Subsi-dieslesscur-rentsur-plusof

gov-ern-mententer-prises

3.74.24.24.34.44.64.84.85.04.95.15.55.75.97.0

7.58.18.69.09.7

4.24.24.34.44.54.74.74.95.04.95.35.75.66.47.16.67.27.88.4

2.1.7.5.8

1.01.31.1.9

1.01.31.72.82.52.42.33.23.83.63.84.14.34.7

1.6.6.7.8

1.21.31.0.8

1.11.52.42.62.72.12.53.84.03.64.34.5

Sur-plusor

defi-cit(-)onin-

comeandprod-uctac-

count

-17.113.212.7

.4- . 516.2

-1.0-6.5-8 .5- . 16.04.7

-5 .1-5.5

3.5-2.7-2 .1-1.2-1.9

1.2-2.2- . 5

3.513.48.4

-2.49.16.2

-3 .8-7.0-5.9

4.05.72.1

-10.2-1.2

3.5-3 .8-3.8

.3-3 .8

.6Seasonally adjusted annual rates

112.4113.9114.5116.2114.8112.0114.6116.8123.7124.4122.7(0

51.251.351.551.950.246.548.149.853.554.853.254.0

23.424.424.625.425.725.926.226.527.728.028.30)

15.215.215.315.515.616.016.416.417.716.716.116.5

22.622.923.23.23.23.

2535

23.92424.24.25

2792

25.8

114.9112.1113.9115.1117.5119.6118.2117.9120.1120. 6125.6127.6

65.463.664.264.465.067.064.964.364.965.766.569.7

27.26.

65

26.727.128.27.27.2729283230.

25672203

2.2.2.2.2.

02321

2.32.2.2.22.2.

10411

8.68.79.49.99.910.310.610.810.811.011.712.0

7.7.7.8.8.8.8.8.

66903254

8.68.78.8.89

3.73. 63.53.53.94.24.44.74.64.54.54.4

-2 .51.8.6

1.2-2.6-7 .6-3 .6-1 .1

3.63.8

-2 .90)

i Not available. 2 Estimate. 3 Preliminary estimates.NOTE.—These accounts, like the cash budget, include the transactions of the trust accounts. Unlike

both the administrative budget and the cash statement, they exclude certain financial transactions. Ingeneral, they do not use the cash basis for transactions with business. Instead, corporate profits taxesare included in receipts on an accrual instead of a cash basis; expenditures are timed with the delivery in-stead of the payment for goods and services; and CCC guaranteed price-support crop loans financedby banks are counted as expenditures when the loans are made, not when CCC redeems them.

Data for Alaska and Hawaii included beginning 1960.Sources: Department of Commerce (Office of Business Economics) and Bureau of the Budget.

281


TABLE C-62.—Reconciliation of Federal Government receipts and expenditures in the administra-tive budget and the consolidated cash statement with receipts and expenditures in the national in-

come accounts, fiscal years 1963-67[Billions of dollars]

Receipts or expenditures

RECEIPTS

Administrative budget receiptsPlus: Trust fund receiptsLess: Intragovernmental transactions

Receipts from exercise of monetary authorityEquals: Federal receipts from the public

Less:Coverage differences:

District of ColumbiaOther

Financial transactionsMiscellaneous

Plus:Netting differences:

Contributions to Government employees retire-ment funds

OtherTiming differencesMiscellaneous

Equals: Federal receipts in the national income and productaccounts

EXPENDITURES

Administrative budget expendituresPlus: Trust fund expenditures (including Government-

sponsored enterprises, ne t ) . .Less: Intragovernmental transactions

Debt issuance in lieu of checks and other adjust-ments

Equals: Federal payments to the publicLess:

Coverage differences:District of ColumbiaFederal home loan banks and Federal land banks.Other

Financial transactions:Net lendingNet purchase of foreign currency

Timing differences:Checks outstanding and certain other accounts

MiscellaneousPlus:

Netting differences:Contributions to Government employees retire-

ment fundsOther.

Timing differencesMiscellaneous

Equals: Federal expenditures in the national income andproduct accounts

Fiscal years

1963 1964 1965 1966 1 1967

86.427.74.3

(2)109.7

1.9- 1 . 9

1.7.1

110.2

92.6

26.54.3

1.2113.8

.3

.5

.2

.71.2

.1

.3

1.9- 1 . 9

.4

111.4

89.530.34.2

.1115. 5

2.0- 1 . 9

.4

97.7

28.94.2

2.0120.3

.31.8.2

1.8.9

2.0- 1 . 9

117.1

93.131.04.3

.1119.7

2.2- 1 . 5

.2

119.6

16.5

29.64.3

122.4

.41.2.2

2.2- 1 . 5

1.5.4

118.3

100.033.54.5

.9128.2

2.2- 2 . 1

1.0. 1

128.8

106.4

33.84.5

.7135.0

.4

.4

.3

1.51.0

- . 1.4

2.2- 2 . 1

.4

131.0

111.041.65.51.6

145.5

. 1

.2

. 1

2.2- 2 . 3- 2 . 6

.1

142.2

112.8

37.95.5

.2145.0

.5

.5

- 1 . 41.0

2.2-2.3

142.7

1 Data for 1966 and 1967 are estimates.

2 Less than $50 million.

NOTE.—Data for Alaska and Hawaii included.

Sources: Bureau of the Budget and Department of Commerce (Office of Business Economics).


TABLE C-63.—State and local government revenues and expenditures, selected fiscal years, 1927-64


Fiscal year J

1927

19321934.1936...1938

194019421944.19461948

195019521953 . . . .1954

1955 _ „ .1956195719581959

1960196119621963

1962-63 5

1963-64 5

General revenues by source 5

Total

7,271

7,2677,6788,3959,228

10, 41810,90812, 35617, 250

20, 91125,18127, 30729, 012

31, 07334,66738,16441, 21945,306

50, 50554, 03758, 25262, 890

62, 26968, 443

Prop-ertytaxes

4,730

4,4874,0764, f4,440

4,4304,5374,6044,9866,126

7,3498,6529,3759,967

10, 73511, 74912, 86414,04714, 983

16, 40518,00219, 05420, 089

19, 83321, 241

Salesand

grossre-

ceiptstaxes

470

7521,0081,4841,794

1,9822,351

2,9864,442

5,1546,3576,9277,276

7,6438,6919,4679,82910, 437

11, 84912, 46313, 49414, 456

14, 44615, 762

Indi-vidualincometaxes

70

7480153218

224276342422543

788998

1,0651,127

1,2371,5381,7541,7591,994

2,4632,6133,0373,269

3,2673,791

Corpo-ration

netincometaxes

92

7949

113165

156272451447592

817778

744890984

1,0181,001

1,1801,2661,3081,505

1,505

Reve-nuefromFed-eralGov-ern-ment

116

2321,016948800

945858954855

1,861

2,4862,5662,8702,966

3,1313,3353,8434,8656,377

6,9547,1317,8718,722

8,66310,002

Allotherreve-nue 3

1,793

1,6431,4491,6041,811

1,8722,1232,2692,6613,685

4,5415,7636,2526,897

7,5848,4659,2529,69910, 516

11, 63412, 56313,48914,850

14, 55515, 952

General expenditures by function '<

Total

7,210

7,7657,1817,6448,757

9,2299,1908.86311, 02817, 684

22, 78726,09827, 91030, 701

33, 72436, 71140, 37544, 85148, 887

51, 87656, 20160,20664, 816

63, 97769, 302

Edu-cation

2,235

2,3111,8312,1772,491

2,6382,5862,7933,3565,379

7,1778,3189,39010, 557

11, 90713, 22014,13415, 91917, 283

18, 71920, 57422, 21624, 012

23, 96526, 533

High-ways

1,7411,5091,4251,650

1,5731,4901,2001,6723,036

3,8034,6504,9875,527

6,4526,9537,8168,5679,592

9,4289,84410, 35711,136

11,15011, 664

Publicwel-fare

151

444889827

1,069

1,1561,2251,1331,4092,099

2,9402,7882,9143,060

3,1683,1393,4853,8184,136

4,4044,7205,0845,481

5,4205,766

Allother *

3,015

3,2692,9523,2153,547

3,8623,8893,7374,5917,170

8,86710, 34210, 61911, 557

12,19713, 39914, 94016,54717, 876

19, 32421,06322, 54924,187

23,44225, 339

1 Fiscal years not the same for all governments. See footnote 5.2 Excludes revenues or expenditures of publicly owned utilities and liquor stores, and of insurance-trust

activities. Intergovernmental receipts and payments between State and local governments are alsoexcluded.

3 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 urban renewal, local parks and recreation, general control, financial administration, intereston general debt, and other unallocable expenditures.

5 Data for fiscal year ending in the 12-month period through June 30. Data for 1963 and earlier yearsinclude local government amounts grouped in terms of fiscal years ended during ..the particular calendaryear.

NOTE.—Data are not available for intervening years.Data for Alaska and Hawaii included beginning 1959 and 1960, respectively.See Table C-54 for net debt of State and local governments.


283


CORPORATE PROFITS AND FINANGE

TABLE C-64.—Profits before and after taxes, all private corporations, 1929-65


Year orquarter

Corporate profits (before taxes) andinventory valuation adjustment

Allin-

dus-tries

Manufacturing

Total

Dur-ablegoods

in-dus-tries

Non-dur-ablegoods

in-dus-tries

Trans-porta-tion,com-

muni-cation,

andpublicutilities

Allother

in-dus-tries

Cor-po-rateprof-itsbe-fore

taxes

Cor-po-ratetaxlia-bil-ity1

Corporate profitsafter taxes

TotalDivi-dendpay-

ments

Un-dis-trib-utedprof-its

I

Corpo-rate

capitalcon-

sump-tion

allow-ances 2

Profitsplus

capitalcon-

sump-tion

allow-ances 3

1929-

1930.1931-1932-1933-1934-1935-1936-1937-1938-

194019411942-1943-194419451946194719481949

195019511952-19531954.19551956195719581959

I96019611962196319641965«

1963:

10.57.02.0

- 1 . 3-1 .2

1.73.45.66.84.96.39.8

15.220.324.423.819.219.325.633.030.837.742.739.939.638.046.946.145.641.151.7

49.950.355.58.164.573.1

5.23.91.3

- . 5- . 41.12.13.23.82.3

5.59.5

11.813.813.29.79.0

13.617.616.220.924.621.622.019.926.024.24.019.326.324.423.326.628.32.137.3

2.61.5

-1 .0- . 4

.3

.91.71.7.8

1.73.16.47.28.17.44.52.45.87.58.1

12.013.211.711.910.514.312.813.39.3

13.6

12.011.414.115.417.220.

2.62.41.3.5

(4).8

1.11.52.11.61.72.43.14.65.75.95.26.67.8

10.08.18.9

11.49.9

10.19.4

11.811.910.710.012.12.411.912.513.14.916.

1.81.2.5.2

.4

.4

.7

.8

.51.01.32.03.44.43.92.71.82.23.03.04.04.64.95.04.75.65.95.85.97.0

7.57.98.59.2

10.010.8

3.41.9.2

.91.72.22.12.03.03.75.16.26.76.78.59.9

12.511.612.713.513.312.613.415.215.615.815.918.4

17.919.120.520.222.424.9

10.03.7

- . 4- 2 . 3

1.02.33.66.36.84.07.0

10.017.721.525.124.119.724.631.535.228.942.643.938.940.638.348.648.847.241.452.149.750.355.458.664.874.6

1.4.8.5.4.5.7

1.01.41.51.01.42.87.6

11.414.112.910.79.1

11.312.510.417.822.319.420.317.721.621.721.219.023.7

23.023.124.226.027.630.1

8.62.9

- . 9-2 .7

.41.62.64.95.32.95.67.2

10.110.111.111.29.0

15.520.222.718.524.921.619.620.420.627.027.226.022.328.526.727.31.32.637.44.5

5.85.54.12.52.02.62.84.54.73.23.84.04.44.34.44.64.65.66.37.07.28.88.68.68.99.3

10.511.311.711.612.613.413.815.215.817.218.9

2.8-2 .6-4 .9-5 .2

- L 0—. 2

'.4.6

o

L83.25.75.96.66.54.49.9

13.915.611.316.013.011.011.511.316.5

10.815.913.213.516.016.819.925.6

Seasonally adjusted annual ratesI.IIIIIIV

1964: III....,I I I . . .IV _

1965: IIIIllIV s

56.357.659.159.663.664.565.564.971.772.073.5

26.828.729.529.731.932.132.532.337.336.737.3

14.215.416.116.117.517.117.517.120.820.120.7

12.613.413.413.514.415.015.015.316.616.616.6(0

9.19.59.49.9

10.110.210.110.510.511.0

20.619.720.120.421.922.322.822.523.824.925.2

56.158.558.960.864.064.565.365.973.173.974.6

24.926.026.127.027.327.527.828.129.529.830.1(7

31.232.632.833.836.737.037.537.843.644.144.5

15.615.715.816.116.717.117.417.718.018.619.219.9

15.616.817.017.720.019.920.120.025.725.525.3(7)

4.24.34.34.03.83.63.63.63.63.73.73.84.25.05.46.16.44.75.87.07.98.8

10.311.513.215.017.418.920.822.023.5

24.926.230.132.034.036.1

31.031.832.232.833.233.634.334.835.435.836.336.8

12.87.23.51.34.25.26.38.58.96.69.3

11.014.415.216.417.215.420.226.029.726.533.731.831.033.535.544.446.146.844.352.0

51.653.561.364.571.280.5

62.264.365.066.669.970.771.872.679.179.880.8

(1 Federal and State corporate income and excess profits taxes.2 Includes depreciation and accidental damages.8 Corporate profits after taxes plus corporate capital consumption allowances.4 Less than $50 million.8 Preliminary estimates.« Data for corporate profits are approximations for the year as a whole; data for fourth quarter are not

available. All other data incorporating or derived from these figures are correspondingly approximate.f Not available.

NOTE.—Beginning 1962 data reflect the new depreciation guidelines issued by the Treasury DepartmentJuly 11,1962, and the investment tax credit provided in the Revenue Act of 1962.



TABLE C-65.—Relation of profits after taxes to stockholders' equity, and to sales, private manu-facturing corporations, by industry group, 1958—65 1

Year orquarter

19581959

1960196119621963 —1964

1962-1IIIIIIV

1963: I ~IIIIIIV

1964: III - -IIIIV

1965- I - _IIIII

19581959 --_-.--

19601961196219631964

1962: I „IIIIIIV.. _

1963: IIIIII_-.__IV

1964: IIIIIIIV

1965: IIIIII

Allpri-vateman-ufac-tur-ingcor-

pora-tions

Totaldur-able

Lum-berand

woodprod-ucts(ex-ceptfurni-ture)

Fur-litureandfix-

tures

Stone,clay,andglassprod-ucts

Durable goods industries *

Pri-maryironandsteelin-

dus-tries

Pri-marynon-fer-

rousmetal

in-dus-tries

Fab-ri-

catedmetalprod-ucts

Ma-chin-ery(ex-ceptelec-

trical)

Elec-tricalma-

chin-ery,

equip-ment,

andsup-plies

Mo-tor

vehi-clesand

equip-ment

Air-craftand

parts

In-stru-

mentsandre-

latedprod-ucts

Mis-cella-neous

ing/'in(m-

mgord-

nance)

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

8.410.2

9.18.79.6

10.111.4

9.010.39.3

10.5

8.611.010.011.4

10.512.311.212.4

12.113.812.3

4.24.8

4.44.34.54.75.2

4.34.74.44.8

4.25.04.65.1

4.95.55.15.4

5.45.85.4

7.810.1

8.48.09.5

10.011.5

8.910.88.5

10.2

8.211.79.3

11.3

10.613.410.812.2

12.915.312.3

3.94.8

4.03.94.44.55.1

4.24.84.04.5

3.95.04.34.8

4.85.64.95.2

5.56.05.3

5.69.2

3.73.95.78.19.4

1.47.68.44.9

3.79.1

12.67.3

8.112.111.77.9

6.710.712.7

2.84.2

1.71.92.53.33.9

.73.23.42.1

1.73.54.62.8

3.44.54.43.2

2.94.24.7

6.28.5

6.44.87.78.29.8

4.67.2

10.69.1

3.57.9

12.09.6

7.09.0

11.512.8

9.813.014.5

10.012.4

9.68.78.78.69.3

3.711.811.98.0

1.512.911.88.4

4.112.412.59.2

4.612.113.5

7.18.0

7.36.15.46.98.7

7.65.83.45.0

5.19.65.57.8

7.69.48.0

10.1

11.011.58.6

5.97.8

7.27.07.47.69.6

8.28.85.87.3

6.98.16.98.6

9.210.48.4

11.2

11.813.310.4

7.37.8

5.56.07.88.1

10.0

6.39.88.66.9

5.98.9

10.08.3

7.411.011.410.7

11.315.014.1

6.89.6

7.57.78.99.6

12.1

8.110.89.28.2

7.911.19.79.7

10.713.912.912.3

12.015.814.4

9.911.9

9.28.89.79.9

11.0

9.210.49.2

11.0

9.210.29.6

11.2

9.710.811.013.3

11.713.113.2

Profits after taxes per dollar of sales—cents

2.02.7

2.11.62 S2.42.9

1.52.13.12.6

1.12.33.32.6

2.12.63.23.5

2.93.74.0

6.87.9

6.65.85.65.35.6

2.86.96.84.9

1.27.26.55.0

2.86.86.85.5

3.16.77.2

5.45.4

5.14.63.94.85.6

4.94.02.63.8

3.75.84.05.6

5.25.95.16.0

6.26.25.2

4.75.8

5.45.35.55.36.5

5.86.24.55.4

5.05.65.05.7

6.36.75.77.3

7.67.76.7

3.13.2

2.42.53.13.23.7

2.73.83.32.7

2.53.43.73.1

3.04.04.13.7

4.25.14.8

3.74.8

3.94.14.54.75.8

4.35.14.64.1

4.15.14.84.7

5.26.16.05.7

5.76.66.3

3.84.4

3.53.53.73.84.2

3.53.83.64.0

3.53.83.74.1

3.84.04.24.7

4.34.64.7

8.114.1

13.311.315.916,416.8

16.818.39.3

20.6

17.319.69.4

20.6

20.322.59.2

15.5

22.923.510.3

4.06.3

5.95.56.96.97.0

7.17.44.97.8

7.07.64.97.5

7.98.44.76.4

8.18.24.8

12.78.0

7.29.2

12.211.111.9

12.312.711.813.9

10.312.911.510.6

10.412.812.912.6

12.214.716.4

2.41.6

1.41.82.42.32.6

2.32.32.22.6

2.12.62.32.1

2.12.62.92.7

2.73.13.6

10.312.6

11.110.211.911.913.8

9.812.612.013.5

8.811.512.815.0

11.513.915.616.3

14.515.417.3

5.46.5

5.95.45.96.07.2

5.16.16.06.3

4.65.86.56.9

6.27.07.87.4

7.57.58.6

8.09.1

8.99.79.38.79.3

6.87.1

12.111,3

4.68.6

11.010.9

6.07.7

10.313.9

8.710.59.4

3.03.5

3.53.63.43.33.6

2.72.84.33.8

1.93.34.13.8

2.52 .93.84.7

3.63.93.4

* See next page for nondurable goods industries.See footnotes at end of table.

285


TABLE G—65.—Relation of profits after taxes to stockholders' equity and to sales, private manu-facturing corporations, by industry group, 1958—65 1—Continued

Year or quarter

Nondurable goods industries

Totalnon-dur-able

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

Rub-berandmis-cella-neousplasticprod-ucts

Leatherand

leatherprod-ucts

1960.1961.1962.1963 _1964.

1962: I .III I I .IV..

1963: II I . . .I I I . .IV...

1964: I . . .I I . .I I I .IV. .

1965: I . . .I I . .I I I .

Ratio of profits after Federal taxes {annual rate) to stockholders* equity—percent

19581959

19601961196219631964

1962: I . . . .II...III..IV..

1963: I . . . .II...III..IV..

1964: I. . . .II...III.IV..

1965: I. . . .II...III.

1958.1959.

9.010.2

9.79.49.8

10.311.3

9.19.8

10.010.8

9.110.410.711.4

10.411.311.712.5

11.412.312.4

8.69.1

8.68.78.78.99.8

7.18.9

10.29.1

7.18.9

10.29.7

8.29.6

11.510.8

9.510.411.6

13.113.1

13.113.412.913.013.1

11.712.913.714.0

11.113.614.414.3

10.614.314.014.6

11.514.314.6

3.57.4

5.84.96.16.18.4

5.36.36.07.3

4.46.26.67.0

5.87.2

10.210.6

9.910.510.9

4.98.6

7.66.99.17.5

11.2

6.77.9

11.311.4

6.46.78.78.9

8.68.5

17.212.4

9.510.815.3

8.09.3

8.47.78.18.09.1

7.48.78.08.3

6.38.47.99.8

8.29.78.8

10.5

8.810.19.9

9.011.0

10.48.3

10.19.2

12.2

7.711.111.610.6

6.39.9

12.77.5

10.313.714.511.8

13.812.415.6

11.113.4

12.111.612.312.914.3

11.513.512.212.5

11.114.312.713.5

13.115.514.015.1

14.516.415.0

9.79.6

9.910.09.9

11.111.2

10.08.89.7

11.8

11.010.311.012.9

11.610.810.512.8

11.611.811.5

8.810.8

8.99.09.39.1

10.4

9.110.98.59.8

8.210.28.89.7

9.111.310.711.4

10.211.711.1

4.44.9

4.84.74.74.95.4

4.44.64.85.0

4.44.95.05.3

5.05.45.45.6

5.45.65.6

Profits after taxes per dollar of sales—cents

2.22.4

2.32.32.32.42.7

1.92.32.72.3

1.92.32.72.5

2.22.63.02.7

2.52.73.0

5.45.4

5.55.75.75.95.9

5.45.55.86.1

5.35.86.16.3

5.36.16.06.2

5.56.06.1

1.63.0

2.52.12.42.33.1

2.22.52.42.8

1.82.42.52.5

2.32.73.73.7

3.73.83.8

1.01.5

1.41.31.61.42.1

1.31.41.91.9

1.21.21.51.6

1.71.62.92.1

1.92.02.7

4.75.2

5.04.74.64.55.1

4.44.94.54.5

3.74.74.45.3

4.75.34.95.5

4.95.45.3

3.14.0

3.62.83.43.24.3

2.63.63.93.4

2.23.44.52.5

3.64.85.03.9

4.94.35.3

7.07.9

7.57.37.47.57.9

7.27.67.37.5

6.88.07.47.7

7.58.27.78.0

7.78.27.9

9.59.5

10.39.7

10.810.9

9.58.89.5

11.0

10.210.010.612.1

10.810.510.312.1

10.911.010.9

3.54.0

3.63.83.73.64.1

3.74.13.43.7

3.43.93.53.6

3.74.34.24.2

3.94.14.1

5.58.26.24.46.96.8

10.4

5.26.40.6

5.84.48.09.3

8.4.9.1

12.012.6

10.910.511.2

1.72.2

1.61.11.81.82.6

1.61.41.62.4

1.51.22.12.3

2.12.42.93.0

2.72.72.7

1 Based on 1957 Standard Industrial Classification.

NOTE.-Data on a comparable basis are not available for earlier periods. For explanatory notes con-

Data for Alaska and Hawaii included for all periods.

Sources: Federal Trade Commission and Securities and Exchange Commission.

286


TABLE G—66.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1954-65


Sources or use of funds 1954

29.1

23.39.0

-.3

14.6

5.81.63.5.7

-1.0-.22.3

-3.01.8

26.9

20.5

21.41.1

-1.9

6.3-.2

2.1.2

-2.3

-.2.34.71.4

-2.2

1955

53.6

29.213.9

-1.7

17.0

24.51.92.8.73.4(2)8.54.23.0

50.7

29.7

24.0.7

4.9

21.05.2

1.0-.1

4.2

.1

.710.94.0

-2.9

1956

47.2

28.913.2

-2.7

18.4

18.32.33.6.44.8(2)5.3

-2.03.9

44.9

35.0

29.7.4

4.9

9.9-4.2

.2(2)

-4.5

.1

.47.66.0

-2.3

1957

42.0

30.611.8

-1.5

20.3

11.42.46.3.31.2.7.4

-2.32.4

40.7

33.8

32.6.7

.6

6.8-.2

-.4

.3

.23.03.7

-1.3

1958

42.1

29.58.3

-.3

21.4

12.62.15.71.2-.7.24.4

-2.32.1

40.9

26.5

27.51.5

-2.5

14.42.4

1.5.9

(2)

(2).57.53.6

-1.2

1959

55.5

35.012.6

-.5

22.9

20.62.23.01.23.1.44.62,23.8

52.8

35.1

29.21.7

4.1

17.75.6

-1.0-.4

6.6

.5

.86.93.7

-2.8

1960

47.3

34.410.0

.2

24.2

12.91.63.5.71.31.03.2

-2.23.9

42.5

36.7

32.51.2

3.0

5.8-4.1

-.51.3

-5.4

.6

.26.33.5

-4.8

1961

54.5

35.610.2

-.1

25.4

18.92.54.61.7(2).36.71.71.4

52.1

34.9

31.12.3

1.5

17.23.3

1.61.9

-.3

.1

.19.44.4

-2.4

1962

61.0

41.812.4

.3

29.2

19.2.64.62.92.4.73.8.43.8

56.0

42.0

34.33.0

4.7

14.02.4

-2.33.7

.2

.8

.97.82.9

-5.0

1963

63.6

44.313.8

-.4

31.0

19.3-.33.93.42.8.55.31.81.9

60.5

43.6

35.73.7

4.2

16.93.0

-1.93.9

.4

.7

.78.05.2

-3.1

1964

68.0

49.416.7

-.3

32.9

18.61.44.03.43.41.32.4.22.5

64.5

49.6

41.33.7

4.6

14.9.5

-2.63.2

-1.5

1.41.08.94.5

-3.5

1965

Sources, total

Internal sources *Undistributed profits KCorporate inventory

valuation adjust-ment

Capital consumptionallowances l

External sourcesStocksBondsMortgagesBank loans, n.e.cOther loansTrade debtProfits tax l iabil i ty. . .Other liabilities

Uses, total

Purchases of physicalassets

Nonresidential fixedinvestment

Residential structures-Change in business

inventories

Increase in financialassets3

Liquid assetsDemand deposits

and currency. __Time depositsU.S. Government

securitiesFinance company

paperConsumer creditTrade creditOther financial assets_

Discrepancy (uses lesssources)

86.7

55.422.0

- 1 . 5

34.9

31.2.2

6.33.68.61.55.71.63.7

81.7

58.7

49.13.6

6.0

23.0.7

- 3 . 65.0

- 1 . 5

.81.0

11.310.0

- 5 . 0

1 The figures shown here for "internal sources," "undistributed profits," and "capital consumption allow-ances" differ from those shown for "cash flow, net of dividends," "undistributed profits" and "capitalconsumption allowances" in the corporate gross product table for the following reasons: (1) these figuresinclude, and the statistics in the corporate gross product table exclude, branch profits remitted fromforeigners net of corresponding U.S. remittances to foreigners; and (2) these figures exclude, and thecorporate gross product figures include, the internal funds of corporations whose major activity is farming.

2 Less than $50 million.3 Includes some categories not shown separately.

NOTE.—Includes data for Alaska and Hawaii.


287


TABLE C-67.—Current assets and liabilities of United States corporations, 1939-65 l


End of year orquarter

Current assets

a .

ik2$

§§V4 O O

o

Current liabilities

l lNet

work-ing

capi-tal

1939..

1940..1941..1942..1943-1944_.

1945..1946 ..

1947..1948-1949-.

1950_.1951-1952..1953..1954-

1955-.1956-.1957..1958-1959-

1960..1961.1962..1963.1964-.

I—II-III.IV.

1964: I —II-III.IV.

1965; I.-II-III-

54.5 10.8 2.2

60.372.983.693.897.2

97.4108.1

123.6133.0133.1

161.5179.1186.2190.6194.6

224.0237.9244.7255.3277.3

289.0306.8326.7349.9371.0

328.6335.8342.9349.9

350.6356.7364.3371.0

376.4384.3

1.5

13.113.917.621.621.6

21.722.8

25.025.326.5

28.130.030.831.133.4

34.634.834.937.436.3

37.241.142.944.545.0

39.140.340.844.5

40.642.543.145.0

42.543.743.6

2.04.0

10.116.420.9

21.115.3

14.114,816.8

19.720.719.921.519.2

23.519.118.618.822.8

20.120.020.220.619.1

20.820.319.720.6

21.420.219.119.1

18.516.316.0

0.1.6

4.05.04.7

2.7.7

22.1

23.927.423.321.921.8

23.230.0

38.342.443.0

1.12.72.82.62.4

2.32.62.82.82.9

3.13.43.73.63.4

3.53.33.43.6

3.33.03.23.4

3.33.23.6

55.758.864.665.971.2

95.199.4

106.9117.7

126.1135.8146.7159.7173.8

148.9153.3158.1159.7

161.3165.6171.6173.8

177.5182.8188.3

18.0

19.825.627.327.626.8

26.337.6

44.648.945.3

55.164.965.867.265.3

72.880.482.281.988.4

91.895.2

100.9107.3114.3

102.6104.0105.8107.3

108.6109.6111.2114.3

117.3119.7123.4

1.4

1.51.41.31.31.4

2.41.7

1.61.61.4

1.72.12.42.43.1

4.25.96.77.59.1

10.611.412.414.315.5

13.614.615.214.3

15.515.916.115.5

17.218.418.6

30.0

32.840.747.351.651.7

45.851.9

61.564.460.7

79.892.696.198.999.7

121.0130.5

i.l136.6153.1

160.4171.2184.0198.8209.9

184.9189.8194.1198.8

195.9199.6204.9209.9

212.9218.0224.4

0.6.8

2.02.21.8

21.9

22.625.624.024.125.0

24.831.5

37.639.337.5

.41.32.32.22.4

2.32.42.31.71.7

1.81.82.02.52.7

2.32.52.52.5

2.62.62.72.7

2.82.93.1

47.953.657.057.359.3

73.881.584.388.7

105.0112.8121.2131.8140.0

121.7125.3128.1131.8

128.9131.7135.0140.0

141.4145.9150.2

1.2

2.57.1

12.616.615.5

10.48.5

10.711.59.3

16.721.318.118.715.5

19.317.615.412.915.0

13.514.115.016.317.0

14.214.315.316.3

15.615.216.017.0

16.615.917.0

7.17.28.78.79.4

9.711.8

13.213.514.0

14.916.518.720.722.5

25.729.031.133.337.0

40.142.545.748.250.2

46.747.748.348.2

48.850.151.250.2

52.153.254.1

24.5

27.532.336.342.145.6

51.656.2

62.168.672.4

81.686.590.191.894.9

103.0107.4111.6118.7124.2

128.6135.6142.8151.2161.1

143.7146.0148.8151.2

154.7157.1159.4161.1

163.5166.2169.1

1 All United States corporations, excluding banks, savings and loan associations, and insurance companies.Year-end data through 1961 are based on Statistics of Income (Treasury Department), covering virtually allcorporations in the United States. Statistics of Income data may not be strictly comparable from year toyear because of changes in the tax laws, basis for filing returns, and processing of data for compilation pur-poses. All other figures shown are estimates based on data compiled from many different sources, includingdata on corporations registered with the Securities and Exchange Commission. As more complete informa-tion becomes available, estimates are revised.

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.8 Includes marketable securities other than U.S. Government.

Source: Securities and Exchange Commission.

288


TABLE C-68.—State and municipal and corporate securities offered, 1934-65 l


Year or quarter

Stateand

munici-pal se-curitiesofferedfor cash

(prin-cipal

amounts)

Corporate securities offered for cash 2

Gross proceeds3

TotalCom-monstock

Pre-ferredstock

Bondsand

notes

Proposed uses of net proceeds4

Total

New money

TotalPlantand

equip-ment

Work-ing

capi-tal

Retire-mentof se-

curities

Otherpur-

1934

193519361937.19381939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964. . . . . .

1965 5

1963: I . . .II—III.IV.

1964: I . . .II...III.IV.

1965: I . . .II__III.IV6

1,2321,121

9081,1081,128

1,238956524435661

7951,1572,3242,6902,907

3,5323,1894,4015,5586,969

5,9775,4466,9587,4497,681

7,2308,3608,55810,10710,544

11,055

2,7982,8891,9672,453

2,6612,7642,6422,478

2,7462,9912,6942,623

397

2,3324,5722,3102,1552,164

2,6772,6671,0621,1703,202

6,0116,9006,5777,0786,052

6,3617,7419,534

9,516

10,24010,93912,88411, 5589,748

10,15413,16510,70512,23713,957

15,821

2,7003,6342,4363,466

2,5484,9652,8763,568

3,0075,0433,9123,859

19

222722852587

1081103456163

397891779614736

8111,2121,3691,3261,213

2,1852,3012,5161,3342,027

1,6643,2941,3141,0222,679

1,535

222344208249

2621,735357324

297665231342

862714068698

183167112124369

7581,127762492425

631838564489816

635636411571531

409450422342412

724

658179117

3815413783

132255151186

372

2,2244,0281,6182,0441,980

2,3862,390917990

2,670

4,8554,882

5,9734,890

4,9205,6917,6017,0837,488

7,4208,0029,9579,6537,190

8,0819,4208,96910,87210,865

13, 561

2,4143,2092,1493,100

2,2483,0762,3823,160

2,5784,1233,5293,331

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

10,04910,74912,66111,3729,527

9,92412,88510,50112,08113,792

15,610

2,6653,5872,4043,425

2,5184,9112,8373,526

2,9724,9773,8693,792

57

208858991681

569868474308657

1,0803,2794,5915,9294,606

4,0066,5318,1807,9606,780

7,9579,66311, 7849,9078,578

8,75810, 7158,2408,99311,233

12,897

2,0672,4251,8842,617

2,0864,4412,0772,629

2,4274,1643,1773,129

32

111380574504170

424661287141252

2,1153,4094,2213,724

2,9665,1106,3125,6475,110

6,7099,0407,7926,084

5,6627,4135,6525,4057,003

7,637

1,4531,5381,0161,397

1,1493,2301,2191,405

1,5202,3242,1041,689

26

96478417177155

145207187167405

4421,1641,1821,708882

1,0411,4211,8682,3131,670

2,6242,9542,7442,1152,494

3,0973,3032,5883,5884,230

5,261

614887868

1,220

9371,211858

1,224

9071,8401,0731,441

231

1,8653,3681,1001.2061,695

1,8541,583396739

2,389

4,5552,8681,352307401

1,271486664260

1,875

1,227364214549135

271868754

1,528754

943

314740295179

103173216262

234188336185

95

19320414822295

192172173100

267610524722952

984589537535709

864721663915814

8951,3021,5071,5611,805

1,770

285422225629

330297544635

311625356478

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, sales of investmentcompany issues, and issues to be sold over an extended period, such as offerings under employee-purchaseplans.

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

tors and other costs of flotation.5 Preliminary.

NOTE.—Data for Alaska and Hawaii included for all periods.

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

289


TABLE C—69.—Common stock prices, earnings, and yields, and stock market credit, 1939-65

Year or month

Standard & Poor's common stock data

Price index»

Total Indus-trial

Publicutilities

Rail-roads

Divi-dend

yield 2

(per-cent)

Price/earn-ings

ratio 3

Stock market credit

Customer credit (excludingU.S. Government

securities)

TotalNet

debitbal-

ances *

Bankloans

to"others" 5

Bankloans tobrokers

anddealers«

1941-43=10 Millions of dollars

1939194019411942194319441945194619471948194919501951195219531954195519561957195819591960196119621963196419651964: Jan_._

Feb . .Mar._Apr . .May .June..July. .Aug..Sept..Oct.. .Nov_.D e c .

1965: Jan. . .Feb . .Mar..Apr. .May.June..July..Aug-.Sept..Oct...Nov..D e c .

12.0611.029.828.67

11.5012.4715.1617.0815.1715.5315.2318.4022.3424.5024.73

40.4946.6244.3846.2457.3855.8566.2762.3869.8781.3788.1776.4577.3978.8079.9480.7280.2483.2282.0083.4184.8585.4483.9686.1286.7586.8387.9789.2885.0484.9186.4989.3891.3992.1591.73

11.7710.699.728.78

11.4912.3414.7216.4814.8515.3415.0018.3322.6824.7824.8430.2542.4049.8047.6349.3661.4559.4369.9965.5473.3986.1993.4880.8581.9683.6484.9285.7985.1388.1986.7088.2789.7590.3688.7191.0491.6491.7593.0894.6990.1989.9291.6894.9397.2098.0297.66

16.3415.0510.937.74

11.3412.8116.8420.7618.0116.7717.8719.9620.5922.8624.0327.5731.3732.2532.1937.2244.1546.8660.2059.1664.9969.9176.0867.2667.2066.7867.3067.2967.4670.3571.1772.0773.3774.3974.2475.8777.0476.9277.2477.5074.1974.6374.7176.1076.6976.7275.39

9.829.419.398.81

11.8113.4718.2119.0914.0215.2712.8315.5319.9122.4922.6023.9632.9433.6528.1127.0535.0930.3132.8330.5637.5845.4646.7841.0041.5442.8843.2744.8646.2948.9347.1747.1448.6948.0145.7546.7946.76

46.6345.5342.5243.3146.1346.9648.4650.2351.03

4.055.596.827.244.934.864.173.854.935.546.596.576.135.805.804.954.084.094.353.973.233.472.983.373.173.013.003.063.053.033.003.013.052.963.033.002.952.963.052.992.992.992.952.923.073.093.062.982.912.963.06

13.8010.248.268.80

12.8413.6616.3317.699.366.906.646.639.27

10.479.69

11.2511.5014.0512.8916.6417.0517.0921.0616.6817.6218.08

(7)

8(7)1,374

9761,032

9681,2491,7981,8261,9802,445

18.16

17.61

17.87

18.67

17.69

15.93

17.16

4,0303,9843,5764,5374,4614,4155,6025,4947,2427,053(7)

7,2507,1207,1417,3147,2777,2297,1607,0967,1427,1017,1087,0536,9406,8726,9417,0017,0857,0846,8336,8747,0367,1177,304

)

0)

333>

942473517499821

1,2371,2531,3321,6652,3882,7912,8232,4823,2853,2803,2224,2594,1255,5155,079

(7)5,5245,3845,3665,5105,4395,3705,2895,1875,2215,1855,1605,0794,9865,0075,0555,0665,1295,1144,8634,8864,9945,0735,209

(7)

o

353432503515469428561573648780

1,0481,2391,1611,0941,2521,1811,1931,3431,3691,7271,9742,1841,7261,7361,7751,8041,8381.8591,8711,9091,9211,9161,9481,9741,9541,8651,8861,9351,9561,9701,9701,9882,0422,0442,0952,184

715584535850

1,3282,1372,7821,471

7841,3311,6081,7421,4192,0022,2482,6882,8522,2142,1902,5692,5842,6143,3984,3524,7544,6314,1374,0953,8624.0424,0474,3174,6544,4433,9894,7943,8784,1334,6314,0113,8514,4344,5714,4955,3253,6733,7103,323

3,7344,137

1 Includes 500 common stocks, 425 are industrials; 50 are public utilities; and 25 are railroads. Annualdata are averages of monthly figures and monthly data are averages of daily figures.

2 Aggregate cash dividends (based on latest known annual rate) divided by the aggregate monthly marketvalue of the stocks in the group. Annual yields are averages of monthly data.

3 Ratio of quarterly earnings (seasonally adjusted annual rate) to price index for last day in quarter.Annual ratios are averages of quarterly data.

4 As reported by member firms of the New York Stock Exchange carrying margin accounts. Includesnet 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.

5 Loans by weekly reporting member banks to others than brokers and dealers for purchasing or carryingsecurities except U.S. Government obligations. From 1953 through June 1959, loans for purchasing orcarrying U.S. Government securities were reported separately only by New York and Chicago banks.Accordingly, for that period any loans for purchasing or carrying such securities at other reporting banksare included. Series also revised beginning July 1946, March 1953, July 1958, and April 1961. Data are forlast Wednesday of period. For details, see Federal Reserve Bulletin, June 1961.

8 Loans by weekly reporting member banks for purchasing or carrying securities, including U.S. Govern-ment obligations. Series revised beginning July 1946, January 1952, July 1958, July 1959, and April 1961.Data are for last Wednesday of period. For details, see Federal Reserve Bulletin, June 1961.

7 Not available.Sources: Board of Governors of the Federal Reserve System, Standard & Poor's Corporation, and New

York Stock Exchange.

290


T A B L E C-70.—Business population and business failures, 1929-65

Year or month

Index ofnet busi-

nessformation(1957-59=

100) i

Newbusinessincorpo-rations(num-ber) a

Business failures»*

Busi-

failurerate*

Number of failures

TotalUnder

$100,000

Liability sizeclass

$100,000andover

Amount of currentliabilities (millions of

dollars)

Total

Liability size

UnderUOO.OOO

$100,000andover

1929..1930..1931-1932-1933-1934-1935-

1937—1938...1939-1940..1941-1942-1943-1944-1945-1946-1947-1948-1949-1950..1951-1952..1953-1954-1955-1956..1957..1958-1959-1960196119621963 8196419651964: Jan__

Feb._Mar..

May~June.

July..Aug..Sept..Oct_.N o v -Dec._

1965: Jan . .Feb__Mar._Apr..May.June.July.Aug..Sept.Oct__Nov.D e c .

123.196.7

102.3102.8108.0103.599.8

107.6103.298.397.1

104.699.895.498.0

100.6104.4

« 106.1108.1102.8102.9103.7105.3103.9104.0103.6104.8106.6105.8106.8107.5107.6106.1105.8105.0106.8106.4106.4105.3105.1105.9

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

102,545117,164139,651140,775136,697

M50,280193,067182,713181,535182,057186,404197,724

16,25016,01815,99216,18015,91715,91915,97916,07416,60516,49817,10317,15417,27517,36717,11216,50416,04316,67116,36916,95717,18816,74417,418

103.9121.6133.4154.1

« 100.361.161.747.845.961.1

•69.663.054.544.616.46.54.25.2

14.320.434.434.330.728.733.242.041.648.051.755.951.857.064.460.856.353.253.363.965.366.661.849.463.2

64.959.166.350.760.348.262.861.754.860.854.160.1

52.856.969.751.551.4512

22,909

26,35528,28531.82219,85912,09112,2449,6079,49012,83614,768

13,61911,8489,4053,2211,222809

1,1293,4745,2509,246

9,1628,0587,611

11,08610,96912,68613,73914,96414,053

15,44517,07515,78214,37413,50113,514

1,2171,2411,3201,1971,0751,1571,0961,1691,0341,060967968

1,1371,1141,3321,1791,1831,094

1,0741,1311,1001,0471,0331,090

22,165

25,40827,23030,19718,88011,42111,6919,2859,20312,55314,541

13,40011,6859,2823,1551,176759

1,0023,1034,853

8,7467,6267,0818,07510,22610,11311,61512,54713,49912,70713,65015,00613,77212,19211,34611,340

9921,0501,139969914

1,003

9081,018837893810813950930

1,0971,0301,001881

906965893912

744

9471,0551,625•979670553322287283

•227219163123664650127371397538416432530787860856

1,0711,1921,4651,3461,7952,0692,0102,1822,1552,174225191181228161154188151197167157155187184235149182213168166207135140208

483.3668.3736.3928.3457.5334.0310.6203.2183.3246.5

« 182. 5166.7136.1100.845.331.730.267.3204.6234.6308.1248.3259.5283.3394.2462.6449.4662.7615.3728.3692.8

1,090.11,213.61,352.61,329.21,321.7

96.7123.9111.0112.993.4

144.5125.695.2

114.693.8

119.398.289.3

112.0146.683.2

133.1144.6121.5135.0105.082.171.797.6

261.5303.5354.2432.6

• 215.5138.5135.5102.8101.9140.1

« 132.9119.9100.780.330.214.511.415.763.793.9

161.4151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9327.2370.1346.5321.0313.6321.727.929.230.426.225.127.624.528.922.325.422.423.726.725.631.128.928.225.025.828.025.524.925.526.3

221.8364.8382.2495.7

• 242.0195.4175.1100.481.4

106.4•49.7

46.835.420.515.117.118.851.6

140.9140.7146.797.1

128.0151.4226.6251.2243.0322.9348.2430.7413.6611.4720.0867.1

1,031.61,015.61,000.0

68.994.780.686.668.3

116.9101.166.392.368.397.074.562.586.3

115.454.3

104.9119.695.7

107.079.457.246.271.3

1 Monthly data are seasonally adjusted.2 Total for period. Monthly data are seasonally adjusted.* Total for period.* 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.« Failure rate per 10,000 listed enterprises. Monthly data are seasonally adjusted.« Series revised; not strictly comparable with earlier data.7 Includes data for Hawaii beginning 1959 and Alaska beginning 1960. (Data for 1958 comparable to 1959

are 150,781; data for 1960 comparable to 1959 are 182,374.)s Includes data for District of Columbia beginning 1963.»Preliminary.Sources: Department of Commerce (Bureau of the Census) and Dun & Bradstreet, Inc.

29I


AGRICULTURETABLE G-71.—Income from agriculture, 1929-65

Year orquarter

1929

193019311932193319341935 - -1936193719381939

1940194119421943194419451946194719481949

195019511952195319541955195619571958,1959

196019611962-196319641965 8

1964" IIIIIIIV

1965: IIIIIIIVs

Personal incomereceived by totalfarm population

Fromall

sources

Fromfarm

sources

Fromnon-farm

sources1

Income received from fanning

Realized gross

Total 2

Cashreceipts

frommarket-

ings

Produc-tion ex-penses

Net to farmoperators

Exclud-ing netinven-tory

change

Includ-ing netinven-tory

change3

Billions of dollars

5.47.77.29.07.27.4

7.610.114.116.516.617.220.021.123.819.5

20.422.722.119.818.417.617.817.719.518.1

18.719.019.218.717.920.0

3.25.44.66.24.74.8

4.86.8

10.112.112.212.815.515.818.013.3

14.116.215.413.412.511.411.211.012.811.0

11.412.112.212.011.113.2

2.22.32.62.72.52.6

2.83.33.94.44.44.44.65.35.86.2

6.36.56.76.45.96.26.66.66.77.0

7.26.97.06.76.86.8

13.9

11.58.46.47.18.69.7

10.811.410.110.6

11.113.918.823.424.425.829.534.134.731.6

32.337.136.835.033.633.134.334.037.937.5

37.939.641.142.142.244.4

11.3

9.16.44.75.36.47.18.48.97.77.9

8.411.115.619.620.521.724.829.630.227.8

28.532.932.531.029.829.530.429.733.533.5

34.034.936.237.336.938.9

7.7

6.95.54.54.44.75.15.66.25.96.3

6.97.8

10.011.612.313.114.517.018.818.0

19.422.322.621.321.621.922.423.325.226.1

26.227.028.529.629.230.3

6.3

4.52.91.92.73.94.65.15.24.24.3

4.26.18.8

11.812.112.815.017.115.913.6

12.914.814.113.712.011.211.910.712.711.4

11.712.612.512.512.914.1

6.2

4.33.32.02.62.95.34.36.04.44.4

4.56.59.9

11.711.712.315.115.417.712.8

13.716.015.113.112.511.511.411.313.511.5

12.012.913.113.112.114.4

Net income perfarm, includingnet inventory

change

Currentprices

1965prices 4

Dollars

945

651506304379431775639905668685

7061,0311,5881,9271,9502,0632,5432,6153,0442,233

2,4212,9462,8962,6262,6062,4632,5352,5903,1892,795

3,0433,3893,5623,6713,4864,280

i son

1,3851,265

8691,0531,0781,9381,5982,1551,670

7*>fi

1,8102,4553,2433,5693,4213,4383,8533,3533,7122,827

3,0263,3483,2542,9842,9612.7672,8172,7863,4292,973

3,2033,5673,7103,7853,5584,280


42.142.342.342.1

42.245.044.845.5

36.937.037.036.7

36.739.539.340.0

29.529.329.229.0

29.730.230.331.1

12.613.013.113.1

12.514.814.514.4

12.012.112.112.3

12.114.615.115.6

3,4603,4803,4803,540

3,5904,3304,4804,620

3,5303,5503,5503,610

3,6304.3304,4804,620

1 Includes all income received by farm residents from nonfarm sources such as wages and salaries fromnonfarm employment, nonfarm business and professional income, rents from nonfarm real estate, dividends,interest, royalties, unemployment compensation and social security payments.2 Cash receipts from marketings, Government payments, and nonmoney income furnished by farms.3 Includes net change in inventory of crops and livestock valued at the average price for the year.

* Income in current prices divided by the index of prices paid by farmers for family living items on a1965 base.

* Preliminary.Source: Department of Agriculture.

292


TABLE C-72.—Farm production indexes, 1929-65

[1957-59=100]

Year

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.-1959.-

1960.-1961...1962...1963.-1964,__

1965 *_

Farmout-put i

62

6166645951

6155696768

7073828083

8184818887

8689929393

969795102103

106107108112112

116

Total 2

73

6977736554

7059817675

7879898388

8589859792

8991959493

969593104103

108107107112110

117

Feedgrains

62

5663735633

6038676565

6671817478

7582639180

8175797781

868593101106

1099910011097

113

Hayandorage

79

6672746964

8266758175

8686939190

9387848483

8992909292

989410110297

103102105105105

111

Foodgrains

68

7479634745

5554747763

6979837288

929511110792

868510910088

83878212197

11510698102114

117

Crops

Vege-tables

73

7475767380

8175828181

8384899792

94105919794

9689909593

9610298102100

103110108108106

112

Fruitsandnuts

75

7392757671

9070938496

9399988498

891061019298

98100979899

9910394102104

9810998102113

115

Cot-ton

120

11313810510578

861011549796

1028810593100

747197122131

82124124134111

1201088993118

116116121125123

122

To-bacco

88

9589588063

76689180110

84738181113

114134122115114

117135130119130

12712696100104

112119134135129

110

Oilcrops

13

1414131113

2116182229

3437566050

5452556761

7165636371

78929111198

105122123128129

155

Livestock and products

Total»

63

6465666761

5963626570

7175849186

8683828085

8892929396

99999799104

102106107111113

112

Meatani-mals

62

6366677059

5360586371

7276879788

8482817983

8995959498

1031009698106

103106108114116

112

Dairyprod-ucts

75

7678797978

7879798182

8489929192

9594939093

9392929798

9910110110099

101103104103104

104

Poul-try*andeggs

44

4544444441

4144444548

4954627171

7469686774

7881828487

869495101104

104112111115118

122

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 andmules.

2 Includes production of feed for horses and mules and certain items not shown separately.3 Includes certain items not shown separately.4 Preliminary.

Source: Department of Agriculture.

293


TABLE C—73.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-65

[1957-59=100]

Year or month

1929

193019311932 .1933-1934__ __19351936 .19371938 _1939 ..

1940 . „ .1941 _19421943 - .1944 _194519461947 „_--19481949 _ .

1950195119521953195419551956195719581959 . —

I96019611962196319641965 7

1964- JanFebMarApr .MavJune

July ... —AugSeptOctNovDec

1965* JanFebMar . -_AprMayJune

JulyAugSeptOct . .-Nov _ .Dec

Prices received by farmers

Allfarmprod-ucts *

61

52362729374547514039

425166

«80•82«86«98114119103

10712511910510296959710499

999910110098102

10110099989896

969698989797

989899101104106

105103103103103107

Crops

Allcrops1

61

52342632444649533637

414865848991102118114100

10411912010810810410510110099

99102104107106104

109109108110111108104101103104105105

1051051061091111091061001009998100

Foodgrains

55

44272131434651573534

40465770788195128118103

1061151161111101071061069896

96991071069077

10910810210610380

777677787979797978777675

767676777980

Feed grainsand hay

Total

74

67463136606865794546

54587296108106127161162112

1221431471301281161151059798

959597103105109

105103105106106106

103103107104101108

11011111211311511311210810810198105

Feedgrains

77

68442836607068844544

54587397109104131171170109

1231471501321301161161059798

93949510110210610199101103104105

102101105101981051061071081101121131111071069994101

Cot-ton

57

40241926393838362728

3243606466699110510494

10812911910210510410310197102

9710010410410094

9898101102104106

10599991009795

898993959698

979395959490

To-bacco

35

29201822323533413631

28325166727478777882

8390898991909396100104

103109109102101105101101101101101101

100101100103102102

101103103103103103

103105110109109113

Oil-bear-ingcrops

62

48321925455552564242

4560808897100114158153106

1201481291221331091111069896

93112108113112116117115114110107107

108106111114115119120123123123119120

118113107107107111

Livestock and products

Alllive-stockandprod-ucts 1

62

52382827324446494341

42536677768294111122106

10813011910497908894106100

9898999591101949392898787

9192959391919293939599103

104105105106106112

Meatani-mals

50

43302019223838423736

3546606662

•67

107117101

1101331159492807689109102

96971019488104

898890878686

898991878485

88919295104112

112112108108108116

Dairyprod-ucts

65

55433334404549514543

475563

8 868 89«10410611798

9711211810496969910199100

101101999910010110310199959292

959810310710710610410210097949396100104108109109

Poul-

andeggs

102

81625147567473706961

627796121112126127141153140

11814413014011312111210210890

1019292929092

999491868485

889293919188868788918687

9092959597104


294


TABLE G-73.—Indexes of prices received and prices paid by farmers, and parity ratio, 1929-65—Continued

Year or month

19291930 .1931193219331934193519361937193819391940194119421943 -_1944194519461947194819491950195119521953195419551956195719581959I96019611962196319641965 7

1964: JanFebMarAprMayJuneJuly .„Aug -_ -SeptOctNovDec

1965: Jan...FebMarAprMayJuneJulyAugSeptOctNov . __.Dec

[1957-59 = LOO]

Prices paid by farmers

Allitems,in-

terest,taxes,andwagerates(parityindex)

5552443837414242454242424552586265718289868796989595949598100102102103105107107110

107107107107107107107107107107107107108109109109110110110110110110110111

Allterns

5551443838434545484544

454855616466728592889010010096969596981011011011011031041041061041042222 2

104104104104104105105105106107107107106106106106107

Commodities and services

Fam-ilyivingterns

5450433738434343454342424552586164718388858694959494959699100101102102103104105107104105105105105105105105105105105105106106106106108107107107107107107108

Allproduc-tion

items *

565243383844C

DC

OC

474647505763666773859591941041049797969598100102101101103104103105104103104104103103103103103103103103104104104105106106106106106105105106

Production items

Feed

6861433237525355624747505466788786100118125103105118126114113106103101991009898100104103104106105104104103102101101103103102104104104104105105105104104104103102103

Motorve-

hicles

3635353434363738394240404245475153556371787883878686878996100104102102105109111113

111

111111

110110111112

113

115114

111111113

Farmma-chin-ery

4343424039404142434443

434346484949515867767883868787879296100104107110111113116119

115

116"

118

118

118

119

121

Fer-til-izer

85837566616968646767666464717677797988969894100102103102101100100100100100100100100100100

10099

99

100

100

100100

100

100

In-ter-ests

11611310810190807468646058565451464341404243454954596368748391100109120131145162181204182182182182182182182182182182182181204204204204204204204204204204204204

Taxes 3

5657565144383636363837383838373739434856606568717477o3$o§

100107117125132139147155146146146146146146146146146146146147155155155155155155155155155155155155

Wagerates4

323024181517182022222222263445546266727674738187888889929699105109110114116119125116116116121121121121121121119119119122122122126126126125125125128128128

Par-ity

ratios

9283675864758892937877

819310511310810911311511010010110710092898483828582807980787677787777757574747476767575747575767879787878777780

1 Includes items not shown separately.2 Interest payable per acre on farm real estate debt.a Farm real estate taxes payable per acre (levied in preceding year).< Monthly data are seasonally adjusted.s Percentage ratio of prices received for all farm products to parity index, on a 1910-14 = 100 base.6 Includes wartime subsidy payments.7 Preliminary.Source: Department of Agriculture.

295


T A B L E C—74.—Selected measures of farm resources and inputs, 1929-65

Year

Cropsharvested(millionsof acres) l

Total

Exclu-sive ofuse forfeed forhorses

andmules

Live-stockbreed-

ingunits(1957-59=100)2

Man-hours

offarmwork(bil-

lions)

Index numbers of inputs (1957-59=100)

Total Farmlabor

Farmreal

estate 3

Me-chani-

calpowerandma-

chinery

Ferti-lizerandlime

Feed,seed,andlive-stockpur-

Miscel-laneous

1929.

1930.1931.1932.1933.1934.

1935.1936.1937.1938.

1940..1941..1942..1943..1944..

1945..1946..1947..1948..1949.

1950..1951..1952..1953.1954.

1955.1956.1957.1958.1959.

1960.1961-1962..1963-1964.

1965 8

365

369365371340304

345323347349331

341344348357362

354352355356360

345344349348346

340324324324324

324303295300301

302

298

304303311281247

269295301286

298304309320326

322323329332338

326326334335335

330315316317318

319299291296297

298

8690878793

9594104117114

109107104

102103103100104

10610410199100

100101

101

23.2

22.923.422.622.620.2

21.120.422.120.620.7

20.520.020.620.320.2

18.818.117.216.816.2

15.115.214.514.013.3

12.812.011.110.510.3

9.59.18.88.4

8.2

949194

9797100101101

100101

101104103103102

1021019999102

101101101102103

104

218

216220213212190

198192208193194

192188194191190

177170162158152

142143136131125

1201131049997

9289858379

77

100

10099100100100

100100101101102

100

92969798

999910099101

100979799101

101

90919497109

110116124141155

166

9193101106

109123121124123

124

76

76787976

6668687072

7374757676

7677787482

85

9191

949895100105

106109113115120

124

* Acreage harvested (excluding duplication) plus acreages in fruits, tree nuts, and farm gardens.2 Animal units of breeding livestock, excluding horses and mules.3 Includes buildings and improvements on land.« Nonfarm inputs associated with farmers' purchases.s Preliminary.Source: Department of Agriculture.

296


TABLE C-75.—Farm population, employment, and productivity, 7929-65

Year

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.,1958.1959.

1960.1961.1962.1963.1964.1965 5

Farm popu-lation

(April 1) i

Num-ber

(thou-sands)

30,580

30,52930,84531,38832,39332,305

32,16131,73731,266

30,840

30, 54730,11828,91426,18624,815

24,42025,40325,82924,38324,194

23,04821,89021,74819,87419,019

19,07818,71217,65617,12816,592

15,63514,80314,31313,36712,95412,400

As per-cent oftotal

popu-lation 2

25.2

24.924.925.225.825.5

25.324.824.223.823.5

23.122.621.419.217.9

17.518.017.916.616.2

15.214.213.912.511.7

11.511.110.3

8.78.17.77.16.86.4

Farm employment(thousands) a

TotalFamily

workers

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

9,5469,1498,8648,651

8,3817,8527,6007,5037,342

7,0576,9196,7006,5186,1105,609

Hiredworkers

9,360

9,3079,6429,9229,8745,765

9,8559,3509,0548,8158,611

8,3008,0177,9498,0107,988

7,8818,1068,1158,0267.712

7,5977,3107,0056,7756,570

6,3455,9005,6605,5215,390

5,1725,0294,8734,7384,5064,125

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

2,3292,2362,1442,0892,081

2,0361,9521,9401,9821,952

1,8851,8901,8271,7801,6041,484

Farm output

Perunitof

totalinput

Per man-hour

Total Crops Live-stock

Croppro-duc-tionper

acre4

Index, 1957-59=100

Live-stockpro-

ductionper

breed-ingunit

63

6369696559

6962737472

7275827982

8285828886

8586899091

949696103101

105106107110109112

28

2830302827

3129333535

3639424244

4649505657

6162687174

808691103106

115120127135141151

28

2730302727

3128333534

3739434144

4650505757

6361676973

778390105105

114119124132133148

48

4747474643

4446464850

5051565856

5859616266

6872747680

858992100108

113120127137147149

69

6472686151

6656767374

7677867883

8286829285

8485908988

919293105102

109113116119117124

7070696862

70717575

7580817875

79787982

8689899392

939596

100104

105108108111112111

1 Farm population as denned by Department of Agriculture and Department of Commerce, i.e., civilianpopulation living on farms, regardless of occupation.

2 Total population of United States as of July 1 includes armed forces abroad and Alaska and Hawaiibeginning January and August 1959, respectively.

3 Includes persons doing farm work on all farms. These data, published by the Department of Agri-culture, Statistical Reporting Service, differ from those on agricultural employment by the Departmentof Labor (see Table C-21) because of differences in the method of approach, in concepts of employment,and in time of month for which the data are collected. For further explanation, see monthly report onFarm Labor, September 10, 1958.

* Computed from variable weights for individual crops produced each year.5 Preliminary.

Sources: Department of Agriculture and Department of Commerce (Bureau of the Census).

297


TABLE C-76.—Comparative balance sheet of agriculture, 7929-66


Beginningof year

Assets

Total Realestate Live-

stock

Other physical assets

Ma-chin-eryand

motorvehi-cles

Crops2

House-holdfur-

nish-ingsand

equip-ment

Financial assets

Depos-itsandcur-

rency

U.S.savingsbonds

Invest-mentin co-opera-tives

Claims

Total Realestatedebt

Otherdebt

Pro-prie-tors'equi-ties

1929-

1931-.1932...1933-1934-.

1935-1936-.1937.-

1939..

1945-1946.1947.1948.1949.

1950.1951.1952.1953.1954.

19551956195719581959

1960.1961-.1962_.1963.1964_

1965..

68.5

19401941194219431944

178.0186.0202.8

203.9204.3213.0221.0229.1

237.8

48.0

47.943.737.230.832.2

33.334.335.235.234.1

33.634.437.541.648.2

53.961.068.573.776.6

75.386.695.196.595.0

98.2102.9110.4115.9124.4

129.9131.4137.4142.8150. 7

159.4

6.6

6.54.93.63.03.2

3.55.25.15.05.1

5.15.37.19.69.7

9.09.711.913.314.4

12.917.119.514.811.7

11.210.611.013.917.7

15.615.516.417.215.7

14.4

3.2

3.43.33.02.52.2

2.22.42.63.03.2

3.13.34.04.95.4

6.55.45.37.410.1

12.214.116.717.418.4

18.619.320.220.222.1

22.322.022.523.324.1

25.2

2.5

88

2.73.03.85.16.1

6.76.37.19.08.6

7.67.98.89.09.2

9.68.38.37.69.3

7.88.08.79.29.8

8.9

4.0(3)

8(3)(3)84.24.24.95.05.35.66.17.78.59.18.69.710.39.99.910.010.510.09.99.8

9.68.99.18.78.8

0.6

3.23.54.25.46.6

7.99.410.29.99.6

9.19.19.49.49.4

9.49.59.49.510.0

9.28.78.89.29.2

9.6

0.2.4.51.12.2

3.44.24.24.44.6

4.74.74.74.64.7

5.05.25.15.15.2

4.74.64.54.44.2

4.2

.9

.91.01.1

1.21.41.51.71.9

2.12.32.52.72.9

3.13.43.63.94.3

4.85.25.66.26.6

7.3

132.5151.5167.0164.3

165.1169.7178.0186.0202.8

204.3213.0221.0229.1

237.8

9.8

9.69.49.18.57.7

7.67.47.27.0

6.66.56.46.05.4

4.94.84.95.15.3

5.66.16.77.27.7

8.29.09.810.411.1

12.112.813.915.216.8

18.9

5.0)

3.43.94.14.03.5

3.43.23.64.26.1

6.87.08.08.99.2

9.49.89.610.012.6

12.813.414.816.618.1

18.6

1966* 253.2 170.0 61.4 21.8 253.2 21.1 20. 0

53.9

42.944.652.463.775.7

85.995.5

107.9118.6123.5

120.1138.4152.3148.2144.3

147.5150.9158.6165.6179.1

179.0178.1184.3189.2194.2

200.3

212.1

1 Beginning with 1961, horses and mules are excluded.2 Includes all crops held on farms and crops held off farms by farmers as security for Commodity CreditCorporation loans. The latter on January 1,1965, totaled $606 million.

3 Not available.4 Preliminary.Source: Department of Agriculture.


INTERNATIONAL STATISTICS

TABLE C-77.—United States merchandise exports and imports, by commodity groups, 1957-65


Period

Sea-son-allyad-

justed

Merchandise exports

Total,includingreexports J

Un-ad-

justed

Domestic exports

To-tal i«

Food,bever-ages,andto-

bacco fuels

Crudema-te-

rialsand

Man-ufac-turedgoods

(•)

Sea-son-allyad-

justed

Merchandise imports

Generalimports 2

Un-ad-

justed

Imports forconsumption a

To-tal*

Food,bever-ages,andto-

bacco

Crudema-te-

rialsand

fuels 8

Man-ufac-turedgoods

(•)

Mer-chan-dise

tradesur-plus,sea-son-allyad-

justed

Monthly average:1957195819fi9— - —

1960.1961.1962.1963.1964.

1965 L.

1964: Jan—Feb_.Mar_.Apr..May.June..

July_.Aug--Sept..Oct...Nov..D e c .

1965: Jan...Feb. .Mar..Apr. .May..June-July..Aug..Sept..Oct . .Nov..

2,0432,0462,07 b2,0612,0622,034

2,1232,1092,2352,1552,197

1,2171,6932,7532,3802,2782,185

2,2632,3462,2982,3492,406

1,6261,3641,367

1,6341,6791,7451,8692,135

2,183

2,0352,0062,1402,1382,2212,047

2,0461,9002,0852,2592,1832,561

1,1881,5142,8922,5292,3812,219

2,1722,1242,1412,4202,440

1,6111,3511,352

1,6171,6591,7231,8462,106

2,155

2,0081,9772,1122,1022,1902,016

2,0201,8712,0582,2302,1582,526

1,1711,4912,8602,5022,3512,191

2,1402,0962,1112,3872,407

236224238

263286307342387

371

38537538738940434:

31832740541444045!

137225484389392382

401431459

254250

324318277311

351

353343342339345

391325320399382463

209246461410378382

321303383402

1,058962931

1,0721,0831,157.,218,360

, 422

,277,285,372,388,429,334

,314,2371,331,403,342,605

826,052,888,708

,'455

,343,393,371,530,525

1,4601,5201,5411,5391,518

1,5781,5761,5461,6481,6981,642

1,2061,6011,8691,8351,7991,835

1,6701,7251,7872,0021,903

1,1051,1051,302

1,2511,2261,3661,4291,557

1,747

1,4451,3371,5901,5611,4561,594

1,6111,4911,5621,6131,6721,755

1,1131,4642,0401,8551,7241,907

1,6331,7181,7981,9971,967

1,1021,1011,285

1,251., 221,354,417,550

742

463321565554432,575

,613490568,644655720

138489999821720878

,729,795

2,0041,953

280296296

283286306320332

326

306276364354309315

304292333363392376

173264386331332349

261315353409417

342382

379361381386413

441

428374404400384408

449427411413399454

386416508484409474

410449431462424

423433575

556539630666756

914

631740754695800

810725776810813842

535759

1,041963913

902909946

1,0611,034

52125965

383453379440578

436

554520523516

646534689607499788

884645479350

593621511347603

1 Total excludes Department of Defense shipments of grant-aid military supplies and equipment underthe Military Assistance Program.

2 Total arrivals of imported goods other than intransit shipments.3 Imported merchandise released from Customs custody for entry into U.S. consumption channels,

entries into bonded manufacturing warehouses, and ores and crude metals after smelting and refining inbonded warehouses.

4 Total includes commodities and transactions not classified according to kind.5 Includes fats and oils.8 Includes chemicals, metals, machinery, transportation equipment, and other manufactures. Military

grant-aid shipments are included in these commodity data.7 January-November average.

NOTE.—Data include trade of Alaska, Hawaii, and Puerto Rico.

Source: Department of Commerce, Bureau of International Commerce.

299


TABLE C-7S—United States balance of payments, 1947-65


Year or quarter

Exports of goods and services

TotalMer-chan-dise i

Mili-tary

Income oninvestments

Pri-vate

Gov-ern-

ment

Otherserv-ices

Imports of goods and

TotalMer-chan-dise i

Mili-taryex-

pend-itures

Otherserv-

Bal-anceon

goodsandserv-ices

Remit-tancesandpen-sions

1947...1948...1949__.

1950...1951...1952...1953...1954_-.

1955...1956...1957...1958...1959...

1960...1961...1962...1963—1964...

1965 io.

1963:II-.III.IV-

1964:II--III.IV.

1965: II I . —III 1 2-

19,73716,78915,770

13,80718,74417,99216,94717, 759

19,80423,59526,48123,06723,476

27,24428,55730,27832,35337,017

38,377

16,01513,19312,149

10,11714,12313,31912,28112,799

14,28017,37919,39016,26416,282

19,48919,93620,60422,06925,288

25,520

()192182

200161375300302

335402656659762

817

1,0361,2381,297

1,4841,6841,6241,6581,955

2,1702,4682,6122,5382,694

3,0013,5613,9544,1565,003

5,741

6610298

109198204252272

274194205307349

349380471498454

555

2,6202,2562,226

2,0972,7392,8452,5642,551

2,8803,3933,8993,6583,849

4,0704,2784,5934,9715,510

5,744

8,20810,3499,621

12,02815,07315,76616,56115,931

17,79519,62820.75220, 86123,342

1,17722,92425,12926,43628,457

31,240

5,9797,5636,879

9,10811,20210,83810,99010,354

11,52712,80413,29112,95215,310

14,73214,50716,17316,99218,619

20,871

455799621

5761,2702,0542,6152,642

2,9012,9493,2163,4353,107

3,0482,9543,0782,929

2,799

1,7741,9872,121

2,3442,6012,8742,9562,935

3,3673,8754,2454,4744,925

5,3975,4635,8786,5157,014

7,571

11,5296,4406,149

1,7793,6712,226386

1,828

2,0093,9675,7292,206134

4,0675,6335,1495,9178,560

7,137


30,01232,43632,55234,412

36,33635,96437,34038,428

34,66040,36840,104

-715-617

-523-457-545-617-615

-585-665-702-722-791

-672-705-738-837-839

19,97221,97622,48823,840

24,59624,26825,52826, 760

22,34426,99227,224

656976412592

776764672836

696916840

4,1964,0684,1164,244

5,0645,0525,0404,856

5,6406,0005,584

492496500504

520528528240

556584524

4,6964,9205,0365,232

5,3805,3525,5725,736

5,4245,8765,932

25,26,26,

556204868

27,116

27,5122828,29,

28,3232

244544528

628388704

16,23216,87617,37217,488

17,64018,39618,83619,604

18,65221,87622,084

3,2,2,2,

2,

020952884860

9282,8802,2,

222

764724

648808940

6,3046,3766,6126,768

6,9446,9686,9447,200

7,3287,7047,680

4,4566,2325,6847,296

8,8247,7208,7968,900

6,0327,9807,400

-864-848-804

-812-828-880

-1,160-940


3OO


TABLE C-78.—United States balance of payments, 1947-65—Continued


Period

19471948.. .--- .1949. . . .—

1950195119521953. — —1954

1 9 5 5 . . . . - -19561957..19581959.

19601961196219631964

1965 10

1963:I -IIIIIIV

1964:IIIIIIIV

1965:I —IIIII 12...

U.S.Gov-ern-

mentgrants

andcapi-tal,

net 2

-6,121-4,918-5,649

-3,640-3,191-2,380- 2 , 055- 1 , 554

- 2 , 211-2,362- 2 , 574- 2 , 587- 1 , 986

- 2 , 769- 2 , 780- 3 , 013- 3 , 581- 3 , 563

-3,327

U.S. private capital,net

Directinvest-ment

-749-721-660

-621-508-852-735-667

-823-1,951-2,442-1,181- 1 , 372

- 1 , 674-1,599-1,654-1,976-2,376

-3,420

Otherlong-term

- 4 9- 6 9- 8 0

-495-437-214

185-320

-241-603-859

- 1 , 444-926

-863- 1 , 025-1,227- 1 , 695-1,975

-1,247

Short-term

-189-116

187

-149-103

-94167

-635

-191-517-276-311- 7 7

-1,348-1,556

-544-785

- 2 , 111

1,027

For-eigncapi-

talnet 2

- 7 5-173

83

90243212178240

39465348722

863

366707

1,021688667

44

Errorsand

unre-cordedtrans-actions

9361,179

775

- 2 1477601339173

503543

1,157488412

-988-1,045-1,197

-401-1,161

-485

Balance

Liq-uiditybasis 3

4,5671,005

175

- 3 , 580-305

-1,046-2,152- 1 , 550

-1.145-935

520- 3 , 529- 3 , 743

-3,881-2,370-2,203-2,670-2,798

-1,269

Offi-cial

reservetrans-

actionsbasis <

<")(")(»)

-3,312538

-822-2,104- 1 , 523

-741-2611,145

- 3 , 027- 2 , 283

-3,592-1,287-2,241-1,977-1,224

-236


-3,684-4,400-2,460-3,780

-3,012-3,560-3,580-4,100

-3,188-3,836-2,956

-2,504-1,864-1,064-2,472

-1,856-2,160-2,204-3,284

-4,636-3,564-2,060

-2,248-2,344-1,276

-912

-1,096-1,024-2,448-3,332

- 2 , 716400

-1,424

376-1,944

-388-1,184

-2,356-2,192-1,624-2,272

1,1881,696

196

3121,040

540860

456308680

1,224

1,392-240

-1,020

-640-304

-1,072412

-1,152-608

-1,164-1,720

- 1 2-308

-1,136

-4,796-4,432

-840-612

-1,028-2,328-2,372-5,464

-2,836968

-1,940

-3,896-3,372

—72-568

-544-1,404

184-3,132

-2,568820

1,040

Changes in selected lia-bilities (decrease ( - ) )«

To foreignofficial holders«

Liquid

1,554-5051,237

8481,043

5591,130

20735

1,248

1,449681457

1,6731,073

(")

Non-liquid 7

1,25273191

251- 7 4- 2 0

(u>

Toother

foreignhold-

ers8

2688432244827

404674625502

1,460

2891,083

213619

1,554

Changesin gold,convert-ible cur-rencies,

andIMFgold

trancheposition(increase

(-))

-3 ,315-1,736

-266

1,758- 3 3

-4151,256

480

182-869

-1,1652,2921,035

2,143606

1,533378171

(»)

Quarterly totals unadjusted

276926320151

-400215389869

-861-107

252

5- 2 9- 5 0

- 5 0

30

3971414932

227114562651

199-161

683

32124227- 5

- 5 1303

70-151

8426840

1 Adjusted from customs data for differences in timing and coverage.2 Includes certain special Government transactions.3 Equals changes in liquid liabilities to foreign official holders, other foreign holders, and changes in official

reserve assets consisting of gold, convertible currencies, and the U.S. gold tranche position in the IMF.4 Equals changes in liquid and nonliquid liabilities to foreign official holders and changes in official reserve

assets consisting of gold, convertible currencies, and the U.S. gold tranche position in the IMF.5 Includes short-term official and banking liabilities and foreign holdings of U.S. Government bonds and

notes.6 Central banks, governments, and U.S. liabilities to the IMF arising from reversible gold sales to, and

gold deposits with the U.S. Data for years before 1960 include estimates of official transactions in marketableU.S. Government bonds and notes.

7 Provisional.* Private holders; includes banks and international and regional organizations, excludes IMF.9 Not reported separately.

10 Average of the seasonally adjusted annual rates for the first three quarters.11 Not available.12 Preliminary.

NOTE.—Data exclude military grant-aid and U.S. subscriptions to International Monetary Fund.


301

7S5--&83 O -


TABLE C-79.—United States merchandise exports and imports, by area, 1957-65

[Millions of dollars}

Period

Exports (including reexports)1

195719581959

I960196119621963 -1964

January-November:19641965

General imports195719581959 .-

1960196119621963 -__ . . .1964

January-November:19641965

Total

20,86217,91617,633

20,55820,96221,67223,35126,442

23,82924,742

13,25513,25515,627

15,01814,71316,38917,14218,685

16,93019,215

Canada

4,0453,5403,829

3,8103,8254,0454,2514,898

4,4445,120

3,0422,9653,352

3,1533,2703,6603,8294,241

3,8594,363

TwentyLatin

AmericanRepublics

4,6874,2083,613

3,5753,5293,3333,3003,816

3,4303,395

3,7693,5893,602

3,5283,2133,3873,4513,524

3,1723,295

WesternEurope

6,7535,4475,456

7,1757,1977,5978,1619,075

8,1928,282

3,0783,2974,523

4,1854,0584,5394,7295,206

4,6995,520

Allotherareas

5,3774,7214,735

5,9986,4116,6977,6398,6.53

7,7637,945

3,3663,4044,150

4,1524,1724,8035,1335,714

5,2006,037

i Includes "special category" shipments.

NOTE.-—Data include trade of Alaska, Hawaii, and Puerto Rico.

Source: Department of Commerce, Bureau of International Commerce.

302


T A B L E G—80.—United States foreign assistance, by type and area, fiscal years 1946—65


Type and fiscal period

Net obligations and loan authorizations

Total

NearEastand

SouthAsia

LatinAmerica

FarEast

Africa EuropeOther

and non-regional

Foreign assistance:

Total postwar...1962-64 average1965

Economic aid:Total postwar

LoansGrants

1962-64 averageLoansGrants

1965LoansGrants

AID and predecessor agencies:Total postwar1962-64 average1965

Food for Peace:Total postwar1962-64 average1965

Export-Import Bank long-term loans:

Total postwar1962-64 average1965

Other economic aid: 2Total postwar1962-64 average1965

Military assistance: aTotal postwar

LoansGrants

1962-64 averageLoansGrants

1965LoansGrants

Addendum—Repayments andinterest:8

Economic assistance:Total post war1965

Military assistance:Total postwar1965

115,8756,5055,958

81,19732,00849,1894,8612,6822,1794,6452,6432,002

40,0302,3142,026

13,2251,6711,527

8,770461522

19,172416571

34,678586

34,0921,644

501,5941,313

711,242

12,1561,012

30242

23,6002,1202,045

17,3249,3667,9581,7921,234

5581,6801,336

344

9,103922

6,311798922

9876778

9225

11

6,276150

6,126328

232636525

340

1,312275

574

10,3431,2101,346

9,4306,7202,7101,114

767347

1,282778504

3,010548532

1,390225107

3,573115258

1,456226385

913132781966

90648

55

2,474324

25,8421,3591,390

16,1912,925

13,267764220545726190535

8,525356408

1,980283210

4,7914222

* 9,651<35

< 9,6164 5954 12

4 664

830156

3,237480347

3,0511,2851,766

454170285329157172

248150

852161117

1361627

18611

17526

2618

17

298

0)

44,676554511

30,29211,49418,797

33526669

20418222

15,2304

- 1

2,334154118

2,90916565

9,8191122

14,384126

14,25921919

200307

19288

7,129211

10111

8,178782320

4,910218

4,69240225

376424

424

2,479236267

3585052

25

2,048115105

1343,134

38011

369-104

19-123

11510

67

1 Less than $500,000.2 Includes capital subscriptions to Inter-American Development Bank, International Bank for Recon-

struction and Development, International Development Association, and International Finance Corpora-tion (1946-65, $1,541 million; 1962-64 average, $135 million; 1965, $312 million) and Peace Corps (1946-65,$246 million; 1962-64 average, $54 million; 1965, $85 million).

3 Includes grant-aid and credit assistance under the Foreign Assistance Act (FAA) plus military assist-ance grants under other acts. Regional totals for the former include country aid programs only; all otherprograms are shown in "other and nonregional." FAA military data are from the Department of Defense.Annual data are for deliveries. "Total postwar" entries are program totals.

4 Excludes Australia and New Zealand, shown in "other and nonregional."5 Data for certain programs from Department of Commerce, Office of Business Economics, and Depart-

ment of Defense. Calculations for 1962-64 period not available at time of publication.

Source: Agency for International Development (except as noted).

303


TABLE C-81.—International reserves, 1949, 7953, and 7960-65 l

[Millions of dollars; end of period]

Area and country

All countries

Developed areas...

United States..

United Kingdom

Other Western Europe..AustriaBelgiumFrance.GermanyItalyNetherlandsScandinavian coun-

tries (Denmark,Finland, Norway,and Sweden)

SpainSwitzerland.Other*

Canada..

Japan...

Australia, New Zea-land, and SouthAfrica..

Less developed areas 7_.

Latin America..Middle East.—Other AsiaOther Africa-..

1949

45, 515

37, 240

26, 024

1,752

6,45592978580196(5)434

537

()1,6921,343

1,197

1,582

8,280

2,7751,4753,395«290

1953

51, 780

41,390

23,458

2,670

10. 515325

1,144829

1,773768

1,232

1,026

1501,7681,500

1,902

892

1,952

10,390

3,4001,2003,8401,800

1960 2

60, 665

50, 940

19, 359

3,719

22, 555716

1,5062,2727,0323,2511,863

1,402

5472,3241,643

1,989

1,949

1,369

9,725

2,9201,4103,3951,865

1961

62, 695

53, 705

18,753

3,318

25, 820845

1,8133,3657,1633,7991.958

1,607

8942,7591,615

2,276

1,666

1,875

8,985

2,6651,4703,2151,505

1962

63, 070

54,275

17, 220

3,308

26, 9751,0811,7534,0496,9563,8181,946

1,610

1,0552,8721,836

2,547

2,022

2,203

8,795

2,2901,7353,1601,500

1963

66, 510

56. 715

16,843

3,147

29,2801,2291,9404,9087,6503,4062,102

1,875

1,1523,0781,940

2,603

2,058

2,786

9,790

2,7902,2053,4151,290

1964

68,905

59, 015

16,672

2,316

32, 3151,3172,1925,7247,8823,8242,349

2,380

1,5183,1232,004

2,881

2,019

2,814

9,885

2,9302,2603,2951,255

1965

Sep-tember

368,865

58,205

«15, 721

2,755

32,4901,3392,3276,2487,3644,1562,423

2,219

1,5232,8762,013

3,025

2,014

2,197

310,665

3,180

1,380

De-cember

* 15, 447

3,004

1,3112,3046,3437,4284,4142,416

2,328

1,4093,247

3,027

2,152

1 Includes gold holdings, reserve position in the International Monetary Fund, and foreign exchange ofall countries except U.S.S.R., other Eastern European countries, and Communist China.

2 Beginning 1959, when most of the major currencies of the world became convertible, data exclude knownholdings of inconvertible currencies, balances under payments agreements, and the bilateral claims arisingfrom liquidation of the European Payments Union.

3 Estimate.* Includes U.S. gold subscription payments made in anticipation of increases in Fund quotas.5 Not available separately.«In addition to other Western European countries, includes unpublished gold reserves of Greece and an

estimate of gold to be distributed by the Tripartite Commission for the Restitution of Monetary Gold.7 Includes unpublished gold holdings not allocable by area.

Source: International Monetary Fund, International Financial Statistics.

3°4


TABLE C-82.—United States gold stock and holdings of convertible foreign currencies by U.S.monetary authorities, 1949-65


End of year or month TotalGold stock i

Total 2 Treasury

Foreigncurrencyholdings

1949

19501951195219531954

19551956195719581959

196019611962196319641965 3

1964: Jan...Feb..Mar..Apr..May.June-July.Aug.Sept.Oct -Nov.Dec.

1965: Jan..Feb..Mar.Apr.May-June.

July..Aug..Sept.Oct...Nov..Dec 3.

24, 563

22,82022,87323,25222,09121, 793

21, 75322,05822, 85720,58219, 507

17, 80417,06316,15615,80815, 90314,584

15,84715, 86515,99015,99115,94615,805

15,84015,89015, 87015,70216,32415,903

15,57215,22015,12914,88414, 51114,595

14,69714,95314,88414,79514,68614,584

24, 563

22,82022, 87323, 25222, 09121, 793

21, 75322, 05822, 85720, 58219, 507

17,80416, 94716,05715, 59615,471

«13,807

15, 54015, 51815, 55015, 72715, 69315,623

15, 62915, 65715,64315,60615, 56615, 471

15,20814,99314,63914,48014,36214,049

13,96913,916

* 13,925413,937< 13,879<13,807

24, 427

22, 70622, 69523,18722, 03021, 713

21, 69021, 94922, 78120, 53419, 456

17, 76716,88915, 97815, 51315,388

<13.733

15, 51215, 46215.46115.46215, 46315, 461

15.46215.46015.46315.46115,38615,388

15,18514,93714,56314,41014,29013,934

13,85713,857

413,858* 13,857* 13,805«13,733

11699

212432777

307347440264253182

21123322796758432

364227490404149546

7281,037959858807777

1 Includes gold sold to the United States by the International Monetary Fund with the right of repurchase,which amounted to $800 million on December 31,1965. Also includes gold deposit of IMF; see footnote 4.

2 Includes gold in Exchange Stabilization Fund.* Preliminary.* Includes gold deposited by the IMF ($8 million as of September 30, $9 million as of October 31 and $34

million as of Novem ber 30 and December 31,1965) to mitigate the impact on the U.S. gold stock of pur-chases by foreign countries for gold subscriptions on increased IMF quotas. The United States has a cor-responding gold liability to the IMF.

NOTE.—Gold held under earmark at Federal Reserve Banks for foreign and international accounts is notincluded in the gold stock of the United States.

Sources: Treasury Department and Board of Governors of the Federal Reserve System.

305


TABLE C-83.—Price changes in international trade, 1957-65

[1958=100]

Area or commodity class 1957 1958 1959 1960 1961 1962 1963 19641965

Thirdquarter

Unit value indexes by area

Developed areas

ExportsTerms of traded

United States *

ExportsTerms of traded.

Less developed areas

ExportsTerms of trade i

Latin America

ExportsTerms of trade *

Latin America excluding petroleum

ExportsTerms of trade !_

10396

10196

104100

107105

111109

100100

100100

100100

100100

100100

99102

100102

9799

9595

9494

100103

101101

9899

9596

9596

101104

103105

9597

9395

9395

101105

102107

9395

9193

9192

102104

102105

9597

9497

9597

103104

103103

9797

101103

104105

105105

106106

9897

3 1008102

3 1043 106

World export price indexes 4

Primary commodities, total..

Foodstuffs

Coffee, tea, and cocoa..Cereals

Other agricultural commodities &Fats, oils, and oilseeds.Textile fibers

Wool

MineralsMetal ores.

Nonferrous base metals.Manufactured goods *.__

106

103

103100

113

105126144

103107

111101

100

100

100100

100

100100100

100100

100100

97

93

8397

105

10098106

9497

11199

97

91

7796

107

94104108

9398

114101

95

90

7298

103

97105107

92100

110102

94

90

70103

99

89101106

9299

109102

100

103

73102

103

95112127

9296

110103

103

106

87105

105

98116131

94104

135104

100

99

80100

103

105104109

96110

153106

* Terms of trade indexes are unit value indexes of exports divided by unit value indexes of imports.2 Includes foreign trade of Alaska, Hawaii, and Puerto Rico.3 Data are for second quarter 1965.4 Data for manufactured goods are unit value indexes.• Includes nonfood fish and forest products.NOTE.—Data exclude trade of Eastern Europe and Communist China.Sources: United Nations and Department of Commerce (Bureau of International Commerce).

306

U.S. GOVERNMENT PRINTING OFFICE: 1966 O — 7 9 5 - 9 8 3


erp1966 appendixes 3

Documents